Full text of Survey of Current Business : May 1953
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MAY
ism
U. S. DEPARTMENT OF COMMERCE
OFFICE OF BUSINESS ECONOMICS
1953
SURVEY
©F CUHKENT
BUSINESS
No. 5
MAY 1953
PAGE
THE BUSINESS SITUATION
1
National Income and Product—
A Review of the First Quarter
Trends in Industrial Output
2
7
* **
DEPARTMENT OF COMMERCE
FIELD SERVICE
Albuquerque, N. Mex.
204 S. 10th St.
Memphis 3, Tenn.
229 Federal Bid*.
Atlanta 3, Ga.
86 Forayth St. NW.
Miami 32, Fla.
36 NE. First St.
Baltimore 2, Md.
200 E. Lexington St.
Milwaukee 2, Wis.
207 E. Michigan St.
Boston 9, Mass.
40 Broad St.
Minneapolis 2, Minn.
607 Marquette Ave.
Buffalo 3, N. Y.
117 EIKcott St.
Mobile 10, Ala.
109-13 St. Joseph St.
Butte, Mont.
306 Federal Bldg.
New Orleans 12, La.
333 St. Charles Ave.
Charleston 4, S. C.
Area 2,
Sergeant Jasper Bldg.
New York 13, N. Y.
346 Broadway
Cheyenne, Wyo.
303 Federal Office Bldg.
Oklahoma City 2, Okla.
114 N. Broadway
Chicago 1, 111.
221 N. LaSalle St,
Omaha, Nehr.
105 Federal Office
Building
Cincinnati 2, Ohio
105 W. Fourth St»
1015 Chestnut St.
Cleveland 14, Ohio
925 Euclid Are.
Denver 2, Colo.
142 New Custom Hones
Business Inventories—
Recent Trends and Position .
LIFO Inventories
and National Income Accounting
9
Detroit 26, Mich.
1214 Griswold St.
16
El Paso, Tes.
Chamber of Commerce
Bldg.
Hartford 1, Coua,
135 High St.
* * if
Houston, Tes.
MONTHLY BUSINESS STATISTICS . . S-l to S-40
New or Revised Statistical Series
23
Inside Back Cover
Published by the U. S. Department of Commerce, SINCLAIR WEEKS,
Secretary. Office of Business Economics, M, JOSEPH MEEHAN,
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Phoenix, Arias.
311 N. Central Ave.
Dallas 2, Tex.
1114 Commerce St*
SPECIAL ARTICLES
Statistical Index
Philadelphia 7, Pa.
Pittsburgh 22, Pa.
717 Liberty Arc.
Portland 4, Oreg.
520 SW. Morrison St*
Providence 3, R. I.
327 Post Office Annex
Reno, Nev.
1479 Weil a Ave.
Richmond, Va.
4.00 East Main St.
4?G Lsmar Si.
St. Loais 1, Mo.
1114 Market St,
Jacksonville 1, Fla.
311 W. Mcmroe St.
SaU Lake City I, Utah
109 W. Second St., So.
Kansas City 6, Mo.
903 McGce St.
San Francisco 2, Calif.
870 Market St.
Los Angeles 15, Calif.
112 West 9th St.
Savannah, Ga.
125-29 Ball Si*
Louisville 2, Ky.
631 Federal Bldg
Seattle 4, Wash.
123 U. S. Court House
For local telephone listing, consult section
devoted to U. S. Government
MAY 1953
By the Office of Business Economics
J_HE strong trend in business activity has been extended
into the second quarter, with most sectors experiencing the
usual spring pickup. In the main, sales and production
have been roughly equal so that additions to inventories
have been comparatively small. Consumer demand has
remained buoyant, supported by an advance in income over
the rate attained earlier in the year and by further expansion
in the use of credit. New orders placed with manufacturers
for civilian goods have matched the high rate of sales, so
that producers continue to hold large order backlogs.
Sales by manufacturing and trade firms are higher than a
year ago, as the advances scored in the past several months
have been maintained or exceeded. The recent expansion
has been most pronounced in the durable goods7 sectors of
the economy, though many nondurable lines report higher
sales and output as well.
National income and product data for the first quarter,
analyzed in detail in this issue, provide comprehensive
measures of recent trends. They permit quantification of the
tendencies discussed in earlier issues.
The striking feature brought out in the quarterly accounts
is the extent to which sales of final products have picked up.
Whereas an important part of the fourth-quarter 1952
increase in output went to replenish inventories, so far this
year there has been little change in inventories. With the
advance in personal consumption and a further rise in fixed
investment, the rising flow of production has moved directly
to final use.
Nonagricultural Employment has
advanced substantially in the
past year
MILLIONS OF PERSONS
65
60
55
50
I960
1951
1952
1953
FIRST QUARTER AVERAGE EACH YEAR
Most of the rise has been in
Durable Manufacturing
Rising income supports trade
12.5
^^ TRADE AND FINANCE
(SEASONALLY ADJUSTED)
10.0
7.5
NONDURABLE
MANUFACTURES
5.0
CONTRACT
CONSTRUCTION
(SEASONALLY ADJUSTED)
2.5
\
I
I
I
1950
i
1951
I
I
I
I
I
1952
I
I
1953
QUARTERLY AVERAGES
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
250453°—53
1
53~66
This rise in consumption and investment has been accompanied by, and is in part traceable to, the continued uptrend
in the flow of income. In March, personal income reached
an annual rate of $282.5 billion, an increase of $1.5 billion
over February, and $20 billion over the rate of a year ago.
Business incomes have also moved ahead with higher volumes
and comparatively stable nonfarm prices. An exception to
the general trend has been the income of the farm population
where the flow is down from last year's rate owing to the
price movement, which was again lower in April.
The extent to which civilian purchases have moved ahead
this year is pictured in the chart on page 3, and the consumer
buying trend is compared with the rise in disposable personal
income in the chart on page 5. While most of the expansion
in demand has been in the private sector, large Government
purchasing has continued to lend major support to business
sales.
The rapid increases in national security expenditures of
the period before mid-1952 have been succeeded by a more
gradual and limited advance. As shown in the chart on
page 6, total Federal Government purchases of goods and
SUEVEY OF CURRENT BUSINESS
services increased about $2.8 billion at an annual rate from
the second quarter of 1952 through the first quarter of this
year. A considerable portion of this rise represented higher
farm price-support expenditures by the Commodity Credit
Corporation.
While the review of Federal expenditures contemplated for
the 1954 fiscal year has not been completed, President
Eisenhower stated in a preliminary summary that he will
ask Congress for $8)£ billion less of new obligational authority
than was requested in the original budget total submitted in
January to Congress. The expenditures pattern for the
coming fiscal year has not been spelled out as yet, though it
was further indicated in the budget review that the downward
shift from the January expenditure estimate would not be so
large as the reduction in new appropriation requests.
Among developments in financial markets during April
was some further decline in security prices, with the trend
in the bond market reflecting the advance in interest rates
which affected both Government and commercial bonds, as
well as commercial loan rates.
The Treasury issued $1 billion in long-term bonds at 3K
percent, the highest rate since 1934. In the first four montlL
of the year, the average yield on all domestic corporate bonds
rose by }{ percent to 3.47 percent, and this trend has influenced the offering rates and coupons on new issues. Shortterm rates also increased during this period.
Permitted interest rates on private-home loans insured by
Federal Housing Administration and those guaranteed by
the Veterans' Administration were increased to 4^ percent—
rises of one-fourth and one-half percent respectively. This
increase, which followed the earlier advance on other types of
residential mortgages, was designed to increase the flow of
funds to these classes of borrowers.
National Income and Product—
A Review of the First Quarter
X HE principal feature of the first-quarter business situation was a substantial further advance in the sales of final
products, with goods moving in larger volume into consumption and fixed investment. As a consequence, aggregate
production of goods and services rose above the fourth-quarter level, in spite of the sharp reduction of the net flow of
goods into inventories. Fourth-quarter inventory accumulation had been extraordinarily high, as the business community corrected imbalances in stocks caused by the steel
strike.
With the continued expansion of industrial output and the
generally well-balanced market situation during the quarter
the further dismantling of economic controls in the broad
fields of prices, wages, and materials was accomplished with
little immediate effect on overall prices.
Gross national product was at an annual rate of $361
billion in the first quarter of 1953, as compared with $359
billion in the fourth quarter, and with $343 billion in the
third quarter of last year.
An estimate of total income arising in production—the
national income—is not yet available because of the lack of
adequate corporate profits data for the first quarter. However, the sum of all other production income-shares showed a
moderate rise similar to that of the gross national product;
and company reports so far published for the first quarter
furnish evidence that profits were up for the second sucessive
quarter.
More representative data for the fourth quarter of last
year substantially confirm the estimate of before-tax profits
given in the February issue of the SURVEY, but indicate a
downward revision in tax liability (which is incorporated in
table 1). The third-to-fourth quarter profits rise of $3
billion before taxes (seasonally adjusted at annual rate) was
concentrated in the large manufacturing industry. A sizable
gain in mining profits and moderate advances in transportation and communications also occurred.
Personal income—total payments to persons for productive
activity plus transfer payments from Government and business—increased at seasonally adjusted annual rates from $277
May 1953
billion in the final quarter of last year to $281 billion in the
first quarter of 1953.
Substantial rise in final demand
Aggregate demand—other than for inventory investment—
continued buoyant with a further increase of $8}£ billion at
annual rates over the December quarter. This was about
four times the increase in total national output, the
difference representing the net decline in the rate of inventory
accumulation from the temporarily increased fourth-quarter
rate.
More than one-fourth of the total increase in output in
the final quarter of last year todk the form of an increase
in business inventories. This reflected largely a rebuilding
and balancing of stocks required as a consequence of the
supply interruptions occasioned by the steel strike. With
the completion of this restocking operation, inventories
showed only small additional advances in the opening
quarter of the year. This indicated that, for the economy as
a whole, output was not "backing up."
The shift in recent quarters can be seen readily from the
following summary.
1952:
1st quarter_
2d
3d
4th
Inventory
Gross national
product
Final sales
change
[Billions of dollars]
339. 7
342. 6
343. 0
359. 0
339. 1
342. 5
339. 3
350. 9
0. 6
.1
3. 7
8. 1
361.0
359.3
1.7
1953:
1st quarter
Of special note in the continued rise in final demand wf
the fact that the bulk of the increase occurred in the civilian
sectors of the economy. National security outlays accounted
for less than one billion dollars of the total $8K billion increase
in final sales. Consumer purchases accounted for $4
billion, fixed capital investment for new plant and equipment
and new houses for $3}£ billion, and Government outlays
(Federal, State and local) for purposes other than national
SUEVEY OF CUREENT BUSINESS
May 1953
security for $1 billion. A decline occurred in net foreign
investment.
The changes in the gross national product since the first
quarter of last year are illustrated in the chart. It can be
seen that the continued growth of the national output has
derived its chief impetus from the demands of the civilian
economy.
Defense expenditures stabilizing
During the past several months it has become increasingly
evident that the demands of the national security program
upon the economy are leveling off. Security expenditures
have risen at a slackened pace and at a $51-billion annual
rate are no longer taking an increasing proportion of the
national product.
Somewhat more than half of these security outlays are
comprised of Defense Department operating expenses, including military payroll, food, clothing, and the general operation
and maintenance of equipment and facilities. The sum of
Civilian Final Purchases account for
most of increase in output
over a year ago
0
BILLIONS OF DOLLARS
+5
+10
+15
1
I
1
+20
+25
1
GROSS NATIONAL
PRODUCT
NATIONAL SECURITY
EXPENDITURES
CHANGE IN INVENTORY
INVESTMENT
~n
]
i
CIVILIAN FINAL
PURCHASES
1
|
1
I
I
••••.
^^^^^^^
NET FOREIGN ^^
INVESTMENT ^§§§§
GOVT. OTHER THAN
NATIONAL SECURITY
|
1
1
1
* INCLUDING RESIDENTIAL CONSTRUCTION.
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
Personal consumption expenditures registered a further
appreciable advance in the first quarter. The fourth-tofirst quarter rise was from $222 billion to $226 billion at
seasonally adjusted annual rates.
The advance in consumer spending was broadly in line
with the rise in disposable personal income, with no apparent
shift in overall spending-saving patterns (see accompanying
chart). With consumer prices varying little on the average,
most of the first-quarter rise in consumption represented a
gain in real terms as well as in dollar value.
Consumer purchases of durable goods rose from an annual
rate of $27% billion in the fourth quarter of last year to $30
billion in the first three months of 1953. As in the preceding
quarter, automotive expenditures constituted a disproportionately large share of the total increase.
Autos lead advance in durables
PERSONAL CONSUMPTION EXPENDITURES
DOMESTIC FIXED
INVESTMENT *
According to the available monthly indicators of industrial
activity the moderate upward trend of the Nation's output
has been maintained at a fairly uniform rate—despite divergent movements in separate industries—since last September.
This fact tends to be obscured in the quarterly statistics by
the steep rise that occurred from the third to the fourth
quarter of last year.
By the end of the third quarter output had substantially
regained its earlier pace, and has since continued a moderate
and steady advance. This general pattern is mirrored in
the monthly movement of wage and salary disbursements of
private industries, as well as in the Federal Eeserve Board
index of industrial production.
1
Consumer buying was major
factor in this increase
i
1
1
CIVILIAN FINAL
PURCHASES
Steady uptrend since September
Demand for Gross National Product
CHANGE, FIRST QUARTER 1952 TO FIRST QUARTER 1953,
SEASONALLY ADJUSTED, AT ANNUAL RATES
-5
1
these expenses has changed little since the third quarter of
1951, reflecting the stability in the size of the Armed Forces.
Total national security outlays continued to grow as a
result of the rise in major procurement—such as planes,
ships, and munitions—and in military construction. In
recent quarters, however, the aggregate of major procurement
and construction has tended to stabilize, with items that
were tapering off nearly offsetting categories that were still
expanding.
53-56
The pickup in automotive expenditures began in the second
quarter of last year but was interrupted by the steel shortages
which caused a temporary drop. By the final quarter of the
year, however, outlays had regained their second-quarter
rate and continued to rise in the opening quarter of 1953.
At an annual rate of $13 billion, first-quarter automotive
outlays were $3}£ billion above the corresponding period
in 1952.
New car production exceeded the brisk current sales, as
dealers7 stocks were stepped up seasonally in anticipation of
a still more active market in the warm-weather months
ahead. Output climbed steadily, totaling 1}£ million units
in the first quarter, with somewhat higher production goals
announced for the next.
The first-quarter advance in other consumer durables was
considerably less than in the automotive group. It is, however, noteworthy that these outlays—including furniture
and housefurnishings, refrigerators, washing machines and
the broad array of household appliances which fall in this
category—have risen steadily since mid-1952. Total consumer spending for these durables amounted to $16K billion
on an annual basis—about $1 billion higher than the 1952
low point.
SUEVEY OF CUEEENT BUSINESS
May 1953
Table 1.—National Income and Product 1952 and First Quarter 1953 1
[Billions of dollars]
Seasonally adjusted at annual rates
Unadjusted
1952
1952
Item
I
II
III
IV
1953
1952
1953
I
I
II
III
IV
I
(2)
288.0
285.6
287.7
300.2
(2)
186.9
177.8
145.6
10.2
21.9
9.2
190.3
181.0
148.3
10.4
22.4
9.3
197.9
188.2
155.3
(22)
()
9.6
201.6
191.8
158.7
(22)
()
9.8
NATIONAL INCOME BY DISTRIBUTIVE SHARES
290.4
National income
70.6
71.3
72.3
76.1
190.4
181.1
148.7
(22)
()
9.2
45.9
43.5
35.5
2.5
5.5
2.4
46.6
44.3
36.1
2.6
5.6
2.4
47.7
45.4
37.6
2.6
5.2
2.3
50.1
47.9
39.5
2
(2)
()
2.2
49.7
47.1
38.7
2
(2)
()
2.6
186.5
177.4
145.8
10.0
21.7
9.0
Proprietors' and rental incomp 3
Business and professional
Farm
Rental income of persons
52.5
27.6
15.2
9.6
13.0
6.8
3.8
2.3
13.0
6.9
3.7
2.4
13.1
6.9
3.8
2.4
13.4
7.0
3.9
2.5
13.4
7.1
3.7
2.5
52.1
27.3
15.4
9.4
51.9
27.6
14.8
9.5
52.5
27.5
15.2
9.8
53.6
28.2
15.5
10.0
53.6
28.6
14.9
10.1
Corporate profits
and inventory valuation adjustment
r,nrpr>ratft profits before tav
Corporate profits tax liability
Corporate profits after tax
Inventory valuation adjustment
40.5
39.7
21.8
17.9
.8
10.0
10.0
5.5
4.5
.0
10.0
9.6
5.3
4.3
.4
9.7
9.5
5.2
4.3
.1
10.8
10.5
5.8
4.7
.3
8
8
-i
42.7
42.7
23.4
19.3
39.9
38. 2
21.0
17.2
1.7
37.8
37.2
20.4
16.8
.6
41.5
40.3
22.1
18.2
1.2
(22)
( 2)
(2)
()
-.5
Net, interest
Addendum: Compensation of general government employees
7.0
30.7
1.7
7.6
1.7
7.7
1.8
7.4
1.8
8.0
1.8
8.0
6.7
30.0
6.9
30.5
7.1
31.1
7.2
31.3
7.4
31.3
Compensation of employpps
Wages and salaries
Private
Military
Government civilian
Supplements to wages and sal an' PS
GROSS NATIONAL PRODUCT OR EXPENDITURE
Gross national product
Personal consumption expenditures
Dnrahlp goods
Nondurable goods
Services
Gross private domestic investment
New construction
Residential nonfarm
Ot.hp.r
Producers' durable equipment
Change in business inventories, total
Nonfarm only
Net foreign investment
Government purchases of goods and services
Federal
National security
National defense
Other national spcnrity
Other
Less! Government sales
State and lonal
346.1
83.4
83.3
85.2
94.2
89.2
339.7
342.6
343.0
359.0
361.0
216.3
25.8
119.0
71.5
50.5
5.5
27.4
17.7
53.2
6.4
29.1
17.8
52.8
6.0
29.0
17.8
59.7
7.9
33.6
18.2
53.7
6.6
28.3
18.8
213.2
25.2
118.0
70.0
214.9
26.4
117.8
70.8
215.0
24.2
118.9
71.9
222.0
27.3
121.4
73.3
226.2
29.8
121.7
74.6
52.1
23.5
11.1
12.4
25.5
3.1
2.4
14.1
5.0
2.2
2.8
6.4
2.7
2.5
10.2
5.9
2.8
3.1
6.6
-2.3
-2.5
13.4
6.5
3.1
3.4
5.9
.9
.8
14.4
6.1
3.0
3.1
6.6
1.7
1.5
15.9
5.3
2.4
2.9
7.0
3.6
3.4
50.0
23.7
11.0
12.7
25.7
.6
-.1
49.3
23.6
11.0
12.6
25.7
.1
-.8
51.7
23.0
10.9
12.2
25.0
3.7
3.0
57.3
23.7
11.6
12.0
25.6
8.1
7.5
54.4
25.2
12.2
13.0
27.^
.0
.5
.1
-.5
—.1
-.6
2.2
.4
-1.6
-.9
-2.0
77.8
54.4
49.2
46.6
2.6
5.6
.4
23.4
18.2
12.8
11.6
11.0
.6
1.3
.1
5.4
19.7
13.7
12.6
11.8
.8
1.3
.1
6.0
19.6
13.7
12.4
11.7
.7
1.4
.1
5.9
20.3
14.2
12.6
12.1
.5
1.6
.1
6.1
20.2
14.4
12.8
12.2
.6
1.6
.1
5.8
74.4
51.2
46.4
44.0
2.4
5.2
.4
23.2
78.0
54.9
50.3
47.2
3.0
5.1
.4
23.0
77.9
54.8
49.6
46.8
2.8
5.6
.4
23.1
80.6
56.6
50.4
48.4
2.0
6.5
.3
24.0
82.4
57.5
51.2
49.0
2.2
6.5
.3
25.0
268.3
64.4
65.9
67.1
70.9
69.0
263.0
264.4
268.9
277.0
281.3
34.0
30.7
3.3
12.0
11.0
1.0
7.2
6.3
.8
8.0
7.2
.8
6.9
6.2
.7
12.6
11.5
1.0
33.5
30.4
3.2
33.6
30.4
3.2
34.1
30.8
3. 3
34.6
31.3
3.3
35.7
32.3
3.4
234.3
216.3
18.0
52.4
50.5
1.9
58.8
53.2
5.5
59.1
52.8
6.3
64.0
59.7
4.3
56.4
53.7
2.8
229.5
213.2
16.3
230.8
214.9
15.9
234.8
215.0
19.8
242.5
222.0
20.5
245.6
226.2
19.5
346.1
83.4
83.3
85.2
94.2
89.2
339.7
342.6
343.0
359.0
361.0
28.1
27.2
.9
-.2
.1
6.7
6.4
.2
-.4
.1
6.9
6.7
.2
1.8
.0
7.1
6.9
.2
1.3
.0
7.4
7.2
.2
3.3
.0
7.6
6.9
.2
27.7
26.8
.9
1.8
.2
28.3
27.3
.9
1.3
-.2
29.6
28.2
.9
.1
.0
30.4
28.4
.9
(2)
290.4
70.6
71.3
72.3
76.1
288.0
285.6
287.7
300.2
(2)
40.5
8.5
-.1
10.0
2.5
.0
10.0
2.2
.0
9.7
2.1
-.1
10.8
1.8
.0
.o
(2)
(2)2.7
26.7
26.3
.9
1.6
.5
39.9
8.4
.0
37.8
8.6
-.4
41.5
8.8
.0
(2)
.0
42.7
8.5
.1
11.9
5.0
9.1
.9
2.9
1.1
2.1
.2
2.9
1.5
2.2
.2
3.0
1.1
2.1
.2
3.0
1.4
2.7
.2
3.2
1.1
2.2
.2
11.7
5.0
8.9
.9
11.6
5.0
9.6
.9
12.0
5.0
9.3
.9
12.2
5.0
9.0
.9
12.8
5.0
9.1
.9
268.3
64.4
65.9
67.1
70.9
69.0
263.0
264.4
268.9
277.0
281.3
£
DISPOSITION OF PERSONAL INCOME
Personal income
T,ess: Personal tax and nontax payments
Federal
State and local
^
Equals: Disposable personal income
Less: Personal consumption expenditures r
Equals: Personal saving
„,„
.
_
„
„.
RELATION OF GROSS NATIONAL PRODUCT, NATIONAL
INCOME, AND PERSONAL INCOME
Gross national product
_ __„
_
__
"Less: Capital consumption allowances
Indirect business tax and nontax liability
Business transfer paympnts
Statistical discrepancy
Plus: Subsidies less current surplus of government enterprises
Equals: National income
Less: Corporate profits and inventory valuation adjustment
Contributions for social insurance
Excess of wage accruals over disbursements
Plus; Government transfer payments
Ne.t interest paid by govp.rnment
Dividends
Business transfer paympnts
T
,
„.,„.,
Equals: Personal income
1
2
Detail will not necessarily add to totals because of rounding.
Not available.
W
3 Includes noncorporate inventory valuation adjustment.
Source: U. S. Department of Commerce, Office of Business Economics.
9.0
.0
May 1953
SUEVEY OF CUEEENT BUSINESS
Nondurables continue at high rate
In contrast to the appreciable rise in durables, consumer
purchases of nondurable goods, at an annual rate of $121%
Billion, showed only a fractional increase over the preceding
quarter. A moderate decline in clothing purchases was
offset by an increase in total outlays for food and alcoholic
beverages, with spending for all other major classes of nondurables maintained at the fourth quarter rate. In view of
the further decline in food prices during the first quarter, the
rise in food purchases was somewhat larger in real terms.
Clothing expenditures, at an annual rate of $21^ billion,
were still about $1 billion higher than the rate prevailing in
the first nine months of last year.
Consumer expenditures for services continued to increase
in the first quarter at about the same average rate—roughly
$1 billion per quarter on an annual-rate basis—that has prevailed for the past two years. The increase in housing expenditures, reflecting the growth in the number of dwelling
units and the gradual but persistent rise in rents (including
the imputed rental value of owner-occupied homes) was the
principal element in this advance.
into effect in the early phases of the defense buildup. Following the relaxation of these controls around the middle
of last year and their subsequent suspension, commercial
construction has shown steady and increasing advances.
Gains in other types of nonresidential construction
reversed declines in the preceding half year. Thus the 5
percent increase in public utility construction outlays more
than offset the third to fourth quarter decline of last year,
and raised the total plant expenditures of the industry to a
new record. Similarly, the increase in industrial construc-
Billions of Dollars
250
Consumer spending
moved in line with
income in the
first quarter...*
DISPOSABLE
PERSONAL
INCOME-*
Advance infixed investment
The irregular movement of gross private domestic investment—from the seasonally adjusted annual rate of $51%
billion in the third quarter of last year up to'$57% billion
in the fourth, and down to $54^ billion in the first quarter
of this year—was primarily attributable to the sharp changes
in the rate of inventory accumulation.
In marked contrast to this movement, fixed investment
including residential construction), which comprises the
bulk of the total, has risen steadily over the course of these
three quarters—from $48 billion (at annual rates) in the
third quarter, to $49 billion in the fourth, and to $52^ billion
in the first.
The first-quarter advance of $3^ billion at annual rates
reflected widespread gains. These extended to a number of
components that had been lagging over the past few quarters.
Residential construction edges upward
Private nonfarm residential construction rose to slightly
over $12 billion at seasonally adjusted annual rates—the
highest since the first quarter of 1951. This continued the
fourth-quarter rise from the steady $11 billion annual rate
that had prevailed in the first 9 months of last year. A
large part of the first-quarter gain reflected the unusually
"open" winter which enabled construction work to proceed
at a more active pace than is ordinarily possible. The
suspension of the Regulation X mortgage credit controls in
September may also have been a contributing factor.
The high rate of new housing starts during the first three
months of this year is indicative of continued strength in
this important sector of domestic investment.
Pickup in nonresidential construction
The $1 billion advance in private nonresidential construction to a $13-billion annual rate was more marked than the
rise in homebuilding activity. The largest increase—both
in dollar value and in percentage terms—occurred in commercial construction—i. e., in stores, restaurants and garages
and in warehouses, office and loft buildings. These outlays
have been subject to wide fluctuations since early 1950.
They rose sharply after the Korean invasion, and then
dropped back under the restraining influence of the emergency
mortgage credit and materials controls that were put
as the steady rise
in expenditures
for nondurable
goods and
services....
200
175
150
50
was reinforced by
a further pick up
in durable goods
25
I I I I I I I I I II II
I960
1951
1952
1953
QUARTERLY TOTALS, SEASONALLY ADJUSTED,
AT ANNUAL RATES
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
53-57
tion countered the moderate declines experienced in the
second half of last year, and returned these outlays close to
their second-quarter 1952 rate.
Rise in producers' equipment
Business expenditures for new equipment represented
about one-half of the first-quarter increase in fixed capital
investment. Purchases of producers' durable equipment
rose from $25% billion at annual rates in the fourth quarter
to $27% billion in the first.
SURVEY OF CURRENT BUSINESS
6
The trends in this sector are discussed in the review of
industrial output in this issue.
Decline in inventory accumulation
Nonfarm business inventory accumulation declined from
a $7K billion annual rate in the fourth quarter to a $1 billion
rate in the first. This change reflects the lessened need for
inventory rebalancing which was the major factor in the
fourth quarter rise.
The sharpest drop in the rate of inventory accumulation
from the fourth quarter to the first occurred in the durablegoods manufacturing industries which, on the whole, had
succeeded in replenishing their stocks by the end of 1952.
Subsequent movements in each of the first three months of
1953 were small. In the nondurable-goods industries inventories continued to be trimmed down, as in the fourth quarter
of last year, but liquidations were more moderate.
In retail trade a sizable advance in durable goods inventories was partly counterbalanced by declines in soft goods.
Total retail inventories registered an appreciable advance for
the quarter which accounted for the largest part of the total
nonfarm inventory change. Whereas the fourth-quarter increase in retail stocks of durable goods had been predominantly in automobile dealers' stocks, the advance in the March
quarter was widely distributed, with all major types of hardgood retailers participating in the increases. It restored the
aggregate value of durable goods stocks to approximately
the high third quarter level of 1951. But over the same
interval, it is important to note, dollar sales have increased
by one-fifth.
A similar contrast in the movement of durable and nondurable inventories occurred also in wholesale trade. However, the changes involved were moderate, and, in general,
did not appreciably alter the inventory position in this sector.
Decline in net foreign investment
Net foreign investment, which measures the excess of exports over imports other than those matched by net grants
May 1953
and gifts to foreign countries, was again negative. It declined from minus $1 billion at seasonally adjusted annual
rates in the fourth quarter to minus $2 billion in the first.
The first-quarter change was mainly attributable to a
decline in merchandise exports, although the moderate decline
in income from foreign investments and the further increase
in government grants were also contributing factors. (The
value of exports corresponding to these grants is included in
gross national product under government purchases.)
The shift in net foreign investment since the third quarter
of last year reflects the fact that United States grants for
foreign military and economic aid have exceeded the net
export balance of goods and services. Foreign aid expenditures have been somewhat higher than in earlier quarters
and the net merchandise export surplus has declined. The
decline was appreciable in the third quarter attributable,
among other factors, to the limited availability of motor
vehicles, machinery, and steel products. In the two succeeding quarters merchandise exports showed considerable recovery though they were still below the rate prevailing in the
first half of 1952.
Government purchases advance
Combined Federal, State and local government purchases
of goods and services were at an annual rate of $82 K billion
in the first quarter as compared with $80K billion in the
final three months of 1952.
National security expenditures which had ranged between
$49% and $50% billions at annual rates since the second quarter of last year, advanced to $51 billion. Their rise was
attributable mainly to the foreign aid programs.
Federal expenditures for purposes other than nationial
security showed no change in the first quarter with a rise in
outlays for farm price support by the Commodity Credit
Corporation offsetting declines in other Federal purchases.
The remainder of the increase in purchases of goods and
services by Government was attributable mainly to the
further expansion in highway and other construction programs of the State and local governments.
The Flow of Income
Trend of Government Purchases
BILLIONS
Personal income in the opening quarter of 1953 reached
an annual rate of $281 billion—up $4 billion from the fourth
quarter of last year. This brought the combined increase
for the half year ending with the March quarter to $12 billion
at annual rates, only $K billion less than the increase for the
entire preceding year. All major income shares either advanced or maintained the high levels of the preceding
quarter with the exception of farm proprietors7 net income.
This was down moderately, primarily as a result of the
further decline in agricultural prices.
OF DOLLARS
100
TOTAL GOODS
AND SERVICES
\
60
Private payrolls up
40
20
i STATE AND LOCAL
I
I
I960
I
I
I
1951
I
I
I
I
I
I
1952
I
I
I
1953
QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES
•U. S. DEPARTMENT
OP COMMERCE. OFFICE OF BUSINESS ECONOMICS
53~65
Wages and salaries, at an annual rate of $192 billion, constituted approximately $3% billion of the increase in the
personal income flow, with private industries accounting for
virtually all of the rise. Further increases in employment
and in hourly earnings appear to have been about equally
important in the recent change. The effect of these factors
was partially offset by a decline in the average workweek.
Manufacturing industries accounted for roughly four-fifths
of the total private-industry advance. As in the fourth
quarter of last year, increases were heavily concentrated in
the durable-goods sector, all major industries in this group,
with the exception of lumber, registered further gains, with
May 1953
SUEVEY OF CURRENT BUSINESS
the largest, percentagewise in general and electrical machinery and transportation equipment. The latter reflected
primarily the expanded rate of activity in the automotive
industry.
Payroll increases in the nondurable-goods manufacturing
industries were on the whole moderate. The rubber industry showed a sizable percentage gain over the fourth quarter.
Paper and petroleum were virtually the same as in the preceding quarter, while textiles registered a moderate decline.
Payrolls in this industry were, however, still more than 10
percent above the first quarter of 1952.
Movements in the other commodity-producing industries
were relatively small and mixed in character so that the
group showed little change from the fourth quarter.
Wages and salaries in the distributive industries continued
their uptrend, led mainly by the further expansion in retail
trade. Transportation, communications and public utilities
reported little change from the preceding quarter. Payrolls
in the service and finance industries moved up at the gradual
rate which characterized their behavior last year.
Government wages and salaries, at an annual rate of $33
billion, were about the same as in the fourth quarter. A
small decline in Federal payrolls was offset by a further
gradual rise in the wage payments of State and local governments. Since the first quarter of 1952 the latter have risen
by approximately $1 billion at annual rates, while Federal
payrolls—military and civilian combined—have remained
virtually constant.
Nonfarm proprietors' income up—-farm down
Proprietors7 and rental income, at an annual rate of $53 K
billion, showed no change from the fourth quarter of 1952.
A moderate decline in the net.income of farm proprietors
'xraset a further increase in nonfarm business earnings. The
latter was attributable chiefly to the continued rise in the
volume of retail activity.
The reduction in farmers' net income, from an annual rate
of $15K billion in the fourth quarter to $15 billion in the
first, reflected the impact on cash marketings of the continued decline of both livestock and crop prices. Although
crop prices showed a somewhat larger relative decline, their
effects on seasonally adjusted crop marketings were partially
offset by an increase in the volume sold. In the case of
livestock, physical volume as well as prices were off so that
these marketings accounted for the larger portion of the
total decline.
Rental income of persons showed a moderate increase over
the preceding quarter, continuing the trend in evidence since
the end of the war.
Other elements of personal income
Dividends and personal interest income—which together
comprise about 7% percent of total personal income—increased but fractionally over the December quarter. Since
mid-1951 dividends have varied within the comparatively
narrow range of $9 to $9K billion at annual rates, despite
shifts in their industrial composition. Dividend payments
were at the lower limit of this range in the past two quarters.
Personal interest income, on the other hand, has displayed
a gradual but persistent rise for the past several years.
Government transfer payments accounted for about onehalf billion dollars at an annual rate of the total increase in
the flow of personal income in the opening quarter. Among
the factors contributing to this rise were increases in unemployment and old-age benefits and payments to Korean veterans, including readjustment allowances and school benefits.
An additional element was supplementary payments to exprisoners of World War II or their survivors under the terms
of legislation enacted last year.
The step-up in benefits of persons receiving social security,
veterans' pensions and public assistance to take account of
the rise in consumer prices—as provided in the 1952 amendments to the Social Security Act—has been a principal factor
in the higher rate of transfer payments since last September.
Trends in Industrial Output
CONTINUED expansion in manufacturing has raised
output roughly 10 percent above a year ago. While extending to all three of the broad groups of manufacturing industries shown on the chart, the rise has been particularly pronounced for the defense and producers' durables group, which
reached a new peak, and for major consumer durable goods.
Production of defense goods has continued to rise, but the
advance has been tapering off. As a consequence, most of
the increase in total production has been for the civilian
economy.
Total durable goods backlogs have not changed much since
last summer as new business has approximated the rate
of outgoing shipments. Reductions in backlogs for some
individual products, such as machine tools, railroad freight
cars, and diesel-electric locomotives, have been offset by
further increases in electrical generating equipment, aircraft,
primary metals, and fabricated structural metal products.
Manufacturing requirements have kept industries producing basic metals operating for the most part at or close to
capacity rates. Steel and aluminum operations are increas
ing as rapidly as newly constructed facilities become available
for use.
Operations in plants producing nonmetal raw and semifinished materials have been maintained generally in line
with current demand. Activity in the petroleum industry
has tended to level off as stocks of crude and refined products
have been built up over the winter months. Large bituminous stocks in the hands of consumers combined with some
slackening in domestic consumption and a reduction in
exports have resulted in a sharp contraction in coal mine
output.
The expansion in output in the major groups of finished
manufactured goods can be seen in the chart. The indexes
used1 in the chart represent estimates of finished goods output. Derivation of the defense and producers' durable
1. Defense and producers' durables—Based upon Federal Reserve Board's seasonally
adjusted production indexes of fabricated iron and steel and nonferrous metals products,
machinery including ordnance but excluding production of household appliances and radio
and television sets, and transportation equipment excluding passenger cars.
Consumer durable goods—Based on Federal Reserve Board's seasonally adjusted index
of output of major consumer durable goods.
Consumer nondurable goods—Based on Federal Reserve Board's seasonally adjusted production index of nondurable goods excluding chemicals, coke, most paper products, leather
tanning, and textile fabrics.
All of the indexes have been recomputed to quarterly average first half 1950 as a base.
SURVEY OF CURRENT BUSINESS
8
goods group required approximations to eliminate consumer
durable goods output, which is shown separately.
The rise in output of defense and producers7 equipment,
which accounts for roughly one-third of total finished goods
output, rose 5 percent from the fourth quarter of 1952 to
the first quarter of 1953 and was 12 percent higher than a
year ago. It was up nearly three-fourths from the immediate
pre-Korean period.
The various major metal working industries all shared in
the first quarter advance although there was some variation
in individual products. Above average increases in output
occurred in such lines as truck trailers, electronics, and
many types of industrial and electrical machinery. Smaller
gains were reported for machine tools, office and store
equipment, and engines and turbines. Output of dieselelectric locomotives and motor trucks declined. The latter
drop from the high fourth quarter rate was due in part to
model changeovers for several important producers during
this period.
Activity in the machinery industry—an important supplier
of equipment for both the facilities expansion and the defense
programs—has shown a strong upward trend. Output for
the group as a whole was 6 percent higher than in the previous
quarter and about double the immediate pre-Korean period.
Deliveries made to customers by the machine tool industry
are running well over $100 million a month, a rate which has
been maintained for the past seven months. New business,
which had been generally drifting downward for the past 2
years, picked up somewhat in recent months in response to
May 1953
The railroad equipment industry has been operating well
below capacity for some time, and with deliveries exceeding
new orders in most months since March 1951 backlogs have
been reduced. Freight car construction has increased from
the relatively low volume of last summer and first quarter
deliveries were the best since the January-March 1951 period
but diesel-electric locomotive installations on Class I rail-
Recent Expansion in Consumer
Durables Output
Furniture and radio and TV sets are near
earlier highs . . .
INDEX, QUARTERLY AVERAGE, 1st HALF 1950 = 100
150
100
50
(
1
Finished Goods Output
!
I
I
I
1
I
RADIOi AND TV SETS
I
I
I
I
I
I
1 I
but autos and homefurnishings while up
continues upward
substantially are still below former peaks
150
INDEX, QUARTERLY AVERAGE, 1st HALF 1950 = 100
200
PASSENGER CARS
DEFENSE AND PRODUCERS9
DURABLE GOODS
too
\
150
50
CARPETS AND RUGS <
I
too
t
I
I960
J_
1951
1952
1953
SEASONALLY ADJUSTED
MAJOR CONSUMER
DURABLE GOODS
50
J
I
1950
U. S. DEPARTMENT
f
I
195!
SEASONALLY
I
I
1952
I
I
1953-
ADJUSTED
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS 53 ~54
Government permission to builders to accept a larger proportion of orders for civilian account. Nevertheless, the
rate of new orders was only about two-thirds as high as for
the year 1951. The industry on April 1 had unfilled orders
equivalent to 9 months' work at the current rate of deliveries,
a moderate reduction since the first of the year.
Output of direct defense materiel as represented by manhours worked in plants producing ordnance, aircraft, and
ships, has advanced further. This segemnt of manufacturing is still contributing importantly to the rise in the total
index.
OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
53-55
roads have declined since the turn of the year. Backlogs
on April 1 represented 10 months' shipments for freight
cars and four and one-half months' for locomotives at the
first quarter rate of production.
Expansion in consumer durables
The increased availability of metals in the latter part of
1952, which brought about a sharp upswing in the production
curve of major consumer durable goods, occurred at about*
the same time as the general pickup in consumer buying.
Following a low third quarter, production advanced sharply
in the final three months of 1952 and this improvement
extended into the January-March 1953 period although at a
(Continued on page 22)
by Louis J. Paradiso and Genevieve B. Wimsatt
Business Inventories—
Recent Trends and Position
1HE]1 rapid expansion in business inventories during the last
four months of 1952 has been followed by relative stability so
far this year. Such further additions as have occurred were
in the durable goods industries, while the nondurable goods
areas showed a small liquidation. The result of cautious
Business Inventories with a book
value of $75 billion in March 1953
were distributed as follows:
BILLIONS OF DOLLARS
50 nearly three-fifths
in manufacturing
NONDURABLES
40 —
DURABLES
""
3O —
more than
one-fourth
in retailing
20 and one-eighth
in wholesaling
10 -
Manufacturers' Inventories were
about equally divided among . . .
— F5urchased
20 nmaterials
Goods in
process
Finished ~~
ship ping stocks
10 —
—
%'
:
-\
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
|
53 ~62
business buying and increased consumption and fixed investments held total inventories to around $75 billion, seasonally
adjusted, during the first quarter.
Digitized for250453°—53FRASER
In view of the attention currently focused on this volatile
sector of business, this article examines the character of the
recent inventory changes, the distribution of inventory holdings, and their relative position by industrial groups. Several conclusions are apparent from the analysis:
1. About four-fifths of the entire rise of $2.4 billion in the
book value of business inventories since August 1952 occurred
in five areas—motor vehicle, other transportation equipment, primary metal and fabricated metal manufacturing
industries, and retail automotive dealers. Although part of
the increase in these groups was associated with the steel
strike in the summer of 1952, it also reflected the expansion
required to support higher sales. In the first quarter of
this year these groups showed only a small accumulation.
2. Considering their present composition, business inventories in the aggregate do not appear to be significantly out
of line with the current rate of sales, as gauged by inventorysales relations which have been experienced historically.
3. Inventories held by firms producing or handling durable
goods seem to be moderately high in relation to current sales.
The excess appears to be in part in stocks utilized for defense and related activities.
4. Inventories held by the nondurable goods sectors of
business, on the other hand, do not appear to be out of line
relative to the current rate of sales and, in fact, may be on
the low side.
5. The present inventory-sales balance can be maintained
as long as sales continue at the current high rate. The basis
for wide inventory movements in the absence of a change in
the trend of sales does not appear to be present. Industrial
prices have been stable for some time, and supplies of most
goods are generally adequate for prompt deliveries. Any
significant change in demand would soon make inventories
look out of line, since there is usually a lag in their adjust.ment to the new sales volume.
Inventory rise chiefly in durables
The inventory rise which has occurred since midsummer
of last year, while of significant proportions, has lifted the
overall book value of business inventories at the end of March
to a point only $1.6 billion from the year-ago total. The
movements, however, have accentuated the divergence in
trends in durable and nondurable goods stocks.
The steel shutdown in the summer was accompanied by
some drawing down of stocks and by the end of August the
value of business inventories had reached a low point of
$72.7 billion (seasonally adjusted) for the year. At the
same time production and deliveries of many durable goods
had slowed down appreciably. For example, retail deliveries
of passenger cars in the third quarter of 1952 averaged
NOTE.-MR. PARADISO IS ASSISTANT DIRECTOR AND CHIEF STATISTICIAN AND MISS WIMSATT IS A MEMBER OF THE BUSINESS STRUCTURE
DIVISION OF THE OFFICE OF BUSINESS ECONOMICS.
9
10
SURVEY OF CURRENT BUSINESS
273,000 monthly, compared with 414,000 monthly in the
second quarter of that year, and with 410,000 monthly in
the third quarter of 1951; similarly, shipments of the nonelectrical machinery industry dropped 10 percent from May
to August, on a seasonally adjusted basis.
With the resumption of steel deliveries, production moved
upward in the metal producing and fabricating industries.
Also, demand became more buoyant in most major sectors
of business, reflecting a number of favorable influences in
addition to the increased flow of steel. To support the
rising production and sales volume, business inventories
were expanded by more than $2 billion in the last four months
of 1952. This accumulation also permitted the refilling of
pipelines in many durable goods sectors in which they had
earlier been partly depleted because of the steel shortage.
During the first 3 months of this year, inventory accumulation was relatively small—one-quarter as much as in the
fourth quarter of 1952. The rise during the quarter in total
business inventories amounted to about $400 million, on a
seasonally adjusted basis. Table 1 indicates the magnitudes
and character of the recent shifts by major groups.
Five major groups of firms—producers of motor vehicles,
other transportation equipment, primary and fabricated
metals and products, and the automotive retail dealers—
have accounted for nearly four-fifths, or $1.9 billion, of the
entire rise of $2.4 billion in the value of business inventories
since the end of August of last year. At the end of March
of this year, these firms had a book value of inventories of
$14.7 billion, or less than one-fifth of the value of all business
inventories. Moreover, the motor vehicle producers and
retail automotive dealers were responsible for nearly threefifths of the total increase in the book value of business
inventories.
Most of the accumulation in the 5 major groups occurred
during the last 4 months of 1952, with each group showing a
sizable increase; in the first 3 months of 1953 these firms
showed only a modest inventory rise of $0.3 billion in the
aggregate.
Business firms in industries other than the 5 listed above
expanded their aggregate inventories by less than a half a
billion dollars, or 1 percent, in the last 4 months of 1952 and
the changes were relatively small among the component
groups. Thus, the inventory accretion in that period was
limited to those relatively few industries where demand
picked up sharply and producers attempted to restore the
inventory position they held prior to the steel shutdown.
During the first three months of 1953, the group of firms
other than the five mentioned showed virtually no change in
their inventories, in the aggregate. The durable goods
sectors of these groups, however, showed a sizable inventory
increase of a billion dollars which was about offset by a
decline of nearly the same amount in the nondurable goods
sectors.
The value of inventories held by nondurable goods manufacturers declined in the past 6 months—partly due to lower
replacement cost—despite a rise in their sales; retail and
wholesale nondurable goods firms just maintained their
August 1952 level of inventories though their aggregate
sales rose by nearly 3 percent, on a seasonally adjusted basis,
from August 1952 to March 1953.
A number of important nondurable goods industries
showed moderate reductions in the value of inventory holdings from August of last year to March of this year, despite
rising sales trends. These include producers of textile mill
products, foods, chemicals^ and petroleum products. Thus,
firms in these industries have displayed a rather cautious
inventory policy, particularly since, as will be indicated
later, nondurable goods inventories may have been somewhat low in relation to sales in the past year.
Actually, except for rising demands and the steel situation,
May
the other revelant factors have not been conducive to an
aggressive inventory policy. Industrial prices throughout
the past year and so far this year have been stable. Supplies
of most goods have increased. Even for those commodities
under control the gradual expansion in capacity has made fo&
a progressive easing in these markets. Finally, the international tensions in this period have not shown signs of
worsening.
Present distribution of inventories
The distribution of inventories among the various segments
of business is of considerable interest since, depending on the
industry, different practices are followed with respect to size
Table 1.—Value of Business Inventories
[Billions of dollars, seasonally adjusted]
Book value
Item
1952
Change in book value
1953
Mar. 31 Aug. 31 Dec. 31 Mar. 31
Total
Manufacturing
Retail
Wholesale
Durable goods firms
Aug.Dec.
1952
73.6
72.7
74.8
75.2
2.0
43.2
20.3
10.1
43.1
19.7
9.9
43.8
20.8
10.1
43.8
21.2
10.2
.7
1. 1
.3
Dec.
1952Mar.
1953
0.4
0
Mar.
1952Mar.
1953
1.6
.4
.1
.5
.9
.1
38.0
36.8
38.7
40.0
2.0
1.3
2.0
Manufacturing
Motor vehicles
and equipment
Other transportation equipment, primary and fabricated metals
and productsOther durables. .
23.4
23.2
24.3
24.6
1.1
.3
1.2
2.7
2.6
3.0
3.1
.4
.1
.4
7.4
13.3
7.6
13.0
8.1
13.2
8.1
13.3
.5
.1
.2
Retail
Automotive
dealers
Other durable
goods stores. __
9.6
8.6
9.4
10.1
.7
.8
.7
0
ft
3.1
2.6
3.3
3.5
.7
.2
.4
6.5
6.0
6.1
6.6
.1
.5
.1
Wholesale
5.1
4.9
5.1
5.3
.1
.3
.8
Nondurable goods firms
35.6
35.9
36.0
35.1
.1
-.9
-.5
Manufacturing, _ _ _ _
Retail
Wholesale
19.8
10.7
5.0
19.9
11.1
4.9
19.5
11.5
5.1
19.2
11.1
4.8
—.4
.3
.1
-.3
—.4
-.2
—.6
.4
-.2
13.2
12.8
14.4
14.7
1.6
.3
1.5
60.4
59.9
60.4
60.5
.4
.1
.1
Addendum:
Motor vehicles —
producers and
dealers; producers
of other transportation equipment,
and primary and
fabricated metals
and products
Other business firms.
0
Source: U. S. Department of Commerce, Office of Business Economics.
and character of purchases for inventories, the timing of
inventory investment in relation to sales movements, and the
volume of inventory holdings in relation to sales. Manufacturers generally are concerned with policies at different
stages of fabrication—working stocks consisting of purchased
materials and goods-in-process, and shipping stocks of goods.
Because these producers are dependent upon orders placed
by other sellers, they are often caught by pressures of order*
cancellations or by demands for speeding up deliveries, so
that inventories at the factory level are subject to wider
fluctuations than is the case for other firms.
Retailers' stocks normally move directly in response to
sales, and here the consumer is usually the controling agent
in shaping the inventory swings. Wholesalers' inventories
May 1953
SUEVEY OF CURRENT BUSINESS
show smaller fluctuations than those of retailers and producers. This is so because wholesalers usually have a more
direct control over their inventories, gearing their needs
closely with firm orders and recent sales trends.
The chart shows the relative magnitudes of the value of
the inventory holdings among
the three industrial groups
as of the end of March 1953.1 The greatest concentration
of inventories is in the manufacturing sector. Three-fifths
of the book value of business inventories at the end of the
first quarter of 1953 were iti manufacturing industries, with
the durable goods industries holding 55 percent of the
manufacturing total.
Also of interest is the fact that these proportions tend to
change very slowly. For example, in mid-1950, when defense
inventories comprised a very small fraction of the total,
manufacturers' inventories constituted the same proportion
of total business inventories as today—55 percent—and the
distribution as between durable goods and nondurable
goods producers was about the same as now.
Furthermore, five major manufacturing industries, namely,
the primary and fabricated metals, machinery, motor vehicles, and food industries, account for about half of the total
value of manufacturing inventories.
Factory stocks currently are divided by stages of fabrication as follows: Purchased materials, 37 percent of total;
goods-in-process, 29 percent; and goods finished for shipment, 34 percent.
At the end of March one-fourth of the value of business
inventories was in retailers' hands and one-eighth of the
total value was held by wholesalers. In both retail and
wholesale the value of inventories was equally distributed
as between the durable and nondurable goods groups.
Retail stocks are concentrated in three major kinds of business -the automotive, apparel, and general merchandise
stores—which hold about half of the total value of retail
inventories. Here again the proportions have been relatively
constant—the same distribution prevailing, for example, in
June 1950.
Finally, the distribution of sales of the 3 industries was
close to that of their value of inventories—in March 1953,
on a seasonally adjusted basis, 52 percent of total sales of
these industries were manufacturing; 30 percent, retail;
and 18 percent, wholesale.
Defense inventories one-fifth
The character of recent inventory trends has been shaped
in part by changes in stocks of goods earmarked for the production of defense items. Currently, inventories of defense
goods at all stages of fabrication may be estimated conservatively at one-eighth of total business inventories. They
are concentrated in manufacturers' hands and constitute
about a fifth of all factory inventories. Furthermore, most
of the defense stocks are held by durable goods producers,
constituting about a third of their total inventories. These
proportions are rough approximations since not only are
direct quantitative data on the size of defense inventories
extremely fragmentary, but also the items to be considered
as defense inventories cannot be ascertained precisely.
Moreover, the method used in deriving the proportion of
defense inventories was based essentially on the ratio of
defense deliveries to total shipments by industries. This
procedure tends to understate the importance of defense
1. The value of all nonfarm inventories at the end of March of this year amounted to $80.7
billion, seasonally adjusted, of which 93 percent, or $75 billion, was held by 3 industrial
groups—'manufacturers, retailers, and wholesalers. In this discussion, business inventories
refer to the book value held by these three groups. It should be noted that in the recent period
since industrial wholesale prices have shown little change, movements in the book value of
inventories approximate those in physical volume. For a detailed discussion of methods
of inventory accounting and their relation to physical volume see the article in this issue,
"Lifo Inventories and National Income Accounting."
11
stocks since defense deliveries are not
yet commensurate
with inventories held for defense work.2
Movements in defense inventories follow a somewhat
different pattern of timing relative to sales from those of
civilian stocks. The latter usually continue to decline for
several months after sales begin to expand and also keep
rising for some time after shipments turn down. Defense
inventories, in contrast, advance sharply even though deliveries may be practically negligible and begin to decline while
deliveries are still in the expanding phase. The reason is
that defense inventories are keyed to specific contracts which
generally require a long period of preparation to reach peak
deliveries, and to the trend in unfilled orders. As production
reaches large volume, the turnover of inventories is more
rapid.
Since June 1950, the accumulation of defense inventories
has accounted for more than half 7of the total physical volume
of goods added to manufacturers stocks. The great bulk of
the increase occurred in the second half of 1950 and in 1951.
During 1952 inventory building for defense contracts generally leveled out, along with the slowing-up in the increase
in deliveries of defense goods after the first quarter. Data
are not available to chart the precise course of defense inventories.
Durable goods-in-process inventories high.
Changes in the composition of durable goods producers'
inventories by stages of fabrication, however, throw some
indirect light on the changes. These shifts are illustrated in
the chart covering the period from 1948 forward.
The buying splurge in the summer of 1950 resulted in
sizable liquidation in finished durable goods stocks. These
were quickly rebuilt and shipping inventories of durable
goods manufactures moved up to a peak in the late spring
of 1952. The rapid growth in early 1952 was in some part
an involuntary accumulation of consumer durables. It also
included some war material awaiting shipment. The steel
strike, together with the pickup in private demand, brought
a correction in these stocks. In recent months some accumulation has been evident but shipping stocks of these producers are not out of line with deliveries.
Purchased materials were accumulated at a rapid pace
following the onset of hostilities in Korea—nearly doubling
in book value by the end of 1951. However, the purchased
materials stocks tended moderately downward in the first
part of 1952 although sales continued to rise. The moderate
liquidation was rapidly accentuated by the steel strike at
midyear. The subsequent buildup of purchased materials
stocks was sufficient to restore book values to the previous
high. Since the first of the year, liquidation has again
occurred as sales have continued to expand.
Durable goods-in-process inventories have expanded
steadily since mid-1950, increasing by nearly $600 million in
the first quarter of this year. The apparent excess of this
2. The estimates embrace a definition of defense in ventories consistent with the concepts
and coverage of the inventory series of the Office of Business Economics. Included as defense
stocks are all materials, owned by manufacturers, awaiting processing, in process, or awaiting
shipment in the fulfillment of direct military or defense contracts and subcontracts. The
figures exclude Government-owned materials located either in private factories or warehouses or on Government property, such as arsenals, depots, ship facilities.
It was possible to obtain from a number of companies the proportion of their inventories
designated for defense. The reports were too few, however, to serve entirely as a basis of
estimation, but they did provide useful corroborative checks of estimates derived from shipments data. Tabulations by the National Production Authority provided information on
the proportion of shipments made under military rated and other direct defense related
orders in the fourth quarter of 1952. The magnitude of defense stocks was roughly determined by applying these percentages by broad industry groups to recent inventory
totals. The results produced a reasonable pattern—in the light of the available scattered
published company data on defense inventories—ranging from 99 percent for the aircraft inindustry to 3 percent for furniture producers. The company data, in large measure, corroborated the estimates, although in some instances modifica^ns were made in the ratios obtained through the use of the shipments on the basis of the direct inventory data reported by
the companies. The estimating procedure hinges essentially upon the assumption that
defense inventories bear the same relation to total stocks as defense shipments do to total
deliveries. In view of the differential timing between deliveries and inventories, it is felt
that this procedure results in some underestimation of the proportion of defense inventories
to total.
SUEVEY OF CURRENT BUSINESS
12
category, relative to current volume of deliveries, is a
reflection largely of defense inventories The long production
periods required for many defense items entail high goods-inprocess stocks. Even when mobilization programs reach
the point where purchased materials stocks need not be
Durable-Goods
Manufacturing Industries
Stocks of goods ready for shipment are
about in line with the current volume of sales . . ,
INDEX, 1948 = 100
200
SHIPMENTS
(SEASONALLY ADJUSTED)
150
100
*V \//"
FINISHED SHIPPING STOCKS
•
(BOOK VALUE, END OF MONTH)
50
and inventories of purchased materials have
been held down relative to shipments...
200
SHIPMENTS
150
(SEASONALLY ADJUSTED)
100
./• \
PURCHASED MATERIALS
(BOOK VALUE, END OF MONTH)
50 tylLL
while goods in process are high relative
to current deliveries, reflecting the
sizable volume of defense output
200
SHIPMENTS
(SEASONALLY ADJUSTED)
150
fOO
GOODS IN PROCESS
(BOOK VALUE, END.OF MONTH)
50 YIN Iniii lii 1 1 1 1 1
1948
1949
I960
1951
1952
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
1953
53-61
increased, goods-in-process book values continue to expand
as successive labor and other costs are added in.
In the following sections, trends in inventory-sales relations
are discussed. It is to be recalled that the inclusion of
defense inventories in the initial mobilization period raised
the ratios somewhat above what they would have been for
May 1953
civilian stocks alone. This was particularly true during the
months of inventory building, blueprinting, and other preliminaries which precede actual production and deliveries.
Inventory-sales ratios lower
It is common practice among businessmen to gauge their
inventory position by comparing the current ratio of inventories to sales with some past period which is considered
normal. Indeed, many attempt to maintain the ratio.
This procedure is simple, easily applied, and often provides a
timely guide to inventory policy.
While inventory-sales ratios are useful indicators, they
must be applied with caution, particularly in comparisons
over two periods when sales are substantially different.
Past experience indicates that with a growing volume of sales
or output, stocks are expanded less rapidly, reflecting a more
rapid turnover of inventories.
This suggests that the inventory-sales ratio is a positive
indicator of existing or approaching imbalance with sales
only when it is rising or already above the corresponding
ratio of a prior period when inventories and sales were
considered to be in balance. A falling ratio may reflect any
one of three conditions depending on the size and character
of the reduction and the industry or product involved,
namely: a continuation of balance, a correction toward better
balance, or movement toward a low position relative to sales.
The current movements of the inventory-sales ratios are
examined with the foregoing considerations in mind.
In March 1953, the ratio of total business inventories to
sales was 1.5. This compares with 1.4 in March 1950 and
with 1.8 in the prewar period, March 1940. The fact that the
ratio currently is below that of prewar, when sales volume-v
was much smaller, suggests, although not conclusively, thaF
total business inventories may be in broad terms roughly in
line with the current high rate of sales.
At the end of March the ratio of factory inventories to
sales was 1.7; the wholesalers7 ratio was 1.1; and the retailers',
1.5. These ratios, together with those for industry groups
are shown in table 2 together with the corresponding figures
for March last year, in early 1950, and in the prewar year
1940.
The general trend in stock-sales ratios throughout manufacturing has been downward in recent months. For each of
the major manufacturing groups, except transportation
equipment other than motor vehicles, the inventory-sales
ratios currently are below a year ago. The expansion in sales
was a contributing factor in each case. In the groups where
inventories expanded, particularly the durable goods sectors,
sales increased at a faster rate with the result that the inventory-sales ratio was reduced.
Also, except for the apparel and transportation equipment
manufacturing industries, the ratios currently are below the
prewar period of March 1940. On the other hand, for most
of the major manufacturing groups, current inventory-sales
ratios are above those which prevailed in March 1950, a
period when economic activity was moving upward. Exceptions are the metals, motor vehicles, petroleum, and rubber
industries.
Retailer's ratios down
Among retailers the general pattern is much the same.
Stock-sales ratios are generally below year-ago levels as sales
have risen more rapidly than additions to stocks. Most
durable and nondurable goods stores are carrying a lower
quantity of goods relative to sales than in the prewar year of
1940. Stock-sales ratios of durable goods retailers, except
for jewelry stores, are now higher than in mid-1950. How-
SURVEY OF CURRENT BUSINESS
May 1953
13
Factory inventories relative to sales are moderately above
the pre-World War II years and the long-term relationship
The excess centers in durable-goods industries where the high
proportion of long production defense items has expanded
stocks above the usual peacetime pattern
30
I
I
I
I
I
I
I
I
I
I
I
I
DURABLE-GOODS MANUFACTURES
I
I
20
o
O
10
NOTE.- LINES OF REGRESSION WERE
FITTED TO DATA FOR 1927-40
O
O
® QUARTERLY TOTALS, SEASONALLY
ADJUSTED, AT ANNUAL RATES.
SALES LAGGED TWO QUARTERS
OC
LJ
a.
J
o
z
I
I
I
Inventories of nondurables are currently lower relative
to sales than in the late 1920's and 1930's
UJ
I
I
|
I
I
[
I
T
NONDURABLE-GOODS MANUFACTURES
o
o
CO
I
20
o
LJ
>
10
I
30
60
90
SALES (Billions of Dollars)
U. S, DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
&^^<;^:p^^^
120
150
53-6O
SUEVEY OF CUKKENT BUSINESS
14
ever, those of nondurable goods stores are about the same or
lower. These trends are illustrated for specific retail lines in
the chart.
Examination of stock-sales ratios for individual consumer
lines—especially the durables—indicates that most of them
are currently below the year-ago levels. In this category are
new passenger cars, television sets, refrigerators, farm and
home freezers, and electric
ranges. Stocks of new passenger
automobiles in dealers7 hands are higher than a year ago, but
sales have risen more rapidly; currently, these stocks constitute a little less than one month's sales, a rate which is not
high when compared with the best sales years of the prewar
period. Similarly, stocks of television sets are one-fourth
greater than a year ago, but sales have increased nearly 40
percent. Current stock-sales ratios are higher for radios
(other than auto radios), washing machines, and dryers. In
each of these cases stocks have increased substantially, with
sales of radios being lower and of washing machines and
dryers moderately higher.
Table 2.—Inventory-Sales Ratios of Selected Types of Business for
Selected Years Ratio of End of March Inventories to March
Sales Based on Seasonally Adjusted Data
Item
Total business
1940
_ _
1950
1952
1953
1.80
1.44
1.69
1.53
2.21
1.66
1.96
1.72
Machinery (excluding electrical)
Motor vehicles
2.57
n. a.
n. a.
2 41
3.04
1.22
1.82
1.53
1.83
1 95
2.61
1.42
2.20
1.46
2.16
2.90
2.77
1.67
1.88
1.43
1.67
2 03
2.61
1.33
Other transportation equipment
Lumber
Furniture
Stone
Professional and scientific instruments
Miscellaneous (including ordnance)
_ _ __
2.40
2 70
2.55
2 51
n. a.
2.93
2.59
1 35
1.42
1 43
2.61
1.83
3.14
1.84
1.75
1.86
2.86
2.52
3.28
1.53
1.48
1 55
2.38
2.11
1.99
1.24
2.29
5.90
3.04
1.09
1.54
1.01
2.10
5.55
2.00
1.69
1.73
1.14
2.48
5.78
2.54
1.72
2.25
5.36
2.27
1.61
2 28
2.17
.98
1.91
1.30
1 95
1.41
1.02
1.66
1.28
1.80
All manufacturers
Durable goods producers
Primary matels
Fabricated metal products
Electrical machinery
Nondurable goods producers
Food
Beverages
Tobacco
-Textile mill products
Apparel
- -
-
Leather and products
Paper
Printing and publishing
Chemicals
Petroleum
Hubber
All wholesalers
Durable goods
Nondurable goods
.__
_ __
--
- __ -
All retailers
_ __
Durable goods
Nondurable goods
Automotive
- Lumber, building, hardware
Furniture and appliances
Jewelry
Other retail-durable
Apparel
-Drug
Food
General merchandise
Other retail—nondurable
- _--
--
-- - -- --
1.55
.99
2.21
2.00
2.88
1.59
1.40
1.92
2.54
1.59
1.10
1.98
1.33
2.13
1.34
1.06
1.21
1.11
1.84
1.18
1.65
1.96
1.81
.81
.87
.77
1.51
1.36
1.56
1.47
2.02
1.31
1.56
1.25
2.22
1.23
1.94
1.20
1.10
3.11
2.48
4.68
2.83
.79
2.44
2.02
5.98
2.38
1.48
2.90
2.39
4. 14
3.40
1.23
2.86
2.17
3.65
3.50
2.86
2.22
2.86
1.94
2.94
1.98
2.90
1.70
.76
.70
.65
.60
2.35
2.20
2.22
2.22
.56
.70
.77
.76
.92
Note.—1953 figures are March preliminary data.
Source: U. S. Department of Commerce, Office of Business Economics.
The evidence from the comparison of the inventory-sales
ratios suggests that:
1. Because of rising sales over the past year, the inventorysales ratios have been generally reduced, thus implying that
May 1953
an improvement in the inventory position has occurred in
some industries and lines; and
2. The generally lower ratios compared to the immediate
prewar period suggests that inventories in some industries
may be in balance relative to current sales as gauged by this
past experience. In other cases, despite lower ratios, inventories are still not in proper balance.
Inventory-sales relationships
A more illuminating approach in evaluating the current
inventory position is that in which inventory and sales movements are examined over a long span of years so as to try
to discern whether or not some persistent relation has existed
which could be considered as a "norm". This would permit
an evaluation of the current position in terms of such a relationship. This procedure has three basic advantages over
the use of ratios. First, it readily permits taking into account the differential rates of change between inventories
and sales as indicated by the actual historical experience of
the firms. Second, it enables the measurement of any lags
in timing which characteristically have existed between inventory and sales fluctuations. And, third, the impact of
changes in product and market technology on the salesinventory relation can be seen in the "deviations" which are
observed from an average line of relationship.
The main caution required in the use of the relationship
approach is that the average inventory-sales relations based
on prior periods may no longer be valid for the more recent
years, particularly in view of significant changes in the
product mix and in the market factors. Nevertheless, shifts
from the average relation of past periods can be detected by
the use of the inventory-sales relationship approach.
The method is specifically illustrated in the chart. Here,
the period used as a basis for the relationship was 1927 to
1940 and for each of the two groups of producers—durable
and nondurable goods manufacturers—the indicated average
line of relationship closely described the inventory-sales experience in this period. Also, in each case significant deviations
from this average prewar relation occurred during the World
War II period when the product mix shifted considerably
and controls were imposed on materials flows and production operations. The extension of the prewar relation shown
into the postwar years is of assistance in gauging within broad
limits the apparent excess, adequacy, or inadequacy of current inventories—the yardstick in each case being the prewar experience.
For manufacturing as a whole, inventories are a little
higher than would be expected for the current sales totals on
the basis of the prewar relationship. This moderate "overage," however, appears to derive largely from the presence
of defense inventories in the total. When durable and nondurable goods producers' inventories are separated, sharply
contrasting pictures emerge.
The "regression" line in each panel indicates the book value
of inventories associated with sales lagged two quarters on
the basis of the 1927-40 relationship of inventories to sales
of the respective groups. This relationship implies that a
change of $1 billion in sales of durable goods producers has
been accompanied, on the average, with a lag of 6 months
by a change of one-half billion dollars in the book value of
inventories.
Durable goods stocks high
Current inventories of durable goods' producers are seen
to be somewhat high on the basis of this calculation. It
SUEVEY OF CUEKENT BUSINESS
May 1953
should be pointed out that the position of the first quarter
1953 shown on the chart appears exceptionally high because
it is matched with the sales in the third quarter of 1952
which were relatively low as a result of the steel shutdown.
As noted earlier, part of this apparent excess is attributable
to the high percentage of defense stocks which are currently
in process and are not yet matched by a corresponding
flow of deliveries.
From the chart it appears that since 1946, the durable
goods industries held a larger volume of inventories for a
given amount of sales than would be called for on the basis
of the sales-inventory relationship of the prewar years.
Inventory-sales ratios in retail
lines have been declining
since late 1951
Among retailers of durable goods, except
RATIO
4
BUILDING MATERIALS
AND HARDWARE
^AUTOMOTIVE
I
I
I
I
I
I
I
I
I
I
1
1
1
Current inventories of apparel retailers are
higher relative to sales than in 1940, but
are lower for other nondurable goods stores
GENERAL MERCHANDISE
^. FOOD
1
1
1
I960
1
1
1
1951
SEASONALLY
1
1
I
1
1952
1953
ADJUSTED
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS
&&>x^&?£&g^
The relation for the nondurable goods producers based on
the prewar years 1927-40 implies that for each change of
$1 billion in sales, inventories have changed on the average,
with a lag of two quarters, by about $0.6 billion. Inventories held by these producers are currently lower relative
to sales than in the prewar period. It appears that producers of "soft goods" have consistently managed since the
early days of World War II to carry on larger volumes of
transactions with smaller stocks than was true in the prewar
era.
Increasing efficiency of inventory use has characterized
the individual nondurable goods industries. Each of these
major industries currently falls below its historic trend line,
but those having the smallest deviations from the line are
paper, chemicals, and petroleum.
Trade inventories have shown the same long-term trends
as nondurable manufacturing stocks. Increasingly, ^ stock
turnover has improved with the larger sales. No evidence
is now available that trade stocks as a whole are out of line.
In many areas they are somewhat low relative to sales.
Variation in firms' position
APPAREL
1940
The 1946-47 period sa*w the sizable buildup of civilian
inventories which were largely nonexistent at the end of
World War II. As pipelines were filled, inventory positions
moved back toward the line of historic relationship.
But impetus to inventory accumulation deriving not only
from direct defense contracts but also from the corollary
large expenditures for producers7 equipment has again
moved the stock-sales position above the trend line since
mid-1950. It is probable that the "new relationship" is
at least in part the temporary outgrowth of these two sets
of unique conditions.
It should be noted that the apparent "excess" cannot be
accepted with too great a degree of preciseness. When
examination is carried on to industry groups, the paucity of
historical data precludes precise quantitative analyses of
the overage. It may be pointed out, however, that currently
inventories held by each of the durable goods industries,
except lumber and furniture, appear to be above their longterm relationship. Proportionately, the largest apparent
excess on this basis of measurement is in the transportation
equipment groups.
Nondurable goods stocks low
automobiles, current ratios are below
prewar averages
HOMEFURNISHINGS
15
ECONOMICS
53-63
The foregoing analysis was based on the consideration of
the overall position of business inventories and a breakdown
by major industrial groups. Even within these broad groups,
there has been a considerable dispersion in inventory movements and in the trends of the inventory-sales relation.
Within each industry group individual firms have shown an
even more mixed pattern in their inventory movements and
position. Some firms have been able to bring their inventories into better balance with sales while others have done
the reverse, and these divergent tendencies have characterized firms in each of the broad size classes. Thus, while the
impact of changing demand and other factors would affect
all firms insofar as inventory policy is concerned, the magnitude of the adjustment would depend on the particular firm's
situation.
by James P. Daly
LIFO Inventories
and National Income Accounting
_
of the significant developments in business accounting in recent years has been the spread of the last-in first-out
(Lifo) inventory method. Lifo is a method of inventory
accounting whereby the most recent purchases are first
charged to cost of goods sold. Lifo thus reverses the usual
first-in first-out (Fifo) procedure whereby purchases are
charged to cost of goods sold in the historical order in which
they are made. During periods of rising prices, computed
costs will be higher and reported profits lower under Lifo
than under Fifo. Conversely, when prices are falling, costs
will be lower and profits greuter under Lifo than under Fifo.
Over the course of a complete price cycle Lifo profits tend to
be more stable than Fifo profits.
The main purpose of this article is to make available newly
gathered information on the extent to which Lifo accounting
has been adopted by companies engaged in manufacturing
and to explain the relationship of the Lifo method to national
income accounting. The new information is drawn primarily from a questionnaire survey of Lifo use among
manufacturing companies taken in conjunction with the
regular Monthly Industry Survey of the Office of Business
Economics.
Use of Lifo in Manufacturing
There are a number of large firms, particularly in the
primary nonferrous metals, leather, and petroleum refining
industries, which adopted Lifo before the general recognition
of the method for income tax purposes in 1939. These were
industries, marked by large stocks of basic raw materials
with very sensitive prices, which were most seriously affected
by the impact of changing inventory costs on income computed by the Fifo method. Firms engaged in leather tanning and in the smelting and refining of nonferrous metals
were among the most vigorous advocates of the recognition
of Lifo for income tax purposes. When Lifo was first
authorized as an acceptable method in the Revenue Act of
1938, its application was limited to specified raw materials
of these industries.
In 1939 the authorization of Lifo was extended by legislation to cover any taxpayer, and regulations governing its
use were issued by the Bureau of Internal Revenue. The
earliest users of Lifo generally applied the method to stocks
of homogeneous raw materials. In practice, companies
adopting Lifo usually apply the method only to selected
items rather than to the entire inventory.
In 1950 and 1951 the resurgent inflation brought on by the
Korean conflict encouraged many firms to initiate Lifo accounting. The nonelectrical machinery industry and the
rubber products industry showed significant use of Lifo for
the first time in 1950, and additional firms adopted Lifo in
industries already marked by some use of the method. This
trend continued in 1951 with important increases in the
fabricated metal products and nonelectrical machinery
groups. As shown in table 1 and the accompanying chart,
Lifo accounting was reported in use in 19 of the 22 individual
manufacturing industries covered in the 1951 sample survey,
Estimated Book Value of Lifo
and Nonlifo Inventories in
Manufacturing, Year-end 1951
BILLIONS OF DOLLARS
2
4
NONELECTRICAL
MACHINERY
FOOD
CHEMICALS
TEXTILES
ELECTRICAL
MACHINERY
PRIMARY
METALS
MOTOR VEHICLES
PETROLEUM 6 COAL
FABRICATED METAL
PRODUCTS
TRANSPORTATION
EQUIPMENT, N. E. C.
TOBACCO
APPAREL
OTHER DURABLES
BEVERAGES
Growth of Lifo
LUMBER PRODUCTS,
EXCL. FURNITURE
The approval of Lifo for tax purposes does not appear to
have led to a large number of adoptions in 1939 or 1940.
The prospect of inflation combined with high wartime tax
rates made 1941 the most important single year in the growth
of Lifo as measured by the number and industrial diversity
of new users. For the first time Lifo accounting was widely
used by producers of iron and steel, fabricated metal products, textiles, paper, and lumber, and by meat packers.
The number of firms using Lifo grew steadily during the
war and early postwar years, but there is no evidence of a
remarkably heavy influx in any single year. Notable increases in the use of Lifo occurred in the chemicals and
furniture industries in 1942 and in the electrical machinery
industry in 1948.
16
PAPER S
PRODUCTS
STONE, CLAY ft GLASS
NONL1FO
RUBBER PRODUCTS
PRINTING a
PUBLISHING
PROF, a SCIENTIFIC
INSTRUMENTS
LEATHER a PRODUCTS
FURNITURE
• OF BUSINESS ECONOMICS
53-59
May 1953
SURVEY OF CURRENT BUSINESS
and approximately 15 percent of the total book value of
manufacturing inventories was on a Lifo basis. The table
also illustrates the growth of Lifo since 1947 and identifies
the industries in which the most recent increases have
occurred.
In the interpretation of the industry Lifo ratios shown in
table 1, it is important to note that these ratios express the
relation between the book value of Lifo inventories and the
total book value. Under conditions of rising prices, such as
have prevailed since Lifo was introduced, they understate the
relative importance of Lifo inventories in terms of physical
volume. This is so because the book value placed on Lifo
inventories depends on the level of inventory costs prevailing in the original year of Lifo adoption and in other years
when physical increments were added to the stock of goods on
a Lifo basis.
In contrast, Fifo inventories, which constitute the bulk of
non-Lifo holdings, are valued at the most recent costs incurred, or at current market prices if lower than cost, and
thus reflect approximately current prices. An accurate
measure of the relative importance of Lifo inventories in
real terms could be achieved only by the revaluation of book
Lifo inventories in the prices at which non-Lifo inventories
are valued. Such a revaluation would require more detailed
knowledge than is now available of the physical growth of
Lifo stocks and of the types of inventories carried on Lifo in
the various industries.
Concentration in large corporations
Lifo accounting is generally concentrated among largesized corporations. In the primary metals, textiles, and
petroleum industries it has also spread to medium-sized
corporations, but the method is rarely used by small companies. Although very little information is available on the
accounting practices of noncorporate manufacturing firms,
it is likely that Lifo is of negligible importance in this sector.
The limited use of Lifo among smaller companies may be due
to several reasons, such as the relative novelty of the method
and the initial cost of introducing it.
Application to selected inventories
Only in very few cases does a company using Lifo apply
the method to its total stock of goods. The most general
practice of Lifo users is to employ the method in the valuation of selected raw materials. This is in line with the
original interpretation of the Lifo method as applicable to
basic, homogeneous goods. In the petroleum industry, for
instance, "crude and refined oils" are usually valued on the
Lifo basis; in the primary nonferrous industry "metals" are
frequently on Lifo; and in the textile industry the Lifo
method is often confined to "cotton and cotton content."
In recent years, however, there has been an increasing
tendency to extend the Lifo principle to other types of
inventory goods.
The regulations of the Bureau of Internal Kevenue relating
to the mechanics of applying Lifo have been given a gradually
more flexible interpretation during the years of experience
with the method. Following the original conception of Lifo,
the Bureau at first approved its use only in the valuation of
categories of strictly identical goods.
In 1944 this policy was altered to permit the combination
of similar but not identical raw materials into single groups.
Producers of cotton textiles, for example, were allowed to
group together all types of raw cotton despite differences in
length of staple, color, or grade. Prior to this provision a
firm which no longer used a particular type of cotton would
be obliged to liquidate stocks of that type at original Lifo
Digitized for 250453°—53
FRASER 3
17
costs, since it could not replace them, for tax purposes, with
cotton of any other type. In other words, inventories used
up would not be valued at current replacement cost and the
advantage of applying the Lifo method would be lost in these
instances.
In November 1949 the Bureau extended general approval
to the "dollar value" method. The efficacy of Lifo in placing
Table 1.—Estimates 1 of Lifo inventories for manufacturing industries 2, year-end 1951 and year-end 1947
1951
Total
book
value 3
Lifo
book
value
1947
Lifo
percent
Lifo
percent
[millions 3f dollars]
Total manufacturing
_ _
43, 056
6,375
15
22, 650
2,999
13
10
Primary metals
_ _
Fabricated metal products
Electrical machinery
Machinery, excluding electrical
___ __
Motor vehicles and equipment
Transportation equipment excluding motor
vehicles
2,825
2,330
2,875
5,239
2,682
1,254
377
311
616
53
44
16
11
12
2
41
11
3
4
Lumber products except furniture
Furniture and fixtures
Stone, clay and glass products
Professional and scientific instruments
Other including ordnance
1,092
556
865
738
1,511
135
84
73
52
44
12
15
8
7
3
12
11
20, 406
3,376
17
14
3,762
1,252
1,782
3,015
1,732
633
633
225
17
18
12
14
560
44
104
19
3
16
17
987
763
3,064
2,600
816
180
18
14
339
1,194
97
11
46
12
10
46
Durable-goods industries. _ _
Nondurable-goods industries
Food a n d kindred products
Beverages _ _ _ _
Tobacco
Textile mill products
Apparel and related products
Leather and products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber products
__ _ _ _ _ _ _
12
1,939
5
2
16
1
Over 2,300 corporations of all sizes and in every phase of manufacturing activity were
asked to report the book value of their Lifo inventories, if any, at the end of 1951. Firms
using Lifo were also asked to indicate the year in which they first adopted the method. Some
1,800 filled-in questionnaires were returned. For the most part, non-respondents were confined
to smaller companies. Replies to this survey were supplemented by Lifo data from the
published financial statements of large firms not covered by the survey. Lifo estimates for
the rubber products industry are based on a special survey taken by the Rubber Manufacturers Association at the request of the Office of Business Economics.
In the preparation of the regular monthly manufacturing sales and inventory estimates
based on the Monthly Industry Survey, the sample firms are divided into major industry
and minor industry groups and, finally, into total asset size class cells. Corporate and noncorporate figures are handled separately. This classification system was used in processing
the Lifo data. Sample data on Lifo book value were compared with total book value figures
reported by the same corporations to derive sample Lifo ratios for each cell within corporate
manufacturing. These ratios were then applied to the estimated total book value of corporate
inventories for the corresponding cells and the results added to derive the industry Lifo book
value totals shown in table 1. It was assumed that noncorporate manufacturers did not hold
inventories on a Lifo basis. Noncorporate manufacturing inventories account for less than 5
percent of the total and represent the holdings of small companies which very rarely use the
Lifo method.
The Lifo ratios shown for year-end 1947 are based on a similar survey taken in 1948.
2
The above industrial classification is that used in the Commerce Department series of
manufacturers'
sales and inventories.
3
Book value, end of year, as reported in SURVEY OF CURRENT BUSINESS, October 1952,
p. 12.
Source: Office of Business Economics, U. S. Department of Commerce.
the cost of goods sold on a current replacement cost basis was
further increased by this amendment, to the extent that it
permitted the replacement of inventories used up by related
but not strictly identical items on a wider scale than before.
These gradual changes in the policies regarding Lifo have
made the application of the Lifo method practicable and
advantageous for an increasing number of taxpayers.
Primary metals
Over one-fifth of the total estimated book value of manufacturing inventories on Lifo in 1951 was held in the primary
metals industry. The overall industry Lifo ratio of 44 percent is a composite of subgroup ratios of 65 percent for iron
18
SURVEY OF CURRENT BUSINESS
and steel, 35 percent for nonferrous metals, and 15 percent
for other primary metals.
Several major producers of nonferrous metals used Lifo
accounting even before 1939, but it was not until 1941, when
a number of prominent iron and steel firms adopted the
method, that Lifo became an important factor in the industry
as a whole. Further significant adoptions of Lifo occurred
in 1947, 1950, and 1951.
Nine of the 11 largest steel companies and 9 of the 13
largest nonferrous metal companies used the Lifo method in
1951, but the proportion of the total book value that is
carried on trie Lifo basis varies widely for individual companies from less tnan 5 percent to over 90 percent. The
higher Lifo ratio for the iron and steel group stems from the
fact that, on the average, Lifo firms in that group carry a
higher proportion of their total book value on the Lifo basis
than do nonferrous metal producing companies.
Petroleum and coal products
The highest 1951 Lifo ratio for a single industry is found
in the petroleum and coal products group. This industry
accounts for nearly one-fifth of the total book value of Lifo
inventories. Several years before Lifo was approved for tax
purposes, the Board of Directors of the American Petroleum
Institute recommended to the membership the application of
Lifo in the valuation of raw material inventories.
A number of the petroleum firms covered in the present
survey reported adoption of Lifo before 1939, and another
substantial segment of the industry switched to the Lifo
method in 1941. There were sporadic new entrants during
the war and early postwar years, but only a few relatively
small firms have initiated Lifo accounting since 1947. There
are still several very large petroleum refining companies
which make no use of the Lifo method, but, on the other hand,
Lifo seems to be more widely employed by smaller companies
in this industry than in any other.
Nonelectrical machinery
The growth of Lifo accounting in the nonelectrical machinery group is particularly interesting because the method
was used only to a very limited extent before 1950. Amendment of the tax regulations concerning Lifo to permit use of the
"dollar value" method previously referred to greatly simplified the application of Lifo accounting to the numerous and
varied items that make up the inventories of a machinery
firm. It is probable that this change of the tax regulations
and further increases in material and labor costs were the
major reasons for the adoption of Lifo by numerous machinery manufacturers in 1950 and 1951.
There is considerable variation among the machinery subgroups as to the relative importance of Lifo inventories.
Over one-half of the estimated total book value of Lifo inventories in machinery are held by manufacturers of agricultural machinery. Lifo has also become an important
factor in the office and store machinery and construction
machinery industries. On the other hand, there has been
only scattered use of Lifo in the metalworking machinery,
special industry machinery, and household machinery
subgroups.
The Lifo method has been adopted by relatively few firms
in the nonelectrical machinery industry in comparison to its
broad acceptance in the primary metals, petroleum, and
textile industries. But many of the largest companies use
the method and apply it to the major part of their total
inventories. The latter feature reflects the broader applicability of Lifo permitted by the recent amendment of the
Treasury regulations.
May 1953
Foods textiles, and other products
In the food industry, nearly 40 percent of the total Lifo
book value is found in meatpacking and 30 percent in the
canning and preserving industry, with the remainder
scattered through the grain, dairy products and other foods
subgroups. For the most part, the meatpacking firms on a
Lifo basis adopted the method in 1941. In the other subgroups the dates of Lifo adoption are clustered in two periods,
1941-42 and 1950-51.
The growth of Lifo in the textile industry has been very
gradual, with new firms adopting the method in nearly every
year since 1939. Lifo has gained wide acceptance even
among medium-sized corporations. Almost one-half of the
sample firms covered in the survey report some use of Lifo,
but the proportion of inventories held on Lifo is often quite
small.
The specific industries discussed above are the chief Lifo
industries from the point of view of aggregate book value of
Lifo stocks. There are other industries, however, such as
beverages, paper and products, leather, and fabricated metal
products, which value a relatively high proportion of their
stocks on Lifo. The most notable growth of Lifo since 1947
is found in the machinery, rubber products, and stone, clay
and glass industries. In comparing Lifo ratios for 1947 and
1951, it should be noted again that the ratios relate only to
book value data. Just as the book value ratios given generally understate the proportion of Lifo stocks to total
physical stocks, increases in the book value ratios between
1947 and 1951 understate the relative growth of Lifo inventories in real terms.
Nature and Effects of the Lifo Method
The nature of the Lifo method may be best explained by
contrasting it with the traditional first-in first-out (Fifo)
method which is by far the most widely used inventory
accounting procedure. Under both Lifo and Fifo, inventories are valued at original costs, but becasue the two
methods embody opposing assumptions as to the flow of
inventory goods their application yields divergent results in
periods of price change.
Flow of inventory goods
Despite the implication of the terms "first-in first-out"
and "last-in first-out," neither of these methods necessarily
accords with the actual physical flow of goods out of inventory. They represent, rather, alternative assumptions, for
cost purposes, as to the order in which inventory goods are
used up or sold. The Fifo method assumes that the earliest
goods acquired are the first to be used up or sold. The
Lifo method employs the reverse assumption as to the flow
of goods through the inventory. The goods most recently
acquired are assumed to be the first used up or sold.
Thus, under Fifo current sales are matched to some extent
with prior period costs. Lifo, on the other hand, applies
the most recent costs incurred against current sales, thereby
matching current costs against current revenue. Past
period costs are charged against current revenue only if
stocks used up or sold exceed current purchases, in other
words, to the extent that there is a decline in physical
stocks.
Valuation of inventory holdings
The valuation placed on the inventory remaining on hand
under the two methods is implicit in the treatment of costs
incurred. Since the Fifo method assumes that goods are
SURVEY OF CURRENT BUSINESS
Jay 1953
19
Effect of Inventory Valuation Adjustment on Book
Value Inventory Change and Business Profits
On the product side of the production account, the inventory valuation
adjustment converts the book value inventory change to show
physical change at current prices
BILLIONS OF DOLLARS
NET CHANGE IN NONFARM BUSINESS INVENTORIES
CHANGE AFTER INVENTORY
VALUATION ADJUSTMENT
20
CHANGE IN
BOOK VALUE
0
INVENTORY VALUATION ADJUSTMENT
-20
On the cost side of the production account, the inventory valuation
adjustment places cost of sales on a current cost basis, and
thus shows profits accruing from current production
CORPORATE AND UNINCORPORATED NONFARM BUSINESS PROFITS BEFORE TAXES
80
PROFITS AFTER INVENTORY
VALUATION ADJUSTMENT
PROFITS BEFORE INVENTORY
VALUATION ADJUSTMENT
60
40
20
INVENTORY VALUATION ADJUSTMENT
-20
1946
U. S. DEPARTMENT
1947
1948
OF COMMERCE. OFFICE OF BUSINESS
1949
used up in the order in which acquired, it follows that the
ending inventory of each period is made up of the goods most
recently acquired and is valued at the cost of these goods.
If the common practice of valuing inventories at the lower
of cost or market is followed, ending inventories will be
valued at current market prices when these are lower than
cost. Fifo thus provides a balance sheet inventory figure
closely reflecting current cost.
Under Lifo, on the other hand, the ending inventory is
assumed to be made up of the earliest goods acquired and
is valued at the original cost of such goods. Only the
physical increment in any year is valued at current cost.
The balance sheet value of Lifo inventories, therefore, may
be more or less remote from a current valuation, depending
largely on the degree of price change taking place between
the original year of adoption of Lifo and the current period.
(Users of the Lifo method for tax purposes are not permitted
to write down the value of their inventories below the original
Lifo cost, even though current cost or market price should
fall below that level.)
If, for example, a firm maintains a constant physical stock
of inventories through an extended period of price increases,
application of the Fifo method will place a higher value on
this constant stock at the end of successive accounting
periods, thus reflecting the increased cost of inventory goods.
Under Lifo accounting, however, assuming the method
to be adopted in the first year of the period, the inventory
1950
1951
1952
ECONOMICS
will be carried at a constant dollar value reflecting costs of
the original year of adoption.
Determination of profits
Perhaps the most significant difference between the Lifo
and Fifo methods relates to their effects on the determination of business income. The cost of goods sold and, therefore, the net income are calculated with reference to the
change in the value of inventories during the year. The
standard formula is: cost of goods sold equals beginning
inventory plus purchases less ending inventory.
As pointed out above, the Fifo method, during periods of
rising prices, places a higher value at each year-end on a
constant physical volume of inventories, while the Lifo
method carries these constant stocks at constant prices.
It is apparent that, given these conditions, application of
the Fifo method will result in a lower cost of goods sold and
a higher reported profit than the Lifo method.
The same point can be demonstrated directly in terms of
the flow of costs. In a period of stable prices, the cost of
goods sold calculated by the Fifo method, with the earliest
costs charged to sales, will be roughly equivalent to the cost
of goods sold computed by the Lifo method, with the latest
costs charged to sales. With prices rising, however, costs
are lower and profits higher under Fifo than under Lifo,
since costs charged to sales are the earliest (lowest) costs
SURVEY OF CURRENT BUSINESS
20
under Fifo, but the most recent (highest) costs under Lifo.
In a period of declining prices, costs will be lower and profits
higher under Lifo than under Fifo.
The following concise characterization of Lifo has been
given by the Committee on Accounting Procedures of the
American Institute of Accountants: "The Lifo method of
accounting for inventory costs, as now applied, is an accounting device for applying incurred costs in a manner, the purpose of which is to relate costs to revenue more nearly7 on the
same price level base than
would the Fifo method/
The following example l illustrates the principal differences
between Lifo and Fifo in determining income:
Item
Sales
Less: Cost of goods sold
Beginning inventory
Plus: Purchases
Less: Ending inventory
Fifo
T .,
1,110
Fifo
480 units at $7
100 units at $4
500 units at $5
120 units at $5
/100 units at $4
\20units at $5
Equals: Gross profit
Lifo
3,360 3,360
2,300 2,400
400
400
2,500 2,500
600
400
100
1,060
960
Less: Administrative, selling and other expenses
300
300
Equals: Profit
760
660
The difference between Lifo and Fifo as to the order in
which the cost of goods is charged against sales is reflected
in the cost of goods sold. The Lifo method value inventories used up at the latest costs incurred, represented by
current period purchases. Lender this method the total cost
of goods sold is $2,400, all 480 units sold being valued in terms
of their current cost of $5 per unit.
Under Fifo the earliest costs incurred, represented by
beginning inventory of 100 units at $4 each, are first charged
to costs of goods sold. Only the additional 380 units sold
are valued at the current cost of $5 per unit, so that the total
cost of goods sold is $2,300. In other words, cost of goods sold
under Fifo falls short of current replacement cost by the
excess of the current replacement cost over the original cost
of the inventories used up in production.
Since, in the example, beginning inventory and purchases
are identical under both Lifo and Fifo, the difference between
the two methods in the calculation of cost of goods sold is
reflected in the entry for ending inventory. Under Lifo,
ending stocks, up to the quantity on hand at the beginning,
are valued at beginning cost of $4 per unit, and only the
physical increment is valued at current cost of $5 per unit.
Thus, the increase in the book value of Lifo inventories is
equivalent to the physical change at current prices.
Under Fifo the ending inventory comprises the most recent
purchases and is valued at current cost of $5 per unit. The
book value increase in inventories of $200 shown under Fifo
is accordingly in excess of the physical increment of 20 units
at current prices shown by Lifo, because it reflects in addition
the increase from $400 to $500 in the value placed on equivalent inventories of 100 units at the beginning and end of the
period, It may be noted that this element of inventory
appreciation is equivalent to the excess of the current replacement cost over the original cost of inventories used up in
production which, as has been shown, is an element of the
Fifo cost of goods sold.
The foregoing example illustrates how, in periods of changing cost prices, the different assumptions relating to the flow
of inventory goods made under Lifo and Fifo result in different measures of inventory change, cost of goods sold, and
profits. As will be shown later, the method of inventory
valuation adopted in national income accounting resembles
;
For purposes of exposition it has been assumed, in the example and in the text, that
prices change between accounting periods but are constant within periods. This assumption
greatly simplifies the discussion and does not affect the substance of the comparison of the
Lifo and Fifo methods.
May 1953
closely the Lifo method. The inventory valuation adjust
ment by which the change in the book value of inventories
and the corresponding profit data are adjusted for inclusion
in the national income and product accounts is closely similar
to the difference between the Fifo and Lifo measures of profit
and inventory change.
The principal reasons for the adoption of Lifo are suggested
by the foregoing comparison with the Fifo method.
Cost of replacing inventories
Under Fifo, if prices increase, the full cost of replacing
physical inventories is not reflected in cost of goods sold.
Part of the reported profit thus represents only the increased
cost of carrying inventories and cannot be realized if physical
stocks are to be maintained without liquidating other assets
or increasing the indebtedness of the business. Employees
and stockholders, however, may assume that repoited profits
are available for distribution as increased wages and dividends
or for use in capital investment.
The Lifo method, by pricing inventory goods used up or
sold at current replacement cost, provides a measure of income after provision has been made for the increased cost of
carrying inventories. Proponents of Lifo accounting contend
that Lifo profits are therefore more meaningful and realistic.
The desire for a profit figure more in line with disposable cash
has been an important motive in the shift from Fifo to Lifo.
Another reason for the spread of Lifo is the greater stability
of Lifo profits relative to Fifo profits over an extended period
Lifo profits are lower in times of rising prices when profits are
typically high. Conversely, reported profits are greater (or
losses smaller) under Lifo than under Fifo in times of falling
prices when profits are typically low. To many businessmen
the smoother, more stable picture of earnings provided by
Lifo is one of the more attractive features of the method.
Tax considerations
The rapid growth of the Lifo method since 1939 would
certainly not have occurred in the absence of a steadily rising
price level and relatively high rates of corporate income taxation. Since the Lifo method yields lower profits figures in
times of rising prices than the Fifo method, there has been a
significant tax advantage in its adoption in the inflationary
conditions of recent years. This advantage has been accentuated by the high wartime and postwar tax rates.
An offsetting tax disadvantage arises in years of falling
prices when the Lifo method yields higher profits, or smaller
losses, than the Fifo method. Over a complete price cycle
total profits before taxes will tend to be similar, for any
one firm, under either inventory method. If one assumes
that tax rates are likely to be higher on the price upswing
(when profits under Lifo are lower) than on the downswing
(when profits under Lifo are greater), a net tax advantage
would probably accrue to the users of Lifo.
Factors limiting use of Lifo
One of the most common objections to Lifo relates to the
carrying of inventories in the balance sheet at original Lifo
costs rather than at current price levels. This feature of
Lifo tends to give a distorted impression of the current asset
position, and it has been widely suggested that firms using
Lifo provide an additional entry for the approximate value of
inventories at current prices.
It may also be noted that the application of the Lifo
method raises new problems of accounting that do not arise
in connection with Fifo. For instance, in the preparation of
interim quarterly financial statements, purchases charged to
SUEVEY OF CURKENT BUSINESS
May 1953
21
Table 2.—National Income and Product Account, 1951
[Billions of dollars]
Costs of production
Output of goods and services
Compensation of employees
178. 9
Income of unincorporated enterprises and inventory valuation adjustment _ _
_
41. 8
Farm
15. 6
Business and professional (including inventory valuation adjustment) . _ _ 26. 2
Before inventory valuation adjustmentInventory valuation adjustment- __ _ _
Rental income o f persons
__
_ __ _
26. 6
—.4
__
_ _ _ _ _ _ _ ___
_
Corporate profits and inventory valuation adjustment
Gross private domestic investment
New construction and producers durable equipment
Change in business inventories
48.2
._ 10.3
Farm
Nonfarrn
__
58.5
0.9
9.4
41. 6
Corporate profits before tax
Change in book value
_
Inventory valuation adjustment
42. 9
Inventory valuation adjustment
_ . _ . 11.1
—1.7
._ —1.3
Net interest
6. 4
National income
Net foreign investment
_
0.2
277. 6
Other charges against gross national product
Charges against gross national product
8.9
208.0
Personal consumption expenditures
51. 6
_ _
_
_._
...
329.2
Government purchases of goods and services
Gross national product
62.6
_ _ 329.2
Source; Office of Business Economics, U. S. Department of Commerce.
cost of goods sold may differ from those charged on an annual
basis. Special adjustments or estimates may be required in
preparing the quarterly statements in order to keep them on
a basis consistent with that used in annual reports. The use
of the "dollar value" method, which in many cases is necessary for securing the full advantages of the Lifo method, also
raises new problems for business accounting. Moreover,
in many instances, price fluctuations of inventory goods do
not have sufficient effect on the income statement to warrant
the substitution of Lifo for the more conventional methods of
inventory accounting.
Many firms have hesitated to adopt Lifo at the price
levels of the postwar years on the ground that prices might
soon turn downward, resulting in a higher tax liability under
Lifo than under Fifo.
Relation to National Income Accounting
Gross national product and charges against gross national
product are alternative measures of the output of final
)ods and services produced by the Nation's economy,
ross national product comprises the purchases of goods and
services by consumers and government, gross private domestic investment and net foreign investment. Charges
against gross national product are the sum of all costs
incurred in the production of national output. Included
are the factor costs of labor and property, which comprise
the national income, as well as other costs—mainly capital
consumption allowances and indirect business taxes. These
two measures of national output are exhibited in the national
income and product account.
S
Inventories in national accounts
In the determination of gross national product, changes in
the physical volume of inventories held by business must be
included as a component of private investment. An increase
in inventories constitutes a part of current year's production.
A decline in inventories represents a drawing upon the
production of earlier years. Increases in inventories must
therefore be added to, and decreases deducted from aggregate
sales to consumers, government, and for fixed investment
purposes to arrive at a measure of output.
Since the aim is to derive a measure of the market value of
current production, it is essential that the inventory change
included in gross national product should represent physical
quantities valued at current prices. Insofar as the book
value change reported by business for a given period in
cludes, in addition, the appreciation or depreciation in the
value of inventories that is due to changes in the prices of
inventory goods, an inventory valuation adjustment is
required to exclude this element.2
For example, if prices are rising, the change in the book
value of inventories exceeds the value of physical change at
current prices, and a negative adjustment must be made to
book value change. Conversely, when prices are falling, a
positive adjustment to book value change is needed.
To the extent that the change in the book value of inventories is adjusted in order to determine the inventory change
component of gross national product, an identical inventory
valuation adjustment to reported business profits is required
on the cost or income side of the account. This is so because,
as has been shown, the book value change in inventories
enters as an element in the calculation of profits. The
adjusted measure of business profits represents income
arising from current production. The cost of goods sold is
stated in terms of current replacement cost, and, consequently, profits exclude elements that stem from the price
appreciation or depreciation of stocks.
The application of the inventory valuation adjustment to
book value change and reported profits is illustrated above
in the national income and product account for 1951. The
account has been abridged and somewhat recast in order to
show more clearly the effects of this adjustment.
As can be seen, an inventory valuation adjustment of
minus $1.7 billion is applied on the right side of the account
to the change in the book value of total nonfarm inventories
(corporate and noncorporate) to convert it into a measure of
the physical change in current prices. ^ This adjustment is
matched by corresponding entries of minus $0.4 billion and
minus $1.3 billion applied, respectively, to unincorporated
and incorporated business income on the left side of the
account.
Lifo and national income accounting
The basic principle of the Lifo method, the charging of
current costs to current revenues, is essentially the same
as that embodied in the national income concepts. So long
as physical stocks of Lifo inventories are stable or increasing,
figures for inventory change and business income reported
on a Lifo basis require no inventory valuation adjustment
for national income and product purposes, since any physical
2 This adjustment for price change concerns only the nonfarm business sector, since the
basic data on farm inventory change are already expressed in terms of physical quantity
change at current prices.
22
SURVEY OF CUKKENT BUSINESS
increment in Lifo stocks is valued at current prices, and
inventories used up in production are valued at current
replacement cost.
If physical stocks decline, however, some adjustment of
Lifo inventories is necessary for consistency with national
income concepts since these liquidations, under Lifo, will
be valued at cost prices of an earlier period, not at current
prices. On the product or output side an inventory valuation
adjustment is needed to convert the reported change in
book value to a current price basis. On the income side an
equivalent adjustment must be applied to reported income
in order to place the cost of inventories used up on a current
cost basis. Adjustments required by declines in Lifo stocks
have been negligible in the years since Lifo was introduced,
but could become quite large in the event of heavy inventory
liquidations.
Fifo and national income accounting
The use of data based on Fifo accounting raises greater
difficulties for national income estimating. If prices are
changing rapidly, the difference between current costs and
the historical costs charged under Fifo may be quite large.
This is reflected in substantial departures of the book value
change in inventories and of book profits from the measures
required for national income purposes. The estimation of
the inventory valuation adjustment by means of which conversion of reported data into national income concepts is
accomplished constitutes one of the most difficult steps in
national income estimation.3
The sharp contrast between the Lifo and Fifo methods as
to the degree of adjustment required to bring their results
into line with national income concepts serves to emphasize
the need for information on business accounting. The data
on the book value of inventories and business income used
in national income and product estimates are taken from the
compilations of income tax returns provided by the Bureau
of Internal Eevenue in "Statistics of Income." No indication is given of the extent to which various inventory methods
are used in the returns underlying these compilations. The
3
A detailed description of the procedure used to adjust the book value of inventories for
use in the national income and product account is provided in the 1951 National Income
supplement to the SURVEY OF CURRENT BUSINESS.
May 1953
present survey and earlier studies of the extent of Lifo
inventory accounting are attempts to fill this gap in the basic
data and thereby achieve greater accuracy in the treatment
of inventories in the national accounts.
Magnitude of inventory valuation adjustment
The size of the inventory valuation adjustment depends on
the amount of non-Lifo inventories and the rate at which
prices are changing. Whether the adjustment to book value
change and reported income is positive or negative depends
on the direction of the price change taking place. In years
of rising prices, the Fifo method yields a measure of book
value change which overstates the value of physical change at
current prices and a measure of book profits which is correspondingly overstated. Consequently, a negative adjustment is required. During periods of price decline, the
inventory valuation adjustment is positive.
Except for the years 1949 and 1952, when moderate price
declines occurred, the inventory valuation adjustment has
been consistently negative from 1939 through 1952. The
adjustment was largest in the years of greatest price increases,
1946, 1947, and 1950. The chart on page 19 illustrates
the magnitude of the inventory valuation adjustment in
recent years and its impact on book value inventory change
and business profits.
Inventory growth has characterized the postwar period,
but in most years it has been overstated by the reported
change in book value. In 1947, for example, only $1.4
billion of the book value change of $8.7 billion represented
physical change at current prices. The additional $7.3
billion increase in book value represented the eftect of rising
prices on inventory valuation.
The inventory valuation adjustment, in recent years, has
correspondingly reduced the series on nonfarm business
profits included in the national income accounts below the
unadjusted figures based on business accounting practices.
For instance, in 1946 and 1947 the inventory valuation adjustment accounted for about 15 percent of estimated book
profits before tax. The required adjustment was smaller
in other years, reaching its lowest level in 1952 when prices
were relatively stable.
Trends in Industrial Output
(Continued from page 8)
slower pace. Output in the first quarter, according to the
Federal Keserve seasonally adjusted production index of
major consumer durable goods, was up more than twofifths from the relatively low year ago volume and more than
10 percent from the fourth quarter of 1952.
The improvement in production was general with output
of furniture and of radios and television sets virtually matching their earlier highs. Other lines—household appliances
and rugs—remained well below former peaks.
Passenger car output
The production of passenger cars, by far the most important of the consumer hard goods lines in terms of value,
accounted for the largest relative gain in the total index. Out
put of passenger cars was stepped up rapidly following settlement of the work stoppage in the steel mills last summer. In
the fourth quarter of 1952, the industry rolled out 1.3 million
units, a weekly average of 100,000. In January and February, completions averaged nearly 115,000 per week and this
was increased to 130,000 in March. The total for the quarter
was 1.5 million units. With steel continuing to flow in
enlarged quantities and two shift operations in a number of
assembly plants, completions in April averaged more than
135,000 cars per week, indicating a total run of 600,000 cars
for the month, the first time the industry hit this high mark
since March, 1951, when 617,000 cars were produced.
The increasing rate of passenger car production has been
(Continued on page 24)
STATISTICAL S E R I E S
Manufacturers' Inventories by Stage of Fabrication, 1939-1947
l
[Millions of dollars; not adjusted for seasonal variation]
All manufacturing
Total
inventory
Finished
goods
Durable goods industries
Purchased i Goods in
materials
process
Tola!
inventory
Finished
goods
Purchased
materials
Nondurable goods industries
Goods in
process
Total
inventory
Finished
goods
Purchased
materials
Goods in
process
1938: December
10, 803
4,989
3,791
2, 023
5,017
2,128
1,613
1,276
5, 786
2, 861
2,178
747
1939: January
February
March
April
May
June
.
July
..
August
September
October
November
December
10, 888
10, 865
10, 783
10, 631
10, 556
10, 448
10, 562
10, 632
10, 665
10, 896
11,258
11, 516
5,065
5,074
5, 017
4,957
4,990
5,004
4,998
5,112
4,873
4,787
4, 865
4,926
3, 775
3,725
3,626
3,587
3,549
3,533
3,562
3,542
3,707
3,963
4,191
4,322
2 048
2 066
2 141
2 087
2 017
1 951
2 002
1 978
2 085
2 147
2 202
2 268
5, 028
5,050
5, 007
4, 926
4, 852
4,778
4,781
4,839
4,894
5. 022
5,197
5,332
2, 155
2, 176
2, 171
2, 159
2, 165
2,130
2,107
2, 094
2,024
1, 988
2,032
2,048
1,581
1, 553
1, 529
1,474
1,442
1,422
1,442
1,461
1,516
1, 643
1,736
1,802
1,292
1,321
1,307
1,293
1,245
1, 226
1,232
1,284
1,354
1,391
1,430
1,482
5, 860
5, 815
5, 776
5,705
5,704
5,710
5,781
5,793
5,771
5,874
6,061
6,184
2, 910
2,898
2,846
2,798
2,826
2,874
2,891
3,018
2,849
2,799
2,833
2,878
2,194
2,172
2,097
2, 113
2,107
2,111
2, 120
2,081
2,191
2, 320
2,455
2,520
756
746
833
794
772
724
770
694
731
753
776
786
11, 750
11,852
11,804
11,747
11, 784
11, 823
5, 084
5, 226
5, 226
5, 258
5, 281
5,318
4,345
4,286
4,238
4. 143
4,112
4,151
2, 321
2, 340
2, 340
2, 346
2. 391
2. 353
5, 448
5,516
5, 500
5. 460
5, 487
5, 488
2,128
2, 218
2,239
2,252
2, 268
2,224
1,797
1,761
1,727
I, 659
1,667
1. 739
1, 523
1,537
1, 534
1, 549
1, 552
1, 525
6, 302
6, 336
6, 304
6,287
6, 297
6,335
2, 956
3,008
2,986
3, 006
3,012
3,095
2,548
2, 525
2, 511
2,484
2, 446
2,412
798
804
807
797
839
828
12,031
12, 220
12, 275
12, 436
12, 644
12 873
5, 310
5, 430
5,283
5,213
5,171
5,197
4,272
4, 308
4, 372
4, 545
4,710
4, 841
2, 450
2, 482
2, 620
2. 678
2, 763
2, 835
5, 559
5,739
5, 849
5, 970
6,119
6, 303
2,162
2, 174
2, 115
2, 136
2, 161
2, 214
1,805
1, 858
1,891
1, 938
2,010
2, 106
1,592
1,708
1,842
1, 895
1,948
1,983
6,472
6,481
6,426
6, 466
6, 525
6,570
3,148
3, 257
3, 168
3, 076
3, 010
2, 983
2,466
2, 450
2, 481
2, 607
2, 700
2, 735
858
774
777
783
815
852
13, 141
13, 253
13. 408
13, 657
13, 940
14, 344
5,295
5,258
5,148
5,147
5, 101
5, 157
4,846
4,870
5, 042
5, 166
5, 365
5,573
3,001
3, 124
3, 219
3, 344
3, 474
3,614
6, 471
6, 593
6. 734
6, 893
7, 075
7, 236
2,254
2,248
2,234
2,242
2, 240
2,201
2,119
2, 145
2,223
2,276
2. 386
2,480
2,098
2,201
2,277
2,375
2,449
2, 555
6,670
6, 660
6,674
6, 764
6, 865
7,108
3,040
3, 010
2,914
2, 905
2,861
2,956
2,727
2,726
2,819
2, 890
2, 980
3,093
903
924
942
969
1 , 025
1,059
14, 857
15, 285
15, 535
15, 970
16, 374
17, 024
5,243
5, 264
5., 086
5, 206
5,256
5,488
5,913
6, 092
6, 365
6, 621
6, 863
7.270
3, 701
3. 929
4, 083
4, 143
4, 254
4, 266
7,389
7, 668
7, 861
8. 097
8, 257
8, 598
2, 156
2,115
2, 052
2,123
2, 174
2,286
2,619
2,727
2,833
2, 905
2, 985
3,160
2,614
2,826
2, 976
3,070
3,098
3,152
7,468
7, 617
7, 674
7,873
8,117
8,426
3,087
3, 150
3,034
3,083
3, 082
3,202
3,294
3, 365
3,532
3, 716
3,879
4, 110
1,087
1,103
1,108
1, 074
1, 156
1,114
17, 483
17, 670
17, 948
18, 145
18,405
18, 715
5, 773
5, 656
5,642
5, 667
5,757
5,825
7,342
7,476
7, 502
7,636
7, 749
7,888
4, 368
4, 539
4, 804
4. 842
4, 959
5,002
8.784
8, 915
9,130
9, 330
9, 512
9, 653
2,434
2, 404
2, 422
2, 464
2,478
2,439
3,150
3,220
3,227
3, 366
3, 457
3, 553
3,200
3,291
3,481
3,500
3,577
3,661
8,699
8, 755
8, 818
8,815
8, 953
9,062
3,339
3, 252
3,220
3, 203
3,279
3,386
4,192
4, 255
4,275
4, 269
4,292
4,336
1, 168
1, 24S
1, 324
1, 343
1, 382
1, 340
. _.
18, 904
18, 982
18, 873
18, 886
19, 141
19, 348
5,804
5,876
5,707
5,526
5,485
5,410
7,934
7,942
7,914
8,018
8, 068
8,153
5, 166
5, 165
5, 252
5, 343
5, 588
5,785
9, 771
9,824
9, 871
10. 014
10, 221
10, 437
2,389
2, 365
2,290
2,219
2,180
2,142
3,562
3,579
3,584
3,669
3,705
3,733
3,821
3,880
3,998
4,126
4, 336
4,561
9,133
9,158
9,002
8,872
8,920
8,911
3,416
3, 510
3,417
3,307
3, 306
3,267
4,372
4, 363
4. 331
4,348
4, 363
4, 420
1,345
1, 285
1, 254
1,217
1,252
1, 224
-
19, 253
19, 109
19, 123
19, 174
19. 240
19, 309
5,468
5,289
5,191
5,029
5,056
5, 046
8,170
8, 047
8,003
7. 943
8,020
8, 003
5. 615
5, 772
5, 929
6. 202
6, 163
6. 260
10, 349
10, 367
10. 511
10, 650
10, 647
10, 797
2,178
2, 172
2,169
2, 115
2,107
2. 103
3,772
3, 703
3, 700
3, 672
3, 709
3,736
4, 399
4,492
4,642
4, 862
4,831
4,958
8,904
8,742
8. 612
8, 524
8,593
8,512
3,290
3,117
3,022
2, 914
2,949
2,943
4, 398
4,344
4,304
4,270
4, 312
4,267
1. 216
1. 280
1, 286
1, 340
1, 332
1, 302
19, 391
19, 365
19, 450
19, 667
19, 870
20, 171
5,080
5,155
5, 144
5,127
5,226
5, 099
8,160
8,178
8,117
8, 392
8,471
8,573
6. 151
6, 032
6, 189
6, 148
6. 173
6, 500
10, 727
10, 677
10, 842
10. 901
10, 879
11,171
2, 025
2,064
2,092
2,048
2, 059
2,042
3,788
3,788
3,768
3,882
3, 850
3,919
4,914
4, 824
4,982
4,971
4,970
5,210
8, 664
8,688
8,608
8,766
8, 991
9,000
3, 055
3, 090
3,052
3,080
3, 167
3, 057
4, 372
4, 389
4.349
4, 510
4,620
4, 654
1, 2:? 7
1,208
1,207
1. 177
1 , 203
1.289
20 274
20, 294
20, 151
20. 141
20, 001
19, 935
5,300
5,337
5,336
5,315
5,270
5,256
8,657
8,553
8,477
8,424
8, 281
8,278
6, 317
6, 403
0, 338
6, 402
6, 450
6,400
11, 127
11,087
10, 937
10, 963
10, 901
10. 864
2,127
2, 115
2,125
2, 123
2, 108
2,116
3, 949
3,871
3,795
3,816
3,743
3,686
5,051
5,101
5,017
5,024
5,050
5,062
9, 147
9,207
9,214
9, 178
9,100
9, 071
3, 173
3, 222
3,211
3, 192
3,162
3,140
4,709
4,682
4,682
4,608
4,538
4,592
1,266
1. 302
1,321
1, 378
1,401
1,338
20,008
19, 967
19, 758
19, 878
19, 628
19, 578
5, 237
5, 398
5,388
5,332
5,231
5, 078
8,426
8,288
8, 142
8,157
8,083
8, 153
6, 344
6, 281
6, 228
6, 388
6, 314
6,348
10, 776
10, 748
10, 687
10, 726
10, 488
10, 430
2,106
2,099
2,135
2,104
2,110
2,024
3,683
3,632
3,568
3,478
3,396
3,393
4,986
5,017
4,984
5,144
4,982
5,014
9,232
9,219
9,071
9,152
9, 140
9,148
3,131
3,299
3,253
3,228
3,121
3,054
4,743
4, 656
4,574
4,679
4,687
4,760
1, 358
1, 264
1, 244
1, 245
1, 332
1, 334
19. 554
19, 383
19. 349
19, 373
19, 195
19, 051
5,133
5, 015
4,934
4,929
4,901
4,854
8,092
8,019
8,019
8,027
7,920
7,920
6. 329
6, 348
6,396
6, 417
6, 375
6, 276
10, 346
10, 251
10, 297
10,344
10, 307
10, 196
2,128
2,130
2, 134
2, 187
2, 166
2,093
3,298
3,192
3,198
3,268
3,270
3,307
4,919
4,929
4,966
4,889
4,871
4,796
9,208
9,132
9,052
9,029
8,888
8,855
3, 005
2,885
2,801
2, 742
2, 735
2,762
4,794
4,827
4,822
4,760
4,649
4, 613
1,410
1,420
1,430
1. 528
1, 504
1,480
19, 177
18. 745
18, 613
18, 728
18,763
18, 457
4,964
5,047
5,042
5,100
5,294
5, 272
8,060
8,057
8,102
8,098 1
8,151 !
8,247 i
6. 153
5, 641
5, 469
5, 530
5,319
4,938
10, 073
9,620
9,421
9,312
9, 063
8,764
2,086
2,054
2,061
2,034
2,062
2,059 1
3,318
3,331
3,330
3, 234
3.182
3,208
4, 669
4,234
4,029
4,044
3,819
3,497
9,104
9,125
9,192
9,416
9,700
9,693
2,878
2,993
2,981
3,066
3,231
3,213
4,742
4,726
4,772
4,864
4,969
5,040
1,484
1,407
1,439
1, 486
1,500
1,440
„_ _
-
~
1940: January
February
March
. _ _ - „„ _ _
April
May
J une
..
July
August
- - _ .September
October
November
December
- ... . . .
1941; January - _ _ _ .
February
March
_
A pril
. .__ .
May
June
July
August
September
October
._„
_ ._
No vem ber
December _ _ _
_ _ _ _ _
1942: January
February
Macrh
April
-. .
May
J une
-_
July
August
September
October
November
December
1943: January
February March
April
May
June
.
Julv
August
September
October November
December
_. _
._
- .
_ _ _
1944; January
February
March
April
May
June
._
_
_
July
August
. - _ - - _ _ _ . September
October
November
December
1945: January
February
March.
April
Mav
J une
July
August
September.
October..
November
December
-
-. . -
_
_ _
- _ _.
.
. . _ __
See footnote at end of table.
23
SURVEY OF CURRENT BUSINESS
24
Manufacturers'
Inventories by Stage of Fabrication, 1939-1917—Continued
[Millions of dollars; not adjusted for seasonal variation]
All manufacturing
Total
inventory
1946; January _ .
February
March
April...
May
June
_ _ __
_.
_ _ _ _ _
_ _ _ _ _
July
August
_
_ _ _ _ _ _
September
October
November _ _ __
_
December
1947; January
February
March
April
__
May
June
July
August
September
October
November
December
1
_ _ _ _ _ _ _
_ _
_ _
Finished
goods
Purchased
materials
Durable goods industries
Goods in
process
Total
inventory
Finished
goods
Nondurable goods industries
Purchased
materials
Goods in
process
Total
inventory
Finished
goods
Purchased
materials
Goods in
process
191
226
315
395
723
858
8, 853
8,989
9. 335
9, 560
9, 786
10. 074
2, 108
2, 182
2, 257
2. 303
2, 312
2.342
3,234
3,228
3, 402
3, 537
3, 548
3, 646
3,511
3, 578
3 676
3,720
3, 925
4, 085
9,852
10, 043
10, 060
10, 050
10, 157
10, 173
3,217
3,348
3, 263
3, 163
3, 166
3, 123
4, 955
5, 048
5. 158
5.212
5. 192
5, 277
1,6$
1,64
1,63
1,67
1,79
1,77
9, 469
9. 816
9, 936
10, 436
10, 776
11, 258
6, 004
5,998
6, 162
6. 255
6, 2(50
6. 298
10, 431
10, 742
11,096
11,430
11,691
11, 950
2.392
2, 468
2, 549
2. 631
2, 700
2,791
3, 849
3,991
4, 168
4,328
4,442
4, 601
4,190
4,283
4,380
4, 472
4, 548
4,558
10, 854
11, 268
11, 455
12, 204
12. 500
12, 670
3.420
3,727
3, 904
4.313
4,453
4,274
5,620
5, 826
5, 768
6, 108
6,334
6, 657
1,81
1,71
1,78
1,78
1,71
1,73
7,537
7,709
7,830
8, 065
8,341
8,533
11, 384
11,487
11.676
11, 756
11,812
11, 869
6. 603
6. 780
6, 984
7. 086
7. 165
7, 092
12, 460
12. 776
13, 142
13, 388
13, 714
13.880
3, 041
3,110
3, 256
3,423
3, 541
3, 661
4, 638
4, 748
4,844
4,881
5, 023
5, 133
4, 782
4,917
5,041
5,084
5, 150
5,086
13. 063
13. 200
13, 348
13, 519
13, 604
13, 614
4,496
4, 598
4, 574
4,642
4. 800
4, 872
6,746
6, 739
6, 831
6, 875
6, 789
6, 736
1,82
1,86
1,94
2,00
2,01
2,00
8, 760
8, 866
8,846
8,995
9,109
9,183
11, 852
11, 897
11,816
11,923
12, 230
12, 607
7, 152
7, 296
7, 305
7. 304
7,337
7.242
14, 023
14, 127
14. 116
14, 243
14, 252
14, 267
3, 680
3, 652
3,709
3. 822
3, 902
3, 893
5,244
5,270
5, 190
5, 176
5,116
5, 254
5,100
5, 205
5,217
5, 246
5,235
5,120
13, 741
13, 932
13,852
13, 979
14, 424
14, 765 i
5,080
5,214
5,138
5, 173
5, 207
5, 290
6,608
6, 627
6, 626 1
6. 747 \1
7, 115
7, 353
2, 05:
2,09
2, 08!
2, 05:
2, 10:
2, 12:
18, 705
19, 032
19, 395
19, 610
19, 942
20, 247
5. 325
5, 530
5,520
5, 466
5,478
5, 466
8, 189
8.276
8, 559
8, 749
8,741
8, 923
21, 285
22, 010
22 551
23, 635
24, 190
24, 620
5,812
6, 195
6,452
6,943
7, 154
7,065
25, 524
25, 976
26, 490
26, 907
27 318
27, 494
27. 764
28, 059
27, 967
28, 222
28, 676
29, 032
5,
5,
5,
5.
5.
5,
Book value as of end of period; figures do not necessarily add to totals because of rounding.
Source: U. S. Department of Commmerce, Office of Business Economics.
Trends in Industrial Output
(Continued jrom page 22)
accompanied by a high volume of retail deliveries to consumers. Of the 1.5 million cars produced
in the first quarter,
only 100,000 cars were added to dealers7 stocks. At 400,000
on April 1, these represented less than one month's sales.
Trend in household appliances
Production of television sets in the first quarter of this
year totaled nearly 2.3 million units. This was lower than
the Christmas quarter of 1952 but the decline was less than
seasonal. A drop of more than seasonal proportions, however, is indicated for April. Output of television sets was
aided by the addition of 59 new telecasting stations, of which
41 began to operate in the first quarter of 1953. Radios
benefited by the strong consumer demand for the relatively
new clock model, the production of which more than doubled
from 1951 to 1952. Output of most other radio models
declined.
Manufacturers of major household appliances have operated at the highest rate in 2 years. On a seasonally adjusted
basis, the rise of nearly one-fifth in output from the fourth
quarter to the first was the third largest quarter-to-quarter
advance in the postwar period. Substantial increases in
output occurred for most lines, ranging from somewhat less
than 10 percent for washing machines to two-fifths for
refrigerators. The rise in output of refrigerators followed an
extended period of relatively depressed conditions in the
industry.
Among the newer types of home appliances, the strong
postwar uptrend in freezers and room air conditioning units
continued but there was some decline for dryers. Quarterly
data are not available for room air conditioning units but
trade reports indicated continued growth in demand for this
product. More complete figures for 1952 show manufacturers' and distributors' sales to dealers in that year totalled
341,000, nearly half again as large as in 1951.
Fluctuations in the production of furniture during the
period shown in the chart have been less severe than those
in other household durables. Output in the first quarter of
1953 levelled off at the high fourth quarter rate following a
slow but steady recovery under way since the closing months
of 1951.
Production fluctuates more than sales
On the whole, the rise in output of household durables has
been considerably greater than the increase in consumer
purchases of these products Production in the first half of
1952 remained below the rate of consumer purchases so that
stocks at all levels were being reduced. Since last summer,
production has risen substantially both to replenish inventories and to keep pace with the increase in consumer buying.
Available evidence indicates that total inventories of household durables are not higher than a year ago though consumption expenditures for these products have risen 8 percent. Moreover, retail prices of household durables drifted
downward during 1952 so that unit sales of these lines were
higher than indicated by the rise in the value of retail bu3^ing.
In the consumer nondurable goods segment production on
the whole was relatively stable throughout the period shown
in the chart. Increases in output from the fourth to the
first quarter of 1953, while widespread, were generally of
moderate proportions. The largest relative increase in
production over a year ago, more than 10 percent, occurred
in apparel, a reflection of the strong pickup in consumer
buying which developed in the latter part of 1952.
BUSINESS STATISTICS
WlontU.
JL HE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1951 Statistical Supplement to the SURVEY
or CURRENT BUSINESS. That volume (price $1.50) contains monthly data for the years 1947 to 1950, and monthly averages for earlier years
back to 1935 insofar as available; it also provides a description of each series and references to sources of monthly figures prior to 1947. Series
added or revised since publication of the 1951 Supplement are indicated by an asterisk (*) and a dagger (t), respectively, the accompanying footnote indicating where historical data and a descriptive note may be found. The terms "unadjusted" and ''adjusted" used to designate index
numbers and dollar values refer to adjustment of monthly figures for seasonal variation.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely.
vided through the courtesy of the compilers, and are subject to their copyrights.
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
Data from private sources are pro-
1953
1952
March
April
May
June
July
August
September
October
November
December
January
February
March
GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT!
Seasonally adjusted quarterly totals at annual rates:
National income total
bil of dol
Compensation of employees, total.
do
Wages and salaries, total
do
Private
do
Military
do
Government civilian
do
Supplements to wages and salaries
do
Proprietors' and rental income, totaled do
Business and professionalcf
do
Farm
do
Rental income of persons
do
Corporate profits and inventory valuation adjustment total
bil of dol
Corporate profits before tax, total
do
Corporate profits tax liability
do
Corporate profits after tax
do
Inventory valuation adjustment
do
Net interest
do
Gross national product, total
do
Personal consumption expenditures total do
Durable goods
do
Nondurable goods
do
Services
do
Gross private domestic investment
do
New construction
do
Producers' durable equipment ,
do _.
Change in business inventories
do
Net foreign investment
do
Government purchases of goods and services,
total
bil. of dol
Federal (less Government sales)
do
National security 9
_ do
State and local
do
Personal income, total
Less* Personal tax and nontax payments
Equals' Disposable personal income
Personal savin g§
do
do
do
do
288.0
186.5
177.4
145 8
10 0
21.7
9.0
52.1
27.3
15.4
9.4
285.6
186.9
177.8
145 6
10.2
21.9
9.2
51.9
27.6
14.8
9.5
42.7
42.7
23.4
19.3
— .1
6.7
'21. 0
«• 17.2
1.7
6.9
T
339.7
213.2
25.2
118.0
70.0
50.0
23.7
25.7
.6
2.2
342.6
214 9
26.4
117.8
70.8
49.3
23.6
25.7
.1
4
343 0
215 0
24 2
118 9
71 9
51 7
23 0
25.0
3 7
—1 6
74.4
51.2
46.4
23.2
78.0
54.9
50.3
23.0
263.0
33.5
229.5
16.3
264. 4
33.6
230. 8
15.9
r
r
39.9
38.2
287
190
181
148
7
3
0
3
300 2
197.9
188 2
155 3
201.6
191 8
158 7
9
52
27
15
9
3
5
5
2
8
9 6
53.6
28 2
15 5
10 0
9 8
53. 6
28 6
14 9
10 1
T
37 8
37.2
20 4
16. 8
6
7 1
r
41 5 . _
40.3
22 1
_
r 18. 2
1 2
7 2
— 5
7. 4
359. 0
222 0
27.3
121 4
73 3
57 3
23 7
25.6
8 1
r
9
361 0
226 2
29 8
121 7
74 6
54 4
25 2
27. 5
1 7
—2 0
77.9
54 8
49. 6
23. 1
80.6
56.6
50.4
24.0
82.4
57 5
51. 2
25 0
268.9
34 1
234.8
19.8
277.0
34 6
242. 5
20 5
r
281
35
245
19
3
7
6
5
PERSONAL INCOME, BY SOURCEf
Seasonally adjusted, at annual rates:
Total personal income
bil. of dol_
Wage and salary disbursements, total
do
Commodity-producing industries
do
Distributive industries
_ _
do
Service industries
do
Government
- _
_- - -do
Wage and salary receipts, total
do
Other labor income
do
Proprietors' and rental income
do_ Personal interest income and dividends.. _do
Transfer payments _ ___
_ _ . _ __do_ __
Less personal contributions for social insurance O
bil. ofdoLTotal nonagricultural income
do___
261.9
177.3
77.7
47.0
20.8
31.8
173.9
4.3
50.7
21.0
12.4
262.5
176.7
76.9
47.0
21.0
31.8
173. 4
4.4
51.2
21.5
12.3
264.5
177.9
76.7
47.7
21.3
32.2
174.6
4.4
51.7
21.5
12.6
266. 7
179.3
77.2
48.5
21.3
32.3
175 8
4 5
52.8
21.4
12.5
263.9
177.4
74.0
49.3
21.5
32.6
173.9
4.5
52.2
21.3
12.4
269. 6
182.5
78.7
49.4
21.5
32.9
179.0
4 5
51.8
21.4
13.1
273 8
185.3
81.6
49.3
21 6
32.8
181 9
4 5
53 4
21.4
12.9
276 1
187.5
82.9
49 9
21 8
32 9
184 0
4 6
53 5
21.3
13 0
275.8
187.9
83.5
49 6
21 9
32 9
184 4
4 6
52 9
21.3
12 8
280 0
189.9
85.4
50 0
21 9
32 8
186 4
4 7
54 6
21.2
13 4
280 6
190.3
85.2
50 1
22 1
32 9
186 5
4 7
54 6
21.4
13 6
r 2^0 9
M91.8
«• 86. 2
50 3
r
22 2
r 33 1
r
188 2
4 7
r 53 3
21.5
13 4
282 5
193. 2
87.1
50 4
22 5
33 2
189 6
4 7
53 Q
21.7
13 8
3.8
3.6
3.6
3.8
3.9
3.7
3.7
3.8
3.7
3.8
4.0
3.8
3.9
242.7
242.9
244.9
245.9
243.4
249.4
253 0
255 4
255 7
258 8
259 5
r 261 1
262 8
NEW PLANT AND EQUIPMENT
EXPENDITURES}:
i 6 54^
6, 141
6,808
All industries, quarterly total _ . mil. ofdoL.
6 244
7 265
2, 650
Manufacturing
do
3, 1 56
2 820
i 3 Q28
3 367
1 008
217
Mining
do
228
206
229
i 335
360
386
Railroads
do
289
357
372
Transportation, other than rail
_ _ _ d o _ _.
356
302
i 304
335
947
821
928
Public utilities
do
i ] Q30
1 142
1
Commercial and other
do
1,737
1, 738
1, 680
L835
1, 636
r
Revised.
* Estimates for January-March 1953 based on anticipated capital expenditures of business.
t Revised series. Quarterly estimates of national income and product and quarterly and monthly estimates of personal income have been revised beginning 1949; see pp. 29-31 of the July
1952 SURVEY for the data.
(^Includes inventory valuation adjustment.
9 Government sales are not deducted.
§ Personal saving is excess of disposable income over personal consumption expenditures shown as a component of gross national product above.
OData through 1951 represent employee contributions only: thereafter, personal contributions of self-employed
persons are also included.
^Revised beginning 1939. Revisions for 1939 and 1945-50 appear on pp. 20 and 21 of the August 1952 SURVEY; those for 1951, on'p. 9 of the March 1953 issue.
S-l
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
May inr>o
1953
1952
March
April
May
July
June
August
September
October
November
December
January
February
GENERAL BUSINESS INDICATORS—Continued
FARM INCOME AND MARKETINGS*
Cash receipts from farming, including Government
payments, total
mil. of dol
Farm marketings and CCC loans, total
do
Crops
do
Livestock and products, total
do
Dairy products. - _
do .
Meat animals
do
Poultry and eggs
_. -_do
Indexes of cash receipts from marketings and CCC
loans, unadjusted:
All commodities
_.
1935-39=100.Crops
do
Livestock and products
do
Indexes of volume of farm marketings, unadjusted:
All commodities
1935-39—100
Crops
do
Livestock and products
- do - _
2,122
2 711
2,697
1 235
1 462
410
759
269
2 882
2.874
1 377
1 497
394
812
278
3 620
3,609
1 926
1,683
370
984
316
4 123
4,098
2 303
1,795
365
1,088
330
3 546
3,528
1 877
1 651
346
911
384
3 072
3,056
1 537
1 519
338
826
349
2 742
2,717
1 331
1 386
337
780
259
1 889
1,872
669
1 203
311
654
231
2 03 r>
2.010
69S
1 382
357
725
290
407
436
385
434
487
394
544
681
443
618
814
472
532
663
435
461
544
400
410
470
365
283
238
317
301
222
364
139
108 i
162
154
165
145
161
182
145
196
237
164
220
274
179
190
217
170
180
197
168
164
183
149
115
131
123
83
153
2,079
628
1, 451
369
817
254
2,100
2,053
571
1.482
'389
812
262
2, 176
2, 142
573
1 , 569
433
825
272
314
222
382
310
202
390
323
202
413
356
301
398
119
76
151
116
64
155
123
68
164
2,381
2,361 !
851
1, 510
427
769
271 i
:
Q3
INDUSTRIAL PRODUCTION
Federal Reserve Index
Unadjusted, combined index
1935-39= 100
Manufactures
217
215
211
205
194
218
232
233
235
233
228
224
224
215
203
228
242
245
246
246
r
283
263
149
175
135
359
218
204
252
277
245
152
170
143
354
218
203
257
278
246
145
368
133
353
216
199
260
249
140
155
169
148
352
210
195
246
269
244
160
175
152
336
213
197
251
292
270
167
183
159
354
225
216
248
301
281
164
189
151
363
237
231
251
305
283
160
191
143
371
241
236
251
r
>
!
i
232
139
150
165
143
331
201
184
241
212
200
167
239
327
222
216
226
168
242
329
227
224
241
167
260
33S
231
225
237
169
266
339
229 i
21 6
236
160
255
287
162
231
261
169
300
175
232
263
167
267
353
247
235
267
173
262
371
265
226
252
167
245
376
272
184
155
298
563
108
86
122
148
180
158
291
558
105
90
115
154
197
147
96
187
176
296
563
102
90
111
165
217
147
124
!
165
82
180
155
295
559
102
84
114
149
152
152
89
181
186
295
565
90
77
98
174
215
137
179
195
159
299
568
116
95
129
185
214
138
234
201
159
305
567
111
95
123
192
173
154
279
200
173
309
578
112
104
118
178
133
169
190
199
163
313
595
114
107
120
165
106
190
114
192
188
278
204
210
180
242
152
141
288
112
164
186
181
261
166
205
180
235
144
130
280
108
174
182
175
209
165
157
174
242
151
135
287
117
178
182
177
251
72
216
175
246
154
133
312
112
197
;
•
159
153
259
67
225
145
225
147
111
343
103
179
188
180
280
169
231
157
242
170
143
369
123
193
191
181
282
177
234
166
252
177
145
377
137
198
203
192
279
179
225
180
260
172
142
361
134
197
158
170
68
122
199
90
165
171
74
119
201
130
143
140
73
107
159
159
149
161
74
102
193
74
1
:
i
'
:
144
155
57
91
190
81
161
161
61
102
194
164
180
180
88
144
203
178
do
221
216
211
204 !
193
215
do
231
225
224
214
i
202
225
285
158
149
218
252
222
244
175
239
277
152
143
218
257
220
238
173
242
277
142
128
216
259
217
230
168
243
247 i
146 1
134 i
210
247
222
222
170
269
230
141
128
201
242
214
215
158
266
267
149
135
213
251
221
231
163
261
do
Durable manufactures
do
Iron and steel
._ . _ doLumber and products .
-do-_ _
Furniture
do
Lumber _
.. .
_ .do
Machinery
do
Nonferrous metals and products
do
Fabricating
do
Smelting and refining
. do _ Stone clay and glass products
Cement
Clay products
Glass containers
Transportation equipment
Automobiles (incl. parts)
do
do
do_
- do
do.
do
Nondurable manufactures
do
Alcoholic beverages
_ ..do
Chemical products
do
Industrical chemicals
-do
Leather and products
do
Leather tanning
_
_do _
Shoes
do
Manufactured food products
do
Dairy products
. _ . . - - - do_ Meat packing
do
Processed fruits and vegetables
do
Paper and products
Paper and pulp
- --Petroleum and coal products
Coke
Gasoline
Printing and publishing
Rubber products
Textiles and products
Cotton consumption
Rayon deliveries
_ Wool textiles
Tobacco products
.Minerals
Fuels
Anthracite
Bituminous coal
Crude petroleum
Metals
do
__ _ _.
_- -_do_ _
. _ _ _ do__
do
do___
- do
Adjusted combined indexo*
Manufactures
do
do...
do
do...
do
do
do
do
do
do
do
_ do .
_
Durable manufactures
do
Lumber and products
_ _ _ _ _ _ _ do
Lumber
do. _
Nonferrous metals
do
Smelting and refining
__ _.
do .
Stone clay, and glass products
do
Cement
- do
Clay products..
__ __ _ _ d o _ _
Glass containers
do
116
;
i
'
!
:
'
!
!
i
'
;
232
r236
p 239
245
' 250
T 254
'310
286
151
196
128
385
246
241
259
312
287
151
189
132
r
391
249
242
266
319
T
290
' 159
192
' 142
r
396
f> 325
297
P 164
•P 196
P 147
P 404
T 259
T 243
f 299
r
r 209
r 216
210
392
282
209
155
227
T
392
r
282
212
' 159
248
r 405
301
193
142
314
598
107
99
112
161
107
208
100
191
134
311
r
594
r
117
103
126
153
98
199
'91
r 194
205
194
290
182
233
183
264
176
149
356
137
184
195
185
291
186
229
172
'272
169
141
337
138
159
200
191
'293
188
230
168
268
169
140
350
130
178
166
167
95
93
203
164
170
177
87
135
202
131
163
176
71
125
207
84
159
172
60
116
204
'84
228
230
234
235
236
r
240
p 242
237
242
245
247
249
r
254
p 257
290
155
140
225
248
222
227
161
261
300
155
138
237
251
224
231
163
254
304
161
146
240
251
221
233
162
242
313
165
149
246
258
r
221
254
r
160
225
315
171
162
249
266
222
257
168
232
322
175
166
259
?93
933
279
' 168
255
327
173
161
259
298
238
273
f> 171
272
2l4
231
r
165
r
r
r
r
r
r
r
r 259
' 245
' 293
144
314
r
597
122
108
131
' 148
109
r
166
'89
r
v 227
224
J> 162
272
f 413
f 308
f 1%
161
f 319
r 604
v 150
128
16G
p«si
' 208
198
293
188
r
231
r
178
268
r
173
149
'338
142
184
f 207
158
170
60
109
205
86
f 155
T 167
51
107
p 202
f 89
r
p 288
189
p 225
185
p 276
p 173
148
p 349
183
188
183
181
191
186
179
194
195
Nondurable manufactures
- do
197
194
195
198
p 200
170
157
152 i
162
151
150
162
155
Alcoholic beverages _ _ _
.. _ ..do _
180
166
159
158
173
r
294
302
292
292
298
299
302
304
Chemical products.
.do _
308
309
309
'310
* 315
102
108
105
116
103 ;
91
112
112
Leather and products
do
113
116
107
119
r
86
84
92
81
97
90
97
103
Leather tanning _
. _.. do
103
103
100
101
r
T
164
T 1(,5
163
166
166
162
160
168
165 !
161
Manufactured food products
do
164
164
p 168
142
146
148
148
147 ;
145
148
146 j
Dairy products _
do
147
152
151
151
154
T
179
165
158
146
148 :
147
170
169 i
Meat packing. _ _ ._ ... _ _ . _ . _do._ _
170 i
176
169 ;
174
179
r
150
146
123
147
161
138
143
124 !
Processed fruits and vegetables
do
147
128
' 141
140 !
p 147
r
Revised.
* Preliminary.
JRevisions for January 1950-July 1951 based on final data will be shown later. Revisions for 1910-49, incorporating changes in methods of estimation and adjustments in production, disposition, and prices, are shown on p. 23 of the December 1951 SURVEY.
cfSeasonal factors for a number of industries were fixed at 100 during 1939-42; data for these industries are shown only in the unadjusted series.
SURVEY OF CURRENT BUSINESS
Msiv 1053
I'nless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-3
19 52
March
April
May
June
July
1953
August
September
October
Novem- December
1
ber
January
~
March
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION—Continued
Federal Reserve Index — Continued
Adjustedd" — Continued
Manufactures— Continued
N endurable manufactures — Continued
Paper and products
_. .1935-39 =100. _
Paper and pulp
do
Printing and publishing
do
Tobacco products. _ _ _ _ _ . _ __ . ..do. _
Minerals _ _
Metals
-------
192
188
177
174
185
181
175
184
182
175
170
178
181
176
176
189
160
154
157
172
188
180
165
186
192
181
165
187
203
192
176
190
205
194
175
181
196
185
168
172
200
191
173
179
'207
197
'180
194
?207
164
125
166
141
140
143
147
65
142
65
1 56
131
175
149
164
145
171
138
168
117
164
'120
163
'123
" 160
v 124
43, 444
mil. of dol__
22, 085
__ - do __
10, 632
do_ _
11,453
do
8.326
do_ .
2,578
do
5,748
do _
13, 033
do
/ 4,312
_ do
8,721
do _ _
45, 763
23, 538
11,310
12, 228
8,862
2,787
6, 075
13, 363
4,494
8,869
45, 545
23, 247
11, 328
11,918
8,448
2,669
5,779
13, 850
4,927
8,923
44, 395
21,888
10,060
11,828
8,493
2,698
5,795
14,014
4,883
9,131
44, 474
21,858
9,777
12,081
8,949
2,817
6, 132
13, 667
4,494
9,173
43. 628
21,898
10,437
11,460
8, 371
2,495
5, 876
13, 359
4. 199
9,160
46.288
23, 663
11, 510
12,154
9,055
2,793
6,262
13, 570
4,505
9,065
48, 344
24, 753
11, 968
12, 785
9.389
2,931
6,458
14, 202
4,844
9,358
46. 229
23, 430
11,676
11,754
8,773
2,737
6, 036
14 026
4. 769
9,257
48. 023
24, 276
11,913
12, 363
9,337
2, 962
6,375
14 410
4,871
9,539
47, 383
24, 292
12,195
12,097
8,951
2,777
6,174
14, 140
5, 000
9,140
••49,017
' 25, 360
'13,019
' 12, 342
' 9, 143
2, 929
' 6, 214
' 14, 514
' 5, 304
' 9, 211
49. 046
25, 428
13,035
12,392
9, 205
2. 949
6, 256
14,413
5, 181
9,232
_ _
do _ _
do
•P 182
194
BUSINESS SALES AND INVENTORIES§f
Business sales (adjusted), total
Manufacturing, total
._
Durable-goods industries
Nondurable-goods industries _
Wholesale trade, total
Durable-goods establishments
Nondurable-goods establishments
Retail trade total
Durable-goods stores
Nondurable-goods stores.-
Business inventories, book value, end of month
fad justed), total
mil. ofdol
Manufacturing, total
„ .-do
Durable-goods industries
do
Nondurable-goods industries
do
Wholesale trade total
do
Durable-goods establishments
_ do
Nondurable-goods establishments
do
Retail trade total
_ do
Durable-goods stores _ _
do _
Nondurable-goods stores
_ do
73, 620
43, 237
23, 401
19, 836
10,062
5, 055
5,007
20, 321
9,583
10, 738
73, 876
43, 402
23, 596
19, 805
9,997
5,054
4,943
20, 477
9,624
10, 853
73, 074
43, 144
23, 595
19, 550
9,861
4,955
4,906
20, 069
9,112
10, 957
72, 913
42, 892
23, 348
19, 544
9,896
4,858
5,038
20,125
9,030
11,095
72, 765
42, 748
22, 962
19, 786
9,890
4,864
5,026
20, 127
8,749
11,378
72,714
43, 107
23, 200
19, 908
9,862
4,934
4,928
19, 745
8, 626
11,119
73, 437
43, 224
23, 292
19, 932
9,932
4, 964
4, 968
20, 281
8, 956
11, 325
74, 189
43, 415
23, 615
19, 800
10, 122
4,986
5, 136
20, 652
9, 175
11, 477
74, 682
43, 596
23, 835
19,761
10, 191
5.084
5,107
20, 895
9,384
11, 511
74, 757
43, 824
24, 292
19,532
10, 129
5,079
5, 050
20. 804
9, 352
11, 452
74, 619
43, 766
24 392
19, 374
10, 039
5,084
4,955
20, 814
9,539
11,275
' 74, 941
' 43, 848
r
24, 480
' 19, 368
' 10, 120
5,219
' 4, 901
' 20, 973
' 9, 905
' 11, 068
75, 179
43, 771
24, 558
19, 213
10, 181
5, 336
4, 845
21, 227
10, 139
11,088
MANUFACTURERS' SALES, INVENTORIES,
AND ORDER Sf
Sales:
Value (unadjusted), total
mil. ofdol
Durable-goods industries
- do -_
Nondurable-goods industries
do
23, 205
11, 270
11, 934
22, 950
11,237
11,713
22, 478
11,056
11,422
21,640
10, 284
11,356
20,051
8,844
11, 207
22, 605
10, 579
12,026
24, 700
11,905
12, 795
26, 488
12, 787
13, 701
23, 408
11,510
11, 898
249 315
I 172
12, 142
23, 888
11,747
12, 141
' 24, 184
' 12, 274
' 11, 909
26, 709
13, 810
12,900
Value (adjusted) total
do
Durable-goods industries, total _ _ _
do
Primary metals
_ _ _ __do
Fabricated metal products
do
Electrical machinery and equipment— -do
Machinery, except electrical
do
Motor vehicles and equipment-. _ _ _ _ - d o _ _ _
Transportation equipment, n. e. s
do
Furniture and fixtures
- _ _ do Lumber products, except furniture
do
Stone clay, and glass products
do
Professional and scientific instruments- -do
Other industries, including ordnance-__do
22, 085
10, 632
,973
,126
,059
,970
,599
677
313
576
484
257
597
23, 538
11,310
1,994
1,256
1,036
2,079
1,736
746
318
687
472
303
684
23. 247
11,328
1,934
1,197
1,069
2,033
1,812
817
336
642
509
297
684
21, 888
10, 060
991
1,085
1, 154
1,964
1,815
736
350
597
483
265
619
21, 858
9,777
1,113
1,184
1.106
1,942
1,167
790
377
621
497
302
678
21 , 898
10,437
1,930
1,053
1,168
1,833
1,309
811
389
600
522
261
563
23, 663
11,510
2. 107
1,156
1,256
1,966
1,831
749
419
629
545
245
607
24, 753
11,968
2,198
1, 263
1,205
2,068
1,842
812
410
678
553
277
663
23, 430
1 1 , 676
2,100
1.177
1,238
2, 060
1,826
923
362
596
518
255
623
94 976
11 913
2,048
1 287
1,259
9
053
1,920
819
362
727
497
310
629
24. 292
12, 195
2,082
1,397
1,256
2,138
2,068
817
305
721
509
312
590
' 25, 360
' 13, 019
' 2, 115
' 1, 481
' 1, 532
' 2, 204
' 2, 164
'837
'315
'766
'571
'311
'723
25, 428
13, 035
2,127
1,463
1 , 554
2, 093
2, 350
801
359
705
581
331
671
11, 453
3,126
530
292
1.093
958
231
651
702
1,515
1,949
406
12, 228
3,280
564
318
1,244
1,130
261
633
760
1,573
2,028
437
11,918
3,312
568
311
1,148
1,121
274
630
720
1,566
1,846
424
11,828
3,171
638
310
1,116
1,124
290
625
684
1,495
1,945
430
12,081
3, 267
609
325
1,162
1, 171
267
650
704
1,560
1,956
408
11,460
3, 012
573
310
1,058
965
282
667
667
1,473
2.003
452
12, 154
3, 246
534
324
1,137
1,068
275
699
678
1,602
2,109
482
12, 785
3,452
513
327
1,188
1,281
265
734
720
1, 660
2,181
464
11,754
3,191
457
309
1 . 084
1,143
234
663
678
1 , 532
2, 059
403
12,363
3 293
545
344
1, 151
1,260
288
682
691
1,558
2,114
438
12, 097
3.211
478
306
1,108
1,046
299
736
725
1,667
2,014
507
' 12, 342
' 3, 314
' 465
'333
'1,113
' 1, 038
'307
' 722
'754
'1,715
' 2, 081
499
12, 392
3, 357
530
324
1,140
1,012
283
708
727
1,742
2, 063
do__
do
do
43, 732
23, 647
20, 084
43, 614
23,813
19,801
43, 407
23, 924
19, 483
42, 972
23, 518
19, 454
42, 660
23, 050
19,610
42, 707
23,116
19, 591
42, 660
23, 147
19, 513
42, 920
23, 385
19, 536
43, 243
23, 553
19, 690
43, 829
24, 045
19,784
44, 037
24. 253
19. 784
' 44, 264
' 24, 539
' 19, 726
44, 259
24, 802
19, 457
do
_ do_ _.
do
16, 539
11,808
15,385
16, 303
11,900
15, 411
16, 156
11,919
15, 332
15, 871
11,782
15, 320
15, 737
11,813
15, 110
15,699
12.041
14, 967
15, 836
12, 132
14, 692
16, 058
12, 272
14, 590
16,236
12,268
14,739
16,414
12,516
14,898
16, 106
12, 735
15,195
' 16, 030
' 13, 044
' 15, 190
15,923
13,3.56
14,980
Book value (adjusted), total
.-_
do. __
Durable-goods industries, total
do Primary metals
do
Fabricated metal products
do
Electrical machinery and equipment— .do
Machinery, except electrical
do - _
Motor vehicles and equipment
do
Transportation equipment, n. e. s
do
Furniture and fixtures. _- . _ _ . _ _ do __
Lumber products, except furniture
do
Stone, clay, and glass products
do
Professional and scientific instruments .do
Other industries, including ordnance.- -do
43, 237
23, 401
2,882
2,438
3,074
5, 465
2, 670
2,124
549
1,058
903
735
1,504
43, 402
23, 596
2.886
2,445
3,119
5,539
2, 669
2,170
560
1,041
922
748
1,498
43, 144
23, 595
2,909
2,432
3,133
5,525
2,674
2,177
566
1.040
926
748
1,466
42, 892
23. 348
2,945
2,344
3,107
5,461
2,562
2,202
556
1,030
937
762
1,444
42, 748
22, 962
2,928
2,235
3,062
5,314
2,517
2,248
555
1,005
922
757
1,420
43, 107
23, 200
2,971
2,309
3,037
5, 280
2.641
2,291
532
1,010 I
904
770
1, 456
43, 224
23, 292
3, 031
2,318
3,031
5,274
2, 636
2,343
534
1,006
892
764
1,462
43, 415
23, 615
3,084
2, 362
3,039
5,275
2,735
2,472
533
1, 019
874
778
1,445
43, 596
23, 835
3,165
2,401
3,032
5,287
2,853
2, 455
543
1 , 054
852
785
1, 408
43, 824
24, 292
3, 122
2.424
3, 096
5.411
3, 009
2,576
518
1.066
850
808
1,412
43, 766
24, 392
3,156
2,439
3,120
5, 396
3, 017
2, 566
525
1,072
872
809
1,420 i
' 43, 848
' 24, 558
' 3, 030
' 2, 420
' 3, 137
' 5, 445
' 3, 050
' 2, 609
'544
' 1, 076 i !
' 1, 890
'808 i
' 1, 422 '
43, 771
24, 558
3,038
2, 439
3, 157
5, 463
3, 116
2, 630
532
1,077
901
788
1,417
Nondurable-goods industries, total
do
Food and kindred products _
do
Beverages
do
Tobacco manufactures
_
do
Textile-mill products _
do ___
Apparel and related products _
_ do
Leather and leather products
do
Paper and allied products
. do__
Printing and publishing
do
Chemicals and allied products
do__
Petroleum and coal products
do _ _ _
Rubber products
do
Inventories, end of month:
Book value (unadjusted), total
Durable-goods industries
Nondurable-goods industries ._
By stages of fabrication:
Purchased materials .. - _ _
Goods in process
_ __
Finished goods
!
' Revised.
» Preliminary.
•? See note marked "c?1" on p. S-2.
§The term "business" here includes only manufacturing and trade. Business inventories as shown on p. S-l cover data for all types of producers, both farm and nonfarm. Unadjusted
data for manufacturing are shown on this page; those for retail and wholesale trade, on pp. S-8, S-9, and S-10.
t Revised series. All components of business sales, inventories, and orders have been revised since publication of the 1951 STATISTICAL SUPPLEMENT. The latest revision (affecting data
back to 1949) and appropriate explanations of changes for all series except retail sales appear in the October 1952 SURVEY (see pp. 12 ff.), in the November 1952 issue (see pp. 18 ff.), and in the
March 1953 issue (see'p. 20); the new estimates of retail sales (which begin with data for 1951), together with the revised old series for 1951, were first shown in the September 1952 SURVEY,
pp. 17 ff. Data through 1948 for manufacturers' sales and inventories and wholesale sales and inventories, comparable with current figures, appear in the October 1951 SURVEY (see pp. 1719 and 23, 24).
SURVEY OF CURRENT BUSINESS
S-4
ilay 195;
1952
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
March
April
May
June
July
1953
August
September
October
November
December
January
February
March
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDER Sf— Continued
Inventories, end of month — Continued
Book value (adjusted)— Continued
Nondurable-goods industries, total mil. of dol__
Food and kindred products
do
Beverages
do
Tobacco manufactures
do
Textile-mill products
do
Apparel and related products
do
Leather and leather products
do
Paper and allied products
_ _ _ do
Printing and publishing
do
Chemicals and allied products _ - _ _ do _ _
Petroleum and coal products
do
Rubber products
do
19, 836
3, 556
1,317
1,685
2,772
1,650
587
1, 032
772
2,998
2,602
865
19, 805
3,522
1,313
1, 693
2,779
1,590
582
1,059
778
2,986
2, 628
877
19, 550
3,486
1,321
1,704
2,735
1,543
575
1, 039
751
2,973
2, 544
878
19, 544
3,473
1,296
1,693
2,734
1,537
558
1,028
741
3,011
2,607
864
19, 786
3,485
1,289
1,724
2, 764
1,685
554
1,007
715
2,995
2,683
884
19, 908
3,489
1,259
1,720
2,798
1,770
543
972
722
3,022
2,728
884
19, 932
3,443
1,268
1,726
2,833
1 725
541
973
734
3,022
2,788
877
19, 800
3,488
1,222
1 726
2,841
1 609
549
960
744
3,010
2 777
874
19, 761
3,450
1,202
1 742
2,743
1 618
545
974
775
3,009
2 805
897
19, 532
3 332
1, 164
1 778
2 654
1 665
548
1,001
758
2,968
2 727
936
do
do
do
do _ _
do
do
motor
of dol
do
do
do
do
23, 404
12, 171
1,749
984
1,955
1,708
24, 251
12,443
2,258
1.262
1,289
1,934
22, 748
10, 956
1,883
1,275
1, 156
1,713
25, 042
13, 138
1,271
1,278
1,355
1,908
23, 434
11, 140
1,374
1,252
1,174
1,916
21, 852
9,998
1 789
1, 142
1,066
1,515
24 516
12,328
2 194
1 375
1,311
1 883
24 152
11 452
2 211
1 289
1,324
1 926
23 061
11 441
1 855
1 169
1,184
1 999
24 466
12 Oil
1 834
1 203
1,366
1 965
24 270
12 080
2 097
1 408
1,579
1 784
r 25 749
r
13 357
r 2 165
3,660
2,116
11, 234
2,457
8,777
3,129
2,517
11, 808
2,477
9,330
2,474
2,456
11,792
2,645
9,146
4,734
2,592
11, 904
2,791
9,113
2,815
2, 609
12, 295
2,996
9,298
2, 368
2,118
11, 854
3,067
8,787
3 301
2, 265
12,187
2,823
9,364
2 252
2 451
12, 700
2,822
9,878
2 789
2 445
11,620
2,525
9,095
2 991
2 651
12, 456
2,904
9,552
2 946
2 335
12, 190
2,960
9,230
r 3 824
r
2 583
>• 12, 392
' 2, 946
r 9, 446
3 215
2 792
12, 454
2,921
Unfilled orders (unadjusted), totalO
do
Durable-goods industries, total
_ do
Primary metals
do
Fabricated metal products
_ __ _ _do
Electrical machinery and equipment
do
Machinery, except electrical
_
_ _do - .
Transportation equipment, including motor
vehicles and parts
mil. of dol
Other industries, including ordnance
do
Nondurable-goods industries, total 9 - -- do
68, 992
65, 887
7,800
5,781
10, 596
11,941
69, 978
67, 114
8,042
5,997
10, 735
11,719
69, 230
66, 309
7,838
5,974
10, 754
11,303
72, 541
69, 340
8,104
6,088
1 1, 302
11,097
74, 985
71, 705
8,561
6,196
11,497
11, 279
75 220
71, 882
8 597
6,226
11,419
11,115
75 662
72, 305
8 465
6 383
11,512
10 942
74 478
71 256
8 406
6 335
11, 501
10 651
73 163
70 049
8 125
6 209
11, 241
10 438
7° 520
69 605
7 93Q
5 994
11,338
10 226
73 366
70 230
7 874
6 305
11, 592
10 102
r 73 699
r 70 492
r 7 843
r 9 871
73 989
70 669
7 946
6 284
11, 346
9 761
23, 644
6,125
3,105
24, 394
6,228
2,864
24, 344
6,097
2,922
26, 478
6, 271
3,201
27, 563
6,609
3,280
27, 912
6,613
3,338
28 587
6, 417
3 357
28, 249
6,112
3 223
28 081
5,954
3 114
28 380
5,737
2 915
28 536
5,820
3 136
r 29 128
r 5, 963
r 3 208
29 136
6,197
3 320
New orders net (adjusted) totalO
Durable-goods industries, total
Primary metals
Fabricated metal products
Electrical machinery and equipment
Machinery except electrical
Transportation equipment, including
vehicles and parts
mil.
Other industries, including ordnance
Nondurable-goods industries, total
Industries with unfilled orders 9
Industries without unfilled orders^
19, 374
3 312
1, 153
1 773
2 606
1 689
r 549
f
990
r
' 19, 368
3 3-8
r
r
l! 184
r
1 738
r
2 618
r I
683
' 534
992
r
746
2 894
2 713
r
f
r
2 915
2 716
915
r
19, 213
3 334
1,194
1 737
2 588
1 625
551
998
743
2,885
2 642
887
r i 390
r
1, 582
r 1 813
r 6 247
r
11, 440
25 249
12' 794
2 243
1 355
1,252
1 937
9,534
BUSINESS POPULATION
OPERATING BUSINESSES AND BUSINESS
TURN-OVER
Operating businesses, end of quarter, total thous
Contract construction
do _ _
Manufacturing
do
Service industries
do
Retail trade
_ _ do
Wholesale trade
do
All other
do
4, 035. 9
390.6
305.1
863.2
1, 663. 9
210.0
603.2
4, 050. 0
399.4
303. 1
865.8
1, 663. 3
210.6
607. 7
r
r
4r 059. 0
404. 4
rT 300 5
868. 2
1,r 661. 1
211.4
r
613. 3
New businesses, quarterly total
Contract construction
Manufacturing
Service industries
Retail trade
Wholesale trade
All other
do
do
do
do
do
do
do
122.8
24.2
12.9
21.2
41.6
5.3
17.6
110.6
22.2
10.8
18.6
39.6
4.6
14.8
90 2
16.2
86
15.3
33.1
3.9
13 2
Discontinued businesses quarterly total
Contract construction
Manufacturing
Service industries
Retail trade
Wholesale trade
All other
do
do
do
do
do
do
do_
100.8
13.9
12.1
17.6
41.6
3.7
11.9
96 6
13.4
12.8
16 0
40.3
3.9
10.2
81.3
11.2
11.2
12.9
35.2
'3.2
'7.6
Business transfers, quarterly total§
do
130.2
101.0
101.2
-
BUSINESS INCORPORATIONS^
New incorporations (48 States)
- _ number. .
7,902
8,284
7,915
7,819
7,549
7,088
7,529
8,223
6,741
8,274
9,468
715
55
72
148
371
69
780
58
93
171
375
83
638
60
75
111
333
59
671
52
78
128
340
73
580
41
48
133
299
59
594
51
58
109
316
60
539
36
50
107
288
58
631
52
88
146
291
54
590
61
62
121
280
66
583
43
76
131
288
45
29, 232
4,563
2,485
13, 046
6,905
2,233
29, 530
1,744
3,853
12, 633
7,050
4,250
21, 193
1,219
2,646
10, 217
5,264
1,847
21, 222
1,971
2,990
6,971
7,024
2,266
22, 789
1, 466
3,196
8,882
5,434
3,811
16, 322
1,809
1,816
5,056
5, 255
2,386
20, 138
947
2,729
6,780
5,317
4,365
35 049
2,175
5, 167
13, 079
6,078
8,550
18 757
3 027
1, 588
5,853
5 865
2,424
23 400
953
5,068
8 458
7 046
1, 875
r
7, 943
9,635
647
39
78
130
334
66
691
49
86
132
348
76
739
63
85
154
361
76
23 309
868
?, 735
9, 107
8 009
2 590
27 273
1/180
31 082
1 387
3, 506
12, 213
10 423
3,553
INDUSTRIAL AND COMMERCIAL
FAILURESc?
Failures, total
„
_
_
number
Commercial service . _ _
_ _ __ do
Construction
do
Manufacturing and mining.
do _
Retail trade
do
Wholesale trade.
...
_ _ do
Liabilities total
Commercial service
Construction
Manufacturing and miningRetail trade
Wholesale trade
_
r
thous. of dol
do
do
_do_ __
do
do_ __
0
OTQ
8,452
9 139
5 124
Revised.
» Preliminary.
fRevised series. See corresponding note on p. S-3.
OAdjusted data for new orders replace the unadjusted series formerly shown; for data beginning 1948, including those for unadjusted unfilled orders, see pp. 17 and 18 of the November
1952 SURVEY.
9 Includes textiles, leather, paper, and printing and publishing industries; unfilled orders for other nondurable-goods industries are zero.
IFor these industries (food, beverages, tobacco, apparel, petroleum, chemicals, and rubber), sales are considered equal to new orders.
§Revisionsfor 1944—1st quarter 1951 appear in corresponding note in June 1952 SURVEY.
c^Data are from Dun & Bradstreet, Inc.
SURVEY OF CURRENT BUSINESS
May 1958
S-5
1953
19 32
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
March
April
May
June
July
August
September
288
264
October
November
December
January
282
260
277
257
269
257
267
251
February
March .
263
247
264
253
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
Prices received, all farm products^
1910-14=100__
Crops
do
Food grains
_
-do
Feed grains and hay
do
Tobacco
do
Cotton
_ - --do
Fruit
do
Truck crops
- -do
Oil-bearing1 crops
do
Livestock and products
do
Meat animals
do
T) air v products
- __..
-do
Poultry and eggs
do
288
265
290
272
293
270
292
277
295
276
295
272
251
229
435
309
176
265
284
310
372
305
177
250
229
435
313
179
308
279
306
372
291
180
245
227
436
303
190
285
280
313
394
281
175
238
226
437
319
220
250
289
306
380
277
181
230
227
436
311
214
287
307
312
376
286
208
236
233
436
319
206
229
310
316
372
295
225
276
271
273
273
273
274
273
274
240
219
429
311
215
189
304
301
398
316
228
248
213
412
288
195
238
300
295
310
318
238
247
218
428
268
206
256
300
280
291
309
221
245
214
419
252
208
237
291
281
303
296
218
240
206
424
255
209
237
287
277
305
286
206
246
208
424
266
215
248
291
274
301
277
216
271
271
272
269
269
269
268
269
266
267
269
264
267
268
265
264
266
261
265
269
261
240
234
428
329
200
182
305
309
349
307
227
Prices paid :
All commodities
1910-14=100
Commodities used in living
do
Commodities used in production
_
-do
All commodities, interest, taxes, and wage rates
1910-14 = 100.-
275
271
280
'281
276
271
281
273
272
273
288
289
289
286
286
287
285
282
281
280
282
280
281
Parity ratio 9 _ _
100
100
101
102
103
103
101
100
99
96
95
94
94
All commodities (U. S. Department of Commerce
index)
1935-39=100
208.7
209.7
210.3
210.6
211.8
211.8
211.1
210 7
210 4
209.6
209.0
207.8
208.2
Consumer price index (U. S. Department of
Labor) :f
All items (revised series)
1947-49=100
Apparel
do
Food
do
Dairy products
__ __ _ _ _ do
Fruit and vegetables
do
Meats, poultry, and
fish
do
Housing
__
do
Gas and electricity
do
Housefurnishings
do_ _
Rent
do
112.4
106.4
112.7
112.0
113.7
115.2
114.0
103.8
109.4
116.7
112.9
106.0
113.9
110.4
121.1
114.8
114.0
103.9
108.7
116.9
113.0
105.8
114.3
109.3
124.3
114.5
114.0
104.1
108.3
117.4
113.4
105.6
114.6
108 9
122.4
116.5
114.0
104.3
107.7
117.6
114.1
105. 3
116.3
110.2
124.0
116.4
114.4
104.2
107.6
117.9
114.3
105.1
116.6
111.0
118.7
119.4
114.6
105.0
107. 6
118.2
114.1
105. 8
115.4
112.5
111.5
119.2
114.8
105.0
108.1
118.3
114 2
105 6
115 0
113 2
111.3
116 9
115. 2
105 0
107.9
118 8
114.3
105.2
115.0
113.3
115.9
114.3
115.7
105.4
108.0
119.5
114.1
105.1
113.8
112.7
115.8
113.0
116.4
105. 6
108.2
120.7
113.9
104.6
113. 1
111.6
116.7
110.9
116.4
105.9
107.7
121.1
113.4
104.6
111.5
110.7
115.9
107.7
116.6
106.1
108.0
121.5
i 113. 6
104.7
111.7
110.3
115.5
107.4
116.8
106.5
108.0
121. 7
115.7
111.0
106.3
124.4
114.8
115.9
111.3
106.2
124.8
115.2
116.1
111.6
106.2
125.1
115. 8
117.8
111.7
106.8
126.3
115.7
118.0
111.9
107.0
126.8
116.0
118.1
112.1
107.0
127.0
115.9
118.8
112.1
107.3
127.7
115.9
118.9
112.3
107.6
128.4
115 8
118.9
112.4
107.4
128.9
115.8
119.3
112. 5
108.0
128.9
115.9
119.4
112.4
107.8
129.3
115.9
119.3
112.5
107. 5
129.1
115.8
119.5
112.4
107.7
129.3
117.5
U. S. Department of Labor indexes (revised) :f
All commodities
1947-49=100
112.3
111.8
111.6
111.2
111.8
112.2
111.8
111.1
110.7
109.6
109.9
109.6
110.1
Farm products
__do__
Fruits and vegetables, fresh and dried--_do
Grains
- __do_ _
Livestock and live poultry
do
108.2
123.9
102.0
105.2
108.7
127.3
100.9
106.6
107.9
128.9
98.8
108.9
107.2
124.2
95.4
107.2
110.2
128.2
94.9
108.2
109.9
124.3
96.9
106.4
106.6
115.6
96.9
99.3
104.9
111.7
95.0
94.8
103.6
113.2
96.5
93.0
99.2
112.3
96.1
86.8
99.6
107.3
94.6
92.7
97.9
102. 2
93.1
91.2
100.0
105.9
94.7
91.7
Foods processed
__do .
Cereal and bakery products
do
Dairy products and ice cream __ _ d o _
Fruits and vegetables, canned and frozen
1947-49=100..
Meats poultry, and
fish
do
109.2
107.5
113.3
108.0
107.4
112.2
108.6
107.0
110.6
108.5
106.7
110.1
110.0
106.5
113.8
110.5
106.4
114.3
110.3
106.5
116.4
108.5
106.4
115.9
107.7
107. 1
115. 5
104.3
106.8
113.0
105.5
106.8
111.9
r
105. 2
107. 6
110.9
105. 0
108.9
109.7
104.9
111.0
104.6
109.4
104.2
112.1
103.5
110.1
103.9
110.6
105.1
112.3
105.9
109.4
105.9
104.1
106.0
102.0
105.0
93.9
105.4
99.3
T
105. 5
98.2
105.1
94.4
113.8
105.4
117.0
93.1
47.3
109.6
107.9
113.3
104.8
116.8
92.7
42.6
109.8
108.0
113.0
104.3
115.1
92.2
47.2
111.5
107.3
112.6
104.3
114.9
92.2
52.0
109.9
107.0
112.5
104.2
114.7
92.1
49.8
110.7
106.9
113.0
104.0
114.6
92.1
47.5
110.9
106.9
113.2
104.0
114. 3
92.1
48.9
111.0
107.0
113.0
103.9
113.9
92.0
51.0
111.0
106.5
112.8
103.5
112.7
91.9
53.1
111.1
106.3
112.9
103.3
112.3
91.3
52.8
113.0
106.1
113.1
103.6
112.8
91.5
53.5
112.9
106 2
113.1
103.6
113.1
91.4
52.7
112.7
105.9
113.4
104.2
113.9
91.6
59.0
112.8
106. 0
107.4
108.7
99.1
305.7
110.6
106.3
104.9
99.1
106.6
109.5
106.0
104.9
98.0
104.2
109.9
105.9
105.3
98.5
102.0
109.6
106.0
106.0
99.1
101.4
109.4
105.8
106.5
100.7
100.4
108.3
106.2
107.6
101.3
100.3
108.5
106.6
113.3
98.5
100.4
108.5
106.7
113.6
98.0
104.9
108.1
107.2
116.1
98.5
104.9
107.9
107.8
116.3
99.6
108.0
107.9
108. 1
115.9
100. 7
109. 5
107.9
108.5
114.8
100.7
109.5
109.0
111.9
107.4
113.4
on 7
112.1
107.8
113.4
111.7
107.3
113.1
111.6
106.8
112.7
111.6
106.8
112.6
111.5
106.8
112.5
112.0
107.3
112.6
93. 7
112.0
107.2
112.6
112.1
107.2
112.8
93. 8 /I
112.3
107.5
113. 0
95.0
74.9
112.7
107.4
113.2
95.0
74.5
112. 9
107.4
113.
4
r
95. 5
r
75.6
113.1
107 8
113.7
95.5
75.6
do
RETAIL PRICES
Medical care
Personal care
Reading and recreation
Transportation
Other goods and services
__
do.
do _
do
do. _
do
WHOLESALE PRICE Srf1
Commodities other than farm products and
foods
1947-49=100
Chemicals and allied products
do__
Chemicals, industrial
do
Drugs, Pharmaceuticals, cosmetics. _ -do
Fats and oils, inedible
do
Fertilizer materials
do _
Paint and paint materials
do
Fuel, power, and lighting materials
do
Coal
_ _
do__
Electricity
- do.
Gas __
_
__.do
Petroleum and products
.
do
Furniture and other household durables
1947-49 = 100..
Appliances household
do
Furniture, householddo.
Radios
...
do
L
Television sets
do
o
r
r
r
r
r
r
Hides, skins, and leather products
Footwear
Hides and skins
_ __
Leather
do
do
__do
do
98.0
115.9
59.6
87.6
94.1
113.9
49.7
84.4
94.7
111.1
58.1
84.5
95.9
111.0
59.5
88.9
96.2
110.6
61.8
89.3
96.5
110.6
64.4
89.3
96.5
110 6
64.4
89 3
96.6
110.6
65.0
89.9
97.6
111.0
69.2
90 1
99.0
112 0
70.6
92 9
97.3
112.0
62.1
92 0
98.0
112. 1
66.5
91.9
98.1
112. 1
65.2
93 5
Lumber and wood products
Lumber
do
__do__
120.5
120.7
120.9
121.3
120.7
121.1
119.9
120.1
120.2
120.4
120.5
• 120. 6
120.4
120.6
120.2
120.2
119.7
120.0
119 7
119.8
120 5
120.1
121. 1
120.3
121 7
120.9
121.4
121.6
121.4
121.8
121.6
121.3
121.4
121.5
121.3
121.4
121.5
Machinery and motive products
do
121.6
12L7
121.5
121.8
121.6
121.5
121.5
121.5
121.8
121.6
121.5
121.7
121.8
121.5
Agricultural machinery and equip
do
122 0
125.3
125.4
125.4
124.9
124.9
125.3
126.2
126.2
125.8
Construction machinery and equip —do
126.3
126.3
125.8
126.9
120.9
120.8
121.5
120.0
119.9
119.5
119.8
119.6
119.0
Electrical machinery and equipment-_do
119.7
119.6
119.7
119.7
120.0
119.7
119.7
119.7
119.7
119.7
119.8
119.9
119.7
119.7
119.7
Motor vehicles
do
120.0
119.7
'Revised.
1 Index on base previously used (1935-39=100) is 189.9.
§April 1953 indexes: All farm products, 259; crops, 247; food grains, 244; feed grains and hay, 206; tobacco, 424; cotton, 266; fruit, 226; truck crops, 204; oil-bearing crops, 289; livestock
and products, 270; meat animals, 299; dairy products, 264; poultry and eggs, 218.
9 Ratio of prices received to prices paid (including interest, taxes, and wage rates).
cfFor actual wholesale prices of individual commodities, see respective commodities.
tRevised series. Consumer price indexes through 1952 reflect shift in base period and changes in classifications; data beginning 1953 represent the completely revised or "new index", incorporating revised weights, expanded sample of items, and revised sample of cities; revised data for 1913-51 appear on p. 23 of the April 1953 SURVEY. Revised wholesale price indexes reflect
use of new base period, expansion of commodity coverage, and changes in the classification system, weights, and calculation method; for monthly data (1947-51), see pp. 22-24 of the March 1952
SURVEY; for monthly data (1926-46) for "all commodities" and "all commodities, except farm products and goods", see p. 24 of the June 1952 issue.
SUEVEY OF CURKENT BUSINESS
S-6
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
May 195'
1952
March
April
May
June
July
1953
August
September
October
November
December
January
February
March
COMMODITY PRICES—Continued
WHOLESALE PRICEScT—Continued
U. S. Department of Labor indexes (revised):!— Con.
Commodities other than farm prod., etc.— Con.
Metals and metal products
1947-49=100-Heating equipment
do
Iron and steel
do
Nonferrous metals
do
Nonmetallic minerals structural
do
Clay products
do
Concrete products
do
Gypsum products
do
Pulp paper, and allied products
Paper
Rubber and products
Tires and tubes
Textile products and apparel
Apparel
Cotton products
Silk products
Synthetic textiles
Wool products
do
do ...
do
do
do
do
do
do. __
do
do
Tobacco mfrs. and bottled beverages A- ..do
Beverages, alcoholicA
do
Cigarettes A
do
i
I
122.6
114.0
123.2
124.9
112.9
121.4
112.4
117.7
122.5
113.9
123.0
124.8
112.8
121.3
112.4
117.7
121. 8
113.7
122.8
122.0
112.9
121.4
112.4
117.7
121.1
113. 5
122.4
120.0
113.8
121.4
112.4
117.7
121.9
113.6
122.3
124.0
113.8
121.3
112.4
117.7
124. 1
113.7
127.2
124.4
113 8
121.3
112.4
117.7
124.6
113.7
127. 5
124.7
113 8
121.3
112.7
117 7
124.1
113 7
127.3
122 9
114 4
124 0
112.7
117 7
123. 9
113 6
127 0
122 5
114 5
124 0
112 7
117 7
124.0
113 6
127.0
122 3
114 6
124 0
112.7
117 7
124.0
113 8
127.
1
192 5
114 6
124 0
112.8
117 7
' 124.6
113 9
r
127 5
124 4
114 6
124 0
112.8
117 7
125. 5
113 9
127 7
131 5
114 9
124 1
112 8
118 3
117.7
123.8
142.0
133.4
100.6
101.6
99.6
129. 1
87.3
111.8
117.4
123.5
140. 6
133.0
99.9
101.2
98.6
128.4
86.7
109.2
116.9
123.5
140.4
133.0
99.3
100.8
97.2
128.8
86.8
111.7
116.7
124.2
133. 4
130. 5
99.0
100. 3
95.4
129.8
88.6
112.8
115.3
123.8
130.0
129.6
98.9
99.5
96.1
134.7
89.2
113.9
115.6
124. 0
127.8
126.3
99.1
99. 1
97.6
139.3
90.5
113.3
115.6
124.0
126.3
126 3
99.5
99 3
98.9
139.3
89.9
112.4
115. 5
124. 9
126.0
126 3
99 2
98 4
99 2
140.0
89 5
113.2
115 5
124.9
126.4
126 3
98.6
98 3
98.4
139. 3
89.0
112.6
115 9
124.9
127.7
126 3
98.2
98 3
97.7
139.7
87.8
112.6
115 8
124.9
127. 3
126 3
98.8
100 0
97.0
141.4
88.1
113.0
T
115 3
124. 9
126. 2
126 3
98.5
99 9
' 96. 1
141.4
88.3
' 111.5
115 2
124 9
125. 7
126 3
97 6
99 6
93 1
141.4
87 9
112 0
' 112.0
' 106. 4
r 112.0
' 112.0
*r 106. 4
112.0
r 112. 0
r
112.0
r
106.4
r
112. 1
r 112.1
' 112. 1
105. 2
' 105. 2
r 111. 0
r 105. 3
»• 112.0
>•r 112. 1
105. 3
T
112.0
112.2
110.7
112.0
'111.9
' 110.1
112.0
114.8
110 0
124.0
89.3
88.5
87.7
89.5
88.4
87.4
90.2
87.4
87.4
86.9
91.1
87.5
87.8
90.9
87.7
88.3
91.1
88.1
89.6
1
87.9
!87.9
1
' 106. 4
' 112.0
112.0
r
112.0
r 105. 5
r 112.0
112.0
105. 2
' 112.0
T
r
r
' 112.0
PURCHASING POWER OF THE DOLLAR
As measured by—
Wholesale pricesf
prlcesf
Consumer prices!
Retail food prices t
1947-49=100-.
do
do
88.9
88.9
88.6
89.8
88.1
89 3
89.3
87.5 !
85.9 !
89.0 !
87.4 j
85 7
85.7
89.3
89.
3
87.5
86.6
86 6 '
89.9
87.5 !
86 9
86.9
190.7
189.4
89 4
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY?
New construction, total
mil. of dol
Private, total
..
_ do _.
Residential (nonfarm)
do
New dwelling units
do
Additions and alterations
do
Nonresidential building, except farm and public
utility, total- ._
mil.ofdoL.
Industrial
. .
do
Commercial
do
Farm construction __
.. .. _ _ - d o
Public utility
do
Public, total _
_
- ... _do
Residential
do
Nonresidential building. - - - . do
Military and naval
do
Highway
do .
Conservation and development
do
Other types.
_. _
_ . _
.. do
2, 332
2, 516
2, 743
2, 945
3,027
3, 095
3,098
3,011
2,787
2,513
2, 320
2,225
2,448
1,617
799
710
77
1,690
849
750
87
1,811
922
810
99
1,925
983
865
103
1,994
1,023
905
101
2,037
1,047
930
99
2,030
1,049
935
96
1,988
1,048
935
95
1,924
1,033
925
90
1,789
953
865
70
1,628
817
735
64
1,578
761
675
67
1, 716
840
750
71
398
202
74
123
292
386
194
73
136
313
392
188
82
157
333
404
182
92
171
359
411
180
97
180
371
418
181
98
183
381
430
187
101
168
376
434
189
104
139
360
435
190
109
117
331
421
187
107
103
304
425
195
109
103
275
425
195
112
110
274
430
198
114
122
316
715
55
311
100
115
65
69
826
54
343
109
175
68
77
932
54
356
116
250
72
84
1,020
54
375
119
310
76
86
1,033
53
375
121
320
76
88
1,058
55
373
129
335
75
91
1,068
53
369
127
350
79
90
1,023
52
352
125
330
77
87
863
49
332
117
215
70
80
724
47
314
107
120
62
74
692
46
309
105
105
56
71
647
44
295
95
95
51
67
732
46
325
107
120
58
76
CONTRACT AWARDS
Construction contracts awarded in 37 States (F. W.
Dodge Corp.):
50, 097
63, 709
45, 041
50, 845
52, 078
52, 909
47, 006
Total projects
- number. _
Total valuation
thous. of dol 1, 321, 254 1,597,517 1, 563, 660 1,488,850 1, 511, 285 1, 438, 725 2,039,203
557,803
554, 050
636, 357
559,140
618, 737
501, 258 1, 269, 355
Public ownership
do
961,160 1, 005, 857
767, 204
929,710
892, 548
937, 467
779, 848
Private ownership
_._ ..
_ _do- .
Nonresidential buildings:
Projects
_
Floor area
Valuation
Residential buildings:
Projects
Floor
Valuation
Public works:
Projects
_- -Valuation.
Utilities:
Projects
_
Valuation
4,311
33, 345
463, 276
4,449
39, 343
562, 256
5,088
37,346
462, 863
5, 022
41,725
551, 500
5, 468
40, 979
562, 686
5, 196
38, 912
519, 940
4,289
29, 257
1,272,367
5, 161
38, 822
470. 520
4,382
39, 788
461, 476
3, 589
51, 596
713, 100
3. 651
32, 343
406, 914
3,529
31,115
374, 321
4, 760
35, 566
449, 175
38, 860
number
65, 422
thous. of sq. ft
592,717
thous. of dol. .
43, 447
73, 847
681, 614
55, 759
82, 579
753,755
43,012
62, 176
581, 792
43, 465
64. 003
608, 078
44, 943
65, 863
627, 596
40, 440
56, 743
518,471
43, 312
65, 489
602, 313
35, 487
55, 872
528, 429
29, 808
48, 996
438, 580
30, 674
51,315
460, 036
29, 960
46, 658
418, 568
44,115
65. 393
605, 200
number
thous. of dol_.
1,429
193,714
1,814
241, 740
2, 353
219, 628
2, 266
245, 969
2, 680
243, 458
2,310
208, 887
1,838
176, 652
1, 665
152, 455
1,336
195, 265
911
134, 114
835
152, 793
778
135, 326
1,247
219, 157
number
thous. of dol. .
441
71, 547
387
111,907
509
127,414
545
109, 589
465
97, 063
460
82, 302
439
71,713
404
85, 670
364
63, 633
353
181, 590
315
56, 125
294
93, 095
362
73, 986
166
183
164
174
196
222
171
189
203
221
168
186
200
213
172
193
194
199
177
196
218
192
207
193
209
192
207
191
201
181
210
185
177
196
178
166
156
205
183
156
144
190
173
151
163
173
r
182
168
183
166
174
1, 042, 851 1, 180, 340 1, 433, 642 1, 140, 654 2, 310, 504 2, 210, 572
952, 218
1,446,381 1, 079, 879
906, 976
number
thous. of sq. ft._
thous. of dol .
-
Value of contract awards (F. R. indexes) :f
Total unadjusted
1947-49—100
Residential, unadjusted
do
Total, adjusted
do
Residential adjusted
do
Engineering construction:
Contract awards (ENR)§
34. 561
34, 661
35, 475
41, 569
50, 4S4
50, 542
1,310,958 1,248,803 1,467,384 1.075,868 1,021,310 1, 347, 518
350, 709
477, 693
449, 779
490. 650
416, 577
410. 433
670, 601
989, 691
626, 089
758, 153
930, 941
890, 525
thous of dol
r
, 886, 520 1, 023, 021 1, 200, 048
Highway concrete pavement contract awards:©
4,874
6,702
5,411
3,509
2 4, 675
7,047
6,587
5,386
2,571
6,081
5, 537
7,006
5,258
Total
thous. of sq. yd..
729
791
495
1,226
238
427
446
390
843
1,691
1,512
1,070
1, 652
Airports
do
2,622
1,481
3,401
2,657
2,901
3,289
1,193 i 23 2, 775
2,652
1, 051
3,128
3, 215
1,486
Roads
do
2,783
3,201
1,533
1,026
1, 454
2,359
2,803
1,695
2,248
988
2,795
2,259
2.140
Streets and alleys
do
r
1
3
Revised.
Indexes on base formerly used (1935-39=100) are as follows: Measured by—wholesale prices, 47.5; consumer prices, 52.7; retail food, 44.3.
Data include some contracts
awarded in prior months but not reported.
o"'For actual wholesale prices of individual commodities, sec respective commodities.
JSee note marked "t" on p. S-5.
ARevised to reflect change in method of calculating excise taxes and discounts; comparable data prior to March 1952 will be shown later.
fRevised series. Purchasing-power data are based on revised price indexes shown on p. S-5. Indexes of contract awards reflect use of new base period. Revisions prior to 1952 for
purchasing power and prior to 1951 for contract awards will be shown later.
9 Revisions for 1947-50 appear on p. 20 of the March 1953 SURVEY. Revisions for January-March 1951 (except for grand total, total public, and military and naval, which have been
further revised and will be shown later) appear at bottom of p. S-4 of the June 1952 SURVEY.
§Data for May, July, and October 1952 and January 1953 are for 5 weeks; other months, 4 weeks.
GData for May, July,October, and December 1952 are for 5 weeks; other months, 4 weeks.
SUKVEY OF CUKEENT BUSINESS
S-7
1952
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
March
April
May
June
July
1953
August
September
October
November
December
January
February
March
CONSTRUCTION AND REAL ESTATE— Continued
NEW DWELLING UNITS AND URBAN
BUILDING
New permanent nonfarm dwelling units started
(U. S. Department of Labor)
number.. 103, 900
Urban building authorized (U. S. Dept. of Labor):
New urban dwelling units, total
number. . 58,016
49, 924
Privately financed total
do
40, 202
Units in 1-family structures __
do
3,471
Units in 2-family structures
do_
6,251
Units in multifamily structures
do
8,092
Publicly financed total
do-Indexes of urban building authorized :f
130.1
Number of new dwelling units 1947-49 =100. _
140.7
Valuation of building total
do
166. 1
New residential building
do
Addition^ alterations and repairs
do
110.3
115.1
1
106, 200
109, 600
103. 500
102, 600
99, 100
100, 800
101, 100
86, 100
71, 500
71, 000
77,000
64, 921
56, 295
45, 968
3,562
6,765
8,626
61, 478
53, 414
43, 670
3,548
6,196
8,064
55, 134
48, 909
41, 107
3, 080
4,722
6, 225
52, 178
50, 636
41, 842
2,938
5,856
1,542
50, 182
48, 764
39, 097
3,298
6,369
1,418
54, 393
52, 889
42, 761
3,588
6,540
1,504
54, 409
52, 785
42, 655
3,055
7,075
1,624
41, 952
38, 206
30, 780
2,499
4,927
3,746
37, 508
33, 902
26, 356
2,585
4,961
3,606
37,717
34, 756
26, 783
2,347
5, 626
2,961
' 43, 298
'r 39, 477
31, 002
2,799
5,676
3,821
142.5
152.3
183.8
115.6
118.6
129.5
147.0
171,2
113.5
133.2
121.8
157.0
161. 7
152.7
149.4
116.0
145. 6
150.9
139.9
138.7
108.2
133.8
139.4
128.6
124.6
117.1
143.0
155.2
127.8
132.9
119.9
147.8
161.2
132.9
131.9
88.9
114.3
117.9
114.6
100.0
83.1
108.9
106.6
119.6
92.8
85.0
106.6
107.4
108.5
99.6
93.4
117.2
121.8
114.4
106.4
119.5
119.7
120.8
383
121.8
122.4
122.7
383
122.6
122.5
122.5
383
122.8
122.6
123.0
383
97, 000
63, 681
55, 935
44, 598
3,324
8,013
7, 746
CONSTRUCTION COST INDEXES
Department of Commerce composite 1-1947-49=100. _
Aberthaw (industrial building)
1914=100
American Appraisal Co.:
Average 30 cities
-1913=100
Atlanta
do
New York
- do San Francisco
do
St Louis
do
Associated General Contractors (all types) _-do
E. H. Boeckh and Associates:!
Average, 20 cities:
Apartments, hotels, and office buildings:
Brick and concrete.-!!. S. avg. 1926-29=100-Brick and steel
do
Brick and wood
-- do - Commercial and factory buildings:
Brick and concrete
- - --do __
Brick and steel
do
Brick and wood
-- do
Frame
do.- _
Steel
do _
Residences:
Brick
do__
Frame
do
Engineering News-Record :fcf
Building
1947-49=100-Construction
do
Bu. of Public Roads— Highway construction: A
Composite standard mile
1946—100
118.6
374
544
582
551
498
537
378
545
582
552
499
541
379
548
584
554
504
543
381
550
588
554
504
544
382
555
600
554
513
549
391
558
602
555
513
549
393
561
604
556
514
551
394
562
604
557
521
551
397
564
604
572
521
551
398
567
604
573
522
558
399
568
611
574
522
560
398
567
611
574
523
559
398
£69
614
579
525
561
399
237.2
237.7
248.0
238.3
238.5
248.9
239.4
239.2
249.5
242.1
241.3
251.9
243.5
242.9
252.7
245.3
244.5
253.8
246.0
245.2
254.4
246.4
245.5
254.2
246.4
245.3
253.4
246.3
245. 1
253.3
246.6
245.6
254.1
246.5
245. 3
253.9
247. 3
245.9
254.3
239.7
238.3
244.0
251.5
222.7
241.0
239.3
245.1
252.1
223.3
242.2
240.7
245.8
252. 8
226.1
245.3
243.4
247.8
255. 8
226. 4
246. 8
245.7
248.8
256.4
229.5
248.6
247.5
249.8
257.0
231.2
249.4
248.5
250.5
257.3
232.2
249.8
248.2
250.5
256.8
232.4
249.7
248.0
250. 0
255.8
232.3
249.8
248.5
249.9
255. 5
232.3
251.0
248.9
250. 6
256. 6
232.6
251.1
248.9
250.4
256. 4
232. 5
252. 6
249.2
250. 8
256. 6
233. 1
248.5
246.2
249.4
246.9
250. 0
247.4
252.5
249,8
253. 3
250. 4
254. 2
251. 1
254. 8
251.5
254. 6
251. 2
253.8
250.3
253. 7
250. 1
254. 4
250. 9
254. 3
250.8
254. 8
251. 2
120. 6
122.3
121.3
123.0
122.0
124.0
122.6
12' 5.0
124.9
128.9
125. 6
129.5
125.6
129.9
126.0
129. 9
125.7
129.7
125.7
129.6
125.8
129.6
125. 7
129.7
126. 1
130. 1
r
r 134. 0
r
136. 2
137. 5
T
138 6
r
r
149. 0
168. 6
139.4
CONSTRUCTION MATERIALS
Production of selected construction materials, index:?
Unadjusted
1939 = 100..
Adjusted
_
_ _ _ _ _ _ _ -do_ .
149.4
158.1
156.2
157.1
156.9
148.3
149.2
139.4
149.7
140.7
173.6
153.4
177.6
165.2
'185.2
r
r 167. 1
' 157. 5
126,546
235, 651
129, 352
244, 042
139, 008
202, 758
143. 154
195, 987
164, 982
189, 189
162, 167
202, 746
184, 356
217,292
211,042
220, 008
183, 801
243, 087
156. 1
r
r
145.1
169. 9
•p 142 1
p 172. 2
211,027
243, 300
189, 690
247, 529
193, 370
227,910
611
REAL ESTATE
Home mortgages insured or guaranteed by —
Fed. Hous. Adm.: Face amount 9
thous. of dol.
Vet. Adm.: Face amount
do
Federal Home Loan Banks, outstanding advances
to member institutions
mil. of dol
New mortgage loans of all savings and loan associations, estimated totaL _ __ -.thous, of dol .
By purpose of loan:
Home construction
do
Home purchase
._ _ _ _
.-.do. .
Refinancing
do
Repairs and reconditioning
_
do.-.
Al I other purposes .. _
do
New nonfarm mortgages recorded ($20,000 and
under), estimated total
thous. of dol
Nonfarm foreclosures, adjusted index. 1935-39=100-Fire losses
_ _
.
... thous. of dol .
206, 739
226, 936
589
581
591
653
656
687
715
752
791
864
683
627
514, 098
549, 140
586, 035
586, 842
595, 994
617, 431
61 6, 352
658, 787
522, 681
541, 295
497, 314
523, 210
171, 907
213, 723
49, 104
18, 959
60, 405
182, 636
238, 587
49, 446
21, 797
56, 674
197, 525
251, 884
50, 076
24, 452
62, 098
191,812
257, 069
49, 595
24, 238
64, 128
190, 039
264, 692
53,014
25, 065
63, 184
199, 720
279, 192
50, 850
24. 625
63, 044
192,667
?85, 337
50, 457
26, 097
61, 794
207, 589
303, 107
54, 597
25. 997
67, 497
163, 074
243, 112
42, 379
20, 148
53, 968
161,405
248, 448
49, 739
19, 730
61,973
147,444
222, 232
49, Oil
18, 408
60, 219
164, 177
222, 353
52, 694
20. 253
63, 733
1, 393, 317 1, 482, 161 1,511,488 1, 512, 734 1, 590, 319 1, 597, 783 1, 587, 523 1, 727. 343
11.7
11.3
11.1
12.1
11.7
12.4
11. 1
11.6
72, 254
67, 380
62, 354
58, 585
61, 675
56, 462
58, 949
63, 958
1,492,390 1, 553, 457 1,400,615 1,391,203
10.6
11.8
65, 129
74, 127
76, 659
72, 706
83,471
DOMESTIC TRADE
ADVERTISING
Printers' Ink advertising index, adjusted:
433
Combined index
1935-39=100
438
439
436
445
456
456
475
Business papers. _ _ _ _ _ _ _
_ _ do.
' 512
514
515
520
554
548
547
529
49Q
Magazines.- ___ _ _
do
371
404
388
362
403
369
387
Newspapers
do
294
300
329
310
327
310
318
340
Outdoor. _
_
do
362
362
354
372
359
344
383
378
9
opo
r 247
Radio do
247
236
241
226
254
64
Tide advertising index, unadjustedf.. 1947-49= 100. _
153.2
141.3
154. 1
114.2
140.8
111.2
141.9
165. 4
Radio advertising:
Cost of facilities, total _
thous. of dol
14, 520
13, 948
13 970
I 9 97b>
11 254
12 890
10 974
15 44?
Automotive, incl. accessories. ... . _ .do. _
329
319
370
345
196
256
323
396
Drugs and toiletries .
do
3,949
3,847
3 885
3 612
2 658
3 003
3 954
4 987
153
Electric household equipment
do
204
171
251
1 004
349
337
464
Financial __
do
348
356
365
343
338
367
331
308
Foods, soft drinks, confectionery
do
2 971
3,862
3,802
3,734
3 233
2 604
3 319
3 6S3
Gasoline and oil - do
493
431
424
452
381
434
455
376
Soap, cleansers, etc
do
1 558
1 624
1 698
1 660
1 079
1 257
1 623
1 704
Smoking materials.do
1,632
1,596
1 546
1 416
700
776
1 042
1 292
All others
do
2 145
9 Q^n
1 801
1 795
1 659
2 296
2 9Ofi
1 559
r
Revised. ^ *> Preliminary.
A Revised to new base and to reflect other adjustments; data prior to March 1952 will be shown later.
work television; figures back to 1940 will be available later.
473
570
408
330
371
488
539
394
566
491
qoq
oco
op r
157.6
127.3
119.6
14 478
640
3 787
474
14 995
529
4 278
-1 9 1 9
OCR
323
3 789
3 424
366
1 4.89
-oo
1 277
1 322
9 74.4
ogo
000
134. 4
164. 9
007
520
90 .
91 ^
0
C |Q
01-77
1, 890
§ Copyrighted data; seeYast'paragraph'ofheadnote, p7s-lT tfData reported at the beginning of each month are shown here
9 Revised to include additional data; figures prior to February 1952 are available upon request.
for theforprevious
month.
{Revisions for January-November 1951 will be shown later.
Digitized
FRASER
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
May 1953
1953
1952
March
April
May
June
July
September
Augi
October
November
December
January February March
DOMESTIC TRADE—Continued
ADVERTISING— Continued
Magazine advertising:!
Cost, total
thous. of dol-_
Apparel and accessories
do
Automotive, incl. accessories
do
Building materials
do
Drugs and toiletries
do
Foods, soft drinks, confectionery
do
Beer, wine, liquors
do
60, 255
'5,411
' 5, 068
'3,072
r
7, 086
'7,875
'2,844
59, 648
5, 029
4,999
3,683
6, 469
7,150
2,477
60,016
4,735
5,237
3,296
6,166
6,742
2,619
51,515
3,119
4,925
2,842
7, 051
7, 660
2,331
35, 240
862
3,702
1,388
5,816
5,695
1,977
4,401
3,644
3, 872
1,466
1, 259
15, 199
5,004
3, 867
4,016
1, 376
1,395
15, 564
3,407
1,788
3,572
do _ _
'3,967
2, 726
'3, 757
'1,356
r
1,370
'15,724
1, 566
12,311
1,198
8,989
thous. of lines. -
4,855
4,468
4,093
3,213
do
do _ _
do
do
do
do __
do_ _ _
213, 228
52, 943
160, 285
8, 553
2,756
30, 203
118, 773
218, 407
52, 790
165,617
9, 565
3,133
31,742
121,177
225, 606
56, 670
168, 936
10. 457
2,684
33, 444
122, 352
thousands
thous. of dol__
8,025
147, 902
7,255
132, 616
6,719
123, 981
Household equipment and supplies
do
Household furnishings
do
Industrial materials _ _ _ _ _ _ _ _ _ _ _ d o
Soaps cleansers, etc
do _
All other
Linage, total
r
Newspaper advertising:
Linage total (52 cities)
Classified
Display total
Automotive
Financial
General
Retail
T
38, 442
3,588
3,671
1,549
5, 456
5,472
1,672
56, 978
6,469
4,366
3, 127
6 653
6,883
2,388
63, 494
5,250
4,775
3,139
7 556
9,047
2,924
63, 849
4 296
5,102
2 363
7 657
8 753
3 250
48, 083
3,802
2, 507
942
5 502
6,957
4,261
35, 018
1, 563
4,033
1,343
4 461
5, 173
1,480
50, 682
3 271
4,744
2 099
6 068
8 758
2,314
65, 645
5 884
6, 199
3 343
7 018
9 653
2 606
1, 646
1,375
2,861
4, 590
4 015
3,981
1,509
1 480
15,228
4 171
3 290
4, 175
1,429
1 597
17, 838
3,209
1,744
3,118
1, 398
9,648
3,688
2 747
3,774
1 266
1 437
14, 182
1,013
2,643
1, 669
13, 555
1, 112
10, 434
2, 115
1 555
3, 025
1 272
1 38S
14, 074
4 675
2 551
3,618
1,699
1 444
16, 954
3,133
3,960
4,798
4,898
4, 299
3,162
3,667
4, 251
4, 991
209, 251
52, 744
156, 506
10. 288
2, 762
31, 251
112, 204
175,447
47, 979
127, 468
7,351
3,046
25, 674
91, 398
186, 555
52, 741
133, 814
7,781
1,894
22, 061
102, 077
214, 509
54, 124
160, 385
7 367
2,596
29,711
120, 709
245. 004
56, 593
188, 410
10 383
2, 518
39, 411
136, 098
234 873
52, 399
182 474
10 734
2 400
34, 359
134, 981
219, 798
45, 563
174, 235
8,847
2,550
24, 506
138, 332
182, 718
50. 052
132, 666
9, V>\
3,808
21.433
98, 304
186,115
49, 479
136. 636
8,720
2,377
26, 537
99, 001
231 721
58, 456
173 264
10 877
3 017
33, 812
125, 559
6,511
122, 134
6,242
119, 289
6,174
119, 935
6,711
127, 034
6, 764
125, 622
6 275
114, 728
7,299
131, 677
6,672
121, 828
6,423
120, 178
7,928
150, 315
941
579
745
979
774
818
938
2,639
830
POSTAL BUSINESS
Money orders issued (50 cities) :
Domestic:
Number
Value
PERSONAL CONSUMPTION
EXPENDITURES
Seasonally adjusted quarterly totals at annual rates:!
Durable goods total
F
'tnrp and household prminment
Oth rl
hi
rl
Nondurable goods total
Fn rl Tifi alpnVinlip beverage';
P
1'
rl '1
Semidurable housefurnishings
Tobacco
Other nondurable goods
JT
; V-T
7.
T?
O±Y\
215 0
222.0
226 2
do
do
fin
11.3
26.4
11.3
10.8
4.3
27.3
11.2
11.7
4.3
24.2
88
11 2
4 3
29.8
13 3
12 0
do
118.0
20.6
71.8
117.8
20.0
72.3
121.4
21.9
73.5
121.7
21 4
74 1
6 5
12.5
12.4
118.9
20 3
73 2
6 1
2. 1
5 1
12.1
70.0
10 7
22.9
70.8
10.9
23.2
71.9
10 9
23.5
73.3
11.2
24.0
74.6
11 4
24.5
4 4
4 3
23.6
23 9
do
rln
do
do
do
do
tinn
r
214.9
25.2
j
Housing
rp
"
213 2
4- 4."
"
a. VI'PP<;
9.6
do
4.2
4.1
5.9
do
22.3
/1n
6.0
2.0
5.1
5.9
2.0
5.2
4.2
4.1
5.8
4.5
6.3
2.0
5.2
2.0
5 2
12.5
12.5
4.3
4.2
6.0
4.3
4 3
5.9
22.5
4.5
22.9
6.2
RETAIL TRADE
All retail stores :f
Estimated sales (unadjusted), total._-mil. of dol-J3 Arable-goods stores
do
Automotive group
do
Motor-vehicle, other automotive dealers
mil. of doLTire, battery, accessory dealers
do
Furniture and appliance group
do
Furniture, homefurnishings stores __do _.
Household-appliance, radio stores
do
Jewelry stores
do
Lumber, building, hardware group
do
Lumber, building-materials dealers. -do
Hardware stores
do
12, 736
4,139
2,180
13, 396
4,573
2,372
14, 350
5, 224
2,826
13, 814
5,122
2,757
13, 396
4,627
2,374
13, 448
4,410
2,103
13, 620
4,670
2,353
14, 819
5,116
2,681
14, 008
4,514
2,319
16,910
5,214
2,378
13, 054
4,450
2,546
' 12, 329
' 4, 357
' 2, 501
13, 920
4, 935
2,788
2,048
132
629
2,219
154
647
2,647
179
738
2,582
175
740
2,200
174
713
1,929
174
754
2,179
174
756
2,509
172
834
2,166
153
823
2,175
203
1,039
2,411
136
676
' 2, 377
124
'656
'355
'301
2,647
141
712
403
309
93
783
578
206
373
256
82
392
255
90
456
282
117
742
552
190
869
640
229
941
697
244
Nondurable-goods stores
_do
Apparel group
do
Men's and boys' wear stores
_do___
Women's apparel, accessory stores _ _ .do
Family and other apparel stores
do
Shoe stores
do
Drug and proprietary stores
do
Eating and drinking places .
do
8,596
8,823
9,126
Food group
do
Grocery stores
do
Gasoline service stations
do
General-merchandise group
do
Department stores, excl. mail-order _ _ do
Mail-order (catalog sales)
__do
Variety stores
do
Other general-merchandise stores
do
Liauor stores.
do
779
165
336
152
910
186
380
180
154
386
905
689
216
924
700
224
8,692
8,769
9,038
8,950
832
198
308
178
700
161
274
142
1,064
1,130
3,248
2,601
781
1,467
815
99
3,419
2,792
834
1,531
871
94
3,228
2,644
847
1,444
808
98
309
241
325
266
314
235
286
240
244
240
445
311
100
923
709
214
1,059
3,253
2,627
762
1,324
730
94
468
286
104
939
706
233
124
388
1,002
214
352
172
419
294
95
148
380
164
370
992
126
379
871
192
442
298
108
224
770
163
316
156
136
392
910
196
365
184
481
342
126
571
469
338
812
593
219
878
588
290
9,703
1,023
9,493
1,003
11, 696
1,533
411
221
384
216
560
353
495
339
123
961
728
233
240
259
427
194
513
165
374
1,149
151
401
1,114
1,122
1,044
1,109
3,397
2, 764
905
1,269
667
86
3,453
2,820
915
1,450
783
104
3,242
2,641
866
1,523
857
117
3,440
2,787
902
1,773
979
137
3,427
2,763
852
1,769
978
139
3,555
2,843
872
2,790
1,521
187
304
254
328
260
324
250
398
283
395
289
561
411
212
236
225
258
144
385
257
521
374
302
96
684
518
166
89
'660
'492
'167
8,604
740
187
286
156
111
392
1,008
' 7, 972
'616
'145
'254
' 126
'387
'940
1,026
3,395
2,756
779
1,239
673
88
186
293
229
' 3, 095
' 2, 526
'752
'1,171
'624
94
'193
'260
'230
3,281
2,678
837
1,474
807
115
226
326
245
'91
8, 985
862
183
358
182
138
392
lUnpublished revisions for magazine advertising are available upon request for the following periods: January, February, March, and October 1950; January, February, September, October,
November, and December 1951; January 1952. ^Revisions of personal consumption expenditures (1949-51) are shown on p. 20 of the November 1952 SURVEY.
tRevised series Beginning with the September 1952 SURVEY, retail sales data have been replaced by a new series based on new sampling procedures developed by the Bureau of the Census.
The new estimates'begin with January 1951; see pp. 16 ff. of the September 1952 SURVEY for figures covering the entire year 1951 for both the new and old series and for discussion of the new
data; January 1952 revisions for the adjusted series are available upon request.
SUEVEY OF CURRENT BUSINESS
Jlay
Unless otherwise stated, statistics through
1950 arid descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-9
1953
1952
March
May
April
June
August
July
September
October
November
December
January
14, 202
4, 844
2 644
2,490
154
14, 026
4,769
2 548
2,388
160
14, 410
4,871
2 617
2, 453
164
14, 140
5 000
2 738
2,572
167
••14,514
T
5 304
773
'811
'451
"•360
February
March
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
All retail stores — Continued
Estimated sales (adjusted), totalf
mil. of doL.
Durable-goods stores
•
do_ _ _
Automotive <~rroup
do
Motor-vehicle, other automotive dealers.do
Tire battery accessory dealers
do
Furniture arid appliance group
do
Furniture, homo furnishings stores
do
Household -appliance, radio stores
do
Jewelry stores
__ _ _ do
Lumber, building, hardware group
do
Lumber, building-materials dealers _ _ do
Hardware stores
do
Nondurable-goods stores
do
Apparel group
- - do_Men's and boys' wear stores
do
Women's apparel, accessory stores- _ -do
Family and other apparel stores
do
Shoe stores
do
Drug and proprietary stores
- - __do
Eating and drinking places
do
Food group
do
Grocer v stores
do
Gasoline service stations
do
General-merchandise group
do
Department stores, excl. mail-order...- do
Mail-order (catalog sales)
_ _ _ do _ _
Variety stores
do
Other general-merchandise stores
do
Liquor stores
-do _.
Estimated inventories:^
Unadjusted total
Durable-goods stores
Nondurable-goods stores
-
do
do
do
Adjusted total
do _
Durable-goods stores
do _ .
Automotive group
do
Furniture and appliance group __ _ do_
Jewelry stores
do
Lumber, building, hardware group.-do
Other durable-goods stores
do
Nondurable-good stores
Apparel group
- Drug and proprietary stores
Food group r
General-me chandise group
Other nondurable-goods stores
Firms with 11 or more stores:f
Estimated sales (unadjusted), total
Apparel group
Men's and boys' wear stores
Women's apparel, accessory stores
Shoe stores
Drug and proprietary stores
Eating and drinking places
Furniture, homefurnishings stores
do
do
do
do
do
_ _ do
do
do__
do
do
do
do
do
do
General-merchandise group
do
Department stores
do
Dry-goods, other g e n e r a l - m e r c h a n d i s e
stores
mil. of dol_
Variety stores
do
Grocery stores
do
Lumber, building-materials dealers _ _ do-_
Tire, battery, accessory stores
do
Estimated sales (adjusted), total
do
Apparel group
do
Men's and boys' wear stores
do
Women's apparel, accessory stores
do
Shoe stores
do _ _
Drug and proprietary stores
do __
Eating and drinking places
do
Furniture, homefurnishings stores. - _ _ _-do._ General-merchandise group
- __ _ do
Department stores
do
Dry-goods, other g e n e r a l - m e r c h a n d i s e
stores
mil. of dol
Variety stores
do__ _
Grocery stores
_ do
Lumber building-materials dealers
do
Tire, batterv. accessory stores
-do
!
13, 033
4,312
2,095
1, 934
161
715
423
292
13, 363
4,494
2,299
2, 143
156
686
412
274
13, 850
4,927
2, 666
2, 500
166
433
294
450
319
118
859
633
226
118
853
632
221
122
836
620
216
8, 721
828
195
330
172
131
389
1, 038
8, 869
860
190
355
180
135
388
1,040
8,923
1, 064
1, 060
1,070
1 067
1,048
1 063
1 051
1 091
1 087
r 138
r 412
r 1 075
3,201
2 586
798
1 463
808
100
239
316
248
3,271
2 636
810
1 483
805
106
245
327
264
3, 256
2 641
3,341
2 728
3,402
2 756
3 346
2 713
3,398
2 768
833
842
847
3 419
2 770
3 362
2 735
3 372
2 730
875
893
3 353
2 714
r 3 393
f 2 743
1 535
831
118
1 615
896
115
1 517
838
107
1 586
884
111
1 690
918
1239
21 228
10,030
11 198
21, 103
10, 128
10 975
20 542
9, (589
10 853
19, 825
9 229
10 596
20 321
9, 583
3, 106
1,709
488
2, 494
1,786
20, 477
20, Of 9
9,112
2 888
1,6(7
20 125
9,030
3 200
1,713
488
479
2,429
1,794
2,380
1, 698
1 0, 738
2, 436
770
2, 096
3,248
2,188
10, 853
2, 503
10, 957
2,583
9, f:24
782
727
853
198
336
182
137
386
806
1 546
859
109
253
3?5
270
14, 014
4,883
2,566
2, 403
163
436
310
449
298
416
311
449
305
468
322
451
325
443
330
118
872
647
225
121
869
660
209
122
859
642
217
122
831
614
217
130
832
618
214
121
841
622
219
123
847
631
216
127
846
629
218
9, 131
9,173
9, 160
9,065
9 358
9 257
9 539
' 987
9 140
881
210
359
208
350
183
144
390
821
1 593
882
116
1, 625
19 745
8,626
2 564
1,701
2,3P4
1,683
488
480
2,332
1,631
11,095
2, 636
11 378
2 714
494
361
194
358
177
149
399
854
1 638
903
115
146
398
232
891
210
389
206
342
193
160
411
20 895
9 384
3 212
1 643
20 804
9,352
3 272
1,639
2,233
1,669
499
490
2,273
1,608
2,229
1,710
2,281
1,749
2,208
1,743
2,299
1,778
11 119
2 700
11, 325
2,748
11 477
2 817
11 511
2 830
11 452
2,790
11 275
2 703
496
2,099
3,351
2,375
2 091
3 383
2 387
2 089
3 424
2,367
2,183
3 373
2,389
2 119
3 384
2 309
2,423
2 333
2 504
2,476
2 744
2 666
3, 457
'2 285
67
60
705
318
741
365
89
160
970
53
40
107
187
930
64
109
180
175
15
57
45
63
48
69
60
191
21
182
21
293
35
760
132
15
119
80
60
54
26
58
54
26
74
49
59
54
23
61
56
30
60
50
31
87
55
32
711
343
618
284
719
326
735
346
856
396
835
366
1, 335
539
556
248
105
170
908
73
91
163
113
183
999
76
100
180
930
78
131
201
135
203
205
414
83
142
1,015
1,020
1,056
64
53
1,039
49
75
59
r 2, 559
176
18
'953
72
56
57
49
r 2, 520
171
2,562
174
18
r 2, 545
169
19
72
55
16
76
53
81
53
«• 2, 622
180
19
727
345
119
189
145
210
1,013
1,003
98
181
995
63
60
115
194
960
67
56
101
193
984
66
47
119
204
985
68
52
102
199
120
204
1,009
1,009
115
188
937
65
49
110
190
936
66
52
62
50
16
817
345
729
328
99
180
919
68
46
2,506
167
735
323
757
326
745
344
62
52
64
53
64
52
r 1 g62
r 491
r 2, 449
' 1, 846
r 11 068
r2
r
r2
r3
r2
559
745
047
471
246
q 232
' 884
208
344
195
136
408
1 072
r
22
543
233
685
302
r
104
172
999
51
49
119
13
57
r
68
49
63
51
27
11 088
2 563
711
2 051
3 503
2 260
2 487
194
20
75
56
60
52
27
r 2 145
78
144
939
r 47
r 41
51
783
351
729
325
724
323
116
T 250
r 339
43
80
56
62
52
22
r 869
r 1 5(50
' 855
r 47
62
52
29
770
352
685
313
20
188
'47
r 3(5
72
50
61
54
24
62
52
28
' 2, 638
195
r
346
r
60
50
20
61
54
28
62
53
25
61
53
30
18
r 210
51
38
71
53
73
56
66
55
61
54
25
71
57
62
51
26
' 2, 555
175
' 883
21 227
10 139
3 536
1 673
493
2,547
1,890
20 652
9 175
3 093
1 643
143
11
r 229
r 9 211
135
910
669
241
r 20 973
r 9 905
r 3 457
20 281
8,956
2 875
1,693
132
12
134
'876
'648
20 814
9' 539
3 307
1*659
19 544
8 838
10 706
237
345
254
2,001
3 276
2,377
173
18
r
21 981
10 533
11 448
22 059
9 366
12 693
717
r 17(5
r 20 738
r 9 789
r 10' 949
21 564
9*125
12 439
801
2, 775
19 896
9 292
10 604
20 434
8,739
11 695
799
r
14,413
5 181
2 743
2.572
172
809
456
353
r 264
1 543
852
109
239
352
?56
500
r 2 951
3 357
2 752
874
1 601
875
118
248
360
266
850
260
360
279
486
26
387
275
146
414
2 080
3 358
2 436
604
269
67
52
897
216
2,110
3,271
2,318
59
52
26
68
53
930
226
776
752
73
57
17
790
765
60
53
31
' 2, 475
164
754
790
59
51
24
17
143
384
20 127
8 749
2 591
1 707
284
77
67
' 2, 446
170
345
170
19 279
8 314
10 965
2,586
' 2, 359
157
17
61
51
60
48
28
140
395
19 209
8 621
10 588
2,440
55
252
334
274
360
188
870
212
247
325
268
2,307
157
17
63
48
59
48
26
71
138
390
894
206
262
342
264
255
340
271
2,023
3,295
2, 279
47
746
916
205
2, 057
3, 296
2,215
1,023
13, 570
4, 505
2,292
2,124
168
727
760
176
18
13, 359
4,199
1,918
1,754
164
747
769
777
199
19
13, 667
4, 494
2,254
2,098
156
' 2,
570
r
168
' 18
••66
' 52
62
r
52
27
r
2,610
176
19
66
55
61
51
31
756
••359
789
364
101
r
187
1,000
'69
'61
115
201
1,004
66
57
'Revised.
fRevised series; see note marked "t" on p. S-8.
d"Data represent new estimates adjusted for comparability with the new series of retail sales. For the new estimates for December 1950 and the entire year 1951 and for revisions of the old
series (1949-51), see pp. 14 ff. of the November 1952 SURVEY.
SURVEY OF CURRENT BUSINESS
S-10
i
Unless otherwise stated, statistics through 1
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
19.13
19C>2
March
April
May
June
July
1953
August
September
October
November
December
January February
March
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
Department stores:
Accounts receivable, end of monthrf
Charge accounts
1947-49—100
Instalment accounts
do
Ratio of collections to accounts receivable:
Charge accounts
percent _
Instalment accounts
do
Sales by type of payment:
Cash sales
percent of total sales. _
Charge account sales
do
Instalment sales
do
Sales, unadjusted, total U. S.f
Atlanta
Boston
Chicago
Cleveland
Dallas
Kansas City
M inneapol is
New York
Philadelphia
Richmond
St Louis
San Francisco
117
178
121
175
122
176
120
178
107
177
108
180
118
190
128
201
138
211
183
231
147
226
126
224
123
227
48
20
46
18
48
19
46
18
46
17
46
17
47
18
50
18
48
17
48
17
47
17
44
15
49
17
48
42
10
48
43
9
47
43
10
47
43
10
48
41
11
48
41
11
46
43
11
46
43
11
47
42
11
49
42
9
47
42
11
47
42
11
46
43
11
1947-49=100.do
do
do_ _
do
do
do
do
do
do___
do
do__
do
92
110
87
89
95
105
93
80
'85
97
'98
89
90
103
118
103
99
104
114
104
101
94
103
110
101
103
108
122
102
104
105
125
112
105
95
108
115
106
113
105
117
103
103
105
116
106
96
95
102
114
103
108
84
96
73
82
82
104
93
84
69
76
87
81
96
98
115
83
97
99
114
110
103
76
86
100
98
112
112
126
111
110
110
128
115
108
100
110
121
110
115
119
132
111
116
119
134
120
124
110
120
128
121
117
133
145
127
129
139
145
132
120
123
143
142
126
136
195
221
193
186
194
215
196
175
175
195
214
179
207
85
97
84
82
87
101
86
74
78
82
84
79
91
'87
104
80
84
89
101
'91
80
79
85
'89
85
94
p 103
* 124
P 95
101
107
117
* 103
93
P 91
106
p 109
P99
P 102
do ._
do . _ _
do
_do_ .
do
do_ .
do
do
do
-do_
do
do ._
do
105
114
104
103
106
115
105
94
'97
109
99
'103
103
116
99
100
104
114
104
98
96
102
108
98
105
108
127
101
104
103
128
112
104
96
107
116
102
118
111
138
103
105
112
132
114
100
98
107
122
111
114
105
120
106
97
105
123
114
104
95
106
106
99
110
114
131
109
111
113
127
119
115
102
115
127
110
116
106
121
101
103
105
119
108
98
95
105
112
104
114
115
126
109
113
116
128
113
110
105
114
120
114
118
113
128
105
108
113
129
117
107
98
109
115
106
128
115
130
108
116
117
130
120
110
101
111
121
113
119
111
127
104
107
116
129
114
99
97
111
119
108
116
111
124
106
109
115
125
113
109
96
115
' 117
106
117
p 113
p 128
p 106
114
116
125
P 114
106
p 100
112
P 122
P 107
v 112
120
' 114
122
116
120
118
112
118
110
120
114
118
124
120
134
120
136
120
108
119
111
123
119
122
p 127
P 121
279, 095
79, 273
199, 822
332, 482
93, 423
239, 059
368, 073
354, 385
92, 345
262, 040
304,313
351,558
101,150
373, 794
418,732
118,142
391 569
108, 525
283, 045
546 465
155, 594
390, 870
268 261
62 778
205, 483
258 518
62* 171
196, 347
327 550
87 515
240 036
276.3
299.6
273.7
283. 9
253. 5
301.8
269. 8
327. 7
316.5
282. 3
364.1
308. 3
249. 5
215.6
270. 5
234. 6
313.6
336. 3
432. 6
441. 5
554.4
502. 9
253.7
277.7
254 3
308. 1
254 7
301 9
331 8
322. 5
316 3
349. 5
312 1
352. 3
355 8
354 1
318.4
404 1
388 3
334. 9
414 5
Sales adjusted, total U. S.f
Atlanta
Boston
Chicago
. -Cleveland
Dallas
Kansas City
Minneapolis
__
New York
Philadelphia
-Richmond
St Louis
San Francisco
Stocks, total U.S., end of month :f
Unadjusted
Adjusted
do.
do. __
Mail-order and store sales:
Total sales 2 companies
thous of dol
Montgomery Ward & Co
do
Sears, Roebuck & Co _
_
do
Rural sales of general merchandise:
Total U. S., unadjusted
1935-39=100..
East
do
South
_
_
do _.
Middle West
do
Far West
do
Total U S , adjusted
do
East
. . .
do
South
do
Middle West
..
do
Far West
do
' 111
271.1
306.1
257.9
301.4
319.7
280.2
344.5
101,381
266, 692
280.0
345.4
286.9
370.7
304.6
285.4
313.1
288.1
276.7
287.1
368. 4
304.5
365.7
8,187
2,771
5,416
8,116
8,240
2,728
5,410
5,512
9,761
340.1
354. 6
348.3
345. 5
311.1
397. 5
313.2
396. 5
82, 995
221,318
304.5
387.0
250, 409
102,462
271.262
300, 590
315. fi
344.5
378.3
330. 8
390.4
445.0
366.8
280.7
295.3
396.2
342.3
320.1
368.4
299 7
316 8
115.6
311 5
356. 9
289.0
410.8
316.3
310.3
294.4
312.2
348.2
478.2
393.7
500. 3
333. 8
310.5
286.3
371.8
335 1
314.8
351.2
316.3
389 0
330.8
314.1
384. 3
318.9
404.3
363 3
365.5
347.0
299.6
399.0
8,596
8,699
9,523
2,983
6,540
10, 389
9,481
9,765
2,853
4,824
4,790
5,387
10, 202
6,912
9, 965
343. 1
238 6
281.0
237 2
585.8
527.9
662.3
411.7
351. 5
418.4
r
306.4
332.9
WHOLES4LE TRADE}
Sales, estimated (unadj.), total
Durable-goods establishments
Nondurable-goods establishments
Inventories, estimated (unadj.), total
Durable-goods establishments .
Nondurable-goods establishments
mil. of dol .
do
do. .
_ -do
-do
do
8,108
2,579
5,529
10, 298
5,255
5,043
10,110
5,287
4,823
2,706
9,855
5,161
4,694
5,005
4,756
2,718
5,878
9,665
4,809
4, 856
2, 646
0, 053
9, 735
4,814
4, 921
9, 925
5,101
3,254
7,135
10, 177
2,797
6,684
4,860
5,342
4,878
5,087
8,
2,
6,
10,
593
457
136
111
5,099
5,012
' 8, 195
2,619
' 5, 576
T
10, 255
5, 325
' 4 930
8, 966
2 910
6 056
10, 432
5,547
4,885
EMPLOYMENT AND POPULATION
POPULATION
Population, continental United States:
Total, incl. armed forces overseas
thousands. _
156, 163
156, 371
156, 568
156, 770
156, 981
157, 234
157, 505
157, 768
158, 012
158, 233
109, 274
109, 328
51, 762
57, 566
109, 426
51, 804
57, 622
109, 556
51, 872
57, 684
109, 692
51, 948
57, 744
109, 804
52, 000
57, 804
109, 906
52, 040
57, 866
110,074
110, 198
52, 208
57, 990
110,315
62, 778
43, 262
19, 516
64, 390
44, 464
19, 926
64, 176
44, 720
19, 456
<>3, 958
44, 396
19, 562
63,698
63,146
43, 468
20, 230
43, 196
19, 950
63, 646
43, 218
20 428
61,176
62, 572
43, 326
19, 246
62, 234
43, 476
18, 758
f>2, 354
43, 392
18, 962
62, 260
42, 604
1 9, 656
42, 482
8,170
54, 402
1,818
54, 636
1,942
7,598
6, 964
55, 390
1,604
7, 548
54, 712
1,438
54, 588
1,284
158, 448
158, 657
158,848
110 648
58 146
110 936
52, 698
58 238
111 210
52 886
58 324
62, 921
43, 240
19 681
62 416
43 334
19 082
62 712
43, 692
19 020
63 134
43 8929
19 24
62 228
42, 404
19 824
61 509
42, 275
19 234
60 524
41 974
18 550
60 924
42 448
18 476
61 460
42* 784
18 676
6 774
55, 454
1 418
5 697
55, 812
1 412
i 5 452
55' 072
i i 892
5 366
55* 558
1 788
5 720
55 740
1 674
EMPLOYMENT
Employment status of civilian noninstitutional
population: cf
Estimated number 14 years of age and over,
total
thousands
Male
do
Female
do
Civilian labor force, total
Male _ _
Female
51, 758
57, 516
61,518
_ _
do
do_ __
do
42, 810
18, 708
61, 744
42, 946
18, 798
.
do
do ..
do
59, 714
41, 586
18, 128
41, 898
18, 234
42, 290
18, 886
Agricultural employment
Nonagricultural employment _
Unemployed
do
.do. __
do
6,012
53, 702
1,804
6,412
53, 720
1,612
54, 216
1,602
Employed
Male
Female
_-
_.
60,132
6,960
52, 144
57, 930
61,862
19,380
7,274
52, 265
58, 050
1
52,502
1
45, 516
47, 584
46, 648
45, 166
45, 846
47, 756
46, 208
46, 928
Not in labor force
do
46. 552
47. 394
i 48. 232
48. 224
48. 076
]
' Revised.
* Preliminary.
See note at bottom of p. S-ll.
t Revised series. Data have been revised to reflect use of new base period and to incorporate other major changes. Revisions back to 1919 for sales by districts
di;
will be shown later. Pub^ „p. oo
lished revisions appear as follows: Accounts receivable (1941-51), p. 32 of the July 1952 SURVEY; total U. S. sales (1919-50),
32„,
of«_
the ™»u
February Mn
1952^SURVEY;total U. S. stocks, p. 32 of the July
1952!SURVEY.
SURVEY.
\ Data on total wholesale trade have been substituted for the series on service and limited-function wholesalers. For annual sales, 1939-48, and end-of-year inventories, 1938-48, see p. 24 of
October 1951 SURVEY; revisions beginning 1949 appear on pp. 16ft',of the October 1952 SURVEY.
cfSee note at bottom of p. S-ll.
SURVEY OF CURRENT BUSINESS
May
S-ll
1952
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
March
April
May
June
July
1953
August
September
October
November
December
January
February
March
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT— Continued
Employees in nonagricultural establishments:
Total, unadjusted (U. S. Dept. of Labor)
thousands..
M^nufacturing
do
Durable-Roods industries.,
do
Nondurable-goods industries
do
Mining total
do _
Metal
_
do...
Anthracite
do
Bituminous coal
- - do .
Crude-petroleum and natural-gas production
thousands ._
Nonmetallic mining and quarrviii^
do
Contract construction
do _
Transportation and public utilities
do. _ .
Interstate railroads
do
Local railways and bus lines
do
Telephone
do _
Telegraph
do
Gas and electric utilities
do
Trade
do.- Wholesale trade
- --do
Eetail trade
do
General-merchandise stores __ _ . ...do.. .
Food and liquor stores
do
Automotive and accessories dealers. ..do
Finance
do
Service
-do _
Hotels and lodging places
do
Laundries
- - do __
Cleaning and dyeing plants
do
Government
do
Total, adjusted (Federal Reserve)
do ._
Manufacturing
do
Mining
_ do _
Contract construction
do
Transportation and public utilities
do
Trade
do
Finance
. . .do _
Service
do
Government
- do _
Production workers in manufacturing industries:
Total (U. S. Dept. of Labor)
thousands. _
Durable-goods industries
do _
Ordnance and accessories
do
Lumber and wood products (except furniture)
thousands. .
Sawmills and planing mills
do...
Furniture and fixtures . do
Stone, clav, and glass products
do
Glass and glass products
do
Primarv metal industries
do _
Blast furnaces, steel works, and rolling
millst
thousands
Primary smelting and refining of nonferrous metals
thousands .
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
thousands
Heating apparatus (except electrical) and
plumbers' supplies
thousands
Machinery (except electrical)
do
Electrical machinery
do
Transportation equipment
do. _
Automobiles
do
Aircraft and parts
. do.
Ship and boat building and repairs do
Railroad equipment
do
Instruments and related products
do
Miscellaneous mfg. industries
-do ..
Nondurable-goods industries _ .
.
do
Food and kindred products
do
Meat products
...
do- .
Dairy products
__ .
do
Canning and preserving
do
Bakery products _ ... .do.. .
Beverages ._
_
. __ - . . -do.
Tobacco manufactures _ . . . _ - _ . -do
Textile-mill products
do
Broad-woven fabric mills .. _
do .._
Knitting mills
..do.
Apparel and other finished textile products
_
thousands
Men's and boys' suits and coats. _ .do.
Men's and boys' furnishings and work
clothing.. .
- -. -thousands- Women's outerwear
__ _ do
Paper and allied products
_.
do
Pulp, paper, and paperboard mills. .-do
Printing, publishing, and allied industries
thousands. _
Newspapers
._
do. ..
Commercial printing
do
46, 001
15,869
9, 035
6,834
904
107
67
363
46, 299
15, 795
9, 054
6,741
896
107
60
357
46, 329
15,654
8, 991
6, 663
893
107
fifi
348
46, 292
15,410
8,621
6,789
814
77
65
294
46, 006
15,162
8,301
6,861
784
74
61
269
47, 124
266
101
2,296
4,118
1 395
139
664
47
526
267
105
2, 416
4,096
1,404
139
648
266
106
2 522
4,131
1,416
137
669
528
529
272
106
2,663
4, 168
1, 396
137
674
45
538
9,668
2,623
7,045
1,437
1,287
738
1,937
4,681
430
353
154
6,528
9,845
2,605
7,240
1,527
1, 295
737
1, 952
4,748
438
358
161
6,551
9, 773
2, 601
7,172
1,466
1,293
742
1,958
4,796
450
363
164
6,602
46, 552
15,894
911
2, 523
4,154
9,862
1,937
4,728
6,543
46, 556
15, 931
899
2,517
4,116
9,849
1,942
4,748
6, 554
12, 815
7,316
56
47, 908
16 542
8,916
7,112
897
107
63
346
47, 789
16, 430
9,218
7,212
886
103
63
345
275
106
2, 722
4,140
1,352
138
682
46
545
273
109
2,781
9,838
2,618
7,220
1, 460
1.292
754
1,977
4,837
475
369
165
6,585
9,792
2, 626
7,166
1,419
1,293
757
1,993
4, 855
509
371
161
6,558
46, 599
15, 870
894
2,497
4,134
9,912
1.948
4,772
6,572
46, 348
15, 547
810
2, 536
4,139
9, 964
1,957
4,789
6,606
46, 170
15, 362
12, 733
7,329
58
12, 588
7, 262
59
12, 329
6, 888
60
12, 061
670
398
296
449
121
1,154
678
405
292
452
123
1,143
635
387
287
449
123
1,141
567
558
47
48
807
116
1,280
722
1,266
643
428
126
61
234
382
48, 926
16 727
9, 628
7 099
872
106
63
336
47, 183
16 649
7 170
873
102
63
337
48, 058
16 642
9,519
7 123
873
105
63
336
266
108
2, 763
263
109
2, 697
262
108
2,618
264
104
2, 467
264
100
4,208
4,228
4,242
4,233
4,238
1 394
138
688
46
546
1 411
137
682
46
540
1 423
136
682
47
535
1 412
136
684
46
531
1 406
136
687
46
534
9,784
2,637
9,970
2,644
7,326
10,114
2,662
10, 320
10 881
16,028
7,147
1,410
1,287
752
1,993
1, 516
1, 298
748
1,971
9,372
7, 452
1,601
1 316
754
1,971
2,687
7,633
1,729
1 321
767
1,973
4,844
4,829
4,774
505
369
156
4,736
468
364
160
6, 712
434
364
163
424
363
161
6,589
6,695
6,663
47, 422
16 324
871
2 569
47,682
4,796
6,686
47, 301
16 196
881
2 582
4, 206
9 981
1. 981
4 781
6, 693
12, 886
7, 146
62
13, 285
7 444
63
13, 377
60
697
424
288
453
125
716
709
427
285
441
123
676
727
442
295
458
127
1,110
557
155
134
48
47
47
806
798
769
115
1,282
714
1,288
663
430
128
57
236
380
113
1,269
708
1,307
667
437
133
60
233
376
115
1,261
706
1,323
672
447
135
59
233
382
5,404
1,057
233
100
114
186
136
5,441
1,138
232
113
155
190
153
78
1,082
506
212
2,688
8 193
2,127
1 338
779
1 981
4 709
424
363
159
7 051
9,639
7 010
867
106
62
335
2,266
4,158
1 369
131
685
46
534
9,928
2,646
7,282
1,499
1,308
769
1,988
4,677
423
363
158
6, 650
P327
p 101
p 2, 255
P 4, 150
p
p
P
p
p
9 858
2, 637
7 221
1,474
1 311
P768
P 1 994
P 4, 677
p 6 608
16 509
872
2 567
4, 237
10 032
1 993
4 760
6 712
47 844
16 621
873
v. 517
4, 2?8
10 096
2 001
4 757
6 741
47, 741
16, 704
874
4,748
6,669
p 47, 850
p 16 775
p 866
P 2 534
p 4, 186
p 10 081
p 2, 004
p 4 748
P 6, 656
63
13, 462
7,719
64
13, 529
7,815
65
13, 447
7,819
64
p 13, 538
p 7 888
P65
719
438
304
462
132
1 153
701
430
310
467
133
1,162
701
424
315
468
135
1,173
679
410
317
465
134
1,185
653
393
316
460
135
1 188
P 319
540
565
566
568
571
573
48
47
46
46
46
46
726
783
821
847
863
881
881
112
1,203
685
1,169
521
454
135
50
230
375
121
1 181
708
1,192
525
466
134
57
238
395
128
1 193
' 743
1,330
680
448
135
56
242
414
131
1,212
766
1,380
706
472
134
57
246
429
131
1 242
784
1,421
742
478
134
55
251
437
131
1 283
800
1,460
761
493
137
58
254
426
129
1 289
804
1,484
779
500
136
58
255
415
5, 502
1,215
234
114
211
195
163
78
1 081
509
209
5 740
1 279
232
111
280
194
160
87
1 120
519
221
5 841
1 314
5,794
104
313
195
151
91
1 141
522
225
1 233
235
99
222
196
147
91
1 150
524
228
5 743
1 160
245
96
149
195
147
88
1 162
527
230
5 714
1 112
247
94
126
191
142
87
1 164
530
229
5 628
1 066
240
93
114
186
136
84
1 151
524
223
1 068
129
1 066
128
1 065
127
1 073
125
1 065
124
111
2,544
4,099
9, 965
1,964
4, 783
6,676
6,559
46, 970
15,924
889
2, 575
4,160
9,967
1,973
4,249
9 988
1,991
4 750
6 680
7,583
2,490
4,194
10, 064
1,998
5,499
1,057
239
96
104
189
138
78
1,113
518
210
1, 093
507
210
5,326
1,074
230
107
122
183
146
77
1, 083
503
209
1,051
127
996
121
959
113
972
119 1
982
117
1 050
128
238
306
401
208
239
275
398 !
206 i
238
252 j
398
206
240
252
403
209
239
269
395
203
249
292
408
209
253
292
411 '
208
255
9g4
418
209
256
284
421
210
257
298
424
213
255
302
418
211
508
152
167
507
152
166
507
154
167
511 i
154
167
507
154 '
165
509
154
165
515
155
167
522
155
170
524
156
170
526
157
172
519
154
171
*236
(a)
* 47, 154
p 16 755
P 9, 720
P 7 035
P 857
p 104
—.
(a)
P653
P457
v 1 192
P 904
•P \ 297
p 820
p 1 501
T, 255
P 494
P 5 650
P 1 062
P 82
P 1 156
P 1 079
P 490
»517 !
j
r
a
Revised.
p Preliminary.
With the release of March 1953 data for employment and hours and earnings, the BLS has issued revisions of previously published figures to adjust to
the first quarter 1951 benchmark. The revised data will be shown in the June SURVEY and in an early issue of the Weekly Supplement.
{Figures for 1939-46 on the revised basis for the indicated series, available since publication of the 1951 STATISTICAL SUPPLEMENT, will be shown later.
NOTE FOR EMPLOYMENT SERIES, P. S-10. Beginning January 1953, estimates are based on the 1950 census; unrevised estimates for January consistent with the 1940 census and
comparable with data through December 1952 are as follows (thous.): Civilian noninstitutional population—total, 110,450; male 52,345; labor force—total, 62,294; male, 43,213; employed—total,
60,406; male, 41,892; agricultural, 5,443; nonagricultural, 54,963; unemployed, 1,888; not in labor force, 48,156 (data for'employment and unemployment estimated by OBE)V The overall increase
in the
of the labor force (roughly 400,000
foi the total;, 150,000
_.„,
, _.._,
, reflected in the _.
0,000 for
for nonagricultural;
250,000 for „„
agricultural) is not fully
January figures, but is spread over the 3-month period,
0
Digitized
forlevel
FRASER
January-March 1953. Appropriate allowances should be made in comparing the estimates beginning 1953 with those for earlier periods.
SURVEY OF CUREENT BUSINESS
S-12
Unless other-wise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
May 1053
1952
March
April
May
June
July
August
September
October
November
December
January
1953
^ebru^
1
ary
March
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT—Continued
Production workers in mfg. industries — Continued
Total (U. S. Dept. of Labor)— Continued
Nondurable-goods industries— Continued
Chemicals and allied products
thousands. .
Industrial organic chemicals _ .
do
Products of petroleum and coal
do
Petroleum refining
do
Rubber products _ _ _ _ _ _ _ _ _ _ _ d o
Tires and inner tubes
do
Leather and leather products
do
Foot wear (except rubber)
do _ „
Manufacturing production-worker employment
index, unadjusted (U. S. Dept. of Labor)f
1947-49 = 100
Manufacturing production -worker employment
index, adjusted (Federal Reserve)!- .1947-49=100-.
Miscellaneous employment data:
Federal and State highways, total §
number..
Construction (Federal and State)
do
Maintenance (State)
do
Federal civilian employees:
United States
thousands_
Washington, D, C., metropolitan area, do
Railway employees (class I steam railways):
Total
_
thousands.
Indexes:
Unadjusted
1935-39=100..
Adjusted
- _ _do_
530
163
197
155
213
95
336
217
517
161
168
126
213
95
330
213
512
163
190
155
215
95
340
221
511
166
191
158
202
93
340
219
513
168
205
161
212
92
357
232
526
168
203
159
217
94
355
228
534
170
203
159
222
94
355
224
535
172
203
159
227
95
358
225
535
173
201
159
230
96
362
231
533
174
200
159
230
96
362
235
^536
103.6
102.9
103.7
104.0
101.8
99.7
97.5
104.2
107.4
108.1
108.8
109.4
108.7
*> 109. 5
(a)
103.4
100.8
99.2
103.4
105.6
106.5
107.8
108.5
109.1
P 109. 6
(°)
239, 087
68, 500
116,987
270, 654
99, 013
118,411
296, 941
120, 225
122, 354
328, 561
141.561
128, 338
341, 207
149, 194
131,788
344, 947
151,418
132, 378
334, 323
149, 271
126, 444
315, 261
138. 599
121, 337
284, 896
109, 889
119,630
250, 904
77, 795
117.. 558
2,381
249
2,389
248
2,392
248
2,419
251
2 422
'251
2,409
248
2,390
246
2,386
245
2,383
245
2,378
244
1,255
1,265
1,277
1,257
1,214
1,256
1,272
1,285
1,274
1,260
119.7
122.7
120.5
122.5
121.8
122.3
120.1
118.4
116.0
113.5
119.7
117.2
121.3
118.4
122.5
118.5
121.4
120.3
119.8
121.7
131.9
128.1
128.1
126.4
121.1
133.3
142.1
144.2
145.6
40.7
41.7
44.3
39.8
40.8
43.4
40.2
41.1
43.7
40.5
41.2
43.5
39.9
40.2
42.3
40.6
41.0
41.0
41.3
41.9
42.7
41.4
42.2
42.3
40.4
39.9
41.3
41.1
39.9
41.4
40.7
40.3
40.6
40.5
38.9
39.0
41,1
40.9
40.9
41.0
39.8
39.2
42.2
42.1
41.0
40.9
39.7
40.1
40.9
40.5
40.3
40.2
38.5
39.5
41.9
41.6
41.2
41.1
40.0
40.4
41.6
41.4
42.0
41.3
39.7
41.1
41.4
37.4
37.4
36.8
37.7
40.3
41.8
41.5
41.9
41.8
41.9
41.7
40.7
41.3
40.9
39.8
40.5
43.5
41.5
41.3
40.4
42.9
40.9
41.3
41.7
40.9
39.0
42.8
40.7
40.7
39.9
42.0
40.5
40.3
41.4
40.1
40.2
42.9
40.6
41.1
40.1
42.8
41.1
40.4
41.8
40.5
40.2
42.7
40.9
40.7
39.4
42.7
40.9
40.6
41.6
40.3
39.6
41.6
39.9
39.3
35.9
42.7
40.5
40.1
40.7
39.8
39.3
41.0
40.6
43.8
38.1
41.0
40.4
36.6
38.1
37.2
37.8
38.4
40.7
40.3
43.8
37.5
41.1
40.6
34.6
37.2
37.1
36.2
39.0
41.4
40.7
44.3
37.9
41.8
41.8
37.9
37.7
37.1
36.9
39.5
42. 1
41.1
45.6
38.7
42.3
42.3
38.6
38.4
37.7
37.6
39.5
42.1
40.9
45.1
41.0
41.9
43.0
37.9
38.5
38.1
38.0
538
168
194
152
215
94
344
222
T
(a)
J>200
»230
*>368
239, 117 v 229, 834
66, 668 p 62, 049
116, 321 pl!2,723
r
r
2,370
243
2, 363
242
P 2, 344
P241
1,229
'1,219
1,222
117.1
'•121.8
P 116.0
"118.9
v 116.4
"119.4
149.2
146.8
v 147. 5
C)
41.2
42.0
41.0
41.7
42.6
41.7
41.1
41.9
40.8
Ml.O
Ml. 9
p 42 7
(a)
42.0
41.7
42.5
42.0
40.9
41.3
41.3
41.1
42.0
41.3
40.5
41.5
41.7
41.2
42.8
41.8
41.5
41.8
40.9
40.4
41.4
40.9
40.7
41.6
Ml. 7
Ml. 3
40.9
40.6
41.2
41.0
41.1
41.6
41.7
41.5
41.6
41.9
41.9
40.8
42.0
42.5
42.4
43.3
42.3
40.6
42.1
40.9
40.3
38.4
42.3
40.4
39.8
41.5
40.7
41.6
42.9
41.9
42.2
41.8
43.6
40.5
39.3
42.3
41.6
42.3
42.9
42.0
42.6
43.1
43.0
39.4
39.8
42.4
42.1
41.3
42.7
41.9
41.8
41.9
43.1
37.7
39.6
42.7
42.1
42.0
43.7
42.5
42.6
42.5
43.6
40.1
41.4
43.1
42.5
40.2
43.1
42.1
41.8
41.5
43.0
39.5
40.4
42.0
41.6
40.0
41.4
40.2
44.1
40.2
41.8
41.4
39.1
39.7
39.3
39.0
40.4
42.3
41.4
44.6
43.0
41.9
40.9
39.6
40.2
40.0
39.2
40.4
41.9
42.0
43.7
41.2
41.6
40.6
39.9
40.6
40.6
39.8
40.3
41.8
43.6
43.9
36.8
41.6
41.1
38.7
40.4
40.5
39.8
40.5
42.1
44.7
43.8
38.1
41.1
40.8
39.2
40.8
40.9
39.1
39.9
41.3
42.0
44.3
39.0
40.9
40.3
38.5
40.1
40.4
38.0
P39.8
MO. 7
37.3
36.2
37.4
36.7
37.5
36.1
37.4
35.8
37.4
36.9
36.8
36.4
»37.3
38.0
36.2
43.0
43.6
38.2
35.7
43.5
44.0
39.0
35.0
43.8
44.2
38.9
35.4
43.8
44.4
38.5
36.0
44.0
44.7
37.2
35.9
43.2
44.3
38.9
36.1
40.3
40.9
40.7
40.8
40.2
40.6
40.5
39.5
39.7
39.2
36.5
40.5
41.5
40.8
41.2
40.5
41.1
40.7
38.6
38.1
39.0
36.4
40.4
41 7
41. 1
40.9
40 2
41.5
40,7
38.2
37.2
39.0
36.3
40.2
41.8
41.4
41.0
40.7
41.1
40.2
37.6
36.3
39.5
37.2
40.9
41.6
41.1
40.7
40.5
41.8
40.8
39.5
39.1
38.7
35.6
40.4
41.1
40.7
40.6
40 5
41 0
40.1
39.4
39.4
r
PAYROLLS
Manufacturing production-worker payroll index,
unadjusted (U. S. Dept. of Labor)t-1947-49=100-_
LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor) :
All manufacturing industries
hours .
Durable-goods industries
do
Ordnance and accessories
do
Lumber and wood products (except furniture)
hours
Sawmills and planing mills
do
Furniture and fixtures
do
Stone, clay, and glass products
do
Glass and glass products
do
Primary metal industries
do
Blast furnaces, steel works, and rolling
millsj
_ hoursPrimary smelting and refining of nonferrous
metals
hours. _
Fabricated metal prod, (except ordnance, machinery, transportation equipment) hoursHeating apparatus (except electrical) and
plumbers' supplies
hours
Machinery (except electrical)
do
Electrical machinery
do _ _
Transportation equipment
do
Automobiles
do _ _
Aircraft and parts
do
Ship and boat building and repairs. ..do
Railroad equipment
do
Instruments and related products
do
Miscellaneous mfg industries
do
Nondurable-goods industries
do
Food and kindred products.
do
Meat products
do
Dairy products
__
do _ .
Canning and preserving
_ do
Bakery products
do
Beverages
do
Tobacco manufactures _
_ ._ -do _.
Textile-mill products
do
Broad-woven fabric mills
do Knitting mills. _
_ _ -do _ _ .
Apparel and other finished textile products
36.4
36.8
35.0
36.2
36.0
hours .
33.2
32.9
35.3
34.2
33.7
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
37.2
35.8
36.7
37.3
36.8
clothing
hours
34.2
36.2
36.0
34.8
35.0
Women's outerwear
_ _ _ .do 41.4
41.8
42.6
42.4
42.4
Paper and allied products. _
_do___
42.6
42.2
43.8
43.1
43.4
Pulp, paper, and paperboard mills.- -do
Printing, publishing, and allied industries
38.2
38.6
38.7
38.5
38.8
hours. .
36.1
36.1
36.5
36.4
36.1
Newspapers
_ _ _
do __
40.3
39.5
40.0
40.2
40.3
Commercial printing. _ _ _ _ _ _ _ _ _.do
40.9
41.3
41.0
41.1
40.7
Chemicals and allied products . _
do
40.2
40.3
40.3
40.3
40 5
Industrial organic chemicals _ _
-do
37.2
40.7
40.5
41.3
40.8
Products of petroleum and coal
do
40.5
40.3
35.7
40.4
40.8
Petroleum refining
_ _ do. _
40.3
39.6
40.5
40.9
39.6
Rubber products _ . _ _ _ _
do ___
40.4
39.8
39.3
41.1
39.8
Tires and inner tubes
do
37.3
38.7
37.1
38.5
38.2
Leather and leather products
_ ._ do
38.7
36.7
36.8
37.8
38. 3
Footwear (except rubber) _ __
do
r
Revised.
» preliminary.
« See corresponding note on p. S-ll.
fRevised series. Indexes have been shifted to new base period; monthly data for 1919-50 are shown on pp.
§Total includes State engineering, supervisory, and administrative employees not shown separately.
19 and 20 of the October 1952 SURVEY
Ml.O
Ml.O
M2.1
M3.1
Ml. 9
P 42 2
Ml. 7
Ml. 4
*>37.6
MO.O
M3.2
^38.7
MO. 7
MO. 2
*39.6
JSee note mark 3d "J" on p. S-ll.
SURVEY OF CURRENT BUSINESS
May 1053
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-13
1953
19,>2
March
April
June
May
July
August
September
October
November
December
J anuary
February
March
EMPLOYMENT AND POPULATION—Continued
LABOR CONDITIONS—Continued
Average weekly hours per worker, etc.— Continued
Nonmanufacturing industries:
Mining:
Metal
hours
Anthracite
do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
hours
Nonmetallic mining and quarrying
do ___
Contract construction
do
Nonbuilding construction
_ do __
Building construction. __ __
do
Transportation and public utilities:
Local railways and bus lines
do
Telephone
do
Telegraphf
do
Gas and electric utilities
_.
do _ _ _
Trade:
Wholesale trade
do ___
Retail trade (except eating and drinking
places)*
_hours..
General-merchandise stores
do
Food and liquor stores _
__.do __
Automotive and accessories dealers do
Service:
Hotels year-round
do
Laundries
do
Cleaning and dyeing plants
do
Industrial disputes (strikes and lock-outs):
Beginning in month:
Work stoppages
_ _ _
number
Workers involved
thousands..
In effect during month:
Work stoppages
number _
Workers involved
thousands
Man-days idle during month .
_.do
Percent of available working time
TJ. S. Employment Service placement activities:
Nonagricultural placements..
thousands..
Unemployment compensation (State laws):
Initial claims
._
do
Continued claims
do
Benefit payments:
Beneficiaries weekly average.
do
Amount of pavments
thous of dol
Veterans' unemployment allowances:
Initial claims
thousands
Continued claims
do
Amount of payments
. thous. of dol_.
Labor turn-over in manufacturing establishments:
Accession rate. . .monthly rate per 100 employees..
Separation rate, total
do
Discharge
do
Lay-off
do
Quit
do
Military and miscellaneous
_
do .
44.5
30.1
35.4
43.1
28.1
29.9
44.4
33.3
31.8
42.6
30.1
28.5
43 1
26.7
28.1
43 9
29.2
36.2
44 9
34.1
38.9
44.3
32.1
32.3
43 6
35.8
35.5
44 6
34 5
36.4
43 8
28 4
35 5
41.6
41.1
44.8
38.0
39.8
37.6
40.6
45.7
38.6
41.2
37.9
41.3
45.8
39.4
42.2
38.7
41.0
44.9
39. 1
41.8
38.4
40. 5
45. 8
39.3
42.4
38.5
41.3
46.4
39.8
43.6
38.8
40.6
46.4
39.6
43.1
38.7
41.5
44.6
37.4
39.0
37.1
40 8
44.3
38 5
40.1
38.2
41 2
43.2
37 0
38. 1
36.8
46.6
38.5
44.0
41.4
46.1
34.9
46.9
38.7
41.4
41.2
47.1
39.0
44.5
41.2
46.9
39.3
44.8
41.5
47.0
39.0
44.5
41.4
46.0
39.0
42.6
41.6
45.9
38.9
42.3
41.6
45. 5
38.9
41.9
41.9
46 0
38.8
42 1
41.7
44 9
38.7
41 7
41.8
40.4
40.1
40.4
40 5
40.6
40.6
40.7
40.7
40.7
40.9
40.6
39.8
35.8
39.5
45.1
39.7
36.0
39.6
45.4
39.6
35.7
39.2
45.3
40.1
36.3
40.2
45.3
40.4
36.6
40.6
45.4
40.4
36.5
40.7
45.2
39.5
35 2
39.8
45 2
39.2
34.8
39.2
45.4
38.8
34.3
39.3
45.1
39.5
36.4
39.3
45.5
39.0
34 5
39.1
45 3
42.5
40.9
40.1
42.8
41.1
41.3
42.6
41.4
42.0
42.6
41.8
42.6
42.4
41.2
40.3
42.6
40.6
40.3
42 4
41.0
41 5
42.4
40.9
41.9
42.3
40.5
40.5
43.0
40.9
41.4
42 4
40.7
40 5
400
240
475
1,000
475
300
425
170
425
125
450
225
475
230
425
470
250
90
200
80
350
200
350
120
450
180
600
320
1,400
.17
650
1,200
5,300
.61
675
1,200
7,500
.90
650
1,000
14, 000
1.68
650
850
12, 500
1.44
675
310
2,100
.25
700
360
3,200
.37
650
600
3,500
.37
475
220
1,500
.19
350
120
1,000
. 11
500
250
1,250
15
550
200
1,000
12
650
230
1,100
.12
465
566
572
581
556
588
658
641
507
467
474
455
521
867
4,834
1,109
4,825
915
4,445
978
4, 255
1,585
4,961
733
4,301
568
2,985
679
2,746
690
2,576
1,126
3,844
1,074
4 602
761
4 223
831
4 288
1,113
101, 564
993
94, 385
918
86, 958
918
83, 511
871
88 612
980
95, 389
631
62 094
530
54, 227
536
47 730
672
69 061
953
94 360
956
86 827
930
92 308
43.8
37.1
38.5
36.9
0)
3
54
0)
2
44
C1)
I
(i)
31
1
28
0)
U
(i)
1
25
1
13
(i)
(i)
0)
1
U
(i)
(i)
(i)
(i)
9
6
4
4
(i)
0)
U
(a)
(i)
(i)
7
7
3.9
3.7
.3
1.1
2.0
.3
3.7
4.1
.3
1.3
2.2
.3
3.9
3.9
.3
1.1
2.2
.3
4.9
3.9
.3
1.1
2.2
.3
4.4
5.0
.3
2.2
2.2
.3
5.9
4.6
.3
1.0
3.0
.3
5.6
4.9
.4
.7
35
.3
5.2
4.2
.4
.7
2.8
.3
4.0
3.5
.4
.7
2.1
.3
3.3
3.4
3
1 0
1 7
3
4.4
3.8
3
.9
21
.4
4.2
'3 6
4
.8
2r 2
4
67.40
72.81
78.85
65.87
71.07
77.04
66.65
71.76
78.22
67.15
71.98
77. 73
65.76
69.67
75 55
67.76
72.49
74.09
70.04
75.84
79 64
70.59
76.76
78. 17
70.82
76 86
74 87
72.22
78 51
77 06
71.51
77 43
75 93
P71.42
T> 77 43
P go 57
59.59
58.85
60.67
65.76
66.59
76.55
61.13
60. 37
59.48
64.88
65.16
71.53
59.96
60.45
59.80
65.85
66.78
72.17
64. 73
65. 17
60. C2
66. 09
67.37
73.38
63. 11
62 94
58 56
64. 92
65. 49
71.89
66.20
66.35
60.19
67.03
68.48
77.77
66.10
66. 53
62 41
68. 39
69. 32
81.91
65.81
66 22
63 54
70.27
71.86
81.86
64 80
65 10
63 34
70 21
73.59
82 92
63
63
65
71
74
84
93
70
01
10
95
06
62 25
61 97
62 89
69 94
74.64
84 78
P 63 43
P 70 58
78.33
70.16
70.46
70.77
72.04
81.97
86.79
84.20
86.19
86.14
85.53
74.03
73.33
74.41
74.36
75.55
76.67
77.81
76.98
77 71
78 39
79 44
71.43
69.64
70.95
70.18
67. 66
70.67
74.26
75.86
76.15
78.59
76.82
» 76. 75
70.35
80.00
70.43
67.74
78.62
69.03
69.99
79.06
68.90
70. 11
78.87
69.73
68. 43
76.46
67.91
71.17
77.84
69.86
74.05
80.31
72.11
75.80
80.82
72.66
74.22
81 22
72.61
76.10
84 08
73 91
72.48
83 05
73.93
p 83 40
p 74. 54
85.56
89 29
84.69
73. 18
76. 07
75 92
64.50
87. 71
91 21
86 02
78.48
80 52
77 19
65.92
85. 10
87 11
85 18
76. 39
79 26
74 80
65. 06
(i)
CU1)
6
P4.3
»4 1
v 4
v. 8
P2 5
P. 3
WAGES
Average weekly earnings (U. S. Department of
Labor) :
All manufacturing industries
dollars..
Durable-goods industries
__do
Ordnance and accessories
do
Lumber and wood products (except furniture)
dollars
Sawmills and planing mills
do
Furniture and
fixtures
do
Stone, clay, and glass products
_ do
Glass and glass products
_ _do
Primary metal industries _
--do
Blast furnaces, steel works, and rolling millsj
dollars _ _
Primary smelting and refining of n on ferrous
metals
dollars
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
dollars ._
Heating apparatus (except electrical) and
plumbers' supplies
dollars. _
Machinery (except electrical)
do
Electrical machinery
_ _ do _.
80.08
78.47
79.57
79.12
78.38
85.16
86.99
Transportation equipment
do
75.50
80.84
79. 68
80.24
77.76
79.27
92.28
Automobiles
_
do
88.20
71. 33
80.57
78.08
80.38
80.36
80. 03
84.24
83. 59
80.66
Aircraft and parts . _ _.
_
_do_ _.
76.81
75.01
75.87
77. 68
76. 36
76.03
75.96
Ship and boat building and repairs.. _do
74.76
76.25
78. 55
77.79
75.82
74. 83
76.11
76. 38
74.75
Railroad equipment. ..
-do. __
71.47
72.04
70.71
71.97
71.81
75.01
70.49
Instruments and related products
do
74.45
60.57
59.31
60.39
60. 01
60.68
63.99
59.06
62.69
Miscellaneous mfg. industries
do___
r
Revised.
* Preliminary.
° See corresponding note on p. S-ll.
* Less than 500 claims.
tRevised series. Beginning 1S52, data cover all domestic (land-line) employees except messengers and those compensated entirely on a
divisional headquarters personnel and trainees in school.
*New series. Data beginning 1947 will be shown later.
tSee note marked "{" on p. S-ll.
00
P 62 28
p81 26
v 86. 72
P 74 52
^64.79
commission basis; earlier data exclude general and
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
May 1953
1952
March
April
May
June
July
1953
August
September
October
November
December
January
F
^U-
Marc*
(«)
EMPLOYMENT AND POPULATION— Continued
WAGE S— Con tinned
Average weekly earnings, etc. — Continued
All manufacturing industries— Continued
Nondurable-goods industries
dollars
Food and kindred products
do
Meat products
do
Dairy products
do
Canning and preserving
do
Bakery products
_
do
Beverages
_ do
Tobacco manufactures
do
Textile-mill products
do
Broad-woven fabric mills
do
Knittin 0 ' mills
do
Apparel and other finished textile products
dollars. .
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
dollars
^rVomen'<3 outerwear
do
Paper and allied products
do
Pulp, paper, and paperboard mills. . . do
Printing, publishing, and allied industries
dollars..
Newspapers
do
Commercial printing
do
Chemicals and allied products
do
Industrial organic chemicals
do
Products of petroleum and coal
do
Petroleum refining
do
Rubber products
do
Tires and inner tubes
do
Leather and leather products
do
Footwear (except rubber)
do
Nonmanufacturing industries:
Mining:
Metal
do
Anthracite
do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
dollars..
Nonmetallic mining and quarrying
do
Contract construction
do
Nonbuilding construction
do
Building construction
do
Transportation and public utilities:
Local railways and bus lines
do
Telephone
do
Gas and electric utilities
do
Trade:
\Vholesale trade
do
Retail trade (except eating and drinking
places)*
dollars
General-merchandise stores
do
Food and liQuor stores
do
Automotive and accessories dealers. ..do
Finance:
Banks and trust companies
do
Service:
Hotels year-round
do
Laundries
- - - - - do
Cleaning and dyeing plants
do
Average hourly earnings (U. S. Department of
Labor):
All manufacturing industries
dollars _.
Durable-goods industries
do
Ordnance and accessories
do
Lumber and wood products (except furniture)
dollars. .
Sawmills and planing mills
do
Furniture and
fixtures
do
Stone clav and glass products
do
Glass arid glass products
do
Primary metal industries
do
Blast furnaces, steel works, and rolling
mills t
_ . . dollars .
Primary smelting and refining of nonferrous
metals
dollars
Fabricated metal prod, (except ordnance, machinery, transportation equipment)
dollars..
Heating apparatus (except electrical) and
plumbers' supplies
dollars. .
Machinery (except electrical)
do
Electrical machinery
. _ _ . . do
Transportation equipment
do
\utomobiles
do
Aircraft and parts
do
Ship and boat building and repairs. . .do
Railroad equipment
do
Instruments and related products _ ..do
Miscellaneous mfg industries
do
60.13
63. 30
68.09
62. 55
51.40
59. 29
73.41
43.88
51.32
49.48
48.16
58.71
62.80
67. 78
62.24
50. 44
60.25
73. 81
41.45
49. 85
49.08
45.94
59.71
64.09
68.82
62.95
49. 50
61. 57
76.95
45.40
50.78
49.42
46. 86
60. 83
65.34
69.91
65. 30
50.62
62.27
78.68
46.74
51.61
50.37
47.23
61.03
65. 13
70. 35
64. 99
52. 56
61.89
80. 93
46.24
51. 78
51.02
47.80
61.68
63.67
69.39
63. 72
52. 98
61.36
78.16
46.92
53.48
52.62
49.14
62.42
64.34
71.17
65.61
55. 13
61.89
76.89
47.01
54. 55
53.76
49.71
62.62
64.74
72.70
64.11
54. 75
61.98
75.80
47.48
55.22
54.85
50.59
62.99
65. 96
76. 21
65. 37
48.72
62.28
78. 05
46.94
55.11
54. 76
50.75
63. 67
67.02
78.40
65. 70
52. 08
61.81
77. 56
47. 75
55 77
55. 42
49.89
63.16
66.82
75 39
67.69
53. 94
61.84
76. 65
46.36
54.86
54. 46
48.79
T> 63. 16
p 65 53
47.36
52. 63
43. 58
48.20
45.06
48.77
45.21
50.86
45. 72
49.54
48.12
54.16
48.47
55. 27
48.15
54. 51
47. 76
53.77
48.32
55.05
48 24
55. 00
p 48 97
39.34
53.14
67.48
72.93
38.02
47.81
65. 33
69.88
39.47
49.43
66. 34
71.01
39. 35
48. 79
67.71
72. 54
38.64
51.63
68. 39
74.17
40.13
54. 70
69.36
73.99
40.61
53.94
71.08
75.72
41.69
51.73
71.79
76.42
41.66
51.61
72.23
77.39
41.12
53. 53
72.78
78.00
39. 95
54. 46
71.93
77 57
79. 06
84. 55
79. 55
69.18
72 54
82.09
85. 50
72.58
83.46
50.46
49.15
78. 23
85. 02
78.21
69. 09
73.20
82.34
85. 68
71.40
81.90
48. 53
46. 57
79.86
87.42
79.96
69 73
73. 67
75.22
76. 58
73. 47
84. 96
48.90
46.63
80.16
87.32
80. 52
70.65
74.07
84. 95
87. 83
75.01
87.79
50. 04
47.74
79. 93
86. 64
80.64
70. 29
74.68
88. 05
90. 82
72.15
84.22
50. 01
47.80
80. 83
86.89
80. 20
70.68
75. 13
87.31
90.37
73. 65
85. 29
52. 02
50.50
82.16
88.91
81.45
71. 30
76.21
89.28
92.10
75.17
86.24
51.26
48.73
81.67
88.93
81.57
71. 60
76. 94
88. 06
90.81
75. 61
86.04
51.15
47.91
81. 59
88. 68
81.16
72 27
78 00
88.60
92. 10
76.82
87.39
50. 84
47. 30
83.66
92.11
83. 89
72.30
77. 51
88. 36
92. 06
79.00
89.96
53.21
50. 71
81.70
87.22
82 25
72. 05
77. 05
88.47
91.98
77.82
89.14
53. 23
51.34
80. 59
67.00
79.26
77. 67
62.52
66. 68
80. 45
74.69
70. 25
79.32
66.67
64. 30
80.38
59. 35
63. 45
81.17
65.70
80. 55
85.40
76.73
87.91
84. 35
71.68
75. 68
84. 85
80.73
86.41
87.10
85. 46
91.36
87.12
70.97
87.76
84. 57
67. 50
83. 51
79.46
84. 57
83. 10
69.31
85. 20
82. 43
85.92
81.93
70.74
85. 81
84.42
86.03
85. 53
71.31
87. 35
86.72
87.50
85. 85
70. 45
87.78
86. 36
88.09
85. 70
73. 10
89.64
89.93
89. 59
89.00
75.17
92.18
94.05
91.68
86. 60
75. 82
92.98
94.13
92.69
90. 35
72. 97
88. 15
85. 02
89.11
87.92
71.90
91.13
87.02
92. 18
89. 57
70. 55
87. 54
82.60
88.65
74. 89
59.29
71.02
73. 28
74. 31
53. 92
76.17
60.60
73. 24
73.46
76.91
60.80
72.40
74.41
78.14
62.29
72.84
74. 78
78.68
62. 05
72.00
74.81
77.56
62. 95
74.51
76.25
77.75
63. 76
74. 66
77.00
77.62
64. 57
73. 83
78.90
78.48
63. 48
74.14
78.48
76.91
63.62
73.77
78.29
66.62
66.49
66.94
67.59
67.80
68.13
68.70
69.23
69. 47
69.82
69. 63
50. 90
37. 20
54.87
67.74
50.97
37.04
55. 16
69.28
51.68
37.91
55.12
71.08
52.85
38.80
56. 68
71.71
53. 09
38.98
56. 96
70.91
53. 00
38.84
56. 94
69.61
52.30
37.66
56.32
70.65
52. 29
37.51
56. 17
71.73
51.72
36. 67
56. 59
71.57
51.82
38. 18
56. 55
71. 62
52. 81
37. 57
56. 85
72.03
p 72. 06 I
P go 59 !
p 71.96 i
p 87. 48
p 53 54
!
52.30
52.03
52.12
51.96
52.44
52. 48
52.41
53.07
53. 42
53. 48
53.97
36.38
38.00
43.39
36.72
38.47
45.22
36. 76
39.00
46.41
36. 72
39. 54
47.20
36.72
38.73
44.45
36.98
38.20
44.13
36.97
38.95
46.02
37.23
38.98
46.51
37. 35
38.76
44.91
38.10
39.30
46.16
37.44
39.07
45.16
1.656
1.746
1.780
1.655
1.742
1.775
1.658
1.746
1.790
1.658
1.747
1.787
1.648
1.733
1.786
1.669
1.768
1.807
1.696
1.810
1.865
1.705
1.819
1.848
1.719
1.830
1.826
1.732
1. 843
1.848
1.740
1.848
1.861
P 1.742
p i 848
p 1 887
1. 475
1. 475
1.469
1.600
1.669
1.849
1. 502
1.498
1.465
1.602
1.675
1.834
1.459
1.478
1.462
1.606
1.678
1.841
1.534
1.548
1.464
1.616
1.697
1.830
1. 543
1.544
1.453
1.615
1. 701
1.820
1. 580
1.595
1.461
1.631
1.712
1.925
1.589
1.607
1.486
1.656
1.746
1.993
1. 567
1.588
1.495
1.673
1. 757
1.982
1. 569
1.584
1. 508
1.700
1.817
1.998
1.533
1. 546
1. 519
1.701
1.806
2.011
1.522
1.534
1.519
1.710
1.834
2.038
* 1.519
1.892
1.876
1.884
1.923
1.911
2.034
2.122
2.074
2.092
2.101
2.154
1.771
1.767
1.776
1.779
1.803
1.843
1.866
1.855
1.868
1.871
1.896
1.713
1.711
1.718
1.716
1.700
1.732
1.768
1.785
1.796
1.815
1.816
p 1 823 i
1.737
1.839
1.697
1.737
1.837
1.696
1.741
1.843
1.697
1.744
1.847
1.705
1.728
1.838
1.702
1.753
1.849
1.708
1.780
1.872
1.721
1.792
1.884
1.730
1.797
1.902
1.733
1.812
1. 924
1.739
1.803
1.927
1.756
P 1 935
P 1 779
1.939
2.001
1.878
1.878
1.902
1.714
1.481
1.928
1.997
1.859
1.852
1.892
1.708
1.479
1.936
2.001
1.878
1.S58
l.SM
1. 718
1.491
1.944
2.012
1.882
1. 859
1.916
1.730
1.489
1.921
1. 987
1.889
1.846
1 . 866
.732
.484
1.945
2. 025
1. 892
1.878
1. 905
1.736
1.491
2.018
2.110
1.932
1.918
1.902
1.760
1.507
2.042
2.141
1.944
1. 928
1.919
1. 769
1. 520
2. 047
2.131
1.965
1.941
1.921
1.778
1. 532
2. 059
2.146
1.973
1.957
1. 945
1.791
1.551
2.036
2.099
1.981
1.934
1.962
1.781
1.564
. 545
.547
.720
.441
.282
.477
.882
1 . 542
1.538
1.726
.445
.318
1.468
1.888
1.545
1.521
1.719
1.471
1.282
1.477
1.880
1.550
1.545
1.731
1.467
1.329
1 . 490
1.867
1. 563
1.578
1.748
1.489
1.324
1.497
1. 899
1.572
1.592
1.754
1.500
1.367
1. 504
1. 901
1.583
1.618
1.795
1.528
1 . 383
1.512
1.902
1. 529
1.530
1. 531
1.540
Nondurable-goods industries
. do
1.548
1.544
1.543
1.552
Food and kindred products
...do
1.682
1.691
1.677
1.701
Meat products
do
1.428
1.421
1.421
1.432
Dairy products
_.
do _ _ _
1.306
1.349
1.345
1.308
Canning and preserving
do
1.466
1. 473
1.446
1.472
Bakery products
_ . . -do
1.818
1.841
1.860
1.817
Beverages
_ _ -do
«• Revised.
* Preliminary.
° See corresponding note on p. S-11 .
tRevised series. See note "t" on p. 8-13.
*New series. Data beginning 1941 will be sh own
p 46. 51 !
P 54 80
later.
|
JSee no te marked "I" on p. £3-11.
(°)
-
v 1 521
p 1 709
- -
P 1 98? '
* i\
i
p o 055
P 1 787
P 1 5f>5
P i 587
P 1 610
!
SURVEY OF CUERENT BUSINESS
Mav 1053
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey > March
S-15
1953
1952
April
May
June
July
August
Septem-
ber
October
Novem-
Decem-
January
ber
ber
Febru-
March
ary
EMPLOYMENT AND POPULATION—Continued
WAGES—Continued
Average hourly earnings, etc. — Continued
All manufacturing industries — Continued
Nondurable-goods industries — Continued
Tobacco manufactures
dollars .
Textile-mill products
do
Broad-woven fabric mills
do
Knitting mills
do
Apparel and other finished textile products
dollars ._
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
dollars
Women's outerwear
do
Paper and allied products
do
Pulp paper and paperboard mills
do
Printing, publishing, and allied industries
dollars. .
Newspapers
do
Commercial printing- .
__. . _ do Chemicals and allied products
do
Industrial organic chemicals. ._
_
do
Products of petroleum and coal
do
Petroleum refining
do
Rubber products
do
Tires and inner tubes
do
Leather and leather products
. do .
Footwear (except rubber)
do
Nonmanufacturing industries:
Mining:
Metal
do
Anthracite
_,
-- do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
dollars, .
Nonmetallic mining and quarrying
do
Contract construction
.._
do .
Nonbuilding construction
do
Building construction
... . .
do
Transportation and public utilities:
Local railways and bus lines
.. _ _ d o ...
Telephone
do
Telegraph f
do
Gas and electric utilities
do
'
Trade:
Wholesale trade
do
Retail trade (except eating and drinking
places) *
dollars
General-merchandise stores
do
Food and liquor stores
_.
do _.
Automotive and accessories dealers.-.do
Service:
Hotels, year-round
do
Laundries
do
Cleaning and dyeing plants
do
Miscellaneous wage data:
Construction wage rates (ENR):§
Common labor
dol. per hr
Skilled labor
..
do...
Farm wage rates, without board or room (quarterly)
dol per hr
Railway wages (average class I)
do
Road-building wages, common labor
. _do.-_
1.199
1.347
1.330
1.274
1.198
1.340
1.323
1. 269
1.198
1.347
1.332
1. 270
1.211
1.344
1.336
1.256
1.220
1.345
1. 339
1. 258
1.200
1.347
1. 339
1. 260
1.187
.357
.344
.268
1.190
1.360
1.351
1.271
1. 213
1. 364
1.352
1.275
1.218
1. 367
1. 355
1.276
1.230
1.368
1.348
1 284
» 1. 237
v 1.370
1.287
1.491
1. 245
1. 465
1.238
1.469
1.249
1.487
1.270
1.470
1.290
1.496
.296
.506
1.284
1.510
1.277
1.502
1.292
1.492
1.311
1.511
* 1.313
1.072
1.468
1.584
1. 665
1.062
1.398
1.578
1.656
1.061
1.373
1.587
1.667
1.055
1.402
1.597
1.683
1.050
1. 475
1.613
1.709
1.056
1. 511
1.613
1.697
.063
1.511
.634
.721
1.069
1.478
1.639
1.729
1.071
1. 458
1.649
1. 743
1.068
1.487
1.654
1. 745
1.074
1.517
1. 665
1.751
2.043
2.342
1.974
1. 675
1.800
2.048
2. 355
1.980
1.685
1.821
2. 069
2. 395
1.999
1. 705
1.828
2. 066
2.399
2. 003
1.719
1.838
2. 076
2. 400
2. 001
1.727
1.844
2.078
2.407
1.990
1.728
1.846
2. 096
2. 436
2.011
.718
1. 868
2. 094
2. 443
2. 019
1.717
1.872
2.092
2. 443
2.019
1. 729
1. 884
2. 118
2. 476
2. 051
1.738
1.886
2.111
2. 450
2. 036
1.753
1.893
» 2. 134
2.017
2.111
1. 801
2.097
1.304
1.270
2.033
2.126
1.803
2.084
1.308
1.269
2.022
2.145
1.814
2.103
1.311
1.267
2.082
2.174
1.834
2.136
1.310
1.263
2. 132
2.226
1.822
2. 116
1.299
1.248
2. 140
2.248
1.814
2. 106
1.317
1.272
2.167
2.274
1.829
2. 1 19
1.328
1.279
2.153
2.259
1.822
2. 114
1.339
1.288
2. 161
2. 263
1.869
2.174
1.352
1. 303
2.171
2. 273
1.890
2. 205
1. 347
1.297
2.179
2.271
1.898
2 223
} . 351
1. 303
p 2. 176
1.811
2. 226
2.239
1.802
2.225
2.230
1.812
2.243
2.209
1 . 862
2.215
2. 256
1.865
2. 223
2.258
1.849
2. 250
2.225
1.902
2. 250
2.260
1.904
2. 233
2.343
1.946
2. 255
2. 434
1.953
2.477
2. 510
1.989
2.499
2. 472
2.033
1.541
2.251
2. 064
2.292
2.022
1.547
2.242
2.071
2.285
2.018
1.548
2.223
2.049
2.270
2.071
1.557
2.217
2. 055
2.261
2.094
1.569
2. 245
2.066
2.294
2.116
1.596
2.281
2.121
2. 327
2.155
1.620
2.316
2.157
2. 363
2. 133
1.634
2. 348
2.184
2. 395
2.177
1. 636
2. 357
2.180
2. 402
2. 155
1. 623
2. 367
2. 170
2.413
1. 607
1.540
1.614
1.770
1.612
1.545
1.624
1.566
1.769
1.783
1.633
1.559
1.627
1.806
1. 666
1.585
1.626
1.802
1. 674
1.591
1.618
1.807
.686
1.614
1.749
1.833
1.694
1.639
1.765
1.851
1. 706
1.660
1.762
1.883
1. 706
1. 636
1. 761
1.882
1.713
1.644
1.769
1.873
1.649
1.658
1. 657
1.669
1.670
1. 678
1.688
1.701
1.707
1.707
1.715
1.279
1.039
1.389
1.502
1.284
1.029
1.383
1.526
1.305
1.062
1.406
1. 569
1.318
1.069
1.410
1.583
1.314
1. 065
1. 403
1.562
1.312
1.064
1. 399
1. 540
1.324
1.070
1.415
1.563
1.334
1.078
1. 433
1.580
1.333
1. 069
1.440
1. 587
1.312
1.049
1. 439
1. 574
1 . 354
1.089
1 . 454
1 . 590
.856
.929
1.082
.858
.936
1.095
.863
.942
1.105
.862
.946
1.108
. 866
.940
1. 103
.868
.941
1.095
.872
.950
1.109
.878
. 953
1.110
.883
. 957
1.109
.886
.961
1. 115
. S83
.960
1.115
1.664
2.770
1.680
2.774
1.690
2.797
1.706
2.808
1.755
2.849
1.793
2.885
1.803
2.909
1.817
2.921
1.817
2.937
1.817
2.937
1.817
2.942
1.817
2. 946
1.809
.83
1.788
1.38
1.802
1.821
.87
1.835
1.41
1. 851
1. 858
.76
1.853
1.48
1.906
1.873
89
1. 873
1.31 i
1. 902
454
550
454
565
449
591
478
575
492
539
352
896
2,260
1 088
1,062
26
369
803
433
725
2 221
1 102
1 ' 078
23
421
697
r
(8)
P 1. 668
v 1. 7t>8
f 1.352
2.174
1 . 633
2. 366
2.168
2. 409
|
1.821
2.949
FINANCE
BANKING
|
Acceptances and commercial paper outstanding:
Bankers' acceptances
mil. of dol
Commercial paper
do
Agricultural loans outstanding of agencies supervised by the Farm Credit Administration:
Total
mil. of dol
Farm mortgage loans total
do
Federal land banks
do
Land Bank Commissioner
do
Loans to cooperatives
- _ do Short-term credit
do
j
;
>
|
j
i
Bank debits, total (345 centers)!
New York City
.
6 other centers 9
458
534
2, 194
1 050
1,021
30
377
766
i
!
i
do
1
do
1
do_.__|
Federal Reserve banks, condition, end of month:
Assets, total
..
..mil. of dol 1
Reserve bank credit outstanding, total-- -do
Discounts and advances
do
United States Government securities do.-, i
Gold certificate reserves
do
Liabilities, total
do
;
Deposits total
do
'
Member-bank reserve balances -do
!
Excess reserves (estimated)
_ _ do
Federal Reserve notes in circulation
do
|
Reserve ratio
.percent..
r
422
544
357
820
430
510
416
495
337
860
2,313
1 , 074
1,046
27
343
S9H
450
539
350
908
r
122,200 ' 136, 067
136,298 ' 134, 145 r 133, 032 r 139, 759 ' T 137,334
r
f 49, 745
50. 472
' 48, 830 ' 53, 385
42, 778
' 49,131
49, 213
«• 29, 305
' 29, 483 ' 25, 550 '28,611
30, 007 ' 28, 761 r 27, 974
r
r
48,590
23, 270
133
22,514
22, 115
48,590
20 746
19,733
492
24, 371
49.0
49, 213
23, 632
676
22, 363
22, 106
49.213
21,175
19, 940
797
24. 332
48.6
49, 549
24, 152
952
22. 273
22, 103
49, 549
21.412
19. 778
591
24,567 i
48.1 i
48, 939
23, 551
59
22. 906
22. 143
48. 939
20, 559
19.381
-192
24, 826
48.8
50, 252
24, 821
1,270
22, 853
22. 146
50, 252
21,952
20, 323
495
24. 843
47.3
50, 496
25, 216
1,318
23. 146
22. 147
50, 496
22 056
20,411
835
25,119
46.9
50, 479
24, 747
477
23. 694
22, 147
50, 479
21 455
20, 066
319
25.215
47.5
414
775
r
r
150,486 ' 127,665
165.140
r
r
44, 209
54, 893
63, 091
' 32, 322 ' 27, 064 '35,179
r
51,341
25, 855
1 591
23, 575
22 140
51,341
22 273
20 616
620
25, 426
46.4
52, 492
26, 740
1,895
23, 821
22 145
52, 492
22 583
21, 149
795
25. 949
45.6
51,852
25, 825
156
24. 697
21 986
51. 852
21 344
19 950
-570
26, 250
46.2
487
504
408
696
400
511
468
507
386
720
2 253
1 128
1 106
22
365
760
' 145, 986 «• 129,320
153,511
r
r
52, 048
45, 749
53 898
'31,660
' 28, 126 35, 339
51,948
26, 478
1 735
23, 944
21 790
51 , 948
22 515
20 611
614
25. 638
45.3
51 493
26, 194
1 309
23 875
21 480
51,493
21 770
20 511
715
25, 681
45.3
50 202
24, 927
485
23 806
21 367
50, 202
20 421
1Q 322
— 285
25, 560
46.5
r
Revised.
» Preliminary.
f Revised series. See note "f" on p. S-13 regarding coverage of data for telegraph industry. Bank debits have been revised to include additional centers
and to represent debits to demand deposits.
*New series. Data beginning 1947 will be shown later.
§Rates as of April 1, 1953: Common labor, $1.824; skilled labor, $2.950.
9 Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.
« See corresponding note on p. S-ll.
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
May 1953
1952
March
April
June
May
July
1953
August
September
October
November
December
January
February
March
FINANCE—Continued
BANKING—Continued
Federal Reserve weekly reporting member banks,
condition, "Wednesday nearest end of month:
Deposits:
Demand, adjusted
mil. of dol
Demand, except interbank:
Individuals, partnerships, and corporations
mil. of doLStates and political subdivisions
do
United States Government
do _.
Time except interbank, total
do
Individuals, partnerships, and corporations
mil. of doLStates and political subdi visions _ _
do
Interbank (demand and time)
do
Investments total
do
U. S. Government obligations, direct and
guaranteed, total
mil. of dol
Bills
do
Certificates
do
Bonds and guaranteed obligations. _ _ d o - _
Notes
do
Other securities
- do
X/oans (net) total
do
Commercial, industrial, and agricultural. -do
To brokers and dealers in securities
do
Other loans for purchasing or carrying securities
mil. of dol- Real-estate loans
do
Loans of banks
_
_
_
do
Other loans..
.
do
Money and interest rates :<?
Bank rates on business loans:
In 19 cities
percent
New York City
do
7 other northern and eastern cities
do
11 southern and western cities
do
Discount rate (N. Y. F. R. Bank)
do _.
Federal intermediate credit bank loans
do
Federal land bank loans . ._ ..
_do
Open market rates, New York City:
Acceptances, prime, bankers', 90 days
do
Commercial paper, prime, 4-6 months do
Call loans, renewal (N. Y. S. E.)
do....
Time loans 90 days (N. Y. S. E.)
do
Yield on U. S. Govt. securities:
3-month bills
do _.
3-5 year taxable issues
do
•Savings deposits, balance to credit of depositors:
New York State savings banks
mil. of doL.
U S postal savings
do -
51, 162
52, 303
52, 863
51, 708
52, 766
52, 275
52, 317
53, 586
54, 392
54, 648
54, 799
53, 087
51, 802
51, 729
3,710
3,666
16,318
52, 913
53, 152
4,021
2,917
16, 509
52, 818
53, 189
55, 454
3, 559
55, 379
16, 929
16, 974
3,517
17, 262
17, 226
54, 627
3 740
3,271
17 350
52, 785
16, 651
53, 835
3,515
3,561
16, 829
57, 523
6,914
16, 631
53, 253
3, 558
3,144
16, 706
54, 799
3, 561
3,184
16, 383
15, 385
764
15, 444
767
10, 998
38, 563
15, 554
780
10, 895
38, 983
15, 689
763
11, 990
15, 687
779
15, 751
765
16,002
41,019
40, 800
39, 503
15, 883
756
12, 261
39, 093
12,175
16, 027
751
12, 492
40, 215
16, 303
758
13, 612
39, 812
16, 261
765
11, 985
39, 054
16, 374
778
11 799
38, 369
16, 726
777
11, 983
37, 180
31,456
31,719
3,544
3,728
33, 582
33, 267
3,313
31, 932
31, 579
2,513
2,617
20, 121
32, 361
3,610
32, 947
7,514
36, 680
21, 671
1,416
7,386
29, 547
1,701
2,130
19, 881
5, 835
12, 042
38,316
4,070
31, 163
3,415
3, 611
18, 220
5,917
7,153
34, 795
21, 172
1,278
18, 274
5, 874
7,107
34, 770
20, 796
1, 695
677
660
5,657
540
6,021
3, 624
3,684
5,674
438
6,056
18, 524
5, 923
7,264
3,705
3,734
3,885
20, 016
5,947
7,437
34, 863
20, 530
1,885
36, 472
20, 567
659
789
5, 726
759
5,690
2,792
463
6,187
6,393
3,698
4,793
11,274
3,700
20, 288
5,966
7,533
35,315
20, 581
1,988
717
5,764
386
6,436
11,965
2,582
3,211
20, 149
5,990
7,571
35, 685
21,017
1,461
792
5,824
614
6,328
767
5,890
826
3,450
738
39, 747
2,433
20, 057
6,261
37, 238
22, 274
1,437
742
5,945
618
3,784
3,746
32, 502
31, 687
31, 024
2, 445
19, 974
r
20, 004
5,989
2,413
19, 709
5,921
38, 051
22, 949
1,606
7,310
38, 692
23, 206
1,995
38, 287
22, 837
1,536
4,460
6,068
7,268
4,087
2,422
797
725
6,005
5,992
431
6,918
149
7,127
6,537
6,670
1.75
2.72
4.17
1.75
2.71
4.17
3.49
3.29
3.44
3 84
1.75
2.71
4.17
1.75
2.71
4.17
1.75
2.71
4.17
3.51
3.33
3.49
3.84
1.75
2.71
4.17
6,784
3.45
3.23
3.47
3.79
1.75
2.73
4.17
1.75
2.73
4.17
1.75
2.73
4.17
3.51
3.27
3.46
3.90
1.75
2.73
4.17
1.75
2.38
2.38
2.56
1.75
2.35
2.38
2.56
1.75
2.31
2.38
2.56
1.75
2.31
2.38
2.56
1.75
2.31
2.38
2.56
1.75
2.31
2.57
2.61
1.75
2.31
2.63
2.63
1.75
2.31
2.63
2.63
1.75
2.31
2.63
2.63
1.75
2.31
2.63
2.63
1.658
2.02
1.623
1.93
1.710
1.95
1.700
2.04
1.824
2.14
1.876
2.29
1.786
2.28
1.783
2.26
1.862
2.25
2.126
2.30
12,382
2,669
12, 438
2,651
12, 531
12, 678
2,618
12, 730
2,601
12, 786
2, 586
12, 896
12, 943
13, 046
20,609
20, 940
14. 731
6, 186
21, 705
15, 308
6, 539
4,169
1,138
3, 462
22, 446
16, 032
6, 974
22, 751
16, 465
23, 030
16, 728
23, 414
17, 047
24, 050
17, 572
24, 525
1,178
3, 556
4, 433
1,221
3,611
13. 324
13, 725
6, 654
661
1,955
12, 679
6, 144
3, 853
688
1,994
2,554
2,629
2,633
2,572
2,562
3,845
2,337
2,555
13, 257
2, 548
r
3,644
7,367
3,097
2 222
19. 829
r
5 876
7, 345
38 376
22, 697
1,452
790
6,031
478
3,828
3,934
17, 698
7,633
39, 647
23, 269
1,561
808
6,176
788
6,057
7,276
777
7,665
2.00
2.71
4.17
2 00
2 71
4 17
3 54
3.31
3 50
3 90
2.00
2.72
4.17
1.82
2.31
2.63
2.63
1.88
2.31
2.63
2 63
1.88
2.36
2.63
2.63
2.042
2.39
2 018
2.42
2.082
13, 359
* 2, 535
13, 421
T> 2 524
13, 550
P 2, 510
707
7,208
1
2.46
CONSUMER CREDITf
Total short- and intermediate-term consumer credit,
end of month
mil. of dol
Instalment credit, total _ _ _ ._do.. _
Automobile paper
do
Other consumer-goods paper,- _ do _ _
Repair and modernization loans
do
Personal loans
do
By type of holder:
Financial institutions, total
do
Commercial banks
-do
Sales-finance companies
do
Credit unions _ _ _ _ _ -_ do Other
do
Retail outlets, total
Department stores
Furniture stores
Automobile dealers
Other
Noninstalment credit, total
Single-payment loans
Charge accounts
_ _
Service credit
By type of holder:
Financial institutions
Commercial banks
Retail outlets
_
Service credit
_ __
_
14, 550
6,090
4,044
1,079
4,053
1,098
3,337
3,394
12, 002
12, 177
5,808
3,623
647
1,924
5,899
3,662
4,324
6,458
3,690
13, 950
14, 203
2,070
2,090
773
2, 101
2,708
2,740
2,778
2,844
875
700
247
732
do
do ___
_do
do
6,059
6,209
2,007
6,397
6,414
2, 055
2, 535
1,667
2,659
2,661
1,699
do__._
do
-do
do
1,997
1, 758
2,410
1,652
2,007
2, 055
1,777
927
750
282
749
2,054
2,054
1,769
2, 535
1,667
2,659
5,187
4,688
3,809
10, 220
47
4,186
849
105
45
45
9,147
845
183
1,683
1,300
3,659
2,038
870
699
244
735
1,683
4. 539
1,258
7,388
4,669
6,807
4,294
2,548
1,997
2,410
1,652
7,272
4,263
4,111
r
717
do
do
-do
do
do
902
726
262
739
7,200
1,798
2,661
1,699
738
932
766
292
750
759
951
782
295
750
6,286
2,023
2,573
6,302
2,026
2,579
2, 023
1,792
2, 573
1,690
2,026
3,649
4,585
4,050
1,690
1,697
1,792
2, 579
1,697
6,967
4,362
990
796
301
757
7,639
4,871
1,347
3,715
14, 614
7,189
17,927
7, 866
4, 943
1,376
3,742
25, 705
18, 639
8, 110
5,301
1, 386
3,842
r 25, 507 P 25
' 18, 785 P 18
8,273
vg
r 5, 256
P5
1,378
Pi
3,878
v3
15, 665
15, 423
7, 576
789
2,113
14, 955
7, 352
4, 670
798
2,135
2,958
2,972
3, 216
1, 101
900
336
879
r 3, 120
4,523
1,042
821
313
782
1,019
839
324
790
4,833
815
2,199
7,696
4, 930
*>818
2,221
1,068
865
343
r
844
246
863
470
133
378
882
p 25, 675
p 19, 285
P 8, 783
P 5, 162
P 1, 384
P 3, 956
877
808
031
828
210
v 16 337
P 8, 062
P 5, 174
P 2 9R6
P 960
•P 855
P 352
P 819
P 2, 948
P 933
•P 15
P7
T5
P
p2
P860
P 2, 241
P844
P364
P807
6,367
6,478
6,598
2,642
2,776
2,826
1, 663
7, 066
2, 108
3,313
1,645
»• 6, 722
2,129
«• 2, 956
1,637
P
P
P
P
6
2
2
i
383
079
645
659
» 6 390
p 2 142
p 2, 575
p 1, 673
2,033
2,109
1,821
2, 826
1, 663
2,108
1,852
3,313
1, 645
2.129
v 1 858
v 2, 977
» 1 637
P
P
P
P
2
i
2
1
079
839
645
659
P
P
P
P
4,731
4, 151
44
6,350
888
175
939
336
2, 033
1,692
2, 033
1,793
2,642
1,692
2. 033
1,669
1,801
2,776
1,669
2.109
2, 142
1 882
2 575
i 673
FEDERAL GOVERNMENT FINANCE
Budget receipts and expenditures:
Receipts, total
.mil. of dol
Receipts, net
do
Customs
do
Income and employment taxes
.do __
Miscellaneous internal revenue
do
All other receipts
_ ._
.._
_ _ do
10, 800
6,875
6,585
3,355
3,099
52
65
5,232
6 300
5 479
43
5 294
856
107
11 870
10 502
56
10, 719
993
102
5,659
5,704
6,016
6,930
6,742
5,018
7 124
6,070
6,383
5 161
Expenditures, total
do
5 737
689
172
1,518
350
320
183
572
559
Interest on public debt
do
1,146
185
235
407
362
371
365
401
362
Veterans Administration J _ _
___ _do
353
363
386
354
354
3, 414
3,771
3,788
3,683
3,884
2,971
4,008
National defense and related activities:}: --do
3,723
3,302
3, 632
4,081
1,194
1,524
1,365
1,337
2,137
1,502
All other expenditures t
do
1,150
1,725
1. 516
1. 511
1.319
r
Revised.
p Preliminary.
i Beginning January 1, 1953, includes 2l/2 percent bond of March 15, 1956-58, and 2% percent bond of June 15, 1958.
cTFor bond yields see p. S-19.
t Revised series. For data prior to March 1952 and details regarding the revision, see the April 1953 Federal Reserve Bulletin.
^Revisions for July 1950-January 1952 will be shown later.
5 595
311
349
3,501
1.434
6 187
563
364
9,886
44
9,816
825
115
4,323
3,663
828
152
9,796
3,316
48
2,464
949
188
47
3,546
862
130
5,834
877
112
2,227
923
139
3,624
6 003
51
5,024
5 061
51
4,130
842
209
3,789
1.471
SURVEY OF CURRENT BUSINESS
Jlay 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-17
1953
1952
March
April
May
June
August
July
September
262. 682
260, 577
222,216
38,360
2,105
October
November
December
264, 919
262, 820
224, 430
38,390
2,099
267, 432
265, 345
226, 557
38, 788
2,087
267, 301
265, 293
226, 143
39 150
2 098
January
February
March
267, 402
265, 323
226 226
39 097
2 079
267, 584
265 489
226 187
39 302
2 094
264, 485
262, 380
223 025
39 354
2 105
FINANCE—Continued
FEDERAL GOVERNMENT FINANCE— Con.
Public debt and guaranteed obligations:
Gross debt (direct), end of month, total
mil. of doL_
Interest-bearing, total
__.do
Public issues
do
Special issues
do
Non interest bearing
do
Obligations guaranteed by U. S. Government,
end of month
mil. of dol
U. S. Savings bonds:
Amount outstanding, end of month
do
Sales, series E through K
do
Redemptions
do
258, 084
255, 794
219, 301
36, 493
2,290
Government corporations and credit agencies:
Assets, except interagency, total
mil. of dol
Loans receivable total (less reserves)
do
To aid agriculture
do
To aid home owners
do
To aid railroads
do
To aid other industries
do
To aid banks
do
To aid other financial institutions
do
Foreign loans
do
All other
do
Commodities, supplies, and materials
do
"U S Government securities
do
Other securities
do
Land structures and equipment
do
All other assets
do
258, 292
256, 102
219, 356
36, 746
2,191
259, 905
257, 739
220, 540
37, 198
2,167
259, 105
256, 863
219, 124
37, 739
2,242
263, 073
260. 908
222, 963
37, 945
2,165
263, 186
261,060
222, 753
38, 307
2,125
41
44
45
46
34
39
40
45
51
54
48
50
51
57, 814
330
428
57, 772
313
437
57, 739
292
422
57, 807
364
431
57, 827
367
467
57, 868
356
399
57, 871
330
416
57, 903
347
398
57, 958
303
346
58, 046
375
422
58, 237
504
435
58 368
414
368
58 468
440
430
26, 858
14, 422
4 239
2,363
98
473
G)
597
6, 096
731
1,322
2,422
3,451
3, 406
1,835
27, 933
15 913
4 058
2 387
85
464
(i)
653
2
7,617
801
1,350
2, 364
3,438
3 186
1, 683
28, 922
16 890
4 563
2 437
84
480
(i)
716
7,826
933
1,377
2, 371
3,436
3, 212
1,636
29
17
5
2
945
826
070
603
82
516
(i)
864
7, 736
1 095
1,280
2 421
3,429
3 213
1,775
do
2,499
2 472
2,774
3 111
do
do
do
38
1,214
1,247
44
1 228
1,200
39
1,301
1,434
53
1 330
1,728
Privately owned interest
do
U. S. Government interest _ _ _ ___ _ . do
349
24, 010
357
25, 104
367
25, 780
378
26. 456
Liabilities except interagency total
Bonds, notes, and debentures:
Guaranteed by the United States
Other
Other liabilities
Reconstruction Finance Corporation, loans and
securities (at cost) outstanding, end of month,
tot aid1 mil. of dol
Industrial and commercial enterprises, including
national defense cf
mil. of dol
Financial institutions
do
Railroads
..
do
States, territories, and political subdivisions .do
Republic of the Philippines
do
Mortgages purchased, _
..
_do
Other loans
do
800
795
778
754
751
753
769
787
790
793
786
786
795
432
73
96
19
57
77
46
430
71
95
19
57
76
46
420
68
95
16
57
76
46
425
55
83
16
54
75
46
424
54
82
16
54
74
47
427
53
82
16
54
74
47
444
53
82
16
54
73
47
458
51
82
22
54
73
47
464
50
80
22
54
72
47
472
47
80
22
54
72
47
469
47
80
22
51
71
46
472
46
77
22
51
71
47
482
46
77
22
51
70
47
69, 250
62, 125
69, 604
62, 500
69, 959
62, 789
70. 334
63, 083
70, 774
63, 590
71, 123
63, 855
71,578
64, 205
72, 034
64, 665
72, 415
65, 010
73, 034
* 65, 345
73, 621
65, 948
73 943
66, 269
74 295
66, 598
01, 262
>• 38, 618
61, 237
38, 587
11. 546
9,409
10, 961
3, 185
12, 895
773
16. 583
1, 406
15, 176
2. 226
1,471
1,597
61, 547
38, 692
11, 275
9, 151
11, 030
3, 196
13, 190
780
16, 719
1,423
15, 296
2, 236
1,483
1, 637
61, 857
38, 780
11,096
8,989
11, 066
3, 238
13, 380
847
16 852
1,439
15 413
£246
1 498
1, 633
62, 201
39, 079
11,134
9.007
11, 109
3, 251
13, 585
750
16, 976
1,454
15, 521
2,254
1, 510
1, 634
62, 495
39, 184
11,131
9,025
11,184
3,253
13,615
758
17, 082
1 , 463
15,619
2, 262
1, 520
1,688
62, 808
39, 310
11,127
9,044
11,212
3,281
13, 690
820
17, 188
1,471
15,717
2,270
1,526
1,694
63, 159
39, 565
10, 924
8,887
11,346
3,301
13, 994
803
17,311
1,481
15, 830
2,276
1. 540
1,664
63, 479
39, 757
10. 967
8, 935
11, 362
3, 314
14, 115
767
17,411
1, 490
15, 921
2.280
1, 550
1,714
64, 092
39, 915
10. 867
8, 837
11, 409
3. 336
14, 304
872
17, 583
1, 503
16, 080
2,284
1 , 655
1,784
64, 797
40, 473
10, 984
8, 926
11, 552
3, 397
14,541
827
17, 774
1, 512
16, 262
2,310
1,658
1,756
65 084
40 630
10, 983
8 908
11 610
3 402
14 634
775
17 894
1 524
16 370
2 318
1 663
1 804
65 362
40 778
10, 791
8 711
11 659
3 403
14 925
750
18 038
1 541
16 496
2 329
1 669
1 797
2.571
339
497
1, 735
115
406
367
142
209
69
168
63
197
2, 803
582
537
1,684
111
388
349
147
205
67
161
64
191
2,589
442
464
1, 683
113
382
355
148
203
69
161
60
192
2, 442
351
420
1,671
115
377
358
148
198
67
156
62
189
2,319
312
442
1, 565
99
334
336
141
190
64
154
61
187
2,504
440
470
1,594
104
347
340
140
199
67
156
59
182
2, 661
346
499
1,816
122
411
384
160
219
77
162
68
212
2, 516
373
474
1,669
113
398
356
136
199
71
150
61
184
3,319
950
421
1,948
124
426
429
172
230
84
174
78
230
2,350
252
432
1, 666
124
424
358
137
177
63
151
50
182
2, 617
402
513
1,702
117
412
371
140
193
67
156
56
191
3,337
619
560
2,158
141
519
460
174
245
91
20ft
78
250
304. 060
141. 626
32, 337
7,874
28, 595
45, 127
48, 501
417, 402
168, 314
40, 498
9,244
28, 870
53, 198
117, 278
399, 041
169, 068
42, 909
9, 851
42, 973
53, 217
81, 023
343, 743
158, 593
37, 059
8, 362
32, 946
49, 000
57, 783
410,421
182, 781
40, 384
9,479
35, 193
63, 630
78, 954
LIFE INSURANCE
Assets, admitted:
All companies (Institute of Life Insurance), estimated totalt
„
mil. of dol
Securities and mortgages!
_ _ _ do
49 companies (Life Insurance Association of
America) total
mil of dol
Bonds and stocks, book value, total
do
Govt. (domestic and foreign), total
do
U. S. Government
- _ do
Public utilitv
do
Railroad
- - _ _ do
Other
do
Cash
_ _ do _ _ _
M^ortirage loans total
do
Farm
_ _ _ _ _ _ d o ___
Other
do
Policv loans and premium notes
__ --do
Ronl-cstate holdings
do
Other admitted assets
do
Life Insurance Agency Management Association:
Insurance written (new paid -for insurance):
Value, estimated total§
mil. of dol
Group and wholesale§
do
Industrial §
do
Ordinarv, total
_ __ do.
New En eland
___
_ _ do
Middle Atlantic
do
East North Central
clo
West North Central
do
South Atlantic
__
do
East South Central
do
West South Central
_.
_ -do
Mountain
do Pacific
do
r
r 11, 627
r
9, 407
* 11,017
••3,219
12, 755
r
789
»• 16. 516
1,388
>• 15, 128
r
2, 238
r
1, 465
r
r 1,635
2,495
246
530
1,719
113
384
363
144
207
72
178
69
190
Institute of Life Insurance:
Payments to policyholders and beneficiaries,
339, 557
318, 461 322, 636
344, 261
336, 714
339, 822
338, 501
366, 424
estimated total
__ _ _ . _ _ thous. of dol
154, 860
154, 506
145, 944
148, 980
146, 410
155, 851
149. 388
150, 656
Death claim payments
do
39, 111
35, 126
33, 809
38.111
37, 479
31, 584
41, 738
34, 400
Matured endowments^
do
9,220
8,845
8,229
8,651
8,351
8, 666
8,367
8,253
Disability paymen ts
do
31, 605
29. 175
29, 886
30, 826
30, 671
31, 177
31, 200
28, 532
Annuitv payments §
___
_ _ . do
52, 916
55, 895
52, 947
47, 978
58, 473
50, 453
57, 169
48, 768
Surrender values §
do
57, 194
55, 142
65, 435
51, 845
54, 840
72, 489
58, 952
Policy dividends
_-_do___
56, 273
r
2
Revised.
i Less than $500,000.
Beginning June 30, 1952, outstanding loans of the Mutual Security Agency are included,
cf Includes loans under the Defense Production Act of 1950.
JRevisions for January-July 1950 are shown in corresponding note in the October 1951 SURVEY. Other revisions are as follows: (mil dol.)
mortgages—December 1950, 57,244; 1951—January, 57,609; October, 60,332; November, 60,498; December, 60,912.
§Revisions beginning 1946 for insurance written and for 1949 and 1950 for annuity payments and surrender values will be shown later.
Total assets, December 1950, 63,688; securities and
SURVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
MJIV ]9.~>3
19 52
March
April
May
June
July
1953
August
September
October
November
December
554, 748
70, 958
67, 806
46 061
68, 809
847, 255
89, 441
173, 680
66 567
615,102
301,114
107,251
410,316
606, 446
79 568
100, 351
70 794
71, 220
284, 513
23, 337
23, 186
1,872
38,978
January
aryU~
March
FINANCE— Continued
LIFE INSURANCE—Continued
Life Insurance Association of America:
Premium income (39 cos.), total. __thous. of doL.
Accident and health
do
Annuities
do
Industrial
Ordinary
_
-- do
.do.- -
638, 661
63, 996
84, 349
52 941
88, 05 1
349, 324
511,473
61, 638
64, 680
46 677
62, 142
276, 336
574, 046
65, 612
65, 349
46 683
85, 525
310, 877
608, 373
23, 296
27, 084
61,000
70. 838
46 791
88,711
341, 033
539, 924
62, 594
85, 732
52 221
56, 801
282, 576
551, 521
65, 472
66, 852
43 687
79, 894
295, 616
594, 231
66, 402
69. 008
47 491
85, 313
326, 017
555, 400
67, 052
76, 979
47 442
71, 553
292, 374
23, 350
-31, 394
1, 580
26, 047
67, 299
39, 886
13, 062
23, 344
-32, 620
2,861
23, 342
—13, 776
1,244
34, 590
66, 394
23, 339
-92, 430
6,498
13, 408
6,212
236
216
382
682, 325
66 738
81,624
77,514
48 531
75, 359
342, 850
94, 784
58 168
84, 593
367, 266
22, 986
22. 662
22, 563
13, 697
1, 653
1,827
13, 043
MONETARY STATISTICS
Gold and silver:
Gold:
23, 290
Monetary stock, U. S
mil. of dol..
Net release from earmark!
thous. of doL- -103,092
1, 473
Exports
do
158,600
Imports
do
63 285
Production reported monthly total
do
38, 830
Africa
do
12, 765
Canada
do
4,647
United States
do
Silver:
142
Exports
do
8,126
Imports
do
.880
Price at New York
dol. per fine oz__
Production:
2,081
Canada
thous of fine oz
5,318
M"exico
Q"O
3,
854
United States
do
Money supply:
28,
473
Currency in circulation
..mil. of dol..
192, 300
Deposits and currency, total
do
2,200
Foreign banks deposits, net
.- do
7,100
U S Government balances
do
182, 900
Deposits (adjusted) and currency, total do
94, 800
Demand deposits adjusted
do
62, 400
Time deposits
do
25, 700
Currency outside banks
do
Turn-over of demand deposits except interbank and
U. 8. Government, annual rate:
34.0
New York City
ratio of debits to deposits
22.0
Other leading cities
do
23, 297
-75, 357
1, 313
97, 932
63, 319
38, 557
12, 710
4,961
30, 060
66, 202
40, 033
12, 806
5,147
23, 346
19, 266
3, 445
40, 051
63, 237
38, 739
12, 569
5,461
587
1,535
215
.880
.854
2,529
4,768
4,043
2,273
28, 464
192, 200
28, 767
192, 900
4,678
2,824
4,680
3,199
3,273
5,038
.829
1,882
6, 300
184, 400
95, 300
63, 000
26, 000
34.4
21.1
34.3
21.3
38.6
22.2
4,877
39,411
86, 465
.833
2,220
1,787
3,107
6,769
13, 600
6,031
38, 958
13, 697
5, 883
411
258
270
40, 114
14, 122
4,499
.833
-29.004 -263, 189 -171,747 -324. 127 -106,511
1,580
5,587
3, 813
3,867
7,778
5,009
.833
.833
1,854
' 2, 427
1, 809
3, 858
3, 307
2,921
2,272
3,235
9,525
3,682
3,877
2,998
28 978
197, 200
29, 293
197, 000
29, 419
197, 900
29, 644
199, 900
30, 236
202, 700
3,976
3,292
183, 800
95, 100
62, 700
25, 900
2,300
5,733
.828
29, 026
194, 960
2, 319
7, 737
1S4, 904
94, 754
63, 676
26, 474
2,200
6,300
6,403
5,947
65, 768
39, 673
13, 028
2,988
2,600
8,900
2,600
8,200
2,500
2,500
7,200
185, 800
95, 700
63, 800
26, 200
186, 200
95, 800
64, 100
26, 300
8,100
187, 400
96, 400
64, 500
26, 600
190, 200
98, 600
64, 900
26, 700
35.1
20.7
31.4
20.2
34.6
21.5
34.4
21.3
2,500
8,600
191,600
99, 400
64, 800
27, 400
36.3
22.8
4,485
4,340
.833
1,318
10, 905
.845
7,272
2, 479
2,459
4,578
r
3,863
3,093
3, 362
506
. 853
3,112
30, 433
29, 793
29, 691
' 204, 220 P 202, 100 v 201, 000
' 2, 501 P 2, 500
P 2, 300
p 7, 100
'6,918
p 6, 200
r 194, 801 P 193, 300 p 191, 600
r
r
98, 300
101,
508
v
100,
500
r
65, 799
P 66, 100 p 66, 400
' 27, 494 P 26, 800 p 26. 900
41.9
23.1
36.2
22. G
.853
29. 754
P 200, 600
P 2, 400
P 7, 100
P 191,000
p 97. 400
P 66, 800
P 26. 900
35. 7
99 9
PROFITS AND DIVIDENDS (QUARTERLY)
Manufacturing corporations (Federal Reserve):!
Profits after taxes total (T)0 corps ) mil of dol
Durable goods total (106 corps )
do
Machinery (27 corps )
c\
1ST
F
rl
bl pn c\ t til (Q4 PO TV ")
H Ir rl rJ
d t f98
do
fin
V C\
Ch m* 1 a c\ 11' rfnrnrh prYf9firorn'" } do
p , ,
fi
'
/1 4
1
1
Dividends total (200 corps )
do
Nondurable goods (94 corps )
do
Electric utilities, profits after taxes (Fed. Res.H
815
501
220
81
170
314
40
108
129
624
338
29
80
191
287
42
105
111
678
370
99
90
143
308
48
108
115
927
580
217
128
191
347
45
128
133
482
273
210
476
270
206
475
270
205
547
305
242
257
9J4
207
244
Railways and telephone cos. (see p. S-23).
SECURITIES ISSUED
Commercial and Financial Chronicle:
Securities issued, by type of security, total (new
capital and refunding)
mil of dol
New capital total
do
Domestic total
do
Corporate
do
Municipal State etc
Foreign
Refunding, total
Domestic total
Corporate
Federal agencies
Municipal State etc
do
do
do
do
do
do
do
1,220
1,139
994
812
38
144
145
81
81
13
63
4
1,576
1, 273
1,237
704
80
452
36
303
299
40
257
2
i 1,584
1
1, 278
1,109
677
56
376
119
306
306
151
144
11
1,409
1,251
1,239
587
38
615
11
r
159
155
r
4
141
11
Securities and Exchange Commission:!
2,494
1,649
2,452
2,336
Estimated gross proceeds, total
- do By type of security:
1,425
2,139
2, 255
2,248
Bonds and notes, total
_ . _ do 771
870
652
748
Corporate do - 112
135
163
161
Common stock
_
_ do _
82
84
61
63
Preferred stock
do
By type of issuer:
848
972
967
1,116
Corporate total
. - - - do
291
373
353
570
Manufacturing
do
355
271
281
400
Public utility
do
52
12
34
120
Railroad
_
do - 26
29
48
Communication
do
57
70
20
40
Real estate and
financial
do _ 1,603
677
1,378
1,368
Noncorporate, total
do
515
722
928
978
U S Government
- do ..
145
624
396
397
State and municipal
do
'1 Revised.
p Preliminary.
Includes International Bank securities not shown separately.
§Or increase in earmarked gold (—).
{Revisions for 1939—1st quarter of 1951 for manufacturing corporations and electric utilities and
962
808
800
363
0
437
9
154
154
72
79
2
1
1
873
629
601
292
130
179
28
'311
-•31]
'90
172
49
1,520
1, 197
1, 197
758
46
394
0
323
323
44
269
9
2,046
1,135
2,137
1,619
1,463
1, 604
1,869
979
1,170
8
1,067
343
48
21
1,896
725
181
59
1,447
351
116
56
1,298
457
123
42
1, 425
517
116
62
966
338
220
58
97
51
1,171
547
389
522
135
249
40
3
65
1,096
611
376
622
152
255
50
7
80
841
494
347
696
205
216
32
15
144
908
503
405
1,519
1,393
1,381
1,137
20
224
12
126
126
50
74
2
810
461
461
202
56
203
0
349
349
153
188
7
6,441
1,175
1,339
6, 251
1, 309
157
33
1,095
348
50
29
1,257
381
45
37
1,309
356
256
46
495
69
5, 132
428
135
107
95
22
14
747
544
201
463
187
171
12
19
26
876
444
428
1,156
659
349
15
27
60
890
531
294
4,898
226
1, 381
1, 225
1,157
852
o
305
8
r
!58
r
158
"82
72
4
412
198
48
27
49
54
724
480
219 |
for January-March 1951 for SEC data will be shown later.
SURVEY OF CURRENT BUSINESS
Slav 105:
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-19
1952
March
April
May
June
July
1953
August
September
October
November
December
January
February
March
FINANCE—Continued
Securities and Exchange Commissions—Continued
New corporate security issues:
954
Estimated net proceeds, total
mil. of dol..
Proposed uses of proceeds:
875
New monev total
, do
655
Plant and equipment
do
221
Working capital
... _ _
do
60
Retirement of debt and stock, total, .do
15
Funded debt
do
45
Other debt
do
Preferred stock
.
. _ do, . .
0)
19
Other purposes
do
Proposed uses by major groups:
366
Manufacturing total
do
336
New monev
do
20
Retirement of debt and stock
do
393
Public utility total
do
365
New monev
- - do, .
28
Retirement of debt and stock
do
12
Railroad, total
do.
12
New money
do
0
Retirement of debt and stock .. ..do
6
Communication total
do
6
New money
.
do
0)
Retirement of debt and stock . . . _ do, .
20
Real estate and financial, total
do
15
New money
.. ..do.
2
Retirement of debt and stock. . _ _ _ _ d o
State and municipal issues (Bond Buyer):
Long-term
thous . of dol- . 150, 618
200, 194
Short-term
.
_ do
951
1,097
836
1,290
420
456
1,141
406
955
513
610
684
844
613
232
83
9
70
3
24
925
735
189
163
126
38
0
9
747
553
194
84
38
46
0
5
1,234
1.053
180
48
34
14
0
8
280
215
65
130
119
5
5
10
386
288
98
63
45
14
3
7
875
615
260
255
91
161
3
11
332
226
106
47
31
11
5
27
859
742
117
58
31
26
1
38
466
379
87
42
18
22
2
5
554
368
186
50
29
20
1
7
630
438
192
37
10
24
3
17
350
329
15
265
256
7
34
34
0
47
45
3
56
55
0
559
502
56
276
256
20
119
41
78
26
26
0
40
34
5
287
255
31
349
331
17
51
16
35
29
29
0
70
68
0
351
329
21
250
248
1
46
46
0
493
493
0
68
41
24
132
89
36
105
102
3
94
10
85
22
22
0
14
9
4
185
131
53
168
165
0
12
12
0
18
18
650
505
137
345
232
114
15
13
1
26
26
1
57
57
196
149
27
48
48
0
27
15
12
49
47
1
53
44
132
115
15
246
240
6
39
26
14
3
3
0
64
62
1
148
131
14
251
248
3
49
31
18
7
7
203
178
24
212
205
7
32
32
r>
334
263
39
217
215
2
57
42
15
97
96
(i)
51
49
1
456, 005
172, 674
406, 484
232, 726
637, 232
120, 022
245, 344
266, 630
211,533
232, 288
473, 750
96, 518
309, 105
16], 739
229, 897
24, 376
403, 043
292 085
391,872
294 085
191
286
219
364
198
286
229
378
233
401
233
349
210
250
257
229
226
265
288
291
230
254
262
304
198
252
1,293
756
734
1,315
756
818
1,312
725
847
365
1,327
708
912
1,387
692
1J26
1, 338
675
926
1, 333
692
891
1, 316
692
860
1.347
706
878
343
1,362
724
920
1, 345
732
907
1,350
730
871
1, 513
744
966
0)
25
16
8
0)
o
79
78
0
' 389, 729
r
110, 843
o
15
15
0
142
129
1
405, 077
330, 919
COMMODITY MARKETS
Volume of trading in grain futures:
Corn
.,
.
Wheat . -.
mil. of bu__
do
SECURITY MARKETS
Brokers' Balances (N. Y. S. E. Mem hers
Carrying Margin Accounts)
Cash on hand and in banks
Customers' debit balances (net)
Customers' free credit balances
Monev borrowed
Bonds
mil of dol
... do _.
do
do
Prices:
Average price of all listed bonds (N. Y. S. E.),
98.82
98. 61
98.87
98.26
98.43
98.14
98. 05
97.81
98.19
97.46
total §
dollars
97 66
97 15
96. 57
99. 31
99.36
98.75
99.10
98.88
98.62
98. 57
98. 50
98. 25
97.87
97. 56
96. 99
98. 09
Domestic
. .
- do
73. 69
73.75
73. 70
73.07
75. 52
76. 12
76.11
75.97
75.84
Foreign
do
75.32
74. 95
75 81
75 50
Standard and Poor's Corporation:
Industrial, utility, and railroad (A1+ issues):
115.9
110.3
116. 1
116.2
116. 0
115.8
114. 7
115.2
115.3
115.7
Composite (17 bonds)
dol. per $100 bond_.
114.5
113.4
114.0
131.9
131.4
132.7
130. 9
130.4
128.6
125. 4
126. 6
125.3
125.0
121 6
Domestic municipal (15 bonds)
do
124 0
122 8
r
r
2
97.
95
98.
32
96.87
98.
91
98.40
97.09
96.96
96.86
96.44
96. 32
94. ;u
U. S. Treasury bonds, taxable
do
95 68
95 28
Sales:
Total, excluding U. S. Government bonds:
All registered exchanges:
59, 014
61, 104
52, 964
51, 113
51, 585
100, 320
76, 955
73,183
94, 402
56, 237
76, 726
Market value
. ..
thous. of dol .
75, 146
70, 039
71, 124
59, 745
72, 093
62, 057
5S, 329
83, 953
101, 867
61,325
85, 250
Face value
do
105, 865
85 722
76, 831
90 067
New York Stock Exchange:
49, 640
57, 456
59, 632
51,432
50, 210
71, 599
98, 416
54, 113
74, 892
92, 009
Market value
do
73 014
74 547
68, 483
67, 299
69, 663
59, 968
57, 821
56, 686
81, 988
99, 742
102, 843
58, 855
Face value
___
.
. . do
82, 455
82, 187
74, 823
85, 245
New York Stock Exchange, exclusive of stopped
59, 323
58,123
62, 055
61, 624
62, 242
61, 127
78, 042
59, 136
69, 082
86 042
sales face value total §
thous of dol
80 397
74 757
60 288
0
0
0
30
1
0
26
o
0
45
0
0
25
U. S. Government
do
61,
624
59,
323
58,
093
62, 055
62, 242
59. 136
61, 127
78,016
69, 057
Other than U. S. Government, total §. _ _ _ d o
85, 997
80, 397
74, 756
60, 288
55, 621
53, 321
55, 580
52, 190
55, 573
71, 608
52, 793
61, 194
79, 101
53, 624
73 417
65, 013
Domestic
do
52, 940
5,918
5, 933
5,858
6, 410
6, 544
6,341
6, 269
7,395
Foreign
do
6,819
7,777
6,912
7,324
9, 650
Value, issues listed on N. Y. S. E.:
97,
355
96,
699
97,311
95,
964
100,
273
100, 551
100, 537
99, 712
100, 349
100, 256
99, 535
Market value, total, all issues§
mil. of dol..
100, 116
100, 117
95, 625
95, 583
94, 238
94, 978
98, 401
98, 621
98. 656
98. 494
97, 838
98, 276
98, 200
97, 638
Domestic
.. ..
do
98, 211
1,347
1,345
1,338
1,343
1,439
1,440
1,448
1,492
1,447
1.430
Foreign
. do
1, 425
1, 432
1,428
98, 466
97,315
98, 415
98, 474
101,871
102, 405
102, 444
102, 341
102,315
102, 502
Face value, total, all issues §
do
102 510
103, 066
103 055
96, 239
96, 249
95, 092
96, 183
99, 516
99, 999
100, 091
100, 025
99, 963
99, 993
100, 109
100, 665
Domestic .
_.
.
do.. .
100, 666
1,827
1, 825
1,823
1,831
1,905
1,896
1, 902
1,967
1,902
Foreign
do
1,898
1,891
1,901
1,890
Yields:
3.16
3.16
3.19
3.17
3.17
3.20
3.18
Domestic corporate (Moody's)
percent. .
3.19
3.22
3. 19
3.22
3.31
3.26
By ratings:
2.93
2.93
2.94
2.96
2.95
2 94
2.95
2 98
2 97
Aaa
do
3 01
3 02
3 12
3 07
3.01
3.00
3.03
3.03
3.04
3.06
3.06
Aa
.
. do
3.05
3.07
3.08
3 14
3. 18
3 09
3.20
3.20
3.20
3.24
3.19
3.24
3.22
3.21
A
..
do
3.24
3.22
3 36
3 25
3 30
3.49
3.51
3.50
3.50
Baa._ .. ..
__
do
3. 53
3.51
3.50
3. 51
3.52
3.54
3. 57
3 51
3 53
By groups:
2.99
2.97
2.98
3.05
2.97
2.99
Industrialdo
3. 05
3.00
3. 04
3.02
3 11
3 07
3. 1(5
3.19
3.19
3.21
3.20
3.20
3. 19
3 20
Public utility
do
3 19
3 20
3 22
3 23
3 33
3 29
3.32
3.32
3.31
3. 36
3.37
3.34
Railroad
do
3.33
3.39
3.34
3.36
3 43
3 36
3 39
.Domestic municipal:
2.15
2.05
2.03
2.10
Bond Buyer (20 bonds)
do
2.37
2.15
2.28
2.38
2.38
2.34
2 46
2 63
2 65
2.01
2.05
2.07
2.10
Standard and Poor's Corp. (15 bonds)... do
2.40
2.12
2.42
2. 40
2.22
2.61
2.47
2.54
2.33
22.64
2.57
2.61
2.70
2.71
2.61
U. S. Treasury bonds, taxable
do
2.74
2.75
2.80
2.83
2.89
2.70
2.71
r
2
Revised.
' Less than $500,000.
Beginning April 1, 1952, series based on taxable bonds due or callable in 12 years and over; prior thereto, 15 years and over.
{Revisions for January-March 1951 will be shown later.
§Sales and value figures include bonds of the International Bank for Reconstruction and Development not shown separately; these bonds are included also in computing average price of
all listed bonds.
SURVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
May 1053
1952
March
April
May
June
July
1953
August
Septem-
ber
October
Novem-
ber
Decem-
ber
January
Febru-
March
ary
FINANCE—Continued
SECURITY MARKETS— Continued
Stocks
Cash dividend payments publicly reported:!
Total dividend payments
mil. of dol
Finance _
_
_
_
do
Manufacturing
. . __
do. _
Mining
do
Public utilities:
Communications
do
Heat light, and power
do
Railroad
__
_
do Trade
__
do
Miscellaneous
do
Dividend rates, prices, yields, and earnings, 200
common stocks (Moody 's):
Dividends per share, annual rate (200 stocks)
dollars- Industrial (125 stocks)
_ _ do
Public utility (24 stocks)
_
do
Railroad (25 stocks)
do
Bank (15 stocks)
do
Insurance (10 stocks)
do
1,202 7
75.7
808.2
89 6
540.0
95.3
196.5
7.9
234.7
45.2
116. 7
3.7
1, 178. 1
80.9
761.4
89. 7
546 7
128.6
199.2
6 7
231 5
51 0
105. 5
3 3
1 166 5
78 2
763 5
87 9
540
105
203
8
5
2
5
0
253
64
115
2
o
7
2
1
1 736 1
195 2
1 045 5
141 9
39 2
74.9
50.7
38.4
26.0
90.1
60.2
24.1
53.9
12.0
.8
50.1
3.3
10.5
4.4
43 0
76. 5
56.0
45.7
24.9
89 8
58 7
12.2
38.6
12 9
g
49 7
6 4
10.3
4 5
46 9
76 8
42 4
47.2
23 6
95
60
14
40
13
0
9
6
3
0
1
52
2
8
6
0
2
9
1
8
49
92
88
79
43
3.92
4.19
1.91
2 65
2.60
2,84
3.94
4.21
1.91
2.65
2.60
2.84
3.95
4.22
1.91
2 67
2.63
2.84
3.96
4.22
1.91
2.69
2.64
2.88
3.96
4 22
1.91
2 69
2.64
2.88
3.96
4.22
1.92
2 71
2.64
2.87
3.95
4 20
1.92
2 81
2' 68
2 87
3.95
4 18
1 92
2 85
2 68
2 88
Price per share, end of month (200 stocks) __do
Industrial (125 stocks)
- __ _ do Public utility (24 stocks)
_ - do. .
Railroad (25 stocks)
do
71.35
75.63
34. 73
45.28
68.29
71.73
33.97
43.80
69.96
73. 59
34.57
45.49
72.61
77.01
34. 65
47.68
73. 47
78.01
35.09
47.97
72.57
76.52
36.15
47.70
71.09
74 58
36. 34
46 57
Yield (200 stocks)
percent-Industrial (125 stocks). _
.- --do _
Public utility (24 stocks)
do....
Railroad (25 stocks)
_ __ do Bank (15 stocks)
do
Insurance (10 stocks)
do
Earnings per share (at annual rate), quarterly:
Industrial (125 stocks)
dollars
Public utility (24 stocks)
do
Railroad (25 "stocks)
do
Dividend vields, preferred stocks, 11 high-grade
(Standard and Poor's Corp.)
percent..
Prices:
Dow- Jones & Co., Inc. (65 stocks) -dol. per share- _
Industrial (30 stocks)
._
___
do._ _
Public utility (15 stocks)
do _
Railroad (20 stocks)
do
Standard arid Poor's Corporation:
Industrial, public utility, and railroad:§
Combined index (480 stocks) --.1935-39= 100- Industrial total (420 stocks)
do _ _ .
Capital goods (129 stocks)
do
Consumers' goods (195 stocks)
do
Public utility (40 stocks)
- ..do
Railroad (20 "stocks)
do
Banks N Y C (16 stocks)
- _ _ _ do
Fire and marine insurance (17 stocks)
do
Sales (Securities and Exchange Commission) :
Total on all registered exchanges:
Market value
-.- mil. of dol
Shares sold
thousands. _
On New York Stock Exchange:
Market value
mil. of dol_.
Shares sold
- thousandsExclusive of odd lot and stopped sales
(N Y Times)
-thousands..
Shares listed, New York Stock Exchange:
Market value, all listed shares
mil. of dol._
Number of shares listed
millions. _
5.49
5.54
5.50
5.85
4.41
3.37
5.77
5.87
5.62
6.05
4.58
3.41
5.65
5.73
5.53
5.87
4.57
3.30
5.45
5.48
5.51
5.64
4.56
3.18
5.39
5.41
5.44
5.61
4.52
3.21
5.46
5.51
5.31
5. 68
4.39
3.15
5.56
5. 63
5.28
6.03
4 23
3. 18
6 61
2.49
5.77
6 79
2.47
5 41
1
6
5
0
181
44
65
2
3
9
0
9
1 251 1
81 4
821 9
86 9
7
6
4
2
6
95 7
64 3
18 2
57 0
11 8
42
6
15
3
9
o
9
5
2
46
89
57
40
27
3.93
4 17
1 92
2 87
2 66
2 98
3.93
4 16
1 92
2 g7
2 75
2 98
3.95
4 16
1 93
2 88
2 84
2 99
3.95
4 16
1 94
2 91
2 86
3 01
3.97
4 16
1.95
3 01
2 89
3 07
71.02
74 35
36 25
46 43
74.42
78 20
37 36
49 74
76.66
80 89
37 85
51 66
76.69
80 37
38 40
52 19
75. 60
79 15
38 21
51 17
74.13
77 64
37.81
49 56
5.56
5 62
5.30
6 14
4 29
3 15
5.28
5 33
5.14
5 77
4 19
3 10
5.13
5 14
5.07
5 56
4 18
2 99
5.15
5 18
5.03
5 52
4 29
3 07
5.22
5 26
5.08
5 69
4 32
3 17
5.36
5.36
5.16
6.07
4 44
3.29
6 76
2 61
7 86
4.16
4.07
4.04
4.04
4.09
4.12
4.12
4.16
4.12
4.11
4.16
4.21
4.23
100. 02
264. 48
49.80
89.55
100. 24
262. 55
49.13
92.19
100. 87
261. 61
49.29
94.61
104. 26
268. 39
49.81
100. 30
106. 25
276. 04
49.86
101.85
107. 10
276. 70
50. 75
102. 95
105. 29
272. 40
50.30
100 43
103. 92
267. 77
49 59
99 83
107. 25
276. 37
51 04
103 19
111. 67
285. 95
52 06
109 85
112. 25
288. 44
52 20
109 99
111.21
283. 94
52 57
109 03
112.41
286. 79
53 19
110 94
185.3
201.4
184.4
167.2
117.7
161.3
113.3
199.6
183.7
199.4
180.7
166.3
116. 7
164. 6
110.9
198. 4
183.7
199.2
181.7
166.1
117.1
166.9
111.1
203.7
187.6
203.9
186. 9
168.8
116.2
173.7
111.6
211.7
192.1
209. 7
192.7
173.5
116. 9
175.2
112.8
215.4
191.1
207.8
191.4
174.8
118.6
175.3
114.7
215.4
188.2
204.2
187. 6
172.8
118.5
171.1
117.6
214.5
183.4
198.4
182 6
169.5
117.4
166. 9
120.1
215.2
189.8
205.5
190 2
175. 7
120.9
172.4
121.5
223. 1
197.0
213.7
198 5
183.2
123.3
184. 6
125. 1
230. 5
197.6
214.3
200 4
184.7
124.0
185 2
128. 3
231.0
195. 9
212 0
197 4
183. 4
124.4
181 4
128 2
223.8
198.0
214 5
199 8
185. 3
124.9
184 5
128. 1
223.9
1,451
64, 450
1,647
66,676
1,262
59, 431
1,285
56, 845
1,317
61, 433
1,154
41. 576
1,198
48, 989
1,316
62, 389
1,331
56, 903
1, 906
78. 990
1, 661
74, 299
1,376
53 534
1,906
75 473
1,219
43, 464
1,373
41, 601
1,077
43, 060
1,098
42, 325
1,122
45,916
978
29, 433
1,012
35, 165
1,121
47, 653
1, 145
43, 340
1.647
57, 885
1,417
55, 897
1. 173
38, 540
1 616
51,812
29, 513
28, 963
23, 586
25, 516
24, 115
20, 905
24, 135
25, 981
30, 239
40,516
34, 087
30, 209
42, 472
113,099
2,644
107, 848
2,661
110,690
2,691
114, 489
2,706
115,825
2.728
114,506
2,736
112, 633
2,769
112,152
2,773
117,363
2,777
120, 536
2, 788
120, 483
2,802 i
119, 749
2, 814
118, 223
2,819
1
(QUARTERLY)
Exports of goods and services total
Merchandise adjusted
Income on investments abroad
Other services
mil of dol
do
do
do
5,347
4,177
422
748
5,322
4,088
454
780
4 604
3,436
461
707
5 428
4, 158
574
696
Imports of goods and services, total
Merchandise adjusted
Income on foreign investments in U. S
Other services
do
do
do
do
3,867
2 962
89
816
3,867
2,844
109
914
3,911
2,689
99
1, 123
4, 083
3 024
124
935
Balance on goods and services
do
-f 1 480
+1, 455
+693
+1 345
-953
-96
—857
-1, 333
-94
—1 239
-1,288
— 103
—1 185
-1,469
122
— 1 347
Unilateral transfers (net) , total
Private
Government
__ __ _ do _.
do
do
U S long- and short-term capital (net), total
Private
Government
do
do
do
-375
—235
-140
-729
—519
-210
-192
+7
— 54
— 149
-199
+95
Foreign long- and short-term capital (net)
do _
+173
+508
+758
+121
Increase (— ) or decrease (+) in U. S. gold stock
mil of do!
—555
-104
+7
+274
Errors and omissions
+230
+203
+22
-217
r
do
Revised.
» Preliminary.
t Revisions for dividend payments for January 1951-January 1952 are shown on p. 6 of the April 1953 SURVEY.
§ Number of stocks represents number currently used; the change in the number does not affect the continuity of series.
9
0
7
3
0
8 54
2 62
11 71
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES
BALANCE OF PAYMENTS
548
125
170
5
SURVEY OF CURRENT BUSINESS
Mav 105:
S-21
1953
1952
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
March
April
May
July
June
August
Septem-
ber
October
Novem-
ber
Decem-
ber
January
Febru-
ary
March
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE
Indexes
Exports of U. S. merchandise:
Quantity
1936-38-100
Value
do__
Unit value
do
Imports for consumption:
Quantity
_ __
do _ _ .
Value
__
do._
Unit value
do
Agricultural products, quantity:
Exports, domestic, total:
Unadjusted
1924-29=100
Adjusted
_
__
__ __ do
Total, excluding cotton:
Unadjusted
_
do __
Adjusted
do
Imports for consumption:
Unadjusted
do
Adjusted
__
do
284
588
207
265
550
208
288
598
208
231
474
205
202
416
206
217
441
203
243
498
205
243
494
203
239
483
202
280
566
203
253
519
205
'239
157
474
302
154
456
296
142
411
290
145
418
289
144
409
284
140
398
283
151
430
284
169
471
279
138
388
280
180
498
277
162
445
276
149
414
278
121
143
95
120
104
129
81
110
56
75
65
73
77
62
93
70
88
70
110
92
96
96
78
95
178
213
139
169
159
181
121
148
102
130
112
112
117
93
142
113
125
109
151
138
146
153
117
145
122
110
118
112
104
106
107
116
101
113
108
117
111
116
116
119
90
92
128
126
121
116
101
99
8,207
7,338
8,211
7,673
9,463
8,061
8, 450
8,109
6,970
7,688
7,769
7,580
7,421
8,342
7,028
8,879
6 393
7, 847
5 720
9,629
486
204
Shipping Weight
Water-borne trade:
Exports incl. reexports ^
General imports
thous. of long tons
_
_ _ _ __ _ do__
r
Value
Exports, including reexports, totalj
mil. of doL.
By geographic regions:
Africa
__
thous. of dol
Asia and OoeaniaA
do
EuropeA
_ _
do
Northern North America
do
Southern North America
do
South America
.__
do
Total exports by leading countries:
Africa:
Fgvpt
do
Union of South Africa
do
Asia and Oceania:
Australia, including New Guinea _ _ _ do _
British Malaya
do
ChinaO
_
do
India and Pakistan
do
Japan
_
do
Indonesia
do
Republic of the Philippines.
.__ do
Europe:
France
do
Germany
_ _ _ _ _ _
_
do
Italy
do
Union of Soviet Socialist Republics
do
United Kingdom
do
North and South America:
Canada _ _ - . . _
_ _
do_- _
Latin- American Republics, total
do
Argentina _ ._ __ _ d o _ _
Brazil
do
Chile
do
Colombia
_
do
Cuba
do—
Mexico
do
Venezuela
__ . __
do
Exports of U. S. merchandise, total^f _ mil. of dol
By economic classes:
Crude materials..
thous. of dol__
Crude foodstuffs
_ ___
do
Manufactured foodstuffs and beverages _ d o
Semimanufactures 9
do
Finished manufactures 9
do
By principal commodities:
Agricultural products, total
do
Cotton unmanufactured
do
Fruits, vegetables, and preparations
do
Grains and preparations
do
Packing-house products. _ _.
___
do
Tobacco and manufactures*
do
Nonagricultural products, total
do
Automobiles, parts, and aecessories§cT.do
Chemicals and related products§cf-do __
Coal and related fuels* . ___ _ __ do
Iron and steel-mill products
do
Machinery, total§c?
Agricultural
__ _
Tractors, parts, and accessories §
Electrical §<_?
Metalworking§
Other industrial cf
do.
do
do
do
do
do__
Petroleum and products
Textiles and manufactures. .
do
do
1
1,447
1,352
1,473
1,167
1,027
1,086
1,225
1,213
1,186
1,390
1,276
71,782
238, 776
374, 180
227, 354
159, 084
200, 408
58, 616
220, 942
273, 529
242, 231
147, 368
176, 351
50, 783
227, 741
314, 680
264, 986
157, 528
174, 722
44, 226
185, 369
250, 924
249, 260
137, 834
139,113
34, 649
147, 256
175, 570
210,826
139, 068
131,629
39, 291
150,509
202, 129
220, 327
127, 060
136, 460
44, 841
147, 461
223,613
245, 657
123, 826
133, 467
43, 837
171,204
245,180
256, 042
144, 150
133, 760
37, 328
159,489
246, 105
244, 723
132, 057
127, 770
39, 067
204 719
307 509
227, 773
144 151
136, 712
44, 401
177 336
266 534
228 543
131 177
113 932
35, 516
164, 827
212, 663
230,915
121, 660
116, 192
7,521
29, 058
10, 320
20, 825
5,015
19, 531
4, 484
17,738
3,564
13,175
5 563
14, 291
6 742
15,085
12 313
14, 703
4 556
13, 506
2 563
16 871
6 733
19 463
3 316
17, 221
21 , 009
3,792
0
66,817
51,065
12, 455
25, 165
17, 362
3,215
0
47, 463
64, 01 9
9, 971
21,313
14, 430
3,240
0
37, 951
78, 199
10,046
21,723
11, 609
1,714
10,141
3,129
0
18 130
34,138
12, 756
23, 020
7, 883
2,171
16,255
2 862
0
13 650
54, 697
9 984
21, 517
9,970
2,436
0
14 079
51, 195
13, 009
23, 988
17 271
2 852
11 330
2 274
9,871
2, 636
14 646
42, 514
10 960
22, 330
12.222
2,900
0
13 914
40.219
9 964
21,383
29
52
11
27
17
50
10
30
43,142
40, 801
48, 385
34, 445
22,132
37, 398
21 876
33 714
18 654
26 941
47 184
23 781
26 555
33 556
23 480
57, 743
41, 793
17,052
20,156
19 318
0)
32, 800
19 474
36 644
17 900
87, 896
36, 596
31,159
49, 469
0)
54, 701
50, 950
52, 758
227, 335
343, 585
15, 138
74, 819
15,125
20, 843
48, 633
65, 631
47, 167
1,434
242, 223
306, 388
13,211
65, 885
11,083
18, 352
44, 004
58, 973
45, 099
1,342
264, 923
314, 672
13, 398
57, 886
12,212
21,223
43, 816
66,164
44, 537
1,458
249, 010
259, 478
9,156
42, 386
8,287
17, 904
40, 970
56, 934
42, 148
1,155
210, 764
253, 782
7, 730
40, 082
8 171
18,172
44, 987
52, 466
38, 451
1,014
220, 256
248 853
1 6, 561
35, 831
8 054
20 582
36, 946
49 407
35 387
1,074
245, 647
242 785
13, 761
29, 758
10 412
17 637
39 606
46 275
41 786
1,215
188, 038
177, 190
64, 346
160,104
844, 001
157,666
138, 352
56, 433
161,775
$27, 554
1 57, 360
151,310
68, f)41
154,154
926, 419
142, 954
103,228
58, 695
129,702
720, 123
87, 067
73, 093
59, 306
108,165
686, 344
114,752
79 811
49, 214
116 407
714, 060
373, 055
94, 195
19,383
184, 325
23, 498
21,324
296, 785
73, 839
18, 261
145,533
16,303
14, 644
316, 630
67, 967
22, 237
165, 204
14,658
21,879
244, 259
55, 740
24, 868
108,442
12,144
20, 087
170 107
10 287
20, 563
85 396
13,414
21,070
186 682
21 048
19,040
82 570
14 330
28 160
1r ,060,624 1,044,994
1,141,155
127, 794 r r129, 972 r 151,362
r
82, 220
69, 588
r 71, 141
44, 868
43, 128
48,512
78, 384
71, 774
74, 940
910,444
r 124, 732
*• 66, 324
48, 343
50, 776
843 868
'•101,772
r 62, 640
38, 471
29. 866
* 271, 199 r 246, 681
13,872
13,927
r
r
38, 153
34, 882
r
r
56, 760
54, 424
23, 622
21,386
126, 564
112,138
' 274, 329
14, 543
r
37, 582
>• 61, 971
23, 302
126, 559
r 239, 459
15,728
r
30, 781
r 56, 440
20, 605
107, 088
' 222, 956 r 217, 861
13 394
13 102
»• 22, 931
»• 17,044
' 55, 808 r 59, 891
20, 115
20 397
102, 110
99, 949
63,018
53, 939
70, 321
48, 057
70, 896
69, 591
0)
74, 324
57, 330
0
29, 040
55, 992
9,280
25, 780
27, 974
27, 903
49, 524
3
0
(i)
33,914
cfData beginning January 1951 have been adjusted to conform to the 1952 revision of the export schedule.
64, 260
50, 822
325
849
812
960
0
26 761
40, 758
7,474
24, 829
40 723
40 545
40 355
30 604
33 892
36 574
26 455
28 495
17 124
45, 330
62 098
52 783
47, 648
256 027
261 216
11,241
28, 926
10 169
19 004
45 828
52 510
43 536
1,205
244, 723
244 019
10, 023
25,010
10 083
20 462
41 127
51 213
41 570
1,176
227 771
264 844
8 198
30, 439
13 939
19 441
40 428
54 057
43 165
1,380
228 533
230 130
6 349
23' 783
5 479
19' 138
39 304
51 858
39 621
1 265
230,913
221 524
5 413
23, 485
5 639
20 1?1
35 961
46 807
41 075
r
1, 184
146,917
80 212
50,460
124 355
813 052
154,670
97 038
61,606
133 436
758 113
168 049
89 3?5
58, 850
123 189
736 990
180 358
116 300
65, 1 96
13'") 1 52
883 399
134 465
109 465
63. 590
106 691
850 688
110 576
86 681
50] 871
108 22?
827 542
220 983
50 569
16,818
90 291
10 706
35 629
264 622
61 290
21,026
108 755
13 345
30 816
271 226
67 14?
21,924
98 036
13 022
31 980
303 083
°0 505
22, 444
139 589
13 419
29 9(34
268 700
54 468
19, 149
127 983
13 27?
24 919
216 399
47 2°i4
17, 838
93 631
13 604
19 003
905 177 1 057 322
940 240
' 97, 815 «• 93, 992 ' 114,891
r 63, 237
r 59, 151
»• 61, 28?
9f> ()09
35 154
35 400
66, 321
59,' 779
67,' 719
996 200
124, 610
57 393
24 773
45, 804
967 493
124, 383
56, 273
18 294
43, 070
r 037 332
q 4-42
r 23, 442
r
70, 475
24 248
100 384
238 348
9 191
26. 659
67, 966
28 274
97 985
223 914
10 345
27, 561
62, 148
22 269
92 975
54, 787
52, 941
54, 489
50, 462
4
887 563
994 013
* 94,098 '•I 15,' 751
f
r
63, 844
62, 402
44 549
41 334
55, 805
41,410
71,352
42, 697
o
1, 196
910
383
477
814
(i)
r
o
r
207 643
8 003
'16,689
r
56, 408
21 748
95 578
60, 483
50, 622
r
2
224 431 T 204 437
7 339
8 201
' 20, 451 «• 17, 481
«• 57, 253
r 55. 373
24 906
21 126
103 664
93 412
59,131
58, 780
63, 073
55, 496
1
73, 825
55, 811
m
r
1
1, 388
SUEVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
1952
March
April
June
May
July
1953
August
September
October
November
December
February
January
March
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Val vie—-Continued
General imports, total
By geographic regions:
\frica
Asia and Oceania A
thous. of doL_
do
do
Fnropp/\
do
Northern North America
do
Southern North America
do
South America
do
By leading countries:
Africa:
Egypt
do
Union of South Africa
do
Asia and Oceania:
Australia including New Guinea
do
British Malaya
do
OhinaO
do _
India and Pakistan
do
Japan
do
Indonesia
do
Republic of the Philippines
do
Europe:
France
do
Germany
do
Italy
do
Union of Soviet Socialist Republics.. ..do.....
United Kingdom
do
North and South America:
Canada _ - .
_
.
.do
Latin-American Republics total
do
Argentina
do
Brazil
do
Chile
do
Colombia
do
Cuba
do
Mexico
do
Venezuela
do
Imports for consumption total
do
By economic classes:
Crude materials
do
Crude foodstuffs
do
Manufactured foodstuffs and beverages do
Semimanufactures
do
Finished manufactures
do
By principal commodities:
Agricultural products total
do
Cocoa or cacao beans, incl. shells*
do
Coffee
do
Hides and skins
do
Rubber crude including guavule
do
Sugar
do
Wool and mohair, unmanufactured
do
Nonagricultural products, total
do
Furs and manufactures
do
Nonferrous ores, metals, and manufactures,
total
thous. of doL.
Copper, incl. ore and manufactures.. do
Tin including ore
do
Paper base stocks
do
Newsprint
do
Petroleum and products
do
964, 244
932, 249
834, 495
860, 844
839, 084
817,016
877, 288
918, 279
803, 849
76, 677
206, 177
169,676
195. 597
138, 245
177, 870
55, 851
202, 967
174, 753
190, 051
135, 949
172, 678
43, 379
168, 985
149,267
195,518
129, 057
148, 288
53, 604
179, 510
162, 012
211, 100
107, 618
146, 999
47, 189
158, 033
157, 379
191. 537
99, 869
185, 077
35, 252
160, 494
148, 151
183, 483
90, 059
199, 577
30, 281
150,032
170, 630
206, 672
85, 695
233, 978
35, 015
165, 566
190, 603
219, 112
86, 031
221, 746
35, 596
124. 157
175.506
201, 716
83, 799
183, 074
56, 763
185, 176
199. 816
229, 070
134,790
245, 449
54, 010
170, 556
185, 553
183, 895
136, 805
196, 403
45, 121
140, 455
172, 260
185, 017
121,717
191, 620
14,179
12,833
2,973
8,994
2,367
7,817
766
8,121
7,548
8,275
2,460
7,777
423
8,287
323
6,858
1,851
7,414
7,739
6,979
6,840
9,633
2. 334
9,734
12,293
65, 277
4,911
22, 892
18,540
21,921
21, 600
21,916
42, 200
3. 699
27, 422
14,948
28, 098
16. 624
15,876
27, 588
2,336
25, 336
16, 064
23, 658
22, 348
10, 459
32, 867
1.663
21, 187
16, 984
29, 087
26, 801
10,814
21,013
1,424
25, 296
19, 001
19, 227
26, 019
8,771
23, 100
1,099
26, 374
17, 985
24, 676
23. 484
9,302
21.632
590
24, 231
23, 629
18, 914
19, 024
8,137
19, 941
1,341
24, 912
24, 631
22, 755
18, 873
6, 685
20, 328
518
19. 926
20, 924
13, 682
13, 828
24, 633
30. 928
256
27, 543
24. 666
21,299
15, 451
15, 888
24. 550
678
27, 198
23, 045
19, 485
19, 429
14, 347
16, 959
818
19, 037
15,439
18. 854
20, 874
13. 994
16,445
12,596
3, 139
39, 963
13, 997
14, 992
12, 371
2, 220
47, 105
11, 202
15, 937
10, 682
805
43, 422
13, 141
15,661
12, 521
1,611
38, 260
12, 725
16. 954
12, 702
1, 535
40, 374
12, 485
16.668
12.557
1, 241
35, 789
11, 765
19, 133
10, 998
1,617
42, 975
15, 493
23, 001
17, 251
1,376
46, 041
12, 569
23, 810
14, 128
982
38, 609
14, 259
22. 743
16, 591
559
42, 722
14, 346
20, 991
18. 504
810
37, 495
13, 023
17. 675
10. 1ST
195, 499
292, 996
9, 945
74, 507
20, 292
28, 329
41,927
39. 672
31,027
972, 389
189, 940
289. 749
10, 900
66, 861
14, 659
28, 071
47, 524
37,616
34, 661
935, 476
195, 516
257, 193
9, 208
49, 593
15, 946
21,697
57, 131
32, 838
32, 930
842, 944
210, 555
238, 633
12, 473
49, 431
13, 102
24, 246
40, 458
31, 363
32, 131
858, 308
190, 889
269, 548
15,112
49, 606
22, 828
33, 526
36. 722
25, 755
32, 731
838, 175
183,017
278, 496
11.428
63, 125
31.031
35. 735
42, 352
26, 402
31,717
815, 618
205, 876
306, 625
16, 444
88, 896
36, 518
36, 324
37, 109
25, 989
34, 804
882, 065
218, 769
287, 196
19, 574
76, 739
31, 261
30, 066
24, 447
29, 511
32, 964
966, 110
201, 634
250, 416
15, 737
57, 728
27, 782
28. 044
20, 284
33, 160
32, 574
795, 493
229, 038
356, 042
22, 245
81.685
36, 922
41.970
26. 418
51 . 577
35, 804
1,021,449
183, 882
311,145
22, 750
57, 916
24, 671
33, 519
36, 607
41, 625
34, 575
913, 589
184, 973
294. 690
15, 042
58. 576
26,314
31,029
32, 773
37, 969
34, 751
848, 279
300, 590
194,082
93, 378
215, 548
168,791
292, 479
172,712
91.061
206, 663
172, 561
231, 537
135, 842
106, 028
203, 244
166, 293
242, 925
149,603
94, 664
200, 828
170, 288
214, 846
149. 360
97. 221
201, 314
175, 433
209, 864
144,514
97, 640
201, 947
161. 652
205, 860
177, 241
102, 314
220, 850
175, 801
268, 704
162, 006
89, 410
243, 723
202, 268
181, 802
152, 094
74. 815
208i 081
178, 701
246, 866
229, 704
79, 974
274, 209
190, 696
235. 974
190, 486
85, 464
225, 958
175, 707
208, 540
175, 810
76, 306
221, 835
165, 788
436, 368
20. 992
138,122
4, 238
80, 730
43, 698
33, 850
536, 021
8,100
408,324
17,900
115,585
6, 223
75, 927
41,832
37,711
527, 152
7,753
353, 248
21 , 291
76, 128
4,496
49, 046
50, 893
31,579
489, 695
6,498
344, 846
22, 303
82, 679
6, 532
52, 132
43, 653
23, 341
513, 463
7,239
329, 783
10,161
95, 442
5,832
33, 445
43, 724
27, 645
508, 391
7,196
337, 072
6,871
99, 155
5, 298
40, 999
44, 526
23. 929
478, 545
5,790
360, 530
6,344
126, 550
3,935
30, 996
40, 161
25,086
521. 535
4,924
371,240
2,897
109, 590
4,852
32,613
19, 528
63, 073
594, 870
7,035
290, 160
8, 653
94, 992
3,728
27, 077
13,708
16,719
505, 333
2,611
410, 680
24, 650
149, 133
5, 437
41,921
17, 924
27, 549
610. 770
8,585
382, 326
20, 084
123, 448
5,315
35, 465
33, 282
38, 969
531, 263
7,578
335, 265
15, 120
121. 604
4,789
28,816
30, 237
28, 129
513,014
5,538
132, 186
27, 391
22, 370
29, 326
44, 960
55, 513
129, 160
24, 912
31 , 076
24, 867
45, 587
59, 082
116, 120
21, 763
22, 372
25, 569
44, 484
58, 051
122, 031
20, 664
34, 388
24, 703
50, 938
55, 504
126, 982
42, 361
32. 037
21.546
50,191
54, 547
109, 596
42, 841
28. 852
23. 718
47, 359
51, 754
114,460
47, 940
23, 344
26, 390
49, 899
52, 230
122, 912
41, 848
30, 693
27, 071
51 , 003
64,479
103, 248
40. 714
20, 980
27. 323
47, 937
53, 979
143, 311
49, 819
26, 806
29,639
53, 604
71, 782
115, 429
34, 879
30, 722
25, 894
46, 106
65, 112
119, 714
43, 561
24, 531
24,219
43, 841
57, 929
1,051,064 ' 927, 221 ' 856, 190 1, 018, 000
44, 698
r
TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Airlines
Operations on scheduled airlines:
ATiles flown revenue
thousands
Express and freight ton-miles flown thousands
ATail ton-miles
flown
do
Passengers carried revenue
do
Passenger-miles flown revenue
do
33, 363
34,069
32, 274
17 815
18, 341
11,442
11, 700
5,109
5,527
2,054
1,831
973 389 1,116,764
19 142
13 039
5, 681
1,733
926, 746
33, 887
19 233
1 2, 887
5, 649
1,889
994, 729
20, 090
46
19,982
19
19, 958
d
19, 592
11.0852
1,062
126, 500
11.1922
1,053
129, 400
11.2579
1,050
128, 300
11.3820
962
118,000
36, 475
36,612
11,612
5,115
2,012
1,081,742
1 2, 475
5. 201
2,140
1,142,731
19, 505
d
19, 793
11.4477
921
117,300
11.7810
919
121, 800
35, 566
36, 213
55, 643
13, 720
1 5, 826
5.225
5,731
2,128
2,183
1,121,868 1,119,674
2
34,211
35, 632
33, 836
35, 931
2 72 363
13 133
16, 591
14.566
14, 459
5 554
5,346
7,947
5, 574
1,845
1,879
1. 839
1,828
972, 158 1,018,400 1, 040. 706 1, 000, 839
Express Operations
Operating revenues
Operating income
thous of dol
do
5
20
4
0)
20. 561
56
20, 901
7
20, 921
50
26, 474
20, 061
19, 645
12.2311
1,059
145, 400
12.3114
959
127, 300
12. 4184
37
27
67
Local Transit Lines
Fares, average cash rate
Passengers carried, revenue
Operating revenues
. cents..
millions..
thous. of dol..
11.9148
975
119,000
11.9465
1,048
133, 500
12.1776
964
127, 700
897
12. 4428
1,010
120, 300
Class I Steam Railways
Freight carloadings (A. A. R.V.cT
2,802
2,236
3,294
4,001
2,912
2,608
3,363
2,671
3,352
2, 731
3,677
3,882
' 2, 868
Total cars _ _ . __. .
- thousands..
439
317
636
713
517
470
451
498
607
478
613
631
'539
Coal
do .
15
59
58
74
22
57
60
61
53
68
58
75
-63
Coke
do
r
179
225
175
164
175
201
179
170
243
178
173
203
174
Forest products
do
r
221
255
187
168
159
170
162
204
232
263
253
219
180
Grain and grain products
do_ _.
49
24
66
67
36
36
26
42
26
27
'29
42
40
Livestock
do
44
371
85
83
211
387
357
403
96
447
96
78
'83
Ore
do
289
302
360
274
257
364
265
288
297
278
'300
350
318
Merchandise, 1. c. 1
_
do
1, 155
1,579
1, 673
1,938
1,480
1,803
1,298
1,852
1,377
1,490
1,549
'1.499
1,770
Miscellaneous .
...
do
r
d
l
2
Revised.
Deficit.
Less than $500.
Data represent quarterly total.
ABeginning 1952, Turkey is included with Europe; previously, with Asia.
©Including Manchuria
beginning January 1952.
*New series. Data prior to August 1951 will be shown later.
cfData for May, August, and November 1952 and January 1953 are for 5 weeks; other months, 4 weeks.
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S--23
1 952
March
April
May
June
July
1953
August
September
October
November
December
January
February
March
TRANSPORTATION AND COMMUNICATIONS—Continued
TR A N SPORT ATION—Con tinned
Class I Steam Railways— Continued
Freight carloadings (Federal Reserve indexes':
Total, unadjusted
1 935-39=100.
Coal
- - do - . .
Coke
do
Forest products
- - do.
Grain and grain products
do
Livestock
do
Ore
_ .do
Merchandise 1 c 1
do .
Miscellaneous
_ _ _ _ do
124
111
198
141
123
103
163
142
115
65
195
47
139
124
101
178
131
116
59
292
45
138
111
96
68
144
165
45
82
44
122
104
75
56
147
183
45
126
103
166
142
130
73
212
46
141
122
101
179
126
132
66
212
45
137
17,100
24, 363
4, 108
11,153
2.554
2,296
128
53
75
48
142
133
Total adjusted
do
111
Coal
.
do
196
Coke
- - do - _ _
141
Forest products
do
139
Grain and grain products
do _ .
66
Livestock
do
257
Ore
- do ...
47
Merchandise 1 c 1
do
149
Miscellaneous
- do
Freight-car surplus and shortage, daily average:
9,264
Car surplus total
number
2,161
Box cars
do_
1,516
Gondolas and open hoppers
do
2. 621
Car shortage total
do. .
845
Box cars
-- -- do
993
Gondolas and open hoppers
do _
Financial operations:
r
875, 558
Operating revenues, total
thous. of dol.
' 729, 402
Freight
do
74, 077
Passenger
_ - do
r
675. 231
Operating expenses
do
Tax accruals, joint facility and equipment rents r
123, 594
thous. of doL
r
76. 764
Net railway operating income
do
50, 239
Net income!
do
Operating results:
55, 949
Freight carried 1 mile
mil of ton-miles
1.372
Revenue per ton -mile
cents
2,759
3,339
1,874
365
857
847, 478
702, 145
71,906
667, 433
145
135
187
151
138
93
352
48
155
138
93
185
146
43
116
129
101
154
157
145
61
323
46
141
108
96
69
139
161
56
53
44
119
102
75
57
146
153
56
46
43
115
125
101
160
149
134
65
216
46
140
134
135
189
140
123
70
235
45
144
128
93
188
139
157
76
233
46
145
28.136
14,669
40,311
7.477
13,934
26, 642
5, 693
331
113
8,914
6. 372
1 . 691
2,933
2,070
C.,310
4,924
704
959
1,865
717
1.490
448
2,743
870,315
814, 338
663, 869
645. 934
790. 718
644, 792
80. 482
634, 398
100. 529
67, 875
48. 988
95, 357
60, 903
35, 469
720, 138
75, 955
676, 418
81.702
1,958
899, 734
744,841
80. 548
663, 360
134
108
184
154
128
62
278
44
151
130
97
181
146
114
57
275
45
149
132
92
184
142
130
60
273
45
154
5,294
24 003
8, 113
10, 456
792
449
173
79, 262
21, 625
46, 558
827
564
137
69, 294
8, 145
51, 776
1.376
768
194
73, 260
7. 429
56, 584
1. 745
976
203
144
95
123
66
258
47
150
45
14(i
33
2, 030
7. 075
4, 253
2,472
139
010
581
577
985,215
838, 101
66, 027
707, 483
908, 004
769, 593
65, 025
661 229
935,
762
84
711
061
543
069
367
863, 001
713, 727
79, 199
661, 684
812, 968
684, 368
64. 738
621 092
919, 617
779, 580
67. 052
696. 914
146, 650
120. 913
94, 456
157,064
120, 669
92 073
136,088
110.687
84, 158
114.091
109 602
141 852
121, 242
' 80, 075
57, 595
114,076
129, 134
93, 570
58 066
1. 503
2 481
56 975
1.417
2 416
50 753
1. 552
3 us
51, 756
1.458
2 943
47 714
1 . 502
2 389
12,028
3, 822
7, 691
942,
796,
70,
674,
52, 147
1.412
2 684
54, 557
1.393
2 802
47, 293
1 . 475
3 065
44,817
56, 949
1.377
3 133
58.213
1.524
3 076
9 217
5 799
3,418
10 402
6 699
3, 702
9 341
6 065
3, 275
9 292
6 118
3. 174
9 737
6 576
3, 159
9 723
131,334
131
111
191
152
131
69
248
45
144
157
117
314
48
158
25
110,927
104. 939
78, 155
134
123
195
152
147
76
233
46
144
120
111
200
135
6. 996
14, 194
8, 235
5,169
107, 732
72, 313
45, 341
82, 970
54. 342
119
97
191
140
112
46
69
43
140
122
92
186
142
119
47
77
43
135
121
108
193
139
128
59
70
42
138
138
123
195
149
1.430
2 696
77, 800
55 943
Waterway Traffic
Clearances, vessels5 in foreign trade:§
Total TJ S port*
thous of net tons
8,839
United States
do
Panama Canal:
Total
- -- thous. of long tons
In United States vessels .
__
do
3,115
1,130
3,039
2,979
2.948
2,649
762
1.148
2,866
1,077
3, 057
1, 109
3, 037
940
3,233
1,256
3, 261
1,236
3,009
1,188
2.511
909
2,888
1,035
947
1,168
6.24
77
225
6.74
79
251
6.20
78
266
6. 70
79
260
6.39
72
237
7.15
76
255
6.91
78
251
7.13
83
259
7.17
72
241
6.49
63
233
6.69
76
249
6.77
78
245
6.49
76
230
65, 249
68, 599
1,439
23, 897
44, 164
346
61, 610
72, 209
1,518
20, 431
48, 658
559
58, 893
79, 967
1 , 704
76, 484
109, 740
1. 744
18 361
45, 330
88. 798
111 036
115,846
94, 685
105, 868
63, 766
73, 084
55, 698
60, 671
50 824
56 399
53 130
' 59. 980
r
63, 018
34, 150
2,455
4,008
29, 361
4, 270
25, 062
1,603
21,497
17, 109
982
375
19 466
237
26, 700
253
40 199
328
47, 501
419
867
10, 655
762
763
809
716
717
10,145
9,074
9.113
9,064
8, 368
766
9 664
919
9,446
682
8,618
718
9,343
11,610
741
9 388
5, 389
3, 449
6,523
3,200
Travel
Hotels:
A verage sale per occupied room
dollars.
Rooms occupied!
percent of total
Restaurant sales index
same month 1929=100..
Foreign travel:
U S citizens arrivals^1 1
number
U S citizens departuresc?
do
Fmigrant aliens departed
do
Immigrant aliens admitted
do
Passports issued
do
National parks visitors . _ _ . . . thousands
Pullman Co.:
Revenue passenger-miles
millions
Passenger revenues
thous. of dol
18,898
51,528
1,075
665
COMMUNICATIONS
Telephone carriers:©
Operating revenues
Station revenues
Tolls, message
_ _
Operating expenses, before taxes
Net operating income
Phones in service, end of month
thous. of dol
do
do
345, 353
202, 195
343, 596
203, 861
114, 762
352, 525
205, 171
354.143
121,895
351, 732
206 102
119, 781
351.597
118,143
204. 358
120, 635
205 114
122,471
357, 925
210, 387
120, 911
370, 929
216, 164
127, 665
359, 634
214 751
117, 549
380 586
223 190
129 766
374, 578
222, 116
124, 327
do
do
thousands
238, 954
42, 437
40, 516
234, 876
43, 627
40, 662
248, 667
41 238
40, 847
245 862
42 238
40 966
258. 743
37 140
41. 105
252 771
41 077
41 255
255 480
40 878
41,419
261 973
44 112
41,621
251 155
43 950
41 786
273 404
50 5'M
42 068
260 513
45 507
42, 116
10, 384
12, 894
S, 247
15, 839
14, 544
474
15,847
15,101
* 47
1 5, 633
14, 8H3
17 251
1 5, 534
974
17 842
15,850
1 253
15, 881
14, 761
«*2«
18 962
16, 225
2 370
16 937
15, 487
655
16 033
14, 178
1 097
2,155
1,702
251
2, 250
1,722
270
2,081
1,766
105
2,164
1,880
60
2,101
1,798
91
2 377
1,779
2 470
l'804
2,272
1,820
2 603
1,919
436
2 456
1,875
360
2 293
1 778
296
2,592
2, 433
2,066
2, 546
2, 156
271
2,517
2,056
2,585
2.084
2 385
2, 094
388
2 461
2,090
340
388
246
2 799
2 297
489
2 453
2 133
192
2 346
1 992
222
Telegraph, cable, and radiotelegraph carriers:
Wire-telegraph:
Operating revenues
thous. of dol
Operating expenses, incl. depreciation.. - do
Net operating revenues - -do
Ocean-cable:
Operating revenues
. do
Operating expenses, incl. depreciation
do ..
Net operating revenues ...
- do
Radiotelegraph:
Operating revenues.
_ . do
Operating expenses, incl. depreciation _ do. _
Net operating revenues
__
.do
16,801
14, 923
1,016
2,237
1,759
274
7,233
10, 243
d
S, 698
252
d
2,038
383
259
435
438
256
2 611
2 160
2 391
2,069
360
°67
' Revised.
d Deficit.
{Revised data for February 1952, $51,753,000.
§Beginning July 1951, data exclude vessels under time or voyage charter to Military Sea Transportation Service.
fRevised series. Data beginning 1951 have been adjusted to the levels of the 1948 Census of Business.
o*Data exclude arrivals and departures via international land borders; land-border departures during the 12 months ended June 1950 amounted to less than 1 percent of total departures.
©Data relate to continental United States. Beginning January 1952, data exclude reports from several companies previously covered and include figures for some not included in earlier
a.
data.
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
May 1953
1953
1952
March
April
May
June
July
August
September
October
November
December
January
February
March
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production :J
Ammonia, synthetic anhydrous (commercial)
160, 034
165, 105
177, 059
short tons__ 172, 099
442
630
Calcium arsenate (commercial)
do.
0)
0)
58, 380
56, 074
60, 601
67, 974
Calcium carbide (commercial)
do
63, 579
53, 756
72, 417
47, 307
Carbon dioxide liquid gas, and solidO
do
221, 169
214, 128
229, 472
200, 169
Chlorine gas
do_50, 669
53, 129
58, 868
48, 851
Hydrochloric acid (100% HC1) .__
do
279
150
763
1,520
Lead arsenate (acid and basic)
do
137.924
144, 696
122, 670
128, 065
Nitric acid (100% HNCh)
- do...
1,941
1 , 954
2,156
1,131
Oxvgen (high purity)
mil of cu. ft
172, 135
173, 334
168, 272
153,497
Phosphoric acid (50% HsPCU)
short tons
Soda ash, ammonia-soda process (98-100%
372, 529
358, 448
334, 449
363. 579
Na^COs)
short tons
6, 428
8,590
6,745
5, 656
Sodium bichromate and chromate
do
258, 521
250, 564
230, 883
271, 996
Sodium hydroxide (100% NaOH)
do
Sodium silicate, soluble silicate glass (anhy41, 194
36, 794
46, 852
38, 565
drous)
short tons
Sodium sulfate, Glauber's salt and crude salt
67, 031
65, 838
65, 646
73, 973
cake
short tons
Sulfuric acid:
1, 174, 836 1, 115, 602 1, 109, 076 1,007,709
Production (100% H2SO4)
do
Price, wholesale, 66°, tanks, at works
20.00
20.00
20.00
20.00
dol. per short ton__
Organic chemicals:
Acetic acid (synthetic and natural), production
26, 380
26, 535
27. 980
29, 138
thous. of l b _ _
31,536
51.944
27, 591
42, 711
Acetic anhydride production
do
1.109
1,178
957
1,247
Acetvl^alicvlic acid (aspirin), production do
Alcohol, ethyl:
26.
062
33,
857
32,
922
41,
129
Production
thous. of proof gal
82, 344
74, 420
97, 550
95, 361
Stocks total
do__
In industrial alcohol bonded warehouses
55, 592
51, 949
50, 584
54, 937
thous. of proof gal_.
30, 395
41,959
40, 425
23. 837
In denaturing plants
do
33, 102
34, 108
30, 539
40, 939
Used for denaturationf
do _ _
1,755
1,395
1, 447
1,861
Withdrawn tax-paid
do
Alcohol, denatured:
17,
868
18,368
21,
924
16,
481
Production
thous. of wine gal
18, 018
20, 284
21, 501
19, 984
Consumption (withdrawals)
do
8,
055
12,
093
8,555
14,
037
Stocks
do _ _ .
7,077
14, 401
13, 546
13. 293
Creosote oil production
thous. of eal
5, 873
4; 204
4,419
5,470
Ethyl acetate (85% \ production
thous. of ib
Glycerin, refined (100%, basis):
High gravity and yellow distilled:
7.099
6, 745
7, 538
6, 770
Production
_
. do _6. 374
6, 385
6, 239
5, 617
Consumption
do
14. 427
17, 578
17,013
18, 104
Stocks
„
do
Chemically pure:
5,428
7,178
12, 528
11, 704
Production
do
7.008
7.015
7,398
7,040
Consumption
_ _
_ _ _ do _
24, 507
29, 435
28, 382
28, 107
Stocks
do
Methanol, production:
175
158
185
201
Natural (100%)
thous. of gal..
11,881
13, 498
13,111
13, 951
Synthetic (100%.)
do
21, 263
19, 225
21, 348
21, 519
Phthalic anhydride, production
thous. of lb__
167, 574
704
52, 238
80, 662
194, 285
49, 282
0)
118, 340
1,046
153, 609
173, 326
128, 886
1, 862
179, 200
184, 319
0)
56,315
55, 292
227, 970
61, 646
0)
140, 866
2,251
205, 074
178, 562
47, 947
65, 370
209, 966
57, 334
(0
134, 588
2,023
185, 295
56, 150
46, 012
219, 626
61,699
381
147, 180
2,175
179, 647
193, 507
0)
61, 903
45, 441
224, 938
64, 284
0)
157, 508
2,297
176, 929
336, 327
3,722
224, 462
370, 877
5,882
242, 721
349, 218
7,001
242, 700
405, 778
8, 355
260, 742
431, 598
8,107
257, 081
414, 557
8,013
260, 184
34, 403
35, 521
44, 948
59, 997
44, 373
45, 893
58, 999
66, 516
68, 913
75, 070
76, 075
81, 301
968, 467
171, 721
0)
45, 812
79, 391
207, 964
54, 462
0)
0)
1,066,592 1, 079, 457 1, 164, 427 1, 159, 061
173, 857
188, 882
926
'419
61.913
65, 788
' 44, 463 43, 988
217, 261
231,017
r
60, 153
66, 056
1,194
^709
139, 178
156, 824
r
2, 161
2,
278
f
199, 384
207, 747
422, 365
8,490
269,311
370, 735
6, 990
256, 482
41, 181
41, 950
81, 814
73, 321
r
1,192,765 1, 184, 405 1, 116, 994
20.00
20.00
20.00
20.00
20.00
20.00
20.00
20.00
34, 256
65, 963
845
32, 979
70, 859
823
32, 781
74, 404
807
38, 746
80, 829
1,189
39, 241
69, 515
1, 145
42, 985
72, 855
1,137
39, 858
67, 175
1,120
33, 894
61,361
1,115
39, 292
77, 437
32, 984
82, 661
36, 439
87, 430
35, 839
85, 838
31, 552
81, 702
42, 182
83, 245
46, 161
84, 263
45, 013
77, 701
47, 610
29, 827
35, 397
2,052
47, 420
35, 241
28, 577
1, 629
48, 430
39, 000
31,249
2,057
46, 419
39,419
35, 172
2,058
42 281
39, 421
34, 286
2,101
44, 833
38, 412
40. 638
1,448
52, 686
31, 577
35, 349
1,815
56, 948
20, 753
40, 320
1,892
19, 039
17,468
9.100
6,509
4, 152
15, 437
18, 261
7, 158
12, 547
8,813
16, 987
16, 799
7,326
12, 538
7, 984
19, 226
19,166
7,347
13, 026
7,363
19, 613
18, 428
8, 548
14, 059
8,082
23, 417
23, 665
8, 285
12, 897
8,375
19. 037
20, 225
7,084
12. 631
6,925
21, 659
17, 583
9, 689
10, 813
7, 222
5, 855
6, 003
13. 553
6,511
6,538
12, 246
7,279
6, 975
12,066
7, 602
8,101
11, 447
7,043
7, 102
11, 006
6,898
6,219
11,370
6,701
6, 503
12, 998
6, 762
6, 276
12, 697
7,893
6,866
14, 856
6, 237
6, 628
21, 684
9,035
7, 536
19, 080
10, 040
7,991
17,173
11,147
8, 886
16,211
10, 629
7, 527
15. 336
11, 663
7, 608
14, 595
12, 181
8, 233
16, 069
13, 258
r 7, 552
17, 644
14, 582
8,217
20, 146
195
11,890
18, 955
179
12,059
16, 462
234
11, 143
17, 954
194
13, 367
19, 036
179
13, 329
20, 480
172
15, 544
19, 978
153
14, 027
20, 013
148
11, 890
18, 481
530
136, 743
7. 652
117.254
7, 22 /
2389
203, 643
24, 643
164, 357
7,015
J
380
208, 593
19, 939
170, 215
7,227
2599
171, 683
28, 068
124.084
5, 893
2559
242, 814
7, 955
219, 806
12, 602
2
572
169, 969
7, 850
148, 826
7,848
2
685
160, 461
22, 46S
117, 635
8,686
2924
140, 760
5, 946
116, 482
6, 637
2 1, 324
161, 193
5, 336
133, 696
9, 161
208, 013
172, f,f>3
204, 665
257, 860
Imports, total
do- 151, 448
96, 732
149, 891
187, 284
Nitrogenous materials, total
do
90, 517
33,915
18, 706
59. 960
Nitrate of soda
do
14, 698
17, 510
6, 832
21,714
Phosphate materials
do
23, 258
12, 488
27, 731
26, 481
Potash materials
do
Price, wholesale, nitrate of soda, crude, f. o. b. cars,
57. 00
57. 00
57.00
57. 00
port warehouses
dol. per short ton-157, 711
127, 810
125, 600
Potash deliveries
short tons.- 140, 625
Superphosphate (bulk):
941, 330
1, 101, 454 1, 137, 270 1,074,722
Production
do
897, 818 1, 018, 081 1, 238, 946
1, 046, 710
Stocks end of month
do
141,032
100, 674
37,015
7, 318
21, 293
169, 119
122, 146
50, 865
8, 166
27, 336
237, 657
181,. 187
69, 563
6, 460
33, 020
220, 823
165,102
69, 842
10, 856
30, 821
194, 024
133, 078
66, 738
26. 160
22, 218
194, 599
137, 862
50, 743
8,735
34, 119
232. 080
180, 359
41, 722
12, 400
27, 654
296, 708
245, 377
37, 565
4,521
30, 831
57.00
113, 167
57.00
122, 979
57.00
149, 678
57.00
142, 726
57.00
127, 884
57.00
133, 733
57.00
139, 339
57.00
167, 733
926, 657
1,366,549
957, 418
1,424,214
929, 313
1,405,661
p 20. 00
FERTILIZERS
Consumption (14 States) §
Exports, total
Nitrogenous materials
Phosphate materials
Potash materials
.
thous. of short tons..
short tons__
do _ .
do
do
1,827
191, 261
10, 802
163, 553
7, 469
1,819
204, 452
15, 296
173, 431
6, 147
1, 167
207, 943
15,353
176, 649
7,887
1,047,118
917, 658
1,402,545 1, 398, 028
941,440
971, 091 1,039,410
1,510,676 1, 554, 703 1,433,309
2
2. 030
p 57. 00
214, 470
1,111.748
1, 152, 044
NAVAL STORES
Rosin (gum and wood) :
Production, quarterly total
drums (520 lb.)_
Stocks, end of quarter.
- do__Price, gum, wholesale, "WG" grade (N.Y.), bulk
dol. per 100 lb__
Turpentine (gum and wood):
Production, quarterly total
bbl. (50 gal.)__
Stocks, end of quarter _
_ ___
do. Price, gum, wholesale (N.Y.)
dol. per gal__
392, 400
722, 580
8.70
127, 940
194, 450
.66
8.55
8.55
8.50
8.35
3
948, 760
904, 650
3
331,000
214, 640
.62
8.70
8.35
8.50
8.50
8.40
8.90
8.80
^8.80
.62
.60
.61
.63
.60
.62 1
.62
.60
.60
.60
».60
2
Revised.
* Preliminary.
1
Not
available
for
publication.
Total
for
12
States:
excludes
data
for
both
Virginia and Kentucky (effective July 1952, Kentucky will report se-mi3
armually: see note"§" belowT for quarterly data for Virginia).
Total for April-September.
JRevised data for January-October 1950 and 1951 are available upon request.
OData beginning January 1951 exclude amounts produced and consumed in the same plants manufacturing soda ash.
fRevised series. Data shown prior to the November 1951 SURVEY represent alcohol withdrawn for denaturation.
•Figures exclude data for Virginia; effective January 1951, this State reports quarterly. Data for Virginia (thous. short tons): 1951—January-March, 312; April-June 288' July-September,
91; O-ctober-December, 111; 1952—January-March, 322; April-June, 331; July-September, 90; October-December, 100; 1953—January-March, 320.
r
SURVEY OF CURRENT BUSINESS
May 1953
S--25
19 52
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
March
April
May
June
j
j
July
1953
August
September
October
November
December
January
902
56 709
1,056
56 212
February
March
CHEMICALS AND ALLIED PRODUCTS—Continued
MISCELLANEOUS
Explosives (industrial), shipments:
Black blasting powder
High explosives
Sulfur:
Production _ _ _ _ _ _ _ _ _ _
_
Stocks _ _ _
thous. of lb__
do
842
57, 659
706
61, 905
556
63, 111
489
57, 251
586
51,315
764
62, 515
1,010
66 177
1,184
66 621
1,016
59 840
812
56, 871
710
58, 876
445, 014
454, 960
460, 058
443, 017
.long tons477, 939
428, 810
381, 532
447, 481
418, 568
471,615
436, 143
422, 560
430, 811
do _ 2, 850, 666 2, 808. 368 2, 827, 506 2, 902, 335 2, 982, 331 3, 047, 591 3, 081, 284 3 064 952 3 053 843 3 068 855 3,130,379 3, 089, 132 3, 042, 952
FATS, OILS, OILSEEDS, AND
BYPRODUCTS
Animal fats, greases, and oils:J
Animal fats:
Production
thous of Ib
Consumption, factory
do
Stocks, end of month _
do
Greases:
Production
do _
Consumption, factory...
__do
Stocks, end of month
_do
Fish oils:
Production.
do
Consumption, factory
do
Stocks, end of month cf
do
Vegetable oils, oilseeds, and byproducts:?
Vegetable oils, total:
Production, crude
mil. of Ib
Consumption, crude, factory
do __
Stocks, end of month:
Crudecf.
do
Refined
do
Exports
thous. of Ib
Imports, total
do
Paint oils .
do
All other vegetable oils
__.do _ _
Copra:
Consumption, factory
short tons
Stocks, end of month
do
Imports
do
Coconut or copra oil:
Production:
Crude
thous. of lb__
Refined
do
Consumption, factory:
Crude
_ „
do
Refined
do
Stocks, end
of month:
Crudecf1
do
Refined
do
Imports
do
Cottonseed:
Receipts at mills
thous. of short tons
Consumption (crush)
do
Stocks at mills, end of month
do
Cottonseed cake and meal:
Production _ .
__
short tons
Stocks at mills, end of month
do
Cottonseed oil, crude:
Production
thous. of Ib
Stocks, end of month
do
Cottonseed oil, refined:
Production
do
Consumption, factory
,_
do
In oleomargarine
__
do
Stocks, end of month
do
Price, wholesale, drums (N. Y.)*__dol. per lb__
Flaxseed:
Production (crop estimate) §
thous. of bu
Oil mills:
Consumption
do
Stocks, end of month
do
Price, wholesale, No. 1 (Minn.)
dol. per b u _ _
Linseed oil, raw:
Production
thous. of Ib
Consumption, factory
do
Stocks at factorv, end of month
do
Price, wholesale (N. Y.)
dol. perlb__
Soy beans:
Production (crop estimate) § _ thous. of bu
Consumption, factory
do
Stocks, end of month
do
Soybean oil:
Production:
Crude
thous. oflb__
Refined
do
Consumption, factory, refined
do
Stocks, end of month:
Crude
__
__ _ _ do
Refined
do
Price, wholesale, refined (N. Y.)_—dol. per l b _ _ _
365, 093
119, 944
325, 955
349, 058
117, 906
329, 408
321,630
114, 807
336, 784
305, 335
115,548
367, 590
290, 088
95, 111
377, 329
286 050
114, 199
339. 625
290 840
110, 119
329, 643
358 024
128 965
296? 004
367 547
104 045
327 150
431 751
105 973
406, 370
427 887
113 586
460, 719
52,114
40, 075
100, 536
50, 357
37, 913
105, 411
49, 982
36, 701
111,895
49, 486
31, 969
115, 580
44, 932
31,098
118,495
46. 040
35, 164
113, 738
43, 600
37, 100
107, 634
54 838
44 866
101 152
55 434
34 533
107 530
57, 588
32, 518
114 150
298
9,429
73, 055
5,141
9,451
68, 538
11,060
9,758
66,640
12, 748
10, 174
69. 931
22, 631
8,331
84, 479
22, 683
9,919
88, 854
13, 407
11,763
89, 990
9 268
15 957
103 115
5 743
14 975
92 801
483
482
430
487
382
442
343
410
305
361
354
394
433
413
627
566
1,275
589
61, 395
24,596
2,563
22, 032
1,202
632
58, 562
31, 067
4,389
26, 678
1,123
624
49,815
28, 638
2,049
26, 590
1,054
572
32, 674
30, 935
5,051
25, 884
1,017
536
30,911
36, 473
5,447
31,026
952
498
43, 097
35 171
5, 177
29, 993
962
438
27, 991
32, 922
2,153
30, 769
1 049
474
30 808
36 190
3 664
32 525
578
689
26, 367
20, 923
25, 848
32, 794
11,952
23, 608
23, 068
11, 267
21, 892
16,051
4,061
16, 456
18, 028
11, 974
21, 390
37 665
13, 570
29 563
32, 550
10, 070
23,507
33,176
30, 494
41, 626
31,011
29, 564
32, 465
21, 486
27, 765
22, 632
26, 745
47, 692
36, 466
45, 222
26, 727
48, 037
28, 085
48, 315
28, 306
43, 436
26, 131
41,119
23, 431
81,387
9,013
3,731
79, 869
8,961
7,921
67, 285
8,899
7,522
56, 707
7,596
9,777
55
433
802
22
306
518
14
218
315
201, 182
47, 336
146, 191
46, 396
101, 133
57, 870
143, 727
162, 209
136, 955
107, 399
28, 019
1
413, 893
.190
106, 633
129, 093
72, 082
96, 917
r
r
r
343 522
127, 843
453, 996
344 181
129 144
449, 508
57, 636
39, 197
117, 840
51, 541
35, 222
115, 820
51,090
39, 599
110 424
3 037
10, 832
90 117
486
17, 820
76, 380
223
14, 599
65, 644
244
11, 930
51 459
592
532
566
562
572
551
488
••521
510
543
1.096
1,115
1,147
1,098
967
41, 414
37 943
2 494
35 449
35, 276
31 759
31, 026
18, 102
33 909
441
33, 468
»• 1, 112
••872
17, 699
25, 227
877
24, 349
35 228
16 591
43 529
30 262
12 324
24 433
29 524
12 900
23 426
27 095
19, 014
19, 969
28 611
11 277
26 583
41, 096
38, 003
45, 425
41, 035
38, 622
31 423
37, 619
30 958
34, 491
27, 041
24, 232
29, 174
36, 332
29 922
51, 836
30 364
56, 545
34, 112
61, 323
35, 858
47 506
9
6 344
47 818
27 401
42, 439
24 030
45, 998
»• 25, 409
44 820
27 093
49, 699
7,578
16,085
50 718
8,730
12, 237
46, 974
7,616
10, 137
42, 465
8,334
14, 152
45 915
8 415
16 162
47 506
7' 980
11, 950
44 552
8,241
10, 846
30 782
7,677
5,298
36 744
7 429
14
153
176
78
117
137
398
148
386
1,170
521
1,035
1 757
782
2,010
1 097
539
666
2 388
2,261
222
655
1,827
69, 838
58, 946
55, 746
45. 104
70, 059
47 876
248, 660
81, 857
379, 384
115,114
348 802
144 420
317 680
155 303
52, 822
58, 602
41, 143
41, 077
44, 768
38 375
156, 459
103 809
79, 578
113, 260
28, 764
401, 400
.185
54, 023
90, 150
17, 070
1 361, 320
.205
42 285
92, 727
23, 978
1
318 006
.205
71 655
103, 262
32, 434
i 288, 212
.191
249, 604
162, 946
719
733
231 827
188 505
213 966
178 154
190 034
86 397
24 707
445 493
.193
198 592
95 697
26 480
1 544 572
.195
777
r
r
oo
100
550
1, 391
480
949
310, 755 »•r 262, 173
210, 115
194 047
231 782
208 612
211 130
178 757
r
r
T
180, 541
170 739
165 269
147 853
185 476 r r173 738
170 577
104 450
99 752
90 754
29 016 r 25, 781
23 109
1
627 573 i723 763 i 812 596
.179
.228
P. 233
123, 723
106, 108
28, 523
1
434, 758 i
.180
100, 080
109, 369
28, 784
432, 620 i
.180
2,196
4,430
4.16
1,897
3,608
3.93
2,083
3,440
3.96
2,172
3,059
4.00
1, 580
3,346
4.01
2,295
3,794
4.17
2,303
5,461
4. 17
2,903
6, 154
4.08
2 699
5 621
4.10
4 967
4.10
2 627
4 355
4.04
2 065
3 679
3.90
1 924
2 821
P3.95
45, 707
43, 661
659, 383
.186
38, 953
44, 651
646, 589
.176
41, 647
43, 685
638, 021
.178
44, 015
43, 565
637, 975
3 . 155
31, 860
45, 899
634, 474
3.150
46 904
54, 981
622 350
3.152
46 702
51,841
616, 537
3. 156
58 017
53' 608
622 079
3.151
54 620
47 674
626 611
3.150
46 016
42 335
634 959
3
.148
51 336
41 602
6433 703
.146
41 300
4l' 599
641 675
3.148
39 027
43 085
636 113
p 3 . 151
21, 540
42, 708
20, 129
32, 307
19, 682
28, 493
18, 617
30, 838
17, 539
22, 339
17, 549
9,071
14, 969
11,632
22, 507
85, 496
21, 997
89, 783
2 291 682
21, 397
79, 852
21, 550
65, 741
18, 679
55, 817
20, 437
49, 613
218, 381
183, 469
164, 911
204, 138
198, 641
171, 062
199, 002
181, 249
171, 244
189, 977
177, 198
188, 112
179, 498
162, 158
142, 825
178, 795
175 008
154, 982
155, 632
166 542
187, 729
238, 300
199, 066
210, 621
230, 609
173 576
171, 950
226, 935
198 811
182, 331
231, 000
202 969
195, 424
r 200, 412
186 396
r 175, 466
221, 783
201 036
188, 963
245, 027
109, 459
.150
224, 072
130, 234
.148
197, 473
126, 720
.144
185, 122
111, 280
.174
180, 130
116, 618
.174
136, 414
124, 222
.170
98, 287
96 020
.156
124, 629
75 677
.151
139 602
73 545
.161
153 674
83 716
!l68
166 204
87 118
!l91
T
173, 856
119, 867
29,2^8
1
343, 165 i
.191
_ 31 002
2 285
156 308
T gg 275
'. 191
158 194
97 391
P. 208
3 Minneapolis price; comparable data for May 1952, $0.155,
S-26
SURVEY OF CURRENT BUSINESS
1952
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
March
April
May
June
July
1953
August
September
October
November
December
January
116 840
25 283
1?6 580
23 412
February
March
CHEMICALS AND ALLIED PRODUCTS—Continued
FATS, OILS, ETC.— Continued
Vegetable oils, oilseeds, etc.— Continued
Oleomargarine:
Production
thous.oflb
Stocks (factory and warehouse)
do
Price, wholesale, vegetable, colored, delivered
(eastern U. S.)*
dol. per Ib
Shortening :
Production
thous. of Ib
Stocks, end of month
do
96, 762
21,655
101, 136
22, 419
100, 709
15, 839
104, 040
26, 837
.259
.253
.249
.266
128, 912
89, 120
127, 375
93, 408
138, 692
83, 228
142, 749
81, 922
thous. of dol
_ do ._
do
110, 938
41, 594
69, 344
124, 670
44, 287
80, 383
126, 768
44, 620
82, 148
SYNTHETIC PLASTICS AND RESIN
MATERIALS
Production:
Cellulose acetate and mixed ester plastics:
Sheets rods and tubes
thous.oflb
Molding and extrusion materials
do
Nitrocellulose, sheets, rods, and tubes
do_ __
Other cellulose plastics _ .
do
1,841
4,380
479
784
1,880
4,985
527
683
28, 262
25, 951
15, 459
39, 208
28, 300
7,502
16, 586
24, 131
24, 967
14, 233
35, 955
28, 418
7,396
17, 122
86 564
15,584
125, 694
18, 615
123, 403
23, 362
105 480
21, 694
.269
1 281
1.284
i .284
112.624
88, 436
125, 114
92, 559
140, 171
74, 126
178, 057
86, 653
122, 571
40, 757
81,814
111,093
36, 808
74, 285
113,282
40, 974
72, 308
117,831
44, 262
73, 569
1,770
4,122
485
657
1, 713
3,805
453
400
2, 013
4,504
377
442
1,998
4, 866
439
404
24, 009
23, 959
14, 955
31,897
29, 326
8,030
17, 341
24, 827
26, 413
15,312
29, 357
28, 507
7,882
17, 467
20, 981
26, 259
11,189
28, 756
24, 342
7, 337
14, 368
26, 850
22, 007
16, 669
29, 582
25, 692
7,572
17, 868
68, 695
23, 807
.271
1
r 114 037
T
25 364
1
113 421
23 911
.284
i .2*4
284
v i 284
126, 622
93, 678
131 749
93, 668
141, S78
87, 976
134 857
97. 290
135 478
93, 755
120, 966
48, 711
72, 255
95, 848
40. 552
55, 296
90 563
41,273
49, 290
r 107 729
r
42, 960
r
64, 769
105 221
43, 118
62 103
2,223
6,109
581
303
2 852
6,679
589
468
2,345
5,629
506
529
2 659
5, 780
556
456
2 360
5 992
610
532
2 575
6 207
593
521
30. 996
27, 484
16, 942
32. 764
31, 224
9,488
18, 078
39, 144
37, 919
19, 868
39, 247
33, 936
8,639
21, 728
35, 539
38, 515
18,315
39, 881
27, 644
8,914
21, 274
34, 474
37, 043
20, 473
41, 654
31,002
7,840
21, 925
35 305
32, 938
17 883
44 506
32, 978
8 705
21, 788
32 975
34, 374
15 975
41 028
31. 228
8 246
21, 525
PAINTS, VARNISH, AND LACQUER f
Factory shipments, total
Industrial sales.-Trade sales
__
-
_. ._
Phenolic and other tar acid resins
Polystyrene
Urea and melamine resins
Vinyl resins §
Alkydresins§
Rosin modifications
Miscellaneous resins§
--
do _
do_ _ _
do
do
do
do
do
ELECTRIC POWER AND GAS
ELECTRIC POWER*
Production (utility and industrial) , total
mil. of kw.-hr__
Electric utilities total
do
By fuels
-_
- do. _
By water power
do
Privately and publicly owned utilities
mil. of kw.-hr._
Other producers
do
Industrial establishments, total
do
By fuels
do
By water power
do
Sales to ultimate customers, total (Edison Electric
Institute)
mil. of kw.-hr._
Commercial and industrial:
Small light and power
do
Large light and power
do
Railways and railroads
do
Residential or domestic
do
Rural (distinct rural rates)
do
Street and highway lighting
do
Other public authorities
do
Interdepartmental
do
Revenue from sales to ultimate customers (Edison
Electric Institute)
thous. of dol
38, 568
33, 040
22, 597
10, 443
36, 736
31, 515
21, 553
9,962
37, 065
31, 824
22, 132
9,692
36, 052
31, 525
22, 366
9,160
37, 007
32, 523
23, 785
8,738
39, 752
34, 361
25, 844
8,518
38, 759
33, 376
26, 019
7,357
40, 511
34, 821
27, 797
7,025
39, 351
33, 747
27, 225
6,522
42, 310
36, 452
28, 231
8,221
42, 656
36, 663
27, 402
9,261
39, 165
33 597
24, 603
8,995
42, 993
36 969
26, 771
10 197
27, 647
5,393
5,529
5,022
506
26, 559
4,956
5,221
4,753
469
26, 910
4,915
5, 240
4,745
496
26, 451
5,075
4,526
4,141
385
27, 249
5,274
4,484
4,159
326
28, 860
5,501
5,391
5,026
365
28, 619
4,757
5,383
5,067
316
30, 227
4, 594
5, 690
5,422
268
29, 338
4,409
5,604
5,361
243
31, 343
5,109
5,858
5,537
321
31,432
5,231
5,994
5,571
423
28, 431
5 166
5,567
5,149
418
31, 249
5,720
6,024
5,572
452
28, 453
27, 766
27, 178
26, 856
26, 914
28, 781
29, 440
29, 279
29, 364
30,676
4,945
13, 869
504
7,548
544
298
710
35
4,792
13, 764
458
7, 157
598
268
698
30
4, 767
13, 669
444
6,679
639
249
691
40
5, 046
13, 069
404
6,544
800
236
713
44
5,361
12, 638
396
6, 567
994
242
671
45
5, 583
14, 097
401
6,657
1,061
262
675
45
5,501
14, 681
398
6,817
1,015
287
698
43
5,236
14, 823
426
6,950
766
321
714
44
5,185
14,611
433
7,446
605
341
709
34
5,414
14, 888
480
8,259
525
363
714
32
504, 334
494, 080
486, 460
488, 551
493, 359
512, 716
521, 495
521, 103
527, 280
550, 592
GAScT
Manufactured and mixed gas (quarterly):
Customers end of Quarter total
thousands
Residential (incl house-heating)
do
Industrial and commercial
do
Sales to consumers total
mil of therms
Residential
do
Industrial and commercial
do
Revenue from sales to consumers, total
thous of dol
Residential (incl house-heating)
do
Industrial and commercial
do
[Natural gas (quarterly) :
Customers end of quarter total
thousands
Residential (incl house-heating)
do
Industrial and commercial
do
Sales to consumers total
mil of therms
Residential (incl house-heating)
do
Industrial and commercial
do
Revenue from sales to consumers, total
thous of dol
Residential (incl house-heating)
do
Industrial and commercial
do
r
7,932
7,376
551
1,156
785
353
7,336
6,819
512
809
491
308
6,713
6,243
468
540
268
263
6,685
6,212
469
799
492
297
165, 655
121, 287
42, 851
120, 928
86, 277
33, 743
83, 954
57, 416
25, 932
113, 191
80, 803
31, 550
17, 553
16, 101
1,434
14, 861
6,409
8,037
18, 145
16, 694
1,433
11, 113
3,212
7,529
18, 899
17, 441
1,438
9,576
1,329
7,630
19, 545
17, 970
1,555
13. 525
4,126
8,496
648, 863
416, 815
222, 670
434, 422
236, 113
190, 375
315, 515
126, 145
176, 242
554, 740
305, 859
232 401
Revised.
» Preliminary.
* Based on 1. c. 1. shipments. Data prior to September 1952 are for carlots.
*New series. Compiled by U. S. Department of Labor, Bureau of Labor Statistics. Data prior to February 1951 will be shown later.
tRevised series= Data are estimated total factory shipments of finished paint, varnish, and lacquer. Figures supersede those shown in the SURVEY prior to the June 1952 issue,
which did not measure total shipments.
§ See note "1" in the February 1952 SURVEY and earlier issues regarding changes in classification and coverage beginning with data for January 1951.
J Unpublished revisions for January-July 1950 and 1951 for electric-power production will be shown later.
cfAll sales data formerly expressed in cu. ft. are now published in therms by the compiling source; 1932-49 figures expressed in therms and minor revisions for customers and revenue for
1932-44 will be shown later. Revisions for the first 2 quarters of 1950 are shown in the corresponding note in the October 1951 SURVEY; those for the first 2 quarters of 1951 will be shown later.
SUEVEY OF CURRENT BUSINESS
M n v 1.!).":?
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-27
195 2
March
May
April
Juno
July
1953
August
September
October
November
December
January
February
7,182
10, 597
6,844
6, 852
10, 132
5, 787
5,908
9,598
6,686
6,774
9, 096
6, 621
5,707
9, 606
6, 191
10, 558
10, 321
March
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:
7,326
Production
thous, of hbl._
6,099
Tax-paid withdrawals
do
10,
663
Stocks, end of month
.. __ _
do _.
Distilled spirits:
15,
009
Production
thous. of tax gal-Consumption, apparent, for beverage purposes
r
14,
459
thous. of wine gaL.
9, 757
Tax-paid withdrawals
thous. of tax gaL.
940, 071
Stocks, end of month _
do
1,515
Imports
_. _.
-_-thous. of proof gal. .
Whisky:
8, 648
Production
thous. of tax gal
5, 536
Tax-paid withdrawals
do
768, 745
Stocks, end of month
do
1,401
Imports
thous. of proof gal. _
Rectified spirits and wines, production, totalcT
7,090
thous. of proof gal_6,186
Whiskv
_
do
Wines and distilling materials:
Sparkling wines:
55
Production
thous. of wine gaL_
59
Tax-paid withdrawals
do
1,334
Stocks, end of month
do
31
Imports
_
do
Still wines:
1,462
Production
_
do
11,411
Tax-paid withdrawals.-__ do
199, 116
Stocks, end of month. _
do
416
Imports
do
456
Distilling materials produced at wineries-. -do
7,439
6,744
10, 891
7, 962
7, 381
10, 941
14, 194
8, 975
8,412
10, 962
11, 642
10, 116
9, 266
11,190
7,132
8,634
8, 159
11, 126
6, 444
6, 453
9,837
20, 691
12, 265
13, 898
9,573
941, 057
1,314
r
14, 602
9, 345
940, 432
1, 362
r
13, 120
9,721
937. 156
1, 326
r
13. 141
9, 972
932,414
1,229
" 13, 428
8, 006
929, 033
1,088
r
1 5, 324
11,509
921, 480
1, 575
19,463
1 5, 909
909, 081
2,048
18, 966
15, 013
898, 143
2,360
8, 045
4,997
769, 763
1,208
6, 793
4, 546
769, 996
1, 265
4, 823
5, 026
767, 558
1,234
2, 515
4,322
763, 490
1, 141
2, 677
3, 980
760, 079
979
3, 208
6, 204
754, 200
1,443
3. 859
9, 053
745,181
1,826
3, 683
8,312
737, 913
2, 162
5, 782
5, 676
735,172
1, 977
6, 944
6, 037
7,422
6, 469
7, 024
6, 150
7, 590
6, 389
5, 936
4, 785
8, 585
7, 504
11,446
10,116
11, 536
10, 455
201
69
1,458
31
129
71
1,510
36
102
86
1,515
35
63
73
1,503
28
100
78
1,518
29
62
112
1, 467
40
90
158
1, 384
64
1,644
10, 453
189, 087
427
770
1, 640
9,368
181,416
365
126
853
9.120
170, 606
360
155
547
7,980
162. 733
272
1, 758
1,741
8,440
153, 728
297
r
6, 870
20, 940
11, 993
162, 350
324
49, 009
93, 095
6,505
.738
104, 120
10, 522
.714
134, 980
30, 821
.693
130, 210
68, 616
.690
121,465
99, 751
.714
108, 320
111,400
.737
86, 350
59, 025
155, 195
133, 815
2,832
103, 235
75, 075
158, 949
139, 705
3,263
139, 160
107, 525
185, 927
164, 654
1,904
139, 870
109, 780
217, 604
192, 920
2,942
121, 925
64, 815
239, 632
211,477
3,873
.429
.423
.429
.435
17,600
7,350
205, 000
21,250
4,500
261, 850
36, 920
4, 200
369, 500
8,237
76, 443
7,726
112, 232
4,729
5,676
8, 577
5, 630
9,789
7, 683
6, 658
10, 324
9,548
12, 539
13, 597
9,124
890, 328
1,302
11,311
887, 827
6, 836
5,320
734, 248
1, 063
6, 939
5, 307
733.138
1, 185
8, 295
6, 149
732, 448
7,732
6, 614
6, 103
5, 091
6, 634
5, 721
8,313
7,217
82
182
1,274
86
77
197
1,139
96
151
97
1, 183
33
73
68
1,178
23
66, 382
13, 822
219, 565
513
124,199
25, 764
12, 333
233, 390
589
55, 656
6,622
11, 637
225, 069
589
17, 406
2,442
10, 303
215, 550
396
2,786
1, 265
9,963
205, 265
295
722
94, 885
111,319
.732
89, 575
102,177
.716
76, 420
83. 951
.699
95, 855
72, 723
.678
106, 095
85, 737
.670
112, 370
85, 340
253, 563
222, 933
3,502
99, 235
73, 905
262, 467
231, 503
6,486
89, 090
63, 270
256, 885
225, 317
5,939
78, 110
53, 290
242, 509
210, 029
5,699
84, 840
55, 330
238, 803
205, 178
4,454
87, 355
58, 765
227, 499
194, 286
6,982
.436
.444
.465
.463
.457
.431
27, 400
4, 750
349, 000
20, 660
3, 500
273, 250
21,200
3, 650
>• 277, 300
14, 600
3, 250
243, 500
10,250
3,725
208, 000
9,050
3,275
167, 100
8. 339
264, 340
9,540
392,212
7, 975
417,109
7,482
480, 266
8, 354
508, 805
7,190
493, 073
2,301
8,296
2, 656
8,031
1,528
10, 351
2,321
10, 570
1, 665
9,029
1,484
5, 764
10.80
6.38
10.80
6.39
10.80
6.32
10.80
6.30
10.80
6.33
10.80
6.38
9,421
3,292
5.47
10, 134
3,823
5.33
12, 056
5, 061
5.26
11,879
4,972
5.22
11,017
4,439
5.33
8,540
67, 800
8, 945
82, 050
11,035
120, 850
13, 570
115,875
13,344
34, 662
14,518
54, 813
1 6, 761
108, 576
5,371
4,305
2,499
4,415
.159
.163
r
22, 785
13, 398
10, 216
8.872
' 894, 492 ' 892, 357
2,204
1,183
DAIRY PRODUCTS
Butter, creamery:
Production (factory)t
thous. of l b _ _
Stocks, cold storage, end of month.
do
Price, wholesale, 92-score (New York)_dol. perlb__
Cheese:
Production (factory), totalj
thous. of lb__
American, whole milkj . _ _
.do
Stocks, cold storage, end of month, total-- -do
American, whole milk
do
Imports
do
Price, wholesale, American, single daisies (Chicago)
dol. per lb__
Condensed and evaporated milk:
Production :t
Condensed (sweetened):
Bulk goods
thous. of lb__
Case goodsO
do
Evaporated (unsweetened), case goods. -do
Stocks, manufacturers', case goods, end of month:
Condensed (sweetened)
thous. of lb__
Evaporated (unsweetened)
do
Exports:
Condensed (sweetened) 1
do
Evaporated (unsweetened )
_
do
Prices, wholesale, U. S. average:
Condensed (sweetened)
dol. per case__
Evaporated (unsweetened)
do
Fluid milk:
Production..
__ _
_ _
mil. of Ib
Utilization in mfd. dairy products. _. . do
Price, dealers', standard grade
dol. per 100 lb__
Dry milk:
Production: t
Dry whole milk
thous. of lb._
Nonfat dry milk solids (human food)
do
Stocks, manufacturers', end of month:
Dry whole milk_
Nonfat dry milk solids (human food)
do
Exports:
Drv whole milk
do
Nonfat dry milk solids (human food)
do
Price, wholesale, nonfat dry milk solids (human
food), U, S. average
dol. per l b _ _
102,770
99, 557
.668
122, 895
129, 261
. 668
85, 410
60,010
218, 371
186, 776
3,559
105, 935
78,855
225, 730
194, 498
.427
.422
.411
10, 100
4, 575
171,750
5, 050
170, 600
4, 550
160, 000
4, 300
201, 750
7,519
447, 175
8,320
382, 563
8, 662
313, 741
10,154
262, 904
9. 489
238, 043
1, 361
12, 342
1,071
7,740
365
6,539
2, 334
8, 956
1, 527
7,785
10.80
6.39
10.80
6.40
10.80
6.39
10.80
6.33
6.27
6.21
6. 12
10,238
4,062
5.43
9, 126
3,553
5.54
8, 664
3,247
5.65
7,891
2,769
5.70
8, 389
3, 250
5.63
8, 706
3, 458
5.50
8, 533
3,348
5.40
10, 100
4, 069
5.27
9,950
85, 300
9,900
70, 650
6,175
50, 590
5,475
45, 100
4, 840
43, 000
5,840
65, 950
7, 400
78, 000
7, 150
80, 300
8, 250
108, 700
19, 287
1 50, 593
21, 385
162, 150
23, 963
167,428
153[ 762
20, 212
135,177
17,009
124, 553
15,181
127, 715
15, 411
132, 265
12T 844
128, 820
13,311
132, 555
2,842
9,839
5, 118
2,303
3, 453
3, 567
2,921
5,824
2, 599
2, 515
3,186
3, 365
3, 695
4,196
3, 694
8, 851
3,495
2,706
2, 850
1, 690
.163
.163
.165
. 165
. 166
.166
.164
.163
.160
. 167
r
r
r
.158
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
thous. of bu_. 2 r
i 92, 696
Shipments, carlot
no. of carloads.. ~~ " ~2~006~
r
283"
~"r~5,~578~
2, 635"
2,748
""~2,"643"
2,74(5
Stocks, cold storage, end of month. -thous. of bu_. 2 r 5, 983
2^894
1,037
282
153
238
6^221
26, 892
24, 941
20, 061
1 f>! 265 r 10, 775
6, 432
r
Citrus fruits, carlot shipments
no. of carloads..
11,587 r 12, 247 r 13, 945 r 10, 869
' 9, 744
5, 994
5, 136
' 5, 366 ' 6, 420 ' 13, 256 r 10, 915
10, 804
11, 234
Frozen fruits, stocks, cold storage, end of month
thous. of Ib
466, 735
475, 636
537, 679
580, 264
593, 518
578, 699
556, 897
532, 993
493, 402
455, 479
481, 129 r 496, 233 449, 336
Frozen vegetables, stocks, cold storage, end of
month
_
_thous. of Ib
348, 023
313, 708
301, 739
336, 911
385, 494
463,
Oil
530,
091
576,
522
569,
974
534,
933
494, 893 T 450, 205
416, 625
Potatoes, white:
Production (crop estimate) t
thous. of bu__
1
r
347,
504
r
Shipments carlot
no of carloads 2»"24~180" ~~ "l3~548" ""••"13," 049" "'2l~m~ ""'•"13," 126" "r"l2,"34l" ~~ "lG~508" " ~T2i~ 536" r
" 17," 282" ' 18, 300 ' 23, 101
20, 520
24, 708
Price, wholesale, U. S. No. 1 "(New York)
dol. per 100 lb__
6.025
5.820
5.570
4.844
r
6.708
7.025
6.188
4.792
5.481
4.
971
5.
369
5.
317
*
3.
970
r
Re vised ._
^Preliminary.
1 December 1 est
ruary 1952 (no. of car
22,196. ^ cf Figures beginning July 1952 exclude proc
52, such pn
{Revisions for production of dairy products prior to Novem 3er 1950 ar 3 available upon requ est as followNS: Beginn
1949 fo r butter, el leese, and nonfat dry milk solids; beginning 1950 for
condensed and evaporated milk and dry whole milk, Revisions 'or fluid mi Ik (Januar y 1940-Feb ruary 1951) will be sh ing
own later. Revised estimates f or product ion of potatoes for 1944-49 are
shown in corresponding note in the September 1952 SURVEY.
©Figures beginning 1950 represent whole milk on ly; earlier lata cover both whol 3 and skim med milk.
SURA7EY OF CUKEENT BUSINESS
S-28
May
1952
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
March
April
May
June
July
1953
August
September
October
November
December
January
40,261
56, 484
52, 510
39, 287
i 227, 008
7,659
Iry11"
^arch
FOODSTUFFS AND TOBACCO— Continued
GRAIN AND GRAIN PRODUCTS
Exports, principal grains, including flour and meal
thous. of bu.Barley:
Production (crop estimate)^
do
Receipts principal markets
do
Stocks, domestic, end of month:
Commercial
- do - _
On farmsl
do
Exports, including malt
do
Prices, wholesale (Minneapolis):
No. 2, malting
dol. per bu-_
No 3 straight
do
Corn:
Production (crop estimate)^
Grindings, wet process
R eceipts, principal markets
Stocks, domestic, end of month:
Commercial
-
mil of bu
thous. of b u _ do
--
--do
Exports, including meal
thous. of b u _ Prices, wholesale:
No 3 white (Chicago)
dol. per bu No 3 yellow (Chicago)
do
Weighted average, 5 markets, all grades. .do
Oats:
Production (crop estimate)!
Receipts principal markets
Stocks, domestic, end of month:
Commercial
mil of bu
thous. of bu
do
"P
t ' 1 rT
t
al
do
Price, wholesale,No.3,white(Chicago) . dol. perbu. -
Rice:
Production (crop estimate) t
thous of bu
California:
Receipts domestic rough
thous. of Ib
Shipments from mills, milled rice . _ _ _ d o _ _
Stocks, rough and cleaned (cleaned basis), end
of month
thous. of Ib
Southern States (Ark., La., Tenn., Tex.):
Shipments from mills, milled rice
do
Stocks, domestic, rough and cleaned (cleaned
Exports
do
Price, wholesale, head, clean (N. 6.). -dol. per l b _ _
69, 324
50, 863
52. 903
38, 061
r
29, 169
35, 649
38, 870
45, 025
10, 110
23,234
11,264
8,613
8,294
14, 861
17, 899
16, 967
3,560
5,575
20, 085
132, 890
6,207
18, 989
1,187
14, 798
2
38, 046
880
4,367
1. 423
1.308
1.443
1.234
1.530
1.316
1.612
:.. 430
1.709
1.648
1.626
1.480
10, 486
27, 248
10, 745
18,316
10, 487
17, 358
9,964
20, 041
9, 557
14, 293
10, 194
18, 206
61, 849
1,052.7
10.833
50, 173
40, 813
17, 167
6,859
32, 526
599.7
4, 375
20,772
7,532
3,689
1.847
1.637
1.868
1.818
1.731
1.842
1.756
1.900
1.830
1. 763
6,805
6,602
11,715
11, 785
519, 236
778
.931
9, 057
11, 966
215
.887
588
.908
120, 622
73, 485
50, 534
65, 063
65, 414
35, 882
54, 187
25, 175
7,787
7,194
7,909
19, 160
77, 962
4,024
16, 385
14, 646
2,305
1.492
1. 331
6,172 !
6,877
«• 7, 005
9,402
11, 902
10,717
3,829
13,415
99, 177
4,237
8,386
57, 396
1,374
2,161
1.631
1.545
1.598
1.505
1.612
1.457
1.581
1.456
«• 1. 495
1.395
1.521
1.459
11, 006
21, 567
12, 095
48, 645
10, 769
56, 549
i 3, 307
9,965
33, 489
10, 700
22, 037
10, 336
18, 195
11, 373
21, 403
18, 186
171.4
5,275
31, 204
60, 880
46, 101
16, 005
37,288
1, 466- 4
7,237
62, 039
2, 173. 2
22, 183
51, 032
2,854
16, 087
7, 568
1.808
1. 735
1.808
1.764
1.760
1.716
1.586
1.571
1.575
1.569
1.630
1.597
2.081
1.605
1.573
1.551
1.525
9,130
21, 604
22, 030
10, 705
5,573
4,735
11 , 268
13, 979
16.038
245, 772
378
.833
24, 101
30,814
30, 140
26, 546
328
.829
319
.865
34, 204
1,006,932
223
.920
311
.907
278
.904
61, 946
33, 526
' 40, 996
36, 124
23, 302
41, 993
12, 593
3,298
177, 837
61, 546
154, 481
66, 808
110,166
93, 444
32, 838
48, 200
30. 032
7,276
12, 153
65, 882
107, 170
11,757
108, 570
2
2
\
V|
V
Receipts, principal markets
"
"
thous. o f b u . _
do
Commercial
-- do
Interior mills, elevators, and warehouses
thous. of bu._
On farms!
Exports, total, including
Wheat only.
flour
d°
do
do
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
dol. per b u _ _
No 2 hard winter (Kansas Citv)
do
No 2 red winter (St. Louis)
do ._
Weighted avg., 6 markets, all grades
do
6,796
12, 734
456, 956
261
800
.797
88,012
69, 705
89, 398
78, 442
90. 896
49, 060
90, 015
80, 077
62, 143
74. 247
238
.881
r
129, 682
181,874
187, 253
217,515
134, 497
277, 223
91, 122
211,604
511, 299
104, 199
.105
442, 860
129,517
.105
285, 248
259. 380
.105
153, 772
121,058
.105
61,979
141,312
.105
51, 859
.105
101. 657
.104
199, 214
.105
149, 231
.106
203, 331
.108
r 199, 698
.108
80, 638
.108
p. 121
864
5, 321
2.027
480
2,825
1.945
1,163
2,024
1.928
547
1.278
2.038
2,449
1, 568
1.972
1,770
3,210
1.951
815
3, 285
1. 861
328
2,917
1.914
302
2,698
1.978
115,910
2,470
2,892
1.920
321
2,685
1. 831
239
2, 254
1. 751
240
2,320
1. 753
23, 399
15,809
19. 833
264, 327
261, 241
265, 465
240, 968
231, 647
272, 551
840, 498
217, 258
1
f\
Stoeks, end of month:
Canada (Canadian wheat)
6,884
19,819
1 108, 133
r
Wheat:
Production (crop estimate), totalj _ ..mil. o f b u . _
TTT-
6,708
21, 592
25, 041
791, 661
279
.919
Rye:
Receipts principal markets t
do
Stocks, commercial, domestic, end of month. do
Price, wholesale, No. 2 (Minn.)
dol. perbu..
2. 095
1.562
1.540
24,341
341, 104
22, 191
23, 598
87, 348
269, 976
202, 169
517,914
124,865
202. 564
208, 850
101, 851
88, 937
195, 182
2 255 594
2
93, 924
2 57 879
22 39. 568
63, 079
32, 205
27, 973
112 357
80, 760
197,895
53. 349
49, 049
39, 759
36, 1 54
41 , 731
38, 563
2. 540
2. 496
2. 492
2. 436
2. 503
2.492
2.440
2.414
2.485
2.446
2.405
I
Wheat flour:
Production:
18,065
17,599
Flour
thous. of sacks (100 l b . ) _ _ 17,920 i
73.6
75.3
76.5
Operations percent of capacity
362. 804
352. 881
Offal
- - -- -Short tons.. i 364. 216
!
41,096
42.
025
42.217
Grindin°-s of wheat
thous. of bu_.
Stocks held by mills, end of month
i
j
;
i
thous. of sacks (100 lb.)..|
5.033 ;
..;
Exports
do -J
1,845 i
1,547
1,360
!
Prices, wholesale:
Spring, short patents (Minneapolis)*
5. 585
5. 675 i
5.720 i
dol. per sack (100 Ib.)..
5. 600 •
5. 500
5. 650 !
Winter, hard, short patents (Kansas City)*-- d o _ _ 1
149,329
1,291.4
i 238. 6
i 1,052.8
23. 372
248, 742
59. 153
43. 666
211', 559
23, 804
21, 383
189, 545
190, 469
237, 465
308. 618
224, 407
1 344 121
313, 561
242, 463
279, 426
293, 700
276, 075
251,212
1 102 932
260, 102
21,417
17,232
26, 831
23, 385
365 177
150, 243
510, 819
27, 154
22, 744
33, 051
29, 193
20, 149
16, 146
311,409
128, 199
399, 412
29, 786
24, 547
34, 811
30, 873
29, 298
25, 886
2. 505
2. 306
2.104
2. 350
2. 547
2. 251
2.154
2.314
2.447
2.323
2.211
2.413
2.470
2.409
2.288
2. 474
2.504
2.416
2 329
2'. 519
2.541
2. 458
2.306
2.567
2.533
2.445
2.329
2. 568
2.490
2. 402
2.380
2.530
2.492
2.358
2. 355
2. 505
18, 101
77.5
367, 535
42, 234
19, 099
78.2
387. 693
44, 530
19, 177
82.3
386, 219
44, 698
19, 714
84.7
396, 826
45, 901
21, 081
424, 466
49, 088
18,671
88.9
377, 270
43, 458
1,479"
4,834
1,893
1,656
1,718
4,152
2,248
1,690
5. 505 !
5. 225 !
5. 390
5. 375
5.635 !
5. 500 i
5. 830
5. 625
5.825
5. 525
5.765
5.525
4, 360
1, 816 "~~i~796
5. 630 i
5. 325
j
5. 590 i
5.225 1
r
18, 990
79.3
380, 119
44, 107
r
19, 783
87.3
397, 704
45, 968
r
17, 041
79.0
336, 676
39, 435
245, 848
101,691
268, 440
2. 521
2.395
2. 551
18. 565
78.0
364. 000
42. 903
4,544
1, 593
r
r
5. 855
5. 425
* 6. 079
p 5. 677
l
' Preliminary.
December 1 estimate.
Revised.
3 No quotation.
Old crop only; new grain not reported until beginning of new crop year (July for barley, oats, and wheat; October for corn).
JThe indicated grain series have been revised as follows: Production—barley, corn, oats, 1944-49; rye, wheat, 1945-49; rice, 1949; stocks on farms—barley, corn, oats, 1944-49; wheat, 1945-49,
T
2
o?Trade and^epresent receipts^M^interior primary markets; for names of markets and data for January 1948-July 1950, see
ity Credit Corporation and stored off farms in its own steel and wooden bins; such data are not included in the breakdown of stocks.
*Ne^ s'eriek^Daifa^priorTo"February 1951 will be shown later.
SUEVEY OF CUKRENT BUSINESS
May 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-29
1953
1952
March
April
June
May
July
August
September
October
November
December
January
February
March
FOODSTUFFS AND TOBACCO—Continued
1
LIVESTOCK
Cattle and calves:
Slaughter (Federally inspected) :
405
397
Calves
thous of animals
927
938
Cattle
..do. ' 1, 532 ' 1, 600
Receipts, principal markets
_
do
128
143
Shipments, feeder, to 8 corn-belt States
do
Prices, wholesale:
33.41
33.39
Beef steers (Chicago)
dol. per 1001b__
31.99
31.32
Steers, stocker and feeder (Kansas City)-.do
38. 50
37.00
Calves, vealers (Chicago)
do
Hogs:
Slaughter (Federally inspected)
5, 281
thous. of animals. - r 5,776
' 3, 173
3, 603
Receipts, principal markets
do
Prices:
Wholesale, average, all grades (Chicago)
16.58
16.56
dol. per 1001b._
Hog-corn ratio
9.8
10.1
bu. of corn equal in value to 100 Ib. of live hog- Sheep and lambs:
Slaughter (Federally inspected)
941
971
thous. of animals. _
r
'998
1, 079
Receipts, principal markets
do
119
131
Shipments, feeder, to 8 corn-belt States
do
Prices, wholesale:
26.88
28.88
Lambs, average (Chicago)
dol. per 100 lb_
Lambs, feeder, good and choice (Omaha) _ -do
0)
0)
388
392
966
430
1,100
1,898
185
426
496
•• 1, 590
152
1,135
2,078
338
1,215
2,641
563
33.29
32.06
36.75
32.22
27.21
34.50
32.53
25.24
32.00
32.52
25.17
32.00
4,482
2,800
4,259
' 2, 773
'
3,641
2, 268
19.61
19.25
11.8
11.2
939
' 1, 081
141
1,009
' 1, 585
155
602
510
523
453
422
535
1,170
1,609
80
1 299
1,952
119
23.41
20.91
33. 50
21.98
21.19
* 29. 00
6, 267
3 571
4, 550
2 562
4.962
2 785
16. 52
17.98
19.39
20. 50
10.7
12.0
13.5
13.8
1,069
1,289
319
1,218
1,267
203
1,289
1 295
147
1,088
1 038
83
1,190
1 173
113
23.88
21.25
22. 62
20.50
21.62
19.18
21 50
20. 52
22 38
20. 01
23 12
20.83
1,819
636
1,742
779
2,127
1,046
1,572
1, 044
1,2 712
989
1,390
3, 141
1,088
1,151
2,379
667
1,252
2,023
250
1,313
1,877
184
32.19
23. 57
31. 50
32. 09
22.76
33.00
31.37
22.31
33.00
28.77
20.50
29.00
26.04
21.73
30.50
3,592
2,203
4,290
2, 540
5, 492
3 099
5,772
3 326
7, 251
4, 233
19. 96
19. 98
19.11
18. 55
16. 76
11.6
12.1
11.2
12.2
11.5
926
' 1, 048
133
908
1,067
176
1,020
1,455
479
1,243
2,119
722
1,427
2, 228
788
28.12
0)
28.38
0)
28.38
24.25
28.62
24.63
25. 50
23.10
1,476
1,201
1,444
1,161
1,418
983
1,395
825
1, 527
696
T
r
MEATS
Total meats (including lard):
1,656
Production (inspected slaughter)
mil. of Ib.1,313
Stocks, cold storage, end of month
-do- _
94
Exports
-do
Beef and veal:
Production (inspected slaughter)
thous. of lb._ 557, 237
267, 437
Stocks cold storage, end of month
__do
1,116
Exports
do
Price, wholesale, beef, fresh, steer carcasses, choice
.560
(600-700 Ibs.) (New York)
dol. per lb._
Lamb and mutton:
48, 201
Production (inspected slaughter)
thous. of lb_.
14, 896
Stocks, cold storage, end of month .
...do ...
Pork, including lard, production (inspected
1,
050,
706
slaughter)
- - _ _ ... thous. of lb._
Pork, excluding lard:
759,
957
Production (inspected slaughter)
do
822, 006
Stocks cold storage, end of month
__do_._
8,512
Exports
_
- .-do _
Prices, wholesale:
.526
Hams, smoked, composite
dol. perlb-_
.448
Fresh loins 8-12 Ib average (New York) do
Lard:
Production (inspected slaughter)
thous. of Ib.- 213, 346
154, 272
Stocks, dry and cold storage, end of monthf-do
79, 627
Exports
~
do _
.153
Price, wholesale, refined (Chicago) ....dol. per lb-_
1,557
1,320
65
566, 992
252, 350
892
62
610, 297
224, 432
1,636
44
582, 712
201, 504
1,531
49
659, 036
171,444
1,666
50
669, 445
167, 437
1,240
37
713, 624
184, 158
1,150
55
801, 489
214, 594
1,365
59
662, 271
252, 306
1, 153
59
735, 078
286, 299
1,319
2
1,999
1,038
775, 091
287. 258
63
r
877
.564
.559
.540
.534
.559
45, 703
13, 067
45, 306
16, 141
41, 392
14,902
38, 601
11,814
43, 880
11,318
944, 623
820, 518
819, 934
720, 191
681, 587
760, 409
955, 425 1, 031, 841 1,335,205 1, 162, 504
682, 678
823, 741
7,997
594, 319
727, 665
8, 655
601,250
685, 033
9,285
525, 855
542, 707
10, 833
506, 990
407, 558
5,892
571, 228
290, 931
5,673
715,279
234, 894
5,768
765, 850
319, 643
7, 386
984, 200
489, 152
8,742
841, 949
595, 546
8, 605
.531
.430
.531
.550
.569
.535
.585
.552
.616
.612
.571
.569
.569
.515
.552
.449
.559
.402
191,803
177, 554
51, 552
.145
165,818
184, 595
46, 395
.145
160, 274
214, 678
29, 038
.145
141,823
208, 025
32, 421
.140
127, 696
167,718
37, 288
.138
138, 047
143, 223
26, 611
.143
175, 664
111,912
43, 043
.143
194, 381
136, 610
46, 638
.133
42, 273
232, 832
.295
41, 462
194, 965
.258
58, 058
185, 688
.225
52. 212
174, 040
.218
47, 806
157, 045
.215
52, 536
144, 508
.235
64, 955
182,786
.245
81, 748
279,191
.225
' 6, 386
2,325
6,191
2,220
5,983
2,037
5,032
1,427
4,463
1,571
4,155
1,140
4,108
1,069
1,596
84, 295
2,184
111,185
3,184
145, 863
3,357
166, 419
2,728
163, 359
2,169
144, 326
.382
.396
.359
.404
.525
.562
2
65
701, 489
274, 457
1,272
779, 450
252 339
.556
.545
.514
.477
.432
.392
61, 726
16,002
47, 505
17, 580
56,616
21,912
61, 371
20, 816
53, 166
23, 670
58, 129
20. 883
816, 995
874, 686
601 403
604, 813
9, 983
650 145
570, 491
.581
.424
.595
.464
p. 602
.479
256, 269
210, 994
44, 347
.113
234, 448
241,760
50, 867
.120
157,799
241,890
45, 881
.125
164, 072
239, 009
74, 618
294, 424
.250
70, 745
278, 595
.263
38, 884
261,072
.310
34 125
260, 606
.318
39 046
174, 597
.333
4,402
758
4, 510
957
5, 063
685
5,441
442
5 328
1,168
6 298
2,120
1,709
123, 661
1,000
95, 333
393
72, 462
153
50, 176
120
34 980
248
42 419
376
65 077
.553
.553
.631
.560
.489
.454
.443
.495
52, 839
12, 553 '
T
r
p. 135
POULTRY AND EGGS
Poultry:
Receipts 5 markets
thous. of Ib
Stocks, cold storage, end of month
do
Price, wholesale, live fowls (Chicago)§.dol. per lb. .
Eggs:
Production, farm
millions
Dried egg production
thous. of lb_ .
Stocks, cold storage, end of month:
Shell
- thous. of cases. _
Frozen
*
thous. of lb
Price, wholesale, extras, large (Chicago)
dol. per doz-.
r
r
MISCELLANEOUS FOOD PRODUCTS
Confectionery, manufacturers' sales*-, thous. of dol_.
Cocoa:
Imports
long tons. Price, wholesale, Accra (New York) .dol. per lb..
Coffee:
Clearances from Brazil, total
thous. of bags-To United States
do
Visible supply United States^
__do
Imports
do
Price, wholesale, Santos, No. 4 (New York)
dol. per lb-_
Fish:
Landings, fresh fish, Sports
thous. of lb__
78, 125
74, 423
60, 318
54, 335
47, 200
60, 948
99, 443
113, 374
101,012
101,394
87,060
83, 802
81, 213
30, 307
.384
24, 020
.381
28,764
.384
28, 786
.378
12, 977
.381
9,043
.354
8,705
.333
4,210
.340
13, 272
.318
37, 144
.308
32 530
.318
24 678
'300
P. 328
1,521
899
966
2,042
1,015
626
953
566
1,024
624
1,177
719
1,455
924
1,456
846
1,450
893
1,453
817
1,269
788
1, 160
757
1,374
776
1,707
1,126
1,228
1,408
1 454
1,601
1 045
'889
1 869
1 615
1 394
2 205
1 839
.548
.535
.533
.530
.545
.548
.545
.540
.535
.538
.540
37, 963
51, 478
58, 606
72,504
76, 851
64, 754
54, 114
49, 126
31, 529
26, 363
20. 492
850
756
691
579
605
611
529
691
712
776
1 815
r
.553
700
p. 618
23. 693
r
T
2
Revised.
Preliminary.
* No quotation.
Excludes lard; comparable figure for December 1952 is 922 mil. lb.
fRevised series. Compiled by the U. S. Department of Commerce, Bureau of the Census, representing factory and warehouse stocks of rendered and refined lard; data prior to February
1952 will be shown later.
§Series revised to represent quotations for heavy type.
*New series. Compiled by the U. S. Department of Commerce, Bureau of the Census, representing estimated total sales by manufacturers of confectionery and competitive chocolate products. The figures exclude sales of chocolate coatings and cocoa produced by chocolate manufacturers and sales by manufacturer-retailers with a single business location. Revised data for
January 1949Klune 1951 are shown in corresponding note in the September 1952 SUKVEY.
JFor revised data for July 1949-October 1950, see note marked "t" on P- S-29 of the January 1952 SURVEY.
SURVEY OF CURRENT BUSINESS
S-30
Msiy
1952
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
March
April
May
July
June
1953
August
September
October
November
December
January
February
2,170
1,970
2,679
3,801
Marcb
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS—Con.
Sugar:
Cuban stocks, raw, end of month
thous. of Spanish tons__
United States:
Deliveries and supply (raw basis) :
Production and receipts:
Production
short tons
Entries from off-shore
do
Hawaii and Puerto Rico
do
Deliveries, total
do
For domestic consumption
do
For export
do
Stocks, raw and refined, end of month
thous. of short tons_.
Exports, refined sugar
short tons _
Imports:
Raw sugar, total
do
From Cuba
do _
From Philippine Islands
do
Refined sugar, total
From Cuba
Prices (New York) :
Raw, wholesale
_
Refined:
Retail
Wholesale
Tea imports
_
_ _ do
do
dolperlb__
dol per 5 Ib
dol per Ib
thous. of Ib
TOBACCO
Leaf:
Production (crop estimate) J
mil. of lb.
Stocks, dealers' and manufacturers', end of quarter, total
mil. of Ib
Domestic:
Cigar leaf
do
Air -cured, fire-cured, flue-cured, and miscellaneous domestic
mil. of Ib
Foreign grown:
Cigar leaf
do
Cigarette tobacco
do
Exports, including scrap and stems - thous. of lb__
Imports, including scrap and stems
do
Manufactured products:
Production, manufactured tobacco, totaL . do .
Chewing, plug, and twist .
_.
do
Smoking
do
Snuff
. . _ do
Consumption (withdrawals) :
Cigarettes (small):
Tax-free
- - millions
Tax-paid.
. ._ ..
__.do-_
Cigars (largo), tax-paid
thousands
Manufactured tobacco and snuff, tax-paid
thous. of l b _ _
Exports, cigarettes
millions
Price, whosesale, cigarettes, manufacturer to
wholesaler and jobber, f. o. b. destination*
dol. per thous._
r
r
3,645
3,320
2,895
34, 190 i
617, 564 i
167, 422
9,971
573, 936
177, 671
91, 126
725, 621
237, 299
602, 545
387, 590
273, 166
732 540
226, 961
108, 362
388 838
194, 722
123 853
69 484
469, 755
149, 498
34 014
398, 576
143, 730
37 407
627, 988
192, 443
896. 355
894, 103
2,252
758, 308
755,061
3,247
734, 684
731, 376
3,308
744, 355
742, 146
2,209
680, 035
677, 919
2,116
519, 868
518, 373
1 495
596 070
593 793
2 277
576, 630
574, 789
1,841
546, 884
545, 674
1 210
878. 155
870. 548
1.607
1,400
31,620
1.114
28, 369
917
6,116
831
2,525
697
649
1,045
12, 376
1,518
r
625
1. 602
527
1,587
377
1, 513
10, 356
1. 300
344, 860
281, 355
62, 886
436, 800
310,072
126, 728
359, 836
199, 168
160 667
356, 970
208,611
148, 359
346, 907
245, 485
83, 858
305, 205
240, 343
63, 861
124, 473
96, 836
17, 875
120 331
102, 213
9 599
156 891
129 183
23 964
269, 495
205, 264
58 542
260, 306
178, 519
81 667
27, 245
26, 895
52, 053
51, 403
31, 464
30, 664
36, 198
35. 524
38, 106
33, 287
43, 038
41, 012
46, 738
43, 590
40, 675
35, 160
2,618
o
7 198
350
37, 924
32, 493
28, 173
25 614
.063
.062
.062
. 066
. 066
.064
.065
.066
.064
.060
.060
.062
r . 004
.476
.080
9,855
.489
.085
8,798
.492
.085
7,132
.492
.085
7,044
.494
.086
8,482
.494
.086
8 094
495
.086
9 506
.495
.086
7,430
495
.086
5 530
494
085
6 931
.493
.085
10 466
490
r
083
7 949
. 489
f . 086
3,033
4,033
24 680
692, 525
221, 145
29, 006
596, 991
180, 047
18, 150 I 46, 465
673, 682 503, 896
200, 747
142, 458
862, 191
860,
115
r
2, 076
612, 641
608, 995
3,646
596, 990
595,062
1,928
1,283
25, 423
401, 937
307, 151
»"94,754
' 1, 240
11,522
4,423
4,388
3,970
2,620 |
1 2 207
4,245
3,828
3,951
402
387
362
343
3, 648
3,244
3,410
3 963
19
176
25, 891
7, 466
18, 126
7, 685
27,078
8,978
19
179
27, 497
7, 987
17,912
6,705
7,729
3,478
18, 048
6, 898
7,852
3,298
18, 892
7,328
8,456
3,109
3,107
29, 878
478, 101
2,889
31, 774
491, 964
16, 759
1,566
3.555
_
4 493
26, 087
8, 966
34, 730
9,619
18
161
50, 451
9,173
41,777
9,584
43, 055
8,226
19
168
36, 739
7 736
30, 746
8,918
22, 900
8,290
18, 444
7,324
7,995
3,126
16, 319
6,827
7, 230
2,263
18. 554
7.011
8,373
3, 170
20, 051
7,366
9 406
3,279
21,342
7,936
9,781
3,625
16, 123
6,378
6 843
2,903
16, 369
6, 469
6 662
3,237
16, 682
6,394
6 893
3,396
16,385
6, 638
6 639
3,108
3,348
32, 920
496, 512
2, 365
34,511
496, 450
2,833
33, 837
504, 045
4,366
35, 972
485, 006
4,325
34, 950
526, 696
4,294
37, 372
624, 867
3,408
30, 386
497, 950
2,859
30, 066
438 744
2,650
32, 498
480, 818
2,394
'32,212
452, 150
18, 076
941
18,331
1,492
18, 443
1,043
15, 744
1, 329
18, 787
1,810
19, 287
1 266
21,392
1,304
15, 357
1 244
14, 984
1 626
17, 841
1 306
15, 849 |
1 348
17. 413
3.555
3.555
3. 555
3.555
3.555
3.555
3. 555
3.555
3.555
3.555
3. 555 i
f 3. 986
34, 500
i
501.930
LEATHER AND PRODUCTS
HIDES AND SKINS
Imports, total hides and skins J
thous of Ib
Calf and kip skins... _ _ _ thous. of pieces _
Cattle hides J
do
Goatskins t-- ---.do_
Sheep and lamb skins
_
- do_
Prices, wholesale (Chicago):
Calfskins, packer, heavy, 9^/15 Ibs.* dol. per lb_.
Hides, steer, heavy, native, over 53 lbs.*_--do
10, 388
27
74
1,770
1,998
16, 447
169
128
1,812
3,228
12, 771
127
87
2,015
1,565
19, 148
164
133
2, 320
4, 007
19, 460
211
232
3,416
1,903
16, 003
209
75
2,648
2,520
11, 963
194
90
2,804
1,100
13, 759
97
45
2,796
2,059
9,134
142
21
2,381
720
14, 149
182
50
3,771
1,195
12, 429
137
20
3,673
1,392
.325
.128
.275
.103
.388
.143
.388
.148
.425
.155
.450
.175
.475
.160
.488
.160
.513
.170
.488
.165
.488
.120
11, 264
72
38
2,458
1,431
v. 550
f . 137
* . 562
».127
LEATHER
Production:
792
685
914
732
703
769
967
994
Calf and kip
thous. of skins
1,046
930
847
857
1,782
1, 827
1,880
1,753
1,879
1, 610
2,224
r 2, 123
1,910
2, 093
Cattle hide
thous. of hides
1,959
1,995
2,417
2,337
2,440
2,595
2,430
2,293
2,338
2,939
2,989
r 2, 802
Goat and kid
thous. of skins
2,719
2,577
2,315
2,102
2,081
2,291
1,911
2,555
2,718
Sheep and lamb- ___
- - .-do _..
2,953
2,215
2, 243
2,441
2,368
Exports:
Sole leather:
16
25
10
39
56
60
75
25
65
82
Bends, backs and sides
thous of Ib
24
57
49
20
35
76
45
73
92
43
51
Offal, including belting offal
do
33
13
96
2,134
2,587
2,270
2,482
2,440
3, 125
2, 798
Upper leather
thous. of sq. ft..
2,288
2,818
2,743
2,512
3,000
Prices, wholesale:
.705
.705
.695
.670
.670
.710
.710
.690
Sole, bends, light, f. o. b. tannery*. --dol. per lb._
.685
.705
* . 689
.705
.680
Upper, chrome calf, B and C grades, f. o. b. tan.848
.873
.835
.805
.928
.842
.890
.987
.938
.955
nery*
dol. per sq. f t _ _
.968
v 1. 013
» 1. 000
r
l
2
Revised.
» Preliminary.
December 1 estimate.
Specification changed; earlier data not strictly comparable.
^Revisions for tobacco (1944-49) are shown in note marked "§" in the September 1952 SURVEY; those for the indicated series for hides and skins (1950) in note marked "J" in the October
1951 issue.
*New series. Compiled by 17. S. Department of Labor, Purtau of Labor Statistics; data prior to August 1951 for sole leather and prior to February 1951 for other indicated series will be
shown later.
SUKVEY OF CURRENT BUSINESS
May 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-31
1953
1952
April
March
May
June
|
1
July
1
| August
September
October
November
December
January
February
March
LEATHER AND PRODUCTS—Continued
LEATHER
MANUFACTURES
Shoes and slippers:}:
Production, total
thous. of pairs
Shoes, sandals, and play shoes, except athletic,
total
thous. of pairs
By types of uppers: d"
All leather
do
Part leather and nonleather. ___ _ _ do _
By kinds:
Men's
do
Youths' and boys'
do
Women's
do
Misses' and children's
do
Infants' and babies'
do_ _
Slippers for housewear
do
\tiiletic
do_ .
Other footwear
do
Exports§
__ _ _ _ do
Prices, wholesale, f. o. b. factory:*
Men's and boys' oxfords, dress, cattle hide
upper, Goodyear welt
dol. per pair__
Women's oxfords (nurses'), side upper, Goodyear welt
dol. per pair__
Women's and misses' pumps suede split do
43, 967
43, 082
41,436
39, 747
38, 520
46, 552
44, 100
46, 341
38 932
42, 033
45, 268
44, 872
40, 142
38, 879
37, 248
35, 408
33, 946
40, 703
37, 842
39, 185
32 659
37 303
41, 778
40, 967
34, 408
5, 734
32, 658
6,221
31,536
5, 712
30, 735
4,673
29, 938
4,008
36, 385
4,318
33, 906
3,936
35, 057
4,128
29 080
3,579
32, 750
4, 553
36, 278
5,500
35, 336
5,631
8,531
1,374
21,191
5, 785
3,261
3,277
223
325
400
8, 613
1,369
20, 363
5, 292
3, 242
3, 647
216
340
386
8, 462
1,492
18, 973
5, 168
3,153
3,626
209
353
352
8,279
1,586
17,926
4,728
2,889
3,816
181
342
280
7, 256
1,485
18, 385
4, 393
2,427
4,070
169
335
246
8,986
1 949
21, 910
5,135
2,723
5 249
234
366
331
8 775
1 826
19 419
5 040
2,782
5 638
264
356
386
9 339
1 709
19 446
5 553
3,138
6 442
286
428
433
7 866
1 442
15 580
4 882
2 889
5 668
237
368
346
9 010
1 539
18 028
5 585
3 141
4 161
229
340
305
8,953
1 558
21 718
6 257
3.292
2 946
226
318
293
8,745
1 515
21 005
6, 298
3,404
3 369
238
298
388
5. 523
5.311
5. 126
5. 126
5.126
5.126
5.126
5.126
5.151
5. 214
5.214
r 5. 064
v 5, 064
4.861
4.678
4.646
4. 646
3.700
4. 479
3.700
4.479
3 700
4.479
3 700
4.479
3 700
4. 529
3 700
4. 629
3 716
4. 629
3 716
4.629
v 3 716
* 4. 629
P 3 716
1
LUMBER AND MANUFACTURES
LUMBER— ALL TYPES
Export^ total sawmill products
M bd. ft
Imports, total sawmill products
do
National Lumber Manufacturers Association:©
Production total
mil bd ft
Hardwoods
do
Softwoods
do
Shipments total
do
Hardwoods
do
Softwoods
do
Stocks, gross (mill and concentration yards), end
of month total
mil bd ft
Hardwoods
do
Softwoods
do
SOFTWOODS
Douglas fir:©
Orders, n e w
_ _ _ _ _ _ do
Orders unfilled, end of month
do
Production
__ _ do
Shipments
do
Stocks, gross, mill, end of month
do
Exports, total sawmill products
M bd. ft_.
Sawed timber
do
Boards, planks, scantlings, etc
do
Prices, wholesale:
Dimension, No. 1 common, 2" x 4", R. L.
dol. per M bd. f t _ _
Flooring, B and better, F. O., 1" x 4", R. L.
dol. per M bd. f t _ _
Southern pine:©
Orders, new
mil. bd. ft
Orders, unfilled, end of month _ _
do
Production
do
Shipments
do
Stocks, gross (mill and concentration yards), end
of month
mil bd ft
Exports, total sawmill products
M bd. f t _ _
Sawed timber
_
do
Boards, planks, scantlings, etc
do
Prices, wholesale, composite:
Boards, No. 2 and better, 1" x 6" x R. L.*
dol. per M bd. f t _ _
Flooring B and better, F. G., 1" x 4" x S/L*
dol. per M bd. ft._
Western pine:©
Orders new
mil. bd ft
Orders, unfilled, end of month
do
Production
do
Shipments
_ do
Stocks, gross, mill, end of month
do
Price, wholesale, Ponderosa, boards, No. 3 common, I" x 8"
_
dol. per M bd. ft
69, 791
203, 316
75, 651
190, 425
68, 809
209,112
61,137
221 , 006
48,717
183, 140
67, 746
200, 342
48, 534
227, 340
40, 949
255, 581
44. 363
241,379
61,470
243. 479
54, 326
189, 269
62, 158
195, 457
2, 958
670
2,288
2 950
645
2. 305
3, 162
612
2,550
3 217
612
2, 605
3, 030
604
2,426
2 996
604
2, 392
3, 158
614
2, 544
2, 999
558
2,441
3, 196
630
2, 566
3. 030
569
2, 461
3, 398
705
2. 693
3,305
656
2, 649
3, 464
701
2, 763
3, 450
685
2,764
3, 528
692
2,836
3,496
720
3, 030
691
2,339
3,001
708
2,293
2 883
618
2, 265
2, 857
630
2, 227
2,960
658
2,302
3,011
704
2,307
2,929
677
2,252
2,966
738
2,228
3,284
638
2,646
3, 356
783
2,573
8, 106
3, 075
5, 031
8,016
3,075
4,941
8, 046
3, 075
4,971
8,204
3, 131
5, 073
8, 343
3,192
5,151
8, 436
3,241
5, 195
8,451
3, 256
5,194
8, 509
3,228
5, 281
8,477
3.211
5,266
8,481
3,199
5,282
8.236
3,152
5,084
8, 232
3,091
5,141
8. 163
2,947
5,216
806
961
860
835
993
37, 177
9,292
27, 885
906
904
919
949
903
43, 300
19, 090
24, 210
727
848
746
771
878
32, 418
10,498
21, 920
775
828
829
784
923
31,621
7,121
24, 500
900
990
778
727
948
19, 542
8,886
10, 656
865
921
920
920
948
36, 450
12, 369
24, 081
913
812
961
1,007
902
18, 856
7,268
11, 588
919
758
943
929
945
15,843
7,462
8,381
768
755
795
759
982
14, 100
4,156
9,954
804
820
816
735
1,043
16, 455
4,984
11, 471
878
879
848
805
991
22, 119
6,783
15, 336
802
904
838
835
1,028
17, 815
6, 663
11, 152
959
925
967
940
1,057
82. 887
85. 239
84. 840
84. 840
86. 303
86. 436
86. 576
86. 576
86. 310
84. 945
125. 432
125. 759
124. 942
122. 868
121.234
120. 418
120. 418
120. 418
122.051
124. 460
700
318
688
709
744
300
758
762
749
296
780
753
752
334
699
714
756
326
735
764
759
365
705
720
776
372
747
769
802
376
787
798
677
372
670
681
599
295
708
676
758
320
767
733
692
350
700
662
752
356
767
746
1,610
10, 278
2, 400
7,878
1,606
10, 276
1,364
8,912
1, 633
11,018
5, 665
5. 353
1, 618
8, 1 50
1,993
6, 157
1,589
6, 477
1,928
4, 549
1, 574
5, 985
1, 351
4,634
1, 552
5, 317
1,152
4,165
1,541
4,300
1,104
3,196
1,530
6,163
1,776
4,387
1. 562
11,517
1,529
9,988
1, 596
9, 345
1,327
8,018
1,634
7,379
3, 016
4,363
1,655
84. 665
' 84. 105
p 83. 457
124. 460 *• 125. 105 * 126.218
79. 765
79. 676
79. 662
78. 815
79. 250
80. 260
81. 483
81.572
81.921
82. 113
155. 061
155. 061
155. 061
155. 406
156. 068
158. 322
158. 358
158. 971
158. 971
158. 971
498
465
451
473
1,585
608
602
564
579
1, 594
609
501
592
571
1, 615
680
548
698
633
1, 680
739
610
753
678
1,755
737
656
737
687
1,805
719
675
709
650
1,864
737
657
747
706
1,905
592
613
572
561
1, 855
614
628
462
550
1,767
610
670
426
518
1.675
531
657
429
444
1,660
586
643
554
550
1, 644
80. 39
82. 10
82.28
83.51
83.50
83.54
83.23
81.55
81.31
82. 65
83. 61
'83. 64
v 84. 08
269, 857
269, 732
85, 350
282, 864
282, 070
85, 800
231, 160
230, 155
86, 033
269, 066
273, 123
81, 849
224, 756
211,998
92, 747
281,488
274, 449
101, 103
292, 489
290, 201
102, 614
303, 863
303, 237
103, 498
235, 439
239, 002
99, 507
266, 521
269, 455
96, 265
289, 083
290, 689
97, 619
299, 963
298, 803
98, 163
81. 402
' 81. 180 p 80. 636
159. 583 ' 159. 706
p 159.275
SOFTWOOD PLYWOOD
Production
thous. of sq. ft., %" equivalent _ _
Shipments
do
Stocks, end of month
_ __ do
HARDWOOD FLOORING
Maple, beech, and birch:
Orders, new
M bd ft
3, 600
3,550
3,575
2,850
4,100
3,450
4,050
3, 900
3,800
3, 650
4,300
4,850
4, 525
Orders, unfilled, end of month
do
11, 700
10, 700
10, 200
9,600
9,700
9,650
9,500
9, 600
9,650
9,600
9,325
9, 650
9. 900
Production
_
_
_
do
4,350
4, 300
3,650
3,400
3,000
3,900
4,000
4,200
3, 200
3,900
4,000
3,900
4,200
Shipments
do
3,800
3,350
3 650
3,550
3,675
2,950
4,250
3,800
3,650
3,350
3, 550
4,050
4, 250
Stocks, mill, end of month _ _
do
9.475
8.600
9.575
9,400
8,900
8,650
9,675
10, 175
10, 000
10, 200
10, 275
10, 550
10, 525
r
Revised.
f Preliminary.
1 Specification changed; not comparable with earlier data.
JRevisions for January-October 1950 are available upon request.
c^The figures include a comparatively small number of "other footwear" which is not shown separately from shoes, sandals, etc., in the distribution by types of uppers- there are further
small differences between the sum of the figures and the totals for shoes, sandals, and play shoes, because the latter, and also the distribution by kinds, include small revisions not available by
types of uppers.
§Excludes "special category" items.
*New series. Data are compiled by the U. S. Department of Labor, Bureau of Labor Statistics; monthly data prior to March 1951 (February 1951 for softwoods) will be shown later
©Revised monthly data for 1948-50 will be shown later.
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
M;iv
19 52
March
April
May
June
1953
August
July
September
November
December
January
87, 303
57, 998
91, 034
94, 691
69, 603
63, 707
50, 843
76, 794
74, 393
72, 004
73, 232
56, 093
72, 716
67, 982
76, 738
89, 979
66, 898
78, 157
78, 556
76, 339
87, 638
76, 823
72, 283
77, 265
69, 323
328, 121
12, 147
149,311
5,254
320, 1 24
24,012
136, 349
10, 846
October
February
March
LUMBER AND MANUFACTURES—Continued
HARDWOOD FLOORING— Continued
Oak:
Orders new
Orders unfilled, end of month
Production
Shipments
Stocks mill end of month
M hd. ft
do
do
do
do
_ _
80. 919
76, 931
75, 660
77. 366
81, 168
89, 018
79, 142
82, 922
84, 643
77, 817
84, 306
78, 777
84, 953
84, 671
77, 257
64, 926
69, 938
79, 701
77, 844
77, 096
70, 446
66, 775
79, 941
79, 428
77, 609
75, 162
61,721
80, 074
81, 531
75, 371
81, 178
61,132
82, 021
84, 132
73, 260
98, 269
86, 161
79, 615
85, 226
62, 064
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Iron and steel products (excl. advanced rnfrs.):
Exports, total _ _
_
- short tons__
ScrapO
do
Imports total
do
Scrap
do
502, 780
17, 074
148, 562
12,115
483, 092
21, 200
119, 661
13, 441
529, 414
29, 928
99, 260
7,635
340. 490
42. 058
92, 539
2.829
223. 832
54, 735
89, 559
4,805
302, 079
36, 708
111,957
7, 601
367, 876
21, 991
142, 336
8,024
448, 197
39,176
221,304
5,133
387, 319
19, 790
177, 224
11, 767
439, 064
19, 692
205, 599
8,092
6,611
3,407
3,204
5,072
1,178
3.894
6,004
3,027
2,977
5, 473
1,236
4,238
6.014
3, 034
2,980
5, 861
1,263
4,598
2, 295
985
1, 309
6, 245
1,272
4, 973
2, 201
906
1, 295
6. 590
1, 299
5.291
6, 127
3, OHO
3. 067
7, 027
1,379
5,648
6,477
3, 270
3.207
7,045
1,388
5, 658
7, 007
3, 573
3,434
7,033
1,428
5, 605
6, 676
3, 444
3,231
6,936
1,350
5, 586
6,820
3,490
3, 330
6,910
1,329
5,581
3,714
2,341
10,236
9,073
8,655
10, 629
13, 693
13, 769
10, 551
1, 552
3,163
8,940
2,783
1,805
9, 906
14. 974
15,992
8,888
15, 912
16, 301
8,500
14, 271
15,588
7,183
9,448
11, 531
5.119
0
674
6,532
6, 616
19, 592
16, 487
3, 105
687
12, 497
6, 932
25, 904
22, 230
3,675
699
2,487
1.403
27, 1 70
22, 611
4, 559
860
1.904
1, 544
27. 388
22, 904
4,484
726
14, 368
7, 243
34, 137
29, 449
4,688
847
14. 389
7, 659
41,532
36, 206
5,326
1,172
13. 013
8,048
47, 839
41, 699
6, 140
1,065
73
80
63
47
58
63
64
1, 711
1,172
661
1, 614
1, 205
653
1,459
1, 101
620
1.446
835
502
1, 410
636
432
1, 513
1,002
602
196, 896
80, 960
49, 084
198, 215
89, 270
56, 337
180, 382
81, 770
51, 476
173. 353
74, 446
46, 511
166. 517
45, 266
29, 675
6, 300
6,219
5, 225
5,280
5, 492
5, 402
1,068
1,110
1. 003
946
Iron and Steel Scrap
Consumption, total§
thous. of short tons
Home scrap
_ _
__ _
_ _ do _ _
Purchased scrap
__. . _ _ . _ _ - _.
do. ..
Stocks consumers', end of month, total§
do
Home scrap
__ _
do
Purchased scrap
do
r
7, 008
3, 579
3,429
6,632
1,314
5,317
'r 6, 499
3, 343
3,156
'T 6, 722
1, 295
r
5, 427
7,320
3, 724
3, 596
6, 570
1,249
5,321
3. 260
2,970
5, 449
3.387
2,002
6,824
3,214
1,909
8,149
4, 113
2,181
10, 031
9,295
7,826
51, 208
44, 318
6,890
1.012
427
8,220
45, 172
39, 055
6, 116
746
0
8,293
37, 077
31, 967
5,110
681
0
7, 396
29, 949
25, 741
4,207
576
313
8, 257
22, 065
19, 026
3,039
90
88
157
141
95
1,451
1,119
626
1,392
1, 233
684
1,309
1,061
590
1. 316
1, 142
619
1,333
1.162
622
1, 332
1, 136
607
162, 832
63.716
39, 308
168, 367
75, 950
45, 849
168, 609
88, 062
52, 922
167. 842
76, 099
46, 708
173, 494
80, 680
50, 485
174, 809
87, 249
53, 272
175, 088
86,515
51, 963
5, 831
5, f>71
6,164
6. 007
6,515
6,510
6,227
6.128
6, 510
6, 367
6,564
6,478
Ore
Iron ore:
All districts:
Mine production --thous. of long tons
Shipments
do
Stocks, at mines, end of month
do
Lake Superior district:
Shipments from upper lake ports
do
Consumption bv furnaces _.„
_ _ . .do Stocks end of month, total
do
At ^urnaces
do
On Lake Erie docks
do
Imports
do
Manganese ore, imports (manganese content)
thous of long tons
' 8, 032
21, 451
18, 082
3,369
Pig Iron and Iron Manufactures
Castings, gray iron:§
Orders unfilled for sale
thous of short tons
Shipments, total
do
For sale
do
Castings, malleable iron:§
Orders unfilled, for sale
. _ _ _ short tons
Shipments total
do
For sale
_ _
do
Pig iron:
Production
thous. of short tons
Consumption §
do
Stocks (consumers' and suppliers'), end of month §
thous. of short tons-_
Prices, wholesale:
Composited1 - --- - _.-dol. per long tonBasic (furnace)
-.- - do
Foundry, No. 2, f. o. b. Neville Island. . do
r
r
5, 882
5, 832
6, 677
6, 578
1,789
1, 715
1,729
1,669
1,689
1,801
1.864
1,830
1,897
1, 963
1,852
1, 884
1,894
53. 67
52. 00
52. 50
53. 67
52. 00
52. 50
53. 80
52. 00
52. 50
53.81
52. 00
52. 50
54.26
52. 00
52. 50
56. 31
54. 50
55. 00
56. 31
54. 50
55. 00
56. 31
54. 50
55. 00
56.31
55. 00
56.31
54. 50
55. 00
i 54. 73
54. 50
55. 00
54. 73
54. 50
55. 00
54.73
* 54. 50
P 55. 00
148, 259
110,467
22, 287
161,733
122, 166
25, 972
167, 211
126, 819
26, 752
175, 675
137, 592
33, 156
54. 50
Steel, Crude and Semimanufactures
Steel castings:
119,036
173, 694
173, 635
141, 628
150, 232
175. 075
158,392
165, 155
Shipments total
short tons
134, 325
114, 410
97, 633
131, 997
132. 129
113, 997
124, 626
121,402
For sale total
do
20. 752
32, 118
33. 549
35, 227
24, 013
30. 455
19, 930
22, 610
Railway specialties
do
Steel forgings:!
1, 359, 752 1, 349, 288 1, 318, 889 1, 248, 204 1, 289, 597 21,399,969 1,391,998 1, 393, 137
Orders unfilled total
do
96. 828 2120,966
176, 441
168, 286
155, 840
135, 398
149, 642
178, 475
Shipments for sale total
do
125, 736
114, 271
69, 165
127, 768
101. 861
2 79,535 107,966
130, 515
Drop and upset
do
48, 673
41, 569
42, 550
33, 537
27, 663
241,431
41, 676
47, 960
Press and open hammer
do
Steel ingots and steel for castings:
9,404
7,991
8, 205
1,639
1. 627
8, 499
9. 062
9, 807
Production
thous. of short tons
102
90
89
18
92
18
102
107
Percent of capacity | - _
Prices, wholesale:
. 0476
.0498
.0471
.0471
.0471
.0498
.0471
.0498
Composite, finished steel
- - - dol. per Ib
Steel billets, rerolling (producing point)
56. 00
56. 00
56. 00
56.00
59. 00
56. 00
59.00
59.00
dol. per short ton._ '
. 0420
. 0400
.0400
.0400
.0400
.0400
.0420
.0420
Structural steel (producing point)
dol. per lb_.
Steel scrap, heavy melting (Pittsburgh)
44. 00
44.00
44.00
44.00
44.00
44.00
44.00
44.00
dol. per long ton.i
Steel, Manufactured Products
1,398,863 1, 207, 058 1, 206, 550 1, 199, 151
180, 538
155, 630
183, 709
183, 545
133, 851
112,622
137, 221
135, 682
46, 687
43, 008
46, 324
48, 027
9,439
106
9, 690
106
9,897
99
8,932
99
10, 153
102
.0498
.0498
.0498
.0498
.0498
59.00
. 0420
59.00
. 0420
59. 00
.0420
59.00
.0420
p 59. 00
P. 0420
44.00
44. 00
44.00
44.00
44.00
Barrels and drums, steel, heavy types:
r
7,484
6,406
6,502
7,737
7, 052
6,133
4,952
5,733
4,884
5, 396
5, 174
Orders, unfilled, end of month . ._ thousands..
5, 052
4,878
1,629
1, 964
1,655
2,008
2,207
2,117
2,188
1,892
2,277
2, 046
1,798
1,670
Shipments
do
1,981
25
34
35
41
58
51
48
62
36
28
48
63
Stocks, end of month
do
68
r
J
2
Revised.
» Preliminary.
See note marked "cP" for this page.
gee no t e marked "V' for this page.
©Data beginning 1951 have been adjusted in accordance with the revised export schedule to exclude exports of tinplated circles, strips, etc.
§ Data beginning January 1951 are estimated totals derived from a survey of approximately 1,300 establishments by the Bureau of Mines and the Bureau of the Census.
cPBcginmng January 1953, new weighting factors have been introduced and delivered prices eliminated. Quotations comparable with earlier prices may be derived by adding $1.58 (plus a
very small adjustment for any freight-rate increases) to the stated prices.
IData beginning August 1952 are estimated industry totals based on reports from producers whose shipments in 1947 accounted for 98 percent of total shipments; unfilled orders are for
commercial forgings only, i. e., exclude forgings for own use. Data for May 1951-July 1952 are as reported by producers whose shipments averaged 50 tons or more per month; unfilled oiders
for this period include captive shipments.
J For 1953, percent of capacity is calculated on annual capacity as of January 1, 1953, of 117,547,470 tons of steel; 1952 data are based on capacity as of January 1, 1952, of 108,587,670 tons.
SURVEY OF CURKENT BUSINESS
May 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-33
1952
March
April
May
June
July
1953
August
September
October
November
December
January
February
March
METALS AND MANUFACTURES—Continued
IRON AND STEEL— Continued
Steel, Manufactured Products—Continued
Cans, metal, shipments (in terms of steel consumed),
total
short tons
Food
do
Nonfood
do
Shipments for sale
do
Commercial closures production
millions
Crowns production
thousand gross
Steel products, net shipments:
Total
thous. of short tons
Bars hot rolled— All grades
do
Reinforcing
do
Semimanufactures
do
Pipe and tubes
do
Plates
do
Rails
do
Sheets
do
Strip — Cold rolled
do
Hot rolled
do
Structural shapes heavy
do
Tin plate and terneplate
do
"Wire and wire products
do
266, 920
157, 279
109, 641
228, 841
962
25, 357
287, 223
173, 414
113,809
240, 976
1,104
27, 774
277, 629
175, 158
102, 471
239, 311
1,071
30, 241
333, 416
218, 947
114, 469
287, 127
1,010
30, 773
423, 894
293, 370
130, 524
388, 040
998
28,531
465, 820
348, 906
116, 914
421, 221
1J126
29, 462
460, 155
348, 500
111,655
405, 368
1,146
33, 060
355, 341
240, 159
115, 182
304, 836
1,229
33, 467
245, 036
152, 116
92, 920
207, 193
992
24, 875
256, 206
158, 612
97, 594
218, 342
1,138
27, 012
269, 597
167, 764
101, 833
226, 078
1,186
26, 616
252, 084
151, 200
100, 884
214, 330
1,138
24,696
6,890
801
193
317
872
784
162
1,609
156
170
431
478
465
5,922
693
144
292
718
658
128
1,434
143
143
354
398
422
5,947
740
158
305
723
637
133
1,484
140
156
361
334
403
1,250
123
28
55
182
110
11
321
62
33
36
104
85
1.414
130
35
120
152
107
3
425
59
35
29
125
108
6,312
744
188
306
717
680
121
1,567
127
155
428
479
416
6,542
787
181
352
797
649
148
1,639
156
192
386
412
447
7,156
846
197
377
861
709
156
1,819
189
207
412
435
497
6,648
828
153
350
783
679
145
1,714
166
194
416
388
443
7,105
865
211
395
857
720
153
1,843
179
196
422
373
454
7,068
853
146
358
832
714
166
] , 851
190
203
418
433
458
6, 533
779
156
335
804
659
148
1,695
167
183
395
373
435
77, 069
311,137
76, 880
209, 286
80, 803
239, 782
77, 476
272, 633
78, 368
318, 763
85, 175
305, 987
76, 882
307, 644
77,312
374, 602
74, 639
296, 613
83, 419
334, 147
89, 895
299, 415
92, 649
283, 599
104, 460
.0750
.0825
. 0995
243. 6
55.6
187.9
110.7
.402
240.7
54.9
185. 7
109.2
.402
214.1
127.1
p. 429
«• 72, 367
80, 393
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production primary
short tons
Imports bauxite
long tons
Price, wholesale, scrap castings (N. Y.)
dol. per lb__
Aluminum fabricated products, shipments,
m
total cfO
il of lb
Cast in "sQ
do
Wrought products, total d*
do
Plate sheet and strip
do
Brass sheets, wholesale price, mill
dol. per l b _ _
Copper:
Production:
Mine production, recoverable copper
short tons__
Crude (mine or smelter, including custom intake)
short tons
Refined
do
Deliveries, refined, domestic
. _
do_
Stocks, refined, end of month
do
Exports refined and manufactured
do
Imports total
do
TTnrefined including scrap
do
Refined
do
Price, wholesale, electrolytic (N. Y.)--dol. per l b . _
Lead:
Ore (lead content):
Mine production
short tons
Receipts by smelters, domestic ore
do
Refined (primary refineries) :
Production _
~
do ._.
Shipments (domestic)
do
Stocks, end of month
_ .... _ do Price, wholesale, pig, desilverized (N. Y.)
dol. per l b _ _
Imports, total, except mfrs. (lead content)
short tons
Tin:
Production, pig
long tons
Consumption pig
do
Stocks, pir end of month, total
do
Governments
do
Industrial
do
Imports:
Ore (tin content)
do
Bars blocks pigs etc
do
Price, wholesale, Straits (N. Y.)-- ---dol. per Ib .
Zinc:
Mine production of recoverable zinc
short tons.
Slab zinc:
Production
_ .. _ .
. .
_ _
do
Shipments, total
do
Domestic
do
Stocks, end of month
do
Price;, wholesale, prime Western (St. Louis)
dol. per Ib.. _
Imports, total (zinc content)
short tons
For smelting, refining, and export
do
For domestic consumption:
Ore (zinc content)
_ . _ ..
do
Blocks, pigs, etc
do
.0775
.0775
.0768
.0725
.0708
.0740
200.1
46.4
153.6
82.9
.383
209.7
49.8
159.9
85.1
.383
205. 5
47.8
157. 8
86.5
.383
200.9
45.3
155. 5
87.7
.383
188.8
40.1
148.7
86.1
.402
206.3
46.8
159.6
92.2
.402
79, 229
80, 528
82, 227
73, 923
76, 284
87,110
94, 563
112,719
58, 487
15, 303
48, 272
25, 928
22, 344
.2420
89, 479
98, 402
107, 579
61, 223
19, 494
42, 970
23, 318
19, 652
.2420
92, 946
97, 593
105, 860
55, 351
20, 252
37, 172
14,314
22, 858
.2420
80, 392
92, 151
98, 416
70, 856
18, 347
33, 061
26, 338
6,723
.2420
81, 601
96, 049
115,384
73, 657
15,435
66, 380
38, 938
27, 442
.2420
33, 432
41, 251
34, 496
35, 762
33, 824
36, 149
31,002
32, 962
48, 943
39, 161
41, 040
39, 329
38, 225
41,820
45, 546
28, 591
58, 775
38, 987
39, 563
58, 190
.0750
-0750
. 0750
. 0750
211. 2
145.4
165.7
95.8
.402
235.5
51.6
183.8
107.6
.402
212. 1
46.5
165.6
98.2
.402
232. 0
53. 3
178.7
103. 7
.402
74, 166
74, 907
79, 207
75, 730
77, 907
77, 594
79, 368
95, 366
127,910
83, 771
14, 604
61, 122
21, 366
39, 756
.2420
82, 426
98, 930
135, 486
71,456
20, 945
67, 817
25, 605
42,212
.2420
84, 824
105, 770
138, 759
59, 760
18, 226
59, 910
21, 028
38, 882
.2420
80, 436
100, 075
125, 338
69, 237
13,016
59, 230
24 016
35, 214
.2420
85, 239
113, 965
143, 088
58, 858
16, 257
70, 300
24, 531
45, 769
.2420
81,625
108, 010
125, 133
59, 836
8,079
50, 138
23 589
26, 549
.2420
' 83, 653
101, 538
117, 204
60, 944
6,030
62, 476
33 320
29, 156
.2497
99, 932
112, 016
113, 462
55, 807
29, 862
28, 829
30, 232
32, 393
30. 386
32, 919
33, 523
33. 770
29, 160
30, 537
29, 542
32, 769
30, 839
30, 697
' 29, 458
30, 388
30, 494
32, 660
37. 489
51,534
4.4.140
41.836
45, 499
39, 767
42, 791
49, 850
31. 837
51,521
43.150
37. 718
49, 806
51.271
35, 686
48, 651
40, 370
43, 560
47, 295
37, 678
52, 760
45, 423
38, 811
58, 949
47, 993
44, 361
62, 371
1
r
r
.1900
.1892
.1573
. 1526
. 1600
. 1600
.1600
.1440
.1416
.1413
.1419
81. 496
57,770
73, 448
67, 703
33. 085
40, 202
47, 190
59, 392
41, 305
85. 133
47 999
42, 102
2.022
1, 989
3, 919
26, 172
15,458
10.714
1,952
3, 751
33, 093
22, 741
10, 352
2
189
1,789
26, 301
15,904
10. 397
2
163
1, 933
31, 037
21, 009
10 028
2
231
4, 553
25, 233
16, 411
r
8 822
2,732
4,527
25, 273
15,534
r
9 739
3, 601
5, 038
24, 815
14, 266
10, 549
4, 205
4,615
24, 124
13, 659
10, 465
4,021
4, 994
25, 939
13, 265
12 674
5. 481
6,619
1.2150
2, 378
8,711
1. 2150
1,136
7 586
1. 2138
3 862
7 728
1.2150
4,101
5 251
1. 2150
4,489
18, 242
9,004
r
9, 238
821
7,752
1. 2150
r
10,894
1. 2150
r
934
7,413
1. 2150
T
3,070
9, 951
1.2150
r
r
r
4, 869
6,883
1. 2123
2, 177
5 860
1.2127
r
3,277
7,180
1.2147
. 1350
.2929
.1340
1.2140
60. 904
61.211
62, 663
57, 068
50, 642
49, 482
48, 748
53, 346
48, 899
49, 789
53, 731
49, 506
51, 019
85, 028
85, 575
79, 897
26, 004
83.011
85, 592
72, 716
23, 423
83, 797
74, 076
63, 701
33, 144
77, 463
47, 205
35. 709
63, 342
76, 930
43, 353
38,714
96. 919
78, 167
78, 435
72, 963
96, 651
76, 019
78, 129
69, 343
94, 541
80, 588
79, 787
71,659
95, 342
78, 563
90, 756
81, 439
83. 149
81, 363
77, 352
71, 175
87, 160
81, 994
80, 679
77, 573
88, 475
76, 899
71.710
67 729
93, 664
83, 485
77, 285
72 388
99, 864
. 1950
123.097
6. 821
.1950
121,925
7,993
. 1950
104.188
5, 047
.1574
106, 743
2. 097
. 1500
79,315
832
. 1406
9 470
1,164
. 1398
14 976
1. 371
.1330
21 3°2
2,939
. 1250
23 235
2, 555
. 1250
27, 232
1, 532
. 1259
27 586
834
.1148
27 475
984
.1103
107, 772
8. 504
106, 337
7,595
92, 264
6,877
98, 159
6,487
62. 578
15, 905
4,088
4, 218
4,454
9 151
6, 105
12, 278
7,027
13 653
3, 686
22.014
6 809
19 943
7,837
18 654
9,161
81,800
9,480
87, 814
13,346
90. 225
16, 962
88. 017
17, 285
79. 487
24, 037
73, 627
29, 455
63. 833
33 552
55, 159
23 087
51. 470
14. 088
54, 618
11 522
60 568
13 280
65 219
2.074
8, 893
1, 760
10. 010
2, 145
9, 665
2,925
8,782
2.915
7,676
3,974
6,507
4,729
5,032
4,962
4.199
3,814
3,422
2,591
3,859
2,634
4,044
2, 297
4,028
HEATING APPARATUS, EXCEPT
ELECTRIC
Boilers, radiators and convectors, cast iron:
Boilers (round and square):
Shipments
thous. of Ib
Stocks, end of month ..
do
Radiation:
Shipments _ _ . . _ _
. .. ._. thous. of sq. ft. _
Stocks, end of month
do
r
Revised.
pPrelim
d industry totals based on reports
products, 218.3.
SUKVEY OF CUKRENT BUSINESS
S-34
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
IS>52
March
April
May
1
Juno
July
1953
August
September
October
No v c m
b er -
December
January
February
March
METALS AND MANUFACTURES—Continued
HEATING APPARATUS— Continued
Boilers range shipments
number
Oil burners:
Orders, unfilled, end of month _
.. _
_ do
Shipments
do
Stocks end of month
do _
Stoves and ranges, domestic cooking, excl, electric:
Shipments total
number
Coal and wood
- __do__ _
Gas (incl. bungalow and combination)
do
Kerosene gasoline, and fuel oil
do _
Stoves, domestic heating, shipments, total___do
Coal and wood
do
Gas
do
Kerosene, gasoline, and fuel oil
.
do _
Warm-air furnaces (forced-air and gravity ait-flow),
shipments, total
__
number
Gas
- -_ _ -do
Oil
do
Solid fuel
_ _ _
do
Water heaters, nonelectric, shipments
do
MACHINERY AND APPARATUS
Blowers, fans, and unit heaters, quarterly:
Blowers and fans, new orders
thous. of dol
Unit heater group new orders
do
Foundry equipment (new), new orders,
net._
1937-39=100
Furnaces, industrial, new orders:
Electric
thous. of dol
Fuel-fired (except for hot rolling steel)
do
Machine tools:
New orders
1945-47 = 100
Shipments
_
_ _
do
Mechanical stokers, sales:
Classes 1, 2, and 3
_
number
Classes 4 and 5:
Number
Horsepower
_ _ _ _ _
Pumps, steam, power, centrifugal and rotary, new
orders
thous. of dol
ELECTRICAL EQUIPMENT
Batteries (automotive replacement only), shipmentsf
thousands
Domestic electrical appliances, sales billed:
Refrigerators index
1936=100
Vacuum cleaners, standard type
number, _
WashersO
- do
3ladio sets production*
do
Television sets (incl. combination), production*
number. _
Insulating materials and related products:
Insulating materials, sales billed, index^f 1936=100
Fiber products:
Laminated fiber products, shipments§
thous. of doLVulcanized fiber:
Consumption of fiber paper
thous. of l b _ _
Shipments of vulcanized products
thous. of doL_
Steel conduit (rigid) and fittings, shipments 9
short tons.
Motors and generators, quarterly:
New orders index
1936=100
Polyphase induction motors, 1-200 hp:d*
New orders
thous of dol
Billings
do
Direct current motors and generators, 1-200 hp:cf
New orders
thous of dol
Billings
do
22, 202
23 446
22, 850
17, 851
20, 010
21, 197
21,979
20 797
18 859
20 200
9fi 768
04 73 7
39, 163
40, 038
81, 408
36, 284
45, 805
80, 183
41, 707
51,743
74. 183
42, 963
57, 830
72, 468
54, 737
67, 044
61, 577
63, 805
84, 620
50, 593
66, 080
104, 098
42, 993
57, 874
119 370
36, 076
42, 595
72 854
39, 324
37, 505
53, 243
46, 758
37 658
r 49 Q9f>
49 915
43 469
45 345
58 ' 324
204, 657
8,625
185, 751
10, 281
199, 605
7, 475
182, 942
9,188
179, 496
6, 267
163. 446
9,783
192, 540
5. 702
176, 405
10, 433
170, 146
7,080
154, 907
8,159
198, 604
8,820
180, 346
9,438
221, 468
9,037
200, 946
11,485
264, 196
9, 905
241, 138
13, 153
204, 336
7, 793
187, 370
9,173
195, 052
8, 088
177, 463
9, 501
187 745
8 723
170, 675
8 347
205 65°
8 089
187, 482
10 081
154, 434
25, 450
64, 120
64, 864
147, 435
25, 381
62, 014
60, 040
172, 303
35, 676
76, 324
60, 303
230, 741
40, 963
120, 878
68, 900
393, 834
79, 027
197, 680
117, 127
515, 356
132,211
236, 849
146, 296
565, 508
158 564
241, 419
165, 525
659. 965
179 921
304, 169
175, 875
369, 238
118 544
170 365
80, 329
189, 009
33, 786
111, 254
43, 969
145, 700
12 061
57 487
76, 152
122, 345
11 735
58 57()
52 031
51, 277
25, 797
20, 848
4,632
172, 320
50, 933
27, 029
19, 695
4,209
176, 609
58, 732
32, 239
20, 583
5, 910
181, 389
70, 206
36, 627
27, 235
78, 266
38, 738
30, 950
8, 578
157, 595
105, 410
51, 289
40, 654
13, 467
187, 949
116, 300
54, 368
46 419
15,513
202, 432
126, 754
59, 071
51, 331
16, 352
218, 582
89, 708
44, 947
35 227
9 534
195, 385
64, 102
33, 128
26, 140
4,834
199, 972
r
r
57 778
31, 426
22 101
4 251
207, 290
55 368
29 815
21 662
3 891
210, 499
6,344
182,851
30, 191
13, 483
38, 731
r
r
32, 865
16 537
32 877
14 456
11,805
r
310.0
385. 1
225.2
353. 8
343.9
311. 6
365. 9
335. 8
258. 1
343.3
301 0
?o7 3
396.7
2,100
1,809
2,298
3,613
3,713
3,037
1,552
2, 968
2.530
6,703
1, 626
5, 259
1,412
2,472
2,459
1,520
1,241
2, 396
1,634
3, 235
1 655
3,540
1 672
3, 996
1,301
3, 607
324.3
299.5
293.5
307.9
284.6
323.0
342.9
330.8
376.3
259.7
311.1
317.0
302 4
368 3
243.3
357.8
205 4
342 5
225.2
355. 0
255 8
361 6
r 282 1
r
v 323 5
v 376. 0
••973
1,059
«• 1, 154
1,725
' 1, 668
' 2, 702
r 3, 220
' 3, 126
T
1, 855
' 1, 274
1 073
'138
r 42, 621
r 168
f 32, 702
249
47, 981
172
31,079
»• 185
37, 796
158
31, 366
116
21, 191
'98
>• 28, 199
88
38 234
••128
' 38, 160
'131
' 49, 528
r
5,925
6,354
6,140
7, 957
6,299
5, 921
5 258
5, 534
4 130
6 575
5 75^
769
850
1,137
1, 535
2,526
2,905
2 874
3 112
2 108
1 975
1 571
163
133
290, 092
254, 135
1,101,607
128
217, 169
222, 266
957, 666
216, 969
219, 882
843, 569
192
206, 939
281, 635
986, 603
197
188, 715
209, 901
494, 866
148
222, 413
259, 280
607, 402
136
237, 541
287 919
970 109
122
292, 474
335, 616
870, 338
510, 561
322, 878
309, 375
361, 152
198, 921
397, 769
755, 665
724, 117
536
545
517
500
470
451
531
599
7,796
7,899
7,739
7,558
7,597
6,718
8,223
4,216
4,133
3,640
3,720
2,179
3,038
3,759
1,565
1,430
1,332
1,296
1,027
1,210
1,380
' 26, 749
r
22, 272
r
22, 173
r
13, 422
' 6, 824 r 16, 225
' 25, 456
r
354 5
r
r
763
816
81
21 851
63
20, 142
r \ lf)9
1 193
r 183
147
152
208
249, 032
254, 297
329, 294
255, 886
246, 007
298 641 1 317,914
353 972
282 453
333 601
1 037 864 1 498 2581 093 142 1 192 439 1 549 203
780, 486 i 921, 086
719, 234
730, 597
579
655
643
649
9,110
8,956
10, 196
10, 427
10, 609
11, 072
4,160
3, 658
4,198
4, 466
4,360
4,843
1,694
1,463
1,671
1, 725
1,791
1, 895
20 213
' 25, 780
21, 946
21, 171
r
517
517
463
490
42, 455
44, 820
36, 446
40, 443
36 946
35, 210
36 954
36, 541
8,793
9,410
13, 614
9,787
9 269
7, 905
8 807
10, 152
810, 112
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
3,093
3,333
3,349
3,244
2, 484
3,130
2, 626
Production
thous. of short tons-.
2, 365
2, 663
3,705
3,354
2, 252
4,150
Stocks in producers' storage yards, end of month
1,024
1,026
1,149
1, 264
1, 668
1, 674
1,447
1,420
1, 300
1.314
thous. of short tons-_
1, 635
1,479
1, 623
391
295
340
360
166
' 496
Exports
do
233
423
465
180
149
498
Prices, chestnut:
29 92
23.31
23.08
21.69
22. 54
24. 69
21.77
23 77
Retail compositef
dol. per short ton
22.38
24 00
14. 513
13. 394
13. 456
13. 631
13. 869
14. 219
16. 013
Wholesale, f. o. b. car at minef
do
14. 119
14. 681
14. 681
16. 013
16. 013
16. 018
Bituminous:
39, 100
36, 462
34, 171
40, 968
31, 437
25, 782
39, 445 r 34, 265
Production
thous. of short tons
46, 885
32, 744
41,060
42, 723
36, 060
Industrial consumption and retail deliveries, total
r
41,424
39, 237
32, 630
30, 751
36, 967
41, 278
37, 006
23, 683
32, 635
34, 503
38, 864
37, 60?,
thous. of short tons._
23, 510
31,911
33, 982
Industrial consumption, total
do
32, 167
28, 416
27, 734
20, 705
33, 428 «-30. 113
31, 847
27, 423
28, 327
20, 291
31, 928
665
678
666
198
759
r 712
896
615
556
847
Beehive coke ovens
__ __ _. do. .
509
125
377
8, 956
8,899
7, 627
3, 33 .i
3,293
8, 259
8, 923
8,807
7, 863
8, 007
8, 230
8,447
Oven-coke plants do
8, 641
582
764
665
608
603
786
709
681
637
687
679
699
725
Cement mills
do
8,510
10, 388
8, 250
7, 369
9, 604
Electric-power utilities
do ._.
7,782
7, 723
7, 597
8, 494
9, 582
10, 170
8,877
9, 123
3, 321
3, 075
2, 569
2, 342
3, 046
3, 698
2,722
2, 852
2, 833
2,448
2, 560
Railways (class I)
do
3, 128
3,031
582
562
229
532
698
625
208
617
679
Steel and rolling mills
_ _
do
677
538
623
653
6,444
6, 602
9, 500
8, 705
8,914
7,208
6, 102
6,919
8, 895
9, 027
7,818
8, 746
9,300
Other industrial
_
. do. _ _
4,214
5, 756
5, 212
7,070
3,219
7,296
7, 996
3,017
2,978
6,176
6,936
5, 056
6, 893
Retail deliveries _ _
do
.evised.
*> Preliminary.
* Represents 6 weeks' production.
evised series. For revised batteries data beginning 1947, see note at bottom of p. S-35 of the July 1952 SURVEY. Retail prices of coal are weighted averages for large cities. Wholesale
prices
nut-s ssupersede former quotations on tracks, destination. Revised price data prior to 1951 will be shown later.
©Figures through 1951 are estimated industry totals; thereafter, data cover reporting companies only (representing about 97 percent of total industry).
*New series. See note marked
;
*" on p. S-35. ^Beginning May 1952, the index includes varnished tubing and saturated sleeving. §Data for 1952 cover 14 companies; beginning January 1953, 17 companies. 9 Revised
data beginning January 1952 cover 9 companies; January and February shipments, 25,066 and 24,731 tons, respectively, cf The number of companies reporting is as follows: Polyphase induction, 34;\ direct current, 28.
SUKVEY OF CUKEENT BUSINESS
.May 1953
S-35
1 952
Unless otherwise stated, statistics through
19;>0 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
March
April
June
May
1953
August
July
September
October
November
December
January
February
Mar
PETROLEUM, COAL, AND PRODUCTS—Continued
COA L— Continued
Bituminous — Continued
Consumption on vessels (bunker fuel)
thous. of short tons__
Stocks, industrial and retail dealers', end of
month, total
thous. of short tons..
Industrial, total
do
Oven -coke plants
__ __ __ ...do ._
Cement mills.. _ _ _
do _.
Electric-power utilities
do
Railways (class I)
,_do
Steel and rolling; mills
do
Other industrial.
__ _ _ _ _ _
do_. _
Retail dealers
do
Exports
do
Prices:
Retail composite t
dol. per short ton
Wholesale:
Mine run, f. o. b. car at minef
do
Prepared sizes, f. o. b. car at minet
do
COKE
Production:
Beehive!
thous. of short tons__
Oven (bvproduct) .
_ __ _ _ .
do. ...
Petroleum coke
__do
Stocks, end of month:
Byproduct plants, total
do
At furnace plants
do
At merchant plants
do
Petroleum coke
_.
do
Exports
_-_ -__ _
_..
do.- _
Price, beehive, Connellsville (furnace)
dol. per short ton__
16
76
92
77, 293
76, 042
16,727
1,276
32, 724
4, 299
1,322
19, 694
1,251
78, 141
76, 810
16, 652
1,245
33, 617
4, 254
1, 353
19, 689
1,331
>•r 79, 301
77, 838
r 16, 799
1, 261
34, 545
4,110
1,336
19, 787
1, 463
4,050
4,248
4, 885
16.16
16. 16
15.99
5. 697
6.745
5. 624
6.349
573
6, 204
321
84
79
76
75
77
38
11
9
9
79, 359
77. 698
16, 136
1,456
35, 895
3, 560
1,195
19, 456
1,661
81,238
79, 567
16, 066
1,616
36, 797
3,443
1, 158
20, 487
1,671
R3, 298
81, 492
15, 728
1,746
37, 722
3,487
1,236
21, 573
1, 806
77, 951
76, 369
14, 437
1, 624
36, 393
3,041
1,156
19, 718
1,582
«• 75, 970
r 74, 212
' 13, 637
1,607
36, 195
2,897
1,085
18, 791
1, 758
76, 745
76,
75, 036
75,
14, 430
14,
1,540
35, 891
35,
3,032
1,089
1,089
19, 054
19,
1,709
73, 346
71, 857
13, 400
1, 362
34, 771
2,973
983
18, 368
1,489
71 , 385
70,110
13, 381
1,245
33, 906
2, 892
943
17, 743
1,275
70, 235
69, 187
13, 276
1, 106
33, 926
2, 764
940
17. 175
1,048
4, 898
4, 014
4,288
3, 760
3, 010
2,981
2,357
2,207
1 584
16.02
16.13
16. 22
16.28
16. 54
16.66
16
16. 72
5. 623
6.317
5. 629
6. 378
5. 640
6. 487
5. 640
6. 544
5. 655
6. 680
6. 016
6. 951
• 6. 028
7.020
6.032
7. 064
064
5. 931
7. 076
5.923
7. 058
432
5,374
296
426
5, 536
201
124
2, 3f>l
267
77
2, 305
306
248
5, 787
317
391
5, 784
323
328
6,117
314
356
5,961
311
427
6, 264
6,
264
329
483
6, 284
337
541
r 451
' 5, 681 6, 299
324
1,832
1,530
302
164
79
1,873
1,459
413
159
89
1,961
1,538
424
158
62
2, 557
2,007
550
122
58
3,297
2,479
819
103
53
3,142
2, 294
848
98
44
2,838
2,132
706
97
52
2,541
1,957
583
87
41
2,445
1,920
524
96
62
2,177
1,736
441
103
54
2,075
1, 672
402
111
51
r 1, 995
14. 750
14. 750
14. 750
14. 750
14. 750
14. 750
14. 750
14. 750
14. 750
14. 750
14.
14. 750
14. 750
r
2, 096
198, 028
93
205, 825
>• 2, 062
192, 882
89
193, 039
r
2, 199
158,310
71
152, 062
2, 017
185,917
96
204, 762
r
2, 139
188, 868
96
214, 729
r
1, 935
192, 798
99
'[220, 661
'1,677
195, 528
98
210, 510
>• 1, 790
202, 044
96
213, 358
' 1, 773
1,690
194, 611 205,
205, 645
98
97
211, 456 215, 504
1, 957
203, 214
96
218, 288
1,828
183, 736
94
195, 133
259, 126
63, 612
177, 422
18, 092
270, 679
69, 159
183, 751
17, 769
290, 813
72, 875
197, 001
20, 937
285, 964
71, 950
194, 525
19, 489
275, 951
70, 352
187, 341
18, 258
264, 368
67, 497
178, 394
18, 477
264, 723
65, 241
181, 580
17, 902
269, 776
66, 084
185, 900
17, 792
267, 852
63, 777
185, 625
18, 450
271, 928
271,
66, 275
66,
187, 852
187,
17, 801
17,
272, 250
65, 902
188, 480
17, 868
273, 589
66, 451
189, 163
17, 975
2,939
14, 295
2.570
3,340
17, 362
2.570
1,718
15, 570
2.570
2,388
17, 601
2.570
1, 876
17,497
2.570
1, 966
18, 124
2.570
1, 664
18, 306
2.570
1,526
20, 074
2.570
1,805
16', 788
2.570
2,991
20, 141
20,
2. 570
2.
570
2,211
18, 500
2. 570
r
Si, 192
' 79, 556
«• 16, 894
1, 412
35, 802
3,996
1, 269
20, 183
1,636
76
r 1, 641
354
130
43
v 5. 891
p 6. 870
1,973
1, 581
392
P 14. 750
PETROLEUM AND PRODUCTS
Crude petroleum:
Wells completed
number
Production
thous of bbl
Refinery operations ...
percent of capacity _ _
Consumption (runs to stills)
thous. of bbl__
Stocks, end of month:cf
Gasoline-bearing in U. S., total
do
At refineries
_ _ _ _
do
At tank farms and in pipelines
do
On leases
.
__
_ . do
Exports
_ _ _
_ _ do__ .
Imports
do
Price (Oklahoma-Kansas) at wells___dol. per bbl..
Refined petroleum products:
Fuel oil:
Production:
43, 402
39, 353
Distillate fuel oil
thous of bbl
30, 432
43, 640
45, 735
45, 053
46, 933
45, 183
45, 310
46, 768
46,
47, 379
39, 482
Residual fuel oil.
do
37, 602
30, 336
36, 827
38, 337
36, 887
37, 321
38, 822
38, 984
40, 351
40,
40, 515
Domestic demand:
49, 081
33, 921
27, 867
Distillate fuel oil _
. _ _ do
25,815
23, 291
26, 221
28, 836
39, 347
47, 176
60, 535
60,
63, 778
50, 721
45, 119
Residual fuel oil
do
38, 500
36, 285
37, 027
42, 094
41,267
50, 395
48, 304
60, 109
60,
57, 557
Consumption by type of consumer:
5,222
4,204
3,717
3,912
Electric-power plantsj
do
4, 380
6,028
7, 162
5, 380
7,749
7,702
8, 523
8,
r
2,851
2,500
2,434
Railways (class I)
__do_ .
2, 463
2,439
2, 621
2, 618
2,827
2,622
2, 516
2,
2,055
r
r
r
r
r
6,760
Vessels (bunker oil)
do
6,438
6, 351
6, 156
6, 117
6, 342
6, 680
6, 975
6,354
6,
6,782
782
7, 403
Stocks, end of month:
48, 750
51, 634
51, 648
65,911
Distillate fuel oil
do
85, 775
117,252 120, 721
104, 257
116,096
99, 582 1 80, 655
99,
37, 971
38, 561
38, 821
Residual fuel oil
do
45, 688
52, 245
54, 061
56, 200
53, 052
53, 069
48, 706
48,
45, 910
Exports:
2,791
2,641
1,316
Distillate fuel oil
do
3, 613
2,999
3,269
2,306
2, 840
2,949
3,015
2 135
3
015
Residual fuel o i l
_ _ _ _ _ _ _ do
2,244
2,059
2,500
2,588
2,473
1, 194
1,583
1,271
1,373
1, 502
1,
502
1,367
Prices, wholesale:
Distillate (New York Harbor, No. 2 fuel)
.091
.091
dol. per gal__
.091
.091
.098
.098
.098
.098
.098
.098
.098
1.500
Residual (Okla., No. 6 fuel)—. dol. per bbl..
1.400
1.350
1.150
.950
.900
.900
.900
.900
.900
.900
Kerosene:
11, 964
10, 978
Production
thous of bbl
7,084
9, 519
11,083
10, 498
11, 620
10, 919
11, 792
13, 434
13. 061
8,150
12,853
Domestic demand
do
5,504
5, 268
5,883
6,014
7, 156
12, 230
12, 455
17, 829
17,
17, 066
Stocks, end of month
_
_ _ _ do
16,817
18, 955
19,614
23, 061
27, 387
35, 021
32, 401
33, 289
32, 199
26, 842 1 23, 487
26,
652
Exports
do
613
950
740
796
655
525
358
511
358
325
Price, wholesale, bulk lots (New York Harbor)
.101
dol. per gal._
.101
. 101
.101
.108
.108
.108
.108
.108
.108
.108
Lubricants:
Production
thous. of bhl. _
4,921
4,831
3, 492
4, 855
4, 668
4, 857
4, 694
4,940
4, 507
4,416
4,210
Domestic demand
_ _ ... do
2,990
3, 509
2, 525
3,414
3,224
3, 343
3,433
3,711
2,800
2, 993
2,
3, 032
10, 169
Stocks, refinery, end of month
do
10, 154
9, 610
9, 694
9,775
9, 745
9,620
9, 869
10, 561
11,021
1 1 , 250
1,751
1, 276
1,448
Exports© do
1,297
1,295
1, 070
1, 610
1,054
938
917
890
Price, wholesale, bright stock (midcontinent,
.290
.290
f. o. b. Tulsa)
_
... dol per gal
.290
.270
.270
.270
.270
. 260
.250
.220
. 220
r
Revised.
» Preliminary.
1 New basis. C om parable data for I )ecember 1952 (thous. bbl.): Dis tillatefuel 98,895; kei"osene, 27, 529.
fRevised series. Retail prices are weighted ave rages for la rge cities. Wholesalf 3 prices suj >ersede fori rier quotat ions on tra cks, destii ration. Fi gures prior to 1951 will
§ Revisions for 1950 will be shown later.
c^Includes stool:s of heavy crude in CCalifornia.
f Revisions for January-July 1951 will be shown ater.
O Excludes "special category" exports not showii separatel y for securi ty reasons
NOTE FOR RADIO, TELEVISION SERIE 3, P. S-34. *New ser ies. Comj >iled by th e Radio- Te levision M inufacturer s Association. Data represent ir
from both members and nonmembers of the associati on. Both private an 1 company brands are included, Radio pr oduction cc>m prises h< )me, porta ble battery,
television sets include combination models. Annua I totals for 1924-46 for radios am1 monthly data for 1£ 47-50 for r adio and t elevision s 3ts are sho wn on p. 2
Data for March, June, September 1952, and March 1953 cover 5 weeks; December 1952, 6 weeks; other months, 4 weeks.
2,011
16, 292
2. 570 "V2.~570~
42,153
35, 704
52, 552
48, 531
6, 809
1,831
5, 924
8,083
6,774
67, 167
44, 178
3 673
1, 389
.098
.850
p . 098
P . 850
11,313
13, 884
20, 468
377
.108
v . 108
3, 596
2, 931
11,224
628
.210
» .210
be, published later.
SURVEY OF CURRENT BUSINESS
S-36
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the 1
1951 Statistical Supplement to the Survey j
May
1952
March
April
May
June
July
1953
August
September
October
November
December
104,894
106, 432
i 107, 413
93, 148
19, 396
94, 725
20, 804
2 95, 609
3 20. 617
2 86, 221
8 18, 408
7, 650
9,317
91, 326
9,097
9,451
95, 817
9,082
9,292
89, 634
7. 685
8,378
86, 458
121, 645
63. 809
7,864
8,584
3,447
127, 792
70, 581
8,236
7, 807
4,645
141, 746
79, 746
8,772
7,575
2,652
149, 069
87, 232
8, 804
7,748
2,349
.104
.129
.201
.104
.129
.203
.104
.129
.203
.104
.129
.206
6 977
5, 661
8,451
4, 536
7,230
5,853
9,126
4, 761
7,020
6,060
9,754
5, 241
6,670
5, 815
9, 425
4,887
January
February
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS—Continued
Refined petroleum products— Continued
Motor fuel:
All types:
74, 485
92, 553
105. 022
99, 093
98, 340
Production, total
_ __
thous. of bbl
107. 427
104, 977
104, 873
Gasoline and naphtha from crude petro81,819
63, 752
86, 638
87, 096
93 373
95, 742
92, 564
leum
thous. of bbl
93, 663
17,917
16, 796
18. 724
17,310
17, 669
18, 259
19, 605
Natural gasoline and allied products -do ..
18, 248
Sales of 1. p. g. for fuel, etc., and trans6,063
5,608
7,183
6, 020
6,727
6, 574
7,296
fers of cvcle products
thous. of bbl.
6,934
7,398
8,038
8,041
8,437
8,761
8,938
9, 759
9,186
Used at refineries
-do
98, 653
99, 305
105, 307
87, 065
101, 137
103, 689
102, 954
100, 095
Domestic demand
_ _ _ _ _ . _ ___do _ _ _
Stocks, gasoline, end of month:
152, 556
116, 039
112, 232
143, 512
108, 708
110, 750
113, 698
111, 770
Finished gasoline, total
do
64, 731
83, 129
60, 389
90, 695
57, 180
57, 244
58, 180
59, 276
At refineries
do
8,378
7,617
7,934
7, 858
8,133
7,842
8,292
Unfinished gasoline
_do__ _
7,293
9,366
9,246
10, 035
9,527
10, 095
9,722
8,890
8,925
Natural gasoline and allied products do
1,923
975
1,903
2,466
2,730
2,203
2,396
2,164
Exports cf
-do _ _
Prices, gasoline:
Wholesale, refinery (Oklahoma, group 3)
.104
.104
.103
.104
.100
.104
.104
dol. per gal__
.104
.129
.129
.129
.129
.129
.129
.129
.129
Wholesale, regular grade (N. Y.)* _ _do
.205
.202
.205
.204
.203
.201
.202
.204
Retail, service stations, 50 cities
do
Aviation gasoline:
6,922
6,116
4.906
6,552
6,003
6,988
7,193
6, 694
Production total
thous of bbl
4,339
5, 068
5,848
5,076
5,417
5,977
5, 325
6,191
100-octane and above
do
7,859
7,633
7,332
8,529
7,311
7,865
8,085
8, 397
Stocks, total
-do
4,422
3,761
3,878
4,507
3,863
4,470
4,751
4,259
100-octane and above
do
Asphalt:
922, 900 1, 009, 500 1,280,700 1, 383, 600 1, 493, 500 1, 475, 100 1,407,100
739, 300
Production
short tons
967, 500
690, 400
1, 713, 500 1, 753, 500 1, 660, 500 1,436,000 1, 167. 100
755, 800
Stocks refinery, end of month
_do
Wax:
94, 360
80, 360
96, 880
92, 680
116, 200
95, 480
105, 000
113, 120
Production
thous of Ib
179, 200
179, 760
169, 680
193. 480
199, 360
173, 600
158, 480
168, 000
Stocks refinery, end of month
do
Asphalt products, shipments:
5,172
5,
355
3,869
4,742
5,103
5,856
6,609
6,387
Asphalt roofing, total
thous. of squares. _
Roll roofing and cap sheet:
1,019
1,040
1,001
1,169
913
1,060
1,321
1,405
Smooth-surfaced
do
1,109
1,046
1,133
1,166
888
1,365
1,549
1,617
Mineral-surfaced
-do
2,676
3,023
2,969
3,130
2,
067
3.
322
3,587
3,517
Shingles all types
do
126
123
119
136
151
135
224
190
Asphalt sidings
do
59, 274
52, 791
52, 540
56, 335
61, 200
45, 957
67. 754
62, 439
Saturated felts
short tons__
i 96, 796 . . „
v . 104
P . 129
P .208
712,900
748, 700
998, 700
707, 300
910, 400 1, 149, 300 1, 368, 200 1, 579, 500
106, 680
156, 520
113, 400
161,000
105 840
160, 440
99, 680
150, 360
4,254
2,931
3,111
2,966
950
1,037
2,266
676
721
669
817
1,472
1,623
1,602
2,097
52, 099
40, 792
46, 292
43, 423 '
50, 646
174
782
127
767
695
114
131
3,800
886
105
PULP, PAPER, AND PRINTING
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
_thous. of cords (128 cu. f t . ) _ _
Consumption
do _
Stocks, end of month
do_
Waste paper:
Receipts
short tons
Consumption
-do
Stocks end of month
do
WOOD PULP
Production:
Total, all grades
thous. of short tons..
Dissolving and special alpha t
short tons
Sulphate (paper grades)! .
do
Sulphite (paper grades) f do .
Soda
do
Groundwood
do
Defibrated, exploded, etc
_
_ __
do
Stocks, own pulp at pulp mills, end of month:
Total all grades
short tons
Sulphate (paper grades) f
do
Sulphite (paper grades)!-—
_do.__
Soda
do
Groundwood
do
Exports, all grades, total
Imports all grades total
Dissolving and special alphaf _ _
Sulphate t
Sulphite (paper grades) t
Soda
Groundwood
_ _ _ _ _
_-do
do
do
do
do
do
_do. ._
2,482
2,332
5,915
1,903
2, 235
5, 582
1,900
2,247
5, 234
2.044
2,127
5,148
2,211
1,910
5,448
2,527
2, 209
5,766
2,355
2,104
6,007
2,255
2,351
5,917
2,150
2,224
5,843
2,247
2.131
5,926
2,432
2,367
6,006
«• 2, 283
»•r 2, 148
6, 132
2,267
2,407
5,994
647, 081
650, 550
576, 038
650, 014
640, 933
587, 616
597, 539
618, 966
564, 079
589, 727
605, 572
548, 623
550, 030
561.067
536, 811
631, 070
667, 847
501, 402
693, 247
698, 420
496, 775
786, 664
775, 224
510, 317
685 279
704, 127
492, 249
696 981
666, 765
521. 737
687, 220
708, 058
509, 058
647 080
682, 469
476, 575
740 250
741, 071
472, 206
1,456
59, 532
763, 939
215, 584
39, 041
214,847
86, 773
1,375
60, 737
708, 162
205,611
37,813
198. 464
89, 170
1,402
61,855
724, 682
206, 808
37, 840
203, 259
87, 398
1.323
56, 102
690, 882
184, 265
33. 893
194, 762
89, 236
1,180
55, 839
607, 453
156, 805
26. 953
181,974
84, 161
1,381
62, 173
728, 421
196, 340
32, 708
194, 697
83, 646
1,305
60, 401
670, 471
186, 823
32, 320
185, 254
84, 958
1,461
65, 441
761, 522
205, 110
36, 628
204, 312
92, 331
1,394
59, 762
739, 059
190, 129
35, 173
189 874
93, 005
1,348
49 548
700, 304
186, 072
36 004
197 113
91, 021
1,483
58 871
784, 840
205, 504
36, 875
210 319
93, 629
' 1. 356
1, 501
49 214
56 501
715 468
810 905
186, 191
203 364
34 782
37 084
192 325
206 012
89' 186
88 308
124, 064
29, 926
30, 180
1,973
41,861
139, 706
32, 894
34, 473
2, 161
42, 547
147, 535
35, 416
34, 249
2,170
41,088
150, 864
38, 813
38, 488
2,640
41.030
146, 208
35, 867
33, 417
2,563
36, 722
152,021
42, 955
32, 252
2. 425
31,983
146, 712
42, 769
32, 722
2,321
26, 681
149, 404
42, 786
31, 489
2,282
22, 563
154, 700
43, 809
32, 513
2.641
22, 394
154 327
47. 159
29,111
2,403
25,115
164 777
46, 920
35, 175
1,861
28 094
158 036
39, 166
32, 592
1, 936
31 683
22, 369
155, 331
14, 339
56, 373
61, 804
2 573
19, 544
29, 522
146. 760
16. 595
49, 719
58, 244
2,619
18,878
30, 131
147, 433
15, 028
59, 365
52, 766
2,229
17,408
19, 666
133, 599
13, 353
50, 681
46, 551
2, 197
20, 205
9.883
122. 636
18, 053
47, 747
40, 689
1, 743
13, 851
14,861
138,616
19, 333
50, 814
46, 837
2 113
18, 846
11,388
160, 423
19, 833
59, 195
50, 536
2 494
27, 773
11,560
170, 340
25, 579
63, 100
55, 096
2 257
23, 593
11,712
200, 827
23, 787
74. 047
72,
759
0
298
27, 107
12. 031
222, 780
21, 551
84, 287
90, 924
2 623
22. 731
13, 489
190 211
19, 934
81 119
64, 621
2 560
21, 302
6. 228
169 613
16,415
72, 243
57, 473
2 427 -_
19, 664
r
165 531
42 186
36. 902
2, 190
33 052
PAPER AND PAPER PRODUCTS
All paper and paperboard mills:
Paper and paperboard production, total
1,762
2,104
2,014
2,011
1,949
2,059
2,279
2,027
2, 205
2,071
2, 023
2,066
thous. of short tons..
2.277
869
1,029
1.051
981
990
969
1,080
992
1,095
977
1,053
1.077
••987
Paper (incl building paper)
do _.
942
875
783
941
1,075
'867
858
997
'•967
881
1,032
936
1.071
Paperboard
-do
110
126
124
97
110
115
95
106
118
109
119
112
128
Building board
,___
__do
' Revised.
v Preliminary.
1 New basis, representing total gasoline production (comparable figure for December 1952 is 107,581,000 bbl.); comprises total gasoline and naphtha from
crude, natural gasoline used at refineries, and natural gasoline sold to jobbers, etc. (not shown separately).
2 includes unfinished gasoline production (net); comparable figure for December 1952 is 95,097,000 bbl.
3 Excludes benzol, etc.; comparable figure for December 1952 is 20,769,000 bbl.
cfExeludes "special category" exports not shown separately for security reasons.
*New series. Prices are for bulk lots, f. o. b. refineries. Quotations prior to 1951 will be shown later.
fBeginning with the February 1953 SURVEY, data for rayon and special chemical grades of wood pulp produced by the bleached sulphate arid bleached sulphite processes have been combined
under the dissolving and special alpha grades. The sulphate and sulphite grades include both bleached and unbleached and represent paper grades only (except sulphate imports for which this
detail is not available). In 1949, production of dissolving and special alpha grades averaged 35,000 tons per month. Data beginning 1950 will be shown later.
SURVEY OF CURRENT BUSINESS
Mav 1953
Unless otherwise stated, statistics through
1950 and. descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-37
1952
March
April
May
June
July
1953
August
September
October
November
December
February
March
824 431 r 886 207
793, 397 r 814, 892
800, 190 'r 874, 324
796 778 865 061
424, 307 r 428, 582
800 000
818 295
806, 000
796 000
437, 670
897 000
863 685
870, 000
859 000
452 934
r
100 000
41, 800
101 000
97 000
111 500
110, 000
50, 952
106 000
105, 000
114 244
280
494
280
277
150
325
522
303
299
152
January
PULP, PAPER, AND PRINTING—Continued
PAPER AND PAPER PRODUCT S—Con.
Paper, excl. building paper, newsprint, and paperboard (American Paper and Pulp Association) :
Orders new
short tons
Orders unfilled end of month
do
Production
_
_ _ do__
Shipments
do
Stocks, end of month
do
Fine paper:
Orders new
do
Orders, unfilled, end of month
do __
Production
do
Shipments
- do_ _
Stocks end of month
do
Printing paper:
Orders new
do
Orders unfilled, end of month
do_
Production
do
Shipments
do
Stocks end of month
do
Price, wholesale, book paper, "A" grade, English finish, white, f. o. b. mill*_.dol. per 1001b__
Coarse paper:
Orders, new
_ _ _ _ _ _ short tons__
Orders unfilled, end of month
do
Production
__
- -do
Shipments
- do ._
Stocks end of month
do
Newsprint:
Canada (incl. Newfoundland):
Production
do
Shipments from mills
do
Stocks at mills, end of month
_ do __
United States:
Consumption b y publishers _ _
do
Production
do
Shipments from mills
_ do
Stocks, end of month:
At mills
- -- do ...
At publishers
_ _ _ -_ -do .__
In transit to publishers
do
Imports
-do
Price, rolls, contract, delivered to principal
ports*
dol per short ton
Paperboard (National Paperboard Association) :
Orders, new
_. short tons. _
Orders unfilled, end of month
do
Production, total
.
do
Percent of activity
Paper products:
Shipping containers, corrugated and solid fiber,
shipments
mil. sq. ft. surface area_.
JTolding paper boxes, value: t
New orders
--- 1947-49=100
Shipments
do
r
852, 186
854, 820
896, 773
881, 775
361, 070
813, 274
825, 736
850, 216
842, 129
369, 375
740, 502
747, 506
817, 027
803, 031
376, 503
753, 235
729, 006
773, 003
769, 654
381,065
715, 288
768, 806
674, 759
671, 174
384, 550
752, 557
726, 902
775, 723
768, 208
422, 465
807 132
784 617
756, 433
749 664
427, 350
892 616
817, 556
851, 888
861 102
418, 101
108, 853
120, 280
124, 033
121, 995
69, 710
104, 915
111, 930
116, 076
113, 781
72, 250
91, 140
93, 500
115, 790
109, 550
78, 490
89, 628
86, 000
100, 121
96, 843
81, 905
83, 848
88, 000
84, 195
81, 323
84,750
82, 938
57, 150
100, 213
98, 080
93, 850
91, 582
56, 738
100 268
93 032
99 195
107, 357
52, 824
111, 288
111, 547
98 903
92
38
98
96
103
300
408
393
903
897
92, 205
37. 023
85, 799
93, 590
106 106
288, 200
458, 050
300, 497
295, 680
135, 960
296, 780
460, 500
295, 614
293, 550
138, 025
261, 286
425, 000
288, 313
285, 851
140, 488
276, 760
423, 000
278, 120
279, 095
139, 500
262, 177
450, 000
238, 014
232, 209
145, 300
258,
422,
267
264,
140
298
465
256
255
141
313 878
487, 440
293 743
292, 239
143 419
248
458,
277
276
144
823
860
372
152
548
315
486
284
287
142
666
402
433
517
775
820
435
921
785
915
13.55
13.55
13.55
13.55
13.55
13.55
294, 560
182, 684
307, 066
300, 445
82, 900
254, 759
160, 500
277, 891
276, 686
84, 100
246, 360
140, 000
269, 058
262, 180
84, 000
237, 383
135, 000
250, 159
240, 210
95, 000
221, 930
143, 000
216, 743
212, 740
99, 000
257, 062
155, 270
256, 307
251, 791
130 250
259
170
245
244
130
476, 492
453, 162
166, 970
471, 235
468, 018
170, 187
495, 972
492, 478
173, 681
451, 915
483, 791
141, 805
485, 539
483, 250
144, 094
486 496
488 575
142 015
461 508
462 404
141 119
502 791
486 159
157 751
399, 258
99, 633
98, 696
393, 470
94, 767
94, 250
404, 071
103, 440
103, 783
379, 943
99, 080
98, 138
329, 729
94, 192
94, 933
341 571
97 831
99, 008
379 669
92 301
90 645
8,452
457, 617
87, 887
416, 469
8,969
460, 475
72, 475
419, 848
8,626
442, 739
79, 028
409, 649
9,568
476, 479
74, 592
459, 005
8,827
532. 297
75, 474
427, 945
7 650
573, 502
86 444
400, 541
9
582
77
422
13.55
527
090
051
705
595
306
209
578
887
13.55
r
759 399
765 444
798 316
800 447
420 669
r
T
r
13.55
082 rr 304 710
491, 459
018
647 •• 305 4Q9
924 r 299 269
271 r 147 500
13.55
r
104, 559
38, 853
104 212
102, 729
107 589
r
r
r
r
13.55
000
000
000
000
000
13.55
000
265
000
000
677
P 13. 55
259, 890 rr 291, 690
175 106 r 180 285
259, 194 r 289, 853
258 302
286 510
120 260 r 123 600
264,
178
266
266
123
463 435
498 987
122 199
463 377
463 064
122 512
473 640
467 627
128 525
439 167
408 610
159 082
484 276
441 512
201 846
425 981
97 144
97 789
416 974
89 842
90 429
386 627
86 659
83 007
351 775
93 789
93 908
346 035
82 892
83 208
420 956
91 911
94 505
8
561
69
432
661
016
364
597
8 074
527 525
97 206
407 300
11
530
81
452
11
556
89
391
11
555
93
377
291
508
225
700
8 697
518 985
85 618
125 25
125 25
125 25
P 125 25
294, 513 263, 053
184,550 173, 218
273, 935 ' 267, 705
274 385
280 050
119 232
124 480
r
r
726
651
258
263
607
022
767
816
000
000
000
000
500
289
182
286
285
124
000
317
000
000
700
116. 75
117. 00
117. 00
119. 50
119. 50
923, 000
380, 400
880,500
85
875, 600
417, 600
869, 500
82
880,000
375, 000
906,000
82
850, 300
352, 900
832, 800
82
845, 800
444, 200
773, 700
71
5,935
5,765
5,974
5,580
5,538
6,340
6 743
7 471
6 796
6 707
6 288
6, 414
7 352
149.7
138.4
136.7
135.0
142.0
132.7
156.7
140.3
147.5
126.4
162 0
145 3
163 0
158 0
174 1
170 8
146 8
141 6
147 4
147 4
158 5
147 5
152 5
138 3
176 3
158 5
1,371
1,081
290
1,055
855
200
1,240
937
303
1,003
754
249
601
472
129
904
699
205
949
796
153
1 118
930
188
1 263
1 034
229
893
709
184
814
629
185
1 031
811
220
1 031
805
226
45 110
82 861
55 651
41 749
86 243
48 776
44 790
95 260
78 192
47 766
97 730
63 767
45 231
r 94 151
48 445
50 470
98 100
122 00
122 00
125 25
125 25
917, 500 1 065 800 1 076 300 1 020 500 1 077 600 971 800
388 400
453 000
459 900
455 100
457 400
478 400
955, 600
955 700 1, 142 200 1 004 900 1 029 100 985 500
89
96
85
88
96
91
968 700 1 156 300
437 300
567 500
973 800 1 072 900
95
95
r
PRINTING
Book publication, total
New books
New editions
number of editions. do
do
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
long tons
Stocks, end of month
do
Imports, including latex and guayule
do
Price, wholesale, smoked sheets (New York)
dol. per lb__
Chemical (synthetic):
Production _ _
long tons
Consumption
do
Stocks, end of month
_do
Exports
do
Reclaimed rubber:
Production
do ___
Consumption
_
_ _
do
Stocks, end of month
do
35, 682
61, 553
85, 172
36, 417
59, 422
82, 974
36, 347
63, 988
59, 233
36, 946
72, 995
67, 261
32, 760
84 839
50, 468
32, 941
84 657
67, 139
39, 274
84 190
51 465
.505
.485
.485
.380
.315
.305
.270
.290
79, 416
69, 744
151, 249
3,490
77, 437
68, 492
159, 701
2,415
61, 368
67, 339
154, 339
2,350
64,040
66, 203
151, 324
1,154
58, 992
58 642
152, 373
1,499
59 214
61 214
150, 254
1 921
58 352
66 668
141 ' 837
1 573
62 553
73' 963
133* 042
1 525
60 540
66 240
123 745
1 148
65 740
71 635
118 987
1 323
22, 808
24, 797
40, 579
23, 948
23, 911
39, 767
23, 142
22, 314
40, 169
21, 079
21, 850
38, 973
16, 213
18 354
36 287
17, 131
20 548
32 224
21 732
23 131
31 430
27 405
26 830
31 463
22 684
22 896
30 176
25 606
24 300
30 664
26 784
24 696
31 244
7,786
6,134
2,484
3,512
137
13, 043
181
7,189
6,967
2,814
4,038
115
13, 295
127
7,433
7,443
2,719
4,624
101
13, 263
108
7,366
9,003
2,617
6,256
130
11, 668
107
7,097
7,148
1 186
5 845
117
11 647
140
6 933
7,989
1 632
6 226
131
10 637
159
8 663
7 846
3 200
4 532
114
10 821
95
7 384
5 892
2 665
3 140
86
12 272
85
7 945
6 226
2*916
3' 173
137
14 096
95
5,497
5,034
10,900
105
5,481
5,305
11,013
88
5 771
5,330
11, 493
63
5 536
6 040
10, 974
83
4 790
4 507
11 223
134
4 867
5 431
10 627
79
7 391
8 049
2 826
5 082
'l41
9 960
154
5 397
5 934
10 086
104
6 220
5 859
10 386
55
5 117
4 617
10 910
60
5 644
4 869
11 744
' 48
.275
.300
r
.295
.272
.260
69 482 r 66 970
72 810 r 68 888
117 875 r 114 099
1 487
1 264
81 408
78 137
116 225
r
24 373
r 24 098
r 30 631
27 882
27 386
29 931
8 238
7 882
3 004
4 794
84
14 118
86
8 236
7 243
3 263
3 895
85
15 295
121
9 407
8 255
3 570
4' 596
89
16 456
6 130
7 538
10 169
46
6 4^8
6 364
10 308
49
7 470
6 561
11 242
TIRES AND TUBES
Pneumatic casings:
Production
Shipments, total
Original equipment
Replacement equipment __
Export
Stocks, end of month.
Exports©—
inner tubes:
Production§
Shipments§
Stocks, end of month §
Exports
r
thousands
do
do
_
do
do
do
do
do
do
do
do
Revised.
* Preliminary.
*New series. Compiled by the U. S. Department of Labor, Bureau of Labor Statistics; monthly data beginning 1947 will be shown later.
t Revised series, reflecting use of new base period; data prior to February 1952 will be shown later.
©Excludes "special category" exports not shown separately for security reasons.
§ Includes data for motorcycles.
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
May 1953
1953
1952
March
April
May
June
July
August
September
October
November
December
January
February
March
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PRODUCTS
185, 451
168, 174
161, 544
157,412
160, 795
174, 449
182, 612
176, 845
164, 085
168, 910
184, 754
193, 830
18, 095
78
15, 993
26, 622
10, 833
19, 817
86
21, 764
24, 672
10, 520
21, 829
92
23, 282
23, 220
9,513
20, 748
90
25, 067
18, 896
8,578
21,342
90
25, 084
15, 158
7,548
23, 573
99
25, 915
12, 819
6,262
23,010
99
26, 240
9,584
5,352
24, 181
101
27, 222
6,546
4,360
22, 048
95
19, 771
8,823
4,329
20, 881
87
13, 740
15, 957
5 385
18, 855
79
13, 520
21, 294
7,445
17, 325
80
14,155
24,
464
r
8, 899
20, 215
84
20, 813
23, 866
9,706
434, 789
411,819
484, 468
492, 488
489, 779
479, 409
510, 226
504, 459
538, 183
530, 377
531, 547
512, 135
530, 990
527, 147
546, 446
551, 040
471, 331
440, 700
436, 508
383, 597
391, 241
353, 088
377, 166
375, 051
Coated abrasive paper and cloth, shipments . .reams. _ 174, 155
PORTLAND CEMENT
Production
Percent of capacity
Shipments
Stocks, finished, end of month.
Stocks, clinker, end of month
thous. of bbl__
thous. of bbl
__do
do
CLAY PRODUCTS
Brick, unglazed:
Production J
thous. of standard brick
Shipments J
__ do
Price, wholesale, common, composite, f. o. b.
plantf
_ dol. per thous__
CJay sewer pipe, vitrified :J
Production
short tons
Shipments
do
Structural^ tile, unglazed :J
Production
do
Shipments
do
27. 317
27. 217
27. 217
27. 217
i 27. 409
27. 409
27. 409
27. 409
27. 409
27. 409
27. 409
' 27. 410
139, 685
118, 092
139, 573
139, 744
128, 020
134, 221
143, 426
145, 603
132, 061
142, 566
136, 595
146, 934
145, 012
150, 341
151, 052
160, 498
130, 019
120, 236
135, 309
98, 131
113, 227
94, 920
124, 673
106, 651
76, 119
69, 494
82, 647
84, 813
84, 209
82, 285
86, 470
83, 994
91, 836
87, 251
85, 434
87, 976
82, 911
83, 338
82, 736
88, 572
73, 216
73, 326
78, 823
66, 270
81,541
63, 050
73, 976
68, 020
9,400
9, 005
9,523
9,577
10, 220
9,888
10, 080
9,607
10, 042
9,735
10, 700
11,126
10, 100
9,688
10, 704
10, 119
8,888
8,296
8,250
7,889
9,293
8,602
9,000
8,510
653
862
825
1,258
3,310
818
880
1,391
3,021
1,101
P 27. 410
GLASS PRODUCTS
Glass containers:
Production- _
_ _ _ thous. of gross
Shipments, domestic, total
_
_do
General -use food:
Narrow-neck food
do
Wide-mouth food (incl. packers' tumblers,
jelly glasses, and fruit jars), .thous. of gross..
Beverage (returnable and nonreturnable)
thous. of gross _ _
Beer bottles
_
do...
Liquor and wine
do
Medicinal and toilet
do
Chemical household and industrial
_ do
Dairy products
do
Stocks, end of month
do
Other glassware, machine-made:
Tumblers:
Production
thous of dozens
Shipments
do
Stocks
do
Table, kitchen, and householdware, shipments
thous of dozens
881
1,125
1,216
915
892
1,186
1,464
1,220
719
2,400
2,474
2,767
2,706
2,733
3, 210
2,736
2,818
2,234
2,109
2,485
2,403
655
806
767
700
1,061
2,355
977
955
1,123
1,198
1,073
1,244
783
1,257
1,120
2,313
476
768
1,035
2,111
666
570
1,380
2,298
330
528
1,381
2,083
484
714
385
535
497
572
979
2,272
783
228
1,860
10, 216
850
244
9,863
940
2,064
735
233
9,871
10, 060
5,357
5,061
10, 241
4,701
4,987
9,892
4,537
5,329
9,073
• 3, 472
' 3, 504
r
3, 449
852
739
214
905
1,834
788
264
929
2,270
804
212
1,928
911
2,356
808
260
10, 087
10, 166
10, 427
10, 677
5,696
6,012
8,035
5,191
4,693
8,431
4,960
4,428
8,911
5,975
5,399
8,724
6,387
5,541
9,566
4,374
3,666
3,295
3,652
3,656
14,360
13, 555
27,204
13, 857
13, 724
27, 350
10, 107
928
327
9,449
772
327
9,594
859
307
9,854
4,831
5,491
8,349
4, 966
5,245
8,023
5,833
5,181
8,628
3,816
4,050
8,389
2,908
2,945
3,354
3,308
961
751
270
756
285
10, 697
12, 081
302
9,056
GYPSUM AND PRODUCTS
Crude gypsum, quarterly total:
Imports
thous of short tons
Production
do
Gypsum 'products sold or used, quarterly total:
TJncalcined
short tons
Calcined:
For building uses:
ase cpai p s>c
All nfh^r hniidiri!? nlastprs
Lath
Tile
"Wallboardrf1
Industrial plasters
do
thous of sq ft
do
do
short tons
1,806
1,582
734
2,067
1,720
1,218
2,164
1,846
716
2,033
1,723
526, 045
559, 966
«• 603, 095
610, 738
451, 841
13, 086
134, 090
508, 785
7,602
761, 566
67, 484
494, 822
14, 045
143, 059
589, 300
6,670
830, 644
61, 426
533, 226
13, 337
165, 283
645, 548
6,265
902, 174
58, 438
424, 371
12, 125
161, 130
570, 922
6,507
935, 541
65, 195
401
TEXTILE PRODUCTS
CLOTHING
Hosiery:
r
13, 253
Production
thous. of dozen pairs.
Shipments
do_. . ' 13, 941
28,163
Stocks, end of month
do . .
' 13, 480
f 13, 576
28,067
' 13, 312
r 12, 250
29, 129
•• 13, 132
r 12, 643
29, 774
' 11, 794 «• 13, 907
' 11, 728 ' 14, 470
' 29, 843 «• 29, 279
' 14, 104
«• 15, 184
28, 199
r
r
15, 687 * 13, 987
' 16, 819 ' 15, 118
' 27, 067 [' 25, 935
' 13, 342
«• 12, 949
26, 399
r
14, 304
14, 356
27, 291
COTTON
Cotton (exclusive of linters):
Production:
2 15, 072
176
14, 715
5,716
10, 786
13, 420
1,413
13, 988
Ginnings§
thous of running bales
Crop estimate, equivalent 500-lb. bales
2 15, 144
thous. of bales
674, 773
686, 951
Consumption^
_
bales.. 735, 251
848, 055
697, 637
744, 383
736, 248
915, 593
759, 737
893, 806
697, 984
Stocks in the United States, end of month,
13, 422
12, 373
6,522
5,355
3,449
2,789
15, 704
14, 503
4,366
16, 667
11, 093
total^
thous of bales
14, 452
6,425
15, 646
13, 371
12, 317
11, 019
5,258
4,280
3,370
2,720
16, 600
Domestic cotton, total
do
742
401
13, 991
4,495
1,882
1,069
527
220
10, 720
6,550
2,967
On farms and in transit
do
2,372
1,502
6,644
1,783
1,795
3,977
7,779
2,986
7,437
7,442
3,761
Public storage and compresses
do
999
949
1,594
1,530
1,380
1,186
814
1,258
1,439
1,571
1,695
Consuming establishments
do
55
79
51
74
97
69
51
97
86
66
58
Foreign cotton, total
do
r
2
3
Revised.
» Preliminary.
1 Specification changed; earlier data not strictly comparable.
Total ginnings of 1951 crop.
Total ginnings of 1952 crop.
^Revisions for January-July 1951 will be shown later.
fRevised series. Data beginning 1947 will be shown later.
d*Includes laminated board, reported as component board.
§Total ginnings to end of month indicated.
^Data for April, July, and October 1952 and January 1953 cover 5-week periods and for other months, 4 weeks; stocks are for end of period covered.
3 14, 951
765, 778
10, 164
10, 086
1,362
6,906
1.819
78
3 15, 136
772, 176
9,163
9,079
820
6,366
1, 892
84
NOTE FOR MILL MARGINS SERIES, p. S-39. The method of compiling average mill margins has been revised to incorporate new constructions, similar to those formerly used
which are no longer being made in quantity, and to substitute "landed" raw cotton prices (Memphis territory growth) for the 10 spotma rket quotations. Revised data forAugust 1950 through
1951 will be shown later.
SURVEY OF CURRENT BUSINESS
May 1953
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
S-39
1952
March
April
May
June
July
1953
August
September
October
November
December
January
February
March
TEXTILE PRODUCTS—Continued
COTTON—Continued
Cotton (exclusive of linters)— Continued
Exports
bales
Imports __
-_ _
do
Prices (farm), American upland
cents per lb__
Prices, wholesale, middling, ^ie", average, 10
markets
_ cents per Ib
Cotton linters :f
Consumption
_ _
thous. of bales _.
Production
do
Stocks, end of month
do
419, 104
1,652
36.0
334, 248
1,449
36.8
315 842
373
36.0
264 418
4,367
38.0
48 116
6,865
37.0
106 853
7 797
37.9
240 501
10, 909
39.1
296 025
7,735
36.8
337 208
12 362
34.1
465 966
33 268
31.7
291 829
25 322
29.8
259 247
27 055
30.2
31.5
40.8
40.7
38.6
40.4
39.4
39.4
38.9
36.7
34.8
33.1
32.5
32 9
33.2
108
140
'•660
98
99
630
97
70
560
99
46
541
80
36
532
95
46
528
88
168
578
108
256
706
109
233
837
114
211
901
111
207
1,047
110
174
1, 079
137
152
1,097
2,381
73, 609
1,434
59, 942
1,643
63, 442
1,295
2,264
54, 136
1,251
54, 291
2,532
63, 315
1,529
2 325
61, 830
3,976
70, 866
6,433
67, 119
3,271
2 540
58, 627
7,634
54, 784
3 647
51, 858
2,773
25. 28
42.7
16.5
18.0
24.30
42.7
16.4
17.3
24.55
42.7
16.0
16.5
22.88
40.7
16.8
16.5
25.39
40.7
17.4
17.0
26.83
40.7
18.4
17.5
29.72
40.7
19.3
17.8
32.55
40.7
19.3
17.8
33.05
40.7
18.3
17.8
34.12
40.7
18.5
17.3
34.40
40.7
18.3
17.1
33 92
40.7
19.3
17.0
32 52
?38 8
»18.7
* 17.0
.755
1.035
.738
1.019
.730
.991
.727
1.006
.733
1.022
.742
1.045
.767
1.080
.762
1.082
.745
1.075
.728
1.047
.709
1.018
.702
1.018
p. 692
v 1 015
21, 159
19, 885
9,040
452
8,478
122.3
20, 910
19, 613
10, 607
424
9,948
114.5
20, 834
19, 513
8,110
416
7,532
112.0
20, 770
19, '-53
8,700
435
8,102
117.3
21, 325
19, 948
9,112
380
8,501
102.2
21, 398
20, 000
9,516
476
8,870
128.1
21, 432
20, 041
9,768
501
9,134
135.1
21, 612
20, 215
12, 341
499
11, 525
134.8
21, 583
20, 180
9,870
506
9,219
*7.0
21, 632
20, 290
9,183
483
8,637
130.9
21, 680
20, 314
12, 282
501
11 521
135.7
21, 622
20, 277
10, 179
518
9 561
140.2
21, 575
20 221
10, 251
513
9,635
139.5
55.6
19.9
57.7
21.6
66.8
24.2
75.2
27.2
83.1
26.9
84.7
28.0
81.0
26.7
75.0
24.1
73 6
26.8
71.2
25.1
76 7
24.1
70 9
18.5
80 5
21 9
101.7
18.0
11, 175
99.1
18.9
7,128
90.0
17.8
3,864
78.8
15.2
3,902
65.1
15.9
3,995
57 7
15.0
5,960
54.9
15.5
5,010
58.4
17.8
3,872
59 1
15 9
3 687
64 4
17.4
3 691
64 0
18 8
5 503
62 9
16 4
6 260
62 3
16 1
.780
.400
.780
.400
.780
.400
.780
.400
.780
.400
.780
.400
.780
.400
.780
.400
.780
.400
.780
.366
.780
.366
.780
.366
p. 780
p. 366
r
COTTON MANUFACTURES
Cotton cloth:
Cotton broad-woven goods over 12 inches in width,
production quarterly cf
mil of linear yards
Exports
thous. of sq. yd _
Imports
do
Prices, wholesale:
Mill margins t
cents per Ib
Denim, 28-inch*
_
cents per yd
Print cloth, 39-inch, 68 x 72*
do
Sheeting, in gray, 40-inch, 48 x 44-48* ..do
Cotton yarn, natural stock, on cones or tubes:
Prices, wholesale, f. o. b. mill:*
20/2, carded, weaving
dol. per l b _ _
36/2, combed, knitting
do
Spindle activity (cotton system spindles) :f
Active spindles, last working day, total thous. .
Consuming 100 percent cotton
do
Spindle hours operated, all fibers, total. mil. of hr.Average per working day
do
Consuming 100 percent cotton
do
Operations as percent of capacity
RAYON AND ACETATE AND MFRS.
Filament yarn and staple:
Shipments, domestic, producers':
Filament yarn
mil.oflb
Staple (inch tow)
_ _ _ do.
Stocks, producers', end of month:
Filament yarn
do
Staple (incl. tow)
do
Imports
thous. of Ib
Prices, wholesale:
Yarn, viscose, 150 denier, filament, f. o. b. shipping point*
dol. per lb__
Staple, viscose, 1^ denier _ _
do
Rayon and acetate broad-woven goods, production,
quarterly cf
thous. of linear yards
445, 562
406, 372
460, 958
499, 197
SILK
Silk, raw:
Imports
thous. of Ib
Price, wholesale, white, Japanese, 20/22 denier,
87% (AA), f. o. b. warehouse 9
dol. per lb_.
975
705
861
1,275
967
893
1,363
1,071
716
1,032
901
585
4.91
4.89
4.90
4.95
5.23
5.43
5.43
5.47
5.43
5.45
5.55
5.56
23, 924
9,252
28, 519
30, 020
11, 020
34, 347
25, 472
8,072
30, 633
27, 284
5,644
24, 825
31,350
6,380
31,013
30, 432
9,044
26, 979
30, 872
10, 548
28, 118
38, 025
12, 860
64,994
28,420
10, 920
20, 316
26, 984
11, 688
29, 686
••34,360
13, 690
40, 894
29, 784
12 684
28, 487
11.600
1 1. 580
1 1. 594
11.600
1.627
i 1. 660
1 1. 596
1.665
1.725
1.725
1.725
1.725
.638
.598
.585
.585
.594
.605
.590
.620
.650
.650
.650
.650
.629
i 1. 375
1.375
1.425
* 1. 425
1.425
i 1. 425
i 1. 425
i 1. 535
i 1. 625
i 1. 675
i 1. 725
i 1. 725
i 1. 750
147
1,592
19
136
1,534
13
145
1,647
16
145
1,743
20
130
1,528
19
163
1,727
20
166
1,811
19
169
1,893
18
165
1,880
18
159
1,935
17
160
1,867
18
169
1,932
20
128
51
117
48
114
51
73
40
56
27
113
46
134
52
138
54
139
52
144
56
67, 953
72,644
119
63, 457
71,007
120
67, 772
70, 404
120
69, 696
78,524
131
61, 138
68, 504
120
73, 806
83, 377
149
75, 293
86, 475
155
74, 918
86, 856
154
74, 495
83,067
141
50, 984
5,356
34, 056
11, 572
60, 115
6,705
40,290
13, 120
51, 056
6,036
34, 204
10, 816
50, 205
6,563
36, 844
6,798
54,200
7,455
39, 585
7,160
55, 340
7,960
37, 208
10, 172
57,832
7,608
38, 016
12, 208
72, 190
8,980
47, 705
15, 505
56, 480
6 888
36,580
13, 012
*>5.53
WOOL
Consumption (scoured basis) :§
Apparel class
thous. of Ib
Carpet class
do
Imports, clean weightA ___
_
do.
Prices, wholesale, Boston:
Raw, territory, 64s, 70s, 80s, scoured. _dol. per lb_.
Raw, bright fleece, 56s, 58s, greasy, 47 percent
shrinkage
dol. per lb__
Australian, 64s, 70s, good topmaking, scoured, in
bond
dol. per Ib
1.722
WOOL MANUFACTURES
Machinery activity (weekly average) :§
Looms :O
Woolen and worsted:
Pile and Jacquard. _thous. of active hours. .
Broad
do
Narrow
do
Carpet and rug:
Broad
_
- . _ do
Narrow
do
Spinning spindles:
Woolen
- do
Worsted©
do
Worsted combs
. - __
do
Wool yarn:
Production, total§©
.. thous. of Ib
Knitting §
do
Weaving §
do
Carpet and other§
.
do
Price, wholesale, worsted yarn (Bradford
machine knitting system) 2/20s*___dol. per lb._
r
f
138
47
163
54
71, 199
81, 630
146
' 69, 128
'81,597
147
73, 998
91, 359
161
54, 448
5,772
35, 076
13, 600
r
r
57, 060
6 508
36 288
14, 264
64, 560
r
6 970
42 175
15, 415
2.098
2.128
2.146
2.134
2.122
2.164
2.219
2.122
2.110
2.122
«• 2. 110
9 2. 122
2.122
Revised.
? Preliminary.
* Nominal price.
t Revised series. See note at bottom of p. S-38.
IData for April, July, and October 1952 and January 1953 cover 5-week periods and for other months, 4 weeks; stocks and number of active spindles are for end of period covered.
(^Beginning 1951, production of broad-woven goods is classified according to principal fiber content; production of fabrics containing 25.0-49.9 percent wool and rayon and cotton fabrics produced on woolen and worsted looms (which cannot be distributed between cotton and rayon goods) amounted to approximately 73 million yards in 1950.
*New series. Compiled by the U. S. Department of Labor, Bureau of Labor Statistics: monthly data beginning 1947 (except for cotton yarn and sheeting) will be shown later.
9 Substituted series. Data beginning January 1950 will be shown later.
§Data for April, July, and October 1952 and January 1953 cover 5-week periods; other months, 4 weeks.
Almports of unmanufactured wool converted to a clean-weight basis; imports were formerly shown in actual weight, i. e., in the condition received.
©Beginning 1951, looms weaving fabrics principally wool by weight.
©See note in August 1951 SURVEY regarding coverage of operations iiin cotton mills beginning with January 1951 data.
T
SUKVEY OF CUEKENT BUSINESS
S-40
Unless otherwise stated, statistics through
1950 and descriptive notes are shown in the
1951 Statistical Supplement to the Survey
May 1953
1953
1952
March
April
May
July
June
August
Septem-
ber
October
Novem-
ber
Decem-
ber
January
Febru-
ary
March
TEXTILE PRODUCTS—Continued
WOOL MANUFACTURES—Continued
Woolen and worsted woven goods, except woven
felts :t
Production quarterly, total
thous. of lin. yd
Apparel fabrics total
do
Government orders
do
Other than Government orders total do
Men's and boys'
do
Women's and children's
do
Nonapparel fabrics, total
do
Blanketing
do
Other nonapparel fabrics
do
Prices, wholesale, suiting, f. o. b. mill:
Flannel, 12-13 oz./yd., 57"/60"*— . 1947-49 =100. .
Gabardine, 10J4-12J6 oz./yd., 56"/58"*
do
82, 742
71, 466
17, 241
54, 225
27, 390
26, 835
11, 276
5,572
5,704
87, 185
75, 687
23, 533
52, 154
25, 111
27, 043
11, 498
6,536
4,962
122.6
111.1
122.6
107.5
117.8
107.5
117.8
107.5
88, 555
78, 760
14, 943
63, 817
27, 013
36, 804
9,795
5,549
4,246
115.8
107.5
115.8
107.5
95, 313
82, 715
11, 197
71, 518
30, 726
40, 792
12, 598
7,483
5,115
111.3
107.2
111.3
107.2
111.3
107.2
112.5
103.9
112.5
104.7
113.9
104.7
365
107
382
82
f 113. 9
> 105. 3
TRANSPORTATION EQUIPMENT
AIRCRAFT
Civil aircraft, shipments
Exports t
330
l!6
335
111
353
67
349
76
337
57
293
96
268
84
254
97
529, 585
597
507
415,357
396, 393
113, 631
98, 110
503, 917
423
329
397, 486
380, 952
106, 008
90,983
518, 710
484
382
407, 962
392, 471
110, 264
94, 962
211, 782
224
220
168, 327
161, 862
43, 231
36, 231
270, 982
349
271
218, 577
211, 140
52, 056
45, 204
551, 159
387
330
438, 397
425, 266
112,375
99, 375
604, 261
389
260
471, 808
459, 958
132, 064
116, 449
519, 536
319
244
405, 111
394, 313
114, 106
102, 504
535, 027
231
189
418, 982
406, 156
115, 814
103, 648
33, 808
16, 280
17, 528
32, 772
17,633
15, 139
32, 895
18, 139
14, 756
28, 670
13, 468
15, 202
22, 784
10, 813
11, 971
14, 049
7,026
7,023
20, 073
10, 564
9,509
22,005
9,410
12, 595
22, 047
9,015
13, 032
21, 054
9,455
11, 599
27, 121
14, 136
12, 985
27, 938
15, 941
11, 997
5,124
4,733
1,994
2, 739
364
5,298
4,833
1,963
2,870
369
5,163
4,602
1,854
2,748
335
4,029
3,681
1,219
2,462
292
3,673
3,369
1,281
2,088
263
4,471
4,108
1,897
2,211
230
4,887
4,552
2, 280
2,272
242
5, 465
5,149
2,708
2,441
260
••4,908
•• 4, 610
2,464
' 2, 146
250
5,392
5,033
2,560
2,473
248
5,858
5,318
2,588
2,730
223
6,009
5,353
2,586
2,767
286
322, 857
63,364
374, 288
73, 461
422, 217
71, 690
423, 655
71, 471
340, 454
72, 134
215, 668
57, 786
318, 870
65, 381
383, 385
77, 486
360,236
70, 431
399, 906
69, 949
386, 221
72,606
396, 558
68,616
8,161
5,840
5,838
2,321
4
4
4
0
7,433
5.234
5,204
2,199
12
12
12
0
7,263
5,171
4,765
2,092
2
2
2
0
6,539
4,976
4,848
1,563
13
13
13
0
5,658
4,116
3,860
1,542
8
8
8
0
4,674
2,990
2,853
1,684
5
5
5
0
3,935
2,052
1,879
1,883
13
13
13
0
5,577
3,103
2,963
2,474
11
11
11
0
6,098
4,201
4,032
1,897
11
11
11
0
7,968
5,893
5,769
2,075
20
20
20
0
8,103
6,094
5,972
2,009
15
15
15
0
7,789
6,072
6,063
1,717
17
17
17
0
6,685
4,958
4,952
1,727
39
39
39
0
1,761
1,761
1,763
1,764
1,763
1,759
1,757
1,755
1,756
1,757
1,759
1,762
1,764
89
5.1
91, 056
58,234
32, 822
93
5.3
89, 917
54, 810
35, 107
96
5.5
84,341
51, 198
33, 143
101
5.7
77, 984
46, 409
31, 575
107
6.1
76, 870
45, 094
31, 776
102
5.8
75, 684
43, 144
32,540
98
5.6
73, 609
42, 171
31, 438
89
5.1
74, 728
41, 381
33, 347
90
5.2
72, 400
40, 355
32, 045
88
5.0
67, 138
35, 803
31, 335
88
5.0
66, 368
36, 550
29, 818
89
51
63, 711
34, 891
28, 820
89
50
59, 354
32, 732
26 622
2,480
12.6
2,502
13.0
2,237
12.1
2,170
12.0
2,131
12.0
2,217
12.7
2,125
12.5
2,015
12.1
1,939
11.9
1,890
11 9
1,851
12 0
1,835
12 1
1,784
12 1
' 1, 723
16
' 1, 738
30
1, 612
28
' 1, 368
26
' 1, 434
25
1, 169
23
'1,006
21
1, Oil
19
894
17
943
15
948
14
1,057
12
843
10
.number. .
do
248
73
291
149
number. _
do _
do
do
do ._
do. __
do
482, 973
569
499
372, 440
352, 064
109, 964
92, 614
do .
do
do
do
do _ _
do
do
do
r
MOTOR VEHICLES
Factory sales total
Coaches total
Domestic
Passenger cars total
Domestic
Trucks, total
Domestic
Exports totalj
Passenger carst
Trucks and busses t
_
-
Truck trailers production, total
Complete trailers
Vans
All other
Trailer chassis
Registrations:
New passenger cars
New commercial cars
-
-- _
do
do
r
565, 172 «• 583, 001
254
190
219
189
453, 319
486, 071
435, 129
467, 440
r
111, 599 ' 96, 740
r
97, 879 •• 86, 212
700, 685
236
189
566, 320
545, 961
134, 129
122, 043
6,684
6,271
2,766
3,505
311
RAILWAY EQUIPMENT
American Railway Car Institute:
Shipments:
Freight cars, total
number
Equipment manufacturers, total
do
Domestic
do
Railroad shops, domestic
- -- do
Passenger cars, total
do
Equipment manufacturers, total. _ do
Domestic
do
Railroad shops, domestic
do
Association of American Railroads:
Freight cars (class I), end of month :§
Number owned
thousands
Undergoing or awaiting classified repairs
thousands. _
Percent of total ownership
Orders, unfilled
number. _
Equipment manufacturers
do _ _
Railroad shops
do
Locomotives (class I), end of month:
Steam, undergoing or awaiting classified repairs
number _.
Percent of total on line
Orders, unfilled:
Diesel-electric and electric locomotives, total
number of power units. . i
Steam locomotives, total
number. _
Exports of locomotives, total
do
r
r
r
56
59
39
58
54
52
43
49
45
51
38
40
702
646
56
643
598
45
652
617
35
648
554
94
394
369
25
564
528
36
516
488
28
588
549
39
622
585
37
741
674
67
704
669
35
779
743
36
INDUSTRIAL ELECTRIC TRUCKS AND
TRACTORS
Shipments, total
Domestic
Export
number
do
do
832
794
38
r
Revised.
* Revised data for January-February 1952 are as follows (member of power units): 2,004; 1,918.
fRevised series. Beginning with data for 1951, the Bureau of the Census reports for woolen and worsted woven fabrics refer to goods which are principally wool by weight (i. e., exclude
fabrics containing 25-49.9 percent wool previously included).
*New series. Compiled by U. S. Department of Labor, Bureau of Labor Statistics.
More complete specifications are: Flannel suiting—men's and boys', woolen, stock dyed, fine and medium
grade; worsted suiting—women's and children's gabardine. Monthly data beginning 1947 will be shown later.
t Data through December 1951 for aircraft and trucks and busses exclude military-type exports not shown separately for security reasons; thereafter the figures, including those for
passenger cars, exclude all military-type exports.
§Not including railroad-owned private refrigerator cars.
-INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40Pages marked S
Abrasive paper and cloth (coated)
38
Acids
24
Advertising
7, 8
Agricultural employment
10
Agricultural loans and foreign trade
15, 21, 22
Aircraft
11, 12, 13, 14, 40
Airline operations
22
Alcohol, denatured and ethyl
24
Alcoholic beverages
2, 6, 8, 27
Aluminum
33
Animal fats, greases, and oils
25
Anthracite
2, 11, 13, 14, 15,34
Apparel, wearing
3, 4, 5, 6, 8, 9, 11, 12, 14, 15, 38
Asphalt and asphalt products
36
Automobiles
2, 3, 7, 8, 9, 11, 12, 13, 14, 16, 18, 21
Balance of payments
20
Banking
15, 16
Barley
28
Barrels and drums
32
Battery shipments
34
Beef and veal
29
Beverages
2, 3, 4, 6, 8, 11, 12, 14, 27
Bituminous coal
2, 11,13, 14, 15, 34, 35
Blast furnaces, steel works, etc
11,12, 13, 14
Blowers and fans
34
Boilers
33,34
Bonds, issues, prices, sales, yields
19
Book publication
37
Brass
33
Brick
38
Brokers' loans and balances
16,19
Building costs
7
Building and construction materials
7, 8, 9
Business sales and inventories
3
Businesses operating and business turn-over-_
4
Butter
27
Cans (metal), closures, crowns
33
Car-loadings
22, 23
Cattle and calves
29
Cement and concrete products._.
2, 6, 38
Cereals and bakery products
5, 11, 12, 14
Chain-store sales (11 stores and over only)
9
Cheese
__.
27
Chemicals
2,3,4,5, 12,14, 15,18,21,24
Cigars and cigarettes
6, 30
Civilian employees, Federal
, __
12
Clay products (see also Stone, clay, etc.)
2, 6, 38
Clothing (see also Apparel)
5,38
Coal
2, 11, 13, 14, 15, 21, 22, 23, 34, 35
Cocoa
22,29
Coffee
22, 29
Coke
_
----2,22,23,35
Commercial and industrial failures _
4
Communications
11, 13, 14, 15, 18, 19, 20, 23
Confectionery, sales
29
Construction:
Contracts awarded
6
Costs
7
Dwelling units
7
Employment, earnings, hours, wage rates__
11,
12, 13, 14, 15
Highway
6, 7, 12
New construction, dollar value
6
Consumer credit
16
Consumer expenditures
1,8
Consumer price index
5
Copper
22,33
Copra and coconut oil
25
Corn
19,28
Cost-of-living index (see Consumer price
index)
5
Cotton, raw and manufactures
2, 5, 6, 21, 38, 39
Cottonseed, cake and meal, oil__
25
Crops
2,5, 25, 27,28,30,38
Currency in circulation
18
Dairy products
_
2, 5, 11, 12, 14, 27
Debits, bank
15
Debt, short-term, consumer__„
16
Debt, United States Government
17
Department stores
8, 9, 10, 16
Deposits, bank
,
15, 16, 18
Disputes, industrial
13
Distilled spirits
27
Dividend payments and rates
1, 18, 20
Drug-store sales
8, 9
Dwelling units
,
7
Earnings, weekly and hourly
13, 14, 15
Eggs and poultry
2, 5, 29
Electric power
5, 26
Electrical machinery and equipment
3,
4,5,7,11,12,13,14,21,34
Employment estimates and indexes
__ 10,11, 12
Employment Service activities
13
Emigration and immigration
.
_
23
Engineering construction
6
Expenditures, United States Government.
16
Explosives
.
.
25
Exports (see also individual commodities)---_ 20, 21
Express operations.™
22
Failures, industrial and commercial
4
Farm income, marketings, and prices
2, 5
Farm wages.
15
Fats and oils, greases
.
, _ _ _ 5, 25, 26
Federal Government
finance
16, 17
Federal Reserve banks, condition of
.
15
Federal Reserve reporting member banks
16
Fertilizers
5, 24
Fiber products
.
,__„_.
34
Fire losses
_.—
7
Fish oils and fish.... _-.
______
25, 29
Flaxseed
25
Flooring
__.
31,32
Flour, wheat___
28
Pages marked S
Food products
2,
3, 4, 5, 7, 8, 9, 11, 12, 14, 18, 27, 28, 29, 30
Foreclosures, real estate
7
Foreign trade indexes, shipping weight, value
by regions, countries, economic classes, and
commodity groups
21, 22
Foundry equipment
34
Freight carloadings
22, 23
Freight cars (equipment)
40
Freight-car surplus and shortage
23
Fruits and vegetables
2, 5, 21, 27
Fuel oil
35
Fuels
2, 5,34,35
Furs
22
Furnaces
34
Furniture
2,3,5,8,9, 11, 12, 13, 14, 16
Gas, prices, customers, sales, revenues
5, 26
Gasoline
2, 7, 8, 9, 36
Glass products (see also Stone, clay, etc.)---- 2, 38
Generators and motors
34
Glycerin
24
Gold
18
Grains and products
5, 19, 21, 22, 23, 28
Grocery stores
8,9
Gross national product
1
Gypsum and products
6, 38
Heating apparatus
6, 11, 12, 13, 14,33,34
Hides and skins
5, 22, 30
Highways and roads
6, 7, 12, 15
Hogs
29
Home Loan banks, loans outstanding
7
Home mortgages
7
Hosiery
38
Hotels
.
11, 13, 14, 15, 23
Hours of work per week
12, 13
Housefurnishings
5, 8, 9
Household appliances and radios__
5, 8, 9, 16, 34
Immigration and emigration
23
Imports (see also individual commodities)- 20, 21, 22
Income, personal
1
Income-tax receipts
16
Incorporations, business, new
4
Industrial production indexes
2,3
Instalment loans
16
Instalment sales, department stores
10
Insulating materials _ .
34
Insurance, life
17, 18
Interest and money rates
16
International transactions of the U. S
20, 21, 22
Inventories, manufacturers' and trade
3, 4, 9, 10
Iron and steel, crude and manufactures
2,
6, 21,32,33
Jewelry stores, sales, inventories.
8,9
Kerosene
35
Labor disputes, turn-ever.
13
10
Labor force
Lamb and mutton
,_
.__
29
Lard
29
33
Lead.
Leather and products
2, 3, 4, 5, 12, 14, 15, 30, 31
Linseed oil
. .
25
Livestock
2, 5, 22, 23, 29
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit)
7, 15, 16, 17, 19
Locomotives
40
Looms, woolen, activity
39
Lubricants
35
Lumber and products
2,
3,5,8,9, 11, 12, 13, 14,31,32
Machine activity, cotton, wool
39
Machine tools
34
Machinery.
2,3,4,5, 11, 12, 13, 14, 18, 21,34
Magazine advertising
8
Mail-order houses, sales
8, 9, 10
Manufacturers' sales, inventories, orders
3,4
Manufacturing production indexes
2,3
Manufacturing production workers, employment, payrolls, hours, wages
11, 12, 13, 14, 15
Meats and meat packing
2, 5, 11, 12, 14, 29
Medical and personal care
5
Metals
.- 2,3,4,6, 11, 12,13,14,15,18,32,33
Methanol
24
Milk
27
Minerals and mining
2,3, 11, 13, 14, 15, 20
Monetary statistics
18
Money orders
8
Money supply
18
Mortgage loans
7, 15, 16, 17
Motor fuel
36
Motor vehicles
3, 5,8, 9,40
Motors, electrical
34
National income and product
1
National parks, visitors
23
Newspaper advertising
8
Newsprint
22,37
New York Stock Exchange, selected data
19, 20
Nonferrous metals__
2, 6, 11, 12, 13,14, 22, 33
Oats
28
Oil burners
34
Oils and fats, greases.
5,25,26
Oleomargarine
26
Operating businesses and business turn-over. _
4
Orders, new and unfilled, manufacturers'
4
Paint and paint materials
5, 26
Panama Canal traffic
__'___
23
Paper and pulp
2,3,4,6, 11,12, 14,15,22,36,37
Paper and products...- 2,3,4,6, 11, 12, 14, 15,36,37
Passports issued
23
Payrolls, indexes
12
Personal consumption expenditures
1,8
Personal income..
__.
1
Pages marked S
Personal saving and disposable income
1
Petroleum and products
2,
3, 4, 5, 11, 12, 13, 14, 15, 21, 22, 35, 36
Pig iron
32
Plant and equipment expenditures
1
Plastics and resin materials
26
Plywood
31
Population
__
10
Pork
29
Postal savings
16
Poultry and eggs
2, 5, 29
Prices (see also individual commodities):
Consumer price index
5
Received and paid by farmers
5
Retail price indexes
5
Wholesale price indexes
5,6
Printing and publishing
2, 3, 4, 11, 12, 14, 15, 37
Profits, corporation
1, 18
Public utilities.-- 1, 6, 11, 13, 14, 15, 17, 18, 19, 20, 26
Pullman Company
23
Pulpwocd
36
Pumps
34
Purchasing power of the dollar
6
Radio and television
5, 7, 34
Railroads, employment, wages, financial statistics, operations, equipment
11,
12, 13, 14, 15, 17, 18, 19, 20, 22, 23, 40
Railways (local) and bus lines
11, 13, 14, 15
Rayon and rayon manufactures
2,39
Real estate
7, 16, 17, 19
Receipts, United States Government
16
Reconstruction Finance Corporation, loans
17
Recreation
5
Refrigerators, electrical
34
Rents (housing), index
5
Retail trade, all retail stores, chain stores (11
stores and over only), general merchandise,
department stores
3, 4, 8, 9, 10, 11, 13, 14, 15
Rice
28
Roofing and siding, asphalt
36
Rosin and turpentine
24
Rubber, natural, synthetic, and reclaimed,
tires and tubes
6, 22,37
Rubber products industry, production index,
sales, inventories, employment, payrolls,
hours, earnings
2, 3, 4, 12, 14, 15
Rural sales
10
Rye
28
Saving, personal
.
1
Savings deposits
16
Securities issued
18, 19
Services
4,5,8,11,13,14,15
Sewer pipe, clay
38
Sheep and lambs
„
29
Ship and boat building
11, 12, 13, 14
Shoes and other footwear
2, 8, 9, 12, 14, 15, 31
Shortening
26
Silk, imports, prices
6, 39
Silver____
18
Soybeans and soybean oil
25
Spindle activity, cotton, wool
39
Steel ingots and steel manufactures (see also
Iron and steel)
32, 33
Steel scrap
32
Stocks, department stores (see also Invenlories)____*_
.
10
Stocks, dividends, listings, prices, sales, yields.
20
Stokers, mechanical
34
Stone, clay, and glass products
2,
3, 11, 12, 13, 14,38
Stoves
34
Sugar
II... I
22,30
Sulfur
25
Sulfuric acid
24
Superphosphate
24
Tea
30
Telephone, telegraph, cable, and radio-telegraph carriers
11, 13, 14, 15, 18, 19, 20, 23
Textiles
2,3,4, 6, 11, 12, 14, 15, 21,38,39,40
Tile
38
Tin
22,33
Tires and inner tubes
6, 12, 14, 15, 37
Tobacco
2,3,4, 5, 6,8, 11, 12, 14, 15, 21,30
Tools, machine
34
Trade, retail and wholesale. 3, 4, 8, 9, 10, 11, 13, 14, 15
Transit lines, local
22
Transportation, commodity and passenger. _ 5, 22, 23
Transportation equipment.-. 2, 3, 4, 11, 12, 13, 14, 40
Travel
23
Truck trailers
40
Trucks
40
Turpentine and rosin _„
24
Unemployment and compensation
10,13
United States Government bonds
16, 17, 18, 19
United States Government
finance
16, 17
Utilities
1, 5, 6, 11, 13, 14, 15,17,18, 19, 20, 26
Vacuum cleaners
34
Variety stores
8, 9
Vegetable oils
25, 26
Vegetables and fruits
2, 5, 21, 27
Vessels cleared in foreign trade
23
Veterans' unemployment allowances
13
Wages, factory and miscellaneous
13, 14, 15
Washers
..
__ 34
Water heaters
,
34
Wax
36
Wheat and wheat
flour
19, 28
Wholesale price indexes
5,6
Wholesale trade
3, 4, 10, 11, 13, 14, 15
Wood pulp
36
Wool and wool manufactures
2, 6, 22, 39, 40
Zinc___
33
Foreign
Aid
by the
United States
Government
1940-1951
Never before has the whole complex oj foreign aid programs over
the years been so conveniently set down in such short space.
—New York Times.
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