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MARCH 1986 / VOLUME 66 NUMBER
SURVEY OF CURRENT BUSINESS
UNITED STATES DEPARTMENT OF COMMERCE / BUREAU OF ECONOMIC ANALYSIS
MARCH 1986 / VOLUME 66 NUMBER
CONTENTS
The Business Situation
1
Reconciliation and Other Special Tables
6
Improved Deflation of Expenditures on Computers
7
The Cyclically Adjusted Federal Budget and Federal Debt:
Revised and Updated Estimates
11
Capital Expenditures by Majority-Owned
Foreign Affiliates of U.S. Companies, 1986
18
U.S. International Transactions,
Fourth Quarter and Year 1985
24
Malcolm Baldrige / Secretary
B. Bruce Merrifield/Acting Under
Secretary for Economic Affairs
Allan H. Young /
Director
Carol S* Carson / Deputy Director
of
Editor»in-Chief: Carol S« Carson
Manuscript Editor: Dannelel A. Crrosvenor
Managing Editor; Leland L. Scott
Constant-Dollar Inventories, Sales, and Inventory-Sales
Ratios for Manufacturing and Trade
55
Leo 3ML Bernstein, David W* Cartwright, Gurtmikh S*
National Income and Product Accounts Tables, 1982-85
57
Daniel J, Larkins, Jeffrey H. Lowe, John Mon, Na-
Staff
C&ntributors to This Issue: Christopher L, Bach,
Gill, Government Division, Thomas M, Holloway,
tional
Income
and
Wealth
Division,
Robert
P,
Parker, Joseph C. Wakefield.
SURVEY OF CURRENT BUSINESS* Published monthly by the Bureau
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Survey of Current Business, Bureau of Economic Analysis, ILSl
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CURRENT BUSINESS STATISTICS
General
SI
Industry
S19
Footnotes
S33
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the BUSINESS SITUATION
s
OURCE data that became available
for the 75-day estimate of the fourth
quarter of 1985 rounded out the view
of economic developments provided by
the national income and product accounts (NIPA's).1 Data on domestic
corporate profits become available for
the fourth quarter at the time of the
75-day, rather than the 45-day, estimate because most corporations' fiscal
years end in the fourth quarter and
additional time is needed to complete
their end-of-year reports. This information, in combination with information on international investment
income from surveys and other quarterly reports, provided the basis for
the first direct estimate of fourthquarter corporate profits on a NIPA
basis. The corporate profits estimates,
in turn, made it possible to estimate
profits taxes and thus to complete the
estimates of the receipts side of the
government sector accounts, providing—in conjunction with the expenditures side—a full view of the government fiscal position. Fourth-quarter
developments in corporate profits and
in the government sector are discussed in the first two sections of the
"Business Situation/'
December data on merchandise
trade on the revised statistical month
basis became available for the 75-day
estimate of the net exports component of GNP. (These data more than
accounted for the revision from the
45-day to the 75-day estimate of GNP;
see table 2 at the end of the "Business
Situation.") In addition, the estimate
of net exports incorporated the information on investment income already
mentioned and newly available information on other services. This information is initially assembled for the
international transactions accounts—
often referred to as the balance of
payments accounts—and incorporated
1. The "flash" estimate of GNP, which had been
prepared at the same time as the 75-day estimates,
has been discontinued.
in the NIPA's after several adjustments. (See table 1 on page 6 for a
reconciliation of NIPA net exports
and the corresponding measure in the
balance of payments accounts.) The
article "U.S. International Transactions" in this issue provides an indepth review of the fourth quarter
and year 1985 in terms of the balance
of payments. The third section of the
"Business Situation" uses NIPA aggregates to provide a longer run overview of international developments in
a NIPA framework.
Corporate profits
Profits from current production—
profits before tax plus inventory valuation adjustment (IVA) and capital
consumption adjustment (CCAdj)—
were unchanged, at $309 billion, in
the fourth quarter, following a $21
billion increase in the third. A decline
in domestic profits of nonfinancial
corporations offset increases in domestic profits of financial corporations and in profits from the rest of
the world.2
2. Quarterly estimates in the NIPA's are expressed
at seasonally adjusted annual rates, and quarterly
changes in them are differences between these rates.
Quarter-to-quarter percent changes are annualized.
Real, or constant-dollar, estimates are expressed in
1982 dollars.
Domestic profits of nonfinancial
corporations declined $5*/2 billion in
the fourth quarter, following a $21
billion increase in the third, as the
effect of a 2-percent increase in real
gross corporate product was more
than offset by that of a drop in profits
per unit of product. The drop in unit
profits, in turn, reflected a smaller increase in unit prices than in unit
costs; unit labor costs fully accounted
for the cost increase, as unit nonlabor
costs were unchanged.
Domestic profits of financial corporations increased $1 billion in the
fourth quarter, following a $lx/2 billion increase in the third. Profits
from the rest of the world increased
$4 ¥2 billion, following a decline of
$1V2 billion.
The current quarterly estimates of
profits from cur rent"production and
the other measures of profits estimated in the NIPA framework are prepared by extrapolation using tabulations of samples of corporate financial
reports. Special adjustments to ac^
count for charges not attributable to
current production were unusually
large in the third and fourth quarters; they are discussed in the note at
the end of this section.
Profits before tax.—Profits before
tax (PBT) increased $11% billion in
Looking Ahead . . *
' • Plant and Equipment Expenditures. The regular article in the April
SURVEY will be limited to estimates of plant and equipment (P & E) expenditures for the industries surveyed quarterly; estimates for the industries surveyed only annually will be available later.
•• Regional Sensitivity to the Business Cycle. An article about the sensitivity of States and regions to the national business cycle will appear in
the April SURVEY. The analysis will be based on quarterly nonfarm wages
and salaries and will cover the 3 years of the current expansion.
• U.S. Merchandise Trade Associated with U.S. Multinational Companies. An article presenting multinational companies' merchandise trade
and discussing trends and detail by product, by country of destination
and origin, and by intended use will appear in an upcoming issue of the
SURVEY.
SURVEY OF CURRENT BUSINESS
the fourth quarter, to $240 billion, following a $10 billion increase. The contrast between the flatness in profits
from current production and the increase in PBT reflects changes in the
IVA, which declined $15 billion to
negative $10 billion, and in the
CCAdj, which increased $3% billion to
$79% billion; both of these adjustments are reflected in the current
production measure but not in PBT.
The IVA converts the value of inventory withdrawals from the mixture of historical and replacement
costs that underlie PBT to current replacement costs. When, as in the
fourth quarter, current replacement
costs of inventory withdrawals are
higher than the costs that underlie
PBT, the IVA is negative in order to
remove the resulting capital-gainslike element.
The CCAdj converts depreciation
charges from those that underlie PBT
to a consistent accounting basis (i.e.,
straight-line depreciation and uniform
service lives) and to current replacement costs. The fourth-quarter increase in the CCAdj was largely due
to the effect of the Economic Recovery Tax Act of 1981, which allowed
shorter service lives for depreciable
capital. The increase was considerably
smaller than in many earlier quarters, reflecting depreciation charges
that corporations reported in the
fourth quarter.
Profits with IVA but without
CCAdj.—The measure of profits available by industry declined $3 ¥2 billion
in the fourth quarter, following a
$12% billion increase.
An $8% billion drop in the profits
of nonfinancial corporations was fully
accounted for by a drop in trade profits. Both wholesale and retail trade
registered large declines because of
increased inventory prices; without
the IVA, both would have registered
increases. In manufacturing, large
changes were recorded for producers
of motor vehicles and chemicals.
Motor vehicles profits increased $3
billion, partly reflecting reduced costs
of sales-incentive programs. Chemicals profits dropped $2 billion; the decline was industry-wide, affecting producers regardless of firm size or type
of chemical produced.
A $1 billion increase in the profits
of financial corporations reflected an
increase in profits of depository insti-
March 1986
Table 1.—Government Sector Receipts and
tutions that was partly offset by inExpenditures: Change from Preceding Quarter
creased losses of insurance carriers.
Profits from the rest of the world [Billions of dollars, based on seasonally adjusted annual rates]
increased $4% billion, reflecting, in
198 5
roughly equal amounts, increased
I
II
III
IV
profits of foreign affiliates of U.S. corGovernment sector
porations and decreased profits of
44.6 22.0
55.6 -27.2
Receipts
U.S. affiliates of foreign corporations.
282 25.2 37.2 42.3
Expenditures
7.4 -20.3
27.4 -52.4
Surplus or deficit (— )
Special adjustments.—Special adFederal Government
justments relating to the extrapola476 -349 358 155
Receipts
tion of current quarterly estimates on Personal tax and nontax
34.1
6.8
361 -42.6
receipts
the basis of corporate financial re2.2
-3.3
-.9
3.9
profits tax accruals
ports were unusually large in the Corporate
Indirect business tax and nontax
7
4
7
48
15
accruals
third and fourth quarters. As a result, Contributions
for social
15.5
4.0
2.6
4.9
insurance
the differences between the NIPA
176 11.6 28.0 38.3
Expenditures
measures of profits and the corre3.4 27.1 19.9
1.5
of goods and services....
sponding measures in corporations' fi- Purchases
2.2
2.0
6.5 13.9
National defense
nancial reports were unusually large.
17.7
- 6 -3.1
13.2
Nondefense
Of which: Commodity Credit
Corporations typically report the
Corporation inventory
change
1 4 -35 12.2
17.5
bulk of their charges for items such Transfer
2.6
6.8
1.3
12.2
payments
4.6
.6
16.5
To persons....
1.3
as asset writedowns and anticipated
.7
-43
1.3
2.2
To foreigners
expenses associated with plant clos- Grants-in-aid to State and local
16
18
3.1
1.3
governments
ings and corporate restructurings— Net interest paid
30
37
59
17
less current surplus of
the discontinuation of product lines, Subsidies
-4.9
9.9
34 -1.0
government enterprises
2.2 -7.2
3.8
5.8
Subsidies
the divestment of subsidiaries, etc.—
Less: Current surplus of
3.2 -2.3 -4.1
in the fourth quarter. In 1985, as in
.5
government enterprises
Wage accruals less
1984, many such charges were report- Less:
1.0
0
-.4 -1.2
disbursements
ed in both the third and fourth quar7.8 -22.9
30.0 -46.5
Surplus or deficit (— )
ters. A number of explanations, not
State and local governments
necessarily mutually exclusive, have
64
95 11.8
7.9
Receipts
been offered for the unusually large Personal tax and nontax
3.2
3.3
1.8
3.5
receipts
amounts of special charges recently. Corporate
.7
-.6
profits tax accruals
1.2
They have been interpreted as a reac- Indirect business tax and nontax
37
46
48
14
accruals
tion to what are viewed as the ex- Contributions for social
9
.8
.8
.9
insurance
cesses of the conglomerate movement Federal
16
18
3.1
13
grants-in-aid
of the late 1970's, as a defensive strat15.5 12.2
8.9
5.3
Expenditures
egy aimed at fending off hostile corpo- Purchases of goods and services.. 7.3 14.2 10.6 4.8
-.2
6.8
3.9 -3.8
Of which: Structures
rate takeovers, and as an effort to Transfer
1.4
1.6
2.0
2.0
payments to persons
1 -.2
6
take advantage of the third-quarter Net interest paid
Less: Dividends received by
3
3
1985 upturn in the stock market.
4
.4
government
less current surplus of
These charges substantially reduced Subsidies
1
9
government enterpises
0
0
0
Subsidies
profits in financial reports. Because
Less: Current surplus of
1.0
these charges are not attributable to
government enterprises
Less: Wage accruals less
current production, BEA adjusted the
0
0
0
0
disbursements
tabulations of samples of financial re-2.6 -6.0
2.6
Surplus or deficit (— )
ports, where necessary, to remove Social insurance funds . .
1.3
1.2
1.2
1.3
30 -72 — 16
their effect from NIPA profits. With- Other
out these adjustments, NIPA profits
NOTE.—Dollar levels are found in the National Income and
from current production would have Product Accounts Tables, tables 3.2 and 3.3.
been 5-10 percent lower in both the
third and fourth quarters.
In 1985, the fiscal position of the
government sector registered sharp
Government sector
quarterly fluctuations, reflecting an
The fiscal position of the govern- unusual pattern of refund payments
ment sector in the NIPA's deteriorat- on 1984 Federal personal income
ed in the fourth quarter of 1985, as taxes. Refund payments, which are
the combined deficit of the Federal netted against tax payments in calcuGovernment and of State and local lating personal tax and nontax redelayed in the first quargovernments increased $20% billion ceipts, were
1
(table 1). The deterioration was due to ter by $27 /2 billion due to computer
an increase in the Federal deficit; the problems at processing centers, and
State and local surplus increased $2% personal tax payments were unusually large in that quarter. In the second
billion.
March 1986
quarter, the catchup in refund payments led to a large decline in tax
payments. The catchup also affected
the third-quarter change, but not the
level, of tax payments. A comparison
with a year earlier removes the, effects of these fluctuations: The fourthquarter 1985 combined government
sector deficit of $165 billion was $38
billion higher than a year ago, due to
a $31V2 billion increase in the Federal
deficit and a $6V2 billion decline in
the State and local surplus.
The Federal sector.—The Federal
Government deficit increased $23 billion in the fourth quarter to $224 billion, as expenditures increased more
than receipts.
Receipts increased $15 Va billion,
compared with $36 billion in the third
quarter. All categories of receipts increased in the fourth quarter. The increase in personal tax and nontax receipts ($7 billion) and in contributions
for social insurance ($5 billion) reflected strong gains in incomes. The
increase in indirect business tax and
nontax accruals includes $1 billion
from an increase in the alcohol excise
tax to $12.50, from $10.50, per gallon
of 100-proof liquor, effective October
1.
Expenditures increased $38 Vk billion, compared with $28 billion in the
third quarter. Purchases of goods and
services, which amounted to slightly
more than 35 percent of total expenditures, accounted for over 50 percent
of the fourth-quarter increase. Nondefense purchases increased $17 Vfe billion; defense purchases, $2 billion.
Purchases of agricultural commodities
by the Commodity Credit Corporation
(CCC) accounted for the increase in
nondefense purchases. The CCC's net
acquisition of agricultural commodities was a record $30 billion ($33%
billion in real terms) and included
$13% billion of corn, $5% billion of
soybeans, and $3 billion of cotton.
(The previous high net acquisition
was $15% billion ($17 billion in real
terms) in the fourth quarter of 1982).
The small increase in national defense purchases followed a $14 billion
increase in the third quarter; the sharp
deceleration was more than accounted
for by purchases of military hardware. These purchases declined $5%
billion in the fourth quarter, in contrast to an $8% billion increase in the
third.
SURVEY OF CURRENT BUSINESS
All other expenditures combined increased $18% billion. Of a $10 billion
increase in subsidies less the current
surplus of government enterprises,
subsidy payments to farmers accounted for $6 billion; an increase in the
CCC enterprise deficit accounted for
the remainder. Net interest paid increased $6 billion, reflecting an increase in borrowings to finance the
deficit. Grants-in-aid to State and
local governments increased $1% billion; grants for sewage treatment
plant construction and for medicaid
accounted for the increase.
Cyclically adjusted surplus or deficit.—When measured using cyclical
adjustments based on middle-expansion trend GNP, the Federal fiscal position moved from a deficit of $206 billion in the third quarter to a deficit of
$227 billion in the fourth (see the article later in this issue for revised and
updated estimates of the cyclically adjusted budget). The cyclically adjusted
deficit as a percentage of middle-expansion trend GNP increased from
5.2 percent in the third quarter to 5.6
percent in the fourth.
The State and local sector.—The
State and local government surplus
increased $2x/2 billion in the fourth
quarter to $59% billion, as receipts
increased more than expenditures.
The increase in the total surplus was
shared by social insurance funds and
other funds.
Receipts increased $8 billion, compared with $12 billion in the third
quarter. All categories of receipts increased. The increase in personal tax
and nontax receipts reflected a strong
increase in incomes, and that in indirect business tax and nontax receipts
largely reflected an increase in property taxes.
Expenditures increased $5% billion,
compared with $12 billion in the third
quarter. The deceleration was largely
accounted for by purchases of goods
and services; they increased $5 billion
in the fourth quarter, compared with
$10% billion in the third. Compensation of employees more than accounted for the increase in the fourth quarter; all other purchases combined declined $x/2 billion. Purchases of structures declined $4 billion, an $8 billion
shift from the third-quarter increase.
Declines in all major types of construction purchases were paced by a
$3 billion drop in highways.
All other expenditures combined increased $% billion. The increase in
the current surplus of government enterprises was the result of a lottery
started on October 1 in California.
Real net exports
In the fourth quarter of 1985, real
net exports reached a record low of
negative $141 billion. From their peak
of $74 billion in the third quarter of
1980, net exports declined $215 billion. Over this period, declines were
registered in most quarters (chart 1).
Most of the decline in net exports
was in 1983-85. From their peak in
the third quarter of 1980 to the fourth
quarter of 1982, when the trough of
the 1981-82 recession was reached,
net exports declined $62% billion.3
Exports declined $47 Va billion, at an
average annual rate of 5.7 percent, aecounting for about three-quarters of
the decline in net exports. Imports increased $14% billion, at a rate of 2.1
percent. Over the next 3 years, a
period coincident with the current recovery and expansion, net exports
plummeted, turning negative in the
second quarter of 1983 and registering
a decline of $152%- billion by the
fourth quarter of 1985. During this
period, imports were by far the more
3. The trough in real GNP was reached in the third
quarter of 1982. The National Bureau of Economic Research places the reference business cycle trough in
the fourth quarter.
1
Exports, Imports, Net Exports,
and Merchandise Trade Balanse
Billion 1982 $
500
400
: Exports
300
200
100
Net Exports' '
*u^\
-100
- 'Merchandise, Trade Balance
•
-200
1980
1981
1982
1983
1984
1985
Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
86-3-1
SURVEY OF CURRENT BUSINESS
2
GNP, Command-Basis GNP, and
Gross Domestic Purchases
Billion 1982$
3,800
3,600 -
3,400 ~
3,200
3,0001 i \ i Lt i t l . ' . k ' t t , l >'..'* t ...t t i r I t t r
1980
1981
1982
1983
1984
1985
Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
86-3-2
dynamic component; they increased
$1751/2 billion, at an average annual
rate of 15.5 percent. By contrast, exports increased only $23 billion, at a
rate of 2.3 percent.
The divergence in movements of exports and imports led, in turn, to a divergence between rates of growth of
real GNP, which includes exports and
excludes imports, and real gross domestic purchases, which includes imports and excludes exports. (The quarterly NIPA tables now regularly include a reconciliation of GNP and
gross domestic purchases; see NIPA
table 1.6.) When net exports are positive, GNP exceeds gross domestic purchases. The gap between the former, a
measure of U.S. production, and the
latter, a measure of U.S. demand,
narrowed from the third quarter of
1980, as net exports declined, but remained positive. After net exports
turned negative in the second quarter
of 1983, gross domestic purchases exceeded GNP, and the gap between the
two generally widened (chart 2). Gross
domestic purchases increased at an
average annual rate of 5.4 percent
since that quarter, and GNP increased at a rate of 4.0 percent.
U.S. demand outpaced U.S. production during most of the 1983-85
period, and an increasing portion of
U.S. demand was met by imports. Imports, which met 11 percent of U.S.
demand in the second quarter of 1983,
met 13 percent by the fourth quarter
of 1985.
Another comparison related to net
exports is that of real GNP and real
command-basis GNP. Command-basis
GNP, because it is adjusted for
changes in the terms of trade, measures command over goods and services resulting from current production. (The quarterly NIPA tables now
regularly include command-basis
GNP; see NIPA table l.ll)4
The difference in the quarterly
movements of command-basis GNP
and GNP, shown in chart 2, mirrors
the impact of changes in the terms of
trade. The terms of trade, calculated
in this context as the ratio of the exports implicit price deflator to the imports implicit price deflator (multiplied by 100), affect the quantity of
foreign goods and services that the
United States could buy with its exports. As shown in chart 3, the terms
of trade declined in the first half of
1980, continuing a slide under the
impact of the 1979 petroleum price increase, and then moved irregularly
higher to the fourth quarter of 1983.
From the third quarter of 1980 to the
4. The difference between the two measures stems
from the difference in the deflation procedures used
for their net exports components. To obtain the constant-dollar measure of net exports for GNP, BEA deflates the current-dollar value of exports by export
prices and the current-dollar value of imports by
import prices and then subtracts deflated imports
from deflated exports. In contrast, to obtain the constant-dollar measure of net exports for command-basis
GNP, BEA deflates both current-dollar exports and
imports by the implicit price deflator for imports. For
a detailed exposition of command counterparts of BEA
production measures and their derivation, see Edward
F. Denison, "International Transactions in Measures
of the Nation's Production," SURVEY OF CURRENT BUSINESS 61 (May 1981): 17-22.
March 1986
3
Terms of Trade
Index 1982=100
~"—~
120 r
110
100
90
80
1980
1981
1982
1983
1984
1985
Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
se-s-s
fourth of 1983, the exports deflator increased steadily, at an average
annual rate of 3.7 percent, while the
imports deflator drifted down at a
rate of 0.3 percent. The result was improvement in the terms of trade at an
average annual rate of 4 percent. Beginning in the fourth quarter of 1983,
the improvement slowed sharply: The
exports deflator changed little while
the imports deflator declined slightly,
resulting in improvement at an average annual rate of 0.3 percent.
Over the early part of the 1980-85
period, when the terms of trade registered strong improvement, commandbasis GNP increased at an average
annual rate of 2.4 percent, and GNP
increased at a rate of 1.9 percent.
Since then, when the rate of improvement in the terms of trade was much
less, the average annual rates of
growth of command-basis GNP and
GNP were about the same. Thus, only
in the early part of the period did
U.S. command over goods and services increase faster than production.
* **
Fourth-quarter NIPA revisions
The 75-day revisions of the NIPA
estimates for the fourth quarter of
1985 are shown in table 2.
SURVEY OF CURRENT BUSINESS
March 1986
Table 2.—Revisions in Selected Component Series of the NIPA's, Fourth Quarter of 1985
Percent change from
preceding quarter at
annual rates
Seasonally adjusted at annual rates
45-day
estimate
75-day
estimate
Revision
45-day
estimate
75-day
estimate
4.5
4.3
4.4
10.8
11.6
4.5
12.2
11.3
12.0
12.4
Billions of current dollars
GNP
Personal consumption expenditures....
Nonresidential fixed investment
Residential investment
Change in business inventories
Net exports
Government purchases
...
4,061.5
4,059.3
2,634.0
490.9
192.6
-5.5
1069
856.5
2,634.8
492.5
192.5
-4.3
1134
857.2
National income
-2.2
.8
1.6
-.1
1.2
65
.7
6.1
3,275.9
Compensation of employees
Corporate profits with inventory valuation and capital
consumption adjustments
Other
Personal income
2,427.2
2,427.5
539.5
309.1
539.4
3,354.1
3,354.3
7.2
7.3
-.1
4.4
-5.7
4.3
.2
6.9
6.9
.3
Billions of constant (1982) dollars
GNP
Personal consumption expenditures
Nonresidential fixed investment
Residential investment
Change in business inventories
Net exports
Government purchases
3,594.8
3,590.8
4.0
1.2
.7
2,330.3
485.1
175.8
67
-134.0
744.3
2,330.4
486.5
175.5
63
-140.8
745.5
.1
1.4
-.3
.4
-6.8
1.2
.1
10.0
6.4
.1
11.3
5.7
8.5
9.2
3.9
3.6
3.3
3.9
2.9
3.3
Index numbers, 1982=100
GNP price index (fixed weights)
GNP price index (chained weights)
GNP implicit price deflator
. ...
. ..
l
113.8
113.8
0
113.0
113.0
0
1. Not at annual rates.
NOTE.—For the fourth quarter of 1985, the following revised or additional major source data became available: For personal
consumption expenditures, revised retail sales for December, used car sales for the quarter, 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
Etecember; for residential investment, revised construction put in place for December; for change in business inventories, revised
book values for manufacturing and trade for December; for net exports of goods and services, revised statistical month
merchandise exports and imports for December, and revised service receipts for the quarter; for government purchases of goods
and services, revised construction put in place for December; for wages and salaries, revised employment, average hourly earnings,
and average weekly hours for December; for 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 for the quarter, and revised profits from
the rest of the world for the quarter; and for GNP prices, revised residential housing prices for the quarter.
March 1986
SURVEY OF CURRENT BUSINESS
Reconciliation and Other Special Tables
Table 1.—Relation of Net Exports of Goods and Services in the National Income and Product
Accounts (NIPA's) to Balance on Goods and Services in the Balance of Payments Accounts
(BPA's)
[Billions of dollars]
Seasonally adjusted at annual
rates
Line
1985
1985
I
Exports of goods and services BPA's
Less: Gold, BPA's
Capital gains net of losses in direct investment income receipts,
BPA's
:
Statistical differences *
Other items
...
j.
Plus: Adjustment for U.S. territories and Puerto Rico
Services furnished without payment by financial intermediaries except life
insurance carriers and private noninsured.
Equals' Exports of goods and services NIPA's
Imports of goods and services, BPA's
Less: Payments of income on U S Government liabilities .. ..
Gold BPA's
Capital gains net of losses
in direct investment income payments, BPA's
1
Statistical differences
Other items 2
Plus: Gold, NIPA's
. ...
Adjustment for U.S. territories and Puerto Rico
Imputed interest paid to foreigners
Equals: Imports of goods and services, NIPA's
Balance on goods and services BPA's (1 9)
Less- Gold (2 11 + 15)
Capital gains net of losses in direct investment income BPA's (3 — 12)
. .
Statistical differences (4 — 13)
Other items (5 14)
Plus: Payments of income on U.S Government liabilities (10)
Adjustment for U S territories and Puerto Rico(6 16)
Equals: Net exports of goods and services, NIPA's (8 — 18)
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
359.7 353.6
1.9
1.7
5.6 -10.4
6
-.5
0
0
11.6
11.6
5.4
5.2
n
III
IV
357.1
1.2
4.1
-.5
0
11.6
5.3
363.1
2.0
15.5
-.6
0
11.6
5.4
365.0
1.9
13.0
-.6
0
11.6
5.5
369.9 379.6 369.2 363.2 367.8
462.6 437.7 453.9 464.3 494.5
21.5
21.1
21.5
21.2
21.3
3.6
2.4
2.8
3.3
4.3
-.6
.2
1.8
.6
1.0
8
7 -1.1
-1.1
-.9
.6
.6
.6
.6
.6
.1
.1
-.1
-.1
0
5.4
5.4
5.4
5.4
5.4
5.4
5.3
5.5
5.2
5.4
448.4 421.9 439.5 451.0 481.2
1012 -129.5
-102.9 -84.0 -96.8
-1.7
25 -1.2
-1.0
-1.6
16.1
12.8
2.3
4.9 -11.5
.5
.3
.5
.4
.3
6
-.6
-.6
-.6
-.6
21.5
21.1
21.5
21.3
21.2
6.2
6.2
6.2
6.2
6.2
-78.5 -42.3 -70.3 -87.8 -113.4
1. Consists of statistical revisions in the BPA's that have not yet been incorporated in the NIPA's.
2. U.S. Government contributions to international organizations (lines 14 and 23) are classified as imports in the BPA's and as
transfer payments to foreigners in the NIPA's. Beginning with the June 1986 BPA revision, the BPA's will reflect the
classification of these contributions as transfers.
By DAVID W. CARTWRIGHT
Improved Deflation of Purchases of Computers
IN
Selection of the index
The IBM work described in the January SURVEY OF CURRENT BUSINESS
resulted in four quality-adjusted price
indexes for each of four types of computing equipment—computer processors, disk drives, printers, and displays (terminals). One of the four indexes, the matched-model index, uses
the conventional method for controlling for the effects of quality change.
The other indexes all involve the use
of hedonic methods and are referred
to as the regression, the characteristics, and the composite indexes.
The matched-model index is formed
from the changes in prices for identical models that are sold in adjacent
years. This method is similar to that
used by the Bureau of Labor Statistics
for constructing the Producer Price
Indexes, components of which are
used by BEA for the deflation of most
other types of equipment in GNP. The
major strength of the matched-model
method is that, in principle, all characteristics are held constant in measuring the price change for each model
so that quality change is not erroneously included in the measured price
change.2 Use of the method thus requires the assumption that any price
change that coincides with new model
introductions is equal to the average
price change for matched models.
When the assumption is not met,
price indexes constructed using
matched-model methods may be
biased. Such bias will be small where
prices are relatively stable or where
the number of new models is relatively small. However, these conditions do
not hold for computers. New models
are introduced frequently, reflecting
rapid changes in technology, and
their introduction is frequently associated with major price reductions.
Hedonic methods, which are incorporated in the other three indexes,
impute the prices for all models for
all periods based on the characteristics of the models and their implicit
prices. Thus, they overcome the weakness of the matched-model index by
estimating the price change occasioned by the introduction of new
models. On the other hand, a weakness of hedonic methods is that they
hold constant only the most important and measurable characteristics
in deriving a quality-adjusted price
change. If a characteristic that is a
significant factor in the prices of
models is omitted, the price indexes
from the hedonic method may be
biased.
The differences among the alternative hedonic indexes relate to the way
and the extent to which the hedonic
function is used. The regression index
is formed from the coefficients in the
IBM regression equation on the
dummy variables for year or for technology class by year. It does not make
use of information on quantities; each
model is given equal weight regardless of the number shipped. The characteristics price index is formed from
the coefficients in the IBM regression
1. See Rosanne Cole et al., "Quality-Adjusted Price
Indexes for Computer Processors and Selected Peripheral Equipment," SURVEY OF CURRENT BUSINESS 66
(January 1986): 41-50.
2. For a discussion of the treatment of quality
change by the four alternative indexes, see Jack E.
Triplett, "The Economic Interpretation of Hedonic
Methods," SURVEY 66 (January 1986): 36-40.
the revised GNP estimates released in December 1985, new deflators for computers (processors and peripheral equipment) were used for
several components—producers' durable equipment, exports, imports, and
government purchases. The new deflators were constructed by BEA primarily from price indexes for computing equipment developed by IBM Corporation.1 This article discusses the
selection by BEA—from among the alternatives presented by IBM—of the
index most appropriate to the deflation of GNP, the construction of the
new deflators, and their use in the revised estimates. It concludes with an
evaluation of the new deflators.
equation on characteristics of the
equipment, such as speed or capacity.
The indexes are weighted by shipments of characteristics. The composite index uses both reported prices
and, for models not sold in the base
year, prices imputed from the regression equation. It is calculated as the
average of the ratios of current-year
prices to base-year prices for each
model, weighted by the number of
models shipped in the current year.
The characteristics price index and
the composite index are conceptually
equivalent as long as the correct characteristics are used.3
Of the four indexes, the composite
price index was chosen for the deflation of the GNP components because
it combines the strengths of the
matched-model and the hedonic methods, using the hedonic function to
impute the base-year price for models
not sold in the base year.
Construction of the deflators
A deflator for computers was constructed by combining the IBM composite indexes for computer processors, disk drives, printers, displays,
and a regression index for IBM tape
drives. The resulting deflator covered
the period 1972-84. It was extended
back to 1969 using information from
other studies of computer prices.
Prior to 1969, the deflator was held
constant at the 1969 level; the effect
on purchases in constant (1982) dollars of holding the index constant was
small.
A second deflator—covering both
computers and other office, computing, and accounting machinery—was
constructed using the new deflator for
computers and Producer Price Indexes for related machinery, weighted together using business purchases of
the two types of equipment. This deflator was needed for some of the
3 See Triplett, "The Economic Interpretation of Hedonic Methods."
Table 1.—Implicit Price Deflators for Computers and for Business Purchases of Office,
Computing, and Accounting Machinery
[Index numbers, 1982=100]
Year
Computers
Office, computing,
and accounting
machinery
1969
1970
1971
1972
1973
1974
617.3
5521
4738
4081
3693
291.1
158.8
1772
1882
1853
1568
139.9
1975
1976
1977
1978
1979
o 265.1
231 1
1997
1693
146.2
1446
1392
1325
129 1
123.1
1175
1074
100.0
771
685
1094
104 1
100.0
830
742
1980
1981
1982
1983
1984
...
.. .
components of GNP for which separately identifiable data on computers
were not available, as described in the
next section. The deflators for computers and for office, computing, and
accounting machinery are shown in
table 1.
The preferred way to use the IBM
indexes for deflation purposes would
be to identify and deflate separately
the purchases of each of the five types
of computing equipment in each GNP
component. This approach would recognize differences in composition of
the equipment purchased by business-
es, government, and foreigners. It was
not used because data to implement it
are not available. Consequently, the
BEA deflator for computers was constructed by combining the indexes for
the five types of equipment using
shipments of domestic manufacturers
as weights.4 This approach assumes
that each type of purchaser acquired
the same mix of the five types of
equipment and that this mix is the
same as that of shipments of domestic
manufacturers.
used to prepare the current-dollar estimates to which the deflators were
applied. As indicated in the table, separately identifiable estimates of computers, or of a grouping of products
closely related to computers, are
available for recent periods for producers' durable equipment (PDE), exports, imports, and government purchases. Separately identifiable estimates for computers are not available
for these components for earlier periods or for the change in business inventories and the personal consumpUse of the new deflators in the revised tion expenditures (PCE) components
for any period.
estimates
For PDE, purchases of computers
The new deflators for computers were deflated, beginning in 1969, with
and for office, computing, and ac- the new computer deflator. For both
counting machinery were used in the exports and imports, data for computrevised estimates of several compo- ers were available aggregated with
nents of GNP, as shown in table 2. other types of office machines. BeginThis table also shows the published ning in 1967, this aggregate—business
categories that include computers, the and office machines, computers, etc.—
deflators used in the previously pub- was deflated using the office, computlished estimates for each of the com- ing, and accounting machinery deflaponents, and the deflators used in the tor. Purchases of computers by the
revised estimates. In addition, the Federal Government for defense and
table presents the major source data nondefense purposes were deflated
separately, beginning in 1972, with
the new deflator for computers, as
4. Shipments data are available annually in Current
were State and local government purIndustrial Reports MA35R, Computers and Office and
chases of computers, beginning in
Accounting Machines, U.S. Department of Commerce,
Bureau of the Census.
1977.
Table 2.—Deflation of Annual Estimates of Computers in the National Income and Product Accounts
Component of GNP
Published category
that includes
computers 1
Previously published estimates
Period
covered 2
Category deflated
Revised estimates
Period
Deflator
(see key) covered 2
Category deflated
Deflator
(see key)
Major source data for current-dollar
estimates
Components with revised deflation
procedure for computers:
Producers' durable equipment (PDE)
Office, computing,
and accounting
machinery,
(table 5.6)
1952-84
Computers
A
1969-84 Computers
1952-68 Computers
B Census Bureau shipments and
merchandise trade data by detailed
A
category.
Exports and imports
Capital goods,
excluding autos.
(table 4.3)
1981-84 Business and office
machines,
computers, etc.
1967-80 Capital goods,
excluding autos.
1952-66 Merchandise —
durable goods.
D
1967-84 Business and office
machines,
computers, etc.
C
F
1952-66 Merchandise —
durable goods.
F
1972-84 General-purpose
computers.
1972-84 General-purpose
computers.
1952-71 Federal durable goods .
B
Merchandise —
durable goods,
(table 4.3)
Government purchases:
Federal— defense
Federal — nondefense
Federal—total
State and local
E
Other durable goods
(table 3.9)
Durable goods
(table 3.7B)
Durable goods
(table 3.7A)
Durable goods
(tables 3.7A and
3.7B).
1972-84 Other durable goods
G
1972-84 Durable goods
H
1952-71 Federal durable goods .
H
1952-84 Durable goods
H
Industries
(table 5.8)
1952-84 Detailed industries
1977-84 General-purpose
computers.
1952-76 Durable goods
\ Census Bureau merchandise trade d
I
by end-use category.
B
V Federal Government budget data by
I
type of expenditure.
H
B Census Bureau State and local
government expenditure data by
governmental function, distributed
H
by type of expenditure.
Components with no revision in
deflation procedure for computers:
Personal3 consumption expenditures
(PCE) .
Change in business inventories
I
1952-84
Detailed industries
I Census Bureau data on book value of
inventories by establishment
industry.
1. Current-dollar NIPA table numbers are in parentheses.
2. Prior to 1952, computer purchases were negligible.
3. It has been assumed that persons do not purchase computers for nonbusiness use. See the note on page 10.
Key:
A No change in price.
G Bureau of Labor Statistics Producer Price Indexes for selected types of office and
B New deflator for computers
accounting machinery (excluding computers) and BEA defense price data.
C New deflator for business purchases of office, computing, and accounting machinery.
H Bureau of Labor Statistics Producer Price Indexes for selected types of office and
D Bureau of Labor Statistics price indexes for exports or imports of business and office
accounting machinery (excluding computers).
machines (including computers).
I
Bureau of Labor Statistics Producer Price Indexes for selected types of office and
E Census Bureau unit-value indexes for exports or imports of business and office
accounting machinery (excluding computers) and unit labor costs.
machines, computers, etc.
F Census Bureau unit-value indexes for exports or imports of durable goods (including
computers).
For the two other components of
GNP that include computers—the
change in business inventories and
PCE—no use was made of the new deflators because separately identifiable
estimates were not available.
Evaluation of the deflators
The use of the new deflators for
computers represents a major improvement over the previously used
conventions of assuming no price
change for computers or of assuming
the same price changes as for related
products. Nevertheless, there are several problems with the information
used to construct the IBM price indexes and with the construction of
BEA's deflators from these indexes.
There are three major problems
with the information used to construct the IBM price indexes: (1) Coverage of the sample is limited to certain types of equipment and selected
manufacturers; (2) list, rather than
transaction, prices are included in the
sample; and (3) the information on
shipments is incomplete.
Table 3.—Comparison of BEA and IBM Regression Results for Processors
Coefficients
Speed
Sample size
R2
Models
Capacity
Observations
IBM (1972-84) l
0.78
0.22
0.973
67
296
2
.76
.12
.791
187
472
BEA(1972-83)
1. IBM equation II (see table 2 and the discussion on pages 44-45 of the January 1
expresses price as a function of speed, capacity, and technology class by year dummies.
2. The BEA equation expresses price as a function of speed, capacity, and time dummies.
SURVEY OF CURRENT BUSINESS)
The impact of this limitation was 1984, the prices of PC's declined more
evaluated by comparing the IBM re- rapidly than prices of larger procesgression results with comparable re- sors.
sults from a BEA sample of 187
List prices.—Discounting is common
models produced by 17 manufactur- in the computer industry, and the use
6
ers. The BEA sample was construct- of list, rather than transaction, prices
ed from sources similar to those used in the sample may bias the measures
by IBM, but differs from the IBM of price change if discounts change
sample in two ways in addition to its over time. To the extent that prices of
inclusion of more models and more models with "nonbest" technologies
manufacturers. First, the BEA sample were discounted more heavily than
does not contain technology variables those with the "best" technology, disbecause of the difficulty of developing counting will be reflected in the IBM
such measures consistently for all regression coefficients on technology
models. Second, the measure of speed class by year variables. Therefore, the
in the BEA sample may not be com- IBM coefficients on characteristics for
parable among all manufacturers.7 processors and disk drives may not be
For 1972-83 (the BEA sample did not biased. However, the composite indexinclude 1984), BEA applied the IBM es may be biased because they are calregression specifications, to the extent culated, in part, directly from the list
possible,
to its own sample for proces- prices in the samples.
Coverage.—The samples represent a
substantial portion of computing sors. As shown in table 3, despite the
Shipments.—The shipments data
equipment. For medium and large possible noncomparability of the used
to construct the IBM indexes are
measure
of
speed
across
manufacturprocessors and for printers and generincomplete.
Shipments by model are
al purpose displays, the samples are ers and the lack of technology meas- the appropriate
weight for price
large and include a wide range of ures in the BEA sample, the coeffi- changes for the composite
indexes.
both domestically produced and im- cients for speed and capacity are8 simiThey
are
available
only
for
processors
ported models. In 1984, the covered lar to those obtained by IBM. This
and may contain errors because they
types of equipment accounted for comparison suggests that the models were
derived from data on the stocks
about 44 percent of the value of ship- in the IBM sample for processors are
5
of
installed
systems. The indexes for
ments of computing equipment. representative of models not included
disk
drives
and for printers are
However, the samples exclude a in the sample.
weighted
by
shipments by class of
Of
the
other
coverage
problems
of
number of other types of equipment,
equipment.
The
indexes for displays
including small processors, personal the IBM sample, two are worth
are
unweighted.
computers (PC's), special-purpose com- noting. First, the IBM sample for disk
The most important of the problems
puters—such as those in airplanes, drives is limited to large and intermerelating
to the construction of BEA's
diate
drives;
these
drives
accounted
small and double-density disk drives,
deflators
is that the five separate
punched card equipment, optical scan- for less than 20 percent of total disk
type-of-equipment
price indexes were
ning devices, and plotters. In 1984, drives in 1984. Second, omission of
not
used
directly
in
each of the GNP
small processors, PC's, and small disk PC's from the IBM sample probably
components.
Separate
current-dollar
biases
the
price
indexes
in
recent
drives together accounted for about 30
estimates
were
not
available,
and it is
percent of the value of shipments of years. Preliminary research by IBM
likely
that
each
purchaser
acquired
a
indicates that the overall impact of
computing equipment.
different
mix
of
computer
equipment.
the
omission
during
this
period
may
The sample for processors is further
limited to models sold by IBM and be slight because the prices of both Other problems are the lack of inforthree manufacturers of plug-compati- PC's and large and medium proces- mation for 1985 and the lack of quarble equipment because of the difficul- sors appear to have declined by about terly information. For 1985, a prelimity of obtaining a consistent measure the same amount. However, this re- nary annual deflator was estimated
of speed over a wider number of man- search also indicates that, in 1983 and from midyear 1984 and 1985 prices
published in Computerworld magaufacturers. Although only 67 models
zine;
a revised deflator will be estiare included in the IBM sample, it
6. Improved Deflation of Computers in the Gross Namated
by extending the IBM price inrepresents a large proportion of total tional Product of the United States. Working Paper
dexes.
For quarterly deflation, the
Series
WP-4
(Washington,
DC:
U.S.
Department
of
processor shipments, according to
Commerce, December 1985).
annual
deflators were interpolated.
data derived from International Data
7. For a discussion of measures of processor speed,
For
1986,
quarterly deflators will be
see Cole et al, "Quality-Adjusted Price Indexes," pp.
Corporation censuses.
estimated using information on price
41-42.
8. Similar results were also obtained from single- changes and on the introduction of
year and paired-year equations, indicating that the renew equipment from trade publicagression results are not unduly sensitive to the length
5. See the July 1985 issue of Current Industrial Retions.
of time period specified for the equations.
ports MA35R.
10
SURVEY OF CURRENT BUSINESS
March 1986
Corrections to the Estimates of Purchases of Computers
In January, in the editor's note that introduced the two articles about
the new price index for computers, BEA reported that it would be
making corrections to the estimates of business purchases of computers
that had been released as part of the comprehensive revision in December 1985. This note provides those corrections.
A summary review of the commodity-flow procedure, which is used to
prepare the annual estimates of business purchases of computers as well
as other components of producers' durable equipment (PDE), provides
the background needed to explain the corrections. As shown in table 1,
the commodity-flow procedure begins with the Census Bureau value of
new computers (processors and peripheral equipment) shipped from domestic manufacturing plants (line 1). This value is increased by imports
of computers (line 2), reduced by exports of computers (line 3), reduced
by intermediate purchases of computers—for example, peripheral equipment purchased by one plant from another for assembly of small computers (line 4), and reduced by the change in inventories of computers
held by wholesalers and retailers (line 5). The result is shipments to domestic purchasers (line 6). This shipments total is valued in producers'
prices; for GNP, it must reflect purchasers' prices, so transportation and
trade margins (line 7) are added.
The next element—a valuation adjustment for "own-use" equipment
(line 8)—is unique to the derivation of purchases of computers. The adjustment is made to manufacturers' shipments of computers produced for
use by the same company—either for lease by the company to others or
for operations within the company. It converts these shipments from the
manufacturers' sales price, the valuation that is required for reports to
the Census Bureau, to manufacturers' cost, the valuation appropriate for
fixed investment in the national income and product accounts (NIPA's).
Domestic purchases (line 9) is the value in GNP of purchases by government, persons, and domestic business. Source data on business purchases of equipment by type are not available, so that domestic business
purchases of computers (line 12) is derived by subtracting the value of
purchases by government (line 10) and purchases by persons—that is, for
nonbusiness use—(line 11) from domestic purchases.
The corrections presented in this note stem from problems in three elements of the commodity-flow procedure. All of the problems affect the
estimates of domestic purchases and business purchases. Purchases by
government and persons are not affected.
The first problem is in imports (line 2) and resulted from an improper
handling of a detailed import category. This category, which should be
included in the computer component of PDE, was included in another
PDE component from 1973 to 1983 and was omitted completely in 1984.
The correction raises imports and thus raises business purchases of computers. The size of the correction to this element for 1973-83 is shown in
column 5 of table 2 as the amount by which other PDE is reduced; in
1984, the correction is $1.0 billion.
The second problem is in exports (line 3) and resulted from an improper handling of a detailed export category beginning in 1977. This category, which should have been excluded from the export element because it
consists of parts, was incorrectly assumed to have included a substantial
amount of computers. The correction reduces exports and thus raises
business purchases of computers. The correction to this element appears
as the sum of columns 4 and 5 of table 2 for 1977-83; in 1984, the correction is $4.4 billion.
The third problem is in the transportation and trade margins (line 7)
and resulted from the use of an incorrect wholesale trade margin from
1972 to 1976. The margin had incorrectly accounted for expenses associated with leased computers. The correction reduces the margin and thus
reduces business purchases. The correction to this element is no more
than $0.3 billion in any year and appears as the sum of columns 4 and 5
of table 2 for 1972-76.
As shown in table 2, the corrections have the same effect on business
purchases of computers and on PDE and GNP in 1972 and 1984; for
1973-83, the effects are different because the correction for imports is offsetting within PDE. In 1972, the corrections reduce current-dollar business purchases of computers by $0.2 billion and reduce constant-dollars
purchases by a very small amount. In 1984, the corrections increase current-dollar purchases by $5.4 billion and increase constant-dollar purchases by $7.9 billion. The, corrections raise the average annual rate of
increase of constant-dollar business purchases of computers from 1972 to
1984 from 36 percent to 39 percent per year; for total PDE, the increase
is about unchanged at 4Va percent per year. It is not yet possible to estimate the corrections for 1985, but it is likely that they will increase purchases by about the same amount as in 1984.
The corrections shown in table 2 have not been incorporated into
NIPA estimates, including the NIPA estimates that appear elsewhere in
Table 1.—Commodity-Flow Procedure Used to Derive Annual Estimates
of Business Purchases of Computers
[Billions of dollars]
Line
Elements
1 Shipments from domestic manufacturing plants
. . ..
1977 i
1984 i
98
360
2 Plus: Imports
3 Less: Exports
4
Intermediate purchases
5
Change in trade inventories
1
28
5
38
112
20
11
6 Equals: Shipments to domestic purchasers at producers' prices
67
255
4
9
15
13
o
7 Plus: Trade and transportation margins
8 Less: Valuation adjustment for own-use equipment
9 Equals: Domestic purchases
62
257
10 Less: Purchases by government. .
11
Purchases by persons
10
0
28
0
12 Equals: Purchases by businesses .
52
229
1. As released in December 1985; does not reflect corrections shown in table 2 of this note.
Table 2.—Corrections to Estimates of Business Purchases of Computers
and Related Aggregates
[Billions of dollars]
Addenda:
Producers' durable
equipment (1982
dollars)
Producers' durable equipment
Year
Office, computing, and
accounting machinery
GNP
Total
(2)
(1)
1972
1973
1974
1975
1976
1977
1978 .
1979
1980
1981
1982
1983
1984 .
1985
....
Total
Computers
Other
Total
Computers
(3)
(4)
(5)
(6)
(7)
-0.2
-.1
-.2
-.2
-.3
-0.2
-.1
-.2
— 2
-!s
-0.2
1
-.2
2
-.3
0.2
-.1
-.1
-.1
-.1
.6
1.1
1.4
2.1
2.2
.6
1.1
1.4
2.1
2.2
.6
1.1
1.4
2.1
2.2
.7
1.2
1.6
2.3
2.5
-.1
-.2
-.2
-.2
-.2
.3
.6
1.0
1.7
2.1
.3
.7
1.1
1.9
2.3
2.6
3.3
5.4
n.a.
2.6
3.3
5.4
n.a.
2.6
3.3
5.4
n.a.
2.9
3.9
5.4
n.a.
-.4
.6
0
n.a.
2.6
4.3
7.9
n.a.
2.9
5.0
7.9
n.a.
^ 0
.1
-.1
.2
*
* Less than $0.05 billion.
n.a. Not available.
NOTE.—The corrections are to the estimates released in December 1985.
this issue of the SURVEY. Corrections that affect estimates prior to 1983
will be incorporated in the next comprehensive NIPA revision. Corrections that affect estimates for 1983 forward will be reflected in an annual
NIPA revision scheduled for this July; this revision also will reflect the
incorporation into the elements of the commodity-flow procedure of
source data that regularly become available for an annual revision.
In addition, this annual revision will reflect the incorporation, beginning in 1983, of newly available source data for two elements of the commodity-flow procedure used to derive business purchases. First, for computers purchased by persons for nonbusiness use, BEA will replace the
assumption that persons do not purchase computers. Information to be
released from the Bureau of Labor Statistics 1984 Consumer Expenditures Survey will provide the basis for estimating the total value of these
purchases. The resulting revision will reduce business purchases of computers and PDE. Second, for the valuation adjustment for own-use equipment, BEA will revise the estimated percentage of shipments accounted
for by own-use computers primarily on the basis of information from the
1982 Census of Business. This revision will increase business purchases
of computers and PDE. It appears that the combined effect of the revisions to these two elements will reduce business purchases of computers
and PDE; for 1984, the reduction is likely to be as much as $lx/2 billion.
Further, the annual revision will reflect the incorporation in personal
consumption expenditures (PCE) of the estimates of computers purchased
by persons based on the 1984 Consumers Expenditures Survey. In order
to incorporate this estimate, an as yet unknown amount of computers
that have been included in PCE since 1980 through the use of retail store
sales as an extrapolator must be removed.
By THOMAS M. HOLLOWAY
The Cyclically Adjusted Federal Budget and Federal Debt:
Revised and Updated Estimates
and expenditures, revisions in the
actual measures result in a dollar-fordollar change in the corresponding cyclically adjusted measures, ceteris
paribus.2 The same methodological
approach applies to the income components—wages and salaries, corporate profits, etc.—used to estimate cyclically adjusted tax bases. Because of
the way the cyclically adjusted tax
bases are used in the model, the net
effect on cyclically adjusted receipts
of revisions in the actual income components is much smaller than the
effect of revisions in actual receipts.
The second way the NIPA revisions
affect the estimates is through trend
GNP. Trend GNP—the reference path
from which cyclical fluctuations are
measured—depends on actual constant-dollar GNP. In the case of
middle-expansion trend GNP, geometric means of actual GNP for each
middle expansion are connected to
form the series. In the case of 6-percent unemployment rate trend GNP,
regression results based on actual
GNP are used to construct the series.
In both cases, NIPA revisions affect
the
trends, the gaps between actual
Effects of the NIPA revisions
and trend GNP, and the cyclical adThe NIPA revisions affect the esti- justment corresponding to the gaps.
mates of the cyclically adjusted
The third way the NIPA revisions
budget in three important ways. First, affect the estimates is through reestibecause cyclically adjusted receipts mated regression equations. The most
and expenditures are derived by sub- important regression equations intracting estimates of the automatic clude those used to estimate cyclically
cyclical responses from actual receipts adjusted income components, cyclical
tax elasticities, and the cyclical adNOTE.— Frank de Leeuw collaborated on the
justment
of net interest paid. In most
conceptual work underlying the revised and upcases,
the
specifications of the regresdated estimates. Jane S. Reeb and Ivy D.
sion equations were not changed;
Dunson assisted in preparing the estimates.
however, partly as a result of the
NIPA revisions, some of the equations
1. See Frank de Leeuw and Thomas M. Holloway,
1 HE cyclically adjusted budget is an
estimate of what the Federal budget
would be after removing the automatic responses of receipts and expenditures to economic fluctuations. The
uses of the cyclically adjusted budget
and the methods to measure it have
been discussed in several earlier BEA
publications.1
This article presents revised and
updated estimates of the cyclically adjusted budget, cyclically adjusted
debt, and trend GNP. The revisions
are primarily due to the comprehensive revisions of the national income
and product accounts (NIPA's) that
became available in December 1985.
The first section focuses on how the
NIPA revisions affect the estimates.
The second section presents revised
and updated estimates of the cyclically adjusted budget and debt, based on
middle-expansion trend GNP. The
final section presents revised and updated estimates of a variant of the cyclically adjusted budget, based on 6percent unemployment rate trend
GNP.
"Cyclical Adjustment of the Federal Budget and Federal Debt," SURVEY OF CURRENT BUSINESS 63 (December 1983): 25-40 and Thomas M. Holloway, Cyclical
Adjustment of the Federal Budget and Federal Debt:
Detailed Methodology and Estimates, Bureau of Economic Analysis staff paper no. 40 (Washington, DC:
U.S. Government Printing Office, 1984).
2. The methodological approach is referred to as the
"gross-up method." It is described in detail in Frank
de Leeuw, Thomas M. Holloway, Darwin G. Johnson,
David S. McClain, and Charles A. Waite, "The HighEmployment Budget: New Estimates, 1955-80,"
SURVEY 60 (November 1980): 15-16, 18-19.
Table 1.—Revisions in Estimates of the
Cyclically Adjusted Surplus or Deficit
Based on Middle-Expansion Trend GNP,
Selected Quarters
[Billions of dollars; seasonally adjusted annual rates]
Year and
quarter
PreviousRevised
ly
surplus published
or deficit surplus
or deficit
(-)
,(-)
Source of
revision
Revision
Data
revisions
Reestimated
equations
1968:1
II
-22.3
-27.1
-20.1
-24.9
-2.2
-2.2
-2.2
-2.3
0
1970: III
IV
-14.2
-13.9
-11.8
-11.4
-2.4
-2.5
-2.0
-1.8
-.4
-.7
1977: I
II
-28.4
-37.0
-30.5
-40.6
1982: II
Ill
IV
-62.9
-95.5
-131.2
1983- I
-120.7
.1
2.1
3.6
1.4
2.9
.7
.7
-60.5
-102.9
-141.2
-2.4
7.4
10.0
-1.5
8.8
11.4
-.9
-1.4
-1.4
-116.2
-4.5
-3.4
-1.1
were respecified to improve their performance. An example of a respecified
equation is the one used to estimate
the cyclical adjustment of net interest
paid.
Chart 4 shows the revised and previously published estimates of the cyclically adjusted surplus or deficit as
percentages
of middle-expansion
trend GNP. The chart illustrates that
there is little difference between the
two series in most quarters. Table 1
shows the sources of the revisions in
selected quarters when there is a noticeable difference in chart 4. In the
table, "data revisions" reflect the first
two ways the NIPA revisions affect
the cyclically adjusted surplus or deficit; "reestimated equations" reflect
the third way. In all quarters, data
revisions are the major source of revision. The effects of reestimated equations are sometimes more important
for specific categories of receipts and
expenditures than is suggested by the
net effect on the surplus or deficit.3
3. An example occurs in the second quarter of 1982.
Reestimated equations caused decreases in cyclically
adjusted receipts and expenditures of about $2.5 billion and $1.6 billion, respectively. The net effect on
the deficit was a $0.9 billion increase.
11
12
SURVEY OF CURRENT BUSINESS
March 1986
4
Cyclically Adjusted Surplus or Deficit, Percent of Trend GNP
Percent
Percent
-5 -6 I t i i 1 > i l l I > i.h'i.t I'M tif 1 1 1 1 1 i J > t . t I i l l i.j; M...1 11 i huh
1955
57
59
61
63
65
67
t i \ \ t i l t | t I t i rt i it I | n 1 r ( I I t i 11 u t 1t t1'-| Ml l i t t I t..n I nil f u I j i | t . i . f i..h i fj -6
69
71
73
75
77
79
81
83
85
NOTE.—Cyclical adjustment based on middle-expansion trend GNP.
U.S. Department of Commerce, Bureau of Economic Analysis
Revised estimates based on
middle-expansion trend GNP
Table 2 shows revised estimates of
middle-expansion trend GNP and the
companion middle-expansion trend
unemployment rate. The growth rates
in middle-expansion trend GNP are
lower than those previously published
because the revised growth rates in
actual constant-dollar GNP are
lower.4 The table also shows the unemployment rate gap and the GNP
gap. These gaps play a key role in determining the size and sign of the cyclical adjustment to the actual
budget. A positive GNP gap is associated with a positive adjustment to
actual receipts in estimating cyclically adjusted receipts; a positive unemployment rate gap is associated with a
positive adjustment to actual expenditures in estimating cyclically adjusted
expenditures.
The cyclically adjusted budget
based on these trends and gaps is
shown in table 3. The table shows receipts, expenditures, and the surplus
or deficit in billions of dollars and as
percentages of trend GNP. The table
also decomposes changes in the cyclically adjusted budget into those resulting from the automatic effects of
inflation and those resulting from discretionary policy changes and other
4. The middle-expansion trend GNP growth rates by
period were revised for 1956-62 from 3.5 to 3.4 percent, for 1962-72 from 4.0 to 3.8 percent, for 1972-77
from 2.9 to 2.6 percent, for 1977-81 from 2.7 to 2.5 percent, and for 1981-85 from 2.5 to 2.1 percent.
factors. The revised estimates confirm
several points that had been apparent
in the previously published estimates:
• Starting in the fourth quarter of
1982,
the
deficit-to-GNP
ratio
matched or exceeded the ratio in all
previous quarters except for the
second quarter of 1975.5
• The rise in the deficit-to-GNP
ratio in recent years has been the
result of a decline in the receipts-toGNP ratio in combination with an increase in the expenditures-to-GNP
ratio.
• The automatic inflation effects
tend to move the budget toward surplus. With the deceleration of inflation, the magnitude of these effects
declined in recent years from those in
the late 1970's and early 1980's.
The rise in the cyclically adjusted
deficit-to-GNP ratio contributed to a
rise in the cyclically adjusted debt-toGNP ratio. In earlier articles, it was
suggested that the debt-to-GNP ratio
has important effects on macroeconomic developments.6 Specifically, an
increase in the cyclically adjusted
debt-to-GNP ratio is associated with
an increase in interest rates and a decline in the capital-output ratio.
5. In the second quarter of 1975, the Tax Reduction
Act of 1975 caused a sharp one-quarter decline in receipts and resulted in the increase in the deficit.
6. See de Leeuw and Holloway, "Cyclical Adjustment of the Federal Budget and Federal Debt," pp.
37-40. Also see Frank de Leeuw and Thomas M.
Holloway, "The Measurement and Significance of the
Cyclically Adjusted Federal Budget and Debt," Journal of Money, Credit, and Banking 17 (May 1985): 23242.
Changes in the cyclically adjusted
debt-to-GNP ratio are related to cyclically adjusted receipts and expenditures in the following way:7
E
Y
T , A£
~Y~
Y
Z _
~y~
where:
D
Y
E
T
L
Z
g
=
cyclically adjusted Federal debt held
by the public at the end of the
period;
— middle-expansion trend GNP in current dollars;
— cyclically adjusted expenditures;
= cyclically adjusted receipts;
= Federal direct loans at the end of
the period;
= other debt-deficit discrepancy items
equal to the change in debt minus
the deficit minus the change in
loans (AD - (E - T) - AL);8
= the growth rate of Y, which is AY7
7. Using the definitions in the text following equation (1) and letting the numerical subscripts represent
time lags, the debt-to-GNP ratio can be factored as follows:
/ DA
FF-!
F-iF
(D-iV AD) F-! - D-! (F-! •+ AF)
YY-,
AF
F
\ F
From the definitions of the variables, AD = E AL + Z; substituting for AD gives:
AL
E
T
F
F
F
Y
the equ#ti*>n shown in the text.
8. The other discrepancy items include net purchases of land, timing differences between NIPA and
unified budget receipts, and changes in U.S. Treasury
operating cash. A complete list of the items is shown
in table 10 of de Leeuw and Holloway, "Cyclical Adjustment of the Federal Budget and Federal Debt," p.
39.
PH
-(^>-
The first two terras on thef righthand side involve receipts afnd expenditures and together represent the
deficit-to-GNP ratio. The next two
terms involve direct loans and other
discrepancy items between the NIPA
Federal sector deficit and the change
in debt. The final term, referred to as
the "trend GNP growth factor," basically measures the effects of growth
in trend GNP on the denominator of
the debt-to-GNP ratio,
Table 4 shows the terms of equation
(D and the changes in the cyclically
adjusted debt-to-GNP ratio annually
Table 2.—Trend and Actual Unemployment Rate and GNP
Unemployment rate
Year and
quarter
Unemployment rate
GNP
Percent
Middleexpansion
trend
Actual
(1)
(2)
Gap:
(1) - (2)
(3)
Middle-expansion
trend
1982
dollars
Current
dollars
(4)
(5)
Actual
in 1982
dollars
(6)
Gap:
(4) - (6) x 100
(4)
4.4
4.1
4.3
6.8
5.5
5.5
6.7'
5.5
5.7
5.2
4.5
3.8
3.8
3.6
3.5
4.9
5.9
5.6
4.9
5.6
8.5
7.7
7.1
6.1
5.8
7.1
7.6
9.7
9.6
7.5
7.2
-0.4
.1
.2
-1.9
-.2
0
11
.2
0
.5
1.2
1.8
1.8
2.0
2.0
.6
4
.1
.8
.4
-2.2
-1.2
-.3
.9
1.3
.2
-.2
-2.3
-2.2
_i
'.2
1,476.4
1,522.0
1,558.0
1,593.6
1,630.8
1,683.2
1,740.8
1,800.5
1,867.0
1,937.8
2,011.3
2,087.7
2,166.9
2,249.1
2,334.4
2,423.0
2,514.9
2,606.5
2,677.5
2,746.5
2,817.2
2,889.8
2,963.9
3,037.7
3,112.8
3,189.8
3,266.6
3,336.5
3,407.2
3,479.3
3,553.2
400.9
427.3
452.6
472.9
496.6
521.0
544.0
574.4
604.9
637.6
679.4
730.3
779.0
849.1
929.2
1,018.4
1,116.8
1,211.5
1,327.0
1,483.4
1,670.9
1,821.5
1,994.2
2,193.5
2,446.3
2,734.2
3,068.5
3,337.6
3,535.1
3,761.4
3,969.1
1,494.9
1,525.6
1,551.1
1,539.2
1,629.1
1,665.3
1,708.7
1,799.4
1,873.3
1,973.3
2,087.6
2,208.3
2,271.4
2,365.6
2,423.3
2,416.2
2,484.8
2,608.5
2,744.1
2,729.3
2,695.0
2,826.7
2,958.6
3,115.2
3,192.4
3,187.1
3,248.8
3,166.0
3,277.7
3,492.0
3,570.0
13
-.2
.4
3.4
.1
1.1
1.8
.1
3
-1.8
-3.8
-5.8
-4.8
-5.2
-3.8
.3
12
.1
-2.5
.6
4.3
2.2
.2
-2.6
26
.1
.5
5.1
3.8
-.4
-.5
1955- I
II
III
IV
1956- 1
II
Ill
IV
1957- 1
II
Ill
4.0
4.0
4.0
4.1
4.1
4.1
4.1
4.2
4.3
4.4
4.5
4.6
4.7
4.8
4.9
5.0
5.1
5.2
5.3
5.4
5.4
5.4
5.5
5.5
5.5
5.6
5.6
5.6
5.7
5.7
5.7
5.7
5.7
5.7
5.7
5.7
5.7
5.7
5.7
5.7
5.7
5.7
5.7
5.6
5.6
5.6
5.6
5.6
4.7
4.4
4.1
4.2
4.0
4.2
4.1
4.1
4.0
4.1
4.2
4.9
6.3
7.4
7.3
6.4
5.8
5.1
5.3
5.6
5.2
5.2
5.6
6.3
6.8
7.0
6.8
6.2
5.6
5.5
5.6
5.5
5.8
5.7
5.5
5.6
5.5
5.2
5.0
5.0
4.9
4.7
4.4
4.1
3.9
3.8
3.8
3.7
-.7
-.4
1
-.2
.1
-.1
0
.1
.4
.4
.3
-.3
16
-2.5
-2.4
-1.3
-.7
.1
0
-.2
.2
.2
-.8^
391.0
398.5
404.6
409.3
417.1
423.4
430.9
437.9
445.0
449.1
456.0
460.4
466.2
470.4
474.6
480.5
488.0
494.0
500.1
504.3
513.6
517.9
524.0
528.4
532.8
540.8
548.9
553.5
563.5
570.1
576.7
587.3
594.6
600.2
607.7
617.2
624.8
632.6
642.4
650.4
664.4
672.6
685.0
695.5
710.2
723.1
736.2
751.5
1,469.6
1,485.7
1,505.5
1,518.7
1,515.7
1,522.6
1,523.7
1,540.6
1,553.3
1,552.4
1,561.5
1,537.3
1,506.1
1,514.2
1,550.0
1,586.7
1,606.4
1,637.0
1,629.5
1,643.4
1,671.6
1,666.8
1,668.4
1,654.1
1,671.3
1,692.1
1,716.3
1,754.9
1,777.9
1,796.4
1,813.1
1,810.1
1,834.6
1,860.0
1,892.5
1,906.1
1,948.7
1,965.4
1,985.2
1,993.7
2,036.9
2,066.4
2,099.3
2,147.6
2,190.1
2,195.8
2,218.3
2,229.2
-.7
-1.0
-1.6
-1.7
-.7
.3
.3
3
-1.2
-1.4
-1.2
-.6
0
.2
.2
.2
.1
0
.2
.1
.2
.5
.7
.7
.8
1.0
1.3
1.5
1.8
1.8
1.9
1.9
1,459.0
1,470.5
1,482.2
1,493.9
1,505.7
1,517.7
1,528.0
1,536.6
1,545.2
1,553.9
1,561.5
1,571.4
1,580.2
1,589.1
1,598.0
1,607.0
1,616.0
1,625.1
1,634.2
1,648.0
1,662.0
1,676.0
1,690.2
1,704.4
1,718.8
1,733.4
1,748.0
1,762.8
1,777.7
1,792.7
1,807.8
1,823.9
1,841.0
1,858.2
1,875.6
1,893.1
1,910.8
1,928.7
1,946.7
1,964.9
1,983.3
2,001.9
2,020.6
2,039.5
2,058.6
2,077.8
2,097.3
2,116.9
5.6
5.6
5.6
5.6
3.8
3.8
3.8
3.9
1.8
1.8
1.8
1.7
2,136.7
2,156.7
2,176.8
2,197.2
762.8
769.9
783.6
799.8
2,241.8
2,255.2
2,287.7
2,300.6
-4.9
-4.6
-5.1
47
1 QRFi- T
II
Ill
IV
1966: I
II
III
IV
1967- I
II
Ill
IV
Middleexpansion
trend
-.5
.1
0
2.2
4.7
4.7
3.0
1.3
.6
-.7
.3
.3
6
.5
1.3
3.0
2.8
2.4
1.8
.4
0
-.2
-.3
.8
.3
-.1
-.9
-.7
2.0
-1.9
-2.0
-1.5
-3.2
-3.9—
53
-6.4
-5.7
-5.8
-5.3
1968- 1
II
HI
IV
1969: I
II
III
IV
1970: I
II
Ill
IV
1971: 1
II
Ill
IV
1972- 1
II
III
rv
1973- I
II
Ill
IV
1974: I
II
Ill
IV
1975: I
II
Ill
IV
1976- I
II
Ill
IV
1977. i
II
Ill
IV ...
1978- I
II
Ill
IV
1979: I
II
Ill
IV
1980: I
II
Ill
IV
1981: I
II
III
IV
1982: I
II ....
Ill
IV
1983- I
II
IV
1984- 1
II
Ill
IV
1985- I
II ..
Ill
IV
Billions of dollars: quarters at
seasonally adjusted annual
rates
Gap:
Actu-y (1) - (2)
al
(2)
(1)
4.0
4.2
4.5
4.9
5.3
5.5
5.6
5.7
5.7
5.7
5.7
5.6
5.6
5.6
5.5
5.5
5.5
5.5
5.7
6.0
6.3
6.5
6.8
7.0
7.1
7.3
7.4
7.4
7.4
7.4
7.4
rv
Year and
quarter
(7)
1955...
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978..
1979
1980
1981 ..
1982
1983..
1984
1985
1958- 1
II
HI
IV
1959: I
II
Ill
IV
I960: I
II
III
IV
1961: I
II
III
IV
1962: I
II
III.
IV
1963: I
II
Ill
IV
1964: I
II
Ill
IV.
GNP
Percent
Billions of dollars: quarters at
seasonally adjusted annual
rates
5.6
5.6
5.6
5.6
5.5
5.5
5.5
5.5
5.5
5.5
5.5
5.5
5.5
5.5
5.5
5.5
5.5
5.4
5.4
5.5
5.6
5.7
5.7
5.8
5.9
5.9
6.0
6.1
6.1
6.2
6.3
6.4
6.4
6.5
6.6
6.6
6.7
6.8
6.9
6.9
6.9
7.0
7.0
7.0
7.1
7.1
7.1
7.2
7.2
7.2
7.3
7.3
7.3
7.4
7.4
7.4
3.7
3.5
3.5
3.4
3.4
3.4
3.6
3.6
4.2
4.8
5.2
5.8
5.9
5.9
6.0
6.0
5.8
5.7
5.6
5.3
5.0
4.9
4.8
4.8
5.1
5.2
5.6
6.6
8.2
8.9
8.5
8.3
7.7
7.6
7.7
7.8
7.5
7.1
6.9
6.6
6.3
6.0
6.0
5.9
5.9
5.7
5.9
5.9
6.3
7.3
7.7
7.4
7.4
7.4
7.4
8.2
7.4
7.4
7.4
7.4
7.4
7.4
7.4
7.4
7.4
7.4
7.4
7.4
7.4
7.4
7.4
7.4
8.8
9.5
9.9
10.6
10.4
10.1
9.3
8.5
7.9
7.5
7.4
7.2
7.3
7.3
7.2
7.0
(3)
1.8
2.0
2.0
2.1
2.2
2.1
1.9
1.9
1.3
.7
.3
-.3
-.4
— 4
-.5
-.5
-.3
-.2
o
.2
.6
.7
.9
1.0
.8
.7
.4
-.5
2.1
-2.6
-2.2
-1.9
-1.3
-1.0
1.2
-1.1
-.8
-.3
0
.3
.6
1.0
1.0
1.2
1.2
1.4
1.3
1.2
.9
-.1
-.4
-.1
-.1
0
0
-.8
14
-2.1
9 ^
-3.2
-3.0
27
-1.9
-.5
_i
o'
.1
.1
.1
.2
.4
Middle-expansion
trend
1982
dollars
Current
dollars
(4)
(5)
2,217.8
2,238.5
2,259.4
2,280.6
2,301.9
2,323.4
2,345.2
2,367.1
2,389.3
2,411.6
2,434.2
2,456.9
2,479.9
2,503.1
2,526.5
2,550.2
2,574.0
2,598.1
2,618.5
2,635.2
2,652.0
2,668.9
2,686.0
2,703.1
2,720.3
2,737.7
2,755.1
2,772.7
2,790.4
Actual
in 1982
dollars
(6)
Gap:
(4) _ (6) X 100
(4)
(7)
2,844.2
2,862.3
2,880.6
2,898.9
2,917.4
2,936.0
2,954.8
2,973.3
2,991.5
3,009.9
3,028.3
3,046.9
3,065.5
3,084.3
3,103.2
3,122.2
3,141.4
3,160.6
3,180.0
3,199.5
3,219.1
3,238.8
3,258.6
3,275.8
3,293.0
822.8
839.4
856.3
878.0
897.7
917.7
940.4
961.0
986.8
1,010.5
1,027.2
1,049.1
1,076.3
1,106.4
1,129.3
1,155.2
1,178.9
1,197.7
1,222.8
1,246.4
1,273.0
1,307.8
1,343.0
1,384.0
1,411.8
1,451.0
1,509.8
1,561.0
1,610.1
1,645.6
1,692.8
1,735.0
1,766.0
1,800.4
1,837.9
1,881.7
1,926.0
1,976.8
2,012.9
2,061.1
2,103.9
2,168.3
2,221.2
2,280.7
2,347.2
2,414.3
2,479.0
2,544.5
2,613.8
2,690.3
2,767.6
2,865.0
2,957.0
3,024.0
3,108.7
3,184.3
2,327.3
2,366.9
2,385.3
2,383.0
2,416.5
2,419.8
2,433.2
2,423.5
2,408.6
2,406.5
2,435.8
2,413.8
2,478.6
2,478.4
2,491.1
2,491.0
2,545.6
2,595.1
2,622.1
2,671.3
2,734.0
2,741.0
2,738.3
2,762.8
2,747.4
2,755.2
2,719.3
2,695.4
2,642.7
2,669.6
2,714.9
2,752.7
2,804.4
2,816.9
2,828.6
2,856.8
2,896.0
2,942.7
3,001.8
2,994.1
3,020.5
3,115.9
3,142.6
3,181.6
3,181.7
3,178.7
3,207.4
3,201.3
3,233.4
3,157.0
3,159.1
3,199.2
3,261.1
3,250.2
3,264.6
3,219.0
-4.9
57
-5.6
45
-5.0
-4.1
38
-2.4
-.8
.2
.1
1.8
.1
1.0
1.4
2.3
1.1
.1
-.1
14
31
-2.7
-1.9
22
1.0
-.6
1.3
2.8
5.3
4.9
3.9
3.2
2.0
2.2
2.4
2.1
1.4
.4
10
-.1
-.4
-2.9
31
-3.8
-3.2
24
-2.7
-1.9
-2.3
.7
1.3
.6
—7
'.3
.3
2.2
3,310.3
3,327.7
3,345.2
3,362.8
3,380.4
3,398.2
3,416.0
3,434.0
3,452.0
3,470.2
3,488.4
3,506.7
3,525.2
3,543.8
3,562.5
3,581.3
3,250.7
3,307.7
3,372.0
3,420.0
3,461.5
3,506.9
3,556.1
3,616.0
3,679.8
3,733.9
3,788.4
3,843.3
3,891.8
3,944.2
3,993.6
4,046.9
3,170.4
3,179.9
3,154.5
3,159.3
3,190.6
3,259.3
3,303.4
3,357.2
3,449.4
3,492.6
3,510.4
3,515.6
3,547.8
3,557.4
3,584.1
3,590.8
4.2
4.4
5.7
6.1
5.6
4.1
3.3
2.2
.1
-.6
-.6
-.3
6
— 4
-'.6
-.3
1
13
14
SURVEY OF CURRENT BUSINESS
for 1956-85. An addendum to the
table presents the debt-to-GNP ratio.
Chart 5 shows quarterly estimates of
the cyclically adjusted receipts- and
expenditures-to-GNP ratios, and the
debt-to-GNP ratio. Table 5 shows
quarterly estimates of actual debt, cyclically adjusted debt, and the cyclically adjusted debt-to-GNP ratio. The
revised estimates confirm several
March 1986
points that had been apparent in the
previously published estimates:
• The debt-to-GNP ratio declined
during most quarters from 1955-74,
was relatively flat from 1974-82, then
Table 3.—Cyclically Adjusted Federal Receipts and Expenditures
[Billions of dollars; quarters at seasonally adjusted annual rates]
Receipts
Year and
quarter
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 ..
1971
1972
1973
1974
1975 .
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985 P
1955: I
II
III
IV
1956: I
II
III
IV
1957- I
II
Ill
IV
1958- I.
II
III
IV
1959- I
II
HI
IV
I960- I
II
III
IV
1961- I
II.
Ill
IV
1962: I
II
III
IV
1963: I
II
III
IV
1964- I
II
III
IV
1965- I
II
Ill
IV
1966: I
II
III
IV
p
.
Level
.
.
.
...
..
..
Percentage of
trend
GNP
Total
Surplus or deficit (— )
Expenditures
Due to
automatic
inflation
effects
Due to
discretionary
policy
and other
factors
Change from preceding period
Change from preceding period
Change from preceding period
Level
Percentage of
trend
GNP
Total
Due to
automatic
inflation
effects
Due to
discretionary
policy
and other
factors
Level
Percentage of
trend
GNP
Total
71.7
78.3
83.0
83.5
90.7
98.6
101.8
107.4
115.1
113.4
119.6
133.0
143.5
165.6
190.6
197.5
207.5
233.5
256.6
297.2
314.2
352.4
386.7
427.8
488.6
555.1
646.4
682.7
699.9
725.8
781.9
17.9
18.3
18.3
17.7
18.3
18.9
18.7
18.7
19.0
17.8
17.6
18.2
18.4
19.5
20.5
19.4
18.6
19.3
19.3
20.0
18.8
19.3
19.4
19.5
20.0
20.3
21.1
20.5
19.8
19.3
19.7
6.6
4.7
.5
7.2
7.9
3.2
5.6
7.7
-1.7
6.2
13.4
10.5
22.1
25.0
6.9
10.0
26.0
23.1
40.6
17.0
38.2
34.3
41.1
60.8
66.5
91.3
36.3
17.2
25.9
56.1
2.8
3.0
1.3
2.2
.9
.6
2.3
1.6
1.8
3.6
5.2
3.8
9.0
10.5
11.7
11.8
9.4
18.2
27.5
33.8
21.1
27.0
33.6
47.0
53.1
62.7
43.9
22.2
28.6
21.1
3.8
1.7
-.8
5.0
7.0
2.6
3.3
6.1
35
2.6
8.3
6.7
13.2
14.5
-4.9
-1.8
16.6
4.9
13.1
-16.7
17.1
7.3
7.5
13.8
13.4
28.6
-7.6
-5.0
28
35.0
68.4
72.5
80.4
88.3
91.5
93.8
102.0
111.5
115.4
120.0
126.5
147.4
168.0
185.8
194.6
208.3
224.3
249.0
270.1
306.2
358.7
390.3
429.4
473.1
524.9
615.6
702.1
771.5
829.4
897.1
984.6
17.1
17.0
17.8
18.7
18.4
18.0
18.8
19.4
19.1
18.8
18.6
20.2
21.6
21.9
20.9
20.5
20.1
20.6
20.4
20.6
21.5
21.4
21.5
21.6
21.5
22.5
22.9
23.1
23.5
23.9
24.8
4.1
7.9
7.9
3.2
2.3
8.2
9.5
3.9
4.6
6.5
20.9
20.6
17.8
8.8
13.7
16.0
24.7
21.1
36.1
52.5
31.6
39.1
43.7
51.8
90.7
86.5
69.4
57.9
67.7
87.5
0
0
0
0
0
0
0
0
.1
0
.3
.6
.7
1.1
1.4
4.0
4.9
3.9
7.5
11.2
12.8
13.1
15.4
20.6
29.4
37.1
31.9
16.8
18.8
21.8
4.1
7.9
7.9
3.2
2.3
8.1
9.6
3.8
4.5
6.4
20.7
20.0
17.1
7.7
12.3
12.0
19.8
17.2
28.6
41.2
18.8
26.1
28.3
31.2
61.3
49.4
37.6
41.1
49.0
65.7
3.3
5.8
2.7
48
g
4.8
1
4i
3
66
-6.9
-14.4
-24.6
-20.2
40
-10.9
-16.8
-15.6
-13.5
-9.1
444
-37.9
-42.7
453
-36.3
605
-55.6
-88.9
1295
-171.3
-202.7
.8
1.4
.6
-1.0
2
.9
0
-.7
0
-1.0
10
-2.0
32
-2.4
-.4
-1.1
-1.5
13
-1.0
6
-2.7
-2.1
-2.1
-2.1
-1.5
22
-1.8
-2.7
-3.7
-4.6
-5.1
69.4
70.9
72.4
74.2
75.8
77.9
78.6
80.8
82.8
83.2
83.2
82.9
82.5
82.4
83.9
85.3
89.0
91.3
90.9
91.6
97.9
98.1
98.5
99.8
99.5
101.2
102.6
103.9
104.4
105.9
108.2
111.2
113.4
115.3
115.0
116.8
113.5
110.5
113.5
116.1
119.8
120.5
118.2
119.8
126.9
132.6
134.8
137.8
17.7
17.8
17.9
18.1
18.2
18.4
18.2
18.5
18.6
18.5
18.2
18.0
17.7
17.5
17.7
17.8
18.2
18.5
18.2
18.2
19.1
18.9
18.8
18.9
18.7
18.7
18.7
18.8
18.5
18.6
18.8
18.9
19.1
19.2
18.9
18.9
18.2
17.5
17.7
17.9
18.0
17.9
17.3
17.2
17.9
18.3
18.3
18.3
1.5
1.5
1.8
1.6
2.1
.7
2.2
2.0
.4
0
-.3
-.4
1
1.5
1.4
3.7
2.3
-.4
.7
6.3
.2
.4
1.3
3
1.7
1.4
1.3
.5
1.5
2.3
3.0
2.2
1.9
-.3
1.8
-3.3
30
3.0
2.6
3.7
.7
-2.3
1.6
7.1
5.7
2.2
3.0
1.0
.4
1
.5
1.1
1.9
.5
1.4
-.3
1.1
1.0
.5
11
— 4
-.8
-.2
1.5
.7
2.5
1.8
-.8
1.2
5.1
.5
.3
1.5
0
.7
.5
1.8
-.8
1.2
2.2
1.5
1.9
2.4
-.7
.7
-3.6
32
2.2
2.4
1.7
.5
-3.5
.8
5.3
4.3
1.0
1.1
67.9
66.9
69.3
69.4
70.0
72.2
72.9
74.8
79.0
80.5
80.6
81.3
83.1
86.8
90.5
92.7
90.7
90.7
92.3
92.4
91.2
93.3
94.9
95.9
98.7
101.6
102.7
104.8
109.8
110.3
111.8
114.1
114.6
113.3
115.4
118.2
119.8
120.5
119.7
120.0
120.4
122.9
128.9
133.7
139.4
143.6
150.8
155.9
17.4
16.8
17.1
17.0
16.8
17.1
16.9
17.1
17.8
17.9
17.7
17.7
17.8
18.5
19.1
19.3
18.6
18.4
18.5
18.3
17.8
18.0
18.1
18.1
18.5
18.8
18.7
18.9
19.5
19.3
19.4
19.4
19.3
18.9
19.0
19.2
19.2
19.0
18.6
18.5
18.1
18.3
18.8
19.2
19.6
19.9
20.5
20.7
-1.0
2.4
.1
.6
2.2
.7
1.9
4.2
1.5
.1
.7
1.8
3.7
3.7
2.2
-2.0
0
1.6
.1
-1.2
2.1
1.6
1.0
2.8
2.9
1.1
2.1
5.0
.5
1.5
2.3
.5
-1.3
2.1
2.8
1.6
.7
-.8
•3
.4
2.5
6.0
4.8
5.7
4.2
7.2
5.1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-1.0
2.4
.1
.6
2.2
.7
1.9
4.2
1.5
.1
.7
1.8
3.7
3.7
2.2
-2.0
0
1.6
.1
12
2.1
1.6
1.0
2.8
2.9
1.1
2.1
5.0
.5
1.5
2.3
.5
-1.3
2.1
2.7
1.6
.7
-.8
.3
.4
2.5
6.0
4.7
5.6
4.2
7.1
4.9
1.4
4.0
3.1
4.8
5.8
5.6
5.7
6.0
3.8
2.7
2.6
1.6
-.6
44
-6.6
-7.4
-1.7
.6
13
-.9
6.7
4.9
3.5
3.9
.8
3
-.1
-.9
-5.5
-4.4
-3.7
-2.9
-1.2
1.9
-.4
-1.5
-6.3
-10.0
-6.1
-4.0
-.6
-2.4
-10.7
-13.9
-12.5
-11.0
159
-18.1
.4
1.0
.8
1.2
1.4
1.3
1.3
1.4
.9
.6
.6
.3
Preliminary.
1.1
.7
1.0
1.1
1.0
-.1
1.1
.1
.4
.1
0
.7
1.2
.5
.4
-.5
1.2
-.3
.1
-.2
-.3
1.0
.9
-.5
1.3
.3
.1
1.5
.3
-.5
.4
1.1
.3
.2
.8
.2
2.0
.2
1.2
.8
1.8
1.4
1.2
1.9
.1
0
0
0
0
0
0
0
.1
.1
0
.1
.2
r
-.9
-1.4
15
-.3
.1
-.3
2
1.3
.9
.7
.7
.2
_i
o'
-.2
-1.0
8
-.6
5
-.2
.3
— 1.
2
10
-1.6
-.9
-.6
-.1
-.4
-1.6
-2.0
-1.8
15
-2.2
-2.4
Due to
automatic
inflation
effects
Due to
discretionary
policy
and other
factors
2.5
31
-7.5
4.0
5.6
-4.9
-4.0
3.8
-6.3
-.3
-7.5
-10.2
4.4
16.2
69
-5.9
1.2
2.1
4.4
-35.3
6.5
48
-2.6
9.0
-24.2
4.9
333
-40.6
-41.8
314
2.8
2.9
1.2
2.2
.9
.6
2.3
1.6
1.7
3.5
4.9
3.2
8.3
9.5
10.2
7.8
4.4
14.4
20.0
22.5
8.2
13.9
18.3
26.5
23.7
25.8
12.0
5.6
9.9
-.7
-.3
-6.0
-8.6
1.7
4.6
-5.5
-6.3
2.2
-8.0
-3.8
-12.4
-13.4
-3.9
6.8
-17.1
-13.8
-3.2
-12.3
-15.6
-57.9
-1.7
-18.7
-20.8
-17.6
-47.9
-20.9
-45.3
-46.2
-51.8
-30.7
2.6
— 9
1.1
1.0
-.2
.1
.3
22
-1.1
1
-1.0
-2.2
-3.8
22
-.8
5.7
2.3
-1.9
.4
7.6
-1.8
-1.4
.4
-3.1
-1.1
.2
-.8
-4.6
1.1
.7
.8
1.7
3.1
-2.3
1i
1.0
.4
-.1
1.1
.7
1.0
1.1
1.0
-.2
1.0
.1
.4
.1
0
.7
1.2
.5
.4
-.5
1.2
-.3
.1
-.2
-.3
1.0
.9
-.5
J.3
.3
.1
1.5
.3
-.5
.4
1.0
.3
.2
.8
.2
1.9
.2
1.2
.8
1.7
1.3
1.1
1.8
1.6
-1.3
1.8
-.1
-.9
-.9
-.8
-3.2
-.9
-1.1
-1.1
-2.6
-3.9
-2.2
-1.5
4.5
1.8
-2.3
.9
6.4
-1.5
-1.5
.6
-2.8
-2.1
-.7
-.3
-5.9
.8
.6
-.7
1.4
3.6
-2.7
-2.1
-5.1
-3.9
3.1
1.9
1.5
-2.0
-9.5
-4.0
-.3
.2
-6.0
40
-4.8
-3.7
3.9
2.1
3.4
-1.8
83
-3.2
1.4
1.5
-4.9
-2.2
March 1986
SURVEY OF CURRENT BUSINESS
increased every quarter starting with
the third quarter of 1982.
• The debt-to-GNP ratio declined or
remained flat during many quarters
when the cyclically adjusted budget
was in deficit (i.e., when the expenditures line is above the receipts line in
chart 5).
• Given conditions at 1985 levels, a
cyclically adjusted
deficit-to-GNP
15
ratio of about 1.2 percent would halt
the increase in the cyclically adjusted
debt-to-GNP ratio. At 1985 levels, that
implies about a $48 billion cyclically
adjusted deficit.
Table 3.—Cyclically Adjusted Federal Receipts and Expenditures—Continued
[Billions of dollars; quarters at seasonally adjusted annual rates]
Receipts
Year and
quarter
1967- I
II
III
IV
1968: I
II
Ill
IV
1969:1
II
III
IV
1970: I
II
Ill
IV
' 1971: I
II
Ill
IV
1972: I
II
Ill
IV...
1973:1
II
Ill
IV
1974: I
II
Ill
IV
1975: I
II
III
IV
1976- I
II
Ill
IV .
1977: I .
II
III
IV
1978- I
II
III
IV
1979- I
II
III
IV
1980: I
II
Ill
IV
1981- I
II
Ill
IV
1982: I
II
Ill
IV
1983: I
II
III
IV
1984- I
II
III
IV
1985- I
II
III
IV »
Level
1
"• Preliminary.
139.8
141.2
143.9
148.9
155.8
159.0
169.9
177.6
186.1
191.1
190.2
195.0
194.9
199.5
195.5
199.9
200.4
205.4
208.0
216.0
232.5
230.8
233.4
237.2
248.1
252.5
258.6
267.2
278.5
289.5
309.1
311.5
316.6
281.3
326.2
332.8
340.3
348.8
357.4
363.1
380.2
383.6
383.8
399.2
406.3
420.4
435.0
449.5
468.9
483.1
493.0
509.4
524.4
539.5
564.5
591.9
625.8
640.7
657.8
661.4
674.0
682.5
683.1
691.1
692.1
710.2
699.0
698.4
716.5
720.4
724.5
741.8
784.7
752.4
785.8
804.7
Percentage of
trend
GNP
18.3
18.3
18.4
18.6
18.9
18.9
19.8
20.2
20.7
20.8
20.2
20.3
19.8
19.7
19.0
19.1
18.6
18.6
18.4
18.7
19.7
19.3
19.1
19.0
19.5
19.3
19.3
19.3
19.7
20.0
20.5
20.0
19.7
17.1
19.3
19.2
19.3
19.4
19.4
19.3
19.7
19.4
19.1
19.4
19.3
19.4
19.6
19.7
20.0
20.0
19.9
20.0
20.1
20.1
20.4
20.7
21.2
21.2
21.2
20.8
20.7
20.6
20.3
20.2
20.0
20.3
19.7
19.3
19.5
19.3
19.1
19.3
20.2
19.1
19.7
19.9
Total
2.0
1.4
2.7
5.0
6.9
3.2
10.9
7.7
8.5
5.0
9
4.8
-.1
4.6
40
4.4
.5
5.0
2.6
8.0
16.5
-1.7
2.6
3.8
10.9
4.4
6.1
8.6
11.3
11.0
19.6
2.4
5.1
-35.3
44.9
6.6
7.5
8.5
8.6
5.7
17.1
3.4
.2
15.4
7.1
14.1
14.6
14.5
19.4
14.2
9.9
16.4
15.0
15.1
25.0
27.4
33.9
14.9
17.1
3.6
12.6
8.5
.6
8.0
1.0
18.1
-11.2
-.6
18.1
3.9
4.1
17.3
42.9
-32.3
33.4
18.9
Surplus or deficit (— )
Expenditures
Change from preceding period
Due to
automatic
inflation
effects
.6
-.7
1.5
2.3
3.9
1.6
1.4
3.4
2.6
2.5
3.5
2.6
4.0
3.3
.7
2.2
4.1
4.4
1.9
2.6
2.3
.8
3.3
3.5
4.0
6.4
6.1
7.4
3.2
6.6
13.3
9.9
8.7
5.1
7.5
7.1
3.0
4.2
5.6
7.2
7.1
9.0
4.0
7.6
6.6
12.9
9.3
10.8
12.9
12.7
11.4
11.5
12.5
14.4
14.4
20.4
18.0
9.3
16.2
14.2
10.4
7.8
10.5
5.1
2.9
4.5
5.7
8.2
9.2
5.9
6.3
6.9
3.7
5.3
4.4
5.6
Due to
discretionary
policy
and other
factors
1.4
2.1
1.2
2.7
3.0
1.6
9.5
4.3
i5.9
2.5
44
2.2
41
1.3
-4.7
2.2
-3.6
.6
.7
5.4
14.2
-2.5
7
.3
6.9
-2.0
0
1.2
8.1
4.4
6.3
-7.5
36
-40.4
37.4
5
4.5
4.3
3.0
15
10.0
-5.6
38
7.8
.5
1.2
5.3
3.7
6.5
1.5
-1.5
4.9
2.5
.7
10.6
7.0
15.9
5.6
.9
10 6
2.2
.7
99
2.9
-1.9
13.6
169
-8.8
8.9
20
-2.2
10.4
39.2
-37.6
29.0
13.3
Change from preceding period
Change from preceding period
Level
164.0
165.1
169.5
173.3
178.1
186.1
188.0
190.9
190.1
193.1
195.8
199.2
198.2
211.5
209.7
213.8
216.8
224.4
225.9
230.0
240.1
249.3
242.5
264.0
266.0
269.4
267.9
276.9
286.8
302.9
312.5
322.7
336.1
355.1
366.5
376.9
378.5
382.0
395.7
405.0
408.6
420.7
438.4
450.0
456.8
462.9
478.6
494.1
500.6
508.7
534.8
555.4
580.6
599.4
628.4
653.9
675.2
684.5
714.5
734.1
739.7
745.5
778.6
822.3
812.8
825.7
832.4
846.7
865.7
884.3
904.0
934.5
951.7
963.3
991.9
1,031.5
Percentage of
trend
GNP
21.5
21.4
21.6
21.7
21.6
22.2
22.0
21.7
21.2
21.0
20.8
20.7
20.1
20.9
20.4
20.4
20.1
20.3
20.0
19.9
20.4
20.8
19.8
21.2
20.9
20.6
19.9
20.0
20.3
20.9
20.7
20.7
20.9
21.6
21.7
21.7
21.4
21.2
21.5
21.5
21.2
21.3
21.8
21.8
21.7
21.3
21.5
21.7
21.3
21.1
21.6
21.8
22.2
22.3
22.7
22.8
22.8
22.6
23.0
23.1
22.8
22.5
23.1
24.0
23.5
23.5
23.4
23.4
23.5
23.7
23.9
24.3
24.5
24.4
24.8
25.5
Total
8.1
1.1
4.4
3.8
4.8
8.0
1.9
2.9
-.8
3.0
2.7
3.4
10
13.3
-1.8
4.1
3.0
7.6
1.5
4.1
10.1
9.2
68
21.5
2.0
3.4
15
9.0
9.9
16.1
9.6
10.2
13.4
19.0
11.4
10.4
1.6
3.5
13.7
9.3
3.6
12.1
17.7
11.6
6.8
6.1
15.7
15.5
6.5
8.1
26.1
20.6
25.2
18.8
29.0
25.5
21.3
9.3
30.0
19.6
5.6
5.8
33.1
43.7
95
12.9
6.7
14.3
19.0
18.6
19.7
30.5
17.2
11.6
28.6
39.6
Due to
automatic
inflation
effects
.2
.1
.1
.1
.2
.3
.2
.2
.3
.4
.2
.2
.5
.3
.6
.3
2.6
.4
.6
.9
2.7
.4
.5
2.4
.2
.3
1.2
2.7
2.1
1.1
1.9
3.9
1.7
1.3
7.3
3.0
1.7
1.5
6.0
3.1
1.3
2.0
6.7
4.8
1.6
1.4
8.0
5.2
2.3
2.5
12.8
6.9
2.8
3.1
19.0
10.4
4.3
3.9
18.9
9.5
3.3
3.8
13.5
5.8
1.9
1.9
1.9
1.7
12.2
2.8
2.3
2.4
13.9
2.5
2.5
4.4
Due to
discretionary
policy
and other
factors
7.9
1.0
4.3
3.7
4.6
7.7
1.7
2.7
-1.1
2.6
2.5
3.2
15
13.0
-2.4
3.8
.4
7.2
.9
3.2
7.4
8.8
-7.3
19.1
1.8
3.1
-2.7
6.3
7.8
15.0
7.7
6.3
11.7
17.7
4.1
7.4
-.1
2.0
7.7
6.2
2.3
10.1
11.0
6.8
5.2
4.7
7.7
10.3
4.2
5.6
13.3
13.7
22.4
15.7
10.0
15.1
17.0
5.4
11.1
10.1
2.3
2.0
19.6
37.9
11 4
11.0
4.8
12.6
6.8
15.8
17.4
28.1
3.3
9.1
26.1
35.2
Level
-24.2
239
-25.7
24 4
223
-27.1
18 2
-13.3
-4.0
-2.0
-5.6
42
33
-12.0
14 2
139
164
-19.0
-17.9
139
77
-18.6
91
268
-18.0
-16.9
93
-9.7
83
-13.4
-3.4
112
19 4
-73.9
-40.3
44 i
-38.2
-33.2
-38.3
41 9
284
-37.0
54 6
-50.8
-50.5
-42.4
-43.5
-44.6
31 7
25 6
-41.8
-46.0
-56.3
-59.8
-63.9
-61.9
-49.4
-43.8
-56.6
-72.7
658
-62.9
95 5
-131.2
-120.7
115 5
-133.4
-148.3
149 2
1639
-179.5
-192.6
1670
-210.9
-206.1
-226.7
Percentage of
trend
GNP
-3.2
31
-3.3
-3.1
27
-3.2
21
-1.5
-.4
-.2
-.6
4
3
-1.2
-1.4
13
15
-1.7
-1.6
12
7
-1.6
-.7
22
14
-1.3
7
7
6
-.9
-.2
7
12
45
-2.4
-2.5
-2.2
-1.8
-2.1
22
15
-1.9
27
-2.5
-2.4
20
-2.0
-2.0
14
11
-1.7
-1.8
-2.2
-2.2
-2.3
-2.2
17
-1.4
-1.8
23
20
-1.9
28
-3.8
-3.5
33
-3^8
-4.1
4i
-4.4
-4.7
-5.0
43
-5.3
-5.2
-5.6
Total
-6.1
.3
-1.8
1.3
2.1
-4.8
8.9
4.9
9.3
2.0
36
1.4
.9
-8.7
22
.3
25
-2.6
1.1
4.0
6.2
-10.9
9.5
177
8.8
1.1
7.6
— 4
1.4
-5.1
10.0
78
82
-54.5
33.6
38
5.9
5.0
-5.1
36
13.5
-8.6
176
3.8
.3
8.1
-1.1
11
12.9
6.1
16 2
-4.2
-10.3
-3.5
4i
2.0
12.5
5.6
-12.8
16 1
6.9
2.9
326
-35.7
10.5
5.2
-17.9
-14.9
9
-14.7
15 6
-13.1
25.6
-43.9
4.8
-20.6
Due to
automatic
inflation
effects
.4
-.9
1.4
2.1
3.7
1,4
1.3
3.2
2.3
2.1
3.3
2.3
3.6
2.9
.1
2.0
1.5
4.0
1.2
1.8
-.5
.3
2.9
1.1
3.8
6.1
4.9
4.7
1.1
5.5
11.5
6.0
7.0
3.8
.1
4.0
1.4
2.7
5
4.1
5.8
7.0
-2.7
2.8
5.0
11.5
1.5
5.6
10.6
10.2
-1.4
4.6
9.7
11.3
46
10.1
13.8
5.4
-2.7
4.7
7.1
4.0
-2.9
5
1.0
2.6
3.8
6.6
-3.0
3.1
4.0
4.5
-10.2
2.7
2.0
1.2
Due to
discretionary
policy
and other
factors
65
1.2
-3.2
g
16
-6.2
7.6
1.7
7.0
1
-6.9
-.9
-2.7
116
-2.3
-1.7
-4.0
-6.6
-.1
2.2
6.7
-11.2
6.6
-18.8
5.0
-5.0
2.7
-5.1
.3
-10.6
15
-13.8
-15.2
58 3
33.5
-7.8
4.5
2.3
46
-7.7
7.7
15 6
-14.9
1.0
47
-3.4
-2.6
-6.7
2.3
41
-14.8
-8.8
-20.0
-14.8
.5
81
-1.3
.2
-10.1
-20.8
2
-1.1
-29.7
35 1
9.5
2.6
217
-21.5
2.1
178
196
-17.6
35.8
466
2.8
-21.8
16
March 1986
SURVEY OF CURRENT BUSINESS
Table 4.—-Relationship of Cyclically Adjusted Receipts and Expenditures to Changes in the Ratio
of Debt Held by the Public at Par Value to Trend GNP: Percentage of Trend GNP *
Expenditures
Year
1956
1957
1958
1959
I960
1961 ...
1962
1963
1964
1965
1966
1967
1968 .
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984 p
1985
Minus:
receipts
170
17.8
18.7
184
18.0
188
19.4
191
18.8
18.6
20.2
216
21.9
20.9
205
20.1
20.6
20.4
20.6
21.5
21.4
21.5
216
21.5
22.5
22.9
231
23.5
23.9
248
Plus:
change in
direct loans
Plus: other
debt-deficit
discrepancy
items 2
03
.3
.7
7
2
6
.5
3
.3
.3
.4
13
_ ^
-.5
.5
.2
.2
.1
.6
.8
.6
.6
.9
.8
.8
.7
.7
.3
.3
.6
0.3
0
-1.4
.3
.2
0
-.2
.3
.2
.3
-.1
-.8
-.2
1.2
-.6
.1
-.3
.1
-.5
.1
.2
-.1
.1
0
-.2
.1
-.3
-.2
.4
0
183
18.3
17.7
183
18.9
187
18.7
190
17.8
17.6
18.2
184
19.5
20.5
194
18.6
19.3
19.3
20.0
18.8
19.3
19.4
195
20.0
20.3
21.1
205
19.8
19.3
19.7
Equals:
change in
debt
0.7
-.4
.3
1.2
-.5
.6
1.0
.6
1.5
1.6
2.3
3.7
2.1
1.0
1.0
1.7
1.2
1.2
.7
3.6
2.9
2.7
3.2
2.3
2.9
2.6
3.1
3.8
5.2
5.7
Minus:
trend GNP
growth
factor
3.6
3.0
2.2
2.3
2.2
1.9
2.3
2.1
2.1
2.5
2.7
2.4
3.3
3.3
3.2
3.0
2.6
2.7
3.2
3.1
2.3
2.5
2.6
3.0
3.0
3.1
2.3
1.6
1.9
1.8
Equals:
Addendum:
change in
debt-to-GNP debt-to-GNP
ratio
ratio
-4.3
-3.4
-1.9
-1.1
-2.8
-1.2
-1.3
-1.5
-.5
-.9
-.4
1.3
-1.3
-2.3
-2.1
-1.3
-1.4
-1.5
-2.5
.5
.7
.1
.6
-.7
-.2
-.5
.8
2.3
3.3
3.9
53.6
50.2
48.3
47.2
44.4
43.2
41.9
40.4
39.9
39.0
38.6
39.9
38.6
36.3
34.2
32.9
31.5
30.0
27.5
28.0
28.7
28.8
29.4
28.7
28.5
28.0
28.8
31.1
34.4
38.3
p
Preliminary.
1. Federal debt held by the public includes holdings by the Federal Reserve.
2. Includes such items as net purchases of land, timing differences between NIPA and unified budget receipts, and changes in
U.S. Treasury operating cash. A complete, list of the items is shown in table 10 of de Leeuw and Holloway, "Cyclical Adjustment
of the Federal Budget and Federal Debt," p. 39.
Revised estimates based on 6-percent
unemployment rate trend GNP
A variant of the cyclically adjusted
budget is based an a trend GNP series
associated with a constant 6-percent
unemployment rate. Table 6 shows,
for 1970-85, estimates of the 6-percent
unemployment rate variant and the
underlying measures of 6-percent
unemployment rate trend GNP.9 Compared with the revised and updated
estimates of the cyclically adjusted
budget based on middle-expansion
trend GNP, the deficit-to-GNP ratio of
the 6-percent unemployment variant
was higher in the early 1970's, about
the same in 1974-75, then lower in all
subsequent years. The difference has
been about 0.9 percentage point in
recent years. The pattern of the differences followed the pattern of the
differences between the middle-expansion trend unemployment rate and 6.0
percent.
9. The growth rate in constant-dollar 6-percent unemployment rate trend GNP is derived with regression estimates and is 3.4 percent for 1970-74, 3.0 percent for 1974-81, and 2.1 percent for 1981-85.
Table 5.—Actual and Cyclically Adjusted Federal Debt Held by the Public at Par Value
[Billions of dollars, seasonally adjusted]
End of year and
quarter
Actual debt
Cyclically adjusted debt
based on middleexpansion trend GNP
Level
1955: I
II
III
IV
1956: I
II
Ill
IV
1957- I
II
Ill
IV
1958: I
II
Ill
IV
1959: I
II
Ill
IV
I960- I
II
Ill
IV
1961: I
II
Ill
IV
1962: I
II
Ill
IV
1963- I
II
Ill
IV
1964: I
II
Ill
IV
1965: I .
II
Ill
IV ..
.
p
228.0
229.4
230.1
231.0
230.0
227.9
227.4
227.6
229.0
225.9
227.6
226.3
227.1
230.6
229.4
233.0
235.0
237.3
238.6
239.1
238.6
237.9
238.1
238.1
238.3
239.1
244.7
245.2
247.4
248.9
249.4
251.2
252.6
255.0
253.8
254.3
255.9
258.5
260.8
260.7
261.5
263.5
262.7
263.9
228.1
229.7
230.8
232.1
231.3
229.3
228.7
229.0
230.6
227.6
229.3
227.3
226.4
228.0
225.5
228.5
230.2
232.7
233.9
234.3
234.0
233.1
232.8
231.5
230.5
230.1
234.7
234.9
237.0
238.6
239.2
240.8
242.0
244.4
243.6
244.4
246.9
250.3
253.5
254.2
256.3
259.9
261.0
264.8
Preliminary.
1. Includes holdings by the Federal Reserve.
Percentage
of trend
GNP
End of year and
quarter
1966: I
58.3
II
57.6
57.1
III. . .
IV
56.7
1967: I
55.5
II
54.2
III
53.1
IV
52.3
1968: I
51.8
II
50.7
III
50.3
49.4
rv
1969: I
48.6
II
48.5
47.5
Ill
47.5
IV
47.2
1970: I
II
47.1
46.8
Ill
46.5 .
IV
45.6
1971- I
II
45.0
44.4
HI
IV.. ..
43.8
43.3
1972- I
II
42.5
Ill
42.8
IV
42.4
1973: I
42.1
II
41.9
41.5
Ill
rv
41.0
1974: I
40.7
II
40.7
Ill
40.1
rv
39.6
1975:
I
39.5
39.6
II
HI
39.5
rv
39.1
1976- I
38.6
II
38.6
HI
38.1
IV
38.1
Actual debt
Cyclically adjusted debt
based on middleexpansion trend GNP
Level
264.4
267.2
267.0
268.1
269.4
271.0
281.8
285.7
289.5
295.3
281.4
289.0
288.9
284.2
285.6
286.3
288.0
289.6
294.1
298.0
299.2
308.9
315.8
322.7
326.0
328.0
331.5
338.4
345.5
346.8
345.1
346.8
348.4
349.4
353.2
359.1
375.9
400.6
423.1
444.6
465.1
484.0
500.6
513.9
268.6
274.4
277.4
281.6
285.7
290.0
303.8
310.5
317.5
327.0
317.0
328.0
331.8
330.4
334.9
337.7
339.9
341.2
345.5
347.8
348.5
357.0
362.5
367.3
369.3
370.8
374.0
381.7
391.1
394.4
394.3
398.0
400.6
402.3
405.0
407.8
417.7
435.9
452.3
468.3
484.9
500.0
512.4
522.0
Percentage
of trend
GNP
37.8
38.0
37.7
37.5
37.5
37.7
38.8
38.8
38.6
39.0
37.0
37.4
37.0
36.0
35.6
35.1
34.4
33.8
33.6
33.2
32.4
32.3
32.1
31.8
31.3
31.0
30.6
30.6
30.7
30.2
29.4
28.8
28.4
27.7
26.8
26.1
25.9
26.5
26.7
27.0
27.5
27.8
27.9
27.7
End of year and
quarter
Actual debt
Cyclically adjusted debt
based on middleexpansion trend GNP
Level
1977' I
II
III
IV
1978- I
II
III
IV
1979- I
II
III
IV
1980- I
II
III
IV
1981- I
II
III
IV
1982' I
II
III
IV
1983' I
II
III
IV
1984' I
II
III
rv
1985' I
II
III p
IV
527.6
537.2
554.7
570.5
586.8
601.7
614.2
623.8
629.6
638.8
648.1
660.8
674.9
695.2
718.8
739.6
770.2
783.9
798.2
826.6
854.2
880.2
933.5
987.4
1,037.2
1,104.2
1,146.5
1,173.0
1,216.5
1,270.2
1,317.7
1,371.0
1,406.3
1,477.2
1,515.6
1,593.7
533.0
541.4
559.5
575.3
592.3
611.5
628.8
644.5
655.8
669.9
684.6
701.6
720.4
739.5
760.3
779.6
810.7
823.0
835.9
858.4
875.2
888.7
926.2
962.2
995.2
1,048.4
1,079.2
1,097.9
1,139.2
1,193.1
1,241.0
1,294.3
1,330.7
1,402.0
1,441.6
1,520.3
Percentage
of trend
GNP
27.7
27.4
27.8
27.9
28.2
28.2
28.3
28.3
27.9
27.7
27.6
27.6
27.6
27.5
27.5
27.2
27.4
27.2
26.9
27.0
26.9
26.9
27.5
28.1
28.8
29.9
30.3
30.4
31.0
32.0
32.8
33.7
34.2
35.5
36.1
37.6
17
SURVEY OF CURRENT BUSINESS
March 1986
CHARTS
Cyclically Adjusted Federal Receipts, Expenditures, and Debt Held
by the Public at Par Value, Percent of Trend GNP
Percent
—160
Percent
r
60
55
55
50
50
45
45
40
40
35
35
30
30
25
20
$'r^:^^
C^H^^i^iKvSlf^gijg^
t
%>:; ; ^Wj^^w/?;^ ' \ y \ i ' /x~-;Vv v /! - * • v
V>-^S^^^
:'-::^lf^^^£#\
25
20
^:f:^jj^^
;
:
::
15 ^^"l^M'B^li^fli^-liff B^^l f irfSt^ffl "d \' I tit ..r^rt:i .t'ri i4 & f 1-V u 11 'i 1>ii -1' t41.i...i 1 ft t i. i-'i T ll:^, i {^ ri ,i.Vi
1955
57
59
61
63
65
67
69
71
73
75
77
l il.tV'f
79
15
81
85
83
NOTE.—Cyclical adjustment based on middle-expansion trend GNP.
U.S. Department of Commerce, Bureau of Economic Analysis
Table 6.—Cyclically Adjusted Federal Receipts and Expenditures Based on 6-Percent Unemployment Rate Trend GNP
[Billions of dollars; quarters at seasonally adjusted annual rates]
Receipts
Year and
quarter
Level
Expenditures
Percentage of 6percent
unemployment
rate
trend
GNP
Level
Percentage of 6percent
unemployment
rate
trend
GNP
Sur plus or
defi cit ( >
Percentage of 6percent
unemLevel ployment
rate
trend
GNP
6-percent
unemployment
rate trend GNP
Current
dollars
1982
dollars
1970
1971 ..
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985 P.
193.1
202.3
227.2
252.4
296.0
315.1
355.2
392.0
436.7
501.6
572.5
667.0
703.9
722.0
750.0
808.4
19.1
18.3
19.0
19.2
19.9
18.8
19.3
19.4
19.6
20.1
20.4
21.2
20.5
19.9
19.4
19.8
209.0
224.9
249.6
270.3
306.4
358.0
388.7
426.7
470.1
521.1
609.9
694.9
764.6
823.6
892.2
980.4
20.7
20.4
20.9
20.5
20.6
21.3
21.2
21.1
21.1
20.9
21.7
22.1
22.3
22.7
23.1
24.1
-15.9
226
-22.3
-17.9
104
-43.0
33 5
34.7
-33.5
-19.5
-37.4
—27.9
60.7
-101.6
-142.2
-172.0
-1.6
20
-1.9
-1.4
7
-2.6
18
1.7
-1.5
-.8
-1.3
—.9
1.8
-2.8
-3.7
-4.2
1,009.1
1,102.8
1,193.9
1,316.8
1,484.0
1,679.1
1,837.1
2,018.8
2,230.6
2,499.1
2,806.2
3,150.1
3,425.8
3,628.9
3,861.4
4,074.9
2,400.9
2,483.4
2,568.7
2,657.0
2,747.4
2,830.9
2,914.4
3,000.4
3,088.9
3,180.0
3,273.7
3,353.4
3,424.7
3,497.5
3,571.9
3,647.9
1970:1
II
III
IV
1971: I
II
III
IV
1972- I
II
Ill
190.9
195.2
191.1
195.2
195.5
200.3
202.8
210.5
226.3
224.3
227.0
231.3
242.8
248.0
254.8
264.1
276.2
288.0
308.5
311.3
316.9
281.8
327.3
334.4
342.3
351.3
360.5
366.7
19.5
19.5
18.8
18.8
18.4
18.3
18.2
18.5
19.5
19.0
18.8
18.8
19.3
19.1
19.1
19.2
19.6
19.9
20.4
19.9
19.6
17.0
19.2
19.2
19.2
19.4
19.4
19.3
198.8
212.1
210.4
214.5
217.4
225.0
226.5
230.5
240.9
250.1
242.9
264.4
266.3
269.7
268.2
277.1
287.1
303.1
312.6
322.7
335.8
354.6
365.8
375.9
377.3
380.6
394.0
402.9
20.3
21.2
20.7
20.7
20.4
20.6
20.3
20.2
20.7
21.2
20.2
21.5
21.1
20.8
20.1
20.1
20.4
20.9
20.7
20.6
20.8
21.5
21.5
21.5
21.2
21.0
21.2
21.2
-7.9
169
-19.4
-19.3
-21.9
247
-23.7
-20.0
-14.6
-25.8
-15.9
-.8
17
-1.9
-1.9
-2.1
23
-2.1
-1.8
-1.3
-2.2
-1.3
235
-21.7
-13.4
19
-1.7
-1.0
i (\
109
g
-1.0
979.1
1,001.7
1,017.4
1,038.2
1,064.2
1,093.0
1,114.7
1,139.2
1,161.6
1,179.1
1,204.6
1,230.4
1,259.2
1,296.3
1,334.1
1,377.6
1,408.3
1,450.3
1,512.4
1,565.1
1,615.7
1,652.9
1,701.8
1,745.8
1,778.6
1,814.8
1,854.4
1,900.4
2,370.6
2,390.7
2,410.9
2,431.4
2,452.0
2,472.8
2,493.8
2,514.9
2,536.3
2,557.8
2,579.5
2,601.3
2,623.4
2,645.6
2,668.1
2,690.7
2,713.5
2,736.5
2,759.8
2,779.9
2,800.1
2,820.6
2,841.1
2,861.9
2,882.7
2,903.7
2,924.9
2,946.3
TV
1973: I
II
Ill
IV
1974- I
II
Ill
IV
1975: I
II
Ill
IV
1976- I
II
III
IV
p
Preliminary.
qq rv
-i q -i
-15.1
-4.1
114
189
-72.9
-38.5
41 6
350
-29'.2
33 5
-36.2
o7
-.7
12
-4.4
-2.3
24
20
-L6
18
-1.9
Receipts
Year and
quarter
1977' I
II
HI
IV
. 1978:1.....
II
Ill
IV
1979: I
II
Ill
IV
1980: I
II
III
IV
1981:1
II
III...
rv
1982:1
II
Ill
IV
1983: I
II
HI
IV
1984:1
II
Ill
IV
1985- I
II.. .
Ill
rvp
Level
384.6
388.6
389.4
405.5
413.5
428.7
444.4
460.1
480.3
495.5
506.5
524.0
540.0
556.0
582.4
611.6
646.1
660.9
678.8
682.1
695.1
704.0
704.2
712.4
713.6
732.5
720.9
720.8
740.0
744.4
748.9
766.7
811.4
777.7
812.6
832.0
Expenditures
Percentage of 6percent
unemployment
rate
trend
GNP
19.8
19.4
19.1
19.4
19.4
19.5
19.7
19.8
20.1
20.1
20.0
20.1
20.2
20.1
20.5
20.8
21.3
21.3
21.3
20.9
20.8
20.7
20.3
20.3
20.1
20.3
19.7
19.4
19.6
19.4
19.3
19.4
20.3
19.2
19.8
20.0
Level
406.3
418.1
435.6
446.9
453.5
460.2
475.7
491.1
497.3
505.1
530.8
551.1
576.0
594.4
622.0
647.0
667.5
677.7
707.1
727.2
732.8
738.3
771.6
815.6
806.5
819.9
826.8
841.1
860.4
879.4
899.2
929.8
947.0
959.0
987.8
1,027.7
Percentage of 6percent
unemployment
rate
trend
GNP
20.9
20.9
21.4
21.4
21.2
20.9
21.0
21.1
20.8
20.5
20.9
21.2
21.5
21.5
21.9
22.0
22.0
21.8
22.2
22.2
22.0
21.7
22.3
23.2
22.7
22.8
22.6
22.7
22.8
22.9
23.1
23.6
23.7
23.7
24.1
24.7
Surplus or
deficit (-)
Level
-21.7
-29.5
461
-41.3
-40.0
-31.5
31.3
-31.0
-17.0
9.6
24.2
-27.1
360
384
-39.6
-35.4
-21.4
-16.8
-28.3
-45.1
-37.7
—34.4
-67.4
-103.3
-92.9
87.4
-105.9
-120.3
-120.3
135.0
-150.4
-163.0
-135.6
181.3
-175.2
-195.7
Percentage of 6percent
unemployment
rate
trend
GNP
-1.1
15
-2.3
-2.0
-1.9
1.4
-1.4
-1.3
-.7
-.4
-1.0
-1.0
-1.3
-1.4
-1.4
-1.2
-.7
-.5
-.9
-1.4
-1.1
-1.0
19
-2.9
-2.6
2.4
-2.9
-3.2
-3.2
3.5
-3.9
-4.1
-3.4
4.5
-4.3
-4.7
6-percent
unemployment
rate trend GNP
Current
dollars
1982
dollars
1,946.8
1,999.9
2,038.6
2,089.8
2,135.7
2,203.5
2,259.9
2,323.2
2,393.6
2,464.9
2,534.0
2,603.9
2,677.9
2,759.4
2,842.0
2,945.5
3,037.5
3,103.7
3,190.6
3,268.4
3,336.5
3,395.1
3,461.1
3,510.4
3,553.2
3,599.9
3,650.5
3,711.9
3,777.6
3,833.1
3,889.2
3,945.7
3,995.5
4,049.3
4,099.9
4,154.7
2,967.7
2,989.4
3,011.2
3,033.1
3,055.3
3,077.5
3,100.0
3,122.6
3,145.4
3,168.3
3,191.4
3,214.7
3,238.1
3,261.7
3,285.5
3,309.5
3,326.9
3,344.5
3,362.1
3,379.9
3,397.7
3,415.6
3,433.6
3,451.7
3,469.9
3,488.3
3,506.7
3,525.1
3,543.7
3,562.4
3,581.2
3,600.1
3,619.1
3,638.2
3,657.4
3,676.7
By JEFFREY H. LOWE
Capital Expenditures by Majority-Owned Foreign Affiliates of
Companies, 1986
MAJORITY-OWNED foreign affiliates of U.S. companies plan to increase capital expenditures 9 percent
in 1986, to $39.8 billion, following a
planned 5-percent increase in 1985
(table land chart 6).l
The latest spending estimate for
1985, based on the BEA survey taken
in December 1985, is significantly
lower than the estimate based on the
survey taken 6 months earlier, which
indicated spending would rise 15 percent (table 2). For 1986, the latest estimate is slightly lower than the earlier
estimate, which indicated spending
would rise 2 percent. However, the
latest estimate of the year-to-year percent increase for 1986 is larger, because it is calculated from the lower
1985 base. The downward adjustment
for 1985 continues a recent pattern in
which spending estimates made near
the end of the year are much lower
than those made 6 months earlier.
The pattern, established during a
period of prolonged sluggish growth
abroad, largely results from the cancellation of some projects and the deferral of others into the following
year. Although planned 1985 spending was adjusted downward in most
NOTE.—Ralph Kozlow and Ellen M. Herr prepared the estimates. Smith W. Allnutt designed
the computer programs for data retrieval and
analysis.
1. Capital expenditures 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.) For affiliates other than those engaged in natural resource exploration and development, capital expenditures include all expenditures that are charged
to capital accounts and that are made to acquire, add
to, or improve property, plant, and equipment. For affiliates engaged in natural resource exploration and
development, capital expenditures also include the full
amount of exploration and development expenditures,
whether capitalized or expensed. Capital expenditures
are on a gross basis; sales and other dispositions of
fixed assets are not netted against them. They 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 necessary data are unavailable.
18
tion raises estimates expressed in dollars of a given amount of foreign currency expenditures. However, the precise effect of dollar depreciation on
spending estimates cannot be measured because, among other things, the
amount of spending actually transacted in dollars, as opposed to the
amount transacted in foreign currencies, is not reported to BEA.
By area, affiliates in developed
countries plan a 12-percent increase
industries, nearly one-half of the total
adjustment was in petroleum, probably attributable to the continuing oil
glut.
The increases currently planned for
both 1985 and 1986 probably reflect
expectations of continued slow economic growth abroad. Depreciation of
the dollar vis-a-vis many foreign currencies, which began early last year,
may account for much of the increases. In general, dollar deprecia-
Table 1.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies,
1981-1986
Billions of dollars
Percent change from preceding year
Actual
expenditures
Actual expenditures
Earlier2
plans
Latest
plans *
1981 1982 1983 1984 » 1985 1986 1985 1986
1982 1983 1984 i 1985 1986 1985 1986
Total
(*)
18
-47
25
13
-5
-6
8
Machinery, except electrical . . . . -4
Electric and electronic equipment
-6
33
-8
Other manufacturing
Trade
-11
Finance (except banking), insurance,
4
and real estate
13
Other industries
-34
-21
18
-10
-16
3
-23
3
25
-23
-7
-4
5
9
15
Earlier2
plans
Latest
plans l
2
43.7
43.8
36.0
34.7
36.5
39.8
39.9
40.9
By industry
Mining
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
5
-4
1
37
7
-9
6
5
9 14
2
2 10 — 1
13 (*) 22
9 21
12
-15 -4 25
25 -3 -5
4 31 31
1
15 26
8
-1 -1
.7
.5
24
19
1.3
3 15.8 19.7 15.5
18
1 19.2 16.8 13.7
16
14 -5 1.4 1.3 1.2
3.0 2.8 2.3
13 14
11 -27
.9
.9
.8
10
5.1 4.9 3.8
14
1.2 1.1 1.2
3 -4
28 (*) 5.2 3.4 2.6
27 -6
2.5 2.3 1.8
1 4.3 3.8 3.5
12
-47
6
18
13
18
4
11
-5
5
(*)
2 16
-1 (*)
4
-1
-4 -6
6
-6
7
5
7
-9
2 -19
21
5
12
9
13
12
14
20
12
4
15
29
15
28
8
12
8
8
11
18
g
24
2
-1
.4
2.9
.4
2.5
,4
2.4
.6
.8
.9
.6
.7
14.1 14.9 15.7 16.6 17.2
14.0 15.3 17.3 16.2 16.5
1.2 1.3 1.3 1.4 1.3
2.6 2.6 3.2 3.0 3.4
.9
.9
.7
.6
1.0
3.2 3.1 3.8 3.7 4.0
1.5 1.4 1.4 1.5 1.5
2.5 3.3 4.3 3.2 3.2
2.1 2.6 2.6 2.6 2.5
3.5 3.5 3.8 3.9 4.0
.2
2.3
.3
2.0
.3
2.1
.2
2.1
.2
2.1
By area
Developed countries
,
Canada
Europe
European Communities (10) 3 v
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:
European
Communities (12) 4
OPEC5
....
_4
—9
-3
4
(*)
-9
-5
-2
3
17
-16
-12
-15
11
-4
-4
-20
-4
-30
-33
2
28
8
3 31.3 30.0 25.3
1 8.1 7.4 6.5
3 20.1 19.5 16.5
4 16.2 15.5 13.7
6 1.9 1.9 1.9
5 3.4 3.1 3.0
8 7.5 7.1 5.7
-4 3.5 3.4 3.2
5 3.9 4.0 2.8
11
.9
.6
.8
1.6
1.5
1.7
1.9
3 11.1 12.5 10.1
5 5.7 5.2 3.3
2
1.6 2.5 1.9
-7
.7
.8
.5
2 3.3 4.1 4.1
9.1
3.7
1.5
.7
3.3
9.5
4.1
1.7
.5
3.1
9.7 10.4 10.7
4.5 4.5 4.7
1.7 1.8 1.9
.6
.6
.5
3.0 3.4 3.5
.7
.4
.4
.3
.4
.4
3.2
2.1
2.1
164
2.1
2.4
16.3
2.4
4
2.2
2.2
13
15
28
13 -20
8 36
54 -23
40
3
23 (*)
4
-10
10
13
-23 16
-10 -24
20 -5
2
8
1
-7
4
15
23
24
6
6
-5 -45
-49
21
40
21
17
1.4
1.3
9
32
-1
(*)
12
2
2.4
3.5
46
25.3 26.6 29.9 29.1 29.8
6.6 7.7 8.4 8.5 8.5
16.4 16.5 18.6 17.8 18.3
13.6 14.2 15.9 15.2 15.8
1.8 1.7 1.9 1.9 2.0
2.8 2.9 3.5 3.0 3.1
6.1 6.4 7.2 6.7 7.3
3.0 3.2 3.3 3.5 3.4
2.9 2.3 2.7 2.6 2.5
.9 1.0
.8
.8 1.0
1.9
1.9
* Less than 0.5 percent (±).
1. Based on the BEA survey taken in December 1985.
2. Based on the BEA survey taken in June 1985.
3. European Communities (10) comprises Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Luxembourg,
Netherlands, and the United Kingdom.
4. European Communities (12) comprises European Communities (10), Portugal, and Spain.
5. OPEC comprises Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, Venezuela,
and the United Arab Emirates.
NOTE.—Estimates are for majority-owned nonbank foreign affiliates of nonbank U.S. parents.
SURVEY OF CURRENT BUSINESS
March 1986
Table 2.—Revisions to Capital Expenditures
Estimates, 1985-86
[Millions of dollars]
Expenditure
estimates for:
Date of BEA survey:
June 1984 .
December 1984
June 1985
December 1985
1985
1986
43,958
42,537
39,926
36,495
n.a.
n.a.
40,879
39,810
-17.0
-2.6
Percent change
from preceding
year:
1985
1986
1
Addendum:
Total percent change
from first to most
recent estimate
n.a.
n.a.
2.4
9.1
8.7
13.4
15.0
5.1
n.a. Not applicable.
1. Results of the June 1984, December 1984, and June 1985
surveys were published in the September 1984, March 1985,
and September 1985 issues, respectively, of the SURVEY OF
CURRENT BUSINESS. Results of the December 1985 survey are
presented in this article.
CHART 6
Capital Expenditures by
Majority-Owned Foreign Affiliates
of U.S. Companies
(Ratio scale)
Billion $
Billion$
60
50
BY AREA
40
30
20
20
Petroleum
, Manufacturing
Other Industries
Other Developed Countries
-'
\
'. \
International
'
financ;e;'(£xcept Banking),;
Insurance and Reaf Estate
.1
1981
83
85
85
83
» Planned
NOTE. — Estimates are tor nonbank foreign affiliates of nonbank
U.S. parents.
U.S. Department of Commerce, Bureau of Economic Analysis
.1
1981
86-3-6
19
to $4.9 billion, following an 8-percent
increase in 1985. The largest decrease,
in Colombia, partly reflects the sale of
an affiliate's oil-producing properties
to a foreign company. Other sizable
decreases are in the Middle East,
Thailand, and China. Partly offsetting
increases are planned in Indonesia
and in Trinidad-Tobago; in both cases,
spending is for development of offshore energy resources.
Affiliates in "international" plan to
cut spending 46 percent, to $0.2 billion, after a 26-percent increase in
1985. Despite the 1985 increase,
spending by these affiliates has been
low in recent years, mainly reflecting
Petroleum
an oversupply of mobile offshore drillPetroleum affiliates plan to in- ing rigs.
crease spending 5 percent, to $15.7
billion, following a similar increase in Manufacturing
1985. Weak petroleum markets, reManufacturing affiliates plan to instricted cash flow, and the heavy debt
assumed by several U.S. parent com- crease spending 14 percent, to $17.3
panies involved in mergers have billion, in 1986, following a 9-percent
dampened spending, particularly for increase. Large increases—31 perexploration and development. Because cent—are expected in transportation
the data were collected in a survey equipment in both years, following a
conducted in December, they do not slump in spending in 1982-84. The inreflect the sharp drop in oil prices creases partly reflect intensified
that occurred in January and Febru- worldwide competition among auto
ary; when the lower prices are fully manufacturers, which has led to infactored into affiliates' spending vestment in more efficient and techplans, 1986 spending may be revised nologically advanced equipment, in
addition to capacity expansion. Strong
down substantially.
In developed countries, affiliates demand for autos and trucks in North
plan to increase spending 10 percent, America has also contributed to the
to $10.6 billion, following a 4-percent increases. Affiliates in nonelectrical
increase in 1985 (tables' 3-5). Canadi- machinery and in chemicals plan
an affiliates plan an 8-percent in- large increases in 1986 as well—25
crease, to $3.4 billion, after an 18-per- and 22 percent, respectively; however,
cent increase. New tax, royalty, and the increases partly reflect deferrals
pricing policies of the Canadian Gov- of projects from last year. In contrast,
ernment may be encouraging spend- a 21-percent decrease is planned in
ing. The 1986 increase would have primary and fabricated metals, followbeen larger except for the sale of a ing a smaller decrease in 1985. Both
major affiliate's assets to local pur- decreases reflect worldwide oversupchasers late last year. In the North ply and resulting depressed prices. AfSea area, British affiliates plan to filiates in electrical machinery plan
step up spending 13 percent, to $3.6 small decreases in both years; those
billion, following a 4-percent increase; in food and in "other" manufacturing
the 1986 increase may reflect oilfield plan little change in spending this
and gasfield development deferred year after increases in 1985.
from last year. Norwegian affiliates
Spending plans in manufacturing
plan a 19-percent increase, to $1.3 bil- industries for 1986 may be revised up
lion, following a sharp drop in 1985, if the recent steep decline in oil prices
when major pipeline and gas compres- leads to better-than-expected economsion facilities were completed. A ic growth abroad. In particular, the
sharp decline in 1986 spending in the price decline may have a positive
Netherlands reflects completion of a effect on chemical affiliates, because
refinery expansion.
petroleum feedstocks represent a sigIn developing countries, affiliates nificant portion of their production
plan a 1-percent decrease in spending, costs.
in 1986, to $29.9 billion, following a 5percent increase in 1985. In contrast,
affiliates in developing countries plan
a smaller increase in 1986—2 percent,
to $9.7 billion—than in 1985. Affiliates in "international"—those that
have operations spanning more than
one country and that are engaged in
petroleum shipping, other water
transportation, or operating oil and
gas drilling equipment that is moved
from country to country during the
year—plan a steep 40-percent drop in
spending, to $0.3 billion, following a
21-percent increase.
20
SURVEY OF CURRENT BUSINESS
In developed countries, where computer equipment, and in transporspending increases are widespread, af- tation equipment, for introduction of
filiates are planning a 15-percent in- a new auto model. In the United
crease, to $14.3 billion, following a 9- Kingdom, affiliates plan to increase
percent increase in 1985. Canadian af- spending 14 percent, to $2.6 billion,
filiates plan to increase spending 10 doubling last year's increase. The
percent, to $3.7 billion, after a 24-per- 1986 increase is centered in noneleccent increase. By far the largest in- trical machinery.
In developing countries, affiliates
crease is in transportation equipment,
for ongoing capacity expansion and plan to increase spending 9 percent,
integration of parts manufacturing to $3.1 billion, after a 7-percent inand assembly operations. The in- crease. In both years, the strongest increase reflects strong demand for creases are in Mexico, mainly in
autos and trucks in the North Ameri- transportation equipment, and reflect
can market. Chemical affiliates also increased production for the U.S.
plan a sizable increase, and affiliates market. A large 1986 increase is also
in primary and fabricated metals plan planned by Brazilian affiliates. The
increase is widespread by industry,
a sharp decrease.
In Europe, affiliates plan an 18-per- and probably reflects a general imcent increase, to $9.2 billion, following provement in economic conditions.
a much smaller increase in 1985. A
strong increase—23 percent, to $2.9 Other industries
billion—is planned by affiliates in
Mining affiliates plan a 7-percent
Germany. The increase is concentrat- spending increase, to $0.7 billion, foled in nonelectrical machinery, for lowing virtually no change last year.
production of a new generation of Most of the increase is in Australia,
March 1986
for construction of a bauxite smelter,
and in Chile, for copper mining operations. Partly offsetting is a decrease
in Colombia, where a mining affiliate
is nearing completion of a coal transportation system.
Trade affiliates plan an 8-percent
increase, to $3.8 billion, following a 1percent decline. The increase is
spread among several European countries, Canada, and Japan, and probably reflects deferrals from last year.
Spending by affiliates in finance
(except banking), insurance, and real
estate is expected to rise 18 percent in
1986, to $0.3 billion, following a similar increase in 1985; in both years,
the increase is concentrated in the
United Kingdom.
Affiliates in "other industries"—agriculture, construction, public utilities, and other services—plan a small
increase in spending, to $2.1 billion,
following a moderate decline in 1985.
Much of the increase is in Canada for
modernization by a major utility.
21
SURVEY OF CURRENT BUSINESS
March 1986
Table 3.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1984 l
[Millions of dollars]
Manufacturing
Other
industries
14,070
14,048
1,214
2,620
1,003
3,206
1,466
2,488
2,050
3,511
215
2,255
9,247
11,395
973
2,146
723
2,826
910
2,082
1,734
2,842
183
1,444
6,614
53
2,650
2,702
253
507
450
295
143
454
600
420
70
719
16,435
3
6,074
7,619
590
1,440
255
2,247
599
1,475
1,014
1,986
86
668
13,576
482
225
1,779
2,769
37
247
728
38
1,215
6,055
2
1
0
0
1
(*)
(*)
0
0
0
(*)
4,321
42
104
174
272
13
40
83
(*)
508
3,085
7,132
314
36
1,232
2,163
17
170
504
37
551
2,107
539
13
13
52
84
4
9
34
0
80
250
1,366
110
(D)
152
220
7
76
91
(D)
280
410
239
11
(D)
16
90
(*)
3
16
D
( )
24
70
2,166
29
(*)
746
577
(*)
24
208
7
110
465
500
43
(D)
57
179
2
10
41
(D)
15
140
1,367
57
(*)
70
734
1
15
38
0
2
450
954
51
4
139
280
3
32
76
7
40
322
1,432
110
81
285
258
6
31
105
(*)
81
475
75
(*)'
(*)
1
7
(*)
3
(*)
(*)
1
63
613
15
4
88
68
(*)
3
36
(*)
74
325
2,859
102
1,680
46
467
192
272
39
61
1
0
1,753
7
1,610
5
88
17
5
13
9
487
47
27
25
238
95
50
2
3
51
5
0
3
29
6
8
(*)
0
74
6
1
2
50
11
4
(*)
(*)
15
5
0
1
4
2
2
0
1
81
3
5
1
6
63
3
0
(*)
98
15
108
8
(*)
2
96
2
(*)
0
0
59
5
(D)
7
15
7
17
1
(D)
553
44
35
15
125
77
186
23
49
10
(*)
(DD)
( )
1
(*)
3
0
(*)
55
4
(DD)
( )
15
3
29
(*)
(*)
Canada
Europe
Other Europe
Austria
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
Other
Trade
159
25,270
. .
Other
manufacturing
624
34,723
European Communities (10)
Belgium
Denmark
France
Germany
Greece
Ireland. .
Italy
Luxembourg
Netherlands
United Kingdom
Transportation
equipment
Finance
(except
banking),
insurance,
and real
estate
Total
Mining
All countries
Electric
Maand
chinery,
elecexcept
tronic
elecequiptrical
ment
Petroleum
All
industries
Developed countries
Chemi- Primary
Food
and
cals and
and
fabrikindred
allied
cated
products products metals
1
0
0
0
0
(*)0
(D)
9
38
4
17
1
(D)
758
0
75
551
15
100
6
258
138
5
28
120
11
2
1,463
1,107
70
286
103
102
(*)
1
448
392
13
43
523
364
22
137
115
69
4
43
99
72
6
21
13
6
(*)
6
26
14
(*)
12
30
23
1
6
148
120
6
22
91
59
5
28
316
194
31
91
17
17
(*)
(*)
55
38
3
14
9,092
464
4,572
2,653
241
474
279
380
556
407
317
670
32
701
3,664
398
702
1,909
181
377
274
319
108
391
259
395
24
237
2,758
310
1,363
134
587
47
172
119
27
372
(D)
6
65
(°)
0
11
0
1
572
39
115
12
224
30
140
8
4
1,462
241
1,035
8
66
11
4
79
18
137
35
54
1
17
4
1
23
3
269
43
170
1
31
3
1
20
1
261
5
234
2
4
1
(*)
271
98
171
(*)
(*)
0
(*)
14
(*)
61
4
52
1
1
1
(*)
1
(*)
248
30
205
(*)
2
0
(*)
10
(*)
215
25
148
3
11
3
1
24
1
277
20
175
26
6
4
16
26
4
18
(*)
14
(*)
2
1
1
(*)
(*)
56
(D)
18
23
(D)
(*)
(*)
5
(*)
Central America
Mexico
Panama
Other
663
554
24
85
4
(*)
0
4
20
2
4
14
424
388
3
33
36
25
1
10
104
99
1
4
13
13
0
(*)
48
48
0
0
39
29
(*)
10
143
143
0
(*)
42
32
1
9
111
95
9
7
2
1
1
(*)
102
67
8
27
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
Trinidad and Tobago
Other
244
29
8
16
79
111
22
(*)
0
1
0
20
110
8
2
11
74
15
23
2
3
(*)
2
15
8
1
0
(*)
1
6
4
2
0
(*)
(*)
2
(*)
0
0
(*)
0
0
0
0
0
0
0
8
(D)
3
0
0
0
0
0
0
0
2
(D)
(*)
(*)
(*)
(D)
7
1
(*)
1
2
3
3
1
(*)
1
(*)
1
79
16
3
1
1
57
1,482
694
483
125
87
788
32
224
532
19
(D)
1,397
681
475
124
82
716
16
210
490
31
6
4
(*)
3
24
1
4
20
13
(*).
0
0
(*)
13
1
1
11
7
3
2
0
(*)
4
0
2
3
2
1
0
0
2
1
1
'(*)
0
(*)
(*)
(*)0
0
1
(*)1
(*)
4
1
(*)
0
1
2
0
1
1
16
(D)
2
(D)
2
(D)
2
(DD)
( )
1
(*)
0
0
(*)
0
0
3
(*)
(*)
0
(*)
3
0
(*)
2
1
(*)
(*)
17
1
1
0
(*)
16
12
4
(*)
685
133
448
104
(*)
0
501
(*)
407
94
79
73
6
(*)
5
3
2
(*)
7
7
(*)
(*)
0
0
0
0
5
2
3
(*)
61
61
(*)
0
0
0
0
0
1
(*)
1
0
50
37
8
4
3
2
(*)
(*)
52
20
27
5
3,261
432
28
1,182
460
157
193
99
133
366
210
46
0
0
19
D
( )
0
0
0
0
635
33
25
16
148
110
117
48
94
35
9
41
2
0
1
1
25
3
2
2
4
2
83
2
7
3
2
22
14
8
6
14
6
4
1
0
(*)
(*)D
()
1,972
16
3
1,110
293
22
34
5
(*)
317
172
(*)
1
0
0
0
0
54
7
3
2
6
(*)
23
12
1
0
0
384
18
7
4
130
55
69
22
63
15
(*)
16
0
0
0
4
1
6
0
5
(*)
0
53
3
9
6
5
7
1
4
47
2
(*)
208
45
(*)
14
17
14
24
44
37
13
(*)
4
1
0
(*)
0
(*)
3
0
0
0
0
395
338
(*)
24
(D)
11
15
1
2
1
(D)
19
1,889
117
30
27
2
7
7
10
34
59
1
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
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
International .
Memorandum—OPEC 2
(D)
0
(D)
1
(DD)
( )
(*)
0
360
2,145
1
1
1
8
0
(*)
0
0
250
110
* Less than $500,000.
D
Suppressed to avoid disclosure of data of individual companies.
1. Based on the BEA survey taken in June 1985.
2. See footnote 5, table 1.
NOTE.—Estimates are for majority-owned nonbank foreign affiliates of nonbank U.S. parents.
(*)
60
22
SURVEY OF CURRENT BUSINESS
March 1986
Table 4.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1985 1
[Millions of dollars]
Manufacturing
All
industries Mining
Petroleum
Total
Electric
MaFood
Chemi- Primary
and
and v chinery,
and
cals and
elecfabriexcept
kindred
allied
tronic
cated
elecproducts products metals
equiptrical
ment
Transportation
equipment
Other
manufacturing
Trade
Finance
(except
banking),
insurance,
and real
estate
Other
industries
36,495
629
14,921
15,251
1,336
2,632
915
3,085
1,426
3,265
2,592
3,468
254
1,972
26,604
278
9,653
12,422
1,057
2,150
694
2,734
964
2,657
2,167
2,728
223
1,300
Canada
7,664
60
3,130
3,344
262
471
373
498
165
775
800
390
80
660
Europe
16,489
3
6,002
7,823
656
1,480
303
1,876
665
1,623
1,221
1,965
113
582
14,161
467
259
1,677
2,930
35
190
852
43
1,319
6,388
1
0
0
0
4,720
45
140
277
243
3
28
120
(*)
645
3,220
7,304
309
36
1,046
2,339
24
126
610
42
526
2,245
591
11
20
68
94
5
19
44
0
84
247
1,396
130
6
168
305
14
27
120
(D)
247
(D)
285
11
1
23
102
(*)
4
11
0
32
100
1,799
19
(*)
466
448
(*)•
25
220
4
95
521
558
44
7
72
197
2
15
55
(D)
16
(D)
1,524
38
1
74
866
1
2
41
0
1
501
1,151
56
2
175
327
3
34
118
11
50
376
1,519
100
80
266
249
7
27
95
(*)
93
602
99
(*)
(*)
(*)
16
(*)
2
(*)
(*)
5
75
519
14
4
88
83
(*)
8
28
(*)
50
245
0
0
0
0
(*)0
1,282
8
1,091
28
105
20
7
13
9
520
50
29
31
243
93
67
3
3
65
7
(D)
3
45
3
(D)
(*)
0
84
2
1
2
52
14
11
1
(*)
18
6
0
(*)
5
1
4
0
(*)
77
2
5
2
7
60
2
0
(*)
107
13
(D)
12
35
6
(D)
1
1
99
10
(*)
2
83
4
(*)
0
0
70
10
8
10
17
5
17
1
1
447
33
48
23
73
70
160
4
36
14
(*)
(D)
0
(*)
(*)
8
0
D
( )
63
5
(D)
2
17
4
31
(*)
(D)
0
69
612
15
99
4
330
104
5
54
102
9
4
92
64
8
19
271
200
29
42
21
21
(*)•
(*)
54
41
4
9
AH countries
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
2,327
96
1,178
83
439
188
274
20
49
Japan
796
Australia, New Zealand, and South Africa
Australia.
New Zealand
South Africa
1
(*)
(*)
0
0
0
(*)
1
0
1
99
75
6
19
14
8
(*)
5
30
13
(*)
17
31
28
1
2
253
230
14
10
280
482
221
351
461
608
426
740
32
552
218
371
215
298
92
575
349
519
21
164
1,446
216
1,030
11
41
13
4
114
18
157
42
60
2
10
2
(*)
38
2
272
51
171
2
16
5
1
25
1
198
5
174
3
1
1
(*)
1
13
275
75
197
(*)
(*)
0
(*)
2
(*)
50
1
44
1
1
1
(*)
1
(*)
239
13
218
(*)
0
(*)
8
(*)
256
29
167
3
12
4
2
39
2
352'
37
212
31
13
8
20
30
2
16
(*)
10
2
2
1
1
(*)
(*)
47
6
24
(DD)
( )
(*)
1
5
(*)
18
3
3
12
654
623
2
28
55
41
1
13
93
89
1
4
17
16
0
1
23
23
0
0
39
36
(*)
4
335
335
0
(*)
91
84
1
6
160
145
7
8
3
1
2
(*)
47
16
5
26
14
(D)
0
C5)
0
5
141
15
8
1
105
12
17
2
(*)
(*)
3
11
6
1
0
(*)
1
4
6
2
0
(*)
2
2
(*)
0
0
(*)
0
(*)
0
0
0
0
0
0
4
0
(*)
0
•(*)
4
0
0
0
0
0
0
2
(*)
(*)
(*)
(*)
1
7
1
(*)
1
2
3
3
1
1
1
(*)
(*)
70
(°)
1
(D)
1
52
1,722
852
655
134
63
869
31
204
634
20
(DD)
( )
0
D0
1,621
827
638
132
57
794
14
190
590
36
10
7
(*)
3
25
1
8
17
10
1
0
0
2
1
0
0
1
1
0
0
1
2
1
1
(*)
0
1
0
(*)
1
4
1
1
0
(*)
3
0
1
2
(*)
(*)
(*)
0
0
9
1
1
8
14
6
6
0
(*)'
8
0
5
3
5
1
(*)
0
1
3
0
1
9
23
11
9
(*)
2
12
2
2
8
3
1
0
0
1
2
1
(*)
1
19
(DD)
( )
2
(*)
(D)
12
4
(D)
524
63
323
137
(*)
0
(*)
0
435
(*)
307
128
35
30
4
1
5
4
1
(*)
5
5
(*)
(*)
0
0
0
0
5
2
3
(*)
20
20
(*)
0
0
0
0
0
(*)
(*)
(*)
0
29
21
5
4
3
3
(*)
(*)
22
9
8
5
3,085
396
27
1,233
420
145
211
78
144
194
236
22
0
0
21
(*)
0
0
0
0
(*)
(*)
1,902
19
1
1,170
285
21
27
2
(*)
152
224
641
33
26
14
125
104
125
45
123
34
11
47
3
0
3
1
22
3
8
1
2
5
93
2
10
4
3
29
10
3
9
17
5
5
1
0
3
0
0
0
0
46
4
3
(*)
3
(*)
26
10
(*)
0
0
345
19
4
4
100
40
77
10
75
15
1
33
0
0
0
8
(*)
5
0
20
(*)
0
72
5
9
2
10
12
1
14
18
1
(*)
169
42
(*)
8
9
10
45
27
21
7
(*)
4
1
0
(*)
0
(*)
3
(*)
0
(*)
0
347
300
(*)
19
1
10
11
4
(*)
1
1
22
1,848
152
46
39
1
5
7
8
46
54
1
1,656
1,377
76
202
215
212
(*)
3
452
- 388
10
54
642
516
33
94
123
97
4
22
9,455
351
4,953
2,828
4,125
308
995
2,117
2,988
333
1,387
104
795
44
108
176
42
291
2
14
(DD)
( )
0
8
0
1
836
73
96
13
510
22
75
27
21
Central America
Mexico
Panama
Other
885
788
20
78
4
(*)
0
4
Other Western Hemisphere
Bahamas
...
Bermuda
Netherlands Antilles
Trinidad and Tobago
Other
252
42
11
5
111
83
Developing countries
Latin America
South America
Argentina
Brazil
Chile. . .
Colombia
Ecuador
PeruVenezuela
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 ... .
International
Memorandum —OPEC 2 ...
()
1
(*)
(D)
435
2,115
(*)
1
(*)
(*)
0
0
(*)
120
315
* Less than $500,000.
D
Suppressed to avoid disclosure of data of individual companies.
1. Based on the BEA survey taken in December 1985.
2. See footnote 5, table 1.
NOTE.—Estimates are for majority-owned nonbank foreign affiliates of nonbank U.S. parents.
1
38
23
SURVEY OF CURRENT BUSINESS
March 1986
Table 5.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1986 l
[Millions of dollars]
Manufacturing
All
industries
Mining
Petroleum
Total
Food
and
kindred
products
Chemi- Primary
and
cals and
fabriallied
cated
products metals
Electric
Maand
chinery,
elecexcept
tronic
elecequiptrical
ment
TransOther
portation
manuequipfacturing
ment
Trade
Finance
(except
banking),
insurance,
and real
estate
Other
industries
AH countries
39,810
671
15,681
17,347
1,317
3,218
725
3,841
1,357
4,277
2,613
3,760
299
2,052
Developed countries
29,893
343
10,599
14,250
1,026
2,640
588
3,495
935
3,408
2,158
3,010
263
1,428
Canada
8,391
73
3,390
3,668
241
625
245
505
164
1,168
720
450
74
735
Europe
18,578
6
6,447
9,211
678
1,773
322
2,553
655
1,941
1,289
2,133
151
630
15,893
621
272
1,905
3,514
41
231
880
145
1,100
7,184
1
0
0
0
5,020
36
148
333
279
2
32
123
1
440
3,626
8,600
454
36
1,219
2,879
30
133
636
144
516
2,552
617
16
23
50
105
8
16
44
0
84
271
1,669
190
5
195
359
(D)
28
127
(D)
222
420
301
19
1
25
99
(*)
5
13
0
40
99
2,440
48
(*)
615
720
(*)
29
243
6
100
680
550
53
4
79
198
(D)
16
57
1,203
62
2
172
350
7
33
101
22
56
398
1,568
115
82
261
249
8
26
95
(*)
91
640
138
.(*)
(*)
14
120
1,820
66
1
84
1,048
1
5
51
0
1
564
32
(*)
3
(*)
(*)
7
95
565
15
5
91
75
(*)
38
26
(*)
45
270
1,427
11
1,300
8
50
19
11
16
12
610
42
38
41
290
120
71
3
3
62
4
0
6
41
5
6
(*)
0
103
1
2
6
71
12
10
1
1
21
5
0
1
8
1
7
0
(*)
112
3
7
3
13
84
3
0
(*)
105
11
(D)
11
35
6
24
1
(D)
121
10
(*)
5
101
5
.(*)
0
0
86
9
(D)
9
23
8
22
1
(D)
565
42
78
24
98
80
197
4
43
13
(*)
(D)
0
(*)
(*)
5
0
(D)
65
10
(D)
4
16
5
29
(*)
(D)
European Communities (10)
Belgium
Denmark
France
Germany ..
Greece
Ireland
Italy
Luxembourg
Netherlands
United Kingdom
Other Europe
Austria
Norway
Portugal ....
Spain
Sweden
Switzerland
Turkey
Other
2,685
105
1,429
76
455
224
314
24
58
1
(*)
(*)0
0
0
(*)
4
0
4
0
0
0
0
(*)0
(D)
Japan
1,025
0
177
701
13
129
8
406
87
13
46
135
8
4
Australia New Zealand and South Africa
Australia
New Zealand
..
South Africa
1,900
1,634
95
171
264
263
(*)
1
585
513
15
57
670
566
40
64
94
80
4
10
114
88
8
17
14
11
(*)
3
32
20
1
12
29
25
2
2
285
262
16
8
103
81
10
12
292
218
35
39
30
30
(*)
(*)
59
45
4
10
9,655
328
4,913
3,096
290
578
137
345
422
869
455
750
35
532
197
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
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
International
Memoranda:
OPEC 2
European Communities (12)3
..
..
4,463
287
1,052
2,380
231
432
133
282
106
816
379
524
23
3,044
263
1,527
139
694
65
174
159
23
268
5
4
75
(D)
0
(DD)
( )
817
61
103
17
438
46
128
17
7
1,535
149
1,182
12
63
9
6
101
13
151
39
66
3
12
2
1
27
1
317
51
221
3
23
3
1
14
1
119
3
101
3
2
(*)
(*)
65
1
54
1
2
2
•(*)
4
(*)
338
10
314
(*)
9
249
21
226
(*)
(*)
0
(*)
1
(*)
0
(*)
12
(*)
296
24
200
3
22
2
3
41
2
354
37
202
31
20
9
19
33
2
15
(*)
11
(*)
1
1
2
1
(*)
54
10
24
3
(°)
(*)
(DD)
( )
(*)
1,058
949
23
87
4
(*)
0
4
17
3
5
9
828
786
3
38
75
60
1
14
108
91
2
14
13
13
0
(*)
34
34
0
0
39
38
(*)
1
478
478
0
(*)
81
72
1
8
162
145
8
9
5
1
3
(*)
43
13
4
27
361
59
32
5
182
83
15
(°)
0
(D)
0
5
218
20
12
1
176
10
16
3
(*)
(*)
3
10
5
1
0
(*)
(*)
4
8
2
0
(*)
2
3
(*)
0
0
(*)
0
0
0
0
0
0
0
2
0
(*)
0
(*)
2
0
0
0
0
0
0
2
(*)
(*)
(*)
(*)
1
8
1
(*)
1
2
4
3
(D)
1
(D)
(*)
(*)
100
25
19
1
1
54
1,747
846
710
107
29
900
19
212
669
12
(DD)
( )
0
0
(°)
1
(*)
(D)
1,654
827
700
106
21
826
1
195
631
40
10
5
(*)
4
30
1
8
21
13
1
0
0
1
12
1
1
10
13
4
4
0
(*)
9
0
4
5
0
0
2
1
1
(*)
0
1
0
(*)
(*)
•(*)0
(*)
7
3
(*)
0
3
4
0
1
3
17
5
3
(*)
2
12
2
5
5
4
2
0
0
2
2
1
(*)
20
(DD)
( )
(*)
(*)
(D)
14
5
(D)
488
75
291
122
•(*)0
(*)
0
379
(*)
267
112
42
37
5
1
5
4
1
(*)
29
0
0
(D)
(*)
0
0
0
0
1,829
15
1
1,241
275
26
25
1
(*)
84
161
635
34
42
21
103
85
122
40
142
36
10
42
4
0
4
1
16
3
5
6
3
2
2,957
347
43
1,290
389
136
190
75
163
134
191
(*)D
()
(*)1
10
10
(*)
1
0
0
0
0
6
2
4
(*)
21
21
.(*)
0
0
0
0
0
(*)
(*)
(*)
0
40
28
9
3
4
4
(*)
(*)
23
7
10
6
122
5
18
5
3
36
25
1
8
15
8
3
1
0
55
5
6
1
3
(*)
29
11
(*)
0
0
292
13
7
7
77
27
60
8
77
15
1
53
0
0
0
12
(*)
4
0
38
(*)
0
69
6
11
4
8
. 6
1
16
13
4
(*)
168
47
'(*)
6
10
14
24
34
20
13
(*)
4
2
0
(*)
0
(*)
3
(*)
0
(*)
0
292
251
(')
(D)
(*)
11
16
(*)
(')
(*)
(D)
(*)
1
0
0
(*)
1
(*)
2
0
0
0
0
0
(*)0
0
92
11
1
1,871
5,078
144
8,932
* Less than $500,000.
Suppressed to avoid disclosure of data of individual companies.
1. Based on the BEA survey taken in December 1985.
2. See footnote 5, table 1.
3. See footnote 4, table 1.
NOTE.—Estimates are for majority-owned nonbank foreign affiliates of nonbank U.S. parents.
D
1
3
1
1
0
(*)
2
0
1
1
170
262
2,124
16,424
(*)
1
(*)
34
664
27
1,746
1
310
6
2,456
14
596
12
1,926
49
1,235
63
1,690
2
138
33
585
By CHRISTOPHER L. BACH
U.S. International Transactions,
Fourth Quarter and Year 1985
Fourth Quarter 1985
increased $1.8 billion, or 14 percent,
to $14.4 billion. The average number
J. HE U.S. current-account deficit in- of barrels imported daily increased to
creased to $36.6 billion in the fourth 5.99 million from 5.34 million in the
quarter from $29.3 billion in the third third quarter. The average price per
(revised), largely because of an in- barrel increased to $26.29 from $25.77.
crease in the merchandise trade defi- The increase in average price occit to $39.5 billion from $33.0 billion. curred despite sharp decreases in the
The surplus on service transactions spot market, particularly in Decemdecreased to $7.1 billion from $7.7 bil- ber. The long delivery lead time problion, and unilateral tranfers increased ably was a factor in the price difference.
to $4.2 billion from $4.0 billion.
Merchandise exports increased $0.7
Merchandise trade.—Merchandise billion, or 1 percent, to $53.0 billion.
imports increased $7.2 billion, or 9 Volume increased 2 percent. The inpercent, to a record $92.5 billion. crease was in agricultural exports,
Volume increased 7 percent; prices in- which increased $0.8 billion, or 12
creased 2 percent. The largest in- percent, to $7.3 billion; volume increase was in passenger cars from creased 17 percent. The average price
areas other than Canada, up $1.5 bil- of corn decreased 8 percent, to the
lion, or 24 percent. Other increases lowest level since the fourth quarter
were in machinery, up $1.3 billion, or of 1982; soybeans, 6 percent, to the
9 percent; consumer goods, up $1.1 lowest level since the second quarter
billion, or 6 percent; and automotive of 1976; and wheat, 1 percent, to the
products from Canada and foods, each lowest level since the fourth quarter
up $0.4 billion, or 7 percent and 8 per- of 1978. Nonagricultural exports, at
cent, respectively. Petroleum imports $45.6 billion, were unchanged both in
value and volume. Decreases in automotive exports to Canada and in civilian aircraft were about offset by an
increase in nonagricultural industrial
supplies and materials.
Service transactions.—Net service
receipts decreased to $7.1 billion from
$7.7 billion. Among major components, receipts of income on U.S.
direct investment abroad were unchanged at $11.0 billion; an increase
in reinvested earnings was partly
offset by a decrease in distributed
earnings. Payments of income on foreign direct investment in the United
States were $1.8 billion, down from
$2.1 billion, as operating losses by a
few companies reduced earnings. Receipts of income on other private investment were unchanged at $12.2 billion. Changes in outstanding claims
and interest rates were offsetting.
Payments of income on other private
investment increased to $9.1 billion
from $8.7 billion, reflecting a large increase in outstanding liabilities.
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 ( )
Line
1 Exports of goods and services (1)
2
Merchandise, excluding military (2)
3
Other goods and services (3— 13)
1984
1985"
Change:
1984-1985
1984
1985
I
II
III
IV
lr
II r
III r
IVP
Change:
1985 IIIIV
362,021
219,916
142,105
359,702
213,990
145,712
-2,319
-5,926
3,607
90,480
53,469
37,011
88,874
54,556
34,318
91,244
55,649
35,595
91,426
56,242
35,184
88,410
55,198
33,212
89,274
53,530
35,744
90,767
52,276
38,491
91,250
52,986
38,264
483
710
-227
-457,965
-334,023
-123,942
-462,581
-338,279
-124,302
4 616
-4,256
-360
106 385
-78,091
-28,294
115 112
-84,181
-30,931
117 337
-84,626
-32,711
119 136
-87,127
-32,009
-109,421
-78,563
-30,858
113 472
-82,017
-31,455
-116,071
-85,231
-30,840
-123,620
-92,468
-31,152
-7,549
-7,237
-312
7 U.S. Government grants (excluding military
grants of goods and services) (30).
8 Remittances, pensions, and other transfers
(31, 32).
-8,522
-11,246
-2,724
-1,480
-1,522
-2,207
-3,313
-2,238
-2,585
-3,130
-3,293
-2,892
-3,538
-647
-732
-710
-669
-782
-934
-843
-866
-896
9 U.S. assets abroad, net (increase/capital
outflow (-)) (33).
U S official reserve assets net (34)
U.S. Government assets, other than official
reserve assets, net (39).
12
U S private assets net (43)
-20,447
-38,183
-17,736
-4,976
-18,988
18,364
-14,846
-462
-2,551
-12,748
-22,421
-9,673
3 131
-5,516
3858
-2,628
-727
2,888
-657
-2,059
-566
-1,353
-799
-1,369
-1,110
-734
233
-850
356
-853
121
-392
3148
-532
-3,027
-140
-6,507
4 Imports of goods and services (15)
5
Merchandise, excluding military (16)..
6
Other goods and services (17—27)
10
11
13 Foreign assets in the United States,net
(increase/ capital inflow (+)) (48).
14
Foreign official assets, net (49)
15
Other" foreign assets, net (56)
16 Allocations of special drawing rights (62)
17 Statistical discrepancy (63)
r
p
Revised.
Preliminary.
-163
-30
11 800
-31,697
19897
-2,260
17 070
20,532
-13,003
621
12235
18742
97,319
123,108
25,790
19,277
41,592
3,140
33,310
13,711
26,313
34,548
48,536
13,989
3,424
93,895
-1,908
125,016
-5,332
31,122
-2,786
22,063
-224
41,816
-686
3,825
7,119
26,191
-11,204
24,915
8,465
17,849
2,435
32,113
-1,604
50,140
-4,039
18,027
30,486
32,739
2,253
3,816
5,866
7,466
13,341
10,934
3,863
7,500
10,444
2,944
1 342
SURVEY OF CURRENT BUSINESS
March 1986
25
Table B.—Selected Transactions With Official Agencies
[Millions of dollars]
T ino
1
2
3
4
Changes in foreign official assets in the U.S., net (decrease — Xtable 1,
line 49).
Industrial countries2 1
Members of OPEC
Other countries
5 Changes in U.S. official reserve assets (increase — ) (table 1, line 34)
I
II
Change:
1985
1984
Change:
1984-85
I
1 Qftf^
II
III
7,119 -11,204
III
IV
IV P
III-IV
3,424
-1,908
-5,332
-2,786
-224
-686
8,465
2,435
-1,604
-4,039
376
4143
7 191
953
6750
3889
577
2607
3302
846
2405
465
1003
2097
870
-2,528
453
2295
2,747
812
3560
-6,335
2021
-2,848
6,832
1,808
3,441
2,827
1961
1,569
-2,371
-960
1,727
5,198
1,001
158
-3,131
-3,858
-727
-657
-566
-799
-1,110
-233
-356
-121
-3,148
-3,027
490
545
-55
-500
143
-643
-990
402
-588
-10
500
545
45
-500
143
143
-143
143
143
143
Activity under U.S. official reciprocal
currency arrangements with
foreign monetary authorities:3
6
6a
6h
Foreign drawings, or repayments (— ), net
Drawings
Repayments
r
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.
p
Foreign visitors spent $2.9 billion
for travel in the United States, up 1
percent. Receipts from overseas visitors increased 4 percent to $1.6 billion, those from Canada were unchanged at $0.8 billion, and those
from Mexico were $0.5 billion, down 7
percent due to a decrease in receipts
from travel to the U.S. interior. U.S.
travelers spent $4.3 billion in foreign
countries, up 2 percent. Payments for
travel to all major areas increased:
Overseas, 1 percent to $2.8 billion, as
an increase in the number of travelers more than offset a decrease in average expenditures; Canada, 4 percent
to $0.7 billion; and Mexico, 2 percent
to $0.9 billion.
Transfers under U.S. military
agency sales contracts decreased $0.3
billion to $2.0 billion, the lowest since
the second quarter of 1980; major delivery programs continued to be completed for many countries. Direct defense expenditures abroad were $2.9
billion, up $0.1 billion.
Other transportation receipts were
$3.7 billion, up 5 percent. Receipts
from ocean freight, ocean port services, and air freight all rose slightly.
Transportation payments were $4.3
billion, up 5 percent. Ocean port services payments increased 5 percent
and air freight payments, 25 percent,
the latter due to combined increases
in both import cargo volume and
freight rates.
Net unilateral transfers were $4.2
billion compared with $4.0 billion.
U.S. Government grants, particularly
to countries in the Middle East, remained strong.
U.S. assets abroad.—U.S.
abroad increased $22.4 billion compared with $12.7 billion. U.S. reserve
-10
3. Consists of transactions of the Federal Reserve System and the U.S. Treasury Department's
Exchange Stabilization Fund.
assets increased $3.1 billion compared
with $0.1 billion. The increase was accounted for by U.S. purchases of
German, Japanese, and British currency in October that were part of coordinated intervention by industrial
countries to foster an orderly appreciation of other currencies against the
dollar.
U.S. claims on foreigners reported
by U.S. banks increased $8.6 billion
compared with $1.5 billion. The outflows were dominated by large interbank outflows at yearend, when it
was advantageous for own foreign offices to borrow from U.S. parents
rather than in the Eurodollar market
to meet temporary yearend needs.
(The outflows were reversed in January.) Japanese banks borrowed heavily when Japanese credit conditions
were tightened in November and December. Also, U.S. bank holding companies transferred funds, some of
which were apparently proceeds of
earlier borrowings in the Euronote
market, to own foreign offices. Partly
offsetting was a reduction in U.S. residents' holdings of Eurodollar certificates of deposits.
Net U.S. purchases of foreign securities decreased to $1.5 billion from
$1.7 billion. Net purchases of foreign
stocks decreased despite continued sizable advances in stock prices. Some
profit taking, especially through sales
of Japanese stocks, probably contributed to the smaller purchases. Purchases of Canadian stocks remained
strong. Foreign bonds newly issued in
the United States were only $1.5 billion, as most activity was centered in
the Eurobond markets. Major borrowers included Sweden, France, Japan,
and New Zealand. In transactions in
outstanding bonds, purchases of British gilt-edge bonds declined to $1.0
billion from $1.6 billion.
Net outflows for U.S. direct investment abroad were $8.7 billion compared with $7.1 billion. In equity capital transactions, some unusually
large capital inflows from the sales of
Canadian and Latin American affiliates by U.S. petroleum companies
that had occurred in the third quarter
were not repeated. In intercompany
debt transactions, outflows from U.S.
parents to pay down outstanding debt
to their finance affiliates in the Netherlands Antilles continued.
Foreign assets in the United
States.—Foreign assets in the United
States increased $48.5 billion compared with $34.5 billion. Foreign official assets in the United States decreased $1.6 billion following a $2.4
billion increase. Monetary authorities
in industrial countries drew down
dollar assets for use in exchange
market intervention. Assets of OPEC
members decreased, and assets of
other countries increased.
U.S. liabilities to private foreigners
and international financial institutions reported by U.S. banks, excluding U.S. Treasury securities, increased $20.5 billion compared with
$6.5 billion. Nearly all of these inflows occurred in December, and most
were from own foreign offices to foreign-owned banks in the United
States to finance a large increase in
credits extended by these agencies
and branches.
Net foreign purchases of U.S.
Treasury securities by private foreigners and international financial institutions remained relatively strong at
26
SURVEY OF CURRENT BUSINESS
$5.7 billion in the face of sharp declines in the dollar and in U.S. longterm interest rates. Foreigners purchased $7.1 billion in bonds and sold
$1.4 billion in short-term securities.
As in previous quarters, most purchases were by investors in Japan,
who acquired $5.2 billion in bonds,
compared with $6.2 billion in the previous quarter. The sharp rise in both
short- and long-term Japanese interest rates in November and December
and yen appreciation may have contributed to the slower pace of Japanese purchases. International and regional organizations, primarily the
World Bank, purchased $3.1 billion in
Treasury bonds. The purchases, occurring mostly in December, were financed partly by sales of $1.0 billion
in short-term Treasury securities and
a $1.0 billion decrease in deposits at
banks in the United States.
Net foreign purchases of U.S. securities other than U.S. Treasury securities were a record $22.4 billion. New
bond issues abroad by U.S. corporations were $12.5 billion; foreigners
purchased $5.9 billion in outstanding
bonds. Net purchases of U.S. stocks
were a record $4.0 billion.
Sharply lower interest rates plus
the ease and speed with which issues
could be placed in the Eurobond markets led to a continuation of substantial debt financing by U.S. corporations, as corporations sought to refinance earlier debt or to assume new
debt. In midsummer, German authorities liberalized regulations governing
foreign placements in the German
market; nearly $1.0 billion was placed
in German marks by U.S. corporations in the fourth quarter.
Net foreign purchases of U.S. stocks
were $4.0 billion. Purchases acceler-
ated in the fourth quarter when the
U.S. stock market rose 12 percent;
purchases in December alone totaled
$2.0 billion. Sharply declining longterm interest rates and lower foreign
currency costs of U.S. stocks also encouraged purchases. Net purchases by
Western Europe were more than
triple those in the third quarter.
Japan was a small net purchaser.
Only Canadian purchases slowed to a
virtual halt, probably influenced by
the decline of the Canadian dollar
against the U.S. dollar.
Net inflows for foreign direct investment in the United States were
$1.5 billion compared with $6.0 billion. The decline was mostly due to a
$4.4 billion shift in intercompany debt
transactions to outflows of $1.5 billion, as several large inflows that occurred in the third quarter were not
repeated.
The statistical discrepancy (errors
and omissions in reported transactions) increased to an unrecorded net
inflow of $10.4 billion from $7.5 billion.
March 1986
System (EMS) currencies and 6 percent against the British pound.
Against the Canadian dollar, the U.S.
dollar appreciated 2 percent. Higher
Canadian interest rates and steppe iup borrowing by Canadian authorities
to finance intervention in exchange
markets limited the depreciation of
the Canadian dollar.
The Year 1985
U.S. dollar in exchange markets
The dollar appreciated nearly 6 percent against European currencies and
5 percent against the Japanese yen in
January and February, aided by a
temporary rise in U.S. interest rates
(table C, chart 7). Limited intervention in exchange markets by U.S.
monetary authorities, and much more
extensive intervention by foreign
monetary authorities, did little to
stem enthusiasm for dollar assets. A
resumption of the decline in U.S. interest rates, (which were already 3
percentage points lower than 6
months earlier), increased concerns
U.S. dollar in exchange markets.— over the lack of strength of the U.S.
Although the dollar fell sharply im- economy and difficulties of certain fimediately after the September 22 nancial institutions, and the substanmeeting of the Group of Five (France, tial amount by which the dollar had
Germany, Japan, United Kingdom, already risen contributed to the subUnited States), it strengthened during sequent depreciation of the dollar
most of October, as commercial and that began in March.
That decline was largest against
investor demand were strong. After
Japanese money market interest the British pound. There were heavy
rates rose nearly 200 basis points in financial flows into sterling-denomiearly November and remained high nated assets that carried interest
through much of December, the dollar rates over 400 basis points higher
began to depreciate sharply against than U.S. rates. The high yields on
the yen. For the quarter, depreciation gilt-edge bonds and other fixed
against the yen was 17 percent, com- income securities also encouraged
pared with a 12-percent depreciation heavy financial flows from EMS curagainst most European Monetary rencies. Consequently, even though
Table C.—Indexes of Foreign Currency Price of the U.S. Dollar
[1977 = 100]
1984
1984
19 85
19 85
Oct.
Nov.
Dec.
157.3 • 154.0
152.7
150.3
151.2
1329
1344
1263
1238
121.6
1274
126.2
1279
125.9
1291
127.8
1287
122.6
1296
121.1
1314
120.7
1634
1799
1251
2145
133.3
1002
89.8
1576
1735
1202
2113
127.9
956
88.4
1600
1760
1221
2149
129.9
989
880
1495
1640
1138
2015
121.4
903
79.9
1462
1609
1116
1980
119.0
887
76.0
1429
1563
1081
193.2
115.2
876
75.5
IV
I
II
III
IV
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Trade-weighted average against 22 OECD currencies r
1559
1627
1632
155.9
1514
1583
1599
166.7
161.6
163 1
1637
1627
156.4
Trade-weighted average against 10 currencies 2
1423
1512
1441
1345
1239
1442
1477
153 1
1528
1446
1449
1427
1362
1242
143.5
1276
1564
1290
138.8
1281
126.6
1299
121.5
1243
147.0
1247
154.7
1276
159.5
1304
154.9
1286
1408
1296
1396
1288
136.1
1718
1906
131 5
2133
140.4
1048
916
1822
2025
1401
228,3
149.9
1147
959
1734
1916
1329
222.4
142.0
1080
93.3
160.3
1765
1225
213.6
130.4
982
88.7
1462
1604
1112
1976
118.5
889
77.1
1739
1933
1336
2157
142.6
1066
92.3
1769
1972
1364
219.9
145.8
1107
94.6
1848
2052
142 1
230.3
152.2
1167
97.0
1848
2050
1419
234.6
151.8
1167
96.0
1736
1920
133 1
2230
142.4
1080
937
1744
1929
1338
2239
142.9
1089
937
1721
1898
1318
2204
140.6
107 1
926
Selected currencies: 3
Canada
United Kingdom
European Monetary System currencies:
Belgium
France
Germany
Italy
Netherlands
Switzerland .
Japan
~——-.^^
. .
1. Australia, Austria, Belgium-Luxembourg, Canada, Denmark, Finland, France, Germany,
Greece, Iceland, Ireland, Japan, 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.
Sept.
2. Belgium, Canada, France, Germany, Italy, Japan, 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.
interest rates in EMS countries fell
less rapidly than in the United States,
EMS currencies appreciated less
against the dollar than did the British
pound. The Japanese yen generally
moved in line with the European currencies in this period, but the fluctuations against the dollar were narrower.
From its peak in March to the realignment of the EMS currencies in
mid-July, the dollar depreciated
nearly 17 percent against the British
pound, 8 percent against the German
mark and other EMS currencies, and
4 percent against the Japanese yen.
Starting in late August, the dollar
began to appreciate, as expectations
of an end to the U.S. interest rate decline prevailed. In the second week of
September, it reached its highest level
since late June.
In late September, the Group of
Five announced that further orderly
appreciation of major currencies
against the dollar would be desirable
Indexes of Foreign Currency Price of the U.S. Dollar (January 1984=100)
120
1
TRADE-WEIGHTED AVERAGES
110
100
90
I-- t
•i:....r
1
-.1..
130
120
110
100
Currencies 'of Selects^ Newly
tedusiriafeed Asian €duntries
90
80
1984
1985
1. Australia, Austria, Belgium-Luxembourg, Canada, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Japan, Netherlands,
New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, and United Kingdom.
Data: U.S. Department of the Treasury. End-of-month rates. Index rebased by BEA.
2. Belgium, Canada, France, Germany, Italy, Japan, Netherlands, Sweden, Switzerland, and United Kingdom.
Data: Federal Reserve Board. Monthly average rates. Index rebased by BEA.
3. Trade-weighted index for currencies of selected newly industralized Asian Countries (Hong Kong, Korea, Singapore, and Taiwan).
Data: Federal Reserve Board. Monthly average rates. Index weighted by shares in U.S. import trade in 1984.
Index prepared by BEA.
U.S. Department of Commerce, Bureau of Economic Analysis.
27
SURVEY OF CURRENT BUSINESS
March 1986
in view of recent shifts in fundamental economic conditions. These shifts
included more moderate growth in
the United States, somewhat stronger
growth in other countries, and convergence of inflation rates at a lower
level. The announcement, together
with subsequent coordinated intervention in exchange markets, contributed
to a substantial depreciation of the
dollar through yearend.
For the year, the dollar depreciated
21-24 percent against most Western
European currencies and the Japanese yen.
?
The U.S. dollar appreciated 6 percent against the Canadian dollar in
1985. At times, particularly in late
February and early March and then
again in late November, Canadian authorities permitted interest rates to
rise substantially above U.S. rates to
stem the decline of the Canadian
dollar. In addition, substantial exchange market intervention—supported by borrowings from Canadian charter banks, U.S. and foreign banks,
and the Eurobond and U.S. bond markets—limited depreciation.
The dollar appreciated against currencies of most debt-burdened developing countries, which were subject to
very high rates of inflation and numerous currency devaluations. The
dollar depreciated only slightly
against currencies of several newly
industrialized countries in Asia.
Merchandise trade
The U.S. merchandise trade deficit
increased to $124.3 billion in 1985
from $114.1 billion in 1984 (tables D,
E). Imports increased $4.3 billion to
$338.3 billion; volume increased 4 percent. An increase in nonpetroleum
imports to $287.9 billion from $276.5
billion more than offset a decrease in
petroleum imports to $50.4 billion
from $57.5 billion. The 4-percent increase in the value of nonpetroleum
imports followed increases of 29 percent in 1984 and 15 percent in 1983.
Exports decreased $5.9 billion to
$214.0 billion; volume increased 1 percent. Nonagricultural exports increased to $184.8 billion from $181.6
billion and agricultural exports decreased to $29.2 billion from $38.3 billion. The 2-percent increase in the
value of nonagricultural exports followed a 10-percent increase in 1984.
The cumulative impact of earlier
dollar appreciation continued to exert
28
SURVEY OF CURRENT BUSINESS
March 1986
Table D.—Selected Balances on U.S. International Transactions
Comparative Cost Indexes
of Manufactured Goods
[Billions of dollars; quarters seasonally adjusted]
19 85
1QOO
lr
Merchandise trade balance
Investment income, net
Direct, net.
... .
Other private, net
U S Government net
II r
III'
1980=100
IV *
220!
—672
1141
1243
234
285
330
—395
25.4
157
22.7
130
19.1
129
20.8
145
24.7
263
14.4
160
2.5
24
4.2
40
5.4
58
3.8
42
8.7
89
3.4
37
8.1
9.2
3.0
41
47
_9
-3.3
-.2
— 1.1
Unilateral transfers net.
-89
114
-148
-32
-34
40
-4.2
Current account balance
460
1074
1177
242
276
293
-366
Other services, net
r
p
~
200 —
-1.0
-1.0
-I on
n
• Foreign Currency Cost
~-;, off U.S: Exports \
Revised.
Preliminary.
160
a major influence on merchandise parently
absorbed higher costs
trade in 1985. Thus, throughout much through reduced profit margins.
of the year, the competitiveness of
There was also some evidence by
U.S. goods in export markets contin- the fourth quarter that the rise in the
ued to deteriorate, especially for the foreign currency cost of U.S. exports
capital goods and industrial supply was slowing or, in some cases, had recategories, as the foreign currency versed. Fourth-quarter prices probcost of U.S. manufactured goods rose ably decreased for many types of elecfaster than producer prices in major trical, industrial, and office machinindustrial countries abroad. In con- ery products. The rise in auto prices
trast, the relative costs of imports and related to the yearend model changeU.S.-produced goods changed little, as over was an exception.
Another major determinant of
the dollar cost of U.S. manufactured
goods imports rose only slightly faster trade patterns in 1985 was relative
growth rates. The U.S. growth rate
than U.S. producer prices (chart 8).
However, there was some evidence slowed, equaling the rate of a weightby the fourth quarter that import ed average of European Communities
costs had begun to rise, particularly countries and falling below that of
from those countries whose currencies key partners such as the United
had appreciated sharply against the Kingdom, Canada, and Germany.
dollar. The price increases were larg- Consequently, although nonagriculest for autos, followed by sizable in- tural export growth remained limited,
creases for metalworking, industrial, nonpetroleum import growth slowed
specialized, and electrical machinery. markedly. The slowdown from the
Prices of scientific instruments and strong increases in 1983 and 1984,
photographic supplies were also up when there was a wide gap in relative
strongly. Until yearend, importers ap- growth rates in favor of the United
, OEGD Producer Prices,
Excluding Onlted States
140
U.S. Producer
Prices
120
Dollar Oost'of U .S, -Frnports3
" r£t
''^'j£r**>^~»'i \ \ \ \t
100
1981
1983
1982
1985
1984
1. Manufactured goods export unit-value index multiplied by tradeweighted exchange rate index of 22 OECD currencies.
2. Weighted by gross domestic product originating in manufacturing at
1980 exchange rates.
3. Manufactured goods import unit-value index.
Data: U.S. Department of the Treasury, trade-weighted exchange rate
index of 22 OECD currencies. Bureau of the Census, export and import
unit-value indexes. OECD, producer prices.
U.S. Department of Commerce, Bureau of Economic Analysis
86-3-8
States, was reflected in all major commodity import categories and in
slower rates of increase, or decreases,
in deficits with all major geographic
areas.
Nonpetroleum imports increased
$11.4 billion, or 4 percent, to $287.9
billion; volume increased 7 percent.
The largest increase was in automotive products from areas other than
Canada, which increased $6.6 billion
Table E.—U.S. Merchandise Trade, Current and Constant (1982) Dollars
[Balance of payments basis, seasonally adjusted, millions of dollars]
Constant (1982) dollars
Current dollars
1983
Exports
Agricultural
Nonagricultural
Foods, feeds, and beverages
Industrial supplies and materials
Capital goods, except automotive
Automotive vehicles, parts, and engines
Consumer goods (nonfood), except automotive......
Imports
.
Petroleum and products
Nonpetroleum products
Foods, feeds, and beverages .
Industrial supplies and materials
Capital goods, except automotive
Automotive vehicles, parts, and engines
Consumer goods (nonfood), except automotive
r
p
Revised.
Preliminary.
1984
1985 P
1985
r
l
II
r
III
r
IV P
1983
1984
1985
1985
p
r
l
II
r
III r
IV P
53,530
7,149
46,381
52,276
6,536
45,740
52,986
7,337
45,649
202,762
35,640
167,122
218,711
35,252
183,459
219,816
30,044
189,772
56,217
8,155
48,062
54,649
7,149
47,500
53,940
6,808
47,132
55,010
7,932
47,078
23,701
60,192
75,226
24,626
13,028
55,198
8,212
46,986
6,617
15,670
19,220
5,946
3,414
5,912
14,648
18,801
6,211
3,276
5,208
14,803
18,656
6,390
3,113
5,964
15,070
18,549
6,078
3,224
30,311
59,822
70,582
18,001
14,070
29,289
63,639
76,788
20,870
13,829
24,823
62,918
79,623
22,471
12,996
6,690
16,167
20,168
5,521
3,421
5,996
15,274
19,832
5,677
3,279
5,488
15,750
19,763
5,778
3,098
6,649
15,727
19,860
5,495
3,198
338,279
50,397
287,882
21,280
113,164
63,584
65,001
65,060
78,563
10,461
68,102
5,357
25,897
15,286
14,343
15,209
82,017
13,047
68,970
85,231
12,536
72,695
5,220
28,453
16,012
16,470
16,696
92,468
14,353
78,115
5,619
30,188
17,490
18,710
17,787
279,498
60,694
218,804
350,212
64,700
285,512
20,983
136,184
68,213
54,685
61,604
364,383
59,699
304,684
21,764
131,871
74,199
60,747
65,276
84,560
12,192
72,368
5,400
29,769
17,816
13,660
15,347
88,370
15,206
73,164
5,198
32,993
17,224
14,630
15,555
92,358
15,214
77,144
5,415
33,511
18,727
15,494
16,746
99,095
17,087
82,008
5,751
35,598
20,432
16,963
17,628
201,712
37,168
164,544
219,916
38,329
181,587
213,990
29,234
184,756
31,627
58,446
68,887
18,656
14,039
31,496
63,634
73,727
22,343
13,912
268,928
54,988
213,940
334,023
57,517
276,506
18,485
109,706
43,064
43,501
46,969
21,375
124,523
61,188
57,188
61,334
5,083
28,627
14,795
15,479
15,368
18,616
117,972
45,562
42,544
47,495
March 1986
or 19 percent. Automotive products
had increased 31 percent in 1984 and
23 percent in 1983. The increase was
mainly due to strong sales of Japanese cars. The number of cars imported from Japan increased 16 percent,
as did the number of Japanese cars
sold. The Japanese share of total cars
sold in the United States increased to
21 percent from 19 percent. In contrast to earlier years, the average
price increased only 2 percent following increases of 10 percent and 8 percent in 1984 and 1983, respectively.
Automotive products from Canada,
which increased $1.8 billion, reflected
continued strength in the number of
domestic (U.S.) units sold.
Consumer goods increased $3.7 billion, or 6 percent, compared with a
31-percent increase in 1984 and an 18percent increase in 1983. Textile imports, which are largely from newly
industrialized countries in Asia, increased only 5 percent following a 38percent increase. The slowing mirrored the pace of the U.S. economy,
although expectations of future limitations on selected categories of these
imports may have also contributed.
Contrary to general developments,
textile imports from Western Europe
remained strong. Imports of radio and
TV equipment and components increased 3 percent following a 53-percent increase. This deceleration also
was in response to the slowing economy and, by yearend, to rising import
costs.
Nonpetroleum industrial supplies,
which had increased 22 percent in
1984 and 9 percent in 1983, decreased
$4.2 billion or 6 percent. Imports of
iron and steel products accounted for
almost one-half the decrease.
Capital goods, which had increased
42 percent in 1984 and 12 percent in
1983, increased $2.4 billion or 4 percent. Civilian aircraft accounted for
much of the increase. Other key capital goods—electrical machinery; business and office equipment (including
computers); and scientific, professional, and service industry equipment—
which had paced strong imports in
1983 and 1984 were only sightly
higher.
Petroleum imports decreased $7.1
billion, or 12 percent, to $50.4 billion,
the lowest level since 1978. The average price per barrel decreased to
$26.37 from $27.95. The average
number of barrels imported daily decreased to 5.24 million from 5.62 mil-
29
SURVEY OF CURRENT BUSINESS
lion. Most of the decline was in imports from OPEC members. U.S. consumption of petroleum was unchanged from 1984, and stocks, excluding those for the Strategic Petroleum Reserve, decreased 7 percent.
Nonagricultural exports increased
$3.2 billion, or 2 percent, to $184.8 billion; volume increased 4 percent. The
largest increases were in completed
civilian aircraft, up $2.6 billion, or 55
percent, and automotive products to
Canada, up $2.0 billion, or 12 percent,
reflecting strength in U.S. auto sales.
After a substantial increase in 1984,
capital goods other than civilian aircraft and parts decreased $1.8 billion,
or 3 percent; key commodities such as
electronic computers and parts, electrical machinery, and broadcasting
and communications equipment were
unchanged or declined. Nonagricultural industrial supplies decreased
$2.4 billion, or 4 percent, partly due
to a decline in metal and raw materials prices in world commodity markets throughout much of the year.
Consumer goods decreased $0.9 billion, or 6 percent.
Agricultural exports decreased $9.1
billion, or 24 percent, to $29.2 billion,
the lowest level since $24.3 billion in
1977. The strong dollar and excess
global production, which led to competition from other suppliers as well
as from local production in traditional
markets, combined to reduce exports.
The largest decrease was in wheat,
down 40 percent, mostly due to reduced shipments to the Soviet Union.
The volume of corn exports decreased
12 percent, and soybeans, 10 percent.
These declines were magnified by further sizable drops in prices in world
agricultural markets. The average
price of soybeans decreased 22 percent; corn, 17 percent; and wheat, 5
percent. These decreases brought the
cumulative price declines to 25 percent for wheat since its peak in late
1983, to 40 percent for corn, and to 48
percent for soybeans.
Most of the increase in the merchandise trade deficit in 1985 was
with Western Europe and Japan
(table F). With Japai^, the deficit increased $6.4 billion to $43.4 billion;
with Western Europe, $6.0 billion to
$21.2 billion. The increases were less
than one-half those in 1984, largely
because of the slower rise in U.S. nonpetroleum imports. With Canada, the
deficit increased $1.0 billion to $17.1
billion. The increase in the deficit
Table F.—U.S. Merchandise Trade Balances by
Area
[Balance of payments basis, millions of dollars]
Total
Canada
Western Europe
United Kingdom
Germany..
Other
Japan
Australia, New
Zealand, and South
Africa
Latin America
Brazil ....
Mexico
Venezuela
Other
Other Western
Hemisphere
OPEC (non-Latin
Asia (non-OPEC)
Hong Kong, Korea,
Singapore,
Taiwan
Other
Eastern Europe
p
1982
1983
1984
—36444
67216
114,107 — 124,289
1985 '
17,127
9320 — 11636 -16,162
-190 -15,188 -21,237
6,801
-2,348 -2,023 -2,217 -3,304
2689 -4,386 -8,653 -10,530
4318
7403
6219
11 838
43390
36971
16989 21056
2,623
-3,394
1362
-3,820
431
1,357
2,216
1,380
1,160
-14,188 -16,416 -15,422
-2578 -5,010 -3,862
-8,149 -6,056 -5,789
-2304 -3,274
3,486
-1,157 -2,076 -2,285
2008 -3008
-2,183
— 140
8695
6 876
6632
10 977
-5,293 -12,845 -22,207 -23,525
-7,335 -12,423 -20,142 -21,367
—422 -2,065
2042
2158
2,073
1,575
1,422
2,683
Preliminary.
with newly industrialized countries in
the Asia also was moderate compared
with the increase in 1984. With these
countries, the deficit increased $1.2
billion to $21.4 billion. That increase
was more than offset by a decrease in
the deficit with other developing
countries, so that the deficit with all
non-OPEC developing countries decreased $3.0 billion to $34.3 billion.
The deficit with OPEC members decreased $1.8 billion to $11.3 billion.
Service transactions
Net service receipts were $21.4 billion compared with $18.2 billion (table
G). Net direct investment income receipts rose to $26.3 billion from $12.9
billion; other portfolio investment
shifted to net payments of $1.6 billion
from net receipts of $6.2 billion. Net
payments on other service transactions increased to $3.3 billion from
$0.9 billion due to higher net travel,
passenger fares, and transportation
payments, and an increase in the deficit on military transactions.
Receipts of income on U.S. direct
investment abroad were $35.3 billion
compared with $23.1 billion. A shift
from capital losses to capital gains resulting from the appreciation of
major currencies against the dollar
more than accounted for the pickup.
Income before capital gains and
losses—that is, operating earningswas slightly lower. Interest payments
SURVEY OF CURRENT BUSINESS
30
March 1986
Preliminary.
1. Consists of goods and services transferred under military sales contracts less imports of goods
and services by U.S. defense agencies.
Other net transportation payments
were $2.0 billion, up from $0.9 billion.
Receipts increased 4 percent to $14.3
billion. All major components were
higher. Payments increased 11 percent to $16.3 billion. Ocean freight
payments increased 14 percent to $8.6
billion; the volume of foreign flag imports, which accounts for 96 percent
of total import volume, rose 25 percent. Air port expenditures payments
increased 11 percent, to $3.0 billion,
on an increase in U.S. airline traffic
overseas.
Net unilateral transfers increased
to $14.8 billion from $11.4 billion.
Most of the step-up was due to additional grants to countries in the
Middle East.
were also unchanged. Receipts of petroleum companies were unchanged
while those of manufacturing and
other companies increased, particularly those in Western Europe and
Japan where currencies appreciated
sharply against the dollar. Receipts of
income on other private investment
were $49.9 billion, down from $59.3
billion. The decline was nearly all due
to lower interest rates. Receipts of
income on U.S. Government assets
abroad were nearly unchanged at $5.3
billion.
Payments of income on foreign
direct investment in the United
States were $9.0 billion compared
with $10.2 billion. A substantial decrease in reinvested earnings more
than accounted for the decline. Payments of income on other private investment were $35.5 billion, down
from $38.5 billion. A sharp increase in
liabilities to foreigners partly offset
the impact of lower interest rates.
Net travel and passenger fare payments increased to $9.8 billion from
$8.1 billion. Foreign visitors spent
$11.7 billion for travel in the United
States, up 2 percent from the previous
year. Travel receipts from overseas
were $6.6 billion, up 4 percent. Overall, there was less than a 1-percent
drop in the number of visitors. The
number of visitors from Oceania, the
Caribbean, and Japan increased, but
the number from Europe dropped 3
percent. Receipts from Canada fell 2
percent to $3.0 billion, mostly due to a
decline in the number of auto travelers making long-term visits. Receipts
from Mexico increased 5 percent to
$2.0 billion. The number of Mexican
U.S. assets abroad
U.S. assets abroad increased $38.2
billion in 1985 compared with $20.4
billion in 1984.
U.S. official reserve assets increased
$3.9 billion compared with a $3.1 billion increase. Limited acquisitions of
German marks, Japanese yen, and
British pounds occurred in the first
quarter. Substantial acquisitions of
the same currencies occurred in October as part of coordinated market
intervention by industrial countries
following the Group of Five meeting
in late September. The U.S. reserve
position with the International Monetary Fund (IMF) shifted to a $1.0 billion decrease from a $1.0 billion increase, mostly due to a drop in the
amount of dollars obtained from the
IMF by other countries. Holdings of
special drawing rights increased $0.9
billion, nearly the same amount as in
1984.
U.S. claims on foreigners reported
by U.S. banks increased $5.9 billion
compared with $8.5 billion (tables H,
I). As in 1984, economic expansion in
industrial countries abroad was moderate, limiting demand for credit, and
borrowing policies of many developing
countries, particularly those in Latin
America, remained cautious. U.S.
banks remained reluctant to make
major new extensions of credit as supervisory authorities continued to
monitor carefully bank loan exposure
against debt-burdened countries and
to require improved capital-asset
ratios. The continued rise of attractive financing alternatives in the
Eurobond and Euronote markets,
Table G.—U.S. International Service Transactions
[Millions of dollars]
Service transactions, net
Receipts
Payments
Travel and passenger fares, net
Other transportation net
Fees and royalties net
Investment income net
Direct, net
Other private net
U S Government, net
Other private and U.S. Government, net
Contractor operations net
Reinsurance, net
Communications, net
U S Government, net
Other net
1979
1980
1981
1982
32,194
34,429
41,164
36,528
138,860
102 323 118 216 138 674
-70,129 -83,787 -97,510 -102,332
1 778
-2,000
935
2237
-825
172
1 183
58
86
6,360
6,633
5352
34,082
31,172
30,386
25,651
28,511
31,826
11,905
21,629
8173
-8,827 -10,030 -13,198
917
1,488
383
1,591
2,027
1,054
-624
606
-617
—317
—466
143
-1,198 -1,332 -1,366
1599
1,899
1287
1984
30,074
18,163
Change:
1984-85
21,410
3,247
145,712
132,841
142,105
102,767 -123,942 -124,302
3,607
-360
318
162
-1,599
-5,036
6,944
29,495
19,445
24,217
14,167
1,401
2,398
-590
—758
1,705
2,056
7,627
25,402
15,673
22,722
-12,993
1,930
2,189
-365
724
-1,563
2,393
607
1985 P
1983
315
1765
-8,107
-867
7,599
19,109
12,890
20,758
-14,539
2,192
2,360
192
— 1,073
-1,509
2,606
-2,045
-9,780
1,961
8,305
24,684
26,279
14,430
16,025
2,207
2,035
-262
—994
1,402
2,830
-280
-1,673
-1,094
706
5,575
13,389
6,328
-1,486
15
325
-70
79
107
224
p
visitors to the U.S. interior was up 2
percent.
U.S. travel payments totaled $17.0
billion, a 6-percent increase over 1984.
Expenditures overseas increased 9
percent to $10.8 billion; the number of
U.S. travelers also increased 9 percent, despite dollar depreciation. Expenditures in Canada were up 10 percent to $2.6 billion; the number of
travelers increased 4 percent, mostly
in response to appreciation of the U.S.
dollar relative to the Canadian dollar.
Travel payments to Mexico were $3.5
billion, down 2 percent.
Passenger fare receipts from foreign visitors for travel on U.S. flag
carriers were unchanged at $3.0 billion. U.S. payments to foreign transocean carriers totaled $7.4 billion, a 13percent increase that reflected a corresponding increase in the number of
U.S. travelers on foreign flag carriers.
U.S. military transactions with foreigners resulted in net payments of
$2.0 billion, up from $1.8 billion.
Transfers under U.S. military agency
sales contracts were $9.3 billion, a decrease of $0.8 billion, due to declines
in or completion of major delivery
programs. About one-half of the recipient countries had increased deliveries, but the declines among the
others offset the increases by almost a
two-to-one margin. U.S. direct defense
expenditures abroad were $11.3 billion, a decrease of $0.5 billion. In
1985, the second consecutive year in
which expenditures declined, decreases in construction activity and
petroleum procurement were only
partly offset by increased personnel
expenditures.
SURVEY OF CURRENT BUSINESS
March 1986
Table H.™Private Capital Flows, Net
[Billions of dollars]
Claims (increase /capital outflow (—)); liabilities (increase/
capital inflow ( + ))
•I QQO
Private capital flows, net
1985
1 Qfi/l
I
II
III r
IV "
29.7
82 1
93.3
24 5
16 2
201
32 5
194
493
232
85
317
347
59
406
135
j
133
43
41
2
50
15
65
119
86
205
Securities, net
Net U.S. purchases of foreign securities
Net foreign purchases of U.S. securities
U.S. Treasury securities
Other than U.S. Treasury securities
104
70
174
87
86
304
51
354
224
130
638
79
71 6
209
507
96
25
121
26
95
100
22
122
51
71
174
17
191
75
117
267
15
281
57
224
Direct investment, net
U.S. direct investment abroad
Foreign direct investment in the United States
66
54
119
18 0
45
225
28
191
163
28
7
21
14
53
67
10
69
60
61
76
15
66
65
1
106
63
43
na
14
12
27
5
19
13
14
19
5
Bank-reported capital, net *•
U S claims
U.S. liabilities
29 9
Nonbank-reported capital, net
U.S. claims
U.S. liabilities
na
na
na
n.a.
Not available.
r
Revised.
p
Preliminary.
1. Excludes U.S. Treasury securities from liabilitiei
prompted by the removal of withholding taxes on interest payments to foreigners in mid-1984 and the sharp decline in medium- and long-term borrowing rates, was an additional factor
reducing the role of syndicated bank
loans as a major source of credit in
international markets.
Gross interbank activity was large.
Claims on own foreign offices increased $20.1 billion, twice as much
as in 1984. Nearly all the step-up reflected large outflows at yearend
(which subsequently were quickly reversed). In addition, U.S. bank holding companies transferred to foreign
offices several billion in funds that
had apparently been borrowed earlier
in the Euronote markets. Except for
these special factors, there was little
incentive for U.S. banks to fund foreign offices or supply funds to other
foreign banks. The slowdown in interbank activity was more evident in
claims on unaffiliated foreign banks,
which decreased $8.9 billion following
no change in 1984.
Claims on foreign public borrowers
decreased $1.2 billion compared with
a $3.8 billion increase. Most extensions of new credits in 1985 to debtburdened countries were limited to refinancing earlier loans or to providing
funds to bring interest payments on
international debt current.
Claims of banks7 domestic customers, payable in dollars, decreased $1.9
billion following a $2.0 billion decrease. Holdings of Eurodollar certificates of deposits were scaled back,
both in response to the decline in interest rates and to the desire to
reduce portfolio exposure abroad.
Claims payable in foreign currencies
increased $5.0 billion.
U.S. banks continued as net borrowers from the international credit markets in 1985 as the increase in liabilities more than offset the increase in
claims. Net funds raised from abroad
increased to $34.7 billion compared
with $23.2 billion raised in 1984
(chart 9).
Net U.S. purchases of foreign securities rose $2.8 billion to $7.9 billion—
a near record—as U.S. interest in foreign stocks rose with strong market
rallies abroad. New foreign bond
issues in the United States were unchanged.
Net U.S. purchases of foreign stocks
were $4.0 billion compared with $1.1
billion. U.S. residents became net purchasers of foreign stocks in the third
31
and fourth quarters of 1984, when
prices on most key foreign stock exchanges rose. Diversification into foreign stocks continued in 1985, reflecting both a rise in most foreign stock
prices and appreciation of foreign currencies. Purchases of British stocks,
where prices advanced 17 percent,
were $0.7 billion. Purchases of French
and German stocks, where prices advanced 57 and 21 percent, respectively, were $0.6 billion. Purchases of Japanese stocks increased strongly in the
first quarter, but sales throughout
most of the rest of the year resulted
in net purchases of only $0.1 billion
even though the market advanced 17
percent. Purchases of Canadian stocks
were $1.2 billion, compared with net
sales of $0.3 billion, in the face of an
11-percent depreciation of the Canadian dollar against the U.S. dollar.
New bond issues in the United
States, nearly unchanged at $5.6 billion, remained at low levels as the
U.S. market failed to attract much
foreign borrowing. Although some of
the largest and highest rated foreign
borrowers came to the U.S. market,
other foreign borrowers raised funds
abroad, where attractive pricing alternatives and lower interest rates were
offered in the Eurobond market. Canadian borrowers placed $2.2 billion,
up from a low level last year; Western
European issues were $1.5 billion,
down somewhat from last year.
In transactions in outstanding
bonds, U.S. investors continued their
heavy acquisitions of British gilt-edge
bonds, adding $5.3 billion to the $4.7
billion acquired mostly in the last
Table I.—U.S. Bank-Reported Claims and Liabilities by Type
[Billions of dollars]
1985
1983
1984
1985"
I
II
III'
IV P
Claims on foreigners reported by U.S. banks (increase/capital
outflow( ))
.. '..'
-29.9
-8.5
-5.9
Of which' International banking facilities' (IBF) claims
-27.8
-15.1
-8.4
-6.6
-19.1
-2.5
-13.9
-10.1
.1
2.6
-20.1
8.9
8.4
-1.7
2.0
1.8
-5.0
4.1
2.0
3.1
-1.9
3.0
61.5
16.0
5.3
14.0
26.3
-8.7
-.6
8.3
.8
-3.7
1.7
1.4
5.1
2.0
.8
1.1
2.7
7.5
15.0
1.8
-.7
4.5
5.7
Banks' claims for own accounts, in dollars:
Own foreign offices
Unaffiliated banks
Public borrowers and other foreigners . . .
Banks' claims for domestic customers' accounts and all foreign
currency claims
Liabilities to foreigners reported by U.S. banks (including
U.S.
Treasury securities) (increase/capital inflow ( + )) 1
Of which' International banking facilities' (IBF) liabilities
Banks' liabilities for own accounts, in dollars:
Unaffiliated banks
Other private foreigners and international financial institutions
Banks' custody liabilities and all foreign currency liabilities
U S Treasury securities
p
r
Preliminary.
Revised.
1. Excludes liabilities to foreign official agencies.
5.5
58.1
-1.1
54.1
.1
30.7
13.5
8.7
9.7
25.9
10.0
13.3
.1
8.7
5.5
14.6
7.9
3.6
22.4
21.7
4.7
3.9
10.3
20.9
4.1
5.7
1.8
1.8
2.6
4.1
1.5
-8.6
3.4
^.5
-4.7
3.3 -16.7
2.3
.4
5.0
.3
-5.0
.8
32
SURVEY OF CURRENT BUSINESS
half of 1984. High interest rates and
offerings of currency-hedging options
by several major U.S. dealers spurred
purchases from mid-1984 through the
first quarter of 1985. Thereafter, the
British pound's substantial appreciation against the dollar, combined with
continued high interest rates, maintained the attractiveness of these investments. U.S. residents sold $1.5 billion of their holdings of Latin American, Asian, Canadian, and international bonds.
Net outflows for U.S. direct investment abroad were $19.1 billion compared with $4.5 billion. The increase
was due to a rise in reinvested earnings to $22.3 billion from $11.0 billion,
reflecting a substantial boost in
income from exchange rate gains; operating earnings were slightly lower.
Intercompany debt inflows dropped
sharply to $1.9 billion from $7.9 billion, as corporations borrowed directly in the Eurobond market rather
than through their Netherlands Antilles finance affiliates as they had in
the first half of 1984 (table J). Equity
Table J.—Selected Direct Investment Transactions With Netherlands Antilles Finance Affiliates
March 1986
[Millions of dollars]
fPr*>rlitc _!_• ftaVntc
1
Capital
Equity capital
Reinvested earnings
Intercompany debt
3920
1227
1 041
6188
3253
Income
Of which interest
2918
4246
3485
5263
1 165
970
1 025
5248
738
292
284
2463
1 741
745
5000
1 138
capital shifted to a net inflow of $1.3
billion from an outflow of $1.5 billion,
largely the result of sales of Canadian
and Latin American affiliates by U.S.
petroleum companies.
Foreign assets in the United States
Foreign assets in the United States
increased $123.1 billion compared
with $97.3 billion.
Foreign official assets in the United
States decreased $1.9 billion compared with an increase of $3.4 billion,
Private Bank-Reported Capital Flows
V
2
Liablies tef oreigners '
-30 -
-20 -
-10 -
+ 10 -
+ 20 -
+ 30
1984
1. Increase/outflow (-); decrease/inflow ( + ).
2. Increase/inflow ( + ); decrease/outflow (-). Excludes U.S. Treasury securities and liabilities to foreign official agencies.
3. Sum of flow in claims and flow in liabilities.
U.S. Department of Commerce, Bureau of Economic Analysis
2 116
885
295
3296
850
1300
III
IV
I
III r
II
1 310
1 136
327
225
179
281
880
1 347
902
387
152
348
531
1 232
920
960
781
820
819
873
180
294
1 365
1 460
1 206
I
1 270
175
253
1 250
IV P
339
981
1 274
n.a.
Not available.
p
Preliminary.
T
Revised.
NOTE.—Table shows only transactions with affiliates established primarily to borrow funds abroad and relend them to their
U.S. parents.
Billion $
Claims dri Foreigners'1
II
I
9
_40 *-
19 85 "
19 84
1 Q8Q
II III
1985
IV
as inflows from developing countries
slowed by nearly one-half. Dollar
assets of industrial countries increased $0.9 billion, compared with
$0.4 billion. Quarterly fluctuations
were substantial. Decreases occurred
in the first and fourth quarters, when
foreign monetary authorities intervened heavily in exchange markets.
In the first quarter, most decreases
were with European countries; in the
fourth, most decreases were with
countries in the Far East. In the
second and third quarters, most countries took advantage of relatively
calm exchange markets to add to
their dollar holdings.
Dollar assets of OPEC members decreased $6.8 billion compared with
$4.1 billion, as petroleum revenues
continued to decline. Dollar assets of
other countries increased $3.9 billion
compared with $7.2 billion. Most of
the slowdown was with newly industrialized countries in Asia. Dollar
assets of Latin American countries increased about the same amount as a
year earlier, partly reflecting deposits
in the United States of proceeds of
IMF- and commercial bank-sponsored
financial aid packages.
Liabilities to foreigners and international financial institutions reported by U.S. banks, excluding U.S.
Treasury securities, increased $40.6
billion, compared with $31.7 billion.
Liabilities payable in foreign currencies accounted for $7.6 billion of the
1985 increase, compared with $2.3 billion.
In contrast to 1984, most interbank
borrowing was from own foreign offices rather than from unaffiliated
foreign banks, and most borrowing
from foreign offices was by foreignowned banks, especially in the fourth
quarter.
Interbank inflows to U.S.-owned
banks were especially strong in Feb-
SURVEY OF CURRENT BUSINESS
March 1986
ruary and early March when U.S. interest rates rose more rapidly than
foreign rates and a large overnight
Eurodollar interest differential favored offshore borrowing. The inflows
coincided with a spurt in U.S. loan
demand and temporarily tighter conditions in the money markets. With
loan demand essentially flat through
October and with U.S. interest rates
below or only marginally higher than
a weighted average of key foreign
rates, inflows for those months were
limited. Unusually large inflows to
foreign-owned banks in November
and December were mostly to finance
a 12-percent advance in credit ex-
U.S. and Foreign Interest Rates
Percent
14
LONG-TERM
\ U.s; Corporate Aaa Bonds
13
12
11
10
SHORT-TERM1' '
;
'- - : -
- 90-day Eurodollar Deposits
12
11
10
/
>
- Weighted Foreign Average ^1
1984
1985
1. Interest rates for 3-month interbank loans or short-term paper for
other Group of 10 countries and Switzerland weighted by average total
trade shares in 1972-76.
Data: Federal Reserve Board; Morgan Guaranty Trust Company.
U.S. Department of Commerce, Bureau of Economic Analysis
151-498 0 - 86 - 2 : QL3
86-3-10
tended by these agencies and
branches in the United States.
More attractive yields on U.S.
Treasury bonds than on bank certificates of deposit may have shifted
some funds flows to the securities
markets throughout the year. A declining dollar may have slowed deposit inflows somewhat in the last half of
the year (chart 10).
Net foreign purchases of U.S.
Treasury securities by private foreigners and international financial institutions were $20.9 billion, close to last
year's record $22.4 billion, despite a
sharp decline in the dollar exchange
rate and in U.S. long-term interest
rates (chart 11). High yields on U.S.
Treasury bonds relative to most foreign bond rates, expectations of rate
declines and capital gains, and the
July 1984 repeal of the U.S. withholding tax on interest payments to foreigners and related clarification of
registration and certification requirements all contributed to foreigners'
continued attraction to U.S. Treasury
bonds. A third foreign-targeted issue
of $1 billion was offered in June,
bringing to $3 billion the amount offered since October 1984.
Residents of Japan accounted for
$17.5 billion—the largest portion—of
Treasury bond purchases, compared
with $4.5 billion in 1984. Japanese
purchases were mostly by insurance
companies and pension funds, which
had recently been permitted to
expand the share of foreign securities
in their portfolios. Investors sought
the security of Treasury obligations
and liquidity of the U.S. market, as
well as interest rates that averaged
400 basis points higher than comparable Japanese rates. The interest differential apparently more than compensated for the foreign exchange
risk. Also, favorable interpretation of
the Japanese tax code in June 1985
encouraged purchases of zero-coupon
Treasury bonds by permitting taxation of gains on the principal portion
of the bond at capital gains rates. (No
decision has yet been made on the tax
treatment of the interest portion.)
In contrast to strong demand by
Japanese residents, both Canadian
and British residents were net sellers.
Long-term rates in both countries, but
especially in the United Kingdom, remained above those in the United
States. Also, the British pound appreciated significantly against the dollar,
as did a number of other European
33
currencies. These countries had either
net sales or only small increases in
holdings. In 1984, Western European
countries had been major net purchasers of bonds, accounting for about
one-half of total purchases. Purchases
of bonds by Caribbean countries more
than doubled to $3.1 billion.
Mostly reflecting large U.S. corporate bond issues abroad, net foreign
purchases of U.S. securities other
than U.S. Treasury securities increased to a record $50.7 billion, compared with the previous record $13.0
billion in 1984. Foreigners purchased
$46.0 billion in bonds, up from $13.8
billion, and $4.7 billion in stocks, a
shift from net sales of $0.8 billion. In
contrast to much of 1984, most bonds
were placed directly in the Euromarkets or in national credit markets
abroad rather than through finance
affiliates in the Netherlands Antilles.
The total amount raised was $37.6 billion, or nearly one-third of U.S. corporate bond borrowing from all sources
in 1985. In 1984, U.S. corporations
had borrowed $20.3 billion in bond
markets abroad, a major portion of
which financed large-scale mergers.
That total, in turn, was nearly three
times the amount of 1983 borrowing.
Borrowing strength was encouraged
Net Purchases and Sales of U.S.
Securities by Private Foreigners
Billion$
1983
1984
U.S. Department of Commerce, Bureau of Economic Analysis
1985
86-3-11
SURVEY OF CURRENT BUSINESS
34
Table K.—New International Bond Issues by U.S. Borrowers :
[Millions of Dollars]
19 84
Total
19 85
III
IV
I
II
III
IV P
10,683
39,644
1,881
8,622
9,924
5,274 11,311 13,135
By issuer:
Industrial corporations 2
Banking corporations
Nonbank financial institutions
U S federally-sponsored agencies
All other borrowers
4,772
2,640
964
300
2,007
13,756
10446
7,123
2047
6272
452
615
64
4,190
3272
1,568
296
598
2,592
1900
615
750
4,155
2025
900
300
1,242
By instrument:
Straight fixed-rate bonds
Floating-rate notes
Zero-coupon bonds
Bonds convertible into stock
Other debt instruments
6,538
2,615
1,130
22454
11,572
1358
1,203
3,057
1,116
415
250
5,242
2,200
880
100
31,373
2280
5,991
1619
1,857
1089
709
717
By currency:
U.S. dollars
Dual currency *
Foreign currencies
Japanese yen
Swiss franc
German mark
British pound
Other currencies, including ECU4
400
9,882
801
374
255
48
65
59
167
1,880
2129
2201
1073
4028
5,094
3145
2,739
678
1,479
300
5,114
3,025
515
370
900
2,561
1,880
165
318
350
8478
1,550
428
455
400
6,301
5,117
250
60
1,407
1,766
8,001
8,132
115
621
309
199
48
65
1,792
953
620
4,467
119
688
220
130
98
205
35
8,346 10,428
1,690
471
1,275 2,236
166
280
631
476
991
285
204
478
56
59
219
1. Direct placements abroad by U.S. borrowers. Prior to the removal of the withholding tax on interest payments to foreigners
in July 1984, most borrowing was conducted through finance affiliates in the Netherlands Antilles and recorded in the direct
investment abroad accounts.
2.Fortune 500 industrial corporations.
3. Generally, repayment of principal in dollars, with initial issue and interest paid in foreign currency.
4. European Currency Unit.
by the sharp decline in interest rates
and a desire to substitute long-term
borrowing for syndicated bank credits.
Industrial corporations issued $13.8
billion, mostly in straight fixed-rate
bonds, nearly triple the 1984 total
(table K). Among them, petroleum
and auto company issues were particularly large; those of computer and
office machine companies were also
sizable. Banking corporations issued
$10.4 billion, mostly in floating-rate
notes, more than four times the 1984
total. Nonbank financial institutions,
including savings and loan companies
and insurance companies, issued $7.1
billion in mortgage-backed securities—the first in overseas markets.
Currency swap features enhanced
dual-currency issues in the Eurobond
market, as well as foreign currency
issues placed in the Japanese, Swiss,
and German markets.
Net foreign purchases of outstanding U.S. bonds were $8.4 billion, up
from $3.4 billion. (Some of the 1985
transactions may be classified as new
issues, but information necessary for
such identification is not currently
available.) Additional short- and intermediate-term corporate borrowing
took the form of Euronote note issuance facilities and Eurocommercial
paper.
Net foreign purchases of U.S. stocks
were small compared with those of
bonds. Foreigners purchased $4.7 billion compared with net sales of $0.8
billion a year earlier. Although U.S.
March 1986
market performance remained lackluster throughout most of the year
and trailed far behind the rises in key
foreign markets, a four-quarter selloff
ended in the second quarter with a
shift to small net purchases by Western European countries other than
the United Kingdom. By the third
quarter, British residents had become
net purchasers, and by the fourth
quarter, when there was a 12-percent
rise in equity prices, most major areas
contributed to a record quarterly
inflow of $4.0 billion. Inflows and
stock prices were buoyed by declines
in long-term interest rates and some
improvement in prospects for earnings advances. Also by the fourth
quarter, dollar depreciation had significantly reduced the foreign currency costs of U.S. stocks.
Net inflows for foreign direct investment in the United States fell to
$16.3 billion from $22.5 billion. Intercompany debt inflows in 1984 had
been boosted by an unusually large
inflow to acquire the remainder of a
European petroleum company's U.S.
operations. In 1985, intercompany
debt inflows were reduced when a
European parent converted much of
the debt on the books of its U.S. construction affiliate into equity. Equity
inflows decreased to $10.1 billion from
$10.9 billion, as unusually large inflows in two transactions with Canada
and Australia in 1984 were not
matched by comparable size acquisitions in 1985. Reinvested earnings
were $2.0 billion, compared with $3.7
billion.
The statistical discrepancy (errors
and omissions in reported transactions) increased to an unrecorded net
inflow of $32.7 billion from $30.5 billion.
35
SURVEY OF CURRENT BUSINESS
March 1986
Table L.—Selected U.S. Transactions With OPEC Members 1
[Millions of dollars]
(Credits +; debits -)
Exports of goods and services:
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.. ..
U.S. Government miscellaneous services
Receipts of income on U.S. assets abroad:
Direct investment
Other private receipts
U.S. Government receipts .
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
Other private payments
U.S. Government payments
U.S. Government grants
U S Government pensions and other transfers
U S assets abroad net (increase/capital outflow ( ))
U.S. Government assets, other than official reserve assets, net
U S. credits and other long-term assets
Repayments on U S loans
U.S. foreign currency holdings and U.S. short-term assets, net
U.S. private assets net
Direct investment abroad .. ..
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S.
nonbanking concerns
U.S. claims reported by U.S. banks, not included elsewhere
Foreign assets in the United States, net (increase/capital inflow(+))
Of which: foreign official.. ..
U.S. Treasury securities
i.
Other U.S. securities
Other U.S Government liabilities
U.S. liabilities reported by U.S banks not included elsewhere
Direct investment in the United States ..
U.S. liabilities to unaffiliated foreigners reported by U.S.
nonbanking concerns
All other transactions with OPEC and transfers of funds between
foreign areas, net
Memorandum:
Balance on merchandise trade
D
1972
...
1973
1974
1976
1977
1978
1979
1980
1981 r
1982 r
1983 r
1984 r
1985"
2,551
448
125
9
139
5
3,414
657
141
11
146
7
6,219
1,258
181
14
253
7
9,957
1,765
184
20
372
8
11,561
2,865
209
29
590
22
12,877
4,318
201
25
799
18
14,846
4,734
284
31
948
32
14,556
3,077
256
36
606
37
17,368
2,962
>)
47
803
34
21,097
3,655
243
53
926
28
20,651
4,853
182
82
1,021
29
15,256
5,270
218
62
806
44
13,771
2,899
151
53
718
46
11,327
2,917
113
55
692
41
2751
85
76
3928
166
87
6106
330
105
3717
332
118
3498
405
117
3360
489
134
3142
841
135
4,514
1,206
155
2,591
1,517
147
4133
2,187
167
3,588
2,710
174
1,566
2,480
274
2,978
2,618
212
2,344
2,177
220
2974
-105
(*)
(*)
-16
-34
5097
-75
(*)
(*)
-20
-34
17234
-240
(*)
(*)
-20
-34
18897
-141
(*)
(*)
-22
-40
27409
441
(*)
(*)
-31
-60
35778
790
(*)
(*)
-57
-61
33286
1,455
4
(*)
-79
-70
45039
1,580
2
(*)
92
-71
(*)
52
19
(*)
103
-38
-5
451
-276
-11
574
-650
44
2
35
2
46
3
41
3
55602 49934 -31 517 -25,283 -26,852 -22,617
-864
1,489 -1,862 -1,796 -1,974 -1,437
(D)
(DD)
(DD)
(DD)
(DD)
(DD)
(D)
()
()
()
()
()
161
-152
-170
-214
113
104
-114
-118
73
-85
-98
-106
438
6
9
6
49
40
48
-165
-5
-27
-655
-788
1096 -1,646 -2,415 -3,120 -3,384 -2,746 -2,961 -2,366
-816 -1,093 -1,271 -1,382 -2,408 -3,901 -5,821 -5,176 -4,463 -3,774
-26
4
31
4
25
4
-33
15
996
702
5912
4225
1821
1332
4527 —1,672
-214
408
194
(*)
-391
594
205
-2
-211
436
229
-4
-44
256
212
(*)
-261
-467
212
-6
-39
-317
269
9
-107
412
316
-11
782
294
8
1093
1,667
9
6123
4181 -1,560 -1,293 —4420 - 1,493
2
7,121 -3,022
-305
-925 -1,783
5
35
258
18
-164
32
111
-385
158
-425
467
-536
565
362
184
-26
141
574
18
1,026
720
50
-2
281
550
2
11,499
10 455
5473
1 191
133
4098
111
8
145
2512
423
-179
-465
277
9
-43
17
48
7
-47
7
-52
8
290 -3147 -6,359 -3,383
-64
8
-153
-54
-9
1,469
82
-525
586
21
-93
-426
331
2
-5
357
350
2
541 -2,959 -6,400 -3,465
-381
1,073
2,106
-523
-77
-218
130
321
60
-942
324
1,474
259
156
589
-264
98
2,302 -5,698 -3,105
150
408
27
1,032
-251
-353
112
-10
-188
-432
251
-7
41
548
-643 -1,331
371
141
-942 -3,472
-202
-209
241 -1,684
7,924
6937
2426
3,199
944
631
32
10,837
9084
3,206
3,005
2480
1638
6
7,324
338
1074
6369
3,477 -2,602
2,938
1,620
390
139
409
934
111
10
7,047 14,968 14,784
5,498 12,680 13,092
9,566 10,338
2,179
4,688
4,621
1,089
416
1,033
543
5,088 -1,161 -2,054
2,689
240
20
493
756
514
120
136
-296
4881
13575
207
1 135
10383
16505
20087
1683
11 015
8940
15848
22901
18440
30483
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 country information is not available for all accounts; therefore, some accounts are estimated from regional data.
r
1975
41
-195
238
-2
9,909 -7,643 -2,356 -5,448
4,143 -6,750
7,404
8,283
7,346 -6,650 -3,566 -1,893
-382 -1,947 -3,000 ^2,328
-4
2
1,176
578
213
1,043
3,802
4,660
-1
458
677
715
-90 -1,445
-978
1,092 -1,226
3,008
21,033
14,624
5,764
20,181
14,529
13,027
38234
28,837 -10,866
10,027
13,081
11,290
36
SURVEY OF CURRENT BUSINESS
March 1986
Table 1-2.—U.S. International Transactions
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
(Credits +; debits -) 1
Line
1 Exports of goods and services
1984
2
2
3
Merchandise, adjusted, excluding military 3
Transfers under U.S. military agency sales contracts
4
5
6
Travel
Passenger fares
Other transportation
..
7
8
9
10
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners
Other private services
U.S. Government miscellaneous services
11
12
13
Receipts of income on U.S. assets abroad:
Direct investment
Other private receipts .
U.S. Government receipts
. ...
...
14 Transfers of goods and services under U.S military grant programs, net
15 Imports of goods and services
16
17
Merchandise adjusted excluding military 3
Direct defense expenditures
18
19
20
Travel. .
Passenger fares . . . .
Other transportation
21
22
23
24
Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners.
Private payments for other services
U.S. Government payments for miscellaneous services
25
26
27
Payments of income on foreign assets in the United States:
Direct investment
Other private payments
U.S Government payments
28 U.S. military grants of goods and services, net
1985
1985
1985"
lr
II r
III'
IV P
lr
II r
III r
IV"
362,021
359,702
87,992
91,286
88,301
92,124
88,410
89,274
90,767
91,250
219,916
10,086
213,990
9,293
55,113
2,713
55,361
2,193
50,198
2,353
53,318
2,034
55,198
2,713
53,530
2,193
52,276
2,353
52,986
2,034
11,386
3,023
13,799
11,655
2,993
14,342
3,022
656
3,510
2,993
853
3,472
3,225
849
3,640
2,415
635
3,720
3,117
776
3,581
2,851
789
3,450
2,835
685
3,571
2,852
743
3,740
6,530
1,585
7,463
624
6,817
1,695
7,576
885
1,528
415
1,915
218
1,629
423
1,884
230
1,577
427
1,858
272
2,083
430
1,919
166
1,590
415
1,915
244
1,672
423
1,884
212
1,624
427
1,858
242
1,931
430
1,919
187
23,078
59,301
5,230
35,292
49,883
5,281
4,724
12,922
1,256
8,627
12,608
1,014
10,036
12,188
1,677
11,904
12,165
1,334
4,679
12,922
1,260
8,590
12,608
1,072
11,040
12,188
1,668
10,982
12,165
1,281
190
58
10
12
15
22
10
12
15
22
115 830 -117,431 -120,983 -109,421
113,472
116,071
123,620
-457,965 -462,581 -108,338
-334,023 -338,279
11851
11338
-78,808
2925
-83,428
2,779
-85,041
-2,782
-91,002
-2,852
-78,563
-2,925
82017
-2,779
85 231
-2,782
92468
-2,852
16008
6508
-14,666
-17,043
7385
-16,303
3 236
-1,535
-3,849
-4,640
2,441
-4,132
5692
-1,950
-4,162
3475
-1,459
-4,160
4 173
-1,743
-3,947
-4,265
-1,900
-4,015
-4,266
-1,861
-4,076
-4,339
-1,881
-4,265
187
-329
-3,762
-2,133
159
-366
-3,967
2287
-64
-89
988
-515
14
-91
-977
463
62
-93
-993
535
146
-94
1010
14
91
774
-64
-89
988
-598
977
62
-93
993
-586
146
-94
1010
-553
10188
-38,543
-19,769
9013
-35,453
-21,306
-2,295
-8,740
-5,296
2,768
-8,852
-5,272
-2,132
-8,744
-5,369
-1,818
-9,117
-5,369
-2,295
-8,740
-5,296
-2,132
-8,744
-5,369
-1,818
-9,117
5369
-550
-2,768
-8,852
5272
58
10
12
15
22
-10
-12
-15
-22
29 Unilateral transfers (excluding military grants of goods and services), net
30
U.S. Government grants (excluding military grants of goods and services)
31
U.S. Government pensions and other transfers
32
Private remittances and other transfers.
.
-11,413
-14,784
-3,145
-3,436
-3,971
-4,233
-3,172
-3,428
-3,996
-4,189
-8,522
-1,591
-1,300
-11,246
-1,612
-1,926
-2,238
-410
497
-2,585
-390
461
-3,130
-399
442
-3,293
-414
526
-2,238
-410
-524
-2,585
-390
-453
-3,130
-399
-467
-3,293
-414
-482
33 U.S. assets abroad, net (increase/capital outflow ( ))
34
U.S. official reserve assets, net 4
35
Gold
36
Special drawing rights
37
Reserve position in the International Monetary Fund
38
Foreign currencies
-20,447
38 183
-1,579
-2,794
-12,596
-21,214
-462
2,551
12748
22 421
3131
3858
-233
-356
-121
-3,148
-233
-356
-121
-979
-995
-1,156
-897
908
3 869
-264
281
250
-180
72
-248
-264
388
-245
-189
168
-3,126
281
-250
-180
72
-248
-264
388
-245
-189
168
-3,126
U.S. Government assets, other than official reserve assets net
-5,516
U.S. credits and other long-term
assets
9619
Repayments on U.S. loans 5
4,483
U.S. foreign currency holdings and U.S. short-term assets, net
-380
U.S. private assets, net
-11,800
Direct investment
4 503
Foreign securities
-5,059
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns....
6,266
U.S. claims reported by U.S. banks, not included elsewhere
-8,504
-2,628
7219
4,435
156
-937
-1,776
931
-93
834
-2,152
1,045
273
436
-1,726
1,274
17
421
-1,565
1,186
-41
-850
-1,776
1,019
-93
-853
-2,152
1,026
273
-392
-1,726
1,317
17
-532
-1,565
1,074
-41
-31,697
19091
-7,871
n.a.
-5,926
-409
749
-2,494
1,201
135
-1,603
-5,348
-2,214
1,863
4,095
12040
-6,938
-1,708
-1,873
-1,521
17645
-7,555
-1,456
n.a.
-8,635
621
1,779
-2,494
1,201
135
-1,342
-5,086
-2,214
1,863
• 4,095
-12,235
-7,133
1708
-1,873
-1,521
-18,742
-8,651
1456
n.a.
-8,635
97,319
3,424
4,857
4,690
167
453
663
2549
123,108
-1,908
-939
-610
329
148
372
1489
13,711
26,313
34,548
48,536
13,711
26,313
34,548
48,536
-11,204
7526
-7,219
-307
-462
-3,099
-117
8,465
8,858
8,722
136
575
-134
-834
-1,604
2205
-2,023
-182
130
631
160
24,915
2,082
2,633
9,510
-2,655
17,849
6,737
5,106
7,135
-1,324
n.a.
24,915
2,082
2,633
9,510
-2,655
8,465
8,858
8,722
136
575
-134
-834
17,849
6,737
5,106
7,135
-1,324
2,435
-66
-90
24
95
2,974
-378
125,016
16,254
20,910
50,712
n.a.
-1,604
-2,205
-2,023
182
130
631
160
50,140
1,485
5,719
-11,204
-7,526
-7,219
-307
-462
-3,099
-117
93,895
22,514
22,440
12,983
4,284
2,435
66
-90
24
95
2,974
378
32,113
5,951
7,452
11,674
509
32,113
5,951
7,452
11,674
509
50,140
1,485
5,719
22,393
n.a.
31,674
40,610
13,345
195
6,527
20,543
13,345
195
6,527
20,543
30,486
32,739
11,359
4,460
11,150
5,770
10,934
-425
3,863
-597
7,500
-3,650
10,444
4,674
-114,107
124 289
-95,945 -102,880
98836 -106,418
-107,358 -117,664
-23,695
-20,347
-21,254
-23,491
-28,067
-24,544
-25,395
-27,980
34843
-29,130
-29,971
-33,101
-37,684
-28,859
-29,799
-33,093
-23,365
-21,011
-21,945
24183
-28,487
24198
-25,041
27626
-32,955
-25,304
-26,170
29300
-39,482
32370
-33,266
-36,559
-3,858
-2,056
233
-10,742
-356
7,890
121
2,530
-3,148
-1,734
-233
-10,742
-356
7,890
-121
2,530
-3,148
-1,734
39
40
41
42
43
44
45
46
47
48 Foreign assets in the United States, net (increase/capital inflow ( + ))
49
Foreign official assets in the United States, net .
50
U.S. Government securities6
51
U.S. Treasury
securities
52
Other7
53
Other U.S. Government liabilities 8
54
U.S. liabilities reported by U.S.
banks, not included elsewhere
55
Other foreign official assets 9
56
Other foreign assets in the United States net
57
Direct investment
58
U.S. Treasury securities
59
U S. securities other than U S Treasury securities
60
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns.
61
U.S. liabilities reported by U.S. banks, not included elsewhere
-190
99 QQQ
£6,Oao
264
3,148
62 Allocations of special drawing rights
63 Statistical discrepancy (sum of above items with sign reversed)
63a
Of which seasonal adjustment discrepancy
64
65
66
67
Memoranda:
Balance on merchandise trade (lines 2 and 16) 10
Balance on goods and services (lines 1 and 15)
Balance on goods services and remittances (lines
65 31 and 32)
Balance on current account (lines 65 and 29) 10 .
68
69
Transactions in U.S. official reserve assets and in foreign official assets in the
United States:
Increase ( — ) in US official reserve assets net (line 34)
Increase (+) in foreign official assets in the United States (line 49 less line 53) ..
See footnotes on page 54.
3 131
2,971
March 1986
SURVEY OF CURRENT BUSINESS
37
Table 3.—U.S. Merchandise Trade
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
1984
1984
1985"
III
II
A Balance of payment adjustments to Census trade data:
EXPORTS
1 Merchandise exports, Census basis 1 including reexports and
excluding military grant shipments.
2
3
4
5
6
7
Adjustments:
Private gift parcel remittances
Gold exports nonmonetary
Inland U S freight to Canada
U.S.-Canadian reconciliation adjustments n e e net 2
Merchandise exports transferred under U.S. military
agency
sales contracts identified in Census documents 3.
Other adjustments net 4
IV
Ir
II r
1985
1984
1985
III r
IV p
III
II
IV
lr
II r
III r
IV P
218,722 212,360 55,644 53,289 56,626 54,970 54,654 49,859 52,878 54,063 55,249 56,381 55,037 52,851 51,936 52,536
72
54
67
57
38
52
52
73
223
251
38
73
67
54
72
57
94
143
57
131
38
330
38
57
38
190
406
190
131
94
38
143
369
364
383
412
386
368
1,541 1,484
382
394
380
378
358
409
364
353
4,962 5,198 1,353 1,512
813 1,291 1,453 1,230 1,224
813 1,291 1,453 1,230 1,224 1,353 1,512
-5,719 -5,823 -1,276 -1,535 -1,564 -1,498 -1,475 -1,500 -1,350 -1,276 -1,535 -1,564 -1,498 -1,475 -1,500 -1,350
143
114
68
59
31
-206
225
48
47
68
59
31
198
223
49
41
8 Equals: Merchandise exports, adjusted to balance of payments 219,916 213,990 56,155 53,684 56,485 55,113 55,361 50,198 53,318 54,556 55,649 56,242 55,198 53,530 52,276 52,986
basis excluding "military" (table 1, line 2).
IMPORTS
9 Merchandise imports, Census basis l (general imports)
330,514 335,127 84,443 83,287 85,234 77,921 82,598 84,112 90,497 83,362 83,678 86,336 77,677 81,187 84,301 91,962
10
11
12
13
14
15
Adjustments:
Electric energy
Gold imports nonmonetary
Inland freight in Canada
U.S.-Canadian reconciliation adjustment, n.e.c., net 2
Merchandise imports3 of U.S. military agencies identified in
Census documents .
Other adjustments, .net 5
355
141
361
107
-239
236
114
366
200
-203
225
138
362
268
52
392
292
293
344
250
76
381
-328
245
148
363
98
-204
-239
-275
-255
-328
127
168
223
78
400
394
256
127
1,074 1,035
474
559
1,504 1,479
775
-795 -1,097
241
148
363
98
-204
301
141
361
107
-239
260
114
366
200
-203
225
138
362
268
52
392
292
293
344
250
76
381
-239
-275
-255
1,177
169
223
79
401
393
256
478
16 Equals: Merchandise imports, adjusted to balance of payments 334,023 338,279 85,258 84,181 86,049 78,808 83,428 85,041 91,002 84,181 84,626 87,127 78,563 82,017 85,231 92,468
basis, excluding "military" (table 1, line 16).
B Merchandise trade, by area and country,6 adjusted to balance
of payments basis, excluding military:
EXPORTS
1 Total, all countries
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
Western Europe
European Communities (10)
Belgium and Luxembourg
France
Germany, Federal Republic of
Italy
Netherlands
United Kingdom
Other
Western Europe, excluding EC (10)
Canada2
Japan
Australia, New Zealand, and South Africa
Eastern Europe
Latin America and Other Western Hemisphere . . .
Brazil
Mexico
Venezuela
Other
Other countries in Asia and Africa
Asia
Members of OPEC
China
Hong Kong
Korea, Republic of
Singapore
Taiwan
Africa
Members of OPEC
International organizations and unallocated
Memoranda:
Industrial countries6 6
Members of OPEC
Other countries 6
See footnotes on page 54.
219,916 213,990 56,155 53,684 56,485 55,113 55,361 50,198 53,318 54,556 55,649 56,242 55,198 53,530 52,276 52,986
56,866
46,379
5,194
6,055
8,773
4,310
7,486
12,201
2,360
10,487
53,067
23,240
7,849
4,290
29,767
2,744
12,020
3,386
11,616
44,447
39,006
8,419
3,016
3,118
5,887
3,686
4,765
5,526
1,316
390
55,997
45,171
4,836
6,102
8,948
4,480
7,229
11,102
2,475
10,826
54,053
22,146
6,962
3,252
30,441
3,334
13,262
3,023
10,822
40,844
35,192
6,216
3,950
2,753
5,711
3,453
4,232
5,528
1,503
295
14,087
11,602
1,294
1,532
2,184
1,162
1,884
2,961
585
2,485
14,490
5,997
2,059
947
7,265
674
2,884
809
2,899
11,169
9,823
2,110
576
835
1,584
936
1,158
1,386
310
141
13,304
11,038
1,281
1,440
2,095
931
1,589
3,107
595
2,266
12,974
5,686
1,930
925
7,606
782
3,060
830
2,935
11,171
9,611
2,062
829
770
1,462
858
1,163
1,569
299
88
14,771
11,938
1,336
1,529
2,248
1,069
1,976
3,169
611
2,833
12,674
5,976
1,921
1,457
8,045
784
3,272
917
3,071
11,484
10,266
2,056
1,038
864
1,454
1,068
1,346
1,282
358
157
14,920
12,183
1,237
1,588
2,417
1,235
1,786
3,291
630
2,737
13,407
5,838
1,698
1,182
7,529
861
3,329
742
2,598
10,504
9,090
1,630
764
750
1,457
905
1,154
1,387
399
35
14,033 12,606 14,438 13,670 13,781 14,739
11,492 10,087 11,409 11,242 11,408 11,927
1,184 1,149 1,267 1,250 1,328 1,334
1,520 1,347 1,646 1,481 1,480 1,532
2,282 1,951 2,298 2,112 2,163 2,251
967 1,068
953 1,105 1,130
1,188
1,800 1,697 1,947 1,854 1,659 1,958
2,817 2,424 2,570 2,849 3,196 3,176
566
616
609
566
576
703
2,541 2,519 3,029 2,428 2,374 2,812
15,195 12,803 12,648 14,016 13,287 12,725
5,413 5,279 5,616 5,872 5,942 5,904
1,687 1,872 1,705 1,991 1,985 1,925
962 1,010 1,398
350
864
856
7,384 7,505 8,023 7,050 7,889 8,004
810
653
777
751
691 1,031
3,264 3,269 3,401 2,802 3,166 3,263
864
696
788
909
813
772
2,556 2,774 2,894 2,808 3,049 3,056
10,692 9,624 10,024 10,852 11,654 11,401
9,156 8,302 8,644 9,534 10,000 10,214
1,568 1,522 1,496 2,044 2,143 2,044
557
862 1,034
1,050
966 1,170
797
739
611
653
809
863
1,642 1,305 1,308 1,549 1,528 1,442
847
882 1,073
890
812
901
930 1,133 1,130 1,220 1,328
1,015
1,573 1,256 1,312 1,359 1,660 1,252
316
403
327
373
307
350
101
159
143
97
147
14,969
12,236
1,243
1,601
2,429
1,238
1,777
3,318
631
2,731
13,530
5,806
1,709
1,146
7,513
858
3,325
737
2,593
10,491
9,096
1,634
769
752
1,449
914
1,144
1,362
393
35
13,546
11,089
1,138
1,462
2,201
1,148
1,758
2,705
678
2,456
14,652
5,268
1,615
879
7,131
727
3,153
784
2,467
10,340
8,835
1,512
1,010
714
1,599
854
988
1,546
398
101
13,126 14,355
10,497 11,348
1,192 1,263
1,395 1,644
2,029 2,288
995 1,100
1,781 1,913
2,512 2,567
574
592
2,634 3,005
13,188 12,684
5,551 5,522
1,933 1,704
383
845
7,821 7,975
721 1,028
3,391 3,394
686
816
2,894 2,867
10,110 9,903
8,689 8,573
1,588 1,482
999 1,171
640
648
1,375 1,289
874
812
988 1,111
1,343 1,277
346
366
159
141,021 139,157 36,632 33,893 35,343 35,863 36,328 32,560 34,406 35,548 34,996 35,293 36,013 35,081 33,798 34,265
13,771 11,327 3,375 3,337 3,491 2,924 2,913 2,772 2,719 3,281 3,476 3,463 2,916 2,819 2,906 2,687
64,734 63,210 16,007 16,365 17,495 16,292 16,019 14,708 16,192 15,583 17,077 17,340 16,235 15,531 15,409 16,036
38
March 1986
SURVEY OF CURRENT BUSINESS
Table 3.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
1984
1984
1985"
II
B Merchandise trade, by area and country,
adjusted to balance6 of payments basis,
excluding military —Continued:
IMPORTS
35 Total, all countries.. .
36
Western Europe
37
European Communities (10)
38
Belgium and Luxembourg
39
France
40
Germany, Federal Republic of
41
Italy
42
Netherlands
43
United Kingdom
44
Other
45
Western Europe, excluding EC (10)
46
Canada2
47
clapan
48
Australia, New Zealand, and South
Africa.
49
Eastern Europe
50
Latin America and Other Western
Hemisphere.
51
Brazil
52
Mexico
53
Venezuela
54
Other
55
Other countries in Asia and Africa
56
Asia
57
Members of OPEC
58
China
59
Hong Kong . . . .
. .
60
Korea, Republic of
61
Singapore
62
Taiwan
63
Africa
64
Members of OPEC
65
International organizations and
unallocated.
Memoranda:
Industrial countries6 6
Members of OPEC
Other countries 6
66
67
68
BALANCE (EXCESS OF EXPORTS +)
Total, all countries.
Western Europe
European Communities (10)
Belgium and Luxembourg
France
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
Italy ?.'.
.!!
Netherlands .. ..
....
United Kingdom
Other
Western Europe, excluding EC (10)
Canada 2
Japan
Australia, New Zealand, and South
Africa.
Eastern Europe
Latin America and Other Western
Hemisphere.
Brazil
Mexico
Venezuela
Other
Other countries in Asia and Africa
Asia
Members of OPEC
China
Hong Kong
Singapore .
Taiwan
Africa
Members of OPEC
International organizations and
unallocated.
,
,
,
,
III
IV
Ir
1985
1984
1985
II r
III r
IV P
II
III
IV
lr
II r
III r
IV P
334,023
72,054
57,774
3,089
7,957
17,426
8,056
4,126
14,418
2,702
14,280
69,229
60,211
5,633
338,279
77,234
62,387
3,263
8,876
19,478
9,350
4,079
14,406
2,936
14,847
71,180
65,536
5,582
85,258
18,350
14,686
846
2,012
4,275
1,913
1,157
3,789
694
3,664
18,104
15,339
1,396
84,181
17,496
14,034
737
2,068
4,078
2,157
864
3,512
618
3,462
16,204
15,846
1,449
86,049
19,043
15,300
754
2,058
4,714
2,135
1,010
3,834
795
3,743
18,071
16,103
1,442
78,808
17,390
13,915
751
2,006
4,549
2,144
824
2,962
679
3,475
17,353
14,910
1,278
83,428
19,172
15,501
860
2,393
4,646
2,236
1,066
3,632
669
3,671
18,771
15,580
1,368
85,041
19,119
15,527
793
2,056
4,687
2,398
1,060
3,775
759
3,592
16,678
16,930
1,581
91,002
21,553
17,444
858
2,422
5,597
2,573
1,129
4,037
829
4,109
18,378
18,116
1,355
84,181
18,079
14,468
833
1,976
4,196
1,881
1,147
3,753
682
3,611
17,840
15,059
1,373
84,626
17,569
14,094
741
2,075
4,091
2,165
870
3,532
620
3,476
16,324
15,897
1,455
87,127
19,303
15,509
765
2,089
4,782
2,165
1,024
3,879
806
3,794
18,287
16,338
1,460
78,563
17,354
13,886
750
2,005
4,544
2,139
821
2,949
678
3,469
17,324
14,898
1,276
82,017
18,813
15,208
844
2,344
4,547
2,195
1,049
3,577
655
3,603
18,451
15,248
1,343
85,231
19,154
15,555
795
2,060
4,694
2,401
1,062
3,783
760
3,599
16,723
16,957
1,585
92,468
21,913
17,737
874
2,467
5,693
2,615
1,147
4,098
842
4,177
18,683
18,432
1,379
2,217
48,366
1,830
46,003
455
12,174
653
11,845
631
12,214
485
11,306
476
10,994
394
11,486
475
12,217
450
12,116
657
11,925
637
12,340
482
11,217
470
10,878
395
11,523
483
12,384
7,754
18,076
6,660
15,874
76,313
64,423
11,629
3,114
8,355
9,857
3,959
15,429
11,793
6,801
7,196
19,051
6,509
13,248
70,914
60,919
8,417
3,821
7,954
9,970
4,126
15,466
9,880
5,934
1,769
4,567
1,839
3,998
19,440
16,262
2,986
806
1,990
2,583
920
4,024
3,152
1,956
2,128
4,295
1,691
3,731
20,688
17,697
3,146
856
2,495
2,860
1,022
4,338
2,969
1,702
2,195
4,597
1,617
3,804
18,545
15,874
2,796
741
2,168
2,292
1,024
3,724
2,636
1,464
1,793
4,661
1,378
3,474
16,086
14,040
1,536
812
1,847
2,233
1,045
3,611
2,021
1,103
1,749
4,805
1,437
3,003
17,067
14,231
1,945
889
1,699
2,394
993
3,671
2,814
1,742
1,885
4,636
1,723
3,242
18,853
16,394
2,109
1,059
2,273
2,831
1,037
4,311
2,419
1,443
1,769
4,948
1,971
3,529
18,908
16,253
2,827
1,061
2,135
2,513
1,051
3,873
2,627
1,647
1,741
4,545
1,856
3,975
19,264
16,063
3,009
796
1,953
2,539
905
3,953
3,175
1,978
2,134
4,324
1,707
3,759
20,799
17,779
3,175
860
2,503
2,870
1,026
4,354
2,998
1,719
2,223
4,645
1,624
3,848
18,762
16,074
2,810
750
2,199
2,326
1,039
3,780
2,652
1,469
1,790
4,623
1,353
3,451
16,012
13,998
1,511
808
1,844
2,232
1,043
3,609
1,990
1,081
1,718
4,758
1,439
2,964
16,815
13,987
1,941
876
1,663
2,347
975
3,595
2,813
1,746
1,889
4,651
1,730
3,253
18,894
16,427
2,114
1,061
2,276
2,836
1,040
4,319
2,427
1,447
1,799
5,019
1,987
3,579
19,194
16,507
2,851
1,076
2,172
2,556
1,069
3,942
2,650
1,659
207,127
26,852
100,043
219,532
22,617
96,130
53,188
7,234
24,836
50,995
6,940
26,246
54,660
6,340
25,050
50,931
4,396
23,481
54,891
5,476
23,061
54,308
5,781
24,952
59,403
6,964
24,636
52,350
7,296
24,534
51,245
7,005
26,375
55,388
6,370
25,369
50,852
4,320
23,391
53,856
5,476
22,688
54,418
5,800
25,013
60,407
7,022
25,038
114 107 124 289 -29,103 -30,497 -29,564
15188 -21,237 -4,263 -4,192 -4,272
11 395
17 216
3 084
2996 -3,362
2,105
1,574
448
544
582
-1,902 -2,774
-480
-628
-529
2 091
8 653
1 983 2 466
10 530
-3,746 -4,870
-752 -1,226 -1,066
3,360
3,151
727
966
725
-2,217 -3,304
-828
-405
665
342
-462
-109
-23
-184
-3,793 -4,021 -1,179 -1,196
-910
16 162 -17,127 -3,614 -3,230 -5,397
-36,971 -43,390 -9,342 -10,160 -10,127
663
481
479
2,216
1,380
-23,695
-2,470
-1,732
486
-418
2 133
-909
962
329
-49
-738
-3,946
-9,072
420
-28,067
-5,139
4009
324
-872
2 363
-1,048
734
-815
34
-1,130
3 576
10167
319
-34,843
-6,513
5440
356
-708
-2,735
-1,444
637
-1,351
-193
-1,073
3 875
11 651
291
37,684
-7,115
6 035
409
-776
-3,299
-1,469
818
-1,467
253
-1,080
5730
12500
350
29,625
4409
3226
417
-494
-2,084
-750
706
-904
116
-1,183
-3,824
-9,187
618
-28,977
-3,788
-2,686
587
595
-1,928
-1,198
789
337
-5
-1,102
-3,037
-9,955
530
-30,885
-4,564
-3,583
569
-557
-2,531
-1,097
934
703
-197
-981
5561
10,434
465
-23,365
-2,386
-1,650
493
-405
-2,115
-901
956
369
47
-737
3794
-9,092
433
28,487
-5,267
-4,118
294
-882
-2,346
-1,047
709
-871
24
-1,147
-3,799
-9,981
272
-32,955
-6,027
-5,058
397
-665
-2,665
-1,406
720
1,271
-168
-966
-3,535
-11,406
348
-39,482
-7,557
-6,389
389
-823
3405
-1,515
767
-1,530
-269
1 172
5,999
12,910
325
-12
362
409
664
354
761
512
380
-44
389
2,073
492
272
826
697
1,422
-18,599 -15,562 -4,909 -4,239 -4,169 -3,777 -3,610 -3,981 -4,194 -5,066 -4,036 -4,336 -3,704 -3,748 -3,702 -4,409
-5,010 -3,862 -1,096 -1,346 -1,411
-6,056 -5,789 -1,683 -1,236 -1,325
-862
3 274
-700
3 486 -1,031
-4,258 -2,426 -1,099
-796
-733
-31,866
30 070 -8,271 -9,517 -7,061
5608
-25,417 -25,726 -6,439
8085
-3,210 -2,201
-876 -1,084
-741
27
-97
230
297
129
-5,236 -5,201 -1,156 -1,725 -1,305
-3,970 -4,259
1 000 -1,398
838
-164
44
273
673
16
-10,663 -11,234 -2,866 -3,174 -2,379
1400
1353
-6,267 -4,353
1766
-5,485 -4,431 -1,645 -1,403 -1,106
141
88
157
390
295
-932
-1,333
636
-876
-5,582
4950
94
48
-1,097
-775
-140
-2,457
634
-704
35
998
-1,541
-624
447
-6,375
-5,075
-378
162
-960
753
-103
-2,655
-1,241
-1,339
101
-1,194
-1,368
-951
468
-9,229
-8,092
-587
-93
-1,662
1 526
-190
-3,381
-1,163
-1,115
159
737
-1,547
-1,275
634
8884
-7,609
-1,331
108
-1,482
1 205
-239
2741
-1,314
-1,274
-1,088
-1,743
-1,068
-1,168
-8,412
-6,529
-965
-239
-1,145
990
—3
2823
-1,816
-1,671
143
-1,324
-1,159
-843
-711
-9,145
-7,778
-1,032
2
1706
-1,342
-144
-3,133
'-1,338
1,404
97
1,446
-1,383
715
-793
-7,361
-5,860
-765
284
-1,337
-884
34
-2,452
-1,400
1,119
147
-931
-1,298
616
-858
-5,521
4,902
123
-38
-1,092
-783
129
-2,466
-629
-688
35
-991
-1,605
-655
-497
-6,475
5,153
-429
134
-949
-748
121
-2,607
-1,267
-1,349
101
-1,168
-1,261
-914
-359
-8,784
-7,737
527
-61
-1,637
-1,461
-166
3,331
-1,084
-1,102
159
-771
-1,625
-1,301
-712
-9,291
-7,934
1,369
95
1,524
1,267
-257
2,831
-1,372
-1,293
Memoranda:
100
101
102
6
Members of OPEC
Other countries 6
See footnotes on page 54.
66 106 -80,375 -16,557 17 102 19 317 -15,068 18 563 21 748 24 997 16 802 -16,249 -20,095 -14,839 -18,775 -20,620 -26,141
2,657 -2,894 -4,336
-13,081
11291 -3,859 -3,602 -2,849 -1,473 -2,564 -3,009 -4,246 -4,016 -3,529 -2,907 -1,404
-35,310 -32,920 -8,828 -9,881 -7,555 -7,189 -7,042 -10,245 -8,444 -8,950 -9,298 -8,029 -7,156 -7,157 -9,604 -9,003
SURVEY OF CURRENT BUSINESS
March 1986
39
Table 3.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
1984
1985
p
1984
II
III
1985
IV
r
l
II
r
1985
1984
III
r
IV P
II
III
IV
I
r
II r
III r
IV
C Merchandise trade, by principal end use category, adjusted to
balance of payments basis, excluding military: 2
EXPORTS
1 Total (A-9) ...
219,916 213,990 56,155 53,684 56,485 55,113 55,361 50,198 53,318 54,556 55,649 56,242 55,198 53,530 52,276 52,986
2
3
38,329 29,234 9,226 8,238 10,268 8,688 6,930 5,767 7,849 9,487 9,144 9,721 8,212 7,149 6,53^6 7,337
181,587 184,756 46,929 45,446 46,217 46,425 48,431 44,431 45,469 45,069 46,505 46,521 46,986 46,381 45,740 45,649
31,496 23,701 7,606 7,077 8,308 6,736 5,682 5,028 6,254 7,882 7,399 7,936 6,617 5,912 5,208 5,964
30,525 22,537 7,404 6,670 8,106 6,568 5,422 4,468 6,079 7,614 7,175 7,708 6,338 5,553 4,892 5,754
18,033 12,569 4,232 4,438 4,688 3,736 3,123 2,509 3,200 4,372 4,535 4,701 3,556 3,207 2,613 3,193
994 1,277 1,100
822
702 1,148
698 1,461 1,264
5,449 3,772 1,407
728
485 1,295 1,539
7,043 6,196 1,765 1,534 1,957 1,567 1,571 1,474 1,584 1,703 1,646 1,730 1,682 1,523 1,578 1,413
210
359
316
202
268
224
279
971 1,164
407
169
260
228
202
561 .
175
4
5
6
7
8
9
Agricultural products
Nonagricultural products
Foods, feeds, and beverages
Foods, feeds, and beverages—agricultural
Grains
Soybeans
Other agricultural foods, feeds, and beverages
Nonagricultural foods, feeds, and beverages .
10
11
12
13
14
15
16
17
Industrial supplies and materials
Agricultural
Nonagricultural
Energy products
Fuels and lubricants
Petroleum and products
Other nonagricultural
Nonmonetary gold
63,634
7,359
56,275
9,729
9,718
4,735
46,546
2,210
18
19
20
21
22
Capital goods, except automotive
Machinery, except consumer-type
Civilian aircraft, complete— all types
Parts and engines for civilian aircraft
Other transportation equipment.
73,727
62,016
4,178
5,807
1,726
23
24
25
Automotive vehicles, parts and engines
To Canada
To all other areas
22,343
16,966
5,377
26
27
Consumer goods (nonfood), except automotive
All other, including balance of payments adjustments not
included in lines C 4-26.
13,912 13,028
14,805 17,218
60,192 16,405 16,147 16,091 15,542 15,032 14,577 15,041 15,958 16,449 16,228 15,670
6,298 1,704 1,482 2,037 2,018 1,416 1,203 1,662 1,756 1,880 1,889 1,771
53,894 14,700 14,666 14,054 13,523 13,616 13,375 13,380 14,201 14,569 14,339 13,899
10,171 2,762 2,527 2,507 2,353 2,384 2,528 2,906 2,628 2,451 2,494 2,627
10,164 2,762 2,526 2,506 2,353 2,378 2,528 2,906 2,628 2,450 2,494 2,627
5,016 1,227 1,055 1,470 1,275
978 1,197 1,567 1,215 1,069 1,481 1,257
43,723 11,938 12,139 11,547 11,171 11,232 10,847 10,473 11,573 12,118 11,845 11,272
1,739
406
464
806
464
296
472
406
606
606
506
806
75,226 18,786 18,099 19,297 19,035 19,527 17,872 18,793 18,170 18,649 19,162 19,220
60,423 15,791 15,472 15,957 15,434 15,744 14,494 14,752 15,390 15,695 15,947 15,617
780 1,311 1,700 1,771 1,450 1,880 1,016 1,056 1,173 1,719
6,801 1,180
6,441 1,440 1,415 1,499 1,471 1,608 1,603 1,759 1,398 1,467 1,506 1,450
432
1,561
376
432
434
529
430
404
402
366
536
325
24,626 6,013 5,204 5,449 6,114 6,950 5,664 5,898 5,387 5,830 5,599 5,946
18,993 4,680 3,892 3,998 4,749 5,498 4,283 4,463 4,053 4,499 4,170 4,579
5,633 1,333 1,312 1,450 1,365 1,452 1,382 1,434 1,334 1,331 1,429 1,368
3,610
3,735
3,424
3,732
3,420
3,920
3,393
4,295
3,392
4,779
3,052
4,005
3,192
4,140
3,485
3,674
3,492
3,829
3,453
3,863
3,414
4,331
14,648 14,803 15,070
1,504 1,546 1,476
13,144 13,256 13,594
2,233 2,437 2,874
2,227 2,437 2,874
964 1,214 1,582
10,911 10,819 10,720
472
296
506
18,801 18,656 18,549
15,361 14,713 14,732
1,482 1,954 1,646
1,560 1,665 1,766
397
405
325
6,211
4,760
1,452
6,390
4,990
1,401
6,078
4,664
1,413
3,276
4,682
3,113
4,105
3,224
4,101
IMPORTS
28 Total (A-18)
334,023 338,279 85,258 84,181 86,049 78,808 83,428 85,041 91,002 84,181 84,626 87,127 78,563 82,017 85,231 92,468
29
30
Petroleum and products
Nonpetroleum products
31
Foods, feeds, and beverages
57,517 50,397 14,758 14,086 14,396 10,674 12,996 12,485 14,242 14,945 14,239 14,453 10,461 13,047 12,536 14,353
276,506 287,882 70,500 70,095 71,654 68,134 70,432 72,556 76,760 69,235 70,387 72,674 68,102 68,970 72,695 78,115
21,375 21,280 5,257 5,306 5,622 5,407 5,196 5,011 5,666 5,132 5,526 5,548 5,357 5,083 5,221 5,619
32
33
34
35
36
Industrial supplies and materials
Energy products
Fuels and lubricants
Nonenergy products
Nonmonetary gold
124,523
63,529
62,456
60,994
3,411
37
38
39
40
Capital goods, except automotive
Machinery, except consumer-type
Civilian aircraft, engines and parts
Other transportation equipment
41
42
43
44
45
Automotive vehicles, parts and engines
From Canada
Passenger cars, new and used
From all other areas
Passenger cars, new and used
46
47
Consumer goods (nonfood) except automotive
All other, including balance of payments adjustments not
included in lines C 31-46.
See footnotes on page 54.
113,164
55,894
54,859
57,270
3,266
32,349
16,084
15,842
16,265
979
30,529
15,399
15,098
15,131
878
31,173
16,145
15,885
15,029
854
26,363
12,141
11,916
14,222
1,075
28,814
14,513
14,245
14,301
589
28,278
13,629
13,337
14,649
903
29,709
15,611
15,361
14,098
698
32,312
16,365
16,120
15,946
979
30,940
15,724
15,369
15,217
878
31,548
16,187
15,951
15,361
854
25,897
11,743
11,519
14,154
1,075
28,627
14,648
14,380
13,978
589
28,453
13,781
13,488
14,672
903
30,188
15,721
15,471
14,466
698
61,188 63,584 15,384 16,028 16,190 15,117 15,262 16,052 17,153 14,912 16,004 16,480 15,286 14,795 16,012 17,490
56,511 56,801 14,361 14,554 14,944 13,593 13,555 14,347 15,306 13,890 14,530 15,234 13,763 13,088 14,308 15,643
772 1,155 1,028 1,236 1,429 1,361 1,607
3,811 5,632
772 1,155 1,028 1,236 1,429 1,361 1,607
240
866 1,151
288
279
344
251
319
250
319
219
219
288
279
344
240
57,188 65,001 15,162 13,110 15,137 14,829 16,629 15,205 18,339 14,161 14,250 15,415 14,343 15,479 16,470 18,710
23,392 24,624 6,440 5,267 5,865 5,960 6,570 5,442 6,652 5,804 5,998 5,869 5,845 5,864 6,231 6,682
10,116 11,168 2,878 2,201 2,556 2,528 2,956 2,513 3,170 2,387 2,748 2,636 2,369 2,413 3,118 3,267
33,796 40,378 8,722 7,843 9,272 8,869 10,059 9,763 11,686 8,357 8,252 9,546 8,498 9,614 10,239 12,027
20,601 24,851 5,397 4,537 5,676 5,348 6,312 5,776 7,415 5,040 4,932 5,940 4,992 5,873 6,239 7,746
61,334 65,060 14,870 17,160 15,822 14,684 14,746 18,064 17,566 15,510 15,896 15,955 15,209 15,368 16,696 17,787
8,416 10,192 2,237 2,048 2,104 2,409 2,781 2,433 2,569 2,153 2,008 2,180 2,472 2,666 2,380 2,674
40
March 1986
SURVEY OF CURRENT BUSINESS
Table 3.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
1984
1984
1985 "
II
D Merchandise trade, by end-use category, Census basis, 1
including military grant shipments:
1 Merchandise exports, Census basis, including military grant
shipments.
III
1985
IV
lr
II r
1985
1984
III'
IV p
II
III
IV
lr
II r
III r
IV P
218,744 212,373 55,650 53,295 56,630 54,973 54,660 49,861 52,879 54,070 55,256 56,385 55,041 52,856 51,939 52,537
2
3
4
5
6
7
8
9
10
11
Agricultural products
Nonagricultural products
Excluding military grant shipments
Foods, feeds, and beverages
Agricultural
Grains and preparations
Wheat
..
Soybeans
Other agricultural goods, feeds and beverages
Nonagricultural (fish distilled beverages etc )
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
Industrial supplies and materials
,
61,761 58,299 15,979 15,601 15,659 14,994 14,596 14,087 14,622 15,532 15,903 15,796 15,123 14,212 14,312 14,651
Agricultural
7,303 6,298 1,688 1,470 2,029 2,018 1,416 1,203 1,662 1,740 1,868 1,881 1,771 1,504 1,546 1,476
Raw cotton, including linters
438
319
286
418
572
430
214
678
568
2,488 1,611
656
748
219
627
572
395
367
Tobacco, unmanufactured
407
419
318
1,541 1,499
265
264
638
381
265
265
322
398
587
832
824
784
749
Other agricultural industrial supplies (hides, tallow, etc.) .. 3,274 3,188
767
788
819
889
721
723
796
856
792
898
Nonagricultural
54,458 52,001 14,291 14,131 13,630 12,976 13,180 12,884 12,960 13,792 14,034 13,916 13,352 12,708 12,766 13,175
7
Fuels and lubricants
9,718 10,164 2,762 2,526 2,506 2,353 2,378 2,528 2,906 2,628 2,450 2,494 2,627 2,227 2,437 2,874
Coal and related fuels
4,239 4,543 1,279 1,293
879
906 1,272 1,202 1,163 1,158 1,203
855 1,198 1,134 1,095 1,116
Petroleum and products
964 1,214 1,582
4,735 5,016 1,227 1,055 1,470 1,275
978 1,197 1,567 1,215 1,069 1,481 1,257
Paper and paper base stocks
969 1,008
991
4,597 4,065 1,215 1,159 1,119 1,063 1,053
972
978 1,144 1,158 1,155 1,097
631
614
624
Textile supplies and materials
647
607
2,521 2,476
647
613
650
606
609
627
643
617
635
Chemicals, excluding medicinals
18,834 18,004 4,788 4,985 4,650 4,690 4,598 4,454 4,263 4,709 4,884 4,832 4,705 4,536 4,356 4,407
Other nonmetals (minerals wood rubber tires etc )
8,558 8,170 2,263 2,064 2,111 2,003 2,151 2,025 1,991 2,160 2,097 2,164 2,023 2,054 2,054 2,039
330
352
Steel making materials
264
334
350
239
1,174 1,185
332
325
225
303
328
290
339
328
393
376
350
Iron a n d steel products . . . .
417
416
1,769 1,536
472
423
418
406
406
371
352
457
429
1,612
1,532
Other metals, primary and advanced, including advanced
7,287 6,401 1,813 2,026 1,851 1,630 1,648 1,598 1,525 1,778 2,043 1,859 1,638 1,619
steel.
418
353
449
Precious metals (gold, silver, platinum)
546
426
418
835
2,294 1,646
499
835
546
426
353
449
499
29
Capital goods, except automotive
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
Machinery, except consumer-type
Electrical and electronic, including parts and
attachments.
Generators, transformers and accessories
Broadcasting and communications equipment
Telephonic and other electrical apparatus
Nonelectrical, including parts and attachments
Construction machinery and nonfarm tractors
Textile and other specialized industry machinery
Other industrial machinery, n.e.c
Agricultural machinery and farm tractors
Business and office machines, computers, etc
Electronic computers and parts
Scientific, professional, and service industry equipment .
Civilian aircraft, engines, parts ..
Civilian aircraft, complete, all types
Other transportation equipment .
38,145
180,599
180,577
31,353
30,397
18,050
6,672
5,420
6,926
957
29,447 9,186 8,190 10,216 8,871 6,981 5,757 7,838 9,447 9,095 9,670 8,395 7,200 6,525 7,327
182,926 46,464 45,105 46,414 46,102 47,678 44,104 45,041 44,624 46,160 46,715 46,646 45,656 45,413 45,210
182,909 46,458 45,099 46,410 46,099 47,669 44,102 45,040 44,617 46,154 46,712 46,643 45,647 45,411 45,209
23,883 7,579 7,036 8,261 6,916 5,715 5,014 6,239 7,855 7,358 7,889 6,796 5,944 5,193 5,950
22,751 7,380 6,634 8,062 6,750 5,474 4,458 6,069 7,590 7,139 7,664 6,521 5,604 4,882 5,744
12,676 4,242 4,458 4,662 3,798 3,159 2,527 3,192 4,382 4,556 4,676 3,617 3,243 2,630 3,185
924
905
990 1,048
964
920
894 1,619 2,121 1,573
3,866 1,492 2,130 1,558 1,088
674 1,146
744
457 1,293 1,536
838
3,878 1,404
680 1,460 1,385
976 1,276 1,221
6,196 1,734 1,495 1,939 1,567 1,571 1,474 1,584 1,672 1,607 1,712 1,682 1,523 1,578 1,413
340
311
206
275
1,132
199
402
199
165
241
556
225
170
265
219
72,484 73,615 18,450 17,755 19,083 18,640 19,176 17,435 18,365 17,834 18,305 18,948 18,825 18,450 18,220 18,121
61,072 59,138 15,567 15,201 15,797 15,163 15,486 14,098 14,391 15,167 15,424 15,787 15,346 15,103 14,318 14,371
14,985 13,460 3,867 3,768 3,714 3,600 3,474 3,186 3,200 3,746 3,769 3,757 3,668 3,363 3,189 3,239
1,685
7,762
5,538
46,087
6,436
3,799
13,210
1,602
15,984
14,347
5,056
9,738
4,098
1,674
371
397
354
397
419
377
408
1,519
449
386
424
381
403
358
415
6,494 2,022 2,004 1,890 1,815 1,681 1,530 1,468 1,976 1,964 1,920 1,867 1,639 1,495 1,493
5,447 1,396 1,377 1,400 1,403 1,390 1,280 1,374 1,356 1,397 1,418 1,404 1,353 1,297 1,393
45,678 11,700 11,434 12,083 11,563 12,013 10,912 11,191 11,421 11,655 12,030 11,678 11,740 11,128 11,132
6,638 1,668 1,527 1,663 1,626 1,852 1,627 1,534 1,591 1,489 1,707 1,696 1,777 1,593 1,573
918
840
917
975
982
874
919 1,025
3,649
947
977 1,022
954
945
876
12,900 3,322 3,202 3,399 3,228 3,313 3,111 3,247 3,314 3,253 3,359 3,228 3,310 3,159 3,203
424
464
304
363
360
427
395
439
1,555
514
414
315
294
433
433
15,907 3,964 4,087 4,417 4,194 4,176 3,703 3,834 3,906 4,202 4,341 4,224 4,110 3,803 3,769
14,436 3,548 3,694 3,997 3,819 3,776 3,365 3,476 3,495 3,795 3,926 3,852 3,715 3,454 3,416
5,030 1,285 1,227 1,267 1,266 1,294 1,201 1,269 1,252 1,259 1,282 1,252 1,263 1,231 1,283
12,986 2,522 2,136 2,765 3,061 3,302 3,018 3,604- 2,317 2,464 2,634 3,058 2,966 3,584 3,377
771 1,292 1,640 1,742 1,439 1,868
966 1,047 1,154 1,658 1,454 1,942 1,634
6,689 1,131
318
381
373
420
528
350
417
1,492
360
416
388
318
370
418
520
46
47
48
49
50
51
Automotive vehicles, parts and engines
To Canada
.. .
To all other areas
Passenger cars, new and used
Trucks, buses, and special vehicles
Bodies, engines, parts and accessories, n.e.c
20,869 22,867
15,492 17,234
5,377 5,633
4,922 6,071
2,443 2,744
13,504 14,052
5,606
4,273
1,333
1,439
643
3,524
4,779
3,467
1,312
943
592
3,244
5,204
3,753
1,450
1,237
609
3,358
5,746
4,381
1,365
1,572
610
3,564
6,403
4,951
1,452
1,769
761
3,872
5,241
3,860
1,382
1,257
672
3,313
5,477
4,043
1,434
1,473
701
3,303
4,980
3,646
1,334
1,156
539
3,285
5,405
4,074
1,331
1,218
634
3,552
5,354
3,925
1,429
1,251
675
3,428
5,579
4,211
1,368
1,557
602
3,420
5,664
4,212
1,452
1,403
629
3,632
5,967
4,567
1,401
1,613
725
3,629
5,657
4,244
1,413
1,498
788
3,371
52
53
54
55
Consumer goods (nonfood), except automotive
Consumer durables, manufactured
Consumer nondurables, manufactured
Unmanufactured consumer goods (gem stones)
13,411 12,563
5,057 4,490
7,908 7,597
446
476
3,481
1,339
2,024
117
3,267
1,186
1,981
101
3,337
1,231
1,992
114
3,244
1,152
1,974
117
3,243
1,200
1,916
127
2,967
1,028
1,842
98
3,108
1,110
1,864
134
3,356
1,259
1,987
110
3,335
1,214
2,012
110
3,370
1,250
2,004
116
3,265
1,186
1,966
112
3,128
1,125
1,883
119
3,029
1,051
1,872
106
3,141
1,128
1,875
138
56
Special category (military-type goods)
57
58
59
Exports, n.e.c., and reexports
Domestic (low-value miscellaneous)
Foreign (reexports)
See footnotes on page 54.
5,362
1,145
1,410
1,383
1,450
1,407
1,310
1,196
1,145
1,410
1,383
1,450
1,407
1,310
1,196
13,848 15,784
8,012 9,568
5,836 6,216
3,410
2,004
1,406
3,448
2,022
1,425
3,703
2,099
1,604
3,984
2,415
1,570
4,121
2,500
1,621
3,807
2,300
1,507
3,871
2,353
1,518
3,368
1,954
1,413
3,540
2,042
1,497
3,644
2,106
1,538
4,004
2,452
1,552
4,051
2,421
1,630
3,907
2,330
1,577
3,822
2,364
1,457
5,019
41
SURVEY OF CURRENT BUSINESS
March 1986
Table 3.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
1984
II
III
IV
I'
II r
1985
1984
1985
1984
1985"
III''
IV "
II
III
IV
lr
II r
III r
IV '
D Merchandise trade, by end-use category, Census basis, *
including military grant shipments —Continued:
330,514 335,127 84,443 83,287 85,235 77,921 82,598 84,112 90,496 83,362 83,678 86,336 77,677 81,187 84,301 91,962
60 Merchandise imports, Census basis
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
Foods, feeds, and beverages .
Coffee, cocoa, and sugar
Green coffee
Cane sugar .. ..
Other foods, feeds, and beverages
Meat products and poultry
j
Fish and shellfish
Vegetables fruits nuts and preparations
Whiskey and other alcoholic beverages
Industrial supplies and materials ..
Fuels and lubricants 7
f
Petroleum and products
Paper and paper base stocks
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).
Building materials, except metals
Materials associated with durable goods output n e s
Steelmaking materials
Iron and steel products
Other metals, primary and advanced, including advanced
steel.
Precious metals (gold, silver platinum)
Nonmetals (oils, gums, resins, minerals, rubber, tires,
etc.).
21,345 21,280
4,859 4,421
3,098 3,076
848
1,291
5,255
1,218
771
318
5,303
1,250
836
356
5,616
1,147
746
256
5,407
1,264
811
256
5,196
1,081
762
199
5,011
932
698
164
5,666
1,143
805
229
5,130
1,221
816
304
5,524
1,252
835
356
5,542
1,155
722
212
5,357
1,231
793
300
5,083
1,100
808
190
5,220
942
695
165
5,619
1,148
781
193
16,487 16,858
2,119 2,276
3,694 3,884
3,009 3,235
2,874 2,873
4,036
510
916
820
713
4,053
582
970
611
693
4,468
526
953
652
898
4,142
534
898
992
568
4,115
573
963
850
673
4,078
594
959
658
776
4,523
575
1,064
734
856
3,909
510
922
669
739
4,273
582
932
755
699
4,387
526
912
801
783
4,126
534
973
848
648
3,983
573
974
690
698
4,278
594
919
797
779
4,471
575
1,018
900
747
122,582
62,259
57,323
7,340
16,234
111,588 31,866 30,042 30,624 26,001 28,496 27,700 29,391 31,826 30,399 31,022 25,536 28,309 27,875 29,869
54,877 15,760 15,058 15,757 11,917 14,247 13,344 15,369 16,038 15,329 15,823 11,520 14,382 13,496 15,479
50,414 14,608 14,065 14,374 10,674 12,998 12,492 14,250 14,794 14,218 14,432 10,462 13,049 12,543 14,361
7,170 1,876 1,870 1,953 1,818 1,773 1,775 1,805 1,800 1,949 1,948 1,820 1,698 1,851 1,801
16,062 4,310 3,894 3,893 4,035 4,063 3,893 4,071 4,186 3,983 4,095 3,867 3,943 3,960 4,292
3,460
549
8,502
3,552
950
224
2,256
880
898
137
1,992
867
837
82
2,053
921
843
158
2,166
867
842
150
2,215
856
880
115
2,024
875
894
127
2,097
953
917
186
2,216
867
886
161
2,039
898
894
138
2,093
970
831
112
2,121
803
812
114
2,175
843
862
123
2,067
908
955
200
2,140
998
5,250 5,752
31,499 27,727
1,679 1,497
10,551 9,010
14,515 12,726
1,390
8,531
493
2,778
4,045
1,363
7,858
438
2,798
3,470
1,291 1,222
7,730 7,010
411 ^279
2,703 2,281
3,399 3,294
1,534
6,879
361
2,212
3,144
1,553
7,135
488
2,389
3,155
1,443
6,703
368
2,128
3,133
1,332
8,471
445
2,892
3,924
1,259
7,879
418
2,759
3,548
1,396
7,761
397
2,620
3,520
1,299
7,030
365
2,284
3,229
1,471
6,814
324
2,298
3,034
1,428
7,140
454
2,360
3,222
1,554
6,743
354
2,068
3,240
4,590
4,494
1,360
1,216
1,160
1,151
1,202
1,217
1,079
1,163
1,093
1,103
1,095
1,073
1,360
1,210
1,160
1,154
1,202
1,224
1,322
1,152
1,079
1,158
1,093
1,105
1,095
1,081
3,573
640
8,441
3,579
4,889
4,754
1,322
1,156
62,795 15,258 15,847 16,096 14,900 15,136 15,779 16,980 14,787 15,823 16,386 15,069 14,668 15,740 17,318
56,801 14,394 14,600 14,936 13,593 13,555 14,346 15,306 13,922 14,577 15,226 13,762 13,088 14,308 15,643
18,106 4,808 5,000 4,963 4,351 4,286 4,534 4,935 4,756 4,887 4,934 4,540 4,233 4,428 4,905
38,694 9,585 9,600 9,973 9,242 9,269 9,812 10,371 9,166 9,690 10,292 9,222 8,854 9,879 10,738
6,745 1,627 1,576 1,645 1,621 1,629 1,736 1,759 1,626 1,575 1,646 1,622 1,628 1,734 1,761
Capital goods, except automotive
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.e.s
Agricultural machinery and farm tractors
Business and office machines, computer etc
Scientific, professional, and service industry equipment .
Transportation equipment, except automotive
Civilian aircraft, engines, parts..,
Civilian aircraft, complete, all types
60,757
56,561
19,032
37,528
6,166
98
99
100
101
102
103
Automotive vehicles, parts and engines
From Canada.
From all other areas
Passenger cars, new and used .. . .
Trucks, buses, and special vehicles
Bodies, engines, parts and accessories, n.e.s
56,789
22,993
33,796
30,717
8,200
17,872
65,046 15,115 13,006 15,129 14,873 16,630 15,205 18,339 14,114 14,146 15,406 14,387 15,479 16,470 18,710
24,624 6,392 5,163 5,857 5,960 6,570 5,442 6,652 5,756 5,893 5,860 5,845 5,864 6,231 6,682
40,422 8,722 7,843 9,272 8,913 10,060 9,763 11,686 8,357 8,252 9,546 8,542 9,615 10,239 12,027
36,063 8,275 6,738 8,232 7,920 9,268 8,290 10,585 7,427 7,680 8,576 7,406 8,287 9,358 11,013
9,419 2,259 1,944 2,162 2,261 2,429 2,129 2,600 2,259 1,944 2,162 2,261 2,429 2,129 2,600
19,564 4,581 4,324 4,734 4,691 4,933 4,786 5,154 4,428 4,523 4,668 4,720 4,764 4,984 5,096
104
105
106
107
108
109
Consumer goods (nonfood), except automotive
Consumer durables, manufactured
Electric household appliances, radio, television
Consumer nondurables, manufactured
Textile products, except rugs
Unmanufactured consumer goods (gems, nursery stock)
61,299
31,249
10,762
26,273
13,847
3,777
65,060 14,865 17,156 15,814 14,684 14,746 18,064 17,566 15,505 15,893 15,947 15,209 15,368 16,696 17,787
33,104 7,479 8,520 8,645 7,439 7,582 8,889 9,194 7,831 8,200 8,218 7,888 7,928 8,534 8,755
11,218 2,505 3,111 3,086 2,518 2,593 3,092 3,016 2,605 2,954 2,904 2,790 2,680 2,924 2,824
27,983 6,497 7,656 6,170 6,304 6,272 8,162 7,245 6,784 6,703 6,742 6,379 6,549 7,138 7,916
14,849 3,413 4,172 3,132 3,468 3,283 4,400 3,698 3,539 3,577 3,516 3,539 3,404 3,764 4,142
942
891 1,024 1,116
986
890
989
3,973
980
892 1,014 1,128
889
998
940
110
Imports, n.e.s. (low value, U.S. goods returned, military
aircraft, movies, exhibits).
91
92
93
94
95
96
97
See footnotes on page 54.
...
9,966 10,907
1,893 1,670
14,028 13,076
5,475 6,296
4,197 5,994
3,799 5,632
1,310 1,822
7,742
9,358
2,585
538
3,505
1,331
865
771
222
2,084
2,565
452
3,575
1,432
1,246
1,154
511
1,932
2,531
442
3,862
1,493
1,159
1,025
285
1,957
2,483
437
3,326
1,375
1,307
1,236
480
2,056
2,720
440
2,983
1,498
1,580
1,429
586
2,395
2,817
385
3,175
1,699
1,433
1,361
351
2,353
2,887
409
3,592
1,724
1,674
1,607
406
2,555
2,406
467
3,372
1,296
865
771
222
2,000
2,504
496
3,661
1,454
1,246
1,155
511
1,892
2,711
477
3,931
1,527
1,159
1,025
285
2,033
2,541
428
3,284
1,347
1,307
1,236
480
2,119
2,532
379
2,864
1,452
1,580
1,429
586
2,280
2,746
421
3,254
1,724
1,433
1,361
351
2,300
3,088
441
3,674
1,773
1,674
1,607
406
2,660
42
March 1986
SURVEY OF CURRENT BUSINESS
Table 4.—Selected U.S. Government Transactions
[Millions of dollars]
Line
Al U.S. Government grants (excluding military) and transactions increasing Government assets, total
1985
1984
1984
I
II
III
IV
II
I
III r
IV p
18,521
18,309
4,515
4,235
4,539
5,232
4,106
4,464
4,839
4,900
By category
2
3
4
Grants, net (table 1 line 30 with
sign reversed)
Financing military purchases l
Other grants
8,522
2,022
6,500
11,246
2,963
8,283
1,480
350
1,130
1,522
354
1,168
2,207
807
1,400
3,313
512
2,802
2,238
874
1,363
2,585
890
1,695
3,130
564
2,566
3,293
635
2,659
5
6
7
8
9
Credits and other long-term assets (table 1, line 40, 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
9,619
1,427
7,639
160
393
7,219
1,302
5,419
67
432
2,784
324
2,313
54
93
2,713
311
2,271
33
98
2,203
376
1,698
23
105
1,919
415
1,356
50
97
1,776
335
1,294
52
94
2,152
340
1,700
6
105
1,726
336
1,261
3
127
1,565
290
1,164
5
107
10
11
Foreign currency holdings and short-term assets, net (table 1, line 42, with sign reversed)
Foreign currency holdings (excluding administrative cash holdings) net
Receipts from:
Sales of agricultural commodities
Interest
Repayments of principal
Reverse grants
Other sources
Less currencies disbursed for:
Grants and credits in the recipient's currency
....
Other grants and credits
Other U.S. Government expenditures
Assets acquired in performance of U.S. Government guarantee and insurance obligations, net
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
380
-74
-156
-106
251
-24
(*)
28
130
-14
-1
-8
93
19
-273
-11
17
-21
41
-55
(*)
9
20
(*)
11
41
(*)
8
20
(*)
12
25
(*)
7
37
(*)
8
25
12
13
14
15
16
(*)
43
105
(*)
36
107
(*)
13
16
(*)
11
29
42
15
18
6
15
3
3
5
2
4
6
5
254
560
-5
2
4
257
-28
4
4
1
(*)
(*)
1
(*)
68
269
-1
72
67
-1
57
162
-2
1
5
56
62
(*)
50
29
(*)
54
-200
(*)
67
25
4
1
4
87
118
(*)
-26
8
-38
-16
-55
83
62
-25
-22
1,302
2,290
12,161
1,489
227
537
157
257
404
324
310
2,614
658
416
114
48
68
100
311
623
2,095
887
156
133
45
72
58
376
542
2,728
460
242
116
44
57
88
415
367
3,599
510
160
142
54
56
39
335
525
2,542
390
46
111
32
50
174
340
690
2,892
316
26
170
43
54
42
336
722
3,143
397
34
124
46
67
104
290
353
3,583
386
121
132
37
87
84
3,695
1,673
581
885
712
3,400
1,483
660
631
420
3,540
1,712
585
894
358
2,600
1,418
496
477
339
3,096
1,561
577
774
289
3,337
1,676
536
1,058
567
2,832
1,567
553
537
267
2,621
1,341
609
575
414
174
104
526
3
211
478
219
4
536
74
352
(*)
138
91
191
-6
485
100
137
4
491
66
61
_j
271
91
148
5
161
44
146
-4
8
3
20
10
7
5
3
4
44
Estimated transactions involving no direct dollar outflow from the United States
13,235 11,885
Expenditures on U.S. merchandise
6,286
6,145
Expenditures on U.S. services 4 .. . .
2,275
2,321
5
Financing of military sales contracts by U.S. Government (line C6) .
2,888
2,945
By long-term credits 1
1,537
1,829
By short-term
credits
By grants l
1,059
1,408
l 4
U.S. Government grants and credits to repay prior U.S. Government credits
301
747
U.S. Government long- and short-term credits to repay prior U.S. private credits 6 and other assets- 1,287
491
Increase in liabilities associated with U.S. Government grants 7and transactions increasing
5
1
Government assets (including changes in retained accounts) (line Cll).
1
Less receipts on short-term U.S. Government assets (a) financing military sales contracts, (b)
19
41
financing repayment of private credits and other assets, and (c) financing expenditures on U.S.
merchandise.
Less foreign currencies used by U.S. Government other than for grants or credits (line A19)
254
257
45
Estimated dollar payments to foreign countries and international financial institutions
17
18
19
20
21
22
23
-102
By program
24
25
26
27
28
29
30
31
32
Capital subscriptions and contributions to international financial institutions, excluding IMF
Under Agricultural Trade Development and Assistance Act and related programs
Under Foreign Assistance Act and related programs
Under Export-Import Bank Act
Under Commodity Credit Corporation Charter Act
. .
Under other grant and credit 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
33
34
35
36
37
38
39
40
41
42
43
1,427
1,842
11,036
2,515
973
,
505
191
254
286
3
..
56
50
54
67
87
2,632
1,010
1,128
2,007
2,279
4,435
888
1,378
924
1,294
931
1,045
1,274
1,186
3,996
294
1,162
2,291
133
117
783
40
319
407
9
8
1,265
81
380
773
28
3
821
51
292
420
47
12
1,185
162
338
555
24
105
816
31
223
542
13
7
940
51
308
558
23
(*)
1,165
73
346
661
78
6
1,076
139
284
530
19
104
105
109
110
575
-95
130
574
1,404
-22
1,370
224
2,690
103
840
178
-482
162
-585
146
860
4,054
333
1,329
2,156
108
127
430
439
105
113
115
453
148
233
555
-139
-197
-462
656
Associated with military sales contracts 2
U.S. Government cash receipts from foreign governments (including
principal repayments on
8,575
credits financing military sales contracts), net of refunds l.
Less U.S. Government receipts from principal repayments
641
80
Less U.S. Treasury securities issued in connection with prepayments for military purchases in the
United States.
5
Plus financing of military sales contracts by U S Government (line A36)
2,888
By long-term credits 1
1,829
By short-term
credits
.
...
B y grants 1
.
.
.
.
.
.
. 1,059
10,086
Less transfers of goods
and services (including transfers financed by grants for military purchases,
and by credits) 1 2 (table 1, line 3).
404
7,974
247
2,156
641
1,622
-130
2,428
102
2,369
-372
2,510
186
136
104 -1,050
135
728
183
299
Receipts of principal on U.S. Government credits
Under Agricultural Trade Development and Assistance Act and related programs
Under Foreign Assistance Act and related programs . . .
Under Export-Import Bank Act
Under Commodity Credit Corporation Charter Act
Under other credit programs
8
Receipts on other long-term assets
Cl U.S. Government liabilities other than securities, total, net increase ( + ) (table 1 line 53)
6
7
8
9
10
57
999
4,483
2
3
4
5
6
7
4
5
72
835
6,424
Bl Repayments on U.S. Government long-term assets, total (table 1, line 41)
2
3
68
821
5,286
11
Associated with U.S. Government
grants and transactions increasing Government assets (including
changes in retained accounts) 7 (line A42).
12
13
14
15
Associated with other liabilities
Sales of nuclear material by Department of Energy
Sales of space launch and other services by National Aeronautics and Space Administration
Other sales and miscellaneous operations ....
....
See footnotes on page 54.
,
590
633
103
109
2,945
1,537
885
712
631
420
894
358
477
339
774
289
1,058
567
537
267
575
414
1,408
9,293
174
2,555
211
2,476
536
2,590
138
2,466
485
2,713
491
2,193
271
2,353
161
2,034
1
5
3
4
(*)
-6
4
-1
5
—4
-204
-360
88
68
-261
-109
-143
-9
-17
-33
31
-14
-90
113
-12
34
-8
-131
51
71
-90
84
18
-24
-94
38
-16
-40
2
-11
-36
49
-79
-28
-48
-4
-90
-32
-44
-14
43
SURVEY OF CURRENT BUSINESS
March 1986
Table 5.—Direct Investment: Income, Capital, and Fees and Royalties
[Millions of dollars]
19 35
' 1984
Lino
II
I
III
IV
I
III r
II
IV P
U.S. direct investment abroad:
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
Income (table 1, line 11)
..
Income before capital gains/losses
Capital gains /losses (gains 4- * losses
Earnings (net of withholding taxes) . .
Distributed earnings
Reinvested earnings
Interest (net of withholding taxes) . .
)*
..
Capital (table 1, line 44)
Equity capital
Increases in equity capital 23
Decreases in equity capital ...
Reinvested earnings
Intercompany debt
U.S. parents' receivables
U S parents' payables
Fees and royalties (table 1, line 7)
. . . .
23078
31,478
8400
27,455
16,490
10965
-4,377
35,291
29,736
5557
39,566
17,302
22264
-4,274
8462
8,200
262
9361
3,072
6290
899
4,651
7,672
3021
5,695
3,354
2341
-1,044
3,539
6,806
3267
4,735
3,324
1411
-1,197
6,427
8,801
-2,374
7,664
6,740
924
-1,237
4,724
7,333
-2,609
5,721
4,424
1,297
-997
8,627
7,596
1,031
9,741
2,652
7,089
-1,114
10,036
6,161
3,876
11,102
3,867
7,235
-1,065
11,904
8,646
3,259
13,002
6,359
6,643
1,098
4503
-1,478
8584
7,106
10965
7940
-492
8432
19091
1,279
na
na
22264
1894
na
na
4114
620
1657
1037
6290
2796
-1246
4042
1502
-1,109
3220
2,111
2341
4951
-1,585
6536
2114
22
1744
1,766
1411
3502
1,358
2144
-4,005
228
1,963
2,191
924
-3,309
•
981
4290
750
189
-1503
1,692
1297
1,858
803
1055
-5,348
554
-1,368
814
7089
2,295
1,679
616
6,938
1,853
-2,178
4,031
-7,235
-1,556
1,251
-305
-7,555
-209
n.a.
n.a.
-6,643
703
n.a.
n.a.
6,530
6,817
1,515
1,543
1,655
1,817
1,528
1,629
1,577
2,083
23078
10,065
7236
5,777
31,478
11 130
12,378
7970
35291
10,011
16260
9,020
29,736
9812
12,734
7 189
8462
3208
3192
2062
8,200
3053
3175
1973
4651
2,042
1678
931
7,672
2400
3,278
1993
3539
2,440
230
869
6,806
2663
2,448
1695
6,427
2,375
2135
1,916
8,801
3,015
3,477
2309
4,724
1,522
1694
1,508
7,333
2743
2,779
1811
8,627
2,553
3754
2,321
7,596
2483
3,207
1907
10,036
2,203
4,908
2,925
6,161
1,810
2,530
1,820
11,904
3,733
5,904
2,266
8,646
2,776
4,218
1,651
1478
164
-535
1 108
— 10,965
4017
1 551
5397
7*940
3090
793
5642
1279
2815
-817
718
22264
3528
11380
7356
1894
1602
1468
1 174
620
30
-96
553
6290
2096
2006
2187
2796
1846
*317
1267
1 109
404
28
732
2341
1017
318
1005
4951
1376
130
3445
22
293
-227
43
1411
1282
1067
1 195
3502
1419
63
2147
228
246
-240
221
-924
379
-293
1010
3309
-1,551
542
1217
189
298
-80
29
-1,297
106
456
947
1858
232
1084
542
554
-32
-427
-95
-7,089
1829
-2926
2334
2295
2,083
226
-13
1853
2,575
-122
-600
-7,235
-209
707
-3,750
2778
-1,556
-826
206
-935
By industry of affiliate: 4
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
Income (line 1) ....
Petroleum
Manufacturing
Other
Income before capital gains/losses (line 2)
Petroleum
....
Manufacturing
Other
Capital:
Equity capital (line 9)
Petroleum
Manufacturing
Other
Reinvested earnings (line 12, or line 6 with sign reversed) . .
Petroleum
Manufacturing
Other
Intercompany debt (line 13)
Petroleum
Manufacturing
Other
-26
188
6
-6,643
1098
-4,248
1297
-703
113
-48
-768
Foreign direct investment in the United States:
37
38
39
40
41
42
43
44
45
Income (table 1 line 25)
Income before capital gains/losses
Capital gains/losses (gains — ; losses +) 5
Earnings (net of withholding taxes)
Distributed earnings
Reinvested earnings
Interest (net of withholding taxes) .
U.S. affiliates' payments
U.S. affiliates' receipts
10 187
9*495
693
7 194
3473
3722
2993
3580
587
9 013
8401
*612
5874
3834
2040
3139
3830
692
2 146
1942
204
1 579
926
653
567
696
129
2640
2786
147
1831
837
994
809
963
155
2792
2244
547
2009
823
1 186
783
932
150
2610
2*522
-88
1775
-887
888
835
-989
154
2295
2033
-262
1551
1006
545
745
-909
164
2768
2*324
-445
2029
-960
1069
'739
-908
169
2132
-2,283
150
-1,291
-1,205
86
-841
-1,005
164
1818
-1,762
-56
1003
-663
340
-814
-1,009
195
46
47
48
49
50
51
52
53
Capital (table 1, line 57)
Equity capital
Increases in equity capital 23
Decreases in equity capital
Reinvested earnings
Intercompany debt
U.S. affiliates' payables
U.S. affiliates' receivables
22514
10,909
12382
1 474
3722
7883
8959
1 075
16254
10106
12273
2 167
2040
4108
6407
2*299
3304
2068
2437
'369
653
583
793
210
9289
3449
3945
496
994
4846
5592
745
5228
2,955
3118
163
1 186
1087
475
612
4692
2,436
2882
446
888
1,367
2099
732
2,082
2,072
2223
151
545
-535
972
1507
6736
2,465
3029
564
1069
3,203
2891
*311
5,951
2,952
3,800
1,485
2,617
3,221
-604
54
55
56
Fees and royalties (table 1 line 21)
U.S. affiliates' payments
U.S. affiliates' receipts
187
2013
1,826
159
1890
2048
99
426
525
30
448
418
155
553
398
101
586
485
64
509
445
14
467
482
62
146
-453
-461
9013
2574
1 529
4 910
8401
2683
1*488
4 230
2146
490
619
1 037
1*942
*528
596
819
2640
672
937
1 030
2786
718
924
1 144
2792
642
659
1 490
2244
587
664
993
-2610
855
462
1 294
2522
861
462
1 200
-2,295
649
385
1 261
2*033
650
349
1 034
-2,768
725
513
1531
-2*324
698
547
1 079
10106
510
4 234
5362
2040
1 006
10
1045
4108
1 170
3329
391
2068
222
567
1279
653
160
213
280
583
268
360
1211
3449
100
359
3190
994
412
539
43
4846
4867
194
214
2955
181
1 221
1554
1 186
391
304
492
1087
210
487
1364
2436
37
208
2191
888
439
1
451
1,367
107
580
680
2072
49
803
1219
545
303
29
272
-535
127
913
1576
2465
144
1567
'753
1069
221
140
707
3203
1236
1188
779
848
86
2,913
2,920
8
515
340
-1,472
-376
1096
607
By industry of affiliate: 4
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
Income (line 37)
Petroleum
Manufacturing
Other
Income before capital gains/losses (line 38)
Petroleum
Manufacturing
Other
Capital:
Equity capital (line 47)
Petroleum
Manufacturing
Other
Reinvested earnings (line 50, or line 42 with sign reversed)
Petroleum
Manufacturing .
Other
.. .
Intercompany debt (line 51)
Petroleum
..
Manufacturing
Other
See footnotes on page 54.
— 10187
2659
2 678
4851
9495
2693
2646
4 156
10909
340
2355
8,214
3722
1 401
1 055
1266
7,883
4916
-72
3040
-2,132
841
286
1005
-2,283
816
267
1 200
-1,818
360
345
1 113
-1,762
-519
326
917
2,952
260
1 167
1,526
86
384
83
215
2,913
91
1,515
1308
2,617
57
696
1,864
340
98
39
281
- 1,472
283
—287
902
44
SURVEY OF CURRENT BUSINESS
March 1986
Table 6.—Securities Transactions
[Millions of dollars]
1984
1985
II
I
Al
Foreign securities, net U.S. purchases ( — ), (table 1, line 45 or lines 2 + 12 below)
2
Stocks, net U.S. purchases
3
4
5
New issues in the United States
Of which Canada
Japan
6
7
8
9
10
11
Transactions in outstanding stocks net
Western Europe...
Of which United Kingdom
Canada ...
Japan
Other
12
Bonds, net U.S. purchases
756
1313
3,663
— 2,214
-1,708
-1,456
3
723
731
1 921
220
— 1,005
-809
—454
90
435
72
— 25
13
-223
40
-166
37
-40
-85
72
-11
152
-187
673
608
325
278
354
697
3520
— 1 572
696
1 155
118
675
355
36
64
143
220
44
220
78
62
57
231
146
557
-209
3
7
45
386
691
-513
326
85
142
121
1836
-835
379
-292
566
143
-209
-319
226
-152
372
— 110
-853
205
-174
-267
96
-285
-622
-213
83
444
172
-137
163
-492
25
Other countries . .
International financial institutions 2
-2,582
1 113
398
18
760
-798
- 1,509
2229
-198
55
566
-1,039
-25
475
-100
18
-62
25
26
27
28
Redemptions of U.S.-held foreign bonds 3
Western Europe
Canada
Other countries
International financial institutions 2
2960
425
1595
590
350
2125
29
30
31
32
33
34
Other transactions in outstanding bonds, net 3
Western Europe
Of which United Kingdom..
Canada
Japan
Other
18
19
20
21
22
23
24
Bl U.S. securities, excluding Treasury securities and transactions of foreign official agencies,
net foreign purchases ( + ), (table 1, line 59 or lines 2 + 10 below).
2
Stocks, net foreign purchases
By area:
Western Europe
Of which Germany
Switzerland
United Kingdom
Canada
Japan
Other
3
4
5
6
7
8
9
IV P
330
3 223
-400
934
1,039
By area:
Western Europe
Canada
Japan
III r
673
3461
-992
418
-798
17
2494
II
3 955
-5596
15
16
I
7871
—3,916
14
IV
1 127
—3,932
New issues in the United States
By issuer:
Central governments and their agencies and corporations
Other governments and their agencies and corporations 1
Private corporations
International financial institutions 2
III
5059
-5669
13
19?55
19*34
p
342
-680
—753
-590
— 2,931
-573
-1,993
-703
-647
-2,287
-864
- 1,838
- 1,278
-1,610
1,210
1,498
290
-200
— 195
-593
497
-200
-739
-174
1210
1226
-239
-900
350
-250
114
-150
-548
-1,672
298
-150
-350
260
-48
-534
-80
-100
-200
350
527
-831
-66
-100
-56
-150
-576
-548
45
-90
-593
10
-68
-174
765
150
375
165
75
825
75
450
150
150
550
50
350
150
725
820
150
420
125
125
-1,223
5520
4706
257
1082
3472
-445
6141
5264
259
390
5827
203
764
628
231
82
654
768
695
355
121
239
1,345
-551
1426
-1,203
175
555
495
12,983
50,712
1,494
506
830
4732
1030
2969
48
1490
659
1674
131
596
1993
730
67
1587
353
298
2088
1400
1 738
-250
199
-100
1 210
-'so'
-272
-71
-543
-148
-198
-337
-272
525
500
525
575
400
400
325
275
125
100
200
300
1,643
2,635
-2,520
192
206
978
180
-726
-917
100
-42
1,048
-883
-2,675
-1,736
352
276
1,164
-18
-1,659
1,606
98
250
1,793
276
1,081
-1,005
-91
374
1,822
1,603
9,380
9,510
7,135
11,674
22,393
87
— 1,032
—741
— 1,124
441
1,382
4,033
165
362
188
-280
707
39
119
481
81
251
-124
170
-958
102
-413
-142
331
105
-9
-1,346
357
-414
-236
214
191
199
374
67
-89
-361
-21
191
645
866
232
77
690
168
-124
472
2,847
788
513
1,494
-8
422
772
224
-1,695
227
1,014
-113
466
65
262
10
Corporate and other bonds, net foreign purchases
13 813
45980
464
593
2,635
10,121
10,634
6,694
10,292
18,360
11
12
13
By type:
New issues sold abroad by U.S. corporations 4
U.S. federally-sponsored agency bonds net
Other outstanding bonds *iet
10383
1215
2*215
37597
4695
3688
56
520
180
30
383
1,881
440
314
8,322
801
998
9,628
674
332
5,274
641
779
10,238
1,239
-1,185
12,457
2,141
3,762
14
15
16
17
18
19
20
21
By area:
Western Europe
Of which Germany
Switzerland
United Kingdom
Canada
Japan
Other countries
International financial institutions
11285
1732
640
8527
71
1,463
842
294
39372
2016
3993
32407
203
5423
1096
-114
213
48
-135
330
75
230
76
20
145
297
21
196
42
313
102
75
1,808
456
66
1,150
22
380
387
38
9,119
931
688
7,243
24
540
277
161
9,756
-199
810
9,041
44
428
382
24
5,323
158
229
4,683
48
1,120
186
17
8,793
444
889
7,143
-60
1,442
110
7
15,500
1,613
2,065
11,540
171
2,433
418
-162
506
167
-452
2097
20904
9942
8,365
329
-1598
110
21240
40
1,036
3
27
627
-262
3840
-570
146
-501
478
4175
2827
-425
85
35
522
4,820
3044
465
-67
-13
470
12,171
231
-1,428
-307
-40
77
1,629
5,618
136
-935
102
7,502
40
2,956
24
413
35
5,018
1,219
-182
-210
50
7,091
2
Memoranda:
Other foreign transactions in marketable, long-term U.S. securities included elsewhere in
international transactions accounts:
Foreign official assets in the United States (lines in table 9):
1
U.S. Treasury marketable bonds (line A4)
2
Other U.S. Government securities (line A6)
3
U.S. corporate and other bonds (part of line A14)
4
U.S. stocks (part of line A14)
5 Other foreign transactions in U.S. Treasury bonds and notes (table 9, line B4)
6 New issues of bonds sold abroad by U S corporations' finance affiliates in the Netherlands
Antilles (included in table 5, line 8) 4.
See footnotes on page 54.
SURVEY OF CURRENT BUSINESS
March 1986
45
Table 7.—Claims on and Liabilities to Unaffiliated Foreigners Reported by U.S. Nonbanking Concerns
[Millions of dollars]
Al Claims, total (table 1, line 46). .
2
3
4
5
6
7
8
9
10
11
12
13
14
..
Financial claims
. .
Denominated in US dollars
Denominated in foreign currencies
By type: Deposits
Other claims *
>
By area: Industrial countries 2
Of which United Kingdom
Canada
Caribbean banking centers 3
Other ..
Commercial claims
Denominated in U S dollars
.
Denominated in foreign currencies
15
16
By type: Trade receivables
Advance payments and other claims
17
18
19
By area: Industrial countries4 2
Members of OPEC
Other
..
..
Bl Liabilities, total (table 1 line 60)
2
3
4
5
6
7
8
9
10
11
Financial liabilities
Denominated in US dollars
Denominated in foreign currencies
By area: Industrial countries 2
Of which United Kingdom
Caribbean banking centers 3
Other
....
Commercial liabilities
Denominated in U.S. dollars
Denominated in foreign currencies
1984
I
II
Amounts
1985
19 84
(Credits + ; increase in U.S. liabilities or decrease in U.S. assets. Debits — ;
decrease in U.S. liabilities or increase in U.S. assets.)
Line
III
I
IV
II
III*
IV
ing Sept.
30, 1985
6,266
1,289
1,908
2,099
970
1,201
1,863
-1,873
n.a.
28,897
5694
5 111
583
1020
1490
1,542
52
1 146
900
246
894
1,186
292
2,051
2,099
-48
-2,388
2,183
-205
n.a.
786
234
2038
1,883
155
n.a.
n.a.
18,805
16,563
2,242
4,881
813
871
149
1,362
128
1,581
1,067
79
316
578
1,943
108
-2,497
109
n.a.
n.a.
15,074
3,731
3,195
1 281
2,202
2,456
43
671
220
501
259
90
362
5
485
1,264
136
1,703
840
836
222
113
459
216
380
711
24
-207
233
11
582
519
783
238
154
1,232
36
-1,605
-795
231
-1,018
235
n.a.
n.a.
n.a.
n.a.
n.a.
11,093
5,657
3,979
6,804
908
572
670
98
267
301
34
61
21
40
174
-98
76
307
71
236
188
-105
83
515
545
30
n.a.
44 6
28
n.a.
na
10,092
9,467
625
637
-65
181
86
435
-17
220
-199
25
348
-41
-336
148
683
-168
n.a.
n.a.
8,406
1,686
-310
190
692
-210
85
392
187
18
213
— 15
1
75
-272
86
12
239
76
144
41
-10
-219
421
29
65
n.a.
n.a.
n.a.
5,384
1,145
3,563
4,284
4520
4566
2939
1863
2,655
-1,324
509
n.a.
26,337
346
n.a.
340
6
n.a.
n.a.
11,814
9,863
1,951
418
457
-159
3,509
3420
89
3,754
3515
239
4,163
4138
25
-2,486
2228
-1,922
2005
83
-2,337
2220
— 117
280
164
116
1434
549
1661
414
1474
951
2279
1
144
222
3979
40
381
-542
2202
97
197
82
2395
276
1054
-502
1202
81
266
-228
468
78
781
552
482
47
n.a.
n.a.
na
n.a.
8,524
3,373
2492
798
775
1011
236
766
404
468
— 64
-453
305
-148
58
60
-2
-318
239
-79
-1,604
1366
-238
163
n.a.
788
-22
146
17
n.a.
n.a.
14,523
13,816
707
QC O
12
13
By type: Trade payables
Advance receipts and other liabilities
775
1,550
128
637
4
400
997
544
90
-31
-28
-290
-1,197
-407
-278
441
n.a.
n.a.
5,576
8,947
14
15
16
By area: Industrial countries4 2
Members of OPEC
Other
1 061
979
693
427
192
531
167
994
423
835
1749
461
34
32
124
889
296
275
426
-537
641
545
-330
52
na
n.a.
na
8,176
2,687
3660
See footnotes on page 54.
46
SURVEY OF CURRENT BUSINESS
March 1986
Table 8.—Claims on Foreigners Reported by U.S. Banks
[Millions of dollars]
(Credits +; decrease in U.S. assets. Debits — ; increase in U.S. assets,)
1984
1 Total (table 1, line 47)
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Payable in dollars... .
By borrower:
Claims on:
own foreign offices
unaffiliated foreign banks
foreign public borrowers *
other private foreigners
By bank ownership: 2
U.S.-owned banks' claims on:
own foreign offices
unaffiliated foreign banks
other foreigners
Foreign-owned banks' claims on:
own foreign offices
unaffiliated foreign banks
other foreigners.
.
. . .
.
.
.
.
By area:
Industrial countries ^
Western Europe .
Of which United Kingdom
Canada
Japan
Other
27
Caribbean banking centers 4
. .
Other areas
Of which Members of OPEC, included below 5 . . . . . . .
Latin America
Asia.
Africa 6
Other
*•
.
,
10981
7565
-2784
I
II
III
IV
1,110 —20,186
17,725
4,933
I
135
20339
15172
6266
736
2255 — 19,686
14818
4,799
2,068
452
standing
Dec. 31,
1985
III r
IV
4,095
-1,521
-8,635
309
2593
10585
418,257
3,476
-9,392
402,169
176,190
115,742
60,417
49,820
II
1,064
447,812
- 10,104 -20,122
8,896
63
-3,803
1,190
6,432
7,252
-2,975
1730
-234
3,734
-9,514
—7,743
-1,546
-883
6,826
7374
-269
887
-4,441
1,298
-1,754
2,694
-1,731
2,038
-204
1,965
-5,042
4,107
571
1,428
3,320 -16,669
2,306
445
1,779
-956
3,192
667
-8,040
11,582
4,179
—5,214
2,247
3515
-4,155
-2,777
2838
7294
5,642
86
5,001
642
499
246
3,894
461
-2,602
1,858
1973
1,200
2,404
-276
-6,884
3,426
2,021
96,536
53,722
62,329
-3,028 -12,082
5691 —2686
2,537
4,263
2,239
517
— 15
-5,359
4966
409
-468
1732
704
560
1940
1,439
-1,977
1856
1,300
-2,440
2249
26
2,120
-1,959
-13
-9,785
-1,120
2,950
79,654
62,020
47,908
3569
4,781
1803
653
354
1467
1332
1373
-883
-1,193
16,088
2477
1987
—410
2259
138
490
1639
1,901
86
2294
—479
-262
1 562
2259
-690
884
685
697
153
18
201
624
807
135
2553
2607
1,117
2417
1307
-54
1333
1621
1,196
102
323
-288
601
730
-492
771
533
129
4404
4207
936
3577
-306
197
4114
-4,030
-444
3763
177
-84
1,950
2,454
86
3,251
-883
504
29,555
28,723
3,227
19,285
6,211
832
6191
—4423
-6,179
269
538
-961
12366
—9483
-7,075
1527
4851
441
2639
—2222
-1,885
752
590
-255
12145
10343
-6,676
873
601
-328
6761
6528
2,461
1 173
488
-452
1832
1,614
-79
183
-39
74
5875
-4,128
-2,718
-2,534
449
338
6,610
3,379
2,079
1,455
1,506
270
-7,423
-6,868
-3,337
804
-1,557
198
-5,678
-1,866
-3,099
1,802
-5,249
-365
193,808
132,898
83,532
20,139
35,472
5,299
700
70
947
4,814
7,442
4,275
2,489
-1,558
6,111
' 7,112
108,507
-209
20
331
698
-104
262
4,155
1,093
1,785
2,714
205
-549
145,497
19,946
99,687
38,029
3,865
3,916
1613
408
-927
745
279
220
Memoranda:
1 International banking facilities' (IBF's) own claims, payable in dollars (lines 1-13 -15,071
above).
By borrower:
Claims on:
2
own foreign offices
7454
3
unaffiliated foreign banks
5140
4
foreign public borrowers
4485
5
all other foreigners
2008
By bank ownership: 2
6
U S -owned IBF's
4 504
7
Foreign-owned IBF's
10567
8 Banks' dollar acceptances payable by foreigners
1 140
See footnotes on page 54.
—5,926
—7412
-7,076
5,754
92
Payable in foreign currencies
Banks' domestic customers' claims
Payable in dollars
Deposits
.
...
Negotiable and readily transferable instruments
Outstanding collections and other
Payable in foreign currencies . . .
21
22
23
24
25
26
28
29
30
31
32
33
— 8,504
By type:
Banks' own claims
1985"
Amounts
19!?5
19 84
Line
6510
1,032
4,591
1832
358
271
-8,378
3227
400
-686
2932
208
183
3522
1324
210
2976
143
193
-2490
-584
357
2,175
-161
511
3521
307
1,835
1,332
31
323
-957
-388
640
-1,516
226
-307
-5,135 -11,865
3,845
-1,916
-6,592
3,423
-506
-4,703
192,782
582
68
-808
1386
89
85
—9309
960
20
1871
3002
557
894
682
-5,980
5143
-1,815
1073
3,047
883
-323
238
-1,519
323
-1,453
1379
-3,516
3342
-720
986
1,031
2,119
268
5
796
-447
-711
-144
-7,620
710
1,183
1,024
52,069
69,850
44,355
26,508
602
8980
8,727
727
4408
756
5433
6432
-5,406
2667
1 178
3,829
1011
-905
1,961
1556
-5,036
1,463
3817
-394
3,798
-632
126
1,182
-1027
3,676
2,284
73,106
119,676
28,232
SURVEY OF CURRENT BUSINESS
March 1986
47
Table 9.—Foreign Official Assets and Other Foreign Assets in the United States Reported by U.S. Banks
[Millions of dollars]
1985
1984
Line
(Credits +; increase in foreign assets. Debits — ; decrease in foreign assets.)
Al Foreign official assets in the United States (table 1 line 49)
2
3
4
5
6
7
8
9
10
11
12
13
14
By type:
U.S. Treasury securities (table 1, line 51)
Bills and certificates
Bonds and notes, marketable
.
....
.
Bonds and notes nonmarketable
Other U.S. Government securities (table 1 line 52)
Other U.S. Government liabilities (table 1, line 53)
U.S. liabilities reported by U.S. banks, not included elsewhere (table 1, line
54).
Banks' liabilities for own account payable in dollars 1
Demand deposits
Time deposits 1 2
. . ..
Other liabilities
Banks' custody liabilities payable in dollars l 3
Other foreign official assets (table 1, line 55)
1984
1985 P
I
II
-224
III
IV
I
II
III r
IV P
Amounts
outstanding
Dec. 31,
1985
686
7,119
11,204
8,465
2,435
-1,604
196,916
5,814
5,349
465
-67"
-197
2,052
-7,219
-5,291
-1,428
-500
-307
462
-3,099
8,722
3,904
5,618
-800
136
575
-134
-90
-2,096
2,956
-950
24
-95
2,974
-2,023
-3,242
1,219
146"
555
328
575
650
-425
-800
85
-139
430
-182"
130
631
134,750
53,252
77,948
3,550
7,072
14,869
26,520
-2,308
100
-590
1818
161
600
-525
-29
789
1285
853
-979
213
60
349
622
643
487
2,684
146
1,525
1,305
-632
483
2262
100
905
1,457
-837
-117
959
-31
532
458
-1,093
834
2,467
260
97
2,304
507
-378
473
-76
1,954
-1,405
158
-160
20,734
2,075
10,907
7,752
5,786
13,705
61,520
12,744
27,455
-67
13,982
15,978
5,301
13,979
26,262
431,886
3,424
-1,908
2786
4,690
5,634
506
-1,450
167
453
663
-610
6725
8,365
-2,250
329
148
372
275
-661
1,036
650
3
233
-2,147
-274
296
-570
-362
15
2,073
-2,420
1,025
-2,549
1,637
253
1,484
-100
-1,265
-1,489
54,114
By area: (see text table B).
Bl Other foreign assets in the United States (table 1, lines 58 and 61)
By type:
U.S. Treasury securities (line 58)
22,440
20,910
1,396
6,485
5,058
9,501
2,633
5,106
7,452
5,719
77,780
3
4
5
By security:
Bills and certificates
Marketable bonds and notes
Nonmarketable bonds and notes 4
1,536
20,904
-330
21,240
1,658
262
2,310
4,175
238
4,820
-2,670
12,171
1,004
1,629
-2,396
7,502
2,434
5,018
-1,372
7,091
15,533
62,247
6
7
8
By holder:
Foreign banks
Other private foreigners
International financial institutions 5
749
16,259
5,432
-1,372
20,948
1,334
582
-94
908
2,092
3,468
925
-618
5,344
332
-1,307
7,541
3,267
-325
2,766
192
-857
6,597
-634
208
7,531
-287
-398
4,054
2,063
9,554
55,884
12,342
31,674
30,315
28,033
40,610
37,943
30,317
11,348
10,827
10,229
20,970
19,874
19,232
-5,125
5,706
-5,474
4,481
5,320
4,046
13,345
12,041
11,571
195
939
1,199
6,527
5,752
3,854
20,543
19,211
16,091
354,106
334,380
319,212
5,539
2
9
10
11
U.S. liabilities reported by
U.S banks (line 61)
Banks' own liabilities l
Payable in dollars
13
14
15
By account:
Liabilities to own foreign offices
Liabilities to unaffiliated foreigners:
demand deposits
time deposits 1
other liabilities 2
16
17
18
19
By holder:
Liabilities to:
own foreign offices
unaffiliated foreign banks
other privaite foreigners
international financial institutions 5
12
20
21
22
23
24
25
26
By bank ownership: 6
U.S.-owned banks' liabilities to:
own foreign offices
unaffiliated foreign banks
other private foreigners and international financial institutions 5 ...
Foreign-owned banks' liabilities to:
own foreign offices
unaffiliated foreign banks
other private foreigners and international financial institutions 5 ...
Payable in foreign currencies
Banks' custody liabilities, payable in dollars 1 3
Of which negotiable and readily transferable instruments
27
28
29
30
31
32
33
34
35
36
37
38
39
By area:
Industrial countries 7
Western Europe
Canada
Other
Caribbean banking centers 8
Other areas ...
Of which Members of OPEC, included below9
Latin America
Asia
Africa 10
Other
.
.
Memoranda:
1 International banking facilities' (IBF's) own liabilities, payable in dollars (in
lines A9, and Bll above).
2
3
4
5
By holder:
Liabilities to:
own foreign offices
.
unaffiliated foreign banks
foreign official agencies
other private foreigners and international financial institutions 5 ...
6
7
By bank ownership: 6
US -owned IBF's
Foreign-owned IBF's
8 Negotiable certificates of deposit held for foreigners 1 (in lines A13 and B27
above).
See footnotes on page 54.
11,127 -10,696
1,923
4,064
756
1,955
14,950
172,431
-508
6,341
-611
2,478
3212
2,857
-1,584
8,606
485
1,340
-3,562
267
1,244
-1,014
1,669
296
-316
1,161
19,072
105,951
21,758
11,127 -10,696
2,963
4,972
1,875
4,259
384
-1,126
1,923
2,230
1,554
1,661
4,064
5,727
1,091
689
756
3,659
109
1,595
1,955
832
1,719
652
14,950
1,831
238
928
172,431
79,456
64,978
2,347
7,089
2,274
1,001
-9,771
635
1,727
-860
612
-489
7,265
1,586
883
-2,132
-881
2,257
2,256
1,108
440
325
636
-193
84,855
19,216
41,466
4,038
2,698
2,132
-925
2,328
532
2,783
1,618
382
-3,201
4,141
897
2,888
-2,778
-553
-301
1,940
627
14,625
1,195
-497
87,576
60,240
25,859
470
2,138
1,898
3,120
15,168
1,304
286
-744
-826
775
504
1,332
585
19,726
12,253
13,593
1,740
1,425
10,428
-1,946
2,332
424
800
2,239
-383
324
13,598
6,464
96
7,038
7,806
4,858
611
3,086
-157
904
1,025
218,097
151,461
19,465
47,171
117,613
96,176
17,773
47,886
28,321
2,935
17,034
-7,862
-470
9,800
181,760
1,744
6,525
-803
1,476
-4,026
5033
830
367
-54
168
177
-425
9,069
976
1,492
-1,737
83,472
61,721
9,441
27,126
3,795
5,147
5054
-2,808
-294
-176
1,304
8,496
67,577
114,183
617
9,845
21,725
3,185
2,086
17,530
2,878
1,296
3,714
3,582
-181
7,289
-64
5,539
14,625
10,857
-2,988
21,725
4,731
3,157
704
3,185
4,460
3,169
-585
3,060
2,552
3,012
7,714
233
3,387
6,602
-969
773
2,479
12,073
4,857
14,011
4,498
474
-3,417
5,429
1,811
2,282
7,626
598
642
1,274
1,359
353
2,667
549
521
393
1,096
671
581
638
-839
1349
33,451
22,586
3,314
7,551
6,081
14,582
2,347
6,712
4,486
329
3,055
37,049
11,071
776
25,202
10,393
14,078
2,325
5,360
5,491
1,058
2,169
9,390
6,018
1,421
1,951
2,302
1,052
123
1,460
1016
164
444
16,248
13,586
1,980
682
6,190
5,017
2,097
1,965
2,781
283
-12
-600
-3,229
356
2,273
-3,526
4,059
-477
2,320
1,250
180
669
8,413
6,211
-443
2,645
1,115
4,454
604
967
1,471
62
1,954
9,073
3,697
-37
5,413
3,898
3,007
1,084
844
1,117
212
834
785
-830
-708
2,323
635
3,881
206
630
2,292
325
634
14,791
10,410
9,485
7,550
-3,389
1,145
8,942
179
11,480
1,246
1,886
6,733
2,300
1,696
-319
4,552
4,363
-424
994
1,125
4,640
587
1,198
-7,926
3,537
-232
1,232
2,428
-1,060
1,315
-1,538
-1,252
16,043
-249
10,659
2,507
6,978
2,825
4,725
-5,657
2,268
-927
2,072
-632
-704
1,304
102
129
297
7,112
696
-232
-573
-1,064
-733
548
48
SURVEY OF CURRENT BUSINESS
March 1986
Table 10.—U.S. International
[Millions;
European Communities
(10) "
Western Europe
(Credits +; debits — ) l
Line
1 Exports of goods and services 2
1984
1985
1985
p
Ir
II r
III r
1985 P
1984
IV
98,736
107,227
24,494
26,812
26,415
29,505
78,389
86,089
56,866
2,924
55,997
2,303
14,920
621
14,033
501
12,606
698
14,438
484
46,379
1,704
45,171
1,536
Travel
Passenger fares .
Other transportation
2,227
1,125
4,266
2,277
1,121
4,340
506
257
1,020
592
292
1,060
667
334
1,134
512
238
1,126
1,708
910
3,161
1,742
900
3,214
7
8
9
10
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners
Other private services
U.S. Government miscellaneous services
3,414
619
1,578
152
3,602
674
1,530
193
780
164
365
62
905
168
378
24
786
170
381
55
1,132
172
406
53
2,978
525
1,187
111
3,109
572
1,182
158
11
12
13
Receipts of income on U.S. assets abroad:
Direct investment....
Other private receipts
U.S. Government receipts
8,886
15,753
926
20,989
13,270
931
2,209
3,379
211
5,279
3,359
223
6,193
3,148
245
7,308
3,385
253
6,158
13,114
453
17,139
10,908
458
2
3
Merchandise, adjusted, excluding military 3 .
Transfers under U.S. military agency sales contracts
4
5
6
..
14 Transfers of goods and services under U.S. military grant programs, net
15 Imports of goods and services
.
16
17
Merchandise, adjusted excluding military 3
Direct defense expenditures
18
19
20
Travel
Passenger fares
Other transportation
21
22
23
24
Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners ...:
Private payments for other services
U.S. Government payments for miscellaneous services
25
26
27
Payments of income on foreign assets in the United States:
Direct investment
Other private payments
U.S. Government payments
. ..
98
34
4
8
9
13
2
3
-127,105
-134,084
-30,170
-34,649
-34,186
-35,079
101,148
107,644
-72,054
-7,155
-77,234
-7,174
17,390
-1,802
-19,172
-1,755
-19,119
-1,805
-21,553
-1,812
-57,774
-6,595
-62,387
-6,734
-5,035
-4,827
4907
-5,834
-5,484
-5,316
-685
-1,149
-1,238
-1,827
-1,908
-1,352
-2,305
-1,397
-1,372
-1,017
1030
-1,354
3820
-3,573
-3,508
4594
-4,126
-3,780
373
-245
906
-513
318
-267
-869
-584
106
-65
-202
169
-87
-67
-209
-143
-89
-68
239
-138
-36
-68
219
-134
-259
209
-696
338
-175
229
-717
-384
-7,371
-14,660
9061
-7,019
-14,879
-9,105
-1,601
-3,409
-2,352
-2,193
-3,674
-2,264
-1,614
-3,747
-2,294
-1,611
4,049
-2,195
6,633
-11,255
-6,490
6,162
-11,833
6,522
-98
34
4
-8
29 Unilateral transfers (excluding military grants of goods and services) net
-450
745
-221
193
30
31
32
-421
673
644
-546
678
479
-191
168
137
14,254
-37,385
533
2734
-2,734
28 U.S. military grants of goods and services, net.
U.S. Government grants (excluding military grants of goods and services)
U.S. Government pensions and other transfers ..
Private remittances and other transfers
33 U.S. assets abroad, net (increase/capital outflow ( — ))
34
35
36
37
38
U.S. official reserve assets, net 4
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
39
40
41
42
U.S. Government assets, other than official reserve assets net
U.S. credits and other long-term assets
Repayments on U.S. loans 5
U.S. foreign currency holdings and U.S. short-term assets, net
43
44
45
46
47
U.S. private assets, net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U S nonbanking concerns
U S claims reported by U S banks not included elsewhere
48 Foreign assets in the United States, net (increase/capital inflow ( + ))
49
50
51
52
53
54
55
Foreign official assets in the United States net
U.S. Government securities6
U.S. Treasury
securities
Other7
Other U.S. Government liabilities 8
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreign official assets 9
56
57
58
59
60
61
Other foreign assets in the United States net
Direct investment
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
U.S. liabilities reported by U.S. banks, not included elsewhere
-2
3
-103
-229
213
52
-132
-168
107
54
-170
121
-169
-173
113
-25
525
763
-20
528
600
-7,308
-3,291
-15,544
-11,241
-12,023
-33,844
668
-73
-147
-1,846
527
-1,846
-9
-13
-527
-682
682
-668
-73
-147
33
-1,049
984
98
321
-791
1,145
-33
28
-189
284
-67
-50
-261
202
9
187
-159
339
6
156
182
319
19
324
-152
408
68
326
-112
459
-22
-13,755
1559
-8,615
949
4 530
-34,971
15929
-9,554
n.a.
9377
-6,668
1 153
-1,769
363
4 109
-3,169
-3,152
-3,521
77
3,428
-15,584
-5,962
-2,239
-551
-6,831
-9,551
-5,662
2,024
n.a.
-1,865
-11,819
527
-6,883
916
5325
-33,488
13,629
-10,338
n.a.
9,205
48,831
68,925
6,447
15,145
21,506
25,827
45,874
58,082
2,374
4,707
-5,932
6,686
-244
(14)
(14)
(14)
(14)
(14)
(14)
4,197
(15)
(15)
(15)
(15)
(15)
(15)
(15)
333
(14)
(14)
121
(14)
(14)
84
(14)
(14)
(14)
(14)
(14)
(14)
-111
(15)
(15)
-4
(15)
(15)
64,218
12,361
12,380
1,683
8,459
4,677
17,309
4,712
41,365
n.a.
8,411
-1,400
4,949
-321
9,658
1,160
26,071
1,290
(14)
18,347
n.a.
(14)
(14)
(14)
-5,757
-3,939
6,757
-3,823
1,911
-15,188
-28,370
28398
-28,820
21237
-26,857
-27,056
-27,602
-2,470
-5,675
-5,706
5896
5139
-7,837
-7,898
-8,030
-6,513
-7,771
-7,819
-7,874
-533
(14)
(14)
(14)
-212
(14)
(14)
46,457
13,809
(14)
8,318
1,799
(14)
(14)
(14)
(14)
(14)
(14)
(14)
(14)
(14)
(14)
(14)
(14)
-4
(14)
(14)
(14)
(14)
132
(15)
(15)
(15)
12,706
8,956
(15)
(15)
9,016
1,412
15
22,851
37,334
n.a.
15
12,495
-8,784
-11,305
-2,736
7,115
-5,574
-5,633
-5,802
-11,395
-22,760
-22,521
-22,546
-17,216
-21,555
21483
-21,503
62 Allocations of special drawing rights
63 Statistical discrepancy, and transfers of funds between foreign areas, net (sum of
above items with sign reversed).
64
65
66
67
Memoranda:
Balance on merchandise trade (lines 2 and 16)10 ...
Balance on goods and services (lines 1 and 15)
Balance on goods, services, and remittances (lines
65 31 and 32)
Balance on current account (lines 65 and 29) 10
See footnotes on page 54.
49
SURVEY OF CURRENT BUSINESS
March 1986
Transactions, by Area
of dollars]
European Communities (10)1 1
I'
II'
19,720
21,610
21,195
1985
1985p
1984
IV P
III'
European Communities (6)12
United Kingdom
1985
I'
23,563
27,669
7,091
28,903
7,658
IV »
6,794
7,360
45,658
Line
1985
1985p
1984
III'
II'
51,747
Ir
II'
11,362
12,562
13,064
14,759
1
8,263
216
2
3
IV P
III'
12,183
448
11,492
361
10,087
407
11,409
320
12,201
475
11,102
418
3,291
105
2,817
154
2,424
85
2,570
74
31,818
1,069
31,594
925
8,262
268
7,972
171
7,097
270
385
210
759
443
241
772
521
259
851
393
190
833
445
402
764
438
357
739
109
88
168
118
111
174
115
90
203
96
68
195
1,160
445
1,811
1,191
475
1,859
251
111
430
294
116
461
380
157
486
266
91
482
4
5
6
678
139
289
40
794
142
292
20
687
144
299
49
949
146
302
49
813
129
557
57
882
135
522
70
197
33
131
30
206
34
129
9
225
34
133
29
255
34
129
1
1,984
382
555
48
2,080
420
576
83
441
102
138
8
548
105
142
9
430
106
144
17
662
107
152
48
7
8
9
10
1,675
2,825
89
4,210
2,733
110
5,169
2,619
104
6,086
2,731
155
3,062
8,677
87
6,967
7,187
87
1,070
1,862
8
2,103
1,796
8
1,726
1,722
9
2,068
1,808
63
2,072
4,026
288
8,876
3,373
295
408
878
66
1,811
852
81
3,084
814
80
3,573
830
68
11
12
13
2
1
(*)
1
(*)
—1
(*)
(*)
-23,925
-27,624
-27,622
-28,472
-31,580
-32,575
-7,142
-8,509
-8,560
-8,363
-64,755
-69,849
-15,633
-17,870
-17,616
-18,730
15
-13,915
-1,668
-15,501
-1,640
-15,527
-1,713
-17,444
-1,712
-14,418
-920
-14,406
-803
-2,962
-267
-3,632
-201
-3,775
-173
-4,037
-162
-40,654
-5,374
-45,045
-5,681
-10,274
-1,355
-11,200
-1,386
-10,993
-1,466
-12,578
-1,475
16
17
-517
-883
-880
-1,420
-1,375
-942
-1,795
-1,026
-988
-862
-842
-970
-1,234
-1,234
-865
-1,696
-1,609
-878
-188
-332
-193
-503
-552
-214
-650
-422
-241
-355
-303
-231
-2,213
-2,026
-1,908
-2,478
-2,176
-2,085
-302
-463
-477
-768
-748
-539
-960
-517
-530
-448
-448
-540
18
19
20
-77
-56
-166
-95
-47
-57
-171
-101
-54
-58
-200
-101
3
-59
-180
-87
-157
-92
-269
-47
-44
-101
-283
-69
-19
-25
-66
-24
-5
-25
-70
-21
-14
-26
-73
-14
-6
-26
-75
-10
-110
-115
-371
-246
-113
-127
-375
-273
-50
-31
-86
-60
-34
-32
-87
-69
-38
-32
-112
-76
9
-32
-90
-68
21
22
23
24
-1,336
-2,645
-1,688
-1,958
-2,815
-1,597
-1,495
-3,027
-1,639
-1,374
-3,347
-1,598
-2,619
-8,038
-1,687
-2,386
-8,377
-1,923
-697
-1,855
-516
-961
-1,825
-501
-464
-2,248
-462
-265
-2,449
-444
-3,968
-3,118
-4,652
-3,689
-3,358
-4,448
-635
-765
-1,136
-985
-965
-1,059
-999
-754
-1,139
-1,071
-874
-1,114
25
26
27
-2
-1
(*)
-1
(*)
1
(*)
(*)
30
1
16
5
219
231
46
55
73
57
167
-25
22
-17
-19
29
-6
-131
167
-3
-131
136
7
-132
154
4
-134
144
-78
297
-82
313
-20
67
-21
75
-21
94
-20
77
—25
-342
535
—20
-340
335
—6
-84
112
—3
-85
71
7
-84
72
-11
_4
-87
80
30
31
32
-7,935
-2,409
-13,452
-10,048
-11,536
-19,616
-5,033
-1,462
-2,774
-515
-5,853
-3,991
33
-49
115
18
16
I
-5,429
i
-13,132
66
-7,692
I
-125
-682
—527
663
666
—65
—48
116
-682
-66
-49
115
— 18
-16
_1
—I
_1
—527
—663
—666
—65
-48
116
34
35
36
37
38
16
-23
101
-62
2
64
56
10
142
—7
135
15
166
-19
168
16
131
-28
162
-2
119
—37
158
-2
22
7
—2
13
-4
111
-13
33
107
30
110
1
152
33
122
63
156
22
(*)
-21
—35
13
1
i'76
-19
46
-59
26
6
81
26
22
8
39
40
41
42
-7,269
- 1,503
-1,831
170
-4,106
-2,345
-2,227
-3,545
175
3,252
-13,545
-5,240
-2,340
-661
-5,304
-10,329
-4,659
-2,623
n.a.
-3,047
-11,667
-1,213
-5,304
1,029
-6,179
-19,717
-6,106
-6,035
n.a.
-7,075
-5,038
-983
-1,296
-42
-2,718
-1,441
-1,729
-1,962
171
2,079
-7,698
-1,887
-1,845
-630
-3,337
-5,540
-1,509
-933
n.a.
-3,099
250
1,358
-1,790
-110
792
-12,625
-6,457
-4,921
n.a.
-1,366
-2,095
-340
-557
118
-1,316
-482
-234
-1,475
11
1,215
-5,911
-3,048
-1,162
-10
-1,691
-4,137
-2,836
-1,728
n.a.
426
43
44
45
46
47
5,345
12,022
19,491
21,225
28,612
45,549
11,083
6,131
9,861
18,474
17,143
11,639
-5,957
5,583
9,337
2,675
48
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
-3
-71
52
18
(15)
(15)
(15)
(15)
(15)
(15)
(
'
)
(15)
(15)
(15)
(15)
15
(15)
(15)
(15)
876
3,754
(15)
3,951
(15)
7,985
-1,281
-2,231
15
4,816
-492
4,014
(15)
(15)
(15)
(15)
(15)
15
8,806
1,074
5,608
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
27
34
-68
91
-32
-32
(15)
(15)
(15)
(15)
-30
-99
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(IS)
(15)
(15)
(15)
(15)
(75)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
375
6,228
4,462
930
1,879
(15)
2,042
-389
6,337
4,104
(15)
-238
(15)
(15)
(15)
(15)
(15)
(15)
(15)
1,870
(15)
15
7,870
1,048
13,465
33,997
n.a.
7,513
15
18
8,806
-847
2,160
4,323
-334
332
18
18
7,833
731
-836
13,035
n.a.
5,857
18
18
1,123
308
9,474
18
3,285
n.a.
4,539
18
-825
-419
-4,443
(15)
(15)
(15)
(15)
(15)
(15)
15,727
n.a.
5,104
28
(*)
(15)
15
14
(*)
18
467
-171
3,418
18
(15)
(15)
(15)
(15)
-12
12
(15)
(15)
(15)
(15)
(15)
1,898
574
(15)
(15)
981
333
6,137
18
49
50
51
52
53
54
55
2,662
n.a.
-573
56
57
58
59
60
61
62
6,765
-3,600
372
-6,273
-13,384
-22,492
-6,045
-3,873
-475
-12,099
1,913
19,620
12,979
256
1,087
5,299
63
-1,732
-4,206
-4,169
-4,175
-4,009
-6,014
-6,010
-6,013
-5,440
-6,427
-6,405
-6,411
-6,035
-4,909
-4,899
-4,904
-2,217
-3,911
-3,692
-3,692
-3,304
-3,672
-3,441
-3,441
329
-51
-5
-5
-815
-851
-796
-796
-1,351
-1,767
-1,694
-1,694
-1,467
-1,003
-946
-946
-8,836
-19,097
-18,905
-18,930
-13,451
-18,101
-18,107
-18,127
-2,012
-4,271
-4,243
-4,249
-3,228
-5,308
-5,321
-5,324
-3,896
-4,552
-4,564
-4,571
-4,315
-3,971
-3,978
-3,983
64
65
66
67
50
SURVEY OF CURRENT BUSINESS
March 1986
Table 10.—U.S. International
[Millions
Canada
Eastern Europe
(Credits +; debits -) 1
Line
1 Exports of goods and services 2
2
3
Merchandise, adjusted, excluding military 3 ..
Transfers under U.S. military agency sales contracts.
4
5
6
Travel
Passenger fares
Other transportation
7
8
9
10
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners
Other private services .
U.S. Government miscellaneous services
11
12
13
Receipts of income on U.S. assets abroad:
Direct investment
Other private receipts
U.S. Government receipts ...
1985
1984
. .. .
lr
III r
II r
1985 P
1984
IV P
4,854
3,734
1,304
961
511
958
71,819
71,005
4,290
3,252
1,182
856
350
864
53,067
119
54,053
113
3,116
3,037
194
94
41
17
16
20
939
921
1,189
79
813
52
4,307
6,387
53
17
74
7
17
83
11
4
20
9
4
21
1
4
21
1
4
21
1
1,162
72
818
30
232
40
166
112
44
4
47
16
40
79
35
13
5,500
6,949
49
-2,564
-2,180
-566
-2,217
-2
-1,830
_2
.
.
14 Transfers of goods and services under U.S. military grant programs net
15 Imports of goods and services
16
17
Merchandise, adjusted, excluding military 3
Direct defense expenditures
18
19
20
Travel
Passenger fares
Other transportation
21
22
23
24
Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners
Private payments for other services
U.S Government payments for miscellaneous services
25
26
27
Payments of income on foreign assets in the United States:
Direct investment
Other private payments
U S. Government payments
..
28 U.S. military grants of goods and services, net
34
35
36
37
38
U.S. official reserve assets, net * .
. ..
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
39
40
41
42
U.S. Government assets, other than official reserve assets net
U.S. credits and other long-term
assets
Repayments on U.S. loans 5 . .
U.S. foreign currency holdings and U.S. short-term assets net ...
43
44
45
46
47
U.S. private assets, net
Direct investment
Foreign securities
U S claims on unaffiliated foreigners reported by U S nonbanking concerns
U.S. claims reported by U.S. banks, not included elsewhere
-80
99
-8
-27
-56
-8
-2,416
-2,661
172
155
-46
-40
-33
37
-659
-708
-395
13
-447
-107
(*)
-6
-8
(*)
-6
11
(*)
-7
8
-33
29
-1
-8
-7
(*)
-7
1
-7
1
-511
2,340
-395
-530
1,969
-503
166
151
32
-38
-40
-41
-173
-231
-59
-23
-84
-51
-21
-78
-8
6
-19
-15
-6
-17
-16
-4
-20
-13
-6
22
-258
85
-269
39
161
358
g
-5
145
225
-747
1,219
146
-32
105
-218
43
-60
90
13
9
-6
11
3
-7
-43
34
2
8
10
2
33
-11
34
9
-100
-158
60
-2
90
7
94
3
.
,
306
315
-16
2
137
192
(*)
1
305
n.a.
311
19
-35
25
27
10
127
-647
-2,811
413
2,020
-269
1,129
1,536
1,796
n.a.
1,527
200
6,639
1,348
(15)
(15)
(15)
-925
48 Foreign assets in the United States, net (increase/ capital inflow ( + ))
Other foreign assets in the United States, net . . . .
Direct investment
U.S. Treasury securities
-71,180
-269
(*)
-6
-12
33 U.S. assets abroad, net (increase/capital outflow ( — ))
56
57
58
59
60
61
78,781
-69,229
228
-1
-25
-38
..
Foreign official assets in the United States, net
U S. Government securities6
U.S. Treasury
securities
Other7
. ...
Other U S Government liabilities 8
U.S. liabilities reported by U.S.
banks, not included elsewhere
9
Other foreign official assets
76,736
-475
-1
. . .
U.S. Government pensions and other transfers
Private remittances and other transfers
49
50
51
52
53
54
55
-543
-394
-1
1
-19
-40
29 Unilateral transfers (excluding military grants of goods and services) net
30
31
32
-508
-476
-1
-434
-12
-435
-78
.
.
-565
485
(*)
-125
144
28
41
(15)
(15)
. < >
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(*)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(*)
(15)
(15)
1
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
15
...
n.a.
192
-18
.
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns
U.S. liabilities reported by U.S. banks, not included elsewhere
1
14
35
-39
(15)
(15)
(15)
2
n.a.
119
33
is _6
-2,267
-1,905
-727
2,073
2,290
2,183
2,124
1,422
1,554
1,455
1,404
15
(15)
15
-8
51
15
15
-125
(15)
15
n.a.
109
(14)
(14)
(14)
-14
181
(14)
(14)
(14)
(14)
(14)
(74)
7,564
2,401
1,529
817
( 14 )
(14)
(14)
1,602
248
554
n.a.
(14)
(14)
62 Allocations of special drawing rights
63 Statistical discrepancy, and transfers of funds between foreign areas, net (sum of
above items with sign reversed).
64
65
66
67
Memoranda:
Balance on merchandise trade (lines 2 and 16)10
Balance on goods and services (lines 1 and 15)
Balance on goods services and remittances (lines
65 31 and 32)
Balance on current account (lines 65 and 29) 10
See footnotes on page 54.
...
697
739
715
707
17
-395
380
397
374
359
^
-44
3
-21
36
-799
389
415
387
375
-802
-16,162
-4,918
5090
-5,090
5,439
-17,127
-7,776
8006
-8,006
SURVEY OF CURRENT BUSINESS
March 1986
51
Transactions, by Area—Continued
of dollars]
Canada
Japan
Latin American Republics and Other Western Hemisphere
1985
1985
1985 "
1984
Ir
II r
17,043
19,722
17,060
17,179
64,050
13,407
16
15,195
25
12,803
32
12,648
40
29,767
209
909
797
776
555
222
243
221
235
3,391
472
1,713
293
19
206
1
285
20
200
25
286
20
201
12
325
20
207
13
309
1,642
19
1,310
1,614
8
1,129
1,561
19
-18,939
-20,641
-17,353
-123
IIIr
Line
1985
1985p
1984
lr
IIIr
II r
Ir
II r
62,779
15,701
15,134
15,822
16,123
33,579
32,702
8,249
7,907
8,120
8,426
1
30,441
488
7,529
97
7,384
126
7,505
169
8,023
96
23,240
494
22,146
406
5,838
118
5,413
86
5,279
127
5,616
75
2
3
3,519
455
1,832
876
99
396
876
114
410
885
153
514
882
89
512
1,287
768
2,061
1,404
793
2,127
382
187
529
340
276
497
427
160
563
255
170
539
4
5
6
513
87
1,258
85
529
91
1,473
107
138
22
377
22
104
23
373
31
104
23
352
27
182
23
371
27
394
524
257
13
431
550
274
15
77
136
67
5
118
137
68
2
112
138
70
5
123
139
69
3
7
8
9
10
1,559
1,571
7
867
25,292
396
2,752
20,643
449
676
5,376
92
416
5,201
76
734
5,169
187
927
4,896
94
761
3,601
180
1,353
3,019
184
59
802
48
187
745
37
469
723
48
638
749
51
11
12
13
21
3
1
1
1
1
-1
-1
-19,254
-19,947
-75,470
-70,796
-17,862
-17,285
-17,443
-18,206
-71,227
-77,899
-17,760
-18,505
-20,128
-21,506
15
-18,771
-44
-16,678
-52
-18,378
-50
-48,366
-397
-46,003
-300
-11,306
-66
-10,994
-72
-11,486
-85
-12,217
-77
-60,211
-1,498
-65,536
-1,481
-14,910
-373
-15,580
-374
-16,930
-359
-18,116
-375
16
17
IV
IIIr
IV P
IV P
1
14
-273
-640
-1,319
-429
-150
-193
-182
-184
-5,969
-571
-1,780
-5,863
620
-1,918
-1,676
150
-437
-1,459
197
-477
-1,354
177
-514
-1,374
96
-491
-399
268
-2,470
-455
308
-2,744
-83
63
-635
-156
-111
-665
-134
-85
-727
-82
-49
717
18
19
20
-128
-3
-129
-8
-88
-3
-105
-26
-92
-3
-106
-46
-87
-3
-107
-27
53
-9
-1,648
-332
22
-9
-1,818
-348
-13
-2
-458
-97
7
-2
-457
-78
14
-2
-437
-100
14
-2
-466
-72
-9
-53
-114
-26
239
-67
-123
-41
35
-16
-29
-11
49
-17
-31
-7
77
-17
-31
-16
78
-17
-32
-6
21
22
23
24
-111
-545
-116
-155
-495
-122
-167
-477
-131
-97
-451
-134
-351
-15,722
-379
-127
-12,953
-862
-97
-3,406
-155
-78
-3,289
-189
65
-3,130
-239
-18
-3,128
-279
-1,928
-1,536
-2,715
-1,749
-1,622
-4,013
-465
-385
-825
-317
-395
-902
-447
-378
-1,081
-521
-464
-1,205
25
26
27
21
Q
-1
-1
-1
-1
1
1
-63
-2,334
-2,805
-682
-802
-675
-647
-64
-52
-21
-2
-12
1 649
-316
-840
409
-78
-195
517
-79
-205
372
-80
-224
351
-79
-217
6,143
-547
3,881
-143
143
-59
-57
-53
-67
8
-68
11
-69
16
-66
4
-1,330
-304
-700
-1,369
793
971
824
3,579
3,070
490
500
43
36
49
-6
17
19
-5
7
12
-10
-1,413
1,748
-414
-213
-2,534
757
-807
-231
340
1,455
976
1,182
-744
-265
804
858
-431
916
198
-158
-7
(14)
(14)
(14)
(14)
(14)
(14)
(14)
11
(14)
(14)
660
743
(14)
257
-303
-15
(14)
(14)
-272
615
(14)
26
-205
(14)
14
(
)
3
(14)
(14)
500
-6,405
28
1
-17
29
30
31
32
-1
-63
6
-58
-7
-14
14
-16
4
-15
-5
-12
683
-7,878
-422
2,686
-2,675
-7,466
33
-134
1635
-82
-32
241
1,280
134
-1,635
-82
-32
-241
-1,280
34
35
36
37
38
96
23
-13
34
2
17
33
13
18
-1
33
(*)
14
_2
39
40
41
42
43
44
45
46
47
-490
500
500
143
143
iis
(*)
-1,477
2276
1,119
-319
-862
-1,962
1,036
65
-209
-389
216
-35
-131
606
271
205
-247
550
321
-17
-275
417
229
-87
98
-3
86
-13
99
-1
808
-587
-407
n.a.
1,802
5,545
1,625
2,190
3,355
-1,624
3,432
-4,016
1,967
n.a.
4,503
5,851
373
377
797
4,304
-274
-1,321
860
1,101
-914
3,985
-2,081
543
-920
6,443
-6,130
-987
187
n.a.
-5,330
721
69
1,313
-123
-538
-6,329
-706
-706
n.a.
-4,851
-364
-84
-608
-121
449
2,701
132
648
415
1,506
-2,468
-205
-346
-360
-1,557
-6,199
-549
-400
n.a.
-5,249
5
19,671
18,802
2,645
2,822
1,056
12,279
13,762
32,077
5,477
4,981
12,039
9,580
(15)
15
( )
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
16
-213
(14)
(15)
(15)
(15)
(15)
(14)
(14)
(15)
(15)
(15)
(15)
1
(14)
(14)
311
923
-500
(14)
108
-110
(14)
219-40
(15)
(15)
(15)
(15)
519
(14)
163
n.a.
-170
(15)
(15)
15
862
2,653
15,327
2,158
n.a.
18,633
(15)
(15)
(15)
(16)
(15)
(15)
25
61
(15)
(15)
(15)
(15)
514
-1,456
3,754
(15)
(15)
(15)
(15)
(15)
(15)
-187
(15)
(15)
-69
15
651
-114
2,397
120
-567
899
15
(15)
(15)
3,469
(15)
15
873
n.a.
11,583
(15)
15
1,333
234
9,132
-130
-213
(15)
(15)
-108
791
(15)
(15)
(15)
(!5)
-406
(15)
(15)
(15)
-173
(15)
15
(15)
(15)
(15)
-193
(15)
15
(15)
(15)
318
(15)
(15)
(
"
)
(15)
(15)
(15)
-72
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
209
912
823
5,721
n.a.
23,820
237
-196
5,357
2,467
613
359
2,001
-9,495
-11,049
-5,944
679
-2,640
-3,144
23,267
21,050
4,477
-3,946
-1,896
-1,955
-1,955
-3,576
-919
-975
-975
-3,875
-2,193
-2,246
-2,246
-5,730
-2,768
-2,830
-2,830
-18,599
-11,421
-12,424
-13,755
-15,562
-8,018
-9,174
-10,823
-3,777
-2,161
-2,434
-2,843
-3,610
-2,152
-2,436
-2,953
-3,981
-1,621
-1,925
-2,297
-4,194
-2,083
-2,379
-2,730
-36,971
-37,647
-37,712
-37,712
-43,390
-45,197
-45,249
-45,249
-9,072
-9,511
-9,532
-9,532
(15)
48
49
50
51
52
53
54
55
56
57
58
59
60
61
1,318
339
9,553
733
(15)
2,855
n.a.
15
6,063
2,933
2,656
10,984
63
-10,167
-10,598
-10,600
-10,600
-11,651
-12,008
-12,019
-12,019
-12,500
-13,081
-13,098
-13,098
64
65
66
67
(15)
15
(15)
(15)
6
2,678
(14)
(15)
(15)
-17
(15)
(15)
(15)
15
(15)
(15)
(15)
(15)
(14)
(14)
(15)
(15)
(15)
(15)
15
1,311
-72
2,847
15
62
52
SURVEY OF CURRENT BUSINESS
March 1986
Table 10.—U.S. International
[Millions
Australia, New Zealand, and South Africa
(Credits +; debits -)1
Line
1 Exports of goods and services
2
.. ..
2
3
Merchandise, adjusted, excluding military 3
Transfers under U.S. military agency sales contracts
4
5
6
Travel
Passenger fares
Other transportation .
...
....
7
8
9
10
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners
Other private services
U.S. Government miscellaneous services
11
12
13
Receipts of income on U.S. assets abroad:
Direct investment
Other private receipts
U.S. Government receipts..
.
.
....
1985
1985 p
1984
lr
III r
II r
IV P
11,865
10,962
2,272
2,713
3,151
2,826
7,849
537
6,962
594
1,698
80
1,687
143
1,872
197
1,705
173
436
249
406
456
249
403
86
39
99
158
84
100
145
67
105
67
59
100
422
72
221
6
421
80
243
29
82
19
58
4
91
20
60
1
121
20
63
14
128
20
62
10
602
1,035
31
631
867
28
130
232
5
138
229
4
335
201
12
288
205
7
14 Transfers of goods and services under U.S. military grant programs net
15 Imports of goods and services
3
16
17
Merchandise adjusted excluding military
Direct defense expenditures
.
18
19
20
Travel
Passenger fares
Other transportation
21
22
23
24
Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners
Private payments for other services
U S Government payments for miscellaneous services
25
26
27
Payments of income on foreign assets in the United States:
Direct investment
Other private payments
U.S. Government payments
.
. . . . . .
...
7,825
7613
1785
-1,820
2089
-1,920
-5,633
-55
-5,582
49
-1,278
-11
-1,368
-9
-1,581
-17
1355
-12
578
-318
419
608
-395
-432
-163
-69
-99
-94
-90
111
-135
-122
113
-216
114
-108
-4
6
-44
-45
-3
-6
-48
-41
-1
2
-12
-17
-1
2
-12
8
(*)
-2
-12
9
1
-2
13
_7
(*)
133
-589
5
128
-327
11
-34
-112
4
-32
-89
6
-30
73
-8
32
-53
28 U.S. military grants of goods and services, net
29 Unilateral transfers (excluding military grants of goods and services) net
30
31
3 32
U.S. Government grants (excluding military grants of goods and services)
U.S. Government pensions and other transfers
Private remittances and other transfers
33 U.S. assets abroad, net (increase/capital outflow ( — ))
34
35
36
37
38
U.S. official reserve assets, net 4
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
39
40
41
42
U.S. Government assets, other than official reserve assets, net ..
U.S. credits and other long-term
assets
Repayments on U.S. loans 5
U.S. foreign currency holdings and U.S. short-term assets net
43
44
45
46
47
U.S. private assets, net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U S. nonbanking concerns
U.S. claims reported by U.S. banks, not included elsewhere
...
85
106
-26
-23
-27
31
-1
-18
-65
1
-19
-86
(*)
-5
-21
(*)
5
-18
-1
-5
-21
(*)
-5
-26
-631
1,025
769
327
422
18
40
58
(*)
48
6
562
6
15
5
1
16
-1
9
-6
17
-2
19
(*)
649
788
515
39
-961
977
455
50
n.a.
441
763
329
92
4
338
313
71
-24
-5
270
413
129
54
32
198
-512
-74
-73
n.a.
365
-515
1652
582
37
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
-493
....
.
48 Foreign assets in the United States, net (increase/capital inflow ( + ))
49
50
51
52
53
54
55
Foreign official assets in the United States, net
U.S. Government securities6
U.S. Treasury
securities
Other7
Other U.S. Government liabilities 8 ...
U.S. liabilities reported by U.S.
banks, not included elsewhere
Other foreign official assets 9
*
56
57
58
59
60
61
Other foreign assets in the United States, net
Direct investment
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
U.S. liabilities reported by U.S. banks, not included elsewhere
.
( )
(15)
118
166
(15)
(15)
(15)
(15)
15
15
(15)
(15)
1,367
(15)
317
(15)
149
216
2414
207
n.a.
2097
15
-543
-564
(15)
(15)
( 15 )
(15)
51
(15)
(15)
52
-63
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
32
184
(15)
79
127
-44
493
352
(15)
-17
-94
15
-255
-251
(15)
15
19
(15)
15
-44
-58
-431
15
141
n.a.
-918
62 Allocations of special drawing rights
63 Statistical discrepancy, and transfers of funds between foreign areas, net (sum of above items with
sign reversed).
64
65
66
67
Memoranda:
Balance on merchandise trade (lines 2 and 16)
Balance on goods and services (lines 1 and 15) 10
Balance on goods, services, and remittances (lines
65, 31, and 32)
Balance on current account (lines 65 and 29) 10
See footnotes on page 54.
-2,810
-2,616
-649
-1,234
2,216
4,041
3,957
3,956
1,380
3,349
3,244
3,243
420
488
462
462
319
892
870
870
-894
160
291
1,063
1,037
1,036
350
906
876
875
SURVEY OF CURRENT BUSINESS
March 1986
53
Transactions, by Area—Continued
of dollars]
International organizations and unallocated13
Other countries in Asia and Africa
1985 P
Ir
1985 "
1984
II r
Line
1985
1985
1984
III'
IIIr
II r
Ir
IV
IV P
934
1
72,137
66,592
17,673
16,808
15,939
16,173
4,981
4,700
1,256
1,230
1,282
44,447
5,804
40,844
5,389
10,504
1,780
10,692
1,312
9,624
1,130
10,024
1,167
390
(*)
295
35
101
159
929
409
3,358
962
375
3,675
263
74
955
230
87
900
325
135
885
144
79
934
862
951
248
246
203
254
707
194
1,927
270
723
203
1,864
294
171
50
504
57
151
51
455
89
186
51
454
91
215
52
451
57
-80
-77
-13
-25
-19
-21
1,330
61
1,297
184
319
56
329
57
317
68
331
2
7
8
9
10
5,925
5,513
2,654
5,034
4,575
2,655
1,478
1,212
625
1,200
1,171
470
1,108
1,113
837
1,248
1,079
724
537
927
954
226
956
869
124
234
253
98
242
181
68
234
252
-64
247
184
11
12
13
71
22
5
3
6
8
-94,021
-87,809
-20,442
-21,562
-23,105
-22,701
76,313
-2,517
-70,914
2063
-16,086
-550
-17,067
-525
-18,853
-464
-18,908
525
1,531
-459
-3,120
1,523
-510
-3,709
-348
-84
-915
-437
-123
-939
-389
-151
-928
-349
-152
-927
-65
-1,139
-68
-1,321
-20
-328
-12
-355
-18
-295
-18
-343
18
19
20
579
4
-497
-611
612
4
-528
-672
149
-1
-128
-153
135
-1
-131
-175
152
-1
-134
-176
177
-1
-136
-168
-98
-489
-110
-458
-25
-48
-28
-18
-28
-40
-29
-352
21
22
23
24
-26
-3,736
-5,786
408
-3,525
-5,381
33
-872
-1,422
-21
-856
-1,420
25
-878
-1,309
438
-920
-1,229
-383
-843
-349
-1,114
-82
-314
-104
-286
-97
-240
-66
-274
25
26
27
2
3
4
5
6
14
-3,017
-3,419
-817
-803
-718
-1,082
15
16
17
71
22
-5
-3
-6
8
-7,422
-9,928
-1,997
-2,001
-2,857
-3,073
-719
-767
-107
-321
-206
-134
29
-6,006
-314
1,101
-8,249
-316
-1,363
-1,523
-80
-394
-1,614
-79
308
-2,482
-75
-299
-2,630
-81
-362
-704
-749
1
-19
-107
-307
1
15
-206
-130
-15
-4
30
31
32
-6,003
1,830
736
-2,118
-166
3,377
-3,234
-422
-119
-638
371
-35
33
1974
12
17
-108
124
-22
979
-995
-897
908
-264
281
-180
72
264
388
-189
168
34
35
36
37
38
-202
-202
-165
-165
39
40
41
42
28
-3,030
-5,144
2,050
64
-1,534
-3,556
1,913
110
-628
-965
328
9
-471
-998
488
39
-218
-802
542
42
-217
-791
555
19
-911
-919
8
-821
-824
4
-209
-213
4
-244
-244
-2,973
-2,797
204
28
-408
3,363
-407
1,246
n.a.
2,034
1,364
-436
92
352
1,356
-1,647
-143
-195
-39
-1,270
52
-38
803
177
-891
3,594
209
546
n.a.
2,839
-349
182
-49
-3
-479
387
-24
922
n.a.
-514
73
-28
-266
-286
-127
249
1
-407
449
38
221
4
186
152
94
717
n.a.
-659
43
44
45
46
47
5,582
2,782
-2,078
3,558
432
870
3,367
682
916
160
-712
318
48
(15)
(15)
(15)
(15)
(15)
(15)
15
15
<(15)
)
21
-138
-48
-36
-55
(15)
(15)
(15)
(15)
(15)
(15)
(15)
448
(15)
(15)
204
87
21
138
48
36
-55
(15)
(15)
(15)
(15)
(15)
(15)
3,346
820
963
196
-657
(15)
(15)
(15)
-35
n.a.
770
-10
51
15 922
(15)
-20
20
15
196
(15)
219
(15)
948
-236
(15)
321
-1,128
4,854
-520
(15)
(15)
(15)
(15)
(15)
(15)
-110
(15)
15
742
n.a.
2,196
(15)
(15)
(15)
(15)
( )
587
(15)
(15)
15
(15)
354
(15)
15
-26
660
-2,081
15
(15)
235
-530
3,050
457
-269
15 _54
49
50
51
52
53
54
55
(15)
(15)
(15)
94
(15)
366
-574
(15)
15
76
n.a.
1,281
15
413
227
2,706
15
318
(15)
(15)
15
57
14
-728
-62
n.a.
380
18
56
57
58
59
60
61
62
29,727
26,534
6,107
5,316
9,758
5,353
-1,378
-774
-1,129
373
-17
-2
63
-31,866
-21,884
-23,300
-29,306
-30,070
-21,217
-22,896
-31,145
-5,582
-2,769
-3,243
-4,766
-6,375
-4,754
-5,141
-6,755
-9,229
-7,167
-7,541
-10,023
-8,884
-6,527
-6,970
-9,601
390
1,964
1,949
1,246
295
1,281
1,263
514
35
439
439
333
101
427
413
106
159
563
563
358
-148
-152
—282
64
65
66
67
54
SURVEY OF CURRENT BUSINESS
March 1986
Footnotes to U.S. International Transactions Tables 1-10
General notes for all tables:
r
Revised.
*Less than $500,000(±).
p
Preliminary.
n.a.
Table 1-2:
1. Credits, + : exports of goods and services; unilateral transfers to United States; capital inflows (increase in foreign assets (U.S. liabilities) or decrease in U.S. assets); decrease in U.S. official reserve assets; increase in foreign official assets in the United States.
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; decrease in foreign official assets in the United States.
2. Excludes transfers of goods and services under U.S. military grant programs (see line 14).
3. Excludes exports of goods under U.S. military agency sales contracts identified in Census
export documents, excludes imports of goods under direct defense expenditures identified in
Census import documents, and reflects various other adjustments (for valuation, coverage, and
timing) of Census statistics to balance of payments basis; see table 3.
4. For all areas, amounts outstanding December 31, 1985, were as follows in millions of dollars:
line 34, 43,185; line 35, 11,090; line 36, 7,293; line 37, 11,947; line 38,12,856.
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 agency 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. Conceptually, the sum of lines 67 and 62 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 measure of income receipts from direct investment abroad, and from the corresponding
income payments, (c) includes an adjustment for the different geographical treatment of transactions with U.S. territories and Puerto Rico, and (d) includes an adjustment for services furnished
without payment by financial intermediaries, except life insurance carriers. In addition, for
NIPA purposes, U.S. Government interest payments to foreigners are excluded from "net exports
of goods and services" but included with transfers in "net foreign investment." A reconciliation
table of the international accounts and the NIPA foreign transactions account appears in the
"Reconciliation and other Special Tables" section in this issue of the SURVEY OF CURRENT BUSINESS.
Table 3:
1. Exports, Census basis, represent transaction values, f.a.s. U.S. port of exportation; imports,
Census basis, represent Customs values (see Technical Notes, June 1982 SURVEY). Both unadjusted and seasonally adjusted data have been prepared by BEA from "actual" and "revised statistical" month data supplied by the Census Bureau (see Technical Notes, December 1985 SURVEY).
The seasonally adjusted data are the summation of seasonally adjusted 4-digit end-use commodity
categories (see Technical Notes, June 1980 SURVEY).
2. Adjustments in lines A5 and A13, B12, B46, and B80 reflect the Census Bureau's reconciliation of discrepancies between the merchandise trade statistics published by the United States and
the counterpart statistics published in Canada. These adjustments also have been distributed to
the affected end-use categories in section C.
3. Exports of military equipment under U.S. military agency sales contracts with foreign governments (line A6), and direct imports by the Department of Defense and the Coast Guard (Tine
A15), 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 17 (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; and coverage adjustments for
special situations in which shipments were omitted from Census data.
5. Deduction of foreign charges for repair of U.S. vessels abroad, which are included in tables 1,
2, and 10, line 20 (other transportation); and coverage adjustments for special situations in which
shipments were omitted from Census data.
6. Annual and unadjusted quarterly data shown in this table correspond to country and area
data in table 10, lines 2 and 16. Trade with international organizations includes purchases of nonmonetary gold from the IMF, transfers of tin to the International Tin Council (ITC), and sales of
satellites to Intelsat. The memoranda 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: Eastern Europe, Latin American Republics, other
Western Hemisphere, and other countries in Asia and Africa, less OPEC. For all years, "Asia"
and "Africa" exclude certain Pacific Islands and unidentified countries included in "Other countries in Asia and Africa."
7. Includes nuclear fuel materials and fuels.
Table 4:
1. Expenditures to release foreign governments from their contractual liabilities to pay for defense articles and services purchased through military sales contracts—first authorized (for
Israel) under Public Law 93-199, section 4, and subsequently authorized (for many recipients)
under 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 these military expenditures is applied in lines A40 and A43 to reduce short-term assets previously recorded in lines
A38 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 for the recipient countries
and is applied directly to lines A39 and C9. A third part of line A3, disbursed directly to finance
purchases by recipient countries from commercial suppliers in the United States, is included in
line A34. A fourth part of line A3, representing dollars paid to the recipient countries to finance
purchases from countries other than the United States, is included in line A45.
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 partly 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 A35 includes foreign currency collected as interest and line A40 includes 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
Not available.
the part of lines 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. Includes purchases of loans from U.S. banks and exporters and payments by the U.S. Government under commercial export credit and investment guarantee programs.
7. Excludes liabilities associated with military sales contracts financed by U.S. Government
grants and credits and included in line C2.
Table 5:
1. Also included in line 4.
2. Acquisition of equity holdings in existing and newly established companies, capital contributions, capitalization of intercompany accounts, and other equity contributions.
3. Sales, liquidations, and other dispositions of equity holdings, total and partial.
4. 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, communications, and public utilities; and services.
5. Also included in line 40.
Table 6:
1. Primarily provincial, regional, and municipal.
2. Largely transactions by International Bank for Reconstruction and Development (IBRD),
International Development Association (IDA), International Finance Corporation (IFC), Asian Development Bank (ADB), and Inter-American Development Bank (IDE).
3. Estimate for scheduled redemptions and identifiable early retirements. Includes estimates
based on Canadian statistics for redemptions of Canadian issues held in the United States. Unidentified and nonscheduled retirements appear in line 29.
4. Issues through finance affiliates established primarily to borrow capital from abroad. Issues
are almost always guaranteed by the establishing U.S. parent and are often convertible into the
parents' securities. To the extent proceeds are transferred from offshore affiliates to U.S. parents—the common practice—they are recorded as direct investment transactions in table 5, line
8.
Table 7:
1. Primarily mortgages, loans, and bills and notes drawn on foreigners.
2. Consists of Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
3. Bahamas, British West Indies (Cayman Islands), Netherlands Antilles, and Panama.
4. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting
countries.
Table 8:
1. Includes central governments and their agencies and corporations; state, provincial, and
local governments and their agencies and corporations; and international and regional organizations.
2. U.S.-owned banks are mainly U.S.-chartered banks and Edge Act subsidiaries. U.S. brokers'
and dealers' accounts may be commingled in some categories. Foreign-owned banks include U.S.
branches and agencies of foreign banks and majority-owned bank subsidiaries in the United
States.
3. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
4. Bahamas, British West Indies (Cayman Islands), Netherlands Antilles, and Panama.
5. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting
countries.
6. Includes Eastern Europe and international and regional organizations.
Table 9:
1. Negotiable certificates of deposit issued by banks in the United States are included in banks'
custody liabilities and are separately identified in memorandum line 8. Nonnegotiable certificates
of deposit are included in tune deposits.
2. Includes borrowing under Federal funds or repurchase arrangements, deferred credits, and
liabilities other than deposits.
3. Mainly negotiable and readily transferable instruments, excluding U.S. Treasury securities.
4. U.S. Treasury notes denominated in foreign currencies and subject to restricted transferability that were sold through foreign central banks to domestic residents in country of placement.
None of these notes were outstanding after July 1983.
5. Mainly International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), Asian Development Bank
(ADB), Inter-American Development Bank (IDE), and the Trust Fund of the International Monetary Fund.
6. U.S.-owned banks are mainly U.S.-chartered banks and Edge Act subsidiaries. U.S. brokers'
and dealers' liabilities may be commingled in some categories. Foreign-owned banks are U.S.
branches and agencies of foreign banks and majority-owned bank subsidiaries in the United
States.
7. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
8. Bahamas, British West Indies (Cayman Islands), Netherlands Antilles, and Panama.
9. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting
countries.
10. Includes Eastern Europe and international and regional organizations.
Table 10:
For footnotes 1-10, see table 1.
11. The "European Communities (10)" includes the "European Communities (6)," United Kingdom, Denmark, Ireland, and Greece.
12. The "European Communities (6)" includes Belgium, France, Germany, Italy, Luxembourg,
Netherlands, European Atomic Energy Community, European Coal and Steel Community, and
European Investment Bank.
13. Includes, as part of international and unallocated, the estimated direct investment in foreign affiliates engaged in international shipping, in operating oil and gas drilling equipment that
is moved from country to country during the year, and in petroleum trading.
14. Details not shown separately; see totals in lines 49 and 56.
15. Details not shown separately are included in line 61.
55
SURVEY OF CURRENT BUSINESS
March 1986
Constant-Dollar Inventories, Sales, and Inventory-Sales Ratios for Manufacturing and
Trade
Tables 1, 2, and 3 present constant-dollar inventories, sales, and inventory-sales ratios, respectively, quarterly and monthly. Table 4 presents
quarterly fixed-weighted constant-dollar inventory-sales ratios, i.e., ratios
obtained by weighting detailed industry ratios by 1982 sales. Table 5 pre-
sents quarterly and monthly inventories for manufacturing by stage of
fabrication. Quarterly estimates beginning in 1976 and monthly estimates for 1985 were published in the February 1986 SURVEY OF CURRENT
BUSINESS.
Table 1.—Manufacturing and Trade Inventories in Constant Dollars,
Seasonally Adjusted, End of Period
Table 3.—Constant-Dollar Inventory-Sales Ratios for Manufacturing
and Trade, Seasonally Adjusted
[Billions of 1982 dollars]
[Ratio, based on 1982 dollars]
1985
III
Manufacturing and trade
IV
636.1 6398
Manufacturing
332.6 330.0
Aug.
Sept.
Nov.
Dec. ' Jan.*
635.7 636.1 638.4 638.8 639.8 643.1
333.2 332.6 330.8 330.5 330.0 328.4
Durable goods
Primary metals
Fabricated metals
Machinery, except electrical
Electrical machinery
,
Transportation equipment
Motor vehicles
Other
Other durable goods 1
2176 2147 2177 2176 2163 216.1 214.7 2138
236 228 236 236 233 231 228 225
23.9
23.8
234 240 232 234 24.0
24.0
474 463 478 474 470 466 463 462
35.9
35.9
36.0
36.7
36.3
36.7
35.9
36.8
52.3
51.7 51.5
522 517 520 522 51.7
116 113 114 114 116 112
113 116
40.1
40.3
40.3 40.9
409 401 404 40.9
34.1 34.3
33.8
34.4
34.4
34.0
34.4
34.0
Nondurable goods
Food and kindred products
Nonfood
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastic products
Other nondurable goods 2
1150 1153
23.4
232
916 921
10.1 10.2
27.6
27.0
16.0
14.9
7.5
75
314 314
1155 1150 1145 1144 1153 1146
23.3
22.9 23.2
23.2
238 23.4
916 916 912 915 921 914
10.2
10.1 10.1 10.1 10.2
10.0
27.3
27.3
27.4
27.0
27.5
27.6
15.1
15.1 15.5 16.0
15.3 14.9
7.4
7.3
7.5
7.5
75
7.5
31.2
313 314 314 312 31.4
147.8
147.9
Merchant wholesalers. .
94.5
533
18.4
349
Durable goods
Nondurable goods
Groceries and farm products
Other nondurable goods .
Retail trade
148.9
950
539
18.7
352
155.7 1609
Durable goods
Auto dealers
Other durable goods .
Nondurable goods
Food stores
Other nondurable goods
716
31.1
405
841
175
667
764
36.0
404
845
176
669
949
530
181
350
147.8
945
533
18.4
349
147.9
94.5
533
18.7
346
147.2
94.9
523
18.1
342
148.9
95.0
539
18.7
352
1546 155.7 1597 161.1 160.9
712
30.8
404
834
174
661
716
31.1
405
841
175
667
1985
1986
Oct.
747
33.4
413
850
176
674
764
35.3
41 1
847
175
672
764
36.0
404
845
176
669
150.4
964
540
19.1
350
1642
786
37.6
410
856
180
677
Manufacturing1 and trade
Manufacturing
Aug.
1986
Sept. Oct.
Nov.
Dec. r Jan.
IV
1.53
1.54
1.52
1.52
1.54
1.53
1.53
1.76
1.73
1.75
1.77
1.74
1.72
1.73
1.71
2.15
2.52
1.71
2.46
2.46
2.03
.72
4.17
1.88
2.14
2.50
1.72
2.42
2.33
2.08
.70
4.57
1.90
2.16
2.54
1.81
2.48
2.36
2.04
.75
4.10
1.89
2.14
2.46
1.79
2.61
2.58
1.93
.64
4.45
1.77
1.54
Durable goods
Primary metals
Fabricated metals
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles
Other
Other durable goods l
221
2.53
172
2.55
2.56
214
.75
4.43
1.87
214
2.49
1.75
2.44
2.37
205
.74
4.24
1.88
2.18
2.45
1.70
2.57
2.54
206
.75
4.18
1.87
2.21
2.60
1.73
2.58
2.53
2.12
.72
4.62
1.87
Nondurable goods
Food and kindred products
Nonfood
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastic products
Other nondurable goods 2
1.27
98
138
1.34
1.66
.80
1.61
1.68
1.27
.98
137
1.32
1.63
.83
1.56
1.65
1.27
1.01
137
1.33
1.65
.79
1.63
1.66
1.28
.99
139
1.33
1.67
.81
1.63
1.66
1.27
1.00
137
1.33
1.63
.81
1.55
1.67
1.25
.95
1.35
1.32
1.68
.79
1.51
1.64
1.26
.99
1.36
1.29
1.62
.83
1.57
1.64
1.25
.95
1.36
1.26
1.60
.79
1.58
1.70
131
131
129
1.30
1.32
1.30
1.30
1.32
190
.84
73
.91
187
.86
73
.95
188
.83
72
.91
189
.84
.74
.90
188
.86
75
.93
187
.83
69
.94
1.85
.85
.72
.93
1.90
.86
.73
.95
1.37
1.45
1.37
1.34
1.45
1.46
1.43
1.47
1.63
1 15
1.83
151
2.28
122
78
1.43
1.63
1.15
2.37
1.20
77
1.41
1.55
1.07
2.37
1.21
76
1.42
1.84
144
2.35
122
77
1.44
1.86
1.50
2.35
1.22
78
1.44
1.77
1.44
2.23
1.22
78
1.43
1.84
1.53
2.27
1.24
80
1.45
Merchant wholesalers
Durable goods
Nondurable goods
Groceries and farm products
Other nondurable goods
Retail trade
.
Durable goods
Auto dealers
Other durable goods
Nondurable goods
Food stores
Other nondurable goods.
2 V)
121
77
1.43
See footnotes to table 4.
See footnotes to table 4.
Table 2.—-Manufacturing and Trade Sales in Constant Dollars,
Seasonally Adjusted Total at Monthly Rate
Table 4.—Fixed-Weighted Constant-Dollar Inventory-Sales Ratios for
Manufacturing and Trade, Seasonally Adjusted
[Billions of 1982 dollars]
[Ratio, based on 1982 dollars]
Manufacturing and trade
Manufacturing
Nov.
Dec. r Jan. "
III
IV
Aug.
Sept.
Oct.
415.2
416.1
418.0
417.8
413.5 416.6
418.2
417.3
188.8 191.3
190.6
188.0 190.6
192.7
190.7
191.6
Durable goods
Primary metals
Fabricated metals
Machinery except electrical
Electrical machinery
Transportation equipment
Motor vehicles
Other
Other durable goods l
98.5 100.4
9.2
9.3
135 138
185 190
14.3
15.1
24.4 25.3
152 15.8
95
92
18.4 18.1
99.9
9.6
13.6
186
14.5
25.2
15.5
9.7
18.4
98.5 100.7 101.0
9.2
9.3
9.1
13.9
13.5 14.0
18.4
19.1 19.2
14.8 15.4
14.5
25.4
24.7
25.1
15.8 15.8 16.2
9.0
8.9
9.6
18.1
18.4 18.2
99.5
9.0
13.3
18.6
15.2
25.4
15.6
9.8
18.0
99.8
9.2
13.3
17.7
13.9
26.6
17.6
9.1
19.1
Nondurable goods
Food and kindred products
Nonfood
Paper and allied products.....
Chemicals and allied products
Petroleum and coal products
Rubber and plastic products..
Other nondurable goods 2
902
23.8
66.4
7.6
16.7
188
4.6
187
90.9
23.6
67.3
7.7
16.6
192
4.8
190
90.7
23.7
67.0
7.6
16.7
193
4.6
18.9
89.6
23.6
66.0
7.6
16.5
18.3
4.6
18.9
89.9
91.7
24.1
23.3
66.6
67.6
7.6 i 7.7
16.8 16.3
18.8 19.7
4.7
4.9
18.8 19.1
91.3
23.5
67.8
7.9
16.7
19.3
4.8
19.2
91.8
24.4
67.4
8.1
17.0
19.1
4.8
18.3
, 113.1 113.6
49.7
634
251
384
Durable goods
Nondurable goods
Groceries and farm products
Other nondurable goods
113.3 111.1
Retail trade
Durable goods
Auto dealers
Other durable goods
Nondurable goods
Food stores
....".
Other nondurable goods
See footnotes to table 4.
50.8
628
25.7
372
•..
43.9
269
17.0
694
22.7
467
41.7
239
17.7
695
22.6
468
114.3 113.7 112.4 113.6 115.0 113.9
50.5
63.8
25.1
38.6
49.9
63.8
25.0
38.8
50.3
62.1
24.8
37.3
50.7
62.8
26.2
36.6
51.4
63.6
25.9
37.7
50.7
63.2
26.3
36.9
113.2 116.0 110.5 110.4 112.5 111.8
43.7
26.7
17.0
69.4
22.4
47.0
46.2
29.0
17.1
69.8
23.0
46.8
*
1986
1985
Merchant wholesalers
p
Ill
40.7
23.2
17.6
69.7
22.8
46.9
41.1
23.6
17.5
69.3
22.5
46.8
43.1
25.0
18.1
69.4
22.6
46.8
42.7
24.6
18.1
69.1
22.4
46.7
Manufacturing and trade
Manufacturing
1985
I
II
III
IV r
1.55
1.53
1.52
1.52
1 80
1 78
1 76
172
Durable goods
Nondurable goods
2.34
129
230
128
2.28
1.28
2.21
127
Merchant wholesalers
1 27
1 28
1 30
1 30
193
81
192
83
192
85
190
87
1.38
1.35
1.34
1.39
183
117
176
1.16
169
1.18
184
1.18
Durable goods . . . . .
Nondurable goods
Retail trade
Durable goods
Nondurable goods
••Revised.
"Preliminary
1. Includes lumber and wood products; furniture and fixtures; stone, clay, and glass products;
instruments and related products; and miscellaneous manufacturing industries.
2. Includes tobacco manufacturers; textile mill products; apparel products; printing and
publishing; and leather and leather products.
NOTE.—Manufacturing inventories are classified by the type of product produced by the
establishment holding the inventory. Trade inventories are classified by the type of product sold
by the establishment holding the inventory.
Table 4: The I-S ratios shown in this table were obtained by weighting detailed industry I-S
ratios by 1982 sales. For manufacturing, 21 industries were used; for merchant wholesalers, 20
kinds of business; and for retail trade, 8 kinds of business.
56
March 1986
SURVEY OF CURRENT BUSINESS
Table 5.—Manufacturing Inventories by Stage of Fabrication in Constant Dollars, Seasonally Adjusted, End of Period
[Billions of 1982 dollars]
1986
1985
III
IV
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
p
Materials and supplies
Manufacturing
108.1
108.0
108.9
108.1
108.0
107.0
108.0
107.1
Durable goods
Primary metals
Fabricated metals
Machinery, except electrical
Electrical machinery
Motor vehicles
Other transportation equipment
Other durable goods
;...
61.9
7.6
8.6
13.3
9.0
4.9
6.7
11.8
61.7
7.2
8.8
13.0
8.7
5.2
6.8
11.9
62.1
7.6
8.6
13.6
9.1
4.9
6.4
11.8
61.9
7.6
8.6
13.3
9.0
4.9
6.7
11.8
61.8
7.6
8.8
13.3
8.8
4.8
6.7
11.7
61.2
7.4
8.7
13.1
8.7
4.9
6.7
11.8
61.7
7.2
8.8
13.0
8.7
5.2
6.8
11.9
60.5
7.2
8.6
12.8
8.5
4.8
6.6
12.0
Nondurable goods
Food and kindred products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastic products
Other nondurable goods^
46.2
8.1
5.1
9.3
5.0
2.9
15.8
46.2
8.0
5.2
9.2
5.4
3.0
15.4
46.7
8.3
5.2
9.4
5.1
2.9
15.8
46.2
8.1
5.1
9.3
5.0
2.9
15.8
46.2
8.2
5.1
9.3
5.1
2.8
15.7
45.8
7.8
5.2
9.3
5.3
2.9
15.3
46.2
8.0
5.2
9.2
5.4
3.0
15.4
46.6
8.2
5.3
9.2
5.3
3.1
15.6
118.8
116.7
118.1
118.8
117.8
118.0
116.7
116.4
100.7
8.8
8.3
19.0
20.1
4.0
31.1
9.4
98.5
8.6
8.6
18.4
19.8
4.1
30.3
8.8
100.1
8.7
8.1
18.9
20.0
4.2
30.8
9.3
100.7
19.0
20.1
4.0
31.1
9.4
99.6
8.6
8.6
18.6
20.1
4.1
30.4
9.2
99.6
8.6
8.7
18.3
19.8
4.0
31.1
9.1
98.5
8.6
8.6
18.4
19.8
4.1
30.3
8.8
98.7
8.4
8.4
18.6
20.0
4.0
30.5
8.7
18.1
2.3
1.1
4.7
2.9
1.3
5.7
18.2
2.3
1.1
4.5
3.2
1.2
5.9
18.0
2.3
1.1
4.7
3.0
1.2
5.7
18.1
2.3
1.1
4.7
2.9
1.3
5.7
18.3
2.3
1.1
4.7
3.0
1.2
5.9
18.4
2.3
1.1
4.7
3.2
1.2
6.0
18.2
2.3
1.1
4.5
3.2
1.2
5.9
17.8
2.3
1.1
4.5
2.8
1.2
5.9
Work-in-process
Manufacturing
Durable goods
Primary metals
Fabricated metals
Machinery, except electrical
Electrical machinery
Motor vehicles
Other transportation equipment..
Other durable goods
Nondurable goods
Food and kindred products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastic products
Other nondurable goods
<
Finished goods
105.7
105.3
106.2
105.7
104.9
105.6
105.3
104.9
Durable goods
Primary metals
Fabricated metals
Machinery, except electrical
Electrical machinery
Motor vehicles
Other transportation equipment
Other durable goods
55.0
7.2
6.5
15.0
7.7
2.3
3.2
13.2
54.5
6.9
6.7
14.9
7.4
2.3
3.0
13.2
55.5
7.2
6.4
15.3
7.7
2.5
3.2
13.2
55.0
7.2
6.5
15.0
7.7
2.3
3.2
13.2
54.9
7.1
6.6
15.1
7.4
2.4
3.2
13.2
55.3
7.2
6.5
15.2
7.4
2.5
3.2
13.4
54.5
6.9
6.7
14.9
7.4
2.3
3.0
13.2
54.6
7.0
6.8
14.8
7.5
2.4
3.1
13.1
Nondurable goods
Food and kindred products
Paper and allied products..
Chemicals and allied products
Petroleum and coal products
Rubber and plastic products
Other nondurable goods
50.7
13.0
3.9
13.6
7.0
3.3
9.9
50.8
12.9
3.9
13.4
7.4
3.2
10.0
50.8
13.1
3.8
13.4
7.2
3.3
9.8
50.7
13.0
3.9
13.6
7.0
3.3
9.9
50.1
12.7
3.9
13.3
7.0
3.2
9.8
50.3
12.8
3.8
13.4
7.1
3.2
10.0
50.8
12.9
3.9
13.4
7.4
3.2
10.0
50.2
12.8
3.9
13.6
7.1
3.2
9.7
Manufacturing
See footnotes to table 4.
57
SURVEY OF CURRENT BUSINESS
March 1986
National Income and Product Accounts Tables, 1982-85
In December 1985, BEA released the results of a comprehensive revision of the national income and product accounts (NIPA's). All series in
the NIPA's were revised beginning in 1973 and many of them also were
revised for earlier years. All constant-dollar series and price indexes
were revised back to 1929. The major features of this revision were described in articles that appeared in the October and December 1985
issues of the SURVEY OF CURRENT BUSINESS. The December issue provided
revised estimates for the series in the regular quarterly presentation of
NIPA tables for 1983 and 1984 and for 1984:11 through 1985:111. Revised
estimates of selected NIPA series for years beginning in 1929 and for
quarters beginning in 1960 were published in the February 1986 SURVEY.
The following pages present the complete set of revised estimates beginning in 1982 and, where available, ending in 1985. They include the
preliminary estimates of corporate profits and profits taxes for the
fourth quarter of 1985, the revised 75-day estimates of the other NIPA
series, and the corresponding revisions to the year 1985. (The tables in
which the estimates are presented were redesigned as a part of the comprehensive revision; see page 28 in the October article and pages 18 and
19 in the December article.) The complete set of revised estimates for
National Product and Income
1.1
1.2
1.3
1.4
1.5
1.6
1.7
1.8
1.9
1.10
1.11
1.12
1.13
1.14
1.15
1.16
1.17
1.18
1.19
1.20
1.21
1.22
1.23
1.24
Gross National Product: QA
Gross National Product in Constant Dollars: QA.....
Gross National Product by Major Type of Product: QA
Gross National Product by Major Type of Product in
Constant Dollars: QA.
Relation of Gross National Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers: QA.
Relation of Gross National Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers in
Constant Dollars: QA.
Gross National Product by Sector: QA
Gross National Product by Sector in Constant Dollars:
QA.
Relation of Gross National Product, Net National
Product, National Income, and Personal Income: QA.
Relation of Gross National Product, Net National
Product, and National Income in Constant Dollars: QA.
Command-Basis Gross National Product in Constant
Dollars: QA.
Net National Product and National Income by Sector: A ....
Net National Product and National Income by Sector in
Constant Dollars: A.
National Income by Type of Income: QA
National Income by Sector, Legal Form of Organization,
and Type of Income: A.
Gross Domestic Product of Corporate Business in Current
Dollars and Gross Domestic Product of Nonfinancial
Corporate Business in Current and Constant Dollars:
QA.
Auto Output: QA
Auto Output in Constant Dollars: QA
Truck Output: QA
Truck Output in Constant Dollars: QA
Farm Sector Output, Gross Product, and National
Income: A.
Farm Sector Output, Gross Product, and National Income
in Constant Dollars: A.
Housing Sector Output, Gross Product, and National
Income: A.
Housing Sector Output, Gross Product, and National
Income in Constant Dollars: A.
Page
59
59
60
60
60
61
2.3
2.4
2.5
2.6
2.7
2.8
2.9
Personal Income and Its Disposition: QA
Personal Consumption Expenditures by Major Type of
Product: QA.
Personal Consumption Expenditures by Major Type of
Product in Constant Dollars: QA.
Personal Consumption Expenditures by Type of
Expenditure: A.
Personal Consumption Expenditures by Type of Product
in Constant Dollars: A.
Personal Income by Type of Income: MA
Personal Income and Its Disposition: MA
Personal Consumption Expenditures by Major Type of
Product: MA.
Personal Consumption Expenditures by Major Type of
Product in Constant Dollars: MA.
Government Receipts and Expenditures
3.1
3.2
3.3
3.4
3.5
3.6
3.7B
3.8B
61
61
62
62
62
63
63
64
65
3.9
3.10
3.11
3.12
3.13
3.14
3.15
3.16
3.17B
66
3.18
67
67
67
68
68
3.19
68
68
4.2
4.3
4.4
69
70
4.5
70
71
Page
76
76
77
78
78
78
79
79
80
80
81
81
81
81
82
83
84
85
85
Foreign Transactions in the National Income and
Product Accounts: QA.
Exports and Imports of Goods and Services in Constant
Dollars: QA.
Merchandise Exports and Imports by Type of Product
and by End-Use Category: QA.
Merchandise Exports and Imports by Type of Product
and by End-Use Category in Constant Dollars: QA.
Relation of Foreign Transactions in the National Income
and Product Accounts (NIPA's) to the Corresponding
Items in the Balance of Payments Accounts (BPA's): A.
86
86
87
87
88
Savings and Investment
72
5.1
5.2
73
74
75
5.3
75
Government Receipts and Expenditures: A
Federal Government Receipts and Expenditures: QA
State and Local Government Receipts and Expenditures:
QA.
Personal Tax and Nontax Receipts: A
Indirect Business Tax and Nontax Accruals: A
Contributions for Social Insurance: A........
Government Purchases of Goods and Services by Type:
QA.
Government Purchases of Goods and Services by Type in
Constant, Dollars: QA.
National Ifefense Purchases: QA.
,
National Defense Purchases in Constant Dollars: QA
Government Transfer Payments to Persons: A
Subsidies Less Current Surplus of Government
Enterprises: A.
Social Insurance Funds Receipts and Expenditures: A
Government Expenditures by Function: A
Federal Government Expenditures by Type and
Function: A.
State and Local Government Expenditures by Type and
Function: A.
Relation of Federal Government Receipts and
Expenditures in the National Income and Product
Accounts to the Unified Budget, Fiscal Years: QA,
Quarterly Totals Not Seasonally Adjusted.
Relation of State and Local Government Receipts and
Expenditures in the National Income and Product
Accounts to Bureau of Census Governmental Finances
Data, Fiscal Years: A.
Relation of Commodity Credit Corporation Expenditures
in the National Income and Product Accounts to
Commodity Credit Corporation Outlays in the Unified
Budget, Fiscal Years: A.
Foreign Transactions
4.1
Personal Income and Outlays
2.1
2.2
1929-82 will be available later in the spring in a separate volume. In
general, the revised NIPA estimates through 1982 will not be subject to
further revision until the next comprehensive NIPA revision. All estimates beginning in 1983 will be revised in July as part of the regular
annual revision.
The revised estimates are available also in hard copy, on magnetic
tape, and on diskettes. To obtain an order form indicating the technical
specifications of the tapes and diskettes, the cost of obtaining the estimates in these various forms, and the cost of the other materials, write
to the National Income and Wealth Division (BE-54), Bureau of Economic
Analysis, U.S. Department of Commerce, Washington, DC 20230, or call
202-523-0669.
The tables contain annual, quarterly, and monthly estimates, indicated
as follows:
A
Only annual estimates
Q
Only quarterly estimates
QA
Quarterly and annual estimates
MA
Monthly and annual estimates
Gross Saving and Investment: QA
Gross Private Domestic Investment, Capital Consumption
Allowances with Capital Consumption Adjustment, and
Net Private Domestic Investment by Major Type of
Investment: A.
Gross Private Domestic Investment, Capital Consumption
Allowances With Capital Consumption Adjustment,
and Net Private Domestic Investment by Major Type of
Investment in Constant Dollars: A.
89
89
89
58
5.4
5.5
5.6
5.7
5.8
5.9
5.10
5.11
SURVEY OF CURRENT BUSINESS
Purchases of Structures by Type: A
Purchases of Structures by Type in Constant Dollars: A
Private Purchases of Producers' Durable Equipment by
Type: A.
Private Purchases of Producers' Durable Equipment by
Type in Constant Dollars: A.
Change in Business Inventories by Industry: QA
Change in Business Inventories by Industry in Constant
Dollars: QA.
Inventories and Final Sales of Business by Industry:
Seasonally Adjusted Quarterly Totals: Q.
Inventories and Final Sales of Business by Industry in
Constant Dollars: Seasonally Adjusted Quarterly
Totals: Q.
Page
90
90
91
7.11
91
7.13
91
92
7.14
92
7.15
93
7.16
7.17
Product, Income, and Employment by Industry
6.1
6.2
6.3B
6.4B
6.5B
6.6B
6.7B
6.8B
6.9B
6.10B
6.11
6.12
6.13
6.14B
6.15B
6.16B
6.17B
6.18B
6.19B
6.20B
6.21B
6.22B
6.23B
6.24B
Gross National Product by Industry: A
Gross National Product by Industry in Constant Dollars:
A.
National Income Without Capital Consumption
Adjustment by Industry: QA.
Compensation of Employees by Industry: A
Wages and Salaries by Industry: A
Full-Time and Part-Time Employees by Industry: A
Full-Time Equivalent Employees By Industry: A
Wages and Salaries per Full-Time Equivalent Employee
by Industry: A.
Self-Employed Persons by Industry: A
Persons Engaged in Production, by Industry: A
Hours Worked by Full-Time and Part-Time Employees by
Industry: A.
Employer Contributions for Social Insurance by Industry:
A.
Other Labor Income by Industry and by Type: A
Nonfarm Proprietors' Income by Industry: A
Noncorporate Capital Consumption Allowances by
Industry: A.
Inventory Valuation Adjustment to Nonfarm Incomes by
Legal Form of Organization and Industry: A.
Net Interest by Industry: A
Corporate Profits by Industry: QA
Corporate Profits Before Tax by Industry: A
Federal, State, and Local Corporate Profits Tax Liability
by Industry: A.
Corporate Profits After Tax by Industry: A
Net Corporate Dividend Payments by Industry: A
Undistributed Corporate Profits by Industry: A
Corporate Capital Consumption Allowances by Industry:
A.
7.12
94
94
7.18
7.2
7.3
7.4
7.5
7.6
7.7
7.8
7.9
7.10
Fixed-Weighted Price Indexes for Gross National
Product, 1982 Weights: QA.
Fixed-Weighted Price Indexes for Gross National Product
by Major Type of Product, 1982 Weights: QA.
Fixed-Weighted Price Indexes for Relation of Gross
National Product, Gross Domestic Purchases, and Final
Sales to Domestic Purchasers, 1982 Weights: QA.
Implicit Price Deflators for Gross National Product: QA
Implicit Price Deflators for Gross National Product by
Major Type of Product: QA.
Implicit Price Deflators for Gross National Product by
Sector: QA.
Implicit Price Deflators for the Relation of Gross
National Product, Net National Product, and National
Income: QA.
Implicit Price Deflators for Command-Basis Gross
National Product: QA.
Fixed-Weighted Price Indexes for Personal Consumption
Expenditures by Major Type of Product, 1982 Weights:
QA.
Fixed-Weighted Price Indexes for Personal Consumption
Expenditures by Type of Product, 1982 Weights: A.
Implicit Price Deflators for Personal Consumption
Expenditures : MA.
Fixed-Weighted Price Indexes for Purchases of Structures
by Type, 1982 Weights: A.
Fixed-Weighted Price Indexes for Private Purchases of
Producers' Durable Equipment by Type, 1982 Weights:
A.
Fixed-Weighted Price Indexes for Exports and Imports of
Goods and Services, 1982 Weights: QA.
Fixed-Weighted Price Indexes for Merchandise Exports
and Imports by Type of Product and by End-Use
Category, 1982 Weights: QA.
Fixed-Weighted Price Indexes for Government Purchases
of Goods and Services by Type, 1982 Weights: QA.
Fixed-Weighted Price Indexes for National Defense
Purchases of Goods and Services, 1982 Weights: QA.
Current-Dollar Cost and Profit Per Unit of ConstantDollar Gross Domestic Product of Nonfinancial
Corporate Business: QA.
Page
108
109
109
110
110
111
111
112
95
Supplementary Tables
96
96
97
97
98
8.1
8.2
98
99
99
8.3
99
8.5
8.6
8.7
8.8
8.9
100
100
100
101
101
101
102
102
1.03
103
104
104
8.4
8.10
8.11
8.12
Fixed-Weighted Price Indexes and Implicit Price Deflators
7.1
March 1986
105
105
8.14
105
106
106
106
107
Percent Change From Preceding Period in Selected
Series: QA.
Selected Per Capita Income and Product Series in
Current and Constant Dollars and Population of the
United States: A.
Capital Consumption Allowances with Capital
Consumption Adjustment by Legal Form of
Organization: A.
Capital Consumption Adjustment by Legal Form of
Organization and Type of Adjustment: A.
Supplements to Wages and Salaries by Type: A
Rental Income of Persons by Type: A
Dividends Paid and Received: A
Interest Paid and Received: A
Imputations in the National Income and Product
Accounts: A.
Relation of Capital Consumption Allowances in the
National Income and Product Accounts (NIPA's) to
Depreciation and Amortization as Published by the
Internal Revenue Service (IRS): A.
Relation of Nonfarm Proprietors' Income in the National
Income and Product Accounts (NIPA's) to
Corresponding Totals as Published by the Internal
Revenue Service (IRS): A.
Relation of Net Farm Income in the National Income and
Product Accounts (NIPA's) to Farm Operators' Income
as Published by the U.S. Department of Agriculture
(USDA): A.
Relation of Corporate Profits, Taxes, and Dividends in
the National Income and Product Accounts (NIPA's) to
Corresponding Totals as Published by the Internal
Revenue Service (IRS): A.
Comparison of Personal Income in the National Income
and Product Accounts (NIPA's) with Adjusted Gross
Income as Published by the Internal Revenue Service
(IRS): A.
113
115
116
116
116
116
117
117
118
119
119
119
120
120
Seasonally Unadjusted Estimates
9.1
9.2
9.3
107
9.4
107
9.5
108
9.6
Gross National Product, Quarterly Totals Not Seasonally
Adjusted: Q.
Personal Consumption Expenditures by Major Type of
Product, Quarterly Totals Not Seasonally Adjusted: Q.
Federal Government Receipts and Expenditures,
Quarterly Totals Not Seasonally Adjusted: Q.
State and Local Government Receipts and Expenditures,
Quarterly Totals Not Seasonally Adjusted: Q.
Foreign Transactions in the National Income and
Product Accounts, Quarterly Totals Not Seasonally
Adjusted: Q.
Corporate Profits With Inventory Valuation Adjustment,
Quarterly Totals Not Seasonally Adjusted: Q.
121
121
122
122
123
123
59
SURVEY OF CURRENT BUSINESS
March 1986
1. National Product and Income
Table 1.1.—Gross National Product
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1985
1982
I
Gross national product.... 1
II
III
IV
I
III
II
1985
1984
1983
IV
I
III
II
IV
I
III
II
IV
3,166.0 3,401.6 3,774.7 3,988.5 3,112.6 3,159.5 3,179.4 3,212.5 3,268.7 3,365.1 3,437.5 3,535.0 3,676.5 3,757.5 3,812.2 3,852.5 3,917.5 3,960.6 4,016.9 4,059.3
Personal consumption
expenditures.
2
2,050.7 2,229.3 2,423.0 2,582.3 1,996.3 2,023.8 2,065.6 2,117.0 2,146.0 2,210.1 2,254.9 2,306.3 2,358.6 2,414.4 2,439.0 2,480.1 2,525.0 2,563.3 2,606.1 2,634.8
Durable goods
Nondurable goods
Services
3
4
5
252.7 289.6 331.1
361.5
771.0 817.0 872.4 912.2
1,027.0 1,122.7 1,219.6 1,308.6
Gross private domestic
investment.
6
447.3
501.9
674.0
669.3
459.5
467.8
452.2
409.6
425.0
483.7
521.2
577.6
658.8
673.3
687.9
676.2
657.6
672.8
666.1
680.7
Fixed investment
.
Nonresidential
Structures .
Producers' durable
equipment.
Residential .
Change in business
inventories.
Nonfarm
Farm
7
8
9
10
471.8
366.7
143.3
223.4
508.3
356.3
126.1
230.2
607.0
427.9
147.6
280.2
661.8
476.2
170.2
306.0
483.6
382.0
150.3
231.7
472.9
369.2
145.1
224.1
461.2
360.7
140.2
220.5
469.5
354.9
137.6
217.3
467.7
338.0
127.6
210.4
489.2
343.0
121.5
221.5
524.0
357.3
124.7
232.6
552.1
386.8
130.5
256.3
566.7
394.1
135.0
259.1
604.5
423.4
147.0
276.5
619.5
435.9
151.3
284.5
637.2
458.1
157.2
300.9
639.1
459.6
166.1
293.5
657.3
474.2
169.7
304.5
665.9
478.5
170.4
308.1
685.0
492.5
174.5
318.0
11
12
105.1
-24.5
152.0
-6.4
179.1
67.1
101.7
185.6
7.5 -24.1
103.6
-5.0
100.5
-9.0
114.7
-59.9
129.7
-42.7
146.2
-5.5
166.7
-2.8
165.4
25.5
172.6
92.1
181.0
68.9
183.7
68.3
179.1
39.0
179.4
18.5
183.1
15.5
187.4
.2
192.5
-4.3
13
14
23 1
-1.4
.8
-7.1
58.0
9.1
1.8
15.5
-7.3 -18.4
19.4
6.1
71.6
20.5
61.2
7.7
62.8
5.5
36.4
2.6
14.2
4.3
10.8
4.7
Net exports of goods and
services.
15
26.3
-5.3
16
17
361.9
335.6
354.1
359.4
384.6
443.8
18
641.7
675.7
19
20
21
22
272.7
193.8
78.9
369.0
284.8
215.7
69.2
390.9
Exports
Imports
Government purchases of
goods and services.
Federal
National defense .
Nondefense
State and local
11.8
-4.3
245.1 248.9 252.8 263.8 268.5 285.3 295.3 309.4 321.6 330.2 331.1 341.5 351.5 356.5 376.0 362.0
826.5 837.2 856.6 873.2 876.6 883.1 895.7 910.2 914.5 928.3
758.1 762.6 776.7 786.6 792.4 811.7
993.1 1,012.2 1,036.1 1,066.5 1,085.2 1,113.0 1,133.1 1,159.6 1,180.4 1,211.1 1,231.3 1,255.4 1,277.8 1,296.6 1,315.6 1,344.6
199
-4.3
-9.0 -12.4
-51.1 -33.7
3.3
88
4.0
90
3.1
19.0
-2.9 -23.3
34.7
42.1
14.5
14.1
28.4
-2.6
369.9
448.4
373.0
338.4
378.9
336.8
359.9
345.4
335.9
321.9
344.6
316.2
345.0
347.5
358.0
377.6
368.8
396.2
375.4
412.8
382.3
447.6
391.4
453.3
389.5
461.7
379.6
421.9
369,2
439.5
363.2
451.0
367.8
481.2
736.8
815.4
622.1
625.7
647.1
671.8
669.3
673.8
681.1
678.6
696.5
735.1
747.3
768.4
777.2
794.8
832.5
857.2
312.9
237.0
76.0
423.9
355.4
261.9
93.6
460.0
262.9
182.2
80.7
359.2
259.3
190.3
69.0
366.4
275.3
197.3
78.0
371.8
293.2
205.4
87.7
378.7
287.1
209.4
77.8
382.2
287.0
214.5
72.5
386.9
286.0
215.8
70.2
395.1
279.2
222.9
56.2
399.4
285.6
228.3
57.3
410.9
314.8
235.8
79.0
420.3
318.5
236.2
82.2
428.8
332.9
247.5
85.4
435.5
334.4
249.5
84.9
442.8
337.8
256.0
81.7
457.1
364.8
269.9
95.0
467.7
384.7
272.1
112.6
472.5
III
IV
-59.2
-78.5
-19.7
-27.4
-37.4
-65.3
-61.9
-72.2
-42.3
-70.3
-87.8
-113.4
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 1.2.—Gross National Product in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1982
1985
I
Gross national product.... 1
Personal consumption
expenditures.
2
Durable goods
Nondurable goods....
Services
3
4
5
Gross private domestic
investment.
6
II
III
I
IV
II
1985
1984
1983
III
IV
I
II
III
IV
I
II
3,166.0 3,277.7 3,492.0 3,570.0 3,170.4 3,179.9 3,154.5 3,159.3 3,190.6 3,259.3 3,303.4 3,357.2 3,449.4 3,492.6 3,510.4 3,515.6 3,547.8 3,557.4 3,584.1 3,590.8
2,050.7 2,145.9 2,239.9 2,313.0 2,031.2 2,041.0 2,051.8 2,078.7 2,096.4 2,137.2 2,161.8 2,188.1 2,210.9 2,243.0 2,243.4 2,262.0 2,288.6 2,303.5 2,329.6 2,330.4
252.7 283.6 318.6 345.3 247.7 249.1 251.8 262.0 264.9 280.8 288.5 300.0 311.0 317.7 318.0 327.6 335.0 340.3 359.3 346.7
771.0 800.7 828.0 846.9 764.2 768.3 772.8 778.6 787.0 796.8 806.8 812.0 819.4 832.8 831.2 828.6 839.9 846.7 849.8 851.1
1,027.0 1,061.7 1,093.3 1,120.8 1,019.2 1,023.5 1,027.2 1,038.1 1,044.5 1,059.7 1,066.5 1,076.1 1,080.5 1,092.6 1,094.3 1,105.8 1,113.7 1,116.5 1,120.4 1,132.6
447.3 503.4 661.3 649.0 464.2 467.5 448.6 408.8 422.5 489.0 526.3 575.9 649.0 662.9 673.3 659.9 639.6 655.6 645.0 655.7
Fixed investment
Nonresidential
Structures
Producers' durable
equipment.
Residential
Change in business
inventories.
Nonfarm
Farm
7
8
9
10
471.8
366.7
143.3
223.4
508.9
360.1
129.7
230.5
598.6
430.3
148.7
281.6
643.3
472.0
165.8
306.3
488.2
387.0
151.0
235.9
473.0
369.5
144.7
224.9
458.1
358.0
139.3
218.7
468.1
352.3
138.3
214.1
464.7
337.5
129.3
208.2
492.7
346.9
125.4
221.4
524.9
363.4
128.6
234.7
553.2
392.9
135.4
257.5
565.4
398.8
138.8
260.0
596.8
426.8
148.5
278.3
608.4
437.6
151.6
286.0
623.8
457.8
156.0
301.9
623.8
457.2
163.2
293.9
640.5
470.9
165.3
305.6
646.8
473.7
165.8
307.9
662.0
486.5
168.7
317.8
11
12
105.1
-24.5
148.7
-5.5
168.3
62.7
171.2
5.7
101.2
-24.0
103.4
-5.4
100.1
-9.4
115.8
-59.3
127.2
-42.2
145.8
-3.7
161.6
1.4
160.4
22.6
166.6
83.6
170.0
66.0
170.8
64.9
166.0
36.1
166.7
15.8
169.6
15.1
173.1
-1.8
175.5
-6.3
13
14
-23.1
-1.4
.4
-5.8
55.9
6.8
10.6
-4.8
199
-4.1
-9.5
4.0
127
3.2
504
-8.9
338
-8.5
1.7
-5.3
14.6
13 2
18.9
3.7
68.8
14.8
59.7
6.3
60.4
4.5
Net exports of goods and
services.
15
-108.4
40.4
41.7
11.7
11.7
Exports
Imports
Government purchases of
goods and services.
Federal
National defense
Nondefense
State and local
26.3 -19.4
-85.0
22.5 -15.0
-48.9
-60.6
-90.4
-88.7
10.7
11.8
34.6
18.2
1.6
4.0
4.5 -3.4 -24.5
1.5
-100.2 -71.8 -101.1 -119.8 -140.8
16
17
361.9
335.6
349.4
368.8
370.9
455.9
359.9
468.3
374.1
333.7
378.5
336.8
359.5
347.8
336.0
324.3
342.8
320.3
342.4
357.4
353.1
389.3
359.1
408.0
362.7
423.3
366.6
457.0
376.9
465.6
377.3
477.5
368.7
440.5
358.2
459.3
353.5
473.3
359.2
500.0
18
641.7
647.8
675.9
716.4
634.6
629.7
642.5
660.1
649.1
648.2
651.5
642.2
650.1
677.1
682.4
693.9
691.4
699.4
729.2
745.5
19
20
21
22
272.7
193.8
78.9
369.0
275.5
207.3
68.3
372.2
292.5
220.3
72.3
383.3
322.6
235.7
86.9
393.8
267.0
185.4
81.6
367.7
260.5
191.6
68.9
369.2
273.8
197.0
76.9
368.6
289.5
201.4
88.2
370.6
279.2
203.8
75.4
369.9
277.6
206.9
70.6
370.6
277.4
206.5
70.9
374.1
267.9
211.8
56.1
374.3
271.4
214.1
57.3
378.6
294.8
219.6
75.2
382.4
296.7
219.6
77.1
385.7
307.3
227.9
79.5
386.6
304.3
226.7
77.6
387.1
305.9
231.5
74.3
393.6
331.1
243.3
87.9
398.1
349.0
241.3
107.7
396.5
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
-36.2
60
SURVEY OF CURRENT BUSINESS
March 1986
Table 1.3.—Gross National Product by Major Type of Product
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1985
1982
I
Gross national product....
Final sales
Change in business
inventories.
Goods
Final sales
Change in business
inventories.
Durable goods .
Final sales
Change in business
inventories.
Nondurable goods
Final sales
Change in business
inventories.
Services
Structures
II
III
IV
I
1985
1984
1983
II
III
IV
I
II
III
IV
I
II
III
IV
1
2
3
3,166.0 3,401.6 3,774.7 3,988.5 3,112.6 3,159.5 3,179.4 3,212.5 3,268.7 3,365.1 3,437.5 3,535.0 3,676.5 3,757.5 3,812.2 3,852.5 3,917.5 3,960.6 4,016.9 4,059.3
3,190.5 3,408.0 3,707.6 3,981.1 3,136.7 3,164.5 3,188.4 3,272.4 3,311.4 3,370.6 3,440.3 3,509.5 3,584.4 3,688.7 3,743.9 3,813.5 3,899.0 3,945.0 4,016.7 4,063.6
.2 -4.3
39.0
18.5
15.5
-24.5
-6.4
67.1
-5.0
-9.0 -59.9 -42.7
68.9
68.3
7.5 -24.1
-5.5
-2.8
25.5
92.1
4
5
6
1,319.1 1,394.7 1,585.8 1,639.3 1,310.7 1,329.9 1,326.2 1,309.8 1,328.4 1,385.0 1,399.9 1,465.3 1,558.1 1,585.4 1,595.8 1,604.0 1,628.4 1,636.0 1,650.8 1,642.2
1,343.7 1,401.1 1,518.8 1,631.9 1,334.8 1,335.0 1,335.2 1,369.7 1,371.1 1,390.5 1,402.7 1,439.8 1,466.0 1,516.5 1,527.5 1,565.0 1,609.8 1,620.5 1,650.6 1,646.5
15.5
.2 -4.3
-5.0
-9.0 -59.9 -42.7
92.1
68.9
68.3
39.0
18.5
-24.5
-6.4
67.1
7.5 -24.1
-5.5
-2.8
25.5
7
8
9
526.1
542.9
-16.8
572.3
573.2
-.9
679.5
642.5
37.0
709.2 523.1
702.8 537.7
6.4 -14.6
535.4
539.5
-4.1
536.9 509.1 513.6
542.6 551.8 542.4
-5.7 -42.7 -28.9
565.5
566.3
-.9
589.3
576.4
12.9
620.8
607.4
13.5
661.7
618.5
43.2
673.7
637.6
36.1
680.9
641.4
39.4
701.9
672.6
29.3
706.2
689.4
16.9
705.9
704.0
1.8
714.8
721.2
-6.4
10
11
12
793.0
800.8
-7.7
822.4
827.9
-5.5
906.3
876.2
30.1
930.1
929.0
1.1
787.6
797.1
-9.5
794.5
795.5
-.9
789.4 800.6 814.9
792.7 817.9 828.7
-3.3 -17.2 -13.9
819.5 810.6
824.2 826.3
-4.7 -15.7
844.5
832.4
12.1
896.4
847.4
48.9
911.7
878.9
32.8
915.0
886.1
28.9
902.2
892.5
9.7
922.1
920.5
1.6
930.2
916.5
13.7
935.9 932.2
929.4 949.8
6.6 -17.7
13
14
710.0
696.7
13.4
1,547.5 1,678.0 1,806.6 1,930.5 1,499.1 1,530.3 1,561.6 1,598.9 1,632.2 1,662.5 1,693.3 1,724.1 1,757.9 1,789.2 1,823.8 1,855.6 1,887.6 1,908.2 1,939.9 1,986.4
299.4 328.9 382.2 418.7 302.8 299.3 291.6 303.9 308.0 317.6 344.3 345.6 360.5 383.0 392.6 392.9 401.5 416.3 426.2 430.6
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 1.4.—Gross National Product by Major Type of Product in Constant Dollars
[Billions of 1982 dollars]
Se asonalljr adjuste d at anilual rates
Line
1982
1983
1984
1985
1982
I
Gross national product....
Final sales
Change in business
inventories.
Goods
Final sales
Change in business
inventories.
Durable goods
Final sales
Change in business
inventories.
Nondurable goods
Final sales
Change in business
inventories.
Services
Structures
III
II
I
IV
II
1985
19 84
19 83
III
IV
I
II
III
IV
I
IV
III
II
1
2
3
3,166.0 3,277.7 3,492.0 3,570.0 3,170.4 3,179.9 3,154.5 3,159.3 3,190.6 3,259.3 3,303.4 3,357.2 3,449.4 3,492.6 3,510.4 3,515.6 3,547.8 3,557.4 3,584.1 3,590.8
3 1905 3283 1 34293 35643 31944 3 1853 3 1640 32186 32328 32630 3 302 1 3 334 6 3 3657 34266 34455 34795 35320 35423 3 585 8 3597 1
5.7 -24.0
62.7
-5.5
-24.5
-9.4 -59.3 -42.2
-5.4
-3.7
-6.3
15.1 -1.8
15.8
36.1
66.0
22.6
1.4
64.9
83.6
4
5
6
1,319.1 1,364.4 1 5064 1 5324 1 3277 13350 13160 1 2979 13146 1 3588 1 370 11 414 3 1 489 0 1 511 6 1 5144 1 5105 1 5303 1 531 5 1 541 0 1 526 8
13437 13699 14437 15267 13517 13405 13254 1 357 113568 13625 13687 1391 6 1 4054 14455 14495 1 4744 1 5146 15163 15427 15331
5.7 -24.0
-24.5
-5.4
62.7
-5.5
-9.4 -59.3 —42.2 -3.7
1.4
15.1 -1.8
36.1
64.9
66.0
83.6
22.6
-6.3
15.8
7
8
9
5261
542.9
-16.8
5618
562.9
-1.1
6554
619.9
35.5
6765 5337
670.8 548.5
5.8 -14.8
5375
541.6
-4.1
5318 5014 5050
537.7 543.8 533.5
-5.9 -42.4 -28.4
5576
5586
-1.0
5793
5672
12.1
6051
5922
13.0
6419
6005
41.4
651 6
6166
35.0
6554
6176
37.9
6726
6448
27.9
673 1
6572
15.8
6742
6726
1.6
6803
6864
-6.1
10
11
12
793.0
8008
-7.7
802.7
807 1
-4.4
851.0
8239
27.1
855.9
8559
0
794.0
8032
-9.2
797.5
7988
-1.3
784.1 796.5 809.5
7877 8134 8233
-3.6 -16.9 -13.8
801.2 790.8
8039 8015
-2.7 -10.7
8091
7994
9.7
847 1
8049
42.2
8600
8290
31.0
8590
8320
27.0
8379
8296
8.2
8573
8573
-.1
8573
8438
13.5
8607 8483
8563 8663
4.4 -18.0
13
14
6786
6668
11.8
1,547.5 1,584.4 1,615.4 1,644.2 1,539.9 1,546.2 1,548.3 1,555.5 1,569.1 1,579.5 1,590.9 1,598.0 1,603.2 1,609.6 1,618.7 1 6301 1 6360 1 633 9 1 643 4 1 663 5
299.4 328.8 370.2 393.4 302.8 298.6 290.3 305.9 306.9 321.0 342.5 345.0 357.1 371.5 377.2 375.0 3815 3920 3997 4005
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 1.5.—Relation of Gross National Product, Gross Domestic Purchases, and Final Sales to Domestic Purchasers
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1982
1985
I
Gross national product
Less: Exports of goods and
services.
Plus: Imports of goods and
services.
Equals: Gross
domestic
purchases 1.
Less: Change in business
inventories.
Equals: Final sales to 2
domestic purchasers .
1
2
3
4
5
6
II
III
I
IV
III
IV
I
II
III
IV
I
II
IV
III
3,166.0 3,401.6 3,774.7 3,988.5 3,112.6 3,159.5 3,179.4 3,212.5 3,268.7 3,365.1 3,437.5 3,535.0 3,676.5 3,757.5 3,812.2 3,852.5 3,917.5 3,960.6 4,016.9 4,059.3
361.9 354.1 384.6 369.9 373.0 378.9 359.9 335.9 344.6 345.0 358.0 368.8 375.4 382.3 391.4 389.5 379.6 369.2 363.2 367.8
335.6
359.4
443.8
448.4
338.4
336.8
345.4
321.9
316.2
347.5
377.6
396.2
412.8
447.6
453.3
461.7
421.9
439.5
451.0
481.2
3,139.7 3,406.9 3,833.9 4,067.0 3,077.9 3,117.3 3,164.9 3,198.5 3,240.2 3,367.6 3,457.1 3,562.4 3,713.9 3,822.9 3,874.1. 3,924.7 3,959.8 4,030.9 4,104.7 4,172.7
-24.5
-6.4
67.1
7.5 -24.1
-5.0
-9.0
-59.9
-42.7
-5.5
-2.8
25.5
92.1
68.9
68.3
39.0
18.5
15.5
.2
-4.3
3,164.2 3,413.3 3,766.8 4,059.5 3,102.0 3,122.4 3,173.9 3,258.4 3,283.0 3,373.2 3,460.0 3,536.9 3,621.8 3,754.0 3,805.8 3,885.7 3,941.3 4,015.4 4,104.5 4,177.0
1. Purchases in the United States of goods and services wherever produced.
2. Final sales in the United States of goods and services wherever produced.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
II
1985
1984
1983
61
SURVEY OF CURRENT BUSINESS
March 1986
Table 1.6.—Relation of Gross National Product, Gross Domestic Purchases, and Final Sales to Domestic Purchasers in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
I
Gross national product .
]
Less: Exports of goods and
services.
Plus: Imports of goods and
services.
2
Equals: Gross
domestic
purchases 1.
4
Less: Change in business
inventories.
5
Equals: Final sales to 2
domestic purchasers .
6
3
II
III
I
IV
1985
1984
1983
1982
1985
II
III
IV
I
II
III
IV
I
II
III
IV
3,166.0 3,277.7 3,492.0 3,570.0 3,170.4 3,179.9 3,154.5 3,159.3 3,190.6 3,259.3 3,303.4 3,357.2 3,449.4 3,492.6 3,510.4 3,515.6 3,547.8 3,557.4 3,584.1 3,590.8
361.9 349.4 370.9 359.9 374.1 378.5 359.5 336.0 342.8 342.4 353.1 359.1 362.7 366.6 376.9 377.3 368.7 358.2 353.5 359.2
335.6
368.8
455.9
468.3
333.7
336.8
347.8
324.3
320.3
357.4
389.3
408.0
423.3
457.0
465.6
477.5
440.5
459.3
473.3
500.0
3,139.7 3,297.1 3,577.0 3,678.4 3,130.0 3,138.2 3,142.9 3,147.6 3,168.1 3,274.3 3,339.7 3,406.2 3,510.0 3,583.0 3,599.1 3,615.8 3,619.6 3,658.5 3,703.8 3,731.7
-24.5
-5.5
62.7
5.7 -24.0
-9.4
-5.4
-59.3
-42.2
1.4
-3.7
22.6
83.6
66.0
64.9
36.1
15.8
-1.8
15.1
-6.3
3,164.2 3,302.6 3,514.3 3,672.7 3,154.0 3,143.6 3,152.3 3,206.9 3,210.3 3,278.0 3,338.3 3,383.5 3,426.3 3,517.0 3,534.2 3,579.7 3,603.8 3,643.4 3,705.6 3,737.9
1. Purchases in the United States of goods and services wherever produced.
2. Final sales in the United States of goods and services wherever produced.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 1.7.—Gross National Product by Sector
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1985
1982
I
Gross national product-- 1
Gross domestic product
Business
Nonfarm
Nonfarm less housing
Housing
Farm
Statistical discrepancy
Rest of the world
II
III
I
IV
II
1984
III
IV
I
II
1985
III
15
3,166.0 3,401.6 3,774.7 3,988.5 3,112.6 3,159.5 3,179.4 3,212.5 3,268.7 3,365.1 3,437.5 3,535.0 3,676.5 3,757.5 3,812.2
3,726.7 3,947.7 3,062.3 3,105.9 3,127.4 3,163.8 3,219.3 3,316.1 3,384.7 3,483.5 3,625.0 3,712.5 3,763.7
3,203.1 3,387.9 2,618.9 2,653.2 2,667.1 2,693.6 2,740.7 2,830.9 2,892.5 2,984.2 3,112.6 3,192.6 3,236.7
3,124.4 3,319.1 2,548.8 2,575.9 2,592.7 2,607.7 2,670.6 2,767.2 2,842.5 2,927.6 3,027.3 3,112.6 3,157.3
2,834.8 3,003.4 2,311.4 2,335.9 2,346.9 2,355.6 2,413.3 2,504.8 2,573.8 2,652.7 2,747.2 2,826.0 2,864.1
289.7 315.7 237.4 240.0 245.8 252.1 257.3 262.4 268.7 274.8 280.1 286.6 293.2
77.7
80.2
69.7
74.9
76.2
79.0
71.5
59.4
54.3
57.8
82.5
81.9
78.6
-.9 -4.8
1.0 -3.2
6.8 -1.4
-1.5
4.3 -4.3
-1.2
2.8 -1.9
.8
112.7 122.4 131.9 140.8 108.5 111.2 114.5 116.9 118.9 121.0 123.7 126.0 128.9 131.1
132.8
7.7
7.8
8.7
7.4
7.7
7.7
7.6
9.5
7.6
7.8
7.7
8.1
8.3
8.6
8.8
105.1 114.6 123.2 131.3 101.1
103.5 106.8 109.2 111.2 113.3 115.8 118.0 120.6 122.5 123.9
343.9 366.4 391.7 419.0 334.9 341.5 345.8 353.4 359.7 364.2 368.5 373.3 383.6 388.9 394.3
117.0 124.6 132.1 139.8 114.4 116.0 116.9 120.7 123.1 124.3 125.0 125.9 130.8 131.6 132.5
226.9 241.8 259.6 279.2 220.5 225.5 228.9 232.6 236.5 239.9 243.4 247.4 252.8 257.3 261.8
52.0
51.2
50.7
40.8
50.3
53.6
48.7
49.4
49.0
48.0
52.8
51.5
45.0
51.5
48.5
16
2,404.2 2,586.7 2,903.8
2
3
4
5
6
7
8
Households and institutions— 9
Private households
10
11
Nonprofit institutions
Government
Federal
State and local
1983
12
13
14
3,114.8 3,350.9
2,658.2 2,862.1
2,581.3 2,802.0
2,337.5 2,536.2
243.8 265.8
77.0
60.8
i
-.6
IV
I
III
II
IV
3,852.5 3,917.5 3,960.6 4,016.9 4,059.3
3,805.6 3,874.7 3,920.4 3,977.2 4,018.5
3,270.6 3,327.8 3,365.5 3,414.2 3,444.0
3,200.7 3,251.3 3,301.5 3,346.9 3,376.5
2,901.9 2,946.9 2,990.0 3,027.3 3,049.3
298.7 304.4 311.6 319.6 327.2
77.6
68.7
64.7
74.0
71.5
2.5
76
2.5 -4.7
39
134.9
9.1
125.9
136.9
9.2
127.7
139.3
9.4
129.8
141.9
9.6
132.3
145.1
9.8
135.3
400.0
133.5
266.5
410.0
138.3
271.7
415.6
139.0
276.6
421.2
139.5
281.6
429.4
142.5
286.9
46.9
42.8
40.2
39.6
40.7
IV
I
II
III
IV
Addendum:
Gross domestic business
product less housing.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 1.8.—Gross National Product by Sector in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1985
1982
I
Gross national product-- 1
Gross domestic product
2
3,166.0
3,114.8
2,658.2
2,581.3
2,337.5
243.8
77.0
-.1
3,277.7
3,228.9
2,769.4
2,707.4
2,456.9
250.4
62.6
-.6
3,492.0
3,447.5
2,982.1
2,912.3
2,653.3
258.9
71.2
-1.4
II
1983
III
I
3,159.3
3,111.3
2,654.1
2,567.1
2,321.5
245.6
80.3
6.7
3,190.6
3,142.3
2,684.1
2,612.0
2,364.8
247.2
73.5
-1.4
Business
Nonfarm
Nonfarm less housing
Housing ..
Farm
Statistical discrepancy
3
4
5
6
7
8
Households and institutions—
Private households
Nonprofit institutions
Government
Federal
State and local
9
10
11
112.7
7.6
105.1
114.5
7.8
106.7
116.9
8.6
108.3
3,170.4 3,179.9 3,154.5
3,119.2 3,125.9 3,102.9
2,663.8 2,668.9 2,646.0
2,591.8 2,593.2 2,573.2
2,349.1 2,350.3 2,329.2
242.7 243.0 244.0
76.9
74.7
76.0
-4.9
1.0 -3.2
120.1 111.4
112.4 113.4
7.4
9.0
7.7
7.6
111.2
104.0 104.8 105.7
12
13
14
343.9
117.0
226.9
345.0
118.7
226.3
348.5
120.3
228.2
351.2
121.6
229.6
344.0
116.4
227.6
344.6
116.8
227.7
343.6
117.3
226.3
343.5
117.6
225.9
15
51.2
48.8
44.5
36.6
51.2
54.0
51.6
48.0
Rest of the world
3,570.0
3,533.4
3,062.1
2,989.6
2,723.9
265.7
73.2
-.8
IV
113.8
7.7
106.1
3,259.3
3,212.0
2,753.4
2,683.6
2,434.5
249.1
65.6
4.2
113.9 114.0
7.7
7.7
106.2 106.3
344.4 344.6
118.6 118.7
225.8 225.9
Addendum:
Gross domestic business
product less housing.
16
2,404.2 2,509.2 2,713.8
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
II
48.2
47.4
1984
III
IV
I
3,303.4 3,357.2 3,449.4
3,252.7 3,308.3 3,401.1
2,792.8 2,847.2 2,938.4
2,743.2 2,790.7 2,867.5
2,491.7 2,536.7 2,611.5
251.5 254.0 256.1
53.8
57.7
68.3
-4.1
-1.1
2.6
115.4
115.7
114.8
8.0
7.8
8.2
107.0 107.4 107.5
345.1 345.7 347.0
118.8
118.7 119.5
226.3 227.0 227.4
50.7
48.9
48.3
II
1985
III
3,492.6 3,510.4 3,515.6
3,450.7 3,465.6 3,472.6
2,986.0 2,999.4 3,004.6
2,916.4 2,925.9 2,939.2
2,658.2 2,665.9 2,677.7
258.2 260.0 261.5
71.4
72.8
72.5
-1.8
.7 -7.0
116.7 117.1 118.1
8.5
8.7
8.9
108.3 108.3 109.1
347.9 349.1 349.9
120.0 120.6 121.0
227.9 228.5 228.9
42.0
44.8
43.0
3,547.8
3,508.9
3,039.9
2,964.6
2,701.5
263.1
73.0
2.3
118.5
8.7
109.8
350.4
121.4
229.1
38.9
3,557.4 3,584.1 3,590.8
3,521.2 3,548.6 3,554.7
3,051.1 3,076.7 3,080.6
2,981.8 3,000.8 3,011.4
2,717.0 2,734.1 2,743.0
264.9 266.6 268.4
73.5
73.7
72.7
-4.2
2.3 -3.5
119.4 120.5 122.1
9.0
8.8
9.2
110.5 111.5
112.9
350.7 351.4 352.1
121.5 121.7 121.7
229.2 229.7 230.4
36.2
35.4
36.1
Table 1.9.—Relation of Gross National Product, Net National Product, National Income, and Personal Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1985
1982
I
Gross national product
I
Less: Capital consumption
allowances with capital
consumption adjustment.
Capital consumption
allowances without
capital consumption
adjustment.
Less: Capital
consumption .
adjustment.
2
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
S
4
5
6
II
1983
HI
I
IV
II
1984
III
IV
I
II
1985
IV
III
I
II
III
IV
3,166.0 3,401.6 3,774.7 3,988.5 3,112.6 3,159.5 3,179.4 3,212.5 3 268.7 3 365 1 3 437 5 3 535 0 3 676 5 3 757 5
3 852 5
3 960 6 4 016 9 4 059 3
383.2 399.6 418.9 438.4 373.3 379.8 386.3 393.2 394.5 396.1 403.3 404.4 409.1 416.4 422.5 427.7 430.5 433.8 441.4 447.9
320.9
-62.3
372.5
419.8
-27.1
.8
478.9
306.2
315.4
40.5 -67.1 -64.4
325.6
-60.7
336.2
354.1
-57.0 -40.4
379.4
365.6
-30.5 -23.9
390.7
402.0
411.2
426.8
439.1
457.9
471.0
488.3
498.5
-13.7
-7.2
-5.3
4.3
11.4
27.3
37.3
46.9
50.5
2,782.8 3,002.0 3,355.8 3,550.1 2,739.3 2,779.6 2,793.1 2,819.3 2,874.1 2,969.0 3,034.2 3,130.6 3,267.4 3,341.1 3,389.7 3,424.8 3,487.0 3,526.8 3,575.5 3,611.3
258.8 282.5 310.6 328.4 254.5 256.2 260.1 264.5 267.0 281.1 288.3 293.7 302.4 308.8 314.0 317.4 321.3 329.8 329.8 332.7
7
14.3
15.6
17.3
19.3
13.4
14.1
14.6
15.2
15.3
15.5
15.7
16.1
16.5
17.1
17.6
18.1
18.6
19.1
19.6
20.1
8
9
-.1
8.7
-.6
-1.5
-4.8
6.8
-1.4
4.3
-4.3
-1.2
2.8
-1.9
2.5
-4.7
15.4
10.3
10.8
13.0
21.5
22.0
4.0
7.4
10.7
9.5
2.5
4.4
-3.9
6.7
.8
6.9
-7.6
10.1
1.0
5.6
-3.2
13.9
-.9
9.5
10
11
13.5
2,518.4 2,718.3 3,039.3 3,212.8 2,483.1 2,514.0 2,528.4 2,548.2 2,603.6 2,678.9 2,747.4 2,843.5 2,967.7 3,021.1 3,064.2 3,104.4 3,155.3 3,192.2 3,228.0 3,275.9
150.0 213.8 2733 297.0 149.9 149.6 154.3 146.1 173.4 205.9 228.4 247.6 268.0 277.8 271.2 276.2 281.7 288.1 309.1 309.1
Less: Corporate profits with
inventory valuation and
capital consumption
adjustments.
Net interest
Contributions for social
insurance.
Wage accruals less
disbursements.
12
13
Plus: Government transfer
payments to persons.
Personal interest incomePersonal dividend
income.
Business transfer
payments.
15
16
17
18
14.3
Equals: Personal income
19
14
6.9
2723
269.6
269 1
271.3
273.6
290.8
3002
325.2
287.4
354.9
2730
265.2
-.4
.2
-.2
-1
396.2
426.6
437.4
465.2
374.7
386.4
403.7
420.2
369.7
63.9
385.7
68.0
442.2
74.6
456.3
78.9
367.5
63.6
377.0
63.1
368.0
63.6
366.2
65.4
15.6
17.3
19.3
13.4
14.1
14.6
15.2
0
280.2
268.7
2669
273.0
0
0
2685
284.1
269.4
288.3
2764
292'.4
-1.3
-.4
422.3
429.6
425.6
428.8
433.8
436.4
438.4
371.1
66.5
377.2
66.9
392.1
68.3
402.6
70.2
417.2
72.1
433.6
74.1
456.8
75.3
15.3
15.5
15.7
16.1
16.5
17.1
17.6
18.1
0
0
2803
298'.5
286 9
318'.6
2976
323^2
.2
.2
0
309 5
327'.4
307 0
33L7
302.9
348.0
2924
352'.9
.6
.1
-1.0
441.1
459.0
461.9
468.6
471.1
461.3
76.9
462.8
77.9
460.5
78.7
450.6
79.1
451.4
79.8
18.6
19.1
19.6
20.1
0
281.8
356'.4
272 6
362'.3
0
0
2,670.8 2,836.4 3,111.9 3,293.5 2,614.3 2,655.9 2,683.6 2,729.2 2,752.8 2,805.7 2,852.4 2,934.8 3,033.8 3,083.5 3,144.2 3,186.2 3,240.9 3,280.1 3,298.5 3,354.3
Table 1.10.—Relation of Gross National Product, Net National Product, and National Income in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
I
III
II
IV
I
II
1985
1984
1983
1982
1985
III
IV
I
III
II
IV
I
III
II
IV
Gross national product
1
Less: Capital consumption
allowances with capital
consumption adjustment.
2
3,166.0 3,277.7 3,492.0 3,570.0 3,170.4 3,179.9 3,154.5 3,159.3 3,190.6 3,259.3 3,303.4 3,357.2 3,449.4 3,492.6 3,510.4 3,515.6 3,547.8 3,557.4 3,584.1 3,590.8
383.2 394.0 405.9 423.2 377.7 381.0 384.0 390.0 388.9 391.4 398.3 397.3 400.7 404.2 407.7 411.0 415.2 420.1 426.6 431.2
Equals: Net national product
3
4
2,782.8 2,883.7 3,086.1 3,146.8 2,792.8 2,798.9 2,770.5 2,769.3 2,801.6 2,868.0 2,905.1 2,960.0 3,048.7 3,088.4 3,102.7 3,104.6 3,132.6 3,137.3 3,157.5 3,159.7
264.5 276.5 290.3 297.1 264.1 264.5 263.2 266.1 268.3 274.7 279.4 283.8 287.7 290.5 290.7 292.2 295.8 295.4 298.6 298.5
5
6
2.3 -3.5
2.3 -4.2
.7 -7.0
2.6 -1.8
4.2 -4.1 -1.1
6.7 -1.4
1.0 -3.2
-.8 -4.9
-.1
-.6 -1.4
2,518.5 2,607.8 2,797.2 2,850.5 2,533.6 2,533.4 2,510.6 2,496.5 2,534.7 2,589.1 2,629.9 2,677.3 2,758.4 2,799.7 2,811.3 2,819.4 2,834.6 2,846.1 2,856.6 2,864.7
Less: Indirect business tax and
nontax liability plus
business transfer payments
less subsidies plus current
surplus of government
enterprises.
Statistical discrepancy
Equals: National income
Table 1.11.—Command-Basis Gross National Product in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1985
1982
I
Gross national product
1
Less: Net exports of goods and
services.
Exports
Imports
2
Equals: Gross domestic
purchases.
5
3
4
Plus: Command-basis net
6
exports of goods and services.
7
Command-basis
exports 1.
Imports
8
Equals: Command-basis gross
national product.
9
II
1983
III
I
IV
II
1985
1984
III
IV
I
II
III
IV
I
II
III
IV
3,166.0 3,277.7 3,492.0 3,570.0 3,170.4 3,179.9 3,154.5 3,159.3 3,190.6 3,259.3 3,303.4 3,357.2 3,449.4 3,492.6 3,510.4 3,515.6 3,547.8 3,557.4 3,584.1 3,590.8
26.3 -19.4 -85.0 -108.4
40.4
41.7
11.7
11.7
22.5 -15.0 -36.2 -48.9 -60.6 -90.4 -88.7 -100.2 -71.8 -101.1 -119.8 -140.8
361.9
335.6
349.4
368.8
370.9
455.9
359.9
468.3
374.1
333.7
378.5
336.8
359.5
347.8
336.0
324.3
342.8
320.3
342.4
357.4
353.1
389.3
359.1
408.0
362.7
423.3
366.6
457.0
376.9
465.6
377.3
477.5
368.7
440.5
358.2
459.3
353.5
473.3
359.2
500.0
3,139.7 3,297.1 3,577.0 3,678.4 3,130.0 3,138.2 3,142.9 3,147.6 3,168.1 3,274.3 3,339.7 3,406.2 3,510.0 3,583.0 3,599.1 3,615.8 3,619.6 3,658.5 3,703.8 3,731.7
26.3
-5.4
34.2
42.1
14.6
14.2
28.8
-2.6
361.9
363.3
395.1
386.3
367.9
378.9
362.4
338.4
349.1
354.7
369.1
379.8
385.0
390.3
402.0
402.8
396.3
385.8
381.1
335.6
368.8
455.9
468.3
333.7
336.8
347.8
324.3
320.3
357.4
389.3
408.0
423.3
457.0
465.6
477.5
440.5
459.3
473.3
100.0
104.0
106.5
107.3
98.3
100.1
100.8
100.7
101.8
103.7
104.5
105.8
106.2
106.4
106.7
106.7
107.4
107.7
107.8
-60.8
-82.0
-20.3
-28.2
-38.3 -66.7
-63.6
-74.7
-44.2
-73.5 -92.2 -117.8
382.2
500.0
3,166.0 3,291.6 3,516.2 3,596.4 3,164.2 3,180.3 3,157.5 3,161.7 3,196.8 3,271.7 3,319.4 3,378.0 3,471.7 3,516.3 3,535.5 3,541.2 3,575.4 3,585.0 3,611.6 3,613.8
Addendum:
Terms of trade 2
10
106.4
1. Exports of goods and services deflated by the implicit price deflator for imports of goods and services.
2. Ratio of the implicit price deflator for exports of goods and services to the implicit price deflator for imports of goods and services with the decimal point shifted two places to the right.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
SURVEY OF CURRENT BUSINESS
March 1986
Table 1.12.—Net National Product and National Income by Sector
Table 1.13.—Net National Product and National Income by Sector in
Constant Dollars
[Billions of dollars]
Line
Net national product
1982
1983
Line
1
2,782.8 3,002.0 3,355.8
2
2,731.7 2,951.3 3,307.8
2,275 0 2,462.5 2,784.2
Nonfarm
Nonfarni less housing
Housing
Farm
Statistical discrepancy
4
5
6
7
8
2,220.1 2,424.8 2,728.1
20549 22410 2,525.2
165.3 183.8 202.9
oo q
550
57.6
1
6
15
Households and institutions
Government
9
10
11
Business
Rest of the world
National income
Domestic income
Business
Nonfarm
Nonfarm less housing
Housing
Farm. .
Households and institutions
Government
Rest of the world.
.
[Billions of 1982 dollars]
1984
3
Net domestic product .
63
1127
343.9
1224
366.4
131.9
391.7
51.2
50.7
48.0
12
2,518.4 2,718.3 3,039.3
13
2,467.3 2,667.7 2,991.4
14
2,010.6 2,178.8 2,467.8
15
16
17
18
1 9566 21355 2,405.8
1,835.0 1,998.6 2,253.4
1216 136.9 152.5
61.9
54.0
43.3
19
20
112.7
343.9
122.4
366.4
131.9
391.7
21
51.2
50.7
48.0
Net national product
Net domestic product
Business
Nonfarm
..
Nonfarm less housing
Housing
Farm
Statistical discrepancy
Rest of the world
National income
Domestic income
Business
Nonfarm
Nonfarm less housing
Housing
....
Farm
Households and institutions
Government
Rest of the world
. . . .
1983
1984
1
2,782.8 2,883.7 3,086.1
2
2731 7 28349 3 041 6
3
4
5
6
7
8
22750 23754 25762
9
10
11
Households and institutions
Government
1982
22202 23348 2527 1
2,054.9 2,164 7 2,350 1
1653 1701 177 1
550
41 2
50 5
1
6
14
112.7
3439
114.5
3450
1169
3485
51.2
48.8
445
12
2,518.5 2,607.8 2,797 2
13
2,467.3 2,559.0 2,752.7
14
20107 20995 22873
15
16
17
18
19566 20589 22379
1,835.0 1,933.7 2,107 2
1216 1253 1307
54.0
40.6
494
19
20
1127
343.9
1145
345.0
1169
3485
21
51.2
48.8
44.5
64
SURVEY OF CURRENT BUSINESS
March 1986
Table 1.14.—National Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1982
1985
I
II
1983
III
IV
I
II
1985
1984
HI
IV
I
II
III
IV
I
II
IV
III
National income
1
Compensation of employees
2
3
4
2,518.4 2,718.3 3,039.3 3,212.8 2,483.1 2,514.0 2,528.4 2,548.2 2,603.6 2,678.9 2,747.4 2,843.5 2,967.7 3,021.1 3,064.2 3,104.4 3,155.3 3,192.2 3,228.0 3,275.9
1,907.0 2,025.9 2,221.3 2,372.5 1,879.2 1,899.3 1,918.4 1,931.1 1,962.4 2,001.5 2,041.8 2,097.6 2,160.9 2,204.8 2,241.2 2,278.5 2,320.4 2,356.9 2,385.2 2,427.5
15861 1 6754 18352 19603 15661 15801 15946 16037 16237 16544 16876 17358 17824 1,821.0 1,852.8 18844 19177 19476 19701 20058
305.9 323.8 346.3 370.6 298.6 303.3 307.7 314.0 318.0 321.4 326.1 329.5 338.0 343.3 349.2 354.7 362.6 367.4 372.6 379.7
5
6
1,280.2 1,351.6 1,488.9 1,589.7 1,267.6 1,276.8 1,286.9 1,289.7 1,305.6 1,333.0 1,361.5 1,406.3 1,444.4 1,477.7 1,503.7 1,529.8 1,555.1 1,580.2 1,597.5 1,626.1
320.9 350.5 386.2 412.2 313.1 319.2 323.8 327.4 338.8 347.1 354.3 361.8 378.5 383.8 388.4 394.0 402.7 409.4 415.1 421.7
Wages and salaries
Government and
government enterprises.
Other
Supplements to wages and
salaries.
Employer contributions for
social insurance.
Other labor income .
7
157.3
171.0
192.8
205.8
154.4
156.9
158.2
159.5
167.0
169.6
172.0
175.5
188.9
191.6
194.0
196.8
201.8
204.6
206.7
210.2
8
163.6
179.5
193.4
206.4
158.6
162.3
165.6
168.0
171.8
177.5
182.3
186.3
189.7
192.2
194.4
197.2
200.9
204.8
208.4
211.5
9
175.5
192.3
233.7
242.2
166.2
173.0
174.6
188.3
185.9
187.3
188.8
207.1
240.3
229.1
232.3
232.9
239.4
240.9
237.5
250.9
Farm
Proprietors' income with
inventory valuation
adjustment.
Capital consumption
adjustment.
10
11
24.6
33.9
14.3
23.7
32.1
41.3
21.2
29.9
23.3
32.6
23.6
32.9
22.9
32.2
28.5
38.0
18.7
28.2
11.8
21.3
6.6
16.0
20.0
29.3
44.4
53.6
29.4
38.7
27.8
37.2
26.6
35.8
26.5
35.4
22.8
31.6
12.2
20.9
23.3
31.8
12
-9.3
-9.4
-9.3
-8.7
-9.3
-9.3
-9.3
-9.4
-9.4
-9.5
-9.5
-9.3
-9.2
-9.3
-9.3
-9.2
-8.9
-8.8
^-8.7
-8.5
Nonfarm
Proprietors' incomeInventory valuation
adjustment.
Capital consumption
adjustment.
13
14
15
150.9
148.5
1780
167.7
_9
201.6
183.6
221.0
193.0
143.0
140.2
149.4
147.4
-.6
151.7
149.5
159.8
156.9
167.2
160.8
175.5
165.7
-.4
-.9
182.3
170.9
-1.3
187.1
173.3
-.8
195.9
180.9
-1.3
199.7
182.5
204.5
185.6
206.3
185.4
212.9
188.3
218.1
190.3
225.3
195.3
227.6
197.9
18.5
28.2
3.2
2.5
2.5
3.5
7.0
10.6
12.7
14.6
16.3
17.5
19.0
21.2
24.9
27.9
29.6
30.3
11.9
12.0
15.8
13.3
14.8
11.9
11.0
11.6
11.9
10.0
9.7
11.0
13.8
14.5
15.9
52.7
57.3
55.8
-43.5 -41.1 -40.7
52.8
-40.7
55.1
56.5
-40.7 -41.8
55.9
-41.1
54.1
52.7
-42.2 -41.7
53.3
-41.7
55.1
-43.2
53.7
-43.7
53.8
-44.1
54.3
56.6
-43.4 -42.8
58.1
-43.7
60.3
-44.4
Proprietors' income with
inventory valuation and
capital consumption
adjustments.
16
-.5
2.9
11.2
-.5
-.2
-.4
-.6
-.6
-.3
-.1
-.2
-.3
-.2
.4
-.6
17
13.6
12.8
10.8
18
19
54.4
-40.8
54.4
-41.7
54.0
-43.2
Corporate profits with
inventory valuation and
capital consumption
adjustments.
20
150.0
213.8
273.3
297.0
149.9
149.6
154.3
146.1
173.4
205.9
228.4
247.6
268.0
277.8
271.2
276.2
281.7
288.1
309.1
309.1
Corporate profits with
inventory valuation
adjustment.
21
159.2
195.0
232.3
226.1
164.0
160.7
161.6
150.7
163.7
190.5
207.3
218.7
234.4
241.8
226.5
226.3
220.6
220.9
233.2
229.8
22
23
24
25
26
27
169.6
63.1
106.5
205.0
75.2
129.8
237.6
93.6
144.0
171.7
64.2
107.5
39.6
59.0
65.9
226.8
85.9
140.9
83.5
57.4
171.0
64.0
107.0
66.0
40.9
171.6
64.3
107.3
66.6
40.7
164.1
59.8
104.3
68.5
35.8
167.1
58.9
108.2
69.3
38.9
199.8
73.8
126.0
69.6
56.4
225.4
84.1
141.3
71.1
70.3
227.6
84.0
143.6
73.1
70.6
247.4
99.1
148.3
75.3
73.1
247.4
100.6
146.7
77.5
69.2
227.7
87.4
140.3
78.9
61.3
228.0
87.4
140.6
80.7
60.0
220.0
83.4
136.6
82.0
54.6
218.7
82.3
136.4
83.1
53.3
228.6
87.4
141.1
83.9
57.3
239.8
90.4
149.5
85.0
64.5
-10.4
-3.4
-9.3
-5.6
-1.3
-1.6
.7
2.2
28
-9.2
18.8
29
272.3
30
Rental income of persons with
capital consumption
adjustment.
Rental income of persons
Capital consumption
adjustment.
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits
Inventory valuation
adjustment.
Capital consumption
adjustment.
Net interest .
669
708
781
13.8
14.8
664
41.1
-.6
-7.7
-10.3
-10.0
-13.4
41.0
70.9
-14.1
-11.1
-7.3
-4.5
273.6
300.2
287.4
273.0
280.2
269.1
86.9
138.6
179.7
211.1
85.7
85.6
31
255.0
312.8
358.2
396.8
247.0
32
20.0
67.9
101.6
127.6
33
235.0
245.0
256.6
269.2
-10.0
-5.4
-18.1
-8.9
-13.0
4.7 -10.1
9.7
15.5
21.0
28.9
33.5
36.0
44.8
49.8
61.1
67.2
75.9
79.4
266.9
268.5
269.4
276.4
280.3
286.9
297.6
309.5
307.0
302.9
292.4
281.8
272.6
90.0
86.3
114.5
132.1
144.3
163.6
168.9
177.1
183.8
188.8
198.3
205.8
221.7
218.8
252.3
260.7
260.1
287.1
305.7
319.9
338.6
344.8
354.5
363.3
369.9
380.6
389.5
408.7
408.5
19.3
19.6
23.3
17.9
45.1
62.5
73.2
90.6
93.6
99.6
104.9
108.2
116.3
122.6
137.8
133.7
227.6
232.7
237.4
242.2
241.9
243.2
246.8
248.0
251.2
254.9
258.5
261.8
264.3
266.8
270.9
274.8
-3.4
-9.3
-18.1
290.5
315.0
Addenda:
Corporate profits after tax
with inventory valuation
and capital consumption
adjustments.
Net cash flow with
inventory valuation and
capital consumption
adjustments.
Undistributed profits
with inventory
valuation and capital
consumption
adjustments.
Capital consumption
allowances with
capital consumption
adjustment.
Less: Inventory valuation
adjustment.
Equals: Net cash flow
34
35
-10.4
265.4
-10.0
322.8
-5.4
363.5
-.6
397.4
-7.7
254.7
-10.3
262.6
-10.0
270.7
-13.4
273.4
338.1
-8.9
347.5
-13.0
357.8
-5.6
-1.3
-1.6
360.1
364.6
371.6
.7
2.2
379.9
387.3
4.7 -10.1
404.0
418.6
March 1986
SURVEY OF CURRENT BUSINESS
65
Table 1.15.—National Income by Sector, Legal Form of Organization,
and Type of Income
[Billions of dollars]
Line
National income
Domestic business
Corporate business
Compensation of employees
Wages and salaries
Supplements to wages and salaries
Corporate profits with inventory valuation and capital
consumption adjustments.
Profits before tax
. .
Inventory valuation adjustment
Capital consumption adjustment
Net interest
1984
1
2 518 4 2 718 3 3 0393
2
2,010.6 2,178.8 2,467.8
3
4
5
6
7
1,478.0 1,604.1 1,812.9
1,287 8 13619 1 504.1
1,073.9 1,129.3 1,245.7
214.0 232.6 258.4
121.9 183.0 241.1
141 5
104
-9.2
682
1742
100
18.8
592
205.4
-54
41.0
67.7
12
13
14
15
16
340.6
1140
99.9
14.0
174.0
366.6
122.8
107.2
15.6
190.7
424.3
136.6
119.0
17.6
231.9
17
18
19
. ... 20
21
22
23
24
24.6
33.9
93
1494
146.0
-.5
39
527
14.3
23.7
94
176.4
165.1
-.9
12.2
53 1
32.1
41.3
93
199.8
180.8
-.5
19.4
559
25
26
27
28
29
1524
9.0
7.8
12
1.6
1656
9.8
8.4
14
1.6
184.5
10.9
9.4
15
1.8
Other private business
Compensation of employees
Wages and salaries
Supplements to wages and salaries
Proprietors' income with inventory valuation and capital
consumption adjustments.
Proprietors' income with inventory valuation adjustment
Capital consumption adjustment
Rental income of persons with capital consumption
adjustment.
Rental income of persons
Capital consumption adjustment
Net interest
30
31
32
2.6
-10
13.6
2.6
-1.0
12.8
2.8
-1.0
10.8
33
34
35
544
408
1282
544
41 7
1414
54.0
432
160.9
Government enterprises
Compensation of employees
Wages and salaries
Supplements to wages and salaries
36
37
38
39
39.6
396
329
67
42.6
426
350
7.5
46.1
46.1
380
8.1
Households and institutions
Compensation of employees
Wages and salaries
Supplements to wages and salaries
40
41
42
43
112 7
1127
987
14.0
122 4
1224
1067
15.7
131 9
131.9
1148
17.2
Government
Compensation of employees
Wages and salaries
Supplements to wages and salaries
44
45
46
47
3439
343.9
2729
710
366 4
3664
2887
391 7
391.7
3083
834
48
49
50
.. .. 51
51 2
1
28.0
232
507
1
308
199
Rest of the world
Compensation of employees
Corporate profits
Net interest
151-498 0 - 8 6 - 3 : QL3
1983
8
9
10
11
.
Sole proprietorships and partnerships
Compensation of employees
Wages and salaries
Supplements to wages and salaries
Proprietors' income with inventory valuation and capital
consumption adjustments.
Farm
.
. . .
...
Proprietors' income with inventory valuation adjustment..
Nonfarm
Proprietors' income
Inventory valuation adjustment
Capital consumption adjustment
Net interest
1982
111
48.0
o
32.2
158
66
SURVEY OF CURRENT BUSINESS
March 1986
Table 1.16.—Gross Domestic Product of Corporate Business in Current Dollars and Gross Domestic Product of Nonfinancial Corporate Business in
Current and Constant Dollars
Seasonally adjusted at annual rates
Line
1982
1983
1984
1985
1982
I
II
1983
III
IV
I
II
1985
1984
III
IV
I
II
III
IV
I
II
III
IV
Billions of dollars
Gross domestic product
of corporate business.
Capital consumption
allowances with capital
consumption adjustment.
1
2
3
Net domestic product
4
Indirect business tax and
nontax liability plus
business transfer
payments less subsidies.
5
Domestic income
6
Compensation of
employees.
7
Wages and salaries
8
Supplements to wages
and salaries.
Corporate profits with
9
inventory valuation and
capital consumption
adjustments.
Profits before tax
. .. 10
11
Profits tax liability
Profits after tax
12
Dividends
13
Undistributed
14
profits.
Inventory valuation
15
adjustment.
Capital consumption
16
adjustment.
17
Net interest
Gross domestic product
of financial corporate
business.
18
Gross domestic product
of nonfinancial
corporate business.
19
1,889.9 2,042.7 2,283.6 2,426.3 1,875.9 1,888.1 1,898.7 1,896.9 1,943.4 2,013.5 2,073.7 2,140.2 2,217.7 2,277.5 2,302.1 2,337.0 2,372.5 2,408.7 2,449.1 2,474.7
235.0
245.0
256.6
269.2
227.6
232.7
237.4
242.2
241.9
243.2
246.8
248.0
251.2
254.9
258.5
261.8
264.3
266.8
270.9
274.8
1,654.9 1,797.7 2,026.9 2,157.1 1,648.3 1,655.3 1,661.3 1,654.7 1,701.5 1,770.3 1,826.9 1,892.2 1,966.4 2,022.6 2,043.6 2,075.2 2,108.3 2,141.9 2,178.2 2,200.0
176.9 193.7 214.0 225.7 174.7 175.2 177.5 180.4 182.3 193.0 198.6 200.7 207.3 213.6 216.6 218.7 220.2 226.6 227.2 228.9
1,478.0 1,604.1 1,812.9 1,931.3 1,473.6 1,480.2 1,483.8 1,474.4 1,519.2 1,577.3 1,628.3 1,691.5 1,759.2 1,809.0 1,827.0 1,856.5 1,888.0 1,915.3 1,951.0 1,971.1
1,287.8 1,361.9 1,504.1 1,599.1 1,277.4 1,285.7 1,293.3 1,294.9 1,314.0 1,343.2 1,373.1 1,417.2 1,461.8 1,493.6 1,518.7 1,542.3 1,567.3 1,590.4 1,606.5 1,632.3
1,073.9 1,129.3 1,245.7 1,325.6 1,066.8 1,072.5 1,077.9 1,078.3 1,090.3 1,113.3 1,137.6 1,175.9 1,208.4 1,236.6 1,258.6 1,279.2 1,299.5 1,318.4 1,331.1 1,353.3
214.0 232.6 258.4 273.5 210.6 213.2 215.4 216.6 223.7 229.9 235.5 241.4 253.4 257.1 260.1 263.1 267.8 272.0 275.4 279.0
121.9
183.0
241.1
265.0
123.5
121.5
125.7
117.1
145.9
176.6
195.5
214.1
234.6
248.3
238.1
243.5
250.4
256.4
278.8
274.5
141.5
63.1
78.5
54.3
24.1
174.2
75.2
99.0
61.1
37.9
205.4
93.6
111.8
67.1
44.7
194.8
85.9
109.0
70.7
38.3
145.3
64.2
81.1
53.3
27.7
142.8
64.0
78.8
53.1
25.7
143.0
64.3
78.8
54.6
24.2
135.0
59.8
75.2
56.4
18.8
139.6
58.9
80.7
63.7
17.0
170.4
73.8
96.6
62.2
34.4
192.5
84.1
108.4
64.5
44.0
194.1
84.0
110.1
53.9
56.2
214.0
99.1
114.9
65.0
49.9
217.9
100.6
117.3
67.9
49.3
194.6
87.4
107.1
67.2
39.9
195.3
87.4
108.0
68.4
39.5
188.7
83.4
105.3
65.9
39.5
187.1
82.3
104.8
76.9
27.9
198.3
87.4
110.9
69.8
41.0
205.2
90.4
114.8
70.2
44.7
-.6
-3.4
-9.3
-5.6
-1.3
-1.6
-7.7
-10.3
-10.0
-13.4
18.8
41.0
70.9 -14.1
-11.1
-7.3
-4.5
68.2
59.2
67.7
67.2
72.7
73.0
64.8
107.7
126.8
130.4
144.4
98.5
104.9
109.7
-10.4
-9.2
-10.0
-5.4
-18.1
.7
2.2
4.7
9.7
15.5
21.0
28.9
33.5
36.0
44.8
49.8
61.1
67.2
75.9
62.4
59.3
57.6
59.8
60.1
62.8
67.1
70.3
70.6
70.3
68.5
65.7
64.3
117.6
123.4
128.6
127.1
128.0
129.7
130.5
129.6
131.8
135.5
142.9
147.5
151.6
-8.9
-13.0
-10.1
79.4
1,782.2 1,915.9 2,153.1 2,281.9 1,777.4 1,783.2 1,789.0 1,779.4 1,820.0 1,884.9 1,946.5 2,012.2 2,088.0 2,147.0 2,172.5 2,205.2 2,237.0 2,265.8 2,301.6 2,323.1
223.0
232.1
242.5
253.7
216.1
220.9
225.1
229.7
229.3
230.4
233.8
234.9
237.7
241.0
244.2
247.1
249.3
251.5
255.2
258.8
Capital consumption
allowances with capital
consumption adjustment.
20
Net domestic product
Indirect business tax and
nontax liability plus
business transfer
payments less subsidies.
Domestic income
Compensation of
employees.
Wages and salaries
Supplements to wages
and salaries.
Corporate profits with
inventory valuation and
capital consumption
adjustments.
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed
profits.
Inventory valuation
adjustment.
Capital consumption
adjustment.
Net interest
21
22
1,559.3 1,683.8 1,910.6 2,028.2 1,561.3 1,562.3 1,563.8 1,549.7 1,590.7 1,654.4 1,712.7 1,777.3 1,850.3 1,906.0 1,928.3 1,958.0 1,987.7 2,014.3 2,046.4 2,064.3
187.3 189.3 195.6 201.8 204.6 206.7 208.2 214.2 214.8 216.3
166.9 182.5 202.2 213.4 165.3 165.3 167.2 169.7 171.6 181.8
23
24
1,392.4 1,501.3 1,708.4 1,814.8 1,396.0 1,397.0 1,396.7 1,379.9 1,419.1 1,472.6 1,525.4 1,588.0 1,654.6 1,704.2 1,723.6 1,751.3 1,779.5 1,800.1 1,831.6 1,848.1
1,203.9 1,267.3 1,401.6 1,488.5 1,198.0 1,203.3 1,207.8 1,206.5 1,222.7 1,249.5 1,277.7 1,319.5 1,362.3 1,392.4 1,414.6 1,437.2 1,460.1 1,480.6 1,494.7 1,518.3
25
26
1,004.7 1,051.3 1,161.1 1,234.2 1,000.9 1,004.4 1,007.6 1,005.7 1,015.1 1,036.1 1,059.0 1,095.2 1,126.3 1,153.0 1,172.6 1,192.3 1,210.9 1,227.8 1,238.9 1,259.2
199.3 216.0 240.6 254.2 197.1 198.9 200.3 200.8 207.6 213.4 218.7 224.3 236.0 239.4 242.0 244.9 249.2 252.8 255.8 259.1
27
111.9
160.6
221.1
240.7
118.6
113.6
115.2
100.1
124.8
151.9
173.1
192.5
213.2
227.2
220.0
224.1
229.8
232.2
253.1
247.7
28
29
30
31
32
129.7
46.3
83.4
59.7
23.7
151.5
57.0
94.5
66.5
28.0
186.3
71.7
114.6
72.1
42.5
172.3
61.8
110.5
76.3
34.2
138.8
49.4
89.4
57.8
31.5
133.1
47.8
85.3
57.9
27.4
130.6
46.9
83.7
60.9
22.8
116.3
41.0
75.4
62.2
13.2
117.6
40.9
76.7
68.5
8.2
145.4
55.1
90.3
68.0
22.4
170.2
66.0
104.1
69.5
34.6
172.8
65.9
106.9
59.9
47.0
193.2
76.9
116.3
69.6
46.6
197.5
78.4
119.1
72.5
46.6
177.4
66.1
111.3
72.7
38.6
176.9
65.3
111.6
73.6
38.0
169.6
60.9
108.6
71.7
37.0
164.6
58.0
106.6
83.1
23.5
174.5
63.3
111.2
75.0
36.1
180.6
65.1
115.5
75.5
40.0
-3.4
-9.3
-5.6
-1.3
-1.6
33
-10.4
34
-7.5
35
76.6
-7.7
-10.3
-10.0
-13.4
19.0
40.3
69.0 -12.4
-9.3
-5.4
-2.8
73.4
85.7
85.7
-10.0
-5.4
-.6
79.3
80.2
73.6
73.4
-18.1
-8.9
-13.0
.7
2.2
4.7
10.6
15.9
21.0
28.7
33.0
35.3
43.9
48.8
59.6
65.4
73.9
77.3
71.6
71.3
74.7
75.9
79.2
84.5
89.0
90.1
89.6
87.3
83.8
82.0
-10.1
Billions of 1982 dollars
Gross domestic product
of nonfinancial
corporate business.
Capital consumption
allowances with capital
consumption adjustment.
Net domestic product
Indirect business tax and
nontax liability plus
business transfer
payments less subsidies.
36
37
1,782.2 1,866.9 2,039.3 2,097.1 1,799.1 1,791.7 1,777.8 1,760.2 1,793.1 1,842.5 1,891.2 1,940.8 2,005.0 2,043.0 2,048.2 2,061.0 2,077.3 2,087.2 2,106.9 2,117.1
223.0
229.6
237.1
247.4
219.7
221.9
223.8
226.4
226.8
228.3
231.3
231.9
234.0
236.1
238.2
240.2
242.8
245.9
249.0
251.8
38
39
1,559.3 1,637.3 1,802.1 1,849.8 1,579.4 1,569.9 1,554.0 1,533.8 1,566.2 1,614.2 1,659.9 1,708.9 1,771.0 1,806.8 1,809.9 1,820.8 1,834.5 1,841.3 1,858.0 1,865.3
168.9 173.8 177.5 180.1
182.6 184.9 185.0
186.1
188.1
188.2 190.0 190.6
166.9 175.1 184.7 189.2 166.7 166.7 166.1 168.0
40
1,392.4 1,462.2 1,617.5 1,660.5 1,412.7 1,403.1 1,388.0 1,365.9 1,397.3 1,440.3 1,482.4 1,528.8 1,588.4 1,621.9 1,624.9 1,634.6 1,646.4 1,653.1 1,668.0 1,674.7
Table 1.17.—Auto Output
[Billions of dollars]
Seasonally adjusted at annual rates
Line
Auto output .
1982
1983
1984
1985
1982
I
II
1983
III
IV
1985
1984
I
II
III
IV
I
II
III
IV
I
II
III
IV
1
66.5
88.9
103.4
113.4
58.7
68.4
74.4
64.5
79.4
79.6
96.0
100.5
111.8
95.0
100.5
106.3
119.4
107.7
117.5
108.9
Final sales
Personal consumption
expenditures.
New autos .
Net purchases of used
autos.
Producers' durable
equipment.
New autos
Net purchases of used
autos.
Net exports of goods and
services.
Exports
Imports
Government purchases of
goods and services.
2
3
69.2
73.0
87.4
87.7
101.4
105.0
108.6
114.1
66.7
70.0
66.2
70.2
67.6
72.6
76.1
79.1
77.0
77.6
85.9
86.9
91.5
90.2
95.2
95.8
102.2
102.5
102.4
104.9
100.7
104.4
100.2
108.2
110.2
110.9
108.6
112.5
122.9
126.1
92.4
106.7
4
5
53.3
19.6
66.1
21.6
77.1
28.0
87.2
26.8
51.3
18.7
51.5
18.7
51.7
21.0
58.8
20.2
56.9
20.7
66.4
20.6
67.7
22.6
73.3
22.5
76.7
25.8
77.8
27.1
74.6
29.9
79.1
29.1
82.0
28.9
84.2
28.3
99.6
26.5
83.2
23.5
12.3
17.8
20.6
23.2
12.1
12.2
12.6
12.6
14.1
16.9
18.4
21.7
21.0
21.0
20.6
19.8
21.2
22.4
26.7
22.4
Change in business
inventories of new and used
autos.
New
Used
13
6
7
8
39.9
23.4
31.2
43.5
24.3
25.6
26.0
27.0
29.3
32.2
42.1
42.6
48.7
40.6
24.8
36.2
38.8
40.2
41.3
39.1
-12.1 -13.0 -13.4 -12.9 -12.4 -13.8
-12.5 -13.4 -19.3 -20.3 -11.3
-14.5 -17.8 -19.2 -20.8 -19.4 -20.9 -20.2 -22.0 -18.1
9
-17.4
-19.3
-25.8
-30.3
-16.5
-18.8
3.3
20.6
1.1
-16.9
4.9
30.7
1.6
6.1
36.4
1.6
1.5
2.0
4.8
-8.0
2.2
6.8 -11.6
26
0
1.5
0
2.0
0
3.4
1.4
-7.7
-.2
2.1
.1
7.5 -12.4
.7
.7
16
50.9
71.5
86.5
95.4
42.6
53.0
60.2
47.9
17
28.4
33.3
37.6
45.0
27.5
26.6
28.5
31.1
14
15
2.9
20.3
1.2
-2.7
2.6
19.1
1.1
-17.3
4.2
23.6
1.3
10
11
12
3.3
22.2
1.2
2.5
19.3
1.3
-16.0
-19.1
3.8
19.8
1.3
-18.5
4.0
23.2
1.2
-23.6
-23.0
4.6
23.1
1.3
4.6
28.2
1.3
5.2
28.1
1.6
-25.1
-25.9
4.6
29.7
1.6
-29.3
-23.7
-27.9
-31.3
6.5
37.8
1.4
-38.4
4.9
30.7
1.5
5.0
34.3
1.5
6.3
30.0
1.9
5.7
33.5
1.6
-.2
6.1
9.2
— .9
-5.4
16.5
7.3
12
9.1
.1
-1.5
.6
-9.6
4.2
15.6
.9
6.0
44.4
1.6
2.4
-6.3
4.5
5.2
9.6
2.8
-.4
-6.4
.1
4.8
-.3
4.7
.5
9.3
.3
87
12
0
_1
62.7
63.7
77.2
82.5
94.2
79.3
84.0
88.5
102.8
87.7
97.2
93.9
30.2
33.0
32.6
37.4
35.2
37.6
37.0
40.7
37,2
42.3
49.6
50.8
I
II
III
-7.5
Addenda:
Domestic output of new
autos 1.
Sales of2imported new
autos .
1. Consists of final sales and change in business inventories of new autos assembled in the United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases.
Table 1.18.—Auto Output in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
Auto output
Final sales
Personal consumption
expenditures.
New autos
Net purchases of used
autos.
Producers' durable
equipment.
New autos
Net purchases of used
autos.
Net exports of goods and
services.
Exports
Imports
Government purchases of
goods and services.
Change in business
inventories of new and used
autos.
New
Used
1982
1983
1984
1985
1982
I
II
1983
III
IV
I
II
1985
1984
III
IV
I
II
HI
IV
IV
1
66.5
86.0
97.3
104.0
59.0
68.5
75.3
63.3
77.9
77.7
94.1
94.4
105.3
90.3
94.5
99.1
109.4
99.0
108.4
98.9
2
3
69.2
73.0
84.9
84.2
95.7
96.0
100.1
102.3
67.7
71.2
66.3
70.4
67.0
72.0
75.7
78.3
75.9
75.9
84.1
84.4
88.8
86.3
90.6
90.1
97.2
95.1
97.4
96.2
95.0
94.8
93.4
98.0
102.0
99.2
100.4
100.8
113.5
113,8
84.6
95.2
4
5
53.3
19.6
64.4
19.8
73.0
23.0
80.1
22.2
51.9
19.4
51.6
18.7
51.4
20.6
58.5
19.8
56.0
19.9
65.1
19.2
66.0
20.3
70.5
19.6
73.3
21.8
74.1
22.1
70.6
24.2
74.2
23.8
75.9
23.2
77.5
23.3
91.5
22.3
75.5
19.8
12.3
18.4
22.6
24.1
11.8
12.2
12.6
12.8
14.4
17.3
19.2
22.5
22.6
23.3
23.0
21.6
23.2
23.8
6
7
8
24.8
30.4
-12.5 -12.0
37.8
39.9
-15.2 -15.8
23.6
24.3
25.4
-11.8
-12.2 -12.8
9
-11 A -19.0
-24.4
-16.5
-27.8
-17.3
-18.9
5.5
33.3
1.5
1.2
1.5
3.8
-8.7
2.2
8.3 -12.4
2.0
26
0
1.2
0
1.5
0
2.7
1.1
-8.5
-.3
2.1
.1
9.0 -13.1
7
.7
16
50.9
69.6
81.6
87.2
42.4
53.1
61.2
17
28.4
32.5
35.7
41.3
27.8
26.7
28.3
13
14
15
-2.7
3.3
22.2
1.2
2.4
19.2
1.3
-15.8
4.6
29.0
1.5
2.9
20.3
1.2
3.3
20.6
1.1
-16.8
4.1
23.1
1.3
10
11
12
2.6
19.1
1.1
28.7
25.8
26.6
-13.0 -12.1
-11.4
-18.7
3.7
19.5
1.3
27.2
22.4
31.4
34.8
37.1
38.3
36.7
39.1
-12.2 -12.3 -14.5 -14.9 -16.1
-15.1
39.0
39.2
44.7
-15.8 -15.4 -17.5
36.8
-14.5
-18.0
-22.1
-34.6
3.9
22.6
1.2
-23.3
-22.1
-23.7 -24.3 -27.6
4.4
22.4
1.3
4.4
27.7
1.3
4.9
27.0
1.6
-6.4
5.3
3.8
8.1
-7.1
2.4
-.4
-6.5
.1
5.6
-.2
3.3
.5
7.9
.2
-8.0
.9
46.9
61.6
62.3
76.1
78.3
88.9
30.9
29.7
32.3
31.8
36.0
33.6
4.3
28.0
1.5
4.5
28.8
1.5
-25.8 -28.9
4.6
32.2
1.5
5.6
27.8
1.8
5.1
30.8
1.5
5.8
34.6
1.3
5.7
7.5
-1,4
-5.1
14.3
-.5
-.1
6.6
9
7.4
.1
-1.8
.4
-8.5
3.3
13.6
.7
75.8
79.2
82.6
94.2
80.3
89.5
84.8
35.8
35.0
38.2
34.5
39.0
45.6
46.1
I
II
54.0
54.2
22.5
5.4
39.9
1.5
Addenda:
Domestic
output of new
autos 1.
Sales of2imported new
autos .
1. Consists of final sales and change in business inventories of new autos assembled in the United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases.
Table 1.19.—Truck Output
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1985
1982
I
n
1983
III
IV
1985
1984
I
II
III
IV
I
II
III
IV
Truck output *
1
27.8
35.0
52.5
57.5
28.6
29.8
28.0
24.9
29.0
31.1
36.3
43.5
48.6
49.4
55.9
56.2
55.2
Final sales
Personal consumption
expenditures.
Producers' durable
equipment.
Net exports of goods and
services.
Exports ....
Imports
Government purchases of
goods and services.
2
3
28.2
10.7
34.8
15.6
49.8
19.4
57.2
24.2
29.9
10.9
27.5
10.3
26.8
10.4
28.6
11.3
29.2
12.2
31.5
15.2
36.2
16.2
42.2
18.8
44.8
18.3
48.8
19.4
51.7
19.6
53.8
20.4
55.7
23.2
Change in business
inventories.
4
5
16.5
-2.7
19.4
-3.9
31.3
-5.7
33.9
-6.7
6
7
8
2.5
5.2
3.7
2.0
5.9
3.7
2.5
8.2
4.7
2.7
9.4
5.8
9
-.4
.2
2.7
.3
17.8
-2.9
2.8
5.7
4.0
-1.3
16.8
-3.4
15.7
-2.7
2.7
6.1
3.7
2.0
4.7
3.4
2.3
1.2
15.8
-2.0
2.4
4.3
3.5
-3.7
16.6
-3.0
17.2
-4.5
19.4
-3.3
24.6
-5.0
26.5
-4.9
31.4
-6.9
33.0
-5.2
34.5
-5.9
33.2
-6.6
33.2
-7.2
IV
III
59.2
61.6
58.7
26.3
60.2
24.7
32.8
-5.9
36.5
-7.4
1.8
4.7
3.5
1.8
6.3
3.6
2.1
5.4
3.9
2.2
7.2
3.8
2.4
7.3
5.0
2.2
9.0
4.8
2.6
7.8
4.4
2.8
8.6
4.7
2.5
9.0
5.8
2.6
9.7
5.6
2.6
8.5
5.5
3.0
10.4
6.3
-.2
-.4
.1
1.3
3.8
.6
4.2
2.4
-.5
-.2
.5
1.4
1. Includes new trucks only.
67
68
SURVEY OF CURRENT BUSINESS
March 1986
Table 1.20.—Truck Output in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
l
Truck output
Final sales
Personal consumption
expenditures.
Producers' durable
equipment.
Net exports of goods and
services.
Exports
Imports..
Government purchases of
goods and services.
Change in business
inventories.
1
2
3
4
5
1982
1983
27.8
28.2
10.7
16.5
-2.7
1984
49.3
46.4
18.4
33.9
33.7
15.1
18.8
-3.8
1985
51.8
51.6
22.2
30.6
29.0
-5.4
-6.4
6
7
8
2.5
5.2
3.7
1.9
5.7
3.6
2.3
7.7
4.4
2.4
8.8
5.3
9
-.4
.2
2.9
.2
1982
1983
I
II
III
28.8
30.2
11.0
30.7
27.7
10.4
27.9
26.5
10.4
18.1
2.9
5.9
4.1
-1.4
23.9
28.4
11.2
15.4
16.9
-3.4
-3.0
IV
-2.7
15.6
-1.9
2.7
6.0
3.7
2.0
4.7
3.4
3.1
1.4
2.3
4.2
3.5
-4.5
II
III
IV
I
II
28.3
28.4
11.9
30.2 ,
30.6
14.9
35.0
35.0
15.8
42.0
40.6
18.0
46.7
42.6
17.4
46.2
45.4
18.4
16.0
-2.9
16.6
18.8
-4.3
1985
1984
I
-3.3
23.7
-4.8
25.1
III
29.0
-4.6
-6.5
51.9
47.6
18.5
30.2
-5.1
IV
52.4
49.8
19.1
31.7
-5.3
I
II
50.4
51.0
21.5
48.9
49.1
20.7
30.4
-6.3
III
30.1
-6.8
1.7
4.6
3.4
1.7
6.1
3.5
2.0
5.3
3.7
2.2
7.0
3.7
2.3
6.9
4.7
2.0
8.5
4.5
2.4
7.5
4.0
2.6
7.9
4.3
2.3
8.5
5.4
2.3
9.2
5.1
-.1
-.4
0
1.5
4.1
.8
4.3
2.6
-.6
-.2
IV
52.9
52.7
24.1
29.5
54.9
53.7
22.4
32.4
-6.7
-5.8
2.4
8.2
4.9
2.7
9.4
$.6
.2 ' 1.2
1. Includes new trucks only.
Table 1.21.—Farm Sector Output, Gross Product, and National Income
[Billions of dollars]
Farm output . . .
.
.
Cash receipts from farm marketings and net Commodity Credit
Corporation loans.
Crops
Livestock
Gross rental value of farm housing
Farm products consumed on farms
. .
Other farm income
Change in farm inventories
Crops
Livestock
Less' Intermediate goods and services purchased
Intermediate goods and services, other than rent
Rent paid to nonoperator landlords
Equals* Gross farm product
Less: Capital consumption allowances with capital consumption
adjustment.
Indirect business tax and nontax liability
Plus' Subsidies to operators
Compensation of employees
Wages and salaries
Supplements to wages and salaries
Proprietors' income and corporate profits with
inventory valuation and capital consumption
adjustments.
Corporate profits
Net interest
Line
1982
1983
1984
1
159.0
142.9
142.2
133.2
166.1
140.8
2
3
4
5
6
7
8
9
10
11
12
13
14
15
72.7
703
129
1.0
35
-1.4
-7
-.7
82.0
74.3
7.7
77.0
22.0
63.8
69.4
121
1.0
31
7.1
-6.7
-.5
81.5
75.1
6.4
60.8
22.4
68.0
72.7
11.9
1.0
3.4
9.1
10.8
-1.7
85.9
78.7
7.2
80.2
22.5
16
17
18
19
20
21
22
33
2.4
54.0
10.2
8.7
1.4
25.7
3.3
8.3
43.3
9.9
8.4
1.5
15.6
3.4
7.7
61.9
10.1
8.6
1.5
34.4
23
24
25
24.6
1.1
18.1
14.3
1.3
17.9
32.1
2.3
17.4
Table 1.22.—Farm Sector Output, Gross Product, and National Income
in Constant Dollars
[Billions of 1982 dollars]
Farm output
Cash receipts from farm marketings and net Commodity Credit
Corporation loans.
Crops
Livestock
..
Gross rental value of farm housing
Farm products consumed on farms
Other farm income
Change in farm inventories
Crops
. ..
.
Livestock
Less: Intermediate goods and services purchased
Intermediate goods and services, other than rent
Rent paid to nonoperator landlords
Line
1982
1983
1984
1
159 0
142.9
142 7
132.4
1549
132.4
727
703
129
10
35
-1.4
7
_.7
82.0
743
77
61.5
710
123
10
28
-5.8
50
-.8
80.1
73.8
62
606
718
117
9
31
68
93
-2.5
83.7
771
66
2
3
4
5
6
7
8
9
10
11
12
13
14
Less: Capital consumption allowances with capital consumption
adjustment.
Indirect business tax and nontax liability
Plus* Subsidies to operators
15
770
22.0
62.6
21.4
712
20.8
16
17
33
2.4
Equals* Farm national income
18
540
27
2.0
406
31
2.0
494
Equals* Gross farm product
Table 1.23.—Housing Sector Output, Gross Product, and National
Income
[Billions of dollars]
Housing output 1
Nonfarm housing
Owner-occupied
Tenant-occupied
Farm housing
...
Line
1982
1983
1984
1
3089
2960
218 1
77.9
129
54.9
330.7
318.6
2339
84.7
12.1
55.3
356.9
345.0
2528
92.2
11.9
57.6
254.0
2438
183.7
601
10.2
81.3
275.4 " 299.3
2658 2897
199.3 217.5
66.5
72.1
9.6
9.6
84.8
89.7
2
3
4
5
Less* Intermediate goods and services consumed 2
6
Equals: Gross housing product
Nonfarm housing
Owner-occupied
....
.
Tenant-occupied
Farm housing
Less: Capital consumption allowances with capital consumption
adjustment.
Capital consumption allowances
Less' Capital consumption adjustment
Indirect business tax and nontax liability plus business
transfer payments.
Plus: Subsidies less current surplus of government enterprises
Equals* Housing national income
Compensation of employees
.
Proprietors' income with inventory valuation and
capital consumption adjustments.
Rental income of persons with capital consumption
adjustment.
Corporate profits with inventory valuation and capital
consumption adjustments.
Net interest
.
7
8
9
10
11
12
13
14
15
37.2
40.3
347
466 -475 -494
50.7
54.6
58.6
6.7
18
19
128.7
2.6
7.3
7.3
143.4
2.8
7.5
20
-7.6
-6.6
16
17
7.8
158.9
3.1
7.3
-11.0
21
2.6
2.5
2.8
22
123.9
137.3
156.7
1. Equals personal consumption expenditures for housing less expenditures for other housing
as shown in table 2.4.
2. Equals intermediate goods and services consumed less the value of losses incurred by
lenders due to mortgage defaults.
Table 1.24.—Housing Sector Output, Gross Product, and National
Income in Constant Dollars
[Billions of 1982 dollars]
1
Line
1982
1983
1984
1
308 9
2960
2181
779
129
549
3125
3002
2204
798
123
523
320 0
3083
2265
818
117
516
2684
2589
1950
640
94
84.6
53.8
Housing output
Nonfarm housing
Owner-occupied
Tenant-occupied
Farm housing
2
3
4
5
Less: Intermediate goods and services consumed 2
Equals* Gross housing product
6
7
Nonfarm housing
Owner-occupied
Tenant-occupied
Farm housing
Less: Capital consumption allowances with capital consumption
adjustment.
Indirect business tax and nontax liability plus business
transfer payments.
Plus: Subsidies less current surplus of government enterprises
Equals: Housing national income
8
9
10
11
254 0
2438
1837
601
102
12
81.3
260 2
2504
1878
626
97
83.0
13
50.7
52.0
14
6.7
6.9
7.1
15
128.7
132.0
137.1
1. Equals personal consumption expenditures for housing less expenditures for other housing
as shown in table 2.5.
2. Equals intermediate goods and services consumed less the value of losses incurred by
lenders due to mortgage defaults.
SURVEY OF CURRENT BUSINESS
March 1986
69
2. Personal Income and Outlays
Table 2.1.—Personal Income and Its Disposition
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1985
III
Personal income.,
Wage and salary
disbursements.
1985
1984
1982
IV
III
III
IV
IV
III
IV
2,670.8 2,836.4 3,111.9 3,293.5 2,614.3 2,655.9 2,683.6 2,729.2 2,752.8 2,805.7 2,852.4 2,934.8 3,033.8 3,083.5 3,144.2 3,186.2 3,240.9 3,280.1 3,298.5 3,354.3
1,586.1 1,675.8 1,834.9 1,960.5 1,566.3 1,580.0 1,594.6 1,603.6 1,623.7 1,655.7 1,688.0 1,735.8 1,782.2 1,820.8 1,852.9 1,883.9 1,917.6 1,948.6 1,970.1 2,005.8
511.7
523.0
577.9
607.3
519.3
515.8
509.8
501.8
505.4
513.8
528.0
544.9
562.9
574.3
583.2
591.2
600.1
604.7
607.6
616.9
384.0
384.2
384.4
305.9
397.4
404.2
424.4
324.2
438.9
441.6
469.4
346.1
457.6
468.8
513.6
370.8
389.2
378.5
369.8
298.7
386.5
382.5
378.5
303.2
383.0
386.4
390.7
307.7
377.4
389.3
398.5
314.0
381.7
391.4
408.9
318.1
390.9
400.3
419.0
322.7
401.8
405.6
428.0
326.5
415.1
419.5
441.9
329.6
427.8
428.2
453.2
337.8
436.3
439.1
464.3
343.2
442.6
446.1
474.4
349.2
449.0
453.0
485.5
354.1
453.5
459.8
495.2
362.5
454.9
467.4
508.1
368.4
457.2
471:2
518.7
372.6
464.7
476.8
532.4
379.7
Other labor income
163.6
179.5
193.4
206.4
158.6
162.3
165.6
168.0
171.8
177.5
182.3
186.3
189.7
192.2
194.4
Proprietors' income with
inventory valuation and
capital consumption
adjustments.
175.5
192.3
233.7
242.2
166.2
173.0
174.6
188.3
185.9
187.3
188.8
207.1
240.3
229.1
24.6
150.9
14.3
178.0
32.1
201.6
21.2
221.0
23.3
143.0
23.6
149.4
22.9
151.7
28.5
159.8
18.7
167.2
11.8
175.5
6.6
182.3
20.0
187.1
44.4
195.9
29.4
199.7
13.6
12.8
10.8
14.8
11.9
12.0
15.8
13.3
14.8
11.9
11.0
11.6
63.9
369.7
410.6
68.0
385.7
442.2
74.6
442.2
454.7
78.9
456.3
484.5
63.6
367.5
388.1
63.1
377.0
400.4
63.6
368.0
418.3
65.4
366.2
435.4
66.5
371.1
437.6
66.9
377.2
445.0
68.3
392.1
441.3
70.2
402.6
444.9
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
204.5
221.7
235.7
253.4
195.2
197.3
209.0
216.6
217.4
220.2
222.0
25.2
26.3
15.8
15.5
19.2
23.8
26.0
31.8
30.2
31.8
16.4
54.6
16.6
58.7
16.4
60.8
16.8
66.6
16.3
51.7
16.2
54.8
16.3
55.6
16.6
56.1
16.8
56.7
109.9
13.3
118.9
14.2
126.0
14.9
132.2
15.4
105.7
13.2
108.2
13.2
111.4
13.3
114.2
13.6
116.4
14.0
96.5
104.7
111.1
116.8
92.4
95.0
98.1
100.6
Less: Personal contributions
for social insurance.
112.3
119.8
132.4
149.1
110.8
111.8
113.1
113.5
Less: Personal tax and nontax
payments.
409.3
411.1
441.8
492.7
407.1
414.1
405.0
411.1
Commodity-producing
industries.
Manufacturing
Distributive industries
Service industries
Government and
government enterprises.
Farm
Nonfarm ....
Rental income of persons
with capital consumption
adjustment.
Personal dividend income
Personal interest income
Transfer payments
197.2
200.9
204.8
208.4
211.5
232.9
239.4
240.9
237.5
250.9
27.8
204.5
26.6
206.3
26.5
212.9
22.8
218.1
12.2
225.3
23.3
227.6
11.9
10.0
9.7
72.1
417.2
450.4
74.1
433.6
453.5
75.3
456.8
456.0
76.9
461.3
459.2
77.9
462.8
477.6
78.7
460.5
481.0
79.1
450.6
488.1
79.8
451.4
491.2
227.0
231.3
233.7
236.0
241.8
249.2
250.7
256.5
257.1
23.2
19.9
17.4
15.6
15.0
15.4
16.6
15.8
14.8
14.8
16.6
58.4
16.6
16.5
60.2
16.4
61.1
16.5
61.8
16.5
62.5
16.3
57.7
16.9
65.3
17.0
66.2
16.7
67.0
16.5
118.0
14.2
120.1
14.3
121.2
14.4
124.2
15.0
125.8
15.1
125.9
14.6
128.0
14.8
129.6
15.1
131.4
15.3
133.1
15.5
134.7
15.7
102.3
103.8
105.8
106.8
109.1
110.7
111.3
113.2
114.5
116.1
117.6
119.0
117.1
118.7
120.4
123.0
129.7
131.7
133.4
134.9
146.3
148.3
149.7
152.0
407.4
418.0
404.4
414.4
423.6
433.6
447.5
462.4
501.7
462.4
498.2
508.5
Equals: Disposable personal
income.
2,261.4 2,425.4 2,670.2 2,800.8 2,207.2 2,241.8 2,278.6 2,318.1 2,345.5 2,387.7 2,447.9 2,520.4 2,610.2 2,649.9 2,696.7 2,723.8 2,739.2 2,817.7 2,800.2 2,845.9
Less: Personal outlays
2,107.5 2,292.2 2,497.7 2,671.8 2,052.2 2,080.1 2,122.6 2,174.9 2,205.2 2,271.3 2,319.0 2,373.3 2,428.7 2,487.4 2,515.2 2,559.4 2,608.4 2,650.6 2,697.6 2,730.6
Personal consumption
j
expenditures.
Interest paid by consumers i
to business.
Personal transfer payments
to foreigners (net).
Equals: Personal saving
2,050.7 2,229.3 2,423.0 2,582.3 1,996.3 2,023.8 2,065.6 2,117.0 2,146.0 2,210.1 2,254.9 2,306.3 2,358.6 2,414.4 2,439.0 2,480.1 2,525.0 2,563.3 2,606.1 2,634.8
55.5
61.8
73.3
87.4
54.6
55.0
55.8
56.8
58.3
60.2
63.0
65.9
68.6
71.7
75.1
81.2
85.4
89.3
93.6
1.3
1.0
1.3
2.1
1.3
1.4
1.2
1.1
.9
1.0
1.1
1.2
1.4
1.2
1.2
1.5
2.1
1.8
2.2
2.2
153.9
133.2
172.5
129.0
155.0
161.7
156.0
143.1
140.3
116.4
129.0
147.1
181.6
162.6
181.5
164.5
130.9
167.2
102.6
115.2
77.8
Addenda:
Disposable personal income:
Total, billions of 1982
dollars.
Per capita:
Current dollars
1982 dollars
^....
Population (mid-period,
millions).
Personal saving as
percentage of disposable
personal income.
2,261.5 2,334.6 2,468.4 2,508.8 2,245.7 2,260.9 2,263.4 2,276.1 2,291.3 2,309.0 2,346.9 2,391.3 2,446.8 2,461.8 2,480.5 2,484.4 2,482.7 2,532.2 2,503.1 2,517.1
9,724 10,328 11,263 11,703
9,725 9,942 10,412 10,483
232.5 234.8 237.1 239.3
9,528
9,694
231.7
9,654
9,736
232.2
9,786
9,720
232.9
9,749
233.5
4.6
7.0
7.2
6.8
6.2
10,024 10,182 10,412 10,693 11,050 11,193 11,362 11,447 11,487 11,790 11,687 11,847
9,793 9,846 9,982 10,145 10,358 10,399 10,451 10,441 10,411 10,595 10,447 10,479
234.0 234.5 235.1 235.7 236.2 236.7 237.3 238.0 238.5 239.0 239.6 240.2
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
6.0
4.9
5.3
5.8
7.0
6.1
6.7
6.0
5.9
3.7
4.0
70
SURVEY OF CURRENT BUSINESS
March 1986
Table 2.2.—Personal Consumption Expenditures by Major Type of Product
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1985
1982
I
Personal consumption
expenditures.
Durable goods
Motor vehicles and parts
Furniture and household
equipment.
Other.
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
.
Other nondurable goods
Fuel oil and coal
Other
1
IV
I
II
1984
III
IV
I
II
1985
III
IV
I
II
III
IV
2
252.7
289.6
331.1
361.5
245.1
248.9
252.8
263.8
268.5
285.3
295.3
309.4
321.6
330.2
331.1
341.5
351.5
356.5
376.0
362.0
3
4
108.9
95.7
130.6
107.4
153.8
119.4
168.4
129.0
105.7
92.3
105.7
95.1
108.3
96.4
115.7
99.1
115.9
102.1
129.2
105.4
134.0
109.0
143.1
113.0
150.1
116.1
154.1
118.8
153.6
119.3
157.4
123.5
163.1
125.7
165.4
127.6
183.0
128.6
162.2
134.1
5
48.1
51.7
57.9
64.1
47.1
48.1
48.1
49.0
50.4
50.7
52.2
53.3
55.4
57.3
58.2
60.6
62.7
63.4
64.4
65.7
6
771.0
817.0
872.4
912.2
758.1
762.6
776.7
786.6
792.4
811.7
826.5
837.2
856.6
873.2
876.6
883.1
895.7
910.2
914.5
928.3
398.8
124.4
89.1
158.7
18.6
140.1
422.0
135.2
90.1
169.6
17.5
152.1
451.7
147.4
90.7
182.6
17.9
164.7
474.0
156.0
91.8
190.3
16.1
174.2
388.9
123.4
91.5
154.2
19.0
135.2
396.7
122.8
86.4
156.7
18.4
138.3
402.7
125.0
88.6
160.4
18.9
141.5
407.0
126.5
89.8
163.4
18.2
145.2
413.1
129.4
86.5
163.3
15.7
147.5
419.0
135.0
89.4
168.3
17.6
150.7
426.0
135.5
92.5
172.6
18.5
154.1
430.0
140.9
92.1
174.1
18.3
155.8
440.0
144.4
92.0
180.2
18.9
161.3
449.9
149.1
91.9
182.3
18.2
164.1
457.1
146.4
89.1
184.0
17.8
166.2
459.6
149.7
89.8
184.1
16.8
167.3
465.5
152.8
89.3
188.2
16.1
172.1
472.1
156.3
92.9
188.9
15.4
173.5
475.9
155.7
92.2
190.7
16.0
174.8
482.5
159.4
93.0
193.4
16.7
176.6
13
14
15
16
17
18
19
20
Housing
Household operation
Electricity and gas
Other
Transportation
Medical care
Other
III
2,050.7 2,229.3 2,423.0 2,582.3 1,996.3 J,023.8 2,065.6 2,117.0 2,146.0 2,210.1 2,254.9 2,306.3 2,358.6 2,414.4 2,439.0 2,480.1 2,525.0 2,563.3 2,606.1 2,634.8
7
8
... 9
10
11
12
Services
II
1983
1,027.0 1,122.7 1,219.6 1,308.6
321.1
143.4
72.8
70.6
69.7
217.8
275.1
344.0
155.9
80.2
75.7
74.7
237.4
310.7
371.3
166.0
84.6
81.4
82.1
259.5
340.7
403.1
173.3
88.8
84.5
87.0
280.1
365.2
993.1 1,012.2 1,036.1 1,066.5 1,085.2 1,113.0 1,133.1 1,159.6 1,180.4 1,211.1 1,231.3 1,255.4 1,277.8 1,296.6 1,315.6 1,344.6
313.3 316.9 323.7 330.3 335.4 340.3 346.8 353.6 359.8 367.6 375.5 382.3 389.1 398.1 408.0 417.3
174.4
139.9 142.0 143.7 148.0 149.7 155.6 157.4 160.8 161.4
173.3
166.6 166.9 168.9
174.2 171.1
71.9
79.9
87.5
72.3
72.0
74.8
74.9
82.1
83.9
81.7
87.0
87.6
84.8
84.5
87.2
93.0
70.0
71.7
73.2
74.8
75.7
75.3
67.6
76.9
79.8
81.8
82.4
81.7
85.7
86.9
81.3
84.1
70.4
72.3
72.9
76.1
68.1
69.1
71.1
77.4
79.8
86.7
89.3
81.9
82.3
84.4
85.6
86.2
208.1 214.8 221.3 226.9 230.6 235.2 239.0 244.8 250.0 257.1 262.6 268.1 271.9 278.5 281.8 288.2
263.7 269.5 277.1 290.2 297.1 309.0 313.8 323.0 329.4 338.0 343.9 351.7 357.0 362.7 365.8 375.3
Table 2.3.—Personal Consumption Expenditures by Major Type of Product in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
I
Personal consumption
expenditures.
Durable goods
1
II
III
IV
I
II
1985
1984
1983
1982
1985
III
IV
I
II
III
IV
I
II
III
IV
2,050.7 2,145.9 2,239.9 2,313.0 2,031.2 2,041.0 2,051.8 2,078.7 2,096.4 2,137.2 2,161.8 2,188.1 2,210.9 2,243.0 2,243.4 2,262.0 2,288.6 2,303.5 2,329.6 2,330.4
2
252.7
283.6
318.6
345.3
247.7
249.1
251.8
262.0
264.9
280.8
288.5
300.0
311.0
317.7
318.0
327.6
335.0
340.3
359.3
346.7
3
Motor vehicles and parts
4
Furniture and household
equipment.
Other. . . . . .
. . . . 5
108.9
95.7
127.1
106.2
145.0
118.2
155.7
129.1
107.1
93.2
105.7
95.1
107.6
96.2
115.0
98.4
114.1
101.2
126.8
104.4
130.3
107.7
137.2
111.4
143.1
114.6
145.6
117.3
144.2
118.2
147.2
122.6
150.8
124.7
153.0
127.4
169.5
129.2
149.5
135.0
48.1
50.3
55.4
60.6
47.4
48.3
48.0
48.6
49.6
49.6
50.5
51.4
53.3
54.7
55.5
57.9
59.6
59.9
60.7
62.2
. .. . 6
771.0
800.7
828.0
846.9
764.2
768.3
772.8
778.6
787.0
796.8
806.8
812.0
819.4
832.8
831.2
828.6
839.9
846.7
849.8
851.1
398.8
124.4
89.1
158.7
18.6
140.1
414.3
132.7
93.1
160.5
18.6
141.9
423.0
142.8
95.2
166.9
18.6
148.3
436.0
146.9
95.6
168.4
17.3
151.1
392.5
124.0
89.4
158.4
19.0
139.4
396.9
122.8
89.8
158.8
19.0
139.8
401.3
124.6
87.5
159.4
18.9
140.5
404.6
126.2
89.7
158.2
17.6
140.6
409.7
128.7
92.2
156.5
16.5
140.1
411.4
133.1
92.1
160.2
18.9
141.3
418.6
132.1
93.7
162.4
19.6
142.8
417.4
137.2
94.6
162.9
19.5
143.3
416.5
140.6
95.4
166.8
19.4
147.4
424.4
145.8
95.3
167.3
18.6
148.7
426.6
142.0
95.4
167.1
18.7
148.4
424.7
142.9
94.8
166.3
17.8
148.5
430.1
145.0
95.8
168.9
17.7
151.2
436.8
147.4
95.0
167.5
16.5
151.1
439.5
146.9
95.3
168.2
17.6
150.6
437.8
148.1
96.3
168.9
17.5
151.4
Nondurable goods
Food . . .
. • . 7
8
Clothing and shoes
Gasoline and oil
. . . 9
10
Other nondurable goods
11
Fuel oil and coal
12
Other
Services
Housing
Household operation
Electricity and gas
Other
Transportation
Medical care
Other
13
14
15
16
17
18
19
20
1,027.0 1,061.7 1,093.3 1,120.8 1,019.2 1,023.5 1,027.2 1,038.1 1,044.5 1,059.7 1,066.5 1,076.1 1,080.5 1,092.6 1,094.3 1,105.8 1,113.7 1,116.5 1,120.4 1,132.6
321.1 325.1 332.8 340.2 320.3 320.6 321.2 322.1 322.9 324.0 325.7 327.8 329.8 332.0 333.8 335.4 337.2 339.2 341.2 343.2
143.4 146.1 147.9 150.0 145.0 143.3 142.3 143.1 142.1 145.8 147.6 148.8 146.6 149.6 146.9 148.6 152.7 148.1
148.7 150.4
74.0
76.8
76.2
70.6
71.6
71.4
72.8
75.2
77.4
75.2
74.4
74.4
72.8
73.7
76.1
76.9
81.4
76.5
75.8
75.5
73.5
73.2
70.6
72.9
72.6
71.2
72.1
73.5
72.1 • 72.3
71.4
71.8
71.4
71.4
70.9
70.4
69.7
72.6
72.8
71.7
71.0
69.8
72.2
69.3
69.1
69.6
77.3
77.1
76.6
76.3
74.3
75.1
73.9
69.9
70.2
76.9
74.9
76.7
70.6
69.7
217.8 223.2 229.5 234.2 214.5 217.2 218.7 220.7 221.7 222.8 223.6 224.8 226.4 228.7 230.6 232.1 231.4 233.7 234.7 236.9
275.1 296.7 308.2 319.5 269.3 272.6 275.4 283.2 288.4 297.3 298.6 302.5 303.7 307.2 308.6 313.3
315.8 318.4
319.1 324.7
71
SURVEY OF CURRENT BUSINESS
March 1986
Table 2.4.—Personal Consumption Expenditures by Type of Expenditure
[Billions of dollars]
Line
Personal consumption expenditures
Food and tobacco
1
2
1982
1983
1984
2,050.7 2,229.3 2,423.0
423.5 450.1 481.9
Food purchased for off-premise consumption
(n d )
Purchased meals and beverages 1 (n d.)
Food furnished employees (including military) (n.d.)
Food produced and consumed on farms (n d )
Tobacco products (n.d.)
3
4
5
6
7
278.4
112.9
6.6
1.0
24.7
290.5
123.6
7.0
.9
28.0
309.2
134.0
7.6
.9
30.3
Addenda: Food excluding alcoholic beverages (n.d.)
Alcoholic beverages purchased for off-premise
consumption (n.d.).
Other alcoholic beverages (n.d.)
8
9
349.3
31.7
369.8
33.4
398.6
33.1
Clothing, accessories, and jewelry.,..
Shoes (n d )
Clothing and accessories except shoes 2
Women's and children's (n.d.)
Men's and boys' (n.d.)
Standard clothing issued to military personnel (n.d)
Jewelry
and watches (d.)
Other 3(s.)
Personal care
Toilet articles and preparations (n.d.)...
Barbershops, beauty parlors, baths, and health clubs (s.)
Housing
Uwner-occupied nonlarm dwellings space rent
(s.)
Rental value of farm dwellings (s.)
Other 6 (s.)
Furniture includin mattre es and bed rin s (d
Kitchen and other household appliances 7 (d.)
China, glassware, tableware, and 8utensils (d.)
Other durable house furnishings
(d )
Semidurable house furnishings 9 (n.d.)
Cleaning and polishing preparations, and miscellaneous
household supplies and paper products (n.d).
Stationery and writing supplies (n.d.)
Household utilities
... .. .
Electricity (s.)
Gas (s.)
...
Water and other sanitary services (s.)
Fuel oil and coal (n.d.)
Telephone and telegraph (s.)
Domestic
service (s.)
Other 10 (s )
Medical care
Drug preparations and sundries *1 (n d )
Dentists (s )
Other professional services 12 (s.)
Privately controlled hospitals and sanitariums
Health insurance
Medical care15and hospitalization 14 (s )
Income loss (s )
Workers' compensation 16 (s.) .
13
(s.)
10
17.8
18.9
20.0
11
153.3
167.4
182.6
12
13
14
15
16
17
18
19
18.9
105.4
69.5
35.9
.1
7.1
16.7
5.2
20.3
114.8
76.4
38.5
.1
7.6
18.0
6.5
21.8
125.5
83.8
41.7
.1
8.6
20.0
6.5
20
30.6
34.4
36.3
21
22
18.8
11.7
20.4
14.0
22.0
14.4
23
321.1
344.0
371.3
24
25
26
27
218.1
77.9
12.9
12.1
233.9
84.7
12.1
13.3
252.8
92.2
11.9
14.4
28
272.4
293.9
316.3
29
30
31
32
33
34
21.6
17.7
10.4
21.5
11.4
22.6
23.8
19.7
11.2
24.1
12.3
23.6
26.6
21.7
12.3
26.9
13.4
25.1
35
36
37
38
39
40
41
42
43
5.2
103.2
47.1
25.7
11.8
18.6
35.6
7.9
15.4
5.8
111.0
51.3
28.9
13.3
17.5
37.9
8.1
16.4
6.5
117.0
55.2
29.4
14.5
17.9
39.7
9.0
18.1
44
245.4
267.8
292.6
45
46
47
48
49
50
51
52
53
54
22.1
5.5
54.4
17.4
20.5
110.3
15.1
8.8
2.7
3.6
24.4
6.0
61.2
18.5
23.2
119.9
14.6
9.5
2.3
2.7
26.4
6.8
66.4
19.8
28.7
128.4
16.1
12.2
2.4
1.4
Personal business .
1982
1983
1984
55
56
57
116.3
8.4
8.1
132.6
12.0
9.0
147.4
10.7
10.2
58
41.2
47.7
55.4
59
60
61
62
25.4
18.8
4.9
9.6
26.4
21.7
5.2
10.5
29.5
24.6
5.6
11.4
63
267.6
295.4
326.6
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
...... 79
80
••
81
243.7
53.3
19.6
15.6
20.2
35.4
89.1
1.2
9.1
6.4
3.0
3.0
.4
17.6
.4
1.3
14.7
1.2
270.6
66.1
21.6
20.9
22.0
38.4
90.1
1.2
10.3
6.4
3.1
2.8
.4
18.4
.5
1.2
15.3
1.4
298.8
77.1
28.0
25.4
23.4
42.8
90.7
1.3
10.2
6.8
3.4
2.9
.5
21.0
.6
1.2
17.5
1.6
82
138.3
152.1
166.2
83
84
85
86
6.6
11.4
16.8
19.3
7.2
12.0
18.0
20.4
7.8
12.7
19.8
23.3
.
Brokerage charges and investment counseling (s.)
Bank service charges, trust services, and safe deposit box
rental (s.).
Services furnished without payment by financial
intermediaries except life insurance carriers and private
noninsured pension plans (s.).
Legal services (s.)
Funeral
and burial expenses (s )
Other 1 8 (s)
U
P
d
New autos (d.)
Net purchases of used autos (d.)
Other motor vehicles (d.)
Tires, tubes, accessories, and other parts (d.)
Repair, greasing, washing, parking, storage, and rental (s.)
Gasoline and oil (n.d.)
,
Bridge, tunnel, ferry, and road tolls (s.)
Transit systems (s.)
Taxicab (s )
. . .
Purchased intercity transportation
Railway (excluding commutation) (s.)
Bus (s.)
Airline (s )
Other19 (s.)
Recreation
Books and maps (d.)
Magazines, newspapers, and sheet music (n.d.)
Nondurable toys and sport supplies (n d )
Wheel goods, durable toys, sports equipment, boats, and
pleasure aircraft (d.).
Radio and television receivers, records, and musical
instruments (d.).
Radio and television repair (s )
Admissions to specified spectator amusements
Legitimate theaters and opera, and entertainments of
nonprofit institutions (except athletics) (s.).
Parimutuel net receipts (s.)
Other 23 (s.)
•
Private education and research
Higher education 24 (s.)
•
Elementary and secondary schools 24 (s.)
Other 25 (s.)
_,
°..
,3
j /
y, q
.,
4-
/-
J \
Less: Expenditures in the United States by foreigners (s.)
1. Consists of purchases (including tips) of meals and beverages from retail, service, and
amusement establishments, hotels, dining and buffet cars, schools, school fraternities, institutions, clubs, and industrial lunchrooms.
2. Includes luggage.
3. Consists of watch, clock, and jewelry repairs, costume and dress suit rental, and
miscellaneous personal services related to clothing.
4. Consists of rent for space and for heating and plumbing facilities, water heaters, lighting
fixtures, kitchen cabinets, linoleum, storm windows and doors, window screens, and screen
doors, but excludes rent for appliances, furniture, fuel, and electricity.
5. Consists of space rent (see footnote 4) and rent for appliances, furnishings, and furniture.
6. Consists of transient hotels, motels, clubs, schools, and other group housing.
7. Consists of refrigerators and freezers, cooking ranges, dishwashers, laundry equipment,
stoves, air conditioners, sewing machines, vacuum cleaners, and other appliances.
8. Includes such house furnishings as floor coverings, comforters, quilts, blankets, pillows,
picture frames, mirrors, art products, portable lamps, and clocks. Also includes writing
equipment and hand, power, and garden tools.
9. Consists largely of textile house furnishings including piece goods allocated to house
furnishing use. Also includes lamp shades, brooms, and brushes.
10. Consists of maintenance services for appliances and house furnishings, moving and
warehouse expenses, postage and express charges, premiums for fire and theft insurance on
personal property less claims paid, and miscellaneous household operation services.
11. Excludes drug preparations and related products dispensed by physicians, hospitals, and
other medical services.
12. Consists of osteopathic physicians, chiropractors, private duty nurses, chiropodists, podiatrists, and others providing health and allied services, not elsewhere classified.
13. Consists of (l)current expenditures (including capital consumption allowances with capital
consumption adjustment) of nonprofit hospitals, sanitariums, and nursing homes, and ^payments by patients to proprietary hospitals, sanitariums, and nursing homes.
14. Consists of (1) premiums, less benefits and dividends, for health, hospitalization, and
accidental death and dismemberment insurance provided by commercial insurance carriers, and
(2) administrative expenses (including capital consumption allowances with capital consumption
adjustment) of Blue Cross and Blue Shield plans and of other independent prepaid and self- insured health plans.
15. Consists of premiums, less benefits and dividends, for income loss insurance.
16. Consists of premiums, less benefits and dividends, for privately administered workers'
compensation.
Line
87
24.5
28.6
32.0
88
89
90
91
92
2.8
4.5
7.8
3.3
2.1
2.8
4.8
8.6
3.6
2.4
2.8
5.2
9.4
3.9
2.7
93
94
95
96
97
2.3
3.8
12.5
2.2
26.0
2.6
4.2
13.6
2.3
29.5
2.8
4.4
14.2
2.5
32.1
98
32.6
35.2
37.9
99
100
101
12.1
10.8
9.7
12.8
11.6
10.7
13.7
12.3
11.9
51.5
102
44.4
47.6
103
5.1
8.9
12.4
104
105
106
107
16.3
2.9
13.7
.4
19.0
3.1
12.8
.4
22.0
3.8
12.9
.5
17. Consists of (l)operating expenses of life insurance carriers and private noninsured pension
plans, and (2)premiums, less benefits and dividends, of fraternal benefit societies. Excludes
expenses allocated by commercial carriers to accident and health insurance.
18. Consists of current expenditures (including capital consumption allowances with capital
consumption adjustment) of trade unions and professional associations, employment agency fees,
money order fees, spending for classified advertisements, and other personal business services.
19. Consists of baggage charges, coastal and inland waterway fares, travel agents' fees, and
airport bus fares.
20. Consists of admissions to professional and amateur athletic events and to racetracks
including horse, dog, and auto.
21. Consists of dues and fees excluding insurance premiums.
22. Consists of billiard parlors; bowling alleys; dancing, riding, shooting, skating, and
swimming places; amusement devices and parks; golf courses; sightseeing buses and guides;
private flying operations; and other commercial participant amusements.
23. Consists of net receipts of lotteries and expenditures for purchases of pets and pet care
services, cable TV, film processing, photographic studios, sporting and recreation camps, and
recreational services, not elsewhere classified.
24. Equals current expenditures (including capital consumption allowances with capital
consumption adjustment) less receipts—such as those from meals, rooms, and Entertainments—
accounted for separately in consumer expenditures, and less expenditures for research and
development financed under contracts or grants.
25. Consists of (l)fees paid to commercial, business, trade, and correspondence schools and for
educational services, not elsewhere classified, and (2)current expenditures (including capital
consumption allowances with capital consumption adjustment) by research organizations and
foundations for education and research.
26. Equals current expenditures (including capital consumption allowances with capital
consumption adjustment) of religious, social welfare, foreign relief, and political organizations,
museums, libraries, and foundations. The expenditures are net of receipts—such as those from
meals, rooms, and entertainments—accounted for separately in consumer expenditures, and
excludes relief payments within the United States and expenditures by foundations for
education and research.
NOTE—Consumer durable goods are designated (d.), nondurable goods (n.d.), and services (s.).
SURVEY OF CURRENT BUSINESS
72
March 1986
Table 2.5.—Personal Consumption Expenditures by Type of Product in
Constant Dollars
[Billions of 1982 dollars]
Line
D
Personal consum tion ex enditures
hi
d
Motor vehicles and parts
New autos (65)
Net purchases of used autos (66)
Other motor vehicles (67)
Furniture and household equipment
Furniture, including mattresses and bedsprings (29)
Kitchen and other household appliances (30)
China glassware tableware and utensils (31)
Radio and television receivers, records, and musical
instruments (87).
Other durable house furnishings (32)
Other
Ophthalmic products and orthopedic appliances (46)
Wheel goods, durable toys, sports equipment, boats, and
pleasure aircraft (86).
Jewelry and watches (18)
Books and maps (83)
Nondurable goods
Food
Food purchased for off-premise consumption (3)
Food furnished employees (including military) and food
produced and consumed on farms (5+6).
Addenda* Food excluding alcoholic beverages (8
Alcoholic beverages purchased for off-premise
consumption (9).
Clothing and shoes
Shoes (12)
Women's and children's clothing and accessories except shoes
(14).
Men's and boys' clothing and accessories except shoes
(15+16).
Gasoline and oil (70)
Fuel oil and coal (40)
Other
Tobacco products (7)
Toilet articles and preparations (21)
Semidurable house furnishings (33)
Cleaning and polishing preparations, and miscellaneous
household supplies and paper products (34).
N
n
M t
H norf
nl «; (&%)
Stationery and writing supplies (35)
Net foreign remittances (105 less 107)
Other (84+89)
1
2
3
4
5
6
7
8
9
10
11
12
1982
1983
1984
2,050.7 2,145.9 2,239.9
252.7 283.6 318.6
127.1 145.0
108.9
64.4
73.0
53.3
19.8
23.0
19.6
20.4
24.0
15.6
22.6
25.0
20.2
118.2
95.7 106.2
23.2
25.4
21.6
21.0
17.7
19.1
12.0
10.4
11.0
29.3
34.1
24.5
13
14
15
16
21.5
48.1
5.5
19.3
23.5
50.3
5.8
20.1
25.7
55.4
6.3
22.4
17
18
19
20
21
22
23
16.7
6.6
771.0
398.8
278.4
112.9
7.5
17.8
6.7
800.7
414.3
288.3
118.3
7.7
19.6
7.1
828.0
423.0
292.3
122.9
7.8
24
25
349.3
31.7
364.0
32.2
373.6
31.3
26
27
28
29
17.8
124.4
18.9
69.5
18.0
132.7
20.1
75.0
18.1
142.8
21.4
81.5
30
36.0
37.6
40.0
31
32
33
34
35
36
37
89.1
18.6
140.1
24.7
18.8
11.4
22.6
93.1
18.6
141.9
23.5
19.2
11.6
22.9
95.2
18.6
148.3
23.8
20.1
12.1
23.8
38
39
40
41
42
22.1
16.8
5.2
2.4
15.9
22.5
18.0
5.5
2.7
16.0
22.6
19.9
6.1
3.3
16.6
NOTE.—The figures in parentheses are the line numbers of the corresponding items in table
2.4.
Line
43
44
45
46
47
Rental value of farm dwellings (26)
48
Other (27)
49
Household operation
. ...
50
Electricity (37)
51
Gas (38)
52
Water and other sanitary services (39)
53
54
Domestic service (42)
55
Other (43)
56
Transportation
57
User-operated transportation (69+71+72)
58
59
Transit systems (74)
60
Other (75+76)
61Purchased intercity transportation
62
63
Bus (79)
64
Airline (80)
65
Other (81)
66
67
Physicians (47)
68
Dentists (48)
69
Other professional services (49). ..
70
Privately controlled hospitals and sanitariums (50)
71
Health insurance (51)
72
Other
73
Personal care
74
Cleaning, storage, and repair of clothing and shoes (17)
Barbershops, beauty parlors, baths, and health clubs (22) ...... 75
76
Other (19)
77
Personal business
78
Brokerage charges and investment counseling (56)
79
Bank service charges, trust services, and safe deposit box
rental (57).
80
Services furnished without payment by financial
intermediaries except life insurance carriers and private
noninsured pension plans.
Other (59+60+61+62)
.
. . . . . . 81
82
A/i
f
'f H
t t
pnts (90)
83
84
Other (88+94+95+96+97)
85
86
Higher education (99)
87
Elementary and secondary schools (100)
88
Other (101)
89
Religious and welfare activities (102)
90
Net foreign travel (104 less 106)
Services
.. ..
Housing
Owner-occupied nonfarm dwellings — space rent (24)
1982
1983
1984
1,027.0 1,061.7 1,093.3
321.1 325.1
332.8
218.1 220.4 226.5
77.9
81.8
79.8
11.7
12.9
12.3
12.1
12.8
12.6
143.4
147.9
146.1
47.1
50.3
49.7
25.7
24.7
24.9
12.6
11.8
12.3
35.6
35.7
34.5
8.9
7.9
8.1
16.8
15.4
15.7
69.7
74.9
70.6
49.9
45.7
47.0
6.4
6.3
6.2
3.0
3.1
3.0
3.2
3.3
3.2
18.7
17.6
17.3
.5
.4
.5
1.0
1.3
1.1
15.6
14.7
14.4
1.2
1.3
1.5
217.8 223.2 229.5
54.4
57.6
56.8
17.2
17.4
17.4
25.9
20.5
21.9
113.6
110.3 112.4
15.2
14.8
15.1
275.1 296.7 308.2
24.0
26.8 '26.8
7.8
7.1
7.2
11.7
13.4
13.2
5.9
5.2
6.2
127.1
116.3 124.4
11.3
8.4
12.4
8.0
8.2
8.1
41.2
45.4
46.7
58.6
55.2
7.8
47.4
32.6
12.1
10.8
9.7
44.4
2.7
58.7
58.7
8.0
50.6
33.8
12.1
11.2
10.5
46.3
6.8
60.9
60.3
8.2
52.1
35.1
12.2
11.7
11.2
48.3
10.5
SURVEY OF CURRENT BUSINESS
March 1986
73
Table 2.6.—Personal Income by Type of Income
[Billions of dollars]
Wage and salary disbursements
Year and
month
Personal
income
Commodity-producing
All
industries
Total
Manufacturing
Distributive
Service
Government and
government
enterprises
Other
labor
income
Proprietors' income
Rental
with inventory
income of
valuation and
persons
Personal Personal Transfer
capital
paycapital dividend interest
consumptionadjust- with
income
ments
consumpincome
ments
tion
Farm
Nonfarm adjustment
Less:
Personal Addendum:
Total
contribunonfarm1
tions for
income
social
insurance
1982
1983
1984
2,670.8
2,836.4
3,111.9
1,586.1
1,675.8
1,834.9
511.7
523.0
577.9
384.0
397.4
438.9
384.2
404.2
441.6
384.4
424.4
469.4
305.9
324.2
346.1
163.6
179.5
193.4
24.6
14.3
32.1
150.9
178.0
201.6
13.6
12.8
10.8
63.9
68.0
74.6
369.7
385.7
442.2
410.6
442.2
454.7
112.3
119.8
132.4
2,618.7
2,795.3
3,053.3
1985
3,293.5
1,960.5
607.3
457.6
468.8
513.6
370.8
206.4
21.2
221.0
13.8
78.9
456.3
484.5
149.1
3,246.1
1982
January
February
March
April
May ...
June
July
August
September
October
November
December
2,600.8
2,616.0
2,626.1
2,642.4
2,660.7
2,664.7
2,679.9
2,681.4
2,689.6
2,708.4
2,732.3
2,746.9
1,560.2
1,568.9
1,569.7
1,570.6
1,583.2
1,586.3
1,593.4
1,596.3
1,594.1
1,598.4
1,601.2
1,611.3
518.5
520.5
518.8
515.2
516.9
515.3
512.8
510.1
506.5
502.9
500.8
501.9
388.6
390.4
388.6
386.0
387.0
386.6
384.9
383.1
380.9
377.7
376.9
377.6
376.9
379.5
379.0
379.4
383.8
384.4
385.3
387.7
386.3
387.5
388.5
391.9
367.4
370.3
371.8
374.3
379.4
381.8
387.2
391.6
393.2
395.7
398.0
401.9
297.4
298.5
300.1
301.7
303.2
304.8
308.0
306.9
308.1
312.3
314.0
315.6
157.4
158.7
159.8
161.1
162.3
163.4
164.6
165.6
166.5
167.2
168.0
168.7
22.4
23.5
24.0
23.8
23.8
23.3
22.4
22.0
24.4
27.4
30.1
28.1
143.4
141.5
144.0
147.3
150.2
150.6
150.6
151.4
153.0
156.6
160.2
162.6
15.5
14.9
13.8
12.7
11.7
11.3
11.1
11.6
13.3
16.1
17.2
13.9
63.8
63.5
63.4
63.2
63.1
63.0
63.2
63.6
64.0
64.7
65.5
66.1
363.5
367.5
371.3
376.8
378.4
376.0
372.1
367.0
364.9
363.4
365.5
369.8
384.8
388.6
391.0
398.1
400.0
403.2
415.4
417.2
422.3
427.8
438.0
440.3
110.3
110.9
111.1
111.2
112.0
112.3
113.0
113.3
113.0
113.3
113.4
113.9
2,552.0
2,565.8
2,575.1
2,591.3
2,609.5
2,613.8
2,629.7
2,631.5
2,637.3
2,653.0
2,674.3
2,691.0
1983
January
February
March.. .
April
May
June
July
August
September
October
November
December
2,749.8
2,745.4
2,763.3
2,780.8
2,810.4
2,825.9
2,842.1
2,845.5
2,869.6
2,909.1
2,933.9
2,961.3
1,622.1
1,618.7
1,630.3
1,641.2
1,659.1
1,666.9
1,680.1
1,685.4
1,698.5
1,725.6
1,733.3
1,748.6
506.0
504.0
506.0
509.8
513.5
517.9
523.2
526.2
534.4
539.9
545.1
549.6
380.3
380.9
383.8
387.4
391.0
394.2
398.4
400.2
406.8
411.0
415.5
418.9
391.0
389.2
394.0
396.9
400.3
403.6
406.8
403.9
406.0
418.0
418.2
422.4
408.1
407.4
411.1
414.2
420.0
422.8
426.2
426.5
431.2
439.7
440.4
445.4
317.0
318.0
319.2
320.3
325.3
322.6
323.9
328.8
326.8
328.0
329.5
331.2
170.2
171.7
173.5
175.7
177.5
179.2
181.0
182.3
183.5
185.1
186.3
187.4
23.7
18.7
13.9
12.8
10.5
12.1
8.6
8.0
3.1
12.7
20.2
27.1
165.8
166.5
169.3
172.5
175.5
178.4
181.7
179.7
185.5
186.9
186.4
188.0
15.0
12.7
12.2
13.8
15.1
15.6
15.2
7.5
13.2
11.8
10.7
10.4
66.4
66.5
66.6
66.6
67.0
67.1
67.7
68.4
69.0
69.6
70.2
70.7
369.7
370.1
373.6
373.9
377.1
380.6
386.2
392.5
397.5
400.5
402.6
404.6
434.1
437.2
441.4
442.3
447.4
445.4
441.9
441.8
440.2
439.4
447.0
448.1
117.1
116.8
117.4
118.0
118.8
119.4
120.1
120.1
121.0
122.6
122.8
123.6
2,698.6
2,699.3
2,722.3
2,740.9
2,773.0
2,787.1
2,806.9
2,810.8
2,839.9
2,869.9
2,887.2
2,907.8
1984
January
February
March
April ... .
May
June
July
August
September
October
November
December
3,004.5
3,039.2
3,057.7
3,072.8
3,079.1
3,098.7
3,124.1
3,143.1
3,165.5
3,167.2
3,184.0
3,207.4
1,770.6
1,782.4
1,793.5
1,814.8
1,816.7
1,830.9
1,842.8
1,849.4
1,866.3
1,866.7
1,883.5
1,901.5
557.5
564.3
567.0
572.1
573.2
577.6
580.3
583.7
585.5
586.9
590.5
596.2
423.9
428.4
431.1
435.3
435.5
438.1
440.7
443.2
443.9
445.9
448.5
452.6
426.6
427.1
430.9
437.3
437.6
442.2
445.2
444.2
449.0
448.1
454.3
456.6
450.6
453.1
456.0
464.0
462.7
466.2
470.2
472.2
480.7
479.4
484.5
492.7
335.9
337.9
339.6
341.4
343.2
344.9
347.1
349.4
351.1
352.4
354.1
355.9
188.9
189.8
190.3
191.4
192.3
193.0
193.7
194.4
195.1
196.1
197.2
198.4
37 .8
49.0
46.5
31.1
29.2
27.8
29.3
28.6
25.6
23.0
23.1
33.7
193.1
196.8
197.8
199.1
199.6
200.4
202.9
204.3
206.4
206.2
205.4
207.4
11.0
11.7
12.1
12.2
12.1
11.5
10.6
9.9
9.5
9.6
9.7
9.8
71.3
72.1
73.0
73.8
74.1
74.5
74.8
75.0
76.2
76.6
76.9
77.2
411.3
417.4
423.0
428.0
433.3
439.5
448.7
457.2
464.4
463.0
461.1
459.9
449.6
449.8
451.7
453.8
453.2
453.4
454.2
457.4
456.2
460.1
462.0
455.4
129.1
129.7
130.3
131.5
131.4
132.2
133.0
133.2
134.2
134.0
134.9
135.9
2,940.2
2,963.8
2,984.7
3,015.2
3,023.3
3,044.4
3,068.3
3,087.9
3,113.1
3,117.4
3,134.0
3,146.7
3,217.3
3,247.2
3,258.2
3,288.6
3,271.2
3,280.5
3,290.0
3,295.5
3,309.9
3,330.8
3,347.9
3,384.3
1,905.4
1,916.5
1,930.9
1,940.5
1,946.8
1,958.5
1,959.8
1,969.3
1,981.2
1,991.5
2,003.6
2,022.2
599.7
598.0
602.6
603.2
605.1
605.8
605.0
608.0
609.9
614.8
614.7
621.0
454.1
451.4
455.0
453.9
455.0
455.8
455.5
457.6
458.3
463.2
463.1
467.9
455.2
460.5
463.9
463.8
467.3
471.0
469.1
470.6
473.9
473.9
476.8 479.7
490.0
495.3
500.2
504.5
506.9
512.8
514.9
518.0
523.1
526.9
531.8
538.4
360.5
362.7
364.2
369.0
367.4
369.0
370.8
372.7
374.3
375.8
380.3
383.0
199.7
200.9
202.2
203.5
204.8
206.1
207.3
208.5
209.5
210.5
211.5
212.4
22.7
32.9
23.8
40.4
14.4
13.8
12.2
11.6
12.9
17.5
21.0
31.4
210.4
213.1
215.2
216.9
218.6
218.8
222.1
224.8
228.9
227.2
226.9
228.7
10.3
10.9
11.7
12.8
13.9
14.9
15.5
16.2
11.7
16.0
13.9
17.8
77.5
77.9
78.3
78.6
78.7
78.8
78.9
79.1
79.2
79.4
79.9
80.1
461.7
463.0
463.8
462.7
461.0
457.9
453.3
449.8
448.6
450.1
451.7
452.4
475.1
478.2
479.5
480.9
481.2
480.9
490.0
486.0
488.4
489.8
491.4
492.5
145.5
146.2
147.2
147.6
148.1
149.1
149.1
149.7
150.4
151.1
151.9
153.1
3,168.0
3,188.0
3,208.2
3,221.9
3,230.5
3,240.5
3,251.9
3,258.1
3,271.2
3,287.5
3,301.0
3,326.9
1985
January
February
March
April
May
June ..
July
August
September
October
November......
December
1. Equals personal income less the following farm components: wages and salaries, other labor income, proprietors' income with inventory valuation and capital consumption adjustments, and
net interest. These farm components plus employer contributions for social insurance and farm corporate profits with inventory valuation and capital consumption adjustments equal farm national
income shown annually in table 1.21.
SURVEY OF CURRENT BUSINESS
74
March 1986
Table 2.7.—Personal Income and Its Disposition
Disposable personal income
Billions of dollars
Year and
month
Personal
income
Less:
Personal
tax and
nontax
payments
Per capita
Less: Personal outlays
Equals:
Disposable
personal
income
Total
Personal
consumption
expenditures
Personal
Interest paid
transfer
by
payments
to
consumers
foreigners
to business
(net)
Equals:
Personal
saving
Total,
billions of
1982 dollars
Current
dollars
1982 dollars
Population
(mid-period,
millions )
Personal
saving as a
percent of
disposable
personal1
income
(percent)
1982
1983
1984
2,670.8
2,836.4
3,111.9
409.3
411.1
441.8
2,261.4
2,425.4
2,670.2
2,107.5
2,292.2
2,497.7
2,050.7
22293
2,423.0
55.5
61.8
73.3
1.3
1.0
1.3
153.9
133.2
172.5
2,261.5
2,334.6
2,468.4
9,724
10,328
11,263
9,725
9,942
10,412
232.5
234.8
237.1
6.8
5.5
6.5
1985
3,293.5
492.7
2,800.8
2,671.8
2,582.3
87.4
2.1
128.9
2,508.8
11,703
10,483
239.3
4.6
1982
January
February
March
April
May
June
July
August
September
October
November
December
2,600.8
2,616.0
2,626.1
2,642.4
2,660.7
2,664.7
2,679.9
2,681.4
2,689.6
2,708.4
2,732.3
2,746.9
402.7
409.4
409.2
404.0
415.9
422.5
403.0
405.7
406.4
408.5
410.6
414.2
2,198.0
2,206.6
2,216.9
2,238.4
2,244.8
2,242.3
2,276.9
2,275.6
2,283.2
2,299.8
2,321.7
2,332.7
2,033.5
2,062.5
2,060.6
2,064.1
2,088.0
2,088.3
2,105.7
2,121.9
2,140.1
2,157.9
2,178.7
2,188.1
1,977.7
2,006.6
2,004.6
2,008.0
2,031.6
2,031.7
2,049.0
2,065.0
2,082.8
2,100.4
2,120.9
2,129.7
54.6
54.6
54.5
54.7
55.0
55.3
55.6
55.8
56.1
56.3
56.7
57.4
1.3
1.4
1.4
1.4
1.4
1.4
1.2
1.2
1.2
1.2
1.1
1.1
164.5
144.1
156.4
174.3
156.8
153.9
171.2
153.7
143.1
141.9
143.0
144.5
2,240.1
2,244.3
2,252.8
2,272.9
2,264.3
2,245.7
2,267.2
2,261.6
2,261.5
2,264.8
2,278.5
2 ,285.2
9,495
9,525
9,562
9,647
9,667
9,648
9,788
9,773
9,796
9,859
9,944
9,984
9,677
9,688
9,717
9,796
9,751
9,662
9,746
9,713
9,703
9,708
9,759
9,780
231.5
231.7
231.8
232.0
232.2
232.4
232.6
232.9
233.1
233.3
233.5
233.6
7.0
7;0
7.1
7.3
7.2
7.1
7.0
6.8
6.4
6.2
6.2
6.2
1983
January
February
March.
April
May
June
July
August
September
October
November
December
2,749.8
2,745.4
2,763.3
2,780.8
2,810.4
2,825.9
2,842.1
2,845.5
2,869.6
2,909.1
2,933.9
2,961.3
404.7
407.3
410.1
409.2
420.6
424.4
401.9
404.3
407.2
412,0
413.7
417.4
2,345.1
2,338.1
2,353.2
2,371.7
2,389.8
2,401.5
2,440.2
2,441.2
2,462.4
2,497.2
2,520.1
2,543.9
2,197.5
2,198.4
2,219.6
2,246.5
2,272,9
2,294.4
2,307.9
2,321.6
2,327.5
2,355.8
2,368.5
2,395.8
2,138.8
2,139.3
2,159.8
2,186.0
2,211.8
2,232.4
2,244.7
2,257.4
2,262.6
2,289.7
2,301.5
2,327.6
57.7
58.2
58.9
59.5
60.1
61.0
62.1
63.0
63.8
64.9
65.9
67.0
1.0
.9
.9
1.0
1.0
1.0
1.1
1.1
1.1
1.2
1.1
1.2
147.6
139.8
133.6
125.1
116.9
107.2
132.3
119.6
134.9
141.4
151.7
148.1
2,291.4
2,285.4
2,297.2
2,299.9
2,310.4
2,316.6
2,348.3
2,341.4
2,351.0
2,377.2
2,390.0
2,406.6
10,030
9,993
10,050
10,121
10,191
10,232
10,388
10,383
10,463
10,602
10,692
10,785
9,800
9,768
9,811
9,815
9,852
9,871
9,997
9,958
9,990
10,093
10,140
10,203
233.8
234.0
234.1
234.3
234.5
234.7
234.9
235.1
235.3
235.5
235.7
235.9
6.2
6.0
5.6
5.3
4.9
4.9
4.9
5.3
5.4
5.7
5.8
5.9
1984
January
February
March
April
May
June
July. . .
August
September
October
November
December
3,004.5
3,039.2
3,057.7
3,072.8
3,079.1
3,098.7
3,124.1
3,143.1
3,165.5
3,167.2
3,184.0
3,207.4
419.3
424.5
426.9
429.7
432.7
438.3
443.3
446.4
452.8
455.2
462.3
469.7
2,585.2
2,614.8
2,630.8
2,643.0
2,646.4
2,660.4
2,680.8
2,696.7
2,712.7
2,712.0
2,721.7
2,737.8
2,434.6
2,418.9
2,432.5
2,469.7
2,489.9
2,502.4
2,501.6
2,506.3
2,537.9
2,530.1
2,564.3
2,583.7
2,365.7
2,348.6
2,361.6
2,398.1
2,416.9
2,428.2
2,426.3
2,429.9
2,460.7
2,451.7
2,485.1
2,503.4
67.6
68.9
69.4
70.3
71.8
73.0
74.1
75.2
76.0
76.8
77.7
78.8
1.3
1.4
1.5
1.3
1.2
1.2
1.2
1.2
1.2
1.5
1.5
1.5
150.5
195.9
198.3
v
173.3
156.5
158.0
179.2
190.4
174.8
182.0
157.3
154.1
2,432.1
2,450.0
2,457.9
2,460.8
2,459.6
2,465.1
2,476.7
2,479.5
2,485.4
2,480.0
2,481.1
2,492.0
10,952
11,069
11,129
11,173
11,179
11,229
11,305
11,362
11,419
11,406
11,438
11,497
10,303
10,372
10,398
10,402
10,389
10,405
10,445
10,447
10,462
10,430
10,426
10,465
236.1
236.2
236.4
236.6
236.7
236.9
237.1
237.3
237.6
237.8
238.0
238.1
6.4
7.0
7.2
6.7
6.1
6.2
6.6
6.7
6.7
6.3
6.0
5.7
1985
January
February
March.
April
Mav
June
July
August .. ..
September....
October
November
December
3,217.3
3,247.2
3,258.2
3,288.6
3,271.2
3,280.5
3,290.0
3,295.5
3,309.9
3,330.8
3,347.9
3,384.3
468.8
503.2
533.1
479.8
413.7
493.6
494.1
498.0
502.6
504.8
508.2
512.5
2,748.6
2,744.0
2,725.1
2,808.8
2,857.5
2,786.9
2,795.9
2,797.5
2,807.3
2,826.0
2,839.7
2,871.8
2,592.3
2,617.7
2,615.0
2,630.0
2,663.0
2,658.7
2,665.6
2,697.4
2,729.9
2,706.0
2,719.3
2,766.5
2,510.3
2,534.6
2,530.2
2,544.0
2,575.5
2,570.4
2,575.5
2,606.2
2,636.6
2,611.1
2,623.6
2,669.8
79.9
81.1
82.7
84.1
85.6
86.5
87.9
89.0
91.0
92.7
93.6
94.5
2.1
2.1
2.1
1.8
1.8
1.8
2.2
2.2
2.2
2.2
2.2
2.2
156.2
126.2
110.1
178.8
194.5
128.2
130.3
100.1
77.4
120.0
120.4
105.3
2,501.8
2 ,487.1
2,459.4
2,530.9
2,567.1
2,498.5
2,504.0
2,501.4
2,504.2
2,510.9
2,510.3
2,530.1
11,533
11,506
11,420
11,762
11,957
11,652
11,679
11,675
11,706
11,774
11,822
11,947
10,498
10,429
10,307
10,598
10,742
10,446
10,460
10,440
10,442
10,461
10,450
10,525
238.3
238.5
238.6
238.8
239.0
239.2
239.4
239.6
239.8
240.0
240.2
240.4
5.3
4.8
5.0
5.8
5.9
5.4
4.3
3.7
3.5
3.8
4.0
4.1
,
1. Monthly estimates equal the 3-month moving average of personal saving as a percentage of the 3-month moving average of disposable personal income.
75
SURVEY OF CURRENT BUSINESS
March 1986
Table 2.8 —Personal Consumption Expenditures by Major Type of
Product
Table 2.9.—Personal Consumption Expenditures by Major Type of
Product in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Year and
month
Personal
consumption
expenditures
Durable goods
Nondurable goods
Services
Year and
month
Services
771.0
800.7
828.0
1,027.0
1,061.7
1,093.3
1985
2 313 0
345.3
846.9
1,120.8
2,015.6
2,040.9
2,037.1
2 038 9
2,049.2
2,034.8
2,040 2
2,052.2
2,063.0
2,068.4
2,081.4
2,086.4
242.2
251.3
249.7
2450
257.5
244.9
246.8
248.7
259.8
252.1
265.5
268.4
757.2
770.5
765.0
769.4
771.0
764.6
769.4
775.8
773.3
779.2
776.1
780.6
1,016.1
1,019.1
1,022.4
1,024.6
1,020.7
1,025.3
1,024.0
1,027.8
1,029.9
1,037.1
1,039.8
1,037.4
252.7
2896
331.1
771.0
817 0
872.4
1,027.0
1 1227
1,219.6
1982
1983
1984
1985...
2 582 3
361 5
9122
13087
Nondurable goods
252.7
283.6
318.6
2,050.7
22293
2,423.0
1985
January
February
March
April
May
June .
July
August
September
October
November
December
Durable goods
2 050.7
2,145.9
22399
1982
1983
1984
1982
January
February
March
April
May
June .
July
August
September
October
November
December
1983
January
February
March
April
May
June
July
August
September
October
November..;...
December
1984
January
February
March
April
May
, y
June
July
August
September
October
November
December
Personal
consumption
expenditures
. ..
1,977.7
2,006.6
2 004 6
2,008.0
2,031.6
2 031 7
2,049.0
20650
2,082.8
21004
2,120.9
2,129.7
239.2
248.6
2474
243.6
257.5
2457
248.1
2496
260.7
2540
267.0
270.6
752.1
764.9
757 2
757.8
7641
7658
773.7
7789
777.4
7860
785.1
788.8
986.5
993.0
10000
l'o06.6
1,010.0
10202
1,027.2
10365
1,044.7
10604
1,068.8
1,070.4
1982
January
February
March
April
May
June
July .
August
September
October
November
December
2,138.8
2,139.3
2,159.8
21860
2,211.8
22324
2,244.7
22574
2,262.6
22897
2,301.5
2,327.6
267.1
265.1
273.2
2785
284.7
2928
294.0
2967
295.1
3040
305.6
318.5
790.7
790.4
795.9
8010
814.8
8193
825.1
8269
827.6
8377
840.9
833.0
1,081.0
1,083.7
1,090.7
1 1065
1,112.3
1 1203
1,125.7
1 1337
1,139.9
1 1479
1,154.9
1,176.1
1983
January
February
March
April
May
June .
July
August
September
October
November
December
2,089.9
2,091.1
2,108.4
2,119.9
2 138 3
2,153.4
21602
2,165.1
2,160.2
2,179.7
2,182.6
2,202.0
264.3
261.6
269.0
274.1
2805
287.7
2884
289.7
287.4
295.7
296.2
308.2
783.0
787.4
790.7
789.1
798.5
802.8
807.4
807.3
805.7
814.1
816.1
805.7
1,042.6
1,042.1
1,048.7
1,056.7
1,059.4
1,062.9
1,064.4
1,068.1
1,067.1
1,069.9
1,070.3
1,088.1
2,365.7
2,348.6
23616
2,398.1
24169
24282
24263
2,429.9
2,460.7
2,451.7
2,485.1
2,503.4
326.7
321.4
3168
324.1
3326
3338
3304
326.3
336.6
327.5
345.0
352.1
864.8
853.4
8516
870.4
8733
8757
8744
870.3
885.1
879.0
882.9
887.6
1,174.2
1,173.9
1 1933
1,203.7
1 210 9
12187
1 221 5
1,233.3
1,239.1
1,245.3
1,257.2
1,263.7
1984
January
February
March
April
May
June
July
August
September....
October
November
December
2,225.7
2,200.6
2,206.4
2 232 8
2,246.3
22500
2,241 6
2,234.2
2,254.5
2,242.0
2,265.4
2,278.7
316.3
310.6
306.1
3118
320.0
3211
318.0
313.9
322.1
315.9
329.6
337.4
829.5
816.0
812.6
829.3
833.3
835.8
833.0
824.2
836.3
826.5
828.7
830.7
1,079.9
1,073.9
1,087.7
1,091.7
1,092.9
1,093.2
1,090.7
1,096.1
1,096.1
1,099.5
1,107.1
1,110.6
2,510.3
2,534.6
2,530.2
2 544 0
2,575 5
25704
2,575.5
2,606.2
2,636.6
2,611.1
2,623.6
2,669.8
345.4
352.7
356.4
347 1
3692
3532
355.3
378.3
394.3
355.7
357.2
373.0
893.4
898.1
895.8
912 5
9095
908 6
909.2
912.9
921.6
926.0
925.3
933.5
1,271.5
1,283.7
1,278.1
1 284 4
12968
1 308 6
1,311.0
1,315.0
1,320.7
1,329.3
1,341.1
1,363.3
1985
January
February
March
April
May
June
July
August
September....
October
November
December
2,284.9
2,297.3
22835
2,292.3
23138
2,304.4
2,306 6
2,330.3
2,351.9
2,319.9
2,319.2
2,352.1
331.5
335.7
3379
332.3
3509
337.6
340.2
360.9
376.8
341.1
342.2
356.8
840.5
843.3
8358
848.8
8464
845.0
845.6
849.2
854.7
854.9
847.9
850.5
1,112.9
1,118.2
1,109 9
1,111.2
1,116 5
1,121.8
1,120.7
1,120.2
1,120.4
1,123.9
1,129.0
1,144.8
76
SURVEY OF CURRENT BUSINESS
March 1986
3. Government Receipts and Expenditures
Table 3.1.—-Government Receipts and Expenditures
[Billions of dollars]
1982
Line
1
Receipts
6
Expenditures
1984
1 000 8 1 059 6 1 171 3
4093 411 1 4418
631
752
93 6
2588 2825 3106
269 6 2908 3252
2
3
4
5
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax accruals
Contributions for social insurance
1983
Purchases of goods and services
Compensation of employees
Other
7
8
9
Transfer payments
To persons
To foreigners
10
11
12
Net interest paid
Interest paid
To persons and business
To foreigners
Less: Interest received by government
13
14
15
16
17
18
19
20
21
22
1 111 6 1 1904 1 279 8
641 7 6757 7368
3439 3664 3917
2978 3093 345 1
404 0 4351 448 1
3962 426 6 437 4
78
85
107
601
681
884
1283 145 1 1739
1100 1273 1541
183
178
198
68 1
77 1
854
29
28
35
87
139
101
15 5
222
22 6
68
83
125
4
0
2
23
-110.8 -130.8 -108.5
Less: Dividends received by government
Subsidies less current surplus of government enterprises
Subsidies
Less: Current surplus of government enterprises
Less: Wage accruals less disbursements
Surplus or deficit ( — ), national income and product
accounts.
Social insurance funds
Other
24
25
60
1168
487
1572
10 5
141 2
Table 3.2.—Federal Government Receipts and Expenditures
[Billions of dollars]
Seasonallj adjuste d at anrmal rat*JS
Line
1982
1983
1985
1984
I
Receipts
Personal tax and nontax
receipts.
Income taxes
Estate and gift taxes
Nontaxes
1
635.3
725.1
311.3
636.7
304.5
658.1
295.0
785.4
2
350.7
306.0
2965
76
.3
2886
59
.5
3049
59
.5
3437
65
.5
49.0
152
33.8
48.1
59.3
142
451
51.6
74.4
161
58.3
55.8
67.7
161
51.6
57.0
2966
92
.3
49.8
151
34.6
50.4
3
4
5
Corporate profits tax accruals.... 6
7
Federal Reserve banks
8
Other
Indirect business tax and
9
nontax accruals.
Excise taxes
10
11
Customs duties
Nontaxes
12
Contributions for social
13
insurance.
Expenditures
14
Purchases of goods and
15
services.
National defense
16
Nondefense
17
Transfer payments
18
To persons . . . .
19
To foreigners
20
Grants-in-aid to State and
21
local governments.
Net interest paid
22
Interest paid
23
To persons and business
24
25
To foreigners
Less: Interest received by
26
government.
Subsidies less current surplus
27
of government enterprises.
Subsidies..
28
29
Less: Current surplus of
government enterprises.
Less: Wage accruals less
30
disbursements.
31
Surplus or deficit (-),
national income and
product accounts.
Social insurance funds
32
Other
33
IV
641.1
310.7
630.3
633.1
303.0
636.3
298.1
297.1
3025
79
.3
2904
7.4
.3
2967
60
.4
49.9
157
34.2
47.2
50.1
15.4
34.7
47.1
46.4
14.6
31.8
47.6
2911
5.6
.4
46.5
14.1
32.4
46.3
I
II
I
III
IV
665.2
659.7
286.2
671.1
292.5
709.4
304.2
297.6
6.1
.5
58.2
13.9
44.3
52.8
2793
6.4
.5
286.6
5.4
.5
290.9
6.4
.5
66.4
14.2
52.2
53.7
66.1
14.7
51.4
53.6
78.9
15.3
63.6
54.6
II
III
II
19*55
19134
19i33
19 32
297.8
HI
IV
754.9
790.7
806.2
321.3
355.4
362.1
313.9
6.8
.5
65.0
16.5
48.4
60.2
348.2
6.7
.5
68.9
15.8
53.1
355.4
6.2
.5
71.1
15.8
55.4
55.4
56.9
35.4
11.6
35.7
12.0
7.7
36.4
12.6
13-.3
308.4
311.0
315.9
II
I
HI
IV
721.8
303.9
727.1
315.7
742.1
327.8
789.7
363.9
297.2
6.2
.5
80.1
15.8
64.4
321.4
5.8
.5
69.2
16.8
52.4
56.2
357.2
6.2
.5
.55.8
310.1
5.1
.5
69.4
16.3
53.0
56.7
36.1
12.0
7.7
282.0
36.5
12.3
7.9
285.4
35.8
12.3
8.0
288.9
34.9
12.5
8.1
304.4
65.9
16.4
49.5
55.5
327
86
68
233.7
358
91
67
252.2
362
119
77
283.6
35.6
122
93
309.9
346
91
67
230.5
317
8.7
69
233.2
31.9
8.3
69
235.0
32.6
8.4
6.6
236.1
32.4
7.6
6.2
246.5
37.3
8.9
6.6
250.1
37.2
9.6
6.9
253.4
36.2
10.2
7.3
258.8
36.2
11.1
7.3
278.1
781.2
272.7
837.5
284.8
898.0
312.9
984.7
355.4
745.9
262.9
754.0
259.3
789.1
275.3
835.7
293.2
824.2
287.1
835.8
287.0
839.4
286.0
850.6
279.2
867.2
285.6
884.9
314.8
905.2
318.5
934.7
332.9
952.4
334.4
964.0
337.8
992.0 1,030.4
364.8 384.7
1938
78.9
324.1
316.3
78
83.9
2157
692
348.5
3400
85
86.2
2370
76.0
355.1
3444
107
1822
80.7
306.0
298.0
80
82.9
1903
69.0
313.9
307.1
68
84.7
197.3
78.0
329.1
322.3
6.8
83.3
205.4
87.7
347.4
337.9
9.5
209.4
77.8
344.4
338.2
6.2
235.8
79.0
351.9
343.5
8.3
236.2
82.2
356.2
345.3
11.0
247.5
85.4
361.9
346.4
15.5
249.5
84.9
374.1
362.9
11.2
256.0
81.7
376:7
364.2
12.5
269.9
95.0
383.5
368.8
14.7
272.1
112.6
85.8
215.8
70.2
346.6
338.2
8.4
87.1
228.3
57.3
350.5
342.5
8.1
84.5
214.5
72.5
350.8
343.6
7.2
85.8
222.9
56.2
352.3
340.1
12.2
93.6
2619
93.6
379.8
366.3
134
99.0
86.2
91.3
93.0
93.0
97.3
95.7
97.6
100.6
102.0
846
101.1
82.9
183
16.6
943
112.8
95.0
178
18.5
1155
136.3
116.5
198
20.9
129.2
151.0
129.7
213
21.9
805
96.6
78.6
180
16.2
83.4
99.8
82.4
17.5
16.4
87.1
103.9
85.0
18.8
16.7
87.2
104.3
85.4
189
17.1
88.0
105.7
88.0
17.7
17.7
91.1
109.1
91.7
17.5
18.0
96.8
115.6
97.8
17.8
18.8
101.2
120.7
102.4
18.3
19.5
107.2
127.1
108.5
18.6
19.9
110.4
131.5
112.5
19.1
21.2
119.5
140.5
120.3
20.2
21.1
124.8
146.0
124.9
21.2
21.3
126.4
147.6
126.4
21.2
21.2
130.1
150.8
129.7
21.1
127.1
150.5
129.0
21.5
133.0
155.2
133.8
21.5
20.7
23.4
22.2
16.0
23.2
21.1
21.1
13.5
12.7
14.3
23.4
18.8
19.8
22.5
31.6
32.7
15.1
18.0
18.5
21.9
20.9
15.9
25.9
150
-.9
217
-1.5
220
.9
226
1.5
138
.3
143
1.6
134
-.9
186
-4.8
156
-3.2
203
.5
187
-3.9
32.2
.5
33.1
.4
16.4
1.3
19.1
1.1
19.3
.8
23.1
1.3
25.3
4.5
18.1
2.2
23.9
-1.9
0
-.4
.2
-.2
-.1
0
0
-1.3
-.4
0
.2
.2
.6
.1
-1.0
0
0
0
0
7.9
384.8
369.4
15.4
0
-145.9 -179.4 -172.9 -199.3 -109.2 -112.9 -158.8 -202.6 -187.9 -170.6 -179.7 -179.5 -157.8 -163.0 -178.1 -192.7 -162.6 -209.1 -201.3 -224.2
308
1150
327
1467
2
1731
94
208 7
166
926
23 1
89 8
355
123 3
48 1
1544
37 6
1502
39 5
131 1
292
1505
246
1549
58
1520
12
1618
19
1800
12.5
8.4
101
65
59
1985 -1691 -219.3 -209.7 -236.7
77
SURVEY OF CURRENT BUSINESS
March 1986
Table 3.3.—State and Local Government Receipts and Expenditures
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1985
1982
I
Receipts
Personal tax and nontax
receipts.
Income taxes
Nontaxes .
Other
II
III
IV
I
II
1985
1984
1983
III
IV
I
II
III
IV
II
I
III
IV
1
449.4
487.7
539.8
575.5
437.2
446.8
453.7
459.8
466.9
481.8
496.6
505.7
525.5
537.4
542.2
554.1
560.5
570.0
581.8
589.7
2
104.9
116.1
130.5
142.0
101.1
103.4
106.9
108.1
110.2
113.9
118.2
121.9
125.7
129.6
131.8
134.6
137.8
141.1
142.9
146.3
3
4
5
51.9
43.2
9.8
58.3
47.4
10.4
67.7
51.8
10.9
73.6
56.8
11.6
50.2
41.5
9.5
50.9
42.8
9.7
53.1
43.8
10.0
53.4
44.5
10.2
54.0
45.9
10.3
56.5
47.0
10.4
60.0
47.8
10.4
62.6
48.8
10.5
64.9
50.2
10.7
67.5
51.3
10.8
68.5
52.4
10.9
70.1
53.5
11.1
71.8
54.7
11.3
73.5
56.1
11.5
73.6
57.5
11.8
75.4
59.0
12.0
14.0
15.9
19.2
18.1
14.4
14.1
14.2
13.4
12.5
15.6
17.7
17.8
20.2
20.5
18.1
18.1
17.5
17.3
18.5
19.2
7
210.8
231.0
254.8
271.4
204.1
209.0
213.0
216.9
220.8
228.3
234.6
240.1
247.8
253.0
257.3
261.2
265.8
269.5
274.4
275.8
8
9
10
96.2
85.3
29.3
106.6
91.9
32.4
120.0
98.5
36.3
128.9
104.1
38.5
93.1
82.4
28.6
95.6
84.5
28.9
97.2
86.3
29.4
98.8
88.0
30.1
100.4
89.5
30.8
105.4
91.1
31.9
109.1
92.7
32.8
111.6
94.4
34.1
116.3
96.1
35.4
119.4
97.6
36.0
121.2
99.4
36.7
123.2
101.0
36.9
125.4
102.4
38.1
127.9
103.5
38.1
131.1
104.6
38.7
131.0
105.7
39.0
Contributions for social
insurance.
11
35.8
38.6
41.6
45.0
34.7
35.5
36.3
36.9
37.6
38.3
39.0
39.7
40.5
41.2
42.0
42.8
43.6
44.5
45.4
46.3
Federal grants-in-aid
12
83.9
86.2
93.6
99.0
82.9
84.7
83.3
84.5
85.8
85.8
87.1
86.2
91.3
93.0
93.0
97.3
95.7
97.6
100.6
102.0
13
414.3
439.1
475.4
516.3
404.0
411.5
417.4
424.1
429.0
435.1
443.9
448.5
461.5
471.7
480.1
488.3
497.2
.512.7
524.9
530.2
14
369.0
390.9
423.9
460.0
359.2
366.4
371.8
378.7
382.2
386.9
395.1
399.4
410.9
420.3
428.8
435.5
442.8
457.1
467.7
472.5
15
16
226.9
142.1
241.8
149.1
259.6
164.3
279.2
180.8
220.5
138.7
225.5
140.9
228.9
142.9
232.6
146.0
236.5
145.6
239.9
146.9
243.4
151.6
247.4
152.0
252.8
158.1
257.3
163.0
261.8
167.0
266.5
169.0
271.7
171.1
276.6
180.5
281.6
186.0
286.9
185.6
84.1
86.0
87.4
88.7
91.4
92.9
261
263
266
269 -27.0
Corporate profits tax accruals.... 6
Indirect business tax and
nontax accruals.
Sales taxes
Property taxes
Other .
Expenditures
Purchases of goods and
services.
Compensation of employees
Other
Transfer payments to persons .... 17
Net interest paid . ..
18
79.9
-24.4
86.6
-26.2
93.0
-27.0
98.8
-26.3
76.7
-22.6
79.2
-24.1
81.4
-25.2
82.3
-25.8
-25.9
93.1
-27.0
94.7
-27.1
96.1
-26.5
97.7
-26.3
99.7
101.7
-26.2
-26.4
Interest paid
Less: Interest received by
government.
19
20
27.1
51.5
32.3
58.6
37.6
64.6
42.9
69.2
25.4
48.0
26.5
50.6
27.7
52.9
29.0
54.8
30.3
56.3
31.7
57.8
33.0
59.3
34.3
60.9
35.6
62.5
36.9
63.9
38.2
65.3
39.6
66.7
41.0
67.4
42.3
68.6
43.6
69.8
44.7
71.1
Less: Dividends received by
government.
21
2.9
2.8
3.5
4.7
2.8
2.9
3.0
3.1
2.8
2.7
2.7
2.9
3.2
3.4
3.6
3.8
4.1
4.5
4.8
5.2
Subsidies less current surplus
of government enterprises.
22
Subsidies
Less: Current surplus of
government enterprises.
23
24
.5
7.8
.5
9.8
.6
11.6
.7
12.3
.4
7.0
.4
7.5
.5
8.0
.5
8.5
.5
9.0
.5
9.5
.5
10.1
.5
10.7
.6
11.3
.6
11.6
.6
11.8
.6
11.7
.7
11.8
.7
12.0
.7
12.2
.7
13.1
25
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
26
35.1
48.6
64.4
59.2
33.2
35.2
36.3
35.8
37.9
46.8
52.7
57.2
64.0
65.7
62.1
65.8
63.2
57.3
56.9
59.4
27
28
36.9
17
43.2
5.5
48.5
15.9
52.9
6.3
33.9
-.7
36.0
-.8
37.9
-1.6
39.7
-3.9
41.1
-3.2
42.5
4.2
43.9
8.8
45.2
12.0
46.6
17.4
47.9
17.8
49.1
13.0
50.6
15.2
51.0
12.2
52.3
5.0
53.5
3.3
54.8
4.7
Less: Wage accruals less
disbursements.
Surplus or deficit (-),
national income and
product accounts.
Social insurance funds
Other
-7.3
-9.3
-11.0
-11.6
-6.6
-7.1
-7.5
-8.0
-8.5
-9.0
-9.6
-10.1
-10.7
-11.0
-11.2
-11.1
-11.2
-11.3
-11.5
-12.4
78
SURVEY OF CURRENT BUSINESS
March 1986
Table 3.4.—-Personal Tax and Nontax Receipts
Table 3.6.—Contributions for Social Insurance
[Billions of dollars]
[Billions of dollars]
Personal tax and nontax receipts
Federal
Income taxes
Withheld
Declarations and settlements
Less: Refunds
Estate and gift taxes
Nontaxes
. .
Line
1982
1983
1984
1
4093
304.5
411 1
2965
2656
870
561
2950
2886
2669
835
618
4418
311 3
3049
2861
846
658
76
3
59
5
59
5
104 9
519
26
46
14
13
432
9.3
24.6
3.4
59
116 1
583
26
49
15
14
474
10.4
26.7
3.8
65
130 5
677
24
53
16
16
518
11.7
28.5
4.3
74
2
3
4
5
6
7
g
9
State and local
Income taxes
Estate and gift taxes
Motor vehicle licenses
Property taxes
Other taxes
10
11
12
13
14
Nontaxes .
Tuition and related educational charges
Hospital and health charges
Fines
Other . .
15
16
17
18
19
[Billions of dollars]
Line
1982
1983
1984
1
282.5
310.6
51.6
35.8
5.4
5.0
9.9
155
55.8
36.2
5.3
4.7
8.2
180
Excise taxes
Liquor
. .
Tobacco
Windfall profit tax ..
Other
3
4
5
6
7
258.8
48.1
32.7
54
2.5
15.7
91
Customs duties
Nontaxes
8
9
86
6.8
91
6.7
119
7.7
210.8
96.2
803
512
10.5
27
4.1
54
3.5
30
15.9
108
3.2
1.8
85.3
2.1
7.8
7.0
12.4
75
1.6
1.1
2.2
231.0
106.6
890
573
11.5
28
4.0
59
4.0
35
17.6
121
3.6
2.0
91.9
2.1
7.1
8.2
14.9
96
1.8
1.3
2.3
254.8
120.0
100.7
664
12.9
30
4.2
59
4.1
41
19.3
134
3.8
2.1
98.5
2.3
7.3
9.3
17.4
11.2
2.1
1.5
2.7
10
11
12
. . ..
13
14
15
16
'.
17
18
19
20
21
22
23
24
..
.
. . 25
26
27
State and local
Sales taxes
State
General
Gasoline
Liquor
Tobacco
Public utilities
Insurance receipts
Other
Local
General
Public utilities
Other
Property taxes
Motor vehicle licenses
Severance taxes
Other taxes
Nontaxes
Special assessments
Fines
.
Other
2
..
28
29
30
31
32
Unemployment insurance
State tax
Federal tax
Railroad employees
Federal employees
Federal employee retirement
Civilian
Military
Railroad retirement
Veterans life insurance
Workers' compensation
Military medical insurance 1 ... ..
~
....
State and local social insurance funds
State and local employee retirement
Temporary disability insurance
1983
1984
1
2
3
269.6
290.8
157.3
1308
860
69.2
16.8
171.0
1425
919
73.3
18.6
21.2
158
4.8
2
.4
325.2
1928
1621
1056
85.2
204
25.7
197
5.5
2
3
25.9
9.6
163
26.8
101
167
1.9
0
9
.6
28.5
25.3
1
3.0
119.8
109.7
992
92.1 •
734
18.7
7.1
4.2
.2
4.5
.8
.7
2.2
0
10
.7
30.7
27.5
1
3.1
132.4
121.5
1097
101.3
808
20.5
84
5.1
3
4.7
10
.7
101
9.1
10
109
97
12
12
13
14
.
Personal contributions
Federal social insurance funds
Old-age survivors disability and hospital insurance
Employees
. .
Old-age survivors and disability insurance
Hospital insurance
Self-employed
Supplementary medical insurance
State unemployment insurance
Federal civilian employee retirement
Railroad retirement
Veterans life insurance
1982
4
5
6
7
8
9
10
11
Old-age, survivors, disability and hospital insurance
Old-age, survivors, and disability insurance
Hospital insurance
*
State and local social insurance funds
State and local employee retirement
Temporary disability insurance
Workers' compensation
Table 3.5.—Indirect Business Tax and Nontax Accruals
Indirect business tax and nontax accruals
Federal
.
Contributions for social insurance
Employer contributions
Federal social insurance funds
Line
.
.
.
17.0
128
3.7
2
.3
24.3
90
154
34
2.0
0
9
.5
26.4
23.2
1
3.1
112.3
102.9
929
86.1
693
16.9
68
3.9
.1
4.3
.8
.7
35
36
37
94
86
9
... 15
16
17
18
19
20
21
22
23
•• • 24
25
26
27
28
29
30
31
32
oq
1. Consists of payments for medical services for dependents of active duty military personnel
for medical care at nonmilitary facilities.
March 1986
79
SURVEY OF CURRENT BUSINESS
Table 3.7B.—Government Purchases of Goods and Services by Type
[Billions of dollars]
S€ asonalljr
Line
1982
1983
1984
1985
19 82
I
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
Commodity Credit
Corporation inventory
change.
Other nondurables
Services
Compensation of
employees.
Other services
Structures
State and local
Durable goods
Nondurable goods
Services
Compensation of
employees.
Other services
Structures
II
adjust* d at amlual rafo88
I
III
IV
625.7
647.1
671.8
669.3
2593
1822 1903
428
488
14 0
124
121 8 1257
81.7
83.5
2753
1973
51 9
131
1280
83.9
293 2
2054
532
149
133 0
86.7
II
1985
1984
19 83
III
IV
735.1
747.3
768.4
777.2
2283
654
119
1464
94.0
314 8
2358
702
119
149 1
94.5
3185
2362
655
124
1529
95.1
332.9 334.4
2475 2495
728
744
113
116
156 1 1605
95.6
99.2
605
60 8
630
294
297
310
524
51 4
524
50
49
46
702
562
573
35
37
38
9
13 5
14 0
-6.2 -19.0 -19.8
63 3
312
546
46
790
38
69
.1
637
314
57 8
55
822
39
89
2.9
640
317
605
54
854
42
102
2.4
I
III
IV
673.8
681.1
678.6
696.5
287 1
2094
553
140
1358
88.4
2870
2145
599
120
1382
89.3
286 0 279 2
2158 2229
57 1
63 1
124
121
141 3 142 8
90.4
89.9
2856
II
I
III
IV
794.8
832.5
857.2
337.8
364.8
384.7
2560
753
124
1627
99.7
2699
832
130
1673
100.0
272.1
792
117
1753
102.7
664
328
613
49
849
40
98
3.8
667
330
630
57
817
41
69
.3
668
333
673
64
950
39
189
12.5
691
335
726
59
1126
42
347
30.1
II
1
641.7
675.7
736.8
815.4
622.1
2
3
4
5
6
7
2727
2848
2157
588
126
1395
89.5
3129
2370
689
120
151 1
94.8
3554
2629
1938
492
136
127 1
84.0
8
9
10
11
12
13
14
15
566
274
432
39
789
31
149
9.2
602
294
500
47
692
36
5
-5.7
635
313
563
50
760
39
30
-3.6
672
332
660
57
936
40
175
11.7
55 1
266
40 1
35
807
30
172
10.9
56 2
272
423
35
690
29
66
1.2
566
273
44 1
43
780
30
14 1
9.0
585
283
462
43
877
34
21 5
15.5
593
291
47 4
43
778
36
10 1
4.4
60 1
292
48 9
45
725
35
44
-1.8
16
17
18
5.7.
543
33.1
6.2
584
35.1
6.6
619
37.3
5.9
643
39.4
6.3
53 4
32.7
5.4
528
32.6
5.1
544
33.0
6.0
566
34.0
5.7
57 5
34.7
6.3
580
35.0
7.1
588
35.1
5.5
594
35.5
5.8
607
36.8
6.8
608
37.1
5.9
624
37.4
7.8
636
37.9
5.9
636
39.0
6.6
631
39.3
6.3
643
39.5
4.6
662
39.9
19
20
21
22
23
24
25
212
66
3690
147
334
2772
226.9
234
66
3909
163
34 1
2972
241.8
246
72
4239
185
365
3214
259.6
249
77
4600
20 1
385
3474
279.2
207
70
3592
14 1
330
2686
220.5
202
67
3664
145
33 2
2751
225.5
215
65
3718
148
337
2799
228.9
226
63
3787
153
33 9
2852
232.6
228
65
3822
156
33 1
2901
236.5
230
65
3869
161
338
2945
239.9
236
70
395 1
165
34 5
2994
243.4
240
64
3994
17 1
350
3048
247.4
239
68
4109
176
360
3116
252.8
23 8
74
4203
183
365
3184
257.3
250
71
4288
187
36 5
3245
261.8
258
74
4355
192
37 2
3310
266.5
246
74
4428
196
37 6
3377
271.7
238
77
4571
200
384
3440
276.6
248
80
4677
202
382
3507
281.6
263
76
4725
206
399
3572
286.9
26
27
503
437
554
43 2
618
475
682
540
481
43 5
496
43 6
510
43 4
525
44 3
535
43 4
546
42 5
559
446
574
424
588
456
61 1
47 2
627
49 1
646
480
660
47 9
675
547
690
585
704
547
I
II
2619
776
121
1664
100.4
Table 3.8B.—Government Purchases of Goods and Services by Type in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
I
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 . . .
Commodity Credit
Corporation inventory
change.
Other nondurables
Services
Compensation of
employees.
Other services
Structures
State and local
Durable goods
Nondurable goods
Services
Compensation of
employees.
Other services
Structures
II
III
IV
I
II
1985
1984
1983
1982
1985
III
IV
I
II
III
IV
III
IV
675.9
716.4
634.6
629.7
642.5
660.1
649.1
648.2
651.5
642.2
650.1
677.1
682.4
693.9
691.4
699.4
729.2
745.5
275.5
292.5
267.0
185.4
43.9
13.9
124.1
83.3
279.2
307.3
227.9
69.0
12.9
141.0
86.7
331.1
349.0
214.1
61.9
13.6
134.1
85.8
296.7
219.6
61.5
13.5
139.5
86.5
305.9
206.5
54.6
13.3
133.7
85.3
294.8
219.6
66.0
13.1
136.2
86.2
304.3
203.8
53.7
14.6
131.3
85.3
267.9
211.8
59.7
13.2
134.1
85.0
271.4
201.4
52.3
15.0
129.7
84.4
277.6
206.9
57.7
13.0
131.8
85.3
277.4
191.6
49.2
12.4
126.5
84.0
273.8
197.0
51.4
13.1
128.1
84.2
289.5
220.3
64.6
13.3
137.7
86.3
322.6
235.7
71.6
13.3
145.5
87.2
260.5
207.3
56.4
13.5
132.7
85.2
226.7
67.9
12.4
141.8
87.1
231.5
69.6
13.8
142.9
87.2
243.3
76.5
14.3
146.6
87.4
241.3
72.4
12.8
150.7
87.3
57.,2
28.0
47.5
4.6
57.8
28.5
51.4
4.7
58.3
28.9
58.2
5.3
56.4
26.9
40.8
3.5
56.5
27.4
42.6
3.5
56.7
27.4
44.0
4.3
56.8
27.6
45.4
4.4
57.4
27.9
46.0
4.3
57.4
27.9
46.5
4.5
57.3
28.0
48.4
4.9
56.9
28.1
49.1
4.8
57.4
28.4
48.3
4.5
57.7
28.4
50.1
4.3
58.0
28.5
53.0
5.1
58.1
28.6
54.3
5.0
58.3
28.8
54.7
4.6
58.3
28.9
55.7
5.2
58.4
28.9
59.2
5.9
58.4
29.0
63.3
5.4
78.9
3.1
14.9
9.2
68.3
3.8
2.1
-4.2
72.3
4.1
4.4
-2.2
86.9
4.5
18.6
12.7
81.6
3.1
17.1
10.8
68.9
2.9
6.1
.7
76.9
2.9
13.1
7.9
88.2
3.4
23.2
17.2
75.4
3.7
9.9
4.1
70.6
3.7
5.0
-1.5
57.3
70.9
56.1
3.7
4.0
4.0
-9.4
4.1 -10.5
-15.2
-3.2
-16.1
75.2
4.0
8.1
1.2
77.1
4.1
9.0
3.1
79.5
4.4
10.0
2.2
77.6
4.4
9.6
3.8
74.3
4.5
6.9
.2
87.9
4.3
19.5
13.0
107.7
4.7
38.1
33.7
16
17
18
5.7
54.3
33.1
6.3
55.8
33.5
6.6
56.8
34.0
5.9
56.7
34.3
6.3
54.3
33.1
5.4
53.2
32.8
5.1
54.4
33.1
5.9
55.3
33.2
5.8
55.4
33.3
6.5
55.5
33.5
7.3
56.1
33.5
5.6
56.3
33.6
5.8
56.1
33.7
6.9
56.0
33.9
5.9
57.2
34.1
7.8
57.9
34.3
5.8
56.6
34.3
6.7
55.8
34.3
6.5
56.6
34.4
4.4
58.0
34.4
19
20
21.2
6.6
22.4
6.5
22.8
6.9
22.4
7.1
21.2
7.1
20.4
6.7
21.3
6.5
22.1
6.3
22.1
6.4
22.1
6.5
22.6
6.9
22.7
6.3
22.3
6.6
22.1
7.1
23.0
6.8
23.7
7.1
22.3
7.0
21.4
7.1
22.3
7.4
23.6
7.0
21
369.0
14.7
33.4
277.2
226.9
372.2
16.0
34.9
278.4
226.3
383.3
17.7
36.9
283.1
228.2
393.8
18.9
38.8
287.6
229.6
367.7
14.3
32.9
277.1
227.6
369.2
14.5
33.4
277.7
227.7
368.6
14.8
33.6
276.8
226.3
370.6
15.1
33.9
277.1
225.9
369.9
15.4
34.2
277.2
225.8
370.6
15.8
34.7
277.7
225.9
374.1
378.6
17.0
36.2
280.8
227.4
382.4
17.6
36.7
282.6
227.9
385.7
17.9
37.1
283.8
228.5
386.6
18.4
37.7
285.4
228.9
18.6
38.1
286.1
229.1
393.6
18.8
38.6
287.0
229.2
398.1
16.2
35.0
278.7
226.3
374.3
16.6
35.6
280.0
227.0
387.1
22
23
24
25
19.1
39.1
288.1
229.7
396.5
19.3
39.4
289.4
230.4
26
27
50.3
43.7
52.2
42.9
54.9
45.6
58.1
48.4
49.5
43.3
50.0
43.6
50.6
43.4
51.2
44.5
51.4
43.2
51.9
42.4
52.4
44.2
53.0
42.0
53.4
44.6
54.6
45.6
55.2
46.9
56.4
45.1
57.1
44.2
57.7
49.2
58.4
51.9
59.0
48.4
1
641.7
2
272.7
3
4
5
6
7
193.8
49.2
13.6
127.1
84.0
8
9
10
11
56.6
27.4
43.2
3.9
12
13
14
15
647.8
80
SURVEY OF CURRENT BUSINESS
March 1986
Table 3.9.—National Defense Purchases of Goods and Services
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1982
1985
I
National defense
purchases.
Durable goods
Military equipment
Aircraft
Missiles
Ships
Vehicles
Electronic equipment .. .
Other
Other durable goods
Nondurable goods
Petroleum products
Ammunition .. .
Other nondurable goods
Services
Compensation of employees
Military
Civilian
Other services
Contractual research and
development.
Installation support l
Weapons support23
Personnel support
Transportation of materiel ..
Travel of persons
Other
Structures
Military facilities
Other
II
III
IV
I
II
1985
1984
1983
III
IV
I
II
III
IV
I
II
III
IV
269.9
272.1
215.7
237.0
261.9
182.2
190.3
197.3
205.4
209.4
214.5
215.8
222.9
228.3
235.8
236.2
247.5
249.5
256.0
49.2
58.8
68.9
77.6
42.8
48.8
51.9
53.2
55.3
59.9
57.1
63.1
65.4
70.2
65.5
74.4
72.8
75.3
83.2
79.2
40.2
16.8
5.7
6.0
2.9
3.1
5.8
8.9
49.4
20.7
7.3
6.8
4.2
3.5
6.8
9.4
58.5
23.8
8.7
7.9
5.6
4.1
8.4
10.4
66.8
28.0
9.9
8.6
5.2
5.0
10.2
10.8
34.5
13.7
4.9
5.6
2.3
2.8
5.2
8.3
39.5
16.1
5.9
6.3
2.5
2.9
5.7
9.3
43.2
18.9
5.6
6.1
3.1
3.5
6.1
8.7
43.7
18.5
6.3
5.8
3.7
3.3
6.2
9.5
45.8
18.7
6.8
5.7
4.2
3.3
7.1
9.5
50.1
21.8
6.3
7.2
4.4
3.4
7.0
9.7
47.4
19.4
6.9
6.9
3.9
3.5
6.7
9.7
54.3
22.9
9.3
7.6
4.4
3.6
6.6
8.8
55.4
22.1
8.2
7.6
5.0
3.9
8.6
10.0
59.7
23.6
7.7
7.9
6.7
4.2
9.5
10.5
54.7
22.5
7.9
7.6
5.4
3.7
7.6
10.8
64.3
27.2
11.0
8.6
5.3
4.6
7.7
10.1
62.5
25.9
9.7
8.0
5.0
4.7
9.4
10.2
64.5
28.1
8.7
8.4
4.9
4.7
9.7
10.8
72.9
28.7
10.5
9.0
6.3
5.8
12.6
10.3
67.5
29.3
10.6
8.9
4.6
5.0
9.1
11.7
11
13.6
12.6
12.0
12.1
14.0
12.4
13.1
14.9
14.0
12.0
12.4
12.1
11.9
11.9
12.4
11.6
11.3
12.4
13.0
11.7
12
13
14
9.2
2.3
2.1
7.6
2.7
2.3
6.8
2.9
2.3
6.6
3.1
2.4
9.6
2.3
2.1
8.1
2.2
2.2
8.9
2.2
2.0
10.3
2.5
2.1
9.0
2.7
2.3
7.3
2.4
2.3
7.2
2.9
2.2
6.9
2.9
2.3
6.8
2.8
2.3
6.7
3.0
2.2
6.9
2.8
2.6
6.6
2.7
2.3
6.0
3.0
2.3
7.1
2.9
2.3
7.2
3.2
2.5
6.2
3.0
2.4
15
127.1
139.5
151.1
166.4
121.8
125.7
128.0
133.0
135.8
138.2
141.3
142.8
146.4
149.1
152.9
156.1
160.5
162.7
167.3
175.3
16
17
18
19
20
84.0
56.6
27.4
43.2
16.3
89.5
60.2
29.4
50.0
197
94.8
63.5
31.3
56.3
237
100.4
67.2
33.2
66.0
28.0
81.7
55.1
26.6
40.1
15.1
83.5
56.2
27.2
42.3
15.8
83.9
56.6
27.3
44.1
16.8
86.7
58.5
28.3
46.2
17.4
88.4
59.3
29.1
47.4
18.7
89.3
60.1
29.2
48.9
19.0
89.9
60.5
29.4
51.4
19.9
90.4
60.8
29.7
52.4
21.3
94.0
63.0
31.0
52.4
21.8
94.5
63.3
31.2
54.6
23.0
95.1
63.7
31.4
57.8
24.4
95.6
64.0
31.7
60.5
25.5
99.2
66.4
32.8
61.3
26.3
99.7
66.7
33.0
63.0
26.8
100.0
66.8
33.3
67.3
28.4
102.7
69.1
33.5
72.6
30.5
21
22
23
24
25
26
12.0
5.5
3.6
3.2
2.6
0
13.7
6.4
3.9
3.5
2.7
.2
14.9
6.8
4.2
3.5
2.9
.2
18.3
7.5
4.5
4.0
3.4
.3
11.4
4.8
3.4
3.2
2.4
-.1
11.5
5.6
3.8
3.0
2.6
-.1
12.1
5.4
3.6
3.2
3.0
1
13.1
6.1
3.6
3.4
2.5
.1
12.7
6.3
3.7
3.3
2.4
.3
13.4
6.6
3.7
3.3
3.0
0
14.2
6.2
4.2
3.7
2.8
.4
14.6
6.4
4.1
3.6
2.5
-.1
13.5
6.6
3.8
3.4
3.3
.0..
15.7
6.9
4.3
3.4
2.8
.5
16.5
7.1
4.7
3.5
2.9
.3
16.9
7.0
3.7
3.9
3.0
.5
17:5
18.5
7.7
4.9
4.0
3.6
.2
20.3
8.0
5.6
4.1
3.8
.3
27
3.9
4.7
5.0
5.7
3.5
3.5
4.3
4.3
4.3
4.5
5.0
4.9
4.6
14.0
6.6
4.3
3.8
2.8
4
4.6
5.5
5.4
4.9
5.7
6.4
5.9
28
29
2.3
1.6
2.8
1.9
3.0
2.0
3.5
2.2
2.2
1.4
2.1
1.4
2.6
1.7
2.5
1.8
2.3
2.1
2.5
1.9
3.2
1.8
3.2
1.7
2.8
1.8
2.6
1.9
3.3
2.2
3.2
2.1
2.8
2.1
3.4
2.2
4.1
2.4
3.7
2.2
1
193.8
2
3
4
5
6
7
8
9
10
7.3
4.0
3.8
3.2
.4
1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors to operate installations.
2. Includes depot maintenance and contractual services for weapons systems, other than research and development.
3. Includes compensation of foreign personnel, consulting, training, and education.
Table 3.10. —National Defense Purchases of Goods and Services in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1982
1985
II
I
National defense
purchases.
Durable goods
..
Military equipment
Aircraft
Missiles
Ships
Vehicles
Electronic equipment
Other
Other durable goods
Nondurable goods. ..
Petroleum products
Ammunition
Other nondurable goods
Services
Compensation of employees
Military
Civilian
Other services
Contractual research and
development.
1
Installation support
Weapons support 23
Personnel support
Transportation of materiel ..
Travel of persons
Other .
Structures
Military facilities
Other
1983
III
IV
II
I
IV
II
I
III
IV
II
I
III
IV
1
193.8
207.3
220.3
235.7
185.4
191.6
197.0
201.4
203.8
206.9
206.5
211.8
214.1
219.6
219.6
227.9
226.7
231.5
243.3
241.3
2
49.2
56.4
64.6
71.6
43.9
49.2
51.4
52.3
53.7
57.7
54.6
59.7
61.9
66.0
61.5
69.0
67.9
69.6
76.5
72.4
3
4
5
6
7
8
9
10
40.2
16.8
5.7
6.0
2.9
3.1
5.8
8.9
46.9
18.7
7.0
6.7
4.5
3.4
6.7
9.5
54.1
19.8
8.2
7.3
6.5
3.9
8.2
10.5
60.4
22.6
9.2
7.7
6.6
4.8
9.6
11.2
35.5
14.2
5.2
5.7
2.3
2.8
5.3
'8.4
39.8
16.3
6.0
6.4
2.5
2.9
5.7
9.3
42.7
18.6
5.5
6.1
3.1
3.5
6.1
8.6
42.8
18.0
5.9
5.7
3.8
3!3
6.1
9.5
44.2
17.4
6.6
5.6
4.4
3.2
6.9
9.5
47.9
20.1
6.0
7.0
4.7
3.4
6.8
9.8
44.8
17.1
6.7
6.7
4.2
3.4
6.7
9.8
50.7
20.2
8.6
7.3
4.7
3.5
6.4
8.9
51.8
19.1
7.7
7.2
5.5
3.8
8.5
10.2
55.4
19.6
7.3
7.4
7.5
4.1
9.5
10.6
50.6
18.4
7.6
7.0
6.5
3.6
7.5
10.9
58.6
22.2
10.3
7.8
6.6
4.4
7.4
10.3
57.4
21.6
8.9
7.2
6.4
4.5
8.9
10.5
58.4
22.6
8.3
7.5
6.4
4.5
9.1
11.2
65.6
22.9
9.4
8.0
8.0
5.5
11.8
10.9
60.2
23.2
10.1
8.0
5.5
4.8
8.6
12.3
11
13.6
13.5
13.3
13.3
13.9
12.4
13.1
15.0
13.6
12.9
12.4
13.8
14.3
12.8
8.3
2.7
2.3
8.4
2.7
2.2
9.4
2.4
2.1
8.1
2.2
2.2
8.9
2.2
2.0
10.4
2.5
2.1
8.3
2.3
2.3
8.0
2.8
2.3
8.6
2.7
2.2
13.1
8.0
2.9
2.1
13.5
8.6
2.6
2.3
13,3
8.2
2.8
2.3
13.2
9.2
2.3
2.1
14.6
9.7
2.6
2.3
13.0
12
13
14
8.4
2.7
2.5
8.3
2.5
2.2
7.6
2.7
2.2
9.1
2.6
2.1
9.1
2.9
2.4
7.9
2.6
2.2
15
127.1
132.7
137.7
145.5
124.1
126.5
133.7
134.1
134.1
136.2
139.5
141.0
141.8
142.9
146.6
150.7
85.2
57.2
28.0
47.5
18.6
86.3
57.8
28.5
51.4
21.5
87.2
58.3
28.9
58.2
25.0
83.3
56.4
26.9
40.8
15.6
84.0
56.5
27.4
42.6
16.1
129.7
84.4
56.8
27.6
45.4
16.8
131.8
84.0
56.6
27.4
43.2
16.3
128.1
84.2
56.7
27.4
44.0
16.7
131.3
16
17
18
19
20
85.3
57.4
27.9
46.0
18.0
85.3
57.4
27.9
46.5
17.9
85.3
57.3
28.0
48.4
18.8
85.0
56.9
28.1
49.1
19.7
85.8
57.4
28.4
48.3
20.0
86.2
57.7
28.4
50.1
21.1
86.5
58.0
28.5
53.0
22.2
86.7
58.1
28.6
54.3
22.9
87.1
58.3
28.8
54.7
23.4
87.2
58.3
28.9
55.7
24.1
87.4
58.4
28.9
59.2
25.3
87.3
58.4
29.0
63.3
27.2
21
22
23
24
25
26
12.0
5.5
3.6
3.2
2.6
0
13.0
5.9
3.7
3.6
2.5
.2
13.2
6.1
4.0
3.5
2.8
.2
15.3
6.6
4.2
3.7
3.1
.3
11.6
5.0
3.4
3.1
2.4
1
11.5
5.8
3.8
2.9
2.5
-.1
11.9
5.4
3.6
3.4
3.1
-.1
13.1
5.8
3.6
3.5
2.5
.1
12.5
5.9
3.6
3.4
2.4
.3
12.8
6.2
3.5
3.3
2.7
0
13.0
5.7
4.0
3.8
2.6
.4
13.5
5.9
3.9
3.7
2.4
— 1
12.1
6.0
3.6
3.5
3.1
0
12.4
6.0
4.0
3.8
2.7
.1
14.1
6.2
4.1
3.4
2.6
.4
14.2
6.3
4.4
3.5
2.7
.2
14.6
6.2
3.6
3.8
2.7
.5
14.6
6.4
3.8
3.6
2.9
.3
15.4
6.8
4.5
3.7
3.2
.2
16.6
7.1
5.0
3.9
3.4
.2
27
3.9
4.6
4.7
5.3
3.5
3.5
4.3
4.4
4.3
4.5
4.9
4.8
4.5
4.3
5.1
5.0
4.6
5.2
5.9
5.4
28
29
2.3
1.6
2.8
1.9
2.8
1.9
3.2
2.0
2.2
1.3
2.1
1.4
:2.6
2.5
1.9
2.2
2.0
2.5
1.9
3.1
1.8
3.1
1.7
2.7
1.8
2.5
1.8
3.1
2.1
3.0
2.0
2.6
2.0
3.2
2.1
3.8
2.1
3.4
2.0
1.7
1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors to operate installations.
2. Includes depot maintenance and contractual services for weapons systems.
3. Includes compensation of foreign personnel, consulting, training, and education.
1985
1984
III
81
SURVEY OF CURRENT BUSINESS
March 1986
Table 3.11.—Government Transfer Payments to Persons
Table 3.13.—Social Insurance Funds Receipts and Expenditures
[Billions of dollars]
[Billions of dollars]
Government transfer payments to persons
Federal
Line
1982
1983
1984
1
396.2
426.6
437.4
2
316 3
340 0
344 4
2736 2945
1537 164 4
508
57.2
252
264
234
202
4
4
3
4
11
55
352
375
199
212
154
163
58
60
14
14
9
9
6
5
2984
1730
62.7
160
132
2
3
23
374
221
153
61
14
10
7
Benefits from social insurance funds
Old-age, survivors, and disability insurance
Hospital and supplementary medical insurance
Unemployment insurance
State
. .
Railroad employees
Federal employees
Special unemployment benefits
Federal employee retirement
Civilian 1
Military 2
Railroad retirement
Veterans life insurance
Workers' compensation
Military medical insurance 3
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Veterans benefits
Pension and disability
Readjustment.
Other 4
18
19
20
21
149
133
16
Food stamp benefits
Black lung benefits
Supplemental security income
Direct relief
Earned income credit
Other 5
22
23
24
25
26
27
99
17
69
11 1
17
74
107
16
83
12
82
12
91
12
94
28
79.9
86.6
93.0
29
30
31
32
33
34
35
36
37
38
39
40
41
42
230
193
1.0
27
518
317
133
21
19
16
12
27
11
13
252
212
1.0
30
561
348
142
20
20
17
13
29
10
14
276
234
1.1
32
603
377
149
21
23
19
14
31
8
13
. . . .
State and local
Benefits from social insurance funds
State and local employee retirement
Temporary disability insurance
Workers' compensation
Public assistance
Medical care
Aid to families with dependent children
Supplemental security income
General assistance
Energy assistance
Other 6
Education
Employment and training ..
Other 7
150
137
14
148
137
11
1. Consists of civil service, foreign service, Public Health Service officers, Tennessee Valley
Authority, and several small retirement programs.
2. Includes the Coast Guard.
3. Consists of payments for medical services for dependents of active duty military personnel
at nonmilitary facilities.
4. Consists of mustering out pay, terminal leave pay, and adjusted compensation benefits.
5. Consists largely of payments to nonprofit institutions, aid to students, and payments for
medical services for retired military personnel and their dependents at nonmilitary facilities.
6. Consists of emergency assistance and medical insurance premium payments paid on behalf
of indigents.
7. Consists largely of foster care, veterans benefits, Alaska dividends, and crime victim
payments.
Table 3.12.—Subsidies Less Current Surplus of Government Enterprises
[Billions of dollars]
Line
1982
1983
1984
Subsidies less current surplus of government enterprises
Contributions for social insurance
Personal contributions
Employer contributions
Government and government enterprises
Other
State and local
Subsidies
Less' Current surplus of government enterprises
Water and sewerage
Gas and electricity
Toll facilities
Liquor stores
Housing and urban renewal
Public transit
Other 3
. . .
Expenditures
Administrative expenses (purchases of goods and services)
Transfer payments to persons
Surplus or deficit ( )
151-498 O - 86 - 4 : QL3
102.9
109.7
121.5
1308
38.1
927
1425
41.5
1010
162.1
43.8
118.3
7
15.0
162
21.8
8
279.6
301.1
305.2
9
10
11
6.0
2736=
6.6
2945
6.9
298.4
— 30.8 -32.7
.2
77.3
41.6
Personal contributions
14
9.4
10.1
10.9
Employer contributions
Government and government enterprises
Other
15
16
17
264
24.1
2.3
285
26.1
2.4
30.7
28.2
2.5
Interest and dividends received
Expenditures
Administrative expenses (purchases of goods and services)
Transfer payments to persons
Surplus or deficit ( )
18
24.9
30.8
35.6
19
23.9
26.2
28.7
...... 20
21
.9
23.0
1.0
25.2
1.1
27.6
22
369
432
48 5
NOTE.—In this table interest and dividends received is included in receipts; in tables 3.1, 3.3,
3.14, 3.16, 3.18, and 9.4, interest received and dividends received are netted against expenditures.
Table 3.14.—Government Expenditures by Function
[Billions of dollars]
Line
Total
l
1
1982
1983
1984
1,111.6 1 190.4 1,279.8
Central executive legislative, and judicial activities
2
343
364
392
International affairs
3
8.0
87
113
Space
4
5.8
69
70
National defense
5
193.5
215.3
236.6
Civilian safety
6
360
395
435
Education
7
1704
1819
1950
Health and hospitals
8
489
518
554
Income support social security, and welfare
9
3635
3876
3950
Veterans benefits and services
10
26.1
272
282
Housing and community services
11
18.4
177
18.8
Recreational and cultural activities
12
8.6
90
95
13
5.3
31
16
14
22.9
16.0
17.5
15
8.2
8.7
8.5
16
524
579
10.1
Natural resources
1. Consists largely of subsidies to railroads and mass transit systems.
2. Consists largely of Federal Deposit Insurance Corporation, Federal Savings and Loan
Insurance Corporation, and Bormeville Power Administration.
3. Consists of State lotteries, off-track betting, local parking, and miscellaneous activities.
283.6
3
4
5
6
69.4
21.1
220
83
118
4
0
14
9
17
25
6
1.6
2.9
.6
11.6
3.9
5.5
1.1
.4
1.2
1.7
-4.8
2.7
305.4
252.2
38.6
13.9
.5
9.8
3.1
4.5
1.1
.5
12
14
4.1
2.2
268.4
233.7
60.7
23.2
217
83
109
3
1
21
15
12
42
5
1.4
2.0
—9.3 -11.0
248.8
35.8
8.7
.5
7.8
2.3
3.5
1.1
.5
1.1
13
-3.5
1.5
1
2
12
16.0
—7.3
1984
13
Receipts ..
Contributions for social insurance
1
16
17
18
19
20
21
22
23
24
25
1983
State and local
2
3
4
5
6
7
8
9
10
11
12
13
14
15
...
Interest received
Agriculture
150
27
98
5
1
19
9
6
35
5
1.2
1.4
1982
Federal
Receipts .
Energy
Federal
Subsidies
Agricultural
Housing
Maritime
Air carriers
Other 1
Less' Current surplus of government enterprises
Postal Service
Commodity Credit Corporation
Federal Housing Administration
.
Tennessee Valley Authority
Other 2
Line
•
Postal service
17
484
11
19
26
Economic development regulation and services
18
4.1
4.0
3.8
Labor training and services
19
61
60
Commercial activities
20
Other and unallocable
-1.8
-2.5
57
-2.9
21
821
960
1206
22
21.8
22.3
25.2
1. Equals Federal Government expenditures less grants-in-aid to State and local governments
plus State and local government expenditures. Total expenditures include employee compensation on a disbursement basis. The estimates by function include employee compensation on an
accrual basis. Wage accruals less disbursements (in millions of dollars) is zero except as follows:
1982, -4; 1983, -445; 1984, 220.
2. Excludes interest received by State and local social insurance funds, which is netted against
expenditures for the appropriate functions.
82
SURVEY OF CURRENT BUSINESS
March 1986
Table 3.15.—Federal Government Expenditures by Type and Function
[Millions of dollars]
"
1982
Line
Total 1
Central executive, legislative, and judicial activities ..
Central administration and management
Tax collection and financial management
Legislative and judicial activities
Other
International affairs
Conduct of foreign affairs and informational
activities.
Foreign economic assistance
Space
.
National defense
Military activities
Civil defense
Foreign military assistance
Other
Civilian safety
Police
. ..
Fire
Correction
Education
Elementary and secondary
Higher
General research and other
Health and hospitals
Income support social security and welfare
Retirement
Old-age and survivors insurance
Government employees civilian
Government employees military
Railroad
.
. .
Disability . . .
. .
Disability insurance (social security)
Government employees civilian
Government employees military
Railroad
Other
Unemployment insurance .
Regular
Extended
Other
Medical care
Hospital and supplementary medical insurance
(Medicare).
Medicaid
Other
Veterans benefits and services
Disability and survivors compensation
Education
H °t 1
H
H' 1
Other
. .
1
Housing and community services
ur an r
a
y
W t
p
t\
Recreational and cultural activities
C
t'on and development of enerev sources
p i ,.
H 1 f
Vj • . P ,.
j
if
Agriculture
Financing farm ownership and utilities
Other
Transportation
Water
Air
Transit
Hiconomic ae e p
T? I f
Other
m
f
,
g.
i n » and services
PP a d finance
• •
Other
Revenue sharing
1
2
3
4
/>
1984
1983
1
Trans- Grants- SubsiTrans- GrantsTrans- Grants- SubsiPurfer
fer
Purless
Purfer
less
in-aid
in-aid dies
in-aid dies
chases paycurrent
current
chases paychases payto
to
to
of
ments
surplus
of
ments
surplus
of
ments
State
ExpendiState
State
ExpendiExpendiand
and
of
of
and
and
tures1 goods
and
and
tures1 goods
tures1 goods
net
net
and
governgovernnet
and
and
local
local
local
serv- inter- government
serv- inter- government
serv- inter- governest
ices
est
enterices
enterest
ices
ments
ments
ments
paid
paid
paid
prises
prises
Subsidies less
current
surplus
of
government
enterprises
93,639
588
529
21,063
-5
5
83856
736
654
9
781,180 272,699 408,652
11,643 10,986
-78
27
4311 3 685
4,298 4,298
2173 2138
861
865
51
7 984 1 678 6314
1715 1680
35
2 6279
6269
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
35
36
37
38
39
40
41
42
5,945 5,818
194,678 93,828
193,948 193,205
41
148
503
503
79
79
1
2,354 2,230
1
1,837 1,781
35
35
482
414
14,254 1,438 5,362
320
121
5549
218 4,863
5,782
900
2923
378
9360 5507
587
339 492 5 283 293 364
174 570 1095 73475
138 585 1059 37526
16,939
16939
13,822
13822
5,224
36 5,188
25,251
420 24,267
18 157
353 17240
3359
3359
1367
1367
5
626
621
1,742
62 1680
27,520
49 25,374
23,105
49 20,959
3538
3538
877
877
69,940 1,217 50,820
52,080 1,217 50,820
127
1,169
1,062
107
7
8
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
17860
38637 1 904
3574
598
26,126 8,365
13493
36
1,641
1
1375
8547 7353
1,070
975
564
15,956
4 514
336
228
8042
3400
1,642 1,107
6,960 7,606
5696 4925
498 1915
766
766
21,446 12,994
16588 10652
2,176
498
823
503
1,859 1,341
5,846 4,673
20,263 6,981
279
8,316
3,839 3,567
3,040 2,655
407
1,255
73
3,813
484
1,084
1782 1,685
530
1,445
393
393
762
56
5,221 1,466
740
4,010
726
1,211
84,560
4580
6
17310
2118
17,664
13493
1,605
1374
1 114
78
96
96
264
35
47
g
8
68
7,454
5,108
701
1645
3266
40 845
564
564
2097
2,097
17903
43
17860
19423
858
102
80
22
7,482
4082
3,400
271
935
771
164
734
2
181
81
472
1,166
11,021
8,033
2
321
61
2,604
7
4
3
— 319
-319
123
55
48
46
15969
-1
1
3
3
714
713
460
460
3,137
2,810
327
1
84,560
4,574
-5
-5
7,814
7814
1,581
1 581
7,670
5936
1,495
239
7
2,254
267
64
787
1,136
600
—620
199
-819
158
158
837 484 284 820 442 802
-14
12,210 11,388
4 372 3 619
34
4,622 4,622
2309 2294
907
853
20
8724 1 797 6947
1815 1780
35
17 6912
6909
6,977 6,850
216,226 215,655
215,725 215,200
151
105
320
320
30
30
1
2,638 2,560
1
2,073 2,048
61
61
504
451
14,439 1,474 6,191
4,749
362
129
6,901
235 5,664
2789
877
398
9194 5598
558
364 945 5383 315 804
187 169 1 101 186 068
149 198 1067 148 131
18 113
18 113
14706
14706
5,152
34 5,118
26,015
396 24,983
18402
356 17410
3534
3534
1383
1383
6
932
938
34 1,724
1758
28765
46 26,372
20,813
46 18,420
7210
7210
742
742
77698 1,376 57,226
58,637 1,376 57,226
19061
41787
3511
27,248
13874
1,390
1400
9364
1,220
16,467
4497
9 167
2,803
1,686
5,981
5,646
483
818
14,427
9056
2,665
819
1,887
6,259
22,285
9,435
4,051
3,528
1,480
3,791
1,912
1,389
1,325
365
-301
5,122
3,937
1,185
94,295
4,615
1825 19006
639 2149
9,087 18,057
13874
27 1,363
1 1399
8038 1236
1,021
185
1,075
16
558
16
517
1,047
7,306
5,077
1411
818
-617
3206
720
512
1,357
5,059
7,328
247
3,788
2,915
326
52
680
1,725
595
365
765
1,419
658
761
425
86218
832
783
15
34
20
20
127
909
863
46
53
6,774
4,258
1,002
1 514
3038
43758
636
636
2,347
2,347
19,096
35
19,061
20956
723
110
90
20
6,726
3923
2,803
214
736
569
167
717
7
143
79
495
1,198
12,575
9,187
7
575
38
2,768
4
1
3
12
12
682
680
464
464
2
3,136
2,815
321
94,295
g
— 338
-338
77
24
42
35
23,199
4
4
4 609
-6
6
8,650
8,650
-2,061
— 2,061
14,285
12262
1,795
228
2
2,378
253
38
1,116
971
1,232
— 1,030
38
-1,068
103
103
898,002 312,940 70,580
96
12,703 12,024
37
4 228 3741
4,831 4,831
2394 2381
133
1250 1071
11 311 2 166 9166
42
2110 2,068
98 9 124
9201
7,130 7,025
237,791 236,970
236,546 235,784
276
217
921
921
48
48
1
2,962 2,880
1
2,334 2,313
48
48
580
519
15795 1,740 6,269
210
6499
417
6,522
257 5,527
532
2774 1 066
10186 6290
579
372 758 5757 319 874
195 415 1 135 194 280
157 515 1 102 156,413
18,892
18892
13,814
13814
5,194
33 5,161
26,387
411 25,339
18741
367 17737
3683
3683
1,300
1,300
6
940
946
1,717
38 1,679
18,268
71 15,893
15,497
71 13,122
2333
2,333
438
438
84,801 1,511 62,683
64,194 1,511 62,683
13
46
—21
— 21
105
1,180
1,121
59
81
20
61
7,786
5,872
738
1 176
3,317
47 127
637
637
2,304
2,304
20,607
20,607
20,607
44242 1947 19507 22,788
791
3,645
682 2,172
28,235 10,024 18,090
126
13,930
13,930
1,125
24 1,101
1445
1445
10406 8816 1479
111
135
15
1,329 1,184
893
16
17,367
7,077
371
16
4675
4288
9906
525
2,786
-3
2,789
1,923 1,124
512
287
5,342 6,942
780
5,763 5,171
592
— 1252
940
188
831
831
32
15,858 2,372
790
800
9851
7
714
2,637
125
562
871
87
2,499 1,896
25
578
6,251 4,783
1,467
6 15,065
24,693 7,856
g
300
11,542
11,239
3
11
4,338 3,993
3,883 3,170
697
1,221
328
35
3,709
65
3,083
2,552
902
844 1,892
610
620
1,237
609
407
407
1
-800
865
4,489 1,293
482
2,685
3,501
621
482
2,398
988
672
287
115,457
115457
4 575
-359
-359
-5
-5
9,381
9381
2,380
2380
12,664
10651
1,791
222
1
1,766
331
16
858
561
1,650
1 658
8
- 1,666
29
29
4 568
1. Total expenditures include employee compensation on a disbursement basis. Expenditures by type and function include employee compensation on an accrual basis. Wage accruals less
disbursements (in millions of dollars) is zero except as follows: 1982, -4; 1983, -445; and 1984, 220.
83
SURVEY OF CURRENT BUSINESS
March 1986
Table 3.16.—State and Local Government Expenditures by Type and Function
[Millions of dollars]
19 82
Line
Total 1
Central executive, legislative, and judicial activities
Administrative legislative and judicial activities
Tax collection and financial management
Civilian safety
Police
Fire
.
. . . .
Correction
Education
Elementary and secondary
Higher
Libraries
Other
Health and hospitals
Health
Hospitals
Income support social security and welfare
Government employees retirement and disability
Workers' compensation and temporary disability
insurance.
Medical care
Welfare and social services
Veterans benefits and services
Housing and community services
Housing, community development, and urban
renewal.
Water
Sewerage
Sanitation
Recreational and cultural activities
Energy
Gas utilities
Electric utilities
Agriculture
Natural resources
Transportation .
Highways
Water
Air
Transit and railroad
Economic development regulation and services
Labor training and services
Commercial activities
Publicly-owned liquor store systems
Government-administered lotteries and
parimutuels.
Other
Net interest paid 2
Other and unallocable
Expenditures1
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
414,255
23,414
12456
10958
33,795
17442
7,273
9080
163,574
114,517
39567
2,113
7377
42,772
11,013
31759
64,886
-3,829
2818
369,015
23,083
12456
10627
33,774
17442
7,273
9059
160 825
114,517
39567
2,113
4628
42,546
11,013
31533
14,251
445
415
20
21
22
23
24
32055
33,842
89
9,944
294
13,391
69
13,543
1,626
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
1,127
5,492
3,031
7,208
749
-77
672
2,201
3,530
39,121
32,622
237
-28
6290
3,051
3,969
— 1,810
493
1859
3,244
5,642
3031
7,208
2,756
166
2590
2201
3530
37324
33,714
495
818
2297
3051
2911
183
2
44
45
46
542
— 2,500
21,760
185
52,540
331
-7,300
331
21
21
2,749
2,749
226
226
50,635
-4,274
2,403
32055
20,451
20
— 3,599
-1,332
-2,117
-150
3,505
-243
3262
1797
-1,092
258
-846
3993
1,058
1,993
491
1859
357
2,500
21,760
19 84
19 S3
Transfer Subsidies
payPurless
ments
chases of and
current
net surplus
of
goods
interest
and
less governservices paid
ment
dividends enterprises
Expenditures1
Transfer Subsidies
payless
Purments
current
chases of and
net surplus
goods
of
interest
and
less government
services paid
dividends enterprises
439,115
24,988
13394
11594
36,933
18649
7818
10466
174 246
122,335
42140
2,311
7460
45,654
11,816
33838
66,400
-7,516
2965
390,873
24,652
13394
ll'258
36,910
18649
7818
10443
171 356
122 335
42140
2311
4570
45421
11,816
33605
15102
506
464
35197
35,754
109
7,993
226
14132
89
12,524
1,647
-158
4,757
3168
7,532
2184
-167
2017
2330
3617
42644
34,852
106
149
7537
3,300
4,005
-2,452
490
2,470
2435
5,274
3168
7532
2280
122
2158
2330
3617
40321
35,944
382
1,078
2917
3,300
2,999
181
17
508
1,741
22,259
198
57,547
336
336
23
23
2 890
2890
233
233
51298
-8,022
2501
35197
21622
20
4,531
— 1,421
2,593
-517
4,464
-289
4 175
2,323
-1,092
276
-929
4 620
1,006
-2,633
473
— 2470
310
1,741
22,259
9,305
Expenditures1
Transfer Subsidies
payPurless
ments
current
chases of and
net surplus
goods
of
interest
and
less government
services paid
dividends enterprises
475,393
27,108
14500
12 608
40,602
20252
8396
11 954
186 956
131 174
45446
2581
7755
48 557
12889
35668
69 320
10020
3100
423,875
26,942
14500
12442
40,575
20252
8396
11927
183 893
131 174
45446
2581
4692
48316
12889
35 427
16236
575
527
38199
38041
124
8518
-176
15134
110
14038
1,489
75
5,337
3432
7837
2,990
-216
2774
2474
3,693
48224
39,105
12
439
8692
3,590
3,931
—2,923
419
2895
2994
6,123
3432
7,837
2,527
93
2434
2,474
3,693
45,106
40,186
315
1,360
3245
3,590
3,152
149
12
391
5,135
25,237
161
62,509
166
-10,991
166
27
27
3063
3063
241
241
53 084
10 595
2573
38199
22907
14
5520
-1,665
3069
-786
5517
-309
5208
3,118
-1,081
327
-921
5447
779
3,072
407
2895
230
5135
25,237
1. Total expenditures include employee compensation on a disbursement basis. Expenditures by type and function include employee compensation on an accrual basis. Wage accruals less
disbursements in 1982, 1983, and 1984 is zero.
2. Excludes interest received by social insurance funds, which is netted against expenditures for the appropriate functions.
84
SURVEY OF CURRENT BUSINESS
March 1986
Table 3.17B.—Relation of Federal Government Receipts and Expenditures in the National Income and Product Accounts to the Unified Budget,
Fiscal Years
[Billions of dollars]
Calendar quarters not seasonally adjusted
Line
1982
1983
1984
1982
I
Receipts
Unified budget receipts .
. . .
Less: Coverage differences l . . . . . .
Financial transactions
Plus: Netting differences:
Contributions
to government employee retirement funds
Other 2
Timing differences:
Corporate income tax
Withheld personal income tax and social security
contributions.
Excise taxes .
Other
.
Miscellaneous ^
Equals: Federal Government receipts, national income and product
accounts.
Expenditures
Unified budget outlays
..... . . .
.
Less: Coverage differences:
4
Geographic
OSS- *
Financial transactions:
Net lending
Net purchases of foreign currency
.......
Other
Net purchases of land:
Outer Continental Shelf
Other
Plus: Netting differences:
Contributions
to government employee retirement funds
Other 2 .
Timing differences:
Purchases of goods and services (increase in payables net of
advances).
Interest
Transfer payments
<
Subsidies less current surplus of government enterprises
Miscellaneous 6 .
.
*
Equals: Federal Government expenditures, national income and
product accounts.
1984
1983
II
III
IV
I
II
III
IV
I
II
III
IV
1
2
3
617.8
1.4
0
600.6
1.1
0
666.5
1.2
0
143.6
.7
0
178.9
.3
0
149.3
.3
0
137.0
.2
0
139.8
.3
0
166.5
.3
0
157.2
.3
0
149.4
.2
0
154.9
.4
0
186.9
.3
0
175.2
.3
0
166.1
.3
0
4
5
25.7
9.8
28.3
9.7
29.7
13.0
6.2
2.5
6.5
2.6
6.7
2.1
6.8
2.1
7.0
2.5
7.2
2.7
7.3
2.4
7.3
2.6
7.3
3.7
7.5
3.6
7.5
3.1
7.8
3.7
6
7
8
-11.1
.4
2.6
4.2
1.6
.3
1.6
.3
1.6
-2.8
5.2
1.7
-9.5
-2.9
.6
2.6
14
.2
1.4
6
-2.3
1.7
6.5
1.9
-2.4
-2.9
.4
3.4
14
,3
1.1
7
-1.4
4.7
8.2
1.7
-.8
25
.6
-.2
7
-3.0
9
10
11
12
-.7
.2
0
643.3
.7
.3
0
644.6
-1.0
.1
-.3
710.1
-.4
.3
0
155.7
-.1
.1
0
176.0
-.1
0
1
— 1
1.0
.2
0
172.3
— 4
"l
0
168.6
-.3
.3
0
158.1
2
-.2
0
179.7
— 2
0
159.1
0
189.6
.1
0
2
159.0
.3
0
0
144.6
-3.4
47
.7
_7
182.7
0
173.1
13
728.4
795.9
841.8
167.3
181.4
185.5
205.3
200.8
195.7
194.1
212.7
209.3
211.4
208.4
238.6
4.8
5.0
-17.2 -12.1
5.0
-9.6
1.2
-2.2
1.2
-5.7
1.3
-5.9
1.2
-1.1
1.2
-1.5
1.2
-4.3
1.2
-5.2
1.2
1.0
1.2
-2.1
1.3
-3.7
1.3
-4.8
1.3
1.0
4.8
0
.4
9.9
0
0
14
15
6
6
6
16
17
18
19.4
0
.7
15.7
0
3
17.6
0
.6
4.7
0
.1
5.8
0
.4
4.8
0
.1
2.8
0
.1
4.2
0
0
4.4
0
.1
4.3
0
5
3.8
0
.2
4.6
0
-.3
4.3
0
.3
19
20
-2.4
.2
-7.5
.1
34
.1
9
.1
-.3
0
1
0
25
0
0
0
37
0
13
0
0
0
-.7
0
16
0
21
22
25.7
9.8
28.3
9.7
29.7
13.0
6.2
2.5
6.5
2.6
6.7
2.1
6.8
2.1
7.0
2.5
7.2
2.7
7.3
2.4
7.3
2.6
7.3
3.7
7.5
3.6
7.5
3.1
23
-2.0
.9
1.7
-.1
-.3
-.8
-.4
.4
.7
.2
.4
.2
.9
.1
.7
-.3
1.8
-.3
0
208.1
-.1
0
-6
.1
207.9
-.4
.2
1.1
0
206.6
-.1
1.9
.1
0
214.9
-.5
.2
1.0
0
218.5
-.6
.2
-1.6
-.1
220.1
.2
3.6
1
-.4
222.0
0
2.6
.6
.1
237.3
24
25
26
27
28
-1.1
.5
0
.2
755.9
.8
0
0
.2
833.5
-1.1
1.7
— .4
-.6
875.6
-.3
14.1
8
.1
187.7
-.2
0
-.6
.1
188.0
-.2
.1
12
.1
194.5
0
-2.0
-.3
.1
211.0
-1.1
0
-.6
.1
7.8
3.7
1. Consists largely of contributions for social insurance by residents of U.S. territories and Puerto Rico.
2. Consists largely of proprietary receipts that are netted against outlays in the unified budget, and classified as receipts in the national income and product accounts.
3. Consists largely of Treasury receipts from sales of foreign currencies to Government agencies.
4. Consists largely of transfer payments, subsidies, and grants-in-aid to residents of U.S. territories and Puerto Rico.
5. Consists of agencies not included in the unified budget, such as the Postal Service and the Federal Financing Bank, and net purchases of silver and minor coin metal.
6. Consists largely of net expenditures of foreign currencies.
85
SURVEY OF CURRENT BUSINESS
March 1986
Table 3.18.—Relation of State and Local Government Receipts and
Expenditures in the National Income and Product Accounts to Bureau of Census Governmental Finances Data, Fiscal Years
Table 3.19.—Relation of Commodity Credit Corporation Expenditures in
the National Income and Product Accounts to Commodity Credit
Corporation Outlays in the Unified Budget
[Billions of dollars]
[Billions of dollars]
Line
1982
1983
1984
1
547.7
593.6
652.1
2
16.9
21.6
16.8
3
4
5
29
1.1
6
10
1.3
8
16
1.4
8
6
54.8
60.5
66.2
Receipts
Census total revenue *
.
..
Less: Coverage differences:
Unemployment insurance fund contributions and
earnings.
Certain grant programs
Financial transactions
Sale of land
Netting and grossing differences:
Enterprise current operating expenditures plus current
surplus.
Government sales
Interest received .
Employer contributions to own social insurance funds
Dividends received
Medical vendor payments to public hospitals
7
8
9
10
11
132
143
156
55.3
43.5
50.8
-14.8 -15.1 -16.8
29
30
27
-5.4
-5.8
-4.7
Property taxes
Corporate profits taxes
Other
Miscellaneous
Equals: State and local government receipts, national income
and product accounts.
Expenditures
12
13
14
15
16
14
-1.4
3
0
11
-1.3
33
0
437.6
463.8
518.2
Census total expenditures1
Less: Coverage differences:
Unemployment insurance fund benefits paid
Purchases of land
Netting and grossing differences:
Enterprise current operating expenditures plus current
surplus.
Government sales
Interest received
Employer contributions to own social insurance funds
Dividends received
Medical vendor payments to public hospitals
17
524.8
5666
600.6
18
19
18.1
27
24.2
28
14.1
30
20
54.8
60.5
66.2
Plus: Timing differences:
Excess of accruals over disbursements, and other
Miscellaneous
Equals: State and local government expenditures, national
income and product accounts.
18
1.0
1.4
0
IB 2
143
156
43.5
50.8
55.3
-14.8 -15.1 -16.8
2.7
2.9
3.0
-47 -54 -5.8
26
27
—77
5
28
402.1
58 — 10.0
7
o
426.5
455.9
1. The Bureau of the Census measures of State and local government receipts and expenditures (lines 1 and 17) represent a combination of fiscal years. Virtually all States and many
localities use July 1-June 30 fiscal years; the rest use varying fiscal years. The national income
and product account measures shown in this table are for the fiscal year ending June 30. The
differences that arise from restating the Census data to a year ending June 30 are included in
lines 12, 13, and 14 (receipts) and line 26 (expenditures).
Less* Financial transactions
Netting differences
Timing differences
Other *
.
.
.
1982
1983
1984
1
. . . . . . 2
3
4
5
16.6
10
0
1
-.1
9.1
17
-.4
3
-.1
9.9
15
-.9
4
-.1
6
15.8
8.1
9.0
9.9
9.2
7
.7
0
-.6
59
2.4
-35
-42
-5.7
14
.8
0
-.7
123
8.1
42
19
-3.6
17
9
0
-7
107
8.1
25
Commodity Credit Corporation outlays in the unified budget
Plus: Timing differences:
21
22
23
24
25
Line
Equals: Commodity Credit Corporation expenditures, national
income and product accounts.
7
Purchases of goods and services
8
Change in inventories
Other purchases
.. . . . 9
10
Transfer payments to foreigners
11
Grants-in-aid to State and local governments
12
Net interest paid
13
Subsidies less current surplus '
14
Subsidies
15
Less* Current surplus
1. Consists largely of foreign currency transactions.
86
SURVEY OF CURRENT BUSINESS
March 1986
4. Foreign Transactions
Table 4.1.—Foreign Transactions in the National Income and Product Accounts
[Billions of dollars]
Seasonally adjusted at annual rates
Line • 1982
1983
1984
1985
1982
II
I
III
IV
I
1985
1984
1983
II
III
IV
I
II
III
IV
I
II
ni
IV
1
361.9
354.1
384.6
369.9
373.0
378.9
359.9
335.9
344.6
345.0
358.0
368.8
375.4
382.3
391.4
389.5
379.6
369.2
363.2
367.8
Exports of goods and services
Merchandise
Durable goods
Nondurable goods
Services
Factor income 1
Other
2
3
4
5
6
7
8
361.9
214.0
121.9
92.1
148.0
91.6
56.3
354.1
206.0
117.9
88.1
148.1
89.7
58.4
384.6
224.1
129.3
94.8
160.5
101.6
58.9
369.9
218.9
133.2
85.8
151.0
90.6
60.4
373.0
225.1
126.8
98.3
147.9
90.8
57.1
378.9
224.0
126.9
97.1
155.0
98.0
57.0
359.9
210.5
123.0
87.6
149.4
93.2
56.2
335.9
196.3
111.1
85.3
139.6
84.5
55.0
344.6
200.8
114.7
86.0
143.8
83.8
60.0
345.0
200.4
115.3
85.1
144.6
86.5
58.1
358.0
205.0
117.1
87.9
153.0
94.5
58.5
368.8
217.7
124.3
93.5
151.1
94.2
56.9
375.4
218.7
125.6
93.1
156.7
98.4
58.3
382.3
223.0
127.8
95.2
159.3
101.2
58.1
391.4
225.8
131.1
94.7
165.6
105.7
59.8
389.5
229.0
132.9
96.1
160.5
100.9
59.6
379.6
225.8
134.4
91.3
153.8
91.7
62.1
369.2
219.7
134.6
85.1
149.5
90.8
58.7
363.2
213.6
132.7
80.9
149.6
89.6
60.0
367.8
216.6
130.9
85.7
151.2
90.2
61.0
Capital grants received by the
United States (net).
9
Receipts from
foreigners.
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
361.9
354.1
384.6
369.9
373.0
378.9
359.9
335.9
344.6
345.0
358.0
368.8
375.4
382.3
391.4
389.5
379.6
369.2
363.2
367.8
11
12
13
14
15
16
17
335.6
249.5
125.3
124.2
86.1
40.5
45.7
359.4
271.4
147.0
124.4
88.0
39.1
48.9
443.8
336.0
193.6
142.4
107.9
53.6
54.3
448.4
341.2
204.1
137.1
107.2
49.7
57.5
338.4
252.6
129.1
123.6
85.7
40.5
45.2
336.8
246.2
129.8
116.4
90.6
44.4
46.2
345.4
259.2
126.6
132.5
86.2
41.2
45.0
321.9
239.9
115.6
124.3
82.0
35.8
46.2
316.2
236.1
129.2
106.8
80.1
34.4
45.7
347.5
261.6
138.9
122.8
85.9
37.5
48.4
377.6
285.4
149.4
136.0
92.2
41.7
50.5
396.2
302.5
170.6
131.9
93.7
42.7
51.0
412.8
314.9
178.6
136.3
97.9
47.0
50.9
447.6
338.1
193.3
144.8
109.6
56.2
53.4
453.3
340.4
197.5
142.9
112.9
57.3
55.6
461.7
350.6
204.8
145.8
111.1
54.0
57.1
421.9
316.1
190.8
125.2
105.8
48.9
56.9
439.5
331.9
195.4
136.5
107.6
50.6
57.0
451.0
343.5
207.3
136.2
107.5
49.9
57.5
481.2
373.2
222.8
150.4
108.0
49.4
58.6
18
Transfer payments (net)
From persons (net)
19
From government (net) . . . . 20
9.0
1.3
7.8
9.5
1.0
8.5
12.0
1.3
10.7
15.5
2.1
13.4
9.4
1.3
8.0
8.1
1.4
6.8
8.0
1.2
6.8
10.6
1.1
9.5
7.1
.9
6.2
8.2
1.0
7.2
9.5
1.1
8.4
13.3
1.2
12.2
9.5
1.4
8.1
9.6
1.2
8.3
12.1
1.2
11.0
17.0
1.5
15.5
13.3
2.1
11.2
14.3
1.8
12.5
16.9
2.2
14.7
17.6
2.2
15.4
Interest paid by government to
foreigners.
21
18.3
17.8
19.8
21.3
18.0
17.5
18.8
18.9
17.7
17.5
17.8
18.3
18.6
19.1
20.2
21.2
21.2
21.1
21.5
21.5
Net foreign investment
22
-115.3
7.3
16.5
Payments to foreigners.... 10
Imports of goods and services
Merchandise
Durable goods
Nondurable goods
Services
Factor income1
Other
-1.0
-32.7
-91.0
-12.3
-15.4
3.6
-28.2
-47.0
-59.0
-65.5
-93.9
-94.3 -110.4
-76.8 -105.8 -126.2 -152.5
1. Line 7 less line 16 equals rest-of-the-world product as shown in table 1.7.
Table 4.2.—Exports and Imports of Goods and Services in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1985
1982
I
Exports of goods and services... 1
II
III
IV
I
II
1985
1984
1983
III
IV
I
II
III
IV
I
II
III
IV
361.9
349.4
370.9
359.9
374.1
378.5
359.5
336.0
342.8
342.4
353.1
359.1
362.7
366.6
376.9
377.3
368.7
358.2
353.5
359.2
Merchandise .. .
Durable goods . . . .
Nondurable goods
2
3
4
214.0
121.9
92.1
207.2
119.3
87.9
222.5
130.7
91.8
224.6
136.3
88.3
222.9
127.6
95.2
222.5
126.8
95.7
211.4
122.5
89.0
199.1
110.8
88.3
203.0
114.8
88.2
202.9
116.8
86.1
206.8
119.4
87.4
216.2
126.2
90.0
216.1
126.7
89.4
218.7
128.5
90.2
224.6
132.6
92.0
230.7
135.1
95.7
229.3
137.1
92.2
223.9
137.4
86.5
220.0
135.8
84.2
225.1
134.9
90.2
Services
Factor income 1 . . .
Other
5
6
7
148.0
91.6
56.3
142.1
86.2
55.9
148.3
93.4
54.9
135.3
80.3
55.0
151.2
92.6
58.6
155.9
98.6
57.3
148.0
92.4
55.6
136.9
83.0
53.8
139.8
81.7
58.1
139.4
83.6
55.9
146.3
90.5
55.8
142.9
89.1
53.8
146.6
91.8
54.8
147.8
93.5
54.3
152.3
96.8
55.5
146.5
91.5
55.1
139.4
82.4
57.0
134.3
80.7
53.6
133.5
79.1
54.4
134.0
78.9
55.2
Imports of goods and services- 8
335.6
368.8
455.9
468.3
333.7
336.8
347.8
324.3
320.3
357.4
389.3
408.0
423.3
457.0
465.6
477.5
440.5
459.3
473.3
500.0
249.5
125.3
124.2
86.1
40.5
45.7
282.3
150.3
132.0
86.4
37.4
49.0
352.1
201.5
150.6
103.8
48.9
54.9
366.5
216.6
150.0
101.7
43.6
58.1
247.6
127.4
120.2
86.0
41.4
44.6
246.1
129.0
117.1
90.7
44.7
46.0
261.5
127.6
133.9
86.3
40.8
45.5
242.7
117.1
125.6
81.6
35.1
46.5
241.2
130.8
110.5
272.7
141.1
131.6
316.6
175.8
140.8
328.5
184.1
144.3
351.4
199.5
151.9
357.4
206.6
150.8
371.0
215.7
155.3
338.9
203.9
135.0
356.9
208.0
148.9
371.5
220.9
150.6
79.1
33.5
45.6
84.6
36.2
48.5
298.8
153.7
145.1
90.5
39.8
50.7
91.4
40.1
51.2
94.8
43.6
51.3
105.6
51.6
54.0
108.2
52.0
56.2
106.5
48.5
58.0
101.6
43.5
58.1
102.5
44.6
57.9
101.8
43.7
58.1
398.9
233.5
165.4
101.1
42.8
58.3
Merchandise . .
Durable goods
Nondurable goods
Services
Factor income 1 .
Other
9
10
11
12
13
14
1. Line 6 less line 13 equals rest-of-the-world product as shown in table 1.8.
87
SURVEY OF CURRENT BUSINESS
March 1986
Table 4.3.—Merchandise Exports and Imports by Type of Product and by End-Use Category
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1985
1982
I
II
1984
1983
III
IV
I
II
III
IV
I
1985
II
III
IV
I
II
III
IV
1
214.0
218.9
225.1
196.3
213.6
216.6
342
59.1
33.1
58.4
315
62.2
31.7
62.5
225.8
26.4
60.8
219.7
28.1
57.2
225.8
29.6
62.6
229.0
28.5
59.1
205.0
31.5
57.2
223.0
34.0
66.9
200.4
30.0
55.9
218.7
23.7
58.4
200.8
30.9
54.8
217.7
31.5
61.4
224.0
35.9
63.3
210.5
31.6
61.6
206.0
31.6
56.7
224.1
2
3
23.6
57.3
20.8
57.1
23.9
58.3
4
5
6
7
8
9
10
11
12
13
16.9
44.7
73.7
17.4
14.7
6.5
8.2
15.0
7.5
7.5
16.3
40.4
68.9
18.7
14.0
6.0
8.0
16.0
8.0
8.0
17.0
44.4
73.7
22.3
13.9
5.7
8.2
21.2
10.6
10.6
16.1
42.3
75.4
24.7
13.0
5.1
7.9
23.7
11.9
11.9
18.0
48.9
77.3
17.6
15.0
6.7
8.3
14.3
7.2
7.2
17.6
45.7
76.6
18.8
15.3
6.8
8.5
14.0
7.0
7.0
16.3
42.8
73.8
18.3
144
6.3
8.1
16.3
8.2
8.2
15.7
41.6
66.9
14.8
142
6.1
8.1
15.1
7.6
7.6
15.1
39.6
69.4
16.4
139
6.1
7.9
15.3
7.7
7.7
16.1
39.7
67.4
18.4
137
5.9
7.8
14.9
7.5
7.5
16.8
40.4
67.9
18.4
142
6.0
8.1
15.9
8.0
8.0
17.1
42.0
70.8
21.4
143
6.0
8.3
17.9
9.0
9.0
16.4
42.0
71.0
22.1
139
6.0
8.0
20.2
10.1
10.1
17.3
44.9
72.7
21.5
139
5.7
8.3
21.1
10.6
10.6
16.8
45.8
74.6
23.3
140
5.5
8.5
21.7
10.9
10.9
17.4
45.1
76.6
22.4
138
5.6
8.2
21.9
10.9
10.9
16.1
44.7
77.0
23.9
137
5.4
8.3
24.0
12.0
12.0
16.4
40.9
75.4
24.9
131
5.2
7.9
25.4
12.7
12.7
16.1
41.0
74.8
25.7
12.5
4.7
7.7
22.8
11.4
11.4
15.6
42.7
74.4
24.4
12.9
5.2
7.7
22.8
11.4
11.4
Merchandise imports
14
259.2
261.6
343.5
373.2
20.7
60.7
20.5
65.5
350.6
22.2
64.9
331.9
18.2
49.9
340.4
22.1
63.3
316.1
17.7
47.6
302.5
18.9
58.0
338.1
18.6
46.4
285.4
19.2
53.9
314.9
17.1
47.1
239.9
17.6
45.0
236.1
21.3
59.6
252.6
15.2
49.4
246.2
18.5
52.3
336.0
21.4
63.6
341.2
15
16
249.5
17.1
46.9
271.4
Foods, feeds, and beverages
Industrial supplies and
materials, excluding
petroleum.
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
21.5
57.5
20.4
60.1
20.9
60.1
22.5
60.6
17
18
19
20
21
22
23
24
25
26
27
23.6
23.4
61.3
38.3
34.1
39.7
23.3
16.4
12.1
6.0
6.0
27.5
24.9
55.0
43.1
43.5
47.0
26.9
20.0
12.1
6.0
6.0
33.6
30.0
57.5
61.2
57.2
61.3
34.7
26.7
13.8
6.9
6.9
30.5
29.1
50.5
63.7
65.4
65.0
36.7
28.3
15.7
7.8
7.8
26.0
23.4
63.3
40.1
32.0
40.5
24.8
15.7
12.1
6.0
6.0
24.1
23.0
53.3
40.5
36.0
38.8
22.5
16.3
13.4
6.7
6.7
22.5
23.8
67.2
38.4
37.0
40.5
23.1
17.3
11.3
5.6
5.6
21.6
23.4
61.2
34.3
31.3
38.9
22.6
16.3
11.6
5.8
5.8
24.4
23.2
42.7
36.8
38.0
41.8
24.3
17.5
11.5
5.8
5.8
25.9
24.1
55.1
39.3
42.1
45.1
25.6
19.5
12.0
6.0
6.0
28.9
25.0
65.3
44.4
42.6
48.0
27.6
20.4
12.1
6.1
6.1
30.8
27.2
56.9
51.7
51.3
53.1
30.4
22.7
12.6
6.3
6.3
32.0
28.8
55.5
55.2
53.4
55.9
31.3
24.6
13.5
6.7
6.7
35.5
30.0
59.8
59.6
56.6
62.0
34.5
27.5
13.9
7.0
-7.0
33.4
29.9
57.0
64.0
57.0
63.6
36.4
27.2
13.5
6.7
6.7
33.7
31.2
57.8
65.9
61.7
63.8
36.4
27.4
14.3
7.1
7.1
29.2
28.3
41.9
61.3
57.8
60.8
34.9
25.9
15.3
7.6
7.6
30.8
29.3
52.3
59.3
62.3
61.4
34.9
26.5
16.1
8.0
8.0
31.5
28.6
50.2
64.2
66.3
66.7
37.8
28.9
15.0
7.5
7.5
30.4
30.2
57.5
70.1
75.2
71.1
39.1
32.0
16.2
8.1
8.1
Merchandise exports
Foods, feeds, and beverages
Industrial supplies and
materials.
Durable goods
Nondurable goods
Capital goods, except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other
.
Durable goods
Nondurable goods
Addenda:
Exports of agricultural
products 1.
Exports of nonagricultural
products.
Imports of nonpetroleum
products.
28
37.2
37.2
38.3
29.1
40.1
41.7
33.6
33.5
35.4
35.3
37.6
40.5
39.9
37.9
36.6
38.9
32.7
28.5
26.1
29.3
29
176.8
168.8
185.8
189.8
185.0
182.3
176.9
162.8
165.4
165.1
167.4
177.3
178.8
185.1
189.2
190.1
193.1
191.2
187.5
187.3
30
188.2
216.4
278.5
290.7
189.3
192.9
192.0
178.7
193.4
206.5
220.1
245.7
259.4
278.3
283.4
292.8
274.2
279.6
293.3
315.8
1. Includes parts of line 2 and line 5.
Table 4.4.—Merchandise Exports and Imports by Type of Product and by End-Use Category in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1985
1982
I
II
III
IV
I
II
1985
1984
1983
III
IV
I
II
III
IV
I
II
III
IV
Merchandise exports
1
214.0
207.2
222.5
224.6
211.4
199.1
203.0
216.2
216.1
218.7,
224.6
230.7
229.3
223.9
220.0
225.1
31.6
61.6
30.3
58.4
29.3
61.3
24.8
61.0
35.0
62.5
29.3
59.9
29.8
58.8
31.4
56.6
202.9
29.6
57.9
206.8
2
3
222.9
32.4
65.4
222.5
Foods, feeds, and beverages
Industrial supplies and
materials.
Durable goods
Nondurable goods
Capital goods, except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Merchandise imports
Foods, feeds, and beverages
Industrial supplies and
materials, excluding
petroleum.
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Addenda:
29.8
59.1
30.5
60.0
29.7
58.7
28.0
61.2
27.8
62.3
31.6
62.9
26.7
62.3
23.9
59.7
22.0
60.6
26.5
61.3
4
5
6
7
8
9
10
11
12
13
16.9
44.7
73.7
17.4
14.7
6.5
8.2
15.0
7.5
7.5
16.8
44.2
79.8
22.6
13.0
5.4
7.6
23.4
11.7
11.7
366.5
17.6
47.8
78.3
17.9
14.7
6.7
7.9
14.2
7.1
7.1
247.6
16.7
45.5
78.0
21.7
13.9
5.7
8.1
21.0
10.5
10.5
357.4
17.5
45.5
80.2
20.9
13.8
5.9
7.9
21.4
10.7
10.7
371.0
16.5
45.8
80.9
22.2
13.7
5.8
7.9
23.6
11.8
11.8
338.9
16.4
44.9
79.6
22.1
12.9
5.5
7.4
22.7
11.4
11.4
398.9
17.6
46.5
18.9 • 20.5
62.3
64.4
19.9
68.9
21.4
67.8
22.2
70.5
21.7
64.8
356.9
20.9
68.3
17.1
43.5
79.2
23.2
12.4
5.0
7.4
22.6
11.3
11.3
371.5
14.9
47.8
298.8
19.2
56.4
17.1
44.1
75.5
20.1
13.8
5.8
8.0
20.2
10.1
10.1
351.4
21.8
68.2
16.7
41.1
68.8
17.9
13.8
5.9
7.9
14.9
7.5
7.5
272.7
18.3
52.4
16.5
42.2
73.5
20.8
13.9
6.1
7.8
19.5
9.7
9.7
328.5
21.0
67.9
15.6
41.0
69.4
16.1
14.1
5.9
8.1
15.4
7.7
7.7
241.2
18.0
49.7
17.4
42.6
73.7
20.3
14.3
6.1
8.2
17.4
8.7
8.7
316.6
18.6
55.2
16.5
43.3
73.4
18.2
14.4
6.2
8.2
16.4
8.2
8.2
261.5
18.9
47.1
16.1
42.7
66.4
14.6
14.3
6.1
8.2
15.3
7.7
7.7
242,7
15
16
17.4
45.1
76.6
18.9
15.5
6.9
8.6
13.9
7.0
7.0
246.1
17.1
46.5
17.1
42.6
79.5
22.8
13.1
5.5
7.6
24.9
12.4
12.4
249.5
17.1
46.9
16.9
44.3
76.8
20.9
13.8
5.9
8.0
20.5
10.2
10.2
352.1
17.3
41.7
70.4
17.7
14.1
6.1
8.0
15.8
7.9
7.9
14
16.8
41.6
70.6
18.0
14.1
6.0
8.0
15.9
7.9
7.9
282.3
21.7
68.9
23.1
70.7
17
18
19
20
21
22
23
24
25
26
27
23.6
23.4
61.3
38.3
34.1
39.7
23.3
16.4
12.1
6.0
6.0
29.0
26.2
60.7
45.6
42.5
47.5
27.1
20.3
12.2
6.1
6.1
35.9
32.0
64.7
68.2
54.7
61.6
35.7
25.9
14.0
7.0
7.0
34.9
33.3
59.8
74.3
61.1
65.2
38.2
26.9
16.2
8.1
8.1
25.2
22.5
61.2
39.7
31.9
40.2
24.6
15.7
11.9
5.9
5.9
23.8
22.6
54.5
40.3
35.9
38.6
22.4
16.2
13.3
6.6
6.6
22.9
24.2
67.8
38.5
37.2
40.5
23.2
17.3
11.4
5.7
5.7
22.3
24.1
61.6
34.8
31.3
39.3
22.8
16.4
11.7
5.9
5.9
25.4
24.3
44.5
37.6
37.6
42.1
24.3
17.8
11.7
5.9
5.9
27.1
25.3
62.0
41.0
41.3
45.5
25.6
19.9
12.1
6.1
6.1
30.2
26.1
72.8
47.6
41.9
48.7
27.9
20.8
12.3
6.1
6.1
33.1
29.2
63.5
56.0
49.5
53.6
30.7
22.9
12.8
6.4
6.4
37.3
31.6
66.6
65.7
54.2
62.2
35.3
26.9
14.0
7.0
7.0
35.8
32.0
64.3
71.9
54.5
63.8
37.6
. 26.2
13.7
6.8
6.8
36.5
33.9
65.8
75.3
58.5
64.0
38.0
26.0
14.6
7.3
7.3
32.9
31.9
48.8
71.4
55.0
61.3
36.7
24.6
15.9
7.9
7.9
35.0
33.3
60.9
69.0
58.9
62.2
36.7
25.4
16.7
8.4
8.4
36.1
32.8
60.9
75.1
62.4
67.0
39.6
27.4
15.6
7.8
7.8
35.4
35.2
68.5
81.9
68.0
70.3
40.0
30.3
16.5
8.3
8.3
Exports of agricultural
products *.
Exports of nonagricultural
products.
Imports of nonpetroleum
products.
28
37.2
35.6
35.3
30.0
38.4
41.0
34.5
35.1
35.9
34.7
35.5
36.3
35.8
33.5
33.7
38.0
32.5
28.5
27.2
31.7
29
176.8
171.6
187.3
194.6
184.5
181.5
177.0
164.0
167.1
168.2
171.3
179.9
180.4
185.2
190.8
192.7
196.8
195.4
192.8
193.4
30
188.2
221.7
287.4
306.7
186.5
191.6
193.6
181.1
196.8
210.7
226.0
253.1
266.4
284.8
293.1
305.2
290.0
296.0
310.6
330.4
1. Includes parts of line 2 and line 5.
33.9
30.5
62.1
59.9
51.5
56.4
32.0
24.4
13.6
6.8
6.8
SURVEY OF CURRENT BUSINESS
March 1986
Table 4.5.—Relation of Foreign Transactions in the National Income
and Product Accounts (NIPA's) to the Corresponding Items in the
Balance of Payments Accounts (BPA's)
[Billions of dollars]
Line
1982
1983
1984
Exports of goods and services, BPA's
Less- Gold BPA's *
Capital gains net 2of losses in direct investment income
receipts, BPA's .
Statistical differences 3
. . . .
Other items
Plus: Adjustment for U.S. territories and Puerto Rico 4
Services furnished without payment by financial
intermediaries except life insurance carriers and private
noninsured.
Equals' Exports of goods and services NIPA's.
1
2
3
350.1
22
-2.1
334.6
1.7
-6.5
362.0
2.2
-8.4
4
5
6
7
0
0
9.1
2.8
0
0
10.6
4.1
11-.5
5.0
8
361.9
354.1
384.6
Imports of goods and services, BPA's
Less: Payments of income on U.S. Government liabilities 5
Gold BPA's1
...
Capital gains net of2 losses in direct investment income
payments, BPA's .
Statistical differences 3
Other items
Plus- Gold NIPA's l
Adjustment for U.S. territories and Puerto Rico 4
Imputed interest paid to foreigners
Equals: Imports of goods and services, NIPA's
9
10
11
12
350.0
18.3
3.4
0
371.7
17.8
2.4
.4
458.0
19.8
3.4
.7
13
14
15
16
17
18
Balance on goods and services, BPA's (1—9)
Less: Gold (2— 11 + 15)
Capital gains net of losses in direct investment income,
BPA's (3-12).
Statistical differences (4 13)
Other items (5-14).
.
Plus: Payments of income on U.S. Government liabilities (10)
Adjustment for U S territories and Puerto Rico(6 16)
Equals- Net exports of goods and services NIPA's (8 18)
19
20
21
0
0
0
.6
.8
.6
0
0
.3
5.4
4.9
4.9
4.1
5.0
2.8
335.6 359.4 443.8
.1 -37.1 -95.9
1.2
.7
-.9
-7.0
-9.1
-2.1
Allocations of special drawing rights BPA's
Plus: Other items
Equals: Capital grants received by the United States, net,
NIPA's.
27
28
29
0
-.8
18.3
42
263
0
0
0
30
8.1
8.9
31
32
33
34
35
36
0
-.8
1
9.0
o
o
-.6
1
9.5
-.6
0
183
18.3
17.8
17.8
Unilateral transfers (excluding military grants of goods and
services), net, BPA's.
Less' Statistical differences 3
Other items
Plus: Adjustment for U S territories and Puerto Rico 4
Equals: Transfer payments to foreigners, net, NIPA's
Payments of income on U S Government liabilities BPA's
Equals: Interest paid by government to foreigners, NIPA's
Balance on current account, BPA's (19—30)
Less: Gold (20)
.. . .
Capital gains net of losses in direct investment income,
BPA's (21).
Statistical differences (22—31)
Other items (23—32)
Plus: Capital grants received by the United States, net, NIPA's
(29).
Adjustment for U.S. territories and Puerto Rico (25-33)
Equals: Net foreign investment, NIPA's (26+29-34-36)
22
23
24
25
26
37
38
39
40
41
42
43
44
0
0
0
0
-.6
-.6
19.8
17.8
61
57
-53 -592
0
0
0
0
0
0
11.4
12.0
198
19.8
— 8.1 —46.0 — 107.4
9
7
12
-2.1
-7.0
-9.1
0
0
0
0
0
0
0
0
0
4.1
5.7
6.1
-1.0 -32.7 -91.0
1. The treatment of net exports of gold in the NIPA's differs from that in the BPA's. BPA
gold exports (line 2) and imports (line 11) are removed from the NIPA's. Imports of gold in the
NIPA's (line 15) is the excess of the value of gold in domestic final sales plus the change in
business inventories over the value of U.S. production of gold.
2. BPA capital gains and losses included in U.S. direct investment income abroad (line 3) and
in foreign direct investment income in the U.S. (line 12) are removed from the NIPA's.
3. Consists of statistical revisions in the BPA's that have not yet been incorporated in the
NIPA's.
4. Consists of transactions between the United States and its territories and Puerto Rico. The
treatment of U.S. territories and Puerto Rico in the NIPA's differs from that in the BPA's. In
the NIPA's they are included in the rest of the world; in the BPA's, they are treated as part of
the United States. The adjustments to exports and imports of goods and services are shown in
lines 6 and 16 respectively; however, because data are not available to adjust service exports and
imports separately, line 6 includes the net of exports and imports of services by U.S. territories
and Puerto Rico. The adjustment to unilateral transfers, net (line 33) consists only of transfer
payments from persons because transfer payments, subsidies, and grants-in-aid from the Federal
Government to residents of U.S. territories and Puerto Rico are excluded from NIP A transfer
payments to foreigners.
5. Represents interest paid by government to foreigners. This item is treated as an import of
services in the BPA's. In the NIPA's, it is excluded from government purchases and, thus, also
from imports.
NOTE.—U.S. Government contributions to international organizations (lines 14, 23, and 32) are
classified as imports in the BPA's and as transfer payments to foreigners in the NIPA's.
Beginning with the June 1986 BPA revision, the BPA's will reflect the classification of these
contributions as transfers.
March 1986
89
SURVEY OF CURRENT BUSINESS
5. Savings and Investment
Table 5.1.—Gross Saving and Investment
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1982
1985
I
1
Gross saving
Gross private saving
Personal saving
Undistributed corporate
profits with inventory
valuation and capital
consumption adjustments.
Undistributed profits
Inventory valuation
adjustment.
Capital consumption
adjustment.
Corporate capital
consumption allowances
with capital consumption
adjustment.
Noncorporate capital
consumption allowances
with capital consumption
adjustment.
Wage accruals less
disbursements.
Government surplus or deficit
( — ), national income and
product accounts.
Federal
State and local
Capital grants received by the
United States (net).
Gross investment
Gross private domestic
investment.
Net foreign investment
Statistical discrepancy
2
3
4
5
6
7
446.4
557.1
1539
20.0
II
443.1
5657
1560
23.3
387.4
III
IV
478.5
519.8
642.0
147.1
90.6
451.2
575.0
40.9
40.7
35.8
41.1
-7.7 -10.3 -10.0 -13.4
38.9
-3.4
56.4
70.3
-9.3 -18.1
554.9
695.0
1290
127.6
39.6
59.0
-10.4 -10.0
65.9
-5.4
57.4
-.6
41.0
70.9 -14.1 -11.1
561.1
1617
19.6
-7.3
-4.5
9.7
1164
62.5
15.5
605.5
129.0
73.2
21.0
I
II
IV
III
I
II
IV
III
590.5
684.3
181.6
93.6
581.3
678.6
162.6
99.6
592.8
573.5
578.3
571.7
537.3
532.1
708.8
181.5
104.9
700.3
164.5
108.2
677.7
130.9
116.3
723.6
167.2
122.6
681.8
102.6
137.8
696.9
115.2
133.7
73.1
70.6
-8.9 -13.0
69.2
-5.6
61.3
-1.3
60.0
-1.6
54.6
53.3
57.3
64.5
36.0
44.8
49.8
61.1
67.2
75.9
79.4
274.8
173.2
28.9
33.5
.7
2.2
4.7 -10.1
8
235.0
245.0
256.6
269.2
227.6
232.7
237.4
242.2
241.9
243.2
246.8
248.0
251.2
254.9
258.5
261.8
264.3
266.8
270.9
9
148.2
154.6
162.3
169.2
145.7
147.1
149.0
151.0
152.6 ,152.9
156.6
166.4
157.9
161.5
164.0
165.9
166.3
167.0
170.5
10
0
0
0
0
0
11
-110.8 -130.8 -108.5 -140.1 -76.0
12
13
14
— 1459 — 1794 -172.9
35.1
64.4
48.6
0
0
0
15
16
17
18
0
583.0
554.0
669.3
466.8
459.5
10 —32.7
-.1
-.6
910
-1.5
1153
— .9
7.3
-4.8
484.4
467.8
394.2
439.9
452.2
409.6
16.5 -12.3 -15.4
1.0 -3.2
6.8
[Billions of dollars]
Nonresidential
Less: Capital consumption allowances with capital
consumption adjustment.
Equals* N e t nonresidential
. . .
Structures
Less: Capital consumption allowances with capital
consumption adjustment.
Equals1 Net structures
Producers' durable equipment
Less: Capital consumption allowances with capital
consumption adjustment.
Equals* Net producers' durable equipment
Residential
Less: Capital consumption allowances with capital
consumption adjustment.
Equals' Net residential
.
Nonfarm structures
...
Less: Capital consumption allowances with capital
consumption adjustment.
Equals' Net nonfarm structures
Farm structures
Less: Capital consumption allowances with capital
consumption adjustment.
Equals* Net farm structures
Producers' durable equipment
.
Less: Capital consumption allowances with capital
consumption adjustment.
Equals' Net producers' durable equipment
Change in business inventories
.
0
0
1092 -112.9 -158.8 -202.6 -187.9 -170.6 — 179.7 -179.5 -1578
37.9
46.8
57.2
33.2
35.2
36.3
35.8
52.7
64.0
0
0
0
0
0
0
0
0
0
674.0
Fixed investment
.
Less: Capital consumption allowances with capital consumption
adjustment.
Equals' Net fixed investment
0
1993
59.2
0
501.9
Gross private domestic investment
. . .
Less: Capital consumption allowances with capital consumption
adjustment.
Equals* Net private domestic investment .. .
0
-77.7 -122.5 -166.8 -150.0 -123.8 -127.0 -122.2 -93.8
469.2
446.3
447.3
0
0
0
Table 5.2.—Gross Private Domestic Investment, Capital Consumption
Allowances with Capital Consumption Adjustment, and Net Private
Domestic Investment by Major Type of Investment
II
430.0
580.0
140.3
45.1
483.4
584.5
693,0
1725
101.6
18.8
IV
554.2
1431
17.9
471.6
547.6
1550
19.3
469.8
600.6
1332
67.9
-9.2
I
III
1985
1984
1983
Line
1982
1983
1984
1
2
447.3
383.2
501.9
399.6
674.0
418.9
3
4
5
641
471.8
383.2
1023
2551
508.3
399.6
607.0
418.9
6
7
8
887
366.7
301.2
1087
1880
356.3
314.2
427.9
328.6
9
10
11
655
143 3
42.1
993
126 1
147 6
97.4
100.8
105.2
12
13
14
45.9
223.4
203.8
25.3
42.5
230.2
213.4
280.2
223.5
15
16
17
19.6
16.8
56.8
105.1
81.9
152.0
85.4
179.1
90.3
18
23.2
66.6
88.8
. 19
20
99.8
76.3
146.7
79.6
172.3
84.3
21
22
23
235
67.1
88.0
2.0
1.5
2.6
2.5
2.5
2.6
24
25
26
-.5
-1.0
3.3
3.7
4.2
3.1
3.2
3.4
27
28
0
2
5
.8
245
6.4
67.1
428.5
425.0
455.5
483.7
474.2
521.2
518.6
577.6
3.6 -28.2 -47.0 -59.0
4.3 -4.3
-1.2
-1.4
0
0
0
-97.3 -116.0 -126.8
0
0
0
0
-99.4 -151.9 -144.5 -164.8
163 0 — 178.1 — 192.7 — 162.6 —209.1 -201.3 -224.2
59.4
65.7
63.2
62.1
65.8
57.3
56.9
0
593.3
658.8
579.4
673.3
-65.5
-93.9
2.8
-1.9
0
0
593.6
687.9
565.8
676.2
0
580.8
657.6
0
0
567.0
672.8
0
539.9
666.1
528.2
680.7
-94.3 -110.4 -76.8 -105.8 -126.2 -152.5
.8
2.5
-7,6
-4.7
2.5
-3.9
Table 5.3.—Gross Private Domestic Investment, Capital Consumption
Allowances With Capital Consumption Adjustment, and Net Private
Domestic Investment by Major Type of Investment in Constant
Dollars
[Billions of 1982 dollars]
Gross private domestic investment
Less: Capital consumption allowances with capital consumption
adjustment.
Equals.* Net private domestic investment
Fixed investment
Less: Capital consumption allowances with capital consumption
adjustment.
Equals: Net fixed investment
Nonresidential
Less: Capital consumption allowances with capital
consumption adjustment.
Equals: Net nonresidential
Structures
Less: Capital consumption allowances with capital
consumption adjustment.
Equals: Net structures
Producers' durable equipment
Less: Capital consumption allowances with capital
consumption adjustment.
Equals: Net producers' durable equipment ..
Residential
Less: Capital consumption allowances with capital
consumption adjustment.
Equals: Net residential
Nonfarm structures
Less: Capital consumption allowances with capital
consumption adjustment.
Equals: Net nonfarm structures
Farm structures
Less: Capital consumption allowances with capital
consumption adjustment.
Equals: Net farm structures
Producers' durable equipment
Less: Capital consumption allowances with capital
consumption adjustment.
Equals' Net producers' durable equipment
Change in business inventories
Line
1982
1983
1984
1
2
447 3
383.2
5034
394.0
661 3
405.9
3
4
5
64 1
471 8
383.2
109 4
2554
5089
394.0
5986
405.9
6
7
8
366.7
301.2
1149
3601
310.3
430.3
320.7
10
11
655
1433
97.4
498
1297
100.9
1096
1487
103.6
12
13
14
459
223 4
203.8
288
230 5
209.4
452
281 6
217.1
15
16
17
196
105.1
81.9
210
1487
83.7
644
168.3
85.2
18
19
20
23.2
99.8
76.3
651
143.6
78.0
83.1
161.8
79.5
21
22
23
23.5
2.0
2.5
65.6
82.4
25
2.5
24
25
26
-.5
3.3
3.1
-1.0
3.6
3.2
27
28
2
5
8
-24.5
-5.5
62.7
9
887
1.5
2.5
1927
0
4.0
oo
o.o
90
SURVEY OF CURRENT BUSINESS
March 1986
Table 5.4.—Purchases of Structures by Type
Table 5.5.—Purchases of Structures by Type in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Purchases of structures * ..
Private
... .
Nonresidential
New
Line
1982
1983
1984
1
300.6
330.1
383.7
2
245.1
274.3
322.5
3
4
143.3
126.1
147.6
1432
1258
1474
Purchases of structures 1
Private
Nonresidential
New
Line
1982
1983
1984
1
3006
330 0
371 5
2
245 1
2748
313 0
3
1433
1297
1487
4
1432
1295
1485
5
6
7
8
9
10
11
69.3
173
375
15
14
59
57
632
124
346
17
14
6.3
68
745
126
443
20
13
58
85
12
13
14
15
16
17
283
29
7.0
148
3.2
.4
257
29
6.1
141
2.1
.5
282
36
6.7
147
2.9
.3
5
6
7
8
9
10
11
693
17.3
37.5
1.5
1.4
59
5.7
656
12.9
360
1.8
1.4
66
7.1
811
13.8
48.3
2.1
1.4
63
9.2
Nonresidential buildings, excluding farm
Industrial
Commercial
Religious
Educational
Hospital and institutional
Other 2
12
13
14
15
16
17
28.3
2.9
7.0
14.8
3.2
.4
26.5
3.0
6.3
14.6
2.1
.5
29.5
3.7
7.1
15.5
3.0
.3
Public utilities.
..
Railroads
Telephone and telegraph
Electric light and power
Gas
Petroleum pipelines
Farm
Mining exploration shafts, and wells
Petroleum and natural gas
Other
Other 3
..
18
19
20
21
22
3.7
40.6
37.8
2.8
1.3
3.3
29.0
27.0
20
1.5
2.9
32.0
29.8
2.2
1.9
Farm
Mining exploration shafts, and wells .
Petroleum and natural gas
Other
Other3
18
19
20
21
22
3.7
40.6
37.8
2.8
1.3
3.1
35.9
34.0
1.9
1.5
2.6
41.4
39.4
2.0
1.9
Brokers' commissions on sale of structures
Net purchases of used structures..
23
24
.6
-.5
6
.4
.6
-.4
Brokers' commissions on sale of structures
Net purchases of used structures
...
23
24
.6
-.5
.6
-.4
— .4
25
101.8
148.3
174.9
25
101.8
145.1
164.3
26
93.7
136.5
162.4
26
937
1336
1525
.... .... 27
28
29
30
31
32
•
33
34
35
91.7
61.9
57.4
41.1
16.3
4.6
20.8
8.7
.2
135.0
101.4
95.3
71.8
23.5
6.1
23.4
10.0
.2
159.8
120.5
114.3
84.8
29.5
6.2
25.7
13.4
.3
27
28
29
30
31
32
33
34
35
917
619
57.4
41 1
16.3
46
20.8
87
2
132.1
994
93.4
704
23.0
60
22.8
97
2
150.1
1134
107.2
796
27.7
62
24.0
124
2
36
37
38
39
2.0
.6
1.1
.3
1.5
.7
.6
.2
2.6
.6
1.2
.8
36
37
38
39
20
.6
11
3
15
.7
6
2
40
41
8.9
_7
12.6
_9
13.8
-1.3
42
55.5
55.8
61.1
43
54.2
54.5
59.5
44
45
46
47
48
49
17.4
2.4
1.6
5.9
1.8
5,8
179
2.6
1.7
5.4
1.9
6.3
18.5
2.6
1.8
5.6
1.8
6.8
Buildings excluding military
Residential . ...
Industrial
Educational
Hospital ..
...
Other 5
Highways and streets
Military facilities
50
51
52
16.1
2.3
5.0
17.0
2.8
4.8
19.7
3.0
4.7
Highways and streets
•
Military facilities
Conservation and development
Sewer and water systems
Sewer systems
.
Water supply facilities
Other6
53
54
55
56
8.4
5.5
2.9
4.9
7.3
5.3
2.1
4.6
8.9
6.2
2.6
4.7
57
1.2
1.3
1.7
Nonresidential buildings excluding farm
Industrial
Commercial
Religious
Educational
.
Hospital and institutional
Other2
.
...
Public utilities
Railroads
Telephone and telegraph
Electric light and power
Gas
Petroleum pipelines
...
Residential
New
Nonfarm
..
...
Permanent site
..
1-unit structures
2-or-more-unit structures
Mobile homes
Additions and alterations
Major replacements ...
Other *
Farm
New housing units
Additions and alterations
Major replacements
•
Brokers' commissions on sale of structures
Net purchases of used structures
'.
Government structures and new construction force-account
compensation.
New
Buildings excluding military
Residential
Industrial
Educational
Hospital
.
Other5 i
Net purchases of used structures
.
••
.
1. In this table, purchases of structures includes compensation of government employees
engaged in new force-account construction. In tables 1.3, 3.1, and 3.7, this compensation is
classified as a service and is included as part of government compensation of employees.
2. Consists of hotels and motels, buildings used primarily for social and recreational activities,
and buildings not elsewhere classified, such as passenger terminals, greenhouses, and animal
hospitals.
3. Consists of streets, dams and reservoirs, sewer and water facilities, parks, airfields, etc.
4. Consists of dormitories, fraternity and sorority houses, nurses' homes, etc.
5. Consists of general office buildings, police and fire stations, courthouses, auditoriums,
garages, passenger terminals, etc.
6. Consists of electric and gas facilities, transit systems, airfields, etc.
. . .
Residential
New
Nonfarm
New housing units
Permanent site .
. . . . . .
1-unit structures
2-or-more-unit structures
Mobile homes
Additions and alterations
Major replacements
.
..
Other 4
Farm
New housing units
Additions and alterations
Major replacements
.
..
....
...
...
Brokers' commissions on sale of structures
Net purchases of used structures.
Government structures and new construction force-account
compensation.
New
..
••
Sewer and water systems
Water supply facilities
Other 6
Net purchases of used structures
.
.
..
.6
24
.6
11
7
40
41
89
-.7
124
-.9
130
-1.2
42
55.5
55.2
58.5
43
54.2
540
569
44
45
46
47
48
49
174
24
16
5.9
18
58
173
26
17
5.2
1.8
61
172
25
17
5.1
1.6
63
50
51
52
16.1
23
5.0
174
28
4.8
19.3
28
4.5
53
54
55
56
8.4
55
29
4.9
7.2
51
20
4.6
8.4
59
25
4.6
57
12
12
16
1. In this table, purchases of structures includes compensation of government employees
engaged in new force-account construction. In tables 1.4 and 3.8, this compensation is classified
as a service and is included as part of government compensation of employees.
2. Consists of hotels and motels, buildings used primarily for social and recreational activities,
and buildings not elsewhere classified, such as passenger terminals, greenhouses, and animal
hospitals.
3. Consists of streets, dams and reservoirs, sewer and water facilities, parks, airfields, etc.
4. Consists of dormitories, fraternity and sorority houses, nurses' homes, etc.
5. Consists of general office buildings, police and fire stations, courthouses, auditoriums,
garages, passenger terminals, etc.
6. Consists of electric and gas facilities, transit systems, airfields, etc.
91
SURVEY OF CURRENT BUSINESS
March 1986
Table 5.6.—Private Purchases of Producers' Durable Equipment by
Type
Table 5.7.—Private Purchases of Producers' Durable Equipment by
Type in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Private purchases of producers' durable equipment
1982
1983
1
226.7
234.1
285.6
2
3
4
5
6
7
223.4
230.5
281.6
666
20.8
275
9.5
8.8
754
29.5
26.9
9.9
9.1
932
41.0
29.8
11.2
11.3
Line
Line
1982
1983
1984
1
2267
233 9
2844
Private purchases of producers' durable equipment
Nonresidential equipment
1984
2
223.4
2302
280.2
Information processing and related equipment
Office, computing, and accounting machinery
Communication equipment
Instruments
Photocopy and related equipment
3
4
5
6
7
66.6
208
275
9.5
88
721
245
286
99
91
85.8
304
329
116
109
Information processing and related equipment
Office computing and accounting machinery
Communication equipment
Instruments
Photocopy and related equipment
Industrial equipment
Fabricated metal products
Engines and turbines
Metalworking machinery
Special industry machinery n P c
General industrial, including materials handling, equipment....
Electrical transmission, distribution, and industrial
apparatus.
8
9
10
11
12
13
14
593
96
1.5
13.6
105
14.1
10.1
554
85
1.5
112
107
13.0
10.5
672
95
1.7
14.5
136
15.5
12.5
Industrial equipment
Fabricated metal products
Engines and turbines
Metalworking machinery
Special industry machinery n e e
General industrial, including materials handling, equipment....
Electrical transmission, distribution, and industrial
apparatus.
8
9
10
11
12
13
14
59.3
96
1.5
13.6
105
14.1
10.1
54.3
8.4
1.5
11.2
10.4
12.7
10.1
64.8
9.3
1.6
14.2
12.9
15.1
11.7
. . . . 15
16
17
.
. . 18
19
20
425
163
12.3
8.5
36
1.8
495
191
17.8
94
20
1.1
652
309
20.6
98
23
1.6
Transportation and related equipment
Trucks buses and truck trailers '
Autos
Aircraft
15
16
17
18
19
20
425
16.3
12.3
8.5
36
1.8
492
18.4
18.4
9.2
2.0
1.1
643
28.6
22.6
9.4
2.2
1.5
Other equipment
Furniture and fixtures
Tractors
Agricultural machinery, except tractors
Construction machinery, except tractors
Mining and oilfield machinery
Service industry machinery
Electrical equipment, n e e
Other
21
22
23
24
25
26
27
28
29
57.1
103
52
7.9
6.4
6.7
61
5.5
90
54.9
113
53
6.6
6.8
4.0
65
61
83
63.9
14.0
64
6.5
9.0
4.6
77
7.0
87
Other equipment
•• 21
22
23
24
25
26
27
28
29
57.1
10.3
5.2
7.9
6.4
67
6.1
5.5
9.0
53.1
10.8
5.0
6.3
6.6
4.0
6.2
6.0
8.3
60.7
13.0
5.9
5.9
8.6
46
7.2
6.8
8.6
Less' Sale of equipment scrap excluding autos
30
20
1.5
1.5
31
3.3
3.6
4.0
Nonresidential equipment
Transportation a n d related equipment
Trucks buses and truck trailers
Autos
Aircraft...
Ships and boats
Railroad equipment
.
.
.
30
20
16
18
Residential equipment
31
3.3
37
4.2
Addenda: Private purchases of producers' durable equipment
Less* Dealers' margin on used equipment
Net purchases of used equipment from government
Plus" Net sales of used equipment
Net exports of used equipment
Sale of equipment scrap
Equals' Private purchases of new equipment
32
33
34
35
36
37
38
226.7
15
.5
137
.7
21
2413
233.9
14
5
149
7
17
2493
284.4
16
.6
21 1
.9
19
3060
Railroad equipment
.
Tractors
Agricultural machinery except tractors
Construction machinery except tractors
Service industry machinery
Electrical equipment n e e
Other
• ••
Less' Sale of equipment scrap excluding autos
n.e.c. Not elsewhere classified.
n.e.c. Not elsewhere classified.
Table 5.8.—Change in Business Inventories by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1985
1982
I
Change in business
inventories.
1
Farm
2
Nonfarm
Change in book value
Inventory valuation
adjustment 1.
3
4
5
Manufacturing
Durable goods
Nondurable goods
Wholesale trade
Durable goods
6
7
8
9
10
11
Merchant wholesalers
Durable goods
.. ..
12
13
1.4
Nonmerchant wholesalers ... 15
16
Durable goods
17
-24.5
-6.4
67.1
7.5 -24.1
43
71
9.1
231
.8
-11.9
12.0
-11.2
-11.3
58.0
64.3
-6.3
51
43
-.9
24.1
18.5
5.6
-3.3
24
9
-3.3
-3.0
— 4
3.8
.5
3.4
14
43
11.8 -19.9
12.6 -11.9
-.8 -7.9
15 1
11 7
-3.4
-3.4
-2.3
-1.1
-1.4
-1.5
.1
-1.6
-2.3
.7
14.3
9.3
5.1
11.7
8.1
3.6
-2.0
8
12
-1.8
-.7
-1.1
2.7
1.1
1.5
-1.4
-.3
11
5.3
.8
4.5
Retail trade
Durable goods
Nondurable goods
18
19
20
-2.6
-2.7
.1
8.6
4.6
4.0
12.5
5.3
7.2
8.3
6.7
1.6
Other
Durable goods
Nondurable goods
21
22
23
-1.9
-.1
18
.7
1.8
11
7.1
4.0
3.1
3.0
1.7
1.3
II
III
IV
I
II
III
-5.0
-9.0
-59.9
-42.7
-5.5
-2.8
4.0
3.3
88
124 -51.1
-9.0
-36.3
1.8 -1.1
-10.9 -11.3
-14.9
126 -22.1
-7.6 -18.1
71
19 4
9 3 -10.9
27
17
-.5 -8.8
7.1 -2.3
-9.0
-9.5
0
4.7 -2.0 -12.0
-9.0
-.3
2.4
2.4
-5.3
-7.3
10.3 -3.4
.1
-9.1
4.8 -1.7
53
1.8
5.5 -1.7
-3.7
1.1 -2.2
-3.2
-.1
-.2 -2.9
-.1
-3.7
1.4
-3.1
.6
-8.1
9.1 -11.7
.1
-7.1
134
9.2
.3
-.1
-1.0
1.7
-.2
4.9
5
5.3
1984
1983
1.8
.2
1.6
-6.6
21
-4.5
-7.8
2.0
-9.8
90
337
-30.6
-3.1
-24.3
184
59
73
IV
1985
I
II
III
25.5
92.1
68.9
68.3
6.1
IV
39.0
I
II
18.5
15.5
IV
III
.2
-2.9
-4.3
23 3
20.5
7.7
5.5
2.6
4.3
4.7
19.4
1.8
15.5
71.6
12.6
36.3
29.8
86.9
-10.8 -20.8 -10.4 -15.3
61.2
67.8
-6.6
62.8
64.0
-1.2
36.4
38.5
-2.1
14.2
13.8
.5
10.8
8.4
2.4
19.0
3.1
30.3
21
5.2 -11.3
4.3
9.8
-5.4
1.5
3.2
-1.7
116
33
-.8 -12.1
25
.5
11.3
7.7
3.5
1.4
2.2
-.8
0
0
0
8.4
1.2
7.2
.8
-3.3
4.1
4.8
1.7
3.0
184
27
17
10
-7.7
-7.4
4
1.0
-2.8
3.8
4.1
3.2
.9
5.5
5.8
3
26.0
16.6
9.4
34.4
22.7
11.7
5.4
5.2
.2
11.3
7.7
3.6
15.6
8.5
7.0
31.5
24.8
6.6
19.2
13.1
6.2
4.3
4.2
.1
7.6
5.3
2.4
18.2
11.7
6.5
7.9
6.1
1.8
5.0
1.9
3.1
7.8
1.0
6.9
3.6
-2.0
5.6
4.5
2.4
2.2
-.2
10
.8
8.9
7.7
1.3
2.4
0
2.4
11.7
7.1
4.7
-4.7
-1.2
36
-7.8
-6.9
10
.1
-.5
.6
3.8
1.5
2.4
1.1
1.4
-.4
3.4
1.6
1.8
-3.6
.3
40
.5
.2
.3
-2.8
-1.2
-1.6
.2
-.6
.8
2.3
.6
1.7
10.5
4.6
5.9
7.1
2.9
4.2
14.4
10.3
4.1
22.7
9.3
13.4
5.1
-1.1
6.2
4.6
-.3
4.9
17.4
13.2
4.2
9.7
9.0
.7
-.9
-.5
-.3
2.1
26
4.7
22.4
21.1
1.3
3.4
1.9
1.6
1.6
3.6
-1.9
3.4
9.5
-6.2
-5.8
-7.8
2.0
11.5
9.6
2.0
6.1
5.9
.2
7.5
1.8
5.6
3.4
14
4.8
1.7
2.5
-.9
3.3
1.3
2.1
3.4
.3
3.2
3.4
2.6
.8
-15.1
-13.0
21
-10.4
-11.8
1.4
-2.2
0
-2.2
1. The inventory valuation adjustment (IVA) shown in this table differs from the IVA that adjusts business incomes. The IVA in this table reflects the mix of methods (first-in, first-out; last-in,
first-out; etc.) underlying book value inventories derived primarily from Census Bureau statistics. This mix differs from that underlying business income derived primarily from Internal Revenue
Service statistics.
92
SURVEY OF CURRENT BUSINESS
March 1986
Table 5.9.—Change in Business Inventories by Industry in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1982
1985
I
Change in business
inventories.
Farm
. . .
Nonfarm
Manufacturing
Durable goods
1
2
3
4
5
6
7
Wholesale trade
Durable goods
8
9
Merchant wholesalers
10
Durable goods
11
12
Nondurable goods
Nonmerchant wholesalers ... 13
14
15
Nondurable goods
16
Retail trade
17
Durable goods
18
Nondurable goods
Other
19
20
Durable goods
21
g
-24.5
14
23 l
15 1
-11.7
34
34
-2.3
-1.1
-1.4
-1.5
.1
-2.0
g
-1.2
-2.6
-2.7
.1
-1.9
1
18
-5.5
62.7
58
.4
53
-4.3
9
6.8
55.9
23.4
17.9
5.5
13.7
8.8
4.9
11.0
7.7
3.3
2.8
1.1
1.6
11.9
5.0
6.9
6.8
3.8
3.0
34
-3.0
-.5
15
-2.3
.8
-1.9
7
-1.3
8.3
4.4
3.9
.7
1.8
-1.0
5.7 -24.0
-4.8
10.6
34
-2.4
9
-4.1
199
77
-7.1
5
3.5
.4
3.0
5.2
.7
4.4
-1.7
3
-1.4
7.7
6.2
1.5
2.7
1.6
1.2
88
0
-8.8
52
0
-5.2
-3.6
1
-3.5
-8.1
71
-1.0
4.7
5
5.2
1983
II
III
IV
I
II
-5.4
-9.4
-59.3
-42.2
-3.7
3.2
89
4.0
85
127
504
33 8
95
243
126 -22.0
18 1
-9.3 -11.0 -19.3 -18.3
88
16
27
60
24
154
6.7
93
4.7 -2.0 -11.9 -12.7
4 - 2.6
27
2.1
10.3
35
73
10 0
-9.0 -11.5
4.8 -1.8
5.5 -1.7
1.8
1.5
1.1 -2.0
-5.3
-3.5
1
-.2 -2.8
-1.2
-3.4
1.3
.8 -4.1
.1
9.0
2.3
11 5
.2
9.2 -13.2
.7
-.1
-.2
1.7
1.7
6.7
7.6
3.5
1.8
2.0
1.9
.2 -2.1
95
1.6
1.6 -4.6
1985
1984
III
I
II
III
IV
36.1
15.8
15.1
-1.8
-6.3
1.5
34.6
4.1
9.5
-5.4
10.9
7.3
3.6
7.1
5.7
1.4
3.8
1.6
2.2
16.4
12.4
4.0
3.2
-1.3
4.6
4.0
11.8
1.2
3.0
-1.8
.2
2.1
-1.9
4.7
1.8
3.0
-4.5
.3
-4.8
9.0
8.4
.6
1.3
2.3
-1.0
4.5
10.7
-.2
-.3
.1
8.6
1.1
7.4
8.0
.9
7.0
.6
.2
.4
-.8
-.5
-.4
3.1
1.2
1.9
-3.4 -24.5
1.6
18.2
-4.0 -10.5
-.9 -11.6
-3.1
1.1
.1
5.0
32
1.7
3.3
3.3
3.3
4.5
20
2.2
5.3
2.3
.4
-3.2
-1.2
-.5
-2.0
1.0
2.2
20.5
-2.3
19.2
1.3
4.5
3.3
3.2
.3
2.4
3.0
.7
III
IV
I
II
IV
I
II
1.4
22.6
83.6
66.0
64.9
-5.3 -13.2
1.7
14.6
28
.8
-1.7
-2.9
11
3.7
3.7
16
-7.2
3.0
4
.7
-7.8
3.9
-6.7
4.0
-.2
-1.0
-.1
.2
-.5
10
.7
.9
10.3
6.9
4.5
2.7
5.8
4.1
1.7
3.2
3.5
9.2
-1.8
-6.0
3.7
18.9
5.2
5.6
-.3
5.5
5.1
.4
8.0
5.2
2.8
-2.5
0
-2.4
13.8
9.8
4.0
-5.6
-7.5
1.9
14.8
68.8
25.4
16.2
9.3
10.6
7.3
3.3
8.1
7.3
.8
2.5
0
2.5
21.8
8.8
13.0
10.9
9.1
1.8
6.3
59.7
33.6
22.0
11.5
15.3
8.2
7.1
11.4
6.8
4.6
3.9
1.4
2.5
5.0
-.9
5.9
5.8
5.6
.2
4.5
60.4
30.5
23.9
6.6
18.2
12.5
5.7
17.5
11.1
6.4
.8
1.4
-.6
4.5
-.3
4.7
7.1
1.7
5.4
III
IV
Table 5.10.—Inventories and Final Sales of Business by Industry
[Billions of dollars]
Seasonally adjusted quarterly totals
1982
Line
I
Inventories 1 .. .
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 structures2
Ratio of inventories to final sales
Inventories to final sales
Nonfarm inventories to final sales
Nonfarm inventories to final sales of goods and structured
II
III
IV
I
II
1985
1984
1983
III
IV
I
II
III
IV
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
784.0
82.9
701.1
402.1
299.1
327.6
212.9
114.7
161.8
103.9
57.9
133.7
89.7
43.9
28.1
14.2
13.9
132.3
61.1
71.2
79.5
220.3
136.5
786.6
84.2
702.4
402.5
299.9
323.4
210.8
112.6
164.7
105.6
59.1
137.1
91.4
45.7
27.6
14.2
13.4
133.6
61.7
71.9
80.7
221.5
136.2
784.7
82.1
702.6
403.5
299.1
321.0
209.0
112.0
164.2
106.0
58.2
136.4
91.8
44.6
27.8
14.2
13.6
136.8
64.6
72.2
80.7
223.0
135.6
771.5
79.2
692.2
395.0
297.2
316.1
204.9
111.3
162.2
103.7
58.6
135.2
90.1
45.2
27.0
13.6
13.4
134.7
61.9
72.8
79.2
229.5
139.5
764.5
79.3
685.2
390.4
294.9
310.1
201.1
109.0
159.1
101.4
57.7
133.7
87.9
45.8
25.4
13.5
12.0
135.9
62.5
73.4
80.1
232.0
139.9
769.9
79.2
690.7
393.2
297.5
311.4
202.0
109.4
158.8
100.4
58.4
133.0
86.9
46.1
25.8
13.5
12.4
139.5
64.2
75.3
80.9
236.4
142.3
778.5
76.3
702.2
399.5
302.7
315.2
203.0
112.3
162.3
101.8
60.5
136.3
88.5
47.8
25.9
13.3
12.6
142.6
65.5
77.1
82.1
241.3
145.6
789.1
79.9
709.2
404.2
305.0
317.3
204.8
112.5
164.0
103.5
60.5
138.7
90.2
48.5
25.3
13.3
12.0
147.0
68.3
78.7
80.9
246.6
148.8
820.1
86.2
733.9
418.8
315.1
327.2
211.1
116.2
168.4
106.2
62.2
142.1
92.8
49.3
26.3
13.4
12.9
154.2
71.4
82.8
84.0
251.7
152.2
836.5
87.1
749.4
428.3
321.0
336.2
217.0
119.1
171.9
108.7
63.2
144.9
94.9
50.0
26.9
13.8
13.2
155.4
71.0
84.3
85.9
260.3
158.3
850.7
85.5
765.3
438.5
326.8
344.2
223.2
121.0
176.2
112.1
64.1
149.0
98.0
51.1
27.2
14.1
13.1
156.8
70.9
85.9
88.1
264.0
160.0
858.5
83.6
774.8
446.9
327.9
345.7
226.1
119.6
178.5
114.1
64.4
150.6
99.5
51.1
27.9
14.6
13.3
161.7
74.5
87.2
88.9
269.3
163.2
859.9
82.9
777.0
451.2
325.8
344.6
226.6
117.9
179.0
114.8
64.2
151.8
100.2
51.7
27.2
14.6
12.6
165.0
77.3
87.7
88.5
275.8
167.6
858.5
79.9
778.6
452.1
326.5
343.6
226.4
117.2
180.4
115.3
65.1
153.4
100.6
52.8
27.0
14.7
12.3
164.8
77.2
87.7
89.7
279.2
169.7
856.1
77.8
778.4
450.8
327.6
342.7
226.9
115.7
180.0
114.5
65.5
153.7
100.0
53.6
26.3
14.5
11.9
165.2
76.1
89.1
90.5
284.5
173.1
857.8
73.5
784.3
454.6
329.6
340.6
223.9
116.7
179.9
115.1
64.8
155.7
100.7
55.0
24.2
14.4
9.8
172.2
81.7
90.4
91.6
287.4
173.1
24
25
26
3.56
3.18
5.14
3.55
3.17
5.16
3.52
3.15
5.18
3.36
3.02
4.96
3.30
2.95
4.90
3.26
2.92
4.85
3.23
2.91
4.82
3.20
2.88
4.77
3.26
2.92
4.82
3.21
2.88
4.73
3.22
2.90
4.78
3.19
2.88
4.75
3.12
2.82
4.64
3.08
2.79
4.59
3.01
2.74
4.50
2.99
2.73
4.53
1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories calculated from current-dollar inventories in this table is not the current- dollar change in business
inventories (CBI) component of GNP. The former is the difference between two inventory stocks, each valued at their respective end-of-quarter prices. The latter is the change in the physical volume
of inventories valued at average prices of the quarter. In addition, changes calculated from this table are at quarterly rates, whereas CBI is stated at annual rates.
2. Quarterly totals at monthly rates. Business final sales equals 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.
93
SURVEY OF CURRENT BUSINESS
March 1986
Table 5.11.—Inventories and Final Sales of Business by Industry in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted quarterly totals
1982
Line
I
1
II
III
IV
I
II
1985
1984
1983
III
rv
I
II
III
IV
I
II
III
IV
831.3
1
787.0
785.6
783.3
768.4
757.9
756.9
757.3
763.0
783.9
800.4
816.6
825.6
829.6
833.4
832.9
Farm
2
81.6
82.6
83.4
81.2
79.1
77.7
74.4
75.4
79.1
80.7
81.8
82.2
83.2
84.3
83.4
77.3
Nonfarm
Durable goods
Nondurable goods
3
4
5
705.4
404.1
301.3
703.0
403.1
299.9
699.8
401.6
298.2
687.2
391.0
296.2
678.8
383.9
294.9
679.2
383.7
295.5
682.9
386.7
296.2
687.6
389.9
297.7
704.8
400.3
304.5
719.7
409.0
310.7
734.8
418.5
316.3
743.4
425.5
318.0
746.4
429.4
317.0
749.1
429.8
319.3
749.5
428.3
321.2
754.0
431.2
322.8
Manufacturing
Durable goods
Nondurable goods
6
7
8
328.4
213.5
114.9
323.9
211.2
112.7
320.7
208.4
112.3
315.2
203.6
111.6
309.1
199.0
110.1
308.5
198.6
109.9
308.7
197.9
110.8
310.0
199.3
110.7
316.3
203.3
113.0
324.7
208.8
115.9
332.3
214.8
117.5
333.4
217.2
116.2
333.7
217.9
115.8
333.6
217.9
115.8
332.6
217.6
115.0
330.0
214.7
115.3
Wholesale trade
Durable goods
Nondurable goods
9
10
11
162.8
104.6
58.2
164.5
105.8
58.7
163.9
105.3
58.6
161.5
102.3
59.2
157.7
99.1
58.6
155.8
97.3
58.5
156.7
98.1
58.7
158.1
99.4
58.8
160.7
101.2
59.6
164.6
103.2
61.3
169.1
106.4
62.8
171.9
108.2
63.7
171.9
108.7
63.2
174.1
109.0
65.1
174.1
108.2
65.9
175.3
108.6
66.7
Merchant wholesalers
Durable goods
Nondurable goods
12
13
14
134.4
90.3
44.0
136.9
91.5
45.4
136.1
91.1
45.0
134.3
88.8
45.4
131.8
86.0
45.8
129.8
84.3
45.5
130.8
85.3
45.5
132.8
86.6
46.2
134.8
88.4
46.4
137.6
90.1
47.5
142.0
92.9
49.1
143.8
94.3
49.5
144.9
94.7
50.2
146.9
95.0
52.0
147.8
94.5
53.3
148.9
95.0
53.9
Nonmerchant wholesalers
Durable goods
Nondurable goods
15
16
17
28.4
14.3
14.1
27.5
14.2
13.3
27.8
14.2
13.6
27.3
13.5
13.8
26.0
13.2
12.8
26.0
13.1
12.9
26.0
12.8
13.2
25.3
12.8
12.6
26.0
12.8
13.2
27.0
13.1
13.8
27.1
13.5
13.6
28.1
13.9
14.2
27.0
14.0
13.0
27.1
14.0
13.1
26.3
13.7
12.6
26.4
13.6
12.8
18
19
20
133.5
61.7
71.8
133.5
61.8
71.7
135.8
64.1
71.7
132.9
60.8
72.1
133.5
60.9
72.5
136.0
62.0
74.0
137.8
62.7
75.0
141.2
65.2
76.0
146.7
67.4
79.3
147.9
67.2
80.8
149.0
67.1
81.9
153.1
70.2
82.9
155.4
72.3
83.1
155,2
72.2
83.0
155.7
71.6
84.1
160.9
76.4
84.5
Inventories
Retail trade
Durable goods
Nondurable goods
Other
Final sales 2
Final sales of goods and structures
2
21
80.7
81.2
79.5
77.6
78.5
78.9
79.7
78.3
81.1
82.5
84.3
85.1
85.4
86.2
87.0
87.8
22
23
224.0
137.9
222.9
136.6
221.3
134.6
226.1
138.6
227.2
138.6
229.8
140.3
232.6
142.6
235.4
144.7
237.9
146.9
243.3
151.4
244.5
152.2
247.4
154.1
252.0
158.0
253.0
159.0
256.5
161.9
257.2
161.1
24
25
26
3.51
3.15
5.12
3.53
3.15
5.15
3.54
3.16
5.20
3.40
3.04
4.96
3.34
2.99
4.90
3.29
2.96
4.84
3.26
2.94
4.79
3.24
2.92
4.75
3.29
2.96
4.80
3.29
2.96
4.75
3.34
3.00
4.83
3.34
3.01
4.82
3.29
2.96
4.72
3.29
2.96
4.71
3.25
2.92
4.63
3.23
2.93
4.68
Ratio of inventories to final sales
Inventories to final sales
Nonfarm inventories to final sales
Nonfarm inventories to final sales of goods and structures
1. Inventories are as of the end of the quarter. Quarter-to-quarter changes calculated from 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 equals 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.
151-498 O - 86 - 5 : QL3
94
SURVEY OF CURRENT BUSINESS
March 1986
6, Product, Income, and Employment by Industry
Table 6.1.-—Gross National Product by Industry
Table 6.2.—Gross National Product by Industry in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Line
Gross national product
Domestic industries (gross domestic product)
Private industries
Agriculture, forestry, and fisheries . . .
Farms
Agricultural services, forestry, and fisheries
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
1982
1983
Line
1984
1
3 166 0 3 401 6 3 774 7
2
3 114 8 3 350 9 3 7267
3
4
2 731 0 2 940 8 32848
896
758
952
5
6
77 0
126
608
151
80 2
150
7
1321
115.5
1212
g
9
10
11
23
151
1102
45
27
133
949
45
33
150
979
49
Gross national product
Domestic industries (gross domestic product)
Private industries .
Agriculture, forestry, and fisheries
Farms . ..
Agricultural services, forestry, and fisheries
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals except fuels
1982
1983
1984
1
3,166.0 3 277.7 3,492.0
2
3
3,114.8 3,228.9 3,447.5
2731 0 2 833.8 3,055.0
4
5
6
7
89.6
75.8
85.0
770
12.6
626
13.1
712
13.8
132.1
125.4
133.0
8
9
10
11
2.3
15.1
1102
45
2.2
14.3
104.1
4.9
2.5
16.1
108.9
5.4
Construction
12
140.9
150.0
167.7
Construction
12
140.9
147.8
156.7
Manufacturing .
13
6346
6925
7798
Manufacturing
13
634.6
680.9
760.7
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
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
14
15
16
17
18
19
20
21
22
23
24
25
3625
160
9.5
182
353
46.3
800
618
29.5
322
226
11.1
3907
203
11.1
208
356
48.3
76.2
658
43.4
35.3
232
10.7
4541
23 1
13.4
238
408
55.5
890
756
53.3
42.0
255
12.0
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
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries .
14
15
16
17
18
19
20
21
22
23
24
25
362.5
16.0
9.5
18.2
35.3
46.3
800
61 8
29.5
32.2
22.6
11.1
394.5
17.8
10.9
20.2
35.6
49.6
87.7
63.8
42.2
33.3
22.5
11.0
462.0
21.1
12.8
22.3
40.0
55.7
111.0
72.1
50.8
39.5
24.2
12.4
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 miscellaneous plastic products
Leather and leather products
26
27
28
29
30
31
32
33
34
35
36
2721
61.4
89
14.8
18.9
267
38.4
553
24.4
193
41
3018
63.8
118
17.2
21.2
297
43.9
600
28.4
217
42
3257
66.5
122
18.0
22.1
344
49.6
644
30.4
245
37
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 miscellaneous plastic products
Leather and leather products
26
27
28
29
30
31
32
33
34
35
36
272.1
61.4
8.9
14.8
18.9
26.7
38.4
55.3
24.4
193
41
286.3
60.7
7.8
16.6
20.7
29.7
41.4
60.0
24.0
214
41
298.6
61.0
7.2
16.9
21.6
32.1
42.9
63.6
25.2
24.4
38
Transportation and public utilities
37
2884
312.8
3453
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines except natural gas
Transportation services
38
39
40
41
42
43
44
45
1108
190
60
466
74
190
49
78
1179
190
59
485
80
229
55
82
1310
230
64
532
84
256
54
91
Communication
Telephone and telegraph
Radio and television broadcasting
46
47
48
856
773
8.3
925
832
9.3
101 1
905
107
Electric gas and sanitary services
49
920
1024
1132
Wholesale trade
50
219.0
228.9
264.3
Retail trade
51
287.5
319.5
355.9
Finance, insurance, and real estate
52
475.1
531.2
579.9
53
54
55
56
57
58
59
598
54
13.1
29.8
17.0
342.7
72
620
98
22.2
35.9
18.0
372.5
108
652
105
20.9
36.4
20.2
413.8
12.9
60
4636
5147
5755
61
62
63
64
65
66
67
68
69
70
71
72
73
21.7
21.3
90.7
23.5
9.6
6.3
15.1
142.0
306
19.1
30.5
45.7
7.6
24.5
233
103.9
258
10.8
71
17.0
156.0
349
20.5
32.9
50.1
7.8
28.2
25.6
122.8
29.4
12.7
7.7
18.9
168.4
399
21.9
35.9
55.5
8.7
74
383.9
410.7
443.4
75
76
77
78
79
80
147.9
1246
233
2628
241.8
210
159.8
132.1
277
2836
259.6
240
81
139.2
117.0
222
244.7
226.9
179
1
-6
— 15
82
51.2
50.7
48.0
Banking
. .
Credit agencies other than banks
Security and commodity brokers, and services
Insurance carriers
Insurance agents and brokers, and services
Real estate
Holding a n d other investment companies
. . . .
Services
Hotels and other lodging places
Personal services
Business services
Auto repair services and garages
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Health services
•
Educational services
Social services and membership organizations
Miscellaneous professional services
Private households
..
Government and government enterprises
Federal
P
t
State and local
Government
.f-
tistical discre anc
Rest of the world
••
.
....
37
288.4
294.2
312.8
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines except natural gas
Transportation services
38
39
40
41
42
43
44
45
1108
19.0
6.0
466
74
190
49
7.8
1116
18.0
5.6
477
75
196
49
8.4
1205
20.8
5.6
51 1
76
212
50
9.2
Communication
Telephone and telegraph
Radio and television broadcasting
46
47
48
856
773
83
887
798
89
935
840
95
Electric, gas, and sanitary services
Transportation and public utilities
49
92.0
93.9
98.8
Wholesale trade
50
219.0
2264
254.1
Retail trade
51
287.5
309.6
330.6
Finance insurance and real estate
52
475 1
488 6
512 6
53
54
55
56
57
58
59
59.8
5.4
13.1
29.8
17.0
3427
72
60.1
6.1
15.5
30.3
17.4
3514
77
60.6
6.7
16.2
30.9
17.7
3722
84
60
463.6
485.1
509.5
61
62
63
64
65
66
67
68
69
70
71
72
73
21.7
21.3
90.7
235
9.6
6.3
15.1
142.0
30.6
19.1
30.5
45.7
76
22.5
22.0
993
249
9.7
6.7
16.4
146.1
31.2
19.4
31.2
47.8
78
22.8
22.9
113.1
275
10.2
6.7
17.4
145.6
32.3
19.7
31.9
50.8
8.6
Banking
Credit agencies other than banks
Security and commodity brokers, and services
Insurance carriers
Insurance agents and brokers, and services
Real estate
Holding and other investment companies
Services
Hotels and other lodging places
Personal services
Business services
Auto repair services and garages
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Health services
Legal services
Educational services
Social services and membership organizations
Miscellaneous professional services
Private households
74
383.9
386.1
390.7
75
76
77
78
79
80
139.2
117.0
22.2
244.7
226.9
17.9
141.6
118.7
22.9
244.5
226.3
18.2
143.8
120.3
23.6
246.9
228.2
18.7
Statistical discrepancy
81
-.1
-.6
1.4
Residual 1
82
0
9.6
3.2
83
51.2
48.8
44.5
Government and government enterprises
Federal
Government
Government enterprises
State and local
Government
Government enterprises
Rest of the world
1. Equals GNP in constant dollars measured as the sum of incomes less GNP in constant
dollars measured as the sum of gross product by industry.
95
SURVEY OF CURRENT BUSINESS
March 1986
Table 6.3B.—National Income Without Capital Consumption Adjustment by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
I
II
1984
1983
1982
1985
III
IV
I
II
III
IV
I
II
1985
III
rv
I
II
III
IV
1
2,574.9 2,739.4 3,032.2 3,166.1 2,544.4 2,572.5 2,583.2 2,599.4 2,638.1 2,703.4 2,765.3 2,851.0 2,968.7 3,020.2 3,053.6 3,086.6 3,121.6 3,148.6 3,174.9 3,219.1
Domestic industries
2
Private industries
3
2,523.7 2,688.8 2,984.3 3,125.2 2,494.1 2,518.9 2,531.2 2,550.7 2,588.7 2,654.4 2,712.4 2,799.5 2,917.2 2,975.1 3,005.1 3,039.6 3,078.8 3,108.5 3,135.3 3,178.4
2,140.2 2,279.8 2,546.5 2,655.4 2,120.7 2,138.5 2,145.2 2,156.5 2,187.3 2,248.1 2,300.6 2,383.1 2,489.6 2,541.1 2,564.1 2,591.3 2,619.4 2,642.7 2,662.8 2,696.6
68.4
77.6
78.4
77.1
75.6
72.2
61.1
63.7
81.3
70.3
69.8
71.3
71.4
61.3
56.0
69.1
93.8
75.8
72.5
National income without
capital consumption
adjustment.
Agriculture, forestry, and
fisheries.
Mining
Construction
4
5
6
47.9
127.9
40.5
135.1
44.0
151.2
43.3
162.3
52.9
125.2
50.1
128.8
45.9
127.4
42.8
130.2
40.9
131.2
39.2
132.6
40.5
138.0
41.3
138.8
42.6
147.0
45.4
151.1
45.1
153.5
42.9
153.4
43.4
159.0
43.7
161.3
43.4
163.0
Manufacturing
Durable goods
Nondurable goods
7
8
9
560.0
313.2
246.8
592.5
335.3
257.2
667.0
393.4
273.5
679.4
405.4
274.0
568.6
321.6
246.9
565.2
321.0
244.2
564.8
315.0
249.8
541.5
295.2
246.3
551.5
310.7
240.8
577.0
324.7
252.3
607.0
342.1
264.9
634.3
363.6
270.7
657.6
383.8
273.8
669.8
390.5
279.4
666.1
394.7
271.4
674.3
404.7
269.6
674.6
403.6
270.9
671.8
403.4
268.4
680.0
403.0
277.0
Transportation and public
utilities.
Transportation
Communication
Electric, gas, and
sanitary services.
10
208.4
216.7
238.2
246.6
.210.0
211.1
205.8
206.6
212.1
216.8
215.9
222.0
231.4
238.3
241.4
241.9
245.5
246.0
248.5
11
12
13
88.9
59.9
59.6
91.7
59.9
65.1
103.2
62.6
72.5
107.1
64.1
75.4
89.4
59.7
60.9
90.5
59.8
60.8
87.7
60.0
58.2
87.9
60.1
58.6
90.0
61.1
60.9
90.5
62.4
63.8
93.2
56.4
66.3
93.0
59.9
69.1
99.7
61.5
70.3
103.4
63.4
71.5
105.4
63.0
73.0
104.3
62.3
75.3
104.8
65.1
75.6
106.0
65.5
74.4
108.2
63.8
76.5
14
15
16
160.3
220.9
323.5
165.4
243.4
360.9
191.7
269.1
391.2
202.2
283.3
406.4
163.2
215.9
311.5
161.8
218.3
319.2
159.3
222.0
323.3
157.0
227.2
339.9
155.4
234.7
347.7
164.9
240.6
359.8
167.5
245.5
364.8
173.9
252.7
371.2
182.8
260.6
378.6
188.9
271.3
390.7
195.8
270.0
396.9
199.1
274.3
398.5
199.8
277.5
402.2
201.9
284.0
406.8
204.5
288.6
406.3
17
418.8
461.6
512.9
561.5
403.6
412.7
425.3
433.6
445.5
455.9
465.3
479.9
495.2
507.1
518.2
531.2
541.7
555.0
567.4
18
383.5
409.0
437.7
469.9
373.4
380.4
386.1
394.2
401.4
406.3
411.8
416.4
427.6
434.0
441.0
448.4
459.4
465.8
472.5
481.8
19
51.2
50.7
48.0
40.8
50.3
53.6
52.0
48.7
49.4
49.0
52.8
51.5
51.5
45.0
48.5
46.9
42.8
40.2
39.6
40.7
Wholesale trade
Retail trade
Finance, insurance, and
real estate.
Services
Government and
government enterprises.
Rest of the world
96
SURVEY OF CURRENT BUSINESS
March 1986
Table 6.4B.—Compensation of Employees by Industry
Table 6.5B.—Wages and Salaries by Industry
[Millions of dollars]
[Millions of dollars]
Line
Compensation of employees
Domestic industries.
Private industries
...
Agriculture, forestry, and fisheries
Farms .
Agricultural services, forestry, and fisheries
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals except fuels
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
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
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 miscellaneous plastic products
Leather and leather products
Transportation and public utilities
Transportation
Railroad transportation
Local and interurban passenger transit.
Trucking and warehousing
Water transportation . .
Transportation by air
Pipelines, except natural gas
Transportation services
Communication
Telephone and telegraph
Radio and television broadcasting
Electric gas and sanitary services
Wholesale trade
Retail trade
Finance, insurance, and real estate
Banking
Credit agencies other than banks
Security and commodity brokers and services
1
2
3
4
5
6
Insurance agents and brokers, and services
Real estate
Holding and other investment companies
Services
Motels and other lodging places
Personal services
Auto repair services, and garages
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Health services
Legal services
Educational services
Social services and membership organizations
Social services
Membership organizations
Miscellaneous professional services
Private households
Government and government enterprises
Federal
Civilian
Military •"
State and local
Other
Rest of the world
Addenda:
Households and institutions «
1. Includes Coast Guard.
•
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
35
36
37
38
39
40
41
42
43
44
45'
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
1982
1983
1984
,907,008
,907,106
,523,581
16,993
10,195
6,798
37,454
2,628
8,883
23,123
2,820
97,703
473,056
297,782
11,498
7,479
14,458
30,198
35,834
62,430
50,611
25,059
34,102
18,670
7,443
175,274
37,412
2,170
11,965
14,952
18,250
27,612
34,591
9,709
15,425
3,188
149,692
76,055
15,468
4,258
29,776
5,783
15,377
783
4,610
45,269
39,984
5,285
28,368
128,304
175,649
118,707
33,946
11,077
11,934
29,215
10,633
17,382
4,520
326,023
14,127
10,965
57,623
9,906
5,646
4,150
10,251
111,951
16,181
18,005
29,855
18,741
11,114
29,767
7,596
383,525
140,128
117,022
59,339
57,683
23,106
243,397
226,877
122,302
104,575
16,520
-98
,025,851
,025,914
,616,939
17,184
9,860
7,324
33,251
2,152
7,532
20,678
2,889
100,919
492,861
307,372
13,474
8,307
15,244
28,329
36,249
59,776
55,190
29,064
34,559
19,477
7,703
185,489
38,600
2,287
13,148
15,938
19,552
29,911
35,767
10,128
16,970
3,188
156,176
78,488
15,207
4,336
30,829
5,628
16,681
813
4,994
46,903
41,124
5,779
30,785
133,478
190,242
133,712
36,725
13,121
16,229
31,523
11,525
19,497
5,092
359,116
15,615
11,960
65,734
10,762
5,789
4,608
11,172
123,209
18,741
19,398
32,077
19,846
12,231
32,232
7,819
408,975
149,378
124,591
63,238
61,353
24,787
259,597
241,820
130,144
111,676
17,777
63
,221,341
,221,339
,783,598
18,366
10,114
8,252
35,422
2,133
8,308
21,817
3,164
114,452
544,701
346,580
14,980
9,494
16,743
30,642
40,617
68,516
63,014
35,361
38,124
20,857
8,232
198,121
40,087
2,294
13,694
17,163
21,319
33,269
37,724
9,956
19,556
3,059
166,314
85,401
16,217
4,605
34,279
5,908
17,854
772
5,766
47,796
41,435
6,361
33,117
148,971
209,851
147,262
39,072
15,332
17,463
33,942
12,718
22,788
5,947
398,259
17,720
13,071
78,045
12,425
6,763
5,080
11,981
131,150
21,394
20,577
35,195
21,758
13,437
36,155
8,703
437,741
158,919
132,088
67,357
64,731
26,831
278,822
259,595
138,957
120,638
19,227
2
112,743 122,409 131,914
1,440,269 1,527,234 1,687,628
Line
Wages and salaries
Domestic industries
Private industries
Agriculture, forestry and fisheries
Farms
Agricultural services forestry and fisheries
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals except fuels
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
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
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 miscellaneous plastic products
Leather and leather products
Transportation &nd public utilities
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
.
Transportation by air
Pipelines except natural gas
Transportation services /
Communication
. /
Telephone and telegraph
Radio and television broadcasting
Electric gas and sanitary services
Wholesale trade
Retail trade
Finance, insurance, and real estate
Banking
Credit agencies other than banks
Security and commodity brokers and services
Insurance carriers
Insurance agents and brokers and services
Real estate
Holding and other investment companies
Services
Hotels and other lodging places
Business services
Miscellaneous repair services
Motion pictures
. . .
Amusement and recreation services
Health services
Educational services
Social services and membership organizations ..
Social services
Membership organizations
Miscellaneous professional services
Private households
Government and government enterprises
Federal
Government
Military1
State and local
Education
Other
Government enterprises
Rest of the world
1. Includes Coast Guard.
1
2
3
4
5
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
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
1982
,586,126
586 224
,280,331
14 836
8746
6090
31,217
2,093
6,870
19903
2351
81,588
384,038
241 213
9,461
6,232
11,704
23,315
28998
51,383
42,081
18,973
27,240
15571
6,255
142,825
30,380
1,560
10,103
12,723
14,994
23,456
28,040
6383
12,520
2,666
119,874
62,747
12,322
3,730
24777
5,005
12368
691
3854
34,791
30,236
4555
22,336
111,180
153,131
99,173
26908
9,452
10704
24,176
9,151
15,167
3,615
285,294
12,341
9,895
50,507
8763
4,887
3,604
8,925
95,361
14,224
15,534
27,246
10,101
17,145
26,548
7,459
305,893
108,416
89,107
49,246
39,861
19,309
197,477
183,837
97,856
85,981
13,640
-98
1983
1984
,675,364 ,835,155
675 427 835 153
,351,658 ,488,860
14938 15 961
8,406
8614
6532
7347
27,545 29,279
1,692
1,662
5,780
6,421
17,683 18578
2390
2618
83,133 93,745
397,374 438,920
247 202 278 464
10,981 12,182
6,888
7,845
12,230 13,429
21,553 23,273
29107 32513
48,836 55,904
45,694 52,127
21,923 26,798
27,404 30,244
16,146 17,280
6,440
6,869
150,172 160,456
31,077 32,179
1,642
1,647
11,072 11,500
13,466 14,449
15,994 17,459
25,285 28,117
28,774 30,394
6,541
6438
13,674 15,737
2,647
2,536
124,309 132,192
64,328 69,611
12,148 12,814
3,978
3,762
25427 28172
4,829
5,058
13318 14 149
713
677
4131
4763
35,868 36,541
30,913 31083
4955
5458
24,113 26040
114,957 128,130
164,919 181,270
111,545 123,059
28,911 30853
11,162 13,049
14,642 15,687
25,970 28,014
9,849 10,862
16,948 19,845
4,063
4,749
312,938 346,304
13,588 15,385
10,766 11,733
57,330 67,758
9484 10923
4,994
5,823
3,985
4,415
9,693 10,384
104,520 111,085
16,425 18,770
16,767 17,689
29,093 31,777
11,034 12,034
18,059 19,743
28,616 32,022
7,677
8,540
323,769 346,293
114,338 121,912
93,948 99,739
51,656 54,796
42,292 44,943
20,390 22,173
209,431 224,381
194,790 208,579
103,554 110,259
91,236 98,320
14,641 15,802
2
63
97
SURVEY OF CURRENT BUSINESS
March 1986
Table 6.6B.—Full-Time and Part-Time Employees by Industry
Table 6.7B.—Full-Time Equivalent Employees by Industry
[Thousands]
[Thousands]
Line
Full-time and part-time employees
Domestic industries
Private industries. . .
Agriculture, forestry, and fisheries
Farms
Agricultural services, forestry, and fisheries
Mining
Metal mining. .
Coal mining
;....
Oil and gas extraction
Nonmetallic minerals, except fuels
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
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
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 miscellaneous plastic products
Leather and leather products
.
Transportation and public utilities
Transportation .
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines except natural gas
Transportation services
Communication
Telephone and telegraph
Radio and television broadcasting
Electric gas and sanitary services
Wholesale trade
Retail trade . .
...
. . . . .
Finance, insurance, and real estate
Banking
Credit agencies other than banks
Security and commodity brokers and services
Insurance carriers
Insurance agents and brokers, and services
Real estate
. . . .
Holding and other investment companies
Services
....
Hotels and other lodging places
Personal services
Business services
Auto repair services, and garages
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Health services
.
....
Legal services
Educational services
Social services and membership organizations
Social services
Membership organizations
Miscellaneous professional services
Private households
Government and government enterprises
Federal
Government
Civilian 1
Military
• •
State and local
Education
Other
Rest of the world
1. Includes Coast Guard.
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
35
. . .
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
.
52
53
54
55
..
56
57
.
58
59
.... 60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
. ... .
77
•
78
79
••• 80
81
82
83
84
85
86
87
1982
1983
97,832
97,858
78,373
1,739
1,163
576
1,130
73
243
703
111
4,003
18,924
11,116
608
434
578
929
1,434
2,257
2,021
706
1,037
715
397
7,808
1,651
68
753
1,172
663
1,300
1,085
198
692
226
5,113
2,816
423
271
1,232
202
445
21
222
1,425
1,205
220
872
5,372
15,564
5,556
1,660
587
283
1,284
498
1,106
138
20,972
1,191
1,007
3,353
643
303
216
831
5,927
628
1,375
2,701
1,129
1,572
1,162
1,635
19,485
6,087
5,195
2,101
3,094
892
13,398
12,643
6,924
5,719
755
-26
98,615 103,241
98,644 103,266
79,060 83,381
1,728 1,724
1,131 1,078
597
646
954
973
57
55
195
200
595
608
107
110
4,057 4,519
18,534 19,476
10,785 11,556
667
719
450
489
574
601
831
862
1,373 1,464
2,040 2,205
2,024 2,211
752
855
990 1,042
698
712
386
396
7,749 7,920
1,618 1,617
65
63
748
750
1,168 1,199
662
681
1,322 1,397
1,051 1,051
193
184
711
785
211
193
5,025 5,194
2,787 2,958
377
378
269
280
1,243 1,343
189
192
454
486
21
19
234
260
1,360 1,346
1,135 1,114
225
232
878
890
5,346 5,638
16,021 17,038
5,709 5,948
1,664 1,678
641
706
321
351
1,282 1,301
514
538
1,146 1,221
141
153
21,686 22,871
1,226 1,337
1,037 1,094
3,604 4,150
673
744
301
332
220
221
844
857
6,104 6,253
672
718
1,397 1,429
2,736 2,789
1,186 1,235
1,550 1,554
1,196 1,283
1,676 1,664
19,584 19,885
6,144 6,217
5,254 5,316
2,123 2,141
3,131 3,175
890
901
13,440 13,668
12,657 12,874
6,926 7,088
5,731 5,786
783
794
25
-29
Line
1984
Full-time equivalent employees 1
Domestic industries.
Private industries
Agriculture, forestry, and fisheries
Farms
Agricultural services, forestry, and fisheries
Mining....
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals except fuels
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
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
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 miscellaneous plastic products
Leather and leather products
Transportation and public utilities
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines, except natural gas
Transportation services
Communication
Telephone and telegraph
Radio and television broadcasting
Electric gas and sanitary services
Wholesale trade
Retail trade
Finance, insurance, and real estate
Banking
Credit agencies other than banks
Security and commodity brokers, and services
Insurance carriers
Insurance agents and brokers, and services
Real estate
Holding and other investment companies ...
Services
Hotels and other lodging places
Personal services
Business services
Auto repair services, and garages
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Health services
Legal services
Educational services
Social services and membership organizations
Social services
Membership organizations
Miscellaneous professional services
Private households . .
Government and government enterprises
Federal
Government
Civilian 2
Military
Government enterprises
State and local
Education
Other
Government enterprises
Rest of the world
. .
. ..
.
.
1
2
3
4
5
6
7
g
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
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
. 53
54
55
56
57
58
59
60
61
62
63
.. 64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
1982
86 041
86 067
69,846
1,480
996
484
1,100
72
236
685
107
3,731
18,249
10838
574
413
559
897
1,396
2208
1,987
702
1,022
705
375
7411
1,567
66
716
1094
649
1 165
1,069
196
675
214
4,828
2666
415
245
1 167
192
420
21
206
1309
1 107
202
853
5125
12 400
5,229
1579
562
271
1236
472
977
132
17704
1029
842
2,972
602
277
168
640
5,339
574
1,201
2,276
979
1,297
1,057
727
16,221
5143
4307
2014
2,293
836
11,078
10,350
5,418
4,932
728
-26
1983
1984
86 699 91 090
86 728 91 115
70,451 74,655
1,478 1,466
969
923
509
543
929
951
56
55
189
195
580
594
104
107
3,785 4,249
17,941 18,889
10558 11335
635
690
443
473
555
584
817
846
1340 1436
1 997 2169
1,995 2,174
750
847
978 1,040
685
700
363
376
7383 7554
1,536 1,536
62
64
721
723
1,101 1,136
650
667
1 192 1264
1,036 1,036
191
183
693
765
199
182
4,755 4,927
2642 2810
362
365
250
261
1 181 1279
180
183
430
461
21
19
218
242
1
244
1 253
1046 1030
207
214
860
873
5,090 5,370
12 772 13 726
5,375 5,604
1584 1599
614
677
307
337
1235 1 254
487
510
1013 1080
135
147
18 326 19473
1058 1 154
871
925
3,195 3,693
630
697
304
276
171
172
659
684
5,498 5,633
614
657
1,220 1,251
2,308 2,357
1,029 1,073
1,279 1,284
1,088 1,167
779
738
16,277 16,460
5177 5244
4343 4396
2034 2065
2,309 2,331
834
848
11,100 11,216
10,356 10,456
5,419 5,446
4,937 5,010
744
760
—29
—25
1.. Full-time equivalent employees equals the number of employees on full-time schedules plus
the number of employees on part-time schedules converted to a full-time basis. The conversion is
made by multiplying the number of employees on part-time schedules by the ratio of average
weekly hours per employee on part-time schedules to average weekly hours per employee on
full-time
schedules in each industry.
2. Includes Coast Guard.
98
SURVEY OF CURRENT BUSINESS
Table 6.8B.—Wages and Salaries per Full-Time Equivalent Employee by
Industry
March 1986
Table 6.9B.—Self-Employed Persons by Industry
[Thousands]
[Dollars]
Line
1
Wages and salaries per full-time equivalent employee
2
Domestic industries .
3
Private industries
4
Agriculture, forestry, and fisheries
5
Farms . . . . .
6
Agricultural services, forestry, and fisheries
7
Mining .
. . .
8
Metal mining
9
Coal mining
Oil and gas extraction
10
11
Nonmetallic minerals, except fuels
12
Construction
13
Manufacturing
14
Durable goods
15
Lumber and wood products
16
Furniture and fixtures
17
Stone, clay, and glass products
18
Primary metal industries
19
Fabricated metal products
20
Machinery except electrical
21
Electric and electronic equipment
22
Motor vehicles and equipment
23
Other transportation equipment
24
Instruments and related products
25
Miscellaneous manufacturing industries
26
Nondurable goods
27
Food and kindred products
28
Tobacco manufactures
29
Textile mill products
30
Apparel and other textile products
31
Paper and allied products
32
Printing and publishing
33
Chemicals and allied products
<
34
Petroleum and coal products
35
Rubber and miscellaneous plastic products
36
Leather and leather products
37
Transportation and public utilities
38
Transportation
39
Railroad transportation
40
Local and interurban passenger transit
41
Trucking and warehousing
42
Water transportation
43
Transportation by air
44
Pipelines except natural gas
Transportation services
. . . . 45
46
Communication
47
Telephone and telegraph
48
Radio and television broadcasting
49
Electric gas and sanitary services
50
Wholesale trade
51
Retail trade
52
Finance insurance and real estate
53
Banking
54
Credit agencies other than banks
55
Security and commodity brokers, and services
56
Insurance carriers
57
Insurance agents and brokers, and services
58
Real estate
59
60
Services
•
61
Hotels and other lodging places
62
63
Business services
.
64
Auto repair services and garages
65
Miscellaneous repair services
Motion pictures
• 66
67
68
Health services
Legal services
•
•••• 69
70
71
Social services and membership organizations
72
Social services
73
Membership organizations
74
Miscellaneous professional services
75
Private households
76
Government and government enterprises
77
Federal
78
79
Civilian
80
81
r l
t t '
82
State and local
83
Government
84
Education
85
Other
86
87
Rest of the world
•
1. Includes Coast Guard.
1982
1983
1984
18,435
18,430
18,331
10,024
8781
12,583
28,379
29,069
29,110
29055
21,972
21,868
21,044
22256
16,483
15,090
20,937
25,992
20,772
23271
21,178
27,027
26,654
22,087
16680
19,272
19,387
23,636
14,110
11 630
23,103
20,134
26,230
32,566
18,548
12,458
24829
23,536
29,692
15,224
21,231
26,068
29448
32,905
18,709
26,578
27,313
22550
26,185
21,694
12,349
18,966
17,041
16819
39,498
19,560
19,388
15,524
27386
16,115
11,993
11,752
16,994
14,556
17,643
21,452
13945
17,861
24,780
12,934
11,971
10,318
13,219
25,116
10,260
18,858
21,080
20,689
24,452
17,384
23,097
17,826
17,762
18,061
17,433
18,736
19,324
19,318
19,186
10,107
8,675
12,833
29,650
30,214
30,582
30488
22,981
21,964
22,149
23,414
17,293
15,549
22,036
26,381
21,722
24,455
22,904
29,231
28,020
23,571
17,741
20,340
20,232
25,656
15,356
12,231
24,606
21,212
27,774
34,246
19,732
13,302
26,143
24,348
33,558
15,048
21,530
26,828
30972
33,952
18,950
28,626
29,554
23937
28,038
22,585
12,913
20,753
18,252
18,179
47,694
21,028
20,224
16,731
30,096
17,076
12,843
12,361
17,944
15,054
18,094
23,304
14,709
19,011
26,751
13,743
12,605
10,723
14,120
26,301
10,402
19,891
22,086
21,632
25,396
18,316
24,448
18,868
18,809
19,109
18,480
19,679
20,147
20,141
19,943
10,887
9333
13,530
30,788
30,218
32,928
31276
24,467
22,063
23,237
24,567
17,655
16,586
22,995
27,509
22,641
25,774
23,977
31,639
29,081
24,686
18,269
21,241
20,950
26,565
15,906
12,719
26,175
22,244
29,338
35,180
20,571
13,934
26,830
24,773
35,107
15,241
22,027
27,639
30692
35,632
19,682
29,374
30,178
25505
29,828
23,860
13,206
21,959
19,295
19,275
46,549
22,340
21,298
18,375
32,306
17,784
13,332
12,684
18,348
15,671
19,155
25,669
15,181
19,720
28,569
14,140
13,482
11,215
15,376
27,440
10,963
21,038
23,248
22,689
26,536
19,281
26,147
20,005
19,948
20,246
19,625
20,792
Self-employed persons *
Agriculture, forestry, and fisheries
Farms.. .
Agricultural services, forestry, and fisheries . .
Mining
Construction ... .
Manufacturing
.
Durable goods
Nondurable goods
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
Line
1982
1983
1984
1
2
3
4
5
6
7
8
9
10
11
12
13
14
8,923
1677
1414
263
34
1 131
358
215
143
308
284
1,610
496
3,025
9,212
1596
1332
9,412
1,586
1318
264
29
268
25
1 171 1,248
375
220
155
325
320
364
217
147
321
326
1634
1,614
539
3,223
550
3,378
1. Consists of active proprietors or partners who devote a majority of their working hours to
their unincorporated businesses.
99
SURVEY OF CURRENT BUSINESS
March 1986
Table 6.1 OB.—-Persons Engaged in Production by Industry
Table 6.11.—Hours Worked by Full-Time and Part-Time Employees by
Industry
[Thousands]
Line
1982
1983
94,964
94,990
78,769
3,157
2,410
747
1,134
73
237
714
110
4,862
18,607
11,053
646
427
569
900
1,409
2,244
1,998
704
1,034
709
413
7,554
1,591
66
721
1,110
651
1,249
1,073
197
678
218
5,136
2,961
415
291
1,399
195
424
21
216
1,314
1,109
205
861
5,409
14,010
5,725
1,580
564
317
1,236
623
1,273
132
20,729
1,340
1,334
3,345
909
515
266
702
5,677
786
1,311
2,382
1,063
1,319
1,435
727
16,221
5,143
4,307
2,014
2,293
836
11,078
10,350
5,418
4,932
728
-26
95,911
95,940
79,663
3,074
2,301
773
958
58
191
600
109
4,956
18,316
10,778
697
462
571
822
1,354
2,031
2,005
752
986
690
408
7,538
1,558
64
727
1,121
651
1,289
1,038
191
697
202
5,080
2,951
362
302
1,413
186
434
21
233
1,263
1,052
211
[Millions of hours]
1984
Line
Persons engaged in production *
Domestic industries
Private industries
,
Agriculture, forestry, and fisheries
Farms
Agricultural services, forestry, and fisheries
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
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
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
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 miscellaneous plastic products
Leather and leather products
Transportation and public utilities
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines, except natural gas
Transportation services
Communication
Telephone and telegraph
Radio and television broadcasting
Electric, gas, and sanitary services....
Wholesale trade
Retail trade
Finance, insurance, and real estate.
Banking
Credit agencies other than banks
Security and commodity brokers, and services
Insurance carriers
Insurance agents and brokers, and services
Real estate
Holding and other investment companies
Services
Hotels and other lodging places
Personal services
Business services
Auto repair, services, and garages
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Health services
Legal services
Educational services
Social services and membership organizations..
Social services
Membership organizations
Miscellaneous professional services
Private households
Government and government enterprises
Federal
Government
Civilian
Military2
Government enterprises
State and local
Government
Education
Other
Government enterprises
Rest of the world
.....^
100,502
100,527
84,067
3,052
2,241
811
976
57
196
614
109
5,497
19,253
11,552
748
491
602
848
1,458
2,204
2,183
850
1,049
703
416
7,701
1,552
62
733
1,159
669
1,349
1,038
183
771
185
5,248
3,113
365
309
1,509
189
466
19
256
1,253
1,035
218
882
5,410 5,696
14,406 15,340
5,914 6,154
1,587 1,601
684
619
391
360
1,235 1,254
628
655
1,350 1,422
147
135
21,549 22,851
1,382 1,462
1,379 1,442
3,703 4,272
927 1,022
523
548
274
280
717
749
5,821 5,974
882
830
1,333 1,354
2,475 2,546
1,165 1,225
1,310 1,321
1,447 1,541
738
779
16,277 16,460
5,177 5,244
4,343 4,396
2,034 2,065
2,309 2,331
834
848
11,100 11,216
10,356 10,456
5,419 5,446
4,937 5,010
• 744
760
-29
-25
1. Equals the number of full-time equivalent employees (table 6.7) plus the number of selfemployed persons (table 6.9). Unpaid family workers are not included.
2. Includes Coast Guard.
1982
163,060
163,114
133,423
3,230
2,306
924
2,326
7,550
35,165
20,709
14,456
9,152
4,932
2,581
1,639
10,018
23,212
9,488
•33,282
29,691
26,684
3,007
-54
Hours worked by full-time and part-time employees
Domestic industries
Private industries
Agriculture, forestry, and fisheries
Farms
Agricultural services, forestry, and fisheries
Mining
Construction
Manufacturing
Durable goods
'.
,
Nondurable goods
Transportation and public utilities
Transportation
Communication
Electric, gas, and sanitary services
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
Government and government enterprises
Government
Government enterprises
Rest of the world
1983
1984
165,037
173,740
173,792
143,796
3,224
2,179
1,045
2,014
8,674
37,401
22,398
15,003
9,427
5,273
2,461
1,693
10,500
25,479
10,172
36,905
29,996
26,920
3,076
-52
165,097
135,353
3,205
2,245
960
1,934
7,662
35,259
20,638
14,621
8,931
4,910
2,354
1,667
9,922
9,692
34,913
29,744
26,714
3,030
-60
Table 6.12.—Employer Contributions for Social Insurance by Industry
[Millions of dollars]
Line
Employer contributions for social insurance
Domestic industries
Private industries
. . . .
.
. .
1982
1983
1984
1
157,262 171,019 192,796
2
157,262 171,019 192,796
3
95,073 103,380 120,836
Agriculture, forestry, and fisheries
4
1,251
1,338
1,461
Mining
5
2,030
1,886
2,174
6,704
7,302
8,786
Construction
6
Manufacturing
Durable goods
Nondurable goods
7
8
9
29,500 31,656 37,292
18,493 19,680 23,745
11,007 11,976 13,547
Transportation and public utilities
Transportation
.
Communication
Electric, gas and sanitary services
10
11
12
13
9,825 10,330 11,658
6,014
6,258 7,178
2,299 2,426 2,605
1,512 1,646
1,875
Wholesale trade
,
Finance insurance and real estate
Services
Government and government enterprises
Rest of the world
14
15
Retail trade
. .
16
7,994
8,545 10,100
12,081 13,380 15,614
6,846
7,779
8,996
17
18,842 21,164 24,755
18
62,189 67,639 71,960
19
100
SURVEY OF CURRENT BUSINESS
Table 6.13.—Other Labor Income by Industry and by Type
Table 6.15B.—Noncorporate Capital Consumption Allowances by
Industry
[Millions of dollars]
Line
Other labor income
By industry
Domestic industries
Private industries
Agriculture, forestry, and fisheries
Mining
Construction
Manufacturing
Durable goods
Nondurable goods
Transportation and public utilities
Transportation
Communication
Electric, gas, and sanitary services
...
Wholesale trade .
Retail trade
Finance, insurance, and real estate
Services
Government and government enterprises
Rest of the world
By type
Employer contributions to private pension and welfare funds
Pension and profit-sharing
Group insurance
Group health insurance ... .
Group life insurance
Workers' compensation
Supplemental unemployment
Other
Addenda:
Benefits paid by private pension and welfare funds
Pension and profit-sharing
Group health insurance
Group life insurance
Workers' compensation
Supplemental unemployment
1982
1983
Line
163 620 179 468 193 390
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
163 620 179 468 193 390
148,177 161 901 173 902
20
21
28
29
30
31
32
33
906
908
944
4207
9411
59518
38076
21442
19993
7294
8179
4520
9130
10437
12,688
21887
15,443
3820
10484
63831
40*490
23341
21 537
7902
8 609
5*026
9 976
11943
14388
25014
17567
3969
11921
68489
44371
24 118
22464
8612
8 650
5202
10741
12967
15207
27200
19488
161,406
57417
87,785
80328
7,457
15646
176,877
63266
97,015
89370
7,645
16116
190,516
67518
104,997
97 168
7,829
17500
558
480
501
2,214
2591
2,874
151,182
45,448
85901
7,056
11,847
169 585
53,915
95182
7,301
12,776
185 603
62,612
101 465
7,503
13,745
930
411
278
Table 6.14B.—Nonfarm Proprietors' Income by Industry
[Millions of dollars]
Line
Nonfarm proprietors' income
Agricultural services forestry and fisheries
Mining
f.
Construction
Manufacturing
. . .
Durable goods
Nondurable goods
Transportation and public utilities
Transportation
Communication
Electric gas and sanitary services
Wholesale trade
1
Services
Health services
Other
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
[Millions'of dollars]
1984
1
22
23
24
25
26
27
March 1986
1982
1983
1984
148,530 167,686 183,588
2,890 4,680 3,444
6,583 4,244 3,088
25,014 30,213 32,017
1,639 2,254 3,080
1,185 1,264 1,835
990 1,245
454
9,251 8,883 9,515
8,857 8,677 9,245
112
134
-142
536
340
382
7,487
22,099
-913
74,480
19,603
12,522
42,355
6,383
27,245
1,053
82,731
19,826
14,040
48,865
7,132
29,440
2,786
93,086
22,481
15,962
54,643
Noncorporate capital consumption allowances
Agriculture, forestry, and fisheries
Farms
Agricultural services, forestry, and fisheries
Mining
Construction
Manufacturing
Durable goods
Nondurable goods
Transportation and public utilities
Transportation
Communication
Electric, gas, and sanitary services
Wholesale trade
Retail trade
Finance insurance and real estate .. ..
Finance and insurance
Real estate
Owner-occupied nonfarm housing
Other
Services
1982
1983
1984
1
95120 108 700 122 115
2
3
4
5
12206 12482 12927
11 128 11 420 11 696
1,078 1 062 1,231
5785 7 175 8786
6
7
8
9
2603
2785
3030
1474
822
652
1901
1 166
'735
2302
1442
10
11
12
13
14
15
4410
2566
4955
2802
5403
2794
480
726
868
970
1 121
4 116
4468
4822
16
17
18
19
20
21
51701
1835
49*866
23342
26524
59488
2087
57401
25234
32167
66175
2 514
63661
27230
36431
417
1427
860
1 673 1883
11957 14476 17549
101
SURVEY OF CURRENT BUSINESS
March 1986
Table 6.17B.—Net Interest by Industry
Table 6.16B.-—Inventory Valuation Adjustment to Nonfarm Incomes by
Legal Form of Organization and Industry
[Millions of dollars]
[Millions of dollars]
Line
1982
Line
Inventory valuation adjustment to nonfarm incomes
1
Mining
9953
5374
518
8
60
1004
3029
1927
1 102
325
192
92
225
3721
2253
331
900
2
122
594
2979
1 980
999
-69
141
84
156
41
1468
345
478
5
44
26
23
-3
34
284
-122
151
37
22
-15
155
376
-183
89
12
4
-8
18
245
-155
4
5
6
7
Transportation and public utilities
Transportation
Communication.. . .
Electric, gas, and sanitary sen/ices
8
9
10
11
-1,630
185
Wholesale trade
12
Retail trade
13
14
15
16
17
18
19
20
21
22
23
1461
1701
604
Mining
Construction
Manufacturing
Durable goods
Nondurable goods
Wholesale trade . .
Retail trade
Other
289
4464
4 469
5
o
-1,815
.
.
...
.
.
Agriculture, forestry, and fisheries
203
Manufacturing
Durable goods ..
Nondurable goods
Other
Net interest
Domestic industries
10,352
Construction
Noncorporate business
1984
— 10,87C — 10,853 -5,852
2
3
Corporate business
1983
Mining
..
3
4
18,795 18,516 18,156
Manufacturing
Durable goods
Nondurable goods
6
7
8
9
10
11
12
13
Retail trade
Finance insurance and real estate
Finance
Real estate
Other
'.
Services
Rest of the world
1984
272,277 273,640 300,247
5
Wholesale trade
1983
1
2
Construction
Transportation and public utilities
Transportation
Communication
Electric gas and sanitary services
1982
14
15
16
17
18
19
20
249,063 253 728 284 465
6199
5806
6683
2,446
2488
2818
27,325 26141 30680
12158 11384 13 491
15,167 14,757 17,189
30166 29154 33806
3,636 3,491 4,020
6,903 6558 7676
19627 19105 22110
5441
5201
6027
7934
7669
8,815
141,959 149,498 166,989
-9288 14,56C — 19 098
152,497 165,969 188,269
-1,250 -1,911 -2,182
8,798
9,255 10,491
23,214 19,912 15,782
Table 6.18B.—Corporate Profits by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1982
1985
I
II
III
IV
II
I
1985
1984
1983
III
IV
II
I
III
IV
II
I
III
IV
1
150.0
213.8
273.3
297.0
149.9
149.6
154.3
146.1
173.4
205.9
228.4
247.6
268.0
277.8
271.2
276.2
281.7
288.1
309.1
309.1
Domestic industries
2
121.9
183.0
241.1
265.0
123.5
121.5
125.7
117.1
145.9
176.6
195.5
214.1
234.6
248.3
238.1
243.5
250.4
3
4
10.1
111.9
22.4
160.6
20.0
221.1
24.4
240.7
4.8
118.6
7.9
113.6
10.5
115.2
17.0
100.1
21.1
124.8
24.6
151.9
22.4
173.1
21.5
192.5
21.4
213.2
21.1
227.2
18.0
220.0
19.5
224.1
20.7
229.8
256.4
24.3
232.2
274.5
Financial
Nonfinancial
Rest of the world
Corporate profits with
inventory valuation
adjustment.
Domestic industries
Corporate profits with
inventory valuation
and capital
consumption
adjustments.
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
5
28.0
30.8
32.2
31.9
26.4
28.2
28.5
29.1
27.5
29.4
33.4
29.5
33.2
32.7
159.2
195.0
232.3
226.1
164.0
160.7
161.6
150.7
163.7
190.5
32.9
207.3
33.5
6
218.7
234.4
241.8
226.5
226.3
31.3
220.6
31.6
220.9
278.8
25.7
253.1
30.3
233.2
7
131.2
164.2
200.1
194.2
137.5
132.5
133.0
121.6
136.2
161.1
174.4
185.1
201.0
212.3
193.3
193.7
189.4
189.3
203.0
195.1
8
9
10
11.8
15.4
-3.6
22.7
14.8
7.8
19.2
16.7
2.5
22.5
16.8
5.7
6.5
15.5
-9.0
9.7
15.9
-6.2
12.4
15.5
-3.1
18.7
14.8
3.9
22.0
14.5
7.5
25.0
14.5
10.5
22.4
14.9
7.5
21.2
15.4
5.8
20.8
16.0
4.8
20.4
16.4
4.0
17.2
17.0
.2
18.4
17.4
1.0
19.2
17.1
2.1
22.5
17.2
5.3
23.8
16.5
7.3
24.7
16.4
8.2
170.5
11
119.4
141.6
180.9
171.7
131.1
122.8
120.6
102.9
114.2
136.1
152.0
163.9
180.2
191.9
176.1
175.3
170.2
166.7
179.2
12
13
14
58.0
2.1
49
71.3
15.3
27
88.5
31.5
9
78.2
26.8
-.6
61.5
3.6
-3.7
59.5
5.9
-6.0
64.3
5.5
-4.9
46.8
6.6
-5.1
52.3
5.5
-2.7
64.6
11.3
-3.0
78.9
17.7
-2.9
89.2
26.7
-2.3
94.2
32.9
-1.2
94.9
31.4
-.7
82.2
82.7
77.3
73.4
79.7
28.8
-1.1
32.9
7
27.8
-.7
26.6
-.9
25.2
-.2
15
2.4
3.0
5.0
4.3
3.4
2.7
2.4
.9
1.8
2.4
3.0
4.8
4.4
4.7
4.8
5.9
4.6
4.3
4.6
16
4.1
3.1
5.2
4.8
8.1
3.7
3.1
1.3
1.6
3.3
3.3
4.4
4.5
6.0
4.8
5.7
3.3
4.8
5.3
17
1.7
1.0
2.8
3.0
1.7
2.7
2.6
.1
.8
.5
.3
2.5
2.8
2.0
3.2
3.1
2.7
2.9
3.7
5.2
18
-.8
6.7
10.0
7.6
-4.9
2.7
1.7
-2.7
1.9
4.4
9.5
11.1
14.4
9.8
7.4
8.5
9.5
7.8
19
-.4
4.1
9.4
7.7
1.0
.2
.6
1.2
2.1
3.7
4.5
6.2
8.0
9.5
9.9
10.3
8.4
7.7
6.5
20
21
55.9
7.0
56.0
6.8
57.0
7.5
51.4
7.1
57.9
6.7
53.6
6.9
58.7
7.5
53.5
7.1
46.8
6.7
53.3
7.0
61.2
6.2
62.5
7.4
61.3
8.1
63.5
7.8
53.4
7.3
49.8
6.6
49.5
6.6
46.9
7.0
54.5
7.7
22
5.2
6.8
8.1
5.2
6.7
6.2
4.7
3.2
5.0
5.9
8.2
8.2
9.0
9.1
7.4
6.8
5.8
5.7
5.6
23
29.1
21.8
18.3
16.5
33.5
26.7
30.5
25.9
16.1
20.5
25.5
25.2
20.1
22.7
15.7
14.8
14.1
11.8
19.7
24
14.5
20.5
23.1
22.6
11.1
13.8
16.0
17.3
18.9
19.9
21.3
21.7
24.1
23.8
23.0
21.6
23.0
22.4
21.5
Transportation and public 25
utilities.
Wholesale and retail trade- 26
27
Other
19.3
22.5
28.6
28.8
21.4
21.7
17.6
16.3
21.1
22.9
23.7
22.2
27.8
29.6
28.5
28.6
29.7
28.6
30.4
34.6
39.1
50.7
49.5
37.9
34.0
32.9
33.6
32.6
40.8
39.9
43.1
46.8
52.7
51.5
51.8
48.7
50.6
53.6
7.5
8.7
13.0
15.1
10.3
7.7
5.8
6.2
8.2
7.8
9.5
9.4
11.5
14.7
13.9
12.1
14.5
14.1
15.4
28.0
30.8
32.2
31.9
26.4
28.2
28.5
29.1
27.5
29.4
32.9
33.5
33.4
29.5
33.2
32.7
31.3
31.6
30.3
Rest of the world
28
26.8
247.7
34.6
229.8
34.6
102
SURVEY OF CURRENT BUSINESS
March 1986
Table 6.20B.—Federal, State, and Local Corporate Profits Tax Liability
by Industry
Table 6.19B.—-Corporate Profits Before Tax by Industry
[Millions of dollars]
[Millions of dollars]
Line
1982
1983
1984
Line
Corporate profits before tax
Domestic industries
Agriculture, forestry, and fisheries
Farms
Agricultural services, forestry, and fisheries
Mining
Metal mining
Coal mining
Oil and gas extraction.
Nonmetallic minerals except fuels
Construction
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone clay and glass products
....
Primary metal industries
Machinery except electrical
....
Electric and electronic equipment
Other transportation equipment ....
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods »
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Petroleum and coal products
Rubber and miscellaneous plastic products
Leather and leather products
. .
Transportation and public utilities
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines except natural gas
Communication
Telephone and telegraph
Radio and television broadcasting
Electric gas and sanitary services
Wholesale trade
Retail trade
Finance insurance and real estate
.
.
..
Federal Reserve banks
Commercial and mutual banks
Security and commodity brokers and services
Insurance carriers
Real estate
Holding and other investment companies
Services
;
Hotels and other lodging places
"R
Auto repair services and garages
M t'
't
A
f H
rw-h
Health services
PVl
t°
t*
V
1
Other 1
Rest of the world 2
Receipts from rest of the world
ss. aymen
. . .
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
35
36
37
...
38
39
40
..
41
42
43
44
. 45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
....
63
64
65
66
67
68
69
70
71
72
73
74
75
76
69,584 04,994
41,537 74,162
-68 -360
74
6
-2,103 -2,904
-609
583
-2,370
293
3,076 2,676
62,483 74,287
6,578 17,229
-9
1,058
137
-4,451
2,804
4,885
2,401
453
-2,391
1,497
1,100
55,905 57,058
7,210
2,193
858
2,179
2,951
4,638
5,233
28,624
1,314
705
20,887 22,159
140
855
283
359
1,239
482
-2,134
1,251
190
7,860 6,701
7,104
756
12,887 14,603
20,589 24,247
17,156 20,828
9,180 22,449
18,508
15,431
3,077
6608
1,362
-4,702
800
-1,761
1,581
10,337 10,780
451
738
2,755
120
268
697
294
5,014
3,510
652
84
768
28,047 30,832
31,274 36,239
3,227 5,407
37,628
05,444
-24
1323
2,636
91,488
33,490
57,998
28,681
4,667
7,280
16,734
29,557
22,660
20,353
11,416
32,184
41,314
9,130
1. Consists of sociial services, membership organizations, and miscellaneous professional
services.
;
2. Consists of receipts by all U.S. residents, including both corporations and persons, of
dividends from their incorporated foreign affiliates, their share of reinvested earnings of their
incorporated foreign affiliates, and earnings of unincorporated foreign affiliates, net of corresponding outflows.
Corporate profits tax liability
Domestic industries
Agriculture, forestry, and fisheries
Farms
Agricultural services, forestry, and fisheries
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
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
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
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 miscellaneous plastic products
Leather and leather products
Transportation and public utilities
Transportation
Railroad transportation.,
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines, except natural gas
Transportation services
Communication
Telephone and telegraph
Radio and television broadcasting
Electric, gas, and sanitary services
Wholesale trade
Retail trade
Finance, insurance, and real estate
Banking
Federal Reserve banks
Commercial and mutual banks
Credit agencies other than banks
Security and commodity brokers, and services
Insurance carriers
Insurance agents and brokers, and services
Real estate
Holding and other investment companies
Services
Hotels and other lodging places
Personal services
Business services
Auto repair, services, and garages
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Other services
Health services
Legal services
Educational services
Other1
Rest of the world
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
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
1982
63,081
63,081
96
80
16
640
-55
86
528
81
1,278
25,407
8,742
3
385
170
122
1,705
2,862
2,075
88
-94
893
533
16,665
3,269
1,105
430
796
801
1,989
2,769
4,666
506
334
5,153
1,027
2
35
512
-18
-128
572
52
1,498
970
528
2,628
5,006
5,158
17,922
15,652
15,205
447
-1,556
802
1,925
228
457
414
2,421
222
162
800
52
53
95
199
838
541
61
21
215
1983
1984
75,200 93,629
75,200 93,629
144
239
355
840
656
929
30,164 38,951
9,450 15,374
20,714 23,577
6,915
1,644
8,973
2,459
1,890
2,325
4,189
6,533 7,883
6,421 7,229
20,277 24,666
1. Consists of social services, membership organizations, and miscellaneous
services.
3,462
4,192
professional
Table 6.21B.—-Corporate Profits After Tax by Industry
Table 6.22B.—Net Corporate Dividend Payments by Industry
[Millions of dollars]
[Millions of dollars]
Line
Corporate profits after tax
Domestic industries
Agriculture, forestry, and fisheries
Farms
Agricultural services forestry and fisheries
Mining
Metal mining
Coal mining
Oil and gas extraction
.
. . .
Nonmetallic minerals except fuels
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
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
.
Miscellaneous manufacturing industries
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 miscellaneous plastic products
Leather and leather products
Transportation and public utilities
Transportation
Railroad transportation
.
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines except natural gas
Transportation services
Communication
Telephone and telegraph
.
Radio and television broadcasting
Electric gas and sanitary services
....
Wholesale trade
Retail trade
Finance, insurance, and real estate
Banking
Federal Reserve banks
Commercial and mutual banks
Credit agencies other than banks
Security and commodity brokers and services
Insurance agents and brokers and services
Real estate
Molding and other investment companies
Services
Hotels and other lodging places
.
Business services
.
Auto repair services and garages
Miscellaneous repair services
Motion pictures
Amusement and recreation services
H ItVi
T
1
Educational services
Other 1
Rest of the world 2
Receipts from rest of the world
Less' Payments to rest of the world
.. ..
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
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
83
64
65
66
67
68
69
70
71
72
73
74
75
76
1982
1983
1984
106,503 129,794 143,999
78,456 98,962 111,815
-263
-504
-164
-154
10
-2,743 — 3,259 —2,163
554
497
-2,898
212
1,798 1,747 1,980
37,076 44,123 52,537
-2,164 7,779 18,116
12
673
-33
4573
1,099
2023
326
-541
2297
604
567
39,240 36,344 34,421
3,941
1088
428
1,383
2150
2,649
2,464
23958
808
371
15,734 15,244 19,708
-887
2,208
-789
-285
324
727
-464
-2,006
679
138
6,362 4,811 4,955
6,134
228
10,259 11222 12545
15,583 17,714 21,674
11,998 14,407 15,431
-8,742 2,172 -4,313
2856
226
2630
5052
560
6627
572
2218
1,167
7,916 7,318 7,224
229
576
1,955
68
215
602
95
4,176
2,969
591
63
553
28,047 30,832 32,184
31,274 36,239 41,314
3,227 5,407 9,130
1. Consists of social services, membership organizations, and miscellaneous professional
services.
2. Consists of receipts by all U.S. residents of dividends from their incorporated foreign
affiliates, their share of reinvested earnings of their incorporated foreign affiliates, and earnings
of unincorporated foreign affiliates, net of corresponding outflows.
103
SURVEY OF CURRENT BUSINESS
March 1986
Line
Net corporate dividends
Domestic industries
Agriculture, forestry, and fisheries
Farms
Agricultural services, forestry, and fisheries ...
Mining
Metal mining
. . .,
Coal mining . ..
Oil and gas extraction
Nonmetallic minerals, except fuels
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....
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
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 miscellaneous plastic products
Leather and leather products
;
Transportation and public utilities
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines, except natural gas . .
. . . .
Transportation services
Communication.. .
. .
.
Telephone and telegraph
Radio and television broadcasting
Electric gas and sanitary services
Wholesale trade
Retail trade
Finance, insurance, and real estate ....
Banking
Federal Reserve banks
Commercial and mutual banks
Credit agencies other than banks
Security and commodity brokers and services
Insurance carriers
Insurance agents and brokers and services
Real estate...
Holding and other investment companies
Services
Hotels and other lodging places
Personal services
Business services
...
...
Auto repair services and garages
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Other services .
Health services
.
...
Legal services
Educational services
Other 1
Rest of the world
Receipts from rest of the world 2
Less* Payments to rest of the world3
:..
.
..
t.
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
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
1982
1983
66879 70 769
54344 61 083
323
351
261
62
2 124 2 504
100
202
1,586
236
686
601
22,600 26263
5,939 7,087
662
157
592
743
743
1 802
1,192
—242
474
460
304
16,661 19,176
2,252
727
221
321
971
1,642
5424
4,847
71
185
18,336 19864
1,933 2106
804
20
374
60
181
269
225
6584 7 107
6190
394
9819 10651
7,373 7704
3 293 3 424
2,903 2720
2,399
79
2,320
507
231
-9,873
369
1,660
1,804
2,597 3,007
330
92
762
113
38
184
118
960
414
78
60
408
12,535 9,686
18123 15433
5,588 5,747
1984
78 105
67 142
380
1 715
610
28,725
9,383
19,342
22300
2,289
7744
12267
8341
3 838
2061
3,294
10,963
17064
6,101
1. Consists of social services, membership organizations, and miscellaneous professional
services.
2. Consists of receipts by all U.S. residents of dividends paid by their incorporated foreign
affiliates and remitted earnings of their unincorporated foreign affiliates.
3. Consists of payments by incorporated U.S. affiliates of dividends paid to foreign residents
and earnings of unincorporated U.S. affiliates remitted to foreign residents.
104
SURVEY OF CURRENT BUSINESS
Table 6.23B.—Undistributed Corporate Profits by Industry
Table 6.24B.—Corporate Capital Consumption Allowances by Industry
[Millions of dollars]
[Millions of dollars]
Undistributed corporate profits
Domestic industries
Agriculture, forestry, and fisheries
Farms .
Agricultural services, forestry, and fisheries
Mining
Metal mining .
Coal mining
Oil and gas extraction
Nonmetallic minerals except fuels
Construction
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
.
Stone clay and glass products
Primary metal industries
Fabricated metal products
..
Electric and electronic equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Nondurable goods
Food and kindred products
Tobacco manufactures
• • ••
Apparel and other textile products
Paper and allied products
Chemicals and allied products
Rubber and miscellaneous plastic products
Leather and leather products
Transportation and public utilities
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Pipelines except natural gas
.
....
.
Communication
Telephone and telegraph
Radio and television broadcasting
Electric gas and sanitary services
Wholesale trade
Retail trade
Finance insurance and real estate
Banking
..
•.
..
...
...
• ••
Commercial and mutual banks
Credit agencies other than banks
Security and commodity brokers and services
T
t
d
h
k
ri
V q
Real estate
Services
6Sa
p
March 1986
° -P a
^
^
R
A
M"
'
d ff ?PS
'
11
' '
Motion pictures
.
Amusement and recreation services
Tj
T
PYT
li^
1
,.
,
Other 1
Rest of the world1
Less* Payments to rest of the world
•
3
Line
1982
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
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
39,624 59,025 65,894
24,112 37,879 44673
—855 —643
-487
1983
1984
415
-72
4 gg7
5763
3 878
295
—4,484
24
1,370
1,197 1,061
14 476 17860 23812
692 8733
8103
674
516
625
-5,316
356
221
-866
299
-1,823
144
263
22,579 17,168 15,079
1689
361
207
1,062
1 179
1007
-2,960
19111
737
186
—2,602 —4,620 — 2,592
-2,820 -2,895
81
-1,089
304
353
524
2187
410
87
—222 -2,296 -2,789
-56
-166
571
278
8,210 10,010 10 OQQ
8,705 10,983 11,593
5839 4,892 2,252
457
147
310
5559
090
3246
203
-3878
637
5,319
4,311
3,930
101
484
1,193
-45
177
418
-23
3,216
2,555
Mining
Metal mining
Coal mining
Oil and gas extraction
..
Nonmetallic minerals, except fuels
145
15,512 21,146 21,221
13151 20,806 24,250
340 3,029
-2,361
1982
1983
1984
225,730 263,755 297,640
2
3,050
3
4
2,469
581
5
6,943
6
7
8
9
271
1,113
5,046
513
3,616
4,122
7,104
7,863
7,566
8,421
Construction .
10
Manufacturing
11
97,935 113,292 125 269
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
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
12
13
14
15
16
17
18
19
20
21
22
23
46,676 54,320 59,110
2,521
464
2,644
6,465
4,208
9,141
8,202
7,317
2,503
2,069
1,142
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 miscellaneous plastic products
Leather and leather products
24
25
26
27
28
29
30
31
32
33
34
51,259 58,972 66,159
7,732
1,065
1,410
677
3,287
3,601
9,944
22,085
1,279
179
35
49,802 59,613 67,594
36
37
38
39
40
41
42
43
13,937 16,759 18,137
4,535
350
3,210
1,167
2,981
640
1,054
Communication
Telephone and telegraph ..
Radio and television broadcasting
44
45
46
18,654 22,758 27,191
17,419
1,235
Electric gas and sanitary services
..
Transportation and public utilities .
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines except natural gas
Transportation services
. .
6,371
47
17,211 20,096 22,266
Wholesale trade
48
11,209 11,713 13,049
Retail trade
49
15,681 18,386 20,674
Finance, insurance, and real estate
50
16,487 20,207 23,819
51
52
53
54
55
56
57
58
59
Banking
Federal Reserve banks
Commercial and mutual banks
Credit agencies other than banks
Security and commodity brokers and services
Insurance carriers
Insurance agents and brokers and services
Real estate
Holding and other investment companies .
60
Services
Hotels and other lodging places
Personal services
Business services
Auto repair services and garages
513
1. Consists of social services, membership organizations, and miscellaneous professional
services.
2. Consists of receipts by all U.S. residents of their share of the reinvested earnings of their
incorporated foreign affiliates and reinvested earnings of their unincorporated foreign affiliates.
3. Consists of payments to foreign residents of their share of the reinvested earnings of their
incorporated U.S. affiliates and reinvested vested earnings of their unincorporated U.S. affiliates.
1
Corporate capital consumption allowances
Agriculture, forestry, and fisheries
Farms
Agricultural services, forestry, and fisheries
—654
440
Line
Motion pictures
Amusement and recreation services
Other services
Health services
Legal services
Educational services
Other l
1. Consists of socia
services.
. . .
61
62
63
64
65
66
67
68
69
70
71
72
6,318
41
6,277
1,270
716
1,939
606
4,366
1,272
18,252 22,258 26,829
1,578
849
5,361
3,261
316
779
1,703
4,405
2,443
295
177
1,490
services, membership organizations, and miscellaneous professional
7. Fixed-Weighted Price Indexes and Implicit Price Deflators
Table 7.1.—Fixed-Weighted Price Indexes for Gross National Product, 1982 Weights
[Index numbers, 1982=100]
Seasonally adjusted
Line
Gross national product-- 1
1982
1983
1984
1985
1982
I
II
111
IV
I
1985
1984
1983
III
II
IV
I
II
III
IV
I
III
II
IV
100.0
104.0
108.5
112.4
98.2
99.4
100.7
101.7
102.5
103.5
104.5
105.6
106.9
108.1
109.1
110.0
110.9
111.9
112.7
113.8
Personal consumption
expenditures.
2
100.0
104.0
108.5
112.2
98.3
99.1
100.7
101.8
102.4
103.5
104.4
105.6
106.9
107.9
109.0
110.0
110.7
111.8
112.5
113.8
Durable goods
Nondurable goods
Services
3
4
5
100.0
100.0
100.0
102.2
102.1
105.8
104.1
105.6
111.7
105.1
108.0
117.1
98.9
99.2
97.4
99.9
99.2
98.9
100.4
100.5
100.8
100.7
101.0
102.7
101.4
100.8
103.9
101.7
101.9
105.1
102.5
102.5
106.3
103.3
103.3
107.8
103.5
104.8
109.4
104.1
105.1
111.0
104.2
105.7
112.7
104.5
106.8
113.8
105.2
106.8
115.0
105.2
107.7
116.4
104.9
107.9
117.8
105.2
109.4
119.1
Gross private domestic
investment.
6
Fixed investment
Nonresidential
Structures
Producers' durable
equipment.
Residential
Change in business
inventories.
7
8
9
10
100.0
100.0
100.0
100.0
100.4
99.8
97.2
101.5
102.1
100.8
99.3
101.8
103.9
102.7
101.8
103.2
99.2
98.8
99.5
98.4
100.0
100.0
100.3
99.8
100.6
100.7
100.7
100.7
100.2
100.5
99.4
101.1
100.6
100.2
98.5
101.4
99.7
99.5
96.6
101.4
100.5
99.8
97.0
101.5
100.4
99.6
96.8
101.5
100.6
99.7
97.2
101.3
101.7
100.4
99.0
101.3
102.5
101.1
100.0
101.8
103.0
101.6
100.8
102.2
103.3
102.0
101.0
102.6
103.6
102.4
101.5
103.0
104.1
102.9
102.0
103.5
104.8
103.4
102.8
103.8
11
12
100.0
102.3
106.4
108.3
100.5
100.2
100.4
99.1
102.0
100.4
103.2
103.3
103.8
106.4
107.5
107.8
107.7
107.9
108.2
109.6
Net exports of goods and
services.
13
14
15
100.0
100.0
101.6
97.7
104.6
97.6
104.4
96.0
99.7
101.4
100.1
100.0
100.1
99.3
100.0
99.3
100.6
98.7
101.0
97.4
101.7
97.5
103.2
97.5
104.0
97.7
105.1
98.1
104.8
97.6
104.4
97.1
104.4
95.9
104.6
95.9
104.2
95.5
104.2
96.8
Government purchases of
goods and services.
16
100.0
104.7
109.6
114.6
98.1
99.4
100.5
102.0
103.1
104.2
105.2
106.3
108.0
109.3
109.9
111.0
112.7
113.8
114.8
116.5
Federal
National defense
Nondefense
State and local
Addenda:
Final sales
Personal consumption
expenditures, food.
Personal consumption
expenditures, energy.
Other personal consumption
expenditures.
17
18
19
20
100.0
100.0
100.0
100.0
104.2
103.8
105.0
105.1
107.9
107.6
108.6
110.8
111.2
111.7
109.9
117.2
98.7
98.5
99.2
97.7
99.6
99.6
99.7
99.2
100.0
100.1
99.7
100.9
101.7
101.8
101.4
102.2
102.7
102.4
103.3
103.3
103.8
103.7
104.1
104.4
104.5
104.1
105.7
105.7
105.6
105.1
106.9
106.8
107.2
106.7
108.3
108.6
108.1
107.8
108.8
110.1
107.8
107.5
108.7
111.4
108.4
108.3
108.5
112.9
109.9
110.2
109.8
114.7
110.1
110.5
109.9
116.5
110.6
111.1
109.5
117.9
112.2
113.1
110.2
119.6
21
22
100.0
100.0
104.0
101.9
108.4
106.9
112.3
109.0
98.2
99.2
99.4
99.9
100.7
100.3
101.7
100.6
102.5
100.9
103.4
101.8
104.4
101.8
105.5
103.2
106.9
105.9
108.0
106.1
109.0
107.3
109.9
108.4
110.9
108.4
111.8
108.4
112.6
108.6
113.7
110.5
23
100.0
101.0
102.3
103.2
99.6
97.3
100.9
102.2
99.1
101.0
102.1
101.8
101.9
102.7
102.2
102.4
101.5
104.4
103.8
103.3
24
100.0
104.9
109.7
114.2
97.9
99.2
100.7
102.2
103.3
104.2
105.5
106.7
107.9
109.1
110.4
111.4
112.5
113.6
114.7
116.0
Exports
Imports
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 7.2.—Fixed-Weighted Price Indexes for Gross National Product by Major Type of Product, 1982 Weights
[Index numbers, 1982=100]
Seasonally adjusted
Line
1982
1983
1984
1982
1985
I
Gross national product
Final sales
Change in business
inventories.
Goods
II
III
IV
I
1985
1984
1983
II
III
IV
I
II
III
IV
I
II
III
IV
1
100.0
104.0
108.5
112.4
98.2
99.4
100.7
101.7
102.5
103.5
104.5
105.6
106.9
108.1
109.1
110.0
110.9
111.9
112.7
113.8
2
3
100.0
104.0
108.4
112.3
98.2
99.4
100.7
101.7
102.5
103.4
104.4
105.5
106.9
108.0
109.0
109.9
110.9
111.8
112.6
113.7
4
100.0
102.8
105.8
107.7
98.8
99.6
100.6
101.0
101.3
102.4
103.1
104.2
105.1
105.5
105.9
106.6
107.0
107.6
107.7
108.4
Final sales
Change in business
inventories.
5
6
100.0
102.7
105.7
107.6
98.8
99.6
100.6
101.0
101.2
102.4
103.1
104.1
105.0
105.5
105.8
106.6
106.9
107.5
107.6
108.3
Durable goods
Final sales
Change in business
inventories.
7
8
9
100.0
100.0
102.4
102.4
104.3
104.3
106.2
106.1
98.2
98.2
99.7
99.7
100.9
100.8
101.4
101.3
101.9
101.8
102.1
102.0
102.5
102.5
103.2
103.2
103.5
103.5
104.0
104.0
104.5
104.5
105.1
105.1
106.0
105.9
106.3
106.2
106.3
106.2
106.1
106.0
Nondurable goods
Final sales
Change in business
inventories.
10
11
12
100.0
100.0
103.0
103.0
106.8
106.7
108.7
108.6
99.3
99.3
99.5
99.5
100.4
100.4
100.7
100.7
100.9
100.8
102.7
102.7
103.6
103.5
104.8
104.7
106.1
106.1
106.5
106.5
106.8
106.7
107.6
107.6
107.7
107.6
108.5
108.4
108.7
108.6
110.0
109.9
13
100.0
105.9
111.8
117.6
97.4
107.9
109.7
111.2
112.7
113.8
115.4
116.8
118.1
119.6
102.7
105.7
100.0
102.8
99.4
106.4
99.6
100.9
100.4
105.3
100.0
99.0
100.2
104.0
14
100.1
98.5
99.9
99.9
100.4
102.5
103.5
104.3
104.6
105.3
105.9
106.8
Services
Structures
.
Table 7.3.—Fixed-Weighted Price Indexes for Relation of Gross National Product, Gross Domestic Purchases, and Final Sales to Domestic
Purchasers, 1982 Weights
[Index numbers, 1982=100]
Seasonally adjusted
Line
1982
1983
1984
1982
1985
I
II
III
IV
I
1985
1984
1983
II
III
IV
I
II
III
IV
I
n
III
IV
Gross national product
1
100.0
104.0
108.5
112.4
98.2
99.4
100.7
101.7
102.5
103.5
104.5
105.6
106.9
108.1
109.1
110.0
110.9
111.9
112.7
113.8
Less: Exports of goods and
services.
Plus: Imports of goods and
services.
2
100.0
101.6
104.6
104.4
99.7
100.1
100.1
100.0
100.6
101.0
101.7
103.2
104.0
105.1
104.8
104.4
104.4
104.6
104.2
104.2
3
100.0
97.7
97.6
96.0
101.4
100.0
99.3
99.3
98.7
97.4
97.5
97.5
97.7
98.1
97.6
97.1
95.9
95.9
95.5
96.8
Equals: Gross
domestic
purchases l.
4
100.0
103.6
107.8
111.6
98.4
99.4
100.7
101.7
102.3
103.1
104.1
105.0
106.3
107.4
108.3
109.3
110.1
111.1
111.8
113.1
Less: Change in business
inventories.
5
Equals: Final 2sales to domestic
purchasers .
6
100.0
103.6
107.7
111.5
98.4
99.3
100.6
101.6
102.3
103.1
104.0
105.0
106.2
107.3
108.2
109.2
110.0
111.0
111.7
113.0
1. Purchases in the United States of goods and services wherever produced.
2. Final sales in the United States of goods and services wherever produced.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
106
SURVEY OF CURRENT BUSINESS
March 1986
Table 7.4.—Implicit Price Deflators for Gross National Product
[Index numbers, 1982=100]
Seasonally adjusted
Line
Gross national product.... 1
1982
1983
1984
1985
1982
1983
I
II
III
IV
I
1984
II
III
IV
I
II
1985
III
IV
I
II
III
IV
100.0
103.8
108.1
111.7
98.2
99.4
100.8
101.7
102.4
103.2
104.1
105.3
106.6
107.6
108.6
109.6
110.4
111.3
112.1
113.0
Personal consumption
expenditures.
2
100.0
103.9
108.2
111.6
98.3
99.2
100.7
101.8
102.4
103.4
104.3
105.4
106.7
107.6
108.7
109.6
110.3
111.3
111.9
113.1
Durable goods. .
Nondurable goods
Services .
..
3
4
5
100.0
100.0
100.0
102.1
102.0
105.7
103.9
105.4
111.5
104.7
107.7
116.8
98.9
99.2
97.4
99.9
99.3
98.9
100.4
100.5
100.9
100.7
101.0
102.7
101.3
100.7
103.9
101.6
101.9
105.0
102.4
102.4
106.2
103.1
103.1
107.8
103.4
104.5
109.2
103.9
104.8
110.8
104.1
105.5
112.5
104.2
106.6
113.5
104.9
106.7
114.7
104.8
107.5
116.1
104.6
107.6
117.4
104.4
109.1
118.7
7
»
9
10
100.0
100.0
100.0
100.0
99.9
98.9
97.2
99.9
101.4
99.4
99.3
99.5
102.9
100.9
102.7
99.9
99.1
98.7
99.5
98.2
100.0
99.9
100.3
99.7
100.7
100.8
100.7
100.8
100.3
100.7
99.5
101.5
100.6
100.1
98.7
101.1
99.3
98.9
96.9
100.0
99.8
98.3
96.9
99.1
99.8
98.4
96.4
99.5
100.2
98.8
97.2
99.6
101.3
99.2
98.9
99.3
101.8
99.6
99.8
99.5
102.1
100.1
100.8
99.7
102.4
100.5
101.8
99.8
102.6
100.7
102.7
99.6
103.0
101.0
102.8
100.1
103.5
101.2
103.4
100.1
11
12
100.0
102.2
106.4
108.4
100.5
100.2
100.4
99.1
102.0
100.3
103.2
103.1
103.6
106.5
107.6
107.9
107.7
107.9
108.2
109.7
Gross private domestic
investment.
Fixed investment >
Nonresidential
Structures
Producers' durable
equipment.
Residential
Change in business
inventories.
6
Net exports of goods and
services.
13
Exports
Imports
Government purchases of
goods and services.
Federal
National defense
Nondefense
State and local .
14
15
100.0
100.0
101.4
97.5
103.7
97.4
102.8
95.8
99.7
101.4
100.1
100.0
100.1
99.3
100.0
99.3
100.5
98.7
100.8
97.2
101.4
97.0
102.7
97.1
103.5
97.5
104.3
98.0
103.8
97.3
103.2
96.7
102.9
95.8
103.1
95.7
102.7
95.3
102.4
96.2
16
100.0
104.3
109.0
113.8
98.0
99.4
100.7
101.8
103.1
104,0
104.5
105.7
107.1
108.6
109.5
110.7
112.4
113.6
114.2
115.0
17
18
19
20
100.0
100.0
100.0
100.0
103.4
104.0
101.3
105.0
107.0
107.6
105.1
110.6
110.2
111.1
107.7
116.8
98.5
98.3
99.0
97.7
99.6
99.4
100.2
99.2
100.5
100.2
101.5
100.9
101.3
102.0
99.5
102.2
102.8
102.7
103.1
103.3
103.4
103.7
102.6
104.4
103.1
104.5
99.0
105.6
104.2
105.3
100.1
106.7
105.2
106.6
99.9
108.5
106.8
107.4
105.0
109.9
107.3
107.6
106.7
111.2
108.3
108.6
107.5
112.7
109.9
110.1
109.4
114.4
110.4
110.6
110.0
116.1
110.2
110.9
108.1
117.5
110.2
112.8
104.5
119.2
II
III
IV
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 7.5.—Implicit Price Deflators for Gross National Product by Major Type of Product
[Index numbers, 1982 = 100]
Seasonally adjusted
Line
1982
1983
1984
I
II
III
IV
I
1985
1984
1983
1982
1985
II
III
IV
I
II
III
IV
I
Gross national product.... 1
2
Final sales
3
Change in business
inventories.
100.0
100.0
103.8
103.8
108.1
108.1
111.7
111.7
98.2
98.2
99.4
99.3
100.8
100.8
101.7
101.7
102.4
102.4
103.2
103.3
104.1
104.2
105.3
105.2
106.6
106.5
107.6
107.6
108.6
108.7
109.6
109.6
110.4
110.4
111.3
111.4
112.1
112.0
113.0
113.0
4
5
6
100.0
100.0
102.2
102.3
105.3
105.2
107.0
106.9
98.7
98.7
99.6
99.6
100.8
100.7
100.9
100.9
101.1
101.1
101.9
102.1
102.2
102.5
103.6
103.5
104.6
104.3
104.9
104.9
105.4
105.4
106.2
106.1
106.4
106.3
106,8
106.9
107.1
107.0
107.6
107.4
7
8
9
100.0
100.0
101.9
101.8
103.7
103.7
104.8
104.8
98.0
98.0
99.6
99.6
100.9
100.9
101.5
101.5
101.7
101.7
101.4
101.4
101.7
101.6
102.6
102.6
103.1
103.0
103.4
103.4
103.9
103.9
104.3
104.3
104.9
104.9
104.7
104.7
105.1
105.1
104.6
104.5
10
11
12
100.0
100.0
102.5
102.6
106.5
106.4
108.7
108.5
99.2
99.2
99.6
99.6
100.7
100.6
100.5
100.5
100.7
100.7
102.3
102.5
102.5
103.1
104.4
104.1
105.8
105.3
106.0
106.T)
106.5
106.5
107.7
107.6
107.6
107.4
108.5
108.6
108.7
108.5
109.9
109.6
13
14
100.0
100.0
105.9
100.0
111.8
103.3
117.4
106.4
97.4
100.0
99.0
100.2
100.9
100.4
102.8
99.3
104.0
100.4
105.3
98.9
106.4
100.5
107.9
100.2
109.6
101.0
111.2
103.1
112.7
104.1
113.8
104.8
115.4
105.3
116.8
106.2
118.0
106.6
119.4
107.5
III
IV
II
III
IV
Goods
Final sales
Change in business
inventories.
Durable goods
Final sales
Change in business
inventories.
Nondurable goods
Final sales
Change in business
inventories.
Services
Structures
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 7.6.—Implicit Price Deflators for Gross National Product by Sector
[Index numbers, 1982=100]
Seasonally adjusted
Line
1982
1983
1984
1985
1982
1983
I
II
III
IV
I
II
1985
1984
III
IV
I
II
I
Gross national product.... 1
Gross domestic product
2
3
Business
Nonfarm
4
Nonfarm less housing
5
6
Housing
Farm
7
Statistical discrepancy
8
100.0
103.8
108.1
111.7
98.2
99.4
100.8
101.7
102.4
103.2
104.1
105.3
106.6
107.6
108.6
109.6
110.4
111.3
112.1
113.0
100.0
103.8
108.1
111.7
98.2
99.4
100.8
101.7
102.4
103.2
104.1
105.3
106.6
107.6
108.6
109.6
110.4
112.1
113.0
100.0
100.0
100.0
100.0
100.0
100.0
103.3
103.5
103.2
106.1
97.0
103.3
107.4
107.3
106.8
111.9
112.5
107.4
110.6
111.0
110.3
118.8
95.2
110.6
98.3
98.3
98.4
97.8
97.5
98.3
99.4
99.3
99.4
98.8
102.1
99.4
100.8
100.8
100.8
100.7
102.2
100.8
101.5
101.6
101.5
102.6
98.4
101.5
102.1
102.2
102.1
104.1
97.4
102.1
102.8
103.1
102.9
105.3
90.4
102.8
103.6
103.6
103.3
106.8
101.1
103.6
104.8
104.9
104.6
108.2
100.1
104.8
105.9
105.6
105.2
109.4
120.9
105.9
106.9
106.7
106.3
111.0
114.6
106.9
107.9
107.9
107.4
112.8
108.0
107.9
108.9
108.9
108.4
114.2
107.1
108.9
109.5
109.7
109.1
115.7
101.4
109.5
111.3
110.3
110.7
110.0
117.6
93.4
110.3
111.0
111.5
110.7
119.9
87.9
111.0
111.8
112.1
111.2
121.9
98.3
111.8
Households and institutions.... 9
10
Private households
Nonprofit institutions
11
12
Government
Federal
13
14
State and local
Rest of the world
15
100.0
100.0
100.0
106.9
100.4
107.4
112.9
101.4
113.8
117.2
106.2
118.1
97.3
99.7
97.2
98.9
100.1
98.8
101.0
100.1
101.1
102.7
100.1
102.9
104.4
100.1
104.7
106.2
100.5
106.6
107.7
100.5
108.2
109.2
100.7
109.9
111.4
101.2
112.2
112.3
101.2
113.1
113.4
101.4
114.4
114.3
101.7
115.3
115.5
105.9
116.3
116.6
106.3
117.5
117.7
106.4
118.6
118.8
106.1
119.9
100.0
100.0
100.0
106.2
105.0
106.9
112.4
109.8
113.8
119.3
115.0
121.6
97.4
98.3
96.9
99.1
99.3
99.0
100.7
99.7
101.2
102.9
102.6
103.0
104.4
103.8
104.7
105.7
104.7
106.2
106.8
105.3
107.6
108.0
106.1
109.0
110.6
109.5
111.1
111.8
109.6
112.9
112.9
109.8
114.6
114.3
110.3
116.4
117.0
113.9
118.6
118.5
114.4
120.7
119.9
114.6
122.6
122.0
117.1
124.5
100.0
104.1
108.8
112.8
98.1
99.3
100.8
101.8
102.6
103.5
104.4
105.8
107.2
108.2
109.3
110.3
111.3
112.4
113.3
114.3
100.0
103.1
107.0
Addendum:
Gross domestic business
product less housing.
16
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
107
SURVEY OF CURRENT BUSINESS
March 1986
Table 7.7.—Implicit Price Deflators for the Relation of Gross National Product, Net National Product, and National Income
[Index numbers, 1982=100]
Seasonally adjusted
Line
Gross national product....
Less: Capital consumption
allowances with capital
consumption adjustment.
Equals: Net national product
Less: Indirect business tax and
nontax liability plus
business transfer payments
less subsidies plus current
surplus of government
enterprises.
Statistical discrepancy
Equals: National income
1982
1983
1984
1985
1982
I
II
III
IV
I
1985
1984
1983
II
III
IV
I
II
III
IV
I
II
III
IV
1
2
100.0
100.0
103.8
101.4
108.1
103.2
111.7
103.6
98.2
98.8
99.4
99.7
100.8
100.6
101.7
100.8
102.4
101.4
103.2
101.2
104.1
101.3
105.3
101.8
106.6
102.1
107.6
103.0
108.6
103.6
109.6
104.0
110.4
103.7
111.3
103.3
112.1
103.5
113.0
103.9
3
4
100.0
100.0
104.1
102.8
108.7
1095
112.8
1138
98.1
98.8
99.3
100.1
100.8
101.8
101.8
99.3
102.6
101.4
103.5
104.0
104.4
104.2
105.8
101.6
107.2
103.2
108.2
110.8
109.3
111.7
110.3
112.3
111.3
111.3
112.4
114.8
113.2
115.5
114.3
113.7
5
6
100.0
100.0
103.3
104.2
107.4
108.7
110.6
112.7
98.3
98.0
99.4
99.2
100.8
100,7
101.5
102.1
102.1
102.7
102.8
103.5
103.6
104.5
104.8
106.2
105.9
107.6
106.9
107.9
107.9
109.0
108.9
110.1
109.5
111.3
110.3
112.2
111.0
113.0
111.8
114.4
II
III
IV
II
III
IV
Table 7.8.—Implicit Price Deflators for Command-Basis Gross National Product
[Index numbers, 1982=100]
Seasonally adjusted
Line
Gross national product
Less: Net exports of goods and
services.
Exports .
Imports
Equals: Gross domestic
purchases.
Plus: Command-basis net
exports of goods and services.
Command-basis
exports.
Imports
Equals: Command-basis gross
national product.
1982
1983
1984
1985
1982
1983
I
II
III
IV
I
1984
II
III
IV
I
1985
I
1
2
100.0
103.8
108.1
111.7
98.2
99.4
100.8
101.7
102.4
103.2
104.1
105.3
106.6
107.6
108.6
109.6
110.4
111.3
112.1
113.0
3
4
5
100.0
100.0
100.0
101.4
97.5
103.3
103.7
97.4
107.2
102.8
95.8
110.6
99.7
101.4
98.3
100.1
100.0
99.3
100.1
99.3
100.7
100.0
99.3
101.6
100.5
98.7
102.3
100.8
97.2
102.8
101.4
97.0
103.5
102.7
97.1
104.6
103.5
97.5
105.8
104.3
98.0
106.7
103.8
97.3
107.6
103.2
96.7
108.5
102.9
95.8
109.4
103.1
95.7
110.2
102.7
95.3
110.8
102.4
96.2
111.8
6
7
100.0
97.5
97.4
95.8
101.4
100.0
99.3
99.3
98.7
97.2
97.0
97.1
97.5
98.0
97.3
96.7
95.8
95.7
95.3
96.2
8
9
100.0
100.0
97.5
103.3
97.4
107.4
95.8
110.9
101.4
98.4
100.0
99.3
99.3
100.7
99.3
101.6
98.7
102.2
97.2
102.9
97.0
103.6
97.1
104.7
97.5
105.9
98.0
106.9
97.3
107.8
96.7
108.8
95.8
109.6
95.7
110.5
95.3
111.2
96.2
112.3
III
IV
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 7.9.—Fixed-Weighted Price Indexes for Personal Consumption Expenditures by Major Type of Product, 1982 Weights
[Index numbers, 1982-100]
Seasonally adjusted
Line
Personal consumption
expenditures.
Durable goods
Motor vehicles and parts
Furniture and household
equipment.
Other
Nondurable goods
Food . .
Clothing and shoes
Gasoline and oil
Other nondurable goods
Fuel oil and coal
Other
Services
Housing
... .
Household operation
Electricity and gas
Other
Transportation
Medical care
Other
1982
1983
1984
1982
1985
I
II
III
IV
I
1985
1984
1983
II
III
IV
I
II
III
IV
I
II
1
100.0
104.0
108.5
112.2
98.3
99.1
100.7
101.8
102.4
103.5
104.4
105.6
106.9
107.9
109.0
110.0
110.7
111.8
112.5
113.8
2
3
4
100.0
100.0
100.0
102.2
102.8
101.1
104.1
106.2
101.1
105.1
108.3
100.5
98.9
98.6
99.1
99.9
100.0
100.0
100.4
100.7
100.2
100.7
100.7
100.7
101.4
101.6
100.8
101.7
102.0
100.9
102.5
103.0
101.2
103.3
104.6
101.5
103.5
105.2
101.3
104.1
106.2
101.2
104.2
106.6
100.9
104.5
106.9
101.1
105.2
108.2
101.0
105.2
108.3
100.6
104.9
108.0
100.0
105.2
108.6
100.3
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
102.9
102.1
101.9
101.9
96.7
105.8
94.0
107.4
105.8
105.8
106.7
108.0
105.6
105.8
106.4
105.0
104.9
105.6
106.9
103.2
95.2
109.8
96.1
111.6
111.7
111.5
112.2
112.5
112.1
109.6
113.4
111.0
106.8
108.0
109.0
106.3
96.0
113.4
92.7
116.2
117.1
118.4
115.8
114.7
116.9
113.1
120.1
115.0
99.3
99.2
99.2
99.5
102.4
97.3
99.6
97.0
97.4
97.8
96.5
96.1
97.0
97.1
97.1
97.9
99.6
99.2
99.9
100.0
96.2
98.7
96.9
99.0
98.9
98.9
99.1
98.8
99.3
98.9
98.9
98.9
100.3
100.5
100.3
100.2
101.3
100.6
100.0
100.7
100.8
100.8
100.9
100.7
101.2
101.1
101.2
100.7
100.9
101.0
100.6
100.2
100.1
103.3
103.5
103.3
102.7
102.6
103.5
104.5
102.5
102.9
102.8
102.5
101,8
100.8
100.9
100.6
93.9
104.3
95.5
105.5
103.9
103.9
105.5
106.3
104.7
104.2
104.0
103.1
102.5
101.9
101.8
101.5
97.1
105.2
93.0
106.8
105.1
105.0
106.7
107.9
105.4
104.4
105.6
104.2
103.5
102.5
101.8
102.6
98.7
106.5
94.0
108.2
106.3
106.4
107.0
108.4
105.5
107.1
106.9
105.4
103.9
103.3
103.2
102.7
97.4
107.2
93.6
109.0
107.8
107.8
108.0
109.3
106.7
107.3
108.9
107.2
104.1
104.8
105.9
102.7
96.4
108.3
97.4
109.8
109.4
109.0
110.2
109.9
110.5
108.0
110.7
108.8
104.9
105.1
106.1
102.2
96.5
109.4
97.9
110.9
111.0
110.7
111.5
111.5
111.4
109.0
112.7
110.4
105.2
105.7
107.3
103.1
93.4
110.5
95.2
112.5
112.7
112.4
113.8
114.7
112.8
110.8
114.3
111.9
105.3
106.8
108.4
104.8
94.7
111.0
93.8
113.3
113.8
113.9
113.9
114.0
113.8
110.6
116.0
112.8
106.1
106.8
108.4
105.3
93.2
111.7
91.3
114.4
115.0
115.3
114.4
114.3
114.5
111.8
117.9
113.7
106.8
107.7
108.4
106.0
97.8
113.0
93.4
115.6
116.4
117.3
115.8
115.4
116.3
111.8
119.6
114.6
107.3
107.9
108.6
106.0
96.8
113.9
90.8
116.9
117.8
119.5
116.8
115.7
118.0
113.1
120.7
115.4
106.9
109.4
110.5
107.7
96.5
115.2
95.5
117.8
119.1
121.5
116.1
113.7
118.7
115.6
122.2
116.4
Table 7.10.—Fixed-Weighted Price Indexes for Personal Consumption
Expenditures by Type of Product, 1982 Weights
Table 7.11.—Implicit Price Deflators for Personal Consumption
Expenditures
[Index numbers, 1982=100]
[Index numbers, 1982=100]
1982
1983
1984
8
9
10
. . 11
12
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
104.0
102.2
102.8
102.6
109.2
102.7
97.5
101.1
102.5
102.9
101.9
97.7
108.5
104.1
106.2
105.5
121.2
105.7
93.9
101.1
104.5
103.2
102.1
94.2
13
14
15
16
100.0
100.0
100.0
100.0
102.5
102.9
103.7
101.8
104.9
104.9
106.8
104.0
17
18
19
20
21
22
23
100.0
100.0
100.0
100.0
100.0
100.0
100.0
101.6
107.8
102.1
101.9
100.9
104.5
104.4
102.3
110.5
105.6
106.9
106.0
109.1
108.8
24
25
100.0
100.0
101.6
103.6
106.9
105.6
26
27
28
29
100.0
100.0
100.0
100.0
104.9
101.9
100.7
101.8
110.5
103.2
101.9
102.9
30
100.0
102.7
104.6
31
32
33
34
35
36
37
100.0
100.0
100.0
100.0
100.0
100.0
100.0
96.7
94.0
107.4
119.5
105.9
106.6
103.3
95.2
96.1
111.6
127.3
109.5
110.6
105.7
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
108.7 116.6
99.5
100.1
104.4 107.2
97.2 100.9
105.4 108.1
105.8 111.7
105.8 111.5
106.1 111.6
106.2 112.7
98.8 102.0
105.3 113.0
106.7 112.2
103.2 109.8
116.7 117.5
108.3 115.4
106.4 115.4
100.5 101.4
104.2 107.6
105.8 109.6
106.1 108.8
102.5 107.6
103.6 110.9
101.6 104.6
106.0 112.5
107.4 113.5
109.1 118.4
105.8 112.1
104.8 111.3
106.4 113.4
107.7 115.2
106.7 115.4
106.1 110.8
106.7 113.1
98.9 109.9
105.0 111.0
105.0 110.1
105.3 110.9
104.7 109.2
105.4 110.8
107.1 116.4
96.1
97.8
113.5 123.9
100.0
105.2
118.8
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
108.8
104.0
107.0
103.4
104.3
106.0
103.8
102.6
103.0
75.8
116.7
108.4
114.3
107.5
108.1
112.3
105.2
106.0
106.6
42.6
line
Personal consumption expenditures . .
Durable goods.. .
...
)
3
4
>
}
Motor vehicles and parts
New autos (65)
Net purchases of used autos (66)
Other motor vehicles (67)
Tires, tubes, accessories, and other parts (68)
Furniture and household equipment
Furniture, including mattresses and bedsprings (29)
Kitchen and other household appliances (30)
China, glassware tableware, and utensils (31)
Radio and television receivers, records, and musical
instruments (87).
Other durable house furnishings (32)
Other
Ophthalmic products and orthopedic appliances (46)
Wheel goods, durable toys, sports equipment, boats, and
pleasure aircraft (86).
Jewelry and watches (18)
Books and maps (83)
..
Nondurable goods
Food
. .
.
Food purchased for off-premise consumption (3)
Purchased meals and beverages (4)
Food furnished employees (including military) and food
produced and consumed on farms (5+6).
Addenda* Food excluding alcoholic beverages (8)
. .
Alcoholic beverages purchased for off-premise
consumption (9).
Other alcoholic beverages (10)
Clothing and shoes
Shoes (12)
Women's and children's clothing and accessories except shoes
(14).
Men's and boys' clothing and accessories except shoes
(15+16).
Gasoline and oil (70)
Fuel oil and coal (40)
Other
Tobacco products (7)
Toilet articles and preparations (21)
Semidurable house furnishings (33)
Cleaning and polishing preparations, and miscellaneous
household supplies and paper products (34).
Drug preparations and sundries (45)
Nondurable toys and sport supplies (85)
Stationery and writing supplies (35)
....
Net foreign remittances (105 less 107)
Other (84+89)
38
39
40
41
42
43
Services
44
Mousing
45
Owner-occupied nonfarm dwellings—space rent (24)
46
Tenant-occupied nonfarm dwellings— rent (25)
47
Rental value of farm dwellings (26)
48
Other (27)
49
Household operation
50
Electricity (37)
51
Gas (38)
52
Water and other sanitary services (39)
53
Telephone and telegraph (41)
54
Domestic service (42)
55
Other (43)
56
57
User-operated transportation (69+71+72)
58
59
Transit systems (74)
60
Other (75+76)
61
62
Railway (excluding commutation) (78)
63
Bus (79)
64
Airline (80)
65
Other (81)
66
67
Physicians (47)
68
Dentists (48)
69
70
Privately controlled hospitals and sanitariums (50)
71
72
Other
73
74
Cleaning, storage, and repair of clothing and shoes (17)
Barbershops, beauty parlors, baths, and health clubs (22) ..... 75
76
Other (19)
77
78
Brokerage charges and investment counseling (56)
79
Bank service charges, trust services, and safe deposit box
rental (57).
80
Services furnished without payment by financial
intermediaries except life insurance carriers and private
noninsured pension plans .
Other (59+60+61+62)
» 81
82
83
Admissions to specified spectator amusements (90)
84
Other (88+94+95+96+97)
85
Private education and research
86
Higher education (99)
87
Elementary and secondary schools (100)
88
Other (101)
89
Religious and welfare activities (102)
90
Net foreign travel (104 less 106)
NOTE —The figures in parentheses are the line numbers of the corresponding items in table
2.4.
Year and
month
1982
1983
1984
Personal
consumption
expenditures
Durable goods
Nondurable goods
Services
1985
1000
1039
1082
1116
1000
1021
1039
1047
1000
1020
1054
1077
1000
1057
111 5
1168
1982
January
February
March . .
April.
May
June
July
August
September
October
.
November
December
98.1
98.3
984
98.5
991
99.8
1004
100.6
101.0
101.5
101.9
102.1
98.7
98.9
99 1
994
1000
1003
1005
100.4
100.3
100.8
100.6
100.8
99.3
99.3
990
98.5
991
100.2
1006
100.4
100.5
100.9
101.2
101.1
97.1
97.4
978
98.2
990
99.5
1003
100.8
101.4
102.2
102.8
103.2
102.3
102.3
1024
103.1
1034
1037
1039
1043
104.7
105.0
105.4
105.7
101.0
101.4
1016
101.6
1015
1018
101 9
1024
102.7
102.8
103.2
103.3
101.0
100.4
1007
101.5
102 0
1021
1022
1024
102.7
102.9
103.0
103.4
103.7
104.0
104 0
104.7
1050
1054
105.8
1061
106.8
107.3
107.9
108.1
August
September
October
November
December
106.3
106.7
107.0
1074
1076
1079
1082
1088
109.1
109.4
109.7
109.9
103.3
103.5
103.5
1039
1039
1039
1039
1039
104.5
103.6
104.7
104.4
104.3
104.6
104.8
1050
1048
104 8
1050
1056
105.8
106.3
106.5
106.8
108.7
109.3
109.7
1103
1108
111 5
1120
112 5
113.0
113.3
113.6
113.8
1985
January
February
March
April
May . .
June
July
August
September
October
November
December
109.9
110.3
1108
111.0
1113
1115
1117
111.8
112.1
112.5
113.1
113.5
104.2
105.1
1055
104.4
1052
1046
1044
104.8
104.6
104.3
104.4
104.5
106.3
106.5
107 2
107.5
1075
107 5
1075
107.5
107.8
108.3
109.1
109.8
114.3
114.8
1152
115.6
1162
116 6
1170
117.4
117.9
118.3
118.8
119.1
1983
January
February
March .
April
May
J y
June
July
August
September
October
November
December
1984
January
February
March
April
May
" y
June
July
109
SURVEY OF CURRENT BUSINESS
March 1986
Table 7.12.—Fixed-Weigh ted Price Indexes for Purchases of Structures
by Type, 1982 Weights
Table 7.13.—Fixed-Weighted Price Indexes for Private Purchases of
Producers' Durable Equipment by Type, 1982 Weights
[Index numbers, 1982=100]
[Index numbers, 1982=100]
Purchases of structures
Private
.
.
Nonresidential
.. ..
..
. . ..
New
Nonresidential buildings excluding farm
Industrial
Commercial
.
Religious, educational, hospital and institutional, and
other '.
Public utilities
Railroads
Telephone and telegraph
Electric light and power
Gas
Petroleum pipelines
Farm
Mining exploration shafts arid wells
Petroleum and natural gas.
Other
Other 2
.
Brokers' commissions on sale of structures
Net purchases of used structures
Residential
New
Nonfarm
Structures
•
Additions and alterations
Other 3
Farm
.
Brokers' commissions on sale of structures
Net purchases of used structures
Government structures and new construction force-account
compensation.
New
.
Buildings excluding military
Residential
.
Industrial educational hospital and other 4
Highways and streets
.
Conservation and development
Sewer and water systems
Sewer systems
Other 5
etpurc aseso
.
.
•• ••
Line
1982
1983
1984
1
2
100.0
100.0
3
4
5
6
7
8
100.0
100.0
1000
100.0
100.0
100.0
99.6
99.3
97.2
97.2
1038
103.7
103.8
103.8
102.7
102.3
99.3
99.3
108.9
108.9
108.9
108.8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
100.0
100.0
1000
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
104.9
103.0
105.4
105.6
102.7
102.7
108.8
78.0
75.7
108.8
102.5
108.8
107.9
106.5
106.5
106.5
106.6
100.9
107.1
107.3
107.0
106.0
31
32
100.0
100.0
102.9
100.3
1035
103.4
101.4
101.3
103.8
81.2
79.5
103.8
99.7
103.7
1036
102.3
102.3
102.3
102.0
1009
102.8
103.6
102.0
102.8
102.0
102.0
33
100.0
101.1
104.8
34
35
36
37
100.0
100.0
100.0
1000
1000
1000
100.0
100.0
1000
1000
100.0
1000
101.1
101.1
101.9
1038
104.7
104.7
106.6
1088
982
1010
1012
102.2
1024
1019
100.5
1021
102.1
1054
102.6
104.8
105.2
1040
102.8
1066
38
39
40
41
42
43
44
45
106.5
106.6
1. Consists of hotels and motels, buildings used primarily for social and recreational activities,
and buildings not elsewhere classified, such as passenger terminals, greenhouses, and animal
hospitals.
2. Consists of streets, dams and reservoirs, sewer and water facilities, parks, airfields, etc.
3. Consists of dormitories, fraternity and sorority houses, nurses' homes, etc.
4. Consists of general office buildings, police and fire stations, courthouses, auditoriums,
garages, passenger terminals, etc.
5. Consists of electric and gas facilities, transit systems, airfields, etc.
Private purchases of producers' durable equipment
Nonresidential equipment
Information processing and related equipment
Office, computing, and accounting machinery
Communication equipment
Instruments
Photocopy and related equipment
Industrial equipment . . .
Fabricated metal products
Engines and turbines
Metalworking machinery
Special industry machinery, n e.c . . .
.' .
General industrial, including materials handling, equipment....
Electrical transmission, distribution, and industrial
apparatus.
Transportation and related equipment
Trucks, buses, and truck trailers
Autos
Aircraft
Ships and boats
Railroad equipment . . .
Other equipment
Furniture and fixtures
Tractors
Agricultural machinery, except tractors
Construction machinery, except tractors
Mining and oilfield machinery
Service industry machinery
Electrical equipment, n.e.c . . . .
Other
Less: Sale of equipment scrap, excluding autos
Residential equipment
n.e.c. Not elsewhere classified.
Line
1982
1983
1
100.0
2
3
4
5
6
7
1000
101.5 101.9
101 5 101 8
1000
1000
1000
1000
888
1066
1045
1001
78.6
1103
1081
965
8
9
10
11
12
13
14
100.0
1000
1000
1000
100.0
100.0
100.0
1032
1024
1034
102.2
103.9
101.1
1030
1040
1065
103.0
106.6
15
16
17
18
19
20
100.0
1000
1000
1000
1000
103.9
936
1022
1020
1020
107.8
836
1047
1038
1028
1000
1000
1000
100.0
1000
1044
1063
1058
104 1
1000
1030
1035
1037
1107
1080
1087
1094
1066
989
1046
1068
1070
102 4
103 1
21
22
23
24
25
26
27
28
29
30
31
1000
1000
100.0
100.0
1000
1984
123.7
110
SURVEY OF CURRENT BUSINESS
March 1986
Table 7.14.—Fixed-Weighted Price Indexes for Exports and Imports of Goods and Services, 1982 Weights
[Index numbers, 1982=100]
Seasonally adjusted
Line
1982
1983
1984
1985
1982
I
Exports of goods and services- 1
II
1983
III
IV
I
II
1984
III
IV
I
II
1985
III
IV
I
II
III
IV
100.0
101.6
104.6
104.4
99.7
100.1
100.1
100.0
100.6
101.0
101.7
103.2
104.0
105.1
104.8
104.4
104.4
104.6
104.2
104.2
Merchandise .
Durable goods
Nondurable goods
2
3
4
100.0
100.0
100.0
99.8
99.5
100.2
102.1
101.1
103.3
99.2
101.0
96.9
101.1
99.4
103.3
100.7
100.1
101.4
99.5
100.4
98.4
98.7
100.4
96.5
99.0
100.1
97.5
99.1
99.3
98.7
99.8
99.2
100.6
101.5
99.7
103.9
102.1
100.4
104.2
103.3
101.4
105.8
102.1
101.4
103.1
100.9
101.3
100.3
100.2
101.1
98.9
100.0
101.3
98.2
98.7
100.9
95.9
98.1
101.8
94.5
Services
Factor income
Other
5
6
7
100.0
100.0
100.0
104.2
104.2
104.2
108.2
109.0
106.8
111.8
113.2
109.3
97.8
98.0
97.6
99.4
99.3
99.5
100.9
100.9
101.0
102.0
101.9
102.1
102.8
102.7
103.2
103.7
103.6
103.8
104.5
104.5
104.6
105.7
105.9
105.4
106.9
107.4
106.0
107.7
108.5
106.4
108.7
109.6
107.1
109.5
110.7
107.5
110.4
111.7
108.2
111.4
112.8
109.0
112.2
113.6
109.7
113.1
114.6
110.4
Imports of goods and services- 8
Merchandise
Durable goods
Nondurable goods
.. .
Services . . . .
Factor income
Other
100.0
97.7
97.6
96.0
101.4
100.0
99.3
99.3
98.7
97.4
97.5
97.5
97.7
98.1
97.6
97.1
95.9
95.9
95.5
96.8
9
10
11
100.0
100.0
100.0
96.2
98.3
94.0
95.5
97.1
93.9
92.7
95.2
90.1
102.0
101.3
102.7
100.0
100.6
99.3
99.1
99.3
99.0
98.9
98.7
99.0
97.8
98.9
96.6
96.0
98.8
93.1
95.9
98.0
93.8
95.7
97.9
93.4
95.8
97.8
93.8
96.3
97.8
94.8
95.4
96.8
94.0
94.6
96.1
93.1
92.9
94.6
91.3
92.7
94.6
90.8
91.9
94.9
89.0
93.2
96.6
89.7
12
13
14
100.0
100.0
100.0
102.0
104.2
100.3
103.7
108.8
99.8
105.8
112.8
100.3
99.8
98.1
101.2
99.9
99.3
100.4
99.9
100.8
99.1
100.7
101.8
99.8
101.4
102.6
100.5
101.7
103.5
100.2
102.0
104.4
100.1
102.7
105.8
100.3
103.2
107.2
100.1
103.5
108.2
99.9
103.9
109.3
99.8
104.3
110.3
99.5
104.4
111.3
99.1
105.3
112.4
99.7
106.0
113.3
100.3
107.4
114.3
102.0
Table 7.15.—Fixed-Weighted Price Indexes for Merchandise Exports and Imports by Type of Product and by End-Use-Category, 1982 Weights
[Index numbers, 1982=100]
Seasonally adjusted
Line
1982
1983
1984
1985
I
II
III
IV
I
II
1985
1984
1983
1982
III
IV
I
II
III
IV
I
II
III
IV
1
100.0
99.8
102.1
99.2
101.1
100.7
99.5
98.7
99.0
99.1
,99.8
101.5
102.1
103.3
102.1
100.9
100.2
100.0
98.7
98.1
2
3
100.0
100.0
104.3
97.2
107.5
100.2
95.5
95.7
105.0
102.3
102.5
101.2
97.4
98.7
94.3
97.4
98.3
96.8
101.3
96.6
105.7
96.8
112.2
98.6
111.5
99.5
112.6
101.7
106.3
100.5
100.4
99.3
98.9
97.5
98.6
96.1
94.9
94.1
89.9
95.0
4
5
6
7
8
9
10
11
12
13
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
97.2
97.2
98.9
103.6
99.7
99.6
99.9
100.8
100.8
100.8
100.2
100.3
100.0
107.1
100.5
96.7
103.4
103.6
103.6
103.6
95.7
95.7
100.8
109.6
99.9
94.3
104.3
101.3
101.3
101.3
102.3
102.3
98.8
98.1
102.1
99.6
104.2
101.1
101.1
101.1
101.2
101.2
100.0
99.8
98.7
98.7
98.8
100.7
100.7
100.7
98.7 . 97.4
98.7
97.4
100.7 100.9
100.8 101.6
100.3
99.1
101.4 100.6
99.4
97.9
99.7
98.7
98.7
99.7
99.7
98.7
96.8
96.8
100.2
102.1
99.2
102.0
96.9
99.3
99.3
99.3
96.6
96.6
99.1
102.7
99.6
99.5
99.6
99.9
99.9
99.9
96.8
96.8
98.3
104.2
,100.4
99.1
101.5
100.9
100.9
100.9
98.6
98.6
98.5
105.2
99.8
97.7
101.5
102.8
102.8
102.8
99.5
99.5
99.2
106.1
100.5
97.8
102.6
103.5
103.5
103.5
101.7
101.7
99.9
107.2
100.8
97.7
103.3
104.7
104.7
104.7
100.5
100.5
100.3
107.7
100.6
96.2
104.0
103.7
103.7
103.7
99.3
99.3
100.8
107.2
100.0
95.2
103.8
102.4
102.4
102.4
97.5
97.5
100.9
107.7
99.6
94.0
104.0
101.9
101.9
101.9
96.1
96.1
101.2
109.4
99.7
93.9
104.2
102.0
102.0
102.0
94.1
94.1
100.7
110.6
100.1
94.5
104.5
101.0
101.0
101.0
95.0
95.0
100.4
110.7
100.2
94.6
104.6
100.3
100.3
100.3
Merchandise imports
14
100.0
96.2
95.5
92.7
102.0
100.0
99.1
98.9
97.8
96.0
95.9
95.7
95.8
96.3
95.4
94.6
92.9
92.7
91.9
93.2
Foods, feeds, and beverages
Industrial supplies and
materials, excluding
petroleum.
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except autos
Autos
Consumer goods
Durable goods..
Nondurable goods
Other
Durable goods
Nondurable goods
15
16
100.0
100.0
99.3
94.9
101.9
93.7
97.8
87.4
101.7
103.4
100.0
101.3
98.3
98.4
100.4
96.8
97.8
95.9
99.0
95.4
100.1
95.6
100.2
93.1
100.9
94.4
103,4
95.1
103.4
93.3
99.9
92.1
99.2
88.7
97.8
88.0
96.4
87.3
97.7
85.7
17
18
19
20
21
22
23
24
25
26
27
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
95.0
94.8
90.6
96.2
102.2
98.9
99.3
98.4
98.5
98.5
98.5
93.7
93.7
88.9
92.3
104.6
99.5
97.1
103.0
98.5
98.5
98.5
87.4
87.4
84.4
88.7
107.1
99.7
95.9
105.2
96.8
96.8
96.8
103.3
103.6
103.5
101.1
100.3
100.6
100.9
100.2
101.5
101.5
101.5
101.1
101.5
97.9
100.6
100.4
100.5
100.6
100.5
100.6
100.6
100.6
98.3
98.5
99.1
99.5
99.3
99.9
99.8
100.0
99.1
99.1
99.1
96.8
96.8
99.5
98.6
100.0
99.0
98.8
99.3
98.6
98.6
98.6
96.1
95.7
96.0
98.3
101.1
99.2
99.9
98.2
98.5
98.5
98.5
95.6
95.3
88.8
97.3
102.0
99.0
99.8
97.8
98.7
98.7
98.7
95.7
95.5
89.7
95.5
101.7
98.5
98.8
98.2
98.6
98.6
98.6
93.1
93.0
89.6
94.9
103.8
99.0
98.8
99.3
98.4
98.4
98.4
94.4
94.3
89.4
94.3
103.7
99.1
98.0
100.6
98.7
98.7
98.7
95.2
95.1
89.8
93.2
104.5
99.7
97.9
102.3
99.2
99.2
99.2
93.3
93.3
88.6
91.7
104.6
99.6
96.8
103.6
98.4
98.4
98.4
92.1
92.1
87.8
90.4
105.4
99.7
95.8
105.3
97.8
97.8
97.8
88.7
88.8
85.8
88.2
105.0
99.3
95.2
105.0
96.3
96.3
96.3
88.0
88.0
85.8
88.1
105.8
98.8
95.1
104.1
96.2
96.2
96.2
87.3
87.3
82.4
88.6
106.3
99.7
95.6
105.5
96.6
96.6
96.6
85.7
85.7
83.9
89.8
110.7
101.0
97.6
105.9
98.1
98.1
98.1
Merchandise exports
Foods, feeds, and beverages.........
Industrial supplies and
materials.
Durable goods
Nondurable goods
....
Capital goods, except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
111
SURVEY OF CURRENT BUSINESS
March 1986
Table 7.16.—Fixed-Weighted Price Indexes for Government Purchases of Goods and Services by Type, 1982 Weights
[Index numbers, 1982=100]
Seasonally adjusted
Line
Government purchases
of goods and services.
Federal
National defense
Durable goods
Nondurable goods
Services
Compensation of
employees.
Military
Civilian
Other services
Structures
.
.
1983
1984
1982
1985
1983
I
II
III
IV
1
100.0
104.7
109.6
114.6
98.1
99.4
100.5
102.0
. 2
100.0
104.2
107.9
99.6
100.0
100.0
100.0
100.0
100.0
100.0
103.8
104.9
92.9
105.1
105.0
107.6
108.9
89.8
109.7
109.8
111.2
111.7
111.0
89.6
114.4
115.1
98.7
3
4
5
6
7
98.5
98.2
101.1
98.2
98.1
99.6
99.4
100.1
99.4
99.4
100.1
101.1
98.9
99.9
99.7
8
9
10
11
100.0
100.0
100.0
100.0
105.1
104.8
105.3
101.2
109.8
109.8
109.5
105.5
115.2
114.8
113.1
108.5
97.7
99.0
98.3
101.0
99.5
99.2
99.5
100.3
12
13
14
15
100.0
100.0
105.0
96.7
108.6
97.8
109.9
99.0
99.2
99.1
16
17
18
100.0
100.0
100.0
99.1
104.6
104.7
100.8
109.0
109.6
100.7
113.5
114.8
19
20
100.0
100.0
104.5
101.3
108.1
103.9
111.5
107.3
. 21
22
23
24
25
100.0
105.1
110.8
100.0
100.0
100.0
100.0
102.2
97.8
106.8
106.9
104.3
99.0
113.5
113.8
26
27
100.0
100.0
106.2
100.9
112.5
104.6
Nondefense
Durable goods
Nondurable goods
Commodity Credit
Corporation inventory
change.
Other nondurables
Services
Compensation of
employees.
Other services
Structures
State a n d local
1982
.
Durable goods . .
Nondurable goods
Services
Compensation of
employees.
Other services
Structures
I
II
1985
1984
III
IV
I
I
III
IV
109.3
109.9
111.0
112.7
II
III
IV
113.8
114.8
116.5
II
103.1
104.2
105.2
106.3
108.0
101.7
102.7
103.8
104.5
105.6
107.2
108.1
107.8
108.4
109.9
110.1
110.6
112.2
101.8
101.3
100.0
102.5
102.8
102.4
103.0
95.8
103.4
103.7
103.7
104.0
92.3
104.9
104.7
104.1
105.5
92.0
105.8
105.4
105.1
107.1
91.7
106.5
106.4
106.7
107.4
88.1
109.3
109.6
107.8
109.2
90.8
109.6
109.7
107.5
109.1
90.7
109.6
109.9
108.3
110.0
89.8
110.5
110.3
110.2
111.4
89.0
113.2
113.9
110.5
110.2
90.1
113.8
114.4
111.1
111.3
90.0
114.2
114.5
113.1
111.1
89.6
116.5
117.6
99.8
99.5
100.3
99.8
103.0
102.3
102.0
99.0
103.4
104.3
102.9
101.3
104.8
104.6
105.2
100.2
105.6
105.0
106.5
101.8
106.8
105.5
106.6
101.7
109.7
109.3
108.7
103.2
109.7
109.7
109.4
105.4
109.9
109.9
109.1
106.3
110.1
110.6
110.9
107.4
114.0
113.8
111.7
108.1
114.3
114.5
112.8
108.2
114.2
115.0
113.6
108.4
118.5
115.9
114.3
109.5
99.7
100.5
99.7
100.8
101.4
99.6
103.3
97.6
104.1
96.7
105.7
96.4
106.9
96.4
108.3
96.6
108.8
97.8
108.7
98.6
108.5
98.3
109.8
98.7
109.9
98.8
109.5
99.1
110.2
99.4
99.9
98.4
98.9
100.0
99.3
99.2
99.3
100.1
99.6
100.8
102.3
102.3
100.0
103.8
104.2
97.5
104.5
104.5
99.4
104.8
104.9
99.5
105.6
105.4
99.4
108.3
109.1
100.4
108.8
109.5
101.5
109.2
109.7
102.0
110.0
110.4
102.1
112.6
113.8
101.3
113.3
114.5
99.8
113.7
115.0
99.8
114.5
115.9
97.7
99.1
99.3
99.9
100.8
100.3
102.2
100.7
103.2
101.1
104.4
100.9
104.7
101.6
105.9
101.9
107.0
102.7
107.7
103.6
108.5
104.2
109.3
105.1
110.7
105.9
111.4
107.1
111.7
108.0
112.2
108.3
117.2
97.7
99.2
100.9
102.2
103.3
104.4
105.7
106.8
108.6
110.1
111.4
112.9
114.7
116.5
117.9
119.6
106.4
99.4
120.9
121.6
98.7
100.1
96.9
96.9
99.6
99.5
99.1
99.0
100.5
100.3
101.1
101.2
101.1
100.1
102.9
103.0
101.5
96.9
104.6
104.7
101.9
97.5
106.1
106.2
102.4
98.5
107.4
107.6
102.9
98.4
108.9
109.0
103.7
99.6
111.0
111.1
104.1
99.4
112.7
112.9
104.6
98.3
114.4
114.6
104.8
98.8
116.0
116.4
105.7
98.6
118.1
118.6
106.3
99.6
120.0
120.6
106.4
98.1
121.8
122.6
107.3
101.4
123.6
124.5
117.5
111.1
97.2
100.6
99.3
100.1
100.8
99.9
102.6
99.6
104.2
100.7
105.3
100.3
106.8
101.4
108.4
101.5
110.2
102.5
111.8
104.1
113.5
105.2
114.4
106.7
115.7
108.4
116.9
110.8
118.2
112.2
119.3
112.7
III
IV
Table 7.17.—Fixed-Weighted Price Indexes for National Defense Purchases of Goods and Services, 1982 Weights
[Index numbers, 1982=100]
Seasonally adjusted
Line
National defense
purchases.
Durable goods
1982
1983
1
100.0
103.8
1984
1982
1985
107.6
111.7
I
II
III
IV
98.5
99.6
100.1
101.8
102.4
I
I
III
IV
103.7
104.1
105.1
106.7
II
1985
1984
1983
II
III
IV
107.8
107.5
108.3
110,2
110.5
111.1
113.1
II
I
2
100.0
104.9
108.9
111.0
98.2
99.4
101.1
101.3
103.0
104.0
105.5
107.1
107.4
109.2
109.1
110.0
111.4
110.2
111.3
111.1
Military equipment
Aircraft
Missiles
Ships
Vehicles
Electronic equipment
Other
. . .
Other durable goods
3
4
5
6
7
8
9
10
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
105.8
111.9
103.2
102.8
92.5
102.4
102.3
100.4
110.4
122.3
106.1
108.4
77.4
104.0
101.9
102.1
112.6
124.4
107.8
113.0
73.1
104.9
106.6
103.6
98.0
95.6
99.3
98.8
103.7
99.9
99.1
99.1
99.3
99.1
98.8
99.5
100.1
99.7
99.5
99.7
101.3
102.4
101.0
100.7
99.0
100.2
100.4
100.5
101.5
102.9
100.9
101.1
97.8
100.3
101.0
100.7
103.5
107.1
100.9
102.4
94.1
101.4
102.6
100.5
104.7
109.7
102.6
102.8
90.9
102.2
102.7
100.6
106.7
114.6
102.6
102.8
92.7
102.4
101.0
99.9
108.4
116.4
106.9
103.2
92.5
103.6
103.0
100.8
108.8
117.5
106.2
106.9
86.7
103.2
101.7
101.4
110.7
123.8
105.2
107.5
79.7
103.5
100.8
102.3
110.6
124.0
105.9
108.5
71.7
104.0
101.1
102.4
111.7
124.2
107.3
111.0
71.8
105.3
104.1
102.6
113.0
125.6
108.3
112.7
72.0
105.3
106.4
103.9
111.7
121.9
108.4
113.3
71.3
105.1
107.2
103.5
113.0
125.0
107.8
113.0
74.5
104.7
107.1
103.7
112.8
125.2
107.0
113.1
74.9
104.8
105.7
103.5
Nondurable goods
Petroleum products
Ammunition
Other nondurable goods
11
100.0
92.9
89.8
89.6
101.1
100.1
98.9
100.0
95.8
92.3
92.0
91.7
88.1
90.8
90.7
89.8
89.0
90.1
90.0
89.6
12
13
14
100.0
100.0
100.0
88.6
104.3
99.2
82.3
106.7
104.1
79.2
114.2
108.4
102.6
96.5
99.6
100.3
99.2
99.8
98.0
101.4
100.2
99.1
103.0
100.4
93.0
104.0
99.0
87.3
105.3
100.0
87.5
104.1
98.6
86.8
104.1
99.2
81.6
101.9
101.6
84.2
104.4
104.7
82.8
109.2
105.1
80.9
111.6
105.0
78.4
113.6
108.1
79.7
114.4
109.0
80.0
114.4
107.5
78.9
114.5
109.1
Services
Compensation of employees
Military
Civilian
Other services
Contractual research and
development.
l
Installation support
Weapons support 2 3
Personnel support
Transportation of materiel ..
Travel of persons
Other
15
16
17
18
19
20
100.0
100.0
100.0
100.0
100.0
100.0
105.1
105.0
105.1
104.8
105.3
105.9
109.7
109.8
109.8
109.8
109.5
109.8
114.4
115.1
115.2
114.8
113.1
112.0
98.2
98.1
97.7
99.0
98.3
97.3
99.4
99.4
99.5
99.2
99.5
98.4
99.9
99.7
99.8
99.5
100.3
100.7
102.5
102.8
103.0
102.3
102.0
103.6
103.4
103.7
103.4
104.3
102.9
104.3
104.9
104.7
104.8
104.6
105.2
105.9
105.8
105.4
105.6
105.0
106.5
105.8
106.5
106.4
106.8
105.5
106.6
107.8
109.3
109.6
109.7
109.3
108.7
108.9
109.6
109.6
110.5
113.2
113.8
114.2
116.5
109.7
109.7
109.7
109.4
109.1
109.9
109.9
109.9
109.1
110.0
110.3
110.1
110.6
110.9
111.4
113.9
114.0
113.8
111.7
112.5
114.4
114.3
114.5
112.8
111.2
114.5
114.2
115.0
113.6
112.1
117.6
118.5
115.9
114.3
112.4
21
22
23
24
25
26
100.0
100.0
100.0
100.0
100.0
105.6
107.8
104.5
96.8
105.4
113.1
111.0
105.9
99.0
105.3
118.6
113.2
108.0
104.9
110.6
98.5
96.3
99.0
103.7
100.0
100.0
98.1
99.7
103.7
100.6
101.2
100.8
99.5
95.6
99.2
100.3
104.8
101.8
97.0
100.3
101.3
107.2
103.8
96.2
98.9
104.4
107.2
104.2
97.3
111.4
109.4
108.0
105.4
98.4
105.4
107.6
109.1
104.6
95.3
105.9
112.3
110.4
105.4
97.2
105.3
114.1
110.0
107.0
98.5
104.6
111.5
111.2
105.5
99.3
105.5
114.7
112.5
105.9
101.3
105.8
115.0
113.1
104.4
103.3
109.4
118.8
113.4
107.4
104.5
110.3
120.1
113.2
107.4
105.9
111.5
120.7
113.2
113.0
106.0
111.5
27
100.0
101.2
105,5
108.5
101.0
100.3
99.8
99.0
101.3
100.2
101.8
101.7
103.2
105.4
106.3
107.4
108.1
108.2
108.4
28
29
100.0
100.0
100.9
101.6
105.3
105.9
108.2
109.0
101.2
100.6
100.3
100.2
99.5
100.2
99.0
99.0
101.2
101.5
100.2
100.0
101.3
102.6
101.1
102.5
103.1
103.3
104.9
106.1
105.9
106.9
107.5
107.3
108.4
107.6
108.0
108.5
107.6
109.6
109.5
108.8
110.5
Structures
Military facilities
Other
1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors to operate installations.
2. Includes depot maintenance and contractual services for weapons systems.
3. Includes compensation of foreign personnel, consulting, training, and education.
112
SURVEY OF CURRENT BUSINESS
March 1986
Table 7.18.—Current-Dollar Cost and Profit per Unit of Constant-Dollar Gross Domestic Product of Nonfmancial Corporate Business
[Dollars]
Seasonally adjusted
Line
Current-dollar cost and
profit per unit of
constant-dollar gross
domestic product V
Capital consumption
allowances with capital
consumption adjustment.
Net domestic product .
Indirect business tax and
nontax liability plus
business transfer
payments less subsidies.
Domestic income
Compensation of
employees.
Corporate profits with
inventory valuation and
capital consumption
adjustments.
Profits tax liability
Profits after tax with
inventory valuation
and capital
consumption
adjustments.
Net interest
1982
1983
1984
1982
1985
1983
I
II
III
IV
I
III
IV
I
II
III
IV
I
II
m
IV
1
1.000
1.026
1.056
1.088
.988
.995
1.006
1.011
1.015
1.023
1.029
1.037
1.041
1.051
1.061
1.070
1.077
1.086
1.092
1.097
2
.125
.124
.119
.121
.120
.123
.127
.131
.128
.125
.124
.121
.119
..118
.119
.120
.120
.121
.121
.122
3
4
.875
.094
.902
.098
.937
.099
.967
.102
.868
.092
.872
.092
.880
.094
.880
.096
.887
.096
.898
.099
.906
.099
.916
.098
.923
.098
.933
.099
.941
.100
.950
.100
.957
.100
.965
.103
.971
.102
.975
.102
5
6
.781
.676
.804
.679
.838
.687
.865
.710
.776
.666
.780
.672
.786
.679
.784
.685
.791
.682
.799
.678
.807
.676
.818
.680
.825
.679
.834
.682
.842
.691
.850
.697
.857
.703
.862
.709
.869
.709
.873
.717
7
.063
.086
.108
.115
.066
.063
.065
.057
.070
.082
.092
.099
.106
.111
.107
.109
.111
.111
.120
.117
8
9
.026
.037
.031
.055
.035
.073
.029
.085
.027
.038
.027
.037
.026
.038
.023
.034
.023
.047
.030
.053
.035
.057
.034
.065
.038
.068
.038
.073
.032
.075
.032
.077
.029
.081
.028
.083
.030
.090
.031
.086
10
.043
.039
.042
.041
.044
.045
.041
.042
.040
.039
.039
.039
.039
.041
.043
.044
.043
.042
.040
.039
1. Equals the deflator for gross domestic product of nonfinancial corporate business with the decimal point shifted two places to the left.
1985
1984
II
SURVEY OF CURRENT BUSINESS
March 1986
113
8. Supplementary Tables
Table 8.1.—Percent Change From Preceding Period in Selected Series
[Percent]
Seasonally adjusted at annual rates
Line
1982
1983
1984
1982
1985
I
Gross national product:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index.
Personal consumption
expenditures:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price indexDurable goods:
Current dollars
1982 dollars
Implicit price deflator...
Chain price index
Fixed-weighted price
index.
Nondurable goods:
Current dollars
1982 dollars
Implicit price deflator...
Chain price index
Fixed-weighted price
index.
Services:
Current dollars
1982 dollars
Implicit price deflator...
Chain price index
Fixed-weighted price
index.
Gross private domestic
investment:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Fixed investment:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price
index.
Nonresidential:
Current dollars
1982 dollars
Implicit price deflator...
Chain price index
Fixed-weighted price
index.
Structures:
Current dollars
1982 dollars
Implicit price
deflator.
Chain price index...
Fixed-weighted
price index.
Producers' durable
equipment:
Current dollars
1982 dollars
Implicit price
deflator.
Chain price index...
Fixed-weighted
price index.
Residential:
Current dollars
••••
1982 dollars
Implicit price deflator...
Chain price index
Fixed-weighted price
index.
Exports of goods and services:
1982 dollars
III
IV
I
II
1985
1984
III
IV
I
II
III
IV
I
II
ni
IV
1
2
3
4
5
3.7
25
6.4
6.4
6.2
7.4
3.5
3.8
3.9
4.0
11.0
6.5
4.1
4.2
4.3
5.7
2.2
3.3
3.5
3.6
-.2
59
6.4
5.4
5.7
6.2
1.2
5.0
6.4
4.7
2.5
32
5.8
5.7
5.5
4.2
.6
3.6
3.8
4.0
7.2
4.0
2.8
3.2
3.2
12.3
8.9
3.2
2.8
3.8
8.9
5.5
3.5
3.9
4.0
11.8
6.7
4.7
4.1
4.3
17.0
11.4
5.0
4.8
5.1
9.1
5.1
3.8
6.1
4.3
6.0
2.1
3.8
3.8
3.7
4.3
.6
3.7
3.9
3.5
6.9
3.7
3.0
3.5
3.5
4.5
1.1
3.3
3.6
3.6
5.8
3.0
2.9
2.5
2.7
4.3
.7
3.3
2.9
3.9
6
7
8
9
10
7.1
1.3
5.7
5.7
5.6
8.7
4.6
3.9
4.0
4.0
8.7
4.4
4.1
4.2
4.3
6.6
3.3
3.1
3.4
3.4
7.6
2.2
5.5
5.2
5.2
5.6
1.9
3.7
3.6
3.5
8.5
2.1
6.2
6.3
6.3
10.3
5.3
4.4
4.8
4.8
5.6
3.4
2.4
2.2
2.3
12.5
8.0
4.0
4.2
4.2
8.4
4.7
3.5
3.7
3.8
9.4
5.0
4.3
4.4
4.4
9.4
4.2
5.0
5.1
5.2
9.8
5.9
3.4
3.7
3.8
4.1
.1
4.2
4.1
4.2
6.9
3.4
3.4
3.6
3.6
7.4
4.8
2.6
2.7
2.7
6.2
2.6
3.7
3.7
3.8
6.8
4.6
2.2
2.4
2.6
4.5
.1
4.4
4.5
4.6
11
12
13
14
15
5.3
.8
4.5
4.5
4.4
14.6
12.2
2.1
2.2
2.2
14.3
12.3
1.8
1.7
1.8
9.2
8.4
.8
1.0
1.0
17.3
12.7
4.1
4.0
3.8
6.3
2.3
4.1
4.1
4.0
6.4
4.4
2.0
1.9
1.9
18.6
17.2
1.2
1.3
1.3
7.3
4.5
2.4
2.5
2.5
27.5
26.3
1.2
1.4
1.5
14.8
11.4
3.2
2.8
3.0
20.5
16.9
2.8
3.3
3.3
16.7
15.5
1.2
.7
.9
11.1
8.9
1.9
2.2
2.4
1.1
.4
.8
.3
.3
13.2
12.6
.4
.9
.9
12.2
9.3
2.7
2.9
2.8
5.8
6.5
-.4
-.1
.1
16
17
18
19
20
4.1
.9
3.2
3.2
3.1
6.0
3.9
2.0
2.1
2.1
6.8
3.4
3.3
3.3
3.4
4.6
2.3
2.2
2.3
2.3
2.9
-.5
3.3
3.5
3.4
2.4
2.2
.4
.2
.1
7.6
2.4
4.9
5.2
5.1
5.2
3.0
2.0
2.2
2.2
3.0
4.4
-1.2
-1.1
-1.1
10.1
5.1
4.9
4.9
4.6
7.5
5.1
2.0
2.5
2.5
5.3
2.6
2.8
2.8
2.9
9.6
3.7
5.5
5.8
5.9
8.0
6.7
1.2
1.3
1.1
1.6
-.8
2.7
2.4
2.3
3.0
-1.2
4.2
4.3
4.2
5.8
5.6
.4
.3
.3
6.6
3.3
3.0
3.2
3.4
1.9
1.5
.4
.7
.7
6.2
.6
5.7
5.7
5.7
21
22
23
24
25
9.9
1.8
8.0
8.0
7.9
9.3
3.4
5.7
5.8
5.8
8.6
3.0
5.5
5.6
5.6
7.3
2.5
4.8
4.8
4.8
9.0
1.9
6.8
6.9
6.9
7.9
1.7
6.3
6.1
6.1
9.8
1.5
8.3
8.2
8.2
12.3
4.3
7.3
7.7
7.7
7.2
2.5
4.8
4.7
4.7
10.6
5.9
4.3
4.4
4.5
7.4
2.6
4.7
4.8
5.0
9.7
3.6
6.2
5.8
5.8
7.4
1.6
5.3
5.7
5.8
10.8
4.6
6.0
6.0
6.0
6.8
.6
6.3
6.4
6.4
8.1
4.3
3.6
3.8
3.9
7.3
2.9
4.3
4.4
4.4
6.0
1.0
5.0
5.0
5.0
6.0
1.4
4.6
4.6
4.7
9.1
4.4
4.5
4.7
4.6
26
27
28
29
30
-13.2
180
12.2
12.5
34.3
31.4
-.7 -30.9
19
35 5
7.4 -12.7 -32.7
2.9
152
31 0
15.9
14.1
67.8
79.4
34.8
34.2
50.8
43.4
69.2
61.3
9.1
8.8
9.0
6.4
31
32
33
34
35
-4.0
9g
6.2
6.1
5.8
7.7
7.9
-.1
1
.4
19.4
17.6
1.5
1.9
1.7
9.0
7.5
1.5
1.6
1.8
-1.5
-2.9
1.2
1.6
1.8
19.7
26.4
-5.1
-5.3
-3.5
31.6
28.8
2.0
2.9
2.8
23.2
23.4
0
1
-.3
11.0
9.1
1.6
1.5
.9
29.5
24.1
4.5
5.4
4.6
10.3
8.0
2.0
2.8
3.1
11.9
10.5
1.2
1.9
2.0
1.2
0
1.2
36
37
38
39
40
7
72
7.1
7.0
6.5
-2.8
-1.8
-1.1
-.8
-.2
20.1
19.5
.5
.9
1.0
11.3
9.7
1.5
1.5
1.8
-2.6 -12.7
89
97
16 9 -11.9
5.0
3.7
8.1
5.0
3.4
7.8
7.3
4.7
2.8
-6.3 -17.7
-6.2 -15.8
-.4 -2.4
-.1 -1.7
-.8
-.9
6.0
11.6
-4.7
-4.9
-2.8
17.7
20.4
-2.4
-.8
.5
37.3
36.6
.4
-.1
-.5
7.8
6.1
1.6
1.3
.6
33.2
31.2
1.6
2.8
2.9
12.3
10.5
1.6
2.3
2.8
41
42
43
3.5 -12.0
37
95
7.4 -2.8
17.0
14.6
2.2
15.3
11.5
3.4
5.8 -13.1 -12.8
-3.1 -15.7 -14.1
8.9
3.3
1.6
-7.2
-2.8
-4.7
-26.1
-23.6
-3.2
-17.8
-11.5
-7.1
11.0
10.6
0
19.9
22.9
-2.0
14.5
10.4
3.4
40.6
31.0
7.2
44
45
7.4
7.3
2.2
2.2
2.6
2.6
-4.6
-4.8
-2.8
-3.7
-7.4
-7.6
2.3
2.0
-1.2
-1.1
1.6
1.7
46
47
48
-3.2
93
6.7
3.0
3.2
-.1
21.7
22.2
-.4
49
50
6.8
5.9
.5
1.5
.2
.3
51
52
53
54
55
-14.1
-16.9
3.5
3.5
3.5
44.6
41.5
2.2
2.3
2.3
17.8
13.2
4.1
4.1
4.0
3.6 -26.4
1.7 -29.4
1.9
4.1
1.8
3.9
1.9
3.8
56
57
58
59
60
-5.5
-7.8
2.6
2.6
2.4
22
-3.5
1.4
1.6
1.6
8.6
6.2
2.3
2.8
2.9
38 -11.7
-3.0 -15.2
9
4.1
-.4
4.2
— 2
4.1
-3.8
-2.3
-1.6
-1.6
-1.5
7.1
9.9
-2.5
23
-2.3
23.5
23.6
1
_ j
1.0 -10.5
12.0
2.7
-1.6
1.6
-1.7
2.0
1.8
-1.6
Chain price index
Fixed-weighted price index
Imports of goods and services:
61
Current dollars
62
1982 dollars
63
Ph
•
• j
64
65
Fixed-weighted price index
II
1983
-2.8
-2.8
-8.4
-8.6
14 3 -11.9
7.2
3.7
3.7
6.9
3.3
6.5
9.2
8.8
3.6
3.4
-9.5
120
2.8
2.9
2.3
1.3
1.3
9.2 -7.6 -12.5
-6.3
8.8 -13.8 -17.4 -10.6
6.3
.4
7.2
4.5
1.0
1.4
6.9
6.3
6.0
5.5
7.4
9.0
-1.6
-1.3
-1.8
-5.7 -12.1
-8.2 -10.6
2.8 -1.6
-6.6
-7.7
-10.6
-11.7
.5
12.0
9.7
2.0
2.6
2.6
22.0
19.8
2.0
2.1
2.2
1.3
-.5
1.6
.4
.9
13.3
12.5
.8
1.3
1.6
3.7
2.4
1.2
1.5
2.0
12.2
11.3
.8
1.6
1.9
12.2
8.6
3.7
16.5
12.1
4.1
24.6
19.8
4.0
9.0
5.2
3.6
1.7
1.2
.4
10.0
7.2
2.4
7.8
7.7
4.0
4.0
3.3
3.2
1.1
1.1
1.9
1.7
2.1
2.0
3.2
3.2
22.8
27.9
-4.3
21.6
26.3
-3.6
47.4
44.9
1.6
4.4
3.9
.4
29.7
31.3
-1.2
12.1
11.5
.8
25.1
24.2
.8
-9.5
102
.4
15.9
16.9
-.8
4.8
3.0
2.0
13.5
13.5
0
1.4
2.1
1.5
1.6
.1
.8
1.0
1.5
1.2
1.9
.7
1.0
6.1 -9.6
1.9 -10.8
4.2
1.1
4.2
1.3
4.1
1.4
.7
1.7
-.7
-1.1
-.7
8.5
7.1
.7
1.1
.9
9.7
8.5
1.1
1.1
1.2
11.3
5.7
5.7
5.3
5.2
-.9
.8
-3.4
.3
-2.5
-.5
.4
1
1.1
.3
.1
7.7 -11.4
9.0
12.2
-1.2
.8
.9
-1.1
-1.2
.9
69.7
79.1
-5.1
-5.4
-5.2
63.5
45.6
12.2
12.4
12.1
61.4
72.6
-6.5
-6.3
-5.9
69.0
50.9
12.1
12.1
11.4
-3.1
-2.9
-.4
-.1
.4
18.6
16.4
2.0
1.9
1.8
20.9
8.4
11.7
11.6
10.5
18.6 -24.1
6.5
4.8 -18.6 -23.7
-.4
1.6
0
-.1
1.7
-.2
1.6
-.1
-.2
10.8
8.3
2.0
2.0
2.1
.5
-.5
1.2
1.4
1.6
15.9
13.1
2.4
2.8
3.1
12.6
7.0
5.2
5.9
6.0
7.4
4.1
3.2
3.1
3.2
7.6
4.4
3.1
4.0
4.2
9.9
11.7
-1.9
-1.2
-1.1
-1.9
.4
-2.3
-1.4
-1.5
45.9
55.0
-5.9
-4.1
-5.1
39.4
40.8
-.8
-.1
.2
21.2
20.6
.4
— 2
-'.1
17.8
15.9
1.7
1.0
1.0
38.2
35.9
2.1
1.7
1.8
5.2
7.7
-2.8
-2.4
-2.3
7.6 -30.3
10.6 -27.6
-2.4
-3.7
-1.9
-5.1
-2.0
-4.9
-6.9
-4.8
-2.4
-2.6
-2.4
9.1
6.8
5.3
4.0
1.6
1.4
1.8
2.8
1.9
10.6 -24.6
13.7 -24.4
-2.8
0
.1
2.6
-2.6
-3.9
-6.3
11.9
11.1
.8
1.3
1.4
4.8
3.7
1.9
3.8
-5.4
-5.6
-5.7
9.6
10.4
23.7 -14.1
24.3 -13.3
-.8
-.8
-1.0
1.3
-1.0
1.1
105
-9.8
-8.8 -10.9
.8
-1.2
-.6
.6
-.2
1.1
17.8
18.2
4
-.1
.2
-6.3
-5.1
-1.5
-1.8
-1.5
5.2
6.6
12
-.1
-.1
10.9
12.8
-1.7
-1.0
-1.6
29.6
24.5
3.8
5.3
5.4
114
SURVEY OF CURRENT BUSINESS
March 1986
Table 8.1.—Percent Change From Preceding Period in Selected Series—Continued
[Percent]
Seasonally adjusted at annual rates
Line
Government purchases of
goods and services:
Current dollars
1982 dollars
. . .
Implicit price deflator
Chain price index
Fixed-weighted price index
Federal:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price
index.
National defense:
Current dollars
1982 dollars
Implicit price
deflator.
Chain price index
Fixed-weighted price
index.
Nondefense:
Current dollars
1982 dollars
Implicit price
deflator.
Chain price index
Fixed-weighted price
index.
State and local:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price
index.
Addenda:
Gross domestic purchases:
1982 dollars
Chain price index
Fixed-weighted price index
Final sales:
1982 dollars
Chain price index
Fixed-weighted price index
Final sales to domestic
purchasers:
1982 dollars
Chain price index
Fixed-weighted price index
Command-basis gross national
product:
1982 dollars
Implicit price deflator
Gross domestic product:
1982 dollars
Implicit price deflator
Business:
1982 dollars
Implicit price deflator
Nonfarm:
1982 dollars
Implicit price
deflator.
Disposable personal income:
Current dollars
1982 dollars
1982
1983
1984
1985
1982
I
II
1983
IV
III
I
II
1985
1984
IV
IV
I
II
-1.5
-5.6
4.7
4.9
4.3
11.0
5.0
5.4
6.1
6.6
24.1
17.7
5.7
15.7
4.7
6.8
3.2
3.4
3.4
2.4
11.8
6.9
4.5
5.0
4.0
4.7
-1.4
6.3
6.3
6.2
9.4
4.7
4.3
5.2
4.1
20.4
18.2
2.1
4.2
3.6
12.4
9.2
2.8
4.3
5.3
-1.4
-9.2
-.3 -13.0
-1.2
4.3
1.6
6.0
2.9
4.3
9.5
5.3
3.9
4.6
6.0
47.6
39.2
6.2
31.5
3.4
4.8
2.6
1.9
1.7
-.9
19.3
15.1
3.8
4.5
1.9
1.8
-3.8
6.0
6.3
5.8
4.1
2.1
1.8
3.6
.9
36.0
37.3
-.7
3.3
1.5
23.7
23.4
0
2.3
4.5
III
III
I
IV
II
III
66
67
68
69
70
9.1
1.9
7.1
7.1
6.3
5.3
1.0
4.3
5.1
4.7
9.0
4.3
4.5
4.5
4.6
10.7
6.0
4.4
5.0
4.6
5.9
-.8
6.8
6.8
5.5
2.3
-3.1
5.8
10.4
5.3
14.4
8.4
5.3
5.0
4.4
16.2
11.4
4.4
5.0
6.1
-1.5
-6.5
5.2
5.7
4.3
2.7
-.6
3.5
3.9
4.3
71
72
73
74
75
12.6
5.0
7.2
7.2
5.4
4.4
1.0
3.4
5.0
4.2
9.9
6.2
3.5
3.1
3.5
13.6
10.3
3.0
4.1
3.1
4.2
-.7
5.0
5.3
2.4
-5.4
-9.4
4.5
15.9
3.8
27.1
22.0
3.7
2.5
1.3
28.7 -8.1
25.0 -13.5
3.2
6.1
4.5
7.3
7.0
4.1
-.1
-2.3
2.4
3.4
4.4
76
77
78
15.7
7.5
7.6
11.3
7.0
4.0
9.9
6.3
3.5
10.5
7.0
3.3
5.7
.6
5.0
19.0
14.1
4.6
15.5
11.8
3.3
17.5
9.2
7.4
8.0
4.9
2.8
10.1
6.2
4.0
2.4
-.8
3.1
13.8
10.7
3.1
10.0
4.4
5.0
13.8
10.7
3.0
.7
20.6
16.0
3.8
a.3
.7
21
5.6
10.8
8.7
1.8
23.6
22.0
1.1
3.3
-3.2
7.0
79
80
7.6
6.6
4.2
3.8
3.5
3.6
3.6
3.8
5.1
2.1
4.6
4.4
3.4
1.9
• 7.7
7.0
2.9
2.5
3.5
4.9
3.8
1.5
2.4
4.3
6.6
6.2
3.2
3.9
-.1
-1.1
4.7
3.0
6.3
7.4
2.3
1.0
4.3
2.3
3.7
5.3
81
82
83
5.5 -12.3
-.5 -13.4
6.0
1.3
9.8
5.9
3.8
23.2
20.2
2.5
1.0 -46.6
-4.3 -49.2
5.4
4.9
63.3
55.2
5.3
-12.1 -58.9
1.7 -60.8
4.5
-13.3
8.1
8.8
-.8
261.3
196.7
22.0
17.2
10.5
6.6
16.5
13.0
3.0
59.8 -38.1 -24.6
73.0 -46.6 -23.1
-7.7
15.3 -1.9
4.4
2.1
1.9
3.5
4.1
-2.3 -14.2
-9.2 -16.0
2.2
7.3
97.4
82.8
95.9 125.4
-6.7 -12.7
84
85
6.1
2.6
7.2
5.0
2.1
3.4
5.5
1.2
5.7
3.1
44.8
2.2
.2
-3.3
6.8
18.1
8.0
3.2
3.0
-4.5
6.3
17.6
4.5
-3.0
5.4
205.1
2.0
7.0
-.4
4.1
-.6
6.2
2.1
7.2
.5
.2
-.5
-1.6
2.4
86
87
88
89
90
6.7
-.3
7.1
7.0
7.0
5.9
.9
5.0
5.1
5.1
8.4
3.0
5.3
5.4
5.4
8.5
2.7
5.6
5.8
5.8
7.1
8
8.2
7.9
7.9
8.3
1.6
6.3
6.5
6.4
6.0
-.6
7.0
6.7
6.7
7.6
2.2
5.3
5.5
5.5
3.7
-.8
4.4
4.5
4.5
5.0
.8
4.3
4.3
4.3
8.8
3.8
4.7
4.9
4.9
4.4
.2
4.2
4.2
4.2
12.0
4.7
6.9
7.1
7.1
9.5
4.1
5.3
5.5
5.6
8.3
3.5
4.8
4.8
4.8
6.4
.9
5.5
5.4
5.4
6.9
.5
6.2
6.3
6.4
13.6
6.9
6.1
6.4
6.4
9.6
4.7
4.9
5.0
5.0
4.2
-1.6
5.9
5.8
5.9
91
92
93
19
6.0
5.8
5.0
3.5
3.6
8.5
3.9
4.0
2.8
3.3
3.5
-5.4
5.2
5.5
1.1
5.6
3.9
.6
5.5
5.3
.6
3.9
4.1
2.6
2.8
2.7
14.1
2.2
3.1
8.2
3.6
3.7
8.2
3.4
3.7
12.8
4.5
4.9
8.6
5.8
4.1
1.8
3.6
3.7
1.9
3.8
3.5
.4
2.8
3.1
4.4
3.5
3.6
5.0
2.5
2.7
3.0
3.5
4.5
94
95
96
-1.1
6.5
6.2
2.9
4.0
4.0
4.5
4.2
4.3
3.9
3.6
3.5
-1.7
6.0
5.7
-1.1
5.7
4.7
-2.6
5.7
5.5
7.1
3.9
4.0
1.8
3.3
3.1
3.8
3.3
3.7
4.9
3.9
4.0
4.0
4.5
4.3
3.8
4.9
5.1
7.4
6.5
4.3
2.2
4.0
3.7
4.0
3.7
3.4
6.2
3.6
3.5
1.2
3.7
3.6
5.0
2.6
2.6
1.3
3.7
3.9
97
98
99
-.4
6.0
5.8
4.4
3.6
3.6
6.4
3.9
4.0
4.5
3.4
3.5
12
5.8
5.4
-1.3
5.0
3.8
1.1
5.5
5.3
7.1
4.0
4.1
.4
2.8
2.7
8.7
2.8
3.1
7.6
3.5
3.7
5.5
3.8
3.7
5.2
4.7
4.9
11.0
6.2
4.1
2.0
3.7
3.6
5.2
3.6
3.5
2.7
3.0
3.1
4.5
3.6
3.6
7.0
2.6
2.7
3.5
4.2
4.5
100
101
-2.1
5.9
4.0
3.3
6.8
4.0
2.3
3.3
-5.6
5.9
2.1
3.7
-2.8
5.8
.5
3.6
4.5
2.4
9.7
2.8
6.0
2.7
7.3
4.3
11.6
4.7
5.2
3.8
2.2
3.4
.6
3.8
3.9
3.0
1.1
3.3
3.0
2.6
.2
4.0
102
103
2.5
6.4
3.7
3.8
6.8
4.1
2.5
3.3
-5.1
6.4
.9
5.0
-2.9
5.8
1.1
3.6
4.0
2.8
9.2
3.2
5.2
3.5
7.0
4.7
11.7
5.0
6.0
3.8
1.7
3.8
.8
3.7
4.2
3.0
1.4
3.3
3.1
2.9
.7
3.3
104
105
-3.0
6.0
4.2
3.3
7.7
4.0
2.7
3.0
-6.0
5.5
.8
4.6
-3.4
5.8
1.2
2.8
4.6
2.4
10.7
2.8
5.8
3.1
8.0
4.7
13.4
4.3
6.6
3.8
1.8
3.8
.7
3.8
4.8
2.2
1.5
3.0
3.4
2.6
.5
2.9
106
107
-2.9
6.4
4.9
3.5
7.6
3.7
2.7
3.4
-4.9
5.5
.2
4.1
-3.0
6.2
_ g
3l2
7.2
2.4
11.4
3.6
9.2
2.0
7.1
5.1
11.5
2.7
7.0
4.2
1.3
4.6
1.8
3.8
3.5
3.0
2.3
3.7
2.6
2.9
1.4
2.2
108
109
6.3
.6
7£
3^2
10.1
5.7
4.9
1.6
3.7
-1.4
6.4
2.7
6.7
.4
7.1
2.3
4.8
2.7
7.4
3.1
10.5
6.7
12.4
7.8
15.0
9.6
6.2
2.5
7.3
3.1
4.1
.6
2
-^
12.0
8.2
-2.5
-4.5
6.7
2.3
NOTE.—The fixed-weighted price index and the chain price index, both of which are weighted averages of the detailed prices used in the deflation of GNP, are measures of price change. In
calculating changes in these indexes, the composition of GNP is held constant. Consequently these changes reflect only changes in prices. The fixed-weighted price index measures price change over
any period, using as weights the composition of GNP in 1982. The chain price index measures price change between two consecutive periods, using as weights the composition of GNP in the first
period. The implicit price deflator is a byproduct of the deflation of GNP. It is derived as the ratio of current- to constant-dollar GNP (multiplied by 100). It it the average of the detailed prices used
in the deflation of GNP, but the prices are weighted by the composition of GNP in each period. Consequently, the implicit price deflator reflects not only changes in prices but also changes in the
composition of GNP, and its use as a measure of price change should be avoided.
115
SURVEY OF CURRENT BUSINESS
March 1986
Table 8.2.—Selected Per Capita Income and Product Series in Current and Constant Dollars and Population of the United States
Current dollars
Year
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
Gross
national
product
..
853
741
615
468
446
518
572
648
708
657
697
760
941
1,179
1,409
1,527
1,525
1,502
1,632
1,784
1,745
1,900
2,161
2,240
2,329
2,294
2,456
2,546
2,633
2,623
2,800
2,851
2,905
3,080
3,206
3,386
3,628
3,927
4,108
4,447
4,755
4,951
5,309
5,777
6,414
6,886
7,401
8,175
9,036
10,105
11,142
11,995
13,262
13,614
14,485
15,922
Personal
income
692
613
521
395
368
420
469
531
569
520
550
587
714
907
1,102
1,188
1,215
1,256
1,319
1,427
1,384
1,504
1,663
1,745
1,821
1,805
1,901
2,004
2,080
2,108
2,207
2,265
2,318
2,429
2,516
2,659
2,840
3,056
3,243
3,523
3,813
4,056
4,305
4,676
5,198
5,657
6,081
6,655
7,297
8,141
9,036
9,916
10,952
11,485
12,079
13,127
Disposable
personal
income
671
593
506
384
357
408
455
513
547
499
532
568
689
863
972
1,052
1,066
1,124
1,171
1,283
1,260
1,368
1,475
1,528
1,599
1,604
1,687
1,769
1,833
1,865
1,946
1,986
2,034
2,123
2,197
2,352
2,505
2,675
2,828
3,037
3,239
3,489
3,740
4,000
4,481
4,855
. 5,291
5,744
6,262
6,968
7,682
8,421
9,243
9,724
10,328
11,263
Constant (1982) dollars
Personal consumption expenditures
Total
634
568
487
389
365
406
438
484
517
493
511
538
606
657
727
782
855
1,018
1,123
1,193
1,195
1,267
1,349
1,396
1,458
1,477
1,560
1,608
1,666
1,692
1,786
1,829
1,857
1,940
2,017
2,133
2,268
2,428
2,534
2,752
2,949
3,121
3,330
3,609
3,950
4,285
4,689
5,178
5,707
6,304
6,960
7,607
8,320
8,818
9,493
10,221
Durable
goods
76
58
44
29
28
33
40
49
54
44
51
59
72
51
48
48
57
111
142
156
168
203
194
186
205
198
235
227
232
214
242
240
228
252
273
296
327
348
355
404
425
418
470
530
588
579
627
740
838
923
973
963
1,042
1,086
1,233
1,397
Nondurable
goods
309
276
233
182
177
211
230
256
273
261
268
280
321
376
429
465
514
585
631
659
636
648
708
731
738
737
755
777
800
814
839
847
857
878
895
936
987
1,060
1,091
1,171
1,244
1,318
1,364
1,453
1,602
1,781
1,927
2,072
2,226
2,434
2,724
2,992
3,217
3,315
3,479
3,680
Services
249
233
210
178
160
162
168
178
190
188
192
199
212
230
251
269
284
321
351
378
392
416
447
478
515
542
570
604
634
664
706
741
772
810
848
900
954
1,019
1,087
1,178
1,280
1,385
1,496
1,626
1,760
1,926
2,135
2,366
2,643
2,947
3,263
3,653
4,061
4,416
4,781
5,144
Gross
national
product
5,822
5,223
4,737
4,075
3,966
4,243
4,555
5,166
5,391
5,111
5,469
5,850
6,817
8,010
9,333
9,975
9,682
7,758
7,401
7,561
7,434
7,935
8,609
8,792
8,995
8,721
9,045
9,069
9,056
8,839
9,200
9,213
9,299
9,644
9,896
10,281
10,741
11,233
11,428
11,784
11,953
11,781
11,964
12,426
12,948
12,760
12,478
12,961
13,431
13,993
14,182
13,994
14,114
13,614
13,958
14,730
Disposable
personal
income
4,091
3,727
3,534
3,043
2,950
3,100
3,359
3,738
3,836
3,557
3,812
4,017
4,528
5,138
5,276
5,414
5,285
5,115
4,820
5,000
4,915
5,220
5,308
5,379
5,515
5,505
5,714
5,881
5,909
5,908
6,027
6,036
6,113
6,271
6,378
6,727
7,027
7,280
7,513
7,728
7,891
8,134
8,322
8,562
9,042
8,867
8,944
9,175
9,381
9,735
9,829
9,722
9,769
9,725
9,942
10,412
Population
(mid-year,
millions)
Personal consumption expenditures
Total
3,868
3,569
3,400
3,081
3,013
3,088
3,236
3,523
3,628
3,517
3,667
3,804
3,981
3,912
3,949
4,026
4,236
4,632
4,625
4,650
4,661
4,834
4,853
4,915
5,029
5,066
5,287
5,349
5,370
5,357
5,531
5,561
5,579
5,729
5,855
6,099
6,362
6,607
6,730
7,003
7,185
7,275
7,409
7,726
7,972
7,826
7,926
8,272
8,551
8,808
8,904
8,783
8,794
8,818
9,138
9,448
Durable
goods
330
259
221
168
164
185
227
280
292
234
273
307
346
232
205
190
205
338
392
421
454
532
484
465
502
502
586
552
539
499
547
542
509
552
591
630
693
734
736
805
828
792
859
955
1,040
958
952
1,065
1,153
1,201
1,184
1,080
1,089
1,086
1,207
1,344
Nondurable
goods
1,735
1,648
1,624
1,497
1,447
1,521
1,582
1,750
1,805
1,811
1,893
1,963
2,066
2,070
2,082
2,153
2,312
2,435
2,341
2,310
2,295
2,326
2,352
2,399
2,433
2,425
2,500
2,538
2,538
2,526
2,574
2,563
2,559
2,595
2,611
2,696
2,795
2,896
2,914
3,001
3,044
3,084
3,083
3,170
3,223
3,114
3,132
3,250
3,320
3,385
3,406
3,348
3,321
3,315
3,410
3,493
Services
1,803
1,662
1,555
1,416
1,402
1,381
1,427
1,493
1,530
1,472
1,501
1,534
1,569
1,611
1,661
1,683
1,719
1,860
1,892
1,919
1,912
1,976
2,016
2,051
2,094
2,140
2,200
2,259
2,292
2,332
2,409
2,456
2,511
2,582
2,653
2,773
2,874
2,977
3,081
3,197
3,313
3,399
3,468
3,601
3,709
3,754
3,842
3,956
4,079
4,222
4,314
4,355
4,384
4,416
4,521
4,612
121.9
123.2
124.1
124.9
125.7
126.5
127.4
128.2
129.0
130.0
131.0
132.1
133.4
134,9
136.7
138.4
139.9
141.4
144.1
146.6
149.2
151.7
154.3
157.0
159.6
162.4
165.3
168.2
171.3
174.1
177.1
180.8
183.7
186.6
189.3
191.9
194.3
196.6
198.8
200.7
202.7
205.1
207.7
209.9
211.9
213.9
216.0
218.1
220.3
222.6
225.1
227.8
230.2
232.5
234.8
237.1
116
SURVEY OF CURRENT BUSINESS
Table 8.3.—Capital Consumption Allowances with Capital Consumption
Adjustment by Legal Form of Organization
March 1986
Table 8.5.—Supplements to Wages and Salaries by Type
[Billions of dollars]
[Billions of dollars]
Line
1982
1983
1984
1
383.2
399.6
418.9
Domestic corporate business
Financial
Nonfinancial
2
3
4
2450
129
2321
2566
14 1
2425
Sole proprietorships and partnerships
Farm
Nonfarm
5
6
7
235.0
120
2230
64.1
205
43.6
66.6
208
45.8
Other private business
Proprietors' income
Rental income of persons
Buildings and equipment owned and
used by nonprofit
institutions serving individuals1.
Addenda:
8
9
10
11
84.1
23
70.6
11.2
88.0
25
73.6
11.9
69.4
210
48.5
92.9
26
77.6
12.7
12
13
361.2
282.5
377.1
295.0
396.4
309.5
Capital consumption allowances with capital consumption
adjustment.
Nonfarm business
Nonfarm business less housing
1. Fixed capital assets owned and used by these entities are considered to be business
activities selling their current services to their owners. The value of these services is included in
personal consumption expenditures and is equal to their current-account purchases including
capital consumption allowances with capital consumption adjustment.
Table 8.4.—Capital Consumption Adjustment by Legal Form of
Organization and Type of Adjustment
[Billions of dollars]
Capital consumption adjustment *
For consistent accounting at historical cost . .
For current replacement cost
For consistent accounting at historical cost
For current replacement cost
Nonfinancial .
For consistent accounting at historical cost
For current replacement cost
Sole proprietorships
and partnerships
Farm 1
Nonfarm
.
For consistent accounting at historical cost
For current replacement cost
Other private business 1
Proprietors' income
Rental income of persons
Buildings and equipment owned and
used by nonprofit
institutions serving individuals 2.
Addendum:
Capital consumption adjustment for national income
(4+13 + 19 + 20).
1
—62.3 -27.1
.8
102.8 133.9 159.0
165 1 161 1 1581
4
5
6
7
8
9
10
11
12
• •
1984
1982
2
3
Domestic corporate business
For consistent accounting at historical cost
For current replacement cost
1983
Line
13
14
15
16
17
18
19
20
21
—9.2
18.8
41.0
82.0 105.6 123.8
-913
868 -828
3
8
18
2.4
3.2
13
31
27
25
-75
19.0
40.3
807 1032 1206
-88.2 -84.1 -80.3
-5.4
2.8
10.2
93
94
93
3.9
12.2
19.4
208
283
352
-16.9 -16.1 -15.7
477
48.7 — 50.4
-1.0
-1.0
-1.0
-408 -41.7 -432
-5.9
-6.0
-6.3
22
-56.5
-21.1
By Type
Pension, profit-sharing and other retirement benefit plans
Old-age, survivors, and disability insurance (3.6;5)
Railroad retirement (3 6-15)
Federal civilian employee retirement (3.6;13)
Federal military employee retirement (3 6-14). .
State and local employee retirement (3.6;20)
Private pension and profit-sharing (6 13-21)
Health insurance
Federal hospital insurance (3 6'6)
Military medical insurance (3.6;18)
Temporary disability insurance (3 6*21) 2
Private group health insurance (6.13;23)
Life insurance
Veterans life insurance (3 6-16). . 2
Private group life insurance (6 13'24)
Workers' compensation
Federal (3 6-17)
State and local (3.6-22).
. .
.
Private insurance 2 (6 13-25)
„
Unemployment insurance
.
. ..
State unemployment insurance (3 6-8)
Federal unemployment tax (3 6'9)
Railroad employees unemployment insurance (3 6-10)
Federal employees unemployment insurance (3.6;11)
Private supplemental unemployment (6 13-26)
Other (6 13-27) 3
. . .
1982
1983
1984
1
3209
1573
163.6
3505
171 0
179.5
386.2
1762
69.2
20
9.0
154
23.2
574
1897
73.3
19
9.6
163
25.3
633
1087
186
.6
1
89.4
2092
85.2
22
10.1
167
27.5
67.5
118.5
204
.7
.1
97.2
77
0
76
20.1
9
3.0
161
21.7
158
4.8
2
.4
5
78
0
7.8
21.6
1.0
3.1
17.5
26.2
197
5.5
2
.3
.5
2.6
2.9
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
97.8
168
.5
1
80.3
75
0
75
19.7
9
3.1
156
17.6
128
3.7
2
.3
.6
2.2
1928
193.4
1. The numbers in parentheses indicate the tables and line numbers from which the entries in
this table are derived.
2. Employer contributions to publicly administered programs are classified as employer
contributions for social insurance. Employer contributions to privately administered programs
are classified as other labor income. Consequently, government contributions to privately
administered health and life insurance and worker's compensation plans for government
employees are classified as other labor income.
3. Consists largely of directors' fees.
Table 8.6.—Rental Income of Persons by Type
[Billions of dollars]
Line
1
Rental income of persons
2
3
Rental income
Nonfarm housing
Owner-occupied
Permanent site
Mobile homes
Tenant-occupied (permanent site)
7.1
1. Except for farm proprietorships and partnerships (line 14) and other private business (line
18), the capital consumption adjustment is calculated in two parts. The adjustment for
consistent accounting at historical cost converts depreciation based on the service lives and
depreciation schedules employed by firms when filing their income tax returns to consistent
service lives and straight-line depreciation schedules. The adjustment for current replacement
cost converts the historical cost series with consistent accounting to a current replacement cost
series. For farm proprietorships and partnerships and other private business, the historical cost
series is based on consistent service lives and straight-line depreciation schedules so that the
adjustment reflects only a conversion to current replacement cost.
2. Fixed capital assets owned and used by these entities are considered to be business
activities selling their current services to their owners. The value of these services is included in
personal consumption expenditures and is equal to their current-account purchases including
capital consumption allowances with capital consumption adjustment.
Supplements to wages and salaries
Employer contributions for social insurance (3.6'2) 1 .. . .
Other labor income (6.13;1)
Line
Nonfarm nonresidential properties
Royalties
....
4
5
6
7
8
9
10
1982
544
423
32.3
22.4
220
3
99
38
6.3
12.1
1983
54 4
438
341
1984
540
426
21.9
221
3
313
18.4
191
7
123
30
6.6
107
129
36
7.7
114
117
SURVEY OF CURRENT BUSINESS
March 1986
Table 8.7.—Dividends Paid and Received
Table 8.8.—Interest Paid and Received
[Billions of dollars]
[Billions of dollars]
Dividends paid
Domestic corporate business 1
Financial
Nonfinancial
Rest of the world 2
Dividends received
Domestic corporate business 2
Financial
Nonfinancial
Rest of the world l
Government
.
Persons
.
.
.
Addenda:
Dividends in national income (1 7 10)
Dividends paid by domestic corporate business (net) (2 less 7)
Dividends paid to United States by rest of the world (net) (5
less 10).
Dividends in personal income (13 less 11)
Line
1982
1983
1984
1
119.2
101.1
134
87.7
181
119.2
46.7
18.8
27.9
123.5
108.1
15.0
93.1
15.4
123.5
47.0
20.4
26.6
5.7
134.3
117.2
15.8
101.4
17.1
2
3
4
5
6
7
8
9
10
11
134.3
50.1
2.8
68.0
20.8
29.3
6.1
3.5
74.6
12
5.6
29
63.9
13
14
15
669
54.3
12.5
70.8
61.1
9.7
78.1
67.1
11.0
16
63.9
68.0
74.6
1. Remitted earnings to foreign residents from their unincorporated U.S. affiliates are treated
as dividends paid by domestic corporate business (line 2) and as dividends received by the rest of
the world (line 10).
2. Earnings of U.S. residents remitted by their unincorporated foreign affiliates are treated as
dividends paid by the rest of the world (line 5) and as dividends received by domestic corporate
business (line 7).
Monetary interest paid
Business
Corporate business
Financial
On deposits 1
On other liabilities
Nonfinancial
Sole proprietorships and partnerships
Farm
Nonfarm
Other private business
Real estate . . .
Other
Persons (interest paid by consumers to business)
Government
Federal
State and local
Foreigners
To business
To Federal Government
Monetary interest received
Business
Corporate business
.
Financial
Nonfinancial
Financial sole proprietorships and partnerships 2 .. .
Other private business
Persons 2
Government
Federal
State and local
Foreigners
From business
From Federal Government
Imputed interest paid
Corporate business (financial)
Banks credit agencies and investment companies
Life insurance carriers and private noninsured pension plans
Imputed interest received
Business
Corporate business
Financial
Nonfinancial
Sole proprietorships and partnerships
Farm
Nonfarm
Other private business
. .
. . .
Persons
From banks credit agencies and investment companies .
From life insurance carriers and private noninsured pension
plans.
Government
Federal
State and local
Foreigners
Addenda1 Net interest (56+57)
Domestic business (2+36 22 40)
Rest of the world (18-33—54)
;
Interest paid by government to persons and business (15—34)
Interest received by government (29+51)
Interest paid by consumers to business (14)
Personal interest income (55+58-59 + 60) or (28+48)
Line
1982
1
2
3
4
5
6
7
8
9
10
11
12
13
14
991.3
7476
5532
3649
1837
181.3
1882
65.8
181
477
128.6
1245
41
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
1983
1984
975.5 1 136.6
7156 8298
507 5 5977
3314 391 1
1736 201 5
157.7 189.5
1762 2066
66.3
70.8
177
174
486
534
141.8 161.3
1375 1567
42
46
618
555
733
1283 145.1 173.9
101 1 1128 1363
27.1
32.3
37.6
598
530
597
56.2
48.4
54.7
36
46
50
991.3 975.5 1,136.6
619.2 596.3 696.5
611.2 587.7 686.4
5196 5045 5874
oq q
91.6
99.0
77
83
9.8
3
3
3
2556
64.4
162
48.2
259.5
73.0
181
54.9
521
33.8
183
468
29.0
178
164.3
164.3
858
78.5
164 3
35
36
37
38
152.0
152.0
79 1
72.9
39
40
41
42
43
44
45
46
47
48
49
50
152 0
313
25.7
57
20.0
55
16
3.8
1
51
52
53
54
55
56
57
58
59
60
61
300.6
80.9
204
60.5
587
38.9
198
183.9
183.9
977
86.3
299
25.0
54
19.5
48
15
3.4
1
183 9
327
27.5
56
219
51
16
35
1
1141
412
72.9
126.3
477
78.5
1417
554
86.3
3.7
4
4.1
4
3.6
41
273.6
2537
19.9
127.3
77 1
61.8
385.7
46
5
4.1
oq
28
272.3
249 1
23.2
110.0
681
555
369.7
50
3002
2845
15.8
154.1
854
733
442.2
1. Consists of interest paid on the deposit liabilities of commercial and mutual saving banks,
savings and loan associations, and credit unions.
2. Interest received by nonfinancial sole proprietorships and partnerships is considered
interest received by persons and is included in line 28.
NOTE.—In table 8.8, imputed interest paid (line 35) is the difference between the property
income received by financial intermediaries from the investment of depositors' or beneficiaries'
funds and the interest paid by them to business, persons, governments, and foreigners. In table
8.9, imputed interest (line 52)—the interest component of imputations that affect GNP—consists
of the imputed interest paid by financial intermediaries other than life insurance carriers and
private noninsured pension plans to persons and government, and the interest paid on owneroccupied housing and on buildings and equipment owned and used by nonprofit institutions
serving individuals.
118
SURVEY OF CURRENT BUSINESS
March 1986
Table 8.9.—Imputations in the National Income and Product Accounts
[Billions of dollars]
Line
Gross national product
.. ..
Imputations (86+94+99 + 103 + 104 + 108 + 109+ 110+ 111 +
112+113+114+117+119).
Excluding imputations (1 2)
1982
1983
1984
1
2
3,166.0 3,401.6 3,774.7
280.7 306.5 335.5
3
2,885.3 3,095.1 3,439.2
Personal consumption expenditures
Imputations (6+7)
Housing services (86+94 — 118)
Other (99 + 103 + 108+109 + 110+111 — 120)
Excluding imputations (4 5)
4
5
6
7
8
2,050.7 2,229.3 2,423.0
175.0 145.6 167.4
85.4
122.0
98.1
60.2
69.2
53.1
1,875.6 2,083.7 2,255.7
Gross private domestic investment
Imputations (118 + 119 + 120)
Excluding imputations (9 10)
9
10
11
447.3
85.1
362.2
Net exports of goods and services
Imputations (16—19)
Excluding imputations (12 13)
12
13
14
26.3
0
26.3
Exports
Imputations (105)
Excluding imputations (15 16)
15
16
17
361.9
2.8
359.1
354.1
4.1
350.0
384.6
5.0
379.7
Imports
18
19
20
335.6
2.8
332.8
359.4
4.1
355.3
443.8
5.0
438.9
21
22
23
641.7
20.6
621.1
675.7
22.0
653.7
736.8
23.0
713.8
F HurT
"
t t'
("18
19)
Government purchases of goods and services
Imputations (104 + 112+113 + 114+117)
Charges against gross national product
Imputations (86+94+99+103 + 104 + 108 + 109+110+111 +
112+113 + 114+117 + 119).
Excluding imputations (24 25)
501.9
138.9
362.9
674.0
145.1
529.0
-5.3 -59.2
0
0
53
592
24
25
3,166.0 3,401.6 3,774.7
280.7 306.5 335.5
26
2,885.3 3,095.1 3,439.2
Capital consumption allowances with capital consumption
adjustment.
Imputations (87+95+100)
27
383.2
399.6
418.9
28
29
68.0
315.1
71.4
328.2
75.0
344.0
Indirect business tax and nontax liability
Imputations (88+96+101)
Excluding imputations (30 31)
30
31
32
258.8
39.4
219.4
282.5
42.5
240.1
310.6
45.6
265.0
Subsidies less current surplus of government enterprises
Imputations (89)
Excluding imputations (33—34)
33
34
35
8.7
.3
8.4
National income
Imputations (90+91 + 97+98+102+103 + 104 + 108 + 109 +
110+111 + 112+113+114 + 117 + 119).
Excluding imputations (36 37)
Wages and salaries
Imputations (109 + 110+ 111)
Excluding imputations (39-40)
Line
72
73
2,261.4 2,425.4 2,670.2
87.0
96.1 103.2
74
2,174.5 2,329.3 2,567.0
Personal outlays
Imputations (87 + 88 + 91 + 95 + 96 + 98 + 100 + 101 + 103 +
108+109+110+111-89-118-120).
Excluding imputations (75—76)
75
76
2,107.5 2,292.2 2,497.7
69.9
28.5
33.1
77
2,037.6 2,263.7 2,464.5
Personal saving
. .
Imputations (118+119+120 87 95 100)
Excluding imputations (78 79)
78
79
80
153.9
17.1
136.9
133.2
67.6
65.6
172.5
70.1
102.4
Gross investment, or gross saving and statistical discrepancy
Imputations (118 + 119 + 120)
Excluding imputations (81 82)
81
82
83
446.3
85.1
361.3
469.2
138.9
330.3
583.0
145.1
438.0
Space rent
84
218.1
233.9
252,8
Less: Intermediate goods and services consumed
Equals: Gross housing product
85
86
34.4
183.6
34.6
199.1
35.3
217.4
87
54.3
56.9
59.7
88
89
90
91
37.3
.3
100.8
-8.5
92
11.8
11.1
10.9
93
94
2.5
9.3
2.3
8.8
2.1
8.8
Specific imputations
Owner-occupied nonfarm housing:
Capital consumption allowances with capital consumption
adjustment.
Indirect business tax and nontax liability
Subsidies
Net interest
Rental income of persons with capital consumption
adjustment.
Space rent
Less* Intermediate goods and services consumed
Equals' Gross housing product
99
16.6
18.0
19.4
38
2,344.9 2,525.4 2,824.2
11.2
11.9
12.7
1,586.1 1,675.4 1,835.2
7.4
8.5
7.9
1,578.7 1,667.4 1,826.6
Capital consumption allowances with capital consumption
adjustment.
Indirect business tax and nontax liability
100
39
40
41
101
102
1.8
3.5
2.0
4.1
2.2
4.6
103
104
105
41.2
3.7
2.8
47.7
4.1
4.1
55.4
4.6
5.0
106
1.0
1.0
1.0
107
108
.5
.5
.6
.4
.5
.5
109
Services furnished without payment by financial intermediaries
except life insurance carriers and private noninsured pension
plans:
To persons
46
47
7.7
167.8
8.0
184.2
8.0
225.7
To foreigners
Rental income of persons with capital consumption adjustment... 48
49
Imputations (91)
50
Excluding imputations (48—49)
,
13.6
8.5
22.2
12.8
9.8
22.6
10.8
14.0
24.8
51
52
53
54
55
56
272.3
150.0
122.2
273.6
168.9
104.8
300.2
194.2
106.0
I t rest received b overnment
Imputations (104)
57
58
59
Interest paid by consumers to business
Imputations ( 90 97 102)
Excluding imputations (60—61)
60
61
62
2,670.8 2,836.4 3,111.9
57.6
47.5 .53.6
2,623.3 2,782.8 3,054.3
68.1
3.7
64.4
77.1
4.1
73.0
85.4
4.6
80.9
63
64
65
73.3
55.5
61.8
-105.1 -117.1 -134.2
160.7 178.9 207.5
396.2 426.6 437.4
-.3
-.3
-.3
396.5 426.9 437.7
66
67
68
2,670.8 2,836.4 3,111.9
47.5
53.6
57.6
2,623.3 2,782.8 3,054.3
69
70
71
409.3 411.1 441.8
-39.4 -42.5 -45.6
448.8 453.6 487.4
1. Contributions for these programs, for which a social insurance fund is imputed, are set
equal to benefits paid. These payments are funded directly out of current budget.
2. Consists largely of retirement programs for Public Health Service officers and employees of
the judiciary.
3. Consists of payments for medical services for dependents of active duty military personnel
at nonmilitary facilities.
.3
.8
5.1
Rental value of buildings and equipment owned and used by
nonprofit institutions serving individuals.
233.7
• •
2.6
.3
.8
5.1
2,518.4 2,718.3 3,039.3
173.5 192.9 215.2
192.3
Imputations ( 88 96 101)
Excluding imputations (69 70)
2.6
.3
.8
5.7
36
37
175.5
Personal taxes, outlays, and saving
Imputations (91+98+103+108+109+110+111 + 119-89)
xc u ing imp a
^
2.5
Net interest
Proprietors' income with inventory valuation and capital
consumption adjustments.
45
Imputations ( 89)
Excluding imputations (63 64)
95
96
97
98
10.1
.3
9.8
13.9
.3
13.6
192.8
18.5
174.3
Imputations (91+98 + 103 + 108 + 109 + 110+111 + 119 89)
»
Capital consumption allowances with capital consumption
adjustment.
171.0
17.9
153.1
Net interest
Imputations (90+97 + 102 + 103 + 104)
Excluding imputations (51 52)
40.2
43.1
.3
.3
112.2 128.9
-9.8 -14.0
Owner-occupied farm housing:
157.3
16.9
140.4
Proprietors' income with inventory valuation and capital
consumption adjustments.
Imputations (98 + 108 + 119)
Excluding imputations (45—46)
1984
1983
Disposable personal income
Imputations (88+91+96+98+101 + 103+108+109+110+
111 + 119-89).
Excluding imputations (72 73)
42
43
... 44
Employer contributions for social insurance
Imputations (112+113 + 114+117)
Excluding imputations (42—43)
1982
Less: Intermediate goods and services consumed
Employment-related:
Food furnished employees, including military and domestic
service.
Standard clothing issued to military personnel
Employees' lodging
7.3
7.8
8.4
110
111
.1
0
.1
0
.1
0
112
113
114
115
116
117
.7
15^5
15.4
.1
.5
.7
.2
16.4
16.3
.1
.6
.8
.1
16.8
16.7
.1
.7
118
119
120
70.9
1.5
12.7
122.6
2.5
13.9
128.0
2.4
14.6
Employer contributions for social insurance for Federal
Government employees:
Workers' compensation
Unemployment insurance
TV/T 1Tf
Other 2
Military medical insurance
3
Other:
Net purchases of owner-occupied housing units...;
Margins on owner-built homes
Net purchases of buildings and equipment owned and used by
nonprofit institutions.
NOTES.—(l)Only national income and product items for which there are imputations are
shown in this table. (2)In table 8.8, imputed interest paid (line 35) is the difference between the
property income received by financial intermediaries frpm the investment of depositors' or
beneficiaries' funds and the interest paid by them to business, persons, governments, and
foreigners. In table 8.9, imputed interest (line 52)—the interest component of imputations that
affect GNP—consists of the imputed interest paid by financial intermediaries other than life
insurance carriers and private noninsured pension plans to persons and government, and the
interest paid on owner-occupied housing and on buildings and equipment owned and used by
nonprofit institutions serving individuals.
119
SURVEY OF CURRENT BUSINESS
March 1986
Table 8.10.—Relation of Capital Consumption Allowances in the National Income and Product Accounts (NIPA's) to Depreciation and Amortization as Published by the Internal Revenue Service (IRS)
Table 8.11.—Relation of Nonfarm Proprietors' Income in the National
Income and Product Accounts (NIPA's) to Corresponding Totals as
Published by the Internal Revenue Service (IRS)
[Billions of dollars]
[Billions of dollars]
Line
1982
Depreciation and amortization, IRS
1
217 0
Less: Depreciation of assets of foreign branches
Depreciation or amortization of intangible assets
Depreciation of films
Plus: Accidental damage to fixed capital other than repairable
damage.
Depreciation of mining exploration, shafts, and wells
Depreciation of employees' autos reimbursed by business
Depreciation of railroad track charged to current expense 1..
Other
2
3
4
5
36
1.4
.6
1.6
6
7
8
9
89
15
1983
Corporations
Equals: Capital consumption allowances, NIPA's
Less: Capital consumption adjustment
Equals: Capital consumption allowances with capital
consumption adjustment, NIPA's.
2638
18.8
245.0
Depreciation and amortization, IRS
13
49.6
59.5
Less: Depreciation or amortization of intangible assets
Adjustment for misreporting on income tax returns
Plus: Accidental damage to fixed capital other than repairable
damage.
Depreciation of mining exploration, shafts and wells .
Depreciation on employees' autos reimbursed by business
14
15
16
.3
5.0
.3
.3
5.1
.3
17
18
26
3
33
3
19
20
21
47.5
39
43.6
58.0
122
45.8
2976
41.0
256.6
Nonfarm sole proprietorships
1. Beginning in 1981, included in IRS depreciation (line 1).
1983
1
49.0
63.5
Plus* Posttabulation amendments and revisions *
2
3
4
82.0
22
7.7
91.5
16
2.8
5
6
7
4.6
.5
26
5.3
.5
26
8
148.5
167.7
Equals* Nonfarm proprietors' income NIPA's
24
2257
-9.2
235.0
1982
Net profit (less loss) of nonfarm proprietorships and
partnerships, plus payments to partners, IRS.
Adjustment to depreciate expenditures for mining
exploration, shafts, and wells.
Defaulters' gain
Income received by fiduciaries
10
11
12
Equals: Capital consumption allowances, NIPA's
Less' Capital consumption adjustment
Equals: Capital consumption allowances with capital
consumption adjustment, NIPA's.
Line
1984
1984
183.6
1. Consists largely of adjustments for misreporting on income tax returns, oil well bonus
payments written off, adjustments for corporate partnerships, interest income, and margins on
owner-built homes.
Table 8.12.—Relation of Net Farm Income in the National Income and
Product Accounts (NIPA's) to Net Farm Income as Published by the
U.S. Department of Agriculture (USDA)
[Billions of dollars]
Line
67.9
194
48.5
1982
1983
1984
1
24.6
15.0
34.5
Plus: Depreciation and other consumption of farm capital, USDA ..
Monetary interest received by farm corporations
..
Less: Capital consumption allowances with capital consumption
adjustment, NIPA's.
Other l
. . ..
2
3
4
23.5
7
22.0
23.1
.6
22.4
22.6
.6
22.5
5
1.0
.7
.9
Equals: Proprietors' income and corporate profits with
inventory valuation and capital consumption adjustments.
Proprietors' income
Corporate profits
6
25.7
15.6
34.4
7
8
24.6
1.1
14.3
1.3
32.1
2.3
Net farm income, USDA
.
1. Consists largely of salaries of corporate officers and Federal fines.
120
SURVEY OF CURRENT BUSINESS
March 1986
Table 8.13.—Relation of Corporate Profits, Taxes, and Dividends in the
National Income and Product Accounts (NIPA's) to Corresponding
Totals as Published by the Internal Revenue Service (IRS)
Table 8.14.—Comparison of Personal Income in the National Income
and Product Accounts (NIPA's) with Adjusted Gross Income as
Published by the Internal Revenue Service (IRS)
[Billions of dollars]
[Billions of dollars]
Total receipts less total deductions, IRS
Plus: Posttabulation amendments and revisions x
Income of organizations not filing corporation income tax
returns.
Federal Reserve banks .
Federally
sponsored credit agencies 2
Other 3
Depletion on domestic minerals .
.
Adjustment to depreciate expenditures for mining
exploration, shafts, and wells.
State and local corporate profits tax accruals
Adjustment for interest payments of regulated investment
companies.
Adjustment to bad debt reserve
Defaulters' gain
Less: Tax-return measures of:
Gains, net of losses, from sale of property
Dividends received from domestic corporations
Income on equities in foreign corporations and branches
(to U.S. corporations).
Costs of trading or issuing corporate securities
Plus' Income received from equities in foreign corporations and
branches by all U.S. residents, net of corresponding outflows.
Equals: Profits before taxes NIPA's
Federal income and excess profits taxes, IRS
Plus: Posttabulation amendments and revisions, including results
of audit and renegotiation and carryback refunds.
Amounts paid to U.S. Treasury by Federal Reserve banks
State and local corporate profits tax accruals
Less: U.S. tax credits claimed for foreign taxes paid
Investment tax credit
Other tax credits ....
.
Equals: Profits tax liability, NIPA's
Profits after tax, NIPA's (18—26)
Line
1982
1
2
3
154.8
43.8
73
4
5
6
7
8
15.4
16
-9.8
58
15.9
9
10
140
-23.2
11
12
21
160
13
14
15
28.7
182
44.8
16
17
33
280
18
19
20
169.6
86.8
-13.2
21
22
23
24
25
26
27
Dividends paid in cash or assets IRS
Plus* Posttabulation amendments and revisions
Dividends paid by Federal Reserve banks
and certain
federally sponsored credit agencies 2.
U S receipts of dividends from abroad net of payments to
abroad.
Earnings remitted to foreign residents from their
unincorporated U.S. affiliates.
Adjustment for interest payments of regulated investment
companies.
28
29
30
15.2
14.0
21.2
17.3
12
63.1
106.5
131.2
29
.7
31
125
Less* Dividends received by U S corporations
Earnings of U S residents remitted by their
unincorporated foreign affiliates.
Capital gains distributions of regulated investment
companies.
Equals' Net dividend payments, NIPA's
Undistributed profits NIPA's (27 37)
32
10
33
232
34
35
42.4
68
36
31
37
38
66.9
39.6
1983
205.0
237 6
75.2
129.8
93.6
144.0
70.8
59.0
78.1
65.9
1. Consists largely of audit profits, oil well bonus payments written off, adjustments for
insurance carriers and savings and loan association and tax-exempt interest income.
2. Consists of the following agencies: Federal land banks; Federal home loan banks and
Federal Home Loan Mortgage Corporation.
3. Consists of private noninsured pension plans, nonprofit organizations serving business, and
credit unions.
Line
1984
Personal income NIPA's
1
Less' Portion of personal income not included in adjusted gross
income.
Transfer payments except taxable military retirement
and taxable government pensions.
Other labor income except fees
.
...
Imputed income in personal income
Investment income of life insurance
carriers
and
private
noninsured pension plans l.
Investment income received by nonprofit institutions or
retained by fiduciaries.
Differences in accounting treatment between NIPA's and
tax regulations, net.
Other personal income exempt or excluded from adjusted
gross income.
Plus' Portion of adjusted gross income not included in personal
income.
Personal contributions for social insurance
.
Net gain from sale of assets
Taxable private pensions
Small business corporation income
Other types of income
Equals' BEA-derived adjusted gross income
2
Adjusted gross income (AGI) gap 2
AGI gap (line 18) as a percentage of BEA-derived AGI (line
16).
AGI of IRS (line 17) as a percentage of BEA-derived AGI
(line 16).
18
19
1982
1983
2 6708 2 836 4 3 111 9
8023 8830
3
361 1
3880
4
5
6
1614
47.5
72.9
176.9
53.6
78.5
7
30.5
28.7
8
403
486
9
88.7
108.7
10
191.0
224.8
11
12
13
14
15
16
17
112.3
350
41.5
— .9
30
20
1984
57.6
86.3
119.8 132.4
506
49.5
2.0
29
2,059.4 2,178.2
1 852 11 942 6
207.3 235.6
10.8
10.1
89.9
89.2
1. Equals imputed interest received by persons from life insurance carriers and private
noninsured pension plans as shown in table 8.8 (line 50).
2. Consists of income earned by low-income individuals who are not required to file income tax
returns, unreported income that is included in the NIPA measure, and gross errors and
omissions in lines 2 through 15. Also includes the net effect of errors in the IRS adjusted gross
income (line 17) and NIPA personal income (line 1) measures. Such errors can arise from the
sample used by IRS to estimate line 17 and from the data sources used by BEA to estimate line
121
SURVEY OF CURRENT BUSINESS
March 1986
9. Seasonally Unadjusted Estimates
Table 9.1.—Gross National Product, Quarterly Totals Not Seasonally Adjusted
[Billions of dollars]
Quarterly totals not seasonally adjusted
1982
Line
1984
1983
III
IV
III
IV
III
IV
Gross national product
1
749.2
792.1
796.7
828.0
785.9
840.0
859.6
916.0
888.4
941.4
950.4
994.5
Personal consumption expenditures
2
480.3
502.8
513.8
553.8
515.7
546.7
559.4
607.6
571.1
599.9
601.9
650.2
3
4
5
54.8
173.3
252.1
62.1
190.4
250.3
62.5
193.8
257.5
73.2
213.5
267.1
59.9
180.8
275.0
72.5
199.2
275.0
71.5
205.8
282.1
85.7
231.2
290.7
73.2
198.4
299.4
84.4
215.7
299.8
79.4
216.2
306.2
94.1
242.0
314.1
107.0
123.1
118.6
98.5
97.9
126.7
136.9
140.3
154.2
175.9
179.5
164.3
113.0
91.9
34.5
57.4
21.1
-6.0
-4.9
-1.1
122.2
94.6
36.0
58.6
27.6
.9
-.1
1.0
116.9
89.0
36.7
52.3
27.9
1.8
.9
119.7
91.1
36.1
55.0
28.6
-21.2
-19.0
-2.2
108.0
81.3
29.4
51.9
26.7
-10.2
-7.9
-2.3
126.4
88.1
30.3
57.8
38.3
.3
2.1
-1.8
133.1
87.0
32.4
54.6
46.1
3.9
. 8.5
-4.6
140.7
99.8
34.0
65.8
40.9
_ ^
-1.9
1.5
130.6
95.1
31.0
64.2
35.5
23.6
18.5
5.1
156.3
108.6
36.4
72.2
47.7
19.7
17.7
1.9
157.3
106.0
39.3
66.7
51.3
22.3
20.9
1.4
162.8
118.2
41.0
77.2
44.7
1.5
.9
.6
-8.1
Durable goods
Nondurable goods
Services
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
Change in business inventories
Nonfarm
Farm
Net exports of goods and services
Exports
Imports
Government purchases of goods and services
Federal
.'
National defense
Nondefense
State and local
7
....
10
11
12
13
14
15
8.8
11.2
1.4
5.0
7.3
-.2
16
17
92.7
83.9
96.5
85.4
88.0
86.6
84.8
79.8
85.9
78.6
88.1
87.2
95.4
92.9
97.1
93.7
102.5
97.3
113.9
95.5
114.4
98.1
113.0
18
153.2
155.0
162.9
170.7
165.1
166.9
171.4
172.4
171.9
182.1
187.9
194.8
19
20
21
22
66.3
45.6
20.8
86.8
63.4
47.7
15.7
91.6
67.5
49.2
18.2
95.4
75.5
51.3
24.1
95.2
72.5
52.4
20.1
92.6
70.1
53.7
16.4
96.7
70.1
53.8
16.3
101.2
72.1
55.7
16.4
100.3
72.3
57.1
15.1
99.7
77.0
59.1
18.0
105.1
78.2
58.9
19.2
109.7
85.5
61.9
23.6
109.4
23
24
736.6
755.2
778.6
791.2
784.4
794.9
815.2
849.2
773.6
796.1
827.6
839.8
847.3
855.7
902.4
916.4
875.5
864.8
930.2
921.7
939.3
928.1
981.8
II
III
IV
599.9
601.9
650.2
79.4
94.1
-8.8
-16.6
-18.9
-14.9
Addenda:
Gross domestic product
Final sales
Table 9.2.—Personal Consumption Expenditures by Major Type of Product, Quarterly Totals Not Seasonally Adjusted
[Billions of dollars]
Quarterly totals not seasonally adjusted
1982
Line
Personal consumption expenditures..
Durable goods
Motor vehicles and parts
Furniture and household equipment..
Other
Nondurable goods....
Food
.
Clothing and shoes
Gasoline and oil
Other nondurable goods..
Fuel oil and coal
Other
Services
Housing
,.
Household operation....
Electricity and gas....
Other
Transportation.....
Medical care
Other
1984
II
III
IV
480.3
502.8
513.8
553.8
515.7
54.8
62.1
62.5
73.2
59.9
25.0
20.3
9.5
27.9
22.6
11.7
27.8
23.3
11.4
28.2
29.5
15.5
27.9
21.5
10.4
173.3
190.4
193.8
213.5
90.6
23.8
21.5
37.4
6.6
30.8
99.4
31.2
22.2
37.6
3.6
34.0
102.2
30.6
23.2
37.7
3.2
34.5
106.6
38.8
22.2
46.0
5.3
40.7
252.1
250.3
257.5
78.2
39.8
22.9
16.9
16.6
52.1
65.5
79.2
32.2
14.7
17.4
17.5
53.7
67.8
81.0
33.5
15.6
17.9
18.0
55.4
69.5
II
III
546.7
559.4
IV
71.5
85.7
73.2
34.9
25.0
12.6
32.8
26.4
12.3
34.9
34.5
16.3
36.6
25.0
11.6
41.8
28.4
14.2
37.2
28.6
13.6
37.5
18.4
180.8
199.2
205.8
231.2
198.4
215.7
216.2
242.0
95.9
25.7
20.2
38.9
5.5
33.4
105.1
31.5
22.7
39.8
3.5
36.3
109.0
32.0
24.2
40.7
3.3
37.4
112.0
46.0
23.0
50.1
5.2
44.9
104.4
28.7
21.7
43.6
6.7
37.0
113.2
35.6
23.3
43.6
3.6
40.0
115.8
34.3
23.2
42.9
3.0
39.9
118.3
48.8
22.5
52.4
4.6
47.8
267.1
275.0
275.0
282.1
290.7
299.4
299.8
306.2
314.1
82.6
38.0
19.6
18.3
17.6
56.5
72.4
83.9
42.3
23.7
18.7
17.6
57.6
73.6
85.1
35.1
16.2
18.9
18.4
58.7
77.7
86.7
37.0
18.2
18.9
19.4
59.9
79.0
41.5
22.2
19.3
19.2
61.2
80.4
89.9
46.0
26.1
19.9
19.4
62.6
81.5
91.9
37.8
17.4
20.4
20.7
64.2
85.2
93.9
39.0
18.3
20.6
21.1
65.7
86.6
95.6
43.2
22.7
20.5
20.9
67.0
87.5
122
SURVEY OF CURRENT BUSINESS
March 1986
Table 9.3.—Federal Government Receipts and Expenditures, Quarterly Totals Not Seasonally Adjusted
[Billions of dollars]
Quarterly totals not seasonally adjusted
1982
Line
Receipts
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax accruals
Contributions for social insurance
. .
Expenditures
Purchases of goods and services
National defense
Nondefense
Transfer payments
To persons
To foreigners
.".
I
II
1984
1983
III
IV
I
II
III
IV
II
I
IV
III
1
155.7
176.0
159.0
144.6
159.1
172.3
168.6
158.1
179.7
189.6
182.7
173.1
2
3
4
5
69.2
11.3
12.3
62.9
87.9
13.3
12.1
62.8
78.6
12.8
11.8
55.8
68.7
11.7
11.9
52.3
70.6
10.4
11.3
66.8
76.4
15.3
13.4
67.1
77.1
17.0
13.6
60.9
70.8
16.5
13.3
57.5
71.6
18.1
13.0
77.0
78.8
21.1
14.0
75.7
82.8
17.9
14.6
67.4
78.1
17.4
14.2
63.4
6
187.7
188.0
194.5
211.0
208.1
207.9
206.6
214.9
218.5
220.1
222.0
237.3
7
8
9
66.3
45.6
20.8
63.4
47.7
15.7
67.5
49.2
18.2
75.5
51.3
24.1
72.5
52.4
20.1
70.1
53.7
16.4
70.1
53.8
16.3
72.1
55.7
16.4
72.3
57.1
15.1
77.0
59.1
18.0
78.2
58.9
19.2
85.5
61.9
23.6
10
11
12
78.0
76.0
1.9
78.8
77.2
1.6
81.1
79.4
1.7
86.2
83.7
2.5
87.8
86.3
1.5
88.2
86.5
1.7
85.2
83.2
2.0
87.3
84.0
3.3
88.8
86.8
2.0
88.5
86.5
2.0
87.7
85.0
2.7
90.2
86.1
4.1
Grants-in-aid to State and local governments
13
20.3
21.2
20.3
22.1
21.0
21.4
21.3
22.6
22.5
22.9
22.7
25.5
Net interest paid
Interest paid
To persons and business
To foreigners
Less: Interest received by government
14
15
16
17
18
20.2
24.2
19.7
4.5
4.0
21.0
25.1
20.7
4.4
4.0
21.6
25.9
21.2
4.7
4.2
21.7
26.0
21.3
4.7
4.3
22.1
26.4
22.0
4.4
4.3
22.7
27.3
23.0
4.4
4.6
24.1
28.9
24.4
4.5
4.8
25.4
30.2
25.6
4.6
4.7
26.7
31.7
27.1
4.7
5.0
27.7
32.9
28.1
4.8
5.2
29.9
35.2
30.1
5.1
5.3
31.2
36.5
31.2
5.3
5.3
Subsidies less current surplus of government enterprises
Subsidies
. . . .
Less* Current surplus of government enterprises
19
20
21
3.0
3.5
.5
3.6
3.5
1
3.9
3.2
7
5.5
4.8
7
4.8
4.2
-.6
5.2
4.8
-.3
5.7
4.4
-1.4
7.5
8.3
.8
8.3
8.4
.1
4.1
4.0
_ i
3.6
3.7
.2
5.0
5.8
.7
Less: Wage accruals less disbursements
Surplus or deficit ( — ), national income and product accounts
22
0
0
0
0
0
23
-32.0
-12.0
-35.5
-66.3
-49.0
-.3
-35.6
-.1
-38.0
.1
0
0
0
0
-56.8
-38.9
-30.5
-39.3
-64.2
III
IV
Table 9.4.—State and Local Government Receipts and Expenditures, Quarterly Totals Not Seasonally Adjusted
[Billions of dollars]
Quarterly totals not seasonally adjusted
II
I
Receipts
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax accruals
Contributions for social insurance
.
Federal grants-in-aid
Expenditures
1984
1983
1982
Line
IV
III
I
II
IV
III
I
II
1
108.5
112.7
106.5
121.6
115.7
119.9
118.9
133.2
132.1
134.0
128.9
144.7
2
3
4
5
24.9
3.3
51.3
8.7
26.9
3.8
52.0
8.9
26.1
3.6
47.5
9.1
27.0
3.4
60.0
9.2
27.4
2.9
55.1
9.4
29.6
4.1
55.3
9.6
29.0
4.5
54.3
9.7
30.0
4.4
66.2
9.9
31.5
4.7
63.3
10.1
34.2
5.4
61.2
10.3
32.1
4.6
59.0
10.5
32.6
4.5
71.3
10.7
6
20.3
21.2
20.3
22.1
21.0
21.4
21.3
22.6
22.5
22.9
22.7
25.5
7
98.1
103.0
107.0
106.2
104.3
109.0
113.3
112.5
112.2
117.9
122.5
122.8
109.4
Purchases of goods and services
8
86.8
91.6
95.4
95.2
92.6
96.7
101.2
100.3
99.7
105.1
109.7
Transfer payments to persons
9
19.1
19.9
20.4
20.4
21.1
21.7
21.7
22.1
22.7
23.3
22.9
24.1
Net interest paid
Interest paid to persons and business
Less' Interest received by government
10
11
12
-5.6
6.3
12.0
60
6.6
12.6
63
6.9
13.2
-6.5
7.2
13.7
-6.5
7.6
14.1
-6.5
7.9
14.4
-6.6
8.3
14.8
-6.6
8.6
15.2
-6.8
8.9
15.7
-6.8
9.2
16.0
-6.7
9.6
16.2
-6.7
9.9
16.7
Less' Dividends received by government
13
.7
.7
.8
.8
.7
.7
.7
.7
.8
.8
.9
.9
14
15
16
-1.6
.1
1.7
18
.1
1.9
17
.1
1.8
22
.1
2.3
21
.1
2.3
23
.1
2.4
24
.1
2.5
25
.1
2.7
-2.7
.1
2.8
-2.8
.2
3.0
-2.6
.2
2.7
-2.9
.2
3.1
Subsidies
Less' Current surplus of government enterprises
Surplus or deficit (— ), national income and product accounts
17
0
0
0
0
0
0
0
0
0
0
0
0
18
10.4
9.8
-.5
15.4
11.4
11.0
5.6
20.6
19.9
16.1
6.5
21.9
123
SURVEY OF CURRENT BUSINESS
March 1986
Table 9.5.—Foreign Transactions in the Natioral Income and Product Accounts, Quarterly Totals Not Seasonally Adjusted
[Billions of dollars]
Quarterly totals not seasonally adjusted
1982
Line
1984
1983
IV
III
III
IV
IV
1
92.7
96.5
88.0
84.8
85.9
88.1
87.2
92.9
93.7
97.3
95.5
98.1
Exports of goods and services
Merchandise
Services
:
Factor income
Other
2
3
92.7
56.1
36.6
22.8
13.8
96.5
57.6
39.0
24.5
14.5
88.0
50.7
37.3
22.6
14.7
84.8
49.7
35.1
21.8
13.3
85.9
50.3
35.6
20.9
14.7
88.1
51.6
36.5
21.8
14.7
87.2
49.3
38.0
22.7
15.3
92.9
54.8
38.1
24.3
13.8
93.7
54.8
38.9
24.7
14.2
97.3
57.4
40.0
25.3
14.7
95.5
54.5
41.0
25.4
15.6
98.1
57.5
40.6
26.2
14.4
Capital grants received by the United States (net)
7
Receipts from foreigners
5
6
Payments to foreigners
0
0
0
0
0
0
0
0
0
0
0
0
92.7
96.5
88.0
84.8
85.9
88.1
87.2
92.9
93.7
97.3
95.5
98.1
Imports of goods and services
Merchandise
Services
Factor income
Other..
9
10
11
12
13
83.9
63.3
20.7
10.1
10.5
85.4
62.1
23.3
11.1
12.2
86.6
63.9
22.7
10.3
12.4
79.8
60.2
19.5
9.0
10.6
78.6
59.5
19.1
8.6
10.5
66.1
22.2
9.4
12.8
95.4
71.0
24.4
10.4
14.0
97.1
74.9
22.3
10.7
11.6
102.5
79.2
23.4
11.7
11.6
113.9
85.6
28.3
14.0
14.3
114.4
84.6
29.7
14.3
15.4
113.0
86.6
26.5
13.5
13.0
Transfer payments (net)
From persons (net)
From government (net)
14
15
16
2.3
.3
1.9
1.9
.3
1.6
2.0
.3
1.7
2.8
.3
2.5
1.7
.2
1.5
1.9
.3
1.7
2.2
.3
2.0
3.6
.3
3.3
2.3
.3
2.0
2.3
.3
2.0
2.9
.3
2.7
4.5
.4
4.1
Interest paid by government to foreigners
17
4.7
4.4
4.4
Net foreign investment
18
4.4
2.0
4.9
4.7
-5.3
-2.6
1.2
4.5
-14.8
4.6
-12.5
4.8'
4.7
-15.7
-23.6
5.3
5.1
-26.9
-24.8
III
IV
Table 9.6.—Corporate Profits With Inventory Valuation Adjustment, Quarterly Totals Not Seasonally Adjusted
[Billions of dollars]
Quarterly totals not seasonally adjusted
1982
Line
1983
III
Corporate profits with inventory valuation adjustment
Profits before tax
Profits tax liability
Profits after tax
Inventory valuation adjustment....
IV
1984
III
IV
37.4
41.7
37.6
48.7
52.6
56.2
54.4
62.0
57.4
58.5
44.8
41.3
43.0
38.8
40.4
41.5
39.2
51.8
56.3
57.7
58.3
64.3
57.0
58.1
14.6
25.7
17.0
27.7
16.4
26.6
15.1
26.4
13.3
25.9
19.4
32.4
21.5
34.7
21.0
36.7
22.8
35.5
26.4
37.8
22.5
34.5
21.9
36.2
-2.9
-3.1
-1.6
-3.1
-2.2
BEA Publications
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Survey of Current Business. Contains estimates and analyses of U.S.
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CURRENT BUSINESS STATISTICS
The statistics here update series published in BUSINESS STATISTICS: 1984, a statistical supplement to the SURVEY OF CURRENT BUSINESS. That volume
(available from the Superintendent of Documents for $13.00, stock no. 003-010-00160-7) provides a description of each series, references to sources of
earlier figures, and historical data as follows: For all series, monthly or quarterly, 1981 through 1984, annually, 1961-84; for selected series, monthly or
quarterly, 1961-84 (where available).
The sources of the series are given in BUSINESS STATISTICS: 1984; they appear in the main methodological note for each series, and are also listed
alphabetically on pages 143-144. 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 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
1985
Annual
Unite
timis.
1984
1985
Jan.
Feb.
Mar.
Apr.
May
June
1986
July
Aug.
Sept.
33099
Oct.
Nov.
Dec.
Jan.
Feb.
GENERAL BUSINESS INDICATORS
PERSONAL INCOME BY SOURCE *
Seasonally adjusted, at annual rates:
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 contributions for
social insurance
.
do
Total nonfarm income
do
DISPOSITION OF PERSONAL INCOME t
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 (1982)
dollars
bil $..
Personal consumption expenditures in
constant (1982) dollars
do
Durable goods
do
Nondurable goods
do
Services
do....
Implicit price deflator for personal consumption
expenditures
index 1982 — 100
INDUSTRIAL PRODUCTION 0
Federal Reserve Board Index of Quantity Output
Not Seasonally Adjusted
Total index
1977 — 100 .
By industry groupings:
Manufacturing
Nondurable manufactures
Durable manufactures
Seasonally Adjusted
"' \al index
By market groupings:
Products total
Final products
Consumer goods
r
3 330 8 r3 347 9 r3 384 3 3387 1
3,1119
32935
32173
3,247.2
3,258.2
3,288 6
32712
32805
32900
32955
18349
19605
19054
1 9165
1 9309
19405
1 9468
1 9585
1 9598
1 969 3 1 981 2 1 991 5 2 003 6
5779
4389
441.6
4694
3461
1934
6073
4576
468.8
5136
3708
2064
5997
4541
455.2
4900
3605
1997
5980
4514
460.5
4953
3627
2009
6026
4550
463.9
5002
3642
2022
6032
4539
463.8
5045
3690
2035
6051
4550
467.3
5069
3674
2048
6058
4558
471.0
5128
3690
2061
605 0
455 5
469.1
514 9
3708
2073
608 0
457 6
470.6
518 0
3727
2085
609 9
4583
473.9
523 1
3743
2095
614 8
4632
473.9
526 9
3758
2105
32 l
2016
212
2210
227
2104
329
213 1
238
2152
404
2169
14 4
2186
138
2188
122
222 1
11 6
2248
129
228 9
17 5
227 2
r
10.8
746
442.2
4547
13.8
789
456.3
4845
10.3
775
461.7
4751
10.9
779
463.0
4782
11.7
783
463.8
4795
12.8
786
462.7
4809
13.9
787
461.0
4812
14.9
788
457.9
4809
15.5
789
453.3
4900
16.2
79 1
449.8
4860
11.7
792
448.6
4884
16.0
794
450.1
4898
r
1324
30533
1491
3246 1
1455
3 1680
1462
3 1880
1472
32082
1476
32219
148 1
32305
149 1
32405
149 1
1497
3 251 9 32581
1504
32712
3 1119
32935
32173
3 247 2
3 2582
3 288 6
3271 2
3 280 5
3 290 0
3 295 5
3 309 9
4418
2,670 2
2,497 7
2,423.0
331 1
8724
1,219 6
4927
28008
26718
2,582 3
3615
9122
13086
4688
27486
25923
25103
3454
8934
12715
733
874
79 9
13
1725
21
1290
21
1562
21
1262
6.5
4.6
5.3
r
2028 6
2038 9
614 7
463 1
476.8
531 8
3803
211 5
621 0
r
467 9
r
479.7
r
5384
3830
2124
623 4
467 2
480.7
541 3
383 2
2133
620 2
465 1
485.1
548 7
384 8
214 3
r
21 0
226 9
r
r
31 4
228 7
160
233 0
182
236 0
13.9
799
451.7
4914
r
17.8
80 1
452.4
4925
18.1
809
452.9
5015
18.2
823
453^2
503 0
r
151 1
151 9
153 1
3 287 5 r3 301 0 r3 326 9
157 2
3 3450
157 8
3 3620
r
3 330 8 r3 347 9 r3 384 3
3 387 1 3 406 3
r
r
533 1
2725 1
26150
25302
3564
8958
12781
4798
2 808 8
26300
25440
347 1
9125
1 2844
4137
28575
26630
25755
3692
9095
12968
4936
27869
26587
25704
3532
9086
13086
4941
27959
26656
2,575 5
3553
9092
13110
4980
27975
26974
26062
3783
9129
13150
827
84 1
856
865
879
890
910
927
936
94 5
21
1101
18
1788
18
1945
18
1282
22
1303
22
1001
22
774
r
r
r
4.8
5.0
5.8
5.9
5.4
4.3
3.7
24594
2,530 9
2567 1
24985
25042
23519 r2r 319 9 r2r 319 2 r2r 352 1 23363
376 8
341 1 342 2
356 8
351 3
r
8547
8549
850 5
8479
8484
1 1204 1 123 91 129 01 144 8 1 1366
5032
27440
26177
25346
3527
8981
12837
81 1
5026
28073
27299
26366
3943
9216
1 320 7
3 406 3
2022 2
5048
5082
5125
5043
2 882 8
2 756 5
2 658 9
368 8
3557
9260
9253
931 4
933 5
1 329 3 1 341 11 363 3 1 358 7
r
2 826 0
T
2 706 0
r
2r 611 1
r
3.5
r
r
2 839 7 rr2 871 8
r
2 719 3 r2 766 5
r
2r 623 6 2r 669 8
357 2
373 0 r
r
22
120 0
22
1204
22
105 3
T
r
r
38
4.0
41
504 9
2901 5
27658
26673
367 9
924 4
1 375 0
954
96 3
22
1263
135 6
22
42
r
r
24684
25088
25018
2487 1
2 504 0
25014
22399
3186
8280
1,093 3
23130
345 3
8469
1,120.8
22849
3315
8405
1,112.9
22973
3357
8433
1,118.2
22835
337 9
8358
1,109.9
22923
3323
848.8
1,111.2
23138
350 9
846.4
1,116.5
23044
337 6
8450
1,121.8
23066
340 2
8456
1,120 7
23303
3609
8492
1,120.2
1082
111 6
1099
1103
1108
1110
1113
1115
1117
111 8
112 1
112 5
1218
1245
1200
123.7
124.1
122.9
123.3
127.1
1222
1274
1292
1270
do
do....
do .
1109
1239
122.5
1248
1106
127 1
125.6
128.2
1142
121.2
117.1
124.2
1168
125.2
121.8
127.6
1118
126.4
122.5
129.2
107.6
125.8
122.4
128.2
1067
126.5
123.7
128.5
1106
130.2
128.7
131.2
1084
1245
124.6
124.4
111 6
1304
131.7
129.4
1114
1326
134.1
131.4
1087
1303
130.6
1301
108 1
1282
127.2
1288
do....
121.8
124.5
123.6
123.7
124.0
124.1
124.1
124.3
124.1
125.2
125.1
124.4
125.4
126.3
do
do
do .
1271
1278
118.2
1317
132.0
120.7
129.6
130.4
118.8
129.8
130.4
119.1
130.3
130.8
119.8
130.8
131.3
119.5
131.4
131.7
120.0
131.6
131.6
120.4
131.6
131.8
120.1
133.0
133.3
121.5
133.1
133.3
121.8
1318
1319
120.8
1335
1337
1227
1341
1342
124 0
2 510 9 2 510 3 2 530 1 2533 1
113 1
1249
113 5
113 8
1221
P
125 5
110 9
124 2
122.6
1252
P
1123
124 6
"122.8
P
1260
1126
127 9
126.5
128 9
"126.5
1257
P
133 9
1336
124 4
122 8
P
1346
"1346
P
1243
See footnotes at end of tables.
S-l
151-498 0 - 86 - SI
S-2
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
Annual
.,
IT
units
1984
March 1986
1986
1985
1985
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
117.6
120.6
119.9
108.0
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION Q— Continued
Seasonally Adjusted — Continued
By market groupings — Continued
Final products — Continued
Durable consumer goods
1977 = 100...
Automotive products
do....
Autos and trucks, consumer
do....
Autos, consumer
do....
Trucks, consumer
do....
Home goods
do
Nondurable consumer goods
do
Consumer staples.. .
do
Consumer foods and
tobacco
do ...
Nonfood staples
do....
Equipment
do ...
Business
and
defense
equipment .
.
do
Business equipment
do ...
Construction, mining,
and farm
do
Manufacturing
do
Power
do
Commercial
.
do .
Transit
do ....
Defense and space equipment
do....
Intermediate products
do
Construction supplies
do
Business supplies
. ,.
do
Materials
do
Durable goods materials . ..
do .
Nondurable goods materials
do ...
Energy materials
do....
By industry groupings:
Mining and utilities
do....
Mining
do
Metal mining
do
Coal
. .
.
do .
Oil and gas extraction #
do ....
Natural gas
Stone and earth minerals
Utilities
Electric
Manufacturing
Nondurable manufactures
Foods
T
A
t'l
11
1
H t
Hrt
112.6
109.8
103.0
93.2
121.2
114.8
120.2
125.0
112.9
115.1
112.0
98.9
136.3
111.3
123.6
129.4
112.8
114.2
112.5
102.5
131.1
111.6
121.1
126.6
112.8
115.4
111.7
100.7
132.0
110.9
121.4
126.9
113.5
115.1
110.5
101.3
127.5
112.2
122.1
127.9
111.5
113.1
109.0
100.5
124.7
110.2
122.5
128.5
111.8
113.6
109.6
98.1
130.9
110.4
123.1
129.0
112.0
113.4
109.4
97.0
132.3
110.9
123.5
129.6
111.3
115.0
113.7
101.1
137.2
108.4
123.4
129.3
114.0
120.0
120.2
101.3
155.4
109.5
124.2
130.3
112.9
117.8
116.6
98.8
149.7
109.3
125.1
131.0
111.4
112.9
108.7
92.3
139.1
110.2
124.3
130.1
115.5
116.8
113.7
94.9
148.6
114.5
125.4
131.0
116.9
116.6
112.0
99.9
134.5
117.1
126.7
132.5
"116.7
"118.1
"116.2
"103.6
"139.5
"115.8
"127.2
"132.8
126.2
123.9
140.5
129.7
129.0
147.0
127.1
126.0
145.7
127.8
126.0
145.3
128.0
127.7
145.4
129.4
127.6
146.9
128.9
129.1
147.1
130.5
128.7
146.6
130.1
128.5
147.3
130.8
129.7
149.0
131.5
130.5
148.6
129.5
130.6
146.6
130.7
131.2
148.3
132.3
132.6
147.8
"131.8
"133.8 ""l33"4
145.9
"148.1
139.6
134.9
147.8
141.2
145.5
140.4
145.6
140.0
146.1
140.2
147.7
142.0
147.9
141.9
147.4
140.7
147.9
141.3
149.7
143.0
149.4
142.2
147.5
139.6
149.7
141.7
149.2
141.2
"149.9
"142.4
66.6
109.4
79.2
209.2
98.6
157.9
124.9
114.0
134.2
114.6
122.3
111.2
104.0
67.7
112.8
83.8
219.0
106.1
173.6
130.6
118.9
140.6
114.7
121.8
112.3
104.4
68.8
111.6
82.5
217.4
106.7
165.3
126.8
116.2
135.9
115.4
124.2
110.9
103.9
68.3
112.3
81.8
217.0
104.9
167.3
127.7
115.7
137.9
115.4
123.3
111.4
104.9
67.1
112.0
79.6
218.9
104,5
169.0
128.6
116.9
138.6
115.5
123.3
110.3
106.2
68.4
112.4
81.8
221.8
106.0
170.1
129.3
117.4
139.4
115.0
122.8
110.4
105.3
67.4
113.1
82.8
222.8
102.9
171.2
130.3
118.1
140.7
114.2
120.7
111.3
105.3
67.7
111.9
84.1
219.6
103.4
173.4
131.4
119.2
141.7
114.3
120.8
111.8
105.1
68.6
113.5
85.6
219.5
103.3
173.9
130.7
119.4
140.3
113.8 •
120.2
112.8
103.5
67.2
115.1
84.5
222.8
106.0
175.5
132.0
121.5
140.9
114.5
121.8
113.5
102.7
67.0
114.8
85.1
219.4
108.3
177.5
132.3
121.3
141.7
114.2
120.2
114.7
103.4
65.9
111.7
85.5
213.9
109.7
178.7
131.5
120.0
141.2
114.2
120.4
113.4
104.2
68.2
112.8
84.7
217.7
111.2
180.7
132.7
120.9
142.7
114.3
121.7
113.0
102.5
'68.3
112.5
'87.1
'217.9
106.7
180.7
133.7
120.7
144.9
115.7
121.9
114.6
105.8
"67.0
"113.6
"86.0
"217.7
"114.2
"179.5
"134.8
"123.3
"144.7
"115.4
"122.3
^114.4
"104.0
110.9
110.9
77.0
127.6
109.1
106.1
89.9
116.1
110.9
116.8
123.9
122.5
127.1
100.7
103.7
102.8
127.3
147.9
121.7
87.4
143.2
76.7
124.8
109.1
136.7
112.3
82.4
73.5
99.3
102.8
142.0
172.4
113.6
105.6
136.9
110.6
109.0
74.9
127.5
106.4
108.1
87.5
118.3
113.2
119.4
127.1
125.6
131.0
100.2
103.0
101.9
127.5
155.4
127.1
86.8
146.9
70.8
128.2
112.9
141.6
114.9
80.6
70.5
99.6
107.9
146.4
169.3
123.2
112.8
139.8
111.4
110.5
70.5
118.5
110.7
108.2
92.3
118.5
113.0
118.9
125.9
123.2
128.2
97.2
93.6
102.6
128.3
150.4
125.7
84.1
145.9
69.1
127.8
109.2
136.5
112.7
81.7
71.0
102.0
106.4
145.0
176.0
120.4
113.0
138.7
111.9
109.5
74.5
121.5
108.2
107.5
90.2
119.8
115.8
121.9
125.8
123.8
129.4
103.8
98.5
103.1
126.4
150.3
125.8
84.0
145.7
69.2
127.2
109.1
139.0
110.5
80.2
68.5
102.2
107.6
144.9
173.2
120.5
112.5
138.7
111.8
110.5
83.6
131.9
106.8
108.4
89.4
118.7
113.9
119.5
126.3
123.9
128.5
103.4
99.4
101.3
126.9
152.6
126.5
84.7
144.1
69.4
128.0
109.5
139.2
111.4
81.8
73.2
98.1
108.6
146.5
173.1
120.8
111.3
139.0
111.1
109.6
81.2
128.5
106.5
107.1
85.8
118.5
113.6
119.1
126.6
124.3
130.8
98.4
99.0
100.2
125.1
154.2
125.8
87.3
144.9
69.9
128.2
110.9
141.0
114.5
81.4
71.9
99.3
109.1
148.9
168.9
120.7
110.9
138.5
111.3
109.8
78.3
128.7
106.9
108.3
86.5
118.7
113.7
119.5
126.6
124.7
131.4
95.7
100.0
100.3
124.1
155.4
126.7
87.4
144.3
71.0
127.9
112.2
142.0
116.3
76.4
65.4
97.2
108.3
149.1
169.3
120.9
110.5
139.9
111.6
110.6
77.5
134.0
106.9
108.2
87.5
117.9
113.4
119.4
126.7
125.5
131.8
98.9
103.3
99.2
127.1
156.7
126.4
87.1
145.5
71.5
127.6
113.5
141.9
116.1
78.3
67.6
98.5
107.4
145.6
169.5
121.8
110.5
140.7
109.4
108.7
60.9
128.0
106.9
109.1
85.9
116.6
110.7
117.5
126.9
125.6
132.2
96.0
104.1
100.6
129.0
154.3
126.4
88.3
145.6
72.2
127.9
113.0
145.3
115.1
79.0
68.7
98.5
107.3
147.5
165.7
123.7
112.8
141.1
109.1
108.3
73.1
127.7
105.5
107.8
83.7
117.7
110.3
116.7
128.2
126.6
132.6
97.7
106.3
100.4
127.5
156.3
128.2
88.2
148.0
72.7
129.4
114.8
144.3
116.2
82.0
71.6
101.6
107.8
149.2
166.1
126.8
116.8
141.8
110.3
108.4
71.4
126.3
106.0
108.2
86.1
119.3
113.2
120.6
127.7
126.9
132.5
97.8
106.7
101.8
128.6
156.2
129.0
85.9
148.6
72.3
128.3
115.9
143.2
116.2
80.3
69.7
100.4
107.5
146.5
165.1
126.2
115.3
139.4
109.9
108.4
74.2
130.1
104.8
108.3
86.3
120.4
112.4
119.3
127.2
126.4
130.7
105.3
104.9
102.6
127.3
157.0
127.9
87.7
148.7
71.4
127.7
116.5
141.9
115.6
83.1
74.4
99.5
108.4
143.0
165.1
124.5
111.7
139.8
108.9
106.9
78.3
125.5
103.5
107.3
86.5
119.0
112.2
118.7
128.4
127.3
131.4
104.5
108.0
103.9
128.2
159.0
128.0
87.3
150.5
72.1
129.2
115.6
144.1
115.2
r
83.6
75.3
'99.3
107.9
145.6
168.9
126.5
114.5
140.7
110.2
107.5
'73.4
128.0
104.7
108.7
39.6
114.0
114.6
121.7
129.2
128.3
132.1
105.4
106.2
106.5
131.3
161.7
128.3
'88.7
150.0
'69.9
129.8
116.5
142.1
117.5
'81.4
'71.9
'99.3
108.8
145.9
171.9
126.8
115.4
140.6
108.1
"109.5
"107.5
104.3
"75.0
"130.6 ""l26"l
"103.6
100.2
"108.1
mil $ . 4,940,798 5,104,187
386,374
392,159
430,696
425,937
442,179
433,541 409,121 432,109
431,396
440,377
do....
do
do ....
do
do
do . .
do . .
H
d
Paper and products
Printing and publishing
Chemicals and products
Petroleum products
Rubber and plastics products
Leather and products
Durable manufactures
Lumber and products
Furniture and fixtures
Clay, glass, and stone products
Primary metals
Iron and steel
do....
do ....
do
do....
do . . . .
do....
do....
do....
do....
do ....
do ....
do....
Fabricated metal products
Nonelectrical machinery
.
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments
BUSINESS SALES
Mfg and trade sales (unadj ) total
Mfg. and trade sales (seas, adj.),
total
do ....
do
do....
do . . . .
do....
do ...
D i ahlp enods industries
Nondurable goods industries
Retail trade total
Durable goods stores
Nondurable goods stores
Durable goods establishments
Nondurable goods establishments
Mfg. and trade sales in constant (1982)
dollars (seas adj ) total §
Retail trade
See footnotes at end of tables.
do...
do
do ...
do
do ...
do ...
do...
do ...
bil $
do ...
1
1
4,940,798 5,104,187
' 2,274,932 7 2,341,220
1,182,019 1,243,793
1,092,913 1,097,427
J
1,297,015 '1,377,925
511,621
464,287
832,728 866,304
1
1
1,368,851 1 384 754
631,819
613,382
752,935
755,469
430,763 '449,535
"118.5
"112.8
"119.4
"129.7
"129.4
"133.5
"104.8
"107.8
"132.2
"162.4
"129.4
"93.0
"150.2
"68.9
"129.8
"142.9
"119.2
"83.4
"73.5
"102.0
"109.7
"144.6
"167.9
"129.0
"118.1
"141.5
401,625
417,350 418,667 420,776 426,472 428,275 418,378 422,483 430,417 428,998 426,033 431,965 '434,952 433,541
191,724 192,261 194,303 193,509 194,638 193,871 193,793 196,593 194,229 197,229 200,131 199,084 199,438
101,966 101,724 102,116 102,068 102,718 102,657 102,478 105,311 103,656 106,479 107,007 105,777 106,102
93,124 '93,307
90,573 90,750
93,336
91,315 91,282
91,920 91214
91,441
92,187
89,758 90,537
110,972 112,096 111,854 115,351 114,884 113,730 114,417 116,977 119,538 114,860 115,409 117,567 117,364
41,923
46,592
42,187 '43,994
44,291
42,341 44,277
40,622 41,073 40,765 42,932 42,789 42,064
72,937
72,700
72,946
73,222 '73,573
73,073
72,095 71,666
72,076
72,419
70,350 71,023 71,089
114,654 114,310 114,619 117,612 118,753 110,777 114,273 116,847 115,231 113,944 116,425 118,301 116,739
52,934
53,691
'54,590
53,429
52,478
53,662
54,274
50,429
51,419
50,874
52,729
53,136
52,582
63,418
62,753 61,010 . 62,734 '63,711
64,479
62,854
63,077
61,890
64,476
60,348
62,072
63,436
404.7
185.7
108.0
111.0
406.5
186.6
109.0
110.9
407.9
188.0
108.5
111.4
412.6
187.2
111.0
114.4
415.3
188.1
111.3
115.9
406.4
187.3
110.4
108.7
409.9
187.7
110.8
111.4
418.0
190.6
113.2
114.3
417.8
188.0
116.0
113.7
'413.5
190.6
110.5
112.4
'416.6
192.7
110.4
113.6
'418.2
190.7
112.5
115.0
417.3
191.6
111.8
113.9
115.3
126.9
132.8
148.7
141.3
112.9
'85.1
'216.0
112.8
177.6
134.8
122.5
114.5
120.8
113.8
104.0
114.4
128.8
128.9
161.4
'91.1
128.8
'81.5
109.0
143.5
166.6
128.4
118.8
141.3
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
S-3
SURVEY OF CURRENT BUSINESS
March 1986
.. .
units
Annual
1984
1986
1985
Jan.
1985
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS INVENTORIES
Mfg. and trade inventories, book value, end of
period (unadj.), total
mil $
566 119
576 673
Mfg. and trade inventories, book value, end of
period (seas adj ) total
mil $
573 434
584 005
Manufacturing total
do
285 709
281 884
Durable goods industries
do
191 109
189'l64
Nondurable goods industries..
do
92?720
94600
Retail trade, total
do
155517
165 714
74582
Durable goods stores
do
81 818
Nondurable goods stores
do ....
83,896
80,935
Merchant wholesalers, total
do.
136 407
132,208
Durable goods establishments
do..
87,226
86,436
45772
Nondurable goods establishments
do
49181
Mfg. and trade inventories in constant (1982)
dollars, end of period(seas. adj.),total § .. bil $
Manufacturing
. do
Retail trade
do
Merchant wholesalers
do
BUSINESS INVENTORY-SALES RATIOS
1 34
1 36
Manufacturing and trade total
ratio
1.46
Manufacturing, total
do....
1.45
1.85
Durable goods industries
do....
1.85
53
Materials and supplies
do
55
87
85
Work in process
do
.45
Finished goods
do ..
.45
Nondurable goods industries
do .
1.03
1.02
Materials and supplies
do....
.39
.41
16
Work in process
do
16
47
Finished goods
.
do
46
Retail trade total
.
do
139
137
1.82
Durable goods stores
do
183
1.14
Nondurable goods stores
do .
1.12
1.17
Merchant wholesalers, total
do.
1.11
1.65
1.60
Durable goods establishments
do....
.76
.72
Nondurable goods establishments
do ....
Manufacturing and trade in constant (1982)
dollars, total §
....
do
Manufacturing
. . do
Retail trade
...do ....
Merchant wholesalers
do
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Shipments (not seas adj ) total
mil $ 2 274,932 2,341,220
1 182,019 1,243,793
Durable goods industries, total ....
do
54,993
57,255
Stone, clay, and glass products
do....
131,152
125,777
Primary metals
do ....
53836
52519
Blast furnaces steel mills
do
139 213
168 953
Fabricated metal products
do
210 168
212 620
Machinery except electrical. .
do
185,514
182,534
Electrical machinery
do
288,306
Transportation equipment
do ....
313,427
203,371
191,493
Motor vehicles and parts
do....
53,511
56,743
Instruments and related products
do....
1 092 913 1 097 427
Nondurable goods industries total
do
295 050
296 142
Food and kindred products
do
16918
20606
Tobacco products
. . . ...
do
55078
52627
Textile mill products
do
95944
97565
Paper and allied products . .
do
214,345
211 833
Chemical and allied products
do
200,588
194,030
Petroleum and coal products
do. .
52,147
48,246
Rubber and plastics products
do....
Shipments (seas, adj.), total
do....
By industry group:
Durable goods industries, total -fr.. . .. 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
Transportation equipment
Motor vehicles and parts
Instruments and related
do
. . do
do....
Nondurable goods industries total %'Food and kindred products
Textile mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
See footnotes at end of tables
do .
do ...
do
do ....
do
do .
568 43?
577 064
580 273
582 604
579 140
577 841
575 766
574 575
578 331
590 970
593 692 r576 673
r
580 581
584 005
281 884
189
164
r
92 720
165714
r
81 818
r
83,896
136,407
'87,226
r
49 181
588 067
280 657
188 559
92098
169,160
84,049
85,111
138,250
88,703
49547
r
6398
r
643.1
328.4
1642
1504
575 802
285 785
192 153
93632
157 770
76393
81,377
132 247
86,423
45824
578 940
286 146
192 030
94 116
159 163
76838
82,325
133,631
87,589
46042
578 768
286 171
192 355
93816
158 732
77401
81,331
133,865
87,084
46781
580 201
286 049
192 475
93574
160 184
78312
81,872
133 968
87,451
46517
577 781
284 900
191 546
93354
158 867
77001
81,866
134,014
86,966
47048
579 665
285 678
192 239
93439
158 508
77344
81,164
135 479
87,357
48122
580 116
285 036
192 163
92873
159 239
76894
82,345
135 841
87,375
48466
578 182
284 688
192 037
92651
157 994
75'823
82,171
135 500
87180
48320
578 918
284 030
191 930
92 100
159 921
76770
83,151
134 967
86,699
48268
582 173
282 444
190'508
91936
164 198
79990
84,208
135 531
87,124
48407
6319
3330
1550
1439
635.0
333.5
1563
1452
6340
333.7
1554
1449
635.8
333.9
1563
1456
6345
3330
1555
146 1
6357
333.6
1552
1469
6365
3338
1556
147 1
6357
3332
154 6
1479
6361
3326
155 7
1478
r
6384
r
1 38
1.49
1.88
55
87
.47
104
.41
16
47
142
1 88
1.16
1.15
1.64
.74
1 38
1.49
1.89
55
87
.46
1.04
.41
16
47
142
1.87
1.16
1.17
1.72
.73
138
1.47
1.88
54
88
.46
1.02
.39
16
47
142
1.90
1.14
1.17
1.65
.76
136
1.48
1.88
.55
.88
.46
1.02
.40
16
.47
1.39
1.82
1.13
1.14
1.65
.72
135
1.46
1.86
53
.87
.46
1.02
.39
16
47
1 38
1.80
1.14
1.13
1.60
.73
139
1.47
1.87
53
88
46
102
.40
16
47
1 39
184
1.13
1.22
1.73
.80
137
1.47
1.88
53
89
.45
102
.39
16
47
1 39
182
1.14
1.19
1.70
.77
134
1.45
1.82
51
87
44
101
.39
16
47
1 35
171
1.13
1.16
1.63
.76
1 35
1.46
1.85
52
89
44
102
.39
16
47
134
1 65
1 14
1 17
1.65
.77
137
1.43
1.79
50
86
43
101
.39
16
46
143
1 91
1 15
1 19
1.65
.79
1 35
1.41
1.78
50
85
43
98
.38
16
45
144
194
1 15
1 16
1.63
.76
1 34
1.42
1.79
r
51
85
43
r
99
'.38
16
'46
141
186
1 14
1 15
1.60
r
.ll
1 36
1.41
1.78
49
85
43
99
.38
15
45
144
190
1 16
1 18
1.65
.79
1 56
1.79
1.44
1 30
1.56
1.79
1.43
131
155
1.78
1.43
130
1.54
1.78
1.41
1 27
1.53
1.77
1.40
126
1 56
1.78
1.41
135
1 55
1.78
1.40
1 32
152
1.75
1.37
129
152
177
1.34
1 30
154
1.74
1.45
132
1 53
1 72
1.46
130
1 53
173
1.43
130
1 54
171
1.47
132
175 771 192,579 203,913
91 591 101,849 109,305
4,391
4,015
4,725
10,185
10,912
10,771
4579
4483
4281
11 936
13055
14 106
17 107
19,982
14734
13557
16,352
15288
27,639
24,341 26,707
17,904
17,168
17,962
4,099
4,645
4,946
90730
84 180
94608
24969
22817
25939
1 522
1 208
1800
4,224
3706
4,720
8,389
8,394
7811
17,860
17 124
19,157
15,285
14,699
15,923
3,894
4,107
4,155
191,724 192,261 194,303
194,611
103,923
4,994
11,106
4647
13751
17,769
14,612
26,630
17,749
4,529
90688
23980
1442
4266
8,099
18,702
16,397
4,110
193,509
197,375 207,055
105,450 112012
4,984
5,231
11,015
11,236
4603
4749
14391
14982
18,149
19867
14,796
16,844
26,747
27,268
18,224
17,499
4,670
5,252
91925 95043
25030 25276
1772
2199
4,360
4,651
8,224
8,491
18,211 19,194
16,812
16,342
4,098
4,208
194,638 193,871
179,513
92,728
4,753
9,710
4030
13,459
15,827
13,586
21,466
13,113
4,430
86,785
23,581
1,349
3,718
7,702
16,687
16,029
3,829
193,793
194,000 204,504 202,238
101,590 109 177 109,516
5,055
5,055
5,208
10,469
10,520
10,726
4432
4375
4314
15,596
14811
15171
16,273 18312
17,842
16,104
15,064
16,565
24,088 27,196 28,444
18,824
15,063
17,905
4,692
4,630
4,983
95327
92,722
92410
24285 25875 24,793
1,591
1,727
1,868
4,544
4,846
4,859
8,251
8,177
8,276
18,525
17,578
17,209
16,048
16,091
16,463
4,220
3,947
4,086
196,593 194,229 197,229
197,448 192,213
105,135 101
517
r
4,682
4,162
r
9,940
9,187
r
4081
'3 945
14513 13 182
17,854 18,904
16,509 16,237
26,971 r25,930
17,783 14,177
r
4,799
5,068
92313 rr90 696
25,038 24,559
r
1,854
2,274
r
4,513
4,220
r
7,900
7,851
16,600 17,498
16,981 16,960
r
4,018
3,574
200,131 199,084
182,862
95303
4,323
9,926
4 176
12617
15097
13,690
26,135
18,206
4,402
87559
23,574
990
3,984
8,415
17,735
15,857
3,746
199,438
101,724
4,718
10,411
4,282
13204
17049
15 220
26,331
17,497
102 116
4,670
10,034
4,181
13470
18367
15 544
25,120
16,187
102,068
4,933
10,586
4,413
13548
18 117
14 589
25,317
16,475
102,718
4,822
10,579
4,478
13975
18067
14 801
25,175
16,673
102,657
4,753
10,481
4,377
13854
17979
15 669
24,335
15,291
102,478
4,808
10,666
4,419
14404
17 549
15012
24,985
15,836
105,311
4,747
10,932
4,550
14546
17566
15 539
26,879
17,141
103,656
4,766
10,389
4,464
14391
17 229
15 601
26,176
17,286
106,479
4,765
10,523
4,384
14932
17967
15840
27,421
17,640
107,007 105,777
r
4,771
4,773
10,513 10,263
r
4,319
4,326
14,878 14 232
18,161 17 622
16528 16 338
27,283 r27,931
18,120 17,428
106,102
5,107
10,235
4,270
14282
17074
14 925
28839
19,475
4784
90,537
24,893
1,684
4,231
8,140
17,630
15,554
4 185
4692
92,187
25,045
1,874
4,306
8,047
17,583
16,520
4 102
4699
91,441
24,603
1,468
4,299
8,029
17,955
16,816
4,049
4,747
91,920
25,101
1,836
4,287
8,190
17,456
16,418
4,103
4896
91,214
24,139
2,006
4,248
8,131
17,982
16,308
3,903
4829
91,315
24,895
1,465
4,351
8,135
18,184
15,975
3,977
4,706
91,282
24,286
1,634
4,355
8,090
18,110
16,281
3,826
4,606
90,573
24,296
1,684
4,490
8,111
17,821
15,664
3,831
4,572
90,750
24,160
1,567
4,659
8,097
17,963
15,949
3,959
101 966
4,742
10,500
4,377
13478
16788
14 782
26795
18,359
4542
89758
24,825
1 329
4,254
8,069
18001
14,869
4227
3308
1597
1479
582 763
281 993
190 284
91 709
165 655
81735
83,920
135 115
87,269
47846
6388
3305
161 1
1472
r
4,789
93,124
25,241
1841
4,643
8,194
17604
16,961
4 131
r
3300
1609
1489
r
4908
r
93 307
r
24,732
r
2 117
4,494
8,390
17 994
16,728
r
4020
r
4862
93336
25,696
1089
4,578
• 8,680
18649
16,016
4066
Feb.
S-4
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
Annual
„.
uims
1984
March 1986
1986
1985
1985
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
Shipments (seas, adj.) — Continued
By market category:
Home goods and apparel
mil $
Consumer staples
do
Equipment and defense products,
except auto
do .
Automotive equipment
do ....
Construction materials, supplies, and
intermediate products
do ....
Other materials, supplies, and
intermediate products
do ....
Supplementary series:
Household durables
do
Capital goods industries
do
Nondefense
do. .
Defense
do...
Inventories, end of year or month:
Book value (unadjusted), total
do....
Durable goods industries total
do
Nondurable goods industries, total
do....
Book value (seasonally adjusted), total
do....
By industry group:
Durable goods industries,
total #
do
Stone, clay, and glass
products
do
Primary metals
.
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 ....
By stage of fabrication:
Materials and supplies
do
Work in process
.
do .
Finished goods
do....
Nondurable goods industries,
total #
do
Food and kindred products
do..
Tobacco products
do ....
Textile mill products
do
Paper and allied products
do
Chemicals and allied
products
do .
Petroleum
and
coal
products
do
Rubber
and plastics
products
. . do ....
By stage of fabrication:
Materials and supplies
do
Work in process
do ..
Finished goods
do....
By market category:
Home goods and apparel
do
Consumer staples
do
Equip, and defense prod.,
exc auto . .
do ....
Automotive equipment
do
Construction materials, supplies, and
intermediate products
do ...
Other materials, supplies, and
intermediate products
do
Supplementary series:
C
"t 1
rl
' f\
t '
Blast furnaces steel mills
Nonferrous and other priFabricated metal products
Machinery except electrical .
Electrical machinery
Aircraft missiles and parts
Nondurable goods industries, total
Industries
with
unfilled
Industries without
M
*t 1
rl f
r\ ' r\
t 'p<;
Defense
See footnotes at end of tables.
12,982
34,677
13,222
35,116
13,114
33,979
13,214
34,923
13,173
34,802
13,021
34,704
13,509
34,250
13,335
34,403
13,408
34,043
13,661
35,385
13,315
'35,666
13,367
36,166
1
338,881
1
215,445
'364,145
'226,166
27,920
20,389
29,552
19,345
30,887
18,148
30,170
18,413
29,843
18,600
31,123
17,190
29,992
17,631
30,519
18,973
29,945
19,151
30,871
19,550
30,915
20,034
'31,906
19,291
29,464
21,514
1
179,172
'206,611
16,688
16,338
16,669
17,014
17,396
17,488
17,442
17,624
17,619
18,086
17,357
16,640
17,915
1
981,500
'968,923
79,378
79,367
80,261
80,819
80,662
80,095
81,003
81,718
79,776
81,271
82,779
'82,266
81,012
'75,036
'386,980
'314,475
'72,503
'78,031
'411,381
'326,712
'84,669
6,521
31,628
25,248
6,380
6,316
33,029
26,334
6,695
6,451
34,485
27,767
6,718
6,443
33,454
27,102
6,352
6,574
33,393
26,809
6,584
6,608
34,703
27,482
7,221
6,377
33,869
27,042
6,827
6,444
34,952
27,788
7,164
6,625
33,848
26,722
7,126
6,505
35,392
27,721
7,671
6,746
35,629
27,771
7,858
281,956
188,091
93,865
285,709
277,885
186,014
91,871
281,884
284,529
190,648
93,881
285,785
287,323
192,814
94,509
286,146
286,913
193,157
93,756
286,171
288,095 287,400
193,991 193,692
94,104
93,708
286,049 284,900
286,071
193,077
92,994
285,678
284,842
192,382
92,460
285,036
284,979
192,582
92,397
284,688
282,567
191,127
91,440
284,030
191,109
189,164
192,153
192,030
192,355
192,475
191,546
192,239
192,163
192,037
5,958
19,558
8,878
19,210
41,502
33,614
47,708
5,920
19,297
8,717
19,093
41,609
33,744
48,091
5,880
19,083
8,619
18,804
41,273
33,957
48,060
5,982
19,100
8,587
18,893
41,009
34,270
48,582
5,981
18,822
8,427
18,540
40,981
34,504
48,869
5,826
18,597
8,362
18,622
40,874
34,443
49,384
r
6,519
'36,573
'28,630
r
7,943
6,715
32,990
25,701
7,289
282,136
189,961
92,175
282,444
280,930 '277,885
188,867 186,014
92,063 '91,871
281,993 r281,884
279,331
186,999
92,332
280,657
191,930
190,508
190,284 189,164
188,559
5,841
18,486
8,295
18,890
40,392
34,315
49,837
5,648
18,146
8,139
19,282
39,999
33,910
49,251
5,721
17,986
8,082
19,317
39,710
33,524
49,611
5,666
17,837
'7,830
19,385
r
39,448
'33,496
'49,068
5,639
17,315
7,490
19,191
39,486
33,561
49,213
11,304
r
5,869
20,632
9,401
19,251
40,696
32,783
47,418
5,666
17,837
7,830
19,385
39,448
33,496
49,068
5,911
19,577
8,950
19,139
41,463
33,396
47,801
5,880
19,310
8,816
19,024
41,669
33,537
47,733
11,219
11,477
10,993
11,142
11,115
11,254
10,979
11,127
11,262
11,555
11,403
11,263
11,335
11,477
9,412
9,594
9,537
9,670
9,714
9,709
9,684
9,657
9,686
9,651
9,636
9,741
9,701
'9,594
9,573
56,469
88,105
46,535
53,527
89,912
45,725
56,033
88,672
47,448
55,768
88,967
47,295
55,445
89,684
47,226
55,638
89,537
47,300
54,693
89,654
47,199
54,714
90,306
47,219
54,257
91,383
46,523
54,217
91,473
46,347
53,844
92,181
45,905
53,644
91,072
45,792
52,999
91,020
46,265
'53,527
'89,912
'45,725
52,334
90,348
45,877
94,600
21,500
3,558
7,017
9,691
92,720
23,533
3,270
6,744
9,728
93,632
23,800
3,599
6,946
9,880
94,116
24,183
3,629
6,991
9,883
93,816
24,180
3,530
6,932
9,942
93,574
23,929
3,470
6,876
9,782
93,354
23,612
3,426
6,747
9,690
93,439
23,465
3,301
6,737
9,678
92,873
23,217
3,317
6,662
9,533
92,651
23,496
3,220
6,598
9,650
92,100
23,610
3,227
6,689
9,660
91,936
23,564
3,314
6,781
9,629
91,709
23,427
3,245
6,651
9,659
'92,720
'23,533
'3,270
'6,744
'9,728
92,098
23,252
3,274
6,636
9,804
21,872
21,419
21,360
21,366
21,420
21,364
21,499
22,050
21,887
21,826
21,895
21,697
21,677
'21,419
21,633
8,427
7,920
8,209
8,045
8,042
7,973
8,183
7,953
7,736
7,366
7,028
7,190
7,464
'7,920
7,329
5,989
6,313
5,931
6,028
6,069
6,044
6,055
6,094
6,143
6,248
6,262
6,094
6,161
'6,313
6,378
36,635
14,811
43,154
35,503
14,568
42,649
36,731
14,656
42,245
36,914
14,642
42,560
36,400
14,524
42,892
36,399
14,351
42,824
36,107
14,318
42,929
36,448
14,336
42,655
35,917
14,216
42,740
35,974
14,161
42,516
35,433
14,310
42,357
35,539
14,607
41,790
35,051
14,680
41,978
'35,503
14,568
'42,649
35,752
14,159
42,187
23,046
34,262
22,060
33,823
23,136
34,102
22,885
34,417
22,685
34,209
22,797
34,234
22,340
34,247
22,354
34,053
22,351
34,126
22,278
34,125
22,012
33,650
21,916
34,022
21,876
33,677
'22,060
'33,823
21,973
33,667
83,372
13,713
83,871
13,795
84,796
13,499
85,263
13,680
84,844
13,606
85,377
13,689
85,586
13,449
85,567
13,498
86,111
13,642
86,086
13,948
86,214
13,800
85,136
13,641
85,188
13,731
'83,871
13,795
84,105
13,556
19,551
19,256
19,583
19,495
19,563
19,352
19,336
19,555
19,253
19,139
19,184
18,791
19,178
19,256
19,056
108,343 109,079
108,300
10,974
'96,735
'70,465
'26,270
10,888
97,011
70,278
26,733
109,079
110,669
110,406
111,264
110,600
109,942
110,651
109,553
109,112
109,170
108,938
do .
do....
10,974
96,735
70,465
26,270
11,837
96,427
73,336
23,091
11,680
96,834
73,429
23,405
11,694
96,629
73,140
23,489
11,703
97,299
73,293
24,006
11,487
97,467
73,505
23,962
11,407
98,019
73,298
24,721
11,489
98,362
73,045
25,317
11,451
98,508
72,585
25,923
11,226
98,878
72,402
26,476
11,176
97,879
71,292
26,587
do ....
do....
do ....
..do....
2,299,609
1,207,327
1,092,282
'2,299,609
2,349,640
1,251,657
1,097,983
'2,349,640
183,087
98,622
84,465
195,210
195,781
105,013
90,768
193,057
204,229
109,729
94,500
191,532
192,564
101,914
90,650
191,081
195,193
103,166
92,027
195,019
208,112
112,968
95,144
198,261
179,067
92,085
86,982
195,793
192,940
100,755
92,185
198,782
205,698
110,339
95,359
197,332
201,856
109,151
92,705
195,381
192,718 198,395
100,621 107,294
92,097 '91,101
196,865 '201,213
189,393
101,664
87,729
202,094
do . . . .'1,207,327 ' 1,251,657
'129,346 '126,373
'53,022
'52,547
do
105,447
10,803
4,680
102,467
10,015
4,377
99,544
10,019
4,093
99,839
11,169
4,734
102,971
10,559
4,215
106,780
10,736
4,344
104,370
10,604
4,509
107,661
11,038
4,826
106,641
10,212
4,179
104,495
10,749
4,638
103,796 107,531
10,560 10,059
4,421
'4,085
108,902
10,461
4,249
'61,342
'140,282
'213,008
'191,281
'301,530
'93,227
do...
do... ' 1,092,282
'58,193
'167,724
'210,691
'189,012
'320,028
'101,549
'1,097,983
4,826
13,582
15,255
17,935
27,818
8,329
89,763
4,527
12,979
20,497
14,502
24,831
6,095
90,590
4,657
13,253
18,782
15,871
22,532
5,026
91,988
5,101
13,457
17,002
14,378
23,975
6,433
91,242
5,013
13,593
17,332
14,947
26,416
8,002
92,048
5,229
13,426
17,822
16,200
28,300
10,573
91,481
4,859
14,206
17,766
15,189
26,730
9,336
91,423
4,919
14,560
17,812
14,685
29,861
11,321
91,121
4,733
14,356
17,370
16,856
28,080
9,235
90,691
4,858
14,837
16,718
15,820
26,503
7,911
90,886
4,638
15,280
17,983
16,250
24,199
5,993
93,069
'4,876
14,146
16,195
16,297
'31,031
12,961
'93,682
4,847
14,164
15,932
16,021
31,290
11,192
93,192
' 244,241
'253,010
20,927
20,704
20,836
20,396
21,243
21,367
21,101
20,692
21,483
21,180
21,090
'22,093
21,844
70,846
70,805
70,114
70,322
70,429
69,208
69,706
71,979
'71,589
71,348
12,843
33,988
29,299
18,247
13,118
34,943
30,738
18,461
13,210
34,770
33,946
17,438
12,964
34,696
31,800
17,357
13,448
34,205
32,386
19,112
13,350
34,474
32,319
18,989
13,577
34,086
28,595 ,
19,327 x
13,468
35,402
28,085
19,918
13,151
'35,676
'33,690
18,939
13,956
36,126
30,102
21,53
do ..
do ....
-do ....
11,156
97,669
71,071
26,598
'848,041
'844,973
68,836
69,886
71,152
'156,164
'403,509
'361,887
'214,151
'158,436
'416,615
'372,485
'225,235
13,426
34,516
29,982
20,231
12,962
34,758
30,366
19,662
12,910
35,047
30,750
18,123
do ..
' 179,527
'206,388
16,822
16,511
16,322
17,036
17,200
17,324
17,339
17,640
17,662
18,216
17,230
16,838
17,91
do ...
'984,368
'970,244
80,233
78,798
78,380
79,668
80,559
81,573
81,637
81,991
80,538
81,580
82,76
'82,91
82,46
do
do
'74,969
'413,931
'324,208
'89,723
'77,76
'423,055
'326,584
'96,47
7,093
34,694
23,633
11,061
6,220
34,201
29,493
4,708
6,167
33,446
27,206
6,240
6,195
31,59
25,46
6,130
6,45
34,36
25,59
8,77
6,616
39,222
27,984
11,238
6,29
36,279
26,685
9,594
6,328
37,824
27,554
10,270
6,652
37,346
29,240
8,106
6,71
33,27
27,09
6,17
6,66
32,59
25,78
6,81
'6,32
'37,71
'30,56
'7,15
7,22
34,91
24,57
10,34
By market category:
Home goods and apparel
. .. .do ...
Consumer staples
-do ...
Equip, and defense prod., exc. auto
do...
P
12,837
34,512
11,585
94,813
72,296
22,517
unfilled
Construction materials, supplies, and
intermediate products
Other materials, supplies, and
intermediate products
Supplementary series:
' 158,665
'416,515
111,765
do
Nondefense
Defense
New orders, net (not seas, adj.),
total
Durable goods industries, total
Nondurable goods industries, total
New orders, net (seas, adj.), total
By industry group:
Durable goods industries, total
'156,346
1
403,584
do
Feb.
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
S-5
SURVEY OF CURRENT BUSINESS
March 1986
Annual
,T ..
1984
1986
1985
1985
Jan.
Mar.
Feb.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
Unfilled orders, end of period (unadjusted),
total
mil $
Durable goods industries, total
.do....
Nondurable goods industries with
unfilled orders i
do
Unfilled orders, end of period (seasonally
adjusted) total
mil $
By industry group:
Durable goods industries total #
do
Primary metals
do
Blast furnaces, steel mills
do....
Nonferrous and other primary metals
do
Fabricated metal products
do
Machinery, except electrical
do ..
Electrical machinery...
do....
Transportation equipment
do
Aircraft, missiles, and
parts
..do ....
Nondurable goods industries with
unfilled orders "$'.
do
By market category:
Home goods and apparel
do
Consumer staples
do
Equip, and defense prod., excl.
auto.. .
do
Automotive equipment
do
Construction materials, supplies, and
intermediate products
do....
Other materials, supplies, and
intermediate products
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
number ..
Commercial service
do
Construction .
.
do
Manufacturing and mining
do ...
Retail trade
do....
Wholesale trade........
do ....
Liabilities (current) total
mil $
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 ..
352 940 361 360
343,026 350,891
360 261 363 459 363 772 361 728 359 545 360 602 360 156 359 096 360 290 359 908 355 178 r361 360
350^061 353,223 353,645 351,638 349,353 350,309 349,666 348^831 349,993 349,628 345,114 '350,891
367 891
357,252
10 469
10,639
355,640 363,809
359 125 359 926 357 151 354 731 355 112 359 502 361 502 363 691 366 794 364 946 361 680 r363,809
366.465
345 443 353 036
19100 19747
8,660
9,191
348 924 349 671 347 096 344874 345127 349 250 351 142 353 492 356 477 354 493 351 282 r353 036
19403 19009 18993 19576 19556 19811 19749 19855 19678 19904 19951 19 747
9,058
8,970
9,291
9,028
9,330
9,432
'9,191
8,963
8,995
9,085
9,361
9,076
355 836
19 973
9,170
7444
7064
21651 20,414
61,328
59,407
78,868 82,339
147 596 154 122
7367
21754
59794
82,023
148 618
7 118
6989
7223
6963
21 529 21313 21222 20,840
63,245 63,659 62,547 61,814
81,304
81,630
81,423 81,569
147 120 144 531 143 189 144 428
7528
20412
61,657
82,100
148 393
7412
20214
61,874
82,277
150 138
7203
7 192
7204
20228 20193 20098
62120 62261 61,012
81,423 82,678 82,658
153 120 155 024 154 106
r
6951
7064
20 500 rr20 414
60,834 r59,407
82,380 82,339
151 022 154 122
7,195
20,296
58,265
83,435
156573
119,920
130,785
121,388
120,298
118,097
117,351 118,529
121,735
123,442
126,779
128,702
128,441
126,867 130,785
134,066
10,197
10,773
10201
10,255
10,055
10,252
10360
10199
10317
10 453
9914
10469
10200
10236
4562
649
4202
751
5154
653
5133
735
219 947
6287
228 264
5,377
222 007
6129
222 824
6446
12,640
10127
4819
666
10090
9,857
10192
9,985
4552
675
4,456
695
222 686 221 820
6,422
6,256
222 714
6,117
10293
10490
10265
10297
10 280
10064
10398
4366
741
10 773
r
10629
4202
r
751
4791
711
225 537 227 345 229 212 231 586 229 310 226 480 r228
264
r
6,365
6091
6230
6068
5845
5729
5377
228 902
5394
4493
663
4436
655
4375
610
4 390
681
4559
724
12,418
12,774
12,946
12,600
12,621
12,425
111,555 112,797
112,408
111,842
109,958
108,807
108,705
4,155
3,749
263,713 275,320
133,938 133,823
129 775 141 497
r
3,982
4,347
4,103
4,633
4,730
3,990
3,904
3815
3788
4021
3940
3 749
4262
266,777 267,953 266,911 265,054 266,028 270,547 272,957 275,829 279,327 277,206 274,175 r275,320 277245
132,322 135,486 134,921 133,285 132,070 132,572 132,215 131,981 134,499 133,870 131,887 133,823 132,695
134 455 132,467 131,990 131,769 133,958 137 975 140 742 143 848 144 828 143 336 142 288 141 497 144 550
12,261
12,158
12,174
12,217
110,183 110,817
111,090
111,852
12,347
12,220
12,418
12,418
112,161 112,144 112,797
114,249
634,991 668,904
55,769
53266
49,789
54,533
57,493
55,764
58,827
55,866
59,491
56,124
54,841
55,339
55,706
53926
54,587
55418
52,639
55,999
r
60,455
r
51,015
57,320
57,958
57785
52,078 57,067
12787 16626
6,936
6,956
5,759
5,647
13,787
13,418
4,882
4,815
29 268 6 33 375 9
40581 70918
16514 2,028.3
5,954.3 7,651.5
2,385.4 2,838.2
35678 28978
3,675
976
445
374
935
304
18720
2938
1485
5689
188.9
1133
4,226
1057
495
447
1,051
404
23784
4663
1259
6775
142.5
2410
5,768
1573
735
585
1,357
494
37907
7490
3204
1,095.8
344.6
4957
4,586
1,261
569
462
1,074
369
32798
3218
150.5
420.5
624.9
1101
5,914
1,828
679
555
1,362
464
3261 9
4949
149.2
898.7
302.4
1912
4,388
1307
518
418
987
381
29956
8072
1154
783.8
145.5
2190
4,185
1209
538
401
985
363
21505
5626
1243
1852
147.5
1892
5,468
1703
700
512
1,288
440
3 1624
3858
1423
515.6
256.1
3195
4,146
1 168
520
410
992
367
1 9253
4899
1053
460.2
127.4
1719
4,767
5,776
1420
1763
565
701
585
485
1,133
1,331
473
390
1 824 6 50269
4708 17818
290.8
1060
349.0 1,350.3
218.5
158.2
1438
5039
4,168
1361
491
413
923
366
17078
2679
249.7
346.0
181.7
1992
587
534
506
509
410
354
711
1,529
643
740
801
261
578
530
642
511
395
337
713
1,529
627
740
770
261
557
499
616
473
373
334
696
1,436
617
740
748
267
551
486
571
465
350
345
689
1,529
618
752
730
290
57,576
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS t
Prices received, all farm products
1910-14=100..
Crops $•
.
do...
Commercial vegetables
do....
Cotton
do ....
Feed grains and hay
do
Food grains
.
. . . do...
Fruit
do....
Tobacco
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....
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.
650
600
673
554
459
394
751
1,484
701
823
854
307
587
523
647
472
386
365
694
1,516
654
779
802
271
620
547
647
441
409
385
726
1,574
696
856
856
266
616
538
693
418
406
383
666
1,540
697
838
871
258
614
553
780
474
411
385
657
1,549
677
813
837
265
601
547
621
481
417
390
671
1,530
656
789
815
251
594
544
565
485
420
376
703
1,529
645
764
806
245
561
482
564
479
333
354
710
1,526
643
771
777
281
581
500
671
473
344
368
726
1,499
665
771
806
304
585
512
885
450
358
370
660
1,423
661
771
802
298
567
r
489
r
685
r
447
r
361
r
365
r
591
1,423
r
649
r
764
r
794
278
552
472
565
459
354
352
568
1,411
636
759
779
265
897
873
890
889
885
884
882
876
868
865
857
856
862
860
866
862
1,130
58
1,121
52
1,127
55
1,127
55
1,125
55
1,128
53
1,127
53
1,125
52
1,119
52
1,117
50
1,113
50
1,112
50
1,116
52
1,116
52
1,121
51
1,119
49
307.6
318.5
312.6
313.9
315.3
316.7
317.8
318.7
319.1
319.6
320.5
321.3
322.6
323.4
324.3
323.2
321.3
322.3
322.8
323.5
324.5
325.5
326.6
327.4
328.4
327.5
303.4
322.4
317.0
304.3
323.6
317.9
304.4
324.2
318.4
304.6
325.0
318.9
305.7
326.2
319.9
306.3
327.4
320.8
307.2
328.5
321.9
307.9
328.9
322.6
308.8
329.5
323.4
307.4
328.5
322.2
311.1
322.2
316.1
317.4
318.8
320.1
295.1
311.3
307.3
303.9
323.3
317.7
298.9
316.3
311.9
300.0
317.4
313.1
301.5
319.1
314.5
302.8
320.8
315.8
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
IT
Annual
.,
1984
March 1986
1986
1985
1985
Jan.
Feb.
Mar.
Apr.
May
June
July
Nov.
Oct.
Sept.
Aug.
Jan.
Dec.
Feb.
COMMODITY PRICES—Continued
CONSUMER PRICES— Continued
(U.S. Department of Labor Indexes) — Continued
Not Seasonally Adjusted
All items (CPI-U)— Continued
Commodities
1967 = 100 ..
Nondurables
do
Nondurables less food
. .do .
Durables
do
Commodities less food
do
Services
do
Food #
do
Food at home
do
Housing
do
Shelter*
do...
Rent, residential
do ....
Homeowners' cost
Dec 1982 — 100
Fuel and utilities #
1967-100 .
Fuel oil, coal, and bottled
gas
do
Gas (piped) and electricity
do
Household furnishings and operation
do....
Apparel and upkeep
do...
Transportation
do ....
Private
do
New cars
. .
.
do
Used cars
. do...
Public
do....
Medical care
do
Seasonally Adjusted 1"
All items, percent change from
previous month
Commodities
1967 — 100
Commodities less food
do
Food
do..
Food at home
do....
Apparel and upkeep
.
...do....
Transportation
....do....
Private
do....
New cars
do
Services
do....
PRODUCER PRICES §
( U.S. Department of Labor Indexes)
Not Seasonally Adjusted
All commodities
1967 — 100..
By stage of processing:
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 products, 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..
..do....
Lumber 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....
Textile products and apparel
do
Transportation equip # .
.Dec 1968—100..
Motor vehicles and equip
1967 = 100 ..
Seasonally Adjusted t
Finished goods, percent change from previous
280.7
2866
2708
2665
2670
3630
3029
2926
3365
3617
249.3
1073
3873
286.7
2932
2772
270 7
2725
381 5
3098
2968
3499
3820
264.6
113 1
3936
282.7
2880
2697
270 2
2678
372 1
3073
296 1
3420
371 2
257.1
1100
3872
284.0
2892
2702
271 4
2686
3735
3095
2986
3436
3733
258.4
1107
3865
285.3
2910
2732
271 9
2706
3750
3097
2984
3447
374.3
259.2
1108
388.2
286.8
2927
2765
272 6
2728
3762
3096
2977
3459
3759
260.4
1113
388.7
287.0
2933
2780
271 6
2734
3789
3089
2962
3485
3795
262.6
1124
3930
286.9
2937
2784
270 4
273 1
381 3
3093
2960
3504
381 0
2636
1128
3994
286.5
2935
2779
269 3
2724
3833
3095
2962
3516
3832
2650
113 5
3999
286.5
2937
278 1
268 6
272 3
3849
3097
2959
3529
3859
2666
114 3
3989
287.1
2946
2796
268 7
273 1
3865
3099
2956
3538
3869
267.7
1146
4005
287.9
2951
2807
270 2
2744
3877
3098
2953
3544
3891
269.9
115 1
3956
289.2
2964
2820
271 5
2757
3887
311 0
2966
3550
391.3
271.7
1158
392 1
289.9
2974
2820
2714
2757
3895
3132
299.3
355.8
392.3
272.4
1163
3933
290.1
2977
280.4
2714
2747
391 7
3156
3025
356.8
393.8
273.4
1167
394.6
287.4
294.3
274.5
2705
2709
393.3
315.3
301.5
356.5
394.8
273.7
1170
390.0
6418
4452
6195
4527
621 6
444 1
6234
4433
6208
445.5
6235
4459
6208
4547
6120
4656
6019
467 1
5946
4651
601 7
4665
6153
4539
641 6
4405
6573
4399
6503
4426
591.2
444.5
242.5
200.2
311.7
3066
2085
375.7
385.2
3795
247.2
206.0
319.9
3142
2152
379.7
402.8
403 1
244.2
199.8
314.7
309 1
213.1
382.8
394.5
391 1
246.2
201.8
314.3
3087
213.9
384.6
394.4
393.8
246.9
205.3
316.7
311.0
214.1
386.1
397.3
396.5
247.9
205.9
320.0
3146
214.1
386.4
398.0
398.0
247.6
205.3
321.4
3160
214.5
384.2
398.4
3995
247.1
204.6
321.8
316.3
214.7
380.3
399.3
401.7
246.5
202.8
321.8
316.1
214.7
376.7
402.4
4040
247.0
205.3
320.7
3149
214.6
374.0
403.7
4066
247.1
209.6
319.7
313.6
214.5
374.3
408.0
408.3
248.4
211.1
320.9
314.7
216.2
375.3
411.5
410.5
248.9
211.2
323.2
317.0
218.4
376.4
412.8
413.0
248.8
209.0
324.0
317.8
219.4
375.6
412.9
414.7
248.8
205.0
323.9
317.3
219.9
374.1
419.6
418.2
249.0
204.1
319.2
312.2
220.4
370.7
422.2
422.3
.2
2835
269.2
307.7
296.4
202.3
316.2
310.7
2119
372.6
.3
2840
269.8
308.2
296.6
204.2
316.0
310.6
213.0
374.2
.5
285.3
271.5
308.6
296.7
205.1
319.0
313.5
213.7
376.0
.3
286.2
272.8
308.7
296.3
205.4
320.9
315.5
214.1
377.5
.2
2859
272.5
308.4
295.4
205.3
320.2
314.8
214.5
379.6
.2
286.1
272.5
309.1
295.6
205.9
320.2
314.7
215.0
381.3
.2
2860
272.2
309.2
295.6
205.6
320.3
314.6
2152
383.0
.2
2862
272.3
309.6
295.6
205.9
319.8
314.0
2157
384.4
.2
2867
272.5
310.7
296.4
206.8
319.3
313.2
216.2
385.1
.4
2875
273.5
311.1
296.9
207.7
320.5
314.3
2170
386.7
.6
2890
274.8
313.2
299.4
208.4
322.6
316.5
2177
389.0
.4
290.2
275.5
315.2
301.8
208.3
323.9
317.7
218.4
390.3
.3
291.1
276.0
315.9
302.6
207.7
325.5
319.1
218.6
391.9
-.4
287.6
271.9
313.8
299.5
206.6
320.9
314.0
219.5
393.7
307.9
309.7
310.2
309.0
304.7
310.3
308.8
309.5
309.1
308.6
309.3
309.8
309.2
309.0
307.3
C
330.8
306.2
318.9
318.1
312.3
311.0
309.1
305.6
303.8
295.3
C
r
297.8
305.6
304.7
301.3
290.5
320.0
291.1
290.3
294.0
318.7
293.8
291.9
300.5
319.5
292.1
290.6
297.4
318.7
292.6
290.7
299.2
318.6
292.1
290.1
299.3
3193
293.1
291.2
299.9
3199
294.1
292.4
300.3
319.3
294.0
292.2
300.5
318.6
294.8
293.1
300.8
317.9
293.5
291.4
301.0
317.7
C
290.0
C
288.2
296.3
r
317.6
r
294.7
r
292.3
'303.5
318.1
296.7
294.7
303.8
318.8
297.2
295.4
303.5
317.2
296.2
294.1
304.0
313.5
292.3
288.9
304.2
293.6
323.3
3029
2939
312.3
297.3
317.3
3043
2981
310.5
295.6
320.1
3037
296.2
311.4
296.4
319.0
3034
297.0
309.9
296.3
317.7
303.3
296.9
309.9
297.1
318.4
304.2
297.6
310.8
297.6
318.9
305.2
298.4
312.1
297.8
317.5
304.8
298.7
311.0
297.8
317.3
304.6
298.7
310.6
297.8
314.1
303.8
298.6
309.0
C
295.2
C
313.0
C
302.2
C
298.8
'314.3
r
304.4
299.7
'309.2
298.7
317.9
305.4
299.6
311.3
298.5
318.7
305.7
299.5
312.0
298.2
316.9
304.7
299.1
310.3
298.3
309.0
301.0
299.2
302.7
262.4
2558
265.0
322.6
300.8
250.5
2304
260.5
323.9
303.0
257.6
2432
264.4
322.9
301.6
258.0
2453
263.9
322.2
302.2
254.6
238.8
262.3
322.5
302.6
253.1
236.8
260.9
323.8
303.3
250.2
230.4
260.0
325.3
303.2
249.1
229.4
258.8
324.8
303.7
249.4
229.3
259.4
324.4
304.6
244.0
218.0
257.3
323.7
304.6
C
240.9
C
r
212.8
255.3
C
322.3
304.7
245.1
'219.9
r
257.8
r
324.2
r
303.0
251.0
230.1
261.5
325.0
302.6
252.1
231.6
262.3
325.2
301.5
250.9
226.2
263.5
324.0
304.9
247.9
220.6
261.9
319.4
304.8
656.8
2187
286.3
307.4
293.1
316.1
337.3
318.5
246.8
2100
262.6
261.5
634.2
221.7
286.2
303.6
298.9
314.9
347.8
327.3
245.8
210.4
269.5
267.3
636.8
220.3
283.7
304.4
297.0
315.0
341.7
327.1
246.7
210.3
266.8
265.2
625.3
220.8
283.7
303.4
297.6
315.6
342.6
327.6
246.4
210.6
268.1
266.7
625.3
221.1
282.4
303.1
297.8
315.4
343.9
327.7
246.5
210.5
267.7
266.2
633.9
221.7
284.7
301.5
298.1
316.8
345.5
327.6
246.6
210.7
268.2
266.2
647.3
221.7
284.2
306.8
298.4
316.4
348.1
327.3
246.4
210.5
269.1
267.3
640.6
221.6
285.5
313.1
298.9
314.9
349.3
327.1
246.2
210.2
269.3
267.5
635.4
222.0
284.6
310.1
299.2
314.5
349.7
326.8
245.8
210.2
269.9
267.7
627.6
222.0
286.3
305.5
299.6
314.7
350.3
326.9
244.8
210.4
270.0
267.7
628.6
221.9
287.2
300.5
C
299.8
314.4
349.9
326.6
245.1
210.2
259.9
254.8
'628.0
'221.8
r
288.6
'299.4
'299.9
'314.2
'350.5
r
327.2
'245.2
'210.1
'275.2
'273.3
636.8
222.2
290.4
297.1
300.1
313.5
350.8
327.6
245.2
210.2
275.3
273.3
640.9
222.4
292.6
297.9
300.2
313.5
351.2
327.5
244.8
210.7
274.1
272.0
622.0
222.1
293.9
298.7
300.9
311.3
352.3
330.7
246.8
210.6
273.7
270.7
571.5
222.4
294.1
297.2
301.6
311.0
352.3
330.9
247.4
210.8
273.5
270.4
-.1
.0
.0
-.2
.2
tc
r Q
'.8
c
— .7
-1.6
320.8
320.4
291.9
290.5
273.7
294.1
239.0
335.6
296.8
315.2
319.0
291.9
290.0
273.6
293.4
239.9
333.4
298.6
311.0
318.6
292.0
289.9
272.4
294.0
240.4
334.1
299.3
307.3
319.3
293.5
291.9
270.8
297.5
240.9
340.1
299.6
305.6
320.0
294.2
292.6
268.6
299.7
241.4
343.8
300.0
303.8
318.5
293.6
291.6
268.4
298.4
242.1
340.7
300.4
303.0
317.8
294.3
292.5
270.9
298.4
242.1
340.7
300.7
296.1
317.4
293.4
291.2
269.0
297.5
242.3
339.0
301.3
293.1
317.2
r
302.2
r
239.8
338.9
299.7
317.5
'294.4
'292.1
'270.8
'298.0
243.0
'339.3
'302.7
308.9
318.6
296.7
294.8
273.9
300.4
243.8
343.0
303.4
307.4
319.7
298.3
296.7
275.9
302.3
243.7
346.5
303.6
303.2
318.3
296.3
294.3
274.8
2992
242.4
342.0
303.3
288.1
313.8
291.7
288.3
270.5
2924
242.6
330.0
303.5
.342
.316
.342
.315
.342
.314
.341
.312
.340
.311
.340
.310
.339
.310
.341
.309
.345
.308
.339
.307
.337
.306
.336
.305
.338
.305
.342
.305
By stage of processing:
Crude materials for further processing
1967 — 100 .
Intermediate materials supplies, etc
do...,
Finished goods #
do....
Finished consumer goods
do....
Foods
do...
Durable
do...
Nondurable
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.
.343
.321
.340
.310
305.5
291.8
296.0
308.4
c
C
C
291.8
C
289.6
266.4
C
296.3
C
C
r
S-7
SURVEY OF CURRENT BUSINESS
March 1986
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
Annual
.,
|T
Lmils
1984
1986
1985
1985
Jan.
Feb.
Mar.
Apr.
May
June
Nov.
July
Aug.
Sept.
Oct.
32240
25 534
13 951
10 797
32621
25 795
13 929
10'653
32100
25 944
13 913
10 605
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 #
do
Buildings (excl military) #
do
Housing and redevelopment ..
do
Industrial
do .
Military facilities
do.. .
Highways and streets
do
New construction (seasonally adjusted at
annual rates), total
bil. $ .
Private, total #
do....
Residential
do....
New housing units
do....
Nonresidential buildings, except farm and
public utilities, total #
bil. $
Industrial
do ....
Commercial
do....
Public utilities:
Telephone and telegraph
do
Public, total #
do
Buildings (excl military) #
do
Housing and redevelopment
do
Industrial
.
.. do
Military facilities
. do.. .
Highways and streets
do.. .
CONSTRUCTION CONTRACTS
Construction contracts in 50 States (F.W. Dodge
Division, McGraw-Hill):
Valuation, total
mil. $..
Index (mo. data seas, adj.)
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
. .
do
One-family structures
do....
New private housing units authorized by building
permits (17,000 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....
Boeckh indexes:
Average, 20 cities:
Apartments,
hotels,
office
buildings
1977 100
Commercial and factory buildings
. .do.
Residences
do...
Engineering News-Record:
Building...
1967 = 100..
Federal Highway Adm.— Highway construction:
p
&•
y
4
See footnotes at end of tables.
24493
20 728
lo'865
8 381
26714
22375
11 533
8 828
28936
23 664
12 332
9 552
31 605
25 565
14 279
10 202
31396
24 938
13 624
10 582
6265
1 131
4246
6529
1 145
4506
7328
1352
4957
7523
1368
5084
7428
1314
5026
7471
1345
5071
7790
1 338
5312
8027
1418
5483
8004
1402
5487
511
3558
1428
141
164
221
728
521
3312
1 313
122
149
201
686
605
3765
1 394
117
161
274
809
618
4339
1 572
131
157
250
1 192
651
5272
1 641
122
182
288
1860
654
6040
1878
137
194
266
2224
645
6458
1 930
123
154
310
2344
653
6707
1947
117
192
250
2523
617
6827
1980
138
242
292
2417
662
6 156
1 818
135
119
257
2294
341.0
283.7
155.3
113.0
334.3
276.5
146.0
110.3
333.7
274.6
146.2
110.8
341.9
282.0
146.5
112.6
339.9
276.4
142.3
112.0
3438
278.9
147.2
112.2
3442
2795
1487
112.8
3432
2794
1469
113.4
3461
2825
1489
113.8
85.6
15.2
58.5
86.8
15.8
58.9
85.2
14.6
59.4
912
17.3
61.2
894
16.4
60.1
862
152
58.3
859
154
580
880
151
599
896
156
612
74
574
188
18
2.0
3.0
17.8
75
578
188
17
2.0
3.0
18.4
76
591
188
1.4
2.0
3.1
19.2
77
599
196
1.6
1.9
3.2
19.9
75
635
199
15
2.1
3.3
22.3
76
649
21 2
16
2.1
3.4
21.1
74
647
214
15
19
3.4
19.6
73
639
208
13
23
30
20.2
71
636
210
15
23
30
196
70
628
207
15
16
34
192
23,107
19 549
10 195
7 749
312,988
257 801
145 059
114*620
342,826
280 468
148 239
113 418
74 147
13745
48107
88223
15765
60056
6351
1 111
4317
7 174
55187
17883
1 636
1,829
2,839
16294
7294
62359
20179
1528
1,963
3,164
19949
22273
18 961
9 605
7 307
r
r
3461
2833
151 1
1158
r
887
157
608
r
r
r
r
29,918
24 500
12 847
10 061
27,421
22 914
1l'l66
r
8'702
r
24,434
20330
10 213
8 177
7673
1
452
r
5,218
7023
1 173
4,911
^589
5418
1 689
130
121
282
1722
r
570
4507
1 589
115
129
272
1 152
4 104
1 530
112
131
265
828
r
r
r
r
3573
290 6
1528
1193
7834
1 391
5352
r
3451
2825
1497
1153
r
896
16 1
610
r
354.0
2895
1506
1165
r
945
175
649
938
158
657
68
625
20 1
15
16
30
198
69
645
204
14
17
33
r
206
667
205
14
16
35
208
r
r
r
r
211,480
"150
r
49,068
162,412
227,650
'161
54,224
173,426
15,154
153
r
3,454
11,701
13,343
152
3,453
9,890
19,025
167
4,380
14,645
19,917
163
4,881
15,036
21,832
161
5,536
16,296
18,718
154
4,693
14024
21,923
164
5,134
16789
20,687
164
5,000
15687
19,891
167
4,873
15019
21,146
168
5,164
15982
17,120
162
3,910
13211
15,166
162
3,860
11306
13681
139
2,974
10706
r
74,259
101 389
'35,833
80,750
106 771
40,129
r
5,920
r
6684
r
2,551
4,774
5,881
2,689
6,443
9374
3,208
6,676
9,443
3,797
7,351
10,331
4,150
6,070
8819
3,828
7,577
10608
3,738
7,236
9625
3,826
7,300
9067
3,524
8,487
9598
3,060
6,208
8015
2,897
5,308
6976
2,882
4,998
6623
2,060
193,603
206,622
17,612
16,730
15,081
14,013
16,011
12,870
13,229
18,894
14,265
22,852
25,088
19,975
18,812
16,793
1,755.8
1,749.5
1,084.2
1,744.9
1,741.8
1,072.4
105.4
105.4
59.3
95.8
95.4
63.4
145.2
145.0
92.6
176.0
175.8
108.7
170.5
170.2
107.5
163.4
163.2
101.7
161.0
160.7
105.6
161.1
160.7
99.5
148.6
147.7
89.9
173.2
173.0
104.7
124.1
124.1
73.4
120.5
120.5
r
66.0
117.0
116.9
r
73.1
106.2
106.2
65.6
1 804
1,039
1 632
1,111
1849
1,147
1 851
1,129
1 684
1,041
1 693
1,036
1 673
1,068
1,737
1,071
1653
1,006
1,784
1,118
1 654
1,006
1882
1,098
r
2056
1357
1985
1208
1,907
1,094
1,776
1,007
1,682
922
1,741
961
1,635
903
1,624
927
1,741
993
1,704
948
1,778
933
1,712
961
1,694
967
1,784
990
1,808
949
1,688
965
1,661
918
1,873
978
2956
2835
186
197
240
262
280
251
243
277
245
277
209
169
189
275
279
286
288
287
272
285
286
283
291
287
285
280
1662
1662
1674
1681
1693
169 1
1688
1689
1690
1689
1694
1637
1683
1662
1668
1662
165.1
1695
1691
169.8
1685
1678
168.3
357.8
386.2
358.2
389.0
356.6
385.3
1550
1721
1687
167.9
168.6
357.3
385.7
352.8
385.8
1681
354.2
385.7
355.2
387.7
1703
170.4
171.0
1696
1693
170.4
1689
1683
169.2
359.3
391.1
173.9
362.2
392.8
360.6
391.9
359.5
390.4
1753
168.9
1708
1707
171 5
359.8
389.8
360.5
3903
171 2
1710
1719
360.1
3917
171 5
360.2
391 5
2
361.6
2
3926
S-8
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
Annual
.,
IT u
1984
March 1986
1986
1985
1985
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
CONSTRUCTION AND REAL ESTATE—Continued
REAL ESTATE <>
Mortgage applications for new home construction:
FHA applications
thous. units..
Seasonally adjusted annual rates
do. ..
Requests for VA appraisals
do .
Seasonally adjusted annual rates
do
Home mortgages insured or guaranteed by:
Fed. Hous. Adm.: Face amount
mil $
Vet. Adm.: Face amount §
do
Federal Home Loan Banks, outstanding advances
to member institutions, end of
period
mil $
New mortgage loans of all savings and loan
associations estimated total
mil $
By purpose of loan:
Home construction
do
Home purchase t
do .
All other purposes f
do
115.6
180.8
198.7
215.0
11.1
145
17.1
222
14,524.93 23,963.94 1,497.47
723.44
12,728.42 13,047.56
11.5
156
16.4
207
12.9
146
20.9
227
15.8
169
17.9
189
15.2
162
19.6
214
16.6
207
18.6
223
17.6
201
18.2
198
17.1
186
21.4
236
16.3
190
16.8
218
17.1
208
17.0
211
14.8
219
16.8
240
14.8
212
14.3
216
24.8
336
16.9
215
24.1
329
16.4
219
801.85 1,957.07 3,317.63 2,430.88 3,277.07 1,605.68 3,150.98 3,276.93
753.79 1,910.57 2,406.29 1,432.77 2,572.88
961.45 1,104.49 1,275.00 1,318.29 1,120.09 1,693.10 1,347.17 1,304.65 1,242.44
826.25 943.72 867.87
866.69
74,621
88,835
73,361
74,489
74,691
76,277
77,787
79,629
81,607
84,218
85,745
86,797
86,942
88,835
87,190
172,234
179,612
10,530
10,565
13,960
15,069
16,266
16,219
14,501
15,993
16,610
16,585
14,278
19,036
12,302
25,542
102,757
r
43,933
25,301
111,507
42,802
1,469
5,688
3,374
1,539
5,915
3,110
2,034
8,179
3,747
2,143
9,354
3,573
2,303
10,314
3,648
2,154
9,759
4,305
2,202
r
9,018
'3,281
2,544
10,753
'2,696
2,267
10,632
'3,711
'2,297
11,098
'3,189
1,921
'9,509
'2,847
'2,428
11,288
'5,321
1,756
7,796
2,751
2,402
708
335
1,358
2,280
573
264
1,442
r
86,892
DOMESTIC TRADE
ADVERTISING
Magazine advertising (Leading National
Advertisers):
Cost total
Apparel and accessories
Automotive, incl. accessories
Building materials
Drugs and toiletries
Foods, soft drinks, confection.
mil $
do
do....
do
do....
,
Houshold equip., supplies, furnishings
do
Soaps, cleansers, etc
do....
4,668.0
240.0
473.5
687
463.6
283.7
7.9
38.0
2.7
24.4
374.2
20.2
42.3
4.2
35.6
416.9
28.1
55.6
5.2
43.1
468.1
24.7
59.3
5.7
52.1
436.7
17.5
50.6
11.5
54.6
334 9
242.1
18.4
8.5
33.2
14.1
32.7
19.1
35.7
22.2
29.8
19.2
191 6
48 0
34.6
422.6
2 1485
7.4
2.4
2.9
31.4
139.7
10.5
2.1
4.5
27.0
180.8
13.8
3.5
4.9
27.1
184.1
20.8
4.2
4.3
29.1
209.8
23.4
4.5
4.2
26.8
196.0
2,097
731
280
1,085
2,038
720
269
1,049
2,165
725
300
1,140
2,144
762
281
1,102
1,889
708
223
957
2,046
743
242
1,061
2,152
741
295
1,116
2,285
726
340
1,219
116,563
52,940
63,623
117,984
53,508
64,476
124,467
56,119
68,348
111,524
51,538
59,986
114,118
51,830
62,288
116,987
54,711
62,276
112,721
52,478
60,243
121,995
57,751
64,244
114,759 117,855
52,778 '53,061
61,981 '64,794
113,204
50,442
62,762
134,981
87,171
47,810
134,881
87,713
47,168
133,012
87,140
45,872
134,069
87,968
46,101
133,447
87,550
45,897
133,026
87,267
45,759
134,414
87,739
46,675
136,760
87,385
49,375
136,997 137,758
87,094 '87,052
49,903 '50,706
138,881
87,550
51,331
110,167
41,180
113,107
43,450
120,337
46,771
114,962
44,236
115,490
44,646
121,122
45,816
114,171
44,972
116,144
42,648
118,556 139,467 105,559
41,021 '46,311 '38,884
5,234
26,334
6,372
27,495
7,014
29,481
6,740
27,447
6,879
27,835
6,802
28,283
6,456
28,338
6,848
24,859
5,429
68,987
11,876
23,090
8,103
5,548
10,749
3,790
1,487
111,854
40,765
5,271
69,657
12,398
22,683
8,512
5,780
10,781
3,811
1,500
115,351
42,932
5,649
73,566
13,309
24,307
8,966
5,883
11,498
3,914
1,578
114,884
42,789
5,562
70,726
12,412
23,542
8,947
5,465
11,462
3,782
1,582
113,730
42,064
5,641
70,844
11,549
24,085
9,248
5,239
11,620
3,834
1,652
114,417
42,341
6,015
75,306
13,588
24,774
9,182
6,372
11,926
3,978
1,671
116,977
44,277
5,703
69,199
12,095
22,694
8,545
5,667
10,919
3,699
1,626
119,538
46,592
6,194
73,496
13,291
23,645
8,817
6,062
11,236
3,975
1,560
114,860
41,923
All other
do
Newspaper advertising expenditures (Newspaper
Advertising Bureau, Inc.):
1,857
1,816
Total .
mil. $ . 23,523 25,170
621
8,376
617
7,657
Classified
do
3,352
275
246
3,081
National
do
924
990
12,784
13,443
Retail
do
WHOLESALE TRADE
Merchant wholesalers sales (unadj.),
total
mil $ 1 368 8511 384 754 111,786 103,995
49,217
45,888
613,382 631,819
Durable goods establishments
do
58,107
62,569
Nondurable goods establishments
do .... 755,469 752,935
Merchant wholesalers inventories, book value,
133,281 137,758 132,916 134,228
end of period (unadj ) total
mil $
85,213
86,090
87,052
86,713
Durable goods establishments
do
47,703 47,515
50,706
47,191
Nondurable goods establishments
do
RETAIL TRADE
All retail stores:
98,817
95,585
Estimated sales (unadj.), total
mil. $ 1,297,015 1,377,925
35,375 35,195
Durable goods stores $
do... 464,287 511,621
Building materials, hardware, garden
4,162
68,703 72,993
4,452
supply, and mobile home dealers mil. $..
21,790 22,329
277,008 310,135
Automotive dealers
do..
Furniture, home furnishings,
70,579
5,132
4,875
and equipment
do
63,581
63,442 60,390
Nondurable goods stores
do.... 832,728 866,304
9,134
9,315
General merch. group stores
do.... 153,642 160,342
22,279 20,799
Food stores
do... 269,959 281,496
7,990
7,202
100,997 102,748
Gasoline service stations
.
. -do
4,260
4,449
66,891 71,823
Apparel and accessory stores
do...
9,268
9,495
124,109 130,325
Eating and drinking places
do
3,584
3,703
44,165 47,349
Drug and proprietary stores
do..
1,342
1,471
19,419
19,494
110,972 112,096
Estimated sales (seas adj ) total
do
40,622 41,073
Durable goods stores $•
do .
Bldg. materials, hardware, garden sup5,774
5,618
Building materials and
4,180
4,094
supply stores
. ...'
do...
807
836
Hardware stores
do
24,621 24,949
Automotive dealers
do
Motor vehicle and miscellaneous
22,598 22,945
Auto and home supply
2,004
2,023
Furniture, home furnishings,
5,547
5,708
and equipment $
do ..
Furniture, home furnish3,049
2,891
Household appliance, radio, and
2,251
2,254
TV stores
do
See footnotes at end of tables.
6,144
22,975
'5,890
'22,969
'5,310
'23,654
1
1
99,685
37,680
1
'4,928
23,215
1
'8,462
6,646
'5,800
5,545
77,535 '93,156 '66,675 1 162,005
16,518 '24,857
'9,417
9,487
24,233 '25,365 '23,702 '21,640
8,448
'8,788
'8,215
'7,163
7,015 10,083
'4,759
'4,378
10,693 10,678 10,157
'9,619
3,943
'5,336
'3,994
'3,802
1,684
'2,266
1,477
115,409 117,567 117,364 '117,274
42,187 '43,994 '44,291 '44,203
5,862
6,263
5,953
5,852
6,080
6,096
6,107
6,290
6,367
'6,616
'6,907
'6,779
4,343
818
24,492
4,607
861
26,226
4,411
818
26,130
4,283
817
25,820
4,403
831
25,873
4,476
872
27,457
4,433
861
29,683
4,641
924
24,551
4,630
862
24,846
'4,918
'866
'26,089
5,172
852
'26,310
'25,956
22,417
24,076
24,011
23,744
23,800
25,384
27,576
22,462
22,673
'23,987
'24,198
'23,806
2,075
2,150
2,119
2,076
2,073
2,073
2,107
2,089
2,173
'2,102
2,112
5,674
5,614
5,931
5,718
5,704
5,832
6,000
6,153
6,112
'6,264
'6,294
3,011
2,956
3,135
3,038
3,097
3,125
3,155
3,140
3,151
'3,226
3,377
2,242
2,247
2,365
2,260
2,187
2,278
2,412
2,527
2,489
'2,561
2,433
'6,478
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
S-9
SURVEY OF CURRENT BUSINESS
March 1986
,T .,
units
1984
1986
1985
Annual
1985
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
72700
13,570
11 414
72946
13,'442
11 243
72937
13,344
11284
779
717
73222
13^587
11501
23380
21938
8,622
6,055
23896
22 500
8,528
6,073
23638
22,218
8,577
6,075
23,910
22,455
8,525
6,182
Feb.
Jan.
Dec.
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
All retail stores—Continued
Estimated sales (seas, adj.) — Continued
Nondurable goods stores
mil $
General merch. group stores
do....
Department stores
do
Variety stores
, do
Food stores
do
Grocery stores
...do.. .
Gasoline service stations
do....
Apparel and accessory stores #
do....
Men's and boys' clothing and
furnishings stores
.do .
Women's clothing, specialty stores,
and furriers
do
Shoe stores
.do.
Eating and drinking places. ..
.do .
Drug and proprietary stores
...do....
Liquor stores .
do
Estimated inventories, end of period:
Book value (unadjusted), total
mil. $..
Durable goods stores $
do
Bldg. materials, hardware, garden supply, and mobile home dealers
do....
Automotive dealers
do
Furniture, home furnishings,
and equipment
do....
Nondurable goods stores #
do....
General merch.
group
stores
do....
Department stores
do....
Food stores . .
. .
do
Apparel
and accessory
stores
do
Book value (seas, adj.), total
do....
Durable goods stores $
do
Bldg. materials, hardware, garden supply, and mobile home dealers
do....
Automotive dealers
do....
Furniture, home furn.,
and equip
do....
Nondurable goods stores #
do....
General merch. group stores
do....
Department stores
do
Food stores
. .. do....
Apparel and accessory
stores .
. . . . .
. . do . .
Firms with 11 or more stores:
Estimated sales (unadjusted),
total
. . .
mil $
Durable goods stores
.. do
Auto and home supply
stores
do
Nondurable goods stores $
do
General merchandise group
stores
do....
Food stores
do
Grocery stores
do
Apparel and accessory stores
do
Eating places
...do ..
Drug stores and proprietary
stores
do
Estimated sales(sea adj ) total 4£
do
Auto and home supply stores
do....
Department stores
do
Variety stores
do
Grocery stores
do....
Apparel and accessory stores
do....
Women's clothing, specialty stores,
and furriers
.
. do ...
Shoe stores
do
Drug stores and proprietary
stores
do....
70350
12,893
10781
71023
13,419
11266
71089
13,303
11 117
23076
21 720
8,349
5,490
23067
21,680
8,110
5,791
22980
21,514
8,441
5,963
737
772
763
72419
13,514
11349
760
23 476
22,018
8,784
5,949
72 095
13^269
11 127
71 666
13,063
10962
72076
13,131
11077
23284
21820
8,747
5,945
23 355
21966
8,628
5,915
23485
22109
8,627
5,859
754
741
724
730
710
691
678
707
733
921
2613
2549
952
2551
2568
10 515
3,853
1 636
10,616
3,904
1 575
10771
3,863
1 601
10,813
3,893
1625
10,971
3,871
1596
10895
3,907
1592
10,901
3,961
1607
10901
4047
1 598
10941
3982
1 745
923
893
r
160 927
80619
675
2505
889
877
888
11070
4,090
1597
r
150,882
73753
160,927
80619
150,987
75190
155,513
77 166
158,379
78343
159,628
78822
158,728
78490
157,701
78262
157,477
76383
156,570
73820
161,350
74826
11,769
35975
12,729
41 554
12,111
37231
12,387
38875
12,862
39008
12,983
39 015
13,093
38564
12,873
38674
12,983
36575
13,138
33307
13,193
33684
13,392
37427
r
13,226
40 387
12,729
41 554
12,158
77,129
13,286
80,308
12,061
75,797
12,104
78,347
12,495
80,036
12,744
80,806
12,842
80,238
12,928
79,439
12,809
81,094
13,015
82,750
13,297
86,524
14,056
91,834
14,393
r
92,662
13,286
80,308
28,164
22,243
15710
28,044
22,096
16819
27,238
21,489
15492
28,763
22,758
15,526
29,979
23,733
15,673
30,502
24,157
15,790
30,092
23,752
15765
29,369
22,961
15,845
29,953
23,200
15830
30,943
23,954
15799
32,965
25,647
16096
35,599
27,763
16925
r
36,044
r
28,443
17 276
28 044
22,096
16819
13144
155,517
74582
14599
165,617
81494
12883
157,770
76393
13641
159,163
76,838
13989
158,732
77,401
14,039
160,184
78,312
13853
158,867
77001
13666
158,508
77,344
14412
159,239
76894
15059
157,994
75823
15730
159,921
76770
16787 17 123
164,198 165,655
79990 r81 735
14 599
165,617
81494
12,234
35,796
13,259
41,348
12,537
37,046
12,387
37,816
12,548
37,982
12,544
38,591
12,626
37,224
12,584
37,658
12,996
36,758
13,164
35,320
13,367
36,026
13,596
38,426
r
13,537
40,549
13,259
41,348
12,331
80,935
31,253
24578
15,508
13,447
84,123
31,076
24,415
16,619
12,434
81,377
31,120
24587
15,664
12,364
82,325
31,379
24,845
15,699
12,608
81,331
30,815
24,342
15,673
12,912
81,872
30,802
24,254
15,838
12,933
81,866
30,608
24,065
15,892
12,889
81,164
30,082
23,550
15,876
12,925
82,345
30,329
23649
16,137
12,950
82,171
30,316
23,647
16,187
13,152
83,151
30,773
24059
16,259
13,581
84,208
31,063
24290
16,529
13,786
r
83,920
r
31,121
r
24 394
16,501
13,447
84,123
31,076
24415
16,619
13880
15,351
14087
14,435
14,159
14,253
14311
14,206
14661
14677
14770
15206
15 552
15351
450 430
37697
472 363
40002
32650
2506
31,534
2408
37,240
2945
37434
3170
40027
3538
37,997
3371
37312
3284
40610
3380
36948
3138
39507
3346
r
44 020
r
3717
57084
5199
4687
412 733
4894
432 361
342
309
382
410
431
417
423
426
409
455
30144
29 126
34295
34264
36489
34626
34028
37230
33810
36 161
r
r
454
40 303
51885
142,334
148 957
146 983
25,354
26,999
148,610
156 153
154 100
28 146
28,412
8,395
12585
12437
1 548
2,090
8,605
11 637
11473
1547
2,006
11,003
13010
12843
2157
2,398
11432
12592
12423
2239
2307
12316
13574
13'418
2239
2,459
11,488
12943
12787
2134
2,458
10,636
13 140
12987
2,003
2,494
12,553
13570
13413
2,607
2,586
11,140
12408
12260
2,212
2,386
12,239
12979
12,822
2,351
2,436
15,387
13 516
13
340
r
2,849
r
2,379
23,416
14199
13897
4,260
2,413
24387
26039
1993
38313
1938
38,902
2066
38824
2042
39361
2150
39200
2074
38964
2,099
39 051
2195
39670
2016
39608
2,122
39,604
r
420
421
3,197
40,382
10321
10788
10636
10863
10632
10486
10577
10943
10760
10794
673
614
12,704
2,172
12,635
2,259
12,616
2,264
12,927
2,311
12,865
2,285
12,890
2,312
617
617
12,884
2,306
12,702
2,399
13,070
2,367
12,925
2,393
r
2147
40,046
r
432
11r028
603
12,926
r
2,455
957
428
986
440
984
427
1,007
986
449
1,024
1,042
1,040
1,069
1,048
1,103
r
450
1,079
445
2,127
2,168
2,148
2,092
2,133
2,254
2,198
2,241
r
2,194
400
630
398
653
408
649
397
652
408
649
398
626
462
2,140
389
442
2,189
397
478
446
8,504
5,923
172,074 175,765
80240 r83 103
688
2464
466
2,169
13,628
'11,592
1
24,028
1
22,593
1
1
r
11058
4,028
1619
706
2438
948
r
24,214
r
22,807
r
671
729
2464
1
73 071
1
753
2518
711
2465
934
73 073
13,251
11,253
721
699
2423
884
r
2591
r
892
10
885
r
4,000
1631
696
2274
855
r
73 573
13,496
11r452
721
r
24 165
r
22,680
r
8,710
r
6,176
8,281
5,973
871
1r1 113
4,122
1623
1
181 361
117,122
1 691
179670
115,431
106,959
8,472
181 512
117,416
1 691
179 821
115725
106,685
9,041
11,031
4,124
1
436
423
10977
660
13,198
2,443
474
LABOR FORCE, EMPLOYMENT, AND EARNINGS
LABOR FORCE AND POPULATION
Not Seasonally Adjusted
Noninstitutional population, persons 16
years of age and over
thous
Labor force @
do....
Resident Armed Forces
do
Civilian noninstitutional population
.. do....
Civilian labor force total
..do....
Employed
do....
Unemployed
do....
Seasonally Adjusted <>
Participation rate t
Employed total
Employment-population ratio f
Agriculture
Unemployed total
Long term, 15 weeks and
over
See footnotes at end of tables.
percentthous ..
percent ..
thous ..
178,080
115,241
1 697
176,383
113,544
105,005
8,539
179,912
117,167
1,706
178,206
115,461
107,150
8,312
64.4
64.8
59.5
3,321
101,685
60.1
3,179
103,971
2,737
2,305
do....
do....
2
179,081
115,172
1,697
177,384
113,475
104,344
9,131
179,219
115,295
1,703
177,516
113,592
104,690
8,902
179,368
116,095
1,701
177,667
114,394
105,768
8,625
179,501
116,027
1,702
177,799
114,325
106,175
8,150
179,649
116,595
1,705
177,944
114,890
106,880
8,011
179,798
118,274
1,702
178,096
116,572
107,819
8,753
179,967
119,240
1,704
178,263
117,536
108,854
8,682
180,131
118,405
1,726
178,405
116,679
108,628
8,051
180,304
117,582
1,732
178,572
115,850
107,867
7,984
180,470
118,046
1,700
178,770
116,346
108,428
7,917
180,642
117,799
1,702
178,940
116,097
108,282
7,815
180,810
117,478
1 698
179 112
115,780
108,063
7,717
114,754
64.7
106,315
59.9
3,319
102,996
8,439
114,982
64.8
106,587
60.0
3,325
103,262
8,395
115,335
64.9
106,951
60.2
3,314
103,637
8,384
115,256
64.8
106,872
60.1
3,353
103,519
8,384
115,339
64.8
106,939
60.1
3,284
103,655
8,400
115,024
64.6
106,601
59.9
3,140
103,461
8,423
115,272
64.7
106,871
60.0
3,120
103,751
8,401
115,343
64.7
107,210
60.1
3,095
104,115
8,133
115,790
64.8
107,519
60.2
3,017
104,502
8,271
116,114
65.0
107,813
60.3
3,058
104,755
8,301
116,130
64.9
107,969
60.3
3,070
104,899
8,161
116 229
64.9
108,206
60.4
3,151
105,055
8,023
116 786
65.0
108,955
60.6
3,299
105 655
7,831
117 088
65.1
108,561
60.4
3,096
105,465
8,527
2,247
2,413
2,400
2,374
2,274
2,328
2,329
2,274
2,307
2,277
2,205
2,188
2,056
2,340
S-10
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
SURVEY OF CURRENT BUSINESS
,. II
.
^
1984
March 1986
1986
1985
Annual
1985
Jan.
Feb.
Apr.
Mar.
May
Nov.
Oct.
Sept.
Aug.
July
June
Feb.
Jan.
Dec.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
1
LABOR FORCE—Continued
Seasonally Adjusted <>
Civilian labor force — Continued
Unemployed — Continued
Rates(unemployed in each group as percent
of civilian labor force in the group):
All civilian workers
7.5
Men, 20 years and over
6.6
Women, 20 years and over
6.8
Both sexes, 16-19 years
18.9
White
6.5
Black . .
15.9
Hispanic origin . . .
10.7
Married men, spouse present
4.6
Married women, spouse present
5.7
Women who maintain families
10.4
Industry of last job:
Private nonagricultural wage and
salary workers
7.4
Construction ..
..
.. . .
14.3
Manufacturing
7.5
Durable goods
7.2
Agricultural wage and salary
workers
13.5
Not Seasonally Adjusted
Occupation:
Managerial and professional specialty
2.6
Technical, sales, and administrative
support
5.0
Service occupations
.
..
9.1
Precision production, craft, and repair....
7.5
Operators, fabricators, and laborers
11.5
8.5
Farming, forestry, and fishing
EMPLOYMENT
Employees on payrolls of nonagricultural estab.:
Total, not adjusted for seas, variation
thous.. 94,461
Private sector (excl government)
do.... 78,477
Seasonally Adjusted
Total employees, nonagricultural
94,461
payrolls
do
Private sector (excl government)
.
. do ... 78,477
Nonmanufacturing industries
do . . . . '59,065
24,730
Goods-producing
do
974
Mining
do .
4,345
Construction
do ..
19,412
Manufacturing
do
11,522
Durable goods
.
..
..
. .do ..
707
Lumber and wood products
do....
487
Furniture and fixtures
do....
595
Stone, clay and glass products..
do....
858
Primary metal industries
do....
1,464
Fabricated metal products
do....
2,197
Machinery, except electrical
do....
Electric and electronic
equip
.
.
.
. .do . . . 2,208
1,906
Transportation equipment
do....
Instruments and related
714
products
do
384
Miscellaneous manufacturing
do....
7,890
Nondurable goods
.
do ..
1,619
Food and kindred products
do....
65
Tobacco manufactures
do....
746
Textile mill products
do
Apparel and other textile
1,197
products
do....
681
Paper and allied products
do....
1,372
Printing and publishing
do....
1,048
Chemicals and allied products
do....
189
Petroleum and coal products
do....
Rubber and plastics prod782
ucts nee
...do ...
192
Leather and leather products
do....
69,731
5,171
Transportation and public utilities
do....
5,550
Wholesale trade .
do....
16,584
Retail trade
do ...
Finance, insurance, and real
5,682
estate
do....
20,761
15,984
Government
do....
2,807
Federal
do....
3,712
State
•
• do ...
9,465
Local
• •
do....
Production or nonsupervisory workers on private
nonagric. payrolls, not seas, adjusted
thous.. 63,576
13,310
Manufacturing
do...
Seasonally Adjusted
Production or nonsupervisory workers on private
63,576
nonagricultural payrolls
thous .
17,378
Goods-producing...
do...
693
Mining
do .
3,375
Construction
do ..
13,310
Manufacturing
do .
7,749
Durable goods .
do .
592
Lumber and wood products
.. do...
391
Furniture and fixtures
do...
Stone, clay, and glass
products
.
do
457
Primary metal industries
do...
652
Fabricated metal products
do..
1,079
Machinery except electrical
do...
1,328
Electric and electronic
1,354
Transportation equipment
do..
1,218
Instruments and related
398
280
Miscellaneous manufacturing
do . .
See footnotes at end of tables.
7.1
6.0
6.6
17.5
6.1
14.1
10.4
4.1
5.4
10.8
7.1
6.1
6.7
18.1
6.1
15.2
10.4
4.3
5.6
11.3
7.1
6.1
6.4
19.8
6.1
14.9
11.1
4.2
5.3
10.4
7.0
6.0
6.4
18.4
5.9
15.6
10.7
4.3
5.5
10.0
6.9
5.9
6.2
18.8
5.9
14.9
10.4
4.3
5.3
9.4
6.7
5.7
6.1
18.4
5.7
14.4
10.1
4.3
5..1
9.9
7.3
6.2
6.7
19.0
6.4
14.8
12.3
4.5
5.5
9.9
7.1
13.1
7.8
7.9
7.2
13.6
7.7
7.7
7.1
13.5
7.5
7.3
7.0
13.4
7.7
7.6
6.9
12.6
7.3
7.3
6.7
12.9
7.0
7.0
7.2
13.2
7.2
7.4
14.0
14.0
13.3
12.9
12.5
10.6
10.9
14.3
2.7
2.7
2.9
2.7
2.3
2.1
2.0
2.3
2.4
5.0
8.9
6.5
10.3
6.0
5.0
9.1
6.8
10.7
6.6
4.9
8.5
6.4
11.0
6.3
4.8
8.2
6.2
10.4
6.2
4.9
8.8
6.7
10.4
6.7
4.9
8.8
6.0
10.6
7.4
4.4
8.5
6.7
10.9
9.0
4.2
8.9
7.2
10.6
9.4
4.7
9.0
8.3
12.3
9.7
5.3
9.1
9.5
12.3
12.4
96,909
80,434
97,787
81,247
98,377
82,047
97,650
82,069
97,915
82,481
98,776
82,633
99,309
82,697
99,590
82,827
r
99,729
'82,999
'98,046
'81,576
"98,332
"81,571
96,910
80,767
61,241
25,056
977
4,553
19,526
11,651
701
499
601
832
1,480
2,220
97,120
80,962
61,495
25,090
982
4,641
19,467
11,608
694
497
600
823
1,479
2,207
97,421
81,208
61,782
25,066
982
4,658
19,426
11,586
697
493
599
819
1,477
2,203
97,473
81,260
61,862
25,010
974
4,638
19,398
11,560
694
494
598
815
• 1,472
2,191
97,707
81,366
62,015
24,980
969
4,660
19,351
11,509
697
494
599
806
1,467
2,175
97,977
81,634
62,272
25,015
965
4,688
19,362
11,519
700
499
601
798
1,467
2,167
98,217
81,765
62,486
24,962
962
4,721
19,279
11,449
701
494
598
795
1,462
2,143
98,559
82,073
62,735
25,051
960
4,753
19,338
11,493
708
496
600
799
1,465
2,143
98,801
82,317
62,936
25,089
954
4,754
19,381
11,512
712
497
601
804
1,466
2,137
r
99,086
'82,573
r
63,140
'25,155
r
952
'4,770
19,433
11,534
'715
'499
604
'810
1,463
'2,133
'99,507
'83,026
'63,566
'25,317
'948
'4,909
19,460
11,546
'721
'499
'607
'803
1,463
'2,135
"99,733
"83,238
"63,807
"25,249
"934
"4,884
"19,431
"11,521
"718
"497
"608
"805
"1,455
"2,126
2,248
1,972
2,243
1,969
2,223
1,982
2,216
1,981
2,205
1,990
2,190
1,985
2,194
1,995
2,175
1,986
2,179
2,008
2,180
2,017
'2,186
'2,025
'2,190
'2,026
"2,190
"2,018
723
385
7,902
1,633
67
720
725
381
7,886
1,633
66
712
727
379
7,875
1,638
66
706
726
377
7,859
1,630
66
707
723
378
7,840
1,634
66
701
725
376
7,838
1,644
66
699
724
372
7,842
1,630
65
696
725
373
7,843
1,638
64
697
722
373
7,830
1,633
65
695
722
373
7,845
1,636
64
698
723
375
7,869
1,638
65
700
725
'374
'7,899
'1,655
64
'700
725
377
'7,914
1,652
65
'702
"725
"379
"7,910
"1,659
"65
"705
1,161
683
1,421
1,042
177
1,182
683
1,403
1,052
185
1,175
682
1,406
1,052
184
1,167
682
1,407
1,052
183
1,164
681
1,411
1,049
182
1,153
682
1,414
1,044
181
1,142
684
1,419
1,042
180
1,160
684
1,426
1,040
178
1,152
683
1,429
1,038
176
1,155
681
1,427
1,040
170
1,158
682
1,431
1,036
170
1,160
688
1,442
1,033
169
1,171
r
686
1,442
1,033
169
1,173
'689
1,450
1,032
169
"1,157
"691
"1,453
"1,031
"168
794
175
72,643
5,300
5,769
17,425
798
179
71,307
5,259
5,686
17,090
799
177
71,529
5,272
5,697
17,160
798
176
71,854
5,269
5,714
17,249
795
174
72,030
5,278
5,733
17,280
791
174
72,355
5,301
5,748
17,392
789
173
72,463
5,295
5,768
17,425
787
176
72,727
5,302
5,773
17,453
792
174
72,962
5,282
5,791
17,514
790
174
73,255
5,317
5,805
17,539
795
175
73,508
5,327
5,830
17,610
800
174
73,712
5,342
5,833
17,640
804
'175
'73,931
'5,350
'5,848
17,702
810
"810
172
"171
'74,190 "74,484
'5,360 "5,350
'5,874 "5,900
17,840 "17,957
5,924
21,930
16,295
2,875
3,780
9,640
5,790
21,382
16,100
2,836
3,730
9,534
5,809
21,480
16,111
2,834
3,733
9,544
5,835
21,644
16,143
2,850
3,744
9,549
5,858
21,723
16,158
2,859
3,749
9,550
5,888
21,813
16,213
2,873
3,759
9,581
5,906
21,856
16,213
2,872
3,765
9,576
5,932
21,926
16,341
2,878
3,788
9,675
5,959
22,073
16,343
2,886
3,789
9,668
5,987
22,155
16,452
2,904
3,818
9,730
6,011
22,244
16,486
2,89£
3,827
9,767
6,048
22,365
16,484
2,904
3,833
9,747
'6,068
'22,450
16,513
'2,914
'3,827
9,772
'6,100 "6,128
'22,535 "22,654
16,481 "16,495
2,910 "2,914
'3,832 "3,833
'9,739 "9,748
65,922
13,214
63,765
13,223
63,675
13,187
64,268
13,209
65,058
13,182
65,815
13,206
66,511
13,291
66,476
13,071
66,868
13,244
67,020
13,305
67,080
13,263
67,193
13,219
'67,333
13,171
'65,926 "65,876
13,059 "13,048
65,922
17,554
688
3,652
13,214
7,692
588
396
65,058
17,638
690
3,549
13,399
7,843
595
400
65,177
17,578
692
3,539
13,347
7,806
589
399
65,376
17,574
691
3,574
13,309
7,776
585
400
65,571
17,597
699
3,649
13,249
7,730
579
397
65,735
17,555
701
3,651
13,203
7,704
580
393
65,766
17,495
694
3,632
13,169
7,671
576
394
65,869
17,475
690
3,648
13,137
7,630
583
394
66,110
17,504
686
3,673
13,145
7,638
588
398
66,211
17,470
684
3,699
13,087
7,586
588
394
66,473
17,538
681
3,717
13,140
7,627
596
395
66,699
17,560
678
3,713
13,169
7,636
601
396
'66,903
17,627
'675
'3,733
13,219
'7,651
'604
'398
'67,270 "67,461
17,767 "17,708
"664
'674
'3,862 "3,834
13,231 "13,210
'7,655 "7,631
609
"604
399
"398
460
617
1,087
1,310
463
640
1,099
1,346
461
636
1,097
1,340
462
630
1,094
1,335
460
621
1,093
1,325
460
618
1,091
1,323
459
615
1,086
1,314
459
609
1,082
1,303
460
602
1,082
1,298
459
601
1,080
1,284
460
605
1,084
1,290
462
610
1,082
1,282
464
617
1,080
1,280
1,306
1,260
1,366
1,257
1,357
1,251
1,345
1,251
1,322
1,264
1,313
1,260
1,303
1,260
1,290
1,253
1,288
1,260
1,273
1,251
1,275
1,267
1,275
1,271
1,272
1,278
393
271
399
278
400
276
399
275
397
272
394
272
394
270
391
266
392
270
389
267
388
267
388
269
7.2
6.2
6.6
18.6
6.2
15.1
10.5
4.3
5.6
10.4
7.4
6.3
6.8
18.9
6.4
15.1
10.6
4.5
5.7
10.2
7.3
6.3
6.7
18.4
6.2
16.0
10.0
4.4
5.4
10.9
7.3
6.2
6.7
18.2
6.3
15.2
10.3
4.3
5.8
10.3
7.3
6.3
6.7
17.9
6.3
15.2
10.4
4.3
5.8
10.7
7.3
6.1
6.8
18.8
6.2
15.4
10.6
4.0
5.7
10.8
7.3
6.4
6.7
18.6
6.4
14.4
10.6
4.6
5.8
9.9
7.3
6.2
6.6
19.3
6.3
15.0
10.9
4.4
5.7
10.3
7.2
13.1
7.7
7.6
7.3
13.5
7.6
7.2
7.3
13.4
7.6
7.3
7.2
13.3
7.7
7.5
7.3
13.3
7.9
7.7
7.2
11.0
7.8
7.8
7.3
13.5
7.7
7.9
7.3
13.4
7.9
7.9
13.2
15.4
13.6
12.5
13.2
11.9
12.5
2.4
2.6
2.3
2.3
2.3
2.3
4.8
8.8
7.2
11.2
8.6
5.3
9.0
9.2
13.4
13.4
5.1
8.9
8.9
13.1
12.8
4.9
8.8
8.4
12.5
10.7
4.6
8.6
7.8
11.5
8.2
97,699
81,404
95,034
78,942
95,271
78,898
96,045
79,577
97,699
81,404
61,978
25,057
969
4,662
19,426
11,566
702
496
600
815
1,472
2,180
96,419
80,319
60,715
25,112
974
4,534
19,604
11,702
709
499
602
844
1,486
2,228
96,591
80,480
60,919
25,062
976
4,525
19,561
11,675
704
498
600
840
1,483
2,224
2,207
1,990
2,252
1,974
724
376
7,860
1,636
65
702
,
389
'269
'468
'611
1,083
1,280
"469
"613
"1,075
"1,270
1,266
1,277
"1,267
"1,268
'39
'27
"393
"274
SURVEY OF CURRENT BUSINESS
March 1986
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
,
vT
Annual
.,s
1984
S-ll
1986
1985
1985
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT— Continued
Seasonally Adjusted
Production or nonsupervisory workers — Continued
Nondurable goods
thous ..
Food and kindred products
do....
Tobacco manufactures
do .
Textile mill products
do
Apparel and other textile
products
do
Paper and allied products
do ..
Printing and publishing
do....
Chemicals and allied products
do....
Petroleum and coal products
do ....
Rubber and plastics products, nee
do
Leather and leather products
...do....
Service-producing
do
Transportation and public utilities
...do....
Wholesale trade
do ....
Retail trade
do....
Finance, insurance, and real
estate
do
Services
do.. .
AVERAGE HOURS PER WEEK
Seasonally Adjusted
Avg. weekly hours per worker on private nonag.
payrolls: <>
Not seasonally adjusted
hours..
Seasonally adjusted
do....
Mining $
....do....
Construction
do
Manufacturing:
Not seasonally 'adjusted...
do .
Seasonally adjusted
do .
Overtime hours
do....
Durable goods
do. ..
Overtime hours
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
equip
do....
Transportation equipment
do....
Instruments
and related
products
do....
Miscellaneous manufacturing
do....
Nondurable goods
do
Overtime hours
do
Food and kindred products
do....
Tobacco manufactures
do....
Textile mill products
do....
Apparel and other textile
products
. .
do
Paper and allied products . ...
do
Printing and publishing
do ...
Chemicals and allied products
do....
Petroleum and coal products
do....
Rubber and plastics products nee rji
do
Leather and leather products
do....
Transportation and public utilities
do....
Wholesale trade
do....
Retail trade
do
Finance, insurance, and real
estate "j" . . .
do ..
Services
do....
AGGREGATE EMPLOYEE-HOURS
Seasonally Adjusted
Employee-hours, wage & salary workers in nonagric. establish, for 1 week in the month,
seas adj at annual rate
bil. hours..
Total private sector
do....
Mining
do
Construction . . . .
.
...
do
Manufacturing
do....
Transportation and public utilities
do....
Wholesale trade
do .
Retail trade
do....
Finance, insurance, and real
estate
do...
Services
do
Government
do
Indexes of employee-hours (aggregate weekly): <>
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
Wholesale trade
Retail trade
Finance, insurance, and real
estate
Services
See footnotes at end of tables.
5,561
1,124
49
646
5,523
1,143
49
606
5,556
1,138
51
622
5,541
1,138
50
614
5,533
1,143
49
610
5,519
1,138
50
611
5,499
1,141
49
605
5,498
1,153
49
603
5,507
1,139
49
602
5,507
1,146
48
601
5,501
1,141
49
600
5,513
1,141
48
603
5,533
1,145
49
604
'5,568
1,161
48
'605
'5,576
1,158
'48
'606
"5,579
"1,168
"48
"608
1,012
512
756
582
111
979
516
784
575
107
998
515
773
580
111
992
514
775
580
111
986
515
777
579
110
983
513
778
578
109
970
516
780
575
108
962
516
782
575
108
978
516
788
574
108
970
517
790
574
108
975
516
788
575
104
976
517
789
575
104
978
521
795
571
104
988
'520
'798
572
105
'990
'522
'803
'568
105
"976
"524
"803
"572
"105
609
160
46,198
4,270
4,469
14,853
614
145
48,367
4,387
4,657
15,563
620
148
47,420
4,344
4,589
15,278
621
146
47,599
4,355
4,596
15,337
619
145
47,802
4,358
4,610
15,391
615
144
47,974
4,365
4,631
15,430
611
144
48,180
4,385
4,644
15,521
607
143
48,271
4,382
4,662
15,568
606
147
48,394
4,390
4,663
15,574
608
145
48,606
4,369
4,676
15,652
608
145
48,741
4,403
4,685
15,668
615
145
48,935
4,414
4,702
15,732
621
145
49,139
4,434
4,707
15,762
626
145
'49,276
'4,441
'4,718
15,806
632
144
'49,503
'4,445
'4,743
15,932
"633
"142
"49,753
"4,437
"4,760
"16,052
4,224
18,382
4,392
19,368
4,298
18,911
4,309
19,002
4,328
19,115
4,343
19,205
4,364
19,266
4,381
19,278
4,400
19,367
4,416
19,493
4,436
19,549
4,451
19,636
4,479
19,757
'4,494
19,817
'4,518
19,865
"4,536
"19,968
34.7
35.1
42.9
37.7
34.6
35.1
43.2
37.8
35.0
35.2
43.6
38.1
34.9
35.0
43.3
38.0
35.0
35.1
43.5
37.6
35.4
35.1
43.7
37.2
35.3
35.0
42.9
37.6
35.4
35.1
43.3
37.5
35.2
35.1
43.7
37.9
35.1
35.1
43.2
37.9
34.9
35.0
43.3
37.4
35.3
35.1
'43.8
'37.1
'34.8
'35.2
'44.5
'38.7
"34.6
"35.0
"43.0
"36.3
35.3
35.1
43.3
37.7
43.4
37.7
40.7
40.5
3.4
41.4
3.6
39.9
39.7
42.0
41.7
41.4
41.9
3.3
41.2
3.5
39.8
39.4
41.9
41.5
41.3
41.5
40.3
40.6
3.4
41.3
3.6
39.7
40.4
41.7
41.0
41.4
41.7
39.7
40.1
3.3
40.7
3.5
38.9
39.5
41.6
40.9
40.9
41.1
40.4
40.4
3.2
41.1
3.5
39.6
39.5
42.0
41.1
41.1
41.6
40.1
40.2
3.4
40.9
3.6
39.5
39.3
42.0
41.0
41.1
41.2
40.3
40.4
3.1
41.1
3.2
39.8
38.9
42.1
41.2
41.1
41.4
40.6
40.4
3.2
41.2
3.3
40.1
38.9
41.9
41.6
41.3
41.6
40.1
40.3
3.2
41.0
3.3
39.7
38.8
42.0
41.4
41.3
41.3
40.4
40.6
3.3
41.3
3.4
40.0
39.2
42.0
41.7
41.4
41.6
40.8
40.7
3.3
41.3
3.5
40.1
39.4
42.0
41.5
41.6
41.6
40.7
40.7
3.4
41.3
3.5
40.3
39.4
42.1
41.8
41.5
41.6
40.9
40.7
3.4
41.3
3.6
39.9
39.4
41.6
41.8
41.4
41.6
41.6
41.0
3.6
41.7
3.8
'40.2
'40.1
41.7
42.2
41.6
41.8
'40.7
40.9
3.5
41.6
3.7
40.3
'40.6
'42.7
'41.9
41.6
'41.6
"40.2
"40.6
"3.4
"41.3
"3.5
"39.6
"39.9
"41.9
"41.9
"41.6
"41.5
41.0
42.7
40.6
42.7
40.8
43.1
40.2
41.9
40.7
42.5
40.2
42.3
40.4
42.6
40.6
42.3
40.3
42.5
40.7
42.9
40.5
42.9
40.6
42.8
41.0
42.6
41.4
'43.2
'41.2
'43.0
"40.8
"42.6
41.3
39.4
39.6
3.1
39.8
38.9
39.9
41.0
39.4
39.5
3.1
40.0
37.2
39.7
41.2
39.2
39.5
3.0
39.8
38.3
39.2
40.7
39.0
39.3
2.9
39.7
39.2
38.8
41.0
39.1
39.4
2.9
39.8
38.9
39.1
40.7
39.0
39.1
3.0
39.6
35.4
38.8
40.9
39.3
39.4
2.9
40.1
37.0
38.9
41.1
39.4
39.4
3.0
39.6
36.6
39.4
40.7
39.0
39.4
3.0
40.0
34.6
39.1
40.7
39.3
39.6
3.1
39.9
36.8
40.0
40.9
39.8
39.8
3.1
40.2
36.9
40.7
40.8
39.9
39.9
3.2
40.3
38.2
40.7
41.1
39.7
39.8
3.2
39.9
35.2
41.0
'41.9
40.0
40.1
3.4
40.3
38.0
41.3
'41.3
'40.4
'40.0
3.3
'40.2
'38.3
'40.9
"41.1
"39.8
"39.6
"3.2
"39.9
"37.7
"40.2
36.4
43.1
37.9
41.9
43.7
36.3
43.1
37.7
41.9
43.0
36.2
43.0
37.8
42.0
43.2
35.9
42.9
37.7
41.9
43.1
36.1
42.9
37.6
42.1
43.3
35.6
43.0
37.6
41.9
42.0
36.2
43.0
37.4
41.9
41.7
36.3
42.9
37.5
42.0
42.6
36.3
42.7
37.5
41.8
42.9
36.4
43.0
37.9
41.8
43.3
36.5
43.1
38.0
41.6
43.4
36.6
43.3
37.9
41.7
44.3
36.8
43.3
37.8
41.9
43.1
'37.0
43.6
38.2
'42.0
'43.7
'37.0
'43.7
37.9
'42.0
'43.5
"36.0
"43.6
"37.7
"41.8
"43.3
41.7
36.8
39.4
38.6
30.0
41.1
37.3
39.4
38.7
29.7
41.5
36.8
39.3
38.6
29.8
40.5
36.4
39.4
38.6
29.8
41.1
37.1
39.5
38.7
29.8
40.9
37.0
39.4
38.6
29.7
40.9
37.1
39.5
38.7
29.9
41.2
37.0
39.5
38.8
29.9
40.6
37.0
39.2
38.6
29.7
40.7
37.3
39.6
38.6
29.6
41.1
37.8
39.5
38.7
29.6
41.1
37.9
39.5
38.6
29.5
41.3
37.7
39.4
38.7
29.5
42.0
37.8
'39.5
38.7
29.3
41.3
'37.4
'39.6
'38.8
'29.5
"41.0
"36.8
"39.7
"38.8
"29.4
36.5
32.8
36.4
32.8
36.4
32.7
36.4
32.8
36.4
32.8
36.4
32.7
36.3
32.8
36.7
32.8
36.3
32.7
36.3
32.8
36.4
32.8
36.3
32.9
36.2
32.8
36.7
32.8
'36.5
'32.9
"37.0
"32.9
177.61
145.86
2.20
8.52
40.96
10.61
11.14
25.87
183.06
150.60
2.19
9.14
40.89
10.89
11.60
26.88
180.77
148.64
2.19
8.88
41.29
10.71
11.41
26.46
180.65
148.98
2.20
8.93
41.03
10.82
11.44
26.58
181.94
149.70
2.22
9.05
41.02
10.83
11.48
26.79
181.70
149.67
2.23
9.16
40.71
10.85
11.51
26.73
182.43
150.25
2.23
9.12
40.76
10.86
11.58
26.99
182.67
150.54
2.22
9.03
40.75
10.91
11.63
27.07
182.63
150.27
2.17
9.11
40.61
10.84
11.60
26.98
183.30
150.83
2.18
9.13
40.77
10.88
11.64
26.99
184.32
151.30
2.19
9.32
40.67
10.94
11.69
26.94
185.41
151.85
2.15
9.36
40.85
10.98
11.70
27.01
185.63
152.04
'2.15
r
9.21
'40.91
11.00
11.74
'27.10
185.57
152.64
2.16
'9.18
41.28
11.00
11.76
'26.89
186.30
152.70
2.18
9.84
41.21
10.99
11.77
27.35
10.79
35.76
'31.75
11.23
37.79
32.45
10.97
36.73
32.13
10.99
36.99
31.68
11.06
37.24
32.24
11.10
37.38
32.03
11.13
37.59
32.18
11.27
37.66
32.13
11.20
37.76
32.36
11.26
37.97
32.48
11.36
38.21
33.01
11.36
38.44
33.56
r
38.55
r
11.39
33.60
11.60
'38.76
'32.93
11.56
38.80
32.60
112.9
98.8
112.0
115.5
95.0
94.2
96.0
120.6
116.4
99.4
111.3
124.8
93.9
93.0
95.1
125.8
115.0
100.0
110.9
121.3
95.3
95.2
95.6
123.3
115.1
98.8
112.2
121.2
93.9
93.3
94.7
124.0
115,7
99.6
112.6
123.4
94.3
93.9
95.0
124.6
115.6
99.1
113.6
125.7
93.3
92.8
94.1
124.7
116.2
99.1
114.0
124.4
93.4
92.9
94.3
125.7
116.3
98.6
112.6
122.4
93.4
92.7
94.3
126.1
116.0
98.5
111.1
124.3
92.9
91.9
94.4
125.7
116.7
99.1
110.5
124.8
93.5
92.6
94.9
126.4
117.0
99.2
110.4
127.1
93.3
92.0
95.3
126.8
117.4
99.7
109.7
127.7
93.8
92.6
95.7
127.2
117.6
99.5
109.5
125.9
94.0
92.6
95.9
127.6
118.1
100.4
109.0
125.5
95.1
93.7
97.3
127.9
119.3
102.0
112.3
135.5
95.0
'93.6
97.1
128.9
"118.9
"99.5
"107.2
"126.1
"94.0
"92.6
"96.2
"129.6
do .
do
105.2
114.7
113.4
108.1
119.7
117.5
106.7
117.7
115.9
107.2
117.9
116.4
107.6
118.6
116.8
107.5
118.8
116.7
108.2
119.5
118.2
108.2
120.2
118.5
107.5
119.6
117.8
108.1
120.0
118.0
108.7
120.5
118.1
109.0
120.6
118.2
109.2
121.1
118.4
109.6
121.4
117.9
110.0
122.3
119.7
"110.1
"122.8
"120.2
do....
do . .
124.5
133.3
129.2
140.4
126.1
136.8
126.8
137.9
127.7
138.7
127.8
138.9
128.0
139.8
130.3
139.9
128.7
140.1
129.5
141.4
130.8
141.8
130.6
142.9
131.4
143.3
132.9
143.8
132.9
144.6
"135.6
"145.3
S-12
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
SURVEY OF CURRENT BUSINESS
Annual
,. -t
units
1984
March 1986
1986
1985
1985
Jan.
Feb.
Mar.
Apr.
May
Aug.
July
June
Nov.
Oct.
Sept.
Dec.
Jan.
Feb.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS
Average hourly earnings per worker: <>
Not seasonally adjusted:
Private nonagric. payrolls
dollars..
Mining
.
do
Construction
.
do
Manufacturing
do
Excluding overtime
do ...
Durable goods
do
Excluding overtime
do
Lumber and wood products
do....
Furniture and fixtures
do....
Stone, clay, and glass products
do....
Primary metal industries
do....
Fabricated metal products
do....
Machinery, except electrical
do....
Electric and electronic
equip
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 trade
do
Retail trade
do
Finance, insurance, and real
estate...
do....
Services
do
Seasonally adjusted:
Private nonagricultural payrolls
dollars . .
Construction
do
Manufacturing
. do....
Transportation and public utilities
do....
Wholesale trade
do....
Retail trade
do....
Finance, insurance, and real
estate
do....
Services
do....
Indexes of avg. hourly earnings, seas, adj.: <)
Private nonfarm economy:
Current dollars
1977-100..
1977 dollars $
do....
Mining
do....
Construction
do
Manufacturing
. .
. do .
Transportation and public utilities
do ....
Wholesale trade
do....
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
Railroad wages (average, class I)
do....
Avg. weekly earnings per worker,
private nonfarm: <>
Current dollars seasonally adjusted
1977 dollars seasonally adjusted t
Current dollars, not seasonally adjusted:
Private nonfarm, total
dollars..
8.33
11.63
12.12
9.18
8.81
9.74
9.34
8.03
6.85
9.57
11.47
9.38
9.96
8.58
11.95
12.26
9.52
9.14
10.09
9.69
8.20
7.19
9.83
11.68
9.66
10.29
8.50
11.86
12.30
9.43
9.07
9.99
9.59
8.10
7.01
9.70
11.55
9.59
10.13
8.52
11.90
12.33
9.43
9.07
9.99
9.59
8.09
7.01
9.73
11.69
9.59
10.14
8.52
11.91
12.22
9.45
9.09
10.01
9.61
8.06
7.07
9.71
11.66
9.62
10.15
8.54
11.93
12.21
9.48
9.13
10.03
9.64
8.04
7.08
9.80
11.64
9.64
10.17
8.53
11.86
12.19
9.48
9.13
10.04
9.66
8.12
7.11
9.80
11.64
9.63
10.22
8.56
11.99
12.12
9.50
9.13
10.08
9.68
8.24
7.18
9.84
11.65
9.65
10.28
8.54
11.88
12.16
9.53
9.17
10.10
9.72
8.20
7.22
9.89
11.78
9.66
10.31
8.54
11.95
12.22
9.48
9.10
10.05
9.65
8.26
7.22
9.87
11.63
9.61
10.27
8.68
12.00
12.40
9.55
9.14
10.15
9.72
8.31
7.29
9.90
11.69
9.70
10.39
8.65
11.95
12.36
9.54
9.15
10.14
9.72
8.29
7.31
9.86
11.61
9.68
10.41
8.68
12.02
12.22
9.61
9.21
10.21
9.78
8.28
7.34
9.90
11.76
9.73
10.48
'8.73
12.22
12.42
9.72
9.29
10.34
'9.86
'8.34
7.40
r
9.94
11.84
'9.88
10.55
8.74
12.19
12.29
'9.68
'9.29
10.27
'9.86
8.28
'7.36
'9.94
11.82
'9.81
10.49
"8.74
"12.29
"12.31
"9.68
"9.31
9.04
12.22
9.47
12.71
9.33
12.67
9.33
12.63
9.39
12.59
9.40
12.63
9.39
12.63
9.46
12.66
9.47
12.65
9.50
12.65
9.55
12.78
9.56
12.77
9.61
12.83
'9.68
13.06
'9.62
12.90
"9.60
"12.86
8.85
9.19
9.00
9.11
9.10
9.11
9.13
9.15
9.20
9.22
9.28
9.27
9.30
9.42
'9.35
"9.36
7.04
8.37
8.05
8.38
11.27
6.46
7.28
8.68
8.35
8.54
12.05
6.71
7.23
8.59
8.30
8.48
11.39
6.59
7.19
8.60
8.31
8.51
11.80
6.60
7.20
8.61
8.32
8.53
12.00
6.64
7.22
8.67
8.37
8.59
12.16
6.70
7.28
8.64
8.34
8.58
12.65
6.68
7.28
8.65
8.34
8.55
12.83
6.69
7.30
8.72
8.39
8.54
12.91
6.69
7.26
8.67
8.33
8.47
12.44
6.72
7.30
8.70
8.34
8.51
11.47
6.75
7.30
8.69
8.34
8.49
11.45
6.76
7.35
8.75
8.40
8.58
12.08
6.79
'7.47
8.84
'8.47
'8.68
11.90
6.83
'7.48
8.82
8.49
'8.70
11.96
'6.85
"7.47
"8.83
"8.50
"8.68
"12.26
"6.83
5.55
10.41
9.40
11.08
13.43
5.73
10.82
9.69
11.57
14.04
5.73
10.63
9.58
11.39
13.96
5.70
10.64
9.60
11.39
13.99
5.73
10.64
9.61
11.37
14.06
5.74
10.72
9.60
11.48
14.18
5.69
10.75
9.60
11.46
14.00
5.70
10.79
9.61
11.52
13.97
5.70
10.91
9.67
11.60
14.03
5.68
10.86
9.73
11.62
13.99
5.75
10.90
9.79
11.67
14.07
5.73
10.91
9.75
11.72
13.97
5.75
10.97
9.81
11.82
14.06
'5.80
11.07
9.90
11.87
14.22
'5.82
10.99
'9.81
11.86
14.25
"5.80
"11.00
"9.83
"11.84
"14.06
8.29
5.70
11.11
8.96
5.88
8.53
5.82
11.38
9.26
5.97
8.49
5.82
11.26
9.16
5.97
8.48
5.79
11.27
9.22
5.99
8.46
5.82
11.24
9.19
5.97
8.48
5.84
11.27
9.24
5.96
8.45
5.83
11.24
9.24
5.97
8.50
5.83
11.32
9.28
5.94
8.54
5.83
11.35
9.27
5.93
8.51
5.80
11.40
9.25
5.91
8.55
5.82
11.52
9.33
5.99
8.53
5.76
11.46
9.25
5.97
8.62
5.83
11.57
9.32
6.00
'8.72
'5.83
11.60
9.41
'6.02
'8.68
'5.87
11.60
'9.37
'6.06
"8.71
"5.87
"11.67
"9.38
"6.06
7.62
7.64
7.93
7.95
7.77
7.84
7.87
7.87
7.87
7.87
7.85
7.89
7.83
7.88
7.95
7.91
7.87
7.86
7.90
7.87
8.03
8.04
8.00
8.04
8.05
8.10
8.14
'8.16
'8.14
'8.17
"8.23
"8.22
8.33
11.58
12.12
9.18
11.11
8.96
5.88
8.58
11.95
12.26
9.52
11.38
9.26
5.97
8.44
0)
12.20
9.38
11.21
9.09
5.92
8.49
C1)
12.27
9.41
11.25
9.20
5.94
8.52
C1)
12.22
9.43
11.27
9.23
5.95
8.54
(a) '
12.26
9.48
11.30
9.22
5.94
8.55
0)
12.25
9.49
11.31
9.24
5.96
8.59
C1)
12.23
9.51
11.40
9.32
5.94
8.57
0)
12.23
9.53
11.36
9.27
5.95
8.60
0)
12.26
9.56
11.41
9.27
5.96
8.65
0)
12.30
9.56
11.49
9.32
6.00
8.64
(*)
12.26
9.58
11.44
9.26
5.99
8.67
(')
12.28
9.61
11.50
9.34
6.00
8.74
C1)
12.36
9.66
11.55
9.41
'6.06
8.68
C1)
12.19
'9.62
11.54
'9.30
'6.01
"8.72
C1)
"12.25
"9.66
"11.66
"9.36
"6.01
7.62
7.64
7.93
7.95
7.70
7.74
7.81
7.81
7.86
7.86
7.85
7.88
7.81
7.89
7.98
7.97
7.90
7.94
7.95
7.97
8.05
8.03
8.01
8.03
8.07
8.08
8.16
8.13
'8.06
'8.07
"8.17
"8.16
160.7
94.8
173.8
148.0
162.8
161.7
165.7
153.9
165.5
'94.4
178.8
149.8
168.6
166.0
171.2
156.1
163.0
94.5
177.4
149.2
166.3
163.5
169.2
154.5
164.0
94.7
178.4
150.8
166.9
164.2
170.2
155.4
164.4
94.5
177.8
149.9
167.4
165.4
169.9
155.5
164.8
94.4
178.6
150.4
167.9
165.0
170.6
155.6
164.9
94.3
177.9
150.0
168.4
165.0
170.7
155.9
165.6
94.5
178.9
149.3
168.6
166.6
171.3
155.9
165.4
94.3
178.8
149.0
169.0
166.0
171.1
155.8
165.7
'94.2
178.8
149.4
169.3
166.1
170.8
155.8
166.7
'94.6
179.3
150.0
169.1
167.3
172.3
157.2
166.4
'94.1
178.7
149.4
169.4
167.0
171.0
156.7
167.1
94.1
180.0
148.9
170.1
168.1
172.2
157.4
168.4
'94.4
181.7
150.5
170.8
169.2
173.9
158.9
167.5
'93.6
180.8
149.3
170.7
169.1
172.9
157.1
"168.5
"94.6
"180.7
"150.3
"171.4
"170.6
"173.2
"157.5
165.6
162.9
171.7
169.3
168.2
164.9
170.2
166.2
170.3
167.2
170.0
167.8
169.8
167.6
172.1
169.8
170.5
169.0
171.2
169.6
173.8
171.5
173.0
171.1
174.1
172.1
176.0
173.4
175.9
171.9
"178.1
"173.4
15.71
20.66
13.33
15.95
20.96
13.62
15.89
20.91
13.42
15.89
20.98
13.67
15.91
20.89
13.38
15.91
20.89
13.62
16.01
20.98
13.45
16.00
21.01
13.71
16.00
21.01
13.52
15.97
20.95
13.58
15.95
21.00
13.71
15.92
12.02
13.49
15.93
20.97
13.89
16.05
20.97
13.95
16.05
21.02
14.20
16.10
21.14
294.05
173.48
301.16
171.60
296.24
171.73
298.00
172.15
299.90
172.46
298.90
171.19
300.11
171.59
301.51
172.00
299.95
171.01
301.86
171.61
303.62
172.32
303.26
171.62
303.45
170.86
306.77
171.96
'305.54
170.69
"305.20
"171.27
301.16
518.63
462.20
385.56
415.71
342.86
294.95
508.79
447.72
380.03
410.59
336.73
294.79
514.08
451.28
374.37
403.60
333.68
298.20
519.28
460.69
381.78
412.41
338.37
298.05
516.57
461.54
380.15
410.23
337.26
298.55
515.91
464.44
382.04
411.64
339.55
303.02
523.96
461.77
385.70
417.31
342.54
301.46
509.65
469.38
382.15
410.06
341.82
302.32
517.44
468.03
382.99
412.05
344.20
305.54
524.40
477.40
389.64
420.21
348.00
303.62
516.24
472.15
388.28
418.78
346.73
302.93
520.47
448.47
393.05
423.72
350.00
'308.17
'535.24
'458.30
404.35
'439.45
358.02
'304.15 "302.40
'542.46 "528.47
'458.42 "432.08
'393.98 "389.14
'425.18 "421.48
350.15 "346.14
r
"io.28
"9.87
"8.29
"7.35
"9.96
"11.91
"9.84
"10.54
Construction
do...
Durable goods
Nondurable goods
Transportation and public
utilities
Wholesale trade
Retail trade
....
Finance, insurance, and real
estate
do...
do...
294.05
503.58
456.92
373.63
403.24
331.45
do...
•• do...
do...
437.73
345.86
176.40
448.37
358.36
177.31
438.01
351.74
173.73
440.66
352.20
174.31
441.73
353.82
175.52
441.78
354.82
175.22
441.73
357.59
177.91
449.40
360.99
179.39
448.33
359.68
180.27
454.86
358.90
179.07
457.34
362.00
177.90
452.67
357.98
175.52
457.02
361.62
175.80
'460.52
366.99
180.00
'454.72 "458.63
'361.68 "360.19
174.53 "173.92
do...
278.13
250.59
288.65
260.76
282.83
254.80
286.47
256.56
286.47
256.56
285.74
257.21
284.23
257.68
291.77
261.03
285.68
260.17
286.77
260.50
292.29
263.71
290.40
263.71
291.41
264.87
298.74
'267.65
'297.11 "304.51
'267.16 "268.79
EMPLOYMENT COST INDEX @
Civilian workers t
6/81 — 100
Workers, by occupational group
Workers, by industry division
iNonmanuiac uring
oer ice .... ..........
HELP- WANTED ADVERTISING
Seasonally adjusted index
1967 — 100 .
See footnotes at end of tables.
131
139
140
141
125.5
126.4
128.4
129.2
127.3
122.2
127.8
128.3
123.1
128.0
130.7
124.4
130.9
131.6
124.9
131.8
123.9
126.2
131.9
130.1
124.6
127.2
132.6
130.3
125.5
129.7
136.4
134.2
126.0
130.6
137.1
134.8
141
132
132
14
14
134
136
140
144
145
143
142
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
S-13
SURVEY OF CURRENT BUSINESS
March 1986
Annual
,T -f
unus
1984
1986
1985
Jan.
1985
Feb.
Mar.
June
May
Apr.
July
Sept.
Aug.
Oct.
Nov.
Feb.
Jan.
Dec.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
WORK STOPPAGES
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....
UNEMPLOYMENT INSURANCE
Unemployment insurance programs:
Insured unemployment, all programs, average
weekly #@
thous
State programs (excluding extended duration
Erevisions):
litial claims .
thous
Insured unemployment, avg.
weekly
do
Percent of covered employment: @ @
Unadjusted
Seasonally adjusted
Beneficiaries average weekly
thous
Benefits paid @
mil $
Federal employees, insured unemployment,
average weekly
thous
Veterans' program (UCX):
Initial claims ..
do
Insured unemployment, avg.
weekly
do
Beneficiaries, average weekly
do
Benefits paid ..j
.
mil $
Railroad program:
Insured unemployment, avg.
weekly
Benefits paid
52
2
324
5,917
4
278
3361
62
2
r
376
8,499
r
2565
3
2
29
259
15
698
6
230
7
203
16
454
52
500
15
870
70
930
3339
3113
2766
2455
2337
2523
2361
2
9
6
11
4
3
2
4
75
143
26
688
8
662
8
170
2212
2149
2441
19632
2610
1662
1509
1633
1486
1418
1912
1454
1344
1758
1816
2480
3264
3239
3106
2680
2385
2274
2455
2292
2139
2072
2355
29
13400
3.7
29
2692
1505
3.6
30
2940
1450
3.4
29
2786
1442
3.0
29
2478
1,346
2.6
28
2176
1,223
2.5
28
2,068
1,008
2.7
28
2109
1,171
2.5
28
2034
1,094
2.3
28
1881
972
2.4
28
1762
968
2.7
29
1913
1,010
23
2 \&
do
mil. $..
4
4
24
27
26
24
20
17
17
19
18
18
21
158
14
12
12
11
10
10
12
13
13
15
13
21
19
135.1
24
22
13.9
22
21
11.7
21
20
11.2
19
17
10.5
17
16
10.2
16
15
8.6
17
15
9.6
17
15
9.4
18
15
9.0
21
19
11.7
22
19
11.8
22
21
27
100
13
4
3
3
3
12
31
8
28
148.0
33
19.1
34
15.4
32
15.0
25
12.7
18
8.1
15
6.0
19
6.7
20
8.3
FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers' acceptances
mil $
Commercial and financial company
paper, total
.. do ..
Financial 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. $..
Reserve bank credit outstanding total -fr
do
Time loans
.
do
U.S. Government securities.
do....
Gold certificate account
do....
Liabilities total #
do....
Deposits, total
do....
Member-bank reserve balances
do....
Federal Reserve notes in circulation
do....
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....
Large commercial banks reporting to Federal
Reserve System: $
Deposits:
Demand, total #
mil. $..
Individuals, partnerships, and
corporations^
do....
States and political subdivisions
do...
U S Government
. ...
do....
Depository institutions in U.S. $$
do....
Transaction balances other than demand
deposits *
do....
Nontransaction balances, total *
do....
Individuals, partnerships, and
corporations
..
do....
Loans and leases(adjusted) total §
do ...
Commercial and industrial
do ....
For purchasing and carrying
securities
do....
To nonbank depository and other
72 273
76,109
73,726
72,825
69,689
68,375
68,497
66,822
68,728
69,272
67,890
293,909
213 739
79596
134 143
80,170
241,813
171 335
59425
111 910
70,478
246,232
174 507
60476
114,031
71,725
247,603
176 812
60426
116,386
70,791
255,913
180 591
62,976
117,615
75,322
259,253
181 645
62,285
119,360
77,608
259,571
182,815
62,733
120,082
76,756
265,863
187 473
66,504
120,969
78,390
271,857
194,407
66,962
127,445
77,450
278,386
200,987
69,363
131,624
77,399
283,464
199,531
67,582
131,949
83,933
292,023
205,886
72,506
133,380
86,137
293,909
213,739
79,596
134,143
80,170
208,523
237,572
200,624
205,225
207,603
224,784
210,145
214,575
223,914
215,550
238,164
215,631
217,182
237,572
228,512
224,550
174 052
3,577
160,850
11,096
208,523
28,252
21,818
195,296
3,060
181,327
11,090
237,572
39,503
28,631
165 585
2,139
154,555
11,095
200,624
26,011
19,858
170,657
2,329
159,632
11,093
205,225
29,193
25,092
172 235
2582
160,983
11,093
207,603
30,660
26,997
184 595
1,525
173,913
11,091
224,820
41,939
21,962
173 557
1,765
164,245
11,091
210,145
26,163
23,468
179,013
1,338
169,110
11,090
214,575
31,155
27,236
176,348
1,567
167,095
11,090
223,914
37,383
26,253
180,252
2,068
170,109
11,090
215,550
29,933
25,665
180,518
2,520
169,702
11,090
238,164
54,806
27,162
178,153
886
168,705
11,090
215,631
29,287
27,119
179,906
1,602
169,168
11,090
217,182
27,062
23,830
195,296
3,060
181,327
11,090
237,572
39,503
28,631
189,332
827
178,992
11,090
228,512
40,441
23,480
185,172
661
176,536
11,090
224,550
35,063
29,324
168,327
181,450
162,125
162,992
163,728
165,331
169,056
170,178
171,286
172,712
171,476
173,590
177,504
181,450
174,453
175,072
'40,696
' 39,843
1
853
1
48,142
47,085
1
1,058
41,125
40,380
745
40,273
39,370
903
40,494
39,728
766
41,652
40,914
738
41,051
40,247
804
42,352
41,447
905
42,803
41,948
855
42,963
42,135
827
44,447
43,782
666
45,469
44,716
753
46,382
45,454
928
48,142
47,085
1,058
'48,060
r
46,949
1,111
46,641
45,550
1,092
1
3,186
— 2,220
1
1,318
'-204
1,395
-588
1,289
-315
1,593
-739
1,323
—450
1,334
-365
1,205
— 149
1,107
1,073
-85
-25
1,289
-420
1,187
-262
1,741
-706
1,318
-204
r
770
377
884
264
223,965
220,230
184,595
185,248
182,425
182,743
192,166
190,792
197,428
186,750
186,682
195,740
211,612
220,230
193,230
195,234
172,700
6,219
1,160
26,297
164,788
5,748
2,068
29,131
139,346
5,138
2,766
20,969
140,345
4,902
2,713
22,190
139,230
4,736
2,581
21,511
139,036
5,256
3,555
20,877
145,961
5,169
1,016
25,116
143,761
5,268
2,350
22,153
150,014
5,867
1,600
23,943
142,789
4,697
1,830
22,647
142,323
5,094
1,839
22,356
148,659
4,854
2,506
22,436
160,610
5,346
2,907
26,530
164,788
5,748
2,068
29,131
146,856
4,807
2,682
22,442
148,975
5,194
2,705
23,329
36,226
456,258
41,799
482,622
34,715
459,663
35,475
462,489
36,224
464,571
37,681
464,676
36,374
467,565
36,680
469,752
38,585
472,175
38,361
474,262
38,079
476,615
39,042
478,276
40,584
479,747
41,799
482,622
40,983
492,088
41,930
493,947
422,480
659,091
251,957
446,601
717,700
255,245
425,194
651,896
249,752
426,480
658,400
253,286
428,655
663,250
255,645
428,262
667,725
253,744
430,690
670,329
253,462
433,809
679,325
252,278
436,059
683,580
253,598
437,559
684,027
251,661
439,566
689,965
252,908
440,933
693,931
252,574
444,194
706,723
254,986
446,601
717,700
255,245
454,032
717,002
254,600
454,458
722,494
257,916
75470
231,760
166 776
57 191
109 585
64984
78003
50714
8,760
18,528
1
1
18,066
22,527
13,211
13,638
14,952
16,663
14,924
19,618
18,591
16,052
16,466
17,052
20,649
22,527
16,503
16,542
Real estate loans
do ...
To States and political subdivisions <)
do....
Other loans
• .do...
25,460
158,428
29,210
175,970
127,885
25,279
179,122
33,257
202,270
153,310
23,784
161,941
29,508
173,700
132,922
23,782
163,428
29,382
174,884
138,919
23,314
164,536
29,766
175,037
134,093
23,723
165,653
29,880
178,062
134,256
24,039
167,236
30,010
180,658
136,856
23,750
168,638
29,993
185,048
135,651
24,300
170,632
30,449
186,010
135,897
24,804
172,449
30,987
188,074
137,811
24,359
174,128
30,846
191,258
140,468
24,272
176,658
31,326
192,049
137,079
25,086
177,880
31,886
196,236
148,853
25,279
179,122
33,257
202,270
153,310
24,181
181,825
36,954
202,939
162,240
23,594
183,464
36,800
204,178
166,581
U.S. Treasury and Govt. agency securities,
total <*)
do...
Investment account ^
do ...
Other securities ^
do...
78,539
64,697
49,346
85,422
69,647
67,888
83,910
66,890
49,012
91,517
70,017
47,402
86,950
69,438
47,143
85,471
69,127
48,785
87,417
72,499
49,439
86,264
70,607
49,387
86,085
72,244
49,812
84,736
70,626
53,075
87,309
70,278
53,159
82,863
67,082
54,216
90,441
70,549
58,412
85,422
69,647
67,888
87,106
69,152
75,134
94,835
71,608
71,746
See footnotes at end of tables
S-14
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
SURVEY OF CURRENT BUSINESS
.,
units
Annual
March 1986
1986
1985
1T
1984
1985
Jan.
Mar.
Feb.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
1,802.7
267.1
144.5
1,391.0
1,819.0
271.6
145.4
1,402.1
1,828.8
271.4
148.2
1,409.2
1,841.3
273.1
151.3
1,416.9
1,844.4
270.0
154.8
1,419.7
1,869.6
275.0
160.7
1,433.9
1,895.5
270.7
174.5
1,450.3
1,919.6
264.6
189.6
1,465.5
Feb.
FINANCE—Continued
BANKING—Continued
Commercial bank credit, seas, adj.:
Total loans and securities <>
bil. $ ..
1,716.8
1,895.5
U.S. Treasury securities
do
260.3
270.7
Other securities
do
140.0
174.5
Total loans and leases <)
do . .
1,316.5
1,450.3
Money and interest rates:
Prime rate charged by banks on
short-term business loans
percent..
12.04
9.93
Discount rate (New York Federal
Reserve Bank) @@
do
8.80
7.69
Federal intermediate credit bank
loans
do
11.20
10.64
Home mortgage rates (conventional 1st
mortgages):
2
New home purchase (U.S. avg.)
percent..
11.88
2
Existing home purchasefU.S. avg.)
do....
12.00
Open market rates, New York City:
Bankers' acceptances, 90 days
do .
7.92
10.14
8.01
Commercial paper, 6-month t
do ....
10.16
Finance co. paper placed directly, 6-mo
do
7.75
9.65
Yield on U.S. Gov. securities (taxable):
3-month bills (rate on new issue).. .percent..
7.490
9.580
CONSUMER INSTALLMENT CREDIT
Not seasonally adjusted
Total outstanding (end of period) #
mil. $..
550,392
460,500
By major holder:
252,024
Commercial banks
do ....
212,391
Finance companies
do
96,747
120,842
78,870
Credit unions
do .
67,858
42,846
Retailers
do....
40,913
Savings and loans
do....
4-1,589
29,945
By major credit type:
210,390
Automobile
do
172,589
Revolving
do
101,555
123,432
26,442
Mobile home
do
24,556
Seasonally adjusted
Total outstanding (end of period) #
do....
By major holder:
Commercial banks
. ...
do
Finance companies
do
Credit unions
do ....
Retailers
do ....
Savings and loans
do
By major credit type:
Automobile
do
Revolving
.
do
Mobile home
do ....
Total net change (during period) #
do ....
By major holder:
Commercial banks
do
Finance companies
. . .do . ..
Credit unions
do ....
Retailers
do
Savings and loans
do
By major credit type:
Automobile
do ..
Revolving
do ....
Mobile home
do
FEDERAL GOVERNMENT FINANCE
Budget receipts and outlays:
1
Receipts (net) . . . .
mil $. '666,457
733,996
1
841,800 '936,809
Outlays (net)
..
.
do
Budget surplus or deficit ( )
do . .. '-175,342 -202,813
Budget financing, total
do.... 11 185,339 '211,931
170,817 '197,269
Borrowing from the public
do
1
14,522
'14,662
Reduction in cash balances
do....
1
Gross amount of debt outstanding
do . . . .1 1,576,748 '1,827,470
1,312,589 ' 1,509,857
Held by the public
do
Budget receipts by source and outlays by
agency:
1
Receipts (net), total
mil. $.. 1 666,457 '733,996
295,955 '330,918
Individual income taxes (net)
do
1
'61,331
56,893
Corporation income taxes (net) .
. do
Social insurance taxes and contributions
(net)
mil $ . '241,902 '268,805
'72,942
'71,706
Other
. ..
do....
1
841,800 '936,809
Outlays total #
do . .
'49,596
Agriculture Department
do.... n"37,426
220,838 '244,054
Defense Department military
do ....
Health and Human Services
rl
Department
mil. $.. n 292,313 '315,553
141, 105 '165,043
Treasury Department
do
National
Aeronautics
and
1
'7,318
Space Adm
do .... rl 7,048
25,593
'26,333
Veterans Administration
. do ....
GOLD AND SILVER:
Gold:
Monetary stock, U.S. (end of
11,090
11,096
period)
mil $
317.299
360.287
Price at New York £{:
dol. per troy oz..
Silver:
6.142
8.141
Price at New York $$
dol. per troy oz.
See footnotes at end of tables.
1,726.3
260.3
142.6
1,323.4
1,744.8
266.0
141.1
1,337.7
1,761.6
267.1
138.9
1,355.6
1,768.8
261.4
140.2
1,367.1
1,788.5
266.3
142.2
1,380.0
10.61
10.50
10.50
10.50
10.31
9.50
9.78
9.50
9.50
9.50
9.50
9.50
9.50
9.50
8.00
8.00
8.00
8.00
7.81
7.50
7.50
7.50
7.50
7.50
7.50
7.50
7.50
7.50
11.46
11.22
11.04
10.97
10.77
10.56
10.38
10.36
10.25
10.22
10.24
10.26
10.24
10.24
11.77
12.09
11.74
11.90
11.42
11.72
11.55
11.62
11.55
11.62
11.31
11.29
10.94
11.02
10.78
10.87
10.69
10.76
10.64
10.86
10.55
10.80
10.47
10.70
10.40
10.40
10.21
10.50
8.00
8.15
8.55
8.69
8.88
9.23
8.33
8.47
7.77
7.88
7.32
7.38
7.53
7.57
7.68
7.74
7.81
7.86
7.76
7.79
7.70
7.69
7.65
7.62
7.62
7.62
7.54
7.54
7.82
8.20
8.65
8.27
7.69
7.16
7.34
7.55
7.60
7.59
7.57
7.51
7.47
7.40
7.760
8.220
8.570
8.000
7.560
7.010
7.050
7.180
7.080
7.170
7.200
7.070
7.040
7.030
461,530
464,940
471,567
479,935
488,666
495,813
503,834
512,393
524,698
531,896
537,215 '550,392
550,699
213,951
96,732
68,538
38,978
30,520
215,778
97,360
70,251
37,483
31,405
219,970
99,133
70,432
37,082
32,349
223,850
101,324
71,418
37,091
33,514
226,973
104,130
72,381
37,472
34,754
229,676
105,971
73,468
37,548
35,901
232,913
107,985
74,614
37,399
37,301
236,390
110,378
75,689
37,481
38,496
241,030
116,422
76,447
37,421
39,421
243,573
118,846
77,474
37,784
40,281
245,987 '252,024
119,632 120,842
78,035 '78,870
42,846
38,905
40,728 '41,589
252,340
122,878
78,542
40,972
41,673
173,769
100,565
24,281
176,119
99,316
24,393
179,661
100,434
24,456
183,558
101,887
24,675
187,795
103,492
24,925
191,315
104,333
25,205
194,678
105,539
25,545
197,768
107,584
25,826
205,102
109,941
26,043
208,265
111,919
26,200
209,102 '210,390
114,927 123,432
26,243 '26,442
212,183
121,804
26,217
459,595
468,636
476,978
485,248
494,290
499,517
505,764
511,490
523,021
531,438
536,230 '541,848
548,724
212,504
97,456
68,710
37,398
30,685
217,575
98,659
70,133
37,667
31,682
222,422
100,707
70,930
37,758
32,397
226,275
102,592
72,145
37,926
33,460
230,383
104,965
72,818
38,267
34,787
232,073
106,183
73,615
38,236
36,204
233,897
107,812
74,764
38,348
37,542
235,661
110,183
75,243
38,249
38,511
239,409
116,590
75,617
38,222
39,435
242,272
119,730
77,088
38,319
40,055
245,416 '247,660
120,280 121,177
77,554 '78,399
38,564
38,926
40,390 '41,311
250,801
123,502
78,881
39,325
41,873
175,348
96,897
24,393
7,223
178,546
99,424
24,675
9,041
181,937
102,055
24,664
8,342
185,425
104,181
24,882
8,270
189,217
106,610
25,068
9,042
191,903
106,537
25,264
5,227
194,268
107,393
25,588
6,247
196,474
108,329
25,787
5,726
203,678
110,303
25,955
11,531
207,472
112,345
26,136
8,417
208,588 '209,883
114,960 116,628
26,137 '26,478
4,792
'5,618
212,975
118,392
26,443
6,876
3,799
901
1,290
251
922
5,071
1,203
1,423
269
997
4,847
2,048
797
91
715
3,853
1,885
1,215
168
1,063
4,108
2,373
673
341
1,327
1,690
1,218
797
-31
1,417
1,824
1,629
1,149
112
1,338
1,764
2,371
479
-99
969
3,748
6,407
374
-27
924
2,863
3,140
1,471
97
620
3,144
550
466
245
335
'2,244
897
'845
362
'921
3,141
2,325
482
399
562
2,887
1,957
159
3,198
2,527
282
3,391
2,631
-11
3,488
2,126
218
3,792
2,429
186
2,686
-73
196
2,365
856
324
2,206
936
199
7,204
1,974
168
3,794
2,042
181
1,116
2,615
1
1,295
1,668
'341
3,092
1,764
-35
73,808
57,881
39,794
72,151 33 57,970 55,776
94,593
73,191
83,621
85,074
78,012
71,506
82,228
80,245
617 -27,193
645 -20,042 -27,845
12,365 -40,450
27,087
1,369
21,532
27,597
764
41,997
-11,386
11,390
23,921
16,157
5,975
16,333
11,857
17,036
15,697
25,664 -10,488 -2,389
11,440 -5,211
-28,422
1,836,210
1,805,324
1,822,387
1,827,470
1,758,330
1,779,026
1,737,119
1,435,615 1,451,948 1,463,804 1,487,725 1,503,882 1,509,857 1,521,247
51,163
84,763
-33,601
33,386
45,863
-12,477
1,904,542
1,567,110
49,606
70,454 '54,048
78,067
'76,817 r r74,876
- 6,364 - 20,827 -28,461
r
29,504
7,993 21,053
15,994
13,159
12,675
16,345
'5,059
-4,682
1,684,364 1,702,793 1,715,148
1,389,426 1,405,420 1,418,578
r
70,453
37,852
2,779
r
54,049
23,769
1,753
49,606
15,254
8,417
94,593
51,602
8,855
39,794
3,611
1,230
72,151
34,764
10,788
68,193
76,710
53,370
84,079
82,849
78,290
-15,886 -6,140 -24,920
14,656
6,492
24,580
33,261
12,660
16,010
-18,605 -6,168
8,570
1,950,293 1,966,846 1,983,428
1,600,371 1,613,032 1,629,042
57,970
26,252
1,892
55,776
25,770
1,078
73,808
34,643
10,950
57,881
29,730
1,181
51,163
23,399
1,390
68,193
30,193
12,287
76,710
40,150
2,825
53,370
25,370
620
22,853
6,974
78,012
3,822
21,478
22,943
5,985
83,621
3,872
22,580
21,977
6,237
73,191
3,113
21,018
20,431
6,540
85,074
5,368
21,284
20,151
6,222
84,763
6,115
21,388
19,662
6,050
84,079
6,265
23,206
26,983
6,752
82,849
5,543
20,253
22,046
5,335
78,290
4,021
20,615
23,394
6,428
76,817
5,569
18,914
r
23,080
'5,446
74,876
-3,984
19,215
20,551
5,385
78,067
3,874
21,039
28,032
6,103
82,228
5,159
19,597
28,423
6,530
80,245
3,222
21,491
21,049
5,549
71,506
3,053
20,247
25,748
11,973
'25,661
r
!2,497
25,805
11,376
26,671
13,000
27,445
13,015
27,362
22,318
27,104
11,942
27,112
12,997
25,091
10,491
27,278
11,484
27,173
13,897
26,628
23,766
28,086
14,029
27,282
13,600
548
926
-616
'2,213
642
2,291
608
2,290
606
3,202
537
904
571
2,320
553
3,408
593
939
889
2,126
603
3,296
749
2,407
572
2,070
687
2,321
11,095
302.791
11,093
298.816
11,093
303.943
11,091
324.902
11,091
316.073
11,090
316.490
11,090
317.802
11,090
330.234
11,090
322.624
11,090
11,090
325.466
11,090
322.420
11,090
345.491
11,090
339.332
6.098
6.069
6.458
6.280
6.104
6.247
6.054
6.188
6.134
5.888
6.053
5.874
6.014
6.172
5
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
S-15
SURVEY OF CURRENT BUSINESS
March 1986
.,
urms
Annual
1986
1985
IT
1984
1985
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FINANCE—Continued
MONETARY STATISTICS
Currency in circulation (end of period)
bil. $..
197.5
183.8
Money stock measures and components (averages
of daily figures): t
Measures (not seasonally adjusted): $
Ml
,
bil $
593.9
558.7
568.4
'544.5
M2
do
'2,277.7 2,484.2 2,407.3 2,415.3
M3
do
3,105.0 3,019.9 3,026.4
'2,847.8
L (M3 plus other liquid assets)
do.... r3,365.5 3,684.2 '3,562.8 3,581.9
Components (not seasonally adjusted):
Currency.
do
158.3
165.0
158.5
154.3
Demand deposits
do
254.8
259.4
244.6
'245.9
Other checkable deposits $$
do....
150.5
150.6
139.2
163.8
Overnight RP's and Eurodollars 6
do
'60.4
63.0
'56.7
'64.6
General purpose and broker/dealer
money market funds
do
171.9
175.7
175.1
150.4
450.5
Money market deposit accounts
do
435.7
480.1
'396.8
Savings deposits
do
288.4
288.2
295.8
'297.5
885.8
Small time deposits @
do
890.3
883.7
'838.9
417.3
415.7
Large time deposits @
do....
424.6
'378.8
Measures (seasonally adjusted): $
569.3
562.9
Ml
.
..
do
'2,399.9 2,421.8
M2
do....
'3,013.5 '3,033.8
M3
do
3,557.6 3,588.8
L (M3 plus other liquid assets)
do
Components (seasonally adjusted):
159.6
160.7
Currency
do..
249.0
251.2
Demand deposits
do....
152.2
Other checkable deposits t^
do
149.0
289.4
289.9
Savings deposits
do
887.4
885.2
Small time deposits @
..
do
Large time deposits @
do
415.6
416.9
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Bureau of the Census):
Net profit after taxes, all industries
mil $
107,648
Food and kindred products
do
9,760
1,635
Textile mill products
do
Paper and allied products
do
3015
13,883
Petroleum and coal products
do....
17,154
1,870
Stone, clay, and glass products
do....
84
Primary nonferrous metal
do
Primary iron and steel
do
379
Fabricated metal products (except ordnance,
machinery, and transportion
equipment)
mil $
4,646
Machinery (except electrical)
do....
11,963
Electrical machinery, equipment,
8616
Transportation equipment (except motor
4,117
vehicles etc )
mil $
Motor vehicles and equipment
do....
10,575
All other manufacturing in20,877
dustries
do....
Dividends paid (cash), all indus45102
tries
do
SECURITIES ISSUED
Securities and Exchange Commission:
1
7,402
6,605
89,066 130,809
By type of security:
1
4,382
3,310
59,613 85,643
Bonds and notes corporate
do
1
2,302
3,077
35,176
Common stock
do
22,049
170
6,149
218
'4,215
By type of issuer:
1
6,854
126,968
6,605
85,878
Corporate total $
mil $
1,760
25,442
1,248
Manufacturing
do
'14,442
1
4,374
71
623
Extractive (mining)
do....
5,513
1
9,914
420
362
7,517
Public utility
.. . do.
1
182
4,036
175
1,639
1
3,854
644
141
2,162
Communication
.do. ..
65,004
3,699
2,802
Financial and real estate
do.... '45,119
State and municipal issues (Bond Buyer):
5,459
7,378
Long-term
•
• .do.... 101,882 161,520
18,860
707
568
31,068
Short-term
do
SECURITY MARKETS
Stock Market Customer Financing
Margin credit at brokers, end of year
28,390
22,090
22,970
22,470
or month
mil. $..
Free credit balances at brokers:
6,680
7,120
6,770
7,015
Margin accounts
do....
9,840
12,840
9,725
10,215
Bonds
Prices:
Standard & Poor's Corporation:
High grade corporate:
Comoosite §
dol per $100 bond
(2)
50.3
53.0
50.9
47.9
Domestic municipal (15 bonds)
do....
Sales:
New York Stock Exchange, exclusive of some
813.58
689.39
stopped sales, face value, total
...mil. $. 6,982.29 9,046.45
See footnotes at end of tables.
1859
1792
197.5
1873
'639.8
'612.1
'621.6
581.7
592.7
599.6
602.0
609.1
565.0
576.5
2,430.9 2,443.1 2,444.1 2,480.7 2,501.0 '2,510.9 '2,521.0 '2,533.7 '2,548.9 '2,573.5
3,046.9 '3,058.1 '3,063.9 '3,098.0 '3,110.8 '3,128.4 '3,146.8 '3,163.6 '3,185.0 '3,212.8
3,616.1 '3,626.1 '3,624.8 '3,664.9 '3,683.2 '3,710.6 '3,737.9 '3,760.4 '3,802.2 3,840.1
159.8
245.9
154.2
161.1
254.6
160.8
163.1
251.0
157.0
165.1
259.4
162.2
166.8
261.8
164.5
167.7
260.4
167.3
167.6
265.0
170.3
168.4
'265.6
172.2
170.7
'269.0
'176.3
'173.1
'281.3
'180.0
'633.4
'2,578.0
'3,231.1
619.0
2,570.2
3,231.8
170.5
'275.1
'182.3
170.6
262.0
180.9
63.3
57.8
61.3
60.8
60.7
'63.6
'64.1
'64.6
'65.7
'69.2
'68.1
68.4
177.6
460.2
289.8
882.4
421.5
176.2
462.5
290.6
881.8
421.9
172.2
466.4
292.2
883.5
423.6
175.4
478.1
295.4
886.3
420.4
175.8
487.2
298.9
887.1
416.1
176.8
495.2
298.9
882.5
'422.5
176.7
499.8
299.1
880.5
'429.4
177.0
504.2
'302.9
'881.3
'433.0
'176.8
509.6
'303.3
'880.6
'435.3
'176.5
512.1
301.8
'882.5
'438.7
'177.8
515.8
302.7
'889.2
'447.6
180.9
516.5
302.7
891.2
450.5
590.9
596.2
614.1
'620.0
'626.5
572.2
575.7
582.5
604.8
'611.5
2,429.4 2,434.4 '2,451.9 2,479.0 '2,496.1 '2,515.4 '2,529.5 '2,538.3 '2,550.6 '2,565.4
3,046.6 '3,052.0 '3,069.9 '3,098.0 '3,113.3 '3,132.5 '3,153.3 '3,166.6 '3,181.5 '3,200.1
3,612.7 '3,618.5 '3,636.5 '3,664.7 '3,683.3 '3,711.9 '3,741.6 '3,762.0 '3,800.0 3,835.4
'627.1
'2,569.2
'3,223.4
630.9
2,577.0
3,239.8
'171.9
'268.9
'180.4
304.0
'886.1
'448.0
172.9
269.1
183.0
304.9
890.5
450.6
161.3
251.4
154.1
289.7
885.0
421.0
161.9
251.8
156.5
289.0
887.6
425.9
163.2
255.4
158.4
290.8
889.5
425.0
164.4
259.0
161.8
293.6
890.3
422.7
165.3
260.4
164.8
296.7
888.0
418.3
166.9
263.1
169.0
299.7
880.9
'422.1
167.7
266.4
171.5
300.3
878.3
'427.4
22,587
1,942
191
718
3 179
4,195
113
12
277
23,678
2,366
254
874
3,479
1,945
588
-218
-395
21,552
2658
267
601
2,350
3,555
511
-312
255
899
1,822
1,021
2,592
855
2,213
1 899
1 694
1,347
1032
2,202
1 132
2,873
640
1,343
4,660
5,473
5,779
10987
10,906
12,009
168.7
'266.0
173.6
302.3
'875.7
'430.2
169.8
'267.8
176.6
303.7
'876.0
'432.9
170.6
'271.5
'178.5
'303.6
'880.3
'436.4
7,638
9,563
10,633
11,410
13,057
12,770
9,703
'10,222
'13,191
18,560
4,061
2,917
461
6,440
2,587
387
5,799
3,072
609
7,139
3,534
737
7,682
3,848
631
8,508
3,508
754
6,146
2,904
653
'7,137
'2,416
371
'10,098
'1,861
782
14,933
3,103
375
7,439 / 9,414
851
752
16
717
696
942
162
782
15
55
4,171
4,603
9,480
1,961
168
1,320
333
270
4,452
11,410
2,943
655
504
616
250
4,797
12,161
3,441
79
486
0
99
5,983
12,770
3,060
839
904
610
216
5,798
9,703
1,689
277
966
257
372
5,686
'9,924
1,464
'65
'1,173
447
328
'4,998
'12,741
'3,220
541
'1,308
146
885
'5,777
18,411
3,033
342
831
325
580
12,195
8,900
625
10,582
4,685
12,691
751
10,921
2,805
12,304
5,054
12,732
615
11,055
1,437
18,871
942
23,423
316
27,204
355
23,230
23,900
24,300
25,260
25,220
25,780
25,330
26,350
26,400
28,390
6,780
10,160
6,910
9,230
6,865
9,230
7,300
10,115
7,000
9,700
6,455
9,440
6,225
10,080
6,125
9,630
6,490
10,340
7,120
12,840
49.6
51.3
53.6
55.3
54.6
52.9
52.6
56.2
57.0
640.78
700.85
876.17
864.36
844.56
713.33
51.9
551.78
747.23
767.98
836.45
26,810
60.0
907.61
64.5
993.95
S-16
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
SURVEY OF CURRENT BUSINESS
IT
Annual
..
1984
March 1986
1986
1985
Jan.
1985
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FINANCE—Continued
Bonds— Continued
Yields:
Domestic corporate (Moody's)
percent..
By rating:
Aaa
do
Aa
do
A
do
Baa ...
do
By group:
Industrials
do
Public utilities
.
do
Railroads
do .
Domestic municipal:
Bond Buyer (20 bonds)
do....
Standard & Poor's Corp. (15
bonds)
do
U.S. Treasury bonds, taxable £
do....
Stocks
Prices:
Dow Jones averages (65 stocks)
Industrial (30 stocks)
Public utility (15 stocks)
Transportation (20 stocks)
Standard & Poor's Corporation: §
Combined index (500 Stocks)
1941-43 = IDIndustrial, total (400 Stocks) #
do....
Capital goods (105 Stocks)
do ....
Consumer goods (191 Stocks)
do....
Utilities (40 Stocks)
do ....
Transportation (20 Stocks)
1982=100...
Railroads (6 Stocks)
1941-43 — 10..
Financial (40 Stocks)
1970—10..
New York City banks (6 Stocks)
1941-43 = 10...
Banks outside NYC (10 Stocks)
do ....
Property-Casualty
Insurance (5 Stocks)
.
do
N.Y. 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):
Market value
mil $
Shares sold
.
millions
On New York Stock Exchange:
Market value
mil $
Shares sold (cleared or settled)
millions..
New York Stock Exchange:
Exclusive of odd-lot and stopped stock
sales (sales effected)
millionsShares listed, NYSE, end of period:
Market value, all listed shares
bil. $ ..
Number of shares listed
millions..
1
13.49
12.05
12.64
12.66
13.13
12.89
12.47
11.70
11.69
11.76
11.75
11.69
11.29
10.89
10.75
10.40
1
12 71
1331
1374
14 19
11 37
1182
1228
1272
1208
1243
1280
13 26
1213
1249
1280
13 23
12 56
1291
1336
13 69
12 23
1269
1314
13 51
11 72
1230
1270
13 15
10 94
11 46
1198
1240
10 97
11 42
11 92
1243
11 05
1147
1200
12 50
11 07
11 46
1199
1248
11 02
11 45
11 94
1236
10 55
1107
1154
11 99
10/16
1063
11 19
11 58
10 05
1046
1104
11 44
967
10 13
1067
11 11
1321
'1403
1307
1180
1229
1194
1241
1288
1262
1232
1300
1238
1260
1366
1257
1237
1342
1260
1204
1289
1239
11 48
11 91
1181
11 49
1188
11 63
11 57
11 93
11 56
11 55
1195
11 63
11 53
1184
11 54
1123
1133
1135
1096
1082
11 18
1083
1066
1086
1063
1016
1058
10.12
9.07
9.37
9.71
9.75
9.37
8.81
8.80
9.01
9.09
9.33
8.76
8.51
8.33
7.86
6.98
10 15
11.99
9 18
10.75
9 55
11.15
9 66
11.35
979
11.78
948
11.42
9 08
10.96
878
10.36
890
10.51
9 18
10.59
9 37
10.67
9 24
10.56
864
10.08
8 51
9.60
8 06
9.51
7 44
9.07
463 10
1 178 48
13177
513.85
54156
50153 52280
1 328 23 1 238 16 1 283 23
157.58
14789 149.78
645.11
584.95 626.64
61475 65983
51475 51303 52356 54253 55759 54977 541 18 54798 57756 60650
1 268 83 1 266 36 1 279 40 1 314 00 1 343 17 1 326 18 1 317 95 1 351 58 1 432 88 1 517 02 1 534 86 1 652 73
173 44
18093
15730
15454
15585 16398 169.56
14897 154.96 15992 16429 16387
715.74 774.86
608.40 590.59 61186 648.66 68575 683.94 660.91 65277 67968 707.14
160.46
181.26
171.84
150.87
67.98
136.77
101.40
16.99
186.84
207.79
188.75
184.52
82.97
166.62
123.17
22.04
171.61
191.64
180.57
163.71
75.83
150.95
111.65
19.49
180.88
202.13
192.22
171.99
78.14
160.52
120.18
21.09
179.42
200.42
184.17
174.01
78.89
154.61
114.15
20.61
180.62
201.13
182.94
177.40
81.25
152.12
113.56
21.00
184.90
204.83
184.43
178.55
83.60
159.45
117.19
22.49
188.89
208.50
183.59
188.71
86.90
167.10
121.48
23.04
192.54
212.90
190.61
190.30
87.22
177.97
130.00
23.19
188.31
209.40
189.60
185.93
83.21
174.45
125.85
22.07
184.06
205.15
184.53
182.75
81.46
168.07
123.58
2106
186.18
207.65
184.97
187.49
81.49
168.89
12658
2160
197.45
219.44
196.54
200.75
86.80
177.68
13346
23.79
207.26
230.29
210.81
212.60
90.83
187.65
140.41
25.10
208.19
230.37
211.67
211.38
92.06
191.27
14249
25.87
219.37
241.91
223.60
226.76
97.51
206.37
150.10
27,76
63.82
95.21
85.44
101.62
76.05
98.85
83.13
104.71
79.70
101.00
83.55
101.61
87.14
107.04
89.24
107.43
90.93
106.55
85.57
100.10
79.73
94.28
82.48
93.89
89.85
99.55
97.89
104.47
100.70
103.95
100.33
106.60
18126
24647
201.81
226.67
222.55
230.30
25456
259.92
257 13
25040
24324
24947
27801
28354
29456
31473
9246
10801
8563
46.44
89.28
10809
12378
104 10
56.74
114.21
99 11
11399
94.88
51,95
101.34
10473
120.71
101.76
53.44
109.58
10392
11964
9830
53.91
107.59
10466
11993
96.47
55.51
109.39
10700
12188
99.66
57.32
115.31
10952
124.11
105.79
59.61
118.47
11164
12694
111.67
59.68
119.85
10909
12492
109.92
56.99
114.68
10662
12235
10496
55.93
110.21
10757
12365
10372
55.84
112.36
11393
13053
10861
59.07
122.83
119 33
13677
113.52
61.69
128.86
120 16
137 13
11572
62.46
132.36
12643
14403
12418
65.18
142.13
464
4.05
9.48
3.22
535
11.62
425
376
812
2.86
421
10.44
451
399
8.60
3.06
469
11.13
430
3.80
8.35
2.92
432
10.88
437
3.87
8.37
3.06
447
10.97
437
387
8.31
3.09
441
10.75
431
384
8.14
3.02
4 15
10.60
421
375
7.84
2.85
404
10.05
4 14
367
7.84
2.67
402
9.92
4.23
3.73
8.18
2.74
423
10.15
432
3.82
8.17
2.84
444
10.26
428
3.77
8.32
2.81
432
10.35
406
3.59
7.84
2.65
384
10.12
3.88
3.44
7.45
2.55
3.63
10.05
390
3.47
7.42
2.52
354
9.85
9.62
959 235 1 199 786
30456
37046
91876 103 355
3266
3005
101 193
3 116
84947
2610
104 175
3205
97060
2875
106 150
3208
85501
2,782
78,885
2,476
822 714 1 020 492
2,879
2,899
r
25,150
23,071
1,586.10
49,092
104 281 108 181 131 603
3,327
4,002
3,160
92541 111 931
77 145
88232
85371
72354
89 154
83238
91 129
72476
67396
89524
30,198
2,432
2666
2497
2094
2,641
2,373
2,653
2,249
2,030
2,580
2,743
3,240
27,511
2,674
2,194
2,154
1,982
2,350
2,117
2,463
1,924
1,860
2,543
2,445
2,802
1,950.33 1,705.61 1,721.93 1,716.16 1,709.41 1,804.24 1,812.38 1,800.46 1,778.90 1,702.80 1,774.44 1,874.53 1,950.33 1,959.17 2,094.86
52,754 52,734
49,360 49,485 49,756 49,921 50,128 50,971 51,361 51,493 51,605 52,105 52,175 52,427
52,427
FOREIGN TRADE OF THE UNITED STATES
VALUE OF EXPORTS
Exports (mdse.), incl. reexports,
total @
Excl Dept of Defense shipments
Seasonally adjusted
By geographic regions:
Africa
Asia
...
Australia and Oceania
Europe
Northern North America
Southern North America
South America
By leading countries:
Africa:
Egypt
Republic of South Africa
Asia; Australia and Oceania:
Australia, including New
Guinea
"
See footnotes at end of tables.
mil $ . 217,888.1 213,146.1 18,672.9 17,143.3 20,330.0 17,972.6 18,337.2 18,012.0 16,726.5 16,584.3 17,034.2 17,618.3 17,720.5 16,994.3 17,006.2
217 865 2 213 133 0 18 672 3 17 141 8 20,328 4 17,970 0 18,336.5 18 010.1 16 725 3 16,583.7 17,033.2 17,617.8 17,720.2 16,993.8 17,005.9
do
19,401.3 17,853.3 18,446.4 17,778.9 17,414.3 17,437.8 17,411.5 17,423.2 17,732.2 17,368.1 17,975.5 17,023.9
do
(2)
do
. . .do ....
do....
do
do ....
do
do
8,826 6
64,532.6
5,744.5
62,207.1
46,526.2
18 632 6
11 049 8
73881
60,745.3
6,399.1
59,978.0
47,257.6
19 991 2
11 022 3
617.4
5,687.4
702.6
5,346.9
3,779.7
16705
850.5
699.3
4,737.2
432.6
5,149.6
3,706.7
15920
824.9
776.3
5,991.3
508.6
6,100.6
4,246.2
1,764.9
941.6
634.5
4,829.0
516.8
5,128.9
4,172.0
1,787.1
865.0
754.8
5,088.0
506.5
5,169.2
4,467.9
1,398.8
914.6
662.2
5,043.4
413.0
4,559.2
4,573.9
1,859.9
877.9
576.1
5,150.9
689.8
4,234.5
3,721.2
1,353 8
985.8
525.9
4,664.2
517.8
4,501.7
3,502.1
1,909.2
864.0
533.5
4,889.0
606.6
4,437.4
4,031.0
1,541.7
930.9
528.8
4,655.0
479.3
5,198.4
4,085.6
17478
901.0
544.3
4,889.8
535.5
5,259.1
3,695.9
1,839 7
922.9
535.0
5,120.2
490.1
4,892.7
3,275.2
1,525.9
1,143.4
472.4
4,742.9
474.4
4,975.2
3,999.3
1,517 1
8249
do ...
..do ....
2,704.2
2,265.2
2,322.8
1,205.0
170.2
147.3
278.5
93.5
237.8
141.2
194.2
91.9
249.5
105.6
184.3
95.8
181.1
93.9
101.2
93.2
142.4
94.8
202.5
89.9
205.6
84.2
175.3
73.7
139.1
77.0
do ....
4,845.8
23 575 0
5,481.1
22,630.8
598.8
2,100.0
364.7
1,823.6
433.9
2,328.7
446.5
1,732.7
442.6
1,814.5
353.9
1,750.6
602.0
1,845.2
440.1
1,742.9
487.2
1,925.7
407.1
1,834.1
470.3
1,972.1
433.9
1,760.8
371.1
1,762 5
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
S-17
SURVEY OF CURRENT BUSINESS
March 1986
,, ..
LI mis
Annual
1984
1986
1985
1985
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF EXPORTS— Continued
Exports (mdse.), incl. reexports— Continued
Europe:
France
mil $
6,036.7
German Democratic Republic
do
136.9
Federal Republic of Germany
do....
9,083.6
Italy
do
4,374.9
Union of Soviet Socialist Republics
do
3,283.9
United Kingdom
do
12,209.7
North and South America:
Canada
do
46,524.3
Latin American Republics,
total #
do
26,301.7
Brazil
do
2,639.7
Mexico
do
11,992.1
Venezuela
do
3,377.2
Exports of U.S. merchandise, total §
...do.... 212,057.1
Excluding military grant-aid
do .... 212,034.2
Agricultural products total
do
37,813.9
Nonagricultural products, total
do . . . . 174,243.2
By commodity groups and principal
commodities:
Food and live animals #
mil $
24,462.6
Beverages and tobacco
do
2,849.4
Crude materials, inedible, exc.
fuels $
.
do
20,248.9
Mineral fuels, lubricants, etc. #
do....
9,310.5
Oils and fats, animal and vegetable
do
1,922.2
Chemicals
. .
do
22,336.3
Manufactured goods #
do
15,139.9
Machinery and transport equipment,
total
.
mil $
89,972.7
60,317.5
Machinery, total # ..
. .
do
Transport equipment, total
.....do.... 29,655.2
Motor vehicles and parts
do
17,547.9
VALUE OF IMPORTS
General imports total
do
325,725.7
Seasonally adjusted
do ....
By geographic regions:
14,354.9
Africa
.
do
120,132.2
Asia
do.
Australia and Oceania
do....
3,558.0
Europe
do
73,306.7
Northern North America
do
66,496.3
26,833.7
Southern North America
do
South America
do
21,043.0
By leading countries:
Africa:
Egypt
do
169.5
Republic of South Africa
do ....
2,487.7
Asia; Australia and Oceania:
Australia, including New
2,702.8
Guinea
mil. $..
57,135.0
Japan
do
Europe:
8,113.0
France
do....
German Democratic Republic
do
148.9
Federal Republic of Germany
do.... 16,995.9
Italy
do....
7,934.5
Union of Soviet Socialist Re554.2
publics
do ..
United Kingdom
do.... 14,491.6
North and South America:
66,478.1
Canada
do
Latin American Republics,
total #
do.... 42,340.6
7,621.0
Brazil
do
18,020.0
Mexico
.
....
do
6,542.8
Venezuela
do
By commodity groups and principal
commodities:
Agricultural products, total
mil. $.. 19,765.5
Nonagricultural products, total
do .... 305,960.3
Food and live animals #
do.... 17,972.8
3,653.4
Beverages and tobacco
do....
Crude materials, inedible, exc.
fuels #
do.... 11,081.7
Mineral fuels, lubricants, etc
do .... 60,979.8
Petroleum and products
do .... 55,906.1
Oils and fats, animal and vege696.0
table
•
do ...
Chemicals
do .... 13,697.4
Manufactured goods $
do.... 46,144.7
Machinery
and
transport
119,191.7
Machinery, total' #
..do.... 68,389.9
50,801.8
Transport equipment
do
Motor vehicles and parts
..do.... 45,412.2
See footnotes at end of tables.
151-498 O - 86 - S2
6,095.7
72.3
9,050.0
4,625.2
548.9
14.9
792.6
393.5
483.2
12.8
777.8
381.3
611.3
1.1
923.1
440.2
487.7
.9
758.7
487.2
566.3
3.1
767.5
476.9
465.3
.5
743.2
351.3
407.1
4.0
638.1
354.7
462.5
.3
692.5
308.4
471.9
1.4
651.4
315.8
532.8
1.2
834.4
356.2
550.5
19.5
790.8
371.6
508.1
12.8
680.1
388.1
548.2
6.0
768.4
390.2
2,422.8
11,272.9
348.6
1,032.4
315.0
974.6
324.2
1,410.2
308.9
963.9
295.7
935.2
77.8
854.9
43.8
831.4
67.3
784.4
50.3
842.8
96.0
925.9
292.1
896.5
203.1
820.6
139.2
836.2
47,251.1
3,779.6
3,706.6
4,246.2
4,171.7
4,467.5
4,570.5
3,720.9
3,502.0
4,030.0
4,085.3
3,695.7
3,275.0
3,999.1
27,849.8 2,241.6 2,183.3 2,447.0 2,403.1 2,053.6 2,513.6 2,045.8 2,535.8 2,255.1 2,374.9 2,405.8 2,390.3 2,083.9
452.4
274.2
277.4
259.6
237.4
243.4
223.4
246.8
234.5
259.7
268.4
3,139.6
225.8
210.8
1,023.2
1,135.4 1,117.1 1,260.9 1,236.7
863.3 1,377.3
13,634.7
820.3 1,405.7 1,015.7 1,170.8 1,214.1 1,017.4
219.3
275.3
321.0
3,399.4
244.4
257.7
250.2
340.3
278.8
334.7
271.5
253.8
255.6
316.1
206,925.3 18,123.6 16,647.6 19,765.0 17,491.5 17,816.0 17,432.6 16,172.2 16,106.1 16,543.0 17,122.3 17,226.8 16,478.7 16,501.2
16,478.2
16,500.9
206,912.2 18,123.0 16,646.1 19,763.4 17,488.9 17,815.3 17,430.7 16,171.0 16,105.5 16,542.0 17,121.8 17,226.5
29,241.5 3,142.3 2,990.1 2,801.0 2,702.8 2,110.5 2,054.2 1,801.6 1,982.8 1,884.9 2,343.5 2,786.0 2,642.2 2,535.8
177,683.8 14,981.3 13,657.5 16,964.0 14,788.7 15,705.5 15,378.4 14,370.5 14,123.3 14,658.1 14,778.8 14,440.8 13,836.5 13,965.4
19,267.9
2,958.2
1,937.2
223.8
1,732.0
263.2
1,694.8
278.6
1,665.3
247.2
1,455.0
147.5
1,489.1
124.9
1,445.4
159.0
1,491.0
291.6
1,465.7
243.3
1,601.5
234.7
1,747.8
380.0
1,543.1
364.3
1,629.6
166.9
16,939.5
9,970.9
1,729.0
804.3
1,634.5
785.5
1,676.2
753.9
1,594.5
738.4
1,317.2
837.2
1,284.4
707.8
1,141.3
759.9
1,225.4
933.6
1,148.0
868.1
1,268.0
902.9
1,457.1
991.1
1,463.8
888.4
1,557.1
812.1
1,434 0
21,758.7
14,008.9
137.5
1,937.1
1,216.0
160.4
1,817.8
1,102.3
131.4
1,958.1
1,289.3
107.6
1,767.6
1,239.3
106.4
1,882.6
1,227.1
129.7
1,777.4
1,279.8
131.3
1,780.6
1,119.0
99.2
1,859.6
1,174.0
99.2
1,857.6
1,105.3
113.7
1,835.0
1,166.4
110.5
1,642.5
1,095.5
107.1
1,642.7
994.9
97.4
1,719.2
1,122.9
94,278.4
59,488.2
34,790.2
19,364.0
7,986.6
5,191.8
2,794.8
1,543.3
7,126.9
4,581.9
2,545.0
1,548.2
9,468.7
5,877.3
3,591.4
1,768.5
7,964.5
4,954.9
3,009.6
1,776.2
8,555.4
5,344.5
3,210.9
1,819.9
8,357.6
5,234.0
3,123.6
1,841.1
7,414.8
4,665.5
2,749.4
1,419.8
6,980.7
4,696.7
2,284.0
1,338.7
7,535.3
4,707.5
2,827.8
1,670.8
7,796.3
4,953.8
2,842.6
1,664.8
7,694.1
4,750.4
2,943.7
1,680.2
7,397.4
4,529.9
2,867.5
1,292.6
7,269.4
4,681.7
2,587.6
1,601.5
345,275.5 28,835.8 25,941.2 28,724.7 28,571.7 29,302.1 30,135.5 27,000.3 26,247.3 31,349.1 28,429.4 30,010.4 30,728.0 32,005.2
28,296.9 27,984.7 28,129.2 28,295.3 28,684.8 29,424.8 26,630.2 26,083.3 31,764.2 27,594.0 30,285.1 32,887.6
C1)
831.4
11,964.3
131,884.2 11,359.2
3,819.3
357.9
81,692.1 7,002.0
69,014.4 5,319.8
25,969.5 2,075.8
20,931.6 1,889.7
646^7 1,209.2 1,208.1 1,159.3
1,231.1
889.3
912.7
983.9 1,031.8
968.9
890.1 1,233.0
9,656.8 10,935.2 10,660.4 10,948.3 11,091.8 10,558.7 10,469.6 12,635.2 10,478.2 11,622.4 11,468.3 13,158.7
286.5
326.3
317.7
235.5
314.0
324.3
451.0
299.2
288.0
344.8
313.5
278.1
5,736.8 6,754.5 6,445.3 7,236.2 7,315.2 6,274.0 6,130.4 7,112.2 6,728.9 7,326.6 7,629.7 7,558.6
5,548.9 6,075.6 5,977.5 6,042.4 6,292.4 5,074.1 4,815.7 6,153.9 6,078.0 5,696.0 5,940.2 5,681.1
2,212.3 2,266.8 2,462.1 1,868.1 2,313.4 2,231.9 1,952.3 2,036.5 2,022.6 2,166.2 2,361.1 2,136.8
1,661.6 1,759.3 1,490.9 1,685.0 1,639.1 1,497.8 1,581.8 2,080.2 1,864.7 2,030.9 1,750.9 1,921.1
79.2
2,070.8
6.7
140.2
5.0
221.5
2.9
153.5
4.0
187.4
14.1
152.6
31.0
160.3
2.4
182.9
2.0
166.5
2.5
211.7
2.6
147.1
3.0
176.9
2.9
170.3
3.2
236.3
2,870.4
68,782.9
291.7
5,968.8
168.8
4,799.8
210.2
5,724.9
223.7
5,931.0
223.8
5,719.2
249.5
5,824.1
364.7
5,418.3
220.2
5,444.2
209.9
6,451.5
219.8
5,236.9
220.1
6,042.6
268.1
6,221.6
240.4
6,901.6
9,481.9
91.5
20,239.2
9,673.7
909.2
13.9
1,836.8
759.7
555.9
13.3
1,426.5
678.6
762.0
10.1
1,774.6
836.1
745.2
11.6
1,690.0
767.3
1,045.9
6.7
1,656.4
807.2
851.8
4.6
1,680.6
816.8
670.2
5.2
1,480.1
772.6
675.7
5.2
1,488.4
803.5
760.6
4.5
1,807.5
878.2
758.3
6.4
1,511.9
817.4
904.0
4.9
1,851.3
896.5
843.2
866.6
5.2
3.4
2,035.1 - 1,988.8
839.9
960.0
408.6
14,937.3
39.3
1,141.0
47.4
1,037.4
28.3
1,029.1
26.1
1,098.2
46.0
1,242.6
56.6
1,447.2
25.1
1,297.1
12.9
1,233.2
28.8
1,300.1
36.6
1,433.2
31.3
1,331.4
30.1
1,346.7
23.0
1,273.0
69,006.3
5,319.1
5,548.5
6,075.3
5,976.2
6,041.7
6,291.8
5,073.1
4,813.7
6,153.8
6,077.9
5,695.6
5,939.7
5,680.7
43,447.5
7,526.2
19,131.8
6,537.0
3,485.4
751.5
1,303.3
481.6
3,427.2
625.4
1,501.6
502.8
3,741.3
633.9
1,698.2
535.8
3,715.1
515.5
1,937.0
466.3
3,314.0
650.1
1,327.5
506.3
3,680.2
629.7
1,719.6
507.1
3,448.7
554.9
1,708.0
430.4
3,309.2
638.2
1,461.0
454.2
3,835.4
732.1
1,479.4
657.9
3,682.1
607.4
1,562.7
696.3
3,920.9
608.2
1,647.1
696.9
3,888.0
579.3
1,786.3
601.5
3,762.3
631.2
1,501.1
664.7
20,004.5 1,796.5 1,701.3 1,969.9 1,664.8 1,726.7 1,694.3 1,438.1 1,507.8 1,651.9 1,393.7 1,590.6 1,868.9 2,043.6
325,271.0 27,039.3 24,239.9 26,754.9 26,906.9 27,575.4 28,441.3 25,562.1 24,739.5 29,697.2 27,035.7 28,419.7 28,859.1 29,961.6
18,649.3 1,647.5 1,570.4 1,868.2 1,520.3 1,583.4 1,565.1 1,364.4 1,399.6 1,542.6 1,277.9 1,521.6 1,788.5 1,889.6
246.7
259.5
283.2
336.0
347.2
276.7
319.4
360.0
3,726.7
284.9
320.3
349.7
343.1
325.7
10,391.2
53,917.1
49,606.6
842.0
4,434.1
3,972.9
866.2
3,988.5
3,522.7
976.7
3,351.1
2,933.7
850.9
4,875.8
4,452.6
889.7
4,748.2
4,414.7
915.4
5,087.8
4,750.2
873.8
4,146.4
3,839.5
849.9
3,936.8
3,684.3
914.9
4,596.8
4,323.6
909.6
4,699.2
4,382.9
770.7
4,824.2
4,488.9
731.4
5,228.2
4,840.7
834.4
5,344.4
4,893.8
672.2
14,532.8
46,451.2
67.5
1,143.4
4,006.5
51.6
1,140.3
3,612.9
54.8
1,318.7
4,121.7
45.5
1,117.4
3,676.9
61.7
1,447.3
3,800.5
50.8
1,373.2
4,065.1
65.0
1,085.4
3,600.8
64.7
1,018.7
3,661.5
50.4
1,264.3
4,506.5
46.8
1,202.7
3,647.8
61.8
1,255.5
3,883.6
51.7
1,166.0
3,867.3
55.5
1,280.3
3,879.6
137,263.5 11,655.9 10,047.5 11,731.4 11,848.6 11,632.2 11,922.1 10,300.2 10,179.3 12,313.7 11,003.4 12,152.4 12,476.7 12,909.2
75,298.7 6,658.7 5,448.3 6,711.3 6,556.3 6,091.0 6,186.2 5,765.3 5,852.1 6,957.1 6,113.7 6,463.3 6,495.3 6,885.6
61,964.8 4,997.2 4,599.3 5,020.0 5,292.2 5,541.2 5,735.9 4,534.8 4,327.3 5,356.6 4,889.7 5,689.2 5,981.4
6,023.7
55,739.7 4,412.2 4,204.0 4,501.9 4,662.7 4,822.4 5,144.5 4,094.7 3,941.5 4,882.7 4,378.5 5,264.6 5,429.8 5,346.6
Feb.
S-18
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
Annual
.,
urns
March 1986
1986
1985
IT
1984
1985
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Oct.
Sept.
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
General imports:
Unit value
do
Quantity
do
Value
do
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Shipping weight ....
thous sh tons
Value
mil $
General imports:
Shipping weight
thous sh tons
Value
mil. $..
1562
115 1
1798
1550
1130
1752
1563
1180
184 4
157 4
1077
1694
157 4
1278
201 2
156 4
1138
1780
157 6
115 0
1813
157 5
1126
1774
156 4
105 2
164 6
154 4
105 3
1626
154 5
1087
1679
154 4
1129
1743
1536
113 4
1742
1547
1084
1677
1635
1367
2235
1594
148 6
2369
1604
1480
2375
1602
133 3
2136
1596
1482
2365
1592
147 8
2353
160 1
150 6
241 2
1584
1567
248 2
1584
1404
222 3
159 1
135 9
216 1
1592
162 2
258 2
1597
146 6
234 l
161 0
153 4
247 1
1620
156 2
2530
374 689
101 803
32092
8333
28196
7655
28864
8,231
28950
7853
30264
7604
27632
6956
27342
7355
28 750
7369
27012
7243
28962
7362
413 092
191,113
34 255
17,597
28 169
14,951
26394
16,458
32949
16,968
33270
17,566
36212
18,267
30618
16,199
30744
16,227
38902
19,188
33 442
16,367
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers
Certificated route carriers:
Passenger-miles (revenue)
bil..
Passenger-load factor
percent..
Ton-miles (revenue) total
mil
Operating revenues (quarterly) # §
mil. $..
Passenger revenues ..
do
Cargo revenues
do
Mail revenues
do
Operating expenses (quarterly) §
do....
Net income after taxes (quarterly) §
do....
Domestic operations:
Passenger-miles (revenue)
bil
Cargo ton-miles
mil
Mail ton-miles
do
Operating revenues (quarterly) §
mil $
Operating expenses (quarterly) § ..
.do ..
Net income after taxes (quarterly) §
do....
International operations:
Passenger-miles (revenue)
bil..
Cargo ton-miles
mil
Mail ton-miles ....
do
Operating expenses (quarterly) §
Net income after taxes (quarterly) §
Urban Transit Systems
Passengers carried total
Motor Carriers
Carriers of property, large, class I, qtrly.:
Number of reporting carriers
2
305.12
59.2
38,697
2
43,790
2
36,978
2
2,952
705
2
41,662
2
747
2
2
2
2
2
243.69
2
3,565
1,160
2
35,373
2
33,787
2
416
2
.do....
....do....
61.42
3,001
457
2
7,872
2
7,378
287
mil
8030
2
Net income, after extraordinary and prior
period charges and credits
mil $
Tonnage hauled (revenue), common and
contract carrier service
mil. tons ..
Freight carried— volume indexes, class I and II
intercity truck tonnage (ATA):
Common carriers of general freight,
seas adj
1967 100
Class I Railroads t
Financial operations, quarterly (AAR),
excluding Amtrak:
Freight
g
.
do
'
,
N t T
O A*
-
4
ti 0 ' en P
.
do
j
Traffic:
T?
' H
Motor hotels: Average room sale <)
Economy hotels: Average room
sale 0
Rooms occupied
Foreign travel:
U.S. citizens: Arrivals (quarterly)
AT
1 (
A
D
t
t 1 )
(
t
1M
Passports issued ....
National parks, recreation visits ##
See footnotes at end of tables.
°7
f tnt 1
dollars ..
dollars
% of total
thous .
H
H
do
do...
21.81
56.6
2,746
28.26
67.4
3,446
10,663
9,001
626
218
10,560
-153
27.39
63.7
3,332
28.72
65.0
3,486
29.97
70.6
3,606
11,975
10,185
646
214
11,170
423
32.85
65.8
3,908
33.80
67.1
4,011
26.03
55.7
3,232
26.88
55.8
3,408
24.32
54.3
3,139
28.26
59.1
3,512
1,213
19.24
229
96
18.31
230
93
24.04
264
108
8,915
8,794
-87
22.78
252
99
22.93
260
99
23.04
253
92
9,685
99,007
377
25.43
257
88
26.06
262
96
19.84
253
88
21.43
290
104
19.97
275
100
23.48
246
135
65.84
2,874
443
4.22
200
34
3.50
212
32
4.22
213
35
1,595
1,619
4.61
210
33
5.79
221
34
6.93
230
34
2,132
2,019
31
7.42
245
33
7.74
237
35
6.19
256
33
5.45
292
34
4.36
286
46
4.79
250
55
719
713
701
652
641
672
639
735
675
270.06
2
3,132
2
2
67
656
646
100
4089
100
4,326
100
4,541
412
34
116
120
161
35
38
38
100
17,413
2
143.9
2
137.0
140.9
138.5
139.1
137.3
137.1
r
133.7
132.2
134.3
135.1
138.3
140.3
136.6
r
875.4
99.9
100.0
100.0
220.5
100.0
100.0
100.0
222.8
99.9
99.8
99.8
216.2
99.8
99.8
99.8
'215.7
99.8
5
213
69.01
66
45.75
66
3
214
69.92
64
47.71
64
168
71.67
56
45.49
55
201
71.46
64
47.76
63
234
71.93
69
48.15
71
203
71.62
68
46.93
67
247
71.45
69
47.54
67
227
68.19
69
48.14
71
217
67.02
65
47.87
73
203
67.02
68
48.24
73
204
67.82
63
48.11
62
225
73.07
69
48.22
65
219
68.18
60
48.48
58
220
69.66
49
47.54
47
29.90
65
31.13
64
29.06
51
29.27
58
30.18
65
30.07
64
30.11
66
30.95
75
31.25
76
31.41
78
30.06
65
29.49
64
30.21
56
29.51
45
4
1,863
4
1,510
4
992
4
552
4,015
3,908
4,195
2,205
1,889
480
6,831
4
1,703
4
415
1,237
3,254
2,972
1,946
1,573
605
1,916
279
5,504
275
4,140
247
1,896
261
1,328
921.5
99.3
14,242
13,909
8,970
7,698
4,696
49,015
4,955
49,329
400
1,179
628
2,798
"139.6
6,743
6,524
26
5,914
573
646
7,068
6,840
26
6,154
646
640
7,002
6,774
25
6,381
390
418
29,459
28 478
101
25,804
2
3 655
2659
r
Price index for railroad freight
12/84 = 100 ..
Travel
Lodging industry:
Restaurant sales index same month 1967 — 100
23.46
55.2
2,905
335.90
61.4
41,252
1,666
4
994
4
770
461
9,342
959
353
9,142
*66.0
100.9
368
1,549
4
68.1
101.0
"386
S-19
SURVEY OF CURRENT BUSINESS
March 1986
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
,, .
units
1984
1986
1985
Annual
1985
Jan.
Mar.
Feb.
Apr.
June
May
Nov.
Oct.
Sept.
Aug.
July
Jan.
Dec.
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....
Access lines *
mil
Telegraph carriers, domestic and overseas: @
Operating revenues .
.
.
mil $
Operating expenses
do
Net operating revenues (before
taxes),
do....
67,625
28322
10353
44 435
12206
5903
2417
674
3 810
1 071
105 1
5725
2216
631
3 657
1 069
105 5
5766
2464
662
3 891
972
105 5
5965
2490
658
3 874
1,131
105 6
6016
2505
690
3 985
1,030
1057
6013
2498
667
3 836
1,111
1057
6073
2510
674
3 907
1,102
1056
6 154
2542
769
3 928
1,157
105 9
5984
2528
700
3922
1,083
1064
6,118
2567
693
4 136
1,034
1066
5,943
2531
656
3995
1,022
1072
13829
1 227 6
1168
103 0
1098
92 1
117 9
100 8
1190
94 2
1194
100 5
1135
95 3
1173
1024
1133
99 4
1149
93 1
111 1
1109
1066
1040
6.8
9.3
10.4
19.0
12.5
13.9
8.3
10.1
16.0
-6.5
-3.1
67.7
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic Chemicals
Production:
Aluminum sulfate, commercial (17% ALzOa) $
thous sh tons
Chlorine gas (100% Ch) ±
do. .
Hydrochloric acid (100% HC1) ±
do....
Phosphorus elemental "£
do
Sodium hydroxide (100% NaOH) t
do
Sodium silicate anhydrous "c
do
Sodium sulfate anhydrous i
do
Sodium tripolyphosphate
(100% NasPaOio) ±
do .
Titanium dioxide (composite and
pure) "fc
.
do
Sulfur, native (Frasch) and recovered:
Production
thous met. tons..
Stocks (producers') end of period
do....
Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydrous $
thous. sh. tons ..
Ammonium nitrate, original solution if"
do ..
Ammonium sulfate i"
do....
Nitric acid (100% HNOa) f
do
Nitrogen solutions (100% N) i
do....
Phosphoric acid (100% P2Os) $
do
Sulfuric acid (100% H2SO4)
do....
Superphosphate and other phosphatic
fertilizers (gross weight):
Production
thous sh tons
Stocks end of period
.
....
do
Potash, sales (KzO)
... ..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 t
Production:
Acetylene
mil cu ft
Hydrogen (high and low purity) .
do
Nitrogen (high and low purity)
do....
Oxygen (high and low purity)
do....
Organic Chemicals §
Production:
Acetylsalicylic acid (aspirin)
.mil lb..
Ethyl acetate (85%)
Formaldehyde (37% HCHO)
Glycerin refined all grades
Methanol synthetic
Phthalic anhydride
ALCOHOL
Ethyl alcohol and spirits:
Production
Denatured alcohol:
Production
F f 1
Stocks end of period
See footnotes at end of tables.
1003
10,476
2,778
359
10967
736
1276
1 129
10,700
2,732
386
10914
685
901
82
848
212
32
880
63
72
74
829
226
27
875
68
74
90
908
263
32
954
57
85
81
926
235
34
975
53
92
85
927
246
32
963
66
101
87
929
246
33
935
63
101
89
905
237
29
943
57
105
90
848
217
29
885
52
113
82
846
238
25
899
59
125
;
86
849
243
30
908
86
132
79
779
202
29
835
64
136
77
882
215
27
915
48
140
675
607
52
48
57
52
54
53
52
53
50
53
43
40
835
814
62
62
63
68
67
73
71
65
72
68
67
75
10,291
2,815
834
2,419
765
2,451
839
2,483
843
2,422
887
2,420
848
2,456
914
2,523
867
2,561
855
2,575
897
2,614
849
2,670
891
2,815
16,691
16,103
1,462
1,359
1,485
1,463
1,460
1,407
1,312
1,231
1,241
1,327
1,198
1,158
7,146
2,067
7726
3,208
11370
41,802
6,906
2,049
7804
2,867
10492
39,615
624
171
681
240
888
3,311
552
163
627
215
860
3,127
644
186
708
291
996
3,553
628
172
698
290
968
3,540
665
195
720
288
914
3,350
607
159
682
246
847
3,324
556
175
613
202
842
3,321
508
162
594
230
802
3,248
532
165
621
228
919
3,375
561
185
650
222
922
3,409
544
154
638
225
799
3,094
485
162
572
190
735
2,963
17363
1 179
6,195
24,703
2313
13680
1044
15473
1133
5,964
4
13,182
4
1 207
4
64 921
597
1 396
1076
630
3,141
222
1418
145
1 329
1,117
437
2,039
155
1058
82
1476
991
449
2,487
321
1318
98
1456
704
760
1,714
252
892
52
1447
773
692
2,264
199
1233
125
1318
961
320
1,537
58
1002
95
1325
927
228
1,220
833
544
1,235
798
545
1,195
799
434
1,147
1,084
269
929
1,133
655
mi
532
363
8,639
122
561
403
8,233
142
48
18
622
12
41
44
839
30
56
70
738
36
77
56
897
20
40
28
1,045
3
()
67
30
642
7
23
12
399
14
32
11
586
3
()
58
30
682
6
38
43
712
1
47
24
503
4
34
37
568
13
85
33
903
9
4855
109,059
601 206
375,476
4481
106,976
647,115
378,918
374
7,903
52,460
29,888
384
8,582
50,821
27,811
402
9,243
54,601
33,724
382
8,923
52,172
32,650
400
9,415
52,791
31,976
385
9,053
53,051
29,824
369
8,362
53,010
30,954
425
8,191
54,421
32,407
382
7,967
55,453
32,281
r
345
r
9,858
r
57,989
r
296
9,541
54,845
32,080
337
9,938
55,501
33,275
'33.9
'860
mil lb 1 193 5
do.... 5,814.5
3027
do
mil. gal . 7 1,232.8
1
870.2
mil. lb..
23.3
712
2144
5,700.8
3194
900.5
835.7
1
9,407
2,434
1
mil tax gal
• • mil. wine gal
do
•• do .
r
1
2
7.6
2
187
2
285
25.4
6313
1325
64.1
1238
45.0
1282
4168
4105
1167
245
41.5
400
144
28.0
30.4
31 6
12.1
25.1
473
2
1,428.7
22.5
2
218.0
2
208.5
28.3
267
60.5
1266
55.6
1307
56.2
1159
38.2
431
15.2
20.2
57.1
533
20.9
23.9
44.8
532
18.1
14.3
7.2
192
534
1,481.6
26.2
225.9
222.8
(4)
(4)
(4)
(4)
4.4
183
618
1,396.8
26.1
240.8
201.1
32,048
287
23.7
63.6
994
584
945
55.4
605
59.4
530
64.1
466
45.3
433
18.3
16.0
37.9
407
188
12.4
44.6
445
22.0
12.0
36.5
365
15.7
11.1
41.2
46.6
19.2
26.5
33.6
278
4.1
149
51 9
13936
21.9
215.7
203.3
Feb.
S-20
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
Annual
,, .,
umis
1984
March 1986
1986
1985
1985
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Feb.
Jan.
CHEMICALS AND ALLIED PRODUCTS—Continued
PLASTICS AND RESIN MATERIALS
Production:
Phenolic resins
mil. lb..
Polyethylene and copolymers
do....
Polypropylene
do
Polystyrene and copolymers
do....
Polyvinyl chloride and copolymers
do ....
PAINTS, VARNISH, AND LACQUER <>
Total shipments
mil $
Architectural coatings
do .
Product coatings (OEM)
do
Special purpose coatings
do ....
1
;
1,656.3
15,003.2
6,827.5
1,418.7
15,385 6
51803
5,586.3
6,889.8
86864
3,629 4
32705
1,786.5
99292
4 1066
34900
2,332.6
1
5 216 4
1
6,857.0
1
2
358.8
2
37732
2
1213
4
2
l'3391
2
365.0
3862 1
1 301 1
14912
17215
1,749.2
6695
2326
290 0
147.0
6612
2330
2753
152.8
8062
3335
287 1
185.6
9255
4056
311 8
208.1
9960
461 0
3150
219.9
942 9
429 1
302 4
211.4
347.0
39396
1 328 9
13766
17594
3478
38107
1 336 9
13794
16598
925 5
4178
285 1
222.7
9254
414 0
301 5
209.8
864 3
3426
298 3
223.4
7200
2652
274 4
180.5
6143
2280
234 5
151.8
194,730 192,966
174 681 169 470
20 048 23 496
219,215
193 869
25 346
8784
3442
314 5
219.7
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production:
Electric utilities, total
mil. kw.-hr.. 2,416,304 2,469,072 227,733 198,121 194,707 184,740 196,635 205,025 226,712 226,050
By fuels
do
2 095 154 2 187 528 200 235 172 240 170 123 160 371 170 220 181 190 205 429 206 069
By waterpower
do
27498 25880 24583 24370 26 415 23 834 21 283 19 981
321 150 '281*544
Sales to ultimate customers, total (Edison
1
1
Electric Institute)
mil. kw.-hr.. 2,279,923
588,112
2,318,379
561,047
;
Commercial §
do
145 282
578,163 1 613 267
148 148
Industrial §
do... 1 837,661 1 822,048
201,548
211 825
1,232
M,412
Railways and railroads
do. ..
'4,728
1 092
219,084
Residential or domestic
do .... 1 777,421 1 794,546
178 184
3,660
Street and highway lighting
do .... 11 14,155 11 14,260
3538
16,015
63,786
16,784
62,076
Other public authorities
do....
1
1291
5 744
'6036
Interdepartmental
do
1478
Revenue from sales to ultimate customers
36,427
36 174
(Edison Electric Institute)
mil. $.. 1 142,201 1 148,876
GAS t
Total utility gas, quarterly
(American Gas Association):
50,272
49957
49494
Customers end of period total
thous
46,153
45910
45516
Residential
do
3,887
3819
Commercial
do
3751
184
180
180
Industrial
do
48
47
48
Other
do
4,761
13,162
2,345
Sales to customers, total
tril. Btu..
2166
739
4628
Residential
do
1037
396
Commercial
do
2396
1,504
1 184
5991
Industrial
do
54
26
146
Other
do
Revenue from sales to custom24,914
11,854
67,496
ers, total
mil. $..
12,474
27,485
4,581
Residential
.do....
5699
2209
13205
Commercial
do
6490
4951
26093
Industrial
do
252
113
713
Other
do ....
202,438
183 629
18 810
620,612
170 183
211 033
1 135
216,511
3,373
16,815
1 563
563,117
150 520
204 073
1,208
187,754
3,663
14,509
1 391
41,347
35,928
49589
45614
3750
178
47
1,990
383
272
1315
19
9,486
2,674
1474
5255
83
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production
....
mil bbl .
Taxable withdrawals
do
Stocks end of period
do
Distilled spirits (total):
Consumption, apparent, for beverage
purposes $
mil wine gal
Imports
Whisky:
q,
,
mil proof gal..
j
f
.
i
Imports
Wines and distilling materials:
Effervescent wines:
T
hi
'thd
Q.f t
H f
Imports
Still wines:
T
V>1
£
mil proof gal
1
' H
'fhHI
1
Qf t en rJ of pe 10A ...
otocJcs,
Distilling materials produced at
See footnotes at end of tables.
do
H
do ....
Ho
rl
17.71
1604
13.93
14.54
1359
13.77
14.36
14.01
13.23
193.22
17511
1307
15.50
1351
1372
124 19
1000
1575
922
766
782
720
602
468
757
1203
426 16
554 64
117.86
115.78
3019
55377
8.48
2922
55693
7.73
32.52
62449
9.60
32.41
55431
7.28
33.30
55251
8.74
33.84
549.98
11.40
32.88
545.16
7.94
35.41
538.94
9.10
49.57
640.44
13.46
28.58
535.56
11.02
8029
48213
7804
79.68
602
47940
5.96
684
484.76
5.74
623
556.23
6.42
513
481.47
4.48
557
48064
5.81
510
480.34
8.30
394
477.03
5.02
313
472.34
5.97
338
466.70
9.45
15.76
224
134
1559
1.43
264
186
1638
1.09
1 51
1 17
1812
.92
188
363
1795
1.04
2.16
146
1807
1.18
210
1 22
1822
1.02
3.47
276
19.14
.90
121.00
689
2632
60478
11.23
4.97
2887
57744
7.48
5.59
3259
55891
9.16
3.76
3527
51052
9.46
4.00
3652
49881
9.95
2.56
3870
44870
11.16
3.29
3845
41747
9.06
55.99
3891
406 13
9.03
7 14
210
2.74
2.53
557
571
259
24.47
193.02
17556
1286
3566
31 83
15 98
14.91
r
438 20
r
378 97
606 08
12749
15336
14.46
1274
14 18
156
1 04
1730
.86
16.76
1446
1497
17.97
1586
1521
18.86
1760
1490
18.23
1617
1524
18.59
1663
1497
13.12
12.39
13.12
13.13
12.11
13.07
33.32
12.00
9.02
6.83
4.97
463.68
8.05
8.27
6.21
4.37
1.40
1.55
2.35
2.02
i.25
10.46
10.28
12.91
10.82
9.58
S-21
SURVEY OF CURRENT BUSINESS
March 1986
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
, T ..
LI mis
1984
1986
1985
Annual
1985
Jan.
Mar.
Feb.
Apr.
May
June
Aug.
July
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS
Butter:
Production (factory)
mil Ib
Stocks, cold storage, end of period
do ....
Producer Price Index
1967 = 100 ..
Cheese:
Production (factory) total
mil Ib
American, whole milk
.do....
Stocks, cold storage, end of period
do....
American, whole milk
. do....
Imports
do
Price, wholesale, cheddar, single daisies
(Chicago)
$ ppr Ib
Condensed and evaporated milk:
Production case goods
mil Ib
Stocks, manufacturers', case goods, end of
period
do....
Exports
. .. do....
Fluid milk:
Production on farms
do
Utilization in manufactured dairy
products
do
Price, wholesale, U.S. average
$ per 100 Ib ..
Dry milk:
Production:
Dry whole milk
mil. Ib..
Nonfat dry milk (human foddX
..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..
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats, rye,
wheat)
mil bu
Barley:
Production (crop estimate)
do....
Stocks (domestic), end of period, total
do....
On farms
do
Exports, including malt §
do....
Producer Price Index, No. 2 feed,
Minneapolis
1967 — 100.
Corn:
Production (crop estimate, grain
only)
. .
mil bu
Stocks (domestic), end of period, total
do....
Off farms
do
Exports, including meal and flour
do ....
Producer Price Index, No. 2, Chicago
1967-100..
Oats:
Production (crop estimate)
mil. bu..
Stocks (domestic), end of period,
total
do
On farms
do
Off farms
do
Exports including oatmeal
. .
do..
Producer Price Index, No. 2, Minneapolis
1967-100..
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....
Producer Price Index, medium grain,
milled
1967 — 100..
Rye:
Stocks (domestic), end of period
Producer Price Index, No. 2,
Minneapolis
Wheat:
C
U
+
'
118.4
277.3
216.9
107.5
289.4
216.6
107.1
291.7
216.9
110.8
272.7
217.5
112.9
283.2
217.4
97.3
286.8
217.6
94.7
280.7
215.1
91.3
264.6
216.1
93.6
247.0
215.2
109.0
231.6
'218.8
101.5
206.9
218.7
115.9
205.5
218.6
135.8
'206.3
213.2
4,673.8
2,648.2
986.2
884.8
306.0
5,009.0
2,854.2
852.9
758.8
302.5
390.6
223.1
968.9
865.7
16.8
355.3
201.7
944.4
844.0
24.0
411.5
230.9
907.7
806.4
19.5
423.8
251.2
898.6
791.9
19.7
451.1
271.5
911.0
803.0
20.6
441.3
265.5
954.2
846.8
26.6
429.3
251.4
963.5
853.6
22.3
424.7
248.9
962.9
856.8
24.7
404.2
221.8
941.0
841.5
27.8
429.4
230.5
891.8
794.6
35.5
412.2
221.9
877.5
782.5
31.6
435.4
235.9
852.9
758.8
33.3
425.9
239.2
'835.8
'742.1
22.9
1.704
1.620
1.683
1.667
1.660
1.631
1.677
1.667
1.582
1,651
1.556
1.556
1.556
1.556
1.556
647.7
625.8
44.2
43.1
50.7
59.3
61.8
57.8
57.9
55.6
49.1
51.2
46.5
48.6
43.1
41.7
8.1
62.3
11.6
42.2
.8
43.6
.7
50.2
.7
68.2
.9
83.3
.9
97.6
.7
113.8
.7
119.9
.8
117.1
.9
105.7
1.1
79.1
1.4
62.3
1.9
61.3
1.4
135,479
143,667
11,291
10,525
11,929
12,082
12,885
12,532
12,588
12,388
11,857
12,058
11,564
11,968
12,176
11,297
76,464
13.50
82,881
12.85
6,494
14.00
6,021
13.70
6,787
13.30
7,172
12.90
7,780
12.50
7,472
12.10
7,487
12.10
7,193
12.10
6,669
12.30
6,834
12.60
6,287
12.60
'6,685
12.60
6,992
'12.50
"12.40
119.6
1,158.9
140.7
1,390.8
11.7
88.4
11.1
91.1
14.1
104.6
10.9
126.0
13.1
139.9
11.0
143.2
11.5
141.5
12.7
132.2
13.6
105.8
10.4
105.8
11.9
96.7
8.7
115.7
9.2
123.7
5.4
61.1
6.5
78.2
6.6
'56.3
6.5
'57.7
7.8
'64.5
7.1
'70.4
6.2
'79.8
6.3
'94.2
6.3
'87.6
5.8
80.8
6.9
81.0
4.6
70.7
5.8
68.6
6.5
78.2
5.5
68.0
202.7
275.6
5.5
8.6
29.5
41.5
5.3
17.3
'24.6
22.7
46.9
39.3
30.8
3.7
18.3
.912
.849
.915
.913
.913
.871
.855
.851
.826
.810
.810
.810
.808
.811
.811
3,611.0
2,690.2
'320.9
255.3
233.8
239.5
188.1
165.1
182.9
153.3
298.2
242.8
238.3
5.3
6548
461.5
1933
.9
3.9
533.6
365.1
1684
.1
1.5
135.9
135.9
7
2
200.9
2
7,674.0
5,864.2
4,304.1
1,560.2
1,928.6
473.7
Off farms
Exports, total, including flour
Wheat only
do
do...
do...
589.2
533.6
365.1
168.4
34.8
150.1
'7.1
169.9
8,865.0
7,876.8
5,525.0
2,351.7
1,726.9
204.8
208.2
215.5
4.5
174.1
165.6
163.2
3,965.5
2,833.8
1 1317
170.7
.4
*2474
4
163.4
4
840
3.0
174.1
174.1
1.6
165.6
3.9
212.6
2.8
123.2
123.2
118.9
95.6
90.8
'i,380'.7'
'6789
1
701.8
79.9
123.7
214.9
194.2
185.7
172.2
152.9
123.2
1.556
135.9
214.6
217.8
3
2,835.5
3
2,007.8
3
827 7
135.4
167.7
220.0
223.4
105.7
219.6
210.0
7,876.8
5,525.0
2,351.7
176.1
164.8
188.0
192.1
190.7
.4
378.6
310.2
684
(5)
193.0
518.6
378.6
310.2
68.4
1.7
.1
266.5
216.8
258.7
138.8
r
319.9
216.7
103 1
1.3
197.8
816.5
726.4
2
358.1
300.3
57.7
1.9
2
r
243.9
213.1
2
250.9
2
2
.1
2564
2117
447
.1
261.5
259.4
4
179
4
146
4
.2
9
4
33.4
.1
.1
.1
.2
511.0
416.0
950
.1
242.3
237.3
224.6
218.9
175.5
175.5
167.0
.2
186.2
194.7
.1
202.6
185.4
136.0
(9)
(9)
(9)
207
9,476
9,230
535
391
615
358
228
180
183
900
2,876
1,553
673
739
6,183
5,659
462
460
396
427
461
405
443
466
557
536
507
539
338
2,868
4,509
2,751
4,104
2,775
236
2,627
292
2,683
411
1,856
315
1,415
355
1,132
296
854
336
1,017
380
2,389
489
2,867
420
2,821
290
2,751
283
2,584
277
202.7
206.3
196.5
199.8
204.7
204.6
206.3
206.6
207.0
206.2
205.9
215.9
214.4
207.9
207.2
207.5
2
2
199.3
196.8
197.6
203.6
207.9
187.7
189.0
190.7
178.3
199.8
212.6
195.5
86.5
85.6
6
886
2,971.1
1,248.4
1,722.7
72.3
72.0
32.5
(9)
200.9
S
2 595
2
534
2
2,060
'2,789
2,141.0
930.3
1,210.8
1,584.5
1,545.0
2
2
An
2
599.2
436.9
307.3
129.6
95.5
do....
do....
do....
1,260.1
205.5
217.0
1967—100
Distribution, quarterly @
Stocks (domestic), end of period, total
See footnotes at end of tables.
1,103.3
296.6
228.8
20.6
195.1
2 425
2
598
2
1,827
2,044
2,536.4
1,022.3
1,514.1
926.8
893.1
105.6
105.3
'87.4
81.8
475
1,667.1
713.4
953.7
61.7
57.4
re 244
4
71.2
65.0
1,425.2
4
582.1
4
843.2
59.4
55.8
80.7
79.1
65.6
63.6
85.9
85.6
83.8
81.3
439
2,536.4
1,022 3
1,514.1
66.5
60.5
71.8
68.6
S-22
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
SURVEY OF CURRENT BUSINESS
Annual
,, .
March 1986
1986
1985
units
1984
1985
Jan.
Feb.
Mar.
Apr.
May
June
Aug.
July
Nov.
Oct.
Sept.
Feb.
Jan.
Dec.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Continued
Wheat— Continued
Producer Price Indexes:
Hard, winter Ord, No. 1, Kansas City
1967 = 100..
228.3
204.6
Spring, No. 1, D.N. Ord, Minneapolis
1967 = 100..
186.4
220.8
Wheat flour:
Production:
Flour
thous sacks (100 Ib )
299 476 313 003
Millfeed
thous sh tons
5421
5502
Grindings of wheat
thous. bu . 674 665 698 335
Stocks held by mills, end of period
thous sacks (100 Ib )
4787
4230
Exports
.do. . 1 16 955 14,455
Producer Price Index
6/83 — 100
978
966
POULTRY AND EGGS
Poultry:
Slaughter
mil. Ib .
16,944
16,181
Stocks, cold storage (frozen), end of period,
324
267
total
mil Ib
Turkeys
do..
150
125
Price, in Georgia producing area,
live broilers
$ per Ib..
.282
.320
Eggs:
1895
Production on farms
mil cases §
1900
Stocks, cold storage, end of period:
24
31
Shell
thous. cases § ..
Frozen
mil. Ib..
13
13
Price, wholesale, large (delivered; Chicago)
.634
$ per doz..
.786
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
3,168
Calves
thous. animals3,030
34,760
Cattle
do....
35,880
Prices, wholesale:
58.37
Beef steers (Omaha)
$ per 100 Ib ..
65.33
Steers, stocker and feeder
62.08
63.11
(Kansas City)
do....
58.28
Calves, vealers (So. St. Paul)
do....
63.98
Hogs:
81,947
Slaughter (federally inspected) thous. animals82,478
Prices:
Wholesale, average, all weights (Sioux City)
$ per 100 Ib ..
49.03
44.98
Hog-corn price ratio (bu. of corn equal in
value to 100 Ib. live hog)
17.7
15.3
Sheep and lambs:
Slaughter (federally inspected) thous. animals ..
6,549
5,976
Price, wholesale, lambs, average (Omaha)
68.41
$per!001b..
61.39
MEATS
Total meats (excluding lard):
39,118
38,987
Production
. .
mil. Ib..
607
696
Stocks, cold storage, end of period
do....
Exports (meat and meat prepara1,461
1 422
tions)
do
Imports (meat and meat prepara2511
2 160
Beef and veal:
23,895
24,046
Production total
.do....
372
329
Stocks cold storage end of period
do....
660
627
Exports
do
1,449
1277
Imports
do
Price, wholesale, beef, fresh steer carcasses,
choice (600-700 Ibs.)
.913
1.001
(Central U S )
$ per Ib
Lamb and mutton:
351
372
Production, total
mil. Ib..
7
13
Stocks cold storage end of period
.do....
Pork (excluding lard):
14,722
14720
Production total
do
229
274
Stocks cold storage end of period ..
. ...do....
192
197
Exports
do....
934
784
Prices:
Producer Price Index, Hams, smoked
284.4
294.1
1967 = 100..
Fresh loins, 8-14 Ib. average,
1.136
1 157
wholesale ( N Y )
$ per Ib
' MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans:
266 1
1909
Imports (including shells)
thous Ig tons
Producer price, Accra (New
1 262 2 1 090
York)
$ per Ib
Coffee:
18,698
17,734
Imports total
thous bags 0
4,148
3866
From Brazil
do
Producer price, Santos, No. 4
2
1.430
1.430
(NY)
$ per Ib .
Fish:
362
370
Stocks cold storage end of period
mil Ib
See footnotes at end of tables.
228.2
226.5
217.1
218.0
205.2
208.1
191.9
181.4
183.8
186.2
203.4
204.8
199.8
197.7
193.4
196.0
195.6
200.2
197.5
198.2
189.4
159.1
160.6
165.4
193.7
188.0
187.6
183.0
25495
447
56866
25571
445
57,319
26317
465
58893
24683
434
54976
26147
457
58 142
24079
419
53613
24248
426
54 157
27239
485
60723
26760
469
59617
28977
503
64,888
28324
504
63211
25,163
446
55,930
2659
1003
1 548
97 0
4980
693
96 3
848
95 2
381
93 1
4992
132
93 7
1,374
96 1
960
1,431
1,486
1,375
1,401
138
982
2,417
987
4303
1,857
983
1,189
1,309
r
r
r
r
132
94 9
1,644
1 079
96 7
4,787
2,569
968
1,523
1,558
1,319
1,337
281
124
291
131
300
131
334
157
349
182
421
243
494
305
569
388
626
444
666
484
377
208
324
150
r
330
157
336
159
.290
.290
.285
.260
.270
.295
.295
.270
.295
.260
.305
.280
.285
.270
165
147
165
158
159
153
157
158
154
160
157
163
163
30
15
29
14
23
14
26
13
30
15
21
15
30
18
20
18
22
16
23
15
28
14
24
13
28
13
1,372
22
12
.584
.551
.623
.573
.529
.608
.586
.664
.705
.707
.746
.732
.706
.657
270
3,134
236
2,661
261
2,761
252
2,848
246
3,052
221
2,770
274
3,023
272
3,089
271
2,877
298
3,097
268
2,669
298
2,778
289
3,204
256
2,613
64.35
62.80
59.58
58.72
57.58
56.69
53.26
51.94
51.29
58.02
63.30
62.94
59.69
56.42
66.00
52.00
67.02
62.19
66.66
60.00
66.06
60.00
64.25
60.00
59.11
63.44
57.43
62.25
57.81
58.59
56.27
60.00
59.12
60.00
60.05
55.00
62.04
45.94
61.34
45.00
61.68
52.50
7,114
6,208
6,932
7,177
7,359
6,209
6,399
6,810
6,738
7,566
6,797
6,640
6,968
6,120
49.60
49.55
44.54
41.85
42.70
45.67
47.09
43.91
40.42
44.20
44.46
47.11
45.60
43.80
18.2
18.4
16.4
15.5
17.0
17.6
17.4
20.3
19.6
19.8
19.0
19.0
15.3
17.4
473
564
512
494
423
480
554
460
490
62.13
66.92
67.75
69.50
74.25
72.56
71.98
71.42
68.94
63.32
62.50
60.62
61.75
68.50
3,420
735
2,938
711
3,161
721
3,294
773
3,486
785
3,080
756
3,276
739
3,401
679
3,251
656
3,545
646
3,119
633
3,144
607
3,482
r
617
2,935
619
119
110
118
112
116
116
130
139
118
139
122
123
124
193
179
207
213
214
221
230
232
226
198
196
201
225
2,108
388
50
102
1,805
362
56
94
1,897
345
56
92
1,976
339
48
125
2,130
312
53
130
1,931
303
47
123
2,102
331
64
145
2,163
322
63
152
2,027
319
55
144
2,155
307
64
114
1,854
314
48
106
1,899
329
55
122
2,185
330
63
134
1,809
312
.995
.974
.920
.892
.895
.885
.822
.800
.997
.988
.923
.868
544
485
496
507
441
.811
.911
32
7
28
7
33
7
30
8
29
8
24
9
28
c
29
10
28
9
33
10
28
13
30
13
31
12
27
14
1,281
292
16
78
1,105
285
14
76
1,232
314
16
105
1,288
368
15
76
1,328
410
13
74
1,125
385
23
89
1,146
344
12
75
1,210
296
20
72
1,196
279
12
72
1,358
278
16
73
1,237
265
20
78
1,215
229
16
65
1,266
r
235
11
81
1,099
242
300.3
296.2
291.7
272.5
264.1
261.6
272.1
273.5
267.6
284.4
309.8
319.0
287.2
276.8
1.191
1.164
1.065
1.025
1.064
1.120
1.150
1.159
1.140
1.197
1.134
1.222
1.226
1.162
30.5
15.6
13.9
12.5
10.9
10.2
12.6
25.0
294
1,785
207
2,360
558
422
1090
43.7
39.1
9.9
r
(2)
1,622
325
1,681
327
1,702
254
1,430
330
1,324
348
1,751
551
1,217
258
1,757
444
1,773
454
1,385
421
1,272
230
1.430
1.430
1.430
1.430
1.430
1.430
1.430
1.430
1.430
1.430
(2)
r
340
r
319
r
292
r
280
r
294
r
298
r
330
r
358
r
378
r
371
r
367
r
362
P
311
S-23
SURVEY OF CURRENT BUSINESS
March 1986
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
,, .,
units
Annual
1984
1986
1985
1985
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FOOD AND KINDRED PRODUCTS; TOBACCO—Cont.
MISCELLANEOUS FOOD PRODUCTS— Cont.
Sugar:
Exports, raw and refined
sh. tons ..
Imports, raw and refined
thous. sh. tons ..
Producer Price Indexes:
Raw (cane)
1967 = 100..
Refined
12/77 = 100 ..
Tea, imports..
thous Ib
TOBACCO
Leaf:
Production (crop estimate)
mil. Ib..
Stocks, dealers' and manufacturers',
end of period . .
do
Exports incl scrap and stems
thous Ib
/mports incl scrap and stems
do
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
millions
Taxable
do
Cigars (large), taxable
do
Exports, cigarettes
do ....
308,300
2,947
375,782
2,423
26,752
249
'38,169
202
26,654
282
32,259
154
20,406
239
33,364
238
36,548
51
53,010
190
35,873
235
27,731
100
24,687
270
20,329
212
60,948
174
312.0
173.5
194 565
291.2
165.6
174 617
297.8
168.9
16238
293.7
166.1
13 856
298.0
166.2
15491
298.6
166.1
13342
301.9
167.0
15337
304.2
166.7
15 054
302.5
166.1
15586
296.3
165.2
12745
288.5
165.1
14942
r
273.3
163.8
14878
267.0
163.0
13656
272.6
162.9
13493
283.2
165.7
16,923
1
1
1,728
288.1
165.2
1,547
5444
528 451
409 102
5293
538 648
430 273
34611
32310
48495
42942
5259
48037
27000
54 102
32710
15800
34409
4997
14230
33772
20374
34845
39 168
46941
5 151
41 104
33624
48 052
30312
85 377
47782
5293
89299
33625
21,580
32,507
67 112
597 893
2,961
56,517
66491
594 922
2739
58,948
5594
44,503
212
5,454
5265
46,297
179
r
5,312
5728
54810
215
5,658
4,130
45,782
214
2,994
5,250
49,339
259
3,575
4600
57,583
266
2,766
4682
42,073
196
3,999
6 151
50092
255
7,309
6342
36,012
261
5,524
7305
70,606
250
4,724
r
5760
49853
230
6,242
5684
47972
202
5,391
4,142
8,085
351 7
12,310
r
3549
12,452
3596
7,824
3637
12,032
3684
LEATHER AND PRODUCTS
LEATHER
Exports:
Upper and lining leather
thous. sq. ft..
Producer Price Index leather
1967 — 100
LEATHER MANUFACTURES
Footwear:
Production, total A
thous pairs
Shoes, sandals, and play shoes,
except athletic
thous pairs
Slippers
do
Athletic . . . .
d o
Other footwear
do
Exports
do
Producer Price Indexes:
Men's leather upper, dress and casual
12/80=100..
Women's leather upper
1967 — 100
Women's plastic upper
12/80-100..
163,373
3723
131,505
3532
10,266
358 1
8,855
3525
11,049
3485
11,637
3503
12,112
3505
16,233
3492
9,919
3488
10,763
3504
r
301 398
265 928
22,600
21,111
22,245
22,264
24,948
21,187
19,759
24,620
22,489
r
24,863
21 127
18,715
233 392
54026
13,980
4,918
6,240
205 894
52373
7,661
4,174
9,205
17323
4245
1,032
207
453
17005
3,488
618
274
r
470
17501
4022
722
287
r
806
17,102
4,499
663
336
698
18562
5,576
810
322
619
15445
5051
691
376
615
15 558
3766
435
287
639
18840
5118
662
411
994
17407
4627
455
441
1,174
19
160
r
5172
531
588
1,321
16 284
4289
554
336
806
15707
2520
488
309
611
611
107.9
2192
102.9
109.8
2235
104.0
105.3
2225
102.7
109.6
2222
103.9
109.7
221.5
1.01.8
109.7
2230
102.5
104.7
223.5
104.8
110.7
223.4
104.0
110.6
2237
102.7
110.8
224.4
104.7
111.6
2247
105.3
111.5
r
224.7
105.3
111.9
224.2
105.4
111.4
224.3
105.4
112.8
224.6
105.3
r
3676
112.2
224.6
105.6
LUMBER AND PRODUCTS
LUMBER—ALL TYPES #
National Forest Products Association:
Production total
mil bd ft
Hardwoods
do
Softwoods
do
Shipments total
do
Hardwoods
.
do
Softwoods
.. . 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
do
Sawed timber
do....
Boards planks scantlings etc
do
Producer Price Index, Douglas fir, dressed
1967 = 100..
See footnotes at end of tables.
r2
37 390
r2
6216
r2
2
37
164
2
6 474
30 690
2
36
887
2
6,322
2
30,565
2727
444
2283
2666
440
2,226
2718
480
2238
2602
468
2,134
3085
562
2523
3013
586
2,427
3296
556
2,740
3496
537
2,959
3256
541
2,715
3349
532
2,817
3,101
527
2,574
3,031
499
2,532
3,034
480
2,554
2,944
437
2,507
3,299
516
2,783
3,294
504
2,790
3,196
517
2,679
3,162
502
2,660
3,387
535
2,852
3,221
519
2,702
2,851
471
2,380
2,828
469
2,359
2,649
416
2,233
2,809
425
2,384
6 150
1,556
r
4,594
6632
1 913
4,719
6299
1766
4,533
6415
1 778
4,637
6488
1 755
4733
6282
1,774
4,508
6 198
1 783
4,415
6445
1,812
4,633
6535
1,855
4,680
6,555
1,868
4,687
6,603
1,904
4,699
6,770
1,920
4,850
6792
1,922
4,870
6632
1,913
4,719
13,615
14,191
967
1,203
1,212
420
1,431
1,445
1,318
1,308
1,307
1,395
1,146
1,039
8296
561
8,329
8,409
914
543
150
393
7592
528
7,620
7,625
909
486
127
358
612
561
622
612
924
40
16
24
565
567
593
559
958
36
9
27
649
580
647
636
969
44
9
35
710
587
664
703
930
52
17
35
665
563
618
689
859
39
16
23
612
555
624
620
863
43
8
34
568
555
602
568
897
42
17
25
596
495
642
656
883
38
6
32
734
563
683
666
900
36
8
28
659
538
744
684
960
37
6
31
654
575
618
617
961
40
8
32
568
528
563
615
909
39
7
32
670
558
666
640
935
328.0
336.6
332.9
341.5
353.1
345.0
358.9
386.6
379.4
343.3
'313.7
299.2
283.8
302.1
316.1
31,174
r2
37,180
r2
5,994
r2
31,186
r
2
304.3
S-24
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
1T
Annual
.,
1984
March 1986
1986
1985
1985
Jan.
Feb.
Mar.
Apr.
May
July
June
Nov.
Oct.
Sept.
Aug.
Jan.
Dec.
Feb.
LUMBER AND PRODUCTS—Continued
SOFTWOODS— Continued
Southern pine:
Orders, new.
mil bd ft rl 10 342
Orders, unfilled, end of period
do....
'561
n 10 674
Production . . . .
do
n
10
574
Shipments
do
Stocks (gross), mill and concentration yards,
end of period
mil bd ft
1808
Exports, total sawmill products.. . thous bd ft
184 793
Producer Price Index, southern pine,
3198
dressed
1967 — 100
Western pine:
Orders, new
mil bd ft
9011
Orders, unfilled, end of period
do
407
Production . . . .
do
8992
Shipments
..
do
9014
1257
Stocks (gross), mill, end of period
do
Producer Price Index, other softwood,
dressed
1967 = 100..
385.5
HARDWOOD FLOORING
Oak:
Orders, unfilled, end of period ..
mil bd ft
73
Shipments
do....
109.6
Stocks (gross), mill, end of period
do....
5.7
1 10 630
595
1 10 651
1 10 596
750
574
769
739
790
598
783
766
818
534
890
881
1863
169 925
1841
19648
1858
8790
1867
11239
1723
18594
1732
17071
1818
11 180
3006
303 4
294 2
2958
292 4
3264
347 0
9 173
433
9 185
9147
1295
648
408
641
647
1251
584
406
623
586
1288
673
413
726
666
1348
878
464
822
827
1343
832
508
111
788
1332
798
499
783
807
1308
763
503
759
759
1308
892
456
921
939
1 290
378.8
377.3
380.4
379.0
373.6
376.4
395.6
391.7
382.1
55
121.8
6.2
74
9.5
5.1
69
8.7
5.4
5.6
10.0
5.5
63
9.8
6.0
53
99
6.6
56
105
7.3
1 130
'530
992
1 130
1 028
693
1 039
1 039
644
528
894
814
958
640
920
892
895
618
895
913
924
628
944
915
719
581
783
766
829
595
761
791
1 829
11 865
1868
15477
1846
14450
1876
15166
1893
16609
1863
9836
321 1
297 1
r
r
279 6
279 6
2876
734
446
733
729
1 332
724
433
700
737
1 295
747
485
743
695
1343
371.9
370.8
373.0
958
577
920
909
288 0
283 4
831
460
834
827
1297
816
441
866
835
1328
376.2
'371.5
r
50
99
6.9
46
11 1
6.1
41
11.0
6.0
40
124
6.1
42
102
6.0
55
87
6.2
58
11.1
4.7
81
856
1
101
1,267
2
63
669
1
77
765
1
73
984
2
81
868
1
1,320
2539
41
47
1303
1,700
2,147
39
20
41
33
74
22
1,748
2875
371.5
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
thous sh tons ..
Scrap
. do....
Pig iron
do
Imports:
Steel mill products
do
Scrap
..do....
Pig iron
do
Iron and Steel Scrap
Production
thous sh tons
Receipts net
do
Consumption
do ..
Stocks end of period
do
Prices, steel scrap, No. 1 heavy melting:
Composite
$ per Ig ton
Pittsburgh district
do
Ore
Iron ore (operations in all U.S. districts):
Mine production
thous Ig tons
Shipments from mines
do
Imports
do
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel
plants
do
Consumption at iron and steel
980
9,498
57
932
9,935
32
66
683
1
73
697
2
77
756
4
26171
24,279
611
344
2,663
38
62
2,050
50
26
2,034
60
21
1,915
5
2 403
3
3,025
3
5,710
3
4 941
2349
3237
5,640
4875
2639
3754
6,382
4988
577
702
;
36 128 3 30 455
1
29 524 43 38 816
1
65 702 70,491
3
71
813
1
85
694
13
83
885
1
1,961
61
1
2,362
66
33
1,577
42
34
2,029
40
22
2634
3670
6,216
5112
2665
3437
6,208
5222
2476
3,054
5,779
5772
2488
3014
5,594
5599
2629
3,163
5,782
5584
2571
3212
5,817
5556
2704
3400
6,215
5498
r
2582
r
2,934
r
5,751
r
5257
2377
2782
5,372
5086
59
23
8169
9238
7151
7754
7644
8550
7778
8700
8014
92.00
78.30
85.00
7098
74.50
6509
69.50
66 15
72.50
70.51
77.00
70.89
75.00
69.42
73.50
66.25
69.50
6621
69.50
51269
50 883
17 160
48386
48038
15965
2535
607
1066
3077
1 046
568
4634
1065
956
4894
4197
982
5711
5792
5258
5828
1,326
2974
5,037
1,337
4,925
5,819
1,679
4,102
5,234
3,005
4,229
5,536
1,320
3,718
4,958
1,589
2,329
2,919
1,265
1 520
1 999
2521
5,085
7352
6,741
6,858
7,139
6,312
5,762
5,620
5031
5643
1 697
27966
13410
13,144
1,412
6046
545
29011
13328
14,406
1,277
5410
5,186
1,163
30,727
9,850
19,087
1,790
4,914
669
29788
12796
15,746
5235
586
29567
10,737
17,248
1,582
811
31,216
8,790
20,419
2,007
5,094
366
30,576
7,759
21,029
1,788
5,083
509
29,879
6,548
21,527
1,804
5,085
514
29,389
5,968
21,017
2,404
97
50
66
3,999
4,115
'236
97.2
3,930
3,976
244
97.1
4,297
4,002
97.6
97.9
r
707
r
630
354
64 881
872
5009
275
30411
7 115
20473
2,823
28924
9 146
17254
2,524
5922
1
25052
12714
13780
1,558
do....
535
801
43
66
81
130
35
63
80
53
41
61
tons..
1
51,904
1
4,684
4756
297
99.1
4,553
4,554
283
99.9
4,301
4,241
4,114
4,333
4,110
4,334
304
3,897
3946
313
98.9
4,512
4,563
Stocks end of period
do
Producer Price Index basic
6/82—100 .,
Castings, gray and ductile iron:
Orders, unfilled, for sale, end of period
thous sh tons
3,969
43 257
323
100.1
99.8
96.9
98.3
3,883
4,122
276
97.5
4,060
4,275
246
97.5
For sale
do
Castings, malleable iron:
Orders, unfilled, for sale, end of period
thous sh tons
For sale
See footnotes at end of tables.
do
49
24
5 086
63658
7 135
29389
5968
21017
2404
do
do
do
do
do .
1
5261
65990
4993
32146
5187
24017
2942
Exports (domestic)
Stocks total end of period
At mines
At furnace yards
At U S docks
Manganese (manganese content),
general imports
Pig Iron and Iron Products
Pig iron:
Production (including production of
ferroalloys)
thous. sh.
87
(2)
1,246
100.3
50,012
513 450
244
98.4
10 520
6247
9750
6050
842
510
775
457
879
530
929
574
894
578
829
535
792
531
817
545
760
462
896
545
380
180
378
187
34
17
32
16
37
19
35
18
35
17
33
16
26
10
28
14
29
14
33
19
52 097
4
3
275
98.6
296
289
292
r
429
r
30
14
26
13
1,292
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
S-25
SURVEY OF CURRENT BUSINESS
March 1986
.,
umis
1986
1985
Annual
|T
1984
1985
Jan.
Apr.
Mar.
Feb.
May
June
Aug.
July
Jan.
Dec.
Nov.
Oct.
Sept.
Feb.
METALS AND MANUFACTURES—Continued
Steel, Raw and Semifinished
Steel (raw):
Production
thous sh tons
Rate of capability utilization
percent
Steel castings:
Orders, unfilled, for sale, end of period
thous sh tons
Shipments, total
do
For sale, total
do
Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous. sh, tons..
By product:
Semifinished products
do
Structural shapes (heavy),
steel piling
do
Plates
do
Rails and accessories
do
Bars and tool steel total
do
Bars: Hot rolled (including
light shapes)
do ....
Bars' Reinforcing
do
Bars' Cold finished
do
Pipe and tubing
.
do
Wire and wire products
do
Tin mill products
do
Sheets and strip (including electrical),
total
do
Sheets' Hot rolled
do
Sheets' Cold rolled
do
By market (quarterly):
Service centers and distributors
do
Construction incl maintenance
do
Contractors' products
. ..
do
Automotive
do
Rail transportation
do
Machinery, industrial equip., tools
do....
Containers, packaging, ship,
materials
do
Other
do
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 tons
Consumers (manufacturers only):
Inventory, end of period
do....
Receipts during period
do
Consumption during period
do....
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. met. tons ..
Recovery from scrap f
•
do
Imports (general):
Metal and alloys crude . . .
do
Plates sheets bars etc
do
Exports:
Metal and alloys crude
do
Plates sheets bars etc
do
Price, U.S. market, 99.7% purity,
monthly average
$ per lb..
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.)
mil. lb..
Mill products total
do
Sheet and plate
do .
Castings
...do...,
Inventories, total (ingot, mill products, and
scrap) end of period
mil lb
Copper:
Production:
Mine, recoverable copper
thous. met. tons..
1
1
92,528
68.4
87,290
65.3
6,984
60.9
6,851
66.1
8,269
72.1
7,872
71.6
7,830
68.9
7,292
66.3
7,010
62.1
7,130
63.2
6,924
63.4
7,351
65.2
7,051
64.7
6,728
59.7
940
862
890
837
80
76
82
76
86
80
85
79
84
79
74
68
62
58
66
63
70
67
70
65
r
70
'68
61
58
5,598
6,344
6,425
6,519
6,125
5,053
6,064
5,848
6,308
5,654
5,821
6,437
4,350
315
357
438
374
407
361
282
362
362
381
354
333
695
1
4,156
4,843
1
4,313
4,339
1,239
888
1
13,232 "12,231
379
339
97
1,038
300
328
87
998
389
410
93
1,069
221
419
96
1,129
403
421
90
1,094
398
381
83
993
321
231
63
777
425
339
57
990
418
326
54
988
440
351
56
1,078
373
328
54
941
384
338
63
862
448
334
73
1,128
592
323
118
306
96
317
586
299
107
286
91
300
563
383
117
338
112
312
395
418
111
381
113
308
567
411
111
344
105
326
509
380
99
359
99
330
355
353
69
279
91
321
492
398
95
406
96
343
530
356
98
334
91
314
559
405
109
364
100
295
509
336
92
325
77
268
452
321
87
307
66
340
632
369
122
324
93
301
3,130
1,032
1,185
2,852
966
1,091
3,184
1,105
1,176
3,232
1,139
1,190
3,328
1,187
1,208
3,122
1,087
1,132
2,690
942
1,000
3,045
1,108
1,067
2,962
1,018
1,057
3,243
1,110
1,202
2,902
1,001
1,051
3,129
1,167
1,129
3,341
1,149
1,207
73,739
1
72,698
4,407
1
1
7,255
1
'6,466
1
4,444
1,261
4,096
1,136
3,772
4,432
1,484
4,276
1,222
1
4,062
36,806
13,133
13,664
1
:
37,069
12,952
13,574
17,234
6,052
2,563
12,554
1,036
2,737
1
4,337
26,500
1
6,017
17,548
6,407
2,663
12,725
1,059
2,129
4 168
1,498
604
3,458
273
588
4572
1,695
688
3,360
316
555
4229
1,659
692
2,934
206
498
4,586
1,556
676
2,960
209
488
1,581
550
2
225
1,144
89
192
4,069
26,098
968
6,403
1,072
6,811
1,088
6,314
942
6,366
319
2,335
26.1
26.2
25.5
25.5
25.3
25.3
7.6
6.0
7.5
6.0
7.5
6.0
7.5
5.7
7.7
6.0
7.7
6.0
7.6
6.0
7.4
6.2
7.5
6.1
7.3
6.2
7.3
6.0
7.2
5.9
7.1
6.1
7.5
6.0
6.0
5.8
5.9
5.9
5.9
6.0
6.0
6.0
6.1
6.0
5.8
5.7
5.6
5.8
6.4
4.1
4.1
6.6
4.2
4.0
6.5
3.7
3.8
6.7
3.9
3.7
6.6
3.7
3.8
6.5
4.3
4.4
6.5
" 4.2
4.2
6.5
3.6
3.6
6.6
3.2
3.1
280
149
285
166
265
139
271
135
25.6
25.9
26.0
26.1
26.4
26.1
25.6
25.9
6.0
45.3
44.7
6.6
45.9
45.3
6.1
3.5
3.4
6.4
3.7
3.4
6.4
3.8
3.8
4,099
1,760
3,499
1,728
329
134
289
135
312
147
295
147
304
146
288
143
292
145
289
142
975.3
499.8
960.9
469.1
75.6
43.4
62.7
35.5
88.9
44.0
73.2
36.8
80.4
47.7
84.8
35.9
75.9
34.7
80.4
34.9
103.4
45.8
95.0
37.7
76.7
35.1
64.0
37.7
90.5
81.6
286.2
224.4
379.9
189.9
43.9
18.6
34.6
14.7
24.9
17.0
31.0
17.5
32.8
14.7
58.8
16.2
41.8
12.4
27.4
18.3
29.6
14.1
21.4
16.9
20.5
16.8
13.1
12.8
24.1
20.2
.6105
.4785
.5007
.5129
.5119
.5196
.5200
.4794
.4686
.4753
.4634
.4573
.4508
.4998
.5525
14,561
11,030
6,333
r
2,184
14,258
11,070
6,436
2,212
1,132
878
490
'202
1,097
868
500
186
1,254
980
573
196
1,209
970
562
193
1,287
983
583
195
1,191
933
548
186
1,195
934
552
157
1,222
965
572
183
1,258
918
535
178
1,267
976
554
199
1,121
852
484
173
1,026
812
485
163
1,130
5,850
5,189
5,759
5,678
5,657
5,600
5,647
5,596
5,575
5,488
5,438
5,337
5,245
5,189
91.6
100.7
93.1
7.6
24.4
85.9
90.8
84.3
6.5
22.9
99.1
104.1
98.5
5.6
25.1
92.5
100.2
93.0
7.2
29.2
95.7
107.1
100.1
7.1
25.8
88.9
85.9
79.4
6.5
26.8
89.6
97.0
88.5
8.6
29.6
86.3
86.8
81.7
5.1
26.3
80.7
96.2
90.4
5.8
24.1
93.1
92.0
86.1
5.9
27.3
483.2
390.7
58.1
46.7
28.7
21.8
40.5
31.8
28.1
22.3
33.5
26.8
51.1
41.5
34.2
27.2
31.1
25.7
41.5
34.6
29.7
22.0
50.2
40.4
56.4
49.9
59.6
51.9
438.2
43.9
27.7
2.0
33.1
3.3
34.0
7.7
40.1
3.7
27.6
1.3
45.9
3.9
51.8
5.7
42.3
6.3
37.6
1.0
37.2
1.3
35.4
.9
25.5
1.1
49.4
1.3
172
528
172
476
175
450
174
413
166
367
159
357
134
365
158
354
167
332
178
303
.6449
.6645
.6555
.7032
.6986
.6709
.6677
.6635
.6572
.6668
1
1,091.3
1
1 200 2
F
H rnestic ores
do
' 1,084.3
F
f
do
115.9
3095
Refined from scrap A
do
Imports, unmanufactured (general):
Refined, unrefined,
652.7
scrap (copper cont )
...do....
521.3
Refined
do....
Exports:
360.7
Refined and scrap
• • -do . .
93.9
Refined
• ...do...
Consumption, refined
2,036
(reported by mills etc ) 0
do
556
Stocks, refined, end 'of period <j>
do....
Price, avg. U.S. producer cathode, delivered §
.6685
$ per lb .
See footnotes at end of tables.
1
7,665
69.4
7,171
71.8
S-26
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
SURVEY OF CURRENT BUSINESS
Annual
,, .
umis
1984
March 1986
1986
1985
Jan.
1985
Feb.
Mar.
Apr.
May
June
July
Sept.
Aug.
Nov.
Oct.
Jan.
Dec.
Feb.
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND
PRODUCTS— Continued
Copper-base mill and foundry products,
shipments (quarterly total):
Brass mill products
mil Ib
Copper wire mill products
(copper content)
do
Brass and bronze foundry products
do ....
Lead:
Production:
Mine recoverable lead
thous met tons
Recovered from scrap (lead cont.)
do
Imports (general), ore (lead content),
metal
do
Consumption, total . .
do
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content) ABMS
thous met tons .
Refiners' (primary), refined and antimonial
(lead content)
thous met tons
Consumers' (lead content) {>
do....
Scrap (lead-base, purchased), all smelters
(gross weight)
thous met tons
Price, common grade, delivered
$ per Ib..
Tin:
Imports (for consumption):
Ore (tin content)
metric tons
Metal unwrought unalloyed
do
Recovery from scrap, total (tin cont.)
do....
Consumption total
Primary
Exports, incl. reexports (metal)
Stocks, pig (industrial), end of
do
do
do....
Price, Straits quality (delivered)
$ per Ib..
Zinc:
Mine prod., recoverable zinc
thous. met. tons..
Imports (general):
Ores (zinc content)
do
Metal (slab, blocks)
do....
Consumption (recoverable zinc content):
Ores
do
Scrap all types
do
Slab zinc: @
Production, total $
thous. met. tons ..
Consumption fabricators
do
Exports
do
* Stocks, end of period:
Producers', at smelter (ABMS)
do....
Consumers'
do
Price, Prime Western
$ per Ib..
MACHINERY AND EQUIPMENT
Heating, combustion, atmosphere equipment, new
Fl t '
' ' Vi t
t
H
Fuel-fired processing heating equip
do
Material handling equipment (industrial):
Shipments *
do
Industrial supplies, machinery and equipment:
New orders index, seas, adjusted
1977 = 100 ..
Industrial suppliers distribution:
Sales index seas adjusted
1977 — 100
Inflation index, not seas. adj. (tools, material
handling equip., valves, fittings, abrasives,
fasteners metal products etc )
1977 100
Fluid power products shipments indexes:
Hydraulic products §
1972 — 100
Pneumatic products §
do
Machine tools:
Metal cutting type tools:
Orders new (net) total
mil $
Domestic
do
Shipments total
•
do...
Domestic
do
Order backlog, end of period
do...
Metal forming type tools:
Orders new (net) total
do
Domestic
do
Shipments total
do
Domestic
do .
s>
P
See footnotes at end of tables.
2,717
2,363
635
617
562
549
2,138
^572
1,869
563
465
149
475
158
459
128
472
128
321.9
582.8
409.4
531.8
31.4
41.6
32.9
31.4
37.2
46.4
38.8
43.9
36.7
44.7
32.1
34.9
34.1
41.1
34.4
45.5
30.4
50.8
36.5
53.9
56.5
1,130.2
8.3
87.3
4.9
101.5
6.0
100.7
5.0
90.1
4.1
86.0
3.0
77.0
7.9
67.8
5.6
101.8
2.0
100.4
61.3
97.9
85.1
78.2
77.9
78.2
66.0
75.6
76.6
70.1
47.7
97.1
83.9
61.9
46.2
67.1
56.5
68.7
74.3
68.6
84.1
71.9
98.5
71.8
118.0
70.7
112.9
68.1
106.6
66.1
103.0
63.3
20.9
.2555
22.0
.1907
20.3
.1909
17.8
.1882
17.6
.1768
21.8
.1992
22.6
.2011
21.1
.1905
22.9
.1888
26.5
.1910
3,273
41,241
11,446
2,202
50,400
38,700
3,184
33,831
9,229
4
1,176
51,500
38,800
2,875
294
3,261
794
143
4,000
3,100
199
22
1,526
839
132
3,900
2,900
229
1,119
2,938
536
46
2,352
533
4,600
3,500
194
4,500
3,400
245
53
3,915
847
172
4,600
3,500
303
10
3,145
785
145
4,400
3,300
217
1
1,566
799
168
4,200
3,200
242
2,746
916
156
4,400
3,300
101
2,592
6.2380
5,665
5
5.9595
2,766
5.7367
2,283
5.6262
2,407
5.6568
2,228
5.9156
2,853
5.8861
3,042
6.0403
2,762
6.2631
1
80.3
1,207.0
;
1
107.9
7
95.6
632.5
91.4
568.7
681
2514
1
rl
290.0
848 9
.8
301.0
43.7
;
72.5
.4860
35.6
254.2
108.6
145.5
.7
.3713
120.6
119.9
158.8
162.9
3.1
'90.7
2.2
82.3
70.1
68.8
61.3
92.5
62.8
81.7
r
65.2
83.9
61.9
27.3
.1920
23.8
.1893
21.3
.1905
22.0
.1897
44
3,572
752
22
2,651
873
4,300
3,200
193
4,500
3,400
341
22
2,805
r
811
148
r
4,200
3,100
278
3,354
744
112
3,900
2,900
333
2,663
6.2649
2,985
6.1007
4,121
6.1046
'4,913
5,665
17.8
18.9
18.8
13.9
14.2
14.8
19.1
16.3
18.7
42.5
3.7
39.7
4.3
53.2
1.1
40.9
12.1
69.5
1.2
45.8
3.1
41.3
10.5
52.3
13.7
.4
13.0
64.2
5.7
21.8
5.3
21.4
5.6
20.3
5.5
21.4
4.1
21.1
2.9
21.6
2.7
20.5
3.5
20.6
4.5
20.3
3.7
20.8
2.5
21.0
28.0
65.3
.1
25.8
64.4
.3
30.2
62.8
(2)
25.6
61.0
(2)
24.4
66.0
(2)
19.3
59.0
(2)
21.4
52.6
(2)
24.4
55.9
(2)
24.8
56.8
(2)
27.8
58.9
(2)
43.6
54.3
.4294
41.7
55.2
.4265
34.3
58.0
.4320
32.3
59.4
.4488
32.0
54.5
.4512
32.1
48.3
.4373
32.3
55.8
.4144
34.3
52.4
.3984
36.2
48.4
.3786
32.4
49.0
.3576
1098
268
49 1
355.4
144.3
4.5
106.3
4.1
52.3
239.5
'1 100.0
139.5
141.7
32.6
43.4
23.6
1
42461
32.1
54.2
21.8
19.7
252.8
r
118.4
142.1
345.6
116.4
381.7
118.4
145.0
140.0
162.0
162.4
369.6
118.6
147.1
253.2
121.8
151.1
400.8
125.5
143.0
371.2
125.5
142.3
372.5
120.3
151.1
272
24.6
55.8
(2)
24.6
25.6
33.9
50.7
.3336
35.6
.1
.2
30.5
.3361
567
22.4
34.3
370.8
119.5
144.3
119.6
146.4
118.5
145.2
162.9
163.0
163.5
163.6
163.3
163.4
163.4
162.9
256
r
283
264
274
250
270
273
296
282
294
259
290
249
271
231
257
246
283
246
265
264
293
241
279
1,915.80
1,699.55
1,606.50
1,483.85
1,132.4
1,853.10
1,652.15
1,742.25
1,548.50
1,243.3
137.75
124.75
89.75
80.60
1,180.4
163.75
148.05
108.30
98.95
1,235.9
227.00
202.70
159.00
140.35
1,303.9
122.10
112.85
103.15
98.15
1,322.8
170.75
157.35
118.85
110.00
1,374.8
182.85
159.95
163.00
149.40
1,394,6
149.85
114.85
125.05
111.30
1,419.4
130.80
115.70
143.05
137.20
1,407.2
124.10
108.25
174.95
158.60
1,356.3
156.00
134.95
129.90
114.05
1,382.4
171.55
162.70
139.40
126.35
1,414.6
1,000.00
931.50
679.35
608.75
542.2
1
675.00
1
610.00
1
802.95
1
73.70
71.15
48.05
45.95
567.8
73.75
69.55
57.95
52.70
583.7
52.30
47.05
68.65
64.20
567.3
61.40
57.30
66.60
63.65
562.1
51.95
46.45
58.45
53.80
555.6
52.35
48.55
76.00
73.35
532.0
50.00
43.05
69.75
63.25
512.2
53.70
46.90
72.85
63.85
493.0
50.00
36.60
69.00
62.20
474.0
73.85
69.25
69.40
64.60
478.5
23.55
20.95
59.75
52.90
442.3
742.95
414.2
2,523
10.9
74.0
269
270
161.6
61.6
5.8
66.5
55.5
247
30.8
85.0
25.3
26 1
6.3
115.9
134.2
162.9
r
262
r
325
118.3
146.7
163.4
226
248
116.60 "135.00
110.05 "124.75
287.85
"91.30
223.55
"73.85
1,243.3 "1,287.0
58.45
53.20
86.50
82.50
414.2
"53.65
"48.25
"54.40
"50.75
"413.5
144.3
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
S-27
SURVEY OF CURRENT BUSINESS
March 1986
.. .
units
1984
1986
1985
Annual
1985
Jan.
Mar.
Feb.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Feb.
Jan.
METALS AND MANUFACTURES—Continued
MACHINERY AND
EQUIPMENT— Continued
Tractors used in construction, shipments, qtrly:
Tracklaying (ex. shovel loaders)
units.,
mil $
Wheel (contractors' off-highway)
units
mil $
Shovel loaders i
units
mil. $ ..
ELECTRICAL EQUIPMENT
Batteries (auto.-type replacement),
shipments
thous
Radio sets, production, total market..
thous,.
Television sets (incl. combination models),
production, total market
thous
Household major appliances (electrical), factory
shipments (domestic and export) #
thous..
Air conditioners (room)
do....
Dishwashers
do
Disposers (food waste)
do .
Microwave ovens/ranges @
do .
Ranges
do....
Refrigerators
do
Freezers
do
Washers
do . .
Dryers (incl. gas)
do....
Vacuum cleaners (qtrly )
do
GAS EQUIPMENT (RESIDENTIAL)
Furnaces warm air, shipments
..
thous .
Ranges total, sales
do .
Water heaters (storage), automatic,
sales
do....
8,917
7854
5602
421 9
45622
1,791.9
59332
46420
22210
2,097
1678
1 607
1153
9832
3679
r
5359
3,243
6 156
'4650
6735
3282
5,634
3,179
6,487
'2,256
4,776
1 611
'2137
1 641
1,999
'2,235
1687
3,318
171
307
293
728
261
668
149
422
298
3,211
68
285
348
838
266
537
131
425
298
3^390
49
313
387
852
279
559
108
476
360
3,672
24
357
364
1,004
311
559
100
528
420
3,459
39
298
334
1,276
270
434
66
405
340
2,984
113
254
305
871
255
335
70
341
284
3,594
131
316
384
1,087
265
448
90
490
375
131
174
128
109
182
163
196
185
220
185
181
163
170
158
270
288
274
273
334
288
308
371
250
615.5
321
164
622.9
328
55
622.9
306
8
623.3
80,117
69,288
70,010
74,218
54,884
54,228
159 491
156,849
8,492
540.4
7,969
537.6
7,162
536.5
5,922
537.6
58684
40 606
4593
3961
4545
3 111
3855
'4543
3495
2859
3741
3229
4011
'3410
20525
1 220
1 588
1
2 180
1471
1481
'1 970
3,392
209
295
377
858
257
437
110
451
360
2949
277
259
353
598
217
357
73
416
324
3,888
530
284
356
1,120
241
448
86
425
290
3,509
524
276
275
827
251
472
90
412
286
4,182
632
286
360
1,056
260
564
112
468
307
3,830
416
322
355
855
270
648
136
462
319
148
128
114
130
126
164
112
125
115
143
319
284
286
324
278
39446
3,103
3491
4087
9,132
3,074
5994
1,281
5,049
3,684
41,797
3,022
3575
4,105
10,883
3,142
6080
1,236
5,278
3,914
1 849
1,732
1822
1,828
3,502
3,529
r
1,823
155 1
1 447
101 9
12357
448 1
2,095
175 3
1817
1304
14 012
487 1
4073
2885
992
1616
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
4,162
Production t
thous. sh. tons .
680
Exports
do. .
611.3
Producer Price Index
1967 — 100 ..
Bituminous:
Production f
thous. sh. tons . 891,759
788,203
Consumption, total
do
Electric power utilities
do. .. 663,329
117214
Industrial total
do
Coke plants (oven and beehive)
do
43987
7 660
d f ' d t t l
190410
Fl t '
t'l'f
H
173 017
17393
Industrial total
do
6 158
Oven-coke plants
do
80,792
Exports
do ....
543.5
Producer Price Index
1967-100 ..
COKE
Production:
Beehive and oven (byproduct)
thous. sh. tons ..
30,561
32131
Petroleum coke §
do
Stocks, end of period:
3,716
Oven-coke plants total
.
do
3,363
At furnace plants
.. do
353
At merchant plants
do
968
Petroleum coke
do
1
130
Exports
do
PETROLEUM AND PRODUCTS
Crude petroleum:
669.8
Producer Price Index
1967 — 100 ..
Gross input to crude oil distillation
4,471.0
units
mil fobl
76
Refinery operating ratio
% of capacity
All oils, supply, demand, and stocks:
5851 7
New supply total {}
mil bbl
Production:
32497
Crude petroleum
do
613 1
Imports:
13688
T? F d
d t
do
6202
102.6
Change in stocks all oils
do
Product demand total
•• • • • do.. . "6,018.7
Exports:
66.2
Crude petroleum
• do
196.9
Refined products
• ••
••• olo....
See footnotes at end of tables.
3,907
1,286
616.3
282
15
615.0
279
22
615.0
329
62
615.0
249
69
614.9
335
168
614.9
420
128
614.8
338
64
614.8
340
168
614.8
316
119
615.2
882,189
91,361
544.2
67,977
74,689
63,541
10471
3461
677
176 728
160 805
15923
5575
5,801
544.8
67,041
65,633
55,393
9648
3280
592
170 192
155 740
14452
4992
6,008
546.4
77,659
64,674
54,612
9,640
3,508
422
172 513
159 531
12982
4409
6,634
545.6
76,535
61,634
50,762
10,234
3,849
638
177 903
164 815
13088
4466
6,989
544.5
78,240
64,690
54,425
9881
3,776
385
180 485
167 293
13 192
4522
9,059
545.1
73,017
66,790
57,373
9114
3,282
305
181 261
167*963
13298
4579
7,781
544.3
69,010
73,960
64,182
9,322
3,434
456
172 064
158 865
13200
4 164
7,247
546.7
79,478
72,895
62,999
9,465
3,417
431
168 829
155'727
13101
3749
10,245
547.0
73,818
66,451
56,706
9,173
3,358
572
168 756
155 753
13003
3334
7,975
545.6
33046
2449
2 188
7,211
2486
2566
2722
7,601
2914
2,953
2970
7,150
2,684
2942
2,899
3,271
959
98
1030
34
3,471
3,077
393
1,086
28
1,645
32
1,111
215
3,279
2,883
396
1,100
115
1,056
62
3,217
2,831
386
950
162
1,064
101
1,050
128
1,232
87
52
619.3
631.2
615.1
615.5
617.6
620.9
620.1
618.9
614.1
615.5
618.5
621.1
623.4
620.2
4 443.8
78
3592
75
321.6
356.7
74
74
359.0
76
381.4
78
374.1
79
394.0
81
380.2
78
362.7
77
383.3
78
378.5
80
394.8
81
57088
4645
406.5
473.6
471.9
506.4
464.9
479.1
473.6
464.9
488.6
507.2
507.4
32558
612 1
2768
522
2500
468
276.7
51 5
265.3
492
278.0
51 1
268.9
497
276.0
506
275.8
528
266.2
494
277.2
51.7
268.0
52.9
276.8
543
13026
5383
-39.8
6,013.7
889
467
—464
524.9
678
419
-42.4
471.2
981
473
-8.1
496.4
1143
43.2
14.7
483.2
1288
48.5
33.5
501.1
1064
398
2.5
487.2
1125
40.0
4.6
501.9
1109
34.2
-22.1
520.4
106.4
43.0
7.3
477.6
113.1
46.7
-7.5
515.0
133.6
52.7
29.9
493.3
1219
54.3
-5.8
541.4
74.5
209.9
4.5
20.0
62
17.7
5.9
15.6
7.1
15.8
7.7
14.1
6.8
13.9
4.8
16.1
7.5
15.7
5.6
18.5
3.8
17.6
8.6
22.4
6.1
22.5
1232
1 179
986
117
r
r
r
623.9
534.3
494.5
S-28
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
Annual
,, ..
1984
March 1986
1986
1985
1985
Jan.
Mar.
Feb.
Apr.
May
June
July
Aug.
Jan.
Sept.
Oct.
Nov.
Dec.
4534
2000
26
776
288
35.7
4.1
192
465
14999
8059
4893
493 6
2152
32
909
31 5
38.4
4.7
166
549
14924
8037
4899
4623
2042
35
809
37 1
381
44
102
480
15223
811 0
491 5
5128
2102
78
1003
439
40.9
3.6
64
605
1 5164
812.0
4933
Feb.
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
All oils, supply, demand, and stocks— Continued
Domestic product demand total $ mil bbl
Gasoline
do
Kerosene..
.
do
Distillate fuel oil
do
Residual fuel oil
do
Jet fuel
do
Lubricants
do
Asphalt
do
Liquefied petroleum gases
do
Stocks end of period total
do
Crude petroleum
do
Strategic petroleum reserve
do
Unfinished oils, natural gasoline etc
do
Refined products
do
Refined petroleum products:
Gasoline (incl. aviation):
Production
do
Stocks end of period
do
Prices, regular grade (excl. aviation):
Producer Price Index
2/73 — 100
Retail, U.S. city average (BLS):
Leaded
$ per gal..
Unleaded
do ...
Aviation gasoline:
Production .
. .
mil bbl
Stocks end of period
do
Kerosene:
Production
do
Stocks end of period
.. .. do....
Producer Price Index (light
distillate)
1967 = 100..
Distillate fuel oil:
Production
mil bbl
Imports
. .
do
Stocks end of period
do
Producer Price Index (middle
distillate)
.1967 — 100
Residual fuel oil:
Production
mil bbl
Imports
. .
do
Stocks end of period
do
Producer Price Index
1967 — 100
Jet fuel:
Production
. ..
mil bbl
Stocks end of period
do
Lubricants:
Production
do
Stocks end of period
do
Asphalt:
Stocks end of period
Liquefied petroleum gases:
Production total
At gas processing plants
(L P G )
At refineries (L R G )
Stocks (at plants and refineries)
447 3
475 0
183 1
2062
51
27
924
951
376
389
31.8
348
4.3
45
43
73
524
484
14674 14593
7907
7856
4601
461 6
4604
208 8
28
830
340
36.6
4.7
106
418
14740
8067
464 9
479 3
218 9
23
806
389
34.9
4.6
14 6
418
15075
8283
4719
466 5
210 0
25
775
314
342
46
179
435
1 5100
8194
476 6
1516
5170
1554
511.9
1567
522.5
1545
536 1
1553
549.2
1466
541 1
1490
545.0
1500
538.7
1534
557.8
1487
555.8
165.7
192.6
1879
188.9
190.4
184.4
2032
183.6
2037
188.6
210.6
194.0
2122
1900
1903
189.5
1976
181.3
1951
1842
206.7
191.9
535 7
5393
5267
5136
506 1
5201
5204
4865
427.3
1.154
1.242
1.143
1.229
1.129
1.216
1.117
1.204
1.123
1.207
1.123
1.208
1.107
1.194
1.034
1.120
.7
22
.8
24
.5
21
3.7
9.5
3.8
10.3
4.5
7.7
795.6
748.9
57556
2 458 2
422
1 041 2
5012
4302
570
1495
5755
1 5562
7959
450 5
5729 2
24968
456
1 0436
4359
436.2
526
1534
5891
15164
8120
493 3
5004
197 0
77
1073
459
375
40
42
620
1 5098
7935
457 4
1398
6206
1487
5558
1438
5725
1439
537.9
2371 1
2079
23463
1919
1830
2004
2
481 0
497 2
2178
2254
22
31
760
820
323
355
371
364
43
50
21 1
210
449
444
1 514 6 14925
8101
8049
4835
487 1
5151
5070
4805
4584
4672
4939
5225
1.129
1.212
3
1.115
3
3
1.060
3
1.148
1.041
1.131
1.071
1.159
1.119
1.205
1.144
1.231
1.153
1.241
91
27
8.6
21
.4
26
.5
26
.7
25
.7
24
.6
23
.7
22
.9
23
1.1 )
23
-9
23
418
11.9
38.7
7.7
3.5
8.0
4.2
7.4
3.5
8.3
2.6
8.1
1.7
7.5
2.1
7.2
2.7
7.7
3.2
8.1
3.3
8.7
1.202
870.3
812.5
840.8
833.3
827.5
824.5
826.9
9812
994
161 1
978.6
72.5
1439
80.9
8.4
1418
69.8
4.2
121.5
69.6
4.8
99.4
74.2
7.3
97.1
82.8
6.3
104.7
880.5
821.5
835.7
810.3
809.9
820.3
851.0
3262
249.2
530
1 1196
3185
187.0
507
9901
30.7
18.4
468
1 1238
28.9
17.2
470
1,107.2
29.6
15.4
463
1,112.3
26.6
12.7
46.6
1,087.9
2
r
803.1
779.8
780.3
780.6
795.2
806.3
812.7
79.4
4.4
1100
82.0
2.9
115.5
80.2
3.1
1137
78.4
6.2
117 1
89.0
7.6
121.7
93.0
8.2
1393
98.4
9.0
1439
2
797.7
754.9
743.6
800.5
841.3
887.5
905.3
830.2
627.2
24.2
15.6
418
1,058.7
20.6
12.8
40.2
2
894.3
22.1
13.4
40.8
908.2
23.0
12.0
370
890.7
24.1
16.1
42.8
889.7
28 ^
15.8
49.6
r
884.0
27.7
18.7
506
885.7
32.7
19.0
50.7
955.2
877.7
756.5
34.6
422
33.4
424
36.0
42.6
35.7
416
35.3
42.1
37.9
422
38.5
429
38.0
40.2
4143
420
425.7
402
34.7
410
32.0
417
35.9
44 1
33.7
417
583
127
530
117
44
129
4.0
12.7
4.4
12.5
4.3
12.0
4.6
12.0
4.7
12.2
4.6
12.5
4.7
12.2
4.6
12.5
4.7
12.2
4.0
11.6
3.9
11.7
1413
172
1454
21 2
74
210
64
237
88
259
11.3
27.4
144
284
16 1
27.8
16.9
25.0
17.9
23.5
14.9
20.4
14.0
18.6
10.4
19.8
6.9
21.2
do
6209
6218
514
47 1
518
507
528
521
53.7
534
50.2
51.5
51.8
55.3
do
do
do....
4882
1327
100.8
4835
1383
72.7
420
94
86.4
37.6
95
77.0
41.1
107
77.4
39.1
11 6
80.8
40.7
121
87.6
39.4
127
92.7
39.8
13.9
96.1
40.4
130
99.2
38.5
11.7
96.7
40.6
10.9
88.3
41.3
10.5
84.3
43.1
12.2
72.7
do
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD
thous cords (128 cu ft )
Receipts
T
t
nd of neriod
WASTE PAPER
Consumption
i7 88 876 11 85 503
87 646 85,744
5046
5 574
do
thous sh tons..
Tl
7 481
7413
5552
7068
6,981
5453
7483
7,651
5256
7009
7,148
5136
6958
7,072
4952
6918
6,943
4,925
7003
7,022
4,881
7015
6,925
4,970
6913
6,904
4,958
7880
7,666
5,312
6,914
7,112
5,062
6,861
6,907
5,046
1,286
r
957
1,207
978
r
4,499
97
3,648
4,363
93
3,533
15 926
1053
1
15,290
978
1,355
1036
1,179
1,003
1,360
977
1,245
994
1,223
970
1,264
985
1,212
1,011
1,294
958
1,266
r
958
1,364
r
999
n 55 548
1206
r
44 732
1
54 081
1 177
43,585
4595
86
3,716
4373
118
3,502
4844
118
3,893
4394
104
3,506
4522
112
3,618
4456
97
3,584
4,492
87
3,626
4,518
77
3,666
4433
82
3,604
4,595
106
3,683
5509
4 100
5,260
4059
452
341
429
325
484
349
451
OOO
441
352
428
346
447
332
427
348
423
324
454
353
r
421
r
333
408
328
174
585
163
475
165
666
172
695
191
685
165
636
175
560
192
529
186
563
180
541
184
502
175
507
190
537
163
475
425
3 794
631
1
3,161
1
4,466
117
1
4,349
471
301
53
247
313
3
309
482
223
39
184
380
16
364
484
399
89
309
460
17
443
449
328
59
269
335
4
331
444
309
46
263
380
11
369
442
372
80
292
384
5
379
414
334
52
282
392
14
378
410
303
35
268
387
5
383
407
298
35
263
340
18
322
426
269
45
224
355
6
349
398
363
56
307
401
14
387
425
295
42
253
339
4
335
WOODPULP
Production:
iota
•
P
A h ' 1 iln
Groundwood and thermoC
•
f,
'
1
•
•
do
r
J
Inventories, end of period:
At pulp mills:
M
lr t
1
Market pulp at paper and board
mills
rwtpprts, ail ^ , ' . , , n
All other
Imports all grades total
Dissolving and special alpha
All other
See footnotes at end of tables
do
do....
j
. do ..
do
do ..
do .
484
3 694
595
1
2,999
1
4,490
146
1
4,343
7
1
r
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
S-29
SURVEY OF CURRENT BUSINESS
March 1986
IT .,
vnns
1984
1986
1985
Annual
1985
Jan.
Feb.
Mar.
Apr.
May
June
Aug.
July
Nov.
Oct.
Sept.
Jan.
Dec.
Feb.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS
Paper and board:
Production (API):
Total . .
thous sh tons nr eg 449 '67 174
Paper
do
33*986
34 409
r
Paperboard
do
34 039
33 188
Producer price indexes:
Paperboard
.
1967 — 100
2814
2746
Building paper and board
do....
259.0
257.3
Selected types of paper (API):
Groundwood paper, uncoated:
Orders, new .
.
thous sh tons
'1575
'1478
Orders, unfilled, end of period
do
140
106
Shipments
do
'1 565 1 1498
Coated paper:
r
Orders new
do
'5717
'6281
r
Orders, unfilled, end of period
do
430
575
Shipments
do
5863
6249
Uncoated free sheet papers:
'8939
Orders new
do
'9789
r/9474
Shipments
. .
do
'9980
Unbleached kraft packaging and industrial
converting papers:
Shipments
thous sh tons
'3410
'3666
Tissue paper, production
do
'4921
'4941
Newsprint:
Canada:
Production
thous metric tons..
8,988
9,013
8996
9018
Shipments from mills
do
Inventory end of period
do
290
298
United States:
Production
do
4,924
5,025
4,927
5,065
Shipments from mills
do....
60
57
Inventory end of period
do
Estimated consumption, all
users Q
do.
•11,431 11,580
Publishers' stocks, end of period #
910
874
thous metric tons
8472
7899
Imports
thous sh tons
Producer Price Index,
3325
323 1
standard newsprint
1967 — 100
Paper products:
Shipping containers, corrugated and solid
fiber shipments
mil. sq. ft. surf: area.. 267,547 264,128
5779
2942
2837
5345
2750
2595
5943
2990
2953
5420
2811
2609
5756
2870
2886
5496
2758
2738
5384
2762
2 622
5772
2870
2903
5 546
2775
2772
r
5821
r
r
5585
r
r
5388
r
2732
2656
5918
2,979
2939
2872
255.3
2859
256.2
2857
256.3
2842
257.6
2821
258.6
2762
261.1
2678
259.9
2658
258.6
r
2660
r
r
2658
r
255.2
2642
254.9
2646
254.0
2641
253.2
101
118
110
85
123
121
142
124
124
121
114
117
119
103
134
129
132
129
138
260.0
2942
2879
2818
2767
161
126
143
122
147
111
137
105
111
123
106
112
122
128
448
385
484
459
424
437
r
511
r
r
474
r
r
444
r
430
r
553
455
521
761
812
808
853
785
817
r
912
r
r
869
r
r
775
r
832
882
908
265
415
280
407
281
413
315
396
290
432
273
419
271
402
290
429
768
745
401
719
740
380
717
729
368
766
749
'3$
r
705
r
747
760
r
696
r
lll
r
290
772
713
349
387
408
63
418
410
71
408
406
73
416
403
84
414
412
86
405
405
86
398
406
57
420
387
90
955
1,009
964
888
967
791
977
743
955
720
930
693
962
668
988
672
962
740
3324
3324
332.6
332.9
3337
3330
3349
3339
20,337
21,708
22,582
22,345
21,245
22,025
23,167
93
116
161
125
140
119
555
561
563
455
520
499
472
459
540
509
445
516
464
410
496
492
442
456
452
423
470
111
817
763
773
865
856
855
856
827
848
771
813
302
416
293
392
295
428
258
394
290
419
789
734
354
741
705
390
804
809
385
749
756
379
425
415
70
406
404
73
443
432
84
869
861
916
668
961
659
3343
'22,918
1,000
r
r
949
424
481
890
771
788
384
722
r
402
r
985
407
420
73
1,051
426
472
839
r
371
448
397
406
65
1,041
1,008
917
r
923
935
744
889
691
3293
3310
3302
324 1
22,037
25,515
20,726
19,594
24,075
59.43
9695
r
910
683
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
74
Consumption
thous. metric tons.. r750
r
Stocks end of period
do
9639
Imports, incl. latex and guayule
thous lonf tons
78601
Price, wholesale, smoked sheets
.495
(NY)
$ per lb..
Synthetic rubber:
r
2
155
96
Production
thous metric tons r
2 062 30
Consumption
. .
do
r
372.05
Stocks end of period
do .
Exports (Bu of Census)
thous. lgr. tons.. 327.91
TIRES AND TUBES
Pneumatic casings, automotive:
Production
thous ' 209,375
Shipments total
. . .do. .. 242,454
58770
176 287
Replacement equipment
do
7,397
Exports
do
39,623
Stocks end of period
.
do
6,410
Exports (Bu of Census)
. .
do .
Inner tubes, automotive:
1612
Exports (Bu of Census)
do
See footnotes at end of tables.
751.21
9517
71.76
9427
65.74
9731
91.53
9142
51.67
10191
89.00
9590
45.16
9563
55.36
9793
47.30
9393
68.12
8491
47.15
8107
65.71
8513
52.37
9517
77980
7164
71 68
8804
6398
8466
4809
5997
45.30
40.70
69.44
71.81
64.49
.423
.423
.418
.423
.408
.420
.403
.418
.418
.438
.425
.398
2
.418
262.7
253.4
(?)
1 907 07
1 880 00
34895
30700
16989
15580
28121
23.86
161 61
169.54
271.81
22.68
18207
15959
288.56
28.94
16600
154.76
293.96
26.23
154.15
152.67
292.46
30.38
14254
143.56
286.35
27.25
150.36
139.78
295.79
22.21
154.21
150.64
413.53
24.95
160.33
171.57
397.28
27.60
153.64
174.31
374.94
25.33
149.17
154.00
367.00
22.13
131.76
140.27
348.95
25.44
166.52
160.66
352.75
' 195,972
242,049
62536
173 553
5960
39,823
5,627
18,381
19,965
5539
13748
678
41,948
480
17,375
16,080
4925
10,388
767
45,905
610
18,704
20,521
5869
13961
691
48,875
662
17,388
20,801
5708
14,561
532
49,168
548
16,781
20,794
5,727
14,627
440
49,063
535
15,216
20,981
5271
15,341
369
46,909
453
12,989
19,326
4,447
14,502
•,
377
44,349
433
16,635
21,054
4,759
15,819
476
43,553
397
16,844
22,683
5336
16,868
479
41,514
339
17,626
22,638
5593
16,667
378
40,425
444
15,198
19,290
5,128
13,797
365
40,023
322
13,786
17,916
4233
13,274
409
39,823
404
16,306
19,407
5603
13,366
438
40,717
1 123
135
92
113
98
84
89
86
75
70
91
118
72
3248
S-30
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
Annual
.
units
March 1986
1986
1985
T]
1984
1985
Jan.
Mar.
Feb.
Apr.
June
May
Feb.
Jan.
July
Aug.
Sept.
Oct.
Nov.
Dec.
26718
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement
thous bbl 1 435 787 1 445 585
CLAY CONSTRUCTION PRODUCTS
Shipments: i
Brick, unglazed (common and face)
mil. standard brick .. 6,990 6
Structural tile, except facing
thous. sh. tons..
527
Sewer pipe and fittings vitrified
do
442 6
Floor and wall tile and accessories, glazed
and unglazed
mi. sq ft
4087
Producer Price Index, Brick (common), f.o.b.
(4)
plant or N Y dock
1967 - 100
3503
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments
thous. $.. 955,088 1,153,682
Glass containers:
291 682 279 141
Production
thous gross
Shipments total
do
289 950 279 096
Narrow-neck containers:
23,535
26,170
Food
do
Beverage
do
61 575
61016
Beer
do
86501
90796
Liquor and wine
....
do
24 429
26177
Wide-mouth containers:
Food and dairy products
do.
60,336
64,302
Narrow-neck and wide-mouth containers:
Medicinal and toilet
do
19348
20311
Chemical, household, and in2183
2367
dustrial
do
38208
42918
Stocks end of period
do
GYPSUM AND PRODUCTS
Production:
14,784
Crude gypsum (exc. byproduct) thous. sh. tons.. 1 14,390
17,135
14,829
Calcined
do....
9,922
8,904
Imports, crude gypsum
do....
Sales of gypsum products:
1
4,386
4 544
Uncalcined
do
Calcined:
;
544
522
Industrial plasters
do....
Building plasters, total
214
249
(incl Keene's cement)
do
18324 5 19 431
Board products total
mil sq ft
32
28
Lath
do
407
432
Veneer base
do
328
323
Gypsum sheathing
do
11,474
11,631
Regular gypsum board
do
1
5 083
5507
Type X gypsum board
do
1
125
128
Predecorated
wallboard
do
;
5
880
853
/ie mobile home board
do....
21 777
21 723
31 681
39 415
44 154
42 617
45941
46 883
43 335
45968
33 186
344.4
42
260
3215
43
229
5359
49
31 0
6014
49
36 0
6358
47
37 3
630 1
42
34 2
6573
42
46 8
6860
56
32 1
6297
60
34 7
6468
55
29 5
4974
39
19 4
262
245
300
294
31 1
31 8
324
339
323
352
325
e
250,695
'302,417
288,349
312,221
22000
22764
19994
19974
23315
22913
24 411
24475
24397
24922
24252
24835
25019
26245
25468
25865
23487
23482
25 649
24226
1,999
4496
7 137
2007
1,866
4 118
5793
1702
1,991
4917
7290
2080
1,971
5632
8 196
2286
2,257
5791
8262
2260
2073
6030
7926
2351
2,105
6316
8095
2637
2,154
5929
7536
2786
2,210
4856
6752
2289
1,993
4903
7098
2126
5,135
4,449
4,852
4,588
4,547
4,861
5,416
5,657
5,598
1835
1 847
1 558
1 648
r
22 857
r
20 012
18 292
19383
1 509
4 117
5973
1 822
1407
3911
6 443
1831
6,181
4,856
4,196
1 707
1 557
1435
r
1,545
1,649
1,642
1429
1496
155
43738
199
38804
238
40252
153
40175
163
36899
165
36258
180
36422
245
34790
129
35558
218
37257
178
r
39 664
1,073
1,293
761
985
1,134
741
1,061
1,467
702
1,215
1,555
943
1,285
1,418
739
1,195
1,358
666
1,300
1,502
798
1,358
1,499
870
1,352
1,416
1,071
1,430
1,632
820
1,262
1,366
739
301
321
239
345
355
423
415
446
429
377
358
374
43
40
46
50
47
46
48
49
44
51
43
36
20
5
1496
2
18
1,345
2
30
19
818
377
10
57
16
1,617
2
36
27
976
445
9
76
18
1,685
2
37
18
1,647
2
39
31
970
467
11
82
17
1572
3
34
28
940
446
11
68
19
1,674
2
37
29
992
486
11
69
19
1,718
3
37
27
1,021
488
12
81
17
1,586
3
37
28
938
455
10
72
19
1,883
2
40
30
1,135
530
12
82
17
1620
2
34
28
974
460
11
66
15
1,585
2
39
23
962
451
10
53
460
589
236
354
535
179
356
586
218
368
602
243
359
539
166
373
r
584
r
215
r
r3
624
r3
226
r3
2432
12,369
qq
26
908
428
10
57
qq
995
470
11
91
160
38208
1,276
1,473
1,074
TEXTILE PRODUCTS
FABRIC
Woven fabric, finishing plants:
Production (finished fabric)
mil. linear yd..
Cotton
do
Manmade fiber and silk fabrics
do....
Inventories held at end of period
do....
Cotton
do
Backlog of finishing orders .
Cotton
.
Manmade fiber and silk fabrics
COTTON AND MANUFACTURES
Cotton (excluding linters):
Production:
See footnotes at end of tables.
305
r
631
273
r
359
r
443
184
r
259
575
227
348
649
276
374
531
181
350
3
708
3
273
3
434
625
268
357
509
195
313
541
205
336
629
266
363
547
194
353
532
199
334
635
263
372
539
183
356
3
668
3
237
3
431
628
259
369
514
172
342
396
153
243
596
237
359
539
172
367
574
229
345
621
254
367
525
173
351
12785
13534
1
5 268
70
681
399
418
3
519
419
439
3
525
369
458
13683
13,682
2,374
10696
612
10275
10,274
1,942
7,580
752
8,714
8,713
1,298
6,541
874
7,501
7,500
974
5,644
6,648
6,647
1,032
4,817
798
5,722
5,795
929
3,989
803
4,911
4,910
625
3,576
709
4,055
4,054
425
2,908
721
16,777
16,776
1,326
2,830
686
5,022
r
629
r
276
r
354
7,022
2651
4,371
582
228
354
12 545
12982
r
5628
11442
11,441
3,208
7551
682
do
do
do
Crop estimate
thous net weight bales §
Consumption
thous running bales
Stocks in the United States, total, end of
period 4£
thous running bales
Domestic cotton total
do....
On farms and in transit
do....
Public storage and compresses
do
°
r
506
r
201
r
r
7,538
r
2515
r
882
3
728
3
268
3
369
r
613
r
237
r
376
r
535
180
r
355
6,254
10,134
560
562
477
15,820
15,820
11,464
3,726
630
15,372
15,372
8,648
6,165
559
14,326
14,325
4,793
8,963
569
3
398
r
582
r
228
354
r
533
183
r
349
r3
672
262
410
560
229
331
530
189
340
486
596
13,683
13,682
2,374
10,696
612
12,897
12,897
1,490
10,726
681
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shov n in
BUSINESS STATISTICS: 1984
S-31
SURVEY OF CURRENT BUSINESS
March 1986
Annual
.. .,
1984
1986
1985
1985
Jan.
Feb.
Mar.
Apr.
Aug.
July
June
May
Sept.
Nov.
Oct.
Jan.
Dec.
Feb.
TEXTILE PRODUCTS—Continued
COTTON AND MANUFACTURES— Cont
Cotton (excluding linters) — Continued
Exports .
thous running bales
6516
4 756
Imports
thous. net-weight bales §
12
46
Price(farm), American upland <>
cents per Ib ..
57.5
54.7
Price, Strict Low Middling, Grade 41, staple 34
3
3
(IVie"), average 10 markets
cents per Ib..
73.1
605
Spindle activity (cotton system spindles):
Active spindles, last working
day total
mil
13 1
125
Consuming 100 percent cotton
do
50
47
Spindle hours operated, all
fibers, total
bil..
846
755
Average per working day
do....
.327
.270
Consuming 100 percent cotton
do
309
274
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly ).
mil sq yd
4002
3850
Orders, unfilled, end of period, compared
with average weekly production
no. weeks' prod...
128
96
Inventories, end of period, compared with
avg weekly production
no weeks' prod
43
45
Ratio of stocks to unfilled orders (at cotton
mills) end of period
47
34
Exports, raw cotton equiv. thous.
net-weight
480 Ib, bales..
170.9
2206
Imports, raw cotton equivalent
do.... 1,053.2
Producer Price Index, gray cotton
158.4
broadwovens
12/75=100 ..
155.5
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly:
1982
2046
Acetate filament yarn
mil Ib
3892
3527
Rayon staple, including tow
do...
Noncellulosic, except textile glass:
35244 37757
Yarn and monofilaments
do
Staple, incl. tow
do .. 3,947.3 3 773.3
Textile glass fiber
do
13940
Fiber stocks, producers', end of period:
124
123
Acetate filament yarn
mil Ib
28.5
22.5
Rayon staple, including tow
do
Noncellulosic fiber, except textile glass:
3017
2909
Yarn and monofilaments
...
do
Staple, incl. tow
do....
352.7
311.8
Textile glass fiber
do....
210.0
Manmade fiber and silk broadwoven fabrics:
Production(qtrly ) total #
.mil sq. yd.. 11 852 4 10 802 6
Filament yarn (100%) fabrics #
do.... 4,947.8 4,779.7
Chiefly rayon and/or acetate
fabrics
do .
Chiefly nylon fabrics
do....
579.6
368.0
Spun yarn (100%) fabrics #
do.... 5,615.7 4,944.1
Rayon and /or acetate fab36.4
112.9
rics, blends
do....
Polyester blends with cotton
do
43177 39127
Acetate filament and spun
r
10570
8764
Producer Price Index, gray synthetic
152.0
147.2
broadwovens
12/75-100 ..
Manmade fiber textile trade:
Exports manmade fiber equivalent
mil. Ibs..
487.87
179.06
Yarn, tops, thread, cloth
do....
10940
Cloth woven
do
Manufactured prods., apparel,
308.81
furnishings
do....
Imports, manmade fiber equivalent
do.... 1,342.57
22746
Yarn tops thread cloth
do
15495
Cloth woven
do
Manufactured products, apparel,
1 11510
furnishings
do
68747
Apparel total
do
27057
Knit apparel
.
do .
WOOL AND MANUFACTURES
Wool consumption, mill (clean basis):
1290
1063
Apparel class
mil Ib
11.8
13.1
Carpet class
do
94.2
79.5
Wool imports, clean yield
do....
30.9
29.3
Duty-free
do....
Wool prices, raw, shorn, clean basis, delivered
to U.S. mills:
Domestic — Graded territory, 64's, staple 2%"
1.92
2.28
and up
dollars per Ib ..
2.63
2.19
Australian, 64's, Type 62, duty-paid
do....
Wool broadwoven goods, exc. felts:
159.4
146.7
Production (qtrly )
mil. sq. yd..
FLOOR COVERINGS
Carpet, rugs, carpeting (woven, tufted, other),
shipments quarterly
mil. sq. yds.. 1,114.9 1,171.2
APPAREL
Women's, misses', juniors' apparel cuttings:
11,934
8,155
Coats
thous. units..
Dresses
do.... 162,296 5144,723
10,577
11,327
Suits (incl pant suits jumpsuits)
do
98,544
85,652
Skirts
do....
27,313
25,609
Blouses
thous dozen..
See footnotes at end of tables.
r
793
2
52.2
766
3
49.5
625
5
56.1
544
6
57.0
426
1
57.5
353
2
60.3
252
(i)
60.5
193
1
56.0
187
(i)
55.1
207
9
56.7
223
4
56.0
187
12
53.3
600
58.6
60.2
617
601
598
59.6
579
564
56 1
56.0
56.2
12 9
49
12 8
48
129
48
128
48
128
4*8
12 8
47
125
46
126
46
12 5
46
124
45
122
45
60
.298
22
4
57
.287
20
6.1
.305
22
4
75
.296
26
4
60
.298
21
12
.288
25
4
1014
49
.246
18
*74
.295
27
59
297
22
4
85
92
92
89
98
89
82
96
93
107
142
51
48
46
45
44
45
43
41
39
39
44
55
60
52
50
51
45
51
53
41
41
36
31
!8.7
60.5
15.2
85.4
19.8
86.0
21.2
75.7
17.3
91.4
18.6
78.5
65.7
77.9
158.3
156.7
156.5
156.2
155.7
155.8
155.4
21.6
69.4
24.7
17.4
156
14.7
153.7
153.6
154.9
154.1
155.5
918.6
944.4
9522
944.2
18.9
32.4
194
28.1
328.1
361.2
3103
340.8
2,755.2
1,166.3
2,686 5
1,186 2
116.9
1,294.6
878
1,226.8
10.4
10289
10.9
970 1
2322
r
r
147.0
148.0
147.2
146.4
146.1
96.34
1991
1363
116.29
1659
1198
116.16
2210
1539
90.56
1136
568
122.22
1827
923
123.98
1746
939
136.98
1535
831
118.98
1239
630
7643
5039
18 17
9970
6378
22.98
9406
5903
21.54
79 19
4739
18.39
10394
6784
30.44
10652
73 10
3386
121 64
8802
40.27
10659
7384
35.30
93
1.3
10.7
3.6
8.3
1.2
5.8
1.6
4
9.8
4
1.5
6.0
2.2
8.8
1.0
5.7
3.0
93
1.0
7.1
2.9
104 6
.8
4.9
2.1
6.5
.7
7.3
3.8
76
1.1
4.5
1.7
2.05
2.46
1.95
2.33
1.85
2.36
1.82
2.27
1.91
2.34
1.93
2.29
1.93
2.30
1.93
2.26
315
13,172
1,076
7,917
2,110
303
14,571
1,062
7,529
2,158
291.6
404
14,634
1,111
7,310
2,299
568
15,172
1,072
7,011
2,118
712
13,816
1,238
7,233
2,212
947
11,079
1,159
6,577
2,137
166
299.4
123
r
22.5
r
3050
3459
2,714 9
1,272.5
79.7
l,222.0
83.6
1,200.7
6.1
9665
9.0
9472
2042
2237
146.2
4
147.3
146.6
10 5
'1.1
6.9
1.7
86
.8
7.1
2.7
89
.7
5.5
17
1.93
2.24
1.93
2.24
1.93
2.17
147.3
4
8.0
2.4
10.2
25
193
2.22
193
2.31
25.7
35.8
291.8
274.8
r
1,066
10,204
1,291
7,146
2,178
81
4
.1
r
873
10,234
1,122
6,868
2,040
978
10,501
1,446
6,942
2,139
148.0
2909
311.8
2 646 0
1,154.7
r
147.3
253.0
9378
9730
r
148.1
41.9
967 1
911.7
r
149.4
43.2
489
94 1
r
2163
4
484
872
r
147.7
937
916
546
858
154.1
4
50
528
85.6
154.9
6.2
.246
27
r
90
r
59.8
125
47
r
982
54.3
58.4
4
63
.314
22
63
.313
22
396
5
53.0
r
997
11,727
8,240
2,440
r
599
9,784
r
6,591
2,218
r
393
7,829
r
r
6,288
1,560
341
13,561
7,747
1969
189
2.29
S-32
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
SURVEY OF CURRENT BUSINESS
Annual
,, .,
units
1984
March 1986
1986
1985
Jan.
1985
Mar.
Feb.
Apr.
June
May
Oct.
Sept.
Aug.
July
Nov.
Dec.
Jan.
Feb.
r
798
1,624
8 183
19 008
2927
28,412
r
676
1,324
6602
14098
r
2460
22,891
1,656
9020
17 181
3234
24,239
TEXTILE PRODUCTS—Continued
APPAREL— Continued
Men's apparel cuttings:
Suits
.. . thous units
Coats (separate), dress and sport
do....
Trousers (separate), dress
do
Slacks (jean cut), casual
do
Shirts, dress and sport
.
thous doz
Hosiery, shipments
thous. doz. pairs..
11 994
20,656
122 965
179 665
39572
309,357
9516
20,066
105 478
203 080
33020
308,660
996
858
894
775
829
723
553
760
812
842
1,672
9388
14118
2636
24,113
1,644
9 972
13 294
2569
24,156
1,724
10 874
16927
2618
24,721
1,603
9 016
17943
2741
24,229
1,877
9 641
17034
2*963
25,768
1,576
8 012
19020
2694
26,859
1,435
7 450
16 679
2393
29,388
1,848
9 265
19 680
2905
23,364
1,841
8 438
16 155
2*731
24,648
1,898
8 637
19 124
3387
30,111
931 1
3,668
8578
3,343
7779
2,882
1 1200
4,533
r
7694
r
3 111
20273
7,712
554
522
3.1
739
677
864
598
265
96
6.3
3.3
658
601
762
516
247
98
6.5
3.3
540
499
812
558
254
115
8.1
3.4
r
r
757
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders, new (net), qtrly, total
mil. $..
U.S. Government
do ....
Prime contract
do ....
Sales (net), receipts, or billings, quarterly,
total.
do
U.S. Government
do ....
Backlog of orders, end of period #
do....
U.S. Government
do
Aircraft (complete) and parts
do
Engines (aircraft) and parts
do
Missiles, space vehicle systems, engines,
propulsion units and parts
mil $
Other related operations (conversions, modifications) products services
mil $
Aircraft (complete);
Shipments f
do
Airframe weight °f°
thous Ib
Exports, commercial
mil $
MOTOR VEHICLES (NEW)
Passenger cars:
Factory sales (from U.S. plants):
Total
thous
Domestic
do
Retail sales total not seas adj
do
Domestics §
do
Imports §..
. do
Total seas adj at annual rate
mil
Domestics §
do
Imports §
do
Retail inventories, end of period, domestics: §
Not seasonally adjusted
thous ..
Seasonally adjusted
do
Inventory-retail sales ratio domestics §
..
Exports (BuCensus) total
....
. do
To Canada
do...
Imports (ITC) complete units
do
From Canada total
do
Registrations Q total new vehicles
. do
Imports, including domestically
sponsored
do
Trucks and buses:
Factory sales (from U.S. plants):
Total
do.
Domestic
do
Retail sales, not seasonally adjusted:
Light-duty 4i
do
Medium-duty $$
•
-do
Heavy-duty $$
do....
Retail sales, seasonally adjusted:
Light-duty $$
.
do
Medium-duty $$
do .
Heavy-duty $4do
Retail inventories, end of period:
Seasonally adjusted @
Exports (BuCensus)
Imports (BuCensus), including separate
do...,
do
3
105,017
67,120
101,978
5
3
3
88
3
3
060
54,912
133,542
3
86 643
3
56 725
3
13 602
3
17 865
3
17 892
7911 5 11 824 6
33450
47 150
6,252
3989
7621
7030
10394
7952
2,442
Truck trailers and chassis, complete (excludes
ae a
j,
p
RAILROAD EQUIPMENT
Freight cars (new), for domestic use; all
railroads and private car lines (excludes
rebuilt cars and cars for export):
Shipments
number
New orders
Equipment manufacturers
do...
do...
Equipment manufacturers
do
Freight cars (revenue), class I railroads(AAR): ±
Capacity (carrying), total, end of month
mil. tons
Average per car
tons
See footnotes at end of tables.
436
733
685
835
628
207
109
84
2.5
659
606
839
645
194
1,067.7
4,267
8253
3,495
10255
4,025
760
693
565
516
899
634
265
1,001
10.3
12.6
761
667
744
677
988
788
200
1,075
808
268
677
612
925
677
248
8.5
2.4
736
664
970
769
201
107
8.4
2.2
11.1
11.3
10.3
11.0
8.7
2.4
495
8.4
2.9
494
7.6
2.7
511
7.4
2.9
277
745
256
9.7
2.9
455
638
585
1,068
839
229
14.4
11.3
555
440
201
798
(2)
r
870
e
'234
11.5
e
636
8.6
2.9
832
613
219
10.9
e
8.1
2.7
1,630
1,530
1,608
1,504
1,604
1,559
1,571
1,570
1,563
1,518
1,546
1,474
1,580
1,529
1,413
1,443
1,242
1,196
1,434
1,363
1,606
1,536
1,630
1,530
1,763
1,618
1,867
1,733
22
2.2
2.2
2.2
2.1
2.1
2.3
2.5
1.8
1.3
2.6
2.8
2.3
2.3
2.6
701.16
677.19
43949
1,146 3
;
10,889
53.26
49.99
3814
58.86
56.26
3152
86.8
73.52
71.24
3271
95.6
72.39
69.87
343.6
92.5
68.08
66.53
382.5
104.7
67.49
66.27
431.8
111.0
52.09
49.92
332.1
69.9
33.61
33.04
321.6
75.6
61.39
60.38
328.7
109.0
57.26
55.42
781
790
927
936
912
923
949
926
59.19
56.75
410.5
106.9
'828
42.25
39.36
429.3
100.0
r
59.03
57.57
390.9
110.4
1,105
849
913
r
206
202
222
216
211
256
291
284
275
275
284
294
277
825
1,577
1,460
973
r
89.8
2524
'3011
3,075
2884
3,357
3 126
257
244
265
249
292
272
286
266
320
298
295
273
206
189
280
261
316
296
321
303
276
255
242
220
3,261.3
60.9
216.2
3,699.5
53.4
230.6
287.0
300.5
339.0
308.1
333.5
329.9
332.5
266.6
314.5
289.0
297.7
268.6
271.4
5.0
5.0
5.6
301.3
4.3
5.0
3.8
17.6
16.0
21.0
22.7
21.0
20.3
18.8
16.8
18.0
20.6
15.6
22.2
16.8
13.7
299.8
290.2
782.8
802.0
153.38
r
827.6
849.2
185.27
J
4049
234 230
156 600
Trailer bodies (detachable), sold
Trailer chassis (detachable), sold
363
10369
4,398
2.1
1 1 082 08 1 308 94
Registrations <>, new vehicles, excluding buses
9748
3747
1,415
1410
613.66
589.30
35594
1
1 067 4
10,129
r
8002
7337
11039
8,205
2,834
4109
1,969
4675
176 193
120 082
4.4
3.5
4.5
3.5
4.1
4.7
(2)
3.6
321.2
301.5
294.2
277.7
312.7
326.8
293.4
337.1
298.1
323.9
282.2
3.2
3.8
5.6
4.0
18.2
19.8
19.8
19.5
19.7
17.8
17.1
18.7
4.9
5.1
339.5
5.1
180
19.7
20.0
22.7
17.3
813.9
789.6
11.01
821.5
801.3
14.70
808.4
792.6
15.21
820.5
807.1
17.39
838.0
823.7
17.84
830.5
807.4
17.64
725.0
780.7
14.53
760.9
797.0
12.43
782.4
801.7
17.07
836.5
830.3
13.22
872.1
854.5
17.94
827.6
849.2
16.31
907.5
'881.1
15.51
10563
113.35
4.3
4.7
4.1
3.6
4.5
5.4
10991
10608
118.70
119.48
111.87
109.14
91.15
111.47
95.56
335
346
403
398
378
399
436
400
390
404
14473
9389
13708
9,214
15603
10,376
15,619
10,367
16,043
10,339
14,869
9,609
13,818
9,055
14,052
9,806
13,940
9,852
14,446
10,545
r
116.58
140.09
385
405
374
13,908
10,148
15,714
11,382
r
899
291
9
18
40
19
13
15
33
8
21
26
28
25529
15551
819
1,714
1,559
1,421
923
817
829
1,774
2,158
2,133
1,039
365
12,080
'11,674
1
9,510
1
9,510
1759
1,759
1,223
887
403
403
830
830
650
650
868
868
979
979
816
816
966
896
593
593
1,077
1,077
1,034
1,034
1,020
1,020
1,169
1,169
980
980
910
910
350
350
714
714
558
558
443
443
500
500
4134
4,064
3,954
3,884
4,466
4,396
4,093
4,093
1,075
1,075
1,090
1,090
3,858
3,858
2,3&
2,394
1,834
1,834
1,759
1,759
1,816
1,816
1
12
1
396
12,396
15,460
15,054
5154
4,748
1
1,553
1,553
4,629
4,559
827
827
3,843
3,843
61
770
770
3,5&
3,594
153
153
2,583
2,583
948
867
943
938
909
905
902
894
892
885
879
872
869
867
862
78.13
82.40
72.17
83.23
r
77.75
r
78.04
83.24
75.76
83.34
75.52
83.42
75.23
83.45
74.68
83.58
74.58
83.65
74.17
83.83
73.80
83.93
73.26
84.03
73.09
84.10
72.17
83.23
71.77
83.27
82.47
3.4
4.1
15.7
959.8
936.4
S-33
SURVEY OF CURRENT BUSINESS
March 1986
FOOTNOTES FOR PAGES S-l THROUGH S-32
General Notes for all Pages:
r
p
e
c
Revised,
Preliminary.
Estimated,
Corrected.
Page S-l
Page S-9
t Revised series. The estimates of personal income have been revised as a part of the
comprehensive revision of the national income and product accounts released in 1985. An
article describing that revision appears in the Dec. 1985 issue of the SURVEY. Historical
data will be published in the spring in separate volumes.
$ Includes inventory valuation and capital consumption adjustments.
§ 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.
O See note "O" for p. S-2.
1. Advance estimate.
2. Data beginning Jan. 1986 are not strictly comparable with earlier data because of a
change in estimation procedures.
# Includes data for items not shown separately.
O Effective with the January 1986 SURVEY, the seasonally adjusted labor force series
have been revised back to January 1981. The January 1986 issue of Employment and Earnings contains the new seasonal adjustment factors, a description of the current methodology, and
revised data for the most recent 13 months or calendar quarters. Revised monthly data for
the entire 1981-85 revision period appear in the February 1986 issue of Employment and
Earnings.
t The participation rate is the percent of the civilian noninstitutional population in the
civilian labor force. The employment-population ratio is civilian employment as a percent
of the civilian noninstitutional population, 16 years and over.
@ Data include resident armed forces.
PageS-2
1. Based on data not seasonally adjusted.
O The figures presented here reflect revisions of the industrial production index introduced by the Federal Reserve Board in July 1985. The revision moves the reference year of
the index from 1967 to 1977= 100, and increases the number of basic index series from 235
to 252. New value-added weights were assigned to each series for 1977. A detailed description of the revision and its results are in the July 1985 issue of the Federal Reserve Bulletin
(pp. 487-501).
# Includes data not shown separately.
§ Revised series, effective with the Feb. 1986 SURVEY. Data for inventories are available from 1959; sales and ratios 1967 forward. Revisions are available upon request.
'
Page S-3
# Includes data for items not shown separately.
§ See note "§" for p. S-2.
Page S-4
1. Based on data not seasonally adjusted.
# 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.
O 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-5
1. Based on unadjusted data.
@ Compiled by Dun & Bradstreet, Inc. Monthly data from 1984 to 1985 for failures and
liabilities, are available upon request, but are not comparable to the earlier years. The
failure annual rate data will be available at a later date.
# Includes data for items not shown separately.
§ Ratio of prices received to prices paid (parity index).
| See note "$" for p. S-4.
t Effective with the Feb. 1986 SURVEY, data (back to 1983, for some commodities) have
been revised and are available upon request.
Page S-6
§ For producer price indexes of individual commodities, see respective commodities
in the Industry section beginning p. S-l9. All indexes subject to revision four months after
original publication.
t Effective with the Feb. 1986 SURVEY, data back to 1981 have been revised and are
available upon request.
Page S-7
1. Computed from cumulative valuation total.
2. Index as of Mar. 1, 1986: building, 361.9; construction, 392.7.
3. Data are for 16,000 permit-issuing places.
# Includes data for items not shown separately.
§ Data for Jan., May, Aug. and Oct. 1985, and Jan. 1986 are for five weeks; other months
four weeks.
O Effective Feb. 1986 SURVEY, data for seasonally adjusted housing starts have been
rey'^ed back to 1983. These revisions are available upon request.
Page S-8
1. Advance estimate.
t New series effective Sept. 1985 SURVEY. All activity reported on a gross basis (i.e., the
entire amount of loan) including refinancings and combination construction—purchase
loans. Revised data are now available back to Jan. 1984. Earlier data will be available later.
O Home mortgage rates (conventional first mortgages) are under money and interest
rates on p. S-l4.
§ Data include guaranteed direct loans sold.
# Includes data for items not shown separately.
Page S-10
O See note "O" for p. S-9.
Page S-l 1
$ 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.
O Production and nonsupervisory workers.
Page S-12
1. 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. Use the corresponding unadjusted series.
O Production and nonsupervisory workers.
$ Earnings in 1977 dollars reflect changes in purchasing power since 1977 by dividing by
Consumer Price Index.
§ Wages as of Mar. 1,1986: Common, $16.10; Skilled, $21.14.
@ New series. The Employment Cost Index (ECI) is a quarterly measure of the average
change in the cost of employing labor. See p. S-36 of the August through October 1984
issues of the SURVEY for a brief description of the ECI.
t Excludes farm, household, and Federal workers.
Page S-13
1. Average for Dec.
2. Reported annual; monthly revisions are not available.
$ Effective January 1984, series revised due to changes in the reporting panel and in the
item contents. The new panel includes 168 banks that had domestic office assets exceeding
$1.4 billion as of December 31, 1982. Beginning Jan. 1985, data are as of the last Wednesday of the month. Earlier data are as of the Wednesday nearest the end of the month or year
(meaning some data are as of the first Wednesday of the next month).
# Includes data for items not shown separately.
$$ Reflects offsetting changes in classification of deposits of thrift institutions. Deposits of thrifts were formerly grouped with deposits of individuals, partnerships, and corporations, instead of with deposits of commercial banks in the United States.
* "Transaction balances other than demand deposits" consists of ATS, NOW, super
NOW, and telephone transfer accounts, which formerly were classified with savings deposits. "Nontransaction balances" reflects the combination of deposits formerly reported separately as time deposits and the savings deposits remaining after deduction of the items nw
reported separately under "transaction balances."
§ Excludes loans and federal funds transactions with domestic commercial banks and
includes valuation reserves (individual loan items are shown gross; i.e., before deduction of
valuation reserves).
O Securities of Federal agencies and corporations have been shifted out of "other securities" and are now combined with U.S. Treasury securities. Also, loan obligations of States
and political subdivisions have been shifted out of "other securities" and are now shown
separately among the loan items.
@ 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.
S-34
SURVEY OF CURRENT BUSINESS
Page S-14
1. Data are for fiscal years ending Sept. 30 and include revisions not distributed to the
months.
2. Weighted by number of loans.
3. Does not include a prior period adjustment of $326 million.
# Includes data for items not shown separately.
O 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.
$$ Courtesy of Metals Week.
@@ Average effective rate
Puge S-15
1. Public exempt offerings are not included in data prior to Jan. 1985.
2. This series has been discontinued.
t Effective Feb. 1986 SURVEY, the money stock measures and components have been
revised and are available from the Banking Section of the Division of Research and Statistics at the Federal Reserve Board, Washington, D.C. 20551.
$ Composition of the money stock measures is as follows:
Ml.—This measure is currency plus demand deposits at commercial banks and interestearning checkable deposits at all depository institutions—namely NOW accounts, automatic transfer from savings (ATS) accounts, and credit union share draft balances—as well
as a small amount of demand deposits at thrift institutions that cannot, using present data
sources, be separated from interest-earning checkable deposits.
M2.—This measure adds to Ml overnight repurchase agreements (RP's) issued by commercial banks and certain overnight Eurodollars (those issued by Caribbean branches of
member banks) held by U.S. nonbank residents, money market mutual fund shares, and
savings and small-denomination time deposits (those issued in denominations of less than
$100,000) at all depository institutions. Depository institutions are commercial banks (including U.S. agencies and branches of foreign banks, Edge Act corporations, and foreign investment
companies), mutual savings banks, savings and loan associations, and credit unions.
MJ.—This measure equals M2 plus large-denomination time.deposits (those issued in denominations of $100,000 or more) at all depository institutions (including negotiable CD's) plus
term RP's issued by commercial banks and savings and loan associations.
L.—This broad measure of liquid assets equals M3 plus other liquid assets consisting of
other Eurodollar holdings of U.S. nonbank residents, bankers acceptances, commercial
paper, savings bonds, and marketable liquid Treasury obligations.
$$ Includes ATS and NOW balances at all depository institutions, credit union share
draft balances, and demand deposits at thrift institutions.
O 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-16
1. The Aaa public utility average was suspended Jan. 17, 1984, because of a lack of
appropriate issues. The average corporate and the Aaa corporate do not include Aaa utilities from Jan. 17 to Oct. 12. The Aaa utility average was reinstated on Oct. 12; the Oct.
monthly average includes only the last 14 days of the month.
2. Effective with Jan. 1986 data, the practice of adjusting exports and imports for seasonal and working-day variations was discontinued.
§ Number of issues represents number currently used; the change in number does not
affect the continuity of the series.
t 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.
S-17
1. See note 2 for p. S-16.
# 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.
PngeS-18
1. See note 1 for p. S-17.
2. Annual total; quarterly or monthly revisions are not available.
3. Restaurant sales index data represent hotels and motor hotels only.
4. For month shown.
# Includes data for items not shown separately.
§ Total revenues, expenses, and income for all groups of carriers also reflect nonscheduled service.
t The threshold for Class I railroad status is adjusted annually by the Interstate Commerce Commission to compensate for inflation.
March 1986
O Average daily rent per room occupied, not scheduled rates.
## Data represent entries to a national park for recreational use of the park, its services,
conveniences, and/or facilities.
t Before extraordinary and prior period items.
S-19
1. Reported annual total; monthly revisions are not available.
2. Effective with 1985, data are reported on a quarterly basis.
3. Less than 500 short tons.
4. Data are no longer available. Annual figure represents total exports for the period
Jan.-June.
# Includes data for items not shown separately.
§ Data are reported on the basis of 100 percent content of the specified material unless
otherwise indicated.
* New series. Access lines are a communication circuit that connects a customer location to a switching center.
@ Because of deregulation, carriers are free to enter both domestic and international
markets. Previously, carriers were limited either to domestic or overseas markets. Separate
data for domestic or overseas are no longer available.
$ Data for 1984 (and 1983, for some commodities) have been revised and are available
upon request.
S-20
1. Reported annual total; monthly or quarterly revisions are not available.
2. See note 2 for p. S-19.
§ Data are not wholly comparable from year to year because of changes from one classification to another.
O Effective with the Nov. 1985 SURVEY, data for 1982-84 have been revised and are
available upon request.
t Effective w i t h the Nov. 1985 S U R V E Y , data for 1983-84 have been
revised. These revisions are available upon request.
# Effective with the Sept. 1985 SURVEY, monthly data have been restated back to Jan.
1984 to include consumption for Hawaii. Prior to 1984, consumption for Hawaii is reflected
in annual totals only.
S-21
1. Previous year's crop; new crop not reported until Oct. (beginning of new crop year).
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. Less than 50,000 bushels.
6. See note "@" for this page.
7. Reported annual total; revisions not distributed to the months.
8. Based on a 10-month average.
9. Data are no longer available.
§ Excludes pearl barley.
# Bags of 100 Ibs.
(3) Data are quarterly except for June (covering Apr. and May) and Sept. (covering
June-Sept.).
S-22
1. Reported annual total; revisions not distributed to the months.
2. Prices are no longer available. Annual average is based on quotations for fewer than 12
months.
§ Cases of 30 dozen.
O Bags of 60 kilograms.
S-23
1. Crop estimate for the year.
2. Reported annual total; revisions not distributed to the months.
# Totals include data for items not shown separately.
O Effective Sept. 1985 SURVEY, the footwear production series have been revised for
1983 and 1984.
1.
2.
3.
dure
4.
Annual data; monthly revisions not available.
Less than 500 tons.
Beginning January 1985, data have been revised because of a new estimation proceand may not be comparable to earlier periods.
See notes 1 and 3 for this page.
Page S-25
1. Annual data; monthly revisions are not available.
2. For month shown.
t Beginning January 1982, data represent metallic (mostly aluminum) content. Data for
1981 and prior years represent aluminum content only.
O The source for these series is now the Bureau of Mines.
§ Source: Metals Week.
S-35
SURVEY OF CURRENT BUSINESS
March 1986
Page S-26
PageS-30
1. Annual data; monthly revisions are not available.
2. Less than 50 tons.
3. Beginning 1st quarter 1984, data have been revised because of a new sample and may
not be comparable to earlier periods.
4. Average for 8 months; no data for March, April, September, and October.
5. Average for 10 months; no data for November and December.
O 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.
§ Beginning with the Aug. 1985 SURVEY, unadjusted fluid power shipments indexes are
shown. Seasonally adjusted indexes are no longer available.
# New series. For an explanation of material handling equipment shipments and historical data, see p. S-35 of the Dec. 1985 SURVEY.
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 no longer available.
5. Beginning Jan. 1985, figure includes sales of water/moisture resistant board, not shown
separately.
6. Beginning 1st quarter 1985, value of shipments for rolled and wire glass is excluded.
Comparable 4th quarter 1984 figure, which excludes such shipments, is $243,820,000.
# Includes data for items not shown separately.
<0 Cumulative ginnings to the end of month indicated.
§ Bales of 480 Ibs.
$ Monthly revisions for 1984 are available upon request.
Paige S-27
1. Data are for five weeks; other months 4 weeks.
# Includes data for items not shown separately.
§ Includes nonmarketable catalyst coke,
O Includes small amounts of "other hydrocarbons and alcohol new supply (field production)," not shown separately.
t Effective with the Oct. 1985 SURVEY, coal production data for 1984 have been revised.
These revisions are available upon request.
@ I n c l u d e s U.S. produced and imported microwave ovens and combination
microwave oven/ranges.
$ "Tractor shovel loaders" includes some front engine mount wheel tractors that had
previously been included in "Tractors, wheel, farm, and nonfarm."
Page S-28
1. Reported annual totals; revisions not allocated to the months.
2. Effective with June 1985, indexes reflect price movements through the middle of the
month for which they are shown. Indexes prior to June 1985 were based on prices for the
previous month; reflecting a one-month lag in pricing.
3. Effective with the Jan. 1985 price, gasoline that contains alcohol as an additive is
included.
# Includes data for items not shown separately.
Page S-29
1. See note 1 for p. S-28.
2. Data are no longer available.
O Source: American Paper Institute. Total U.S. estimated consumption by all newspaper users.
# Compiled by the American Newspaper Publishers Association.
PageS-31
1. Less than 500 bales.
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. Average for 9 months; no data for Oct.-Dec.
O 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.
§ Bales of 480 Ibs..
PageS-32.
1. Annual total includes revisions not distributed to the months.
2. Production of new vehicles (thous. of units) for Feb. 1986: passenger cars, 702; trucks
and buses, 292.
3. Effective with 1984, data are reported on an annual basis only. The annual/end of year
figure for 1982 has been revised and is available upon request.
4. See note "(§)" 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.
O Courtesy of R.L. Polk & Co.; republication prohibited. Because data for some states
are not available, month-to-month comparisons are not strictly valid.
$ Excludes railroad-owned private refrigerator cars and private line cars.
t Monthly revisions for aircraft shipments and airframe weight for 1984 are available upon request.
$$ Sizes (gross vehicle weight) are classified as follows: Light-duty, up to 14,000 Ibs.;
medium-duty, 14,001 - 26,000 Ibs.; and heavy-duty, 26,001 Ibs. and over.
@ Effective with the Feb. 1986 SURVEY, retail inventories of trucks and buses have
been revised back to 1967. These revisions, which were made to reflect updated factors, are
shown on p. S-35 of the Feb. 1986 SURVEY.
S-36
SURVEY OF CURRENT BUSINESS
BUSINESS STATISTICS: 1984
BUSINESS STATISTICS: 1984 is the twenty-fourth in a series of supplements to the monthly SURVEY OF CURRENT!* BUSINESS. It presents data
for approximately 1,900 series that are shown each month in the S (or
"blue") pages of the SURVEY. The main body of the publication presents
monthly data for 1981-84 and annual data for 1961-84. Appendix I provides monthly data for 1961-80 for approximately 250 of these series.
Methodological notes describing sources, definitions, methods of compilation, revisions, and time span covered follow the main body of tables.
Quarterly and annual data for 1953-84 for selected series prepared by
the Bureau of Economic Analysis—National Income and Product Accounts (140 series), Plant and Equipment Expenditures (18 series), and
U.S. International Transactions (30 series)—appear in Appendix II. These
series are shown in the white pages of the SURVEY. Methodological notes
for Appendix II follow the tables. The data in BUSINESS STATISTICS:
1984 contain revisions available through July 1985.
BUSINESS STATISTICS: 1984 can be ordered from the Superintendent
of Documents, U.S. Government Printing Office (GPO), Washington, DC
20402 at a price of $13.00. Order by stock number 003-010-00160-7; enclose check or money order payable to Superintendent of Documents.
BUSINESS STATISTICS: 1984 can be ordered by telephone (202) 783-3238
and charged to MasterCard, VISA, or a deposit account at the Superintendent of Documents.
March 1986
§^jS"i
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 manufacturers .„«..»..»„*„......„„„...
Petroleum, coal, and products „....»„,.....*„.»„...
Pulp, paper, and paper products......................
Rubber and rubber products
,„*
Stone, clay, and glass products ...,.„ ..,.....„.
Textile products
„„,...,..„.„.*.„„.„*
Transportation equipment ....„..........»,„.....„„„.
Footnotes....... .
„*.„...„..„
1—5
5, 6
7, 8
8, $
9-13
13-16
16-18
18,19
19, 20
20
20-23
23
23, 24
24-27
27, 28
28, 29
29
30
30-32
32
33-35
IN0IVIBUAL SERIES
Advertising
„„...„.....,
,...„.„„.„......„ 8,12
Aerospace vehicles „..,..„.,„..„„„„„.„..„
32
Agricultural loans ................................................
13
Air carrier operations „„„.....„,.,.......,„„„.......„„.
18
Air conditioners (room)*..
,.,«..,
,
27
Aircraft and parts „.„.....„.„.»,»...„..„„,.......*„»»„..„ 4, 32
Alcohol, denatured and ethyl „.„»....„*......„.„.„...
19
Alcoholic beverages
».,.„„.....„„,.„......„».,». 8, 20
Aluminum .............................................................
25
Apparel
„.„„.,....„„„„....,.*,... 2, 4-6,8-12,31, 32
Asphalt.....*.*
*,„ ...».*
„„.,„.....,„.„......,
28
Automobiles, etc ..„...„*«„..„. 2-4, 6, 8,9,14,15,17, 32
Banking
.„...,..„. ,.,..*,
..,..„„.„„„...., 13,14
Barley .„.......„*,„.,..» ..,„..,,..., ,.*,„»
21
Battery shipments
.»„.„.»„.„,....,»*,
,»„
27
Beef and veal
,.,. „.....„...,..„„„ ,...„
22
Beverages
*»..«..„..„,„...„,*„«.„.„ 8,17, 20
Blast furnaces, steel mills ....„„...„.„.,„..., *.,*„..
3-5
Bonds, prices, sales, yields ..,,*.,*...,...,„„»..„.„**„,, 15,16
Brick.....
..„,.„.....,.,„.......„,.,,.„..,..,„».
30
Building and construction materials..............
2,4, 5
Building costs
»
.,..«.„....
»„.,.
7
Building permits .,.*.„„„..„.„,.,„. *„„.„..„„,.<„„
7
Business incorporation (new), failures ,«..»..,.„.,..
5
Business sales and inventories**,,.........*,.,......,.,,.. 2, 3
Butter .„.,„»„ »„..,„.„„.„.«...„..,„.„....„„*,„....,„.*
21
Carpets
.„„„...,„».„.,......+„„....„„„*,..
»,.,...
31
Cattle and calves..*,..*..,,,........,.......,...„.„„»...„»„..,
22
Cement,
„*..
*..„...„.„..,„„...,.„..
30
Chain-store sales, firms with 11 or more
stores (retail trade) ......*....,.«.....................,.......
9
Cheese
...„*„*„...„..
,.,..„..
21
Chemicals „
,. 2-4,10-12,15,17,19, 20
Cigarettes and cigars............................................
23
Clay products ......,„ ,.„.».—..„„
„
2-4, 30
Clothing (see apparel)
Coal.
„„.„.„...„,.,...„.„.„... , 2,27
Cocoa.
„.„.......„„. ....*„„ ,.
22
Coffee .„....,„„ .„„„„.„„„*.„.
„„. „,„.„.
22
Coke
„„....,......„„. „...„„„.„„.„„.
27
Combustion, atmosphere, heating equipment
...„*.„
,„„........
„..*,.,„..„
26
Communication ,........,..„„.,.„„..«...,*.,...,....,..„»,..... 15,19
Construction:
Contracts
.»,.......„... „„„„„»,„........„„
7
Costs
*„........„* ....*„„,„.....»,*„».„.„.
7
Employment, unemployment, hours,
earnings..«..«»
10—12
Housing starts..................................................
7
New construction put in place ..*,+»,
7
Consumer credit
,»,. , ..„..„..„„.,.
14
Consumer goods output, index „....„..„„.„..„.„„.. 1, 2
Consumer Price Index „„„...„„*..„......„.„„........„ 5, 6
Copper and copper products „...„„„....„..*„......„„ 25, 26
Corn. »,
, .,„„„.....„„„..„„....,....»..„
21
Cost of living (see Consumer Price Index)..,....... 5, 6
Cotton, raw and manufactures ,...„......,......»....,» 5, 30, 31
Credit, commercial bank, consumer, ...........
14
Crops
„,„...,. ........,„,„, »,„.
5, 21, 23, 30
Crude oil
...,.
3, 27
Currency in circulation „„,„.„...,„...„„**„.......»,.„;
15
Dairy products ,,......*„,«.„....„+........„.,,».,...,.„„,.,,. 5, 21
Debt, U.S. Government .,.........,.,.„„.„..„..„».
14
Deflator, PCE .„...„„*
,.„„„....„.„
4,,,......
1
Department stores, sales, inventories „„......„»„.„
9
Deposits, bank ...„..„......„„„„..„„
„.„..„„.„.„ 13,15
3h
A ^tp'wc1'nr^w ^<O
Dishwashers and disposers,........,,,....,,.,....,.,..,.....
27
Disposition of personal income ,„.„.»......».,.„
1
Distilled spirits .„..„»»„.....„, ,....,.„.„.,„.,......,..„.
20
Dividend payments ,.,...„..,*,.„„„, .„„....
1,15
Drugstores, sales
.+.„.,».„„„,„„.,.«.«.„.... 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 and employment cost .........„„...,.„„ 10-12
Explosives,....,,,,..
.„...„.„.„..„„..,
20
Exports (see also individual commodities) .*„ 16-18
Failures, industrial and commercial „.„...„...,„„„
5
Farm prices .,»,...... „,.
,.,. „»«„,„., 5, 6
Fats and oils .„...„.,„»....„..,.„.»..... ,....».„„.„„..,
17
Federal Government finance..... „.„,„„..
14
Federal Reserve banks, large commercial ...»..„..,
13
Federal Reserve member banks ,,.*,...,....«.,,.,....,...
13
Fertilizers ...„„„..
..„.„.„.......,..„......,
19
Fish..............
,«..„„„„,.......,..,„.....„..„„„......
22
Flooring, hardwood „„„.„„„.„..,..,..,„„.»„,..„.„
24
Flour, wheat
....*.„.„„....„.„„„
22
Food products ......„.„*..„.... 2-6, 8,10-12,15,17, 20-23
Foreign trade (see also individual commod.) ...... 16-18
Freight cars (equipment)
...,..„.«,„.„„....
32
Fruits and vegetables ,.*,.......,......,..„.,,„„...„.......,
5
Fuel oil *...„..,„.,„.
»„........„„..
6, 28
Fuels
..„,»„..,....„„*.......„.,„.„..... 2, 6,17, 27, 28
Furnaces «,...*,.,,».......,,»,„„....*,„„..«.„...,„„.„....,.»„„
27
Furniture.......,..,.,....,,,......, .,„..,......
2, 6, 8-12
Gas, output, prices, sales, revenues .„... ,„« 2, 6, 20
Gasoline..,..,..,,...,,,.....,.,..,,.,,,.,.,.,...,,.,,,..... .,
28
Glass and products .,.....»..*„„.„„.....„„.„.... „
30
Glycerin «„«.„*......,»*««,«.,.....,.*..,..„,, , „... »<«»
19
Gold,..
14
Grains and products.......
...... 5, 21, 22
Grocery stores „„....»
9
Gypsum and products ....
,..„..„
30
Hardware stores ..„—»...„,„.„,...,*,.„...,..,....„„,.....
8
Heating equipment „..„.....„„„».,.«.,„..„„.„„„.„„„.
26
Help-wanted advertising index ,„....„.,.,„,„......„.,
12
Hides and skins .„„.„....„.,...,„„..,..„„„..„„.....„.„.
6
Hogs ...,„............*„,»,„......,.«„........„...„..,„,....„„„
22
Home loan banks, outstanding advances .,.,......„
8
Home mortgages .»„»,»,.„„,„„ .«„„...,„.,»„,.»„„...
8
Hotels, motor hotels and economy hotels „„.,..„.
18
Hours, average weekly......
........
.„..„.,.
11
Housefurnisfaings .„,.„*„„„........„„„ ..,..,„. 2, 4, 6, 8, 9
Household appliances, radios, and television sets
27
Housing starts and permits*. „,..„„..»..,.....„„„.
7
Imports (see also individual commodities) „..„..„ 17,18
Income, personal .......,.„...........,„„„...»..*.,.........»„
1
Income and employment tax receipts ,....*„.,..,.....
14
Industrial production indexes:
By industry
,.*„,„..„...„„
..,„,. 1, 2
By market grouping .......,„„>„„..„„„„—,„..„„... 1, 2
Installment credit .,.„„.. ,.,.,.„.... .„„........„.„
14
Instruments and related products,.....,,....,.,.., 2-4, 10-12
Interest and money rates ...........—.„......,„.„„...
14
Inventories, manufacturers* and trade ,.........*»,.„ 3,4, 9
Inventory-sales rates „.»
..„„.....„*.„».,.„...„..,
3
Iron and steel —.,.....,........,„„..„.......,.„.... 2,15, 24, 25
Labor force.,....,
*,„...
*.„,«.
„.,,...„..„.„
9, 10
Lamb and mutton ..,..,„ .,..,
„..„...„..„„.„.
22
Lead .....„.„„„..,.....,..,..» „.„.....„......,...„... ,.
26
Leather and products ,„..,....,..„„„.,.
2, 6,10-12, 23
Livestock „„.......,...„.,...... ,.
5, 22
Loans, real estate, agricultural, bank (see also
Consumer credit) ,..„,+„,.......«,»„.„.„.„.„»,„.,....„ 8,13
Lubricants .........
,
.„,..
28
Lumber and products
,„„.......,.. 2,6,10-12, 23, 24
Machine tools
„..,».,..,.......„........
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 .„„„.....,.„„»„. 1, 2
Meat animals and meats „„„„„„.,
,„
5, 22
Medical care
,.,., ,....,.....,...„„.„....„*„
6
Metals..,
...„....,
2-6,10-12,15, 24-26
Milk..,,.*,,..
.....,...„.,„.....,..„
21
Mining ,...„..,...„..„..
,......„.
2,10-12
Mobile homes, shipments, installment credit...... 7,14
Monetary statistics .„...„..„.„....„. ...„„„„..,...
15
Money and interest rates „„..„..
14
Money supply ..,„..,„.„..„.,
».,........„„„..
15
Mortgage applications, loans, rates »„„....,.. 8,13,14
Motor carriers
„„*».«„ ,
18
Motor vehicles ..„....„..
2-4, 6, 8,9,15,17, 32
i$%
National parks, visits .....„„„»«...«...„..„....„.„*+»....
18
Newsprint .,.,*
..„..
...**„..
29
New York Stock Exchange, selected data..... ,
16
Nonferrous metals,*.......,*,,,,.
*,„.. 2,4, 5,15, 25, 26
Oats „....„„..„..„..*,.*„..,...„*,„.........„.*„......*,.,.,.....
21
Oils and fats ....„.,
,,*,„ „*,...........,.*„...
17
Orders, new and unfilled, manufacturers* ...„., 4, 5
Outlays, U.S. Government
..„
14
Paint and paint materials ,..,*, ,„ ..„..*
20
Paper and products and pulp ,»,.„....„.„..„..„„,„... 2-4,
6, 10-12,15, 28, 29
Parity ratio .„...„....*„„.„..,.„,+,.„.„. .,„+»,,„*,.,.„
5
Passenger cars,.,..,,..,*,....,...,.,,,..., 2-4,6, 8, 9,15,17, 32
Passports issued ...,...»i,.,,,,....,*,»*......,,«,,,,,,.,.,+»,,.,..
18
Personal consumption expenditures ..„„„„»„...„„
1
Personal income „.„,»..,..„..,.......„*„„„.....,„„„......
1
Personal outlays...................................................
1
Petroleum and products ,».,.....*.,+„...,„.„„,„.....„.„ 2-4,
10-12,15,17, 27, 28
Pig iron „„„.......,***,..«....„*........*„,„.......„.„„.,......
24
Plastics and resin materials „**„.„. „„„..,...»„„.
20
Population ..,...„„..„.„..,„.,
„„
„.,
9
Pork... ,...,„.*„ ...„*„„.,..,„«„„....„.„*,....,.,.*
22
Poultry and eggs .....*„.....—,„.....„.,
,...*„*.. 5, 22
Price deflator, implicit (P£E) .„.„.<..,«*„
«.„
I
Prices (see also individual commodities),,.,..,...... 5, 6
Printing and publishing ..„..,*„,
..,
„„„ 2,10-12
Private sector employment, hours, earnings ,.,.,„,..„,,.,.»...,....„„.„.„...„».........„*„..„.„,.,„ 10-12
Producer Price Indexes (see also individual commodities) „,,»
„*„„,.„.,.„„..„....,......„.„„....
6
Profits, corporate....,.,,,,,,,,...,,.,,.,
,*,.....*,.*
15
Public utilities..,*......*.,,,...
,....„.„..„. 1, 2, 7,15, 20
Pulp and pulpwood ..«„„*„.„...„„„.«...„„»«.„...„..„
28
Purchasing power of the dollar „.„........„„.„.....„
6
Radio and television ......,„„„,
„...........,.„.,..., 8,27
Railroads ..„,..
.,.*.»..„.,*„„..„...„.„. „,*, 13,18, 32
Ranges and microwave ovens
,„„.,.„„.„„„
27
Real estate „„..„..„.,..„.„,„„. „...„.....„.„.„...„... 8,13
Receipts, U.S, Government ,„.,.....„
.,.*..„.„.„
14
Refrigerators and freezers .„.„„«„..*,„.„...„„„.....
27
Registrations (new vehicles) ,..,*„.
„...,
32
Rent (housing) ..*,.....,.„*„„„,.„,„«.„......„„*..,„
6
Retail trade
,.... ,
2, 3, 5, 8-12, 32
Rice.,,..,....,.*.........,.,,,,,,..
,.,„«„.,„.„.„.„
21
Rubber and products <incl, plastics) ,.„*......„.„.... 2-4,
6,10-12,29
Saving, personal .................................................
1
Savings and loan associations
8,14
Savings deposits .„„.,*....,„„„,.„...„„.„.,.,.,„,...,.„„ 13,15
Securities issued «..„„»««,„,;„,.....*„„„«.„..,„,......*
15
Security markets „«„„„,«*„..„,.,.»«.,„,.,„*,„„„»„.„, 15,16
Services .*.„.„„....„*„,»„„..«„.»„„„»„..„,„„..».„..„ 6,10-12
Sheep and lambs ,....»,.„„„.„«.„«,„„.»„,..„„.»...»„,„
22
Shoes and other footwear ,...*.*„„„.».*„„„„.,.....„.,
23
Silver ,*,„.,...,.„,*,.*..,.......„».„,..,«.„„„.„.„„„»„..„,„.
14
Spindle activity, cotton ..«.„„...„..».„,.,—„„,„,..„
31
Steel and steel manufactures ,.,......».„ ..,...,,,.. 24, 25
Stock market customer financing ...«„„.....,.„,.,...
15
Stock prices, yields, sales, etc ,*».„*«.......„,„ „.*
16
Stone, clay, glass products ,„.....„..„.. 2-4,10-12,15, 30
Sugar,,
23
Sulfur,,*,. .,**.*.„,.,...„*,....»
19
Sulfuric acid ...,„*„..,..„
19
Superphosphate .................
19
31
Synthetic textile products,
Tea imports .........................................................
23
Telephone and telegraph carriers ,
„..«...
19
Textiles and products.............. 2-4, 6,10-12,15, 30, 31
Tin .„„„.„ „„„,„„,„„,....„„,„„ .„„ ,.„*,„.
26
Tires and inner tubes
.,....,.„„..,....*„„... ..
29
Tobacco and manufactures,..,...
,.».„. 2-4, 10-12, 23
Tractors
..*,.» .»...„...„.,„.
,..
27
Trade (retail and wholesale)
.„... 2, 3, 5,8-12, 32
Transit lines, urban ,»„.....„„.„„...„».»« .,.„..„....
18
Transportation
„„......,...„. ,..,., 6,10-12,15,18
Transportation equipment —„„.. 2-6,10-12, 15,17, 32
Travel....,.,.,......,,..,,......,,.,
,.„„.„.„.*,
18
Truck trailers
„.„..,„.„...,..„„„«,..„
,.
32
Trucks ..,.....„.,. ..... «„......„... „.,......„*..,.. 2, 32
Unemployment and insurance ...*..,„„....„.„
9,10, 13
U.S. Government bonds .,.„
,.„ .„...„„..„..
16
U*S, Government
finance.,
.„...,.,.,„„„
14
Utilities.
..,..,
2, 6, 7,15, 20
Vacuum cleaners ..„„..
„„„.....,..,.*„„„..,....„.
27
Variety stores ,...«.„.„.,
9
Vegetables and fruits .
5
Wages and salaries
..„,«.......„„„„„..........*.„. 1,12
Washers and dryers
,....„........„.*...... ,.
27
Water heaters .„„....„....,
„..,.,„*....
27
Wheat and wheat flour ...,..,
,..„.„*.„....„.„„„ 21, 22
Wholesale trade..,.
,.,
.„ 2, 3, 5, 8, 10-12
Wood pulp „.
„
„.*„.....,
,..»..«,
28
Wool and wool manufactures
,..«.„.,
31
Zinc....... „..„„....„
.„..,
26
UNITED STATES
GOVERNMENT PRINTING OFFICE
UPERINTENDENT
)N, D C 20402
Penalty for Private Use, $300
@FedFRASER