Full text of Survey of Current Business : May 1956

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MAY

U. S. DEPARTMENT OF COMMERCE
OFFICE OF BUSINESS ECONOMICS

1956

©F

CURRENT

BUSINESS

D E P A R T M E N T OF COMMERCE
FIELD SERVICE
Albuquerque, IS. Mex.
321 Post Office Bldg,

MAY 1956

Memphis 3, Tenn,
22 North Front St.

Atlanta 23, Ga.
50 Seventh St. NE,

Miami 32, Fla.
300 NE. First Ave,

Boston 9, Mass.
U. S. Post Office and
Courthouse Bldg.

No. 5

Minneapolis 2, Minn.
2d Ave. South and
3d St.

Buffalo 3, N. Y.
117 Ellicott St.

Orleans 12, La.
333 st. Charles Ave.

New

*

SPECIAL ARTICLES
Debt Changes in 1 9 5 5 , . , . . . . .

6

Growth of the Consumer Service Market
*

*

*

* .Inside back cover

Published by the C7. S. Department of Commerce, S I N C L A I R W E E K S ,
Secretary.
Office of Business Economics ^ M. J O S E P H ME EH AN,
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Dallas 2, Tex,
1114 Commerce St.

Reno, Nev.
1479 Wells Ave.
Richmond 19, Va.
HQ3 East Main St.
St. Louis 1, Mo.
1114 Market St.

Houston 2, Tex.
430 Lamar Ave.

Salt Lake City 1. Utah
222 SW. Temple St.
San Francisco 11, Calif.
555 Battery St,
Savannah, Ga.
125-29 Bull St.

Los Angeles 15, Calif.
1031 S. Broadway

Seattle 4, Wash.
909 First Ave,

15

MONTHLY BUSINESS STATISTICS....S-1 to S-40
Statistical Index

Portland 4, Oreg.
520 SW. Morrison St.

Kansas City 6, Mo.
911 Walnut St.

&

Pittsburgh 22, Pa.
107 Sixth St,

Jacksonville 1, Fla.
311 W, Monroe St.

*

2

Phoenix, Ariz.
137 N. Second Ave,

Detroit 26, Mich.
230 W. Fort St.

A Review of the First Quarter

Chicago 6, III.
226 W. Jackson Blvd.

Denver 2, Colo.
142 New Customhouse

National Income and Product—

Philadelphia 7, Pa.
101S
Chestnut St.

Cleveland 11, Ohio
1100 Chester Ave.

1

New York 17, N. Y.
110 E. 45th St.

Cincinnati 2, Ohio
412 I. S. Post Office
and Courthouse

THE BUSINESS SITUATION

Charleston 4, S. C.
Area 2.
Sergeant Jasper Bldg.
Cheyenne, Wyo.
307 Federal Office Bldg,

PAGE

For local telephone listing, consult section
devoted to U, S. Government

MAY 1956

uauon
By the Office of Business Economics

E

CONOMIC activity continued stable in April as mixed
movements among major components were about offsetting.
Nonagricultural employment in April edged upward from
March on a seasonally adjusted basis. Prices in wholesale
and retail markets remained firm. Total construction
activity, seasonally adjusted, continued to advance as industrial and commercial construction extended their gains of
previous months while residential construction showed little
change from the reduced first-quarter rate.
Retail sales declined somewhat more than is usual in
April, but the average for March and April showed little
change from the January-February seasonally adjusted rate.
April sales of automobiles did not show the usual spring
pickup and output has been further curtailed. Seasonally
adjusted sales by other major durable-goods stores moved
up in both March and April, while April sales in nondurablegoods stores were reduced from the all-time high reached in
March.
Employment in nonagricultural establishments, seasonally
adjusted, was at a record 50.4 million in April, \% million
above April of last year. Employment in April and March
together averaged about the same as in the first 2 months of
the year.
Manufacturing employment was up a little in April on a
seasonally adjusted basis as a continued moderate drop in
employment in the transportation equipment industry was
more than offset by a rise in the number of employees in the
machinery industries resulting largely from the ending of a
major work stoppage. Nonmanufacturing employment,
seasonally adjusted, increased moderately with most of the
gain in retail trade.

Consumer Income and Expenditures
Income and spending were up slightly in the
first quarter
BILLIONS OF DOLLARS
300

275

^DISPOSABLE
PERSONAL INCOME

\
250

225
PERSONAL CONSUMPTION
EXPENDITURES

200

Advances in nondurable goods and services
expenditures continued, while . . .
150
NONDURABLE GOODS

\

125

100

Manufacturing

75

I

50

,

,

,

I

,

,

I

I

I

.

,

I

.

.

I

the decline in durables was extended
50
DURABLE GOODS

25

.

1952

.

1953

.

I

.

.

1954

.

I

.

1955

,

1956

QUARTERLY TOTALS, SEASONALLY ADJUSTED,AT ANNUAL RATES

U. S. Department of Commerce, Office of Business Economics




56-18-1

activity

Sales by manufacturing industries in March, seasonally
adjusted, continued on the high plateau reached in mid-1955.
Some easing from February to March in the durable-goods
industries was about offset by higher sales of the nondurablegoods groups, particularly food and beverage processors and
petroleum refiners. Sales by most major hard-goods industries registered declines. Major exceptions were the industrial machinery and aircraft groups which reported
continued advances.
Inventory accumulation has continued to be concentrated
in manufacturing. During March the book value of manufacturers 7 stocks, seasonally adjusted, rose by $500 million,
about the average monthly change during the past half year.
The value of trade inventories dropped by $250 million,
however, principally as a result of a decline in the seasonally
adjusted inventories of automotive dealers and generalmerchandise stores. The value of manufacturing and trade
inventories at the end of March reached $84 billion, seasonally adjusted.

SURVEY OF CURRENT BUSINESS
Most of the inventory rise in manufacturing occurred in
the durable-goods groups where it largely centered in the
primary metals and machinery industries. The increase in
total manufacturers' stocks during the month was about
equally divided between purchased materials and finished
goods, with the rise in the latter occurring mostly in the
nondurable-goods industries. Goods-in-process inventories
leveled off, reflecting the recent stability of total production.

May 1956

Manufacturers 7 unfilled orders of $57.2 billion at the end
of March were essentially unchanged from February, and
$9 billion above March 1955. Unfilled orders rose in all
the durable categories except transportation equipment,
where the decline in backlogs of motor vehicle producers
outweighed the rise in those of aircraft builders. Backlogs
in the durable-goods industries are now equivalent to 4
months of sales, up one-fifth from last March.

National Income and Product—
A Review of the First Quarter
TOTAL economic activity continued at a high rate in the first
quarter of the year, with gross national product at an annual
rate of $398^ billion as compared with $397^ billion in the
fourth quarter of 1955. Thus, in the first quarter production
did not continue the marked rise which began in the second
half of 1954. The change in pace was mainly related to
declines in certain industries which offset continuing advances
elsewhere. In some of the stronger sectors available capacity
imposed a limitation on further growth of output.
An estimate of total income arising in production is not
yet available for the first quarter, because of lack of adequate
information on corporate profits. However, the movement
of the sum of other types of production incomes, which
increased less than in preceding quarters, confirmed the
leveling tendency shown by the national product total.
Payrolls, the largest component, changed little in manufacturing and continued their moderate increase in the nonmanufacturing industries.
Personal income—the sum of income receipts from all
sources—rose to $313>2 billion at seasonally adjusted annual
rates, two billion higher than in the preceding quarter. The
sustained flow of purchasing power continued to be reflected
in a high level of personal consumption expenditures arid
gave indirect support to the growing volume of new business
investment.

Final purchases continue to rise
Total final purchases—gross national product excluding
the change in inventories—rose in the first quarter. However, as in the preceding quarter, there were marked divergencies among the major components of final purchases.
Consumer expenditures for new cars and construction of new
homes continued their decline from the highs attained in the
third quarter of last year. Combined, these expenditures
dropped by $3 billion on an annual rate basis from the third
to the fourth quarter, and by $2% billion from the fourth to
the first.
The sum of all other final purchases, on the other hand,
has shown fairly steady growth over the past year, as illustrated in the accompanying chart. In total, these purchases
advanced by $5 billion at annual rates from the fourth to the
first quarter—close to the average increase in the last three
quarters of 1955. The expansion in these outlays exceeded
the declines in new car purchases and residential construction
by $2K billion at annual rates in both the fourth and first
quarters.
The bulk of the increase in final purchases has occurred in
the private economy, although it has been augmented by the
steady advance in the outlays of State and local governments.
Federal Government purchases have shown little change over
the past year and a half.



The overall effect of recent price changes on the gross
national product was small. Consumer prices remained remarkably stable with the index for the first quarter about the
same as for the years 1953, 1954, and 1955. Industrial
wholesale prices, however, rose by about one-half of an index
point per month, the same as in the fourth quarter. This
compares with an advance of one index point per month in
the third quarter of last year when the present rise began.
Industrial prices had shown comparatively little change over
the preceding two-year period. Farm prices, which have been
on a declining trend since 1951, averaged about the same as
in the fourth quarter of last year.

Further advance in consumer spending
Personal consumption expenditures advanced $!}£ billion
at seasonally adjusted annual rates in the first quarter.
Monthly trade data indicate that commodity purchases rose
in March after dipping in January and February.
For the quarter as a whole, the gain was the same as in
the final quarter of 1955 and about one-third the advance in
each of the three prior quarters of that year. The tapering
in the rate of increase of total consumer expenditures is
traceable mainly to the fluctuation in automobile purchases.
The increase in total expenditures excluding automobiles
amounted to $3 billion at annual rates in the first quarter.
This was only slightly less than the average quarterly increment in 1955, and is indicative of the generally well sustained
rate of growth in the main body of consumer purchases.
1956

1955

I

II

I

(Billions of dollars, seasonally adjusted at annual
rates)

Personal consumption expenditures
Autos and parts
Allothcr
Durables other than autos
and parts
Nondurables
Services

245.8
16.4

250.5
16.6

255.7
18.0

257.2
16.0

258.8
14.6

229.4

233.9

237.7

241.2

244.2

18.0
122.4
89.0

18.5
125.3
90.2

18.9
127.0
91.8

18.8
128.8
93.6

19.3
129.9
95.1

The annual rate of consumer expenditures for automobiles
and parts declined by $1% billion from the fourth quarter to
$14Y2 billion in the first—about one-fifth below the peak rate
in the third quarter of 1955. An appreciable increase in.
expenditures for furniture and household equipment, which
continued the uptrend noted in 1955, contributed to an
advance in other durables.
Purchases of nondurables were at an annual rate of $130
billion, $1 billion higher than in the preceding quarter.
These outlays have risen steadily since the first quarter of

May 1956

SURVEY OF CUEEENT BUSINESS

last year, advancing by 6 percent in the course of this period.
Food purchases accounted for a disproportionately large
share of the increase in the opening quarter of the year.
Clothing expenditures were somewhat lower than in the preceding quarter, but at an annual rate of $20^ billion they
were $1 billion higher than a year earlier.
Spending for consumer services continued to increase at
about the same average rate as in 1955. Eecent trends in
this broad category of expenditures are described in a separate article in this issue of the SURVEY.

Gross National Product
BILLIONS OF DOLLARS
425

TOTAL GROSS NATIONAL PRODUCT

400

Decline in home building
Total private fixed investment—running at an annual rate
of $58K billion—has shown little change since the third
quarter of last year. Its major components, however, have
displayed marked differences in movement. Nonfarm residential construction has declined over the course of this
period, nonresidential construction has been well maintained,
and business purchases of new capital equipment have
shown a sizable rise.
Total nonfarm residential construction put in place declined $1 billion at seasonally adjusted annual rates in each
of the past two quarters. The $15K billion rate in the opening
quarter of this year compared with annual totals of $16%
billion in 1955, and $13K billion in 1954. New housing starts,
adjusted for seasonal variation, also continued to decline in
the first quarter.
Private nonresidential construction continued at record
levels. The forward momentum in these outlays since the
first quarter of last year has come from industrial and commercial expansion. Industrial construction increased by onefifth over this period; total outlays for office buildings, stores
and other commercial building showed an even larger percentage rise. In contrast, farm construction has edged downward, and other segments of the nonresidential total—including the large public utilities component—have registered little
change in their rates of activity from a year ago.

Producers9 durables advance
Business expenditures for new producers' durable equipment continued the strong advance that has been in progress
since the opening quarter of last year. These outlays reached
an annual rate of almost $27 billion, $1% billion higher than
in the fourth quarter, and over $5 billion higher than in the
first quarter of 1955. Although increased prices of metals
and metal products have been a contributing factor, the
bulk of this advance has been in real volume.
All major industrial divisions participated in the rise in
fixed capital expenditures last year. The Commerce-SEC
Plant and Equipment Survey indicates that investment in
the manufacturing industries and in public utilities dominated the advance from the fourth quarter, although expenditures rose in the other industrial divisions as well.
Business inventory accumulation is estimated at a $4
billion seasonally adjusted annual rate in the first quarter
as compared with a $5K billion rate in the fourth quarter of
last year. The $4 billion increase (which measures the
change in the physical volume of inventories at current
prices) accounted for about three-fifths of the total change in
book values, the remainder reflecting further advances in
inventory costs. As during 1955, automobile dealers' stocks
were the most volatile element in the total. These stocks
were responsible for a sizable part of the fourth quarter
accumulation but were only a minor element in seasonally
adjusted inventory investment for the first quarter as a
whole, even though the stocks of cars have remained high.
The increase in all other inventories combined was somewhat larger than in the fourth quarter. Total business



375

350

325

300

L

25

-25

i

I

i

i

I

i

i

i

i

i

CHANGE IN BUSINESS INVENTORIES

I

75

i

i

i

i

i

CONSUMER PURCHASES OF AUTOS 8 PARTS
8 RESIDENTIAL CONSTRUCTION

50

25

0 I
375

i

'

i

i

1

i

i

ALL OTHER FINAL PURCHASES

350

325

300

U_L_L_L

1953

i

i

i

1954

I

1955

1956

QUARTERLY TOTALS, SEASONALLY ADJUSTED,
AT ANNUAL RATES
U. S. Department of Commerce, Office of Business Economics

56-18-2

Table 1.—National Income and Product, 1954, 1955, and First Quarter 1956
[Billions of dollars]
Unadjusted

1954

Seasonally adjusted at annual rates

1955

1955

1954

1956

I

II

III

IV

1955

1956

I

I

II

III

IV

I

II

III

IV

I

NATIONAL INCOME
BY DISTRIBUTIVE SHARES
299.7

322.6

76.4

80.3

81.7

84.1

297.7

298.9

298.7

303.2

311.4

320.7

325.7

332.2

207.9
196.2
162.4
9.5
24.4
11.7

221.3
208.5
173.2
9.1
26.2
12.8

52.6
49.4
40.7
2.3
6.4
3.2

54.6
51.4
42.5
2.3
6.6
3.2

56.1
52.9
44.4
2.3
6.2
3.2

57.9
54.8
45.6
2.3
7.0
3.1

56.8
53.3
44.1
2.2
7.0
3.5

206.7
195.2
161.7
9.7
23.9
11.5

207.2
195.6
162.0
9.5
24.1
11.6

207.8
196.1
162.1
9.4
24.5
11.7

209.8
198.1
163.8
9.3
25.0
11.8

213.1
200.8
166.5
9.1
25.3
12.2

219.5
207.0
171.7
9.3
25.9
12.5

224.3
211.3
175.6
9.1
26.6
13.0

228.0
214.7
178.8
9.0
26.9
13.2

230.1
216.6
180.3
8.9
27.4
13.5

Proprietors' and rental income 2
Business and professional
Farm
Rental income of persons

48.4
25.9
12.0
10.5

48.9
27.3
11.0
10.7

12.2
6.6
2.9
2.7

12.2
6.8
2.7
2.7

12.2
6.9
2.6
2.7

12.4
7.0
2.7
2.7

12.3
7.0
2.6
2.7

49.0
25.3
13.2
10.4

48.2
25.9
11.9
10.5

48.3
26.0
11.7
10.6

48.2
26.3
11.2
10.7

48.8
26.6
11.5
10.7

48.7
27.1
11.0
10.7

48.8
27.6
10.6
10.7

49.5
28.0
10.8
10.7

49.3
28.1
10.3
10.8

Corporate profits and inventory valuation adjustment- __
Corporate profits before tax
Corporate profits tax liability
Corporate profits after tax
Inventory valuation adjustment— _ -

33.8
34.0
17 1
17.0
-.2

41.8
43.8
22 0
21.8
-2.0

9.1
9.5
4 7
4 7
-.3

10.9
11.1
56
55
-.2

10.7
11.4
57
5.7
-.7

11.0
11.8
59
5.9
-.8

-.7

32.6
32.7
16.4
16.3
-.2

34.0
33.7
16.9
16.8
.2

33.1
33.5
16.8
16.7
-.5

35.5
36.0
18.1
17.9
-.5

39.6
40.9
20.5
20.4
-1.3

42.2
43.0
21.6
21.4
-.8

41.9
44.5
22.3
22.2
-2.6

9.5
31.8

10.5
33.3

2.5
8.2

2.6
8.4

2.7
8.0

2.8
8.7

2.9
8.8

9.4
31.4

9.5
31.5

9.5
31.9

9.7
32.2

9.9
32.3

10.3
33.1

10.7
33.7

National income
Compensation of employees
Wages and salaries _
Private
Military Government civilian
Supplements to wages and salaries

__.

Net interest
Addendum: Compensation of general government employees

43.6
46.8
23.5
23.3
-3.1 ~-2~7
11.2
34.0

11.6
34.4

GROSS NATIONAL PRODUCT
OR EXPENDITURE
Gross national product

360.5

Gross private domestic investment- _
_ _.
New construction
Residential nonfarm Other
Producers' durable equipment
Change in business inventories, total
Nonfarm only.
_ _ __
N e t foreign investment- ._

__ _

_____

_ _ _ _

91.4

95.2

97.4

103.1

97.1

358.3

357.6

358.8

367. 1

375.3

384.8

392.0

397.3

398.6

252.3
35.3
125.9
91.2

58.5
7.8
28.3
22.4

62.7
9.1
30.9
22.7

62.5
8.7
31.0
22.8

68.6
9.7
35.7
23.2

61.7
7.6
30.2
23.9

232.2
28.3
119.2
84.7

235.1
29.0
120.4
85.7

237.9
29.4
121.5
87.0

241.0
30.4
122.5
88.1

245.8
34.4
122.4
89.0

250.5
35. 1
125.3
90.2

255.7
36.9
127.0
91.8

257.2
34.8
128.8
93.6

258.8
33.9
129.9
95.1

47.2
27.8
13.5
14.3
22.3
-2.9
-3.2

59.3
32.4
16.6
15.8
23.8
3.2
3.0

14.6
6.7
3.3
3.4
5.2
2.7
2. 7

13.8
8.2
4.3
3.9
6.2
-.6
— 6

16.0
9.1
4.7
4.4
6.0
.9
.8

14.9
8.3
4.2
4.1
6.3
.3
.2

16.7
6.9
3.2
3.7
6.5
3.3
3 X

45.5
25.9
11.8
14.1
22.9
-3.2
-3.4

46.9
27.3
13.0
14.3
22.4
-2.7
—3 2

45.9
28.5
14.2
14.3
22.2
-4.9
—5 4

50.7
29.4
15.0
14.4
21.9
-.6
—1 0

54.1
31.2
16.1
15.1
21.5
1.5
15

60.1
32.6
16.9
15.7
23.2
4.3
4 2

60.5
33.2
17.2
16.0
24.9
2.4
2.0

63.2
32.3
16.2
16.2
25.5
5.3
5.1

62.4
31.6
15.3
16.3
26.8
4.0
4.0

—.3

_

387.2

236.5
29.3
120.9
86.4

__

Personal consumption expenditures _ _ _
Durable goods
Nondurable goods
Services

— .4

-.1

— .2

-.3

.2 1

-.1

-1.1

—.3

.7

.9

—.4

— 7

o

3

o

18.8
11.4
10.2
9.7
.5
13
.1
7.4

81.7
54.7
46.8
45.0
1.8
8.3
.4
27.0

75.9
48.6
43.6
42.0
1.5
5 4
.4
27.3

75.8
47.7
42. 1
40.3
1.8
61
.4
28.1

74.5
45.7
40.5
38.5
2.0
55
.3
28.7

75.8
46.4
41.2
38.7
2.5
5.5
.3
29.4

74.9
45.2
40.4
38.5
1.9
5.2
.3
29.7

75.8
45.5
40.6
39.0
1.7
5.2
.3
30.2

77.2
46.3
41.0
39.2
1.9
5.5
.3
31.0

77.4
45.7
40.8
38.9
1.9
5.2
.3
31.7

77.0
49.2
43.2
41.4
1.8
6.3
.4
27.8

75.9
45.8
40.8
38.8
2.0
5 4
.3
30.1

18.4
11.6
10.3
9.7
.6
14
.1
6.8

18.9
11.3
10.1
9.6
.5
13
.1
7.6

19.2
11.4
10.2
9.7
.4
1.3
.1
7.8

287.6

303.2

72.4

74.7

76.5

79.5

77.4

285.8

286.6

287.3

290.8

293.6

300.5

306.1

311.5

313.6

32.8
29. 1
3.7

33.9
30.0
3.9

9.7
8.6
1.2

9.3
8.2
1.0

8.6
7.7
.9

6.3
5.5
.8

10.2
8.9
1.2

32.7
29.1
3.6

32.7
29.1
3. 6

32.8
29.1
3.7

33.1
29.3
3.8

32.6
28.8
3.8

33.4
29.5
3.9

34.4
30.4
4.0

35.4
31.3
4.1

36.6
32.4
4.2

254.8

269.3

62.7

65.5

67.9

73.2

67:2

253.1

253.9

254.5

257.8

261.0

267.1

271.7

276.0

277.0

236.5

252.3

58.5

62.7

62.5

68.6

61.7

232.2

235.1

237.9

241.0

245.8

250.5

255.7

257.2

258.8

18.3

Government purchases of goods and services.
Federal
National security
National defense
Other national security.
Other
Less: Government sales _ _
State and local

19.4
11.6
10.3
9.8
.5
1.4
.1
7.9

17.0

4.1

2.8

5.4

4.6

5.5

21.0

18.8

16.6

16.8

15.3

16.6

16.0

18.8

18.2

360.5

387.2

91.4

95.2

97.4

103.1

97.1

358.3

357.6

358.8

367.1

375.3

384.8

392.0

397.3

398.6

30.0
30.3
1.2
-.8
-.1

32.3
31.9
1.2
-.4
.5

7.8
7.6
.3
-.6
.1

8.0
7.9
.3
-1.2
.1

8.2
8.2
.3
-.9
.2

8.4
8.2
.3
2.3
.1

8.5
8.2
.3

29.2
29.9
1.2
-.1
-.4

29.6
30.4
1.2
-2.3
.3

30.4
30.0
1.2
-1.5
.0

30.9
30.7
1.2
.7
-.3

31.2
31.1
1.2

32.7
32.2
1.2
.8
.6

33.5
32.6
1.2
-1.7
.5

34.1
33.2
1.2

'.3

31.9
31.7
1.2
-.2
.4

299.7

322.6

76.4

80.3

81.7

84.1

297.7

298.9

298.7

303.2

311.4

320.7

325.7

332.2

33.8
9.6
.0
15.0
5.2
10.0
1.2

41.8
11.0
.0
16.0
5.0
11.2
1.2

9.1
2.9
.0
4.1
1.1
2.6
.3

10.9
2.9
.1
4.1
1.5
2.5
.3

10.7
2.7
i
3.' 9
1.3
2.6
.3

11.0
2.4
.0
4.0
1.2
3.5
.3

3.4
.0
4.2
1.3
2.9
.3

32.6
9.7
.0
14.3
5.1
9.7
1.2

34.0
9.6
.0
15.1
5.2
9.8
1.2

33,1
9.6
.0
15.0
5.2
10.0
1.2

35.5
9.6
.0
15.7
5.2
10.6
1.2

39.6
10.5
.1
15.9
5.1
10.2
1.2

42.2
10.8
.4
16.2
5.0
10.7
1.2

41.9
11.2
-.6
15.7
5.0
11.0
1.2

43.6
11.4
.0
15.9
5.0
12.2
1.2

12.6
.0
16.7
5.1
11.7
1.2

287.6

303.2

72.4

74.7

76.5

79.5

77.4

285.8

286.6

287.3

290.8

293.6

300.5

306.1

311.5

313.6

DISPOSITION OF PERSONAL INCOME
Personal income

_.

_.

-_

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 disbursements _ _ _
Plus: Government transfer payments
Net interest paid by government
Dividends
Business transfer payments
Equals: Personal income

1. This table incorporates changes stemming from revisions in corporate profits and farm

income
 estimates for 1955.
http://fraser.stlouisfed.org/U. S. Department of Commerce, Office of Business Economics.
Source:
Federal Reserve Bank of St. Louis

.2

2. Includes noncorporate inventory valuation adjustment.

.7

May 1956

SURVEY OF CURRENT BUSINESS

inventories have advanced continuously since the first
quarter of 1955; the ratio to sales in manufacturing and trade
combined reached a low in mid-1955 and is now about the
same as in the opening quarter of last year.
The bulk of the first quarter inventory accumulation was
at the manufacturing level. A large part occurred in the
durable goods industries, especially in the general and
electrical machinery groups. The increases here reflected,
among other factors, the expanding volume of sales of
machinery and other capital equipment items, the continuing
strong demand for consumer durables other than autos,
and a mounting volume of unfilled orders. Concern aboutprospective price increases and possible supply interruptions
may have been an influence. Inventories advanced moderately in primary and fabricated metals and in transportation equipment; changes in other durable goods industries
were small.
Moderate increases also occurred in nondurable goods
industries. These were fairly general, with the largest in
the chemical industry. Total inventories in the nondurables industries have shown comparatively little change
over the past 2 years, dipping slightly in 1954 and recovering
in the following year.
Net accumulation in wholesale and retail channels was
small. As noted above, the change in trade inventory
investment from the fourth quarter was mainly attributable
to the shift in the rate of accumulation of automobile stocks
in dealers' hands. The strong buildup in motor vehicle
dealers' inventories in the fourth quarter of 1955 indicated by
the seasonally adjusted data continued in the opening month
of this year. With the cutback in automobile production,
however, the rate of accumulation diminished markedly in
February, and in the final month of the quarter dealers'
inventories were being reduced. Inventories of other retailers in both the hard and soft goods lines were substantially unchanged. In wholesale trade, hard goods were
also unchanged but nondurables were up moderately.

quarterly increases in 1954 and 1955. New construction
expenditures, primarily for public schools, highways, sewer
and water outlays, and further rises in payrolls were about
equally important in the most recent advance.

Personal income up
Personal income for the first quarter as a whole rose by $2
billion to a $313^ billion annual rate. The January total
dipped below that of December as a more normal rate of
dividend payments followed the unusually large volume of
year-end extras and special disbursements. Personal income
was up again in February and had exceeded the December
peak by March. In the latter month the amended minimum
wage law, estimated to affect more than 2 million workers
and to add directly over $}<S billion to annual wages, went
into effect.
Wage and salary disbursements accounted for the largest
part of the $2 billion increase for the quarter, with the remainder reflecting mainly interest and transfer payments.
These gains were partially offset by the shift in dividend
disbursements, and by the deduction of somewhat larger
personal contributions for social insurance.

Private Wages and Salaries
BILLIONS OF DOLLARS

I 10

NONMANUFACTURING
100

90

Exports and imports rise
80

The expansion in the gross flow of goods and services both
to and from the United States which had been characteristic
of the economic scene last year continued in the first quarter.
Inasmuch as the rise in exports and imports was similar, net
foreign investment remained in approximate balance. (The
latter measures the excess of exports over imports other than
those financed by United States grants and gifts abroad.)

70

60

MANUFACTURING

Government purchases stable
Federal Government purchases of goods and services continued to show only minor fluctuations for the sixth consecutive quarter. This stability was manifested not only in
the preponderant national security component, but also in
the sum of all other Federal purchases which make up
approximately one-eighth of the total.
New estimates relating to defense purchases have recently
been published by the Department of Defense. According
to this information, defense purchases are not expected to
vary much from present levels in the near future. Some
changes in the composition of expenditures for major procurement are envisaged, with moderate increases in aircraft,
guided missiles, and electronic equipment offsetting declines
in other end-items. Planned outlays for military personnel
costs show little change from the current rate, and general
operation and maintenance expenditures will continue to
rise as they have over the past year and a half.
State and local government purchases registered a further
advance of $% billion at an annual rate from the fourth
quarter to the first. This was about the same as the average



50

1953

1954

1955

1956

QUARTERLY TOTALS, SEASONALLY ADJUSTED, AT ANNUAL RATES
U. S. Depa

ent of Co

ce. Office of I

7

56 - 18-3

Private industry pa} rolls were at an annual rate of $180
billion—up $1)2 billion from the fourth quarter. The further
advance occurred in the nonmanufacturing industries as
total factory payrolls leveled out. (See chart.) The rise in
the nonmanufacturing total was somewhat larger than in
the previous quarter, and almost all of the major industry
divisions continued to show advances. Increased employment in these industries accounted for almost half of the
increase, and a further moderate rise in average earnings
for the remainder.
In manufacturing, salary payments continued to edge
forward and offset a moderate decline in wages of production
(Continued on p. 24}

by John A. Gorman and Harlow D. Osborne

Debt Changes in 1955
NET PUBLIC and private debt amounted to $658 billion at
the end of last year, an increase of $51 billion or 8V2 percent
over 1954. Gross debt (measured before consolidation of borrowers' accounts) rose $61 billion to a total of $768/2 billion.
In terms of dollar amounts these increases were the largest
for any peacetime year, though less than the rise in the
1943-44 period of heavy Federal war financing. The percentage rise last year was surpassed also in 1950 when a 9%
percent spurt had been registered under the impact of the
Korean conflict.
Last year's debt expansion centered chiefly in the private
component, which rose $45 billion on a net basis; State and
local governments accounted for the bulk of the remaining
increase. As in earlier postwar years, this pattern of rise
paralleled a rapid growth in the Nation's stock of real assets.
Gross additions to this stock by business included $24 billion
worth of durable equipment, $16 billion in nonresidential
construction, and $3 billion in inventories. The value of new
residential construction totaled $16K billion. The sum of
these expenditures was roundly double the amount written
off for depreciation during the year. In addition, consumers
spent $35 billion for autos and other durable goods.
The accompanying chart shows that private borrowinghas been the major element in debt formation throughout
the postwar decade.
The composition of net private and public debt at the
beginning of 1955 provides a basis for comparison in analyzing last year's increase. Individual and noncorporate debt
recorded the sharpest spurt: while making up less than 30
percent of the aggregate at the opening of the year, this
category accounted for half of all the net new borrowing last
year. Corporations, responsible for another 30 percent of
the opening total, recorded about 40 percent of last year's
aggregate increase. New borrowing by Federal, State, and
local governments combined accounted for only about oneeighth of the rise, although these units' net debt comprised
well over three-eighths of the total outstanding at the
beginning of last year.
Individual and noncorporate debt may be examined in a
more detailed perspective by reference to the chart on p. 8.
The bulk of its expansion in every postwar year has been in
nonfarm mortgages, which account for more than half the
total, and this category's share in last year's rise was about
proportional. Consumer debt has been relatively more subject to spurts and reactions, and has shown a sharper relative
rise over the postwar period as a whole; consistently with this
past record, it accounted for about one-fourth of last year's
increase while representing less than one-fifth of the total
outstanding at the beginning of the year.
Of the two smaller components of individual and noncorporate debt distinguished in this chart, farm debt showed a
rise last year which was quite limited by comparison with the
NOTE- MR. GORMAN AND MR. OSBORNE ARE MEMBERS OF THE
NATIONAL INCOME DIVISION OF THE OFFICE OF BUSINESS ECONOMICS.

6




importance of this category in the opening total, while commercial and financial debt accounted for about the same
fraction of the increase as of the aggregate outstanding.
The year-to-year growth of farm debt in the postwar period
has been much affected by the course of price support borrowings; a dip in these from the extraordinarily high levels
of 1953-54 is reflected in the relatively small size of last
year's advance. Other farm production credit and farm
mortgage debt continued to show an upward trend.

Net Public and Private Debt
BILLIONS OF
DOLLARS

BILLIONS OF
DOLLARS

800

800

OUTSTANDING AT END OF
CALENDAR YEAR

600

600

400

400

|l)|

I •III" I

;7~-^<~CT VW-^

C^J^W/^<-.VVZj. CS^CJrt'-^V^-,

g^Siife: INDIVIDUAL AND^fJ^;
NONCORPORATE .c..^ , ^
^^^
^^^r^^v^^
.._.._ _

200

200

1945

47

49

51

U. S. Department of Commerce, Office of Business Econom

53

55

57

56 - 1 8 - 4

If total private debt is analyzed by type of instrument, the
postwar period is found to have been characterized by a
rather steady rise in long-term debt and a more erratic
advance in short-term liabilities. Swings in the volume of
short-term borrowing have been largely responsible for the
variations in the annual rate of total private debt formation:

SUEVEY OF CURRENT BUSINESS

May 1956

the three years when total private debt showed the sharpest
advances—1947, 1950, and 1955—were marked by pronounced spurts in short-term debt; and the overall increases
have been smallest in the years—particularly 1949 and
1954—when short-term borrowing fell off. In this perspective, the 1955 pattern appears notable for the fact that longterm borrowing played so important a role as it did, accounting for almost as large a fraction of the over-all increase as of
the yearend 1954 total outstanding.

Nonbank supply of loan funds
Information on the ownership of the new debt and the
ultimate sources of the funds lent is much less satisfactory
than are the data on borrower groups just reviewed. Certain
key data bearing on fund sources are discussed in the following paragraphs.
As the volume of new credit requirements rose with the
advance in economic activity, holdings of debt instruments
by corporations (other than banks and insurance companies)
and personal investors expanded more than in proportion
to the advance in total debt, while holdings by government
investment accounts and mutual financial intermediaries
increased somewhat less than proportionately. The over-all
rise in commercial bank loan and investment portfolios was
only half as large as in 1954.
An outstanding feature of the immediate financing of the
debt rise was that the new obligations—which, as noted
previously, represented mainly private debt—were not

acquired by lender groups in the proportions indicated by
the changes in the latters' total holdings. In particular, the
banks' share of newly-formed debt was roughly the same as
in the previous year, but in 1955 was financed to a major
extent by the sale of Federal securities to nonbank investors.
(Somewhat similar though less extensive shifts occurred also
in the portfolios of other financial intermediaries.) Nonfinancial investors' acquisitions of the securities so liquidated
accounted for a substantial part of the increases mentioned
above in their total holdings. Inasmuch as net new Federal
borrowing was small by comparison, these acquisitions
contributed indirectly to the financing of last year's rise in
non-Federal debt. The respective roles of the principal
investor groups in this connection will appear in more detail
from the following review.
Corporate business last year pursued a vigorous investment policy, as is evidenced by its $28 billion outlay for new
plant and equipment and for building up the book value of
inventories held. The 1955 improvement in operating
results, like the decline in 1954, had a substantial effect on
the flow of investible funds from internal sources. Nonfinancial corporations' capital consumption allowances,
retained earnings and income tax reserves totaled around
$27 billion for the year 1955, nearly $12 billion higher than
in 1954. This increase was paralleled by an advance of
close to $9 billion in the annual outlay for plant, equipment
and inventory buildup. The balance of $3 billion represents
the net of a variety of financial transactions some of which
are noted at appropriate points in this article. Among
such transactions, the acquisition of $4 billion of Federal

Tables 1 and 2.—Public and Private Debt (Net and Gross), End of Calendar Year, 1945-55J]
[Billions of dollars]
Public
Public
and
private,
total

End of year

Private
Individual and noncorporate

Corporate
Total

Federal 2

State and
local

!

Total
Total

ft1*

!

Shortterm

Nonmortgage

Mortgage
Total
Farm

!

Nonfarm 3

Farm

4

Nonfarm «

Table 1.—Net Public and Private Debt 6
1945
1940
1947
1948
1949. _
1950
1951
1952
1953
1954

406 3

_

_

1955

266 4

252 7

397.4

243.3

229.7

417 9

. _

237 7
232 7

13 7
13.6
14 4
16.2
18.1

236.7

223 3
216.5
218.6

490 7
524. 6
555. 5
585 9
606. 5

239 4
241.8

218 7
218.5

248.7

222.9

256 7
263. 6

228 1

230.2

20 7
23. 3
25.8
28 6
33.4

657. 8

269 9

231 5

38. 4

434.0
448.2

139 9
154. 1
180.2
201.3
211.5

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
93.5

48
4.9
51
5.3
5.6

27.0
32.5
38 7
45.1
50.6

2.5
2.8
3.5
5.5
6.4

20.4
20.5
24.0
27.6
30.8

251 3

342.9

142 1
162 5
171.0
178 6
177.5

60 1
66 6
73.3
79 5
84.6

81 9
95 9
97.7
99 1
92.8

109 2
120 3
135.8
150 6
165. 4

61
66
7.2
77
8.2

59 4
67 4
75.2
83 8
94.7

61
7.0
8.0
91
9.4

37.6
39.4
45.5
50. 1
53.2

387.9

196 8

92 5

104 3

191 1

91

108. 8

9.7

63.5

282.8
306. 8
329 2

Table 2.—Gross Public and Private Debt
1945
1946
1947
1948
1949

463.3
457.9
520. 1

1950
1951
1952
1953
1954

566. 8
608 1

1955

768.5

486. 1

499.0

646.3
683.0
707.5

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. 1

99.5
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
71.8

54.6
60.6
71 3
83 5
93.5

4.8
4.9
51
53
5.6

27.0
32.5
38 7
45 1
50.6

2.5
2.8
35
55
6.4

20.'
20.,
24. (
27 (
30.^

290. 6
297 2
308 9

266. 4
270 2
279 3

322.0
332.3

289.3
294.4

24.2
27 0
29 6
32.7
37.9

276. 2
310 9
337 4
361.0
375. 2

167. 0
190 6
201 6
210. 4

209.8

72.2
79 9
88.0
95.3
101.6

94.9
110 8
113 5
115. 1
108. 2

109 2
120 3
135 8
150.6
165. 4

61
66
72
7. 7
8.2

59.4
67 4
75 2
83.8
94.7

6. 1
70
80
9. 1
9.4

37. (
39 4
45 f
50. 1
53. '*

345 0

301 8

43 2

423 5

232 4

111 '
1

121 3

191 1

91

108 8

97

63 £

1. Date for State arid 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.




6. The concepts used in this report are described in the October 1950 SURVEY. Prior-year
data for tables 1-7 appear in the September 1953 SURVEY.
Sources: U. S. Department of Agriculture, Agricultural Research Service; U. S. Department of Commerce, Office of Business Economics and Bureau of the Census.

SURVEY OF CURRENT BUSINESS

8

securities is of particular interest from the standpoint of
these corporations' indirect contribution to the financing of
the 1955 debt increase. (This pattern, which emerges for
the corporate system as a whole, is of course a composite
of experiences which have no doubt varied widely from one
company, industry or size group to another.)

Individual and Noncorporate Debt
BILLIONS OF
DOLLARS
200
OUTSTANDING AT END OF
CALENDAR YEAR

BILLIONS OF
DOLLARS
200

May 1956

On the other hand, the flow of personal saving into mutual
financial intermediaries expanded less than in previous years,
and that into time deposits of commercial banks seems to
have contracted from 1954 to 1955. Personal saving last
year through major types of mutual financial institutions
(life insurance companies, savings and loan associations, and
mutual savings banks) is estimated at $12 % billion, its
advance from 1954 falling short of the billion-dollar expansion registered for the preceding year. The leveling off in
the rate of inflow to these institutions, occurring in the face
of heavy demands made on them for mortgage funds, was
compensated in part by a small net liquidation of Federal
securities.

Bank credit

150

150

100

100

Total bank credit rose $5 billion during 1955. This was
about half the rise recorded in 1954, when Federal monetary
policy had given credit expansion a freer rein. However, in
contrast to the slowing in the overall growth of total bank
credit, direct loan expansion by commercial banks amounted
to $12 billion, the largest total on record. These developments, and the associated changes in major items in the
balance sheet for commercial banks, are summarized in billions of dollars in the adjoining text table.
Changes in major assets and liabilities of commercial banks, 1955

Loans
12. 0
U. S. Government securities
— 7.4
Other securities
.4
l
Other assets
.4
50

50

TotaL

5.3

Demand deposits l
Time deposits
Misc. liabilities
Capital accounts
TotaL

3.0
1.5
.1
.7
5.3

1. Excluding interbank deposits and items in process of collection.

The sharp expansion in the loan category is seen to have
been accompanied by liquidation of $7}£ billion of Federal
securities and by increases of $3 billion in demand deposits
COMMERCIAL 8 FINANCIAL
and $1% billion in time deposits. The advances in the
demand and time deposit items compared with 1954 gains of
1945
47
49
51
53
55
57
$4 billion and $3 billion respectively. The slowing in the
expansion of total bank credit in 1955 was of course closely
U. S. Department of Commerce, Office of Business Economics
56-18-5
related to the tapering off in the growth of these items.
The rise of demand deposits, in turn, was affected by the
State and local government investment accounts con- reserve position, increasing pressure on which as the year
wore on is suggested by the course of member bank borrow
tinued to accumulate funds for employee pension and other
ings from the Federal Reserve System. The daily average
purposes, and increased their portfolios of Federal securities
of such borrowings outstanding during 1954 had been under
more than $1 billion during the year. Federall}7 admin$0.2 billion. It rose to $0.5 billion for the first half of last
istered trust funds and other Government investment acyear, and to more than $0.8 billion for the second half. In
counts likewise added to their holdings of Federal debt
November the average exceeded $1 billion, reaching the
instruments, and these purchases nearly offset the increase
highest figure since the monetary stringency of early 1953.
in the gross Federal debt. (The change in the net debt
The expansion in the money supply (measured as "adwas relatively small, as noted earlier.)
justed" demand deposits plus currency outside banks) was
The net total of personal saving during 1955 was not much
somewhat smaller than that recorded in 1954. In percentdifferent from that for 1954. However, the stable aggregate
age terms, moreover, it fell short of the rise in the volume of
of annual saving involved substantial increases both in assets
economic activity: the money supply rose about 2l/2 percent
and in debts of individuals (and related institutions such as
from the end of 1954 to the end of last year; while the gross
private pension funds). Among the asset gains was a total
national product measured in real terms showed an advance
of around $8 billion in stocks, bonds and other securities
on the order of 5 or 6 percent. With the rise in business
held. The 1955 rise in such holdings compares with a 1954
activity and the shift of deposits from nonbank investors to
advance of $1/2 billion. It reflected in large part a swing
borrowers via the banks, there occurred a marked rise in the
from close to $2 billion of net disinvestment in Federal
velocity of circulation. This rise, which was clearly reobligations in 1954 to net acquisition of over $2 billion of
flected in the rate of turnover of demand deposits, tended to
such securities in 1955. Its effect on the money and capital
offset the effect of the lag in monetary expansion upon the
markets paralleled that of the increase in the supply of loantrend of money values.
able corporate and public investment funds mentioned above.



SUEVEY OF CUEEENT BUSINESS

Mav

The Federal Eeserve Banks raised their rediscount rates
Drogrcssively from 1% percent at the opening of 1955 to 2%
percent by the close of the year. Open market operations
served chiefly to offset fluctuations of a seasonal character
.n the volume of bank reserves.
Steps taken by Government agencies to limit the growth of
nortgage and stock market credit specifically are noted below.
Interest rates, which had generally reached lows in mid1954, rose last year. Short-term rates advanced more rapidly than bond yields, and by the end of the year had in
many cases surpassed their earlier postwar peaks. The
Treasury bill rate, in particular, reflected this tendency,
standing at 2.54 percent in December 1955 as compared to
1.14 percent in the same month of 1954 and a previous postwar high of 2.19 percent in April 1953. The average interest rate charged on short-term business loans in 19 large
cities, as reported by the Federal Eeserve Board, stood at
3.93 percent in the fourth quarter as compared to 3.55 percent in the same quarter of 1954 and a previous postwar
high of 3.76 percent recorded in late 1953. Yields on corporate bonds, while rising significantly during the year, remained well below their 1953 highs. Yields on the issues
included in Moody's series for Aaa corporate bonds, for
example, averaged 3.15 percent in late 1955 as against 2.90
percent a year earlier and 3.40 percent in mid-1953.

Federal debt
Net Federal debt rose a little more than $1 billion, or onehalf of one percent, during 1955, to a year end consolidated
total of $231 /2 billion. Last year's expansion was the smallest
since 1951, comparing with annual advances of $2-$5/<>
billion in the intervening years. The amount of Treasury
obligations held outside the Government declined slightly,
retirements exceeding new public issues. The indebtedness
of Federal Government corporations to the public rose, however, from a little over $1 billion at the beginning of the
year to nearly $2% billion last December 31 (table 3).
Gross debt—total direct obligations of the Treasury and
other Federal agencies considered individually—amounted
to $302 billion at year end, up $7% billion from the end of
1954. The year's increase in duplicating debt consisted, in

9

round numbers, of $2 billion borrowed by the Treausry from
Federally administered trust funds and investment accounts
and $4 billion borrowed by Government corporations and
other business-type agencies from the Treasury. The transactions affecting gross debt, which are discussed in the
succeeding paragraphs, may be summarized in tabular form
as follows.
Total
borrowed:
Change in
gross debt

Source of funds
Other
Federal
Outside
agencies
sources:
and
Change in
accounts
net debt
[billions of dollars]
2.1
-0.1

Treasury

Borrower

1. Treasury

2.0

2. Business-type Federal agencies,

5. 4

4. 1

3. Total

7.4

4.1

1. 3
2.1

1.2

Gross new Treasury borrowing (line 1) tapered off from
$3% billion in 1954 to $2 billion last year, as the fiscal position
of the Government continued to improve. Although Budget
expenditures in the calendar year 1955 were up more than $1
billion from 1954, net Budget receipts advanced by a larger
amount as tax revenues rose, and the deficit declined below
$3 billion. The Treasury met this deficit in part by drawing
upon its cash balance, reducing the amount of new loan funds
required to $2 billion. The accompanying text table compares these results with those recorded in the calendar years
1953 and 1954, and shows the extent to which Treasury
needs have been met from certain intra-Governmental and
outside sources.
Calendar
1954

1953

9.2

Budgetary deficit.

Plus: Increase ( + ) or decrease ( —) in cash balance
Clearing account, etc

1955

3.7

2.8

3. 6

2.0

-1. 5
.1

7. 8

Equals: Total borrowed

2. 4
.5
1. 3
.6
5. 4

From Federal agencies and accounts.
UC Trust Fund
OASI Trust Fund
Other
From outside sources

1. 3 2. 1
-.8
1. 2
1. 6
.5
.9
2. 3 -.1

Table 3.—Gross and Net Federal Government Debt, End of Calendar Years, 1945—55
[Millions of dollars]
Gross debt
Federal Government
Federal
Government and
Federal
agency,
total i

End of year

1955

1.
2.
3.
4.

Total
Public
issues

Special
issues

Noninterest
bearing 2

Federal
GovernFederal ment and
3
Federal
agency
agency,
total

Federal
Government securities
held by
Federal
agencies
and trust
funds

Federal agency securities 4 6

Total

Federal
Govern- Federal
Held by ment and GovernFederal
Held by
other
ment
U.S.
Federal agency,
total
Treasury agencies

Federal
agency

.

_.

_

_.

292, 599
272, 147
269, 753
257, 994
266, 067

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
1,500
2,695
2,220
2,111

14, 485
12, 998
12, 853
5, 194
8,937

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

1,041
792
243
240
833

252, 742
229, 749
223, 318
216, 484
218, 584

251,073
228, 236
222, 548
215, 483
217, 784

1,669
1, 513
770
1,001
800

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

46
66
47
25
27

218, 702
218, 549
222, 881
228, 112
230, 242

217,511
217, 138
221, 498
226, 855
229, 141

1, 191
1,411
1,383
1,257
1,101

301, 845

1945
1946
1947
1948
1949
1950
1951
1952
1953
1954

Interest bearing

Total

Net debt

Duplicating debt

280, 769

277, 799

233, 873

43, 926

2,970

21, 076

70, 377

51, 723

18, 654

18, 642

12

231, 469

229, 046

2,423

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. S. Treasury.
Bonds, debentures, and notes payable.




5. Federal agency securities held in Federal Trust funds were less than $500,000 in all years
shown.
Source: U. S. Treasury Department.

10

SURVEY OF CURRENT BUSINESS

As the table suggests, the slight reduction noted above in
the amount of Treasury issues held by the public was
facilitated by last year's rise in trust and other Federally
administered funds available for investment, which was
more than enough to cover the Treasury's needs for new
money. The most important single factor in the rise of
such intra-Governmental investment was a shift, after the
first quarter, from deficits to surpluses in the current account
of the Unemployment Compensation fund as the volume of
benefit payments tapered off with returning prosperity. At
the same time, accumulation of reserves continued on a large
though somewhat diminished scale in the Old-Age and Survivors Insurance account and was stepped up in the Government Employees Retirement and National Service Life
Insurance accounts.
Government enterprises (line 2 in the first text table
above) borrowed a net total of $4 billion from the Treasury
and nearly $lK billion from the public. The bulk of the
Treasury lending was to the Commodity Credit Corporation
for its price-support operations. The Corporation used part
of the funds so obtained to help finance an outlay of nearly
$2 billion for farm products added to its crop inventory and
an increase of almost a billion in its holdings of commodity
loans. These changes reflect to some extent the acquisition
during the year of close to $1/2 billion of price support loans
and certificates of interest which had been held by commercial banks.
This CCC borrowing was partly offset from the Treasury
standpoint as the Federal National Mortgage Association
retired over $K billion of its debt to the Treasury during the
year, floating notes to a similar amount in the open market
to do so. The latter transaction is reflected in the total
shown above for net borrowing by Government enterprises
from outside sources, which also includes more than $K
billion borrowed by the Federal Home Loan Banks as the
latter expanded their credits to savings and loan associations.
Although the Treasury needed to raise only $2 billion net
in new money in 1955, about $63 billion of marketable
securities outstanding became due or callable within the
year. The necessary refunding was accomplished largely
by the issue of short and intermediate term obligations, at
coupon rates which were higher than those of 1954 in line
with the comparatively tighter conditions prevailing in the
money markets.
The proportion of the marketable debt due or callable
within one year stood on December 31 at 41 percent, compared to 40 percent at the end of 1954 and nearly 50 percent
at the end of 1953. The fraction maturing within one to
five years rose from 25 to 26% percent, an advance similar
to the rise recorded for 1954, and that represented by
obligations with maturities more than five years in the
future dipped from 35 to 32% percent after having risen almost 8 percentage points during the previous year. The
Treasury floated one $2% billion bond issue, partly in exchange for maturing debt and partly for cash. This carried
the longest maturity— 40 years — of any Federal issue since
the Panama Canal Bonds issued in 1911. On balance the
average maturity of the marketable Federal debt remained
about the same at the end of last year as at the beginning,
and roundly one-eighth longer than in December 1953.
The substantial shifts in the ownership of the Treasury
debt last ye^T have already been noted.

State and local governments
Net debt of State and local governments increased about $5
billion, to a total of $38% billion, in the year ended June
30, 1955. This advance was slightly larger than that regis-




May 195i

tered in the previous fiscal year. (Comprehensive statistic
of State and local government debt, unlike other statistic
presented in this report, are not prepared on a calendar year
end basis.) Borrowing by local governments accelerated ii
1955, while that of State governments slowed somewhat.
Similarly high rates of new borrowing by State and loca
governments have been typical of the postwar period ii
general, and continued into 1956. In the accompanying
chart, such borrowing over the 7-year period ending in Jum
1955 is shown in the perspective of the sources and uses o
investment funds of these governments.1 Although some o

State and Local Governments
Sources of funds to finance construction
and to increase liquid assets *
BILLIONS OF DOLLARS
80 —

Cumulative 1948~1955

60 —
BORROWING

40 ~

CONSTRUCTION
INCL. LAND) —

FEDERAL
GRANTS

o 0 __ OPERATING
SURPLUS

SOURCES
OF FUNDS

USES
OF FUNDS

•# For definition see text footnote 1
U. S. Department of Commerce, Office of Business Economics

56-18-7

the estimates are merely rough approximations, they show
clearly how the expansion of State and local debt has served
to supplement funds from operating surpluses in the financing
of investment in new schools, streets and highways, and other
fixed facilities.
The chart also indicates a considerable expansion in the
liquid asset holdings of State and local governments. This
expansion reflects a number of factors, including the growth
of retirement funds for public employees, a rise in working
capital needs, the temporary investment of cash intended
eventually to pay for capital improvements, and the requirements of sinking funds.
Of the total net new borrowing of these governments, the
States last year accounted for only about one-third. The
decline of this fraction from the comparable 1954 figure of
two-fifths was associated with a decline in the amount of
new highway financing, particularly for toll roads. The rise
in local government borrowing paralleled an increase in the
volume of school construction.

1. "Borrowing" in the chart represents the increase in gross debt [during the 7 fiscal years,
less an estimated $1.1 billion borrowed to finance bonus payments to war veterans. Th
Federal grants-in-aid shown include only those associated with capital improvement programs. "Operating surplus" is calculated as the State and local government surplus on income and product account before credits to the Federal grants and before expenditure for
bonus payments financed by current borrowing and outlays for land and new construction.

SUEVEY OF CURRENT BUSINESS

Mav 1956

The commercial banking system continued through fiscal
1955 to serve as the most important single source of loan
funds for State and local governments. However, the banks'
share of the total net increase in such credit was smaller,
both dollar- and percentage-wise, than in 1954.

Corporate borrowing
Net corporate debt outstanding at the end of 1955
amounted to almost $197 billion, $19K billion above the
total at the beginning of the year. This advance compares
with previous peak increases of $24 billion in 1950 and $20 %
billion in 1951; in these earlier years both the inventory
buildup and the rise in corporate income tax liabilities had
been sharper than in 1955, while plant and equipment outlays had been smaller.
The short-term component accounted for $11K billion of
last year's rise, after having dipped $6^ billion during 1954.
The total of notes and accounts payable was up about $6/<>
billion, and "other" short-term debt registered a $5 billion
advance (see table 5).
The 13K percent rise in notes and accounts payable helped
to finance the inventory buildup and the extension of trade
credit to household, business, and governmental customers.
About half the rise in corporate notes and accounts
payable took the form of an increase in bank loans, with the
remainder consisting chiefly of trade credit from suppliers.
The largest single portion of the increase in commercial and
industrial bank loans went to sales finance companies. The
heavy volume of bank borrowing by these companies
stemmed from the substantial rise in consumer credit which
is described in a later section of this article. Other largely
corporate industries in which debt to banks showed marked
advances last year include the public utilities group and
several lines of manufacturing.
Table 4.—Gross and Net State and Local Government Debt,
June 30, 1945-55
[Millions of dollars]
Duplicating debt

Gross debt
End of fiscal
year

2

Net debt

Total i

State

Local

Total

State

Local

Total

State

1945
1946
1947
1948
1949

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
14, 980
16, 851

2,864
2,349
2,428
2,476
2,726

1,046
754
804
851
970

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

12, 346
11,969
12, 223
13, 355
15,095

1950
1951
1952
1953
1954

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
1,465
1,628
1,953

2,070
2,211
2,387
2,548
2,570

20, 723
23, 347
25, 771
28, 559
33, 381

3,963
4,891
5,575
6,373
8,251

16, 760
18, 456
20, 196
22, 186
25, 130

43, 200

11, 800

31, 400

4, 850

1,990

2,860

38, 350

9, 810

28, 540

19553

._

Local

In spite of last year's growth in debt, the financial position of corporate business as a whole continued strong.
Current assets of nonfinancial corporations remained about
twice as large as current liabilities; and net working capital—
the difference between the two—topped $100 billion for the
first time. While the combined total of short- and long-term
net debt was up $19}£ billion from the beginning of the
year, retained corporate profits and the proceeds of new
stock issues added around $12 billion to total equity.

Nonfarm mortgage debt
Mortgage debt owed by individuals and partnerships on
nonfarm property rose $14 billion last year—the largest
increase on record for this debt category. The 1955 advance
brought the outstanding total of such debt to $109 billion.
As in other recent years, over four-fifths of the expansion
in noncorporate mortage debt occurrred in the 1- to 4family residential category. The annual dollar volume of
new dwelling construction attained a peak last year, as
the number of new housing units started approached the
record figure of 1.4 million reached in 1950 while the average
value of construction work per unit was up 30 percent from
1950 with higher costs and an increase in the size of units
built.
With the tightening in the mortgage market as the year
passed, demand for mortgage loan funds seems to have
pressed hardest against supply in the smaller places, or
when the property to be mortgaged was not new.
As shown in the chart on p. 12, total mortgage debt
of individuals and corporations on 1- to 4-family housing
units rose $13 billion last year. Proportionately, the most
striking advance was the increase of $5 billion or one-fourth
in mortgages carrying a Veterans Administration guarantee.
VA loans were available during the first half of 1955 with
no downpayment required and with maturities up to 30
years. To restrain the growth of this type of debt, in July
the Veterans Administration established a minimum downpayment of 2 percent and a maximum maturity of 25 years
as conditions of eligibility for guarantee of loans applied for
thereafter. These restrictions were not fully reflected in
the course of mortgage closings during the balance of the
year, since they did not apply to mortgages in connection
with which VA appraisals had been requested before midyear. (It may be noted that the VA reinstated its 30-year
maximum maturity requirement early in 1956.)
As indicated by the accompanying text table on VAguaranteed mortgages closed, loans involving no downpayment and those carrying maturities of more than 25
years had shown an initial spurt as a large group of new
borrowers took advantage of the easier money market
conditions and liberalized VA requirements after mid-1953.
The percentage of such loans slowed its rate of rise in the
early part of 1955, and leveled off or declined after midyear.
V A-Guaranteed Loans Closed

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 1955 are not strictly comparable with 1949 and earlier years. (See
"Governmental Debt in 1951," Bureau of the Census, December 1951.)
Source: U. S. Department of Commerce, Bureau of the Census and Office of Business
Economics.

The $5 billion advance in the "other" short-term debt
shown in table 5 centered in the item of accrued unpaid
Federal income tax liabilities, which rose about $3 billion
last year as taxable profits increased sharply.
Long-term corporate net debt rose about $8 billion during
1955, three-fifths more than during 1954, to a yearend total
of $92y z billion. The acceleration in growth of such debt
was associated with the quickening pace of capital goods
investment.



11

Quarter

Percent
Percent
Number of with ma- with no
loaiis
turity of downpayment
(thousands) 26-30 years

1953: III_
IV1954:
I_
II
III
IV1955: I_
II.

82
84
74
82
108
147
168
147

6
11
13
18
25
35
41
44

9
11
15
23
30
37
39
43

III.
IV_

155
184

44
43

40
36

Coming at a time when other types of credit were also in
heavy demand, expansion in the call for mortgage loans put

SURVEY OF CURRENT BUSINESS

12

considerable pressure on the supply of funds available for
this purpose. By year end discounts on the order of 3
percent were reported from some areas, even on 25-year
VA-guaranteed loans with a 5-percent downpayment.

Annual Net Change in One- to Four-Family
Nonfarm Mortgages Outstanding, by Type
BILLIONS OF DOLLARS
15

10

May 1956

ment took other steps to restrain the growth of mortgage
debt. From September on, the Home Loan Bank Board
restricted borrowing by member savings and loan associations; and the various Federal Reserve Banks exerted some
influence towards inducing commercial banks to limit their
mortgage-warehousing arrangements.
Along with other demand factors, the general tightness in
the money markets, as supplemented by these measures,
has helped to determine the course of new residential building.
Savings and loan associations, which specialize in "conventional" mortgages, absorbed over two-fifths or $5
billion of the $13 billion overall net increase in 1- to 4-family
housing debt. Life insurance companies provided $2K
billion. Mutual savings banks added $2 billion to their
holdings; and commercial banks expanded their mortgage
portfolios by a similar amount, increasing their percentage
of total new mortgage lending. Mortgage debt held by
other lenders was up $1 billion.
Debt on noncorporate commercial and multifamily
residential property (table 7) rose $2l/2 billion last year.
This one-tenth rise represents a relatively sharper advance
than during any of the 3 preceding years. The bulk of
it was in debt secured by commercial property, which
advanced in line with the increased investment in such
property.

Consumer Credit

CONVENTIONAL

I
1947

48

49

1 ...,l

50

51

52

53

54

55

BASIC DATA: VA, FHA, FHLBB
U. S. Department of Commerce, Office of Busin<

Economics

56-18-6

The growth in demand for loans insured by the Federal
Housing Administration, stimulated by the relative easing
of terms permitted under the Housing Act of 1954, carried
the total outstanding up $1K billion during 1955. This oneninth rise was accompanied by a less pronounced tightening
in the market for funds than occurred in the case of VA.
loans, although discounts of up to 2 percent became significantly more common as the year drew to a close. Like the
VA, the FHA stiffened its downpayment and (temporarily)
its maturity requirements in July.
In the case of conventional loans, which rose $6K billion
or one-seventh, the general pressure of credit requirements
against supply was reflected chiefly in the terms on which
loans were obtainable, though in some places borrowers
encountered increased difficulty in obtaining mortgage
money.
The major supply-side developments associated with this
increasing stringency have been suggested above. Besides
liquidating Federal securities, some long-term lending institutions sought temporary bank financing for their new mortgage holdings, or arranged to have the banks purchase mortgages which the long-term lender would then take over at a
future date; and mortgage companies and other intermediate
lenders borrowed extensively from the banks to carry their
inventories. By mid-November the volume of such warehoused mortgage debt exceed $1K billion. (Yearend figures
were not compiled; in February 1956 the reported total was
a little lower.) Savings and loan associations increased their
borrowings from the Federal Home Loan Banks, the total
outstanding approaching $ll/2 billion b}^ year end.
Besides imposing stiffer downpayment and maturity requirements on new VA and FHA loans, the Federal Govern-




Short- and intermediate-term consumer credit outstanding
on December 31 last year, at $36 billion, was $6 billion
higher than at the end of 1954. The 20-percent advance
recorded during the year was comparable in sharpness to
the spurt after the outbreak of Korean hostilities in 1950
and that following the removal of credit controls in 1952.
It centered in the installment credit portion, which rose $5K
billion.
Most of the advance in installment credit stemmed from
a $4 billion expansion in auto loans. The total of installment paper secured by other consumer goods rose about
$% billion, as did personal installment loans outstanding,
while repair and modernization loans showed little change.
The three-eighths rise in auto paper reflected the enthusiastic buyer response to the 1955 model automobiles. New
auto loans made aggregated upwards of $17^ billion last
year as compared with $12}£ billion in 1954. This advance
is traceable in part to the larger number of car sales—new
passenger-car registrations reached an all-time high of over
7.2 million units for the year—-and in part to a relatively
greater use of credit in the financing of purchases. While
last year's gross new lending topped 1954 by more than $5
billion, repayments were up less than $!}£ billion, in line
with the lower levels of credit extension in previous years.
"Other consumer goods paper" advanced $0.8 billion last
year after having declined $0.2 billion during 1954. This
rise was associated with a strengthened demand for furniture
and household equipment, in particular. The $0.7 billion
advance in personal installment loans outstanding compared
with a 1954 rise of less than $K billion. The noninstallment
categories of consumer credit expanded less sharply.
Sales finance companies accounted for the largest single
share of the net new lending to consumers last year, absorbing
about $2^ billion of the $5% billion expansion in installment
paper. Commercial banks increased their holdings of installment debt by more than $lK billion and their portfolios
of single-payment loans by nearly $K billion. Retail outlets
expanded their credit to consumers by somewhat under
$1 billion, and small loan companies, credit unions and
miscellaneous lenders together provided a similar total; in
both cases, the bulk of the increment consisted of installment
debt.

SURVEY OF CURRENT BUSINESS

May 1056

It may be noted that more than half of last year's expansion in consumer debt was financed directly or indirectly by
the commercial banks, sales finance companies having
borrowed about $1% billion from the banks to help coyer the
increase in their lending operations.
Interest rates on consumer loans showed some upward
movement last year, in line with the relatively tight condition of the money market generally.

Farm debt
The total of production and mortgage debt owed by
farmers and farm cooperatives amounted to almost $19
billion at the end of last year, over $1 billion above the total
outstanding at the end of 1954. This increase compares
with recent past highs for net new borrowing of over $2
billion in 1948 and $1% billion in 1952 and 1953, when heavy
price support lending was a major element in the totals.
Mortgage debt on farm property rose almost $1 billion last
year, the increase being the largest recorded in this debt
category for any single year since 1920. The nationwide
average of prices reported paid for farmland has moved up in
the past 2 years despite the downturn in farm commodity

13

prices and incomes. Demand for additional acreage to
expand existing farms seems to be an important element in
the strength of the market for farm real estate. Survey
data suggest that the greater efficiency with which labor
and machinery can be utilized on larger units is a common
reason for enlarging farms.
Farm production debt outstanding at the end of last year
amounted to a little under $10 billion. The advance of
less than % billion during 1955 was somewhat larger, percentagewise, than that recorded for the previous year. As
in 1954, the rise last year involved a divergence in movement
between the two broad components of the total. The 195455 decline in the year-end total of outstanding price support
loans made or guaranteed by the Commodity Credit Corporation amounted to about $0.2 billion. This reduction was
more than offset, however, by a further rise of over $%
billion in regular production credit.
The contraction in price support loans outstanding reflected declines both in the volume of some of the crops under
loan and in the average prices at which they had been
pledged.
Last year's shift in the pattern of arrangements for financing loans under the price support program, which has

Table 5.—Gross and Net Corporate Debt, End of Calendar Year, 1945-55
[Millions of dollars]
Railway corporations

All corporations
Short-terrn

End of year
Total

Longterm l

Total

l

Notes and
accounts
payable

Nonrailway corporations

Short-term
Total
Other

Long
term 1

Total

l

Notes and
accounts
payable

Short-term
Total
Other

Longterm i

Total

Notes and
accounts
payable

l

Other

Gross Corporate Debt
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
36, 743
34, 496

15,411
13, 714
14, 173
13, 995
13, 710

11, 874
10, 877
11, 169
11, 124
11, 244

3,537
2,837
3,004
2,871
2,466

881
799
904
872
769

2,656
2,038
2,100
1,999
1,697

84, 112
95, 578
113,984
124, 804
125, 844

33, 447
37, 558
43, 819
51, 684
56, 476

50, 665
58, 020
70, 165
73, 120
69, 368

24, 837
30, 868
36, 772
38, 376
36, 569

25, 828
27 152
33, 393
34 744
32, 799

1950
1951
1952
1953
1954

167, 036
190, 637
201, 559
_ . 210, 388
209, 814

72, 153
79, 855
88, 016
95, 334
101, 613

94, 883
110, 782
113, 543
115, 054
108, 201

48, 096
54, 700
59, 055
58, 394
55, 997

46, 787
56, 082
54, 488
56, 660
52, 204

14, 280
14, 463
14, 587
14, 123
13, 522

11, 264
11,377
11,498
11, 236
11, 119

3,016
3, 086
3,089
2,887
2 403

915
903
906
882
775

2, 101
2,183
2,183
2,005
1 628

152 756
176, 174
186, 972
196 265
196 292

60 889
68, 478
76, 518
84,098
90 494

91 867
107, 696
110, 454
112, 167
105 798

47 181
53,797
58, 149
57, 512
55 222

44 686
53, 899
52, 305
54 655
50 576

1955

232,411

111, 092

121,319

63, 624

57, 695

14, 157

11, 483

2,674

895

1, 779

218 254

99 609

118 645

62 729

55 916

5 900
6 625
7 730

4 140
5 145

9 117
9 962

6 846
8 322
10 046
10 405
10 113

2 706
3 177
3 925
4 008
4 017

741
080
498
835
963

12, 680
14 552
15 549
15 647
15 120

9' 587
9 205

4 816
5 585
5 856
6 060
5 915

1945
1946
1947
1948
1949

._ _.

Duplicating Corporate Dept
1945
1946
1947
1948
1949

14, 231
15, 754
19, 275
21,018
21, 561

6,999
7,092
8,902
10, 322
11, 186

7,232
8,662
10, 373
10, 696
10, 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
1,486

1,099
467
1,172
,205
,224

386
340
327
291
262

124
111
126
121
107

262
229
201
170
155

12 746
14 947
17' 776
19 522
20 075

1950
1951
1952
1953
1954

24, 978
28, 121
30, 529
31, 784
32, 360

12, 007
13, 266
14, 682
15, 857
16, 985

12, 971
14, 855
15, 847
15, 927
15, 375

7,991
9,093
9,819
9,709
9,313

4,980
5,762
6 028
6,218
6,062

1,557
1, 489
1,482
1,302
1,277

,266
,186
,184
,022
,022

291
303
298
280
255

127
126
126
122
108

164
177
172
158
147

23
26
29
30
31

35 623

18 592

17 031

10 581

6 450

1 292

1 021

271

124

147

34 331

17 571

16 760

10 457

6 303

3,151
2 497
2 677
2 580
2 204
2 725
2 783
2 791
2,607
2 148
2 403

757
688
778
751
662
788
777
780
760
667
771

2,394
1 809
1,899
1 829
1 542
1,937
2 006
2 Oil
1,847
1 481
1,632

71, 366
80 631
96 208
105 282
105 769
129 335
149 542
157 925
165 783
165 209
183 923

27, 547
30 935
36 089
42 567
46 514
50 148
56 398
63 020
69 263
74 531
82 038

43, 819
49 6G8
60 119
62 715
59 255
79, 187
93 144
94 905
96, 520
90 678
101, 885

20, 697
25 723
30 651
31 979
30 473
39 317
44 830
48 456
47, 925
46 017
52 272

23 122
23 975
29 468
30 736
28 782
39 870
48 314
46 449
48 595
44 661
49 613

-

1955

- .
.

421
632
047
482
083

10
12
13
14
15

6 121
6 397
6 096
7 864
8 967
9 693

Net Corporate Debt
1945
1946
1947.
1948
1949
1950
1951.
1952.
1953
1954
1955.

_ .

85, 292
93, 538
108, 882
117, 781
117, 993
142, 058
162, 516
171, 030
178, 604
177, 454
196, 788

38, 322
41, 343
46, 086
52, 486
56, 534
60, 146
66, 589
73, 334
79, 477
84, 628
92,500

46, 970
52, 195
62, 796
65, 295
61, 459
81, 912
95, 927
97, 696
99, 127
92, 826
104, 288

21, 454
26, 411
31, 429
32 730
31, 135
40, 105
45 607
49, 236
48, 685
46 684
53, 043

25, 516
25, 784
31, 367
32 565
30 324
41, 807
50 320
48 460
50, 442
46 142
51, 245

13, 926
12, 907
12, 674
12 499
12 224
12, 723
12 974
13 105
12,821
12 245
12, 865

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.




10, 775
10 410
9,997
9 919
10 020
9,998
10 191
10 314

10, 214
10 097
10, 462

Source: U. S. Treasury Department, Internal Revenue Service; Interstate Commerce
Commission; U. S. Department of Commerce, Office of Business Economics.

SUEVEY OF CURKENT BUSINESS

14

advance was associated with continued mechanization of
farm operations and with a further increase in the livestock
inventory.

been mentioned above in connection with the change in
Federal debt, is summarized in the accompanying text
table. This table, based on CCC reports of financial condition, distinguishes two broad types of such debt: loans held
outright by the Corporation; and CCC-guaranteed debt
which had been privately financed directly or through
certificates of interest in pooled CCC holdings. (Totals are
based on unrounded data.)

Commercial and financial debt
Commercial debt owed by noncorporate businesses stood
at $15K billion at year end, nearly one-fourth higher than at
the beginning of the year. The total had been relatively
stable in 1952-54. Part of last year's rise stemmed from
expansion of business inventories and fixed asset holdings
by the proprietorships and partnerships. However, the
advance reflected too the increased importance of mortgage
warehousing arrangements with noncorporate mortgage
brokers and mutual financing institutions, whose borrowings
are also included in this debt category.
Financial debt outstanding at the end of last year
amounted to $11/2 billion, up more than $1 billion from the
end of the previous year. During 1954, this category of
debt had risen $2 billion. The slowing in the rate of growth,
which was confined to the security loan component, accompanied action by the Federal Reserve Board to raise
margin requirements.

Loans held on December 31
1952

Commodity Credit
right)

Corporation (out-

1953
1954
1955
(billions of dollars)

0.8

0.6

1. 5

2. 3
1.0
1. 2

2. 3
1.0
1. 4

1.0
.8
.3

1.4

Total.

0.8

0. 6
0. 6

Private lending agencies
Direct loans
Certificates

May 1956

3.0

2.9

2.6

The 1955 advance in other farm production credit was
higher than that recorded for net new borrowing in this
category in 1954, but still below the peak figure of just under
$1 billion which had been reached in 1951. Last year's

Table 6.—Nonfarm Mortgage Debt by Borrowing and Lending Groups, by Type of Property, End of Calendar Year, 1945-55 1
[Millions of dollars]

.
Residential and commercial
End of year
Total

Multifamily residential and commercial
Mult

1-4 family residential

Corporate
borrowers 2

Noncorporate
borrowers

Total

Savings
avings
and
loan
associassociations

Life
insurance
carriers

Mutual
savings
banks

Commercial
banks

12, 185
13, 845
15, 654
17, 629
19, 479

220
301
381
464
499

3, 554
3,815
4,283
4,900
5,675

2,290
2,399
2,545
2,937
3,304

1,376
1,957
2,320
2, 627
2,779

1
22

4,745
5, 373
6,125
6,700
7,200

8,445
8,833
9,444
10, 144
10, 890

21, 577
23, 920
25, 663
27, 468
29, 833

541
720
751
963
1,189

6,297
7,177
7,789
8,241
8,775

3,905
4,538
5,132
5, 517
5,949

3,215
3,453
3, 559
3,743
4,114

19
32
32
104
106

7, 600
8, 000
8, 400
8,900
9,700

11,912

32, 357

1,387

9,430

6, 350

4, 519

171

10, 500

Savings
and
loan
associations

Life
insurance
carriers

Mutual
savings
banks

Commercial
banks

HOLC

FNMA

Individuals
and
others 3

6
4
198
806

5,501
6, 398
7,151
7,697
8,052

1,328
1,818
2,210
2 358
2,328

2,444

1945
1946
1947
1948
1949

30, 776
36, 879
43, 853
50, 908
57, 098

3,813
4,428
5,114
5,835
6,490

26, 963
32, 451
38, 739
45, 073
50, 608

18, 591
23, 034
28, 199
33, 279
37, 619

5,156
6,840
8,475
9,841
11,117

2,306
2, 545
3, 497
4,943
6, 093

1,894
2,033
2,283
2,835
3, 364

2,875
4,576
6,303
7,396
7,956

852
636
486
369
231

1950
1951
1952
1953
1954

66, 747
75, 631
84, 163
93, 562
105, 510

7,363
8,245
8,997
9,804
10, 842

59, 384
67, 386
75, 166
83, 758
94, 668

45, 170
51,711
58, 500
66, 094
75, 677

13,116
14, 844
17, 645
20, 999
25, 004

8,478
10,610
11,757
13, 195
15,153

4,312
5,331
6,194
7,373
9,002

9,481
10.275
11,250
12,025
13, 300

10

1955 P

120, 882

12,082

108, 800

88, 525

30, 197

17, 736

11,048

15,188

Total

FNMA

Individuals
and
others

3. Includes portfolio loans of the Veterans Administration.

p. preliminary.
1. The data represent mortgage loans on commercial and residential property, excluding
multifamily residential and commercial property mortgage debt owed by corporations to
ether nonfinancial corporations.
2. The corporate mortgage debt total is included in the total corporate long-term debt
outstanding, Table 5.

Sources: Federal Home Loan Bank Board; 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, 1945-55
[Millions of dollars]
Nonfarm

Farm
Farm and
nonfarm
total

End of year

1945
1946
1947
1948
1949

1955

Farm mort- Farm production
gage i
loans 2

Total
nonfarm
Total

1-4 family

Multifamily
and commercial

Total

Commercial

Financial 3

Consumer

_ _

7,250
7, 652
8,610
10, 793
12, 028

4, 760
4,897
5, 064
5,288
5,579

2,490
2, 755
3,546
5,505
6,449

47, 380
52, 962
62, 736
72, 677
81, 439

26, 963
32, 451
38, 739
45, 073
50, 608

17, 661
21, 882
26, 789
31,615
35, 738

9,302
10, 569
11,950
13, 458
14, 870

20, 417
20, 511
23, 997
27, 604
30, 831

4,432
6,238
7,614
8,073
7,757

10, 320
5,889
4,813
5,120
5, 970

5, 665
8,384
11,570
14,411
17, 104

109, 198
120, 343
135, 791
150, 629
165, 401

12, 220
13, 565
15, 139
16, 778
17, 539

6,071
6,588
7,154
7,656
8,176

6,149
6,977
7,985
9,122
9,363

96, 978
106, 778
120, 652
133, 851
147, 862

59, 384
67, 386
75, 166
83, 758
94, 668

42, 912
49, 125
55, 575
62, 789
71, 893

16, 472
18, 261
19, 591
20, 969
22, 775

37, 594
39, 392
45, 486
50, 093
53, 194

9,918
11, 272
12, 181
12, 086
12, 667

6,863
6,652
7,478
8,470
10, 402

20, 813
21, 468
25, 827
29, 537
30, 125

191, 079

18, 821

9,100

9,721

172, 258

108, 800

84, 099

24, 701

63, 458

15, 646

11,587

36, 225

1. Includes regular mortgages, purchase-money mortgages, and sales contracts.
2. Includes agricultural loans to farmers and farmers' cooperatives by institutional lenders;
farmers' financial and consumer debt is included under the "nonfarm" categories.
3. Comprises debt owed to banks for purchasing or carrying securities, customers' debt to
brokers, and debt owed to life insurance companies by policyholders.




Other

54, 630
60, 614
71, 346
83, 470
93, 467

_

1950
1951
1952
1953
1954

Xonfarm mortgage
Total
farm.

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.

by Carolyn G. Bernhard

Growth of the
Consumer Service Market
_L HE strong rise in personal consumption expenditures for
services in the first quarter of this year extended an uptrend
which has been uninterrupted for 18 years. Since 1945
this advance, in addition to being both persistent and pronounced, has been notably steady in dollar terms. In 8 of
the past 10 years the rise from the previous year has been
within the range from just under $5 billion to just over $6
billion; in 1949 it came to $3K billion and in 1954 to $4%
billion. Inasmuch as the level of service expenditures increased from $40 billion in 1945 to $91 billion in 1955, rather
constant dollar increases have meant that in percentage
terms the rate of advance was larger during the immediate
postwar years than in the more recent period.
With services accounting for over one-third of total personal consumption expenditures and nearly one-fourth of the
entire gross national product, their regular advance has been
a major force tending toward stable growth in the value of
the Nation's output. This article discusses some of the
factors underlying the trend of expenditures for services,
and points out the sectors of the economy mainly affected.

INFLUENCE OF INCOME AND PRICE
MOVEMENTS
The postwar advance of service expenditures has been part
of the broad expansion of total spending and income which
has characterized the period. However, during these years
dollar expenditures for services have risen more steadily,
and over the period as a whole much more sharply, than
either disposable personal income or consumer expenditures
for commodities. From 1947—when production of durable
goods had substantially recovered from wartime restrictions—to 1955 the service total increased by 78 percent.
This compares with a 59 percent increase in disposable
income, and was nearly double the 42 percent increase in
spending for commodities.
These facts do not, however, warrant either the assumption
of a long-term upward trend in spending for services relative
to disposable personal income or to spending for commodities,
or of more than a short-run, and quite limited, independence
of service expenditures to changes in disposable income.
The following considerations bear upon this conclusion.

Services below prewar income proportion
In no postwar year was the ratio of personal consumption
expenditures for services to disposable personal income as
high as in any year of the prewar period from 1929 through
1940. The proportion of almost 34 percent in 1954 and 1955,
highest of the postwar period, was still well below the 38.6
percent of 1929. Among the major groups of consumer expenditures shown in the usual classification by type of expenditure, service expenditures (summarized in table 1)
comprised a higher proportion of disposable income in 1955
than in 1929 only for household operation, medical care, and
private education. Comparison of the services with total
personal consumption expenditures, rather than disposable
income, yields similar results; from 1929 to 1955 services deNOTE: MRS. BERNHARD IS A MEMBER OF THE NATIONAL INCOME DIVISION, OFFICE OF BUSINESS ECONOMICS.



clined from 40.6 percent of total consumption expenditures
to 36.1 percent.
Prices of commodities dropped more than those of services
in the early thirties and rose much more from then until
shortly after the war, at which time they were substantially
higher, relative to 1929, than service prices. Differences in
these price movements are much less pronounced after 1933
when the comparison is made between commodities and
services excluding housing.
The gap between service and commodity prices, as well as
that between housing and other service prices, has narrowed
in the postwar period. The cost of housing services climbed
36 percent between 1947 and 1955, the price of other services
28 percent, and commodity prices 12 percent. Despite these
changes, the composite implicit price index for services in
1955 still stood only 48 percent above 1929—but 64 percent
if housing is excluded—as compared with 69 percent for
commodities.
When the expenditures data are adjusted for changes in
prices, variations in the division of consumer spending between commodities and services as a whole are not marked,
either as between 1929 and recent levels or within the postwar period. Services constituted the same percent of real
spending (expressed in 1947 prices) in 1929 and 1954, slightly
less in 1955. Thus the downward shift from 1929 in the
current dollar expenditure pattern results from differential
price movements as between commodities and services.
Within the postwar period the increase in service expenditures as compared with commodities is also much dampened
when both are expressed in constant prices.
Rental rates, which during the thirties had declined more
and recovered less than other prices, were held in check by
war and early postwar controls; although they have since
risen more than consumer prices generally, they still are
relatively low in comparison with 1929. For this reason,
postwar expenditures for housing, though rising rapidly
since the war in both current and constant dollar terms,
still comprise a decidedly lower proportion of total currentdollar expenditures than in 1929; measured in constant
dollars, however, the proportion is higher. The latter fact
reflects the improved average quality, as well as the increased
number, of dwelling units. In the past 2 years the advance
in rental rates, though continuing, has been much more
moderate than in the earlier postwar years, while the increase
in "real" housing services has accelerated with the large
volume of new housing entering into the housing stock.
If housing is excluded from the service totals, the relationship of expenditures for services to total expenditures is
changed in both current and constant dollars. In current
dollars, exclusion of housing reduces the drop in the importance of service outlays between 1929 and 1955; it was from
26 percent to 24 percent of total consumption. The latter
proportion had risen from a low of less than 22 percent in
1947.
Indeed, when 2 reasonable adjustments to improve comparability from this standpoint are made in the consumption
figures—the deletion of alcoholic beverages, which were
illegal in 1929, and of brokerage charges and interest which,
as a result of heavy trading, large borrowing on securities,
and high interest rates, reached in 1929 an amount not since
15

SURVEY OF CURRENT BUSINESS

16

approached—the remaining service expenditures other than
rent were about the same proportion of the remaining consumption as in 1929 even in current-dollar terms.
From 1929 to 1955 the real volume of services other than
housing, expressed in 1947 prices, declined in relation to total
consumer purchases about as much as the current dollar
expenditures—from 25 percent to 22 percent. This constantdollar ratio has, however, shown a rather notable stability
in relation to total goods and services ever since 1936, coming, in round numbers, to 22 or 23 percent in each year except
1941, its low point.
Personal Consumption Expenditures for
Commodities and Services
B I L L I O N S OF DOLLARS
150

NONDURABLE

GOODS

May 19o<

commodities. The strength of the uptrend in servici
expenditures during the postwar years operated also towarc
diminishing the response of service expenditures to short
term variations in the course of disposable income.
The sharp rise in incomes and commodity prices following
the invasion of South Korea temporarily set back tin
movement in the direction of closing the gap betweei
service expenditures and prices, on the one hand, and dis
posable income, commodity prices, and expenditures fo:
commodities, on the other. More generally, as a result o
the relative steadiness of their postwar advance the propor
tion of services in total consumption increased markedly ii
years when income rose but little; and increased less or, ai
in 1955, declined when income rose sharply; the converse, o
course, was true of commodities.
By 1955 a clear gap from prewar experience, at least a*
represented by 1929, no longer existed in the importance o
service expenditures other than housing in total consumption
Housing expenditures were still low, but only in current
dollar terms. There is, of course, no presumption that 1921
proportions are necessarily indicative of those which ma^
become typical in a future situation.

COMPOSITION OF POSTWAR GROWTH

100

Inasmuch as the aggregate of personal consumption expenditures for services is the composite of a myriad of differ
ent categories of expenditure, it would not be surprising i
the near-constancy of its year-to-year advance since 194^
had resulted from the compensating effects of irregula:
movements in the individual series. In considerable measure
this was, indeed, the case. At least equally important
however, has been the sustained upsweep of major categories
which largely dominate the movement of the total.
Table 2 shows service expenditures, and the yearly increase
in expenditures, reclassified to facilitate examination of the
sources of the steady advance in service expenditures anc
the areas of the economy upon which they have had ar
impact.

50

T*T* i
1930

i i i i i i i i i i i i i i i i i i

35

40

45

50

55

Services related to housing and durable goods

® First quarter 1956, seasonally adjusted, at annual rates
U. S. Department of Commerce, Office of Business Economics

56 - 1 8 - 8

While personal consumption expenditures for services are
relatively resistant to small and short declines in disposable
income, in the major drop from 1929 to 1933 they fell by as
much as 36 percent, as compared with 45 percent for commodities. In the brief but sharp 1938 recession they were
reduced fractionally. In 1949 and 1954, when year-to-year
increases in disposable income were small, the rise in service
expenditures, though substantial, was less than in other
postwar years.
In the case of certain service items there appears to be a
lagging response to income declines. This may arise, in
addition to more specific factors, either because commitments
are made in advance which are not readily broken—as in the
case of leases, or of school or hospital budgets prepared for a
year ahead—or because the service expenditure represents a
relatively small outlay necessary for the continued use of
comparatively costly consumer commodities—as in the case
of utilities.

Postwar advance in part a delayed reaction
Against this background the steep advance in dollar
service expenditures since 1947 appears, in broad terms, as
a slow reaction to the upsweep in incomes and prices from
1941 to 1947, and to wartime restrictions on residential construction, superimposed upon the response to currently
advancing incomes. In particular, the steep slope of the rise
 a catching-up of the prices of services with those of
reflects


Housing alone accounts for one-third of the services total—
nearly $30 billion in 1954, the most recent date for whicl
detailed estimates of personal consumption expenditure
required for the derivation of table 2 are now available
In that year rent payments on tenant-occupied quarters
including hotel and similar accommodations, together witt
actual monetary ownership expenses involving purchases oi
goods or services by home owners absorbed over $17 billion
An additional $12^ billion consisted of property taxes
depreciation, and imputed net rent on owner-occupied
dwellings, including farm houses.
Some $4 billion, or 5 percent of all service expenditures
went for repairs and maintenance of consumer durables
including automobiles. Payments for electricity, gas, water,
telephone, and other communications—expenses closely
related to home occupancy and, in the case of electricity and
gas, also to the use of consumer durables—absorbed nearly
$9 billion, or one-tenth of the total.
In all, one-half of the service expenditure total in 1954
represented housing services and expenditures associated
with the operation of houses and consumer durables. As
such, their growth has been closely related to the continuous
increase of households and dwelling units, and of consumer
holdings of durable commodities. The 143 percent increase
from 1945 in these types of expenditures compares with
increases of 114 percent for all services combined and 94
percent for total personal consumption.
Year-to-year
increases in this half of the service total have varied from $2.3
to $3.3 billion.

SURVEY OF CURRENT BUSINESS

May 1056

It may be noted that taxes, depreciation, and imputed net
rent on owner-occupied homes accounted for about oneseventh of both the 1954 services total and the increase in
the total from 1945 to 1954.

Services competitive with commodities
In contrast to these groups, consumer expenditures for
local and intercity transportation fares have been affected
unfavorably by the growing reliance of travelers upon automobile transportation. Competition from the use of home
appliances, by lightening the burden of household chores,
has been a retarding factor in tile advance of consumer
spending for the care of clothing—especially for commercial
laundering services—and for domestic servants. While
other influences have also been important—particularly the
limited availability of qualified household help—it is notable
that the postwar advance in all 3 of these groups, which in
varying degrees are competitive with rather than comple-

Expenditures for Services as a Percent of
Total Personal Consumption Expenditures
Based upon current and constant (1947) dollars
PERCENT
50

ALL SERVICES

CURRENT DOLLARS
40

•••-../

30

Ijj

I I I I »

t

'^

i i I I I I I I I I I I I I I i I i

I I

40

SERVICES EXCLUDING HOUSING

30

CURRENT DOLLARS

20
CONSTANT (1947) DOLLARS

10

I

1930

35

40

U. S. Department of Commerce. Office of Business Economics




45

mentary to the use of consumer durables, has been much
less than in consumer expenditures as a whole.
Year-to-year changes in these classifications have been
irregular, with some declines occurring and cyclical
influences evident. The 3 together, however, accounted
for only about one-tenth of total service expenditures in
1954.

Financial services
In addition to the service groups associated with housing
and the use of consumer durables, 3 large categories—
financial, institutional and professional services—which
together account for more than three-tenths of the total
have moved consistently, and strongly, upward throughout
the postwar years.
Among these, the largest and, in the postwar period,
fastest growing encompasses the costs of providing banking,
insurance, brokerage, and other financial services to individuals, and of interest paid on consumer debt and brokers'
loans. It does not include mortgage interest or insurance
on residences, which are covered by housing expenditures.
A substantial part of the value of the services in this
group is not matched by equal dollar outlays by individuals
for the service as such but rather represents the costs of
insurance, banking, and saving institutions1 in providing
financial and related services to individuals. The operation of these insurance and financial institutions has been
characterized by rather steady growth in the postwar period.
The "insurance, lending, and other financial services77
group as a whole has risen substantially in each postwar
year, with a total advance of 193 percent from 1945 to 1954.
Year-to-year increases have varied from $0.6 billion to as
much as $1.5 billion, with much of the variation due to the
irregular rise in consumer interest payments, which increased
especially sharply in 1950 and 1953, as well as in 1955.

Institutions and professions

.** ••. v ^•••••*

CONSTANT (1947) DOLLARS

20

17

I I I I I I

50

55
56-18-9

The current expenditures of private hospitals, schools,
churches, clubs, unions, and social welfare and other institutions, wilieh in 1954 amounted to $9% billion or almost oneninth of the services total, increased by $0.4 to $0.7 billion
a year in the period from 1945 to 1954—a total of 129
percent over the period. These institutions are consolidated
with individuals in the personal sector of the national
accounts; it is their current-account expenses, rather than
their receipts from individuals in the form of contributions,
dues, fees, and other charges which enter into personal
consumption expenditures. While mainly financed by such
receipts, many of these organizations also obtain funds from
endowment income, and from contributions by corporations
and governmental units.2 Fluctuations in their receipts
from individuals and other sources are to some extent cushioned by their ability—usually within rather narrow limits—
to carry over funds from one year to another, and to borrow.
Total private contributions to philanthropy in 1954, as
estimated by F. Emerson Andrews of the Russell Sage Foundation, amounted to approximately $5.4 billion—about twothirds more than in 1945. Rough data suggest that perhaps
half of these contributions go to religious organizations and
one-fifth to one-fourth to welfare agencies. Both of these
groups are mainly dependent on private giving, as distinguished from dues, fees, or other sources of income upon
which most other types of nonprofit organizations rely
1. See National Income, 1954 edition, pp. 46-48 for a description of the treatment of these
items in national income accounting.
2. In addition, receipts from sales of meals separately charged for, which are classified as
consumer commodities, and from room rentals and admissions to athletic events, etc., which
are classified in the housing or recreational service groups, are omitted from the total for this
category in table 2. Food provided by nonprofit hospitals is included.

18

SUEVEY OF CURRENT BUSINESS

heavily. Though mainly from individuals, about 7 percent
of private contributions come from corporations. These rose
from $58 million in 1941 to $400 million in 1954. Approximately two-fifths of contributions received by Community
Chests in 1955 came from corporations and other business
firms.
Payments for the services of lawyers, the various independent curative professions, and veterinarians also increased
regularly in the postwar years—somewhat more rapidly in
the immediate postwar period, when professional persons
were being released from the armed services, than more
recently. From 1945 to 1954 expenditures for the services
of independent professionals increased by about the same
percentage as total personal consumption expenditures.

Consumer Expenditures for Utilities
MILLIONS OF DOLLARS (ratio scale)
4,000
3,000

-

May 195(3

for particular industries; frequently they are not even the
major source. For example, lawyers in independent practice derive about half and veterinarians two-thirds of then
gross receipts from business; consumer expenditures represent
only a portion of intercity passenger fares and, in the case
of the railroads, only a small fraction of total revenues.
Among the categories of table 2, only the repair and care oi
consumer durables and of clothing and the "other services'1
consist predominantly of expenditures at commerical service
establishments in the narrowest sense, or at retail establishments providing similar services as a secondary activity
(e. g., watch repair by jewelry stores). These groups accounted for $13% billion, or 16 percent, of total service expenditures in 1954. Expenditures for these groups were 77
percent above 1945 and only 28 percent above 1947—much
less than total consumer spending. While generally upward, the course of these expenditures was not, moreover,
more regular than that of total consumer spending. It is
noteworthy that national income originating in the industries
most affected—personal services, motion pictures, and other
amusements—has risen less proportionately since 1945 than
in the private economy as a whole; the same is true of
employment.
Several of the important groupings of table 2—utilities and
communications; insurance, lending, etc.; purchased transportation; and services of independent professionals—were
set up in accordance with the industry groups providing the
services involved, which are self-evident from the titles.
Their postwar trends, which in the first 2 groups were particularly strong, and in the third rather weak, have already
been indicated.

Purchases outside usual business channels

1

I I

I

1 I

1 1 1 1 1 1

1

I

1 1 l 1 I

1 I

1 I

1 I

U. S. Department of Commerce, Office of Business Economics

Other categories
Of the 2 remaining service groups, one—expenditures and
remittances abroad—lias risen very sharply from a warreduced level in 1945, while the "other services" category
showed a much less than average rise of 44 percent from 1945
to 1954, and half of even that increase had occurred by 1947.
This group consists of admissions and charges for commercial
amusements, and of barber and beauty shop services, burial
and death expenses, and a few miscellaneous service items.

INDUSTRY IMPACT OF SERVICE ADVANCE
Much more than is the case with commodities, the sectors
of the economy mainly affected by the course of service
expenditures are those which deal directly with the consumer; that is to say, the ratio of value added to gross value
of product is typically high in the provision of consumer
services. The classification utilized in table 2 is fairly
appropriate for identifying these sectors.
It should be stressed, however, that in few cases do receipts from consumers represent the only source of income



The remaining service groups cover expenditures which do
not represent primarily purchases from domestic business
enterprises of the usual types.
The direct impact of rising institutional expenditures,
while involving sizable purchases of goods and services from
business enterprises, was in major part on the payrolls of
these organizations themselves. From 1945 to 1954 the compensation of employees of nonprofit organizations increased,
by quite steady dollar increments, some 161 percent—much
more than in the private economy as a whole; their employment, computed on a full-time equivalent basis, had reached
1.7 million by 1954. Growth of these activities has also been
responsible for sizable investment outlays; construction,
alone, of private hospitals, educational and religious buildings, and other institutional structures is currently running
well over $2 billion a year.
Expenditures for domestic service, also affecting employment and payrolls outside the business sector, have risen
relatively little in the postwar period. The sharp increase in
expenditures and remittances abroad includes fares paid to
United States international air and ship lines, but otherwise
has affected American business only indirectly. Developments in this field will be reviewed in detail in next month's
SURVEY.
Of the nearly $30 billion of personal consumption expenditures for housing in 1954, about $27 billion consisted of the
space rental value (i. e., rent less the cost of facilities and
utilities included in rent) of tenant-occupied and owneroccupied nonfarm dwellings. The disposition of the comparable space rental amount for 1952 may be computed
from estimates published in the June 1953 SURVEY, as follows:
taxes, 21 percent; depreciation, 13 percent; interest, 13
percent; maintenance and repair, 17 percent; insurance and
miscellaneous expenses, 7 percent; and net rent, 29 percent.
Of the net rent figure, something over one-third represented

SURVEY OF CUERENT BUSINESS

2Hav 1056

monetary income from tenant-occupied houses and nearly
two-thirds imputed income.
From these estimates it is apparent that the sharp rise in
personal consumption expenditures for housing was largely
absorbed in the gross value added to product in the real
estate industry—construed broadly, as in the national
income accounts, to include the operation of both tenantoccupied and owner-occupied houses. An important amount
went, along with expenditures for modernization and enlargement, to swell the "fix-up" market for building supplies and
labor.

SERVICE EXPENDITURES BY TYPE
The remainder of this article discusses in greater detail
developments in the more important of the service components. The classification of expenditures followed is that
summarized in table 1, and presented in much greater detail
in table 30 of National Income, 1954 edition, and the July
1955 SURVEY.

Clothing and personal care
Outlays for clothing services, consisting principally of
cleaning and pressing, laundering, and shoe repair, and for
personal care—services of barber shops, beauty parlors, and
baths—have increased less than total personal consumption
expenditures in the postwar period.
The cleaning and pressing item covers also dyeing, alteration, and repair of garments (including furs) and, like
laundering, includes the care of such household accessories as
draperies or linen. While in 1929 outlays for these 2 services
were about equal, by 1955 consumer expenditures for cleaning
and pressing were about 85 percent greater than for laundering. If allowance is made for greater cyclical variability in

Intercity Revenue Passenger-Miles, by
Type of Carrier
BILLIONS OF MILES
30
-RAIL COACH

BUS

20

10

RAILWAY PARLOR
SLEEPING CAR

® Est. QBE
I
1947

48

49

50

51

52

53

1

54

55

DATA: ICC 8 CAB
U. S. Department of Commerce, Office of Business Economics




19

cleaning and dyeing during the thirties, it has shown a
stronger trend than laundering ever since 1929; even
so, since 1947 the increase has been less than in total
consumption.
Expansion in the use of home laundry equipment, evident
in the thirties and accentuated in the postwar period as
ownership of automatic washers and dryers became widespread and home ownership more general, has adversely
affected the demand for laundering outside the home. To
the limited increase which has occurred, receipts of selfservice laundries have contributed importantly, in recent
years reaching about one-seventh of consumer expenditures
for laundry services; diaper service has also increased. A
small but growing share of laundry work is being done by
dry cleaning establishments, while cleaning is becoming more
important as a source of revenue for power laundries.
Services of barber shops, beauty parlors and baths have
risen less since 1929, and particularly since 1945, than most
other services although there is some evidence of improvement in the last 3 years. The introduction and rather
extensive use of home permanents contributed to the slow
rate of growth in the postwar period.
On a per capita basis, the growth since 1947 in expenditures for laundering, barber shop and beauty parlor services,
and shoe repairs has been less than the increase in prices,
indicating that real per capita consumption has decreased.
The relative weakness of consumer expenditures in this
area was accompanied by an almost continual decline in
employment in the personal service industry after 1947.

Housing
Rents, as previously noted, currently absorb less of each
dollar spent by consumers than in 1929, but since 1947 the
proportion has been rising. The advance since 1947 has
been most pronounced in the rental value of owner-occupied
homes. The number of owner-occupied homes rose 30
percent from 1947 to 1955, while the number of rental
dwellings rose about 23 percent. The quality of the housing
stock was also improved. During this period the Bureau
of Labor Statistics index of rental rates increased 38 percent.
A detailed review of developments in the field of rent was
contained in the June 1953 SURVEY.
In addition to nonfarm housing, personal consumption
expenditures for housing include the rental value of farm
houses—both owner and tenant occupied—and a miscellaneous "other" group composed of hotels, tourist courts, and
clubs, schools, and institutions. With the number of farm
dwellings declining substantially, the increase in farm rents
since 1947, though sizable, has been less than in the nonfarm
component. 7
Consumers payments for room rental at hotels, tourist
courts, and clubs, schools, and institutions in 1955 were about
4 times as high as in 1929, with almost nine-tenths of the
increase occurring after 1945. Expenditures for rooms in
tourist courts and motels contributed most to this rise, their
advance having been made possible by a major expansion of
facilities. The rise in the hotel portion of almost 165 percent
since 1945 was occasioned principally by the rise in room
receipts of seasonal hotels from a very low level of activity
in 1945.
The growth in consumer expenditures for rooms in hotels
and tourist courts taken alone do not indicate economic
conditions within the industry. Although most of the room
receipts of seasonal hotels and tourist courts are received from
consumers, this is not the case in year-round hotels. The
percentage of rooms occupied in year-round hotels declined
persistently (after 1946) but room receipts rose by one-half

SURVEY OF CURRENT BUSINESS

20

over the 1945-55 period, mainly because of rate increases.
Meal and beverage sales account for a large part of total
hotel sales. In year-round hotels receipts from meals and
beverages have shown much less growth than room receipts.

Household operation
Outlays for household utilities, including electricity, gas,
water, and telephone service, currently comprise about twothirds of household operation services. All exhibit substantial long-term growth trends arid, in the postwar period,
have risen more than disposable income.
The number of residential telephones in use increased
almost 75 percent from 1947 to 1955, while the number of
residential customers for electricity and gas rose 43 and 32
percent, respectively. During this expansion, the prices of
these services as a group rose considerably less than the
general average of consumer prices.
Data collected by the Edison Electric Institute show thatmore than 120 billion kilowatt hours of electricity were purchased by residential users in 1955. This represents about
25 percent of total energy sales to ultimate customers by the
industry and is greater than the comparable figure for sales
to all classes of customers in 1940. Since 1943 residential
sales have been growing at a faster rate than sales to other
classes of customers—having increased 321 percent by 1955
compared to 129 percent for sales to all other customers.
Similarly, revenues from residential sales have grown at a
faster rate than those from other sales and in 1955 accounted
for 40 percent of the total.
The tremendous growth in the use of home electrical
appliances has resulted in increased consumption per
customer and lower average cost per unit of electricity consumed. Because of this lower unit cost, consumption of
electricity has increased more than is reflected in currentdollar data. In the 1947-55 period the average number of
kilowatt hours used per residential customer rose 91 percent
while the average annual bill increased from $44.43 to
$72.63 or 63 percent. This means that the cost per kilowatt
hour used declined 15 percent, although the price of electricity,
a component of the Bureau of Labor Statistics Consumer
Price Index, increased about 7 percent over this period.
The decrease in cost in spite of the increase in price reflects
mainly the fact that, within specified limits, as more electricity is used per customer the unit cost declines.

May

Consumption of gas has similarly shown notable expansion.
The increase of 32 percent in the number of residential gas
customers between 1947 and 1955 was accompanied by a
rise of about 66 percent in the average amount of gas used
per customer and an increase of 6 percent in the unit cost of
gas consumed. The rise in gas consumption per customer is
largely due to the increase in the number of homes which use
gas for house heating. Since 1949 the number using gas for
this purpose has more than doubled. The growth in the
share of the market for house heating which is met by gas
has added to the total of service expenditures as compared
with the commodity total.
Expenditures for telephone service more than doubled in
the 1947-55 period, while the percentage of households having telephones grew from 55 percent to more than 70 percent.
Local telephone service, which represents the bulk of consumer expenditures for telephone service, has increased more
in price than electricity or gas.
About $3 billion is currently spent for household help,
including the value of food furnished in kind. Expenditures
in 1955 were only 85 percent more than in 1929 and 35 percent more than in 1947. Use of domestic service, as indicated
by employment data, declined by more than one-fourth from
1929 to 1955, and in the latter year was only slightly higher
than in 1945 or 1947; however, it still represented one-fourth
of all persons employed in the service industries proper.
Domestic servants experienced a smaller increase in average
pay during these periods than employees in other service
industries.
About 11 percent of household operation services is composed of a group of miscellaneous items including the repair
of household goods, postage and express charges, fire and
theft insurance, and moving expenses and warehousing.
These items have shown notable growth since both 1929 and
1947 with the repair of household items, which amounted to
nearly $600 million in 1955, accounting for most of the rise.

Medical care
Perspective on personal expenditures for medical care
service is enhanced by considering them in the framework of
the Nation's total medical care expenditures, including both
services and commodities.
It is estimated that, aside fro.ni construction costs and expenditures by industry, about $14 billion was spent from

Table 1.—Personal Consumption Expenditures for Services, by Major Expenditure Categories, for Selected Years
[Billions of dollars]
Percent change

1929

1933

1937

1941

1944

1945

1946

1947

1948

1949

1950

1951

1952

1953

1954

1955

1929 to
1955

..

1

1945 to J 1947 to
1955 i 1955

32.1

20.7

25.1

29.0

37.7

40.4

46.2

51.3

56.7

60.1

65.0

70.1

75.7

81.8

86.4

91.2

184

126

78

1.3
.5
11.4
4.0

.6
.3
7.9
2.8

.9
.5
8.4
3.7

1.2
.6
10.0
4.3

1.8
.8
11.9
5.9

2.0
.9
12.4
6.4

2.5
1.0
13.6
6.7

2.7
1.0
15.4
7.4

2.8
1.0
17.5
8.0

2.8
1.0
19.4
8.5

2.8
1.0
21.4
9.4

3.0
1.1
23.4
10.3

3.1
1.1
25.6
11.1

3.2
1.2
27.9
12,1

3.2
1.3
29.8
12.6

3.2
1.4
31.2
13.6

153
167

60
56

237

112

19
39
102
85

Medical care and death expenses
Personal business
Transportation
Recreation
_
__ _ _

2.8
5.1
2.6
1.7

1.9
2.9
1 5
11

2.5
3. 7
2.0
1.6

2.9
3.9
2.4
1.8

4.0
4.1
3.7
2.7

4.3
4.4
4.0
3.0

5.2
5.0
5.1
3.7

6.0
5.7
5. 5
3.8

6.5
6.6
5.9
3.8

6.9
7.1
5.8
3.9

7. 4
8.2
5.8
3.9

7.8
8.7
6.4
4.1

8.4
9.4
6.8
4.2

9.0
10.6
7.3
4.4

9.6
11.4
7.3
4.6

10.1
12.5
7.4
4.9

260
146
189
189

137
182
84
64

69
119
35
29

Private education and research _ Religious and welfare activities
Expenditures and remittances abroad
Adjustment for foreigners' expenditures in the
United States
....__

.7
1.2
.9
i

5
9
4

.6
.9
.6

i!i

.3

1.0
1.7
.4

1.0
1.7
.4

1.2
1.9
.7

1.4
2.0
.8

1.6
2.3
.9

1.8
2.3
1.0

2.0
2.5
1. 1

2.1
2.6
1.1

2.3
2.9
1.3

2.4
3.0
1.4

2.6
3.2
1.4

2.8
3.4
1.5

322
184
63 '

187
96
249

98
67
96

-.1

-.1

-.2

-.2

-.3

-.4

-.3

-.4

-.5

-.6

-.6

-.6

-.7

393 •

245

85

79.0

46.4

67.3

81.9

109.8

121.7

146.6

165.0

177.6

180.6

194.0

208. 3

218.3

230.6

236.5

252.3

220

107

53

83.1

45.7

71.0

93.0

146.8

150.4

159.2

169.0

187.6

188.2

206.1

226.1

236.7

250.4

254.8

269.3

224

79

59

Total services
Clothing, accessories, and jewelry
Personal care
-Housing
Household operation

- - --

Addendum:
Total personal consumption expenditures
Disposable personal income

Source: U. S. Department of Commerce, Office of Business Economics.




173

:

151

SURVEY OF CURRENT BUSINESS

May 19HO

public and private funds for health and medical care supplied
the civilian population in 1954. Of this amount consumer
expenditures represented about 76 percent and Government
expenditures 24 percent. The Government portion—covering Federal, State and local expenditures, inclusive of veterans, maternal and child health care, and research—had
grown from 12 percent in 1929 and 19 percent in 1947.
Services accounted for $8.4 billion of the $10.6 billion
spent by consumers in 1954 for medical care. Of total consumer expenditures in this area, privately controlled hospitals and physicians' services comprised 54 percent; administrative and other net costs of medical care and insurance,
including accident and health insurance, 10 percent; dentists'
services, 9 percent; and other professional services, 6 percent.
Commodities accounted for the remaining 21 percent. The
service total described here differs from that shown in table 1
for 1954 in that it does not include $1.2 billion for funeral and
burial expenses.
Expenditures for physicians' services tripled and those for
dentists' services doubled from 1929 to 1954, with something
under half of the increase in each case occurring after 1947.
Both the overall increase and the postwar increase in physicians' services differed but little from the percentage change
in total consumer expenditures, while the advances in expenditures for dental services were much smaller in each
period. The series on expenditures for physicians' services
currently represents approximately nine-tenths, and that for
dentists nearly all, of the total gross income received by
physicians or dentists from independent practice.
The Census of Population reported a decline in the numbers of doctors and dentists in independent practice between
1940 and 1950, although the number in salaried work and
the total numbers increased.
Total operating expenses of all hospitals, as reported by
the American Hospital Association, amounted to $5.2 billion
for the year ending September 30, 1954, with the total about
equally divided between governmental (including military)
hospitals and nongovernmental hospitals; only the latter are
included in personal consumption expenditures.
Privately controlled hospitals, which have 30 percent of
the total bed capacity, are for the most part nonprofit and
are principally devoted to the care of illnesses requiring
short-term hospitalization. Long-term care, such as is required for nervous and mental cases, and tuberculosis, is
provided mainly by Government hospitals.
Data on personal consumption expenditures for privately
controlled hospitals and sanitariums measure the sum of the

21

operating expenses (including depreciation) of nonprofit
hospitals and payments by patients to proprietary hospitals;
they differ little from operating expenses (including depreciation) of all private hospitals.
The hospital care item has shown one of the strongest
trends among all the large items of consumer expenditures.
It has increased more than any of the other medical care
services since 1929, and by 1954 was 600 percent above 1929
and double the 1947 level.
Patient income (including amounts paid by insurance
plans) equaled 90 percent of the income of nonprofit shortterm general and special hospitals in 1954—the remainder
coming from gifts and bequests, and from grants, including
Government payments.
The number of admissions to nonprofit short-term general
and special hospitals increased from 10.9 million in 1947 to
13.5 million in 1954 and the average length of stay declined
from 8.1 to 7.5 days. The expense per patient day rose
93 percent and reached nearly $23 in 1954 as compared to
almost $12 in 1947. However, because the average length
of stay had declined, the expenditure per patient stay
showed less of an increase—79 percent. During this period,
a constantly rising percentage of hospital bills were met by
insurance.
Personal consumption expenditures for medical care and
death expenses include the net costs of medical care insurance,
as measured by the excess of insurance premiums paid over
the total benefits received by the insured. This excess
represents mainly the administrative costs of the insurance
programs and covers some services rendered by physicians
in prepayment medical service plans. It covers voluntary
private insurance against medical care costs and income
loss due to illness provided by commercial plans, Blue Cross,
Blue Shield, and other nonprofit plans, and private group
clinics with prepayment plans. Total subscription charges
or premiums earned amounted to $3.8 billion, while benefits
paid reached $2.8 billion in 1954. Of the benefits $2.2
billion were for medical care (about two-thirds for hospitals
and one-third for physicians' services) and $0.6 billion for
income loss. It is estimated that in 1954 slightly less than
half of hospital receipts from patients and about one-quarter
of physicians' receipts from patients were covered by
insurance.
Medical care insurance has expanded greatly in the postwar years, and the net claims series represents one of the
most rapidly rising components of personal consumption
expenditures.

Table 2.—Postwar Growth of Personal Consumption Expenditures for Services, by Major Sources
[Billions of dollars]
Change from preceding year

Expenditures
1945

Total services

1946

1947

1948

1949

1950

1951

1952

1953 | 1954

1946

1947

1948

1949

1950

40.4

1951 ! 1952

1953

1954

46.2

51.3

56.7

60.1

65.0

70.1

75.7

81.8 | 86.4

5.9

5.1

5.4

3.5

4.9

5.1

5.5

6.2

Monetary housing expenditures
Taxes, depreciation, and imputed net rent on owner-occupied
homes
Utilities and communications _ ...
Repair and maintenance of consumer durables

7.0

8.2

9.8

11.1

12.0

13.1

14.1

15.3

16.4 17.2

1.2

1.6

1.4

.9

1.1

1.0

1.2

1.1

.8

5 4
3.8
1.4

5.4
4.0
2.3

5.7
4.4
2.7

6.4
4.9
3.0

7.4
5.3
2.9

8.3
5.9
3.1

9.2
6.6
3.5

10.3
7.3
3.8

11.5
8. 1
4.1

12.6
8. 7
4.3

.0
2

.7
5
3

1.0
.4
.0

.8
.6
.2

1.0

1.2

1. 1

!3

.2
'.4
.3

.3

!i

Care of clothing
Purchased transportation.. _
Domestic service
Insurance, lending and other financial services

1.9
2.9
2.1
4.1

2.3
3.1
2.1
4.9

2.5
3.1
2.3
5.6

2.6
3.2
2.4
6.5

2.6
3.1
2.4
7.0

2 7
3.'o
2.7
8.2

2.8
3.2
2.8
8.7

2 9
3^3
2.9
9.6

3.0
3. 4
3.1
11.1

3.0
3. 2
2.8
12.1

.4
.2
.0
.8

.2
.0
.2
.7

1
1
0
9

.0
.0
.0
.6

.0
.0
.3
1.1

.1

Expenditures of schools, hospitals, clubs and institutions
Services of independent professionals
Expenditures and remittances abroad
Other services (largely from commercial service establishments) -

4.1
3.0
.4
4.4

4.7
3.6
.7
5.2

5.4
4.1
.8
5.4

6.1
4.5
.9
5.4

6.5
4.7
1.0
5.5

7.1
4.9
1.1
5.5

7.6
5.1
1.1
5.7

8.3
5.3
1.3
5.9

9.4
5.8
1.4
6. 3

.6
.6
.3
.8

'.4
.1
.2

6
4
1
1

.4
.2
.1
.0

.6
.2
.1
.0

.6

:l
.2

-.3

4
•^

-.3

-.4

-.4

-.5

-.6

-.6

-.1

— .1

.0

.0

.0

.0

Adjustment for foreigners' expenditures in the United States--

Source: U. S. Department of Commerce, Office of Business Economics.




8.8
5.6
1.4
6. 1 i
-.6

'.4

'.2
.6

",
•
•\

:i

.::

.1
.0
.2
1.5

4.5

.0

—.i

__ 2
LO

.5
.3
.1
.2

.1
.3

.0

.0

.6

22

SURVEY OF CURRENT BUSINESS

Personal business
The personal business group increased more between 1947
and 1955 than any other major service group. Conversely,
between 1929 and 1947 the group had increased less than
any other group except the foreign travel item, which declined. Although during the earlier period the group total
was affected by the drastic drop in brokerage charges from
the 1929 level of $1.7 billion, even when brokerage charges
are excluded the group increased less than all others except
housing.
Almost 75 percent of the group in 1954 was comprised of
interest on personal debt ($3 billion), services furnished
without payment by financial intermediaries, except life
insurance companies ($2.9 billion), and the expense of
handling life insurance ($2.6 billion). The remainder was
made up of legal services ($1 billion), brokerage charges and
interest and investment counseling ($0.6 billion), bank service charges, trust services, and safe deposit box rental
($0.5 billion), and a miscellaneous group ($0.7 billion).
The latter item includes net payments to labor unions,
employment agency fees, payments to professional associations, money order fees, classified advertisements, etc.
Interest on personal debt, which represents nonmortgage
interest, more than tripled between 1947 and 1954, a period
of considerable expansion in consumer credit, and increased
sharply in 1955. Almost 95 percent of the interest item is
currently composed of interest on installment credit held by
financial institutions and automobile dealers, and single
payment loans.
The expense of handling life insurance increased by approximately 25 percent from 1929 to 1945 and by 136 percent
from 1945 to 1954. During the entire period the dollar value
of life insurance in force more than tripled—almost fourfifths of the increase occurring after 1945. Operating expenses were also affected by the rise in general price and
salary levels, and by the increase in new business, which
involves commissions and other special costs. Sales of life
insurance by United States companies reached almost $52
billion in 1954 as compared to less than $16 billion in 1945
and almost $18 billion in 1929.
The expenses of banks and savings institutions in providing
services, with or without explicit charges, to individual
depositors increased 90 percent between 1947 and 1954 and
accounted for about 30 percent of the personal business
group in the latter year. Explicit service and other charges
account for a larger part of this total than in 1929.
Expenditures for personal legal services increased by more
than 150 percent in the 1929-54 period, almost three-fifths
of the rise having occurred after 1947. Like service expenditures as a whole, they have increased less than disposable
income or total consumer expenditures since 1929, but more
since 1947.

Transportation
The composition of service expenditures in the transportation field has changed markedly over the past quarter
century, as services related to the operation of automobiles
have outstripped passenger fares on public carriers. In
1954, consumer expenditures for automobile servicing, repair,
and parking, automobile insurance (premiums minus claims),
and tolls reached an estimated $4 billion, an amount almost
4)2 times that spent in 1929 and almost two-thirds greater
than in 1947. The expenditure for these services in 1954 was
one-fourth more than individual consumers spent on all
purchased local and intercity transportation. In 1929, in
contrast, consumers spent four-fifths more for purchased
transportation than for these services.



May 1956

Dollar consumer outlay for purchased intercity transportation amounted to $1.1 billion in 1954, somewhat more thai]
double 1929. Expenditures for railroad transportation
(excluding commutation) and sleeping and parlor cars had
increased only 5 percent over this quarter century, while
those for airline travel, which was in its infancy in 1929,
and for bus transportation had risen very sharply.
Since the World War II period—when, with gasoline rationing in effect, expenditures for all forms of local and intercity transportation except railwa}^ commutation reached unprecedented amounts—expenditures for railroad travel have
fluctuated, but remained continually below wartime levels.
From 1952 to 1954 expenditures both for railroad travel and
for bus fares (which until that time had held fairly close to
the wartime peak) declined considerably. Preliminary estimates indicate that expenditures for bus transportation continued the downward trend in 1955, but those for railroad
transportation rose slightly. Comparable data for airlines
show rapid increases from year to year throughout the postwar period.
Because of differential price movements, changes in the
type of carrier used for purchased intercity travel are even
more striking when viewed in terms of revenue passengermiles, which are shown in the accompanying chart. It
should be pointed out that the data charted pertain to total
passenger-miles, including business and Government as well
as consumer travel. Between 1947 and 1955 revenue passenger-miles of scheduled airlines increased 220 percent.
Comparable figures for railroad coach travel (excluding
commutation) show a decline of 37 percent, for parlor anel
sleeping cars of 47 percent, and for buses an estimated 34
percent. Much of the growth in airline passenger-miles in
this period has been in the air coach service, which in 1955
accounted for more than one-third of the industry total.
Expenditures for purchased local transportation continued
to rise in the immediate postwar period and have shown little
change in the last several years. Railway commutation
revenues have increased markedly throughout this period
while passenger revenues of taxicabs and street and electric
railways and local buses have been relatively stable. The
number of revenue passengers of street and electric railways
and local buses declined by about one-half between 1947 and
1955, while the average cash fare rose by 80 percent. Taxicabs have experienced a smaller decline in the number of
passengers, and this has been offset in their revenues by
longer trips and increased rates.

Recreation

Expenditures for recreational services increased sharply
during and immediately after World War II but since have
experienced a less-than-average growth. The recreation
group in table 1 is somewhat narrowly defined in that it does
not include amounts ^pent for vacation travel or certain
other items which are often considered as recreation expenditures but here are classified elsewhere.
The relatively small increase in recreation expenditures
since 1947 has been due mainly to the postwar decline in
motion picture theater admissions, which are the largest
single service item in the group. Recreation services excluding motion .picture theaters rose more than total
consumption expenditures between 1947 and 1955; radio
and television repair were particularly important in this
movement.
Shifts in consumer demand within the recreation area are
indicated in the expenditure data. Motion picture theater
admissions reached a peak of $1.7 billion in 1946, almost 2%
times the amount spent in 1929. A steady decline through
1953 followed by a rise in 1954 and 1955 had reduced these
expenditures almost 25 percent. The decline in motion

SURVEY OF CURRENT BUSINESS

May 1956

picture attendance since 1946 was greater than the drop in
box office receipts, since the index of admission prices had
risen 30 percent by 1955. Combined admissions to legitimate theaters, operas, and concerts, and entertainments of
nonprofit institutions have increased moderately in postwar
years.
Consumer Expenditures for Selected
Recreational Services
MILLIONS OF DOLLARS (ratio scale)
3,000
2,000

events numbered about 38.5 million and approximately
$2.6 billion was wagered through pari-mutuel machines—a
billion dollars more than in 1949. Of the total amount
wagered through the machines in 1955, 80 percent was
placed at thoroughbred tracks, 18 percent at harness tracks
and 2 percent at county and State fairs.
Expenditures for commercial participant amusements,
i. e., at bowling alleys, billiard parlors, amusement devices
and parks, riding, skating, and swimming places, and the
like, doubled from 1929 to 1947 and, unlike admissions
receipts from most spectator sports, are estimated to have
shown a steady increase since that time.

Private education and research
MOTION PICTURE THEATERS

,000

800
600
500
400

300
200

100

80
60
50

SPECTATOR SPORTS

40
30

23

I I I
•
1930

I I

I I I I
•
35

I I I I I I I I I I
•
•
40
45

U. S. Department of Commerce, Office of Business Economics

i 1 i I
•
50

I I I I
•
55
56- 18 - 1 2

The data indicate that between 1929 and 1947 there was a
growing preference for spectator sports, particularly baseball,
professional football, and horse and dog racing. By 1947,
the amount spent for admissions to these amusements,
together with professional hockey, college football, and other
amateur spectator sports, was more than triple that in 1929.
Since 1947, on the other hand, these expenditures have been
rather stable in dollar terms. Major league baseball
attendance, which had more than doubled between 1929 and
1948 when it reached 21 % million, declined by one-third in
the 1948-53 period. In the last 2 years this downward
trend was reversed and in 1955 attendance recovered to 16.6
million. Minor league attendance, numbering 19 million
in 1955, has shown a continual decline from a high point of
42 million in 1949, when almost twice as many leagues were
operating. Professional football attendance, also affected
by a decline in the number of teams, dropped substantially
between 1947 and 1950, but has since improved annually.
Pari-mutuel net receipts—the amount of revenue retained
by the States and tracks from pari-mutuel wagering—
amounted to more than $425 million in 1955 and have increased more since 1929 than any other recreation item. As
more States have legalized racing and pari-mutuel betting,
an increasing number have levied pari-mutuel taxes. The
number now stands at 24, having doubled in the last 20
years. The amount wagered has not increased as much
proportionately as the net receipts from these operations.
The percentage "take" has been gradually increased by the
levying of higher taxes and by raising the amounts to which
breakage is calculated. In 1955 admissions to horse racing



Expenditures for private education and research in 1954
were almost 4 times those of 1929; of the increase about 85
percent occurred after 1945. Current expenditures by private elementary and secondary schools by 1954 were more
than 3 times, and by private institutions of higher education
2% times, as large as in 1945.
Expenditures by private institutions represent about onefifth of total public and private school expenditures—-about
12 percent at the elementary and secondary level and 44
percent at the college level. " The private higher education
sector has shown less growth since 1929, and particularly in
the postwar period, than the public sector. On the other
hand, at the elementary and secondary levels private school
expenditures have increased somewhat more than those of
public schools.
Enrollments in private elementary and secondary schools
increased from 2.9 million in the 1945-46 school year to 4.3
million in 1954-55. Over nine-tenths of these enrollments
are in church affiliated schools. Approximately one-eighth
of all pupils were enrolled in nonpublic schools in 1954-55,
as compared with one-ninth in 1945-46 and one-eleventh in
1930 and 1940. An increase of about one-fifth in total
(public and private) elementary and secondary enrollment
from 1954-55 to 1959-60 has been projected by the Office
of Education.
The 1.2 million students enrolled in private institutions of
higher education in the 1954-55 school year represent an
increase from 0.8 million in 1945-46. The 44 percent of total
higher education enrollment in private institutions during
the last school year compared with 50 percent in 1945-46.
An increase of nearly one-fourth in total higher education
enrollments has been projected by 1960 but, if the trend
toward a rising proportion in publicly controlled institutions
continues, the rise in private institutions would, of course,
be less.
Privately controlled institutions of higher education have
traditionally depended mainly on income from student fees,
endowments, and private gifts and grants. In 1951-52, the
latest school year for which such data are available, 47 percent of educational and general income of these institutions
was obtained from student fees, including 10 percent from
veterans' tuition and fees paid by the Federal Government.
An additional 16 percent received from the Federal Government was mainly for research. Endowment earnings supplied
11 percent, private benefactions 14 percent, and State and
local governments 4 percent. The remainder came from sales
and services of instructional departments and organized
activities, and incidental sources.
The percentage received from student fees had declined
from 53 percent in 1939-40. Greater relative declines in the
percentage received from endowments and gifts had occurred
during these years. On the other hand, the percentage received from the Federal Government had grown from less than
1 percent in the earlier period.

SURVEY OF CURRENT BUSINESS

24

In addition to expenditures of almost $2 billion in 1954
by private schools of the types discussed above, more than
$600 million was paid in fees to commercial, trade, and correspondence schools, and to teachers of dancing, music
and the like, or spent by foundations for education and research. The total.for these items has almost doubled since
1947, the greatest growth having occurred in the foundation
item.

Religious and welfare activities
Current operating expenditures of religious bodies and
private social welfare agencies are estimated at $3.4 billion
in 1955; they have risen less since 1929 but more since 1947
than total consumption. The largest portion of these
expenditures consists of the costs of religious organizations
for the operation and maintenance of churches, including
the salaries of ministers, janitors, secretaries, and other paid

Mav 195

personnel, and for the operation of home and foreign missions
It is estimated that religious organizations employ about OIK
quarter million persons (computed on a full-time equivalen
basis) and pa}7 close to $1 billion in wages and salaries.
Voluntary welfare agencies play a significant part in th
over-all social welfare picture. Most expenditures in thi
area are made by organizations which are local in character
such as community chest agencies. Outlays by the Ameri
can National Red Cross, the largest of the voluntary 7 nations
organizations, and the various foreign relief agencies
while still substantial, constituted a larger share of the tota
during and immediately after World War II than mor
recently.
Both religious and welfare agencies, unlike nonprofi
hospitals and educational institutions, are supported princi
pally by individuals' contributions, rather than payment
in the form of fees.

National Income and Product-—A Review of the First (Quarter
(Continued from p. 5}
workers in the durable goods industries. The latter was
due primarily to the reduction in automobile output. Further
advances in the primary metals and nonelectrical machinery industries offset a sizable part of this decline;
changes in the other hard goods industries were small.
Movements were also small in the nondurables industries,
with increases and decreases about equally prevalent.
In total, there was little change in manufacturing employment from the fourth quarter to the first. The length of the
workweek was reduced, although hours in some key industries remained at their advanced fourth quarter levels,
and the overall average still reflected a considerable amount
of overtime work. Average hourly earnings continued to
edge upward.
Government payrolls reflected a further moderate increase
in State and local payments for both school and nonschool
purposes. Federal payrolls remained stable.

Little change in proprietors' income
Total proprietors' and rental, income remained substantially unchanged in the opening quarter of the year,
with offsetting movements in the principal components.
Business and professional income increased' fractionally,
rising to a $28 billion annual rate, $1K billion higher than
in the first quarter of 1955. This increase has to a large
extent mirrored the rise in retail sales activity.
The net income of farm proprietors was lower than a year
ago. Income in this sector had shown a temporary rise in the
fourth quarter that was due largely to the fact that cotton
was marketed later than usual last year. This rise was reversed
in the first quarter as the total volume of marketings dropped
to a more normal rate. Prices of farm products edged upward in the opening 3 months of the year, but for the first
quarter as a whole averaged about the same as in the fourth.
The rise in transfer payments reflected continuing increases under the OASI and Korean war veterans' programs,
and an advance in State unemployment compensation payments. The increase in the latter was in part clue to the cutbacks in the automotive and related industries. The effect
of the rise in transfer payments on the personal income flow
was partly offset by increased contributions for social insur


ance. These reflect the initial payments under the extend ec
OASI coverage, enacted iast year, for self-employed persons.

Uptrend in profits
Corporate profits data for the final quarter of last yea]
have now become available. They show a continued advance
in line with the increased pace of business activity in tha
period. In particular, there was a marked rise in net income
of manufacturing corporations; the relative gain for nonmanufacturing industry was more moderate.
After adjustment for inventory gains and losses, before-ta?
profits in the fourth quarter of 1955 approached a seasonally
adjusted annual rate of $44 billion. For last year as a whole
the total was close to $42 billion, a rise of nearly one-fourth
from 1954 in this volatile segment of income. In the 1953-54
period the flow of profits was cut from more than $40 billior
in the second quarter of the former year to $33 billion in
the lowest quarters of 1954.
Since corporate inventory goods generally rose in price
during 1955, book profits measured inclusive of inventory
gains moved, upward somewhat more rapidly than did the
profits adjusted for this factor, registering a gain of close to
30 percent from 1954 to 1955. After-tax profits showed a
similar percentage advance to approach $22 billion last year.
While nearly all major industrial divisions recorded higher
profits in 1955, the industry pattern of the expansion reflected in particular the recovery and growth of activity in
manufacturing, which is predominantly corporate in structure. This division, which accounted for about half of all
before-tax profits in 1954, contributed approximately twothirds of the 1954-55 increase. Both the nondurable and
the durable goods industries shared in the increase; the
durables, which are characteristically the more volatile in
terms of profits, showed the higher rate of rise.
Among the other industry divisions, transportation and
mining in particular showed pronounced gains from 1954
to 1955. These were the industries which, with manufacturing, had been most affected by the 1953-54 business
readjustment. Smaller percentage advances are indicated
for the public utilities and finance divisions and for most
other branches of nonmanufacturing industry.

BUSINESS STATISTICS

WlontU,

-L HE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1955 Statistical Supplement to the SURVEY OF
CURRENT BUSINESS. That volume (price $2.00) contains monthly data for the years 1951 through 1954 and monthly averages for earlier years
back to 1929 insofar as available; it also provides a description of each series and references to sources of monthly figures prior to 1951. Series
added or revised since publication of the 1955 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. In most instances, 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,
through the courtesy of the compilers, and are subject to their copyrights.

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

Data from private sources are provided

1956

1955

March

April

May

June

July

Septem- October Novem- December
ber
ber

August

February

January

March

GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT
Seasonally adjusted quarterly totals at annual rates:
National income, total_ _ bil. of dol
Compensation of employees total
Wages and salaries, total
Private
Military
_
Government civilian
Supplements to wages and salaries

do
do
do
do
do
do

Proprietors' and rental income, total cT -Business and professional c?
-Farm
Rental income of persons
Corporate profits and inventory valuation
ment total
bil
Corporate profits before tax total
Corporate profits tax liability
Corporate profits after tax
Inventory valuation adjustment
Net interest
Gross national product, total

do
do
do
do
adjustof dol
do
do
do
do
do

__

311.4

320.7

213 1
200 8
166 5
91
25 3
12.2

219
207
171
9
25
12

1

332 2

325. 7
224 3
211 3 |
175 6 !
91 !
26 6
13 0
i
48.8
27. 6
10 6
10 7

5
0
7
3
9
5

j
48.8
26.6
11.5 i
10 7

48.7
27.1
11.0
10 7

39 6
40 9
20 5
20. 4
1 3
9.9

42 2
43 0
21.6
21.4
8
10 3

41
44
22
22
2
10

228 0
214 7
178 8
90
26 9
13 2

230 1
216. 6
180 3
8.9
27 4
13.5

49.5
28.0
10 8
10 7

j - - - _. .

49.3
°8 1
10.3
10 8

4 '3
46
23
2?,
3
11

9
5
3
2
Q
7

f>
S
5
3
1
2

i

-_
—2 7
11.6

do

375.3

384.8

392.0

397.3

398. 6

Personal consumption expenditures, total
"Durable goods
Nondurable goods -_.
_
___
Services

do
do
do
do

245.8
34 4
122.4
89 0

250. 5
35 1
125.3
90 2

255. 7
36 9
127.0
91.8

257.2
34 8
128.8
93 6

258. 8
33 9
129. 9
95. 1

Gross private domestic investment, total
New construction
Producers' durable equipment
Change in business inventories _ _ _ . --

do
do
do
-do.

54 1
31.2
21 5
1.5

60.1
32.6
23 2
4.3

60. 5
33.2
24. 9
2.4

63 2
32.3
25 5
5.3

62. 4
31.6
26.8
4.0

o

— 3

o

75 8
46.4
41 2
29.4

74 9
45.2
40 4
•29.7

75.8
45.5
40.6
30.2

77 2
46.3
41 0
31.0

77 4
45.7
40 8
31.7

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

— 4

.

| _

Personal income, total
Less* Personal tax and nontax payments
Equals* Disposable personal income

do
do
do

293.6
32 6
261 0

300.5
33 4
267 1

306 1
34 4
271 7

311 5
35 4
276 0

313 6
36 6
277 0

Personal saving §

do

15 3

16 6

16 0

18 8

18 2

PERSONAL INCOME, BY SOURCE
Seasonally adjusted, at annual rates:
Total personal income
-

-

Wage and salary disbursements, total
Commodity-producing industries
Distributive industries
Service industries
_ __
Government

bil. of dol
do
do
do
do
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

295.7

298 9

301 4

301.6

305.3

305.3

307.9

308. 7

311 5

314. 3

312 7 : r 313 3

314.9

202.6
87 8
53 6
27.0
34 2

204.6
88 9
53 6
27.2
34 9

207.3
90 6
54 5
27.4
34 8

208.0
90 9
54 9
27.4
34 8

212.4
91.7
55 7
27.8
37 2

211.2
91.5
56 1
27.9
35 7

212.4
92.2
56.4
28.0
35 8

213.3
92 8
56 4
28 2
35 9

215 3
94 0
56 8
28 5
36 0

215 8
94 1
56 9
28.7
36 1

216.2 '216.3
94 1 i ' 94 0
57 3
57 3
28. 6 ; r 28. 7
36 2
36 3

217.3
94 5
57 5
28.9
3(5 4

68
48.5
25.5
17.4

69
49.0
25.9
17 6

6.9
48.8
26.1
17 5

69
48.5
26.3
17.1

7.0
47.9
26.4
16.9

7.0
48.8
26.7
16.9

7. 1
49.7
27.1
16.9

71
49.3
27.4
16 9

7 l
49 7
27.6
17 1

7 2
49.4
29.9
17 4

51

51

5 2

5.2

5.3

5.3

5.3

5 3

5 3

5 4

287.2
280.9
294.4
299.9
291.7
296.6
293.0
290.8
Total nonagricultural income
do
283.7
286.6
T
Revised.
cf 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.




72
49. 2
28. 1
17 7

72
49. 3
' 28. 4
17.8

r

57
298. 6 :

5. 7
r

299. 0

7 3
49.3 1
28.7 i
18.0
5. 7

300.9 \

S-l

April

SUEVEY OF CURRENT BUSINESS

S-2

May 1956

1955

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

March

April

May

June

July

1956

August

Septem- October Noven; - December
ber
ber

January

February

March

April

GENERAL BUSINESS INDICATORS—Continued
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly totals:
All industries

_

5, 847

7,009

7,449

8,398

do
do
do

2,249
1.063
1. 186

2 705
1.278
1.517

2 899
1,378
1,521

3 499
1,718
1.781

3 340
1,686
1, 654

do
do
do
do
do

186
179
359

248
215
401

2, 030

235
217
420
1. 052
2 290

1,174
2 512 !

288
312
421
1,238
2, 640

311 1
410
1,101
2, 601

mil. of dol_-

JVlantifacturing
Durable-goods industries
Nondurable-goods industries

- .

Mining
Railroads
Transportation other than rail
Public utilities
Commercial and other

\

Seasonally adjusted quarterly totals at annual rates:
\11 industries
bil of dol

845

i 8, 056

293

95 65

27.19

29. 65

31 45

i 33. 21

Manufacturing
Durable-goods industries
Nondurable-goods indu^trie^

do
do
do

10.17
4 78
5.39

10.84
5 06
5 78

11.97
5 77
6 20

12 48
6 00
6 48

13. f/)
6.81
6.85

Mining
Railroads
Transportation, other than rail
Public utilities
Commercial and other

do
do
do
do
do

74

.94
80

1.46
4.01
8.46

1.62
4 09
8 90

.99
90
1.60

1 08
1.17
1 70
4.48
10 54

1 14
1.18
1. 71
4.84
10. 68

.80

_

9. 70

_

__

FARM INCOME AND MARKETINGS J
Cash receipts from farming, including Government
payments, total
iril of dol

1,897

2,016

2,020

2,006

2,101

2,467

3,077

3,584

3,297

2, 738

2,389

1,839

1,875
547
1.328
349
677
286

2,001
655
1, 346
361
679
279

2,003
617
1, 386
389
679
280

1, 995
698
1,297
383
615
264

2,091
896
1,195
363
548
264

2, 457
1,118
1, 339
351
690
285

3. 064
1,691
1,373
331
712
316

3, 569
2, 031
1, 538
340
842
342

3, 276
1, 865
1,411
332
712
355

2,709
1,444
1, 265
350
563
337

2,350
1,109
1,241
335
627
258

1,812
678
1,134
319
563
232

283
193
350

302
232
354

302
218
365

301
247
341

315
317
315

371
395
352

462
598
361

538
717
405

494
659
372

409
510
333

355
392
327

273
240
298

127
76
166

132
82
170

137
75
183

138
96
170

146
133
156

170
166
172

202
237
175

237
287
200

212
234
196

183
187
180

166
156
173

134
102
158

- _ _ . 1947-49 = 100 -

138

138

138

139

130

139

142

147

145

142

143

144

'143

p 143

Manufactures
- _ . - _ - - . . _ -do __
Durable manufactures
do
Primary metals 9 - - ... ._do.- Steel
do
Primary nonferrous metals
do

140
154
142
146
169

140
155
144
148
166

140
155
143
151
166

141
155
144
147
167

132
146
122
133
127

140
153
132
141
150

144
157
143
150
173

150
164
149
154
171

148
163
149
156
173

143
161
147
154
175

144
160
151
159

146
161
152
159
176

'145
161
' 153
160
182

p 145
P 162
P 153

165
130
154
132
195

166
131
152
134
189

165
134
151
135
181

163
135
153
137
184

157
130
142
131
165

162
139
153
131
194

165
142
161
137
207

173
145
169
141
223

174
139
164
141
208

173
137
164
147
197

172
135
167
149
201

172
134
168
152
' 199

172
' 134

do
do
do
do
do
do
do
do
- do_

209
215
104
479
145
114
126
140
137

213
223
137
472
144
111
129
146
135

209
205
132
469
142
113
129
149
137

200
184
134
466
149
116
137
155
141

197
195
126
469
147
113
118
149
133

192
166
106
469
150
123
133
158
142

185
130
102
484
155
127
136
158
149

200
153
106
490
158
128
138
161
154

216
212
122
500
159
128
124
157
152

214
193
122
516
161
128
113
153
149

206
173
113
517
160
122
116
150
141

'205
164
125
'521
'161
123
121
150
145

'204
163
130
516
'161
'122
120
'152
' 143

J>204
P 162

do
do
do
do
do
do
do
do
do
do
do

125
100
100
128
95
101
100
105
109
118
74

124
101
100
118
94
107
106
99
109
118
79

124
104
102
114
97
113
107
109
108
116
83

127
112
108
114
100
127
117
116
106
110
85

117
111
109
104
100
121
106
92
91
96
73

128
117
118
118
98
114
104
112
108
115
79

130
122
125
129
99
111
102
107
106
111
80

135
124
125
143
100
118
117
114
112
117
85

132
114
118
150
99
102
105
107
111
118
83

125
105
109
152
99
91
88
88
105
110
80

128
102
106
153
95
87
84
107
111
119
83

131
102
104
' 140
95
'96
94
105
' 115
'123
84

'130
102
102
136
94

p 128

Farm marketings and CCC loans, total
do
Crops
do
Livestock and products, total 9 - -- - ---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:
\llcommodities
1935-39—100
Crops
do
Livestock and products
do

I

INDUSTRIAL PRODUCTION
Federal Reserve Index of Physical Tolume
Unadjusted, combined index

-

Metal fabricating (incl. ordnance)
Fabricated metal products
Machinery
Nonelectrical machinery
Electrical machinery
Transportation equipment 9 . _Autos
Trucks
Aircraft and parts
Instruments and related, products
Furniture and fixtures
Lumber and products
Stone, clay, and glass products
Miscellaneous manufactures - -- _ _
Nondurable manufactures
Food and beverage manufactures
Food manufactures 9
M^eat products
Bakery products
Beverages
Alcoholic beverages
Tobacco manufactures
Textile-mill products 9
Cotton and synthetic fabrics
\\rool textiles

do
do.
do
do
do

.

r 108

154
' 197

::::___p 173
P 134
p 170
P 153
P202

p 122
P 156
p 142

111
118
85

120
117
124
95
107
117
116
111
123
117
113
117
110
Apparel and allied products
do
112
92
99
109
' 120
102
108
109
107
113
100
105
105
Leather and products
do
162
163
157
M46
159
139
155
154
153
167
157
156
152
Paper and allied products
._
-- do
158
161
156
144
158
151
150
154
135
163
151
150
148
Pulp and paper
do
126
135
'131 ~Vi32123
121
127
128
130
127
128
135
131
127
Printing and publishing
do
180
178
180
177
177
165
158
163
166
171
165
165
176
Chemicals and allied products
do
202
202
197
200
197
190
176
182
192
185
184
182
182
Industrial chemicals
do
'141 [
143
141
134
'143
140
138
138
136
133
^137
131
136
132
Petroleum and coal products
- do
154
151
148
148
141
152
143
143
141
135
140
139
136
Petroleum refining
do
r
144
150
146
121
'148
139
155
133
147
'148
151
146
Rubber oroducts
do
l
' Revised.
» Preliminary.
Estimates based on anticipated capital expenditures of business; those for the 2d quarter of 1956 appear on p. 14 of the March 1956 issue of the SURVEY.
9 Includes data not shown separately.
JAnnual estimates beginning 1910 and monthly data beginning January 1953 for cash receipts, also monthly data beginning January 1953 for indexes of cash receipts and volume of marketngs, have been revised to take into account the latest information on production, disposition, and price. Unpublished revisions (prior to August 1954) will be shown later.




SUEVEY OF CURRENT BUSINESS

ilay 1050

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

S-3

1955

March

April

May

June

July

1956

August

Septem- October Novem- December
ber
ber

January

February

March

April

GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION— Continued
Federal Reserve Index of Physical Volume— Con.
Unadjusted index— Continued
118
71
145
86
122

119
72
143
101
128

122
77
139
131
133

121
74
139
141
134

119
77
139
104
135

124
82
141
126
139

126
83
142
141
141

127
88
143
136
139

126
87
147
105
135

127
91
151
83
129

128
91
153
r
87
124

r 127

do

135

136

138

139

139

140

142

]43

143

144

143

143

do
do
_ do

136
150
136

138
151
138

140
153
140

141
155
143

141
155
134

142
158
139

144
160
146

145
161
148

145
161
149

146
161
150

145
160
148

144
158
148

Metal fabricating (incl. ordnance) ___ _ do
Fabricated metal products
do
Machinery
- _.
do
Nonelectrical machinery
...do
Electrical machinery
_
do

160
129
147
126
190

162
130
151
131
191

163
134
153
134
189

164
135
155
136
192

166
135
158
138
197

168
137
159
140
196

170
141
161
141
199

173
142
164
143
205

172
139
162
143
198

172
138
163
144
199

170
136
164
146
197

168
134
r 162
r
147
192

Transportation equipment
Instruments and related products
___
Furniture and
fixtures--_ _ _ _.
Lumber and products
__ _
Stone, clay, and glass products
Miscellaneous manufactures

200
143
112
127
143
136

202
143
113
127
146
136

202
142
117
128
149
142

198
149
121
133
153
145

202
151
122
125
152
143

203
153
124
127
155
145

205
155
125
127
155
145

208
156
124
130
153
145

212
158
123
124
156
145

212
159
123
126
' 154
146

205
160
122
128
154
144

r 120

129
111
109
108
113
108

Minerals
Coal
- --_
Crude oil and natural gas
Metal mining
_
Stone and earth minerals

. 1947-49 = 100
do do
_ _ _ _ _ _ _ _ _ do
do

Adjusted combined index
Manufactures
Durable manufactures
Primary metals

do
do
do _ _
do
do.__
do

r

88
'•151
'90
r
126

r

201
161

124
155

r 143

Nondurable manufactures
Food and beverage manufactures
Tobacco manufactures
Textile-mill products
_ __
Apparel and allied products
Leather and products

do
- do
do
.. do
do _ _ _
- do

123
107
107
104
111
105

126
109
103
107
112
105

127
108
109
106
114
105

128
109
109
107
114
107

126
108
101
106
112
106

125
108
100
107
112
10?

128
108
100
107
116
104

129
111
105
109
116
105

130
112
104
110
117
101

130
113
107
109
116
108

Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber products

do
__do _.
-do _ _ do do

147
125
161
134
140

151
125
163
136
144

156
126
168
134
147

156
128
170
136
149

155
128
170
134
137

153
128
168
135
138

157
130
173
135
142

156
131
171
137
147

157
130
173
139
147

' 159
128
175
141
r
144

121
72
145
113
132

119
72
143
100
129

121
81
139
111
129

122
86
139
117
129

120
87
139
88
130

121
8?
141
105
130

123
80
141
119
133

123
80
143
120
131

125
80
147
114
134

129
87
151
112
135

' 137

156

147

144

137

139

136

146

159

148

144

143

do
-. do -do
do
do
do _ _ _
do

179
215
151
114
151
260
99

180
223
145
111
150
228
99

167
205
136
109
145
189
102

160
184
141
113
152
192
106

152
195
115
105
116
143
103

152
166
141
117
127
254
110

145
130
159
124
151
289
115

157
153
162
127
145
315
120

177
212
150
124
131
279
117

do

142

144

145

144

150

151

154

152

151

do
do
do
do_ _ _
do. _ _
do
do

161
192
136
109
133
222
100

163
192
140
110
140
226
100

163
190
141
113
142
222
103

160
173
151
117
145
269
106

169
188
155
117
146
290
106

169
189
155
121
143
294
107

172
195
156
123
147
279
111

168
194
148
121
137
259
114

167
196
143
121
134
235
114

50.7

50.9

51.7

52.3

51.9

52.8

53.1

52.5

26.0
12.9
13.1

26.0
12.8
13.2

26.6
13 3
13.3

27.1
13 5
13.6

26.7
13.5
13.2

27.2
13.7
13.5

27.2
13 7
13.5

pl29
p85
P 150

r

141

P 142

' 142
157
'145

P 144
P159
M47

167
'132
162
146
r
191

pl70
p 133
p 169
v 150
P204

' 199
160
' 120
121
'156
141

p
p
p
P
p
P

r

P 128

138

155

'126
86
r
150
90
128

Minerals
Coal
Crude oil and natural gas
Metal mining
Stone and earth minerals

-- --

do
do
do
do - do

__

r 130

112
107
109
114

107
108
105

r H2

159
130
173
142
r 147

r 157

129
174

r

r 143
r 142

131
87
153

r 130

88

r 151
r 120

r 121

128
110

196
1(54
121
120
156
143

157
' 129
175
r
143
r

p 129
P 141

130
80
150
119
140

p 130
p 86
P 150

r

142

P 141

T

157
163

p 155
p 162
p 152

r

p 143

CONSUMER DURABLES OUTPUT
Unadjusted total output

-

1947-49=100

Major consumer durables
\utos
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
Furniture and floor coverings
Appliances and heaters _Radio and television sets Other consumer durables

_

_

r

159
r
172
150
120
148
239
109

r HO

r 108

' 149

143

137

133

163
187

148

r 143

143
216
114

156
171
r 146
120
150
207
113

53.2

53 2

52.9

26 6
13 3
13.4

27.3
13 7
13.6

27 3
13 7
13 6

27.0
13 6
13.4

165

193
r 142

125
130
224
111

r 144
121

157
164
r 153

r 155

r 123

121

156
233

218

148

1 ^8
r 141
r 11Q

r 140

146
194
111

r 108

52 9

p
P
P
P

133
143
142
146

186

53 1

27 2
13 6
13 6

P 108

27 1
13 3
13 7

117

p 109

BUSINESS SALES AND INVENTORIES §

Manufacturing and trade sales (adj.), totaL.bil. of dol _
Manufacturing, total
Durable-goods industries
Nondurable-goods industries

_

_

do
do
do

r

Wholesale trade, total
Durable-goods establishments
Nondurable-goods establishments

do_- do
do

9.7
3.2
6.5

9.6
3.2
6.4

9.7
33
6.4

9 7
33
6.5

9.6
33
6.3

9.9
34
6.4

10 0
34
6.6

10 1
34
67

10.1
34
6.6

10 1
34
67

10 2
35
6 7

r 10 4
35
r
69

10 3
35
68

Retail trade, total
Durable-goods stores..
Nondurable-goods stores

do
do
do - -

15.1
5.5
9.6

15.3
5.5
9.7

15 4
5.5
99

15 4
5.6
9.8

15.5
5.7
9.8

15 7
5.8
9 9

15 8
58
10 0

15 8
58
10 0

15 8
5.7
10.1

15 8
57
10 1

15 7
55
10 2

15 3
54
10 0

15 7
54
10 3

Manufacturing and trade inventories, book value, end
of month (adjusted), total
_bil. of dol..

77.5

77.7

78.3

78.8

79.2

79.6

80.0

80.9

81.6

82.1

82.8

'83.6

83.8

43.3
24.1
19.2

43.3
24.2
19.1

43.5
24 3
19.2

43.8
24 5
19.3

43.9
24.6
19.4

44.3
24 8
19.5

44.7
25 2
19 5

45.4
25 7
19 7

45.7
26 1
19.6

45 9
26 3
19 6

46 3
26 6
19 7

r

19 9

47 4
27 4
20 0

11.6
5.7
5.9

11.7
5.7
5.9

11.8
5.8
6.0

11.8
5.9
59

11.9
6.0
5.9

11.9
6.0
5.9

12 0
6.1
59

12 2
6.2
60

12.3
6.3
60

12 3
64
59

12 4
64
60

12 5
6 4
60

12 6
65
61

23 3
10 7
12.6

23 6
11.0
12.6

23 9
11 2
12.7

24 l
11 4
12.7

24 2
11 5
12.7

23 8
11 2
12! 6

- _- _
- _.

Manufacturing, total
Durable-goods industries
Nondurable-goods industries
Wholesale trade, total
Durable-goods establishments
Nondurable-goods establishments

.do
do _
do
do
do
_ _ _ _ _ do _ _

22.6
23.4
Retail trade, total
do
22.8
23.0
23.2
23.3
23 2
10.5
Durable-goods stores
do
10.5
10.8
10.8
10.8
10.8
10 7
Nondurable-goods stores.
do
12.1
12.5
12.2
12.3
12.4
12.5
12.5
r
Revised.
p Preliminary.
§The term "business" here includes only manufacturing and trade. Business inventories as shown on p. S-l cover data
data for manufacturing are shown on p. S-4; those for retail and wholesale trade on pp. S-9, S-10, and S-ll.




46 9

r 27 0

for all types of producers, both farm and nonfarm.

Unadjusted

SURVEY OF CURRENT BUSINESS

S-4
BUSINESS STATISTICS

M a y l<)o(j
1<

1955

sties through 1954 and
in the 1955 edition of

March

April

May

June

July

August

Septem- October Novem- December
ber
ber

January

February

March

26. 536
13, 301
2 393
1 342
* 3, 652

28, 474
14. 320
2 605
1.455
3. 915

April

GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
PS, value (unadjusted), total
mil. of doL_
Durable-goods industries, total
do
Primary metal
do
Fabricated metal
do
Machinery (including electrical)
do
Transportation equipment (including motor
vehicles")
mil. of dol
Lumber and furniture
do
Stone clay and glass
do
Othfr durable-good^ industries
do

27, 550
13, 899
2 225
1, 291
3, 628

26, 296
13 300
2 178
1 278
3,326

26, 325
13 390
2 241
1 259
3,382

27, 394
13 974
2 349
1 397
3 682

24, 644
12 114
1 875
1 294
3,036

27,411
13 494
2 223
1 585
3,332

27. 596
13 502
2 353
1 536
3. 535

27. 830
13 656
2 369
1 548
3, 577

27, 292
13 723
2 390
1 381
3,473

26, 967
13, 716
2 433
1, 306
3,777

26, 363
13,112
2 428
1,343
3. 503

3, 852
1, 176
651
1 076

3. 805
1 100
643
970

3, 732
1 136
672
968

3 529
1 244
716
1 057

3,342
1 034
631
902

3 142
1 344
744
1 124

2.956
1 285
730
1 107

3 087
1 188
738
1 149

3,633
1 133
668
1 045

3. 529
1 045
613
1 013

r
r

3, 166
1 050
560
1 062

r
T

T
r

3, 169
1 101
r
602
1 042

3. 363
1 193
676
1 113

13 235
3 977
304
r
1,090
r
877
"• 1 , 887
r
2, 440
423
T
2, 237

1-1 154
4, 214
313
1,149
933
2. 046
2. 628

r
T

13 651
4, 117
309
1, 151
847
2, 025
2,388
475
2,339

12 996
4 045
300
1.072
803
2.006
2,238
459
2,073

12 935
4 176
343
1, 043
824
1,979
2,229
460
1,881

13 420
4 377
343
1.148
844
1. 955
2 338
488
1,927

12 530
4. 148
316
952
776
1,753
2,276
453
1,856

13 917
4 392
360
1,187
883
1,984
2 382
470
2 259

14 094
4 419
338
1.244
879
2, 058
2.346
451
2,359

14 174
4 352
320
1,246
921
2,040
2 362
483
2 450

13 569
4 084
334
1,221
886
1,919
2 454
443
2 228

13 251
4, 016
327
1,115
838
1,801
2, 695
'447
2,012

13 251
3 962
306
1,078
883
1,977
2 549
425
2 071

es value (adjusted), total - _
do_
)urable-goods industries, total
do
Primary metal
do
Fabricated metal
do
Machinery (including electrical)
do
Transportation equipment (including motor
vehicles)
mil of dol
Lumber and furniture
do
Stone clay pnd glass
do
Other durable-goods industries
do

25, 976
12, 860
2,087
1 253
3, 318

26, 025
12, 805
2, 133
1 278
3, 193

26, 651
13, 322
2, 213
1 325
3, 410

27,111
13, 527
2,315
1 383
3 547

26, 731
13, 503
2, 138
1 407
3 475

27, 229
13 745
2 285
1 510
3 484

27, 224
13, 692
2 394
1 436
3 474

26, 637
13 261
2 324
1 382
3 472

27, 343
13, 721
2 393
1 395
3 553

27, 289
13, 688
2 341
1 375
3 648

27, 023 r 27, 224
13, 595 * r13, 593
2 457
2 369
1 399 r I 413
3 691 r 3 647

3, 486
1,069
632
1,015

3,546
1,048
637
970

3,609
1, 125
652
988

3 329
1,208
688
1,057

3,615
1.198
657
1,013

3 413
1 280
682
1 091

3 438
1. 236
670
1,044

3 252
1 131
665
1 035

3 576
1 144
655
1 005

3, 460
1, 124
674
1, 066

Nondurable-goods industries, total
Food and beverage
Tobacco
Textile
Paper
Chemical

13, 116
4,113
303
1.096
807
1,902
2,341
466
2,088

13, 220
4,246
326
1, 117
787
1,912
2 284
445
2,103

13, 329
4,189
336
1,172
841
1,961
2,346
465
2,019

13, 584
4,329
318
1, 148
844
1,985
2 386
465
2,109

13, 228
4,223
316
1,133
834
1,844
2 299
471
2,108

13 484
4,291
330
1, 109
874
2,001
2 382
456
2,041

13, 532
4, 249
319
1.131
870
2.010
2 346
'456
2, 151

13, 376
4,104
327
1,112
877
1,939
2,339
447
2,231

43, 483
24, 268
3,166
2, 486
7,898

43, 344
24, 352
3, 126
2,546
7,955

43, 649
24, 539
3,134
2, 601
8,029

43, 976
24, 755
3,116
2.716
8,078

43, 855
24, 574
3,201
2, 656
8,009

43, 945
24, 618
3,281
2, 594
7,983

44. 266
24, 901
3 379
2. 674
7 996

5,940
1, 731
914
2, 133

5,922
1,736
915
2,152

5,925
1,752
915
2,183

5, 998
1,747
906
2,194

5,865
1,773
906
2,164

5, 953
1, 759
896
2,152

6.2
10.0
81

6.2
10.0
8.2

6.3
10.0
83

6.5
10.1
8.2

6.6
10.0
7 9

19,215
4, 391
1,901
2, 396
1,057
3, 022
2, 587
821
3, 040

18, 992
4, 228
1,857
2, 404
1,044
2, 967
2.605
824
3, 063

19,110
4, 145
1,805
2,444
1,038
2, 993
2, 670
842
3, 173

19,221
4,108
1,764
2,450
1,034
3, 053
2, 686
875
3, 251

7.8
29
8.5

7.7
2.9
8.4

7.6
2.9
8.5

43. 332
24, 112
3, 288
2. 461
7,788

43 264
24, 159
3,266
2,496
7.816

5,883
1,714
887
2,091
6.3
9.9
7.9

Nondurable-goods industries total
Food and beverage
Tobacco
Textile
--Paper
Chemical
Petroleum and coal
Rubber
Other nondurable-goods industries

Rubber
Other nondurable-goods industries

do
do
do
--- --do
do
-- -do
do
do
do

-

do
do
do
do
do
do
do
do

raitories, end of month:
Book value (unadjusted), total _ _
_ . -do
Durable-goods industries, total
do
Primary metal
do
Fabricated metal
do
Machinery (including electrical)
do
Transportation equipment (including motor
vehicles)
mil of dol
Lumber and furniture
- - do-__
Stone clay, and class
do
Other durable-goods industries
do
By stages of fabrication:
Purchased materials
bil. of dol
Goods in process
do
Finished goods
do
Nondurable-goods industries, total
Food and beverage
Tobacco
Textile
Paper

mil. of dol_.
do
do ..
do
do

Petroleum and coal
do
Rubber
do
Other nondurable-goods industries
do
By stages of fabrication:
Purchased materials
bil. of dol
Goods in process
do
Finished goods
do
ventories, end of month:
Book value (adjusted) total
mil of d^l
Durable-goods industries, total. _
do
Primarv metal
do
Fabricated metal
_
do - _
Machinery (in^uding electrical)
do
Transportation equipment (including motor
vehicle^)
n.iil. of dol
Lumber and furniture
__ _ do.
Stone clay, and glass
do
Other durable-goods industries
do
By stapes of fabrication:
Purchased materials
_bil. of dol
Goods in process
do
Finished goods
do
Nondurable-goods industries, ^otal
mil of dol
Food and beverage. __ . _ _ _ _ .. _do_ _.
Tobacco
do
Textile
do
Paper
do
Chemical
do
Petroleum and coal _ _ _ do. ..
Rubber
do
Other nondurable-goods industries - do
By stages of fabrication:
Purchased materials
-- bil. of dol
Goods in Drocess
do
Finished goods
do
r Revised.




T

3 194
1 141
659
1 142

T

3 1 37
1 147
r
684
1, 10S

3 089
1. 105
656

13 631
4, 180

13, 738
4.266

T
r

13 622
4,047
327
1,197
886
2,014
2 479
482
2,190

13, 601
4, 095
337
1,126
873
1, 959
2 495
465
2, 251

13 428
4, 066
329
1,100
866
1,931
2 475
415
2, 246

r

44, 959
25, 377
3,512
2.617
8,093

45,317
25 670
3 600
2 649
8 232

46, 123
26, 235
3,603
2. 658
8 412

46, 704
26, 726
3 576
2*718
8 700

T

6 066
1,777
887
2,122

6,346
1,806
900
2,103

6 388
1,806
901
2 094

6. 624
1,855
956
2,127

6 749

6.8
10.0
7.8

7.0
10 2

7. 1
10.5
7 8

7 1
10 6
80

7.1
10.8
8.3

7 2
11 0
85

19, 281
4,221
1,722
2,422
1,052
3 051
2, 753
827
3,233

19, 327
4,348
1, 719
2,410
1,046
3,047
2,783
811
3, 163

19, 365
4, 475
1.728
2,373
1,016
3 063
2.815
830
3,065

19, 582
4, 656
1,777
2,349
1, 028
3 101
2,880
848
2 943

19, 647
4 661
1 797
2 377
1 031
3 142
2,823
888
2 928

19, 888
4,584
1,867
2,422
1, 063
3,280
2,758
T
943
2,971

19. 978
4 502
1 938
2 460
1 080
3 300
2. 699
963
3 036

7.6
2.9
8.7

7.6
2.9
8.7

7.6
3.0
8.7

30
8.6

7 9
30
8.7

8 2
2 9
8 5

8.4
2.9
8.6

8 4
30
8 6

43, 549
24, 304
3,236
2, 501
7,919

43, 779
24. 457
3,188
2, 587
7,905

43 938
24, 563
3,197
2,604
8,010

44 315
24. 768
3, 259
2,620
8,069

44 703
2S', 182
3. 305
2. 757
8.110

45, 356
25. 659
3,426
2,726
8,240

45 669
26, 050
3,491
2, 759
8,397

45 923
26. 317
3.494
2,740
8.494

46 299
26, 590
3.519
2,718
8, 678

5,864
1,719
888
2,110

5,876
1, 735
897
2,140

5,961
1,747
897
2,172

5,905
1,755
906
2,186

5, 990
1,742
914
2, 174

6,136
1. 795
914
2 165

6, 331
1,843
947
2,146

6,475
1,843
948
2,137

6,603
1,837
956
2, 193

6,711
1,871
966
2, 127

6.5
9.9
7.8

6.5
10.0
7.9

6.6
10.0
7.9

6.6
10.1
7.8

6.7
10.1
8.0

6.9
10 2
8.0

7.0
10.5
8.2

6.9
10.8
8.3

7.0
10.9
8.4

7.1
10.9
8.5

r

338

19, 245
4, 391
1,842
2,396
1,038
2, 995
2,670
810
3,103

19, 322
4,344
1,857
2, 426
1,034
3,024
2, 713
850
3,074

19 375
4,358
1,832
2 398
1,063
3,039
2,753
853
3,079

19 547
4,374
1,829
2 434
1,078
3,112
2, 755
863
3,102

19 521
4.392
1, 763
2 397
1.026
3.188
2.787
874
3.094

19 697
4,497
1,759
2 397
1,049
3,190
2,824
902
3,079

19 619
4,450
1,779
2 426
1,041
3,157
2,768
935
3,063

19 606
4,382
1,795
2,471
1,052
3,199
2,731
'934
3,042

19, 709
4, 372
1,828
2,485
1,069
3,248
2,754
935
3,018

7. 7
2.8
8.7

7. 7
2.8
8.6

7.8
2.9
8.5

7.8
2.9
8.6

7.8
2 9
8.6

7.9
3.0
8.6

7.9
30
8.6

8.0
3.0
8.7

8. 1
31
8.4

8.2
2.9
8.5

8.2
2.9
8.6

323
1.105

889
1,926
° 576

445
* 2, 185

r

47,
27
r 3
r
2

227 149
564
803

r 8 960
r
r
T

985
2 127

19. 105
4.400
1,839
2,380
1,034
2.943
2, 658
784
3,067

1 . (HO

1.124
r
904
r
1,940
T 9 515

r

1,871

19 220
4,442
1,846
2.396
1,036
2,982
2,667
805
3,046

2.417
27, 082
13, 344
2,442
1 413
3 599

r

6 860
1, 783
1,015
2 164
T

47, 627
27 591
3 526
2 899
9 198
0 929
1.801
1,029
<* ''09

1 3

r 11 0

r 8 7
r

2. 203

20, 078
4 434
1 924
r 2 477 !
r
1 115
r 3 377
' 2, 737
999
r

r 3 Q15

11 4
"v 9
20. 036
4 314
1, 928
'> 505
1 . 141
3 40'>
2. 688
3 049

r

s 4
3 o

8 4
r3 o
8 7
r
r

46 897
27, 009 i
3. 570
r 2, 803
r
8, 939
r

r

6, 816
' 1,783
••976
r
2, 122
r

r

7.3
11. 1
8.6

47
27,
3.
2.
9,

391
433
080
842
070

6. 8M
1,801

999
2, 187

11.2

3.7

19, 958
19 8S8
r
4. 386
4, 361
1.872
1,832 :
T
2. 456
2, 477
1, 083
1.119
' 3, 339 3. 357
'
r
2, 743
2, 793 :
970
r
3. Ooo
3. 033 •
r
8. 2
3.0
'8.7

8. 2
0
9

S. 9

_-

SURVEY OF CTJEKENT BUSINESS

Miiy I'J.'i;

S-5
19 56

1955

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

March

April

May

June

July

August Septem- October Novem- December
ber
ber

February

January

March

April

GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
28, 310
14, 596
2, 89fi
1, 463
3, 656

Nondurable-goods industries, total
Industries \vithunfilledorders9
Industries without unfilled orders ^

Nondurable-goods industries, total
Industries with unfilled orders 9
Industries without unfilled orders f

28, 443
14, 5SO
2, 559
1, 686
3,698

28, 744
14,766
2,406
1,617
4,029

28, 213
14, 061
2,302
1,540
3,882

27, 726
14, 026
2,613
1,412
3,682

28, 684
15, 478
2 629
1, 430
4,268

3, 337
2,728

3, 768
2,813

3, 548
3,126

3, 234
2,713

3,191
3, 446

3,733
2, 981

3,434
2, 903

3,726
2,593

4, 634
2, 517

3. 730
2, 901

12 911
2, 888
10, 023

12, 995
2, 957
10, 038

13, 743
3,403
10, 340

12, 753
3,010
9,743

13, 863
3. 159
10, 704

13, 978
3,195
10, 783

14, 152
3,309
10, 843

13,700
3,296
10, 404

13, 206
2, 965
10, 241

13, 161
2,944
10, 217

26, 116
12, 879
2,385
1,194
3,179

27, 720
14, 331
2,538
1,366
3,531

27, 795
14, 033
2,477
1, 562
3,734

27, 044
13, 571
2, 339
1.445
3, 656

28, 718
15, 145
2,611
1, 606
3,833

28, 301
14, 936
2,532
1, 525
4,165

27, 466
14, 094
2.373
1, 540
3,929

28, 315
14, 680
2,751
1,569
4,006

29, 295
15, 605
2,528
1,589
4.118

28, 074 r 27, 627
14, 683 r r14, 107
2, 387
2, 737
1,398 r 1, 520
r 3, 953
3,806

26, 815
13, 357
2, 359
1,396
3, 793

3,337
2,784

3,966
2,930

3,225
3,035

3, 334
2,797

3,844
3,251

3, 733
2,981

3, 434
2, 818

3, 653
2, 701

4, 634
2, 736

'3,011
* 2, 886

2, 964
2, 845

13, 129
3, 040
10, 089

13, 237
3,008
10, 229

13, 389
3,146
10, 243

13, 762
3, 336
10, 426

13, 473
3, 382
10, 091

13, 573
3.191
10, 382

13,365
2, 958
10, 407

13, 372
3, 036
10, 336

13, 635
3, 139
10, 496

13, 690
3,188
10, 502

13, 391 ' 13, 520 13, 458
2,842
3, 066 ^ 3, 041
10, 616
10, 325 r 10, 479

48, 231
45, 274
5 279
3. 387
13, 531
18, 792

Unfilled orders, end of month (unadj.), total
do
Durable-goods industries, total
do
Primary metal
do
Fabricated metal
do
Machinery (including electrical)
do
Transportation equipment (including motor vehicles)
mil.ofd.ol
Other industries, including ordnance
do

26, 100
13, 347
2, 316
1, 445
3, 639

3, 325
2, 732

do
do
do

28, 314
14, 571
2,328
1,640
3,929

26, 482
13, 353
2 586
1,306
3,404

N e w orders, net (adjusted), total_ _ _ _ _ _ d o_
Durable-goods industries, total
do
Primary metal
do
Fabricated metal
do
Machinery (including electrical)
do
Transportation equipment (including motor vehicles)
mil. of dol_ Other durable-goods industries
do

26, 708
13,713
2,513
1,298
3,321

13, 714
3, 253
10, 461

do
do
do

-

26, 043
13, 132
2, 504
1,218
3, 345

3, 658
2, 923

New orders, net (unadjusted), total
mil. of dol_Durable-goods industries, total
do
Primary metal
do
Fabricated metal
_
do
Machinery (including electrical) . ., _ do -_
Transportation equipment (including motor vehicles)
n il. of doL _
Other durable-good s industries
do

47, 978
45, 106
5,605
3, 327
13, 550
18, 324

48, 361
45, 429
5,877
3, 366
13, 489
18, 360

49, 321
46, 066
5, 856
3, 609
13, 736
18, 419

50, 777
47, 299
6, 297
3, 760
14, 339
18,311

51, 809
48, 385
6, 633
3, 861
14, 705
18, 360

52, 957
49, 649
6, 686
3,942
15,199
19, 137

53, 340
50, 054
6,619
3, 934
15, 504
19,484

53, 774
50, 357
6,842
3, 965
15. 713
19, 577

55, 491
52,119
7, 038
4, 089
16,204
20, 682

56, 596 r 57, 136
53,314 r 53, 944
7, 092 T 7 381
4,074 ' 4.176
16, 567 r 16, 823
21,246 r 21,088

57, 161
54, 206
7 418
4i 285
10,980
20, 985

27, 468 * 27, 076
14. 307 ' r 13, 931
2,482
2, 682
1,328 ' 1,444
3, 866 r 3, 908

28, 499
14,582
2, 642
1,564
4, 072

'3,011
r
2, 886

3, 260
3, 044

' 13, 145

'3,011
' 10, 134

4,191
2,901

13, 917
3, 041
10,876

4,285

4,300

4, 337

4,446

4, 592

4, 826

4, 685

4, 513

4,260

4, 106

4, 335

'• 4, 476

4, 538

do

2, 957

2,872

2,932

3, 255

3,478

3,424

3,308

3, 286

3,417

3,372

3,282

r 3, 192

2, 955

number..

13,417

11,756

12, 029

12, 605

10, 893

10, 983

11,024

10, 698

10, 157

11,539

13,363

12, 503

12, 822

1,038

903

955

914

861

888

822

919

945

908

1.048

1,024

1,170

66
108
225
520
119

66
106
154
484
93

80
121
168
499
87

75
114
200
446
79

68
102
179
423
89

59
134
158
430
107

75
114
168
366
99

81
136
180
437
85

70
133
196
462
84

73
136
191
404
104

72
126
209
535
106

62
141
202
511
108

102
150
224
572
122

41,209

35, 968

34,714

36, 667

32, 543

36. 028

33, 120 ! 34, 777

42, 783

41, 643

42, 890

49, 189

42, 622

2,916
4, 468
1fi.fi?!
11.9721
4,932 •

2, 229
6, 450
19 65X
10.705
3,871

1 , 998
4, 885
14,093
10.874
2,864

5, 259
4,702
13, 888
9. 564
3,254

1, 502
6,289
11,865
8, 605
4,282

1,987
9. 663
10. 102
10. 024
4. 2n2

2 666
4,256
10,798
8, 253
7, 147

3, 655
< 8,713
i 10, 407
! 9, 586
I 2,416

1,239
9, 744
14, 106
12, 626
5, 068

1,106
7,341
11, 554
10, 775
10. 867

2,974
6. 163
14.442
14, 936
4,375

1,920
!
9, 881
| 17,647
i 14,693
i
5, 048

:::::::::

2,015
7,089
15,649
12,430
5, 439

Nondurable-goods industries, total 9
BUSINESS INCORPORATIONS o1
New incorporations (48 States)

INDUSTRIAL AND COMMERCIAL FAILURES <?
Failures, total
Commercial service
_
Construction
Manufacturing and mining
Retail trade
Wholesale trade

number
.

..
-

Liabilities (current), total
Commercial service
Construction
_ _ _
Manufacturing and mining
Retail trade
Wholesale trade

do
do _ _
do
do
do

thous. of dol
do
do
do
do
do

_

!

1

COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
Prices received, all farm products

1910-1 4=1QO_

243

247

244

243

237

233

235

230

225

223

226

226

230

233

do
do
do
do
do

243
262
269
198
239

252
270
270
197
236

255
308
266
200
240

244
230
266
196
232

238
223
271
190
222

211
277
178
214

229 !
230
285
174
217

224
223
278
167
220

224
231
274
164
220

227
231
264
170
221

231
244
259
171
220

231
244
262
173
220

239
290
267
174
223

240
208
275
185
229

_. .

do
do
do
do

204
264
200
437

216
261
297
437

209
259
305
436

239
256
213
435

235
257
170
435

213
246
141
437

210
225
129
427

188
227
130
443

193
228
143
438

207
232
144
455

225
236
161
452

212
239
175
452

211
245
196
453

218
253
234
453

243
248
260 j
199
281

242
241
269
185
274

234
236
260
175
263

242
235
276
176
251

237
242
261
178
247

237
249
251
191
240

240

.-

do
do
do
do
do

250
202
226

236
264
240
195
222

225
267
216
195
219

219
265
201
204
220

221
260
207
205
222

220
256
215
188
226

221
250 !
!
1^87
224

227
246
237
180
226

265
273 1
256

274
254

263
274
251

263
274
250

262
274
248

260
273
247

259
272
246

261
274
246

259
273
244

259
273
243

259
272
246

259
245

261
274
246

261
274
248

284

284

282

282

281

279

279

280

279

278

281 !

280

282

84
82
81
86
84
84
Parity ratio ©
do
86
87
87
r
Revised.
9 Includes textiles, leather, paper, and printing and publishing industries; unfilled orders for other nondurable-goods industries are zero.
1 For these industries (food, beverages, tobacco, apparel, petroleum, chemicals, and rubber), sales are considered equal to new orders.
cf Data are from Dun and Bradstreet, Inc.
§ Includes sweetpotatoes and dry edible beans.
© Ratio of prices received to prices paid (including interest, taxes, and wage rates).

80

80

!

«.

89

Crops
Commercial vegetables, fresh market
Cotton. _ -.
Feed grains and hay
_
Food grains
Fruit
Oil-bearing crops
Potatoes §
Tobacco . - _ _
Livestock and products
Dairy products
Meat animals
Poultry and eggs
AVool
_

_

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




284
1

89

SURVEY OF CURRENT BUSINESS

S-6

May 195<

1955

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
March
BUSINESS STATISTICS

April

May

June

July

1956

August Septem- October Novem- December
ber
ber

January

February

April

March

COMMODITY PRICES—Continued
RETAIL PRICES
All commodities (TJ. S. Department of Commerce
index)
1935-39-100
Consumer price index (U. S. Department of Labor):
All items
1947-49=100.
Apparel
do
Food 9
do
Dairy products
do
Fruits and vegetables
do
M^eats poultry and
fish
do
Housing 9
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 PRICES cf
(77. S. Department of Labor indexes)
All commodities
1947-49-100
Economic sector:*
Crude materials for further processing
do
Intermediate materials, supplies, and components
1947-49 = 100.Finished goods©
do
Farm products9
_
do
Fruits and vegetables, fresh and dried
. _ do_ _ _
Grains
do
Livestock and live poultry.
._
do _
Foods, processed 9
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 9 _
do _.
Chemicals, industrial
do
Drugs and Pharmaceuticals §
do
Fats a n d oils, inedible _ _ _ _ _
__ _ do__ Fertilizer materials
_
do
Prepared paint
do __
Fuel, power, and lighting materials 9
do __
Coal
_.
do
Electricity.
_ _ _ _ do. _ _
Gas
do
Petroleum and products
_ _ _ do
Furniture, other household durables 9
do
Appliances, household
do
Furniture, household
do
Radio receivers and phonographs _ _ . do
Television receivers
do
Hides, skins, and leather products 9 - do
Footwear
do
Hides and skins
do
Leather
do
Lumber and wood products.
_.
do .
Lumber
do
Machinery and motive products 9
-do
Agricultural machinerv and equip
do
Construction machinery and equip
do
Electrical machinery and equipment.
_ do _ _ .
Motor vehicles
_.
do
Metals and metal products 9
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
j
Paper
__
do
Rubber and products
do
Tires and tubes
do
Textile products and apparel 9
do
Apparel
do
Cotton products _ _
do
Silk products _
.
do. _
Synthetic textiles
do
Wool products
_ _
_.
d o ..
Tobacco mfs. and bottled beverages 9 _ _ . do. Beverages, alcoholic _
do
Cigarettes
.
. _.
__do_ _ _
Miscellaneous
do
Toys, sporting goods
do
r

|

207.5

114. 3
103.2
110.8
105 4
112.0
102 3
119.6
110.3
104. 6
130.0
127.0
1 13. 5
106.6
127.3
119.8

207 9

114.2
103 1
111.2
104 6
117 5
103 0
119 5
110 3
104. 5
129 9
127.3
113 7
106.6
125.3
119.8

207.7

207 8

114.2
103.3
111.1
104 0
120.2
102 1
119 4
110.9
103. 7
130 3
127. 5
113 9
106. 5
125.5
119.9

114.4
103 2
111.3
104 1
119 5
103 8
119 7
110.7
103.8
130 4
127. 6
114 7
106.2
125. 8
119.9

I

208 6

114.7
103 2
112 1
104 7
121 9
103 7
119 9
110 8
103 6
130 4
127 9
115 5
106 3
125.4
120 3

208 1

208 9

114 5
103 4
111 2
105 7
111 3
102 9
120 0
110 8
103 2
130 5
128 0
115 8
106 3
125. 4
120 4

208 7

208 2

r

207 6

208

114 9
104 6
111 6
106 5
110 2
103 5
120 4
111 2
103 6
130 5
128 2
116 6
106 7
125 3
120 6

114 9
104 6
110 8
107 5
108 5
100 9
120 8
111 2
104 4
130 8
128 7
117 0
106 7
126 6
120 6

115 0
104 7
109 8
107 8
109 0
97 1
1°0 9
111 5
104 5
130 9
129 8
117 5
106 8
128 5
120 6

130
117
106
127
120

111 7

111.6

111 2

111 ^

114
104
109
107
110
94
120
111
103 4

131

2
9
8
3
P

208 2

207 7

114 6
104 1
109 2
107 3
112 6
(
)3 3
120 6
111 7
102 0
131 4
130 7
118 5
107 3
126 8
120 8

114 6
104 6
108 8
107 3
113 3
93 6
120 7
111 7
102 5
131 5
130 9
118 9
107 5
126 9
120 9

111 9

112 4

1

114. 7
8
0
9
8

104
109
106
114

j

99 8
120 7
111 7
103. 1
131 6
131.4
119 2
107.7
126. 7
121.2

I

110.0

110.5

110.3

109. 9

110.5

110.9

96.1

97.3

94.7

96.2

95.1

93.8

94.9

93.2

89 9

89,9

115.4
110.2
92.1
104.4
92 2
79.9
101.6
116.5
107.2
104.8
83.3

115.7
110.6
94.2
120.9
91.0
84.0
102. 5
116.8
106. 9
104.7
86.0

115. 7
110.2
91.2
118.7
92.4
78.4
102.1
118.3
104.0
104.1
85.7

115.7

91.8
104.7
90.3
83.1
103.9
117.6
104.6
104.5
91.4

116.8
110.5
89.5
98.7
86 7
79.4
103.1
117.6
106.0
104.6
88.5

117.6
110.9 1
88.1
99.5
78 6
75.5
101.9
115.1
107.8
105.0
86.3

118.6
111.5
89.3
102.1
81 4
75.5
101 5
114.4
104.3
106.8
87.5

119.1
111.3
86.8
92.9
82 4
71.8
100.2
114.8
105.0
107.4
81.6

119.1
111.6
84 1
102.6
79 8
62 2
98 8
115 1
105.9
107.7
77.8

119.4
111.5
82.9
95.6
82 7
59.3
98 2
115. 2
107.2
107.9
75.3

115.6
106.8
117.5
93.1
55.4
113.6
114.0
108.5
105.1
99.5
116.6
111.7
115. 1
107. 2
112.7
94.7
68.8
92.2
111.5
50. 7
82.1
121.4
121.8
126. 1
121.5
133. 8
126. 4
121.5
131.9
113.6
136. 2
134.3
121.9
136. 5
118.2
122.1
116.8
128.0
138.0
142.3
95.3
98.3
90.8
121.1
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
107.4
102.3
97.8
113.1
111.5
115.1
107.3
112.8
94.7
68.8
93.2
111.5
56. 9
83.6
122.4
122.9
126.3
121.5
134.1
126. 4
121.9
132.9
113.6
136.4
138.3
122.3
136.8
118.2
122.1
117.4
128.0
138.3
142.3
95.0
98.0
90.4
122.8
87.2
106.0
121.6
114.7
124.0
94.0
113.2 1

115.5
106.8
117.6
93.2
53.2
113.1
114.8
107.0
100.4
97.8
111.0
111.5
115.1
106. £
113.1
94. 7
69.0
92.9
111.4
53.3
85.0
123.5
124.2
126.7
121.5
134.3
126.5
122.0
132.5
113.5
135. 6
137.8
123.2
137.0
118.2
122.1
117.7
128.9
138 0
142.3
95.0
98.0
90.3
123.2
86.9
106.1
121.6
114.7
124.0
91.3
113.2 1

115.6
106.8
117.8
93.0
53.8
111.0
114.8
106.8
100.6
97.2
110.4
111.5
115.2
106.4
112.9
94.7
68.8
92.9
111.4
55.7
83.8
123. 7
124.7
127.1
121.5
134.7
126. 5
122.0
132.6 1
113.5 I
135.8
137.8
123.7
137.3
118.3
122.1
118.3
129.2
140 3
142.3
95.2
98 6
90.6
124.0
86.6
105.5
121.6
114.7
124.0
89 1
113.2

116.5
106.0
118.2
92.8
55.9
111.7
114.8
106.4
101.5
96.1
108.9
111.6
115.5
106.5
113.1
94.0
68.9
93.7
111.4
58. 2
85. 1
124.1
125.1
127.5
121.5
134.7
126. 7
122.0
136.7
113.6
143.1
139.5
125. 3
141.3
118.3
122.1
119.0
130.7
143 4
142 3
95.3
98 6
91 0
126.8
86 8
105.0
121.6
114.7
124.0
90 8
113.1

118.5
106.0
118 2
92,4
55.8
112.0
114.8
108.0
108. 1
95.5
107.8
114.0
116.4
106. 2
115.2
89.4
69.3
94.0
111.4
60.9
85 1
125.7
127 1
130.0
126.3
140.5
130.6
122.0
141 9
117.2
145 0
154.2
126.4
143. 9
119 8
122.1
120.5
131.0
151 7
147 2
95 4
98 6
92 5
126.8
86 7
103 0
121.7
114 7
124.0
90 3
113.6

119.0
106. 5
118.9
92.3
58.2
112.3
115.0
108.0
108.7
94.3
109.3
114.2
116.9
106.1
115.6
89.5
69.5
95.3
113 5
62 3
86 1
125. 4
126 8
131.4
126 7
142.1
130. 7
124.7
142 4
117. 3
145. 7
153.9
126.8
144.3
120 2
122.1
122.8
131 2
147 8
147 2
95 4
98 7
92 8
123 7
86 1
102 8
121 7
114 7
124 0
91 5
113.8

119 4
106 6
119 3
92 3
57.6
112 3
115 0
108.6
109 0
94.3
110 8
115.0
117 2
106. 3
116 4
89.8
69 5
96.4
115 4
60 2
87 7
125 0
126 4
132 5
126 1
142.4
131 4
126 5
142 9
117 4
146 0
153 9
125.2
144 5
120 2
122 1
123.2
131 7
150 6
151 8
95 6
99 0
93 2
120 8
85 8
102 8
121 7
114 7
124 0
88 0
114 3

119.8
106.6
119 4
92.3
56.6
112.3
115.8
109.3
109.4
93.8
115.5
115.6
117.3
105.8
116 5
89.8
69. 7
96.7
115 4
61 1
88 4
125 1
126 4
133. 0
126 5
143. 1
132. 1
126 7
143 9
117 1
147 2
155 8
125.4
144 6
120 2
122 1
123. 6
132 6
151 0
151 8
95 6
99 1
93 7
120 6
84 8
102 8
121 7
114 7
124 0
88 8

i

no.6

117.5
105.9
118. 1
92.4
54.6
112.1
114.8
107.2
102.2
96.6
106.8
113.0
116.0
106.6
114.3
89.2
68.9
93.8
111.4
58.9
85.0
125.1
126.4
128.5
122.4
138. 2
127.7
122.0
139.5
116.0
144.9
145.0
126.1
142.9
118.6
122.1
119.7
130.5
148 7
147.2
95.3
98 6
91. 7
128.7
86 7
103.9
121.7
114.7
124.0
89 8
113.4

115 n

93.3 1

91 5 :

120.0
111.8
84. 1
105.0
81 5
63.0
98 3 ^
115. 1
106. 1
108. 1
75. 7
120 4
106.3
120 0
92.6
55. 6
113. 1
117.0
111.0
109 9
94.3
121 1
117. 2
118 0
105.6
117 4
89. 7
69 7
96.7
115 7
50 6
89 5
126 3
127 6
133 3
126 8
143 2
132 4
126 7
145 1
117 3
149 4
156 6
127.0
145 3
121 1
127 1
124.8
134 6
148 4
151 8
95 7
99 5
93 8
120 9
5
84
102 6
121 7
114 7
124 0
89 6

IIS S

r

112.8

93.4

r
121.0
120.3
' 112.3
112.0
86. 6
86.0 j
106.5
98.2
84.5
82 9
67. 5
67.7
99.2
99.0
115.4
115.4
106. 1
106. 1
108. 6
108.9
74.6 !
76.1

120.6
106.4
119.9
92.0
54.4
113.0
119.1
111.2
109.9
94.3
122.0
117.5
118.2
105.7
117.3
89.7
69.9
97.1
115 8
58 2
89 9
126.7
128 2
133. 9
126 8
143. 5
133. 2
127 5
145 1
117 1
149 1
157 1
127.1
145 6
121 1
127 1
125.4
135 0
147 1
151 8
96 0
99 5
94 3
119 5
84 8
102 7
121 7 !
114 7
124 0
88 7

115 8

121.0 !
106. 5
120.0 •
91.9
55. 0
M12.8
119.1
110.9
110.1
94.3
122. 0
116.8
r
118.1
r
105. 3
117.5
89.7
69.9
97.7
IIP). 5
58.3
90.9
r
128. 0
r
129 9
134. 7
r
126 1
r
143. 5
133 6
129 0
r 14f) 5

117 1
r 149 4
r
162 0
r 127.

9

145 9
121 1
127 1

126. 8
136 2
146 2
1 51 8
95 9
99 7
94 1
119 5
r g4

5

102 1
121 7
114 7
124 0
88 2
r 11n 7 '

l

113.7
95. a

121. S
112.8
88.0
101.8
89. 5
70.8
100. f>
115.6
105.9
109.0
79.3
121.7

106. 9
120. 7
91.9
58.3
112.4
119.1
111.5
111.8
94.3
122.7
117.5
118.0
105. 2
117. 5
89.7
69.5
100.5
119.7
62 2
94.6
128.5
130.6
135. 6
126 2
144.6
135.3
129 1
147 6
117 2
151 0
163.1
128.7
146 0
121 9
127 1
127. 3
136 2
145 0
151 8
95 4
99 7
93 7
121 0
82 2
102 5
121 7
114 7
124 0
92 1
11 Z 7

Revised.
1 Index based on 1935-39=100 is 191.8.
9 Includes data not shown separately.
cfFor actual wholesale prices of individual commodities, see respective commodities. *New series. Data prior to February 1955 will be shown
later.
©Goods to users, including raw foods and fuels.
.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 1056
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

S-7

1955

March

April

May

June

1956

August

July

Septem- October Novem- December
ber
ber

January

February

March

April

COMMODITY PRICES—Continued
PURCHASING POWER OF THE DOLLAR
As measured byWholesale prices
Consumer prices
Retail food prices

_ __ _ _ _ _ _ _ _

1947-49=100
_ _ _ d o _.
do

90.9
87.5
90.3

90 5
87.6
89.9

91.0
87.6
90.0

90 7
87.4
89 8

90.2
87.3
89 9

90.5
87.2
89 2

89 5
87.0
89 6

89 6
87.0
90 3

89 8
87.2
91 3

89 9
87 0
91 1

89 4
S7 3
91 6

89 0
87.3
91 9

88 7
87 2
i 91 7

1

1

88.0

CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY
mil. of dol__

2,989

3,283

3,606

3,881

4,044

4.101

4,086

3, 953

3,617

3.177

2.847

2, 703

' 2, 980

3, 250

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

2,193
1,185
1,085
79

2,367
1,319
1,190
106

2,547
1,430
1,270
133

2,730
1,544
1,380
133

2,829
1,590
1,430
127

2, 858
1,587
1,435
119

2,844
1,561
1,410
119

2,765
1, 508
1,360
116

2,632
1,422
1,280
110

2,410
1,283
1.160
92

2,124
1,080
980
70

2,021
987
885
72

r

2, 333
1,207
1, 065
110

558
186
207
103
333

563
184
214
114
357

592
184
236
131
378

633
190
259
141
396

668
199
277
148
407

686
205
286
150
421

714
213
303
137
420

719
218
305
112
415

717
225
296
94
388

683
226
269
83
351

650
223
251
83
303

646
225
251
86
295

655
226
257
94
329

662
236
253
105
351

796
349
82
190
175

916
361
98
270
187

1,059
374
106
375
204

1,151
382
120
430
219

1,215
387
122
480
226

1,243
380
129
500
234

1,242
372
133
510
227

1.188
353
134
485
216

985
318
115
355
197

767
287
106
200
174

723
293
85
170
175

682
279
79
160
164

'783
303
87
'200
' 193

917
322
97
280
218

do
do
do
public
of dol
do _
do

3,464
2,464
1,349

3,525
2, 525
1,391

3,581
2,556
1,419

3,565
2,545
1,420

3, 566
2, 578
1,435

3,568
2,591
1.433

3,573
2, 599
1, 422

3,526
2, 551
1.374

3,518
2, 517
ij 345

3,489
2,486
1, 326

3,462
2,439
1,286

3,454
2,439
1, 265

' 3, 461
' 2, 460
r 1, 264

3, 499
2, 491
1, 271

604
121
374

624
120
376

629
119
374

621
117
374

641
116
373

658
115
373

679
114
372

683
112
371

680
111
370

669
110
369

664
110
369

687
110
369

707
111
370

731
111
370

do
do__
do

1,000
370
337

1,000
360
336

1,025
362
352

1,020
363
339

988
344
338

977
335
334

974
338
327

975
329
332

1.001
334
357

1.003
322
367

1, 023
333
378

1,015
332
364

' 1, 001
322
' 357

1, 008
322
350

75, 533
2,135
677
1,458

79, 184
2,322
676
1,646

75, 896
2,185
675
1,510

75, 141
2, 255
757
1,498

73, 130
2,272
761
1,511

64, 144
1,895
549
1,346

57, 673
2,035
621
1,414

61,135
1,863
551
1,312

54, 856
1,797
527
1,269

50, 551
1.921
730
1,190

51, 949
1. 858
675
1.183

58, 056
1,860
598
1,262

79, 196
2 ( 382
638
1,744

number
thous. of sq. f t _ _
mil ofdol

5,729
51,925
759

6,135
51, 989
706

6,107
51, 736
726

6,217
57,218
843

6,715
64, 544
893

5,715
47, 886
681

5, 540
49, 837
709

5, 863
49,156
692

4,686
46, 058
663

4,407
49, 426
727

4, 144
47, 895
661

4,505
44, 569
630

5,967
62, 191
881

numbe*"
thous of sq ft
mil of do!

67, 539
98, 806
990

70, 088
107, 850
1,070

66, 558
97, 248
1,011

65,459
95, 481
951

62, 799
94, 491
959

55, 514
82, 058
835

49, 211
72, 039
733

53, 033
76. 964
783

48, 346
73, 638
726

44, 302
70, 440
711

46,314
68. 147
694

51, 942
77, 139
799

70, 833
108, 060
1, 105

number- _
mil of dol

1,803
273

2,301
342

2,610
290

2,887
382

2, 960
332

2,447
299

2,316
368

1,772
277

1,398
280

1,394
359

1,105
356

1,218
337

1,902
311

number
mil. of dol..

462
113

660
204

621
158

578
79

656
88

468
79

606
224

467
111

426
129

448
124

386
147

391
93

494
84

264
307
260
291

290
336
253
286

296
332
245
280

294
320
253
290

281
301
257
296

271
277
259
278

253
258
250
256

249
246
260
252

244
243
270
252

244
233
301
273

247
242
300
290

267
285
306
318

291
334
287
317

mil of dol

1,987

1,449

1,727

1,882

1,684

1,240

1,786

1,526

1,369

1,693

1,593

1,781

2,379

1, 869

Highway concrete pavement contract awardsrcf
Total
thous of sq yd
Airports _ _ _ _ _ _
_ _
do
Roads
do
Streets and alleys
_.
...
do

9,504
2,021
3,988
3,495

8,470
2,855
2,279
3,336

8,760
1,242
3,305
4,213

9,292
950
3,966
4,376

5,787
944
2,237
2,606

9,346
288
5,321
3,737

5,798
490
2,246
3,062

5,999
1,052
2,413
2,534

7,171
1,895
3,345
1,931

8, 909
1, 150
5, 229
2, 529

6, 920
1,292
3,287
2.341

8,259
1,726
4,319
2,214

8, 362
798
4,547
3,017

7, 578
337
3, 764
3,477

134. 5
131.4
96.2
3.1

122. 7
121.9
87.7
.8

124.7
122.3
89.2
2.4

114.9
113.6
82.2
1.3

105.8
104.8
75.8
1.0

89.2
88.4
64.0
.8

' 75.0

78.0
76.8
55.2
1.2

96.0
94.4
67.2
1.6

106. 0
105.0
74.6
1.0

1,195.0 '1,120.0 '1,100.0

1,110.0

New construction (unadjusted), total

Public, total
Nonresidential building
Military facilities
Highway _ _ _ _ _ _ _ _ _
Other types

_

New construction (seasonally adjusted), total
Private, total ___
_
Residential (nonfarm)
Nonresidential building, except farm and
utility
mil.
Farm construction
_ __
_
Public utility
Public, total
Nonresidential building __ _
Highway

do
do _
do
do
do

2, 197
'• 1,112
995
' 87

CONTRACT AWARDS
Construction contracts awarded in 37 States (F. W.
Dodge Corp.):
Total projects
number
Total valuation _ _ _ _ _ _ _ _ _ _ __mil. o f d o L Public ownership
_ __
do
Private ownership
__
__ _do
Nonresidential buildings:
Projects _ _ _ _ _ _
_
__
Floor area
Valuation
_
_ _ _ _ _
Residential buildings:
Projects
Floor area
Valuation
_ _ .__
_
Public works:
Projects
Valuation
Utilities:
Projects
_
_ _
Valuation

Value of contract awards (F. R. indexes):
Total, unadjusted
1947-49=100
Residential, unadjusted__
_ _ _ _ _ _ _ do
Total, adjusted _
__
do
Residential, adjusted _
__
doEngineering construction:
Contract awards (ENR)§_

_

__

NEW DWELLING UNITS
(U. S. Department of Labor}
New permanent nonfarm dwelling units started:
Unadjusted:
Total, privately and publicly owned -..thousands..
113.8
132.0
137.6
Privately owned, total
do
112.8
130.5
135. 1
In metropolitan areas
do
86.0
95.4
97.3
Publicly owned
do
1.0
1.5
2.5
Seasonally adjusted at annual rate:
Privately owned, total t_
___ _ _
do
'1,314.0 ' 1, 374. 0 ' 1,398.0

1,371.0 '1,318.0

r

2
2
2

76.2
73.5
53.6
2.7

1, 346. 0 ' 1, 262. 0r 1,209.0 '1,179.0 '1,192.0

Building construction authorized, all permit-issuing
places:
New dwelling units, total... _ __ _.
thousands
115.6
119.3
115. 1
98.2
120.1
108.1
96.3
89.4
70.1
57.6
Privately financed, total
__ do _
114.7
117.4
118.5
97.4
113.0
106.3
95.3
69.7
87.7
56.6
Units in 1 -family structures
do
100.5
104.4
107.5
89.4
102.2
86.1
95.3
62.9
78.7
50. 2
Units in 2-family structures
__
do
4.0
3.3
2.4
3.2
2.9
2.2
2.7
2.1
2.2
1.9
Units in multifamilv structures
___ do_ .
10.1
7.8
9.8
5.5
7.9
8.3
7.0
4.6
6.9
4.5
Publicly financed, total
___do._.9
.8
2.8
.8
2.1
1.8
.4
1.0
1.7
1.1
r
Revised.
1
Indexes based on 1935-39=100 are as follows: Measured by— wholesale prices, 46 0 (April) consume r prices, 5 2.1 (Marc h); retail food, 45.4 (March).
2 Data include some contracts awarded in prior months but not reportec
§ Data for March, June, September, and December 1955 and March 1956 are for 5 weeks; ot her montltis, 4 week
cf Data for March, June, August, and November 1955 and February 1.56 are for 5 weeks; Dther morj ths, 4 we(Jks.
Revised back
DigitizedJ for FRASERto 1946 to incorporate new seasonal factors; unpublished revisions ( January L946-Febr uary 1955 are avail*ible upon request.



r 73. 7

'53.6
' 1.3

62.8
61.8
54.6
2.1
5.1
1.0

71.1
70 2
61.7
2.5
6.0
.9

SURVEY OF CURRENT BUSINESS

S-8
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

May 1050

1955

March

April

May

June

July

1956

August

Septem- October
ber

Novem- December
ber

January

February

March

129 0
405

April

CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES
Department of Commerce composite
1947-49 = 100
Aberthaw (industrial building)
1914 = 100.
American Appraisal Co., The Average 30 cities
1913 = 100
Atlanta
do
New York
_
do
Sin Francisco
do
St Louis
do
Associated General Contractors (all types). 1913 = 100..
F. n. Boeckh and Associates:?
Average, 20 cities:
Apartments, hotels, and office buildings:
Brick and concrete
U. S. avg. 1926-29 = 100..
Bi'ick 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 :c*
Buildine
1947-49=100.Construction
do
Bu. of Public Roads— Highway construction :

123.0
396

123.5

123.8

124.6
397

125.8

126.2

126.5
399

126.7

126.8

127 0
401

127 7

128 5

600
650
630
551
601
432

601
650
628
553
601
434

602
654
626
553
601
435

604
654
627
556
601
439

611
664
629
568
604
443

613
664
641
573
605
443

614
665
642
575
606
441

616
665
642
577
607
444

618
666
643
578
608
446

619
666
643
580
609
446

622
667
644
582
629
452

623
667
648
586
630
452

625
676
652
588 i
632
452

259. 0
254. 9
258. 6

260. 7
256. 2
260.0

261. 8
257. 3
261.3

263. 8
259. 5
263.1

266. 1
262.0
264.3

266. 7
262. 6
264.9

267.8
263. 6
265.7

268.5
264.4
266.2

269.1
265. 1
266.7

270.1
266. 1
267.3

271 2
267. 1
268.4

271. 6
267.7
270.5

272.4 !
268 7 !
271. 6

266. 7
262. 9
256. 8
258. 8
246.3

268. 5
264. 5
258. 1
260. 3
247.4

269. 7
265. 6
259. 6
261. 8
248.3

271. 5
267. 3
261.3
263. 8
249.8

274.0
271.9
262.3
264. 5
257.5

274. 6
272.4
263. 2
264.8
257.8

275. 7
273.3
264. 0
265. 4
258. 5

276. 3
273.8
264.6
266.4
259.0

276.8
274.4
265. 2
266. 9
259.4

278.1
275.3
265. 7
267. 3
260.8

279.4
276.3
267. 2
268. 1
261.3

279.4
277. 1
269. 0
270.5
261.8

280.4
278 4
269.9 1
271.4 !
263.3 !

259. 3
253.5

260. 7
254. 9

262. 3
256. 4

263. 9
258.3

264. 9
259.1

265. 6
259. 6

266. 3
260. 3

266. 8
260.8

267. 4
261.3

268. 0
261.9

269.1
262.7

271.2
265.2

272. 1
266 2 '

136. 2
142.9

136. 8
144.2

137.4
144.8

138.3
145.7

141.4
148.4

141.7
148. 5

142.0
148.8

141.8
148.6

141.6
148.6

142.1
149.3

142.9
!50. 2

142.9
150. 2

143.6 !
150.8 !

i

125.5

127 6

r

131. 1

129 4

!

132 4 !

CONSTRUCTION MATERIALS
Output of selected construction, materials, index:t
Iron and steel products
1947-49=100
Lumber and wood products
do

130. 1
136.4

133. 5
129.9

136.2
136.6

154.2
142.3

127.6
119. 6

144.1
146.0

149.5
139.7

145.0
135. 3

134.9
124.6

132.3
117.6

136 4
121.0

143.2
119.5

243, 346
514, 998

229, 813
548, 510

269, 487
552, 928

230, 031
520, 545

279, 312
617, 282

274, 376
589, 859

273, 4Q3
717, 334

275, 334
755, 018

261,480
620, 173

280, 660
569. 925

240, 723
535, 526

231,856
467,908 |

754

821

1,017

1, 061

1, 187

1,275

1,344

1, 304

1,417

1,246

1,181

1,138

1,016

1,069

1,157

1, 054

1,171

1,012

880

782

746

712

380
430
205

395
470
205

418
536
204

371
494
188

416
553
201

»<*
503

261
385
137

253
351
142

251
316
145

284
333
161

331

167

303
426
152

2,357
2,447
78, 632

2, 483
2, 457
71, 789

2, 636
2 8(51
70, 828

2, 463
2 209
61, 614

2,697
2,254
71, 103

2 522
2, 21>4
65, 970

2,387
2. 207
58, 778

2,316
2.308
68, 784

2,188
2. 403
89, 212

2, 059

2,050

2 271

96. 972

84, 041

89,315

38
312

187
176
r 153
r
183
r
151
r
36
r
312

193
171
155
213
157
34
313

201
182
158
221
170
36
331

159 9

184 8

38, 898
5,475
9, 653
8, 181
4, 569
3, 557
r
7, 462

37, 192
4,831
9, 117
8, 116
4,570
3,571
6, 986

REAL ESTATE
Home mortgages insured or guaranteed by —
Fed Hous. A d m . : Face amount
thous. of dol _ 269, 267
531,647
Vet. A d m . : Face amount
do
Federal Home Loan Bank?, outstanding advances to
702
member institutions
mil of dol
New mortgage loans of all savings and loan associa1,026
tions estimated total
mil of dol
By purpose of loan :
386
Home construction
do
427
Home purchase
do __
212
A 11 other purposes
do
New nonfarm mortgages recorded ($20,000 and under),
2, 455
estimated total
mil of dol
2, 595
Nonfarm foreclosures
number
88, 197
Fire losses
thous. of dol

908

ADVERTISING

Tide advertising index unadjusted

1947 49 — 100

185
170
144
198
148
r
46
r
299

r 185
r 163
r 142

48
342

190
177
149
199
144
r
46
r
316

183
154

173
167
144
174
151

277

r 45
r 277

180
164
146
185
158
r
45
r
287

191 0

195 3

202 8

191 5

150 6

176
166
140
r 47
r

r 186
r
153

r

r

r
r

r
r

173
7- 41
312

181
18fi
140
186
153
r
38
r
300

156.6

191 5

217 0

219 2

163 0

r

r

187

182

r 149
r 188

r
T

190
165
* 158
r
200
r 158

r

r

Television advertising:
Cost of facilities total
Automotive including accessories
Drugs and toiletries
Foods soft drinks confectionerv
Soaps cleansers etc
Smoking materials
All other

do
do
do
do
do
do
do

34, 574
3 725
7, 657
7, 991
3 728
3,601
7,873

32, 702
3,387
7,440
7,374
3,592
3,348
7,562

33, 450
3,773
7,565
7, 182
3,762
3,714
7,456

31, 724
3,511
7,771
7, 185
3,531
3, 468
6,258

29, 997
3, 670
8, 762
6, 069
3, 416
3, 354
4,725

30, 345
3, 358
8, 661
5, 947
3,849
3,203
5,328

33, 045
3. 620
8, 043
6,922
4, 134
3, 499
6,826

38. 086
4, 936
9, 363
7,836
4, 326
3, 652
7,973

38, 852
4, 935
8, 850
8,096
4,411
3, 764
8,794

39, 399
5 399
8, 782
8,427
4 432
3,869
8, 490

Magazine advertising:
Cost total
Apparel and accessories
Automotive incl accessories
Building materials
Druus and toiletries
Foods soft drinks confectionerv
Beer w^ine liouors

do
do
do
do
do
do
do

56, 966
4, 852
5, 308
3,447
4,995
7 916
2 472

67, 133
5, 267
7,112
4, 179
5,738
7 625
3, 108

66, 611
5, 492
6,621
3,906
5,867
7 352
3,225

53, 083
2, 993
5,815
3,153
5, 400
7 026
2,720

37, 329
918
4, 540
1, 690
4,221
6 388
2,084

40, 836
4, 197
3,762
1,699
3,744
6, 139
1,888

58. 673
7,515
3, 661
3,848
4, 845
7 347
2,354

71, 084
6, 193
5,926
3,610
6,241
9 223
3 555

68. 295
4,876
7, 504
2,258
6, 064
8 533
4,148

51, 249
3 850
4, 509
1, 102
4, 804
6 300
5 062

38, 656
2,020
4, 341
1,310
3,742
5. 749
1,440

do
do
do
do
do
do

2 958
2, 657
3 675
971
1, 486
16, 229

4,999
3,561
4 567
791
1,362
18, 822

5 131
3,842
4 983
1 098
1,622
17, 472

4,012
1,860
4 208
695
1,458
13, 742

1,748
715
3 200
492
1,272
10, 063

1,670
I, 496
3,451
540
1, 369
10, 881

3,674
2, 493
4 469
836
1, 524
16, 108

4,901
4,309
5 680
946
1,548
18, 954

4,790
3,516
4 943
778
1, 362
19, 523

2, 713
1,990
3 771
567
1,895
14, 685

873
1,298
3. 166
645
1,030
13. 042

2,055
1,551
4, 110
1,103
1,511
16, 960

4,794

4,927

4,548

3,402

3,395

4,205

5,032

5, 570

4,689

3,669

4,114

4.664

209 4

54, 298
3, 458
5,096
2,841
5,375
8,003
2,233

Household equipment and supplies
Household furnishings
Industrial materials
Soaps cleansers etc
Smoking materials
All other
Linaee. total
r

-thous. of lines. .

Revised.
§ Copyrighted data; see last paragraph of headnote, p. S-l.
cf Data reported at the beginning of each month are shown here for the previous month.
t Revised series.
t Data revised beginning January 1954; revisions prior to March 1955 will be showTn later.




r

r

!

'

191 :

DOMESTIC TRADE
Printers' Ink advertising index, adjusted:}
Combined index
1947-49 = 100
Business papers
do
Magazines
do
Newspapers
do
Outdoor
do
Radio (network)
do
Television (network)
1950-52 — 100

628
676
654
589
633
452

-.

.. : . "

5,249

144.1
150.0

SURVEY OF CURRENT BUSINESS

inr>fi
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

S-9
1956

1955
March

April

May

June

August

July

Septem- October Novem- December
ber
ber

January

February

March

April

DOMESTIC TRADE—Continued
ADVERTISING— Continued
Newspaper advertising:
Linage, total (52 cities)
Classified

thous. of lines.. 242, 549
57, 756
do

-

Displnv, total. .
Automotive
Financial
General
Ket^il

243, 834
59, 996

260, 381
64 921

243,718
61 286

212, 279
60 911

219. 750
63, 121

246, 154
62 714

273, 073
65, 684

268, 516
58, 567

242, 542
50 144

212, 200
57. 508

218, 335
56, 624

251,255
63, 286

184, 793
15, 292
3 530
34 414
131, 557

183, 838
17 079
3 382
33 243
130 135

195, 460
18 499
3 278
36 696
136 986

182
19
3
34
125

151 9
368
15 26
3 772
24 968
107 402

156
15
2
23
114

183
16
3
30
133

207,
19
3
39
144

209 949
20 045
3 440
38 514
147' 950

192
12
3
27
149

154,693
14 220
5 200
26 955
108 318

161,711
15 161
3 235
31 489
111 826

187, 969
15 494
3 484
36 151
132 840

_ _ . . .. -do _
- do
do
do
do _.

432
541
203
278
409

629
914
657
800
259

440
054
007
849
530

390
797
678
778
137

398
568
491
128
281

PERSONAL CONSUMPTION EXPENDITURES
Seasonally adjusted quarterly totals at annual rates:
Goods and services, total- - - - bil.ofdol
Durable poods, total 9
-- ... -- - do _
Automobiles and parts
.-_ ... _do _ _
Furniture and household equipmentdo ,
Nondurable poods, total 9
-Clothing and shoes
Food and alcoholic beverages
Gasoline and oil

-

...do _
do
do
do

Services, total 9
Household operation
_ . _. Housing _
- Transportation
_ - .

do__.
do __
do. __
do _ _

245. S

250 5

255 7

34.4
16.4
13.9

35. 1
1 6. 6
14 2

36 9
18.0
14 7

122.4
19 8
74 o
7 5

125
20
75
7

89.0
13.1
30.6
7.4

3
5
9
7

127
20
77
7

90 2
13 4
31 0
7.4

1

257 2

0
4
5
7

258. 8

34 8
16.0
14 3

j

33.9
14.6
14 9

128
21
78
7

91 8
13 7
31 4
7.4

1

129
20
79
8

8
2
3
9

9
7
1
1

95. 1
14 4
32.4
7.6

93. 6
14 2
31 9
7.5

RETAIL TRADE
All retail stores:
F^timated sales (unadjusted) total

mil of dol

14 704

15 622

5, 430
3,305
3,170
135

5,704
3, 431
3, 271
159

5 845
3,409
3, 252
157

6 125
3, 536
3, 355
180

5 720
3 27
3,' 080
191

Furniture and appliance group _
.. do
Furniture, homefurnishings stores .. - do .
Household-appliance, radio stores
do

761
456
305

757
466
292

809
510
299

847
52°
325

Lumber, building, hardware group
Lumber, building-materials dealers
Hardware stores
-

795
599
196

900
672
228

998
752
246

do
do
do
do
do _
do

9 274
' 796
1 55
328
167
146

9 917
986
194
384
199
209

Jo
do
do
do
do

409
1, 026
3 527

15 692

r 15 864

15 905

15 824

15 894

19 268

13 866

13 686

5 980
3, 435
3,252
182

5 900
3, 367
3,201
167

5, 564
2 964
2, 786
177

5 539
3^039
2, 866
172

6 186
3, 118
2,910
208

4 690
2.744
9
626
118

4 775
2,812
2, 688
124

825
492
333

854
514
340

822
490
331

909
562
348

927
584
343

1 163
704
459

761
462
299

464
293

1,040
798
242

973
735
238

1 032
795
937

1 037
786
251

1, 047
788
259

958
715
244

947
630
317

701
526
175

698
527
171

843
636
2() 7

9 623
'878
184
352
166
177

9 608
868
1°7
326
167
178

9 678
756
160
287
156
153

9 642
' 740
144
281
165
150

10 005
910
166
342
206
197

10 260
'974
193
374
9
27
180

10 *V
988

9 176

382
292
165

13 083
1 598
402
621
353
222

161
292
143
125

8 911
667
137
278
135
116

2, 983
944

416
1, 080
3 689
3 127
988

419
1,136
3 514
2 950
1, 046

425
1, 168
3 591
3' 025
1, 066

434
1,274
3 761
3 198
L117

432
1,282
3 617
3' 055
1, 108

425
1,220
3 766
3 205
1,049

437
1,204
3 705
3 146
1,083

432
1, 126
3 648
3 078
1, 085

590
1,182
4 1 68
3 542
1,104

459
1,084
3 517
2 986
1,012

451
1,041
3 446
2 927
983

1 464
796
107
219
342
256

1 650
897
94
278
381
266

1 584
866
99
243
376
268

1 565
852
102
248
363
266

9

1 41
745
82
244
342
289

1 562
833
111
255
364
287

1 674
920
112
266
309

1 807
993
116
282
416
312

1 95P
1, 076
1 r>8 i
9Q1
432
319 !

3 010
1, 617
183
59 5
616
493

1 278
693
89
191
305
274

1 271
667
97
206
300
263

r ^ 649
^884
106
274
386
306

do

15, 060

15, 251

15, 368

15, 345

15, 484

15 662

15 840

15 777

15 808

15 795

15 658

15 346

15 740

Durable-goods stores 9

do

Automotive group

do

5 458
3 169
3, 020
149

5 522
3 202
3,044
158

5 507
3 108
2,955
153

5 570
3 171
3,011
160

5 640
3 148
2, 963
184

5 763
3 363
3, 192
171

5 840

5 764

o 689

5 677

5 456
2, 855
1 53

2, 881
169

Furniture and appliance group
do
Furniture, homefurnishings stores. __ _-do
Household-appliance, radio stores, ... -do

836
496
340

837
504
334

826
498
329

823
503
320

887
536
352

897
492
336

543
326

539
319

r
)40
337

Lumber, building, hardware group
Lumber, building-materials dealers
Hardware stores

863
645
219

890
661
929

955
719
236

938
707
231

923
684
239

9,602
867
183
334
193
157

9,729
889
194
342
183
169

9,860
905
197
350
188
170

9,775
878
196
338
180
164

418

427
1,141
3, 525
2,980
1,023

428
1, 126
3,636
3, 069
1,026

431
1,140
3, 635
3,063
1,030

i 14 850

502
306

Durable-goods stores 9
do
A utom oti ve group
do
Motor-vehicle, other automotive dealers, -do
Tire, battery, accessory dealers
do

Nondurable-goods stores 9
Apparel croup
_..
Men'^ and boys' wear stores
Women's apparel, accessory stores
Familv and other apparel stores ..
Shoe stores
- -Drug and proprietary stores
Eating and drinking places
Food group
Grocery stores
Gasoline service stations

-

General-merchandise group
Department stores, excl. mail-order d"
Mail-order (catalog sales)-_
Varietv stores
Other general-merchandise stores
Liquor stores _ _.
Estimated sales (adjusted), total

do
do
do

do
do
do
do
.do. - -do

Motor-vehicle, other automotive dealers- _do
Tire, battery, accessory dealers., ... _do- -

Nondurable-goods stores 9
Apparel group
Men's and boys' "wear stores.-.
Women's apparel, accessory stores
Familv and other apparel storesShoe stores
Drug and proprietary stores
Eating and drinking places
Food group
... _
Grocery stores
Gasoline service stations

do
do
do
do
do
do ..
do
do
do

do
_ . do
. . . do .
do
do

1,083
3,602
3, 053
1,007

15 468

15 734

15 398

9]Q

r

5 421
3, 195
3, 044
151

10 443
r 1 003

r 479
T
1,114
r 3 t)39
r 3 370

T

1,078

o' op i !

3 ' 9^3

q' A9A

3, 068
165

2, 869
151

89A

497
329

849
517
332

3,090 i
171 !
j
838 '
525 !
313

916
684
232

950
705

963
725

935
710

929
689

938
699

899
674

925
692

9, 844
905
193
353
190
168

9,900
892
194
339
186
173

10, 000

10, QAO
013

10,119

10, 118

10, 202

9,992

10, 274

193
372
189

191
364
200

177
368
2oi

1 ^Q

200
368
189
169

439
1,158 |
3, 561
3, 004
1,034

442
1,165
3,683
3, 114
1,026

449
1,167
3, 696
3,133
1,033

459
1,158
3, 726
3, 176
1,083

465
1,171
3,747
3, 186
1,082

455
1,152
3,680
3,128
1,088

485
1,192
3, 756
3, 205
1,154

183
355
201 j'
169
447 !
1, 159
3,686
3, 121
1, 042

354
200
172
447
1,164
3,728 j
3, 164 !
1,078

Rf\Q

General-merchandise group--. __
do _.
1,615
1,677
1,676
1,630
1,723
1 671
1 693
1 711
1 714
1 672
1 700
1 645
1 702
Department stores, excl. mail-order
do
861
912
889
877
958
901
923
926
914
936
913
878
913
Mail-order (catalog sales) _ _ _ do
112
104
111
119
109
112
113
110
110
117
115
113
9
Of!0
970
Variety stores.- . . . - . _
_. ... do
258
268
271
268
276
979
276
282
290
286
73
Other general-merchandise stores
do
384
393
404
377
378
381
385
378
384
370
385
403
385
Liquor storesdo
Til
273
292
296
294
303
308
307
306 '
300
318 '
298
315
Revised.
i Advance estimate.
9 Includes data not shown separately,
d"Correction: 1951 monthly average for combined department-store and mail-order sales (old series) shown in the 1955 edition of BUSINESS STATISTICS should read $927,000,000.




1

1,193

i M nOfi
1
1,081
i 829

c At\(\

980

183
346
192
173

1 gi 9

180
403
216
204

3,107
173

870
546
327

2, 991
i 793

r 808

3,214
171

3

1

:::::::::

SURVEY OF CURRENT BUSINESS

S-10

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
March
BUSINESS STATISTICS

May 195i
1956

1955
April

May

June

August

July

Septem- October Novem- December
ber
ber

January

February

March

April

DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
All retail stores— Continued
Estimated inventories:
Unadjusted, total
Durable-goods stores
Nondurable-goods stores

23, 520
10, 950
12, 570

23, 570
11, 280
12, 290

23, 390
11, 240
12, 150

22, 840
10, 920
11, 920

22, 730
10, 850
11, 880

23, 080
10, 760
12, 320

23, 300
10, 390
12,910

23, 890
10, 390
13, 500

24, 780
10, 930
13, 850

22, 440
10 410
12, 030

22, 790
10, 870
11, 920

23, 840
11, 330
12, 510

24, 540
11,680
12, 860

do
do
do
do
do

22, 590
10, 450
3,900
1,890
2,290

22, 760
10, 540
3,960
1,910
2,290

23, 000
10, 750
4,130
1,920
2,310

23, 190
10, 780
4,100
1,950
2,330

23, 370
10, 840
4,160
1,960
2,350

23, 350
10 850
4,150
1 960
2 350

23, 230
10 720
3,970
1 970
2 380

23, 290
10, 720
3,990
1,960
2,380

23, 590
11 000
4, 250
1 980
2,360

23, 900
11 230
4 470
1 970
2 380

24, 080
11,390
4,680
1,980
2,340

24, 210
11, 450
4,710
2 010
2, 350

23, 850
11,220
4,490
1 980
2,360

-do
do
do
do

12, 140
2,770
2,310
3,870

12, 220
2,800
2,380
3,830

12, 250
2, 740
2,420
3,860

12, 410
2,740
2, 450
3,990

12, 530
2,770
2, 500
4,020

12, 500
2,730
2, 510
4,040

12, 510
2,760
2,480
4,050

12, 570
2,780
2,540
4,050

12, 590
2,760
2, 570
4,080

12, 670
2,720
2 570
4, 170

12, 690
2,660
2,600
4,170

12, 760
2,690
2,580
4,200

12, 630
2, 660
2,570
4,120

do

2,632

2,906

2,721

2,778

2,729

2, 713

2 896

2,949

2,994

4 029

2,449

2,464

3,058

Apparel group 9
Men's and boys' wear stores
"Women's apparel accessory stores
Shoe stores

do
do
do
do

174
14
67
56

212
17
81
79

178
15
72
62

176
16
66
64

146
11
60
54

143
9
61
50

185
12
69
68

196
17
76
62

201
20
78
59

316
33
128
91

128
11
48
43

121
9
48
40

222
16
84
78

Drue" and proprietary stores
Fating and drinking places
Furniture homefurnishin cr s stores

do
do
do

60
56
32

64
56
26

62
58
31

62
60
28

65
62
27

62
63
30

63
62
27

65
63
33

63
60
35

99
63
33

62
56
25

62
56
24

69
61
30

687
327

807
389

760
377

774
378

706
346

781
369

827
404

874
425

938
428

1,470

596
281

600
271

792
366

93
170
1,166
61
49

116
215

120
200

130
212

1, 253

1,135

68
57

75
56

80
63

2,778

2,774

2,825

2,784

mil. of dol
do
do

Adjusted total
Durable-goods stores
Automotive group
Furniture and appliance group
Lumber building hardware group
Nondurable-goods stores Apparel group
Food group
General-merchandise group

_

Firms with 11 or more stores:
Fstimated sales (unadjusted) total 9

General -merchsndise group 9
do
Department stores
do
Dry-goods, other general-merchandise stores
mil of dol
Variety stores
do
Grocery stores
do
r
Lumber buildinc'-mate ials dealers
do
Tire battery accessory stores
do
Estimated sales (adjusted) total 9

do

Apparel group 9
Men's and boys' wear stores
"W omen's apparel accessory stores
Shoe stores
Drug and proprietary stores
Eating and drinking places
Furniture homefurnishings stores

do
do
do
do
do
do
do

General-merchandise group 9
do
Department stores
do
Dry-goods, other general-merchandise stores
mil of dol
Variety stores
do
Grocery stores
do
Lumber building-materials dealers
do
Tire battery accessory stores
do
Department stores:
Accounts receivable, end of month:
Charge accounts
1947-49=100 Installment accounts
do
Ratio of collections to accounts receivable:
Charge accounts
percent
Sales by type of payment:
Cash sales
Charge account sales
Installment sales

percent of total sales. _
do
do

Sales unadjusted total U S J
Atlanta
Boston
Chicago
Cleveland
Dallas
Kansas City
Minneapolis
New York
Philadelphia
Richmond
St Louis
San Francisco

- - _

Sales adjusted total U. S.J
Atlanta
Boston
Chicago
Cleveland
Dallas
Kansas City

1947-49=100

_

___
-

105
186

110
190

1,164

178
15
68
61
63
57
30

175
15
70
60
66
57
28

181
16
71
61
64
57
28

172
15
67
57
64
59
28

80?
380

795
379

800
369

780
359

115
205
1,168
70
55

1,170

132
266

137
267

139
267

48
15

44
15

44
44
12
100

112
205
69
58

117
211
1,193

73
55

113
206

1,184

70
55

103
181

117
192

1,212

1,121

1,225

1,200

1,145

78
59

70
58

58
85

53
44

2,820

2,898

2,916

84
64

2,809

2,836

2,875

179
15
72
60
66
59
30

177
15
70
59
64
60
29

181
15
70
61
66
60
28

182
16
72
60
65
60
30

189
16
73
64
66
62
29

185
16
74
60
70
62
28

814
383

819
386

839
397

800
376

833
388

820
384

121
205
1,161

119
210

1,191

71
60

71
58

135
266

125
266

125
268

45
15

46
15

43
14

45
44
11

45
44
11

46
43
11

114

116

110

126
215
1,203

82
156

221
456
1,417

77
69

81
57

87
144

141
224
1,175

120
205
1, 185

121
216

120
208

1, 208

1,240

117
215

1, 166

1,389

52
45

61
55

2,936

2,905

2,958

184
14
70
66
67
60
33

176
13
70
59
66
62
29

185
14
72
65
71
62
28

861
417

829
397

836
395

124
213
1,218

118
208

125
216

1,239

1, 261

69
60

r 70

59

66
57

163
296

217
333

178
330

150
324

146
321

47
15

47
15

46
15

43
14

44
14

47
16

44
44
12

44
43
13

44
44
12

46
43
11

45
42
13

44
43
13

44
43
13

123

128

148

212

95

' 93

' 110

255
206
204
205

114
'84
87
90
111
92

P 146
p 91
p 108
P 106
P 134
P 112

69
60

68
59

69
59

137
274

148
282

46
14

45
15

45
42
13

45
42
13

98

105

69
61

141
108
114
112
136
123

134
111
116
110
133
119

121
107
112
104
120
113

122
82
96
96
123
111

129
86
103
104
129
117

136
120
123
116
131
127

154
115
126
125
146
131

165
141
147
147
155
142

211

113
87
91
91
114
93

' 102

111
101
97

108
99
109
125
118
112

108
101
114
129
120
116

95
100
107
118
106
113

89
77
90
107
102
107

102
82
92
112
109
118

119
111
124
138
122
123

126
116
125
140
135
126

126
139
159
164
149
145

180
194
213
237
208
217

83
90
90
95
95
100

84
85
91
96
95
97

do -

115

119

117

114

124

118

121

122

122

123

124

'119

'121

do
do
do
do
do _ _
do

133
107

142
108
119
116
142
126

137
111
117
113
134
120

136
107
114
108
132
118

152
114
122
124
145
136

143
107
115
114
139
124

140
112
118
116
131
127

148
114
120
120
138
125

142
116
121
118
136
124

147
114
121
119
124

147
111
120
117
144
123

143
111
112
116
139
117

110
110
122
132
125
123

116
114
120
138
126
129

108
105
118
129
122
124

p
p
p
P
p

P 113

p 143
p 102
p 123
p 116
P144
^126

do
do
do _ _
do
do
do__ do
do__
do
do
do
do.

129
90
'97
93
r 122

104
88
93

••113

107

' 137

120

107
112
109
103
111
108
107
107
^Minneapolis
do
104
106
108
102
108
109
' 106
103
New York
do
-•112
114
121
114
120
120
115
115
Philadelphia
- _ do___
134
134
132
136
129
128
126
123
Richmond
do
119
122
120
132
122
120
108
116
St Louis
do
122
123
126
118
126
120
118
'119
San Francisco
do
' Revised.
» Preliminary.
9 Includes data not shown separately.
t Data for 1946-55 have been revised to reflect current seasonal patterns and to allow for changes in the samples used in computing the
lor total United States appear on p. 24 of the October 1955 SURVEY; unpublished revisions for the districts are available upon request.




622

110
110
121
134
124
125

'247

'147

unadjusted indexes.

P95
p98
p
P
p
P

111
125
114
109

p 122

112
107
116
137
127

P128

Revisions beginning with 1946

SUKVEY OF CURRENT BUSINESS

S-ll

1955

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

March

April

May

June

July

1956

August September

Novem- DecemOctober
ber
ber

January

February

March

April

DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
Department stores— Continued
Stocks, total U. S., end of month:J
Unadjusted
Adjusted

1947-49—100
do

129
124

127
123

121
127

119
127

126
129

135
129

145
129

148
131

119
134

122
137

131
138

P 139
P135

Mail-order and store sales:
Total sales, 2 companies
Montgomery Ward & Co_
Sears Roebuck & Co

thous. of dol__ 319, 293 r r376,188
76, 464
88, 746
do
242, 829 287, 442
do

370, 491
84, 767
285, 725

377, 031
83, 922
293, 109

347, 362
74, 182
273, 179

380, 967
87, 181
293, 786

391, 258
92, 071
299, 187

414, 465
102, 765
311, 670

431, 702
110, 174
321, 527

570, 391
146, 155
424, 236

286, 607
58, 523
228, 084

279, 770
62, 142
217, 628

348, 888
83, 275
265,612

127
124

370, 929
96, 505
280, 424

WHOLESALE TRADE
^ales estimated (unadj ) total
Durable-goods establishments
Nondurable-goods establishments
Inventories estimated (uriadj ) total
Durable-goods establishments
Nondurable-goods establishments

' 9 530 10, 240
3,540
3,230
6, 700
6, 300

9 700
3,270
6,430

do
do
do

9 140
3,220
5,920

9 320
3 270
6,050

10 110
3 450
6, G60

9 660
3 190
6 470

10 540
3 570
6 970

10 730
3 640
7,090

10 500
3 590
6 910

10 600
3 530
7 070

10 180
3 410
6 770

9 360
3 120
6,240

11 620
5,940
5,680

mil of dol
do
do

11 570
6,000
5,570

11 550
6 060
5,490

11 520
6 040
5,480

11 660
5 950
5,710

11 870
5 970
5 900

12 180
6 000
6 ISO

12 600
6 060
6 540

12 690
6 060
6 560

12 290
6 080
6 210

12 480
6 ? 280
6 200

12 570
6 470
6, 100

12 640
6, 680
5, 960

r

EMPLOYMENT AND POPULATION
POPULATION
Population, continental United States:
Total incl Armed Forces overseas

164, 367

thousands

164, 595

164 799

165, 023

165, 248

165, 495

165, 762

166 022

166 280

166, 512

166 738

166 966

167 181

167 405

EMPLOYMENT
Noninstitutional population, estimated number 14
years of age and over, total©
thousands

117,051

117,130

117,236

117,318

117,404

117,517

117, 634

117, 749

117,864

117 995

118 080

118, 180

118,293

118, 367

do

66, 840

67, 784

68, 256

69, 692

70, 429

70, 695

69, 853

70 250

70, 164

69 538

68 691

68 396

68, 806

69, 434

do
do
do
do
do

63. 654
60, 477
5,692
54, 785
3, 176

64, 647
61 685
6, 21 5
55, 470
2 962

65, 192
62 703
6, 963
55, 740
2 489

66, 696
64 016
7,681
56, 335
2, 679

67, 465
64 994
7,704
57, 291
2 471

67, 726
65 488
7,536
57. 952
2,237

66, 882
64 733
7, 875
56, 858
2, 149

67, 29?
65 161
7 905
57, 256
2 131

67, 206
64 807
6 920
57, 887
2 398

66 592
64 165
5 884
58, 281
2 427

65 775
62 891
5 635
57, 256
2 885

65 490
62 576
5 469
57, 107
2 914

65 913
63 078
5 678
57, 400
2 834

66, 555
63 990
6, 387
57, 603
2, 564

do

50,212

49 346

48 979

47, 626

46, 975

46, 823

47, 781

47 499

47, 701

48 457

49 388

49 784

49 488

48, 933

do
do
do
do

48, 212
16,201
9,323
6,878

48, 643
16 255
9,418
6 837

48, 918
16 334
9, 501
6 833

49, 508
16, 577
9, 624
6,953

49, 420
16, 475
9,511
6,964

49, 858
16, 807
9,578
7,229

50, 322
16 915
9, 645
7 270

50, 471
16 999
9' 762
7 237

50, 629
17 049
9 867
7 182

51,311
17 026
9 889
7 137

49,
16
9
7

739
95
38
208

739
97
37
205

742
97
34
208

760
99
37
211

749
90
35
209

754
93
35
208

758
100
3-1
209

751
100
35
209

754
100
35
211

754
100
36
212

747
100
36
212

748
101

r

213

r

296
102
2,255
3, 966
1,157
121
744
700
41
554

295
105
2,399
3 939
1, 159
120
748
667
42
554

297
106
2,526
3 997
1,196
120
755
674
42
557

306
107
2,615
4,081
1,224
118
760
715
42
565

308
108
2,701
4, 113
1,240
112
762
727
42
571

309
109
2, 746
4, 137
1,246
113
773
731
42
572

305
110
2, 748
4 152
1, 242
116
791
72S
42
566

299
108
2 685
4 127
1 236
115
800
715
43
561

302
107
2 580
4 143
1 225
115
809
735
42
560

302
104
2 422
4 165
1 228
114
815
738
42
560

297
103
2 267
4 089
1 198
114
788
737
42
558

296
102
r
2 263
r 4 088
1 192
111
784
743
42
559

10, 408
2,813
7 595
1,305
1,471
755

10, 549
2 804
7 745
1 372
1,478
763

10, 534
2 801
7 733
1 342
1,487
768

10, 643
2 826
7 817
1 349
1, 503
777

10, 633
2 858
7 775
1 313
1, 506
785

10, 638
2, 863
7 775
1 315
1,499
788

10, 824
2 870
7 945
1 395
1,516
785

10 909
2 909
8 000
1 444
1 527
785

11 126
2 942
8 184
1 570
1 555
790

11 753
2 959
8 794
1 953
1 587
802

__
_
-

2,150
5,571
463
325
154
6,922

2,161
5,674
480
329
157
6,927

2,171
5,733
488
333
160
6,881

2,206
5,775
514
338
161
6 851

2,237
5,816
574
339
156
6 696

2,241
5,818
575
338
151
6 717

2 923
5 791
509
336
155
6 911

2 216
5 730
472
334
157
7 054

2 213
5 690
461
333
156
7 074

2 219
5 657
458
331
153
7 315

7 061

r 7 J07

p 7 109

do
do
do
do _ _

48, 760
16, 229
9,300
6,929

48, 882
16, 380
9,405
6,975

49, 242
16, 545
9,523
7,022

49, 514
16 688
9,627
7 061

49, 638
16 635
9,618
7,017

49, 718
16 661
9,615
7,046

49 835
16 691
9, 634
7 057

49 950
16 822
9,736
7 086

50 135
16 962
9,826
7 136

50 228
16 967
9,847
7 120

50 287 r 50 292
16 907 r 10 g50
r
9,822
9, 764
7 085 r 7 092

r 50 210
r 10 79^
r
9, 711
r 7 087

P 50 377
P KJ $49
P 9, 745
P 7 104

Mining
. __
do _ _
Contract construction cf
do
Transportation and public utilities
do
Wholesale and retail trade, .
__
do
Finance, insurance, and real estate
do
Service and miscellaneous .
. do
Government cf
do

739
2,483
3,986
10, 633
2,161
5,656
6,873

743
2 502
3,946
10, 600
2,161
5,674
6 876

749
2 539
4,000
10, 655
2,171
5,676
6 907

756
2 514
4,064
10, 711
2,184
5 690
6 907

757
2 546
4, 082
10, 765
2,204
5,730
6 919

747
2 519
4,106
10, 797
2,208
5 732
6 948

754
2 537
4, 135
10 824
2,223
5 705
6 966

751
2 512
4,116
10 801
2,227
5 730
6 991

750
2 493
4,132
10 868
2,224
5 719
6 987

750
2 487
4,' 154
10 946
2,230
5 714
6 980

747
2 519
4,138
10 994
2,236
5 717
7 029

12, 778
7,375
94

12, 816
7,457
91

12, 882
7,530
90

13, 086
7,630
89

12 951
7,499
89

13 262
7,553
88

13 373
7, 623
87

13 446
7' 729
84

13 498
7 839
84

13 464
7 847
83

13 272 r 13 224
7 758 r 7 O9g
83
81

Total labor force, including Armed Forces
Civilian labor force, total
Employed
Agricultural employment
Non agricultural employment
Unemployed

„

Not in labor force
Employees in non agricultural establishments:
Total unadjusted (U. S. Dept. of Labor)
Manufacturing
Durable-goods industries
_-_
Nondurable-goods industries

Mining, total
do
Metal ^
_ do - _
Anthracite
do
Bituminous coal
_. __
.
-do
Crude-petroleum and natural-gas production
thousands
Nonmetallic mining and quarrying
do
Contract construction
. . _
do. .
Transportation and public utilities 9
do
Interstate railroads _
_
do _ .
Local railwavs and bus lines
do .
Trucking and warehousing *
do _ . _
Telephone
do _ _
Telegraph _ _
do _ _
Gas and electric utilities
do
Wholesale a n d retail trade _ _ _ _ _ _ _ _ _ _
Wholesale trade
Retail trade 9
General-merchandise stores
Food and liquor stores
_
Automotive and accessories dealers

do ___
do
do
do
do
do

Finance, insurance, and real estate
Service and miscellaneous 9
__
Hotels and lodging places,
Laundries _ _ _ _ __ _ _ _ _ _ _ _
Cleaning and dyeing i^antS-Government

do..
do
do.do do__
do

Total, adjusted c?-Manufacturing
_
Durable-goods industries
Nondurable-goods industries

_ .

.

Production workers in manufacturing industries:
Total (U. S. Dept. of Labor)
__ . __thousands_
Durable-goods industries.
do__
Ordnance and accessories
do

615 ' 49, 551 49, 783 p 50, 002
r
16 823 ' 16 769 pl6 728
842
r 9, 738 p 9 763
814 r 9 776
r
7 031
p 6 9(55
028 r 7 047

10 833 r 10 732
2 921 r 2 920
7 912 r 7 g ] 2
1 374 r ] 31Q
1 563 r i 509
777
783
2 214
5' 003
' 454
331
151
7 020

750

101

P 755
P 104

211

p 208

104
p 111
' 2 329 p 2 445
r 4 112
P 4 1^7

r 10 835
2 919
r 7 gig

r i 355
r 1 571

r 771

2 227
5' 609

r 2 241

r 5 040

P 10
P2
P7
P i
P1
P

843
909
9-^4
34$
583
706

P 2 256
p 5 739

464
329
150

r 750
752
r 2 557
r 2 505
' 4, 136 '4,133
r jo 974 T 10 930
2,249
r 2, 252
r 5 720
5 723
r
7 045
7 056
r

13 157
r 7' 045

P
P2
p 4,
p 11
p 2,
p 5
P 7'

759
550
134
034
256
739
056

p 13 097
P 7' 654

P80
Revised.
* Preliminary.
J See corresponding note on p. S-10.
eBeginning July 1955, estimates relate to the calendar week which contains the 12th of the month (except December 1955 estimates which cover the week of Dec. 4-10); earlier data relate
to the calendar week containing the 8th of the month.
9 Includes data for industries not shown.
*New series. Figures relate to establishments primarily engaged in local or long-distance trucking, transfer, and draying services or in the storage of farm products and other goods,
d* Reflects revisions for seasonally adjusted estimates of total employment and the construction and Government divisions; revisions beginning January 1953 will be shown later.
r




'81

SURVEY OF CURRENT BUSINESS

S-12

May 1936

19,55

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

March

April

May

June

July

19 56

August

Septem- October Novem- December
ber
ber

January

February

i
March ] April
!

EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT— Continued
Production workers in mfg. industries — Continued
Total (U. S. Dept. of Labor)— Continued
Durable-goods industries — Continued
Lumber and wood products (except furniture)
thousands..
Sawmills and planing mills. _ do . _.
Furniture and fixtures
do _
Stone, clay, and glass products
do
Primary metal industries 9
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-Machinery (except electrical)
_ . - do - . _
Electrical machinery
do
Transportation equipment 9
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

634
355
298
442
1,057

651
360
297
450
1,076

683
373
298
456
1. 096

727
389
300
466
1,115

720
387
298
460
1,098

731
393
313
472
1,112

726
387
320
479
1,134

716
381
323
478
1, 135

696
372
323
477
1, 151

665
36?
321
470
1, 160

645
354
317
464
1, 160

520

531

544

557

560

564

568

559

564

568

567

570

53

54

54

55

44

51

55

55

55

55

55

55

860
1,144
803
1,447
773
520
108
40
219
377

868
1,164
804
1.462
789
518
107
41
218
376

877
1,174
809
1, 456
789
509
109
42
211
379

884
1,182
816
1,447
782
503
113
41
220
385

863
1,160
802
1,420
761
502
108
42
219
372

877
1, 155
818
1,379
722
501
105
43
220
3S8

894
1,149
855
1. 357
689
510
103
46
223
400

904
1,194
885
1,378
711
512
101
46
225
407

912
1,213
870
1, 484
811
519
99
46
225
405

908
1, 236
872
1,511
825
525
104
48
226
395

892
1,248
856
1,488
802
526
105
48
226
380

5,403
991
248
74
128
169
109

5, 359
1,011
246
78
142
169
114

5, 352
1. 035
251
83
149
171
118

5, 456
1, 089
255
89
183
174
122

5,452
1, 150
257
90
233
174
129

5, 709
1, 250
259
88
327
172
127

5, 750
1, 245
263
83
325
173
122

5, 717
1,191
265
78
260
175
120

5, 659
1, 130
269
75
201
175
116

5,617
1,071
270
73
159
175
112

5,514
1,014
264
71
139
170
107

83
985
445
197

80
983
446
196

80
965
431
197

82
974
433
202

79
954
429
194

105
986
440
206

114
989
438
208

113
991
439
210

101
99H
441
211

97
999
443
207

92
990
443
202

88
988
441
204

1,110
439
222

1,057
441
223

1,041
444
223

1,058
451
226

1,025
448
227

1,101
459
229

1, 115
462
229

1,123
464
229

1.135
465
232

1,139
463
231

1.123
' 456
229

' 1,150
454
227

516
548
212
172
133
212
87
347
227

516
551
214
173
132
211
89
337
222

516
550
215
175
134
216
90
331
218

521
545
217
176
135
219
91
342
225

518
542
219
177
135
216
92
342
225

520
543
218
176
134
217
91
351
229

530
553
218
174
132
223
92
346
224

535
557
218
172
130
226
92
344
222

539
557
218
171
130
231
94
332
211

537
559
220
170
130
234
95
3 i8
228

530
559
221
169
130
233
94
348
231

'531
r
561
222

Production workers in manufacturing industries, adjusted:
Total
thousands..
Durable-goods industries
do _ _
Nondurable-goods industries.
_. _ . - do-_ _

12, 798
7, 350
5,448

12, 934
7,443
5,491

13, 081
7, 549
5,532

13, 200
7, 634
5,566

13, 119
7, 609
5,510

13, 127
7,592
5, 535

13. 160
7, 614
5,546

13, 270
7,701
5, 569

13,412
7,797
5,615

13, 399
7, 803
5, -596

13, 336
7, 765
5,571

Production workers in manufacturing industries :
Indexes of emplovment:
Unadjusted
1947-49 = 1 00
\djusted
do - -

103.3
103.5

103. 6
104. 6

104.1
105. 8

105.8
106.7

104.7
106.1

107.2
106.1

108. 1
106.4

108.7
107. 3

109.1
108. 4

108. 9
108. 3

107.3
107. 8

2. 127. 4
207. 3

2, 132. 9
207.7

2,157.4
211.3

2,161.3
211.9

2, 1 64. 5
211. 5

2, 146. 9
209. 2

2, 146. 1
209. 6

2. 142. 2
209. 6

2,41 0.0
i 214.6

2, 130. 0
207.6

1,040

1,081

1,109

1,121

1,126

1,122

1, 115

1, 107

1, 103

' 1,078

1.074

1,075

78.4
79.5

81.6
80.5

83.7
81.9

84. 6
82.8

85.0
83.5

84.7
84.5

84.2
86.0

83.6
85. 5

83. 0
'84.8

81.1
80.3

p80. 7
P80.8

* 80. 7
P31.4

146.7

150.1

152.1

151.0

154.6

158.7

161.2

163. 9

163.9

159.2

157.9

' 158. 3

P 156. S

40.4
40.9
40.3

40.6
41.1
40.4

40.9
41.4
41.0

41. 1
41.7
41.0

41.2
41.8
41.3

41.3
42.0
41.3

40.7
41.2
41.3

40.5
41.0
41.6

'40.4
'41.0
41.2

P40.2
P 40.9
p 41.4

40. 5
40.9
40. 6
41.3
40.6

41.5
42.1
42.0
41.9
40.5

41.0
41.4
42.3
41.9
41.8

41. 1
41.5
42.4
41.9
41.6

40.4
41.4
42. 0
41.6
41.6

41. 0
41. 6
42.3
41.9
41 9

40.2
40.6
40.9
40.9
41.9

40.2
40.2
41.1
41.1
41.2

r

40.5

Nondurable-good s industries
Food and kindred products 9 _
_
AT eat products
Dairv products
Canning and preserving
Bakery products
Beverages
- ______

do
do
do
do
do
do
do

Tobacco manufactures
do
Textile-mill products 9
do
Broad -woven fabric mills
.-..do
Knitting mills . .- - - - - - - - - do-- Apparel and other finished textile products
thousands -Paper and allied products
do
Pulp, paper, and paperboard mills
do...
Printing, publishing, and allied industries
thousands. 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

Miscellaneous employment data:
Federal civilian employees (executive branch):
United States, continental
thousands _ 2, 122. 1
207. 5
Washington, D. C., metropolitan area
do
Railway employees (class I steam railways):
1, 035
Total
thousands
Indexes:
78.1
Unad justed
1947-49 = 100
78.7
Adjusted
do

1

r

'646
356
' 317
462
1, 158

'634

r

v 042

' 314
p 312
P 469
' 468
1, 158 P 1, 159

r

' 879
1.260
'851
1, 431
740
528
104
48
2^6
387

'872
p 869
1,266 p 1. 269
p 861
'843
' 1. 399 p 1.381

5, 526

r

r
r

r
r

P 927
p.384

5,512
1,010

P 5, 443
p 1,013

80
982

' 1, 005

226
3S5

P 7^
p974

259
73
136
170
106

' 1. 135 p 1,079
r 456
p 457
p 53$

r 535

570
_

r

' 169

131
228
94
-353
232

P 171

171

^225

P 2^5

348

p 337

r 13, 181

••7.618
r 5. 563

p 13.211
P 7, 637
p 5, 574

107.1

r 106. 4
r 106. 13

p 105. S>
p 106. S

2, 134.0
207. 9

2, 135. 8
207. 9

>• 13, 250
* 7, 684
r
5, 566

r 106.

r

9

PAYROLLS
Manufacturing production-worker payroll index, unadjusted (U. S. Dept. of Labor)
1947-49=100..

146.6

LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor):
40.3
40.8
40.6
40.7
All manufacturing industries
_ _ . hours
41.2
41.6
41.4
41.2
Durable-goods industries
do
40.6
40.6
40.8
40.9
Ordnance and accessories
clo .
Lumber and wood products (except furniture)
40. 4
41.0
40.8
41.8
hours, 40.6
41.1
41.7
42.5
Sawmills and planing mills
do
40.3
41.3
40.7
41.6
Furniture and
fixtures
do
41.3
41.3
41.8
41.9
Stone, clay, and glass products
- _
do _
41.2
41.6
40.9
41.5
Primary metal industries 9
do
Blast furnaces, steel works, and rolling mills
40.2
40.9
40.5
41.0
hours. _
Primary smelting and refining of nonferrous
40.5
40.7
40.6
40.5
metals
hours
Fabricated metal prod, (except ordnance, ma41.4
41.6
41.2
41.3
chinery, transportation equipment)
hours. 42. 1
41.4
41.6
42.1
Machinery fexceot electrical)
do
1
r
Includes temporary Post Office employees hired during
Revised.
* Preliminary.
1955.
9 Includes data for industries not shown.




40.1

39.9

41.4

40.6

40. 7

41.3

41.8

40.5

38.8

41.4

41.2

41.1

41.4

41.6

41.6
41.6

41.8
42.1

42.2
42.3

41.9
42 4

41.9
43.2

41.0
42.7

41.1
42.6

p 39. 3
p 40. 1
P41.1
Ml. 2

'41.0
'42.4

p 40. 8
P42.4

40.4

41.2
41.4

39. 6

'41.1
'41.0
' 41. 1

Christmas season; there were about 280,000 such employees in continental U. S. in December

May

SURVEY OF CURRENT BUSINESS

105(5

S-13
1956

1955

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

March

April

May

July

June

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 — Continued
Durable-goods industries— Continued
Electrical machinery
hours
Transportation equipment 9
- - do _
\utomobiles
do
\ircraft and parts
do
Ship and boat building and repairs
do
Railroad equipment
do
Instruments and related products
do
Miscellaneous mfg. industries
do
Xondurable-goods industries
Food and kindred products 9
Meat products
_. Dairy products
.
Canning and preserving
Bakery products
Beverages
Tobacco manufactures
Textile-mill products 9
Broad-woven fabric mills
Knitting mills
_ _

-

40 5
42.7
44 3
41.3
39 6
39.5
40 5
40.6

Industrial disputes (strikes and lock-outs):
Beginning in month:
Work stoppages
number
Workers involved
__
- thousands
In effect during month:
Work stoppages
number
Workers involved
__ _ ... _ . _ . thousands
Man -days idle during month
_
do

39 8
41.7
42 5
41.2
39 1
40 5
40 2
39 7

40 6
41.1
41 5
41.0
39 1
40^9
40 6
40 3

40 3
41.2
41 3
41.4
39 5
40 8
41 2
40 9

41 6
41.5
41 9
41.5
39 0
39 8
41 4
41 3

41 6
42.7
44. 1
41.6
38 2
40.3
41 5
41. 1

41 5
41.9
42.1
42.2
39 7
41.2
41 4
41.2

40 9
40.6
39 9
42 0
39 0
40 5
40 8
40 5

40 6
39.8
38 5
41. 8
39 3
40.4
41 0
40 5

r 40 6
'40.4

p 40 7
p 40 4

r 40 9
f 40 5

p 41 3
p 40 4

39.0
40.3
40.0
43.0
37 7
40.3
40 5

39 6
41.1
41.3
43.8
38 3
41.1
40 7

39 9
41 5
41.3
44 0
39 3
41 4
40 7

39 7
41.9
41.7
44 8
39 7
41 4
42 2

39 9
41. 1
41.6
43 7
39 2
40 9
41 4

40 1
41 7
42.9
43 5
39 9
41 2
40 9

40 3
41 6
42.8
42 9
39 9
41 0
40 0

40.3
41.5
44.5
42.5
36 5
40.9
39 9

40.4
41.8
44.5
42.6
38 3
40.8
39 9

39 9
41 5
43.8
42 7
38 8
40 4
39 7

39 8
40.8
41.3
42 7
38 8
40 6
39 7

' 39 6
r
40 6

" 39 1
p 40 0

36 4
38 7
39 1
36.3

38 8
39 5
40 0
37.5

39
39
40
38

4
8
0
1

38 3
39 6
40.3
37 7

39
40
40
38

40
40
41
38

41
40
41
39

38
41
41
39

39
41
41
38

38
40
41
37

36
40
40
38

6
5
9
6

'37 8
39 9

p 38 0
p 39 2

35.6
42 5
43.7

36.3
42 9
44.0

36.6
43 0
44.1

36.0
43 1
44.5

36.9
43 2
44.4

36.8
43 6
44.5

37.2
43 5
44.6

37.0
43 5
44^9

37.1
43 6
45. 1

36.6
43 1
44.8

37.4
42 6
44.1

' 3t>. 8
r 43 1

p 36. 1
P 42 8

38.8
41.4
41.0
40 7
40.4
41.0
40.3
38.5
38.1

38.5
41.3
40.9
41 0
40.7
41.8
42 4
36.6
36.0

38.7
41 3
41.0
41 4
41.0
42.0
42 1
36.7
36.0

38.7
41 4
41 1
41 2
40 6
42 3
43 i
37.9
37 5

38.7
41 2
40 9
41 3
40 8
41 3
42 7
37.7
37 4

38.9
41 2
40 8
41 0
40 4
41 3
42 1
38.3
38 1

39.3
41 5
41 1
41 3
40 8
41 5
41 4
37.2
36 3

39.1
41 5
40 8
41 6
41 4
42 0
42 0
37.6
36 6

39.1
41 7
41 3
41 0
41 0
42 4
42 0
37.9
37 0

39.6
41 8
41 4
41 0
41 0
41 3
39 8
39. 1
38 8

38.7
41 4
41 2
41 3
41 3
40 7
40 4
39.0
39 0

38. 6
41 2
40 8
40 8
40 6
40 1
39 5
39.5
39 7

r 38. 8
r 41 9

P 38. 7
P 41 2

41.6
31.9
36.9

41.1
28.8
37.2

42.2
30.8
37.4

42 2
35 1
39 0

41 2
35. 5
38 2

42 1
33 5
37 5

42 8
33 9
36 5

42 8
35 7
37 4

42 4
32 9
36 1

49 9
34 6
39 6

43 1
35 1
38 6

42 5
33 0
38 5

40.1
43.6
36.6
39.6
35.9

40.2
43.9
36.0
38.2
35.4

41.2
45.3
37.4
40.2
36.7

40.1
45.3
37 7
41 2
36 7

40.8
45.4
42 1
37.2

40.1
45.8
37.7
41 6
36 7

40.8
45.9
38 5
42 8
37 4

41.0
45.6
37 4
41 4
36 3

40.4
44.8
35 5
38 6
34 7

40.4
44 0
36 7
39 5
36 1

42.0
43 0
35 7
38 5
35 1

40.2
43 9
36 1
38 5
35 6

42.8
39.0
41.5
40.8

43.0
39.4
42.0
40.9

43.3
39.8
42.3
41.0

43 9
39 4
42 3
41. 1

43.2
40 0
42 2
41.4

43.3
40 2
42 4
41.6

43
40
42
41

42
39
42
41

42
40
41
41

43
39
42
41

42
39
41
41

43
39
41
41

40.3

40.3

40.6

40 6

40.9

40.6

40 7

40 7

40 7

40 8

40 6

40 4

38.8
35.2
37.6
44.2

38.6
34.7
37.6
44.2

38.8
34.6
37.7
44.1

39.1
35.4
38 3
44.2

39.7
35.9
39.1
44.1

39.6
35.7
39.1
43.8

39.1
35.0
38 4
44 0

38.7
34.8
38 1
43.7

38.5
34.5
37 8
43.7

39.4
37.1
37 9
44 0

38.6
35.0
37 3
43 7

38.6
35. 2
37 1
43 8

41.7
40.2
39.2

41.6
40.3
39.7

41.2
40.8
41.0

41 3
40.4
40.1

41.3
40.6
39.2

41 6
40.0
38.5

41 2
40 3
40 3

41 5
40 6
40.2

41 6
40 3
39 5

41 6
40 5
39 6

41 2
40 3
38 8

41 3
40 2
38 6

••310
r

164

r

6
3
0
0
8
7
8
5

37.1
42.8
44.0

Apparel and other finished textile products
hours..
Paper and allied products
do
Pulp, paper, and paperboard mills
do
Printing, publishing, and allied industries
hours _
Chemicals and allied products
do
Industrial organic chemicals
do
Products of petroleum and coal
do
Petroleum refining
do
Rubber products
do
Tires arid inner tubes
do
Leather and leather products
do
Footwear (except rubber)
__ . ..do ..
Xonmanufacturing industries :
Mining:
Metal
.
do ...
\nthracite._ _ . ___
.._ ..
do ...
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production _ _ hours _ _
Xon metallic mining and quarrying
do
Contract construction _
_ ... .... _ _ d o _ _ .
X T onbuilding construction
do
Building construction^, _
...... do
Transportation and public utilities:
Local railways and bus lines .
. ..do. __
Telephone
do
Telegraph
do
Gas and electric utilities.. ..
. _ . .. do.. .
Wholesale and retail trade:
Wholesale trade
.. . ...do
Retail trade (except eating and drinking places) 9
hours -.
General-merchandise stores
do
Food and liquor stores.
_ . . ... do. .
Automotive and accessories dealers _ _ do.
Service and miscellaneous:
Hotels, vear-round
_ do
Laundries .
_
.
_ . - . do.
Cleaning and dyeine plants
. . __ do .-

40
40
40
41
39
40
40
40

37.6
40 0
40. 1
38.4

do
do
do
do_

40 8
42.7
44 3
41.0
39 9
40 1
40 6
40 5

39.7
40.5
40.5
43.2
38 0
40.4
40 2

- do
-- --.do.. _
do ...
do
do
do
do

40 6
42.1
43 5
40.7
39 6
40.0
40 3
40 1

325
210

375
170

500
500

425
750

450
220

400
240

400
225

225
90

250
85

250
70

9 50
50

'435
'212
1, 680

500
310
2,600

575
310
2,600

700
650
3, 400

650
900
3,200

650
380
3,000

600
430
2 800

600
320
2 600

475
190
2 650

17K
50
350
200
2 000

350
190
2 000

350
190
2 200

350
175
2 000

480

542

548

514

603

622

587

504

431

432

402

450

1,009
1,471

910
1,263

898
1,121

969
1,092

877
961

725
858

794
784

937
863

1,193
1, 123

1,349
1, 466

1,049
1,508

936
'1,447

1,345
135, 779

1,136
117,402

1,057
108, 861

924
91,602

839
92, 834

763
83, 169

672
70, 091

685
74, 674

861
95, 153

1 202
135, 722

1 309
143J 923

1 312
152, 000

25
69
86
8,423

25
55
66
6,739

40
56
64
6,606

32
59
68
6,764

37
60
70
7,681

24
47
62
6,528

20
35
42
4,243

27
37
40
4,132

32
47
51
5, 230

36
58
66
6,726

29
61
73
7,050

34

3.4
3.4
3
13
1.6
.2

4.5
4 0
3
13
2 2
.2

4.4
4 4
3
1 i
2 8
.2

4.1
35
3
12
18
.2

3.3
31
3
12
14
'.2

2.5
30
2
14
1i
'.2

3.3
36
3
17
14
'.2

U. S, Employment Service placement activities:
Xonaojicultural placements
thousands
453
Unemployment compensation, State laws (Bureau of
Employment Security):
Initial claimsc?
thousands..
1,005
Insured unemployment, weekly average
do
1,657
Benefit payments:
1,600
Beneficiaries, weekly averaged"
--do . .
Amount of pavmentsd"
thous. of doL. 178,762
Veterans' unemployment allowances:
Initial claims
thousands. _
33
Insured unemployment, weekly average
do
88
107
Beneficiaries, weekly average.
do
Amount of payments
thous. of dol.. 11,337

Labor turnover in manufacturing establishments:
Accession rate
monthly rate per 100 employees..
3.5
3.6
3.8
Separation rate, total
do ._
3.0
3.1
3.2
2
3
.3
Discharge
do
Lay-off _
.
do _.
1.2
1.3
1.1
1.5
Quit
do
1.3
1.5
.2
.2
Military and miscellaneous
do
.2
r
Revised.
*> Preliminary.
9 Includes data for industries not shown.
^Beginning 1955 includes data relative to UCFE (January 1955 initial claims, 29,000;




4.3
3.2
3
1 2
1.5
.2

2
2
7
6

4
5
0
5

0
1
4
4

0
8
2
4

4
9
2
6

beneficiaries, 2,700; benefits paid, $307,000).

4
2
6
6

9
2
9
5

2
2
8
9

7
7
0
4

2
4
1
8

5
4
7
4

P 41 1

r 39 5

i> '',9 4

' 38. 3

P 36. 7

0
0
6
i

'3.1
36
3
r
18
13
.2

r

r 41 ]

_

"

72
7, 275
P3. 1
p3 6
»

0

p

16
p14
2/2

P 1,340

SURVEY OF CURRENT BUSINESS

S-14

May 1956

1955

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

March

April

May

June

July

1956

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):
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
Primary metal industries 9
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.)
dollars. Machinery (except electrical) do
Electrical machinery
do
Transportation equipment 9
do
Automobiles
. - _ _. _ do.
Aircraft and parts
do
Ship and boat buildin? and repairs do Railroad equipment
do

81. 56
82 42

75.11

74.96
81.58
82 42

76.30
82.78
82 82

76.11
81.99
83 44

76. 36
82. 62
82 62

76. 33
82.61
82 42

77.71
84 46
85 28

78.50
85 07
85 28

79.52
86.11
86 73

79.71
86. 52
86 73

78.55
84.87
87 56

78 17
84 05
88 19

r
r

78. 78
84. 46
88 58

v 78. 39
P 84. 66
T> 88 18

66. 10
66. 99
65. 67
74. 75

67. 06
67.40
64.48
75. 17

68.47
69.64
64 71
76 91

71.90
73.10
66 98
77.52

69. 66
70.35
64 96
77.23

72.21
72. 83
68 46
77.93

70.93
71.62
69 37
79. 19

71.10
71.80
69 96
78.77

68. 28
69.97
68. 88
79.04

68. 47
69.89
69. 37
79. 19

66. 73
67.80
67 49
77.71

67. 13
67 94
67 82
77 68

••68.11

p 68. 38

r
r

68 64
78. 31

p 66 57
P 79. 32

r

95. 35

p 95. 17

83. 23

88.34

89.40

90.69

91.30

92.57

91.94

97.39

96. 10

96.10

97.21

97.63

95 17

91.25

92,34

93. 66

95.12

98.65

96.96

103. 91

99.47

99.72

102. 01

103. 25

99 23

81 41

81 61

82 62

82 62

84 65

81 48

89 42

88 58

87 95

89 01

89 86

86 86

80.73
84.87
75.33

80.34
85.70
75.52

81. 54
87. 15
76.30

80. 95
87. 57
75 92

81.99
86. 11
74 82

82.78
86.94
75. 92

84.02
88.83
76 17

85.67
90. 10
79 46

85.06
91.16
79.46

85. 06
93.31
79.68

82.82
92.66
78 94

83. 43
92 44
78 36

r
r

78 76

p82. 82
p 92. 43
P 79 37

94.37
100. 56
88. 38
82.76
84.14

92. 62
97.88
87.10
83.16
88.00

94.79
101.00
88.15
*3. 39
88.62

88. 26
89.20
88 15
83.18
90 35

92 99
97. 75
89 40
81.72
90 32

92.06
95. 45
S8 97
83.67
93 25

93 11
96. 23
90 67
84 93
94 25

94 21
98. 47
91 30
84.24
91 54

98.21
104. 96
91. 52
82. 51
93. 90

95. 53
98. 09
93. 26
86.15
96.41

91 35
90.97
92 82
84.63
94 77

89
87
92
85
94

r

90 50

P 91 30

do
do

76.14
66 58

75.76
65 76

75 92
66 83

77 93
66 42

76 38
65 51

77 55
66 50

79 52
68 30

80 32
69 38

80.93
69 46

80 73
70 04

79 97
69 26

80 36
69 26

r go 57

p 81 77
p 70 30

do
do
do
do
do
do
do -

66.70
70.07
77.76
71.28
56. 24
68.28
80.00

65.91
70. 12
76.00
70.95
57.68
68.11
81.41

67.32
71. 51
79.30
72.71
56. 68
69.87
82.21

67.83
71 38
79 30
73.04
55 81
70.79
82.21

67.89
72 07
80 48
75. 26
54 79
70.79
87.35

67.83
71 10
83 62
72.98
56 45
70. 35
85.28

68 97
72 98
87 52
73. 95
58 65
71.28
84. 66

69 32
73 63
87. 74
72.07
59. 05
71.34
82.00

70. 12
74. 70
94.34
71.83
53. 66
71.98
82.19

70.30
75 66
93. 01
72.42
57. 83
71. 40
82. 59

69 83
76 36
91 54
73.02
59 36
71 10
82.18

69
74
84
73
59
71
82

65
26
67
44
36
46
58

r

r 75 U

p 69 60
p 74 00

Tobacco manufactures - do ___
Textile-mill products 9
do
Broad-woven fabric mills _
_ _
do .
Knitting mills
do
Apparel and other finished textile products
dollars _ Paper and allied products
do
Pulp paper and paperboard mills
do
Printing, publishing, and allied industries
dollars ...
Chemicals and allied products
do
Industrial organic chemicals.
do

51.51
54.80
52. 93
50.69

50.60
53.02
52.00
47.92

54.71
54.51
53.20
49.50

55. 55
54.92
53.20
50 29

54. 00
54 25
53. 20
49 01

50. 57
55. 48
54.13
50. 95

50. 50
56 70
56. 17
51 21

51.25
57. 53
56.44
53. 19

51. 46
58.50
57.41
53.86

[A. 10
58.50
57.27
52. 52

53. 48
57 37
56. 31
51 79

50
57
56
52

87
51
03
88

T 55. 57
r
57 06

P 56 24
P 56 06

49.71
77.04
83.16

46.99
76. 93
83.47

47.92
77. 65
83. 60

48.68
78. 69
85 11

47.88
79.30
86 78

49.82
79.92
87.02

50. 05
81. 10
88 11

50.59
81.35
88 31

50.32
81.35
88.90

50.83
81.53
89.75

50.51
81 46
89 60

51.61
79 66
87 32

r 52. 62
»• 81 46

P 50. 90
p80 89

90.79
80.32
85.69

89.71
81.36
87.12

90.95
81.77
86. 51

90.95
82.80
87. 54

90.95
83.22
87 94

91.42
82.81
86.90

93.14
84. 25
89 60

92.67
83. 42
88.13

92.28
85.07
90.03

94.25
85.27
90. 25

91.72
84.87
90 23

91.87
84.46
89 35

r 93. 12

p 93. 27
p 84. 87

Products of petroleum and coal
Petroleum refining
Rubber products
_
Tires and inner tubes
Leather and leather products
Footwear (except rubber)

93.61
96. 96
83.64
95. 51
53. 52
51.05

95.94
99.72
86. 53
102. 18
51.24
48.24

97.70
101.27
87.36
101.88
51.75
48.24

97 23
100 28
88.83
105 60
53.44
50 63

99 53
102 41
86 32
103 33
52.40
49 74

97 58
99 79
86. 32
102 72
53. 24
50. 67

100 36
102 82
86 74
101 02
52. 45
49 01

99 84
103 09
89.04
103 74
53.39
49 41

99 22
102.91
92. 01
106. 26
54.58
50.69

98 40
102 09
89.21
99 50
55. 91
53. 16

99 95
103 66
87 91
101 00
56. 55
54 21

100 37 r 103 57
104 34
r
84 93
85 81
97 95
r
57. 07
57. 28
55 98

87.78
80.07
91.88

86.31
74.88
93.00

89.46
77.62
93.87

90.73
87.40
98.28

91 46
86 27
95. 50

94. 73
85.76
94.50

96 73
85.77
96.73

97 58
93.53
99.86

96.25
83.90
96. 03

97.81
88.23
105. 73

98 70
91 96
104. 22

96 48
84' 81
103 18

91.43
77. 17
94.06
91.48
94.42

93.67
78. 58
92.52
89.39
93.10

96.41
81.99
96.12
94.07
96.52

93.03
82. 90
96. 89
96. 41
96.89

96. 29
83 99
98.94
99 36
98.95

92. 63
84. 73
98.02
99. 01
97.99

95. 88
85 83
100. 87
102. 29
100. 61

96.35
84 36
98.36
99.36
98.01

94.13
82.43
94.08
92.64
94. 04

94.13
80.96
97. 62
95. 20
98.55

99 96
80 41
95.68
93 17
96. 17

97
82
96
93
97

69
53
75
17
54

79.18
70.20
77. 19
84.05

79.98
71.71
78.54
84.66

80.54
72.83
79.52
85.28

82.09
70.92
79. 52
85.49

81.22
72.00
79 34
86.94

81.40
72 76
79.71
87. 78

81.70
72. 58
79 71
87.77

80.56
73. 42
79 34
89.02

81.51
75.58
78. 35
89.23

83.03
73.84
78.96
89.01

81.60
73 28
78 40
89.42

82
71
78
88

56
76
21
37

75.76

76. 17

77. 14

77.55

78 53

77.95

78 96

79.37

78.96

79 56

79 58

79 59

57.42
41.18
60.54
78.68

57.51
40.60
60.54
80.00

58.20
40.83
61.07
81.14

59.04
42.13
62.43
81.77

60. 34
43 08
63.73
81.14

60.19
42.48
63.73
81.03

59.82
42.00
62.98
80.96

58.82
41. 76
62.48
79.53

58.52
40.71
62.37
79.53

58.71
43.04
62.16
80.08

59.44
42 70
61.92
79.10

59 44
42 94
61 59
79.28

61 72

61 47

41 61
41.51
47.34

41 30
41 00
47.09

Instruments and 0related products
Miscellaneous mf " industries
Nondurable-goods industries . . .
Food and kindred products 9
Meat products
Dairy products
__
Canning and preserving
Bakery products
- _ __
Beverages
-

...

do
do
do
do
do
do

Nonmanufacturing industries:
Mining:
Metal
do
Anthracite .
. . -do
Bituminous coal _
_..
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
dollars
Nonmetallic mining and quarrying
do
Contract construction
__
_._
do
Nonbuilding construction
do
Building construction ._
...
_do
Transportation and public utilities:
Local railways and bus Haes... . _
_ . do ...
Telephone
...
do
Telegraph
do
Gas and electric utilities.. ._
_ do
Wholesale and retail trade:
Wholesale trade
do
Retail trade (except eating and drinking places) 9
dollars General-merchandise stores
do
Food and liquor stores ... _ d o
Automotive and accessories dealers
do._.
Finance, insurance, and real estate:
Banks and trust companies
do
Service and miscellaneous:
Hotels, year-round
.
do .
Laundries. __ _ __
_
do ...
Cleaning and dveing plants
.. ...do
r
Revised.
p Preliminary.
9 Includes data for industries not shown.




59.08

59.00

58.69

58.50

58.77

58.67

59.09

60.25

60.49

60.83

40.45
40.60
47.04

40.35
40.70
47.24

40.79
41.62
49.61

40.47
40.80
48.12

40.89
41.01
47.04

40.77
40.40
45. 82

41. 20
40.70
48.36

41.50
41.01
48.24

41.60
41.11
47.40

42.02
41.31
47.92

r

15
78
38
28
54

r 92 01

r gg Of,

70 49

r 84. 46

P 103 57
p 84 32
p 55. 05

—

SURVEY OF CURRENT BUSINESS

May 1050

S-15

1955

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

March

April

May

June

July

1956

August

Septem- October ' Novem- Decemuctooer j ber
ber
ber

January

February

March

April

EMPLOYMENT AND POPULATION—Continued
WAG ES— Con tinued
Average hourly gross earnings (U. S. Department of
Labor):
\]\ manufacturing industries
dollarsDurable-^oods 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
Primary metal industries 9
- do
Blast furnaces, steel works, and rolling mills
dollars ..
Primary smelting and refining of nonferrous
metal c
dollars
Fabricated metal prod, (except ordnance, machinery, transportation equipment) --dollars-Machinery (except electrical)
- do
Electrical machinery
do

1.85
1 97
2 03

1.86
1 98
2 03

1 87
1 99
2 03

1 87
1 99
2 04

1 89
2 02
2 05

1 88
2 01
2 04

1 90
2 04
2 08

1 91
2 04
2 08

1 93
2 06
2 10

1 93
2 06
2 10

1 93
2 06
2 12

1 93
2 05
2 12

1 95
2 06
2 15

p 1 95
p 2 07
p 2 13

1.62
1 63
1 59
1.81
2 16

1.66
1 66
1 60
1.82
2 17

1.67
1 67
1 59
1.84
2 18

1.72
1 72
1 61
1.85
2 20

1.72
1 79
1 60
1.87
2 28

1.74
1 73
1 63
1.86
2 27

1.73
1 73
1 64
1.89
2 33

1.73
1 73
1 65
1.88
2 31

1.69
1 69
1 64
1.90
2 31

1.67
1 68
1 64
1.89
2 32

1.66
1 67
] 65
1.90
2 33

1.67
1 69
1 65
1.89
2 31

1.72

p 1. 74

1 67
1.91
2 32

v i 06
P 1.93
p 2 31

2.27

2.28

2.29

2.32

2.46

2.43

2.51

2.45

2.45

2.47

2.47

2.45

2 01

2 01

2 03

2 04

2 09

2 10

2 16

2 15

2 14

2 15

2 15

2 15

1.95
2.05
1 86

1.95
2.06
1 86

1.96
2 07
1 87

1.96
2 08
1 87

1.99
2 08
1 88

1.99
2 09
1 87

2.01
2 11
1 89

2.03
2 13
1 91

2.03
2 15
1 91

2.03
2 16
1 92

2.02
2 17
1 93

2.03
2 17
1 93

«• 2. 03
T
2 17
r 1 94

^2.03
p 2 18
P 1 95

2 24

P 2 26

1 97
1 72

P 1 98
p 1 74

1 78
1 85

P i 7g
p 1 85

1 47
1 43

p 1 48
P i 43

p 1.41
P 1 89

Transportation equipment 9
Automobiles
-- _
Aircraft and parts
Shin and boat building and repairs
Railroad equipment

do
do
do
do
do

2 21
2.27
2 14
2.09
2 13

2 20
2.25
2 14
2.10
2 20

2 22
2 28
2 15
2.09
2 21

2 19
2 23
2 15
2.09
2 22

2 23
2 30
2 17
2.09
2 23

2 24
2 30
2 17
2.14
2 28

2 26
2 33
2 19
2.15
2 31

2 27
2 35
2 20
2.16
2 30

2 30
2 38
2 20
2. 16
2 33

2 28
2 33
2 21
2.17
2 34

2 *>5
2 28
2 21
2.17
2 34

2 24
2 28
2 21
2.17
2 34

Instruments and related products
Miscellaneous rnfg. industries

do ._
do

1.88
1 64

1.88
1 64

1.87
1 65

1 91
1 64

1 90
1 65

1.91
1 65

1 93
1 67

1 94
1 68

1.95
1 69

1 95
] 70

1 96
1 71

1 96
1 71

Nondurable-poods industries
do
Food and kindred products? ... .. _ -do ._
Meat products
__ •
_ do
Dairy products
do
Canning and preserving
. _ _ . do Bakery products
__ ... . _ - do Beverages
do

1.68
1.73
1 92
1 65
1 48
1.69
1 99

1.69
1.74
1 90
1 65
1 53
1.69
2 01

1 70
1. 74
1 92
66
48
70
02

1 70
1 72
1 92
1 66
1 42
1 71
2 02

1 71
1 72
1 93
1 68
1 38
1 71
2 07

1 70
1.73
2 01
1 67
1 44
1.72
2 06

1 72
1 75
2 04
1 70
1 47
1 73
2 07

1
1
2
1
1
1
2

72
77
05
68
48
74
05

1 74
1 80
2 1?
1 69
1 47
1.76
2 06

1 74
1 81
2 09
1 70
1 51
1 75
2 ()7

1 75
1 84
2 09
1 71
1 53
1 76
2 07

1 75
1 82
2 05
1 72
1 53
1 76
2 08

Tobacco manufactures
do
Textile-mill products 9- . _..
do
Broad -woven fabric mills
do
Knitting mills
._ . . . . _ do Apparel and other finished textile products
dollars- .
Paper and allied products
do
Pulp, paper, and paperboard mills
do
Printing, publishing, and allied industries__do
Chemicals and allied products
.
. do
Industrial organic chemicals
-_-do_-

1 37
1.37
1 32
1.32

1 39
1.37
1 33
1.32

41
38
33
1 32

1
1
1
1

41
38
33
32

1 41
1 37
1 32
1 30

1 29
1.38
1 33
1 32

1 25
1 40
1 37
1 33

1 25
1 41
1 37
1 35

1 34
1. 42
1 38
1.36

1 3S
1 42
1 37
1 35

1 40
1 42
1 37
1 37

1 39
1 42
1 37
1*37

1.34
1 80
1.89
2.34
1.94
2 09

1.32
1 81
1.91
2.33
1.97
2.13

1.32
1 81
1.90
2. 35
1 98
2.11

1.33
1 83
1.93
2.35
2 00
2 13

1.33
1 84
2.35
2 02
2 15

1.35
1 85
1.96
2.35
2 01
2.13

1.36
1 86
1.98
2.37
2 03
2 18

1.36
1 87
1.98
2.37
2 01
2 16

1.36
1 87
1.98
2.36
2 04
2. 18

1.37
1 87
1.99
2.38
2 04
2 18

1.38
1 89
2.00
2.37
2 05
2 19

1.38
1 87
1.98
2.38
2 05
2 19

'1.43

1.9!)

r 2 05

p 2. 41
P 2 00

Products of petroleum and coal
Petroleum refining
.._
Rubber products
Tires and inner tubes--. _
Leather and leather products
_
Footwear (except rubber)

2.30
2.40
2.04
2.37
1.39
1.34

2.34
2.45
2.07
2.41
1.40
1.34

2 36
2.47
2 08
2.42
1 41
1.34

2 36
2 47
2 10
2 45
1 41
1 35

2 41
2 51
2 09
2 42
1 39
1 33

2 38
2.47
2 09
2.44
1 39
1.33

2 43
2 52
2 0Q
2 44
1 41
1 35

2 40
2 49
2 12
2 47
1 42
1 35

2 42
2 51
2 17
2.53
1 44
1. 37

2
2
2
2
1
1

40
49
16
50
43
37

2 42
2 51
2 16
2 50
1 45
1 39

2 40
2 57
2 14
2 48
1 45
1 41

r 2 52

P 2 59

2.11
2.51
2.49

2.10
2.60
2.50

2.12
2 52
2.51

2 15
2 49
2 52

2 22
2 43
2 50

2.25
2 56
2.52

2 26
2 53
2 65

2 28
2 62
2 67

2 27
2 55
2 66

2 28
2 55
2 67

2 29
2 02
2 70

2 27
2 57
2 68

2.28
1.77
2 57
2.31
2.63

2.33
1.79
2 57
2.34
2.63

2.34
1.81
2 57
2 34
2.63

2.32
1.83
2 57
2 34
2 64

2.36
1 85
2 59
2 36
2 66

2.31
1.85
2 60
2 38
2.67

2.35
1.87
2 69
2 39
2 69

2.35
1.85
2 63
2 40
2 70

2.33
1.84
2 65
2 40
2 71

2.23
1.84
2 66
2 41
2 73

2.38
1 87
2 68
2 42
2 74

2.43
1 88
2 68
2 42
2 74

1.85
1.80
1.86
2.06

1.86
1.82
1.87
2.07

1.86
1.83
1 88
2.08

1 87
1 80
1 88
2 08

1 88
1 80
1 88
2 10

1 88
1 81
1 88
2.11

1 90
1 81
1 88
2 12

1 90
1 84
1 88
2 14

1 90
1 88
1 87
2 15

1 90
1 86
1 88
2 15

1 92
1 86
1 88
2 16

1 92
1 84
1 88
2 15

1.88

1.89

1.90

1 91

1 92

1 92

I 94

1 95

1 94

1 95

1 96

1 97

1.48
1.17
1.61
1.78

1.49
1.17
1.61
1.81

1.50
1.18
1.62
1.84

1.51
1 19
1 63
1.85

1.52
1 20
1 63
1.84

1.52
1 19
1.63
1.85

1.53
1 20
1 64
1.84

1.52
1 20
1 64
1.82

1.52
1 18
1 05
1.82

1.49
1 16
1 64
1 82

1.54
1 22
1 66
1 81

1.54
1 22
1 66
1 81

.97
1.01
1.20

.97
1.01
1.19

.99
1.02
1.21

98
1 01
1 20

99
1 01
1 20

98
1 01
1 19

1 00
1 01
1 20

1 00
1 01
1 20

1 00
1 02
1 20

1 01
1 02
1 21

1 01
1 03
1 22

1 00
1 02
1 92

2.021
3.190

2.025
3.190

2.050
3.207

2.059
3.227

2.073
3 247

2.087
3 264

2.087
3 271

2.093
3 286

2.094
3 289

2. 097
3 290

2.107
3 298

2. 117
3 309

1.925

.85
1.946
1.74

1.942

1.941

88
1.962
1 72

1.938

1 954

77
1 983
1 72

1 987

2 061

91
2 108
1 72

do
_ _.do_ do
do
do
do._ _

Nonmanufacturing 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
do ...
Telephone
.._ do_
Telegraph __
do
Gas and electric utilities
__ 1o __
Wholesale and retail trade:
Wholesale trade
_ ._
_ .__ do__
Retail trade (except eating and drinking places)
dollars. _
General-merchandise stores
do
Food and liquor stores.
_. .. d o _ _
Automotive and accessories dealers _ , do
Service and miscellaneous:
Hotels, year-round
do
Laundries
do_ _
Cleaning and dyeing plants .
_
- do
Miscellaneous wage data:
Construction wage rates (ENR):§
Common labor
dol. per hr__
Skilled labor
do—
Farm wage rates, without board or room (quarterly)
dol. per hr
Railway wages (average, class I)
. do . .
Road-building wages, common labor
do
r

Revised.
* Preliminary.
9 Includes data for industries not shown.
§ Rates as of May 1, 1956: Common labor, $2.148; skilled labor, $3.342.




r
r

r

r \ 89

2. 40

r 2 15

P 2 14

r i 49

P 1 50

2.117
3 310

2. 123
3 318
89

SURVEY OF CURRENT BUSINESS

S-16

Unless otherwise stated, statistics through 1954 and !
descriptive notes are shown in the 1955 edition of i
BUSINESS STATISTICS
< March

May inr.6
1956

April

May

June

July

August

Septem- October Novem- December
ber
ber

January

February

March

April

FINANCE
BANKING
Acceptances and commercial paper outstanding:
Bankers' acceptances
mil. of do! Commercial paper
-do
Agricultural loans and discounts outstanding of agencies supervised by the Farm Credit Adm.:
Total
mil. of dol
Federal land banks
Land Bank Commissioner
Loans to cooperatives
Other loans and discounts

__ _-

Bank debits, total (345 centers)
New York City
6 other centers cf

do
do_.
do ._
do

-

--

807
681
2,434
1 347
1,336
12
339
747

767
623

325
792

do — 178, 924 U58.296
67, 242
57, 634
-- do.
39, 908
34, 494
-- do_-

Federal Reserve banks, condition, end of month:
\sset<5 total 9
mil. of dol
Reserve bank credit outstanding, total 9
do
Discounts and advances
do
United States Government securities do
Gold certificate reserves
- _ _. _ - -do

686
572

655
572

650
593

655
580

671
564

662
547

642
542

642
510

624
573

667
588

660
560

318
835

2,605
1,408
1,408
,
0
319
878

2,651
1,421
1,421
0
336
894

2.670
1,436
1,436
0
341
893

2,663
1, 451
1,451
0
357
855

2,641
1,464
1,464
0
386
791

2,604
1,477
1,477
0
392
735

2.592
1,497
1,497
0
374
721

2.617
1,516
1,516
0
374
727

2,670
1, 541
1,541
0
370
759

2,726
1, 568
1,568
0
355
804

1167,714 1177,917 1161,748 1167,343
62, 211
67, 634
58, 904
58, 980
36, 570
37, 569
34, 123 35, 863

U68,967
62, 550
35, 126

'- 175, 779 1173,190 i 200,523 "•187,361 i'162,094 1 189, 804
67, 568
63, 406 81,027
69, 675
57, 413
73, 214
35, 803
36, 876
40, 718
35, 143 40, 132
40, 193

49, 434
24, 667
391
23,613
21,027

49, 913
24, 988
560
23,61.2
20, 985

49, 306
24, 780
460
23, 662
20, 988

49, 666
24, 601
128
23, 607
20, 994

50, 488
25,719
754
24, 091
20. 994

49, 880
24, 911
470
23, 760
20, 993

50, 243
25, 250
603
23, 834
20, 994

50, 221
25, 430
706
24, 024
21,007

51, 197
25, 776
618
24, 256
21, 002

52, 340
26, 507
108
24, 785
21,009

50, 615
25, 122
852
23, 466
21, 010

50, 615
24, 920
632
23, 482
21,011

50, 822
25, 761
872
23, 636
21,036

50. 509
25, 307
1, 204
23. 345
21,051

49, 434
19, 806
18,283
412
25, 528

49, 913
20, 158
18, 495
334
25, 496

49, 306
19, 685
18, 221
192
25, 656

49, 666
19,268
18, 066
-73
25, 868

50, 488
20, 451
18,999
688
25, 945

49, 880
19, 532
18, 368
217
26, 004

50, 243
19, 741
18, 423
211
26, 142

50, 221
19, 848
18, 565
172
26, 246

51, 197
19, 770
18, 474
57
26, 629

52, 340
20. 355
19, 005
102
26. 921

50, 615
19, 881
18, 750
439
26, 170

50, 615
19, 651
18, 428
266
26, 029

50, 822
20,311
18, 799
r
523
26, 098

50. 509
20. 097
18.785
*518
25, 971

46.4

46.0

46.3

46.5

45.3

46.1

45.8

45.6

45.3

44.4

45.6

46.0

45.3

45.7

55, 590

56, 969

56,011

56, 156

55, 865

55, 931

56, 306

56, 394

56,900

58, 882

57, 607

56, 230

55, 733

56, 474
4,062
2, 534

57, 921
4,216
3,105

57, 624
4,361
3,148

57, 376
4,258
3,224

56, 984
3,963
3,374

57, 523
3,990
3,256

58, 316
3,772
2, 635

58,130
4, 055
2,876

59,475
3,971
2,870

62. 166
4. 026
2, 239

58, 946
4,399
1,477

58, 326
4,319
2,391

57,147
4,254
4.342

Time except interbank total 9
do
Individuals, partnerships, and corporations
mil. of dol_.
States and political subdivisions
do
Interbank (demand and time) _- do

20, 329

20, 319

20, 363

20, 449

20, 333

20, 385

20, 405

20, 513

20,367

20, 527

20, 416

20, 525

20, 633

18, 990
1,132
13, 085

18, 969
1,142
12, 988

19, 037
1,113
12, 974

19,173
1,059
13, 058

19, 104
1,018
13, 3?9

19, 146
1,032
12, 977

19,210
993
13, 077

19, 356
952
13,515

19,192
971
13,111

19, 354
969
13, 882

19. 251
963
12,917

19, 331
992
12, 526

19, 406
1,032
12,691

Investments 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

41, 932

42, 960

41, 724

40, 798

40, 765

39, 716

39, 044

39, 124

38,006

38, 380

32, 885
1,286
1,117
21,806
8,676
9.047

33, 983
1,750
1,911
21, 682
8, 640
8,977

33, 026
1,081
1,149
21,490
9,306
8, 698

32, 076
1,019
743
21,313
9,001
8,722

31, 975
1,160
932
21,077
8,806
8,790

30, 948
985
625
20, 965
8,373
8,768

30, 347
994
496
20, 787
8.070
8, 697

30, 559
842
1,196
20, 644
7,877
8,565

29,643
636
824
20,777
7, 406
8, 363

30, 122
1, 535
910
20, 680
6,997
8, 258

Loans (adjusted) totalO
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

41,448
22, 597
2,483

41,818
22, 545
2,660

42. 440
22, 636
2,742

43, 674
23, 501
2,678

44,113
23, 550
2,775

44, 696
24.171
2,467

45, 449
24, 660
2,406

46, 499
25, 303
2,689

47,331
26,014
2,605

48. 350
26. 073
2, 852

1,113
7,474
8, 488

1,108
7,570
8, 652

1,155
7,719
8,910

1,190
7,873
9,153

1,190
7.993
9,340

1,184
8,120
9,492

1,194
8, 257
9, 669

1,245
8,073
9,926

1, 248
8,188
10,015

1,271
8. 147
10,159

Liabilities total 9
Deposits total o
tylember-bank reserve balances
Excess reserves (estimated)
Federal Reserve notes in circulation

do
do
do
do
. do

.

Reserve ratio

percent-.

Federal Reserve weekly reporting member banks,
condition, Wednesday nearest end of month:
Deposits:
Demand adjusted
mil. of dol. _
Demand, except interbank:
Individuals, partnerships, and corporations
mil. of dol_.
Statcs and political subdivisions
do
United States Government-- - - -do. _ _

Money and interest rates:§
Bank rates on business loans:
In 19 cities
New York City
/ oi er o t er
. ,. . •

percent
do

3.54
3.29
3.55
3.87

3.56
3. 30
3 55
3.95

' 36, 953 36, 526
28, 822
1,044
698
20, 230
6,850
r 8, 131
r
f

36, 258
27, 995
837
708
19, 926
6, 524
r
8, 263

28, 272
910
586
20, 103
6, 673
8,254

47. 741 ^ 47, 694
26. 290 r 26, 346
2, 625
2, 422

r

1.302
8, 154
10,197

1,292
8,341
' 10. 373

1,287
8 224
10, 259

3.93
3 76
3 95
4.17

3.77
3 54
3 76
4.11

r

49, 373
T 27, 781
2.' 436

3 Q3
3 7* !

3.93
4. 19

1.50
1.79
4.17

1.75
1.83
4.17

1.75
1.92
4.17

1.75
2.08
4.17

1.75
2.42
4.17

2.00
2.42
4.17

2.25
2.56
4.17

2.25
2.65
4.17

2.50
3.00
4.17

2. 50
3.00
4.17

2.50
3.05
4.17

2.50
3.14
4.17

2.50
3. 19
4. 17

do
. do. _
do

1.38
1.69
3.00

1.43
1.90
3.00

1.50
2.00
3.00

1.50
2.00
3.00

1.50
2.11
3.01

1.67
2.33
3.34

2.08
2.54
3.40

2.23
2.70
3.50

2.17
2.81
3.55

2.43
2.99
3.63

2.45
3.00
3.63

2.38
3.00
3.63

2.38
3.00
3.63

2.44
3.14
3.94

- do ._
- do

1.335
2.30

1.620
2.39

1.491
2.40

1.432
2.42

1. 622
2.54

1.876
2.73

2.086
2.72

2.259
2.58

2.225
2.70

2. 564
2. 83

2.456
2.74

2.372
2.65

2. 310
2.83

2. 013
3.11

15, 770
2,075

15,764
2,052

15, 830
2,030

15, 985
2,008

16, 022
1,984

16, 073
1,961

16, 190
1,943

16, 191
1,925

16, 295
1,908

16,509

16, 584
p 1, 869

16, 651
p 1, 849

16. 795
p 1, 829

10, 795

r 1, 891

29, 948

30, 655

31,568

32, 471

32, 896

33, 636

34, 293

34, 640

35, 059

36, 225

35. 599

35, 272

35, 536

22, 974

23, 513

24,149

24, 914

25, 476

26, 155

26. 699

26, 963

27, 247

27. 895

27, 769

27, 784

27, 964

11,482
11,053
12, 561
11,985
13, 038
Automobile paper
. _
_.. . . do.13, 547
13, 929
5, 492
5, 676
5, 479
5, 639
5, 762
5,848
Other consumer-goods paper
do
5, £55
1.530
1,534
1, 546
1, 562
1, 570
1,611
1,589
Repair and modernization loans
do
4, 912
5,152
5,192
5,005
5,063
5,257
5,311
Personal loans
do
r
l
Revised.
v Preliminary.
Data are for 344 centers.
cf Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.
9 Includes data not shown separately.
O Exclusive of loans to banks and after deduction of valuation reserves; individual loan items are shown gross,
§ For bond yields, see p. S-20.

14, 095
5,917
1,627
5, 324

14, 172
6,057
1,634
5,384

14,312
6. 435
1, 641
5, 507

14.314
6,318
1.610
o, 527

14, 397
6,209
1,599
5,579

14, 565
6, 137
1,599
5. 663

Discount rate (N Y F R Bank)
_
Federal intermediate credit bank loans
Federal land bank loans
...
Open market rates, New York City:
Acceptances, prime, bankers' 90 days
Commercial paper, prime. 4-6 months.. _
Call loans, renewal (N. Y. S. E.)
Yield on U. S. Govt. securities:
3-month bills
-- -- -3-5 year taxable issues
.

do
do - .
do

Savings deposits, balance to credit of depositors:
New York State savings banks
mil. of doL.
U. S. postal savings
do
CONSUMER CREDIT
(Short- and Intermediate- term)
Total outstanding, end of month.
Installment credit total




mil, of dol.
do

SURVEY OF CURRENT BUSINESS

Mav inr>C>
1

otherwise stated, statistics through 1954 and
•iptive notes are shown in the 1955 edition of
IN ESS STATISTICS
j March

S-17

1955

April

May

June

July

1956

August

s

^n" ^^

January

324
145
771
547
861

23, 524
10 227
8 825
1 556
2 916

23 863
10 347
8'938
1 580
2 998

23
10
8
1
3

4,032
1 423

«P£m' October

X

F

U

^ " I March

April

FINANCE— Continued
CONSUMER CREDIT— Continued
(Short- and Intermediate-term)
Total outstanding, end of month— Continued
Installment credit— Continued
By type of holder:
Financial institutions, total
- mil.
Commercial banks
Rales-finance companies
Credit unions
Other

19,613
8,844
6, 808
1,330
2,631

20, 127
9 020
7,077
1 360
2 670

20, 718
9 228
7, 390
1 395
2 705

21, 432
9 495
7,747
1 434
2 756

21,980
9 656
8,087
1 458
2 779

22, 605
9 871
8,422
1 495
2 817

23, 101
10 060
8,667
1 528
2 846

do
do
- __<io- _
- - do - do

3, 361
1.123
838
420
980

3, 386
1 138
834
437
977

3, 431
1 150
842
457
982

3,482
1 160

3, 496
I 155

3, 550
1 167

856
501
984

871
523
989

3, 598
1 191
878
538
991

3, 639
1 203
889
546
1 001

3. 723
1 251
i 013

1 097

.do.

6,974

7,142

7, 419

7, 557

7,420

7 481

7 594

7 677

7 812

8 330

7 830

7 488

7 572

do
do
do

2 481
2, 735
1, 758

2 496
2 859
1, 787

2 589
3 Oil
1 819

2 686
3 040
1 831

2 595
2 991
1 834

2 629
3 019
1 833

2 657
3 108
1 829

2 666
3 218
1 793

9 757
3 °85
1 770

2 76
3 97
1 57

2 715
3 355
1 760

2 729
2 974
1 785

2 839
9 c)33
1 800

do
do
-- _ _ d o

2 481
2, 735
1,758

2 496
i 859
1, 787

3 on

2 589
1 819

2 686
3 040
1 831

2 595
2 991
1 834

2 629
3 019
1 833

2 657
3 108
1 829

2 666
3 218
1 793

3 285
1 770

2 76
3 97
1 57

2 715
3 355
1 760

9 729
2 974
1 785

9 839
2 Q'^3
l' 800

do
- - do_
do _
do

3 159
] , 569
708
882

3 089
1 512
703
874

3 2%
1 616

3 443
1 766

3 131
1 594

766
911

711
826

3 436
1 745

3 241
1 592
783
866

3 051
1 417
785
849

3 103
1 341

3 508
1 369
1 090
1 049

2 724
1 ?48
643
8*^3

2 769
1 296
697
846

3114
1 450
' 687
977

do _
do
- - do
do

2, 693
1 157
713
823

2 550
1 083
690
777

2 570
1 113

2 678
1 190

2 569
1 117
'674

2 697
1 210
697
790

2 787
1 2^1

9 819
1 °64
710
845

2 860
1 "9
' 712

919

2 850
1 2 46
' 760
844

9 754
1 213
736
805

2 934

716

do
do
do _ .
--do

3, 045
1, 479
744
822

3,027
1 411
738
878

3,103
1 525

3, 290
1 620
' 759
911

3 075
1 474
724
877

3 185
1 503
' 799

3 211
1 451
823

3 192
1 473
751
968

9 988
1 360

do
do
do _
do

2, 562
1 096
683
783

2 552
1 093
672
787

2 635
1 139

2 691
1 175
694
822

2 845
1 266
' 735
844

9 ^QA

1 233
718
893

11,089
9 741
60
9 906
995
127

4 941
3 732
51
3 976
795

6 119
4 438

6 180
5 498
57
4 968
947
208

7 158
6 195
5 050)
' 944

12 499
11 313

5,894
478
386
3 759
1,271

5 228
355
383
2 3 382
1 108

5 340
529
r 353
T 3 512
T
946

Retail outlets, total
Department stores
Furniture stores
Automobile dealers
Other
NoninstaVment credit, total

-

Sinde-pa vment loans
Charge accounts
Service credit
By type of holder:
Financial institutions
Retail outlets
Service credit

--

Installment credit extended and repaid:
Unadjusted:
F \~tendcd total
Automobile paper
Other consumer-goods paper _
Ml other
Repaid total
Automobile paper
Other consumer-goods paper
All other
Adjusted:
Extended, total
Automobile par>er
Other consumer-goods paper. .
All other
Repaid total
Automobile paper
Other consumer-goods paper
\]i other

--

of doL
do
do
do
do- -

741
849

678

738
840

687
809

851
481
990

682
806

3,179
1 589

793
898
2 757
1 236

778

707
814

3, 136
1 519

3,211
1 566

757
833

794
893

2 612
1 166

2 611
1 133

678
768

706
772

11 979
10 125

3 089
2 765

773
87°

2 713
1 197

718
7°8

23
10
8
1
2

8^0
912

820

3 185
1 435
805
945

2 747
1 228

698
851

5 527
4 669

5 337
4 889

5 355
542

T

690
829

2 998
2 692
62
1 873
890
173

24 244
10 521
9 037
1 618
3* 068

3. 805
1 341
90Q
559
996

3,720
1 284
894
564
978

go 7

890

9 9
830
1 81

23 979
10 398
8 964
1 589
3 028

3, 907
1 374
925
556
1 059

956
556

909
550

862
360
936
565
001

2 939

1 97s,
r 770
P.Q4

759
OQO

719
QOQ

FEDERAL GOVERNMENT FINANCE
Budget receipts and expenditures:
Receipts total
.-mil. of doL
Receipts net
do
Custom 6 ;
-- --_ - -- do... _
Income and emplovment taxes
do
A Tiscellaneous internal revenue _ _ _ .
. - - do
All other receipts
do
Expenditures total
Interest on public debt
.Veterans' services and benefits
Alajor national security
A 1 • 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
Nonintercst bearing
_
do
Obligations guaranteed by U. S. Government, end
of month
"
mil.ofdoL.
U. S. Savings bonds:
Amount outstanding, end of month
_ __do
Sales, series E through K
do
Redemption^
do
Government corporations and credit agencies:
Assets, except interagencv, total.. . ..mil. of dol
Loans receivable, total (less reserves)
do
To aid agriculture _ _ __
.._ . . _.._ do _
To aid homeowners
do __
Foreign loans _ _
_ _ _ _ _ _ _ do
Allother.. .
_ _
__do__
Commodities, supplies, and materials
do
1 . S. Government securities
do
Other securities and investments. __ _ _ _ do_ _
Land, structures, and equipment... .
do .
All other assets
do
Liabilities, except interagency, total
do
Bonds, notes, and debentures
___ _ _ _ _ do _
Other liabilities
_ do
Privately owned interest. _ _ _
_ _ _ _
do
U. S. Government interest
_do

2

274, 048
271 200
229, 103
42, 097
2 847

56

4 849

939
276

HQ

276
273
232
41

649
924
233
691

5 356

443
381

2 3 346
1 187
277
274
232
42
9

472
804
563
240
668

57
9 921
' 989

31]

6 753
i i 476
' 398
2 4 146
' 733
274
271
228
43
2

374
741
491
250
633

54

1 924

877
234

5 848
4 734

55

4 459

945
390

5 382

6 225

T 361
r 3 Q46
T i 383

r 428
3 583

r
r 1 692

277 584
274 955
231 615
43' 340
2 629

°78 309
275 711
23l' 9472
44 38
2 598

592

522

277
974
230
43
2

476
879
988
891
597

65

9] 5

1 008

440

5 179

5 651
' 595
r 406

4

542

r 359

r

r 493

3 293

3 109

r 1 161

279 8i8
977 977

233 619
43 657
2 541

r

r 1 099

280
277
233
44
2

131
628
615
013
508

33

37

43

44

42

43

48

48

58 639
535
682

58 641
488
581

58 643
496
619

58 672
494
589

58 703
487
c^q

58 532
462
722

58 494
451

58 501
438

r *} 4.^1
r 1 1QQ

41, 996
19, 782
7,466
3,013
7,968
1,593

40, 639
18 927
6 362
3, 095
8 032
1 932

3,475
3,108
3,430
7,821
3,878

o 797

625
T

963
133

4 950

r 974

5 3qq

553

r 4.O1
o 005

r> *3Q8
3 91 A.
7Sfi

9SO O4Q
900

9' Q-A

ZGA

43 585

^9(1

,40

000

r0

1 (\a

2 ' S7Q

53
CO

1 1 344

1 QR

853

900 070
43 926

CO 1 QO

466

559

•p 400
p r^ 984
•p j ' 156
276 345
273 481
229' 746
43 736
2 863

275 789
273 078
229 689
43 389
2711

59

53

ZAQ

645

544

4,129
2 909
3 414
7 799
3 871

5, 605
4,900
4.141
1, 592
1,881
2 128
4,013
3,019
2 012
543
568
583
35, 848
35, 171
36,460 i
r
Revised.
p Preliminary.
i Effective with the fiscal year ended June 30, 1955, changed from a due and payable basis to an accrual basis.
" Xot entirely comparable with data beginning July 1955.




59

41, 183
19 061
5 853
3 122
8 025
2 479

3,612
3,187
3,429
7,982
4,004

(\UA

280 769

53

58, 701
614
605

574

A

3 962
' 879

240

4915

56

j

58 169

518
find

5S 137
553

SUKVEY OF CURRENT BUSINESS

S-18

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of 1
BUSINESS STATISTICS
March

May 1050
1956

1955

April

May

June

July

August

Septem- October Novem- December
ber
ber

January

February

March

April

FINANCE—Continued
LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U. S. life insurance companies
mil. of dol
Bonds (book value), domestic and foreign, total
mil. of dol_U S Government
do
State county municipal (U. S.)
do
Public utility (U. S.)
- ..do....
Railroad ( U S )
do
Industrial and miscellaneous (U. S.)
do

« 85, 627

86, 061

86, 515

86, 967

87, 636

88, 087

88, 529

89, 016

89, 491

90, 219

90, 842

91, 240

« 46, 764

46, 900
9, 105
1, 965
13, 205
3,724
16, 395

47, 005
9,058
1, 956
13, 203
3,774
16, 519

47, 087
9,046
1,957
13, 236
3,771
16, 594

47, 350
9,096
1,979
13. 309
3,771
16, 732

47, 414
9,179
1,979
13, 319
3,776
16, 704

47, 578
9 129
1,983
13, 366
3,786
16, 858

47, 742
9 027
1,990
13, 400
3,877
16, 985

47, 743
8 891
1 987
13,457
3 871
17,070

47, 690
8 546
1 998
13, 533
3,847
17, 292

47. 967
8 393
2 125
13 579
3 840
17 522

48, 036
8 236
2 144
13, 614
3 849
17 680

2,791
1,711
1,073
26, 949
24, 824
2,381
3, 177
1,027
2,836

2,787
1, 696
1,084
27,217
25, 067
2,407
3,190
1,067
2,842

2,829
1.709
1,112
27, 483
25, 310
2,420
3,207
1,064
2,877

2,869
1,724
1,137
27, 748
25. 551
2, 453
3 230
1,094
2 899

2,875
1,728
1, 139
28, 001
25. 787
2,471
3, 245
1,169
2.912

2,870
1,720
1,142
28, 250
26, 025
2,492
3 260
1,142
2,937

2,879
1,719
1,152
28, 563
26, 320
2 506
3 271
1, 133
2,922

2,899
1 731
1,160
28 868
26, 613
2 523
3 283
1,200
2, 975

2.923
1,720
1,192
29 433
27,166
2 557
3 293
1 254
3, 069

2,930
1 719
1, 199
29 800
27 526
2 568
3 307
l' 167
3 103

2,948
1 727
1,210
30 102
27 799
2 589
3 324
1 054
3 187

5, 645
2, 602
540
2, 503
162
578
524
201
296
109
240
96
298

3,641
452
607
2,582
174
597
539
205
310
110
241
101
304

4,026
711
570
2,745
186
641
567
230
325
112
258
102
324

3,588
647
528
2,413
154
546
514
206
289
102
224
92
285

3,674
568
540
2,566
154
540
555
214
320
111
251
100
321

3,746
833
561
2,352
147
499
508
201
290
105
229
91
281

3 710
579
571
2, 560
163
573
562
202
319
109
234
102
296

4. 598
1.336
549
2,713
177
617
586
211
338
123
243
102
317

5 857
2 258
511
3 088
192
680
665
248
363
129
292
136
383

3 742
847
450
2, 445
168
586
535
194
285
104
222
89
262

3 707
595
524
2, 588
179
607
562
200
314
111
238
92
285

419,386
180, 933
45,512
9,064
33, 921
73, 970
75, 986

439, 941
187, 324
50, 619
9,171
36, 427
76, 500
79, 900

444, 925
183, 192
50, 254
9,236
38, 655
75, 608
87, 980

398, 481
167, 650
44, 147
8, 659
35. 454
66, 159
76, 412

442, 123
199, 661
48, 500
9. 062
36, 983
76, 312
71, 605

421, 191
180,095
44, 423
8, 674
38, 327
67, 737
81 , 935

425, 367
182, 028
51, 605
8,800
39,519
73, 861
69, 554

435,673
189, 453
53, 464
9,207
39, 485
71 , 667
72, 397

555, 665
209,179
56 942
9, 476
38. 230
78, 795
163, 043

522 800
204, 900
59 300
TO 200
54, 400
76 900
117, 100

451 400
192, 500
52 600
8 800
40, 700
76 800
80, 000

a 9 091

o 1, 964
« 13, 191
°3, 716
« 16, 293

Stocks (book value), domestic and foreign, total
mil. of doL - a 2, 773
«
Preferred (U. S.)
do . _ 1, 707
Common (U. S.)
_ ... -.-do.- - « 1, 059
26, 727
Mortgage loans, total
do
24, 629
Nonfarm
- do
2, 367
Real estate
do
3 159
Policy loans and premium notes
do
1, 029
Cash
do
2,808
Other assets
- do
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance):©
3,830
Value estimated total
mil. of dol
462
Group and wholesale
do
590
Industrial
do
2,778
Ordinary total
do
188
New England
-_ do
641
Middle Atlantic
do.. 585
East North Central
.
. . .do . .
226
West North Central
do
311
South Atlantic
do ..
116
East South Central
do
275
West South Central
do
107
Mountain
do
328
Pacific
- -- .--do
Institute of Life Insurance:
Payments to policy holders and beneficiaries, esti498, 084
mated total
thous. of dol
201, 474
Death benefits
do
58, 805
Matured endowments
do
9,216
Disability payments
- do
39,210
\nnuity payments
do_
86, 702
Surrender values
do
102, 677
Policy dividends
do
Life Insurance Association of America:
2,174,366
Premium income (39 cos.), quarterly total
do
286, 266
\ccident and health
do
298 036
\nnuities
do
232, 210
Group
do
251,671
Industrial
do
1,106,183
Ordinary
do

2,058,101
293, 953
236 984
201,277
218, 293
1,107,594

2,069,637
299, 608
255 004
207, 207
216, 461
1,091,357

4 612
1,022
587
3 003
196
698
651
23")
366
132
274
113
339

2,474,743
347 980
350 097
253 227
277. 203
1 24»> 236

MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, U. S. (end of mo.)
mil. of dol.. 21,719
—27.7
Net release from earmark!
do
674
Exports
thous. of doL
3,388
Imports
do
73 300
Production reported monthly total $
do
47 200
Africa
do
13, 000
Canada
- do
5 400
United States
do
Silver:
1,695
Exports
- _ _ --.
- - do--_
5, 840
Imports
do
.873
Price at New York
dol. per fine oz_.
Production:
2, 386
Canada©
-thous. of fine oz
4, 660
M"exico
do
3, 560
United States
- _ _ _ _do _ Money supply Cend of month):
Currency in circulation
mil. of dol__ 29, 800
214, 500
Deposits and currency, total
do
3. 200
Foreien banks deposits, net
_ do . .
6 100
U S Government balances
do
205, 300
Deposits (adjusted) and currency, total
do
102, 400
Demand deposits, adjusted
do
76, 200
Time deposits,
do
Currency outside banks - .. . . _ - -do
26, 700
Turnover of demand deposits except interbank and
U. S. Government, annual rate:
41.7
New York City
ratio of debits to deposits
30.2
6 other cen terse"!
_ _ __ .
- do - 20.0
338 other reporting centers t
do_ ... -

PROFITS AND DIVIDENDS (QUARTERLY)

21, 671
-41.8
182
2,658
71, 400
46, 800
12, 900
5,000

21, 674
-1.0
314
4,854
73, 100
47, 600
13, 400
5,300

21, 678
-.9
694
4,511
73, 100
47, 400
13, 000
5,600

21, 682
—.1
859
2,476
72 900
48, 500
13, 500
4, 100

21, 682
-2.9
183
3,794
74 700
49, 100
13, 500
5, 900

21, 684
10.6
969
5, 392

21, 686
—7. 1
230
10, 645

21, 688
-27.0
778
32, 648

21. 690
—23 8
591
27 305

21,693
—8.2
307
11,743

21, 695
— 15 7
108
18 704

48, 500
13,800
7,000

48 300
13, 800
6,800

47, 500
13, 600
6,300

45 500
13 300
5, 000

13, 000
4,800

12 400
4.600

138
5, 223
.871

236
3,999
.889

290
7,423
.897

210
6. 549
.905

261
5,818
. 908

649
7,299
.908

910
6, 717
.918

522
6, 655
.915

721
6, 736
.905

354
4,208
.904

130
5,325
.909

2,270
3,922
3,068

2, 236
3.415
3,075

2, 462
3,035
3, 089

2,386
3,691
596

2,481
3, 053
2, 005

2,386
2,836
2,840

2,372
3,528
2,432

2,089
3,837
3,087

2, 389
4,347
3,180

3,249

3, 615

29, 769
216, 900
3,100
6,400

30, 009
216, 600
3,200
6,700

30, 244
30. 317
30, 993
30, 228
30, 559
31, 158
30, 229
30, 422
30, 163
30, 339
217, 595 p218, 800 P218, 200 P218, 800 *220, 700 p221, 200 J-224, 300 p221 , 000 p219, 800 p 22 1,600
3,247 P 3, 300 P 3, 100 P 3, 200 * 3, 200 p 3, 200 •p 3, 200 p 3, 100 p 3, 000 P 3. 000
6,610 p 7, 400 P 6. 400 p 5 800 » 6, 200 v 5, 800 p 5 300 * 3, 600 P 5, 300 p 7 800

207, 400
104, 500
76, 200
26, 700

206, 700
103, 300
76, 500
26, 800

207, 738 p208. 100 P208, 600 p209, 700 *211, 300
103, 234 pl03, 900 pl()3, 900 pl04, 900 »106 TOO
77, 129 p77, 100 p 77, 400 p 77, 700 v 77, 900
27, 375 p27, 100 v 27, 300 P 27, 200 v 27, 300

37.3
27.1
119.2

42.7
28.4
i 20.6

44.7
28.3
120.8

40.7
26.6
i 20. 4

38.2
25.9
i 19.9

43 5
27.4
^l.l

44.7
26.5
»20.3

21. 716
— *> 9
843
12 293

216
8, 970
.911

.909

P212, 200 *>215, 700 "214, 300 p21 1,600 p210, 800
P106, 900 P109 700 pl08, 900 Pl05, 600 pl(H 400
p 77, 400 P 78, 200 p 78, 300 p 78. 700 p 79. 300
p 27, 900 P 27, 900 p 27, 100 p 27, 200 p27 ^00

45.4
29.0
i 22.0

51 3
28 1
i 21.6

45.7
29.5
121.7

r

41 1

27 5

1 r 21. 0

47 2
P 29 7
i P 20. 5
i

Manufacturing corporations (Fed. Trade and SEC):
3, 878
3,335
3,735
Net profit after taxes, all industries-.- --mil. of dol__
4. 151
255
240
201
301
Food and kindred products
do
79
87
Textile mill products
do
81
99
Lumber and wood products (except furniture)
82
85
mil. of dol
49
M
154
154
130
166
Paper and allied products
do.-,.
r
Revised,
* Preliminary.
° Revisions for life insurance for February 1955 (mil. dol.): Assets—total, 85,259; bonds—total, 46,651; U. S. Government, 9,239; State, county, etc.,
1,974; public utility, 13,131; railroad, 3,715; industrial, etc., 16,087; stocks—total, 2,762; preferred, 1,715; common, 1,047; mortgage loans—total, 26,459; nonfarm, 24.390; real estate, 2,342;' policy
loans, etc., 3,141; cash, 1,110; other, 2,794.
i Data for 337 centers.
O Revisions for insurance written for January-August 1954 are shown in the November 1955 SURVEY. Revisions for silver production in Canada for January-September 1954 are shown
in the December 1955 SURVEY; those for January-July 1952 and January 1955, in the April 1956 issue.
§ Or increase in earmarked gold (—).
9 Includes data not shown separately.
^Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.
t Revisions beginning with 1943 appear on p. 24 of the October 1955 SURVEY.




SUEVEY OF CURRENT BUSINESS

Jlay 1956
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

8-19
1956

1955

March

April

May

June

July

August Septem- October Novem- December
ber
ber

January

February

March

April

FINANCE—Continued
PROFITS AND DIVIDENDS— Continued
Manufacturing corporations— Continued
Net profit after taxes — Continued
Chemicals and allied products ._ _ ..mil. of dol._
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 __
Dividends paid (cash), all industries
do
Electric utilities, net profit after taxes (Fed. Res.)
mil. of doLRailways and telephone cos. (see pp. S-23 and S-24).

364
575
111
159
262

413
566
192
182
345

429
600
190
157
312

459
788
138
213
386

111
224
167

132
298
173

158 ..
269
172

142
305
190

102
501
278

115
578
316

99
359
369

110
495
371

1,422

1,436

1,565

2,377

341

296

284

v 326

SECURITIES ISSUED
Commercial and Financial Chronicle:
Securities issued, by type of security, total (new
capital and refunding) ___ _ _
mil. of dol
N e w capital, total
._--_. ___.-__
do
Domestic, total _ . _ ..
do
Corporate
. _ __. .
do
Federal agencies
do
Municipal, State, etc
_ _ do
Foreign.. _ . _ . do -

2,003
1,663
1, 632
1,067
49
517
31

1,244
975
959
509
31
419
16

1,324
1, 123
1,121
749
36
336
2

1,628
1,493
1,492
592
236
664
1

1, 186
973
969
490

19
468
3

1, 621
1 055
1,035
602
194
239
20

340
Refunding, total 9 -_-- do_ 340
Domestic, total _
do
137
Corporate
_
..
do
194
Federal agencies do
9
Municipal, State, etc - _ - ._ _ doSecurities and Exchange Commission:
2, 583
Estimated gross proceeds, total.
... _ _ _ do_
By type of security:
2,033
Bonds and notes, total
do
871
Corporate - _ .
. do
512
Common stock
do
37
Preferred stock
..
_
do
By type of issuer:
1,420
Corporate, total 9
do .
644
Manufacturing
do
49
Mining
_ _
_ do
226
Public utility
do
25
Railroad
_ . _ do
27
Communication
do
386
Real estate and financial. _ ...
do .
1,163
Noncorporate, total 9
do
614
TJ. S. Government
. . .
_ do
540
State and municipal
do
New corporate security issues:
1,396
Estimated net proceeds, total
do
Proposed uses of proceeds:
1,190
New money, total
.
do
759
Plant and equipment- .
_ _ do
431
Working capital
do
135
Retirement of securities .
. _ _ do
71
Other purposes
do
State and municipal issues (Bond Buyer):
Long-term
.
thous. of dol 539, 767
Short-term.. . _.
_ _
__ do .. 209, 769

269
269
173
91
6

201
201
84
115
3

135
135
92
41
2

213
207
154
51
2

566
566
389
155
21

1,654

4,399

1,947

2 487

1,656

1 640

2 695

1 850

1 934

r

1,710

r

1 998

1 771

T

1r 619
529
T
73
r
19

r \ 731

1 585
' 675
143
42

1, 453
475
146
54

4,095
694
209
95

1,684
533
206
57

2 333
583
101
53

1 440
672
200
16

1 466
574
93
82

2 492
1 097
159
43

1 573
441
192
86

1 783
'850
113
38

675
172
31
218
93
19
116
979
535
429

998
435
15
249
13
25
185
3,401
3,020
350

796
180
82
280
18
71
82
1, 151
496
651

737
358
32
105
4
46
129
1 750
1 265
' 470

887
173
29
91
187
92
281
768
509
259

749
190
52
224
31
29
166
892
481
407

1,299
138
28
170
66
698
112
1 396
461
926

719
201
14
287
12
40
90
1 132
'433
661

1 001
377
50
275
59
36
94
932
466
41 5

659

977

778

723

870

735

1 282

705

985

r

444
260
185
165
50

791
567
224
74
112

635
440
194
81
62

514
247
267
140
69

623
287
335
216
32

562
368
194
55
118

1 125
997
128
75
82

592
459
133
73
39

£'07

429, 030
200, 591

349, 648
149, 768

650, 780
218, 322

470 161
301 267

258 707
330, 455

407 314
200 458

925 818
136 646

661 017
242 810

415 285
148 913

406 £00
196 298

70') 4-|4

3x3 ^82
245 849

2 752
973
2,062

2,731
928
2,119

337
2 768
919
2 115

2 780
918
2 080

2 752
887
2 064

2 848
977
2 124

2 789
920
2 159

2 796
876
2 260

331
2 830
889
2 345

2 822
905
2 170

2 774
913
2 189

2 817
960
2 177

98 27
98 59
79.06

98 36
98 67
80 36

97 91
98 19
80 28

96 98
97 24
80 92

96 95
97 19
82 10

97 44
97 71
8l' 89

98 07
9S 35
81 27

97 65
97 96
79 06

97 08
97 37
78 91

98 00
98 31
7S 79

97 82
98 08

96 32

115. 2
124.9
96 31

114.7
125. 1
96 53

114.5
123 9
96 37

114.3
121 4
94 96

113.3
120 5
94 51

113.1
121 3
94 87

113. 5
122 5
95 83

113.7
122 7
95 46

112.4
119 8
95 07

113.3
191 3
95 40

80, 463
89 342

82, 141
90 512

108, 696
111 629

93, 547
96 276

82, 604
83 401

106, 046
108 464

195, 875
177 186

90, 762
87 870

95, 283
95 692

78 899
87, 152

80 249
86, 856

106 849
108, 668

91 216
90, 405

80 549
80, 933

104 134

194 268
175, 133

88 662
85', 283

93 795
93! 748

554
253
64
114

r

621

r 478
r 139
r 128
r 744
r 226
r 23
r 200

r I 0gq

r 1 253

645
407

r 70 Q

801
278
22
190
47
122
136
910
518
384

fill

r 730

846

r 495
T 178

r 388

r 210
T

13

r (}(]

19

31

r 37

267

T 317

r 32
r gg

1 96
544

T 970

°6
f ^0

762
525
236
56
28

SECURITY MARKETS
Brokers' Balances (N. Y. S. E. Members
Carrying Margin Accounts)
Cash on hand and in banks
._ ... ..mil. of dol Customers' debit balances (net)
do
Customers' free credit balances
do
Money borrowed _ _ . _
. ...
do

2,701
1,022
1,939

2 189

Bonds

Prices:
Average price of all listed bonds (N. Y. S. E.),
98.62
total§
.
dollars
Domestic
do
98 97
Foreign
_ - __
do
78.55
Standard and Poor's Corporation:
Industrial, utility, and railroad (Al+issues) :
115.4
Composite (17 bonds)
dol. per $100 bond-124.4
Domestic municipal (15 bonds) -- - do
U. S. Treasury bonds, taxable
do
97 08
Sales:
Total, excluding U.S. Government bonds:
All registered exchanges:
Market value
thous. of doL. 93, 992
Face value
.--_--._.._
do
100, 868
New York Stock Exchange:
Market value
_- ..
.do
92, 031
Face value
do
97, 287
r

IOG! 239

79 ^9
' J- °"

79 36

113.9
129 4
Q5 M4

113. 2
120 3
94 8S

104, 729
105 143

109, 660
105 230

] 20, 682
1°1 514

103 410
103, 4K2

108 284
10S! 480

119 104
117! 469

Revised.
p Preliminary.
9 Includes data not shown separately.
§ Data for bonds of the International Bank for Reconstruction and Development, not shown separately, are included in computing average price of all listed bonds.




111.2
116 9
92 (!3

SURVEY OF CURRENT BUSINESS

S-20
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

May

1955

March

May

April

June

July

1956

August

Septem- October Novem- December
ber
ber

January

February

March

Apiil

FINANCE—Continued
SECURITY MARKETS— Continued
Bonds— Continued
Sales— Continued
New York Stock Exchange, exclusive of stopped
sales, face value, total §
thous, of doLV 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
Face value, total, all issues§
_
-do _ _ Domestic
do
Foreign
do
Yields:
Domestic corporate (Moody's)
percent. By ratings:
Aaa
_
-do
Vi
do
A
do--_Baa
do
By groups:
Industrial
do
Public utility
- do_
"Railroad
"
_ _
. _ ..
-do
Domestic municipal:
Bond Buver (20 bonds)
do
Standard 'and Poor's Corp. (15 bonds)
do
U S Treasury bonds taxable
do
Stocks
Cnsh dividend payments publicly reported:
Totil dividend payments
mil of dol
Finance
do
Manufacturing
_ _ _ do
"Mining
do
Public utilities:
Communications
do
Electric and eas
- _-do_
"Railroad
do
Trade
..do.
?v r iscellanoous
d o_
Dividend rates, prices, yields, and earnings, common
stocks (Moody's):
Dividends per share, annual rate (200 stocks) ..dollars .
Industrial H 25 stocks)
do
Public utilitv ^24 stocks)
_ _ doRailroad ^25 stocks)
do
Bank (15 stocks)
- _ do . .

81,373
0
81,373
73, 806
7 547

80, 570
0
80, 570
74, 930
5 592

76, 572
0
76, 572
64, 444
12, 041

99, 554
0
99, 554
89, 672
9 846

79, 184
0
79, 184
71,587
7 535

87, 826
0
87, 826
82 368
5 445

119, 758
1
119, 757
114 398
5 329

83, 974
5
83, 969
78 916
5 026

75, 397

75. 397
69 708
5 668

80, 651
0
80, 651
75 662
4 986

94, 044
0
94, 044
89 448
4 560

82 279
0
82, 279
78 371
3 886

99, 987
15
99, 972
94 882
5 051

104, 349
102, 266
1.428
105, 806
103, 334
1,818

104, 344
102, 238
1 , 449
106,184
103,696
1,833

104, 459
102.314
1,487
106, 200
103, 694
1.851

104, 282
102, 181
1,443
106, 513
104,061
1,797

104, 002
101,892
1, 454
107, 237
104.785
1,797

103, 997
101. 853
1.496
107, 273
104, 796
1,822

104, 548
102 416
1, 487
107,291
104 818
1,817

106, 110
103 982
1,477
108, 199
105, 727
1,817

105, 501
103 449
1 405
108, 039
105 607
1.777

104, 750
102 701
1, 399
107,898
105,471
1.772

105, 598
103 572
1,371
107, 752
105, 357
1,740

105 444
103 510
1 286
107, 799
105 536
1, 618

103, 832
101 920
1 275
107, 800
105 548
1, 607

3.20

3.21

3.23

3.23

3.24 !

3.29

3.31

3.30

3 29

3. 33

3.30

3.28

3.30

3.41

3. 02
3 13
3.18
3.48

3.01
3 13
3.19
3. 49

3.04
3 15
3.21
3. 50

3. 05
3 14
3.22
3.51

3. 06
3 14
3.24
3.52

3.11
3 20
3. ?8
3. 56

3.13
3 ?2
3. 31
3.59

3.10
3 19
3. 30
3 59

3
3
3
3

10
18
29
58

3.15
3 22
3.33
3 62

3.11
3 19
3. 30
3.60

3.08
3 16
3.28
3 58

3. 10
3 18
3.30
3 60

3.24
3 30
3 41
3 6S

3. 14
3.17
3. 31

3. 14
3.17
3. 30

3.19
3.32

3. 18
3.21
3.31

3. 18
3 22
3.32

3. 25
3.26
3.36

3. 25
3.29
3.40

3 23
3.27
3.38

3 92
3 28
3 38

3 26
3.31
3.42

3. 23
3.28
3.40

3.20
3.26
3.37

3 24
3.27
3.37

3 3/
3 3*
3.47

2.42
2. 45
2.71

2.40
2.43
2.77

2.39
2.41
2.75

2 48
2.48
2.76

2.56
2. 62
2.87

2.63
2.67
2.91

2.53
2.63
2.88

2 45
2. 56
2 82

2 52
2. 55
2 85

2.58
2.71
2.88

2.48
2.64
2.86

2.49
2.58
2 82

2.61
2.69
2 90

2. 88
3 06

1, 340. 4
91.0
869.2
100.1

669. 0
118.8
235. 2
7 1

251. 3
62.0
104.8
3.3

1, 390. 3
93. 6
909. 6
104.0

669. 2
142.3
221.8
7.3

263.3
56.1
107.9
3.1

1, 488. 4
108. 5
985. 7
113.2

669 0
128 5
234.9
91

39. 3
111.0
64. 5
38.7
26. 6

126. 4
85. 1
23. 9
57.0
15.5

1.4
61.9
4.5
8.3
5.1

40.4
112.9
62.5
38.6
28.7

127.5
86.9
18.0
57.5
7.9

4.3
71.1
6.5
8.1
6.2

38.9
114.2
58. 6
41.1
28.2

4.59
4.92
2.18
3.23
3.14
3 49
108. 90
117.61
47. 97
67.42
4.21
4.18
4. 54
4.79
3 89
2.58

4. 60
4. 93
2. 18
3.36
3. 15
3 49
111.68
122. 40
49.12
72.21
4.12
4.03
4.44
4.65
3 94
2.50

4.62
4. 95
2 21
3.36
3.15
3.49
111.49
122. 15
48. 54
71.63
4.14
4.05
4.55
4. 69
4. 06
2.49

4.63
4. 95
2.23
3.40
3.15
3 49
119. 66
133.41
49.21
72. 96
3.87
3.71
4. 53
4. 66
4.01
2.40

4. 66
5.00
2.23
3. 42
3. 15
3 49
123. 15
137. 85
51.39
71. 63
3.78
3. 63
4. 34
4. 77
3.95
2.45

4.79
5.18
2.23
3.42
3.15
3 49
122. 44
137. 59
51.43
71.06
3.91
3.76
4.34
4.81
3 93
2.56

4.81
5.20
2.24
3.42
3.23
3 49
122. 51
138. 21
49.83
69. 60
3. 93
3.76
4.50
4.91
4.06
2.67

Price per share, end of month (200 stocks) 9 ---do
Industrial 0°5 ^toeks)
do
Public utility (24 stocks)
do
Railroad (25 "stocks'*
_
- - do
Yield (200 stocks)
percent
Industrial (125 stocks) - .
_ _ .- -do-- Public utilitv (24 stocks)
do
Railroad (25 "stocks)
-- --do
Bank (15 ^tock Q )
do
Insurance (10 stocks)
- -do
Famines per share (at annual rate), quarterly:
Industrie 1 (125 <; :tock < 5)
dollars
Public utilitv (24 stocks)
do
Railroad (25'^tocks)
do
Dividend yields, preferred stocks, 14 high-grade
(Stand'ard and Poor's Corp.)
percent ..
Prices:
Dow- Jones & Co., Inc. (65 stocks)
dol. per share. _
Industrial (30 stock"), _
_ do
Public utilitv (15 stocks)
do
Railroad (20 stocks) _ _
.-. do-- .
Standard and Poor's Corporation:
Industrial, public utility, and railroad: d"
Combined index (480 stocks)
1 935-39 = 100. .
Industml, total (420 stocks) 9 _ _
do
Capital eoods (128 stocks)
do
Consumers' goods (195 stocks)
do
Public utilitv (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. ofdol..
Chares 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 shares listed
millions
r

10.90
3 08
8.86

9.70
3 03
7 00

o

294
85
112
2

f)
2
2
0

2 418 7
265. 8
1, 547. 0
230. 5

808.7
164.5
269. 5
9.7

3%3. 6
110. 3
98. 1
3.6

1 607 1
102. 7
1. 088. 5
115.0

128. 5
87.2
17 4
55. 7
7.7

1 5
73 4
3 4
9 7
7.2

42. 1
126. 4
117.4
51.3
38.2

136.5
87.0
40.1
91.5
9.9

1.5
75 2
12.4
18.1
4.4

41. 1
120. 3
68. 5
42.3
28 7

4.90
5.30
2.24
3.60
3.23
3 49
119.02
133. 96
48. 53
67.42
4.12
3.96
4.62
5.34
4 16
2.73

5.19
5 69
2.27
3 70
3.26
3 60
126. 95
143 78
49 90
74. 47
4 09
3. 96
4 55
4.97
4 09
2.63

5.21
5.71
2 97
3.79
3. 34
3 63
128. 03
145. 67
49. 35
72.29
4.07
3.92
4.60
5.24
4 23
2.69

5.22
5.72
2.27
3.86
3.34
3 65
123. 96
140. 11
49.10
70.76
4.21
4.08
4.62
5.46
4.40
2.84

5.24
5.72
2.28
3.86
3.34
3 87
128. 19
145. 53
49.66
71.45
4.09
3.93
4.59
5.40
4.41
2.87

5.25
5.73
2. 32
3 86
3. 36
3 87
136. 18
155. 90
51.38
76. 94
3. 86
3.68
4. 52
5.02
4 36
2.72

5 76
2.32
3 89
3. 36
3 87
136. 10
156 14
49 74
78. 32
3 87
3. 69
4 66
4.97
4 35
2. 89

3.99

4.01

4. 15

10.00
3 13
9.02

11.40
3 21
9.06

4.01

3.98

3.99

3.98

3.96

4.01

4.06

4.04

4.01

4.05

4.03

1 52. 75
408. 91
63. 87
149. 06

158.35
422. 99
64. 56
157. 51

157.89
421. 55
64. 06
157. 75

162. 77
440. 79
64.23
161. 16

166. 90
462. 16
65. 51
158. 98

164. 94
457. 29
65. 87
155. 19

169. 99
476. 43
65.36
160. 08

160. 92
452. 65
62.31
149. 99

169. 48
476. 59
64. 76
159. 29

172.36
484. 58
64.98
163. 34

168. 18
474. 75
63.60
157. 94

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

285. 0
319.7
331.9
239. 8
152. 3
250. 9
156. 7
327.0

300.7
340.5
356. 2
250.6
153.4
258. 9
157. 2
331.4

315.3
359. 6
369. 1
270.0
156.4
256. 1
158.4
334.5

311.0
354. 2
361. 6
269. 1
155. 9
250.0
160.4
320.5

323.2
371.1
380.3
282. 8
154.8
257. 0
165.3
314.9

306.2
350. 1
350. 6
272. 6
150.6
240.5
157.5
293. 1

321.5
369 2
370.2
285.9
153. 8
254. 6
160. 9
309.3

327.0
376. 8
379.0
284.2
153. 2
257. 7
162.5
315. 0

322.9
371.7
373.0
275. 8
152. 9
249.4
160. 9
308.1

324.4
372.8
372. 7
272.6
155.4
249. 6
155. 5
307.4

346. 7
401 . 3
403. 8
286. 5
158.6
264. 9
159. 5
332.5

3 795
3 155
135, 043 1 105,677

2, 675
98,219

3,247
116, 222

3,081
95, 984

2 579
84, 622

3, 323
107, 344

2 978
95, 888

2 728
101, 986

2,925
105. 915

r

2, 886
93, 041

2, 56Q
80, 942

3, 832
131,821

2, 316
68 645 i

2,784
79 175

2, 654
68 416

2,229
59 906

2,864
75 519

2, 598
66 364

2, 358
72 613

2,512
69 211

2,463
62 227

2.181
53 134

3,247
87 135

45, 427

58, 148

48, 459 i

41,806

60, 100

42, 178

46, 380

50, 991

47, 197

46, 401

60, 363

198, 228 i 197.994 '1• 197,536 \ 192,782 1 204,650 207, 699
3, 492
3, 475
3,836
3, 519
3, 560 5 3, 766
1
1

202, 336
3,862

3,277
91 259
66, 865 i

175, 806
3,262

2.734
71 171
53, 788

181,386
3,284

1

182, 830 : 194,406
3, 341 •
3, 434

r

168. 93
180. 80
176.71
475. 52
502. 67 ! 511.04
66. 20
65. 00
67.05
157.96 ! 167.71
172. 87
351. 1
408. 0
406. 2
280. 9
156.2
270. 5
160. 4
321.0

54, 106

209, 559 ! 223,887
3,898 ! 4, 063

Revised. *> Preliminary.
§ Sales and value figures include bonds of the International Bank for Reconstruction and Development not shown separately; these bonds are included in computing the average price of
all listed bonds shown on p. S-19.
9 Includes data not shown separately.
d" Number of stocks represents number currently used; the change in the number does not affect the continuity of series.




SURVEY OF CUREENT BUSINESS

M;i\

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

S-21

1955

^ larch

April

May

June

July

1956

Septem- October Novem- December
ber
ber

August

January

February

March

A pril

INTERNATIONAL TRANSACTIONS OF THE UNITED STATES
i
BALANCE OF PAYMENTS (QUARTERLY)

5. 403
610

5, 793
423

3, 536
553
766

3.383
591
819

3,815
775
780

4, 092
2, 762
113
648
569

4 444
2 799
126
759
760

4 553
2 814
130
673
936

4 567
3, 115
135
687
630

do _

+1,091

+1, 025

+850

+1, 226

do
do
do

1 224
-112
— 1 112

1 239
-110
— 1 199

1 131
-111
1 090

982
-130
—852

-74
-3

-71

—561
-397
-164

— 215
167
48

-391
—381
-10

_do _ _
do
do

+ 156
+30
+21

+538
+33
+204

-4-512
15
1

+257
8
— 102

1936-38 =100__
do
do

270
546
203

253
513
203

265
539
203

264
537
204

254
516
203

247
503
204

249
511
205

276
568
206

259
536
207

272
569
210

'245
518
'211

258
550
213

do
. _ do
do

173
490
283

150
425
283

166
464
279

164
458
279

155
428
277

167
468
280

163
463
284

175
494
283

181
512
283

172
491
285

179
511
285

175
504
287

1924-29 = 100
-do _

108
123

75
93

72
91

95
127

-do
- --do ._

160
183

113
133

108
126

145
175

do
do

111
99

99
93

109
111

97
104

91
100

100
106

95
97

102
101

106
111

. 94
94

6, 145
10, 294

7,789
8, 960

8,850
10, 372

9,466
11, 124

9,549
10, 524

10. 099
11.566

9. 760
11.061

10. 105
11, 264

8, 685
11,593

8,488
10,927

E \ports of goods and services, total
mil. of dol
Military transfers under grants net
do
Merchandise, adjusted, excluding military transactions
m il. of doL Income on investments abroad
do
Other services and military transactions
do

5,183
499
3,443
534
707

Imports of goods and services total
Alerchandise, adjusted o"
Income on foreign investments in U S
Military expenditures
Other services cf
-

I

5, 469
614

balance on goods and services.-

do
do
do
do
do

_

-

Unilateral transfers (net) total
Private
Government

U. S. long- and short-term capital (net), total - -do ..
Private
do
Government
. _
do
Foreign long- and short-term capital (net) _
Gold sales [purchases ( — )]
_ _ _ _
Errors and omissions
_ _
-_
FOREIGN TRADE
Indexes
Exports of U. S. merchandise :t
Quantity
Value
Unit value
_
Imports for consumption :t
Quantity
Value
Unit value
Agricultural products, quantity:
Exports, U. S. merchandise, total:
Unadmsted
Adjusted
_
Total, excluding cotton:
Unadjusted
. _
Adjusted .
Imports for consumption:
Unadjusted
\djusted

-

Shipping Weight
Water-borne trade:
Exports, iiicl. reexports §
General imports

thous. of long tons__
do

r
r

Value J
Exports (mdse.), including reexports, totall.mil. of doL. 1.343.2 1,262. 3 1,322.0 1,318.6 1,267.5 1.235. 2 1.254. 2 1,395.8 1.315.9 1, 398. 0 1,276.2 >• 1, 354. 7 v 1,550.0
By geographic regions: A
Africa
_ thous. of dol
52, 932
56, 081
66, 698
42. 742
56, 660
50, 399
52, 665
44, 510
44, 323 50, 839
44, 049
49, 664
Asia and Oceania ..
.
.do.- _ 232.903 196,171 198.204 176,952 184,873 161,185 176 693 199,356 200,626 216. 589 178,421 187,368
Europe
- - do
361.010 309,856 311,316 350,162 333,958 307.273 336,513 382.223 372,066 384. 872 376, 267 349, 264
Northern North \rnerica
do
265,309 278,947 293,188 286,647 254,761 272,453 276,804 295,787 277 585 276, 743 264, 041 304, 158
Southern North America
- do
147 904 142,880 134,698 138,381 136,205 134,995 136,805 147,106 155',347 162. 407 141,714 152,746
South America
do
135,949 137,448 135.911 125,918 132,532 130,295 128,330 139,424 139,695 170. 360 131, 575 150, 075
By leading countriesrA
Africa:
Eevpt
do
7, 566
7,879
7.078
7,945
7, 775
20 097
10,630
5 770
5.373
6, 106
5, 536
4. 503
Union of South Africa
do
24, 768
23, 660
25, 401
22, 200
18. 283
23, 186
24, 033
17. 090
19, 535
17, 308 24, 519
20, 863
Asia and Oceania:
Australia, including New Guinea
do
18, 568
13, 475
14, 401
13. 554
12, 221
13. 613
11,221
22, 427
16.674
17. 208
11,801
20, 892
British Malaya
do
3. 575
2,981
2, 389
3, 185
4, 035
2, 637
2,739
3, 445
3. 306
2.316
3, 191
3,093
China, including Manchuria
- d o <
0
0
0
0
0
0
0
0
0
0
3
0
27 099
India and Pakistan
do
20, 272
16, 829
20, 887
15, 359
22, 257
16, 842
20, 685
18,181
30, 106
15. 967
23, 388
Japan
do
1 ~.9 4S«
51, 605
50, 866
53, 128
48, 570
51, 225
45, 340
43, 866
54, 299
55, 105
67, 781
54, 145
Indonesia
do
8,044
5,919
4,532
(i, 331
8. 508
6, 958
5, 714
7, 826
7, 169
6, 784
5. 609
6. 020
Republic of the Philippines
do
35, 715
35, 928
28, 422
21, 666
23. 281
23,340
22, 172
26, 035
37, 759
22, 062
22. 310
31.531
Europe:
j
France
do
33. 098
27, 891
31,385
32, 964
26, 482
27. 350
38, 874
33, 614
29. 726
28. 376
29, 679
36. 175
East Germany
_
do
0
60
11
128
0
0
0
0
14
209
0
0
49 9<m
West Germany
do
47 512
55 955
46, 945
52, 755
47, 968
51, 153
49, 231
51,693
49. 307
59, 955
50, 358
Italy
.-_ - - __ do
| 2S 566
32, 263
32. 861
25.416
29! 712
23, 327
41,353
30, 692
28, 821
40, 188
35, 323
30. 939
Union of Soviet Socialist Republics . _ _ . d o .
15
33
1
12
1
1,243
3
4
10
0
64
0
United Kirmdom
_ __ _ _ - _ ^ d o .
78. 599
64, 290
59, 047
85, 699
61, 305
71. 100
74, 992
58, 705
76, 426
88. 940 101,419
81, 105
North and South America:
Canada
do
i 265,304 278,942 293,186 286,533 254,750 272,366 ; 276.775 295,786 277,585 276, 730 264,012 304, 158
Latin American Republics, total 9
do
267.398 265,651 256,887 251,759 257,111 252.834 ' 251.408 270,954 279,360 314,772 257, 328 288, 177
Argentina
do
10, 469
10. 229
12, 419 j 13, 366
13,379
17,719
11.993
16, 433
8,070
12, 860
9,037
11,055
Brazil
_ _
do
20. 013
18.328
25, 967
20, 832
17, 393
21. 923
16. 914
21,222
25, 475
18, 084
18, 707
22, 997
Chile
do
j 9. 897
6, 351
6, 656
6, 413
6, 188
7, 125
6. 546
7, 966
8,391
7, 253
8, 580
11,044
Colombia
do
28. 830
32, 560
25, 952
24, 432
23, 791
24, 632 I 25. 928
28, 786
27,312
35, 691 25, 389
28, 305
Cuba ._ _ do
41, 508
40, 201
37. 801
34, 934
32, 773 32,513 j 36, 078
39, 904
39, 792
40, 783
43, 816 37, 560
"
Mexico- . . --_
do-_
59, 046
58, 515
53, 868
56. 220
61, 083
59. 781
62, 194
55, 571
56, 758
66, 781
66, 640
66, 633
Venezuela. _
- - - do-- - 45, 372
47, 104
44, 246
40, 876
42,857 ! 40, 304
47, 648
45, 181
47, 080
54, 727 1 62, 927
49, 449 _ _ - . - i . . . - r
Revised.
p Preliminary.
cf Excludes military expenditures.
{Revisions for January 1954-January 1955 will be shown later.
§ Excludes "special category" shipments and all commodities exported under foreign-aid programs as Depa rtment of Defense controlled cargo.
1 Total exports and data by economic classes and commodities include shipments under the Mutual Security Program. Total MSP military shipments areas follows (mil. dol.): March
1955-March 1956, respectively—92.2; 93.9; 131.1; 128.0; 127.8: 127.9; 99.1; 119.3; 72.7; 84.1; 82.0; 89.8; 104.0.
AExcludes shipments under MSP and "special category" shipments not made under this program.
9 Include? countries not shown separately.




SURVEY OF CURRENT BUSINESS

S-22
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

Hay 1956

1955
March

April

May

June

July

1956

August

Septem- October Novem- December
ber
ber

January

February

March

INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Value}— Continued
1, 330.5

1, 249.4

1,313.0

1,309.1

1, 256.9

1, 226.4

1, 244.9

1,385.6

1, 306.3

1, 386.7

152,571
96, 536
69, 368
188,775
823,249

135,840
56, 235
61, 703
188,984
806,612

139,303
63, 227
59, 790
194,177
856,495

156,595
86, 650
73, 063
184,260
808,537

132,790
96, 513
69. 849
184,867
772,914

141,381
85, 507
62, 740
185,030
751,701

177, 044
70, 250
69, 862
199,018
728,713

206,890
62, 822
81,683
213,785
820,401

183,042
71,418
86, 525
196,182
769,141

175, 857
82, 944
86, 134
213.909
827, 895

144, 704
77, 186
T
88, 675
197, 268
r
755,511

125, 247
76, 231
96, 097
214, 835
828, 819

295,623
69, 564
24, 869
102,294
20, 815
26, 753

208,747
45, 680
22, 656
58, 145
22, 325
15, 506

228,620
43. 376
24, 182
64, 224
18, 839
18, 608

278,979
56, 379
25, 721
85, 933
18, 922
21,871

255,619
11,746
24, 621
97,541
18, 939
40, 523

225,297
11,957
24, 062
84, 421
19,811
36, 844

259,797
21,914
21, 872
76, 249
18,323
63, 749

289,945
35, 952
29, 171
65, 057
24, 599
63, 719

295,884
26, 697
24, 801
73, 431
25, 328
47,214

308, 301
31, 224
25, 037
80, 149
27, 219
34, 560

256, 395
15,807
22 230
76, 601
26, 791
33, 837

242, 682
18, 556
25, 224
74, 129
24, 698
22, 169

mil of dol

1, 034.9

1,040.6

1,084.4

1,030.1

1,001.3

1,001.1

985. 1

1,095.6

1,010.4

1,078.4

1, 006. 9 1, 098. 4

thous of dol
do
do
do

136,469
93, 307
22, 942
67, 108

148,774
99. 020
39, 990
67, 114

143,088
89, 240
41,355
67, 569

123,327
86, 360
45, 193
65, 277

108,275
86, 804
42,814
68, 262

96, 098
92, 027
51, 948
62, 729

88, 070
91, 268
53, 139
70, 339

91,
97,
56,
78,

135
653
172
295

107,368
93, 001
47, 614
75, 130

125,015
97, 131
46, 207
81, 173

112, 610
89, 838
46,510
76, 967

136, 215
96, 742
42, 329
83, 104

do
do
do
-do
do
do

268,932
12, 601
31, 694
71, 538
17, 074
121,852

271,173
13, 750
31. 595
78, 574
16, 596
117,708

270,407
13, 327
30, 975
74, 624
18, 740
119,042

250,899
11,673
30, 549
66, 342
17. 382
113,716

249,401
10, 978
27, 879
69, 077
16, 188
114,706

223,179 235,600
7,342
9, 203
23, 467* 20, 282
67, 298
58. 408
15, 754
14,906
108,280 114,741

268,822
7,402
30, 372
67, 842
19, 251
131,584

271,142
7,621
29, 046
71,665
17, 859
132,649

287, 346
9,424
34, 456
73, 541
19,834
137, 720

269, 423
9,213
30, 671
71,195
18, 829
127, 975

292, 628
10, 895
33, 567
73, 283
17, 060
145, 132

do
do

49, 973
63, 230

49,711
57, 248

56, 853
51, 135

55, 481
48 841

61, 548
43 155

53. 144
49 487

58, 566
56 184

48, 084
53 489

55, 684
49 669

50, 681
46 554

43, 076
52, 812

Exports of U. S. merchandise, totalU
mil. of dol
By economic classes: of
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
Nonagricultural products total©
Automobiles, parts, and accessories
Chemicals and related products§
Coal and related fuels
Iron and steel-mill products
Machinery, total §©
Agricultural
Tractors, parts and accessories
Electrical
Metalworking§
Other industrial
Petroleum and products
Textiles and manufactures

General imports total
mil of dol
By geographic regions:
Africa
thous of dol
Asia and Oceania
do
Europe
do
Northern North America
do
Southern North America
do
South America
do
By leading countries:
Africa:
Egypt
do
Union of South Africa
do
Asia and Oceania:
Australia including New Guinea
do
British Malaya
' do
China including Manchuria
do
India and Pakistan
do
Japan
-do
Indonesia
do
Republic of the Philippines
do
Europe:
France
do
East Germany
do
"West 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
Colombia
Cuba
M^exico
Venezuela

do
do
do
do
do
do
do
do

1,019.2

870.4

958.3

936. 1

885.0

959. 5

944.7

1, 009. 9

1, 064. 2

1, 014. 5 1, 072. 9

'1,049.3 pi, 149. 0

65, 463
188,101
225,193
212,854
145,597
181,963

56, 291
159,079
179,793
204,342
116,981
153,958

54, 865
189,069
195,358
229,938
121,215
167,877

46, 362
172,466
191,597
244,047
112,735
168,892

42, 577
173,845
186,553
208,752
96, 639
176,593

47, 570
187, 165
198,782
245,287
93. 949
186, 698

50, 444
169,326
207,204
234,430
91, 129
192,148

50, 189
167, 362
237,742
239,167
87, 889
227, 561

44, 716
184, 843
254, 637
240, 578
114,948
224, 517

63, 062
161, 765
233, 475
226, 240
117, 720
212, 216

50, 179
206, 141
250, 205
221, 697
141, 497
203, 188

62, 025
180, 609
227, 897
218, 252
141,219
219, 328

4,515
10,604

3,381
6,321

1,417
10, 905

1,868
9,328

2,273
5,801

1,365
4,273

1, 507
7,789

7,124

823

1,594
6,914

3,348
10, 993

1,411
8,421

3,551
11, 107

13,854
20, 906
1,034
25, 696
34, 509
18, 376
22, 673

13, 297
19, 629

15, 518
22, 967

6,026
22 300

13, 053
20 692

11, 251
22, 673

11,176
20, 946
2,547
17,416
38, 975
18, 461
19, 537

4,810
20, 155

10, 959
18, 474

7,111
17, 932

12, 002
22, 817

17, 875
43, 826
16, 259
15, 840

20, 492
47, 796
21,335
14, 699

20, 411
38, 156
20, 373
11,345

15, 150
23, 634
1,006
25, 443
50, 096
22, 241
24, 483

744

16, 666
28, 171
18, 337
22, 620

241

28, 378
33, 903
16, 605
24, 254

72

21, 967
34, 418
14, 507
28, 333

56

21,011
35, 882
15, 502
26, 229

848
18, 803
39, 384
18, 967
31, 290

807

664

874

22, 505
36, 718
17, 178
21,097

21, 438

19, 368

20, 924

18, 930

37, 000
19, 006

33, 569
17, 270
1,890
52, 150

38, 853
17, 745
1,485
50, 308

34, 325
14, 338

19, 838

16, 155

14, 962

16. 886

15, 508

17, 142

17, 441

17, 654

25, 893
14, 192

55, 443

50, 370

27, 653
14, 121
1,291
50, 567

32, 650
13, 461
1,386
46, 604

30, 199
12,413
2,025
52, 666

34,
14,
1,
55,

32, 511
11,716
1,983
49, 433

37, 740
19, 265
3.050
59, 543

212,816

204,325

229,906

243,904

208,598

244,918

234,095

239,167

240, 433

226, 209

221, 679

218, 152

297,929
13, 199
40, 652
17,417
32, 032
45, 858
40, 474
58. 568

251,199
11, 055
43, 923
17, 258
19, 994
36, 764
32, 355
44, 190

271,375
10, 593
42, 437
17, 087
33, 236
31, 686
38, 506
46, 293

261,568
12, 789
38, 917
19, 224
32, 901
35, 855
34, 310
44, 937

257,653
11,418
51, 823
14, 773
35, 452
32, 866
29, 847
42, 647

262,448
11,861
46, 809
15, 273
40. 067
33, 816
27, 147
50, 404

259, 869
13, 295
66, 033
14, 430
28, 699
32, 656
27, 100
42, 801

294, 402
8,583
77, 450
13, 522
60, 606
35, 471
20, 248
46, 159

312, 283
8,434
76, 885
23, 106
43, 716
37, 798
30, 671
49,915

301, 924
7,925
54, 736
20. 515
43, 653
28, 096
33, 328
63, 087

315, 008
17, 232
59, 618
10, 663
33, 852
35, 128
38, 377
56, 940

333, 678
14,790
66, 267
14, 765
42, 582
44, 089
41, 500
55, 827

597

866

' 633.200
Nonagricultural product 5 * total©
do
7,853
Furs and manufactures
do
Nonferrous ores, metals, and manufactures, total
95 787
thous of dol
31,636
Copper incl ore and manufactures
do
14 984
Tin including ore
do
28 296
Paper base stocks
do
51, 451
Newsprint
___
_
do
95 028
Petroleum and products
do

272

810

299

339

693

272

132
137
175
507

632

436

400

560

59, 403

775

519

742
445

56, 962

872.0

951.0

939. 9

878. 7

959. 9

950. 5

1,013.1

1, 050. 6 1, 006. 2 1,047.3

1, 034. 1

224 112
146, 751
92, 390
211,012
197 734

236 870
174, 986
88, 347
236, 283
214, 519

243 229
143 506
100, 368
235, 795
219 031

219 189
148, 679
93, 594
211,562
205 696

250 985
141,218
97, 165
253, 463
217 114

254 492
138, 533
90, 986
243, 032
223, 461

244 330
191, 034
95, 054
239, 802
242 843

247 693
193, 732
104, 694
251, 584
252, 943

267 928
172, 398
78, 589
255, 324
231 994

269 176
181,617
95, 007
254, 599
246 936

262, 490
195, 660
95, 962
245, 819
234, 133

318 529
18, 019
90, 882
4,342
40 661
37, 144
23 629

341 468
11, 452
120 060
6, 554
39 591
31,314
23 605

311 832
15, 579
90 136
5, 628
34 024
37, 399
22 752

300 317
8. 592
102 375
5,219
28 509
40, 308
22 096

315 847
15, 759
94 070
4, 837
39 854
42, 374
23 678

305 778
11,342
96, 678
3, 167
37 757
32, 656
20 963

352 526
9,869
146 813
4,887
38 286
28, 744
21 694

360 386
13, 987
138 192
4, 476
43 053
27, 898
18 899

320 453
12, 445
123 494
3.907
41 366
18,919
17 677

378 444
21, 123
122 248
5, 269
48 753
39 082
28 563

379, 003
16, 984
141, 490
5,793
43, 797
42, 663
27, 095

553,469
6,452

609,537
8 672

628,097
7,429

578,404
5 812

644,098
4 437

644,726
5,215

660,535
3, 403

690, 261
3, 568

685, 779
15, 145

668, 891
9 224

655, 061
9,067

98 176
30, 495
12 093
21 945
50, 320
73 770

109 206
30, 885
14 114
25 250
52, 767
76 345

110,090
40, 234
13 248
30 358
53, 239
80 678

99 814
34, 609
14 800
23 485
46, 794
75 385

119 896 122,872
42. 297 - 48, 236
13 874
15 366
31 738 : 28, 790
54. 381 ! 48, 449
85 459 i 84, 170

121 099
44, 911
15 091
28, 942
53, 222
81, 840

125 014
48, 285
14 272
29, 878
54, 722
95, 184

127, 804
50, 115
13 595
24, 595
57, 364
114,237

110 773
28, 393
16 350
29 361
55, 720
105 216

118,640
41,875
17, 361
28, 628
52, 629
103, 900

Revised.
v Preliminary.
{Revisions for January 1954—January 1955 will be shown later.
H See similar note on p. S-21.
c?Effective January 1956, classifications are based on Schedule G and are not entirely comparable with those for prior years.
9 Data for semimanufacturers reported as "special category, type 1" are included with finished manufactures.
©Includes data not shown separately.
§ Excludes "special category, type 1" exports.




965

31, 360
21, 298

1, 006.0
Imports for consumption total
mil of dol
By economic classes:
254 614
Crude materials
thous of dol
178, 541
Crude foodstuffs
do
Manufactured foodstuffs and beverages
do-.-. 104, 818
Semimanufactures
_ _ _do _ - 230, 406
237, 657
Finished manufactures
do
By principal commodities:
372 836
Agricultural products total©
do
26, 086
Cocoa or cacao beans incl shells
do
105, 413
Coffee
do
6, 181
Hides and skins
do
39 470
Rubber crude including guavule
do
44, 384
Sugar
do
26, 404
Wool and mohair unmanufactured
do

r

61, 867
46 060

1, 263. 3 1, 341. 2

r

April

SURVEY OF CURRENT BUSINESS

May 1956
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

S-23

1955
March

April

May

June

July

1956

August

Septem- October Novem- December
ber
ber

January

February

March

April

TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Airlines
Operations on scheduled airlines :§
Miles flown revenue
Express and freight ton-miles flown
Mail ton-miles
flown
Passenger? carried revenue
Passenger-miles flown revenue

thousands
_ do
do
do
millions

45, 696
18, 174
7, 597
2,732
1,521

45, 786
17, 427
7 268
2,950
1,620

47, 302
17, 727
6,976
2,976
1 592

47, 526
18, 933
6 910
3,121
1 765

49,180
16, 967
6 305
3,070
1 760

50, 060
20, 578
6 827
3 064
1 748

48 394
21,366
6 736
3 071
1 692

49 201
21, 526
7 015
3 081
1 674

45 592
19, 257
7 009
2 705
1 453

48 500
21,510
10 077
2 724
1 578

47, 988
16, 756
7, 145
2,810
1,653

44
16,
7
2
1

thous of dol
do

32, 326
13,712

29, 580
11,411

29 921
11, 483

33 341
13 858

29 622
10 314

32 560
12 392

32 986
13 421

33 730
14' 193

33 761
13 476

40 978
14 304

29 516
8,322

29 441
8 836

cents
millions
mil. of dol

14.2

14.3

14.3

14.3

14.4

126.3

124.2

121 8

116.3

107 9

_

500
108
181
645
507

Express Operations
Transportation revenues
Fxpress privilege pavments
Local Transit Lines
Fares average cash rate
Passengers carried revenue
Operating revenues

837

800

802

756

665

14.8

710

781

115 2

3 417

2,713

2, 751

3,517

2,969

14 5

14 6

14 6

768

14 7

773

111 3

120 1

122.5

131 7

700

745

14.9

14.7

119.4

14 4

113.4

801

737

Large Motor Carriers (Intercity)
Carriers of property (quarterly totals) :1
\ T umber of reporting carriers
Operating revenues total
thous of dol
Fxpen^es total
do
Revenue freight carried
thous of tons

763, 552
722, 339
52, 405

Carriers of passengers, class I (quarterly totals):
Number of reporting carriers
Operating revenues total
thous of dol
Expenses total
do
Revenue nassengers carried
_
thousands

77, 332
77, 876
70, 136

789

787

159

783

789

789, 338
748. 376
53, 467

865, 023
851,862
58 566

807 935
771 144
54 515

159

157

153

110 236
90 926
80, 363

92, 607
83,613
76, 367

89 499
86, 371
80, 198

Class I Steam Railways 0
Freight carloadings (A. A. R.):^
Total cars
thousands
Coal
-. - - do
Coke
do
Forest products
- _
do
Grain and grain products
do..
Livestock
do
Ore
_ _ - do
Merchandise, I. 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
__
do
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?
number-Box cars
do
Gondolas and open hoppers
-do _ .
Car shortage, total? __.
_ . _ -do- _
Box Cars
do
Gondolas and open hoppers
do
Financial operations:
Operating revenues, total 9
mil of dol
Freight
- _- -._-.
-do
Passenger
do
Operating expenses
do
Tax accruals, joint facility and equipment rents
mil. of dol- Net railway operating income
do
Net income 1
do
Operating results:
Freight carried 1 mile
mil. of ton-miles
Revenue per ton-mile
... _ -cents _
Passengers carried 1 mile, revenue.
millions

3,256

537
53
209
213
34
81
314

' 2, 757
'453

'45

'163
'176

'33

'159
'244
' 1, 483

3,063

510
47
179
194
29
307
251

3, 085

529
47
186
208
23
332
258

3,731

553
57
219
335
27
416
324

3 114

3 142

52o
50
192
217
27
344
257

535
51
185
208
40
352
249

4 124

697
66
231
287
71
410
327

3,054

559
53
167
207
50
251
247

726
69
210
220
46
103
284

573
55
173
185
34
74
225

563
55
173
182
26
80
238

536
52
179
196
29
202
245

662
67
226
239
35
110
312

1,547

1,503

1,799

1,499

1,522

2,036

1,520

1,760

1,394

1,433

1,866

1,529

115
91
134
135
120
49
59
40
137

120
95
142
133
123
58
136
39
140

130
105
147
145
137
52
271
40
146

130
99
148
153
155
41
296
42
144

131
104
151
146
197
41
305
42
140

131
109
160
156
152
49
303
41
142

138
115
167
155
154
80
320
41
151

139
115
166
149
162
103
283
41
154

135
121
173
141
149
91
212
40
149

124
124
181
140
127
66
73
37
137

124
123
181
145
135
62
67
37
137

121
115
171
141
129
47
71
38
136

123
109
168
146
135
50
78
39
140

128
111
164
145
138
52
180
39
144

123
91
133
135
130
62
204
40
144

123
95
144
133
140
65
177
39
142

128
105
149
139
155
57
177
40
144

125
99
151
147
152
50
191
42
140

125
104
156
145
164
50
190
43
139

126
109
166
148
141
51
202
40
140

127
115
169
143
138
60
213
39
139

129
115
169
141
162
67
202
40
141

131
121
173
144
152
72
202
40
143

134
124
172
158
136
68
235
39
145

137
123
172
161
135
65
268
39
149

132
115
161
147
131
59
285
39
145

133
109
167
146
146
63
268
39
148

132
111
167
145
157
59
235
38
146

38, 468
3,351
28, 230
1,427
1, 334

21,810
2,398
11,657
2, 418
1,834

9,583
3,383

5,045
453

3,505
136

3,574
247

5, 558
598

5,757
1 451

5,121
979

3,854
777

4,477
366

10, 456
6 103
3,788

8,467
250
3,008
13,491
10 824
2,362

5, 164
274

281

14,414
2,911
2,317
6,350
3 866
2,048

13, 369
8 018
5 179

12 922
7 299
5 332

20, 942
11 615
8*692

15 916
8 952
6 672

3 673
1 484
2 005

2,945
1 503
1 246

3 355
2 366

4 802
3 844

5 674
3 797
1 430

825. 2
703.2
56.5
612.0

796 0
673. 9
58.2
602 2

850 4
724.7
59.2
634 9

875 1
737.9
66 8
644 9

849 6
711.2
70 0
644 8

905
764.
68
669

876
745
59
651

907
777
55
671

873
744
57
656

9
1
8
8

858 2
706.4
69 9
695 2

831 6
703.9
65 1
661 4

814
695
57
641

889 0
759. 7
59 7

115.4
97.7
77.9

106. 4
87.4
67 0

114.2
101. 2
86 7

124.2
106 0
88 1

112.1
92 6
72 4

125.7
109 7
90 6

121.0
103 8
79 6

125.4
110 9
90 0

114. 1
103 1
79 9

85.3
77 8
05 o

107. 3
69 Q
46 4

106 1
67 0
47 1

50, 996
1.423
2,117

51, 205
1. 372
2, 222

55, 833
1. 354
2,270

54, 938
1.389
2, 561

54, 463
1.366
2,793

57 044
1 . 373
2 743

57 222
1.351
2 315

60 694
1.332
2 152

55 229
1. 385
2 162

53 722
1.366
2 646

54 350
1.339
2 449

53 044

1,815

34

866

372

1
9
2
7

297

6
9
6
8

894

6
5
9
3

359

870

761

448

870

2
1
3
1

444

165

740

~

89 0

Waterway Traffic
Clearances, vessels in foreign trade:
Total U. S. ports
thous. of net tons
9, 586
11 180
10, 150
11 570
11 806
11 9QO
9 961
11 846
11 978
11 319
10 7?9
Foreign vessels, _ _
. _ ._
do
6,944
7,362
7, 983
8,497
8 620
8 768
7 823
8 807
8 828
8 321
8 1?2
United States vessels. __
___ _do ,
3,197
2, 643
2,788
3,073
3, 186
3,222
2 607
3 039
2 139
3 150
2 998
Panama Canal:
3,669
Total
__
-. _ _ _ _ -thous. of long tons__
3,760
3, 750
3,464
3,932
3,703
3 883
3,810
3 819
3 279
3 707
3 508
In United States vessels
do
1,123
1,316
1,333
1,305
1,419
1,469
1,268
1,051
1,517
1 . 045
894
'968
T
Revised.
§Beginning January 1955, data include local service operations of one carrier.
IData beginning 1st quarter 1955 cover large motor carriers having annual operating revenues of $1,000,000 or above.
0 Beginning January 1956,, data represent operations of 121 carriers on the revised. I. C. C. list of Class I line-haul railroads; earlier data cover 129 carriers.
d"D_ttsj for March, July, October, and December 1955 and March 1956 are for 5 weeks; other months, 4 weeks. 9 Includes data not shown separately. iRevised data for February 1955,
$46,496,000,




SURVEY OF CURKEXT BUSINESS

-24
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

1955
!
March j April
1
|

|
\ June
|

May

July

195f>
August

Septem- October Novem- Dtcember
ber
ber

January

February

March

Apri:

TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION— Continued
i

Travel
Hotels:
\verage sale per occupied room
dollars
Rooms occupied
percent of total ..
Restaurant sales index
same month 1929=100.Foreign travel:
U S citizens' Arrivals
numberDepartures
do
\liens' Arrivals
do
Departures
. __do_- Passports issued and renewed
do
National parks, visitors
. _ .thousands. .
Pullman Co.:
Revenue passenger-miles
_ .. ... millions _
Passenger revenues
thous. of dol

7.02

7.65

6.98

7.61

7.19

7.97

7.78

8.17

8.07

7. 10

7.53

241

259

277

280

235

260

258

265

260

236

257

91,535
98.615
51,580
38, 963
56, 399
437

90, 092
104,604
57, 129
40, 232
60, 675
690

109, 558
107, 290
61 419
42, 713
71, 055
1,162

105, 876
140, 127
60. 765
53, 226
71, 626
2,547

134, 363
149, 959
64 022
50, 396
40, 624
4,492

157, 479
113, 468
73, 692
51, 897
40, 963
4,472

134,963
87, 534
80, 738
51, 205
31,086
2,070

104, 192
75, 861
66, 381
45, 025
26, 746
1, 170

84, 890
68, 484
56 839
38, 984
25, 996
432

83, 769
77 843
58 763
49, 371
28, 310
310

84. 006
88, 208
56 135
34. 274
36, 660
345

545

533

561

9, 181

75

73

74

74

65

71

74

78

71

71

58

600

543

1, 884

7, 129

521
6,823

571
7,500

7,148

564
7,388

6,971

555
7,252

7,311

599
7,827

454., 235
260, 606
157, 059
307, 210
59, 123
46, 545

449, 942
261, 586
151,080
299, 165
61,148
46, 746

457, 793
263, 022
157, 307
306, 503
61,220
46, 961

460, 582
264, 035
158, 688
304, 354
64, 294
47, 175

454, 265
261, 072
155,069
301, 554
61, 979
47, 406

475, 538
265, 605
170, 757
318, 788
64, 084
47, 652

467, 757
267, 576
160, 757
309, 829
64, 401
47, 952

475, 879
273, 400
162, 431
312, 558
68, 096
48, 232

477, 855
275, 117
162,516
317,949
66, 582
48, 550

494, 741
281,632
171,100
339 907
67 361
48. 928

19, 859
16,332
2,677

18, 920
15, 825
2,254

19, 598
16, 446
2,300

20, 042
16, 535
2,660

18, 110
16, 574

714

20, 175
17, 215
2, 155

19, 451
16, 926
1, 758

19, 074
16, 470
1,872

18, 665
16, 365
1,592

2,933
2,068
599

2,579
2,088
236

2,771
2,131

2,902
2,123
521

2, 769
2,128

2,817
2,156

2, 963
2,169

367

2,831
1,983

2,893
2,306
466

2, 689
2,275

2,743
2,317
306

2,875
2,302
452

2,761
2,272

701

7. 47
75
257 '

7. 30
72
239

87, 568
50 935

44,658 ;
356 '

61.160
451

70, 53

606 '
7,938 '

COMMUNICATIONS
Telephone carriers:
Operating revenues 9
Station revenues
Tolls, message
Operatins expenses before taxes
Net operating income
Phones in service, end of month

thous. of dol _ _
do
__do_do
do
thousands _ -

Telegraph, cable, and radiotelegraph carriers:
Wire-telegraph :
Operating revenues
..
-thous. of dol .
Operating expenses, incl. depreciation
- do..
Net operating revenues
do
Ocean-cable:
Operating revenues
do
Operating expenses, incl. depreciation
_ _ do _ .
Net operating revenues
do
Radiotelegraph:
Operating revenues
do
Operating expenses, incl. depreciation _ _ _ d o .
Net operating revenues
do

296

364

374

374

516

2, 954
2,247

2, 997
2,300

601

585

578
2,985
2,311
572

;

487, 210
281. 381
164.415
322, 446
66 367
49, 216

481,642
279, 770
160,248
317, 403
65 936
49,488

20, 376
17, 209
2 770

18, 720
16,658
1 155

18,395
15. 985
1 52?

2,724
2,030
448

3,040
1,966
798

2,903
2,145
482

2, 692 i
2, 066

2, 973
2,428

3, 250
2, 557

3,083
2,453
512

2 961
2.390

473

r

639

.

369

465

CHEMICALS AND ALLIED PRODUCTS
1

CHEMICALS
Inorganic chemicals, production:
Ammonia, synthetic anhydrous (commercial)
short tons.
Calcium carbide (commercial)
do
Carbon dioxide liquid, gas, and solid
do
Chlorine, gas
do
Hydrochloric acid (100% HC1)
,
do

285, 239

72, 522
53,813
269, 319
69, 599

286, 567
71, 923
58, 644
235, 158
59, 266

296, 799
74, 505
73, 859
294, 847
71,677

261, 285
73, 941
80, 244
292, 908
73, 362

236, 759
77, 527
91, 906
291,424
68, 693

237, 202
74, 634
96, 362
295, 492
66, 577

231,954
71,374
77, 167
293, 929
69 399

265,868
76, 033
63, 138
316,614
79, 237

268, 859
80, 686
52, 806
308,113
76 418

272,
85,
49
316,
78

748
611
467
948
154

279, 055 '286,743 i 313.048
83, 335
91 550 ; 87 155
49 087
46 482
318, 438 r303 052 326,480
74 897 i 81 245
81 021

206, 932
2, 466
312, 208

201,956
2,422
311,551

191,743
2,422
306, 851

178, 428
2,326
261,312

173, 595
2, 249
197, 401

173, 057
2,397
244, 502

173, 097
2,384
318,254

190, 556
2,582
320, 269

199, 341
2,644
298, 313

212 921
2, 734
304, 081

216 361 '211, 530 231 405
2.732
2 636 '
329, 101 313, 691 331. 582

420, 085
9, 538
317, 245

387, 242
9, 657
278, 266

442, 594
10, 734
336, 554

416, 147
10, 289
338, 232

380. 422
9, 690
330, 413

392, 964
9, 967
332, 687

413, 071
9, 982
334,488

442, 612
10, 801
357, 013

434, 159
10, 287
345, 872

432, 319
10, 398
356. 573

428 654
11.383
357, 956

416 418
10, 347
341,351

62 841

48, 451

54, 900

56, 923

40, 905

42, 238

55, 154

56, 279

58 811

53 K26

55 209

57 706

68, 483

66, 972

70, 365

66, 925

63. 263

66, 232

67, 906

74, 570

74, 934

70, 329

76. 575

68,390

1, 388

1,339

1,373

1,255

1,122

1,202

1,259

1,355

1,418

1,469

1,437

1, 350

1. 441

22.35

22. 35

22.35

22.35

22.35

22.35

22.35

22.35

22.35

22.35

22.35

22.35

P22. 35

48, 100
78, 590
1, 509

45, 256
72,127
1,217

41, 621
70, 477
1,413

43, 729
67, 664
1,406

43, 987
66, 359
1,099

44, 647
69, 499
912

47, 421
66, 299
716

47, 014
70, 722
1,705

47, 263
73, 491
1,385

47, 771
80, 027
1,606

49. 619
77, 404
1,225

42,662 !
73,385 ! . . .
1,931 1

35, 615
48 109
27,316
20, 793
37, 855
927

37, 784
49, 720
27. 991
21, 729
36, 230
650

39, 523
51 873
30, 904
20, 969
35 023
795

36, 499
49, 984
28, 545
21, 439
37, 046
902

35, 855
44, 842
31,257
13, 585
40, 970
720

36, 263
38, 560
24. 877
13, 683
39, 225
1,007

40, 923
39, 417
25, 994
13, 424
37, 831
929

40, 903
40, 273
28, 062
12,211
36, 894
908

41,911
44 710
34, 912
9,798
37 787
946

41, 172
40 479
30, 726
9,753
49 178
888

40, 447
41, 989
33, 245
8,744
38, 770
783

39 122
36 999
28, 070
8. 928
42 042 ^
867 1

20, 404
20. 645
5, 238

19, 504
20,156
4,504

18, 878
19, 382
4,013

19, 989
18, 585
5,267

22, 180
18, 874
8,642

21, 140
21, 476
8,383

20, 425
18, 893
9,825

19. 914
22, 607
7,079

20, 383
21 273
6 065

26, 421
25 491
7,701

20, 378
21, 748
6, 487

22,666 ! 26,629
22 464 !1 23 687
6, 699
9, 551

8,538
13,014
11. 567
10, 681
Creosote oil, production
thous. of gal. _ 11,064
10,167
10, 340
9,807
11,334
11,277
10, 456
10, 190
9,216
10, 703
10, 273
10, 673
DDT, production
- thous. of lb.
7,726
7,017
6, 639
4,571
9, 006
6,171
7,809
7, 765
Ethyl acetate (85%), production
do
82, 831
86, 963
60, 605
72, 854
84, 693
74, 909
55, 756
84, 885
Ethylene glycol, production
do
82, 131 • 93, 912
99, 344
97, 092 107, 005
Formaldehyde (37%HCHO), production
do. . 111,366 104, 641 104, 700
Glycerin, refined, all grades:
15, 608
22, 102
21,384
20, 032
18, 345
20 461
20, 436
Production
do
23 093
14, 165
15,692
15.848
17, 193
16, 510
16, 055
Consumption
..
. do- _. 16,306
17, 647
25. 880
28, 699
28, 146
Stocks, end of month _ _._ ...
.-do 26, 913
27, 061
29, 200
30, 241
28, 688
Methanol, production:
181
192
167
185
190
186
187
197
Natural, !
thous. of gal-17, 463
17, 465
15, 531
15,886
17,590
16, 740
16, 071
17, 698
Synthetic
- - - - -do
31, 582
29, 735
29, 263
29, 339
30, 414
24, 851
Phthalic anhydride, production
thous. of lb._ 30, 450
31,174
r
Revised.
* Preliminary.
9 Includes data not shown separately.
cf Data (except for alcohol) are reported on basis of 100-percent content of the specified material unless otherwise indicated.

10, 723
10 310
6,124
75 535
111, 181

9, 710
10 991
7,636
82 575
107, 479

21 819
17 054
30 546

22 943
15 719
34, 280

186
17 206
29, 980

196
19 675
29, 749

Nitric acid (100% HNOs)
do
Oxyuen (high purity)
mil. of cu. ft
Phosphoric acid (50% HsPOO
short tons..
Sodium carbonate (soda ash), ammonia- soda process
(58% Na2O)
short tons
Sodium bichromate and chromate
do
Sodium hydroxide (100% NaOH)
do....
Sodium silicate, soluble silicate glass (anhydrous)
short tons
Sodium sulfate (Glauber's salt and crude salt cake)
short toris-.
Sulfuric acid:
Production (100% H2SO4)
thous. of short tons
Price, wholesale, 66°, tanks, at works
dol, per short toriOrganic chemicals:cf
Acetic acid (synthetic and natural), production
thous. of l b _ Acetic anhydride, production . _
- _ ..-do Acetylsalicylic acid (aspirin), production _ do
Alcohol, ethyl:
Production
thous of proof gal
Stocks, end of month total
do
In industrial alcohol bonded warehouses-- do
In denaturing plants
do
Used for denaturation
do
Withdrawn tax-paid
. _ ._
- do _ Alcohol, denatured:
Produ ction
thous. of wine gal - _
Consumption (withdrawals) _
- do
Stocks, e n d o f month
_ _
_ _ _ _ _ _ _ -do..-




:

436 137

369.483

40 838
35 728
28, 682
7, 045
49 506
1, 061

' 9, 539 8.787 '
10 742 :
11 592
7,702
9, 360
90 684
81 911
111, 691 110, 519
24 836
16 297
36 680
r

206
19 020
30, 522

r 23 114
29 641
15 686
16*608
37, 448 i 38, 659
178
17 070
28,714

SURVEY OF CURKENT BUSINESS

MMV inr>o>

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
March
BUSINESS STATISTICS

S-25

1955

April

May

June

July

1956

August

Septem- October Novem- December
ber
1 her

January

February

March

1, 528

April

CHEMICALS AND ALLIED PRODUCTS—Continued
FERTILIZERS
thous. of short tons-1,839
287, 014
- short tons
do
59, 568
183,344
- do
_ _ _ _ _ _ _ _ _ _ _ , do
24, 519

1,650
378, 068
76,515
268, 969
11,172

1,001
324, 909
48 403
257, 181
12, 160

232
33
177,
9

559
878
511
583
242

241
285 452
31 568
206, 699
35, 078

172
351,885
40 228
270, 631
30, 368

488
76
377,
24

Imports, total 9
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

353, 695
256, 702
70, 535
20, 126
48, 161

241, 269
177, 029
61,015
9,712
25, 904

227, 540
160,943
71 768
8 030
15,778

164, 745
113 116
52 914
2 536
12, 104

146, 927
80 698
42 876
15 898
28, 107

124, 702
82 693
26 074
10 421
6,798

175, 655
120 566
57' 674
9' 784
17 946

51. 25

51.25

51.25

51. 25

51.25

51.25

51.25

51 25

51.25

51 25

Potash deliveries
_ . - - -- short tons
Superphosphate (100% available phosphoric acid):
Production
- _ short tons
Stocks end of month
do

266, 832

235, 857

164,411

61, 750

93, 209

115, 859

137 897

145 617

161, 564

153 431

228, 764
274, 322

233, 572
221, 442

210,818
248 022

143,181
289 542

93, 769
291 246

136, 990
292 176

182 209
301 413

214 898
318 512

216, 247
333 608

rl
231 613 1253 904 243 r934 250 20S
378 360 J418 373 1-1432 . 24 372 800

876
58, 535

685
62, 651

346
65, 632

280
68, 967

315
60, 043

478
74, 622

466
69 589

521
69 983

411
67, 244

418
63 900

522
65, 162

461
62, 357

435
3,091

438
2,996

456
2 925

425
2, 875

488

501
2,943

499
3 000

545
3 004

537
3 095

574
3 181

531
3 216

476
3 194

16, 056
13, 004
14, 590

15, 888
12, 356
15, 067

22, 451
15, 394
15, 893

16, 823
14, 938
15, 398

14,552
12, 927
14, 283

19, 094
15, 322
14, 299

16 956
15 018
12, 277

16 326
15 143
11 399

20, 261
14, 532
13, 492

16 158
11 312
15, 423

17 913
12, 499
14,519

21 294
15, 024
14, 398

18 957
14, 386
12, 316

202, 762
140, 061
251, 603

192,363
129, 273
243, 923

203, 501
138, 140
241, 165

204, 311
132, 798
237, 456

190, 483
98, 629
249, 906

216, 060
128,855
251, 071

206 370
138 630
252, 569

221 236
137 471
240, 419

249, 132
134, 692
267, 871

237 018
137 387
289, 745

240 277
127, 518
303, 179

241 645
132, 720
318, 893

240 360
138 274
331, 771

345
10, 564
46, 141

1,415
12, 732
36, 962

9,989
11, 438
36, 045

40, 574
10, 968
68, 129

33, 986
9, 337
61, 779

28. 944
9,653
70, 455

26 161
11,233
94 337

15 432
12 375
98 049

12, 200
12, 977
104, 893

5 235
13 796
104 728

1 570
10,911
85 414

r
497
13, 562
69, 536

492
13, 059
52 995

493
564

441
486

443
496

415
495

390
391

4U
447

493
482

671
573

665
597

616
591

639
590

607
614

584
624

645
714

617
703

579
656

514
564

490
479

485
429

504
409

563
426

654
468

678
523

692
567

645
566

621
550

27, 248
40, 233
1,402
38, 832

26, 052
38, 601
2,602
36, 000

50, 809
42, 447
2,766
39, 681

77, 636
45, 936
2,194
43, 742

111,154
36, 639
3,503
33, 136

40, 770
34, 325
1,299
33, 026

68
32
3
28

771
250
933
318

63 517
24 732
1 145
23 587

76, 916
43, 677
3,375
40, 302

131 374
51, 958
3 102
r
48, 856

109 214
29, 121
2 683
26, 438

28, 344
15, 313
34, 819

31, 089
16, 674
25, 234

28, Oil
19, 231
31, 743

32, 933
18, 474
30, 524

22, 926
22, 292
28, 115

31, 203
17,697
25, 099

27 420
24 085
42 014

31 940
19 431
27 335

26, 873
17, 267
23 401

25 407
20 137
22 268

31 035
23, 721
37 014

21 590
16 460
22 990

24 593
23 023

36, 068
32, 005

40, 438
28, 240

36, 056
29, 282

41, 327
30, 955

29 144
23 909

39 835
38 211

34 747
34 988

40 689
32 465

34 378
31 688

32 532
25 719

39 330
28 902

27 263
30 376

31 511
33* 254

Consumption (10 States)©
Exports, total 9
Nitrogenous materials
Phosphate materials
Potash materials
.

292
980
340
472
752

440
472 184
g9 376
362^413
13 771

42*
335,778
86 295
239,033
18 490

380
355 131
107 810
228, 560
11,379

404
296 391
76 338
196, 184
12, 542

703
403, 162
76 991
288, 648
30, 016

148,
85
9g
8
33

175,
121
34
10
33

194,
126
53
19
40

265, 143
200 045
51 124
10 200
38,378

246, 620
173. 386
25 109
7,920
32, 974

51 25

51.25

p 51 25

198, 820 223, 621

210,257

981
0
273
654
838

4 i;)

413
309
652
157
407

828
7F9
060
962
156
r

MISCELLANEOUS
Explosives (industrial), shipments:
Black blasting powder
. _ _ _ thous. of lb__
High explosives
._ - - - do
Sulfur (native):
Production
thous. of long tons
Stocks (producers')* end of month
do

526
70, 071

FATS, OILS, OILSEEDS, AND BYPRODUCTS
Animal fats and greases:^
Tallow, edible:
Production
thous. of Ib
Consumption, factory^
._
do
Stock (in cl. refined grades), end of month . do. _
Tallow find grease (except wool), inedible:
Production
do
Consumption, factory f.
- do
Stocks (excl. refined grades), end of month_ .. do_ _
Fish and marine mammal oils: A
Production J
do
Consumption, factory
__
do
Stocks, end of month
do
Vegetable oils, oilseeds, and byproducts:
Vegetable oils, total:
Production, crudej _ _
Consumption, crude, factoryt
Stocks, end of month :J
CrudeJ
Refined §
Exports
.
Imports, total
Paint oils
All other vegetable oils
Copra:
Consumption, factory
Stocks, end of month.
Imports
Coconut or copra oil:
Production:
Crude
Refined
Consumption, factory:
CrudeJ
Refined
Stocks, end of month:
Crude
Refined
Imports

_

mil. of Ib
do___
do
do
thous. of Ib
_ _ do do
__ _ _
do

._.

short tons
_do __
do

__.

thous. of Ib
do

126
40
2
38

802
859
836
023

r

r

. . . ...

do
do

49, 801
28, 476

43, 342
27, 496

46, 344
29, 755

46, 234
26, 402

34, 598
21, 431

54 334
33, 155

52 944
32, 556

49 213
32? 720

49 273
32, 535

42 972
27 072

47 851
27 613

48 172
30 756

52 514
31* 756

_

_do
do
do

68, 573
11,844
12, 225

73, 996
11,054
9,633

73. 119
9,554
9,835

78, 603
10, 174
14, 265

84 979
12 760
10 969

85 529
13 242
15 790

82 533
14 067
8 771

78 825
12 581
9 244

75 871
14 407
19 139

75 913
13 164
10 367

82 707
15 1(B
20 085

71 642
12 468
8 259

66 659
16 433

36
438
1,010

13
318
705

7
285
422

19
197
243

131
165
209

349
212
345

1 066
494
917

1 689
708
1 898

1 406
781
2 523

570
672
2 421

169
692
1 898

72
618
1 353

38
497
895

218, 928
278, 909

154, 119
273, 098

139, 630
266, 945

95, 378
237, 998

78 293
203, 090

103 409
169, 703

233 349
150, 240

328 503
170, 721

370 633
173, 742

317 153
163, 049

320 731
191, 461

287 668
220, 215

229 954
250, 690

150. 978
125, 738

110, 834
106, 593

101, 987
96 409

67, 251
73 552

56 962
53 915

70 391
58 955

159 431
87 689

236 807
155 640

262 589
204 267

226 931
192 182

211 401
180 058

170 524
155 007

161, 402
138, 285
28, 949

117, 110
119, 302
19 165

105, 709
135, 366
21 325

87, 033
134, 560
20 718

59 120
95 852
14 330

57 996
105 137
16 336

96 846
101 707
20 868

140 847
125 255
24 473

189 943
130 453
31 115

185 720
117 038
26 834

231
192
174
123
31

182 780
147 672
30 949

180 538
148 382
32 223

568
.198

562
.199

Cottonseed:}:
Receipts at mills
thous. of short tons
Consumption (crush)
do
Stocks at mills, end of month _ _ _ _ _
do _
Cottonseed cake and meal:J
Production
short tons
Stocks at mills, end of month
do
Cottonseed oil, crude:t
Production
_
.__ thous. of Ib
Stocks, end of month
do
Cottonseed oil, refined:
Production
do
Consumption, factory
_ __do In margarine
do
Stocks, end of month §t
Price, wholesale, drums (N. Y.)

mil. of Ib.-.
dol. per lb__

041
547
915
015
208

527
433
287
344
324
273
283
378
397
417
417
.222
.207
.201
.215
.188 1
.204
.188
P . 223
.191
.192
.188
f
Revised.
» Preliminary.
1 Beginning 1956, "other phosphatic fertilizers" are included. Such data for January 1956 are as follows: Production, 17,340 tons; stocks, 20,843 tons.
© 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): 1955—January-March, 287; April-June, 349; July-September, 71; October-December, 92; 1956—January-March, 270.
9 Includes data not shown separately.
cf'For data on lard, see p. S-29; figures prior to 1955 for tallow will be shown later.
^Consumption figures for edible tallow exclude quantities used in refining; those for inedible tallow, etc., include such quantities.
A Beginning 1955, data may include some refined oils (not formerly included): consumption figures exclude data for cod, cod-liver, and other liver oils, and stocks include only the quantities
of these oils held by producing firms.
} Revisions for January -July 1954 (August 1953-July 1954 for cottonseed and products) will be shown later.
§ Includes stocks owned by the Commodity Credit Corporation.




SURVEY OF CURRENT BUSINESS

S-26
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

1956

1955
March

April

May

June

July

SeptemNovem- DecemOctober
ber
ber
ber

August

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 Ib
Consumption, factory*
do
Stocks at factory, end of month* - _
do_ __
Price, wholesale (Minneapolis)
dol. p e r l b _ _
Soybeans:
Production (crop estimate)
thous. of bu
Consumption, factory
do. _
Stocks end of month
do
Soybean oil:
Production:
Crude
thous. of lb_
Refined
do
Consumption, factory, refined*
do
Stocks, end of month:
Crude
do
Refined*
do
Price, wholesale, refined (N. Y.)
dol. per lb_
Margarine:
Production
thous of Ib
Stocks (factory and warehouse) endofmocf do
Price, wholesale, colored; delivered (eastern IT. S.).
dol. per lb__
Shortening:
Production
thous of Ib
Stocks end of month cf
do
PAINTS, VARNISH, AND LACQUER
Factory shipments total
thous of dol
Industrial sales
do
Trade sales
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, and tubes
do
Other cellulose plastics
do
Phenolic and other tar acid resins
Polystyrene
Urea and melamine resins
Vinyl resins
Alkyd resins
Rosin modifications
Miscellaneous

do
do
do
do
do
do
do

1

1
1

40, 638

3,138
2, 559
3.25

1,861
1,654
3.24

2,014
1,006
3.34

1, 552
1,035
3.35

2, 023
1,807
3.29

2, 635
3, 034
3. 15

3, 064
4,797
3.08

4,275
7,166
3.10

3,132
7,542
3.17

3,263
6, 695
3.21

3,268
5, 573
3.35

2,978
5,764
3.47

3,202
4,213
3.68

59, 703
43, 533
171, 597
.123

36, 801
45, 085
161, 853
.125

40, 707
43, 619
139, 750
.131

30, 891
50, 888
110, 324
.131

41, 248
45, 991
62, 259
.132

52 553
46, 629
63, 138
.135

61, 403
46, 724
68, 623
.136

84, 708
56, 220
80. 294
.130

62 493
41,236
108, 296
.127

64 470
43, 583
136, 013
.128

64, 490
42, 102
135, 331
.133

59 172
43, 716
130, 393
'.146

63 428
45, 374
134, 970
p. 156

19,525
17, 549

20, 031
12,912

21,012
10, 200

22, 119
10, 775

21, 347
10, 541

19, 891
7,201

18, 712
20, 117

25, 388
74, 133

25, 394
88 365

1 371, 276
23, 869
81, 784

24, 445
73, 783

24, 528
70 861

25. 365
67, 366

210, 643
219, 803
219, 097

218, 083
199, 755
194, 676

229, 163
217,411
211, 230

243, 635
224, 826
216, 075

235, 756
182 704
166, 083

219. 494
213 451
190,072

206, 411
202, 604
210, 645

279, 908
240, 688
220, 896

277, 042
232 664
215,687

261,550
232, 155
234, 323

270, 046
239, 846
238, 205

271, 253
249 371
249, 526

281. 442
251,048
250, 241

107, 732
68, 183
.187

104, 438
66,197
.186

94, 695
64, 702
.188

83, 164
67, 247
.191

119, 559
67 093
.185

113. 578
78, 623
.181

109, 178
70, 699
.171

109, 695
77,514
.174

135, 084
82 310
. 175

138, 232
79, 686
. 173

137, 246
81, 682
.182

128, 177
81 159
. 196

132, 552
80,018
p. 215

125 781
28, 390

104 407
26, 428

112 £69
23, 484

105, 024
25, 580

79 699
24 252

91 592
20 632

113 923
22, 206

124, 428
25, 881

116 447
22 835

115 218
23 703

133 853
22, 611

135 905
25 924

127 166
26,317

.273

.273

.273

.273

.273

.273

.273

.273

.273

.273

.273

.273

P. 293

187, 778
150, 179

159, 921
158, 191

182,210
145, 034

188,782
154, 234

121 993
138,949

151 447
149,813

158,370
140, 726

180, 783
136, 658

161 917
137,012

141 387
142, 961

150, 136
125, 447

183 015
120, 587

170, 845
120, 101

133,311
54, 072
79, 239

135, 089
53, 096
81, 993

143, 397
54, 443
88, 954

149, 721
56, 336
93, 385

124 563
47 208
77, 355

137 609
55, 309
82, 300

133,267
52, 198
81, 069

125, 214
54, 792
70, 422

118 993
53, 223
65, 770

101 241
46, 000
55, 241

129 261
52, 522
76, 739

122 361
50, 770
71,591

131 518
f 6, 329
75, 189

4, 281
7, 422

3,265
7,574

3,247
7,758

3,903
7,723

2. 283
6 271

3,390
7,681

4,012
8,728

3,880
8,374

3,495
8 394

4,041
7, 705

3,508
6,492

3,445
7,178

483
744

41, 459
44, 185
24, 956
59, 767
38, 899
12, 126
42, 259

427
584

39, 448
41, 824
23,711
56, 773
38, 835
12,096
47, 846

403
561

415
333

39, 876
42, 550
22, 636
61,731
38, 444
11,820
48, 750

41, 994
42, 273
21, 231
56, 118
39, 136
11,665
47, 143

260
313

413
332

30, 288
35, 749
17, 110
54, 628
31, 979
12, 303
44,395

39, 087
41, 144
22,416
57, 022
35, 886
10, 767
47, 884

396
430

42, 221
50, 304
24, 280
60, 968
36, 700
12, 148
52, 722

415
385

451
643

428
433

519
450

497
501

44,619
48, 460
26, 498
62, 159
35, 480
12, 628
55, 953

44, 665
48, 272
25 197
62, 200
34 464
11,083
57,917

43, 044
43 407
47, 434
47, 002
26 411
24, 206
61, 285 »• 66, 890
r
35, 689
32, 409
10. 617
10, 823
58 247 ' 62, 352

42 799
40, 401
26 507
61, 607
32. 392
12, 054
59, 680

ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial) , total

mil of kw -hr

51, 153
44, 449
34, 051
10, 399

48, 376
42, 035
31,567
10, 468

49, 939
43, 354
33, 539
9,815

50, 725
44, 234
34, 525
9,709

52, 924
46, 625
37, 275
9,350

55, 917
49, 353
39, 821
9,532

52, 907
46, 335
38, 168
8,167

54, 206
47, 367
38, 601
8,766

54, 513
47, 751
38, 543
9,208

57, 571
50, 715
41,408
9,307

58, 092
51, 120
41, 764
9,356

54, 630
47, 988
37, 362
10, 626

57, 404
50, 344
38, 565
11,779

36., 248
8, 201

34, 257
7,778

35, 326
8,028

36, 012
8,222

37, 848
8,777

40, 179
9, 175

37, 595
8,740

38, 759
8,608

39, 100
8,651

41, 477
9,238

41, 769
9, 351

38, 671
9,316

40, 509
9,835

6,703
6,375
329

6,341
6,017
324

6, 585
6,277
308

6, 490
6,204
286

6,299
6, 052
247

6, 563
6,309
254

6,572
6,365
207

6, 839
6, 608
231

6, 762
6, 524
237

6,856
6. 632
224

6, 972
6,741
231

6, 642
6, 368
274

7,060
6, 757
303

38, 283

38, 140

38, 127

38, 850

39, 557

41, 957

42, 122

41, 829

41, 688

43, 654

44, 752

6,269
19, 253

6,225
19, 496

6,240
20, 248

6,586
20, 778

7,061
20, 551

7,497
21,895

7,476
21, 982

7,026
22, 512

6,738
22, 364

6,945
22, 702

7,054
22 680

- do do
do
do
do
- do -

416
10, 375
719
371
830
51

374
9,917
928
334
817
50

365
9,208
879
314
822
49

370
8, 975
958
296
837
52

335
9, 262
1, 160
305
833
49

352
9,706
1, 266
330
860
52

354
9,812
1,213
356
876
54

356
9,672
954
396
862
51

391
10, 073
770
422
883
47

433
11, 495
699
452
876
50

427
12,529
683
455
877
48

Revenue from sales to ultimate customers (Edison
Electric Institute)
thous of dol

651, 058

644, 841

639, 059

647, 704

661, 284

690, 352

695, 804

684, 701

681, 561

712, 806

734, 354

Electric utilities total
By fuels
By water power

_

do
do _ _
do

Privately and municipally owned utilities _ _ d o
Other producers (publicly owned)
do
Industrial establishments total
By fuels
By water power

do
do
do

Sales to ultimate customers, total (Edison Electric Institute)
mil. of kw -hr
Commercial and industrial:
Small light and power
do
Large light and power
do
Railways and railroads
Residential or domestic
Rural (distinct rural rates)
Street and highway lighting
Other public authorities
Interdepartmental

r

-

1
Revised.
*> Preliminary.
December 1 estim ate of 195£ crop.
* Revisions for January-July 1954 will be shown late3r.
c? Beginning January 1955, data exclude quantities tield by c<3nsuming factories.




3.77

SURVEY OF CURRENT BUSINESS

.lay 1956
Jnless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

S-27

1955

March

April

May

June

July

1956

August

Septem- October Novem- December
ber
ber

January

February

March

April

ELECTRIC POWER AND GAS—Continued
GAS

Manufactured and mixed gas (quarterly):^
Customers end of quarter, total
thousands
Residential (incl. house-heating)
do___
Industrial and commercial
do
Sales to consumers, total
mil. of therms.
Residential (incl house-heating)
do
Industrial and commercial
do
Revenue from sales to consumers, total thous. of doL _
Residential (incl. house-heating)
do_ .
Industrial a n d commercial _ _ _ _ . - _ . d o _..
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 ofdol
Residential (incl house-heating)
do
Industrial and commercial
do

5,510
5,097
409
1,210
879
323
155, 784
118, 446
36, 572

5, 361
4,961
398
827
516
302
110, 431
79, 476
30, 325

5 173
4,793
378
546
274
264
75, 929
50, 946
53, 422

5 055
4,688
364
884
581
292
117, 622
86, 431
30, 534

22, 498
20, 672
1,799
19, 565
8,715
10, 159
1,021,488
658, 033
344, 245

22, 641
20, 870
1,744
14, 221
3,931
9,602
648 215
342, 971
287, 646

22, 973
21,212
1,734
12, 044
1 741
9 590
478 745
194 055
267, 158

23 847
21, 920
1 899
16, 391
5 510
10 164
814 618
463 809
331 590

FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Beer:
7,899
Production^
thous. of bbl
6,902
Taxable withdrawals
_
do_ _
10, 193
Stocks end of month J
do
Distilled spirits:
15, 622
Production!
- thous. of tax gal
Consumption, apparent, for beverage purposes
thous. of wine gal _ 15, 768
13, 407
Tax-paid withdrawals*
thous. of tax gal
842, 566
Stocks end of month!
do
1,802
Imports
thous. of proof gal
Whisky:
10, 726
Production!
thous of tax gal
7,027
Tax-paid withdrawals !
do
Stocks, end of month!- - - do _ 710, 970
1,613
Imports
-thous. of proof gal
Rectified spirits and wines, production, total 9 t
7,171
thous. of proof gal__
6,445
Whisky!
- do. _
Wines and distilling materials:
Effervescent whines:
160
Production!
thous. of wine gal
112
Taxable withdrawals!
_ _ _ _ _ do_ _
1,333
Stocks end of month f
do
33
Imports
_ do
Still wines:
1,937
Production!
do
Taxable withdrawals §!
- -- -- do. -- 13, 194
160, 299
Stocks end of month §!
do
555
Imports
do-3,204
Distilling materials produced at wineries!
do

8,284
7,187
10, 815

8,968
7, 998
11,278

9,394
8,460
11 627

8 913
8, 608
11 380

13, 421

9 210
9 025
11 000

7 252
7 405
10 380

6 432
6 248
10 166

5 775
6 129
9 427

6 169
6 296
8 896
23 033

6 406
5 625
9 291

6 629
5 803
9 734

14, 962

13, 155

9,391

11,379

19 388

34 917

31 189

17 458

16 888

19 181

15, 505
11,422
844, 138
1,783

16,130
10, 825
844 320
1,734

16,915
14, 217
13, 77410, 951
841 496 838 800
1,983
1,596

15,673
11,369
836 110
1,591

16,906
13 613
834 529
2 253

18. 507
17 083
832 581
2 525

20, 856
16 731
833 201
3 620

23
10
840
2

847
486
6^8
504

13 371
9 279
846 °86
1 521

14, 616
11 523
847 965
1 762

13 528
850 415

10 122
5, 361
713, 985
1,620

9 073
5,181
716, 078
1,560

8 915
6 567
715, 861
1,816

5 550
4 526
715, 550
1, 484

8 142
5, 267
716, 304
1,421

11 189
7 226
717, 568
2,031

12 863
9 216
717, 991
2 310

13 538
8 978
719, 656
3 282

12
5
724
2

716
671
706
253

10 689
4 gqg
728,418
1 346

10 614
6 130
729, 962
1 562

12 268
7 051
731, 805

6,340
5,718

5,657
4,909

7,783
6,810

5, 992
5, 315

5,310
4, 237

7,382
6 383

10 156
9 013

9, 930
8 761

5 800
4 906

4 799
3 918

6 223
5 476

6 921
6 015

212
108
1,420
42

178
111
1,473
51

266
137
1,401
51

70
78
1,567
33

175
114
1,613
36

102
132
1 570
54

106
191
1 458
79

160
247
1 346
132

200
279
1 257
116

139
131
1 946
46

286
96
1 419
34

184
136
1 453

1,322
10, 982
150 398
539
2,325

] 281
10,174
140 895
526
648

1 267
10, 842
128 475
513
606

728
8, 929
122 153
417
900

1,487
9,926
112, 250
393
5, 633

19 571
11 120
120 826
452
52, 431

72 474
13 347
184 Oil
618
145, 546

43 340
13 369
214 698
889
93, 598

10 105
12 867
207 560
756
27, 478

3 196
lo' 894
197 964
563
6,602

1 856
1 994
12? 816
11 286
175 668
186 738
' 524
741
2, 185

120, 775
311, 462
.579

129. 375
293, 203
.579

158, 535
308,154
.579

153, 080
334, 501
.578

124, 895
352, 139
.578

102, 465
327, 617
.582

91, 585
295, 043
.580

94, 070
256, 626
.586

91 040
202, 204
.584

104 555
163, 136
.588

113 260
131, 664
.580

111 6PO
97, 907
.581

110,480
79, 685
493, 433
462, 949
r
5, 120

126,175
95, 890
501, 0?0
467, 671
4, 195

162,970
129,475
527, 739
493, 909
3,708

157,900
126 330
581, 168
542 609
3,453

129,225
100 715
597. £85
561 482
2,530

113,990
85 340
596, 891
562 419
3, 567

99, 595
70 795
5!'2 241
559 448
3, 174

91, 200
63 070
566 481
5'S6 355
5 508

84
56
531
505
6

93
61
518
492
5

190
380
885
124
795

97, 030
65 250
496 746
46'-) 336
3 294

97, 485
66 345
464 397
438 209
3 488

.370

370

.368

.368

.368

389

378

379

378

375

369

369

2, 950
230, 100

2, 125
255, 750

1, 700
325, 750

2, 140
304 500

3,000
257 800

3 010
227 500

2 540
184 500

3 925
164 500

3 875
142 200

4 025
152 800

3 150
164 200

4 285
171 500

3 410
209 900

3,895
97, 576

5, 783
135, 214

5,523
261, 402

5, 570
357, 514

6, 457
412, 888

7, 171
448, 405

5 482
427, 570

7 397
384' 261

7 556
274' 432

4 752
213' 202

6 222
157 914

8 133
8 230
lio' 578 111' 613

0
18, 061

38
16,612

81
9,866

200
10, 205

717
12, 419

1, 513
9,745

436
12.346

1 433
10, 407

1 512
17, 445

2 009
12' 243

16, 273

DAIRY PRODUCTS
Butter, creamery:
Production (factory) !_-- _ _
thous. of lb__
Stocks, cold storage, end of month
__do
Price, wholesale, 92-score (New York) _ _ -dol. per lb__
Cheese:
Production (factory), total t
- -thous. of Ib
American, whole milk J
- do
Stocks, cold storage, end of month, total__
. do _ _
American, whole milk
do
Imports
- -__
...do _
Price, wholesale, American, single daisies (Chicago)
dol. per Ib
Condensed and evaporated milk:
Production, case goods: t
Condensed (sweetened) _ __
thous. of Ib
Evaporated (unsweetened)
do
Stocks, manufacturers', case goods, end of month:
Condensed (sweetened) - _ _.
thous. of Ib
Evaporated (unsweetened)
do _ _
Exports:
Condensed (sweetened)
do
Evaporated (unsweetened)
do _
Price, wholesale, U . S . average:
Evaporated (unsweetened)
dol. per case-Fluid milkProduction +
mil. of Ib
Utilization in mfd. dairy products
_ __ . d o
Price, wholesale, U. S. average*-dol. per 100 l b _ _
Dry milk:
Production: !
Dry whole milk
thous. of lb._
Nonfat dry milk solids (human food),
do._
Stocks, manufacturers', end of month:
Drv whole milk
„
. _ __ do Nonfat dry milk solids (human food). .. _ do - Exports:
Dry whole milk,.
__ _
- do __
Nonfat dry milk solids (human food)
do
Price, wholesale, nonfat dry milk solids (human
food), U. S. average
dol. perlb._

. 368

970
100
094
435
890

r 8^4

r

!27 430
87, 864
.580
116
81
456
430

.587

685
735
657
320
372

714
16,816

5.57

5.57

5.57

5.57

5.57

5. 57

5.57

5.57

5 64

5 71

5 71

5 69

5 68

10, 486
4, 095
3.92

11, 156
4,485
3.74

12, 844
5,591
3.62

12 520
5,415
3.63

11 453
4 449
3.80

10 515
3,775
3.98

9 434
3 322
4.17

9 222
3 244
4.36

8 668
3 075
4.43

9 i5g
3 '453
4.36

9 604
3 679
4.24

9 582
3 gso
r
4. 14

11 094
4 282
r
3. 98

8, 650
132, 000

9, 100
152, 800

10, 650
197, 800

10, 325
181, 300

8.070
127, 500

7,400
98 600

8,900
89 100

8,300
88 200

8,925
87 500

8, 750
113 700

7, 150
124 900

8, 700
127 050

9,700
152 000

7,678
65, 563

7,477
88, 341

9, 067
129, 676

10, 773
150, 166

12 281
140, 651

11 875
16, 969

10 998
101 502

10 314
87 848

10 687
81 020

8 587
80 763

8 883
83 883

8 914
81 719

8 304
91 928

3,830
35, 616

4,626
22, 455

3,196
2,060

3,111
33, 476

3,901
17, 066

4,588
17 371

2 871
17, 859

3 988
19, 348

3 244
26, 148

5 938
4,701

2 015
22^ 925

4 710
26, 720

3.84

.153
.153
.152
.153
.153
.154
.155
.154
.154
.154
.154
.154
.154
Revised.
cf Revisions for 1953 and for the 1st and 2d quarters of 1954 are available upon request. Totals include data not shown separately.
^Revisions for the indicated items and for the periods specified are available upon request as follows: Alcoholic beverages, July-November 1954; dairy products—gutter, cheese (total and
American), evaporated milk, and nonfat dry milk solids, January 1953-August 1954; condensed milk and dry whole milk, January-August 1954; fluid milk, production, January 1951-December
1954.
9 Data beginning July 1955 exclude production of wines and vermouth; for July 1954-June 1955, such production totaled 70,000 gallons.
§Data include vermouth and aperitif wines other than vermouth.
*New series, representing average price received by farmers for all milk sold at wholesale to plants and dealers; data prior to January 1955 will be shown later.

r



SUEVEY OF CURRENT BUSINESS

S-28
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

Mav

19 55

March

April

June

May

July

19." 6

August

Septem- October Novem- December
ber
ber

January

February

March

"Apri

FOODSTUFFS AND TOBACCO—Continued
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
thous ofbu
Shipments, carlot__
no. of carloads..
Stocks, cold storage, end of month
thous. of b u _ _

1,860
1,677

810
376

362
212

234
233

539
9,121

3, 466
34, 379

2, 935
34, 854

i 105 293
2,783
27, 321

2,342
20, 618

2,511
13, 931

9,503
9,304
9, 731
Citrus fruits, carlot shipments^
no. of carloads..
Frozen fruits, juices, and vegetables:
Stocks, cold storage, end of month:
268, 216 222, 407 208, 365
Fruits
thous of Ib
-388,874 ••444,280 '506,638
Fruit juices
- do
456, 995 426, 679 396, 454
Vegetables
do
Potatoes, white:
Production (crop estimate)
thous of bu
20, 865
18,502
Shipments, carlot
no. of carloads-- 22, 498
Price, wholesale, IT. S. No. 1 (New York)
3. 750
7. 167
6. 508
dol. per lOOlb...

9,965

8,223

6,308

4,696

4,467

4 742

10 887

8 398

8 907

250, 582
492, 970
418, 876

391,944
417, 332
482. 910

440, 672
362, 434
605, 154

470,439
325,288
672 574

458 921
287, 547
692 821

444 087
245 393
663 160

420 092
249 910
624 049

389 245
321 536
558 178

341 964
398 941
495 546

995 27d
390 414
448* 285

24, 758

10, 035

9, 463

11, 641

13, 585

14, 824

381 631
15,410

18, 558

18, 039

' 23, 446

4.131

2.563

3.269

3.033

3.217

3.206

2.881

4.175

r 4. 070

P 4. 795

41, 499

50, 338

47, 188

39, 899

35. 918

38, 968

44, 355

41, 829

38, 480

i 390,969
13, 975

2,498
7,793

2,187
4,114

1

r

2,92

11 436

T

3, 105
8 047

9 9-1

19,59

GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats, rye, wheat)- thous. of bu__

52, 872 ' 29, 320 29, 863

Barley:
Production (crop estimate) _
_ do
10,311
Receipts, principal markets.
_. do
Stocks, domestic, end of month:
21,184
Commercial
do
116, 721
On farms
-do
5,019
Exports, including malt
do . _
Prices, wholesale (Minneapolis):
1.439
No 2 malting
dol per bu
1.342
No. 3, straight
do
Corn:
Production (crop estimate)
mil. of bu
11,949
Grindings, wet process - - _.
thous. of bu
15, 530
Receipts, principal markets
do
Stocks, domestic, end of month:
56, 199
Commercial
do
1,425.7
On farms
mil of bu
11,434
Exports including meal
thous of bu
Prices, wholesale:
1.463
No. 3, yellow (Chicago)
dol. per bu_1.390
Weighted average, 5 markets, all grades
- do, _

7,140

9,112

18, 249

24, 067

26, 258

16, 156

14, 266

13, 836

19, 701

16, 954

31, 574

32, 696

28 168

26 149

Rye:
Production (crop estimate)
thous of bu
Receipts, principal markets
_do
Stocks, commercial, domestic, end of month.__do
Price, wholesale, No. 2 ( Minneapolis) ___dol. per bu._
Wheat:
Production (crop estimate), total
mil. of bu
Spring wheat
do
^Vinter wheat
do
Receipts principal markets
thous. of bu
Disappearance
do
Stocks, end of month:
Canada (Canadian wheat)
do
United States domestic, totalcf
mil of bu
Commercial
thous. of bu._
Interior mills, elevators, and warehouses
thous. of bu-_
Merchant mills
do
On farms
do
Exports, total, including
Wheat only

flour

__do_ _
_do

16,48
23 83

1 31.
1.19

3, 347

4,963

9,017

12, 168

9,570

5 050

4,661

4,549

1.443
1.342

1.421
1.291

1.412
1.290

1.279
1.180

1.271
1.171

1 240
1.127

1 258
1. 155

1 251
1.130

1 235
1. 116

1 239
1.099

1 235
1.056

1 275
1. 123

10, 621
13, 028

11,524
18, 433

11,912
19, 683

10, 938
17, 535

12, 541
30, 689

11,358
28, 1 85

12, 502
40 062

11 590
51 592

i 3, 185
11, 188
22 843

11 686
22 993

12, 036
23 305

1 1, 963
26 727

46, 385

41,315

27, 070

28, 050

65 517

76, 559

11, 768

8,088

11 292

10 855

70, 910
2 191 4
12 344

73 496

4,408

31, 710
310 8
11,352

38, 721

4,784

36, 805
948.9
5, 666

8 554

7 149

1.460
1.439

1.482
1.487

1. 473
1.483

1.472
1.490

1.305
1.323

1. 307
1.244

1.188
1.180

1.173
1 201

1.250
1. 269

1.245
1 268

1.259
1.285

6, 629

8,371

23, 146

22, 109

8,727

5,185

6 349

15,833
23, 085
38, 217
37, 581
2
249,213
1,246.086
~1,527~
3,274 ""2," 049 "~I,~612
2, 175
.708
.710
.578
.610
(3)

33, 297

27 283

"3,123
(3)

~2 838
.635

22, 693
7,241

136, 489
27, 053

66 097
24, 959

46 122
21, 970

24, 692

81, 284

r

2

1

14, 498

133. 373

142, 168
93, 542

133, 772
117, 056

89, 733
59,811

85, 952

67, 491

72, 047

47, 693

49, 203

17, 510

58, 409
133, 727

18, 276
115,091

10, 437
88, 903

15,054
65, 285

12, 660
71, 627

238, 219
120, 707

653.8
112, 005
.094

610.1
75,114
.105

599.2
123, 393
.113

495.9
76, 788
.113

389.4
137, 272
.113

206
8,779
1.322

282
8,498
1.246

291
6,679
1.233

858
6,496
1.142

2,877
8,673
1.042

24, 105

38, 436

332, 021 324, 164
' 1, 235. 1
351, 913 351, 749

364, 462

45, 199 101, 574
' 215, 993

323, 669
2

348, 489
8
1,021.6
380,409

23, 349
43, 754

19, 315
14, 190

18, 959
14, 801

f

26, 800
22,382

1.321
1.327

1. 45!
1.49'

5.432
r

24 760
588, 277

21 91C

2, 947 """ i~186~
.655
.668

.661

.685

69, 504
35, 426

59, 401
38, 185

57 841
30, 936

53, 420

101, 792

106, 170

100, 920

103, 365

61, 953
112 522

29, 721
108 851

40, 692
103 244

33, 313
114 555

360.6
42, 291
.093

661.6
150, 886
.089

1,097.0
153, 729
.089

1 127 8
128, 445
.093

1 054.0
70, 735
.093

956 6
32, 417
.091

875 5
48, 607
.089

p. 086

1,638
9,138
1.046

902
8,932
1.112

1,384
8,136
1.061

1,674
8,414
1.026

i 29, 187
1,553
8,369
1.156

6,731
1.160

820

440
5,280
1.216

552
4,296
1.222

28 577

26, 046

23, 929
256 832

57, 958

378, 766

372, 182
446, 093

36, 015
' 207, 128

31, 802

374, 487 366, 890
1, 753. 7
448, 678 440, 750

i 938. 2
i 232. 8
* 705. 4
24, 768 r 21, 007
213 684

363, 288
421, 248

594, 312
141 403
428, 541
27, 114
23, 376

84 20:

6,855
27 333

79 860
1 477 0

95, 868

427, 416

r

11,313
27 733

r

986, 179 1,032,421 241, 850
260, 028 185,179 121 168

22 399,298
60, 144
2
39, 130

'447,579
101,475
211, 592

1, 576
8,887

26 575
981, 205
2, 765
.694
1

119, 108
101,451

33, 202
28, 277

15, 721

r 21 747
115, 784

27 038
189 510
7,848

125, 049

27, 482
••237,213

8,913
24 980

28, 468
256, 013
8,400

Oats:
Production (crop estimate)
_ mil. o f b u
5,392
7,159
Receipts, principal markets^
thous. ofbu
Stocks, domestic, end of month:
17, 886
15,866
Commercial
do
551, 570
On farms
do
3, 061 """1,782
Exports, including oatmeal _ _ _ _ _ _ _
_ do
.771
.712
Price, wholesale, No. 3, white (Chicago) _dol. per bu__
Rice:
Production (crop estimate)
thous of bags 9
California:
Receipts domestic rough
thous of Ib
Shipments from mills, milled rice
do
Stocks, rough and cleaned (cleaned basis), end
of month
thous. of Ib
Southern States (Ark., La., Tenn., Tex.):
Receipts rough, at mills
do
Shipments from mills milled rice
do
Stocks, domestic, rough and cleaned (cleaned
basis), end of month
mil.oflb
Exports
thous. of Ib
Price wholesale, head, clean (N. O . ) _ _ _dol. per lb_

13 013
25 275

23, 527
2
43,724
5,369

24, 966
21, 227

17, 655
14, 614

r

364, 732 358 515
l 542 0
403, 181 390, 669

349, 280 339 863
1 287 6
381, 756 ' 366,412

••550,101
126 878
320 800
11, 422
7,153

19, 312
14, 534

20, 503
15, 984

708 9

4,080
1.241

357, 301

467, 785
102 515
218 850
24, 762
20, 830

24,949
21 374

Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
2.621
2.742
2.708
2.668
2. 734
2.478
2.505
2,513
2.487
dol. per bu-_
2.511
2.429
2.447
2. 475
2.481
2.531
2.160
2. 456
2.461
2.190
2.151
2.198
2.155
2.253
No. 2, hard winter (Kansas City)
do_ _.
2.207
2.216
2.242
2 285
2 333
2.204
2.278
1.945
1.948
1.968
1.923
2.205
2.035
No 2 red winter (St Louis)
do
2.043
2.153
2.225
2 156
2 206
2 327
2.666
2.263
2. 603
2.593
2.428
2.397
2.445
2.478
2.461
2.445
Weighted avg.. 6 markets, all grades
do
2.388
2.407
2.423
2. 445
r
l
Revised.
*> Preliminary.
December 1 estimate of 1955 crop.
2
3
Old crop only; new grain not reported until beginning of new crop year (July for barley, oat?, and wheat; October for corn).
No quotation.
9 Bags of 100 Ib.
cfThe 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 breakdown of stocks.




SUEVEY OF CURRENT BUSINESS

May 1956

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
March
BUSINESS STATISTICS

S-29
1956

1955
April

May

June

July

August

Septem- October Novem- December
ber
ber

January

February

March

April

FOODSTUFFS AND TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Continued
Wheat flour:
Production:
Flour
thous. of sacks (100 lb.)__ 19, 884
81.1
Operations percent of capacity
Offal
short tons.. 394, 156

17, 428
78.1
347, 874

17, 523
78.4
349, 892

18, 470
78.8
371, 280

17, 612
82.6
356, 099

18, 615
76.0
371, 633

19, 174
85.7
377, 855

21, 000
93.8
411, 194

19, 758
88 3
384, 694

19, 317
86 3
376, 700

19, 490
87 1
379, 505

17, 861
79 5
347, 255

19 224
81 7
369 252

46, 104

40, 443

40, 691

42, 944

41, 063

43, 239

44, 301

48, 369

45 489

44 462

44 818

41 055

44 046

1,604

1,605

4,632
1,305

1,832

2,050

5 078
1,940

1 688

1,534

6. 755
6.030

6.150
5.775

6.225
5.625

6.275
5.775

6 165
5 625

6 075
5 760

6 180
5 625

Grindings of wheat
thous of bu
Stocks held by mills, end of quarter
thous of sacks (100 Ib.)
Exports
-- _-do
Prices, wholesale:
Spring, short patents (Minneapolis)
dol per sack (100 Ib.)
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 1001b._
Steers, stocker and feeder (Kansas City)
do
Calves, vealers (Chicago)
- do_
Hogs:
Slaughter (federally inspected)
thous. of animalsReceipts principal markets
do
Prices:
Wholesale, average, all grades (Chicago,)
dol. per 100 lbHog-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

4,713
2,114

2,199

1,785

4,111
1,896

6.805
6.095

6.645
6.060

6.990
6.225

6. 800
6.030

660

596

588

1,452
2,040

1,560
2,277

1,641
2,122

1,524
1 956

169

1,797
2,596
°257

1,752
2,533
«529

1,693
3,058

1 662
2 674

1 617
2 091

24. 12
21.28
25.00

23.36
21.25
26.00

22.18
20.01
24.00

22.15
19.03
23.00

22.52
18.19
22.00

22.33
17.69
23.00

22.67
17. 97
24.00

21.95
18. 02
26.00

20 84
16.92
22 00

5,491
2,924

4,472
2,473

4,164
2,337

3,713
2,140

3,428
1,929

4,475
2,519

5,144
2,682

6,144
3,251

15.90

16.48

16.39

17.54

16.12

15.31

15.75

11.3

12.2

11.7

13.1

11.9

12.1

12.7

1,244
1,166

1,180
1,302

1,228
1,246

1,205
1,110

1,076
1,043

147

1,239
1,288
°259

1,524
2,086

212

120

272

156

236

113

611
149

96

550

646

710

728

700

633

5 172

' 6 220 *>6 110
5 600 v 5 770

602

586

647
1 566
1 905
'l96

1 697
2 354

1 484
1 870
' 183

20 30
15.89
24 00

20 01
17.13
28 00

18 85
17.04
28 00

18 89
17.44
v 24 50

6,857
4 099

7 324
4 056

6 705
3 908

5 922
3 262

6 327
3 294

14.30

12.01

10.38

11.08

12.03

12.63

12.7

11.2

9.2

9.4

10.2

10.2

1,344
1,625
« 545

1,248
1,797

1 162
1 273

1 155
1 091

1 163

1 216
1 087

947

513

734

247

420

161

249

1 329
1 248
' 160

994
121

19 87
17.81

14.60

10.8

139

22.75
20.97

21.50
19.83

23.00
0)

23.50
0)

21.12
0)

20.75
2 17. 60

19.75
17.83

19.50
18.18

18 62
17.88

18 25
16.68

19 00
16.96

20 00
18.60

20 12
2 18. 18

1,962

1,736

1,760

1,753

1,596

1,897

1,977

2,121

2 254

2 340

2 312

2 018

2 128

835
65
27

822
74
22

740
55
27

614
51
29

529
50
30

448
53
30

405
49
26

444
81
23

601
91
28

777
98
21

858
95
24

884
77
21

873

890, 867
154, 556
3,369
9,082

844, 205
143, 849
1,934
8,361

901, 574
130, 593
2,547
8,760

952, 637
117, 362
2,188
13, 197

878, 641 1,032,932 1,021,504
115, 238 120, 581 120,886
2,852
2,721
2,426
12, 244
14, 072
12, 070

999, 507
136, 278
3,100
9 428

961 519 1 ,034.824 909, 851
224 391 230 316 212 794
9 353
3*743
6 339
7 169
6 913
7 708

958, 896
202 692

20 75

0)

MEATS
Total meats:
Production (carcass weight, leaf lard out), inspected
slaughter
mil. of Ib
Stocks (excluding lard) , cold storage, end of month
mil. oflb-Exports (including lard)
do-_.
Im ports (excluding lard)
do
Beef and veal:
Production, inspected slaughter
thous. of lb__
Stocks cold storage end of month
do
Exports
do
Imports
do
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs) (New York)
dol. per lb__
Lamb and mutton:
Production, inspected slaughter
_ _ thous. of lb__
Stocks, cold storage, end of month
do
Pork (including lard), production, inspected slaughter
thous. of lb__
Pork (excluding lard):
Production, inspected slaughter
_do_ __
Stocks, cold storage, end of month
do
Exports
.
_do_ __
Imports
do
Prices, wholesale:
Hams, smoked, composite
__
dol. per lb__
Fresh loins, 8-12 Ib. average (New York)
do
Lard:
Production, inspected slaughter
thous. of lb_
Stocks, dry and cold storage, end of month
do. __
Exports
_
_
_do
Price, wholesale, refined (Chicago)
dol. per lb_

970,
176
2
12

324
613
349
150

.435

.417

.402

.398

.395

.405

.420

.396

.376

362

368

347

336

61, 429
9,089

56,802
9,677

57, 606
9,957

52, 892
8,851

47, 030
8,597

54, 343
8,737

58, 742
8,683

55, 245
9 569

52 853
9 884

53 849
10 630

64 032
10 566

56 948
10 060

59 290
10 042

1,009,567

834, 963

800, 728

747, 208

670, 129

809, 765

896, 472 1,065,839 1,230,521 1 324 890 1 212 803 1 051 5731 109 446

749, 899
543, 703
6,244
15, 043

618, 489
539, 434
6,344
11, 336

587, 211
477, 028
5,969
15, 484

549, 989
375, 741
5,491
14, 272

494, 676
297, 962
4,231
15, 526

605, 362
218, 624
3,642
13, 717

678, 528
179,182
4,461
11 633

805, 841
205. 197
6,441
11 513

908 359
306? 714
5 823
14 503

.479
.422

.506
.453

.525
.508

.540
.564

.534
.472

.539
.458

.501
.492

.456
.409

189, 884
137, 357
46, 056
.156

158, 080
140, 352
56, 492
.168

156, 320
144, 149
36, 591
.148

144, 297
133, 394
32, 365
.155

128, 545
117, 578
29, 519
.155

149, 419
97, 014
35, 672
.133

159, 349
75, Oil
30 545
.138

40, 666
127, 549

48, 999
107, 309

50, 411
97, 960

46, 646
101, 942

55, 937
119, 769

58, 494
161,947

766
816
358
703

883 358
481 602
8 386
14 290

.374

448
326

446
346

190, 120
74, 756
56 426
.153

235 332
98 426
66 532
.138

261 249
146 985
69 813

68, 413
258, 413

80,480
259, 687

74, 756
228, 378

454

967
420
6
11

125

772
517
7
11

981
991
653
541

r 459

365

240 907 203 189
183 615 r 209 930
3 g5 255
48 327

123

138

803 772
512 127

f>

486
.368

224 101
232 719

v 135

POULTRY AND EGGS

Poultry:
Receipts, 5 markets
thous. of lb__ 39, 349
Stocks, cold storage (frozen), end of month
do
162, 472
Price, wholesale, live fowls, heavy type, No. 1
(Chicago)
dol. per lb__
.280
Eggs:
Production, farmt
millions.5,735
Dried egg production
thous. of lb_.
2,357
Stocks, cold storage, end of month:
Shell..thous. of cases
479
Frozen
___thous. of Ib
83, 672
Price, wholesale, extras, large (Chicago)
dol. per doz__
.410

43, 725
47, 239
48, 423
214, 723 ' 188,351 154, 804

.240

.253

.245

.245

.215

.235

.233

.210

.235

.250

.240

p. 260

5,648
2,932

5,579
2,913

4,951
3,292

4,617
2,643

4,295
1,537

4,245
' 1, 281

4,631
1,136

4,677

4,976

5,161

5,152
1,459

5,770
2,612

1,183
125, 833

2,088
170, 933

2 292
193, 888

2 244
194, 706

1 680
179 920

1 140
155 365

127 847

333

111

101 395

74 354

50 525

42 473

59 004

.373

.346

.369

.370

.464

.514

.496

.501

.514

.447

.398

.406

76, 950

62, 435

65,623

47, 198

60,941

106, 860

106,842

115, 327

99, 362

90, 983

«- 92, 710

86, 181

18 462
.324

31 778
.293

804

739

489

660

299

306

312

MISCELLANEOUS FOOD PRODUCTS
Confectionery, manufacturers' sales
Cocoa or cacao beans:
Imports (incl. shells)
Price, wholesale, Accra (New York)

thous. of dol_. ' 84, 025
long tons__
dol. per lb.__

19, 264
14, 339
26,268
11, 656
21, 109
19, 726
16 335
14 738
21 336
.375
.400
.365
.370
.381
.318
.340
.333
!324
' Revised.
* Preliminary.
« For 8 States (South Dakota excluded).
1 No quotation
2 Average for 2 weeks.
3 Effective January 1956, includes exports of shortenings (chief weight animal fat); such exports averaged 98,000 pounds per month in 1955
tRevisions for 1950-54 will be shown later.




47,203

26 263
' ! 275

*. 265

.396

SURVEY OF CURRENT BUSINESS

S-30

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
March
BUSINESS STATISTICS

May 1956
1956

1955

April

May

June

July

August

January

Septem- October Novem-| December
ber
1
ber

February

March

1,978
1,307

1,201

April

FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS— Con.
Coffee:
923
Clearances from Brazil total
thous of bagscf
490
To United States
do _ _
517
Visible supply United States
do
1,473
Imports
do
Price, wholesale, Santos, No. 4 (New York)
.583
dol. per lb_.
Fish:
Stocks, cold storage, end of month
thous. of lb_- 127, 477
Sugar:
Cuban stocks, raw, end of month
thous. of Spanish tons_. r 4, 188
United States:
Deliveries and supply (raw basis) :
Production and receipts:
Production
_ __
short tons.. 55, 429
558, 851
Entries from off-shore
do
171, 995
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 tonsImports:
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§
dol. per51b__
Wholesale
.
dol. per Ib
Tea, imports .
_ _ _ _ _ _ _ thous. o f Ib
TOBACCO
Leaf:
Production (crop estimate)
mil. of lb__
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. of Ib
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. .

996
645
520
1,353

723
322
490
1,775

829
546

943
497
492

1,221

1,358

1,547

1,416

1,356

681
527

1,810
1,207

1,882
1,134

521

528

1,480

2,215

1,126

914
564

2,144

1,661

1,228

657
831

821
704

1.892

793

1,888

2,178

711
770

.575

.560

140, 878

127, 459

1,457

2,482

3,707

528, 238
164, 908
88, 590

30, 054
547, 340
115,080

21, 843
521, 462
149 339

608, 051
146 223

609 182
604 932
4 250

571,554
569, 169
2 385

675, 455 '619 401
£33, 079 ••613 522
42, 376
5 879

667, 774

1,717

1,918
1,003

1,881
9,721

265, 534
242 385
16 513
7 334
5 677

185, 267
177, 067
4,480

347, 346
238, 517
106, 024
36, 394
20,526

354, 420
261 945
92 452
44 627
33, 474

.580

.545

.585

.535

.550

.610

.568

.540

.530

122, 669

128, 899

139, 582

168, 310

184, 217

191, 504

190, 783

188, 953

175, 297

4,688

4,478

3,988

3,638

3,132

2,882

2,532

2,132

1,882

48, 992
630, 496
208, 785

37, 866
634, 000
234, 789

45, 901
476, 796
173, 424

35, 545
611, 799
212 814

47, 821
756, 514
298 793

119, 175
541, 149
240 626

521, 457
515 800
201 641

752, 375
449 748
168 780

711,171
706, 617
4,554

625, 097
619, 459
5,638

697, 094
681, 204
5,890

823, 025
820, 274
2,751

861 826
857, 594
4 232

884, 525
879, 436
5,089

798 299
793, 627
4 672

733 258
727 967
5 291

1,781

1,753

1,612

1,329

1,091

406

963
271

864
290

1,132

.535
r

163, 178

r

r

1, 861
11, 961

1,785

418

604

345, 916
256, 507
89, 406
68, 783
54, 288

303, 954
207,315
92, 960
46, 308
45, 905

250, 246
130, 787
116, 305
38, 816
38, 371

301, 645
164, 425
133, 580
40, 764
40, 552

342, 883
190 523
133 426
32 294
31, 235

368, 705
207, 764
155, 457
24, 751
22, 359

263, 483
189, 940
46, 256
40, 798
39, 271

.058

.059

.060

.060

.061

.060

.060

061

.059

.058

.059

.059

p. 060

.494
.084
15, 459

.495
.084
7,842

.495
.084
7,615

.496
.084
4,366

.496

.496
.084
8,633

.496
.084
8,695

497
085

.501

.499
v 085

9 341

.500
.085
9,381

499
085

8 047

.501
.085
6,718

401

613

084
7,490

606

261
231
30
14
12

645
389
252
303
546

909

698
416

085

1

4,819

4,404

4,700

376

368
3,845

4,194

5 175

335

4,233

2, 256

r

19
191

18
173

8,174

r
r

5 024

310

375

4 671

4 415

19
175

18
154

20
213

36, 867
9,594

18, 554
8,864

21, 935
9,390

25, 721
10, 831

49, 946
8,414

47, 848
9,698

85, 404
9,479

85 254
9,766

63 404
10, 383

44, 678
7,660

46, 228
10, 795

29 151
9,415

18, 618
7,253
7, 653
3,711

16, 636
6,455
6,832
3,349

17, 886
6,896
7,641
3,349

18, 110
7,363
7,140
3,606

12, 763
5,468
5,233
2 062

17, 934
7,233
7,024
3,678

17 388
6,967
7 054
3 366

17 395
6 880
7 256
3 260

16 179
6,627
6 304
3 249

13, 194
5,347
4,747
3 100

15, 567
6,509
5,704
3 354

15 021
6 227
5 499
3 295

2,672
33, 695
467, 522

2,399
28, 788
445, 701

2,339
34, 498
516,022

2,723
35, 648
510, 219

2,369
28 561
414, 250

2,232
36 760
535, 596

2 937
32 076
533' 707

2 449
32 937
551 082

2 416
32 644
613 199

2,570
27 357
432, 028

2 091
32 871
453, 272

2 132
30 733
463 104

18, 242
1,243

16, 320
1,208

17, 308
1,169

17, 555
1 , 275

13 021
1,468

17 518
1,080

16 624
1,280

16 807
1,402

16 909
1,226

13 115
1,219

15 298
1,146

14 721

3.938

3.938

3.938

3.938

3.938

3.938

3.938

3.938

3.938

3.938

3.938

3.938

7 281

11 541

9 640

8 357

12 088

13 147

2,313
2,197

1 964

578

2 172
2 298

2 412

2 904

529

2 749
1 326

2 674
2 306

.475
.138

.475
.148

.500

.500

.500

.500

960

*>3 938

LEATHER AND PRODUCTS
HIDES AND SKINS
Imports, total hides and skins 9
_- 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. per lb_.
Hides, steer, heavy, native, over 53 Ib
. . . do

83
43
2,422
4,379

8,336
101
9
2,453
1,079

14, 952

3,216
2,575

2,158
2,712

159
23
2,277
2,776

.400
.105

.490
.118

.425
.108

,400
.120

.450
.135

16, 826

105
30

13, 309

130
19

12, 581

11, 698

129
41

91
15

292
18

148

81
28

890
133

61
9

133

237
19

103

LEATHER
Production:
r
882
891
Calf and whole kip
thous. of skins _
1,019
863
606
871
836
807
827
890
824
Cattle hide and side k i p _ _ _ thous. of hides and kips._
2,219
1,664
2,148
2,169
2,209
2,325
2,254 r 2, 181
2,236
»•
2,157
2,201
2,433
2,186
2,394
1,994
2,227
Goat and kid_._
-.thous. of skins _.
1,823
2,208
2,238
2, 251
1,996
2,182
Sheep and lamb.
__ _ _ do
2,266
2,144
2,143
2,243
1,574
2,498
2 329
2 288
2 212
2 074
2 163
Exports:
Sole leather:
102
71
85
Bends, backs, and sides
thous. of lb__
99
39
67
64
57
47
121
(2)
Offal, including welting and belting offal., -do
85
73
33
72
88
19
12
77
65 2 (')
30
4,029
Upper leather
thous. of sq. ft._
2,826
2,839
3,989
3,334
3,407
3,009
3,099
3,576
3,429
2, 565
Prices, wholesale:
Sole, bends, light, f. o. b. tannery
...dol. per lb._
.600
.595
.605
.595
.603
.603
.600
.600
.605
.605
.610
Upper, chrome calf, B and C grades, f. o. b. tannery
dol. per sq. ft_.
.910
.930
.950
.920
.942
.987
.998
.987
1.022
1.022
1.013
r
Revised.
» Preliminary.
1 December 1 estimate of 1955 crop.
2
Effective January 1956, data for sole leather are not separately available; those for upper leather exclude small quantities now combined with other types,
cf Bags of 132 Ib.
§Data represent price for New York and Northeastern New Jersey.
9 Includes data for types not shown separately.




88
15

.500

r HQ

P. 512
P 105

752
2,283
2 386
2 535

2,507

.610

P. 610

1.030

» 1.030

.565

4,257

SURVEY OF CURRENT BUSINESS

May 1956

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
March
BUSINESS STATISTICS

S-31
1956

1955

April

May

June

July

August

Septem- October Novem- December
ber

Janu-

Febru-

March

ary

ary

LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES
Shoes and slippers:
Production total
thous. of pairs
Shoes, sandals, and play shoes, except athletic,
total
thous. of pairs. By kinds:
Men's
do _
Youths' and boys'
do
Women's
- do __
Misses' and children's
do
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

55,813

47, 556

47, 160

49, 590

41,054

54,115

50, 610

48, 197

42, 921

45, 551

53,139

56, 230

55, 134

51,035

42, 921

41,992

43, 422

36, 037

46, 691

42, 767

40, 628

36. 162

40, 834

49, 668

51, 863

.50, 077

9,811
2,061
28, 259
7, 076

9, 110
1,644
23, 785
5, 248
3,134

8,916
1 726
23, 038
5 366

8,887

7,409

9,127
1 857
23, 622
5 223

9,246

7,905

8,711
1 586
21, 674
5 705
3, 158

9,681
1,841
27, 484
7,185
3, 477

10, 304
1 945

28,176

4,133

7, 245

4, 185

2,897
386
188
1

3,768
431
168
1

3,828
4,207
369
202
•509

369
133
336

1 961
23, 529
5 918
3, 127

1 688
20 290
4 609
2,041

9 316
1 997
26 246
6 074
3 058

4,689
352
127
262

5, 566

4 569

6 461

2,946

342
260
212

254
194
256

386
577
330

2,938

388
210
392

5 358
2 966

1 331
19, 142
5 060
2 724

7,068
375
126
368

6,274
370
115
335

1 586

21,472

388
144
319

7 722
3,716

208

10,018

1 915
27 731
6 663
3 750
4 482

438
137

358
119 g

110.0

110 0

110 0

110 0

110 0

110 0

110 0

112 8

116 8

116 8

116 8

116 8

P

116.8
112.3

116.8
112.3

116.8
112.3

116.8
112 3

116.8
112 3

116 8
112 3

116. 8
112 3

118. 1
117 4

118.1
117.4

118 1
117 4

118.1
117 4

118 1
117 4

p 118 1
p 117 4

LUMBER AND MANUFACTURES
LUMBER— ALL TYPES
National Lumber Manufacturers Association: |
Production, total
mil. bd. ft _
Hardwoods
do
Softwoods
do _

3,387
629
2,758

3,253
612
2,641

3,438
622
2,816

3, 598
635
2,963

3,042
577
2,465

3, 653
614
3,039

3,543
671
2,872

3 431
703
2 728

3.111
669
2,442

2,888
608
2,280

2, 933
627
2,305

2,915
625
2,289

3 084
601
2 483

3,481
658
2,823

3,466
697
2,769

3, 519
678
2,841

3, 754
688
3,066

3,235
641
2,594

3,670
703
2,967

3,471
712
2,759

3 360
755
2 605

3,076
716
2 360

2,778
672
2 106

2,904
676
2 227

2, 966
678
2,288

3,262
669
2 593

9,111
3,852
5,259

8,898
3,767
5,131

8,818
3,711
5,107

8,662
3,658
5, 004

8, 468
3 594
4,874

8,454
3 506
4,948

8,526
3 464
5, 062

8 597
3 411
5 186

8,618
3 364
5 254

8,729
3 300
5,429

8 746
3 251
5 495

8,684
3 198
5,486

8 511
3 131
5 380

M bd ft
_do

65, 670
292, 816

68 827
262, 014

86 397
314, 087

74 495
353 651

62 083
307 625

74 673
385 231

60 868
351 108

89 154
309 254

56 231
272 349

64 195
237 090

46 867
255 873

59 280
259 714

mil. bd ft.
do
_
do
do
_ do

906
791
908
925
1,016

961
868
803
884
935

829
849
830
848
918

911
826
853
934
837

752
819
648
759
725

719
762
850
776
800

655
676
815
742
873

603
606
740
672
942

649
583
709
672
968

741
710
678
614
1 032

772
746
769
738
1 066

739
746
751
739
1 068

Exports, total sawmill products
_ M bd. ft _ 31, 815
17, 636
Sawed timber^-do
Boards, planks, scantlings, etc
do__ - 14, 179
Prices, wholesale:
Dimension, No. 1 dried, 2" x 4", R. L.
dol. per M bd. ft_. 85. 071
Flooring, B and better, F. G., 1" x 4", R. L.
dol. per M bd. ft— 132. 178
Southern pine:
746
Orders, n e w
_ _ _ - _
_ _ _ mil. b d . ft__
Orders, unfilled, end of month
_
do
273
784
Production
do
776
Shipments
do _
Stocks, gross (mill and concentration yards), end of
month
_
_ mil. bd. ft
1,781
9,405
Exports, total sawmill products _ _ _ _ _ M bd. ft
Sawed timber
do
2,958
6,447
Boards, planks, scantlings, etc - - _ _ _. -do _ _
Prices, wholesale, composite:
Boards, No. 2 and better, 1" x 6", R. L.
dol. per M bd. ft_^ 77. 527
Flooring, B and better, F. G., 1" x 4", S. L.
dol. per M bd. ft__ 150. 996
Western pine:
Orders, new
_ _
. mil. bd. ft
696
Orders, unfilled, end of month
do
493
Production
do
633
680
Shipments
_ _ - . _ _ _ _ _
d o
Stocks, gross, mill, end of month _ _ _ _ _ do__ _
1,601
Price, wholesale, Ponderosa, boards, No. 3 common,
75.17
I"x8"
dol. per M bd. ft

42, 778
20 463
22, 315

40, 033
17, 644
22, 389

26, 233
15 715
10, 518

23, 356
11 826
11,530

30, 472
15 214
15, 258

21 503
11 861
9,642

30 233
17 247
12, 986

20 477
9 378
11,099

27, 160
13 512
13, 648

19 420

20 020

89. 180

89. 180 v 89 314

Shipments, total
__ - do
Hardwoods
do
Softwoods
- do
Stocks, gross (mill and concentration yards), end of
month, total. _
mil. bd. ft-_
Hardwoods
do
Softwoods
_
_ _ _ _ _ do
Exports total sawmill products
Imports total sawmill products
SOFTWOODS
Douglas fir:
Orders new
Orders unfilled end of month
Production
._
_
Shipments
Stocks, gross, mill, end of month __

(2)
(2)

868
798
768
816
1 020

85. 624

87. 115

87. 535

88. 074

89. 173

89. 320

89. 180

87. 962

88. 102

132. 178

132. 178

131. 867

131. 867

131. 867

132.194

132. 504

132. 504

134. 138

753
290
738
736

775
285
776
780

789
274
764
800

735
288
695
721

794
285
750
797

754
293
734
746

713
269
717
737

654
229
712
694

601
217
688
613

723
275
733
665

671
275
687
671

733
270
729
738

1,783
8,399
2,151
6,248

1,779
8,930
1,967
6, 963

1,743
7,398
2,265
5, 133

717
367
654
713

1 670
6,757
1,550
5, 207

1 658
6 222
1 772
4 450

1 638
6 674
1,915
4 759

1 656
5* 545
2 138
3 407

1 731
7' 213
1,971
5 242

1 799
6 123

1 815
6 958

1 806

81. 294

p84 099

1
7
1
5

134. 138 ' 134. 603 pl34 603

(2)
(2)

r

77. 256

77. 702

77. 174

77- 434

78. 922

80.155

80. 683

81. 474

80. 679

80. 588

1 50. 384

149. 426

149. 426

149. 426

151.263

151.018

149. 916

149. 916

149. 916

152.206

766
543
682
716
1,567

742
513
770
772
1, 565

860
514
880
859
1,586

747
511
760
750
1 596

850
453
959
909
1, 646

826
454
872
825
1 693

702
380
846
775
1 764

603
367
638
616
1 786

628
418
592
577
1 801

605
457
510
566
1 745

580
459
531
578
1 698

678
498
610
639
1 673

77.20

78.49

80 05

80 41

80 76

80 74

80 13

79 36

78 83

79 43

81 30

P 81 30

4,650
15, 125
3,750
4,000
10, 550

4,550
15, 300
3 650
4,450
9,800

5 250
15, 550
4 300
4 950
9,300

4 975
15, 600
3 950
4 600
8 600

5 550
15, 475
4 850
5 425
8 000

4 250
14, 350
4 100
4 775
7 525

3 450
12, 000
3 875
4 225
7 300

3 850
11, 750
3 900
3 900
7 200

4 300
12, 000
4 100
3? 800
7 500

4 350
12,150
4 100
3' 950
7 750

4 500
13, 050
3 650
3 650
7 800

5 650
15, 000
3 900
3' 700
8 000

do
111,554 108 916 98 351 103 623 98 538 105 632 99 084 87 858 78 741
do
108, 122 111, 682 104,696 100, 159 100, 226
99, 403
91, 074
85, 704
72, 123
do
106,193 100 543 105 896 111 772 99 328 109 306 105 238 102 070 102 317
do
107, 090 104, 160 105 337 111 732 100 294 108 070 105 810 100 684
95 049
do _ _ _ 50, 301
44, 633
44, 424
45, 400
44, 154
43, 188
44, 344
51, 612
42, 958
]
2
Beginning 1956, data exclude exports of infants' and children's shoes.
Data are no longer available.
the December 1955 SURVEY.

71 777
61, 168
93 665
82 732
62, 545

94 572
66, 728
96 899
91 007
68, 437

97 078
71, 450
93 743
89* 512
74, 077

105 106
80, 765
98 616
95 791
73! 249

152. 206 *155. 113

HARDWOOD FLOORING
Maple, beech, and birch:
Orders, new.
_ _
Orders, unfilled, end of month
Production _ _ __ .__ _.
Shipments
_ _
Stocks, mill, end of month
Oak:
Orders, new
_ __
Orders, unfilled, end of month
Production
__ _ _ __
Shipments
Stocks, mill, end of month
T
Revised.
» Preliminary.
JRcvisions for 1954 appear in

__
_

_




_ _ M bd. ft
do
do
__do _
_do

5, 500
14, 650
3,900
4,000
10, 775

April

SURVEY OF CURRENT BUSINESS

S-32
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

May 1951

1955
March

April

May

June

July

1956

August Septem- October
ber

Novem- December
ber

January

February

March

April

469, 751

446, 925

LUMBER AND MANUFACTURES—Continued
PLYWOOD
Hardwood (except container and packaging) :
Shipments (market) , quarterly total
211, 577
M sq ft surface measure
Inventories (for sale) end of quarter
do __ 31, 157
Softwood (Douglas fir only), production
M sq. ft., %" equivalent. _ 444, 081

220, 908
33, 847
412, 756

418, 950

416, 207

231. 969
31,917

217 719
32, 959

321, 111

414, 569

422, 532

427, 948

423, 235

413, 501

448, 127

443, 094

886, 375
510, 835
130, 420
13, 980

METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Iron and steel products (excl. advanced mfrs.) :
776, 906
Exports, totalcf
short tons
419,621
Scraped
do
109, 723
Imports totalo"
do
Scrap
do. _. 11, 524

759, 155
372, 374
116,948
13, 302

862, 262
495, 013
139, 166
9,836

865, 204
531, 174
132, 644
13, 041

826 773
448, 279
103, 978
11,777

688, 745
344, 075
184, 286
27, 120

790 381
422, 557
169, 872
25, 887

842 685
447, 506
172,396
17, 083

809, 491
440, 024
160, 518
15, 508

855, 043
435, 958
166, 442
15, 268

787, 942
416, 027
144, 769
16, 410

7,072
3,909
3,162
7,071
7,158

7,068
3,905
3,163
6,988
7,243

7,199
3,947
3, 252
7, 186
7,259

6,773
3.844
2,929
6, 852
7,184

6,048
3,457
2,591
6,101
7,132

6, 850
3,829
3,021
6,623
7,357

6,786
3,921
2, 865
6,788
7,355

7,248
4 002
3,245
7 217
7,385

7,213
3,969
3,244
7,214
7,385

7, 096
4, 034
3, 062
7,276
7,210

7,419
4,071
3,348
7,492
7,141

' 7, 135
r
3, 882
' 3, 253
r
7, 107
r
7, 168

3,227
1,835
10 109

6, 056
5,312
11, 366

11, 820
12, 621
10, 532

13, 704
14, 835
9,402

13, 034
14, 633
7,803

14, 160
15,117
6,846

13, 830
14, 544
6, 130

12 846
13, 696
5 279

7,266
9,268
3,277

3,502
2, 549
4,204

3,279
2, 183
5, 002

3, 269
2,081
7,262

0
7,481
23, 711
18, 616
5,095

3,758
7,290
18, 907
14, 545
4,362

11,606
7,798
21, 901
17, 465
4,436

12, 595
7,473
27, 361
22, 455
4,906

13, 334
7,273
33, 424
27, 940
5,485

13, 572
7,485
39, 506
33, 100
6, 405

12, 757
7,539
45, 406
38, 459
6,948

12, 244
7,850
49, 523
42, 167
7,356

7,410
7,488
51, 040
43, 718
7,323

184
7, 663
44, 359
37, 539
6,820

0
7, 953
36, 702
30, 283
6,419

0
7,440
29,173
23, 677
5,495

1,248
87

1,220
82

2,030
86

2,482
72

2,498
60

2,871
98

2,518
90

2, 857
75

2,237
64

1,474
134

1,465
73

1,484
81

934
1,315
689

966
1,294
680

938
1,310
707

982
1,296
716

1, 050
1, 070
579

1,160
1,226
688

1,151
1, 253
713

1,113
1,310
714

1,062
1, 306
697

1,075
1,260
664

1, 158
1, 250
677

99, 730
102, 364
60, 063

104, 091
101, 226
57, 397

106, 446
98, 397
57,317

107, 559
99, 456
60, 261

115, 420
75, 570
44,914

123, 473
82, 448
48, 126

116, 636
87, 215
55, 471

121,261
90, 866
53, 804

116,981
99, 280
58, 069

123, 107
99, 946
60, 409

6,464
6,531

6,385
6,412

6,805
6, 770

6,544
6, 468

6,391
6,082

6, 601
6,462

6,703
6,612

6, 965
6,937

6, 699
6,690

2,213

2,097

2,084

2,116

2,332

2,471

2,483

2,421

56. 03
56.00
56.50

56.03
56.00
56. 50

56.03
56.00
56.50

56.03
56.00
56.50

' 57. 84
58.50
59.00

58. 45
58. 50
59.00

58. 45
58.50
59.00

58. 45
58.50
59.00

120, 053
92, 237
16, 646

122, 465
92, 713
16, 810

133, 887
102, 457
19, 591

97, 875
71, 170
11,631

126, 406
96, 290
20, 576

140, 843
107, 622
23, 594

145,674
110 409
23, 745

474.5
149.6
113.5
36.2

488.0
147.0
109.4
37.7

501.6
155.5
117.0
38.4

513.3
115.0
82.7
32.3

547.0
134.8
99.9
34.9

552.4
148.8
110.1
38.6

9,815
95

10, 328
97

9,746
94

9,101
85

9,595
90

.0542

.0542

.0542

.0576

74.00
.0452

74.00
.0452

74. 00
.0452

78.50
.0487

38.50

34.50

34.50

2, 303
2, 125
104

2,342
1,990
106

2,123
2,062
107

309, 120
172, 794
136, 326
265, 456
1,516
29, 480

326 091
183, 251
142, 840
273, 505
1 389
27, 982

380, 630
223, 587
157, 043
329, 880
1,404
30, 691

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

Importscf
- -- do
Manganese ore imports (manganese content) cf do

P 7, 239
P 4, 080
» 3, 158
p 7, 522
» 6, 885

0
8,008
21, 283
17, 084
4,200

5,674

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:
Composite
dol per long ton
Basic (furnace)
do
Foundry No 2, Northern
do

Steel, Crude and Semimanufactures
Steel castings:
127, 460
Shipments total
short tons
98, 926
For sale total
do
19, 339
Railway specialties
do _
Steel forgings (for sale):
478.8
Orders unfilled
thous of short tons
154.4
Shipments, total
do
119.2
Drop and upset
do
35.2
Press and open hammer
do
Steel ingots and steel for castings:
9,982
Production
do
93
Percent o f capacity \
_ _ _ _ _
_
Prices, wholesale:
.0542
Composite, finished steel
dol. per lb._
Steel billets, rerolling, carbon, f. o. b. mill
74.00
dol. per short ton
.0452
Structural shapes (carbon), f. o. b. mill dol. per Ib _
Steel scrap, No. 1, heavy melting (Pittsburgh)
dol. per long ton__ 38.50

1,141
1,215
680

v 1, 254

116, 520
93, 562
54, 618

113,616
93, 533
54, 466

p 86, 941

6,954
6,867

7,050
7,028

6,603
6, 576

7,149
p 7, 066

2,361

2,289

2,253

>• 2, 212

p 2, 163

58.45
58.50
59.00

58.45
58.50
59.00

58.45
58.50
59.00

58 45
58. 50
59.00

58 59
p 58. 50
p 59. 00

152, 381
116, 908
25, 635

158, 982
122, 201
29, 003

158,618
123, 343
27, 954

559.7
158.0
120.0
38.0

584.7
158.1
119.7
38.4

592.4
158.1
120.1
38.0

588.6
160.1
124.7
35.5

599.2
151.7
118. 1
33.6

9,882
96

10 501
98

10, 247
99

10, 504
99

10, 828
99

10, 119
99

.0580

. 0580

.0582

.0582

.0581

. 0581

78.50
.0487

78.50
.0487

78.50
.0487

78.50
.0487

78.50
.0487

78.50
.0487

39.50

44.50

43.50

44.50

45.50

50.00

54.50

49.00

* 48. 50

2, 377
2,514
125

2, 317
2, 078
116

1,953
2,230
109

1,871
2,032
114

1,910
2,075
124

1,741
2,042
138

1,840
2,185
147

2, 377
1,940
117

2,146
1,983
69

2,278
2,251
61

398, 657
230, 803
167, 854
347, 362
1,532
33, 640

428, 106
266. 735
161,371
385, 917
1, 251
28, 319

565, 102
391, 817
173, 285
511, 667
1,544
31,251

511 388
355, 685
155, 703
443, 322
1,454
26, 662

501 431
343, 742
157. 689
445 325
1 505
26, 434

252, 658
150, 276
102, 382
212, 913
1, 413
26, 338

•

59.65

165, 398 p 170, 055
128, 598
30, 833

p 158. 9

r

10, 925
100

10, 547
100

.0581

.0581

.0581

78. 50
.0487

p 78. 50
p. 0487

Steel, Manufactured Products
Barrels and drums, steel, heavy types (for sale) :
Orders, unfilled end of month
thousands
Shipments
do
Stocks end of month
do
Cans, metal, shipments (in terms of steel consumed),
total for sale and own use
short tons
Food
do
Nonfood
do
Shipments for sale
do
Closures (for glass containers) production
millions
Crowns, production
thousand gross- _

270, 751 r 289, 577
r
156, 539 171, 309
114,212 '118,268
230, 631 r 243, 842
1 347
1 357
29, 405
24, 192

' 295, 970
••175,092
120, 878
r
250, 723
f 1 421
29, 328

338 536
193, 360
145, 176
288, 099
1 533
34, 369

'Revised.
p Preliminary.
cf Revisions for 1954 (units as above): Total iron and steel exports—July, 344,006; October, 438,807; November, 463,411; scrap exports—October, 189,34:
November, 233,771; total iron and steel imports—September, 147,557; October, 138,296; November, 153,293; iron ore imports—October, 1,751; manganese imports—April, 97.
{For 1956, percent of capacity is calculated on annual capacity as of January 1,1956, of 128,363,090 tons of steel; for 1955, data are based on capacity as of January 1, 1955 (125,828,310 tons).
NOTE FOR STEEL PRODUCTS, p. S-33.—Data for semifinished products comprise ingots, blooms, slabs, billets, etc., skelp, and wire rods (formerly included with wire and wii
products); rails and accessories include wheels and axles. Monthly data for 1950-54 and annual shipments beginning 1933 on the revised basis will be shown later.




SURVEY OF CURRENT BUSINESS

day 1956
Jnless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

&-33
1956

1955

March

April

May

June

July

August Septem- October Novem- December
ber
ber

January

February

March

7,468
416
479
641
202

8,256
447
525
707
238

April

METALS AND MANUFACTURES—Continued
IRON AND STEEI^-Continued
Steel, Manufactured Products— Continued
Iteel products, net shipments:§
Total (all grades) __
_ _ _thous. of short tons
Semifinished products
.
do
Structural shapes (heavy), steel piling
do
Plates
_
do .
Rails and accessories
do
Bars and tool steel, total . _ __
_ _ do
Bars: Hot rolled (incl. light shapes)
do
Reinforcing
do
Cold
finished..
do
Pipe and tubing ._ _
Wire and wire products
Tin mill products (incl. black plate)Sheets and strip (inol. electrical), total
Sheets- Hot rolled
Cold rolled (incl. enameling)

do _ _
do
_ do
do
do
__do _

7,269
428
436
543
207
1, 100
764
161
165

7,279
423
425
560
199

7,541

405
454
571
201

7,770
444
417
600
222

1,101

1,160

1,164

747
184
160

774
215
161

770
209
173

358
388
506
180
933
627
177
122

795
398
580
2,782
829

824
406
602
2,739
792

872
414
685
2,779
813

967
444
734
2,779
773

1,297

1,298

126, 394
29, 919

1,292

NONFERROUS METALS AND PRODUCTS*
Aluminum:
130, 272
Production, primary, domestic
short tons
33, 933
Estimated recovery from scrap®
do
Imports (general):
12, 753
Metal and alloys crude
do
1,546
Plates sheets, etc
do
.2320
Price, primary ingot, 99%-j~
- dol. per Ib
Aluminum shipments:
Mill products and pig and ingot (net) cf— mil. of lb_- >• 345. 7
' 232. 8
Mill products, totaled
do_
128.4
Plate and sheet
do
79.0
Castings
do
Copper:
Production:
93, 769
Mine, recoverable copper _
short tons
120,611
Refinery, primary
do
94, 260
From domestic ores
do .
26, 351
From foreign ores
do
19, 383
Secondary, recovered as refined
do
Imports (general):
45, 273
Refined, unref., scrap ©O
do
11,795
Refined
,
do
Exports:
25 673

17,811
Refined
do
137 361
Consumption refined (by mills etc )
do
Stocks, refined, end of month, total
do __ 117, 786
73 632
Fabricators'
do
.3294
Price, bars, electrolytic (N. Y.)
dol. per lb__
Copper-base mill and foundry products, shipments
(quarterly) :
677
Brass mill products total
mil oflb
392
Copper wire mill products ©
do
238
Brass and bronze foundry products
do
Lead:
Production:
31,315
Mine recoverable lead
short tons
38, 976
Secondary estimated recoverable ©
do
30, 214
Imports (general), ore© metalO
do
99, 000
Consumption fabricators' total
do
Stocks, end of month:
Producers', ore, base bullion, and in process ©
108, 513
(ABMS)
short tons
Consumers' total

do

62 398
112', 742
50 939
. 1500

7,054
399
411
543
155

7,378
414
459
619
171

7,217

7,248
435
470
639
146

7, 581

400
461
607
160

429
485
678
180

7,588
417
467
650
223

1, 081

1,092

739
186
158

1,197

717
197
158

824
283
417
2,362
703

885
355
618
2,606
777

873
361
676

1,312

1,120

1,198

131, 128
29, 491

127,634
30, 925

132, 669
23, 687

18, 409
1,065

20, 391
1,467

20, 174
2.126

.2320

.2320

.2320

324.3

342.4

' 226. 2
123. 3
73.0

' 232. 7
125.2
71.7

341.7
254. 1
136.4
68.5

89, 154

r

6, 251

1,128

1,215

1,189

1,165

1,284

814
202
171

758
194
165

834
194
176

818
182
178

809
174
171

877
217
178

884
339
363
2,843
834

885
332
390
2,988
887

879
353
555
2,855
844

872
364
553
2,777
800

952
395
798

768

877
361
367
2,787
788

1,262

1,312

1,318

1,395

1,310

1,271

133, 551
28, 923

130, 606
30, 681

134, 655
31 785

133, 689
32, 092

140, 748
32, 283

140, 394

132, 763

12, 957
1,172

17, 621
1,702

14, 416

12, 183
2, 216

10, 235

10, 247

12, 697
2,313

.2427

16, 796
2, 765

.2320
' 303. 8

344.5

343.1

«• 241. 8
134.5
67.1

248.8

353.2
245.5

113. 3
55.0

' 352. 9
' 248. 5
141.4
64.9

138.3
72.2

137.1
75.1

88, 575
135, 675
99, 349
36, 326
21, 073
58, 050
20, 682

r 209. 1

2,713

2,038
.2440

.2440

r

2,900
.2440

2,689
.2440

89, 392
117, 639
89, 444
28, 195
20, 015

33, 343
42, 566
21, 294
21, 272
12, 557

67, 235
78, 905
55, 824
23, 081
15, 201

90, 271
129, 791
97, 234
32, 557
21, 328

92, 192
127, 537
94, 218

26, 230
18, 858

90, 824
127, 124
96, 549
30, 575
18, 827

22, 665

91, 053
123, 095
94, 876
28, 219
22, 071

44, 027
15, 935

45, 340
10, 150

49, 368
14, 449

46, 581
12, 283

54, 753
27, 345

63, 739
23, 803

52, 154
20, 784

30 233

13 819
71 233
101, 860
67, 334

15 399
10, 521
90 493
122, 682
75 668
.3815

22 294
18, 615
126 772
153, 738
102 742

20 405
15, 831
151 490

19 340
16, 434
148 835
156, 801
112 897

356. 8
' 243. 6
' 138. 4
75.3

57, 131
20, 876

27 095
17, 950
133 130

r

111,348
85,118

71 940

135 513
121, 024
78 865

19 323
15, 702
141 044
112, 187
75, 158

.3570

.3570

.3570

112,229

21,910

9,544

.3570

.4405

33,319

151,238
106 185

.4303

2,910

853
1,327

.2440

.2440

.2458

355.5

347. 9
241.0
134. 1
73.1

391.0

251.8
142.0
74.2

279.8
156.0

94, 519

r 89, 182

98, 045

117,631

r 121,916

125,032

••91,071

97, 040
27, 992
25, 932

93, 252
24, 379

14,349
32 245
13, 508

30, 845
' 21, 827
48, 677

19 142 i jg 433 i 21 659
13,319
14, 728
13, 301
154 852 P 150 121 p 142.827 p 150 587
164, 192 p 139,812 v 142,697 p 148,231
114, 634 pQQ 555 p 104,772 v 102,781

.4296

.4348

2590

.4375

. 4459

.4673

666

521

669

688

401
258

345
234

417
268

.4616

p 276

428

526
629
950
800

r 27, 754
37, 894
31, 651
98, 000

31, 164

119, 733
r 29 515

117,168

117, 531
40 064

118, 230

31 034

47 049

57 637

54 699

28, 686
35, 007
33, 286
96, 100

28, 932
36, 876
48, 596
100, 400

28, 427
34, 765
32, 514
102, 900

25, 783
29, 836
32, 640
83, 800

26, 813
31, 147
40, 735
106, 600

26, 876
36, 290
40, 794
111 500

27, 564
40 980
38, 999
114, 700

25, 975
36 479
40 335
108 100

27, 802
26
38, 967 r 37
43
50, 238
104, 000 T 107

106, 023
52 804
112, 170
50 053
,1500

107, 257
48 988
124, 145
49 046
.1500

106, 409
42 843
123, 686
46 413
. 1500

103, 636
38 198
118, 583
45 771
.1500

125.644
32 767
116, 683
50 762
. 1500

122. 352
29 384
115, 104
53 412
. 1510

124, 811
24 146

110,247

116, 204
26 147
109^ 525
53 209
. 1550

52 872

"121,574 rr«129,133
a

r

.1600
.1600
.1600
. 1615
.1556
.1550
Price pig desilverized (N. Y.)
dol. per lb_
Tin:
1,147
1,943
1,935
1,986
1,842
2,036
2,582
2,705
1,106
2,003
2,298
2,092
Production pig total
long tons
Imports for consumption:
1,769
2,116
1,872
1,163
2,180
819
2,416
2,437
1,163
2,746
1,443
1,966
Ore 0
do
5,449
5,224
5,421
5 615
5,520
5 924
5, 454
5 298
5 975
6,026
3 918
Bars pigs etc
do
5 010
8 115
7 785
6 640
7 985
8 135
7 860
7 825
8 050
7 820
7 965
7 500
7 810
Consumption pig total
do
5,305
5,330
4,520
5,310
5,015
5,200
5,160
4 770
5,160
5,330
5, 250
Primary
do
5,010
9
4
48
57
84
91
177
185
70
20
46
71
Exports incl reexport5 (metal) O
do
18 384
19, 484
14 944
15,616
21 114
13 675
16, 362
16, 348
16 509
13 513
17 161
17 448
Stocks pig end of month total
do
17, 845
15, 580
15, 685
18, 300
13, 905
14, 550
18, 830
13, 644
16, 965
12, 835
17, 267
16, 115
Industry
do
.9917
1. 0053
1. 0057
.9364
.9683
.9104
.9139
.9137
.9787
1. 0776
1.0482
. 9646
.9626
.9609
Price, pig, Straits (N. Y.), prompt
dol. per l b _ _
Zinc:
41 019 r 42, 671
46 878
39 555
39 615
41 383
45 692
43 277
43 536
42 633
42 154
M^ine production recoverable zinc
short tons
41 167
44 605
Imports (general):
55, 729
44, 749
35, 191
49, 208
35, 802
41, 600
41, 262
34, 134
38, 949
57, 410
45, 944
42, 700
Ores and concentrates ©O
do
17, 238
14, 730
18,111
18, 651
16, 538
22, 031
13, 257
15, 696
17, 967
13, 048
13. 166
20, 627
Metal (slab blocks) O
do
Slab zinc:
Production (primary smelter), from domestic and
80, 987
84, 988
80, 602
82, 460
83, 395
78, 399
85, 601
78, 917
78, 836
77, 087
79, 001
81, 173
foreign ores
short tons
5,342
5,325
5 483
7 014
6 977
6 361
6 989
5 784
5 457
6 038
5 387
5 004
Secondary (redistilled) production total
do
89, 762
91, 849
96, 406
97 255
92 739
70, 589
97, 940
91 312
94 913
98, 275
87, 687
Consumption fabricators' total
do
96 388
671
1,103
151
684
756
973
589
760
2,618
413
3,053
1,550
Exports
do
Stocks, end of month:
47,907
39, 833
40, 038
46, 084
42, 167
51, 290
43, 868
90, 837
74, 579
63, 184
38, 058
48, 603
40, 979 r 41, 330
Producers', smelter (AZI)
do
120,340 122,514 125, 152
102 438 103 304 104 003 106 983 114,115 120 943 120, 262 115,681 117, 752
Consumers'
do
.1350
.1350
.1350
.1250
. 1250
.1293
.1300
.1300
Price, prime Western (St. Louis)
dol. per l b _ _
. 1150
.1300
.1223
.1343
.1193
.1200
Zinc oxide (zinc content of ore consumed)
7,062
7,175
8.909
8. 304
6.774
6.725
8, 065
9,469
6.237
8.140
short tons __
6.563
7.021
r
Revised.
v Preliminary.
§ Beginning with the March 1956 SURVEY, data reflect regrouping of certain products. For changes not self-explanatory, see note at bottom of p. S-32.
©Basic metal content.
i Data beginning January 1956 exclude exports of brass and bronze ingots; such exports averaged 68 tons per month in 1955.
*New (or substituted) series in most cases. All series (except as noted) are compiled by the U. S. Department of Interior, Bureau of Mines; data prior to August 1954 for new series will be
shown later. General imports comprise imports for immediate consumption plus material entering the country under bond. Aluminum—prices of aluminum ingot are as quoted by the
American Metal Market; shipments of mill products plus pig and ingot are compiled jointly by the U". S. Department of Commerce, BDSA and Bureau of the Census. Copper—exports, consumption, and stocks of copper and shipments of mill and foundry products are compiled by BDSA. Lead—producers' stocks of lead ore and bullion are compiled by the American Bureau of Metal
Statistics; stocks of scrap lead are in gross weight. Tin—total stocks include Government stocks available for industry use. Zinc—primary smelter production of slab zinc is derived by subtracting secondary (redistilled) production at primary and secondary smelters (compiled by Bureau of Mines) from total smelter production (compiled by American Zinc Institute).
©Revisions (units as above): January 1955, lead, 21,174; zinc—ores, etc., 39,155; metal, 14,698; October 1954, total copper imports (refined, unref., scrap), 35,371; total copper exports, December 1954, 30,092; tin exports, November and December 1954, 105 and 132.
(^Revisions for January 1955 (mil. Ib.): Total, 288.7; mill products, 205.1.
° Includes secondary smelters stocks

of refinery shapes not included in data prior to December 1955; for December, such stocks totaled 6,400 tons.



SUKVEY OF CURRENT BUSINESS

S-34
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

May 195
1956

1955
March

April

May

June

July

August

Septem- October Novem- December
ber
ber

January

February

March

April

METALS AND MANUFACTURES—Continued
HEATING APPARATUS, EXCEPT ELECTRIC
Radiators and convectors, cast iron:
Shipments
thous. of sq. ft. of radiationStocks, end of month
- --do _
Oil burners:
Shipments
_
-numberStocks, 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
Coal and wood
_ - _
Gas
Kerosene, gasoline, and fuel oil
-

2,419
6,416

2,035
6,991

1 732
7,898

2,208
7,903

1 865
7, 520

3 615
6,378

3 326
5 845

3 115
5 234

2 779
4 666

1 773
4,834

2 018
4,866

59, 218
62, 655

60,155
71 864

65, 407
69 732

68, 600
68 141

70, 945
65 462

100, 826
59 572

107 972
50 174

94 689
49 268

63 186
49 545

43, 308
49 628

49, 759
55 144

232, 431
fi, 063
217 466
8,902

196, 705
4,283
182 502
9,920

105, 357
7,710
50, 350
47, 297

Warm-air furnaces (forced-air and gravity air-flow),
87, 121
shipments, total
number
Gas
do __ 53, 673
30 510
Oil
do
Solid fuel
-- -.-do
2,938
Water heaters, gas, shipments . __
do _. . 248, 754

do
do. _
do
do

199
4
187
7

682
107
735
840

216 879
4,817
204 170
7 892

156
5
145
5

745
367
951
427

238
6
219
¥>'

014
460
083
471

238
7
218
12

214
752
280
182

227
6
208
12

506
834
633
039

198
7
183
8

852
053
531
268

167
6
152
8

452
476
914
062

98 307
8,624
50 311
39, 372

122 722
10, 624
74 605
37, 493

186 201
1 5, 589
116 854
53, 758

233
26
142
64

198
304
723
171

311
45,
185
80

164
107
481
576

353 820
56 196
214 388
83 236

399
65
251
81

454
947
629
878

303
47
212
43

546
447
565
534

137
18
90
28

91 908
58,012
31 484
2 412
231, 694

99 937
62 696
34 284
2 957
216, 731

117 376
74 125
39 657
3 594
214, 607

107
64
38
4
207

905
563
902
440
226

163 741
99 558
57 792
6 391
260, 438

164
101
54
8
224

150
94
47
8
218

331
368
660
303
521

120
77
37
6
184

948
427
202
319
761

154
828
105
221
027

167
5
153
8

44, 697
63 952

435
084
516
835

191 936
5, 039
178 441
8 456

615
373
908
334

90 755
6,896
57 044
26 815

104 638
10, 245
58 849
35, 544

79 728
52 734
23 623
3 371
175, 173

87 497
56 782
27 859
2 856
224, 004

78 906
51, 025
25 417
2, 464
246, 098

MACHINERY AND APPARATUS
Blowers, fans, and unit heaters, quarterly totals:
Blowers and fans, new orders
thous. of dol__
Unit heater group, new orders
-- do
Foundry equipment (new), new orders, net
mo. ave. shipments, 1947-49 = 100..
Furnaces, industrial, new orders, net:
Klectric processing
thous. of dol__
Fuel-fired (except for hot rolling steel)
do
Machine tools (metal-cutting types):
New orders
mo. aver, shipments, 1945-47=100_.
Shipments
do
Pumps (steam, power, centrifugal and rotary) , new
orders
thous. of dul—
Tractors (except contractors' off-highway and garden) :
Shipments, total
thous. of dol_.
Wheel-type
do
Tracklaying
do

55, 813
14, 648

53,013
16,497

47, 149
19, 204

58, 170
18 228

163.6

178.6

145.7

186.8

213.4

134.0

156.7

108.6

154.4

183. 9

195.6

169.0

152.7

1,342
5 609

2 234
5 032

1 813
3 801

2 635
2 836

786

964

2 981

1 348
4 101

6 579

1 532
7 061

1 543
4 1^1

2 188
8 191

2 102
6 189

1,768
9 770

2 221
3 526

214.6
202 5

178.1
180 1

243.7
180 9

263.2
198 8

217.8
152 9

221.3
164 6

207.3
195 4

347 1
°04 2

433 3
214 2

534.1
237 8

389. 6
184 7

' 291. 2 P 322. 7
218 4 P 250 8

6,161

5,447

6,411

7,419

5, 834

7,022

5, 664

7,048

5,249

7,624

8,094

7, 735

8,987

79, 302
54, 025
25, 277

94, 718
64 847
29, 871

82, 289
51 016
31 273

79, 179
47 911
31,268

63 360
38 613
24 747

52 359
29 308
23 051

59 140
2Q 736
29 404

81 728
42 589
39 139

67 355
33 288
34 067

77 611
39 321
38 290

79 375
44 026
35 349

79, 526
42 795
36, 731

86, 767
44 244
42 523

1 281

1 572

1 794

2 024

2 777

3 039

3 039

2 627

2 556

2 005

152

158

163

161

160

166

162

146

156

140

145

241.9
313.5
1,099.8

255. 9
341.8
1,114.0

239. 7
354.5
1,204.9

206. 8
245.9
718 5

252 7
403.8
930 1

306. 5
414.9
1 242 1

349. 7
362.3
1 396 6

307. 3
361.3
1,487 9

243. 5
357.5
1,694. 7

302.2
393.7
1,078 6

286.4
450. 6
1, 093. 5

583.2

467.4

i 590. 0

344.3

647.9

i 939. 5

759.7

631.7

i 604. 6

588.3

576.3

159.8

153.6

157.7

116.8

146.8

155.7

156.4

155.2

160.2

159.0

163.0

11, 106

10, 909

11, 522

9,856

11,057

12 827

12 399

11,668

12, 074

4,591
1,815
30, 521

4 778
1,799
32, 504

4,679
1,750
35, 310

3 136
1,367
53 017

4 505
1,817
31,611

3 818
1 639
29 682

4 607
1,914
32 216

4 409
1,776
29 522

4,651
1,847
31 052

4 678
2,248
27, 432

4,567
2,136
32, 877

ELECTRICAL EQUIPMENT
Batteries (automotive replacement only), ship1,321
ments
thousands
Household electrical appliances:
141
Refrigeration, output (seas a d j ) *
1947-49=100-.
Vacuum cleaners (standard type) , sales billed
356. 4
thousands.
370.6
Washers, domestic sales billed
- - - -do
i 1,482.3
Radio sets, production§
_ _ __ do
Television sets (incl. combination), production §
thousands.. i 831. 2
Insulating materials and related products:
Insulatine materials, sales billed, index
1947-49 = 100..
159.9
Fiber products:
Laminated fiber products, shipments ©
thous. of doL. 12, 211
Vulcanized fiber:
4,876
Consumption of fiber paper
thous. of Ib
1,803
Shipments of vulcanized products cf thous. of doL
Steel conduit (rigid), shipments
thous. of ft_- 29, 762
Motors and generators, quarterly:
155.4
New orders, index
_
1947-49=100-Polyphase induction motors, 1-200 hp:1
New orders
thous. of dol ! 38 649
34, 638
Billings
- do ._
Direct current motors and generators, 1-200 hp:1
6,729
New orders
__.
thous. of dol
9,052
Billings
.
_ do. _.

__

1

1

1

185.8

1

207. 7

1

49 969
40 578

1
j

9, 950
7, 220

1 314

395.7
405. 7
l 360.1

p 975 (

r 1 680. 0

P 540. -.

rl

4 981
2,234

47 303
41, 659

10, 545
8,179

I 305

201.6

44, 407
41, 298

r

)

12, 986
9,838

PETROLEUM, COAL, AND PRODUCTS

COAL
Anthracite:
Production
thous of short tons
1 910
1 888
2 024
1 755
1 812
2 127
2 029
1 640
2 333
2 334
2 268
2 383
2 712
2 223
Stocks in producers' storage yards, end of month
966
1,132
1,145
1,081
1,000
1,008
1,048
942
thous. of short tons.720
886
433
555
425
175
176
231
374
Exports
do
226
207
302
418
331
331
148
390
Prices:
25.64
24. 18
Retail, composite
dol. per short ton
25.67
24 08
24.48
25. 18
25 51
24.50
24.63
25.96
96 88
26 88
26 37
11.829
12. 257
12. 257
12. 524
13. 261
14. 124 P 14. 124
Wholesale, chestnut, f. o. b. car at mine
do - - 13. 721
13. 721
13. 324
13. 640
14, 124
11. 829
r
l
Revised.
p Preliminary.
Represents 5 weeks' production.
©Beginning January 1956, data are estimated industry totals compiled by Gas Appliance Manufacturers' Association from reports of manufacturers whose shipments represent 80 to 9.
percent of those for the industry.
*New series. Compiled by the Board of Governors of the Federal Reserve System. The seasonally adjusted index reflects changes in total output of refrigerators, freezers, room air conditioners, and dehumidifiers. Monthly data beginning 1947 will be shown later.
§ Radio production comprises home, portable battery, automobile, and clock models; television sets include combination models. Data for March, June, September, and December 195;
and March 1956 cover 5 weeks; other months, 4 weeks.
© Data beginning August 1955 cover 20 companies; earlier data, 19 companies. Comparable figures are not available after December 1955.
cf Beginning January 1956, data include shipments of holloware (except tubes); in 1955, such shipments averaged $189,000 per month.
1 Data for polyphase induction motors cover 34 companies; for direct current motors and generators, 27 companies.




SUKVEY OF CUEEENT BUSINESS

May 1956
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

S-35
1956

1955
March

April

May

June

July

August

Septem- October Novem- December
ber
ber

January

February

March

April

PETROLEUM, COAL, AND PRODUCTS—Continued
COAL- Continued
Bituminous:
Production __
_
thous. of short tons
Industrial consumption and retail deliveries, totalt
thous. of short tons..
Industrial consumption, to talj
- do
Electric-power utilities _
do__
Coke ovens
do
Beehive coke ovens
_ __
do__ _
Steel and rolling mills
do
Cement mills
do__
Oth er industrials
do

38, 336

36, 004

36, 512

43, 052

40, 807

41, 825

43, 627

45, 749

45, 505

35, 105
30, 243
11, 234
8,755
169
511
707
7,578

31, 207
28, 368
9,906
8,519
196
417
672
7,411

31, 478
29, 123
10, 505
8,927
222
387
714
7,093

31, 356
28, 716
10, 808
8,523
244
365
687
6,887

31, 441
29, 083
11, 464
8,621
238
342
707
6,508

34, 231
30, 831
12, 290
8,886
276
357
710
7,003

34, 850
30, 539
11, 783
8,858
268
364
703
7,283

37, 533
32, 713
12, 382
9,151
291
407
732
8,339

40, 581
34, 387
13, 026
9,020
315
486
768
9,281

45, 403
37, 506
14, 482
9, 432
373
575
871
10, 265

45, 473
37, 592
14, 936
9,450
409
565
848
10, 019

41,218
34, 228
13, 181
8,821
394
520
753
9,358

1,278
11

1,203
44

1,240
35

1,159
43

1,154
49

1,253
56

1,228
52

1, 351
60

1,435
56

1,486
22

1,362
3

1,197
4

do. _

Retail-dealer deliveries

34, 555

do
_-do__

Railroads (class I) _
Bunker fuel (foreign trade)

4,862

2,839

2,355

2,640

2,358

3,400

4,311

4,820

6,194

7,897

7,881

6,990

63, 664
63, 022
37, 035
10, 776
505
963
12, 494
1,249

64,001
63, 270
37, 376
10, 702
534
970
12, 469
1,219

66, 356
65, 471
38, 347
11, 516
561
1,015
12, 840
1,192

69, 452
68, 310
39, 225
12, 747
558
1,140
13, 405
1,235

68, 042
66, 845
38, 405
12, 348
548
1,166
13, 258
1,120

70, 988
69, 701
39, 288
13, 674
567
1,236
13, 762
1,174

71, 700
70, 443
39, 872
13, 993
580
1,289
13, 556
1,153

71, 747
70, 516
40, 208
13, 892
570
1,304
13, 420
1,122

70, 325
69, 211
39, 720
13, 604
527
1,342
12, 923
1,095

68, 423
67, 425
38, 228
13, 342
576
1,270
12, 922
1,087

65, 797
64, 852
36, 442
12, 562
579
1,132
13, 064
1,073

65, 251
64, 384
36, 171
12,342
551
1,040
13, 286
994

Stocks, industrial and retail dealers', end of month,
total
thous. of short tons
Industrial, total.. __
do_._
Electric-power utilities
- - --do
Coke ovens
do
Steel and rolling mills
do
Cement mills
do.. .
Other industrials
- do
Railroads (class I). __
do
Retail dealers

r

37, 206

-

do

Exports
do
Prices:
Retail, composite
dol. per short ton
Wholesale:
Screenings, indust. use, f. o. b. car at mine-, do
Large domestic 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
A t merchant plants
do. _
Petroleum coke
do
Exports
do. _
Price, beehive, Connellsville (furnace)
dol. per short ton__

42, 575

642

731

885

1,142

1,197

1,287

1,257

1,231

1,114

998

945

4,558

4,728

4,992

4,647

5,719

5,436

5,534

4,656

4,340

4,189

3,825

15.10

15. 00

14.77

14.81

14.83

14.93

15.25

15.40

15.43

15.46

15.55

15. 56

4.480
6.920

4.401
6.369

4.377
6.371

4.390
6.423

4.395
6.588

4.430
6.738

4. 737
7.104

4.706
7.166

4.722
7.187

4.727
7.204

4.732
7.233

r 4. 731

102
6,131
486

117
6,014
438

135
6,287
476

154
6,001
479

145
6,039
483

170
6,230
467

163
6,234
417

179
6,452
473

189
6,357
519

225
6, 640
536

254
6,661
531

'241
6,235
499

262
6,622

2,526
1,579
946
476
39

2,485
1, 529
956
498
29

2,346
1,373
973
473
44

2,188
1,227
961
440
44

2,112
1,198
914
437
57

2,056
1,250
806
402
39

1,975
1,291
684
361
45

1,782
1,240
542
330
48

1,748
1,319
429
307
58

1,697
1,386
311
305
53

1,649
1,433
215
321
63

1,635
1,479
155
333
45

1,674
1,535
139

13.75

13.75

13.75

13. 75

13.75

13.65

13.63

13.63

13.63

13.88

14.13

14.13

14.13

2,738
213, 454
90
228, 594

2,787
206, 600
87
214, 080

2,594
206, 983
89
225, 699

2,798
198, 389
91
224, 510

2,661
205, 600
93
234, 986

2,834
206, 604
93
234, 966

2,746
201, 919
91
224, 478

2,473
211, 770
90
231, 411

2,598
210, 406
93
230, 758

2,512
221,804
93
240, 634

2,643
223. 160
95
248, 721

2,533
209, 027
95
233, 374

264, 430
68, 829
176, 193
19, 408

275, 232
71, 215
184, 317
19, 700

276, 948
71, 293
185, 771
19, 884

270, 850
70, 788
181,076
18, 986

264, 601
69, 399
175, 702
19, 500

256, 427
65, 920
171, 285
19, 222

256, 269
67, 887
168, 344
20, 038

259, 201
67, 823
171, 247
20, 131

260, 707
65, 095
175, 427
20, 185

265, 610
66, 852
178, 771
19, 987

261, 592
67, 940
173, 383
20,269

259, 504
68, 516
171, 050
19. 938

771
24,748
2.82

1,431
20, 487
2.82

1, 166
22, 857
2.82

1,053
24, 739
2.82

887
>• 24, 856
2.82

1,191
26, 502
2.82

832
25, 161
2.82

871
25,606
2.82

872
26, 658
2.82

1,040
30, 368
2.82

994
25,732
2.82

501
24,906
2.82

48, 802
32, 392

48, 788
33, 823

50, 187
33, 794

48, 557
31,815

49, 934
34, 821

50, 347
36, 412

54, 666
39, 879

59, 617
41, 674

55, 622
37, 291

29, 994
40, 754

28, 359
38, 919

33, 781
41, 287

37,290
37, 866

38, 848
42, 583

59, 700
51, 219

83, 910
60, 538

83, 741
59, 673

69, 165
54, 412

4,692
8,337
6,362

4,617
8,185
7,005

5,369
8,471
7,332

5,183
8,330
6,755

6,043
8,456
7,061

7,096
8,688
6,455

8,540
9,007
6,777

8,221
8,798
6,292

7,095
8, 231
5,611

100, 652
44, 398

119, 169
44, 894

133, 675
45, 480

143, 248
46, 267

152, 288
47, 040

141, 808
44,071

111, 333
39, 174

86, 141
38, 247

71, 335
35, 673

2,172
2,435

2,259
1,866

2,194
2,618

2,195
' 2, 200

2,283
1,884

1,427
1,456

1,559
2,088

1,516
1,146

1,770
1,264

.101
1.700

.101
1.750

.101
1.750

.103
1.750

.098
1.750

.098
1.750

.103
1.800

.106
1.950

.106
2.000

7,923
4,374
29, 830
221

8,767
5,436
32, 749
430

8,797
6,116
35, 292
295

8,270
7,036
36, 361
144

9,391
9,087
36, 705
93

10, 055
13, 473
33, 283
93

12, 028
18, 602
26, 770
92

11,940
17, 426
21, 310
176

11, 165
13, 830
18, 712
53

.108

.108

.108

.108

.103

.103

.108

.111

.111

15.57

v 4. 786
' 7. 229 p 7. 062

PETROLEUM AND PRODUCTS
Crude petroleum:
Wells completed
number.
Production cf
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
do
On leases
- - _do_ _ _
Exports
Imports
Price (Oklahoma-Kansas) at wells

do
do
dol. per bbl__

Refined petroleum products:
Fuel oil:
Production:
52, 713
47,033
Distillate fuel oil
thous of bbl
46, 001
36, 722
33, 288
34, 426
Residual fuel oil
do
Domestic demand: d*
58, 252
37, 177
31, 726
Distillate fuel oildo
51, 475
43, 668
41, 848
Residual fuel oil
do
Consumption by type of consumer:
5,678
4,884
6,813
Electric-power plants
do
7,635
8,268
7,688
Railways (class I)
do
6,379
6,332
6,708
Vessels (bunker oil)
do
Stocks, end of month:
70, 139
83, 559
62, 457
Distillate fuel oil
do
43, 838
45, 083
44, 970
Residual fuel oil
do
Exports:
1,521 ' 1, 294 2,109
Distillate fuel oil
do
2,670
2,256
2,231
Residual fuel oil
do
Prices, wholesale:
Distillate (New York Harbor, No. 2 fuel)
.102
.102
.101
dol. per gal__
1.500
1.600
1.500
Residual (Okla No 6 fuel)
dol per bbl
Kerosene:
9,258
9,065
10, 866
Production
thous. of bbl
5,799
3,878
r 10, 940
Domestic demand c^
do
26, 375
18, 187
21, 486
Stocks end of month
do
179
215
300
Exports
- - do
Price, wholesale, bulk lots (New York Harbor)
.110
.108
.110
dol. per gal. r
Revised.
? Preliminary.
JRevised (effective with the October 1955 SURVEY) to include bunker fijel.
cf Revisions for 1954 will be shown later.
9 Includes nonmarketable catalyst coke.




40, 580

867

2,282

43, 090

P2.82

6,224
6,642

T. 106
P2.000

p. Ill

14.13

SURVEY OF CURRENT BUSINESS

S-36
Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

May 1956
1956

1955

March

April

May

June

July

August

Septem- October Novem- December
ber
ber

January

February

March

April

PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products— Continued
Lubricants:
4,602
Production
,.
thous. of bbl__
3,665
Domestic demand 9
do
9,779
Stocks, refinery, end of month
do_ _ _
1,179
Exports
do
Price, wholesale, bright stock (midcontinent,
.180
f o. b. Tulsa) _
_.dol. per gal
Motor fuel:
Gasoline (including aviation) :
Production, total 9
-thous. of bbl_. 109, 838
97, 207
Gasoline and naphtha from crude oil
do
Natural-gas liquids:
10, 067
Used at refineries (incl benzol)
do
2,564
Used in other gasoline blends, etc 9
do
Domestic demand 9
Stocks, end of month:
Finished gasoline
At refineries
Unfinished gasoline
__
Natural gasoline and allied products

- do
do
do
do _
do -

Exports (motor fuel, gasoline jet fuel)
__do_- Prices, gasoline:
Wholesale, refinery (Oklahoma, group 3)
dol. per gal. _
Wholesale regular grade (N. Y.)
- do
Retail, service stations, 50 cities
do
Aviation gasoline:
Production total
thous. of bbL100-octane and above
do
Stocks end of month, total
- - do
100-octane and above
- do Jet fuel:*
Production
--- do
Domestic demand
do
Stocks end of month
_ do
Asphalt:©
Production
do- Stocks refinery, end of month
do.
Wax:Q
Production
- do _
Stocks refinery, end of month.
do
Asphalt products, shipments:
Asphalt roofing, total
Roll roofing and cap sheet:
Smooth surfaced
M^ineral surfaced
Shingles, all types
Asphalt sidings
Saturated felts

thous. of squares
- do__
do
do
do
short tons

-

4,691
3,589
9,615
1,211

4,740
3,766
9,430
1,097

4,818
3,750
9,233
1,208

4,557
3,488
8,947
1,289

4,871
3 986
8,547
1,220

4,526
3 572
8,291
1 143

4,666
3,720
8,108
1,060

5,115
3 713
8,433
1 024

4,693
3 150
8,763
1,155

4,985
3 512
9,167
1,011

4,536
3 415
9,309

.180

.180

.180

.180

.180

.190

.190

.200

.200

.200

.210

105, 069
92, 793

111, 759
99, 016

111,759
99, 291

118, 548
105, 582

119, 601
106, 311

113, 527
100 259

118, 652
104, 839

116, 009
102 255

121, 411
107 750

121, 733
108 247

111, 754
99 106

9, 486
2,790

10, 027
2,716

10, 001
2,467

10, 475
2,491

10, 643
2,647

10 614
2,654

11, 903
1,910

11, 379
2,375

11, 479
2,182

10, 883
2,603

9,507
3, 141

921

P. 220

105, 684

111, 116

115, 707

120, 710

115, 653

121, 816

113, 379

112, 558

109, 212

111,034

100, 642

98, 088

172, 396
101. 119
11, 576
12, 805

165, 413
93, 285
10, 188
13, 460

158, 552
85, 132
10, 199
14, 976

147, 154
76, 363
10, 285
16, 327

146, 844
75, 499
10, 235
17, 553

141, 352
72, 578
10, 560
18, 048

140, 236
71, 035
9,958
17, 658

143, 080
73, 327
10, 023
18, 144

148, 050
74, 852
9,821
16, 450

156, 047
85, 585
9,386
13 564

172, 865
101, 160
11,040
11, 605

184, 554
109, 772
11, 538
11,392

1, 559

1,642

2,135

2,067

2,471

2,416

2,171

2,510

1,904

2,262

2,129

1,101

.105
.125
.214

.105
.125
.216

.108
.125
.215

.108
.125
.214

.108
.125
.219

.110
.125
.218

.110
,125
.214

.110
.130
.213

.110
.130
.212

.110
.130
.216

.110
.130
.214

.110
.130
.213

8,217
5,934
10, 030
6,063

7,878
6,433
9,605
6,098

8,771
6,496
9, 675
6,124

8,926
7,169
8,557
5,230

9,315
6,942
9,556
6,115

9,416
7 227
9,621
6 210

8,834
9,263
6 843
7,480
10, 108 • 10,074
6,487
6,527

8,295
6 803
10, 035
6,571

9,129
7 447
9,540
6 108

' 8, 476
6 624
10, 408
6 439

8,017
6 245
11, 496
7 304

5, 285
5,087
3,566

4, 243
4,202
3,607

4,845
4,972
3,480

5,007
4,833
3,619

4,549
4 711
3, 456

5,029
4 899
3 542

4,968
5 181
3 329

5,076
5 136
3,229

4,754
4 786
3,197

4 464
4 204
3 457

4 494
3 870
4 081

5,053
4 986
4 148

5,067
10, 869

6,278
11, 779

7,827
11,524

8,799
9,943

9,506
9,107

9,462
6,918

9,047
5,789

8,082
5,669

6,017
6,504

4,560
7,768

4,433
9,051

4,733
10, 608

466
542

441
552

423
554

464
590

433
602

408
573

416
561

445
535

482
536

455
551

444
538

444
566

5 801

r 4 644

r 2 986

3 188

4 624

6 157

626
630

958
902

ar

5,476

r

« r 1, 104
a r
1, 060

r

1, 062

r I
r

o r 3, 312
o r 122

<"109,939

5, 975

r

091

3, 822
r
100
91, 396

r

T

5, 863
r

974
r
1 104
' 3, 785
r
93
r
79, 414 r

T
r
r

6 727
1, 106
1 274
4, 347

109

94, 500

r

r

6 064

r

1 282
1 441
r
4 166

r

856
1 074
r
3, r285
93
r
72, 481

6 888

r
r
r

1 160
1 277
3 627

»• 1 149
r i 319
r
3 334

77 460

r go 747

r

5 215

r
r

r

r 122

96 829

r 134

r

r

' 904
r 1 065
r

r 144
r

573

r 692
r

1 721
r 78
r 124
103 087 r 82 610
2 675

p. 110
•P 125
.214

1 932

2 765

1 199
1 230
3 728

53 945

83, 527

98 828

3 234
3 039
5 027

3 076

r 5 165

3 147
3' 106
5 202

.215

83

112

120

PULP, PAPER, AND PRINTING
PULP WOOD AND WASTE PAPER
Pulpwood:
Receipts
thous of cords (128 cu. ft.)
Consumption
do
Stocks, erid nf jnonth
do
Waste paper:
Receipts
short tons
Consumption. ._.do_Stocks end of month
_
do
WOOD PULP
Production:^
Total, all grades
thous. of short tons
Dissolving and special alpha
-do
Snlfate
._
__
. do
Sulfito,
do
Groundwood
do
Defibrated or exploded
_ _ _ ._ do
Soda, semichem., screenings, damaged, etc. -do _ _
Stocks, end of month :<?
Total, all mills
--- -.__ do
Pulp mills
__.do
Paper and board mills
do
Nonpaper mills
do
Exports, all grades, total 9
Dissolving and special alpha
All other
_

_

do
do
.__ do

2 189

2,647
2,862
5 348

2, 752
4 785

2 416
2,842
4 359

2 713
2,837
4 235

2 734
2, 605
4 363

3 075
2 878
4 566

2 968
2 716
4 811

2 899
2 987
4 726

2 640
2 886
4*482

3 048
2 762
4 773

785 696
785, 023
398 987

743 006
733, 154
407 295

795 214
793, 855
408 530

865 151
904, 539
779 120

668 080
633, 344
436 772

781 481
802 637
415 277

765 167
781 546
398 680

808 959
800' 758
406 763

796 131
780 973
421 687

750 842
711 936
458 697

750 367 r 755 915
765* 042 r 763 252
445 724 r 445 456

812 0%
811 858
446 434

1, 784. 1
82.1
964.3
223.0
233 9
116.8
164.0

1 709.4
70.4
920.2
233 9
219 7
106.6
158.6

1 787.9
91.5
976. 5
211.8
226 2
112.0
170.0

1, 768. 3
89.2
971.0
210 6
219 8
112.1
165.6

1 631.2
66.6
891.7
201.0
218 0
105. 5
148.5

1 810 7
99.4
976.8
210 9
230 7
115.9
176.9

1 710 9
61.6
943 6
204 8
222 1
110 8
168.0

1 873 9
88.2
1 005 7
232 7
244 0
116 6
186 7

1 801 2
83.6
983 4
213 3
236 6
108 5
175 9

1 716 2
85.3
924 1
200 1
235 4
100 1
171.3

1 890 9
82.8
1 019 7
241 5
246 1
106 1
194 8

1 912 9
93! 5
1 031 1
224 9
261 5
108 8
193 1

714.0
155.8
485.0
73.2

712.1
154.9
479.5
77.7

719.3
162.0
475.0
82.3

752 9
170.8
491.2
90 9

741.0
162.8
491.8
86.4

759 4
164.8
506.5
88.1

764 5
152 1
520.2
92 3

770 4
157 4
514.8
98 1

771 8
151 9
517.6
102 2

762 9
131 6
526.1
103 9

54.4
15.1
39 3

55 4
16.1
39 2

49.5
12.4
37.1

48 7
15.0
33 7

52 8
19.0
33 8

53.5
14.5
39.0

57 6
19.7
37 9

40 5
14.1
26 3

55 0
17.6
37 4

58 4
22 6
35 7

r 2 924

r 1 813 6

' 88.' 4
989 2
222 7
r 240 8
r 97 3
175 3

r 775. i r 785 9
156 1
165 2
r
518 3 T 520 3
100 7
100 2
38 8
15 0
23 9

777
169
502
105

'

o
i
4
4

47 2
15 9
31 3

Imports, all grades, total 9 _ _
_
do. _
212.5
157.2
188 0
194 1
210 6
185 6
208 4
181.1
208 6
191 0
159 6
201 2
15.9
19.2
Dissolving and special alpha...
.
do
18.1
15.2
20.5
18 5
14 8
16.9
21.5
19.1
14 1
18.8
All other
do
194.5
177.2
142.1
172.0
161.9
190.0
167.0
176.3
186.9
189.5
187.1
140.8
r
Revised.
v Preliminary.
9 Revisions for 1954 will be shown later.
*New series. Prior to 1954, included with data for gasoline, kerosene, and distillate fuel oil; for January-July 1954 figures, see note "!" on p. S-35 of the November 1954 SURVEY and earlier
issues.
©Asphalt—5.5 bbl.=l short ton; wax—1 bbl.=280 Ib.
cfEffective with the October 1955 SURVEY, data as compiled by the Bureau of the Census have been substituted for those from the United States Pulp Producers Association.
0
Revisions for January and February 1955 (units as above): Asphalt roofing, total, 3,451; 3,491; roll roofing and cap sheet—smooth surfaced, 649; 683; mineral surfaced, 758; 748; shingles,,
2,044; 2,060; asphalt sidings, 86; 82; saturated felts, 67,712; 82,644.




SURVEY OF CUERENT BUSINESS

May 1956

S-37
1956

1955

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
March
BUSINESS STATISTICS

April

May

July

June

August

Septem- October Novem- December
ber
ber

January

February

March

April

PULP, PAPER, AND PRINTING—Continued
PAPER AND PAPER PRODUCTS
All paper and board mills, production:!
Paper and board total
thous of short tons
Paper
do
Paperboard
do
Wet-machine board
_ do. _
Construction paper and board
do

r 2 579
1 117
r
1,170
14
r
278

Paper, excl. building paper, newsprint, and paperboard
(American Paper and Pulp Association):
Orders, new
thous. of short tons_ _ 1, 049. 2
Orders, unfilled, end of month
_ do_
756. 8
Production
do
999.6
Shipments.
_ do
1, 007. 3
Stocks, end of month
do
413.5
Fine pap e r:
Orders, new__ _ _ _ _ _ _
_ _
do
133.4
Orders, unfilled, end of month
do_ __
75.6
Production
_
_
do___
127.7
Shipments
__
do
134.1
Stocks, end of month _
__ __
_ __do 101.5
Printing paper:
Orders, new
_ __
_ do
362. 4
Orders, unfilled, end of month _ _ _
_ , _ do_ _
382. 4
Production
do
343 9
Shipments
_.do
344. 1
Stocks, end of month___ ._
do
153. 6
Price, wholesale, book paper, "A" grade, English
finish, white, f. o. b. mill _ _ __ dol. per 100 lb_
14.10
Coarse paper:
354.2
Orders, new
-thous. of short tons. _
Orders, unfilled, end of month
do
176. 4
Production
do_ _
331.6
332. 8
Shipments
- do
Stocks, end of month
do. .._
90.4
Newsprint:
Canada (incl. Newfoundland):
Production
_ do
539. 1
512. 0
Shipments from mills
do _.
Stocks, at mills, end of month
do
191.9
United States:
438. 9
Consumption b y publishers _ _ _ _ _ _
do _
127.3
Production!
- - do_ _
126. 9
Shipments from millst—
do
Stocks, end of month:
7.6
At mills
__
do___
383. 1
At publishers
_ __
do _
82.6
In transit to publishers. __
_ _ _-do_
Imports
_ _ _ _ _ do_ _
435.8
Price, rolls, contract, delivered to principal ports
dol. per short ton_. 125. 75
Paperboard (National Paperboard Association):
Orders, new
thous. of short tons... 1,311.7
Orders unfilled, end of month
do
515. 7
Production, total _
_ _ _ _ _ __.-do
1, 214. 1
Percent of activity
96
Paper products:
Shipping containers, corrugated and solid fiber,
8,226
shipments
.mil. sq. ft. surface area-Fold ing paper boxes, index of value:
New orders
_
1947-49=100193.9
Shipments
_ _ __ _
_ _ _ do _
178.9

2 457
1 066
1,113
14
265

2 545
] 083
1 170
13
278

2 559
1 079
1 197
14
270

2 265
968
1,026
9
261

2 605
1 078
1,218
14
296

2 518
1 065
1, 164
13
275

2 681
1 154
1,236
13
278

2 599
1 105
1 222
13
260

956. 4
750. 9
951. 8
939.2
422. 7

959.2
770.6
958.0
952.2
426.7

985.2
805 6
953 3
960. 2
433.0

894.2
838 6
850.7
834.8
436.9

949.4
860 8
950 5
941 6
446.9

997 6
898 8
946 8
949 1
446.1

1,034 4
892 7
1 022 3
1 ,004 4
459.4

957 2
876 0
973 7
953 8
471.1

987 0 i r 908 9
892 0 i r gg5 2
r 949 5 r\ 034 l
939 0 1 r 860 8
442.0 1 r 391. 8

124.4
78.1
120.6
120.4
97.5

126.1
85.9
125.2
124.5
103 1

131 8
92 4
126 6
133 9
104 9

109 4
103.4
98 6
98.9
99 6

113 5
96 2
116 7
118 6
94 7

128
109
123
"124
100

4
4
5
1
5

129 5
108 8
128 9
125 4
101 5

122
106
125
126
99

r 132 6
r 128 2
' 113 2 r 123 0
r 131 6
r 122 7

318.9
372.2
317 2
312.7
158.0

327.7
380.0
326 3
330 1
154 3

363 6
415 4
324 g
327 8
151 1

317.0
433.3
285 8
280 7
156.2

337 1
451.5
329 7
330 7
155 2

338
435
325
393
156

2
1
2
g
6

357 0
441 2
337 7
340 6
153 8

340 0
438.2
333 6
335 7
151 6

5
8
3
9
0

14.10

14 10

14 10

14.45

14 45

14 45

14 45

14 45

318.7
172.3
310. 1
311.1
84.6

316.8
180.5
313 4
309 0
87 7

304
175
311
311
93

6
9
4
5
5

296.9
181.0
284.0
282 2
87.6

313 9
188.9
311 0
308 2
93 4

331 6
223 9
306 9
305 5
88 7

339
210
332
328
89

312
205
315
309
93

518.6
540.5
170.0

521 3
525 0
166. 3

507 8
543 4
130 7

490 4
502.4
118.7

539 5
534 6
123 6

503 2
501 6
125 2

431. 8
122.7
122.9

455.4
135 2
132 8

422 2
133 0
135 1

378.4
126 2
123.4

384.7
136 7
138 9

7.4
369. 2
78.8

9.8
340 4
86.4

7 7
345 2
86 4

10.5
358 7
83.7

8.4
404 0
81 0

2 461
1 078
1,129
12
243

2 655
1 161
1,233
12
250

*• 123 9
r 93 o

r 133 o
r 95 3

r
361
r

r 391 4

7
465 3
r 330 2
r 329 5
r
152 3

r

504 1

r 349 8
r 346 9
r 155 2

r

2 598
1 132
1,198
12
r
256

2 758
1 204
1,251
13
290

i ggS 0
i 908 0
1 020 0
i 861 0
1
387. 0
131 0
125 o
131 0
129 0
85 0
368
514
360
355
160

0
0
0
0
0

P 15 05

14 85

15 05

3
0
0
3
0

'•316 9

r 326 8

r 214 4

r 210 8

r 88 5

r 333 g
r 323 6
r 94 o

538 8
547 2
116 9

541 7
544 4
114 2

520 0
554 i
80 1

523 3
502 3
101 1

514 7
501. 6
114. 1

552 9
534 8
139 2

424.8
126 7
125 9

478 9
141 8
141 4

461 8
149 o
144 1

419 2
131 9
131 0

402 3
139 5
140 5

397.8
130 5
132.0

446 1
149 0
147 3

91
379 7
86 2

95
342 3
80*7

7 5
325 7
82 5

83
361 0
97 4

7 3
360 0
112 o

58
366 1
107 2

7 4
366 3
103 9

459 3

430 2

0
5
6
4
0

r 309 4
r 316 1

15 05
329
220
322
319
94

0
0
0
o
0

421.2

446.7

447 5

392.0

454.8

409 3

453 1

458 3

483 2

125. 75

125. 75

125. 75

125. 75

125. 75

125. 75

125. 75

126. 75

127. 00

1, 163. 1
507.6
1, 142. 2
95

1, 248. 4
621 0
1, 187 2
96

1, 239. 0
582 2
1 210 6
99

1, 082. 4
602 9
1, 019. 2
81

1, 305. 7 1, 167. 4
585 7
665 8
1 264 3 1 192 4
99
97

1, 299. 8
591 3
1 260 2
102

1,255.1
654 6
1 261*4
100

1, 203. 7
577 2
1 223 7
90

1,195.4
539 5
1 184 8
100

1,155.3
584 2
1 189 7
100

1, 303. 0
547 0
1 291 1
100

7,863

7,948

8,171

7,098

8.603

8,594

8 814

8 247

7 827

7 588

7,758

8 686

188. 1
168.0

183 8
167. 1

198 9
179 9

187 3
150.3

206 6
188 5

188 1
191 0

189 7
194 3

191 6
189 2

185 2
180 7

195 7
164 9

189 4
189 0

232 0
186 1

1, 175
965
210

1, 069
838
231

993
800
193

920
692
228

723
588
135

951
783
168

1 467
1 256
211

1 086
926
160

1 216
' 969
247

717
570
147

851
615
236

1 334
1 066
268

54 995
110 795
45, 720

52 769
103 774
50 509

129. 00 * 130. 25 p 130. 25
1, 146. 2
535 0
1 136 6
98

FEINTING
Book publication, total
New books _ _
__
New editions

_

number of editions. __ _
__do
do

1,068
882
186

1 125
912
213

RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
.._ _ _. __. . __ long tons _. 58, 472
Stocks, end of month
_
do
102, 058
Imports, including latex and guayule _
do__ - 61, 250
Price, wholesale, smoked sheets (New York)
dol. per lb__
.313
Synthetic rubber:
Production
long tons. - 78, 757
Consumption
_
_ _ _ _ . d o _ _ 77, 173
Stocks, end of month
do
143 587
Exports
._
_- _ _ _ _ - do_ -_
4,454
Reclaimed rubber:
Production
_
Consumption
_
Stocks, end of month

52, 963
101, 620
61,113

54, 746
106 650
61,042

56 282
100 861
52, 838

46 166
105 782
43, 626

48 359
109 05A
59, 840

50 963
113 185
50,' 459

.323

.314

.348

.400

.455

.493

.433

.453

75, 604
72, 123
141 444
5, 564

81,617
75 421
138 108
5, 740

77,819
79 497
130 694
8 710

81, 472
62 897
139 902
7 896

83, 628
72 722
137 050
10 497

83, 257
76 375
136 035
11 847

89, 060
80 389
134 753
11 241

91, 281
81 661
133 664
10 890

48 377
109 530
48 195

.470




.408

'.373

.345

90, 319
93, 522
90, 488
76 026 T 7§ 480 r 75 240
136 319 141 296 r!45 906
11 005
10 723
12' 758

94, 389
78 289
151 427

99 113
29, 574
26 678 27 911 30 426
24 034
25 183
26 377
27 947
28 102
28, 674
26, 609
27, 652
29 157
22 563 25 790
26 340
26 597
27 2^9
24 515
30, 311 30, 068
29, 528
29, 725
29, 939
27, 956
27, 110
27, 565
28, 473 3l! 058
r
Revised.
» Preliminary.
i Beginning January 1956, data exclude estimates for "tissue paper."
t Effective with the October 1955 SURVEY, items have been revised as follows: Construction paper (formerly included in the total for paper) is now
wet-machine board was formerly included with paperboard.
t Revisions for January-December 1954, appear in the March 1956 SURVEY.
do
do__
__ _ _ do

r 53 751 r 50 285 49 5%
111 413 T 1 11 ' 832 109 376
53 352
58 803

26 205 r 27 108
25 827 r 95 571
31, 640 r 31, 875

.322

28 349
26 874
33, 954

combined with construction board;

SURVEY OF CURRENT BUSINESS

S-38

May 19.!

1955

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
BUSINESS STATISTICS

March

May

April

June

July

1956

Septem- October Novem- December
ber
ber

August

January

February

March

Apri

RUBBER AND RUBBER PRODUCTS—Continued
TIRES AND TUBES
Pneumatic casings: d"
Production
Shipments, total
Original equipment
Replacement equipment
Export

thousands. _

10, 083

9,153

9,949

10, 703

9,027

8,717

9,125

9, 555

9,603

8,478

8,979

8,897

do
do
-do
do

9,907
4,780
4,926
201

9,937
4,457
5,315
165

9,865
4,352
5,361
152

10, 234
3,931
6,129
174

9 729
3,890
5,711
128

9 462
3,362
5,980
119

8 453
3 142
5,170
140

8 117
3 495
4,460
161

8 045
4 303
3,592
150

7 515
4 045
3 298
172

8 203
3 402
4 669
131

7 473
3 342
3,952
178

do
do

15, 609
180

14, 890
155

14, 936
154

15, 460
155

14 684
125

13, 908
111

14 674
137

16 163
147

17 727
140

18 778
166

19 517
146

20 933
142

_do
do

3,234
3,327

2,836
3,250

3,005
3, 233

3,136
3,565

2,768
3,450

2,923
3,733

3,169
3 261

3,119
3 004

3, 052
2 875

2,719
2 686

2,917
3 608

2,969
2,921

8,217
96

7,963
87

7,735
62

7,326
78

6, 664
67

5,917
48

5,966
78

6,286
67

6 734
78

6 833
83

6 294
131

6, 547
i 42

24 894

23 075

21 440

19 578

_

Stocks, end of month
Exports
Inner tubes: cT
Production
Shipments

_

_

Stocks, end of month
Exports

do
do .

STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Production
Percent of capacity
Shipments
Stocks, :nd of month:
Finished
Clinker

22, 340
89
22, 941

27, 031

26, 762

103

108

111

107

109

109

110

29, 527

101

91

25, 295

31, 606

29. 467

31, 8S3

29 887

28 950

21 985

17 203

26, 516
12, 571

26, 106
12, 044

23, 672
10, 439

18, 855

16, 727
7,192

12, 731

8,624

9, 779
4,413

8,754

5,373

3, 514

11, 664
4, 236

17, 516
7,001

569, 355
605, 391

613, 871
652, 091

653, 910
684, 429

623, 164
627, 200

677, 449
680, 758

675, 876
677, 850

656, 868
637, 593

632, 714

581,028

28. 654

28. 750

28. 846

28. 952

29. 308

29. 451

29. 736

163,417
148,750

142, 879
147, 018

156, 551
173, 337

179, 359
197, 360

151, 504
170, 587

173, 326
193, 115

182, 797
187, 947

7
2, 470
69, 059

65, 146
70, 105

67, 600
72, 353

77, 358
77, 109

72, 615
69, 870

73, 376
80, 651

69, 241
74, 339

thous of bbl
thous of bbl
_

_ _ _ _

_do_
do

-

24, 818

27 332

27, 861

26 958

27 924

r

80

78

13 500

16 093

25, 454
10 460

28, 939
13, 732

566, 810
480, 413

565, 351
434, 730

536, 072
455, 350

29 831

30. 018

30. 092

171,814
171,749

174, 343
157. 170

163, 161

117,863

155, 334
120, 988

157, 162
155, 027

159,463

72, 165
73, 672

69, 631
64. 489

69 078
59, 681

69 419
54, 220

63, 373
51, 331

68, 058
54, 655

r

10, 430

11 097

11,128

11,865

r

11,651

9,578

9,952

11,956

r 1, 062

853

993

1,025

3 431

2,717

2, 663

2,843

612
584
964

r
T

CLAY PRODUCTS
Brick, unglazed:
Production
thous. of standard brick _ 562, 507
568, 469
Shipments
- ... -_do
Price, wholesale, common, composite, f. o. b plant
28. 559
dol. per thous.
Clay sewer pipe, vitrified:
Production
Shipments
Structural tile, unglazed:
Production
Shipments

short tons
do
do
do

611,058
541,423

* 30. 281 p 30. 397
173, 193

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 °ross
Beverage
Beer bottles
Liquor and wine

do
do
do

Chemical household and industrial
Dairy products
Stocks end of month

do
do

-

do

537

r

arU 058

r

arU

a r

r

10 674

r

7

1, 053

a r 2

11 321

854

'• 1 007

ar

!4, 361

14, 635

r

r

r

1,282
* 1, 187
T
2 5M>

••1,008
213

14, 445

r 14,312

11 139

13 433

r

14 596

r

11 522

r

11 343

T

1, 223

r

3 111

T 4 777

1,230
1, 161
r
976
T 2 300
r
926

' 1,513

203

r
r

T

3, 290

313
156
080
6S8
970

12 120

r

1, 193

I
1,
1,
r2
r

195
r

1 2, 272

1, 129

T

r 939

201

11 888

T

1,070
1,115
r 2 557
r

a T 2 °2°
a

r
r

r 3 349

»-982

' 855
* r 1, 279

f 12, 544
r

r

1, 067

r 2 749

887

12 020

1, 145
* 1, 149
r 3 204
r
1 199

r 1, 024

329

329

13, 377

>• 13, 154

14, 919

r

11,365

1, 755

r

r

3 291

r

10, 816
r

1, 355

r 3 032

1, 862

r<2 775

r
r

471
589

708
730

1, 352
2 573
r
846

r I, 168

237

240

960
198

13, 833 r 14.237

* 12, 814

13, 995

240
r

* 936
2 973

' 1, 492
f 2 967
r
1,012

r 1, 208

9, 977

r

411
597

480
739

931

212

r

r

12, 476

r

^ 3 379
'933

2 690

838
660

1,656

1,085
2 640

1, 347
2 932
1,010

14, 882

14, 516

886
187

940

203

GYPSUM AND PRODUCTS
Crude gypsum, quarterly total:
Imports
Production

2 333

877
2,589

1,327
2,871

2,780

2 025

2, 148

2 402

2 238

650 059

753, 070

761, 983

750, 171

do

73 624

72, 338

72, 174

80, 692

do
do

395 234
255 906

476. 667

511,104

312,123

357, 985

416, 164
317, 381

724 4

771.3
1, 175. 1
56.9

thous of short tons
do

Gypsum products sold or used, quarterly total:
TJncalcined uses
short tons
Industrial uses
Building uses:
Plasters:
Base-coat
All other (incl Kcene's cement)
Lath
Wallboard
Allother 0
r

653

683 3
mil of sq ft
do_._. 1, 137. 4
44.3
do

1,157.4
55.8

r

1, 078

748.1

1,241.9
55.8

l
Revised.
p Preliminary.
Beginning January 1956, data exclude exports of passenger car inner tubes; such exports averaged 27,000 per month in 1955.
cf Data for 1954 for production, shipments, and stocks have been revised. Unpublished revisions (for January-May) are available upon request.
O Comprises sheathing, formboard, tile, and laminated board.
« Revisions for glass products for January and February 1955 (thous. gross): Production, 10,745; 10, 495; shipments—total, 9,811; 9,411; narrow-neck food, 844; 858; wide-mouth food, 3,072
2,768; liquor and wine, 864; 994; medicinal and toilet, 2,895; 2,708; chemical, 934; 913; stocks, 13,415; 14,172.




SURVEY OF CURRENT BUSINESS

May 1956

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
March
BUSINESS STATISTICS

S-39

1955
April

May

June

July

1956

August

Septem- October Novem- December
^ ber
ber

January

February

March

April

TEXTILE PRODUCTS
APPAREL
Hosiery, shipments. _
thous. of dozen pairs. .
Men's apparel, cuttingsri
Tailored garments:
Suits
thous of units
Overcoats and topcoats ._
do. _.
Trousers (separate), dress and sport
do
Shirts (woven fabrics), dress and sport
thous. of doz. Work clothing:
Dungarees and waistband overalls
do
Shirts
_
do .
Women's, misses', juniors' outerwear, cuttings:
Coats
_.
thous. of units. _
Dresses
do
Suits
do
Waists, blouses, and shirts
-thous. of doz.-

' 14, 200

12, 001

10, 713

12, 585

10,260

13, 674

14, 024

14, 236

14, 463

12, 198

12 713

13,291

12, 713

i 2, 065
1335
1
5, 940

1,636
372
5,856

1,816
496
5,328

1 1, 945
i 550
1
5, 520

1 004
292
3 696

1,856
564
5,088

1 1, 900
1605
i 5 640

1 684
400
4 944

1 716
340
5 424

1 1 945
1
335
i 5 160

1 876
272
5 280

1 860
288
5 664

i 2 285
i 410
i 5 940

i 2, 225

1,908

1,744

1 1, 865

i 1, 910

1,856

1,864

1 1, 890

1,924

2,060

i 2, 265

1435
1415

416
360

424
360

424
384

372
376

i 335
i 390

328
408

380
416

i 345
1
450

2,896
28, 070
1,846
1,446

1,146
29 459
880
1,358

887
28 912
782
1,280

1 985
18 589
1 640
789

2 384
22 230
l'gi6
1 063

2 521
24 189
1*663
1,115

2 527
26 203
1 165
1,167

1,356

1,708

425
1410

304
324

452
360

1,839
24 548
1,040
1,286

2 170
17 136
1 137
970

2,697
22 950
1,424
1,236

2 442
21 188
930
1,055

2,564
19 997
994
1,084

2 684
20 607
l'449
1,092

313

1 388

4 815

9 553

13 052

717, 227 i 874,837

737, 056

X

1

455
i 400

COTTON
Cotton (exclusive of linters) :
Production:
Qinnings§
thous. of running bales
Crop estimate, equivalent 500-lb. bales
thous. of bales ._
Consumption^
bales
Stocks in the United States, end of month, total^A
thous. of bales _ _
Domestic cotton, total.
do
On farms and in transit
do
Public storage and compresses
do
Consuming establishments
do _.
Foreign cotton, total
do
Exports©
_. . _ _..bales
Imports
do
Prices (farm), American upland.
_ cents per Ib
Prices, wholesale, middling, l$it", average 14 markets
cents per Ib
Cotton linters :f
Consumption
thous. of bales
Production
do
Stocks, end of month
__
do

4 13, 618
4 13, 696
1
893,238 695. 188

704,029 1849,413

565,834

2

13 704

741 447 1 855, 447

3

14, 380

r5i4 542

746, 996

760 590 igig 396

' 5 14 721

' 13, 576 ' 12, 664 ' 11, 553 ' 11, 205 ' 24, 662 ' 23, 702 ' 22, 786 ' 21, 929 ' 20, 938 ' 20, 133 ' 19, 189 18. 138
' 14, 423 r 13, 510 ' 12,594 ' 11, 482 ' 11, 140 ' 24, 601 r 23, 655 ' 22, 726 ' 21 872' 20, 878 ' 20, 072 ' 19 128 18 082
r
'756
' 541
' 302
' 481
220 ' 13 699' 10 696 ' 6 880 r 3 768 ' 1 646 ' 1 131 ' 905
946
15 439
' 11,834 ' 11, 196 ' 10, 435 ' 9, 704 ' 9, 557 9 729
11 782
17, 263
14 515
17 561
16 581
16 498
' 1, 833 ' 1, 773 ' 1, 679 ' 1,476 ' 1, 363 1,173
1,331
1,678
1 523
1,671
1,177
1 725
1 697
'66
'58
'70
'65
61
' 71
59
61
47
60
56
56
61
369, 241 239, 330 230, 690 280, 923
77, 805
58, 855 60, 438 '116,409 191, 536 137 449 158, 741
99 392
28, 374
16, 594
18 131
7,379
9,049
12, 493
12, 896
10 516
9 875
19 234
23 730
18 295
31.9
31.9
32.1
31.4
31.5
32.7
30.7
33.8
32.8
31.2
31 6
31 0
32 4
r 14, 481

33.5
r

33.4

33.7

33.8

33.7

33.6

33.0

32.9

33 6

33 7

34.1

35 2

U37
i 140
1, 797

135
102
1,738

142
87
1,666

i 129
157
1,559

127
51
1,475

141
67
1,373

i 147
i 154
1,353

157
216
1,397

155
235
1,418

i 142
i 206
1 431

156
207
1,434

153
187
1,500

i 152
1
149
1 459

47, 886
8,481

49, 821
9,492

2,455
41, 467
9,302

37, 192
9,435

37, 097
9,922

2,405
42, 051
12, 755

49, 885
15, 750

42, 469
16, 478

2,636
38, 430
15, 871

43, 328
24, 367

45, 106
21 371

27.36
34.9
16.0
16.5

26.59
34.9
15.8
16.3

26.34
34.9
16.0
16.1

26.65
34.9
16.3
16.1

27.21
35.4
16.3
16.9

28.91
36.4
16.4
17.3

' 29.78
36.4
16.6
17.5

30.24
36.4
17.5
17.8

31.08
36.4
18.0
18.1

31.26
36.4
18.0
18.3

30.68
36.4
18 0
18.3

29 88
p36 4
p 17 0
p 18 3

.664
.945

.663
.945

.665
.949

.668
.955

.676
.968

.693
.978

.696
.984

.701
.984

.708
.988

.708
.996

.713
1.000

p. 713
p 998

19, 840
19, 824
18, 335
18, 302
9,678 i 11, 789
484
481
8,937 i 10, 867
1 132. 3
135.7

20, 708
19, 147
8,234
433
7,546
115.7

20, 735
20, 799
19, 136
19, 243
10, 088 i 12, 287
504
455
9,293 i 11, 363
141.4 i 138. 0

20, 883
19, 302
10, 290
515
9,512
144.9

20, 988
20, 902
19, 440
19, 352
10, 150 i 11, 848
474
508
9,393 i 10, 992
143 0 i 133. 3

20, 990
19, 399
10, 315
516
9,577
146.6

32.5

35 5

35.5

COTTON MANUFACTURES
Cotton cloth:
Cotton broad-woven goods over 12 inches in width,
2,594
production, quarterly
mil. of linear yards
Exports
thous. of sq. yd. . 64, 552
10, 940
Imports 9
do
Prices, wholesale:
27.78
Mill margins
__ _ __
. .cents per Ib
34.9
Denim, white back, 28-inch, 8 oz/yd.cents per yd..
16.3
Print cloth, 39-inch, 68 x 72
do
16.6
Sheeting, class B, 40-inch, 48 x 44-48.
do._Cotton yarn, natural stock, on cones or tubes:
Prices, wholesale, f. o. b. mill:
.665
20/2, carded, weaving
dol. per lb_.
.947
36/2, combed, knitting
do
Spindle activity (cotton system spindles) :J
Active spindles, last working day, total
.thous. ' 20, 901
Consurning 100 percent cotton, _ _
do. _ _ 19, 365
Spindle hours operated, all fibers, total__mil. of hr_. ' U2, 404
496
Average per working day
do
Consuming 100 percent cotton
_. _ ._ do ._ i 11,485
1 138. 5
Operations as percent of capacity c?

20, 674
19, 160
9,594
488
8,854
134.6

29 59

.........

20, 983
20, 888
19, 428 1 19 350
10, 347
12, 562
517
503
9 633 i 11 740
147 2 i 142 8

RAYON AND ACETATE AND MFS.
Filament yarn and staple:
Shipments, domestic, producers':
83.9
Filament yarn
mil. of Ib
39.1
Staple (incl. tow)
_ do...
Stocks, producers', end of month:
44.3
Filament yarn
_
do
22.2
Staple (incl. tow)
do
17, 734
Imports 9
thous of Ib
Prices, wholesale, viscose, f. o. b. shipping point:
.830
Filament, 150 denier..
dol. per lb_.
.336
Staple, 1.5 denier O _ _
__do _
Rayon and acetate broad-woven goods, production,
quarterly total
thous of linear yards
478, 901

77.5
33.1

70.5
30.1

69.9
30.6

65.4
27.5

72.7
33.2

70.3
29.8

70.8
30.5

69 9
35.9

70.8
31.2

78.0
35.9

r 70 4
'33 6

39.3
22.1
18 604

40.1
21.0
18 800

43.5
20.5
17 904

46.3
25.6
17 473

44.9
24.5
17, 029

47.6
25.8
13 057

48.6
28.9
11 924

49. 5
29 1
9,871

52.2
34.2
9 432

49.0
34.2
9,174

11 145

.830
.336

.830
.336

.830
.336

.830
.336

.830
.336

.830
.336

.830
.336

.830
.326

.830
.326

.830
.326

.863
.326

454 082

469, 853

46 1
r 36 2

66 3
' 33 9

58 1
26.6

49 5
40 1

55 0
47 5

p. 863
P 316

478 920

SILK

Silk, raw:
Imports
thous of Ib
Price, wholesale, white, Japanese, 20/22 denier, 87%
(AA), f. o. b. warehouse
dol. per Ib..

879

585

658

492

505

997

1 211

1,058

1,259

1 098

1 747

489

4.46

4.56

4.58

4.60

4.76

4.85

4.75

4.58

4.43

4.42

4.41

4.36

P4.36

WOOL
Consumption, mill (clean basis) :^
23, 142 1 25, 896 22, 990
22, 643 1 26, 005 24, 956 '25 590 1 29 398
20, 682
23, 495 i 27, 041
Apparel class
thous. of Ib ' 1 27, 083 22, 722
10, 509 i 13, 242
11, 890
11, 566 1 13, 866 12, 851 ' 13, 402 i 14, 351
'U2,705
10, 336 i 11, 260
6,637
10, 217
Carpet class.
do
r
2
4
Revised.
p Preliminary.
i Data cover a 5-week period.
Ginnings to December 13. 3 Ginnings to January 16.
Total ginnings of 1954 crop.
5
Total ginnings of 1955 crop.
KData for March, June, September, and December 1955 and March 1956 cover 5-week periods and for other months, 4 weeks; cotton stocks and number of active spindles are for end of
period covered.
ARevisions for August 1954-February 1955 are as follows (thous. bales): Total stocks—22,121; 21,122; 20,083; 19,008; 17,731; 16,709; 15,708; domestic cotton, total—22,043; 21,051; 20,019; 18,950;
17,677; 16,659; 15,653; on farms, etc.—12,652; 8,984; 5,844; 3,413; 2,023; 1,372; 1,010.
§Total ginnings to end of month indicated.
©Revisions (bales): September 1954,199,318; January 1955, 334,044.
9 Revisions for 1954 (units as above): Cotton cloth—November, 10,827; December, 9,985; rayon—March, 2,269; December, 12,697.
cf The operation rate is calculated on a 5-day, 80-hour week without any adjustment for holidays.
©Quotations beginning August 1955 not strictly comparable with earlier data.




SUEVEY OF CUERENT BUSINESS

S-40

Unless otherwise stated, statistics through 1954 and
descriptive notes are shown in the 1955 edition of
March
BUSINESS STATISTICS

May 1956
1956

1955

April

May

June

July

August Septem- October Novem- December
ber
ber

January

February

March

April

TEXTILE PRODUCTS—Continued
WOOL AND MANUFACTURES— Continued
Wool imports, clean content
thous. oflb__
Apparel class (dutiable), clean content
do
Wool 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. per lb__
Knitting yarn, worsted, 2/20s-50s/56s, Bradford system,
wholesale price
dol. per lb__
Woolen and worsted woven goods, except woven
felts:
Production, quarterly total
thous. of lin. yd_
Apparel fabrics, total
do
Government orders
do
Other than Government orders, total
do
Men's and boys'
do
Women's and children's
do

26, 938
13, 071

23, 703
11, 565

23, 578
11, 688

22,999
10, 331

22, 876
9,517

24, 012
9,855

19, 404
7,729

21, 117
8 341

17, 943
9 588

17,602
8 754

30, 019
13, 157

29,852
12, 767

1.535
1.138

1.495
1.095

1.475
1.072

1.435
1.066

1.425
1.086

1. 385
1.069

1. 325
1.020

1.300
.999

1.275
.992

1.298
1.029

1.316
1.064

1.321
1.078

1.475

1.475

1.475

1.475

1.475

1.395

1.275

1.262

1.225

1.225

1.300

1.916

1.879

1.867

1.867

1.867

1.844

1.844

1.819

1.819

1.819

1.844

73, 764
69, 564
1,105
68, 459
36, 377
32, 082

84, 266
80, 296
2,769
77, 527
37, 856
39, 671

75, 893
72,817
1,434
71, 383
32, 256
39, 127

76, 647
72, 833
1,147
71, 686
33, 599
38, 087

Nonapparel fabrics total
do
Blanketing
do
Other nonapparel fabrics
do
Prices, wholesale, suiting, f. o. b. mill:
Flannel men's and boys'
1947-49= 100__
Gabardine, women's and children's
do- --

4,200
2,815
1,385

3,970
2,969
1,001

3 076
2,111
965

3 814
2,689
1,125

112.9
97.3

' 112. 1
97.3

112 1
97.3

537

614
1, 265. 4
117

656
1, 200. 4

126

690, 253
253
242
591, 032
569, 846
98, 968
83, 752

663, 586
278
274
560, 924
536, 680
102, 384
83, 752

689, 984 1 647, 400
434
1360
405
583, 169 1 548, 300
554, 761
106, 381 i 98, 700
86, 998

32, 645
18, 742
13, 903

40, 827
23, 607
17, 220

112.1
97.3

112.1
97.3

112.9
97.3

112.9
97.3

112.9
97.3

112.9
97.3

112.9
97.3

112.9
97.3

112.9
97.3

112.9
97.3

1.298
1.046

1.280
1.005

1.325

1.325

1 325

^.869

P 1. 856

TRANSPORTATION EQUIPMENT
AIRCRAFT
Civil aircraft (complete) shipments
Airframe weight
Exportscf

number
thous. of Ib
number

r480

1,033. 2
166

453

765.2

111

492

1,142. 5
185

543

1,233. 4

175

358

352

201

249
792.1
132

702.4

969.7

132

353

348

485

652.6

663.0

454.3
116

110

799,092

188

985.6

MOTOR VEHICLES
Factory sales, total
Coaches, total
Domestic
Passenger cars, total
Domestic
Trucks, total
Domestic

number
do
do
do
do
do_._
do

894, 597
325
267
791, 280
765, 663
102, 992
86, 060

881, 840
519
501
753, 434
727, 907
127, 887
110, 176

849, 393
313
266
721, 139
697, 471
127, 941
108, 362

767, 182
309
237
647, 658
629, 185
119, 215
101, 625

768, 621
296
256
658, 736
643, 402
109, 589
93, 739

716, 163
434
410
620, 610
602, 959
95, 119
80, 077

559, 962
223
198
467, 845
459, 073
91, 894
76, 851

601, 256
469
385
505, 177
491, 893
95, 610
81, 390

860, 800
359
340
745, 993
720, 667
114, 448
98, 345

37, 208
24, 136
13, 072

40, 733
22, 928
17, 805

35, 389
19, 439

33, 457
17, 381
16, 076

30, 863
15, 181
15, 682

30, 381
15, 207
15, 174

23, 198

23, 209

8,759

37,876

13, 429

14, 450

30, 810
18, 070
12, 740

6,360
6,068
3,704

6,336
6,034
3,843

7,368
7,082

5,989
5,799
3,593

7,050
4,483

7,161

6,948
6,740

7,151
6,941

6,909

3,739

Exports total 0
Passenger cars
Trucks and buses0

do
do _
do

Truck trailers, production, total
Complete trailers
Vans
Trailer chassis

do
do
do
do

6,402
262

292

302

4,491
286

Registrations:
New passenger cars
New commercial cars

do
do

636, 534
64, 732

651, 855
79, 071

661, 304
82, 086

681, 372
90, 005

647, 245
84, 413

3, 133

3,075

4,320
2,675
2,438

3,057

2,968

6,140

15,950

190

7, 254

9,769

6,943
4,299

410
406

695,096
667,974
103,586
86, 921

22, 481

15,395

6,424
6,207

4,438

6,233
6,085
3,824

210

246

148

3,815
217

6, 663

6,842
6,464
3,779

218

4,241
208

658, 964
92, 079

654, 532
89, 924

576, 045
87, 262

509, 155
75, 756

630, 488
93, 733

431, 648
66, 141

447, 542
65, 478

545, 234
77, 220

5,029

3,965
2,392

4,233
2,856
2,455

3,845
2,749

3,814
2, 714

4,883

2,696

5,989
4,366
4,326

205

4,727

387

RAILWAY EQUIPMENT
American Eailway Car Institute:
Freight cars:
Shipments, total
number
Equipment manufacturers, total
do
Domestic
do
Railroad shops, domestic
do
Passenger cars, equipment manufacturers:
Orders unfilled, end of month, total
do
Domestic
_ _ _ _ _
do
Shipments, total
_
_
do__
Domestic
do

765

1,989
1,664
1,086

1,645

1, 732
1,690
1,325

1,377

2,331
1,096

1,100

4,199
2,981
2,981
1,218

953
918
45
27

920
896
36
25

1,024
1,007
49
41

1,001
982
55
48

993
977
39
33

952
937
45
42

594
583
355
350

433
424
206
204

399
390
38
38

860
851
39
39

903
834
42
42

464
443
53
53

812
784
54
54

1,723

1,720

1,717

1,709

1,704

1,702

1,702

1,700

1,694

1,696

1,696

1,697

114
6.6
18, 193

110
6.4
17, 030

11, 958

11, 440

103
6.0
27, 848
15, 459
12, 389

96
5.6
44, 622
23, 613
21, 009

94
5.5
50, 087
27, 201
22, 886

86
5.1
50, 642
28, 799
21, 843

80
4.7
57, 410
31, 294
26, 116

75
4.4
103, 685
46, 947
56, 738

71
4.2
135, 293
62, 996
72, 297

76
4.5
181, 331
60, 112
71, 219

76
4.5
127, 030
57, 644
69, 386

70
4.1
122, 095
54, 391
67, 704

1,247
16.5

1,186
16.2

1,204
16.7

1,228
17.4

1,105
16.5

1,048
16.1

1,016
16.1

1,013
16.4

997
16.8

1,074
18.6

1,069
19.2

984
18.4
859

2,368
2,068

Association of American Railroads:
Freight cars (class I), end of month :§
1,727
Number owned O
thousands
Undergoing or awaiting classified repairs
117
thousands. .
6.8
Percent of total owned,
18, 001
Orders, unfilled©
number
6,240
Equipment manufacturers
do
11, 761
Railroad shops
do
Locomotives (class I), end of month:©
Steam, undergoing or awaiting classified repairs
number. _ 1,215
15.7
Percent of total on line
Diesel-electric and electric: Orders, unfilled
428
number of power units ._
Exports of locomotives, total..

number__

6,235

5,590

1,954
1,284
1,014

3, 187
1,935
1,842

1,708
1,573

3,154
3,152
1,729

1,623

360

385

470

467

704

816

876

906

854

835

897

45

49

38

22

59

45

23

40

62

29

53

41

507
425

476
406

678
833

578
533

521
455

506
346

670
441

650
449

636
441

638
520

570
409

603
491

671
503

1,808

1,647

3,926

2,188

1,961

2,163

2,463

2,569

2,684

2,333

1,777

1,765

2,170

INDUSTRIAL TRUCKS AND TRACTORS
Trucks, electric, shipments:
Hand (motorized)*
number
Rider-type
_
_ do
Trucks and tractors, gasoline-powered, shipments*
number. r

l

Revised.
v Preliminary.
Preliminary estimate of production.
cfExports revised beginning January 1954 to include 2 types of aircraft formerly classified as "special category" and therefore excluded from the total.
©Data beginning January 1956 include exports of "used" special-purpose vehicles not included in earlier data; exports of these types averaged 26 vehicles per month in 1955. Revisions (numher): October 1954—Total, 22,216; trucks, etc., 15,859; January 1955—total, 38,743; trucks, etc., 17,073.
§ Excludes railroad-owned private refrigerator cars.
O Data beginning December 1955 reflect reclassification of reporting roads to revised I. C. C. list of Class I line-haul railroads;
comparability with earlier data, based on ownership, is affected by less than 1 percent.
*New series. Data prior to January 1955 are not available.




•INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40Pages marked S
Acids
24
Advertising
8, 9
Agricultural employment
11
Agricultural loans and foreign trade
16, 17, 21, 22
Aircraft and parts
2, 12, 13, 14, 15, 40
Airline operations
23
Alcohol, denatured and ethyl
24
Alcoholic beverages
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, 15,39
Asphalt and asphalt products
.
36
Automobiles
2, 3, 8, 9, 12, 13, 14, 15, 16, 17, 22, 40

Pages marked S
Foreclosures, real estate
8
Foreign trade indexes, shipping weight, value
by regions, countries, economic classes, arid
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 oil
35
Fuels
.
6,34,35
Furnaces
34
Furniture
2, 3, 6, 9, 10, 12, 14, 15, 17
Furs
.
,
22

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
12, 14, 15
Blowers and fans
34
Bonds, issues, prices, sales, yields
17,19, 20
Book publication
37
Brass and bronze
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

Gas, prices, customers, sales, revenues
6, 27
Gasoline
_ . 9, 36
Glass products
38
Generators and motors
34
Glycerin
24
Gold
18
Grains and products.5, 6, 22, 23, 28, 29
Grocery stores
._ _
9, 10
Gross national product
1
Gross private domestic investment _ _ .
1
Gypsum and products
.
6, 38

Cans (metal), closures, crowns
32
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, 19,22,24
Cigarettes and cigars
6, 30
Civilian employees, Federal
12
Clay products (see also Stone, clay, etc.)
6, 38
Coal
3,6,11, 13, 14, 15,22,23,34,35
Cocoa
22,29
Coffee
_ 22, 30
Coke
23,35
Commercial and industrial failures
5
Communications
11, 13, 14, 15, 19, 20, 24
Confectionery, sales ._
. __
29
Construction:
Contracts awarded
7
Costs
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
28
Cost-of-living index (see Consumer price
;
ndex)
,
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, 26, 28,30,39
Crucir oil and natural gas
3
Currency in circulation
18
Dairy products
2, 5, 6, 12, 13, 14, 15, 27
Deb'ls, bpnk
16
Debt, United States Government
17
Department stores
9,10,11,17
Deposits, bank
16, 18
Dispute s, industrial
.
13
Distilled spirits
27
Dividend payments, rates, and yields___ 1, 18, 19, 20
Drur sto.e sales
9, 10
Dv/c in?" units, new
7
ETP! ir<?, weekly and hourly
14, 15
> VJii'^ and drinking places
9,10
F >«* i nd poultry
2, 5, 29
K vK iC rower
6, 26
Electric! machinery and equipment
2,
3, 6, 12, 13, 14, 15, 19, 22,34
J«,i .1 r>1 ->vrrfnt estimates and indexes
11,12
Employment Service activities
13
Fn^incerinp construction
7, 8
II vpe -ditures, United States Government
17
Explosives
25
Expcris (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, FRASER
wheat
29
Digitized for products
Food
2,3,4,5, 6,
8, 9, 10, 12,
http://fraser.stlouisfed.org/ 13, 14, 15, 18, 22, 27, 28, 29, 30

Federal Reserve Bank of St. Louis

Hardware stores
.
— 6,9
Heating apparatus
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..
.
39
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
Imports (see also individual commodities)
21, 22
Income, personal
.
1
Income and employment tax receipts
17
Industrial production indexes
2,3
Installment credit
16, 17
Installment sales, department stores
10
Instruments and related products. 2, 3, 12, 13, 14, 15
Insulating materials
34
Insurance, life
18
Interest and money rates..
16
International transactions of the U. S
21, 22
Inventories, manufacturers' and trade
3, 4, 10
Iron and steel, crude and manufactures
2,
6,8,12, 14,15, 19,22,32,33
Kerosene..

35

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
Locomotives
40
Lubricants
36
Lumber and products
2,
3, 4, 6, 8S 9, 10, 12, 14, 15, 18, 31, 32
Machine activity, cotton
39
Machine tools
34
Machinery
2,3,4,5,6,12, 14, 15, 19,22,34
Magazine advertising
„
8
Mail-order houses, sales
11
Manufacturers' sales, inventories, orders
3, 4, 5
Manufacturing production indexes
2,3
Manufacturing production workers, employment, payrolls, hours, wages
11, 12, 13, 14, 15
Margarine
26
Meats and meat packing
2, 5, 6, 12, 13, 14, 15, 29
Medical and personal care
6
Metals
2, 3, 4, 5, 6, 11,12, 13, 14, 15, 19, 32, 33
Methanol
24
Milk
27
Minerals and mining
2, 3, 11, 13, 14, 15,19, 20
Monetary statistics
18
Money supply
18
Mortgage loans
8, 16, 18
Motor carriers
23
Motor fuel
36
Motor vehicles
6, 9, 19, 40
Motors, electrical
34
National income and product
1
National parks, visitors
24
National security
1,17
Newspaper advertising
.
8, 9
Newsprint
22,37
New York Stock Exchange, selected data
19, 20
Nonferrous metals
2, 6, 12, 14, 15, 19, 22, 33
Noninstaliment credit
17
Oats
.
28
Oil burners
34
Oils and fats, greases
6, 25, 26
Orders, new and unfilled, manufacturers'
5
Ordnance
11, 12, 14, 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
Personal saving and disposable income
1

Pages marked S
Petroleum and products
2,
3, 6, 12, 13, 14, 15, 19, 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, 19
Public utilities
.
2,6,
7, 11, 13, 14, 15, 18, 19, 20, 26, 27
Pullman Company
24
Pulp and pulpwood__
36
Pumps
34
Purchasing power of the dollar
7
Radiators and convectors
34
Radio and television
3, 6, 8, 34
Railroads
2, 11, 12, 13, 14,15,19,20,23,40
Railways (local) and bus lines
11, 13, 14, 15, 23
Rayon and rayon manufactures
39
Real estate
8, 16, 18, 19
Receipts, United States Government
17
Recreation
6
Refrigeration appliances, output
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, 17
Rice
28
Roofing and siding, asphalt
36
Rubber (natural, synthetic, and reclaimed),
tires and tubes,_.
6, 22,37,38
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
1,9, 11, 13, 14, 15
Sewer pipe, clay
38
Sheep and lambs
29
Ship and boat building
12, 13, 14, 15
Shoes and other footwear^.. 6, 9, 10, 12, 13, 14, 15, 31
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)
_
11
Stocks, dividends, prices, sales, yields, listings.
20
Stone and earth minerals
3
Stone, clay, and glass products
2,
3,4, 12, 14, 15, 19,38
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, 20, 24
Television and radio
3, 6, 8, 34
Textiles
2, 3,
4, 6, 12, 13, 14, 15, 18, 22, 39, 40
Tile
38
Tin
22, 33
Tires and inner tubes
6, 9, 10, 12, 13, 14, 15, 38
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 equipment
2,
3, 4, 5, 6, 9, 11, 12, 13, 14, 15, 19, 23, 40
Travel
24
Truck trailers
40
Trucks
2,40

Unemployment and compensation
11,13
United States Government bonds
16, 18, 19, 20
United States Government
finance
17
Utilities
2,
6,7, 11, 13, 14, 15, 19, 20,26, 27
Vacuum cleaners
Variety stores
Vegetable oils
Vegetables and fruits
Vessels cleared in foreign trade
Veterans' benefits

34
_ 9, 10
25, 26
5, 6, 22, 28
23
13, 17

Wages and salaries
1,14,15
Washers
34
Water heaters
34
Wax
36
Wheat and wheat
flour
28,29
Wholesale price indexes
6
Wholesale trade
3, 5, 11, 13, 14, 15
Wood pulp
36
Wool and wool manufactures
2,5,6, 22, 39, 40
Zinc.

33

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