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SURVEY OF CURRENT BUSINESS
MAY 1961
VOL. 41, NO. 5
U.S. Department of Commerce
Luther H. Hodges
Secretary
Office of Business Economics
M. Joseph Meehan
Director
Contents
BUSINESS REVIEW
Summary
PAGE
1
Business advance—Income flow rises as output improves—Durable goods up from low—Prices steady—Sharp cut in adverse
balance of international payments
Extent of Recovery in Housing
Louis J. Paradise
Managing Director
Murray F. Foss
Editor
3
Billy Jo Dawkins
Graphics
Multiple dwellings larger part of total—Interest rates and financing charges
NATIONAL INCOME AND PRODUCT—
Review of First Quarter of 1961
STAFF CONTRIBUTORS
TO THIS ISSUE
5
Personal Buying Mixed . . * . . « . . . . « . . «
K. Celeste Stoke
Statistics Editor
Business Review and Feature:
L. Jay Atkinson
6
Investment Off
6
National Income and Product:
Government and Export Demand Strong
7
Robert 8. Bretzfelder
National Income
«,
e
..
9
ARTICLES
Size Distribution of Personal Income, 1957-60
Role of Capital Gains, Earnings, and Supplementary
Incomes
Articles:
Maurice Liebenberg
Jeannette M. Fitzwilliams
Distribution Effects of Capital Gains and Losses
12
Clement Winston
Anne Novick Probst
Reba L. Osborne
Earnings Distributions and Related Incomes
15
John A. Gorman
Retail Trade and Use of Services
Regional Patterns of Consumer Purchasing
Regional Distribution of Sales
,
11
22
23
Trade and Services Outlays Related to Income
25
Regional Differences by Kinds of Business
27
Debt Rise in 1960
Pace Slackened As Business Turned Down
Short-Term Requirements . . .
29
29
Use of Long-Term Funds.
31
Position of Lenders
31
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OHapel 7-0311.
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JAckson 2-4121.
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Pittsburgh 22, Pa., 107 Sixth St. GRant 1-5370.
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CApital 6-3361.
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Richmond 19, Va., Room 309 Parcel Post Bldg. Milton
4-9471.
St. Louis 1, Mo., 910 New Federal Bldg. MAin 1-8100.
Salt Lake City 1, Utah, 222 SW. Temple St. EMpire
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YUkon 6-3111.
Savannah, Ga., 235 U.S. Courthouse and P 0. Bldg.
ADams 2-4755.
Seattle 4, Wash., 809 Federal Office Bldg., 909 First Ave.
Mutual 2-3300.
By the Office of Business Economics
BUSINESS activity in April showed
clear signs of recovery from the midwinter low. March had provided evidence of a firming in income, demand
and output, and in April there were
further indications not merely of stability but of increases, and few cases of
decrease. Industrial production, personal income arising from current
production, and employment all advanced. The most noteworthy development was the improvement in the
durable goods sector, which had been in
the forefront of the previous decline
and which still remains well under the
highs of last year.
Personal income, seasonally adjusted,
rose for the second successive month,
reaching a seasonally adjusted annual
rate of $410 billion in April, a $4 billion
rise over the February low point. While
the total increase over March was not
large, there was a sizable pickup of $2
billion at an annual rate in income from
production. Manufacturing payrolls
expanded markedly and smaller payroll
increases occurred in several other major industries.
These gains more than offset the drop
in transfer payments from March,
which had been temporarily increased
by the bunching of payments for Veterans Insurance dividend refunds. April
transfer payments were little affected
by the temporary extended unemployment compensation program, but the
new law in May will begin to provide
benefits to those who are still unemployed and are eligible for assistance.
Business turns upward—rise in
durable goods
There are several forces affecting the
turnaround in durable goods activity,
two of the most important being the
rise in automobile demand and output
this spring, and the relative improvement in the position of durable goods
manufacturers' raw materials inventories. These have reinforced the
expansionary effects of the increase in
defense ordering, arid the pickup in
construction activity with the advent
of better weather.
The increase in automobile sales in
March and April over the very low
rates in the first 2 months of 1961 was
followed by an upturn in automobile
production in April. Manufacturers
assembled 450,000 passenger vehicles
during the month, a gain of more than
one-fourth on a seasonally adjusted
basis and the best rate achieved by the
DURABLE GOODS INDUSTRIES EXPERIENCED MAJOR
IMPACT OF 1960-61 BUSINESS DECLINE
Some Improvement From Low Midwinter Demand
Durable Goods Sales and Orders Have Risen
MANUFACTURERS
Liquidation of Metal Users' Raw Materials
Inventories Has Slowed
6\
Auto Sales and Production
Have Picked Up
Stee! Companies' Orders Have ImprovedProduction Recovering From Low
1,500
100 £
:= 1,000
80 |
60
1960
1961
Monthly, Seasonally Adjusted
>c. a OBE
U. S. Department of Commerce, Office of Busin«
61-5-1
industry since last December. According to industry reports, output for the
second quarter is currently scheduled
to be 30 percent over the first; the typical seasonal movement over this period
has been a decrease. Compared with
a year ago tins output would represent
a reduction of one-fifth.
Raw materials inventories of metal
users are apparently in a better condition relative to sales than they had been
late in 1960. While the latest figures
(March) showed further liquidation, it
is evident, as the chart shows, that the
most recent decreases are smaller than
they were late last fall and winter, and
that material requirements for current
output are coming from new purchases
to a greater extent.
These developments are reflected in
the position of the steel industry, where.
orders have been rising irregularly since
the start of the year, while production
has been advancing fairly steadily.
April steel output registered a gain of
more than 10 percent over March.
Indications for early May pointed to a
continuation in the rise. The April
performance put the industry 20 percent
below the corresponding month a year
ago, and current operations were estimated at roughly two-thirds of capacity.
Construction in April showed a better
than seasonal rise, with seasonally
adjusted outlays for private construction making the best showing since
December. Spending for private nonresidential types continued the slight
upward trend that has been in progress
for more than 2 }^ears, the main strength
here being in public utilities and institutional construction. Residential construction is now picking up, but as
pointed out in the following review, activity continues svell below a year ago
and Government mortgage underwriting
is still relatively low.
SURVEY OF CURRENT BUSINESS
Employment up, unemployment
still high
Rising output brought an increase in
the number of persons employed and
some lengthening of the workweek, but
there was little improvement reported
in the rate of total unemployment.
For the fifth month in a row the seasonally adjusted unemployment rate has
continued to hover in the neighborhood
of just under 7 percent of the labor
force.
Employment
in nonagricultural
establishments in April, after seasonal
adjustment, rose for the first time since
the middle of 1960, with manufacturing
registering a modest pickup. Small
rises also occurred in most other industries. The April advance brought
employment to 52 million, about 1
million less than in the corresponding
month of 1960.
The rise in hours of work in manufacturing, which has been underway since
the start of the year, extended into
April wrhen the average was about the
same as in April of last year. The rise
over the previous month occurred in
both durable and nondurable goods and
was marked in the case of durables,
where longer hours extended over a
broad range of industries. Average
weekly overtime hours of production
workers also increased a little, for the
first time this year. The relatively
better showing in hours as compared
with employment is typical of the early
stages of a recovery.
May 1901
January, though still one-sixth below
year-ago figures. Other major kinds of
business have also shared in the sales
improvement this spring.
Prices steady
Wholesale prices for other than farm
and food products leveled out in the
final quarter of the year and have shown
stability on an overall basis in the first
4 months of this year. A significant current development has been the fairly
marked rise that has occurred in the
Retail sales movements
prices of industrial crude materials.
Retail sales in the March-April pe- Prices of crude nonfood materials (exriod were about 1 percent above those in cluding fuel) used by manufacturers in
the first two months of the year, after March were 3 percent above December,
seasonal adjustment, and 3 percent be- but still 5 percent below the peak
low a year ago. With unit sales of do- reached in June 1959. This group of
mestically produced cars running at a cyclically sensitive commodities, which
seasonally adjusted annual rate of bet- had fallen fairly sharply through 1960
ter than 5 million in March and April, began to rise at the beginning of this
dollar sales of retail automotive dealers year, reflecting mainly higher prices of
have shown a pronounced gain from last steel scrap. As industrial firms have
winter's low rates; April sales were more found raw materials inventories in betthan 5 percent above the low point last ter balance with consumption, purchasing has picked up and recent months
have seen price increases for a broader
PERSONAL INCOME
range of commodities.
Transfer Incomes Helped to Maintain Consumer Buying
Prices received by farmers showed a
Power as Receipts From Current Output Fell Off
generally rising trend through 1960 and
Billien $
continued to move upward very slightly
in the first 2 months of 1961. Some sof500
tening in prices was evident in March
and April, with prices in the later month
off about 2 percent from February and
Personal Income
about 1 percent from those of a year
400
nsfer Payments \\ /\
ago. Crop prices have moved seasonally
higher but feed grains in April
nds, Interest, Rent •;!;:
showed a contraseasonal decline and
prices of livestock and products have
300
eased off from the February highs.
Consumer prices as measured by the
Consumer Price Index have changed
but little on the average over the past
half year and in March were about
200
1 percent higher than a year ago.
Personal Consumption
Expenditures
Food prices, which rose fairly steadily
through 1960, leveled off around the
end of last year at a point close to the
H 100 peak reached around mid-1958. Commodity prices oilier than food were
affected by reduced demand during the
recession. Durable goods edged down
for more than a year while nondurable
1957
1958
1959
1960 1961
goods have reflected some price cutting
I960
Quarterly
Quarterly
since last fall. Prices of services, on the
Seasonally Adjusted, at Annual Rates
Seasonally Adjusted, at Annual Rates
other hand, have continued to rise with
U. S. Department of Commerce, Office of Business Econor
little evidence of slowing down.
x
SURVEY OF CURRENT BUSINESS
Mav 1061
year to slightly over $1 billion at a housing has been attributable in conseasonally adjusted annual rate, accord- siderable part to a rise in such funds
ing to preliminary data. This com- on terms that were attractive to
pares with the fourth quarter 1960 purchasers as well as to lenders.
The general setting for the earlier
adverse balance—even without an exceptionally large direct investment postwar upturns in housing activity
transaction and our subscription to the was a substantial, if diminishing,
International Development Associa- unsatisfied backlog of housing demand.
tion—of nearly $4 billion at an annual Although the size of this backlog has
not been measured, it is apparent that
rate.
The improvement was to some extent it has been greatly reduced; a sizable
the result of slightly higher exports and rise in the vacancy rate for rental
somewhat lower imports, but most of housing in the past several years, from
it apparently was due to a decline in the around 5 percent in 1955 to 8 percent
outflow of U.S. capital and a resump- early in 1961, is certainly suggestive
Improvement in balance of payments tion of foreign investments in U.S. of such a trend. On the other hand,
corporate securities. The usual quar- that it may not have disappeared
The adverse balance in our inter- terly analysis on the basis of the regular completely, is indicated by the connational interchange of goods and comprehensive material will be given in tinued rise in rents, though at a reduced
rate over ihe past few years.
services has been sharply cut so far this the June SURVEY.
Clothing prices moved downward in
the final quarter of 1960 and the opening months of 1961, though some firming was evident in March with the
introduction of spring lines. Prices of
new cars have been under the pressure
from high stocks in relation to demand.
Used car prices have fluctuated erratically but, after a decline of about 15
percent, have recently experienced a
firming trend. Prices of durable goods
other than automobiles have continued
to move down slightly this year, as price
cutting on appliances has continued.
Timing relation to GNP
Residential Construction and Financing
.HOUSING activity as noted in the
preceding summary has shown some
advance in recent months from the
yearend low. The total value of work
put in place decreased through February on a seasonally adjusted basis,
but outlays in March and April rose,
reflecting an increase in starts since the
first of the year. Private nonfarm
housing starts in the first quarter,
seasonally adjusted, averaged about
1.15 million units (animal rate), as compared with the 1960 total of over 1.2
million and the 1959 figure of 1.5
million.
FHA-VA applications for new housing appraisal or guarantee, seasonally
adjusted, reached a low point around
the third quarter of 1960 and have increased very little since then.
One of the significant features of
recent housing construction is the relatively greater role of multi-family units.
The stronger phase in multi-family
housing developed in the 1958-59 general expansion in housing, when the
proportion of such starts rose to around
one-fifth, well above the preceding few
years. Rental housing had been built
at a low rate for several years, following
the termination in 1950 of special FHA
financing provisions (Section 608), and
showed no expansion during the 1954
55 housin£
boom.
After the 1959 expansion, apartment
construction showed less decline in 1960
than 1-family housing. Similarly, the
recent pickup has been more prominent
in multi-family construction, and the
proportion of such units to the total has
now risen to around one-fourth.
An influence favorable for home
construction in the past several months
has been the increased availablity of
mortgage funds and somewhat lower
interest rates, though the reduction in
rates from the high in early 1960 has
not been marked. In other recessionary periods, the resurgence in
The accompanying chart illustrates
how the upturns in housing have
developed during periods of reduced
economic activity, as measured by
GNP in constant dollars.
In the current cycle housing starts
declined irregularly from around the
spring of 1959 through 1960, reaching
its lowest rate at yearend. FHA and
VA applications reached a low somewhat earlier than starts—in the third
quarter of 1960—and have since risen
a bit.
In both the 1954 and 1958 recessions,
housing led the subsequent advance
in total economic activity, with the
turnup in 1954 a little earlier in.
relation to GNP than was the case in
Table 1.—Mortgage Debt, 1- to 4-Family Nonfarm Homes by Type of Lender
(Billions of dollars)
Financial institutions
Year
Total
Total
Sa vi rigs
associations
Life
Mutual
insurance savings
combanks
panies
Other
Federal
Commercial
banks
Individualsand
others
1950
45 2
35.4
13.1
8.5
4.3
9.5
9.8
1955
88 2
73.8
30.0
17.7
11.1
15.1
14.4
99. 0
107. 6
117.7
130.9
141.8
83.4
89.9
98.5
109.3
118.6
34. 0
38.0
42.9
50.0
55.9
20.1
21.4
22,4
23.6
25.1
13.0
14.1
15.6
16.9
18.4
16.2
16.4
17.6
19.2
19.3
15.7
17.7
19.2
21.6
23.2
2.9
3.8
3.6
4.9
5.5
12.8
13.9
15.6
16.7
17.7
1950-55
43.0
38.4
16. 9
9.2
6.8
5.6
4.6
1.1
3.6
1955-60
53.6
44.8
25.9
7.4
7.3
4.2
8.8
3.1
5.7
1956
1957
1958
1959
1960 "
1.3
8.4
12.0
Change from:
p.
Preliminary.
Source: Federal Home Loan Bank Board.
SURVEY OF CURRENT BUSINESS
May 1901
1958 (although this is partly a reflection the upturn quickened and GNP downward from a cyclical peak last
of the quicker upturn in GNP in 1958). registered the first sizable advance in summer but the anticipated decline
is smaller than in 1954 and 1958.
Thus, the low point in starts as the recovery.
Parti}7 because of international balwell as in FHA-VA new home applicaChanges in demand for funds
ance of payment considerations, the
tions in the third quarter of 1953 was
One of the important differences steps taken b}^ monetary authorities to
only one quarter after the peak reached
between the 1960-61 recession and the bring about credit ease have been more
in GNP.
In the shorter downturn in 1957-58, two preceding ones, is the more limited restrained than in earlier recessions.
the low point in housing starts coincided letup in private nonhousing investment Thus, the short-term rate was 1 percent
with the low in GNP in the first and the current advance in public in 1954 and 1958 but has been around
quarter of 1958. However, FHA-VA construction. The significance here is 2 percent this time. As indicated in
applications reached their low in the that aside from some direct resource the accompanying debt article, the Govfinal quarter of 1957, increasing competition with housing, these invest- ernment has borrowed more in the
moderately over the next few months ments compete with housing in the use long-term market than in preceding
periods of depressed business activity.
and then sharply, with the turnaround of funds.
In the past periods of reduced ecoNonresidential construction advanced
in GNP and the April 1 enactment of
the 1958 Housing Act. The first large last year and recent estimates have nomic activity the attractiveness of
rise in housing starts occurred in the shown a continued strong trend. Plant home mortgages as an investment outthird quarter of 1958 as the pace of and equipment investment has moved let for lenders has increased as yields on
nonmortgage loans have declined relaNEW HOUSING WAS WEAK IN 1960tive to those on residential mortgages.
This
changing yield differential in favor
SOME IMPROVEMENT FROM YEAREND LOW
of mortgages has also occurred recently
FHA-VA Applications Show but Slight Recovery
though not quite to the same extent as
previously, starting from a higher level,
Billions of 1954 $
Thousand Units
and banks and insurance companies
Quarterly, Seasonally Adjusted, at Annual Rates
thus far have not made a shift into
500
mortgage
loans.
Real Gross National Product
(left scale)
Recent tendencies
400
2,000
New Series
Private Nonfarm Housing Starts
(right sc
300
1,500
1,000
500
Long-Term Interest Rates Have Eased in the Past Year
but Are Still Close to Postwar High
Percent Per Annum
Rates FHA Insured Loans
(Quarterly)
Yields on FHA 25 Year Maturities
1953
1954
U. S. Department of Commerce,
1955
1956
X
1957
1958
1959
1960
1961
Data: Census, FHA, VA, Moody's , U.S. Trees 8 OBE
Office of Business Economics
61 - 5 - 6
So far this year the Federal Government has taken some direct action
aimed at stimulating the flow of funds
into mortgages and reducing the cost
of home mortgages to home buyers.
The FNMA raised its purchase price
for mortgages on the secondary market.
Among other things the FHA reduced
the maximum rate on mortgages from
5% to 5K percent early in February.
In addition, the President sent to the
Congress an omnibus housing bill
designed to liberalize credit terms for
home purchase and rental housing, and
Congressional hearings on the provisions of the bill have been held.
In the past year home buyers have
been faced with the highest interest
rates of the postwar period. Interest
rates on mortgages reached a high point
of well over 6 percent about a year ago.
Since then, they have eased somewhat.
As shown in the accompanying chart,
the maximum rate on FHA mortgages
has been reduced from 5% to 5% percent,
and the secondary mortgage market
yield has declined to a little below 6
percent. Conventional interest rates
have shown a similar easing.
SURVEY OF CURRENT BUSINESS
May 1961
In 1954, FHA maximum rates were
4K percent and secondary market
yields were only a bit higher. In 1958,
the maximum was o% percent with
yields as much as % percent higher.
For buyers of one-family houses,
however, the other lending terms, including both downpayment and amortization period, are also important.
Although interest charges have increased, lengthening in the amortization
period has tempered the effect of higher
interest rates on monthly payments
required per $1,000 borrowed.
During most of the period since
World War II, the downpayment has
been accorded special significance as an
influence on the demand for houses.
For each of the three principal types of
loans (conventional, FHA, and VA)
downpayments have shown an irregular
downtrend. Both Government-assisted
types of loans have had quite low downpayments in recent years but they have
accounted for a declining proportion of
the new home market. Conventional
loans have also had a declining average
downpayment ratio, but at a much
higher percentage. Thus, the typical
conventional loan is still a one-third
down, 20-year loan, although longer
terms are becoming more common.
Savings and loan associations have
played an increasing role in the home
mortgage market in the past several
years, dominating conventional lending. They are the largest of the
institutional holders of mortgages, and
in recent years the rise in mortgage
debt held by savings associations has
been more than half of the total
increase in mortgage debt on one- to
four-family nonfarm homes.
National Product and Income Off in First Quarter
Decline Checked in March
. FIRMING of final demand in March
A,
after the decline in the preceding 2
months held the first-quarter GNP
close to a $500 billion annual rate, not
quite one percent under the preceding
quarter. Inventory liquidation was
stepped up somewhat in the first
quarter. Final purchases by business
and consumers eased downward, but
this weakness was largely counterbalanced by continued expansion in
government and export demands.
National income moved lower in
line with the fall in output. Reductions continued in private wage and
salary payments, which were off $2%
billion at an annual rate, and corporate
profits experienced further adverse effects of declining sales.
Personal income, at an annual rate of
$407/9 billion before personal taxes and
$357 billion after taxes, was down from
the fourth quarter to the first by only
about $1 billion, and was still above its
mid-1960 rate. The cushion provided
by a rising flow of unemployment compensation
and other social security
benefits was supplemented in the first
quarter as the payment of a National
Service Life Insurance dividend for
1961 was concentrated in March.
Personal taxes have held close to a
$50 billion rate since the spring of 1960.
Taxable income declined only slightly,
and the bases of other levies generally
continued their growth.
Since peaking out in mid-1960, gross
national product has fallen a little more
than 2 percent in real volume. The
accompanying chart compares the recent experience with that in similar
periods of two earlier recessions. From
the 1957 cyclical high, real GNP fell
nearly 5 percent to the trough, and in
1953-54 the drop amounted to nearly 4
percent. These prior recessions had
been preceded by upswings more substantial than the 1959-60 rise turned
out to be.
Strength in final markets
The recent contraction has been
limited by a greater show of strength
in final markets. Net exports in par-
ticular, which had fallen sharply in the
1957-58 decline, have moved up during
1960 and so far in 1961. Government
and consumer buying and fixed investment have also held up slightly better.
(See chart.)
REAL GNP DECLINE IN 1960-61
Has Been Slight in Comparison
With Recent Cycles
Billions of 1954 $ (ratio scale)
500
1960-61
450
400
350
300
1
0
1
I
2
I
!
4
I
I
6
1
I
8
1
1
1
I
I
1
I
1
1
-10k 12 14 16 18
Q u a r t e r s From GNPvVeak
Seasonally Adjusted, at Annual Rates
U. S. Department of Commerce, Office of Business Economics
61-5-3
SURVEY OF CURRENT BUSINESS
Major weaknesses have been in consumer durable goods buying, notably
autos, and in some parts of the construction and machinery industries; and
there has been a general reduction in
inventory holdings. All these were
reflected in the lower output of manufactured goods.
The export balance has been improving since mid-1959; exports have gone
up steadily and imports have fallen
with the reduction in domestic business
activity. In the government market,
both Federal and non-Federal buying
have moved upward since last spring.
In the same phase of the 1957-58
recession, Federal purchases had shown
little change.
Along with the marked drop in
consumer durables buying and slight
decline in nondurable goods there has
been a continued rise in services. The
same pattern was recorded in 1957-58,
but autos in particular dropped more
sharply in the earlier period.
The fall in fixed investment since a
year ago has been about equally divided
between residential construction and
business capital outlays. By comparison with the 1957-58 experience, business investment has held up well. It
should be noted, however, that the rise
of 1959-60 had not reached as high in
real terms as the one that ended during
1957; this was a factor in the incompleteness of the overall cyclical recovery
which culminated last year. In contrast to business fixed investment, residential spending has fallen markedly in
1960-61, after a sharp but abbreviated
spurt. These outlays had been stable
during the 1957-58 business contraction.
Personal income firmed late in the
winter, after having registered a
stepped-up decline as the final 1960
quarter ended. The cuts in January
and February were much less pronounced than the December drop, and
an upturn followed in March.
GNP MARKET PATTERNS IN TWO RECESSIONS
Current Drop Less Pronounced Than in 1957-58
Volume in Billions of 1954 $
1960-61: Final Purchases Hold Up, Bui
inventory Liquidation Broadens in 1st Quarter
The 1957-58 Slide Was
Steeper and . . .
May 1901
Personal Buying Mixed
Personal buying around the turn of
the year reflected sharp reductions in
several durable goods lines. Nondurables demand was well maintained,
however, and the improvement in auto
sales in March together with the continued uptrend in services limited the
overall first-quarter decline in consumer buying to $2 billion, or l/2 percent.
First-quarter purchases of autos and
parts were at a $15 billion annual rate,
$3% billion under the closing quarter of
last year. Unit sales of new cars fell
from an annual rate around 6% million
in the final quarter of 1960 to less than
5 million in the more recent period, and
production was slowed even further in
order to reduce dealer-held inventories
of cars.
Total sales of furniture and other
household durables also fell back at the
turn of the year, to a first-quarter rate
between $17 billion and $18 billion.
This was about the same pace that had
been maintained from early 1956
through late 1958, but was well under
the high of $19 billion established during 1959. The contraction since 1960
opened has been gradual.
Investment Off
GNP Declines
GNP Declines
Attributable to:
1
-20
~IO
Attributable to:
Final Purchases
Final Purchases
Change in
Business Inventories
Change in
Business Inventories
-20
0
-to
Government Purchases and Net
Exports Have Continued to Rise . .
Broader, Extending to All Major
Drop Centered in Investment and
Final Markets Except Government
Consumer Durable Goods Buying
1
1
FINAL PURCHASES OF GNP
Government
Foreign
FINAL PURCHASES OF GNP
US
Government
Foreign
^
Persona/ Consumption
[—
1
-10
i
-
Fixed Investment
I
5
0
5
Change From 2nd Qtr. I960
Peak to 1st Qtr. 1961
U. S. Department of Commerce,
Personal Consumption
Office of Business Economics
Fixed Investment
I
1
-10
-
5
0
5
Change From 3rd Qtr. 1957
Peak to 1st Qtr. 1958
A $5-billion fall in gross private domestic investment, to a first-quarter
annual rate of $61 billion, came from
reductions in business capital outlays,
a stepup in the pace of inventory liquidation, and a continued decline in residential construction.
Home building has fallen b}^ nearly a
fifth since the mid-1959 peak, though
remaining well above the 1958 low in
both volume and value. First quarter
data on housing starts and other lead
series indicate some near-term firming
in residential outlays, as noted in there view elsewhere in this issue.
Through the opening quarter of 1*961,
business capital spending has decreased
more than 5 percent from the mid-1960
high. Data from the plant and equipment survey reported in March show
that the sharpest declines occurred, as
usual, in durables manufacturing, railways and other transportation industries. Together these have accounted
for four-fifths of the total reduction in
such investment since last spring.
SURVEY OF CURRENT BUSINESS
Mar 1961
The 1960-61 decline was matched in
overall mildness by the advance which
preceded it. Plant and equipment
spending topped out last year, as earlier
noted, without matching its 1957 peak
volume. The shortfall was pronounced
in the sensitive durable goods manufacturing industries and the railroad
and mining groups, where the current
cyclical cuts have been sharpest, as well
as in nondurables manufacturing and
public utilities. (See text table.) Net
declines from peak to peak in these industries were substantially offset by the
continuing uptrend in capital outlays of
commercial firms and by the 1959-60
bulge in air transportation as the carriers rapidly converted their longer
through routes to jet operations.
Plant and Equipment Expenditures
(Percent change)
Peak to 3d quarter
after peak
Peak to
peak
1960 II
1957 III 1957 III
to 1961 I to 19.58 II to 1960 II
contrast to that recorded for the
second half of last year, when a piling
up of finished goods partially offset
the continuing reductions in working
stocks of producers.
the past year reflected in part a natural
tapering in the need to add to stocks as
the expansionary phase of the business
cycle matured. In part it was a reaction to the unusual pattern traced by
business holdings in 1959 and early
1960 because of the steel strike. With
increased productive capacity, and the
steel stock rebuilding proving shortlived, changes in the outlook for
material supplies came to be recognized rather abruptly, and there followed a large cutback in orders and a
move to draw down stocks in a number
of lines.
As has been the case in other postwar
business swings, the reduction in inventories has been most notable in
durable goods producing and handling
industries, where demand for final output dropped, and the especially marked
shift in the supply outlook for steel
reinforced this cyclical tendency.
Since 1961 opened, the sharpest
cuts in inventories have centered in
finished stocks, auto dealers' holdings
of new cars in particular having been
worked down at a time when they
usually increase. This pattern is in
Government and Export
Demand Strong
The continued expansion in government purchases and transfers at a time,
when revenues have been falling has
been one of the chief sustaining factors
in the economy recently, making a
substantial net contribution to the
strength of the markets for private
business output. At a $145 billion
annual rate for the winter quarter,
total expenditures shown by the national income accounts for Federal,
State and local governments (table 5)
were up $8/2 billion from the fourth
quarter of 1960 and $9 billion from the
spring of last year. At the same time
revenues from corporate profit taxes in
particular have dropped markedly.
The continued postwar uptrend in
State and local buying and the turnaround of Federal outlays since mid-
Durable goods manufacturing, mining, and railroads.
-14
-34
-13
Nondurable goods manufacturing and public utilities
-1
-19
-12
Table 1.—Gross National Product in Current and Constant Dollars (1-3, 1-5)
1960
Commercial and other
Airlines and other nonraiL _
-1
-4
+14
-12
-23
+19
-20
-4
Total
1958 1959 1960
I
II
III
IV
I
1958 1959 1960
The inventory movement proceeded
along cyclical lines, with liquidation
accelerated in the first quarter to a
seasonally adjusted annual rate well
above $4 billion. This compares with
$3 billion in the fourth quarter, the
difference comprising nearly half the
decline in total GNP in this period.
Accumulation had slowed progressively from early 1960 through midyear, and turned to liquidation in the
second half. The swing in inventories
since GNP topped out in the second
quarter has meant a $10 billion annual
rate decrease in demand from this
source. Notwithstanding the resultant
cut in earnings from production, major
categories of final purchases have held
up well, for the reasons earlier pointed
out.
The shift in inventory policy during
II
III
IV
I
Billions of 1954 dollars
Billions of current dollars
Gross national product
I
Seasonally adjusted at
annual rates
Seasonally adjusted at
annual rates
Inventory selloff accelerates
1W1
1960
1961
444.2 482.1 503.2 501.3 505.0 503.5 503.5 499.8 401.0 428.0 439.2 440.5 442.2 438.0 437. 0 432.4
Personal consumption expend293.5 313.8 327. 8 323. 3 329.0 328.3 330.8 328.8 273.6 289.4 296.8 294.8 298.3 296.9 297.6 294.7
itures
Durable goods
Nondurable goods
Services
Gross private domestic investment
New construction
Residential non farm . .
Other
37.3 43.4 43.6 44.2 44.5 42.7 43.2 39.2 35. 6 40.8 41.2 41.8 41.9 40. 2 41.2 37. o
142 0 147.6 152.4 150. 5 153. 5 152. 7 152. 9 153. 0 133. 7 139.3 141.9 141. 1 143.2 142.3 141.3 141. 1
114.2 122. 8 131.7 128. 6 130.9 132.9 134.7 136.6 104.3 109. 3 113. 7 112.0 113.3 114.4 115.2 11C,. 1
56.0 72.0 72.8 79.3 75.5 70.8 66.0 61.0 48.3 60.9 60.5 66.2 62.8 58.6 54.9 50.6
35.4 40.3 40.4 40.8 40.7 40.5 40.3 39.0 31.0 34.4 33.6 34.0 33.8 33. 6 33.5 32. 4
18.0 22.3 21.1 21.4 21.3 21.1 20. 5 19.2 16.2 19.4 18.0 18.3 18.2 18.0 17. 6 16. 5
17.4 18.0 19.3 19.3 19.4 19.5 19.8 19.9 14.9 15.0 15. 6 15.7 15.6 15. 6 15.9 10.fi
Producers' durable equipment. 23.1 25.8 28.8 27.1 29.5 29.7 28.7 26.5 19.4 21.3 23.7 22.4 24.2 24.4 23.8 21.9
Change in business inventories. -2.5
5.9
3.6 11.4
5.3
.6 -3.0 -4.5 -2.2
5.2
3.2
9.8
4.8
. 6 -2.4 — 3.8
-3.6
10
5.4
5
3.2 11.0
.4
.4
5.0
.3
.3 -3.4 -4.8 -3.1
.9
.3
.4
4.9
.3
2.8
.4
9.4
.4
4.5
.3
.3 -2.8 -4.D
.3
3.0
2.0
Nonfarm
Farm
Net exports of goods and servicesExports
Imports
5 3 — 2 —2 4
1 6 —. 1
3.4
38
22.7 22.9 26.5 25.2 26.4 27.3 27.0 27.4 21.4 21.9 25 2 23.8 25.2 25.8 25. 8
21.5 23.8 23.5 23.9 24.4 23. 5 22.4 22.1 21.6 2-1.3 23.6 24.0 24.5 23. 6 22.4
2»'.. 2
1.2 -1.0
1.2
3 7
4 6
. 7 2.2
Government purchases of goods
and services
_ _ _ 93.5 97.1 99.7 97.5 98.6 100.7 102.1 104.7 79.3 80.2 80.3 79.6 80.3 80.3 81.1 83.3
Federal
National defense
Other
Less: Government sales
State and local
52.6 53.3 52.4 51.8 51.7 52.7 53.3 54.7 44.5 43. f 41.6 41.8 41.8 41.2 41.4 42. 0
44.8 46.0 45.1 44.9 44.7 45.1 45.7 47.2
8 3 7 8 7 9 7.5 7.6 8.2 8.2 8.1
.6
.6
.6
.6
.5
.5
.5
.6
40.8 43.9 47.3 45.7 46.9 48.0 48.8 50.0 34.8 36. f 38.7 37.8 38.6 39.1 39.7 40. 7
SURVEY OF CURRENT BUSINESS
the fourth quarter to the first. According to programs recently announced
by the new Administration, the expansion in defense procurement is expected
to continue through fiscal 1961 and
into fiscal 1962. The letting of contracts for future delivery has also gone
up recently; this provides an immediate
stimulus to economic activity, even
though it is not yet reflected directly
in the Government component of GNP.
The recent increase in transfer payments and decline in tax accruals have
also been large enough to help considerably in checking the economic contraction. A $1% billion rise in the
annual rate of veterans' and other
benefits in the first quarter carried
government transfers to $30 billion,
more than $3 billion above the spring
1960 rate. The decline in Federal,
State and local tax revenues from their
second quarter high had amounted by
yearend to $2 billion. This fall, which
reflects chiefly a drop in corporate
income tax accruals, has apparently
continued into early 1961.
1960 contributed in about equal
proportions to the advances in government purchases of goods and services.
Such buying reached a record $104%
billion rate in the first quarter, $2%
billion above the yearend 1960 level
and $6 billion more than at the GNP
peak a year ago.
Growth in State and local outlays
has continued to reflect a steady rise
in wage and salary payments, as average pay rates increased along with the
number of employees, and a broadly
based expansion in major types of
construction activity.
Federal purchases have moved up
from a two-year low reached early in
1960. Part of the increase was in
nondefense outlays, but this reflected
mainly the mid-1960 rise in Federal
pay scales; changes in nondefense
spending since that time have been
small.
The larger part of the increase in
Federal buying has been for national
defense, and this accounted for all of
the $1K billion rise in annual rate from
Table 2.—Personal Income and Its Use (II-2)
1958
1959
1960
1960
I
II
1961
III
IV
I
Seasonally adjusted at annual rates
Personal income
Wage and salary disbursements
Commodity-producing; industries. - . Manufacturing onlv
Distributive industries
_
_ .. ..
Service industries
Government
. ... .
360.3
383.3
401. 2
396.2
404.2
408. 0
408. 5
407.5
239.7
258.2
272.5
268.7
273.1
274.9
273. 2
271.5
97.9
76.7
63.8
34.7
43.2
107.2
84.7
68.2
37. 5
45.3
111.4
88. 0
71.9
41.0
48.2
112.0
89.0
70.3
39.8
46.6
112.8
89.0
72.0
40.7
47.6
111.8
87.9
72.7
41.6
48.9
109.1
86.0
72.5
42.0
49.6
107.0
84.2
72.1
42. 2
50'. 3
Other labor income
9.4
10.1
11.0
10.7
10.9
11.2
11.1
11.0
Proprietors' income
46. 1
46.5
47.8
46.0
48.1
48.3
48.8
48.5
. . __
32.3
14.0
34.7
11.8
35.9
12.0
35.4
10.6
36.0
12.1
36.1
12.2
35.9
12.8
35. 5
13. 0
_
12.5
Business and professional
Farm
_
Rental income of persons
12.2
12.4
12.5
12.5
12.5
12.5
12.5
Dividends
12.4
13.4
14.0
13.9
13.9
14.0
14.1
14.0
Personal interest income . _ _ - . _ _ _ _ _
20.8
23.5
26.8
25.6
26.5
27.3
27,6
27.7
. __
26.4
27.0
29.0
27.9
28.5
29.1
30.5
31.8
Old-age and survivors insurance benefits
State unemployment insurance benefits _ Veterans' benefits
.. . .. .
Other
8.5
10.2
2.5
4.4
9.9
11.1
2.9
4.5
10.5
10.7
2.4
4.4
10.4
11.2
2.5
4.4
10.4
11.3
2.9
4.5
10.6
11.4
3.9
4.6
10.6
11.8
3.9
4.6
11.5
Transfer payments
Less: Personal contributions for social insurance. .
4.6
9.4
May 1061
For the Federal Government, the net
result of these revenue and expenditure
developments was a budgetary deficit
on income and product account which
totaled more than $1 billion in the
fourth quarter of 1960, at a seasonally
adjusted annual rate, and was exceeding
this figure as 1961 opened. At the
GNP peak in the spring of last year
there had been a $5 billion surplus in
this account (which is essentially on an
accrual basis).
The favorable course of our net
export balance during the 1960-61 recession has helped substantially to
cushion the decline in total GNP—
besides contributing to the recent cessation of the gold outflow from the U.S.
Net exports of goods and services
have risen $3 billion since last spring, to
a first-quarter rate of $5 billion—the
largest export balance since the Suezinfluenced peaks of 1957. The chart
on page 6 brings out the sharp contrast
between these developments and those
of 1957-58, when a third-to-first-quarter
drop in exports of oil, cotton, textiles,
machinery and other items contributed
$3K billion at annual rates to the overall
decline in GNP.
The 1960-61 gains have reflected
rising exports and declining imports of
merchandise. An important factor in
the reduction of imports has been the
pronounced drop in consumer buying of
foreign autos. This is associated with
increasing sales of U.S.-made small cars,
imports declining by more than a third
since the introduction of the American
compacts.
At the same time, foreign demand for
a wide variety of U.S. goods has been
well maintained or increased, as business
activity abroad has remained high.
It may be noted that the net exports
shown in the national income accounts
measure our international transactions
in goods and services only; and these
are but a part of the overall picture
which is covered in full by the balance
of international payments.
6.8
7.8
9.3
9.2
9.3
9.4
9.2
9.4
42.4
46.0
50.0
49.2
50.0
50.5
50.4
50.3
36. 7
5. 7
39.8
6.2
43. 3
6.7
42.6
G.6
43.4
6.6
43.8
6.7
43.6
6.8
43.3
7. 1
National Income
Equals: Disposable personal income
317.9
337. 3
354. 2
317.0
354.1
357. 5
358. 1
357.2
Lf-is: Personal consumption expenditures
293.5
313.8
327. 8
323. 3
329.0
328.3
330.8
328.8
24.4
23.4
26.4
23.7
25.2
29.2
27.2
28.3
286. 2
311. 1
320. 8
316.3
321. 1
323.2
322. 0
320.1
The drop in national income has
centered—as usual during recessions—
in the commodity producing and handling industries, where the course of
earnings reflected the cut in demand for
Le&s: Personal tax and nontax payments
Federal
State and local
-
. . .__
__.
Equals: Personal saving
Addendum: Disposable personal income in constant
i. 1 B54) dollars
SURVEY OF CURRENT BUSINESS
May 1961
period appears particularly unfavorable
by comparison with the opening quarter
a year ago, when the peak of the 195960 advance was reached.
The fragmentary information provided by first-quarter financial reports
of some of the largest companies has
featured declines for a number of durable goods manufacturing industries
and for the railroads. Income of iron
and steel producers, which dropped
sharply during 1960, seems to have continued downward in the opening months
of 1961. Profits of auto makers and construction materials companies, which
held up relatively better last year, also
experienced sharp reductions in earnings after the turn of the year. The curtailment of durable goods production in
the second half of 1960 has been reflected in lower railroad earnings; with
this factor aggravated by unfavorable
weather, several of the larger eastern
lines have reported deficits for the firstquarter of 1961.
In some other areas, profits have held
up very well or even expanded. The
service-t}7pe industries, notably communications and the public utilities,
have continued their growth into this
year. Some of the nondurable^ manufacturing lines have maintained the
durable goods and construction. Both
the falloff in corporate profits and that
in compensation of employees have been
concentrated in these industries.
At a $293^ billion annual rate in the
first quarter, employee compensation
was down $2 billion from the closing
quarter of last year and about $4 billion
from the third quarter peak. As shown
in table 2, a continued increase in
government payrolls has been more than
offset since last summer by a decline in
private wages and salaries. The drop
in the private segment from its mid1960 high to the first quarter of 1961
amounted to $5 billion—the same dollar
reduction that was recorded in the combined total for durables manufacturing,
mining, railroads, and contract construction. Changes in other industries
were comparatively limited.
Profits decline extended
By the end of 1960 pre-tax profits as
measured in the national income were
already $7 billion under their best 1960
quarter, and they have fallen somewhat
further since the turn of the year
(though sufficient data will not be available for some time to compute this portion of the first-quarter national income
total). Profits experience in the latest
Table 3.—Gross National Product by Major Type of Product in Current and Constant
Dollars (1-6, 1-7) 1
1901
1960
1960
Step-Up in Liquidation of
BUSINESS INVENTORIES in 1st Quarter
Billion $
3
2
Accumulation
1
0
-1
Liquidation
-2
Centered in FINISHED STOCKS •
2
AUTO DEALERS
1
0
-1
2
MANUFACTURERS &
NONAUTO DISTRIBUTORS
1
0
-1
J_
While Cutback in Manufacturers'
WORKING STOCKS Slowed
-2
1960
1901
U. S. Department of Commerce, Office of Business Economics
1958 1959
! 900
I
II
III
IV
I
1 958 1959 ! 900
I
II
III
IV
Billions of 1954 dollars
Billions of current dollars
Gross national product
444. 2 482.1 503. 2 501. 3 505.0 503. 5 503. 5 499. 8 401. 0 428. 0 439. 2 440. 5 442.2 438. 0 437. 0 432. 4
Final sales
Inventory change. _
440. 7 476. 1 499. (i 489. 9 499. 7 503. 0 500. 5 504. 4 403. 2 422. 8 430. 0 430.7 437.4 437. 4 439. 4 430. 1
-2.4 — 3.8
— 2. 5 5. 9 3.0 11.4 5. 3
-3.0
5.2 3.2 9.8 4.8
Goods ou tpu t
Final sales
Inventory change
- -
249.9 257 8 261. 0 261. 3 255. 7 253. 1 247. 4 211. 2 228. 3 233. 8 237. 5 237.1 231. 5 229. 1 223. 6
232. 3 230. 9 231.5 227.3
231.fi 244. 0 254. 2 249. 0 250. 1 255. 1 250. 0 251.9 213. 4 223. 1 230. 0
229.1
5. 9
3. 0 11.4
5.3
. 0 -3.0 — 4. 5 -2.2
5.2
3.2
9. 8
4.8
. 6 -2.4 — 3.8
Durable good output
Final sales
Inventory change _ . -
80. 2 94. 1 90. 1 101. 7 98. 0 93.9 90. 8 84.0 71.5 82. 1 83. 8 88. 7 85. 3 81.4 79. 8 73. 5
S3 3 91 0 93 9 91 8 94 9 9 4 . 0 94.8 90. 2 74. 2 79. 5 81. 9 80. \ 82. 6 81.5 83. 1 78. 9
2.0 1. 9 8.3 2.7 — . 1 -3.4 -5.4
— 3. i 3. 1 2 . 2 9. 8 3. 1 -. 1 -3.9
Nondurable goods output
Final sales
Inventory change
148.9 1 55. 8 101.7 159,3 103.3 101. 8 102.3 103. t 139.7 146. 2 150. 0 1 18. 8 151.8 150. 1 149. 3 150. 0
148. 3 153. 0 100.3 157. 8 101. 1 101. 1 101.3 101.7 139. 2 143.0 148.7 147.3 1 49. 6 149.4 148. 3 148. 4
1.5 2.2
. (\ 2.8 1.4
1.0 1.0
. 5 2.5 1.4 1.5 2.2
1. 0 1.0
Services
Construction
K>4. 3 175. 9 188. 7 184. 0 187. 0 190. 8 193. 4 19f>. 0 145. 3 151. 6 157.9 155. 6 157. 4 158. 8 100.0 1GI. 4
50 8 58. 3 56.6 56. 3 56. 7 57.0 57.2 56. 5 14. 4
18.1 47. 5 47.4 47.6 47.7
i For quarterly data beginning 1947, see SURVEY OF C T R K E X T BTSIXKSS, November I960, pages 18 and 19.
5912 8 S ° — 61
2
6'-5
I
Seasonal y adjusted at
arm ual rates .
Seasonally adjusted at
annual rates
1961
Quarterly Changes in Book Value
of Inventories, Seasonally Adjusted
47. 4
earnings levels they reached early last
year, and the petroleum industry, in
particular, reported higher profits in
the March quarter due to a large heating-oil demand, an improved supplydemand-price position, and cutbacks in
costs.
Profits data now available for the full
year 1960 show a slight reduction from
1959.
Pulled down by a $41 billion
fourth quarter rate, pretax earnings
and TYA totaled $44^ billion as against
$46K billion the year before. After-tax
net income was $23 billion, $1 billion
under the 1959 total.
SURVEY OF CURRENT BUSINESS
10
Table 4.—Relation of Gross National Product, National Income,
and Personal Income (1-18)
May 1961
Table 6.—Personal Consumption Expenditures by Major Type
(11-6)
[Billions of dollars]
[Billions of dollars]
1900
1959
1958
I
1980
II
1961
III
IV
1960
I
1958
1959
I
1960
Seasonally adjusted at annual rates
Gross national product
444.2
i.i-'ss: Capital consumption allowances
Equals : Net national prod uct
482.1
38 1
40 5
406.1
441.6
Less: Indirect business tax and
nontax liability
39. 4
Business transfer payments
1.8
Statistical discrepancy. _ . -1.7
Plus: Subsidies minus current
surplus of go vermen t
enterprises
Equals: National income
1.8
-1.8
501.3
43 2
9
42
460.0
505.0
43.0
459.1
43. 6
462.0
44.4
45. 1
503. 5
460.0
45. 1
45.3
503.5
44. 1
459.4
45.4
499.8
44. 5
455.4
45.4
18
-3.9
1.8
-3.9
1.8
-1. 1
-5.8
-4. 1
n.a.
1.8
1.8
1.8
1. 1
.6
rj
.5
.6
.5
.5
.6
367.7
399.6
417.5
414.4
419.4
419.3
416.9
n.a.
Less: Corporate profits and inventory valuation adjustment.
_ _
Contributions for social
insurance
Excess of wage accruals
over disbursements
Plus: Government
transfer
payments to persons
Net interest paid by government
Dividends.. . _ _ . ..
Business transfer payments
Equals: Personal income
42.6
503.2
37.4
46. 6
44.3
48.0
45.3
42.2
41.0
n.a.
14.8
17.3
20.2
19.9
20.2
20.4
20. 1
20.2
.0
.0
.0
.0
.0
.0
.0
.0
24.5
25.2
27.2
26. 1
26.7
27.3
28.7
30.0
6.2
7. 1
13.4
8.0
7.8
8.0
8.2
8.2
14.0
13.9
13.9
14.0
14. 1
8. 1
14.0
12.4
1.8
1.8
1.8
1.8
1.8
1.8
1.8
1.8
360.3
383.3
404.2
396. 2
404. 2
408.0
408.5
407.5
II
1961
III
IV
I
Seasonally adjusted at annual rates
Goods and services, tota!
293. 5
313.8
327. 8
323.3
329.0
328. 3
330. 8
328, 8
37.3
43. 4
43.6
44. 2
44.5
42.7
43.2
39.2
Automobiles and parts
13.9
17.9
18.4
18.5
18.9
17.5
18.5
14. 8
Furniture and household
equipment
17.4
18.8
18.4
18.9
18.7
18.3
18.0
17.6
6.0
6.6
6.8
6.7
6.9
6.9
6.8
6.8
142. 0
147.6
152.4
150. 5
153.5
152.7
152.9
153. 0
Durable goods, tota!
Other
Nondurable goods, total
Food and beverages
76.8
78.2
80. 8
79.5
81.4
80.7
81.5
81.6
Clothing and shoes
25.7
27.4
27.9
27.8
28.3
28.2
27. 6
27.4
Gasoline and oil
10.6
11. 1
11.7
11.4
11.7
11.7
11.8
11.7
Other.
28.8
30.9
32.0
31.7
32.1
32.0
32.0
32.4
Services, total
114.2
122.8
131. 7
128. 6
130.9
132.9
134. 7
136. G
38.0
40.5
42.8
41.9
42.5
43.1
43.8
44.3
16. 9
18.0
19.2
18.9
19.1
19.3
19.6
19. »
9.2
9.9
10. 5
10. 3
10.5
10.5
10.5
10. 6
50.2
54.5
59.3
57.5
58.8
60.0
60.9
61.9
Housing
_
Household operation . ._
Transportation
Other
Table 7.—Foreign Transactions in the National Income Accounts
(IV-2)
[Billions of dollars]
n. a.—Not available.
1960
1961
Table 5.—Government Receipts and Expenditures (III-3, III-4)
[Billions of dollars]
1958
1960
1958
1959
1960
I
II
III
IV
78.6
89.5
94.9
96.0
96.1
94.4
93.3
n.a.
36.7
17.6
39.8
22.0
43. 3
20. 4
42.6
22.5
43.4
21.1
43.8
19.2
43. 6
18.8
43.3
n.a.
11.9
12.4
12.9
14.7
13.8
17.4
13.6
17.2
14.1
17. 5
13.8
17.6
13.6
17.3
13.3
17.4
II
III
EV
Receipts from abroad
22.7
22.9
26.5
25.2
26.4
27.3
27.0
27.4
22.7
22.9
26. 5
25. 2
26.4
27.3
27.0
27.4
22.7
22.9
26.5
25.2
26.4
27.3
27.0
27.4
Imports of goods and services..
_ _ 21.5 23.8
1.5
Net
transfer payments by Government, 1.3
-.1 -2.5
\Tet foreign investment
23.5
1.6
1.4
23.9
1.6
-.3
24.4
1.7
.3
23.5
1.4
2.3
22.4
1. 7
3.0
22. 1
1.6
3.7
Payments to abroad
87.9
90.9
92.3
90.3
91.4
92.8
94. 6
98.1
Table 8.—Sources arid Uses of Gross Saving (V-2)
Purchases of goods and services
52. 6
53. 3
52.4
51.8
51. 7
52.7
53.3
54.7
[Billions of dollars]
Transfer payments
To persons
Foreign (net)
21.3
20.0
1.3
22.0
20.5
1.5
23.9
22.3
1.6
22.8
21.3
1.6
23.5
21.8
1. 7
23.9
22.4
1.4
25.3
23. 7
1.7
26.4
24.8
1.6
Grants-in-aid to State and local
governments
5.4
6.6
6.1
6.2
6.2
6.2
5.9
7.0
Net interest paid
5.6
6.4
7.2
7.0
7.2
7.3
7.4
7.2
Subsidies less current surplus of
government enterprises
3.0
2.6
2.6
2. 5
2 7
2.6
2.7
2.8
Federal Government expenditures
_
-1.4
State and local government receipts. .. 42.1
46.2
Personal tax and nontax receipts. _ 5.7
Corporate profits tax accruals
1.0
Indirect business tax and nontax
accruals.
. . . .. . 27.5
Contributions for social insurance. 2.5
5.4
Federal grants-in-aid.
6.2
State and local government expenditures. _ _ ... _ _ _ _ _ _ _ ... ..
Purchases of goods and services
Transfer payments to persons
Net interest paid
Less: Current surplus of government enterprises. . ...
2.7
5.6
4.7
48.0
47.5
48.0
n,LI.—Not available.
1.6 -1.3
48.2
48.4
n.a.
n.a.
6.7
1.2
6.6
1.3
6.6
1.2
6.7
1. 1
6.8
1.1
7.1
n.a.
29. 6
2.6
6.6
31.3
2.8
6.1
30.8
2.7
6.2
31.2
2. 7
6.2
31.4
2.8
6.2
31.8
2.8
5.9
32.1
2.9
7.0
44. 1
47.4
50.9
49.2
50.5
51.6
52.5
53.8
40.8
4. 5
.6
43.9
4.7
47.3
4.9
.8
45.7
4.8
46.9
4.9
.8
48.0
4.9
.8
48.8
5.0
.8
50.0
5.2
.9
1.9
2.0
2. 1
Surplus or deficit (— ) on income and
-2.0 -1.1 -2.9
product account
1960
1958
Surplus or deficit (— ) on income and
-9.3
product account
2.0
-1.7
2. 1
-2.5
2. 1
2.2
-3.4 -4.1
2.2
n.a.
I
Seasonally adjusted at annual
rates
Exports of goods and services... .
Personal tax and nontax receipts . .
Corporate profits tax accruals
Indirect business tax and nontax
accruals
Contributions for social insurance .
I
1960
I
Seasonally adjusted at annual
rates
Federal Government receipts
1959
1961
1959
1960
I
II
1961
III
IV
I
Season ally adj usted al annua rates
Gross private saving.
Personal saving
_. _.
Undistributed c o r p o r a t e
profits
Corporate inventory valuation adjustmentCapital consumption allowance
- - - - - - _..
Excess of wage accruals
over disbursements
69.0
73.9
78.3
76.1
77.3
80.8
78.5
n.a.
24.4
23. 4
26.4
23.7
25.2
29.2
27.2
28.3
n.a.
6. 7
10. 5
8.7
11.0
9.5
—.5
.0
-.8
— .4
7.3
7
6. 8
_ 2
.4
.4
38. 1
40.5
43. 2
42.2
43.0
43.6
44. 1
44. 5
.0
.0
.0
.0
.0
.0
.0
.0
Government surplus on income
-11.4
and product transactions
-2.5
2
3.9
2.3
-1.8
-5.4
n.a.
-9.3
— 2.0
-1.4
— 1. 1
2 7
-2.9
5.6
4.7
-2.5
1.6
-3.4
-1.3
—4. 1
n.a.
n.a.
56.0
69.5
74. 1
79.0
75.7
73.1
69.0
64.7
56.0
72.0
-2.5
72.8
1.4
79.3
-.3
/o. o
.3
70.8
2.3
66. 0
3.0
61.0
-1.8
-3.9
-1.1
-3.9
-5.8
-4.1
n.a.
Federal
State and local
Gross investment
.-
Gross private domestic investment
Net foreign investment
Statistical discrepancy
n.a.—Not available.
-.1
-1.7
3.7
BY MAURICE LIEBENBERG AND JEANNETTE
M. FITZWILLIAMS
Size Distribution Of Personal Income, 1957-60
Role of Capital Gains, Earnings, and Supplementary Incomes
Since 1929 there has ocVERAGE family personal
This
article
brings
up
to
date
the
estimates
of
the
distribution
curred a longterm upsweep
income was estimated at
of families and unattached individuals by size of family personal
$6,900 in I960, a gain of
in real income. Average real
T
income w hich were published in the April 1960 issue of the
$285 over the previous year.
income per consumer unitSURVEY OF CURRENT BUSINESS. Revised estimates of the
moved from $4,190 in the
The increase of about 4 perdistributions formerly published for 1957 and 1958 are included
earlier year to $6,900 in 1960,
as well as preliminary estimates for 1959 and 1960. In addition,
cent over 1959 was only
the real income series has been extended to include distributions
an increase of about 65'perslightly less than that regisfor 1929 and 1941. A detailed account of definitions and esticent. For the Nation's contered in 1959 over 1958 when
mating procedures can be found in the Technical Note to the
incomes moved up strongly
sumer
units this brought a
article on income size distribution which appeared in the April
marked upward shift along
after the cyclical contraction
1958 issue of the SURVEY and to the supplement to the SURVEY
the income scale. The moveof that year. With the inwhich initiated the OBE series entitled "Income Distribution
in the United States, 1944-50" (U.S. Government Printing
ment to higher income levels
crease in average income,
Office, Washington 25, D.C., 1953, price 65 cents). For a
can be seen graphically in
consumer units moved to
detailed discussion of postwar and prewar changes in income
the accompanying chart
higher income brackets over
distribution, the reader is referred to U.S. Income and Output
which plots the percent of
the entire range of incomes
(U.S. Government Printing Office, Washington 25, B.C., 1958,
price $1.50).
both units and income above
for which detailed estimates
are available. The change
specified income points for
in average income reflectthe years 1929 and 1960.
ed an increase in both the total in- though somewhat smaller than the In order to use a convenient scale the
come flow and in the number of con- 1958-59 increase, was well above the curves are made to terminate at an insumer units. Total income increased average annual rate of 1.9 percent in come of $15,000 above which only 6
from about $365% billion in 1959 to evidence since 1947.
percent of the units and 22 percent of
Table 8 presents distributions cor- the income were classified in 1960.
$385^ billion in 1960. Reflecting further increases in population and family rected for price change by converting
The chart shows marked upward
formation, the number of consumer all the arrays to 1960 dollars. The ad- movement along the entire income
units increased by about 0.6 million justment is to be regarded as approxi- scale. Of particular interest are the
over the same period and reached a mate since the implicit price deflator percentages registered above the intotal of 55.9 million. The additional for personal consumption expenditures comes in the middle range. Thus, in
units were composed of approximately (1960—100) was used to adjust income 1960 fully 57 percent of units were clas0.7 million families of two or more per- uniformly at all levels. Because of the sified at real incomes above $5,000 comsons, an increase which was partially relatively higher prices in 1960 the net pared with 20 percent in 1929. Also of
offset by a small decline in the number result of the adjustment is to show interest is the improvement noted for
smaller shifts up the income scale than the higher incomes where 17 percent of
of unattached individuals.
The modal, or most frequent, income those found in the current dollar dis- the units above $10,000 is to be comwas estimated at $4,820, an upward tributions.
pared with 5 percent in the 1929 disFor purposes of comparison the pre- tribution.
shift of about $260 since 1959. The median income—the middle income of the war distributions of income for the
distribution with the same number of years 1929 and 1941 are included. A Income dispersion in business
contraction
units below- and above the income similar correction has been made so that
point—was estimated at $5,600, an in- they also reflect 1960 prices. The disThe discussion up to now has been
crease of $240 over the previous year. tributions included, however, are intro- concerned with changes in absolute
duced only for rough comparison pur- size of family income whether in terms
Real income continues to rise
poses and are not to be regarded as an of current or constant dollars. It is
Allowing for a moderate price in- extension of the official OBE series also of interest to examine to what
crease real income per family increased on size distributions. (See Technical extent the distribution has moved
by 2.4
percent over 1959. This gain, Note.)
toward greater or lesser income dis
http://fraser.stlouisfed.org/
11
Federal Reserve Bank of St. Louis
12
persion. Historically, it has been noted
that during the period preceding World
War II incomes became somewhat
more equally distributed while the
postwar period was characterized by
a marked stability in the underlying
relative distribution.
From this point of view, the decline
in business activity and income which
occurred in 1958 did little to disrupt
this pattern of stability. Final data
now available for the first time for
1958, however, do suggest that a slight
movement occurred in the direction of
a somewhat wider dispersion of income.
SURVEY OF CURRENT BUSINESS
and the number of full- and part-time
employees dropped by about 1.5
millions from 1957 to 1958. These
recessional effects caused a downward
shift of many wage and salary units.
Along with these declines, an upward
movement occurred in average wage
and salary incomes for employed
workers, and an increase in the number of professional and managerial
workers—changes resulting in upward
shifts along the income scale for many
wage and salary workers.
The net effect of these diverse
A similar movement occurred in the
1953-54 downturn
In order to abstract from changes
in absolute income, it is convenient
to divide the distribution into several
segments each of which contain the
same number of units and to compute
the percent of total income received
by each group. The results of such
a division into "quintiles" can be
found in table 14 which presents data
for each fifth of the consumer units as
well as the upper 5 percent of the
distribution. With such arrays it is
eas}^ to examine changes in relative
distribution by noting the percent of
total income received by the various
segments between any two years.
The table shows decreases in the
proportion of total income received
by the lowest three-fifths of consumer
units between 1957 and 1958 while
the upper two-fifths enjoyed increases
in their share of total income. The
relative gains in the highest fifth,
however, do not appear to have been
uniform since a slight decline was noted
for the highest 5 percent of the distribution.
The direction of change in relative
distribution appears consistent with
the various economic movements in
evidence during 1958. Although many
factors were operative, such as the
near maintenance of dividend payments
at high levels despite the dip in
business activity, it is apparent that
significant effects were due to movements within the wage and salary
distribution itself. The year was characterized by increased unemployment.
At the same time, a shorter workweek
was registered by employed workers,
May 1001
movements among wage and salary
earners was an increase in the dispersion of incomes from this source.
An examination of the relative distribution of wage and salary income
arrayed by size of such income reveals
that the lowest fifth actually experienced declines in relative share.
Similar movements were not in evidence
for earnings from business.
The basic data available for 1959
and 1960 are incomplete and do not
permit adequate evaluation of changes
in relative distribution in those years.
Distributional Effects of Capital Gains and Losses
v><APITAL gains and losses—both realized arid unrealized—play an important role in the dynamics of economic
progress through their influence on both
investor and consumer decisions. This
report does not deal with this broad and
important subject but is confined to an
examination of the influence of capital
gains and losses on the distribution of
incomes. With statistical measurement
necessarily restricted to realized capital
gains and losses, the amounts involved—
about 2}X2 percent of family personal
income—are not sufficiently large to
change the distribution radically. As
will be seen below, however, there is a
noticeable effect especially at the high
income levels.
INCOMES OF FAMILY AND INDIVIDUAL UNITS
Marked Shift to Higher Levels of Real Income From 1929 to 1960
As an Example of This Shift —
Units With Real Incomes Above
$5,000 Rose From 20 Percent in
1929 to 57 Percent in 1960
Percent
100
Their Share of Total Income Rose
From 55 Percent to 82 Percent
Percent
100
1960
PERCENT OF AGGREGATE INCOME OVER SPECIFIED
INCOMES
80
60
1929.
40
20 -
20
5,000
10,000
15,000 0
5,000
10,000
Size of Family Personal Incomes (Before t a x e s ) in I960 $
U. S. Department of Commerce, Office of Business Economics
15,000
May 11)01
SURVEY OF CURRENT BUSINESS
Treatment of capital gains in
personal income
The concept of income which underlies the present size distributions is only
one of several alternatives for rankingconsumer units—an alternative selected
for its consistency with the personal income series in the national accounts.
As such, it does not include capital
gains and losses which are considered
items which do not arise in production.
From some points of view, however,
receipts from such sources may be
meaningfully included in the size distributions of income.
Reasons for their inclusion can be
found in the fact that consumer units—
whether acting in their capacities as
consumers or investors—seldom clearly
distinguish between receipts from these
sources or from others which are obtained from their participation in production or in their role as recipients of
transfer payments. From this point of
view, capital gains and losses enter
actively into economic decisions regarding the disposition of income.
Another reason which can be offered
for their inclusion is the fact that, in
some instances, the distinction between
capital gains and losses and other income sources is itself obscure-—for example, the use of stock options in lieu of
compensation and the realization of
persons' accumulated equities in corporations through capital gains. In any
case, it is interesting to investigate the
distributional effects of including capital
gains and losses in the size distributions
of income.
Such an investigation could take
various forms depending upon the gains
and losses to be included. The present
investigation will be confined exclusively to realized gains and losses as
reported to the Internal Revenue Service. In general, the3r are comprised of
gains and losses obtained through the
sale of capital assets which include
stocks, securities, and exclude assets
held for sale in ordinary course of business. The IRS data provide a reliable
source and the means whereby gains
and losses can be incorporated into the
distribution. (See technical note.)
Business Earnings Are More Widely Dispersed
Than Wages and Salaries*
Percent of Total Wage or
Sole Proprietors' Income
80
60 Earnings of Wage
and Salary Workers
Earnings of
Sole Proprietors
40 -
20 -
Lowest
Highest
Fifth
Fifth
Highest
Fifth
Lowest
-20 L
Fifth
(losses)
Returns Ranked by Size of Earnings
* Based on IRS returns for 1958
U. S. Department of Commerce, Office of Business Economics
dependent upon many factors the most
important of which are the volume of
capital transactions, the price movements of the assets involved, and the
length of time the assets are held. The
volume of capital transactions is characteristically large. One component of
such transactions, the sales of stocks
listed on the exchanges, illustrates the
magnitudes involved. During I960, for
example, the average monthly sale of
such stocks amounted to approximately
116 million shares and involved holdings
of about $3.8 billion. During the postwar period this large volume of sales has
been associated with generally rising
prices which provided both the opportunity and incentive for profit taking.
Data on the length of time the assets
were held are not available, but it is
apparent that a wide spectrum of
purchase dates underlie the sales of
securities during any period and are
instrumental in determining
the
amounts of gains realized.
According to the Statistics oj Income
for 1958—the latest year for which complete data are available—approximately
3/9 million returns reported net gains
from the sale of capital assets. For
Realized capital gains large in 1958
these returns, a total of almost $5
The amount of capital gains and billion of gain were included in adjusted
losses realized in any given period is gross income. (For 1959, prelimiiuny
13
61-5-8
data reveal approximately 4 million
returns and $7 billion in gains.) Since
for tax purposes, only 50 percent of
long-term gains need be included in
adjusted gross income, actual realized
gains are much larger. In 1958, returns
reporting gains accounted for about
$9K billions prior to the 50 percent
exclusion.
For the same }rear almost 1 million
returns reported net losses of approximately $1 billion prior to statutory
limitation. Since each taxpayer is
Table 1.—Distribution of Consumer Units
Excluding and Including Capital Gains
and Losses, 1958
Consumer units
Family personal
income —excluding
and including gains
and losses
Excluding gains
and losses
Including gains
and losses
Number Percent Number Percent
Under $2,000
$2,000- $2,999
$3,000-$3,999
$4,000-$4,999
7,912
5,687
6,415
6,755
14.5
10.4
11.7
12.4
7,767
5,534
6, 151
6, 825
14.2
10. 1
11.3
12.5
$5,000-$5,999
$6,000-$7,499
$7,500-$9,999
5, 955
7, 451
6,975
10.9
13.6
12.8
5,780
7,422
7,163
10.8
13. (i
13.1
$10,000-$14,999
$15,000-$19,999_ _ $20,000-$24,999
$25,000-$49,999
$50,000 and over
4,855
1, 377
509
588
141
8.9
2.5
.9
1.1
.3
5,059
1,461
576
617
165
9.3
2.7
1.0
1.1
.3
54, 620
100.0
54, 620
100.0
Total
Source: U.S. Department of Commerce, Office of Business Economics.
SURVEY OF CUEEENT BUSINESS
14
required to net losses against gains,
gross grains from the sale of capital
assets were, of course, even larger.
Percentage of units with such gains
rises imth income
Although the number of returns
reporting capital gains constitute less
than 6 percent of all returns, there are
marked differences in the proportion of
such returns at the various income
levels. In the adjusted gross income
class $0-$1,000, for example, only
about 2K percent of all returns in that
class reported capital gains. In the
class $10,000-$15,000 the percentage is
over 16. At higher levels, the proportion rises markedly; in the million
and over class the percentage is about
80.
Since at the lower levels capital gains,
when they do occur, are characteristically small, they contribute little to
the total incomes. In the class $0$1,000, for example, about 2 percent
of total income is attributed to statutory gains. The percentage declines
slightly further up the income scale
and actually reaches a low at about
$6,000 of adjusted gross income where
relatively large proportions of units and
incomes are concentrated. Above this
point the percentage again rises
DIVIDENDS, INTEREST, RENTS, AND OTHER
INCOMES* SUPPLEMENTARY TO EARNINGS
Important at Both High and
Low Income Ranges
Average Supplementary Income
$20,000
attaining a figure of about \% percent in
the $10,000-$15,000 interval and continues to rise to almost 42 percent of
adjusted gross income in the million
and over class. This high percentage is
achieved despite the inclusion of only
50 percent of long-term gains. Thus,
at the upper extreme of the income
distribution capital gains become
dominant and are often, indeed, a
primary reason for classification at such
high levels of income. Since the
proportion of total income at such high
levels is relatively small, however,
statutory gains and losses accounte 1 for
less than 2 percent of total adjusted
gross income for the distribution as a
whole.
The average adjusted gross income
computed for returns reporting capital
gains was approximately $9,700 compared with a figure of $4,800 for all
returns. It is true, of course, that
capital gains constitute one component
in adjusted gross income and hence can
be expected to be associated on the
average with higher total incomes.
But even when allowance is made for
this fact by subtracting the average
capital gain of $1,400 from adjusted
gross income, the remaining average is
approximately $8,800, still substantially
above the income of all rturns from all
sources. Such an association between
capital gains and high incomes exclusive
of such gains is to be expected, of course,
since asset holdings and their disposition
are related to the receipt of income.
The high incomes permit saving and the
purchase of securities which further
augment incomes by giving rise to
property income.
15,000 -
Wide dispersion of capital gains
10,000 -
'5,000 -
* 0-1,000 * 4,000-5,000 * 25,000 8 over
Selected Earnings Brackets
Cqual to the sum of income f r o m oil sources included
based on IRS r e f u r n s for 1958.
U. S. Department of Commerce, Office of Business Economics
61- 5 - S
The distribution of capital gains
ranked by size of gain is very widely
dispersed. One measure of income
spread, the coefficient of variation
yielded a value of over six, revealing
that in order to include approximately
two-thirds of the returns one must
encompass a range of about 12
times the average size gain. This is to
be compared with coefficients for returns reporting positive business incomes (nonpartnerships) and for wage
and salary returns at about \% and 1,
respectively.
M;iy 1!K>1
Additional evidence of the wide
dispersion of gains from the sale of
capital assets is the relatively large
percent of returns at high incomes from
this source when the returns are ranked
by size of gain. Above $25,000, for
example, a larger percentage of capital
gain returns is found than in the wage
income distribution ranked by size of
wages, and above $50,000 the units
ranked by such gains constitute a
larger percentage than even the fairly
widely dispersed business income distribution.
Significant impact on income
In order to examine the effect of
including realized gains and losses in
Table 2.—Percent of Aggregate Income by
Quintiles (Fifths) and Top 5 Percent, for
Consumer Units Excluding and Including
Capital Gains and Losses, 1958
Percent of total income
Fifths of consumer units
Lowest
2
3
4
Highest
Total
Top 5 percent
_ .
Excluding
Including
capital gains j capital gains
and losses
and losses
4. 6 '
10 9
16. 2
22. 7
45. 6
4.6
10 8
16 1
22. 5
46. 0
100.0 i
100.0
19. 9
20. 3
Source: U.S. Department of Commerce, Office of Business
Economics.
the family personal income distributions, these items were incorporated in
the estimates for 1958. The results—
which are to be regarded as only approximate—are given in table 1. For purposes of comparison, the family personal
income distribution exclusive of gains
and losses is presented for the same
income classes.
The table shows clearly the upward
shift of units to higher income levels.
Approximately 0.5 million units formerly classified at income levels below
$5,000 moved to higher levels. Above
$25,000 the number of units increased
by about 53,000 or about 7 percent
more than were classified at those levels
before introducing capital items. The
nature of the approximations used in
deriving the distributions inclusive of
capital gains and losses does not permit
detailed breakdowns at extremely high
incomes, but it is apparent from the
analysis of the tax data that a sub-
SURVEY OF CURRENT BUSINESS
11)61
stantial augmention of returns would
result.
The effect on the relative distribution
of income can be appraised by examination of table 2 which shows consumer
units arrayed in quintiles and gives the
proportion of total income in each
segment. The middle quintiles (fifths)
show decreases in relative importance
while the lowest segment maintained its
position. As expected, because of the
extremely wide dispersion in the capital
gains distribution and the presence of a
marked increase in both average gain
and the percent of units having such
sources at the higher income levels, the
highest quin tile showed a significant
increase. For the upper 5 percent of
the distribution the percent of aggregate
income increased from 19.9 percent to
20.3 percent. The constancy of the
share for the lowest fifth after the
inclusion of capital gains and losses is
probably due to the fact, previously
noted, that such receipts are of some
importance at the lowest income levels.
In some instances, the gains are associated with business and other losses
which are partially offset when gains
are included.
15
Table 4.—Percent of Total Earnings and of
Total Adjusted Gross Income by Quintiles (Fifths) and Top 5 Percent, 1958
Percent income
Quintiles and
upper 5%
Wage and salary
returns
Business income
returns l
By size of Bv size of By size By size of
adjusted
wage and adjusted
*of
gross
salary
gross
business
income
income
income
income
Lowest
2
3
4
Highest
3.4
10.5
17.8
25 1
43.2
3.6
10.7
17.2
24.4
44.1
-11.0
3.9
11.0
23.4
72. 7
7.1
13.2
•21. 7
.'7. 9
Total
100. 0
100. 0
100. 0
l(Kl.l)
16. 6
18.1
37.7
2*. 9
Top 5 percent
1
U.I
Partnership returns not included.
Source: U.S. Department of Commerce, Office of Business
Economics.
,,
Earnings Distributions and Related Incomes
IVlUCH of the interest in income size
distributions centers on the basic differences among component distributions
and the manner in which the various
income sources combine to determine
the overall distribution of income.
Two component distributions of particular interest are those of wage and
business incomes. In comparing the
two, essential differences between them
should be noted. The bulk of wage and
salary incomes can be attributed to the
labor performed by the recipients. In
contrast, business earnings are mixed
incomes reflecting returns to capital
and entrepreneurship as well as to labor
performed by the proprietor. Although
Table 3.—^Percent of Wage and Salary and
Business Returns by Size of Earnings and
by Adjusted Gross Income, 1958
Percent of wage
and salary returns
Earnings or
adjusted gross
income brackets
Percent of business returns l
By size By size of By size By size of
of earn- adjusted of earn- adjusted
gross
gross
ings
ings
income
income
Under $1000
$1000-$! ,999
$2000-$2,999
$3000-$3,999
$4000-$4,999
13.2
12.3
12.3
12.8
13.1
11.3
11.9
12.3
13.0
13.2
43.7
17.6
11.3
7.8
5.5
IS. 5
17. 1
13.6
11.5
9.5
$5000-$9,999
$10,0()0-$24,999 . .
31.5
4.5
32. 5
5.3
9. 1
4.2
20.0
8.1
$25,000-$49,999
$50,000 and over
.3
(2)
.4
.1
'.1
1.4
.3
Total
Mean income. . _ _
1
2
100.0
100.0
100.0
100.0
$4, 410
$4, 720
$2, 470
$4, 760
Partnership returns not included.
Less than 0.05 percent.
Sources: Internal Revenue Service and U.S. Department
of Commerce, Office of Business Economics.
a precise separation of the labor and
non-labor components of entrepreneurial income is not feasible, it is probable
that a large proportion of business incomes represents a return on the labor
performed by the entrepreneur.
The two earnings distributions—so
designated because of the direct participation of the recipient in production
either as an employee or entrepreneur—
differ markedly in average income, in
income dispersion, and in the degree to
which the earnings combine with inincomes from other sources such as
dividends, interest, and other forms of
property income and, in some instances,
with the alternative earnings source.
The combination of a given type of
earnings with incomes from other
sources can either blur or accentuate
the differences between the initial earnings distributions depending upon the
magnitudes involved, the characteristics of the distributions of the additional
incomes, and the manner in which they
combine.
It is not possible, given present data
limitations, to explore these problems
fully. It is feasible, however, to undertake a brief analysis based on income
tax data which permit, at least, partial
examination of the two earnings distributions and their combination with
other incomes.
It should be noted that the inquiry
is limited to the tax return unit and to
income reported for tax purposes. The
basic difference between the tax return
and consumer unit, as well as the absence of some income sources which are
included in the family personal income
concept, serves to qualify the results
obtained, but the analysis is of value in
providing at least partial information
on the component distributions and the
degree to which their incomes are augmented. From this point of view, it is
equally important to note that the IRS
distributions contain a very large number of joint returns which implies that
some degree of combination into family
units has been achieved.
Earner distributions markedly
different
With these qualifications in mind, we
can examine in some detail data in
Table 5.—Average Income From Sources
Other Than Earnings for Wage and Salary
and Business Returns, 1958
Level of specified earnings
source
Average income other t h a n
earnings
Wage and
salary
returns
0-$999
$1,000-$! ,999
$2,000-$2,999
$3 000-$3 999
$4,000-$4,999
$5,000-$9 999
$10,000-$24,999
$25,000 and over
All returns
Business!
returns
$570
330
230
200
120
$2. 4ft)
1.4X0
1.250
970
K50
1,100
1, 100
16, 690
2. f,40
3. 290
10. 3*0
310
I, 870
1
For business returns (nonpartnerships) with positive
business income only. The previous table includes, in addition, business returns reporting business losses.
Source: U.S. Department of Commerce, Office of Business
Economics.
SURVEY OF CURRENT BUSINESS
16
table 3 which gives the percent of tax
returns of both wage and business
earners in each of broad earnings and
adjusted gross income classes. The
overall means of the distributions are
included for comparison purposes.
The most conspicuous differences
between the two distributions can be
found at both the extremely low and
high levels of earnings. Thus, about
44 percent of business returns reported
business earnings of less than $1,000
while in the same wage and salary
earnings class only 13 percent of the
units are found. The overall mean of
the business return distribution is substantially less than that of wage and
salary earners, $2,470 compared with
$4,410, the former being strongly influenced by the relatively large number
of returns with losses. Despite the
lower mean income, the small percentage of business units at the high levels
is larger than that of wage earners, 0.8
percent above $25,000 compared with
Table 6.—Average Family Personal Income
Before and After Federal Individual Income Tax Liability and Average Annual
Earnings Per Full-Time Employee
Average (mean) personal
income per family and Average
Number
unattached individual
(mean)
of families
annual
and unatearnings
tached
Before tax
After tax
per fullindividtime emuals
ployee (in
(millions) In cur- In
In curIn
current
1960
rent
rent
1960
dollars)
dollars dol- dollars dollars i
lars i
ife.i....
36.1 $2, 340 $4.190 $2. 320 $4.160
I'U7____
]'.M*
l!»49
44.7
46.3
47.8
4,130
4, 350
4,170
5, 370
5, 350
5, 180
3, 720
4.010
3. 860
4, 840
4, 940
4, 800
2,589
2,795
2, 851
1 Uol ,)
]'Jnl
i I'"'-'
48.9
49.5
50.2
4, 440
4, 900
5, 120
5, 440
5, 630
5, 760
4, 070
4, 420
4. 570
4, 980
5, 070
5. 140
3. 008
3. 231
3.414
1V*."3
50.5
51.2
52.2
5, 390
5, 360
5, 640
6. 000
5. 910
6, 190
4,810
4, 840
5, 090
5, 350
5, 340
5, 590
3,587
3. 670
3.847
52.8
53.6
54. 6
6, 010
6, 240
6, 290
6, 490
6, 550
6, 470
5, 400
5.610
5. 670
5, 830
5,880
5, 840
4, 036
4, 205
4,347
55.3
55. 9
6,610
6, 900
]
6. 730 ' 5, 930 | 6, 040
(5.900 6,170 1 6.170
4, 553
4,734
] ',' "4
I',*.",
11J.V.
ruo7
I'HaH
1 -I ~ ( I
!'.*»"____
$1. 405
1. The price indexes used as deflators are those employed
in deflating the personal consumption expenditure series in
thi' national income account.
Table 7.—Distribution of Consumer Units and Their Income by Family Income Level,
1947 and 1955-60
Number of families arid unattached
Individ mis (millions)
Family personal income
(before income taxes)
! n d or $2 000
$2 000-$3 909
$4, 000- $5, 999
$6,000 $7,999
$*.000-$9,999
Aggregate family personal income (billions
of dollars)
1947
1955
1956
1957
1958
1959
I960
1947
1955
1956
1957
1958
1959
11 1
17.1
9.2
._. 3.8
1.5
8 2
13.3
13.6
8.5
3.7
"
12.2
13.6
8.8
4.5
7 6
11.9
13.0
9.3
5.0
7 9
12.1
12.7
9.2
5.2
7 6
11.5
12.4
9.5
5.7
79
11.0
12.2
9.8
6.0
13.2
51.2
44.5
26.0
13.3
9.3
40.7
67.7
58.2
32.5
8.7
37. 4
67.5
61. 0
39.7
8.6
36.2
64. 6
64.3
44.3
9.0
36.7
63.1
63.2
46.7
8.6
34. 8
62.0
65. 8
50.6
8.1
33. 3
61.1
67.8
53. 9
1.2
.8
3.1
1.8
3.8
2.2
4.3
2.5
4.9
2.6
5.6
3.0
6.3
3.4
14 3
22.1
36.9
48.9
45.6
57.5
51.9
64.7
58.1
66.5
67.3
76.5
75. 3
86.1
44.7
52.2
52.8
53. 6
54.6
55.9 184.6 294. 2 317.4 334. 6 343. 3 365. 6
385.6
$<,) ono-$l4 999
$l:i,000 and over
Total
55.3
1960
Percent distribution
Fiulor $2,000$2,000-$3,999
$4,000 -$5,999
$n 000-$7,999
$j$ <)QO-$9 999
-
--
$30 000-$14,999
$15 000 and over
Total
25
38
20
9
3
16
25
26
16
7
15
23
26
17
8
14
22
24
18
9
14
22
23
17
10
14
21
23
17
10
13
20
22
17
11
7
28
24
14
3
11
23
20
11
3
12
21
19
13
3
11
19
19
13
3
11
18
18
14
2
10
17
18
14
9
16
18
14
3
2
6
4
7
4
8
5
9
5
10
5
11
6
8
12
12
17
14
18
16
19
17
19
18
21
19
22
100
100
100
100
100
100
100
100
100
100
100
100
100
100
Table 8.—Distribution of Consumer Units by Real Income Level, 1929,1941,1947 and 1957-60
i "nder $9 000
.*2.»M)0-$3,999
$ I ,nOO-$5,999
*»».000-$7,999
<iv noO-$9 999
Total
1929
1941
1947
1957
1958
1959
1960
1929
1941
1947
1957
1958
1959
11 5
13.9
11 5
12.0
7 4
12.8
11.7
7 2
11.1
12.6
7 6
11.7
12.5
7 4
11.2
12.2
7 2
11.0
12.2
32
39
15
6
3
28
29
22
11
4
17
29
26
13
7
13
21
24
18
10
14
21
23
17
10
14
20
22
17
10
13
20
22
17
11
5. 2
5
3
9
5
10
5
11
6.
11
6
100
100
100
5.5
2.3
1.0
$U) oun-$14 999
$ 1 5,< )00 and over
j
-
Percent distribution
Number of families and unattached
individuals (millions)
f'amilv personal income in
1960 dollars (before income
tLixes)
1<y
36.1
9.2
4.6
1.8
5. 4
9.4
5.4
5
2.3 \/ 2.1.5
4.8
2.8
2.8
5.9
3.2
6.3
3.4
44.7
53.6
54.6
55.3
55.9
41.4
5.9
2.9
9.7
9.6
5.8
9.8
6.0
\
K
}
^
100
6 /
\
100
100
1960
100
Mav j0
0.3 percent for returns reporting wages
and salaries. Thus, an important
characteristic of the business income
distribution is the relatively wide dispersion of incomes with concentrations
at both very low and high income levels.
The relatively wide dispersion found
for business incomes can be appraised
by examination of the first and third
columns of table 4 and of the accompanying chart which gives the percent
of total earnings (either wage or business) received by each quintile of the
distribution.
It can be seen that the lowest fifth
of the distribution of business earnings
registered a minus income share due to
losses. The percents of total business
earnings remain less than those found
in each of the quintiles of the wage
distribution except in the highest fifth
where the percent of total earnings from
business rises steeply. Part of this
relatively large share found for the
highest quintile, of course, is attributable to the fact that the distribution
contains negative incomes, but a similar though substantially lower percentage is also found when the distribution
is confined only to positive earnings.
For the upper 5 percent the difference
between the two earner distributions
is marked where the percent of aggregate earnings for business returns is
over twice that found for wage earners.
Additional incomes high for business
earnings
With each of the earnings distributions given in table 3 there is associated
a pattern of other incomes which make
up the total incomes of the tax return
units. On the basis of IRS tabulations,
it is possible to estimate average earnings and average additional income for
each earnings class. As will be evident
below, the presence of these other income sources is important in modifying
the character of the earner distributions, particularly in the case of business returns.
Table 5 presents average additional
incomes for each level of wage and
business
earnings. The markedly
higher average of other income for
those returns reporting business earnings is clearly evident. On the average,
business returns received about six
May 1961
SURVEY OF CURRENT BUSINESS
17
Table 9.—Distribution of Consumer Units and Their Family Personal Income by Family Personal Income Level, Selected Years, 1944-59
Family personal income
v be fore income
taxes)
1944
1946
1947
1950
1952
1953
1954
Under $1,000...
$1,000-$! ,999....
$2,000- $2,999....
$3,000-$3,999..__
$4,000-$4,999..__
4, 352
8,108
8, 762
7,723
4, 535
3, 826
7, 600
8,791
8, 590
5,364
3,748
7,370
8, 459
8, 628
5, 725
3, 861
7, 464
8,091
8, 586
7,054
3,282
5,687
6,541
7,636
7, 631
2, 956
5, 554
6, 364
7, 061
7,117
3,071 J8, 241
5,889
6, 509 5,917
7,291 7,339
7,118 7,328
Aggregate family personal income (millions of dollars)
Number of families and unattached individuals (thousands)
I
1955
1944
1956
1957
1958
1959
7,713
5,397
6, 796
7,401
7,641
5,374
6,490
6, 806
7,912
5,687
6, 415
6,755
2,390
7,622 /112,
338
5,431 21,938
6, 049 26, 960
6,319 20. 261
1946
1947
2,017
11,570
22. 007
29, 906
23, 956
1,973
11,231
21,176
30, 045
25, 583
1950
1952
1953
1954
1955
1956
1959
1958
1957
1,943 1,688 1,518 1.571
11,333 8,627 8,438 8,951 } 9, 326 8,688 8,584 8,970 8, 612
20, 273 16,411 15,998 16, 345 14,871 13, 555 13,483 14.286 13,621
29, 983 26, 792 24,817 25,615 25, 81 5 23, 879 22,758 22,458 21,212
31, 533 34, 305 32, 057 32, 055 33, 021 33, 321 30, 623 30, 404 28, 443
$5,000-$5,999_.__ 2, 51 5 3, 065 3, 474 4, 694 6,072 6,152 6, 032 6,321 6,241 6, 201 5, 955
$(),000-$7,499._._ 2, 259 2, 547 3, 151 3, 836 5, 801 6, 379 6, 284 6, 925 7,202 7, 552 7, 451
$7,500-$9,999____ 1,385 1,751 2,170 2,758 4,121 4,768 4,734 5,203 6,115 6,779 6, 975
6,100 13, 739 16, 725 18,957 25, 603 33, 200 33, 702 33, 033 34, 648 34, 208 33, 980 32. 638 33, 520
7,523 14, 942 16, 833 20, 812 25, 578 38, 759 42, 611 41,947 46,311 48, 165 50, 472 49, 843 50, 456
7, 642 11,802 14,905 18, 454 23, 364 34, 660 40, 707 40, 333 44, 468 52, 484 58,152 60, 034 65, 862
$10.000-$! 4, 999
$15,000-$! 9,999. .
20.000-$24,999__.
5, 605
707 1,070 1,199 1,536 2, 041 2, 636 2, 661 3, 068 3,794 4,312 4, 855
332
414
246
386
598
734
745
883 1.112 1,289 1,377
108
143
167
218
432
316
308
313
495
509
378
8,483 12, 784 14,300 18,310 24, 212 31.561 31.856 36, 915 45, 668 51,883 58, 124 67, 327
4.215 5, 692 6, 586 7,083 10,214 12. 557 12. 749 15,129 19,081 22,117 23,518
2,395 3,165 3,700 4, 826 6. 986 6, 821 6, 931 8,382 9, 611 11,006 11.294
76, 514
3,009
294
191
384
140
208
$25,(KH)-$49,999._
383
397
452
512
564
588
4,651 6, 308 6, 879 9,743 12, 633 12, 793 13. 294 15,140 17,242 18, 953 19, 582
84
$50,000 and over.
54
55
40
100
106
115
135
141
98
147
3,607 4,837 4, 902 7, 690 8,675 8, 606 9, 276 10,213 11,546 12,636 12,114
1
Total
40, 880 43, 330 44, 740 48, 890 50, 210 50, 510 51,150 52,170 52, 850 53, 650 54, 620 55, 300 147, 721 170, 705 184, 598 217,262 257, 162 272,186 273, 956 294, 239 317,448 334, 647 343, 265 365, 567
Average (mean)
family personal income.
$3, 614 $3, 940 $4, 126 $4, 444 $5, 122 $5, 389 $5, 356 $5, 640 $6, 007 $6, 238 $6, 285 $6, 611
Percent distribution
Under $1,000__
$1,000-$! ,999....
$2,000-$2,999_...
$3,000-$3,999_...
$4,000-$4,999— _
10.7
19.8
21.4
18.9
11.1
8.8
17.6
20.3
19.8
12.4
8.4
16.5
18.9
19.3
12.8
7.9
15.3
16.6
17.6
14.4
6.5
11.3
13.0
15.2
15.2
5.9
11.0
12.6
14.0
14.1
6.0
11.5 }
12.7
14.3
13.9
15.8
11.3
14.1
14.0
14.6
10.2
12.9
14.0
14.2
10.0
12.1
12.7
14.5
10.4
11.7
12.4
1.6
13.8 If
8.4
9.8
14.9
11.0
18.3
11.4
13.7
$5,000-$5,999
$f>,000-$7,499__..
$7,500-$9,999_.._
6 2
5.5
3.4
7.1
5.9
4.0
7.8
7.0
4.8
9.6
7.9
5.6
12.1
11.6
8.2
12.2
12.6
9.4
11.8
12.3
9.2
12 1
13.3
10.0
11 8
13.6
11.6
11 6
14.1
12.6
10 9
13.6
12.8
11 0
13.6
13.8
$10,000-$14,999..
$15,()00-$19,999__
$20 000-$24,999
1.7
.6
.3
2.5
.8
.3
2 7
'.S
.4
3.1
.8
.4
4.1
1.2
.6
5.2
1.4
.6
5.2
1.5
6
5.9
1.7
7
7.2
2.1
8
8.0
2.4
9
8.9
2.5
9
10.1
$25 000-$49,999
$50,000 and over.
.3
.1
.4
.1
5
.1
.6
2
.8
.2
.8
.2
8
2
9
.2
10
.2
1i
.3
11
.3
Total
•
100.0 100.0 100.0 100. 0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
1
times the other income than did wage
and salary earners. Partnership returns—not included in the table—revealed even higher average amounts of
other income, approximately fourteen
times the figure registered for wage and
salary returns.
It is interesting to note that the patterns of other income in the two distributions are quite different. This can be
seen from the table or in graphic form
for selected classes in the accompanying
chart. Both patterns show relatively
high amounts in the lowest class of
earnings although it is much higher for
business returns. In the case of wage
and salary units average additional income in the lowest class was approximately equal to that of average wage
and salary income itself, while for business returns the additional income was
about five times that of average earnings. It is likely that a substantial component of the larger amounts of other
income for business returns at the lowest
levels of earnings represents the receipt
of supplementary wage income.
The average amounts of other income
in both distributions decrease to a mini3
Digitized for591288°—61
FRASER
1.2
6.8
12.9
17.5
14.0
1.1
6.1
11.5
16.3
13.8
0.9
5.2
9.3
13.8
14.5
0.7
3.3
6.4
10.4
13.3
0.6
3.1
5.9
9.1
11.8
0.6 } ,2
3.3
5.1
6.0
9.4
8.8
11.2
11.7
2.7
4.3
7.5
10.5
2.6
4.0
6.8
9.1
2.6
4.2
6. 5
8.9
2.4
3.7
5.8
7.8
9 3
10.1
8.0
98
9.9
8.7
10 2
iiia
10.0
11 8
ll'.S
10.8
12 9
IS'.I
13.5
12.4
15. 6
14.9
12 1
15^3
14.7
11 8
15.8
15.1
10.8
15.2
16.5
10.1
15.1
17.4
9. 5
14.5
17.5
9.2
13.8
18.0
5.7
2.9
1. 6
7.5
3.3
1. 9
7.7
3.6
2.0
8.4
3.3
2. 2
9.4
4.0
11.6
4.6
2. 5
11.6
4.6
2. 5
12.5
5.1
2. 8
14.4
6.0
3.0
15.5
6.6
3. 3
3. 1
2^4
3. 7
2^8
3. 7
2^7
4. 5
3^5
4 9
3^4
4 7
3^2
4. 8
3'. 4
5. 1
3^5
5 4
3^7
5 7
3^8
16. 9
18.4
6.9 )
3.3
\ 20.9
r -
100. 0
100.0
100.0
100.0
100. 0
100. 0
100.0
100.0
100.0
100.0
5.5
100.0
3.5 I
100.0
100.0
Table 10.—Distribution of Families and Their Family Personal Income by Family Personal
Income Level, 1955-59
Aggregate family personal income
(millions of dollars)
Number of families (thousands)
Family personal income
(before income taxes)
1955
1956
1957
1958
1959
1955
1956
1957
1958
3,948
3,808
5 862
6,561
3, 664
3,345
5,278
6, 539
3, 573
3,279
4,869
5, 827
3,733
3,533
4,685
5,681
3, 617
3, 316
4,308
5,178
4,890
9. 636
20, 703
29, 609
4, 500
8,446
18,617
29,491
4,376
8, 261
17,135
26, 276
4,648
8. 908
16,473
25,640
4,479
8, 353
15,171
23, 369
$5,000-$5,999
$6,000-$7,499
$7,500-$9,999
5,943
6, 704
5 065
5.788
6, 935
5,954
5,660
7,228
6, 586
5,357
7,078
6,760
5,453
7, 087
7,406
32, 599
44,843
43, 292
31,745
46, 393
51, 116
31,040
48, 327
56, 501
29,375
47,377
58, 193
29, 984
47.569
63, 842
$10,000- $14, 999
$15,000-$19,999
$20,000-$24,999
3,002
864
367
3,714
1,089
421
4,217
1,264
483
4,748
1, 349
496
5,482
36, 136
14, 805
8,140
44, 720
18. 698
9, 368
50, 761
21,679
10, 744
56, 861
23, 033
11,015
65, 877
436
110
495
128
544
140
566
134
14,596
9, 690
16, 651
10,951
18, 273
11, 963
18,837
11,373
42,670
43, 350
43, 670
44, 120
268, 939
290, 696
305, 336
311,733
332, 734
$6, 303
$6, 706
$6, 992
$7, 066
$7,430
Under $2,000
$2,000-$2,999
$3,000-$3,999
$4,000-$4,999
...
$25,000- $49,999
$50,000 and over
Total
Average (mean)
personal income
> 2,933
44, 780
family
1959
•
74,090
Percent distribution
Under $2,000
$2,000-$2,999
$3,000-$3,999
$4,000-$4,999
9.3
8.9
13.7
15.4
8.4
7.7
12.2
15.1
8.2
7.5
11.1
13.3
8.5
8.0
10.6
12.9
8.1
7.4
9.6
11.6
1.8
3.6
7.7
11.0
1.6
2.9
6.4
10.1
1.5
2.7
5.6
8.6
1.5
2.9
5.3
8.2
1.3
2.5
4.6
7.0
$5,000-$5 999
$6,000-$7,499
$7,500-$9,999
13.9
15.7
11.9
13.4
16.0
13.7
13.0
16.6
15.1
12.1
16.0
15.3
12.2
15.8
16.5
12.1
16.7
16.1
10.9
16.0
17.6
10.2
15.8
18.5
9.4
15.2
18.7
9.0
14.3
19.2
$10,000-$14,999
$15,000-$19,999
$20 000-$24 999
7.0
2.0
.9
8.6
2.5
1.0
9.7
2.9
1.1
10.8
3.1
1.1
12.2
13.5
5.5
3.0
15.4
6.4
3.2
16.6
7.1
3.5
18.2
7.4
3.5
19.8
$25,000-$49,999
$50 000 and over
1.0
.3
1.1
.3
1.2
.3
1.3
.3
5.4
3.6
5.7
3.8
6 0
3.9
6.0
3.7
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
Total
6.6
100.0
22.3
100.0
SURVEY OF CURRENT BUSINESS
IS
Table 11.—Distribution of Unattached Individuals and Their Family Personal Income by
Family Personal Income Level, 1955-59
Aggregate f amily personal income
(mil ions of dollars)
Number of unattached individuals
(thousands)
Family personal income
(before income taxes)
1955
1956
1957
1958
1959
Under $2,000
$2 000-$2 999
«j53 ooo-$3,999
$4, 000-$ -1,999
4, 293
2, 109
1,477
767
4, 049
2, 052
1,517
863
4, 068
2, 095
1, 621
980
4, 179
2, 1 54
1,730
1,074
4, 005
2,114
1,741
1, 141
4, 436
5, 235
5, 112
3,412
4,188
5, 109
5, 262
3,830
4,209
5, 222
5, 623
4,347
4,322
5, 378
5, 984
4, 764
4, 1 P2
5, 267
6,042
5,074
$5,000-85,999
$f>,000-$7,499
$7 500-$9,999
378
221
138
453
268
161
540
324
193
598
373
215
648
436
236
2,048
1, 468
1,176
2, 463
1,772
1, 368
2,940
2, 145
1,651
3, 263
2, 467
1, 841
3,536
2,887
2,019
$10, 000-$ 14, 999
$15,000-$19,999
$20,000-824,999
60
19
11
81
22
11
95
25
12
107
28
12
123
779
324
242
948
383
243
1,121
438
262
1, 263
485
279
1, 451
$25,000-849,999
$50,000 and over
16
5
17
6
20
22
8
545
523
591
595
680
673
745
741
9,500
9,500
9,980
10, 500
25, 300
26, 752
29,311
31, 532
32,833
$2, 663
$2, 816
$2, 937
$3,003
$3, 121
Total
1956
1955
76
.._
Average (mean)
personal income
1
I
10, 520
family
1957
1958
1959
[
2, 425
Percent distribution
45.2
22.2
15.5
8.1
42.6
21.6
16.0
9.1
40.8
21.0
16.2
9.8
39.8
20.5
16.5
10.2
38.1
20.1
16. 5
10.9
17.5
20.7
20.2
13.4
15.7
19.1
19.7
14.3
14.4
17.8
19.2
14.8
13.7
17.1
19.0
15.1
12.6
16.0
18.4
15.4
4.0
2 3
1.4
4.8
2 8
1.7
5.4
3.2
1.9
5.7
3.6
2.0
6.2
4.1
2.2
8.1
5.8
4.6
9.2
6.6
5. 1
10.0
7.3
5.7
10.3
7.8
5.8
10.8
8.8
6.2
$10,000-$14,999
$15,000-$19,999
$20,000-$24,999
.8
.2
.1
1.0
.3
.1
1.0
.3
.1
1.2
'.2
.1
3.1
1.3
1.0
3.6
1.4
.9
3.8
1.5
.9
4.0
1.5
.9
4.4
$25,000-$! 9 999
$50.000 and over
.2
.1
.2
.1
.2
.1
.2
.1
2.2
2.1
2.2
2.2
2.3
2.3
2.4
2.4
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
Under $2,000
$2,000-82,999
$3 000-$3 999
$4, 000-$ 1,999
$5,000-85,999
$6 000-87 199
$7 500-$9,999
-
- -
.7
Total
100.0
7.4
100.0
May
mum in the $4,000-$5,000 class of earnings with the average level for business
returns remaining higher. With some
irregularity (probably due to estimating
procedures) average amounts rise from
the minimum in each succeeding class of
earnings. But it is interesting to note
that the rise is much more pronounced
in the case of wage and salary returns
which attained an average additional income of about $16,700 for the $25,000
and over class. This was achieved despite the overall lower average of other
income. For business returns the average of about $10,400 of additional income reached in the highest earnings
class is about 60 percent of that for
wage earners.
Other incomes at such high levels contain a large percentage of property income, including capital gains. The fact
that business returns show a lower average amount is probably due to the tendency of businessmen to reinvest in their
own business rather than to seek investment opportunities which would involve
high supplementary incomes. This finding is consistent with the belief, gener-
Table 12.—Distribution of Farm Operator and Nonfarm Families and Their Family Personal Income by Family Personal Income Level,
1955-59 *
Farm operator families
Family personal
income (before
income taxes)
Number of families (thousands)
Nonfarm families
Aggregate family personal income
(millions of dollars)
Number of families (thousands)
Aggregate family personal income
(millions of dollars)
1955
1956
1957
1958
1959
1955
1956
1957
1958
1959
1955
1956
1957
1958
1959
1955
1956
1957
1958
Under $2,000
$2,000-$2,999
$3 000-$3,999
$4 0()0-$4 999
1, 600
972
546
1,508
944
754
536
1,427
911
736
529
1,181
837
691
550
1, 254
846
692
517
1,996
2, 409
2,680
2,447
1,887
2,339
2, 622
2,402
1,793
2, 258
2, 562
2, 366
1,515
2,082
2,408
2,461
1,591
2,101
2,414
2,309
2,347
2,837
5,090
6,015
2,156
2,401
4,525
6,002
2,146
2,368
4,133
5,298
2, 552
2, 696
3.995
5, 130
2, 364
2,470
3,616
4, 661
2,891
7,227
18, 023
27, 163
2,612
6,107
15,995
27, 090
2, 583
6,003
14, 573
23, 910
3,133
6, 826
14, 065
23, 179
2,888
6, 253
12, 757
21, 059
$5,000-$5,999
$6,000-87,499
$7 500-$9 999
- - --
383
336
240
387
344
249
389
353
255
410
419
327
394
377
277
2,093
2,232
2, 059
2,116
2,292
2,130
2,127
2,354
2,189
2, 249
2,797
2,791
2,157
2, 521
2,376
5,560
6,368
4,825
5,400
6, 591
5, 706
5, 271
6.875
6,330
4, 946
6,659
6,433
5,058
6,710
7,128
30, 507
42, 610
41, 233
29, 629
44, 101
48, 986
28,914
45, 973
54, 312
27, 125
44, 580
55, 402
27, 827
45, 047
61,467
.- -
153
158
44
19
164
46
19
211
64
25
180
1, 830
721
395
1,896
751
410
1,957
787
427
2,510
1,078
567
2,146
2,850
822
349
3,555
1, 046
402
4. 054
1,218
464
4,538
1,286
471
5,302
34, 305
14,084
7,746
42, 824
17, 947
8,957
48, 804
20, 892
10,317
54, 351
21,955
10,449
63, 731
18
21
4
21
5
22
5
28
6
694
371
720
387
714
431
917
558
415
105
473
124
522
135
538
13, 902
9,318
15, 932
10, 564
17, 559
11,531
17, 920
10, 815
_ _ _ . 5,087
4,969
4,856
4,749
4,641 19, 927 19, 952
19, 965
21, 933
20, 249
37, 583
38, 381
38,814
39, 371
$3, 917 $4, 015
$4, 111
$4, 618
$4, 363
$10,000-814,999
$15 000-$19,999
$20 000-$24 999
$25 000-849,999
$50 000 and over
Total.
- -
•
104
Average (mean) family
personal income
• 2, 634
2,830
1959
• 71, 456
40, 139 249,012 270, 744 285, 371 289, 800
312, 485
$6, 626
$7, 054
$7, 352
$7, 361
$7, 785
Percent distribution
Under $2,000
$2,000-82,999
$3,000-$3,999
$4 000-$4 999
31.5
19. 1
15.2
10.7
30.3
19.0
15.2
10.8
29.4
18.8
15. 1
10.9
24.9
17.6
14.6
11.6
27.0
18.2
14.9
11.1
10.0
12. 1
13.4
12.3
9.5
11.7
13.1
12.0
9.0
11.3
12.8
11.8
6.9
9.5
11.0
11.2
7.9
10.4
11.9
11.4
6.3
7.6
13.5
16.0
5.6
6.3
11.8
15.6
5. 5
6. 1
10.7
13.7
6.5
6.8
10.2
13.0
5.9
6.2
9.0
11.6
1.2
2.9
7.2
10.9
1.0
2.3
5.9
10.0
0.9
2.1
5. 1
8.4
1.1
2.4
4.8
8.0
0.9
2.0
4. 1
6.7
$5 000-$5 999
$6,000-87,499
$7,500-$9,999
7.5
6.6
4.7
7.8
6.9
5.0
8.0
7.3
5.3
8.7
8.8
6.9
8.5
8.2
6.0
10.5
11.2
10.3
10.6
11.5
10.7
10.7
11.8
11.0
10.3
12.8
12.7
10.7
12.4
11.7
14.8
16.9
12.8
14.1
17.2
14.9
13.6
17.7
16.3
12.6
16.9
16.3
12.6
16.7
17.8
12.2
17.1
16.6
10.9
16.3
18.1
10.1
16.1
19.0
9.4
15.4
19.1
8.9
14.4
19.7
$10,000-814,999
$15 000-$ 19 999
820,000-824,999. .. . _ _
3.0
.8
.4
3.2
.9
.4
3.4
.9
.4
4.4
1.3
.5
3.9
9.2
3.6
2.0
9.5
3.8
2.1
9.8
3.9
2.1
11.4
4.9
2.6
10.6
7.6
2.2
.9
9.3
2.7
1.0
10.4
3. 1
1.2
11.5
3.3
1.2
13.2
13.8
5.7
3.1
15.8
6.6
3.3
17.1
7.3
3.6
18.7
7.6
3.6
20.4
.4
.1
.4
.1
.4
.1
.6
.1
3.5
1.9
3.6
1.9
3.6
2.2
4.2
2.5
1.1
.3
1.2
.3
1.3
.4
1.4
.3
5.6
3.7
5.9
3.9
6.2
4.1
6.2
3.7
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
$25,000-$49,999
$50,000 and over
Total _
I 2°
100.0
\ 13.0
100.0
1. For data prior to 1953, see discussion on page 19 of April 1958 issue of Survey of Current Business.
•
7.0
100.0
22.9
100.0
May 1061
SURVEY OF CURRENT BUSINESS
19
Table 13.—Number of Consumer Units and Perscms, and Aggregate and Average Family Personal Income, 1955—59
Families and unattached individuals
Number of persons
Year
Number of
consumer
units
(millions)
Total
(millions)
Average
number
per
consumer
unit
Families
Family personal income
Average income
Amount
(billions
of dollars)
Per
Peiconsumer capita
unit
(dollars)
(dollars)
Number of persons
Unattached individuals
Family personal income
Average Amount
Number of
Per
Total
families
family
number (billions
per
(millions) (millions)
of dollars) (dollars)
family
Number of
Per
unattached
capita individuals
(dollars) (millions)
Family personal
income
Amount
(billions
of dollars)
Per
capita
(dollars)
1955
52.2
162.7
3.12
294.2
5,640
1,808
42.7
153. 2
3.59
268. 9
6,303
1,755
9.5
25.3
2, 663
195(3
52.8
165.8
3.14
317.4
6,007
1, 915
43.4
156.3
3.60
290.7
6,706
1,860
9.5
26.8
2, 816
1957
53.6
169.0
3.15
334.6
6,238
1,980
43.7
159.0
3.64
305.3
6,992
1,920
10.0
29.3
2,937
1958
54.6
172.1
3.15
343.3
6,285
1,995
44.1
161.6
3.66
311.7
7,066
1,930
10.5
31.5
3,003
1959
55.3
175.1
3.17
365.6
6,611
2,088
44.8
164.5
3.67
332.7
7,430
2,022
10.5
32.8
3,12
ally held, that entrepreneurs find more
profitable investment—or necessitous
investment—in their own enterprises,
and prefer the greater control afforded
by self-financing to the use of external
funds.
Business earnings distribution
modified by other incomes
The second and fourth columns of
table 4 present the share of aggregate incomes received by each quintile (fifth)
of wage and business earners when
ranked by the size of their adjusted
gross income, that is, after the combination with other incomes.
Compared with the distributions by
size of earnings which are presented in
the same table, it is seen that both the
wage earner and business income distributions are significantly modified by
the inclusion of other income. In the
case of the wage earners, both of the
two lowest quintiles experienced increased shares of total income, reflecting
the considerable augmentation of low
wage incomes already referred to in connection with the pattern of other income. Similarly, the highest quintile
and upper 5 percent show increased proportions of total income again reflecting
the mounting average amounts of other
income at the higher levels. These extreme quintiles experienced increases at
the expense of the two middle fifths
where a low in average additional income was previously noted. The net
effect of these changes is a small but
significant shift toward a larger dispersion of total income.
The effect on the distribution of
business earnings is much more marked.
In this case, the lowest three quintiles
experienced
increases in their shares of
total income. In the lowest, where a
relatively large average amount of other
income was found, the increase was
sufficient to result in a positive income
share. As previously noted, this fifth
of income recipients supplements its
entrepreneurial income with substantial
outside wage incomes. Unlike the ef-
fect noted for wage earners, however,
the share of the highest quintile and
upper 5 percent actually decreased.
The net effect of the combination with
other sources of income for business
returns was, unlike the case for wage
earners, a marked movement toward
smaller income dispersion.
Table 14.—Distribution of Family Personal Income and Federal Individual Income Tax
Liability Among Quintiles and Top 5 Percent of Consumer Units, 1955-59 l
Percent distribution of—
Quintile
Mean amount of—
Tax
rate
(percent)
Family
personal
income
Tax
liability
Aftertax
income
Family
personal
income
(dollars)
Tax
liability
(dollars)
Aftertax
income
(dollars)
4.8
11.3
16.4
22.3
45 2
1.4
6.0
10.9
18.9
62.8
5.2
11.9
17.0
22.7
43.2
1,355
3,200
4,634
6,290
12, 722
39
165
298
520
1,728
1,316
3,035
4,336
5,770
10, 994
100.0
100.0
100.0
5,640
550
5,090
9.8
20.3
39.2
18.2
22, 893
4,317
18, 576
4.8
11.3
16.3
22.3
45.3
1.5
6.2
11.0
19.0
62.3
5.2
11.9
16.9
22.6
43.4
1,437
3,403
4,898
6, 691
13, 604
46
188
333
571
1,880
1,391
3,215
4,565
6,120
11, 724
Total
100.0
100.0
100.0
6,007
604
Top 5 percent
20.2
38.5
18.1
24, 210
4,653
19, 558
4.7
11.1
16.3
22.4
45.5
1.5
6.2
11.3
18.9
62.1
5.0
11.7
16.9
22.8
43.6
1,462
3,471
5,087
6,983
14, 185
48
196
356
596
1,954
Total
100.0
100.0
100.0
6,238
Top 5 percent
20.2
38.3
18.1
25, 139
4.6
10.9
16.2
22 7
45.6
1.4
6.0
11.2
19.0
62.4
5.0
11.4
16.8
23.0
43.8
1,449
3,430
5,103
7,116
14, 325
43
183
344
584
1,922
100.0
100.0
100.0
6,285
615
5,669
9.8
19.9
38.7
17.8
24, 974
4,760
20, 214
4.5
10.9
16.2
22.7
45.7
1.5
6.1
11.5
18.9
62.0
4.9
11.4
16.8
23.1
43.8
1,502
3,583
5,367
7,495
15, 106
50
209
391
645
2,113
Total
100.0
100.0
100.0
6,611
Top 5 percent
19.9
38.0
17.8
26, 325
1955: Lowest
2
3
4
Highest
Total
Top 5 percent
1956: Lowest
_
3
4
Highest
1957' Lowest
2
3
4
Highest
--
1958* Lowest
2
3
4
Highest
Total
Top 5 percent
1959' Lowest
2
3
4
Highest
2.9
5.1
6.4
8.3
13.6
Lower income
limit of Quintile 2
Bef oreAftertax basis tax basis
(dollars) (dollars)
2,390
3,920
5,370
7,410
2,280
3,710
4,980
6, 750
18.9
13, 070
11,780
3.2
5.5
6.8
8.5
13.8
2,540
4,170
5,680
7,960
2,420
3,920
5, 240
7, 260
19.2
13, 960
12,480
1,413
3,275
4,731
6,386
12, 232
3.3
5.6
7.0
8.5
13.8
2,590
4,280
5,940
8,320
2, 460
4,020
5,470
7, 590
630
5,608
10.1
4,822
20, 317
19.2
14, 580
12, 990
1,406
3,246
4,760
6,532
12,403
2.9
5.3
6.7
8.2
13.4
2,550
4,270
6,010
8,530
2,430
4,020
5, 540
7, 820
19.1
14, 720
13, 100
1,451
3,374
4,976
6,850
12, 993
3.3
5.8
7.3
8.6
14.0
2,650
4,480
6,290
9,000
2,510
4, 190
5,790
8, 230
682
5,929
10.3
5,181
21, 145
19.7
15, 540
13, 670
5,403 *
10.0
1. Consumer units are ranked by size of family personal income. In addition to April 1958 issue of Survey of Current
Business, see table 3 of "Income Distribution in the United States, by Size, 1944-50."
2. Rounded to nearest $10.
SURVEY OF CURRENT BUSINESS
20
TECHNICAL NOTE
May 1961
the same status as other distributions the regular series. One basic difference
included in the OBE series. They are was the use of the IRS tax return data
the results of various adjustments for directly without first adjusting the
comparability made to distributions distributions to exclude statutory gains
constructed elsewhere.
and losses. Cross tabulations for the
An account of some of the procedures separation of tax returns into various
used to adjust these distributions can categories of family membership groups
be found in "Size Distribution of In- and combination into family units,
come Since the Mid-Thirties" by Gold- which were constructed on the basis of
snith et al., published in The Review of returns exclusive of capital gains and
Economics and Statistics, February 1954 losses, were used for purposes of these
and, by the same author, in "The approximations without adjustment for
Relation of Census Income Distribu- change in concept. Use of these cross
tion Statistics to Other Income Data" tabulations resulted in a family distriStudies in Income and Wealth, Vol. 23, bution inclusive of statutory gains.
National Bureau of Economic Research,
The relationship between the disNew York, 1958.
tribution exclusive of capital gains and
The methods used to estimate the that inclusive of statutory gains was
distribution of consumer units by size used, with appropriate modification, to
of family personal income inclusive of adjust the former to include total
capital gains and losses followed rather capital gains.
closely the procedures used to construct
The estimates of the earnings dis-
The family personal income distributions in this article were constructed
primarily on the basis of data from
Federal individual income tax returns
and from annual surveys of family income conducted by the Census Bureau.
An account of the procedures used to
develop the estimates can be found in
the technical note to the article on
size distributions published in the April
1958 issue of the SURVEY.
In order to permit comparison with
selected prewar years, the distributions
for 1929 and 1941—given in terms of
1960 dollars—are published in the
SURVEY for the first time. It is important to note, however, that the procedures which underlie these distributions differ substantially from those
used by OBE and, hence, do not have
Table 15.—Distribution of Federal Individual Income Tax Liability of Consumer Units, Average Tax, Average Income, and Tax Rate, by
Family Personal Income Level, 1955-59
1955
1956
Federal individual
income tax liability
Average
family
personal
income
(dollars)
family personal income
(before income taxes)
Amount
(millions
of
dollars)
Percent
distribution
Average
(dollars)
Taxrate
(percent)
1957
Federal individual
income tax liability
Amount
(millions
of
dollars)
Percent
distribution
Average
family
personal
income
Average (dollars)
Federal individual
income tax liability
Tax
rate
(percent)
(dollars)
Amount
(millions
of
dollars)
Percent
disti ibution
Average
(dollars)
Average
family
personal
income
(dollars)
Tax
rate
(percent)
204
684
1,387
2,047
0.7
2.4
4.8
7.1
25
116
189
279
1,132
2,513
3,518
4,506
2.2
4.6
5.4
6.2
190
655
1,323
2, 093
0.6
2.0
4.2
6.6
25
121
195
283
1,126
2, 511
3,514
4,502
2.2
4.8
6.5
6.3
197
650
1,277
1, 935
0.6
1.9
3.8
5.7
26
121
197
284
1, 123
2,509
3,507
4,499
2.3
4.8
5.6
6.3
2,585
3,983
4,052
9.0
13.9
14.1
409
575
779
5,482
6,688
8,547
7.5
8.6
9.1
2,572
4,147
4,776
8.1
13.0
15.0
412
575
781
5,481
6,687
8,583
7.5
8.6
9.1
2, 533
4,271
5,191
7.5
12.6
15.4
408
566
766
5,480
6, 683
8, 578
7.5
8.5
8.9
$10,000-$] 4,999
$1 5,000-$19,999
$20,000-$24,999
3,727
1,944
1,322
13.0
6.8
4.6
1,215
2,200
3,496
12, 031
17, 129
22, 170
10.1
12.8
15.8
4,600
2, 443
1,509
14.4
7.7
4.7
1,212
2, 197
3,494
12,037
17, 161
22, 255
10.1
12.8
15.7
5, 122
2,772
1,691
15.2
8.2
5.0
1,188
2,150
3,417
" 12,032
17, 154
22, 244
9.9
12. 5
15. 4
$25,000-$49,999
$50,000 and over
3,160
3,605
11.0
12.6
6,997
31, 298
33, 524
88, 663
20.9
35.3
3,587
4,005
11.2
12.5
7,004
29, 771
33, 667
85, 810
20.8
34.7
3,867
4,294
11.4
12.7
6,859
29, 143
33, 623
85, 750
20.4
34.0
28, 700
100.0
550
5,640
9.8
31, 900
100.0
604
6,007
10.0
33, 800
100.0
630
6,238
10.1
Under $1,000.
$2,000-$2,999
$3,000-$3,999
$4 000-$4 999
«t,5 000~$5,999
$6,000-$7,499
$7,500-$9,999.
_ _
_
Total
.
1959
1958
Federal individual
income tax liability
Family personal income (before income taxes)
Amount
(millions
of
dollars)
Under $2,000
$2,()00-$2,999
$3 000-$3,999
$4,000-$4,999
__
$5,000-$5,999
$6,000-$7,499
$7 500-$9,999
_
.
_
_
_ _
.__
.
.
_
$10 000-$14,999
$15,000-$19,999
$20,000-$24,999
$25,000-$49,999
$50,000 and over.
Total
_ .
_
Percent
distribution
Average
(dollars)
Average
family
personal
income
(dollars)
Federal individual
income tax liability
Tax rate
(percent)
Amount
(millions
of
dollars)
Percent
distribution
Average
(dollars)
Average
family
personal
income
(dollars)
Tax rate
(percent)
187
624
1.212
1,850
0.6
1.9
3.6
5.5
24
110
189
274
1,134
2,512
3,501
4,501
2.1
4.4
5.4
6.1
194
646
1,228
1, 827
0.5
1.7
3.3
4.8
26
119
203
289
1,130
2,508
3,507
4,501
2.3
4.7
5.8
6.4
2,330
4,036
5,102
6.9
12.0
15.2
391
542
731
5,481
6,690
8,607
7.1
8.1
8.5
2,484
4,244
5,788
6.6
11.3
15.3
407
564
757
5,495
6,707
8,618
7.4
8.4
8.8
5, 451
2,961
1,738
16.2
8.8
5.2
1,123
2,150
3, 416
11, 972
17, 074
22, 197
9.4
12.6
15.4
6,527
17.3
1,165
12, 012
9.7
14, 762
39.2
4,906
25,428
19.3
4,031
4,078
12.0
12.1
6,857
28, 893
33, 311
85, 832
20.6
33.7
33, 600
100.0
615
6,285
9.8
37, 700
100.0
682
6,611
10.3
SURVEY OF CURRENT BUSINESS
Mav 1961
tributions were made by applying
appropriate formulas for approximating
average incomes to each of the brackets
in the IRS distributions of tax returns.
An account of some of these formulas
can be found in the supplement to the
SURVEY, " Income Distribution in the
United States, by Size, 1944-50," U.S.
Government Printing Office, Washington 25, D.C., 1953. The estimates
of income other than earnings were
derived in a similar manner using
IRS cross tabulations relating earnings
sources to total adjusted gross income.
Definition of terms
The definitions of families and unattached individuals are those adopted
by the Census Bureau. Families are
units of two or more persons related
by blood, marriage, or adoption and
21
sources, including wage and salary
receipts (net of social insurance contributions), other labor income, proprietors' and rental income, dividends,,
personal interest income, and transfer
payments. Also included are certain
nonmoney items such as wages in
kind, the value of food and fuel produced and consumed on farms, the net
imputed rental value of owner-occupied
homes, and imputed interest.
Aggregate Federal individual income
tax liability is defined as the total
liability reported on individual income
tax returns, plus an estimate for
amounts uncovered by subsequent
audit, minus the liability of military personnel not living with their families,,
and minus liability on net capital gain.
For a full discussion of these concepts
the reader is referred to the above
mentioned supplement to the SURVEY*
residing together. Unattached individuals are persons not living in institutions or with relatives. The total
number of families and unattached
individuals is estimated as of the end
of the year, and, together, are referred
to as consumer units.
Farm operator families are those
who operate farms as defined by the
Census of Agriculture. The nonfarm
group includes all multiperson units
other than farm operator families.
Apart from some adjustments to
remove income received by institutional residents (including military personnel not living with their families)
or retained by nonprofit institutions,
private trust, pension and welfare
funds, the concept of family personal
income is identical to that of personal
income in the national income accounts.
The latter includes income from all
Table 16.—Distribution of Consumer Units and of Family Personal Income After Federal Individual Income Tax Liability, by Level of
After-Tax Income, 1955-59
1955
Family personal income
after Federal individual
income tax liability
Under $2,000
$2,000-$2,999
$3,000-$3,999
$4,000-$4,999
_.
$5,000-$5,999
$6,000-$7,499
$7,500-$9,999
_
._
$10,000-$14,999
$15 000-$19,999
$20,000 and over _
Total
Number of
families
and
unattached
individuals
(thousands)
After-tax family
personal income
Aggregate
(millions of
dollars)
Average
(dollars)
1956
Number of
families
and
unattached
individuals
(thousands)
Percent
distribution
Number
Aftertax income
After-tax family
personal income
Aggregate
(millions of
dollars)
Average
(dollars)
1957
Percent
distribution
Number
Aftertax income
Number of
families
and
unattached
individuals
(thousands)
After-tax family
personal income
Aggregate
(millions of
dollars)
Number
tax income
10, 119
16,401
28, 039
36, 826
1,155
2,519
3,508
4,493
16.8
12.5
15.3
15.7
3.8
6.2
10.5
13.9
8,212
5, 984
7,591
8,152
9,459
15,076
26, 686
36, 627
1,152
2,519
3,515
4,493
15.5
11.3
14.4
15.4
3.3
5.3
9.3
12.8
8,131
5,959
7,185
7,649
9,334
14, 994
25, 207
34,431
1,148
2,516
3,508
4,502
15.2
11.1
13.4
14.3
3.1
5. 0
8.4
11.4
6,694
6,050
4,032
36, 665
40, 275
34, 303
5,477
6,657
8,509
12.8
11.6
7.7
13.8
15.2
12.9
6,799
6,378
4,932
37, 295
42, 632
41, 900
5,485
6,685
8,516
12.9
12.1
9.3
13.1
14.9
14.7
6,868
6,821
5,542
37, 731
45, 583
47, 205
5,494
6,683
8,517
12.8
12.7
10.3
12.5
15.2
15.*
2,590
729
618
52, 170
30, 836
12,437
19, 638
265, 539
11,903
17, 061
31,775
5,090
5.0
1.4
1.2
100.0
11.6
4.7
7.4
100.0
3,205
883
714
52, 850
38, 176
15,026
22, 572
285,548
11,911
17, 007
31, 621
5,403
6.1
1.7
1.3
100.0
13.4
5.3
7.9
100.0
3,675
1,023
797
53, 650
43, 786
17, 392
25, 184
300,847
11,914
17,001
31,613
5,608
6.8
1.9
1.5
100.0
14.6
5.8
8.3
100.8
Family personal income after Federal individual income tax
liability
„_
Percent distribution
Number
After-tax
income
After-tax family
Number of
families
personal income
and unattached
individuals Aggregate
Average
(thousands) (millions of (dollars)
dollars)
Percent distribution
Number
After-tax
income
8,363
6,294
7,058
7,439
9,657
15, 851
24,751
33,485
1,155
2,518
3,507
4,501
15.3
11.5
12.9
13.6
3.1
5.1
8.0
10.8
8,121
5,987
6,684
7,070
9,380
15,055
23,453
31, 850
1,155
2,515
3,509
4,505
14.7
10.8
12.1
12.8
2.8
4.6
7.1
9.7
...
6,615
6,791
6,046
36, 359
45, 379
51, 704
5,497
6,683
8,552
12.1
12.5
11.1
11.7
14.7
16.7
6,689
7,194
6,637
36,718
48, 102
56, 905
5,489
6,686
8,574
12.1
13.0
12.0
11. 2
4,160
1,042
812
54, 620
49, 504
17, 703
25, 272
309, 665
11, 900
16, 986
31,151
5,669
7.6
1.9
1.5
100.0
4,759
2, 159
55, 300
56, 613
49, 791
327, 867
11,897
23, 057
5,929
8.6
3.9
100.0
17.3
15. 2
. . _
-
After-tax family
Number of
families
personal income
and unattached
individuals Aggregate
Average
(thousands) (millions of (dollars)
dollars)
1959
.
..
$5,000-$5,999
$6,000-$7,499
$7,500-$9,999
$10,000-$14,999
$15,000-$19,999
$20,000 and over
Total
After-
Average
(dollars)
8,758
6,510
7,992
8,197
1958
Under $2,000
$2,000-$2,999
$3,000-$3,999
$4,000-$4,999
Percent
distribution
16.0
5.7
8.2 }
100.0
14. r
17.4
100. ft
BY CLEMENT WINSTON
Retail Trade and Use of Services:
R,
LETAIL sales have shown a firming
tendency recently, following a decline
of 5 percent from the high monthly
figures reached in the spring of last
year, on a seasonally adjusted basis.
Sales this spring have advanced from
the January-February lows, with all
the major groups sharing in the recovery.
Fluctuations have resulted mainly
from the shifting demands for durable
goods which, despite the improvement
in recent months, are still relatively
weak. Nondurable goods stores' sales,
which had fallen off somewhat from
their high point reached in April a year
ago, had remained generally steady in
total through the remainder of the year.
Beginning in January, sales in all these
lines strengthened, and in the MarchApril period were slightly above a year
ago.
Food and department store sales
were showing the largest relative gains
over the year.
Recent regional experience
During the past year changes in the
overall economy have had sizable differential effects on the various regions,
largely reflecting the variations in
cyclical response of their leading industries and the divergent movements in
farm and nonfarm income.
Data on department store sales for
the Federal Reserve districts published
by the Board of Governors of the Federal Reserve System arid retail data for
four very broad regions covering sales
of organizations with less than eleven
outlets provide a basis for reviewing
regional tendencies. The sales variations in the 1959-60 period tied in generally with the changes in personal
income for those regions which were
discussed in the April 1961 issue of this
SURVEY. The decline in farm income
and lack of growth in the oil industry
retarded activity in such States as
22
Regional Patterns of Consumer Purchasing
Texas and Oklahoma. In the Southeast a drop in cotton production affected
sales in Mississippi and Arkansas while
mining in West Virginia continued its
secular decline. These were some of
the factors that slowed the sales advance
in these regions as well as other farm
areas.
In the northeastern States, including
New York, factory payrolls for most of
the States matched, while payrolls of
the distributive industries, services, and
contract construction expanded relatively more than, the national averages
from 1959 to 1960 with a beneficial
effect on retail sales.
In the early months of 1961, the San
Francisco district showed a rise in
department store sales from the fourth
quarter of 1960, seasonally adjusted,
while all the other districts registered
no change or declines. The largest
decreases, from 4 percent to 5 percent,
were indicated for the Chicago and
CONSUMER INCOME and PURCHASING
• Retail Sales Have Almost Matched Income
Growth With More Cyclical Response
• Advance in Services Has Outpaced
Income Since 1953
Billion $ (ratio scale)
Disposable Personal Income
400
300
Retail Sales
\
200
Service Expenditures
100
80
60
1953
1955
1957
1959 1961
Data: Census 8 QBE
U. S. Department of Commerce, Office of Business Economics
61-5-10
Atlanta districts. It is difficult to
assess such short-term regional variations since the movements were partially
obscured by the effect of the unusual
weather conditions in many areas.
Growth rates in consumption and
income
In the past 10 years expenditures for
goods and services have shown widely
differing growth rates (see chart),
though as pointed out many times in
the SURVEY analyses service expenditures experienced a long lag during and
after the war before such outlays were
restored to a more usual relationship
to income.
Largely as a result of this lag, sales
at retail stores and consumer expeditures for goods have expanded at an
average rate of about 3K percent a year
while expenditures for services advanced at a rate close to 7 percent.
Part of this was a "catching up" in
prices of services which in recent years
advanced much more rapidly than
goods, a reversal of the war and immediate postwar experience. Service
prices over the past 10 years rose about
30 percent while commodity prices increased less than 7 percent. Thus, on
a deflated basis, expenditures for goods
rose at a rate of about 2.8 percent a
year and services at 3.8 percent. Real
disposable income over this period rose
3.2 percent per annum.
Prior to the war, exclusive of the
depression years, service expenditures
accounted for about two-fifths of total
spending. This proportion declined to
about a third during the war years because of restrictions and shortages.
Since then it has risen gradually and in
1959 and 1960 was again about twofifths of the total.
Although growth rates have varied
SURVEY OF CURRENT BUSINESS
May 19(31
from one region to another, the charts
show that the pattern of more rapid
growth in service expenditures to a
position of more normal relationships
has naturally occurred in each geographical area.
Regional Distribution of Sales
Completion of the tabulations from before, continued. The indicated averthe 1958 Census of Business makes age sales per store was $77,000 in
available new data for sales of retail 1948; nearly $100,000 in 1954; and
stores, and for selected services, by $112,000 in 1958. Part of this rise is
regions and States. Similar data for accounted for by the steady rise in
other Census years, supplementary in- prices. The increase in employment
formation for services from other sour- on a per store basis about matched the
ces, and the Office of Business Eco- rise in volume.
Food stores continued to show the
nomics studies of personal income by
most
significant trends to larger inStates are used in this analysis of regional changes in consumption patterns. dividual stores, with average sales up
Although information is considerably from $103,000 in 1954 to $136,000 in
more restricted for intercensal years the 1958. Food prices rose about 7 percent
fact that the regional structure of dis- on the average in the 1954-58 period
tribution generally changes rather implying that the average activity per
slowly, and only gradually, makes these store in physical terms was up nearly
regional data useful in appraising the a fourth, about equal to the increase
in employment per store.
current market situation.
Other stores that showed substantial
Retail sales growth 1954-58
increases in sales per store from 1948
In the 4-year period from 1954 to to 1958 were drug stores whose dollar
1958, the last two Census years, retail sales were up more than a fourth, and
sales increased $30 billion, or 18 per- gasoline service stations and apparel
cent. In this same period the popula- stores with increases of about a sixth.
tion of the country rose 7% percent and Even after adjustment for price changes
the increase in the business done in the
personal income 25 percent.
Prices of goods sold at retail stores average store in these groups was
increased from 5 percent to 6 percent significant.
In the general merchandise field the
so that on a "real" basis the volume of
goods moving in retail channels was up physical volume of sales per store
by something more than 10 percent. remained about unchanged but the
Taking account of the population growth number of stores has gone up about a
the rise in "real" per capita retail pur- sixth. This in part reflects the setting
chases figures out to around 3 percent up of branches in new shopping centers
in the fast growing suburban market,
in this period.
The largest percentage increases in which are usually smaller than the
total sales from 1954 to 1958, from a parent store downtown.
fifth to about a third, were shown for
general merchandise, food and drug Sales in central city districts decline
In the major cities throughout the
stores and gasoline service stations.
Advances of from an eighth to a sixth country the shift of an increasing share
were reported by furniture, appliance of the sales market from the center
and apparel stores and in eating and of the city to the outlying sections of
drinking places. Lesser increases were the metropolitan areas continued. As
indicated for the lumber, building- the central city districts have become
hardware group (including farm imple- more denuded of residential sections
ment dealers), and automotive stores. and as urban transportation has become
The trend to larger individual estab- increasingly difficult, their relative imlishments in retail merchandising, which portance in the sales picture has behad been pointed out in the SURVEY come somewhat less though they are
23
still the big individual trading areas.
But in many of the large cities sales for
the stores in the central city actually
declined from 1954 to 1958 while those
of stores in the remainder of the
metropolitan area showed substantial
advances.
REGIONAL CHANGES IN SERVICES AND
RETAIL SALES FROM 1954 TO 1958 ARE
HIGHLY RELATED TO INCOME
Southern and Western States Have Shown
the Greatest Relative Increases,
North Central States the Smallest
60
Mountain
50
/
Changes in Service Receipts
Related to Change in
Income 1954-58
So. Atlantic
40
E. No. Central
30
Change in Sales
Pacific
Related to Change in
• ./
_ •* / Mounfain
\
Income 1954-58
So. Atlantic
20
W. So. Central^/
U S A/
^t. So. Centra/
Mid. Atlantic^
\ New
E. No. Central
England
W. No. Central
10
10
20
30
40
Percent Change in Personal income, 1954 to 1958
U. S. Department of Commerce, Office of Business Economics
61 - 5 - U
The greatest shifts were indicated for
general merchandise and apparel stores,
the establishments which account for
the bulk of the retail trade activity in
the central city district. In 1954, general merchandise stores in the central
city district accounted on the average
for about two-thirds of all such sales in
the entire metropolitan area. In 1958,
this share had been cut to somewhat
over half. The comparable proportions in the apparel group were about
three-fifths and one-half.
Regional variation in sales
In this discussion a comparison is
made between sales of retail stores and
selected service receipts and personal
income in each State or region. It
should not be assumed that the retail
SURVEY OF CURRENT BUSINESS
24
sales and service receipts cover all consumer expenditures for goods and
services. A substantial proportion of
sales of retail stores does not represent
consumer expenditures and this proportion differs by region; nor do all
purchases of goods pass through retail
channels.
Only fragmentary data on service
expenditures by States are available.
The service industries covered in the
Census of Business reported receipts
of $32 billion in 1958. To this were
added other estimates available on a
State basis for gas, electric utilities, life
insurance, and domestic services to
bring the total figure to $46 billion.
This compares with total consumer expenditures for all services in 1958 of
$114 billion, though of this $11 billion
represented imputations for services "in
kind," not represented by actual trade.
Table 1.—Sales of Retail Stores by Regions and States in Census lYears, and Average Annual
Rate of Growth, 1948-58 and 1954-58
Average annual
rate of growth
Sales of retail stores
1929
1933
1935
1939
1948
1954
1958
1948-58
1954-58
(Percent)
(Millions of dollars)
47,769
24, 126
32, 338
41, 445
128, 849
169, 968
199, 646
4.5
4.1
3,701
298
179
148
2,013
312
750
2,080
175
106
75
1,150
161
414
2,639
225
147
96
1,416
213
541
3,247
278
181
122
1,698
269
699
8, 321
741
461
332
4,166
694
1,927
10,911
924
604
380
5,539
848
2,618
12, 452
1, 031
704
443
6,242
929
3,103
4.1
3.4
4.3
2.9
4.1
3.0
4,9
3.4
2.8
3.9
3.9
3.0
2.3
4.3
12, 269
6, 816
1,768
3, 684
6, 342
3, 583
964
1; 795
8,178
4,595
1,168
2,414
10, 068
5,466
1,534
3,068
27, 627
14, 381
4, 381
8,866
35, 054
18, 116
6, 145
10, 793
40, 390
20, 793
7,275
12, 322
3.9
3.8
5.2
3.4
3.6
3.5
4.3
3.4
10, 951
2,796
1,191
3, 583
2, 178
1,203
5, 11V
1,392
551
1, 658
914
601
6,987
1,910
765
2, 105
1, 356
851
9,101
2.400
1,056
2,808
1.793
1,043
28, 507
7,240
3,499
8,720
5, 854
3, 193
37, 256
9,633
4, 513
11,019
8,168
3, 924
42, 177
10, 857
5,177
12, 790
8,898
4 ; 455
4.0
4.1
4.0
3.9
4.2
3.4
3.1
3.0
3.5
3.8
2.2
3.2
West North Central.
_
Minnesota
Iowa
Missouri
North Dakota.
. ._
South Dakota
Nebraska . . _ _
Kansas
5, 149
1,026
953
1,407
230
250
553
730
2, 547
559
463
737
104
101
266
318
3,444
797
636
928
147
144
353
440
4,097
1,000
818
1,089
156
169
394
472
13, 153
2,867
2,540
3, 526
607
620
1,310
1,684
16, 181
3,450
3, 078
4, 525
662
679
1, 588
2,201
18,208
3, 976
3,367
5,150
763
772
1,730
2,449
3.3
3.3
2.8
3.9
2.3
2.2
2.8
3.9
3.0
3.6
2.3
3.3
3.6
3.2
2.2
2.7
South Atlantic
Delaware
Maryland..
District of Columbia
Virginia
West Virginia
North Carolina
South Carolina
Georgia.
_ _
Florida
4,105
100
596
324
589
440
641
296
626
493
2,416
55
367
236
349
239
358
183
347
282
3,244
75
447
326
463
328
459
246
480
421
4, 325
108
606
391
622
403
631
331
623
611
14,631
376
1, 871
1, 103
2, 203
1,278
2,234
1,142
2, 098
2,327
20, 609
493
2, 675
1, 212
3,121
1,401
3. 210
1, 519
2, 963
4,014
25, 493
583
3, 326
1,304
3, 721
1.607
3, 837
1,747
3, 528
5,840
5.7
4.5
5.9
5.4
2.3
5.5
4.3
5.3
9.6
5.4
4.2
5.5
1.8
4.5
3.5
4.6
3.5
4.5
9.8
East South Central
Kentucky
Tennessee,. _ _ _ _,
Alabama
Mississippi
2, 133
575
632
519
408
1,001
295
322
246
139
1,367
381
476
334
177
1,837
516
603
435
282
6,370
1, 662
2, 076
1,629
1,004
8, 354
2,201
2,759
2, 112
1,282
9,829
2, 581
3,199
2, 567
1, 482
4.4
4.5
4.4
4.7
4.0
4.1
4.1
3.8
5.0
3.7
3,646
406
469
780
1,991
1,711
177
259
334
941
2,278
239
340
429
1,270
3, 090
298
484
513
1,795
10, 859
1, 079
1, 673
1,629
6,479
14, 806
1, 334
2,339
2,101
9, 032
17, 670
1,537
2,940
2,401
10, 793
5.0
3.6
5.8
4.0
5.2
4.5
3.6
5.9
3.4
4.6
Mountain _
Montana
Idaho
Wyoming
Colorado
New Mexico
Arizona _ _
Utah
Nevada
1, 510
238
165
101
455
116
193
193
49
711
107
84
54
226
52
73
88
27
1,079
185
138
81
297
88
119
129
43
1,421
221
175
100
407
125
161
169
62
4,640
599
579
307
1,250
474
654
576
200
6, 357
778
670
385
1,727
733
1, 001
733
330
7,924
863
818
416
2,105
973
1,412
929
408
5.4
3.7
3.5
3.0
5.3
7.4
8.0
4.9
7.4
5.6
2.6
5.2
2.0
5.1
7.4
9.0
6.1
5.4
Pacific
Washington . _
Oregon. _ _ .
California
4,305
742
442
3,122
2,200
355
215
1,630
3, 123
519
329
2,276
4,259
666
441
3,152
14, 740
2,204
1, 586
10, 950
20, 439
2, 874
1,921
15, 644
25, 504
3,419
2,137
19, 948
5.6
4.5
3.0
6.2
5.7
4.4
2.7
6.3
97
374
175
426
202
522
7.6
3.4
3.6
5.2
United States
New England
Maine
New Hampshire
Vermont..
Massachusetts
Rhode Island
Connecticut
__
Middle Atlantic
New York
New Jersey
Pennsylvania
__
East North Central
Ohio ..
Indiana..
Illinois
Michigan __ ._
Wisconsin
West South Central
Arkansas
Louisiana
Oklahoma
Texas
Addenda 2
Alaska
Hawaii
_
1 The data cover all Census of Business years. The 1929-48 census figures have been adjusted to achieve greater comparability with 1954 and 1958. Adjustment has not been made for the inclusion in 1954 and 1958, and exclusion in 1939 and 1948,
of sales and excise taxes levied directly on the consumer; computations indicate that this factor is negligible in the regional
distribution.
2 Not included in total.
May 1961
In addition it should be noted that the
$46 billion total includes some expenditures by business firms.
In considering the regional trade behavior since 1954 it is noted here, as
in previous analyses, that purchases in
each State move with the total for the
country as a whole. This is to be expected since the economy of each State
is inextricably bound up with the
economy of the country; there are no
legal trade barriers operating to obstruct trade among the States.
Nevertheless, the effect of changes in
income leads to different regional responses in terms of purchases. This
variation may be seen in the chart
showing percent change in retail sales
and service receipts between 1954 and
1958 by region compared to the percent
change in personal income.
In the lower part of the chart showing
the relationship to sales it is noted that
advances in sales and income were
shown for the United States as a whole
and for all the various regions. However, the southern and western States
outpaced the remainder with relative
sales and income growth well above the
Nation's average. The points of scatter in the chart fall fairly closely
along a line with the regions comprising
the southern and western States at the
upper half of the line and the remaining
regions along the lower half. The
South Atlantic and Pacific regions
show relative sales changes above the
line of relationship while the New England and West North Central regions
show low sales advances compared to
their income increase.
The relationship for changes in service receipts and income bring out substantially the same picture. The South
Atlantic and the west are once again
at the upper end of the average line of
relationship. For both sales and services the West North Central region
shows purchases low relative to its
income change.
The relationships of income changes
with purchases at retail and with service
receipts are fairly close. The coefficients of correlation (r) exceed .95 in
both cases.
Shift by regions
Although a high degree of correlation
exists between regional sales and re-
May 1061
gional income and between regional and
nationwide sales there have been gradual shifts in the relationship over time.
The result of these differential movements over the period since 1929 is indicated in table 2 which presents regional distributions of sales in Census years.
The variations in these patterns are
associated with many factors—such as
changes in industrialization, the degree
of urbanization and differences in population growth and other demographic
factors. In addition, the cyclical responses of regions to changes in the
overall economy vary to a considerable
extent according to the proportions of
income originating in manufacturing, in
agriculture, and in mining.
It is noted in the newly available data
for 1958 that there has been a continuation of the shift in the sales proportions
that had been developing over the 25year period from 1929 to 1954. The
more highly developed areas of the
country have continued to increase their
sales volume as the overall economy expanded, but the more recently developed parts in the South and West have
been experiencing even sharper growth
rates.
Northeast and Midwest States
Retail sales in the New England,
Middle Atlantic, and North Central regions continued their gradual decline
relative to the Nation in the 1954-58
period. From 58/2 percent of total sales
in 1954 the share of sales in these States
declined to 56/2 percent in 1958. Only
Connecticut and New Jersey bettered
their positions somewhat.
The behavior patterns of sales and income are related to continued shifts in
industrial activity and of population in
different parts of the country. In the
large metropolitan areas there tends to
be a net outmigration from the city to
new suburban areas. In the case of
New York City this has been very extensive and led to a considerable expansion in southern Connecticut and in
northern New Jersey as residential areas
for individuals who work in the city. In
addition, the outmigration in New York
City was accompanied by the entrance
of a lower income group from Puerto
Rico and the south which altered the income distribution. Among the States in
the East and West North Central region
591288°—61
4
SURVEY OF CURRENT BUSINESS
25
Table 2.—Regional Distribution of Retail Store Sales in Census Years
(Percent)
1929
United States
New England _ _ _
Middle Atlantic
East North Central
West North Central
_
South Atlantic
East South Central
West South Central
Mountain
Pacific
__
- .
_
_
__
. _
1933
1935
1939
1948
1954
1958
100.0
100.0
100.0
100 0
100.0
100.0
100.0
7.7
25.7
22.9
10.8
8.6
26.3
21.2
10.6
8.2
25.3
21.6
10.7
7.8
24 3
22.0
9.9
6.5
21.4
22.1
10.2
6.4
20.6
21.9
9.5
6.2
20.2
21.1
9.1
86
4.5
7.6
32
9.0
10 0
4.2
7. 1
2 9
9.1
10 0
4.2
7.0
3.3
9.7
10 4
4.4
7.5
3.4
10.3
11 4
5.0
8.4
36
11.4
12 2
4.9
8.7
38
12.0
12 8
4.9
8.9
4 0
12.8
Source: U.S. Department of Commerce, Bureau of the Census and Office of Business Economics.
the relative increases in sales for Michigan, Iowa, and Nebraska were only
about half the national average.
The South and West
Sales in the south and west continued
to gain a larger proportion of the total.
Florida led the way with all its economic
indicators showing significantly greater
relative advances than those for the Nation. Only West Virginia experienced a
decline in its share; this reflected the
relatively depressed condition of the
economy of that State.
California dominated the growth in
the far western States. The population
of California increased by 47 percent
from 1948 to 1958 and while this did not
match the relative advances in Florida,
Arizona, New Mexico, and Nevada, it
was by far the fastest growing of the
larger States.
In the West South Central region,
Louisiana and Texas were the relative
pace setters, while in the Mountain
States New Mexico, Arizona, and
Nevada led. Oil, natural gas, and
livestock have played an important
part in the continuing growth in Texas,
but new industries have been moving
in here as well as in Louisiana to keep
economic activity high. Sales and income in New Mexico, Arizona, and
Nevada are low in absolute value but
have more than doubled in the period
1948-58. The steady expansion of
vacation travel and immigration due to
favorable climate have been factors in
attracting more and more business to
these areas.
Trade and Services Outlays Related to Income
IKE CLOSE relationship between
consumer purchasing and income may
be observed more directly in graphic
form by comparing for a given year the
pattern of purchasing and income by
States. Such a cross-sectional approach serves to bring out the similarities and differences among the States,
relative to expenditures and income at
one point in time.
The accompanying scatter diagram,
in the upper section of the chart,
presents the relationship between State
sales and personal income in 1958 and,
the one in the lower section, the relation
between service receipts and income.
The States generally cluster along a line
with New York at the upper end and
Vermont, Wyoming, and Nevada at
the lower end; a similar pattern has
been found to exist for each of the
Census years.
The close correspondence between
State sales and income in a given year
(r=.995 in the year 1958 and is not
much different in other years) is in part
a function of the population of each
State. However, the relation between
State sales and income on a per capita
basis shows a lesser but still very significant correspondence.
The slope of the line is very near
unity indicating that within the crosssection of States, with time held constant, the difference in sales among the
States is directly proportional to income
differentials.
Although the States are generally
close to the average line of relationship
there are several outstanding exceptions. For example, Delaware with a
total personal income of $1.2 billion
reported retail sales of $580 million
while New Hampshire and South Dakota with income not too different from
Delaware had sales of $700 and $780
SURVEY OF CURRENT BUSINESS
26
million, respectively. Also Connect- the State in which the center of the
icut with $6.6 billion of personal income metropolitan area is located. This is
had sales of $3.0 billion while Virginia true, for example, for Connecticut and
and North Carolina had substantially Maryland as well as for Delaware and
higher sales with about the same in- New Jersey which are on the low side
come. On the high side, that is, with in sales relative to income.
Mail-order sales also play an imhigher-than-average sales relative to
portant role especially in certain States
income, were Florida and Texas.
There are a number of factors other which are not close enough to extensive
than the level of income itself that tend shopping areas. The effect of mailto influence the sales-income position order purchases is to lower sales within
of a State compared to the others. the given State relative to its income
Where a large metropolitan area spills potential and to raise that of the State
over into two or more States there will in which the mail-order firms operate.
In States such as Minnesota, Iowa,
be tendencies for people living in one
State which is credited with their in- the Dakotas, Nebraska, and Kansas
come to make substantial purchases in sales of l u m b e r , building-hardware
RETAIL BUSINESS and SERVICE RECEIPTS are Directly ProportionalWith Some Exceptions—
30
I
i
to the Size of Total Income
: ; j i
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Retail Sales Related T D Personal
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Selected Service Receipts
Related To Personal Income By States— }95Q
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10
2
1
1
4
I
I
6
1
I 1 !
8
10
1
20
1
1
Personal Income - Billion $
(ratio scale)
U. S. Department of Commerce, Office of Bus!
!
40
D a t Q : CensuS) OBEi and
1
i
60
p r , V ate Agencies
May 1961
stores (including farm equipment dealers) form an unusually large proportion
of their total sales. The average proportion for these States is about twice
that shown for the Nation. The ratio
of gasoline service station sales to total
sales in these States also exceeds the
overall ratio but not to the same extent.
The differences largely reflect purchases
for farm use. In the case of Florida
and Texas the kind of business groups
in which sales are high relative to the
national average are the automotive
group and gasoline service stations.
Services shoiv similar pattern
The data on service receipts for the
various States are shown plotted against
income in those States on the upper
portion of the charts. The close relationship between service receipts and
income by States is immediately evident
although it is not so close as in the
case of retail sales in which the store
receipts represent a much greater proportion of consumer items.
The measure of the closeness of the
relationship r— .97 compares with r — .99
for retail sales. The points representing the States fall generally along a
line almost parallel to the regression
line between sales and income but they
are seen to be more dispersed about
their average line.
It is of interest to compare the
deviations of States from their respective lines of relationship in the two
cases. Retail sales expenditures in
Nevada appear somewhat below the
line reflecting in part purchases of
goods outside the State because of the
lack of distributive facilities within the
State. In the case of service receipts,
Nevada is far above the average.
Personal income in Nevada is not too
different from that in Vermont or
Wyoming but the service receipts in
Nevada are nearly double the combined
figure for both of these States. The
high level of the service receipts for
Nevada are related to tourist activities
for which the State is noted.
Florida is found to be above the line
of relationship for both sales as well as
services. The high level of purchases
relative to income reflect mostly the
influence of the extensive tourist trade.
For Illinois, California, and New
May 1961
York service receipts are high relative
to the average line although these
States are generally in line relative to
sales. In Illinois and New York business service expenditures are importantfactors in the high service figures while
in California heavy tourist traffic is
probably most influential.
On the low side for services relative
to income were found many of the less
industrialized areas, such as the Dakotas, Kansas, and Iowa. Delaware
and Connecticut are found on the low
side relative to income for service
receipts as well as sales. Expenditures
in both of these States are influenced
by their close proximity to big metropolitan areas in adjoining States.
Regional Differences
by Kinds of Business
Variations in climate, in natural resources, in geographical features, in
industrial structure and other factors
tend to lead to considerable variation in
the patterns of spending from region to
region and from State to State. In
table 3 there is presented a percentage
distribution of State and regional sales
by kind of business for the year 1958.
It is noted that the relative distribution
of retail sales among the States varies
considerably from State to State. The
proportion of a State's sales accounted
for by the lumber, building-hardware
group (including farm equipment dealers) ranges from 4 percent for the lowest
to 23 percent for the highest. For
furniture and appliance stores, the
range is from 3 percent to 7 percent, in
drug stores 2 percent to 6 percent.
Building materials and automotive
groups
States in which agriculture was an
important source of income showed a
high proportion of their sales in the
lumber, building, hardware group (including farm equipment)—North Dakota 23 percent, South Dakota 19 percent. In New York State such stores
accounted for only 4 percent of sales.
In the automotive group also, the proportion of sales was high in the farm
States with New York again lowest.
A somewhat similar pattern was exhibited for sales of gasoline service
stations, with Nevada and Wyoming
SURVEY OF CURRENT BUSINESS
showing the largest proportions of their
sales at such stores.
27
in these outlets in New York, New
Jersey, Pennsylvania, and other more
urbanized areas.
Differences in State and local liquor
laws influence spending at eating and
drinking places. All the States in the
southeast and south where "on premise7' consumption of alcoholic beverages
is limited entirely or in part show a lower-than-average proportion of sales going to eating and drinking places.
Food stores and eating and drinking
places
Large cities and density of population
are dominant factors in such sales. In
most of the agricultural States less than
30 percent of sales went to food stores
and eating and drinking places, while a
third or more of all sales was expended
Table 3.—Percentage Distribution of Retail Store Sales by Kind of Business Within Each
State, 1958
Furni- Lumber,
ture, buildingDrug Eating,
home materials, ApRetail Autoparel, stores, drink- Food
furhardmotive
trade,
nishacces- propri- ing
stores
ware,
sory
etory places
farm
total dealers ings
stores stores
equip- equipment
ment
stores dealers
Gasoline
service
sta-
tions
Gen-
eral
mer-
chandise
stores
All
other
retailers i
United States
100 0
15 9
50
7 2
6 3
3 4
7 6
24 5
7 1
11 0
12 0
New England
Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut ..
100 0
14 3
16 7
16. 5
4 5
33
3.8
37
4 5
6 9
5 7
6.4
4 5
10 1
10 4
7.6
10 1
10.6
10 8
15
16
16.
17
7 5
7. 1
26 3
28 0
28.6
26 1
25.8
25 5
26.4
5 9
7 1
6.9
6 8
7 8
6 9
3 3
2 6
2.7
2 2
33
37
35
7 3
4 4
5.4
4 4
4 6
5 4
5 5
5 8
6.0
7 0
50
5 8
6 0
Middle Atlantic
New York
New Jersey .
Pennsylvania
100,0
100 0
100 0
100 0
13.1
11 5
13. 9
15 4
5.4
5 4
6 0
5 0
4.9
4 3
5 5
5 3
S.3
9 5
7 8
f> 6
2.9
2 9
2 6
30
9.5
10 7
9 2
7 8
26.2
26 5
26.4
25 7
5.3
4 5
6. 1
6 0
10.7
10 7
12
13.7
14 0
14. 1
13 0
East North Central
Ohio
-__ ___
Indiana
Illinois
Michigan
Wisconsin
100. 0
100 0
100 0
100 0
4,9
4 9
4 $
4 8
f) 1
4.7
7.6
7 2
86
7 o
7 5
9.6
5.7
5 1
5 1
6 6
56
5.4
3.5
3 3
3 6
3 4
4 0
2.9
8.1
8.0
7 2
100.0
15. 8
If). 0
If) 7
14 1
17 7
15.7
24.4
25.8
23 5
22.9
26 1
23.5
7.3
7. 5
8 2
6. 5
7 9
6.9
11.2
12. 7
10 9
10.2
11 0
11.0
11.5
9. 5
11 4
15. 9
8 0
10.7
West North Central
Minnesota. .
Iowa _ _
Missouri _ North Dakota
South Dakota
Nebraska
Kansas
100
100
100
100
100
100
100
100
0
0
0
0
0
0
0
0
16 6
15.4
16 2
15.7
18 7
17. 6
17 2
19.4
4
4
4
4
4
3
4
4
5
5
5
5
5
4
4
4
3 4
6 5
7.9
79
8 1
11.8
6 0
21.5
21.4
21.0
22.4
17 1
19.9
20 1
23.2
10.2
10.9
3
3
2
3
3
3
South Atlantic
Delaware - .
Maryland
District of Columbia.,
Virginia.
West Virginia
North Carolina..
South Carolina
Georgia
Florida
100 0
100.0
100 0
100. 0
100. 0
100.0
100.0
100.0
100 0
100.0
17.0
15.7
14 6
14.1
16.9
16.7
17.4
17.8
17.3
18.7
5 1
5 3
4 2
6.8
4.8
5 2
5. 1
51
4 8
56
6 4
6 0
5 4
2.5
5.8
5 6
East South Central
Kentucky
Tennessee
Alabama
Mississippi
100.0
100 0
100 0
100.0
100.0
17.8
17 3
18.0
17.6
18.8
4.9
4 8
4 9
5.4
4 4
West South Central
Arkansas
Louisiana _ .... _
Oklahoma _
Texas
100.0
100.0
100.0
100.0
100.0
18.8
19.1
16.7
19.0
19.3
4.7
4.3
5.2
4.8
4 6
Mountain
_
Montana
Idaho.
Wyoming
Colorado.. ...
New Mexico
Arizona
.
Utah
Nevada
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100 0
100.0
18.8
18.9
19.9
18.7
18.3
20.2
18.6
18.3
16.7
4.8
38
4.5
4. 5
4.8
4.7
5.5
51
4.3
Pacific
Washington
Oregon
California
100.0
100.0
100.0
100.0
16.2
14.5
18.3
16.2
Addenda
Alaska
100.0
Hawaii
100.0
100*0
100.0
100 0
100.0
100 0
100.0
100 o
._
__
13.2
14 1
14. 7
4
2
5
5
0
7
5
7
12
12
15
8
22
19
15
12
6
3
1
0
8
1
0
3
7.2
1
0
1
7
3
6
7
7
3.2
0
8
9
3
1
6
8.3
8.6
7 1
9.6
7.3
6.6
7 0
6.3
6 8
5.2
5.4
6 1
6.2
7.6
9.4
8.4
9
8.7
7 5
12.0
8 3
8 5
9. 1
10 1
7.6
7.1
6.8
8.6
8.6
8.4
9
0
1
9
in. T
14 1
14. 4
13. 1
12. 3
13. 7
6 4
8.3
9 9
9.4
24.0
22.4
26.9
18.1
24.8
26.5
22.8
25.4
23. 1
23.4
4.8
8.2
7. 7
11.9
10.9
11.0
14.2
12 7
15.3
12.7
11.8
12.5
9.6
11.9
17.8
13. 0
16. 1
11.4
8. 1
12.7
10.0
13.0
10.4
5.1
6.6
4.8
4.6
4. 1
24.9
25.6
24.7
24.7
24.2
8.0
7.6
8.2
7.7
8.7
12.1
11. 1
12.6
12.8
11.6
10.2
9.7
11. 0
10.0
9.5
3.5
3.2
3.6
3.8
3.5
5.8
4.5
7.2
6.0
5.5
24.2
23.4
24.6
24.4
24.1
8.1
8.0
7.5
8.8
8.1
11.0
10.3
11.8
10.8
10.9
9.9
12.2
9. 1
7.6
10.4
4.0
3.2
3.6
3.9
4.4
3.4
4.1
4.4
5.5
7.7
9.4
6.7
8.3
7.2
7.4
8.5
6.0
9.8
22.2
22.2
21.2
21.2
21.6
21.9
23.4
22.5
23.2
8.9
8.0
8.1
10.4
9.3
7.8
7.5
8.0
4.7
4.8
5.0
3.5
4.8
4.4
5.3
5.5
4.4
6.5
7.8
9.9
9.3
9.1
11.9
11.5
8.9
9.2
8.0
9.4
8.5
10.3
9.8
8.2
9. 1
8.9
5.8
4.8
4.3
6. 1
6.2
7.0
7.1
6.0
5.5
4.3
4.3
5.9
3.6
3.6
3.6
8.3
7.3
7.0
8.7
24.9
25.3
25.1
24.8
7.6
7.1
7.9
7.7
10.7
12.3
10. 6
10.4
11.2
13.8
12.3
10.6
12.5
4.4
4.9
4.8
4.4
14.0
23.4
5.8
14.3
11.5
13.7
5.1
1.3
6.5
3.0
12.6
29.8
7.3
12.0
8.7
6 1
5.8
3 6
3.0
5 5
9.1
5.6
6. 1
4 2
4.7
3.8
6 0
33
7.6
5.9
3.5
80
7 1
7. 1
5.3
6.6
6. 5
3.4
3.5
3.6
8.1
9.8
7.5
9.3
7.8
5.9
5.2
6.8
5.5
5.8
9.2
7.6
7 5
7 2
7 0
8.7
12.9
12.8
11.0
6.1
5.8
3.2
3.2
3.4
6.3
3.8
5 7
36
3. 1
6.4
6.0
8 4
9.6
6.0
5.6
4.3
4.4
4.6
7.9
8.1
8.8
8.2
7.3
11.1
8.6
10.3
8.0
9.6
9.4
13.1
2
!
2
Includes nonstore retailers.
Not included in total.
Source: U.S. Department of Commerce, Bureau of the Census and Office of Business Economics.
28
SUEVEY OF CURRENT BUSINESS
May 1961
siderable variation among the regions. conditions similar to those which tend
New York recorded the highest share The largest variation in the percentage to raise expenditures in hotels and
in the apparel group, 9% percent of of specific services to total service motels. The State data indicate that
total sales. Massachusetts, Rhode Is- receipts within a given region was the motion picture expenditures are espeland, and New Jersey had proportions miscellaneous business services and life cially important in California, and
of 7 percent to 8 percent while Idaho insurance group. Here the proportions expenditures for motion pictures and
had the lowest proportion of its sales in ranged from 34 and 38 percent for the theatres are relatively high in New
transient
this group, 3}X2 percent. New York as East North Central and Middle Atlan- York with its large
the style and apparel manufacturing tic region to 17 percent for the Moun- population.
For domestic services the South
center tends to attract a large number tain region. This reflects the heavy
expenditures
for
advertising,
news
synAtlantic
and East South Central regions
of purchases from outside the State as
dicates
and
employment
agencies
which
stand
out
with a proportion considerwell as within it.
are
more
important
in
the
heavily
ably
greater
than the United States
The general merchandise group comindustrialized
areas
with
their
very
total.
This
may
reflect, in large part,
prising department, variety, general
large
cities.
the
greater
availability
of labor for
stores and dry goods, and other general
Insurance
expenses,
personal
services,
this
type
of
work
in
these
States.
merchandise stores forms a rather
and
auto
and
other
repair
services
are
Demand
for
gas
and
electric
utilities
heterogeneous group and the distriburelatively
stable
as
a
percentage
of
total
depends
to
a
large
extent
on
the
availtion of the State ratios is rather mixed.
service
receipts
among
the
regions.
ability
and
cost
of
these
products
as
The State with the lowest proportion
The
largest
proportion
of
expendiagainst
other
fuels,
as
well
as
on
cliof its sales in this group is Vermont,
7 percent, and the highest is West tures for hotels, motels and related matic factors. The West North Censervices is in the Mountain region tral farm areas and the East South
Virginia, 15 percent.
To some extent stores in the less where tourist activities are high. The Centra] Tennessee Valley area utilize
urbanized States are more likely to sell South Atlantic region also shows a electricity to an especially large extent,
a variety of products than to specialize higher-than-average proportion in this while in the Middle Atlantic and Pacific
States which showed the lowest ratio
as in the high population States. For category.
Outlays
for
motion
pictures
and
other
in
this field, the use of a great deal of
this reason a larger proportion of
amusements
are
relatively
high
in
the
fuel
oil reduces demand for gas and
stores in the less populous States is
Mountain
and
Pacific
States
reflecting
electricity.
likely to be classified as general merchandise stores rather than in the more
Table 4.—Percentage Distribution of Selected Service Recipts by Regions—1958
Specialized categories.
Since demand for gasoline in a State
Hotels,
Insurance
is related in large part to the number
and
Total i
motels, Personal
Repairs Amuse- Utilities Domestic
etc.
services business
ment
service
of cars on the road and to the agriculservices
tural use of gasoline it is found that
7.4
United States
14.5
29.5
11.0
8.4
13.2
100.0
16.0
State patterns in gasoline service staNew
England
16.2
24.4
9.2
-8.9
9.2
18.4
13.7
100.0
tion sales resemble those of the auto- Middle Atlantic
6.8
12 9
11 1
14 0
38 0
10 1
100 0
71
4.9
8.9
34.2
12.2
16. 7
East North Central
16 6
100.0
6.5
motive group. The smallest share of West
5.5
24. 7
19.8
North Central
15.8
8. 7
8.7
100.0
16.8
sales going to this group, 4% percent, South Atlantic
12.5
11.4
14.2
9.5
14.7
17.2
20.5
100. 0
12.5
18.6
East South Central
7 2
19.1
19.9
7.7
100.0
15.0
was recorded in New York and the Mountain
4.8
17.2
16. 7
14 1
IS 6
13 9
H.7
100 0
6.2
27.9
15.3
14.7
11.8
8.6
15.5
Pacific
_
_
.
_
___
100.0
highest, over 11 percent, in Wyoming
and Nevada.
1. This total excludes many important categories of services purchased by consumers. Principal exclusions are services
Apparel and other retail stores
Regional distribution of service trade
The percent distribution of service
receipts by selected services shows con-
connected with medical care, foreign travel, housing, communications, purchased transportation, and religious and welfare
activities.
Sources: U.S. Department of Commerce, Bureau of the Census and Office of Business Economics, Edison Electric Institute
and American Gas Association.
BY JOHN A. GORMAN
Debt Rise in 1060
IET PUBLIC and private borrowing
totaled $36% billion last year, and carried the amount of such debt outstanding as 1961 opened to a record $883
billion.
The debt increase was only threefifths as great as that registered during
1959.
The new fund needs of business
and consumers declined with the topping out of economic activity, while
those of Government fell as profits tax
collections reflected the year-earlier rise
of profits.
The slowdown of debt formation
centered in the short-term area, where
the total borrowed amounted to $6
billion, $23 billion below the 1959 pace.
Long-term borrowing, at $30% billion,
was off only moderately.
Following the earlier tightening and
increased competition for the available
funds, demands for financing decreased
from the early months of 1960 through
early 1961, while supplies were maintained or increased. The opening
months of last year were characterized
by rising business activity and heavy
calls for additional business inventory
credit. These tapered in the course of
the winter, however, and market demand for funds was also affected in this
period by a notable improvement in the
Federal budgetary position. A shift
in business and financial expectations
which was underlined by a stock market
decline also contributed to a reduction
in the urgency of demand for loan
funds.
As the year passed, the topping out of
business activity brought further decreases in credit needs generally, though
a relative stringency of residential
mortgage funds continued during most
of 1960 and was no doubt a factor in the
decline of housing construction which
persisted throughout the year.
Developments on the supply side
made for ease in the fund markets.
The flow of financial saving continued
high during the past year, and credit
Pace Slackened As Business Turned Down
availability has been improved as the
anticyclical monetary policy shifted
toward adding substantially to the
lending capacity of the banks.
Under these supply-demand conditions, a moderate downward tendency
of interest rates succeeded the 1958-59
rise. Starting early in 1960, this continued into 1961. It affected all of the
short- and long-term rates shown in the
text table below. Yields on the marketable securities represented have fal-
len to levels near or below those of
March 1959, while the reported institutional lending rates have been reduced relatively less.
At present fund demand is still
limited in relation to the augmented
supply, but the capital markets have
firmed a little recently as takings of all
three major long-term borrower groups—
corporations, municipalities and homebuyers—showed signs of moving up
from their low points.
Short-Term Requirements
THE STKINGENCY of fund supplies
and the high cost of borrowing early
last year around the time of the cyclical
peak may have tended to restrain the
use of credit in the markets for national
production. As outlined below, however, credit conditions had already begun to improve in the early spring of
1960, while most of the product markets concerned were still strong, so that
the downturns in these markets were
associated with other factors as well.
Since the peak in output, the demand
for short-term funds has reflected a
sharp decline in use of such funds by
business and, more recently, by consumers. Federal Government requirements have risen less than the budgetary position on income and product
account would suggest, owing to the
heavy inflow of taxes on last year's peak
incomes, and have so far been covered
by longer term issues.
Recent changes in short-term private
debt are indicated on an annual basis
in table 1. For business enterprises^
the 1959-60 movements shown were
largely dominated by the turnaround
in borrowing associated with the swings
in general economic activity during
these years. The cyclical decline in
consumer borrowing did not develop
until recently and the usual countercyclical rise in Government requirements has thus far been quite limited,
so that the 1960 totals for these borrower groups reflect not the near-term
shifts but rather the generally high level
of economic activity which prevailed
over the year as a whole.
The responses of private short-term
borrowing to recent cyclical changes
Selected Interest Rates
(Percent per annum)
March
Annual average
1957
Short-term
Treasury bills, 3 months
Finance company paper
Bank rate on business loans
Long-term
U S Treasury bonds
Corporate Aaa
Conventional mortgages
..
1958
1959
1960
1957
1958
1959
1960
1961
3 27
3.55
4.62
1 84
2. 12
4.34
3 40
2 82
5.00
2 93
3.54
5.20
3 14
3.38
4.38
1 35
1.86
4.49
2 85
3 22
4.51
3 44
4 16
5 34
2 42
2 7S
4 9?
3 47
3 89
3 43
3 79
5.76
4 07
4 38
5.98
4 01
4.41
6.24
na.
3 26
3.66
3 25
3 63
5.75
3 92
4 13
5.80
4 08
4 49
6.30
3 78
4 22
6.00
na
na-Not available
Sources: U.S. Treasury Department, Board of Governors of the Federal Reserve System, Moodys Investors Service, and
Federal Housing Administration.
29
30
SURVEY OF CURRENT BUSINESS
which are apparent from table 1 followed closely the patterns recorded in
the contractions from the business
peaks of 1948, 1953, and 1957.
peak and moved down. As in 1948,
1953, and 1957, inventory investment
and customer financing tended to slow
down, and the drop in these short-term
uses was reflected in a lessened growth
of bank debt and payables financing.
the case of business financing, there has
apparently been some tendency towards
a more intensive use of credit to move
automobiles and other big-ticket consumer durables.
Business credit
The recent drop in consumer credit
The course of inventory credit was
extensions, like the sharp advance durbroadly parallel to that of manufac- Consumer credit
ing the preceding cyclical expansion,
turers' and distributors' stocks. It exConsumer borrowing moved irregu- was dominated by developments in the
panded at a progressively slackening larly higher during most of 1960, but automobile market. With car sales
rate through the summer quarter and fell back toward yearend and in the first high through the final quarter of last
featured some liquidation in the late quarter of this year reached a seasonally year, auto credit was extended at a
fall and winter.
adjusted rate not much above that reg- near-record $18 billion annual rate. The
Much of the inventory move centered istered at the opening of 1959. As in subsequent slide in buying brought the
in metal manufacturing. The growth of
annual rate of borrowing down below
bank debt reported for these companies RISE IN NEW DEBT SLACKENED IN 1960
$15 billion in the opening months of
tapered through the third quarter. A
As Business Reached Midyear Peak and
1961.
marked contraction followed, and by
Turned Down . . .
Though consumer purchases of bigBillion $
midwinter the outstanding balances
ticket furniture and household appliwere back near the levels of a year ear- 80
ances have been declining, new credit
lier, as the aggregate value of inventory
[:'v::/-:| F e d e r a l S t a t e S L o c a l G o v e r n m e n t , T o t a l
extensions have shown little change
HH F e d e r a l o n l y
holdings fell below comparable 1960
60 since mid-1960, and in recent months
figures.
have been running at the same annual
As in the case of metal manufacturrate—$14 billion—as a year earlier.
ing, an upswing in inventories extending
40
Extensions of unsecured personal
into mid-1960 and a contraction last
loans were at a $16 billion rate in the
winter dominated the short-term credit
first quarter of this year. This was
20 requirements of distributors.
The
only slightly less than at the peak of
course of bank lending to wholesale and
business activity.
retail trade last year followed a like patPayments on consumer installment
tern: after a large buildup through the
debt rose from a $47 billion annual rate
summer, such debt showed no net
at the peak of the cycle to around $48
change for the balance of the year, and -20
billion as 1961 opened. The tapering
an unusually heavy liquidation featured
advance and subsequent drop in new
the opening months of 1961.
SHORT-TERM Needs Were Much Lower. .
borrowing were accordingly reflected in
The inventory developments and asa sharp decline in consumers' net drafts
sociated borrowing just reviewed have
on the pool of installment credit. For
been the most notable changes since late
1960 as a whole, such drafts were off
1959 in the sources and uses of corponearly $2% billion or 40 percent from
rate working capital funds. The record
1959, as repayments rose by $8)2 billion
of fund uses was also marked by a taperwhile
new borrowing was up less than
ing in the growth of receivables as busi- 40
$1% billion. During the first three
ness sales topped out. In relation to
months of the current year, total repaythe volume of business done, however, 20 ments have exceeded borrowings.
trade credit has been rising ever since
The growth of persons' financial debt
1960 opened.
shown in table 1 centered in borrowings
For all nonfinancial corporations
against the cash values of life insurance
1957
1958
1959
1960
taken together, inventories and receivpolicies. Security debt showed little
And With LONG-TERM Borrowing Steady,
ables were up $11 billion in 1960. Shortchange for the year as a whole. A
This Portion of Debt Rose Relatively
term borrowing provided approximately
decline
during the first half was subone half of the funds required—a some- Percent
stantially
canceled by an irregular adwhat lower percentage than is indicated 60 Long-Term Percent of Total Debt
vance that began about midyear and
for the most recent quarters. Much of
has continued into 1961, accompanying
the remainder came out of current sav- 55 the upswing in stock prices and trading
ings, though the liquidation of Treasury
volume.
bills also played a part.
Besides these shifts in the use of
_J
L_
This pattern of sources and uses was 50
short-term
credit, recent changes in
1957
1958
1959 1960
similar to that in other periods when
personal fund sources and uses have
economic activity rounded a cyclical U. S. Department of Commerce, Office of Business Economics 61-5-13 featured a swing from purchase to
May 1961
liquidation of mortgage Government
securities and a tapering in new house
purchasing and borrowing.
Government borrowing
The decline of the Government's
fiscal position since early 1960, as
measured (mainly on an accrual basis)
for national income purposes, has been
only partly reflected in the course of
Federal financial requirements. Operating to reduce the Government's need
for loan funds were a curtailment in its
own lending operations and, more
important, the fact that the flow of
incoming tax payments was exceeding
the current accrual of tax liabilities.
Xet Federal debt repayment in the
SURVEY OF CURRENT BUSINESS
31
first quarter of 1961 was off only moderately from the year-earlier total, which
had been reached at a time of near-peak
activity in general business.
The supply of Treasury bills, certificates and longer term marketable
issues near maturity fell $5 billion
during the 3rear—or considerably more
than the Federal debt total—because of
the extension of the maturity structure
noted below. This contraction helped
bring down the bill rate.
This pattern of Federal financing may
be contrasted to that displayed during
the earlier production downturns of
1953 and 1957, when the short-term
Federal debt had increased while the
long-term portion declined.
interest rates have permitted corporations to make marked reductions in
borrowing costs incurred during the
preceding upswings.
Use of long-Term Funds
LONG-TERM borrowing of $30% marketable portion rose three months.
billion last year—as against $33% billion
For all nonfinancial corporations takin 1959—brought the net total of such en together, fixed capital spending was
debt to $495 billion by yearend. up by $3 billion last year. The increase
Corporate flotations were up, but centered in manufacturing companies,
takings of States, local governments and which typically rely much less on
homebuyers declined; those of the long-term credit than on internal
Federal Government held about even. sources of capital funds, and long-term
The responses of long-term borrowing corporate borrowing increased by less
to cyclical changes were generally than $1 billion.
similar to those recorded during the
Corporate bond flotations were up
downturns of 1948-49, 1953-54, and $1 billion over 1959. The biggest
1957-58. The different behavior of single factor in the advance was a
the Federal component in 1960-61 was change in the fund sources of finance
the principal exception.
companies. Apparently in response to
a shift in the structure of interest
Lengthening in Federal debt
rates, these concerns met their needs
The extension of the maturity mainly through public security issues
structure of marketable Federal debt rather than bank borrowing last year.
featured the refinancing of maturing The remaining stepup in bond issues
certificates of indebtedness into notes was in the communications group,
having due dates up to five years away, where the rise in flotations about
during the first half of 1960. As the equaled that in capital spending.
In recent months a number of large
year moved on, the Treasury adopted
a new policy of advance refunding of refunding issues have been reported.
wartime iesues into longer term securi- This is in keeping with experience in
ties, and over $4 billion of the 2% past business downturns, when falling
percent bonds coming due in 1967-69
were so exchanged into 3% percent
bonds due in 1980, 1990, or 1998.
Reflecting these operations, the portion THE PRINCIPAL factors on the
of Federal debt due within a year or supply side of the fund markets were
on demand had fallen by last March an expansion in commercial bank lendto 55/2 percent as compared with over ing capacity and an increase in the flow
60 percent at the opening of 1960; of savings channeled through financial
and the average maturity of the institutions generally. There were de
State and local borrowing
The volume of State and local bond
issues moved down in 1960, despite
a modest rise in the construction and
land purchases which provide the major
occasions for such financing, and liquid
asset accumulation by these governments slowed.
The fall in long-term borrowing
costs during the early stages of the
current recession was less sharp than
during the similar stages of the 1953-54
and 1957-58 output recessions, when
bond flotations had expanded sharply.
The decline in yields continued well
into 1961, but has been checked
recently as borrowing spurted.
Residential financing
By the opening of 1960, homebuilding and associated mortgage financing
had receded about one-tenth from the
record rates of the spring quarter of
1959.
Both construction and borrowing stabilized around this lower level
through the autumn of last year.
Construction dropped further in the
fourth quarter and fell again in the
early months of this year. Mortgage
recordings held up better, apparently
reflecting a pickup in used house sales.
With the overall slowdown from 1959
to 1960, the net increase in mortgage
debt last year amounted to only $10%
billion, in contrast to the $13/4 billion
rise of 1959.
The restricted availability of mortgage financing played a key part in the
1960 decline in housing construction.
The easing in mortggae fund availability since the beginning of the current
year has facilitated the sale of used
houses, and has had some influence on
the rise in housing starts in recent
months. (See page 3.)
Position of lenders
clines in several other forms of financial
saving; in most cases, however, these
were directly associated with comparable declines in the savers' financial
requirements.
These changes in fund supplies,
SUKVEY OF CUERENT BUSINESS
32
May 1061
which are discussed further below, and
the demand shifts already considered
combined to produce the recent changes
in interest rates shown in the accompanying text table.
corporate bonds.
summer of 1960. The rate disparity
New deposits in savings and loan tended to reduce the supply of foreign
associations and savings banks also in- funds to the American market, and to
creased about $1 billion more than in encourage the investment of American
1959. The new funds went initially to short-term funds abroad.
rebuild the institutions' liquidity, reThe outflow of gold and short-term
Bank deposits rise
duced by the heavy credit expansion of dollar assets occasioned by these and
The easing of bank reserve positions the year before. In recent months, other international transactions was
involved the use of all the major however, an expanding volume of such stepped up during the year, from a $2%
weapons of monetary policy. Discount funds has again begun to enter the billion annual rate in the first two quarrates were lowered in June, August, mortgage market. With the general ters to a $4K billion rate in the third
and September. Reserve requirements supply situation thus easing, less than and—reflecting some special payments
were reduced in September and Decem- half the February reduction in maxi- and considerable speculative activity—
ber; and beginning late in November mum rates permissible for FHA-backed to over $5K billion in the closing quarter
all the banks' vault cash was counted lending has been offset by the subse- of the year. With foreign short-term
as legal reserves in meeting the re- quent increase in discounts.
rates declining in late 1960 and early
quirements. Open market operations
These fund-supply patterns have 1961 and speculation subsiding since
from April on more than offset the gold been quite in line with those of other midwinter, the outflow has apparently
outflow in its effect on reserves. Over recent downswings. As individuals' slackened this spring, though the data
the four quarters ending last March, concern for security increased with the are not yet complete.
commercial bank fund sources reflected business downturn, savings deposits
The tightening effects of this capital
these actions by a rise of over $8 billion rose and, after a lag of some months, movement on the U.S. money market
in time deposits and an increase of $2 mortgage money eased.
have been offset by the tapering of dobillion in demand deposits, while memmestic demands and the expansionary
ber bank borrowings were reduced $K Foreign fund supplies
Federal Reserve policies noted above.
billion. Also contributing to the exThe fall of American short-term This has meant that the disparity
pansion in bank fund sources were re- interest rates coincided with increases, between U.S. and foreign money rates
tained earnings totaling $1 billion and rather than decreases, in the major has continued substantial despite the
new stock issues of nearly $% billion.
foreign money markets through the easing abroad.
The larger part of the additional
funds so obtained was absorbed temporarily by the purchase of short-term
Table 1.—Public and Private Debt, End of Calendar Year, 1956-60 *
Treasury issues, although there was
(Billions of dollars)
some increase in holdings of securities
Gross
Net
and in business and other loans.
The behavior of commercial bank
1959
1957
1958
1957
1958
1959
1956
1960
1956
1960
fund sources and uses has paralleled
fairly closely the experience of earlier Total public and private debt
707. 5 739.4 783.5 846.3 882.9 831.1 869.1 917.7 986.0 1, 026. 8
output contractions, except that busi- Total public debt 2
271.1 283.6 298.8 301.0 348.5 354.2 367.8 384.4
268.1
387.6
225.4 224.4 232.7 243. 2 241.0 300.5 301.7 310.6 322.0
320.5
Federal Government and agency 2
ness loans have held up better in 196042.7
52.5
62.4
67.2
46.7
50.9
57.2
State and local governments 3_
55.6
60.0
48.0
439.4 468.2 499.9 547.5 581.9 482.6 514.9 549.9 601.7
639.2
Total private debt
61.
Savings flow
diaries up
to
other
interme-
The flow of personal savings to nonbank financial intermediaries has been
rising moderately since the business
downturn and, demand being off somewhat as noted earlier, bond and mortgage yields moved gradually downward
through the first quarter of 1961.
With economic activity higher for
1960 as a whole than for 1959, the total
inflow to life insurance and pension
carriers was up almost $1 billion last
year. The carriers increased their purchasing of mortgages and corporate
stocks while continuing to acquire
246.7
112.2
134.6
72.6
62.0
259. 5
121.2
138.4
75.8
62.6
281.6
128.9
152.7
84.3
68.4
295.0
137.5
157.6
87.3
70.2
274.9
120.3
154.6
84.4
70.2
293.4
134.9
158.5
87.1
71.5
309.5
146.0
163.5
90.9
72.6
335.8
155.6
180.2
101. 1
79. 1
352.3
165.9
186.3
104.8
81.6
Individuals
and unincorporated enterprises... 207.7 221.5
Farm 5
19.5
20.3
188 1 201 2
Nonfarm
94.1 102.2
1-4 family mortgages
27.2
29.4
Other mortgages.
_
42.5
45.3
Consumer
13.2
Commercial
13.3
6
Financial _. _
11.1 11.1
240.4
23 3
217 0
111.8
32.8
45 5
14. 1
12.8
265. 9
24 0
241 9
124.4
36.6
52 1
15.4
13.4
286.9
25.4
261 5
134.7
39.2
56.0
17.3
14.2
207.7
19 5
188 1
94.1
27.2
42.5
13.3
11.1
221.5
20.3
201 2
102.2
29.4
45.3
13.2
11.1
240.4
23 3
217 0
111.8
32.8
45.5
14.1
12.8
265.9
24 0
241 9
124.4
36.6
52 1
15.4
13.4
286.9
25.4
261.5
134.7
39.2
56.0
17.3
14.2
Corporations 4 .
_
Long-term
Short-term 4
Notes and accounts payable
Other
_-
231.7
100. 1
131.7
70.3
61.4
1
Series shown in tables 1 to 3 in annual debt reports appearing in the SURVEY prior to 1960 are summarized above for the
recent period. The full set of tables on public and private debt for 1953-60 is available on request. The definitions used are
described in the October 1950 SURVEY. Estimates for the period from 1916 through 1957 appear in the July 1960 SURVEY.
2 Includes categories of debt not subject to the statutory debt limit. Net Federal debt is denned as the gross debt outstanding less Federal Government securities held by Federal agencies and trust funds and Federal agency securities held by
the U.S. Treasury and other agencies. It thus equals Federal Government and agency debt held by the public. Details of
Federal
obligations may be found in the Treasury Bulletin.
3
Data for State and local governments are for June 30 of each year.
* Long-term debt is denned as having an original maturityof 1 year or more from date of issue; short-term debt as having an
original maturity of less than 1 year.
5 Comprises debt of farmers and farm cooperatives to institutional lenders and Federal Government lending agencies and
farm6 mortgage debt owed to individuals and others.
Comprises debt owed to banks for purchasing or carrying securities, customers' debt to brokers, and debt owed to life
insurance companies by policyholders.
Sources: U.S. Department of Agriculture, Agricultural Research Service; U.S. Departmentof Treasury; Board of Governors
of the Federal Reserve System; Federal Home Loan Bank Board; U.S. Department of Commerce, Bureau of the Census and
Office of Business Economics.
* BUSINESS STATISTICS
WlontkL
J_ HE STATISTICS here are a continuation of the data published in the 1959 edition of BUSINESS STATISTICS, biennial Statistical Supplement
to the SURVEY OF CURRENT BUSINESS. That volume (price $2.25) contains monthly (or quarterly) data for the years 1955 through 1958 and
monthly averages for all years back to 1929 insofar as available; it also provides a description of each series and references to sources of monthly
figures prior to 1955. Series added or significantly revised since publication of the 1959 BUSINESS STATISTICS are indicated by an asterisk (*) and a
dagger (f), respectively; certain revisions for 1958 issued too late for inclusion in the aforementioned volume appear in the monthly SURVEY
beginning with the July 1959 issue. Except as otherwise stated, the terms "unadjusted" and "adjusted" refer to adjustment for seasonal
variation.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely. Data from private sources are provided
through the courtesy of the compilers, and are subject to their copyrights.
1961
1960
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
March
April
May
June
July
SeptemDecemAugust
October November
ber
ber
January
February
March
April
GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT f
Seasonally adjusted quarterly totals at annual rates: t
National income, total
bil. of dol_-
414.4
419.4
419.3
416.9
do
do
do
do
._ _ do _.
do
290.2
268.7
222.1
9.9
36.7
21.5
295.0
273.1
225. 5
10.0
37.6
21.9
297.2
274.9
226.0
10.1
38.8
22.3
295 2
273 2
223.6
10 3
39.3
22 0
293 3
271.5
221.2
10.4
39.9
21.8
Proprietors' income, totalc?
- -do _ _ .
Business and professional^
do
Farm
do
Rental income of persons __ __
do . .
Corporate profits and inventory valuation adjustment, total
_
__ bil. ofdoLCorporate profits before tax, total
do
Corporate profits tax liability
do
Corporate profits after tax_
do
Inventory valuation adjustment
_ _ ...do
46.0
35.4
10.6
12.5
48.1
36.0
12.1
12.5
48.3
36.1
12.2
12.5
48 8
35.9
12 8
12.5
48
35
13
12
48.0
48.8
23.8
25.0
-.8
45.3
45.7
22.3
23.4
-.4
42.2
41.5
20.3
21.3
.7
41 0
40 7
19.8
20 8
.4
Compensation of employees, total _
Wages and salaries, total _.
Private
Militarv
Government civilian
Supplements to wages and salaries
Net interest
5
5
0
5
do
17.8
18.5
19 1
19 4
19 6
do
501.3
505.0
503 5
503 5
499 8
323.3
44.2
150.5
128.6
329.0
44.5
153.5
130.9
328
42
152
132
330
43
152
134
328 8
39 2
153 0
136 6
do
do
do ...
do
79.3
40.8
27.1
11.4
75.5
40.7
29.5
5.3
70 8
40.5
29 7
.6
66 0
40.3
28 7
30
61
39
26
4
Net exports of goods and services
do
Exports
._
do
Imports.
-.
-_ _ - _ - _ _ _ _ .-do _ _ _
Government purchases of goods and services, total
bil. ofdoL.
Federal (less Government sales)
_ do
National defense 9
do
State and local
do
1.2
25.2
23.9
2.0
26.4
24 4
3.7
27 3
23 5
4 6
27 0
92 4
5 3
27 4
22 1
97.5
51.8
44.9
45.7
98.6
51.7
44 7
46.9
100.7
52 7
45 1
48 0
102
53
45
48
Gross national product, total. _
Personal consumption expenditures, total.. _ do
Durable goods
do__ .
Nondurable goods._._do
Services
__ __ _ _ .
do ...
Gross private domestic investment, total
New construction
Producers' durable equipment
Change in business inventories
3
7
7
9
8
2
9
7
1
3
7
8
104
54
47
50
0
0
5
5
7
7
2
0
Personal income, total _ _
Less: Personal tax and nontax payments.
Equals: Disposable personal income
do
do_ _ _
do
396.2
49.2
347.0
404 2
50.0
354.1
408 0
50.5
357.5
408 5
50 4
358 1
407 5
50 3
357 2
Personal saving §
do ...
23.7
25.2
29.2
27 2
28 3
bil. of dol—
440.5
442.2
438.0
437.0
432.4
294.8
41.8
141.1
112.0
298.3
41.9
143.2
113.3
296 9
40.2
142.3
114 4
297 6
41 2
141 3
115 2
294 7
37 5
141 1
116 1
66.2
34.0
22.4
9.8
62.8
33.8
24.2
4.8
58.6
33.6
24.4
.6
54
33
23
2
50
32
21
3
-.1
.7
2 2
79.6
41.8
37.8
80.3
41.8
38.6
GNP in constant (1954) dollars
Gross national product, total
Personal consumption expenditures, total. ..do
Durable goods
do
Nondurable goods
do
Services
do
Gross private domestic investment, total
New construction
.
Producers' durable equipment
Change in business inventories
Net exports of goods and services
do
do
do
do— do
Government purchases of goods and services, total
bil. of dolFederal
do
State and local
do
9
5
8
4
3 4
6
4
9
8
38
80.3
81 1
83 3
41 2
41 4
42 6
39.1
39.7
40.7
r Revised.
f Revised series. Estimates of national income and product and personal income have been revised back to 1957; revisions prior to the 2d quarter 1959 (and prior to Mav 1959
for personal income) appear on pp. 8 ff. of the July 1960 SURVEY.
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
591288°—61-
S-l
SUEVEY OF CUEEENT BUSINESS
S-2
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
March
BUSINESS STATISTICS
May 1961
1960
April
May
June
July
1961
August
Septem- October Novem- December
ber
ber
January
February
March
April
GENERAL BUSINESS INDICATORS—Continued
PERSONAL INCOME, BY SOURCE*
397.0
401.9
404.7
406.1
407.3
408.2
408.8
409.7
409.0
406.9
406.6
406.2
' i 408. 0
' 409. 8
410.3
Wage and salary disbursements, total
_ _ do_
Commodity-producing industries, total — do
Manufacturing only
do_ _
Distributive industries
- - --do
Service industries
_ _ _
_ _ _ _
do
Government
_ _ _ _ _ do
Other labor income
do_Proprietors' income:
Business and professional
do
Farm
_
_do
269.3
111.6
88.8
70.8
40.0
46.9
10.8
271.7
112.1
88.6
71.8
40.5
47.3
10.8
273.6
113.3
89.5
72.0
40.7
47.6
10.9
274.0
112.9
89.2
72.2
41.1
47.8
11.0
275.1
112.8
88.7
72.4
41.3
48.5
11.1
275.1
111.5
87.7
72.9
41.6
49.0
11.2
275. 0
111.2
87.5
72.7
41.9
49.2
11.2
274.8
110.9
87.2
72. 5
42.0
49.4
11.3
273.6
109.5
86.2
72.5
42.0
49.6
11.1
271.4
107.3
S4..6
72.3
42.0
49.8
11.0
271.4
107.2
84.4
72.1
42.1
50.0
11.0
271.0
106.5
84.0
72.0
42.2
50.3
10.9
272. 1
107.3
'84.4
'71.9
42.3
'50.6
10.9
274.3
109.0
85.7
72.1
42.4
50.8
10.9
35.4
10.1
35.7
11.7
36.0
12.1
36.2
12.5
86.2
12.0
36.1
12.2
36.1
12.2
36.1
12.6
35.9
12.9
35.7
12.9
35.5
12.9
35.4
13.0
35.5
'13.0
35.5
12.8
Rental income of persons
- - do__ .
Dividends
- do __
Personal interest income
do
Transfer payments
do
Less personal contributions for social insur do_ --
12.5
13.9
25.9
28.3
9.2
12.5
13.9
26.2
28.6
9.2
12.5
13.9
26.5
28.4
9.3
12.5
13.9
26.8
28.5
9.3
12.5
13.9
27.1
28.7
9.3
12. 5
14.0
27.4
29.1
9.4
12.5
14.0
27.5
29.7
9.3
12.5
14.1
27.6
30.0
9.3
12.5
14.1
27.6
30.5
9.2
12.5
14.0
27.7
30.9
9.2
12.5
14.0
27.7
31.0
9.4
12.5
14.0
27.7
31.1
9.4
12.5
14.0
27.6
' i 33. 6
9.4
12.5
14.0
27.6
32.2
9.5
do__
382.7
385. 9
388.3
389.3
391.1
391.8
392.4
393.0
392.1
390.1
389.8
bil of dol
7.89
9.28
8.98
9.53
7.70
38.68
3.09
1.55
1.54
3.76
1.88
1 88
3.62
1.80
1.81
4 01
1.95
2 06
3.01
1.40
1.60
3.50
1.66
1.84
.22
.25
.47
1.18
2.68
.27
.29
55
1.42
2.99
.25
.24
.47
1.50
2.91
24
^
.46
1.58
2.99
21
.15
.44
1.16
2.73
.26
.16
.55
1.46
2.74
Of dol
35.15
36.30
35.90
35 50
34.4
333.8
do
•,
14.10
7.15
6.95
14.70
7.40
7.30
14.65
7.35
7.30
14 40
6.85
7 55
13.8
6.5
7.3
13.6
6.5
7.2
1.00
1.00
2.00
5.75
11.35
1.05
1. 10
2 15
5 70
11.60
1.00
1.00
1.90
5.60
11.75
90
1.00
1 80
5.70
11 65
1.0
.7
1.9
5.6
11.5
1.0
.6
2.1
5.9
10.6
Seasonally adjusted, at annual rates:t
Total personal income
bil. of dol__
Total nonagricultural income
389.3 ' i 392. 9
393.6
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly totals:
A 11 industries
IVJdJ U >J LUI
N
,
«
K|
.
,
nnrl ^ i rhmtrips
do
2
g
ivimmg
___
_
T
t f'n nthp than rail
Public utilities
do
do
Seasonally adjusted quarterly totals at annual rates:
A l l inrhiqtrioa
bil
T) urauie
hi ^ouab
nd i' Ur\LI> lt_F 'PS.~7
Railroads
do
Public utilities
do
2
FARM INCOME AND MARKETINGS^ 1
Cash receipts from farming, including Government
payments total
mil. of dol
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
1947-49=100
Crops
-
- do
Livestock and products
do
Indexes of volume of farm marketings, unadjusted:
All commodities
1947-49—100Crops
do
Livestock and products
do
2,169
2,211
2,316
2,509
2,754
3,023
3,390
4,300
3,768
3,159
3,111
' 2, 309
2,291
2,150
583
1,567
406
906
236
2,199
675
1,524
399
824
268
2,298
672
1, 626
431
894
265
2,464
905
1,559
413
875
246
2,687
1,236
1,451
399
779
256
2,991
1,413
1,578
384
911
268
3,368
1,730
1,638
378
955
290
4,000
2,170
1,830
394
1,077
335
3,712
1,991
1,721
380
990
326
3,121
1,530
1,591
403
861
297
3, 065
1,438
1,627
408
938
247
' 2, 287
824
' 1, 463
' 376
819
238
2,272
606
1,666
421
925
279
88
54
115
90
63
112
94
63
119
101
84
114
110
115
106
123
132
116
138
161
120
164
202
134
152
186
126
128
143
117
126
134
119
94
77
107
93
56
122
98
53
131
98
59
128
104
58
138
116
90
135
128
132
126
143
149
138
157
177
142
189
233
155
172
210
144
143
158
131
143
160
131
104
86
118
104
57
138
111
110
109
109
103
107
108
110
106
101
102
103
104
v 106
111
110
113
95
110
108
114
97
110
107
115
97
110
106
116
98
103
99
109
94
106
98
117
98
108
102
117
98
110
103
119
98
106
100
114
97
100
96
106
97
101
95
109
97
102
96
111
-97
103
'97
112
95
*106
p 100
P113
^96
112
114
122
112
106
111
115
120
113
104
111
115
120
113
105
112
116
121
115
104
107
110
104
112
102
111
115
99
121
101
112
117
110
119
102
114
121
123
120
101
110
115
117
114
100
106
108
108
108
101
106
109
101
112
101
108
111
104
114
'101
108
111
' 104
113
' 101
P109
P113
P112
P113
P102
INDUSTRIAL PRODUCTION t
Revised Federal Reserve Index of Quantity Output
Unadjusted, total index (including utilities)!
1957=100By industry:
Manufacturing, total
do. _
Durable manufacturesdo
Nondurable manufactures
do
Mining
__
do
Utilities
do
By market grouping:
Final products, total
Consumer goods
_ _
Automotive and home goods.
Apparel and staples
Equipment, including defense
do
do
do_do
do
104
105
107
110
102
100
105
98
109
108
98
99
Materials
do
100
M03
104
100
97
96
108
106
105
99
95
90
90
90
91
Durable goods materials
do
^96
111
104
110
111
110
112
' 108
112
110
106
112
' 109
110
pill
Nondurable materials
do
' Revised.
f> Preliminary.
i Italicized total excludes stepped-up rate of National Service Life Insurance dividend payments; total disbursements of $150 million multiplied
by 12 (to
2
put on annual rate basis) amounted to $1.8 billion. Figures for transfer payments and
total nonagricultural income reflecting similar exclusion are $31.8 billion and $391.1 billion.
Estimates
3
for January-March 1961 based on anticipated capital expenditures of business.
Estimates for April-June 1961 based on anticipated capital expenditures of business. Anticipated expenditures
for the year 1961, and comparative data for 1959-60, appear on p. 14 of the March 1961 SURVEY.
JSee note marked "t" on page S-l.
cf Revised beginning 1958; revisions prior to May 1959 will be shown later.
9 Includes data not show^i separately.
fRevised series. For figures back to January 1955 for total and summary groups (seasonally adjusted), see p. 6 of the January 1960 SURVEY; for other information and earlier figures back
to 1947 (1919 for total industrial production, including utilities), see the December 1959 Federal Reserve Bulletin and the separate Federal Reserve publication, "Industrial Production: 1959
Revision" (available from the Board of Governors of the Federal Reserve System).
SUEVEY OF CUKKENT BUSINESS
May 1961
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
S-3
1960
March
April
May
June
July
1961
SeptemOctober Novem- DecemAugust
ber
ber
ber
January
February
March
April
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION— Continued
Revised Fed. Reserve Index of Quantity Output— Con.
Seasonally adjusted, total index (including utilities) f
1957=100By industry:
Manufacturing, total
do
Durable manufactures 9 -- - -- -Primary metals
Iron and steel
Fabricated metal products _
Structural metal parts
109
110
109
110
108
107
106
105
103
102
102
102
»105
109
110
110
110
108
107
106
104
102
101
101
102
P105
do
do
-do .
do
do
108
106
99
100
104
101
107
105
106
104
102
101
98
96
95
94
106
109
107
102
95
f 73
69
99
do
do _
do
108
104
115
do
-do
do
94
92
108
104
88
84
108
106
107
102
114
109
104
115
109
105
114
110
107
114
104
118
89
102
115
89
106
120
92
102
120
84
do
do
__do
do
_ __do
119
106
110
116
114
117
110
114
122
113
120
111
110
124
115
do
do
do
do
do
112
111
124
99
112
113
110
127
99
113
108
104
119
126
103
do
do
do
do
do
73
69
80
72
106
105
78
73
105
104
74
68
101
101
69
64
101
98
107
103
113
105
101
112
102
100
105
102
98
107
101
96
108
101
96
109
102
113
90
101
114
88
102
115
89
103
116
89
97
103
90
93
97
89
89
89
88
121
114
109
123
117
121
114
111
124
317
122
112
102
121
115
118
109
103
118
109
119
109
100
117
113
119
107
95
117
110
116
103
96
114
107
116
101
100
111
107
r 113
115
113
127
104
113
116
115
127
104
112
116
113
128
103
112
115
111
127
103
112
113
106
122
97
112
113
104
122
101
112
112
101
123
99
110
111
98
119
96
109
r HI
r
98
f 111
102
116
96
113
109
106
122
126
107
111
108
123
128
107
112
109
125
132
111
112
108
125
131
115
113
108
124
131
112
112
107
121
127
111
113
108
121
125
109
114
108
120
126
108
112
106
120
125
105
111
104
f 110
102
118
123
r
106
115
108
108
106
113
115
108
108
106
116
117
109
109
111
115
122
109
109
110
115
117
110
109
111
111
115
109
109
109
114
111
110
109
110
114
110
111
111
112
115
109
109
109
108
117
105
110
110
109
115
do
--- do __
do
__do
-do
- _do____
96
86
96
96
104
101
98
87
97
97
106
115
97
86
96
96
103
114
97
78
99
99
97
116
r
98
80
100
100
96
116
96
77
99
99
92
114
97
81
99
99
88
116
98
77
101
101
95
113
98
81
99
98
107
109
do
__.do
do __
124
123
126
123
122
125
122
121
125
124
123
124
110
113
114
111
115
117
112
117
121
114
113
116
117
116
119
114
112
114
do
do
do
do
Beverages and tobacco
do
Drugs, soap, and toiletries
do
Newspapers, magazines, and books._do
Consumer fuel and lighting
do
Machinery
Nonelectrical machinery
Electrical machinery
Transportation equipment 9
Motor vehicles and parts
Aircraft and other equipment
-
Instruments and related products,
Clay glass and stone products
Lumber and products
Furniture and fixtures
Miscellaneous manufactures
Nondurable manufactures
Textile mill products
Apparel products
Leather and products
Paper and products
Printing and publishing
Newspapers
Chemicals and products
Industrial chemicals
Petroleum products
-
do _
do
- --do
do
do
-
Rubber and plastics products
Foods and beverages
Food manufactures
Beverages
Tobacco products
Mining
Coal
Crude oil and natural gas
Crude oil
Metal mining
Stone and earth minerals
Utilities
Electric
Gas
_
_ _-
_
Nondurable materials 9
Business supplies
Containers
General business supplies
Business fuel and power 9
Mineral fuels
Nonresidential utilities
Revised.
* Preliminary.
_
100
94
118
r
124
r
T
r
r H9
r
125
106
103
110
110
f 111
113
r
p 113
P 105
101
111
107
P 115
101
f 110
110
108
116
' 97
76
105
r
111
104
119
P in
P 113
112
r
111
104
119
p 112
105
p 106
110
111
96
67
09
99
107
107
P
v
P
P
96
77
gg
gg
P 109
•p 114
p 109
105
97
118
94
78
118
90
73
116
r §Q
P 103
p 92
110
104
114
110
106
113
108
106
109
109
109
109
no
115
114
115
110
114
114
113
109
113
111
114
109
r 114
113
108
113
110
114
110
114
113
114
111
113
122
115
111
118
116
111
118
116
119
' 119
103
105
99
121
103
86
102
103
100
119
99
88
101
102
98
117
99
99
100
101
104
99
112
97
106
103
97
103
98
105
101
94
94
98
102
99
91
91
95
99
98
90
88
95
98
111
111
111
112
109
110
108
111
109
110
107
111
109
110
106
112
108
110
109
110
107
108
T ins
r 108
r HO
109
107
112
107
104
98
'•102
96
' 122
103
101
'101
101
119
119
121
122
119
121
123
118
114
108
122
115
114
118
117
115
121
121
120
123
120
118
122
117
113
118
113
118
112
108
114
120
113
108
115
122
113
109
115
121
114
110
108
115
110
119
110
118
112
120
112
120
113
118
do
do
do
do
do
__ do
104
105
104
115
102
93
102
104
102
115
101
89
do
do
_ _ do
do
do
108
107
117
106
105
_ _ do
do___
do
do
' 124
117
119
113
121
123
118
112
109
116
114
108
119
112
105
119
110
103
115
116
121
115
110
115
119
114
110
114
113
114
110
112
122
113
120
111
122
116
122
111
120
115
112
119
116
104
106
104
117
105
89
103
105
103
120
99
89
104
106
104
121
101
88
103
105
103
121
95
83
103
105
101
120
101
87
108
105
110
104
109
107
105
115
104
110
106
102
115
98
110
106
101
110
102
110
105
100
106
101
109
110
109
109
109
110
109
108
110
110
110
107
112
111
111
108
113
112
113
113
113
103
96
103
97
102
96
103
97
'102
fSee corresponding note on p. 8-2.
' 113
r 103
100
99
111
r
108
r
P 94
107
111
101
123
108
112
108
97
P 100
P 88
107
110
101
123
109
113
111
120
'88
86
88
88
r 106
111
115
115
121
88
86
107
110
102
110
114
114
120
p 104
*>99
P 111
98
125
120
109
109
111
124
119
121
f 95
r 99
r
98
r
101
96
108
T
98
78
99
124
118
r
94
101
r
P 128
124
111
115
115
do
do
do
f
113
97
111
'96
r
94
"•96
r
81
78
98
96
r
126
126
112
116
116
do
do
do __
r
71
66
97
97
125
125
112
117
121
do
do
._ d o _ _ _
_
78
125
120
Apparel and staples
Apparel, incl. knit goods and shoes
Consumer staples 9
Processed foods
Materials
Durable goods materials 9
Consumer durable.
Equipment
Construction
97
r 99
127
121
Automotive products
Autos
Auto parts and allied products
Equipment, including defense 9
Business equipment
Industrial equipment
Commercial equipment
Freight and passenger equipment
Farm equipment
83
76
108
107
126
122
do
do _
_ _- _ do
Home goods9
Appliances, TV, and radios
Furniture and rugs
85
80
109
107
124
123
_
By market grouping:
Final products, total
Consumer goods
Automotive and home goods
r
109
110
122
122
9 Includes data not shown separately
r
121
r
120
r
103
QQ
102
Q7
121
120
119 '
Q7
110
r
r
112
118
117
123
Q§
118
95
98
125
111
117
' 115
71
116
110
108
p 115
p HE
116
116
125
09
101
98
r QQ
r 118
r 91
r 103
117
93
104
100
P 102
QC
QO
r 80
r oo
95
T 97
108
on
84
95
98
10Q
P102
SUEVEY OF CUEEENT BUSINESS
S-4
May 1061
1960
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
March
April
May
June
July
1961
DecemOctober iS ovemAugust September
ber
ber
January
February
March
April
GENERAL BUSINESS INDICATORS—Continued
BUSINESS SALES AND INVENTORIES§
r
bil. of doL.
61.3
62.5
61.9
61.8
60.9
60.7
60.4
60.3
59.9
59.4
58.7
Manufacturing, total
_
do
Durable goods industries
do
Nondurable goods industries
do
Wholesale trade total
- do
Durable goods establishments
do
Nondurable goods establishments
do_ __
Retail trade total!
-do
Durable goods stores
do
Nondurable goods stores
do
Manufacturing and trade inventories, book value, end
of month (seas ad j.), total
_ __bil. of dol__
30.8
15.2
15.7
12.2
4.5
7.8
18.2
5.9
12.3
31.0
15.0
16.0
12.6
4.7
7.9
18.9
6.3
12.6
31.0
15.1
15.9
12.4
4.5
7.9
18.4
6.0
12.4
30.8
14.9
15.9
12.5
4.5
8.0
18.5
6.0
12.5
30.4
14.7
15.7
12.3
4.4
7.9
18.1
5.7
12.5
30.1
14.4
15.7
12.3
4.5
7.9
18.2
5.8
12.4
30.1
14.4
15.7
12.2
4.3
7.8
18.1
5.8
12.3
29.6
14,1
15. 5
12.2
4.3
7.9
18.5
6.1
12.5
29.3
13.8
15 4
12 2
4.2
80
18.4
5.9
12.5
29.1
13.6
15 5
12 3
4 3
80
17.9
5.5
12 4
28.7
13.2
15 5
12 2
4 3
80
17 8
5.4
12 4
92.3
92.6
93.2
93.5
93.4
93.3
93.1
93.0
92.7
92.4
92.0
••91.7
91.1
54.3
31.8
22.6
54.7
31.9
22.7
55.0
32.1
22.9
55.1
32.2
22.9
54.9
32.0
22.9
55.0
32.1
22.9
54.7
31.8
22.9
54.4
31.4
23.0
54.0
31.1
22.9
53.7
30.9
22.9
53 7
30 8
22 9
53 6
30 7
22 9
53.3
30 3
23.0
12.8
6.8
6.1
25.1
11.6
13.5
12.9
6.8
6.1
25.0
J1.6
13.3
13.1
6.9
6.2
25.2
11.8
13.4
13.0
6.9
6.1
25. 3
11.8
13.5
13.0
7.0
61
25.4
11.9
13.5
13.1
7.0
6.1
25.2
11.7
13.6
13.1
6.9
6.2
25.3
11.8
13.6
13.2
6.9
6.3
25.4
11.9
13.5
13.3
6.9
6 4
25.4
11.9
13.5
13 2
68
6 4
25 4
11.9
13 5
13 1
6 7
6 4
13
6
6
24
11
13 3
6 7
6 6
24 4
11.0
13 4
32.47
30.82
30.84
31.56
27.89
30.75
31.10
31.06
29.65
28.79
27.69
T
16.08
2.69
1.75
1.70
5.07
2.05
15.15
2.31
1.47
1.68
4.83
1.88
15.23
2.25
1.40
1.73
4.79
1.88
15.61
2.19
1.34
1.81
5.03
2.04
13. 05
1.78
1.10
1.63
4.25
1.70
14.09
1.97
1.18
1.89
4.64
1.97
14. 58
1.96
1.16
1.83
4.87
2.11
14.71
1.91
1.14
1.68
4.76
2.10
14.14
1.80
1.04
1.54
4.58
1.95
13 74
1.72
.99
1.46
4.74
2 02
12 59
1 81
1.07
1 39
4 35
1 79
r 19
Mfg and trade sales (seas, adj.), totalj
Manufacturing, total
Durable goods industries
Nondurable goods industries
_-
do
do
do
Wholesale trade total
do
Durable goods establishments
do
Nondurable goods establishments
do
Retail trade total
do __
Durable goods stores
do
Nondurable goods stores
do
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Sales, value (unadjusted), total.
bil. ofdoL.
Durable goods industries total 9
Primary metal
Iron and steel
_
Fabricated metal
Machinery (including electrical)
Electrical
do
do
do
do _
__do_ __
do
60.9
29.0
13.3
15 7
29.5
13.7
15 8
13 2
4 3
88
18 3
r 12 9
r
4o 05
r
r
17 8
53
12 5
r
r
r
T
r 25 2
r
59.7
11 6
13 6
2
7
5
9
4
r 13 5
27 42
58
1 71
99
1 36
4 48
1 83
5.6
12 7
31.22
r 14 go
1 97
1.15
1 62
5 06
2 02
114 0
3.86
3.64
3.66
2.62
3.54
3.57
2.91
3.04
3.62
3.50
Transportation equipment
do
2 87
2 82
3 30
2.48
2.31
2.26
2.26
1.46
2.33
1.73
1.74
2.27
2.12
Motor vehicles and parts
_ do
1.71
1 86
1 63
.92
.91
.86
.90
.95
.97
.77
.90
.79
72
r
67
68
Lumber and furniture
do
79
r
.79
.78
.69
.74
.82
.83
.73
.80
. 70
.60
Stone clay and glass
do
58
76
58
15.60
15. 95
16.52
16.35
16. 39
15.67
14.84
16.67
15.52
15.05
15 10
16 62
Nondurable goods industries, total 9
-- do
14 85
4.82
4.65
r 4 51
4.54
4.57
4.88
4.97
4.80
5.01
4.70
4 60
Food and beverage
do
4 52
4 93
.42
.40
.41
.37
.43
.39
.45
.40
.43
.40
Tobacco
do
38
42
36
1.26
1.19
1.28
1.18
1.05
1.25
1.30
1.29
1
21
1 09
Textile
do
1 04
1 20
r 1 08
9
1.05
1.10
1.04
.98
1.07
1.15
1.13
1.10
1.05
98
Paper
do
1 04
1
16
1
O
r
2.43
2.47
2.36
2.45
2.39
2.10
2.45
2.40
2.17
2.07
Chemical
-- do
2 23
2 52
2 12
3.02
3.29
3.16
3.26
3.15
3.11
3.16
r 3 07
3.13
3.17
3 44
3 33
Petroleum and coal
do
3 28
.52
.55
.48
.54
.56
.51
.53
.50
.46
.45
45
Rubber
do
42
48
30.84
30.99
30.44
31.03
30.78
30.15
29.60
30.09
29.25
29.14
Sales, value (seas, adj.), total
do
28.67 ' 29. 03
29.50
r 13 71
15.06
14.42
15.17
14.88
14.41
14.08
114 2
14.73
13.81
15.00
13.62
Durable goods industries total 9
do
13 17 r 13 32
2.54
2.24
2.11
1.98
1.92
2.01
2.31
1.79
1.79
1.75
Primary metal
- do
1 76
r 1 gl
1 80
r
1.66
1.40
1.06
1.18
1.47
1.30
1.18
1.14
1.04
1.00
1.03
Iron and steel
do
1 05
l 06
1.75
1.76
1.69
1.69
1.73
1.70
1.65
1.53
1.58
1.57
Fabricated metal
do
1 55
1 63
' 1 56
4.78
r 4 65
4.75
4.74
4.77
4.70
4.66
4.59
4.83
4 61
4 58
Machinery (including electrical)
do
4 65
4 68
1.94
1.99
1.94
1.95
1.94
1.93
1.93
2.01
1.87
1.89
Electrical
do. __
1 90
1 94
1 93
3.46
3.49
3.36
3.41
3.35
3.63
3.60
3.57
3.30
3.15
Transportation equipment
_
do
2. 77
3 03
f 2 83
2.21
r 1 5Q
2 42
2.11
2.14
2.28
2.04
2.29
2.15
1.99
1.87
Motor vehicles and parts
do __
1 53
1 64
T
.94
.88
.81
.78
.93
.91
.87
.87
.79
.80
Lumber and furniture
do
74
77
73
75
.75
r
70
.70
.75
.76
.75
.73
.73
.70
.70
.70
Stone clay and °lass
do
69
r
15
71
15.92
16.02
15.72
15.72
15.52
15.67
15.89
15. 67
15.44
15.51
Nondurable goods industries total 9
do
15 50
15 78
4.66
4.71
4.72
4.63
4.63
4.69
4.70
4.63
4.66
4.74
r 4 87
Food and beverage
- do
4 73
4 79
49
.42
.40
.38
.41
.39
.39
.39
.40
.42
.39
Tobacco
do
41
41
1.29
1.20
1.27
1.23
1.20
1.20
1.15
1.26
1.13
1.14
Textile
do
1 08
^l 10
1 14
1.04
1.08
1.04
1.05
1.05
1.09
1.09
1.03
1.05
1.06
Paper
do
1 06
1 09
1 08
2.35
2.30
2.38
2.26
2.35
2.30
2.33
2.30
2.22
2.26
Chemical
do
2 26
2 30
2 39
3.26
3.18
3.16
3.18
3.17
3.23
3.19
3 20
3 19
3 22
r 3 18
Petroleum and coal
do
3 23
3 09
.48
.51
.55
.52
.48
.51
.49
.53
.50
Rubber
do_ __
.47
45
46
47
Inventories, end of month:
54.48
54. 34
54.70
54.26
54.97
54.88
54.40
54.22
Book value (unadjusted), total
_ do
54.77
53.90
54 07 r 54 08
53 84
32.06
32.25
32.18
31.73
31.57
31.18
32.14
31.75
31.40
30.81
Durable goods industries, total 9
do
30.88
30 91
30 78
4.54
4.71
4.40
4.58
4.64
4.70
4.71
4.68
4.45
Primary metal
_
do
4.69
4 61
4 51
4 57
2.58
2.82
2.54
2.83
2.84
2.82
2.81
2 75
2.67
2.71
2.76
Iron and steel
do
2 66
2 71
2 97
3.46
3.31
3. 12
3.42
3.46
3.39
3.19
3 04
2.98
Fabricated metal
do
3 00
3 02
10.72
10.48
10.76
10.56
10.40
10.57
10.66
10.33
10.33
Machinery (including electrical)
__do
10.27
10 26
10 32
10 39
r 3 94
4 12
4.04
3 94
4 09
4 06
4.04
3.98
3 96
Electrical
do
4 00
3 94
3 91
4 00
T
7.42
7.72
7.28
7.05
7.16
7.26
7.28
Transportation equipment
do
7.59
7.20
6.97
7 06
6 98
6 84
o 99
3.12
3.32
3.17
3.01
Motor vehicles and parts
_ do
3.37
3.27
3.30
3.21
3.10
3.14
3 15
3 07
T
1.88
1.88
1.92
1.94
1.92
1.89
1.93
1.90
Lumber and furniture
do
1.90
1.83
1 86
1 83
1 85
1.48
Stone, clay, and glass
do
1.48
1.48
1.46
1.44
1.40
1.40
1.39
1.39
1.43
1.45
1 48
1 47
By stages of fabrication:
T
8.5
8.6
8.6
8.6
8.6
8.5
8.5
8.5
8.4
8.2
Purchased materials
.
do
8.0
7 9
7 8
12.7
12.7
12.6
12.3
12.5
Goods in process
do
12.7
12.5
12.4
12.1
12.3
12 2
12 1
12 1
11.1
10.8
10.8
10.6
10.5
Finished goods
do
10.9
11.0
10.5
10.5
10.6
10 7
10 8
10 9
22.72
22.64
22.64
22.66
22.70
22.75
22.69
22.94
23. 04
Nondurable goods industries, total 9
do
23.09
23 19
23 16
23 06
4.69
4.67
4.66
4.72
4.71
5.06
Food and beverage
do __
4.93
5.24
5 26
5.18
5 13
5 02
4 94
2.02
1.94
Tobacco. _
-do __
1.99
1.87
1.83
2.02
1.85
1.93
2.08
2.00
2 14
2 10
2 05
2.78
2.72
2.53
Textile
do
2.73
2.76
2.75
2 57
2.66
2 58
2 63
9 8?
2 71
2 77
Paper
do. ._
1.58
1.60
1.61
1.61
1.59
1.60
1.62
1.60
1 62
1 63
1 63
1 67
1 66
4.08
4.14
4.11
Chemical
_
do
4.16
4.10
4.10
4.03
4.09
4. 14
4.19
4 23
4 27
r 4 28
"
3.22
3.22
3.27
3.32
r 3 24
Petroleum and coal
do
3.28
3.42
3 39
3. 35
3 41
3 32
3 24
3 22
1.21
Rubber..
.
. do. .
1.22
1.18
1.21
1.20
1.13
1.18
1.16
1 13
1 14
1 16
1 17
1 19
By stages of fabrication:
Purchased materials . . .
do __ 9.2
9.1
9.0
8.9
8.9
8.8
8.8
8 7
88
90
90
89
89
3i
3.2
Goods in process
do
3.1
3.1
3.2
3.2
3.2
3.1
3.1
3.1
30
31
31
10.4
10.6
11.1
Finished
goods
do
10.4
10.8
Jb'imsned goods
10.7
10.6
10.9
ll. 1
11.1
11.1
11.2
11.1
10.9
11.1
11.1
11.1
ll'.2
11.1
r
Revised. l Advance estimate. §The term "business" here includes only manufacturing and trade. Business inventories as shown on p. S-l cover data for all types of producers, both
farm and nonfarm.
Unadjusted data for manufacturing are shown below; those for retail and wholesale trade on pp. S-9, S-10, and S-ll.
J See corresponding note on p. S-9.
9 Includes
data not shown separately.
SUEVEY OF CUEEENT BUSINESS
May 1961
S-5
1960
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
March
April
May
June
July
1961
August
Septem- October Novem- December
ber
ber
January
February
March
April
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIEvS,
AND ORDERS— Continued
Inventories, end of month— Continued
Book value (seas, adj.), total
bil. of dol_.
54.34
54.66
54.95
55.10
54.90
54.98
54.71
54.38
54.01
53.74
53. 67
r
53. 60
53.34
--- do _.
do
do _
__do
_ do
do
31. 77
4.45
2.61
3.33
10.48
3.94
31.92
4.63
2.77
3.32
10.53
3.96
32.07
4.70
2.84
3.35
10. 60
4.00
32.23
4.80
2.95
3.34
10.64
4.04
32.05
4.75
2.87
3.33
10.58
4.04
32.08
4 71
2.82
3.34
10.59
4.08
31.84
4 64
2.74
3.27
10.53
4.06
31.43
4.57
2.68
3.18
10.44
4.01
31.07
4.52
2.63
3.10
10.35
3.98
30. 86
4 50
2.62
3.12
10.40
4.02
30. 76
4 49
2 63
3.02
10 32
3.98
'30
65
T
4 51
2 66
3.02
'10 28
'3.96
30 31
4 46
2 65
2.95
10 27
3.98
do_
do
- do
do
7.64
3.26
1.86
1.42
7.58
3.26
1.85
1.42
7.52
3.26
1.85
1.43
7.46
3.28
1.89
1.44
7.34
3.28
1.90
1.44
7.36
3.30
1.92
1 44
7.24
3.32
1.94
1 46
7.10
3.13
1.96
1 46
7.02
3.03
1.93
1 43
6.85
3.01
1.84
1 44
6 92
3.03
1 85
1 44
r
6 86
2.93
l 85
1 43
6 70
2.88
1 82
1 41
-
do
do
-- do
8.8
12.7
10.4
8.8
12.6
10.5
8.8
12.7
10.6
8.7
12.8
10.7
86
12.6
10.8
86
12.6
10.9
84
12 4
11.0
83
12.2
10.9
81
12 1
10.9
80
12 1
10.8
80
12 1
10 7
80
'12 1
10 6
78
12 0
10 5
Nondurable goods industries, total 9
- - do
22.57
22.73
22.88
22.87
22.85
22.90
22.87
22.95
22 93
22.88
22 91
'92 95
23 03
do
do
do .
- - do
do__
do
- - do
4.82
1.95
2.67
1.54
4.06
3.33
1.16
4.85
1.95
2.72
1.55
4.08
3.35
1.19
5.00
1.96
2.71
1.58
4.08
3.34
1.18
4.99
1.95
2.70
1.59
4.11
3.30
1.20
4.94
1.94
2.69
1.61
4.14
3.29
1.23
4.95
1.94
2.67
1.63
4.18
3.29
1.24
4.98
2.00
2.64
1.64
4. 16
3.26
1.20
5.01
2.03
2.64
1.65
4.18
3 28
1.16
4.96
2.02
2.66
1.65
4.18
3.30
1.14
4.98
2.03
2.67
1.63
4.13
3.31
1.12
5 00
2 01
2.70
1 62
4.17
3 29
1.13
do__
do
do
9.1
3.0
10.5
9.1
3.1
10.5
9. 1
3. 1
10.6
9.1
3.1
10.6
9.1
3.2
10.6
9.0
3.2
10.7
8.9
31
10.9
8.9
3.1
11.0
8.8
31
11.0
8.7
31
11.1
8.7
31
11 1
do
31.75
29.70
30.21
31.48
27.91
30.56
31.05
30.04
29.02
28.33
27 58
T
27 68
Durable goods industries, total 9
do
Primary metal
- do
Iron and steel
do
Fabricated metal
do
Machinery (including electrical)
_ _ _ do
Electrical
do
Transportation equipment (including motor vehicles)
-bil.ofdoL
15.45
1.78
.96
1.63
5.13
2.10
14.10
1.68
.92
1.68
4.82
1.84
14.59
1.99
1.19
1.72
4.73
1.84
15. 52
1.84
1.07
1.71
5.24
2.37
13.17
1.67
1.00
1.64
4.39
1.86
14.10
1.80
1.02
1.89
4.62
2.04
14. 63
1.89
1.13
1.72
4.88
2.32
13.80
1.74
.99
1.62
4.45
1.87
13 59
1.77
1.02
1.46
4.27
1.75
13. 33
1. 65
.97
1.33
4.59
2.02
12 35
1.85
1.18
1 38
4.25
1 67
r
12 76
1 85
1.10
1 38
4.46
1 79
4.05
3.21
3.39
3.80
2.82
2.90
3.31
3.31
3.52
3.58
2.63
'2. 82
3.21
Nondurable goods industries, total..
Industries with unfilled orders 0 ._
Industries without unfilled orders 1
_ do
do
do _
16. 30
3.53
12.77
15.61
3.37
12.24
15.62
3.46
12.16
15.96
3.52
12.44
14.73
3.01
11.72
16.46
3.49
12.97
16.42
3.57
12. 85
16.24
3.52
12.72
15.42
3. 35
12.08
15.00
3.14
11.87
15.24
3.25
11. 98
'14.91
r
3 19
'11.72
16.75
3.68
13.08
do.
Durable goods industries, total 9
Primary metal
Iron and steel Fabricated metal
.
Machinery (including electrical)
Electrical
-Transportation equipment
Motor vehicles and parts
Lumber and furniture
Stone clay and glass
By stages of fabrication:
Purchased materials
Goods in process
Finished goods
- -_
-
Food and beverage
Tobacco
Textile
Paper
Chemical
__
Petroleum and coal
Rubber
_
By stages of fabrication:
Purchased materials
_ _
Goods in process
Finished goods
- -
New orders net (unadjusted) , total
r
r
r
r
5 01
1 98
2.73
1 63
4. 19
3 32
1 13
5 06
1 98
2.76
1 63
4.19
3 32
1.14
8 7
30
11 2
8.8
30
11 2
31 45
r
14 70
2.14
1.27
1 66
5.07
1 96
30.29
30.35
30.47
30.11
29.19
30.01
30.40
29.21
29.02
28.70
28.50
r 29. 11
Durable goods industries, total 9
do
Primary metal
- do
Iron and steel
do
Fabricated metal
do
Machinery (including electrical) ....
do
Electrical
do
Transportation equipment (including motor vehicles)
_bil. of dol
14.64
1.72
.93
1.64
4.74
1.95
14.47
1.81
.99
1.71
4.76
1.88
14.68
1.96
1.15
1.70
4.75
1.88
14.34
1.78
.99
1.68
4.69
2.03
13. 84
1.89
1.17
1.59
4.52
1.89
14.41
1.84
1.05
1.74
4.81
2.21
14.62
1.85
1.12
1.54
4.75
2.23
13. 74
1.64
.97
1.48
4.40
1.86
13.60
1.75
1.03
1.56
4.59
1.82
13. 22
1. 77
1.06
1.46
4.67
1.93
12.88
1.81
1.14
1.52
4.54
1 83
13.36
r
I 75
r
1.03
r
1 49
T
4 59
3.68
3.49
3.52
3.46
3.20
3.33
3.82
3.69
3.06
2.83
2.66
'3.07
3.13
Nondurable goods industries, total
Industries with unfilled orders ©
Industries without unfilled orders 1 _
15.66
3.40
12.26
15.88
3.33
12.55
15.79
3.42
12.37
15.77
3.43
12.34
15.35
3.17
12.18
15.61
3.39
12.22
15.78
3.58
12.20
15. 47
3.31
12.16
15.42
3.32
12.10
15.48
3.31
12.17
15. 62
3.36
12.27
r
15. 76
r
3 30
T
12. 46
15.94
3 49
12.45
49.49
48.38
47.75
47.68
47.69
47.50
47. 45
46.44
45.80
45. 37
45.27
' 45 52
45 76
46.28
5.27
3.79
3.20
17.98
9.95
45.23
4.64
3.24
3.20
17.97
9.90
44.59
4.38
3.04
3.18
17.91
9.86
44.50
4.03
2.77
3.08
18.12
10.19
44.62
3.92
2.67
3.10
18.26
10.35
44.64
3.74
2.50
3.10
18.24
10.43
44.68
3.67
2.47
3.00
18.25
10. 63
43.77
3.50
2.32
2.94
17.94
10.40
43.23
3.47
2.30
2.86
17.62
10.20
42.85
3.41
2.28
2.73
17.48
10.21
42.60
3.45
2.38
2.73
17.38
10.09
f 42 90
T 3 59
3 76
r
2 62
2 50
2.79
2.75
17 37
17 36
9 98
' 10 04
15.16
14.80
14.55
14.69
14. 60
14.89
15. 16
14.93
14.83
14.93
14.70
'14 70
14 62
3.21
3.15
3.17
3.18
3.07
2.86
2.77
2.66
2. 57
2.52
2.67
'2.73
2.86
New orders, net (seas, adjusted), total
Unfilled orders , end of month (unad j .) , total _
do. _.
do
.do
do
Durable goods industries, total 9
__do_ _
Primary metal
do
Iron and steel .
do
Fabricated metal
__
do._ _
Machinery (including electrical)
do
Electrical
._
_ _ _ _ _ _
do
Transportation equipment (including motor vehicles)
_ bil of dol
Nondurable goods Industries, total ©
do
29.83
' 13. 88 U4.5
1 90
1.10
1 65
4.68
1 85
r 1 gg
* 42 79
BUSINESS POPULATION
Firms in operation, end of quarter (seasonally ad justed) §
thousands
4,690
New business incorporations (49 States) c?J- -number. -
17, 437
15, 446
15, 530
16, 676
14, 676
14, 993
14, 007
2 13, 760
INDUSTRIAL AND COMMERCIAL FAILURESd"
Failures, total
._
..number
1,335
1,370
1,273
1,334
1,146
1,315
1,269
1,344
1,311
1,353
1,404
1,449
1 610
Commercial service
do
Construction
_
_ _
do
Manufacturing and mining
__ _
do
Retail trade
do
Wholesale trade
_ _- _
do
Liabilities (current) , total
thous. of dol. _
Commercial service
do
Construction
.
_
do
Manufacturing and mining
do
Retail trade
do
Wholesale trade
do
120
241
224
607
143
70, 193
7 809
19,427
19, 170
14,116
9,671
121
220
215
674
140
69, 192
7 065
13, 661
18, 483
18 563
11,420
131
214
229
564
135
73, 307
6 095
10 877
31, 963
17 588
6 784
103
213
228
680
110
126, 450
22 597
18,613
41,111
28 497
15, 632
102
192
173
573
106
61, 732
3 993
11 073
21, 080
20 470
5 116
128
217
228
621
121
97, 594
5 940
27, 874
33, 097
22 556
8,127
113
218
218
604
116
80, 604
12 715
14 417
23,011
23 080
7 381
132
231
229
613
139
81, 508
16 644
17 877
16, 104
20 894
9 989
111
228
231
617
124
84, 463
7 3Q9
16 683
121
219
228
635
151
81, 520
4 '28
11 231
26 111
28 688
11 362
116
9
62
?29
693
149
88, 083
6 941
14 913
23 160
30 646
12 393
135
9
66
271
786
159
22 493
9 091
110
245
231
637
130
78, 971
3 579
28 104
18 878
9
0 199
8 211
126, 622
13 344
2() 933
9(> 579
51 i$5
15 231
Failure annual rate (seas. adj.). No. per 10, 000 concerns.
51.1
54.9
54.1
57.2
54.8
59.6
65.2
63.3
62.0
63.4
61.1
64.2
62.9
r
4,710
4 725
4 730
2
12,412
2
14. 579
114 2
J
43 1
4 740
2 16,340 '2 13, 258
2
16, 607
~
2
Revised.
1 Advance estimate.
Excludes number reported for Alaska: November 1959. 18: 1960—October 23; November, 23; December, 15; 1961—January, 10; February, 23;
March, 32.
9 Includes data not shown separately. ©Includes textiles, leather, paper, and printing and publishing industries; unfilled orders for other nondurable goods Industries are zero.
\ For these
industries (food, beverages, tobacco, apparel, petroleum, chemicals, and rubber) sales are considered equal to new orders.
§ Revisions for 1956-59 appear on p. 13 of the May 1960 SURVEY.
cf Data
are from Dun & Bradstreet, Inc.
{Revisions for 1947-58 to include data for Hawaii are available upon request.
SURVEY OF CUR-RENT BUSINESS
S-6
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
May 1061
1960
March
April
May
June
July
1961
August
Septem- October Novem- December
ber
ber
January
Febru-
March
ary
April
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
1910-14=100.-
241
242
241
236
238
234
237
240
241
242
241
244
243
239
- do
- do_ _
- - do _
do
do
222
249
238
153
210
225
255
244
158
209
228
283
248
158
209
221
223
251
158
199
226
247
265
156
194
218
191
273
152
196
222
195
271
152
197
220
193
267
147
200
218
217
254
136
204
217
220
243
141
204
218
214
233
146
207
221
213
227
150
209
224
213
240
150
208
226
231
249
145
202
- - -_do _
do
- do
- do __
228
213
223
494
211
216
257
494
216
218
245
494
239
216
203
494
235
213
239
493
239
211
198
479
269
208
181
502
272
209
165
508
261
213
181
502
248
217
181
520
254
231
178
508
259
250
172
517
260
264
161
517
250
286
178
517
Livestock and products
do
Dairv products
do
Meat animals
- do
Poultry and eggs
do
Wool
- do
Prices paid:
All commodities and services
do
Family living items
_ _ _ do
Production items
- do
All commodities and services, interest, taxes, and
wage rates (parity index)
1910-14=100
257
256
309
153
243
257
244
310
163
250
252
237
310
153
253
248
234
305
148
248
249
244
302
148
240
247
254
290
152
230
251
269
285
162
225
258
278
288
175
222
261
281
289
180
219
263
278
296
178
226
261
272
304
165
221
263
266
309
169
224
259
257
309
160
226
250
246
305
145
231
276
289
267
'277
291
268
277
291
267
275
290
265
275
290
263
274
290
262
274
290
263
274
290
262
274
291
262
275
291
265
276
291
267
277
291
267
277
290
••269
277
290
267
300
302
301
299
298
298
298
297
297
298
301
302
302
302
80
80
80
79
80
79
80
81
81
81
80
81
80
79
125. 7
126.2
126.3
126.5
126.6
126.6
126.8
127.3
127.4
127.5
127.4
127. 5
i 127. 5
129.7
123.1
116.7
118.3
112. 5
149.2
129.8
123.7
117.4
119.4
112.1
149.4
129.7
123.8
117.3
119.4
111.9
149.6
129.7
124.0
117.6
119.8
111. 5
149.7
129.9
124.2
117.7
120.0
111.1
150.0
130.1
124.1
117.6
119.9
111.0
150.3
130.3
124.3
117.7
120.3
110.0
150.8
130.7
124.8
118.2
120.7
110.9
151.2
130.8
125.0
118.3
120.9
110.7
151.3
130.8
125.0
118.4
121.0
110.8
151.4
130. 6
124.8
118.0
120.7
110.2
151.7
130.8
125.0
118.1
120.8
110.3
151.9
130.9
125.0
118.0
120.7
109.9
152.2
do
do
do
do
do
108.8
117.7
116.4
125.0
107.2
108.9
119.5
115.3
129.9
109.3
108.9
119.7
115.0
132. 9
109.7
108.9
120.3
115.0
136.1
110.3
109.1
120.6
115.8
134.4
110.8
109.3
120.1
116.6
127.3
111.3
110.6
120.2
117. 5
124. 6
110.2
111.0
120.9
118.4
124.8
110.0
110.7
121.1
118.9
126.2
109.9
110.6
121.4
119.3
126.3
110.5
109.4
121.3
119.1
126. 1
111.6
109.6
121.4
119.0
127.2
111.8
109.8
121.2
118.5
127.8
111.4
do
do
do
do
do
do
131.3
124.1
104.7
141.2
155.0
132.7
131.4
124.4
104.7
141. 4
155. 5
132.9
131.2
124.7
104.3
141.4
155.9
133.2
131.3
124.7
104.3
141.6
156. 1
133.2
131.3
124.8
104.1
141.8
156.4
133.4
131.5
124.9
103.5
141.9
156. 7
133.8
132.0
125.7
104.1
142.1
156. 9
133. 9
132.2
125.7
104.0
142.5
157.3
134.0
132.1
125. 7
104.0
142.7
157. 9
133.9
132.3
125. 6
103.9
142.8
158.0
133.7
132.3
125.9
103.6
142.9
158.5
133.7
132.4
125.9
103.7
143. 1
159.4
133.8
132.5
125.9
103.9
143.1
159. 6
133.6
do
do
do
do
do
120.9
146. 5
134.9
198.0
131.7
121.1
146. 1
134.4
198.0
131.9
121.4
145. 6
133.9
198.0
131.9
121.1
145.8
134.1
198.3
132.0
121.6
145.9
134.2
198.9
132.2
121.9
146.2
134.4
199.3
132.4
122.1
144.7
132.8
200.3
132.7
121.9
146.1
134. 1
201.2
132.7
122.5
146. 5
134.4
202.9
132.7
122.3
146.5
134. 5
202.9
132.7
122.2
146.2
134.0
205.5
132.6
122.7
146.2
133.9
205.7
132.6
123.4
145.7
133.4
205. 7
132.6
120.0
120.0
119.7
119.5
119.7
119.2
119.2
119.6
119.6
119.5
119.8
119.9
119.8
119.4
96.4
127.5
121.4
96.3
127.6
121.4
96.0
127.1
121.2
95.3
127.0
121.1
94.8
127.0
121.8
92.7
126.8
121.5
92.9
126.8
121.5
93.3
126.6
122.4
93.0
126.5
122.7
93.3
126.4
122.2
94.5
126.7
122.3
95.2
126. 6
122. 5
95.2
126.8
' 122. 1
94.4
126.9
121.3
105.5
146. 5
105.6
146.5
105.2
146.1
105.2
145.8
105.6
145.6
104.9
145.5
105.3
144. 5
105.8
144.9
105.8
145.0
105.6
145. 0
106.2
144.8
106.5
144.7
106. 2
' 144. 8
105.5
145.0
Prices received, all farm products!
Crops
Commercial vegetables
Cotton
Feed grains and hay
Food grains
_-
Fruit
_ Oil-bearing crops
Potatoes (incl dry edible beans)
Tobacco
Parity ratio §
_
do
CONSUMER PRICES
(U.S. Department of Labor indexes')
All items
1947 49—100
Special group indexes:*
All items less food
do
\}\ items less shelter
do
All commodities
do
Nondurables
do
Durables
do
Services
do
A pparel
Food 9
_
Dairy products
Fruits and vegetables
Meats poultry and
Housing 9
Gas and electricity
Housefurnishings ._
Kent
Medical care _
_
Personal care
_ _ _ _ _
flsh
_
_ _
Reading and recreation
Transportation .
Private
_
Public©
_
Other goods and services
WHOLESALE PRICESd"
(U.S. Department of Labor indexes)
AH commodities
1947-49= 100_.
By stage of processing:
Crude materials for further processing
do
Intermediate materials, supplies, etc
do
Finished goodsO.
_
do
By durability of product:*
Nondurable goods
_
do
Durable goods.
do
Farm products 9 .. Fruits and vegetables, fresh and dried
Grains
Livestock and live poultry _
do
do
do
do
90.4
104.4
78.2
86.2
91.1
111.5
79.4
85.7
90.4
116.9
77.8
85.8
89.0
109.7
77.5
85.1
88.9
112.9
75.5
84.1
86.6
98.7
74.3
80.7
87.7
104.7
74.9
79.0
89.5
109.2
73.5
80.7
89.9
107.5
70.3
81.8
88.7
99.5
72.7
82.8
89.7
106.7
75.3
84.8
90.3
103.9
75.9
85.8
90.1
110.1
76.2
83.7
88.1
101.7
73.5
82.9
Foods, processed 9
Cereal and bakery products
Dairy products and ice cream
Fruits and vegetables, canned and frozen
Meats, poultry, and fish. ___
do
do
do
do
do
107.3
120. 8
117.7
105.8
97.8
106.8
120. 9
115.6
105.8
96.7
107.3
121.2
114.9
106.3
98.5
107.6
121.2
116.0
106.9
98.1
108.9
122.5
117.3
107.3
99.5
107.8
122.0
118.0
106.6
96.8
108.1
122.4
120. 5
107.7
96.0
109.0
123.1
121.3
108.8
97.8
109.1
123.1
121.7
109.4
96.6
109.2
123. 5
122.0
110.1
97.3
109.8
123.5
121.2
112.3
98.3
110. 5
123. 6
119.7
112.6
100.2
109.6
123. 6
120.4
112.2
96.7
109.0
123.6
119.4
111.7
95.3
128.6
128.7
128.2
128.2
128. 2
128.2
127.9
128.0
127.9
127.9
128.0
128.0
128.1
128.0
110.1
124.2
94.2
50.6
108.8
128.3
110.2
124.5
94.5
51.7
108.8
128.3
110.2
124.6
94.8
50.2
108.8
128.3
110.2
124.6
95.1
47.9
108.8
128.3
110.4
124.7
95.1
47.8
110.4
128.4
110. 5
124. 6
95.4
48.9
108.2
128.4
110.4
124. 5
95.0
47.7
108.3
128.4
110.3
123.6
94.4
47.8
111.2
128.4
110.3
123.5
94.1
48.9
111.9
128.4
110.4
123.5
94.1
48.5
111.9
130.3
110. 0
123.1
94.2
50.1
112. 2
131.5
110.4
123.3
94.7
54.3
112.1
132.1
110.6
123.4
94.7
'57. 1
112.0
132.1
110.8
123.4
94.7
61.4
112.0
132.1
112.3
124.0
101.8
115.6
115.0
112.2
119.0
101.8
115.6
115.4
110.8
118.7
101.7
111.6
113.6
112.3
119.5
101.8
112.2
116.0
113.8
120.3
102.0
114.4
117.9
115.3
121.3
102.1
116.6
120.0
116.1
122.4
102.1
121.3
120.7
116.2
122. 5
102.1
120.9
121.0
116.1
123.0
102.4
120.2
120.6
116.2
123.1
102.3
120.0
120.8
117. 3
123. 5
102. 3
121.1
122.4
117.8
123.5
102.2
122.3
123.1
117.5
122.8
102.4
121. 7
122.8
115.7
119.0
102.5
117.8
120.6
Commodities other than farm prod, and foods— do...
Chemicals and allied products 9 _
Chemicals, industrial
Drugs and Pharmaceuticals
_
Fats and oils, inedible
Fertilizer materials
Prepared paint
.,.
do
do
do
do
do
do
Fuel, power, and lighting materials 9—
_ do
Coal _ _ _
.
do
Electric power
_ January 1958=100
Gas fuels
do
Petroleum and products
1947-49=100
r
Furniture, other household durables 9
do
123,5
123.7
123.2
123. 0
123.1
122.9
122.8
122.6
122.4
122.7
122.6
122. 2
122.2
122.5
Appliances, household
do
103.2
103.1
102.1
101.7
101.7
101.1
100.9
100.6
100.9
100. 4
100.1
100.0
99.8
99.8
Furniture, household _ __
do
124.9
124.9
124.9
125.0
125.0
125.0
125.0
125.7
125. 7
125.9
125.6
126.0
126.1
126.0
Radio receivers and phonographs
do
87.8
87.8
87.1
87.8
87.1
86.1
84.2
86.1
84.2
84.6
85.3
84.6
84.6
84.3
Television receivers
do
69.1
69.0
69.0
69.0
69.0
68.9
68.9
68.9
69.3
69.3
68.9
68.7
69.0
69.0
T
Revised.
1 Index based on 1935-39=100 is 213.2.
JRevis ed beginn ing Janua ry 1958 to in corpora te price re visions for individu al commo dities; rev isions for January 1958-December 1959
appear on p. 20 of the January 1961 SURVEY (revisions fo r 1952-57 £ippear on p. 24ofth e Novem" oer 1959 SiJRVEY).
§ Ratio 3f prices r sceived to prices pa id (includ ing intere st, taxes, and wage
rates).
*New series; data prior to August 1958 are avtlilable up 3n reques b.
9 Inc ludes dat a riot shxnvn separa tely.
S) Revised beginning January 1958; revi sions prior to Deee mber 1959
will be shown later.
d" For actual wholesale prices oj individu al commo dities, see respectiv e commociities.
©Goods t o users, in eluding r aw foods a nd fuels.
SURVEY OF CURRENT BUSINESS
May 1061.
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
March
BUSINESS STATISTICS
S-7
1961
1960
April
May
June
July
August
Septem- October Novem- December
ber
ber
January
February
March
April
COMMODITY PRICES—Continued
WHOLESALE PRICESd"— Continued
U.S. Department of Labor indexes— Con.
Commodities other than farm, etc.— Con.
Hides, skins, and leather products 9- 1947-49 =100__
Footwear
do__ _
Hides and skins
do
Leather
- - do_ __
Lumber and wood products
do
Lumber
do
111.8
134.2
72.0
102.8
124.5
125.9
112.1
133.5
73.5
104, 7
124.3
125. 7
111.2
132.5
72 9
103.5
123 7
124 9
110.3
132. 5
67.1
103.0
122.4
123.1
110.1
132.5
68.0
102.2
121.5
121.6
108.7
132.5
63.6
98.9
119.6
119.2
108.1
132.5
62.3
97.5
118.7
117.9
108. 5
132.5
64 1
98.1
117 7
116 3
108.5
132. 5
65.8
97.1
116.9
115.1
108.8
132. 5
64.9
99.4
116 5
115.0
108.3
132. 7
62.7
97.9
115. 7
114.3
108.2
132.8
62.3
97.5
114.9
113.4
do___
do
do_
do
do
153.9
145.3
174.3
1 55. 6
141.6
153.7
145.6
174.7
154.9
141.6
153.3
145 7
175 3
153.3
141 6
153. 2
145. 9
175. 3
153.3
141.6
153.3
146. 0
175.5
153.5
141.6
153. 3
146. 1
176.7
153. 3
141.6
151.4
146 2
176.7
152.7
135.4
152
146
176
152
140
9
7
7
6
3
153.0
148 2
177.3
152.4
140 5
153. 1
148 0
177.0
152.4
140 7
153.2
148 5
177.6
152.5
140 7
153. 1
148. 6
178.1
do
do___
do
_ do_
154.5
120.1
170.5
140.8
154.5
120. 1
170.5
140.5
154 2
120.2
170 4
140 0
153. 8
120.0
169. 9
138.9
153. 4
118.7
169.5
138.6
153.6
118.8
169.9
138.7
153.5
119.3
169.7
138.4
152 8
119 3
168 9
137 1
152.3
118.4
168 5
135.5
152 2
116.8
168 6
133.9
152 3
115. 3
169.5
131.9
152.5
115.1
170.0
132.0
Machinery and motive products 9
_
Agricultural machinery and equip
Construction machinery and equip §
Electrical machinery and equipment
Motor vehicles
Metals and metal products 9
Heating equipment
_
Iron and steel
Non ferrous metals
r 152. 0
140.5
r
109. 8
r 132. 7
71.2
100.1
'•115.
8
r
114.6
r
r
r
110.3
132.8
70. 8
102. 1
118.0
116. G
153. 0
148.6
178.1
152. 1
140. 2
152. 8
148. 7
178. 2
151.6
140. 3
152.8
114.8
170. 6
132.4
1 53. 0
115.4
1 70. 9
132.7
138. 7
162. 1
131. 1
134.9
138.7
162 1
131.3
134. 9
132 1
145.7
140.7
137.1
131 9
145 7
140. 7
138 3
Nonmetallic minerals, structural 9
Clay products
Concrete products
Gypsum products
_
do
do
do_
do
138.2
161.5
131.0
133.2
138.3
161.5
131.3
133. 2
137.9
161 7
131 5
133.2
137.8
161.7
131.3
133.2
137.8
161.8
131.3
133.2
137.8
162 0
131.1
133.2
138.0
162 1
131.0
133.2
138 1
162 2
131 0
133 2
137.9
162 3
131.0
133.2
137.9
162 3
131 0
133.2
138. P.
162 1
131.2
134.9
138.4
162. 1
130. 9
134.9
r
Pulp paper, and allied products
Paper
Rubber and products
Tires and tubes
do
do_
do
do
133.1
144.8
144. 7
137.0
133.1
145.1
144.7
137.0
133 4
145 9
146.3
137.0
133.5
145.9
146.7
137.0
133.5
145.9
146.9
141.3
133 0
145.2
145. 3
141.3
133.0
145.4
144.9
141.3
133
145
144
141
4
7
7
3
133 1
145.7
143.6
141 3
132 3
145 7
141.2
137 1
132 6
145. 7
140.1
137.2
132. 8
145.7
140.2
137. 1
r
__do. __ 96.3
100.7
do
do
95.6
do
116.6
79.4
do
102.8
do
96.3
100.7
95. 0
118.0
79.4
102. 7
96 3
100 6
94.8
118 7
79.7
102.4
96.3
100.8
94.8
121. 6
79.6
102.1
96.3
101.0
94.7
123.3
79.6
101.8
96.1
101 0
94.3
126 8
78.9
101.5
95.9
101 1
93.4
128 4
78.6
101.2
95 8
101 1
92.8
128 5
78.5
101 1
95.4
101 0
91.7
125 9
78.2
101.3
95 2
101 0
91.2
125 7
77.8
100.8
95.0
100 7
90.7
130 8
77.4
100.0
94.8
100 6
90.1
129 3
77.5
99.8
94 7
100 6
90.1
129 5
77.0
99.3
94 4
100 5
89.8
129 5
77.0
100 0
131.7
120.6
134.8
94 0
117.8
131.7
120.6
134. 8
95 4
118 3
131.7
120 6
134 8
91 1
118 3
131.7
120. 6
134.8
90 9
118.3
131.8
120.6
134 8
90 8
118.6
132.0
121.1
134 8
89 9
118 5
132.0
121.1
134 8
91 1
118 6
132. 0
121 1
134 8
q0 3
118 6
132. 0
121.1
134 8
90 6
118 6
132.1
121 2
134 8
92 4
118 6
132. 1
121 2
134 8
95 4
118 9
132. 1
121 3
134 8
94 6
118 9
132.1
121 3
134 8
r 95 7
119 4
132.1
121 2
134 8
96 1
119 6
83.3
79 6
83.3
79.2
83 5
79 2
83.7
79 1
83.5
79 0
83 9
79 o
83 9
78 9
83 6
78 6
83 6
78 5
83 7
78 4
83 5
78 5
83 4
78 4
83 5
i 78 4
i 83 8
3, 890
4,329
Textile products and apparel 9
Apparel
Cotton products
Silk products
Manmade fiber textile products
Wool products
Tobacco prod, and bottled beverages 9
Beverages, alcoholic. _ __
Cigarettes
Miscellaneous
Toys sporting goods
do
do__ _
do
do
do
r
PURCHASING POWER OF THE DOLLAR
As measured byWholesale prices
Consumer prices
1947-49=100...
do
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACEf
New construction (unadjusted), totalf
mil. of dol__
3,866
4,192
4,648
5,008
5,184
5,241
5,244
5,063
4,810
4,458
3,816
' 3, 611
2 875
3 022
3 265
3 474
3 580
3 559
3 543
3 484
3 390
3 126
2 722
r
1 600
1 235
298
1 727
1 281
378
1 885
1 352
460
2 022
1 476
469
2 089
1 526
483
2 050
1 524
446
2 023
1 492
450
1 949
1 443
424
1 879
1 392
1 700
1 267
343
761
230
302
100
395
749
224
297
102
425
784
222
321
111
462
833
294
348
118
476
860
231
354
122
482
871
238
351
123
489
889
248
358
116
489
912
256
372
106
490
923
263
do
991
1 170
1 383
1 534
1 604
1 682
1 701
do
do
do
do
334
92
253
312
378
88
356
348
394
103
515
371
419
126
586
403
459
114
637
394
444
135
687
416
New construction (seas, adj., annual rates), total t-do
54, 419
54, 166
55, 260
55, 189
55, 390
39, 263
38, 722
38 916
39 103
22 392
21 930
22 180
10, 032
2 772
4,116
1,331
5,232
9 948
2 772
4, 056
1,324
5,256
do
15 156
15 444
do
do
do
4,308
1,512
5 112
Private, total 9
do
Residential (nonfarm) 9 do
New dwelling units
do
Additions and alterations
do
Nonresidential buildings, except farm and public
utility, total 9
mil. of dol__
Industrial..
_
do
Commercial
do
Farm construction
do
Public utility
do.
Public, total..
Nonresidential buildings __ _ ___
Military facilities
Highway.
Other types
Private, total 9
._
_
do
Residential (nonfarm)
...
do
Nonresidential buildings, except farm and publicutility, total 9
mil. of dol
Industrial.
do
Commercial
do
Farm construction
do
Public utility
" do
Public, total 9 _
Nonresidential buildings.
Military facilities... ..
Highway
r 9 7A&
1 412
1 048
274
1 287
r
271
r 9QO
382
98
463
896
265
365
81
426
853
266
338
71
363
826
260
327
••806
248
r 355
r 102
404
1 579
1 420
1 332
1 094
r ^ Q3g
r 1 1 99
446
143
693
419
443
135
604
397
408
157
494
361
392
112
507
321
389
88
291
326
r 3gg
r 1()9
9fi7
r 109
55, 298
55, 325
54, 736
55, 430
56, 135
55, 262 ' 54, 846 ' 54, 754 55, 836
39 035
38 660
38 697
38 331
38 581
38 598
37 810
22 362
22 308
21 783
21 716
21 228
21 428
21 490
20 338
1 Q A"1
9 828
2 760
3,960
1,328
5 316
9 754
2 788
3,881
1,324
5 405
9 821
2 868
3,870
1,267
5 364
9 962
2 934
3,922
1,240
5 406
10 173
3 041
4, 036
1,246
5 285
10 313
3 084
4,133
1, 225
5 261
10 335
3 036
4,198
1,125
5 282
10 393
2 982
4,307
1,114
5 320
10 712
3' (m
4,516
1,036
5 393
1 0 71Q
4, 536
'1,094
r f\ 9(\9
r f{ QP9
16 344
16 086
16 355
16 638
16 628
16 405
1 fi 84 Q
1 7 r\V7
5,043
1 819
5 finn
5,109
1 453
5,114
1 285
'5,218
r
5, 208
5,149
r
5, 662
5, 953
4,560
4,692
4,698
5,083
4,811
4,878
1,236
1 283
1 265
1,200
1 392
1 430
5 304
6 168
5 639
5 768
5 987
6 121
r
Revised.
i Indexes based on 1935-39= 100 are as follows: Measured by—wholesale prices, 43.9 (April); consumer prices,
cfSee corresponding note on p. S-6.
9 Includes data not shown separately.
§Revised beginning with data for September 1955; unpublished revisions (prior to November 1958) will be shown later.
fRevised series. Data (from Bureau of the Census'} reflect the new definition and higher level of housing starts and include
are available in Census reports.
r
2 579
4,902
1 354
K 7Q1
400
i 434
Q9A
r g3
r
r
r
307
37 096
789
90 c
r ^94.
r
435
4QQ
34g
r V? fil ^
37O
oo
An r
r 1 O ^Q*}
r
4, 413
''1,261
4, 323
1,423
17,361
r 1 SO^i
46 9 (March)
construction in Alaska and Hawaii- comparable figures for 1959
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
May 1061
1961
1960
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
January
February
March
April
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION CONTRACTS
Construction contracts in 48 States (F.W . Dodge Corp.) :
Valuation total
mil. of dol
3,046
3, 360
3,337
3,472
3,597
3,295
3,119
3,319
2,886
2,718
2,485
2,235
3,166
do_ _
do
1,075
1,971
1,067
2,293
1, 025
2,312
1,237
2, 236
1,413
2,184
1,018
2,277
995
2,124
1,125
2,194
1,071
1,815
1,218
1,500
838
1,647
732
1,504
1,090
2,075
do
do
do
do
1,067
1,294
566
120
1,048
1,480
654
178
1, 110
1. 453
494
281
1,110
1,483
693
186
1,152
1,329
794
321
1,177
1,433
520
165
1,124
1,277
544
173
1,165
1,390
647
117
916
1,253
566
152
994
878
735
110
813
974
400
298
804
870
394
167
1,027
1,371
625
142
do
2,001
2,005
1,803
2,885
2,005
1,859
2 ( 232
1,796
1,775
1,875
1,661
1,360
1,912
7,826
415
5, 267
2,145
8, 406
335
5,482
2,589
9, 963
309
6,202
3,452
11,069
1, 284
5, 784
4,000
10, 637
1,526
5 230
3, 881
11,216
684
6, 366
4, 166
7,446
405
3, 829
3,212
8,541
635
4,461
3,445
11,208
207
7,045
3,957
12,101
361
9,012
2,727
93.3
74.0
90.2
125. 2
102.3
123.5
130.0
101.6
127.3
127. 3
101.5
122.2
114.9
90.6
111.1
129.6
102.9
124.8
102.0
79.9
96.4
110. 4
85.1
107.6
96.0
71.4
94.3
72.1
49.0
65. 4
72.5
'52.5
69.9
79.9
57.9
76.0
106.5
92.3
66.6
89.2
123. 4
82.8
121.7
128.2
90.7
125. 5
125. 7
83. 6
120. 6
113. 2
79.7
109.4
127. 5
85.1
122.7
100.0
67.6
94.4
107.4
74.1
104. 5
95.0
66.3
93.4
71.6
50.9
64.9
71.0
'51.3
68.4
76.6
'55.0
72.7
104.2
75.6
99.8
do ___ 1,112.0
1, 098. 0
do
1, 327. 0
1, 307. 0
1, 333. 0
1,315. 0
1, 302. 0
1, 285. 0
1,182.0
1,164.0
1. 292. 0
1,273.0
1, 062. 0
1,040.0
1, 236. 0
1,200.0
1,216.0
1,203.0
979.0
970.0
1, 105. 0
1, 078. 0
1947-49=100..
143
143
143
144
143
143
144
144
144
144
144
144
144
144
1913=100
do__
do
do __
do
716
787
778
674
691
717
789
778
674
693
719
789
778
674
696
720
789
778
674
696
722
789
778
671
704
723
789
779
671
704
727
803
787
679
704
728
803
795
681
706
730
806
795
690
716
731
806
796
691
710
732
806
808
691
710
733
806
808
695
710
733
807
808
696
713
735
808
808
696
713
Associated General Contractors (building only) ..do
E. H. Boeckh and Associates:^
Average, 20 cities:
Apartments, hotels, and office buildings:
Brick and concrete
U.S. avg. 1926-29=100..
Brick and steel
__ __
do___.
Brick and wood
do
Commercial and factory buildings:
Brick and concrete
do
Brick and steel
_.
__do __
Brick and wood
do
Frame
._
do
Steel _.
do
Residences:
Brick
_ do
Frame
__ _
_
do _
Engineering News-Record:©
Building
- .1947-49= 100__
Construction
_ __ ..
do_
Bu. of Public Roads— Highway construction:
529
529
530
535
537
538
537
538
538
538
539
536
538
538
311.4
301.6
297.6
312.0
302.0
298.0
313.3
302.7
298.9
314. 6
303.2
299.1
314.7
302.7
298.5
314.6
302.4
297.9
315.1
302.7
297.9
315.0
302.5
297.2
315.0
302.4
297.0
315.1
302.4
296.8
315.6
302.5
296.4
315.7
302.5
296.4
315.9
302.7
296.4
316.2
302.9
296.6
323.5
320.9
297.8
294.1
304.6
324.1
321.4
298.2
294.6
304.9
325. 6
322.6
299.1
295. 6
305. 6
327.1
322. 2
299.8
296. 0
303. 2
327.7
321.3
299. 2
295. 6
301.3
327.6
320.8
298.8
294.7
300.5
328.2
321.1
298.9
294.4
300.8
328.1
321.0
298. 5
293. 5
300.8
328.1
320.8
298.4
293.3
300.4
328. 2
320.8
298.2
293.0
300.3
329.0
320.8
298.2
292.2
300.1
329.1
320.9
298.2
292.3
300.1
329.1
320.8
298.1
292.0
300.1
329.5
321.2
298.1
292.4
300.4
298.6
288.2
299.0
288.7
299.9
289. 5
300.5
289.8
300.0
289.2
299.5
288.5
299.6
288.3
298.9
287.5
298.7
287.3
298.5
287.1
298.2
286.5
298.2
286.5
298.2
286.4
298.4
286.7
164.4
179.9
165.5
181.6
165. 9
182.5
166. 4
183.1
166. 3
183.3
166.4
183.4
166.0
183.1
165.9
183.2
166.1
183.3
166. 5
184.2
166. 5
184.2
166.5
184.1
167.1
184.9
168.3
187.0
Public ownershio _
Private ownership
By type of building:
Nonresidential
Residential
Public works
Utilities .. ..
Engineering construction:
Contract awards (ENR)§
Highway concrete pavement contract awards :d*
Total
thous of so yd
Airports
do
Roads
do
Streets and alleys
do
1,817
HOUSING STARTS f
New housing units started: f
Unadjusted:
Tot?! incl farm (public and private) thousands
One family structures
do
Privately owned
do
Total nonfarm (public and private)
In metropolitan areas
Privately owned
do
do
do
Seasonally adjusted at annual rates:
Total, incl. farm (private only)
.
Total nonfarm (private only)
102.1
1,187.0 '1, 283.0
1,136.0 1,253.0
CONSTRUCTION COST INDEXES
Department of Commerce composite}:
American Appraisal Co., The:
Average, 30 cities
Atlanta
New York
San Francisco
_
St. Louis
__ ._
136.6
133.7
134.4
135.0
133.4
CONSTRUCTION MATERIALS
Outnut index comnosite unadi Q CD
Seasonally adjusted 9 ©
T rnh
anrl
onrl n orh rt<? iiTinrH
Portland cement unadi
1947 49 100
do
r
133 5
' 138. 3
ffi
125.0
' 146. 2
110.2
~ rlo ~
do
' 136. 2
r
133. 9
r 142. 7
' 133. 0
129.0
134.1
' 140. 0
' 144. 8
161.6
191.4
r
146. 6
' 137. 4
r
128. 5
' 133. 2
143.3
' 141.2
191. 0
' 118.5
125. 0
191.3
r 146.
r
8
133. 2
135. 7
' 145. 5
199.0
' 138. 1
r 132. 5
127.7
' 136. 5
186.2
*• 130. 8
' 115. 6
120.0
' 129. 9
188.1
' 115.7
r 101. 7
r 121.
' 119. 4
102.9
110.3
90.5
' 104. 9
122.7
96.2
' 112. 5
100.2
111.7
90.0
r
3
106.1
117.6
158 0
REAL ESTATE
Home mortgages insured or guaranteed byFed. Hous. Adm.: Face amount
thous. of dol... 360,916 335, 700 322, 483 364, 909
173, 143 152, 633 155,139 174, 557
Vet. Adm.: Face amount
do
Federal Home Loan Banks, outstanding advances to
1,574
1, 558
1,770
1,520
member institutions
mil. of dol
New mortgage loans of all savings and loan associations estimated total!
mil of dol
By purpose of loan:t
Home construction
do
Home purchase
do
A l l other purposes _
_ _ _ _ _ __do
New nonfarm mortgages recorded ($20,000 and under),
estimated total
mil of dol
Nonfarm foreclosures
number
Fire losses
r
thous. of dol
362, 163
160, 340
416, 954
180, 818
425, 124
169, 070
433, 655
162, 077
403, 684
150,404
390, 257
141,867
410, 350
131,648
340, 975
107, 754
347, 557
124, 837
1,674
1,696
1,736
1,735
1,741
1,981
1,571
1,496
1,477
1,171
1,144
1,151
1,232
1,397
1,268
1,413
1,316
1,250
1,140
969
' 1, 001
1,342
405
458
281
404
461
286
435
509
288
471
598
328
408
569
291
430
651
332
402
591
323
394
545
311
332
508
300
373
470
328
285
400
285
'288
'395
'318
408
509
424
2,406
4,145
2, 366
3,918
2, 500
4,001
2,690
4,514
2,528
4,289
2,784
4,347
2,598
4,814
2,525
4,512
2,378
4,740
2,338
4,973
2,075
1,997
116,365
98, 106
86, 940
82, 829
82, 998
90, 037
81, 845
92, 730
84, 340
101, 903
117, 252
116,606
109, 222
Revised.
§ Data for March, June, September, and December 1960 and March 1961 are for 5 weeks; other months, 4 weeks. Contracts in Alaska and Hawaii are included beginning 1960.
tfData for March, May, August, and November 1960 are for 5 weeks; other months, 4 weeks.
t Revised series.
Data (from Bureau of the Census) are based on a different definition of a housing unit and reflect more complete coverage than the old series and inclusion of starts in
Alaska and Hawaii; approximately comparable figures for 1959 are available in Census reports.
{Revisions for Dept. of Commerce construction cost index (prior to 1958) and for new mortgage loans (1955-November 1959) will be shown later.
^Copyrighted data; see last paragraph
of headnote, p. S-l.
©Data reported at the beginning of each month are shown here for the previous month.
$ Includes data for items not shown separately.
©Revisions for 1955-56
for the composite index of construction materials output and for lumber and wood products are in the September 1959 SURVEY (p. 20); revisions for 1957-February 1960 will be shown later.
SUKVEY OF CURRENT BUSINESS
May 1961
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
S-9
1960
March
April
May
June
July
1961
August SeptemOctober November
ber
December
January
February
March
April
DOMESTIC TRADE
ADVERTISING
Printers' Ink advertising index, seas, adjusted:
Combined index
.
1947-49= 100- _
Business papers..
__do
Magazines
_ _ _ __do
Newspapers
. Outdoor
Radio (network)
Television (network)
do
-_do_ _.
do
__ 1950-52= 100.-
Television advertising:
Network:
Gross time costs total
thous. of dol
Automotive including accessories
do
Drugs and toiletries
do
Foods soft drinks confectionery
__do
Soaps cleansers, etc
Smoking materials
All other
Spot (national and regional):
Gross time costs, quarterly total
Automotive, including accessories..
Drucs and toiletries
Foods ^oft drinks, confectionery
do_ _
do
do. _
Soaps, cleansers, etc
Smoking materials
Allother
238
256
191
245
258
195
243
242
193
247
250
195
236
259
179
235
251
181
246
247
208
234
244
175
235
235
181
234
227
194
229
225
186
216
155
24
468
209
160
19
473
225
166
23
472
220
171
27
492
203
166
28
547
198
169
25
502
205
164
22
492
203
170
21
507
202
166
22
513
209
147
18
500
206
18
479
190
140
24
505
58, 603
4, 756
17, 357
11, 596
55, 923
4,527
14, 896
10, 782
55, 500
5,056
15, 108
10,059
52, 971
3,588
16, 1 75
10,043
55, 778
3,796
14, 508
8,786
50, 867
3,174
16, 888
9,575
51,415
4,022
14,791
9,203
63, 350
7,177
17, 365
11,931
63, 982
5,452
16, 574
12, 274
60,685 '61,824
4, 652
4,919
17,990 '18,690
12,218 ' 13, 093
57, 470
3,701
16,867
12 948
6,419
6,427
12,047
6,089
6,486
13, 144
5,755
6,410
13, 112
5,768
6,651
10, 747
4,377
5,464
18, 848
5,619
6,254
9,358
6,234
6,365
10, 800
6,225
6,148
14, 505
6,070
6,240
17, 372
5,421
7,030
13, 375
do_ _ 167, 981
6,102
do
- do_ __ 32, 489
54, 355
do
'160, 648
6,372
27, 220
50, 232
20, 449
11, 038
43, 548
21,569
8, 535
46, 720
do
___do
_..do-.__
Magazine advertising:
Cost total
Apparel and accessories
Automotive incl accessories
Building materials
Drugs and toiletries
Foods soft drinks, confectionery
241
247
198
1
125, 012
4, 664
22 582
37 853
1163,060
5,139
32, 472
56, 598
17, 407
7, 656
34, 850
16,056
8,457
44, 338
' 6, 506 6,791
6,049
6,814
11,114
'11,802
do_ _ 78, 529
5,532
do
8,332
do
4,254
do
6,587
do
11, 608
do
88, 366
6,534
11, 599
5,446
6,509
10, 709
86,863
6,548
10, 353
4,839
7, 650
10,115
69, 372
2,779
7,763
3,515
7,762
9,929
51, 260
742
5,639
2,118
6,257
7,816
51, 089
5,265
4,048
1,905
5,683
7,541
69, 563
8,697
3,215
4,139
6,221
8,724
98,071
6,841
14, 739
3,374
8,828
13, 144
82, 400
5,182
9,697
1,950
7,407
10, 353
64, 714
3, 575
5,341
800
6,440
9,403
48,883
1,468
6,825
1,555
3,899
8,032
64, 501
3,126
7.498
2,073
5,548
11, 364
77, 026
5, 590
8, 157
2,767
7,176
11, 554
83, 453
6,543
8,614
4,290
6,742
11,792
3,866
6,166
4,497
863
1,978
24, 848
4,324
8,546
5,657
1,205
2,093
25, 745
4,594
8,812
5,929
1,076
2,464
24, 482
3,967
5,930
5,238
722
1,981
19, 787
3,344
3,142
3,870
585
2,092
15, 654
2,682
3,005
3,531
528
2,082
14, 820
3, 857
5,524
4,969
704
1,918
21, 595
5,293
8, 253
6, 355
867
2,259
28, 119
5,771
7,322
4,865
823
2,517
26, 514
7,467
4.422
3,529
351
2,611
20, 775
2,687
2,003
1,897
445
1,676
18, 395
3,336
3,052
2,755
792
2,527
22, 429
4. 312
4, 675
3,590
807
2,696
25, 701
4, 425
6,722
4, 382
946
2,234
26, 764
thous. of lines
5,550
5,492
4,961
4,002
3,619
4,457
5,314
5,914
4,787
4,060
Newspaper advertising linage (52 cities), total.. .do
Classified
- _
do
Display total
. do
243, 585
61, 127
182, 458
256, 329
65, 827
190,501
273, 697
69, 808
203, 889
250, 556
65, Oil
185, 545
217,418
63, 504
153, 914
224, 124
63, 563
160, 561
240, 074
60, 905
179, 169
265, 798
63, 434
202, 364
256, 625
55, 626
200, 999
238, 724
48, 260
190, 464
195, 666
53, 552
142,115
188,582
50,045
138, 537
236, 150
57, 833
178, 318
14, 097
4,753
30, 496
133, 112
17, 092
4,442
31, 448
137, 520
18, 274
4,117
36, 032
145, 465
18, 018
4,796
30, 786
131, 945
12, 124
4,852
23, 240
113, 697
11,905
3,408
21, 977
123, 271
12, 253
3,802
28, 782
134, 333
17, 012
4,844
36, 341
144, 166
13, 148
4,343
34, 119
149, 390
8,507
4,610
24, 803
152, 545
11,038
6,722
19, 003
105,352
9,779
4,067
22, 779
101, 913
12, 765
4,654
29, 046
131, 853
.
_
.
Beer, wine, liquors
Household equip , supplies, furnishings
Industrial materials
__
Soaps cleansers, etc
Smoking materials
__ _ _
All other
Linage, total
Automotive .
Financial
General
Retail .__
_ _.
-
_
do
- do
do_ _ _
do
do. _
do
do. _
do
do
do
2
9, 206
2 9, 878 2 10, 908
PERSONAL CONSUMPTION EXPENDITURES
Seasonally adjusted quarterly totals at annual rates:f
Goods and services, total _ _ _ _
bil. of dol.
323.3
329.0
328.3
330.8
328.8
44.2
18.5
18.9
44 5
18.9
18.7
42 7
17.5
18.3
43 2
18 5
18.0
39.2
14 8
17.6
do
_do
do, _.
do
150.5
27.8
79.5
11.4
153.5
28.3
81.4
11.7
152.7
28.2
80.7
11.7
152.9
27.6
81.5
11.8
153.0
27 4
81.6
11 7
-- ... _. do, ._
do, _.
do
__ do
128.6
18.9
41.9
10.3
130.9
19.1
42.5
10.5
132.9
19.3
43.1
10.5
134.7
19.6
43.8
10.5
136 6
19 9
44 3
10.6
15,803 ' 15, 071 '18,019
Durable goods, total 9
Automobiles and parts
Furniture and household equipment
Nondurable goods, total 9
Clothing a n d shoes _ _ _
_ _ _ _
Food and alcoholic beverages
Gasoline and oil
Services, total 9
-Household operation
Housing
Transportation
RETAIL TRADE
All retail stores:
Estimated sales (unadjusted), totalf
do
do _
_._do
17, 419
19, 200
18, 548
18,918
18,066
18,153
17, 898
18, 648
18,385
22,153
Durable goods stores 9
do _
Automotive group
do
Motor-vehicle, other automotive dealers do _
Tire, battery, accessory dealers.
._ do
5,814
3,587
3,403
184
6,351
3,755
3,527
228
6,397
3,689
3,466
223
6,618
3,736
3,495
241
5,773
3,098
2,870
228
5,952
3,221
3,003
218
5,613
2,864
2,661
203
6,013
3,232
3,027
205
5,814
3,174
2,976
198
6,091
2,998
2,731
267
4,634
2,676
2,526
150
Furniture and appliance group
_ do .
Furniture, homefumishings stores
do
Household-appliance, TV, radio stores.. do
803
513
290
835
545
290
872
568
304
915
573
342
858
539
319
898
580
318
881
561
320
919
600
319
927
606
321
1,123
696
427
723
445
278
'682
'431
'251
'780
490
290
Lumber, building, hardware group
do
Lumber, building materials dealersd" — do
Hardware stores _
do
777
588
189
981
731
250
1,042
789
253
1,108
852
256
1,036
799
237
1,082
858
224
1,027
800
227
1,036
812
224
932
723
209
892
601
291
659
493
166
632
'475
'157
818
622
196
11,605
956
167
383
228
178
12, 849
1,360
229
526
318
287
12,151
1,084
198
436
244
206
12, 300
1,097
228
406
256
207
mil. of dol—
3 17, 460
' 4, 479 ' 5, 519 3 5, 499
' 2, 587 ' 3, 229 3 3, 139
' 2, 438
3,050
149
179
3750
16,062
11,169 ' 10, 592 ' 12, 500 311,961
12, 571
1,979
886
'775 ' 1, 187 31,025
1,190
440
187
'146
229
196
749
347
'315
464
460
202
528
'179
314
303
262
150
'135
228
183
r
Revised.
1 Not comparable with data through 1st quarter 1960 due to change in estimating procedures; figures comparable with 1st quarter 1960 are as follows (thous. dol.): 1960—2d quarter, 174,245; 3d quarter, 135,013; 4th quarter, 176,105. 2 Beginning January 1961, data represent ad page volume; comparable figures for 1960—January, 9,743; February 11,147; March, 11,966.
3
Advance estimate.
f Revised series. Revisions for 1957—March 1959 appear on p. 17 of the July 1960 SURVEY.
9 Includes data not shown separately.
J Beginning January 1960, data
were revised to reflect the kind of business classification and number of stores operated according to the 1958 Census of Business and are not strictly comparable with earlier data which were
based on information according to the 1954 Census of Business (revisions for January 1960 will be shown later).
<? Comprises lumber yards, building materials dealers, and paint, plumbing,
and electrical stores.
Nondurable goods stores 9
Apparel group
Men's and boys' wear stores
Women's apparel, accessory stores
Family and other apparel stores
Shoe stores
do
do
do
do
do ._
do _-
12, 293
957
179
370
221
187
12, 201
1,016
177
394
246
199
12, 285
1,142
192
443
274
233
12, 635
1,183
219
467
295
202
SURVEY OF CUKKENT BUSINESS
S-10
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
Mav ]',)(!!
1960
March
April
May
June
July
1961
August
Septem- October Novem- j December
ber
ber
January
February
March
April
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
All retail stores— Continued
Estimated sales (unadjusted)— -Continued!
Nondurable goods stores— Continued
Drug and proprietary stores
mil. of dol
Eating and drinking places
do
Food group
do
Grocery stores
do.
Gasoline service stations
do
1
611
1 274
4.483
4, 024
1.443
1,215
4, 365
3, 921
1,3S7
603
607
1,308
4, 586
4,129
1,457
611
1,380
4, 365
3, 911
1,489
603
1,418
4, 501
4, 037
1,524
607
1,497
4, 691
4, 220
1,587
613
1,480
4,405
3, 948
1 , 568
608
1,394
4, 517
4,073
1,470
627
1,379
4,516
4, 060
1,505
608
1,305
4,433
3,970
1,455
818
1,352
5, 087
4,579
1,511
606
1,229
4,287
3, 860
1,3S1
'588
'632
' 1. 135 ' 1,288
'4,173 'r 4, 712
' 3, 747 4. 231
'1,282
'1,423
do
do
do
do
-.do
1,691
977
139
259
360
2 094
1,219
149
340
383
1,858
1,074
143
°95
373
1,903
1,116
135
304
385
1,712
970
117
°92
420
1 , 925
1,102
154
314
400
1,941
1,141
149
305
398
2,093
1.241
165
318
404
9
, 237
1.316
327
421
3, 604
2,104
258
674
637
1, 456
829
120
2°2
359
'1,417
'796
117
239
'341
Estimated sales (seasonally adjusted), total t-do
18,219
18, 860
18,428
18,466
18,118
18,201
18,104
18, 543
18,398
17, 887
17,773
' 17, 795 ' 18, 235 U7.963
5 9?4
3, 459
3. 251
208
6 257
3, 564
3, 334
230
6, 043
3, 376
3,158
218
5, 982
3, 341
3,130
°11
5, 662
3, 006
2,797
209
5 765
3, 211
3,016
195
5 779
3,177
2,971
206
6, 076
3, 9405
3, 03
202
5.917
3,348
3,150
198
5 488
9
,970
2, 757
213
5, 359
2,848
2. 651
197
' 5. 348 ' 5 597 i c; 518
' 2, 890
3. 079
' 2. 687 2,878
203
201
Furniture and appliance group
do
Furniture, homefurnishings stores _ . do.- _
Household-appliance TV radio stores do
868
545
323
916
585
331
907
577
330
882
560
322
902
576
326
872
557
315
888
570
318
895
580
315
841
541
300
840
541
299
844
528
316
'812
' 509
'303
837
517
3°0
Lumber, building, hardware group 1
Lumber building materials dealers c?
Hardware stores
902
682
290
982
737
245
970
736
234
967
738
229
962
726
236
942
795
217
911
690
221
936
719
217
916
713
203
895
674
221
913
689
224
'900
'682
'218
942
716
226
12,295
1,149
226
433
282
208
12,603
1,179
219
455
281
224
12, 385
1,129
218
436
276
199
12,484
1,137
220
438
277
202
12, 456
1,134
9
08
452
267
207
12,436
1,180
997
461
279
213
12,325
1,134
215
448
262
209
1 2, 467
1,124
213
450
9
66
195
12, 481
1,130
211
444
283
192
12,399
1,100
210
425
278
187
12,414
1,144
224
442
281
197
612
1,314
4,474
4,013
1 452
623
1,377
4, 424
3, 966
1 496
619
1,345
4, 531
4, 069
1,451
619
1,359
4, 567
4,104
1,461
629
1,351
4, 482
4,018
1 , 474
628
1,319
4, 508
4,048
1 463
632
1,337
4, 456
4,013
1 465
637
1,344
4, 507
4,048
1,481
638
1,346
4, 594
4,127
1,464
633
1,358
4,502
4, 062
1 502
615
1,340
4, 563
4, 115
1,465
1,958
1,119
151
323
397
2,123
1,240
166
329
409
1,947
1,114
150
331
404
1,986
1,148
150
331
417
2.016
1,186
152
324
416
1,988
1,139
154
338
418
1 , 985
1,148
152
324
406
2,033
1,201
160
317
397
1,980
1,131
166
330
418
1,991
1,173
157
311
391
1, 950
1,112
152
329
422
25, 800
12. 230
13, 570
25, 790
12, 290
13, 500
25, 800
12, 360
13, 440
25, 340
12, 180
13, 160
25, 100
11, 990
13, 110
24, 960
11, 480
13, 480
25, 020
11,040
13, 980
25, 890
11, 550
14, 340
26, 380
11,800
14, 580
_ do __
do
do
do
do _
25, 120
11,640
4, 950
2, 010
2,310
24, 960
11,630
4, 970
2. 030
2,290
25, 200
11,760
5,100
2,020
2,300
25, 320
11,820
5,140
2, 050
2, 310
25, 420
11,900
5,180
2,090
2,280
25, 200
11.650
4,920
2, 190
2, 270
25, 340
11.760
5, 070
2,060
2, 290
25, 360
11,900
5,240
2,030
2, 290
do.__
do
do.__
do
13, 480
2,790
3, 050
4,290
13, 330
2,710
3,070
4,220
13, 440
2,730
3,060
4,280
13. 500
2, 740
3,040
4,360
13, 510
2,750
3,040
4,390
13, 550
2, 780
3,040
4,420
13, 580
2,790
3,020
4,410
do
4,289
4,932
4,479
4, 650
4,552
4, 556
General merchandise group 9
Department stores, excl. mail-order
Mail-order
(cata^o^ sales)
Variety Q tores
Liquor stores
__
-
Durable goods stores o
Automotive group
Motor-vehicle other automotive dealers
Tire battery accessory dealers
Nondurable goods stores 9
Apparel group
ATen's and boys' wear stores
Women's apparel, accessory stores
Family and other apparel stores
Shoe stores
Drug and proprietary stores
Eating and drinking places
Food group
Grocery stores
do
do
do
do
do
do
do
do
_ _ do _
do
_ do __
do
do _
_ __ _ do
do
_ do .
do
General merchandise group 9 - Department stores excl mail-order
Mail-order (catalog sales)
Variety stores
Liquor stores
do __
do
do. _
do
do . -
Estimated inventories, end of month:
Book value (unadjusted), total
do __
Durable goods stores
_ _ _ do __
Nondurable goods stores
do
Book value (seas. adj.), total
Durable goods stores 9
Automotive group
Furniture and appliance group
Lumber, building hardware group
Nondurable goods stores 9
Apparel group
Food group
General merchandise group
Firms with 4 or more stores:!
Estimated sales (unadjusted)* total
Firms with 11 or more stores :J
Estimated sales (unadjusted), total 9
009
'r 1 995
1, 106
163
312
383
' 12. 447 ' 12, 638
'1.130
1. 164
' 211
222
'441
440
' 277
298
'201
204
'629
'1,339
4, 590
' 4, 122
' 1, 473
639
1, 397
4, 612
4,126
1 485
' 1, 998
' 1, 159
149
331
'405
2, 063
1.193
168
334
416
24, 380
11,420
12, 960
' 24, 250 ' 24, 670
11,480 '11,550
' 12, 770 ' 13, 120
25, 020
11.500
13, 520
25, 420
11,930
5,300
2,040
2,270
25, 440
11,930
5,270
2,000
2,280
'25,160
11,610
4, 960
1,960
2,290
' 24, 880
'11,380
' 4, 770
1. 950
2,270
24, 400
10. 970
4. 400
1,940
2,250
13, 460
2,780
3,000
4,320
13, 490
2,780
2,990
4,370
13, 510
2,810
3, 050
4,320
' 13, 550 ' 13, 500
2, 850
2,790
3, 060
3,090
' 4, 290 ' 4, 250
13, 430
2, 750
3.120
4,220
4,757
4,904
4,970
6,800
4,107
' 4, 044
5,031
r
do
3,830
4,422
4,011
4,182
4,110
4,094
4,250
4,343
4,387
6,003
3,534
3,472
4,334
Apparel group 9
Men's and boys' wear stores
"Women's apparel accessory stores
Shoe stores
do
do
do
do
243
22
98
73
369
34
142
121
280
114
85
289
31
113
89
237
22
96
71
262
21
108
78
299
94
117
96
309
31
125
85
312
34
129
80
511
58
213
123
200
23
76
62
186
18
76
328
29
128
102
Drug and proprietary stores
Eating and drinking places
Furniture, homefurnishings stores
do __
do
do
110
88
37
115
93
34
113
95
37
118
97
41
118
101
35
115
100
38
118
95
37
122
96
41
120
91
45
187
91
44
113
84
28
108
80
29
121
92
36
General merchandise group 9
Department stores, excl. mail-order.- _
Variety stores
Grocery stores
Lumber building materials dealers cf
Tire battery, accessory stores
do
do - do
do
do
do
1,063
648
202
1,750
54
70
1,344
822
267
1, 867
69
88
1,191
724
230
1,687
76
89
1,248
770
238
1,753
82
95
1,124
678
225
1,868
79
89
1,266
760
245
1,691
84
85
1,258
775
234
1,836
80
78
1.361
842
243
1,786
81
82
1,453
877
253
1,747
70
SO
2, 321
1.370
523
2,093
57
108
910
548
164
1.695
48
59
897
534
179
1, 669
47
62
1,240
747
241
1,930
57
78
' 4, 216
do
'4,167
4,152
4,224
4,259
4,248
4,249
4, 264
4, 269
4,245
4,195
4,262
4, 352
A pparel group 9
"VTen's and boys' wear stores
Women's apparel accessory stores
Shoe stores
do
do
do
do
'284
'28
'115
87
'292
'29
'117
88
288
29
113
85
289
29
116
84
293
28
116
81
303
31
121
88
297
30
119
87
298
30
122
86
295
29
121
85
279
97
113
79
289
30
116
88
293
29
120
88
299
29
119
Drug and proprietary stores
Eating and drinking places
Furniture homefurnishings stores
do
do
do
114
90
36
121
96
35
116
94
38
120
94
41
122
94
40
120
93
38
123
93
38
124
94
38
125
94
39
124
91
37
122
90
36
123
90
33
124
94
36
1,282
1,292
1,306
1,250
'1,308
1,250
1,280
1,304
1,295
1,277
^1,290
General merchandise group 9
do
770
772
745
800
736
807
800
760
795
779
7(58
Department stores, excl. mail-order
do
253
264
252
246
246
237
'256
259
'254
258
248
Variety stores
do
1.822
1,800
1,795
1.790
1,808
1.817
1,760
1,763
1,811
1,788
1,771
Grocery stores
do
70
70
71
70
70
69
67
70
67
64
69
Lumber building materials dealerscf
do
82
82
83
81
83
79
83
79
83
86
81
Tire, battery, accessory stores
~do -' Revised.
' Advance estimate.
}See corresponding note on p. S-9 (total for firms with 4 or more stores did not revise; revision? occurred in components).
separately.
cf Comprises lumber yards, building materials dealers, and paint, plumbing, and electrical stores.
1,303
793
248
1,808
68
S4
1,339
793
258
1,835
67
89
Estimated sales (seas adj ), total 9
1
1. 899
1,064
i 12 445
9 Includes data not shown
SURVEY OF CURRENT BUSINESS
May 1961
S-ll
1960
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
March
April
May
June
July
1961
Novem- DecemAugust SeptemOctober
ber
ber
ber
January
February
March
April
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
Department stores:
Accounts receivable, end of month :J
Charge accounts
1947-49—100
Installment accounts
do
Ratio of collections to accounts receivable:
Charge accounts
__ _ _ percent- _
Installment accounts
do _
Sales by type of payment:
Cash sales
percent of total sales. .
Charge account sales
- - -do _
Installment sales
- - - do _ _
162
415
171
422
184
431
244
479
210
480
173
462
165
449
48
16
44
15
44
15
48
15
45
14
47
15
46
15
47
15
48
15
48
15
45
14
45
14
49
16
42
43
15
43
43
14
43
42
15
43
42
15
44
41
15
43
42
15
42
43
15
41
43
16
42
43
15
44
42
14
43
40
17
42
42
16
42
43
15
138
137
122
132
145
153
171
261
108
109
' v 132
194
133
139
144
172
154
173
124
130
135
159
150
165
123
129
131
156
146
165
95
113
116
156
140
170
106
123
128
165
154
172
131
136
140
159
159
187
132
143
145
176
164
206
155
158
167
190
181
329
249
238
254
293
274
137
95
98
105
130
' 122
' 141
91
96
104
127
114
p Ml
v 116
P 116
p 130
v 155
P137
-
- --do
do-_ .
do
- --do _
__do
do__
105
108
113
r 115
110
r
127
139
137
153
165
150
153
127
127
134
143
144
145
133
130
134
139
134
147
109
101
108
129
119
142
132
109
114
135
134
154
144
138
141
154
142
152
152
147
149
169
152
156
154
167
178
182
166
177
238
245
250
283
248
282
96
103
97
105
107
119
104
105
' 102
' 110
102
' 126
P120
P12H
P 134
P142
P 126
P 138
138
154
141
145
149
143
144
150
149
147
142
145
162
122
125
' 140
' 163
142
192
134
145
144
181
164
176
125
132
139
159
150
183
129
134
139
170
154
194
125
141
143
175
159
178
194
134
139
169
151
185
126
132
140
166
154
189
129
140
144
172
164
179
129
129
136
163
157
187
128
137
142
171
159
177
126
130
140
165
164
' 181
126
128
135
r
170
156
P178
p 135
P 127
P144
p 168
P 158
do
-- _ d o _ do
do. _
-do
do
123
'128
134
'141
131
'158
147
144
151
168
159
159
133
131
136
144
143
153
137
135
144
149
144
153
136
135
142
156
144
159
132
137
136
149
140
155
134
136
139
153
138
155
138
140
145
162
149
160
137
131
136
150
139
152
138
135
136
153
142
159
133
129
131
146
145
154
142
136
142
' 155
134
p 133
p 140
P 144
P157
p 142
plGO
do
do
165
162
165
159
163
161
157
165
158
167
165
169
176
168
186
167
192
169
150
165
145
162
12.5
4.5
8.0
12.2
4.6
7.6
12.3
4 6
7.7
12.8
4.8
8.0
11.6
4 2
7.3
13.0
4 7
8.2
12.7
4.6
8.1
12.8
4 5
8.2
12.9
4 3
8.6
12.6
4 1
85
11.4
38
76
12.9
6.9
6.0
12.9
6.9
6.0
12.9
7.0
5.9
12.9
7.0
5.9
13.0
7.0
5.9
13.1
7.0
6. 1
13.2
6.9
6. 3
13.6
6.9
6 7
13.6
6.8
68
13 2
6.6
6 6
13 1
6.6
6 5
--
Siles seasonally adjusted total U 8 9
—
do
-
-
- -
-
-
151
406
150
-
AT inn ea polls
New York
Philadelphia
Richmond
St Louis
San Francisco
151
415
149
95
108
113
-142
119
_ -
-
164
424
' 116
-
-
Atlanta
Boston
Chicago
Cleveland
Dallas
Kansas City
168
426
--do. _
_ do0 _
-- *^ -- - --do
do
-- -__do
1947-49=100_-
-
Minneapolis
New York
Philadelphia
"Richmond
St Louis
San Francisco
170
431
-
Sales unadjusted total U.S
Atlanta
Boston
Chicago
Cleveland
Dallas
Kansas City
161
435
---
--
-
Stocks, total U.S., end of month:
Unadjusted
_
Seasonally adjusted?
--
-
do...
do _
do __
__do _ _ _
^° -__do _
r
r
r
164
r p 14()
161
*>165
P 163
'11 7
'r4 0
l7
13 3
4 3
90
13 1
6. 7
'6 4
13 4
6 8
6 6
r
153
p 137
P 150
WHOLESALE TRADE
Sales estimated (unadj ), total
Durable ^oods establishments
Nondurable goods establishments
bil. of dol
do
- do _
Inventories estimated (unadj ), total
_
Durable goods establishments
__ _
Nondurable goods establishments
_ do
do
do
r
EMPLOYMENT AND POPULATION
POPULATION
Population, United States (incl. Alaska and Hawaii):
Total, incl. armed forces overseas§
thousands.- 179, 787
180, 004
180, 217
180, 439
180, 670
180, 936
181, 232
181,519
181, 778
182, 018
182, 257
182, 489
182, 714
182, 952
124, 839 124, 917
EMPLOYMENT
Noninstitutional population, estimated number 14
years of age and over, totaled
thousands
Total labor force, including armed forces
do_
Civilian labor force, tota!0 _ _ _ __
_ do
Employed
do
Agricultural employment
do_ _
Nonagricultural employment
do
Unemployed _ _
_ _ ^ _ _ _ _ _ _ d o - _.
Percent of civilian labor force:©
Unadjusted
Seasonally adjusted
Not in labor force
thousands
Employees on payrolls (nonagricultural estab.) :
Total, unadj. (excl. Alaska and Hawaii) A— thousandsManufacturing
_ do
Durable goods industries. - _ ._ _ _ _ - d o _ Nondurable goods industries
do
Mining, total _
_
do.
Metal.
__
_ _ _ _ _
_
__do_ _
Anthracite
do
Bituminous coal _ _ _ _
_ _ _
do
Crude-petroleum and natural-gas production
thousands—
Nonmetallic mining and quarrying
do__ _
125, 033
125, 162
125 288
125 499
125 717
125 936
126 222
126 482
126 725
126 918
127 115
127 337
70, 993
72, 331
73, 171
75, 499
75 215
74 551
73 672
73 592
73 746
73 079
72 361
72 894
73 540
73 216
68, 473
64 267
69, 819
66, 159
5,393
60 765
3,660
70, 667
67 208
5,837
61 371
3,459
73, 002
68, 579
6, 856
61 722
4,423
72 706
68 689
6 885
61 805
4,017
72, 070
68 282
6,454
61 828
3,788
71 155
67 767
6 588
61 179
3,388
71 069
67 490
6 247
61 244
3,579
71 213
67 182
5 666
61 516
4,031
70
66
4
61
4
69
64
4
59
5
70
64
4
59
5
71
65
4
60
5
70
65
5
60
4
5.2
5.1
4.9
5 1
6. 1
5 4
5.5
5 5
5 5
5 3
5 8
4 8
5 7
5 0
6 3
5 7
6 2
6 4
6 8
7 7
6 6
81
6 8
7 7
6 9
7 0
6 8
53, 845
52, 587
51,862
49, 663
50, 074
50, 948
52 045
52 344
52 476
53 403
54 364
54 024
53 574
54 121
52, 172
16, 478
9,630
6,848
52, 844
16, 380
9,548
6,832
52, 957
16,348
9,516
6 832
53, 309
16, 422
9,504
6,918
52, 923
16, 250
9,342
6,908
53, 062
16 386
9,296
7 090
53, 496
16 505
9,403
7 102
53, 391
16 313
9,305
7 008
53, 133
16 129
9 235
6 894
53, 310
15 836
9 065
6 771
51,437
15 580
8 902
6 678
' 51, 397
r 15 492
r 8 802
r 5 590
P 51, 775
P 15 476
p 8 813
P 6 603
666
93
14
172
677
95
13
169
677
96
12
167
681
97
12
164
655
94
11
140
672
95
11
156
663
94
12
151
656
93
12
150
647
90
11
147
641
90
10
145
629
89
10
142
622
P ^93
285
103
287
113
286
116
292
117
292
118
292
118
4,565
59 702
4,206
6.1
549
009
950
059
540
837
452
634
818
385
360
655
708
947
705
'51,090
r 15 473
T 8 804
6 669
r 09Q
r 86
Oil
516
977
539
495
696
734
000
734
962
10
142
289
285
285
286
284
'282
117
114
117
109
101
104
r Revised, p Preliminary. I Revised beginning August 1959 to include data for Hawaii. 9 Revisions for January 1947-December 1959 for department store sales and stocks, total U S
seasonally adjusted, appear on p. 20 of the January 1961 SURVEY; revisions for the individual Federal Reserve districts will be shown later. § Effective with the January 1961 SURVEY estimates
are based on the 1960 Census; for comparable revised figures (August 1957-October 1959), see "Current Population Reports", P-25, No 223
'
cfData beginning January 1960 include figures for Alaska and Hawaii: see the December 1960 SURVEY for January 1960 estimates for those States.
© For 1947-59 figures, reflecting adjustments of 1947-56 data to new definitions adopted January 1957 and monthly rates of unemployment (unadjusted), see pp. 22 and 23 of the April 1960
SURVEY; revised seasonally adjusted rates of unemployment appear in the January 1961 issue of the "Monthly Report On The Labor Force" (U.S. Department of Labor)
A Total employment in U.S., including Alaska and Hawaii (thous.): 1961—February, 51,314; March, 51,621; April, 52,005.
SUEVEY OF CUREENT BUSINESS
S-12
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
March
BUSINESS STATISTICS
Mav 1901
1961
1960
April
May
June
July
DecemOctober NovemAugust September
ber
ber
January
February
March
April
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT— Continued
Employees on payrolls of nonagrlcultural est., unadjusted — Continued
Contract construction
thousands-Transportation and public utilities 9
do
Interstate railroads
_do_ ._
Local railways and buslines
do
Trucking and warehousing
do
Telephone
_
do
Gas and electric utilities
do
2,312
3,900
904
91
883
700
568
2,590
3,917
910
91
881
703
574
2,830
3,924
914
91
880
704
575
2,977
3,942
920
91
887
707
582
3,098
3,939
912
91
879
714
589
3,130
3,921
905
90
877
714
585
3,069
3,907
876
91
892
708
585
3,006
3,889
869
88
902
704
579
2,847
3,868
852
89
898
702
578
2,552
3,843
849
89
881
699
577
do
do
do
11,325
3,111
8 214
1,404
1,634
801
11,620
3,120
8, 500
1, 511
1, 649
815
11,543
3,111
8,432
1,466
1,649
819
11, 637
3,129
8,508
1,462
1,656
827
11,591
3,138
8,453
1,433
1,660
824
11,592
3,153
8.439
1, 452
1,641
820
11,665
3,153
8,512
1,504
1,641
815
11, 742
3,162
8,580
1,554
1,652
813
11, 842
3,163
8,679
1,655
1,659
814
12, 405
3,161
9,244
2,022
1,683
828
do
do
- do _ _
-do _.
do
do- --
2,444
6,511
459
305
169
8,536
2, 463
6, 644
479
308
177
8,553
2,469
6,717
497
312
179
8,449
2,496
6,745
524
315
181
8,409
2,530
6,715
592
316
176
8,145
2,536
6, 685
591
310
171
8,140
2,515
6,698
509
307
175
8,474
2,501
6,698
466
306
180
8,586
2,499
6,665
455
304
179
8,636
2,504
6,612
448
301
176
8,917
52, 823
16, 509
9,603
6,906
53, 128
16, 527
9, 552
6,975
53,105
16,540
9, 537
7,003
53, 140
16, 498
9,499
6,999
53, 145
16,417
9,452
6,965
53, 046
16, 265
9,338
6,927
52, 998
16, 275
9,391
6,884
52, 809
16, 132
9,266
6,866
52, 591
16, 030
9,190
6,840
52, 221
15, 790
9,030
6,760
52, 232 '51,984
15, 676 ' 15, 527
8,918 ' 8, 792
6,758 ' 6, 735
666
2,601
3,920
11, 595
2, 456
6,577
8,499
684
2,752
3,924
11, 652
2,463
6,611
8,515
684
2,783
3,927
11,675
2,469
6,618
8,409
678
2,790
3,926
11,712
2,471
6,645
8.420
658
2,858
3,910
11,736
2,480
6,682
8,404
665
2, 835
3,892
11, 764
2,499
6, 652
8,474
660
2,800
3,879
11, 665
2,515
6, 665
8,539
656
2,804
3,879
11,668
2,514
6,632
8,524
644
2,783
3,858
11, 568
2, 512
6,665
8,531
638
2,647
3,821
11,541
2,517
6,679
8,588
629
2,698
3,820
11, 634
2,515
6,651
8,609
12, 334
7,123
74
12,292
7,084
73
12, 332
7, 056
72
12, 145
6,888
72
12, 265
6, 833
72
12, 399
6,949
74
12, 226
6,863
72
12,037
6,786
74
11, 745
6,613
74
11, 502 '11,395 ' 11, 423 pi 1,413
6, 456 ' 6, 359 ' 6, 363 p 6. 382
73
'75
73
p 74
569
282
327
448
1,020
592
289
324
452
993
617
296
327
456
970
606
291
321
450
924
607
293
327
452
916
598
285
328
449
905
581
276
327
442
891
547
264
320
431
870
518
252
310
416
851
508
247
303
401
838
511
495
469
439
431
418
409
395
381
377
837
1,176
860
1,187
623
398
113
230
395
836
1,159
855
1,174
616
388
115
228
397
840
1,154
859
1,127
615
348
111
228
405
817
1,130
850
1,105
574
358
119
223
389
819
1,112
861
1,036
509
365
118
226
410
835
1,104
877
1,135
597
367
119
225
418
834
1,087
839
1,149
614
366
119
223
418
817
1,085
867
1,147
610
372
117
222
406
794
1,081
844
1,125
596
369
116
218
383
771
1,075
842
1,068
542
367
117
215
364
Wholesale and retail trade
Wholesale trade
do
do
General merchandise stores
Food and liquor stores
Automotive and accessories dealers
Finance, insurance, and real estate _
Service and miscellaneous 9
Hotels and lodging places
Laundries
__
Cleaning and dyeing plants
Government
-- -
Total, seas. adj. (excl. Alaska and Hawaii) A--do
Manufacturing
do
Durable goods industries
__
_ . do
Nondurable goods industries
do
Mining
Contract construction
Transportation and public utilities
Wholesale and retail trade
-.
Finance, insurance, and real estate
Service and miscellaneous
Government
_ _
do
do
do_ __
do
do _
do
do
Production workers on manufacturing payrolls, unadj.:
12,435
Total
thousands
7,205
Durable goods industries
do
75
Ordnance and accessories
do
Lumber and wood products (except furniture)
556
thousands. _
275
Sawmills and planing mills
do
327
Furniture and fixtures
do
443
Stone, clay, and glass products
do
1,043
Primary metal industries
do
Blast furnaces, steel works, and rolling mills
526
thousands- .
Fabricated metal productscT
_. _ .
Machinery (except electrical)
Electrical machinery
Transportation equipment 9
M^otor vehicles and equipment
Aircraft and parts
Ship and boat building and repairs
Instruments and related products
Miscellaneous mfg. industries
do
do
do
do _
do
do
do
do
do
854
1,186
879
1,221
652
407
110
230
392
2, 385
3,763
818
89
854
696
574
' 2, 264 ' 2, 427 r> 2, 644
' 3, 759 ' 3, 746 p 3, 746
••817
89
"851
'695
••573
11, 464 ' 11, 279 ' 11, 337 pll, 364
3,116 r 3, 102 ' 3, 094 * 3, 088
8,348
8,177
' 8, 243 p 8, 276
1,476 ' 1, 392
1,641 '1,641
794
'787
2,490
6,518
437
300
175
8,608
'2,494 ' 2, 506 "2,524
' 6, 527 ' 6, 562 p 6, 672
'441
297
173
' 8, 674 ' 8, 705 p 8, 726
' 51, 941 p 52, 176
' 15, 536 p 15, 617
' 8, 779 p 8, 817
' 6, 757 p 6, 800
622
'620
'2,636 ' 2, 730
'3,803 ' 3, 765
' 11, 576 ' 11, 479
' 2, 519 ' 2, 519
' 6, 660 ' 6, 628
' 8, 643 ' 8, 662
'496
'243
303
396
'829
"629
p 2, 810
p 3, 753
P! 1,521
p 2, 524
p 6, 639
"8,683
'499
"510
'302
'402
'830
"303
p410
"835
'754
'748
' 1, 077 ' 1, 077
'835
'831
' 1, 012 ' 1, 013
'492
366
'116
'211
'211
'373
'376
"757
"1,084
"825
"994
381
"210
"381
5,132
5,211
5,450
5,432
5,251
5,230
5,208
5, 257
5,363
5,27b
5,046
5,036 ' 5, 060 p 5, 031
Nondurable goods industries
do
984
1,171
960
934
1,112
967
1,015
1, 064
1,036
1,142
943
925
'933
"945
Food and kindred products?
do
232
242
248
234
246
242
243
249
236
248
237
230
M^eat products
do
152
325
157
134
254
151
219
173
188
141
297
'140
Canning and preserving
do
164
162
162
164
165
163
158
158
161
161
165
163
Bakery products
do
69
97
94
82
78
68
69
81
75
72
71
68
68
"63
Tobacco manufactures
do
850
819
861
859
840
832
863
863
867
848
807
806
'808
"812
Textile mill products 9 __
do. .
356
348
367
360
351
368
349
345
365
365
360
'343
Broadwoven fabric mills
do
203
188
197
206
195
205
201
201
198
183
186
197
Knitting mills
do
1,094
1,052
1,082
1,118
1,079
1,085
1,079
1,079
1,060
1,107
1,038 '1,063 ' 1, 071 p 1, 032
Apparel and other finished textile prod do
452
437
448
449
445
434
'432
446
449
452
444
451
'432
"435
Paper and allied products..
do
225
219
222
221
222
223
226
226
217
216
223
222
Pulp paper and paperboard mills
do
579
578
568
585
584
571
568
572
573
'568
'572
567
568
"572
Printing, publishing, and allied industries. _do
537
551
538
531
533
540
547
537
538
528
'525
'534
540
"540
Chemicals and allied products
do
209
207
206
205
209
210
206
204
211
211
'203
210
Industrial organic chemicals
do
150
145
'142
154
154
150
147
144
156
154
155
153
143
"143
Products of petroleum and coal
do
115
113
116
114
'112
118
113
112
116
117
117
117
Petroleum refining
do
198
191
196
198
193
181
201
198
188
208
192
' 181
198
" 181
Rubber products
do_
321
318
317
'322
317
328
323
319
318
318
315
322
331
"307
Leather and leather products.
do
Production workers on mfg. payrolls, seas, adj.:
12, 176
12,048
12, 472
11,937
11,701
12,407
11, 594 ' 11, 444 ' 11, 461 " 11, 544
12, 476
12, 321 12, 158
12, 462
Total
thousands
6,937
6,579
6,824
6,740
6,471 ' 6, 348 6,339 " 6, 385
7,126
7,179
6,875
7,106
7,051
7,000
Durable goods industries
do
5,122
5,239
5,224
5,197
5,123 '5,096 ' 5, 122 " 5, 159
5,346
5,356
5,283
5,283
5,321
5,370
Nondurable goods industries
do
Production workers on manufacturing payrolls :
Indexes of employment:
92.1
100.2
95.0
98.8
97.3
92.4
99.2
93.0
99.7
98.2
"92.3
100.5
99.4
99.7
Unadjusted
1947-49=100..
98.4
97.4
94.6
96.5
'92.5
98.3
93.7
'92.7
100.8
99.6
100.9
100.3
"93.3
100.8
Seasonally adjusteddo
Miscellaneous employment data:
Federal civilian employees (executive branch):
3
2
United States^
thousands » 32,339. 7 » 2, 342. 9 2,2 220. 2 2,8 212. 9 2,213. 3 2,213.9 2, 192. 9 2, 188. 9 2, 188. 9 12,478.2 2, 180. 4 ' 2, 185. 7 2, 193. 2
215.1
213.6
214.0
214.6 i 222. 1
214.7
216.1
218. 1
218.5
217.9
212. 2 > 212. 2
211. 9
Washington D C metropolitan area
do
Railroad employees (class I railroads):
782
764
759
" 730
817
787
731
"726
824
834
824
"728
828
816
Total ._
thousands-Indexes:
56.9
57.6
"54.9
" 54.7
59.4
58.9
55.1
61.8
62.0
61.5
"54.9
62.2
62.7
61.2
Unadjusted
1947-49=10058.9
58.2
54.6
"55.0
"55.2
60.4
59.3
62.6
60.1
'"55.6
60.7
61.4
61.3
61.7
Seasonally adjusted
do
r
Revised. " Preliminary. * Includes Post Office employees hired for Ghirstmas season; there were about 292,800 such employees in the United States in December 1960. 2 Includes
the following number of persons hired for the decennial census: Total U.S. 180,000( March); 181,100 (April); 53,700 (May); 15,600 (June); Wash., D.C. area, 680 (March); 910 (April); 340 (May);
240 (June). 9 Includes data for industries not shown, c? Except ordnance, machinery, and transportation equipment.
A Total employees, incl. Alaska and Hawaii (thous.): 1961—February, 52,213; March, 52,168; April, 52,408.
.
,-.„..
.......
1959 and August 1959, respectively. For all branches of the Federal Government, civilian employees in Alaska (at the end of January 1959) totaled 13,200 persons and in Hawaii (at the end
of August 1959), 21,900 persons.
SURVEY OF CURRENT BUSINESS
Mav 1961
S-13
1961
1960
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
March
April
May
June
July
August SeptemOctober Novem- December
ber
ber
January
February
March
April
EMPLOYMENT AND POPULATION—Continued
INDEXES OF WEEKLY PAYROLLS
r
r
176.1
172.6
106 5
207.9
168.8
108.7
230. 5
171.5
107 8
246.9
172.5
108.4
262.8
169.0
103.3
267.9
169.2
104.5
259.4
172. 5
101.6
258.4
170.5
101.6
227 1
166.2
97 0
197. 1
160.6
97.0
193.9
158.5
97.7
39 7
2 5
40.3
2 5
41.5
39.3
39.9
40 0
39.8
39.8
39.6
39 7
38.9
38 9
40.4
40.4
39.9
40.0
39.9
2.5
39.1
39.2
39.3
40.8
41.3
40.8
40.0
2.3
40.2
40.0
40.5
40.4
39 3
2 2
39.6
2 0
40.8
38 6
39.9
40.2
40.7
r
38.8
39 0
39 1
39.9
40 1
39.9
40.6
39.9
40.3
39.4
40.1
40 9
40. i
40.9
38 9
40.5
41.0
40.2
41.0
38.9
39.3
39.9
40.0
40.8
38.7
39.6
40.2
40.8
41.0
38.1
39.9
40.2
40.5
40.5
38.0
39.6
39 8
40.4
40.9
37 9
38.4
38 9
39 6
40.7
37 4
38.6
38 9
39.9
39.6
37 2
38.8
38.6
38.3
39.8
37.7
T
r
38. 5
38 5
38.7
r
39.8
37.8
39.9
40 5
41.2
40 1
39.3
39.9
40.8
39.2
38.1
40.8
41.3
39 9
37.7
40.9
41.2
40.1
37.2
40.5
40.9
39.3
36.6
41.0
40.5
39 9
36.5
40.7
40.3
40.1
36. 3
40.5
40.5
40 3
35.5
39 9
40.1
40 0
35.5
39.1
39.9
39.1
36.5
39.3
40.2
39 9
36.7
39 2
40.2
39 9
do
do
do _ _ _
do
do
do__ _
40 6
40 8
40.8
39.4
40.8
40.3
39.7
39.5
40.1
39.5
40.1
39.2
40.9
41.1
41.0
40.1
40.5
39.9
40.5
40.6
40.8
39.7
40.7
39.9
40.2
40.0
41.1
39.3
40.4
39.4
39 6
38.8
40.9
39.5
40 5
40.0
40.2
40.6
40.6
37.4
40.1
39.5
41 1
41.6
41.0
39.4
40.5
40.1
40 2
40 2
41.1
38.4
40 6
40.0
39 8
39.5
41.1
37.9
39.2
38.4
38 9
37.3
41. 5
39.1
40 2
39.4
39 3
37.7
41.6
r
39. 2
r
40.
1
r
39.6
do
do
--do
do
do ._
do
38 8
2 4
39.7
39.1
37.5
39.9
38.6
39 3
39.5
39 6
39. 1
40.6
40.8
38.7
40.3
40.6
40.7
37.7
40.8
41.1
41.2
39.5
40.9
41.6
41.5
42.2
40.3
39 0
2 5
41.0
41.1
40.0
40.5
38 8
23
40.5
41.2
36 4
40.5
38 0
39.8
39.4
37.7
39.9
39 5
2 5
41.2
41.2
40.9
40.4
40.2
40.8
36.8
39.7
38 4
2 0
40.2
40.3
37 4
39.6
do
do
do
do
34 8
39 4
40.7
36.5
36.0
39.6
40.6
37.3
38 1
40.1
41.0
38.3
39.3
40.2
41.1
38.6
37 6
39.7
40.6
38.4
37 9
39.7
40.3
38.6
40.3
38.3
38.7
37.6
40 5
38.8
39.3
37.9
37 7
39 0
39 4
37.5
39 3
38.2
39.1
35.9
37 8
38 0
38 7
35. 9
r
Apparel and other finished textile prod
do
Paper and allied products
do
Pulp, paper, and paperboard mills
do
Printing, publishing, and allied industries __do
35.8
42.1
43.4
38.2
35.1
41.8
43.1
37.8
36.3
42.5
43.6
38.4
36.3
42.6
43.7
38.1
36.4
42.5
43.8
38.2
36.7
42.5
43.6
38.3
35.4
42.3
43.4
38.6
35.5
42.3
43.4
38.4
35.3
41 9
42.9
38.2
33.4
41.1
42.7
37.7
34.4
41 5
42 8
37.8
Chemicals and allied products
Industrial organic chemicals
Products of petroleum and coal
Petroleum refining- __
Rubber products
Leather and leather products—
41.3
41.3
40.3
40.2
39 4
37.1
42.1
41.9
40.8
41.0
38.3
35.4
41.6
41.8
40.7
40.9
39.7
36.3
41.9
42.2
41.1
40.8
40.6
37.8
41.6
41.9
41.5
41.2
40 6
38.4
41.3
41.2
40 7
40.3
39 9
38.1
41.3
41.1
41.3
41.1
39.0
35.9
41.2
40.8
40 7
40.6
39 8
35.9
41 4
41.2
40 4
40 7
39 2
36.4
40.9
40.9
40. 5
40.7
38 9
35.9
41 1
40.8
41 2
41 5
38 9
37.9
40 9
40. 8
r 40 o
40.8
42.0
36.2
38.8
41.1
42.7
29.2
37.4
41.0
42.7
29.6
36.4
41.2
41.3
33.9
37.1
41.5
41.4
34.0
37.3
40.7
41 6
34.4
35.0
40.1
41.6
30.8
33.2
40.3
40 6
34.5
34.1
39.3
40 2
34 6
32.1
39.4
41 1
34.8
33.6
40
40
38
34
39
r 40
37
T 33
40.4
41.1
40.7
43.8
41.0
43.9
40.4
45.2
40.9
45.0
40.3
44.9
41.0
44.2
40.8
44.4
40.7
42.5
40.3
41.2
42 0
42.0
r
35.0
39.1
34.2
36.9
41.1
35.9
36.9
40.7
35.9
37.4
41.6
36.3
37.8
42.2
36.7
37.9
42.3
36.7
37.2
42.0
36.0
37 8
42.6
36.6
35 3
38.6
34.5
34 1
37.3
33.4
36 2
3Q 4
35 6
36 0
r 39 2
r
35 4
42.7
39.1
40.7
42.7
38.9
40.8
43.2
39.2
40.8
43.5
39.4
40.8
43.2
39.8
40.9
43.2
39.5
40.8
42.9
40.8
41.8
42.6
40.0
41.2
42.8
40 4
41 2
43.3
39 5
41 3
42.1
39 0
40 9
r 39 I
r 4Q 9
Construction (construction workers)
Manufacturing (production workers)
Mining (production workers)
_
1947-49=100.
do
do
181. 7
157. 1
94. 5
r
r
192 6
158. 2
91 6
p 159. 2
HOURS AND EARNINGS
Average weekly gross hours per worker on payrolls of
nonagricultural establishments:
All manufacturing industries
_
hours
Average overtime
__
do
Durable goods industries
do
Average overtime
do
Ordnance a n d accessories. _ _ _ _ _
do
Lumber and wood products (except furniture)
hours __
Sawmills and planing mills
do
Furniture and fixtures
do
Stone, clay, and glass products
..do __
Primary metal industries
do
Blast furnaces, steel works, and rolling mills
hours. _
Fabricated metal productscf
do
Machinery (except electrical)
do
Electrical machinery
do
Transportation equipment 9 - --Motor vehicles and equipment. _ _
Aircraft and parts
Ship and boat building and repairs
Instruments and related products
Miscellaneous mfg. industries
Nondurable goods industries
Average overtime
Food and kindred products 9
Meat products
Canning and preserving
Bakery products
Tobacco manufactures ._
Textile mill products 9
Broadwoven fabric mills
Knitting mills
_
do __
do
do
do __
do
do
Nonmanufacturing industries:
Mining
do
Metal
do
Anthracite
__ do
Bituminous coal___
do
Petroleum and natural-gas production (except
contract services)..
hours
Nonmetallic mining and quarrying
do
Contract construction
do
Nonbuilding construction
do
Building construction..
do
Transportation and public utilities:
Local railways and bus lines
do
Telephone... _ _
_ _ _
___ _ do _
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, year-round
do
Laundries
_..do
Cleaning and dyeing plants
do
2.1
2.1
2.2
2.4
2.4
2.5
2.5
2.4
2.5
2.4
2.3
2.6
2.4
2.5
2.6
2.5
2.4
2.0
1.9
•
2.2
1.9
1.9
1.7
1.7
*39.0
39 6
'40.1
T 39 8
p 39 9
p 40. 3
P 39 8
r 39 $
p 39 8
T 40 3
r
39 5
p 40 4
p 39 6
38 4
21
39.9
39.4
r
37 8
40.1
r 38 7
2i
••39.9
P 38 5
p2 2
P39.8
37 2
38 5
38 8
37.1
r 3(5 7
r 38 9
p 38 0
P 38 7
' 35. 7
41 8
p 35. 4
P 41 9
37.9
P37. 7
41 2
P 41 o
r 40 4
P 41 0
r
P 39 A
"35.4
9
40 1
r
r
'35. 1
41 7
42 9
'37.7
r
r
r
r
r 40 5
T 38 Q
37.4
38 1
'•37.0
6
5
0
9
40 3
Ml. 6
"42.7
40.1
40.2
40.3
40.6
40.5
40.4
40.3
40.2
40.0
40 2
39 9
37.4
33.8
35.3
43.8
37.7
34.5
35.6
44.1
37.4
33.7
35.3
43.9
37.8
34.3
35.9
44.1
38.2
35.0
36.4
44.1
38.3
34.9
36.2
44.1
37.6
34.0
35.6
43.9
37.4
33.7
35.3
43.7
37.5
33.7
35 6
43.8
37.7
35.4
35 1
43.8
37.5
33 8
35 1
43 7
37.5
33 §
35 0
43 7
40.0
38.9
37.9
39.6
40.0
40.8
39.9
39.9
39.4
40.0
39.9
39.9
40.0
39.8
38.6
40.2
39.4
37.6
39.7
39.4
38.5
39.9
39.7
39.3
39.7
39.2
38.7
39.7
38.6
37.2
39.7
38.9
38.4
90. 91
98.74
108. 73
89.60
97. 36
106. 49
91.37
98 58
107. 79
91.60
98 98
107. 30
91.14
97 76
105 20
90.35
97 20
105 60
91.08
98 15
108 14
91.31
98 89
108 27
90.39
97 42
109 34
89. 55
96 97
108 14
90.25
97 22
109 48
77.60
75.27
72.73
90.57
80.20
77.95
73.82
91.08
81.40
78.94
74 19
92.84
83.84
81.18
74 77
93.07
81.35
79.00
74 40
93.02
81.97
80.00
75 gg
93.89
84.19
80.00
75 74
92.75
81.58
77. 61
75 5 ^
94.07
77.18
74.30
74 05
94.02
77. 59
74.30
75 01
91.48
77.60
74.11
71 24
91.54
Primary metal industries.
___do
114. 29
112. 29
Blast furnaces, steel works, and rolling mills
122. 22
dollars. _ 122. 89
' Revised.
*> Preliminary.
9 Includes data for industries not shown separately.
cfExcept ordnance, machinery, and transportation equipment
109. 70
109. 70
108. 75
106. 68
106. 78
106. 12
104. 72
105. 28
107. 82
* 107. 73
116.21
115.74
113. 83
110. 53
110.60
109. 63
106. 86
109. 34
114. 25
113. 77
38.8
r
38
r
?
0
7
8
3
p 3Q 1
P 40 3
P 38 4
r
0
7
4
2
p39
p2
p39
p1
p 40
r 38 0
39.9
Average weekly gross earnings per worker on payrolls
of nonagricultural establishments:
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
T
40. 7
39 1
19
39 5
17
40 6
T
r
r
39. 6
38.8
37.7
r
90. 25
90.71 P 91. 34
97 07
97 57 P QQ A(\
T 109 48 r jo9 62 •p inn 91
'r• 76. 23
73. 54
n
r
' 77. 21 v 78. 39
QO
T ^O '-*£
91. 54
r 92. ()3
r
f 93. 50
108. 68 p 110. 21
May 1901
SURVEY OF CURRENT BUSINESS
S-14
1960
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
March
April
May
June
July
1961
SeptemDecemOctober NovemAugust
ber
ber
ber
January
February
March
April
EMPLOYMENT AND POPULATION—Continued
!
HOURS AND EARNINGS— Continued
Average weekly gross earnings per worker on payrolls
of nonagricultural establishments — Continued
All manufacturing industries— Continued
Durable goods industries — Continued
Fabricated metal products^
dollars
Machinery (except electrical)
_ _
_ do
Electrical machinery
do
Transportation equipment 9
do
M^otor vehicles and equipment
do
Aircraft and parts
do
Ship and boat building and repairs
do
Instruments and related products
- do
Miscellaneous mfg. industries
..
_ do_
96.82 r 97. 81 r 98. 95
104. 92 r 105. Of. P 105. 59
' 93. 77 r ' 93. 53 P 93. 93
r
109. 25 109. 69 * 110. 64
105. 56
114.82
r
108. 98
* 96. 64 rr 97. 53 P 97. 77
' 78. SO 78. 61 v 78. 80
98.42
105. 47
91. 43
110 84
113.83
109. 34
103 62
95.88
78.18
96. 56
104. 04
88. 98
107. 59
108. 23
107. 07
103. 49
93.43
76. 05
99.96
106. 1 4
91.37
111.66
113.85
110.29
105.46
94.77
77.41
100.21
105.88
92 23
110.97
112.87
110.57
105.60
95. 65
77.41
99. 63
105. 11
90. 39
110.15
111.20
110.97
106.90
95. 75
76.44
100. 45
103.68
91.77
108. 90
108. 64
110. 84
108. 23
95. 99
77.60
100. 94
103. 57
93. 03
112. 90
116.52
111.24
103. 97
95. 44
77.03
100. 04
104. 49
93.09
115.49
119.39
111.93
109. 53
95. 99
78.20
98.15
103. 46
93.20
112.16
113.77
112. 61
105. 98
96. 63
78.40
96. 58
103. 74
92.28
111.44
111.79
113.44
106. 12
94.47
76.03
97.07
104. 92
93.77
108. 14
104. 81
114. 13
108. 31
96.88
78.41
79.93
86.94
95.01
69. 75
85.39
79. 52
87. 10
95.74
69. 75
85.79
81.35
88. 91
99. 55
70.05
87.05
82. 16
88. 51
98. 90
67. 86
88. 54
82.37
89. 60
100. 94
70.71
89.16
81.77
88.58
99.70
74. 03
88.48
81.72
89.02
102. 51
74. 69
89.06
81.51
88.97
101.11
72.00
89. 51
81.48
89.10
102. 18
64. 79
89.91
80.18
89.24
101. 59
67.71
88.53
81.41
90. 45
101.56
68.82
88.31
81.02
89.78
rr 99. 29
69. 93
90.23
r
82. 04
'90. 17
P82.01
P 89. 95
Tobacco manufactures
_do_-_
Textile mill products 9
do
Broadwoven fabric mills
do
Knitting mills
do-__.
Apparel and other finished textile prod
do
Paper and allied products
_ doPulp paper and paperbonrd mills
do
Printing, publishing, and allied industries _ do
59. 86
63. 83
65. 12
55.48
55 85
94. 30
103. 29
105. 05
64. 80
63. 76
64. 96
55. 95
53. 70
93. 63
102. 15
103. 95
68. 58
65. 36
66.01
58.22
55.90
96.05
104.64
106. 37
71. 53
65. 53
66. 58
58. 67
55. 90
97.13
106. 19
105. 54
68.43
64.31
65.37
57. 60
56.42
97.33
106. 87
106. 20
64.81
64.31
64.88
58. 29
57. 62
97.75
106. 82
106. 09
63. 27
62. 05
61.92
57. 15
55. 93
98.14
107. 20
108. 08
65. 21
63. 24
62. 88
57.99
56. 45
97.71
106. 76
107. 14
65. 60
63. 18
62. 65
57. 38
55. 77
96. 37
105. 53
106. 96
69. 95
61. 88
62.17
54. 57
52. 44
95. 35
105. 47
106.31
66. 53
61.56
61.53
54. 57
54.70
96. 28
105. 29
106. 22
66. 59
62. 76
'61.69
56. 76
r
55. 81
r
96. 74
r
105.
53
r
105. 94
* 66. 43
r
63. 41
p 70. 68
p 63. 47
106. 88
p 106. 31
Chemicals and allied products
Industrial organic chemicals
Products of petroleum and coal
Petroleum refining
Rubber products
Leather and leather products
102.01
108. 62
116.87
120. 20
97. 71
60.84
104. 41
112. 29
119. 54
124. 23
94. 60
58.06
103. 58
110.77
118. C3
123.11
100.04
59.90
105.59
112.67
119.60
123.22
102. 72
62.37
106. 08
113.13
121. 18
124. 84
103. 53
62.98
104. 90
110. 42
117.62
120. 90
100.15
62.48
104. 90
110.97
120. 60
124. 53
98.28
59.24
104. 24
110.16
117. 62
121. 80
101. 49
59. 59
105. 16
111.65
117.97
122.91
99. 57
60. 42
104. 30
111.25
119.07
123. 32
99. 58
59.24
104. 81 r 104. 30
110. 98
110.98
124. 42 ' 120. 80
129. 90 r r126. 36
98.81 r 97. 27
62. 46
62.91
104. 65
p 105. 06
121.60
p 125. 05
110. 98
111.30
99.91
127. 26
111.38
113. 58
80.88
122. 30
110.70
114.01
82. 2C
119.03
110.83
110. 27
93.23
121.69
111.22
111.37
93.50
121. 60
108. 67
111.49
94.26
114. 10
107. 47
112. 74
84.39
108. 23
108. 41
110. 43
95.22
111.51
105. 32
108. 54
94.46
104. 33
106. 38
111.79
95. 35
109. 54
109. 60
110.30
107. 90
112.52
113.52
92.89
115.50
116.91
115.60
115. 18
98.55
119. 19
117. 96
119. 19
116.03
98.78
119.56
118.03
119.91
113. 52
101.70
121.18
121.06
121. 24
116.16
102. 60
123. 61
124. 91
123. 68
112.44
102. 37
124. 31
126. 90
123. 68
116. 44
101. 66
123. 13
126. 42
122. 40
115.87
102. 12
125. 50
128. 65
125. 17
115.18
98.18
117.20
114.64
117.99
114.05
95. 17
115. 26
113.39
115.56
124. 74 '118.48
r
95. 68
97.02
122.40
122. 72
120.17 'r 118. 78
123. 19
123. 53
do
do
do
97.78
87 58
108. 26
97.78
86. 36
108. 94
99.79
87.81
109.34
100. 92
88. 26
109. 34
100. 22
89.95
110. 02
100. 22
89.27
110. 16
99.96
95. 47
115.37
98.83
92.00
112. 89
99.72
92.92
113. 30
102. 62
91.64
114.40
100. 20 '101.63
90.48 ' 90. 71
112. 88 r 113. 29
do
drinking
dollars
do
do
91.37
91.83
92.46
93.09
94.19
93.56
94.13
93.90
93.67
93.20
94.07
' 93. 37
66. 95
48.33
69.89
88.91
67.48
48.99
70.13
91.73
67.69
48.87
70.60
90.87
68. 80
49.74
72.16
91.29
69. 52
50.75
73.16
91.29
69.32
50.26
72.76
89.96
68. 43
49.30
72.27
88.24
68.44
48.87
72.01
89.59
68.25
48.53
73.69
89.79
67.11
49. 56
71.25
88.48
69.00
49.69
72.31
88.71
69.00
49. 35
72. 10
' 87. 40
69.56
69.94
69.75
69.75
70.31
69.75
69.75
70.69
70.31
70.69
71.81
r 71. 42
48.00
46.68
52.68
47.52
48.00
57.94
48.28
48.68
55.95
48.80
48.68
57.06
48.80
48.56
54.43
49.04
48.07
53.02
48.83
48.46
54.67
49.48
48.83
56.20
49.23
48.22
54.57
49.63
47.48
52. 82
48.83
47.85
54.53
r 49. 10
2.29
2.22
2.45
2.38
2.62
2.28
2.22
2.44
2.38
2.61
2.29
2.22
2.44
2.37
2.61
2.29
2.22
2.45
2.38
2.63
2.29
2.22
2.45
2.38
2.63
2.27
2.21
2.43
2.37
2.64
2.30
2.23
2.46
2.39
2.67
2.30
2.23
2.46
2.39
2.68
2.30
2.24
2.46
2.39
2.68
2.32
2.26
2.48
2.42
2.69
2.32
2.27
2.48
2.42
2.69
'2.32
2.26
2.47
2.42
'2.69
2.32
2.26
2.47
2.42
'2.70
2.00
1.93
1.86
2.27
2.85
2.01
1.92
1.85
2.26
2.85
2.03
1.93
1.85
2.27
2.82
2.07
1.98
1.86
2.27
2.82
2.07
1.98
1.86
2.28
2.81
2.07
1.99
1.86
2.29
2.80
2.11
1.99
1.87
2.29
2.81
2.06
1.95
1.87
2.30
2.80
2.01
1.91
1.87
2.31
2.80
2.01
1.91
1.88
2.31
2.83
2.00
1.92
1.86
2.30
2.86
1.98
1.91
1.86
2.30
2.85
'1.99
P2.01
'1.86
2.31
2.86
pl.87
P2.32
P2.87
3.08
2.43
2.56
2.28
3.11
2.42
2.55
2.27
3.05
2.45
2.57
2.29
3.07
2.45
2.57
2.30
3.06
2.46
2.57
2.30
3.02
2.45
2.56
2.30
3.03
2.48
2.57
2.32
3.02
2.47
2.58
2.31
3.01
2.46
2.58
2.33
3.08
2.47
2.60
2.36
3.13
2.47
2.61
2.35
3.10
2.47
2.61
2.35
'2.47
'2.62
2.35
P2. 48
P2.62
P2.36
2.73
2.79
2.68
2.63
2.35
1.94
2.71
2.74
2.67
2.62
2.33
1.94
2.73
2.77
2.69
2.63
2.34
1.94
2.74
2.78
2.71
2.66
2.35
1.94
2.74
2.78
2.70
2.72
2.37
1.94
2.75
2.80
2.71
2.74
2.37
1.94
2.81
2.87
2.74
2.78
2.38
1.95
2.81
2.87
2.73
2.78
2.37
1.95
2.79
2.83
2.74
2.76
2. 38
1.96
2.80
2.83
2.76
2.80
2.41
1.98
2.78
2.81
2.75
2.77
2.41
1.99
2.78
2.80
2.76
2.78
2.41
1.99
2.77
P2.78
'2.42
1.99
p2. 42
pl.99
2.07
2.01
2.15
2.42
1.81
2.19
2.09
2.02
2.14
2.47
1.77
2.21
2.09
2.03
2.17
2.46
1.80
2.21
2.10
2.04
2.20
2.48
1.78
2.22
2.11
2.06
2.22
2.49
1.84
2.23
2.12
2.07
2.25
2.52
1.84
2.23
2.11
2.06
2.25
'2. 52
'1.85
2.25
2.12
2.06
'2.26
i>2.13
Nondurable goods industries
Food and kindred products 9
M"eat products
Canning and preserving
Bakery products
do _
do
do
do
do
_ do
do
do
do
do
do
Nonmanufacturing industries:
Mining
do
Metal
do
Anthracite
do
Bituminous coal
do
Petroleum and natural-gas production (except
contract services)
dollars
Nonmetallic mining and quarrying
do
Contract construction
do
Non building construction
do
Building construction
do
Transportation and public utilities:
Local railways and bus lines
Telephone
Oas and electric utilities
Wholesale and retail trade*.
Wholesale trade
Retail trade (except eating and
places) 9
General merchandise stores
Food and liquor stores
Finance, insurance, and real estate:
Service and miscellaneous:
TTotels year-round
Laundries
Cleaning and dyeing plants
_
do
do
-do
Average hourly gross earnings per worker on payrolls
of nonagricultural establishments:
All manufacturing industries
dollars
Excluding overtimed
do
Durable goods industries
do
Excluding overtime§
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
-do
Blast furnaces, steel works, and rolling mills
dollars
Fabricated metal productsd"
-do
Machinery (except electrical)
- do -Electrical machinery
-- do
Transportation equipment 9
Motor vehicles and equipment
Aircraft and parts
do
do
do
Instruments and related products
Miscellaneous mfg. industries
do —
do---
2.08
2.06
2.06
2.08
2.07
N endurable goods industries
- do_2.02
2.00
2.01
2.01
2.01
Excluding overtime §
do
2.18
2.19
2.19
2.18
2.19
Food and kindred products 9
do
2.43
2.45
2.43
2.43
2.44
M^eat products
do
1.80
1.79
1.86
1.85
1.81
Canning and preserving
do
2.17
2.14
2.15
2.18
2.16
Bakery products
do
r
Revised.
* Preliminary.
^Except ordnance, machinery, and transportation equipment.
9 Includes data for industries not shown separately.
{Revised series (first shown in September 1959 SURVEY); data beginning January 1958 are calculated on
December 1957.
§Derived by assuming that overtime hours are paid at the rate of time and one-half.
r
56. 76
p 55. 93
' 96. 98 p 97. 63
r
-•97.15
'61.79
p 99. 06
P 59. 83
107. 71
>• 109. 35
106. 19
r
110. 85
r
'r 47. 72
53. 53
P2.33
P2.48
"2.71
P2.26
a different basis and are not strictly comparable with published figures through
SUEVEY OF CUEEENT BUSINESS
May 1961
S-15
1960
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
March
April
May
June
1961
DecemAugust SeptemOctober November
ber
ber
July
January
February
March
April
EMPLOYMENT AND POPULATION—Continued
HOURS AND EARNINGS— Continued
Average hourly gross earnings per worker on payrolls
of nonagri cultural establishments— Continued
All manufacturing industries— Continued
Nondurable goods industries— Continued
Tobacco manufactures
dollars- Textile mill products?
do
Knitting mills
-~
do.- Apparel and other finished textile prod
do
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
Products of petroleum and coal
- do
Petroleum refining
_ __ - __ do -Rubber products
- do
Leather and leather products
do_ Nonmanufacturing industries:
Mining
do Metal
-- do __
Anthracite
do
Bituminous coal
- do
Petroleum and natural-gas production (except
contract services)
dollars
Nonmetallic mining and quarrying
do
Contract construction
do _
Nonbuilding construction
- do
Building construction
do
Transportation and public utilities:
Local railways and bus lines
- --do
Telephone
do
Gas and electric utilities
do
Wholesale and retail trade:
Wholesale trade
- - do. _
Retail trade (except eating and drinking places) 9
dollars _ _
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 dyeing plants
do -Miscellaneous wage data:
Construction wages (ENR): §
Common labor
dol. per hr__
Skilled labor
.
do
Equipment operators
_ __
- --do
Farm wages, without board or room (quarterly)
dol. perhr__
Railroad wages (average, class I)
do
Road-building wages common labor (qtrly) do
1.72
1.62
1.60
1.52
1.56
2.24
2.38
2.75
2.47
2.63
2.90
2.99
2.48
1.64
1.80
1. 61
1.60
1.50
1.53
2.24
2.37
2.75
2.48
2.68
2.93
3.03
2.47
1.64
1.80
1.63
1.61
1.52
1. 54
2.26
2.40
2.77
2.49
2. 65
2.90
3.01
2.52
1.65
1.82
1.63
1.62
1.52
1.54
2.28
2.43
2.77
2.52
2.67
2.91
3.02
2.53
1.65
1.82
1.62
1.61
1.50
1. 55
2.29
2.44
2.78
2.55
2.70
2.92
3.03
2.55
1.64
1.71
1.62
1.61
1.51
1.57
2.30
2.45
2.77
2.54
2.68
2.89
3.00
2.51
1.64
1.57
1.62
1.60
1.52
1.58
2.32
2.47
2.80
2.54
2.70
2 92
3.03
2.52
1.65
1.61
1.63
1.60
1.53
1.59
2.31
2.46
2.79
2.53
2.70
2.89
3.00
2.55
1.66
1.74
1.62
1.59
1.53
1.58
2.30
2.46
2.80
2.54
2.71
2.92
3.02
2.54
1.66
1.78
1.62
1.59
1.52
1.57
2.32
2.47
2.82
2.55
2.72
2.94
3.03
2.56
1.65
1.76
1.62
1.59
1.52
1.59
2.32
2.46
2.81
2.55
2.72
3.02
3.13
2.54
1.66
1.79
1.63
1 59
1.53
1.59
2.32
2.46
' 2. 81
2. 55
2.72
3.02
3.12
T
2 52
'1.67
2.72
2.65
2.76
3.28
2.71
2.66
2.77
3.27
2.70
2.67
2.78
3.27
2.69
2.67
2.75
3.28
2.68
2.69
2.75
3.26
2.67
2.68
2.74
3.26
2.68
2.71
2.74
3.26
2.69
2.72
2.76
3.27
2.68
2.70
2.73
3.25
2.70
2.72
2.74
3.26
2.74
2.71
2.81
3.29
2.72
2.70
2.87
3.27
2.81
2.26
3.30
2.99
3.38
2. 83
2.25
3.23
2.87
3.32
2.83
2.25
3.24
2.90
3.34
2.81
2. 25
3.24
2.91
3.34
2.84
2.28
3.27
2.96
3.37
2.79
2.28
3.28
3.00
3.37
2.84
2.30
3.31
3.01
3.40
2.84
2.30
3.32
3.02
3.42
2.83
2.31
3.32
2.97
3.42
2.83
2.31
3.38
3.04
3.46
2.97
2.31
3.39
3. 05
3.47
2.94
' 2. 30
3.40
3.03
3.48
2.29
2.24
2.66
2.29
2.22
2.67
2.31
2.24
2.68
2.32
2.24
2.68
2.32
2.26
2.69
2.32
2.26
2.70
2.33
2.34
2.76
2.32
2.30
2.74
2.33
2.30
2.75
2.37
2.32
2.77
2.38
2.32
2. 76
'2.38
'2.32
'2.77
2.29
2.29
2.30
2.31
2.32
2.31
2.33
2.33
2.33
2.33
2.34
'2.34
1.79
1.43
1.98
2.03
1.79
1.42
1.97
2.08
1.81
1.45
2.00
2.07
1.82
1.45
2.01
2.07
1.82
1.45
2.01
2.07
1.81
1,44
2.01
2.04
1.82
1.45
2.03
2.01
1.83
1.45
2.04
2.05
1.82
1.44
2.07
2.05
1.78
1.40
2.03
2.02
1.84
1.47
2.06
2.03
1.84
1.46
'2.06
2.00
1.20
1.20
1.39
1.20
1.20
1.42
1.21
1.22
1.42
1.22
1.22
1.43
1.22
1.22
1.41
1.22
1.22
1.41
1.23
1.23
1.42
1.24
1.23
1.43
1.24
1.23
1.41
1.25
1.23
1.42
1.23
1.23
1.42
1.24
1.23
'1.42
2.642
3.950
3.582
2.645
3.958
3.598
2 672
3.976
3. 604
2.706
4.020
3. 635
2.724
4.050
3.664
2. 734
4.063
3. 695
2.739
4.087
3.712
2. 739
4.090
3.718
2.745
4.095
3.744
2.747
4.099
3.728
2.765
4.118
3.736
2.765
4.119
3.747
2.568
1.03
2.585
1.92
2.588
2. 581
1 02
2.621
2.11
2.592
2.645
.90
2. 650
2.21
2.646
2.655
1 08
2.656
2.03
3.2
1.7
3.3
1.1
1.6
3.9
2.3
3.3
1.1
1.7
2.9
1.7
3.6
1.1
2.0
3.8
1.9
4.3
1.5
2.2
3.8
1.9
4.4
1.9
2.0
2.8
1.5
3.8
1.0
2.2
2.3
1.0
3.9
.7
2.7
1.9
.7
4.1
.6
3.0
3.1
1.0
4.3
'367
'156
'400
'214
'319
'125
'361
'134
'271
'131
'258
'106
'192
'53
'574
'236
' 2, 110
'629
'314
' 2, 950
'530
'233
2, 140
'554
'221
' 1, 700
'500
'209
' 1, 650
'432
'146
'1,500
'368
'85
'732
1.81
1.63
pl.86
T 1. 64
1.59
2.32
r> 1 . 58
"2.33
2.82
2.54
p 2. 82
P 2. 55
3.01
P3.05
2.53
1.67
T' 2. 54
pl.69
2.765
4.120
3.747
2.775
4.133
3.760
1.04
LABOR CONDITIONS
Labor turnover in manufacturing establishments:
2.8
2.7
Accession rate, total
mo rate per 100 employees
1.4
1.5
New hires.
..
_ ._
do
3.6
3.7
Separation rate, total
_ do
1.1
1.0
Quit
do
2.0
2.2
Layoff
do
Industrial disputes (strikes and lockouts) :
Beginning in month:
'352
1270
Work stoppages
number
'150
*85
Workers involved
. ..
thousands-.
In effect during month:
'535
U30
Work stoppages
number
'222
Workers involved
.thousands __ 'U30
Man-days idle during month
_
_ d o __ ' 1 1, 550 ' 1, 930
EMPLOYMENT SERVICE AND UNEMPLOYMENT INSURANCE
511
450
Nonfarm placements - _
.thousands
Unemployment insurance programs:
2,078
2,370
Insured unemployment, all programst9
do
State programs :f
1,232
1,387
Initial claims
- do
1,939
2,209
Insured unemployment, weekly average— do. _.
4.9
5.7
Percent of covered employ mentcf
1,792
1,981
Beneficiaries, weekly average
thousands-237.4
287.1
Benefits paid
mil. of dol
Federal employees, insured unemployment
33
38
thousands _.
Veterans' program (UCX):*
23
29
Initial claims
do
54
61
Insured unemployment, weekly average.._do
55
59
Beneficiaries, weekly average - - - do _
7.0
8.3
Benefits paid
mil. of doLRailroad program:
6
59
Applications
thousands-54
63
Insured unemployment, weekly average do
10.4
13.4
Benefits paid
mil. of doL.
r
3'.0
'2.7
.9
'3.6
.6
'2.5
P2.7
pl.O
p3. 1
p.7
pl.9
'110
'28
170
80
210
'120
220
55
'250
'53
'458
300
100
700
330
'150
'940
350
75
610
534
537
491
556
584
517
430
378
365
342
417
1,801
1,700
1,826
1,804
1,781
1,839
2,225
2,847
3,515
3,639
'3,403
23,006
1, 162
1,682
4.3
1,494
204.9
1,197
1,588
4.0
1,447
198.9
1,426
1, 686
4.3
1,392
183.8
1,407
1,657
4.2
1,399
206.3
1,206
1,598
4.0
1,418
201.8
1,393
1,678
4.2
1,395
189.9
1,744
2,039
5.1
1,603
231.1
2,175
2,639
6.6
2,069
300.2
2.381
3,266
8.1
2,722
397.6
1,919
3,394
8.4
2,984
399.3
1,709
3.168
'7.8
2,899
461.5
2 2, 779
26.8
30
29
30
30
28
30
33
35
40
41
'40
236
22
45
45
6.0
27
45
44
6.0
30
49
43
5.5
32
52
48
6.8
27
49
48
6.4
29
50
45
5.9
33
59
52
7.0
36
71
64
8.6
39
86
81
11.0
33
91
89
11.0
35
91
80
11.6
283
5
45
7.9
6
39
7.5
81
61
7.4
31
65
12.1
99
107
18.5
20
82
15.2
23
95
16.0
21
103
18.8
38
123
22.2
13
'113
19.7
P106
' Revised.
p Preliminary.
1 Revisions for 1960 (order and units as above): January—191; 71; 313; 131;1,110; February—242; 65; 373; 128; 1,280.
2 Excludes persons under Temporary Extended Compensation program and under extended duration provisions (thous.): April 1961, 580 and 40, respectively.
9 Includes data not shown separately.
§ Rates as of May 1, 1961: Common labor, $2.815; skilled labor, $4.163; equipment operators, $3.791.
fBeginning with the October 1959 SURVEY, data are revised to include operations in Alaska and Hawaii; figures for State programs are also revised to exclude Federal employees'
program (shown separately below).
cfRate of covered employment expresses average insured unemployment in each month as a percentage of average covered employment for the most recent 12-month period for which data
are available (the lag for covered employment data may range from 6 to 8 months).
*New series. Data relate to persons eligible for compensation under the Ex-Servicemen's Unemployment Compensation Act of 1958 (effective Oct. 27,1958).
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
Hay 10151
1960
March
April
May
June
July
1%1
DecemOctober NovemAugust September
ber
ber
January
February
March
April
FINANCE
BANKING
Open market paper outstanding, end of mo.:
Bankers' acceptances
mil. of dol__
Commercial and finance company paper, total. -do
Placed through dealers
do
Placed directly (finance paper)*
do
1,366
4,320
805
3,515
1,336
4,269
888
3,381
1,263
4,492
920
3,572
1,382
4,459
1,021
3,438
1,561
4,652
1,116
3,536
1,656
4,920
1,266
3,654
1, 668
4,558
1,263
3,295
1,753
5,056
1, 365
3,691
1,868
5,097
1,380
3,717
2,027
4,312
1,252
3,060
2,029
4,949
1,404
3,545
2,049
4,907
1,418
3,489
2,231
4,885
1,418
3,467
Agricultural loans and discounts outstanding of agencies supervised by the Farm Credit Adm.:
Total
mil. ofdoL.
Farm mortgage loans* Federal land banks do
Loans to cooperatives
do
Other loans and discounts
do
4,616
2,428
609
1,580
4,690
2,446
594
1,649
4,747
2,468
565
1,714
4,812
2,487
551
1,774
4,853
2,500
557
1,795
4,871
2,515
562
1,794
4,870
2,528
589
1,753
4,837
2,538
638
1,660
4,787
2,548
652
1,587
4,795
2,564
649
1,582
4.851
2, 581
675
1,595
4,936
2, 605
683
1,648
5,023
2,640
665
1,718
245, 729
do
96, 593
do
do_ __ 50, 410
226, 007
86, 174
46, 862
232, 844
88, 551
47, 895
250, 852
99. 809
50, 415
223. 539
86, 063
45, 254
241, 771
92,435
49,474
240, 772
97, 162
47, 909
233, 131 235,100
91, 020
89, 905
47, 577
47, 567
256, 905
101,551
52, 313
247, 654 '222,671
94, 473
89, 831
52, 382
44, 861
255, 389
100, 455
53, 354
51, 577
27, 103
756
25, 264
19,113
51, 983
27, 131
571
25, 558
19, 066
51, 144
27, 262
342
26, 035
19, 059
52, 394
27, 869
258
26, 523
19, 029
52, 116
28, 131
343
26, 885
18, 839
52, 009
27, 907
405
26, 762
18, 709
52, 134
28. 402
181
27, 024
18, 394
52,183
28, 729
193
27, 402
18, 107
51, 962
28, 731
101
27, 488
17, 610
52, 984
29, 359
33
27, 384
17, 479
50, 235
27, 560
60
26, 570
17,140
50, 438
27, 866
53
26, 667
17, 075
50,188
28, 060
115
26, 688
17, 099
50,549
27, 950
67
26, 772
17,089
51, 577
18, 861
17, 773
27, 341
51, 983
18,976
17,850
27, 258
51, 144
18, 643
17,619
27, 344
52, 394
19, 126
17, 941
27, 505
52, 116
19,305
18, 261
27, 612
52, 009
18, 853
17, 735
27, 621
52, 134
19,110
17. 942
27, 651
52, 183
19, 120
17,956
27, 680
51, 962
17, 924
16, 770
28,066
52, 984
18, 336
17,081
28, 450
50, 235
17, 268
16, 066
27,700
50, 438
17, 355
16, 277
27, 548
50, 188
17, 546
16,158
27, 520
50,549
17,562
16,419
27, 415
Ratio of gold certificate reserves to deposit and FR
note liabilities combined
percent..
41.4
41.2
41.4
40.8
40.2
40.3
39.3
38.7
38.3
37.4
38.1
38.0
37.9
38.0
All member banks of Federal Reserve System , averages
of daily figures:*
Ex cess reserves
..
mil. ofdol..
Borrowings from Fed. Reserve banks __
_ do
Free reserves
do
416
635
-219
408
602
-194
469
502
-33
466
425
41
508
388
120
540
293
247
639
225
414
638
149
489
756
142
614
769
87
682
745
49
696
654
137
517
546
70
476
623
56
567
59, 085
60, 702
58, 185
58, 649
59, 392
58, 934
58, 813
59, 794
59, 762
61, 490
60, 686
59, 291
59, 488
61, 890
4,836
2,843
63, 770
4,981
3,219
62, 259
5,137
5,002
62, 026
4,718
4,965
62, 469
4,947
4,549
62, 236
4,794
3,676
62, 306
4,630
5,524
63, 918
4, 945
4,413
64, 302
4,862
3,511
67, 026
4,691
3,956
64, 581
5,079
3, 081
64,118
r
5, 008
'3,819
62, 730
4,777
2,858
30, 423
28, 731
1,550
12, 597
30, 454
28, 679
1,640
12, 638
30, 613
28, 805
1,676
13, 352
31,157
29, 250
1,778
13, 299
31, 428
29, 417
1,882
13, 736
31, 858
29, 738
1,987
13, 592
32, 186
30,112
1.945
13,784
32, 502
30, 432
1,940
14, 993
32, 483
30, 334
2,017
15, 660
33, 114
30, 760
2,220
15, 493
34, 329
31, 790
2,393
14, 652
34, 661
32,130
2,390
14, 657
35, 207
32, 647
2,409
13, 967
Investments total
do
U.S. Government obligations, direct and guaranteed total
mil. of dol
Bills '
do
Certificates.
___
_.- do
Notes and bonds
_
do
Other securities
do
34, 150
35, 563
35, 082
34, 733
36, 679
36, 902
37, 490
38, 994
38,883
40, 242
40, 859
40, 686
39, 889
24, 495
1,069
431
22, 995
9,655
25, 991
1,474
444
24, 073
9,572
25, 752
1,314
874
23, 564
9,330
25, 359
950
874
23, 535
9,374
27, 062
2,782
848
23, 432
9,617
27, 381
2,612
1,309
23, 460
9,521
27,816
2, 825
1,364
23. 627
9,674
29, 305
4,037
1,458
23, 810
9,689
29,312
3, 500
1,327
24,485
9,571
30, 165
4,028
1, 537
24, 600
10, 077
30,712
4,463
1,594
24, 655
10, 147
30, 265
3, 653
1,081
25, 531
10, 421
29,155
2,753
1,146
Loans (adjusted) total©
do
Commercial and industrial
do
To brokers and dealers in securities
do
Other loans for purchasing or carrying securities
mil. of dol__
To nonbank financial institutions
do
Real estate loans
do
Other loans
do
66, 890
31,009
1,479
67, 492
30, 927
1,812
67, 843
31,156
1,705
68, 691
31,632
1,665
68, 469
31,093
1,982
67, 948
30, 955
1,865
68, 727
31,526
2,066
68, 812
31 , 637
2,260
68. 445
31, 749
1,851
70, 174
31, 931
2,610
68, 792
31,0^7
2,268
68, 955
31,303
2,217
68, 784
31,959
1,800
1, 266
5,771
12, 586
17, 645
1,251
5,891
12, 581
18, 099
1,274
5,946
12, 548
18, 149
1, 267
6,205
12, 543
18, 130
1,279
6,194
12,510
18, 486
1,274
5,843
12, 566
18,247
1,292
5,793
12,556
17, 955
1.294
5,479
12, 522
18, 393
1,281
5. 323
12,524
17, 895
1,318
5, 927
12, 508
18, 716
1,285
5,178
12, 469
19, 371
1,284
5, 278
12, 450
19, 439
1,284
4,997
12,417
19,418
Bank debits total (344 centers)
New York City
6 other centersd"
Federal Reserve banks, condition, end of month:
Assets total 9
do
Reserve bank credit outstanding, total 9 - -do. __
Discounts and advances
do
United States Government securities
do
Gold certificate reserves
do
Liabilities total 9
Deposits total 9
Member-bank reserve balances
Federal Reserve notes in circulation.
do___
do
do_ _
do
Weekly reporting member banks of Fed. Reserve System, condition, Wednesday nearest end of month:f
Deposits:
Demand adjusted©
mil. of dol
Demand' except interbank:
Individuals partnerships and corp
do
States and political subdivisions
do
TJnited States Government
do
Time except interbank total 9
Individuals, partnerships, and corp__
States and political subdivisions
Interbank (demand and time)
do
do
do
do
Money and interest rates:§
Bank rates on business loans:
5 35
5.19
5 34
5.58
r
4.99
4.77
4.97
5.33
4.97
4.74
4.96
5.32
OK 9 r a
10, 734
4.97
4.75
4.96
5.29
do
5.34
5 18
5 34
5.57
Discount rate, end of mo. (N.Y.F.R. Bank). ..do
Federal intermediate credit bank loansf
do
Federal land bank loansi
do
4.00
5.70
6.00
4.00
5.57
6.00
4.00
5.31
6.00
3.50
5.30
6.00
3.50
5.11
6.00
3.00
4.75
6.00
3.00
4.55
6.00
3.00
4.43
6.00
3.00
4.34
6.00
3.00
4.21
6.00
3.00
4.05
5.76
3.00
4.04
5.75
3.00
3.99
5.74
3.00
Open market rates, New York City:
Bankers' acceptances (prime, 90 days)
_ do
Commercial paper (prime, 4-6 months).
do
Finance Co. paper placed directly, 3-6mo.*..do
Stock Exchange call loans, going rate
do _
3.96
4.49
4.16
5.50
3.88
4.16
3.74
5.50
3.78
4.25
3.88
5.11
3.28
3.81
3.24
5.00
3.13
3.39
2.98
5.00
3.04
3.34
2.94
4.85
3.00
3.39
3.13
4.50
3.00
3.30
3.11
4.50
3.00
3.28
2.91
4.50
2.92
3.23
2.97
4.50
2.86
2.98
2.78
4.50
2.78
3.03
2.65
4.50
2.94
3.03
2.76
4.50
2.84
2.91
2.5-8
4.50
3.439
4.24
3.244
4.23
3.392
4.42
2.641
4.06
2.396
3.71
2.286
3.50
2.489
3.50
2.426
3.61
2.384
3.68
2. 272
3.51
2.302
3.53
2.408
3.54
2.420
3.43
2.327
3.39
New York City
do
11 southern and western cities
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent.,
3-5 year issues
do
Savings deposits, balance to credit of depositors:
21, 500
21,610
21, 400
21, 438
21, 720
20, 874
21, 063
21,051 21, 135
20, 848
20, 832
20, 684
20, 659
New York State savings banks
_ mil. of dol__ 20, 774
749
739
779
770
760
810
798
788
879
836
823
849
894
U.S. postal savings!
_
do
r
p
Revised.
Preliminary.
*New series (from Board of Governors of Federal Reserve System); for back data, see Federal Reserve Bulletins.
<? Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.
9 Includes data not shown separately.
f Re vised series (effective with July 1959 data\ reflecting change in coverage and format; unpublished revisions for July-December 1959 for commercial and industrial loans and loans
to nonbank financial institutions are available upon request. Figures through 1958 on old basis appear in the 1959 edition of BUSINESS STATISTICS; January-June 1959 figures (old basis), in
©For demand deposits, the term "adjusted" denotes exclusion of interbank and U.S. Government deposits and of cash items reported as in process of collection; for loans, exclusion of
loans to banks (domestic commercial banks only, beginning July 1959) and deduction of valuation reserves (individual loan items are gross, i.e., before deduction of valuation reserves).
§For bond yields, see p. S-20.
JMinor revisions prior to September 1959 will be shown later.
IData are as of end of consecutive 4-week periods ending in month indicated, except June figure which is as of June 30 (end of fiscal year).
SURVEY OF CUEEENT BUSINESS
May 1961
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
S-17
1960
March
April
May
July
June
1961
DecemAugust Septem- October November
ber
ber
January
February
March
April
FINANCE—Continued
CONSUMER CREDIT f
(Short- and Intermediate-term)
Total outstanding end of month
_
Installment credit total
51, 298
52, 353
52, 991
53, 662
53, 809
54, 092
54, 265
54, 344
54, 626
56, 049
55 021
54 102
53, 906
40, 020
40, 651
41, 125
41, 752
42, 050
42, 378
42, 517
42, 591
42, 703
43, 281
42 782
42 264
42 058
do_
__do__ _
do
do
16, 826
10. 192
2,783
10, 219
17, 170
10, 281
2,814
10, 386
17, 431
10. 339
2,865
10, 490
17,755
10, 462
2, 905
10, 630
17, 893
10. 452
2,934
10, 771
18, 020
10, 477
2,975
10, 906
18,021
10, 543
3,001
10, 952
17, 992
10, 625
3, 013
10, 961
17,967
10,715
3 020
11,001
17,866
11,215
3,008
11, 192
17
11
2
11
17
10
2
11
383
793
935
153
17, 265
10, 679
2 922
11,192
do
do
do
__do_ __
do
- do
34, 764
15,440
10, 357
3,381
3, 821
1,765
35, 431
15,711
10, 604
3.471
3,872
1,773
35, 902
15,911
10, 744
3, 537
3,902
1,808
36, 481
16,145
10, 945
3, 626
3, 957
1,808
36, 857
16, 239
11,062
3,679
4,049
1,828
37, 199
16, 362
11,142
3, 754
4,099
1,842
37, 318
16, 416
11, 154
3,795
4,111
1,842
37 330
16, 408
11,147
3,833
4,097
1,845
37 368
16, 402
11,141
3,870
4,107
1,848
37, 502
16. 398
11, 134
3,906
4,212
1,852
38 186
17 261
11 030
3,860
4 179
1 856
37 790
17 001
10 914
3 863
4 151
1 861
37 542
16 860
10, 787
3,897
4,131
1,867
do
do
do
do
do
5, 256
2 098
1,144
5,220
2, 050
1, 135
5,223
2, 054
1,125
5,271
2,073
1,132
5,193
2,020
1.124
512
516
5,179
2,012
1,132
5,199
2,049
1,129
5,261
2 103
1,130
5, 335
2 155
1,140
5,779
2,401
1,189
4 596
1 342
1 151
4 474
1 348
1 121
4,516
1 442
1,092
1, 527
1.539
1,541
1, 554
1, 533
1,515
1,502
1,510
1,523
1,676
1 599
1 508
1,491
do
11,278
11, 702
11,866
11,910
11,759
11,714
11,748
11, 753
11,923
12, 768
12 239
11 838
11 848
do
4,191
3, 556
4,226
3 627
4, 313
3 631
4,294
3,682
4,265
3 663
4,276
3, 656
4,317
3 715
4,272
3 692
4 301
3 711
4,311
3 737
4 314
3 740
4 381
3 789
4 417
3 793
592
624
mil.ofdol__
-
Automobile paper
Other consumer goods paper
Repair and modernization loans
Personal loans
By type of holder:
Financial institutions total
Commercial banks
Sales finance companies
Credit unions
Consumer finance companies
Other
_
_
Retail outlets total
Department stores
Furniture stores
Automobile dealers
Other
-
Noninstallment credit total
Single-payment loans total
Other financial institutions*
Charge accounts total
Department stores*
Other retail outlets*
Credit cards*
Service credit
do
487
635
496
599
503
602
520
620
519
518
682
612
4, 342
4,423
4,311
4,277
4,283
4,370
3,382
3,295
3, 236
3,199
3,266
602
580
517
513
611
050
967
154
504
497
491
590
574
4,463
5,187
4,599
4 037
4,004
3,326
3,801
3 346
2 926
2,926
574
do
do
do
do
do_ _ _
3,927
4, 245
2,917
3,206
3,160
3,231
3.211
3,193
3,183
3, 161
3,148
3,111
3,159
3,270
3,326
3,420
3,427
- do __
do
do
_ _ _ do __
4, 238
1,629
1,089
1,520
4, 509
1,692
1,202
1,615
4, 375
1,658
1,183
1,534
4,615
1,733
1,267
1,615
4,156
1,473
1,085
1,598
4,365
1,570
1,165
1,630
4,010
1,372
1,173
1,465
4,012
1,407
1,207
1,398
4,067
1,364
1,217
1,486
4,641
1,248
1,654
1,739
3,473
1,130
1,012
1,331
3,241
1,051
1,302
3,995
1,330
1, 125
1,540
do
do
do
_ _ d o _ _.
4,003
1,429
1, 151
1,423
3,878
1,348
1,113
1,417
3,901
1,397
1, 125
1,379
3,988
1,409
,144
,435
3, 858
1,335
1,095
1,428
4,037
1,443
1,140
1,454
3,871
1,371
1,107
1,393
3,938
1,436
1,125
1,377
3, 955
1,389
1,127
1,439
4,063
1,349
1,154
1,560
3,972
1,385
1,177
1,410
3, 759
1,279
1,145
1,335
4,201
1,448
1,239
1,514
do
do
do
do
4,259
1,591
1,178
1,490
4,499
1,636
1,266
1,597
4,255
1,558
1,170
1,527
,313
,538
,248
1,527
4,214
1,417
1,168
1,629
4,072
1,422
1,112
1.538
4,125
1,422
1, 162
1,541
4,108
1,460
1,165
1,483
4, 134
1,482
1.159
1,493
4,007
1,325
1,200
1,482
3,869
1,239
1,185
1,445
3,803
1,190
1,131
1,482
4,002
1,288
1,212
1,502
do
do
do
do
3,777
1,342
1,081
1,354
3,935
1,379
1,111
1,445
3,911
1,402
1, 126
1,383
3,934
1,392
1,135
1,407
3,997
1,385
1,148
1,464
3,918
1,388
1,123
1,407
3,958
1,375
1,141
1,442
3,994
1,417
1,147
1,430
3,946
1,397
1,119
1,430
3,931
1, 356
1, 156
1,419
3,972
1,387
1,154
1,431
4,011
1,363
1,191
1,457
3,954
1,353
1,163
1,438
12, 217
9, 580
7 468
5,064
9 725
6, 550
12, 804
10, 891
3, 976
3,128
8 590
6,454
10,211
8,981
3 641
2,823
7,900
6,300
92
91
8 751
7,643
5 537
4,846
9 153
6,537
11 878
8,524
70
88
3,198
5,567
- -
Installment credit extended and repaid :
Unadjusted :
Extended total
Automobile paper
Other consumer goods paper
All other
-
do
Repaid total
Automobile paper
Other consumer goods paper
All other
_ -Adjusted:
Extended total
Automobile paper
Other consumer goods paper
All other
Repaid total
Automobile paper
Other consumer goods paper
All other
622
388
656
h83
646
3, 305
391
633
408
584
432
584
457
625
459
661
443
709
428
941
445
805
448
669
442
888
637
441
FEDERAL GOVERNMENT FINANCE
Budget receipts and expenditures:
Receipts total
Receipts net 1
Customs
mil of dol
do
- do. _.
Individual income taxes
Corporation income taxes. __
_
Employment taxes
Other internal revenue and receipts
Expenditures total f
Interest on public debt
Veterans' services and benefits
Major national security
All other expenditures
Public debt and guaranteed obligations:
Gross debt (direct), end of month, total
Interest bearing, total
Public issues
__
Held by U S Govt. investment accts cf
Special issues _
_
Noninterest bearing
91
91
90
do
do
do
do
3,332
6,192
1,149
1,439
4,290
5,783
1,609
1,918
1,466
4,125
5,530
1, 155
1,903
do
do _
do
do
do
6,423
6, 032
6, 073
6,521
do
do
do
do
do
do
Obligations guaranteed by U.S. Govt., end mo._do
U.S. savings bonds:
Amount outstanding, end of month
do _
Sales, series E and H
do
Redemptions
do
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
r
Revised.
*> Preliminary,
and for Hawaii beginning Augui
1959, see the December 1960 and
penditures reflect exclusion of cei
sions for January-October 1958 will be shown later.
105
784
457
619
858
772
421
467
772
422
801
428
84
93
87
1,401
4,996
1,296
4,648
409
4,486
3,492
455
2,974
3,331
1,608
1,484
1,354
596
534
348
1,383
1,295
1,411
444
1,439
1,770
1,375
1,814
1,258
3,171
5,799
1,348
1,472
6,172
6,803
6,793
6,829
6,773
6,847
6,470
6 236
7 012
670
383
806
404
751
461
792
736
416
481
389
748
422
734
436
80
765
438
82
775
444
719
431
3, 976
1,207
3,669
1,179
3,669
1,216
3,987
1, 573
3,471
1,533
3,976
1,645
3,910
1,746
3,728
1,934
3,884
1,727
4,217
1,638
3,693
1, 612
3,778
1,344
286, 826
283, 772
240, 515
10, 330
43, 257
3,054
288, 787
285, 773
242, 930
10, 283
42, 843
3,014
289, 367
286, 308
242, 408
10,385
43, 900
3,059
286, 331
283, 241
238, 342
10, 360
44, 899
3,090
288, 338
285, 285
241, 088
10, 559
44, 198
3,053
288, 672
285, 634
240, 413
10, 641
45, 222
3,038
288, 423
285, 358
240, 382
10, 487
44, 977
3,065
290, 487
287, 372
243, 097
10, 671
44, 275
3,115
290, 414
287, 138
242, 578
10, 748
44, 561
3,276
290, 217
286, 820
242, 474
10, 639
44, 346
3,396
290,036
286, 651
242, 827
10, 661
43, 824
3,385
290, 544
287, 190
243, 462
10, 677
43, 727
3,354
726
287, 471
284, 058
240 057
287, 987
284, 631
241, 619
44 001
3 414
43,012
3, 356
138
132
133
140
134
157
161
159
153
156
160
196
211
219
48, 085
393
584
47, 953
340
564
47, 889
349
508
47, 824
340
527
47, 620
354
683
47, 596
355
476
47, 578
340
453
47,605
346
413
47, 629
326
398
47, 527
348
575
47, 553
456
559
47, 621
416
448
47, 665
435
489
47, 678
348
433
114,965
115, 394
115, 908
116, 377
117,005
117, 581
117, 947
118, 544
119,066
119,717
120, 467
120, 951
121, 469
57, 214
6,808
3,257
15, 768
3,775
24, 114
57, 291
6 723
3,278
15 783
3,764
24, 224
57, 494
6 661
3,304
15, 807
3,767
24, 384
57, 557
6 559
3 317
15 843
3 766
24, 473
57,877
6,632
3,421
15 834
3,770
24,609
58, 031
6 592
3 464
15 844
3 758
24, 729
58, 164
6 586
3 546
15 868
3 756
24, 743
58, 398
6 524
3 579
15 875
3' 749
24, 998
58, 619
6 547
3 605
15 924
3 750
25, 108
58, 685
6 444
3 622
15 942
3 732
25, 225
59, 092
6 545
3 671
15 967
3 711
25, 420
59, 240
6 542
3 702
15 976
3 712
25, 485
59 364
6 535
3 735
is'? 962
3 715
2S! 564
SUKVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
March
BUSINESS STATISTICS
May 10(51
1960
April
May
June
July
1961
DecemOctober NovemAugust September
ber
ber
January
February
March
April
FINANCE—Continued
LIFE INSURANCE— Continued
Institute of Life Insurance©— Continued
Assets, all U.S. life insurance companies— Con.
Stocks (book value), domestic and foreign, total
mil. of dol. . 3,722
Preferred (U S.)
do
1,750
1,927
Common (U S )
do
40,011
Mortgage loans total
_ __do
37, 155
Nonfarm
do
Real estate
do
Policy loans and premium notes
do
Cash
_ _ _ do _ _
Other assets
_
_ _
do
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance) :J
Value, estimated total _
mil. ofdoL.
Group and wholesale
do
Industrial
_
do
Ordinary total
do
New England
Middle Atlantic
East North Central
West North Central
South Atlantic _
East South Central
_
_
__
do
_ do
do
do
do
do
..
West South Central
do
Mountain
_ __
do
Pacific (incl Alaska and Hawaii)
do
Institute of Life Insurance: J
Payments to policyholders and beneficiaries, estimated total
mil of dol
Death benefits
do
M^atured endowments
do
Disability payments
do
Annuity payments
Surrender values
Policy dividends
Life Insurance Association of America:
A
H
f] hi
t
do
do
do
1th
,1
Annuities
Group
Industrial
Ordinary
do
do
do
do
3,742
1,753
1,944
40, 236
37, 358
3, 785
1,770
1.971
40, 439
37, 545
3,788
1,723
2,019
40, 631
37, 722
3,828
1,790
1,988
40, 694
37, 769
3,881
1,818
2,010
40, 920
37, 982
3, 885
1,836
1,996
41, 099
38, 153
3,941
1,871
2,017
41,313
38, 356
3,980
1,876
2,050
41,521
38,553
4,054
1,895
2,102
41, 798
38, 803
4,095
1,914
2,126
42, 008
39, 021
4,150
1, 936
2, 157
42, 143
39, 152
4, 235
1,945
2 2°8
42, 351
39, 347
3,712
4,774
1, 153
4,379
3,721
4,838
1,192
4,374
3, 766
4,897
1, 180
4,347
3,786
4, 957
1,213
4,445
3,809
5,029
1,225
4,543
3,822
5,085
1,229
4,613
3,828
5,138
1,178
4,655
3,834
5,182
1,268
4,608
3,851
5,225
1,233
4,637
3,804
5, 267
1,332
4,777
3,813
5,303
1,278
4,878
3,822
5. 345
1,269
4,982
3,823
5, 409
1,219
5, 068
6,287
1 , 092
576
4,619
5,847
913
597
4,337
6,065
929
656
4,480
6,745
1,611
607
4,527
5,908
1,327
541
4,040
5,920
1,017
569
4,334
5, 577
1,031
550
3,996
6,086
1,228
580
4,278
6,654
1, 623
543
4,488
6,998
1,694
485
4,819
5,074
1,094
503
3,477
5,327
896
526
3,905
8,879
3,627
605
4,647
287
959
954
360
580
294
264
925
884
324
571
207
277
950
877
350
602
215
279
953
865
366
606
218
247
850
791
340
537
189
269
893
872
355
568
204
238
787
796
331
539
198
260
874
856
337
587
237
293
963
873
342
601
223
295
967
927
379
633
263
212
708
683
279
459
165
253
769
780
318
520
189
290
957
929
376
611
216
451
208
596
419
190
553
433
202
574
464
202
574
401
180
505
42]
201
551
393
190
524
392
192
543
412
213
568
463
236
656
342
165
465
382
183
511
453
214
601
770.2
327. 5
63.5
11.1
650.1
270.2
56.9
9.8
673.5
285.6
57.7
10.2
672.9
280.0
57.3
9.9
605.7
251.4
48.4
9.7
679.4
292.2
51.4
10.7
633. 3
260.9
50.9
9.6
626.1
258.4
52.8
10.3
660. 7
283.1
57.5
10.1
853.7
295.7
58.4
11.5
711.2
304.2
62.9
11.9
683.2
292.2
56.5
10.2
804. 5
333.0
64.1
11.5
58.6
155.9
153.6
59.3
132.5
121.4
60.1
139.0
120.9
60.8
134.7
130.2
59.4
132.1
104.7
59.5
142.4
123.2
56.5
125. 9
129.5
58.8
132.9
112.9
59.3
135.0
115.7
56.1
147.2
284.8
81.2
138.5
112.5
61.9
139.8
122.6
65.6
165.6
164.7
17, 388
161
140, 284
3,091
2, 815. 5
552.0
256.8
357.0
170.1
1, 479. 6
2 771 2
539 6
240.7
321.8
173.0
1, 496. 0
2 825 0
522 7
269 9
344.8
176.0
1,511 6
3 252. 1
612.7
329.2
348.4
286.7
1, 675. 1
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, U.S. (end of mo.)
Net release from earmark §
Exports
mil. of dol__ 19, 408
-13
do
111
thous of dol
1 7, 592
19, 360
-71
278
8,639
19. 352
-14
71
10, 321
19, 322
-102
121
76, 649
19. 144
-222
148
49, 096
19, 005
-151
39
11, 954
18, 685
-319
167
5,376
18. 402
-397
270
125, 558
17, 910
-512
172
19, 556
17, 767
-145
123
3,397
17, 441
-322
22, 463
2,779
17, 373
3
49, 138
2,209
Production reported monthly total 9
do
Africa
do
Canada
do
United States
do
Silver:
Exports
do
Imports
do
Price at New York
__dol. per fine oz_
Production:
Canada
thous of fine oz
Miexico
do
United States
do
Money supply (end of month, or last Wed.):
Currency ir> circulation
bil of dol
Deposits and currency, total
do
Foreign banks deposits, net
__ _ do
U S. Government balances
do
89, 100
64, 800
13,600
3, 500
90, 200
67,000
12, 800
3,500
68, 700
13, 200
4,100
13,500
3,900
13, 800
4,500
13, 300
4,900
12, 900
5,000
14, 100
4,400
13, 700
4,300
13, 800
3,900
13, 200
3,200
12, 600
2,900
1,841
5,501
.914
1,255
6,739
.914
1,003
3,982
.914
3,545
6,649
.914
2,074
4,396
.914
2, 466
4,251
.914
1,801
5,864
.914
1,754
3,999
.914
3,093
3,039
.914
3,667
4,638
.914
4,673
4,105
.914
3.188
3. 658
.914
2,740
3, 360
4,010
2,589
4,240
3,866
2,355
3,202
3, 425
2.971
3,565
3 278
2 920
3,100
2 817
2. 650
3,941
3, 115
2,468
3,622
2,415
2,878
3,500
2,918
3,086
3,521
3,405
3,483
4,117
4,111
2, 515
31.6
247.3
2.7
5.6
31.6
250.2
2.8
5.7
31.9
249.3
2.8
8.1
32.1
251.0
2.9
8.2
32.0
252.9
2.8
7.4
32.0
252.2
3.0
6.6
32.0
255.1
2.9
8.7
32.1
257.5
3.1
7. 1
32.6
257.0
3.1
6.5
32.9
' 263. 2
-3.2
T
7.1
31.8
259.2
3.1
4.5
Deposits (adjusted) and currency, total!
do
Demand deposits, adjusted^.
do
Time deposits, adjusted^
do
Currency outside banks
do
Turnover of demand deposits except interbank and
U.S. Government, annual rates, seas, adjusted:!
New York City71
ratio of debits to deposits
6 other centersd
do
337 other reporting centers
do
239.0
108.8
102.2
28. 1
241.7
111.5
102.3
27.9
238.4
107.7
102.6
28.1
239.8
107.8
103.7
28.3
242.6
110. 1
104.2
28.4
242.7
108.9
105.2
28 5
243.6
109.3
106.0
28.3
247.2
112.2
106. 7
28 3
247.3
111.9
106. 7
28.7
' 252. 9
'r 108. 5
29. 4
251.6
'114.7
57.9
34.0
25.8
56.4
35.3
26.1
61.1
35.5
26.3
61.3
35.7
26.4
58.9
34.2
25.5
65.5
36.7
26.6
68.5
35.8
26.0
60.0
34.9
25.5
63.5
35.8
26.2
57.8
34.3
25.1
' 115.1
17,390
4,670
4,502
.914
.914
31.8
259. 5
3.1
6.9
31.9
' 258. 9
3.3
5.3
260.7
3.2
3.2
28.0
249. 5
110.6
110.7
28.2
'111.9
28.0
57.0
'36.5
25.7
63.7
'35.8
25.7
61.1
P35. 4
P 26. 1
3,325
' 109. 0
3,190
T
' 250. 2
no. 3
254. 3
113.6
112. 8
27.9
PROFITS AND DIVIDENDS (QUARTERLY)
Manufacturing corporations (Fed. Trade and SEC):O
3,512
3,992
3,612
4 081
Net profit after taxes all industries
mil of dol
349
309
261
305
Food and kindred products
do
70
80
93
86
Textile mill products
do
Lumber and wood products (except furniture)
34
2
24
45
mil of dol
1
141
144
143
159
Paoer and allied products
do
* Revised.
» Preliminary.
©See footnote "t" for p. S-17.
JInsurance written includes data for Alaska beginning 1957 and for Hawaii beginning 1958: revised figures for 1958-April 1959 (including these States) will be shown later. Payments to
policyholders, etc., include data for Alaska beginning January 1959 and for Hawaii beginning September 1959.
§0r increase in earmarked gold (—).
9 Includes data for the following countries not shown separately: Mexico; Brazil; Colombia; Nicaragua; Australia; and India.
IThe term "adjusted" denotes exclusion of interbank and U.S. Government deposits; for demand deposits, also exclusion of cash items reported as in process of collection.
{Revised series, replacing unadjusted rates shown prior to the February 1960 SURVEY and incorporating two major changes. See the January 1960 Federal Reserve Bulletin for details and
data back to January 1950.
cf Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.
OEffective with the July 1959 SURVEY, estimates are based on the latest revised (1957) Standard Industrial Classification Manual and, for most industries, are not comparable with
previously published data. Comparable data for 1st quarter of 1958 are available upon request.
SURVEY OF CURRENT BUSINESS
May 1961
S-19
1960
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
March
April
May
June
July
1961
DecemOctober NovemAugust September
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 equip., and supplies 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, profits after taxes (Fed. Res.)
mil of dol
Transportation and communications (see pp. S-23 and
S-24).
507
684
92
141
400
559
623
187
141
263
504
738
177
116
132
441
832
117
95
150
95
263
272
123
319
265
131
231
250
55
193
239
64
565
390
74
504
428
50
191
482
35
416
417
2,001
2 024
1 953
2 302
502
422
418
452
SECURITIES ISSUED
Securities and Exchange Commission: J
Estimated gross proceeds, total
By type of security:
Bonds and notes, total
Corporate
Common stock
Preferred stock.
By type of issuer:
Corporate, total 9
Manufacturing
Extractive (mining)
Public utility
Railroad
Communication
Financial and real estate. .
2,077
4,579
1,951
2 493
1 626
3 177
1 822
1 799
1 985
1 981
' 1,774
' 5, 455
2,161
do
do
do
do
1,858
675
173
46
4, 352
584
196
31
1,760
404
153
38
2 237
859
229
26
1 504
648
101
21
3 006
816
137
34
1 673
612
92
57
1 669
783
105
25
1 852
876
117
16
1 852
786
84
45
' 1,645
' 472
'99
'30
' 5, 288
' 529
' 130
'37
2,007
542
125
29
do
do
do
do
do
do
do
894
195
79
202
8
70
223
811
180
6
326
29
53
147
595
101
34
147
20
38
150
1,115
265
4
371
46
65
293
770
190
26
144
31
58
280
987
232
9
226
16
163
220
761
170
5
306
16
91
89
913
203
9
195
g
256
158
1,009
286
14
322
3
27
253
915
228
22
184
11
98
247
140
'28
T
21
'149
'695
' 106
'28
'163
17
' 41
'228
696
286
17
85
23
90
97
do
do
do
1,183
391
568
3,768
2,860
717
1,356
368
556
1,378
350
978
856
353
475
2 190
1 371
' 607
1 061
338
682
886
345
343
976
326
496
1, 066
348
490
1, 173
455
706
' 4, 760
4,069
'660
1, 465
434
756
do
875
789
577
1 085
753
968
746
896
989
900
'590
'682
679
do
do
do
do
do
803
478
325
15
57
681
479
202
23
86
519
333
187
11
48
985
613
372
51
50
652
311
340
26
75
919
640
279
6
43
692
549
144
§
46
815
613
202
22
59
809
472
337
30
150
815
519
296
24
61
'552
' 359
192
' 10
'28
'612
'304
'308
' 14
'56
484
289
195
118
77
do_ ..
do
568
365
717
365
556
351
978
297
475
280
607
505
682
199
343
254
496
499
490
279
706
334
660
496
'756
'397
366
3,145
988
2,220
354
3,150
940
2,340
362
3,151
970
2,322
366
3,188
1,016
2,272
361
3,113
1,018
2,229
362
3,220
1,021
2, 236
356
3 259
1,059
2,320
377
3 243
1,063
2,300
380
3,240
1,062
2,268
390
3,317
1,135
2,275
413
3,330
1,269
2,038
453
3, 426
1, 392
1,999
427
3 659
1,507
1,997
90.90
91.02
82.54
90.08
90.18
82.59
90.42
90.53
82. 25
91 30
91.44
81.98
93 15
93.32
81 98
93 25
93.40
82.35
93 09
93^27
81 19
92 82
92 99
81 48
91 70
91.87
80 64
93 21
93.38
82 12
92 96
93.10
82 61
92 50
92.60
84 00
93 71
93 85
83 39
93.9
101.9
85.32
94.2
102.3
84.24
94.1
102.1
84.39
94 2
103 1
86.50
94 8
103 9
88.12
96.4
106.7
88.93
96 7
106 7
88.57
96 0
105 8
87.50
95.5
107.7
87.23
95 1
107.9
87.84
95 6
108.1
87.70
96 3
109 7
88.74
97 0
108 9
89.07
157,591
158,056
138, 221
131, 152
139, 696
133, 902
156, 527
150, 183
115,992
121, 746
133, 723
134, 804
107, 194
109, 017
117, 722
118, 667
115, 575
122, 200
142 969
152, 457
151 316
159, 281
181 222
171,061
247 683
222 731
155,685
156,053
136, 699
129, 427
137, 916
132, 101
153, 990
147, 589
114, 373
119,997
130, 349
132, 295
104, 218
106, 038
115, 822
116, 622
113, 600
120, 176
140, 639
150, 051
148, 724
156 486
174, 488
167, 232
237, 560
217 274
132,040
0
132,040
125, 256
6,784
110, 727
3
110, 724
104, 813
5,911
114,871
0
114, 871
109, 044
5, 827
120, 465
0
120, 465
115, 173
5, 292
93, 696
0
93, 696
87, 282
6,414
109, 148
0
109, 148
102, 913
6,235
93, 925
0
93, 925
88, 783
5,142
99, 342
0
99, 342
92, 887
6,455
109, 300
0
109, 300
101,281
8,019
130, 176
0
130, 176
122, 924
7,252
144,698
137, 643
144, 698
138,053
6, 645
137,643
132, 409
5,234
178 008
2
178 006
170, 782
7 224
109, 655
106,814
1,634
109,007
106,176
1,626
109, 395
106, 576
1,612
106, 876
104, 039
1,622
108, 994
106, 149
1,602
110,058
107, 192
1,608
110, 100
107, 273
1,585
109, 859
107, 004
1,613
106, 289
103, 465
1,596
108, 257
105, 423
1,599
107 981
105 132
1,601
107 594
104 722
1,619
109 937
107 070
1 606
120, 627
117,350
1,980
121,007
117,740
1,969
120, 979
117, 719
1,960
117,060
113, 780
1,979
117,004
113, 748
1,955
118 018
114, 763
1,953
118 271
115,015
1,952
118 357
115,074
1,980
115 909
112 625
1,979
116 147
112 895
1,947
116 163
112 920
1,938
116 315
113 089
1,927
117 312
114 088
1.926
mil of dol
_
Noncorporate, total 9
U.S Government
State and municipal.
New corporate security issues:
Estimated net proceeds, total
Proposed uses of proceeds:
New money* total
Plant and equipment
Working capital
Retirement of securities
Other purposes
State and municipal issues (Bond Buyer) :
Long-term
Short-term
_
'601
' 173
r
r
r 15
674
104
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 (net)..
do
Money borrowed
_.
_
do
Bonds
Prices:
Average price of all listed bonds (N.Y.S.E.),
total §
dollars
Domestic
do
Foreign
do
Standard & Poor's Corporation:
Industrial, utility, and railroad (Al+issues):
Composite (21 bonds) ef
dol per $100 bond
Domestic municipal (15 bonds)
do
U.S. Treasury bonds, taxablef
do
Sales:
Total, excluding U.S. Government bonds (SEC):
All registered exchanges:
Market value
thous of dol
Face value
_ ._
do
New York Stock Exchange:
Market value
do
Face value .
do
New York Stock Exchange, exclusive of stopped
sales, face value, total§ _.
thous. of dol
U.S. Government
do
Other than U.S. Government, total§
do
Domestic
do
Foreign
do
Value, issues listed on N.Y.S.E., end of mo.:
Market value, total, all issues§
mil. of dol
Domestic _
do
Foreign
__ _
do.
Face value, total, all issues§
Domestic .. _
Foreign
T
do
do
_.do
o
o
88.80
Revised.
OSee corresponding note on p. S-18.
iRevisions for January-March 1959 will be shown later.
9Includes data not shown separately.
§Data 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.
d'Number of bonds represent number currently used; the change in the number does not affect the continuity of series.
^Prices are derived from average yields on basis of an assumed 3 percent 20-year bond.
SUEVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
March
BUSINESS STATISTICS
May 1961
1961
1960
April
May
June
July
DecemAugust SeptemOctober November
ber
ber
January
Febru-
March
4.59
4.54
4.56
4.25
4.37
4.59
5.01
ary
April
FINANCE—Continued
SECURITY MARKETS— Continued
Bonds— Continued
Yields:
Domestic corporate ( Moody's)
By ratings:
Aaa
_
.
Aa
A
_
_
Baa _ .. __
By groups:
Industrial
Public utility
Railroad
Domestic municipal:
Bond Buyer (20 bonds)
_.
Standard & Poor's Corp (15 bonds)
U.S. Treasury bonds, taxable!
percent. .
4.81
4.76
4.80
4.78
4.74
4.61
4.58
4.63
4.64
4.66
_ do
do
do
do
4.49
4.62
4.86
5.25
4.45
4.58
4.79
5.20
4.46
4.61
4.84
5.28
4.45
4.60
4.81
5.26
4.41
4.56
4.77
5.22
4.28
4.44
4.65
5.08
4.25
4.41
4.63
5.01
4.30
4.44
4.67
5.11
4.31
4.47
4.69
5.08
4.35
4.50
4.71
5.10
4.32
4 48
4.69
5.10
4.27
4.40
4.63
5.07
4.22
4.33
4.57
5.02
do _ _
do
do...
4.64
4.79
4.99
4.61
4.70
4.97
4.65
4.76
4.98
4.64
4.75
4.94
4.61
4.71
4.90
4.49
4.53
4.82
4.46
4.48
4.78
4.50
4.56
4.84
4.51
4.56
4.85
4. 55
4.58
4.87
4.52
4.57
4.86
4.46
4.51
4.82
4.40
4.43
4.78
4.45
4.46
4.75
__ do.. do
do
3.50
3.87
4.08
3.61
3 84
4.17
3.61
3 85
4.16
3.53
3.78
3.99
3.47
3 72
3.86
3.33
3.53
3.79
3.51
3.53
3. 82
3.42
3 59
3.91
3.43
3.46
3.93
3.38
3 45
3.88
3.38
3 44
3.89
3.33
3 33
3.81
3.51
3.38
3.78
3.48
Cash dividend payments publicly reported: t
Total dividend payments.-.
mil. of dol_- 1,931.7
896.8
355.0
1, 948. 3
896.7
371.5
1,965.5
921.5
387.6
2, 456. 3
1,003.2
468.1
1, 957. 2
914.1
184.6
310.9
9.0
78.7
137.1
3.0
169.5
1, 264. 9
106.6
175.6
330.1
10.9
104.5
136.0
2.9
345. 9
1, 476. 4
171.8
255. 2
298.7
11.2
161.2
135.8
2.9
162.7
1, 262. 8
106.4
179.3
312.4
11.7
4.65
3.80
Stocks
Finance.
Manufacturing
Mining
_
Public utilities:
Communications
Electric and gas
Railroad .
Trade
Miscellaneous
_
177.9
310.0
10.5
78.9
134.5
3.8
153.3
1,261.4
109.3
88.6
do
175.4
do
do _ 60.1
52.3
do
31.4
do
200.8
111.4
20.6
55.5
10.1
2.6
103.2
1.0
23.7
7.3
89.7
178.6
65.5
56.7
33.8
201.7
106.1
18.0
56.3
10.1
1.8
112.2
4.2
25.0
9.5
94.6
180.3
62.3
56.5
30.8
202.3
113.1
20.0
57.8
11.7
2.1
109.6
1.4
23.0
8.1
93.1
186.6
79.7
63.3
39.5
209.0
114.6
34.6
68.1
11.8
1.7
111.9
4.1
42.8
7.7
94.3
188.3
56.8
53.6
32.3
208.7
119.3
20.4
52.8
9.5
5.58
6.03
2.67
3.53
3.96
4.63
5.59
6.05
2.67
3.56
3.96
4.63
5.59
6.05
2.67
3.56
3.96
4.63
5.59
6.06
2.67
3.56
3.96
4.81
5.59
6.05
2.68
3.56
3.96
4.81
5.58
6.03
2.68
3.56
3.96
4.85
5.57
6.02
2.69
3.56
3.96
4.85
5.58
6.04
2.69
3.47
3.96
4.85
5.57
6.00
2.71
3.46
4.00
5.01
5.64
6.01
2.74
3.44
4.09
5.08
5.64
6.01
2.74
3.41
4.20
5.08
5.65
6.01
2.75
3.41
4.20
5.19
5.65
6.01
2.77
3.35
4.20
5.19
5.66
6.02
2.79
3.35
4.20
5.19
155. 24
174. 01
66.66
64.15
152.00
169.82
67.30
62.49
155. 49
174. 47
67.31
62.49
158. 87
178. 62
71.51
64.20
155. 33
173. 55
71.12
61.95
159.22
176. 68
73.59
62.28
149. 53
165. 61
70. 25
57.56
149.30
164. 91
70.27
57.68
154. 57
169. 92
72.24
60.39
161.55
175. 22
76.82
61.28
171.83
186.00
80.47
66.00
175. 72
190.56
82.66
68.37
179. 36
193. 51
85.20
69.24
179. 65
193. 42
85.54
67.00
3.59
3.47
4.01
5.50
3.85
2.87
3.68
3.56
3.97
5.70
3.92
2.93
3.60
3.47
3.97
5.70
3.87
2.97
3.52
3.39
3.73
5.55
3.98
2.98
3.60
3.49
3.77
5.75
4.04
2.93
3.50
3.41
3.64
5.72
4.00
2.87
3.73
3.64
3.83
6.18
4.02
3.08
3.74
3.66
3.83
6.02
4.02
3.07
3.60
3.53
3.75
5.73
3.93
2.97
3.49
3.43
3.57
5.61
3.92
2.76
3.28
3.23
3.40
5.17
3.78
2.51
3.22
3.15
3.33
4.99
3.51
2.50
3.15
3.11
3.25
4.84
3.51
2.50
3.15
3.11
3.26
5.00
3.54
2.51
_ do
do
do
. _
.
157. 3
1, 259. 3
107.3
._ .
_
Dividend rates, prices, yields, and earnings, common
stocks (Moody's):
Dividends per share, annual rate (200 stocks) .dollars-Industrial (125 stocks) .
_ do. _Public utility (24 stocks)
do
Railroad (25 stocks).
__ __
do
Bank (15 stocks)
do
Insurance (10 stocks)
_
do
Price per share, end of month (200 stocks) 9 --.do
Industrial (125 stocks)
do
Public utility (24 stocks)
.
do _
Railroad (25 stocks) __
do
Yield (200 stocks)
Industrial (125 stocks)..
Public utility (24 stocks)
Railroad ( 2 5 stocks) _ _ _ _ _ _
Bank (15 stocks)
Insurance (10 stocks) _ .
_
.percent-do
do
d o _.
do
do _
Earnings per share (at annual rate), quarterly:
Industrial (125 stocks)
dollars
Public utilitv (24 stocks)
do
Railroad (25 stocks)
do
10 35
3 89
4 48
Dividend yields, preferred stocks, 14 high-grade
(Standard & Poor' s Corp )
percent
4.76
4.71
4.75
4.74
4.70
4.61
4.69
4.75
4.78
4.84
4.73
4.68
4.66
203. 52
614. 70
87.36
144. 17
205. 04
619.98
89.10
142.97
203. 39
615.64
88.91
140. 60
210. 96
644. 38
91.54
143. 04
206. 96
625. 83
93.59
138. 36
206. 82
624. 47
94.46
137. 39
199. 78
598. 10
94.37
130. 98
194. 49
582. 45
92.86
125. 80
199. 54
601. 14
94.14
128. 62
202. 81
609. 54
97.74
128. 29
212. 98
632.20
102. 79
139.44
219. 89
650. 01
107. 70
143.12
225. 64
670. 56
110.00
145. 47
Prices:
Dow-Jones averages (65 stocks)
_
__ _.
Industrial (30 stocks)
Public utility (15 stocks)
Railroad ( 2 0 stocks)
_
_ _ _ _ _
Standard & Poor's Corporation:*^
Industrial, public utility, and railroad:
Combined index (500 stocks)
1941-43 ~~ 10
Industrial total (425 stocks) 9
do
Capital goods (127 stocks)
do
Consumers' goods (193 stocks)
do
Public utility (50 stocks)
do
Railroad (25 stocks)
do
Banks:
N.Y. City (11 stocks) ...
. __ _ . do
Outside N.Y. City (16 stocks)
do
Fire insurance (15 stocks)
do
8.45
4.08
3.09
10.00
3 99
5.28
55.02
55.73
55.22
57.26
55.84
56.51
54.81
53.73
55.47
56.80
59.72
62.17
64.12
58.71
60.28
46.14
44.60
31.01
59.46
60.31
46.75
45.53
30.59
58.84
59.81
46.64
45.75
30.18
61.06
62.09
48.65
47.35
30.81
59.25
59.58
47.58
48.02
30.19
59.96
59.76
48.16
48. 65
30.19
57.96
56.77
46.51
48.64
28.76
56.90
55.25
45.68
47.34
27.77
58.89
57.42
46.96
47.83
28.93
60. 22
59.11
47.98
49.78
29.03
63.20
61.46
48.96
52.73
31.43
65.71
63.71
50.85
55.64
32.17
67.83
65. 77
53.27
57.06
32.93
26.87
52.78
33.24
26.36
52.54
33.78
26.06
51.25
32.69
25.70
50.94
33.81
25.71
52.09
34.24
25.26
52. 64
34.81
25.63
52.89
33.87
25.43
52.32
33.01
25.58
53.91
33.75
26.60
55.37
37.02
27.78
57.12
38.97
29.60
59.48
42.34
30.55
63.94
42.95
3,495
100, 674
3,938
117, 547
4,780
143, 470
3,445
105, 352
3,751
116, 064
3, 450
109, 989
3,192
101,085
3,295
104, 672
4,139
135,728
4,946
162, 841
5,275
160, 001
7,281
241, 675
2,939
70, 285
3,291
82, 391
3,967
97, 625
2,862
71, 877
3, 119
80, 851
2,867
74, 704
2,700
70, 210
2,785
72, 365
3,487
94, 756
4,176
115,063
4,407
112, 092
5,930
153, 454
57, 291
68, 827
76, 533
53, 870
65, 350
60, 854
54, 431
62, 002
77,355
89, 108
92, 804
118,035
283, 381
6 074
291, 688
6,181
298, 143
6,274
292, 392
6,306
300, 901
6,341
283, 318
6,370
281, 529
6,388
292, 991
6,398
306, 967
6,458
326, 598
6,478
337, 490
6,501
347, 576
6,529
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
3,950
Market value
mil of dol
Shares sold.. _
_ _ _ thousands - 121, 791
On New York Stock Exchange:
3, 356
Market value
mil. of dol__
85, 102
Shares sold
thousands
Exclusive of odd lot and stopped sales (N.Y.
Times)
thousands. _ 65, 715
Shares listed, N.Y. Stock Exchange, end of mo.:
Market value all listed shares
mil ofdol-_ 287, 416
6 050
Number of shares listed
millions
' Revised.
* Preliminary.
§For bonds due or callable in 10 years or more.
{Revisions for 1957-1959 are shown on p. 36 of the July 1960 SURVEY.
9 Includes data not shown separately.
cfNumber of stocks represents number currently used; the change in number does not affect continuity of the series.
8.25
4.15
0.23
9.70
4.12
6.36
228. 42
684.90
112.02
142. 53
101, 776
SURVEY OF CUERENT BUSINESS
May 1001
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
March
BUSINESS STATISTICS
S-21
1961
U960
May
April
June
July
SeptemAugust
ber
DecemOctober November
ber
January
February
March
April
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES
BALANCE OF PAYMENTS (QUARTERLY)©
Exports of goods and. services total
mil of dol
Military transfers under grants, net
do
Merchandise, adjusted, excluding military transactionst
- .mil. of dol
Income on investments abroad
do
Other services and military transactions
__do_ __
6 734
7 518
6 928
4,604
5,000
4,675
1,000
1,159
1,217
5,132
1 039
1,101
Imports of goods and services total
Merchandise adjusted Jcf
Income on foreign investments in U S
Military expenditures
Other servicesd1
5 761
3, 820
6,049
3,858
6 052
3, 554
5 441
3,485
1,222
1.471
1,008
+973
+1, 469
+876
_do_ _ -1,000
-142
do__ _
-858
do
-1,239
-163
-1,076
-871
-147
-164
+751
-1,064
-683
-381
+885
+50
-6
-145
-1,044
—900
—144
+546
+637
-144
— 1,752
— 1 393
—359
+279
+921
—610
do
do
do
do
__do_ __
Balance on goods and services
do
Unilateral transfers (net), total
Private
Government
-
-
U S long- and short-term capital (net), total
Private
Government
Foreign long- and short-term capital (net)
Gold sales [purchases ( — )]
Errors and omissions
do_ _
do
do
do_ _
do
do_ _
425
India and Pakistan
249
764
928
Latin American Republics, total 9 - - -Argentina
Brazil
Chile
Colombia
Cuba
Mexico
Venezuela
..
_ _ _
233
736
-768
—546
222
223
804
218
730
724
+94
334
733
219
322
706
219
312
690
221
296
653
221
296
654
221
••709
220
333
731
220
*>331
v 729
?220
221
610
276
221
612
277
227
629
276
201
556
277
220
608
276
204
565
277
205
564
276
209
573
274
p206
p 561
z>272
195
201
205
180
193
171
178
201
162
176
227
504
152
191
69
165
178
91
199
181
152
238
200
222
246
199
219
P211
p 197
"232
105
91
100
85
110
116
106
124
111
114
107
120
97
108
106
109
112
122
113
129
101
111
99
121
96
110
91
125
97
112
120
108
99
90
113
80
101
89
92
88
9,192
14, 809
9,460
15, 424
9,768
17,353
9,575
14, 405
10, 934
17, 128
10, 122
14, 774
10, 218
14, 132
2
9 281
2 13 86Q
1;817.8
1, 803. 8
1, 737. 4
1, 698. 8
1, 609. 4
1,610.1
1, 743. 9
1 796 7
1 796.6
1 646 7
1 671 5
1 934 2
72.5
349.9
522.9
63.1
330. 8
567.2
60.1
323.7
532.5
65.0
346.4
534.1
69.6
312.6
522 5
54.5
300.8
551. 7
67.3
334.1
572.2
65 0
372 4
612 0
68 4
420.2
611 1
59 2
373 1
518 6
62 1
373 0
534 0
80 1
426
8
692 7
337.2
151.0
165.2
351.2
151.3
180. 5
348.0
140.1
184.3
330.3
146.0
180.3
283.2
139.4
181.7
288.7
132.3
161.5
288. 2
132.6
164.1
310.7
138.8
200.1
313 3
128 0
170 9
269 8
133.5
180.9
263 2
110 0
162.6
280 5
114 9
178 2
315 5
130 3
212.8
do
do. _
14.1
22.5
15.9
26.8
9.1
7.6
23.5
6.9
25.3
11.1
27.5
9.0
31.3
19.8
15.8
22.2
21.6
17 5
16.3
20.7
11.2
18.7
12.0
22 0
16.1
28. 5
do. .do
23.9
27.7
30.9
31.7
35.0
38.4
81.3
69.8
63.1
41.6
38
66.1
37.4
78.8
61.3
52.9
68.9
41 4
4 0
72 1
32.9
3 7
85.4
30.1
36
65 5
29 9
33
50 3
29.6
4 0
70 1
115.6
109.9
104.3
101.2
120.4
93.5
26.2
22.7
22.0
25.3
21.6
98.2
5 2
21.9
24.3
115 9
9 5
25.2
156 0
28.1
135 6
16 7
24.8
137 8
13 8
24 7
164 0
1? 2
27.8
43 2
49 0
49 9
61 0
92 0
83 0
90 5
102 0
do
do
do
do
do
do-- _
Italy .
_ __
Union of Soviet Socialist Republics
United Kingdom
North and South America:
Canada
770
336
739
220
do
Japan
Republic of Indonesia
Republic of the Philippines
Europe:
France
East Germany
West Germany
266
744
705
FOREIGN TRADE
Indexes
Exports of U.S. merchandise:©
323
Quantity
1936-38=100
710
Value
_ __
__ __ _ _ d o _ _
220
Unit value
do
Imports for consumption:©
241
Quantity
do
668
Value
___do_
277
Unit value
_
-_ -do- ._
Agricultural products, quantity:
Exports, U.S. merchandise, total:
190
Unadjusted
.._ 1952-54=100-176
Seasohally adjusted
do__ 207
Cotton (incl linters) seas adj
do
Imports for consumption, total:
116
Unadjusted
_
do. _
101
Seasonally adjusted
do
112
Supplementary imports seas adj
do
94
Complementary imports seas. adj
__do
Shipping Weight
Water-borne trade:
7, 618
Exports, incl. reexports!
thous. of long tons__
14, 472
General imports
do
Value O
Exports (mdse.) , including reexports, total 1
1, 748. 8
mil ofdol
By geographic regions:A
64.9
Africa
do
363. 9
Asia and Oceania
__
_ do_
491.1
Europe
do
Northern North America
Southern North America
South America
By leading countries: A
Africa:
United Arab Republic (Egypt Region)...
Union of South Africa
Asia and Oceania:
Australia, including New Guinea
Colony of Singapore
_
_ __
615
3.1
9.6
3.6
4.3
3.2
6.4
3.9
4.0
5.7
4.0
5.1
3.5
323
3.5
99 6
5.6
6.8
31.4
do
do
do
53.1
48.7
47.2
46 8
49.3
57 3
48 6
44 3
46 0
91.7
94.2
96.7
86.1
82.7
80.4
81.9
87 5
93 8
dodo
do-
47.7
55.4
53.7
55.4
60.4
50.0
54.5
52.0
52 3
66 4
70 7
93.5
94.9
133. 3
114.8
117.0
99.6
152.3
145.9
127 9
132.3
97 4
3.9
70 7
2 6
92 1
81 6
4 6
115 2
do
337.1
351.2
348.0
329.8
283. 2
288 7
288 2
310 7
313 2
269 8
263 2
280 5
315 5
do
290.3
306.6
301.2
302.6
296.2
271. 5
273.1
312.9
272 5
289.0
248 4
271 1
314 2
do
do
-do-
22.9
29.6
12.9
24.5
30.7
16.7
25 9
40.0
16.6
30 6
48.0
16.2
30 8
42.1
17.6
28 7
38 0
12.9
34 3
35 2
15.0
37 7
33 9
21 0
30 1
37 3
18 0
32 1
43 8
16 7
28 6
41 2
18 1
31 0
39 4
20 9
29 6
57 3
20 7
do
do
do_
do
21.8
26.1
71.2
50.4
23 7
25.7
68.5
50.2
22 7
22 2
66.8
42.4
20 8
21 7
74.4
36.8
19 4
19 5
67.0
43.9
17 3
18 1
66 6
40.9
18 0
17 8
63 3
39.1
20 8
17 1
65 5
62.6
19 2
39
68 1
40.9
21 2
52
75 8
37.9
16 3
29
58 8
35.9
18 8
38
62 6
20 7
2 6
69 5
.3
.4
0
2.1
.4
1.9
.2
4.4
1.8
1.9
.3
5.9
.1
3.2
.2
4.3
1
4.4
(i)
4.0
3
0
_
57! o
4L3
••Revised.
» Preliminary.
1 Less than $50,000.
2 Revisions for November 1959 (units as above): Exports, 7,667; imports, 15,662.
£B Revisions for 1958-lst quarter 1959 appear on p. 14 ff. of the June 1960 SURVEY.
fAdjusted for balance-of-payments purposes, mainly for valuation, coverage, and timing. cfExcIudes military expenditures.
O Re visions for 1958 and 1959 will be shown later.
§Excludes "special category" shipments and all commodities exported under foreign-aid programs as Department of Defense controlled cargo.
IData include shipments (military and economic aid) under the Mutual Security Program. Total MSP military shipments (including, since early 1956, also ' 'consumables and construetion" shipments) are as follows (mil. dol): March 1960-March 1961, respectively—117.2; 114.7; 94.0; 100.0; 70.2; 62.6; 53.5; 53.9; 73.1; 53.3; 107.9; 65.4;45.1.
AExcludes' 'special category'' shipments.
9 Includes countries not shown separate^.
SUEVEY OF CUREENT BUSINESS
S-22
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
Hay 1961
1960
March
April
May
June
July
1961
DecemAugust SeptemOctober November
ber
ber
January
Februuary
March
April
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
ValueQ— Continued
Exports of U.S. merchandise, total^
mil.
By economic classes:
Crude materials
Crude foodstuffs
Manufactured foodstuffs and beverages
Semimanufactures 9
Finished manufactures 9
By principal commodities:
Agricultural products, totalcf
of dol_. 1,730.6
do
do
do
do
do
1, 800. 8
1, 787. 9
1. 721. 0
1, 682. 0
1,591.4
1, 594. 6
1, 729. 4
1, 782. 8
1, 777. 7
1,618.7
1, 659. 0
1, 903. 7
201.2
128.6
93.1
281.0
1,026.8
189.1
148.0
93.0
304. 0
1,066.6
195.1
149.1
81.1
310.6
1,052.0
191.8
130.1
90.5
333.2
975.5
196. 5
126. 5
83.3
313.5
962.3
163.7
123. 7
94.5
337.1
872.5
188.5
145.7
96.8
287.8
875. 8
239.3
143.8
102.3
285.2
958.9
283 9
146.9
99.9
286.0
966.9
287. 0
144.1
106.2
292.7
947.6
236.3
132.6
89.0
258.2
902.6
218.8
156.7
88.3
273.7
921.6
224.8
177.2
105. 6
299.9
1,096.3
do
388.1
388.5
382.6
366.5
358.4
327.1
369.4
431.9
495.8
504.2
423.2
426.3
469. 5
do
do
do
do
do
100.3
28.4
137.0
24.4
28.1
87.3
29.2
155.0
27.6
16.5
69. 6
32.2
146.2
24.2
26.3
65. 4
37.3
123.0
22.5
30.8
86.4
31.4
120.2
22.7
22.3
15.9
31.0
115.6
24.4
36.6
26.3
38.8
141. 5
25.4
74.7
59.4
39.4
143.3
28 9
74.8
98.4
27.3
154. 4
25.6
72.3
134.7
31.3
156. 3
27.3
43.1
130.4
26.1
138.2
24.0
24.8
112.1
24.7
161.2
24.4
25.7
113.6
31.8
187. 6
26. 7
31.2
do
1, 342. 6
1, 412. 3
1, 405. 3
1, 354. 5
1,323.6
1, 2G4. 3
1, 225. 1
1, 297. 5
1, 287. 0
1,273.5
1, 195. 5
1, 232. 7
1, 434. 2
Automobiles, parts, and accessories
Chemicals and related products§
Coal and related fuels
Iron and steel products©
do
do
do
do
125.1
144.9
22.5
67.0
121. 5
150.5
33.3
71.6
121.7
142. 5
32.6
84.4
108.7
142.8
36.6
96.8
87.0
145. 2
31.7
83.1
82.4
140. 8
37.5
92.3
78.1
141.8
34.0
70.1
108. 5
144.8
36.1
73.7
119.4
132.9
29.4
71.9
105. 7
140. l
23.4
62.1
93.3
121.3
19.5
53.4
97.6
145.1
19.6
60.3
115.2
158.4
20.1
66.1
Machinery total §0*
do
369.8
384.8
373.0
356. 7
372.5
331. 3
332.3
367.7
377.0
382.1
349.5
374.6
447.2
do
do
do
do
do
15.0
34.2
87.2
26.1
188.6
18.1
36.9
87.8
29.2
192.6
16.2
35. 6
89.6
33.0
178.4
14.6
31.2
75.7
29.9
183.6
11.9
30.1
89.4
32.0
188.1
11.4
29.7
78.5
27.9
165.5
8.3
29.8
80. 2
25.2
168.3
9.4
32.2
85.7
29.5
185.7
8.8
28.4
94.6
37.3
183.4
8.9
30.6
82.6
46.5
184.8
10.6
28.9
82.3
34.5
166.4
13.9
32.7
80.6
35.2
184.5
17.1
35.2
105.6
42.1
210.0
_do.
do
40.5
61.5
44.9
64.4
40.5
57.2
47.1
56.0
40.6
60. 6
37.7
50.7
39.2
52.5
39.9
61.6
37.5
57.4
37.8
58.2
34.9
56.3
32.1
55.4
40.1
66.6
do
1,377.8
1, 261. 3
1, 261. 8
1, 306. 8
1,149.7
1,229.4
1, 160. 1
1, 157. 2
1, 160. 8
1,157.1
1, 123. 6
1, 045. 9
1, 230. 5
do
do
do
58.4
257.4
435.5
45.5
267. 3
381.7
51. 4
245. 9
368.0
46.8
273.8
356.0
44.5
259. 8
308.3
39.9
291.0
307.1
43.6
237.4
323.1
36.5
227.2
340. 4
36.1
220.5
338.2
42.8
227.2
343.4
46.4
215. 6
315.3
43.5
181.4
299.3
52.6
243.9
343.7
do
do
do
255.9
158.7
211.9
225.2
140.7
201.0
254.2
156.2
186.0
268.9
131.1
230.2
234.1
123.9
179. 1
261.4
106.9
223.0
238.5
109.5
208.0
240.9
93.2
219.0
249.1
106.4
210.5
223.2
122.9
197.5
208.4
113.3
224.6
197.8
124.8
199.1
249.2
139.5
201.6
do
do
5.0
12.6
3.4
8.5
4.4
9.7
3.7
9.4
6.0
5.6
1.7
8.0
1.5
9.1
.7
8.2
.5
6.6
1.4
8.0
.7
8.6
.7
9.5
1.8
8.7
do
do
do
do
do
do
11.1
1.1
23.4
98.8
14.5
27.0
14.6
2.0
21.7
100.2
16.3
26.6
7.0
1.7
22.3
96.0
17.5
23.6
9.1
4.1
23.2
103.6
22.8
29.4
18.9
.9
25.2
96.5
14.2
36.9
16.7
1.2
19.6
110.0
23.2
35.2
9.8
1.2
22.5
96.7
17.3
19.5
8.6
1.1
19.5
95.3
15.7
19.9
5.5
.9
20.4
91. 5
15.0
20.3
11.7
1.7
20.7
83.3
22.1
20.0
11.1
1.2
24.1
84.4
12.4
20.9
9.5
.8
21.1
61.7
11.5
22.6
14.2
.9
26.9
82.5
14.1
31.1
do
do
do
do
do
do
46.8
.2
90.6
40.0
1.9
107.8
38.0
.2
77.3
36.3
2.2
88.6
35.1
.2
72.9
27.3
1.2
94.3
29.4
.3
71.1
33.2
2.8
93.8
30.7
.4
68.2
26.6
2.2
66.6
29.3
.3
63.6
34.4
1.8
69.1
22.8
.3
71.3
28.6
1.3
73.8
28.6
.2
75.1
35.9
1.8
72.8
31.1
2
69'. 5
34.0
.6
77.7
27.1
.3
78.8
32.7
2.8
68.6
24.2
.3
69.2
29.1
1.0
60.6
26.7
.3
66.0
24.9
1.0
63.5
32.2
.2
75.6
28.4
1.5
75.2
do
255.8
225.2
254.2
268.8
233.9
260.9
238.3
240. 7
248.9
223.2
208.3
197.8
249.2
do
335.7
307.2
308.2
329.8
267.4
290.9
280.8
278.5
276.8
277.0
295.5
282.3
295.1
do
do
do
do
do
do
do
11.5
45.0
19.8
26.0
51.6
45.4
84.4
1,369.0
9.3
47.7
17.0
18.8
48.2
38.8
84.9
1,250.4
8.6
47.7
13.8
24.0
60.1
40.1
72.5
1,256.0
9.0
61.0
18.4
20.8
47.7
28.1
90.2
1,289.2
8.3
43.1
13.5
17.9
46.6
24.3
68.5
1,139.9
9.1
57.5
24.5
22.1
11.7
33.0
75.9
1,246.4
7.6
54.4
15.7
23.5
7.9
44.3
78 2
1, 159. 3
6.9
48.9
19.8
36.2
7.6
27.8
76.7
1, 156. 9
5.7
45.0
9.1
35.3
6.2
31.3
81.9
1,175.9
7.1
42.6
9.5
24.7
2.9
39.1
83.9
1,151.0
9.2
38. 2
21.2
32.4
3.6
40.7
91.8
1,111 7
7.3
42.1
15.0
20.1
2.7
49.5
90.4
1, 036. 6
8.4
47.8
11.9
25.8
3.0
53.4
79.0
1, 235. 3
do
do
do
do
do
264.0
166.4
132.4
308. 5
497.8
258.6
140.3
138.9
255.1
457.4
259. 4
155.6
144.5
243.3
453.1
281.8
147.7
140.6
268.9
450.2
237.2
121.4
135.4
228.9
417.2
291.1
142. 6
137.6
248.2
426.9
243.6
134. 1
134.5
234.8
412.3
229.9
146. 1
122.4
233.3
425.2
219.2
141.0
139.4
245.6
430.7
231.8
149.2
115.5
242.6
411.8
235.2
153.9
105.8
234.9
382.0
210.3
139.7
110.5
228.1
347.9
237.4
168.1
142.9
265.0
421.9
do
do
do
do
do
do
do
363.6
12.6
95.3
31.4
50.2
23.9
1,005.5
9 8
69.2
99.5
33.2
10.4
29.3
58.1
136. 7
336.5
13.5
75.0
30.4
48.4
17.2
913.9
9.7
52.0
93 2
31*. 4
9.3
25.0
54.5
133.2
341.9
16.7
82.3
26.8
57.9
13.8
914.1
7.0
42.9
96.4
37.9
9.6
27.0
61.0
116.5
338.5
17.5
81.5
26.8
49.9
19.7
950.7
8.4
38.9
100.3
37.7
13.2
29.6
59.3
138.7
299.4
10.7
72.0
24.7
50.0
15.5
840.5
5.8
30.3
95.2
29.6
7.3
25.0
53.3
108.8
344.6
11.6
91.8
32.7
39.5
17.3
901.8
4.9
30.8
102. 1
35.3
11.9
33.1
61.6
125.9
310.6
9.8
87.5
25.2
41.6
14.0
848.7
4.7
35.2
78.7
27.5
8.5
29.0
54.6
122.3
286.3
8.4
93.8
19.6
24.8
13.9
870.6
5.2
31.9
90.0
23.4
9.6
29.1
59.8
119.0
292.3
8.9
83.0
20.4
39.7
12.1
883.7
6.2
30.8
87.5
29.1
6.7
31.2
65.2
135.7
295.4
12.2
82.7
24.1
28.7
11.9
855.6
17.2
28.6
86.9
33.2
9.4
23.1
59.3
141. 6
297.6
18.4
86.6
19.9
23.7
16.7
814.1
12.9
23.3
75.9
26.8
6.4
25.0
53.8
152.0
276.3
16.8
76.6
15.3
37.8
14.4
760.3
11.6
24. 1
70.8
23.9
7.1
27.4
48.1
137.5
345.4
16.3
97.3
15.8
52.6
19.0
889.9
9.0
32.3
89.5
24.8
5.7
27.2
62.0
147.5
Cotton, unmanufactured
Fruits vegetables and preparations
Grains and preparations
Packinghouse products
Tobacco and manufactures^
Nonagricultural products totaled
Agricultural _
Tractors parts and accessories
Electrical
Metal working!
Other industrial
Petroleum and products
Textiles and manufactures
_
General imports total
By geographic regions :
Africa
Asia and Oceania
Europe
Northern North America
Southern North America
South America
By leading countries:
Africa:
United Arab Republic (Egypt Region)
Union of South Africa
Asia and Oceania:
Australia including New Guinea
Colonv of Singapore
India and Pakistan
japan
Republic of Indonesia
Republic of the Philippines
Europe:
France
East Germany
"West Germany
Italy
Union of Soviet Socialist Republics
United Kingdom
North and South America:
Canada
Latin American Republics totaled
Argentina
Brazil
Chile
Colombia
Cuba
Venezuela
__ __
Imports for consumption total
By economic classes:
Crude materials
Crude foodstuffs
Manufactured foodstuffs and beverages
Semimanufactures
Finished manufactures
By principal commodities:
Agricultural products total of
Cocoa (cacao) beans incl shells
Coffee
Rubber crude including guayule
Sugar
"Wool and mohair unmanufactured
Nonagricultural products, total cf
Iron and steel products©*
do
Nonferrous ores, metals, and mfs., to talc?1 --do
Copper incl ore and manufactures
do
Tin including ore
do
Paper base stocks
do
Newsprint
do
Petroleum and products
do
«• Revised.
©Revisions for 1958 and 1959 will be shown later.
1 See similar note on p. S-21.
9 Data for semimanufactures reported as "special category, type 1" are included
with finished manufactures.
cf Includes data not shown separately.
AManuiactures of tobacco are included in the nonagriculttiral products total.
§Excludes "special category, type
1" exports.
©Comprises pig iron, scrap, steel mill products, and certain other iron and steel products; excludes advanced manufactures. Revised exports and data for imports prior to
1958 will be shown later.
*New series; see note marked "0".
SURVEY OF CURRENT BUSINESS
May 1001
S-23
1960
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
March
April
May
June
July
1961
DecemOctober NovemAugust September
ber
ber
January
February
March
April
TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Airlines§
Scheduled domestic trunk carriers:
Financial operations (quarterly totals):
Operating revenues, total 9
mil. of dol__
Transport total 9
_ do
Passenger
do
Property
do__
U S mail
do
Operating expenses (incl depreciation)
Net income (after taxes)
do
do
Operating results:
Milesflownrevenue
.
thousands..
Kxprcss and freight ton-miles
flown
do
Mail ton-miles
flown
do _
Passengers originated revenue
do
Passenger-miles flown, revenue
millions
452.9
448.4
406.8
28.4
10 9
500. 0
496.3
451. 8
29.1
11.4
529.4
525. 6
478 8
30.6
11 1
1491.6
486.1
436 1
31.6
13 4
474.7
13.7
481.7
8.6
496 7
10.9
1d
d
485 3
1.5
62, 397
30, 937
11,047
3, 670
2,284
61, 874
30, 280
10, 857
4,019
2,505
61, 498
30, 236
10, 364
4,002
2,444
59, 825
30, 890
10, 512
4,183
2,720
63, 132
29, 109
10, 030
4 013
2,706
64, 034
32, 474
10, 786
4,166
2,745
59, 057
35, 169
10, 917
4, 037
2,547
59, 757
35, 994
11,257
3, 965
2,487
55, 199
32, 691
11,043
3 518
2 129
56, 971 ' 56, 335 p 43, 332
35 736 ' 30, 459 p 27 001
16, 479 ' 11, 152 p 10, 388
3 504 f 3 449 p 2 828
2,284
2 348 p 1 818
_thous. of dol _
do
32, 782
12, 634
30, 815
11, 003
30, 308
10, 737
30, 923
11 412
25, 233
5,766
31, 618
11, 731
31, 867
10, 675
31,300
10 621
30, 961
10 552
35, 458
12 111
27 822
6 983
27 181
6 783
cents
millions
mil. ofdol__
18.7
'683
123.8
18.8
652
121.9
18.8
647
118.9
18.8
620
115.0
18 9
554
108.1
18.9
584
113.3
18 9
610
110.4
19.0
634
122.2
19 1
624
121.1
19 1
649
125.6
19 3
614
116 8
19 3
582
110.4
19 4
659
Express Operations
Transportation revenues
Express privilege payments
Local Transit Lines
Fares average cash rate©
Passengers carried revenue©
Operating revenues©
_
Class I Motor Carriers (Intercity)
Carriers of property (quarterly totals):
Number of reporting carriers
Operating revenues total
Expenses total
Freight carried (revenue)
mil. of dol
do
mil of tons
949
1, 182. 7
1, 159. 9
72 4
944
1, 193. 9
1, 153. 0
69.8
935
1,207.4
1,161.3
68 9
mil. of dol
do
millions
139
92.3
90.9
51.4
140
115.8
99.7
57.5
140
140.9
110.6
61.9
Carriers of passengers (quarterly totals):
Number of reporting carriers
Operating revenues, total
Expenses total
Passengers carried (revenue)
139
111 3
101 3
55 7
Class I Railroads
Freight carloadings (A. A. R.):cT
Total cars.
_
Coal
Coke
...
Forest products
Grain and grain products.
Livestock
Ore _
Merchandise, 1 c 1
Miscellaneous
...thousands..
do
do..
do
2,898
526
58
195
' 2, 492
'431
'39
'101
2, 559
430
33
157
2,514
451
28
156
2,847
357
29
180
2, 385
420
22
160
2,274
408
20
152
3,189
546
30
193
2,203
388
23
135
2,401
477
26
152
1,922
382
21
129
1,955
376
21
134
2,507
405
28
175
9 iQf,
365
23
146
do
do__ _
do
do
do
245
21
106
192
1,555
'187
'17
'199
' 150
' 1, 308
175
20
289
146
1,308
203
15
290
138
1,232
344
16
329
167
1,425
234
16
239
140
1,154
198
26
202
133
1,136
329
50
233
179
1,629
255
26
90
129
1,156
232
20
59
138
1 296
211
15
44
109
1 Oil
222
11
48
118
1 025
261
18
72
158
1 390
196
17
65
119
1 176
110
87
146
126
111
88
126
130
109
90
107
124
102
83
89
121
97
66
78
120
99
86
72
123
97
89
68
118
104
90
79
118
99
83
76
115
96
82
65
113
99
82
65
121
96
76
64
113
96
67
69
113
98
75
74
117
150
38
252
24
121
150
34
185
24
125
141
39
185
23
123
149
31
163
22
113
169
31
150
22
110
150
30
139
22
108
135
39
120
21
106
188
47
97
22
113
186
36
97
21
109
142
30
137
19
107
156
28
162
19
108
160
25
172
19
106
159
3°
174
157
34
84
19
112
847. 9
723. 7
52 2
823. 6
698.1
51.0
829. 5
705. 1
51. 7
824.2
694 7
60.2
759 1
634 1
60 6
809.0
679.4
60.5
754 4
642 9
44 2
815 8
695 4
46 5
756 5
638 0
46 5
731 5
588 1
60 7
699 2
584 5
52 8
668 3
559 6
49 5
761 3
642 6
50 1
658. 6
634.1
648.3
644.0
628.7
646.9
608.3
624 8
603.4
613 6
596 4
573 7
127.8
61.2
44.2
124.4
65.1
48.2
120.0
61.3
47.3
123.1
57. 0
43 1
106.4
24.0
9.6
117.7
44.4
29.9
111.6
34.5
25 9
121.2
69.8
54 8
106.1
47.0
33 9
83.6
34.3
52 7
106.9
d
d
51, 597
1.441
1,654
51, 357
1.398
1,675
52, 664
1.386
1,691
49. 687
1.422
2,054
46, 752
1.415
2,207
49, 219
1.404
2,132
48, 566
1.369
1,480
51,923
1.367
1,505
46, 204
1.420
1,452
42, 835
1 393
1,960
12, 067
9, 967
2,100
13, 865
11,512
2,353
15, 198
12, 309
2,889
14, 960
12, 068
2,892
15, 104
12, 009
3,094
15,095
12, 152
2,943
14, 716
11, 900
2,816
14, 876
11, 854
3,022
13, 573
10, 788
2 785
13, 177
10,612
2 565
5,609
1,256
4,988
1,080
5,595
1,420
5,193
1,268
5,583
1,097
5,361
933
4 843
981
5,065
1,024
5 161
997
5 046
970
__
Freight carloadings, seas. adj. indexes (Fed. Res.):
Total
1935-39=100
Coal
do
Coke
do__
Forest products _
do
Grain and grain products
Livestock .
Ore . _
Merchandise, l.c.l
Miscellaneous.
_
__
Financial operations:
Operating revenues, total 9 _
Freight
Passenger ...
__
..
_
do _
do
do
do
do
mil. of dol
do
do
Operating exnenses
do__
Tax accruals, joint facility and equipment rents
mil. of dol.
Net railway operating income
do
Net income (after taxes)
do
Operating results:
Freight carried 1 mile
mil. of ton-miles
Revenue per ton-mile _
cents
Passengers carried 1 mile (revenue)
millions
r
T
d
4-1
90
108
99.4
4.8
32.1
4 868
621
5 675
937
79
Waterway Traffic
Clearances, vessels in foreign trade:
Total U.S. ports
thous. of net tons..
Foreign vessels
do
United States vessels
do
Panama Canal:
Total
In United States vessels
thous. of long tons
do
5 072
875
'Revised.
p Preliminary.
<* Deficit.
1 Revisions for 4th quarter 1959 (mil. dol.): Operating revenues, 461.9; net income, 4.9.
§ Data beginning 1959 include total domestic operations intra-Alaska and intra-IIawaii; for these States, figures for mail revenues exclude U.S. mail subsidies.
9 Includes data not shown separately.
©Revisions for 1958-October 1959 are available upon request.
cfData for March, July, October, and December 1960 and March 1961 cover 5 weeks; other months, 4 weeks.
SUEVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
May 196]
1960
March
April
May
July
June
1961
DecemOctober NovemAugust September
ber
ber
January
February
March
April
TRANSPORTATION AND COMMUNICATIONS— Continued
TRANSPORTATION— Continued
Travel
Hotels:
Average sale per occupied room _ _ _ __ dollars Rooms occupied
_
„ __
percent of total
Restaurant sales indexf- - _ _ same month 1951=100 _
Foreign travel:
U S citizens- Arrivals
_ _ _ thousands
Departures
do
Aliens* Arrivals
- do
Departures
do. Passports issued and renewed
do
National parks, visits§
_
_ __ do
Pullman Co.:
Revenue passenger-miles
_
millions
Passenger revenues
__thous. of doL_
68
124
9.38
67
115
8.73
69
125
9.26
67
117
8.67
57
113
9.60
65
112
9.47
67
114
10.04
72
114
9.62
63
107
8 72
50
110
8.91
63
111
9 08
64
113
8 70
64
118
144
146
90
73
100
608
147
171
99
79
119
1,131
158
178
111
91
114
1,805
178
259
110
111
98
3,748
222
256
123
110
69
6,434
283
192
139
100
64
5,996
220
147
146
106
49
2, 574
163
136
125
98
40
1,778
132
107
102
80
37
886
120
126
94
97
35
508
56
516
64
569
103
729
317
5, 130
284
4,581
251
4,011
299
4,745
301
4,734
281
4,416
207
3,237
249
3,853
214
3,507
307
5,060
316
5,259
297
4,981
692.8
387.8
239.9
422.8
110.9
62.8
688.9
389.2
233.9
408.2
117.0
63.1
696.6
390.8
239.3
416.9
116.5
63.4
700.1
392. 8
240. 1
420. 5
116.6
63.5
689. 1
388.1
232.7
410.4
116.6
63.8
712.8
393. 3
251. 4
426. 6
121.0
64.0
704.0
396.3
238.5
424.9
118.2
64.3
711.0
402.3
239.8
424.3
122.5
64.6
707.2
402.4
235.4
424.4
120.5
64.7
723.0
405. 7
247.5
446.6
118 1
65.0
718.1
407.1
240.9
428.7
120 6
65.1
701.1
403.3
227.0
417.4
117.8
65.3
22,354
19, 146
1,984
21,356
18, 543
1,619
21, 825
18, 975
1,643
22, 626
19, 798
1,647
20, 517
20, 159
22, 667
20, 050
1,533
23, 042
20, 282
1,741
22, 424
19, 957
1,610
21,735
19, 794
1,120
22, 939
20, 640
1,621
21,713
20, 206
216
20, 727
18,866
590
3,346
2,534
452
2,970
2,513
157
3,122
2,612
189
3,000
2,557
155
2,878
2,301
258
2,977
2,527
153
2,955
2, 513
159
2,919
2,480
141
2,920
2,426
190
3,105
2,282
478
3,011
2, 479
220
2, 766
2, 308
158
4,365
3,394
823
4,007
3,142
706
4,200
3,282
760
4, 227
3,425
637
3,936
3,338
454
4,193
3,394
657
4,328
3,348
838
4,245
3,318
802
4,145
3,313
744
4,655
3, 530
864
4,275
3,395
737
4, 051
3,264
651
8.61
102
COMMUNICATIONS
Telephone carriers :
Operating revenues 9
Station revenues
_
Tolls message
Operating expenses, before taxes
Net operating income
Phones in service end of month
mil. of dol
.- do
do
do_ _
do
millions
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_
Opp rating expenses incl depreciation _
do. _
Net operating revenues
do
Radiotelegraph :
Operating revenues
do
Operating expenses incl depreciation
. do
Net operating revenues
do__
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production: J
Acetylene
mil. of cu.f t
Ammonia, synthetic anhydrous (commercial)
thous of short tons
Calcium carbide (commercial)
do
Carbon dioxide, liquid, gas, and solid
___do _
r
1,148
1,026
1,082
926
938
976
942
976
966
998
989
423.4
100.8
434.0
100. 5
84.6
407.9
92.4
95.6
382.3
380.3
364.8
387.3
408 6
429 5
411 8
66.2
416.2
96.6
73.3
97.6
100.0
89.3
77.0
66.0
62.6
62.8
57.0
69.2
-do _
do
397.2
94.6
383.9
93.5
395. 4
90.0
377.1
76.8
384. 9
77.7
390.5
79.6
371.1
78.4
390.7
84.2
377.1
80.8
369. 0
73 3
368.8
72.3
333.4
r 67. 1
373 8
74.9
Nitric acid (100% HNOs)
do
Oxygen (high purity)
mil of cu f t
Phosphoric acid (100% PjOg)
thous. of short tons
Sodium carbonate (soda ash), synthetic (58% Na-aO)
thous. of short tons
Sodium bichromate and chromate
do
Sodium hydroxide (100% NaOH)
do
Sodium silicate (soluble silicate glass), anhydrous
thous of shor t tons
Sodium sulphates (anhydrous, re fined; Glauber's salt;
crude salt cake)
thous of short tons
Sulfuric acid (100% H.SOO
do
304 5
5,135
183.9
275. 5
4,778
183.0
265 1
4,804
189. 9
234 6
4. 488
171.2
242 4
4 220
159. 1
255 3
4 404
184.2
281 0
4 601
j 65. 3
288 0
4,594
183.4
300 2
4,504
175.0
301 0
4 423
170 1
285 8
4 794
192.6
272 5
4, 643
179.9
295 4
5 293
205. 6
415.9
10.1
428.3
399.0
11.1
407.7
392.2
11.2
422.5
370. 1
10.9
402.9
371.3
10.9
406.5
388.2
9. 0
416. 4
364.8
9.6
388.9
383.6
10.4
410.0
360. 0
8.8
403.4
341 7
8.3
393 4
339.8
9.9
386.9
336.0
8.5
352.8
375. 5
10.3
399.8
49.1
50.3
44. 2
49.7
43.2
37 1
'36.3
41.7
Chlorine, gas
_ _
Hydrochloric acid (100% HCl)
Organic chemicals:^
Acetic acid (synthetic and natural), production
thous of Ib
Acetic anhydride, production
_
do
4cetylsalicylic acid (aspirin) production
do
Alcohol, ethyl:©
Production^
_ _ _ _ _ _ _ thous. o f proof g a l
Stocks, end of month^
do
Used for denattiration
do _ _
Withdrawn tax-paid^
_ _
_ _ __ do
Alcohol, denatured:©
Production
_ _ _ _
thous. of wine gal_.
Consumption (withdrawals)
do
Stocks end of month
_
do
95.3
1,639. 1
46.3
34.6
28.6
45.4
92.4
89.5
1, 556. 4 1, 614. 2
87.6
1, 495. 4
87.6
1, 336. 0
85.6
1, 403. 8
71,165
88, 703
1,696
64, 235
82, 410
1,808
60, 328
85, 665
1,733
59. 602
77, 574
1, 667
62, 878
81, 491
2,022
61,563
80, 060
1,887
59 588
74, 378
2, 163
i 43, 686
54, 943
127, 911 131,653
43,
132
48, 077
1
3, 993
5,000
59, 228
127, 020
46, 473
5, 583
61, 943
129,532
41, 724
7,020
53, 103
130, 8f*9
43, 002
6,157
52, 372
134,505
48, 277
4,050
51,250
137, 948
50, 727
3,970
86.5
89 0
1, 350. 3 1, 491. 1
91.6
88 5
1, 433. 8 1,428.4
r
35. 1
r
90. 7
1 . 494. 0
848
979
400 6
463 3
' 83.3
95.7
1, 388. 7 1,558.0
67, 137
99, 010
2,073
59, 955
89,193
2,056
67, 261
98, 308
1,992
65, 844
94, 200
1,906
43, 492
26, 506
44,112
746
45, 335
28,410
47,015
647
49, 057
33, 235
46, 504
660
47, 884
33, 259
41, 620
706
23, 674
25. 357
3,729
25, 219
23, 170
5,723
24, 880
27, 276
3,380
22, 409
22, 094
3,721
23,154
23, 611
3,281
25, 861
25, 826
3,503
24, 974
23, 181
5,331
22,421
23, 861
3,943
23, 101
21, 271
5,798
25, 853
26, 482
5,252
27, 646
25 317
7,665
8,344
13, 617
9,849
9,688
13, 393
7,338
7,946
13, 748
5,895
7,953
12, 444
7, 705
7, 357
13,531
7,648
8,413
14, 523
8,232
6, 958
13 750
7,810
6,999
14, 486
6,706
7,454
14, 283
7,103
7,727
14 187
5,775
6,393
15 170
5 985
6,809
13 428
5,841
107, 262
Ethylene glycol, production
do
156, 861
Formaldehyde (37% ECHO), production
do
Glycerin, refined, all grades:
27, 700
Production
_
. _ _
___
_do
Stocks, end of month
do _ _ 42, 300
Methanol, production:
202
Natural
thous. of gal__
25, 523
Synthetic
do
Phthalic anhydride, production.
thous. of l b _ _ 36, 550
96, 402
147, 933
97, 062
138, 955
100, 626
143, 938
] 12, 629 121, 499
110, 367 148, 282
115, 627
142, 755
111,679
149, 370
104, 939
135, 529
108, 792
129, 894
119 512
127,116
100, 973
124, 868
24, 800
43, 100
26, 600
46, 500
23, 600
229,200
21,000
27, 400
24, 300
29,100
24, 500
26, 600
24, 500
26, 500
22, 900
28, 100
20, 900
30, 000
23 900
32, 800
20, 200
33, 200
189
22, 074
30, 858
199
24, 502
35, 068
199
21, 653
31, 989
187
25, 300
30,612
156
26, 082
33, 127
137
26, 502
29, 169
183
25, 235
29, 924
Creosote oil, production..
DDT production
Ethyl acetate (85%), production
____thous. of gal_.
thous of Ib
do
1
54, 500
70, 589
1,718
' 44, 876 51,725
136, 523 139, 885
39, 855
50, 327
r 4, 821
4,884
21, 427
23 353
5, 810
T
27,012
26 876
6,057
23 300
33 700
168
171
164
175
25 051
27 442
27 783
23 325
26, 520
28, 850 r 26, 241
25, 295
r
2
Revised.
<* Deficit.
1 See note "V.
Data beginning June 1960 are confined to producers' and warehouse stocks (consumers' are not included).
t Revised series (first shown in October 1959 SURVEY), reflecting change in comparison base period; monthly averages (1929-59) and monthly data for 1953-59 appear on p. 19 of the
January 1961 SURVEY.
§ Beginning with the October 1959 SURVEY, the figures include visits to Mount McKinley, Alaska and Hawaii National Park, Hawaii. Data beginning January 1960 reflect revised definitions of visits.
9 Includes data not shown separately.
{Revisions for 1957 appear on p. 24 of the April 1960 SURVEY; the 1958 data shown therein have been further revised. These
revisions, as well as those for January-August 1959, will be shown later.
cPData (except for alcohol) are reported on basis of 100-percent content of the specified material unless otherwise indicated.
©Revisions for July 1959-January 1960 will be shown later.
1 Effective July 1960, data include amounts classified as "spirits."
June 1960 data on comparable basis (thous. gal.): Production, 53,137; stocks, 129,041; withdrawn tax-paid, 5,462.
SURVEY OF CURRENT BUSINESS
Mav 1!H>1.
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
S-25
1961
1960
March
April
May
June
July
August
Septem- October Novem- December
ber
ber
January
February
March
April
CHEMICALS AND ALLIED PRODUCTS—Continued
FERTILIZERS
Consumption (10 States) §
Exports, total 9 t
Nitrogenous materials - _ _
Phosphate materials
Potash materials
thous of short tons
short tons
_ do do
do
1, 146
547, 146
36, 063
413, 006
83 988
2. 205
497, 862
26. 575
425, 667
31 353
1 431
641, 697
46. 888
522 742
60 621
890
694, 324
42, 978
587, 210
49 561
345
630, 124
46,690
501, 920
67 706
337
216
613, 804 617, 086
38, 694 73, 801
496, 865 446 209
70 879 78 016
380
669 485
68, 976
467, 108
104 714
392
345
386, 033 503 104
37, 586 42, 309
274,211 370 753
49 269
70 499
349
406, 754
18, 595
295, 550
83 530
495, 519
18, 097
379, 478
82 665
439, 200
40.019
321, 135
67, 041
Imports, total 9 t
Nitrogenous materials total 9
Nitrate of soda
Phosphate materials
Potash materials
--
- --do _
do
_ do^_
do
do
367, 895
188 100
58, 098
6 918
41,117
294, 711
163, 619
29, 535
9 863
38, 932
274, 835
131 608
45, 865
15 041
39, 963
182, 445
99, 751
63, 822
25 386
22, 534
165, 547
74, 851
44, 621
6 458
63, 784
141, 708 235, 645
76 224 141 781
16, 312
53, 628
16 654
14 380
14, 083 29, 817
180, 244
78, 456
0
18, 488
42, 558
115,762
46 549
0
8 979
23, 502
126. 269
62 572
0
8 734
14, 035
216. 164
119,168
10, 51 2
7,478
44, 040
260, 664
134, 794
58, 774
8, 583
54, 366
359, 460
193. 746
53, 234
20 753
61,085
Potash deliveries
- do
Superphosphate and other phosphatic fertilizers (100%
P 2 0 5 ):t
Production
short tons
Stocks end of month
do
232, 181
356, 235
254, 146
194,537
46, 769
104, 888
103, 745
1«3, 245
118,977
272 301
125 978
177 277
282, 1 34
252, 501
318, 782
243 929
223, 136
256 074
224, 376
216 938
306 264
172 910
367, 655
191 627
372, 897
185 533
360 517
219 677
372, 909
236 812
425, 469
219 806
435 087
244 626 '240 069
442, 701 r 426, 787
266 180
352 102
128
94 301
165
86 103
195
88, 276
238
80, 206
186
79, 907
133
70, 391
139
67, 046
66
73, 887
r
r
r
r
r
r
1
1
116.0
65.7
50. 3
125.5
72.8
52.7
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments:
117
Black blasting powder
thous. of Ib
76, 671
High explosives
_ _ _ _ _ _ _ do Paints, varnish, and lacquer, factory shipments: t
r
Total shipments
_
_ mil. of dol « 146. 6
« T 81 8
Trade products
do
a r
64. 8
Industrial finishes
do
Sulfur (native):
437
Production
thous. of Ion? tons
3,810
Stocks (producers'), end of month
_ do
50
87, 071
69
76, 781
r
r
r
160. 0
95 3
64 7
172. 9
104 6
68.3
178. 8
107 3
71 5
155. 5
96 2
59 3
r
r
r
424
3, 766
420
3,720
394
3, 695
4,743
9,611
249
3,442
7,467
4, 167
7, 494
245
51 520
79, 436
31 576
108, 263
35, 224
43 140
72 840
30 903
98, 122
33, 003
12, 246
_ do _
16, 435
do
114, 566
- do
_ _ do . _ _ 31, 232
11, 366
16 034
114,019
31,404
do
do
do
do
do
Rosin modifications
Polyester resins
Polvethvlene resins
Miscellaneous (incl. protective coatings)
81
87, 324
T
r
r
SYNTHETIC PLASTICS AND RESIN
MATERIALS
Production:
Cellulose acetate and mixed ester plastics:
Sheets, rods, and tubes
thous. of lb__
Molding and extrusion materials
do
Nitrocellulose sheets rods, and tubes
- do _
Phenolic and other tar acid resins
Polvtyreno
TJrea and molamine resins
Yinvl resins
A Ikvd resins
42
84,515
r
r
r
168. 0
102 7
65. 3
149 6
88 4
61 2
138. 9
78 2
60 7
126. 2
69 5
56 7
109. 4
r
T
r
r
T
r
r
r
420
3,734
454
3,719
373
3, 655
390
3, 561
400
3,553
477
3,669
400
3,698
357
3,703
4,643
8, 055
3,781
6, 854
3,844
7,730
188
4, 763
7, 655
51
4,407
7, 109
72
4,073
7,124
85
4, 761
6,137
74
3, 734
6, 652
89
3, 709
6, 305
73
43 713
73, 536
29 540
97, 877
32 297
43 75?
74, 407
28 435
93, 688
34, 126
30 830
72 308
18 126
83, 926
28 260
49 061
76 211
27 718
94, 675
30 103
43 879
73' 316
29 036
97'. 791
30, 335
42 o'>6
76 152
27 2S4
104, 584
80 342
40 046
73 978
25 926
98, 007
26 569
39 323
71 256
23 829
86, 709
25 470
40 764
Ofi, 505
23 987
87, 691
25, 304
40 574
62 685
22 387
81, 149
24, 562
11.596
15,359
120, 159
30, 238
11,460
13, 861
102, 264
31,314
10 060
9 865
103 695
26, 549
10 883
11 549
106 950
30, 095
11, 154
10 822
109, 339
30, 951
10, 758
12 128
112,886
33, 028
8,716
11 196
114 135
30, 449
8, 552
10 963
119 675
29,411
9.308
9, 599
114,482
r
31,611
8, 801
12 067
108 309
31,042
r 00 9
48 5
454
3,776
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total J
mil. of kw.-hr
Electric utilities, total
do
By fuels
__
_
_ do By waterpower .
_
do- .
72, 110
64, 301
51. 012
13, 289
66, 220
58, 717
45, 478
13, 239
67 982
60 344
47, 308
13, 036
69, 304
61, 920
49, 474
12, 447
70, 694
63 528
51 636
11, 893
74, 613
67 255
55, 138
12, 117
69, 628
62 581
51, 141
11, 440
69
62
51
10
485
252
759
493
68, 271
61 410
50 649
10, 761
72, 997
66 202
54 941
11,261
73, 547
66 559
55 803
10, 756
65
59
49
10
52, 047
1 2, 254
47, 851
10, 867
48, 932
11 412
50, 763
11, 157
51, 614
11,914
55, 178
12 077
51, 575
11 006
51, 257
10 996
50, 431
10 979
54, 169
12 033
54, 408
12 152
48, 462
10 801
52, 444
12 196
do
do
__do
7,809
7, 461
348
7. 503
7,158
345
7,638
7 284
354
7, 384
7 060
324
7, 166
6 897
269
7,358
7 109
249
7 047
6 811
'236
7 233
6 995
238
6 862
6 599
263
6 794
6 541
254
6 987
6 720
267
6 484
6 224
259
7 101
6 777
324
Sales to ultimate customers, total (EEI) . _ _ d o
Commercial and industrial:
Small light and power _
do
Large light and power ..
_..
_ _ - do
55, 965
54 176
52, 830
54 108
55, 321
57 513
57 344
55 166
54 201
55 973
59 436
58 101
2 8, 801
2 27, 124
8.696
26, 584
26, 781
9 546
26 942
10,418
26, 134
10 769
27 558
10 784
27 269
9 833
27 108
9 318
26 504
9 421
26 336
10 137
27 387
9 944
20 856
468
16, 746
941
532
1,309
43
410
15, 592
1 076
488
1 281
49
376
14, 078
1 033
455
1,272
53
363
14, 232
1, 185
436
1,343
61
344
15, 157
1 440
468
1,292
68
364
15 390
1 534
478
1 354
67
323
15 639
1 364
512
1, 385
67
380
14 795
1 017
562
1 415
59
386
15 103
809
601
1 429
50
462
16 881
730
631
1 457
56
457
19 430
445
18 839
623
1 325
77
560
1 386
79
929.5
908 8
891 9
915.7
936 8
967 8
977 4
942 0
927 3
955. 3
1 010 9
997 6
Privately and municipally owned utilities— -do
Other producers (publiclv owned)
do
Industrial establishments, total ..
By fuels
By waterpower
__
Railways and railroads
do
Residential or domestic
do _ _
Rural (distinct rural rates)
do
Street and highway lighting. _ _
do__ _
Other public authorities. ._ ._. __
do
Interdepartmental
do
Revenue from sales to ultimate customers (Edison
Electric Institute) _
mil. of dol
(3)
746
263
018
245
71
64
50
13
742
641
765
876
(3)
GAS
Manufactured and mixed gas (quarterly) :J
Customers, end of quarter, total 9 __ _ thousands. _
Residential
do
Industrial arid commercial
._ _ _
_ do
Sales to consumers, total 9 Residential
Industrial and commercial
.
mil. of therms
do
do
Revenue from sales to consumers, total 9
Residential
Industrial and commercial
mil. of dol
do
do
2,509
2,341
166
2,161
2 020
139
2 287
2 141
145
? 126
1 985
140
941
732
202
504
341
148
300
168
US
551
397
150
116.8
94.0
22.3
64.3
48 8
15.0
43 0
30 3
12.2
69 1
53 7
15.1
2
'Revised.
* Beginning January 1961, trade sales lacquers (formerly shown with industrial finishes) are3 included under trade products.
Data beginning March 1960 are not comparable with those for earlier periods because of reclassification of some companies from small to large.
Effective January 1961, data formerly reported as rural have been assigned to
other appropriate classifications.
.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): 1960—January-March, 222; April-June, 370; July-September, 75; October-December, 94.
9 Includes data not shown separately.
{Revisions will be shown later as follows: Fertilizer imports (July-September 1959); superphosphate, etc. (January 1958-April 1959); paints, etc.
(January 1958-September 1959); electric power production (January-November 1959; for 1958 revisions, see p. 20 of the January 1960 S URVEY); manufactured and mixed gas (1st and 2d quarters
of
1958
and
1959).
°
Revisions
for
January
and February 1960, respectively (mil. dol.): Total, 127.5; 130.2; trade products, 68.3; 70.4; industrial finishes, 59.2; 59.8.
SURVEY OF CURRENT BUSINESS
S-26
M;H-
1960
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
March
April
May
June
July
1961
August
SeptemNovem- DecemOctober
ber
ber
ber
January
February
March
April
ELECTRIC POWER AND GAS—Continued
GAS— Continued
Natural gas (quarterly) : 9
Customers, end of quarter, total
Residential
Industrial and commercial
Sales to consumers total
Residential
Industrial and commercial
...thousands..
do _
do
30, 306
27, 847
2 425
30. 459
28.051
2,374
30, 289
27, 934
2 321
31.175
28, 658
2 477
mil of therms
do
do __
30, 118
13, 986
14,918
21, 054
6, 550
13, 570
16 286
2, 523
12, 927
22 353
7.482
13, 773
mil. of doL. 1,918.4
1, 224. 4
do
653. 8
do
1,214.2
601. 3
523. 0
814.4
332. 7
455.8
1,360.9
759 1
565.0
Revenue from sales to consumers, total
Residential
Industrial and commercial
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
8 138
Production
thous of bbl
6,960
Taxable withdrawals
do
10.515
Stocks end of month
do
Distilled spirits (total) :t
25, 893
Production §
.thous. of tax gal
Consumption, apparent, for beverage purposes©
19, 464
thous. of wine gal.
1 4, 659
Taxable withdrawals§
thous. of tax gal_
915, 774
Stocks end of month§
do
2.827
Imports
thous of proof gal
Whisky:
16,914
Production
thous. of tax gal
Taxable withdrawals
_
do_ ..
7,153
798, 892
Stocks end of month
do
Imports
_ .. ..thous. of proof gal
2,443
Rectified spirits and wines, production, total}
6,978
thous. of proof gal__
5,472
Whisky
do
Wines and distilling materials:}
Effervescent wines:
437
Production
thous. of wine gal _.
224
Taxable withdrawals.
_
do
2,317
Stocks end of month
do
63
Imports
_ _ _
do Still wines:
2, 746
Production _ _ ... _
do _
15,029
Taxable withdrawals
do
178, 471
Stocks end of month
do
837
Imports
.
_ ._ _ ..do. _ _
2,376
Distilling materials produced at wineries
do
8,187
7,435
10, 789
9,336
8,290
11,317
9,860
9,129
11, 458
8 928
8,603
11,241
9,173
8,989
10, 887
22, 164
7 332
7, 519
10, 229
6 773
6,571
10,017
6 225
6,411
9,447
6 677
6, 552
9,126
r
6 816
5 828
9.738
r
6 210
5 573
10 004
8 327
7 355
10 507
22, 904
23, 844
i 9, 126
10, 319
11,921
16, 351
16, 751
15 079
16 141
18, 203
14,117
921,318
2,629
19, 090
14, 121
928, 377
2, 936
19, 521
16, 748
14,718
i 7, 644
931, 509 '835,782
3,044
2. 205
18, 303
9, 542
833, 699
2, 820
18, 633
10,256
832, 603
3,320
21,423
12, 708
832 656
4, 356
24, 718
11,554
834 998
5,088
27, 743
7,699
840 364
3,752
15, 892
15, 069
7
T
7. 449
8, 652
846 057 r 849 979
2 193
2 269
9, 969
853 798
2 910
15. 007
6,874
804, 642
2,313
14, 787
6,363
810, 795
2, 569
12, 934
6.519
813, 720
2,718
6,874
5, 059
814,039
1,952
7, 285
6, 642
812, 166
2,546
8,748
7,704
810, 746
2,954
11, 162
9,981
808, 816
3,843
12, 927
8,776
810, 537
4, 544
12,609
5,752
815. 499
3,333
13,103
5,559
821
301
r
1 901
12, 891
6,498
825 466
2. 014
13 070
6. 930
829 421
2 542
6, 552
4,990
6, 845
5,247
7,373
5, 601
5, 556
4,382
6, 594
5, 064
7,788
6, 062
10, 125
8, 137
8, 871
7 098
5, 739
4 168
5,057
3 579
6,390
4,908
6, 785
5 163
375
289
507
284
217
144
2,520
2,774
252
222
267
272
236
399
274
481
2,797
2,743
2.547
2,309
75
79
2,712
100
1, 854
12 460
164, 495
1, 846
11.929
155, 874
2, 067
12,039
142, 575
1,284
9,044
132, 309
586
56, 859
13 284
168, 517
2,366
717
1,577
4,789
736
70, 470
13, 349
226, 129
1,835
800
4, 466
11, 464
125, 733
17, 967
117, 035
thous. of lb__ 131. 405
do
64, 865
.588
dol. per lb__
129, 740
86, 148
.589
148, 705
119, 117
.588
143, 000
162, 731
. 586
116,985
179, 861
.586
97, 990
169, 325
.598
thous. of lb__
do
121,410
78, 645
131,915
92 775
156,485
113,925
157,035
114,030
135,255
97,150
Stocks, cold storage, end of month, total
do
American, whole milk
do
Imports _ _ _
_ _
do
Price, wholesale, American, single daisies (Chicago)
dol. per lb._
Condensed and evaporated milk:
Production, case goods:}
Condensed (sweetened)
thous. of l b _ _
Evaporated (unsweetened)
do
Stocks, manufacturers', case goods, end of month:
Condensed (sweetened)
thous. of l b _ _
Evaporated (unsweetened)- _ __
do _
Exports:
Condensed (sweetened)
_ _
do
Evaporated (unsweetened)
do
Price, manufacturers' average selling:
Evaporated (unsweetened). _ _ _ _ _ dol. p e r case..
Fluidmilk:
Production on farm si
mil. of lb__
Utilization in manufactured dairy productsi__.do _.Price, wholesale, U.S. average}
dol. per 1001b._
Dry milk:
Production:}
Dry whole milk
._ thous. of l b _ _
Nonfat dry milk (human food)
__do
Stocks, manufacturers', end of month:
Dry whole milk
do
Nonfat dry milk (human food)..
do
Exports:
Dry whole milk _
do
Nonfat dry milk (human food).
do
Price, manufacturers' average selling, nonfat dry
milk (human food)
.
dol. perlb..
261,835
228, 222
5,245
275,912
240, 950
4, 738
307, 523
267, 071
4, 670
345, 165
304,111
4, 494
.415
.404
.392
6, 115
169, 300
6, 675
202 600
5, 517
95, 491
3,447
8, 216
398
243
15 035
314
433
15,405
2. 161
431
231
357
161
171
136
2 338
2 506
58
42
2 627
7, 347
12 987
208, 765
1,034
18, 139
2. 769
11 765
200. 879
2, 816
11 885
188 573
2 559
15 283
177 229
125, 569
12, 211
14 834
219, 422
1,270
29, 789
3,727
2, 865
1, 293
83, 985
135, 540
.618
94, 600
116, 015
.616
93. 620
90, 587
.623
109,200
76, 808
.619
121,810
75. 707
.611
116, 520
80, 289
.611
120.635
84, 135
108, 905
72, 375
110, 585
71, 235
106, 985
67, 925
121, 180
77, 990
122,625
84, 275
114, 955
77 830
360, 107
315, 728
3. 430
358, 914
317, 946
4,382
346, 189
304, 237
5,045
333,011
291, 735
7, 115
328, 804
287, 718
8,121
332,594
292,011
7,408
327,633
287,030
7,259
332, 401 '341, 084
293. 505 r302, 349
6. 822
5, 160
361. 980
319. 7P2
.392
.392
.401
.430
.438
.438
.438
.434
.412
.418
.422
6, 140
264, 000
6, 225
245, 600
5, 880
207, 200
5, 860
203, 300
5, 81 5
171, 000
6,085
160, 500
5, 725
139 200
4. 806
139,700
6. 220
142 300
5, 685
131 700
6. 260
181 000
5, 436
112, 475
6, 435
206, 758
6, 255
261,179
4, 856
302, 101
5, 467
364,741
5, 484
341, 169
5, 835
319, 174
6, 262
293, 379
6, 533
218.315
5. 545
154, 947
5,100
125, 468
5. 676
83. 145
4, 683
5. 608
3, 664
5,918
3, 996
9. 375
3.246
14 035
3,902
6, 773
3,288
6,220
3,213
11, 141
4,721
8 168
2, 546
13 990
3 329
Q 405
5 197
3 789
4 608
4 359
2, 452
777
882
71
51
38
60
977
697
651
373
225
58
905
DAIRY PRODUCTS
Butter, creamery:
Production ( factory)!
Stocks, cold storage, end of month..
Price, wholesale, 92-score (New York)
Cheese:
Production (factory), totalt
American, whole milki - -
r
130, 990
97, 986
.612
r
139, 380
93 965
6.37
6.35
6.33
6.31
6.31
6.31
6. 32
6.33
6.33
6. 33
6.32
6.31
6.31
10, 663
4,324
4.19
11,020
4, 473
3.96
12, 206
5, 237
3.82
11,689
5, 082
3.80
10, 750
4, 241
3.95
10, 006
3, 696
4.15
9,352
3, 231
4.42
9,365
3, 445
4.57
8,974
3,326
4.65
9, 495
3,791
4. 60
9. 859
4, 064
4.45
9,381
3. 854
4.31
10.843
4,505
P 4. 20
9,600
170, 200
9,850
185, 500
9,700
224, 600
9, 000
211,000
7, 700
158, 350
7,600
121, 650
8,300
98, 800
8,500
110, 000
7,450
110, 300
7,600
138, 350
6,750
152. 200
6,480
150,200
7. 500
194, 300
6.822
101, 695
5,753
112,314
6,848
153, 380
7, 951
162, 345
7,205
156, 882
6,405
137, 126
5, 254
113, 795
4,892
110,247
5,550
101, 690
6,890
103, 077
7,325
103. 145
6, 122
109, 041
5, 813
104, 872
3, 687
19, 128
4,446
9,436
2,787
6.073
2, 525
19, 150
2,401
21, 923
1,694
17, 922
1,734
13, 573
1,941
35, 090
1,120
21,085
376
22, 963
3,201
19,315
1 308
11, 597
1 353
13, 442
.138
.134
.135
.135
.134
.134
.136
.138
.139
.140
.139
.143
.139
1^3 051'
.612
11.168
Revised.
P Preliminary.
1 See note "§".
9 Totals include data not shown separately. Revisions for 1952-58 for total sales and total revenue (for 1st and 2d quarters of 1958 for other items; see footnote) are on p. 24 of the April 1960
SURVEY. Revisions for 1st and 2d quarters of 1959 will be shown later.
§ Effective July 1960, data exclude amounts classified as "spirits"; such amounts now included with ethyl alcohol (p. S-24). June 1960 data on comparable basis (thous. gal.): Production,
16,910; withdrawals, 9,962; stocks, 835,827.
O Alaska included beginning January 1959.
}Revisions for the indicated items and for the periods specified are available upon request as follows: Distilled spirits, rectified spirits, and wines (except import data for these itemsl—
July-December 1959 (scattered revisions); butter and cheese (total and American)—January 1957-June 1959; condensed and evaporated milk—January 1958-June 1959; dry whole milk—January 1952-December 1959; nonfat dry milk—January 1954-June 1959; fluid milk production—January 1955-December 1959; fluid milk used in manufactured dairy products—January 1952-July
1959; fluid milk price—June 1958-February 1959.
Mfiv
SURVEY OF CURRENT BUSINESS
1061
S-27
1961
1960
Unless otherwise stated, statistics through 1958 and
descriDfive notes are shown in the 1959 edition of
BUSINESS STATISTICS
March
May
April
June
July
DecemAugust SeptemOctober November
ber
ber
January
February
March
April
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
Shipments, carlo t
Stocks, cold storage, end of month
3
thous. of bu
No. of carloads. _
thous. of bu..
2,130
9,442
1,666
4,248
••1,435
1,166
426
316
Citrus fruits, carlot shipments
No. of carloads.. 4 6, 978 r 7, 145
Frozen fruits, juices, and vegetables:
Stocks, cold storage, end of month:
Fruits
thous. of lb._ 321, 639 271,614
496,016 538, 952
Fruit juices and purees
do
614,488 586, 537
Vegetables
do
Potatoes, white:
Production (crop estimate)
thous. of cwt__ r 4
Shipments carlot
_ _ No. of carlo ads __ 20. 631 r 14. 969
Price, wholesale. U.S. No. 1 (New York)
dol. per lOOlb..
4.975
6.642
7,475
5, 569
251, 775
648 357
544 864
316, 926
625, 198
563, 562
T
r
17, 723
18, 336
119
167
r
4, 689
430, 862
554 600
634, 794
r
7, 741
231
14, 120
"1,087
44, 598
1,493
37, 539
r
T 2, 188
r
'16
178
' 3, 658
496, 852
453, 229
801, 345
r
5. 265
3, 197
106
380
r
1,718
28, 100
r
3, 076
S, 189
1r256, 677
10 388
1 1, 785
8, 758
r
5,754
405 768 rr348 949
509 681 527 843
847 530 r809 594
299 654
567 879
799 74°
r
6. 033
9, 388
r
6,390
r
449. 926
384 114
877 632
7. 385
1,611
4, 496
>• 1,189
14. 958
522, 051 517, 744 507,683 482 688
413,014 353, 408 291 ,691 290 730
942, 145 1,012,996 1,017,386 983 519
r
1,443
9, 219
1,183
21,665
r
r
5, 841
12 524
T
16 448
6.750
4.760
3.153
3.836
3.790
3.981
4. 160
4 050
3.692
4 200
P 4 324
15 394
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats, rye, wheat) t thous. of bu._
76, 707
87, 461
81, 439
72, 465
66, 111
68, 721
83, 248
81, 262
86, 743
86 241
76, 866
94 351
109 179
Barley:
Production (crop estimate)
Receipts 4 principal markets
13.065
10, 962
13,967
17, 057
13, 616
36, 708
19, 794
14, 429
13,511
1423 136
11,021
16, 294
13 778
15 365
do
- do
Stocks (domestic), end of quarter, total d" mil. of bu.
On farms
do
Off farm so"
._do
Exports, including maltt§
--thous. of bu.
Prices, wholesale (Minneapolis):
No. 2, malting
dol. per bu__
No. 3 straight- .. _ _ .
do.._
Corn:
Production (crop estimate)
Orindings wet process©
Receipts, interior primary markets
12,881
25, 977
12, 239
25, 150
8,279
6,007
5, 995
468
280
188
9,680
9,304
7,370
'355
9Q2
r
153
6,584
6.288
7 480
245
126
118
5 723
1.176
1.112
1.162
1.075
1.092
1.013
1.125
1.026
1.122
1.012
1.148
1.069
1.119
1.025
1.129
1.037
1.139
1.043
1.141
1 054
1. 145
1.060
13, 118
34, 267
13, 777
34, 517
12, 370
28, 441
13, 712
34, 077
13, 080
21, 172
13, 851
29, 939
12, 396
78, 466
4 353
11 034
29, 730
12.172
28, 599
11 924
39', 739
13 393
33, 442
Exports, including oatmeal t. _
thous. o f b u .
Price, wholesale, No. 3, white (Chicago).. dol. per bu_Rice:
Production (crop estimate)
thous of bags 9
California mills:
Receipts, domestic, rough
thous. of Ib.
Shipments from mills, milled rice
do
Stocks, rough and cleaned (cleaned basis), end
of month
_
_-_ _ .
. thous oflb
Southern States mills (Ark., La., Tenn., Tex.):
Receipts, rough, from producers.do
Shipments from mills, milled rice--. do
Stocks, domestic, rough and cleaned (cleaned
basis), end of month
mil o f l b
Exportst
thous o f l b
Price, wholesale, head, clean (N.O.)
dol. per lb.
2
18,016
2,533
1,305
1,228
19, 144
15, 960
20, 028
12 , 789
454
1 335
13, 659
16, 556
27, 784
28, 610
19, 598
18. 976
3 649
2 070
1 580
30, 067
1. 149
1.079
1. 206
1.124
1.213
1. 145
1.200
1.152
1.194
1. 135
1.184
1.110
1. 165
1.037
1.057
1.014
.960
.942
1.017
.991
1.101
1.042
1 128
1.046
1 106
1.045
6, 209
3,421
4,830
7,672
10, 198
39,112
16, 046
6,263
4,461
i 1 162
2,820
6, 733
6, 363
4, 367
1.085
963
121
228
240
851
766
85
1.891
-.773
3,212
(3)
1,925
(3)
3,741
.750
2,188
.734
4. 065
.680
5, 641
.653
3,841
.642
1, 647
(3)
101.502
87,247
111,974
66, 035
79, 968
51, 687
75. 145
81, 240
88, 282
81, 634
69, 890
32. 566
36. 072
25. 436
212, 208
38, 682
64, 197
47, 541
109.295
113,300
108, 707
73,218
51, 209
62, 212
58. 978
158, 260
264, 019
74,410
203, 612
66. 678
217, 531
64, 075
201,045
46, 938
207, 057
100, 423
98, 679
791.3
176, 432
.083
658. 9
169,367
.083
547. 4
174.149
.083
421. 1
167, 725
.083
246.3
130, 246
.081
208. 6
42. 918
.079
361
13. 966
1. 157
641
969
3,338
4,832
1. 159
1.167
2,068
10. 489
1.150
1.083
1. 068
r
24,317
31 5.809
18, 745
18, 478
2
r
30, 957
251,259
2
1. £62
204
1,358
2
103, 693
87,874
1.314
2
96
1.218
10 92s
1.176
1 . 095
1,143
. 665
51,001
42. 806
61. 809
54, 391
52, 250
47, 295
41, 304
36 S02
40, 950
37. 388
38, 479
34 513
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
dol. per bu_.
No. 2, hard winter (Kansas City)
do
No. 2, red winter (St. Louis)
do
Weighted avg., 6 markets, all grades
do
2. 258
2.123
2. 106
2. 261
2. 256
2. 103
2.092
2.259
2.269
2. 008
2. 037
2.233
2.285
1.953
1.825
2.174
2. 287
1. 892
1.784
2. 023
2.120
1 937
1.817
2.113
1,020
.654
2 760
.661
? 300
. 605
129. 554
76, 570
96,718
70, 856
100, 931
76. 069
129.902
140, 554
126 439
133, 119
125 993
118 979
456, 749
272, 295
270 578
344, 358
147,889
257, 071
125 754
241, 328
111 908
270, 652
831.7
69, 319
.077
1, 403. 4
187,856
.078
1, 472 3
213, 987
.079
1 322 1
250, 046
. 081
1 176 5 r i 029 1
244. 542 153 699
.083
.083
842 c>
226 103
P. 085
1. 920
35. 519
1.106
1,176
712
1.114
1.093
1.235
20 105
1. 147
47, 595
332. 993
33, 260
53, 776
48 529
i 39 109
529
T 25 646
1. 093
400
679
1.097
1.115
11.363
4
19
46 3
1. 117 1
23, 809
18,159
34, 267
23. 834
r 979 f)93
T
o i 095 7
2 067
421
49, 594
42 171
49. 785
41 004
(3)
27, 338
364 708
1 706
958
1 448
r 1 (546
50, 831
45 317
. (HO
54 403
123, 031
98. 610
r
1 08]
1.011
559
483
70
, 245, 312 1,333,826
201.098 320, 686
2. 345
550
1 795
thous. of bu__
do
flour!
r ] (341
1
Rye:
Production (crop estimate)
thous of bu
Receipts, interior primary markets
do..
Stocks (domestic), end of quarter, totald"
do
Price, wholesale, No. 2 (Minneapolis), -dol. p e r b u _ _
Exports, total, including
Wheat onlyj
4 700
3 060
2
2
268
2
485
424
-62
Stocks (domestic), end of quarter, totald" mil. of bu
On forms
do
Off farm so71
do
Stocks (domestic"), end of quarter, totalcf-.mil. oi'bu.
O n farms - - - - - - do
Off farm so"
do
1. 157
1.081
' 3. 364
2,044
1.319
15, 047
16. 391
mil of bu
thous. of b u _ _
Wheat:
Production (crop estimate), total
mil. of bu
Spring wheat-. _ . _ _ ._
._
do
Winter wheat
__
do
Receipts, interior primary markets
thous. of huDisappearance (quarterly total). do
5.949
1. 156
1.075
168
256
2
112
7,956
1
mil o f b u
thous o f b u
do
Stocks (domestic), end of quarter, total d* mil. of bu
On farms
do
Off farm so"
do
Exports, including meal and flour t
thous. of bu-Prices, wholesale:
No 3, yellow (Chicago) _ _ _ _ _ dol. per bu
Weighted average, 5 markets, all grades
do
Oats:
Production (crop estimate)
Receipts, interior primary markets
2
246
121
125
8,689
49, 691
44 800
G4, 442
57 083
70, 346
61 335
2.146
2.157
2.146
2. 142
2.149
2. 154
2.150
2.171
1 982
1 988
2 009
2 040
2 095
2 050
2 02^
2 004
1. 852
2 073
1. 950
2.145
2. 127
2. 106
(8)
(*)
2.130
2.132
2. 146
2. 135
2.138
2. 125
2. 130
2. 155
r
2
Revised.
p
Preliminary.
'
December
1
estimate
of
1960
crop.
Old
crop
only;
new
grain
not
reported
until
beginning
of
new
crop
year
(July
for
barley,
oats,
and
wheat"
October
3
4
5
for corn).
No quotation.
Revisions (1960) are as follows (carloads): Citrus fruits, February, 6,779; potatoes—January, 14,763; February, 13,460*
May 1 estimate of 1961 crop
t Scattered revisions for 1958-January 1960 for exports of indicated grain series will be shown later.
§ Excludes a small amount of pearl barley.
©Data beginning January 1959 are on
standard 17-percent moisture basis; prior thereto, on basis of varying moisture content (from 12 to 25 percent).
9 Bags of 100 Ib.
cfDatu prior to last quarter of 1959 will be shown later. The figures include grain owned by Commodity Credit Corporation and stored off farms in its own steel and wooden bins
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
May 190
1960
March
April
May
June
July
1961
DecemAugust SeptemOctober Novernber
ber
ber
January
February
March
April
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Continued
Wheat flour:
Production:
Flour
thous. of sacks (100 lb.)__
Operations percent of capacity
Offal
thous. of short tons
Grindings of wheat
thous ofbu
Stocks held by mills, end of quarter
thous of sacks (100 Ib )
Exports
do
Prices, wholesale:
Spring, standard patents (Minneapolis) §
dol. per 100 lb__
Winter hard 95% patents (Kansas City)§ do
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected) :
Calves
thous. of animals
Cattle
do
Receipts principal markets
do
Shipments feeder to 8 corn-belt States
do
Prices, wholesale:
Beef steers (Chicago) _
dol. per 100 Ib _
Steers, stocker and feeder (Kansas City)
do
Calves, vealers (Natl. Stockyards, 111.)
do
Hogs:
Slaughter (federally inspected)
thous. of animals..
Receipts, principal markets
do
Prices:
Wholesale, average, all grades (Chicago)
dol. per 100 lb_.
Hog-corn price ratio
bu. of corn equal in value to 100 Ib. of live hog__
Sheep and lambs:
Receipt^ principal markets
do
Prices, wholesale:
Lamb 5 ; average (Chicago)
dol. per 100 Ib
Lambs, feeder, good and choice (Omaha)
do
50, 612
19, 350
82 2
369
44 271
19,042
80.9
362
43 473
20, 184
81.9
384
46, 127
19, 253
85.9
368
44, 101
22, 002
85.3
418
50, 372
21, 615
91.7
408
49. 371
23, 292
98.8
430
53, 147
22, 181
94. 1
414
50, 400
4, 462
3, 563
3,225
2,155
4, 161
1,957
1,548
1,724
4, 330
2,281
2,397
3,227
4. 669
3, 818
2,127
5.293
4 933
5.343
4 933
5.455
5.033
5. 435
5.050
5. 365
5.050
5. 250
4.983
5.300
5. 083
5.330
5.090
5. 303
5.033
5. 328
5.050
5. 280
5.017
1,577
1,703
482
309
394
1 412
1,509
295
378
1,606
1,827
352
397
1,692
1,741
301
374
1, 592
1,599
249
450
1,787
1.992
388
514
1,782
2, 092
783
516
1,746
2, 605
1,319
502
1,625
2, 080
884
451
1,576
1, 634
541
27.40
25.14
33. 00
27.13
25. 46
28. 50
26. 75
25. 38
29.00
25. 58
23. 50
26.00
25.30
21.81
25.50
24.75
21. 23
24. 50
24.62
20.91
25.50
24.83
21. 59
25. 50
26. 00
22. 54
28.00
6,116
2,782
5,571
2,578
5, 483
2,672
5, 086
2, 465
4,304
2,061
5, 203
2, 46f>
5,165
2, 330
5, 407
2, 451
15.19
15. 68
15. 57
16.11
16.57
16.14
1 6. 07
15.1
14.8
14.4
14.8
15.2
15.3
14.7
1 088
858
159
1 054
902
148
1 110
1,086
258
1,137
881
205
1,113
875
190
1,240
1,165
474
22.25
20.35
21. 25
21.20
21.25
20.88
21. 50
19. 61
20. 25
17.95
1,959
2,071
2,054
641
94
71
634
80
57
591
89
67
887. 7
166,041
2, 640
45, 933
1,004.8
156, 143
2, 062
36, 220
1 , 044. 7
153, 078
2,142
43, 044
22, 137
85.7
422
MEATS
Total meats:
Production (carcass weight, leaf lard in) , inspected
2,144
slaughter
mil o f l b
Stocks (excluding lard), cold storage, end of month
594
mil. oflb..
88
Exports (including lard)
do
53
Imports (excluding lard)
do
Beef and veal:
1,000.3
Production inspected slaughter
do
Stocks, cold storage, end of month
thous. of lb__ 173, 574
2,201
32, 887
Imports
do
Price, wholesale, beef, fresh, steer carcasses, choice
. 476
(600-700 Ibs.) (New York)
dol. per Ib .
Lamb and mutton:
Production, inspected slaughter
thous. oflb.. 54, 830
11, 188
Stocks cold storage, end of month
do
Pork (including lard), production, inspected slaughter
1 088 7
Pork (excluding lard):
Production, inspected slaughter
thous. of lb__ 819,880
337, 921
Stocks, cold storage, end of month
do
7. 828
Exports
do
12, 455
Imports
do
Prices, wholesale:
478
.455
Fresh loins, 8-12 Ib. average (New York)
do
Lard:
196 299
144, 800
Stocks, dry and cold storage, end of month
do
55, 506
Exports
do
113
Poultry:
21, 615 ' 22, 462 ' 21, 081 21, 495
91.4
93.9
86.9
94.9
389
414
403
418
49, 166 r 51,054 ' 47, 791 50,976
3,200
4,811
3,198
'0.310
5. 050
P 5. 338
p 5. 035
427
1,632
1,826
476
385
1,435
1,397
311
457
1 , 627
1,629
402
26 61
23. 61
30. 00
27.02
24.29
33.50
25 84
23. 70
36. 50
' 25. 32
24. 50
P 32. 49
5,707
2,597
5, 753
2, 615
5. 744
2, 586
5, 078
2,234
6, 110
2, 530
17.04
17.06
16. 68
16.82
17.74
17. 26
16.90
17.1
19.2
17.8
17.1
17.6
16.9
17.5
1,323
1,457
722
1,353
1,507
616
1,192
1,005
215
1,114
889
184
1,300
1,003
177
1,117
835
128
1, 310
938
119
18.25
17.21
16. 50
17.34
16. 50
15.98
16.50
15. 95
16. 50
15. 78
17.25
10. 59
1 7. 25
16.96
16.50
16.65
1,834
2,097
2,081
2,110
2,112
2,100
2,154
1,879
2,211
532
69
77
461
88
94
403
89
68
402
103
56
410
78
43
423
89
51
444
75
59
470
74
50
'477
69
71
976.2
153, 322
1,770
51, 718
1,091.6
160, 876
2. 596
70, 735
1, 094 5
171,243
2, 750
48, 036
1,074.1
182, 739
2,877
30, 300
1,002.4
182, 239
3,077
24, 778
977.2
183, 540
2, 020
28, 581
1.035.0
168, 238
2,973
34, 537
.474
.473
. 451
.441
.433
52, 430
10,921
53, 333
9,943
52, 067
11,654
49, 974
13, 178
50, 532
13,434
. 425
59, 347
12, 044
r
908.9 1,042.4
156, 977 '153,366
2,786
2. 370
42, 604
31,029
.421
.438
.459
.476
.458
02, 057
12, 280
50, 501
12, 424
54. 093
12, 442
64, 972
12,316
57,121
11, 767
1 018 9
1 012 9
957 3
807 8
949 0
927. 1
974.2
1,053.4
1,069.2
1 , 053. 9
773, 678
383, 291
7, 078
15, 448
766, 768
386, 291
607, 007
294, 242
3, 000
15, 584
715,052
220, 605
4,278
13,227
704. 000
157, 812
7,103
12, 568
744, 573
143, 934
5. 948
14, 646
71 6, 454
350, 688
3,583
17, 329
0, 352
!3, 842
808, 530
153, 629
7, 245
13, 530
816.207
1 70, 226
6, 578
13, 382
804. 280
200, 383
7,304
14, 509
.476
.429
492
. 453
. 484
. 492
.469
.508
.409
.485
. 445
.520
.472
.525
.476
.505
526
. 489
.491
.490
179,103
136, 000
56,154
.123
180 153
149, 800
49. 825
120
1 75, 676
136,400
62, 724
.123
146, 486
128, 900
42, 940
.133
169, 799
108, 900
51,186
.140
102,085
92, 500
42, 319
. 128
107, 381
72, 400
57, 920
.133
178, 840
83, 400
32, 995
.140
184.405
93, 500
49, 381
. 131
913 4
.444
24. 73
24.38
15.25
15. 75
530
168, 621
.434
66. 850
' 17, 618 ~~2i,~615~
1,101.4
696, 199 840,157
235, 567 '243, 067 "268," 458"
4, 579
6,682
1 7, 552
12, 693
.487
.490
. 480
.457
. 456
182, 790 158,935 191.463
114, 300 ' 112, 400 141,200
33, 899
40, 461
39, 997
.135
P. 158
^.158
POULTRY AND EGGS
Stocks, cold storage (frozen), end of month
thous. oflb..
Turkeys
do
Price, in Georgia producing area, live broilers
dol. per Ib
Eggs:
Production on farms
mil. of cases 9 _.
Stocks, cold storage, end of month:
Shell
thous. of cases 9. .
Frozen
thous. of Ib
Price, wholesale, extras, large (delivered; Chicago)
403
413
490
506
526
631
650
718
638
518
477
220, 381
105, 208
184. 704
87, 277
159, 218
74, 306
149, 832
66,717
152, 737
70, 891
201, 111
112,517
292, 020
180, 057
414, 384
282, 187
352, 509
209, 941
300, 708
160,097
298, 026
169, 292
r
r
r
378
400
267, 538 '228, 953
152,383 '126,004
206, 252
109, 545
. 171
r. 171
'. 160
'. 150
'. 151
r. 149
'.148
.155
.170
.163
. 148
15.5
15.4
15.8
14.4
13.9
13.3
12.0
13.0
13.1
14.0
14.3
13.5
15.7
15.3
118
81, 431
299
90, 104
753
121, 768
1,110
157, 040
1,029
166, 387
746
158, 094
483
139, 797
209
113, 743
96
87, 344
76
64,144
80
54, 158
.345
.363
.328
.297
.321
367
.458
.493
.523
.447
.370
.387
.353
21,465
.255
33, 298
.228
30, 993
'.226
32, 527
.205
« r. 178
. 167
. 169
81
49
49
48, 706 ' 53, 965 67, 769
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans:
15, 304
15, 477
17,613
31, 600
22, 792
20, 129
18, 678
30, 392
Imports (incl. shells)
long tons.. 20, 093
.295
.293
.298
.290
.284
.288
.283
.285
.271
Price, wholesale, Accra (New York)
dol. per lb._
r
9 Cases of 30 dozen.
Revised.
* Preliminary.
§Quotations are for 100 pounds in bulk: prior to 1959, for 100-pound sacks.
« Revisions for January 1960 and February I960, respectively (dollars per pound): 165; 174.
.229
SURVEY OF CURRENT BUSINESS
Miiv
S-29
1960
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
March
April
May
June
July
1961
August
Septem- October Novem- December
ber
ber
Janu-
Febru-
ary
ary
March
April
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS— Con.
Coffee (green):
Inventories (roasters', importers', dealers'), end of
2,857
quarter
thous. of bagscf- 5, 83?,
R castings (green weight) quarterly total
do
2,022
Imports
-do
783
From TJrazil
do
Price, wholesale, Santos, No. 4 (New York)
dol. perlb.370
Confectionery , manufacturers ' salesj
thous. o f dol - 104, 892
1, 648
758
1,816
748
2, 931
5. 205
1,850
985
1,625
803
2 031
1 057
3,440
5 083
1,963
863
2 078
784
1 826
546
3.204
5 774
1 828
730
1 951
621
.371
87, 295
.373
72, 909
.375
76, 111
. 369
60, 664
. 364
83, 402
.369
133, 680
.368
127,489
. 365
126, 674
. 3«fi
108, 795
.368
106, 031
133, 765
146, 579
165, 822
193, 461
210, 519
222, 396
223, 188
237, 163
230, 463
203, 610
r 4, 290
3, 996
3, 204
2,910
2, 564
2,305
2,086
1, 661
1,335
1,415
2,325
4, 280
53, 963
63 640
573, 532 1,029 544
149, 826 232, 758
47, 042
883, 079
166, 150
45 267
726 002
227, 288
29 414
393 966
226, 355
61 750
296 251
250, 283
127 933
202 533
141,012
650 761
145 498
134, 105
867 524
111 737
59, 432
768 200
81 684
40 838
288 646
361 519
83, 220
50 734
173' 198
117,917
125 126
139. 929
779, 790
772, 817
6,973
705 390
699 916
5 474
785, 680
780, 032
5,648
976, 291 1,071,969 892, 447
968 753 1 061 206 882 429
7,538
10, 763
10 018
842, 516
837 595
4,991
704, 375
699 680
4, 695
685, 437
683 009
2,428
720 836
717 104
3 732
629, 898
625 878
4 020
651,020
646 092
4 928
1,951
485
1, 954
243
2,023
331
1, 716
297
1,396
414
1, 175
425
984
308
1.365
291
1, 946
193
2 327
"'276
2,337
262
2.217
352
2, 099
389
427, 432
331, 385
96, 047
416 946
317 287
91,112
480 656
393, 195
73, 584
411, 892
282, 570
120, 082
393 494
211, 164
160.409
327 623
3 280
192,515
343 856
0
25, 227
196 617
0
41,832
351 845
0
45, 698
276 073
0
34,919
217 799
0
56, 560
337 491
0
103, 850
471 485
0
163, 510
49, 404
40, 910
45, 457
42 595
60, 451
47,415
48, 632
43, 959
56, 1 70
42, 434
26, 792
3 750
23, 635
6 375
23, 424
960
8,789
180
6, 005
180
6, 811
0
7, 865
0
17, 582
0
dol. per Ib
.061
062
.061
.066
064
.066
064
065
064
064
063
.062
dol. per 5 Ib
_ -dol. perlb
thous of Ib
.542
.085
11, 593
540
.085
9 536
.541
.085
10, 588
.541
.085
9,940
.541
.087
8,586
565
.090
9 132
568
.090
9 132
571
.090
8 050
571
.090
7,845
589
.088
9 710
573
.088
8 993
573
.088
7 734
.088
10 630
194.0
185.7
193.8
206.8
151.8
218 1
189 4
205 1
193.5
186 9
199 1
209 9
211.8
123.0
118.7
115.9
126.2
109.1
108 3
111 8
117 9
105.2
120 3
106. 1
101 1
119.0
154.3
136.4
156.8
164.1
145.7
164 9
133 6
138 9
140.7
156.1
172.4
159 4
56. 5
54.3
56.2
49.7
50.6
48 6
41 2
42 6
42.8
r
r
150.4
139 6
123.7
132. 6
120.1
135 2
134 6
150 3
148.4
158 3
175.3
155 9
38.7
39.1
32.8
39.9
35.2
33.5
33.7
32.9
31.4
32.6
35.3
35.9
42.8
.238
.238
.238
.238
.238
238
!. 235
235
.235
245
.247
255
P 263
Fish:
Stocks, cold storage, end of month
thous.
Sugar:
Cuban stocks, raw, end of month
thous. of Spanish
United States:
Deliveries and supply (raw basis):
Production and receipts:
Production
short
Entries from off-shore, total 9
-Hawaii and Puerto Rico
of lb_. 142, 880
r
tons
tons
do
do
Deliveries, total
__ _ _ __ _ _ d o _
For domestic consumption
do
For export and livestock feed
_do
Stocks, raw and refined, end of month
thous. of short tons_.
Exports
__ -short tons
Imports:
Raw sugar total?
do
From Cuba
do
From Philippine Islands
__do
Refined sugar, total
From Cuba
Prices (New York):
Raw wholesale
Refined:
Retail§
Wholesale (excl. excise tax)
Tea imports
_
do_
do
Baking orfryingfats (incl. shortening):*
Production
_ mil. o f l b
Stocks (producers 'and warehouse), end of month
mil. o f l b
Salad or cooking oils:*
Production
do
Stocks (producers' and warehouse), end of month
mil. oflb
Margarine:
Production
do
Stocks (producers' and warehouse), end of month
mil. of lb__
Price, wholesale (colored; delivered; eastern U.S.)
dol. perlb
3, 702
. 061
57 1
73. 2
r
1 717
642
2, 965
5 928
2 234
841
.369
105, 859
.378
102.710
.372
172,280 '•156,369
150,098
T
110 6
062
168.4
r
148. 5
139 2
FATS, OILS, AND RELATED PRODUCTS
Animal and fish fats:A
Tallow, edible:
26.1
27.0
24.5
Production (quantities rendered)
mil o i l b
24.5
28.8
30 7
27 6
27 2
30 0
30 0
28 0
34 9
23.2
24.6
21.7
26.3
22 6
24.7
26.1
23.0
Consumption in end products!
do
28 2
27.6
33 8
Stocks (factory and warehouse), end of month
27.4
22.5
24.1
23.0
94 2
23.1
27 0
24.7
24.8
26.4
23 8
24.9
do
Tallow and grease (except wool), inedible :t
258. 4
255. 4
233.9
261 1
Production (quantities rendered)
do
237.6
253.7
254 3
249. 6
257.8
255 0
251.8
249 9
161. 6
117 3
157 5
141 9
150 9
153 9
161 4
151 8
Consumption in end products^
do
167 0
161 5
147 0
136 6
Stocks (factory and warehouse) , end of month
333.8
291.9
301. 1
282.5
339.6
330.8
304.8
338.4
323. 1
do
347 1
310 7
342.7
Fish arid marine mammal oils:J
r
.2
14.2
Production
_ do
2.1
35. 1
40.0
9.0
36 8
29 5
22.7
7.8
3
9.2
9.0
8 2
8.0
9 1
8. 5
7 2
83
Consumption in end products©
do
1C) 6
8 5
9 3
8 4
Stocks (factory and warehouse) , end of month©
89.5
87.4
91.9
105. 6
87.1
84.2
mil. of l b _ .
82.7
96.0
84.3
95.0
109.5
85.6
Vegetable oils and related products:
Vegetable oils (total crude and refined):
106. 5
165. 4
229.3
164.3
122. 5
71.2
138. 3
156 0
Exports
do
241.6
59.4
129. 9
86 8
44.5
40.2
51.9
57.0
Imports
do
39.0
42.6
52 5
47.6
37 0
48 1
38 7
46 5
Coconut oil:
Production:
39 6
44 7
43 6
43 7
39 0
35 9
44 8
Crude
do
45 8
47 9
4(> 2
50 6
37 °
33. 0
35.9
27.5
35.4
35.1
38.8
32.6
Refined©
__.
_
___ do 36.8
36.3
31.4
30. 0
29 9
53. 6
Consumption in end products
do
57.9
55.9
35.7
52.8
45 3
54 7
49 5
48.0
42 6
53. 1
43 8
Stocks, crude and refined (factory and warehouse),
2
55.4
315.4
322.4
315. 0
328.5
end of month
mil. of Ib
306. 2
322. 6
357.9
327. 0
321.2
338. 6
340 3
14.3
13.2
12 3
16.1
18.3
7 8
15 6
16 3
Imports
do
16 5
8 9
13 8
12 5
Corn oil:*
Production:
28.6
25.0
29.0
28. 5
27.7
27.4
29 6
26.8
24 2
25 6
28 0
Crude
do
24 6
30.5
22.9
25.0
24.3
Refined©
_ _ _ _ _ _ _ do
21. 1
25. 5
27.6
25.1
32.0
24.3
27.9
24 5
22.4
26. 2
21.6
24.4
29 2
Consumption in end products
_ do- 29.5
24.9
26.5
29.3
25.3
25.2
Stocks, crude and refined (factory and warehouse),
31.9
32.7
39.1
42.6 •
end of month
mil.oflb-.
38.7
33.4
37.9
37.7
38.7
33.2
32.8
32.7
r
L1
KCvised.
f Preliminary.
-beginning
Beginning septemoer
September iybu,
1960,prices
prices are
are Ibased on
311 aannew specification and are not entirely comparable with those for earlier periods,
data include Government Services Administration stocks and are not comp;
with those for earlier periods.
rJlllnn-o
nf
19OO7A
IK
tTJ/->T'ici/-no
frvy
To-nnovT^
1 O^fi—A/TOT-nVi
1OP;G
fr\r-
33 5
29 5
26 3
205 0
150 6
348. 5
1
9 0
73.0
49 4
41 0
33 7
35. 2
51 4
339. 8
6 6
27 1
26 5
26.8
36.4
n.
oils
SURVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
Mav K»f>
1960
March
April
May
June
July
1961
August Septem- October Novem- December
ber
ber
January
February
March
666. 9
612.9
2, 404. 6 1. 964. 3
525. 7
1 , 509. 8
480. 4
1, 059. 6
April
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
FATS, OILS, AND RELATED PRODUCTS— Con.
Vegetable oils and related products— Con.
Cottonseed :t
Consumption (crush ings)
thous. of short tons..
Stocks (at oil mills), end of month-do
Cottonseed cake and meal t
Production
do _
Stocks (at oil mills) end of month
do
Cottonseed oil:
Production:
m
Crudet
^- °f lb_Refined c?
do
Consumption in end products
do
Stocks, crude and refined (factory and warehouse) ,
end of month
_ _ m i l . of lb_
Price, wholesale (refined; drums; N.Y.)~dol. per l b _ .
528. 3
953.4
373.7
596. 0
252.4
357.3
176.6
191.1
142.7
104.8
139.8
205.0
412.9
701.9
760.8
1,639.0
740.0
2, 393. 5
246.7
140.8
175. 8
188.9
116.9
204.5
83.0
202.8
70.0
189.9
68.6
157.7
189.3
137.1
353.5
167.7
344.5
198.8
287.5
197.7
309.8
227.2
247.4
239.6
224.9
272. 0
181.3
159.6
102.6
130.9
136.2
96.8
86.7
106. 6
103.7
62.6
81.3
103.8
51.3
46.9
86.9
48.8
55. 9
107. 6
133.3
71.5
91.8
258. 4
160.7
109.0
248.3
176.7
112.2
205. 8
159.4
113.7
223.8
172.9
119.7
179. 0
149.0
118.6
163. 5
166. 9
124.4
520. 3
.145
495. 7
.151
446.9
.156
357.6
.155
286.2
.151
200.0
. 153
216.8
.145
322.6
.148
389.6
.156
425.8
.159
433.5
.170
463. 4
.180
448. 7
p. 184
40.5
27.8
3.36
30.4
20.0
3.43
32.9
21.7
3.19
21.9
33. 0
3.01
31.9
30.7
3.11
60.5
70.0
2.98
63.2
108.0
2.88
53.6
99.7
2.76
36.3
103.8
2.82
46.5
100.3
2.87
42.9
99.0
3.02
43.9
100. 1
3.07
29.5
30.1
21.7
34.0
23.8
35.0
15.8
32.4
21.7
34.7
43.0
31.3
45.0
31.7
38.6
25.8
26.1
25.5
33.3
26.4
30.8
27.3
31.4
32.6
151.2
.131
123.9
.132
89.5
.132
74.6
.129
61.2
.132
71.0
.126
80.6
.124
92.9
.123
96.9
.125
104.3
.126
106.7
.130
105.1
p. 131
992.8
1, 620. 2
995. 9
1,405.4
939.8
1 , 291 . 5
941.3
1,016.3
962. 0
597.0
806.2
494.7
1,066.9
2, 974. 5
1,102.2
3,671.7
1,130.7
3,318.1
1, 507. 6
247.8
1,513.6
269.8
1 , 443. 2
225. 4
1,441.6
251. 0
1,484.0
182.0
1, 239. 6
158.6
1,638.4
183.4
1,703.2
221.4
1, 748. 6 1, 783. 2
260.0
204.0
366.4
273.2
264.6
365. 9
280.9
275.2
348.6
303.7
303.6
350. 0
238. 5
245.5
358.5
306. 7
303.0
298.4
264. 3
265.4
390.7
271.8
275.3
401.1
279. 5
263.5
595. 9
.121
564. 5
.125
422.6
.128
450. 5
.131
311.8
.138
307.5
.129
366. 3
.133
446.0
. 144
14, 360
12, 734
23, 437
13, 007
4,339
29, 574
14, 783
20, 560
11,325
37, 771
14, 646
4,476
82, 922
13, 335
81, 103
14, 341
84. 587
12, 340
14, 257
5,237
6,389
2,631
15, 745
5,811
6,494
3, 440
16, 178
6,103
6, 592
3,483
11,790
4,994
4,881
1,914
15, 796
5, 895
6,722
3,179
15,113
5,399
6,874
2,840
14,910
5,319
6,709
2,882
14, 642
5,681
6,107
2,853
12, 380
4,824
4,800
2,756
2,642
36, 929
502, 306
3,177
41,355
623, 796
3,667
43, 643
571. 929
2,592
35, 667
503, 935
2,954
44, 622
623, 983
3,221
40, 899
581,540
3,491
39, 836
577, 031
3,206
40, 320
671,450
14, 054
1,434
15.156
1,813
15, 543
1,805
11,906
1 , 622
15, 887
1,449
14, 501
1,706
14, 543
1,939
Flaxseed :
45.6
Consumption (crush ings)
thous. of short tons..
54.4
Stocks (at oil mills), end of month _ . _ _ _ do _ _
3.28
Price, wholesale (No. 1; Minneapolis) __dol. per bu_.
Linseed oil:
32.5
Production crude (raw)
mil of Ib
27.7
Consumption in end products^
- do _ .
Stocks, crude and refined (factory and warehouse),
161.2
end of month
mil of Ib
.135
Price wholesale (Minneapolis)
dol. per Ib
Soybeans:
1,039.8
Consumption (crushings)
thous. of short tons_.
1,922.6
Stocks (at oil mills), end of month}
do
Soybean cake and meal:*}
Production
_. .
--mil. of lb_ 1,562.2
171.8
Stock^ (at oil mills) end of month
do
Soybean oil:
Production:
379.4
Crude
do _ 291.4
Refined cT1
do
287.9
Consumption in end products}
do
Stocks, crude and refined (factory and warehouse),
585. 8
end of month
mil of lb_
.117
Price wholesale (refined* N Y )
dol perlb
1, 149. 8 '1, 036. 6 1, 043. 9
3, 298. 5 '3, 255. 7 2, 920. 3
r
\, 593. 0 1, 603. 4
' 327. 2
356.8
T
377. 6
298.5
280. 8
409. 8
295.1
283.6
418.7
326. 0
310.9
466. 4
.143
' 517. 4
.153
' 537.
2
r
. 164
22, 423
14, 162
24, 674
15,061
14, 456
5,417
6,089
2,949
13, 053
4,972
5, 680
2,401
15, 916
5, 593
7,290
3,034
2,997
33, 793
364, 660
3,083
38, 916
475, 244
2,854
37, 447
441,833
3, 642
42, 354
522, 834
14, 504
1,989
12, 372
1, 967
13,991
1, 733
12, 626
' 1, 606
15, 554
1.921
r
381.1
307. 6
284. 2
r
622. 0
P. 173
TOBACCO
Leaf:
Stocks, dealers' and manufacturers', end of quarter,
totnl
mil of Ib
Exports, including scrap and stems
thous. of lb_
'• 1 1 744
4,694
27, 754
13,115
Manufactured products:
1 5, 364
Production, manufactured tobacco, total
do
5,272
Chewing plug ond twist
do
6,917
Smoking
do
3, 175
Snuff
- _.do Consumption (withdrawals):
Cigarettes (small):
3,246
Tax-free
millions40, 260
Tix paid
do
531,
024
Cigars (large), tax-paid
thousands-Manufactured tobacco and snuff, tax-paid
14,935
thous. of lb_1, 573
Exports cigarettes
millions
r
4. 784
44, 574
12, 597
r
4 670
28, 740
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value, total 9
thous. of dol_Calf and kip skins
thous. of sldns__
Cattle hides
thous. of hides.Imports:
Value, total 9
thous. of doLSheep and lamb skins
thous. of pieces_Goat and kid skins
do
Prices, wholesale (f.o.b. shipping point):
Calfskins, packer, heavy, 9^/15 Ib
dol. per lb__
Hides, steer, heavy, native, over 53 Ib
do
6,941
182
572
184
374
6,043
161
490
5,223
121
459
134
557
6,284
158
586
5,042
142
514
6,962
248
646
8,793
183
921
7,106
253
692
7,849
233
740
6,496
279
605
9,288
390
837
8,905
5, 585
1,530
7,945
3,095
2,291
7,973
3,549
1,978
8,029
3,822
2,189
5,947
2,160
1,413
4,926
916
1,551
4,173
1, 573
1, 306
4.955
1,665
1,288
3,856
1,088
1,278
3, 936
980
1,126
4,423
1, 775
1,246
3,407
804
849
5.127
1,338
.560
.143
.565
.143
.565
.148
.580
.133
.580
.143
.525
.148
.525
.138
.550
.138
.575
.128
.575
.118
LEATHER
Production:
589
535
492
536
476
332
630
532
617
562
Calf and whole kip
thous. of skins.1,496
1,743
1,946
1,947
1,934
1,832
1,911
1,900
1,803
1,829
Cattle hide and side kip©.thous. of hides and kips..
1,714
1, 464
1,622
1,687
1,301
1,421
1,381
1,345
1,919
1,344
Goat and kid®
thous. of skins.2,669
2, 820
2,652
2,350
2,685
1,858
2,489
2,825
2,479
2,354
Sheep and lamb©
do
Exports:
4,277
2,528
2,829
2, 725
3,898
3, 738
2,033
3,067
2, 451
Glove and garment leather
thous. of sq. f t _ 4,149
2,390
3,291
4,168
4,274
4, 050
2,987
2,952
3,960
Upper and lining leather
do—
Prices, wholesale:
.700
.683
.730
.720
.663
.677
.713
.717
Sole, bends, light, f.o.b. tannery
dol. per lb-Upper, chrome calf ,B and C grades, f.o.b. tannery
1.333
1.303
1.303
1.313
1.313
1.317
1.327
1.373
1.317
1.333
dol. per sq. ft._
r
J
Revised.
* Preliminary.
Revised estimate of 1960 crop.
}For 1958 revisions, see Census report, "Fats and Oils, 1958" (Series M28-1-08).
o*Production of refined oils covers only once-refined oils (alkali refined).
*New series; data prior to August 1958 are available from reports of the compiling agency (Bureau of the Census).
9 Includes data for items not shown separately.
©Revisions for January-March 1959 (also for 1958 for sheep and lamb) will be shown later.
. 575
.113
P. 625
p. 143
561
1,797
1,071
2,442
528
1,973
1, 264
2,567
4,993
4,351
6.892
5,611
'.673
' 1. 387 Pl.401
3.09
SURVEY OF CURRENT BUSINESS
Mav 1SH51
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
S-31
1960
March
April
May
June
July
1961
DecemOctober NovemAugust September
ber
ber
January
February
March
April
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES
Shoes and slippers :t
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' arid children's
do
Infants' and babies'
do
57, 861
48, 756
48, 595
49, 902
43,413
58, 108
48, 776
47, 452
45, 666
42, 901
50, 659
50, 305
57, 561
51, 408
42, 820
42, 320
42, 934
37, 841
49, 260
40, 603
38, 532
36, 955
38, 251
46, 809
46, 241
51,597
9, 796
2,278
28, 733
6, 921
3, 680
8, 660
i,918
24, 069
5, 226
2,947
8,914
2,010
22, 799
5, 602
2 995
9, 039
2,112
23, 172
5,733
2,878
6, 977
2 145
21,135
5,440
2,144
9,437
2 408
26, 902
7 303
3,210
8, 521
2, 026
21 , 069
6, 055
2, 932
8, 433
1 907
19, 666
5 547
2,979
7,952
1 , 683
18, 870
5, 407
3,043
8,026
1, 838
19,848
5, 544
2,995
8,345
2 105
26,193
6 856
3,310
8,465
1 993
25, 730
6 762
3,291
9, 800
2 120
29, 677
6 542
3 458
5, 461
5, 300
5, 355
589
331
174
5,802
649
517
147
4,832
368
372
155
7,809
518
521
245
7,189
7, 916
7, 706
3,681
3,115
439
296
129
3,328
432
304
191
4 915
Slippers for house wear
do
Athletic
--do __.
Other footwear
do
Exports
- - do_ __
Prices, wholesale, f.o.b. factory:
Men's and boys' oxfords, dress, elk or side upper,
Goodyear welt
1947-49=100
Women's oxfords, elk" side upper, Goodyear welt
1947-49= 100. _
Women's pumps low-medium Quality
do
602
390
252
542
294
235
506
478
217
540
464
241
476
493
134
528
477
210
573
476
252
137.4
1 35. 7
133. 5
133. 5
133. 5
133. 5
133.5
133. 5
133. 5
133. 5
133 5
133 5
P 133 5
146. 7
133. 7
146. 7
133.7
146.7
133. 7
146. 7
133.7
146.7
133. 7
146. 7
133.7
146. 7
133.7
146. 7
133.7
146. 7
133. 7
146.7
133. 7
146.7
134.8
146.7
134.8
p 146. 7
p 134. 8
2,263
400
1,863
2 271
423
410
' 1 914 1 861
2,302
421
1,881
2 258
428
1 830
2,696
404
2,292
2 856
452
2 404
LUMBER AND MANUFACTURES
LUMBER—ALL TYPES1
National Lumber Manufacturers Association:
Production, total
_mil. bd. f t _ _
Hardwoods
do__
Softwoods
do
Shipments total
do _
Hardwoods
do
Softwoods
do
Stocks (gross), mill, end of month, total
Hardwoods
_
Softwoods
Exports, total sawmill products
Imports total sawmill products
SOFTWOODS1
Douglas fir:
Orders new
Orders, unfilled, end of month _
Production
Shipments
Stocks (gross) mill end of month
'470
' 2, 662
' 2,r 969
547
' 2, 422
' 3, 059
'528
' 2, 531
' 3, 063
' 550
' 2, 513
' 3, 207 ' 3, 196 ' 2, 701
' 545
' 557
' 540
' 2, 662 ' 2, 639 ' 2, 161
' 3. 203 '3,110
' 2, 617
r 542
' 514
'473
' 2, 661 ' 2, 596 ' 2, 144
'9,978
' 3, 652
' 6, 326
'9,974
' 3, 630
' 6, 344
' 9, 978
' 3, 633
'6,345
M bd. f t _ _ 71, 578
325, 939
do
89, 174
305, 895
83, 843
377, 874
do
_ do
__do
mil. bd. ft
_ _ _ _ do_ _
do
_
do __
do
' 3, 132
r
'706
' 659
'849
'757
1, 238
31, 722
Exports total sawmill products
M bd ft
17, 271
Sawed timber
do
14, 451
Boards, planks, scantlings, etc
do
Prices, wholesale:
Dimension, construction, dried, 1" x 4", R. L.
dol. per M bd. ft.. 83. 193
Flooring, C and better, F. G., I" x 4", R. L.
dol. per M bd. ft.. 133. 084
Southern pine:
'543
Orders, new
mil. bd. ft..
Orders, unfilled, end of month
do._.
201
Production
do
'586
'524
Shipments
_
do.__
Stocks (gross), mill and concentration yards, end of
1,974
month. ._
- . _ _ . . . _ .-.
___ mil. b d . ft.
6, 420
Exports, total sawmill products
M bd. ft
Sawed timber _ _ .
.
_ do
1, 620
Boards, planks, scantlings, etc
..do
4,800
Prices, wholesale, (indexes) :J
Boards, No. 2 and better, 1" x 6", R. L.
117.2
1947-49=100..
Flooring, B and better, F. G., 1" x 4", S. L.
194 7-49= 100. _
95.4
Western pine:
Orders, new. _ __
...mil. bd. ft.
'717
391
Orders, unfilled, end of month
.
do
Production.
_.
do
758
Shipments
_
do
702
Stocks (gross), mill, end of month
_.do_ _
2,089
Price, wholesale, Ponderosa, boards, No. 3, I" x 12",
79. 680
R. L. (6' and over)§
dol. per M bd. ft
'698
'635
r 744
'722
' 1, 260 '
36, 531
19, 628
16, 903
' 2, 796 ' 2, 544
' 550
'508
' 2, 246 r 2. 036
' 2, 695 r 2, 461
'496
'466
' 2, 199 ' 1.995
' 2,
247
r
432
'1,815
' 2 337
' 10, 064 '9,911
' 3, 676 ' 3, 743
' 6, 388 ' 6, 168
' 10, 050 ' 10, 157
' 3, 779
'3,816
' 6, 271 '6,341
' 10, 258 ' 10,341
' 3, 870 '3,912
' 6, 388 ' 6, 429
' 10, 250
3,921
' 6, 329
10, 243
3,911
6,332
10, 286
3,904
6,382
10, 1 26
3, 856
6,270
83, 094
416, 092
63, 912
370, 988
69, 322
331, 708
69, 354
257, 600
49, 888
256 238
53, 402
261, 562
62, 080
340, 248
548
422
604
538
539
445
567
516
863
586
694
722
'698
'527
'753
'805
1, 208 '
43, 673
28, 005
15, 668
' 3, 209 ' 3, 003
'531
' 510
' 2, 678 r 2, 493
' 3,r 069
' 2, 897
' 473
495
' 2, 574 ' 2, 424
'711
'483
' 702
' 756
1, 154
37, 889
18, 376
19, 513
68, 899
367 136
74, 185
345, 196
61,855
312, 168
'643
'515
' 574
'611
' 1, 117
'732
'486
' 77?
' 760
' 1, 128
' 659
'440
'706
'705
' 1, 130
' 615
'426
' 623
' 629
' 1 124 '
31 587
18,724
12, 863
24, 576
11, 847
12, 729
33 460
13. 709
19, 751
29, 135
12, 880
16, 255
' 618
'436
'r 598
608
1 114 '
25 912
11 778
14, 134
' 576
' 412
' 553
' 600
1 066
28 408
1 6, 425
11,983
1 133
1 184
1 156
24 422
12,215
12, 207
21 403
8, 305
13,098
28 554
11. 286
17, 268
83. 193
82. 503
80. 405
80. 757
80. 235
80. 057
79.046
78. 369
78. 810
U32.563
131.717
130.919
131. 186
129.819
129. 734
128. 679
128. 246
127. 400
'594
'588
'593
'502
'559
' 545
'535
'493
'596
'579
'620
'583
'650
r
606
' 534
'507
' 561
'564
' 566
'569
' 564
'542
' 544
'498
459
165
458
456
493
196
464
462
451
209
441
438
680
278
564
611
1,991
10, 069
1,678
8,391
2,028
8, 055
2,777
5,278
2,072
9,123
2,136
6,987
2,099
11,003
3,643
7, 360
2,096
8,545
2,810
5,735
2,093
6, 426
1,273
5,153
2,115
7,042
2, 375
4,667
2,161
6 136
903
5,233
2,163
5,833
1,521
4,312
2,165
4,725
2,168
5,081
1,186
3,895
2,121
5 242
117.5
116.3
114.8
113.2
111.4
110.3
108.9
107.2
107.1
105.7
103. 9
p 105. 2
95.4
95.1
94.9
94. 1
93.9
93.6
93.6
93. 4
93.4
92.7
' 92. 5
J» 92. 5
'741
'818
'736
703
378
691
664
771
364
871
785
'710
644
322
684
670
572
342
494
562
2, 116
308
563
560
2,119
607
332
542
583
2,078
69. 650
69. 560
216
367
758
765
221
370
841
815
208
339
829
767
203
198
174
348
782
726
167
162
r
546
77. 678
' 76. 984 P 77. 638
127. 400 '126.955 P125. 305
686
4,039
r
783
4,459
2,010
543
321
554
564
2,000
1,976
68. 750
70. 160
70. 220
v 69. 721
835
489
644
668
2, 082
2,108
2,170
1 , 960
2, 046
79. 720
79. 990
78. 620
75. 950
72.280
3,150
12, 350
2,925
2 725
11, 125
3,300
12 325
3,000
3 300
11 050
4,075
12, 050
3,200
4,250
10, 000
3, 925
12 550
2 175
3 000
9 275
3, 650
12 050
3,350
4 100
8 525
2. 550
11 200
3,225
3 400
8 300
2,500
10 200
3,000
3 050
8 250
2,950
10 475
3 125
2 700
8 650
2,925
10 550
2,800
2 625
8 850
2,950
10 950
2,900
2 500
9 300
3, 050
11 400
2, 600
2 675
9 275
3,400
11 450
3, 050
3 050
9 275
69, 689
47, 370
74 689
73, 007
96, 183
64, 087
38, 935
77 6559
79 52
101,316
72, 107
34, 901
76, 499
79, 498
98, 317
64, 029
35 952
64 001
63 796
96, 267
81, 136
38, 170
78 298
78 917
93, 902
72, 246
34, 858
76 248
75 726
92, 397
65, 882
32, 517
74 340
70 894
94, 590
59, 585
29 014
69 970
65 148
99, 172
53, 501
26, 382
62 376
54 772
106, 776
57, 261
27 891
62 740
56 850
112,666
54, 281
30, 339
56 559
53, 475
114, 790
83, 202
43 547
66 583
70 303
110, 287
2, 102
69. 670
HARDWOOD FLOORING AND PLYWOOD
Flooring:
Maple, beech, and birch:
3, 625
Orders, new
M bd. ft.
Orders, unfilled, end of month
do
11,800
Production. .
...
do . 3,350
Shipments
do
2,900
Stocks (gross), mill, end of month
do
10, 900
OakOrders, new
do
71,514
Orders, unfilled, end of month
. ._.
do. . 48. 276
Production
do
78, 715
Shipments
...
__
_
do
71, 889
Stocks (gross), mill, end of month
do
94, 501
Plywood (except container and packaging), qtrly. total:
Shipments (market). _ M sq. ft., surface measure '233,692
'216,066
'207 993
'192 516
r
'Revised.
*>Preliminary.
Not entirely comparable with data prior to month noted.
^ Revisions will be shown Inter as follows: Shoes and slippers, production (1958-Senl ember
1959); lumber—production, shipments, stocks, and orders (1957-February 1960); exports and imports (1959). t Effective with the July 1960 SURVEY, price indexes replaces actual prices;
data for January 1947-April 1960 will be shown later. §Not comparable with data through 1958 which cover a different specification.
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
May 10G1
1960
March
April
May
June
July
19G1
August
Septem- October Novem- December
ber
ber
January
February
March
April
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Iron and steel products (excluding advanced manufactures and ferroalloys) :
Exports, t o t a l f 9 t
thous. of short tons.Step] p-nll products*!
do
Scrap!
do
Imports totalf9t
<3f eg] mill products* !
Scrap
do
do
do
760
203
547
757
235
513
1,003
318
675
1.012
383
621
741
331
401
1,194
328
860
907
228
655
953
231
683
1,009
234
733
162
571
770
132
584
«948
147
969
168
780
504
463
13
394
331
19
322
272
14
304
213
17
242
177
18
253
184
15
299
207
15
268
180
12
239
199
11
231
189
17
179
145
19
177
152
14
249
211
20
7,173
4,366
2, 808
7, 437
9. 278
6,270
3,825
2, 445
6,279
9, 270
5,847
3,523
2,324
5,642
9, 475
5,181
3,181
1,999
4,994
9, 661
4, 150
2, 555
1, 595
4,120
9,700
4, 650
2,852
1, 798
4,724
9, 629
4,536
2,736
1,800
4,646
9,514
4,896
2,829
2, 066
4,901
9,513
4. 370
2, 645
1, 725
4,413
9,472
3, 959
2,408
1, 551
4,187
9, 252
4. 164
2,523
1,642
4, 546
8,876
'4,114
' 2, 505
1,608
' 4. 397
' 8. 591
4, 502
1,922
2, 216
7,440
6,873
2,338
11,873
13, 349
3.714
11, 645
12, 816
4,215
' 10, 442 ' 11,034
' 12, 723 ' 11, 176
3,742
4.293
8,789
9,252
3.070
6.423
7, 426
2, 593
3, 959
3, 783
2,011
3,672
1,142
1,527
3,322
1. 099
1,634
3, 268
1.137
1,662
9,906
11,049
6.694
6, 356
849
466
86, 252
' 83, 710
' 9, 581 8, 579
70, 857
67, 645
6,816
6, 484
5,867
6, 362
126
85, 860
8,755
70, 362
6,743
2,660
5,895
89
85, 237
11,282
67, 116
6,839
2. 602
6,218
92
84. 730
14,342
63. 500
6,888
2,448
6, 060
51
83, 235
16,470
59. 887
6,878
55, 831
6,609
93
a 78
Iron and Steel Scrap
Production and receipts, total
thous. of short tons..
TTome scrap produced
do
Purchased scrap received (net)
do
Consumption
total
do
Stock*3 consumers', end of month
do
5, 000
2,914
2, 085
4, 983
8, 612
Ore
Iron ore (operations in all U.S. districts):
Mine production
_ thous. of long tons..
Shipments from mines
do
Imports!
-do
U.S. and foreign ores and ore agglomerates:
4,299
8,084
Peceipts at iron and steel plants
do
11.788
10,433
Consumption at iron and steel plants
do
100
169
Exports! -_
do___
'154,995 ' 52, 431
Stocks, total, end of month
do
'114,516 '15,087
A.t mines
do
' 35, 016
32, 645
At furnace vards
do
5, 463
4, 699
\t U S docks
do
Manganese (manganese content), general imports!
thous. of long tons..
Pig Iron and Iron Manufactures
Pig iron:
Production (excl. blast furnace prod, of ferroalloys)
thous. of short tons..
Consumption
do
Stocks (consumers' and suppliers'), end of month
thous. of short tons__
Prices:
Composite
dol per long ton
Basic (furnace)
do
Eoundry No 2 Northern
do
Castings, gray iron: O
Orders, unfilled, for sale, end of month
thous. of short tons..
Shipments total
do
Eor sale
do
Castings, malleable iron:
Orders, unfilled, for sale, end of month
thous. of short tons..
Shipments total
do
For sale
do
15, 926
16, 293
15, 705
9,740
7,014
8, 060
788
557
824
' 56, 870 r 64, 213 ' 71, 394
' 13,615 ' 12, 446 ' 10, 176
38, 830
55. 787
47. 097
4, 425
5, 431
4,670
13,894
6, 729
1,162
' 78, 947
' 10, 045
62, 953
5,949
2,897
6, 953
77
111
87
66
154
103
100
109
85
89
94
81
7,714
7, 694
6, 760
6, 556
6,331
6,123
5, 261
5,255
4,480
4, 405
4,470
4, 616
4,108
4,274
4,473
4,500
4,138
4,116
3, 841
3,838
4. 039
4,124
3, 051
3, 269
3,537
3, 644
3,758
3. 696
3,617
3, 659
3,710
3,770
3,685
3,611
r> 3, 556
65. 95
66.00
66.50
65.95
66. 00
66. 50
65. 95
66.00
66.50
65. 95
66. 00
66.50
65. 95
66. 00
66. 50
65. 95
66. 00
66.50
65. 95
66. 00
66.50
65. 95
66.00
66.50
65.95
66. 00
66. 50
65. 95
66. 00
66.50
65. 95
66. 00
66.50
65. 95
66.00
66.50
65. 95
p 66.00
p 66, 50
65.95
882
1,144
600
836
1,052
581
782
1,053
589
720
1,050
602
755
803
451
713
859
540
695
900
527
647
905
500
569
836
455
553
749
395
600
760
406
621
702
378
85
86
50
79
71
39
73
69
38
64
73
43
74
50
29
70
59
37
69
63
36
57
64
35
56
63
35
55
57
32
52
58
34
48
51
30
11, 565
140.2
9,778
122. 5
8,830
107.0
7,405
92.7
6. 351
77.0
6, 838
82.9
6, 458
80.9
6,868
83.3
6,172
77.3
5, 840
70.8
6. 416
77.8
6.239
83.7
' 7, 086
85.9
* 7. 585
P95.0
144
110
127
97
127
97
137
107
90
67
102
104
80
103
80
100
78
108
87
96
77
93
72
356. 2
137.9
107. 8
325. 0
116.7
89.7
-311.2
110.3
85.2
301.7
93. 9
69. 6
r 277. 2
'97.2
'73.2
268. 2
89.6
64.0
265. 6
95.1
69. 5
' 263. 4
'89.1
64.4
. 0698
. 0698
.0698
3, 937
4, 514
' 4, 046 * 4, 627
Steel, Crude and Semimanufactures
Steel ingots and steel for castings:
Production _
thous. of short tons
Index
1957-59-100
Steel castings:
Shipments, total
thous. of short tons_.
For sale total
do
Steel forgings (for sale) :
Orders unfilled end of month
do
Shipments total
do
Drop and upset
do
Prices:
Composite, finished steel (carbon)
dol. per lb__
Steel billets, rerolling, carbon, f.o.b. mill
dol. per short ton__
Structural shapes (carbon), f.o.b. mill dol. per l b _ _
Steel scrap, No. 1 heavy melting:
Composite (5 markets) §
dol per long ton
Pittsburgh district
do
264. 8
92.6
' 66. 8
' 293. 9
110.1
82.0
' 293. 4
' 79. 2
'58.2
.0698
.0098
. 0698
. 0698
. 0698
.0698
. 0098
. 0698
. 0698
.0698
95. 00
.01)17
95. 00
. 0617
95. 00
. 0617
95. 00
.0617
95. 00
.0617
95. 00
.0617
P 95.00
P .0617
299.0
88.3
'63.1
r
r
95. 00
.0617
95.00
. 061 7
95.00
.0617
95. 00
. 0017
95. 00
.0617
95. 00
.0617
34. 16
36. 00
33.88
35.00
32.97
33. 50
31. 12
31. 00
31.28
30.50
32.20
30. 50
31.87
30. 50
29. 52
28.50
28.33
27.00
28. 66
27. 00
31. 54
30.00
1,798
1,714
1, 715
1,893
1 , 702
1 , 986
1, 681
1,762
1,619
1,892
1,607
1,847
1,378
1,715
1,295
1,711
1.234
1.604
1.438
1,639
1,529
1.634
363
209
300
r
1 , 504
23, 542
408
232
345
' 1,603
29, 926
424
230
363
' 1.627
32, 199
453
275
399
? 1,377
25, 507
601
409
535
T
1,706
24, 952
553
390
484
' 1 , 570
23, 609
416
272
358
'1,492
20, 486
318
188
272
'1.407
15,419
346
196
299
'1, 224
15, 550
288
169
237
291
109
240
262. 9
96.0
70.2
. 0698
' 33. 04 » 36. 34
32. 00 v 35.00
Steel, Manufactured Products
Barrels and drums, steel, heavy types (for sale):
1 , 871
Orders, unfilled, end of month
thousands,.
1 . 700
Shipments
do
Cans, metal, shipments (in terms of steel consumed),
330
total for sale and own use-_^thous. of short tons__
Food0
do
184
273
Shipments for sale
do
Closures (for glass containers), production
millions.. '! 1,703
Crowns, production
thousand gross__ 24, 302
Steel 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
4.944
5, 072
4, 516
4, 638
4. 983
4, 1 J ( >
4.251
6 272
5,921
4,711
5, 047
7, 966
6. 742
166
184
176
183
171
195
'219
174
180
188
' 239
374
320
324
367
384
397
308
321
321
348
457
447
574
517
388
405
378
378
395
373
478
529
354
484
370
624
755
58
46
64
58
83
51
50
91
76
153
133
149
148
l
Revisions for January and February 1960, respectively (order and units as above): Iron ore stocks—total, 66,166; 60,352; at mi
' Revised.
v Preliminary.
a Subject to revision.
10,035; 11,933; closures, 1,441; 1,478.
tRevised (beginning in the February 1960 SURVEY) to include certain metal manufactures classified by the industry as steel mill products but formerly omitted from the total shown r.
see note marked "*".
9 Includes data not shown separately.
*New series (from Bureau of the Census). Data beginning January 1959 revised (in the April 1960 SURVEY) to include exports of secondary tinplate. Revisions for 1958 for total and «
mill products exports and imports are shown in the March 1960 SURVEY (bottom p. S-32).
O Revisions for 1958-59 are available upon request.
! Scattered revisions for 1957-59 are available upon request.
{Represents the weighted average of consumers' buying prices (including brokerage), delivered, at following markets: Pittsburgh district, Chicago, Philadelphia, Birmingham.
San Francisco.
eExcludes shipments of food cans of the pressure-packing type; such types are included in total shipments.
FRASER
Digitized for
1061
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
SURVEY OF CURRENT BUSINESS
S-33
1961
1960
March
April
May
June
July
August
Septem- October
ber
Novem- December
ber
January
February
March
April
METALS AND MANUFACTURES—Continued
IRON AND STEEL— Continued
Steel, Manufactured Products— Continued
Steel products, net shipments— Continued
Bars and tool steel, total
thous. of short tons._
Bars' Hot rolled (incl. light shapes)
_.do _ _ .
Reinforcing
do
Cold
finished
do
Pipe and tubin^
do
Wire and wire products
do_
Tin mill products
do
Sheets and strip (incl. electrical), total
_do
Sheets' Hot rolled
do_ _
Cold rolled
.
do. ._
Fabricated structural steel:
Orders new (net)
thous. of short tonsShipments
__do
Backlog end of month
do
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production primary domestic thous. of short tons
p]stimated recovery from scrap A
-- do
Imports (general):
Metal and alloys, erudetdo__.
Plates sheets, etc J
do __
Stocks, primary (at reduction plants), end of month
thous. of short tons
Price, primary ingot, 99.5%+O
dol. per lb_.
Aluminum shipments:
ATil! products and pig and ingot (net)t mil of Ib
Mill products total
do
Plate and sheet
do
Castings §
do
Copper:
Production:
Mine recoverable copper
thous. of short tons
Refinery, primary
do
From domestic ores
do
From foreign ores
do__
Secondary recovered as refined
do
Imports (general):
Refined unrefined, scrap©t
do
Refined
do
Exports:
Refined, scrap, brass and bronze ingots
do
Refined
_
__ do
Consumption refined (by mills, etc.)
do
Stocks refined, end of month, total
. do
Fabricators'
do
Price, bars, electrolytic (N.Y.)
dol. perlb__
Copper-base mill and foundry products, shipments
(quarterly) :
Briss mill products
mil of Ib
Copper wire mill products©
do
Brass and bronze foundry products
do
Lead :
Production:
Mine recoverable lead
thous. of short tons
Secondary estimated recoverable© t
do
Imports (general) ore© metal t
do
Consumption total
do
Stocks, end of month:
Producers', ore, base bullion, and in process©
(ABMS)
thous of short tons
Refiners' (primary), refined and antimonial©
thous of short tons
Consumers'^
do
Price, pig, desilverized (N".Y.)
dol. perlb_.
Tin:
Imports (for consumption) :
Qi>P0j
long tons
Bars pigs etcj
do
Estimated recovery from scrap total©
do
As metal
do
Consumption pig total
do
Primary
do
Exports incl reexports (metal)
do
Stocks pig (industrial) end of month
do
Price, pig, Straits (N.Y.), prompt
dol. perlb
Zinc:
Mine production, recoverable zinc
thous of short tons
Imports (general):
Ores and concentrates© t
do
Metal (slab, blocks) t
do
Consumption (recoverable zinc content):
Ores©
do
Scrap, all types
do
Slab zinc:
Production (primary smelter), from domestic and
foreign ores
thous of short tons
Secondary (redistilled) production total
do
Consumption fabricators' total
do
Exports t
do
Stocks, end of month:
Producers', smelter (AZI)
do
Consumers'
_ _ - ._
do
Price, nrime Western (St. Louis)
dol. nerlb__
1,214
1,608
993
679
162
143
610
247
559
2,806
796
1,379
3 ' 383
3 r 312
'386
r
323
170.7
43.0
168.6
36.0
16.8
3.4
883
145
176
698
275
635
3,291
942
861
541
192
120
586
246
567
2, 654
722
1, 357
r
302
'320
803
479
210
106
576
215
654
2,422
579
1,319
r
623
362
183
74
515
195
581
1, 856
440
977
768
465
208
88
543
244
425
2, 075
585
1,026
806
487
229
84
483
224
363
2,039
581
1,004
293
373
'291
'364
'246
T
353
772
453
223
91
559
243
555
1, 964
506
994
r
621
392
148
75
407
182
288
1.695
450
866
669
436
141
86
489
197
577
1,790
485
872
627
402
141
77
425
190
466
1,599
454
743
758
471
1S9
91
544
251
528
1,825
491
847
269
325
'249
r277
'308
'262
'257
'260
296
292
2,392
730
464
176
85
432
204
308
1,845
500
906
r
r
300
'374
'302
r
339
175. 9
33.0
171.4
31.0
177. 6
29.0
173.0
33.0
162.9
31.0
167. 0
32.0
161 •?
29 0
165. 5
28.0
161.4
29.0
138.6
152. 0
7.6
3.4
11.1
3.0
15.2
3.3
12.9
2.0
14.4
2.6
10.5
2.7
16. 1
3.2
14.4
2.7
11.3
3.4
10.8
3.3
8.6
3.5
15. 5
4.7
115.0
.2810
139.1
. 2810
148. 6
.2810
170.0
.2810
203.6
.2810
211.7
i . 2600
225. 9
.2600
248.4
.2600
257 1
. 2600
259. 5
. 2600
291.4
. 2600
287.4
. 2600
278. 3
. 2600
433.1
267.3
144.1
72.2
366.8
247.6
133.6
61.8
395.6
271.4
147.7
60.3
412.4
278.4
150. 4
60.1
355.5
253.1
143.0
45.7
422. 5
261.4
139.7
58.8
358.8
253.2
134.0
62.1
369.8
246.4
128.4
63.8
369 7
236 9
127 8
63.4
378.5
226. 4
121.6
63.6
341 6
241.3
131.9
r
60.8
348.8
231.9
124.1
57.1
96.3
132. 4
105. 2
27.2
19.9
97.7
144.9
109.0
35.9
22.2
98.4
140.9
107.9
33.0
21.8
95.2
142.7
108.1
34.5
24.8
86.3
124. 7
88.3
36.4
23.4
90.9
135.6
97.3
38.3
23.0
97.5
139.4
101.0
38.4
24.6
100. 5
128.2
93.4
34.8
25.6
98.2
131.9
99 6
32.3
20.5
99.1
133.3
101.6
31.7
21.3
97.3
127.4
89.3
38.1
24.7
'88.3
120.0
86.0
34.0
18.7
99.8
140.1
107.3
32.7
21.5
52.8
18.0
44.0
10.1
29.7
' 7.1
52.6
7.5
34.7
6.8
55.2
9.0
36.3
7.7
48.3
6.6
26. 7
7.1
32.3
6.2
61.9
6.0
33.1
4.8
28.4
5.2
34.7
21.2
139.4
127.3
80.3
.3261
46.2
31.3
114.6
155.4
103.5
.3260
64.2
50.8
116.4
157.1
99.2
.3260
57.8
38.8
121.2
174.1
100.7
.3260
64.5
45. 0
71.7
196.8
117.2
.3260
78.4
58.7
120.8
198.0
110.2
. 3260
60.5
42.9
125.8
187.6
112.8
.3260
54.7
37.2
114.0
206. 4
99.8
. 3060
47.2
30.5
108.9
219.0
100.4
.2960
63. 5
47.0
108.8
228.0
100.2
.2960
66.1
49.7
p 100. 0
v 228. 8
P96.8
. 2906
62.0
44.8
p 100. 1
p 229. 7
^94.5
.2860
77.4
60.7
p 122.0
p 213. 0
p 92. 6
.2860
493
386
243
r
446
364
196
482
393
225
1
.2600
. 2860
446
361
191
458
378
198
25.5
38.5
35.6
91.1
23.6
37.8
28.1
83.4
20.5
41.3
26.4
90.8
20.0
41.0
30.0
87.5
16.6
33.5
33.4
76.8
20.2
41.0
35.7
90.9
18.6
38.1
24.9
86.9
18.2
41.0
22.8
86.0
18.0
38 7
26.1
83.3
19.2
36.3
26.6
77.2
23.2
36.9
25.8
83.7
'20.8
35.2
26.8
79.7
23.7
135.0
133.0
139.9
140.5
143.8
144.5
150.9
156.0
146.9
145.1
137.9
129.5
125. 7
107.5
126.7
42.4
.1200
116 5
127.3
41 0
.1200
121.3
128.2
38 1
.1200
128.1
120.1
39 8
. 1200
134. 1
125.8
42 8
. 1200
136 5
128.4
44 0
.1200
136 7
118.1
45 6
.1200
139 5
110.5
43 6
.1200
151 9
107.7
42 2
.1200
158.2
94.4
43 7
.1138
169 2
94.5
42 8
.1100
183.0
91.8
41.6
.1100
.1100
861
3,860
2,115
240
7,875
5,190
122
23, 355
1. 0009
766
3,575
1, 805
230
7,410
4. 960
19
22, 445
.9924
1,267
3, 155
1,830
245
7, 705
5, 310
28
21, 930
.9954
1,801
4, 175
1,960
270
7, 685
5, 220
103
20, 775
1. 0131
1, 160
2, 149
1, 500
240
6,520
4, 655
2
20, 650
1. 0349
1,555
3,780
2,020
275
6,995
4, 635
39
20, 370
1. 0285
929
2,872
1,800
290
6,030
3, 760
58
22, 145
1. 0223
1,001
3,262
1,815
230
5,600
3,290
19
22, 910
1. 0328
1,226
512
3,108
2,523
1,725
1 860
225
265
4. 915
5, 475
2, 845
3, 035
79
22
22, 790 - 24, 798
1.0114
1. 0282
802
2,058
1,750
225.
5,965
3, 680
125
23, 935
1. 0038
1,188
1,998
319
2, 261
5, 505
3, 570
17
22,610
1.0098
1. 0340
37. 5
.1100
305
42.8
41.4
40.9
39.3
37.1
34.0
30.5
27.9
27.8
35.2
40.3
'38.8
42.6
45.2
12.1
39.2
7.4
49.2
6.8
32.8
15. 5
40.7
3.7
35.7
8.1
40 6
17.3
30.4
7.9
35. 5
11.2
27. 1
12.2
30.0
6.2
29.7
7.6
39. 4
16.5
8.1
21.0
8 2
16.1
7.2
17.7
6.2
18.7
6 6
15.0
5.3
18.2
4.8
19.6
6.0
19.9
5. 6
17.8
8.5
17.3
8.1
]8. 5
7.4
16.2
82.3
3.8
86 5
5.9
79 3
3.9
71 2
4.7
74.7
4.5
70 5
7. 1
72.8
3.9
73 9
4.2
70.0
3.7
55 2
2.4
59.5
4.4
68. 5
7.6
56.1
3.9
67 0
9. 1
58.7
4.3
67 8
4.8
56. 9
4.0
62.7
7.8
69.4
3.5
62.2
14.2
74.0
3.4
63.8
9.2
66.3
3.9
60.6
6.1
1.0708
6.4
182.1
136.6
147.9
206.4
165.0
187.7
207. 1
192. 5
190.8
215.0
200.6
190.3
222.9
219.3
100.2
62. 4
60.2
96.9
85.8
74.2
65.3
66.1
72.3
67.5
69.9
68.3
2
.1300
.1300
.1248
. 1153
.1300
. 1300
. 1300
. 1300
.1150
.1150
.1300
. 1300
. 1300
2
' Revised.
p Preliminary.
1 See note marked "O".
Average based on actual market days; excludes nominal prices for other days.
' Monthly data (back to January 1955) for
orders and shipments have been revised to conform to results from the 1958 Census of Manufactures; revisions for January and February 1960 (in order and units as above): January, 247;
235; February, 323; 271.
© Basic metal content.
A Effective with the February 1960 SURVEY, data include estimates for nonreporting companies and are expressed in metallic content (including alloying
constituents); aluminum content is about 93 percent of metallic content.
O Effective August 1960, price refers to aluminum formerly called "processed pig" and now sold as "unalloyed ingot"; January-July 1960 price comparable with August 1960, $.2600.
§T)ata for 1958 have been adjusted to industry totals based on the expanded survey of producers introduced in January 1959; revisions for 1958 are shown in the January 1960 SURVEY.
t Revised effective with the February 1960 SURVEY to include monthly estimate of lead recovered from nonreporting secondary smelters and lead recovered from copper-base scrap; revisions
for 1958 are shown in the February 1960 SURVEY.
cfConsumers' and secondary smelters' stocks of lead in refinery shapes and in copper-base scrap.
{Scattered
revisions for 1957-59 are available upon request.
SURVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
M a r IfHil
I960
March
April
May
June
July
1961
DecemAugust SeptemOctober November
ber
ber
J
;',ry'
^ Mi"^
A,,ril
METALS AND MANUFACTURES— Continued
HEATING EQUIPMENT, EXCEPT ELECTRIC
Radiators and convectors, cast iron:
Shipments
mil. of sq. ft. of radiation.
Stocks, end of month
do_ __
Oil burners:A
Shipments
thousands-Stocks end of month
_-do
Stoves and ranges, domestic cooking, incl. Imilt-Ins: Ac?
Shipments total
thousands
Coal and wood
do
Gas (incl. bungalow and combination)^
do
1.5
4.2
1.2
4.6
1.2
4.9
1.5
5.0
1.3
4.3
1.8
3.8
2.1
3.4
1.9
2.8
1.5
2.7
1,0
2.8
1.0
2.9
1.2
2.9
35.4
55.2
34.6
61.6
36.6
69.1
46.9
65. 8
34.9
66.4
46.6
58.2
64.6
49.4
64.6
45.1
40.3
41.6
29. 2
44.2
42.0
44.1
36.9
41.5
2.9
171.9
164.9
3.0
156.4
5.5
152.6
3.6
141.6
4.4
174.4
3.4
166. 8
4.2
3.3
105. 9
3.6
162.8
4.4
178.7
4.7
169.3
4.2
144. 5
2.5
117.9
2.2
114.8
2.6
Stoves, domestic heating, shipments, totalAt — do
Coil and wood
do
Oasf
do
113. 0
13.7
70.8
28.6
110. 5
16.3
61.3
32.8
116.5
21.0
69.8
25.8
186.7
24.4
116.0
46. 3
208. 6
25.0
142. 9
40.7
253. 6
36.7
167. 4
49.5
246.7
44. 6
150.5
51.6
262.1
45.1
171.6
45.4
172.3
27.7
131.1
31.4
85. 6
10.1
47.3
28. 2
68.3
8.0
41.2
19.2
71.5
9.3
39.3
23.0
Warm -air furnaces (forced-air and gravity air-flow),
shipments, total At
thousands..
Gas
do
Oil
do
Solid fuel
do
\Vater beiters gas shipments
do
82.8
66.7
14.7
1.4
230.8
86.8
70.2
15.6
1.0
203.2
88.5
70. 5
16.7
1.3
192. 7
107.4
86.6
18.9
1.9
237. 9
99.2
78.1
18. 7
2.4
240.7
132.0
101.9
26.5
3.6
262.1
147.5
109.4
33.7
4.4
212.5
139. 7
104.2
31.5
4.0
179.5
99.9
76.8
20.8
2.3
161.3
73.3
59. 2
13.0
1.1
174.0
76.6
61.6
14.1
.9
213 9
76.4
62.4
12.8
1.3
MACHINERY AND APPARATUS
Blowers, fans, and unit heaters, quarterly totals:
TT it b
f
'
rl
r
do
Foundrv equipment (new), new orders, net
monthly average shipments, 1947-49=100..
Furnaces, industrial, new orders, net:
Electric processing
mil. of dol
Fuel-fired (except for hot rolling steel)
do
Industrial trucks (electric), shipments:
Hand (motorized)
number..
Rider-type
do
Industrial trucks and" tractors (gasoline-powered),
shipments
number..
Machine tools (metal-cutting and metal-forming):
New orders (net) total
mil. ofdol.
Domestic
do
Shipments total
do
Fstimited backlog (metal-cutting only)
months
Other machinery and equipment, quarterly shipments:
Construction machinery (selected types), totaU9
mil. of dol..
Tractor shovel loaders, integral units only (wheel
Farm machines an <T equipment (selected types),
excluding tractors
mil of dol
Tractors, wheel (excl. garden and contractors' offPumps (steam, power, centrifugal, and rotary), new
r
T 44. 7
20.3
38. 5
20.4
36. 0
21.7
' 35. 8
23.4
159.9
97.9
159. 0
164.8
80.0
92.4
158.1
81.7
106. 5
101.2
123.7
81.8
1.1
5.6
1.1
6.9
1.3
3.1
1.1
1.0
1.5
1.2
1.1
4.4
1.2
1.7
1.2
3.5
.8
2.1
1.2
.4
.8
4.5
.9
1.9
1.0
2.6
564
481
512
484
468
496
507
523
499
502
347
370
465
508
394
506
374
463
342
449
375
343
386
373
394
499
2,722
2,118
1, 968
2,087
1, 523
1,624
1,867
1,569
1,655
1, 628
1,318
1,595
1. 914
61. 95
47.60
64. 50
54. 95
4.8
51.85
40.30
55. 10
45. 05
4.5
49. 95
32.40
56. 35
44. 75
4.3
55. 10
35.75
63.10
51. 00
4.0
42. 95
28.35
51.30
41.40
3.9
56.85
42.50
47.90
37.70
4.1
52.30
31.85
53.95
40.25
4.3
56. 20
42.65
51. 35
35.40
4.3
49. 95
34.45
48. 55
32.30
4.4
59. 00
35. 60
61. 35
40. 95
4.3
56. 10
37. 65
45. 50
31.40
4.3
* 46. 40
rr 33. 25
45. 65
'31.40
4.5
p 69. 55
P 51.05
p 55. 00
p 38. 85
v 4.9
175. 4
48.1
9.3
217.1
2 18. 8
222.0
248.3
2 60. 3
2, 260
1, 450
148.2
116.2
i 270. 1
86.9
16. 3
223.2
59.7
15.6
308.0
79.9
23.9
54.4
66.2
58.8
44.4
227.3
234.4
167.1
107.0
52.0
97 3
243.0
2.822
2, 761
114.4
106. 5
109. 4
99.2
128. 1
124.3
254.6
223.5
1,521. 7
3 405. 5
242.5
228.9
1 , 090. 1
367. 9
257.9
227. 6
1,115.0
444 4
117.5
7.3
74.3
6.8
6.7
8.3
6.8
1,650
2. 072
2,131
ELECTRICAL EQUIPMENT
Batteries (automotive replacement only), shipments
1,877
1, 545
thousands..
Household electrical appliances:
Ranges (incl. built-ins), domestic and export sales
r
127.9
thousands. - r M 5 7 . 7
148.6
145. 7
Refrigerators and home freezers, output*. .1957=100..
Vacuum cleaners (standard type), sales billed
339.9
278.4
thousands.305.6
235.8
Washers, sales billed (domestic and export)©. .do
3
13,667. 6 1, 230. 3
Radio sets production §
do
549. 5
422.6
Television sets (incl. combination), prod. 5 . . . do. _
Electron tubes and semiconductors, factory sales
91.8
77.4
mil. ofdoL.
Insulating materials and related products:
Insulating materials, sales billed, index
140
168
1947-49= 100. .
18, 808
Steel conduit (rigid), shipments.
..thous. of ft.. 20, 505
Motors and generators, quarterly:
New orders, index
1947-49=100-.
Polyphase induction motors, 1-200 hp:
New orders, gross
thous. of dol_.
Billings
do
Direct current motors and generators, 1-200 hp:
Billings
do
r
118.5
127.5
r
127. 2
122.3
265. 6
245.8
243.9 3 277.0
1,551.
5
1, 277. 0
442. 2 3 518. 9
2,550
2,708
' 102. 9 «• 123. 4
64.8
96.8
223.0
217.7
890.4
268.9
280. 6
296. 5
1,048.4
462. 3
r 144. 0
89.5
3
2,834
r 129.
2, 634
1
r 119.4
91.5
87.9
301.9
290.1
280. 6
352.7
305. 8
275.3
13 ,945. 1 1. 727. 6 1, 468. 8
678. 9
500.0
429.8
r
3
78.0
88.0
72.9
87.6
91.0
85.0
79.9
77 2
134
23, 976
152
27.717
101
24, 562
131
4 26, 815
142
28, 410
124
28, 707
123
23, 620
130
18, 274
180
176
158
134
43, 151
41,921
44. 981
44, 700
39, 958
40. 489
35, 070
35. 935
8,111
6,975
6, 768
7.655
6, 648
5, 956
5. 966
5, 669
r
2
r
350.0
305. 6
'3 1,384.1
'3 497.5
72 0
73.4
92.6
118
22, 597
118
4 21,091
* 28, 487
10. 754
2 13, 102
2
1, 876
2
1.114.1
f 410.4
2, 514
2
r Revised.
•» Preliminary.
1 See note "J".
Data are for month shown.
s Represents 5-weeks' production.
* Effective with August 1960, February 1961, and March H»f.i,
data are included for one additional company.
« Revisions for January and February 1960 (thous.): 116.0; 144.5.
ABeginning January 1959, industry estimates are based on revised inflating factors and are not strictly comparable with earlier data.
c?Includes data for built-in gas-fired oven-broiler units; shipments of cooking tops, not included in figures above totaled 20,500 units (4-burner equivalent) in January 1961.
fRevisions for gas heating stoves (January 1958-May 1959) and warm-air furnaces (January 1957-May 1959) are available upon request.
JData beginning 1st quarter 1960 for construction machinery are not strictly comparable with data for earlier periods. See corresponding note in March 1961 SURVEY.
*New series (from Board of Governors of the Federal Peserve System); monthly data for 1947-1958 are available upon request.
9 Includes data not shown separately.
© D a t a exclude sales of combination washer-dryer machinesfsuch sales (excluding exports) totaled 10,900 units in March 1961.
SRadio production comprises home, portable battery, automobile, and clock models; television sets include combination models. Data for March, June, September and December 1900
and March 1961 cover 5 weeks; all other months, 4 weeks. ©Revisions for 1958 are in the April 1960 SURVEY.
SUEVEY OF CURRENT BUSINESS
May 1961
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
S-35
1961
1960
March
April
May
June
July
August
Septem- October November
ber
December
January
February
March
April
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production
thous. of short tons
Stocks in producers' storage yards, end of mo.-do
Exports
do
Prices:
Retail, stove, composite
dol. per short ton-Wholesale, chestnut, f.o.b. car at mine
do
Bituminous:
Production
thous. of short tonsIndustrial consumption and retail deliveries, total 9
thous. of short tons_.
Electric power utilities
_ _ _ -do
Railroads (class I)
do
Manufacturing and mining industries, totaL.do
Coke plants (oven and beehive) _-. _ _ d o _ _
Retail deliveries to other consumers
do
Stocks, industrial and retail dealers', end of month,
total
thous. of short tons_
Electric power utilities
_ _ --do _
Railroads (class I)
do
Manufacturing and mining industries, total- .do
Oven-coke plants _
do
Retail dealers
do
Exports t
do
Prices:
Retail composite
dol per short ton
Wholesale :
Screenings, indust. use, f.o.b. car at mine- -do
Domestic, large sizes, f.o.b. car at mine
do-_-
1,680
294
90
1,231
283
110
1,262
333
60
1, 437
317
154
1,140
290
85
1,637
336
137
1,518
339
149
1,612
319
154
1.626
327
176
1,724
199
110
1,803
110
134
28.18
14. 651
28.18
13. 433
27.16
13. 188
27.16
13.188
27.28
13.608
27.33
1 3. 608
27.34
14.098
27. 55
14. 098
27. 64
14.098
27.88
14.098
28.34
14. 420
39,102
34, 969
36, 254
33, 605
25, 275
36, 449
34, 454
35, 257
33, 352
32, 846
32, 570
r
28, 970
29, 485
39, 156
16, 099
251
18, 532
9,107
30, 853
13,105
185
15, 747
8,181
29, 707
13, 155
145
14, 941
7, 603
27, 983
13, 211
111
13, 424
6, 529
26, 587
13, 373
99
11,878
5,720
28, 824
14, 698
107
12, 282
5,672
27, 453
13,658
112
11,590
5, 169
30,159
14, 304
192
12, 929
5, 576
30, 537
14, 654
175
12, 905
5,035
34, 409
16,673
213
13,623
4,917
34, 702
16, 903
r
30, 230
14, 730
30, 469
14, 773
13,727
5,035
r r1 2, 403
4, 792
13,421
5, 345
4,269
1,729
1,323
1,098
1,119
1,616
1, 978
2,609
2,729
3,886
4,069
3,097
2,273
66, 955
43, 345
195
22, 964
11,148
68, 153
44, 356
176
23, 136
11,324
71, 364
46, 575
168
24, 053
11,916
73, 928
48, 275
178
24, 770
12, 391
70, 235
47, 517
158
21, 823
10, 343
72, 662
49, 334
162
22,380
10, 742
74. 458
50, 813
163
22, 679
10,918
76, 206
52,215
164
23, 006
11, 083
76, 730
52, 435
180
23, 283
11.204
73, 244
49, 937
190
22, 451
11,029
69, 194
47, 157
66, 463
45, 245
65, 183
44, 627
21,477
10, 484
20, 683
9,789
20, 158
9, 551
1,756
64
89
' 1, 468
98
107
28. 56
28. 56
14. 420 p 14.420
451
485
568
705
737
786
803
821
832
666
560
535
398
2,147
3,364
3,452
3,743
3,308
3,888
3,448
3,763
2,882
2,322
1,867
1,868
1,959
17.21
17.21
16.71
16.69
16.78
16.87
17.08
17.21
17.24
17.27
17.30
17.30
17.30
5. 182
7. 953
5. 166
7.331
5.166
7.300
5. 161
7.406
5. 156
7.463
5. 156
7.619
5. 149
7.769
5.149
7.769
5. 149
7.869
5. 149
7.900
5. 149
7.922
5. 149
7. 922
P 5. 149
P 7. 829
134
6,243
799
102
5, 654
809
79
5, 271
829
55
4,543
1,042
50
3,975
1,132
72
3,923
1,250
58
3,592
1,166
52
3,879
1, 153
51
3,487
1,145
52
3,376
1,202
50
3,494
1,260
'61
3, 296
1,121
70
3, 654
3,673
2, 504
1, 169
1,191
35
3, 752
2,610
1,142
1,196
20
3,783
2,674
1,109
1,178
24
3,892
2,811
1,081
1,167
37
4,076
2, 964
1,112
1,199
37
4,271
3,122
1, 150
1,202
32
4, 452
3,280
1,172
1, 208
31
4, 629
3,437
1,192
1,194
16
4,707
3,494
1,212
1,174
35
4, 757
3,477
1,280
877
11
4,822
3, 485
1,338
933
21
r 4, 781
r
3, 401
1 , 380
933
26
4,697
3, 285
1,412
30.35
30.35
30.35
30.35
30.35
30.35
30.35
30.35
30.35
30. 35
30. 35
30.35
30.35
Crude petroleum:
1,795
Oil wells completedt
number
2.97
Price at wells (Oklahoma-Kansas)
dol. per bbLRuns to stillst
-- thous. of bbl 245, 423
82
Refinerv operating ratio
percent of capacity
1,502
2.97
238, 809
82
1,733
2.97
246, 847
82
2,075
2.97
243, 773
84
1^813
257^522
86
2,108
2.97
255, 748
85
1,734
2.97
242, 999
84
1,875
2.97
245, 157
81
1,835
2.97
236, 789
81
2,426
2.97
248, 928
83
1,880
2.97
259, 349
87
1 512
2.97
236, 756
88
p 2 . 97
COKE
Production:
Beehive
thous. of short tons.Oven (byproduct)
_ _ __
do
Petroleum coke§
do
Stocks, end of month:
Oven-coke plants totalt
do
At furnace plantst
do
At merchant plants _ _.do
Petroleum coke
do
Exports
do
Price, oven foundry coke (merchant plants), f.o.b.
Birmingham, Ala
dol. per short ton
1,197
28, 660
41
30. 35
PETROLEUM AND PRODUCTS
\11 oils, supply, demand, and stocks:cf
New supply, totalt
-- thous. of bbl
Production:
Crude petroleumt
do
Natural-gas liquids, benzol (blended), etc. t do
Imports:
Crude petroleum _ ___ _
do
Refined productst- - _ - __
_ _ do
Change in stocks, all oils (decrease, — )
do
Demand, totalt
-- -- Exports:
Crude petroleum. _
_
Refined productst
Domestic demand, total 9 1
Oasolinet
Kerosene t A
-Distillate fuel oilt
Residual fuel oilt
Jet fueltA
LubricantstAsphaltt
- - - Liquefied gasest--
do
_.
do
_ _ _ _ --do do
do
do
do
do
do
do
do
do
.
Stocks, end of month, total
Crude petroleum
Natural -gas liquids _ __
Refined products _ _ _
.
do_-_
do
do
do
310, 214
297, 789
291, 377
291,045
291, 271
296, 027
290, 536
297, 866
300,155
309, 742
321,640
291, 399
220, 977
29, 979
211, 132
28, 166
212,296
27, 799
208,161
26, 671
212, 645
27, 884
215, 145
28, 621
209, 119
28, 092
215, 687
29, 732
213,992
29,519
221,653
31,509
223, 497
30, 974
204, 274
28, 240
29, 292
29, 966
-34, 532
33, 877
24, 614
14,611
30, 571
20, 711
16, 307
32, 730
23, 483
2,854
31, 191
19, 551
14, 219
32, 768
19,493
8,543
32, 691
20, 634
14, 347
31, 458
20, 989
14,810
29, 980
33, 688
28, 677
26, 664
33, 481
27, 903
-4, 678 -48,020 -25,119
28, 768
30,117
-7,223
344, 746
283, 178
275, 070
288, 191
277, 052
287, 484
276, 189
283,056
304, 833
357, 762
346 759
298 622
260
6,302
338, 184
120, 497
15, 958
87, 137
60, 701
270
6,477
276, 431
129, 094
7, 668
45, 385
45, 840
127
6,421
268, 522
129, 952
6,176
40, 450
40, 246
436
7, 155
280, 600
138, 909
6, 665
39, 755
39, 332
248
5,742
271,062
135, 838
8, 067
34, 919
36, 834
89
5 , 938
281, 457
138,371
8,433
37,137
36, 240
234
5, 393
270, 562
128, 530
8,864
39, 683
37, 343
352
5, 641
277, 063
126, 242
10, 475
45, 160
40, 849
0
5,164
299, 669
124,855
12,776
61,556
48, 509
512
5,326
351,924
124,937
18, 769
95, 544
57. 051
135
5,014
341,610
114,455
18,134
96, 362
58, 886
295
4,299
294. 028
105, 589
15,111
74 907
53, 078
8,903
3, 646
3,769
23, 364
7,887
3, 604
6,673
15, 899
8,752
3,898
9,478
14, 601
9, 255
3,699
13,411
14, 687
8,732
3,791
13, 848
14, 899
8,254
3,692
15, 581
17,946
8.723
3,483
13, 727
15,275
8, 269
3,479
11,099
17, 992
8,472
3,474
6,827
20, 846
8, 265
3, 265
3,981
25, 540
7, 986
3.599
3,077
25,713
7.113
2,801
2,294
20, 639
745, 742
260, 923
18,916
465, 903
760, 353
266, 178
22,215
471, 960
776, 660
261,312
26, 400
488, 948
779, 514
257, 301
29, 380
492, 833
793, 733
242, 745
32, 467
518, 521
802, 276
234, 091
33, 224
534, 961
816. 623
231,966
35. 639
549, 018
831,433
232, 990
36, 122
562,321
826, 755
239, 528
33, 993
553, 234
778, 735
239, 800
28, 931
510, 004
759, 439
230. 769
23, 982
498. 688
752,216
232, 063
23, 195
496, 958
Refined petroleum products:
Gasoline (incl. aviation):
126, 866 123, 449 125, 226 126, 905 133, 485 132, 884 127. 564 126, 561 123, 873 130, 787 131,741 115,785
Product iont
_
do
Exportst
_ _
_ -.
do
1,284
1,607
1,436
1, 307
1,115
1.044
1,160
1,107
747
1, 130
745
519
Stocks, end of month:
209, 854 202, 610 198, 081 185, 655 182, 193 177, 795 177, 667 177,660 175.419 181,169 197.874 208, 759
Finished gasoline
do
Unfinished gasoline .__ . _.
_ _ do- 12, 837
12, 428
13,490
12, 797
13, 828
11,978
12,527
13, 307
12,014
13, 993
13, 605
13, 430
Prices (excl. aviation):
Wholesale, refinery (Okla., group 3)--dol. per gaL_
.113
115
.115
.105
.120
.125
.125
.125
.125
.125
.125
.125
P. 125
Retail (regular grade, excl. taxes) , service stations,
55 cities (1st of following mo.)
dol. per gal_.
.202
.207
.212
.218
.208
.218
.216 •
.213
.215
.214
.211
.201
.211
••Revised.
*> Preliminary.
9 In eludes data no ; shown s eparately
tRev isions for 1958 will be showii later as follows: Oil wells complete!1 (August and Sep tember); domestic
demand— jet fuel (February-September); lubricants (Ja nuary-Ai igust); fo r all other indicatec 1 items (.1anuary-September ).. Biturranous cor 1 exports for 1959 1lave been revised i s follows
'thons . short tnnsV Tnlv 2 ,fiRO- A n mist , 4 ,003- SontomVi or , 3 , M 9 - onrl "T)r>nn -tnVinr- , '1 ,.8 •'Q
STn
§ Includes nonmarketable catalyst coke.
cfData for Alaska and Hawaii are included as part of domestic supply and demand beginning with January 1959 and January 1960, respectively: appropriate amounts for these States
are reflected in data for all series affected. Data beginning 1960 for jet fuel and kerosene are not comparable with earlier data because jet fuel for use in commercial aircraft is now classified
with kerosene; formerly, this product was reported primarily as "jet."
ASee last sentence of note "cf."
SURVEY OF CURRENT BUSINESS
S-36
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
May 1961
1960
March
April
May
June
July
1961
August
!
Septem- October Novem- December
ber
ber
Janu
ary
February
March
April
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products— Continued cf
Aviation gasoline:
Production
_
thous. of bbl_.
Exportst
do
Stocks, end of month
do
Kerosene :§
Production
do
Stocks end of month
do
Price, wholesale, bulk lots (N.Y. Harbor)
dol. per gal__
Distillate fuel oil:
Production
thous. of bbl
Exports!
do
Stocks end of month
_ do
Price, wholesale (N.Y. Harbor, No. 2 fuel)
dol. per gaL_
Residual fuel oil:
Production
thous. of bbl__
TmportsJ
do
Exportst
do .
Stocks end of month
do
Price, wholesale (Okla., No. 6 fuel) — -dol. per bbl_.
Jet fupl:§
Production
thous. of bbl_
Stocks end of month
do
Lubricants:
Production
_
do
ExportsJ
do
Stocks end of month
do
Price, wholesale, bright stock (m incontinent, f.o.b.
Tulsa)
dol. per gal__
Asphalt:
Production
- thous. of bbl._
Stocks end of month
do
Liquefied petroleum gases:
Production
do
Transfers from gasoline plants!
- do
Stocks Cat plants, terminals, underground, and at
refineries) end of month
thous. of bbl
9,780
863
14,319
9, 145
1,229
14, 274
9.521
1,084
13, 848
9,018
953
13, 943
9, 374
888
12. 826
10,017
977
12, 608
9,666
915
12, 105
9,453
914
12. 714
8,994
564
13,585
9, 606
506
13,938
9, 908
833
13, 058
8. 582
302
13,002
11,353
18, 440
9, 745
20, 547
9, 853
24, 217
9, 759
27, 354
11, 164
30, 499
11,397
33, 379
10, 776
35, 408
11,993
36, 977
12, 401
36, 722
13,376
31 , 445
13,857
27, 365
12,040
24, 471
.105
.105
.105
.102
.102
.102
.102
.105
.101
.101
i .109
.117
55, 090
1,229
998
73, 948
52, 300
1, 520
779
81,755
53, 841
1,342
1, 176
95, 461
53, 338
1,148
1,163
109, 174
56, 773
796
916
131,044
58, 081
773
751
152, 158
54. 928
1, 005
484
168, 235
56, 262
897
580
180, 071
54. 877
621
556
173.913
59, 209
1,097
641
138,455
64, 433
2,096
708
108, 097
63, 248
1,054
329
97, 298
.095
.095
.095
.092
.092
.092
.092
.095
.091
.091
i .099
.107
p. 105
31,065
25, 790
1, 767
40, 503
1.50
26, 410
19, 567
1,688
39, 285
1.50
26, 072
15, 590
1,484
39, 628
1.50
25, 297
17,098
1,967
41,074
1.80
26, 265
13, 955
875
43, 848
1.80
26, 125
14, 966
1,888
47, 177
1.80
25, 779
15, 523
1,357
50, 136
1.80
25, 755
15, 976
1, 283
50, 003
1.80
27,116
21. 885
1 , 304
49. 525
1.80
30, 873
22, 780
1,515
44, 870
1.80
29, 894
27, 866
1,176
42, 934
1.80
27, 758
25, 691
1,014
42, 635
1.80
pi. 80
7,272
6,386
7,437
6,556
7,338
6,810
7,894
6, 753
7, 528
6,892
7. 796
7,343
6,961
6,431
6,898
6,034
7,291
6.020
7,269
6, 456
6,709
5,991
6, 674
6,417
5.027
1,333
9, 637
5, 052
1,422
9, 665
4, 953
1,318
9,404
4,921
1, 559
9, 068
5,232
1,478
9,032
4, 689
1,088
8,942
4,944
1, 258
9, 149
4.907
1,386
9,194
5. 094
1. 353
9. 463
5,061
1,389
9, 874
4,716
1,045
12.376
4, 723
1.508
12, 791
.250
.250
.260
.260
.260
.260
.260
.260
.260
.260
.260
.260
4,769
15, 266
7, 719
16, 830
9,449
17, 037
11,042
15,760
11, 776
14, 259
12,114
11.284
11,147
9,110
9,741
8,141
6,814
8.593
5,191
10,142
4,979
15, 200
4,529
17. 647
6, 990
16, 377
6,591
9,631
6, 307
8,571
6, 604
8, 409
6,747
8,701
6,716
11, 601
6,229
9,345
5,997
12, 129
6.128
14, 953
6,732
18, 974
6,947
18, 977
6,413
14, 481
13, 793
17, 382
21,594
24, 836
28, 633
29, 683
32, 036
32, 578
30, 558
25, 536
20, 744
20, 020
- 5, 334
- 4, 066
1,743
1,403
' 2, 663 r 3, 591
- 6, 056
2,006
r
4, 050
r 6, 077
2,079
r
3, 998
-6.817
2,567
r
4, 251
- 6, 829
- 2, 677
- 4. 151
- 6, 021
2,299
- 3. 722
4, 351
1, 656
2, 695
2,000
775
1,224
1,665
655
1,010
3,797
1.428
2,370
62
106
1, 386
80, 410
72
132
2,080
- 88, 881
78
112
1,739
-91,925
74
51
695
94, 572
45
44
35
45
65
73
52,990
35, 189
59, 430
3,400
3, 222
6, 212
3,499
3, 576
6,129
Asphalt and tar products, shipments:
Asphalt roofing total
thous. of squares-- ° r 3, 791
1,417
Roll roofiner and cap sheet
do
« - 2, 374
Shingle^ all types
do
56
do
72
do
764
thous of sq ft
short tons.. « '74, 233
\sphalt siding
Insulated siding
Asphalt board products
Saturated felts
P. 115
48
89
1. 548
' 67, 900
r
84
96
101
142
125
117
1,690
1, 947
1,828
' 99, 144 ' 93, 986 r 86, 823
r
r 4, 592
1,688
2, 903
r
r
84
82
727
78, 706
r
r
v. 260
PULP, PAPER, AND PRINTING
PULPWOOD AND WASTE PAPER
Pulp wood :
Receipts
Consumption
Stocks end of month
Waste paper:
Consumption
Stocks end of month
thous of cords (128 cu. ft)
_ do
do
3,432
3,498
5,406
3,199
3,335
5,285
3.183
3,469
4,954
3,442
3, 445
5,083
3,282
3.124
5,185
3,791
3, 545
5,449
3,624
3,311
5,795
3,738
3,588
5,967
3,249
3,358
5,891
3,032
2,966
5,948
3,449
3,400
6,471
thous. of short tons
do
778.5
552.5
753.1
556.8
770.4
540.0
781.8
538.8
651. 2
543.8
783.1
541.7
759.4
537.7
770.1
544.0
718.9
547.9
751.8
561.3
711 7
519.2
677 2
514.8
762.2
518.0
WOOD PULP
Production:
2, 175. 9
Total all grades
thous of short tons
95.3
Dissolving and special alpha
do
1,255.9
Sulfate
do
218.2
Sulfite
- do_ _-
2, 098. 8
88.5
1,195.9
231.8
2, 165. 5
108. 0
1, 267. 9
213.4
2,157.0
96.3
1,266.2
211.5
1,915.1
76.0
1,119.9
191.4
2, 196. 1 2, 053. 7
102.7
81.5
1, 276. 7 1, 182. 8
208.1
206. 5
2, 228. 2
97.5
1, 298. 2
226.7
2, 073. 6
90.9
1, 194. 3
229.6
1,848.3
83.2
1,039.5
187.3
2, 107.6
98.9
1,218.5
222.1
1, 957 0
91.4
1,151.4
199.7
2,231.2
106. 6
1.298.4
221.1
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
278.6
105. 5
222.3
268.3
102.8
211.5
262.2
103. 8
210.3
276. 3
101.0
205.7
245.4
92.7
189.8
274.9
108.6
225.1
261. 1
110.0
211.7
283.9
113.5
208.4
265.5
100 0
193.3
261.0
89.8
187.4
267.7
96.1
204.3
242.7
75.1
196.7
274.7
104.2
226.2
851.0
270.8
504. 0
76.2
879.9
283.0
520.2
76.7
912. 5
305.2
526. 3
81. 1
922.5
301.8
535. 6
85.0
898.9
300.4
522.3
76.2
927.3
312.1
543.3
71.9
910.7
301.3
538.2
71.2
937. 6
322. 6
545. 9
69. 1
957.0
341.8
545. 8
69.5
896.8
294.2
533.9
68.7
882.0
317.1
499.1
65.8
889.0
312.3
.507.1
69.6
913. 5
324.4
523. 2
65.9
Exports all grades total^f
Dissolving and special alpha
All other
do
do
do
111. 6
44.9
66.7
85.7
38.7
47.0
102.0
38.8
63.2
111.6
35.0
76.6
102.7
33.9
68.8
99.5
32.0
67.4
107.1
36.3
70.8
90.2
30.7
59.5
97.6
33.2
64.4
95.3
34.1
61.2
88.3
23.5
64.8
109. 5
31.8
77.7
109.2
43.3
65. 9
Imports all grades totalf
Dissolving and special alpha
All other
do
do
do
201. 5
20.9
180.6
182.8
14.3
168.5
193.2
18.2
175.0
211.0
15.9
195.1
177.4
12.0
165.4
230.1
15.4
214.7
198.5
13.9
184.7
198. 1
14.4
183.7
228.6
19.0
209. 6
175. 3
9.3
166. 0
185. 2
11.7
173.5
195.4
13.9
181.5
207. 5
11.5
196.0
_
T
PAPER AND PAPER PRODUCTS
All paper and board mills, production:
r
2, 567
2.820
2,794
2,521
2, 793
2. 639
2,985
2,988
2, 896
2 946
2,936
2,959
3,027
Paper and board total
thous of short tons
T
1,288
1,127
1,219
1.354
1, 216
1,254
1,165
1,295
1,291
1,370
1,327
1,330
1,340
Paper
do
1,174
1, 305
1,214
1,374
1,278
1,257
1, 295
1,332
1,354
1,345
1,123
1,368
1,375
Paperboard
_
do
11
10
10
12
12
12
12
14
14
13
10
14
13
Wet-machine board
do
256
-196
246
291
250
222
262
271
230
269
277
287
290
Construction oaner and board
__ do_ _.
r
Revised.
r> Preliminary.
1 Prices beginning 1961 not strictly comparable with earlier data. January 1961 prices comparable with December 1960; Kerosene, .115; fuel oil, .105.
cf See similar note, p. S-35.
I Revisions for 1958 will be shown later as follows: Aviation gasoline exports, distillate fuel oil imports, residual fuel oil imports, transfers from gasoline plants (January-September); distillate fuel oil exports (January-May and September); residual fuel oil exports (May and June); lubricants exports (January-August).
§See last sentence of note "d"" for p. S-35.
i Re visions for 1958 and 1959 will be shown later.
« Revisions for January and February 1960, respectively (units as above): Total roofing, 2,664; 3,362; shingles, 1,670; 2,138; felts, 55,470; 71,203.
SURVEY OF CURRENT BUSINESS
May 19C1
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
S-37
1961
1960
March | April
I
May
July
June
DecemOctober NovemAugust September
ber
ber
January
February
March
April
PULP, PAPER, AND PRINTING—Continued
PAPER AND PAPER PRODUCTS— Continued
Paper, except building: paper, newsprint, and paperboard (American Paper and Pulp Association):
1,050.0
Orders new 9
thous. of short tons
734.6
Orders, unfilled, end of month 9 -_do._
1,202.1
Production
do
999. 5
Shipments 9
_ ___
__
-do
Stocks end of month 9
do
621.8
Fine paper:
159. 7
Orders new
do
Orders unfilled, end of month
_ _do__
81.3
160.9
Production
_do __
152.9
Shipments
do
155. 8
Stocks end of month
_ _do_ _Printing paper:
451.1
Orders new
_ __ __
_ -do
425. 9
Orders unfilled end of month
do
423 6
Production
do
418.3
Shipments
do__
271.5
Stock^ end of month
do
Price, wholesale, book paper, "A" grade, English
16.62
finish white fob mill
dol per 100 Ib
Coarse paper:
371. 2
Orders, new
thous. of short tons__
182.4
Orders unfilled, end of month
_
do
358. 6
Production
_ ._
_ do _ _
359. 9
Shipments
do
122.0
Stocks end of month
_do_
Newsprint :
Canada (incl. Newfoundland):
575 0
517.9
Shipments from mills
_do_
283.2
Stock^ at mills end of month
do
United States:
172.3
Production
do
166. 0
Shipments from mills
_ __
__
do
38.4
Stocks at mills end of month
do
995.2
747.5
1,164.1
967.2
628.9
950.6
941.4
703. 6
700.2
1,161. 6 1,123. 9
954. 7
977. 5
631.6
630.8
859. 8
655.1
708.7
975. 7 1,112.7
806.2
934.1
624. 3
629.8
865. 5
966.3
856. 8 r818. 6 '931.4 i 834. 0
647. 6
659 0
624.6 r 585 8 r 616 7 11 585. 0
1, 060. 3 1.160.1 1, 084. 5 '1,012
800. 0
4 '1, 116.9
882.7
879. 1 r 844. 0 r' 896. 4 11 797. 0
950. 8
627.1
644 0
660.9
644 5
575. 0
647 4
133 7 r 144 9
'70.0 T '78.3
133 5
142 8
' 135 1 r 143. 7
r
148.8 ' 153.7
152.0
90.0
142.0
144. 0
152.0
' 348. 5 Tr 411.4
365 9
332 9
'
374. 4 ' 385. 2
r
'379
8
375
0
r
269 1 ' 274 6
390.0
364. 0
362.0
362 0
275.0
r
152. 5
86.2
155.0
157.4
160.7
145. 7
83.8
152.4
145. 3
164,1
148.8
86.2
150. 3
151. 1
165. 9
122.0
79.4
127.1
125.9
149. 4
144.0
82.2
148.0
149.3
156.2
1 29. 5
71.2
140 6
137.8
152. 5
14? 1
72.6
144 1
145.8
155.6
142.5
75.2
145. 1
145. 1
163. 1
407.9
410.5
403. 0
401.8
272.7
390.9
385. 6
403. 0
401.6
274.1
423. 1
410. 5
395. 7
397. 0
272.9
392. 4
418. 5
343. 2
344.7
271.3
384.5
384.2
400. 9
399.8
272. 5
375. 5
387. 6
378. 3
381 0
269. 7
426. 9
395. 6
407.9
407 7
269.9
375.0
368. 3
389. 2
389 4
269.8
16. 95
16. 95
16. 95
16 95
16. 95
16 95
16 95
16. 95
374.1
203.9
348. 3
347.9
119.8
351. 9
187.2
363. 5
369. 6
115.0
308.1
157. 9
339. 1
345. 9
119.3
161.' 7
284. 6
282.2
119.4
310.4
143.8
329.1
325. 9
120. 2
307.0
148. 7
308. 5
307. 7
126.3
339.8
143.2
336. 0
334.7
281.0
134.3
301.8
287. 6
139.2
'281 0
' 136. 1
rT 278. 2
278. 0
T
138. 6
'317 2
' 128. 8
' 319. 7
' 310 5
' 142.0
292 0
131.0
296. 0
291.0
148.0
547.1
589. 0
241.3
563.1
569. 5
234. 9
566. 3
593. 2
208. 0
555. 9
561. 5
202. 4
570. 2
551. 8
220.8
570. 6
589 9
201. 4
591. 4
588 2
204. 6
604 2
644 8
163 9
533 9
558 1
139 8
545 4
509 2
176 0
511 9
468 8
219. 1
571 7
528 1
262 7
168. 7
173. 5
33. 6
173. 3
171.5
35.4
171.2
174.3
32.3
157.2
155.9
33.6
179.9
171. 5
42.0
161 6
167.9
35 7
184 5
183.3
36 9
174 3
177.0
34 2
158 8
167 4
25 5
184 3
166.5
43 3
163 2
167. 7
38 8
186 0
177 5
47 3
469.9
476. 9
510. 4
401. 9
419.7
420.4
454.4
516 7
496 7
457 3
422 4
392 4
469 1
646.1
651.1
593.2
605.3
623.7
646 0
654.4
615 1
626 0
628 1
632 7
648 4
610 7
450. 9
Imports
do
Price, rolls, contract, delivered to principal ports
dol. per short t o n _ _ 134. 40
431.9
480. 6
467.5
411.1
486. 3
429.2
474 8
504 0
475 1
4'?2 3
414 7
493 5
134.40
134.40
134.40
134.40
134.40
134. 40
134. 40
134. 40
134. 40
134. 40
1,191.1 1,402.5
457.8
418.4
1,159. 6 1, 426. 0
77
93
1 , 306. 8
429. 1
1,314.2
87
1.384.9
418.2
1,392.5
93
1, 267. 7
409.4
1, 302. 5
86
1,177.7
371.7
1,206.8
76
1,212.4
380.3
1,201.0
87
1,241.8
399.3
1,218.9
89
8,254
8,082
9, 667
' 111 8
109 4
p 130 7
35 149
80, 238
33, 751
31 871
76 412
26, 766
34 908
72' 36!)
28, 737
. 294
Consumption bv publishersd"
do __
Stocks at and in transit to publishers, end of
monthcf
thous. of short tons..
Paperboard (National Paperboard Association):}
1.436.1
Orders new
thous. of short tons
467. 1
Orders, unfilled, end of month _ _.
do_
1,434.4
Production total
do
93
Percent of activity
Paper products:
Shipping containers, corrugated and solid fiber, T
9, 612
shipments}.
mil. sq. ft. surface area_.
Folding paper boxes, shipments, index of physical
135. 4
volume
1947-49=100-.
16. 95
1, 330.1
321.3
1,341.2
92
1, 368. 2 1,351.5
480. 5
450. 2
1, 355. 8 1,366.6
92
93
' 9, 004 ' 8, 912 ' 9, 434 ' 8, 292 ' 9, 920 ' 9, 707 ' 9,
120.0
124.2
130.9
105. 6
1, 264
989
275
2 1,797
21,481
2316
1,241
1, 006
235
1,385
992
393
129.1
133.0
1,187
2976
2211
936
768
168
501
r
r
' 8. 781 r 8, 186
r
132 4
116 6
124 0
22 1 . 705
1,2 385
320
1,181
955
226
1,418
1 125
293
35 965
71 , 608
30, 41 2
31 891
77 525
39, 085
p 16 95
134. 40 v 134. 40
1, 453. 7 1,304.4
421.3
440. 7
1,435.8 1,316.8
91
91
8,936
PRINTING
Book publication, total ^
New books
New editions
-
number of editions
do. _
__do
984
805
179
2
RUBBER AND RUBBER PRODUCTS
RUBBER
Xatural rubber:
47, 205
Consumption
long tons
Stocks, end of month.
do_
81, 599
Imports, including latex and guayule _ _ _ _ do_ _ _ 38, 586
Price, wholesale, smoked sheets (New York)
,405
dol. per lb_.
Synthetic rubber :
131,933
Production
_
_
Ion?1 tons
97, 727
Consumption
do
Stocks, end of month
do
223, 738
34, 488
Exports
do
Reclaimed rubber :
Production
__
Consumption
Stocks, end of month, __
TIRES AND TUBES
Pneumatic casings:
Production§
Shipments, total§
Original equipment
Replacement equipment
Export
_ _
41 263
82, 693
32,018
42, 576
76, 605
31, 609
35, 229
76. 389
28, 605
37 ?58
82 385
39, 597
36, 770
82 2?7
31, 828
37, 033
76, 116
26, 908
.404
.455
.460
.418
.3f;8
.350
.343
.311
.289
.285
120, 895
90, 252
221, 511
37,018
126, 804
91 993
227, 332
31 114
122, 547
95, 849
226, 032
29, 508
116,584
79 413
235, 693
28 780
121 635
88 578
242. 740
30 544
112,853
87 330
242, 959
24 285
110, 991
88 784
238, 591
23 166
110 465
86 179
240, 038
23 381
104 659
80 076
242,416
23 497
105 811
29, 100
26, 625
29, 719
26, 209
24, 210
30, 916
25 676
23 763
32, 611
25, 429
24 677
31, 699
21 472
19 249
33 624
23 540
21 459
33 979
22, 251
22 101
33, 949
23, 546
23 269
33, 519
22 013
21 014
33 783
20 010
19 921
33 048
22 5?8
22 052
33 101
. 305
101 245 112
3 ,%
3r 86 201 ?,r 77 733
236. 247 233, 036 235,
26 385
27
26 294
19 724
18 550
33 493
91 824
20 558
32 695
11,115
10, 517
10, 779
10, 863
9,788
9, 147
9,184
9,530
9,044
8,804
9,221
r
8, 591
9,212
9,737
3, 753
5,827
157
11.114
3,584
7,348
182
11,188
3,724
7, 306
157
11,507
3 449
7 884
174
10,113
2 735
7 228
150
8,941
1 578
7 213
151
9,630
2 950
6,560
120
10,014
3, 589
6,304
121
8,303
3 425
4 772
105
7, 650
3 087
4 452
112
9,130
2 449
6 590
91
r 7, 004
9,166
2 448
6 595
do
do
27, 921
125
27, 401
159
26 967
143
26 359
142
26 108
119
26 298
104
25 893
110
25 499
73
26 290
76
27 540
27 682
79
29 338
83
29 385
3 261
3 440
10 627
102
3 017
3*308
10 254
107
3 024
2' 894
10 446
84
3 067
3 000
10 589
137
2 921
2 657
10 859
71
2 913
2 817
11 034
110
3 208
5 076
9' 394
57
3 140
r 3*277
9 246
75
3 359
3 588
9*014
82
do
do
do
do
4,241
3,282
10, 113
112
3 628
3, 306
10, 495
146
3 611
3' 330
10, 852
135
9
346
3 547
10 700
113
2 191
' 4 722
92
. 305
580
()()8
627
983
do
do
do_
do
thousands--
_
Stocks, end of month^ _ __.
Exports (Bur. of Census)
Inner tubes:
Production
_
__
_ _
Shipments
Stocks, end of month
Exports (Bur. of Census) _
do
do
do
42, 032
83.451
36, 343
123
%
• Revised.
p Preliminary.
i February data exclude estimates for tissue and miscellaneous papers.
2 Data for months noted cover 5 weeks; other months, 4 weeks.
3 Beginning
January 1961, includes data for stereo and other elastomers, but excludes polyurethane rubbers.
9 Data exclude estimates for "tissue paper." d" As reported by publishers accounting for about 75 percent of total newsprint consumption in 1959.
}Revisions will be shown later as
follows: Paperboard (1957-March 1959); shipping containers (1957-February 1960).
^Beginning January 1960, data are based on a new definition of a book and are not entirely comparable
with those
earlier periods.
§Motorcycle tires are included beginning January 1960.
Digitized
forfor
FRASER
SUKVEY OF CUERENT BUSINESS
S-38
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
Alav 1!MV
1960
March
May
April
June
July
1961
August
Septem- October Novem- December
ber
ber
January
February
March
15 038
21 851
April
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Production finished cement
Percent of capacity
Shipments, finished cement ._.
Stocks, end of month:
Finished
Clinker
thous. of bbL.
- - - - - - _-thous. of bbl_do
do
18, 422
27,015
31.999
31, 930
31, 982
33, 270
31, 181
' 31, 533
26, 469
20. 505
16, 744
46
17,812
45
59
27, 638
30, 468
34, 363
32, 964
36, 623
33, 862
' 33, 239
25, 232
15. 116
14. 303
1 4, 447
22, 148
39, 165
33, 474
- 38, 554
33, 545
40, 101
33, 049
37, 667
30, 488
36, 611
27, 532
33, 244
23, 444
30, 095
16, 838
35, 525
20. 954
37, 939
25, 952
38, 531
29, 763
38, 234
32, 250
391. 4
35.5
116.0
644.2
49.5
175.4
672.8
50.1
177.0
685.6
47.5
190.8
624.7
45.1
179.8
665.1
45.0
199.0
610.2
40.1
187.1
595.9
41.3
169.2
536. 7
41.1
143.2
' 342. 4
'31.9
r
108. 1
341.6
32.0
114.6
322.8
27 1
90.2
27.2
31.6
36.6
37.9
35.9
39.6
37.4
38.0
37.3
'31.9
30.8
28.3
20.3
19.2
20.4
22.1
19.4
21.0
19.9
18.9
17.7
16.6
15.2
15.0
140.6
140.6
141.2
141. 3
141.3
141.6
141.7
141.7
141.7
141.7
141.4
141.4
53
80
89
91
88
92
89
87
' 30, 505 ' 28, 841
20, 232
17,318
75
56
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
mil of standard brick_.
Structural tile except facing
thous of short tons
Sewer pipo and fittings vitrified
do
Facing tile (hollow), glazed and unglazed
mil brick equivalent
Floor and wall tile and accessories, glazed and unglazed
mil. of sq. ft .
Price index, brick (common), f.o.b. plant or N.Y. dock
1947-49=100
141.4
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments (qtrly. total) d"
thous. of doL
Sheet (window) glass, shipments- .
do
Glass containers: t
Production
-
- thous. of gross
Shipments domestic total
do
General -use food:
Harrow -neck food
- do
Wide-mouth food (incl. packers' tumblers, jelly
glasses and fruit iars)
thous of gross
r
IHevera° e
TSeer bottles
Liquor and wine
Medicinal and toilet
Chemical household and Industrial
T)airy products
Stocks end of month
- -
-
do
do
do do
do
- do __
do
75, 586
25, 857
49, 729
' 13, 747
' 12, 732 '13,553
' 12, 926
r
12, 640
"1,424
r
' 3, 629
' 3, 277
957
1,324
r
13. 998
' 1, 143
132
r
'21,028
67, 055
26. 912
40, 143
14, 845
' 14, 224 ' 15, 710 '12.938
' 14, 203 ' 12, 665 ' 16, 166
' 14, 052
'13.983
'11,451
' 11,156
12, 287
f
12, 520
15, 161
' 12, 876
' 11,576
'11.307
11, 472
' 11,178
17. 462
'1,461
' 1,043
'998
1,126
' 1,112
2,161
' 3, 466
' 3, 219
3,444
' 3, 247
4,809
596
r
r
'3,900
' 3, 619 ' 4, 648 ' 4, 322
'3,963
1,641
1,968
'1,301
2, 779
' 1, 128
1,172
1,800
'999
2, 594
' 1,011
2,299
•-1,273
3, 406
' 1, 248
610
960
570
861
'1,310
2,794
' 1, 099
' 20, 748
' 22, 134
'21,570
3, 600
135
132
21, 052
' 20. 422
1.355
131
'1,340
130
' 2, 243 ' 2, 747
848
201
59, 908
22, 333
37 575
' 75. 964
31,076
' 44, 888
••1.36-1
1,517
1,285
2, 054
1,443
' 1, 298 ' 1, 224
2, 905
2,771
'1.205
'1.107
1,161
'1,343
3,137
r
63, 493
22, 801
40, 692
724
965
609
'1,579
3, 1 56
' 1, 139
1,273
'1.128
2, 631
'915
1, 163
1,089
2,867
1, 026
210
147
1,012
' 1,367
2,815
'996
148
141
1,068
2,338
1,422
4,029
1,434
201
'19,970
'20,932
' 20, 686
' 20, 250
20, 613
21,830
19, 410
12, 360
13,016
153
178
1,086
' 1, 200
2,801
'995
GYPSUM AND PRODUCTS J
Crude gypsum, quarterly total:
Imports
thous of short tons
Calcined production quarterly total
do
Gypsum products sold or used, quarterly total:
TTncalcined uses
thous of short tons
Building uses:
Plasters:
BaSC-COat
dO
I ith
Wall board
All other§
mil of sq ft
do
do
1,158
2 145
1,147
2,626
1,492
2,706
1,509
2,358
2,062
2,279
2,293
1,957
743
76
1,059
70
971
68
887
71
279
261
317
316
328
345
273
275
456. 2
1 290.4
47 5
514.7
1, 530. 1
72.9
531 3
1, 561. 6
66.0
1, 452. 5
51.3
1
408 0
TEXTILE PRODUCTS
APPAREL
Hosiery, shipments
Men's apparel, cuttings:tA
Tailored garments:
Suits
Overcoats and topcoats
thous. of dozen pairs. - '2 13, 044
thous. of units_
do
Coats (separate) dress and sport
Trousers (separate), dress and sport
Shirts (woven fabrics), dress and sport
do
do
thous. of doz-
Work clothing:
Dungarees and waistband overalls
Shirts
-
do
do
Women's, misses', juniors' outerwear, cuttings:A
Coats
thous. of units..
Dresses
do
Suits
- do .
Waists, blouses, and shirts
Skirts
thous. of doz_.
do
' 11 , 795
'11,849
' 13, 743
' 11,167
' 13, 862 ' 13, 321
' 13, oil
' 13, 874
'11,640
14, 734
1
12,085
i 435
1 , 968
476
1,896
512
i 1, 885
i 460
1,032
336
1,780
548
11,715
i 425
1,684
332
1,784
224
i 1, 650
i 170
1.496
140
1.428
172
1895
i 9, 035
896
8, 236
956
8,600
1
1
576
6,812
944
8, 520
i 775
i 8, 105
872
6, 200
920
5,780
i 840
i 5, 875
796
6.476
708
7,188
1
1
1
1,055
8, 935
1,620
1
195
i 800
8, 140
1,424
2,072
i 2, 095
1, 980
1,972
i 1,830
1.828
1,840
265
355
196
248
280
352
i 280
1310
232
316
204
292
i 220
1260
264
252
264
296
i 285
1
340
841
26, 037
440
1,832
20, 371
709
2,127
15,861
800
2. 693
21,600
870
2, 087
17. 824
521
2,276
19, 614
610
2,150
20. 022
627
1,315
15, 783
700
1.700
18,413
1,290
2,185
22, 124
1,016
2,137
28, 968
1,068
1,515
925
1.402
877
1,223
934
1,383
996
1,310
844
1,277
907
1.236
794
985
466
1,239
576
1,401
681
1,669
889
i 2, 365
2,160
2,048
1280
1365
264
364
296
344
2,078
26, 974
1,013
942
27, 625
593
'1.383
'817
1,547
866
2, 270
1
1
2, Of>5
2
' Revised.
i Data cover a 5-week period.
Revisions for January and February, 1960 (units us above): 11,534 and 11,865, respectively.
cT1 Revisions for 1957-2(1 quarter 1959 will be shown later.
tRevisions for glass containers for 1958 appear in the May 1960 STEVEV; those for January 1959-February 1960 will be shown later. Revisions for gypsum and products follow (units
above): 1st quarter 1959—crude production, 2,431; uncalcined uses, 798; all other building uses, 51.2; 2d quarter 1959—uncnlcined uses, 1,078; 3d quarter 1959—imports, 1,892.
§Comprises sheathing, formboard, and laminated board.
IJData for March, June, September, and December 1960 and March 1961 cover 5-week periods and for other months, 4 weeks.
ARevisions for January 1957-Xovember 1959 are available upon request.
SURVEY OF CURRENT BUSINESS
M;iv I'.MH
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
S-39
1960
March
April
June
May
July
1961
August
Septem- October Xovem- December
ber
ber
January
February
March
April
TEXTILE PRODUCTS—Continued
COTTON
Cotton (exclusive of linters) :
Production:
Ginnings§
-thous. of running balesCrop estimate, equivalent 500-lb. bales
thous. of bales.
Consumption^!
do
Stocks in the United States, end of month,
Domestic cotton total
On farms and in transit
_
Public storage and compresses
Consuming establishments
Foreign cotton total
_
do
do
do___
do
do._
__
3
14, 515
3
14, 558
4
887
708
710
860
562
685
801
667
644
4 726
637
r
r
12, 582
12,r 526
822
9,729
1,975
56
11,061
11 010
441
8,632
1,937
51
9,829
9, 783
304
7,676
1,803
46
8,477
8,436
201
6,661
1, 574
41
7, 561
7 524
215
5,919
1 , 390
37
21,039
20, 935
13,940
5, 860
1,135
104
20, 127
20, 027
1 1 , 364
7, 689
974
100
18, 966
18 873
7 902
9,957
1,014
93
17, 626
17 537
4,182
12,112
1,243
89
15, 992
15 912
2,470
11,967
1,475
80
14 225
14 152
1 388
11, 107
1,657
73
767
4
28.4
669
3
28.9
524
1
29.3
501
675
1
31.4
113
90
32.3
193
22
32.2
439
1
31.6
(6)
721
30.1
982
1
28.7
(6)
29.6
27.6
32.0
32.1
32.2
32.2
32.0
30 8
30.5
30.2
30.2
30.2
133
160
654
110
113
628
113
73
579
129
52
503
79
42
465
88
44
405
112
129
386
101
2^7
449
93
221
530
19, 299
17, 602
19, 310
17, 599
19,315
17, 589
19, 325
17, 004
19, 228
17, 529
19, 266
17, 561
19,259
17, 652
19 241
17 618
19, 151
17 5Q7
Exports!
do
Import*^!
do
Prices (farm), American upland
cents per lb._
Prices, wholesale, middling 1", average 14 markets
cents per lb_.
Cotton linters:
Consumption^!
_ _ thous. of bales
Production!
do_ _
Stocks end of month!
do
4
140
4
9
4
823
3,680
4
4
8,424
12 594
i 13 340
2
r
14 075
'14 265
^14 272
4 795
637
12 742
12 677
l'047
9 823
1.807
65
11,022
10 965
776
8,244
1,945
57
845
26.9
842
3
28.4
29. 4
30.1
30.4
31.1
P31.4
108
186
591
90
198
652
153
670
19,085
17 471
19 022
17 450
19 063
17 451
4
979
(6)
4
113
138
681
COTTON MANUFACTURES
Spindle activity (cotton system spindles)^!
\ctive spindles, last working day, total
_ . thous
Consuming 100 percent cotton
do
Spindle hours operated, all fibers, total
millions
\verage per working day
do
Consuming 100 percent cotton
do. _
Cotton yarn, natural stock, on cones or tubes:
Prices, wholesale, f.o.b. mill:
20/2 carded weaving
dol per Ib
36/2* combed knitting __
do .
Cotton cloth:
Cotton broad woven goods over 12 inches in width,
production, quarterly! _ __ mil. of linear yd
Exports!
thous ofsq yd
Imports!
do
Prices, wholesale:
Mill margins
cents per Ib
Denim white back, 10 oz./sq. yd.
cents per yd
Print cloth 39-inch 68 x 72
do
Sheeting class B, 40-inch, 48 x 44-48
do
4
4
4
7,933
397
7.211
9,418
471
8, 605
.661
.941
. 651
. 936
12, 143
486
11, 126
9 844
492
8,989
9,827
491
8,964
.692
.946
.675
.946
.668
.943
2,479
41 830
39, 948
35, 492
45, 824
35, 872
35, 877
2,422
33, 620
50, 720
41 045
38, 348
34.12
38.3
18 9
17.5
33.43
38.3
18. 1
17. 5
32.77
38.3
18.0
17.5
32.85
38.3
18.0
17.5
32. 60
38.3
18.0
17.5
11,740
470
10, 737
4
. 6G1
.938
4
11,244
450
10, 328
9 204
460
8, 464
8 923
446
8,178
.651
.936
646
.926
. 646
.926
24, 085
37, 632
2,193
28 857
38, 823
36 179
26 610
32.92
38.3
17.5
17.4
32. 04
38.3
16 5
17.0
30 51
38.3
15 8
16.5
4
4
19, 058
17 430
4
10 253
410
9, 426
8 760
438
8,051
8 940
447
8. 190
642
.924
642
.916
629
909
P 634
P. 911
34 502
25, 896
2,235
40 810
35 294
49 327
26 326
41 651
20 618
43 913
20 868
29. 78
38.3
15 3
16 6
28 13
38.3
15 1
16.5
27 50
38 3
15 0
16 5
26 71
38 3
15 0
25 56
p 38 3
p 15 0
p 16 1
4
4
11 196
448
10, 253
25 26
M A N M A D E FIBERS AND MANUFACTURES
r 447. 6
157 4
76.5
168 7
Fiber production, quarterly total 9 1
mil. of lb._
Filament yarn (rayon and acetate)
do
Staple incl tow (rayon)
do
Noncellulosic (nylon acrylic protein etc )
do
476.2
178.8
79.9
169 0
Exports: Yarns and monofilaments
thous. of lb_
Staple, tow, and tops _ _ _ _ _
do
Imports: Yarns and monofilaments! _ _ _ _
do
Staple, tow, and tops! .
do
5, 184
2,989
604
9, 068
7,468
4,349
599
5,752
6,432
3,341
353
5, 867
7,013
3,716
492
4,348
8, 513
4 391
314
3, 532
9,091
3,042
477
4,161
6, 412
3 591
314
3, 583
6, 994
3,710
345
4 J71
6, 539
3 557
290
3,335
6,243
3 766
236
4 326
8, 1 78
3 029
276
3 3?3
5, G01
3 029
444
3 076
6, 461
4 036
490
2 872
61.7
53.3
63.7
55. 1
64.4
55.9
58. 5
59.7
62.8
65.2
65.3
61.0
68.3
59 1
68.3
55 1
68.0
51 1
65.2
53 9
63. 6
57 4
59.8
58 4
57.8
61 3
.82
.33
.82
.30
.82
.29
.82
.28
.82
.82
28
.82
.28
.82
28
82
28
.82
28
.82
28
82
93
P. 82
P 27
Stocks, producers', end of month:
Filament yarn (rayon and acetate)
Staple, incl tow (rayon)
__ _
mil. of lb__
do
Prices, rayon (viscose) :
Yarn, filament, 150 denier
Staple, 1 5 denier
dol. per Ib
do
-
.
Man made-fiber broad woven fabrics:
Production, quarterly total 9! thous. of linear yd
Ravon and acetate (excl. tire fabric)
do
Nvlon and chiefly nylon mixtures
_
do
Exports, piece goods
thous. o f s q . yd
SILK
Imports, raw!_ -- --- -thous o f l b
Price, raw, A A, 20-22 denier
dol. per l b _ _
Production, fabric, qtrlv. total!
thous. of linear yd._
M81. 3
172.2
79.7
181 6
629, 397
386. 652
86, 755
'419.8
146 1
77.9
r 157 9
r
r
9Q
608, 629
367, 260
90, 395
563 969
334, 925
81,096
444.8 ~~~7~48~3~'
148 2
729 7
90 0
169 7
58.4
61 4
580 951
339 207
75 '?30
13,283
13, 975
12, 004
12, 592
11,151
11,301
11,409
14. 682
13, 028
12,464
10, 907
11.331
13,410
526
4.27
7,775
560
4.34
415
4.37
608
4.52
6,819
594
4.59
938
4.79
661
4.92
6,739
544
4.86
544
4.75
403
4. 78
7,117
509
5.14
349
5. 03
522
r> 5. 12
164
16, 205
20, 017
13, 647
21, 153
11, 702
26, 264
11, 477
18, 639
9 008
20, 395
14 095
22, 287
15 147
r? us
15,882 4 17, 424
11 633 4 13 874
16, 865
12 090
17,910
11 457
22, 598
11 954
28,013
11,151
19, 453
8, 557
15, 868
6, 057
24 125
9,885
18 954
7, 597 1
WOOL
Wool consumption, mill (clean basis):!!
Apparel class
thous. of lb_.
Carpet class. _
_.
do
Wool imports , clean content!
Apparel class, clean content!
_
do
do
4
23,
4
4
4
4
4
17,605
01 547
17 632
15 1£2
17 921
14 953
18 975
24 430
6,715
6,225
7,' 239
7,' 305
7,' 606
9,' 51 6
11.' 904
4
Total ginnings of 1959 crop.
Data cover a 5-week period.
s Total ginnings of I960 crop.
19 205
7,800
r
2
3
Revised.
p Preliminary.
1 Ginnings to December 13.
Ginnings to January 15.
7
c Less than 500 bales.
Data are for month shown.
§ Total ginn ings to end of mont h indicated, except as noted.
*[I)ata for March, June, September, and December 1960 and March 1961 cover 5-week periods and for other months, 4 weeks: cotton stocks and number of active spindles are for end of period
covered.
9 Includes data not shown separately.
^Scattered revisions for 1957-59 are available upon request.
SURVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated, statistics through 1958 and
descriptive notes are shown in the 1959 edition of
BUSINESS STATISTICS
May 19C
1960
March
April
June
May
1961
DecemAugust SeptemOctober November
ber
ber
July
January
February
March
April
TEXTILE PRODUCTS—Continued
WOOL AND MANUFACTURES
Wool prices, raw, clean basis, Boston:
Good French combing and staple:
Graded territory,
fine
dol. per lb._
Graded fleece, 3/8 blood
_
do
Australian 64s 70s good topmaking, in bond do
Knitting yarn, worsted, 2/20s-50s/56s, Bradford system,
wholesale price
1947-49=100__
Woolen and worsted woven goods, except woven felts:
Production Quarterly tota.lt
thous of lin yd
1.225
1.075
1. 175
1.182
1.095
1.212
1.160
1.090
1 . 225
1. 155
1.088
1.225
1. 125
1.070
1.225
1. 125
1.065
1 175
1. 125
1. 065
1 175
1.125
1.036
1 075
1. 125
1 025
1 075
1. 125
1. 025
1 075
1. 125
1.025
1 075
1.125
1. 125
1.1 5f
1 075
1 075
1 1(K
103.5
102.2
102.2
102.2
102.2
101.0
98.5
98.5
97.2
97.2
96.0
94.7
93.5
104.0
90.8
104 0
90.8
104 0
90.8
82, 096
74,011
72 624
71, 820
32, 336
39, 484
Other th^n Government orders total
do
Men's and boys'
- -_
do
"Women's and children's
do
Prices, wholesale, suiting, f.o.b. mill:
Flannel men's and bov's
1947-49=100.
Gabardine women's and children's
_ _ do_ _ _
80, 719
79 303
78, 453
32, 288
46, 165
108.1
92.4
108.1
92.4
108.1
92.4
68 507
66 974
66' 579
24, 838
41,741
108.1
92. 4
106. 3
92.4
106.3
92.4
988
975
99i
60 058
58 555
57 046
22 298
34, 748
106.3
92.4
106.3
92.4
106 3
92.4
106 3
90. 8
TRANSPORTATION EQUIPMENT
AIRCRAFT
Manufacturers of complete types:
Aircraft, engines, propellers, parts, etc.:
2,827
3, 065
2,607
Orders, new (net), quarterly total
mil. of dol__
2,593
2,727
2 836
^ales (net) Quarterly total
do
12,
463
11,991
12, 220
Backlog of orders total end of quarter
do
5 691
5 229
5 783
For U S military customers
do
Civilian aircraft:
r3
r
r
Shipments
thous. of dol_. r3 90, 383 -•124,323 ••131,312 108, 147 '"120.004 ' 97, 584 108, 460
\ irframe weight
- thous. of lb_ 2,189. 5 '2,663.8 '3,160.9 r 2, 431. 5 '2,496.2 '2,032.9 '2,233.6
37, 985
79,413
72, 573
46, 641
48, 078 54, 890
59, 244
Exports (commercial and civilian) t
thous of dol
2, 874
2 841
12 496
5 406
r
r
81. 102
r
88. 117
1.912. 5 * 2. 027. 9
r
' 82, 316
2, 099. 7
1.995.5
81,799
1,914.9
1,988.0
83, 356
30, 589
37 580
36 253
20 195
28. 282
32 590
703, 159
'447
687, 790
338
613, 905
251
485. 933
278
448.212
198
526, 056
255
231
278
196
254
406 616
395, 075
79, 039
67, 407
363. 193
425, 892
12,343
19,927
10.315
18 ^54
29* 065
27, 443
MOTOR VEHICLES
Factory sales, total
Coaches total
Domestic
Passenecr cars, total
Domestic
Trucks, total
Domestic
-
-
__
.
Exports, total t
Passenger cars (new and used)
Imports (cars trucks buses) totalcTj
Passenger cars (new and used)cf
Production, truck trailers:A
Complete trailers total
Vans
_. .Chassis van bodies for sale separately
Registrations:©
New passenger cars
_ _ _
New commercial carst
number.do
-- do_ _
-do
do
-do
do_ _.
789,511
340
303
659, 730
do
_ do_ _.
do
do
do
do
do
129,441
362
588,046
576,817
114,590
105, 438
92, 557
31,771
13,050
29, 468
18 721
69, 856
67, 461
17 842
644, 780
do
do
703, 002
366
r
s 6. 995
' 2 3, 992
'3696
11,626
725, 665
451
432
717, 366
364
359
463, 943
211
347
148
386, 694
627. 678
378,415
610,828
77, 038
66, 006
75, 034
60, 589
26,
14,
12
26
396
64.053
324, 020
320, 681
65, 948
53, 331
31,106
29,216
26, 081
31, 485
14,411
9, 526
21 580
51 208
19 621
34, 265
30, 988
27 099
5,105
9 306
22,347
24,717
20, 885
22, 916
24,811
r
r
r
r
56, 659
48,153
r
r
1 020
390, 326
358
421 , 355
414, 787
79. 444
191
861
023
268
' 5, 895
r
3, 391
r
414
605, 582
596, 296
111, 420
89, 022
607,
596,
118,
91,
7,418
21, 798
38, 077
35, 355
58,241
501, 223
424
5, 430
' 3. 244
r
630
5. 286
3.096
r
723
6,460
r
3 925
2, 368
r
493
4,386
4. 134
29, 770
19, 946
22, 185
20, 485
20, 282
20, 721
12
12
315
315
21
21
294
294
24
270
270
13
282
282
1,676
1,674
1, 673
1,674
7.6
7.7
8.1
8.2
4. 242
2. 460
3, 070
1,817
680
518
458, 765
76, 072
547, 461
74, 158
543, 042
67, 477
544, 278
73, 250
413.563
374, 877
59 322
480, 067
72, 487
4. 355
2 984
2, 929
1,371
2. 206
2, 200
2, 200
4 657
3 185
3, 160
1. 472
5, 864
%6
906
4. 958
22 905
7, 616
7, 611
15, 289
3, 944
2 210
2, 205
1,734
3 732
2 692
2, 692
1,040
22, 781
8,178
8,178
14, 603
4 291
2 661
2, 642
1.630
3 515
2 261
2. 261
1,254
1 . 958
3 874
2 180
2,180
1,694
2, 1 74
1 484
1,465
* 690
1.339
21,070
18.894
6, 857
6, 857
14,213
5. 023
5. 023
13. 871
18. 429
4, 669
4, 669
13, 760
21
26
14
21
202
202
31
44
26
176
176
14
162
162
31
131
131
44
112
112
1.664
1, 662
1, 659
1,654
1,650
9.4
9.7
9.9
9.6
56
61
106
4, 31 5
2 506
2, 450
1, 809
1,334
559
23.173
r
3, 771
2, 164
^2.218
r
62, 307
p'543. 600
p
l
420
pi446. 500
"196.800
13. 464
13 850
24 268
447
4,149
2 737
2, 650
1,412
1, 331
36, 321
3, 656
r
20, 424
10, 496
9 928
23. 482
22. 099
27.314
q 61 '?
26 021
24, 293
3.017
1,738
6 218
3 873
3, 873
2, 345
316
41,206
19. 985
r
99. 909
79. 573
3. 133
I . 879
r
389
5, 945
42, 334
21,215
410.516
84. 821
67. 703
-299
79, 674
949
249
67
30. 897
351,137
r? 184
525, 400
81, 440
5, 509
4 200
4, 200
1, 369
5, 352
4, 357
4. 357
995
26. 461
15, 965
10 496
507, 757
92, 940
79, 802
367
546.535
5 950
4, 408
4, 408
1, 542
2, 01 1
1,891
1, 887
120
520,714
"2.195
T
670
595, 864
85, 535
647, 287
95, 009
600, 495
580, 677
86. 957
73, 923
"2.513
r
647, 055
93, 460
596, 669
89, 627
3, 615
643
182
461
688
307
RAILROAD EQUIPMENT
American Railway Car Institute:
Freight cars:
Shipments total
number
Domestic
-.
- do_ _
Railroad and private-line shops, domestic__do
"\"ew orders total J
do
Equipment manufacturers total
do
Domestic
do
Railroad and private-line shops domestic do
Unfilled orders, end of month, total
_ do
Equipment manufacturers, total
do
Domestic
do
Railroad and private-line shops, domestic. _do
Passenger cars (equipment manufacturers) :
Shipments, total
do__ _
Domestic
do
Unfilled orders, end of month, total
do _.
Domestic
-- do
Association of American Railroads:
Freight cars (class I) :§
Number owned or leased, end of month
thous. .
Held for repairs, percent of total owned _ _ .
Locomotives (class T) :
Diesel-electric and electric:
Owned or leased end of mo No. of power units
Serviceable, end of month
do
Installed in service (new) quarterly total do
Unfilled orders end of month
do
Exports of locomotives, total (railroad-service and industrial types) t
-- number.
20,149
3 504
3, f,f>4
2, 381
2, 297
1 738
1.726
709
708
625
21 692
9, 874
9. 844
14, 358
13,178
11,818
7
27
32
7
315
315
27
288
288
32
256
256
33
33
223
223
1,672
1, 672
1,668
1, 666
18,607
26 798
1 2. 440
18. 392
17,714
14, 134
15, 421
12,300
24
13
8.6
8.8
190
68
53
68
8.9
8.9
9.2
28, 972
27. 383
89
28, 939
27, 460
148
329
6
23, 951
10, 773
10, 688
14,349
28, 803
27, 255
97
48
672
672
659
23
23
427
427
912
1 . 201
1,536
4-38
438
1,802
1 795
1, 789
1,098
15, S07
4, 284
4, 278
11.523
28 911
27, 095
32
119
38
r
757
122
55
•j-9
66
r
Revised.
p Preliminary.
1 Preliminary estimate of production.
2 Excludes data for van bodies.
3 Revisions for January and February 1960 (units and order as above): Aircraft—shipments, 96,369; 112,755; airframe weight, 2,263.6; 2,648.4; truck trailers—complete trailers, 6,131; 6,530; vans, 3,906; 4,031; chassis, etc., 593; 500. *
cf Data cover complete units, chassis, and bodies.
ARevisions for 1957 (except for detachable van bodies) are available upon request.
©Data from R. L. Polk & Co.; republicstion prohibited. Alaska and Hawaii are included.
{Scattered revisions for woolen and worsted goods production (1958), aircraft exports (1958-59), motor vehicle exports and imports (1958-59), truck registrations (1958-May 1959), freight car
new orders (1955-59), and foi locomotive exports (1959) are available upon request.
§Excludes railroad-owned private refrigerator cars and private line cars.
INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40
SECTIONS
General:
Business indicators
.
Commodity prices
Construction and real estate
Domestic trade
Employment and population
Finance
International transactions of the U.S
Transportation and communications
1-5
6, 7
7,8
9-11
11-15
16-20
21,22
23, 24
Industry:
Chemicals and allied products__
Electric power and gas
Food and kindred products; tobacco
Leather and products
_ 24, 25
25,26
26-30
30,31
Lumber and manufactures
Metals and manufactures
Petroleum, coal, and products
Pulp, paper, and printing
31
32-34
35,36
36,37
Rubber and rubber products
Stone, clay, and glass products
Textile products
Transportation equipment
37
38
38-40
40
INDIVIDUAL SERIES
Advertising
9
Agricultural loans and foreign trade
16, 21, 22
Aircraft and parts
3,12,13,14,40
Airline operations
23
Alcohol, denatured and ethyl
24
Alcoholic beverages
7, 9, 26
Aluminum
33
Apparel
2,3,6,7,9,10,12,13,14,15,38
Asphalt and tar products
35,36
Automobiles
3,9,12,13,14, 15,17,22,40
Bakery products
12,13,14
Balance of payments
21
Banking
14,16
Barley
27
Barrels and drums
32
Battery shipments
34
Beef and veal
28
Beverages
3,4,7,9,12,13,14,15,26
Blast furnaces, steel works, etc
12,13,14
Blo\vers and fans
34
Bonds, outstanding, issued, 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
8,9,10,36
Building costs
8
Business incorporations (new), failures
5
Business sales and inventories _ .
4
Butter
27
Cans (metal), closures, crowns
32
Carloadings
23
Cattle and calves
_
28
Cement and concrete products
7,8,38
Cereal and bakery products
6,12,13,14
Chain-store sales, firms with 4 or more and
11 or more stores
.
10
Cheese
27
Chemicals
3,4, 5, 6,12,13,14,15,19, 22, 24
Cigarettes and cigars
7,30
Civilian employees, Federal
12
Clay products.
7,38
Coal
3,4,6,11,13,14,15,22,23,35
Cocoa
22,28
Coffee
22,29
Coke
23,35
Communications
12,13,14,15,19, 20, 24
Confectionery, sales
29
Construction:
Contract awards
8
Costs
8
Employment, hours, earnings, wage rates. _
12,
13,14,15
Highways and roads
_ 7,8,15
Housing starts
,
8
New construction, dollar value
1,7
Consumer credit
17
Consumer goods output, index.
2,3
Consumer expenditures
1,9
Consumer price index
6
Copper
_
22,33
Corn
27
Cost of living (see Consumer price index)
6
Cotton, raw and manufactures
6,7,22,39
Cottonseed, cake and meal, oil
30
Credit, short- and intermediate-term
17
Crops
2,6,27,30,39
Crude oil and natural gas
3,11,13,14,15,35
C urrency in circulation
18
Dairy products
Debits, bank
Debt, U.S. Government
Department stores
Deposits, bank
Disputes, industrial
.
Distilled spirits
Dividend
payments,
rates,
and
yields
Drug-store
sales
2, 6, 26
16
17
_ 10,11,17
16,18
15
27
2,19, 20
10
Earnings, weekly and hourly
14,15
Eating and drinking places
10
Eggs and poultry
2,6,28
Electric power
3,6,26
Electrical machinery and equipment
3,
4,5,7,12,13,14,19,22,34
Employment estimates and indexes
11,12
Employment Service activities
15
Expenditures, U.S. Government
17
Explosives
25
Exports (see also individual commodities)
21, 22
Express eperations
23
National income and product
1
National parks, visits
,__
24
National security expenditures
1,17
Newsprint
22,37
New York Stock Exchange, selected data
19, 20
Nonferrous metals
7,19, 22, 33
Noninstallment credit
17
Failures, industrial and commercial
„
5
Farm income, marketings, and prices
1,2,6
Farm wages
.
15
Fats and oils, greases
6,29,30
Federal Government finance
17
Federal Reserve banks, condition of
16
Federal Reserve reporting member banks
16
Fertilizers
6,25
Fire losses
8
Fish oils and
fish
29
Flaxseed
30
Flooring, hardwood
31
Flour, wheat
28
Food products
3,4,
5,6,9,10,12,13,14,15,18,22,27,28,29,30
Foreclosures, real estate
8
Foreign trade
21,22
Foundry equipment
34
Freight carloadings
, __<
23
Freight cars (equipment)
3,40
Fruits and vegetables
6,22, 27
Fuel oil
35,36
Fuels. _„
3,6,35,36
Furnaces
34
Furniture
3,4,6,9,10,12,13,14.17
Furs
'22
Paint and paint materials
6, 25
Panama Canal traffic
23
Paper and products and pulp
3,
4,5,7,12,13,14,15,18,22,36,37
Parity ratio
6
Passports issued
24
Payrolls, indexes
13
Petroleum and products
3,
4, 5, 6,12,13,14,15,19, 22,35,36
Pig iron
32
Plant and equipment expenditures
2,19
Plastics and resin materials
25
Plywood, hardwood
31
Population
11
Pork
28
Postal savings
16
Poultry and eggs
2,6,28
Prices (see also individual commodities)
6
Printing and publishing
3,12,13,14,15,37
Profits, corporate
1,18,19
Public utilities
2,3,6, 7,12,13,14,15,19, 20, 26
Pullman Company
24
Pulp and pulpwood
36
Pumps
34
Purchasing power of the dollar
7
Gas, output, prices, sales, revenues
Gasoline
Generators and motors
Glass and products
Glycerin
Gold
Grains and products
Grocery stores
Gross national product
Gross private domestic investment
Gypsum and products
3,6, 25, 26
9,35.36
34
38
24
18,21
6, 22, 23, 27, 28
10
1
.
1
7,38
Hardware stores
.
9,10
Heating apparatus7,34
Hides and skins
7,30
Highways and roads
7, 8,15
Hogs_
28
Home Loan banks, loans outstanding
8
Home mortgages
8
Hosiery
38
Hotels
12,13,14,15,24
Hours of work per week
13
Housefurnishings
6, 9,10
Household appliances and radios
3,6,9,10,34
Housing starts
—
8
Imports (see also individual commodities)
21, 22
Income, personal
1
Income and employment tax receipts
17
Industrial production indexes:
By industry
2,3
By market grouping.
2,3
Installment credit
_
17
Installment sales, department stores
11
Instruments and related products
3,12,13,14
Insulating materials
34
Insurance, life
17,18
Interest and money rates
16
Inventories, manufacturers' and trade
4,10,11
Iron and steel, crude and manufactures
3,
4,5,7,8,12,14,19,22,32,33
Labor disputes, turnover
15
Labor force
11
Lamb and mutton
28
Lard
28
Lead
33
Leather and products
3,7,12,13,14,15,30,31
Linseed oil
30
Livestock
2,6,23,28
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit)
8,16,17,19
Locomotives
40
Lubricants
35,36
Lumber and products
3,
4,5,7,8,9,10,12,13,14,18,31
Machine tools _ .
34
Machinery
3,4,5,7,12,13,14,19,22,34
Mail-order sales, catalog
10
Manmade fibers and manufactures
7,39
Manufacturers' sales, inventories, orders
4,5
Manufacturing employment, production workers, payrolls, hours, earnings
11,12,13,14,15
Manufacturing production indexes
2,3
Margarine
29
Meats and meat packing
2,6,12,13,14, 28
Medical and personal care
6
Metals
3,4,5,7,11,12,13,14,15,19,32,33
Milk
.
27
Mining and minerals... 2,3,11,12,13,14,15,19,20
Monetary statistics
18
Money supply
18
Mortgage loans
8,16,18
Motor carriers
23
Motor vehicles___ 3,4,5,7,9,10,12,13,14,15,19, 40
Motors
- . 34
Oats
_
Oil burners
Oils and fats, greases
Orders, new and unfilled, manufacturers'
Ordnance
27
34
6,29,30
5
12,13,14
Radiators and con vectors
34
Radio and television
3. 6, 9, 34
Railroads
2,12,15,19,20,23,40
Railways (local) and bus lines
12,13,14,15, 23
Rayon and acetate
39
Real estate
8,16
Receipts, U.S. Government
17
Recreation
6
Refrigeration appliances, output
34
Rents (housing)
6,9
Retail trade
_- 4, 5,9,10,11,13,14,15,17
Rice
27
Roofing and siding, asphalt
36
Rubber and products,- 3,4,5,7, 12,13,14,15,22,37
Rye
.
27
Saving, personal
1
Savings deposits
16
Securities issued
19
Services
1,9,12,13,14
Sheep and lambs
28
Ship and boat building
12,13,14
Shoes and other footwear
7,9,10,31
Silk, prices, imports, production
7,39
Silver
18
Soybeans and soybean oil
30
Spindle activity, cotton
39
Steel ingots and steel manufactures
3,32,33
Steel scrap
32
Stocks, department stores
11
Stock prices, earnings, sales, etc
20
Stone, clay, and glass products
3,
4,5,12,13,14,19,38
Stoves and ranges
34
Sugar
22,29
Sulfur
25
Sulfuric acid
24
Superphosphate
25
Tea imports
29
Telephone, telegraph, cable, and radio-telegraph carriers
12,13,14,15, 20, 24
Television and radio
3,6,9,34
Textiles and products
3,
4,5,7,12,13,14,15,18,22,38,39,40
Tin
22,33
Tires and inner tubes
7,9,10,37
Tobacco and manufactures
3,
4, 5, 6, 7, 8,12,13,14,15,22,30
Tractors
22,34
Trade
5,9,10,11,12,13,14,15,17,20
Transit lines, local
23
Transportation and transportation equipment. __ 3,4,5,6,9,12,13,14,15,19,22,23,24,40
Travel
24
Truck trailers
40
Trucks
34,40
Unemployment and compensation
11,15
U.S. Government bonds
16,17,19, 20
U.S. Government
finance
17
Utilities
2,3,6, 7,12,13,14,15,19, 20, 26
Vacuum cleaners
Variety stores
Vegetable oils
Vegetables and fruits
Vessels cleared in foreign trade
Veterans' benefits
34
10
_. 29,30
6,22,27
23
15,17
Wages and salaries
1,2,13,14,15
Washers
___
34
Water heaters_
34
Wheat and wheat
flour
27,28
Wholesale price indexes
6,7
Wholesale trade
4, 5,11,12,13,14,15
Wood pulp__36
Wool and wool manufactures
6, 7, 22,39, 40
Zinc.
33
@FedFRASER