Full text of Survey of Current Business : May 1955
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MAY
U. S. DEPARTMENT OF COMMERCE
OFFICE OF BUSINESS ECONOMICS
1955
SURVEY
OF
CURRENT
BUSINESS
No. 5
MAY 1955
tenfo
DEPARTMENT OF COMMERCE
FIELD SERVICE
Albuquerque, N. Mex.
321 Post Office Bldg.
Los Angeles 15, Calif.
1031 S. Broadway
Atlanta 5, Ga.
50 Seventh St. NE.
Memphis 3, Tenn.
229 Federal Bldg.
Boeton 9, Mass.
U.S. Post Office and
Courthouse Bldg.
Miami 32
Buffalo 3, N. Y.
117 Ellicott St.
PAGE
THE BUSINESS SITUATION
...................
National Income and Product—
A Review of the First Quarter
*
*
...............
1
2
Charleston 4, S. C.
Area 2,
Sergeant Jasper Bldg.
Cheyenne, Wyo.
307 Federal Office Bldg.
Chicago 6, 111.
226 W. Jackson Blvd.
*
Cincinnati 2, Ohio
442 U. S. Post Office
and Courthouse
SPECIAL ARTICLES
Debt and Borrowing in 1954
The Housing Market
....................
..........................
6
Cleveland 14, Ohio
1100 Chester Ave.
13
Dallas 2, Tex.
1114 Commerce St.
*
*
*
Denver 2, Colo.
142 New Customhouse
NEW OR REVISED STATISTICAL SERIES
Manufacturers' Sales and Inventories
*
*
..........
20
*
MONTHLY BUSINESS STATISTICS.. . .S-l to S-40
Statistical Index
...............
Inside back cover
Published by the U. S. Department of Commerce, SINCLAIR WEEKS,
Secretary. Office of Business Economics, M. JOSEPH MEEHAN, Director.
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> Fla° NE- FirBt A™.
30
Minneapolis 2, Minn.
2d Ave. South and
3d St.
New Orleans 12, La.
333 St. Charles Ave.
New York 17, N. Y.
110
E. 45th St.
Philadelphia 7, Pa.
1015 Chestnut St.
Phoenix, Ariz.
137 N. Second Ave.
Pittsburgh 22, Pa.
107 Sixth St.
Portland 4, Oreg.
520 SW. Morrison St.
Reno, Nev.
1479 Wells Ave.
Richmond 20, Va.
900 N. Lombardy St.
Detroit 26, Mich.
230 W. Fort St.
St. Louis 1, Mo.
1114 Market St.
El Paso, Tex.
Chamber of Commerce
Bldg.
Salt Lake City 1, Utah
222 SW. Temple St.
Houston 2, Tex.
430 Lamar Ave.
San Francisco 11, Calif.
555 Battery St.
Jacksonville 1, Fla.
311 W. Monroe St.
Savannah, Ga.
125-29 Bull St.
Kansas City 6, Mo.
911 Walnut St.
Seattle 4, Wash.
909 First Ave.
For local telephone listing, consult section
devoted to U. S. Government
MAY 1955
By the Office of Business Economics
Gross National Product
BILLIONS OF DOLLARS
450
TOTAL GNP
400
350
300
i
250
i
i
I
I
1 I
I
i
l
400
CIVILIAN FINAL PURCHASES
350
300
250
ty I
I
I
I—I
I
L
I
I
I
I
I
I
100
CHANGE IN BUSINESS INVENTORIES
BUSINESS expansion has extended into the second quarter.
In April employment again moved up, on a seasonally adjusted basis, and retail sales also advanced. Strong consumer
demand is now being supplemented by higher investment
demand,
expressed in the form of increases in orders for producers7 durables, in private construction activity—nonresidential as well as residential—and in a moderate tendency
toward inventory increases. The rising volume of output is
generating more personal income which is being freely spent.
Thus business activity generally is forging ahead and in some
lines new highs are being recorded.
The April employment expansion was concentrated in the
commodity producing industries where it was broadly pervasive and the rise was generally somewhat more than
seasonal. Small March-April reductions in employment
(seasonally corrected) occurred in the retail trade and transportation and public utilities industry groups. Gains were
most pronounced in the durable-goods manufacturing industries, particularly metal producing and fabricating, and
the machinery and transportation equipment industries—
continuing trends evident in the past 3 or 4 months.
In the nondurable-goods manufacturing industries there
were moderate and widespread increases among the major
nondurable groups during the month.
Personal income in March at the seasonally adjusted
annual rate of $294 billion was nearly $2 billion above
February. Rising wages and salaries, especially those in
manufacturing and construction, accounted for most of the
increase. The payroll rise in manufacturing was extended in
April. Factory employment and hourly earnings again increased while the workweek contracted seasonally by a half
hour. Farm income continued below the rate of a year ago.
50
Trade still expanding
-50 I
I
I
I
I
I
I
1
I
I
I
I
I
I
I
I
I
I
I
I
150
NATIONAL SECURITY OUTLAYS
100
50
0
I
I
I
1952
I
I
I
I
I
1953
I
I
1
1954
I
1955
QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES
U. S. DEPARTMENT OF COMMERCE. OFFICE OF BUSINESS ECONOMICS
341309°—55
1
55-25-1
The strength of consumer demand is evidenced by the
continued growth in trade. Sales of all retail stores in
April, adjusted for seasonal variation, amounted to $15.2
billion or 1 percent above the large March volume, according
to preliminary data. Consumers are still making free use
of short- and intermediate-term credit as the volume outstanding expanded $0.4 billion in March. Automobile paper
accounted for most of the increase.
At the manufacturing level, additional evidence of the
broadening of the recovery was provided by the substantial
increases in new orders and sales from February to March.
March seasonally adjusted new orders received by manufacturers were 8 percent above the February amount while sales
were up 5 percent. In both cases the expansion was widespread, although the increases were generally larger in the
durable goods lines. With the new orders inflow continuing
to run ahead of shipments, the unfilled order backlog moved
ahead by nearly $1 billion during March. It was still $4
billion below last March, however.
SURVEY OF CURRENT BUSINESS
Mar 10r,5
National Income and ProductA Review of the First Quarter
THE RECOVERY in the Nation's total output which began in
the latter part of 1954 continued with vigor in the opening
quarter of this year. Gross national product rose to a seasonally adjusted annual rate of $370 billion as compared with
$362 billion in the fourth quarter and $356 billion in each of
the preceding three quarters of last year. The recent increase
restored the dollar total to its previous peak reached in the
second quarter of 1953. (See chart on page 1.)
The accelerated pace of business activity was mirrored
also in the income flow. Incomes originating in current production, other than corporate profits, showed a first-quarter
rate of growth commensurate with that in national product.
Recent Trends in Wages and Salaries
80
MANUFACTURING
DISTRIBU Tl VE INDUS TRIES *
\
GOVERNMENT
40
\
SERVICES B FINANCE
20
COMMODITY PRODUCING INDUSTRIES
OTHER THAN MANUFACTURING
National security outlays stabilize
_L
J_
1953
1954
1955
QUARTERLY TOTALS, SEASONALLY A D J U S T E D , A T ANNUAL RATES
" Includes trade, transportation,, communications, and public utilities
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
55-25-3
While current comprehensive corporate profits data are not
yet available, it is apparent from preliminary indications
that the improvement recorded in the fourth quarter of 1954
continued in the current year.
Personal income both before and after taxes topped the
record totals of the preceding quarter, and gave strong support to the rising trend of consumer expenditures.
Rise in civilian final demand
The bulk of the recent increase in the national output
stemmed from the stepped up rate of civilian final demand.
Total civilian final purchases had continued to expand
throughout the recession which started in mid-1953. Their
uptrend tempered the impact of the substantial cutbacks in
national security outlays and in business inventory investment during the initial phase of the downturn, and fully
counterbalanced the further declines that occurred in the
second and third quarters of last year.
Contributing to this steady growth were consumer expenditures for nondurables and services, new private construction outlays, State and local government expenditures,
and net foreign purchases of United States goods and services.
In the aggregate these mounted from $247}£ billion at annual
rates in the second quarter of 1953 to $261 % billion in the
third quarter of 1954—the quarter immediately preceding
the present upturn in the national- output total.
These components of demand continued to rise in the final
quarter of 1954 and in the opening quarter of this year. The
expansion in total civilian purchases was greatly augmented,
however, by the resurgence of consumer expenditures for
durable goods, led by the record volume of new car purchases.
Consumer durables accounted for about one-fifth of the
fourth-quarter increase in total civilian demand, and for
about two-thirds of the further rise in the first quarter.
BILLIONS OF D O L L A R S
60 —
On a monthly basis personal income has moved up fairly
steadily since the inception of the upturn, and the large increase in wages and salaries in the March total reflected the
continuation of the business recovery. The rise in nonagricultural employment in evidence since August accelerated in
March, \vith a large number of industries participating.
Industrial production continued to move up. Retail sales of
automobiles were higher in March than in any prior month
during the recent upsurge although other retail sales were
still somewhat below the Christmas 1954 peak.
National security outlays of the Federal Government,
which comprise the remaining segment of total final demand,
were virtually stable at a $40}£ billion annual rate in the opening quarter of this year. The decline in these outlays had
started to moderate in the fourth quarter of 1954 after proceeding at an average annual rate of $2}£ billion per quarter
since mid-1953. In the first quarter, deliveries of hard goods,
which had been the principal area of decline, leveled out at
approximately the fourth-quarter rate. National defense
outlays other than Department of Defense purchases, that
is combined outlays for atomic energy development, stockpiling and other related programs, have been essentially
stable over the past year. Little change is expected in the
national security total for the remainder of the current fiscal
year.
May
SURVEY OF CURRENT BUSINESS
19r>5
Inventory liquidation halted
In the first quarter, as in the fourth, national output was
in approximate balance with final purchases after lagging
behind them for about a year. The liquidation of business
inventories, which had supplemented current production in
satisfying final demand throughout 1954, was reduced
markedly in the fourth quarter and a tendency toward inventory accumulation was noticeable by the end of the opening quartar of this year.
The only appreciable increase in inventories in the first
quarter occurred in the stocks of retail auto dealers wrhich
have been steadily replenished from the low point reached
last fall just prior to the introduction of the new car models.
Small increases also appeared in nondurable goods inventories in trade.
The combined effects of the improved volume of business
activity and the reduced volume of inventories has resulted
in significant reduction in stock-sales ratios in both manufacturing and trade as compared with the first quarter of
last year.
The principal shifts in the gross national product which
have occurred during the successive phases of decline, stability, and recovery since mid-1953 are contrasted in the
following table.
Decline
Stability
Recovery
Change from
2d quarter
1953 to 1st
quarter 1954
(3 quarters}
Change from
1st quarter
1954 to 3d
Quarter 1954
(2 quarters}
Change from
3d quarter
1954 to 1st
quarter 1955
(2 quarters}
[Billions
Gross national product-
of dollars, seasonally
annual rates]
-14. 1
-0. 3
Inventory investment
-9. 6
Final purchases
-4. 5
.3
-7.4
-4.8
2.9
5. 1
National
Civilian
adjusted
14.5
6. 1
This summary illustrates the impact of the decline in
national security outlays which has progressively diminished
over this period; the marked shift in the pattern of inventory
investment; and the continuing and accelerated rate of
increase in civilian demand.
Consumer spending leads advance
The strong uptrend in personal consumption expenditures,
which constitute three-fourths of total civilian purchases,
brought the first-quarter total up to a $242 billion annual
rate—a new quarterly peak. This spending rate was 4
billion above the fourth quarter and $11% billion above the
first quarter of 1954. The latter change outstripped the
$8% billion rise in disposable personal income over the same
period and is indicative of the underlying firmness of this
broad area of demand.
The advance in disposable income, which reached a $260%
billion rate in the first quarter was accentuated by further
reductions in personal tax payments. The cut in income
taxes effective January 1, 1954, had not been fully reflected
in the nonwithheld portion of tax collections until the first
quarter of this year. In addition, year-end settlements and
current payments have also been reduced by the increased
credits enacted as part of the Internal Revenue Code of 1954.
Consumer purchases of durable goods set a new record
during the quarter and were the most dynamic element in
the advance in consumption expenditures. These outlays
increased more than 10 percent above the fourth quarter.
At a seasonally adjusted annual rate of $33% billion they
were $5% billion higher than in the first quarter of last year.
Automobile purchases accounted for the largest part of
this rise, as the third-to-fourth quarter momentum generated
by the new model changeovers carried into the first quarter
of this year with mounting strength. March sales stood
higher than in any earlier month of the current model year.
Most of the increase in the automotive group from the $13
billion annual rate in the fourth quarter to the $15% billion
annual rate in the first reflected larger physical volume.
Other consumer durables combined, which include furniture, household equipment and appliances, also moved ahead
rapidly in the recent business upturn. After showing little
change over the course of the preceding year, aggregate
expenditures for these goods started to advance in the third
quarter of last year, and by the succeeding quarter were
back up to the $17 billion annual rate of the first half of 1953.
A further marked advance in the first quarter increased this
rate by over a billion dollars. The outfitting and refurbishing of the steadily growing number of residential dwellings together with the favorable income trend have been
primary factors in the advance.
The rise in consumer expenditures for nondurable goods and
services, in marked contrast to durables, did not accelerate in
the last two quarters. Nondurables advanced in the fourth
quarter but showed no change in total in the first, while
services continued to grow at substantially the same gradual
rates as in the two preceding quarters. These expenditures
characteristically follow a much more stable pattern than
durable goods.
The most pronounced rise in the nondurables group since
the third quarter of last year occurred in clothing and shoes.
The sustained high rate of food expenditures, notwithstanding the decline in food prices, was also indicative of an increase in volume. The continued rising trend in the number
of dwelling units, in average rents, and in the closely related
utility expenditures were the principal elements in the
advance of services. Most other services have continued to
edge upward.
Housing boom continues
The advance in expenditures for fixed investment in the
first quarter reflected the further rise in residential construction. Business outlays for nonresidential construction and
producers' durable equipment showed little change in total
with a rise in expenditures for new construction counterbalancing a decline in equipment purchases.
The residential building boom continued unabated in the
first quarter as total outlays advanced at the same average
rate—about $1 billion per quarter on an annual rate basis—
that has prevailed for the past year. The most recent increase lifted the private nonfarm residential construction
total to almost $16 billion at seasonally adjusted annual
rates, a new 3-month record. This compares with a rate of
less than $12 billion in the first quarter of last year.
New private housing starts reached the seasonally adjusted
annual rate of 1,400,000 units during the quarter which
presages continued strength in activity in this important
area. The housing market is discussed more fully elsewhere
in this issue of the SURVEY.
Although expenditures for producers' durables were further
reduced in the opening quarter of this year, the recent
expansion in new orders for machine tools and electrical and
nonelectrical machinery is expected to reinforce the level of
these shipments in ensuing months.
Business outlays for nonresidential construction, after
maintaining a stable pace throughout 1954, advanced
markedly in the January-March period. Industrial expenditures for new plant, which had been drifting downward
for the past year and a half, were up over the fourth-quarter
rate.
SURVEY OF CURRENT BUSINESS
May
19f»i>
Table 1.—-National Income and Product, 1953, 1954, and First Quarter 1955
[Billions of dollars]
Seasonally adjusted at annual rates
Unadjusted
1953
i
I
II
III
IV
73.8
74.9
75.1
76.4
I
1954
1953
1955
1954
1954
i
I
I
I
III
IV
306. 2
299.9
| 1955
I
II
III
IV
298.9
299.6
298.8
302.6
208.9
197.2
163.0
9. 5
24.7
11.7
48.1
26.3
11.0
10.9
|
I
NATIONAL INCOME
BY DISTRIBUTIVE SHARES
305,0
National income
Compensation of employees _
Wages and salaries
Private
Military
_.
Government civilian
Supplements to wages and salaries
Proprietors' and rental income * _
Business and professional
,.
_
Farm
.... ,.. . ._
Rental income of persons
Corporate profits and inventory valuation
adjustment
Corporate profits before tax
Corporate profits tax liability
Corporate profits after tax
Inventory valuation adjustment
Net interest
Addendum: Compensation of general Government employees
300. 0
52.0
49.1
40.9
2.4
5.8
2.9
12.1
6.5
2.9
27
53.1
50.4
41.7
2.4
6.3
2.7
12.0
6.6
2.7
2.7
9.0
8.9
4.4
4.5
.1
2.3
8.7
8.7
4.3
4.4
i
9.1
9.2
4.5
4.7
i
2.3
2.3 |
7.9
7.6
8. 1
209.1
198.0
164.5
10.2
23.3
11.1
49.0
26.2
12.2
10.6
207.3
195. 7
16.1. 9
9.6
24.1
11.7
48.7
25.9
11.9
10.9
50.9
47.9
39.4
2.4
6.0
3.1
12.3
6.4
3.2
2.7
51.3
48.3
39.9
2. 4
38.5
39.4
21.1
18.3
-1.0
8.4
34.9
35.0
17.2
17.8
-.2
9.1
8.3
8.3
4.1
4.2
-.1
2.3
31.4
31.6
7.9
e'.o
3.0
12.2
6.5
3.0
2.7
305.9
308. 2
212.
1 200.
! 166.
i
9.
i
24.
| 12.
i
49.
:
26.
i
12.
1
11.
52.5
49.3
40.6
2.3
6.3
3.3
12.4
6.6
3.0
2.8
206.2
195.3
162. 0
10.3
23.1
10.9
50.3
26.5
13.4
10.5
210.0
198. 9
165.3
10.4
23.2
11.1
48.9
26.3
12.1
10.5
211.4
200.3
166.7
10.2
23.4
11.1
47.8
26.1
11.1
10.6
208.8
197.6
164.1
9.9
23.5
11.2
49.1
25.9
12.3
10.8
206.4
194.6
161.2
9.7
23.7
11.8
49.4
25.6
13.0
10.8
206.6
194.9
161.5
9.5
23.8
11.7
49.0
25.9
12.2
10.9
207.2
195.6
161.6
9.6
24.4
11.6
48.5
25.9
11.6
10.9
41.0
41.9
22. 5
19.5
-.9
8.3
38.3
40.9
21.9
19.0
-2.6
8.6
33.1
32. 5
17.4
15.1
.6
8.9
34.1
34. 5
17.0
17.5
-.4
9.0
34.9
34.5
17.0
17.5
.4
9.1
33.9
34.2
16.8
17.4
-.3
9.2
36.4 !
36.8
18.1 i
-.3
2.3
41.4
42.4
22.7
19.7
-.9
7.9
8.1
31.4
31.6
31.5
31.3
31.2
31.2
31.9
32.0
18.7 ;
-.4
9.2
i
-1.
9.
32.
GROSS NATIONAL PRODUCT OR
EXPENDITURE
362.0
Gross national product _
370.0
242. 0
33.4
122.1
86. 5
Personal consumption expenditures..
Durable goods
Nondurable goods
Services
'_
Gross private domestic investment New construction
Residential nonfarm
Other
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 security
Other
Less: Government sales
State and local
DISPOSITION OF PERSONAL INCOME
Personal i ncome _
-
._
Less: Personal tax and nontax payments..
Federal
State and local
Equals: Disposable personal income
Less: Personal consumption expenditures.
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 payments
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 disbur semen ts_.
Plus: Government transfer payments
Net interest paid by Government
Dividends
Business transfer payments
292.7
Equals: Personal income
1. Includes noncorporate inventory valuation adjustment.
Source: U. S. Department of Commerce, Office of Business Economics.
May 1955
SURVEY OF CURRENT BUSINESS
Seasonally adjusted expenditures for new stores, restaurants and garages in the first quarter were markedly higher
than the general level of the preceding year, which did not
exhibit much change from quarter to quarter. The steady
expansion in housing developments with their attendant
need for new or enlarged shopping facilities, extensive
modernization of existing commercial establishments, and
the generally high rate of trade activity have all given impetus to the expanded volume of construction in this field.
Other private construction components remained stable or
rose moderately during the first quarter.
Net foreign investment, which measures the excess of
exports over imports other than those financed by United
States grants and gifts abroad, was down moderately from
the preceding quarter. The shift reflected a slight increase
in United States imports and a sizable advance in Federal
grants to foreign countries which are counted as part of
government purchases. Total exports of goods and services
continued at their recent high rates.
State and local government purchases of goods and
services continue to be a potent market factor. Advancing
at approximately the same pace as in the two previous
quarters, first-quarter outlays were at an annual rate of
almost $29 billion—$2}£ billion higher than in the corresponding quarter of last year. Approximately two-thirds of the
rise in the first 3 months of 1955 was accounted for by the
still mounting volume of public construction, mainly in
highway and school expansion programs. The remainder
reflected further moderate increases in both educational and
general administrative payrolls.
Federal Government purchases other than for national
security purposes also stabilized in the first quarter after
declining substantially for more than a year mainly as the
result of reductions in the volume of farm price support
operations.
Personal income up
Personal income in the first quarter rose by $3}£ billion on
an annual rate basis, exceeding the rise in the previous
quarter. Wages and salaries were a major factor in the
advance, being even more important in the first quarter
than in the previous one.
Net income of farm proprietors showed an appreciable
rise in the first quarter as a result of a temporary spurt in the
volume of marketings. This was mainly attributable to the
placing of an unusually large quantity of crops—particularly
corn—under CCC loans during the period. According to
the Agricultural Marketing Service, farmers' net income is
expected to be a little lower in 1955 as a whole than it was in
1954.
Transfer payments which had moved up in the final quart er of last year as more liberal benefits
became payable under
the revised old-age and survivors7 insurance and railroad
retirement programs, maintained the higher level in the
first quarter of this year.
A greater-than-seasonal rise in special year-end dividend
disbursements had added to the dividend flow in the fourth
quarter of last year. In the opening quarter this addition
was substantially eliminated as a more normal rate of
payments was resumed.
Other components of personal income continued to be well
maintained.
Increase in ivages and salaries
Wages and salaries moved upward with the rise in the
national
output, and regained the peak they had reached in
the autumn of 1953. However, not all of the first-quarter
increase—$3 billion at annual rates—was reflected in personal income as employee contributions for social insurance,
which are deducted in arriving at this total, rose by about
$Yz billion. Revisions of the social security law made last
year, extending social security coverage to large groups of
workers not previously covered, and raising the earnings
base upon which taxes are paid, became effective in January.
The relative importance of the factors affecting the payroll
advance showed marked variations among the major industries as noted below. However, in total, almost two-thirds
of the advance since the third quarter of last year could be
traced to the increase in average weekly earnings as hours
were lengthened and average hourly earnings increased, with
the rise in employment accounting for the balance.
As illustrated in the chart on page 2, wages and
salaries in the manufacturing industries showed the most
marked change from previous trend. The recovery from the
lowpoint in the third quarter of last year raised manufacturing payrolls to their highest level since the third quarter
of 1953.
The advance was sharpest in the durable goods industries,
where the earlier decline had been mainly concentrated.
Among the factors contributing to this upturn have been
the spurt in consumer durables, the advance in structural
hard goods associated with the rising trend of construction
activity, and the increased demands placed upon new production by the cessation of the earlier inventory liquidation.
Within the durables group the automobile and primary
metals industries accounted for the largest share of the total
increase, although smaller gains were quite general in both
fourth and first quarters. (A sizable increase in payrolls in
the lumber industry in the fourth quarter reflected a rebound
from the third-quarter strike.)
In durable goods manufacturing industries approximately
half of the rise in payrolls since the third quarter of last year
was attributable to increased employment, with increases
in the number of hours worked and in average hourly earnings accounting about equally for the remainder. On a
seasonally adjusted basis average weekly hours worked
showed only a slight rise from the third quarter to the fourth,
but exhibited a very marked increase from the fourth to the
first quarters. The increase in employment and in averagehourly earnings, on the other hand, were similar in both
periods. All three of these elements were still on the upgrade
at the quarter's end.
Payroll advances in the nondurable goods manufacturing
industries were more moderate in scale, with the first-quarter
increase representing the first appreciable rise since the
second quarter of last year. The principal advances in this
group were in apparel, printing, rubber, and leather. In
contrast to the experience of the durables group, the lengthening workweek accounted for almost two-thirds of the
wage rise in the first quarter, with the advance in hourly
earnings responsible for most of the balance. Increased
employment had only a small effect on the total payroll rise.
Wage increases also appeared in trade, mining, services,
and finance. With the exception of trade they rested mainly
on changes in hours and in wage rates. In trade, however,
employment showed a considerable rise in both the fourth
and first quarters and accounted for about half of the payroll
increase over the period in that industry. On a seasonally
adjusted quarterly basis payrolls in most other major industries have remained fairly stable over the past three
quarters.
Profits reflect output rise
Corporate profits, excluding inventory gains and losses,
rose to a seasonally adjusted annual rate of about $36%
(Continued on p. 20}
by Harlow D. Osborne and John A, Gorman ^-
Debt and Borrowing in 1954
N,
IET public and private debt totaled $606 billion at the end
of last year, up $21 billion or 3}£ percent from 1953. Gross
debt, measured without consolidation of borrowers' accounts
rose $25 billion to $706 billion. These increases were less
than in any year since 1949, as total new borrowing continued
to taper off.
Last year's debt expansion centered chiefly in long-term
private borrowing and in State and local government bond
flotations. The largest rise was in nonfarrn mortgage debt,
the net total of which advanced $11 billion, or 13 percent,
during the year as a near-record number of new owner-type
dwellings was completed. With business plant and equipment outlays continuing high, net long-term corporate debt
was up $5 billion from the end of 1953. Net new borrowing
by State and local governments, which consists primarily of
bond flotations to finance construction, likewise amounted
to nearly $5 billion. Farm mortgage debt continued its
gradual rise.
Expansion of total private short- and intermediate-term
debt, which has accounted for a substantial part of all net
new borrowing since Korea, did not continue in 1954.
Consumer and nonmortgage farm credit rose only slightly,
while total short-term corporate liabilities declined more than
$6 billion. The only notable exception to the general pattern
of stability or net liquidation was the rise in security loans,
which was sharp in percentage terms but not sufficiently
large dollarwise to have much effect on the aggregates.
Net new borrowing by the Federal Government, which
had increased in 1952-53, receded last year to a total of about
$2 billion. Gross Federal debt including intra-Governmental
credits rose $5 billion to reach an aggregate of $294^ billion
at the end of the year. This figure includes obligations not
subject to the statutory debt limit.
Of the net public and private debt of $606 billion, private
debt constituted more than 56 percent—about
the same
fraction as at the beginning of last 3rear. Net Federal debt
accounted for 38 percent, and nearly 6 percent consisted of
State and local government obligations,
New borrowing levels off
The overall annual rate of net new borrowing in the United
States, after having risen in the earlier postwar period, has
declined consistently in every year since 1950. This broad
pattern of rise and retardation in postwar debt growth has
reflected (1) marked advances in short- and medium-term
private borrowing in 1947 and again in 1950, followed in each
case by progressively smaller debt increases in subsequent
years, (2) a comparatively steady absorption of long-term
credit year after year by non-Federal borrowers, and (3) contraction of net Federal debt through the immediate postwar
years, followed by a period of moderate expansion associated
with the post-Korean defense buildup. The 1946-54 record
is summarized in the accompanying chart.
NOTE.-MK. OSBORNE AND MR. GORMAN ARE MEMBERS OF THE
NATIONAL INCOME DIVISION, OFFICE OF BUSINESS ECONOMICS.
6
(1) "Short-term" private debt as measured here includes
all farm production credit, noncorporate commercial, financial, and consumer credit, and short-term corporate borrowing. Corporate and consumer obligations accounted, respectively, for 60 percent and 20 percent of the sum of all
these types of debt outstanding at the end of 1954; and the
1947 and 1950 spurts in the growth of the total largely
Changes in Public and Private Debt
During 1954
0
-5
CHANGE IN BILLIONS OF DOLLARS
5
10
15
20
25
TOTAL NET DEBT
FEDERAL GOVT. S
FEDERAL AGENCY
TOTAL LONG-TERM
OTHER THAN FEDERAL
NONFARM MORTGAGE
—j
CORPORATE
STATE 8 LOCAL
GOVERNMENT
FARM MORTGAGE
TOTAL SHORTTERM
?
I
OTHER THAN FEDERAL •
NONCORPORATE
FINANCIAL 8
COMMERCIAL
CONSUMER
FARM
CORPORATE
..
. .
Datg.- Ag. Dept , Treas. Dept.
FRB, 8 QBE
1
I
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
I
!
I
1
55-25-4
reflected the influence of expansion in corporate working
capital needs and in consumer buying of durable goods.
The downtrend in new borrowing after each of these peaks
was relatively sharper for corporations than for consumers.
A number of special factors, such as the 1953 rise in farm
May 1955
SURVEY OF CURRENT BUSINESS
price support lending and the 1954 expansion of security
loans, have also affected the course of total new short-term
borrowing as shown in the chart.
(2) The total of net new "long-term" non-Federal borrowing is measured here by the sum of noncorporate mortgage,
corporate long-term, and State and local debt expansion.
Growth in the annual rate of such borrowing has been
smoothed by a tendency for fluctuations in the various components to offset one another. These fluctuations have been
minor compared to those in short-term credit, however.
State and local borrowing, while generally the smallest of the
three types in dollar volume, has increased rapidly and rather
consistently except for a period of comparative stability in
1950-52. The rate of corporate borrowing reached a peak
in 1952, and has since tapered off a little. This decline has
been counterbalanced, however, by an acceleration in the
growth of mortgage debt.
(3) The total net debt of the Federal Government was
reduced $36 billion, or 14^ percent, between the end of 1945
and the end of 1948, and showed little further change during
the three following years. A rise of $11% billion during
1952-54 was associated primarily with the defense buildup.
It should be noted that the gross Federal debt, which includes
the sums borrowed by Federal agencies from one another,
has expanded more than the net debt since 1948. Gross
debt advanced $12 billion during 1949-51 and $25 billion in
1952-54.
The $1% billion borrowed by Federal agencies from the
Treasury in 1954 consisted primarily of loans obtained by
the Commodity Credit Corporation. Crop inventories held
by the Corporation rose $!}£ billion during the year, while
the total of its loans receivable showed little change on a
year-end basis (see section on farm credit.)
Annual Additions to Net Debt
Total, and Short-ferm Private
BILLIONS OF D O L L A R S
60
40
-
20
-
Money market ease
The easier credit conditions initiated in mid-1953 were
maintained throughout 1954, with a continued heavy flow
of savings into financial institutions and bank reserves ample.
The general trend of bond yields was downward in the early
part of the year and stable thereafter at levels well below
1953, and there was some liberalization of terms for mortgage
lending.
The flow of new funds to major types of savings institutions last year was in excess of $12 billion—the highest on
record—and time deposits of individuals and businesses in
commercial banks rose $3 billion.
The 1954 average of member bank borrowings from the
Reserve Banks was less than one-fifth of the 1953 average,
while excess reserves were up. The Federal Reserve System's instruments of general credit policy were used during
the year to support and stabilize the member banks' reserve
position. Reserve requirements and rediscount rates were
lowered, and the Open Market Account was active.
Federal debt expansion tapers off
The expansion in Federal debt in the calendar year 1954
was the smallest since 1951, and less than half that recorded
in 1953. At $230 billion, the consolidated net total was up
$2 billion, or less than 1 percent, last year.
Gross debt—total direct obligations of the Treasury and
other Federal agencies considered individually—amounted
to $294% billion at the end of the calendar year. This was
$5 billion higher than at the end of 1953. The increase
consisted, in round numbers, of $3% billion borrowed by
the Treasury and $1% billion borrowed by other Federal
agencies from the Treasury, the latter amount being offset
to a slight extent by a fractional decline in these other
agencies' debt to the public. Of the $3% billion of new
Treasury borrowing, over one-third was obtained from
social security and other Federal trust and investment
funds. The remainder (less the small decline in publicly
held debt of the other agencies) represented the increase in
net Federal debt.
-20
Federal, and Long-term except Federal
40
LONG-TERM
(EXCL. FEDERAL)
\
-20
I
-40
1946
1
I
47
48
J_
49
I
50
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
j_
51
j_
52
I
53
54
55-25-5
The decline in the total of new Treasury borrowing to
$3K billion from a comparable 1953 figure of nearly $8
billion reflected chiefly the improvement in the budgetary
position. With an $8 billion cut in expenditures only
partially offset by a dip of $2}£ billion in tax receipts, the
Budget deficit was reduced $5}£ billion from calendar 1953.
Treasury new-money borrowing declined by a somewhat
smaller amount, the 1953 deficit having been finajiced in
part by drawing on tiie Treasury cash balance. The magnitudes involved in these changes are summarized in the
8
SURVEY OF CURRENT BUSINESS
May 1955
accompanying text table, which also shows the extent to
which Treasury needs were met from intra-Governmental
and from outside sources.
(including Federal aid) is under $4 billion annually and total
public highway debt now outstanding is in the neighborhood
of $10 billion. A serious shortage of school facilities has also
Calendar year
persisted despite the steady rise of annual construction out1953
1954
lays from $1 billion in 1950 to $2 billion last year. In
[Billions of dollars]
February 1955 President Eisenhower proposed Federal
Budgetary deficit.
9. 2
3. 7
measures designed to improve State and local financing
facilities and otherwise promote construction in these fields.
Plus: Increase (+) or decrease ( —) in cash balance.
—• 1. 5
.6
Clearing account, etc
.1
-. 7
Borrowing for highway construction is most clearly reflected in the growth of State government debt, which adEquals: Net borrowing
3. 6
7.8
vanced 30 percent, from $6}£ billion at the beginning of the
Intra-Government_ _
2.4
1.3
5.4
2. 3
From other sources.
fiscal year to nearly $8K billion at the end. This relative
increase was much sharper than those recorded in any of the
A noteworthy feature of the year's financing operations
three preceding years, and in dollar terms last year's rise
was the decline in the dollar total of Federal securities
considerably exceeded the total expansion of 1952 and 1953
purchased by Federally administered trust and investment
combined.
funds. This decline reflected the slower growth of social
The combined total net debt of all local government units
security trust funds as unemployment compensation payat the end of June 1954 is estimated at $25 billion, up $3
ments rose.
or 13 percent, from the previous fiscal year-end.
Shifts last year from the 1953 pattern of outside fund billion,
Annual
increases
of around 10 percent had been recorded in
sources left commercial banks and State and local govern1951-53.
About
one-half the total outstanding represents
ments as the principal suppliers of new money. Commercial
obligations
of
cities
and townships, while most of the rebanks invested $5}£ billion in Federal securities in 1954—the
mainder is owed by school and special districts.
largest such investment made by these institutions since the
end of World War II. The improved reserve position of the
commercial banking system last year by comparison with
1953, and the decline of short-term private borrowing, have
Net New Lending and Outstanding Debt on
already been noted. The postwar expansion in State and
One- to Four-Family Home Mortgages
local government holdings of Federal obligations continued
with a $iy2 billion net increase.
Percent Distribution by Source of Funds
Nonfinancial corporations, personal investors, and the
Federal Reserve System, groups which had played important
PERCENT
parts in financing the 1953 debt expansion, reduced their
100 —
portfolios in 1954. As in other recent years, mutual savings
INDIVIDUALS AND
bank and insurance company holdings declined.
MISCELLANEOUS
While the net expansion of Federal debt last year was
small, it was necessary to refinance close to $76 billion of
80 outstanding marketable public debt which matured during
the year. Although the new issues were largely short- or
LIFE INSURANCE
COMPANIES
intermediate-term securities carrying low rates, in line with
the Government's policy of active ease in the money markets,
the maturity structure of the marketable debt was somewhat
60 lengthened by these operations.
SAVINGS AND
LOAN
ASSOCIATIONS
State and local government borrowing higher
Net debt of State and local governments, which had increased 11 percent in each of the two preceding fiscal years,
rose 17 percent—$5 billion—in the year ended June 30, 1954.
(Comprehensive statistics of State and local government
debt, unlike other statistics presented in this report, are not
prepared on a calendar year-end basis.) Last year's record
rise featured a very sharp expansion of new borrowing for
highway construction. The volume of new issues for school
and other construction purposes also moved up substantially.
These developments represent an extension of trends which
have prevailed throughout the postwar period and continued
into the fiscal year 1955. Construction postponed from previous years, and the filling of new needs created by the rapid
postwar rise in street and highway traffic and in the schoolage population and by the development of new neighborhoods
have occasioned a very large share of all borrowing by
State and local governments in each year since 1946.
It appears, moreover, that a substantial need for construction still remains to be met. A recent study for the
President's Advisory Committee on a National Highway
Program placed the cost of achieving an adequate system of
streets and highways by 1965 at more than $100 billion,
while the current rate of capital outlay for this purpose
40
-
COMMERCIAL
BANKS
20 -
MUTUAL SAVINGS
BANKS
1953
1954
NET NEW
LENDING
Dec. 31, 1954
TOTAL DEBT
OUTSTANDING
Data: HLBB 8 FRB
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
55-25-7
The most important single source of loan funds for State
and local governments in recent years has been the commercial banking system, which held more than one-third of
all State and local debt obligations at the end offiscal1953
and absorbed a similar proportion of last year's increase.
SURVEY OF CURRENT BUSINESS
May 1055
Corporate debt levels off
At $177 billion, total net debt of corporations was down
slightly last year, a $5 billion rise in long-term obligations
being more than offset by a reduction of $6 billion in shortterm liabilities. The increase of the long-term component in
recent years has been associated with a rapid expansion of
corporate fixed assets, which continued in 1954 at a rate only
moderately below that of 1953. The drop in short-term
debt reflected chiefly last year's lower tax liability and the
reduced need for financing associated with the decline in
inventories.
The 1954 rise in long-term indebtedness was smaller than
that recorded in 1953. This slackening in debt growth accompanied a $!}£ billion reduction in corporate expenditures
for new plant and equipment, concentrated chiefly in manufacturing and railroads. New stock issues and the provision
of funds from internal sources continued at about the 1953
rate, however. Out of a total of $26% billion in long-term
funds invested by nonfinancial corporations last year, retained earnings and depreciation allowances together accounted for roughly three-fourths, borrowing for one-sixth,
and new stock issues for the remainder.
Last year's reduction in short-term corporate debt was the
first since 1949. It affected notes and accounts payable as
well as the "other short-term" category distinguished in
table 5. Two-thirds of the overall drop of $6 billion occurred in the latter category, which includes Federal income
tax liability accrued and unpaid by year-end. Such liability
was considerably lower in 1954 than in 1953, reflecting termination of the excess profits tax and the receding of taxable
corporate profits from their 1953 peak.
The decline recorded in notes and accounts payable
stemmed chiefly from last year's inventory liquidation and
the resultant decrease in working capital requirements.
9
Some refinancing of bank loans into longer-term debt instruments was also involved, as suggested above.
The balance sheet position of corporate business in the
aggregate seems to have improved during 1954. A larger
proportion of new investment than in previous years was
financed with equity capital. The ratio of cash and Federal
securities held to current liabilities rose fractionally, as did
the ratio of total current assets to current liabilities.
Mortgage debt continues rise
Total nonfarm noncorporate mortgage debt outstanding
approached $95 billion at the end of 1954, up $11 billion or
one-eighth from the beginning of last year. The comparable
expansion during 1953 had amounted to $8)2 billion or oneninth.
Noncorporate mortgage debt on multifamily residential
and commercial property rose $2 billion during 1954 to $22)4
billion at year-end. This expansion was considerably
sharper than in 1953.
The increase in home mortgage lending was associated
with the general easing of credit conditions, noted above,
and with the marked advance in construction activity which
is described elsewhere in this issue of the SURVEY. It
featured a considerable expansion in loans guaranteed by
the Veterans' Administration, and some increase in the
relative importance of life insurance4 companies and commercial banks as suppliers of new funds.
Ready availability of home mortgage credit in 1954 reflected not only the easy state of the capital markets in
general but also the increased attractiveness of home mortgage lending as yields on most other types of investments
fell off during the year. With the concurrent rise of new 1to 4-family residential construction activity to around $12
billion for the year, and an active market in existing houses,
Tables 1 and 2.—Public and Private Debt (Net and Gross), End of Calendar Year, 1945-54
[Billions of dollars]
Private
Public
Public
and
private,
total
End of year
Individual and noncorporate
Corporate
Total
Federal 2
State
and
local
Total
Nonmoi'tgage
Mortgage
Total
Long-term Short-term
Total
Farm
Nonfarm
3
Farm 4
Nonfarm
5
Table 1.—Net Public and Private Debt«
1945
1946
1947
1948
1949
-
1950
1951
1952
1953
1954
_
406 3
397.4
417.9
434.0
448. 1
266 4
243.3
237 7
232.7
236.7
252 7
229.7
223 3
216.5
218.6
13 7
13.6
14 4
16.2
18 1
139 9
154. 1
180 2
201.3
211.4
85 3
93.5
108 9
117.8
118 0
38 3
41.3
46 1
52.5
56 5
47 0
52.2
62 8
65.3
61.5
54 6
60.6
71 3
83.5
93 4
48
4.9
51
5.3
56
27 0
32.4
38 7
45. 1
50 6
25
2.8
35
55
64
20 4
20.5
24 0
27.6
30 8
490.7
524. 6
555.4
584.7
605. 5
239.4
241.8
248.7
256.7
263 6
218.7
218.5
222.9
228.1
230.2
20.7
23 3
25.8
28.6
33 4
251.3
282 8
306. 7
328. 0
341 9
142. 1
162 5
171.0
177.9
176 6
60.1
66 6
73.3
78 8
83 7
81.9
95 9
97.7
99. 1
92 9
109 2
120 3
135.7
150 1
165 3
6.1
66
7.2
7. 7
82
59.3
67 4
75.1
83 6
94 5
61
70
8.0
91
94
37. 6
39 4
45.5
49 7
53 2
54.6
60.6
71 3
83.5
93 4
4.8
4.9
51
5.3
56
27.0
32.4
38 7
2.5
2.8
20 4
35
45. 1
50 6
5.5
109 2
120 3
61
6.6
7.2
77
59 3
67.4
75.1
83 6
94 5
8.0
Table 2.—Gross Public and Private Debt
11/45
L946
1947
1948
1949
1950
1951
1952
1953
19nl
_
.
.
-_
_-
-
. __
463. 3
457.9
486. 1
499. 0
520.0
309.2
288.0
286. 6
276. 7
287 0
292.6
272.1
269 8
258.0
266 1
16 6
15.9
16 8
18 7
20 9
154 1
169 9
199 5
222 3
233 0
109. 3
128 2
138. 8
139 6
45.3
48.4
55 0
62.8
67 7
54.2
60.9
73.2
76.0
566 8
608. 1
616. 2
681 7
706.4
290 6
297. 2
308.9
322 0
332 3
286 4
270 2
279.3
289 3
294 4
24 2
27 0
29 6
32 7
37 9
276 2
310 9
337.3
359 7
374 1
167 0
190 6
20J.6
909 6
208 8
72 2
79. 9
88.0
94 5
100 5
94 9
110.8
113.5
115 1
108.2
1. Data, for State and local governments are for June 30 of each year.
'2. Includes categories of debt not subject to the statutory debt limit.
3. Data are for noncorporate borrowers only. (See table 6.)
4. Comprises non-real-estate farm debt contracted for productive purposes and owed to
institutional lenders (includes CCC loans.)
5. Comprises debt incurred for commercial (nonfarm), financial and consumer purposes,
including debt owed by farmers for financial and consumer purposes.
341309°—55
2
99.5
71 8
135. 7
150 1
165 3
82
64
61
70
9 1
94
6. The concepts used in this report are described in the October 1950 SURVEY.
data for tables 1-7 appear in the September 1953 SURVEY.
20. 5
24 0
27. 6
30 8
37 6
39 4
45 5
49 7
53 2
Prior-year
Sources: U. S. Department of Agriculture, Agricultural Research Service; U. S. Department of Commerce, Bureau of the Census and Office of Business Economics.
SURVEY OF CURRENT BUSINESS
10
May 1955
Table 3.—Gross and Net Federal Government Debt, End of Calendar Years, 1945-54
[Millions of dollars]
Gross debt
Net debt
Duplicating debt
i
Federal
Government
and
Federal
agencv,
total *!
End of year
1945
1940
1947
1948
1949
1950
1951
1952
1953
1954
1.
2.
3.
4.
.
..
.
. ..
Federal Government
Interest bearing
Total
Total
Public
issues
Special
issues
Noninterest
bearing 2
Federal
Government
securities
held by
Federal
agencies
and trust
funds
Federal agency securities 4 b
Total
278, 114
259, 149
256, 900
252, 800
257, 130
275, 693
257, 649
254, 205
250, 580
255, 019
255, 693
233, 064
225, 250
218, 866
221,123
20, 000
24, 585
28, 955
31.714
33, 896
2.421
1,509
2, 695
2 220
2,111
14, 485
12 998
12.853
5, 194 i
8,937 ' i
39, 857
42, 398
46, 435
41,510
47, 483
27,041
30,913
34, 352
37,317
39, 346
12,816
11,485
12, 083
4,193
8, 137
11.775
10,693
11,840
3,953
7,304
266, 415
270, 188
279,317
289, 307
294, 386
256, 708
259 419
267, 391
275, 168
278, 750
254, 283
257, 070
265, 293
272, 881
275, 731
220, 576
221. 168
226, 143
231, 684
233, 165
33, 707
35, 902
39. 150
41,197
42, 566
2,425
2,349
2,098
2,287
3.019
9. 707
10, 769
11,926
14, 139
15,636 !
47, 713
51.639
56. 436
61, 195
64, 144
39, 197
42, 281
45, 893
48. 313
49, 609
8, 516
9, 358
10, 543
12, 882
14. 535
8,470
9, 292
10, 496
12, 857
14, 508
8
IS
27
37
28
Federal
Government
1,041 ! 252, 742
792 ! 229, 749
223, 318
243
216, 484
240
218, 584
833
251,073
228. 236
222, 548
215,483
217.784
1, 669
1,513
770
1,OOJ
800
218, 702
218, 549
222, 881
228,112
230, 242
217,511
217, 138
221,498
226, 855
229, 141
1,191
,411
,383
,257
1,101
y
^
46
66 j
47 i
25 !
27
Federal
agency
Source: U. 8. Treasury Department.
Percentage of total
number of VA-guaranteed
loans made in period
1953 average
1954: January
July__I
December
12-month average- _ -
H
5. Federal agency securities held in Federal Trust funds were less than $500,000 in all years
shown.
net new borrowing by home-buyers
totaled almost $9 billion,
23 percent higher than in 1953.1
Loans guaranteed by the Veterans Administration accounted for one-third of last year's net new lending on 1to 4-family units, as against one-fifth the year before, while
conventional-type mortgages represented a little over threefifths of the total in 1953 and a somewhat smaller fraction
in 1954. Loans insured by the Federal Housing Administration declined in relative importance to less than 10 percent
last year.
The expansion of lending in 1954 under Veterans Administration guarantee and the accompanying liberalization of
mortgage terms are described on pages 18-19 of this issue.
The easing of credit is shown by VA data below:
No downpa a me rd
Federal
Government
and
Federal
agency,
total
~y Ejsa
bv^,
292, 599
272,147
269 753
257, 994
266, 067
Includes categories of debt not subject to the statutory debt limit.
Includes matured debt on which interest has ceased.
Bonds, debentures, and notes payable, including securities held by U. i
Bonds, debentures, and notes payable.
Term over
25 years
5
suspension of Regulation W in May 1952, which had been
reflected in a $4}£ billion increase in 1952 and a further rise
of $3}£ billion in 1953, thus was sharply checked last year.
This decline in net new borrowing centered in the installment credit component, which rose only $0.3 billion as
against $3/2 billion the year before. Other types of credit
also expanded by $0.3 billion last year, having risen $0.2
billion in total in 1953.
As shown in the accompanying summary of Federal
Reserve Board estimates, the 1954 check in the growth of
installment credit stemmed from a continuing increase in
repayments coupled with a $1 billion drop in new loans
made. This drop was concentrated in extensions of auto
credit, which, like the much smaller total of credit extensions
for home repair and modernization, returned last year to
about the 1952 level of gross new lending. Extensions of
credit for the purchase of consumer goods other than autos
also declined. The total of personal loans made, however,
increased last year by about the same amount as in 1953.
11
22
37
The volume of new loans insured b}7 the Federal Housing
Administration, after having declined rather consistently on
a quarterly basis since the end of 1952, turned upward in
the final quarter of last year after the passage in August of
the Housing Act of 1954. The new law permits more
liberal terms on insured mortgages made thereafter, lowering
the minimum required ratios of down payment to purchase
prices and raising the permissible maximum rnaturitv to
30 years.
All lender groups increased their holdings of mortgage
debt on 1- to 4-famiJy housing properties in 1954 (table 6).
As in other recent years, savings and loan associations provided the largest share of the new funds. (See chart on p. 8.)
Life insurance companies and commercial banks invested
relatively more than in 1952 or 1953, while mutual savings
banks accounted for a slightly smaller percentage of the overall rise last year than the year before. The limited information so far available points to a decline from 1953 in the
relative position of individuals and others in this field.
Consumer credit outstanding at the end of 1954 totaled
$30 billion, up only 2 percent, or $%' billion, from the beginning of the year. The rapid growth of such credit after the
1. See table 7. A relatively small amount of corporate borrowing, mdncled in tab!:1 (i and
in the total analyzed by type of loan and lender group below, is excluded from these figures.
Federal
Government
Federal
and
agency 3 j Federal
agency,
total
1952
1953
1954
[Billions of dollars]
3. 8
3. 5
0. 3
New extensions
Auto loans
Other consumer goods paper
Repair and modernization loans
Personal loans
28. 4 30. 3 29. 3
12. 3 13. 6 12. 5
8. 0 8. 0 7. 7
1. 2
1. 4
1. 2
6. 9
7. 3 7. 8
Repayments
24. 6 26. 8 29. 0
Aggregate personal consumption expenditures for automobiles and parts in 1954 were down about 5 percent from
the previous year. With the early introduction of the 1955
models, however, sales moved upward in the fourth quarter
to about the 1953 average rate. Reflecting this improvement in sales, automobile credit extensions rose at year-end
and have continued to expand in early 1955.
Commercial bank holdings of consumer debt declined somewhat last year. Net new lending underwritten by sales7
finance companies and credit unions, at $}£ billion, and b}
retailers and others offset this contraction and financed the
small increase in the total of consumer debt.
Farm debt increased nearly $1 billion during 1954 to a
year-end total of close to $18 billion. The rise was about
half that recorded for the previous year, when price support
lending had expanded sharply.
Net new lending on farm mortgages, at $}£ billion, was
about the same as in 1953. Although the number of farms
SURVEY OF CURRENT BUSINESS
May l!)r>r>
sold was off in 1954, the national average of prices paid was
up slightly, and major lending institutions increased the
average ratio of mortgage to purchase price. There was
substantial geographic variation in farm credit conditions,
the course of land prices, and the extent of new mortgage
lending last year. As in other recent years, life insurance
companies were the chief single source of farm mortgage
credit, although net lending by commercial banks showed a
substantial advance over 1953.
Short-term farm production credit outstanding at the end
of 1954 was up $0.3 billion from the beginning of the year.
In 1953 such debt had expanded about $1 billion. The out-
11
standing total of price support loans made or guaranteed by
the Commodity Credit Corporation dropped fractionally in
1954 after having risen more than $1)2 billion the year before.
As prices of most of the commodities included in the Commodity Credit Corporation program remained at or below
support levels, the bulk of the CCC loans made in 1953 were
carried into 1954 and allowed to lapse at maturity, the
pledged crops being taken into the inventory of the Corporation. The associated drop in price support credit outstanding was limited and eventually about canceled by the expansion of lending secured by the 1954 crops. The accompanying text table, which is based on the CCC reports of financial
Table 4.—Gross and Net State and Local Government Debt, June 30, 1945—54
[Millions of dollars]
Duplicating debt 2
Gross debt
Net debt
End of fiscal year
Total i
1945
1946
1947
1948
1949
__
.
- -
19503
1951 33
]%23
1953
1954 3
. . ._
-
._. ... ._
_
Local
Total
16, 589
15, 922
16, 825
18, 702
20, 875
2, 425
2, 358
2,978
3 722
4,024
14, 164
13, 564
13, 847
1 4 980
16, 851
2,864
2 349
2, 428
2 476
2, 726
1,046 !
754
804
851
970 !
24 191
27, 040
29 624
32 735
37, 904
5 361
6, 373
7 040
8 001
10, 204
18 830
20 667
22? 584
24 734
27, 700
3 468
3 693
3 852
4 176
4 523
1 398
1 482
I 465
1 628
1. 953
1. Includes State loans to local units.
2. Comprises State and local government securities held by State and local governments.
3. Data for 1950 through 1954 are not strictly comparable with 1949 and earlier years. (See
"Governmental Debt in 1951," Bureau of the Census, December 1951.)
Total
Local
Local
State
12, 346
1,818
1 595
1.624
1 625
1,756
13, 725
13, 573
14, 397
16 226
18, 149
1, 379
1, 604
2,174
2 871
3,054
11,909
12,223
2
2
2
i
2
20 723
23 347
25 771
28 559
33, 381
3 963
4 891
5 575
6 373
8,251
20, 196
!
1
!
'l
'
070
211
387
548
570
13, 355
15,095
10, 760
18,456
22,186
25,130
Source: U. S. Department of Commerce, Bureau of the Census and Office of Business
Economics.
Table 5.—Gross and Net Corporate Debt, End of Calendar Year, 1945-54
[Millions of dollars]
All corporations
i
i
End of year
Tota!
i
i
!
I
Railway corporations
Short-term '
te?m>
Total
\
Notes and |
accounts i Other
payable |
Long- |
term i :
Tota
1
•
Nonrailway corporations
Short-terra *
!
|
i
;
| Notes and i
;
i accounts Other
i payable
|
Total
J
,
T
A (Ta!
!
i Long- !
i term i ;
i
Short-term '
Total
Notes and
accounts Or.lu-.r
payable ;
i
Gross Corporate Debt
1945
19461947
1948
1949
99, 523
109, 292
128, 157
138, 799
139, 554
45, 321
48, 435
54, 988
62, 808
67, 720
54, 202
60,857
73, 169
75, 991
71, 834
25, 718
31, 667
37, 676
39, 248
37, 338
28, 484
29, 190
35, 493
30, 743
34, 496
15,411 I
13,714 !
14, 173 <
13,995 !
13,710 i
11 874
10 877
11 169
11 124
11, 244
3. 537
2.837
3, 004
2. 871
2. 466
2,656
881
799 1 2,038
904
2, 100
S72
1 , 999
769 I 1 , 697
1950
1951
1952
1953
1954
167, 036
190, 637
201, 559
209, 581
208 754
72, 153
79, 855
88, 016
94, 527
100 509
94, 883
110, 782
113, 543
115,054
108 245
48, 096
54, 700
59, 055
58, 394
56, 003
46, 787
56, 082
54, 488
56, 660
52, 242
14,280 i
14,463 i
14,587 1
14, 123 !
13,592 I
11, 204
11 377
11 498
11, 236
11 145
3.016
915
903
906
882
781
3, 086
3. OS9
2.887
2.447
j
i
I
j
i
2, 101
2,183
2, 183
2, 005
1. 666
84
95
113
124
125
112
578
984
804
844
33, 447
37, 558
43, 819
51, 684
56, 476
50, 665
58, 020
70, 165
73, 120
69, 368
24 S37
30 S'rs
3t> 772
^s 37u(
5t. )
152, 756
176 174
186 972
195, 458
195, 162
60, 889
68, 478
76, 518
S3, 291
89. 364
91,867
107, 696
1] 0,454
112, 167
105. 798
47
1*1
r
w 7*>7
r
»S 149
^7 >12
55 222
^
Duplicating Corporate Debt
1945
1946
1947
1948
1949. . ..
14 231
15 754
19, 275
21 018
21,' 561
6 999
1 092
8,902
10 322
11, 186
7 232
8' 662
10, 373
10 696
lOJ 375
4 264
5 256
6,247
6 518
6,203
2 968
3 406
4, 126
4 178
4* 172
1 485
' 807
1, 499
1 496
l] 486
1 099
' 467
1, 172
1 205
1,224
386
340
327
291
262
j
!
i
i
124
111
126
121
107
262
229 I
201 i
170 i
155 ;
12,746 I
14,947 I
17,776 !
19,522 !
20,075 i
5. 900
6, 625
7. 730
9. 117
9, 962
6, 840 !
8,322
10,046 !
10,405 1
10, 1 13 i
4, 140
5, 145
(i. J 21
6. 397
ft. (196
1950
1951
1952
1953.. ..
1954
24 978
28, 121
30 529
31. 642
32 166
12 007
13, 266
14 682
15, 715
16 785
12 971
14, 855
15 847
15, 927
15 381
7 991
9, 093
9 819
9, 709
9 314
4 980
5 762
6 028
6 218
6 007
1
1
1
1
1
1
1
1
1
1
291 '
303
298
280
261
127
126
126
122
109
164 :1
177
172 ;
158
152
23, 421 i
26,632 i
29.047 !
30,340 !
30,884 |
i
10,741
12, 080
13, 498
14, 093
15, 764
12, 680 :
14,552 l'
15,549
15,647 !
15, 120
J.S61
S. 967
u -I!9.' 205
71, 366
80 631
96' 208
105 282
105 769
27 547
30 933
36' 089
42' 567
46 514
43
49
60
62
59
129 335
149] 542
157 925
165 118
164' 278
50 148
56, 398
63 020
68 598
73 600
79 187
93,' 144
94 905
96 520
90 678
557
489
482
302
282
266
186
184
022
021
3, 925
4.00S
4.017
Net Corporate Debt
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954-
_
__ _
.
85, 292
93 538
108 882
117,781
117 993
38, 322
41 343
46 086
52, 486
56 534
46, 970
52 195
62, 796
65, 295
61 459
142 058
162, 516
171, 030
177 939
176 588
60 146
66, 589
73. 334
78 812
83 724
81 912
95, 927
97, 696
99 127
92 864
21, 454 25, 516
26 411 25 784
31 429 i 31*367
32, 730 ! 32 565
31 135 i 30 324
1
40 105 i 41 807
45,607 50,' 320
49, 236 48 460
48 685 50 442
46 689 i 46 175
'
1
13 926
12 907
12' 674
12 499
12 224
10
10
9
9
10
775 1
410 i
997 i
919
020 !
3. 151 :
? 497 •:
2 677
2 580 ;
2 204
757 i 2 394
688
1 809
778
1 899
751
1 829
662
1 K42
12 723
12, 974
13 105
12 821
12 310
9 998
10! 191 !:
10 314
10 21^
'
10 194 >
2 725 •
2, 783
2 791 ;
2 607 '
2 186
788
777
780
760
07'?
1. Long-term debt is defined as having an original maturity of 1 year or more from date of
issue; short-term debt as having an original maturity of less than 1 year.
•
i
'
•
i
1 937
2, 006
2 Oil
1*847
1 514
819
698
119
715
255
20
2r>
30
31
30
697
723
651
979
473
39 317
44, 830
48 456
47 925
46 017
Source: U. S. Treasury Department, Internal Revenue Service; Interstate
Commission; U. S. Department of Commerce, Office of Business Economics.
23
23
29
30
28
122
975
468
736
789
39 87 i 3
48,314
46 449
4S W44 661
SURVEY OF CURRENT BUSINESS
12
condition, reflects these seasonal swings and the net changes
over the year as a whole.
The advance was concentrated in the security loan
component, which includes customers' debit balances with
brokers and bank loans made for the purchase or carrying of
securities. The total of these items increased $1.1 billion
in the first nine months of last year, and rose $1.1 billion
more in the final quarter.
This expansion was associated with a sustained rise in
stock prices and a high level of trading activity on the
securities exchanges. The SEC index of weekly closing
prices of common stocks rose 43 percent during 1954, about
one-third of this advance coming in the final quarter, while
the total value of stock sales on registered exchanges expanded from less than $5}£ billion in the first quarter to $7%
billion in the third and over $9 billion in the last three months
of the year. Margin requirements remained at 50 percent
throughout the year, but were raised to 60 percent in
January 1955 and to 70 percent in April.
Life insurance policy loans outstanding, the other major
component of financial debt, rose fractionally in 1954 as in
other recent years and reached a total of $3 billion at yearend.
Commerical debt owed by noncorporate business, at $12%
billion last year, was up 6 percent from 1953. This category
of debt includes bank loans for commercial and industrial
purposes, which declined fractionally, and auto, singlepayment, and other consumption-type debt incurred by
business proprietorships and partnerships, which rose.
CCC Loans and Inventories
[Billions of dollars]
Loans
Outstanding at end of 1953
Change in 1954: 1st half
2d half
Outstanding at end of 1954
Inventories
3. 0
—. 7
.6
2. 9
Mav
2. 7
1.0
.5
4. 3
The Government has taken several steps tending to limitits future liability vmder price support programs. New 1954
legislation permits the Secretary of Agriculture to set price
supports for basic crops in the 1955 crop year and thereafter
below 90 percent of parity, under certain supply and market
conditions, and provides for a gradual broadening of the use
of a modernized parity formula beginning in 1956. Most
basic crops are subject to both acreage allotments and
marketing quotas this year.
Conventional short-term farm credit rose $0.4 billion last
year, reversing a 1953 decline. One factor in the 1954
increase was a renewed buildup of cattle on feeder lots, as
cattle prices firmed after a sharp drop in the previous year.
Sharp rise in financial debt
Financial debt rose 30 percent in 1954 to a total of $10}£
billion at the end of the year. This was the largest relative
increase recorded for any category of private debt.
Table 6.—Nonfarm Mortgage Debt by Borrowing and Lending Groups, by Type of Property, End of Calendar Year, 1945—54 1
[Millions of dollars]
Residential and commercial
End of year
Total
1945
1946
1947
1948
1949
.
1950
1951
1952
1953 _ 1954 »
Corpo- Noncorporate
rate borrowers 2 borrowers
1-4 family residential
Total
Savings
and loan
associations
i
Life in- Mutual CommerIndividsurance savings
cial
HOLC FNMA uals and
carriers banks
banks 1
others 3
Total
Savings
and loan
associations
!
30, 776
36, 862
43, 853
50, 910
57, 100
3,821
4,419
5,121
5,843
6,514
26, 955
32, 443
38, 732
45, 067
50, 586
18, 543
23, 059
28, 161
33, 261
37, 496
5,156
6,840
8,475
9,841
11,117
2,258
2,570
3,459
4,925
5,970
1,894
2,033
2, 283
2,835
3,364
2,875
4,576
6,303
7,396
7,956
66, 711
75, 585
84, 002
... 93, 347
105, 257
7, 374
8,203
8,923
9,721
10, 798
59, 337
67, 382
75, 079
83, 626
94, 459
45, 072
51,872
58, 684
66, 263
75, 595
13, 104
14, 801
17, 590
20, 923
24, 993
8,392
10,814
11,696
13, 473
15, 440
4,312
5,331
6,194
7, 373
8,750
9,481
10 275
11,250
12,025
13.250
.-
Multifamily residential and commercial
v Preliminary.
1
The data represent mortgage loans on commercial and residential property, excluding
multifamily residential and commercial property mortgage debt owed by corporations to
other nonfinancial corporations.
2. The corporate mortgage debt total is included in the total corporate long-term debt
outstanding, table 5.
|
i
!
j
I
i
'
!
\
!
i
Life in- Mutual CommerIndividsurance savings
cial
FNMA uals and
carriers banks
banks
others
852
636
486
369
231
7
6
4
198
806
5, 501
6,398
7,151
7,697
8,052
12, 233
13, 803
15, 692
17, 649
19, 604
220
301
381
464
499
3,602
3,790
4,321
4,918
5,798
2,290
2,382
2,545
2,938
3,304
1,376
1,957
2,320
2,627
2, 780
2
23
4, 745
5, 373
6,125
6, 700
7, 200
10
1,328
1,818
2, 210
2,358
2,328
8,445
8, 833
9,444
10,111
10, 834
21, 639
23, 713
25, 318
27, 084
29, 662
518
719
746
959
1,149
6,383
6,973
7,550
7,963
8,441
3,906
4,538
5,133
5,517
6,201
3,214
3,453
3,559
3,743
4,165
18
30
30
102
106
7, 600
8, 000
8, 300
8,800
9, 600
3. Includes portfolio loans of the Veterans Administration.
Sources: Federal Savings and Loan Insurance Corporation; Board of Governors of the
Federal Reserve System; U. S. Department of Commerce, Office of Business Economics.
Table 7.—Individual and Noncorporate Debt, End of Calendar Year, 1945-54
[Millions of dollars]
Farm
Farm and
nonfarm
total
End of year
1945
1946
1947
1948
1949
54, 622
60, 606
71, 339
83, 464
93, 445
-
1950
1051
1952
1953
1954
109, 151
120,339
„ -. - - ._
135, 704
150, 070
165, 319
Nonfarm
Nonfarm mortgage
Total
farm
Farm
mortgage i
7,250
7,652
8, 610
10, 793
12, 028
12, 220
13, 565
15, 139
16, 778
17, 624
4,760
4, 897
5, 064
Farm pro- Total nonduction
farm
loans 2
2,490
2, 755
5,288
5,579
3,546
5,505
6,449
6,071
6,149
6,588
7,154
7, 656
8, 200
6,977
7,985
9,122
9,424
Total
Other
Multi1-4 family family arid
commercial
17,616
9,339
Total
47, 372
52, 954
62, 729
72, 671
81, 417
26, 955
32, 443
38, 732
45, 067
50, 586
21, 906
26, 753
31, 598
35, 621
10, 537
20,511
13, 469
14, 965
23, 997
27, 604
30, 831
96, 931
106, 774
120, 565
133, 292
147, 695
59, 337
67, 382
75, 079
83, 626
94, 459
42, 818
49, 278
55, 750
62, 950
71, 815
16, 519
18, 104
19, 329
20, 676
22, 644
37, 594
39, 392
45, 486
49, 666
53, 236
11,979
20, 417
Commercial
Financial 3
4,432
6,238
10, 320
8,073
7,757
5,970
Consumer
5, 60.5
4, 813
5,120
8,384
11,570
14,411
9,918
6, 863
20, 813
12, 181
12, 086
12, 716
7, 478
8, 043
10, 395
25, 827
29, 537
30, 125
7, 614
11,272
5,889
6.652
17, 104
21,468
Sources: U.S. Department of Agriculture, Agricultural Research Service; Board of Governors of the Federal Reserve System; U. S. Department of Commerce, Office of Business
Economics.
brokers, and debt owed to life insurance companies by policy holders,
by L. Jay Atkinson
The Housing Market
J. HE strong market for new houses has been an important
influence in the expansion of business activity since the
end of World War II. For nearly a decade no significant letup
has occurred in residential construction, and the number of
nonfarm housing starts has exceeded 1 million in each of the
past 6 years.
The current situation is one of very active demand. The
number of starts was at a seasonally adjusted annual rate
of 1.4 million for the first quarter of 1955 following a marked
advance in the latter part of 1954. Immediate prospects are
reflected in considerably higher VA appraisal requests than
a year ago and somewhat higher FHA applications. The
rise in residential construction activity during the course of
1954 followed a general easing in the money market beginning
in the latter part of 1953 and a subsequent easing in mortgage
financing.
The latter has taken the form of more ready availability
of mortgages with liberal credit terms, chiefly those guaranteed or insured by the Federal Government. A substantial
reduction has been made in minimum downpayment requirements. Some lengthening in the amortization period for
mortgages and a reduction in interest rates for conventional
mortgages have also occurred. The liberalization of credit
terms has had a stimulating influence upon the purchase of
new houses.
This article reviews some of the influences affecting the
demand for housing including such physical factors as population growth, age distribution, household formation, and
migration as well as such economic factors as income, liquid
assets, and mortgage financing.
The upsurge in births in 1947 followed the record number
of marriages at the end of the war, and was mainly an advance in first births. Since then, however, the marriage
rate has dropped back below that of the late 1930's, but the
birth rate has been sustained by successive advances in
second, third, and fourth births. Although other measures
of housing requirements discussed below show varying tendencies, the pressure of rapid increase in total population is
a generally expansive influence upon housing demand.
The growing need for more housing space, accompanied by
high income and generally favorable financing conditions,
has contributed not only to the high rate of residential construction as a whole and record expenditures for additions
and alterations, but also to a more rapid growth in one-
The rate of population growth is as
high as in the early twenties
RATE PER 1,000
POPULATION
40
30
RATE PER 1,000
WOMEN, AGE 15-44
160
NOTE.—MR. ATKINSON IS A MEMBER OF THE CURRENT BUSINESS
ANALYSIS DIVISION, OFFICE OF BUSINESS ECONOMICS.
120
(RIGHT SCALE)
20
80
10
40
Influence of population growth
A basic aspect underlying the demand for housing is the
need or space requirement of the population. Such a requirement depends both upon the total number of people and the
varying characteristics of the population—age distribution,
birth rate, new family formation, and the size of family or
of household.
Total population is increasing about 1% percent per year,
or about twice as fast as in the decade of the 1930's. In
terms of actual numbers, as shown in the lower panel of the
accompanying chart, population of the United States is now
increasing about 2% million per year. This is about 3 times
the average annual increase during the decade of the thirties,
and about 50 percent above that of the twenties.
The current rate of population increase is about equal to
that of the early 1920's. The rate of growth was declining
during the twenties with a very substantial fall in the birth
rate during that period. The birth rate continued to decline
for a few years after 1930, and then recovered very slightly
between 1935 and 1940. (See upper panel of accompanying
chart.) It rose during the war years, and soon after World
War II advanced sharply to a rate about equal to the mid1920's, and has averaged close to this rate in the past decade.
LIVE BIRTHS
'\~
POPULATION GROWTH
(LEFT SCALE)
I I I I I I I I I II II I I I I II I I I ! I I I I I I I II I I I I I I II I II II
The absolute increase is substantially
above earlier periods
MILLION PERSONS
4
MILLION PERSONS
4
ANNUAL INCREASE
IN POPULATION
0
I 1 I I I I I M i I i t I M I I M I I I M I M I i I I I I I I 1M M I I M
1910
15
20
25
30
35
40
45
50
55
DATA: CEN.-BUR. ft HEW
U. S DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
55-25-8
13
SURVEY OF CURRENT BUSINESS
14
family houses than in multifamily units as a part of the
general suburbanization movement.
For a number of years after the war, the emphasis had
been upon relatively small houses, with special financing
provisions introduced in 1950 for "economy" houses within
the budget of moderate income families. In more recent
years, however, there has been some movement toward
larger houses as many families have outgrown their accommodations. The median area of new single-family houses
insured by FHA has risen 10 percent in the past 5 years.
In recent years, there has also been a decline in construction
of multifamily units, particularly the smaller types, and
governmental guaranty and insurance of these projects has
been curtailed. Limited surveys have suggested some
increase in vacancies for rental housing in certain metropolitan areas.
Shifts in Age Distribution
An important consequence of the changing rate of population growth in the past generation that affects housing
requirements is a shift in age distribution. This shift stems
primarily from two developments (1) the long decline in the
birth rate in the twenties and thirties and the subsequent
extended advance, and (2) the increase in life expectancy,
which has been especially marked for women.
As shown in the accompanying table, the trough in births
during the 1930's either limits the advance or brings actual
declines in the various age groups whenever those born
during the 1930's "pass through 7 ' a given age bracket. The
small annual classes are followed in turn by large annual
classes born during and after World War II. We are now
experiencing a sustained rise in the population under 20
years of age, whereas the number in the age group 20 to 34
is currently declining and will show no substantial advance
until after another decade has passed. Meanwhile large
relative advances are occurring for each of the two older
groups, with continued rapid rise in prospect for those 65
and older. The latter increases have special consequences
for housing requirements which are discussed below in
connection with changes in households.
New family formation
One aspect of shifts in age distribution which is especially
relevant to housing requirements is its bearing upon the
change in new family formation, which in turn is closely
related to changes in the number of households. The birth
pattern of the past is the primary influence affecting net
new family formation, i. e., marriages less divorces, although
other factors, including particularly alterations brought
about by the depression and World War II, have also been
important.
For a number of years, however, the average age at first
marriage has been in the neighborhood of 20 for females
Table 1.—Change in Population by Age Groups, for the United
States Including Armed Forces Overseas
[Percent]
Annual rate of change
Age groups
Under 20
1920-30 1930-40
1.1
1940-45 1945-50 1950-55 1955-60 1960-65 1965-70
-0.5
0.4
2.2
3.2
i 2.6
1.3
1.1
1.0
.4
— 4
-.5
1.1
3.6
2.4
1.6
1.7
1.6
1.5
1.5
.9
.4
3.6
3.2
3.4
2.7
2.5
2.1
1.8
20 to 34
35 to 64
65 and over..
3.4
1. Includes projections based on future birth rates.
Digitized for Source
FRASER
of data: IT. S. Deportment of Commerce, Bureau of the Census.
May 1955
and 23 for males, while the proportion of the population
getting married, though very substantially higher than 20
years ago, has been relatively stable. The average annual
number of each sex in the age group 20 to 24 years is about
equal to net new family formation (see chart of females age
20 to 24).
Since the classes born in the years 1931-35 when the birth
rate was quite depressed are now in this age group, net new
famity formation is now at a relatively low rate. Little
further change in the size of the classes reaching marriageable age will occur for the next few years. During the
decade of the 1960's, however, a substantial rise is in prospect, and in the latter part of the decade the number reaching these ages will be fully half again as large as at present.
The implication of this trend in new family formation is
significant for housing requirements. Though the demand
for new houses depends upon numerous factors, some of whose
influences are not readily gauged, the change in the prospects
for new family formation is an important basic influence.
In summary, for the next 5 years, new family formation is
to be at a relatively low rate; it will begin to rise after about
5 years, and will be up substantially in about 10 years. In
other words, basic requirements arising from new family
formation are going to be quite large within several years,
though they are rather low in the years immediately ahead.
Since the increase in new family formation is now quite
small in relation to recent building activity, the maintenance
of the high current rate for the next few years turns upon
other influences besides new family formation.
Among these, changes in the amount of "crowding" or
"doubling up" of families in households do not appear likely
to be of major importance in this period. The upsurge in
family formation at the end of the War, before postwar housing construction had gotten fully underway, resulted in
considerable doubling up of families. In 1947, there were
nearly 3 million married couples who did not have their
own household. Since that time the number of families
"doubled up" has declined steadily, so that it is now only
about half as large as in 1947, and somewhat smaller than in
1940. The group of approximately \% million couples without separate households at the present is about the same as
in 1930, following the building boom of the twenties, although
the proportion doubled up is considerably lower now. About
6 percent of married couples did not have their own household in 1930, whereas about 4 percent are now without a
household of their own. In the past 2 years declines in
the number in this group have been quite small, and further
changes may be of similar magnitude.
The number of people in the older age groups is increasing
both because of the natural effect of a growing population—
i. e. the rising trend in births a generation or more earlier—
and the reduction in mortality. These influences are bringing a rise in the number of older couples. Moreover, with
more adequate retirement and other supplementary income
for the rising proportion of the population in the upper age
groups, more of these older couples are able to maintain
their own households. In addition, there has been a pronounced tendency in recent years for older age single persons—particularly women—to maintain separate households
much more commonly than in earlier periods. This "undoubling" or less consolidation of families or generations in
a single household reflects a rising level of real income with
increased employment opportunities for women.
Other types of households
In recent years there has been a trend toward the establishment or maintenance of households by individuals or groups
other than married couples, reflecting a combination of
influences, including those discussed above.
SUEVEY OF CURRENT BUSINESS
May 195;
Unrelated individuals, particularly, have established or
maintained separate households much more commonly in
recent years than in the past. Between 1950 and 1954 there
was an increase of 1.2 million in unrelated individuals as
household heads as compared with 1.8 million for married
couples. In relative terms households of unrelated individuals increased by one-fourth as compared with a rise of
only 5 percent for married couples. This influence is partially
offset, however, by a tendency for an increasing proportion
of the population to get married. The proportion of married
persons in the adult population rose from 60 percent in 1940
to 67 percent in 1950 and to 69 percent in 1954.
Groivth of households
In the 2 years ending April 1954, the total number of
households increased at an annual rate of 700,000. Though
the reported annual changes are somewhat erratic, perhaps
as a result of technical differences in measurements, there is
a clear tendency in recent years for the rate of growth to
slacken somewhat. This slackening reflects the smaller
classes reaching marriageable age in recent years, and a
decline in the rate of undoubling of married couples and
related persons. The medium series projected by the
Census Bureau is for an average increase of 625,000 households annually in the next 5 years.
Family Formation and
Marriageable-Age Women
MILLIONS
2.0
NET NEW-FAMILY
FORMATION
1.5
1.0
PROJECTION BY
CENSUS BUREAU
(1955,60,65,3 70)
WOMEN, ANNUAL A VERAGE
AGE-CLASS 20-24
1900
1910
1920
1930
1940
I960
I960
1970
DATA; CEN.BUR. 8 HEW
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
55-25-9
Thus, the growth in households is now appreciably smaller
than during the past 15 years, whereas population growth is
at a peak in absolute terms and is near the highest point of
the past 30 years in relative terms. These influences would
appear to be partly offsetting in their effect upon housing
requirements. The high birth rate tends to make families
desire larger living quarters—either additions or a larger
house. Under generally favorable economic conditions,
such needs have a strong positive influence upon the demand
for houses.
15
Shifting population needs
Migration has brought some increase in total housing requirements in the United States and has had an important
differential effect upon the various areas. Since the early
1920's immigration from abroad has been a relatively minor
influence, but internal migration has been substantial.
Approximately 5 million persons change their residence
from one State to another annually, according to sample
surveys conducted by the Bureau of the Census, and another
5 million move from 1 county to another within the same
State.
To a considerable extent such migration tends to cancel
out in a national equivalent of "musical chairs," but there
are strong tides of "net" migration. The oldest of these is
the net movement of population off the farm into urban
areas. Between 1940 and 1950, the population residing on
farms declined approximately 5 million, or nearly one-fifth,
and the number of occupied farm dwelling units declined
about 1 million. The number of farm residences vacated
during the decade was somewhat greater in view of the
construction of nearly a million new farm homes during
this period. In 1950, about 10 percent of the farm dwelling
units were vacant, with most of the vacancies reported to be
dilapidated, or otherwise unavailable for rent or sale.
In the period since 1950, the migration from the farm has
continued; by 1954, farm population had declined another
3 million despite a considerable excess of births over deaths
for the farm population. This continuing and substantial
net migration from farms leaves a considerable number of
vacant dwellings which are unavailable for occupancy and
thus not a part of the effective housing supply. A roughly
equivalent number of nonfarm housing units (about 600,000)
is required for these migrants in addition to that indicated
by the estimates of housing needs inferred from changes in
total households.
A second major net migration is from the central areas of
cities to the suburbs. This is reflected in an increase of 44
percent in dwelling units in the peripheral areas of standard
metropolitan areas between 1940 and 1950, whereas the
number of dwelling units in central cities rose about onefifth during the same period. The substantial growth in the
number of dwelling units in central cities during the decade
reflected the continued movement of the population toward
metropolitan areas together with some immigration from
outside continental United States. There were no large
cities which failed to grow during the decade, and no extensive
abandonment of dwelling units such as that occurring on
farms.
At the time of 1950 census, vacancies in urban areas were
relatively few, averaging 3.5 percent for total vacancies,
about half of which were available for sale or rent. Thus
suburbanization had as its major effect the stimulation of
construction in the suburbs in preference to the central areas
and may have had only limited influence upon total housingrequirements or demand.
The third major net migration is the movement "toward
the sun"—to the far Western and Southwestern States and
Florida. In the decade ending in 1950, the number of
dwelling units increased one-half in the Pacific area and onethird in the South Atlantic area including Florida as compared with less than one-fourth for the United States as a
whole. These trends have continued since 1950 with these
areas showing a larger number of starts during 1950-53 in
relation to total dwelling units than any ether area in the
United States.
The net effect upon total housing requirements nationally
is largely counterbalanced by less active construction in
areas where population is growing more slowly or declining.
SURVEY OF CURRENT BUSINESS
16
To the extent that the net migration is from metropolitan
areas, the dwelling units left behind are largely available for
occupancy by others, and thus total housing requirements
are little affected. On the other hand, net movement from
rural areas and villages remote from metropolitan areas may
add substantially to housing requirements.
Table 2.—Household Status of Family Groups and Individuals in
the United States
[Units in thousands]
Average annual change
Type of unit
1940
1952
1947
1950
1954
April April March April April 1940- 1947- 1950- ! 195247
Married couples
28, 517 33, 543 36, 091 36, 696 37, 346
With own household. _ 26, 571 30, 612 34, 075 35, 138 35, 875
Without own household
... 1,946 2,931 2,016 1,558 1,471
Percent without own
household
718
874
577 1, 187
52
290
510
141 -314 -220
8.7
5.6
4.2
3.9
Other family groups. _ __„ 5,711 5,374
With own household.. _ 4,920 4,352
Without own household
791 1,022
5,614
4,763
5, 943
5, 067
5,963
5, 086
-48
-81
82
141
158
146
851
876
877
33
-59
12
Percent without own
household
Unrelated individuals
With own household
(Primary individu als)
Without own household (Secondary
individuals)
Total households
6.8
50
54
325
368
-44
10
10
13.9
19.0
15.2
14.7
9,277
8,491
9,136
9,301
9,700 -112
221
79
200
3,458
4,143
4,716
5,299
5,932
196
280
316
5,819
4,348
4,420
4,002
3, 768 -210
25 -201
-117
14.7
34,949 39, 107 43,554 45,504 46,893
98
594 1,525
936
694
Source of data: U. S. Department of Commerce, Bureau of the Census.
In any case the stimulus provided by extensive capital
formation in the rapidly growing areas, through its effect
upon job opportunities and incomes, exerts indirectly a
stimulating influence upon the effective demand for new
dwelling units.
Basic demand factors
Although the physical or demographic influences upon the
demand for housing are basic forces, the principal economic
factors are also of key importance. Despite the significance
of each of these factors, however, much of the fluctuation
in housing demand appears to be only vaguely related to
corresponding changes in the available demographic and
economic indicators.
Like capital investment generally, new housing investment
appears to behave to a considerable extent autonomously;
thus, while it is conditioned by the types of demographic
factors which have been discussed, as well as by changes in
consumer income and price relationships, it also exerts an
independent influence upon economic activity. It tends to
form a higher proportion of gross national product when the
latter is high and to form a smaller proportion when product
is depressed; this is only a general relationship, however,
and there appear to be special waves or cyclical effects in
housing activity that are more pronounced than those of
aggregate output. They appear to be affected by growth
requirements and the demand situation in general, but the
latter influences appear to be of varying significance from
one period to another. As a consequence, comparisons
based upon time series do not show a close and stable relationship between growth needs and consumer income on the one
hand and residential construction on the other. Credit
conditions are an important additional determinant of housing demand, but to a considerable extent changes in the rate
May 1955
of residential construction cannot be determined by reference
to other series.
This is illustrated by a comparison of housing activity in
the interwar period and the principal demographic and
economic series available. For the period 1922-40, nonfarai
housing starts were more closely correlated with population
growth and real disposable income per household than with
other readily available series. The price of houses in relation
to prices generally and the extent to which starts had exceeded household formation
in the preceding decade were
also significant influences.1
These variables combined into a conventional single
regression equation appear to move in the same general
direction as starts in most years, but the extent of the movement is only roughly approximate. Furthermore, the apparent cycle effect in starts is so large from the peak to the trough
during the prewar period, that extrapolations to the postwar
years when the principal demand factors are considerably
higher than at any time before the war is not appropriate.
Influence of income
Although it cannot be measured in any precise way, it is
apparent that the influence of the substantial general rise in
income per spending unit or per household from the prewar
to the postwar period—accompanied by an increase in the
number of households—has been a basic factor in the strong
postwar housing market. These changes have brought
sharp declines in the number of spending units in the lower
and lower-middle income groups and large rises in numbers
in the upper-middle and higher income groups even after
rough adjustments are made for changes in prices. The
general picture of income distribution from the war period
to the present is available from estimates of the Office of
Business Economics.2
Although these data cannot be directly related to the purchase of houses, information from the Federal Reserve Board
surveys of consumer spending and financing are suggestive.
The Consumer Finance Survey has found that purchasers
of new and used houses are more concentrated in the upper
income brackets than are home owners as a group. This
appears to reflect somewhat greater mobility for higher
income families as well as a tendency to time purchases of
houses in periods when income is high.
House purchasing was particularly concentrated in the
upper income groups during the years 1952 and 1953. In
these years, spending units in the upper third of the income
distribution bought about 60 percent of the houses purchased,
the middle third bought about 25 percent, and the lower
third about 15 percent. The proportion of families owning
homes was about twice as high in the upper third of the income
distribution as in the lower third. The high proportion of
families buying houses in the upper income groups in these
years appears to reflect the influence of credit restrictions
which resulted in the least liberal credit terms of the entire
period since the end of World Wai" II. For earlier years,
1947-51, those buying homes were more broadly distributed
throughout the income range, but they were not so broadly
distributed as home ownership.
Equity of individuals
Large liquid asset holdings have also had a favorable
influence upon the demand for housing since the end of
World War II. Throughout this period the liquid asset
1. For this period, no series which reflects the influence of financing terms is readily
available.
2. Income Distribution in the United States, by Selma F. Goldsmith, SURVEY OF CURRENT
BUSINESS, March 1955, and a Supplement to the SURVEY OF CURRENT BUSINESS 1953, Office
of Business Economics, U. S. Department of Commerce, U. S. Government Printing Office
SURVEY OF CURRENT BUSINESS
Mav 1055
position of individuals as a group has been more favorable
than for any year before the war for which data are available, though there has been some decline in liquidity from
the war years.
The volume of holdings of currency, bank deposits, and
government securities as estimated by the Securities Exchange Commission at the end of 1954 was about equal to
disposable income in that year. This compares with a ratio
of liquid assets to disposable income of about one and
one-fourth in 1946 and four-fifths in 1940. Though liquid
asset holdings are fairly broadly distributed by income
level, according to the Federal Reserve Board Survey of
Consumer Finances, such holdings other than currency tend
to be concentrated into a rather small proportion of total
consuming units. The top fifth of the liquid asset holders
have about 80 percent of the value of liquid assets, and the
top two-fifths hold about 95 percent.
Housing Starts and
Changes in Households
MILLIONS
2.0
ANNUAL CHANGE IN NON"
FARM HOUSEHOLDS *
13-YEAR MOVING AVERAGE)
J.5
NONFARM HOUSING
STARTS (B.LS.)
1.0
17
following extended advances in earlier years. A similar
trend prevails for existing houses purchased with *HA~
insured loans.
Mortgage Financing
The role of financing in the demand for housing is of basic
importance. A very large proportion of funds invested are
borrowed, particularly for the purchase of lower-priced
houses. There is a considerable range in downpayment requirements and amortization periods for various types of
financing at any given time. Variations in the terms of
such loans, in the availability of the various types, in the
interest rate, and in the related special fees or charges lor
loans made are important influences affecting the sale of
houses.
. 1 1
The influence of financing has been particularly marked
since the end of World War II as other demand influences
have for the most part changed only moderately, whereas
substantial and sometimes rather abrupt changes have
occurred in financing terms. Thus incomes have been high
and rising during most of the period, and housing needs of
a growing population have continued large, although not so
pressing as in the immediate postwar years.
In this generally strong demand situation, changes in credit
terms and in the availability of credit for mortgage lending have
been important influences." Relaxation in credit terms in 1949
and early 1950, and again during 1954 coincided with expansion in new house construction and sale. These two periods
of credit ease were preceded by liberalization in lending regulations, and in both instances by a slackening in the demand
for funds by business. In addition, the Government pursued
an active credit-ease policy during each of these periods.
An increase in unemployment and a leveling off in prices
generally made resources readily available for activating the
generally strong demand situation for new houses. Relative
stability in construction costs and in the price of new houses
prevailed in each of these two periods of expanding construction.
FHA Financing
.5
i i t i i 1 l i
1920
1925
1930
1935
1940
1945
1950
1955
"* Changes were derived from data published by the Joint Committees on
Housing and on the Economic Report
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
55-25-10
The only specific information relating asset holdings to
house purchasers is a recent sample survey of VA-guaranteed
mortgage holders. This survey indicated that those obtaining downpayment loans had liquid assets holdings substantially larger on the average than the required downpayment, but no information is available on the distribution
of such assets among the various buyers. For purchasers
obtaining no-downpayment loans, however, liquid asset
holdings were relatively small.
Holdings of nonliquid assets or equity of individuals are
also an important influence affecting the demand for housing.
Much of such equity is in houses, and the purchase of a house
often involves the sale of another. Accordingly, the strong
trend in the price of used houses in most of the postwar
period has been an important—though not necessaruly an
independent—influence affecting the sale and hence the construction of new houses. As indicated in the chart on page
19, the average price of used houses purchased with VAguaranteed loans has advanced slightly in the past two years
3
341309°—55
A brief review of real estate credit developments in 1949
and early 1950 suggests the importance of credit relaxation
in expanding the market for houses in the period before
June 1950. Provisions regulating FHA insured mortgages
for single family homes and for the construction of rental
projects were liberalized in mid-1948. The maximum amount
that could be insured and the maximum ranges for 80 percent
and 90 percent mortgages were increased, partly to cover
higher costs of construction. Mortgages up to 95 percent of
the value of the property were provided for owner-occupied
homes in the lower price brackets. Maturities were also
lengthened. The Housing Act of 1948 had as a chief purpose
stimulation of housing in the lower price and rental ranges.
The changes in the law contributed to a substantial easing
in the mortgage market, and an enlarged flow of credit both
with and without Federal support became available on easy
terms.
The ratio of loans to value of property insured by FHA under Section 203 for new single-family houses increased in 1949,
and the number of units started under FHA inspection rose
from 294,000 in 1948 to 364,000 in 1949 and 487,000 in 1950.
During this period the combination FHA first trust and VA
second trust loans, characterized by low downpayments,
were widely used. Of the VA first mortgage loans (Section
501) the proportion with no downpayment required rose
from 24 percent in 1948 to 34 percent in 1949 and 44 percent in 1950. In April 1950, the legal maximum interest
rate for FHA insured mortgages was lowered from 4K percent to 4% percent as a part of the general relaxation in
mortgage credit terms.
SURVEY OF CURRENT BUSINESS
18
In July 1950 specific mortgage credit regulations were
adopted to restrain the housing market, but there is a considerable lag between changes in regulations affecting applications for loans and the effects upon the sale of houses.
Despite progressive tightening in terms for mortgage lending in the latter part of 1950, including the reimposition of
Regulation X by the Federal Reserve Board, the tightening
in credit was little felt during the latter half of 1950 and
was only partially effective in 1951. As shown in the accompanying chart, credit regulations were more fully effective in 1952. Regulation X was relaxed in June 1952 and
suspended in April 1953, but there was some lag before any
substantial relaxation in loan requirements was observable.
No-Downpayment VA Loans
as a percent of total VA-guaranteed
primary home loans
May 1955
Both the proportion of the total price of the house represented
by the primary loan and the amortization period were subtantially less, however, than for Government insured and
guaranteed loans.
Easier terms for VA loans
For VA mortgage lending, a progressive easing in terms
during 1953 and 1954 is reflected in the chart showing the
proportion of 100 percent loans by VA and the proportion
with maturities over 25 years. Though VA loans are not
representative of home financing generally, they are an important part of the total and are the group for which expansion was most marked in 1954 and early 1955. Furthermore, some of the influences which led to liberalization of
terms on such loans affected other types of lending as well.
The low point in the proportion of no-downpayment loans
guaranteed by VA was reached in the third quarter of 1952,
after which the proportion of such loans rose continuously
through the first quarter of 1955. There was only a slow
rise in such loans through 1953 with the no-downpayment
loans reaching 11 percent of total VA loans closed in the
final quarter of that year. The rise was accelerated in 1954,
however, with an advance from 15 percent in the first
quarter to 37 percent in the last quarter and some further
rise in earlv 1955.
Distribution of VA-Guaranteed Home
Loans, by Years of Maturity
Longer maturities have become more common
20 -
THOUSANDS
1947
48
49
50
51
YEARS
52
53
54
55
QUARTERS
DATA: V A
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
55 - 2 5 - 1 1
For the group of borrowers financing their purchases with
FHA insured loans, detailed records of financing terms in
relation to income indicate that liberalization of credit
terms developed only gradually after the suspension of
Regulation X. For lower-priced houses, the proportion of
loan to sale price was higher than for middle- and upper-priced
houses, as provided in legal requirements concerning maximum loans. Even in lower-priced housing, however, downpayment requirements as late as 1954 were still substantial
(averaging around 10 percent), and the ratio of current
monthly housing costs to income was no higher than the 15
percent average for all single-family homes insured by FHA.
Though these data include the latter half of 1954, when the
maximum percentage of the property value which could be
borrowed was increased, most of the loans made were based
upon applications made prior to the relaxation in lending
terms. Accordingly, the effects of the relaxation in terms
are not evident in these figures and subsequent data are
not available.
Limited information on current mortgage lending other
than Government insured or guaranteed loans indicates that
the general easing in credit in 1954 and the reduction in
demand for funds for other purposes made loans more
readily available on generally improved terms for borrowers.
20
-
1947
52
48
MONTHLY AVERAGE
FOR YEAR
53
54
55
MONTHLY AVERAGE
FOR QUARTER
D A T A : VA
U. S. DEPARTMENT Of COMMERCE, OFFICE OF BUSINESS ECONOMICS
55-25-12
The same general pattern of easing characterized the
maturities of loans closed, except that the increase in maturities was rather gradual through the second quarter of 1954.
Up to that point, a noticeable shifting from lower maturity
loans to 25-year maturities was evident, with the latter
becoming more common than all the loans for maturities less
than 25 years whereas it had been less common in earlier
Mav 1955
SURVEY OF CURRENT BUSINESS
quarters. Loans with maturities over 25 years—chiefly
30-year loans—had risen to nearly one-fifth of the total by
the second quarter of 1954. These moderate increases in
maturities were accompanied by no expansion in total VA
home loans closed, but VA requests for appraisals for new
home construction rose to double the rate a year earlier,
presaging the substantial rise in VA loans in the second half
of 1954.
Only after mid-1954 did the easing in credit terms affect
a substantial portion of buyers. In the latter half of 1954,
out of about 250,000 primary loans guaranteed by the VA,
approximately 75,000 had maturities over 25 years—about 3
times as many as in the first half of the year. A similar
easing in downpayment requirements brought the total of
VA loans for the full purchase price to 86,000 in the latter
half of 1954, or nearly three times as many as in the first
half. As shown in the accompanying chart, easing in mortgage terms continued throughout 1954, and in the early
months of 1955. In January and February out of a total of
about 110,000 primary loans closed, 40 percent were for the
full purchase price and a similar proportion was for more
than 25 years maturity.
The total number of houses financed through VA whose
owners at the present time have little or no equity in their
homes is quite a minute fraction of all mortgages outstanding,
but in terms of current mortgage recordings and purchases of
houses, the proportion with very liberal credit terms is a
substantial share of the entire market. Those buying
houses as early as 1950 have seen a considerable appreciation
in building costs and prices since they bought and have
obtained some increase in equity in the intervening years.
For the next 2 years, 1952-53, mortgage terms were not
particularly favorable. Some downpayment was required—
about 15 percent was typical for FHA borrowers, between 10
and 15 percent for VA loans, and considerably more for conventional borrowers. Thus, in general, the borrowers for
the years preceding 1954 have an appreciable equity in their
homes.
In the absence of a considerable decline in the price of
bouses, the total equity position of such buyers as a group
lias been enhanced by the purchase of a house, though they
may have had a large rise in debt.
The effect of easier credit terms upon the buyer of a singlefamily house may be indicated by specific illustrations. For
homes insured by FHA, the minimum downpayment requirements for a $15,000 house were reduced from about $3,000
to $2,000 in mid-1954. The maximum period of amortization
was lengthened from 25 years to 30 years, a change that
reduces monthly repayment charges on any given loan a
little less than 10 percent. Thus, while the loan would be
larger with the reduced downpayment, if in addition the
amortization period were lengthened from 25 years to 30
years, there would be little change in monthly payments.
For homes financed under loans guaranteed by VA,
monthly operating statistics indicate average changes in
downpayments. In the first quarter of 1955, the average
purchase price for new homes financed by VA primary loans
was about $12,100, an increase of $300 from a year earlier.
The average downpayment for these homes was $640 in the
first quarter of 1955, a little more than half as much as a
year earlier. Though no exact comparisons are available on
the change in maturities for loans, in the apparently typical
instance in which maturity was increased by 5 years (see
accompanying chart), a slightly smaller monthly payment
was required in the first quarter of 1955 than a year earlier.
About twice as many VA loans were closed on new houses
in the first qurter of 1955 as were closed a year earlier.
A rather important part of the general housing picture is
the sustained demand for existing homes. As shown in the
accompanying chart the average price paid for existing houses
19
Average downpayment on VA-guaranteed
loans has declined for new homes . . .
THOUSANDS OF DOLLARS
15
AVERAGE PURCHASE PRICE
\
10
iAVERAGE LOAN AMOUNT
and for existing homes
15
AVERAGE PURCHASE PRICE
\
10
iAVERAGE LOAN AMOUNT;
OCT.
1947
1949
50
51
52
53
54
55
MONTHLY AVERAGE FOR QUARTER
DATA: VA
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
5 5 - 2 5 - 13
financed with VA guaranteed loans has been fairly stable
during the past 2 years. There has been some decline in
the size of downpayments for existing houses purchased with
VA loans but downpayments average appreciably higher than
those made for new homes.
Requests for yA appraisals for proposed home construction
have been running about double a year earlier and applications for FHA commitments are moderatley higher than in
the corresponding months of 1954.
Summary
The current strong demand for housing is based upon the
joint influence of basic physical and economic factors. The
effect on demand of a lower rate of family formation than
that prevailing earlier in the postwar period has been offset
by continued rapid increase in the population with resulting pressure for larger living quarters, and by substantial
internal migration. Credit conditions appear to have been
especially important in the rise of residential construction
in the past year. Purchasing terms continue to be
favorable and mortgage funds are in good supply despite
some firming in the money market. A large and rising flow
of income has been the central influence supporting the high
volume of residential activity, permitting the influence of
other factors to be widely operative.
SURVEY OF CURRENT BUSINESS
20
Mav 1055
National Income and Product—A Review of the First Quarter
(Continued from. p. 5)
billion in the fourth quarter after having fluctuated around
$34-35 billion earlier in the year. Before-tax profits, without
adjustment for inventory valuation, reflected a similar
improvement, as did profits after taxes. The estimates shown
for 1954 have not yet been revised to incorporate the tax
saving under legislation enacted during the year, the effect
of which cannot be satisfactorily measured at this time.
Before-tax profits unadjusted for seasonal variation
totaled over $9 billion in the fourth quarter, up from about
$8)2 billion in the third quarter and less than $8 billion in the
final quarter of 1953. The chief single factor in the year-end
advance seems to have been the sharp expansion of auto
/ lew or
output after the changeover to the 1955 models. This was
accompanied by increased profits not only in the auto
industry itself but also in the metals and metal products
group and in rubber, and the acceleration of industrial
activity contributed to the substantial improvement reported
for railroad transportation.
In most other manufacturing and nonmanufacturing
industries, the available data suggest that a similar though
generally more limited improvement took place.
Early reports for the first quarter of 1955 indicate a continuation of the overall pattern of upward movement in
profits established in the final quarter of 1954, with the auto,
steel and related industries leading a broad advance.
STATISTICAL SERIES
Manufacturers' Sales and Inventories
JL HE present revision of the Office of Business Economies'
series on manufacturing operations reflects the usual periodic
changes made as a result of taking into account newly
available data, plus the incorporation of a few special adjustments described below. The revisions involve in the main
the adjustment of the estimates to 2 basic sources of information that have become available in the 18 months since the
last revision. The first set of data consists of the compilations by the Internal Revenue Service of sales and inventories
as reported in corporate income tax returns for the years
1951 and 1952; after minor adjustments, these tabulations
provide the "benchmark" estimates for those years.
The second set of data consists of published annual
reports for 1953 and 1954 of a large number of companies
which significantly augment the returns of the panel of
manufacturers cooperating in the monthly Industry Survey.
This revision goes back to January 1951—the already
published estimates prior to this date are not affected. The
Table I.—Manufacturers' Sales and Inventories Annually 1939-54
[Millions of dollars; not adjusted for seasonal variation]
Sales
Year
Inventories
Nondurable Total man- Durable Nondurable
Total man- Durable
goods
goods
goods
goods
ufacturing industries
industries ufacturing industries industries
1939
1940
1941
1942...
1943
61, 340
70 313
98, 069
125, 158
153 843
23, 397
29 679
45, 619
61, 969
82 352
1944
1945
1946
1947
1948
165 387
154 481
151 402
191 009
211, 560
88 041
75 219
59 834
80* 343
91, 133
1949.
1950
1951
1952
1953 „
196, 997
231, 415
267 705
274 197
84. 834
105, 649
124 504
131 215
298, 423
149,578
1954
280 755
133 585
37, 943
40 634
52, 450
63, 189
71 491
11, 516
12 873
17, 024
19, 348
20 171
5, 332
6 303
8,598
10, 437
11 171
6, 184
6 570
8, 426
8,911
9 000
346
262
568
666
427
19 578
18 457
24 620
29' 032
31 781
10 430
8 764
11 950
14 267
15 725
9 148
9 693
12 670
14 765
16 056
112, 163
125, 766
1439 201
14 982
13 956
16,768
22 815
94 42S
26, 352
15 082
17, 766
20 196
19 601
148, 845
29 038
34, 534
43 Oil
44 029
46, 175
147 170
43 511
24 047
1Q 464
77
79
91
110
120
Source: U. S. Department of Commerce, Office of Business Economics.
19, 823
accompanying tables show the new estimates of sales and
inventories by industries; the June issue of the Survey will
carry the revised material on new and unfilled orders and on
inventories by the various stages of fabrication. Revisions
of the series on retail and wholesale trade will not be made
until after examination of the material now being processed
in the 1954 Census of Business.
Other adjustments
Several other changes have been made in the new estimates.
The book values of inventories held by aircraft companies
have been adjusted when necessary to include the amount
covered by progress payments on contracts. This adjustment raised the level of inventories as reported in the
Internal Revenue Statistics of Income by about $400 million
and $500 million, respectively, in 1951 and 1952. Th
amounts are considerably less significant in postwar years
prior to 1951 and in industries other than aircraft—and no
allowance has been made.
No other changes in concept or methodology have been
made except that there have been several consolidations of
industries previously shown separately. For previous descriptions of the statistical procedures used in deriving these
estimates see the SURVEY OF CURRENT BUSINESS, December
1953 and the October issues 1949 through 1952.
The seasonal factors for sales and inventories have been
reviewed and, when indicated, alterations in the factors
starting in January 1951 have been made.
The amount of revision
The effect of the current revision on the level and trends
of aggregate manufacturers' sales and inventories is not too
significant—although changes in a few industries are sizable.
As compared to the formerly published statistics, the new
estimates of total sales and inventories are virtually unchanged in 1951 and revised downward by 1 percent in 1952.
Year-end inventories in 1953 and 1954 are also reduced by
about 1 percent, while sales in each of these }^ears have been
lowered by 2 percent.
SURVEY OF CURRENT BUSINESS
May 1955
21
Table 2.—Manufacturers' Sales, 1948-54
[Millions of dollars; not adjusted for seasonal variation]
Nondurable goods industries
Durable goods industries
Year and month
Tntol
manufacturing
1948- Jan
16, 894
16, 670
18, 226
17, 267
16, 727
June
17, 660
Julv
16, 292
Aug
18, 357
Sept
18, 865
Oct
18, 855
Nov
17, 928
Dec
17,819
Total
211,560
1949- Jan
16, 556
Feb
16, 322
Mar
17, 993
Apr
16,424
15, 867
May
June
16, 349
14,529
Julv
Aug
17, 277
Sept
17, 516
16, 603
Oct
Nov
15, 975
Dec
15, 586
Total
196, 997
1950: Jan
15, 782
Feb
15, 987
Mai18, 203
Apr
16, 932
May
18, 492
June
19, 177
July
18, 513
Aug
22, 463
Sept
21, 252
Oct
22, 464
Nov
20,792
Dec
21, 358
Total
231,415
22, 522
1951: Jan
Feb
21, 608
Mar
24, 038
Apr
22, 124
22, 868
Mav
June 22, 085
20, 008
July
22, 752
Aug
Sept
21, 829
24, 331
Oct
Nov
22, 435
21, 105
Dec
Total
267, 705
1952: Jan
21, 955
Feb
22, 163
Mar
22, 918
Apr
22, 721
May
22, 245
21, 459
June
19, 888
July
Aug
22, 285
Sept
24, 457
Oct
26, 438
Nov ^_ .
23, 360
24, 308
Dec
Total
274, 197
1953: Jan
23, 787
Feb
23, 942
Mar
26, 486
Apr
25, 924
May
25, 043
June
25, 661
24, 515
July
Aug
24, 873
Sept
_ . 25, 672
Oct
26, 238
Nov
23,115
23, 167
Dec
Total
298, 423
1954: Jan
22, 598
Fob. ...
22, 718
Mar
25, 033
Apr
24, 039
May
22, 666
June
23, 644
July
21, 728
Aug
23, 164
Sept
23, 672
Oct
23, 638
Nov
23, 691
24, 164
Dec..
Total
280, 755
Feb
Mar
\pr
May
For footnotes see table
Fabricated
metal
Primary
metal
Total
6,922
7,054
7,998
7, 415
7,130
7,701
6, 868
7,702
8,131
8,252
7,831
8,129
91, 133
7,212
7,151
8,016
7,352
6, 927
7, 325
6, 187
7,370
7, 510
6, 613
6,575
6,596
84, 834
6, 787
6, 858
8,102
7,715
8,602
9,181
8,242
10, 184
9, 786
10, 509
9, 600
10, 083
105, 649
10, 082
9, 819
11,536
10, 656
10, 907
10, 618
8, 995
10, 367
9, 860
11,324
10, 452
9,888
124, 504
10, 136
10, 484
11,031
11,040
10, 890
10, 173
8, 699
10, 345
11, 780
12, 750
11, 594
12, 293
131, 215
11, 753
12, 147
13, 557
13, 427
12, 863
13,313
12, 232
12, 266
12, 690
12, 888
11, 180
11, 262
149, 578
10, 758
10, 924
12, 202
11,645
10, 993
11,705
10, 191
10, 701
10, 952
10, 689
11,088
11,737
133, 585
S
1
11
!
1
!
:
!
1
!
1,303
1,249
1, 455
1,329
1,336
1,405
1, 245
1,453
1,508
1, 624
1,554
1,692
17, 153
1,554
1,480
1,605
1,345
1,226
1,241
1,003
1,207
1,277
588
922
1,295
14, 743
1,299
1,273
1,420
1,412
1,574
1,625
1,440
1,716
1,702
1,841
1,761
1,983
19, 046
1,951
1,734
2,050
1,935
2,036
2,012
1,700
1,938
1,813
2,034
1,943
1, 941
23, 087
1,864
1,829
1,942
1,773
1.748
892
813
1,755
1,933
2,110
1,933
2, 133
20, 725
2,016
1,962
2,191
2,157
2,158
2, 138
1, 933
2, 036
1, 954
2, 005
1,783
1,710
24, 043
1,708
1, 592
1, 734
1, 668
1, 639
1, 722
1, 421
1, 529
1, 614
1,646
1, 683
1, 793
19, 749
!
i
i
•
i
806
796
879
844
797
838
752
924
961
903
839
861
10, 200
748
726
816
720
704
781
686
858
870
828
735
688
9,160
709
751
869
807
918
995
922
1,236
1,133
1,225
1,061
1,084
11,710
1,104
1,107
1,228
1,146
1,146
1,121
1,019
1,159
1, 142
1,314
1,144
1, 025
13, 655
1,094
1,049
1,111
1,107
1,094
1,082
1,037
1, 156
1, 250
1,374
1, 095
1, 176
13, 625
1,139
1, 175
1,318
1, 309
1,247
1,328
1,286
1, 366
1,387
1,327
1, 115
1, 007
15, 004
1, 099
1,079
1, 205
1, 190
1, 133
1,222
1, 109
1, 240
1, 223
1, 216
1, 103
1, 043
13,862
TransStone,
Ma- portation Lumber
and
clay and Other 3
chinery1 equip-2 furniture
glass
ment
1,871
1,970
2,194
2,090
1,974
2, 133
1,828
1,971
2,139
2,140
2,041
2,267
24, 618
1,862
1,900
2,154
1,995
1,922
1,924
1,539
1,788
1,889
1,850
1,748
1,798
22, 369
1,709
1,809
2, 202
2, 039
2,150
2,255
2, 062
2,506
2, 465
2,681
2,448
2,788
27, 114
2,626
2, 686
3,138
2, 859
2,858
2,860
2. 380
2,739
2,694
3,143
2, 959
3,047
33, 989
2,930
3,124
3,283
3,224
3, 150
3,282
2,795
2, 962
3,288
3, 507
3,229
3, 628
38, 402
3, 245
3,479
3, 834
3, 740
3, 541
3, 762
3, 159
3, 256
3, 583
3,480
3, 142
3, 359
41, 580
3, 038
3,227
3, 625
3, 342
3, 085
3, 319
2 772
2! 884
3, 138
3, 065
2, 993
3, 287
37, 775
1, 269
1, 341
1,544
1,357
1, 294
1,471
1,382
1, 455
1,550
1,606
1, 552
1,654
17,475
1,488
1,547
1,694
1,677
1,490
1,688
1,580
1,746
1, 643
1, 512
1,364
1,288
18,717
1,538
1, 420
1,638
1,589
1,932
2,217
1,896
2,253
2,055
2,178
1,910
2,025
22, 651
1,970
2,009
2, 452
2,226
2,299
2,233
1,891
2,118
1,998
2,241
2,155
2,014
25, 606
2,111
2,246
2,407
2,520
2,522
2,577
1,822
1,984
2, 651
2,876
2, 886
2,980
29, 582
3, 002
3, 140
3,471
3,546
3, 323
3, 425
3,330
2,989
2,987
3, 241
2, 673
2, 831
37, 958
2,702
2, 761
2, 989
2,979
2, 756
2, 863
2, 575
2, 459
2, 205
2, 053
2,728
3, 213
32, 283
787
754
865
800
757
814
723
827
849
835
752
660
9,423
654
635
750
681
661
673
552
723
775
761
758
691
8,314
701
744
906
846
917
938
827
1,098
1,040
1,111
1, 032
921
11,081
1,092
985
1,163
1,080
1,089
1,002
779
996
908
1,062
924
745
11,825
892
951
957
1,032
993
973
900
1,041
1,109
1,176
969
1,019
12,012
978
970
1,100
1,099
1, 036
1,060
994
1,080
1,100
1,070
930
940
12, 357
869
892
1,043
962
887
976
839
1, 002
1,091
1,000
987
955
11,503
309
289
381
382
362
381
371
402
412
430
389
365
4,473
315
308
369
378
363
392
341
407
389
389
383
334
4,368
339
331
410
412
462
489
447
543
521
577
525
475
5,531
482
445
568
549
578
563
517
575
524
609
508
416
6, 334
455
462
488
519
507
509
498
550
568
625
511
489
6,181
477
486
590
577
574
605
578
589
626
641
534
477
6, 754
440
481
564
561
573
622
576
625
652
640
594
530
6,858
577
655
680
613
610
659
567
670
712
714
704
630
7,791
591
555
628
556
561
626
486
641
667
685
665
502
7,163
492
530
657
610
649
662
648
832
870
896
863
807
8,516
857
853
937
861
901
827
709
842
781
921
819
700
10, 008
790
823
843
865
876
858
834
897
981
1,082
971
868
10, 688
896
935
1, 053
999
984
995
952
950
1, 053
1,124
1, 003
938
11,882
902
892
1, 042
943
920
981
899
962
1,029
1, 069
1, 000
916
11,555
Source: U. S. Department of Commerce, Office of Business Economics.
Total
9,972
9,616
10, 228
9, 852
9,597
9,959
9,424
10, 655
10, 734
10, 603
10, 097
9,690
120, 427
9, 341
9, 171
9,977
9,072
8,940
9,024
8,342
9,907
10, 006
9,990
9,400
8,990
112, 163
8,995
9,129
10, 101
9,217
9, 890
9,996
10, 271
12, 279
11,466
11,955
11,192
11, 275
125, 766
12, 440
11,789
12, 502
11, 468
11,961
11,467
11,013
12, 385
11, 969
13, 007
11, 983
11,217
143, 201
11,819
11, 679
11,887
11, 681
11,355
11, 286
11, 189
11, 940
12, 677
13, 688
11,766
12, 015
142, 982
12. 034
11,795
12, 929
12, 497
12, 180
12, 348
12, 283
12, 607
12, 982
13, 350
11,935
11,905
148, 845
11, 840
11,794
12, 831
12, 394
11,673
11,939
11,537
12, 463 '<
12, 720
12, 949
12, 603
12, 427
147, 170
Food
and
Tobacco Textile
beverage
Paper
1,082
1,116
1,197
1,111
1, 053
1, 123
882
1,086
1, 106
1,088
1,046
951
12,841
912
915
984
812
781
871
694
980
1,074
1, 073
1,024
939
11,059
975
957
1,030
884
926
1,050
990
1,434
1,300
1,392
1,281
1,251
13,470
1,390
1,334
1,376
1,199
1,246
1,244
988
1,272
1,184
1,305
1,150
1,112
14, 800
1, 162
1,112
1,121
1,061
970
1,054
970
1,148
1,246
1,403
1,161
1, 149
13, 557
1,127
1, 069
1, 157
1,161
1,080
1,121
1,043
1,142
1, 158
1, 195
989
928
13, 170
910
964
1,072
952
874
1,024
861
1,058
1, 169
1,131
1,122
1,077
12,214
504
489
532
516
500
520
456
519
521
532
498
473
6,060
459
434
478
439
424
434
374
463
491
508
499
465
5,468
501
495
567
518
554
562
517
645
616
673
670
658
6,976
711
683
771
740
771
729
624
722
667
734
682
605
8,439
694
655
674
649
642
622
591
659
665
730
649
647
7,877
711
672
732
728
711
722
679
728
728
766
697
668
8,542
706
671
771
738
707
733
680
751
736
764
733
712
8,702
3,382
3,145
3,144
3,108
3,148
3,287
3,293
3,546
3,645
3,618
3,399
3, 252
39, 967
3,193
3,097
3,241
3,033
3,128
3, 208
3, 004
3, 322
3,331
3,369
3, 159
2,964
38, 049
2,897
2,939
3,188
2,948
3,320
3, 374
3,512
3, 876
3,633
3,705
3,433
3, 625
40, 450
4,116
3,775
3,828
3,455
3, 856
3,684
3, 595
3,844
3,949
4,262
3, 970
3,733
46, 076
3,802
3, 753
3,740
3,655
3,842
3,834
3, 852
3,845
4,147
4,493
3,858
3,873
46, 694
3,864
3,722
4,066
3, 893
3,960
4,046
4, 163
4,110
4,339
4, 455
3,977
3, 952
48, 547
4,045
3,920
4, 135
4,189
4,069
4,045
4,041
4, 092
4, 145
4,234
4, 068
3, 975
48, 958
225
217
249
248
246
271
267
288
265
254
276
262
3,068
244
231
266
248
283
279
268
300
277
260
270
252
3,178
252
230
258
234
285
290
296
314
266
288
285
272
3,270
280
257
263
265
307
293
295
317
273
343
289
279
3,461
300
273
286
296
322
329
339
334
332
334
309
336
3,790
289
300
318
301
313
343
350
330
335
314
328
325
3,846
264
267
317
296
308
330
319
338
330
285
315
317
3,686
Chem- Petroleum
Rubber Other 4
ical
and coal
1, 199
1, 139
1,231
1,253
1,176
1,213
1,107
1, 246
1, 255
1, 239
1,171
1,137
14, 366
1, 165
1,096
1,178
1,117
1,090
1,092
980
1,157
1,188
1, 151
1, 088
1, 015
13,317
1, 166
1,125
1,317
,235
,314
,316
,294
,584
1,537
1,586
1,481
1, 473
16, 428
1,638
1,508
1, 698
1,607
1,609
1, 513
1,416
1, 546
1,483
1, 587
1,463
1,357
18, 425
1,520
1,477
1,536
1, 544
1,482
1,414
1, 400
1,490
1, 620
1, 696
1, 461
1, 452
18, 092
1, 618
1,549
1,748
1,728
1, 658
1,623
1,566
1, 579
1, 648
1, 661
1, 485
1,441
19, 304
1,564
1, 514
1,723
1,702
1, 602
1, 610
1,493
1, 626
1,717
1,707
1, 677
1, 621
19, 556
1,607
1, 515
1, 625
1, 552
1,577
1, 602
1, 639
1, 664
1,592
1, 659
1, 630
1,828
19,490
1,537
1,409
1, 531
1,433
1,423
1,406
1,413
1,497
1,436
1,462
1,499
1,580
17, 626
1,435
1,365
1,523
1,450
1, 540
1,560
1,647
1,768
1, 681
1,745
1,738
1,903
19,355
1,943
1,805
1,958
1,855
1,923
1,884
1,921
2,034
1, 916
2,114
2,075
2,138
23, 566
2,029
1, 967
1,999
1,973
1,829
1,896
1,946
1,977
1,981
2, 151
1, 995
2, 251
23, 994
2,130
2, 008
2,137
2,104
2, 052
2,213
2,241
2, 163
2,194
2,211
2,132
2,334
25, 919
2,228
2,064
2,232
2,108
2,062
2,128
2, 103
2,122
2,101
2,140
2,218
2, 470
25, 976
251
236
263
278
271
303
299
310
294
305
269
273
3,352
243
226
256
252
249
272
249
280
261
275
238
249
3,050
237
236
276
272
308
343
399
416
364
408
360
401
4, 020
412
379
439
418
419
429
389
427
394
450
398
345
4,899
430
391
394
421
417
431
367
409
428
463
361
403
4,915
443
420
461
456
439
464
442
437
410
437
331
357
5,097
368
342
386
394
374
404
377
363
343
374
372
400
4, 497
1, 722
1,759
1,987
1,786
1,626
1,640
1,481
1,996
2, 056
1,908
1, 808
1,514
21, 283
1, 591
1, 763
2, 043
1, 738
1, 562
1, 462
1,360
1,908
1,948
1,892
1,623
1,526
20, 416
1,532
1,782
1,942
1,676
1,643
1,501
1,616
2,242
2, 069
2, 158
1,944
1, 692
21, 797
1, 950
2,048
2, 169
1,929
1,830
1,691
1,785
2,223
2, 103
2,212
1, 947
1,648
23, 535
1,882
2,051
2, 137
2, 082
1, 851
1, 706
1,724
2, 078
2, 258
2,418
1,972
1,904
24, 063
1,852
2,055
2,310
2, 126
1, 967
1,816
1,799
2,118
2,170
2,311
1, 996
1, 900
24, 420
1, 755
2, 052
2,195
2,015
1,677
1, 665
1, 663
2, 113
2, 179
2,314
2, 098
1, 855
23, 581
SURVEY OF CURRENT BUSINESS
22
May 1955
Table 3.—Manufacturers' Sales, 1948-54
[Millions of dollars; adjusted for seasonal variation]
Durable goods industries
Year and month
1948* Jan
Feb
Mar _.
Apr
._
May .... _ _
June
July
Aug
Sept.. . „
Get
Nov
Dec .
1949: Jan
Feb
Mar
Apr
May
June
July
Aug
._
Sept
Oct
Nov
_ Dec
1950: Jan _
Feb
Mar
Apr
May..June
July
Aug
Sept
Oct .
Nov
Dec
1951: Jan
Feb
Mar
Apr
May
June
July
-.
Aug
-.
Sept
Oct
Nov
Dec
1952: Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct_
Nov
Dec
1953: Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
1954: Jan
Feb
Alar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
_ _
Total
manufacturing
17, 174
17, 399
1 7, 348
17, 626
17, 378
17, 691
17, 535
1 7, 869
18, 041
17. 798
17, 860
17, 754
16, 924
16,967
17, 046
16, 827
16,294
16, 339
15, 853
16, 641
1 6. 807
1 5, 657
15, 871
15, 624
16, 197
16, 447
17, 274
17, 400
18, 534
19, 081
20, 343
21, 684
20, 719
20, 986
20, 881
22, 076
22, 665
22, 196
22, 897
22, 293
22, 812
22, 226
21, 839
22, 211
21, 816
22, 448
22, 596
21, 739
22, 149
22, 388
22, 172
22, 556
22, 345
21, 717
21, 356
22, 314
23, 879
24, 428
24, 130
24, 461
24, 344
24, 708
25, 354
25, 454
25, 460
25, 332
25, 846
25, 015
24, 948
24, 597
23, 805
23, 401
23, 486
23, 475
23, 637
23, 681
23, 204
23, 349
23, 209
23, 113
23, 008
22, 489
23,964
24, 097
Total
7; 218
7,414
7,498
7,374
7,326
7,443
7, 518
7, 653
7,847
7,793
7,940
8,107
7,563
7,449
7,432
7, 306
7, 043
7, 064
6,889
7,2^9
7,309
6, 251
6, 649
6, 528
7.145
7,075
7. 564
7,726
8,445
8,893
9,221
10. 092
9,664
9,878
9, 736
10, 324
10. 346
10, 124
10, 762
10, 496
10, 628
10, 415
10, 078
10, 345
10, 071
10, 482
10, 659
10, 117
10, 430
10, 565
10, 486
10, 641
10, 678
10, 077
9,586
10, 622
11,711
11,838
12, 121
12, 256
12, 146
12, 511
12, 821
12, 841
12,856
12, 850
13, 246
12, 545
12, 547
12, 147
11, 719
11, 304
11,381
11,248
11, 303
11, 160
11,066
11, 293
11,153
10, 907
10, 832
10, 295
11,314
11, 570
Primary
metal
1, 293
1,312
1,373
1,350
1,336
1,398
1,396
1,428
1,483
1,522
1,586
1,670
1, 508
1,506
1,492
1,332
1,192
1,227
1 168
1,236
1, 320
560
951
1,231
1,260
1,314
1, 321
1,398
1,519
1,611
1,673
1,760
1,764
1,768
1,799
1,889
1,898
1,787
1,911
1,908
1,970
1,993
1,969
1,986
1, 882
1,953
1,981
1,859
1,815
1,883
1,810
1,747
1,692
877
954
1,799
2,004
2,026
1,972
2,043
1,961
2,008
2,054
2,113
2,124
2,106
2,230
2,088
2,014
1,947
1,805
1,639
1, 663
1,630
1,626
1,634
1,614
1,697
1,634
1,569
1,662
1,596
1,703
1,719
Fabricated
metal
882
879
858
922
842
805
834
805
854
818
853
877
812
799
796
786
744
750
760
749
774
748
746
701
754
794
849
834
938
995
1,014
1,144
1,064
1, 068
1, 096
1,119
1,150
1,165
1,204
1,181
1,194
1,132
1,132
1.093
1,057
1,133
1, 179
1,046
1,140
1,104
1,089
1,141
1. 140
1,093
1,152
1,091
1,157
1,184
1,129
1,200
1,186
1,237
1,280
1,309
1,313
1,315
1,398
1,301
1.308
1,164
1,138
1,060
1,145
1,136
1,170
1,190
1,193
1,210
1,205
1,181
1,154
1,067
1,126
1,098
Nondurable goods industries
TransStone,
Ma- portation Lumber
and
clay and Other 3
chinery1 equip- furniture
glass
ment 2
1.968
1,972
2,012
1,995
1,991
2,040
2, 058
2,070
2,141
2,064
2,131
2,183
1,968
1,902
1,974
1,911
,929
,843
,739
,861
,889
,781
,816
,736
,810
807
2,007
1,974
2,137
2,173
2,363
2, 613
2,490
2, 558
2,519
2,700
2,741
2,688
2,874
2,761
2,821
2,766
2,699
2,865
2,747
2,994
3,058
2,956
3,064
3,093
3,040
3,082
3,127
3,196
3,166
3,143
3,297
3,343
3,362
3,464
3,403
3,483
3,531
3,567
3,576
3,623
3,554
3,443
3,513
3,357
3,268
3,230
3,217
3,230
3,311
3,198
3,131
3,197
3,151
3,037
3,081
2,976
3,084
3,147
1,330
1,366
1, 430
1, 326
1, 336
1,382
1,407
1,504
1,526
1,575
1, 589
1,683
1,608
1,575
1 , 513
1,654
1,528
1, 584
1,661
1, 735
1, 616
1 , 482
1, 390
1,290
1,657
1, 432
1,518
1, 630
1, 883
2,079
2,009
2, 234
2. 046
2, 136
1, 946
2,156
2,039
2,064
2, 263
2,146
2, 167
2,121
2,028
2,112
2,151
2,134
2,261
2,139
2,195
2, 203
2,308
2,351
2,399
2,501
1,900
2,102
2,714
2,752
3,153
3,000
3,086
3,205
3,296
3,271
3,223
3,207
3,347
3,123
3.092
3,162
2,997
2,863
2,886
2,811
2,749
2,751
2,702
2,679
2,666
2,572
2,317
2,159
2,865
3,061
788
784
795
753
779
790
814
832
809
799
765
701
674
659
689
652
669
655
651
699
739
728
770
733
750
781
822
839
872
905
966
1,052
997
1, 055
1,043
1, 037
1,114
1,015
1,067
1,049
1,037
1,012
906
949
926
965
933
847
910
932
911,
956
964
1,003
1,000
1,052
1,056
1,069
1, 042
1,084
1,029
1, 021
1,038
1.027
1, 036
1.039
1,092
1,080
1,058
973
979
989
966
939
940
899
896
948
932
992
1,049
952
997
985
1. Include electrical machinery.
2. Include motor vehicles.
3. Include ordnance, professional and scientific instruments and miscellaneous.
342
347
369
354
381
360
376
376
390
399
389
371
356
370
358
359
373
370
361
365
367
360
384
346
386
388
405
420
442
456
477
489
494
511
517
549
530
517
551
554
556
547
538
523
519
516
503
484
500
519
493
499
497
504
498
529
531
539
538
532
548
552
590
555
580
565
590
550
569
567
539
536
524
553
542
545
591
581
588
584
598
582
577
596
615
754
661
674
661
668
633
638
644
616
627
622
637
638
610
612
608
635
549
604
604
592
592
491
528
559
642
631
654
674
719
800
809
782
816
874
874
888
892
897
883
844
806
817
789
787
744
786
806
831
835
865
859
903
916
906
952
925
925
933
933
1,005
1,032
999
1,004
995
1,035
960
993
977
993
987
980
949
965
943
939
981
977
972
971
963
962
964
Total
9,956
9,985
9, 850
10. 252
10. 052
10, 248
10,017
10,216
10,194
10, 005
9,920
9,647
9, 361
9, 518
9,614
9, 521
9,251
9,275
8,964
9,392
9,498
9,406
9,222
9,096
9,052
9, 372
9,710
9, 674
10. 089
10, 188
11,122
11, 592
11,055
11,108
11,145
11, 752
12,319
12, 072
12, 135
11, 797
12, 184
11,811
11,761
11,866
11,745
11, 966
11,937
11,622
11,719
11,823
11,686
11,915
11,667
11,640
11,770
11, 692
12, 168
12, 590
12, 009
12, 205
12, 198
12, 197
12, 533
12, 613
12, 604
12, 482
12, 600
12, 470
12,401
12, 450
12, 086
12, 097
12, 105
12, 227
12, 334
12, 521
12, 138
12, 056
12, 056
12, 206
12, 176
12, 194
12, 650
12, 527
Food
and
Tobacco Textile Paper
beverage
3, 337
3, 312
3,171
3, 353
3, 234
3,339
3, 395
3, 387
3,439
3,371
3,301
3,259
3,158
3,253
3,277
3,300
3 207
3i 262
3,123
3,157
3,147
3,128
3,062
3,006
2, 930
3,081
3, 199
3,193
3, 304
3, 330
3, 600
3, 697
3,508
3, 455
3, 415
3, 733
4,140
3,938
3,834
3,667
3,834
3,688
3,682
3,756
3,858
3,928
3,925
3,834
3,813
3,887
3,778
3, 860
3,847
3,836
3, 907
3,808
3,984
4,146
3,875
3,916
3,956
3,944
4,095
4,054
3,974
4,000
4,106
4,119
4,156
4,147
3,973
3,993
4,161
4,166
4,140
4,362
4,115
3,993
4,082
4,048
3,979
3, 975
4,031
3,991
244
248
244
260
254
249
259
266
252
262
267
246
264
263
260
273
278
256
272
264
262
268
261
259
272
252
257
271
262
268
301
278
268
280
283
293
280
282
280
288
282
284
286
285
290
321
286
300
300
284
321
308
310
319
314
327
322
312
340
329
314
333
324
314
310
315
307
330
313
308
335
319
300
300
311
308
318
303
307
322
311
291
315
299
1,065
,157
,134
,272
,273
,140
,047
,000
968
992
943
924
918
948
925
947
922
887
860
867
940
977
924
932
969
982
969
982
1,043
1, 062
1,217
1, 305
1, 196
1,246
1,207
1,311
1,324
1, 375
1,323
1,276
1,384
1,296
1,190
1,167
1,138
1,115
1,106
1,158
1,117
1,090
1,121
1,094
1,102
1,121
1,115
1,125
1,122
1,199
1,209
1,126
1,138
1,114
1,123
1,185
1,227
1,121
1,159
1,131
1,043
1,039
1,009
919
948
1,004
1,002
971
1,016
1,024
990
1,027
1,063
1,010
1,100
1,046
508
508
504
495
481
511
492
519
539
521
496
486
462
451
452
421
408
427
404
464
508
497
498
478
482
500
540
518
554
568
574
639
622
635
670
679
684
690
734
740
763
736
693
715
674
692
682
630
667
662
642
649
636
628
657
653
672
689
649
674
697
693
697
714
726
722
730
721
721
730
697
696
692
692
734
724
721
733
731
744
729
728
733
742
Chern- Petroleum Rubber Other*
ica 1 and
coal
1,162
1, 163
1,167
1, 225
1, 155
1,244
1, 192
1,229
1, 205
1,178
1,221
1,234
1,129
1,119
1,117
1,091
1, 073
1,120
1. 057
1,141
1,140
1, 095
1, 133
1,099
1,125
1. 150
1, 252
1,212
1,294
1,347
1,392
1, 562
1,478
1, 510
1, 541
1, 594
1,588
1,542
1,608
1, 559
1, 579
1, 554
1,518
1,548
1, 435
1,502
1, 515
1,468
1,474
1, 511
1,455
1,499
1,458
1,453
1,503
1, 491
1,568
1,604
1, 512
1,569
1,583
1, 593
1, 642
1, 647
1,645
1, 647
1,645
1, 593
1,591
1, 576
1, 559
1,570
1,532
1,558
1,618
1,624
1,592
1,637
1,569
1,641
1,657
1,619
1,761
1,764
4. Include apparel, leather and printing and publishing.
Source: U. S. Department of Commerce, Office of Business Economics.
1,523
1,564
1, 572
1,582
1,580
1,628
1,643
1,676
1,686
1,679
1,677
1,686
1,456
1,454
1.480
1,461
1,426
1,429
1,415
1,508
1. 521
1,480
1, 542
1, 458
1,393
1,422
1,508
1,495
1, 571
1,625
1,681
1,733
1,715
1, 662
1, 755
1,778
1,886
1,861
1,939
1,893
2,003
1,962
1,960
1,994
1,955
2,013
2,096
1,998
1,970
2,028
1,979
2,013
1,905
1,975
1,986
1,938
2,021
2,049
2,015
2,103
2,068
2,070
2,095
2,147
2,160
2,258
2,264
2,163
2,194
2,189
2,154
2,161
2,163
2,128
2,188
2,151
2,170
2,171
2,124
2,122
2,101
2,119
2,240
2,287
267
274
268
278
276
286
312
304
277
272
269
268
258
263
262
252
254
257
259
275
246
245
238
244
228
246
285
267
302
330
416
400
368
378
387
422
396
395
448
410
411
412
409
414
394
417
428
363
413
407
402
413
409
414
386
397
428
429
388
424
434
442
452
443
443
442
460
424
414
405
360
372
361
360
378
382
378
385
393
352
346
346
404
417
:
1 , 850
1,759
1,790
1,787
1,799
1, 851
1,677
1,835
1,828
1,730
1,746
1,544
1, 716
1,767
1,841
1,776
1, 683
1,637
1,574
1,716
1,734
1.716
1,564
1.620
1,6,53
1. 739
1.700
1,736
1,759
1, 658
1.941
1,978
1,900
1,942
1,887
1.942
2,021
1, 989
1,969
1,964
1, 928
1,879
2,023
1,987
2,001
1,978
1.899
1,871
1,965
1,954
1.988
2.079
2,000
1,894
1,902
1,953
2,051
2, 162
2 021
2,064
2, 008
2, 008
2,105
2,109
2,119
1,977
1,929
1,989
1.969
2,056
1,999
2,067
1,948
2,019
1,963
1,999
1,828
1,810
1,860
1,950
1.990
2, 106
2,066
1,981
SURVEY OF CURRENT BUSINESS
May 1955
23
Table 4.—Manufacturers' Inventories, 1948-54
[Millions of Dollars; adjusted for seasonal variation
Durable goods industries
Year and month
1948- Jan
Fob
Mar
Apr . .
Mav
June
July ...
Aug
Sept ..
Get
Nov
Dec
1949: Jail
Feb
Mar
Apr
Mav
June
July
Aug
Sept
Get _ ..
Nov
Dec
1950: Jan
Feb
Mar
Apr
May
June
July
Aug
Sept _ - Get
Nov
Dec
1951: Jan
Feb
Mar
Apr
May
June
July
Aug
Sept-. -Get
Nov
Dec
1952: Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Get
Nov
Dec _ . _
1953: Jan
Feb Mar
Apr
May
June
July
Aug
Sept
Get
Nov
Dec
1954: Jan _ .
Feb
Mar
Apr
May
June
July
Aug
SeptOct
Nov
Dec
Total
manufacturing
29, 022
29, 163
29, 482
29, 644
29, 987
30, 272
30, 670
30, 979
31, 264
31,513
31, 664
31, 693
31,910
32, 075
31, 854
31,507
31,166
30. 633
30, 187
29, 820
29, 338
29, 022
28, 741
28, 860
28, 959
29, 021
29, 188
29, 295
29, 518
29, 747
29, 814
30, 124
... 31,018
31, 954
33, 378
34,314
35, 304
35, 942
36, 870
38, 167
39, 077
39, 940
40, 775
41, 579
.._ 41,911
42, 302
42, 575
42, 815
43, 530
43, 765
43, 932
43, 885
43, 730
43, 325
42, 928
43, 130
43,154
43, 300
43, 459
43, 799
43, 957
44, 168
44, 445
44, 808
45, 324
45, 738
45, 776
46, 251
46, 266
46, 093
46, 151
45, 942
. . 45, 587
45, 304
44, 995
44, 495
44, 335
44, 185
43, 431
43, 059
42, 908
43, 168
43, 270
43, 265
For footnotes see table 3.
Primary
metal
Total
14, 274
14, 291
14, 388
14, 455
14, 532
14, 694
14, 924
15, 158
15, 348
15, 503
15,711
15, 737
16, 013
16, 227
16, 161
15, 968
15, 704
15, 348
15, 109
14, 801
14, 469
14, 155
13, 887
13, 974
13, 954
14, 047
14, 130
14, 198
14, 344
14, 568
14, 653
14, 768
15, 125
15, 529
16, 294
16, 780
17, 309
17, 714
18, 096
18, 698
19, 384
20, 077
20, 699
21, 378
21, 844
22, 186
22, 506
22, 806
23, 321
23, 572
23, 757
23, 873
24, 002
23, 702
23, 298
23, 552
23, 651
23, 886
23, 978
24, 412
24, 614
24, 807
25, 116
25, 432
25, 837
26, 147
26, 236
26, 573
26, 547
26, 462
26, 503
26, 338
26, 098
25, 761
25, 577
25, 145
24, 908
24, 617
24, Oil
23, 836
23, 709
23, 916
23, 959
24,023
1,972
2,004
2,031
2,012
2,067
2,104
2,140
2,187
2,248
2,263
2,301
2,290
2,312
2,348
2,407
2,430
2, 451
2,402
2,348
2, 292
2,200
2,138
2,121
2,143
2,134
2,101
2,139
2, 134
2,118
2,161
2,206
2,219
2,260
2,294
2,345
2,364
2,359
2,375
2,373
2,382
2,412
2,430
2,488
2,529
2,579
2,627
2,612
2,691
2,838
2,918
2,982
3,001
3,034
3,061
2,981
2,989
2,980
2,998
3,062
3,013
3,059
3,059
3,142
3,194
3,264
3,310
3,357
3,465
3,484
3,491
3,469
3,441
3,414
3,391
3,378
3,276
3, 208
3, 151
3, 145
3,126
3,068
3, 095
3,127
3,235
Fabricated
metal
,490
,461
,472
,485
,482
,522
,577
,595
,630
1,680
1,752
1,772
1,754
1,779
1,784
1,752
1,689
1,666
1,652
1,622
1, 604
1,536
1,501
1, 516
1,516
1,564
1,587
1, 620
1,640
1, 698
1,691
1,703
1, 711
1,737
1,814
1,843
1,899
1, 935
1,974
2,054
2,142
2, 199
2,230
2,329
2,380
2,410
2,409
2,446
2,346
2, 454
2, 508
2,513
2,490
2,362
2,237
2,312
2, 336
2,345
2,392
2,428
2,459
2, 519
2, 575
2,622
2,678
2,742
2,751
2,797
2,748
2,762
2,766
2,748
2,702
2,698
2,699
2,629
2,640
2,694
2, 583
2,563
2,585
2,523
2,493
2,440
Nondurable goods industries
TransMa- portation Lumber
and
chinery1 equip-2 furniture
ment
Stone,
clay and
glass
Others
Total
1,004
1,035
1,074
1,097
1,112
1,122
1,160
1,194
1.190
1,236
1,231
1,208
1,310
1,317
1, 250
1,262
1,249
1,160
1,127
1,110
1,091
1,121
1,126
1,107
1,132
1,158
1,151
1,151
1,186
1,221
1,247
1,251
1,297
1,324
1,363
1,424
1,472
1,484
1,495
1,565
1,631
1,661
1, 657
1,664
1, 659
1,661
1,627
1,671
1,625
1,589
1, 583
1,598
1,605
1, 607
1,581
1,586
1,610
1,619
1,644
1,667
1,682
1,691
1,715
1,739
1,767
1,809
1,772
1,781
1,775
1,778
1, 748
1,724
1,724
1,681
1,718
1,740
1,736
1,690
1,617
1,570
1,566
1,603
1,617
1,690
522
536
532
536
548
553
561
572
581
594
598
606
558
622
635
622
623
616
612
595
586
581
566
567
567
574
572
578
578
573
580
580
592
617
629
660
675
689
713
727
745
778
799
817
833
841
846
845
848
839
864
861
862
862
845
842
843
841
841
828
828
831
831
834
847
855
851
855
854
868
867
870
881
876
883
884
887
871
861
853
853
856
860
860
1,429
1,368
1,377
1,434
1,443
1,456
1,469
1,489
1,508
1,531
1,517
1,507
1, 570
1,552
1,549
1,557
1, 540
1,506
1,515
1, 469
1,445
1,426
1, 379
1,384
1,401
1,400
1,414
1,423
1,442
1, 477
1,480
1,493
1, 555
1, 602
1,687
1,671
1,719
1,815
1,864
1,907
1,938
2,014
2,088
2,147
2, 167
2, 162
2,142
2,138
2,167
2,142
2,106
2,104
2,052
2,044
2,016
2,012
1, 989
2,023
2,002
2,130
2,123
2, 122
2,148
2,175
2,192
2,224
2,229
2,239
2,263
2,273
2,278
2,253
2.258
2,246
2,225
2,242
2,251
2,242
2,181
2,195
2,161
2,138
2,112
2,137
14, 748
14, 872
15, 094
15, 189
15, 455
15, 578
15, 746
15, 821
15,916
16,010
15, 953
15, 956
15, 897
15, 848
15, 693
15, 539
15,462
15, 285
15, 078
15,019
14. 869
14, 867
14, 854
14, 886
15,005
14,974
15,058
15, 097
15,174
15, 179
15, 161
15. 356
15, 893
16, 425
17, 084
17,534
17,995
18, 228
18, 774
19, 469
19, 693
19, 863
20, 076
20, 201
20, 067
20,116
20, 069
20, 009
20, 209
20, 193
20, 175
20, 012
19, 728
19, 623
19, 630
19, 578
19, 503
19,414
19, 481
19, 387
19, 343
19, 361
19, 329
19, 376
19, 487
19, 591
19, 540
19, 678
19, 719
19, 631
19, 648
19, 604
19, 489
19,543
19,418
19, 350
19, 427
19, 568
19, 420
19,223
19, 199
19, 252
19,311
19,242
5, 030
5, 073
5,097
5,108
5,092
5,119
5,210
5,284
5,321
5,353
5, 421
5,411
5,466
5, 539
5,503
5,403
5,257
5, 138
5,065
4,990
4,871
4,783
4,722
4,686
4, 667
4,718
4.726
4,727
4,795
4,870
4,880
4,928
5,045
5, 190
5, 470
5,676
5, 842
5, 999
6,181
6,401
6,646
6,964
7,246
7, 515
7,706
7,823
8,004
8,113
8,301
8,385
8,449
8,547
8,617
8,526
8,431
8,425
8, 485
8,494
8,545
8,618
8, 656
8,678
8,743
8, 799
8,922
8,948
9, Oil
9,097
9,098
9,080
9,144
9,055
8,878
8,812
8,696
8,533
8,472
8,326
8,193
8,138
8,057
7,973
7,978
7,881
2,827
2,814
2,805
2, 783
2,788
2,818
2,807
2,837
2,870
2,846
2,891
2,943
3,043
3,070
3,033
2,942
2,895
2,860
2,790
2,723
2,672
2,570
2,472
2,571
2,537
2, 532
2, 541
2,565
2,585
2,568
2,569
2, 594
2, 665
2, 765
2,986
3,142
3,343
3,417
3, 496
3, 662
3,870
4,031
4,191
4,377
4,520
4,662
4,866
4,902
5, 196
5, 245
5,265
5,249
5,342
5, 240
5, 207
5, 386
5, 408
5,566
5,492
5, 728
5, 807
5,907
5,962
6,069
6,167
6,259
6, 265
6,339
6,325
6,210
6, 231
6,247
6, 241
6, 057
5, 978
5,841
5,714
5, 643
5,431
5,391
5,419
5, 728
5,772
5, 780
Source: U. S. Department of Commerce, Office of Business Economics.
Food
and
beverage
3,928
3,853
3,820
3,761
3,814
3,860
3,792
3,751
3,775
3,788
3, 820
3, 845
3,747
3, 691
3, 685
3, 630
3, 592
3,598
3, 551
3, 630
3,607
3,643
3, 607
3.646
3,698
3, 639
3, 736
3, 762
3,721
3, 645
3,718
3. 863
3, 999
3,998
4, 225
4, 396
4, 547
4, 518
4, 673
4,945
4,915
4,926
4, 985
5, 044
4,997
4, 992
4, 979
4, 922
4,962
4,991
4,995
4, 950
4,924
4, 930
4, 948
4,927
4, 940
4, 905
4, 906
4,804
4,771
4,700
4, 633
4, 627
4, 620
4,616
4,562
4, 555
4, 585
4,627
4,681
4,663
4,619
4,640
4,615
4,601
4,645
4,699
4,592
4,439
4,409
4,415
4,529
4.532
Tobacco Textile Paper
1,299
1,290
1,303
1,341
1,351
1,382
1,391
1,446
1,497
1,528
1,492
1,471
1,481
1,481
1,474
1,491
1, 485
1, 493
1,442
1,502
1,524
1,506
1,477
1,474
1,496
1,488
1,489
1,497
1,482
1,470
1,422
1,520
1, 604
1, 620
1,613
1,600
1,608
1,618
1,635
1,646
1,646
1,655
1, 635
1,674
1,671
1,717
1,767
1,756
1,739
1,747
1,751
1,748
1,750
1,763
1,770
1,782
1,756
1,772
1,788
1,788
1,835
1,816
1,807
1,809
1,808
1,817
1,801
1,844
1,841
1,846
1,828
1,838
1,836
1,826
1,812
1,823
1,830
1,855
1,886
1,871
1,834
1,853
1,861
1,845
1,995
2,054
2,127
2,149
2,182
2,206
2,216
2,229
2,212
2,202
2,178
2,198
2,210
2,203
2,190
2,131
2,097
2, 020
1,967
1,916
1,858
1,902
1,962
1,988
1,979
2,021
2,057
2,065
2,106
2,142
2,108
2,106
2,185
2,373
2,546
2, 635
2, 805
2,911
3,079
3, 250
3,349
3,372
3,371
3,306
3,195
3, 148
3,111
3,052
2,979
2,878
2,821
2,762
2,704
2,641
2,613
2,593
2,587
2,560
2,585
2,567
2,525
2,568
2,595
2,567
2,575
2,604
2,566
2,567
2,534
2,473
2,484
2,523
2,477
2,469
2,461
2,415
2,425
2,418
2, 385
2,373
2,352
2,322
2,339
2, 399
714
725
733
744
753
755
792
794
799
802
810
807
798
787
788
778
788
769
744
726
703
692
674
672
684
683
684
690
698
696
697
702
723
742
752
782
808
809
839
861
880
916
956
986
993
1,009
999
1,015
1,051
1,057
1,064
1,068
1,050
1,037
1,025
1,006
999
989
974
977
966
953
957
958
961
960
955
959
968
976
982
972
971
975
988
992
996
997
984
972
983
1,008
1,011
1. 004
Chem- Petroleum Rubber Other «
ical
and coal
2,130
2, 158
2, 203
2,180
2,197
2,170
2, 212
2,204
2,209
2,207
2,217
2,207
2, 222
2,228
2,208
2,178
2,131
2,072
2, 081
2,064
2.042
2,014
2,019
2,022
1,994
2, 002
1,992
2,000
2, 035
2, 048
2, 053
2,061
2.116
2,201
2,308
2,414
2, 453
2,518
2,592
2,681
2,747
2,728
2,788
2,844
2,882
2,931
2, 952
2.972
2,979
3,000
3,021
3,007
3,012
2,971
2,939
2,946
2,926
2, 931
2,936
2, 937
2,908
2,905
2,896
2,942
2,978
2,989
2,992
3,032
3,046
3,035
3,003
3,001
2,996
2,989
2,952
2,939
2.930
2,934
2,946
2,949
2,948
3,006
3,006
3. 013
1,755
1,811
1,835
1,875
1,926
1,968
2,034
2,075
2,116
2,180
2,236
2,274
2,330
2,395
2,380
2,408
2,403
2,380
2,376
2,316
2,281
. 2,279
2,240
2,205
2,210
2,184
2,098
2,053
2,032
2,005
2,013
1,974
2,000
2,041
2,050
2,049
2,092
2,126
2, 155
2,202
2,249
2,313
2,340
2,366
2,392
2,407
2,424
2,438
2, 415
2, 422
2,463
2. 460
2,357
2,413
2,426
2,444
2,487
2,485
2,533
2.529
2,597
2,625
2,639
2,613
2,660
2,645
2,661
2,714
2,705
2,722
2,743
2,705
2,712
2,737
2,723
2,733
2,785
2,795
2,763
2,760
2,739
2,744
2,731
2,643
572
582
598
590
590
595
607
620
644
644
653
646
628
622
623
620
617
605
598
582
567
553
563
568
538
556
562
554
562
560
528
503
525
554
568
547
565
571
568
563
588
614
625
649
668
718
717
765
807
837
850
849
844
837
865
858
849
841
823
849
839
839
854
857
868
893
901
888
899
878
865
859
835
848
844
813
798
817
787
754
799
835
811
821
2, 355
2,399
2, 475
2,549
2,642
2, 642
2,702
2, 702
2,664
2, 6511
2, 547
2,608
2,481
2, 441
2, 345
2, 303
2, 349
2,348
2, 319
2,283
2,287
2,278
2,312
2.311
2, 40»]
2, 401
2, 440
2, 476
2, 538
2, 613
2,622
2, 627
2, 741
2, 89^5
3, 022
3,111
3.117
3, 157
3, 233
3, 321
3, 319
3, 339
3, 376
3, 332
3, 269
3,194
3, 120
3, 089
3, 277
3,261
3,210
3. 168
3, 087
3, 031
3, 044
3, 022
2, 959
2, 931
2, 936
2, 936
2, 902
2, 955
2,948
3, 003
3,017
3, 067
3, 102
3.119
3, 141
3, 074
3, 062
3, 043
3,043
3, 059
3,023
3, 034
3,018
3,053
3. 077
3; 105
3, 136
3. 069
3,023
2. 985
SURVEY OF CURRENT BUSINESS
24
May 1955
Table 5,—Manufacturers' Inventories, 1948—54
[Millions of dollars; not adjusted for seasonal variation]
Nondurable-goods industries
Durable-goods industries
Year and month
1948: JanFeb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov _ _
Dec
1949: Jan
Feb
Mar
\pr
May
June
July
Aug
Sept
Get
Nov
Dec
1950: Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
_
-
Oct
Nov
Dec
1951: Jan
Feb
Mar
Apr-
May
June
July
Aug
Sept
Oct
Nov
Dec
1952: Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct..
T
!\ OV
Dec
1953: Jan
Feb
Mar
Apr
May
June
_ _
July
Aug.._ . _
Sept
Oct.. „_
Nov
Dec
1954: Jan
Feb
MatApr
May
June
July
Aiier
Sept
Oct_
Nov
Dec
Total
manufacturing
Total
Primary
metal
29, 227
29, 288
29, 523
29, 673
30, 039
30, 381
30, 753
30, 872
31, 074
31, 224
31,418
31, 781
32, 286
32, 291
31, 969
31,568
31,216
30, 692
30, 180
29, 589
29, 104
28, 752
28, 550
29, 038
29, 259
29, 220
29, 306
29, 354
29, 574
29, 836
29, 765
29, 862
30, 735
31, 607
33,146
34, 534
35, 619
36, 178
37, 045
38, 189
39, 094
39, 976
40, 840
41, 355
41, 632
41,971
42, 319
43,011
43, 882
44, 024
44, 145
43, 951
43, 759
43, 330
42, 951
42, 883
42, 876
43, 024
43, 236
44, 029
44, 268
44, 389
44, 633
44, 873
45, 360
45, 767
45, 828
45. 994
45, 957
45, 784
4.5, 892
46, 175
45, 884
45, 490
45, 150
44, 523
44, 337
44, 192
43,483
42, 836
42, 639
42, 891
43, 037
43,511
14, 328
14, 357
14, 491
14,614
14, 753
14, 846
14, 945
15,021
15, 144
15, 277
15, 472
15, 725
16, 145
16,315
16,251
16, 127
15, 922
15, 497
15, 126
14, 665
14, 272
13, 944
13, 675
13, 956
14,011
14, 113
14, 219
14, 344
14, 558
14, 735
14, 680
14, 643
14,928
15,303
16, 044
16, 768
17, 391
17, 829
18, 250
18, 846
19, 547
20, 171
20, 728
21,212
21, 596
21, 928
22,244
22, 815
23, 414
23, 697
23, 944
24, 055
24, 192
23,813
23, 345
23, 378
23, 403
23, 649
23, 725
24, 428
24, 679
24, 919
25, 303
25, 622
26, 040
26, 279
26, 303
26, 384
26, 276
26, 200
26, 213
26, 352
26, 160
25, 869
25, 756
25, 331
25, 111
24, 756
24, 078
23, 670
23, 462
23, 676
23, 694
24,047
1,990
1,984
1,950
1,938
2,016
2,066
2,132
2, 210
2.293
2,332
2,381
2,364
2, 333
2,324
2, 309
2,339
2,388
2, 359
2, 339
2,318
2,244
2,204
2, 193
2,211
2,152
2,080
2,051
2,054
2,063
2,122
2,197
2,243
2,308
2, 369
2,430
2,444
2,391
2, 351
2,284
2,279
2, 336
2, 351
2, 466
2,544
2.652
2,716
2,720
2,789
2,879
2,889
2,871
2,872
2,938
2,962
2, 967
3,009
3,064
3,100
3,185
3,119
3,102
3,029
3, 023
3, 055
3,161
3,204
3, 342
3,489
3, 584
3,611
3, 608
3, 558
3,457
3, 357
3,255
3, 140
3, 1 13
3, 057
3, 133
3, 148
3, 151
3, 196
3, 246
3,345
r footnotes see table 3.
Fabricated
metal
1,482
1,461
1, 495
1,630
1,570
1,589
1,618
1,579
1,579
1,611
1,658
1,711
1,744
1,779
1,812
1,805
1,790
1,740
1,695
1, 606
1, 554
1,472
1,421
1,464
1,507
1,564
1,612
1,669
1,738
1,774
1,735
1, 686
1, 657
1,665
1,718
1,779
1,899
1, 935
1, 994
2, 095
2,228
2,287
2,297
2, 306
2,309
2,314
2, 313
2,397
2,346
2, 454
2, 533
2, 563
2, 590
2,457
2, 304
2,289
2, 266
2, 251
2, 296
2, 379
2,459
2, 519
2, 601
2,674
2, 785
2,852
2,834
2, 769
2, 666
2, 652
2, 655
2,693
2, 702
2,698
2,726
2, 682
2, 746
2, 802
2, 660
2, 537
2, 507
2, 422
2, 393
2,391
TransStone,
Ma- portation Lumber
and
clay, and Other 3
chinery 1 equip- furniture
glass
ment 2
5,042
5, 095
5, 165
5, 204
5,216
5, 210
5,216
5, 200
5,222
5, 255
5, 308
5,301
5,483
5, 565
5,576
5, 505
5, 384
5, 229
5,069
4, 909
4, 779
4, 694
4, 624
4,644
4.683
4,742
4,791
4,817
4,911
4,963
4, 886
4,852
4,950
5,092
5,354
5, 625
5, 859
6, 043
6,268
6, 515
6, 737
7,042
7,242
7, 432
7,565
7.712
7,885
8,055
8, 319
8,444
8,568
8,697
8, 734
8,623
8,428
8, 334
8. 331
8. 375
8,413
8, 553
8, 676
8, 735
8,867
8,957
9,046
9, 053
9,010
9, 003
8, 933
8, 953
8,999
8,984
8.897
8, 867
8, 818
8,686
8,590
8, 424
8,192
8, 052
7,910
7, 861
7. 852
7,820
2, 843
2, 847
2,853
2, 838
2,830
2,827
2,797
2,788
2,818
2, 792
2, 836
2,952
3, 059
3, 106
3, 081
2,996
2,934
2,866
2.777
2,671
2,618
2,515
2,417
2,566
2, 549
2,560
2,580
2,613
2,625
2,580
2, 564
2. 551
2,619
2,713
2,928
3,150
3, 362
3, 451
3, 559
3, 713
3,894
4,027
4, 183
4. 322
4.458
4, 624
4. 796
4,941
5,213
5, 269
5, 335
5, 308
5, 369
5,244
5, 208
5, 327
5, 345
.5, 538
5, 426
5. 773
5.792
5,921
6, 033
6,136
6,199
6,269
6,269
6,269
6,250
6, 171
6. 147
6, 293
6, 223
6, 070
6, 043
5, 902
5, 742
5. 656
5, 440
5, 338
5, 362
5, 702
5, 699
5, 825
1, 025
1,042
1,076
1,095
1, 104
1,121
1,157
1,198
1,181
1,223
i,218
1,228
1,336
1, 326
1, 251
1, 257
1, 236
1, 155
1,124
1,113
1,083
1,110
1,114
1,124
1, 155
1,167
1,153
1, 150
1,176
1,220
1,243
1,254
1,286
1,308
1,345
1,444
1,472
1,499
1, 510
1, .549
1,615
1,644
1, 674
1,681
1, 659
1,644
1,627
1,671
1, 625
1, 605
1,599
1,582
1,589
1,591
1,597
1, 602
1,610
1, 603
1,644
1,667
1, 682
1,708
1, 732
1, 722
1,749
1,791
1,790
1,799
1,775
1, 760
1, 748
1,724
1,724
1, 698
1, 735
1, 723
1,719
1.673
1, 633
1,586
1, 566
1,587
1,617
1. 690
532
547
548
547
554
558
561
566
563
564
580
612
635
648
641
636
629
622
612
589
568
552
550
573
578
585
589
589
584
579
580
574
574
586
610
666
689
717
734
749
760
786
799
801
808
799
80^
845
865
873
890
887
879
871
845
825
818
799
799
828
845
864
856
859
864
864
851
838
828
825
824
870
899
911
910
911
905
880
861
836
827
813
817
860
1,414
1,381
1,404
1,462
1,463
1,475
1, 464
1,480
1,488
1, 500
1,491
1,497
1,555
1,567
1,581
1, 589
1,561
1,526
1,510
1,459
1,426
1,397
1, 356
1,374
1,387
1,415
1,443
1,452
1,461
1,497
1,475
1,483
1,534
1,570
1, 659
1,660
1, 719
1, 833
1, 901
1, 945
1,977
2,034
2, 067
2, 126
2,145
2,119
2,099
2, 117
2,167
2, 163
2,148
2, 146
2, 093
2, 065
1, 996
1, 992
1, 969
1 , 983
1,962
2,109
2, 123
2, 143
2.191
2,219
2, 236
2, 246
2,207
2,217
2, 240
2.228
2, 232
2, 230
2,258
2, 268
2, 269
2, 287
2, 296
2, 264
2, 159
2, 173
2, 139
2, 095
2, 070
2, 116
Source: U. S. Department of Commerce, Office of Business Economics.
Total
14, 899
14, 931
15, 032
15,059
15, 286
15, 535
15, 808
15, 851
15,930
15, 947
15, 946
16,056
16,141
15,976
15,718
15, 441
1 5, 294
15,195
15, 054
14, 924
14, 832
14, 808
14, 875
15,082
15, 248
15,107
15,087
15,010
15,016
15,101
15,085
15,219
15,807
16, 304
17, 102
17, 766
18, 228
18, 349
18, 795
19, 344
19, 547
19, 805
20,112
20, 143
20, 036
20, 043
20, 075
20, 196
20, 468
20, 327
20, 201
19, 896
19, 567
19, 517
19, 606
19, 505
19, 473
19,375
19,511
19, 601
19, 589
19, 470
19, 330
19, 251
19, 320
19, 488
19,525
19,610
19, 681
19, 584
19, 679
19, 823
19, 724
19,621
19, 394
19, 192
19, 226
19,436
19,405
19, 166
19, 177
19,215
19, 343
19, 464
Food
and
beverage
3,974
3,805
3, 651
3,567
3,590
3,671
3,787
3,882
3,946
3,924
3,991
3,954
3,869
3,696
3,593
3, 464
3,378
3,391
3,493
3,647
3,723
3,770
3, 786
3,829
3,814
3,665
3, 662
3, 604
3,516
3,441
3, 603
3, 839
4,081
4,119
4,438
4,611
4,691
4,589
4,653
4,780
4, 675
4,662
4,866
5,057
5,092
5,149
5,183
5,117
5, 123
5,067
4, 967
4,788
4, 675
4, 654
4,812
4,940
5, 034
5,079
5, 115
5,005
4, 918
4,757
4.588
4, 460
4,371
4, 346
4, 432
4,574
4, 679
4,799
4,893
4,865
4,757
4,670
4. 548
4,409
4, 368
4,412
4, 467
4, 460
4, 502
4, 588
4, 735
4, 730
Tobacco Textile
1,377
1, 355
1,342
1,341
, 310
,313
, 308
,359
,467
,558
,522
,530
1,570
1, 555
1,518
1,491
1,441
1,418
1,355
1,412
1,493
1,536
1, 507
1,533
1,586
1,562
1, 534
1,497
1, 438
1,396
1,336
1, 429
1, 572
1, 652
1, 646
1, 664
1,705
1, 699
1,684
1,662
1,613
1, 572
1, 537
1, 574
1,638
1, 734
1,785
1,826
1, 843
1, 834
1,804
1,765
1.715
1,675
1,664
1,675
1,721
1,790
1, 806
1,860
1,945
1,907
1,861
1,827
1,772
1.726
1, 693
1, 733
1,804
1, 864
1,846
1,911
1,946
1.917
1, 866
1,841
1, 793
1, 762
1, 773
1,759
1,797
. 1,872
1,880
1.919
2,000
2,080
2,166
2,192
2,234
2,232
2,242
2,202
2,185
2,136
2,118
2,159
2, 215
2,230
2, 230
2,173
2,147
2,043
1,990
1,893
1,835
1,845
1,908
1, 952
1, 983
2,045
2,093
2, 106
2,157
2,168
2, 135
2, 082
2, 160
2,302
2, 475
2,587
Paper
706
718
733
729
738
755
800
810
815
818
810
799
798
795
804
785
780
769
744
726
696
679
667
679
684
690
698
697
691
696
697
702
716
728
745
790
808
2', 911
825
3,079
856
3, 282
870
3, 416
880
3, 439
916
3, 438
947
3,306
976
983
3. 195
3,117
989
3,049
989
1,025
2,960
1,051
2,949
2, 878
1,078
2,821
1, 085
1,079
2,790
2,758
1,050
2,694
1, 037
2,665
1,015
2,593
996
2,587
989
2, 534
969
2, 533
964
987
2,490
2, 500
966
2, 568
972
2, 595
976
2,593
968
961
2,627
2, 656
960
2,617
945
2, 567
949
2,534
958
2,448
956
2, 434
972
2,447
982
2,452
971
2,469
995
2, 461
1,008
2, 439
1,002
2, 474
996
2, 466 !
997
2, 433 !
974
962
2, 373 i
2, 352 i
973
2,299 i
988
2, 292
1,001
1,014
2,327
i
Chem- Petroleum
Other*
Rubber
ical
and coal
2,180
2,202
2,240
2,209
2,210
2,183
2,183
2,152
2,136
2,147
2, 185
2,263
2,276
2,274
2, 246
2,208
2,143
2,084
2,055
2,015
1,975
1,960
1,989
2,071
2,040
2,042
2,026
2,027
2,047
2,060
2,027
2,012
2,047
2,142
2,274
2,474
2,480
2,543
2,628
2, 706
2, 746
2,757
2,790
2, 805
2,816
2, 853
2,915
3, 039
3, 01 3
3, 030
3,064
3, 033
3, 009
2,999
2, 943
2, 905
2, 859
2, 853
2, 900
3, 004
2,938
2, 933
2,936
2,968
2, 975
3, 016
2,995
2,989
2, 976
2, 955
2, 967
3, 070
3,024
3,015
2,992
2, 963
2,929
2,961
2,952
2,910
2, 886
2,928
2,969
3,082
!
i
1
i
i
1
;
;
1
!
!
1
i
i
i
1
:
I
1
>
!
!
i
1,738
1,774
1,799
1,840
1,907
1, 968
2,034
2,096
2,158
2,223
2,281
2,297
2.307
2; 347
2,332
2, 360
2,379
2,380
2,376
2, 340
2,327
2,325
2,285
2,227
2,188
2,140
2,056
2,012
2,012
2,005
2,013
1,994
2,040
2,081
2,091
2,069
2, 050
2,062
2,090
2,158
2,227
2,290
2,363
2, 413
2,464
2,479
2, 473
2, 462
2, 367
2, 349
2, 389
2,411
2, 333
2, 389
2, 450
2, 493
2, 562
2, 560
2, 584
2, 554
2, 545
2, 546
2, 560
2, 561
2, 633
2, 619
2, 688
2, 768
2, 786
2. 804
2, 798
2, 732
2,658
2, 655
2,641
2,678
2, 757
2,767
2, 791
2,815
2, 821
2, 826
2,786
2, 669
572
600
622
620
625
624
613
608
612
606
614
613
628
641
648
651
654
635
604
570
539
520
529
540
548
562
573
581
590
577
517
488
499
520
557
547
576
577
579
591
612
632
619
630
635
675
703
765
823
845
867
883
886
862
856
832
807
791
807
849
856
847
871
891
911
920
892
861
854
825
848
859
852
856
861
846
838
841
779
732
759
785
795
821
!
1
1
l
!
1
i
i
\
!
!
i
|
!
1
j
2, 352
2, 397
2, 479
2,561
2,672
2,789
2,841
2,742
2,611
2,535
2,425
2,441
2,478
2,438
2, 347
2,309
2,372
2,475
2,437
2,321
2,244
2,173
2,204
2,251
2,405
2,401
2,445
2,486
2, 565
2,758
2, 757
2, 673
2, 692
2, 760
2, 876
3, 024
3, 141
3, 143
3, 226
3,295
3,378
3,537
3, 552
3,382
3, 213
3, 047
2,978
3,002
3,301
3,246
3, 204
3,147
3, 141
3, 207
3, 201
3, 071
2,914
2,799
2,802
2,852
2,921
2,940
2, 943
2, 983
3, 070
3, 245
3,263
3,169
3,090
2,933
2, 921
2,957
3,064
3,044
3,017
3,014
3, 071
3, 230
3, 236
3, 155
3,087
2, 929
2, 885
2, 902
BUSINESS STATISTICS
Wontki
J- HE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1953 Statistical Supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $1.50) contains monthly data for the years 1949 to 1952, 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 1949. Series
added or revised since publication of the 1953 Supplement are indicated by an asterisk (*) and a dagger (f), 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,
Data from private sources are pro-
vided through the courtesy of the compilers, and are subject to their copyrights.
1955
1954
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
April
May
June
August
July
Septem- October Novem- December
ber
ber
January
February
March
April
GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT
Seasonally adjusted quarterly totals at annual rates: t
National income total
bil of dol
Compensation of employees, total
Wages and salaries, total
Private
Military
._ .
Government civilian
Supplements to wages and salaries
_
do
do ___
do
do
do
do
.__
Proprietors' and rental income, total cf
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
298 9
299.6
298 8
302.6
206.4
194.6
161.2
9.7
23.7
11.8
206 6
194. 9
161 5
9.5
208 9
197.2
163 0
23 8
11. 7
207 2
195.6
161 6
9 6
24 4
11.6
24 7
11.7
9.5
212 7
200.2
166 0
9.3
24 9
12.5
49 4
25.6
13.0
10.8
49 0
25 9
12.2
10 9
48
25
11
10
5
9
6
9
48 1
26 3
11.0
10 9
49
26
12
11
34.1
34.5
17.0
17.5
34.9
34.5
17.0
17. 5
33
34
16
17
—
9
9
2
8
4
3
2
36.4
36. 8
18.1
18.7
— 4
—1 3
9.2
9.4
.4
9.1
-.4
9.0
_ _ _ ._
7
4
2
0
do
355.8
356 0
355 5
362 0
370 0
Personal consumption expenditures, total.. _do
Durable goods
do
Nondurable goods __
do
Services
_
do
230.5
28.0
118.8
83.6
233.1
28.8
120.0
84 3
234 8
28.9
121 1
84 8
237.7
29.9
122 1
85 7
242
33
122
86
Gross private domestic investment, total
New construction
Producers' durable equipment
Change in business inventories
44.5
26.0
22.7
-4.2
45.6
27.0
22.4
—3 8
45
28
21
4
49 5
29.1
21 7
—1 3
53 3
30 8
21 1
13
-1.1
—1 0
8
o
81.9
55.0
46.9
26.9
78.3
51 3
44 7
27 0
do
do
do __
do
285 1
32.8
252.3
21.8
285 7
32.9
252.9
19.7
bil. of dol._
285.0
284.4
286.2
286.5
285. 7
285. 4
286. 6
286.3
289.3
291.4
291.4
194.5
84.2
52 0
25.0
33.3
194.3
83.7
52 0
25.2
33.4
195.0
84.2
52 3
25 2
33.3
195.5
84.0
52 5
25 5
33.5
195.7
83.4
53 1
25 4
33 8
195 5
82.7
52 8
25 8
34 2
195
82
52
25
34
196
^2
52
26
34
1
9
9
1
2
198 1
84 6
53 0
26 2
34 3
197
84
53
9
6
34
8
4
1
1
2
199 3
85 2
53 5
6.6
6.6
48.9
23.9
15.8
48.2
24.0
15.9
6 6
49.4
24.0
15 8
6 6
49.2
24.1
15 8
6 6
47.9
24.2
15 8
6 6
48.2
24.3
15 *
6 6
47.2
24.5
16 5
6 6
48.3
24. 6
16 4
6 6
48.8
26.2
16 7
6 6
49.5
24.7
16 5
Gross national product, total
_ do
do
do
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
1'ersonal saving §
_._ _
_
- _
3
3
8
8
_ 2
_
75
47
42
27
74 }
45 9
40 5
28 9
6
9
1
7
286 2
32*9
253. 2
18 4
289
33
255
18
0
1
9
2
0
4
1
5
74
45
40
°8
7
9
7
8
292
32
260
ig
7
1
6
7
PERSONAL INCOME, BY SOURCE
Seasonally adjusted, at annual ratcs:f
Total personal income
Wage and salary disbursements, total
do
Commodity-producing industries __ _ do
Distributive industries
do
Service industries
_____ _
_ __ do
Government
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
bil. of dol. .
4
4
9
9
2
6 6
48.8
24.4
16 0
26 4
34 9
r
292.4
294.2
iqq g
901 5
87 4
r 85 Q
T Z'Z A
r O« '}
CO
K
9g ^
34 2
34 2
6 6
T
49.8
r
24.8
* i f\ <\
66
49.7
24.8
16 8
4.7
4.6
4.6
4.7
4.5
4.6
4,7
4.6
4.7
5.2
4.7
5.1
5.2
Total nonagricultural income
do
268.8
269.1
269. 7
270.3
270. 6
270. 2
271, 1
272.3
274.6
275.5 '• 276. 2
2,76. 5
278.5
' Revised.
t Revised series. Quarterly estimates of national income and product have been revised back to 1939 (annual data, to 1929); quarterly and monthly estimates of personal income back to
1929 (monthly revisions prior to May 1953 appear in the 1954 issue of the National Income Supplement). For quarterly data prior to 2d quarter 1953, see pp. 8 and 9 of the July 1954 SURVEY
^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.
S-l
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
May
1955
19 54
March
April
May
June
DecemOctober NovemAugust September
ber
ber
July
February
January
March
April
GENERAL BUSINESS INDICATORS—Continued
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly totals:!
All industries
Manufacturing
Durable-goods industries
Nondurable-goods industries
mil. of dol_ .
6,266
6,932
6 640
6,988
J 6,296
do
do
__do
2,569
1,201
1,368
2,859
1 309
I 550
2 645
1 207
1 438
2, 965
1 373
1, 592
2,488
1, 155
1,333
219
250
384
929
1,916
*>61
245
375
1 121
2 071
251
179
374
244
180
379
1 060
2 133
1, 109
2. 110
233
214
369
947
27.46
26 92
26.84
26.18
11 62
94
1 04
1 57
4 33
7 97
11 09
1 04
91
1 44
4 37
8 07
10 98
1 00
10 5H
80
.91
68
10 24
I 51
4 12
8 42
1.53
4 01
8.46
1.50
4 05
8.53
_
Mining
do
Railroads
-do
Transportation other than rail
do
Public utilities
- -do
Commercial and other
do
Seasonally adjusted quarterly totals at annual rates:
A.11 industries
bil. of doL.
Manufacturing
Mining
Railroads
Transportation, other than rail
Public utilities
Commercial and other
do _ .
..do
do
-do
do
do
2,046
1
26. 04
.93
78
FARM INCOME AND MARKETINGS^
Cash receipts from farming, including Government
payments, total
_ _ _ .mil. ofdol.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:
A.11 commodities
- 1935-39 =100. .
Crops
do
livestock and products
do
3,190
3,178
1,780
1 398
3,506
3 497
2,032
1 465
3,191
3, 172
1,655
1, 517
335
835
278
320
885
298
372
393
357
479
629
368
528
718
386
479
585
399
419
521
344
582
440
340
••261
310
286
204
348
148
132
160
163
155
168
201
233
177
222
263
191
196
199
193
176
183
171
165
167
163
129
106
146
129
79
166
2,109
2 070
2,205
2, 187
719
929
1 450
1 351
1,258
2,481
2,469
1,111
1, 358
360
628
248
349
732
262
287
179
367
300
189
382
312
254
356
330
328
331
128
77
165
121
66
162
130
69
175
142
104
171
2, 036
2 012
554
1 458
342
817
281
1,934
1,901
304
196
384
506
I 395
345
762
262
2,015
1,986
536
389
762
259
380
689
243
326
796
260
2,809
2,779
1,474
1,305
327
702
261
2,571
2,536
1,245
1, 291
311
741
219
1,948
1,917
1,921
1,898
1,179
1 321
738
299
618
243
577
348
671
286
289
INDUSTRIAL PRODUCTION
Federal Reserve Index of Physical Volume t
126
124
124
124
116
123
126
130
130
128
131
135
-- do
do
_- do
do
do
do
do
do
do
do
128
140
108
106
147
•j ro
125
136
108
108
147
148
121
138
126
162
125
135
109
109
149
147
122
13"
125
162
116
125
94
96
142
138
116
128
119
145
125
132
100
97
139
144
124
138
118
176
127
135
103
102
137
145
124
145
122
189
132
140
112
112
142
150
126
150
121
207
132
143
118
122
158
154
125
150
121
206
129
143
11"
121
160
15b
124
133
147
129
130
121
145
132
172
125
137
107
105
147
150
120
141
128
166
123
19
159
124
148
126
191
136
151
136
138
17C I
162 '
12t
152
12?
19t i
Transportation equipment
do
Autos
do
Trucks
do
Aircraft and parts
...
.do
Instruments and related products . -- do
Furniture and
fixtures
do
Lumber and products.
..do
Stone, clay, and glass products .
do
Miscellaneous manufactures
do
182
142
101
485
145
106
117
128
131
181
151
101
475
140
101
119
128
125
179
146
101
472
138
98
122
13(
124
175
143
96
472
136
100
115
131
12"
165
125
78
469
132
99
91
128
121
165
123
79
465
132
107
102
134
130
155
81
74
470
137
111
123
136
13f
159
70
78
464
138
113
134
139
140
179
144
93
471
140
112
123
13"
13
191
174
94
47
14
11
lib
134
13
200
195
98
479
141
109
118
132
129
115
98
98
115
9(
99
98
101
9o
101
6
114
98
9"
106
95
102
100
99
94
99
63
114
103
100
105
96
113
108
108
94
99
68
115
109
106
108
98
124
114
114
93
96
7l
107
109
107
102
99
118
103
92
82
85
68
117
115
117
108
98
108
96
111
97
101
74
120
124
120
98
10"
98
109
9
10(
67
11°)
123
117
118
127
99
110
107
111
103
109
69
12
110
11
13
9
9
9
10
10
11
6
11
10
10
13
9
8
8
8
r
119
98
102
138
94
84
80
105
104
114
70
116
100
135
133
121
150
150
121
129
118
108
94
136
131
122
147
150
120
128
103
89
134
132
12
145
150
123
130
118
99
94
136
136
119
144
152
124
131
121
91
87
120 1
116 i
113 1
137
145
122
130
85
110
101
10
94
137
133
122
149
153
12"
133
118
106
98
146
140
125
155
160
126
132
132
10
9
14
13
12
15
16
12
13
12
9
9
12
12
12
15
16
12
14
Unadjusted combined indexf
1947-49=100
Manufactures
Durable manufactures
Primary metals
-.
Steel
Primary nonferrous metals.. _
Metal fabricating (incl. ordnance)
Fabricated metal productsMachinery
Nonelectrical machinery
Electrical machinery
Nondurable manufactures . _
do
Food and beverage manufactures. _ .
..do
Food manufactures
do
Meat products.do
Bakery products
do
Beverages
_
-do
Alcoholic beverages
do
Tobacco manufactures
do _ . .
Textile-mill products
do
Cotton and synthetic fabrics
.. do
Wool textiles
. ...do...
Apparel and allied products
Leather and products
._
Paper and allied products
Pulp and paper
Printing and publishing ...
Chemicals and allied products
Industrial chemicals
Petroleum and coal products
Petroleum refining
Rubber products
do
..do ...
- do
. do
do
do
do
do
do
-do
r
115
137
134
116
144
150
124
131
94
'159
141
9
10
* 12
T
113
105
140
r
20t
21C •
14
r 15
r
14
14
r
r
Iblj
130
r 154
r
i
r 477 ;
r
T
14^
1U
12t
I'M
13^[l
r
r
T
12i}'
9'(''
9 )i
12^[(
9<y:
8()
Si3;
10^1!
10*$
11 3
7.21
11 3
IF?
14*j
14
12 L
16 1
17(3
13 j!
14 i
14_t
132
r 19(j
T
r 87
140
118
157
169
132
142
143
137
r
210
°15
104
477
P 137
P 139
'156
v 145
r> 166
P
P
P
P
132
152
133
189
v 215
P 14Q
P in
145
114
127
138
137
P 143
p 134
r 125
v 122
r
99
100
128
94
10C
iifc
74
123
113
12£
16£
182
r 13$
P 126
P 128
13£
14€
11
11
11
109
HC
r 12()'
109
115
112
111
112
11C
Minerals
do
117
p 121
77
61
r 71
Coal
...do
58
62
77
63
57
7
68
7(
v 72
7 Ji
;
T
13
-n 1 AK
r
14
137
137
134
136
133
129
130
130
Crude oil and natural gas
do
13(
142
)
146
79
T 8
73
120
108
108
92
Metal mining
- do
79
100
98
79
5'
86
r
114
119
127
130
125
129
130
Stone and earth minerals
--do
129
126
12
115
IKi
123
r
Revised.
p Preliminary.
i Estimates based on anticipated capital expenditures of business; those for the 2d Quarter of 1955 appear on p. 8 of the March 1955 SURVEY.
{Revisions for 1952 for new plant and equipment appear on p. 10 of the March 1954 SURVEY; tho.se for 1953 appear on p. 8 of the March 1955 SURVEY. Revisions for 1952 and 1953 for farm
income and marketings are on p. 24 of the January 1955 SURVEY; for 1951, on p. 24 of the April 1954 SURVEY.
t Revised series. For a detailed description of the revision and monthly and annual data beginning 1947, see the December 1953 issue of the FEDERAL RESERVE BULLETIN.
(
SUKVEY OF CUEEENT BUSINESS
May 1955
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
S-3
1955
1954
March
April
May
June
July
August
^rH
October
uyr
Novem- December
ber
January
February
March
April
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION— Continued
Federal Reserve Index of Physical Volume 9— Con.
\djusted, combined index
..
_ 1947-49=100.-
123
123
126
136
106
148
121
138
124
163
125
135
108
147
122
139
124
170
124
134
103
147
122
141
125
173
125
135
105
148
124
144
125
181
126
137
105
149
122
147
125
189
125
124
123
123
124
128
130
132
133
135
P136
128
139
111
150
124
147
123
194
130
142
118
152
125
148
122
198
131
143
121
154
125
145
120
193
133
146
'127
156
125
145
124
187
134
147
131
157
126
146
125
187
136
'148
'135
'158
'128
'146
'126
'185
P137
P151
P139
P16C
x»131
pl4«
P13C
pl8f
126
Manufactures
_
Durable manufactures
Primary metals _
Metal fabricating (incl. ordnance)
Fabricated metal products
Machinery.
,
Nonelectrical machinery
Electrical machinery
do
do
do
. _ _ do _ _ _
do
-_do
do
__ do
125
135
103
147
120
138
125
163
125
134
103
147
119
138
125
163
Transportation equipment
_
Instruments and related products
Furniture and
fixtures
L/umber and products
Stone, clay, and glass products
Miscellaneous manufactures
do
-do
__ do
do
do
__ do...
173
144
104
116
130
130
174
139
103
114
128
127
178
138
102
120
130
128
170
135
104
108
129
131
170
136
106
96
131
130
166
135
109
97
132
133
167
137
109
116
134
132
169
137
110
128
132
132
175
138
108
124
136
132
187
140
108
131
135
131
194
141
109
129
136
132
'193
142
'109
' 127
'138
133
'196
144
'111
127
'141
136
pl9fl
*144
v \U
114
106
103
91
108
93
115
107
103
94
109
94
117
110
108
95
107
94
116
108
107
93
106
95
114
105
101
95
102
100
114
106
99
94
103
96
115
105
102
95
101
91
117
105
102
101
103
94
118
106
100
101
105
96
119
106
101
100
107
IOC
120
107
107
103
108
105
121
106
106
103
'106
104
' 123
108
p 12-4
131
119
146
122
113
133
120
146
124
113
137
120
148
125
119
136
121
148
124
120
133
121
148
122
97
135
121
149
121
98
137
121
150
125
117
138
121
150
124
125
137
120
152
127
136
121
155
129
'133
140
122
154
131
141
143
' 122
'157
134
' 138
112
62
137
96
124
109
58
137
78
120
111
65
134
91
121
114
69
136
99
122
112
70
133
91
125
109
68
130
83
121
108
67
129
82
121
109
70
130
81
121
11 9
69
136
86
195
116
73
'138
' 103
127
120
74
142
119
130
142
120
102
117
182
94
119
131
151
116
97
116
172
92
116
126
146
110
92
112
155
92
116
125
143
112
93
112
165
94
102
107
125
92
89
88
116
90
113
121
123
121
102
101
234
94
108
111
81
139
108
122
279
101
109
111
70
149
111
124
338
104
129
142
144
142
108
116
324
100
111
119
133
109
99
104
151
94
116
126
139
115
97
112
178
93
119
130
145
119
96
116
196
93
118
128
136
123
96
110
243
96
116
126
127
127
102
114
241
93
' 115
125
121
131
106
109
270
91
114
121
110
132
107
112
267
98
112
117
104
131
106
110
270
98
119
128
127
130
103
114
259
97
46.9
'46 ]
' 46 9
' 46 6
' 46 3
r 46 4
' 45 6
'47 6
'23.7
'11.2
' 12. 5
'23.2
' 11.1
'12.1
' 23.3
'11.3
r
12.1
'23.2
' 11.2
' 12.1
' 23. 1
' 10.9
'12.2
' 23.0
' 10.8
' 12 2
' 22 5
'10.3
' 12.2
'24.0
' 11.3
' 12.7
Nondurable manufactures
Food and beverage manufactures
Tobacco manufactures
.
Textile-mill products
Apparel and allied products. .
Leather and products
.
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber products. - Minerals
Coal .
Crude oil and natural gas
Metal mining
Stone and earth minerals
do
do
do. _ _
do
do
do
do
do
_- do
do
do
_
do
do
_.-do
do
do__
__
PH:
»13E
104
115
106
124
160
' 133
140
v 12;^
'122
72
146
v 121
v 71
p 14,c
126
123
79
' 145
115
123
132
149
174
130
109
108
258
94
142
163
195
137
108
124
260
95
151
'174
210
146
111
138
272
97
155
179
215
151
113
151
260
99
P154
p 171
p 22C
125
137
149
129
105
115
242
96
131
145
160
133
107
128
'225
98
135
151
172
135
107
'131
226
98
139
156
179
137
109
137
222
99
*14S
P165
pl9C
P14C
' 48. 7
' 48 7
' 48 9
50 8
'24.1
'11.6
' 12. 5
'24.3
' 11.9
' 12,4
' 24. 6
'12.0
' 12.6
26.0
12.8
13.1
192
r 109
P131
CONSUMER DURABLES OUTPUT
Unadjusted, total output*
Major consumer durables
Autos _ _
Major household goods
Furniture and floor coverings
Appliances and heaters
Radio and television sets
Other consumer durables
Adjusted, total output*
Major consumer durables
Autos
.Major household goods __.
1947-49=100
do
do
do
_do
do
do
do
__
_
\ppliances and heaters
Radio and television sets
Oilier consumer durables
do
do
do
do
do
do
do
Pl4l
p9i
p IOC
BUSINESS SALES AND INVENTORIES§
IVtanufacturing and trade sales (ad j ) total t
bil of dol
r
46.7
T
Manufacturing, total f
Durable-goods industries
Nondurable-goods industries
do
do
do
'23.6
'11. 3
Wholesale trade, total _
Durable-goods establishments
Nondurable-goods establishments
do
do
do
9.1
2.9
6.3
9.0
28
6.2
8.9
2. 8
6.1
9.1
2.9
6.2
9.1
3.0
6.1
9.1
2 9
6.1
9.2
29
63
9.0
28
6 2
9.3
2.9
6.3
9.5
3.0
6.5
9.5
3.1
6.4
9.5
3.1
6.4
9.7
32
6.5
Retail trade, total .. .
Durable-goods stores
Nondurable-goods stores
do
do
do
13.9
4.9
9.0
14.2
4.9
9.4
14.0
4.7
9.3
14.4
5.0
9.4
14.3
4.9
9.4
14.2
4 8
9.4
14.2
4 8
9.4
14.1
4 7
9.4
14.4
4.9
9.4
15.1
5. 3
9.8
14.9
5.1
9.7
14.8
5.2
9.6
15 1
55
9.6
"79.3
'78.8
'78.9
'78.7
' 77.6
' 77.3
' 77 0
' 76 9
'77.1
r
76.9
' 76 9
'77.3
77 5
do
do
do
'45.0
'25.6
'19.4
'44.5
'25.1
'19.4
'44.3
24.9
'19.4
'44.2
'24.6
' 19.6
'43.4
'24.0
'19.4
' 43. 1
'23.8
'19.2
'42.9
'23 7
'19.2
'43.2
'23 9
'19.3
'43.3
'24 0
'19.3
' 43.3
' 24. 0
'19.2
' 43. 2
' 24 0
'19.2
' 43.2
'24.0
19.2
43 3
24 0
19.3
__ ___ do
do
__do
11.8
5.8
6.0
11.6
5.7
5.9
11.8
5.8
6.0
11.9
5.8
6.1
11.8
5.8
6.0
11.8
5.8
5.9
11 7
5.8
59
11 7
5.9
59
11 7
5.9
5 9
11.5
5.7
5.8
11 5
5. 7
5.9
11 7
5.7
5.9
11 6
5.7
59
Manufacturing and trade inventories, book value, end
of month (adjusted), totalf
bil of dol
Manufacturing, total f
Durable-goods industries.
Nondurable-goods industries
Wholesale trade, total.
Durable-goods establishments
Nondurable-goods establishments
.
r
12.3
Rotail trade, total
.
do
22.7
22. 6
22 8
22 4
22 6
22 5
22 0
22 4
22 1
22 2
22 4
22 1
22 5
10.5
Durable-goods stores
_
_. do
10.4
10.5
10.4
10 3
10 2
10 3
10 1
10 2
10 2
10 0
10 0
10 4
Nondurable-goods stores
-.
do _ _ .
12.1
12.3
12.31
12.2
12.2
12.0
12.1
12.2
12.2
12.1
12.0
12.0
12^1
' Revised.
v Preliminary.
9 See note marked "t" on p. S-2.
*New series. Compiled by the Board of Governors of the Federal Reserve System. For description of the index and back figures, see the May 1954 FEDERAL RESERVE BULLETIN and subsequent issues.
§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 p. S-4; those for retail and wholesale trade, on pp. S-9 and S-10.
t Revised series. Effective witk this issue of the SURVEY, data for manufacturers' sales and inventories have been adjusted to new benchmarks; the revision affects data beginning 1951
(see pp. 20 ff. for figures prior to March 1954). Revised data for stages of fabrication and manufacturers' new and unfilled orders will appear in the June issue of the SURVEY.
SURVEY OF CURRENT BUSINESS
S-4
May 1955
1954
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
March
April
June
May
1955
October Novem- DecemAugust September
ber
ber
July
J
ary~
*%?'
Mareh
A
P ril
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Sales, value (unadjusted), total f
mil
Durable-goods industries, total
Primary metals
Fabricated metal products
Machinery (including electrical)
Traiisportation equipment (including
vehicles)
mil.
Lumber and furniture products
Stone, clay, and glass products
Other durable-goods industries
ofdol
do do
do
do___
motor
of dol, .
do
do - do
25, 033
12, 202
1 734
1,205
3,625
24 039
11 645
1 668
1 190
3 342
22. 666!
10', 993
1 639
1, 133
3,085
2,989
1,043
564
1,042
2 979
962'
2, 756
561
943
887
573
920
- ___do_-.
do
do
do
do___
___do-_ _
do
do
do - _
12, 831
4, 135
12 394
4 189
11, 673
4, 069
2,195
2 015
Sales, value (adjusted), totalf
_
do - Durable-goods industries, total . _ _ _ _ _ _ _ d o _ _ _
Primary metals
do _
Fabricated metal products
do
Machinerv (including electrical)
do
Transportation equipment (including motor
vehicles)
mil. of do!
Lumber and furniture products
__
__do
Stone, clav, and glass products
do
Other durable-goods industries
_
_
do__
23, 637
11,303
1,626
1 170
3,311
23 681
11 160
1 634
l' 190
3 198
2,749
940
542
965
2 751
Nondurable-goods industries, total _ _
Food and beverages
Tobacco products
Textile-mill products
Taper and allied products
Chemicals and allied products _
Petroleum and coal products
Rubber products
Other nondurable-goods industries
Xondurable-goods industries, total
Food and beverages
Tobacco products
Textile-mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber products
Other nondurable-goods industries
_
___ d o
do
do
do
do
do
do
do
do
Inventories, end of month :f
Book value (unadjusted), total
_ _ _ _ _ _ . do _
Durable-goods industries, total.. _ _
___do_ _.
Primary metals
_
do
Fabricated metal products
do
Machinery (including electrical)
do
Transportation equipment (including motor
vehicles)
mil. of dol
Lumber and furniture products
do
Stone, clay, and glass products
do
Other durable-goods industries
do
By stages of fabrication:
Purchased materials
bil. of dol
Goods in process
do
Finished goods
do
Nondurable-eoods industries, total
mil of dol
Food and beverages
do
Tobacco products
do
Textile-mill products
do
Paper and allied products
do
Chemicals and allied products
do
Petroleum and coal products
do
Rubber products
do
Other nondurable-goods industries
do
By stages of fabrication:
Purchased materials
bil. of dol
Goods of process
do
Finished goods
do
Inventories, end of month:f
Book value (adjusted), total
- ... mil. ofdol
Durable-goods industries, total
do
Primary metals
do
Fabricated metal products
do
Machinery (including electrical)
do
Transportation equipment (including motor
vehicles)
mil of dol
Lumber and furniture products
do
Stone clay, and glass products
do
Other durable-goods industries
do
By stages of fabrication:
Purchased materials
bil of dol
Goods in process
do
Finished goods
do
976
622
981
21 728
10, 191
1 421
1 1091
2,772
23 164 l
10 701 1
1 529
1 240
2 884
23 672
10, 952
1 614
1 223
3,138
23 638
10 689
1 646
1 216
3 065
2 575
2 459
1 002
625
962
2,205
1 091
652
1 029
2 053
1 000
1 069
1 000
12, 720
4 145
12, 949
4 234
12 603
4 068
839
576
899
640
691
088
683
103
993
24 164
11, 737
1 793
1,043
3,287
23 699
11 400
1 873
1 078
2 920
23 971
11, 796
1 898
1 090
3,134
2 728
3,213
955
530
916
3 166
944
498
921
3 239
1 009
505
921
12, 427
3,975
317
1,077
712
1,621
2,470
400
1,855
12 299
3 908
1 047
' 756
1 776
2 339
437
1 759
12, 175
3 799
268
1 004
731
1,737
2,238
418
1,980
13 686!
4 160
*316
1 1251
844 2,014'
2 365 i
25 980 !_ _ 12,839 -- -- _ - .
2 050
1 237^
3' 320
I
3 533'
1,059;-- .. 643'
997 --
23
11
1
1
2
987
594
27 566 i
13* 880
2 186
1*274
3 630'-j
3 906!-- 1 165
662 -1 057>
11,537
4 041
319
861
680
1, 493
2 103
377
1,663
12, 463
4 092
1,677
11,939
4 045
330
1 024
733
1,6101
2,128
404
1 665
2 113
2,179
2 314
372
2 098
23, 204
11,066
1,614
1,193
3,131
23 349
11,293
1 697
1 910
3' 197
23 209
11,153
1 634
1 205
3 151
23 113
10 907
1 569
1 181
3 037
23, 008
10, 832
1,662
1 154
3,081
22 489
10, 295
1 596
1 067
2 976
23 964
11 314
1 703
1 126
3 084
24, 097
11, 570
1,719
1 098
3,147
24 287
11 850
1 829
1 1°3
3 075
24, 649
12, 029
1,950
1 147
3,130
2,702
896
591
939
2 679
2 666
2 572
2,317
1,049
2 159
899
545
943
598
971
952
582
963
2 865
'997
962
3,061
985
596
964
3 221
1 026
586
990
3,197
1,051
574
980
12, 334
4,140
12 521
4 362
12, 138
4, 115
12 056
3 993
12 206
4 048
12, 176
3 979
12, 194
3 975
1,002
308
971
724
12, 527
3,991
299
1,046
742
1,764
2,287
417
1,981
12 437
3 993
298
1 068
741
1 740
2 293
424
1 880|
12, 620
4,029
298
1,035
754
1,787
2,307
440
1, 970
13 141 i
4 160
310
1 071
804
1 891
2 388
317
1,072
771
1,723
2,232
386
308
874
707
296
952
738
1,602
2,062
1 702
2 108
374
394
948
581
981
932
588
977
338
330
285
315
1 058
1 169
1 131
1 122
1, 626
2 122
1,717
2,101
1,707
2 140
1,677
2 VIS
751
363
992
584
972
736
343
764
374
733
077
--
__
2 326 1 --
1,016
1 024
1 063
1 010
1 624
2' 151
1,592
2,170
733
1 027
1,618
2,188
307
990
731
1 637
2 171
1 569
2 124
1 641
2 122
1 657
2,101
1 619
2,119
1,963
1 999
1,828
1 810
1,860
1 950
1,990
2 106
12 650
4 031
'315
1 100
733
1 761
2 240
404
2 066
523
331
140
682
686
44, 337
25,111
3,113
2,746
8, 590
44, 192
24, 756
3 057
2 80?
8 424
43, 483
24, 078
3,133
2 660
8, 192
42, 836
23, 670
3 148
2 537
8 052
42, 639
23, 462
3,151
2,507
7,910
42, 891
23, 676
3, 196
2 422
7,861
43 037
23, 694
3,246
2 393
7 852
43, 511
24, 047
3,345
2,391
7,820
43 503
24, 053
3 280 j
2 417
7,822
43, 477
24, 121
3, 229
2,420
7,844
43,472 24,207
3 160
2 486
7, 866
5 ? 902
1 723
'911
2 287
5, 742
1, 719
905
2,296
5 656
1 673
5,440
1 633
5, 338
1 586
2 264
2 159
2 173
5,362
1,566
827
2,139
5,702
1 587
813
2 095
5 699
1 617
817
2 070
5, 825
1,690
860
2,116
5,831
1 719
882
2 102
5,863
1,742
907
2,116
5, 880
1 773
912
2 130
19,226
4,368
1,793
2,474
996
2,929
2 757
838
3,071
19 436
4,412
1 762
2 466
19 405
4,467
1,773
2,433
19 166
4, 460
1 759
2,373
19, 177
4,502
1,797
2, 352
2 961
2 767
2, 952
2 791
779 i
3,236
988
2,928
2 826
785
2,929
19 343
4,735
1 880
2,292
1,001
2 969
2 786
795
2 885
19, 464
4,730
1,919
2,32"
1,014
3,082
2, 669
821
2,902
19 450
4,697
1 963
2,330 1
1,028 I
3,049
2 581
806 i
2,996 i
19, 356
4,543
1,934
2, 380
1, 055
3,045
2, 590
806
3, 003
19,265
4,430-- _
1,907
2,394-1,050 _ _ - .
3, 061
2 608
3 230
2 910
2 815
732
3, 155
973
2,886
2 821
759
3,087
19 215
4,588
1,872
2,299
3 017
19 192
4*409
1 841
2 439
1 002
2 963
2 678
'846
3 014
44, 995
25, 577
3 378
2, 699 '
8 696
44, 495
25 145 i
3 276
2 629
8 533
44, 335
24, 908
3,208
2, 640
8,472
44, 185
24 617
3 151
2, 694
8 326
43, 431
24,011
3 145
2, 583
8,193
43, 059
23, 836
3 126
2, 563
8 138
42, 908
23, 709
3,068
2, 585
8,057
43, 168
23, 916
3 095
2,523
7 973
43, 270
23, 959
3 127
2,493
7,978
43,26
24, 023
3,23
2,44
7,88
43, 19C
23. 984
3, 23£
2,417
7,804 i
43,305
24, 052
3, 283
2, 461 . _ _ _ . .
1\ 757 "
5 978
1,718
5 841
1 740!
5. 71 4
1,736 :
887
2, 251
5 643
1. 690
5,431
1,617
5 391
1,570
5,419
1,566
2,181
2,195
2,161
5,728
1,603
856
2,138
5 772
1,617
860
2,112
5,78
1,69
86
2,13
5,83?
1, 7K
86£
2,101:
43, 256
24, 028
3, 262
2, 420 i
7, 794
j
5, 861 i
1, 724
872
2, 095
568
699
855
418
19 42C :
4. 592
1 88 (
2,385 ;
19, 199
4, 409
1,834
2,352
2 934
2, 795
2,946 i
2, 763 !
19 223 ;
4, 439
1 871i
2,373 i
972
2, 949 i1
2, 760
19, 252
4,415
1 8531
2,322
1 008 i
3, 006
2 744 !
835
3, 069
19 311
4, 529
1 861
2, 339
1 Oil
3 006
2, 731
811 i
3, 023
19, 24
4,53
1,84
2,39
1,00
3,01
2,64
82
2,98
19,212 i
4, 558
1 , 85^
2, 354 !:
1.02S
3, 02C
2, 634
79( :
2,97f
19. 228
4, 496 !
1, 842
2, 38C '1
1, 034
3,019 1
2,670 i
782
3, 002
19,253
4, 478 - - - - - _
l,85li
2,394! - -. .-1,035:
3,020!
2,688!
311
734
378
45, 150
25, 756
3, 255
2 726
8,818
6, 043
1 735
910
2 269
19 394
4,548
1 866
2,461
1 008
2 992
9 641
861
883
2, 225
318
721
389
44
25
3
2
8
884
378
i
2 242 j
19 418
19 350
Vondurable-goods industries total
mil of dol
4,615
4 601
Food and beverages
do
1 812
1 823
Tobacco products
do
Textile-mill products
do
2 461
2 415
99?
988
Paper and allied products
do
2 952
2 939
Chemicals and allied products
do
2,723
2, 733
Petroleum and coal products
do
844
813
Rubber products
do
3, 034
3,023
Other nondurable-goods industries
do _ _
By stages of fabrication:
Purchased materials
bil of dol
Goods in process
do
Finished goods,
- do
rRevised.
fRevised series. See corresponding note on p. S-3.
23 644
11, 705:
1 722
1 292
3,319
I
2,863
19 427
4, 645 1
1 83( !
2,425 I
99ft
2 930
2, 785 !
798
3,018
303
385
880
997
841
871
2,242
19
4
1
2
997
817
3,053
12, 056
4 082
393
861
974
861
984
787
3,077 i
322
744
352
836
962
853
754
3, 105
311
729
346
853
983
2, 948
2, 739
799 i
3,135 1
291
728
346
1
2 077 1
- -
2,999;
5, 823
1, 755 _ _
885
2, 088
3,005 ! :._
- _
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
S-5
li 54
April
May
June
July
If 55
August
Septem- October Novem- December
ber
ber
January
February
March
April
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
New orders, net (unadjusted), totalf
mil. of dol_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. ofdolOther durable-goods industries
_ - - _ do__Nondurable-goods industries, total
Industries with unfilled orders 9
Industries without unfilled orders f
_ _ _ do
do. .
_ do_ -
New orders, net (adjusted), totalf
- - - --- 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. ofdol-Other durable-goods industries
do
Nondurable-goods industries, total Industries with unfilled orders 9
Industries without unfilled orders t
- _ _ do. _
- - do_
, _ _ _do_ -
Unfilled orders, end of month (unadj.), totalf. ---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- _ _ _ doNondurable-goods industries, total 9
_
-. do
BUSINESS INCORPORATIONS^
New incorporations (48 States)
number..
10,514
10, 272
9,280
9,748
9,409
9,041
9,256
9, 852
9,735
11,981
13, 181
11,369
13,417
1,102
87
143
198
551
123
975
66
92
200
535
82
943
81
111
200
460
91
965
81
132
208
455
89
856
80
95
165
417
99
912
80
100
187
451
94
819
59
88
153
406
113
871
68
109
189
414
91
933
68
110
179
490
86
917
72
130
204
413
98
939
87
87
195
456
114
877
60
113
188
412
104
1 038
66
108
225
520
119
903
66
106
154
484
93
57, 280
3,506
7,255
15, 359
26, 043
5,117
42, 512
1,648
3, 692
20, 568
12, 030
4,574
38, 494
2,961
3,674
15,621
11,739
4,499
41,613
2,045
4, 514
18 454
11,722
4 878
32, 230
2, 524
4,958
9 986
9,622
5 140
32, 582
2 381
2,386
12 388
11,225
4 202
36, 381
2 290
5 584
11 262
11 879
5 366
29, 000
1 952
4 733
7 547
11 845
2 923
35, 067
4 065
6 859
8 099
10 466
5 578
40, 103
1 857
5 926
17 526
8 509
6 285
37, 872
3 154
9 044
11 636
9 647
4 391
42, 056
2 244
7 624
18 922
8 928
4 333
41,209
2 916
4 468
16 921
11 972
4 932
35, 968
2 229
6 450
12 653
10 765
3 871
INDUSTRIAL AND COMMERCIAL FAILUREScf
Failures total
Commercial service
Construction
Manufacturing and mining
Retail trade
Wholesale trade
Liabilities (current), total
Commercial service
Construction
IVIanufacturing and mining
Retail trade
Wholesale trade
numberdo
do
do __
do
- do _ _
thous. of doL_
do
do _ _
do
- -- do _ do
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
Prices received, all farm products§
Crops
Food grains
_
Feed grains and hay
Tobacco
Cotton
._ _
Fruit
Commercial vegetables, fresh market
Oil-bearing crops
Livestock and products
Meat animals
Dairy products
Poultry and eggs
1910-14=100..
256
257
258
248
247
251
246
242
244
239
244
245
244
247
do
_ do
do
do
239
238
208
240
249
248
250
216
205
445
225
202
446
228
207
430
243
233
210
444
244
241
235
204
441
248
245
245
443
227
207
446
247
950
234
208
443
244
239
199
438
239
202
430
241
204
425
240
203
436
239
198
437
236
197
437
263
212
267
217
272
215
274
240
272
228
288
235
292
248
246
275
225
283
293
218
279
286
243
286
281
206
276
207
223
294
2759
22
170
276
268
210
269
205
222
200
283
191
275
237
277
216
279
263
274
258
270
274
264
264
261
271
316
257
188
271
333
237
178
267
331
230
168
251
299
229
168
247
286
237
171
251
287
245
178
245
277
253
162
242
267
263
153
243
266
266
159
237
257
264
156
240
263
258
163
244
264
253
190
243
260
249
199
242
269
940
185
264
255
265
273
256
267
276
256
265
276
252
263
277
247
264
277
250
263
273
251
262
273
250
262
272
251
261
272
250
264
973
954
264
271
256
265
272
256
°65
974
254
283
••282
284
282
280
282
280
279
279
279
283 i
283
-00
284
9
do__do
do
do
do
~ do
do
do
Prices paid:
All commodities and services do
Family living items
do
Production items
_ _ do_._
All commodities and services, interest, taxes, and
wage rates!
1910-14=100
••273
84
91
89
91
88
90
88
Parity ratio®!
do
88
87
86
87
87
86
86
87
T
Revised.
f See corresponding note on p. S-3.
9 Includes textiles, leather, paper, and printing and publishing industries; unfilled orders for other nondurable-goods industries are
zero.
^ For these industries (food, beverages, tobacco, apparel, petroleum, chemicals, and rubber), sales are considered equal to new orders.
cfData are from Dun and Bradstreet, Inc.
§ Revised beginning 1910 to incorporate revisions in the component price series and to reflect changes in the basic weights; revised annual data for 1910-53 for prices received appear on p. 23 of
the April 1954 SURVEY. \ Revisions for 1937-53 for prices paid and 1910-53 for parity ratio appear on p. 24 of the April 1954 SURVEY. 0 Ratio of prices received to prices paid (including
interest, taxes, and wage rates).
SUEVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
May 1955
1955
1954
March
April
May
i
| June
July
DecemAugust SeptemOctober November
ber
ber
January
February
March
April
COMMODITY PRICES—Continued
RETAIL PRICES
All commodities (U. S. Department of Commerce
index)
1935-39= 100. _
Consumer price index (U. S. Department of Labor):
All items
.
1947-49= 100. _
Apparel
do
Food
do
Dairy products
do _
Fruits and vegetables
.
do
Meats, poultry and
fish
do
Housing
_ _ _do
Gas and electricity
do
Housefurnishings
do _ _
Rent
_
. -do
Medical care
do
Personal care
do
Reading and recreation
do _
Transportation
_do
Other goods and services
do
WHOLESALE PRICESd1
U.S. Department of Labor indexes:
All commodities
1947-49=100. _
Farm products
do
Fruits and vegetables, fresh and dried
do
Grains
-do
Livestock and live poultry
do
Foods processed
do
Cereal and bakery products
do _
Dairy products and ice cream
do
Fruits and vegetables, canned and frozen.. do
Meats poultry and
fish
_
do
Commodities other than farm products and
foods.
1947-49 = 100-.
Chemicals and allied products
do _ _
Chemicals, Industrial
_
. ..do
Drugs and Pharmaceuticals 9
do
Fats and oils inedible
do __
Fertilizer materials
..do
Prepared paint
do
Fuel, power, and lighting materials
.do
Coal
do
Electricity
do
Gas
_
do_-_
Petroleum and products
_ do _
Furniture, other household durables
do
Appliances, household
do
Furniture, household
-- do
Radio receivers
do
Television receivers
--~ do
Hides skins and leather products
do
Footwear
_do
Hides and skins
do
Leather
do
Lumber and wood products
do
Lumber
do
Machinery and motive products . .. _ ..do _ _ _
Agricultural machinery and equip
do
Construction machinery and equip
do
Electrical machinery and equipmen t
do
Motor vehicles
do
Metals and metal products
do
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
do
Paper
- - do
Rubber and products
do
Tires and tubes
do
Textile products and apparel
do _
Apparel. _. _ _.
do
Cotton products
do
Silk products
-do _.
Synthetic textiles
do
Wool products
- - do
Tobacco mfrs. and bottled beverages
-.do
Beverages, alcoholic
do
Cigarettes
__
- - do
Miscellaneous.
do
Toys, sporting goods
do
PURCHASING POWER OF THE DOLLAR
As measured byWholesale prices
. . 1947-49=100
Consumer prices.
do
Retail food prices
do
208.3
208.7
209.0
209.7
209.0
208.2
207.6
207.6
207.6
207.3
124 4
114.1
108 2
129.0
120 1
114.6
104.1
112.4
104.6
110.0
110.5
118.5
107.6
106.1
128.2
124.9
112.9
106.5
129.1
120.2
115. 0
104. 2
113.3
103.5
114.6
111.0
118.9
107.7
105.9
128.3
125.1
113.0
106.4
129.1
120.1
115.1
104.2
113 8
102.9
117.1
111.1
118.9
107 6
105.8
128.3
125.1
112.7
106. 4
128.9
120 1
115.2
104.0
114.6
104.3
120.1
109.7
119.0
107.8
105.7
128.5
125.2
113.3
107.0
126. 7
120.3
115.0
103.7
113.9
105. 1
114.7
107 6
119.2
107 8
105. 4
128.6
125.5
113.4
106. 6
126.6
120 2
114.7
104.3
112 4
105. 8
110.5
106. 7
119.5
107.9
106.0
128.8
125. 7
113.5
106.5
126.4
120. 1
114.5
104 6
111 8
106 7
111. 1
103 9
119.5
108 5
105 6
129 0
125 9
113 4
106 9
125 0
120 1
114.6
104 6
111 1
106 6
109.6
103 5
119 5
108 7
105 4
129 2
126 1
113 8
106 8
127 6
120 0
114.3
104.3
110 4
106 8
108.4
102 2
119 7
109 1
105 4
129 4
126 3
113 6
106 6
127 3
119 9
110.5
98 4
89 6
93.0
92.4
105.3
112.6
106.1
103.0
92.8
111.0
99.4
97.4
92.9
94.9
105.9
113.2
103.0
103.3
94.3
110.9
97.9
104.4
91.2
93.0
106.8
113.3
101.7
104.5
98.3
110.0
94 8
96.6
86.5
87.7
105.0
113.5
102.4
104.7
92.3
110 4
96 2
110 9
88 1
83.2
106 5
114 0
105 1
104.7
94 1
110.5
95 8
108 3
91.2
83.4
106 4
113.2
105.9
104.8
92.0
110.0
93 6
99 8
93.6
80.7
105 5
113.8
106.6
105.0
92.0
109.7
93 1
101 9
92.9
77.5
103 7
114 5
108.7
105.5
85.8
110 0
93 2
103 2
93 5
76.4
103 8
116 5
108 8
105.5
86 3
114.2
107.4
117.9
93.9
60.5
114.0
112.8
109.2
107.9
102.9
111.5
111.5
115.0
109 5
113.7
95 7
73.8
94 7
111 9
56.0
86 3
116 7
115 6
124.5
122 3
131.7
126.8
118 9
126.3
114.4
130.6
121 2
. 121.0
132.0
117 3
122.1
116.6
126.8
124.9
130 3
95 0
98.6
88 5
135.1
84 9
109 3
117.9
114 6
124.0
104.9
113.0
114.5
107.2
117.4
94.0
59.8
114.1
112.8
108.6
104.1
101.8
112.3
112.1
115.6
109.9
113.6
95.7
73.8
94.6
111.9
56.5
86.0
116.2
115.3
124.4
122.3
131.6
126.5
118.9
126.8
114.5
131.1
123.4
120.8
132.0
117.3
122.1
116.3
126.8
125.0
129.3
94.7
98.2
88.5
132.3
84.6
109.2
121.5
114.6
124.0
110.3
113.6
114.5
107.1
117.3
94.0
59.3
114.0
112.8
108.2
104.6
101.8
109.0
111.7
115.5
109.9
113.5
95.7
73.8
96.0
111.9
62.5
87.6
116.1
115.0
124.4
122.6
131.5
126.0
118.9
127.1
113.9
131.8
123 6
119.3
132.0
117.3
122.1
115.8
126.5
125.1
129 3
94.8
98.2
88.3
131.6
85 2
109.5
121.4
114.3
124.0
109.2
113.6
114.2
106.8
117.0
94.0
55.7
111.6
112.8
107.8
104 7
101.8
107.8
110.9
115.4
109 8
113.1
95 6
70.6
95 6
111 9
60.6
87 4
116 3
115 5
124.3
122 3
131. 5
125. 9
118 9
127.1
113.8
131 8
123 7
119.1
132.0
117 5
122. 1
115.8
126 5
126.1
129 3
94 9
98.1
88 4
123 9
85 6
110 1
121.4
114 2
124.0
105.1
113.6
114.3
106 7
117.1
94 0
52 0
112 1
112 8
106 2
104 9
101 8
105.4
108 2
115. 3
109 7
112 8
95 6
70 3
94 9
111 8
58.2
86 5
119 1
118 6
124.3
122.3
131.5
125.8
118.9
128.0
114.0
133.6
124 2
120.4
132.0
117 7
122.1
116.2
126.5
126.8
129 3
95.1
98.4
88 9
124.2
85 7
109 8
121.4
114 2
124.0
103.9
113.5
114.4
106.8
117.4
94 0
53.5
112.1
112.8
106.9
105 2
102.4
105.4
109.3
115.3
109 7
112.9
95 4
68.5
94 0
111.8
55.8
84.4
119.1
118.7
124.3
122.1
131.5
125.7
118.9
128.6
114. 1
133. 8
125. 1
120.5
132.3
117.9
122.1
116.3
126.5
126.4
129.6
95.3
98.6
89 1
126.3
85 7
110.3
121.5
114.3
124.0
102.3
113.4
114.4
106.8
117.4
94.0
54.0
112.3
112.8
106.9
105.5
101.2
106.0
109.4
115.3
109 4
112.8
95 4
68 7
93 0
111 8
51.5
82.9
119.3
119.0
124.4
121.9
131.6
125.6
118.9
129.1
114. 1
134.1
126.2
121.7
135.4
117.8
122.1
116.3
126.5
126.9
129 6
95.3
98.6
89.2
128.4
85.8
109.6
121.5
114.3
124.0
99.1
112.7
114.5
106 9
117.6
93 6
56 5
112.1
112 8
106.9
105 1
101 8
105.8
109.3
115.6
109 5
112.8
95 4
68.7
92 4
111 8
49.5
82 1
119 8
119.5
124.3
122.0
131.6
125.2
118.6
129.7
114.3
135.0
127 4
121.9
135.4
117 8
122.1
116.3
126.5
128.5
129 6
95.4
98.6
89 9
127.0
86 1
108 4
121.5
114 3
124 0
96.7
112.7
90.5
87.1
89 2
90. 1
87.3
89 0
90.2
87.0
88 3
90.9
86.9
87 9
90 6
86.8
87 3
90 5
87.0
87 8
90.9
87.2
89 0
91.2
87.3
89 4
114.8
104.3
112 1
108 0
107.8
109 5
119 0
107 6
107 2
128.0
208.1
r
207 5
207.5
114.3
103.3
110 P
106 4
110.6
102 4
119.6
109 4
104.6
129.5
126 5
113.7
106 9
127.6
119 9
114.3
103 4
110 8
106 1
110 7
102 5
119 6
109 9
104 8
129*7
126 8
113 5
106*4
127 4
119 8
U14.3
103 2
110 8
105 4
112 0
102 3
119 6
110 3
104 6
130 0
127 0
113 5
106 6
127 3
119 8
109 5
89 9
96 9
92 5
74.0
103 5
116 8
108 2
106.0
85 2
110 1
92 5
105 2
93 5
79.4
103 8
116 9
107.0
104.6
87 6
110 4
Q3 i
103 8
93 1
80.7
103 2
116 3
107 2
104.4
86 9
110 0
92 1
104 4
92 2
79.9
101 6
116 5
107 2
' 104. 8
83 3
110 5
94 2
120 9
91 0
84.0
102 5
116 8
106 9
104.5
86 0
114.8
107 0
117.7
93 6
57 8
112.2
112 8
107 4
105 1
103 0
107.3
109 5
115.6
109 1
112.9
95 4
69.2
92 8
111.7
52.7
82 0
119 9
119.6
125.3
121.3
131.8
126.7
121. 0
129.9
114.3
135.5
127.2
121.8
135.4
117.4
122.1
116.0
126.5
131.4
134 9
95 2
98.4
89 9
127.4
86 9
106 6
121.4
114 3
124 0
97.0
112.8
114.9
107 0
117.4
93 6
59 3
113.3
112 8
107 5
105 2
100 7
110.2
110 4
115.7
109 4
112.9
95 4
69.2
91 8
111.6
47.4
81.5
120.0
119.8
125.7
121.2
132.6
126.8
121. 7
129.8
114.3
135.0
127 6
121. 8
135.4
117.4
122.1
115.9
126.9
132.0
134 9
95 2
98.4
89 9
123 9
87 2
106 7
121.4
114 3
124 0
98.0
112.9
115.2
107. 1
117.3
93 6
61.8
113.6
112 8
108.5
105 2
100. 7
113.0
111.7
115.5
108 7
112. 5
95 4
69 0
91 9
111 6
49.5
81 2
120 3
120 0
125.8
121.5
133.2
126.8
121.7
130.1
113.9
135.8
127 9
122.0
135 8
116 7
122 1
116.3
127 5
136.8
139 9
95 2
98 2
90 2
124 1
87 3
106 6
121 4
114 3
124 0
97 0
113.2
115.7
107 1
117 4
93 3
61 0
113 5
113 1
108 7
105 2
100 1
116 3
111 7
115.4
108 5
112 6
94 7
68 8
92 3
111 5
51 6
82 2
121 2
121 4
126.1
121 6
133.8
126.7
121 5
131.5
113.7
135 8
133 7
121 8
136 1
117 0
122 1
116.6
128 0
140.6
142 4
95 2
98 2
90 6
122 4
86 7
106 3
121 6
114 6
124 0
97 1
113.1
115.6
106 8
117 5
93 1
f
55 4
113.6
114 0
r
108 5
105
1
r
99 5
p
116. 6
111 7
115.1
r
107 2
112 7 I
94 7
68 8
92 2
111 5
50.7
82 1
T
121 4
r
121. 8
r
126. 1
r
121.5
r
133. 8
r
126. 4
121.5
131.9
113.6
136 2
134 3
121 9
r
136. 5
118 2
122 1
116.8
128 0
138. 0
142 3
95 3
r
98 3
90 8
121 1
r
87 5
106 1
121 6
114 7
124 0
95 6
113.2
115.7
107 1
118 0
93 2
55 2
113.5
114 8
108 2
102 2
99 5
116.6
111 5
115.1
107 3
112 8
94 7
68 8
93 2
111 5
56.9
83 6
122 2
122 7
126.2
121.5
134.1
126.4
121.7
132.8
113.6
136 3
138 2
122 2
136 8
118 2
122 1
117.4
128 0
138.3
142 3
95 1
98 2
90 4
122 8
87 2
106 0
121 6
114 7
124 0
94 0
113.2
90 9
87.3
90 0
91 3
87 5
90 6
90 8
87 5
90 4
90 6
87*5
90 3
90 9
2
87 5
2 90 3
2 90 5
r
r
2
Revised.
1 Index based on 1935-39=100 is 191.1.
Indexes based on 1935-39=100 are as follows: Measured by—wholesale prices, 47.4 (April); consumer prices, 52.3 (March); retail
food, 44.7 (March).
cf For actual wholesale prices of individual commodities, see respective commodities.
$ Effective with the January 1955 index, cosmetics and related products were
transferred
from drugs, etc., to the "other chemicals" subgroup.
SURVEY OF CURRENT BUSINESS
May 105!
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
S-7
1954
April
May
June
July
1955
August
Septem- October |No v e m- Decemb e r
ber
ber
January
February
March
April
CONSTRUCTION AND REAL ESTATE
1
CONSTRUCTION ACTIVITY
New construction (unadjusted), total! ___ mil. of doL.
2,567
2,813
3,114
3,364
3, 522
3. 637
3.614
3,479
3,285
2,98
2., 787
2,644
' 2, 934
3. 225
Private, total
_ .
do
Residential (nonfarm)
do
New dwelling units
do
Additions and alterations
do
Nonresidential building, except farm and public
utility, total
mil. of dol
Industrial _ - _ ._.
do
Commercial
do
Farm construction..
do
Public utility
do
Public, total
.
do Nonresidential building
...
do
Military facilities
_.
do
Highway
. ... ...
do...
Other types
do
New construction (seasonally adjusted), total 9
mil. of dol- .
Private, total
. . . . . . . . do . .
Residential (nonfarm)
do
Nonresidential building, except farm and public
utility
mil. of dol
Farm construction
. _ . . . . _ _ . . . do ..
Public utility
do
Public, total
do.Nonresidential buildins"
do
Highway
do
1,779
863
770
71
1,927
2,122
1,107
96
111
2,392
1,267
1,125
113
2, 459
1,313
1. 17o
110
2,457
1,326
1,195
106
2,410
1,321
1 195
102
2,347
1,292
1 175
95
2,20
1.21
I 11
77
2 061
1 111
1 020
70
1 986
1 034
950
63
r 2 173
970
2,278
1,193
1, 050
114
2 33©
1 294
1 176
96
469
173
15<
114
326
788
365
75
160
188
464
169
151
127
348
886
377
79
230
200
490
165
167
145
37!
992
387
78
320
207
528
549
164
189
157
389
161
203
164
400
552
160
207
167
415
551
160
207
153
415
541
163
197
126
410
551
634
541
1,086
1,130
1,178
1,157
1,069
559
186
208
105
328
r
761
340
3,005
2,011
989
3,027
2, 059
1,040
3,089
2,131
1,105
3,078
2,122
1,102
3,094
2,173
1,150
3, 145
2,219
1,192
133
36b
968
37(
293
518
132
367
958
375
297
513
131
367
956
377
292
517
129
367
921
364
292
65, 521
1,692
65, 641
1,925
59, 741
1,733
60, 996
1,837
514
134
366
994
387
300
980
860
.
512
397
89
385
215
409
89
415
217
r i 167
r 1 070
r7b
378
96
390
205
169
200
106
386
938
358
90
300
190
17
186
93
349
783
339
83
185
176
185
188
93
302
726
330
82
145
169
548
187
198
9
294
658
30
78
12
15
3,157
2,234
1,214
3,105
2.221
1 210
3,192
2,259
1,228
3,262
2,292
1 262
3. 379
2 398
1 323
3,426
2 433
1 32t
521
128
367
926
373
288
515
127
367
923
365
299
506
126
367
884
352
274
526
125
368
933
376
288
524
124
368
970
38Q
305
665
124
368
981
375
302
600
124
368
993
362
329
61, 612
1, 573 i
65, 832
1,816
67, 701
1,965
54, 671
1,499
62, 394
1.829
% ^85
1,504
75 533
2 135
677
1 458
423
93
440
222
403
96
445
213
r 83
r
16,
173
' 3, 431
r 2 448
r \ 320
616
123
368
r 983
362
321
564
185
213
117
350
886
363
87
245
191
3, 470
2 4929
1 36
624'
123
369
978
363
314
CONTRACT AWARDS
Construction contracts awarded in 37 States (F. W.
Dodge Corp.):
Total projects
number.
Total valuation
mil. of dol..
Public ownership.
do
Private ownership
__
. do
Nonresidential buildings;
Projects
number
Floor area
thous. of sq ft
Valuation
thous. of dol
Residential buildings:
Projects
number
Floor area
thous. of SQ ft
Valuation
thous of dol
Public works:
Projects
number
Valuation
thous. of doL
Utilities:
Projects
number
Valuation
thous of dol
Value of contract awards (F. R. indexes):
Total unadjusted
1947-49 ~ 100
Residential unadjusted
do
Total adjusted
do
Residential adjusted
do
Engineering construction:
Contract awards (ENR)§
... ... mil. ofdoL.
Highway concrete pavement contract awards:©
Total
thous of sq yd
Airports
do
Roads
do
Streets and alleys
do
NEW DWELLING UNITS
( U. S. Department of Labor')
New permanent nonfarm dwelling units started:
Unadjusted :
Total, privately and publicly owned.. .thousands..
Privately owned, total
do
In metropolitan areas
. . _ do
Publicly owned
.. .
do
Seasonally adjusted at annual rate. -9
Privately owned, total
do
Residential construction authorized (nonfarm; housekeeping units only), all permit-issuing places :f
New dwelling units total
thousands
Privately financed, total
do
Units in 1-familv structures
do
Units in 2-family structures
do
Units in multifamily structures
do
Publicly financed, total
do
55, 659
1, 528
48^
477
66£
625
681
50€
1 21?
1 024
58 45(
1,581
472
1 109
4,302
38, 559
491,090
5 OP
51 396
701 427
4,227
42. 768
564. 788
4,284
41,861
534, 463
5,729
51, 925
758, 870
59, 900
85,814
851,824
48, 656
71, 778
708, 691
55 407
77 300
761 577
50. 090
70. 031
690. 355
52, 583
74, 545
744, 102
67, 539
98, 806
989, 730
2,357
293, 285
1,988
342, 592
1,317
204, 595
1 514
272, 910
979
J 73. 657
1,234
247, 763
1,803
273, 315
383
589
633
1,04;
1,215
1, 256
1,108
1, 156
1,064
4,936
41, 561
532, 060
5, 406
45, 971
605, 427
5,647
51, 913
672, 288
5, 36"
49, 014
656, 445
5,744
48, 877
641, 513
5, 251
42, 549
550, 550
5,090
45, 303
646, 825
5, 321
50, 258
670, 934
48, 718
69, 63]
667, 737
57, 531
80, 422
796, 133
57, 019
84, 946
825, 300
51,414
73, 138
720, 266
51, 988
74, 756
745, 440
53, 403
70, 591
692, 736
57, 928
78, 99i
777, 332
1,623
209, 986
2,040
219, 400
2,427
324, 032
2,458
287, 104
2,693
351, 895
2,442
262, 682
1,227
1 , 332
475
617
1,024
480
117, 734
544
548
502
516
103, 633
69, 449
571
70, 908
98, 087
66, 897
457
98,790
99, 989
94, 474
92 923
75. 650
355
54. 815
462
112,90^
194
216
191
205
225
251
196
213
234
257
193
216
240
251
207
227
225
236
206
233
289
243
218
244
234
254
231
253
231
256
241
263
232
254
255
264
211
237
259
277
215
241
261
288
228
266
261
297
264
307
260
291
934
1,439
1,437
1, 161
1, 575
1,271
1,479
996
1.215
1,373
1,295
1,085
1,987
6,075
1,078
2,649
2,347
7,791
1,211
4,005
2,575
6,255
1,480
1,820
2,954
10, 472
2,141
4,504
3,826
7,624
1,379
3,437
2,808
8,391
1,711
3,408
3,272
7,821
1,206
4,301
2,314
8,376
582
5,485
2,309
5,076
1,500
1,919
1,657
8 691
2,698
3 639
i 2 354
'7,134
«• 2, 600
2, 769
1,765
7,289
2,134
3,635
1,520
9,504
2,021
3,988
3,495
95.2
93.2
69.2
107.7
106.5
78.4
108.5
107.4
76.1
116.5
112.6
83.9
1.1
3.9
114.3
113.0
81.4
1.2
116.0
112.9
84.6
115.7
113.4
80.6
110.7
110. 5
80.2
103.6
103.3
75.4
90.6
89 9
69.0
90.0
88.6
63.4
1.4
117.0
116.1
84.7
.9
127, 0
126. 5
92.8
.&
1,130.0
1, 102. 0
1, 083. 0
1,175.0
1, 188. 0
1,211.0
1 , 248. 0
1, 287. 0
1, 393. 0
1,478 0
1, 381. 0 1, 407. 0
1, 309. 0
95.0
93.0
79.0
100.2
99.1
88.2
92.3
91.3
81.5
108.1
104.2
93.0
98.1
96.2
85.1
99.8
98.2
88.3
97.3
95.9
86. 7
94.3
94.1
84.2
77 4
76 0
66 3
6. 4
2.7
7.2
.2
88.0
87.7
77.8
382
2.0
3.4
10.6
2.0
3.2
7.7
1.1
2.9
6.8
1.0
3.0
8.2
3. 9
3.1
3.1
8.1
1.8
1.3
2.9
7.0
1.7
2.3
2.8
1.5
492
o
396
.3
2.7
7.1
.3
450
1
1
2.9
6 8
1 4
' 87. 6
' 87.3
'67.8
' .3
r
1,419.0
76.3
75.9|
67.3
2.1
6.5
.3
1,449
78.8
76.8
67.9
2.5
6.3
2.1
CONSTRUCTION COST INDEXES
121.2
121.0
123.4
121.3
121.7
122.7
123.4
122.6
122. 7
123, 1
123.0
123.0
Department of Commerce composite t
1947-49=100.123.6
393
393
395
Aberthaw (industrial building)
1914=100
396
396
American Appraisal Co., The:
594
585
591
586
586
589
595
597
598
598
599
598
Average 30 cities
1913=100
600
601
641
642
639
639
649
639
640
649
649
649
649
649
Atlanta
- do
650
650
624
624
625
623
624
623!
629
629
629
629
629
629
New York _.
..do
630
628
530!
530
529
539
530
530
539
545
545
545
545
550
San Francisco
.
do
551
553
579
577
595
594
596
577
596
599
598
599
599
St. Louis .
do ...
600
601
60 J
422
420
422
424
430
429)
431
432
432 1
432'
432
Associated General Contractors (all types)
do
432
432
434
r
Revised.
p Preliminary.
i Data includes some contracts awarded in prior months but not reported.
{Revisions for new construction (unadjusted) for 1950-1953 appear on p. 24 of the September 1954 SURVEY. Minor revisions back to 1915 for the Department of Commerce construction
cost index are shown in the May 1953 and May 1954 issues of the Construction and Building Materials Statistical Supplement.
9 Adjusted data not shown in SURVEY prior to the October 1954 issue.
§ Data for April, July, September, and December 1954 and March 1955 are for 5 weeks; other months, 4 weeks.
GData for March, June, August, and December 1954 and March 1955 are for 5 weeks; other months, 4 weeks.
fRevised
series. These data cover nonfarm residential construction authorized in all places (both urban and rural) that require building permits: they replace the former urban-building
series which covered new dwelling units authorized in all places denned as urban in the 1940 Census.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
March | April | May
1955
1954
June
July
December
October
August
January
February
March
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES— Continued
E. H. Boeckh and Associates:!
Average, 20 cities:
Apartments, hotels, and office buildings:
Brick and concrete
U 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:^
Building
1947-49 = 100._
Construction
_ ._ _
__
do_ _
Bu. of Public Roads— Highway construction:
Composite standard mile
1946 — 100.
CONSTRUCTION MATERIALS
Output of selected construction materials, indexrf
Iron and steel products
1947-49= 100__
Lumber and wood products
do
REAL ESTATE
Home mortgages insured or guaranteed by—
Fed Hous Adm • Face amount
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.
All other purposes
do
New nonfarm mortgages recorded ($20,000 and under),
estimated total
mil. of dol _
Nonfarm foreclosures*
number
Fire losses
thous. of dol__
254 0
250.7
253.7
254 2
250 2
252.8
255 7
251 3
253.9
256 1
251 5
254.7
257 3
252.8
256.2
257 9
253 3
256 3
258 3
253 7
256 5
258 5
253.9
256.8
258 2
253.4
256.8
258 5
253 8
257 1
258 8
254 6
257.7
258 8
254.7
257.9
259 0
254. 9
258.6
260.2
257.2
252. 5
252.7
241.2
261 0
257.4
251.9
251 5
241.2
262 9
258.8
253. 1
252 6
242.2
263 4
259 3
253.6
253 9
242.4
265 0
261 0
254.9
255 4
244.7
265
261
255
255
245
8
7
3
5
5
266 1
262 1
255.4
255 7
245 9
266 3
262.2
255.6
256 1
245.9
266 0
262.0
255.5
256. 1
245.6
266 2
262 2
255. 7
256 4
245 9
266 4
262. 5
256.2
257 4
246.0
266 5
262.6
256.3
257 7
246. 1
266 7
262.9
256. 8
258 8
246. 3
254.2
248.9
253.4
247.4
254.5
248 3
255. 3
249.3
256.8
250 8
257 0
250 8
257 2
251 1
257.5
251 4
257.4
251.4
257.7
251 7
258.4
252 4
258.6
252 6
259.3
253 5
129.4
135.8
129.6
136. 6
130.0
137.3
131.3
138 7
134.7
141.7
134.4
141 3
134.7
141 6
135.0
141.8
135.1
141.9
135.4
142.1
135.9
142.4
135,9
142.5
136.2
142 9
127.7
127 0
128.8
128. 1
134. 0
126 3
124.5
124 5
161,872
225, 681
152,886
249, 213
146, 580
269, 616
1
138.1
117 9
164, 217
308, 931
1^8 1
125 4
121.4
93 9
1
154 598
293, 652
1
127 6
124.3
126 9
107 6 i 126 6
121.3
133.5
105.6
127. 5
97.6
124 9
104.5
117.7
102.0
116.7
135, 743
409, 864
153, 592
517, 807
182, 894
492, 850
201, 289
555, 699
252, 393
622, 155
226, 434
566, 118
269. 267
531, 647
688
702
150 706
418, 182
630
613
608
675
630
659
689
708
743
867
717
710, 130
731, 533
728, 369
809, 937
802, 356
840, 693
828, 170
824, 223
806, 718
852, 543
743, 693
775, 171 1, 025, 743
245, 604
288,212
176, 314
256, 844
297, 895
176, 794
254, 361
301, 497
172, 511
283 088
341,421
185 428
280 756
348, 998
172 602
288 985
371 951
179 757
282 060
368 912
177 iqg
283, 385
364, 267
176, 571
278, 125
357, 022
171, 571
294, 539
368, 513
189 491
252, 192
325, 796
165, 705
264 962
339 522
170 687
1,784
2,387
84, 821
1,793
2,275
77, 933
1,804
2,189
62, 282
1,990
2,339
65, 533
2.027
2, 230
69. 532
2,086
2, 108
78, 163
2 122
2, 365
64, 087
2, 156
2,079
57, 668
2,148
2,181
61, 663
2,267
2,224
83, 881
2,024
1,958
2,455
75, 265
85, 046
88, 197
r
136. 8
144 2
386 238
427 406
212 099
DOiMESTIC TRADE
ADVERTISING
Printers' Ink advertising index, adjusted:
165
182
174
165
178
168
167
167
Combined index
1947-49=100..
181
173
169
182
170
r
174
165
165
163
173
168
161
164
173
Business papers
do __
171
160
167
167
r
!34
133
134
141
133
140
137
144
132
140
141
Magazines
__
_ do .
128
126
' 161
160
155
182
159
160
164
170
182
Newspapers
do
186
157
161
156
140
162
143
144
163
138
146
Outdoor
do __
132
152
147
156
152
138
r
55
53
50
72
60
60
59
64
56
Radio (network)
do
J
61
60
57
60
''227
294
304
275
294
240
250
264
304
Television (network)
.
1950-52=100 .
263
300
298
280
r
172.8
149.6
188.9
180.9
191.7
140.9
180.0
168 4
Tide advertising index, unadjusted
1947-49=100 158 6
191 0
159 6
131 1
130 3
Radio advertising:
13, 895
12,112
11,429
11, 187
10, 785
12, 267
9, 529
10, 950
10, 764
Cost of facilities, total
thous. of dol__
10. 445
10. 163
9, 571
1,063
857
669
631
785
957
692
693
721
822
Automotive, incl. accessories - _
do. __
834
1,011
3,713
2 546
2,492
2 576
2, 556
2, 573
3,413
3,182
3,315
Drugs and toiletries
do
2 341
2 222
2 130
3,136
2,578
2,648
2,537
2, 353
2,476
2,481
2,325
2,361
Foods, soft drinks, confectionery _ _
_ do
2 608
2 453
2,326
1,428
1, 358
1,161
1, 254
1,219
1,067
1,287
1,023
Soaps, cleansers, etc
-- do _
1 208
1 135
1,200
1 117
1,161
1,021
812
709
977
1,023
957
867
613
771
Smoking materials
do
883
575
3,395
3,251
3,210
2,644
3,043
3,068
3,012
All other _ ^
_.
._ _.do .
2,469
2,621
3,081
2,647
2,756
Television advertising:*
26, 208
25, 922
32, 075
33, 560
33, 463
25, 347
24, 536
31,671
Cost of facilities, total
_
do _ _
26 198
22 945
23 669
31, 136
2,342
3,432
2,331
2,476
1,932
2,837
Automotive, including accessories
_ do___
2,268
1,934
3,388
1, 969
3,506
3,239
4,525
4,397
7,202
6,721
Drugs and toiletries _
_ do ...
4,630
6,053
5,504
7,357
5,073
5 182
7,771
6,891
6,010
5,702
5,554
Foods, soft drinks, confectionery _
do
5, 436
5 447
6,571
6 735
7,735
5 795
7 453
5 377
7 339
3,037
2,952
2,882
3,055
2,996
3,145
3,453
Soaps, cleansers, etc
_ __
_ do. _
2,484
3, 054
3,296
2,798
3, 188
3,465
3,619
3,556
3,442
3,728
3,734
Smoking materials __
. do. __
3 585
3,559
3,510
3 929
3,388
3 262
6,829
All other
do
6,409
5,434
6,648
8,278
8 307
4 348
4 426
5 855
8 139
7 610
7 217
Magazine advertising :%
57, 613
62, 984
60, 328
63,511
Cost, total
do
50, 324
63, 048
33 576
36, 548
51, 787
45 077
34, 648
47 479
4, 657
5,514
5,609
3,238
5,712
Apparel and accessories
_
do _
814
4 202
6 399
4 728
3 340
1 856
3 025
5,755
6,329
5,416
4,972
Automotive, incl. accessories
._
_do_ __
3,262
3,714
3, 162
5,878
4, 177
3,787
3 714
4 523
3,427
3,641
3,236
2,184
Building materials
do
4,157
4,670
1,741
1,554
3,198
1,394
859
2,303
5,048
5,334
5,215
6,195
Drugs and toiletries
do_ .
5,210
5,795
3, 798
3,499
4,460
3,289
4 361
4 780
8,164
6,672
8 885
Foods, soft drinks, confectionery _ _
do
6,953
6 695
5 357
8 477
5 457
5 999
5 234
6 472
7 390
2, 694
2,431
2,616
Beer, wine, liquors
do. __
1,521
3,158
4, 135
2,380
1 967
2 005
1 507
4 568
2*220
3,928
4,241
4,862
Household equipment and supplies do
3,259
1,733
4,450
4, 439
1,348
3,005
913
2,807
1,913
2,533
Household furnishings
do
3,358
1,762
3,426
681
3 690
1 001
2 510
2 948
1 291
1 510
1 726
3,788
4,044
Industrial materials
do
4,020
2 719
4,769
3, 755
2 793
4 229
4 303
2 313
3 036
3 089
921
Soaps, cleansers, etc.
_.do_ _
976
1,273
781
810
760
515
456
729
294
506
1 073
1,471
1, 662
1, 350
1,691
1, 138
1,377
Smoking materials
_ do
1,549
1,087
1,285
1,055
1,492
1,350
15, 491
16, 196
17, 502
All other
do _ .
16, 727
12, 938
9,943
14 732
18, 390
9,297
11, 113
12 622
14 088
7
4, 754
Linage, total
thous. of lines
4,284
4
999
4,551
3,214
3 104
3 864
4 306
4 656
3 71
3 283
4 348
4 794
Newspaper advertising:
216, 155 233, 264 234, 644 216, 570 185 771 199 363 218 909 244, 880 238 475 229 480 196 204 194 395 242 549
Linage, total (52 cities)
_ do _
Classified
do
50, 024
51, 778
55, 689
54, 501
52, 030
50 193
53 001
51 050
48 793
50 842
45 160
48* 519
57 756
166, 131 181, 486 178, 955 164 540 135 579 146 362 167 858 190 379 189 682 184 320 145 362 145 876 184 793
Display, total
do
14, 147
14, 647
11,336
12, 572
Automotive. do
15, 129
11 520
10 781
15' 617
9 760
8 074
9 980
11 040
15 292
3,099
3,065
Financial
do
2,905
2,921
3,227
3,179
2,278
3 255
2 673
3 218
4 516
2 708
3 530
34 513
34, 084
33, 979
General
do
34, 896
31,312
23 952
37, 559
23 526
28 981
24 785
26 038
27 748
34 414
Retail.
_
_ _ _ _ d o . _ . _ 117,611 130, 295 126, 506 115, 179
96, 880 109, 777 126, 444 137, 069 136, 298 146, 991 106, 081 104[ 379 131. 557
r
Revised.
*> Preliminary.
* Data reflect work stoppage in Douglas fir industries.
§Copyrighted data; see last paragraph of headnote, p. S-l.
cfData reported at the beginning of each month are shown here for the previous month.
fRevised series. For description of the indexes and data back to January 1947, see the April 1955 issue of CONSTRUCTION REVIEW, published jointly by U. S. Department of Comment
BDSA, and U. S. Department of Labor, BLS.
'
*New series. Mortgage foreclosures, compiled by the Housing and Home Finance Agency, Home Loan Bank Board, represent estimates of the total number off imortgage foreclosures in all
nonfarm areas of the U. S. Television advertising cost, compiled by the Publishers' Information Bureau, Inc., covers gross time charges for network advertising onL major television networks
(ABC,
NBC, Columbia, and Du Mont). {Revised to exclude magazine sections of newspapers. Comparable data prior to August 1953 will be shown later.
S-9
SURVEY OF CURRENT BUSINESS
May 1955
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
1955
1954
March
April
May
June
July
DecemOctober NovemAugust September
ber
ber
January
February
March
April
DOMESTIC TRADE—Continued
PERSONAL CONSUMPTION EXPENDITURES
Seasonally adjusted quarterly totals at annual rates: J
Goods and services, totaL
bil. of doL_
Durable goods, total
do
Furniture and household equipment
do
Nondurable goods, total-
do ..
Food and alcoholic beverages
do
Housing
Transportation
do
__do
RETAIL TRADE
All retail stores:
Estimated sales (unadjusted), total
230.5
233.1
234.8
237.7
242.0
28.0
11.6
12.8
28.8
12 6
12.4
28.9
12 4
12. 6
29.9
13.1
12.8
33.4
15.5
13.9
118.8
19.5
72.0
6.9
120.0
19 7
72.5
7 0
121. 1
19 4
73. 7
7.0
122.1
20 0
74.2
7. 1
122.1
19.9
73.9
7.2
83.6
12.0
29.0
7.2
84. 3
12 1
29.3
7.2
84 8
12.2
29. 5
7. 3
85 7
12.3
29.8
86.5
12.5
30.2
7.4
13, 540
14, 324
14, 246
14, 658
14, 390
13, 896
14. 139
14, 665
14, 531
17, 872
13, 279
12, 762
r 14, 704
i 15, 530
4,768
2,771
2,644
127
4,963
2,841
2,699
143
5,020
2,832
2,695
137
5,458
3,095
2,936
159
5,022
2, 747
2,588
159
4,916
2,672
2,526
146
4,842
2, 536
2, 399
136
4, 853
2,491
2,344
147
4,786
2,478
2,338
141
5,614
2,824
2, 636
187
4,482
2,645
2,532
113
4,503
2,707
2,591
116
5,430
' 3, 305
3,170
135
i 3, 398
690
398
292
738
542
196
695
407
288
808
587
221
739
444
296
849
620
229
758
438
319
918
686
232
733
422
310
919
687
233
730
434
296
923
707
216
740
433
307
936
706
230
812
488
325
947
704
243
836
503
333
898
652
246
1,025
600
425
916
597
319
698
410
288
663
493
170
682
405
277
639
480
160
'761
456
305
795
599
196
i 741
do
do
do
do
do
do
8,772
715
152
297
143
124
9,361
949
198
379
188
185
9,227
821
184
337
149
152
9,200
852
204
326
163
159
9,368
722
154
283
147
138
8,980
681
133
266
154
128
9, 296
847
164
323
188
172
9,812
911
192
350
204
165
9,744
920
211
361
195
152
12, 258
1,448
354
566
313
215
8,797
693
149
284
136
125
8,260
602
130
247
120
106
9,274
'796
155
328
167
146
do
do
do
do
do
401
1,004
3, 340
2, 799
870
398
1,035
3,422
2, 866
903
406
1,100
3, 447
2, 886
955
406
1,134
3,385
2,833
989
407
1,221
3,689
3,121
1,052
396
1,207
3,374
2,828
1,026
392
1,156
3, 475
2,920
975
406
1,139
3,661
3,100
1,017
398
1,067
3,452
2,893
994
530
1,113
3,920
3,304
1,008
420
1,013
3,398
2,868
949
394
950
3.253
2,742
873
409
'1,026
r
3, 527
r 2, 983
'944
i 412
i 1,047
i 3, 731
i 3, 180
i 947
General-merchandise group . _ ,
Department stores, excl. mail-order
Mail-order (catalog sales)
Variety stores
Other general-merchandise stores
Liquor stores
Estimated sales (adjusted), total
Durable-goods stores
Automotive group
Motor-vehicle, other auto dealers
Tire, battery, accessory dealers
do
do
do
do
do
do
do
do
do
do
do
1,330
724
94
198
314
266
13, 900
4,858
2,738
2, 595
143
1,567
863
94
249
361
266
14, 242
4,882
2,728
2,582
146
1,478
819
86
222
350
262
14, 044
4,730
2,581
2,449
132
1,514
830
96
231
358
250
14, 439
5,024
2,826
2,682
144
1,334
697
1, 543
852
103
235
353
276
14, 214
4,798
2,564
2,434
131
1, 686
923
107
255
401
283
14,071
4,689
2,485
2,348
137
1,821
1, 025
140
265
391
287
14, 361
4,948
2,685
2,547
138
2,850
1,555
173
549
574
458
15, 123
5, 320
3,054
2,904
150
1,244
676
83
186
299
248
14, 864
5,143
2,844
2,700
143
1,171
611
85
190
284
240
14, 765
5,209
2,990
2,841
149
' 1, 464
796
107
219
342
256
15, 075
5,458
3,169
3,020
149
i 1,657
1892
228
332
280
14, 272
4,911
2,640
2,490
150
1.424
761
95
231
337
264
14, 150
4,770
2,571
2,430
141
Furniture and appliance group
Furniture homefurnishirigs stores
Household-appliance, radio stores
Lumber building hardware group
Lumber, building-materials dealers
Hardware stores
do
do
do
do
do
do
758
433
326
784
670
214
777
440
337
781
566
215
769
436
333
800
582
217
740
423
317
818
598
220
775
447
328
846
614
231
724
415
310
864
644
219
728
426
302
867
645
222
752
444
308
875
648
227
744
448
296
905
674
231
766
475
290
909
668
241
805
488
317
879
647
232
810
496
314
836
623
213
836
496
340
863
645
219
do
do
do
do
do
do
9,042
807
196
308
164
140
9, 360
876
200
340
182
153
9,313
822
194
330
160
138
9,415
885
207
354
179
146
9,361
855
184
348
378
145
9.380
8?3
178
315
190
140
9.417
820
177
311
183
149
9,382
812
173
309
175
155
9,412
823
173
330
166
154
9,803
912
188
374
177
173
9,722
889
184
356
180
169
9,556
870
188
338
183
161
9,618
867
183
334
193
157
Drug and proprietary stores
Eating and drinking places
Food group
Grocery stores
Gasoline service stations
do
do
do
do
do
410
1,049
3, 362
2,831
915
41(
1,105
3, 366
2, 835
938
410
1,102
3,434
2,872
954
412
1, 128
3,434
2,860
956
403
1,141
3,443
2,887
955
404
1,107
3, 497
2,927
969
410
1,106
3,570
2,992
950
407
1,085
3, 522
2, 966
982
411
1,070
3,494
2,944
985
413
1,070
3,657
3,103
974
425
1,092
3,560
3,007
1,023
412
1,085
3, 577
3,010
998
418
1,083
3, 618
3,069
1,007
General-merchandise group
Department stores excl mail-order
Mail-order (catalog sales)
Variety stores
O ther general-merchandise stores
Liquor stores. -
do
do
do
do
do
do
1, 490
806
98
226
360
289
1,606
857
104
260
394
292
1,539
840
100
234
365
270
1,581
854
103
249
374
280
1,569
862
104
250
353
277
1,576
854
101
256
364
291
1,566
849
100
257
359
283
1,565
867
98
247
353
266
1,570
870
101
258
341
266
1,669
904
107
285
374
284
1,654
902
106
269
377
290
1 584
849
104
254
377
277
1,615
861
112
258
384
277
do
do
do
23, 320
10,910
12,410
23, 350
11,080
12,270
23, 020
10, 900
12,120
22, 130
10, 490
11,640
21, 840
10, 240
11,600
22, 140
10,160
11,980
22, 500
9, 890
12,610
22, 630
9, 570
13,060
23, 270
9,840
13, 430
20, 670
9, 240
11,430
20, 970
9,700
11, 270
22, 010
10, 270
11, 740
23,470
10, 950
12, 520
do
do
do
do
do
22, 560
10, 490
3,810
2,010
2,310
22, 690
10,410
3,770
1,990
2, 320
22, 800
10, 500
3,820
2,020
2,320
22, 600
10, 380
3, 750
2, 000
2, 300
22, 400
10, 190
3,670
1,920
2,290
22, 450
10, 290
3, 740
1,920
2,320
22, 430
10, 230
3, 660
1,930
2,340
22, 000
9, 970
3, 360
1,930
2,340
22, 080
10, 030
3,390
1,930
2,340
22, 090
10, 060
3. 430
1,900
2, 410
22, 210
10, 160
3,650
1,850
2,330
22, 360
10, 330
3,770
1,890
2,310
22, 540
10, 450
3,900
1,890
2,290
mil. of doL_
Durable-goods stores
__
Automotive group _ _ _
__
Motor- vehicle, other auto dealers
do
do
do
Furniture and appliance group_ _
Furniture, homefurnishings stores
Household-appliance, radio stores
Lumber, building, hardware group
Lumber, building-materials dealers
Hardware stores
Nondurable-goods stores
Apparel group
IVTen's and boys' wear stores
AVomen's apparel accessory stores
Family and other apparel stores
Shoe stores
Drug and proprietary stores
Eating and drinking places
Food group
Grocery stores
_
Gasoline service stations
_
.
Nondurable-goods stores
Apparel group Men's and boys' wear stores
TVomen's apparel accessory stores
Family and other apparel stores
Shoe stores
Estimated inventories:
Unadjusted, total
Durable-goods stores .
Nondurable-goods stores
Adjusted, total
Durable-goods stores _
Automotive group
Furniture and appliance group
Lumber, building, hardware group
do do
do
do
do
do
1977
12, 220
12, 280
12,210
12,300
12, 080
12,170
12,190
12, 020
12, 030
12,030
12,050
12, 050
12, 090
Nondurable-goods stores
do
2,690
2,700
2,710
2,710
2,810
2,670
2,690
2,730
2,740
2,570
2,700
2,650
2,770
Apparel group
do
2,570
2,580
2,530
2,490
2,590
2, 350
2,440
2,370
2,290
2,310
2,300
2,380
2,310
Food group
_
do
3,720
3,740
3,670
3,730
3,740
3,820
3,730
3,820
3,770
3,920
3,810
3,830
3,820
G eneral-merchandise group
do
r
1
Revised.
Advance estimate.
{Revised series. Q uarterly <3stimates have bee n revised back to 1939; anniial data, t 0 1929. Revisions prior to <Jd quarter 1953 for 1 he grand
ponents
o
[ gross nat ional prod uct in tab le 5 on pp 8 and 9 of the July 1954 Sum^EY; those for the siibgroups appear in
total, total durable and nondurable goods, and service s are sho\ra as com
the 1954 issue of the National Income Supplement.
SUEVEY OF CUEEENT BUSINESS
S-10
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
Mav 1955
1955
1954
April
May
June
July
August
Septem- October Novem- December
ber
ber
January
February
March
April
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
All retail stores— Continued
Firms with 11 or more stores:
Estimated sales (unadjusted), total
mil. of dol..
\pparelgroup
.
_ _ _ . . .
......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 general-merchandise stores
mil. of doL.
Variety stores
do
Grocerv stores
- - do
Lumber, building-materials dealers,
do^ . .
Tire battery accessory stores
do
Estimated sales (adjusted), 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
General-merchandise group
do
Department stores
-do
Dry-goods, other general-merchandise stores
mil. of dol
Variety stores
do
Grocerv stores
do
L/umbeV building-materials dealers
do
Tire battery accessory stores
do
2, 429
155
14
58
48
59
54
31
Sales adjusted total U. S.J
Atlanta
Boston
Chicago
Cleveland
Dallas
Kansas Citv
Minneapolis
- _
New York
Philadelphia
Richmond
- St Louis
San Francisco
-
-
Stocks, total U. S., end of month: J
Unadjusted
Adjusted
-
do
-do
do
do
do
-- - do_ .
- do
do
- do
do
do.. do
...do
-
do.. _
do
Mail-order and store sales:
Total sales 2 companies
thous. of doi Montgomery Ward & Co
- .-do
Sears Roebuck & Co
do
WHOLESALE TRADE
Sales estimated (unadj ) total
mil of dol
Durable-goods establishments
do
Nondurable-goods establishments
do
Inventories estimated (unadj ) total
Durable-goods establishments
Nondurable-goods establishments
do
do
do
165
14
66
57
61
55
32
737
346
697
347
1
2. 470
» 2, 605
i 2, 643
171
16
65
61
61
57
28
139
11
58
52
63
58
28
131
10
55
47
60
58
29
729
354
655
314
692
321
1
1
2, 802
i 2, 743
i 3. 718
i 2, 316
i 2, 255
* 2, 632
170
13
62
63
60
57
183
17
68
61
64
57
33
186
20
71
54
61
54
296
32
119
86
92
58
32
126
I4*
48
41
60
53
23
113
10
37
57
50
24
174
14
67
56
60
56
32
732
355
797
380
848
385
1 360
565
267
536
240
687
327
2. 598
570
r 44
84
155
108
198
96
174
104
182
94
175
104
178
98
184
120
199
125
210
203
425
80
140
73
144
93
170
1, 086
1,128
1, 114
1. 069
1, 206
1.029
1 , 077
1,183
1,081
1, 288
1, 083
1,071
1, 166
60
50
64
49
70
59
72
52
75
49
71
51
68
49
58
74
50
42
54
42
61
49
i 2. 660
i 2, 798
54
43
2,584
' 166
1
2, 613
1
70
58
1
2, 652
1
2, 655
1
1
2, 595
i 2.619
15
62
56
61
55
30
175
16
69
56
64
55
29
160
14
63
53
63
54
28
167
16
66
54
63
55
'>8
164
15
67
54
64
55
'31
166
16
65
55
63
55
29
168
16
63
57
64
55
29
168
15
64
59
63
54
30
177
17
67
59
63
57
27
718
330
736
344
702
322
740
730
336
748
345
745
351
722
334
745
345
OOD
2, 654
2, 607
107
200
105
191
105
192
99
187
106
199
107
190
109
200
102
199
105
193
1,090
1, 088
1.098
1,128
1,119
1,120
1,108
61
49
60
51
1, 120
62
48
62
52
63
54
63
49
64
51
61
52
67
50
127
236
131
236
130
233
130
232
117
226
117
228
127
231
135
238
48
15
45
14
46
14
47
14
45
14
45
13
46
13
46
43
11
46
44
10
47
43
10
46
44
10
47
42
11
46
43
11
'90
110
86
'87
82
102
'92
79
85
'92
'98
92
88
110
129
108
109
105
119
106
120
102
108
98
119
106
114
106
108
100
112
98
115
83
98
94
115
110
' 110
'107
104
98
104
114
106
107
96
99
104
113
110
105
88
106
77
86
82
111
'99
84
73
78
93
89
100
108
122
102
108
98
123
112
129
106
110
107
127
111
132
107
106
105
132
1947-49=100
do
do
do
do
- do
do
-- do
do
- do
-- - do
- --do
do
-
1 2, 603
212
18
81
73
62
54
27
604
278
Department stores:
Accounts receivable, end of month:
Charge accounts
1947-49=100
Installment accounts
do
Ratio of collections to accounts receivable:
Charge accounts
percent
Installment accounts 9
do
Sales by type of payment:
Cash sales
percent of total sales
Charge account sales
do
Installment sales
do
Sales unadjusted total U. S.J
Atlanta
Boston
Chicago
Cleveland
- _
Dallas
Kansas City
Minneapolis
New York
Philadelphia
Richmond
St Louis
San Francisco
i 2, 687
r
'111
101
101
109
124
112
107
105
117
102
102
92
115
'104
95
99
106
r
111
127
105
111
104
120
114
r
>• no
* 2, 717
i 2, 788
181
15
69
62
63
56
31
169
15
66
56
63
57
30
178
15
68
61
63
57
30
820
385
812
393
758
357
812
390
120
216
114
206
107
197
115
205
1. 127
1,164
1,168
70
52
66
55
70
55
70
55
150
249
200
277
163
276
140
268
132
266
47
14
48
13
46
14
44
14
43
14
48
15
45
44
11
44
44
12
45
44
11
47
43
10
45
43
12
45
43
12
44
44
12
112
123
115
113
105
121
118
141
110
114
111
135
137
154
133
133
134
147
200
234
200
188
192
225
' 122
99
80
85
102
100
111
111
106
111
122
111
112
122
110
113
130
123
116
120
132
146
153
137
134
180
184
197
231
193
209
88
108
82
84
84
101
'89
81
81
83
90
90
93
'100
P130
' 116
91
106
90
88
87
107
'94
8C
84
85
91
93
97
112
131
104
108
108
127
107
121
109
106
101
114
113
138
110
111
106
129
114
135
110
110
109
130
117
136
111
115
116
134
118
137
114
114
113
135
112
'118
'116
' 123
' 126
105
IOC
109
119
112
115
'113
P 134
p 105
p 111
P 104
P129
P117
P105
»10i
P 111
P128
P 116
P 116
'133
' 116
' 110
103
102
109
120
122
114
105
101
109
117
112
115
105
105
107
120
110
115
101
102
107
115
104
110
106
105
105
124
112
116
104
105
111
124
115
114
j> 121
2, 754
1,154
1,116
104
100
105
115
106
114
' 117
1
188
18
73
62
66
57
27
'205
113
105
113
133
118
118
111
106
112
124
120
124
'131
109
109
109
125
'113
p 94
p 117
P105
P88
P91
PlOl
p 111
plOl
P97
111
100
102
109
122
114
111
126
121
127
120
126
121
116
122
115
124
120
124
129
125
138
124
139
124
110
124
111
123
117
121
P128
"123
278, 044
67, 406
210, 638
333, 209
83, 562
249, 647
335, 726
78, 109
257, 617
352, 655
81,318
313, 704
69, 881
243, 822
327, 837
77, 591
250, 247
345, 570
81. 298
264, 272
370, 634
88, 435
282, 199
384, 428
93, 531
290, 898
523, 056
131. 875
391, 181
268, 312
53. 456
212, 856
242, 847
52, 271
190, 576
319, 249
76, 420
242, 821
9,135
2,928
6 207
8, 751
2,902
5, 849
8, 526
2,781
5,745
(
J. 465
3, 060
6, 405
9,515
2, 872
6, 643
9,461
2,984
6,477
9, 632
3, 089
<), 543
9,627
3,023
6,604
9, 596
3,007
6,589
8,686
2,719
5,967
11,843
6, 053
5 790
11,601
6,022
5 579
11, 553
6,040
5 513
11,488
5, 881
5, 607
11, 503
5,720
5,783
11-, 627
5, 712
5,915
11,752
5. 642
6.110
9,469
3, 095
6.374
'
11,944
5,641
6, 303
11,916
5,611
6,305
11, 562
5, 460
6,102
11, 738
5,651
6,087
' 120
' 109
271,337
' 8, 454
' 2, 798
' 5, 656
'11,768
5,846
' 5. 922
P 115
P90
p98
P 119
376,049
88, 607
287, 442
9,687
3,271
6,416
11, 638
5,939
5,699
1
' Revised
» Preliminary.
Excludes comparatively small sales amounts for certain lines of trade also excluded from this series prior to April 1954.
9 Revised beginning 1953; not strictly comparable with earlier data.
|Data for 1946-53 have been revised to reflect changes in seasonal factors and other minor changes. Unpublished
revisions (prior to July 1952) will be shown later.
SURVEY OF CURRENT BUSINESS
May 1955
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
S-ll
1955
1954
April
May
June
July
August
Septem- October Novem- December
ber
ber
January
February
March
April
EMPLOYMENT AND POPULATION
POPULATION
Population, continental United States:
Total, incl. Armed Forces overseas©
thousands..
161.543
161,762
161, 966
162, 184
162, 409
162, 667
162, 945
163, 210
163, 465
163, 699
163, 930
164, 158
164, 367
164, 595
Noninstittitional population, estimated number 14
years of age and over, total
thousands..
EMPLOYMENT
11.5.914
115,987
116,083
116, 153
116,217
116, 329
116, 432
116, 547
116,644
116, 763
116,855
116,901
117,051
117, 130
do
67,218
67, 438
67. 786
68, 788
68, 824
68, 856
68, 566
68, 190
67, 909
66,811
66, 700
66, 550
66, 840
67, 784
do
do
do
do
do
63. 825
60; 100
5, 875
54, 225
3,724
64, 063
60, 598
6,076
54, 522
3, 465
64, 425
61,119
6,822
54, 297
3,305
65, 445
62, 098
7,628
54, 470
3,347
65, 494
62, 148
7,486
54, 661
3, 347
65, 522
62, 277
6,928
55, 349
3,245
65, 244
62,145
7, 527
54,618
3,100
64, 882
62, 141
7,239
54, 902
2,741
64, 624
61, 732
6,154
55, 577
2,893
63, 526
60, 688
5,325
55, 363
2,838
63, 497
60, 150
5,297
54, 853
3,347
63, 321
59, 938
5,084
54. 854
3,383
63, 654
60, 477
5, 692
54. 785
3, 176
64, 647
61,685
6, 215
55, 470
2, 962
do
48, 696
48, 549
48, 297
47, 365
47, 393
47, 473
47, 865
48, 357
48, 735
49, 952
50, 156
50, 352
50, 212
49, 346
do ...
do
do
do
47, 864
16. 170
9,324
6.846
48, 069
15, 948
9,207
6. 741
47, 939
15, 781
9. 095
6, 686
48, 200
15, 835
9,066
6,769
47, 866
15. 584
8,811
6,773
48, 123
15,822
8,820
7,002
48, 490
15,972
8,887
7.. 085
48, 580
16, 007
9.002
7, 005
48, 808
16, 057
9,121
6, 936
49, 463
16, 050
9,144
6,906
47, 741
15,925
9,113
6, 812
47, 753
16, 060
9,220
6,840
48, 206
16, 201
9,322
6,879
p 48, 613
P 16, 242
P 9, 410
P 6, 832
Mining total
do
Metal
.-do
\nthracite
-do
Bituminous coal
._ do_ _ _
Crude-petroleum and natural-gas production
thousands. .
Nonmetallic mining and quarrying
do
Contract construction
do
Transportation and public utilities
do
Interstate railroads _ . _ _ .
. do
Local railways and bus lines - .
do
Telephonedo
Telegraph
do _ _
Gas and electric utilities
do
794
102
46
246
99
45
228
761
100
37
221
771
100
36
222
760
101
34
210
763
99
35
215
744
90
34
213
743
91
43
211
749
94
44
212
747
93
43
212
741
94
43
211
737
94
40
210
736
94
*737
P94
207
"205
298
102
2, 340
3,966
1.211
130
700
41
552
296
104
2. 452
3,991
1,202
130
700
42
553
298
106
2. 542
3.993
1,212
128
699
41
553
305
107
2,629
4,017
1,225
127
699
41
560
308
108
2,686
4,029
1,228
127
705
41
565
306
108
2,735
4,018
1,220
126
703
41
565
300
107
2,698
4,023
1,212
125
696
41
561
292
106
2, 652
4,005
1,203
124
694
41
556
294
106
2,598
3,986
1,186
123
694
41
555
296
104
2,426
3,996
1,187
123
694
42
555
294
100
2,237
3,927
1,153
122
693
41
553
293
100
2,169
3,937
1,152
121
696
41
553
102
2,264
3,963
P106
P2.417
P3,944
10, 289
2,787
7,502
1,312
1,422
769
2,077
5,507
469
329
160
6, 721
10. 474
2,768
7, 706
1,400
1, 445
764
2,096
5.611
483
331
166
6, 725
10, 351
2,750
7,601
1,331
1,443
763
2,103
5,672
497
334
166
6,736
10, 389
2,761
7,628
1.316
1,449
765
2,128
5,715
522
337
167
6,716
10. 351
2,784
7,567
1, 281
1,442
764
2.150
5,755
580
338
162
6,551
10, 321
2,784
7,537
1.280
1,434
760
2,151
5,750
579
332
156
6,563
10. 447
2,789
7,658
1,349
1,444
753
2,141
5, 719
512
329
157
6,746
10,548
2,819
7,729
1,398
1,460
749
2,136
5,660
474
330
160
6,829
10, 745
2,849
7,896
1,518
1,472
754
2,134
5,622
466
328
158
6,917
11, 354
2,860
8,494
1.903
1,494
767
2,136
5,588
463
327
155
7,166
10, 419
2,817
7,602
1,327
1,462
749
2,124
5,533
456
326
153
6,835
10, 309
2,806
7,503
1,269
1,467
749
2,132
5, 536
462
324
150
6,873
10, 394 p 10, 504
2,813
2,803
7,581
7,701
1,297
1,355
1,473
1,481
754
P760
2,154
2, 171
5,572
5, 670
do
do
do
do
48, 450
16, 199
9,298
6,901
48, 267
16, 072
9,191
6, 881
48, 183
15, 985
9, 115
6,870
48, 170
15, 942
9,070
6,872
48, 048
15. 733
8,912
6, 821
48, 029
15, 688
8,856
6,832
48, 020
15, 739
8,881
6,858
48, 129
15,835
8,975
6,860
48, 386
15, 972
9,082
6,890
48, 380
15,992
9,105
6,887
48, 398
15,993
9,124
6,869
48, 440
16, 091
9,211
6,880
48, 762 p 48, 849
16, 231 P 16, 364
9,300
p 9, 396
6,931 p 6, 968
_ . _ _ do
do
do
do
. .do
do
do
794
2,571
3,986
10, 535
2,087
5, 591
6,687
776
2,554
3.998
10, 502
2,096
5,611
6,658
769
2, 542
3,996
10. 470
2,103
5,616
6,702
767
2.528
4,001
10, 455
2,107
5,631
6,739
768
2,534
4,000
10, 480
2,118
5, 670
6,745
755
2, 532
3,989
10, 475
2,119
5, 665
6,806
740
2,521
4,007
10, 447
2,141
5,634
6,791
743
2,502
3,995
10, 443
2,147
5,660
6,804
745
2,522
3,976
10, 496
2,145
5,650
6,880
743
2,476
3,986
10, 575
2,147
5,644
6,817
741
2,458
3,974
10. 574
2,145
5, 646
6,867
741
2,410
3,984
10, 541
2, 154
5, 649
6,870
736
2,488
3,983
10, 618
2, 165
5,657
6,884
12, 766
7,378
134
12, 548
7,266
122
12, 394
7, 163
112
12, 437
7,130
107
12, 179
6,876
104
12, 418
6,890
101
12, 577
6. 965
102
12, 612
7,081
100
12. 657
7,198
98
12. 645
7,218
97
12, 523
7,182
96
12, 649
7,282
94
12, 787 p 12, 812
7,383 p 7, 462
94
*93
622
341
293
429
78
1,008
627
345
285
428
78
990
654
355
279
427
78
974
674
366
277
427
78
982
583
318
275
424
74
969
592
325
290
434
76
967
672
371
298
437
76
965
692
374
301
438
76
969
685
369
301
438i
76
988
661
360
297
437
75
1,002
631
350
293
430
74
1,013
639
353
296
434
75
1,032
502
491
483
488
485
484
485
481
487
493
498
508
51
51
51
52
52
52
50
49
53
53
53
53
850
838
832
831
809
820
821
829
844
843
834
844
95
1,207
812
1, 405
659
565
122
52
234 i
385'
93
1.192
'796
1,384
655
558
118
47
228
376
93
1, 170
776
1,346
630
548
117
43
224
370
96
1, 154
761
1,328
624
543
113
41
219
371
94
1,111
751
1,279
590
537
111
33
214
358 '
100
1, 095
766
1,238
562
528
103
36
214
373
102
1,097
785
1,183
504
531
103
36
218
386
103
1,093
800
1.249
"580
522
104
35
218
393
103
1,092
811
1,334
665
524
101
36
218
390
100
1,106
809
1,375
702
525
104
37
218
373
97
1,109
800
1,400
730
523
104
38
217
360
100
1,125
803
1,426
750
523
106
41
216
371
Total labor force, including Armed Forces.
Civilian labor force, total
Employed
A gricultural employment
Nonagricultural employment
Unemployed
Not in labor force
--
-
Employees in nonagricultural establishments^
Total, unadjusted (U. S. Dept. of Labor)
M anuf acturing
Durable-goods industries.
Nondurable-goods industries
Wholesale and retail trade
Wholesale trade
Retail trade
General-merchandise stores
Food and liquor stores
_
Automotive and accessories dealers
Finance, insurance, and real estate
Service and miscellaneous
Hotels and lodging places
Laundries .
Cleaning and dyeing plants
Government
Total, adjusted 9 . . .
Manufacturing
Durable-goods industries
Nondurable-goods industries -
. __ .
Mining . _
Contract construction
_
Transportation and public utilities.
Wholesale and retail trade _
Finance, insurance, and real estate
Service and miscellaneous _ __ _
Government
do
do
do
do _
do
do _ _
do
__.do
_do
do
do ...
do
Production workers in manufacturing industries: 9
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, clay, and glass products
do
Glass and glassware, pressed or blown. _ .do
Primary metal industries.
do
Blast furnaces, steel works, and rolling mills
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
E lectrical mach inery
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
T
6,922
P 6, 928
p741
P2, 518
p 3, 951
P 10, 555
P 2, 171
p 5, 670
p 6, 879
635
i' 644
298
442
P29-5
P449
1,061
p 1,083
857
"867
1,146
806
1,448
P 1,164
P808
P 1,465
219
377
P 220
v 374
Revised. * Preliminary.
©Minor changes have been made for May 1950-Octo ber 1951. Revision s for Nov ember 195 1-Decemt)er 1953 will be sho\vn later,
9 Data for employment and hours and earnings have} been rev ised effect ive with t his issue c f of the S rjRVEY to adjust to the first q uarter 1954 benchm ark. Re\ isions beg inning 1953 will be
available within the next few weeks upon request to the Division ojr Manpow er and Eniployment Statistics, Bureau o/ Labor S tatistics, L T. S. Depa rfment of 2rjibor. Be ginning S eptember 1954, the
estimates of the number of employees by industry divis on and tl e number and inde x of prodiiction wor kers in m anufactui ing indus tries (p. S -12) adjus ted for sea sonal van.ation are compiled
by the U. S. Department of Labor, Bureau of Labor Stati sties. Th e BLS is currently using the seasonal factors I'oi-rnerly us ed by the Board of Governors, Federal f Reserve Sy*. tern.
SURVEY OF CURRENT BUSINESS
S-12
May 1955
1955
1954
Unless otherwise staled, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
March
April
June
May
July
August SeptemOctober Novem- December
ber
ber
January
February
March
April
EMPLOYMENT AND POPULATION—Continued
i
EMPLOYMENT—Continued
Production workers in mfg. industries 9— Continued
Total (U. S. Dept. of Labor)— Continued
Nondurable-goods industries
thousands
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
doApparel 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_
Chemicals and allied products
do
Industrial organic chemicals
do
Products of petroleum and coal
do
Petroleum refining
.do__R ubber products
do
Tires and inner tubes
_do_
Leather and leather products
do
Footwear (except rubber)
- do
Rroduction workers in manufacturing industries, adjusted: $
Total
thousands
Durable-goods industries
do
Nondurable-goods industries
-do _
5,388
1,014
246
76
130
174
115
84
982
450
193
5,282
1, 016
241
79
140
174
117
82
972
445
192
5,231
1,037
239
83
149
172
122
82
961
440
192
5, 307
1, 086
247
87
172
174
127
82
973
445
197
5, 303
1, 152
246
87
235
176
^33
83
946
430
192
5,528!
1, 238'
251
85
320
174
127
102
974
440
202
5,612
1, 268
257
80
347
173
122
110
978
440
204
5,531
1, 180
262
76
244
175
119
112
979
440
204
5, 459
1,111
264
75
179
175
118
103
983
440
204
5,427
1,062
264
72
151
173
114
100
983
443
200
5, 341
1,007
256
72
135
168
107
91
977
444
192
5, 367
985
250
73
1251
If 19
105
89
985
446
196
5,404
992
P 5, 350
* 1,001
84
987
*>80
T? 9go
1,103
117
1,033
107
988
102
990
105
984
103
1,054
112
1, 059
111
1,057
106
1, 060
101
1,073
108
1, 069
108
1,101
110
1,110
J> 1, 061
279
349
438
221
271
314
435
220
265
287
435
221
267
284
439
223
252
296
433
220
273
317
439
222
278
312
445
224
281
305
444
222
282
315
444
222
277
332
442
223
276
335
437
221
285
343
437
922
440
j? 444
514
145
168
542
204
177
137
197
82
338
226
513
145
168
537
202
176
137
192
80
325
218
511
146
167
529
201
179
138
194
81
316
211
514
147
168
521
201
181
140
196
82
324
217
508
144
167
517
201
181
141
171
65
328
218
509
144
167
520
201
179
139
175
66
338
224
518
146
170
529
201
177
137
196
83
331
217
520
147
170
534
202
175
135
202
84
330
213
518
147
169
533
205
173
134
202
81
332
216
519
148
172
534
206
172
133
207
85
335
222
512
146
170
534
207
169
132
209
85
336
225
512
145
170
535
209
170
132
209
87
345
228
515
»517
548
•P 548
171
v 172
911
v 212
346
P 335
12, 790
7,353
5,437
12 663
7, 250
5,413
12 590
7 182
5,408
12 546
7 136
5' 410
12 337
6 979
5 358
1? 297
ft' 928
5*369
12 346
6 957
5 389
12 445
7,054
5,391
12 572
7 159
5 413
12 580
7 177
5,403
12 586
7, 191
5, 395
12 673
7 269
5 404
101.4
102.4
100 2
101 8
100 5
101 4
98 5
99 7
100.4
99.4
101.7
99 8
102.0
100 6
102 3
101 6
102 2
101 7
101.2
101 8
102 3
102 5
103 4
103 6
2,141.4
206.7
2, 134. 0
205.7
2 137 6
207 7
9 135 4
207 4
2, 130. 9
206.4
2 115.9
204.7
2 121 3
205.5
2 138 7
206 0
2 431 1
1
209 8
2 113 2
206. 1
2 116 4
207 0
2 12° 1
'207 5
1,081
1 091
1 104
1 107
1 099
1 092
1 083
1 064
1 059
1 037
r I 0^3
P i Q35
P 93 g
Production workers in manufacturing industries: 9
Indexes of employment:
103.2
Unadjusted
1947-49= 100__
103.4
Adjusted
do
Miscellaneous employment data:
Federal civilian employees (executive branch) :cT
2, 147. 0
United States, continental
thousands
206.6
Washington, D. C., metropolitan area., -do- .
Railway employees (class I steam railways) :
1,089
Total
thousands
Indexes:
103.8
Unadjusted
._ 1935-39= 100. .
106.5
Adjusted
do
1
103.1
104.8
104 1
104 5
105 3
103 9
105 7
103 5
104 9
102 8
104 3
101 8
103 4
100 0
101 6
100 7
100 9
102 4
98 9
102 9
137.9
134.5
134.6
135.8
131.9
134, 8
138.0
139.1
142.2
143.1
39.5
40.0
40.2
39.0
39.7
39 7
39.3
39 9
40 0
39.5
40 0
40 1
39.4
39 7
40 1
39.7
40.1
40. 1
39.7
40 1
40 1
39.9
40 4
40 5
40.2
40 8
40 7
40.0
40.6
40 1
40.5
39.6
38 C
40.2
40.6
39 1
40.2
38.3
38 0
39.9
40.5
38 8
40 4
39.0
38 4
40.9
41.2
39 6
40 5
38.8
38 8
40.8
41 7
39 4
40 3
38.4
38 3
41.5
42.2
40 6
40.7
39.1
38 4
40.6
41.7
40 8
40 7
39.3
38 5
41.5
41.9
41 2
41 2
39.7
38 9
12 809 v 12 927
7 359 i> 7 448
5 450 v 5' 479
P 103 6
P 1Q4 5
v 98 7
p 1Q1 3
•p JQ"1 9
141.5
144.4
147.0
v 146. 3
40.5
41 1
40 7
40.2
40 9
40.4
41 1
40.7
P40.2
41.1
41 5
40 9
41 2
39.2
40.8
40 9
41 4
41 1
39.5
40.7
40 7
40.8
41 9
41.1
--.-_
»40. 1
40 6
39.3
4f) A
38.8
on .i
oy.
39.7
39.8
40 4
PAYROLLS
Manufacturing production-worker payroll index, unadjusted (U. S. Dept. of Labor) 9
1947-49=100..
LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor) : 9
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
_ _ d o _ ..
Glass and glassware, pressed or blown__do
Primary metal industries
do
Blast furnaces, steel works, and rolling mills
hours. _
Primary smelting and refining of nonferrous
metals
hours
Fabricated metal prod, (except ordnance, machinery, transportation eq uipment)-- hours, _
Heating apparatus (except electrical) and
plumbers' supplies
hours. _
Machinery (except electrical)... _
do
Electrical machinery
do
Transportation equipment
do
Automobiles
_. ..do ...
Aircraft and parts
..
do ._
on c
40 0
Aft
K
4fl 4
36.8
37.1
37.6
38.0
37.5
37.3
37.4
39.9
39.8
40.0
40.3
39 8
40.3
39 4
40 0
40 3
40 5
40 6
40.4
40.1
40.7
40.7
40.0
40.5
40.7
40.9
41.2
41.6
41.1
39.3
41.1
39.6
40.1
39.5
41.0
38.4
40.5
39 2
40.2
40.4
40.5
38.8
38.5
39.6
39.2
39.4
40 6
39 5
40.6
40.9
40.7
39. 1
38.5
39.6
39.4
40.1
40 5
39 6
39.9
39.3
40.8
39. 1
38.6
39.8
39.6
37.7
40.4
39.1
40.0
40.7
40.1
40.2
39.3
40 2
40 1
40 3
40 2
40 4
40 9
40 8
4.O S
39 8
39 3
40 1
40 4
40 7
40.2
39.8
40.0
40.4
41.8
42.5
42.1
39.2
40.0
39 8
40 6
42 9
44 0
43 0
40.8
40.7
40.8
40.7
41.2
41.4
41.5
38.7
39.0
37.9
38.4
38.2
39.2
39.4
39.2
Railroad equipment _ _ .
.
do
38.2
38.4
36 8
38 2
39 9
40 4
40 1
40.2
Instruments and related products
do
39.5
39.5
39.9
40.1
40.3
40.5
40.2
40.0
Miscellaneous mfg. industries
do
39.0
39.9
40.0
40.5
40.5
40.2
40.6
••Revised.
p Preliminary.
1 Includes temporary Post Office employees hired during Christmas season; there were about 304,300 such employees in all areas
V oee corresponding note on p. S-ll.
41 4
4O ^
39.6
v 41. 2
41.2
41.4
P41.2
42.6
i>41.9
40.5
40.8
P40.5
*>40.4
39.8
41 n
42.4
43 8
41.1
39.5
39 4
40.5
40.5
SURVEY OF CURRENT BUSINESS
May 195:
8-13
1955
1954
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
January
February
March
April
EMPLOYMENT AND POPULATION—Continued
LABOR CONDITIONS— Continued
Average weekly hours per worker, etc. — Continued
All manufacturing industries, etc. — Continued
Nondurable-goods industries 9
hours
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
hours__
Men's and boys' suits and coats
do
Men's and boys' furnishings and work clothing
hours
Women's outerwear _
do
Paper and allied products..
..do _
Pulp, paper, and paperboard mills
do
Printing, publishing, and allied industries
hours _.
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.
Nomnanufacturing industries: 9
Mining:
Metal
- -_
do
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
Telegraph ... _.
__ _ ..
. .do...
Qas and electric utilities
do
Wholesale and retail 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 and miscellaneous:
Hotels, year-round
_
_
do
Laundries ..
. ...
. do.
C leaning and dyeing plants
do
38.8
MO. 3
39.7
43.2
36.7
40.8
40. 1
36.0
38.0
38.0
36.9
38.1
40.2
39.5
43.3
r
36 3
40 9
40.5
36.3
37.1
37.2
'35.4
38.5
40.8
40.4
43.4
r
38 1
41 0
40.3
37.3
37.3
37.1
36.1
38.9
41.4
41 0
44.6
38 6
41 4
41. 1
38. 3
37 8
37.6
36.9
39.0
41.5
41.7
44.6
39.4
41. 1
41.5
37.9
37.8
37.8
36.6
39.2
41.2
40.9
43.2
MO 6
40 8
40.6
38.5
38.5
38.4
37.6
39.3
41.5
41.2
43.6
40.8
41.0
40.6
39.4
38.6
38.7
37.5
39.2
40.9
41.5
43.5
r
38 5
40 7
40.4
40.1
39 2
39.5
38.3
39.5
Ml. 2
42.8
42.4
'36.7
40 6
39.9
36.9
r
39 8
40.3
38.5
'39.8
41.4
42.8
42.8
38.2
40 9
39 5
38.4
40 2
40.6
38.3
39.3
40.8
41.7
43.3
37.7
40 4
39.4
37.7
39 6
39.9
37.4
39.5
40.5
40.0
43.3
38.2
40 5
39.7
37.0
40.0
40.1
38.2
36 2
35.6
34.3
32 9
34.9
32.9
35.0
34 0
35.2
35.5
36.2
35.0
35.9
35.4
35.7
32.9
36.1
33 8
36.3
36 0
36.0
35. 5
36.1
35.9
42.1
43.4
34.6
33.8
41.6
42.8
34.8
34.8
42.1
43.2
35.4
33.7
42.4
43.6
35.5
34.1
42.4
43.8
36.9
35.2
42.6
43.6
36.7
34.1
M2.6
43.6
36.8
33.6
42.7
43.7
36.5
34.9
42.8
43.8
36 2
35.7
42.7
43.8
38.6
35.7
39.8
41.1
40.2
40.2
40.2
38.5
36.6
37.7
37.3
38.1
35.9
39.3
41.1
40.3
40.3
40.2
r
38.8
37.9
35.6
34.9
38.2
36.1
39.1
40.9
40.5
41.2
41.0
39.7
39.4
35.4
34.5
38.3
36.1
39.0
41.2
41.0
41.4
41.0
40.2
40.2
36.7
35.9
38.3
35.8
39.5
40.9
40.5
41. 1
40.8
39.4
38.5
37.5
37.2
38.5
35.6
39.4
40.9
40.5
41.0
40.7
39. 1
37.4
37.4
36.9
38.6
36.0
39.4
41.2
40.9
41.2
40.6
39.3
38.3
36.2
35.1
38.4
36.0
39.4
41.2
40.6
40.6
40.4
40.4
39.3
35.7
34.3
38.5
36.0
39.5
41.3
40.9
40.9
40.8
41. 1
40.4
37.0
35.9
39.0
36.8
40.2
41.4
41.0
40.6
40.6
Ml. 8
41. 6
37.8
37.2
39.9
25.4
30.9
MO. 6
36.3
33.2
MO. 3
29.2
30.4
40.8
33.0
33.1
MO. 2
23.6
32.6
MO. 1
34.1
35.3
40 6
33.7
35 6
T
MO. 4
25.6
29.7
r
39 7
26.2
28.9
r
r
r
39.7
40.6
p38.9
•P 40.3
37.7
39.9
P 36. 1
T 38 8.
36.7
36.6
37.2
*>35. 5
36.0
35.6
42.3
43.7
37.1
35.9
42.5
43.8
42.7
p 42.4
35.2
39.6
41. 1
40.7
40.8
40.9
41.3
41.1
37.9
37.5
as. 2
38.4
35. 5
39.8
41.2
40.8
40. 2
40.2
41 3
40. 7
38.8
38. 5
38.8
P 38. 4
41.4
P 41.2'
40 6
P 41 0
40 9
v 40 7
38.6
v 36. 3
41 7
35.1
37. 1
42 8
31.9
37 1
42 0
36.3
37 8
40.3
43.4
36. 4
38.4
36.0
41.7
42.4
35.4
36.8
35. 1
39.9
41 6
35.3
37 9
34.7
42.5
38 9
41.3
40 9
4?. 9
39 0
41.3
40 9
40.2
42.9
37.0
39.7
36.4
40.2
43. 4
37.0
39.3
r
36. 4
41.3
44.5
37.5
40.6
36.7
40.1
44.9
38.1
41.8
37.1
40.6
45.2
38.1
42.3
36.9
41.4
45.1
38.0
Ml. 9
37.0
40.8
44.7
36.8
39.9
36.0
40.2
44.9
37.4
40.4
36.6
40.2
44.4
36.7
40.3
35.8
43.2
38.2
41.2
41.0
43.1
38.2
42.1
41.0
43.3
38.5
42.1
41.0
43.7
38.7
41.7
41.2
42.9
39.2
41.7
41.5
43.0
38.9
41.8
41.3
42.7
40.0
41.9
41.7
42.8
39.8
42.1
42.0
42.5
39. 7
41.5
41.4
43.2
39.3
41.4
41.4
r
40.2
40.2
40.4
40.4
40.4
40.4
40.4
40.5
40 4
40 8
40 4
40 3
39.1
35.2
38.3
44.4
39.1
35.5
38.3
44.5
38.9
34.7
r
38.0
44.3
39.3
35.3
38.8
44.4
39.8
36.2
39.6
44.4
39.7
36.0
39.3
44.3
'39.1
35.2
38.7
44.2
38.9
34.9
38.0
44.2
38.7
34.6
38. 1
44.2
39.5
37. 1
38 4
44.4
38.9
35.3
38 0
44 0
38.9
35 1
37 9
44 2
41.9
39.6
39.2
41.7
40.4
42.0
41.8
40.3
40.1
41.9
40. 5
41.0
41.7
40.0
38.8
41.8
39.4
38.2
41 9
40. 1
39.7
41.7
40.5
40.1
42 0
40 0
39.3
41 8
40 3
39. 5
42 1
40 0
39.0
41 8
39 8
38.0
Industrial disputes (strikes and lock-outs):
Beginning in month:
r
r
r
r
r
r 153
358
370
'384
••268
••330
Work stoppages
_ __.
_ number
328
315
' 285
220
225
250
300
r
r
r
r
r
r 71
r 113
238
* 196
208
r 29
113
Workers involved
thousands
r 126
143
164
50
90
165
In effect during month:
r
r
r
r
395
M20
'
580
'559
Work stoppages
.
number
501
••577
T
293
525
488
'
526
387
380
450
f
r
'376
r 160
'-281
Workers involved. __
_ ___ _ thousands
187
244
' 259
' 304
'300
' 129
r 78
80
125
220
r 2, 390 r 3.r 800 ' 3, 740 * 2, 410 ' 1, 820 r 1,310
' 1, 490 ' 1, 220 r 2, 010
Man-days idle during month
do
M86
400
570
1,600
r
r 15
' .16
r .24
.44
.13
Percent of available working time.
. ..
27
r.26
21
. 41
05
05
07
17
U. S. Employment Service placement activities:
439
391
470
428
439
Nonagricultural placements
thousands
487
478
426
520
393
397
373
453
Unemployment compensation, State laws (Bureau of
Employment Security):
1,392
1, 335
1,442
1,227
1,272
1, 157
Initial claimst-- -thousands
1 100
1 194
1 123
1 450 1 1 490
1 027
996
1,862
1,924
2,175
Insured unemployment, weekly average*
do
2,181
2,070
1,692
1,580
1,466
1, 463
1,666 i 1, 962
1,880
1.657 f 1,471
Benefit payments:
i cyn
1,953
1 894
1, 597
Beneficiaries, weekly average
do
1 850
1 818
1 523
1 414
1 299
1 223
1 365 i i ggg
1 672
215 650 200 837 185 601 190 959 167 980 162 653 153 737 135 299 132 089 153 050 i i7Q 575 1 fV^ OQ^
Amount of payments
thous ofdol
Veterans' unemployment allowances :cf
00
34
38
30
38
29
Initial claims
thousands
28
36
28
34
41
44
35
82
79
82
87
09
77
Insured unemployment, weekly average
do
85
75
65
68
79
95
88
97
103
94
97
Beneficiaries, weekly average-. , _ - - do .
101
100
92
75
73
87
105
111
107
9,894
1 0, 840 10, 153
Amount of payments
thous. of dol..
8,975
9, 755
10, 238
9,444
7,377
7,520
9,381
10, 198
10, 224
11,337
Labor turnover in manufacturing establishments:
2.9
2.4
2.8
3.5
2.7
3.3
Accession rate
monthly rate per 100 employees..
3.4
3.6
3.3
2.5
3.3
'3.2
P3.6
p q i
3.1
3.7
3.8
3.3
3. 5
Separation rate, total
do
3.1
39
33
10
30
2 9
2 5
.2
•p Q
.2
.2
.2
.2
2
2
2
2
Discharge
__ _
do _ _ _
.2
11
p 1 0
2.4
2.3
1.9
1.7
1.6
1.7
Lav-oiT
do
17
16
1 6
17
15
v
9
1.0
1.1
1.1
1.0
1. 1
Quit
- - --do .1.4
1.8
12
10
10
10
13
.2
.2
.2
.2
.2
.3
Military and miscellaneous. - . - - .. do .._
.2
.1
'.3
'.2
P. 2
r
Revised.
» Preliminary.
i Beginning 1955 includes data relative to UCFE (January 1955 initial claims, 38,000; benefits paid, $307,000).
9 See corresponding note on p. S-ll
t Re vised to include only privately operated lines; data shown in the March 1954 SURVEY and earlier issues cover both privately operated and go vernn
nment-operated lines.
i IVUVIOL-U. ouiius. jDtjjuiiimig witn tut; -L'tfuiuaiy xyyt o u t i v - u r , uuca uavo ween revisou 10 excmue transitional ciaims anu, tneroiore, more closely represent instances of new unemployment
*New series. Compiled by the U. S. Department of Labor, Bureau of Employment Security. Data for insured unemployment for continental U. S. (excluding Alaska) have been substituted for the series on number of continued claims filed. The insured unemployment series is derived by adjusting the number of weeks of unemployment for the lag between the week of
unemployment and the time the claim is filed,, so^that the adjusted series refers to the week in whicb unemployment actually occurred. The monthly figures are averages of weekly data adjusted for split weeks in the month on the basis of a 5-day week.. Weekly averages for 1952 appear in the February 1954 SURVEY..
vetera
cf Beginning with the February 1954 SURVEY, data for veterans'
unemployment allowances cover only unemployment compensation benefits under the Veterans Readjustment Assistance
Act of 1952. 1 he figures for initial claims exclude transitional claims; the insured unemployment figgures exclude claims from veterans which were filed to supplement benefits under State or
railroad unemployment-insurance programs to eliminate duplicate counts in the State data shown above; the number of beneficiaries and the amount of payments include all veterans whethe
or not the payments supplement benefits under either State or railroad insurance programs.
SURVEY OF CURRENT BUSINESS
S-14
May 1055
1954
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
March
April
May
June
July
1955
August
Septem- October Novem- December
ber
ber
January
February
March
April
EMPLOYMENT AND POPULATION—Continued
WAGES
Average weekly gross earnings (U. S. Department of
Labor) : 9
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 glassware, pressed or blown... do
Primary metal industries
do_-.
Blast furnaces, steel works, and rolling mills
dollars. .
Primary smelting and refining of nonferrous
metals
dollars
Fabricated metal prod, (except ordnance, machinery, and trans, equip )
dollar s
Heating apparatus (except electrical) and
plumbers' supplies...
dollars..
Machinery (except electrical)
do
Electrical machinery
do
Transportation equipment
Automobiles
.._
Aircraft and parts
Ship and boat building and repairs
Railroad equipment __ . . _.
Instruments and related products
Miscellaneous mfg. industries
.
Nondurable-goods industries
Food and kindred products
Meat products
Dairy products
Canning and preserving.
Bakery products
Beverages
Tobacco manufactures
Textile-mill products
Broad-woven fabric mills
Knitting mills
Apparel and other finished
64.40
64.96
62.56
r
70. 47
70.49
78.28
do
do
do...
do
textile products
dollars- .
Men 'sand 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
70.92
75 83
79 80
71.06
76 59
80 20
' 62. 83
64.64
71.33
69 50
80 81
65.57
67.10
63 74
72.04
70.77
80 64
82.43
'71.50
76 40
79 40
r 61 86
79.39
81.22
83.22
84.00
78. 01
78 40
79 39
79 60
75.95
75 39
r 76 92
76 92
75 60
76 95
73.10
82.20
' 71. 68
70.66
80. 60
70 56
73.28
81 61
71 50
74.59
r 81 00
72 07
72.34
80 60
71 53
75.14
80 80
72 04
84.21
84.93
84.46
81.95
81.93
72.76
64.00
84.82
87 26
83.43
80.70
80 08
72.07
62 72
85.67
88 34
83 84
80 94
80 85
72.07
63 43
84.59
85 28
84 86
80. 55
81 45
72.83
63 36
84.38
85 06
84 66
80 11
80 60
' 72. 68
r 62 40
85.63
88 00
85.27
81.12
81.79
72.29
r
63 44
64.02
' 67. 70
73.05
69.12
53.95
66.50
77.79
62.87
67 54
72.68
68 85
53. 00
67.08
78 57
63 91
68* 54
74 74
69 01
r 54 86
67 65
78 18
64 74
78.20
r
._
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
Non building construction.. __.
do
Building construction . _
do
Transportation and public utilities:
Local railways and bus linest —
do .
Telephone
do
71.13
76 21
78 80
' 65. 53 ' 66. 63 r 68. 30
65.77
68.80
67.23
61 00
62 17
60 53
' 70. 35 71.10
' 70. 88
68.94
69 45
69 81
77 90
80 70
79 49
79.12
do
_ do
do._ _
do
do
do
_ .do
do
do
do
do
do...
do
__ .do
70.20
75 43
78 21
70.71
76 00
79.19
r
r
64
r 69
75
71
53
68
80
57
14
85
36
27
31
56
51
51
49
48
71
41
63
34
r
79 79
77
71
54
68
82
98
81
77
64
17
51
51
49
47
54
41
52
58
64.68
67 57
76.07
69 55
r
56 03
68 14
78 76
49 67
52 36
50 69
48.88
r 69 31
66.50
67.57
65 67
73.49
72.47
87 29
66.58
*> 66. 17
65 67
74. 57
P 64 48
* 75. 35
88 78
P 89 40
87 30
87 98
90.12
89.95
81.61
81 20
80 70
80 15
80 34
80 73
P go 34
75.20
81 81
72 98
76.92
81.61
T 74 34
75 79
82 01
74 89
76 78
83 44
74 52
75.06
82.82
74 56
76.02
83 64
74 74
84 87
75 11
P 85 49
P 74 56
' 86. 40
89 15
85 68
78.83
78 02
73.82
64 40
87.26
90 54
85 47
r
81 02
'91.12
96 53
87 34
80 22
86 98
74.56
65 21
93.08
99 44
87 77
83 10
88 88
75.33
66 18
92.62
96 75
88.81
82.74
87.82
75.17
65.93
93.28
98 99
87.95
82.95
85 89
76. 14
66 42
94.15
p 91. 76
75.74
66 91
p 76. 14
P 66 66
65 97
70 04
83 03
68 26
r 51 75
68 21
79 00
r 66 47
66.02
70 18
79.65
70 58
54.67
68.28
77 62
ftp
70
76
71
56
68
78
36
07
00
45
15
85
61
66 70
70 24
P 65 74
47 f\n
4Q Q9
c r rj7
14
25
67
37
49 958
55 0
53 33
50 81
"1 65
54 66
r 82 13
74.19
65 21
65
68
77
71
56
68
79
24
48
87
07
30
88
17
65
68
78
70
r 53
68
78
07
30
02
47
13
38
78
48
52
51
49
86
50
08
13
r
49
53
52
50
72
70
14
17
39.10
49 01
' 71. 97
77.47
39.67
49 76
72 83
78.19
40.00
48 53
74 20
79.79
39.76
50 81
74 62
81.47
41.70
53 15
74.98
81.10
86.85
90.68
85.57
76.86
81.20
86.11
92.26
84. 50
77 27
82.62
86.71
93 86
84 46
77 71
82.62
' 87. 32
93 50
85 02
79 10
84.05
86.94
92 01
85 72
79 35
84! 24
91.08
94.87
74 88
84.14
* 49. 48
46.42
93 52
97.17
77 81
88.65
49 21
45.89
93 98
97. 17
79 60
92.06
51 01
47.75
81 40
62 74
76.32
'S3 64
96 20
83.00
r
70 7Q
81 75
RQ 34
55 39
69 12
78 21
50 56
50
54
52
49
47.84
53.63
48.37
55.09
49.01
58.32
48.60
57.87
49.55
59.66
49.85
J> 46. 51
41.84
52 17
75 40
81.97
41.58
50 40
76 01
82.16
41
51
76
81
61
65
18
91
40 91
76 01
82 34
40.68
53 40
75 72
82.16
41.92
54 21
76 08
82.34
76 43
_~ ~.
87.40
91.85
85 10
78 94
83.43
88.39
94.68
85 89
79 52
85.07
87.94
94.32
86.29
78.69
83.64
88.55
94 32
86 90
79 71
84.66
90.09
97 52
88 84
79 90
84 46
88.24
91 52
87 52
79 73
84 25
89.47
93 01
87 96
80 34
84 86
90.79
p89. 86
94 53
97. 51
T 76 44
87.01
51 38
48.73
93 07
96.05
r 75 85
85. 65
51 24
48.71
95 58
97.85
r 77 42
86 18
49 96
46. 68
92.57
95.75
81 20
90.39
49.62
45.62
93 66
97 10
83 02
94 54
T 51 43
47.39
92 57
96 22
T 84 85
98 18
52' 16
49^10
93 02
96 93
83 84
97 41
52 68
49.88
91 25
94 87
r
r
83 64
82 50
82.09
r 83 62
56 88
81 17
83. 41
86.27
87. 54
T 84 85
85 26
88 29
T 87 57
89 86
92 01
00 31
76 88
99 oi
88 20
94 74
94 50
93.98
79.83
r 96 52
97. 21
96. 20
93.02
79.57
90.85
78.59
90.68
76.38
95.49
75.05
89.38
74.05
92 97
94 32
90.85
79.92
95 74
94. 13
96.26
78.26
67.69
77. 33
83.43
78.14
71.60
77.93
85. 49
78.32
72.04
78. 31
86.94
74 34
74 74
74 93
74 74
57 %
41.76
62.09
75. 75
r 57 09
40.83
61.53
74.70
57 18
40.48
60.80
' 74. 70
56 50
40.14
61. 34
74.70
83 42
73 58
75.39
90.63
78.58
95 63
96. 56
95.72
92.57
80.46
T q6 01
* 97. 71
95.20
78.51
68.60
77. 15
83.83
r
no 04
r
CO
CFj
DO
Q9 Q7
*> 95. 53
Oo" A A
96 46
53 93
51.59
54 04
v 83.03
"~
Q4 °.9
r QA. 9ft
94 30
94 15
89 47
95 40
85 01
93 02
88 31
91 96
77.78
72.65
76. 78
85.28
79.49
70.74
77.00
84.87
79.37
70.98
76.82
84.66
75 89
78.63
(59. 63
76. 82
84.25
75 14
56 88
41.92
61.44
76.37
57 57
41.65
61. 18
75. 68
57 ^
41.07
61.02
76.91
80.77
80.77
81.59
72.76
73.16
73.93
73.93
74.34
55.91
40.13
59. 75
73.26
55. 91
' 40. 12
59.75
74.76
56.41
'T 40. 25
59. 66
75.75
57.38
41.30
60.92
76.37
58.51
42.35
62.57
76.37
56.47
56.76
57.19
57.09
57.66
57.75
57.71
58.02
58 11
58 51
58 97
59 02
39.81
39.62
Clean ing and dyeing plants
do
46.26
9
Revised.
*> Preliminary.
9 See corresponding note on p. S-ll.
JRevised series. See note marked "J" at bottom of p. S-13.
50.40
40.13
40. 30
47.32
39.81
40. 50
49.20
40.03
40.00
45.78
40.13
39.40
45. 46
40.64
40.50
47.24
40.87
40.50
47.72
41.16
40.40
46. 77
41.38
40.70
47.01
41.26
40.40
46.41
40.96
40.20
45.22
r
OT)
84 9P;
79.10
67.34
77. 15
82.40
79
53 59
77. 58
66.09
Gas and electric utilities
do
Wholesale and retail 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
Finance, insurance, and real estate:
Banks and trust companies
.
do
Service and miscellaneous:
Hotels, year-round
.
do._
p RQ
53 20
50 82
T ^4 n'-i
77.33
65.70
77.94
67.38
r> 81 4J
81 00
41.15
54.93
72.83
78.99
r
66.34
66.75
63 99
73.49
72.31
87.26
80 60
48.82
57.35
90.45
94.58
75.08
77.88
r 93 24
94 50
89. 60
' 94. 19
' 93. 91 94.69
66.91
66 67
65 83
73.98
73 08
85 60
r 79 52
48.87
57. 05
90.45
74.22
93 24
90.12
94.28
68.64
68.89
64 62
' 74. 57
72 91
84 53
78 53
47.17
56.80
r
» 74. 77
P 80 97
80 40
46. 55
55.08
' 80. 99
64.45
71.67
75.30
81 56
82 01
79 59
46.07
52.97
82. 42
63.74
73.06
74.74
80 56
82 22
77 74
r
45.62
52.64
r
73.97
80 16
81 20
84 45
49.59
57.32
98
10
97
65
74.12
80 15
82 21
84.90
49 01
50 46
48.73
r 46. 73
49
51
48
47
73.57
79 15
81 81
72.22
77 97
81 41
' 67. 40 r 69. 72
70.06
70 81
64 46
65 10
72.85
73.34
71.53
72 25
82 39 r 82 86
47 52
52. 06
50.16
48.71
90.45
94.47
74.31
80.89
52.40
49.98
r
r
71.86
77 39
80 60
74 96
-
SUEVEY OF CURRENT BUSINESS
Mav 105i
S-15
1955
1954
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
March
April j
1
May
June
July
August
Septem- October Novem- December
ber
ber
January
February
March
April
EMPLOYMENT AND POPULATION—Continued
WAGES— Continued
Average hourly gross earnings (U. S. Department of
of Labor): 9
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 glassware, pressed or blown
do
Primary metal industries
do
Blast furnaces, steel works, and rolling mills
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
1.79
1.90
1.97
1.80
1.90
1.97
1.81
1.91
1.97
1.81
1.91
1.98
1.80
1.91
1.99
1.79
1.91
2.00
1.81
1.93
2.01
1.81
1.93
2.01
1.83
1.94
2.01
1.83
1.95
2.02
1.84
1.96
2.03
1.85
1.96
2.03
1.85
1.97
2.03
"1.86
"1.97
»2. 01
1.61
1.60
1.56
1.74
1.78
2.06
••1.63
1.62
1.56
1.75
1.80
2.05
'1.67
1.66
1.56
1.76
1.79
2.07
'1.67
1.67
1.57
1.75
1.79
2.08
'1.54
1.55
1.57
1.77
1.81
2.11
1.58
1.59
1.57
1.77
1.81
2.10
'1.66
1.68
1.58
1.79
1.82
2.14
'1.68
1.69
1.58
1.78
1.82
2.13
1.67
1.66
1.58
1.81
1.86
2.14
.64
.63
.59
.80
.85
2.14
1.63
1.64
1.58
1.81
1.84
2.16
1.63
1.64
1.59
1.81
1.83
2.15
1.62
v 1. 65
1.59
1.81
* 1.60
"1.82
2.16
"2.17
2.15
2.14
2.16
2.19
2.24
2.21
2.27
2.24
2.25
2.25
2.27
2.26
1.96
••1.96
1.96
1.97
2.00
1.98
2.02
2.01
2.00
2.00
2.01
2.01
1.88
1.88
'1.89
1.89
1.89
1.90
1.91
1.92
1.93
1.94
1.95
1.95
1.95
"1.95
1.86
2.00
'1.81
1.84
'1.99
1.80
1.86
2.01
1.81
1.86
'2.00
1.82
1.85
2.01
1.82
1.86
2.01
1.81
1.88
2.03
1.82
1.89
2.03
'1.84
1.89
2.03
1.84
1.91
2.04
1.84
1.91
2.03
1.85
1.91
2.04
1.85
2.05
1.85
"2.06
"1.85
2.10
2.15
2.06
2.08
2.09
1.81
1.60
2.11
2.16
2.06
2.08
2.08
1.82
1.60
2.11
2.16
2.06
2.07
2.10
1.82
1.61
2.12
2.17
2.08
2.06
2.11
1.83
1.60
2.12
2.17
2.08
2.07
2.11
'1.84
' 1. 60
2.13
2.20
2.09
2.08
2.13
1.83
'1.59
'2.16
2.24
2.10
2.08
2.12
1.85
1.61
2.16
2.23
2.10
'2.11
'2.15
1.85
1.61
2.18
2.25
2.12
2.10
2.18
1.85
1.61
2.19
2.26
2.12
2.12
2.20
1.86
1.63
2.20
2.25
2.14
2.10
2.19
1.87
1.64
2.20
2.26
2.14
2.10
2.18
1.88
1.64
2.21
"2.19
1.87
1.64
"1.88
"1.65
1.65
1.68
1.84
1.60
1.47
1.63
1.94
1.65
1.68
1.84
1.59
1.46
1.64
1.94
1.66
1.68
1.85
1.59
1.44
1.65
1.94
1.66
'1.67
1.85
1.60
1.38
1.65
1.96
1.66
'1.67
1.87
1.61
1.39
1.67
1.98
1.65
1.64
1.86
'1.62
1.38
1.67
1.94
1.66
1.65
1.89
1.63
1.38
1.68
1.95
1.66
1.67
1.88
1.62
1.38
1.68
1.95
1.67
'1.70
1.94
1.61
1.41
1.68
1.98
1.67
1.71
1.91
1.62
1.45
1.69
1.98
1.68
1.72
1.91
1.63
1.45
.69
.97
1.68
1.73
1.90
1.65
1.47
1.70
1.98
1.68
1.73
v 1.69
"1.73
Tobacco manufactures
-_ do _
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-do
Newspapers. _
do
Commercial printing
do
Chemicals and allied products
do
Industrial organic chemicals
do
1.32
'1.37
1.32
1.32
1.35
1.36
1.31
1.32
1.34
1.37
1.32
1.32
1.35
1.36
1.32
1.31
1.36
1.36
1.31
1.30
1.29
1.36
1.32
1.30
1.24
1.36
1.32
1.31
1.24
'1.37
1.32
1.31
1.29
1.37
1.32
1.32
1.30
1.37
1.32
1.32
.33
.37
.32
.32
1.34
1.38
1.33
1.33
1.37
1.37
"1.39
"1.37
1.37
1.61
1.33
1.60
1.32
1.61
1.33
1.62
1.34
1.60
1.35
1.63
1.36
1.62
1.34
1.63
1.34
1.63
1.35
1.62
.35
.63
1.35
1.63
1.34
"1.31
1.14
1.53
1.73
1.82
2.25
2.54
2.15
1.87
2.02
1.13
1.45
"1.73
1.81
2.26
2.57
2. 15
1.88
2.05
1.14
1.43
1.73
1.81
2.27
2.60
2.16
1.90
2.04
1.13
1.44
1.75
1.83
2.27
2.59
2.18
1.92
2.05
1.12
1.49
1.76
1.86
2.27
2.57
2.17
1.94
2.08
1.13
1.51
1.76
1.86
2.27
2.58
2.16
1.93
2. 06
1.14
1.53
1.77
1.88
2.29
2.63
2.18
1.93
2.08
1.13
1.50
1.78
1.88
2.29
2.62
2.19
1.91
2.06
1.14
1.48
1.78
1.87
2.30
2. 62
2.20
1.93
2.07
1.13
1.50
1.78
1.88
2.31
2.65
2.21
1.93
2.06
.13
.50
.79
1.88
2.31
2.60
2.21
1.94
2.07
1.13
1.51
1.79
1.88
2.33
2.62
2.21
1.95
2.08
1.79
"1.81
2.34
"2.34
1.94
"1.96
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 _
NTon manufacturing industries:
Mining:
Metal
-do
Anthracite
_
do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas prod
dollars..
Nonmetallic mining and quarrying
do
Contract construction
do
Nonbuilding construction.
do
Building construction
do _._
Transportation and public utilities:
Local railways and bus lines t
do
Telephone
do
Telegraph
.
do
Gas and electric utilitiesdo__Wholesale and retail trade:
Wholesale trade
do
Retail trade (except eating and drinking places)
dollars..
2.25
2.35
1.93
2.21
1.39
1.34
2.26
2.36
1. 93
2.22
r
1. 39
1.33
2.27
2.37
1.96
2.25
1.39
1.33
2.27
2.37
1.98
2.29
1.39
1.33
2.30
2.39
••1.94
2.26
1. 37
1.31
2.27
2.36
' 1.94
2.29
1.37
1.32
2.32
2.41
'1.97
2.25
1.38
1.33
2.28
2.37
2.01
2.30
1.39
1.33
2.29
2.38
2.02
2.34
'1.39
1.32
2.28
2.37
'2.03
2.36
1.38
1.32
2.28
2.37
2.03
2.37
1.39
1.33
2.27
2. 36
2.04
2.37
1.39
1.34
2.29
"2.33
2.04
"2." 04
1.40
"1.41
2.04
2.49
2.46
2.04
2. 46
2.48
'2.04
2.47
2.47
2.06
2.65
2.50
2.07
5! 48
2.05
2.50
2.48
2.08
2.41
2.49
2.08
2.53
•2.48
2.09
2. 53
2.48
2.10
2. 56
2.48
2.11
2.41
2.48
2.10
2.61
2.50
2.25
1.73
2.52
2.28
2.58
2.29
1.75
2.52
'2.32
2.58
2.26
1.75
2.51
'2.31
2.58
2.28
1.78
' 2.52
'2.31
2. 58
2.27
1.77
'2.54
2.32
2.60
2.28
1.78
2.55
2.33
2.62
2.26
1.78
2.56
2.33
2.63
2. 26
1.77
2. 57
2, 34
2.63
2.25
1.76
2. 59
2. 33
2. 65
2.29
1.77
2. 59
2.31
2. 65
2.24
1.78
2. 59
2.33
2. 65
1.79
1.72
1.79
1.97
1.80
1.73
1.80
1.97
1.80
1.75
1.80
1.99
1.81
1.74
1.85
2.00
1.83
1.75
1.85
2.02
1.82
1.74
1.85
2. 02
1.83
1.79
1.86
2.05
1.83
1.81
1.86
2.07
1. 83
1.83
1. 85
2.06
1.84
1.80
1.86
2.05
1.85
1.79
1.86
2. 06
1.85
1.82
1.86
2.07
1.81
1.82
1.83
1.83
1.84
1.84
1.85
1.85
1.85
1.86
1.86
1.86
1. 13
1. 56
1.68
1.45
1.16
1.57
1.71
1.46
1.17
1. 57
1.72
1.47
1.17
1.58
1.72
'1.46
1.16
1.58
1.71
' 1.46
1.16
1.59
1.69
1.47
1.16
1.60
' 1.69
1.46
1.16
1.61
1.69
1.44
1.13
1.60
1.72
1.48
1.18
1.61
1.72
1.48
1.17
1.61
1.74
2. 021
3. 190
2.025
3.190
Transportation equipment
--Automobiles.. ___ _
Aircraft and parts
Ship and boat building and repairs
Railroad equipmentInstruments and related products
Miscellaneous mfg. industries...
Nondurable-goods industries
Food and kindred products
Meat products ._ _ . _
Dairy products...
Canning and preserving
_
_
Beverages
--do
do
.-do
do
do -..
do.. — do
-do
do
do
do
do
do
2.25
1.73
2.52
2.27
2.59
1.43
1.14
1.56
1.65
Food and liquor stores
do
Automotive and accessories dealers
do
Service and miscellaneous:
Hotels, year-round
do.
Laundries
do
Cleaning and dyein<T 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
r
T
r
.95
1.00
1.18
.95
1.01
1.20
.96
1.00
1.18
.95
1.00
1.20
.96
LOO
1.18
.96
1.00
1.19
.97
1.01
1.19
.98
1.00
1.19
.98
1.01
1.19
.99
1.01
1.19
.98
1.01
1.19
.98
1.01
1.19
1.944
3.100
1.947
3.100
1.964
3.112
1.979
3.133
1.997
3. 147
2.009
3.148
2. 016
3.169
2.019
3. 180
2.022
3. 184
2.022
3.186
2.022
3. 188
2.019
3.188
1.902
.84
1. 913
1.46
1. 939
1.916
.87
1.932
1.51
1.919
1. 937
75
1.944
1 58
1.942
1.928
88
1.949
1.64
1.977
1
killedje^bSed$3 2 * Preliminary -
?See
r
corresponding note on p. S-1L
t Revised series. See note marked "t" at bottom of p. S-13.
.85
§ Rates as of May 1, 1955: Common labor, $2.050;
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March | April
Supplement to the Survey
May 1055
1955
1954
June
May
DecemOctober NovemAugust September
ber
ber
July
i
January
f
February
March
April
FINANCE
BANKING
Acceptances and commercial paper outstanding:
Bankers' acceptances
mil. of dol__
Commercial paper ©
do _._
Agricultural loans and discounts outstanding of agencies supervised by the Farm Credit Adm.:
Total
mil ofdol
Farm mortgage loans total
do
Federal land banks
do
Land Bank Commissioner
do
L/oans to cooperatives
do
Other loans and discounts
do
580 !
735
623
694
616
641
589
679
312
772
2. 368
1^257
1 242
15!
304
808
319
822
325
814
14|
339
767
149,812 163, 501
59, 535 64, 965
31,159] 33, 785
154, 848
61, 155
31, 556
151,. 504
58, 316
31, 526
589
747
I
2,271
1,228
1,212
16
350
693
335
734
- - do ._
do
do _ -
171,354
67, 913
36,666
154,759
60, 479
33,152
Federal Reserve banks, condition, end of month:
Assets total
mil ofdol
Reserve bank credit outstanding, total
do
Discounts and advances
do
United States Government securities
do
Gold certificate reserves
- - __do _ -
50, 704
25,316
147
24, 632
21,278
50, 089
25, 382
172
24,632
21,283
50,494
25, 781
245
24,812
21, 293
50, 759
25, 642
37
25, 037
21, 239
49, 746
25, 183
184
24, 325
21, 220
50, 704
20, 773
19, 194
505
25, 487
46.0
50. 089
20, 898
19, 528
684
25, 472
45.9
50, 494
21,143
19, 563
672
25, 544
45.6
50, 759
20, 808
19,011
599
25, 588
45.8
51, 812
54, 108
53, 930
52, 824
4,232
3,838
19, 050
54, 488
4,308
2,671
19, 124
17, 771
1,087
13,017
38, 738
Bank debits, total (345 centers) t
New York City
6 other center So*
-
-
Liabilities, total
do . .
Deposits, total
do
Member-bank reserve balances
do
Excess reserves (estimated)
do
Federal Reserve notes in circulation
do
Reserve ratio.. _ __ _
percent _
Federal Reserve weekly reporting member banks,
condition, Wednesday nearest end of month :J
Deposits:
Demand, adjusted
mil ofdol
Demand, except interbank:
Individuals, partnerships, and corporations
mil. of doL.
States and political subdivisions
do
United States Government
do
Time except interbank total
c*o
Individuals, partnerships, and corporations
mil. of doL_
States and political subdivisions
do
Interbank (demand and time)
- do _ _
Inv°stments, total
do
U. S. Government obligations, direct and guaranteed, total
mil of dol
Bills
. _
do .
Certificates
_ ___ .. _ _ _ do
Bonds and guaranteed obligations
do
Notes .
_
__ _ . do __
Other securities
do
Loans (adjusted), totalQ,
_
-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
Other loans
_ _
do
Money and interest rates: §
Bank rates on business loans:
In 19 cities
_ __
__
percent .
New York City. _
_ . _ do .
i
609
803
563
794
687
762
768
769
*> 381
1,275 _.
l,261i
873
733
1
2, 305
1 293
1.281
13
364
648
869
713
807
681
355
696 i
2, 434
1.3471
1, 336
12
339
747
369
703
377
658 i
149, 898
56, 744
30, 922
152,322
156, 843
58, 787
49, 174
24, 696
200
24, 023
49, 778
25, 183
132
24, 271
21, 129
50, 035
25, 401
297
24, 381
50, 872
25, 885
143
24, 932
21, 033
49, 626
475
23, 885
21,079
50, 863
25, 944
398
24, 888
21, 030
21,038
49, 442
24, 769
485
23, 605
21, 032
49, 434
24, 667
391
23, 613
21, 027
49, 913
24,988
560
23, 612
20, 985
49, 746
20, 454
18, 702
939
25, 567
46.1
49, 174
19, 805
50, 035
20, 373
18, 722
471
25. 706
45.7
50, 863
20, 457
18, 985
518
26, 081
45.2
50, 872
20, 371
18,876
258
26, 253
45.1
49, 626
20, 138
18, 918
581
25, 640
46.0
49, 442
19, 879
18, 562
471
25, 609
46.2
49, 434
19, 806
744
25, 566
46.5
49, 778
20, 264
18, 676
952
25, 601
46.4
18,283
M12
25, 528
46.4
49, 913
20, 158
18, 495
p 353
25, 496
46.0
53, 319
54, 949
54, 066
55, 043
55, 472
56, 414
58, 445
57, 639
56, 270
55, 590
56, 969
54, 597
4,418
2,982
19, 359
54, 71 5
4,329
4,085
19, 637
55, 360
4, 033
2,091
19, 808
54, 746
3, 939
3, 247
19, S87
55, 884
3, 756
2, 605
57, 256
57, 876
3, 956
19,915
60,117
3,939
2,597
20, 122
19, 941
20, 169
58,317
4,232
2,320
57, 762
4,223
20, 198
20, 280
56, 474
4,062
2,534
20,329
57, 921
4,216
3, 105
20, 319
17, 854
1,078
12,794
40,177
18, 041
1,129
13,040
41,300
18, 304
1, 146
13, 870
41, 945
18, 337
1, 285
13, 406
42, 492
18, 433
1, 257
13, 772
44, 237
18,520
1,195
13, 791
44, 194
18, 699
1,220
14, 301
46, 088
18, 555
1,183
14,113
45, 669
18, 806
1,154
14, 273
45, 526
18, 864
1,126
13, 651
44, 783
18, 930
1, 145
13, 402
43, 590
18, 990
1,132
13, 085
41, 932
18, 969
1,142
12,988
42,960
30, 850
2,076
2,737
21,388
4, 649
7,888
39, 076
22, 763
1,758
32,160
2,987
3,045
21, 598
4, 530
8,017
38, 441
22,183
1,744
33, 196
2,428
2.684
21, 502
6,582
8,104
38, 324
21, 599
2,141
33, 724
2,619
2,777
21, 654
6,674
8,221
38, 950
21, 884
2,379
34, 221
35, 862
3, 135
2. 559
23, 515
6, 653
8, 375
37, 967
20, 798
35, 696
2, 868
2, 504
23, 654
37, 358
2, 500
2, 369
23, 801
37, 106
36,902
35, 799
34, 599
1,816
1,633
22, 076
38 495
8, 730
38, 844
32, 885
1,286
1,117
21, 806 '
8,676
9,047 ;
41, 523 •
22, 707 i
2,483 |
33, 983
1,750
1, 911
21, 682
8, 640
8, 977
41,818
22, 545
2, 660
847
6,522
7,825
849
6,553
7,753
915
6,592
7,721
899
6,671
7,772
875
6,718
1,113
7,474 i
8,453
1, 108
7, 570
8,652
3.72
3. 50
3.74
4.03
1.75
2. 50
4.17
21,117
18,316
3,045
2,754
21, 742
6,680
8,271
38, 254
21, 524
2,005
2,228
904
6, 831
7, 866
7,787
3.60
3.34
36]
3.981
1.50
2.08
4.17
i
:
6,670
8,498
58, 792
30, 706
3,865
3,793
8,688
2, 403
21,104
2,466
941
991
21,015
6.902
7,893
3.56
3.29
3 57
3 95
1.50
2.00
4.17
6,997
7,949
32,230
2,378
2, 240
23, 936
8, 552
8, 563
40, 114
22, 214
186, 317
73,817
38, 217
2, 543
2,768
23, 391
8,200
8,624
368
662
831
703
163, 388 ' 149, 738! 178, 914
62, 642
57,091 67, 242
33, 531
31, 595
39, 908
24,960
2,065
2,551
23, 102
8,081
8,984
41, 008
22, 48f
2,367
2,688
40, 576
22, 054
2, 582
1,037
1,113
7,176
8, 205
1,056
7, 279
8,311
7,083
8,075
3. 55
3. 3(
3.55
3.90
1.50
1.9C
4.17
3,960
2,633
9,074
8,991
40, 826
22, 351
2,374
1,080 1
7,359
8,373
158, 289
57,634
34, 494
3.54
3. 2(
3.55
3 87
1. 5 0 _ .
1.79
4.17
l
1.38
1.69
3.00
. _ !
11 southern and western cities
do
1.50
1.50
1.50
1.50
1.50
1. 50
1. 50
1.50
Discount rate (N. Y. F. R. Bank")
do
2.08
1.96
2.50
2.04
1.79 i
2.00
2. 00
1. 79 :
Federal intermediate credit bank loans
do
4.17
4.17
4.17
4.17
4.17
4.17
4.17
4.17
Federal land bank loans
do
Open market rates, New York City:
1.48
1.25
1.25
1.25
1.25
l.?5
1. 25
1. 25
1. 25
1.25
1.33
Acceptances, prime, bankers' 90 days
do
1.43
1.38
1.76
2.00
1.58
1.56
1.31
1.45
1.31
1.47
1.33
1.31
1.31
Commercial paper, prime, 4-6 months
do
2.00
1.6S i
3.00
3.13
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3.00
3. Of
3. )(
3.00
Call loans, renewal (N. Y. S. E.)
do
3.01
2.88
2. 88
2.88
2.88
2.88
2.88
2.88
2.88
2.88 j
2.88
Time loans, 90 days (N. Y. S. E.)
do
2.88
Yield on U. S. Govt. securities:
1.174
1.
053
1.
Oil
.782
.
650
.892
.710
.948
1. 257
.987
1.
007
3-month bills
do
1.177
1.620
1. 335 !
1.80
1.71
1.78
1.79
1.74
1.69
!.«
2.11 |
1.90
1.80
1. 85
3-5 vear taxable issues
- . . do_
2.18i
2. 39
2.30 ;
Savings deposits, balance to credit of depositors:
15,475
14, 651
14, 694
14, 768
14,914
14, 993
14, 943
15, 252
15, 112
15, 150
15, 558 ! 15. 604 !
New York State savings banks
mil. of dol__
15, 764
15, 770
2, 291
2,272
2,251
2,310
2,209
2,230
2,172 * 2, 1 54 » 2, 137 f 2,115
2,189
v 2, 095 ! » 2, 074
U. S. postal savings
do
CONSUMER CREDIT (Short- and Intermediateterm)
27, 833
28, 095
28, 372
28, 666
30, 125
28, 725
28, 736
28, 856
29, 518
29. 76(
29, 948
28, 975 i 29, 209
Total outstanding, end of month?
mil. ofdol..
21, 426
21, 381
21, 487
21,717
21, 849
22, 46"
22. 508 I 22, 974
21, 935
21, 901
21,952 22,014
22, 43€
Installment credit, total 9
do
9,942
9,919
10, 002
10, 168
10, 349
10, 641 !
10, 298
10, 365
10, 39(
10, 296
10, 340
11,053
Automobile paper
do .
10, 45S
5,413
5, 443
5, 32S
5, 370
5, 367
5, 668
5, 294
5,484 I
5, 324
5, 398
5, 287
5, 60«
Other consumer-goods paper
do
5, 47? ! _ _
1,614
1,617
1, 634
1, 635
1, 642
1,637
1.642
1,61(
1. 637
1, 631
1,574
1.55C
Repair and modernization loans, _
_ do _
1, 53C !"
4,454
4,405
4,481
4, 547
4,586
4,787
4,616
4,641
4, 689
4, 65]
4, 794
4, 833 !
Personal loans__
do _
4, 912
By type, of holder:
18, 192
18. 245
18, 325
18, 538
18, 671 i
18, 731
18,719
18,935
18, 753
18, 726
Financial institutions, total
do
18, 977 ! 19, 153 1
19, 613
8,714
8,722
8, 729
8, 783
8. 763 i
8, 586
8, 731
8, 68S
8,633
8. 637
8, 688 i
Commercial banks
do
8, 651 i
8, 844
5, 901
5.944
5, 892
6, 060
6, 189 '•
6. 294
6,315
6, 25P
6, 325
6,421
Sales-fman ce companies
do
6, 57C i
6, 462 i
6, 808
1, 136
1.157
1, 175
1,207
1,228 i
1, 250 !
1, 267 1
1,282
1, 270
1.29?
i
1, 298
Creditunions
•
do
1.282
1, 33C
2,477
2, 450
2, 465
2, 494
2,488
2, 491
2, 504
2. 588
2. 504
2, 52 »
2, 597 i
Other
do
2, f>82 I
2, 631
3,189
3. 162
3.181
3,179
3, 178
3, 170
3. 182
3, 226
3, 295
3, 532
Retail outlets, total
do.__3, 45« !
3, 35f
3,361
1,031
1,032
1,027
1,037
1, 032 i
1, 032
1, 041
1. 063
1,098
1, 201
Department stores
- do_
1. 158
1. 108
1,123
823
829
821
820
821
818
822 1
830
846
89(
Furniture stores. .
do _._
848
862 !
838
368
371
366
379
386
389
390
390 i
390
394
Automobile dealers
do. _ _
404
397 i
420 I
963
958
943
942
943
943
928
Other
do
929 !
961
1,04"
995 i
1,042 '
980 !
r
Revised.
J» Preliminary.
©Revised to cover 11 dealers.
tRevised series. Bank debits have been revised to include additional centers and to represent debits to demand deposits; data for 1943-53 appear on p. 23 of the September 1954 SURVEY.
cT Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.
t Revised beginning 1952 to expand coverage of the series by making a net addition of 8 banks. Revisions for January-May 1952 will be shown later.
QNet loans less loans to banks.
§ For bond yields see p. S-20.
9 Revisions for 1952 appear on p. 24 of the June 1954 SURVEY. Data beginning 1953 have recently been revised to incorporate more comprehensive information; unpublished revisions (for January-September 1953) will be shown later.
SUEVEY OF CUEEENT BUSINESS
May I0r>5
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
S-17
1955
1954
April
July
June
May
DecemOctober NovemAugust September
ber
ber
January
February
March
April
FIN ANC E—Continued
CONSUMER CREDIT (Short- and Intermediateterm)— Continued
Total outstanding, end of month — Continued
Noninstallment credit, total 9
mil. of dol
Single-payment loans
do
Charge accounts
do
Service credit
do
By type of holder:
Financial institutions
do
Retail outlets
_ _ _ do _ _
Service credit
-do
Installment credit extended and repaid: t
Unadjusted:
Extended, total
do
Automobile paper
do
Other consumer-goods paper
do
\11 other
do
Repaid total
do
Automobile paper
_ _ -do _ _
Other consumer-goods paper
do
All other
do
Adjusted:
Extended, total
do
\utomobile paper
do_
Other consumer-goods paper
do
All other
_
do_ .
Ropaid total
do
Automobile paper
do _
Other consumer-goods paper
do
All other
do
6 452
2, 150
2 564
1, 738
6 669
2 181!
2" 723|
1 765 !
6 885
2 313
2 786
1*786
6 949
2 334
2 819
1 796
6 876
2 303
2 773
1 800
6 835
2 312
2 734
1 789
6 921
2 335
2 807
1 779
7 023
2 377
2 892
1 754
7 195
2 407
3 042
1 746
7 658
2 420
3 518
1 720
7 324
2 371
3 225
1 728
7,010
2,427
2,831
1, 752
6,974
2,481
2, 735
1,758
2, 150
2,564
1,738
2, 181
2,723
1 765
2 313
2,786
1 786
2 334
2 819
1 796
2 3031
2, 773i
1 800
2 312
2 734
1 789
2 335
2 807
1 779
2 377
2,892
1 754
2 407
3,042
1 746
2 420
3 518
1 720
2 371
3 225
1 728
2 427
2 831
1 752
2.481
2, 735
1,758
2, 380
1,020
574
786
2, 581
1,111
719
751
2,400
1 038
615
747
2, 355
1,015
645
695 i
2,397
1 047
607
7431
2 336
987
650
699
2,703
1 244
659
800
2 473
1,078
662
733
2,549
1 163
622
764
2,417
1,033
661
723
2 477
1 114
607
756
2 425
1 063
641
721
2 441
1 062
629
750
2 407
1 046
636
725
2,454
1 031
687
736
2,437
1,056
650
731
2 554
1 040
'716
798
2 492
1, 084
642
766
3 046
1 184
936
926
2 593
1 084
666
843
2 389
1 060
'616
713
2 420
'997
675
748
2 416
1 167
529
720
2 344
985
654
705
3,159
1, 569
708
882
2,693J
1, 157
713
823
2,294
957
601
736
2, 456
1, 053
688
715
2, 358
964
644
750
2, 358
1,025
629
704
2,321
984
604
733
2 392
1,010
658
724
2,495
1,114
649
732
2 413
1,056
658
699
2,455
1,060
666
729
2 364
1, 006
667
'691
2 409
1 035
613
761
2 480
1 067
678
735
2 474
1 077
609
788
2 404
1,014
634
756
2,461
1,068
633
760
2,424
1,039
652
733
2 612
1 109
677
826
2 500
1 098
631
771
2 762
1 298
679
785
2 488
l'o83
643
762
2 823
1 233
788
802
2 496
1 020
684
792
2 898
1 382
660
856
2 521
l'071
680
770
3,035
1,472
741
822
2, 562
1, 096
683
783
13, 013
11, 434
44
11,866
954
149
3,956
2,751
52
2, 865
860
179
5,037
3 592
44
3,946
877
170
11,347
10, 644
49
10, 123
834
340
3,148
2, 827
45
2,059
790
254
4,801
3 911
48
3 806
829
119
5, 280
4 951
48
4 277
8S8
117
2,887
2,639
47
1,850
850
140
4 905
4 201
52
3 791
839
224
4 217
3 742
47
3 204
165
4 833
4 655
48
3 638
716
430
5 954
5 427
47
4 857
774
276
11,089
9,741
60
9, 906
995
127
5,555
588
340
3,830
797
5,296
350
383
3,691
872
5 203
249
352
3,374
1,229
7,308
1,763
376
4,663
506
4,827
213
336
3,061
1,217
6 731
332
334
3,370
2,695
5 019
541
321
3 261
897
4,857
346
349
3,300
863
3 842
'368
373
3 316
—215
6 288
l'200
401
3 739
'947
4 942
222
379
3 176
1 166
4 831
396
365
3 048
1,022
5,894
478
386
T> 3, 520
p 1,511
270, 235
267, 823
226, 821
41, 002
2,412
271, 047
268, 855
227, 806
41, 049
2,192
273, 475
271, 280
229, 913
41,367
2 195
271, 260
268, 910
226, 681
42, 229
2,350
270, 984
268, 681
226, 528
42, 152
2,303
274, 955
272, 693
230, 214
42, 479
2,262
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
Expenditures total
Interest on public debt
Veterans' services and benefits
National security
All other expenditures
do
_
do - _
. _. . . do_ __
do
._ - _do_
Public debt and guaranteed obligations:
Gross debt (direct) end of month, total do
Interest bearing, total
_
do
Public issues
do
Special issues
do _ _
Noninterest 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 Iv
do
Redemptions
- do
Government corporations and credit agencies:
Assets, except interagencv, total - _ mil.
Loans receivable total (less reserves)
To aid agriculture
To aid homeowners
Foreign loans
All other
_ _ . _ ..
_
Commodities supplies, and materials
TJ S Government securities
Other securities and investments
of dol
do
do_ .do
do
do do _
do
do -
Land, structures, and equipment.. _. - _.. do. ._
All other assets
_
_ . _ ___ __do-..Liabilities, except interagency, total - Bonds notes and debentures
Other liabilities
Privately owned interest
_ _ __
XT S Government interest
do
do
do
do
do
278, 752
276, 400
234, 161
42, 238
2 352
810
440
033
407
370
278
276
234
42
2
853
511
160
351
342
278 750
275 731
233 165
42 566
3 019
278
275
233
42
2
77
80
80
81
21
27
29
34
34
34
24
58, 106
511
538
58 159
464
510
58, 189
523
628
58, 129
508
693
58, 200
546
562
58 207
464
544
58, 242
456
507
58 299
466
510
58 358
557
633
58 456
742
772
39, 313
19, 877
7,370
2, 858
7,987
1,842
2,696
2,96£
3,425
8, 035 1
2,312
39, 602
18, 489
6, 389
2,814
7,965
1,576
3,369
2.911
3, 439
8,077
3, 317
40, 443
18 603
6, 527
2 818
7,968
1,567
3,709
2 988
3,433
8, 061
3, 649
41 403
19 348
6 929
2 90^
8 001
1,739
3 852
2 967
3 432
8, 04f
3,758
5,944
1,025
4,920
470
32, 899
5, 085
1.052
4, 033
486
34, 030
3,458
1,100
2 358
498
36, 488
5 28
1 10
4 183
508
35 610
278
275
233
42
2
274 048
271, 200
229 103
42 097
2 847
182
565
517
047
617
--
649
924
233
691
725
33
37
58 701
614
605
58 639
535
682
27
58 605
' 602
543
276
273
232
41
2
_
|
1
79, 637
80, 095 !
80, 522
80, 952
81,473
81,921
82, 364 I
82, 852
83,358
45, 051 !
9, 661
l,44fc i
12, 643
3,601
15,077
45, 183 !
9, 635 i
1, 481 !
12, 701 i
3,624 !
15, 076
45, 323
9, 539
1, 598
12, 709
3, 627
15, 171
45, 444
9, 343
1,641
12,819 !
3, 671 !
15, 290 i
i
45, 591
9,189
1,737
12, 868
3, 669
15, 448
45,691 i
9,171
1,754
12, 904
3, 64£
15, 552
45, 811
9,08f 1
1,777
13, OK i
3,641 !
15, 661 1
45, 992 i
9, 024
1, 80f
13, 076 i
3, 696
15,813
46, 032
8,93f i
1,871 !
13, 047 •
3,697
15, 894
84, 068
84,912
85, 324
46, 184
9,02
1,83
13, 06
3,68
16,00
46, 653 1'
9 233
1,94(
13 14(
3, 70f !
16, 063
46, 690
9 242
1,977
13 154
3,719
16 092
2,75f
1 71 £!
1,03( !
26, 222 i
24 17]
2 31C
3, 127 !
1 141
2! 701 1
2,763
i 714
l' 044
26, 474
24 405
2' 344
3 144
1 111
2. 79^
j
Stocks (book value), domestic and foreign, total
2, 457
2,533
2,500
2,574
2,41*
2, 60C
2,64] !
2,611
2, 601
mil. of dol. .i
2,71
1, 56£
1, 592 i 1,621
1, 633
1, 67C
Preferred (U. S.)
do
1, 660
1 66£S
1 667
1 67^5
1 69
861
896
875
84t
Common (U. S.)
do
910
92(>
931)
92S
96C5
1,01
24, 384
23, 761 i 24, 004 i 24, 174
24, 572
Mortgage loans, total
do
24, 79£)
25, 03,)
25, 26C
25, 574
25, 92
!
21,84f
22, OSS
22,212
22, 403
22, 575
Nonfarm
do
23, OK)
22, 78()
23, 23£
23 54C
23 88
2,06,>
2, 08£
2,128
2, 101
2,147
Real estate.
. ..- .. do
2, m> 2, 20,) 2, 241 2 261) 2 27
2,94*
3,002
2, 96C
2,983
3, 041)!
Policy loans and premium notes
-do._ 3,01S
3,061
3, 03f >
3,07^)
3,08
1.03,>
1, 051
1,071
Cash
.
do
1,082
1 09£*i
1, 12C
1 094
1 14
1 07()i
1 20
Other assets
.. .-do
2, 34£
!
2, 35i\
2,35£
2, 45C
2,39C
2,52,)i
2, 57'7
2, 602
2, 63,)
2, 68
r
Revised.
P Preliminary.
9 See note "9 " on page S-16.
\
For
a
description
of these new data and for figures prior to January 1953, see the January and March 1954 issues of the FEDERAL RESERVE BULLETIN.
Digitized§ for
FRASER
Data
are on a budgetary basis.
d* Effective with the April 1955 SURVEY, data in detail for all companies replace those formerly shown for the 49-company series.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
439
696
427
268
743
58, 050
602
598
LIFE INSURANCE
Institute of Life Insurance: d"
Assets, total, ail U. S. life insurance companies
rail, of dol .
Bonds (book value), domestic and foreign, total
mil. of dol. _
U. S. Government.do . _ _
State, countv, municipal (U. S.)
do. _.
Public utility (U.S.)
..do ._
Railroad (U. S.)
do.-..
Ind us trial and miscellaneous (U.S.)
do
274
272
230
42
2
'soi
1
|]_~~_III_
SURVEY OF CUREENT BUSINESS
S-18
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
May 1955
1955
1954
March
April
May
June
July
DecemOctober NovemAugust September
ber
ber
January
February
March
April
FINANCE—Continued
LIFE INSURANCE— Continued
Life Insurance Agency Management Association :
Insurance written (new paid-for insurance) :
Value, estimated totalj
mil. of dol__
Group and wholesale
do
Industrial t
do .
Ordinary, totalf
do _
New England
do
Middle Atlantic
-do
East North Central
do
West North Central
do
South Atlantic
_. _ do _
East South Central
do _
West South Central
. __do
Mountain
do
Pacific
_do-_Institute of Life Insurance:
Payments to policyholders and beneficiaries, estimated total
thous. of doL_
Death benefits
do
IVIatured endowments
do
Disability payments
do
Annuity payments
- do
Surrender values
do
Policy dividends
do
Life Insurance Association of America:!
Premium income (39 cos.), total
do
Accident and health
do
Annuities
_do_ _
Group
do. _ _
Industrial
do. .
Ordinary
do_ _.
' 3, 423 3,182
492
467
'602
••572
' 2, 329 ' 2, 143
155
137
538
515
505
452
201
177
260
249
96
90
216
201
84
75
274
247
' 3, 285 ' 3, 137
602
431
* 607
'555
' 2, 076 ' 2, 151
141
137
480
495
440
452
184
173
251
257
84
87
184
200
72
75
264
251
r
' 3, 153 ' 2, 943 ' 2. 957 ' 3, 071
641
391
400
487
'520
'598
' 547
'535
' 1, 992 ' 2. 005 ' 1, 935 ' 2, 073
123
112
126
125
449
432
440
409
424
443
428
418
174
175
177
177
238
242
257
233
84
87
86
85
185
187
188
188
83
76
76
76
265
245
251
240
10, 270
' 4, 084
7,489
1, 154
'491
'563
' 2, 218 ' 2, 439
146
150
505
536
522
483
181
215
275
286
103
96
191
233
98
78
297
263
3,056
376
503
2,177
156
519
462
178
235
87
212
81
248
3,314
616
529
2,169
149
514
466
177
245
91
200
82
247
473, 850
179, 591
58. 328
10, 588
47, 722
74. 776
102. 845
424, 607
176, 943
51,320
8, 869
38, 307
73, 883
75, 285
3,777
457
573
2,747
186
633
579
223
308
114
272
106
325
461,416 ' 408, 691 377,515
196, 916 '171,064 158, 955
49, 479
45, 376
41,416
1C 241
9 573
8,804
38, 682
36, 458
34, 379
79, 293
72.312
67, 400
86, 805
73, 908
66, 561
427,419
183, 689
45, 644
8,861
37, 859
71,445
79, 921
386, 791
158, 681
40, 535
9,041
39, 763
66, 530
72, 241
380, 859
168, 048
39, 247
8, 648
34. 907
69. 738
GO, 271
394. 119
168. 679
39, 154
8.662
35. 608
67. 885
74, 131
371,915
151,957
44, 863
8.809
35,818
60, 690
63, 778
399, 965
169, 921
49, 254
8,947
38, 626
72, 863
60, 354
525, 998
207, 594
54, 241
9, 795
40, 551
71, 445
142, 372
719. 958
87, 704
87, 719
66, 055
85, 132
393. 348
617, 503
90, 562
78, 299
56, 866
67, 571
324, 205
625, 989
86. 381
77, 683
49, 621
74, 642
337, 662
696, 270
88,165
81, 196
63, 721
83, 043
380, 145
647, 607
90, 063
'9R, 514
64, 886
64, 772
331, 372
628, 936
87, 548
72, 355
55, 141
78, 386
335, 506
659, 684
86 727
79, 638
58. 039
76, 298
358, 982
620, 866
85, 987
71, 771
52, 530
66, 241
344, 337
693, 603
90, 642
83, 558
75, 584
80, 033
363, 786
907, 544
102, 185
175, 582
70, 301
128, 007
431, 469
21, 965
-2.0
3,975
9 397
68, 700
42, 400
12, 900
5,400
21, 969
37.5
1,088
3,517
66, 000
41, 900
12, 500
4,900
21, 973
-48.4
774
2,004
68, 900
43, 200
13,400
5,000
21,927
-16.9
541
3,831
70, 000
43, 300
13, 200
6,100
21, 908
-72. 7
852
2,400
71, 100
44, 300
13, 300
6,100
21,809
-65.4
1,274
2,978
71,400
45, 200
12,900
5, 800
21,810
-34.6
1.065
2,128
21 , 759
—34.6
781
2, 377
21, 710
-36.7
1,203
2,712
21,713
1.8
2, 363
3,024
21,714
-9.7
788
3,016
21, 716
-.8
689
3, 905
21,719
-27.7
674
3,388
44, 900
13. 100
5,100
45, 400
13, 300
5. 600
45, 500
13, 500
5,600
13, 500
5,800
12, 800
5,000
12, 300
4, 800
5, 400
182
6,326
.853
190
4,843
.853
134
5,124
.853
167
5,956
.853
227
7, 146
.853
460
9, 351
.853
262
7,727
.853
196
8, 366
.853
1,144
9,036
.853
233
5, 795
.853
640
4.321
.853
290
6, 351
. 853
2,314
2,299
3,775
2,700
2,328
3,643
2.510
3,494
3,229
2,704
4,672
3,609
2,735
2,283
1,997
2,787
2. 853
2,779
2. 759
3. 236
2. 840
' 2, 427
5,453
3,117
2, 793
1,982
3, 366
2,347
3,029
3, 169
' 2, 160
4,908
3,416
1,937
29, 707
205, 100
3,000
6,900
29, 735
206, 200
3,100
5,800
29, 870
207, 600
3,100
6, 400
29, 922
29, 985
30, 500
29, 817 ' 29, 800
30, 509
29, 789
29, 892
30, 074
29, 929
209, 354 P 209, 100 P 210, 500 p 21 1,800 * 215, 400 P 217, 300 P 218,700 P 21 7, 600 p 216, 000 P 214, 600
3,256 * 3, 400 » 3, 400 p 3, 300 v 3, 200 P 3, 200 P 3, 400 p 3, 200 p 3, 100 p 3, 200
P 8, 200 P5, 900 p 5, 000 P 5, 900 P 6, 100
7,581 P 5, 200
P 6, 900 p 6, 000 p 7, 500
195, 200
96, 700
71, 700
26, 900
197, 300
98, 600
72, 000
26, 700
198, 000
98, 700
72, 500
26, 800
198, 517
98, 132
73, 292
27, 093
P 200, 400
v 100, 000
*> 73, 700
* 26, 800
* 200,300
P 99, 400
» 74, 000
* 26, 900
v 202, 500
v 101, 200
* 74, 400
v 26. 900
v 204, 800
p 103, 100
T 74, 700
v 26, 900
p 205. 800
p 104, 100
P 74, 300
p 27, 500
44.6
29.2
19.7
41.3
27.6
18.8
41.9
25.5
18.8
44.2
26.8
19.7
41.6
24.9
18.8
40.0
24.8
18.5
40.4
25.3
19.4
39.3
23.6
18.6
42.2
26.3
20,7
i 2,174,366
i 286, 266
1
298, 036
1232,2101
1251,671
i 1,106,183
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, U S
Net release from earmark§ .
Exports
_.
mil. of doL
..do. ._
thous. of dol
Production, reported monthly total
do
Africa _
_
-do _
Canada
do
United States
do .
Silver:
Exports
do
Imports
do
Price at New York
dol. per fine oz.
Production:
Canada, t _., _
- _
thous. of fine oz._
Mexico
do
United States
- - . -do .
Money supply:
Currency iri circulation
- - _ _ . .. .mil. ofdoLDeposits and currency, total
do
Foreign banks deposits, net—
do
U. S. Government balances
_
..do.--.
Deposits (adjusted) and currency, total
do
Demand deposits, adjusted..
.
do ..
Time deposits
do
Currency outside banks _ . _
do ._.
Turnover of demand deposits except interbank and
U. S. Government, annual raterf
New York City
ratio of debits to deposits
6 other centers 9
do
338 other reporting centers
._
do
r
2,753
P 209, 400 p 209, 400 P 206, 900
P 106, 900 p 107, 200 p 104, 500
P 75, 100 P 75, 400 P 75, 700
P 27, 400 P 26, 800 p 26, 800
48.1
28.1
21.0
42.0
25.4
19.6
41.9
'26.4
'19.6
1,695
5,840
.873
.871
3,560
p 205, 300
p 102, 400
P 76, 200
v 26, 700
41.7
*30. 1
'19.6
37.3
27. 2
19.6
PROFITS AND DIVIDENDS (QUARTERLY)
Manufacturing corporations (Fed. Trade and SEC):*
Net profit after taxes, all industries
mil. of doLFood and kindred products
.do. ._
Textile-mill products. ._
_ _ - _. . - d o _ _ _
Lumber and wood products (except furniture)
mil. of dol. Paper and allied products
-do
Chemicals and allied products
do
Petroleum refining
.. _.
do . .
Stone, clay, and glass products
do
Primary nonferrous metal _ _
-do
Primary iron and steel
do
Fabricated metal products (except ordnance,
machinery, and transport, equip.) mil. of dol__
Machinery (except electrical)
do
Electrical machinery
_ _ ._ _ do __
Transportation equipment (except motor vehicles,
etc.) .mil. of dol
Motor vehicles and parts
do
All other manufacturing industries
do _
2,595
174
32
2,922
234
16
2. 658
252
29
3, 057
223
37
14
114
282
543
68
99
167
42
122
303
520
135
121
185
43
116
287
505
147
106
146
57
127
327
662
116
134
230
84
229
173
116
253
162
113
196
146
81
175
203
90
291
236
110
340
265
97
191
286
105
275
305
1,302
Dividends paid (cash), all industries
do
1,298
1.338
2,002
Electric utilities, net profit after taxes (Fed. Res.)
r
324
mil. of doL.
268
v 28S
264
Railways and telephone cos. (see pp. S-23 and S-24).
|
'
1
l
Revised.
p Preliminary.
Quarterly total.
{Revisions to be shown later are as follows: Insurance written—total and ordinary, annual totals for 1947-50 and monthly data for 1951-February 1953; industrial insurance monthly
data for 1953-February 1954; premium income for 1951 and 1952; silver production for 1953.
*
'
§ Or increase in earmarked gold (—).
tRevised series, reflecting change in number of reporting banks and centers. Data for 1943-53 for New York City appear on p. 23 of the September 1954 SURVEY; those for other centers will
be shown later.
9 Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.
* New series. Compiled jointly by the Federal Trade and Securities and Exchange Commissions. Data are estimated totals based on reports from all manufacturing corporations registered
with SEC, all nonregistered manufacturing corporations with total assets of $5,000,000 and over at the end of 1949, and a sample of nonregistered manufacturing corporations with total assets of
Digitized for
lessFRASER
than $5,000,000 at the end of 1949. Comparable data for 1951-53 appear on p. 27 of the December 1954 issue of the SURVEY.
S-19
SURVEY OF CURRENT BUSINESS
May 1955
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
1955
1954
April
May
June
Septem- October Novem- December
ber
ber
August
July
February
January
March
AprU
FINANCE—Continued
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
Federal agencies
do
Municipal State etc
do
Foreign
do
Refunding total
do
Domestic, total
do
Corporate
do
Federal agencies
do
IVtunicipal State etc
do
Securities and Exchange Commission:!
Estimated gross proceeds total
do
By type of security:
Bonds and notes total
do
Corporate
do
Common stock __
do
Preferred stock
do
By type of issuer:
Corporate total
do
Manufacturing.
do
Morning
do
Public utility _ _ _
do
Railroad
do
Communication
do
Real estate and
financial
do
Noncorporate, total _
do
U S Government
do
State and municipal
do
New corporate security issues:
Estimated net proceeds, total
do
Proposed uses of proceeds:
New money, total
do
Plant and equipment
do
Working capital
do
Retirement of securities
do
Other purposes
do
Proposed uses by major groups:
Manufacturing, total
do
New money
do
Retirement of securities
do
Mining, total _
__
do
New money
do
Retirement of securities
do
Public utility, total
do
New money
_
_
do
Retirement of securities
do
Railroad, total
do
New money
do
Retirement of securities
do
Communication total
do
New money
do
Retirement of securities
do
Real estate and financial, total
do
New money
do
Retirement of securities
do
State and municipal issues (Bond Buyer):
Long-term
thous. of dol__
Short-term .
_
do
1 304
l'l67
1 087
490
39
557
81
136
136
71
58
7
1 537
1 346
1 329
'485
1,913
1.947
114
730
17
191
191
112
76
3
1 699
513
144
69
1 726
726
110
29
367
16
31
90
1,186
602
522
628
88
41
314
31
26
52
408
111
110
1,319
511
735
1 838
1 342
1 334
' 536
1 921
1 754
1 715
1 632
1,053
1 046
47
751
8
495
482
179
268
34
859
31
826
39
167
167
96
45
26
731
32
282
7
579
579
396
181
2
4,386
2,438
2,151
2 189
1,991
1,077
4 184
783
605
546
267
0
279
59
178
178
76
85
17
1 706
1 311
1 311
1,298
2,131
6,547
1,366
1 224
2 010
6 230
'817
1 263
1 133
1,011
-188
615
437
113
61
66
51
75
32
929
466
459
1, 117
o
783
443
124
15
161
13
27
16
854
546
300
1,014
523
855
532
72
314
43
2
192
914
508
280
850
208
36
507
1
41
27
3,537
2 669
1 057
311
76
448
9
160
1,381
87
74
1,237
687
667
223
0
444
20
364
364
267
91
6
395
395
285
96
14
611
64
636
893
62
59
808
118
131
1 051
795
13
597
18
401
401
179
216
7
369
30
44
647
73
130
1 825
1 424
1 405
154
43
252
130
331
48
1, 117
464
652
284
52
308
36
275
45
99
268
5,414
4 611
_
2,544
' 2, 706 ' 1, 431
2,552
2 386
' 2, 518 ' 1, 294
'484
'364
135
'53
'113
25
2, 003
871
512
37
557
906
''672
' 190
'20
'242
'64
'7
'98
2,034
742
541
'501
'86
' 13
'111
1
'45
'149
'930
602
'328
1,420
644
49
226
25
27
386
1,132
614
509
428
996
'660
'492
1,396
'465
'325
' 140
' 114
'81
'362
' 177
' 185
' 56
' 74
1,190
759
431
135
71
' 186
' 105
'23
' 19
' 17
r
(2)
'239
r
193
' 41
'63
'27
36
'84
' 53
' 16
'12
' 10
1
'108
'100
8
1
1
0
'44
'26
18
'148
'126
2
632
515
85
47
45
(2)
224
196
27
25
25
0
27
20
6
381
333
13
334
66
37
852
97
61
74
463
62
44
104
1,534
616
836
1,041
1,223
437
1,001
590
473
117
53
70
471
389
82
129
16
614
472
142
183
38
812
635
177
182
47
853
667
186
325
45
310
210
100
91
36
749
617
132
224
27
865
487
378
109
143
251
149
102
129
48
530
373
157
404
62
107
95
0
29
28
0
362
306
46
16
14
2
30
22
0
88
54
0
86
76
6
39
25
12
309
237
73
31
19
12
26
25
0
51
18
25
204
181
8
34
32
1
501
327
173
1
1
0
40
40
0
26
22
1
305
256
21
74
61
0
442
381
60
7
7
0
9
8
0
159
59
97
528
507
4
71
39
27
310
170
129
43
18
25
2
2
0
190
54
128
123
95
16
14
12
0
159
102
55
13
10
0
27
27
152
125
17
41
39
16
9
3
248
161
75
129
6
123
328
326
2
48
43
3
305
291
6
32
21
9
271
193
61
45
20
25
98
98
0
266
205
5
110
92
2
59
40
(2)
65
46
18
51
(2)
50
75
21
54
31
20
2
187
88
63
69
52
2
459
152
307
61
43
18
44
43
1
103
83
11
569, 850
266, 676
735, 074
249, 648
782, 572
244, 326
854, 718
176, 741
280, 426
339, 707
300, 344
257, 554
651, 593
351,010
615, 479
260, 413
458, 795
133, 922
906, 056
327, 572
160
369
183
413
116
344
117
369
254
496
200
363
147
311
129
236
239
237
211
312
182
257
I,7l6
787
1,054
1,786
1,841
1,857
1,926
1,998
2,081
2,131
1,169
1,194
1,291
1, 364
2,242
972
1,416
348
2,443
1,023
1,616
100. 39
100. 74
79.71
100. 13
100. 47
79.85
117.5
126.9
99.69
713
o
(2)
r 7
'5
'2
'97
'91
T
(2)
541,449 ' 327, 527 539, 767
191,319 ' 262, 627 209, 769
114,532
199, 691
161
292
213
360
161
302
2,558
1,069
1,696
2,653
1,063
1,779
2,701
1,022
1,939
100. 07
100. 43
78.92
99.05
99.39
79.06
' 98. 41
98.76
78.05
98.62
98.97
78.55
117.4
127.4
99.27
117.0
126.6
98.97
116.7
125.4
97.88
115.7
124.9
96.97
115.4
124.4
97.08
70, 651
77, 015
98, 178
99,831
150, 401
155, 797
115, 121
129 547
86, 843
90 703
93,992
100 868
68,690
74, 512
96, 042
96, 368
147, 784
152. 634
111 885
126, 209
84 516
88. 119
92 031
97. 287
COMMODITY MARKETS
Volume of trading in grain futures:
Corn
Wheat .
mil. of bu_.
do
SECURITY MARKETS
Brokers* Balances (N. Y. S. E. Members
Carrying Margin Accounts)
Cash on hand and in banks
Customers' debit balances (net)
Customers' free credit balances
Money borrowed
mil of dol
do
do
do
819
1,094
836
1,186
309
838
1,173
877
910
924
Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.),
100. 53
100. 64
100. 62
101.00
100. 00
100. 71
100. 91
total§
...
dollars
100. 90
100, 40
101.12
101. 00
101. 04
101.41
101. 31
Domestic
do
78.34
77.64
78.96
78.17
78.74
77.90
78.67
Foreign
do
Standard and Poor's Corporation:
Industrial, utility, and railroad (Al-f issues):
117.9
117.5
118.1
117. 6
117.0
117.8
117.5
Composite (17 bonds) ._. _.dol. per $100 bond
127.2
125.6
123.9
123.6
123.9
128.4
126.9
Domestic municipal (15 bonds)__
do ..
99.92
99.87
100. 36
99.68
99.49
100. 28
100. 36
U. S. Treasury bonds, taxable
do
Sales:
Total, excluding U. S. Government bonds:
All registered exchanges:
83,039
74, 769
73, 721
64, 498
73, 701
85, 991
92, 201
Market value
thous. of dol
92, 499
83, 764
84, 141
82, 290 102, 829
90, 886
68, 903
Face value
do
New York Stock Exchange:
81, 229
72, 601
72, 116
72, 013
62, 600
84, 448
90, 201
Market value
do
81, 102
89, 996
82, 136
66, 632
80, 225 100, 365
88, 658
Face value
_
_
_
_do
r
1
2
Revised.
Includes International Bank securities not shown separately.
Less than $500,000.
I Re visions for 1952-February 1953 will be shown later.
§Data for bonds of the International Bank for Reconstruction and Development, not shown separately, are also included
924
in computing average price of all listed bonds.
124.9
96. 31
SURVEY OF CUREENT BUSINESS
S-20
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
May 1955
1954
April
June
May
July
Septem- October Novem- December
ber
ber
August
January
February
March
FINANCE—Continued
SECURITY MARKETS— Continued
Bonds— Continued
Sales— Continued
New York Stock Exchange, exclusive of stopped
sales face value total §
thous. of dol
TJ S Government
do
Other than U S Government total§
do
Domestic
do
Foreign
do
Value, issues listed on N. Y. S. E.:
Market value total, all issues§
mil. of dol
Domestic
-- do
Foreign
do
j
Face value total all issues§
do
Domestic
do
Foreign
- do_ _
Yields:
Domestic corporate (Moody's)
_ percent, _
Bv ratings:
Aaa__
do
Aa,
do
A
do
Baa
do
Bv groups:
Industrial
do _
Public utility
do
Railroad
do
Domestic municipal:
Bond Buyer (20 bonds)
do
Standard and Poor's Corp. (15 bonds)
do
U S Treasury bonds taxable
do
Stocks
Cash dividend payments publicly reported:
Total dividend payments
mil of dol
Finance
do
Manufacturing
do _ _
M! in ing
do
Public utilities:
Communications
do
Electric and gas
.
-do
Railroad
do
Trade
-- - - -do _
Miscellaneous
__
- do
Dividend rates, prices, yields, and earnings, 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. --
79, 181
0
79, 181
65, 421
13, 691
79, 992
75, 166
73, 779
77, 847
83, 871
76, 251
59, 575
67, 945
97, 202
126.487
101, 100
0
0
0
10
5
1
5
0
0
4
4
0
75, 166
64, 443
10, 629
73, 779
64. 860
8,822
77, 847
68. 552
9, 238
83, 861
74, 966
8,781
76, 246
68, 307
7,878
59, 574
50, 574
8,965
67, 940
57, 516
10, 362
97, 202
88, 096
9,009
126, 487
118, 359
8,051
101,096
93, 654
7,356
79, 988
73, 110
6,819
81, 373
73, 806
7,547
107, 976
105, 867
1,441
107, 286
104, 782
1,839
108, 356
106, 255
1,440
107, 288
104, 781
1,843
105, 094
102, 990
1, 436
105, 091
102, 577
1,849
105, 582
103, 474
1,437
104, 835
102, 325
1,844
105, 727
103, 608
1, 445
104, 770
102, 268
1,837
109, 495
107, 382
1,440
108,816
106, 322
1,829
109, 350
107, 232
1,448
108, 778
106, 280
1,833
109,395
107, 269
1, 453
108, 965
106, 477
1,823
109, 139
107,012
1, 454
109, 003
106, 516
1,822
106,517
104. 442
1,403
106,438
103, 995
1,778
105, 476:
103, 351
1, 456
106, 491
103, 985
1,841
104, 518
102, 427
1,433
106, 204
103. 71?,
1, 836
104, 349
102, 266
1,428
105, 806
103, 334
1,818
3.14
3.12
3.13
3.16
3.15
3.14
3.13
3.13
3.13
3.13
3.15
3.18
3.20
3.21
2.86
3.03
3.16
3.51
2.85
3.00
3.15
3.47
2.88
3.03
3.15
3.47
2.90
3.06
3.18
3.49
2.89
3.04
3.17
3.50
2.87
3.03
3.15
3.49
2.89
3.04
3.13
3.47
2.87
3.04
3.14
3.46
2.89
3.04
3.13
3.45
2.90
3.04
3.14
3.45
2.93
3.06
3.15
3.45
2.99
3.10
3.17
3.47
3.02
3.13
3.18
3.48
3.01
3. 13
3.19
3.49
3.05
3.14
3.24
3.04
3.13
3.19
3.06
3.13
3.21
3.10
3.15
3.23
3.10
3.13
3.23
3.07
3.12
3.21
3.07
3.13
3.22
3.06
3.11
3.23
3.06
3.10
3.22
3.07
3. 10
3.23
3.08
3.12
3.25
3.12
3.15
3.28
3.14
3.17
3.31
3.14
3.17
3.30
2.44
2.38
2.51
2.49
2.47
2.47
2.51
2.49
2.52
2.40
2.48
2.54
2.26
2.31
2.47
2 26
2.23
2.48
2. 35
2 29
2.51
2.33
2.32
2.52
2.33
2.29
2.55
2.36
2.33
2.57
2.43
2.39
2.65
2.45
2.42
2.72
2.42
2.45
2 71
2.40
2.43
2.77
1, 274. 5
78.7
833.1
93.9
588.3
108.0
212.5
227.6
55.8
96.7
525. 8
130.6
149.9
339. 6
68.0
170.7
261.0
76.5
89.8
4.6
6.5
1.7
1,941.0
233. 5
1, 237. 8
140.1
721.3
148.2
236.8
2.3
594.2
114.3
211.6
2.1
1, 264. 5
93.9
822.0
93.8
256. 6
75.2
104.4
6.8
1,252.5
86.4
816. 5
94.5
6.1
2.2
1, 353. 2
93.8
881.7
101.4
39.4
102.3
60.0
43.8
23.2
107. 6
70.2
24.7
51.3
7. 2
1.1
107. 2
66.8
13.7
48.2
1.6
64.8
107.8
74.4
20.3
52.4
59.6
10.1
16.8
7.2
6.9
4.4
8.2
5.6
42.1
113.9
87.0
47. <
39.2
120.8
73.9
32.4
94.0
7.1
39.0
102.6
51.2
38.3
23.7
1.2
2.9
7.6
4.1
38.4
100.7
55.2
37.4
23.4
9.1
4.7
39.0
106. 6
64.6
41.0
25.1
4.14
4.34
2.13
3.11
3.01
3.37
4.18
4.41
2.13
3.11
3.0:
3.37
4.22
4.47
2.13
3.11
3.0:
3.37
4.22
4.47
2.13
3.14
3.01
3.37
4.24
4.47
2.13
3.15
3.01
3.37
4.22
4.43
2.13
3. If
3.05
3.37
4.22
4.43
2.13
3.15
3.07
3.37
4.23
4.46
2.13
3.15
3.08
3.37
4.42
4.72
2. 13
3.17
3.09
3.37
4.43
4.73
2.14
3.14
3.15
3.37
4.48
4.79
2.14
3.19
3.15
3.39
4.56
4.90
2.14
3.23
3.15
3.39
'4.59
4.92
2.18
3.23
3.14
3.49
4.60
4.93
2. 18
3.36
3. 15
3.49
57.3
9.5
13.2
55.9
1.3
81, 373
Price per share, end of month (200 stocks)
Industrial (125 stocks)
_
Public utility (24 stocks)
Railroad (25 stocks)
-
do
..do ..
do
- do _
80. 56
85. 53
42. 56
46.40
84. 67
90.76
42.9:
47.16
86. 51
92.86
43.79
49.63
87. 60
94.34 ;
43.91
50.01 \
91.97
98. 49
46. 67
52. 98
88.91
95. 06
45. 4'
50.01
94. 65
102. 88
45. 90
51.47
92.64
100. 66
44. 18
52.29
100. 60
110. 13
46. 33
58. 38
105. 40
115. 64
47. 56
64.2"
106. 21
116. 83
46. 94
64.35
108. 30
118. 49
48. 59
67.42
108. 90
117.61
47.97
67.42
111. 68
122.40
49. 12
72.21
Yield (200 stocks)
- - - - Industrial (125 stocks)
Public utility (24 stocks)
Railroad (25 stocks) _ _ _ _
Bank (15 stocks)
Insurance (10 stocks)
_ _ __
percent
do ..
do
do. _.
do
do
5.14
5.07
5.00
6.70
4.81
3.17
4.94
4.86
4.96
6.59
4.66
3.08
4.88
4.81
4.86
6.27
4.62
2.94
4.82 \
4.74
4.85
6.28
4.5? \
2.88
4.61
4. 54
4.56
5. 95
4.35
2.73
4.75
4.6f
4.69
6.3(
4.32
2.79
4.46
4.31
4.64
6.12
4.39
2.77
4.57
4.43
4.82
6.02
4.50
3.00
4.39
4.29
4. 60
5. 43
4. 26
2.74
4.20
4.09
4.50
4.89
4.09
2.52
4.22
4. 10
4.56
4.96
4.14
2.58
4.21
4.14
4.4C
4.79
4. 06
2. 51
4.21
4.18
4.54
4.79
3.89
2.58
4 12
4.03
4 44
4.65
3 94
2 50
Earnings per share (at annual rate), quarterly:
Industrial (125 stocks)
dollars
Public utility (24 stocks^
do
Railroad (25 stocks)
do
Dividend yields, preferred stocks, 14 high-grade
(Standard and Poor's Corp.)
percent
Prices:
Dow-Tones & Co., Inc. (65 stocks)
dol. per share. .
Industrial (30 stocks) _ do
Public utility (15 stocks)
do
Railroad (20 stocks)
_ _ _
do
Standard and Poor's Corporation:
Industrial, public utility, and railroad -.d"
1
Combined index (480 stocks)
1 935-39 = 100. .
\
Industrial, total (420 stocks)
- _ do
Capital goods ( 1 28 stocks)
•_ _ _ do
Consumers' goods (195 stocks)
do
Public utility (40 stocks)
do
Railroad (20 stocks)
do
Banks. N. Y. C. (12 stocks). ._
. do
Fire insurance (16 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
thousands ,
Exclusive of odd lot and stopped sales (N. Y.
Times)
thousands. .
Shares listed, New York Stock Exchange:
Market value, all listed shares
mil. of doLNumber of shareslisted
_ millions. .
r
7.97
2.81
3.14
8.49
2.85
4.58
9.43
2.94
9.97
7.63
2 88
6.42
P 9 70
^ 3 00
P 7. 19
4.04
4.02
4.03
4.05
4.04
4.01
3.98
3.93
3.92
3.93
3.98
4.00
4.01
3.98
113.11
299.15
55. 64
101.38
115.94
310.92 1
56. 39 1
102.01
120.74
322. 86
57. 37
108. 62 .
122.69
327. 91
57. 92
110.89 i
127. 66
341. 27
59. 43
116.65
129. 7f
346. Of
61.01
118. 29
130.40
352. 71
61.04
116.03
131. 54
358. 30
59.43
118.41
137. 84
375. 50
60. 12
126. 95
145.81
393. 84
61.43
139. 64
147. 98
398. 43
62.39
142. 45
151. 70
410. 25
63. 29
145. 64
152.75
408. 91
63 87
149.06
158. 35
422. 99
64 56
157. 51
219.8
241.5
235.9 :
189. 2
134.9
173.0 I
124.8 |
260.6
221.8 '
244.0 1
241. b
191.2 i
135.0
175.7
125.8i
265.1 j
231. 1
254. 5
255. 9
202. 4
139. 5
184. 1
131.3
283. 3
236. 4
260. f
257. 2
207.3
142. 3
187.2
135. "
293.3
238. 5
264.4
257.3
209. 4
140.7
182.0
135.4
284.1
243.5
271.4
262. 5
214.8
139.4
186.7
135.9
274.8
252. 2
282.0
278. 5
221.2
141.4
196. 7
138.0
278.5
264.5
296.7
296. 8
228.7
144.0
217. t
147.6
295.9
268.8 1
301.9 1
302.7
232.2 I
145.1 i
222.4
150. 5
302.3 i
278. 1
312. 4
316. 2
235. 0
149. 6
231. 9
153.9
311. 1
277.5
310.8
315. 3
233. 8
150.4
237. 9
157.3
312.4
286. 2
321.5
330.2
241.0
151.8
252. 1
164. 2
322.5
3,547
131,480
3 795
135 020 1
204. 9
222. 9
211.7
180.5
131.0
165.4
120.7
248.1
r
212. 1
233.1
225.3
184.6 I
132.5
163.7
121.8
249.1
2, 043
75, 234
2, 173
84, 949
2,122
84, 979
2,105
88, 072 1
2,453
89, 573
2, 752
97, 306
2,178
81, 922
2,371
88, 329
2,987
101, 956
3,714
135, 76
3. 996
142, 277
1, 751
52, 932
1,879
62, 793
1,846
61, 746
1,823
61, 602
2, 144
67, 359
2,410
70, 904
1,852
53, 201
2, 031
61, 72f
2,577
71, 843
3, 196
93, 70,
3, 438
96, 769 ;
3, 067 i
90, 745 !
3 277
91, 252
44,132
43, 867
41, 913
42, 225 !
51, 854
56, 928
41, 232
44, 169
63, 930
76, 456
74, 646
60, 815
66, 865
129,122
2,943
134, 586
2,967
137, 928
2,979
139,188
3, 047
145,843
3,063
142, 284
3,071
150, 659
3,093
148, 163
3, 094
160, 986
3,107
169, 149
3,174
171,155 1
3,208 '
175, 588
3, 236
175 806
3,262
53, 788
p
Revised.
Preliminary.
§ 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 priceof
all listed bonds shown on p. S-19.
d*Number of stocks represents number currently used; the change in the number does not affect the continuity of series.
SURVEY OF CURRENT BUSINESS
May 195!
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
S-21
1954
April
May
June
1955
DecemAugust SeptemOctober November
ber
ber
July
January
February
March
April
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES
BALANCE OF PAYMENTS (QUARTERLY)*
Exports of goods and services, total
mil. of dol
Military transfers under grants, net
do
Merchandise, adjusted, excluding military transactions
_
mil. of dol
Income on investments abroad
do
Other services and military transactions
do
4 767
826
5 691
996
4 873
708
5 420
607
2,813
464
664
3,478
479
738
2,895
503
767
3,485
621
707
Imports of goods and services
total
Merchandise adjusted cf1
Income on foreign investment*3 in TJ S
Militarv expenditures
Other services a*
do
do
do
do
do
3,717
2,514
106
592
505
4,198
2,752
108
662
676
4 000
2 455
97
626
822
3 898
2 574
112
653
559
Balance on goods and services
do
+1, 050
+1, 493
+873
+1, 522
Unilateral transfers (net), total
Private
Government
do
do
do
-1,356
-106
-1,250
-1,479
— 111
-1,368
-1,227
107
—1.120
-1,212
—115
—1,097
U S long- and short-term capital (net) total
Private
Government
do
do
do
+122
-206
-328
—408
-390
-18
—315
—319
+4
—508
508
0
+319
._-_
Foreign long- and ^hort-term capital (net)
do
+443
+239
+437
Gold sales [purchases (— )]
do
+56
+8
+164
+70
Errors and omissions
do
+13
+147
+68
-191
FOREIGN TRADE
Indexes
Exports of U. S. merchandise: t
Quantity
Value
Unit value
__
Imports for consumption: $
Quantity
_
Value
Unit value
Agricultural products, quantity:
Exports, U. S. merchandise, 'total:
Unadjusted
Adjusted
Total, excluding cotton:
Unadjusted
Adjusted
__ Imports for consumption:
Unadjusted
Adjusted
225
458
203
285
580
203
281
571
203
296
600
203
261
526
201
236
470
199
227
452
199
258
514
199
252
506
201
263
534
202
153
428
279
161
460
285
141
405
286
164
474
289
139
400
288
140
403
287
133
379
284
131
371
283
143
405
283
89
97
90
114
92
119
92
132
75
110
64
80
70
60
102
74
do
_ _ do
114
123
119
141
133
156
120
150
115
145
97
101
109
94
do
do
101
90
115
108
96
98
106
114
81
89
78
85
3,965
8,799
5,616
8,232
6,552
8, 892
6,570
9,845
6,386
9,154
1, 125. 2
1, 425. 6 1, 400. 2
1, 473. 4
28, 799
175, 134
222, 702
244, 014
116, 308
96, 948
61, 813
234, 814
306, 296
256, 824
166, 136
179, 020
49, 427
203, 673
277, 816
267, 972
132, 863
146, 857
59, 854
182, 021
292, 509
243, 068
123, 846
151, 344
4,064
12, 147
4,019
28, 524
3,452
21, 528
11, 685
1,926
0
13, 289
73, 709
5,925
25, 857
14, 986
2,262
4
24, 728
79, 304
7,126
35, 086
20, 338
45, 149
15, 627
2
39, 838
1936-38—100
do
do
do
do
do
1924-29-100
do
234
474
202
249
500
201
158
454
286
149
420
282
145
411
283
103
81
110
91
92
89
96
112
150
116
147
127
146
132
133
133
143
171
80
85
78
77
81
84
91
88
99
97
91
90
6,339
9,133
5,986
8,971
7,464
9,000
6,655
9, 273
6, 147
9,544
1, 291. 0
1, 155. 1
1,111.4
1, 263. 5 1, 245. 3
1,311.8
1, 167. 9
1, 230. 5
46, 763
176, 915
250, 208
220, 000
119, 583
162, 506
49, 525
141, 806
228, 086
215, 427
118, 891
155, 118
49, 685
147, 141
229, 769
213, 671
122, Oil
146, 348
49, 246
158, 908
351, 243
233, 026
139, 932
161, 733
45, 632
173, 164
352, 816
242, 034
139, 929
155, 606
51, 066
196, 976
378, 465
222, 382
145, 685
162, 397
47, 990
185, 281
335, 742
205, 970
132, 823
127, 460
45, 231
196,728
372, 554
221, 896
125,337
123 886
3,429
21, 335
2,753
17, 093
2,976
17, 201
2,837
18, 878
3,073
18, 808
3, 967
18, 943
4, 101
16, 564
3,618
25,200
4,471
22, 172
18, 323
2,857
0
21, 360
62, 357
8,740
26, 473
14, 383
2,275
0
13, 478
56, 556
8,317
23, 878
17, 574
3,292
0
17, 132
43, 982
5,189
22, 876
17, 886
2,447
0
12, 950
32, 024
3,032
23, 425
14, 734
2,412
0
12, 782
32, 147
4 396
29, 897
18, 838
3,579
2
12, 547
40, 987
4,657
31, 348
21, 599
2,276
0
16, 945
44, 043
4 067
26, 559
18, 260
3,154
0
21, 800
53 882
5 342
32, 531
15, 450
2,755
16, 742
58 034
4 619
27, 427
26, 589
3,190
0
19, 798
51, 531
5,621
29, 493
31,715
44, 650
27, 906
2
44, 649
25, 373
39, 657
26, 955
1
46, 351
34, 065
34, 837
32, 186
23
46, 462
22, 586
33, 220
21, 581
86
50, 501
21, 456
32, 069
16, 324
78
54, 610
32, 471
22 830
31 171
48 902
28, 179
17, 459
1
4
61, 871 101, 657
35, 321
59 258
33 316
0
70, 210
34 708
51 236
37 513
18
77 661
28 109
42 671
25 985
112
74 170
27, 339
50, 206
32, 517
1
79, 411
244, Oil
256, 818
267, 969
242, 972
219, 981
215, 407
213 657
233, 012
242, 029
222 370
205 968
221, 882
203, 768
4,594
23, 334
5,083
326, 580
8,183
46, 771
7,911
264, 629
6 058
40, 834
5,494
263, 640
11 396
43, 020
6,074
268, 018
10 291
48, 601
4,602
264, 445
14 256
48, 896
4,364
256, 221
9 342
42 062
5,947
287, 158
12 348
36 552
6,801
281, 118
15 802
34 956
7,905
292,
12
31
9
246, 802
12 968
21 343
5 388
235,
12
18
8
r
Shipping Weight
Water-borne trade:
Exports, incl. reexports!
General imports
-
thous. of long tons
__ .
do
r
Valuet
Exports, including reexports, totall
mil. of doL
By geographic regions:A
Africa
thous of dol
Asia and Oceania
do
Europe _
_
_
do
Northern North America _._
__ _ d o
Southern North America
_
do
South America
do
Total exports by leading countries: A
Africa:
Egypt _ _ _
.__
_ _
do
Union of South Africa
do
Asia and Oceania:
Australia, including New Guinea
do
British Malaya
__
do
China, including Manchuria
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
Argentina __
__
Brazil
Chile..
do
do
do
do
543
815
535
909
o
1, 341. 1
748
526
584
212
17, 312
Colombia
do
33, 661
29, 510
31, 359
30, 732
26, 138
32 598
35 270
28 039
32 386
26 256
27 049
28, 386
34 208
Cuba _
do
40, 216
36 684
32 798
35 779
35 353
39 958
38 377
38 982
36 102
35? 469
49 457
Mexico.
do
58, 923
62, 255
54, 029
48, 197
43 751
48 276
48 548
47 315
54 092
52 256
50 411
Venezuela
do
34, 652
56, 934
47, 433
41, 618
43, 004
46, 966
37 237
47 131
46 331
48 694
40 723
41 882
r
• -Lvcviscu..
y,
Revised. *• *>j_ iciJ.JiiiiJ.aj
Preliminary.
{Revisions for 1946-53 for balance of payments appear on pp. 16 and 17 of the July 1954 SURVEY; those prior to February 1954 for foreign trade will be shown later.
cfExcludes military expenditures.
§Excludes "special category" shipments and all commodities exported under foreign-aid programs as Department of Defense controlled cargo.
^Total exports and data by economic classes and commodities include shipments under the Mutual Security Program." Total MSP military shipments are as follows (mil. dol.): March
1954-March 1955 respectively—203.4; 167.2; 264.2; 359.3; 267.6; 200.4; 152.8; 103.7; 85.1; 97.6; 85.3; 94.7; 92.2.
AExcludes shipments under MSP and "special category" shipments not made under this program.
SURVEY OF CURRENT BUSINESS
S-22
May 1955
19 54
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
April
May
June
July
19 55
Novem- DecemAugust September - October
ber
ber
January
February
March
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Value t— Continued
Exports of U. S. merchandise, total!
mil. of doL By economic classes:
Crude materials
thous. of dol._
Crude foodstuffs
do
Manufactured foodstuffs and beverages
do
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
1,116.9
1, 413. 1
1, 390. 8
1, 462. 2
1,281.3
1,145.8
1, 100. 8
1,251.8
1, 233. 8
1, 300. 5
1, 154. 8
1,219.2
137, 969
55, 840
69, 620
129, 370
724, 080
158, 795
65, 793
63, 025
165, 783
959, 672
144, 390 168, 724
73, 431
64, 646
67, 773
62, 022
151,981 152, 316
953, 198 1,014,464
123, 005
65, 493
55, 430
154, 748
882, 628
122, 112
55, 637
53, 281
151, 742
762, 983
126, 763
46, 362
59, 721
141, 344
726, 646
224, 601
64, 289
68, 071
163, 646
731, 209
217,117
66, 968
74, 759
156, 999
717, 988
205, 172
83, 506
65, 893
171, 260
774, 653
154, 147
76, 151
58, 047
171, 268
695, 160
147, 396
83, 133
64, 069
182, 326
742, 247
245, 244
80, 369
22, 105
60, 110
15, 066
17, 820
259, 385
79, 777
21, 280
65, 155
22, 028
22, 355
254, 558
64, 484
27, 735
70, 137
21, 991
23, 085
266, 444
83, 706
28, 481
58, 095
19, 647
23, 215
213,215
43, 290
23, 505
62, 149
21, 245
23, 040
190, 438
35, 403
19, 756
58, 200
18, 435
22, 216
193, 805
38, 164
20, 448
49, 063
16, 781
37, 827
311,857
67, 842
25, 379
63, 309
21, 992
75, 505
332, 475
74, 457
27, 273
61, 785
24, 527
47, 073
340. 225
94, 622
20, 722
79, 725
24, 231
31, 980
274, 908
63, 545
18, 690
73, 059
22, 920
25,564
275, 815
59, 010
20, 314
81, 444
21, 895
22, 986
871.6
Nonagricultural products, total
mil. of dol_.
Automobiles, parts, and accessories . -thous. of dol. _ 102, 791
66, 630
Chemicals and related products §cf . - do_. _
Coal and related fuels. .
do
15, 521
Iron and steel -mill products
do._
35, 789
1, 153. 7
147, 918
103, 422
23, 309
49, 993
1, 136. 2
134, 644
86, 590
28, 160
38, 639
1,195.7
113,054
91,051
29, 701
39, 644
1, 068. 1
104, 694
87, 448
25. 617
41, 668
955.3
83, 181
85, 411
31, 925
43, 375
907.0
81, 366
81, 626
28, 696
41, 204
940.0
80, 934
93, 036
35, 601
45, 660
901.4
91, 071
86, 120
31, 731
41, 439
960.3
111,625
85, 995
27, 942
53, 990
879.9
108, 742
79, 781
20, 230
55, 766
943.4
117,489
84, 057
27, 087
57, 373
201, 288
13, 170
24, 242
51, 653
12,015
93, 018
298, 113
15, 210
32, 107
78, 399
22, 877
135, 101
259, 413
14, 035
30, 408
66, 486
18, 744
117, 706
243, 083
10, 722
29, 921
63, 568
19, 885
110, 631
231, 186
11,818
27, 363
61, 270
15, 235
104, 985
204, 731
10, 089
26, 706
50, 096
20, 621
89, 231
211,075
8,192
22, 577
57, 547
13, 482
98, 596
214, 854
7,236
23, 378
58, 775
14, 180
99, 743
228, 909
7,437
24, 518
61, 437
17, 044
106, 971
234, 655
7,752
25, 818
59, 353
16, 712
112, 747
225,870
8,872
26, 062
64, 074
14, 872
100, 900
240, 035
10, 362
28, 616
69, 554
15, 258
103,915
46, 356
47; 261
46, 769
49, 627
1, 328. 3
Machinery total §
Agricultural
Tractors parts and accessories
Electrical §
Metalworking§
Other industrial
do
do
do
do
do _
do
Petroleum and productso"
Textiles and manufactures
do
do
45, 483
43, 957
59, 087
65, 634
59, 756
51, 469
65, 494
49, 684
56, 575
45, 461
53, 402
48, 997
46, 892
51,017
57, 114
57, 434
55, 383
53, 627
55, 218
54, 588
__do__
861,796
957, 322
829, 059
946, 371
821, 662
824, 341
780, 641
763, 470
838, 772
941, 772
870, 118 ' 849, 673 1,018,500
50, 213
121,566
149, 116
203, 030
144, 567
193,311
70, 459
159, 955
197, 644
185, 811
133, 192
210, 262
55, 498
144, 901
159, 216
193, 273
110,430
165, 736
57, 234
155,595
178, 348
219, 569
108, 450
227, 177
42, 317
133, 020
159, 983
201, 800
91, 546
192, 996
40, 599
148, 552
162, 231
206, 364
90, 176
176, 423
31, 571
142, 988
171, 242
204, 787
68, 946
161, 109
37, 873
127, 342
182, 073
201, 670
69, 231
145, 284
44, 288
129, 904
196, 704
211, 045
72, 250
184, 580
57, 877
121,314
208, 253
215, 641
107. 012
231, 674
45, 383
151, 478
163, 328
183, 452
144, 987
181, 486
50, 760
140,966
180,016
183,830
138,177
155,926
3,037
9,107
4,083
8,253
2,244
9,790
1,658
7,779
1, 646
9,418
1,947
7,708
727
5,737
610
6,851
490
6,248
1,379
5,972
1,500
7,512
1,821
7,914
do
do
4,989
11, 529
374
21, 491
16, 178
10, 714
19, 408
15, 508
13, 137
1,958
20, 612
29, 507
13, 542
29, 362
9,046
14, 786
348
17,888
22, 824
13, 036
23, 686
9,655
18, 848
189
16,816
23, 672
17, 596
31, 781
9,611
12, 182
118
19, 305
22, 235
10, 997
27,814
10, 578
17, 496
261
17, 499
27, 434
16, 230
24, 604
13, 883
13,519
695
19, 039
27, 336
13, 537
22, 665
7,626
15, 765
269
15, 268
24, 360
18, 383
17, 435
7,768
15, 001
951
17, 250
27, 043
13, 462
15, 873
6,979
14, 552
726
17, 047
25, 038
14, 238
9,814
15, 830
11, 634
843
21, 893
34,416
15, 257
16, 728
4,158
15, 904
814
21,189
22, 526
17, 843
17, 830
do
do
do .
do
do
10, 278
18, 983
10, 551
854
37, 856
15,243
28, 590
13, 051
1,342
48, 366
12, 256
21, 864
10, 865
1, 065
40, 430
14, 683
24, 522
10, 754
1,146
45, 022
13, 065
20, 950
9,724
999
39, 562
12, 674
24, 841
11,804
1,038
38, 860
12, 126
23. 635
10, 954
1, 604
42, 386
14, 985
25, 380
14, 308
524
41, 263
15, 843
29, 920
14, 824
890
35, 455
14, 044
23, 842
14, 188
919
57, 110
12, 805
21, 926
9, .740
692
35, 510
13, 166
22,514
13, 486
1,147
48, 687
General imports, total
By geographic regions:
Africa
Asia and Oceania
Europe
Northern North America
Southern North America
South America
By leading countries:
Africa:
Egypt
TJnion of South Africa
Asia and Oceania: _
.
_
_
British Malava
China, including Manchuria
India and Pakistan
Indonesia
Republic of the Philippines
Europe:
France
Germany
Italy
Union of Soviet Socialist Republics
United Kingdom
North and South America:
Canada
_
do_. _
do
do _
do
do
do
do
do
do
__do
do
r
do
202, 998
185, 778
193, 263
219, 527
201, 558
206, 260
204, 599
201, 624
210, 750
215, 620
183, 423
183,774
do
do
324, 632
13, 539
84, 707
12, 113
38, 609
47, 996
37, 856
41, 788
261, 329
7,112
44, 991
17,811
38, 260
49, 392
23, 524
38, 634
318,072
11,526
39, 957
37, 372
38! 472
26, 742
40, 757
268, 345
11,415
38. 961
23, 680
57, 547
34, 527
19, 534
37, 938
252, 360
8,942
34, 560
14,818
51, 583
37, 667
24, 365
38, 674
216, 332
8,016
34, 181
15,285
34, 594
26, 808
19, 558
40, 138
194, 206
6,526
59, 125
6,724
15, 554
19, 791
20, 950
37, 412
237, 374
5,894
55, 643
13, 044
37, 097
14, 992
21, 042
48, 550
311,869
6,962
96, 842
15, 003
40, 430
17, 689
27, 850
51, 792
297, 404
7,585
56, 449
12, 726
38, 722
36, 412
40, 976
47, 716
265, 568
9,222
36, 045
14, 990
32,812
34, 524
41,797
46, 602
Chile
Colombia
Cuba
do
do
do
Venezuela
do
317, 762
10, 481
61, 501
14, 183
42, 253
43, 656
40, 452
47, 129
do
877, 842
943, 643
830, 100
972, 886
820, 107
826, 495
776, 900
761, 288
831, 593
930, 835
861, 971
843, 518 1, 005, 000
do
do
do
do
do
211,886
208, 927
97, 854
183, 377
175, 797
199, 092
240, 817
123, 275
182, 593
197, 866
204, Oil
168, 443
106, 091
174, 766
176, 789
227, 154
199, 964
110,828
242, 391
192, 550
186, 377
159,320
93, 660
191, 254
189, 496
207, 907
142, 498
96, 615
193, 869
185, 606
197, 687
115, 049
86, 540
194, 874
182, 751
182, 049
123, 591
76, 189
186,315
193, 145
185, 505
163, 018
82, 040
203, 156
197, 873
206, 347
242, 022
71, 546
218, 178
192, 742
201, 555
198, 253
86, 843
198, 595
176, 725
204, 433
169,294
82, 655
208, 996
178, 140
do
362, 490
11,940
158, 723
4, 215
18, 855
45, 467
18. 975
427, 568
16,317
175, 856
6,016
19, 461
52, 405
22, 689
328, 003
15, 049
106, 633
6,693
21, 401
42, 948
19, 576
372, 588
28, 824
127, 506
4,885
26, 949
47, 699
21, 963
301, 116
23, 267
101, 748
4, 696
17, 610
39, 445
19, 022
304, 751
16, 180
90, 416
4, 896
27, 214
r
41, 740
19, 047
260, 137
17, 291
64. 886
3, 686
22, 564
30,611
18,312
252, 491
12, 822
75, 993
3, 967
24, 371
16, 651
17, 689
288, 050
18, 788
106, 079
3, 752
23, 188
12, 880
15.689
360, 957
30, 821
174, 374
3,171
24, 480
10, 423
15, 444
358, 689
19, 055
140, 179
3,924
27, 719
36, 502
21, 593
318, 945
22, 471
107, 899
3, 506
30, 358
36, 335
17,518
515, 351
5,023
516. 075
6,424
502, 098
7,173
600, 298
5,375
518, 991
6,570
521, 744
4,805
516, 764
5,297
508, 797
2,838
543, 543
2,124
569, 878
11,990
503, 282
9,394
524, 574
9,975
88, 407
27, 685
12, 547
20, 532
47, 597
62, 125
98, 278
31,201
11,254
20, 112
49, 611
65, 625
153, 496
48, 889
19, 782
28, 048
52, 529
67, 816
97, 134
37, 312
8,982
23, 884
47, Oil
64, 714
96, 196
32, 542
16, 055
25, 087
52, 063
63, 109
89, 048
31, 767
13, 660
25, 560
47, 487
64. 401
73, 290
17, 797
16, 108
25, 421
49, 651
67, 032
82, 972
25, 759
17, 041
27, 068
54, 284
74, 077
97, 324
28, 382
14, 974
22, 675
52, 963
87, 896
75, 003
23, 363
11,672
22, 402
46, 732
85,202
88, 207
29, 485
15,037
22, 210
43,200
84,760
Latin American Republics total
Argentina
Imports for consumption total
By economic classes:
Crude materials
Crude foodstuffs
Manufactured foodstuffs and beverages
Semimanufactures
Finished manufactures
By principal commodities:
Agricultural products total
Coffee
Hides and skins
Rubber crude including guayule
do
do
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
T
97, 686
26, 363
13, 718
24, 920
53, 643
74, 513
r
Revised.
*> Preliminary.
{Revisions prior to February 1954 will be shown later
^See similar note on p. S-21.
9 Data for semimanufactures reported as "special category, type 1" are included with finished manufactures.
§ Excludes "special category, type 1" exports.
c? Exports of jet fuel (totaling $1,719,000 in 1953) are included with petroleum and products beginning January 1954; with chemicals prior thereto.
April
SURVEY OF CUKKENT BUSINESS
May 1955
S-23
1954
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
March
April
May
June
July
1955
August
Septem- October Novem- December
ber
ber
January
Febru-
ary
March
April
TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Airlines
Operations on scheduled airlines:
Miles flown, revenue _ _
thousands..
Express and freight ton-miles
flown
do
Mail ton-miles
flown
do
Passengers carried, revenue
_ _ _ _ _ _ _ d o ._
Passenger-miles flown, revenue
millions
41,402
41,281
14, 735
6,816
14, 964
42, 758
14, 780
1,257
1,334
2, 520
1,363
2,252
6,767
2,485
6,344
42, 344
14, 669
6,199
2,701
1,525
44, 190
13, 793
37, 859
12, 704
16,478
43, 007
18, 759
2,471
1,392
6,160
2,621
1,436
6.549
2,673
1,514
1,414
6,045
2,687
6,053
42, 095
40, 497
17, 359
6,496
2,416
1,281
1
40, 790
44, 365 ' i 45, 092
19, 697 ' i 15, 347 i 14, 753
9,833 ' ! 6, 574 1 6, 694
2,518 '12,601
i 2, 367
1 1, 320
1,426 'U,485
Express Operations
Transportation revenues
Express privilege pavments
thous. of dol__
. _ do. .
33, 063
13, 977
31, 215
12, 492
28, 003
9,903
31, 588
12, 760
27, 061
9,062
2ST 808
10, 759
30, 318
30, 784
32, 132
12, 458
39, 517
17, 161
27,258
8,965
26, 849
8,993
- cents
millions
thous. of dol_.
13.4
905
130, 300
13.5
874
130, 400
13.6
834
122, 300
119,900
13.7
806
13.7
749
117, 500
13.8
740
116,400
13.9
785
114, 500
123,400
13.9
816
14.0
820
127, 100
14.0
862
137, 100
14.1
784
119, 600
14.1
731
113, 000
14.2
837
8,696
11,982
Local Transit Lines
Fares, average cash ratef
Passengers carried revenue
Operating revenues
Class I Motor Carriers (Intercity)
Carriers of property (quarterly totals) :§
Number of reporting carriers
Operating revenues total
thous of dol
Expenses total
do
Revenue freight carried
thous. of tons
2,037
814,650
791,010
Carriers of passengers (quarterly totals):
Number of reporting carriers
Operating revenues total
thous of dol
Expenses total
do
Revenue passengers carried
thousands
2,042
2,036
63, 282
844, 448
807, 973
64, 697
856, 644
819, 933
65, 629
169
78, 935
81, 034
76, 172
169
93, 176
83, 932
81, 143
168
107, 372
88, 267
83, 553
164
89, 616
84, 667
79,068
Class I Steam Railways
Freight carloadings (A. A. R.):c?
Total cars
thousands
Coal
do
Coke
, _
_
_
do
Forest products
do___
Grain and grain products
do
Livestock
do
Ore__
__
__
_ - _ d o
Merchandise, 1. c. 1
_ ___ do___
Miscellaneous
do
Freight carloadings (Federal Reserve indexes) :
Total, unadjusted
1935-39=100.
Coal
do
Coke
do
Forest products
. .
. _ _ _ do
Grain and grain products
do
Livestock
__
... _ . _ d o .
Ore
do
Merchandise, 1. c. 1 _
do .
Miscellaneous
do___
Total, adjusted
do
Coal
_ _
do
Coke
.
_
_
do
Forest products
do. .
Grain and grain products _ _ _
_
do
Livestock
do
Ore
__
__
do
Merchandise, 1. c. 1. .
do
Miscellaneous
_ _
do
Freight-car surplus and shortage, daily average:
Car surplus, total.
. . . numberBoxcars. __
do
Gondolas a n d open hoppers. _ _ _ _ _
do
Car shortage, total
do
Box cars_
do
Gondolas and open hoppers
do
Financial operations:
Operating revenues, total
thous. of dol__
Freight
_ _ _
do
Passenger
do
Operating expenses.- _ _
. __
do
Tax accruals, joint facility and equipment rents
thous. of dol__
Net railway operating income
. . . do
Net incomef
do
Operating results:
Freight carried 1 mile
mil. of ton-miles__
Revenue per ton-mile
cents..
Passengers carried 1 mile, revenue.
..millions..
2,412
384
34
156
166
28
58
259
1,325
' 3, 093
'475
'38
' 197
'209
'39
'124
'315
' 1, 697
439
29
163
214
23
285
235
1,342
3,251
433
35
178
312
31
351
290
1,621
2,708
438
27
155
212
31
249
252
1,344
2,711
452
29
162
199
46
228
248
1,348
3,629
507
37
205
228
38
303
309
1,718
3,345
2,730
635
43
230
268
77
246
327
1,803
2,685
2,518
487
36
169
185
34
62
239
1,306
3,054
493
35
170
220
47
110
247
1,363
608
50
194
225
40
75
288
1,575
2,575
511
42
171
177
25
56
243
1,351
2,621
447
42
168
171
27
67
255
1,444
3,433
569
56
205
217
40
179
308
1,859
105
78
105
126
117
51
51
41
125
108
79
96
127
118
55
88
40
128
114
84
93
133
127
53
224
39
130
116
85
93
132
158
41
255
38
129
114
80
91
120
181
47
255
38
126
114
90
87
125
149
56
217
40
127
120
98
97
140
147
89
205
41
133
124
105
109
149
150
111
170
41
136
121
106
116
143
159
85
98
41
134
114
106
12£
137
133
60
57
40
127
110
103
127
133
132
61
53
37
123
113
105
131
138
124
45
49
39
128
115
91
134
135
120
49
59
40
137
120
95
142
133
123
58
136
39
140
112
78
104
126
127
64
177
41
132
111
79
98
127
134
62
136
39
130
112
84
94
128
144
58
136
39
128
111
85
95
127
155
54
164
38
125
109
80
94
119
151
. 54
159
38
125
111
90
90
119
138
59
145
40
126
111
98
98
129
131
67
137
39
123
115
105
111
141
150
72
109
40
125
118
106
116
146
163
68
109
40
129
123
106
119
154
142
62
184
41
135
121
103
121
148
132
64
210
39
134
122
105
124
144
127
56
198
40
136
123
91
133
135
130
62
204
40
144
124
95
144
133
140
65
209
39
142
130, 775
21, 318
98, 605
200
181
6
136, 335
22, 908
100, 848
261
245
0
126, 845
23, 609
88, 590
393
375
15
86, 150
19, 070
56, 783
699
689
0
95, 994
81, 002
10, 688
60, 603
447
442
3
72, 134
44, 922
52, 598
998
964
0
33, 041
29, 482
1,200
20, 505
2,193
40, 960
74, 775
740
716
24
71,087
9,568
21,810
2,398
11,657
2,418
1, 834
281
' 799, 306 765, 963
' 671, 264 637, 994
' 58, 462
59, 645
' 627, 578 611, 773
765, 121
638, 974
60, 395
616, 844
803, 521
666, 029
69, 271
625, 337
779, 794
642, 540
72, 464
618, 597
804, 767
664, 232
73, 422
623, 326
781, 619
652, 951
62, 312
607, 388
804, 392
678, 755
57, 327
611, 780
11,937
8,923
3,402
2,854
2,405
139
' 102, 622
' 69, 106
48, 864
94, 149
60, 041
38, 709
89, 396
58, 881
38, 659
98, 504
79, 680
58, 970
90, 094
71, 103
49, 365
97, 368
84, 073
64, 210
94, 027
80, 204
58, 329
101,737
46, 190
1.509
2,191
45, 224
1.467
2,221
49, 117
1.363
47, 637
1.443
46, 914
1.427
2, 879
48, 921
1.405
2,926
48, 175
1.402
52, 712
1.344
2,192
2,285
2,644
2,406
90, 875
75, 402
27, 410
244
237
0
49, 286
368
341
3
47, 171
6,445
30, 145
687
665
23
38, 468
3,351
28, 230
1,427
1,334
34
793,015
798, 023
652, 902
68, 954
628, 344
752, 741
625, 924
65, 301
590, 002
724, 335
611, 843
55,260
564, 101
825, 160
703, 245
56, 487
612, 029
101,884
94,118
75, 518
60, 571
109, 108
126, 624
94, 079
68, 660
51, 873
93, 630
66, 604
46, 133
115,398
97, 733
48, 521
1.415
2,159
47, 588
1.421
2, 625
48, 161
1. 357
46, 098
1.382
2,057
2,077
25
669, 535
57, 515
597, 013
2,348
2,488
Waterway Traffic
Clearances, vessels in foreign trade:
7,684
9,511
9,726
10, 171
8,830
9,886
9,660
Total U. S. ports©
thous. of net tons..
10, 277
9,505
9,249
5,268
Foreign
do
6,645
6,659
6,626
5,893
7,113
6,841
7,157
6,711
6,604
3,059
2,852
United States
do. .
2,417
2,936
3,241
3,101
2,819
2,794
3,120
2,645
Panama Canal:
3,533
2,954
3,377
3,408
3,475
3,127
Total
_
thous. of long tons
3,227
3,329
3,132
3,404
3,453
3,376
3,760
In United States vessels
do...
946
977
1,038
878
1, 031
985
932
1,002
991
1,030
1,065
987
1,123
' Revised.
*> Preliminary.
1 Beginning January 1955, data include local service operations for one carrier.
fData have been revised (beginning August 1945) to include fares charged by transit companies operating in cities having a 1950 population of 25,000 or over: revisions prior to August 1952
will be shown later.
§Data have been revised to cover intercity carriers of all types of commodities, including common carriers of general and special commodities and contract carriers. It should be noted
that the data for 1945-53 shown in BUSINESS STATISTICS (1953 edition) and in the October 1953-December 1954 issues of the SURVEY are for carriers of general commodities only Revised
data for 1945-52 will be shown later. Revisions for the first three quarters of 1953 are shown in the January 1955 SURVEY.
cf Data for April, May, July, October 1954 and January and April 1955 are for 5 weeks; other months, 4 weeks.
OData beginning January 1954 include vessels under tune and voyage charter to Military Sea Transportation Service; revised monthly data for 1953 to include these clearances will be
shown later.
{Revised data for February 1954, $22,850,000.
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
April
May
June
July
August
May 1955
December
Se
P£m' October
JanuFebruary | ary
March
April
TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION— Continued
Travel
Hotels:
Average sale per occupied room
dollars _
Rooms occupied
percent of total .
Restaurant sales index
same month 1929=100Foreign travel:
U S citizens' Arrivals
number
Departures
do
Aliens' Arrivals*
do
Departures*
do
Passports issued
do
National parks, visitors
thousands
Pullman Co.:
Revenue passenger-miles
millions
Passenger revenues
thous of dol
COMMUNICATIONS
Telephone carriers: 9
Operating revenues
-thous. of dol_
Station revenues
do
Tolls message
do
Operating expenses before taxes
do
Net operating income
do
Phones in service end of month
thousands. _
Telegraph, cable, and radiotelegraph carriers:
Wire-telegraph:
O perat in P" 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
6.75
74
232
7.43
73
251
6.71
75
277
7.25
75
267
6.91
66
237
7.66
72
248
7. 55
74
253
7.71
77
262
76,011
76. 910
44, 905
30, 565
53. 990
395
72, 722
87, 138
52,115
37, 804
58, 430
654
78, 179
91, 220
56, 280
39 479
56, 776
1,190
92, 068
130, 168
57, 066
52, 266
53, 432
2,472
113,018
127, 507
62, 056
46 236
36, 707
4,127
146, 742
94 034
64, 504
43 530
34, 263
4,213
126, 750
73, 984
70, 574
45, 403
26, 023
2,010
88, 706
60, 498
56, 752
40 100
21,659
1,104
621
8,160
576
7, 559
565
7,415
621
8, 167
577
7, 601
640
8,422
574
7, 543
410, 977
241,184
136. 479
287,136
48, 277
44. 188
408, 652
241, 991
133,437
280, 195
50, 511
44, 350
411,182
241,779
135, 373
279 732
51, 845
44, 514
415, 760
243, 104
138, 921
285, 347
49, 889
44, 621
414, 837
240. 459
139,800
287, 388
61.957
44, 766
421,562
243. 050
144,225
286, 027
55, 790
44, 920
17, 525
15,074
1,628
17, 089
14,824
1,442
16. 730
15, 004
904
17, 768
15. 445
1,499
17.111
15. 803
494
2, 860
1, 876
731
2, 635
1, 898
501
2,724
1,940
539
2,848
1, 999
579
2,647
2,211
311 1
2, 490
2, 1 53
208
2,516
2.157
222
2, 620
2,191
285
7.76
71
250
6.89
59
229
7. 17
73
252
7. 25
74
252
73, 293
56 135
50,
477
r
35 154
22 000
428
72, 730
69 840
48 675
41 77(}
25 005
277
69, 272
76 638
45 881
30 472
34 356
318
40 173
309
583
7,647
540
7,042
571
7 474
702
9 224
587
7, 710
422,311
246, 076
141,432
293, 280
52,414
45. 129
431,443
251, 172
145, 088
290, 427
59,615
45, 345
431,914
252, 812
143,034
292, 307
58, 930
45, 568
448, 387
257, 149
154,870
311,916
58, 457
45, 858
441, 354
258, 047
146, 783
289, 318
62,143
46, 093
429, 188
254, 859
137, 976
281,2-0
60, 261
46. 310
18,072
15, 555
1,741
18, 447
15, 861
1, 856
18 267
15, 552
2,023
17, 843
15,513
1, 660
19, 733
17,479
973
17, 552
15. 953
737
16,996
14 880
1, 302
2,704
1.918
525
2, 595
1, 967
377
2.743
1, 794
701
2, 733
1, 721
761
2,781
1, 853
668
3, Oil
1,862
864
2 676
2. 104
301
2 452
1,972
220
2.599
2,217
248
2, 557
2,179
255
2. 611
2,320
159
2, 652
2 112
426
2, 672
2 249
300
2,998
2 353
'540
2 754
2 01*2
' 333
2 635
2 198
351
r
7. 02
75
239
7. 65
73
259
56, 399
437 -
j
i
1
CHEMICALS AND ALLIED PRODUCTS
|
CHEMICALS
Inorganic chemicals, production: t
!
Ammonia, synthetic anhydrous (commercial)
short tons_ _ 237, 535 232, 246 249, 837 216, 786 211,310 222,430 210, 93S 230, 098 238, 463 253, 687 270, 363 249, 398 285, 239
60, 295
60, 91 5
65, 072
59, 984
56, 544
58. 435
59, 578
60,516
54, 351
58, 857
72, 522
62, 388 r 53, 804
Calcium carbide (commercial)
do
58, 934
65, 720
76, 725
77, 697
59, 186
44, 834
50, 648
69, 420
46, 477
78, 407
40, 551
42, 666
52, 124
Carbon dioxide, liquid, gas, and solid
do
234, 640 231,336 247, 890 243, 729 245, 109 243. 403 244, 252 260. 052 250, 952 259, 445 260, 357 r232, 826 269,319
Chlorine, eas
___.._ . _
do
59, 504
64, 482
61,351
60, 122
63, 270
62, 396
66, 372
58, 210
61, 871
67, 494
62, 998
62, 751
69, 610
Hydrochloric acid (100% HCI)
do
1,539
323
1,055
0
1,084
1,328
Lead arsenate (acid and basic)
do
0)
0)
0)
C1)
0)
(0
0)
155, 156 148, 261 157, 705 149, 383 162, 502 166, 192 167. 012 184,188 193, 343 199, 140 213, 732 190, 108 206, 932
Nitric acid (100% HNO3)
do
1,742
1,932
1, 768
1,823
1,723
1, 694
2,214
1, 863
1,998
2,349 r 2,132
1,611
2, 465
Oxvgen (high puritv)
_
mil. of cu. ft .
264, 625 264, 979 263, 086 240, 009 221 , 223 232, 995 21 9, 823 245, 893 257, 550 264,317 * 276, 286 289,323 308,415
Phosphoric acid (50% H-jPOi)
short tons
Sodium carbonate (soda ash), ammonia-soda process
424, 112 404, 856 413, 268 378, 233 380,061 374, 831 390, 280 408, 559 399, 961 385, 270 385, 787 359, 569 420, 085
(58% Na2O)
short tons
9,294
8, 968
8,452
9,530
8,525
7,049
7, 559
7, 263
7, 913
8,707
8,181
9, 000
9,538
Sodium bichromate and chromate .
do
278, 210 276, 481 287. 773 289, 484 291, 039 284, 240 286, 262 299, 587 292, 587 300, 604 301, 769 275, 326 317, 245
Sodium hvdroxide (100% NaOH)
do
Sodium silicate, soluble silicate glass (anhydrous)
49, 144
54, 730
50, 383
55, 728
58, 458
39, 983
39, 073
49, 760
49, 451
60, 910
53, 066
50, 490
62, 841
short tons__
Sodium sulfate, Glauber's salt and crude salt cake
64, 569
62, 785
71,948
65, 409
70, 787
62, 930
62, 457
63,000
69,511
75, 973
71,116
71, 485
73, 358
short tons_Sulfuricacid:
1,194
1,108
1,224
1,178
1,183
1, 067
1,097
1,300
1,255
1. 313
1, 266
1,121
1,388
Production (100%, H 2 SO 4 )
thous. of short tons_.
Price, wholesale, 66°, tanks, at works
22.35
22.35
22. 35
22.35
22.35
22.35
22.35
22. 35
22.35
22. 35
22.35
22.35
22.35 i>22.35
dol. per short ton.Organic chemicals:
Acetic acid (synthetic and natural), production
37, 113
30, 537
39, 012
31, 754
44, 691
42, 002
38, 754
36, 111
36,944
41,502 41,069
43, 071
thous. of lb-_
52, 836
50, 342
48, 469
53, 336
57, 415
61,777 69, 282 69, 104
66. 302
63, 578
60, 353
67, 886
Acetic anhydride, production, _ _ _ _ _ _
_ do
1,337
1,227
1,192
1,072
922
1,151
1,136
932
1,142
1,202
1,250
1,194
Acetylsalicylic acid (aspirin), production
do
Alcohol, ethyl:
r 32, 609
35, 465
36, 521 ' 37, 304 34, 608
32, 850
28, 793 33, 552
30, 650
33, 651
35, 304
33,015
35,615
Production _
thous of proof gal
r 46, 992 ' 44, 330 r 46, 549 r 51, 133
53, 587
55, 777
57, 509
56, 552
54, 089
53,911
52,111 53, 057
Stocks, totaL
_
do
48, 093
32, 887
36, 443 35, 996
35, 690
33,881 33, 636
31, 705
In industrial alcohol bonded warehouses
do _. r 26, 198 ' 24, 991 >• 25, 868 >• 30, 780
31. 780
27, 300
20. 794 ' 19, 339 20, 681
20, 353
20, 087
21, 066
20, 700
20, 556
20, 275
20, 208
In denaturing plants
do
20, 406
21,277
20, 793
33, 676
32, 357
33, 664
32, 636
29, 733
27, 603
29, 956
29, 825
32, 386
31,839
35,045 32, 792
Used for denaturation. _ _ _
_
do
37,855
'967
644
835
697
923
941
725
854
984
Withdrawn tax-paid
do
755
672
' 703
927
Alcohol, denatured:
18, 172
17, 574 ••17,559
18, 176
14, 906
16, 060
16, 181
16, 106
17, 471
17,173
Production _ . _ _ -_ thous. of wine gal
20,404
18, 862
17, 677
17, 206
18, 430 ' 17, 590 '17,440
16, 805
15, 878
15, 678
16,817
17, 368
17,340
17,174
Consumption (withdrawals). ___
_ do__
19, 346
20, 644
r
7,377 ' 7, 370 7,483
7, 636
6, 704
5,512
7,002
6,276
5,434
5, 500
4,934
Stocks
_ _ _ _ _
do
5,455
5,238
15, 750
15,417
15, 057
14, 792
9,188
9,752
13, 151
9,240
8, 992
10, 682
8,934
Creosote oil, production. _
_ _ _ _ _ thous. of gal
9,565
7,849
6,039
5, 376
6,436
5,952
6,000
6,212
6,960
5,105
7,125
7,336
8,395
Ethyl acetate (85%), production
thous. of lb_Glycerin, refined (100% basis):
High gravity and yellow distilled:
5,013
5,985
4, 663
6, 804
5,475
3,740
4,086
4,804
5,067
4, 981
Production
do
(22)
( 22 )
6,461
6,169
5,922
5, 576
6, 685
5,753
5,460
5,909
5, 776
5, 873
Consumption
_ _ _
do
(2)
(2)
19, 084
18, 422
16, 791
19, 201
13, 435
15,939
18, 775
12, 782
Stocks
___
.do
15,005
11,856
()
()
Chemically pure:
2
13, 113
12,391
14, 099
11,654
14, 023
11,631
10, 196
12,917
15, 679 2 18, 566 2 17, 275 22 20, 032
Production
do
11, 964
9,647
9, 229
8, 662
9,193
9,531
9,279
9,499
8,418
8,966
9, 271
Consumption
_
do
14, 836 2 14, 642
16, 306
23, 520
17, 889
28, 941 29, 259
23,011 20, 546
27, 120
27, 161
17, 445
18, 523 2 30, 073 2 28, 391 2 28, 699
Stocks
_
_
- -do
Methanol, production:
170
152
184
172
177
162
151
160
176
Natural (100%) t
thous. of gaL_
163
157
170
14 580
14, 079
15,319
12, 896
12, 905
13, 735
13, 147
12, 979
16, 974 ' 15, 393 13,825
16, 464
Synthetic (100%)
do
18, 532
19, 652
19, 129
22, 136
24, 647
24, 072
20, 233
28, 376
Phthalic anhydride, production.
thous. of lb._
20, 277 23, 258
24, 976
25, 798
T
2 B eginning , anuary 1355, data f or high-gr avity and yellow-di stilled gly cerin are combined vnth chem ically pure glycerin,
Revised.
t> Preliminary.
1 Not available for publication .
*New series. Compiled by the U. S. Department of Justice, Itnmigrat on arid N aturalizatt on Service . Data n'late to th e arrivals and depar tures of al iens, by s 3a and by air, between ports
of the United States and noncontiguous foreign territory. Thes e statistic s do not i ticlude border cross >rs, searm n, militar y personn el, traffic between (;ontinenta 1 United States and insular
possessions, and cruise travelers. Data prior to 1953 will be sho^svn later. (Old seri es coverec emigran t and imnligrant ali ens only.)
nnn
9 Data beginning January 1954 cover 38 companies (those having an annual gross operating re venue ^,f
of $1
$1,000,000
or more). However, the smaller number of companies continues to account
tor over 90 percent of the annual gross operating revenues of the industry.
^Revisions for 1952 (also 1951 for ammonia and hydrochloric acid) will be shown later.
!
SURVEY OF CURRENT BUSINESS
May 1955
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
S-25
1954
April
June
May
July
1955
DecemOctober NovemAugust September
ber
ber
January
February
March
April
CHEMICALS AND ALLIED PRODUCTS—Continued
FERTILIZERS
Consumption (10 States) 9
Exports, total?..
Nitrogenous materials
Phosphate materials J
Potash materials
thous. of short tons
short tons.
do
do
do
1,772
273, 388
16, 766
242, 731
10, 444
1,717
251, 877
13, 292
222 210
10, 057
Imports, total?
do
Nitrogenous materials, total
do
Nitrate of soda
do
Phosphate materials? do._
Potash materials
__ . _ _ _ ... _
do__.
Price, wholesale, nitrate of soda, crude, f. o. b. cars,
port warehouses
dol. per short ton
Potash deliveries
short tons
Superphosphate (100% A.P.A.)c?
Production
short tons
Stocks, end of month
do
338, 283
259, 781
89, 083
786
292 538
8 526
434
264, 686
23, 762
227 693
10, 716
171
306, 751
24, 293
268, 815
10, 112
152
400, 105
39, 477
346 419
11 358
282
364, 339
29, 881
323 734
6 858
508
453, 853
20, 585
420 435
9 030
225.
32
177
12
488
276
820
964
214
22 733
251 996
10 759
511
283, 845
49 490
216 270
lo' 529
313, 456
97, 057
172 074
21 039
249, 842
179 333
67, 517
20, 591
231, 784
184 599
104, 419
14, 157
111,839
33, 633
338, 215
243. 103
85 533
14, 898
38, 073
141 624
94 905
31 550
11 610
18, 705
202, 152
139 914
37 439
9 175
31, 925
155, 497
100 361
33 725
8 690
24, 381
196
152
52
13
19
532
750
302
502
340
214 033
189 058
84 555
8 986
5 498
227 564
189' 995
59 359
9 294
12 868
236 247
165 449
49 463
11, 194
41, 339
53. 00
261, 238
53. 00
221, 249
53.00
53.00
53.00
148, 040
80, 404
100, 715
53 00
124, 035
53 00
137 309
51 25
167, 285
51 25
150 221
51 25
154 317
51 25
187 873
51 25
200 115
51 25
266 832
227, 696
234, 936
216. 618
185, 090
182, 637
198, 809
165, 683
248, 229
128, 618
273, 746
144, 345
287, 371
274,194
153, 368
184, 713
278, 135
192 554
296 259
206 309
326 579
r
9Q9 017 T 210 165
347 161 347, 728
228 764
274 447
3,725
974
310, 071
6,966
8,079
3,049
76, 583
35, 666
12, 532
7,595
369
291,794
1 839
P 51 25
NAVAL STORES
Rosin (gum and wood) :
Production, semiannual total
drums (520 lb.)
Stocks, end of period
do
Price, gum, wholesale, "WG" grade (N. Y.), bulk
dol. per 100 lb__
Turpentine (gum and wood) :
Production, semiannual total
bbl. (50 gal.)
Stocks, end of period
do
Price, gum, wholesale (N. Y.)
dol. per gal__
817, 950
828, 080
9.00
1, 005, 880
891 850
8.75
8.75
8.65
8.55
8.65
8.75
8.80
9.25
9.25
9.20
9.20
9.20
*9.20
.60
.72
327 910
181, 710
.72
.72
.72
.74
.64
.64
.64
*.64
527
55, 395
722
60, 424
754
59, 571
937
58, 619
1 083
57 824
980
53 594
1 017
59 571
810
53 167
876
58 535
454
467
3 210
478
3 228
447
3 214
400
3 201
435
3 091
240, 580
196, 910
.60
.60
.60
.60
941
54, 756
931
55, 918
786
55, 330
541
58, 489
3,239
472
445
3,190
465
3,193
3,203
3,259
3,289
3,229
3,240
325, 234
133, 470
268, 342
310, 169
118, 886
262, 682
304, 763
309, 102
245, 855
307, 271
89, 573
251, 266
310, 353
127, 022
233, 363
325 073
131, 975
224, 215
355,012
262, 393
213,063
127, 040
388 542
129 907
223 411
46, 502
31, 977
72, 430
47, 681
28, 431
64, 371
49, 641
22, 606
69, 182
46, 879
24, 157
68, 982
46, 072
19, 147
72, 512
47, 026
23, 987
72, 888
46, 746
24, 267
71, 630
49, 362
28, 429
66, 338
53 958
27 464
73' 142
55 769
27 098
75 025
358
10, 697
41, 170
2,066
8,317
11, 047
34, 753
19, 164
13, 768
37, 253
44, 101
25, 903
11, 038
56, 026
13, 410
10, 269
51, 260
26, 732
13, 149
65, 710
12, 514
11, 340
56, 222
6 179
13 625
66' 107
6 471
11 074
63* 560
542
556
475
521
429
495
382
445
366
346
380
416
440
435
599
532
579
536
551
521
547
524
985
1,323
915
1,307
793
1,223
709
1,150
629
1,086
593
1,018
575
933
599
924
677
834
669
799
674
806
124, 953
24, 502
1,368
23, 134
78, 866
43, 053
9,017
34, 036
110,593
155,012
28, 839
1,410
27, 429
39, 926
4,402
150, 178
33, 892
5,731
72, 232
43, 901
2, 078
41,823
34, 413
29, 646
12, 569
26, 231
27, 480
8,181
19, 201
27, 599
27, 726
29, 949
14, 877
34, 208
26, 871
16, 446
31, 106
24, 327
20, 446
24, 558
38,415
37, 407
35, 863
32, 939
35, 481
30, 122
38, 165
32, 263
34, 925
23, 211
57, 539
33, 455
50, 243
30, 309
46, 730
27, 072
48, 879
28, 659
49, 372
10. 625
7,051
45, 345
43, 216
10, 437
9,741
44, 313
10, 950
50
598
1,332
28
470
891
35fr
22
278, 124
167, 313
219, 851
177, 739
200, 632
MISCELLANEOUS
Explosives (industrial), shipments:
Black blasting powder
thous. of lb
High explosives
do
Sulfur (native) :
Production
thous. of long tons
Stocks (producers')—
do
455
472
462
439
FATS, OILS, OILSEEDS, AND BYPRODUCTS
Animal fats, greases, and oils:
Animal fats:
Production?
thous. of lb
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
do
Vegetable oils, oilseeds, and byproducts:
Vegetable oils, total:
Production, crude ?
mil. of lb_ Consumption, crude, factory?
do
Stocks, end of month:?
Crude __
__
do
Refined §
do
Exports
thous. of lb..
Imports, total?
. do ..
Paint oils
do _.
All other vegetable oils?..- _ . _ .
do
Copra:
Consumption, factorv
.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:
Crude
__
_
do
Refined
do
Imports
do
Cottonseed:?
Receipts at mills
thous. of short tons..
Consumption (crush) „__ _ .
do
Stocks at mills, end of month
. d o ...
Cottonseed cake and meal:?
Production
... . short tons. _
Stocks at mills, end of month §
do
Cottonseed oil, crude:?
Production
thous. of lb_Stocks, end of month
do
Cottonseed oil, refined:
Production?
_.do ..
Consumption, factory?
do
In margarine?
do
Stocks, end of month §?
__mil. of lb__
Price, wholesale, drums (N. Y.)
dol. per lb_.
r
184, 79fi
197, 063
167, 032
38, 165
1,175
.203
119,467
113,337
11,407
rl
426 037 i 4g5 537 417 837 i 454 822
710 i 203 837
129 738 i ^93 206 rii97
254 218 i 412 194 1 415 127 i 415' 106
120, 900
54, 026
1,058
52, 968
126, 097
47 032
e'eo7
40 425
1 24, 960
34 006
3' 058
30' 948
30, 072
27 508
34, 016
33,811
21 808
29, 533
25 257
IQ 133
24 148
31,097
30 092
38 365
32 933
43 159
30 698
35, 503
20, (308
45, 419
28 561
49 276
28 770
52, 308
10, 121
9,448
52, 334
9 314
13, 524
21
270
307
128
207
229
193, 472
126, 729
198, 062
161, 955
129, 705
124, 212
84, 728
178, 107
176, 259
151, 578
1,155
.213
8,884
14, 648
38,113
40, 636
38, 281
(2)
r
(2)
(2)
(2)
(2)
(2)
(2)
(2)
(2\
T 3
3 532
312
3
8 275 r 3 8 391
3 4Q 872 r 3 47 554
3 285
3 10 564
3 4g' 141
487
489
493
564
671
689
645
714
r
563
051
04^
002
168, 758
45 306
6 858
38 448
27 678
16 053
24' qt)g
29 211
16 579
25' 448
22 415
15 736
19 810
28 344
15 313
33 216
25 685
35 537
27 441
36 747
90 ggq
28 737
27 596
36 068
32 005
47 974
27 433
40 851
22 382
41 950
25 021
43 61 3
24 231
43 043
24 327
49 SOI _
28 476
48, 770
9 982
14, 665
52 348
10 318
16 277
63 336
11 129
18* 019
68 733
10 344
G' 402
68 715
11 98?
10 459
61 012
11 772
14 617
68 573
11 844
449
250
428
1, 243
532
1, 140
1, 503
684
1, 959
1 142
'659
2 442
488
609
2 321
119
598
1 842
84
514
1 412
36
438
1 010
103, 175
203, 321
121, 257
188, 910
260, 531
204, 976
330,412
243, 422
320 340
251, 547
294 034
245, 510
293 109
242,133
254 430
257, 064
218 928
278, 909
94, 884
54, 013
77, 097
42, 249
82, 890
35 881
165,418
70 954
219, 744
105 742
215,781
144 267
196, 923
146 394
196, 278
141 494
169, 946
145 221
150, 978
125 738
174,462
106, 431
139, 760
33, 425
1, 069
.213
996
.224
78, 738
108, 802
24, 141
954
.224
82, 186
147, 206
29 253
888
.219
108 518
154, 430
38 980
825
.215
161 362
148, 136
33 553
817
.210
161 193
156' 93?
33 557
'713
.203
157 682 159 433
146, 167 144,295
28 524
29 997
' 668
661
,204
206
141 252
141, 288
25 294
546
.206
161 402
13S, 285
28 949
558
.198
10,433
556
161,713
35, 525
9,905
27,384
28,160
3,868
107
40
2
38
v. 199
Revised.
* Preliminary.
i Beginning 1955, data include greases (other than2 wool) and both crude and refined products (except that production figures exclude refined lard)- refined
products (not included prior to 1955) are no longer reported separately from crude.
Beginning 1955, data are included with animal fats; see note 1.
* Beginning 1955, data may include
some refined fish oils (not formerly included); figures included for consumption and stocks of cod, cod-liver, and other liver oils are incomplete.
9 States represented are: North Carolina, South Carolina, Georgia, Florida, Alabama, Tennessee, Arkansas, Louisiana, Texas, Oklahoma. According to quarterly reports from Virginia,
consumption in that State is as follows (thous. short tons): 1954—January-March, 305; April-June, 315: July-September, 78: October-December, 81- 1955—January-March 287
? Re visions for 1952 will be shown later.
cfA. P. A. (available phosphoric acid).
stocks owned by the Commodity Credit Corporation (beginning January 1952 for refined oil and from May 1953 through June 1954 for cake and meal).
Digitized§ Includes
for FRASER
SUKVEY OF CURRENT BUSINESS
S-26
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
May 195;
1955
1954
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
January
February
March
April
CHEMICALS AND ALLIED PRODUCTS—Continued
FATS, OILS, ETC.— Continued
Vegetable oils, oilseeds, and byproducts — Con.
Flaxseed:
Production (crop estimate)
thous. of bu
Oil mills:
Consumption
do
Stocks, end of month
- _ _ . do._
Price, wholesale, No. 1 (Minneapolis) _dol. per bu._
Linseed oil, raw:
Production
_ _ . thous. of lb__
Consumption factory
do
Stocks at factory, end of monthcf - - - - - _ . d o _
Price, wholesale (Minneapolis)
dol. per l b _ _
Soybeans:
Production (crop estimate)
thous. of bu
Consumption factory
- - do_ _
Stocks, end of month _ - - do
Soybean oil:
Production:
Crude
thous. of Ib _
Refined. _
do
Consumption, factory, refinedcf
do
Stocks, end of month:
Crude
do
Refinedcf
_ _ _ _ _ - do_.
Price, wholesale, refined (N. Y.)
dol. per lb._
Margarine:
Production c?
thous. of Ib
Stocks (factory and warehouse) d*
do
Price, wholesale, vegetable, colored, delivered
(eastern U. S.)
dol. per lb._
Shortening:
Production
thous. of lb__
Stocks end of month
__.
__do
1
41, 534
2, 266
2,323
3.93
1,954
1,359
3.92
2,079
596
3.99
2, 248
1,179
3.88
2,596
1,782
3.63
3, 545
1,946
3.47
4, 058
2,718
3.41
3, 575
4,009
3.39
2,988
6,685
3.37
2,752
5,292
3.38
2,341
4. 550
3.35
1,884
4,276
3.36
3, 1381
2, 559
3.25
3." 24
44, 419
36. 362
466, 099
.145
38, 784
37, 349
438, 266
.141
40, 343
35, 141
375, 137
.142
44, 293
39, 263
331, 862
.153
50, 223
41,176
231, 572
.160
69, 697
43,111
218, 100
.160
79,719
53, 989
224, 903
.152
68, 821
41, 254
195, 183
.145
58, 487
44, 051
214, 023
.135
54, 165
39, 683
186, 697
.126
46, 204
34, 933
181, 927
.123
37, 058
40, 974
164, 731
.125
59, 703
43, 533
171,597
1.23
pl.24
21, 483
33. 243
19, 777
24, 355
19,525
1 7, 549
1
19, 252
52, 297
17, 649
43, 209
17, 546
33. 454
15,437
24, 598
15, 361
15, 321
14, 795
4,894
11,140
9,218
21, 735
37,312
22, 197
50, 740
342, 795
21,181
44, 613
213, 372
188, 570
183, 214
194, 526
180,911
187,113
193, 327
186,C97
182, 924
171,614
175, S31
180, 938
173, 189
127, 217
146,845
166,116
171,296
169, 920
125,318
148,712
169, 341
235, 894
198, 863
200, 722
239, 625
216, 262
204, 223
227, 765
204, 180
196, 475
230, 957
205, 325
192, 795
214, 068
187, 174
185,616
210,643
219, 803
219,097
140, 958
98, 466
.194
142, 208
98, 429
.204
127, 599
103, 331
.204
114, 142
96,919
.209
132, 221
78, 743
.209
117,683
78, 679
.213
73, 503
53, 722
.203
91, 115
54, 679
. 20?>
96, 887
59, 988
.192
109, 016
66, 755
.195
118, 602
80, 090
.194
128, 114
73, 078
.194
107, 732
68,163
.187
116,538
23, 867
118, 586
21,219
102, 844
25, 462
90, 334
24, 643
87, 339
22, 810
105, 344
23, 762
118, 051
19, 824
117,979
23, 615
134,717
19, 952
116, 346
27, 279
124, 476
2
23, 763
119, 803
2
25, 467
125,781
2
28, 390
.273
.273
.273
172, 515 168, 263
119, 826 2 128, 537
187, 778
2
150, 179
.273
.273
.283
.283
.283
.283
.283
.270
.267
.273
178, 279
88, 576
180, 323
83, 881
177, 934
96, 309
151,717
115, 786
112,336
98, 826
160, 463
104, 414
164, 422
96, 260
182, 323
108, 083
186, 148
106, 657
178, 888
122, 760
117,808
46, 792
71, 016
124, 629
46, 778
77, 851
123, 071
45, 275
77, 796
131, 926
46, 531
85, 395
118,024
41, 182
76, 842
121, 584
45, 042
76, 542
114.934
42, 925
72, 009
107, 498
43, 390
64, 108
103, 132
43, 448
59, 684
93, 633
41,811
51, 822
3,301
6,257
662
524
2,716
6,478
554
428
2,812
5, 370
483
401
3,323
6,416
431
430
1,894
5,193
271
371
2,962
7,134
366
548
3, 430
7,840
362
586
3,074
7.520
332
416
3,096
7,350
316
508
3,662
6,470
329
452
3,290
6,908
414
553
35, 421
37, 252
19, 958
46, 303
32, 796
10, 855
26, 381
31, 567
36, 889
17, 892
43, 413
31, 055
11,473
25, 448
32, 805
35, 039
18, 630
42, 163
30,152
12, 138
25, 500
29, 592
33, 250
18,174
43,814
31, 988
10, 344
23, 722
21, 680
28, 086
13, 371
36, 486
28, 004
9,760
22, 342
28, 824
31,808
18, 073
34, 341
27, 540
9, 396
26, 581
33, 519
37, 352
19, 588
44, 389
27, 411
9,767
27, 773
33, 057
39, 196
21, 132
48, 970
27, 943
9,702
32, 671
32, 893
36, 495
21, 281
46, 532
28. 487
10, 259
33, 204
33,010
35, 205
20, 344
49, 773
30, 285
9,209
36, 105
r 34, 394
36, 860
20, 698
* 53, 782
••31,441
2
p. 186
p. 273
PAINTS, VARNISH, AND LACQUER §
Factory shipments, total
Industrial sales
Trade sales _. _
_
thous. of doL.
do
- do__.
SYNTHETIC PLASTICS AND RESIN
MATERIALS
Production:
Cellulose acetate and mixed ester plastics:
Sheets rods and tubes
thous. of Ib
Molding and extrusion materials
do
Nitrocellulose sheets, rods, arid tubes .
do
Other cellulose plastics
do
Phenolic and other tar acid resins
Polystyrene
- Urea and melamine resins
Vinyl resins
- Alkyd resins
Rosin modifications
Miscellaneous resins
do
- do
do
do
do
- --do - _
do
109, 796 ' 104, 023 132, 448
45, 017 ' 44, 363 53, 818
64, 779 ' 59, 660 78, 630
3,215
7,177
364
559
37,195
36,146
20, 676
51, 650
31,765
r 11, 353 1
10,478
I 35, 806
' 37, 042
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial) , total t
mil. of kw.-hr_Electric utilities, total
do
Byfuels___ _
._
-..
do
By water power
.
do
45, 166
38, 918
28, 998
9,921
42, 857
36, 835
26, 925
9.910
43, 529
37, 429
27, 079
10, 350
44, 975
38, 901
29,315
9.586
45, 969
40, 077
31, 319
8,759
47, 196
41, 167
32, 825
8,342
45, 529
39, 547
31,743
7,805
46, 709
40, 456
32, 624
7,832
46, 464
40, 217
32, 101
8,116
49,887
43, 427
34, 379
9,048
50, 404
43, 955
34, 526
9,429
46, 269
40, 230
31, 659
8,571
51,153
44,449
34, 051
10, 399
Privately and municipally owned utilities. - - do
Other producers (publicly owned)
do
32, 719
6,199
30, 913
5,923
31,007
6,422
32, 535
6, 366
33, 279
6,798
34, 274
6,893
32, 978
6,569
33, 989
6,467
33, 889
6,329
36. 285
7,142
36, 294
7, 661
33, 230
7,000
36, 248
8,201
Industrial establishments, total __ ,
do
By fuels
do
By water power
_ __
-do
Sales to ultimate customers, total (Edison Electric
Institute) J
_
- - mil.ofkw.-hr Commercial and industrial:
Small light and power
__ . _ do . _ _
Large light and power
do
6,247
5, 781
467
6,021
5,573
448-
6,100
5,672
427
6,074
5, 681
393
5, §92
5,556
335
6,030
5,709
321
5,981
5,678
303
6,253
5,922
331
6,247
5,876
371
6, 460
6, 040
421
6,448
6,139
309
6,039
5,742
296
6,703
6,375
329
33, 032
32, 885
32, 483
33, 119
33, 845
35, 045
35, 149
35, 108
35, 392
37, 093
38, 198
5,794
15, 734
5,802
15,865
5, 805
16, 075
6,119
16, 440
6, 626
16, 167
6,795
16, 920
6,786
16,996
6,503
17, 385
6,264
17, 571
r
6,384
18,414
6, 397
18, 131
439
354
397
Railways and railroads
do
374
345
386
346
344
359
440
437
9,239
8,321
8,163
8, 425
Residential or domestic _ _
_.do_- _
8,942
8, 723
9,200
8,588
8,740
10, 203
11,071
945
818
1, 170
Rural (distinct rural rates)
- do _ _
663
756
894
637
1.236
1,118
720
601
273
Street and highway lighting
._
do
342
311
290
282
364
389
305
417
328
421
747
768
Other public authorities. _ _
- d o __
763
769
773
797
798
813
807
820
829
49
Interdepartmental
do
53
53
57
56
57
57
55
49
47
40
Revenue from sales to ultimate customers (Edison
Electric Institute)!
thous. of doL. 589, 223 585, 598 579, 131 587, 473 603, 767 616, 706 620,917 618, 364 620, 306 644, 528 660, 153
T
l
2
Revised.
» Preliminary.
December 1 estimate of 1954 crop.
Beginning January 1955 excludes quantities held by consuming factories. Comparable data for December 1954
(units as above): Margarine, 26,960; shortening, 119,597.
c? Revisions for 1952 for linseed oil and soybean oil and for September 1951-September 1952 for margarine will be shown later.
§Revisions for 1952 appear in the September 1953 SURVEY; those for 1951 will be shown later.
{Revisions for 1952 for electric-power production are shown in the October 1953 SURVEY; those for electric-power sales and revenues, in the October and November 1953 issues.
May 1955
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
SUEVEY OF CUKRENT BUSINESS
S-27
1954
March
April
May
June
July
August
1955
Septem- October Novem- December
ber
ber
January
February
March
April
ELECTRIC POWER AND GAS—Continued
GAS
Manufactured and mixed gas (quarterly) :c?
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
Re venue from sales to consumers total thous of dol
Residential (incl house-heating)
do
Industrial and commercial
do
Natural gas (quarterly) : cf
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
5,996
5, 557
436
1,123
794
320
149,015
111,429
36, 718
5, 876
5,447
427
808
502
299
109, 536
78, 500
30, 400
5 831
5 408
*421
536
280
252
77 386
52, 728
24 239
5,763
5 341
420
840
545
289
114 157
83, 301
30 242
21, 183
19, 462
1,696
17, 940
7,688
9,599
884, 848
564, 400
304, 253
21, 220
19, 546
1,648
13, 198
3,755
8,873
575, 082
314, 607
246, 605
21, 344
19 707
1 611
11 237
1 577
8 989
410, 366
166 266
328 550
22, 027
20 257
1 742
15 243
4 692
9 754
691 519
384 838
286 716
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:
7,918
8, 556
7,949
* 9, 551
9,302
8,370
5,772
Production
thous of bbl
5,638
6, 486
6,216
6,986
6, 176
7,899
6,607
7,239 ' 8, 659 8,886
7,011
8,112
6,142
5,330
6,902
Tax-paid withdrawals
- do
7,138
6,475
6,440
5,388
'
10,
404
11,541
10,
680
11,846
11, 658
11, 391
9,647
Stocks end of month
do
10, 074
10, 193
10, 779
9,506
9,162
9,573
Distilled spirits:
r
16, 360 ' 14, 688 ' 13, 881 ' 14, 137
9,523
Production
thous. of tax gal
8,747
26, 958
13, 753
15, 787
21, 586
16, 024
13, 267
15,671
Consumption, apparent, for beverage purposes
15,
736
14,519
15,365
14,
975
13,
780
13, 753
thous. of wine gal_.
15,803
12,949
19, 541
12,333
15,768
17, 792
23, 008
' 1 2, 722. r ' 12, 030 ' 11, 858 M2.056
9,604
9, 805
T ax-paid withdrawals - _ _ _ - thous. of tax gal
15, 722
10,007
13, 403
13, 487
8, 654
15, 883
10, 667
864, 231 864, 01 7 * 864, 001 r 864, 328 863, 5£3 861,034 854, 556 848, 142 844,415 '840,716 842, 588 843, 285 842, 565
Stocks end of month
do
1,529
1,521
1, 694
1,761
1,389
1, 496
Imports
_ thous. of proof gal
2,344
3,151
1,374
2, 444
2,006
1,307
Whisky:
r
10, 101 ' 9, 800 ' 9, 586 ' 9, 366
5,741
Production
. _ _ __
thous. of tax gal- _
5, 057
6, 355
9,263
10, 725
11,578
8,239
9,470
10, 286
' 6, 271 5,998
5, 748
4,129
5,738
Tax-paid withdrawals
do
4,898
7,292
8,610
8,907
4,742
5,609
7,027
6,022
718,516 718,726 719,567 r 720, 699 721, 020 719, 114 715, 191 712,017 710, 071 711,854 708, 242 709, 665 710, 970
Stocks, end of month
, __do
1,395
1,388
1,551
1,616
1,288
Imports
thous. of proof gal- 1,316
1,834
2,891
2,123
1,162
1,258
2,209
Rectified spirits and wines, production, total § J
5,457
7,091
5,304
thous. of proof gal. - ' 7, 406 r 6, 608 rr 6, 875
7,852
10, 036
7,164
9,821
5,485
6,224
4,701
' 6, 350 ' 5, 825 6, 008 '6,112
4,825
Whiskv__ ._
. -_ . do
4,506
8,910
6,957
6, 445
8,868
4,012
4,907
5,500
Wines and distilling materials:
Sparkling wines:
147
223
59
Production J
thous. of wine gal__
186
'108
117
49
85
118
160
105
143
227
81
74
95
67
112
Tax-Y>aid withdrawalsj
do
97
159
192
112
158
83
229
107
1,272 ' 1, 296 1,418
Stocks, end of month t
do
1,458
1,478
1,449
1,335
1,175
1,259
1,105
'1,072
1,049
1,036
28
Imports. . _ _.
_._ do
29
44
44
41
35
53
79
108
30
29
127
Still wines:
1,477 '1,404 r 1,114
936
891
3,398
Productiont
do
26, 985
65, 505
20, 795
1,926
3, 628
1,945
1,620
12, 353 r r 10, 444 f 9, 842
9,072
Tax-paid withdrawals!
do
10, 469
9,873
11,899
12, 299
12, 726
13, 167
9, 999
10,123
12, 698
r
170, 745 159, 748 ' 150, 758 140, 525 130, 885 123,334 139, 287 195, 813 202, 620 192, 400 182, 237 172, 024 160, 347
Stocks, end of month t
do
404
332
582
494
Imports.. _. __ --- _ .
_ _ d o _459
364
424
792
544
402
733
410
2,128
593
1,590
486
Distilling materials produced at wineries!
do
5, 501
9,020
61, 975 119, 756
40, 197
3,204
1,938
6,212
1,737
DAIRY PRODUCTS
Butter, creamery:
Production (factory)t
thous. of lb__ 143, 275 141, 955 164, 520 160, 855 129, 685 109, 355 92, 600
87, 825
86, 835
96, 975 107, 240 101,750 119,380
346, 542 375, 584 421, 997 468, 453 503, 921 508, 476 488,618 463, 183 423, 347 378,610 341, 655 314, 568 '•311,462
Stocks, cold storage, end of month
do
.651
.577
.578
Price, wholesale, 92-score (New York). -dol. per Ib__
.583
.575
.579
.595
.601
.600
.583
.579
.608
.581
Cheese:
Production (factory), totalt
thous. of lb_- 120, 280 131, 790 158,515 155, 035 127, 180 109, 575 91,815 85, 690
82, 530
93, 295
89, 370
90, 400 110,940
91, 490 101,410 126, 325 124, 255 100, 160 84, 005 67, 135 60, 540 57, 180 61, 150 64, 085 63, 450 80, 760
American, whole milkt
do
Stocks, cold storage, end of month, total
do
450, 299 487, 209 521, 763 567, 541 607, 993 613, 238 613,146 595, 953 579, 933 548, 850 522, 676 499, 742 ' 493, 433
American, whole milk
do
426, 049 460, 566 494, 770 538, 051 572, 290 578, 765 580, 089 564, 533 549,511 518, 879 492, 833 470, 092 r 462, 949
Imports _ _ _ _ _ _ _ _ _ _ _ _ _ _
do
2,562
4, 851
4,163
4,236
4, 510.
2,934
4,972
6,664
4,558
3,502
5, 111
3,509
Price, wholesale, American, single daisies (Chicago)
dol. per Ib. _
.375
.383
.371
.370
.369
.372
.376
.379
.378
.374
.369
.370
.370
Condensed and evaporated milk:
Production, case goods :J
2,100
Condensed (sweetened) _ _
thous. of Ib
2,480
1,950
1,660
1,736
2,570
1,930
2,175
1,560
2,625
2,030
2,950
2,175
E vaporated (unsweetened)
do
194, 900 244, 100 315, 300 307, 500 265, 000 239, 500 188, 000 158,750 151, 250 154, 500 164, 000 ' 174, 800 230, 350
Stocks, manufacturers', case goods, end of month:
Condensed (sweetened)
_ ...
thous. of Ib
5,373
4,997
4,723
5,242
5,010
5,134
4,762
5, 113
4,934
3,773
4,775
3, 895
4, 569
E vaporated (unsweetened)
do
102, 634 127, 708 231, 456 320, 487 381, 143 410, 355 410. 170 355, 473 290, 624 206, 519 143, 494 104, 537 97, 640
Exports:
Condensed (sweetened)
do
56
89
77
96
22
27
164
453
267
52
53
19
Evaporated (unsweetened) ___ _
do
11,397
8,901
12, 312
13, 120
14, 773
10, 488
11,923
8,307
10, 526
8,227
11, 373
14, 079
Price, wholesale, U. S. average:
Evaporated (unsweetened).
dol. per case
5.69
5.44
5,39
5.50
5.45
5.54
5.55
5.56
5.56
5.56
5.56
5.56
5.57
Fluid milk:
10, 683 11. 280 12, 999
Productiont- - _ _
mil. of Ib
11, 558
12, 600
9,369
10, 474
9,021
8,474
8,841
9,105
8,884
10, 447
Utilization in mfd. dairy products
do
4, 513
4,744
5, 654
4,542
5,528
3,904
3,272
3,044
2,960
3,249 ' 3, 520 3,396
4,095
Price, dealers', standard grade
dol. per 100 Ib
4.96
4.75
4.61
4.72
4.58
4.82
4.96
5.01
5.03
5.03
4.98
4.93
'4.84
Dry milk:
Pro duct ion :£
Dry whole milk
thous. of lb__
6, 025
9,975
10, 500
8,730
10, 660
7,175
6,800
6,640
6,100
7,100
7,250
6, 400
8,150
Norifat dry milk solids (human food)
do
134. 800 140, 200 166, 000 155, 000 112, 250 83, 500 65, 775 66, 250 65, 350 84, 800 95, 400 90, 400 112, 000
Stocks, manufacturers', end of month:
Dry whole milk
do
7,629
8,692
10, 433
12, 910
11, 956
10, 783
9,624
8,415
8,615
8,245
8,238
6,712
7,678
Nonfat dry milk solids (human food)
do
85, 511 83, 977 106, 706 112, 120 91, 505 71. 584 54, 159 43, 804 40, 796 51, 250 55, 826 60, 918 64, 126
Exports:
Dry whole milk
do
2,826
4,906
5,729
4,322
4,286
4,178
3,724
2,821
2,243
3,130
2,982
3,616
Nonfat dry milk solids (human food) _ _ do
20, 107
4,655
17, 231
31, 787
8,080
4,782
10, 445
5,354
6,054
13, 830
25, 699
2,617
Price, wholesale, nonfat dry milk solids (human
food), U. S. average
dol. per lb__
.149
.146
.143
.142
.145
.151
.153
.154
.154
.155
.154
.154
.153
r
Revised.
d" Re visions for 1952 appear in the Oct ober 1953 SURVEY; those for 1,be 1st an I 2d quar ters of 195 3 are avail able upon request,
§Data beginning July 1954 exclude production of wiiles and ve rmouth; f or July 1953-June 1 )54 such p roduction totaled 4 l,000gallo ns.
t Revisions for July 1952-March 1953 for rectified spirits, etc., and wine s and distilling ma terials ap]pear in th e June 1954 SUEVE Y; those ]arior to 1954 for ot her indiCcited item s
shown later.
293,156
.579
499, 527
466, 130
.370
11,264
4.71
will be
SURVEY OF CURRENT BUSINESS
S-28
May 1955
1954
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
April
Tune
May
July
1955
DecemOctober NovemAugust September
ber
ber
January
February
March
April
FOODSTUFFS AND TOBACCO—Continued
i
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
Shipments, carlot
Stocks, cold storage, end of month
i
thous of bu
no. of carloads..
thous. of bu._
Citrus fruits, carlct shipments
no. of carloads..
Frozen fruits, juices, and vegetables:
Stocks, cold storage, end of month:
Fruits
.
thous. oflb..
Fruit juices
_ - __do
Vegetable*5
do
Potatoes, white:
Production (crop estimate)
thou c of bu
Shipments carlot
no. of carloads
Price, wholesale, U. g. No. 1 (New York)
dol. per 100 lb_.
3,061
6, 095
r 2, 395i
3,267
' 10, 705,
r
11, 214
<• I, 896^
1,302
r
848
440
r
11,418
253. 404 210,331 199.389
' 367, 784-432,475 ••528,678
'51 2, 867 r 469, 983 r 445, 851
r
r 23, 937
19, 664
r
20, 529
••501
162
9, 217
* 6, 697
221.658
500. 819
443, 724
336, 630
458, 007
492, 594
r
21,142
r
r
834
6,959
197
245
r 3, 435
30, 896
1
103 773
' 2, 787 r 2, 896
24, 878
30, 995
2,471
18, 975
9, 445
r 4, 743
•• 4, 422
374, 543
401, 550
602, 309
399, 606
338, 537
698, 084
413, 657
294, 319
709,915
399. 410
253, 837
689. 266
12, 549
Ml, 887
r 14, 864
r
i 355 069
' 12, 788 r 14, 141
18, 281
4.835
3.089
3.081
3. 500
3.981
3.375
4.054
23, 484
30. 062
32, 625
27, 907
31,570
r
' 5, 027 ' 7, 269
15, 992
r 11,610
377, 950
248, 001
649, 321
'2,413
13, 194
r
2. 498
r7,793
2. 158
4.129
r
•• 9,o03 j
S, 907
8, 678
r
348, 163! 309, 152
8,2!6; 222, 172
296, 333 357, 503 ' 386, 726 445, 222
r
576, 981 505, 428
6,9«5 422. 162
»• 16, 750 "'•22,498
20." 742
3.400
3. 663
3.698
3.225
3.342
' 26, 962 ' 21, 842 29, 743
29. 395
41, 106
' 35, 658
43, 297
16, 321
8,975
10, 311
7, 140
27, 141
27,517
23, 121
165, 805
4,201 " "i~326 "~~3~ 761
21,184
117, 470
19, 701
1.443
1. 342
3. 751
t > 7 . 170
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 farms
_
do
Exports including malt
do
Prices, wholesale (Minneapolis) :
No. 2, malting
dol. per bu..
No. 3, straight ....
do
Corn:
Orindings, wet process
thous. of bu_.
Receipts, principal markets
. _ _ . do
Stocks, domestic, end of month:
Commercial
- - - do.
Exports including meal
thou^ of bu
Prices, wholesale:
No. 3, yellow (Chicago)
dol. per bu._
Weighted average, 5 markets, all grades _ do
Oats:
Receipts, principal markets
-thous. of bu_.
Stocks, domestic, end of month:
Commercial
do
On farms
do
Exports including oatmeal
do
Price, wholesale, No. 3, white (Chicago) dol. per bu__
8, 566
7, 594
6, 531
7, 685
8,238
28, 856
17, 168
14, 376
i 370, 1?6
10,070
15,140
8.923
75, 531
526
7, 119
6, 500
11,932
20, 050
26, 946
872
4." 927
1~825
23, 495
226, 695
2,791
24, 258
846
9.121
2 35. 290
2, 507
1.483
1.374
1.505
1.396
1.518
1 . 456
1 . 490
1.375
1.456
1.323
1.397
1.290
1.429
1. 328
1.454
1.378
1. 456
1.364
1.420
1.290
1.441
1.350
1.431
1.413
1.439
1.342
11,466
24, 741
11,127
22, 798
10, 263
25, 835
10, 326
25,151
10, 041
24, 105
10, 609
29, 369
10, 918
21,352
12, 163
21,371
12, 102
53, 835
i 2, 965
11,670
30, 975
10, 954
27, 831
10, 836
19, 423
11, 949
15, 530
33, 793
1, 473. 7
7,712
21, 704
16, 984
14,831
50, 873
63, 192
46, 385
4,977
3,853
7,226
9,840
56, 511
1,410 0
6,912
60.218
2. 070. 2
9, 569
62, 809
5, 185
18, 052
359. 3
3,629
20, 560
7,101
15,945
989.8
5, 098
12, 866
8,221
1.560
1.502
1. 571
1.504
1.585
1. 532
1.610
1.577
1.614
1.581
1.652
1.610
1.639
1.601
1.540
1. 522
1.481
1 . 462
1. 522
1.450
1.524
1.448
1. 495
1.434
1.463
1.390
1.460
1. 439
4,886
4, 602
5, 818
7,241
16, 842
?5, 750
10, 638
7,231
7,840
i 1,500
10, 510
12, 704
8,193
7,159
8,648
447, 253
363
.781
4,750
4,600
11,729
24,900
19, 992
20, 448
20, 499
348
.786
779
.851
1,862
.814
1,260
.797
17, 887
553 25?
15, 866
118
.770
26, 377
1, 182, 323
272
345
.758
.721
26, 278
227
.792
4,872
0° 778
209
.763
,771
.712
11,471
28, 807
10,373
7,676
145, 678
36, 349
13, 287
29
217
.708
2
~ 3,214 """3," 160
20, 055
922 637
701
.839
Rice:
i 58, 853
California:
Receipts domestic, rough
thous. of Ib
Shipments from mills, milled rice. . . . . do.. .
Stocks, rough and cleaned (cleaned basis), end
of month
thous. of lb_.
Southern States (Ark., La., Tenn.,Tex.):
Receipts rough at mills
thous. of Ib
Shipments from mills milled rice
do
Stocks, domestic, rough and cleaned (cleaned
basis) end of month
mil. oflb
Exports
thous oflb
Price, wholesale, head, clean (N. 6".).. dol. per lb_.
118,669
78, 605
84, 516
66, 150
61, 873
48, 757
52, 410
36, 159
36, 656
29, 573
59, 246
54, 741
47, 454
43, 304
35, 968
84, 161
161, 955
36. 832
100, 069
37, 382
124, 217
51,924
102, 436
48, 217
118,490
654.6
162, 158
.093
573.7
88, 483
.090
390.6
102, 422
.090
327.3
47, 048
.085
272.0
42, 229
.086
231
9,811
1.151
667
8,953
1.116
921
8,782
1.101
1,684
8,445
1.061
1,006
11,708
1.250
93, 881
29. 233
85, 157
33,125
31,945
28, 489
129, 028
70, 745
125, 049
133, 373
119.108
101, 450
67. 491
11, 861
66, 674
96, 857
117,630
109, 027
127, 276
85, 952
447, 848 1, 113, 665
172,842 216,034
721,412
197, 656
173,728
121,645
62, 941
98, 056
50, 954
113, 344
61, 315
112,015
58, 409
133, 727
361. 3
74, 435
.075
821.8
112, 973
.074
1,071.8
98, 694
.083
1,049.6
61,983
. 094
987.9
44, 623
.094
916.5
42, 515
.094
784.8
25,011
.094
1,31(
12, llf
1.275
853
12, 047
1.428
1,042
12, 161
1.370
1, 108
11, 662
1.321
i 23. 688
921
10, 94C
1.300
1,296
8,984
1.420
419
9,374
1.396
28, 032
19, 823
Rye:
Receipts, principal markets _ _ _ .
.
do
Stocks, commercial, domestic, end of month. ..do
Price, wholesale, No. 2 (Minneapolis) ...dol. per bu_.
Wheat:
j^priiif,
e di
__ u__ _
Receipts principal markets
thous of bu
Stocks, end of month:
Canada (Canadian wheat)
.
- do-. .
United States, domestic, totalcf
mil. of b u _ _
Commercial
thous. of bu
Interior mills, elevators, and warehouses
thous. of bu__
Merchant mills
do
0 1 1 farms
do
Export15 total including
"W heat only
flour
do
do
22,028
' 205, 293
105, 576
,54, 867
354, 795 348, 139 339, 201 349, 007 379, 215
2 901. 9
' 1, 127. 9
2
* 298, 934 ""295," 060 "291," 191 296,715 "394,609
~~4i4~58(J
19, 660
60. 332
228, 245
26, 953
2
r 380, 137
104, 778
r 296, 598
;::::::::
14, 877
11,677
20, 768
17, 249
365, 638
331, 619
63. 829
2 99; 038
20, 092
17, 089
29, 456
22, 438
20, 896
17, 379
17,952
14, 960
r
15,075
12, 074
' 518, 051
126, 382
315,689
21, 603
17, 527
3 29, 346
206
8,779 ~"~8~498
1.246
1.322
27, 482
254, 125
428 636
101, 468 I. ........
207, 920
26. 193
22; 331
24, 455
21, 036
27, 924
23, 846
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
2.747
2.708
2.669
2.642
2.643
2.578
2.695
2.758
2.729
2.620
2.602
dol. perbu..
2. 439
2.324
2.352
2.411
2.370
2.153
2.389
2.465
2.443
2.447
2.417
No 2 hard winter (Kansas City)
do
2.105
2.162
2.147
2.
266
2.
280
2.101
1.852
1.967
2.338 i
2.210
2.327
No. 2, red winter (St. Louis)
do
2.544
2.358
2.678
2.672
2.646
2. 635 1
2.293
2. 578
2. 659
2.589
2. 545
Weighted aver.. 6 markets, all grades
do
r
l
P Preliminary.
December 1 estimate of 1954 crop.
2 Revised.
3
Old crop only; new grain not reported until beginning of new crop year (July for barley, oats, and wheat; October for corn).
May estimate of 1955 crop.
9 Bags of 100 Ib.; prior to the October 1953 SURVEY, data were shown in thous. of bu. of 45 Ib.
a*The total includes wheat owned by the Commodity Credit Corporation and stored off farms in its own steel and wooden bins; such data are not included in the
p . 105
3 652. 9
r
20,924
17, 082
.094
354. 877 357, 151 348, 267 333, 891 328, 052
1, 465. 9
1, 212. 4
374. 36k ""366," 942 "§56," 237 ' 351, 913 351, 749
335, 421 334, 158 337, 675
1, 676. 6
422, 772 "4137494 "387,159
539, 152
158, 981
429. 474
2
24, 535
21, 524
47, 508
195, 401
i 969. 8
H79.0
i 790. 7
25, 923
211, 230
653. 8 - - - - - - - - -
2.756
2.410
2. 230
2. 610
2.708 ;
2.456 i
2.205 !1
2.603
2, 668
2. 461
2. 204
2,593
breakdown of stocks.
SUKVEY OF CUERENT BUSINESS
May 1955
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
S-29
1955
1954
April
May
June
July
August SeptemOctober
ber
No v e m
b er -
December
January
February
March
April
FOODSTUFFS AND TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Continued
Wheat flour:
Production:
18,871
17,217
Flour
thous of sacks (100 Ib.)
77.0
73.5
Operations percent of capacity
376,
594
339,
250
Offal
short tons
43, 729
39, 874
Grindngs of wheat
thous ofbu
Stocks held by mills, end of quarter
4,470
thous of sacks (100 Ib )
1,373
1,510
Exports
do
Prices, wholesale:
Spring, short patents (Minneapolis)
6.355
6.400
dol. per sack (100 lb.)~
6.055
6.035
Winter, hard, short patents (Kansas City) .-do
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
thous. of animals
Cattle
do
Receipts principal markets
do
Shipments, feeder, to 9 corn-belt States
do
Prices, wholesale:
Beef steers (Chicago) _.
__ dol. per 100 Ib
Steers, stocker and feeder (Kansas City)
do
Calves, vealers (Chicago)
..
do _
Hogs:
Slaughter (federally inspected)
thous. of animals. _
Receipts, principal markets
do
Prices:
Wholesale, average, all grades (Chicago)
dol. perlOOlb..
Hog-corn price ratio
bu. of corn equal in value to 100 Ib. of live hog_.
Sheep and lambs:
Slaughter (federally inspected)
thous. of animals. _
Receipts principal markets
do
Shipments, feeder, to 9 corn-belt States
do
Prices, wholesale:
Lambs, average (Chicago)
dol. per 100 Ib
Lambs, feeder, good and choice (Omaha)..- do
MEATS
Total meats (including lard) :
Production (inspected slaughter)
mil of Ib
Stocks (excluding lard), cold storage, end of month
mil.oflb..
Exports
do
Beef and veal:
Stocks, cold storage, end of month
do.
Exports
do
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs) (New York) . ...
dol. per Ib
Lamb and mutton:
Production (inspected slaughter)
thous of Ib
Stocks, cold storage, end of month
do
Pork, including lard, production (inspected slaughter)
Pork, excluding lard:
Production (inspected slaughter)
do
Stocks, cold storage, end of month
do
Exports
... . _
..
do
Prices, wholesale:
Hams, smoked, composite
dol. perlb..
Fresh loins, 8-12 Ib. average (New York)... do
Lard:
Production (inspected slaughter)
thous of Ib
Stocks, dry and cold storage, end of monthf do
Exports.. . . . _
_
.
do
Price, wholesale, refined (Chicago)
dol. per lb._
16,685
74.9
327, 804
38, 582
18,041
77.4
363, 478
41,913
18, 022
77.2
361, 956
41, 902
18, 786
80.4
380, 751
43, 752
19, 733
88.2
397, 086
45, 846
19, 688
88.0
397, 719
45, 805
19, 216
85.9
387, 185
44, 656
19, 174
78.3
382, 856
44, 524
19, 156
85.6
384, 216
44, 567
17, 714
83.1
356,211
41, 186
1,292
4,046
1,289
1,510
1,284
5,232
1,288
1,649
1,749
4,661
1,658
1,467
1,750
6.510
6.135
6.765
6.145
6.960
6.050
6.685
5.995
6.830
6.175
6.925
6.295
6.940
6.235
6. 910
6.325
6.755
6.205
6.650
6.025
19, 884
81.1
394, 156
46, 104
4,713
6. 805
6.095
P6.645
p 6. 060
j
660
1,511
2,337
220
598
1,417
2,048
217
561
1,439
2,165
181
622
1,570
2,316
130
640
1,622
2,298
174
649
1,635
2,736
314
706
1,638
2,878
540
738
1,616
2,993
939
694
1,602
2,980
815
639
1,583
2,177
355
563
1,521
2,322
294
517
1.313
1,767
171
660
1,524
2,086
212
596
1,452
22.88
19.81
26.00
23.77
20.62
26.00
23.54
20.44
23.00
23.49
18.20
21.00
23.47
16.12
20.00
23.71
17.88
21.75
25.00
18.10
22.00
25.42
18.84
22.50
26.11
19.63
20.00
26.21
19.23
21.00
26.12
20.40
27.00
24.46
20.46
29.00
24.12
21.28
25.00
23.36
21.25
P 26. 00
4,554
2,450
3,853
2,073
3,380
1,909
3,453
1,993
3,325
1,900
3,852
2,251
4,743
2,496
5,178
2,746
5,841
3,308
6,119
3,315
5,519
3,183
4,638
2,587
5,491
2,924
4,472
25.63
26.75
24.79
21.43
19.75
20.50
19.51
18.66
18.39
16.97
16.51
15.91
15.90
16.48
17.2
18.3
17.5
14.6
14.1
14.1
12.9
12.7
13.6
12.2
12.1
11.7
11.3
12.2
1,149
1,128
188
1,096
1,203
202
1,045
1,133
147
1,200
1,193
90
1,209
1,140
100
1,207
1,391
248
1,290
1,806
631
1,291
1,841
539
1,160
1 323
344
1,167
1 192
185
1,223
1,334
226
1,080
1,029
135
1,244
1,166
120
1,180
24.25
21.44
27.75
22.31
25.88
0)
24.00
0)
21.25
0)
19.50
17.67
19.50
17.46
19.38
17.50
19.75
17.70
19.25
18.05
20.88
20.22
21.75
20.75
22.75
20.97
21.50
19.83
1,772
1,609
1,563
1,683
1,641
1,673
1,796
1 897
2 026
2 120
1,993
1,665
1,962
33
706
59
653
64
605
47
530
48
467
43
'477
65
638
78
800
81
844
75
837
69
886 182
186, 362
84C
828 596
160, 002
4,464
838 154
138, 622
1,250
905 294
127, 141
1,088
920, 803
122, 333
2,198
Q19 606
126, 183
1,650
917 746 924 790
121, 290 ••137,159
3,07£
2,346
901 498
177, 078
3,280
912 239
208, 380
6,718
883 371
193, 580
6,993
.417
r730
443
41
••835
823
760 473 890 867
166, 014 ' 154, 349 142, 836
6,443
.392
.398
.408
.405
.414
.438
.443
.450
.455
.460
.449
.435
.417
55, 672
9, 445
52, 190
8,897
48, 262
8,135
51, 950
r
8, 709
52, 385 53, 001
' 7, 780 7,867
55, 324
7,359
56 119
7,741
52 466
8,518
54 704
9,714
58 810
8,767
53, 174
8,743
61, 429
••9,089
9,715
830, 303
727, 839
676, 709
725, 640
667, 645
700 693
822 728
915 733 1 071 719 1 153 2381 050 606
851 694 1 009 567
628, 446
418, 283
3,832
547, 809
420, 917
4,200
505, 239 538, 092 491, 002
384, 643 ' 346, 765 «• 283, 541
5,422
3,658
4,016
526 732
228, 738
3,779
622 033
215, 057
2,7H
681 669
233, 612
4,995
799 131
340, 874
6,692
843 809
448, 645
4,037
771 981
504, 624
4,843
628 102
530, 537
6,476
.660
.540
.671
.574
.669
.626
.646
.587
.611
.598
.630
.534
.553
.513
.521
.450
.546
.459
.556
.412
.536
.431
147, 106
78, 945
23, 359
.208
131, 394
74, 024
42, 042
.233
125, 254
69, 278
50, 908
.205
137,369
65, 689
33, 365
!l90
129, 394
58, 065
29, 808
.205
127, 058
47, 818
29,047
.213
146, 772
50, 460
25, 344
.208
171 156
51, 349
46, 022
.185
198 822
75 160
55, 013
.190
225 859
104 125
57, 324
.173
39, 205
184, 743
43, 216
167, 499
47, 393
151, 147
42, 779
141, 651
47, 532
146, 651
55, 555
188, 417
64, 612 ' 74, 024
275, 192 291, 504
64.744
269, 863
749 899
543,' 929
541, 686
.479
.425
.479
.422
P . 506
.453
203 886
124 391
54, 807
.163
163 743
137 8^2
47, 253
.153
189 884
137, 357
40, 480
251, 296
40, 666
39, 349
36, 267
211, 258 ' 162, 472 128, 271
f
.156
P. 167
POULTRY AND EGGS
Poultry:
41, 189
Receipts, 5 markets
thous. of lb-_
217, 456
Stocks, cold storage, end of month
do
Price, wholesale, live fowls, heavy type, No. 1
.300
(Chicago)
dol. per lb._
Eggs:
6,621
Production, farm
millions..
3,140
Dried egg production
thous of Ib
Stocks, cold storage, end of month:
••442
Shell
_.
_.
thous. of cases
Frozen
thous. of lb. . 91, 940
Price, wholesale, extras, large (Chicago)
.403
dol. per doz._
.220
.240
.190
.165
.185
.175
.160
.180
.175
M88
6,300
3,156
6,125
3,178
5,317
2,398
4,850
1,869
4,648
1,215
4,694
953
5,085
792
5,166
900
5,589
1 336
5,771
1 919
728
136, 488
1,348
166, 983
1,639
186, 189
1,435
180, 777
1,031
160, 797
833
138, 784
636
117, 958
325
94, 658
193
74, 928
235
66, 245
.380
.355
.351
.397
.398
.427
.409
.381
.317
.334
.243
'.280
P. 240
6,529
6,584
2 357
r 479
1, 177
268
62, 517 ' 83, 672 124, 534
5,518
1 902
.422
.410
.373
MISCELLANEOUS FOOD PRODUCTS
83, 931
74, 768
59, 390
61, 415 48, 719
Confectionery, manufacturers' salest
thous. of dol._
65, 541 103, 120 101, 740 115, 330
99, 814
84, 645 p 85, 277
83, 611
Cocoa or cacao beans:
11, 905
14, 265
11, 991
22, 215
17, 485
Imports (incl. shells)
long tons..
12, 516
14, 591
11, 861
17, 024
27, 181
18 874
22 494
.578
.619
.639
Prices, wholesale, Accra (New York)
dol. per lb._
.648
.689
.678
.537
.471
.475
.518
.488
P. 375
.468
'.400
Coffee:
1,409
454
1,060
468
Clearances from Brazil, total
thous. of bags..
599
522
932
818
1,629
1,082
923
918
578
795
485
183
To United States
do
146
266
119
493
363
1 170
630
424
490
228
735
694
637
832
Visible supply, United States
..do
941
820
765
695
793
799
729
776
517
1,945
1,923
Imports
do
1,100
1,250
980
878
660
1 242
871
2 084
1 694
1 338
Price, wholesale, Santos, No. 4 (New York)
.858
.870
.855
dol. perlb__
.870
.883
.718
.755
.700
.720
.685
.580
.670
.545
'.583
1
' Revised.
f Preliminary.
No quotation.
tRevised 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 June 1952
will be shown later.
^Revisions for 1952 and January-May 1953 are shown in the August 1954 SURVEY.
SURVEY OF CUREENT BUSINESS
S-30
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
May 1955
1954
April
June
May
1955
DecemOctober NovemAugust September
ber
ber
July
January
February
March
April
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS— Con.
Fish:
Landings, fresh fish 5 ports
thous of Ib
Stocks, cold storage, end of month
do
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
short tons
Imports :cf
Raw sugar, total
do
From Cuba
do
From Philippine Islands
do
Refined sugar, total
do
From Cuba
do
Prices (New York):
Raw, wholesale
dol. per lb._
Refined:
Retail 9
dol. per 5 Ib
Wholesale
dol. per lb__
Tea imports
thous of Ib
TOBACCO
Leaf.
Production (crop estimate)
mil of Ib
Stocks, dealers' and manufacturers', end of quarter total
mil oflb
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 oflb
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 (large), tax-paid§
thousands
Manufactured tobacco and snuff, tax-paid§
thous of Ib
Exports cigarettes
millions
Price, wholesale, cigarettes, manufacturer to wholesaler and jobber, f. o. b. destination
dol. per thous..
41, 524
110, 328
59 452
118, 806
75 834
140 009
84, 605
163, 697
73 274
190, 538
47, 478
202, 228
48, 307
204, 722
35, 270
206, 437
25, 716
194, 338
20, 787
175, 001
27, 170
150, 471
128, 115
4,341
4,316
3,991
3,712
3, 262
2,812
2,637
2,447
2,037
1,712
2,513
4,288
27, 365
522, 494
147, 957
823, 814
822, 844
970
51, 311
762, 870
287, 257
574, 426
569, 756
4,670
60, 519
617, 552
181, 301
659, 133
655, 707
3, 426
56, 392
598, 368
190, 496
808, 299
807, 168
1,131
44, 495
544, 041
159, 787
772, 780
770, 000
2,780
96, 464
759, 214
228, 846
792, 402
792, 000
402
131, 000
471, 248
200, 094
792, 383
788, 000
4,383
601, 213
426, 594
283, 327
642, 314
642, 000
314
797, 114
202, 728
134, 861
636, 664
633, 207
3,457
1,479
276
1,625
1,039
1,625
291
1,484
458
1,239
439
1,108
439
929
474
1,261
351
1,748
467
1,927
690
1,889
583
1,823
541
363, 956
282, 575
81, 336
54, 938
50, 062
428, 712
292, 522
136, 185
51, 375
45, 753
331, 129
227, 304
103, 825
57, 212
52, 728
370, 023
201, 573
162 623
60, 048
50, 110
285, 305
165, 368
115, 160
64, 165
60, 609
333, 189
231, 782
96, 432
40, 555
39, 455
282, 688
160, 492
86, 036
2,585
540
155, 555
120, 246
35 309
2,492
640
118, 165
77, 843
29, 774
859
103
101, 403
87, 990
3,051
679
50
329, 562
263, 644
65, 840
23, 063
14, 144
303, 089
229, 478
73, 616
42, 861
30, 933
.063
.062
.061
.061
.062
.061
.060
.059
.062
.060
.060
.060
.058
P. 059
.499
.086
10, 783
.503
.086
17, 589
.502
.086
13, 984
.502
.086
9,828
.502
.086
5,786
.500
.086
5,765
.502
.085
7,114
.498
.085
6,599
.498
.085
7,175
.497
.085
8,494
.498
.085
10, 198
.497
.085
10, 225
.494
.084
p. 084
41 265
112, 288
' 3, 701
43, 747
549, 214 149, 465
215, 486 317, 409 443, 730
29, 065 102, 247
146, 234
671, 196 ' 570, 000' 572, 995
669, 122 r 568, 000 r 569, 723
2,074
2,468 •• 3, 272
4,688
558, 851
171, 995
691, 55.9
689, 424
2,135
1,860
i 2, 200
4 540
4 084
4.242
4,773
370
353
321
301
376
3,969
3,546
3, 755
4,269
4,233
4,818
18
183
21, 715
9,133
27, 560
9,531
28, 593
8,699
17
167
26, 787
9,188
28, 964
8,280
29, 262
10,300
17
149
59, 066
9,849
98, 549
8,856
58, 315
8,969
17
186
39, 278
7,640
30, 927
8,699
28, 033
8,482
18, 476
6,865
7,900
3,711
17, 369
6,723
7,356
3,290
17, 243
6,906
7,030
3,307
17, 883
7,435
6, 953
3, 49G
14, 557
6,411
5,962
2,184
18, 363
7,196
7,612
3,555
18, 866
7,105
8,361
3,399
18, 252
7,021
8,214
3,017
16,983
6,857
6,933
3,193
14, 556
5,689
5,764
3,104
16, 251
6,536
6,516
3,199
15, 698
6,011
6,377
3,309
18, 618
7,253
7, 653
3,710
2,865
32, 295
476, 514
2,485
30, 499
445, 991
2, 487
31, 863
483, 650
2,798
34, 998
510, 197
2,759
28, 959
434, 978
2,501
34, 568
526, 817
3,395
31, 964
503, 475
2,472
31, 593
501, 498
3,298
29, 699
573, 184
2,805
26, 651
425, 958
2,644
30, 438
408, 334
2,516
28, 655
399, 885
2,672
33, 695
467, 522
18, 079
1,252
17, 402
1,415
16, 944
1,339
17, 643
1,310
14, 275
1,273
17, 902
1,006
18, 487
1,200
17, 219
1,342
16, 790
1,432
14, 842
1,399
15, 924
1,109
14, 968
1,447
14, 968
3.938
3.938
3.938
3.938
3,938
3.938
3.938
3. 938
3.938
3.938
3.938
3.938
3.938
*> 3. 938
.400
.105
v. 490
P. 118
19
191
LEATHER AND PRODUCTS
HIDES AND SKINS
Imports total hides and skins
thous of Ib
Calf and kip skins
thous of pieces
Cattle hides
do
Goat and kid skins
do
Sheep and lamb skins
do
Prices, wholesale (Chicago):
Calfskins, packer, heavy, 9^/15 Ib
dol. perlb..
Hides, steer, heavy, native, over 53 Ib
do
LEATHER
Production:
Calf and kip
thous. of skins
Cattle hide
thous of hides
Goat and kid
thous of skins
Sheep and lamb
do
Exports:
Sole leather:
Bends backs, and sides
thous of Ib
Offal, including belting offal
do
Upper leather
thous of sq ft
Prices, wholesale:
Sole, bends, light, f. o. b. tannery
dol. perlb_.
Upper, chrome calf, B and C grades, f. o. b. tannery
_-_
dol. per sq. ft._
13, 492
26
13
10, 842
63
46
2, 265
2,213
106
13
2,414
1,097
8,713
142
23
1,876
909
147
109
2, 365
901
-7, 125
55
45
1,836
628
9,227
2,268
3,757
10, 491
161
38
2,163
1,538
9,560
2,158
11, 554
153
33
2,166
2,219
8,879
2,440
3,288
14, 633
101
10
91
51
2,513
986
9.217
117
58
1,701
1,576
.413
.108
.413
.108
.475
.128
.455
.118
.425
.123
.350
.133
.300
.123
.325
.113
.350
.123
.325
.098
.325
.108
.375
.108
762
2 117
712
2,038
2,477
634
1, 643
2,078
783
2,010
2,121
945
2,071
2,219
2,141
1,613
986
2,189
2,186
1,923
956
2,109
2,197
1,923
2,085
2,320
730
1,959
1,920
2,009
2,149
2,001
706
2,016
2,124
2,172
787
2,039
27
29
2 733
78
58
4, 950
3,779
93
15
48
116
2,951
2.728
90
39
23
37
3,183
3,224
34
19
32
20
3,418
9 372
54
50
1,839
2,732
751
2,036
33
6
3,723
1,951
1,873
50
18
3,360
1,959
66
48
3,592
61
39
3,574
947
2,171
2,117
.660
.660
.690
.680
.670
.650
.635
.628
.600
.595
.595
.600
.595
P. 600
.950
.962
.985
.988
.988
.955
.908
.863
.898
.877
.870
.893
.910
v. 930
f Revised.
*> Preliminary.
i December 1 estimate of 1954 crop.
cf Revisions for 1952 are shown in the April 1954 SURVEY.
9 Data represent price for New York and Northeastern New Jersey.
§ Re vised to represent data based on number of stamps used by manufacturers; revisions prior to May 1952 will be shown later.
2,078
SURVEY OF CURRENT BUSINESS
May 1955
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
S-31
1954
April
May
June
1955
DecemOctober NovemAugust September
ber
ber
July
January
February
March
April
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES
Shoes and slippers :f
Production, total
thous. of pairs
By types of uppers:
All leather
do
Part leather and nonleather
_ . . do .
Shoes, sandals, and play shoes, except athletic,
total
thous. of pairs
By kinds:
Men's _
do
Youths' and boys'
do
Women's .
.._
.. do _.
Misses' and children'sdo
Infants' and babies' .
__do
Slippers for housewear
do
Athletic
do. _
Other footwear
do
Exports
do_ _
Prices, wholesale, f. o. b. factory:
Men's and boys' oxfords, dress, cattle hide upper,
Goodyear welt
1947-49 =100- _
Women's oxfords (nurses'), side upper, Goodyear
welt
1947-49 = 100
Women's and misses' pumps, suede split. ._ do
49, 812
44, 675
38 850
43 533
41 051
48 523
42 795
42 883
41 630
44 165
39, 508
10, 304
34 440
10, 235
31 713
7 137
36 135
7,398
34 290
6,761
39 898
8,625
34 217
8, 578
34 016
8,867
32 797
8 833
36 426
7,739
45, 704
40, 401
35, 059
38, 772
36, 154
41 737
35 787
35, 349
34 763
8,579
1,732
25, 301
6 372
3,720
3 560
274
274
370
8,060
1,563
22, 300
5 307
3,171
3 682
284
308
484
7,140
1 527
18, 656
4 873
2,863
3 359
268
164
272
7,812
1 734
20, 722
5 370
3,134
4 346
280
135
306
6,783
1 658
20, 791
4 856
2,066
4 561
228
108
280
7,848
1 953
23 065
6 122
2 749
6 315
293
178
347
7, 508
1 685
18 351
5 513
2 730
6 447
288
273
367
8,089
1 621
17, 611
5 262
2,766
6 939
331
264
403
7,876
1 451
16 621
5 733
3,082
6 427
290
150
328
110.3
110.3
110.0
110.0
110.0
110.0
110. ()
110 0
117.5
112.3
117.5
112.3
117.5
112.3
117.5
112.3
117.5
112.3
117.5
112.3
117. 5
112.3
117. 5
112.3
48 424
48 971
57 398
39, 939
45, 477
45, 322
52, 611
8,934
1 585
19 606
6 345
3,469
3 757
337
132
283
9,041
1 914
24, 605
6 432
3,485
2 429
331
187
303
8,928
1 851
24, 876
6 444
3,223
3 098
337
214
372
10, 037
2 244
29, 405
7 090
3,835
4 215
370
202
110 0
110.0
110.0
110.0
110 0
110 0
116.8
112.3
116.8
112.3
116.8
112.3
116.8
112.3
116 8
112.3
116 8
112.3
63, 188 «• 53, 776
281, 350 251, 556
84, 584
273, 137
LUMBER AND MANUFACTURES
LUMBER— ALL TYPES
Exports, 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
70, 262
233, 015
65, 723
215, 384
71,962
188, 115
65, 298
257, 836
49, 128
340, 991
41, 270
354, 922
45, 836
282, 608
57, 413
294, 520
68, 963
298, 175
3,358
690
2,668
3,353
599
2,754
3,310
660
2,649
3,387
603
2,784
3,273
634
2, 639
3,169
565
2,604
3,116
617
2,499
3,293
524
2,768
2,671
648
2,023
2,797
540
2,257
2,887
592
2,295
2, 913
517
2,395
3,240
584
2,657
3,202
540
2,662
3,349
601
2,748
3,330
599
2,730
3,148
557
2,591
3,668
545
2,523
3,083
543
2,540
3,074
545
2,529
r 2, 790
'560
' 2, 229
' 2,r 823
584
>• 2, 239
f 2, 927
-•605
' 2, 322
' 2, 962
'667
' 2, 295
3,363
629
2,734
3,477
658
2,819
9,227
3,470
5,757
9,183
3,528
5,655
9,288
3,598
5,690
9,111
3,690
5,421
8,959
3,746
5,213
8,929
3,821
5,108
8,967
3,865
5,103
8,934
3,841
5,093
9,054
3,879
5,175
9, 063
3,877
5,186
'r 9, 236 r 9, 200
3, 972 ' 3, 910
' 5, 264 •• 5, 290
9, 087
3,882
5,205
1,033
865
963
1,013
961
40, 917
15, 285
25, 632
944
763
941
1,037
898
27, 592
5,866
21, 726
951
874
858
831
925
36,218
13, 991
22, 227
884
899
712
850
787
30, 393
10, 329
20, 064
369
895
342
365
791
9,506
3,188
6,318
455
867
440
470
757
13, 534
3,975
9,559
660
778
752
735
774
16,119
4,872
11, 247
802
718
882
850
782
24, 742
10, 078
14, 664
817
680
881
846
831
33, 151
13, 645
19, 506
962
742
877
889
819
32, 448
8,398
24, 050
SOFTWOODS
Douglas fir:®
Orders, new
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 t
_
do
Boards, planks, scantlings, etc.J
do
Prices, wholesale:
Dimension, No. 1 common, 2" x 4", R. L.
dol. per M bd. ft._
Flooring, B and better, F. G., 1" x 4", R. L.
dol. per Mbd. ft..
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. ft
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. ft—
Flooring, B and better, F. G., 1" x 4" x S/L
do], 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,
1" x 8"
_
dol. per M bd. ft
'754
r
829
'787
T
725
'941
30, 088
14, 055
16, 033
729
810
810
748
1,002
46,701
25, 572
21, 132
904
792
886
922
966
75. 054
74. 767
75. 180
76. 951
81. 592
81. 779
84. 482,
86. 849
83. 699
82. 999
83. 972
85. 534
125. 922
125. 767
125. 767
125. 440
126. 671
126. 671
127. 683
132. 953
131, 361
131. 361
131.361
132. 178
742
257
761
736
693
238
714
712
735
261
690
712
892
355
707
798
832
331
725
856
728
297
682
762
711
290
664
718
700
276
666
714
683
259
680
700
662
239
726
682
702
276
666
665
673
303
672
646
746
273
784
776
2, 146
5,512
923
4,589
2,148
6,414
1,601
4,813
2, 126
6,806
1,564
5,242
2,035
8,043
1,770
6,273
1,904
7,022
1,798
5,224
1,824
6,329
1,202
5,127
1,770
5,867
1,573
4,294
1,722
8,427
2,897
5,530
1,702
8, 605
3, 135
5,470
1.746
7,442
3,104
4,338
1,747
6,500
2,648
3,752
1,773
7,737
2,529
5,208
1,781
72. 271
71.030
70. 268
70. 633
74. 624
74. 327
75. 218
75. 923
78. 021
78. 199
78. 480
154. 154
152. 929
151.471
151.471
150. 981
151.557
151. 080
152. 170
152. 170
151. 839
151. 609
662
418
568
628
1,710
673
427
638
664
1,684
675
410
720
692
1,712
793
463
724
740
1,696
715
499
635
679
1,652
785
516
791
768
1,676
754
459
851
811
1,716
825
422
818
788
1,746
694
382
679
654
1, 771
668
439
604
611
1,764
597
485
491
551
1,703
598
477
535
590
1,648
71.01
70.64
70.16
69.36
70.65
71.51
71.62
71.38
72.07
71.96
72.26
74.18
78. 471
' 85. 071 v 85. 658
T
132. 178 p 132. 178
r
77. 527 p 77. 260
150. 996 r 150. 996 p 150. 400
696
493
633
680
1,601
r
75. 17
p 75. 17
HARDWOOD FLOORING
Maple, beech, and birch:
4,550
Orders, new
_
...
M bd. ft
4,350
5,650
3,900
4,050
5,200
5,150
4,300
3,700
3,950
4,850
4, 625
5,500
Orders, unfilled, end of month
_ do.
10, 000
10, 45C
10, 550
11, 150
12, 000
11, 150
11, 300
11, 380
11,650
11, 700
12, 550- 13, 425
14, 650
Production
do
4,600
3,950
3,950
4,750
3, 450
4,800
3,450
4,300
4,400
4,450
4,000
3,900
3,525
Shipments
...
___ _
do
3,900
3, 950
3, 750
4,650
4,400
4,850
4,650
3,900
3,500
3,950
4,000
4,000
3, 625
Stocks, mill, end of month
__ do. .
10, 500
10, 650
10, 350
9,500
8,500
8,875
8,200
10, 350
11, 050
9,200
11, 050
10, 900
10, 775
Oak:
Orders, new
do
99, 618
84, 824
78, 781
99, 934
95, 444 104, 462 100, 481 91, 449
81,496
89, 816 116, 741 107, 966 111,554
Orders, unfilled, end of month
do
76, 534
74, 554
66, 643
71, 364
79, 782
77, 983
73, 118
64, 301
65, 157
87, 013 98, 574 108, 122
73,083
Production
do
89, 459
90, 062
86, 999
92, 604
96, 999
99, 590 100, 488
90, 587
97, 746
97, 834
93, 476
90, 400 106, 193
Shipments
_
do
89. 853
90, 926
95, 213 93, 690
86, 688
99, 597 100, 172 101, 216
94, 885
94, 988 88, 960
91,321 107, 090
Stocks, mill, end of month
do
66, 173
62, 495
61, 090
57, 486
51, 268
47, 984
54, 383
49. 524
52, 966
47, 256
57. 375
50. 301
52. 045
r
Revised.
v Preliminary.
fRevised from 1950 forward to reflect adjustments to 1953 benchmark materials; 1950-52 annual totals and monthly data for January-September 1953 will be shown later.
® Revised monthly data (for production, shipments, and stocks; also orders, except for all types of lumber) are available upon request as follows: Total, all types, January 1950-February
1953; Douglas fir, January 1952-February 1953; Southern pine, January-December 1951; Western pine, January 1950-February 1953.
^Revisions for 1952 for exports of Douglas fir sawmill products will be shown later.
SURVEY OF CUREENT BUSINESS
S-32
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Surrey
May 1955
1954
April
May
July
June
1955
DecemAugust SeptemOctober November
ber
ber
January
February
March
April
LUMBER AND MANUFACTURES—Continued
PLYWOOD
Hardwood (except container and packaging) :*
Shipments (market), quarterly total
M sq. ft., surface measure ._
Inventories (for sale) end of quarter
do
Softwood (Douglas fir only), production*
M sq. ft., %" equivalent .-
167, 888
34, 681
376, 994
164, 857
30, 741
355, 285
342, 385
266, 451
178, 411
29, 266
141, 689
207, 060
386, 812
205, 325
30 451
392, 579
394, 659
392, 810
393, 101
389, 408
644, 580
343, 453
112,934
24, 923
444,081
412, 75(
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Iron and steel products (excl. advanced mfrs.) :
Exports totalO 9
short tons
Scrap
do
Imports, total 9
do
Scrap
do
315, 962
103, 464
86, 726
1,355
360, 814
65, 419
103, 650
3,121
271, 164
40, 561
123, 409
11,073
326, 515
101, 475
140,311
14, 650
344, 012
100, 114
139, 629
22, 033
372, 445
128, 576
149, 686
29, 448
409, 286
192, 980
147,345
31, 796
415, 616
166, 290
137, 804
20, 573
383, 198
153, 558
153 263
41, 256
591, 949
325, 765
128, 106
27, 695
712, 921
451, 550
104, 291
11, 124
5,103
3,181
1,921
5,194
6,811
4,893
2,974
1,919
5,133
6,571
5,090
2,951
2,140
5,350
6,315
5,218
2,965
2,253
5,224
6,315
4,557
2,633
1,924
4,378
6,494
4,770
2,701
2,069
4.664
6,599
4,729
2,717
2,011
4,814
6,510
5,362
2,939
2,423
5,356
6,509
5,866
3,066
2,800
5,520
6,852
6,185
3,290
2,896
5,685
7,349
6,004
3,384
2,619
6,066
7,284
3,117
1,597
9,920
4,466
3,059
11, 327
9,818
10, 573
10, 580
11,610
12, 399
9,790
10, 994
11, 987
8,796
10, 295
10, 823
8,269
8.913
9,333
7,848
6,776
8,070
6,554
3,272
4,101
5,726
2,907
1,896
6,737
0
5,932
30, 587
21, 553
6,035
844
1,525
5,287
26,142
20, 690
5,452
932
9,952
5,376
29, 563
24, 147
5,416
1,119
10, 608
5,396
34, 996
29, 187
5,809
1,495
11,016
5,155
40, 723
34, 537
6,186
1,540
9,555
4,895
45, 733
39, 199
6,534
1,691
7,951
4,620
49, 753
43, 083
6,670
1,881
7,25?
5,398
51, 868
44, 980
6,889
1,736
2,918
5,845
49, 975
43 065
6,911
1,711
74
97
93
83
65
55
71
47
842
1,047
553
826
995
528
775
943
516
804
987
556
829
821
450
830
935
542
811
921
534
789
943
552
74, 219
84, 342
47, 125
69, 094
74,515
39, 102
67,040
67, 856
37, 306
60,163
72, 820
41,121
63, 711
50, 893
25, 243
62, 494
59, 259
34, 528
66, 742
58,015
33, 929
71,090
64, 321
36, 956
4,959
4,892
4,503
4,505
4,624
4,691
4,724
4,813
4,626
4,469
4 567
4,495
4,462
4 486
4,984
5,061
5 257
5 336
5 587
5,576
5,785
5,827
r
5,443
5, 560
6 464
» 6, 201
2,858
2,809
2,729
2,620
2,762
2,843
2,743
2,640
2,533
2,536
2,447
' 2, 384
P 2, 286
56.03
56.00
56.50
56.03
56.00
56.50
56.03
56.00
56.50
56.03
56.00
56.50
56.03
56.00
56.50
56.03
56.00
56.50
56.03
56.00
56.50
56.03
56.00
56.50
56.03
56.00
56.50
56.03
56. 00
56.50
56.03
56.00
56.50
56.03
56.00
56.50
122,310
92, 271
15, 502
105, 788
78, 754
10, 768
94, 610
70, 596
9,337
100,022
72, 881
8,596
75, 848
53, 207
5,815
89, 590
66, 792
9,344
88 359
64, 722
8 668
87, 085
64, 004
8,580
87 659
64 812
7 742
93, 547
69, 843
11, 489
98 238
75, 044
13, 809
486.5
130.2
95. 5
34.7
459.6
115.8
86.4
29.3
430.6
107.1
80 9
26.2
409.2
113.1
86 2
26.9
395.4
96.8
74 4
22.3
410.1
102.2
77 2
25.0
409.0
109.4
81 7
27.7
382.0
113.0
86 0
27.0
461.2
119.7
89 3
30.4
472.7
128.5
96 4
32.0
487.8
135.9
103 0
33.0
491.9
135.4
102 1
r
33. 3
v 154. 4
7,290
69
6,971
68
7,473
71
7,364
72
6,628
63
6.667
63
6,807
67
7,702
73
8,089
79
8,287
79
8,838
83
8,497
88
••9 982
93
.0524
.0524
.0524
. 0524
.0539
.0541
.0541
.0542
.0542
.0542
.0542
.0542
.0542
.0542
72.00
.0437
72.00
.0437
72.00
.0437
72.00
.0437
74.00
.0452
74.00
.0452
74.00
.0452
74.00
.0452
74.00
.0452
74.00
.0452
74.00
.0452
74.00
. 0452
74.00
.0452
p 74. 00
P . 0452
25.50
26.50
29.50
29.50
28.50
29.50
30.50
32.50
34.50
32.50
36.50
36 5C
38.50
v 38. 50
Iron and Steel Scrap
Production and receipts, total* thous. of short tons..
Home scrap produced*
do
Purchased scrap received (net) *
_
.do
Consumption, total
do
Stocks, consumers', end of month _ _
__do
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 by furnaces
do
Stocks, end of month, total _
do
At furnaces
do
On Lake Erie docks
.do
Imports
do
Manganese ore, imports (manganese content)
thous. of long tons..
' 5, 874
3, 294
' 2, 580
*•r 5, 992
7, 156
f 6, 836
P 3, 709
v 3, 127
v 6, 778
» 7, 172
2,787
1,587
8,023
2,741
1,531
9,227
3,227
1,835
10, 109
18
6,341
44, 018
37, 427
6,591
1,178
0
6,620
37, 470
31, 360
6,110
1,081
0
6,447
31, 108
25, 222
5,886
931
0
7,510
23, 711
18, 616
5,095
93
59
65
67
760
997
547
745
1,074
564
783
1,092
563
852
1,106
578
85, 064
80, 686
70, 030 ' 87, 934
49, 005
41,609
99, 817
82, 028
48, 000
r
3,758
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:
C omposite
dol . per long ton
Basic (furnace)
do
Foundry, No. 2, f. o. b. Neville Island
do
v 1,315
101, 766
85, 979 f 103, 765
48, 721
T
56.03
56.00
f 56.50
56.03
v 56. 00
«• 5ft 50
Steel, Crude and Semimanufactures
Steel castings:
Shipments, total
short tons
For sale, total
__ do
Railway specialties
do
Steel forgings:
Orders, unfilled, for sale
thous. of short tons .
Shipments, for sale, total
.
do
Drop and upset
do
Press and open hammer
do
Steel ingots and steel for castings:
Production
do
Percent of capacity!__ _ _
- _.. .
Prices, wholesale:
Composite, finished steel
dol. perlb..
Steel billets, rerolling, f. o. b. mill
dol. per short ton..
Structural steel, f. o. b. mill
dol. per lb__
Steel scrap, heavy melting (Pittsburgh)
dol. per long ton..
106 430 P 125 733
80, 729
16 501
*>9 806
P 95
Steel, Manufactured Products
Barrels and drums, steel, heavy types:
Orders, unfilled, end of month
thousands..
3,066
3,238
2,586
3,101
3,208
3,160
2,939
2,256
2,217
2,726
2 145
2 198
2 303
Shipments.
do
1,892
1,908
2,038
1,950
2 125
1,785
1,868
1 782
1 902
1,848
1 797
1 742
1 747
62
Stocks, end of month. _ ..
_. _
..do ..
73
67
112
67
72
109
110
103
90
'104
89
77
r
Revised.
» Preliminary.
*New series. Data for hardwood plywood are compiled by the U. S. Department of Commerce, Bureau of the Census; they cover all known market producers of hardwood types, except
as indicated.
Douglas fir plywood production is compiled by the Douglas Fir Plywood Association.
Data presented are total industry figures, based on reports from plants controlling, on the average,
approximately 90 percent of industry capacity. The monthly totals are estimated from weekly reports by prorating split weeks on the basis of a 5-day workweek, with allowance for generally
observed holidays.
Data for production and receipts of iron and steel scrap are compiled by the U. S. Department of Interior, Bureau of Mines; data prior to 1953 are not available for publication.
OIn the 1952 edition of the export schedule, certain items (pipe fittings, welding rods, bolts, fabricated structural and other shapes) were transferred from the steel-mill products to the
metal manufactures category. The data through 1952 as shown in the 1953 edition of BUSINESS STATISTICS were adjusted to include exports of these commodities for comparability with the
earlier data. Exports beginning January 1953 as published in the March 1953 SURVEY and subsequent issues exclude these items which averaged 21,300 short tons per month in 1953.
9 Revisions for 1952 are shown in the April 1954 SURVEY.
JFor 1955, percent of capacity is calculated on annual capacity as of January 1, 1955, of 125,828,310 tons of steel; for 1954, data are based on capacity as of January 1,1954 (124,330,410 tons).
SUEVEY OF CURRENT BUSINESS
May 1955
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
S-33
1954
April
May
June
July
1955
August SeptemOctober
ber
Novem- j December
j ber
January
February
March
April
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
Closures (for glass containers), 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
Sheets
Strip- Cold roiled
Hot rolled
Structural shapes heavy
Tin plate and temeplate
\Vire and wire products
_do
do
do
do
do
do
do --
291, 392
164, 625
126, 767
252, 080
324, 039
188, 262
135, 777
278, 428
1,410
31,680
666
705
961
313
381, 176
224, 254
156, 922
339, 473
405, 152
249, 376
155, 776
368, 035
1,386
31,285
1,308
29, 767
1,449
32, 026
5,584
546
125
161
748
544
5,288
479
146
153
765
457
5,423
494
163
136
731
442
166
1,496
112
120
437
475
366
122
1,481
99
111
384
445
375
122, 339
474, 966
.0892
226.2
56.2
170.0
93.0
279, 642 r 259, 585
170, 068 ' 154. 507
109, 574 ' 105, 078
240,159 ' 224, 128
676
275
401
669
273,616
166, 975
106, 641
239, 881
283, 386
170. 125
113,261
247, 688
1,283
21, 841
1,328
20, 454
1,219
18, 264
1,218
18,. 196
4, 681
446
152
142
715
365
5,004
471
151
138
694
379
5,035
530
150
141
662
395
5,240
577
140
171
579
398
5,449
619
123
200
497
421
6,010
623
116
203
578
439
6,120
630
128
255
610
457
7,269
764
161
310
795
543
80
1,347
74
95
350
242
322
71
1, 331
95
109
326
342
351
63
1,357
103
108
346
580
359
59
1,633
110
130
344
273
360
49
1,857
126
144
331
261
366
40
2,054
128
160
347
270
352
97
2,229
133
158
336
419
393
103
2,166
131
159
338
433
415
122
2,450
153
178
407
514
502
120, 758
457, 748
.1000
126, 161
442, 371
.1000
125, 296
461, 227
.1000
120, 332
413, 265
.1081
125. 089
420, 340
.1100
121, 252
423, 395
.1100
127, 035
504, 342
.1100
232.3
48.1
184.2
102.0
1
.444
209.6
39.6
169.9
94.7
.444
'225.5
42.4
' 183. 1
104.6
.444
225.9
46.2
179.7
101.1
.444
234.3
53.9
180.4
100.8
.444
«• 236. 9
55.2
103.8
.444
259. 6
64.0
195.6
108.7
.456
293
530
763
256
457, 983
328, 454
129, 529
408, 315
1,209
28, 679
1,330
27, 366
5,887
532
211
157
786
421
4,490
444
168
116
674
376
82
1,539
94
125
353
607
394
108
1,657
107
14C
373
690
423
120,434
435, 681
.1037
125,138
451, 744
. 1092
227.2
53.0
174.2
96.9
216.3
47.7
168.7
94.9
317,
180,
136,
276,
522,
376,
145,
477,
361,
236,
125,
319,
1,245
' 1, 247
' 23, 663 r 23, 993
307, 939
171, 568
136, 371
265, 592
1,516
29, 480
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production primary
- short tons
Imports bauxite
- - long tonsPrice, wholesale, scrap castings (N. Y.)__dol. perlb-.Aluminum fabricated products, shipments, total
mil.oflb.Castings
- do
Mill products total©
do
Plate and sheet©
do
Brass sheets, wholesale price, mill
dol. per lb._
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 _~
r 181.6
128, 203 ' 116, 236 130, 272
384, 542 370, 963
.1129
.1370
.1575
" 270. 6
64.4
' 206. 2
' 114.0
.456
270.7
65 5
205.2
112.0
.476
71, 276
68, 397
71, 455
72, 959
66, 551
51, 668
62, 111
71,215
79, 208
81, 417
81,509
118,065
95, 795
126, 470
77, 830
112,937
104, 579
124, 516
78, 626
108, 723
111,005
82, 124
86, 119
112, 474
106, 252
69, 289
76, 320
107, 193
97, 436
69, 077
62, 047
104, 693
92, 475
58, 648
69, 882
88, 786
89, 198
48, 775
79, 231
92, 918
105,293
33, 290
97, 619
115,917
118, 707
37, 094
97, 733
133, 523
121. 907
47, 108
19,043
Exports refined and manufactured
__ . do
43, 384
Imports, total 9
...do
32, 960
Unrefined, including scrap 9
do. ...
10, 424
Refined9
do
. 2969
Price, wholesale, electrolytic (N. Y.) — dol. per lb-Lead:
Ore (lead con tent):
Mine production
short tons. . 29, 531
31,520
Receipts by smelters, domestic ore
do
Refined (primary refineries) :
50, 808
Production
-do
47, 837
Shipments (domestic)
do
100, 927
Stocks end of month
- do _
.1294
Price, wholesale, pig, desilverized (N. Y.) dol. per lb_.
Imports, total, except mfrs. (lead content) 9
52, 841
short tons-.
Tiii:
3, 804
Production pig§
long tons
7, 190
Consumption, pig, totsl§
-- -do
4. 720
31,223
45, 975
33, 396
12, 579
.2970
29, 685
51, 989
32, 133
19, 856
. 2970
26, 046
81, 833
35, 310
46, 523
.2970
24, 183
62, 228
30, 816
31,412
.2970
27, 121
54, 574
38, 161
16, 413
. 2970
16, 783
52, 388
32, 740
19, 648
.2970
25, 867
28. 603
20, 508
8, 095
.2970
18, 883
42, 382
32, 786
9,596
.2970
23, 562
45, 608
32, 965
12.643
. 2970
21, 533
36, 261
25, 108
11,153
.2978
26, 900
28, 508
25, 404
25, 762
26, 253
28, 266
25, 364
26, 975
27, 066
28, 835
25, 001
25, 244
25, 755
26, 884
26,911
29, 107
28, 230
29, 646
27, 347
28, 767
49, 139
42,317
40, 183
46, 987
109, 302 104, 626
. 1400
.1411
35, 716
37, 195
93, 080
. 1400
44, 089
43, 402
84, 429
. 1406
47, 762
30, 891
93, 358
. 1460
51, 276
36, 307
95, 496
.1497
46, 711
34,913
94, 387
. 1500
46, 506
37.017
92, 719
. 1500
44, 780
40, 451
84, 882
.1500
40, 173
46, 645
64, 938
. 1500
46, 730
47, 161
100,441
.1390
83, 291
235. 6
128.4
.476
. 1575-
v . 496
' 83, 581 93, 359
95, 810 ' 102, 342 r
123, 840 123, 162 rr
113, 949 108, 503
45, 982
44, 579
32, 376
46, 765
34, 661
12, 104
. 3270
108, 410
135, 701
131, 354
46, 091
103, 881
122, 129
119,863
42, 759
.3294
.3570
' 27, 004 30, 314
30, 056
27, 456
49, 126
69, 889
64,015
41,494
34, 031
31, 120
24, 224
15, 679
19, 508
14,392
19, 286
3, 207
7,230
4, 850
2, 235
7,210
5, 100
1,425
7, 400
5, 100
U94
6. 300
4, 500
2,232
7, 000
4, 700
2,625
6, 700
4,600
2,636
6, 700
4, 300
2,439
7,050
4, 300
2, 692
6,900
4, 330
2, 608
6,900
4, 500
2,728
7,280
4,730
50, 308
42, 381
59, 881
. 1500 ""."1500
38. 204
33, 371
19,581
12,925
11,380
Stocks pig, end of month, total§ __ _. . do
15, 127
17, 024
16, 872
16, 491
14, 751
14, 761
16, 302
2 ogr^
26, 650
22,152
6,842
0
0
2. 502
4,406
Government!
-- - - do
4, 255
1,352
651
791
11,554
12,925
11,219
12, 739
11,380
12,625
Industrial!
do
14,' 01 7
12,085
12, 769
14, 100
13, 970
14,950
Imports:
1,346
16
1,217
3, 100
414
2, 562
Ore (tin content). _
do
2,286
1,312
2. 169
1,813
2, 019
1,857
5,413
5,853
6, 859
3, 924
5,171
5, 487
Bars blocks, pigs, etc
do
4,601
6, 450
4,143
6, 385
5, 568
6, 151
.9188
. 9654
.9612
. 9353
.9421
Price, wholesale, Straits (N. Y.)
_._dol. perlb.
. 9338
.9354
.9110
.9304
.8727
. 91 93
.9077 ~ ~ ~9104
. 8857
Zinc:
42, 248
39, 915
40, 008
40, 391
38, 445
Mine production of recoverable zinc
short tons...
38, 141
34, 178
41,205 r 39, 389 45, 368
35, 511
38, 338
39, 035
Slab zinc:
71,186
70, 258
73, 654
70, 749
71, 540
Production
do
71, 810
80, 116
60, 137
86, 076
67, 047
85, 164
83, 804
89, 179
78, 977
70, 080
73, 846
70,618
64, 566
80, 244
76, 584
Shipments, total
do
77, 885
90, 415
97, 617
95, 523
99, 964
99, 896
93, 201
94, 507
66,
929
67,
152
61,859
72,
262
58, 397
Domestic
- do
58, 188
64, 548
77, 074
73, 9(37
74, 900
70, 863
80, 016
89, 441
79, 720
201,100 200, 740 209, 828 201, 124 198, 027 193, 253 175, 505 152, 137 134, 636 124T 277 117,152
Stocks, end of month.
_ _ _ . _ do..
74, 745
96, 165
90, 837
Price, wholesale, prime Western (St. Louis)
. 0964
. 1029
. 1025
. 1096
.1100
dol. perlb. _
. 1100
. 1141
.1150
.1150
. 1150
.1150
. 1150
. 1193
.1150
77, 774
39.112
57, 832
Imports, total (zinc content)
short tons...
50, 847 128, 748
26, 041
56, 952
22, 250
31,205
31, 273
39, 173
41, 309
1,264
2, 054
45
194
For smelting, refining, and export 9
do
1,239
2,214
157
2,481
128
3. 674
481
5,717
For domestic consumption:
61,332
21,439
40, 594 108, 738
37, 570
12, 853
45, 888
Ore fzinc content) 9
do-._
17, 608
10, 601
17,315
16, 564
19, 908
15,178
15,619
10, 208
Blocks . pigs, etc
do
18,771
20, 068
10, 907
10, 974
11,116
11, 520
14,228
18, 184
15, 684
r
l
Revised. *> Preliminary.
Specifications changed; no comparable data prior to June 1954.
2 Production by secondary plants only.
©Data beginning January 1955 are not strictly comparable with earlier data because of a change in coverage and method of reporting. Total monthly net shipments derived from the
new survey are from 1 to 2 million pounds less than would have been calculated under the former method.
9 Revisions for 1952 imports are shown in the April 1954 S U R V E Y .
§ Substituted series. Compiled by the U. S. Department of Interior, Bureau oj Mines; monthly data for 1951 and 1952 appear on p. 24 of the March 1954 SURVEY. Government stocks
represent those available for industrial use.
SURVEY OF CURRENT BUSINESS
S-34
May 1955
1955
1954
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
March
April
July
June
May
DecemOctober NovemAugust September
ber
ber
February
January
March
April
METALS AND MANUFACTURES—Continued
!
HEATING APPARATUS, EXCEPT ELECTRIC*
Radiators and convectors, cast iron:d*
Shipments
thous of sq ft of radiation
Stocks, end of month
do
Oil burners: J
Shipments _
number..
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 a n d wood
_ _ _ _ _ _
_ . _ _ ...do . _
Cris
do
Kerosene, gasoline, and fuel oil _ .
. _ do .
Warm-air furnaces (forced-air and gravity air-flow),
shipments, total
.
number- Gas
do
Oil
do
Solid fuel
do
Water heaters, gas, shipments* _
do -
1,732
6,906
1,738
7,453
1, 745 :
7, 696;
2, 208 !
7,903;
1, 937
7,438
3, 315
6, 765
3,217
6,478
3,354
5,915
2,700
5,400
1, 956
5,434
48, 983
77, 203
50, 350
84, 276
90, 662
72, 238
102, 888
57, 306
101,916
53, 174
67, 660
53, 978
46, 882
57, 125
186, 951
5,876
172, 762
8,313
145,829 196, 180
6, 294
4,351
134, 896 180, 210
6,582
9, 676
222, 839
7,708
204, 947
10, 184
216,956
7, 320
197, 984
11, 652
190, 328
6, 652
174, 549
9,127
160, 494
5, 586
146, 135
8,773
94, 395
7, 242
44, 691
42, 462
126, 819
G,804
77, 109
42, 906
68,798:
80, 845|
|
187, 944 !
4, 206 1
174, 806:
8, 9321
!
180,323:
10,935!;
111, 796
57, 592|
65,184
75, 345
203, 584
5,643
188, 519
9,422
52,7811
82, 9951
i
176,925
3,468,'
164, 228!
9,229j
!
125,981;
6,474!
76,4271
43, 080
203,901
23,443
114,195
66, 263
261,936
36, 879
156, 343
68, 714
351, 135
55, 091
205, 345
90, 699
417,185
66, 824
257 606
92, 755
284, 688
37, 823
195, 337
51, 528
110,245
9,094
74, 513
26, 638
69, 280
39, 870
26, 827
2.583
184, 043
72, 488
43, 566
26, 882
2,040
196, 767
82,462
95,359, 92 463
49,661! 57, 229
53,116
30, 210: 33, 923
35,474
2,591
4, 207 i
3.873
191.660! 202,574! 186.528
130, 486
75, 062
48, 655
6, 769
202, 990
148, 370
82, 023
57, 503
8,844
201, 405
137, 820
79, 022
50, 963
7,835
198, 001
107,615
64,312
38, 594
4,709
175, 550
81, 130 r 85, 476
79,537
50, 341 r 50 923! 47 740
98 917
28, 055 r 31 899
2, 734
2,654:
2,880
163, 458 200 001 214, 703
1,675
5,876
r
1,970
6,106!
57, 282
50, 686
2,419!
6, 416
58,041 ..
51, 163
167, 752
5, 564
153,065
9,123
200, 306|
5, 527
186,436
8,343
r
75, 004
4,824
r 41 g4g
r
28, 534
\
90.897
4, 422 ..
38 9^8
48, 247
_.
i
•:
)
!
MACHINERY AND APPARATUS
Blowers, fans, and unit heaters, quarterly:
r 49. 52**
Blowers and fans new orders
thous ofdol
Unit heater group, new orders.
do
i 13.661;
Foundry equipment (new), new orders, netf
82.7
mo. avg. shipments, 1947-49= 100. .
Furnaces, industrial, new orders, net:
2, 042
E Icctric processin g
thous. of doL .
1, 119
Fuel-fired (except for hot rolling steel)
do
Machine tools (metal-cutting types):
169.
6
New orders
mo. avg. shipments, 1945-47= 100. _
327. 2
Shipments
_
do
Pumps, steam, power, centrifugal and rotary, new
5,093
ord ers
thous. of doL _
Tractors (except contractors' off-highway and garden),
quarterly through 1954)*
165, 509
Shipments, total
thous, of dol
105, 302
Wheel-tvpe
__ _
_ _ _ ._
do _ _
60, 207
Tracklaying
do
_
i
r A9 31 1
__ _ _ _ i
14.586
;
T
37 685
14, 840
39 817
16, 368
i
1
125.3
80. 8
86. 4
68.8
75.6
68.3
147.5
61.4 !
113.9
81 0
1, 262
1,711
3.051J
2,423!
986!
3,642
457
973
1.053
1, 116
986
1,241
2, 403
1, 936
1,190
1, 534 I
1, 246
4. 100
1,148
3 543
142.8
302.7
139. 5 !
270.3
185.2
276.3
124.7
205.7
147.9
203. 7
180.9
213.4
148.9
191. 0
119.5 i
179.5
202. 9
203. 4
203. 0!
167.3!
5,319
5,007,
5,176
4.733
6, 706
5. 050
3,828
5,224
4, 787
5 220!
1j
'•
197.781
123,050
74, 731
157,655
87, 716
6Q Q39
66, 1781
41,431
9
4 747
1,834!
1 , 796
1 478 !
,
!
90 4!
163. 6
976
4 390
1,342
5 609
209 4
168.2:
P 214 3
P 202. 4
71,786'
45,807
25 979
7'.) 302;
54,025
25 977
r
|
144. 199
81,158
63 041
!
!
'
i
...
!
ELECTRICAL EQUIPMENT
Batteries (automotive replacement only), shipments
thousands
Household electrical appliances, sales billed:
Refrigerators, indexf
1947-49=100
Vacuum cleaners, standard type
thousands
Washers, domestic sales
do
Radio sets, production§ , . _
. . _ _ . . _
-do „_
Television sets (incl. combination), production§
thousands. .
Insulating materials and related products:
Insulating materials, sales billed, indexf
1947-49=100-Fibcr products:
Laminated fiber products, shipments©
thous, of dol. _
Vulcanized fiber:
Consumption of fiber paper
thous. of lb._
Shipments of vulcanized products. -thous. of doL_
Steel conduit (rigid), shipments*
thous. of feet-Motors and generators, quarterly:
New orders indext
1947 49 — 100
Polyphase induction motors, 1-200 hp:f
New orders
thous ofdol
Billings
do
Direct current motors and generators, 1-200 hp:J
Billings
do
1,194
1,150
1.39L
89.0
276.5
307.9
i 940.4
73.1
220.8
258. 7
745.2
* 599. 6
r
2,288
2, 481
2, 728
2,667
74.1,
81.6!
209. 4 j
195.8,
246.9; , 303. 5 j
722.1: '837.7J
93.0
193.6
242.9
43S. 1
70.6
185. 4
293. 2
785. 5
73.4
238.2
379.
7
1
932. 3
51.0
263. 2
339. 2
997.8
457.6
396.3
'544.1
307.0
633. 4
1
947. 8
921.5
858.5
i 833. 4
654.6|
702.5
135. 9
124.3
116.3
123.8,
92.3
111.4
123.2
116.7
123.9
138.3
132.01
137.0
9, 598
9,235
8,843
9,521
7,739
8, 857
10, 337
9,528
9, 596
10, 535
9,426
10 0761
3, 850
1, 535
20, 306
3, 266
1,388
20, 770
3,431
1,287!
21,784;
3, 128j
1,236
26,171;
2,566
1,037
28, 544
3, 373
1, 152
3
28, 076
3, 062
1,217
27, 616
3, 251
1,301
2 27 (522
2, 964
1, 350
2
29, 645
3, 794
1,540
225,911
4,037
1,571
2
24,049
3,918
1,565
2
25,898
1
i
i
152 5
i
36,817!
35,675'
i
7, 958:
10.183!- _
152 4
35, 208
36, 304
9. 533
9, 131
2
2
2,410
61.7
47.2
217.0
237.9
264. F
308. 4
1, 098. 7 i 1,261.6
129 7
156.7
33, 448
33, 501
34, 476
36, 184
6, 755
7,337
8, 130
9 942
1 647
1 320
!
96.0
94. ol .
-_
250. 1!
262. 7
358 2
357.4!
353.2 rl 370.6
1, 068. 1 1, 089. 7 1, 482. 3 P 1, 102. 7
r l
831. 2
P 580. 1
12 211
4,876 _ _ _ _ _ _
1,803
1
i
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
2,194
1, 939
2, 117
2, 253
2, 816
2, 204
1,958
1,877
2. 500
2,226
2, 333!
2 442^ r i <)io p \ 640
Production
thous. of short tons
Stocks in producers' storage yards, end of month
1,244
1.328
1,405
1, 504
1,293
1. 252
1. 293
1, 384
1,340
1, 223
thous. of short tons1.267
1,164
1,132
147
217
273
403
348
152
145
240
359
130
311
253
Exports
do
Prices:
24. 62
24.41
24. 96
24.66
24. 40
24. 40
25. 19
26. 05
25. 40
26. 36
Retail, composite 9
dol. per short ton
25.52
25 67
25 67
13. 588
13. 713
13. 836
13. 588
13. 350
15. 533
13. 381
13. 507
12. 850
13. 657
Wholesale, chestnut, f. o. b. car at mine
do
13.721
13.721
13.721
13. 721
1
2
'Revised.
» Preliminary
Represents 5 weeks' production.
Data beginning July
I Revisions for oil burners for J anuafy -July 1952 are shown in a footnote on p. S-33 of the Ja
c/1 Data beginning June 1953 are compiled by The Institute of Boiler and Radiator Manufactu
vectors.
*New scries. For source of data and brief description, see corresponding note on p. S-34 of S ptember 1954 SURVEY.
fRe vised to reflect use of new base period. Comparable data for 1934-53 for all series (exce pt for foundry equipment) appear on p. 28 of the February 1955 SURVEY.
§Radio production comprises home, portable battery, automobile, and clock models; television sets include combination models. Data for March, June, September and December 1954
and March 1955 cover 5 weeks; other months, 4 weeks.
©Data beginning January 1954 cover 19 companies.
JData for polyphase induction motors cover 33 companies through 3d quarter 1954 and 34 thereafter; for direct current motors and generators, data for 1st quarter 1954 cover 26 companies, thereafter, 27.
9 Revised to represent weighted average price of anthracite stove based on quotations in 6 cities as follows: Baltimore, Boston, Laconia (N. H.), Madison (Wis.), Middletown (Conn.),
and New York.
SURVEY OF CURRENT BUSINESS
May 1955
S-35
1954
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
April
May
June
1955
August
July
Septem- October Novem- December
ber
ber
January
February
March
April
PETROLEUM, COAL, AND PRODUCTS—Continued
COAL— Continued
Bituminous :d"
Production
thous of short tons
Industrial consumption and retail deliveries, total
thous. of short tons..
Industrial consumption, total
do
Beehive coke ovens
-- 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 deliveries
do
Consumption on vessels (bunker fuel)
thous. of short tons..
Stocks, industrial and retail dealers', end of month,
total
thous. of short tons - Industrial, total
Oven -coke plants
Cement mills
Electric-power utilities..
Railways (class I)
Steel and rolling mills
Other industrial
Retail dealers
do
do
do
- do_- do
- - - do _ _
- do
___ _ _
_-
do
Exports .
- _
_
_ d o _-.
Prices:
Retail, composite t -_ _ . _ dol. per short t o n _ _
Wholesale:
Mine run, f. o. b. car at mine
do
Prepared sizes, f. o. b. car at mine
. - - do.._
COKE
Production:
Beehive
thous of short tons
Oven (byproduct)
. ._ do ..
Petroleum coke 9
do
Stocks, end of month:
Oven-coke plants, total
do _,
At furnace plants . do_ _
At merchant plants
do
Petroleum coke - _ _ . _ . _ _ -do. Exports
do
Price, beehive. Conncllsvillo (furnace)
dol. per short ton..
31, 714
28, 478
29, 198
30, 690
27, 707
33, 484
34, 471
36, 652
37, 158
38, 151
36, 580
34, 134
27, 969
59
7,298
676
9,614
1,601
532
8,189
6,165
27, 958
24, 487
56
6, 658
625
8, 438
1,347
411
6,952
3,471
26, 477
23, 831
47
6,811
641
8,435
1,356
381
6,160
2,646
25, 535
23, 256
49
6,593
576
9,029
1,254
339
5, 416
2,279
24, 937
22, 836
45
6,581
675
9, 133
1,278
315
4,809
2,101
26, 453
23, 585
52
6,427
693
9, 568
1,384
306
5, 155
2,868
27, 113
23, 491
56
6,396
674
9,456
1,233
320
5,356
3,622
30, 180
25, 783
46
7,246
740
10, 076
1,375
360
5,940
4,397
31,538
26, 996
54
7, 438
719
10, 435
1,449
432
6, 469
4,542
35, 500
29, 713
66
7,995
775
11, 633
1,544
506
7,194
5,787
36, 332 ' 33, 766 35, 094
30, 099 " 27,913
30, 232
99
'105
169
8, 258
7, 631
8, 755
755
707
670
11, 750
10, 840
11, 234
1, 415 r 1,T 271
1,278
506
504
511
7, 316 r 6, 892
7, 578
6,233 r 5, 853
4, 862
r 35, 545
37, 150
5
29
52
62
55
47
47
54
47
20
2
3
11
72, 033
70, 595
69, 432
69, 646
67, 186
68, 566
69, 691
70, 352
71,041
69, 201
65, 869
63, 751
63, 664
71, 146
13, 887
1, 068
37, 468
2, 167
830
15, 726
69, 611
12, 856
1,071
37, 504
2 049
798
15, 333
68, 606
12, 596
1,090
38, 299
1, 839
740
14, 042
68, 803
12, 659
1,144
39, 125
1,811
708
13, 356
66, 286
11, 125
1,123
38, 848
1,662
639
12, 889
67, 656
11,571
1,184
39, 708
1, 657
621
12,915
68, 765
11,869
1, 233
40, 462
1, 597
612
12, 992
69, 458
12, 193
1,287
40, 889
1,496
614
12, 979
70, 118
12, 484
1,373
41,072
1,540
592
13, 057
68, 391
12,335
1,311
39,711
1, 475
606
12, 953
65, 166
11, 476
1, 155
38, 095
1,397
556
12, 487
63, 130
11,066
1,082
36, 796
1,340
509
12, 337
63, 022
10, 776
963
37, 035
1,249
505
12, 494
642
887
984
826
843
900
910
926
894
923
810
703
621
1, 449
2,462
3,068
3, 136
2, 832
3,333
2,940
3,527
3,092
2, 481
1,804
2,539
15.12
14. 99
14,70
5.481
6.429
5. 403
6. 375
i 4. 538
2 6. 398
35
5,110
395
35
4, 658
386
29
4,772
379
31
4, 609
371
30
4,591
420
40
4,476
412
35
4,456
410
2,719
1,525
1,194
269
29
2,860
1, 579
1,281
299
24
3, 012
1,657
1,355
331
36
2, 973
1,609
1, 364
355
46
2, 843
1,619
1,224
384
25
2,856
1,624
1, 231
395
34
14.75
14.75
14.75
14, 75
14, 75
2, 563
201, 702
88
214, 620
2,486
198, 440
86
204, 336
2,467
200, 593
89
218, 178
2, 298
195, 000
88
208, 408
269, 620
73, 068
178, 057
18, 495
278, 055
75, 852
183, 740
18, 463
280, 050
75, 503
185, 570
18, 977
873
21, 888
2. 820
1, 418
17, 666
2,820
1, 258
20, 669
2,820
14.70
14.78
14.73
14.89
15.10
15.10
14. 98
15.04
15. 08
4. 488
6. 955
i 4. 484
2
6. 961
i 4. 482
2 6. 951
29
5.053
456
33
5,198
444
41
5, 570
471
61
5, 745
457
67
r 5, 327
436
105
6, 131
2,917
1,693
1, 224
402
14
2,851
1,638
1,213
424
34
2, 804
1, 597
1,207
395
33
2,794
1,624
1,170
421
50
2,748
1, 654
1,094
449
29
' 2, 614
2, 526
1, 579
946
14.75
14.75
14.25
13.75
13. 75
13. 75
13.75
2,867
194,037
90
214, 402
2, 534
191, 190
87
212, 708
2,298
184, 527
88
208, 155
2,370
190, 198
86
211,851
2,379
190, 367
86
209, 244
2,743
198, 213
88
224, 382
2,486
209, 600
90
228, 737
2, 340
191, 392
92
211, 365
282, 888
75, 187
188, 788
18, 913
282, 665
74, 574
189, 123
18, 968
277, 929
70, 659
188, 260
19,010
272, 502
67, 989
185, 568
18, 945
267, 346
68, 292
179, 582
19,472
264, 566
67,814
177, 659
19, 093
258, 385
67, 309
172, 081
18, 995
260, 156
67, 916
172, 635
19, 605
258 630
66, 574
172, 429
19, 627
1,372
21, 160
2. 820
1,073
21,014
2.820
1,349
20, 853
2. 820
509
20, 219
2.820
1, 521
19, 065
2.820
1,047
20, 260
2.820
797
23, 066
2. 820
381
20, 799
2.820
976
21, 103
' 4. 525
6. 440
2
* 4. 506
6. 586
2
i 4. 498
6. 711
2
i 4. 493
6. 875
2
1
2
i 4. 481
6. 951
2
i 4. 489
6. 949
2
r 1, 632
981
474
43
34, 700
15. 10
r
r
i 4. 480
2
6. 920
13.75
p 4. 402
P 6. 314
13.75
PETROLEUM AND PRODUCTS
Crude petroleum:
Wells completed i
_ _ - .__ ..- . _number__
Production}:
thous, of bbl._
Refinery operations
percent of capacity ._
Consumption (runs to stills") _ . _ _ ._ -.thous. of bbl__
Stocks, end of month:
Gasoline-bearing in U. S., total
. _do
At refineries
_ _ _
._ do _ _
At tank farms and in pipelines - _ _ - . _ _ d o - _ .
On leases
_._ —
___do_
Exports
Imports.- ._.
_. . _ ___
Price (Oklahoma-Kansas) at wells
do
. - _ _ do _
dol. per bbl_.
2.820
2.820 ^^2.820
Refined petroleum products:
Fuel oil:
Production:
Distillate fuel oilj
thous. of bbl__ 3 45, 204 3 41, 218 3 42, 531 3 41,96f 3 43, 892 3 45, 048 3 45, 415 3 47, 890 3 48, 666 351,718 3 53, 926 3 51, 719
Residual fuel oilj
. __
do
36, 222
34, 215
35, 582
33, 691
33, 749
32, 569
33, 131
33, 047
33, 593
34, 683
38, 276
36, 800
Domestic demand:
Distillate fuel oil?
d o _ _ _ _ 3 54, 051 3 38, 105 3 28, 895 3 27, 217 3 26, 864 3 29, 203 3 32, 593 3 34, 893 3 51, 279 3 75, 843 3 73, 801 3 68, 513
Residual fuel oilj
do
48, 794
42, 178
38, 994
35, 617
37, 753
36, 934
38, 904
42, 415
46, 045
55, 880
54, 055
51. 386
Consumption by type of consumer:
Electric-power plants
do
6, 456
4,783
4, 250
4, 291
4, 446
4,904
4, 851
5,316
5,819
8, 912
7, 432
7,668
6,813
Railways (class I) §_ ... ___ __
. do .
7, 819
7, 230
6, 921
7, 7CO
7,660
7,835
7, 730
7,818
8, 192
8,093
7, 066
8,467
5, 985
Vessels (bunker oil)
.do
6, 381
6,289
6, 378
6, 475
6,331
5,928
6,119
5,981
6,022
5, 916
5, 803
6, 379
Stocks, end of month:
3 60, 270 361,721 3 73, 58 i 3 86, 325 3 101, 657 3110,529 3 128, 061 = 139,128 3133,886 3 108, 144 3 86, 692 3 69, 283
Distillate fuel oil
do
44, 249
44, 362
Residual fuel oil
do
47, 009
50, 216
54, 365
56, 702
56, 332
56, 541
54, 891
49, 457
46, 042
52, 105
Exports:
Distillate fuel oil
do
1,516
1,911
1, 982
2,176
1, 693
1,434
1, 525
2, 192
2,715
1, 849
1, 786
919
Residual fuel oil
do
2,106
1,637
2, 006
1,793
1,831
1, 580
1,546
1, 239
1,771
1,720
2, 819
2,985
Prices, wholesale:
Distillate (New York Harbor, No. 2 fuel)
dol. per gal
.097
.095
.092
. 092
.090
.092
.092
.096
.102
.102
.096
.102
P . 102
.102
Residual (Okla., No. 6 fuel)
dol. per bbl__
1.200
1. 150
1.100
1. GOO
1. 000
1.150
1.150
1.250
1.350
1. 500
1.400
1. 500
P 1. 500
1. 500
ICorosene:
3
3
3
Production
thous. of bbl__ 3 10, 943 3 9, 665 3 9, 350 3 9, 177
9, 156
9, 357
9,018
9, 598 3 10,619 3 11, 796 3 12, 665 3 10, 471
3
3
Domestic demand t
do
12, 99C
6, 893 3 4, 861 '* 4, 537
4,920
36,196 3 6, 555 3 9, 261 3 12, 748 3 18,330 3 17, 071 3 15, 003
3
Stocks, end of month
do
17, 533 3 19, 656 3 23, 892 3 28, 184 3 31, 953 3 34, 949 3 37, 099 3 37, 140 3 34. 547 3 27, 826 3 23, 266 3 18, 291
Exports..
_
_ _
- _ do
564
584
229
158
398
SO
250
188
428
96
109
326
Price, wholesale, bulk lots (New York Harbor)
dol per gaL_
.107
.105
.102
.102
.100
.100
.100
.104
.104
.110
.110
.110
P. 110
.110
r
2
Revised.
P Preliminary.
i Price for screeningrs for indu strial use to indust rial consi liners; no com para ble with t at a throu gh April L9M.
'rice for arge dome stic sizes; not comparable with data through April 1954. 3 Beginning J anuary 1£ 54, jet fm3! (former y include d with gr soline, ke rosene, ai id distilla te fuel oil ) is exclucled.
Jetl
)ruary 19
bbl.): Production— from gasoline, 3,242; from kerosene, 7 54; from t listillate. 269: dome stic dema nd. 4.369: stnnks. 3 -WX
.
f Revised series. Data represent weighted averages based on quotations in 26 cities for all sizes of bituminous coal
1S aS follows (th US short
; 199; 198; ,86.
° ;el fuel purchased by class I railways (incl. switching and terminal companies), whether for locomotive, station, shop, or other use.
Comparable data prior to August 1953 will be shown later.
SUKVEY OF CURRENT BUSINESS
S-36
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
May 1955
1955
March
April
May
June
>eptem- October Novera-1 December | ber
ber
July
January
February
March
April
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products— Continued
Lubricants:
4,522
4, 475
4,563
4,470
4,204
4, 508
4,376
4,566
4,386
Production
thous. of bbl
3,374
3,308
3, 285
3,086
3,579
3,208
3,189
3,321
3,419
Domestic demandt
do
9,230
9,183
9, 475
9,764
9,599
9,035
10, 385
9,745
9,251
Stocks refinery, end of month
do
967
1.341
1,002
1,429
1.180
1,035
1,456
1,264
1,281
Exports
-.do. __
Price, wholesale, bright stock (midcontinent,
.180
.180
.180
.180
.190
.180
.180
.180
.180
f. o. b. Tulsa)
-.-dol.pergaL.
Motor fuel:
Gasoline (including aviation) :
1
1
1
Production total
thous. of bbl i 104, 612 i 102, 120 i 107, 952 104, 481 107, 893 108, 250 i 105, 325 i 107,167 i 105, 896
Gasoline and naphtha from crude oil
i 91, 851 i 90, 074 i 95, 241 i 91,956 i 95, 092 i 94, 798 l 92, 126 i 93, 595 i 92, 249
thous. of bbl
10,334
10, 487
10,612
10,604
9,441
9, 423
9,240
8, 861
9 828
Natural gasoline used at refineries
do
2,712
3, 521
3, 185
3,118
2,960
3,043
3,270
3. 102
2,973
Natural gasoline sold to jobbers
do
Domestic demand
Stocks, end of month:
Finished gasoline
At refineries
Unfinished gasoline
Natural gasoline and allied products
1
3,992
2,901
10, 087
1,094
.180
.180
98, 878 i 99, 419
10, 857
10. 099
2,532
2,776
i 85, 569
8,878
14, 998
i 79 989
8,965
15, 703
1,235
Exports (motor fuel gasoline jet fuel) §
do
Prices, gasoline:
Wholesale, refinery (Oklahoma, group 3)
.108
dol. per gaL.135
Wholesale, regular grade (N. Y) . .
. do . .
.216
Retail service stations, 50 cities
do
Aviation gasoline:
7,685
Production total
thous. of bbl
6,113
100-octane and above
do
9,899
Stocks total
do
5, 450
100-octane and above
...do ...
Asphalt :O
4,895
Production
do
10, 970
Storks refinery end of month
do
Wax:Q
478
Production
_ _ _ . do
644
Stocks, refinery, end of month .
do
1,798
2,277
2,712
2 341
.108
.135
.214
.108
.135
.218
.108
.135
.216
7,532
5,841
10, 141
5,436
7,869
6,680
10, 919
6,600
8,490
6,860
9,268
5, 242
5,392
11, 530
6,888
11, 383
434
612
3,824
806
843
2,175
116
55, 760
thous. of squares ..
do
do
do
do
short tons
104, 706 i 105, 607
p. 180
.105
.125
.214
v .105
*M25
.216
i 90, 424
9,451
2,467
i 173, 060 i 168, 301 i 168, 660 * 156, 526 i 149,045 i 1144,615 i 142, 437 i 141,046 1 142, 163 i 1146, 679 i 159, 486 i 170, 422
113,037 i 112,231 1 110, 223
.ISO
111,753 i 112, 808 1 102, 342
1
do
do
do
do
103, 866 i 104, 418
i 96, 241
8,946
13, 871
- -
4, 565
' 3, 180
10, 162
892
i 101, 549
i 99, 155
8,705
12, 295
-_
1
.180
1
f
do
i 104, 344
8,237
11, 447
Asphalt products, shipments:
Asphalt roofing, total
Roll roofing and cap sheet :
Smooth surfaced
Mineral surfaced
Shingles all types
Asphalt sidings
Saturated felts
1
4,544
2,961
9.702
1,295
102, 393 i 104, 258
i 96, 397
i 88, 464
77, 159 i 74, 786
8,479
8,553
15, 358
15,379
i 73, 571
8,615
15,868
i 74, 291
8,441
15, 168
80, 970
8,721
14, 038
2,084
2,202
2,384
2.056
2, 154
1, 765
1,641
.105
.125
.217
.105
,125
.213
.105
. 125
.213
.105
.125
.213
.105
.125
.213
.105
.125
.211
.105
.125
.212
8,182
6, 435
9, 572
5, 483
8, 599
6,748
9,962
5,799
7,709
6,127
9,796
5,841
7,966
6,209
9,876
6,051
7,717
6,090
9, 506
5,730
8,561
7,008
9,218
5, 569
8,019
6,064
10, 130
6,113
7,245
5,745
10, 302
6,380
7, 775
9.579
8, 850
8, 542
8,726
7,150
7,999
5, 912
7,413
5,702
5,371
6,165
4,200
7, 175
4, 246
8,623
4 230
9 888
474
663
409
609
433
597
408
571
453
567
450
572
485
589
404
562
433
579
427
578
4,923
5,374
6,484
5,251
6,029
7,062
6,088
5, 108
3,094
3,190
3 264
5,533
1, 005
1,011
2,907
113
58, 865
1,021
1,076
3,277
114
76, 110
1,146
1, 309
4.029
151
89, 561
978
1,110
3,162
115
69, 903
1, 139
1,324
3, 566
147
73, 797
1,349
1,553
4,160
153
91,088
1, 233
1,319
3,537
144
73, 069
975
1,138
2, 996
125
70. 79S
554
655
1,885
86
55, 553
603
686 |
1,902
85
62, 720
652
687
1 925
79
81 326
1 134
1 063
3 336
125
112 726
2,645
2, 41 7
5, 070
2,823
2,680
5, 386
2,690
' 2, 512
5, 563
.105
. 135
.214
i 92, 092 i 101 070
10, 076
11, 221
12, 973
12 004
PULP, PAPER, AND PRINTING
PULPWOOD AND WASTE PAPER
Pulp wood:
Receipts
.
thous. of cords (128 cu. ft.)
Consumption
~ - do
Stocks, end of month. do
Waste paper:
Receipts
short tons
Consumption
...
do
Stocks end of month
do
2,292
2,473
5,672
2, OCO
2,371
5, 288
2,035
2, 457
4, 867
2,308
2, 475
4,699
2. 304
2, 266
4.737
2,488
2,515
4,708
2,487
2,414
4,794
2,701
2,644
4. 854
2, 557
2, 579
4,840
719,354
716,052
447, 363
686, 600
668, 050
462, 590
662, 742
672, 590
453, 259
692,151
696, 500
447, 988
593. 086
576, 537
466, 326
670, 672
694, 972
440. 130
671,957
683, 164
419, 126
679, 893
702, 283
414, 332
682, 749
678, 695
422, 740
1,484
56, 703
792,919
199, 339
37, 841
200, 064
96, 615
1,574
60, 742
854, 198
204, 781
39, 831
202, 487
107, 026
1,562
64, 784
841, 999
200, 217
40, 123
202, 546
108, 715
1,416
55, 302
743, 809
182, 706
27, 634
193, 596
105, 428
1,605
71, 702
865, 602
207, 051
38, 769
203, 727
105, 102
1,505
61,825
802, 452
195. 329
31, 407
200,111
104, 055
1,686
74, 840
921, 247
208, 075
34, 620
210, 356
109, 301
161,745
43,819
33, 020
3,388
29, 965
178, CIO
52, 093
37,351
4, 373
30, 851
188, 667
53, 150
41, 138
4, 873
28, 707
174,276
51,060
33, 876
4,315
26, 289
177, 846
49, 317
33, 518
4,008
25, 218
176, 083
49,791
36, 929
2,995
22, 749
182, 082
57, 239
38, 384
2,777
21,251
2, 645
2,861
5,347
674, 021
643, 691
454, 263
655, 291 r 643, 881
686, 004 r 676, 121
428, 747 r 397, 734
1,635
75. 558
891, 867
199, 166
35, 369
207, 820
104, 053
1.494
71.775
779, 533
190, 937
33, 068
203. 628
102,368
1,658 r 1, 570
1, 762
77, 177 »• 72, 169
82, 068
893, 237 859, 752 961, 040
210, 378 194, 737 223, 270
36, 043
34, 580
38, 377
212, 089 'r205, 815 224, 825
103,911
94, 903 110, 592
195, 442
61, 184
42, 645
2. 760
20, 852
157,626
44, 067
32,020
2,975
18, 440
173, 972
48, 954
37, 132
3,206
18, 366
r
785, 246
784, 218
399, 214
WOOD PULP
Production :
Total, all grades
thous. of short tons . ' 1, 540
63, 338
Dissolving and special alpha
- _ short tons
Sulphate (paper grades)
do .. ' 830, 863
210,086
Sulphite (paper grades)
do
40, 182
Soda
_ _ _
- - - -- do
209, 157
Groundwood
do
80, 987
Defibrated, exploded, etc. ._. .-. . _do ..
Stocks, own pulp at pulp mills, end of month:
Total, all grades
_ - ..short tons.- 164, 003
44, 329
Sulphate (paper grades)
- do
33, 262
Sulphite (paper grades) _„.
._
do. _
3, 6C8
So 'la
do
29, 494
Groundwood
__
- do
Exports, all grades, total
166, 660
54, 587
35, 437
2, 673
17, 960
do. .
26, 896
24, 229
34, 328
30, 680
59, 623
44, 894
49, 790
44, 131
39, 392
53, 394
48, 968
62, 264
do
do
do
- _ . _ do
do
do.^-
178, 770
20,451
76,531
57, 522
3, 502
19, 301
152, 845
22, 309
66,210
45,513
2,555
15, 866
151,008
17,823
63, 66C
47,245
3,287
18,710
192, 698
21,413
89,151
60. 188
3, 585
17, 043
163, 559
20. 340
78. 867
43, 738
2,477
17, 670
172, 705
18, 178
80, 693
48, 551
3,154
21, 117
171,727
22, 724
72, 923
51, 432
3,876
19, 951
174, 891
16, 881
83, 849
51, 624
3,201
18, 548
206, 427
19, 078
88, 053
68, 646
3,018
26, 028
169, 498
16, 675
72, 462
52, 242
3, 321
24. 174
160, 267
10, 206
68, 046
54, 894
2,733
23, 748
149, 146
13, 761
67, 875
46, 000
3,388
17, 622
All paper and paperboard mills:
Paper and paperboard production, total
' 2, 307 2,186
2,272
thous. of short tons2,238
1.991
2,214
2,288
2,367
2,294
2, 161
r
1,074
Paper (in cl. building paper)
do
1, 135
1,094
1,C78
973
1,117
1,090
1,150
1, 110
1,067
Paperboard
.
do
986
1,030
1.045
' 1, 046
891
1,040
1,077
993
1,051
971
Building board
do
126
126
130
133
127
132
131
140
133
123
r
1
3
Revised.
* Preliminary.
See note " " on p. S-35.
t Revisions for 1952 appear on p. S-35 of the February and March 1954 issues of t le SURVE y.
§ Revised effective with the October 1954 issue of the SURVEY to cover items hub cated.
OAsphal t— 5.5 bbl = 1 short. ton; wax- -1 obJ. = 280 Ib.
2,345
1,140
1, 066
138
i
2, 249 i
1,086
' 1, 036
127
Imports, all grades, total
Dissolving and special alpha.
Sulphate
Sulphite (paper grades)
Soda
Groundwood..
,__
157, 259
53, 628
32, 767
2,696
19, 500
PAPER AND PAPER PRODUCTS
r
2, 571
1, 246
1,181
144
SURVEY OF CURRENT BUSINESS
1955
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
^37
1954
March
April
May
June
July
1955
DecemOctober NovemAugust September
ber
ber
January
February
March
April
PULP, PAPER, AND PRINTING—Continued
PAPER AND PAPER PRODUCTS— Continued
Paper, excl. building paper, newsprint, and paperboard (American Paper and Pulp Association) :t
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-.
.. ..
.-doStocks end of month
do
Price, wholesale, book paper, "A" grade, English
finish, white, f. o. b. mill., dol. per 100 lb-_
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 by 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
_
thous. of 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..
Folding paper boxes, value:
New orders
.- 1947-49= 100. .
Shipments
-- - -do
939, 598
592, 116
927, 526
916,598
412, 529
843, 494
547, 633
874, 583
878, 354
410, 021
841, 999
533, 638
866, 681
858, 755
417, 941
882, 399
540, 558
869, 849
872, 942
414, 271
814, 525
587,819
758, 760
756, 126
410, 562
881, 041
609, 967
888, 960
880, 206
421, 584
867, 980
612, 394
861,811
856, 917
428, 204
889, 447
603, 520
915, 483
907. 515
431, 529
874, 399
586, 500
889, 438
885, 329
437, 830
<• 899, 528 r 972, 198 ' 920, 270 1, 034, 000
' 606, 314 r 713, 450 ' 702, 766 748, 000
r 852, 704 ' 929, 531' 879, 496 988, 000
' 856, 746 »• 930, 057 r 875, 760 995, 000
r 436, 197 ' 445, 704' 422, 250 413, 000
114,482
57, 995
115,847
110, 927
95, 555
108, 483
57, 500
111,501
109, 879
97, 819
108, 140
56, 305
110, 232
107, 488
99, 287
110, 655
54, 190
113,292
112, 059
100, 256
97, 310
64, 215
91, 363
91, 221
98, 804
106, 820
63, 587
112, 279
106, 813
104, 741
108, 552
63, 230
110,331
107, 736
109, 274
116, 182
62, 695
119, 167
113, 389
110,361
114, 110
49, 454
116,306
111, 707
110,621
r 124, 404
' 62, 182
' 118, 147
' 116, 191
r 115, 606
r 117, 488 «• 125, 484
f 62, 044 r 73, 070
r
116,663
'121,499
r
124, 663 «• 119,163
' 111,117 ' 108, 603
140,000
78, 000
135, 000
137, 000
104, 000
342, 798
294, 740
322, 188
323, 037
165, 570
279, 943
258, 238
303, 684
311,678
157, 576
287, 338
249, 515
298, 138
300, 216
155, 498
320, 207
265, 175
299, 890
304, 524
149, 540
292, 019
292, 305
256, 760
255, 785
150, 515
297, 809
295, 870
308, 034
306, 948
151, 600
307, 601
302, 427
299, 596
297, 900
153, 295
308, 605
294, 558
311,139
310, 482
153, 952
292,411
290, 345
302, 431
303, 304
153, 078
' 324, 111r 345, 687 r 313, 528
r 300, 129 'r 375, 230 '359,160
r 290, 773 r 313, 879 r' 295, 390
' 297, 369 309, 920 292, 057
' 146, 482 «•] 50, 441 r 153, 774
348, 000
377, 000
331, 000
333, 000
152,000
13.80
13.80
13.80
13.80
13.80
13.80
13.80
13.80
13.80
296, 475
124, 040
302. 944
297, 929
88, 295
276, 225
117, 975
276. 575
277, 423
85, 870
273,217
112, 185
283, 596
278, 859
91, 116
278, 907
111, 330
285, 178
279, 933
97, 445
265, 092
120, 685
252, 002
249, 880
95, 198
302, 502
140, 375
293, 602
289, 863
99, 898
283, 590
138, 597
281, 316
280, 946
99, 935
285, 726
136.413
301, 887
302, 127
98, 741
290, 966
132, 982
297, 084
297, 306
96, 021
515, 482
481, 487
189, 067
500, 199
503, 292
185, 974
497, 221
497, 561
185, 634
490, 726
523, 966
152, 394
503, 979
481, 686
174, 687
503, 145
518, 844
158, 988
491, 153
482, 559
167, 582
525, 996
541.835
151,743
522, 109
542, 994
130, 858
500, 119
505, 987
124, 990
490, 822
466, 253
149, 559
479, 286
464, 060
164, 785
539, 129
512,033
191.881
400,311
98,115
100, 585
414, 877
89, 839
88, 968
422, 157
96, 670
98, 716
384, 444
96, 564
96, 148
338, 471
96, 324
96, 597
360, 825
99, 492
98, 503
388, 321
96, 592
98, 202
437, 191
110,328
107, 407
420, 422
106, 479
107, 920
407, 980
109, 217
111, 526
383, 520
115, 577
113,882
365, 221
109, 924
110, 597
438, 895
125, 426
125, 065
8,686
495, 871
85, 178
454, 297
9, 557
484f 226
81, 18.1
399, 824
7, 511
446, 739
72, 300
411,804
7,927
453, 407
80, 566
438, 833
7,654
481, 612
71, 086
393, 098
8,643
508, 703
66, 199
434, 107
7,033
490, 256
64, 769
396, 943
9,954
448, 907
77, 057
415,231
8, 513
434, 131
88, 372
455, 406
6,204
439, 446
76,917
445, 761
7,899
417, 757
131,058
392, 506
7,226
412, 197
87, 686
364, 320
7,617
383, 069
82,644
13.80
r
r
r
r
286, 546
128, 452
278, 058
281, 499
f 90, 575
14.00
14.10
r 306, 833 ' 304, 226
«• 152, 296 ' 149, 642
' 302, 253' 293, 089
••298,916 r r287, 841
r 105, 718
88, 954
14.10
v 14. 10
345, 000
172, 000
323, 000
324, 000
88, 000
125. 75
125. 75
125. 75
125. 75
125. 75
125. 75
125. 75
125. 75
125. 75
125. 75
125. 75
125. 75
125. 75
v 125. 75
1, 140. 4
424.9
1, 064. 4
90
997.4
369.1
1,014.6
88
1,086.6
364.2
1, 056. 5
90
1, 033. 1
359.8
1, 054. 6
89
964.3
390.3
916.8
74
1, 044. 0
330.7
1, 068. 5
92
1, 069. 0
428.8
1, 004. 1
88
1, 092. 4
390. 5
1, 105. 7
94
1, 078. 9
343.2
1, 102. 1
93
1, 067. 3
363.0
1,055. 1
82
1,020.3
450.7
1, 013. 5
92
1,085.0
523.4
1,043.1
95
1, 311. 7
515. 7
1, 214. 1
96
1,163.1
507.6
1,142.2
95
7,153
6,952
6,714
6,785
6,250
7,010
7,242
7,626
7,195
7,051
6,808
6,870
8,226
7,863
214.7
185.0
198.6
182.2
164.5
165.1
203.1
179.9
173.7
159.9
199.8
183.9
194.1
180.0
187.2
186.9
168.0
177.2
179.8
168.2
184.6
172.2
176.5
151.7
193. 7
178.8
1,102
855
247
1,101
894
207
1,391
1,101
290
781
644
137
923
714
209
802
661
141
888
754
134
1,408
1,198
210
941
811
130
860
701
159
971
771
200
950
756
194
1,102
855
247
55, 97C
53, 326
] 1 5, 970 105, 025
45 474
49, 432
55 096
102 943
43 557
56 911
101 050
49 941
50 997
97 189
50 ggo
58 189
102 233
PRINTING
Book publication total
New books
New editions
number of editionsdo
- do
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
long tons_Stocks end of month
_ do
Imports including latex and guayulej
do
Price, wholesale, smoked sheets (New York)
dol. per lb_.
Ohemical (synthetic):
Production
long tons.Consumption
- .-do
Stocks end of month
do
Exports
.
.
- do
Reclaimed rubber:
Production
- do_
Consumotion
do
Stocks end of month
.-do
53,709
112,829
47, 721
51, 451
106, 564
49, 855
51, 398
104, 377
55, 983
54, 253
104, 541
66, 698
37, 894
109, 564
40, 601
38, 069
124, 810
59, 124
52, 412
119,191
48, 618
r
T
.203
.214
.213
.231
.244
.231
.241
.265
.273
.288
55, 835
56, 060
184, 284
2,923
47, 581
53, 654
174, 983
2, 358
46, 554
52, 628
167, 583
2,759
45, 954
57, 195
157, 172
2,032
46, 964
41,552
162, 944
3,228
48, 807
42, 051
170, 159
3,018
51, 384
53, 878
161, 662
2,161
55, 644
58, 309
161 167
3,294
55, 018
57, 287
156 905
2,908
58, 456
64 130
150 175
2' 672
23, 305
22, 882
32, 148
21, 628
21, 883
31.359
21, 184
20, 536
31,105
22,207
22, 321
30, 845
17, 907
16, 301
31, 304
15,444
17, 660
27, 692
22, 332
19 926
29, 632
23 444
22 098
30, 395
22 915
22 321
29 451
25 762
24 546
30 746
25 237
25* 322
29 656
7,981
7,629
3,163
4,350
116
16, 077
80
8,065
8,243
3,131
4, 935
176
15, 906
178
7,965
8,319
3,020
5,115
184
15, 504
193
8,796
9,079
2,890
6,029
160
15, 218
167
6,360
8,885
2,782
5,949
155
12, 640
136
5,427
8,080
2,527
5,429
123
9,985
116
7,279
6,269
1,601
4, 537
130
11,184
131
7,869
6,266
1, 8?8
4,251
147
12, 799
120
7 626
6 842
3 124
3 560
158
13 676
147
8 444
'7 346
3,707
3 470
169
14 774
141
9 040
8 911
3*785
4 %7
' 159
14 949 T
134
6,399
6,013
10, 869
49
6,266
6,001
1 1, 234
89
5,909
6,002
11, 170
104
5,739
6,631
10, 379
68
4,132
6,257
8,429
67
3,773
5,748
6,588
73
4,490
4,034
7,179
65
3,953
3, 087
8,313
62
3 246
2 681
8 706
69
3 201
2 569
9 299
70
.325
.354
'.313
69 929
67 679
68 379 r 67 614
147 813 r 141 660
3*422
3' 148
78 506
77 098
143 911
r 25 332
T 24 333
T 30 125
29 547
28 685
30 069
.322
TIRES AND TUBES
Pneumatic casings: cf
Production
Shipments, total
__
Original equipment ..
Replacement equipment
Export
Stocks end of month
Exports
.
Inner tubes: cf
Production
-- -- Shipments
Stocks end of month
Exports
__
thousands
. do
do
do
--do _
do
.-. - do .-_
- -
..do_ .
do. do
- do_ -
3 089
4* 116
8 252
58
8
8
3
4
745
272
833
281
157
j5 368
155
10 083
9 907
4 780
4 926
' 201
15 609
2 850
2*862
r 8 244
81
3 234
3 327
8 217
r
Revised.
P Preliminary.
J Revisions for 1947-April 1953 for paper will be shown later; data prior to 1947 for unfilled orders and stocks of paper are on a different basis from revised figures, hence not comparable.
Revisions for January 1952-February 1953 for shipping containers and for various months in 1952 for rubber imports appear in the May 1954 SURVEY.
d* Data for production, shipments, and stocks have been revised beginning January 1953. Revisions prior to June 1953 are available upon request.
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
May 1955
1954
April
May
June
July
1955
October Novem- DecemAugust September
ber
ber
January
February
March
April
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PRODUCTS
Coated abrasive paper and cloth, shipments, .reams.
179, 124
163, 553
162, 256
177, 518
142, 262
151,217
173, 046
169, 267
20, 097
83
18, 751
28, 905
11, 925
21, 730
93
23, 589
27, 045
11, 681
23, 279
96
24,911
25, 412
10, 392
22, 802
97
28, 632
19,674
8 585
25. 482
102
27, 702
17, 524
7,203
25, 698
103
28 887
14, 408
6 029
25, 522
106
29 032
10, 909
4 720
25, 887
104
27, 134
9,667
3,806
473, 662
460, 448
514, 238
532, 442
522, 589
527, 964
554, 413
588 209
537, 984
573, 536
582, 952
586 532
576, 185
589 340
561, 190
571, 103
171, 087
167, 960
181,812
178, 210
148, 188
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
22, 290
23, 826
20, 231
98
'89
81
16 347
22 766
13, 314
10, 732 ' 16, 722 ' r 23, 436
5 274
7 788
3 634
17,612
78
13, 806
27,017
10 736
CLAY PRODUCTS
Brick, unglazed:
ProductionJ
thous. of standard brick. _
Shipments^
do*
Price, wholesale, common, composite, f. o. b.
plant
_
dol. per thous..
Clay sewer pipe, vitrified::}:
Production
short tons..
Shipments
do
Structural tile, unglazed :t
Production
.do
Shipments
- do
519, 144
464 080
557, 097
548 588
468, 522
412 028
445, 775
405 001
562, 507
568 375
28. 033
28. 151
28. 151
28. 151
28. 193
28. 289
28. 382
28. 382
28. 430
28. 430
28. 642
28. 559
145, 251
129, 280
138, 364
143, 050
136, 696
139, 563
151, 249
150, 497
135, 475
153, 426
148,594
162 363
156, 115
157, 590
148, 169
153, 246
148, 573
140 320
151, 619
121,607
132, 268
100 512
133, 933
108 975
163, 417
148 750
81, 025
77, 972
83, 21 1
80, 703
83, 272
81, 331
86, 670
83, 562
83, 890
78, 663
84 626
80, 906
81, 278
77, 095
81, 367
79, 160
79, 699
71,874
68, 621
64, 351
65 827
63 716
65 438
59 583
73 118
69, 763
9 305 r 8, 538
' 9 255 ' 8, 891
10 449
9 593
10 211
9,177
11 293
10 930
28. 559 v 28. 652
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
&o
Table, kitchen, and householdware, shipments
thous. of dozens. _
' 11,554 r 10, 824 »• 11,621 ' 11,275 ' 10, 850 r 11 429
r 12, 315 ' 9,339 ' 10,915 ' 11,072 ' 9. 970 r 11 148
r 1, 366
' 1, 144
1,365
1,037
r 3, 393
2,519
2,869
2,803
'601
960
776
r 818
r 1, 004
r 1, 167
1,377
923
r
r
r 3, 363
1, 071
184
r 2, 060
r 900
r 12, 270
r 13.395
6,067
5, 654
10, 272
6,075
6,152
9,852
3,802
3,148
r
925
' 9 929 r
' 10, 730 r
10, 908
10. 145
T
767
833
846
1 038
2,514
3,016
2,719
2, 836
506
525
343
325
310
392
677
677
900
586
561
596
1,165
1,012
950
1,304
847
1,408
r
2,
536
' 2,
669
'
2,
369
'
2,
452
r
2,
409
2,772
r
996
r 757
f 926
923
289
303
243
245
214
286
13 783 ' 13 745r 14 353 r 14 397 ' 13 336 r 13 721 r 13 4Q1 r 12 892
13 301
455
536
976
2, 564
903
178
853
854
1 257
2,894
997
201
14 058
14 247
1,098
' 2, 930
3,724
1,511
1,121
' 830
3, 210
3,033
2,670
T
912
1,268
r
1 233
1 133
1,051
1,033
856
' 2,
355 ' 2,
536 ' 2,172
r
r
r
908
948
825
196
214
217
193
r
a
5,651
5 932
9, 297
4,963
5 299
8 850
3,943
4 616
8,751
5 131
b 5 220
8'652
5,122
4, 768
9,036
5,780
6 270
8 535
5,489
4 888
9 181
4,568
4 237
9,450
5 492
4 897
5 254
4 721
5 725
5 619
2,987
2,827
2,606
2,966
3,503
4,175
3,180
2,853
2,752
3,089
3,672
12, 762
12, 335
12 969
14, 162
i 21 050
320
4, 980
1 848
296
5,712
1? 816
288
4 944
i 2 065
i 335
1
5 940
1
1,840
1 876
1
352
300
388
300
GYPSUM AND PRODUCTS
Crude gypsum, quarterly total:
Imports
thous. of short tons
Production
do
Calcined, production, quarterly total ___
.do
Gypsum products sold or used, quarterly total:
Uncalcined
short tons..
Calcined:
For building uses:
Base-coat plasters .
do
Keene's cement
_
_ do
All other building plasters
do
Lath
thous. of sq. ft_.
Tile
-.
_ do Wallboardcf
do
Industrial plasters _
short tons .
501
1,854
1,690
881
2,261
1,894
1,140
2,396
2,070
838
2,550
2,026
547, 398
687, 950
746, 827
814, 663
372,016
10, 909
193, 391
517,846
6,710
935, 205
64, 018
437 736
12, 251
224 711
634, 857
7,668
1, 044, 226
62, 087
493, 276
13, 984
266 419
688, 526
8,335
1 070 718
60, 138
400, 172
12, 114
254 640
641, 847
8,303
1, 136 922
66, 327
TEXTILE PRODUCTS
APPAREL
Hosiery, shipments. __ __. _ . thous. of dozen pairs12, 628
'14,315
Men's apparel, cuttings:* f
Tailored garments:
i 1,810 «• 1, 408
Suits
thous. of units
i 295 r 320
Overcoats and topcoats
_
_ do __
5, 136
Trousers (separate) , dress and sport
do . _ ' i 5, 880
Shirts (woven fabrics), dress and sport
thous. of doz._ ' i 2, 005 T 1. 836
Work clothing:
Dungarees and waistband overalls ...
do
i 355
384
r
T
i 485
392
Shirts
do
Women's, misses', juniors' outerwear, cuttings:*
Coats.
thous. of units. _
Dresses
do
Suits
do
Waists, blouses, and shirts
thous. of doz.__
10, 844
>• 1. 520
392
r
4, 752
' 1.604
340
r
388
12,215
i 1, 630
i 510
4, 680
944
280
^ 3,312
i 1.550
1
r l
r
10, 724
i 345
' i 420
1. 288
T
288
300
13, 790
r
r
15, 120
1 660 i 11 655
480
440
4, 032 * 1 4, 620
1. 556
392
«• 396
r 1
1, 795
T
i 435
i 430
14, 121
r
1,456
352
4, 464
' 1, 692
408
r
384
14, 588
T
1 592
324
4,272
1,728
360
364
1
1,715
1
1
340
265
2 225
i 435
i 415
771
3,187
1,542
1,650
2,217
2 751
2 452
2,269
2 463
2. 035
2 187
2 110
2 896
28, 199
24 465 21 091
20 429
26 720
16 577
17 593
17 157
18 511
18 675
20 892 r OQ 604
28 675
I g46
1,843
747
' 475
1 257
971
1, 203
874
738
l' 158
1 464
1*773 r i 756
1,036
' 1, 499 1,189
1,150
1,073
1,234
1,170
1,200
986
l! 140
1,248 ' 1, 289 L446
r
Revised.
P Preliminary.
* Data cover a 5-week period. Revisions for men's apparel for January and February 1954 (units as above): Suits—1,844; 1,732; trousers—4,800; 5,184; dress
and sport shirts—1,652; 1,808; work shirts—404; 428.
JRevisions for 1952 are shown in the August 1953 SURVEY.
c?Includes laminated board (reported as component board) also sheathing and formboard.
*New series. Compiled by the U. S. Department of Commerce, Bureau of the Census. Data are estimated industry totals derived as follows: Men's apparel—estimates beginning 1954
r
and for January-December 1952 and January 1953 for men's dungarees and waistband overalls will be shown later; data for 1952 (except men's dungarees, etc.) are shown at bottom of p. S-38
of the December 1953 SURVEY.
IData
for March, June, September, and December 1954 and bMarch 1955 cover 5-week periods and for other months, 4 weeks.
a
Includes cumulative revisions for 1954 through Alay.
Includes cumulative revisions for June-August 1954.
SUEVEY OF CUEEENT BUSINESS
May 1955
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey
S-39
1954
March
April
June
May
1955
Novem- DecemAugust SeptemOctober
ber
ber
ber
July
^rT | F6arr
Mareh
3
r
^ril
TEXTILE PRODUCTS—Continued
COTTON
Cotton (exclusive of linters) :
Production:
G innings §
thous. of running bales. _ 1 16, 317
Crop estimate, equivalent 500-lb. bales
i 16, 465
thous. of bales
5
Consumption^
bales
844, 092
Stocks in the United States, end of month,
13, 406
total!
thous. of bales
13, 340
Domestic cotton, total ._
_.
...
do _..
1,047
On farms and in transit
do
10, 524
Public storage and compresses _
.-do _ _ _
1,770
Consuming establishments
do
Foreign cotton, total
_.
do
65
Exports
_ _
- - - _ . bales
Imports 9
do
Prices (farm), American upland l5
cents per Ib
Prices, wholesale, middling,
/i&", average 10
markets
cents per Ib
Cotton linters:!
Consumption
thous. of bales..
Production
do
Stocks, end of month
do
389
1,694
5,691
12, 439
2 13, 039
13, 405
* 13, 601
r
659 300
645 472
12, 351
12. 276
872
9,720
1 684
75
429, 659
16 258
31.1
5
5
778 558
541,553
667, 443
11,386
11,305
802
8,962
1 540
81
10, 183
10, 106
559
8,189
1 358
77
9,728
9,653
255
8,224
1, 174
75
21, 996
21,917
12 631
8,304
422 048
24 163
31 6
336 120
11 679
32 2
434 934
8 177
32 3
227, 855
8 719
32 2
189 585
9 941
34 0
199 322
6 538
34 6
34.2
34 2
34 4
34.2
34.4
34 2
34 5
«99
5 189
1, 557
105
150
1 590
108
115
1 637
5113
96
64
112
82
1 589
1,546
2,512
44, 540
3,989
64, 206
6 24$
47, 243
4 732
2,454
49, 818
4,283
26.84
34.9
15.4
16.8
26.75
34 9
15 4
16.5
26.28
34 9
15 3
16.3
26.50
34 9
15.4
16.3
632
.921
630
921
627
917
.921
20, 872
19, 626
20, 715
19, 457
20, 627
19, 325
811,454
458
5
10, 799
• 125. 3
8,991
457
8 475
125 3
8,932
447
8 366
122 6
60.8
29.2
60 4
28 9
75.4
28.3
2,269
.780
.336
r
9,670
982
79
815 315
20 992
20, 921
8 990
10 862
1 069
71
706 603
18 863
18 804
3 484
13 803
1 517
64
59
350 853
6 635
34 7
389 625
6 898
33 2
892, 892
711, 286
720 815
17 580
17,516
2 057
13 824
1 635
63
16, 463
16, 401
1,190
13, 445
1,767
62
15 351
15, 242
731
12, 668
1 843
109
14, 295
1-4, 236
556
11,848
1,832
58
496 566
10 12°
32 7
334, 157
16 489
32.5
307, 456
16 805
31.7
31 9
34.2
33 7
5
137
6
140
1,793
703 697 s 801 748
948
884
803
733
348
19
19
5
12
1
*13 679
5
34 3
33 9
34 1
34.2
117
224
117
214
6 113
1 666
1 763
s 19$
1 785
125
187
1.831
115
166
1,827
2,302
50, 809
7,622
55 821
6 907
48, 511
10 887
2 495
52 641
9 953
44, 123
7,683
47, 427
7,035
26.51
35.9
16.3
16.4
26.00
35 9
16 5
16.4
26 60
35 9
16 5
16*5
26 80
35 9
16 3
16 6
26 50
35 1
15 9
16 6
27.29
34 9
16.5
16.6
27.37
34 9
16. 5
16.6
27.78
34 9
16. 3
16.6
.633
.917
633
919
642
.917
.931
637
931
642
933
659
931
664
947
665
947
20, 646
19, 332
20, 606
19, 286
20, 633
19, 306
20, 634
19, 276
20, 696
19, 295
20, 782
19 348
20, 626
19 136
20, 782
19, 282
20, 954
19, 429
20, 892
19, 365
6 10, 939
9,171
126.2
611,222
458
5
10 455
5
126. 0
9,735
493
9 042
136.3
9 464
& 10 216
5 122. 8
7,066
372
6,578
102.4
s 11 059
442
8 768 5 jo 239
5
102
5
134 6
9,934
497
9 184
138 0
10, 046
511
9 299
142 5
58 3
32 1
57 9
35 7
53 1
32.1
53 2
35.8
62 1
32 4
64.2
32.4
66 9
33 5
70 4
34 9
65 8
35 4
69.8
28.3
3,509
68 5
27.9
2,178
67.0
28.0
3,106
70.2
29.0
2,940
73.2
30.1
5,785
64 8
30.3
7,535
61.4
33.1
8,300
58 9
33 6
9,915
55 6
32 0
12 696
55 5
28 6
11, 906
.780
.336
.780
.336
.780
.336
.780
.336
.780
.336
.780
336
.780
.336
.780
336
.780
336
.780
336
«84
5
5
1 525
100
177
1 587
48, 282
4,355
47, 160
5,110
26.48
34.7
15.8
16.3
636
31 9
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 9
- do
Prices, wholesale:
Mill margins ..
- __
cents per Ib
Denim 28-inch
cents per vd
Print cloth, 39-inch, 68 x 72
do
Sheeting, in grav, 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 Ib
36/2 combed, knitting
do
Spindle activity (cotton system spindles) :1
Active spindles, last working day, total
thous__
Consuming 100 percent cotton_
.. _ do. _ _
Spindle hours operated, all fibers, total __mll. of hr._
Average per working dav
_
do
Consuming 100 percent cotton
do
Operations as percent of capacity
633
447
459
8,583
485
27 36
P 34 9
v 16 0
P 16 5
P
P
664
945
5
12, 400
496
s 11 485
5
138 5
RAYON AND ACETATE AND MFRS.
Filament yarn and staple:
Shipments, domestic, producers':
Filament yam
mil oflb
Staple (incl. tow)
do
Stocks, producers', end of month:
Filament yarn
do
Staple (incl. tow)__.
__ _ _ _ _ _ _ _
_do
Imports
- _- -_
thous. oflb_ .
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
402,378
SILK
Silk, raw:
Imports
thous. of lb_ _
Price, wholesale, white, Japanese, 20/22 denier, 87%
(AA), f. o. b. warehouse
dol. per lb._
366
1,051
671
843
654
890
567
814
777
692
1,400
812
5.23
5.07
5.03
4.53
4.55
4.68
4.83
4.75
4.78
4.60
4.61
4.53
24, 520
11, 738
21, 735
9,237
23, 040
8,319
«28,084
59,286
21, 301
5,903
23, 760
9,253
524,813
8
11 578
20, 048
9,502
19, 043
9 172
5 23, 100
5 11 190
21, 349
9 960
17, 828
10, 576
22, 135
10, 830
19, 868
10, 553
21, 603
12, 385
19,012
8,989
18 478
9,401
17 757
8,085
16, 998
8,316
13 897
7,884
14 453
7, 828
19 629
12, 029
17 956
9,313
1.675
1.122
1.688
1.160
1.731
1.184
1.767
1.187
1.756
1.166
1.762
1.211
1.771
1.220
1.712
1.196
1.600
1.075
1.560
1.135
1.550
1.146
1.556
1.191
1.535
1.138
1.495
1.095
1.725
1.725
1.725
1.725
1. 725
1.725
1. 725
1.725
1.675
1.625
1.525
1.475
1.475
1.475
383,248
407 576
' 67 9
33 0
83 9
r 39 i
77 5
33 1
50 4
25 8
11,356
44 6
22 2
39 3
22 1
.780
336
.830
336
P. 830
P 33g
4.46
P4.56
461 71?
WOOL
Consumption, mill (clean basis). 'ft
Apparel class
Carpet class.
_
thous. of lb._
. do
Imports, clean content 9
__
do
Apparel class (dutiable), clean content*
do
Prices, wholesale, raw, Boston:
Territory, 64s, 70s, 80s, clean basis
dol. per lb._
Bright fleece, 56s-58s, clean basis
do
Australian, 64s, 70s, good topmaking, clean basis, in
bond
dol. perlb-.
r
8
8
' 22, 725 5 27,219
r JO 195 5 12 676
Revised. » Preliminary. 1 Total ginnings of 1953 crop. 2 Qinnings to December 13. 3 Ginnings to January 16. < Total ginnings of 1954 crop. « Data cover a 5-week period
§ Total ginnings to end of month indicated.
IData for March, June, September, and December 1954 and March 1955 cover 5-week periods and for other months, 4 weeks; stocks and number of active spindles are for end of period
covered.
9 Revisions for 1952 appear in corresponding note in April 1954 SURVEY.
*New series. Imports of wool are compiled by the U. S. Department of Commerce, Bureau of the Census; dutiable wool covers essentially the apparel class; data prior to April 1952 will be
shown later.
JRevisions for 1952 are shown in the August 1953 SURVEY.
cf Re visions for broad-woven goods for first and second quarters of 1952 are shown in the October 1953 SURVEY.
SUEVEY OF CURRENT BUSINESS
S-40
May 1055
1955
1954
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
March
Supplement to the Survey
May
April
July
June
August
SeptemDecemOctober November
ber
ber
January
February
March
April
TEXTILE PRODUCTS—Continued
WOOL MANUFACTURES
Knitting yarn, worsted, 2/20s-50s/56s, Bradford system,
wholesale price
dol. per Ib
Woolen and worsted woven goods, except woven
felts:*
Production, quarterly, total
thous. of lin. yd
\pparel fabrics total
do
Government orders
do
Other than Government orders, total
do
Mien'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, 10^-12H oz./yd., 56"/60"O
do
2. 025
2.037
2.037
2.043
62, 738
54 835
958
53, 877
26, 461
27, 416
69, 440
63 559
570
62, 989
30 078
32,911
7,903
4,455
3,448
5,881
3 346
2,535
112.1
103.6
112.1
102.6
112.1
103. 6
112.9
103.6
2.043
2.037
2.013
2 037
72 493 _.
67 604
1.989
"
112.9
103.6
112 9
103.6
1.916
1.916
v 1. 880
5 963
2 993
2 970
4 889
2 949
1 940
112.9
103.6
1.928
75 472
69 509
551
68 958
34 091
34 867
-
r 458
67 146
28 043
39 103
1.928
111.6
103. 6
112.1
153.6
112.1
103.6
112. 1
103. 6
112.1
97.3
112.1
97.3
290
87
350
'83
357
115
478
112.1
97.3
TRANSPORTATION EQUIPMENT
AIRCRAFT
Civil aircraft, shipments
Exports 9
-
number. .
do
312
106
359
116
309
95
31 61,
67
293
105
'265
68
265
'83
174
61
288
108
number _
do
do
- do
do
do _ .
do
633, 003
297
289
531,529
510, 024
101,177
85,154
631, 769
379
348
534, 667
515, 192
96, 723
79, 439
588, 562
274
251
497, 062
478, 889
91,226
73, 712
598, 876
351
349
507, 055
489, 994
91,470
74, 250
530, 416
246
190
451, 663
437, 028
78, 507
62, 161
521, 450
309
306
445, 306
431, 371
75, 835
60, 263
369, 942
326
314
300, 998
292, 721
68, 618
50,845
287, 730
397
385
221, 195
214, 91 3
66, 138
48, 966
587, 785
305
251
498, 248
477. 927
89, 232
72, 862
do
do _ _
do
21 , 757
12,177
9,580
45, 725
24, 836
20, 889
37, 479
18,296
19,183
30, 254
14,697
15, 557
29, 154
13, 210
15,944
26, 794
11,519
15,275
26, 645
9,556
17, 089
22, 224
6,357
15, 867
29, 261
12,519
16, 742
34, 849
20, 393
14, 456
38,468
21, 550
16,918
36, 092
23, 256
12, 836
* 5, 248 ' 3, 678
' 4. 977 ' 3, 457
2,479
1,858
' 2, 498 r 1, 599
271
221
3,899
3, 740
2,052
1,688
159
4,271
4,105
2, 256
1,849
166
4,521
4,356
2,551
1,805
165
4,876
4,743
2,822
1,921
133
4,925
4,726
2,823
1,903
199
4,750
4,602
2,849
1,753
148
5,226
5,029
3, 091
1,938
197
MOTOR VEHICLES
Factory sales, total
Coaches total
Domestic ..
Passenger cars, total .
Domestic
Trucks, total
Domestic
.
_ _ _ _
Exports, total 9
Passenger cars 9
Trucks and buses 9
._
-
766, 169 ' 725, 379«• 744, 942 894, 597
176
422
325
190
148
332
267
185
669, 936 ' 635, 513 677, 705 791, 280 "2754, 000
643, 763 '611,040 ' 648, 616 765, 663
67, 061 ' 102, 992P "2 129~ 000
95,811
89, 676
55, 253
86, 070
79, 767
73,949
Truck trailers, production, total.
Complete trailersc?
Vans
All other <_T
Trailer chassis
do
do
do
do
do
5,000
4,741
1,879
2,862
259
4, 746
4,535
1,865
2,670
211
4,844
4,638
1,934
2,704
206
Registrations:
New passenger cars
New commercial cars.
do
do
480, 731
72, 583
508, 102
75, 332
520, 958
78, 209
596,719
85, 858
474,316
65,181
440, 312
64, 180
407, 844
66, 174
395, 943
71, 254
381, 081
64, 735
656,611
69, 838
440, 024
62, 231
4,826
3,796
3,793
1,030
4,195
3,138
2,981
1, 057
3,658
2, 513
2,028
1,145
2,683
1, 263
1,230
1,420
2, 051
955
705
1,096
2,450
990
837
1,460
2,958
1,600
1,208
1,358
2,348
1,338
807
1,010
1,770
1,085
617
685
2,232
1,428
1,369
804
2,008
1,599
1,599
409
2,572
2,032
1,882
540
3,133
2,368
2,068
765
636
374
59
36
572
330
64
44
541
314
41
26
500
285
44
30
502
316
65
34
450
291
52
25
587
448
42
22
563
434
38
25
514
405
54
34
757
671
57
34
761
693
40
18
725
672
36
21
953
918
45
27
1,773
1,771
1,768
1,764
1,757
1,753
1,750
1,745
1,739
1,736
1,733
1,730
1,727
98
5.6
16, 896
4,068
12, 828
104
5.8
13, 964
2,132
11, 832
112
6.3
12, 169
1,214
10, 955
116
6.6
11, 429
1,793
9,636
118
10, 334
1,731
8,603
122
6.9
11,016
3,911
7,105
126
7.2
10, 232
4,403
5,829
123
7.0
11, 785
4,952
6,833
120
6.9
13, 639
6,581
7,058
116
6.7
13, 624
6,078
7,546
121
7.0
16, 970
7,248
9,722
124
7.1
17, 096
6,981
10, 115
117
6.8
18,001
6, 240
11,761
1,222
11.2
1,169
11.1
1,180
11.4
1,117
11.1
1,081
11.0
1,102
11.4
1,233
13.1
1,237
13.5
1,226
13.9
1,227
14.5
1,290
15.6
1,298
16.1
1,215
15.7
365
300
170
124
133
99
115
158
267
493
472
455
428
26
57
46
36
42
34
39
32
33
29
28
42
473
366
445
445
413
357
357
348
359
394
342
1,449
387
359
1,652
444
6,402
6,140
3,739
2,401
262
476, 584 636, 534
' 56, 242 64, 732
RAILWAY EQUIPMENT
American Railway Car Institute:
Freight cars:
Shipments, total
Equipment manufacturers, total
Domestic
._ _.
Railroad shops, domestic
number..
do
do
do._ _
Passenger cars, equipment manufacturers:©
Orders unfilled, end of month, total*.
do
Domestic - _ . . _
_do
Shipments, total
. . do
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
_ _ _ _ _
d o
Locomotives (class I), end of month:
Steam, undergoing or awaiting classified repairs
number..
Percent of total on line
Diesel-electric and electric: Orders, unfilled
number of power units. .
Exports of locomotives, total!
number..
INDUSTRIAL TRUCKS AND TRACTORS
Shipments:
Trucks, electric (rider-type)
_
Trucks and tractors, gasoline-powered*
Trucks, hand (motorized)*
number. .
do
do
|
I
425
1,808
507
r
Revised.
» Preliminary.
1 Beginning January 1955, data include 2 types of aircraft formerly classified as "special category" and therefore excluded from the total; January exports of such types totaled 8 aircraft
2 Preliminary estimate of production based on Ward's Automotive Reports. Production for preceding month- 794,000 passenger cars; 110,000 trucks.
^Revisions for 1952 are shown in the August 1953 SURVEY.
0 Width of cloth relates to that currently used; change does not affect the comparability of the series.
9 Data exclude all military-type exports. Scattered monthly revisions for 1952 for motor vehicles will be shown later.
c? Revised beginning 1952 to include production of converter dollies; data as revised are comparable with figures through 1951 shown in the 1953 issue of BUSINESS STATISTICS. Revisions
for January-September 1952 are shown in the December 1953 SURVEY.
® Excludes railroad shops except when noted.
*New series; monthly data prior to 1953 (except for trucks and tractors) will be shown later.
§Not including railroad-owned private refrigerator cars.
^Revised exports for May 1952, 41 locomotives.
U. S. G O V E R N M E N T P R I N T I N G OFFICE: 19SS
•INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40Pages marked S
Abrasive paper and cloth (coated)
38
Acids
24
Advertising
8
Agricultural employment
11
Agricultural loans and foreign trade
16,17, 21, 22
Aircraft and parts
2,11,12,14,15,40
Airline operations
23
24
Alcohol, denatured and ethyl.
Alcoholic beverages
1
2, 6, 8, 27
Aluminum
33
Animal fats, greases, and oils
25
Anthracite
11,13,14,15,34
Apparel
2,3, 6, 8, 9,10,12,13,14,15, 38
Asphalt and asphalt products
36
Automobiles
2, 3, 8, 9, 11,12,14,15, 16, 22, 40
Bakery products
2,12,13,14, 15
Balance of payments
21
Banking
14,16
Barley
28
Barrels and drums
32
Battery shipments
34
Beef and veal
29
Beverages
2, 6,8, 12,13,14,15,27
Bituminous coal
11, 13,14,15,35
Blast furnaces, steel works, etc
11,12,14,15
Blowers and fans
34
Bonds, issues, prices, sales, yields
19, 20
Book publication
37
Brass
33
Brick
38
Brokers'loans and balances
16,19
Building and construction materials
8,9,10
Building costs
7,8
Business incorporations, new
5
Business sales and inventories
3
Butter
27
Cans (metal), closures, crowns
33
Carloadings
23
Cattle and calves
29
Cement and concrete products
6, 38
Cereals and bakery products
6,12, 13,14,15
Chain-store sales (11 stores and over only)
10
Cheese
27
Chemicals
2, 3, 4, 6, 12,13, 14, 15,18, 22, 24
Cigarettes and cigars
6, 30
Civilian employees, Federal
12
Clay products (see also Stone, clay, etc)
6,38
Coal
2,3,6,11, 13,14,15, 22, 23,34,35
Cocoa__
22,29
Coffee
22,29
Coke
23,35
Commercial and industrial failures
5
Communications
11,13,14, 15, 19, 20, 24
Confectionery, sales
29
Construction:
Contracts awarded
7
Costs
7,8
Dwelling units
7
Employment, earnings, hours, wage rates-11,
13,14,15
Highways and roads
7,8,15
New construction, dollar value
1,7
Consumer credit
16,17
Consumer durables output, index
3
Consumer expenditures
1, 9
Consumer price index
6
Copper
22,33
Copra and coconut oil
25
Corn
19,28
Cost-of-living index (see Consumer price
index)
6
Cotton, raw and manufactures
2, 5,6,22,39
Cottonseed, cake and meal, oil
25
Credit, short- and intermediate-term
16,17
Crops
2,5,25,28,30,39
Crude oil and natural gas
2, 3
Currency in circulation
18
Dairy products
2, 5, 6,12,13,14,15, 27
Debits, bank
16
Debt, United States Government
17
Department stores
9,10,16
Deposits, bank. _
16,18
Disputes, industrial
13
Distilled spirits
27
Dividend payments, rates, and yields
1,18, 20
Drug-store sales
9,10
Dwelling units, new
7
Earnings, weekly and hourly
14,15
Eating and drinking places
9,10
Eggs and poultry
2, 5, 29
Electric power
6, 26
Electrical machinery and equipment
2,
3,5,11,12,14,15, 18,22,34
Employment estimates and indexes
11,12
Employment Service activities
13
Engineering construction
7, 8
Expenditures, United States Government
17
Explosives
25
Exports (see also individual commodities)
21,22
Express operations
23
Failures, industrial and commercial
5
Farm income, marketings, and prices
1,2, 5, 6
Farm wages
15
Fats and oils, greases
6, 25,26
Federal Government
finance
17
Federal Reserve banks, condition of
16
Federal Reserve reporting member banks
16
Fertilizers
6,25
Fiber products
34
Fire losses-_
8
Fish oils and
fish
25,30
Flaxseed
26
Flooring
31
Flour, wheat
29
Pages marked S
Food products
2,3, 4, 6,
8, 9, 12, 13, 14, 15, 18, 22, 23, 27, 28, 29, 30
Foreclosures, real estate.
8
Foreign trade indexes, shipping weight, value
by regions, countries, economic classes, and
commodity groups
21, 22
Foundry equipment
34
Freight carloadings
23
Freight cars (equipment)
40
Freight-car surplus and shortage
23
Fruits and vegetables
5, 6, 22, 28
Fuel oil35
Fuels
6, 34, 35
Furnaces
34
Furniture
_ 2, 3, 6, 9, 10, 11, 12, 14, 15, 16
Furs
,
22
Gas, prices, customers, sales, revenues
6, 27
Gasoline. _
9,36
Glass products
2, 11, 12, 14, 15, 38
Generators and motors
34
Glycerin
24
Gold
18
Grains and products
5, 6, 19, 22, 23, 28, 29
Grocery stores
9, 10
Gross national product
1
Gross private domestic investment
1
Gypsum and products
6, 38
Hardware stores
9
Heating apparatus
11, 12, 14, 15, 34
Hides and skins
6, 22, 30
Highways and roads
7, 8, 15
Hogs
29
Home Loan banks, loans outstanding
8
Home mortgages
8
Hosiery
38
Hotels
- 11, 13, 14, 15, 24
Hours of work per week
12, 13
Housefurnishings
6, 8, 9, 10
Household appliances and radios
3, 6, 9, 34
21, 22
Imports (see also individual commodities)
1
Income, personal
17
Income-tax receipts
2,3
Industrial production indexes
16, 17
Installment credit
10
Installment sales, department stores
Instruments and related products. 2, 3, 11, 12, 14, 15
34
Insulating materials
_17,18
Insurance, life
16
Interest and money rates
21,22
International transactions of the U. S
Inventories, manufacturers' and trade
3, 4 , 9, 10
Iron and steel, crude and manufactures
2,
6, 18, 22, 32,33
35
Kerosene
Labor disputes, turnover.
Labor force
Lamb and mutton
Lard
-Lead
Leather and products
13
11
29
29
33
2,
3. 6, 12. 13, 14, 15, 30,31
Linseed oil
26
Livestock
2, 5, 6, 23,29
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit)
8,16, 17, 19
40
Locomotives
36
Lubricants
-—
Lumber and products
2,
3, 4, 6, 9, 10, 11, 12, 14, 15, 18, 31,32
Machine activity, cotton. _ .
39
34
Machine tools
Machinery
2, 3, 4, 5, 6, 11, 12, 14, 15, 18, 22,34
Magazine advertising
8
Mail-order houses, sales
10
Manufacturers' sales, inventories, orders
3,4,5
Manufacturing production indexes
2,3
Manufacturing production workers, employment, payrolls, hours, wages
11, 12, 13, 14, 15
26
Margarine
Meats and meat packing. _ 2, 5, 6, 12, 13, 14. 15, 29
6
Medical and personal care
Metals
2, 3, 4, 5, 6, 11, 12, 13, 14, 15, 18, 32,33
24
Methanol
.
Milk.
27
Minerals and mining. 2, 3, 11, 13, 14, 15, 19, 20, 23
18
Monetary statistics
18
Money supply
Mortgage loans
8, 16, 17
23
Motor carriers
.
36
Motor fuel
Motor vehicles
6, 9, 18,40
34
Motors, electrical
National income and product
1
National parks, visitors
24
National security
1,17
Newspaper advertising
8
Newsprint
22,37
New York Stock Exchange, selected data
19, 20
Nonferrous metals
2, 6, 11, 12, 14, 15, 18, 22, 33
Noninstallment credit
17
Oats
28
Oil burners
.
34
Oils and fats, greases
6, 25, 26
Orders, new and unfilled, manufacturers'
5
Ordnance
11, 12, 15
Paint and paint materials
6, 26
Panama Canal traffic
23
Paper and products and pulp
2,
3, 4, 6, 12, 13, 14, 15, 18, 36, 37
Passports issued
24
Payrolls, indexes
12
Personal consumption expenditures
1,9
Personal income
1
Pages marked S
Personal saving and disposable income
1
Petroleum and products
2,
3, 4, 6, 12, 13, 14, 15, 18, 22, 35, 36
Pig iron
32
Plant and equipment expenditures
2,19
Plastics and resin materials
26
Plywood.
32
Population
11
Pork
.
29
Postal savings
_.
16
Poultry and eggs
2, 5, 29
Prices (see also individual commodities):
Consumer price index
6
Received and paid by farmers
5
Retail price indexes
6
Wholesale price indexes
6
Printing and publishing
2, 3, 12, 13, 14,15, 37
Profits, corporation
1, 18
Public utilities
2, 6,
7, 11, 13, 14, 15, 17, 18, 19, 20, 26, 27
Pullman Company
24
Pulp and pulpwood ,
36
Pumps
34
Purchasing power of the dollar
6
Radiators and convectors
34
Radio and television
3, 6, 8, 34
Railroads
2,
11, 12, 14, 15, 17, 18, 19, 20, 23, 40
Railways (local) and bus lines
11, 13, 14,15, 23
Rayon and rayon manufactures
39
Real estate
8, 16, 17, 19
Receipts, United States Government
17
Recreation
6
Refrigerators, electrical
34
Rents (housing), index
6
Retail trade, all retail stores, chain stores (11
stores and over only), general merchandise,
department stores
3, 5, 9, 10, 11, 13, 14, 15
Rice
28
Roofing and siding, asphalt
36
Rosin and turpentine
25
Rubber (natural, synthetic, and reclaimed),
tires and tubes
6, 22,37
Rubber products industry, production index,
sales, inventories, prices, employment, payrolls, hours, earnings
2, 3, 4, 6, 12, 13,14, 15
Rye
28
Saving, personal
1
Savings deposits
16
Securities issued
—
19
Services
1, 5, 11, 13, 14, 15
Sewer pipe, clay
38
Sheep and lambs
29
Ship and boat building
11, 12, 14, 15
Shoes and other footwear
6, 9, 10, 12, 13, 14, 15
Shortening
26
Silk, prices, imports
6, 39
Silver
18
Soybeans and soybean oil
26
Spindle activity, cotton
39
Steel ingots and steel manufactures (see also
Iron and steel)
2, 32, 33
Steel scrap
32
Stocks, department stores (see also Inventories)
10
Stocks, dividends, prices, sales, yields, listings.
20
Stone and earth minerals
2,3
Stone, clay, and glass products
2,
3,4, 11, 12,14,15,18,38
Stoves
34
Sugar..
22, 30
Sulfur
25
Sulfuric acid
24
Superphosphate
25
Tea
30
Telephone, telegraph, cable, and radio-telegraph carriers
11, 13, 14, 15, 19, 20, 24
Television and radio
3, 6,8, 34
Textiles
2, 3,
4, 6, 12, 13, 14, 15, 18, 22, 38, 40
Tile
38
Tin
22,33
Tires and inner tubes
6, 9, 10, 12, 13, 14, 15, 37
Tobacco
2,3,4,5,6,8, 12, 13, 14, 15, 22,30
Tools, machine
34
Tractors
34
Trade, retail and wholesale
3,
5,9, 10, 11, 13, 14, 15, 17
Transit lines, local
23
Transportation and transportation equipment2,
3, 4, 5, 6, 9, 11, 13, 14, 15, 18, 23, 40
Travel
24
Truck trailers
40
Trucks
2,40
Turpentine and rosin
25
Unemployment and compensation
11,13
United States Government bonds
16, 17, 19, 20
United States Government
finance
17
Utilities
2, 5,
6, 7, 11, 13, 14, 15, 17, 18, 19, 20, 26, 27
Vacuum cleaners
34
Variety stores
9, 10
Vegetable oils
25, 26
Vegetables and fruits
5, 6, 22, 28
Vessels cleared in foreign trade
23
Veterans' benefits
13, 17
Wages and salaries
_ 1, 14, 15
Washers
34
Water heaters
34
Wax
36
Wheat and wheat
flour
19,28,29
Wholesale price indexes
6
Wholesale trade
3, 5, 10, 11, 13, 14, 15
Wood pulp
36
Wool and wool manufactures
6, 22,39, 40
Zinc
33
UNITED STATES
GOVERNMENT PRINTING OFFICE
DIVISION OF PUBLIC DOCUMENTS
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WASHINGTON Z5, D. C.
OFFICIAL. BUSINESS
First-Class Mail
A Baste Handbook for
B U S I N E S S STATISTICS
'The 1953 Statistical Supplementto the Survey of Current Business
THE NEW VOLUME contains comprehensive descriptions and explanations of all statistical data covered in its
tables and in the monthly Survey of Cur*
Ten Business, furnishing the reader with
the information essential to the proper
use of the data. Definitions of the statistical units employed, methods of collec*
ion of data, adequacy of samples, and
names and addresses of the original compilers are among the information included. In addition, the notes direct the
Deader to previous publications provid*
ing monthly data prior to 1949, and call
attention to any changes in the series
which might affect comparability.
1953 Edition
BUSINESS STATISTICS, 1953 edition, will hereafter be the basebook to
which the 2,600 series regularly carried
in the 40-page Monthly Business Static
tics section of the Survey of Current Bus*
iness will be keyed. For each of these
series it provides monthly data from
January 1949 through December 1952,
and annual averages of monthly data
from 1935 through 1952.
UNITED STATES DEPARTMENT OF COMMERCE
Business
Statistics
OFFICE OF BUSINESS ECONOMICS
$1.50 per copy, BUSINESS STATISTICS is now available from the nearest Department of
Commerce Held office or from the Superintendent of Documents, U. S» Government Printing Office,
Washington 25, D. C.
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