Full text of Survey of Current Business : May 1968
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
MAY 1968 / VOLUME 48 NUMBER
OF-
•'•/'.
CONTENTS
U*S*
THE BUSINESS SITUATION
of
1
C. R. Smith / Secretary
First Quarter Corporate Profits
3
William, H. Chartener / Assistant Secretary
for Economic Affairs
National Income and Product Tables
4
Monetary Policy Shifts to Restraint
8
Summary
Office' of Business-Economies '
, • -'
George Jaszi / Director
Financial Tables
12
Alternative Estimates of Corporate Depreciation
and Profits: Part II
16
Louis J. Paradiso
Associate Directors
Murray F. Foss / Editor
Leo V* Barry, Jr. / Statistics Editor
BillyJo Hurley / Graphics
10
Plant and Equipment Expenditures of Foreign
Affiliates of U.S. Firms—Revised Estimates for 1967 and 1968
Morris R. Goldman
to
•
•
;
Business Revieiv and Features:
David R. Hull, Jr.
Donald A, King
R* David Belli
Articles
CURRENT BUSINESS STATISTICS
General
S1-S21
Industry
S24-S40
Subject Index (Inside Back Cover)
H» Meae. &7I0I
U,S. Cowrtfioase Ph. 247-0311,
, ,99501'
'
Loiiasae-Sogn Bldg. 272-4331.
Atlanta, -Gav' 30303
: '"
75F0r83?tlrSt. NW." 526-6000.
Baltimore,' Md, 21202 v ' 305 U.S. CwBtoi«iicms« 962-3560,
Birmingham* Ala* '352105
90S S, 20tfa*St. Ph. 325-3327.
Bestow, Mass. 02203
-' ' '.
JFK Federal Btdg, 223-2312,
• Buffalo, N. Y. ' 14203
117 Ellieott St. Ph. 842-3208,
Charleston, S,€* 2f403
- 334 Meeting St ,
Ph. 577-4171.
. .
Qi»rIestoa»-W.'Va» 25301
500 Qaarrier St. Ph. 343-6196.
, Cbeyenne, Wyo. 82001
6022 U.S. Federal BWg.
Ph. 634-5920.
Chicago, III. 60604
I486 Jjfew Federal BWg,
Ph. 353-4400,
i, Ohio 45202
550 Main St. Pfe, 684-2944,
<3U Ohio 44114
IMAve.
Ph. 522-4750.
Dallas, T«K.' 75202
1114 Commerce St. 749-3287.
ur» Colo* • 80202 - - ,
16419 Fed. Bldg., 20th & Stout Sts.
Ph. 297-3246.
Ites'^fotnes, Iowa 50309 '
609 Federal Bldg.
Ph. 284-4222.
Detroit, Mich. 48226
445 Federal Bldg. Ph. 226-6088.
Greensboro, N.C. 27402
258 Federal Bidg.
Ph. 275-9111.
Hartford, Conn, 0610S
18 Asylum St. Ph. 244-3530.
Hottolulw, Hawaii 96813
352 Alexander Young Bldg.
Ph. 588-977.
Hotiston, Tex. 77002
515 Rusk Ave. Ph. 228-0611.
Jacksonville, Flau 32202
400 W. Bay St. Ph. 791-2796.
Kansas City, Mo* 64106
911 Walnut St. 374-3141.
Los Angeles, Calif, 90015
1031 S. Broadway Ph. 688-2833.
Allan H. Young
Claudia Talbott
Subscription prices, including weekly statistical supplements, are $6 a year for domestic and $9.75 for foreign
mailing. Single issue 45 cents*
Make checks payable to the Superintendent of Documents and sena to C/.S. Government Printing Office,
Washington, D,C. 20402, or to any U.S* Department of
Commerce Field Office*
.M«ttiphl«9 Temsu
710 Home Federal Bldg..
Ph. 534-3214.
'
" Mianti, Ma. '
,
25"W,est Flagleir St. 'Ph.- S50-S267. _
M0wau&ee» WJU*
' •-•''''
238 W, Wbeonsiu'-Aye. ,' 272-8600,,
Mi»meapoli%.Mitt»* -.55401 , '
306 Federal Bldg. Pb. 334-2133.
a. '70130
'610 South St. Ph.- 527-654-6.
New York* N*Y. 10001,' - '• ' " '
Empire -State Bldg. ,563-3377, - •
Philadelphia, Fa* • 1§107 - - ' -.
1015 Chestttwt St.*^ Ph. 597-2850. '
P'hoenlx, Alias. -85025 •
230 -N. ' First A ve. Ph. 261-3285,,
Pittsburgh, Fa, 15223 : , ' • -1000 l£b«cty Ave. . PB. 644-2850, .
-97204 . .
217 Old U,S. Courthouse Bldg,
Pb. 226^3361,
®no, Nev.-' 89S02 ' - 300 Boot!* St, Ph. 784-5203.
fch-momd^Va.
'23240 • "'
2105 Federal ^Idg. Ph. 649-3611.
'
.
,
.
2511 Federal Bldg. 622-4243.
- Salt &ake 'City* -Utah 841H' '
• ,125 SowA State St.; Ph. 524-51 16.
' Saix i^raiieijieo, Calif. 94102 •' - ' -'
- 450 Golden- Gate 'Are.
-' ' - ' - '
' Ph. 556-5864.
'
•; , .
' San Jwattt, Puerto Eieo 00902 ' '
100 P;O. Bldg. Pk 723-4640.
' Savatitiafa, -.Oa« 31402 , - ;
235' CF.S. Courthouse and P.O.
' , , Bldg. '-Ph, 232-4321, . •
-Seattle, Wask* 98104 " ' '809 Federtl Offiee BHg.
-• Fk 583^5615.
'-,'/'• '
the BUSINESS SITUATION
1.HE second quarter started off with
the major measures of economic activity showing a mixed picture in April.
Personal income and nonfarm establishment employment registered moderate gains that were considerably
below the average monthly advances
in the first quarter, and weekly hours
of work in the private sector declined.
Industrial production changed little,
continuing the pattern evident since the
end of 1967. Retail sales decreased after
3 months of extraordinary gains. The
overall unemployment rate, on the
other hand, edged down to the postKorean low of 3% percent reached in
January.
The April results were affected by
special circumstances and should also
be viewed against the background of
first quarter developments. The disturbances in the cities in early April
had an adverse effect not only on hours
of work, and thus on payrolls and industrial production, but also on retail
sales. Also, some slowdown was to be
expected from the unusually rapid
first quarter rate of advance in such
important measures as retail sales and
personal income. With retail sales revised upward for March, it now appears
that the average monthly gain from December to March—more than 2 percentwas even higher than was evident a
month ago; the average monthly gain in
personal income in the first 3 months of
1968 was an exceptional $5.7 billion.
Aggregate economic activity at the
beginning of the second quarter exceeded the first quarter rate, and the
underlying trend continues upward.
At present, a reasonable prospect is for
another substantial gain in total output
for the current quarter. Because of
rising cost and demand pressures, further sizable price increases are also
The principal measures of economic
activity showed a mixed picture in April.
The slower rate of expansion and the
decreases evident in some important
indicators reflected in part the effects of
strikes and the disturbances in the
cities and in part a reaction to the
unusually rapid advances in the first
quarter. However, aggregate activity
in April exceeded the first quarter rate
and the underlying trend continues
upward. Prospects appear good for a
substantial gain in total output in the
current quarter.
likely to occur. Government purchases
and fixed investment combined will be
higher than in the first quarter. Some
step-up in the rate of inventory accumulation would also seem to be in the
offing; the first quarter upsurge in consumer expenditures limited the increase
in manufacturing inventories and
caused reductions in trade stocks in
both February and March. Although
the unusual first quarter upsurge will
not be repeated, personal consumption
expenditures will advance in response
to higher incomes paid out in production. Another factor on the plus side is
that the February rise in the minimum
wage and the March rise in Social Security benefits will be fully reflected in
the second quarter personal income
total.
Revised first quarter GNP
According to revised estimates based
on more complete data, GNP rose
$19K billion from the fourth to the first
quarter, about the same as the increase
indicated last month. Personal consumption expenditures rose even more
than the preliminary source data sug-
gested—$17 billion rather than $16 billion; net exports, on the other hand, are
almost $1 billion lower than estimated
last month. Inventory accumulation is
now placed at about $2% billion instead
of $4 billion.
Rise in income
After increases of $8% billion in
February and $7 billion in March,
personal income rose less rapidly in
April with a gain of $3% billion.
However, the April total, at a seasonally adjusted annual rate of $670
billion, was $11 billion above the first
quarter average.
Several special factors were important in the slower growth of personal
income last month as compared with
February and March. In April, the
expansion in payrolls was held down
by the telephone strike and the disturbances in the cities. In contrast,
in February payrolls received a boost
from the increase in minimum wages,
and in March transfer payments reflected the increase in Social Security
benefit payments for the first time in
1968.
The rise in payrolls from March to
April came to $1.7 billion, $1 billion
of which was accounted for by private
industries. Payroll increases in manufacturing, transportation, and services
were offset in part by reductions in
trade and communications. The remainder of the increase in total income
was divided about equally between
transfer payments and property income.
Employment in nonfarm establishments rose more than 100,000 in April,
but this figure does not reflect the effects
of the telephone strike, which occurred
after the week in which the employment
statistics were reported. Manufacturing
SURVEY OF CURRENT BUSINESS
and mining accounted for about twothirds of the employment rise, and
most of this reflected the return to work
of employees in the glass container
and the copper mining and smelting
industries.
Industrial production unchanged
Industrial production (seasonally adjusted) was unchanged in April as
output in all of the major industry
divisions remained close to March
levels. In manufacturing, increases in
iron and steel, aircraft, instruments,
and stone, clay, and glass were offset
by declines in motor vehicles and parts,
machinery, and fabricated metals.
Supported by high consumption and
strike hedge buying, iron and steel
production rose 3 percent in April;
reports for early May suggest a continuation of this rate.
In the automobile industry, strikes
and absenteeism continued to hamper
assembly line operations, and output
again fell below planned production
schedules. The April turnout of 96.0,000
passenger cars and trucks was about 3
percent below March, after seasonal
adjustment. However, with production
problems in the industry now apparently settled, nearly 1.1 million passenger cars and trucks are programed
for May. In the first 2 weeks of May,
assemblies were running at about the
scheduled rate and substantially above
the seasonally adjusted pace for April.
food and services. Food accounted for
more than one-fourth, services for more
than one-half, and nonfood commodities
for one-fifth of the rise in the overall
index during the quarter.
Food prices higher
For about 2 years prior to last winter,
prices of consumer foods had shown a
CHART I
Consumer Prices
Percent Change
ALL ITEMS
FOOD*
NONDURABLES LESS FOOD*
DURABLES*
Consumer Price Rise
Accelerates
The extended advance in consumer
prices has accelerated this year. An
increase of 0.4 percent from February
to March brought the rise in the Consumer Price Index since December to
1.1 percent. This represents a steppedup advance from the rises of about 0.9
percent during each of the preceding
two quarters (chart 1). The increase in
prices from December to March extended to virtually every major component of the index, and the acceleration of the rise was pronounced for
SERVICES
—
|
$1
1962
63
64
Quarterly rates1
65
I
^
§
iIS
67
1966
68
Quarterly data2
*Seasonally adjusted. No seasonal adjustment is made
for All Items and Services.
1. Based on Dec.-Dec. change.
2. Dec.-Mar., Mar.-June, June-Sept., and Sept-Dec.
Basic Data: BLS
U.S. Department of Commerce, Office of Business Economics
68-5-1
May 1968
mixed pattern. Prices of restaurant
meals rose steadily and substantially;
however, grocery store prices increased
very little, on balance, after a large
rise from mid-1965 through the first
quarter of 1966. Although the steady
advance in restaurant prices continued
in the first quarter of this year, most
of the ll/2 percent rise in the overall
index of food prices during this period
resulted from sharp increases for meats,
fresh vegetables, and citrus fruits at
grocery stores.
Ketail prices of pork and chicken
rose substantially during the winter,
largely because: reduced marketings of
hogs and broilers led to firmer prices
in wholesale markets. Fresh vegetable
prices were up sharply in the early
part of the first quarter because of unfavorable harvest conditions in winter
growing areas, and citrus price increases
resulted from a much smaller 1967-68
crop of oranges and grapefruit.
Service prices up sharply
Prices of consumer services rose 1%
percent during the first quarter, following increases of about 1 percent per
quarter in 1967. The latest quarterly
rise approximated some of the large
advances registered during 1966.
Since early 1966, the most pronounced
advances have occurred in prices of
household and medical care services.
Prices of household services have risen
irregularly but at quarterly rates averaging 1% percent over this period.
Rapidly rising mortgage interest rates
led to substantial gains in this index
during 1966; after diminishing somewhat in 1967, the gains accelerated in
the first quarter of this year. Increases
in postal fees and in hourly wage rates
applicable to housekeeping services
were also important in the recent advance. Prices of medical care services
have been rising faster than any other
major component of the CPI. After
increases of approximately 2% percent
in the quarters immediately following
the initiation of Medicare in mid-1966,
the rate of increase tapered off starting
in the spring of 1967 but rose more than
2 percent from last December to this
March. Charges for hospital services
and fees of doctors and dentists continued to climb sharply.
SURVEY OF CURRENT BUSINESS
May 1968
Nonfood
commodities
Prices of most nonfood commodities,
both durable and nondurable, have increased this year, but not so rapidly as
in the last half of 1967. Among durable
goods, new car prices have changed
little since their increase at the introduction of the 1968 models last fall,
and used car prices have also been quite
stable. However, prices of household
durables have risen sharply. Among
nondurables, apparel prices have continued to rise at a rapid pace.
Thus, all of the first quarter rise in
total dollar profits was attributable
to the rise in the physical volume of
corporate output. Early in 1967, when
demand was not so buoyant, prices
rose less than costs and profits were
squeezed.
I CHART 2
First Quarter Corporate Profits
PRELIMINARY corporate profits, as tered in the fourth quarter of 1967
measured in the national income ac- and returned to the level they had
counts, increased about $1% billion or 2 attained in the third quarter of last
percent in the opening quarter of 1968, year. Undistributed corporate profits
to reach a seasonally adjusted annual rose $1% billion in the opening quarter,
rate of $84}£ billion. The increase was and with depreciation up more than
an extension of the advance that began $K billion, corporate cash flow (net
after the sharp decline in the early part of dividends) rose $2 billion to a new
of last year. Although the rise slowed record of $70 billion.
down in the first quarter of 1968, the
level of profits virtually matched the
record achieved in the final quarter of Unit costs and profits
1966.
Judged by past experience, the first
First quarter book profits (which quarter increase in corporate profits
include gains or losses due to the differ- on a national income basis was small
ence between the replacement cost of considering the large rise in GNP.
goods taken out of inventory and their The moderate rise in profits may be
recorded Acquisition cost) were up analyzed in the context of the unit
considerably morer than the national costs of nonfinancial corporations (chart
income measure—$3% billion or 4% per- 2).
cent-—for a record total of $88% billion.
Unit labor costs showed an increase
The inventory valuation adjustment of 1% percent over the fourth quarter
as the increase in wage rates outalmost doubled in the first quarter.
More than $1% billion of the $3% stripped the gain in productivity.
billion rise in book profits was absorbed Nonlabor costs per unit of output
by higher income tax accruals; the were virtually unchanged. With derest ($2 billion) reflected a rise in mand strong, all of the increase in unit
after-tax profits, which reached a peak labor costs was passed on in the form
of $52% billion. Dividends rose $% of higher prices, profit margins being
billion above the depressed total regis- maintained at the fourth quarter level.
Prices, Costs, and Profits Per Unit
of Real Corporate Product
Prices moved up in first quarter
Dollars
1.15
,
rei ;eocpbmt0
1.10
1.05
as did unit labor costs
.75
COMPEN$ATIQ}l;,qF <;'}>';•:^"
.70
.65
Nonlabor costs were unchanged
.25
.20
and unit profits were stable
.20
PROFITS (BEFORE TAX) AND IVA '
-per unit
, ' -
.15 I
<
i
1965
i
1966
1967
Quarterly, Seasonally Adjusted
Note.-Nonfinancial corporations only.
U.S. Department of Commerce, Office of Business Economics
1968
SUKVEY OF CUKEENT BUSINESS
May 1968
NATIONAL INCOME AND PRODUCT TABLES
1966
1966
1967
IV
II
1966
1968
1967
III
IV
I
1966
1967
1967
IV
Seasonally adjusted at annual rates
II
1968
III
IV
Seasonally adjusted at annual rates
Billions of current dollars
Billions of 1958 dollars
Table 1.— Gross National Product in Current and Constant Dollars (1.1, 1.2)
-_ __ 743.3
762.1
766.3
775.1
791.2
807.3
826.7
652.6
669.3
661.1
660.7
664.7
672.0
679.6
689.7
491.7
473.8
480.2
489.7
495.3
501.8
518.7
418.0
430.1
420.4
424.2
430.6
431.5
434.0
444.7
70.3 72.1
207.5 217.5
__ 188.1 202.1
70.6
210.3
192.9
69.4
214.2
196.6
72.5
217.2
200.0
72 7
218.5
204.1
73.8
220.3
207.7
71 3
78 4
228.1 187.7
212. 1 159.1
72.1
193.0
165.0
71.1
188.4
160.9
69 7
191.8
162.6
72 9
193.6
164.1
72.7
192.8
166.0
73.0
193.6
167. 4
77.1
198.6
169.0
118.0
112.1
122.2
110.4
105.1
112 2
120.8
118.0
105.6
96.9
108.4
96.9
91.3
96.4
103.0
99.5
104.6
107.0
103.7
103.3
104.6
108 4
111.6
115 4
93 0
92.1
91.2
90.2
90 9
92.9
94.4
96.9
80.2
27.9
52.3
82.6
26.8
55.7
82.8
27.7
55.1
81.9
27.7
54.2
81.5
26.3
55.2
82.8
26.6
56.2
84.0
26.7
57.3
87.2
28 5
58.7
72.8
23 6
49.2
73.0
21.8
51.2
74.2
23.0
51.2
73.0
22,9
50.1
72.6
21.7
51.0
73.2
21.5
51.7
73.3
21.4
52.0
75.5
22.7
52.8
24.4
23.8
.5
24.4
23.9
.6
20.9
20.4
5
21.4
20.9
.6
23.1
22.5
.6
25.6
25.0
6
27.6
27.0
.6
28.2
27.6
6
20.2
19.7
5
19.1
18.6
.5
17.0
16.5
.5
17.3
16.8
.5
18.3
17.8
.5
19.7
19.2
.4
21.0
20.6
.4
21.4
21.0
.4
13.4
13 7
—.3
-
785.0
465.9
Gross national product.
5.2
4.8
.4
18.5
19 0
—.5
7.1
7.3
—.2
.5
.6
-.1
3.8
34
.4
9.2
7.7
1.5
2.7
18
.9
12.6
12.9
—.3
4.8
4.4
.4
17.2
17.7
—.5
6.7
6.8
-.2
.4
.5
1
3.5
3.2
.4
8.7
7.2
1.5
2.5
1.7
.9
Personal consumption expenditures
Durable goods
Nondurable goods
Services
_
-.
_ _
Gross private domestic investment
Fixed investment
Nonresidential
_
Structures
Producers' durable equipment—
Residential structures
Nonfann
Farm
_
_ _ _ _
Change in business inventories.
Nonfarm
Farm
__
51
4.8
4.3
5.3
5.3
5.4
3.0
1.7
4.4
3.6
3.2
4.1
4.1
4.2
1.9
.6
_
43 0
37.9
45.3
40.6
44.0
39.7
45.3
39.9
45.1
39.8
45 6
40.2
45.4
42.4
47 2
45.5
40.8
36.4
42.5
38.9
41.2
38.0
42.4
38.3
42.3
38.2
42.8
38.6
42.5
40.7
44.3
43.7
Government purchases of goods and services
154 3
176.3 161 7
Net exports of goods and services
_
Exports
Imports.
_ __
State and local
170 4
175.0
178 2
181.7
188.3
124 5
138.7
129 1
135.5
138.7
139.9
140. 7
145.0
77 0
60.5
16 5
89 9
72.5
17 4
81 5
65.6
15 9
87 1
70.2
16 8
89 5
72.5
17 0
90 9
73.3
17 6
92 2
74.2
18 0
96 2
76 7
19 5
64 7
74.1
67.8
72.3
74.4
75.1
74.7
77.9
77 2
FederalNational defense
Other
86 4
80 2
83 3
85 4
87 4
89 5
92 1
59 9
64 6
61 3
63 2
64 3
64.9
66.0
67.1
664.7
672.0
679.6
689.7
671.0
8.7
687.2
2.5
Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
Gross national product...
743.3
Final sales
_
Change in business inventories
_
_ _
_
729.9
13.4
785. 0
762.1
766.3
775.1
779.8
5.2
743.6
18.5
759.2
7.1
774.6
.5
791 2
807. 3
826.7
652 6
669.3
661.1
660.7
787 4
3.8
798.1
9.2
824.0
2.7
639.9
12.6
664.5
4.8
643.9
17.2
654.0
6.7
664.3
.4
668.5
3.5
379 6
396.0
391 7
388 1
392.1
398 7
405.2
415.2
353.7
361.4
361.1
356.6
359.5
362.9
366.5
372.5
Final sales
Change in business inventories
366 2
13.4
390 8
5.2
373 2
18.5
380 9
7.1
391 6
.5
394 9
38
396 0
9.2
412 5
2.7
341 0
12.6
356.6
4.8
343. 9
17.2
349.9
6.7
359.1
.4
359.4
3.5
357.8
8.7
369.9
2.5
Durable goods
Final sales.—
Change in business inventories
154. 6
144. 7
9.9
158.5
155.7
2.7
161.1
148.3
12.8
153.9
150.5
3.4
155.5
156.0
-.6
161.4
157.9
3.5
163.1
158.6
4.5
166.3
165.1
1.2
150.0
140.6
9.3
150.2
147.8
2.4
154.2
142.3
11.9
146.6
143.6
3.0
148.3
148.9
-.6
153.0
149.8
3.2
152.9
148.8
4.1
154.9
153.8
1.1
Nondurable goods.
Final sales . _"
Change in business inventories
225.0
221 5
3.5
237.5 230.6
235 1 224 9
2.5
5.7
234.2
230 5
3.7
236.6 237 3
235 5 237 0
1.1
.3
242.1
237 4
4.7
248 9
247 4
1.5
203.7
200 4
3.3
211.2
208.8
2.4
206.9
201.6
5.3
210.0
206.3
3.6
211.2
210.2
1.0
209.8 213.6
209.5 209.0
4.6
.3
217.6
216.1
1.5
287 2
311 2
296 9
303 1 307 8
320 3
326.7
235 2
245.8
239.8
242.7
244.4
246.9
249.2
251.4
73 5
75.2
63.7
62.1
60.2
61.3
60.8
62.3
64.0
65.8
660 7
664.7
672.0
679.6
689.7
602.7
606.0
612.5
619.6
628.9
599.2
574.4
24.7
608.7
584.3
24.3
15.6
16.0
Goods output
Services
Structures
76 5
77 8
75 2
313 5
79 0
81 8
84.8
Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product
743 3 785 0
Private
666 7
Business
Nonfarm
Farm
_
_
Households a n d institutions
__
Rest of the world..
General government
699.6
762 1
681 9
766 3
683 9
775.1
690.9
791 2
705 2
807 3
718 7
826 7
736.1
652 6
597 5
669 3
610.2
661 1
604.2
642 4
617.6
24 8
673 6
649 6
24 0
656 9
633 0
23 9
658 7
635 1
23 6
665 3
641 9
23 3
679 0
654 6
24 4
691 4
666 6
24 8
708 7
683 7
25 o
578 9
556 4
22 4
590 5
566.4
24 1
585 1
562.7
22 4
583.6
559.9
23 7
586.6
563.0
23 6
592.7
568.4
24.2
20.1
21.5
20 6
21.1
21 4
21 2
22 1
22 9
14 7
15.3
14.9
15.1
15.3
15.0
42
46
44
41
42
49
51
45
40
44
43
4.0
4.0
4.8
4.9
4.3
59.6
60.0
60.8
76 6
85 3
80 2
82 5
84 2
86 0
88 6
90 6
55 0
59 1
56 9
57.9
58.7
SURVEY OF CURRENT BUSINESS
May 1968
1966
1967
rv
I
II
1966
1968
1967
1966
III
IV
1966
I*
1967
65.5
66.4
67.6
68.6
69.4
679.8 717.9 697.4 700.8 708.7 723.6 738.7 757. 3
Equals • Net national product
Less: Indirect business tax and nontax
liability
-. 65.1 69.7 67.0 67.9 69.1 70.2 71.4 73.0
2.8
2.8
2.8
2.8
2.8
2.8 2.8
2.7
Business transfer payments
—2.6 -3.0 -3.8 -4.0 -2.8 -1.2 -3.5 -4.0
Statistical discrepancy.
Plus: Subsidies less current surplus of
government enterprises
Equals : National income
2.2
1.7
2.6
2.3
2.0
1.6
1.2
.7
-. 616.7 650.2 634.1 636.4 641.6 653.4 669.3 686.2
Less: Corporate profits and inventory
valuation adjustment
Contributions for social insurance
Wage accruals less disbursements
- .- .
Plus: Government transfer payments
to persons
...
Interest paid by government
(net) and by consumers
.
Dividends
Business transfer payments
82.2
79.6
84.6
78.1
78.3
79.2
82.7
84.3
38.2
43.0
39.8
42.2
42.5
43.3
44.1
47,4
.0
.0
.0
.0
.0
.0
.0
.0
41.2
49.1
44.7
48.1
48.6
49.6
50.1
52.8
22.3
21.5
2.7
24,1
22.8
2.8
23.2
21.2
2.8
23.7
22.2
2.8
23.9
23.1
2.8
24.2
23.4
2.8
24.7
22.4
2.8
25. 5
23.2
2.8
584.0 626.4 601.6 612.9 619.1 631.0 642.5 659.0
Equals: Personal income _ . .
IV
I*
616.7 650.2 634.1 636.4 641.6 653.4 669.3 686.2
National income
743.3 785.0 762.1 766.3 775.1 791.2 807.3 826.7
64.7
III
Table 6.—National Income by Type of Income (1.10)
Table 4.—Relation of Gross National Product, National Income,
and Personal Income (1.9)
67.0
II
Billions of dollars
Billions of dollars
Less: Capital consumption allowances . 63.5
I
IV
1968
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Gross national product
1967
435.7 469.7 450.2 459.1 463.4 472.6 483.6 497.6
Compensation of employees
394.6 423.8 407.4 414.7 418.3 426.2 435.9 447.6
Wages and salaries
Private
.
Military...
.
Government civilian
. . ... 316.7 337.5 326.1 331.4 333.2 339.4 346.2 355.9
14.7 16.4 15.8 .16.1 16.2 16.3 17.3 17.6
63.2 69.8 65.6 67.3 68.9 70.6 72.5 74.0
Supplements to wages and salaries. .. 41.1
Employer contributions for social
20.3
insurance
45.9
42.7
44.4
45.2
46.4
47.6
50.0
22.6
21.1
22.2
22.3
22.8
23.3
24.8
23.2
21.7
22 2
22.9
23.6
24.3
25 2
59.3
58.4
58.6
57.8
57 8
58.8
59.3
59 9
43.2
Business and professional
Income of unincorporated enter43.6
prises
Inventory valuation adjustment - -.4
43.6
43.4
43 2
43 4
43 8
44 1
44 4
Other labor income
Employer contributions to private pension and welfare funds
Other
Proprietors* income
Farm
17.3
3.5
44.0
—.4
16.1
Rental income of persons
Corporate profits and inventory valuation adjustment
_
Profits before tax
Profits tax liability
.
Profits after tax _
Dividends
Undistributed profits
Inventory valuation adjustment
Net interest
Table 5.—Gross Auto Product in Current and Constant Dollars
(1.15, 1.16)
20.8
14.8
15 1
14 6
14 3
15 0
15 *
15 5
19 4
20 1
19 6
19 8
20 0
20 2
20 4
20 6
82.2
79.6
84 6
78 1
78. 3
79 2
82 7
84 3
83 8
80 7
83 9
79 0
78 9
80 0
85 1
88 8
34.5
49.3
21 5
27.8
33 2
47.5
22 8
24.7
34 6
49.3
21 2
28 2
32 5
46.5
22 2
24 2
32 5
46.5
23 1
23 4
32 9
47.1
23 4
23 6
35 0
50.1
22 4
27 6
36 6
52.2
23 2
28 9
-1.6
20 2
-1.2
22 4
.7
-.8
-.7
-.8 -2.3 -4.5
21 1
21 6
22 1
22 7
23 3
23 9
Table 7.—National Income by Industry Division (1.11)
Billions of current dollars
All industries, total
Gross auto product 1
29.8
27.7
29.6
27.9
29.9
32.3
Personal consumption expenditures. 24.9
4.4
Producers' durable equipment
.4
Change in dealers' auto inventories.
23.9
4.2
-.5
24.5 22.2 24.6 24.5
4.3
4.3 3.9
4.3
.6 -1.1 -1.2 -1.2
24.3
4.3
1.3
27.0
4.8
•8
Net exports.
Exports
Imports
.0
1.3
1.2
-.1
1.6
1.7
.0
1.5
1.5
-.3
1.3
1.6
-.1
1.6
1.7
.1
1.9
1.7
-.2
1.8
2.0
-.6
1.6
2.2
27.6
1.8
25.3
2.6
27.4
2.1
22.8
2.2
25.3
2.7
25.4
2.6
27.6
2.7
29.0
3.8
25.0
27.8
Addenda:
New cars, domestic 2 _ . . . .
New cars, foreign.
...
Billions of 1958 dollars
Gross auto product 1
Agriculture, forestry, and fisheries
Mining and construction
Manufacturing
..
Nondurable goods
Durable goods
24.8
12.4
12.1
90.8
26.1 25.4
13.1 12.7
12.8 12.3
96.1 92.6
25.5
12.8
12.4
93.5
25.7
13.0
12.6
94.9
26.5
13.2
12.9
96.9
26.9
13.2
13.1
99.2
Finance, insurance, and real estate
Services
Government and government enterprises
Rest of the world. _
65.6
69.3
70.4
74.7
67.5
71.3
68.4
72.6
69.6
74.1
70.9
75 3
72.5
76 9
84.6
4.2
93.9
4.6
88.4
4.4
90.8
4.1
92.5
4.2
94.5
4.9
97.6
5.1
Table 8.—Corporate Profits (Before Tax) and Inventory Valuation
Adjustment by Broad Industry Groups (6.12)
29.4
31.6
23.9
4.1
1.3
26.5
4.6
.8
-.2
1.8
2.0
-.5
1.6
2.2
Financial institutions
New cars, domestic 2
New cars, foreign.
27.3
2.7
28.7
3.7
Non financial corporations
1
25.5
2.5
27.8
2.1
23.3
2.2
25.8
2.7
25.6
2.6
The gross auto product total includes government purchases, which amount to $0.2 billion
annually for the periods shown.
2 Differs from the gross auto product total by the markup on both used cars and foreign cars
*First quarter 1968 corporate profits (and related components and totals) are preliminary
and subject to revision in next month's SURVEY.
22.7 21.8 22.0 21.6 21.3 22.0 22.2
38.2 40.2 38.7 39.8 39.7 40.3 40.9
192.1 196.7 198.8 195.0 194.0 196.0 201.6
73.2 76.3 75.3 75.9 75.1 75.9 78.1
118.9 120.4 123.5 119.2 118.9 120. 0 123.5
Transportation
Communication
Electric, gas, and sanitary services
Wholesale and retail trade
30.3 27.7 29.9 25.3 28.2 27.9
Personal consumption expenditures . 25.4 . 24. 0 24.7 22.6 25.0 24.6
Producers' durable equipment _ _ . . _ . 4.4 4.1 4.3 3.9 4.3 4.3
Change in dealers' auto inventories. . .4 -.6
.7 -1.1 -1.3 -1.3
Net exports
.1 -.1
.1 -.2
.0
.2
Exports ._
1.3 1.7
1.5
1.3 1.6
1.9
Imports
1.2
1.7
1.5
1.6
1.7
1.7
Addenda:
28.2
1.8
616.7 650.2 634.1 636.4 641.6 653.4 669 3 686.2
All industries, total
Mutual _
Stock
M anuf actur ing
Nondurable goods.
Durable goods
Transportation,
communication,
and public utilities
All other industries
82.2
79.6
84.6
9.3
9.7
9.6
78.1 78.3
9.6
9.5
79.2
82.7
84.3
9.6
10.0
10.5
73.8
1.9
7.4
72.9
69.9
75.0
68.5
68.8
69.6
72.7
43.1
18.7
24.4
39.3
18.0
21.3
44.4
19.2
25.3
39.6
18.4
21.1
38.9
17.8
21.1
QD
0
17.7
20.5
40.6
18.3
22.4
11.9
18.0
12.0
18.6
12.0
18.6
11.7
17.3
11.9
18. 0
12.1
19.3
12.3
19. 8
SURVEY OF CURRENT BUSINESS
6
1966
1966
1967
IV
1968
1967
I
II
III
May 1968
rv
1966
I*
1966
1967
Seasonally adjusted at annual rates
1967
I
IV
II
1968
III
IV
I
Seasonally adjusted at annual rates
Billions of dollars
Billions of dollars
!
Table 9.— Gross Corporate Product (1.14)
Gross corporate product
Capital consumption allowances
.Indirect business taxes plus transfer
payments less subsidies
Table 10.—Personal Income and Its Disposition (2.1)
429.6 450.1 442.2 441.5 444.5 451.9 462.7 475.4
39.0
41.4
39.8
40.3
40.9
41.8
42.5
43.1
38.2
40.7
39.2
39.7
40.4
41.1
41.8
42.6
Income originating in corporate busi352.4 368.0 363.2 361.5 363.1 369.0 378.4 389.6
ness.Compensation of employees
Wages and salaries
Supplements
275.9 294.5 284.5 289.1 290.5 296.2 302.2 311.4
246.1 261.4 253.5 257.1 258.0 262.8 267.8 275.3
29.8 33.1 30.9 32.0 32.5 33.4 34.3 36.1
Net interest
-2.4 -2.5 -2.4 -2. 5 -2.5 -2.5 -2.5 -2.5
Corporate profits and inventory
valuation adjustment78.9 76.0 81. 2
Profits before tax
80.6 77.2 80.5
34.5 33.2 34.6
Profits tax liability
Profits after tax...
46.0 44.0 45.9
19.9 21.1 19.6
Dividends
26.1 22.8 26.3
Undistributed profits
Inventory valuation adjustment. . -1.6 -1.2
.7
74.9
75.7
32.5
43.2
20.7
22.5
-.8
75.1
75.8
32.5
43.3
21.6
21.7
-.7
75.3 78.7 80.8
76.1 81.1 85.3
32.9 35.0 36.6
43.2 46.1 48.7
21.6 20.6 21.6
21.6 25.5 27.1
-.8 -2.3 -4.5
584 0 626 4 601 6 612 9 619.1 631 0 642 5 659 0
Personal income
Wage and salary disbursements
394.6
C ommodity-producing i n dustries _ _ 159.3
Manufacturing
___
128.1
Distributive industries
93 9
Service industries
63.5
Government.
77.9
423.8 407.4 414.7 418.3
167.2 164.1 165.7 164.8
134.4 132.6 133.1 132. 6
100.9 96 5 98 7 99 6
69.5 65 5 67 0 68 8
86.3 81.4 83.4 85.0
426.2
167.4
134.6
101.7
70.2
86.9
435.9
170.8
137.2
103 4
71.9
89.8
447.6
175.8
141. 0
106 3
73.8
91.7
Other labor income
20 8
23 2
21 7
22 2
22 9
23 6
24.3
25 2
Proprietors' income
Business and professional
Farm
59 3
43 2
16 1
58.4
43.6
14.8
58 6
43 4
15 1
57 8
43 2
14 6
57 8
43 4
14 3
58.8
43.8
15.0
59.3
44.1
15.2
59.9
44.4
15.5
Rental income of persons
Dividends
Personal interest income
19 4
21 5
42.4
20.1
22.8
46.5
19 6
21 2
44.3
19 8
22 2
45.2
20 0
23 1
46 0
20.2
23.4
46.9
20.4
22 .4
48.0
20.6
23.2
49.5
51.9
47.5
50.8
51 4
52.4
52.9
55.6
25.7
23 2
24.7
25 6
26.2
26.4
27.9
2.1
6.6
17.5
1.8
6.3
16.2
2.1
6.5
17.6
2.1
6.5
17.0
2.2
6.6
17.4
1.9
6.7
17.9
2.0
6.9
18.7
85.0
65.1
85.3
64.2
85.6
66.1
83.5
62.8
84.2
62.6
85.0
63.3
88.6
68.1
91.8
70.2
Transfer payments _
_•
— 43 9
Old-age, survivors, disability, and
health insurance benefits
20 8
State unemployment insurance
1.8
benefits
—
_
5.7
Veterans benefits
15.6
Other
- —
Gross product originating in
financial institutions . 17.5
19.0
18.0
18.4
18.6
19.1
19.8
20.9
Less: Personal contributions for
social insurance
_'
—
17.9
20.4
18.7
20.0
20.2
20.5
20.8
22.6
Less: Personal tax and nontax payments
75.2
81.7
79.6
80.2
79.1
82.8
84.7
87.5
Cash flow, gross of dividends
Cash flow, net of dividends.-
Gross product originating in
412.1 431.2 424.2 423.1 425.9 432.8 442.9 454.5
nonfi nancial corporations
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies
37.9
40.2
38.6
39.1
36.5
38.9
37.5
37.9
39.8
38.6
40.6
41.4
41.9
39.3
39.9
40.7
Income originating in nonfinancial
corporations _ _
_ _ __ 337.7 352.0 348.0 346.1 347.5 352.9 361.6 371.9
Compensation of employees
Wages and salariesSupplements
Net interest
Corporate profits and inventory
valuation adjustment
Profits before tax
Profits tax liability
Profits after tax
Dividends .
Undistributed profits
Inventory valuation adjustment- ~
Cash flow, gross of dividends
Cash flow, net of dividends
261.3 278.3 269.5 273.7 274.6 279.8 285.3 294.0
233.4 247.4 240.5 243.7 244.1 248.5 253.2 260.3
27.9 31.0 29.1 30.0 30.5 31.3 32.1 33.8
6.7
7.3
65.3
66.1
28.1
38.0
19.2
18.8
-.8
65.6
66.3
28.2
38.1
20.0
18.1
-.7
65.7 68.8 70.3
66.5 71.1 74.8
28.5 30.4 31.8
38.0 40.7 43.0
20.1 19.0 20.1
17.9 21.7 22.9
-.8 -2.3 -4.5
79.3
61.1
77.2
57.9
77.9
57.9
78.6
58.5
78.9
59.3
82.1
63.1
84.9
64.8
Billions of 1958 dollars
Gross product originating in
nonfinancial corporations
383.0 387.9 389.0 384.7 385.3 387.7 393.7 400.7
Dollars
Current dollar cost per unit of
1958 dollar gross product
originating 2in nonfinancial
corporations
1.076 1.112 1.091 1.100 1.105 1.116 1.125 1.134
Capital consumption allowances.
.099 .104 .099 .102 .103 .105 .105 .105
Indirect business taxes plus transfer
payments less subsidies
.095 .100 ,096 .098 .100 .101 .101 .102
Compensation of employees.
.682 .718 .693 .711 .713 .722 .725 .734
Net interest
.018 .019 .018 .018 .019 .019 .019 .019
Corporate profits and inventory valuation adjustment
-.
.182
Profits tax liability
.079
Profits after tax plus inventory valuation adjustment— .103
Less: Personal outlays
479.0 505.9 487.4 493. 9 504.0 509.6 516.2 533.5
Personal consumption expenditures*. .465.9 491.7 473.8 480.2 489.7 495.3 501. 8 518.7
12 4 13.4 12.9 13.1 13.3 13.5 13.8 14.1
Interest paid by consumers
Personal transfer payments to for1.0
.7
.8
.7
.8
.6
.7
.6
eigners
Equals: Personal saving.
29.8
Addenda:
Disposable personal income :
Total billions of 1958 dollars
7.0
69.7 66.3 71.5
71.3 67.5 70.8
30.3 28.8 30.2
41.0 38.7 40.6
18.5 19.6 18.2
22.5 19.1 22.5
.7
-1.6 -1.2
78.9
60.4
Equals : Disposable personal income. _ . 508.8 544.7 522.0 532.7 540.0 548.2 557.9 571.5
.171
.074
.184
.078
.170
.073
.170
.073
.169
.073
.175
.077
.175
.079
.097
.106
.097
.097
.096
.097
.096
38.7
34.6
38.8
36.0
38.5
41.6
38.0
456.3 476 5 463 2 470 6 474.9 477.5 482.6 490.1
Per capita current dollars
Per capita, 1958 dollars
__ _
2 584 2,736 2,639 2,686 2,716 2,749 2,789 2,851
2,317 2,393 2,341 2,373 2,388 2,394 2,413 2,445
Table 11.—Personal Consumption Expenditures by Major Type (2.3)
Personal consumption expenditures
465 9 491.7 473 8 480.2 489.7 495.3 501.8 518.7
70.3 72.1 70.6 69.4 72.5 72.7 73.8 78.4
Durable goods
29.8
Automobil e s and parts
Furniture and household equipment . 29.9
10.6
Other
29.3
32.0
10.9
29.6
30.6
10.4
27.3
31.4
10.7
29.7
31.9
10.9
29.9
32.1
10.8
30.1
32.6
11.1
33. 2
34.2
11.0
207.5 217.5 210.3 214.2 217.2 218. 5 220.3 228.1
106.7 110.6 107.2 109.3 110.1 110.9 112.2 115.1
40.3 42.8 40.8 41.5 43.2 43.7 43.1 45.4
16.2 17.5 16.6 17.1 17.5 17.5 17.8 18.6
44.3 46.6 45.7 46.3 46.4 46.4 47.2 49.0
Nondurable goods
Food and beverages
Clothing and shoes
Gasoline and oil. Other
188.1 202.1 192.9 196.3 200.0 204.1 207.7 212.1
Services
Housing...
Household operation
Transportation
Other .
67.1
27.0
13.6
- 80.4
71. 3
28.2
14.7
87.8
68.5
27.7
14.0
82.7
69.6
27.8
14.4
84.8
70.6
28.1
14.6
86.6
71.9
28.1
14.8
89.2
73.3
28.8
15.1
90.6
75.0
29.1
15.5
92.6
Table 12.—Foreign Transactions in the National Income and
Product Accounts (4.1)
* First quarter 1968 corporate profits (and related components and totals) are preliminary
and subject to revision in next month's SURVEY.
1 Excludes gross product originating in the rest of the world.
2
This is equal to the deflator for gross product of nonfinancial corporations, with the decimal
<
tint shifted two places to the left.
Receipts from foreigners
43.0
45.3
44.0
45.3
45.1
45.6
45.4
47.2
Exports of goods and services
43.0
45.3
44.0
45.3
45.1
45.6
45.4
47.2
43.0
45.3
44.0
45.3
45.1
45.6
45.4
47.2
37.9
40.6
39.7
39.9
39.8
40.2
42.4
45. 5
2.9
.6
2.3
2.9
.8
2.1
2.5
.6
1.9
2.9
.7
2.2
3.1
1.0
2.0
3.1
.8
2.3
2.7
.7
2.0
2.9
.7
2.2
2.2
1.8
1.8
2.5
2.3
2.3
Payments to foreigners
Imports of goods and services
Transfers to foreigners.
Personal
Gover nment
Net foreign investment
—
.3 -1.2
SURVEY OF CFKRENT BUSINESS
May 1 6
98
1966
1967
IV
I
III
II
IV
1966
I*
1967
I
IV
Table 13.—Federal Government Receipts and Expenditures (3.1, 3.2)
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax
accruals. .
.. ._ .. — .. .-.
Contributions for social insurance.
149.1 148.1 152.7
66.5
31.0
65.2
32.3
65.5
30.3
64.0
30. 3
67.5
30.6
69.1
32.5
71.6
34.0
15.9
33.3
16.6
37.7
16.3
34.7
16.2
37.0
16.5
37.2
16.7
38.0
17.0
38.7
17.4
41. 8
164.3 151.9
160.9 162.8 165.9
89.9
72.5
17.4
81.5
65.6
15.9
87.1 89.5
70.2 72.5
16.8 17.0
90.9
73.3
17.6
92.2
74.2
18.0
96.2
76.7
19.5
36.0
-. 33.7
2.3
42. 9
40. 7
2.1
38.8
36.9
1.9
42.2
40.0
2.2
42.4
40.3
2.0
43.5
41.2
2.3
43.3
41.3
2.0
45.9
43.7
2.2
Grants-in-aid to State and local gov14.8
ernments
16.0
15.6
15.6
15.3
16.0
17.1
18.2
9.5
10.5
10.0
10.4
10.4
10.5
10.7
11.1
Transfer payments
To persons. _.To foreigners (net)
•
-... -
.
Net interest paid
Subsidies less current surplus of government enterprises
Surplus or deficit (—), national
income and product accounts. ._ .
Personal consumption expenditures
Durable goods
Nondurable goods
Services.. .-
Fixed investment
112.5 116.1 113.7 114.4 115.0 116.8 118.2 119.0
Nonresldential
110.2 113.1 111.6 112.2 112.2 113.2 114.6 115.5
Structures. . ..
'.
118.4 122.8 120.1 121.0 121.5 123.8 125. 0 125.6
Producers' durable equipment.. 106.2 108.9 107.7 108.2 108.3 108.8 110.3 111.2
5.4
5.1
5.9
5.6
5.3
5.0
4.6
4.2
.3 -12.5 -3.3 -11.9 -14.7 -13.2 -10.7 -10.7
84.7
Change in business inventories - .
Exports
Imports-
105.4 106.7 106.7
104.1 104.3 104.3
Government purchases of goods and
services
Surplus or deficit (—), national
income and product accounts
87.9
89.3
90.4
92.6
95.0
14.3
2.3
14.7
2.1
15.1
2.1
15.4
2.3
15.6
2.5
15.9
2.5
53.1
5.3
16.0
50.6
5.0
15.6
51.7
5.2
15.6
52. 6
5.3
15.3
53.5
5.4
16.0
54 4
5.4
17.1
55.6
5.6
18.2
81.8
91.7
84.9
88.3 90.6
92.7
95.1
98.0
Structures
77.2
7.5
.3
86.4
8.4
.2
80.2
7.8
.3
83.3 85.4
8.1 8.3
.2
.2
87.4
8.5
t2
89.5
8.8
.2
92.1
9.1
129.1 129.9
Addendum:
3.3
3.4
3.4
3.4
3.3
3.4
3.4
3.4
2.9
.1
3.0
1.0
2
-.1
-.2
-.3
Gross national product-
Durable goods_._-..
Nondurable goods..
is
...
119. 5 129 3 128 2
34 6
28.2
38 8
24.2
36 0
23.4
_ 7
38 5
23.6
39 g
40 3 40 9
24 9
.0
25 2
.0
7
— 8
25 5
.0
41 6
27.6
38 0
28.9
— 8 —2 3
45
41 8
42 5
26 1
.0
116.0 116.6
117.7
118.8119.9
109.6 108.5 108.8 109.0
109.9
110.6111.5
115.3
103.1 105.5 104.5 104.9 104.8 105.5 106. 7 107. 4
110.4 112.5 111.5 111. 5 112.0 113.1 113.4114.4
122.1
126.6 123.8 124.9
125.9
127.0 128.6129.9
125.3 122.0
123.8
126.9
127.8128.9
98.8
99.8
101.5102.0
'8.2
122.6
99.0
98.8
Table 18.—Implicit Price Deflators for Gross National Product by
Sector (8.4)
_'
113.9
117.3
115.3
116.0
116.6
117.7
118.8119.9
111.6
114.7 112.9
113.5
114.0
115.1
116.0117.0
Business...
Nonfarm _
Farm
111.0 114.1 112.3 112.9 113.4 114.6 115. 4 116. 4
111.0 114.7 112.5 113.4 114.0 115.2 116.1 117.0
110.7 99.7 106.7
100.6 100.3 102. 7
Households and institutions
137.0 140.6
General government
139.2 144.5 141.0
14275 143.4
144.5
147.7149.1
43 1
25 8
.0
117.3
120.1
Gross auto product.
Private ._
127 7 125 1 129 0 135 5 131 9
113.9
107.3
Goods output. _ _ _ _
Services
Personal saving
29 8 38 7
Undistributed corporate profits
24.7
27.8
Corporate inventory valuation adjustment
... _
—1.6 —1 2
Corporate capital consumption
allowances
.
39 0 41 4
Noncorporate capital consumption
allowances _
24 5 25 7
Wage accruals less disbursements.. .. .0
.0
26 3
.0
HISTORICAL DATA
3 2 —12 4
3 —10 8
Federal.
State and local
3 —12 5 3 3
1 30
29
Gross investment
120 2 114 0 124 0
11 9
1*0
15 0
13 3
10 8
11 0
14 7
2
13 2
1
1ft 7
- ^in 7
2
0
112 9 107 3 114 5 121 1 lift &
Gross private domestic investment. 118.0 112.1 122.2 110.4 105.1 112.2 120.8 118.0
3 1 2•
Net foreign investment
25 23 23
2.2
18 18
Statistical discrepancy.
-2.6 —3 0 — 3 8 —4 0 2 g
12 35 40
*First quarter corporate profits (and related components and totals) are preliminary and
inlfint to rP.VlSlftn in novf •mrm+'h'c QTTDinpxr.
subject tri revision in next month's SUBVEY.
127.4
97.7
15.2
2.3
Table 15.—Sources and Uses of Gross Saving (5.1)
Government surplus or deficit (—),
national income and product
accounts
127.1 125.2 125.8 126.1
119.1 121.3 120.2 120.5 120.3 121. 0 123.4 123.6
129.0 133.8 130.8 131.9 132.9 134.7 135.6 137.3
Gross national product-
Gross private saving
123.9
Table 17.—Implicit Price Deflators for Gross National Product by
Major Type of Product (8.2)
91.8
Personal tax and nontax receipts
13.5
Corporate profits tax accruals
2.3
Indirect business tax and nontax
accruals. .
49.2
Contributions for social insurance. .. 4.9
Federal grants-in-aid
14.8
Purchases of goods and services
Transfer payments to persons
Net interest paid
Less: Current surplus of government
enterprises.
120.9 128.0 123.2 123.8 126.2 129.9 131.0 131.4
121.1 128.1 123.4 124.0 126.4 130.1 131.2 131.5
114.1 120.4 115.9 117.3 118.8 122.4 123.2 124.6
Residential structures
Nonfarm
Farm
_.
Net exports of goods and services
Table 14.—-State and Local Government Receipts and Expenditures
(3.3,3.4)
State and local government expenditures _
113.9 117.3 115.3 116.0 116.6 117.7 118.8 119.9
111.5 114.3 112.7 113.2 113.7 114.8 115.6 116.6
98.6 100.0 99.4 99.5 99.5 100.1 101.1 101.7
110.6 112.7 111. .6 111.7 112.2 113.3 113.8 114.9
118.3 122.5 119.9 120.9 121.9 123.0 124.1 125.5
-
Federal
State and local
State and local government receipts
I
Gross private domestic investment
167.9 175.6
77.0
60.5
16.5
Purchases of goods and services
National defense. . .
Other
. -----
IV
Table 16.—Implicit Price Deflators for Gross National Product (8.1)
Gross national product. _ _
157.3 164.9
61.7
32.3
142.9
Federal Government expenditures.
151.8 148.6
III
Index numbers, 1958=100
Billions of dollars
143.2
II
Seasonally adjusted
Seasonally adjusted at annual rates
Federal Government receipts
1968
1967
1966
1968
1967
1966
Historical national income and product data are available from
the following sources:
1964-66: July 1967 SURVEY OF CURRENT BUSINESS.
1929-63: The National Income and Product Accounts of the
United States, 1929-65, Statistical Tables (available from any
U.S. Department of Commerce Field Office or from the Superintendent of Documents, U.S. Government Printing Office,
Washington, D.C. 20402, price $1.00 per copy).
SURVEY OF CURRENT BUSINESS
8
Several considerations warranted this
gradual approach to credit restraint.
Interest rates had been posting strong
advances throughout most of 1967—
bond yields after midwinter and short
term rates after midyear. It was therefore likely that a strong dose of monetary restraint would send financing
costs spiraling higher. Under such
circumstances, savings institutions, noIn late 1967, the Federal Reserve
System responded to rising inflationary
tably savings and loan associations and
pressures by shifting monetary policy
mutual savings banks, would have a
toward restraint. The System's approach
serious problem with deposit withto credit tightening was gradual until
drawals following their end-of-year divi- *
early 1968 but became more aggressive
dend and interest payments. Moreover,
after February. Since the shift to credit
restraint, short term interest rates
in determining the degree of restraint,
have risen sharply and the expansion
the System also had to consider the
in most monetary variables has slowed
impact of a sharp rise in U.S. interest
considerably.
rates on Great Britain. With the pound
still under pressure following devaluation, there was concern that a severe
application of the monetary brakes
Federal Reserve policy
here might attract a flow of short term
The shift toward restraint late last international funds to this country and
year was related to several develop- thus worsen an already precarious
ments. First, it became increasingly ap- situation in England. Also, the pursuit
parent that the economy was recovering of tighter credit was constrained by the
from the inventory adjustment and need immediately ahead for an "even
general sluggishness that had dominated keel" policy in support of large Treasury
the first half of 1967. Second, with the debt-financing operations.
settlement of major strikes and with no
action taken on the President's fiscal Increased restraint
program, the monetary authorities exBy late February, the economic
pected a further buildup of inflationary
environment had changed substantially.
pressures. Third, concern was mounting
over the balance of payments deficit and Further evidence pointing to an acthe international position of the dollar. celeration in business activity had
The initial approach to tighter credit accumulated, the Treasury's current
conditions was one of caution. On financing operations were completed,
November 19, the day after Britain's and the savings intermediaries had
devaluation of the pound and increase come through the January dividend
in the bank rate from 6K to 8 percent, date with moderate net withdrawals.
Then came the turbulent events
the Federal Reserve System raised the
of March—the speculative flight from
Reserve bank discount rate from 4 to
4% percent. Open market operations dollars and other currencies and the
became mainly defensive in character, run on gold, the temporary closing of
leaning toward slightly less credit ex- the London Gold market, the terminapansion when conditions in financial tion of the "gold pool's" operations,
markets permitted. On December 27, and the introduction of the two-price
but effective in mid-January, the System system for gold. The events of midraised the reserve requirements on March emphasized the necessity of a
demand deposits above $5 million at reduction in the U.S. payments deficit.
With the dollar in crisis and with a
each bank. This increase, from 16% to
17 percent at Reserve city banks and change in the economic setting, the
from 12 to 12% percent at country monetary authorities moved more
banks, was designed to absorb some aggressively toward restraint. The Fed$550 million in reserves with a minimum eral Reserve discount rate was raised
impact on the interest rate structure. on March 22 to 5 percent and again
Monetary Policy Shifts to Restraint
IN recent months, the Federal Reserve
System has moved decisively to take a
restrictive stance with monetary policy.
After pursuing highly stimulative credit
policies throughout most of 1967, the
System began to shift toward restraint
late last fall. Efforts in this direction
were gradual until early 1968 but became aggressive in March and April.
Since the turn to credit tightening, and
especially since February, short term
interest rates have risen sharply, commercial bank borrowing at Federal
Reserve banks has approached the
levels reached at the height of the credit
stringency in 1966, and the expansion
in bank credit has slowed appreciably.
CHART 3
Member Bank Borrowings and
Excess Reserves
1965
1966
1967
1968
Monthly
Data: FRB
U.S. Department of Commerce, Office of Business Economics
68-5-3
May 1968
May 1968
STJRVEY OF CURRENT BUSINESS
on April 19 to 5% percent—its highest ally adjusted annual rate of 6.2 percent
level since 1929. Also, open market from November through February, and
operations were employed to tighten at a rate of only 1.2 percent from Febthe reins on the commercial banking ruary through April.
system. Although the System made
The growth in time deposits at comlarge purchases ol Government securi- mercial banks has slowed sharply since
ties, these were mainly to cushion the the turn to credit tightening. After inimpact of substantial gold outflows and, creasing at a 16 percent rate for the 12
on balance, open market operations months ending last November, the
were not a source of net increase in growth in seasonally adjusted time decommercial bank reserves.
posits has since slackened to an annual
Reflecting both the degree of tight- rate of 5.8 percent through April.
ness in money and credit markets and
the speed at which it occurred, member Regulation Q
bank borrowings from Federal Reserve
In addition to utilizing all the tradibanks rose steadily, from a daily avertional tools of monetary policy, the
age of $133 million in November to $361
million in February and then to $671 Federal Reserve System also exercised
million in March and $683 million in considerable restraint over the banking
April (chart 3). At the peak of the system by holding firm—until April
credit crunch in September 1966, mem- 19—to the 5K percent ceiling that
ber bank borrowings had averaged $766 Regulation Q allows banks to pay for
million. Free reserves, the difference be- large denomination certificate of deposit
tween member bank borrowings and (CD) funds (deposits of $100,000 or
excess reserves, declined steadily from more). With interest rates rising—
a daily average surplus of $270 million especially short term rates—commercial
in November to $38 million in February. banks encountered increasing difficulty
Free reserves then plunged to a negative in attracting and holding CD money.
$315 million daily average in March After increasing nearly $2 billion (14
and to a negative $406 million average percent at an annual rate) from the end
in April. The total reserves of member of March to the end of November last
banks—the base for credit expansion— year, the volume of CD's outstanding
have increased at a 3.4 percent sea- at large commercial banks contracted;
sonally adjusted annual rate from on balance, such deposits declined
November through April. This com- $1.3 billion from the end of November
pares with a 6.6 percent rate of in- until the end of April. It is imporcrease for the year preceding November. tant to note that although the attrition in CD funds reduced the bankThe private money stock increased ing system's ability to make loans and
•at a seasonally adjusted annual rate of investments, these funds are channeled
2.9 percent from November to February
to nonregulated markets, e.g., the combut accelerated to a 7.2 percent rate mercial paper market. Thus, the
from February to April. However, be- restraint on banks from Regulation Q
cause short-run changes in the money may be offset by a larger flow of credit
stock may be the product of special in- through the open market, and the
fluences, the growth in the money stock expansion in total credit may not be
since February may not be an accurate affected.
reflection of the System's attempt to
Nevertheless, when banks come under
tighten credit. For example, the private pressure from Regulation Q, they are
money stock excludes Government de- forced to resort to more costly or less
mand deposits, which exhibit marked attractive sources of funds for servicvolatility over short periods and which ing loan demands. Essentially two
often relate inversely to private demand courses of action are then open: Banks
deposits. If Government demand de- can liquidate some of their holdings of
posits (seasonally adjusted) are added U.S. Government or municipal securito the private money stock, a substan- ties, an alternative that has the impact
tially different picture emerges. Money of depressing bond prices and hence raisstock so viewed increased at a season- ing bond yields; also, a few large banks
can seek a redepositing of Euro-dollars
at head offices by their foreign branches,
a practice that has the effect of shifting
deposits from U.S. banks without
foreign branches to U.S. banks with
foreign branches. The second alternative can also have an undesirable
impact on credit conditions in the
country from which the deposits are
withdrawn.
Over recent months, as the pressures
on the banking system have intensified,
increased use has been made of these
alternative sources of funds. Consequently, in addition to increasing
the discount rate on April 19, the
(Continued on page Id)
CHART 4
Interest Rates and Long-Term Yields
©Since late 1967, money market rates have
risen sharply
® Long-term yields have shown little net change
Percent
INTEREST RATES
,
Prime .Commercial Paper
(4-6 months)
X
YIELDS
FHA Mortgages on
New Homes
1965
1966
1967
1968
Data: FRB, FHA, Moody's & Treas.
U.S. Department of Commerce, Office of Business Economics
68-5-4
SUEVEY OF CURRENT BUSINESS
10
May 1968
These tables contain the revised and updated statistics that have appeared in
previous May issues of the SURVEY.
There have been four major changes in the public and private debt statistics (table
6): The debt of the Federal Government and its agencies has been defined to equal
that shown in the unified Budget introduced earlier this year; a new line has been
set up to show the nonmonetary debts of the Federal Reserve banks, Federal home
loan banks, and Federal land banks; the debt of State and local governments has
been computed as of December 31 instead of June 30; and the borrower distribution of
mortgage debt has been revised (table 7).
The revisions have been carried back to 1962, and work is underway to extend
the revisions to earlier years. The completion of this work later this year will permit
the publication of the revised series back to 1916.
Financial Tables
Table 1.-—Sources and Uses of Funds, Nonfarm Nonfinancial Corporate Business, 1965-67
[Billions of dollars]
Table 4.—Persons' Financial Asset Accumulation and Debt Operations, 1963-67
[BiUions of dollars]
1967
1965
1966
1967
I
II
III
IV
Seasonally adjusted at annual
rates
Line
No.
1 Financial asset
accumulation
2
88.4
Internal sources . _ _ _ 1_ _ _ _ _ _ _
_
Undistributed profits
Corporate inventory valuation adjustment
Capital consumption allowances J
External sources
Stocks
.
Bonds
Mortgages
Bank loans, n.e.c
_
Other loans _
Trade debt
Profits tax liability
Other liabilities
_
__
_
_
_ _
____
_ _ __
_ _ _ _ _
Uses, total
Purchases of physical assets
Nonresidentialfixedinvestment
Residential structures _ _
___
Change in business inventories
.
_
2
Increase in financial assets
_ _
_ _
Liquid assets
Demand deposits and currency.. __ _
Time deposits..
__
U.S. Government securities
_
Open-market paper _ _
__
Consumer credit
Trade credit
.
Other financial assets
_ _
- _
Discrepancy (uses less sources)
92.4
89.4
75.9
96.6
107.5
60.3
24.2
-1.6
37.7
59.9
21.0
-1.2
40.0
58.6
20.5
-.8
38. 9
58.7
19.8
-.7
39.6
59.6
20.0
-.8
40.4
62.6
23.8
-2.3
41.2
32.7
.0
5.4
3.1
9.2
1.3
7.4
1.9
4.3
38.0
1.2
10. 2
2.6
6.9
2.5
7.8
.2
6.6
32.5
2.3
15.1
3.8
5.2
1.7
3.1
-3.8
5.1
30.8
.9
13.3
3.2
5.9
5.2
.5
1.5
.2
17.2
1.9
13.9
3.9
7.0
.7
4.8
-20.8
5.8
37.0
2.8
18.6
3.8
1.4
1.1
1.0
.3
8.1
44.9
3.7
14.5
4.2
6.7
-.4
6.1
3.8
6.3
94.0
88.6
87.5
71.7
91.8
103.5
63.5
52.1
3.7
7.7
__•
98.4
75.2
60.2
2.7
12.3
71.0
62.6
3.9
4.4
73.9
62.1
3.4
8.4
66.4
61.7
3.9
.8
69.3
62.9
4.2
2.3
74.4
63.9
4.3
6.2
9
10
11
23.6
.8
-1.8
3.9
-2.1
.8
1.2
12.8
8.2
18.8
1.0
.7
-.7
-1.2
2.3
1.1
10.8
5.2
17.6
.9
-1.7
4.1
-3.0
1.4
1.0
8.7
6.4
13.6
4.4
-4.1
10.0
-4.9
3.4
1.6
3.8
3.1
5.3
-12.2
-4.1
-.9
-7.1
-.1
1.1
9.7
6.1
22.5
5.7
4.1
3.7
-1.5
—.7
.6
6.5
8.9
29.1
5.5
-2.6
3.7
1.4
3.0
.7
14.7
7.5
12
-1.3
1
55.7
22.1
-1.7
35.3
87.1
Sources, total
-4.3
-3.7
-1.9
-4.2
-4.8
-4.0
1. The figure shown here for "internal sources," "undistributed profits," and "capital consumption allowances" differ
from those shown for "cash flow, net of dividends," "undistributed profits," and "capital consumption allowances" in the
gross corporate product table (p. 6 of this issue of the SURVEY) for the follpwing reasons: (1) these figures include, and the
statistics in the gross corporate product table exclude, branch profits remitted from foreigners, net of corresponding U.S.
remittances to foreigners; and (2) these figures exclude and the gross product figures include, the internal funds of corporations
wiiose major activity is farming.
2. Includes some categories not shown separately.
Source: Board of Governors of the Federal Reserve System.
Table 2. —Personal Investment and Related
Financing, 1963-67
[Billions of dollars]
Line
No.
1963
1 Gross investment
in tangible assets . 39.1
2
3
4
5
6
Nonfarm homes, . 19.0
Noncorporate
business construction,
equipment,
and inventories. 20.1
Borrowing
Nonfarm homes,
gross of amortization
Other debt
1964
39.4
19.6
[Billions of dollars]
1965
42.9
19.4
1966
42.0
19.0
1967
40.3
16.6
1963
19.8
23.5
23.0
23.7
40.5
42.6
47.6
33.7
37.6
27.2
13.3
28.8
13.8
29.3
18.3
26.8
6.9
25.3
12.4
1964
1967
Personal consumption expenditures , total
. 375. 0 401.2 433.1 465. 9
Durables only
__ 53.9 59.2 66.0 70.3
491.7
72.1
68.7
43.9
3
4
5
6
7
8
13
14
15
16
17
18
19
20
21
22
1965
1966
62.4
Consumer borrowing 1
Secured by durables... 39.4
Sources: Securities and Exchange Commission, Federal
Home Loan Bank Board, and U.S. Department of Commerce, Office of Business Economics.
Table 3.—Personal Consumption Expenditures and Related Financial Flows,
1963-67
76.6
49.4
79.8
52.0
1963
23
1964
1965
1966
42.4
48.7
49.9
42.7
57.1
11.7
13.2
13.0
14.5
4.8
5.5
4.7
5.4
2.0
2.1
2.1
2.2
4.9
5.6
6.2
6.9
37.0
36.7
29.7
42.6
31.6
33.4
16.6
41.9
7.0
12.3
11.4
7.3 -1.2
16.0 12.5
9.4
4.7
9.3
20.2
11.5
Life insurance and
pension reserves. 10.7
Private insurance re4.5
serves
Private insured
pension re1.7
serves
Private noninsured pension reserves.. _ _ 4.5
Other financial
assets. . . . .
31.6
Fixed-value
claims
31.3
Currency and
demand
deposits
. 6.8
Time deposits.. 11.6
Savings shares.. 11.7
U.S. Savings
1.2
bonds
.9
.7
.6
Marketable
3.3 13.1
.3 5.4
securities
U.S. Government securi8.0
.7
1.7
3.3
ties
State and local
government
3.2
1.9
1.9
securities. — . 1.8
Corporate and
2.8
1.9
.5
.6
other bonds..
Investment
company
2.1
4.5
2.2
1.6
shares
Other preferred and
common
-4.3 -2.5 -4.4 -5.4
stock
Retirement of
amoritized
debt
1967
.9
.7
-1.2
1.3
4.8
4.6
-8.8
67.5
74.3
81.6
87.8
93.7
Nonfarm homes. . 12.3
Consumer
installment
credit
_ 55.2
13.2
14.1
15.0
15.8
61.1
67.5
72.8
New borrowing 1 _ . _ 102.9 111.3 124.2 113.5
Nonfarm homes
40.5
and business.
Consumer and
security credit.. 62.4
78.0
120.9
42.6
47.6
33.7
37.6
68.7
76.6
79.8
83.3
24
83.3
53.0
1. Gross of payments on installment debt.
Sources: Board of Governors of the Federal Reserve
System and U.S. Department of Commerce, Office of
Business Economics.
Net increase in
debt
35.4
37.0
42.6
25.7
27.2
25
Nonfarm homes
28.2
and business
Consumer and
security credit — 7.2
29.4
33.5
18.7
21.9
7.6
9.1
7.0
5.3
11.7
7.3
17.0
29.9
26
27
Financial asset
accumulation
less increase in
debt
7.0
1. Gross of retirements.
Sources: Securities and Exchange Commission, Federal
Home Loan Bank Board, and Board of Governors of the
Federal Reserve System.
SUEVEY OF CUREENT BUSINESS
May 1968
Table 5.—Persons Saving and Investment and Related Transactions, 1963-67
11
Table 7.—Total Nonfarm Mortgage Debt by Borrowing and Lending Groups, by Type of Property, 1962-67
[Billions of dollars]
[Billions of doUars]
1963
1964
1965
1966
1 Investment in housing and noncorporate business
(table 2, line 1) .
39.1
39.4
42.9
42. 0
2
3
Less-: Associated borrowing (table 2, line 4)
Capital consumption allowances. . _
40.5
20.9
42.6
22.2
47.6
23.4
33.7
24.5
Plus: Financial assets and debt retirement (table 4,
lines 14-18)
._
109.9 123.0 131. 5 130.5
1963
1964
1965
1966
233.4
257.4
281. 3
304.8
323.7
344 4
2.2
50.9
180.3
2.2
56.7
198. 6
2.1
60.4
218.8
2.1
66.0
236. 7
2.0
69.9
251.8
1.9
76.7
265.7
166.5
182.2
197.7
213. 2
223.7
236.1
Savings and loan associations _
Life insurance carriers
Mutual savings banks
Commercial banks
Federal National Mortgage Association
Individuals and others 2
69.8
26.4
22.1
22.1
5.2
20.9
79.1
27.3
24.7
24.9
4.0
22.2
87.2
28.7
27.4
27.2
3.8
23.4
94.2
29.9
30.1
30.4
4.2
24.4
97.4
30.4
31.7
32.8
6. 3
25.1
103.2
30.0
33.5
35.3
8.0
26.2
Multifamily residential and commercial 3.
66.9
75.3
83.6
91.6
100.0
108.3
9.0
17.1
10.1
10.3
.9
19.5
11.9
19.4
11.5
12.2
.8
19.5
14.2
22.1
13.1
14.1
.7
19.4
16.1
25.3
14.5
16.4
.6
18.8
17.0
29.0
15.6
18.4
.8
19.2
18.7
32.0
16.9
20.3
1.0
19.4
37.6
25.7
4
1962
40.3
150.8
Line
No.
5
6
1967
Total nonfarm residential and commercial
mortgages
Less: Consumer borrowing (table 4, line 23) _ _ - .. 62.4
Statistical discrepancy
5.4
68.7
2.7
76.6
-.4
79.8
4.7
26.2
27.2
Federal Government 1*._
Corporate borrowers
Noncorporate borrowers _ _
1-4 family residential mortgage debt
83.3
5.8
7
Equals: Personal saving
29.8
38.7
8
Total sources of funds (lines 2+3+5+7)
_ _: __ 143.6 159.7 174.8 167.8
185.3
9
Total uses of funds less discrepancy (lines 1+4— 6). .143.6 159.7 174.8 167.8
185. 3
19.9
Savings and loan associations..- .
Life Insurance carriers
_ . __
Mutual savings banks
Commercial banks
Federal National Mortgage Association
Individuals and others ,
Sources: Board of Governors of the Federal Reserve System, Securities and Exchange
Commission, and U.S. Department of Commerce, Office of Business Economics.
1967
1. The Federal Government's mortgage obligations are included in Federal Government
and agency debt and the corporate mortgage debt total is included in the total corporate
long-term debt outstanding (table 6).
2. Includes portfolio loans of the Veterans' Administration.
3. The data represent mortgage loans on commercial and residential property, excluding
multifamily residential and commercial property mortgage debt owed by corporations to
other affiliated nonfinancial corporations.
Sources: U.S. Department of Agriculture, Agricultural Research Service; Board of Governors of the Federal Reserve System; Federal Home Loan Bank Board; and U.S. Department of Commerce, Office of Business Economics.
Table 6.—Public and Private Debt, End of Calendar Year, 1962-67
[BiUions of dollars]
Net debt
1962
Total debt..
Total public debt
. ...
1966
1967
1962
1963
1964
1965
1966
1967
1,068.9
1, 151. 8
1,240.2
1,331.7
1,419.1
1,123.6
1,203.6
1,295.4
1,392.9
1,500.1
348.2
363.3
373.7
388.6
410.7
396.1
409.5
426.5
437.6
458.7
489.1
254.8
5.6
75.7
-..
258.7
7.5
82.0
265.6
8.4
89.3
267.9
9.4
96.4
274.0
11.9
102.7
287.7
9.6
113.4
308.0
5.6
82.5
314.1
7.5
88.0
323.5
8.4
94.6
327.0
9.4
101.2
339.6
11.9
107.2
362.0
9.6
117.5
1,604.1
659.5
720.7
788.5
866. 5
943.1
1, 008. 4
727.5
794.1
869.0
955.3
1,041.4
1, 115. 0
348.2
161.2
187.0
103.3
83.7
376.1
174.4
201.7
112.6
89.1
409.9
192.9
217.1
121.1
96.0
452.3
210.3
242. 1
136.5
105. 6
498.3
229.7
268. 6
150.9
117.7
534.4
253,9
280.5
158.3
122.2
416.2
194.9
221.3
124.0
97.4
449.5
210.9
238.7
135.1
103. 5
490. 4
233.4
257.0
145.3
111.7
541.2
254.5
286.6
163.8
122.8
596.7
278.1
318.5
181.2
137.4
641.0
307.5
333.5
190.0
143.5
11.5
9.5
2.0
.5
1.5
11.7
9.5
2.2
.5
1.6
11.4
9.2
2.2
.5
1.7
11.3
9.1
2.2
.5
1.7
11.5
9.1
2.4
.6
1.8
11.4
8.9
2.5
.6
1.9
13.0
10.7
2.3
.6
1.7
13.1
10.7
2.4
.6
1.8
12.9
10.4
2.5
.6
1.9
12.7
10.2
2.5
.6
1.9
13.0
10.2
2.7
.7
2.1
12.8
10.0
2.8
.7
2.1
336.7
151.7
185.0
102.8
82.2
364.4
164.9
199. 5
112.1
87.4
398.5
183.7
214.8
120.6
94.3
441.1
201. 2
239.9
135.9
103.9
486.8
220.6
266:2
150.4
115.9
523.0
245.0
278.1
157.7
120.3
403.2
184.2
219.0
123.4
95.6
436.4
200.2
236.2
134.5
101.7
477.5
223.0
254.5
144.7
109.8
528.4
244.3
284.1
163.2
120.9
583.7
267.9
315.8
180.5
135.3
628.2
297.4
330.7
189.3
141.4
311.3
344.6
378.6
414. 2
444.8
474.0
311.3
344.6
378.6
414.2
444.8
474.0
30.2
15.2
15.0
33.2
16.8
16.4
36.0
18.9
17.1
39.3
21.2
18.1
42.0
23.3
18.7
45.7
25.1
20.6
30. 2
15.2
15.0
33.2
16.8
16.4
36.0
18.9
17.1
39.3
21.2
18.1
42.0
23.3
18.7
45.7
25.1
20.6
.....
281. 1
180.3
161.9
18.4
311.4
198.6
177.1
21. 5
342.6
218. 8
193.1
25.7
374.9
236.7
208.7
28.0
402.8
251.8
221.0
30.8
428.3
265.7
232.2
33.5
281.1
180.3
161.9
18.4
311. 4
198. 6
177. 1
21.5
342.6
218.8
193. 1
25.7
374. 9
236.7
208.7
28.0
402.8
251.8
221.0
30.8
428.3
265.7
232.2
33.5
. . . .
...^.^ .„...._,._..__..__,.
100.8
19.3
18.3
63.2
112.8
21.5
20.8
70.5
123.8
23.9
21.5
78.4
138.2
27.6
22.7
87.9
151. 0
32.0
24.2
94.8
162.6
34.4
29.0
99.2
100.8
19.3
18.3
63.2
112.8
21.5
20.8
70.5
123.8
23.9
21.5
78.4
138. 2
27.6
22.7
87.9
151.0
32.0
24.2
94.8
162.6
34.4
29.0
99.2
Railway corporations
Long-term3
.
Short-term 3
Notes and accounts payables
Other. . ...
____
Nonrailway corporations
_____._....
Long-term 33
Short-term . _
_ _ _ ._
Notes and accounts payable
Other.....
.
...
.
Total individual and noncorporate debt
Farm, total <
Farm mortgage ... _
Farm production
_:
Nonfarm, total
Mortgage
1-4 family residential
Multifamily residential and commercial
.___..
1. Net Federal Government debt is the outstanding debt held by the public, as defined
in the Budget of the United States Government, Fiscal Year 1969. Gross Federal Government debt equals net Federal Government debt plus intragovernmental holdings.
2. Comprises the debts of the Federal Reserve Banks, Federal Home Loan Banks, and
Federal Land Banks, other than currency and deposits.
3. Long-term debt is defined as having a maturity of 1 year or more; short-term debt
as having a maturity of less than 1 year.
4. Comprises debt of farmers and farm cooperatives to institutional lenders and Federal
1965
995. 6
Total, all corporations
. .. '. .. . .
Long-term 3
Short-term 3
.
__
Notes and accounts payable
Other
Other nonfarm 5
Commercial
^. ,^
Financial
Consumer
1964
33S.1
_. _ _
Federal Government and 2
agency 1
Federal financial agencies
State and local governments
Total private debt ..
1963
Gross debt
Government lending agencies, and farm mortgage debt owed to individuals and others;
farmers' financial and consumer debt is included under the "nonfarm" category.
5. Comprises debt incurred for commercial (nonfarm), financial, and consumer purposes
including debt owed by farmers for financial and consumer purposes.
SOURCES: U.S. Department of the Treasury; Board of Governors of the Federal Reserve
I
System; Federal Home Loan Bank Board; U.S. Department of Commerce, Office of B usiness
Economics.
Plant and Equipment Expenditures by Foreign Affiliates of U.S. Firms-Revised
Estimates for 1967 and 1968
THIS report gives the results of a survey of anticipated plant and equipment
expenditures by foreign affiliates of
U.S. firms. The survey, which was conducted in December of 1967, is the latest
in the series of semiannual reviews of
such expenditures by the Office of Business Economics. The estimates are based
on reports received from about 500
major U.S. corporations with foreign
affiliates. The sample has been adjusted
to reflect foreign capital expenditures
by all U.S. companies.
Estimates for a given year are obtained at 6-month intervals. Each of the
five successive reports is based on a different combination of various types of
basic data available to corporate offi-
Plant and equipment expenditures of
foreign affiliates of U.S. corporations are
expected to rise 6 percent in 1968, after a
16 percent increase in 1966 and a (preliminary) 9 percent advance in 1967. The
latest survey results for 1967 and 1968
represent a scaling down of the projections
reported 6 months ago.
cials, such as appropriations, contracts
placed, obligations incurred, and actual
expenditures. The year-to-year changes
noted below are computed on the basis
of data obtained at comparable periods
to ensure that the comparisons reflect
company reports based on similar mixtures of information. Further explanation of the reporting procedure may be
CHART 5
Expenditures for Plant and Equipment by Foreign Affiliates of U.S. Companies
Billion $
20
(Ratio scale)
fiY INDUSTRY
10
Total
8
6
.' r Manufacturing
Petroleum
>%•'-•.
Other industries
i^
>/ Mtni and Smelting
Mining
i
1957
60
62
i
^ .2
64
66
68
Note.-1967 represents "D"' estimate. 1968 obtained by multiplying 1967 by
change in "B" estimates, 1967-68. See note to table 1.
U.S. Department of Commerce, Office of Business Economics
60
62
64
66
68
found in the March 1966 and May 1967
issues of the SURVEY or CURRENT
BUSINESS.
Current estimates
Plant and equipment expenditures of
foreign affiliates of U.S. corporations
are now estimated to have been about
9 percent higher in 1967 than in 1966.
This was less than the 16 percent increase in 1966 and the 21 percent increase in 1965. The rate of expansion
has been projected to decline further—
to 6 percent—in 1968.
The most recent survey also indicates
a slower growth in foreign plant and
equipment expenditures than was reported 6 months earlier. At that time,
an increase of 11 percent was projected
for 1967 and one of 7.5 percent for 1968.
The slowdown in the rate of increase
in plant and equipment expenditures of
the foreign affiliates has not affected all
industries a;nd areas to the same .extent
(chart 5).
Industry patterns
After a rise of about 25 percent in
1966, investments in the mining industry are estimated to have increased
about 20 percent in 1967, when they
accounted for nearly 10 percent of plant
and equipment expenditures by all
foreign affiliates of U.S. corporations.
Expenditures in 1968 are expected to
show another large rise of 20 percent.
Plant and equipment expenditures in
the petroleum industry rose 11 percent
in 1966 and about 18 percent in 1967.
Last year, they accounted for one-third
of expenditures by all foreign affiliates.
The most recent reports indicate that
expansion in 1968 will return to the
1966 rate of advance; a rise of this
magnitude would still be well above the
average for all industries. If the latest
projections materialize, petroleum will
account for three-fifths of the total increase from 1967 to 1968.
SUKVEY OF CUERENT BUSINESS
May 1968
13
Table 1.—Estimates of Plant and Equipment Expenditures of Foreign Affiliates of U.S. Companies, by Area and IndustrySummary of Surveysl
[Millions of dollars]
1966
19 65
A
All areas, total
Mining and smelting
Petroleum
M anufacturing
Other industries
C
D
E
8,805
637
2,689
4,769
710
9,046
764
2,727
4771
784
8,694
746
2,629
4,531
788
8,687
789
2,524
4,598
777
9,122 10, 081
637
839
2,937 3,334
4,775 5,066
842
773
A
B
C
D
A
10, 072
917
3,316
5,014
825
9, 496
899
3,097
4,703
798
9,797
701
3,491
4,822
783
10,718
1,003
3,696
5,175
B
7,346
7,055
7,464
7,305
2,005
2,665
2, 350
3 810
2,367
3,595
2,270
3,891
2,330
3,802
1,817
1,847
1,678
2,175
278
552
1 143
202
2,263
266
609
1 156
231
2,357
297
649
1,174
237
2,081
188
570
1,132
191
2,273
274
600
1,163
237
2,360
332
650
1,122
256
2,227
306
625
1,064
233
2,053
240
616
963
234
2,229
173
358
963
184
2,076
244
426
1 199
207
405
601
1,396
..
191
360
657
188
568
617
1,817
231
377
1 022
187
484
610
183
490
957
187
629
674
212
503
944
188
482
691
845
375
670
933
251
_
..
____
_
_ _ . . ... .
...
Other areas,
total
_
Mining and smelting
Petroleum.
M anufacturing. __
Other industries
1,097
156
368
420
152
995
150
313
391
140
1, 073
932
110
334
336
153
1 140
176
378
443
143
1,238
214
336
510
179
1,105
211
282
448
165
1,092
229
268
438
156
1 250
193
391
505
161
1,435
288
366
607
174
1,428
285
380
574
189
1,335
282
* 368
507
179
1,541
275
475
624
167
1,847
160
307
448
158
1,435
1,410
1,003
1,042
406
1,100
104
1,959
2
534
1,332
92
1,993
2
474
1,428
89
1,928
2
476
1,364
86
1,853 2,024
' 1
' 3
434
482
1 330 1,449
86
93
2,245
* 4
623
1,529
89
2,216
' 2
582
1,536
95
2,077
' 3
512
1,470
92
2,193
' 3
565
1,528
97
2,235
338
2
306
1, 611
,011
376
993
65
i
1,418
278
692
64
1,010
. .
860
124
313
266
157
1,035
_
Europe:
Common Market, total
Mining and smelting
Petroleum
Manufacturing . _
Other industries
Other Europe,
total
Mining and smelting...-.
Petroleum.
Manufacturing.
Other industries
B
A
19 68
5,676
.-
Canada, total
Mining and smelting
Petroleum
__._
Manufacturing
Other industries
Latin America, total
Mining and smelting
Petroleum
Manufacturing
Other industries
E
D
C
19 67
1,224
'• 6
1,110
1,252
' 2
1,282
,a*.
1,567
' 8
399
981
184
1,423
6
397
840
179
1,440
*' 4
344
930
163
1, 672
2
457
1,018
194
1,768
8
583
977
200
1,760
'"4
558
1,026
172
1,649
4
542
935
168
1,625
'
0
1,713
473
994
152
1, 012
2,073
267
966
710
131
1,976
261
865
722
128
1,945
257
829
725
135
2,094
253
1 036
671
135
2,360
266
1 161
790
142
2,309
295
1,145
756
114
2,208
305
1 050
727
127
2,385
2,695
3
298
596
113
1,375
____•
86
756
454
80
69
352
744
122
3
335
657
115
1,774
1,722
174
877
631
91
147
890
586
98
68
297
835
118
371
755
150
1,586
4
438
991
153
1,874
1,802
192
862
648
100
2,044
212
912
804
116
252
857
622
143
NOTE.—Detail may not add to totals because of rounding.
1. A. Estimated in June of previous year.
B. Estimated in December of previous year.
Source: U.S. Department of Commerce, Office of Business Economics.
177
1 362
713
134
391
491
745
221
2
523
1,596
113
6
538
157
229
1 474
889
104
C. Estimated in June of current year.
D. Estimated in December of current year.
E. Actual—reported in June of following year.
Table 2.— Estimates of Plant and Equipment Expenditures of Foreign Manufacturing Affiliates of U.S. Companies, by Area and Major
Commodity—Summary of Surveys 1
[Millions of dollars]
1965
A
3 595
3 891
3 802
1,171
1,102
1,296
1,067
1,005
Europe:
Common Market, total. . _
Chemicals
_
Machinery.
Transportation equipment
Other manufacturing
297-178 O - 68 - 2
B
C
D
4,822
1364
1,174
5,175
1,472
1, 216
1,577
1,361
1,527
1,50 }
1,444
1,465
1,581
1 143
1 156
1 174
1 132
1 163
.
1 12.
23 1
1 064
19 I
25 1
43 }
194
192
247
432
963
254
153
176
380
933
205
164
223
341
1 199
266
70
38
69
89
420
140
64
54
163
391
127
49
60
156
448
151
55
73
168
336
101
41
69
125
443
150
54
81
158
510
187
53
108
162
448
166
46
75
160
692
70
268
217
137
993
153
342
314
184
1,003
1, 042
1,100
1,332
1,428
1,364
596
66
116
220
194
_
744
142
161
225
217
657
129
155
175
198
835
174
181
180
300
755
140
169
256
190
991
229
198
252
981
221
230
253
278
454
104
71
110
168
631
146
129
136
221
586
130
110
121
226
622
165
120
118
219
648
114
127
142
264
804
191
137
126
350
710
195
136
89
289
__
_
_ _
___
___ __
_
__
_-_
165
382
283
174
147
389
278
228
180
416
362
143
B
5,01^| 4,703
1,285
1,39 3
1,109
1,15 *
963
300
142
238
283
__
A
5,066
1,387
1,163
944
225
114
224
381
__
D
4 775
1,314
1,118
957
264
118
226
349
835
895
C
4 598
1,045
1,010
290
116
229
387
863
859
873
B
4 531
1 062
1,009
1 018
1,441
1,022
814
815
864
A
4 771
1, 162
1,029
1 119
1,461
657
130
103
193
231
870
812
957
E
4 769
1.092
1,006
1 265
1,406
440
597
809
819
NOTE.—Detail may not add to totals because of rounding.
1. A. Estimated in June of previous year.
B. Estimated in December of previous year.
Source: U.S. Department of Commerce, Office of Business Economics.
A
___
Latin America, total
Chemicals
_ _ _ _
Machinery
Transportation equipment
Other manulacturing
Other areas, total
Chemicals
Machinery.
Transportation equipment
Other manufacturing
3 810
E
_
__ _
Canada, total
Chemicals
Machinery
Transportation equipment
Other manufacturing-
Other Europe, total
Chemicals
Machinery.
Transportation equipment
Other manufacturing
D
2,665
All areas, total
Chemicals
- ~
Machinery
Transportation equipment
Other manufacturing _
C
19 68
19 67
1966
314
170
283
432
208
448
463
214
260
148
275
460
299
462
394
273
230
161
271
494
966
221
186
255
513
982
240
155
270
468
989
213
174
278
497
94 }
865
819
906
505
170
54
118
163
607
213
61
120
213
57 I
16 fj
6I
10 3
23'1
507
160
61
86
200
624
213
66
105
241
745
237
76
130
302
1,330
1,449
1,529
1,53<\
1,470
1,528
1,596
840
163
212
205
260
930
187
198
191
355
1,018
977
239
231
219
288
1,02(\
935
206
198
179
353
994
226
207
202
359
1,012
264
219
240
295
722
234
131
78
279
725
224
132
75
294
671
259
137
99
175
790
313
132
111
234
75(\
31()
125t
727
305
122
102
198
713
326
129
91
167
889
428
137
123
201
269
459
389
248
438
143
53
72
171
271
441
373
245
381
553
255
261
C. Estimated in June of current year.
D. Estimated in December of current year.
E. Actual—reported in June of following year.
409
565
261
295
43
571
251\
28]
255>
20'r
221$
34!i
IU >
20$i
421
536
252
262
345
619
245
319
371
626
256
345
232
215
174
392
SUEVEY OF CUEKENT BUSINESS
14
percent of total expenditures, Latin
America 14 percent, Common Market
countries 22 percent, other European
countries 17 percent, and all other countries 23 percent.
In Latin America, the growth of these
investment expenditures accelerated
sharply, from only 2 percent in 1966 to
over 20 percent in 1967. A further rise,
to 29 percent, has been projected for
1968. Plant and equipment expenditures
in Canada, which stabilized in 1967
after a rapid rise the year before, are
expected to continue unchanged in 1968.
Expenditures in Common Market
Geographic patterns
countries rose only 8 percent in 1967,
An area breakdown indicates that in considerably less than the 31 percent rise
1967 Canada accounted for about 23 realized in 1966. The increase in other
Manufacturing affiliates increased
their expenditures only 4 percent in
1967 after a rise of 18 percent in 1966.
They accounted for about half of plant
and equipment expenditures of all foreign affiliates in 1967. For 1968, an increase of 2 percent has been projected.
Among the mo're important industries,
investments in the chemical industry
are rising at a faster rate than the average for all manufacturing industries,
but investments in the transportation
equipment industry are expected to
decline.
May 1968
European countries in 1967 was 16 percent, about the same as in 1966. Estimates for 1968 suggest that expenditures in the Common Market countries,
as well as in other European countries,
will not exceed those in 1967, and may
be slightly smaller.
In other countries, where most of the
investments are made by petroleumproducing affiliates, the growth rate for
expenditures is projected to rise from 12
percent in 1967 to about 14 percent in
1968.
Relation to capital outflows
The projections for 1968 reflect contracts for plant and equipment placed
late last year plus appropriations for
Table 3.—Estimates of Plant and Equipment Expenditures of Foreign Affiliates of U.S. Companies, by Major Country and Selected
Industry—Summary of Surveys l
[Millions of dollars]
19 35
A
D
C
19(57
1966
E
B
A
D
C
E
19(38
B
A
C
D
A
B
Manufacturing:
All areas, total
Africa, total...
Republic of South Africa
Other countries " ,. '
Asia, total
Middle East
Far East
India...
Japan.
Other countries
_
_._
.__
Oceania, total
Australia
_:
Other countries
.__"
••_
Petroleum:
____.__.
_
_
_
Europe, total
Belgium and Luxembourg
France
Germany
Italy
Netherlands..
_
United Kingdom
Other countries
Africa, total
Asia, total
Middle East
Far East
._
__ _
_ _
.
_
. •
Oceania, total
International shipping. _ ;
NOTE.—Detail may not add to totals because of rounding.
1. A. Estimated in June of previous year.
B. Estimated in December of previous year.
C. Estimated in June of current year.
3 802
4, 769
4,771
4,531
4 598
4,775
5,066
5, 014
4, 703
4, 822
5,175
420
100
64
123
133
944
448
101
72
141
134
963
336
85
70
70
111
1 199
1,143
1 156
1 174
1 132
1, 163
1 122
1, 064
507
98
149
123
137
963
624
142
174
129
179
933
745
130
220
208
187
1,660
89
231
490
102
91
509
148
1,876
1 855
*118
2,323
2 204
2,260
2,467
2 506
2 562
2 405
'217
2,521
373
518
160
202
726
209
217
391
589
179
152
761
232
2,608
225
535
110
113
651
103
185
294
627
118
108
786
205
2,409
238
478
92
73
607
137
91
48
43
86
47
39
88
45
43
91
36
55
106
44
62
89
27
62
83
28
55
94
39
55
58
32
26
80
50
30
90
58
22
66
40
26
62
46
16
70
55
15
188
5
183
25
105
53
266
9
257
48
160
49
256
9
247
43
149
55
292
11
281
67
168
46
219
24
195
41
123
31
338
24
314
84
158
72
311
31
280
84
144
52
355
30
325
131
144
50
337
23
314
101
153
60
378
111
267
82
126
59
430
115
315
77
165
73
408
64
344
45
204
95
419
60
359
44
187
128
397
104
293
46
184
63
510
116
394
67
238
89
274
263
10
245
233
11
242
231
11
339
327
12
359
343
16
309
295
15
285
269
15
294
278
15
235
230
5
280
274
6
258
252
6
241
234
7
254
244
11
309
300
10
2 350
2,367
2 270
2 330
2 689
2 727
2 629
2 524
2 937
3, 334
3, 316
3,097
3,491
3, 696
360
313
175
44
94
377
368
172
59
137
490
313
134
52
126
503
307
130
61
116
358
334
166
52
116
426
378
175
64
139
552
336
150
76
110
609
282
128
55
99
649
268
101
58
109
570
391
169
70
152
600
366
147
80
139
650
380
150
85
145
625
368
126
87
155
616
475
224
88
163
670
491
235
88
168
576
21
60
80
82
35
175
123
728
30
105
124
82
35
214
138
673
23
88
106
84
37
185
150
603
26
75
97
75
33
177
120
776
20
99
98
78
112
235
136
972
26
125
221
99
64
250
188
873
43
127
161
99
44
220
179
873
38
123
163
112
40
202
195
778
40
96
172
87
39
163
181
940
46
90
183
106
56
250
209
1,206
1 140
1, 054
1,038
1 061
242
433
170
263
287
441
203
238
271
464
235
229
284
433
233
200
350
377
146
231
322
482
241
241
349
500
246
254
287
460
227
232
289
423
206
216
442
462
249
214
469
511
270
241
450
548
263
285
427
480
195
285
544
521
177
344
616
581
206
375
61
20
83
66
75
80
74
66
76
60
83
26
72
45
78
41
69
49
70
61
107
74
72
76
74
69
131
165
150
127
113
243
508
110
68
657
177
443
106
88
120
129
510
114
121
136
149
222
286
638
144
138
758
223
448
95
100
116
137
191
273
622
128
150
644
196
438
91
93
120
134
186
287
581
125
151
698
232
505
107
157
107
134
156
345
657
162
129
801
217
607
126
176
130
175
205
339
643
162
180
746
231
574
108
155
142
169
216
375
546
180
220
810
215
178
453
577
220
169
790
221
'
All areas, total
Canada
Latin America, total
Venezuela
_
Other Western Hemisphere
Other countries
3,891
957
391
97
55
104
135
168
159
9
-----
3,595
1, 022
2 005
Europe, total - _ _ _ _
Belgium and Luxembourg .
France
Germany
Italy
Netherlands
United Kingdom
__
Other countries
3,810
97
45
52
-
_ " _ ' _ _
_ ------
657
266
64
54
59
89
185
335
93
43
512
84
_._
2,665
1 288 1,737
112
' 36
- -
Canada
Latin America, total
Argentina
Brazil
Mexico
_ _ _ _ _ _
Other countries
42
130
250
101
100
348
235
55
72
280
102
72
332
226
55
54
227
93
83
315
227
D. Estimated in December of current year.
E. Actual—reported in June of following year.
Source: U.S. Department of Commerce, Office of Business Economics.
34
103
205
119
101
290
183
33
85
154
111
140
334
204
SURVEY OF CUEEENT BUSINESS
May 1968
outlays expected at that time to be capital requirements. On the otlier
made this year. Thus, the projections hand, plant and equipment expendido not yet reflect the ceilings on capital tures are also financed from depreciaoutflows and reinvested earnings re- tion reserves of the foreign affiliates
quired under the regulations announced and from funds raised abroad. In reon January 1,1968. However, they pre- cent years, U.S. corporations have obsumably do reflect the ceilings on capi- tained increasing amounts of long term
tal outflows to, and reinvested earnings capital from foreign sources. In the
in, affiliates in developed countries that first 3 months of this year, new issues
had been set for the combined 1967-68 of bonds in foreign markets have inperiod under the voluntary program creased sharply.
Therefore, the slowing down in the
.announced in October 1967. These ceilings were lower than those set a year rate of increase in foreign plant and
earlier for the 1966-67 period.
equipment expenditures of U.S. corPlant and equipment expenditures porations may not be due to restrictions
by foreign affiliates do not necessarily on capital outflows. It may reflect a
depend on capital outflows from the slower rate of growth in economic
United States and reinvested earnings, activity abroad than had been experinor is there always a close relationship
enced in the first half of the 1960's. It
between these sources of funds and
plant and equipment expenditures. may also reflect a shift from the larger
These sources of funds are also used to investments required in earlier years to
finance other capital expenditures, in- build up productive facilities to the
cluding purchases of equity interests in smaller outlays now required to meet
existing enterprises, as well as working the normal growth in foreign demand.
Monetary, Policy
(Continued from page 6)
monetary authorities followed market
developments and raised the ceiling
applicable to large denomination negotiable certificates of deposit. The change
scaled the maximum rates payable
according to maturity. Banks could
still only pay 5% percent for maturities
under 59 days, but they could pay
from 5% to. 6% percent for maturities
ranging up to and beyond 180 days.
No change was made in the ceilings
on smaller consumer-type CD's or on
any other class of time and saving
deposits. The decision to be selective
with the increase in Regulation Q no
doubt reflected the attempt to minimize the impact that a change here
would have on the competition for
deposits between the savings intermediaries. For the most part, the savings and loan associations and the
mutual saving banks do not compete
with commercial banks for the large
type CD deposits.
15
advance. This contrasts sharply with
the composition of the credit expansion
last year, when monetary policy was
stimulative and when weak loan demand
and the attempt to replenish liquidity
caused the growth in bank credit to
locus on the investment component.
Loans to business, which accelerated
in December and tapered off in January and February, began to pick up in
late March and then surged ahead in
April. Business loans accounted for the
major part of last month's increase in
total credit.
Total commercial bank investments
have on balance shown little change
since last November. However, within
the investment component, banks have
liquidated some $2.6 billion of thenholdings of U.S. Government securities
and added $3.1 billion to their holdings
of municipal and Federal Government
agency securities.
Financing costs
The rise in short term interest rates,
which began in mid-1967, accelerated
with the advent of credit tightening
Commercial bank credit
in late November and December. Most
With the monetary authorities tight- short term rates eased somewhat in
ening their grip on the commercial the latter part of January and in Febbanking system, the growth in bank ruary, but then, mirroring the stepcredit has slowed appreciably. During up in monetary restraint, the sizable
the 5 months from November through amount of Treasury financing, and the
April, loans and investments at com- surge in business loans, they turned
mercial banks increased nearly $10% sharply higher in March and again in
billion, seasonally adjusted. This repre- April (chart 4). By the end of April,
sents a 7.2 percent annual rate of growth short term rates were very .close to
as compared with the 11.7 percent rate of or above their recent record highs of
the preceding 12 months and an average late 1966.
of 9.7 percent from 1962 through 1965,
The pattern of financing costs in
Moreover, most of this increase was long term markets has been considerconcentrated in January and February ably different from the short term patwhen bank credit expansion averaged tern. After rising steadily from mid$3.5 billion per month. In large part, winter through the end of 1967, long
this advance was associated with Treas- term interest rates have shown little
ury financing operations. Growth in net change so far in 1968. A notable
total loans and investments has since exception to the general pattern was
contracted, averaging about $1 billion, the secondary market yield on FHAseasonally adjusted, in March and insured new home mortgages. This
yield rose from 6.77 percent in NoApril.
vember to a new high of 6.94 percent
Although the composition of bank in April. It should be noted that trends
credit expansion has varied since last in mortgage markets have usually
fall, the loan component has accounted lagged those in other long term markets
for nearly all ($9.8 billion) of the net by several months.
By ALLAN H. YOUNG
Alternative Estimates of Corporate Depreciation
and Profits: Part II
AHIS is the second part of a study of
corporate depreciation and profits. The
main purpose of the study is to analyze
the long term trend in profits after allowing for two factors that make it
difficult to interpret trends in profits as
they appear in the national income and
product accounts. The first of these
factors embraces the changes in depreciation practices brought about by the
liberalization of depreciation laws and
regulations since the start of World
War II. The second relates to the valuation of depreciation—the fact that
depreciation as reported in the accounts
reflects historical costs, which are
neither comparable over time nor comparable to the costs at which the other
components of the GNT are calculated
in any given year.
The first article, presented as part I
in the April 1968 SURVEY, showed how
corporate depreciation was affected by
the four major changes in depreciation
practices since the start of World
War II, These changes were the 60month amortization of defense facilities first permitted during World War
II, the introduction of accelerated depreciation methods in 1954, the 1962
Guidelines, and the gradual shortening
in tax service lives in the 10 to 20 years
prior to 1962.
This article presents for the period
1929-66 several alternative consistent
measures of corporate depreciation unaffected by changes in depreciation laws
and regulations. The alternatives, calculated in both historical and current
costs, are substituted for corporate capital consumption allowances in the
national accounts to obtain alternative
estimates of profits. The profits alternatives are compared with published
profits, and for each, the ratios of
16
The share of profits in corporate product as measured in the national income
accounts has declined since the early
postwar period. However, this comparison suffers from the fact that many
changes in depreciation practices have
occurred since the start of World War
II and the fact that depreciation is
valued in terms of historical costs. This
article, the second of a two-part study,
provides several alternative estimates of
profits based on depreciation methods
and service lives that are consistent
over time and in terms of both historical
cost and current price depreciation. As
a share of corporate product, all of the
alternatives show smaller declines than
the national income measure from the
early postwar years to 1965-66. Part I
of the study appeared in the April 1968
SURVEY.
depreciation rates to permit agreement
on a single measure of depreciation.
Consequently, this article presents a
range of alternatives based on different
assumptions as to actual service lives
and depreciation formulas. By examining them, one can form a judgment as
to the range in which actual depreciation—and profits—probably fall and
the effect of the various factors for
which assumptions were necessary.
The coverage of the estimates in this
article differs somewhat from part I.
The estimates of depreciation and
profits presented here are for nonfinancial corporations less depreciation and
profits arising from their ownership of
Table 1.—Relationships Between Corporate
Depreciation Estimates, 1966
[Billions of dollars]
Line
profits to gross corporate product and
to income originating in corporations
are computed over time. This part of
the study extends and revises a similar
analysis that appeared in the October
1963
Item
IRS corporate depreciation 1 _._
Plus:
SURVEY.1
Aside from valuation problems, the
reason that the article provides several
alternative measures of depreciation
(and profits) is that depreciation as reported to Internal Revenue Service
(IKS)—even after adjustments for
changes in practices—does not necessarily correspond to actual depreciation. Ideally, the national income
accounts, which basically reflect tax
depreciation, should reflect actual depreciation, but the problems involved
in obtaining actual depreciation are
difficult. We do not have sufficient information about actual service lives and
1. Murray Brown, "Depreciation and Corporate
Profits," SURVEY OF CURRENT BUSINESS, October
1963.
Accidental damage to fixed
capital.
Capital consumption allowances
for oil and gas well drilling and
exploration charged to current
expense.
Capital consumption allowances
for passenger cars of employees
reimbursed for travel expenses.
Amount
236.2
.6
1.5
.7
Equals: Corporate capital consumption
allowances in national income
accounts.
39.0
Minus: Line 3
Line 4
..___.._
_
Capital consumption allowances
for corporate farms.
Capital consumption allowances
for residential properties
owned by corporations.
1.5
.7
.2
Equals: NIA-IRS corporate depreciation.
Plus:
Line 3....
Line 4___
Line 8...
Minus: Capital consumption allowances
for nonresidential properties
owned by financial corporations.
15
Equals: Nonfinancial corporate capital
consumption allowances less
capital consumption allowances for residential properties
(NIA).
1.0
35.6
1.5
.7
.2
1.1
37.0
1. Excludes depreciation reported by foreign branches of
U.S. corporations.
2. Preliminary estimate prepared by OBE.
May 1968
17
SURVEY OF CUREENT BUSINESS
residential properties. The associated the postwar period than the computed From 1961 to 1966, profits showed a
measures of corporate output and in- alternatives based on consistent depre- strong expansion. The alternative
come are similarly defined. Correspond- ciation methods and service lives. In measures show the same cyclical pating measures were computed for all 1966, the alternatives were 3^ to 5*4 tern with a stronger upward trend in
corporations (including financial cor- times their 1948 levels while the NIA the postwar period because of the more
porations) and are available upon re- series was 5% times its 1948 value. The gradual rise in the alternative depreciaquest. Table 1 is appendix table C from NIA series also shows more increase tion measures.
According to NIA definitions, profits
part I, to which certain additions have from 1929 to 1966 than the computed
as a share of corporate product declined
alternatives.
been made (lines 11-15). These recThe alternative measures of profits during the 1950's, a development that
oncile the concept of depreciation used
in part I (line 10) with that used in presented in this article somewhat mod- has commonly been referred to as the
part II (line 15). The latter concept ify the observed movements in profits "profits squeeze." This share has reof depreciation will ordinarily be before taxes (plus IVA) as shown in covered since the early 1960's, but in
referred to in this article as NIA de- the national accounts after World War 1965-66 it was still far below the late
1940's and early 1950's. The alternative
preciation; the related profits measure II but do not change their direction.
According to NIA definitions, the measures also show the "profits
will be referred to as NIA profits.
The data and methods used in the level of before-tax profits rose slowly squeeze," but to a lesser degree than the
study were discussed in the appendix in during the 1950's with cyclical declines NIA series. They all stood closer in
part I. Briefly, depreciation was com- following peaks in 1951,1955, and 1959. 1965-66 to the shares of corporate prodputed with the perpetual inventory
method from data on corporate investCHART 6
ment flows. This procedure required assumptions as to service lives of assets Changes in Ratio of Profits to Output for Nonfinancial Corporations:
and depreciation formulas. It also re- NIA vs. Alternatives
quired that the corporate share of investment be derived from OBE's his- © From the early postwar (1948-52) to 1965-66, all of the ratios
show decreases, but the NIA ratio declines most
torical series on gross private domestic
© From 1929 to 1965-66, the NIA ratio declines but the alternatives increase
investment.
Major findings (part II)
As background to part II, some of the
results presented in part I bear repeating. It was found in part I that the effects of the changes in depreciation
practices have been substantial. Corporations have been able to recover the
costs of their fixed investments more
rapidly; with a rising investment
stream, the more rapid recovery has
yielded substantially larger depreciation allowances than would have arisen
from the depreciation practices in effect
before World War II. In the period
1941-66, corporate depreciation allowances are estimated to have totaled from
$60 billion to $85 billion more than they
would have with pre-World War II
practices. During World War II and
again since the midfifties, about onefourth of corporate depreciation
charges each year have been due to the
changes in depreciation practices.
This article shows that as a result of
the changes in depreciation practices,
NIA corporate capital consumption allowances have increased more rapidly in
-4
1948-52 to 1965-66
Change in Percentage Points
-3
-2
-1
1929 to 1965-66
Change in Percentage Points
0
1
2
3
0
HISTORICAL COST VALUATION
Straight Line Depreciation:
Bulletin F Service Lives:
.85F
.75F
F to J5F
Double-Declining Balance Depreciation:
.85F
F to 75F
CURRENT PRICE VALUATION
Straight Line Depreciation:
.85F
F to J5F
Double-Declining Balance Depreciation:
.85F
F to .75F
NATIONAL INCOME ACCOUNTS (NIA)
See notes on table 2.
U.S. Department of Commerce, Office of Business Economics
4
18
uct of the late 1940's and early 1950's
than did the NIA measure.2
The 1965-66 share of before-tax corporate profits in corporate product was
slightly less than in 1929, according to
NIA definitions, but larger according
to the alternative measures. From the
partial information that is available it
appears that about the same results
would be obtained if 1926, the previous
peak, were substitued for 1929. If 196566 is compared with the average for the
second half of the 1920's, it appears that
the NIA profits share in 1965-66 would
be slightly above the earlier period and
that the alternative measures would
show stronger increases than when 1929
is used.
The standings of the profits share according to NIA definitions and the
alternative definitions are summarized
in table 2. Shown in the table are the
figures for 1929 and averages for four
post-World War II periods—1948-52,
1953-57, 1958-62, and 1965-66. The
postwar periods were selected to provide useful analytical groupings of the
annual figures. The first period includes
the postwar high in the profits share
that occurred in 1950 and the adjacent
years, which also were years of high
profit shares. After declining sharply
in 1953 the profits share remained
fairly stable in the period 1953-57. The
period 1958-62 encompasses the postwar low in 1958 and the subsequent
years in which the profits share remained well below earlier levels. Chart
6 compares the changes in the profits
shares from 1948-52 to 1965-66 and
from 1929 to 1965-66 for the NIA version of profits and a representative
selection of alternatives.
SURVEY OF CURRENT BUSINESS
May 1968
Alternative Measures of Depredation
THIS section briefly reviews the considerations underlying the selection of
the various depreciation measures presented in the article. The assumptions
as to actual service lives, the selection
of depreciation formulas, and the revaluation of depreciation to current
prices are discussed in turn.3
Service lives
There is little direct evidence as to
actual service lives. They have often
been assumed to be equal to the service
lives in the 1942 edition of Bulletin F.
Another view is that actual service lives
have been shorter than Bulletin F lives,
at least in the period after World War
II. The rationale for this view is the fact
that tax service lives were substantially
shorter than Bulletin F in the 1950's,
and that IES generally required business to maintain an approximate equality between tax and actual service lives.
Some evidence suggests that actual
lives are longer than tax lives. Corporations have carried substantial amounts
of fully depreciated property on their
books* Recent evidence of a possible discrepancy between actual and tax lives is
contained in the National Industrial
Conference Board study of the reserve
ratio test, which is discussed in the appendix in part I.
For the present study, alternative
service lives based on four assumptions
were used. Three of the assumptions
were that actual service lives have been
constant at Bulletin .F, at 85 percent of
Bulletin F (abbreviated .85F), and at
75 percent of Bulletin F (abbreviated
.75F). The fourth assumption is that
actual service lives were at 100 percent
of Bulletin F lives through 1940 then
gradually declined linearly to 75 percent of Bulletin F in 1960 and thereafter.
The Bulletin F lives were included
in the present study because they have
been used in many other studies. Their
use since World War II implies a large
difference between actual and tax service lives—probably larger than can be
accounted for by the existence of fully
depreciated assets. The service lives
that are .85F were considered to be
Table 2.—Profits Before Taxes 1 as Percent of Gross Product of Nonfinancial Corporations;
National Income Accounts Definition Compared With Profits Based on Alternative
Methods of Depreciation, Selected Periods
Differences
Averages
1948-52
(2)
1953-57
(3)
1958-62
(4)
1965-66
(5)
17.8
20.9
17.1
14.9
16.9
3.1 -3.8
17.1
16.5
16.1
17. 1
21.2
20.8
20.5
20.8
18.5
18.1
17.7
17.9
16.8
16.2
15.8
15.8
18.8
18. 2
17.8
17. 5
4.1
4.3
4.4
3. 7
15.6
16.2
19.7
19.7
17.0
16.8
15. 3
14.8
17.2
16. 6
14.8
15.2
18.5
18.3
15.9
15.5
14.3
13.5
14.3
14,7
17.7
17.5
15.3
14.8
13.7
13.0
1929
(1)
National income accounts (NIA)
(2-1) (3-2) (4-3) (6-4) (5-2) (6-1)
-2.2
—1.7
—1.9
-1.9
—2.1
2.0
2.0
2.0
1.7
-0.9
2.0 -4.0
Alternative methods of depreciation :
2. The latest figures included in this article are
those for 1966. According to preliminary estimates
for 1967, before-tax profits (plus IVA) of nonfinancial corporations declined from $70 billion in
1966 to $66 billion in 1967 and, as a share of corporate product, from 16.9 percent in 1966 to 15.3
percent in 1967. The alternatives have not been
computed for 1967, but it is apparent that they
would decline about the same amount.
3. A more thorough discussion of estimating
depreciation within the framework of the national
accounts may be found in A Critique of the United
States Income and Product Accounts,, Studies in
Income and Wealth, Vol. 22, National Bureau of
Economic Research, 1958. See especially the papers
by George Jaszi, pp. 85-91, and Everett E. Hagen
and Edward C. Budd, pp. 252-263. Also see Edward
F. Denison, "Theoretical Aspects of Quality Change,
Capital Consumption, and Net Capital Formation,"
Problems of Capital Formation, Studies in Income
and Wealth, Vol. 19, National Bureau of Economic
Research, 1957, pp. 215-261.
Historical cost valuation :
Straight line depreciation:
F service lives
.85F service lives
.75F service lives.
F to .75F service lives
Double-declining balance depreciation:
.85F service lives
F to .75F service lives
Current price (1) valuation:
Straight line depreciation:
.85F service lives
F to .75F service lives
Double-declining balance depreciation:
.85F service lives
F to .75F service lives-
-2.4
-2.6
-2.7
-3.3
1.7
1.7
1.7
.4
4.1 -2.7 —1.7
3.5 -2.9 —2.0
1.9 -2.5
1.8 -3.1
1.6
.4
17. 1
16.2
3.7 -2.6 -1.6
3.1 —2. 8 —2. 0
2.8 -1.4
2.7 -2.1
16.3
15.6
3.4 —2. 4 -1.6
2.8 -2.7 -1.8
2.6 -1.4
2.6 -1.9
-2.7
-2.7
-2.8
—2. 9
2.3
:
1.0
2.0
.9
1. Includes IVA. Excludes profits originating in the rest of the world and profits on residential properties owned by nonfinancial corporations.
NOTE: Service life alternatives are 100 percent, 85 percent, and 75 percent of Bulletin F lives, and 100 percent of Bulletin F
lives through 1940, then gradually declining to 75 percent of Bulletin F in 1960 and thereafter.
Source: U.S. Department of Commerce, Office of Business Economics.
May 1968
close approximations to actual service
lives according to the Capital Stock
Study.4 The service lives that are .75F
approximate the tax lives used for new
investment in 1954-59, as estimated
from studies conducted by IRS.
The fourth assumption—declining
service lives—allows for the possibility
that actual service lives may now be
shorter than they were 10 to 20 years
ago. The reduction in lives assumed in
this section is very similar to the pattern that provided the closest approximation to tax depreciation in part I.
The decline is only one of several that
might be assumed;. however, the results
that would be obtained with the use of
other reasonable assumptions would not
be much different.
Depreciation formulas
There is little information on how
depreciation should be spread over the
service life of an asset. The decline in
value of an asset is determined chiefly
by the impact of obsolescence and
physical wear and tear on the asset. It
is generally assumed that these two factors result in a more rapid decline in
value in the early years of an asset's
life than the straight line formula provides. The effects of these factors are
frequently assumed to occur at a constant rate. Although the assumption of
a constant rate leads to the choice of
the declining balance formula for calculating depreciation, it does not determine the appropriate rate. That is,
we do not know whether the rate should
be l1/^, 2, or 3 times the percentage
taken by the straight line formula in
the first yearr or some other proportion,
and whether it should be the same for
all types of assets. Another controversial question involved in establishing
the pattern of depreciation charges is
whether the future services of assets
should be discounted.5 Discounting
lowers the depreciation rate in the first
years and raises it in the last years of
the service life.
4. Lawrence Grose, Irving Rottenberg, Robert C.
Wasson, "New Estimates of Fixed Business Capital
in the United States 1925-65," SURVEY OF CURRENT BUSINESS, December 1966.
5. See the references in footnote 3, and also
George Terborgh, Realistic Depreciation Policy,
Machinery and Allied Products Institute, 1954.
SURVEY OF CURRENT BUSINESS
19
Two depreciation formulas, the
straight line and the double-declining
balance formula, were chosen for the
study. Neither of these alternatives includes an allowance for a discount
factor.
particularly national income accounting, depreciation valued in current
prices is preferred.6 For this study, both
original cost and current price valuations were prepared. When depreciation of capital is valued at current
prices and profits are adjusted accordingly, these items are expressed in the
Valuation in current prices
same terms as other components of naTax depreciation is valued in terms tional income and product. Depreciaof original cost, but for many purposes, tion in current prices is obtained by
adjusting for the change in the price of
capital goods between the year in which
CHART 7
the investment occurred and the year in
which the depreciation deduction on the
Depreciation and Profits of
investment is taken. In the case of
Nonfinancial Corporations
equipment, this procedure measures the
— National income accounts (NIA)
resources required to replace used-up
— - Double-declining balance depreciation, F to .75F service
assets with identical assets.7
lives, current price valuation (highest alternative)
- - Straight line depreciation, Bulletin F service lives,
Because of deficiencies in the official
historical cost valuation (lowest alternative)
price indexes used for structures, the
Billion $ (ratio scale)
depreciation charge for structures over50
states the resources required to replace
used-up assets with identical assets. The
40
official price indexes essentially measure
the price of inputs to the construction
industry rather than output prices. To
the extent that there have been efficiencies in input use that have not been reflected in construction price indexes, the
depreciation charge valued in current
prices will be more than is necessary to
replace used-up assets with identical
assets.8 In an attempt to allow for this
problem, the alternative price indexes
from the Capital Stock Study were
used as well as the official indexes. The
alternatives show less rise than the
official price indexes. The valuations
based on the official price indexes and
those based on the alternative price in100
PROFITS
80-
1947
50
See notes on table 2.
55
60
c
U.S. Department of Commerce, Office of Business Economics
65
6. A somewhat similar adjustment is made for
inventory investment in the national income and
product accounts. The change in the book value of
business inventories and book profits are adjusted
to put inventories used up on a current replacement
cost basis.
7. The concept of capital stock involved here is
that of capital measured by its cost of replacement.
Alternatively, it is sometimes suggested that capital be measured by its productive capacity. Because
of the increases over time in the efficiency of capital goods, the depreciation charges arising from the
first concept exceed the resources required to replace used-up assets with new assets of equal productive capacity. These concepts are discussed more
fully in Edward F. Denison, op. cit.f especially pp.
222-234.
8. This point is discussed in George Jaszi, Robert
C. Wasson, Lawrence Grose, "Expansion of Fixed
Business Capital in the United States," SURVEY OF
CURRENT BUSINESS, November 1962.
SUEVEY OF CURRENT BUSINESS
20
dexes are identified as (1) and (2)
respectively in the tables.
The salient differences in the computed depreciation variants in the postwar years and in 1929 are summarized
in table 3. The 20 depreciation variants
selected for table 3 are reduced in number elsewhere in the article.
The effect of varying the service lives
is roughly the same for all combinations of depreciation methods and
valuations. The full range of service
life options, therefore, is shown only
for one combination—straight line depreciation valued at historical cost. The
selection is reduced to three options—F,
Table 3.—National Income Accounts Depreciation,1 Alternative Measures of Depreciation,
and Alternatives as a Percent of National Income Accounts Depreciation, Nonfinancial
Corporations, Selected Years
1929
1948
1953
1958
1962
1966
Ratio
1966/1929 1966/1948
National income accounts (NIA) (billion $).._.
4.1
6.8
12.8
21.3
28.8
37.0
9.0
May 1968
.85F, and F to .Y5F—for straight >line
depreciation valued at current prices
(1), and to two options—.85F and F to
.75F—for double-declining balance depreciation valued at historical cost and
at current prices (1). Since the results
show that the use of the alternative
price indexes for structures has little
effect, the only current price (2) variants included in the tables are those
based on .85F service lives.
In order to avoid repetition, the discussion of the depreciation variants is
combined with the discussion of profits
in the next section.
5.4
Alternative methods of depreciation (billions of
dollars)
Historical cost valuation:
Straight line depreciation:
F service lives. _
.85F service lives
.75F service lives
F to .75F service lives
_ _ _ _
_.
4.4
4.7
4.9
4.4
Current price (1) valuation:
Straight line depreciation:
F service lives
.85F service lives
.75F service lives
F to .75F service lives
Double-declining balance depreciation:
F service lives
.85F service lives
.75F service lives
F to 75F service lives
Current price (2) valuationStraight line depreciation:
.85F service lives
F to .75F service lives
Double-declining balance depreciation:
.85F service lives
F to .75F service lives
_ _ _.
11.4
12.1
12.8
12.3
16.7
18.1
19.1
18.9
21.8
23.5
24.8
25.3
29.8
32.1
33.9
34.8
6.8
6.8
6.9
7.9
4.7
4.8
4.8
5.2
7.7
8.1
8.5
8.0
13.3
14.1
14.7
14.3
19.4
20.6
21.6
21.6
24.7
26.2
27.3
27.9
34.2
36.3
37.8
38.6
7.0
7.0
7.1
7.9
4.5
4.5
4.5
4.8
5.4
5.6
5.7
5.4
Double-declining balance depreciation:
F service lives
.85F service lives
.75F service lives _ _
F to .75F service lives
6.4
6.7
7.0
6.7
4.9
5.2
5.4
4.9
_ _
9.9
10.0
10.1
10.2
15.8
16.3
16.6
16.9
23.0
23.8
24.5
25.4
27.1
28.1
29.0
30.7
35.0
36.7
37.9
40.1
6.5
6.6
6.6
7.5
3.5
3.7
3.8
3.9
5.6
5.8
5.9
5.6
10.7
11.0
11.2
11.1
17.0
17.5
17.8
18.1
24.7
25.5
26.0
27.0
28.9
29.8
30.5
32.1
38.5
40.0
41.2
42.9
6.8
6.9
6.9
7.6
3.6
3.6
3.7
3.9
5.4
5.2
9.8
9.9
16.0
16.6
23.3
24.8
27.5
30.0
36.0
39.4
6.6
7.6
3.7
4.0
5.7
5.5
10.7
10.9
17.3
17.9
25.0
26.5
29.2
31.5
39.5
42.3
7.0
7.7
3i 7
3.9
Alternative methods of depreciation as percent of
NIA
Historical cost valuation:
Straight line depreciation:
F service lives
.85 F service lives
.75F service lives
F to .75F service lives
Double-declining balance depreciation:
F service lives
85F service lives
.75F service lives
F to .75F service lives
Current price (1) valuation:
Straight line depreciation:
F service lives
.85F service lives
.75F service lives
F to .75 F service lives
Double-declining balance depreciation:
F service lives
<
.85F service lives
.75F service lives
F to .75F service lives
Current price (2) valuation:
Straight line depreciation:
.85F service lives
F to .75F service lives
Double-declining balance depreciation:
.85 F service lives
F to .75F service lives
107.5
115.0
120.2
107.5
93.3
98.2
102.2
97.2
88.7
94.9
99.9
95.9
78.7
84.9
89.7
89.0
75.5
81.4
86.0
87.8
80.7
86.9
91.6
94.1
119.2
125.7
130.3
119.3
111.8
118.3
123.6
117.1
103.8
110.0
114.9
111.5
91.3
97.1
101.4
101.6
85.7
90.7
94.5
96.7
92.5
98.1
102.3
104.5
130.6
136.1
139.5
130.6
144.6
146.1
147.4
149.1
123.7
127.0
129.7
131.7
108.0
112.1
115.2
119. 5
93.8
97.5
100.5
106.6
94.8
99.2
102.6
108.6
137.0
141.7
144.6
137.0
156.7
160.2
163.0
162.6
133.1
136. 6
139.4
141.3
116.2
119.8
122.5
127.0
100.2
103.2
105.7
111.2
104.1
108.2
111.4
116.1
132.4
126.9
142.4
144.7
125.3
129.5
109.7
116.8
95.4
104.1
97.4
106.5
138.2
133.5
156.9
158.8
135.1
139.5
117.6
124.5
101.4
109.1
106.8
114.4
1. Excludes depreciation on residential properties owned by nonfinancial corporations.
NOTE: See note to table 2 concerning service lives.
Source: U.S. Department of Commerce, Office of Business Economics.
Alternative Measures of
Corporate Profits
In the NIA version of corporate profits—as in IKS data—tax depreciation
is deducted from gross profits in arriving at profits before taxes. The effects of
the alternative measures of depreciation
on profits may be obtained simply by
deducting the alternative measures
from the sum of capital consumption
allowances and before-tax profits. This
section first compares in summary
fashion for the post-World War II period the alternatives obtained in this
manner with NIA profits and then considers some of the alternatives more
fully. The section concludes by extending the comparisons back to the 1920's
and by briefly considering after-tax
profits and property income (profits
plus net interest).
Summary, 1948 to 1966
All of the alternative measures of
before-tax profits, both in d o l l a r
amounts and as shares of corporate
product, display the same pattern found
in NIA profits in the period after
World War II. This is so even though
the substitution of some of the alternative depreciation variants has a substantial effect on the level of dollar
profits and to some extent strengthens
the upward trend in profits.
May 1968
SURVEY OF CURRENT BUSINESS
During the 1950's, the level of NIA
profits showed a slow rise punctuated
Ratio of Profits to Output of Nonfinancial Corporations
by three cyclical contractions following
NIA vs. alternatives based on
> NIA vs. alternatives based on
peaks reached in 1951, 1955, and 1959.
historical cost depreciation
current price (1) depreciation
Each of the first two peaks was followed
by 3 years of declining profits resulting
in troughs in 1954 and 1958. After the
1959 peak, profits declined in 1960,
showed no change in 1961, and posted a
vigorous and uninterrupted expansion
from 1961 to 1966. (See footnote 2 for
1967 figures.)
Although showing the same cyclical
pattern, the alternatives increase more
10
rapidly over the postwar period than
the NIA series. Most of the alternatives
started from a lower level in the late
1940's. According to NIA definitions,
before-tax profits of nonfinancial corporations (excluding profits originating
from the ownership of residential properties) amounted to $29% billion in
1948. The alternatives ranged from
$25% billion to $30 billion in 1948, and 10
all increased more rapidly than NIA
profits during the 1950's. In the midfifties, all of the measures based on historical cost depreciation were above
NIA profits; in 1962, some of the measures based on current price depreciation
moved above NIA profits. Since 1962,
the NIA series has remained below all
but one of the measures based on historical cost depreciation and below some of 10
the current price measures. In 1966,
NIA before-tax profits amounted to $69 30
billion. The alternatives based on historical cost depreciation ranged from $67
billion to $76 billion; those based on
current price depreciation from $63 billion to $71 billion (table 4, chart 7).
As a share of corporate product,
profits according to NIA definitions declined during the 1950's, since the
slowly rising level of profits in the
1950's did not keep pace with the
growth in corporate product. Each
successive peak found profits a smaller
share of corporate product; moreover,
at the 1958 trough, profits were a
smaller share than in 1954. This pattern
of reduced shares was often referred to
as the "profits squeeze." However, in the
late 1950's and early 1960's, the share
of profits stabilized, and it has re- 1929
See notes on table 2.
covered since then. Even so, in 1966, the
profits share was still below the share U.S. Department ot Commerce, Office of Business Economics
21
CHART 8
10
20
10
20
10
20
10
SUEVEY OF CUEEENT BUSINESS
22
at the 1955 peak and far below the
ratios in the early 1950's.
As chart 8 shows, the "profits
squeeze" also occurred with the alternative measures of profits in the 1950's,
but less than in the NIA series. The alternatives based on depreciation valued
at current prices also show larger increases since the late 1950's than the
NIA series. As a result, the alternative
profits shares, especially those based on
depreciation valued at current prices in
1966, were closer to the positions in the
early 1950's than was the NIA series.
It is important to point out that the
years 1948-52 should not be considered
the norm against which subsequent
profits should be judged. The early
postwar years were years of excess demand because of the backlogs carried
over from the depression and war. In
addition, it was a period when depreciation charges were relatively low
because the stock of capital was abnormally low and was valued largely
at prewar prices.
Profits With Historical Cost
Depreciation
Corporate profits based on straight
line depreciation with Bulletin F service lives and historical cost valuation
were about the same level as NIA profits
in the immediate postwar period but
have run above NIA profits since then.
The difference in level in these two
series is due to the changes in depreciation practices examined in part I. However, the difference is not exactly the
same as the total effect of changes in
practices shown in part I because the
figures in this part do not include profits
of financial corporations but do include
profits of farms.
As a percent of gross corporate product, NIA profits declined 6 points, from
an average of 21 percent in 1948-52 to
an average of 15 percent in 1958-62
(table 2). In comparison, the profits
share based on straight line depreciation
and Bulletin F service lives declined
4% points from 21% percent in 1948-52
May 1968
to 16% percent in 1958-62. Both series
increased 2 points from 1958-62 to
1965-66 with the result that the alternative series at 18% percent in 1965-66
was about 2% points below its 1948-52
position while the NIA series at 17 percent was 4 points below.
Varying service lives
The effect of shorter service lives in
the postwar period is to increase depreciation and to reduce profits. On the
average for the postwar period, the
profits share based on constant .85F
service lives and straight line depreciation was about % point less than the
share based on Bulletin F service lives.
The share based on .75F service lives in
turn was about % point below the share
based on .85F service lives. However,
although the profits shares based on
constant service lives shorter than Bulletin F have been smaller, the movements in these series closely parallel
those in the share based on Bulletin F
service lives.
l
Table 4.—Profits Before Taxes and Profits Before Taxes as Percent of Gross Product of Nonfinaneial Corporations:
[Billions of dollars]
1929
Line
1 Corporate profits, national income accounts (NIA)
2
Percent of gross corporate product
3
4
1931
1932
1933
1935
1936
1937
1938
1939
1940
1941
1942
6.4
14.3
1.9
5.4
—1.4
—5.7
—1.5
-6.3
1.3
4.4
2.8
o o
4.7
12.0
5.8
13.0
3.9
9.8
5.3
12.2
8.6
17.1
14.0
21.3
18.9
22.8
13.0
26.0
10.6
23.7
6.1
17.6
2.5
9.9
2.2
8.9
4.9
15.9
6.3
18.6
8.2
20.9
9.4
20.9
7.5
18.9
9.0
20.5
12.3
24.5
18.1
27.6
23.9
28.8
8.6
17.1
8.3
16.5
8.1
16.1
86
17.1
6.0
13.5
5.7
12.8
5.5
12.3
6.0
13.5
1.6
4.5
1.3
3.6
1.1
3.1
1.6
4.5
—2.0 -2.1
—7.8 —8.7
-2.2 -2.3
—8.8 -9.5
-2.4 —2.5
-9.4 -10.0
—2.0 —2.1
-7.8 -8.7
.7
2.4
.5
1.8
.4
1.4
..7
2.4
2.2
6.5
2.0
6.0
2.0
5.7
2.2
6.5
4.1
10.3
3.9
9.9
3.8
9.7
41
10.3
5.1
11.3
4.9
11.0
4.9
10.9
5.1
11.3
3.1
7.8
3.0
7.5
2.9
7.4
3.1
7.8
4.6
10.5
4.5
10.3
4.5
10.2
4.6
10.5
7.9
15.7
7.8
15.5
7.8
15.5
7.9
15.7
13.5
20.6
13.4
20.4
13.4
20.4
13.5
20.6
19.2
23.1
19.1
23.0
19.1
23.0
19.2
23.1
7.8
15.6
8.1
16.2
5.3
11.9
5.6
12.5
1.0
3.0
1.2
3.6
-2.2
-8.9
—2.1
-8.3
-2.2
-9.1
—2.1
—8.7
.7
2.4
.8
2.6
2.3
6.6
2.3
6.8
4.1
10.4
41
10.5
5.1
11.3
5.1
11.5
3.1
7.9
3.2
8.0
4.6
10.6
4.7
10.7
7.9
15.6
7.9
15.7
13.4
20.4
13.4
20.5
19.1
23.0
19.1
23.1
7.6
15.2
7.4
14.8
7.6
15.2
5.3
12.0
5.1
11.5
5.3
12.0
1.2
3.5
1.0
3.0
1.2
3.5
-1.8
-7.3
—2.0
-7.8
-1.8
-7.3
-2.0
-8.0
-2.0
-8.4
-2.0
—8.0
.7
2.2
.6
2.0
.7
2.2
2.1
6.0
2.0
5.9
2.1
6.0
3.9
9.9
3.8
9.8
3.9
9.9
4,5
10.1
4.5
10.0
4.5
10.1
2.6
6.5
2.5
6.4
2.6
6.5
4.1
9.5
4.1
9.5
4.1
9.5
7.3
14.6
7.4
14.6
7.3
14.6
12.7
19.3
12.7
19.3
12.7
19.3
17.7
21.4
17.8
21.4
17.7
21.4
7.2
14.3
7.4
14.7
4.9
11.1
5.1
11.5
1.0
2.8
1.1
3.2
-1.8
-7.3
-1.8
-7.1
-1.8
-7.6
-1.8
-7.5
.9
2.8
.9
2.8
2.3
6.6
2.3
6.6
4.1
10.3
4.1
10.3
4.7
10.5
4.7
10.5
2.8
7.0
2.7
6.9
4.4
10.0
4.3
9.9
7.5
14.9
7.5
14.9
12.7
19.4
12.7
19.4
17.9
21.6
17.9
21.6
8.9
. . _ _ 17.8
Corporate profits plus depreciation, national income accounts (NIA)
Percent of gross corporate product
_
_ .
1930
1934
Alternative methods of depreciation:
Historical cost valuation:
5
6
7
8
9
10
11
1?,
Straight line depreciation, F service lives
Percent of gross corporate product
Straight line depreciation, .85F service lives. _ . .
Percent of gross corporate product
Straight line depreciation, .75F service lives
_.
Percent of gross corporate product
Straight line depreciation, F to .75F service lives
Percent of gross corporate product
.
13
14
15
16
Double-declining balance depreciation, .85F service lives
.. .
Percent of gross corporate product
Double-declining balance depreciation, F to .75F service lives
Percent of gross corporate product
_~
_• - . - ' . .
.
__
Current price (1) valuation:
17
18
19
20
21
22
Straight line depreciation, F service lives
Percent of gross corporate product . _ _ .
Straight line depreciation, .85F service lives
Percent of gross corporate product
Straight line depreciation, F to .75F service lives. . _.
Percent of gross corporate product
23
24
25
26
Double-declining balance depreciation, .85F service lives
Percent of gross corporate product
Double-declining balance depreciation, F to .75F service lives
Percent of gross corporate product
_..
-.._..
Current price (2) valuation:
27
28
Straight line depreciation, .85F service lives
Percent of gross corporate product . .
7.6
15.1
5.3
11.9
1.2
3.4
—1.8
-7.3
-2.0
-8.2
.7
2.2
2.1
6.1
3.9
9.9
4.7
10.4
2.7
6.9
4.3
9.9
7.5
15.0
12.8
19.5
17.8
21.5
29
30
Double-declining balance depreciation, .85F service lives
Percent of gross corporate product
7.3
14.6
5.1
11.4
1.1
3.2
-1.7
-7.0
-1.8
-7.5
.9
3.0
2.3
6.8
4.1
10.4
4.8
10.7
2.9
7.4
4.5
10.3
7.7
15.2
12.8
19.6
18.0
21.7
50.1
44.5
34.8
25.1
24.4
30.7
34.2
39.3
44.9
39.6
43.7
50.4
65.6
82.9
31
Gross corporate product
1. See notes to table 2.
Source: U.S. Department of Commerce, Office of Business Economics.
23
SUEVEY OF CUKEENT BUSINESS
May 1968
Profits With Current Price
Depreciation
The effect of the gradually declining
service lives, from 100 percent of Bulletin F in 1940 to .75F in 1960,1s to retard
the rate of increase in profits as compared with profits based on constant
service lives. As a result, the movements
in this share fall between the movements in the shares based on constant
service lives and the NIA share. In
1965-66, the share based on gradually
declining services lives was 3% points
below its 1948-52 position as compared
with shortfalls of 2Ms points in the
shares based on constant service lives
and 4 points in the NIA share.
Since World War II, profits based on
depreciation valued at current prices
have generally been lower than those
based on historical cost depreciation.
The effect of valuing depreciation incurrent prices is particularly pronounced for the first part of this period
when historical cost depreciation reflected the lower prewar level of prices
at which most of the stock of capital
goods was still valued. In 1948, the deDouble-declining vs. straight line
preciation variants valued at current
In comparison with straight line de- prices were abut 40 to 50 percent above
preciation, the use of the double-declin- the corresponding historical cost variing balance formula reduces profits in ants. The difference steadily decreased
the postwar period. While the profits as much of the prewar stock was reshares based on double-declining
placed and the rate of increase in investbalance depreciation have averaged
ment goods prices tapered off in the
about 1 point below the corresponding
shares based on straight line deprecia- 1950's. In 1966, the difference between
tion in the postwar period, the move- current and historical cost depreciation
ments in the shares have been almost was about 10 to 15 percent (chart 9).
The question of whether business
exactly the same - as those based on
straight line depreciation.
should be permitted to claim deprecia-
tion valued at current prices has been
the subject of considerable discussion.
Assuming the same income tax rates,
current price valuation of depreciation
in the years since World War II would
have substantially reduced the amount
of tax on corporate profits and increased corporate cash flow. Since the
midfif ties, this question has perhaps become less pressing. As was shown above,
the difference between depreciation
valued at historical cost and current
prices has become smaller. Also, the
liberalizations in depreciation practices
have reduced profits and increased cash
flow by about as much as would have
been achieved by the adoption of current price valuation without the reductions in service lives or the use of
accelerated methods. As may be seen in
chart 8, by the late 1950's, the changes
in depreciation practices had almost reduced NTA profits to the level of profits
based on current price depreciation
computed with the straight line formula and .85F service lives, and beginning in 1962, the changes in practices
National Income Accounts Definition Compared With Profits Based on Alternative Methods of Depreciation, 1929-66
[Billions of dollars]
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
22.8
23.1
21.9
21.5
17.3
18.1
16.8
16.9
23.2
19.3
29.6
21.6
26.7
20.1
33.4
22.1
37.8
21.8
34.6
19.1
33.8
17.4
31.6
16.6
40.2
18.6
39.0
16.9
38.1
15.8
33.3
14.2
42.6
16.2
40.1
14.8
40.1
14.5
44.8
14.9
48.3
15.2
54.9
16.0
62.8
16.8
69.1
16.9
1
2
28.1
28.4
27.9
27.3
23.6
24.7
21.4
21.5
28.9
24.1
36.4
26.6
34.5
25.9
42.0
27.7
47.8
27.5
45.8
25.2
46.6
24.0
46.1
24.2
57.0
26.4
57.3
24.9
58.3
24.2
54.5
23.2
65.2
24.8
64.1
23.6
65.2
23.6
73.6
24.4
78.7
24.8
87.1
25.4
97.3
26.1
106.1
26.0
3
23.5
23.8
23.4
23.7
23.4
23.7
23.4
23.8
23.4
22.9
23.3
22.9
23.4
22.9
23.3
22.9
19.0
19.9
19.0
19.9
19.0
19.9
18.9
19.9
16.5
16.7
16.4
16.6
16.4
16.5
16.4
16.6
23.4
19.5
23. 2
19.4
23. 1
19.3
23.3
19.4
30.0
21.9
29.7
21.7
29.4
21.5
29.8
21.7
27.1
20.4
26.6
20.0
26.3
19.7
26.7
20.1
33.5
22.2
33.0
21.8
32.5
21.5
33. 0
21.8
38.3
22.0
37.6
21.6
37.1
21.3
37.6
21.6
35.3
19.4
34.6
19.0
34.0
18.7
34.5
19.0
35.2
18.1
34.4
17.7
33.8
17.4
34.3
17.7
34.0
17.8
33.1
17.3
32.4
17.0
32.9
17.2
43.9
20.4
42.9
19.9
42.1
19.5
42.6
19.7
43.0
18.7
41.9
18.2
41.0
17.8
41.3
17.9
42.7
17.7
41.4
17.2
40.4
16.8
40.7
16.9
37.8
16.1
36.5
15.5
35.5
15.1
35.6
15.2
47.5
18.1
46.1
17.5
45.0
17.1
45.0
17.1
45.0
16. 5
43.5
16.0
42.3
15.6
42.2
15.5
44.8
16.2
43.2
15.6
42.0
15.2
41.6
15.0
51.8
17.2
50.1
16.6
48.8
16.2
48.3
16.0
55.3
17.4
53.5
16.8
52.2
16.4
51.5
16.2
62.0
18.0
60.1
17.5
58.6
17.1
57.8
16.8
70.1
18.8
68.0
18.2
66.4
17.8
65.5
17.6
76.2
18.7
73.9
18.1
72.2
17.7
71.3
17.4
5
6
7
8
9
10
11
12
23.5
23.8
23.5
23.9
23.4
23.0
23.4
22.9
18.9
19.9
18.9
19.8
16.1
16.2
16.1
16.2
22.3
18.7
22.4
18.7
28.3
20.7
28.4
20.7
25.0
18.8
25.1
18.8
31.2
20.6
31.2
20.6
35.8
20.6
35.8
20.6
32.8
18.0
32.7
18.0
32. 5
16.7
32.3
16.6
31.1
16.3
30.8
16.1
40.8
18.9
40.3
18.7
39.5
17.1.
38.9
16.9
38.8
16.1
38.0
15.8
33.9
14.4
33.0
14.0
43.5
16.6
42.4
16.1
40.7
15.0
39.3
14.5
40.5
14.6
38.9
14.1
47.4
15.8
45.7
15.2
50.7
16.0
48.8
15.4
57.0
16.6
55.0
16.0
64.4
17.3
62.3
16.7
69.8
17.1
67.4
16.5
13
14
15
16
21.9
22.2
22.0
22.3
21.9
22.2
21.8
21.3
21.9
21.5
21.8
21.3
17.4
18.3
17.6
18.4
17.4
18.2
14.5
14.6
14.6
14.7
14.4
14.5
20.5
17.1
20.6
17.2
20.4
17.0
26. 5
19.4
26.4
19.3
26.2
19.1
23.6
17.7
23.4
17.5
23.1
17.4
29.9
19.8
29.6
19.6
29.3
19.4
33.9
19.5
33.5
19.3
33.1
19.0
30.8
17.0
30.4
16.7
29.9
16.5
30.7
15.8
30.3
15.6
29.7
15.3
29.7
15.5
29.2
15.3
28.5
14.9
39. 5
18.3
38.9
18.0
38.0
17.6
37.6
16.3
36.9
16.0
35.8
15.5
36.5
15.1
35.7
14.8
34.3
14.2
31.6
13.4
30.7
13.1
29.1
12.4
41.2
15.7
40.3
15.4
38.5
14.7
39.1
14.4
38.1
14.0
36.0
13.3
39.3
14.2
38.3
13.8
35.9
13.0
46.5
15.5
45.5
15.1
42.9
14.2
50.4
15.9
49.3
15.5
46.5
14.6
57.1
16.6
55.9
16.3
52.9
15.4
65.2
17.5
63.8
17.1
6Q.6
16.3
71.0
17.4
69.4
17.0
65.9
16.1
17
18
19
20
21
22
22.4
22.7
22.2
22.5
22.3
21.9
22.2
21.7
17.8
18.7
17.6
18.5
14.5
14.7
14.4
14.5
20.0
16.7
19.9
16.6
25.5
18.6
25.3
18.5
22.2
16.7
22.0
16.5
28.4
18.8
28.1
18.6
32.3
18.5
31.9
18.3
29.3
16.1
28.8
15.8
29.1
15.0
28.5
14.7
27.9
14.6
27.1
14.2
37.4
17.4
36.5
16.9
35.3
15.3
34.2
14.8
33.9
14.0
32.5
13.5
29.1
12.4
27.6
11.7
38.8
14.8
37.1
14.1
36.4
13.4
34.4
12.7
36.6
13.2
34.5
12.5
43.8
14.6
41.5
13.8
47.4
14.9
45.0
14.2
53.7
15.6
51.2
14.9
61.1
16.4
58.4
15.7
66.0
16.2
63.1
15.5
23
24
25
26
22.0
22.3
21.9
21.4
17.6
18.4
14.6
14.8
20.6
17.2
26.7
19.5
23.7
17.8
29.9
19.8
33.8
19.4
30.6
16.9
30.5
15.7
29.5
15.4
39.2
18.2
37.3
16.2
36.1
15.0
31.2
13.3
41.0
15.6
38.8
14.3
39.0
14.1
46.1
15.3
49.9
15.7
56.5
16.5
64.5
17.3
70.1
17.2
27
28
22.4 22.3
22. 7 21.8
17.8
18.7
14.6
14.7
20.1
16.8
25. 7 22.5
18.8 16.9
28.6
18.9
32.5
18.7
29.4
16.2
29.3
15.1
28.2
14.7
37.7
17.5
35.6
15.4
34.3
14.2
29.6
12.6
39.4
15.0
37.0
13.6
37.2
13.4
44.4
14.7
47.9
15.1
54.3
15.8
61.7
16.5
66.6
16.3
29
30
102.1
95.3
99.1
119.8
151.4
174.0
181.7
194.2
191.0 215.7
230.6
241.1
235.2
262.6
271.9
276.9
301.1
317.8
343.3 373.0
408.4
31
98.7
136.9
133.1
1959
1960
1961
1962
1963
1964
1965
1966
Line
4
SUEVEY OF CURRENT BUSINESS
24
May 1968
with the 2% point differences in the
shares based on historical cost depreciation and with the 4 point shortfall in the
NIA share. As with historical cost
valuation, the movements in the profits
shares based on depreciation with
changing service lives and current price
valuation tend to fall between the movements in the shares based on constant
service lives and the NIA share. In
1965-66, they were about 2 points below
their 1948-52 positions.
moved NIA profits below this computed
alternative. Although this comparison
is interesting, it should not be pressed
too far. The case for current price valuation has not been based on the same
grounds as the case for changes in service lives and in depreciation methods;
some proponents of depreciation reform
have advocated both types of changes.9
As a percent of gross corporate product, profits based on current price depreciation in 1965-66 were closer to
their earlier highs in 1948-52 than the
shares based on historical cost depreciation. The shares based on current price
depreciation—both straight line and
double-declining balance—with .85F
service lives were about l1/^ points
below 1948-52. This may be compared
9. Several viewpoints concerning the adjustment
of tax depreciation for changes in the price level
are presented in U.S. Congress, House Committee
on Ways and Means, Tax Revision Compendium,
Vol. 2, November 16, 1959, Government Printing
Office, 1959, pp. 793-932.
with 1929 than do NIA profits for 196566. As a share of corporate product, the
alternatives were all above their positions in 1929 while NIA profits were
slightly below. From 1929 to 1965-66,
the NIA profits share declined 1 point.
The alternative measures based on historical cost valuation and constant service lives increased about 1% points;
those based on gradually declining service lives increased % point. The shares
based on depreciation valued at current
prices increased more than the shares
based on the corresponding historical
Other Comparisons
cost variants; in current prices, those
based on constant service lives increased
The detailed discussion thus far has 2 to 2x/4 points and those based on gradbeen confined to the postwar period. ually declining service lives, 1 point.
However, there is some merit in evaluIt should be noted that the comating profits in a longer time perspec- parisons with 1929 are not as solidly
tive by reference to profits in the late based as those involving only years
1920's.
after World War II. There are some
The alternative measures of profits unresolved questions concerning the
for 1965-66 compare more favorably alternative estimates of profits for 1929
Table 5.—Profits After Taxes l and Profits After Taxes as Percent of Gross Product of Nonfinancial Corporations:
[BiUions of dollars]
Line
1929
1 Corporate profits* national income accounts (NIA)
2
Percent of gross corporate product
3 Corporate profits plus depreciation, national income accounts (NIA)
4
Percent of gross corporate product
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
7.7
15.4
5.6
12.6
1.4
4.1
-1.8
-7.0
-2.0
-8.3
0.7
2.1
1.9
5.6
3.4
8.6
4.4
9.8
2.9
7.4
4.0
9.1
5.9
11.7
6.5
9.9
7.7
9.3
11.8
23.7
9.8
22.1
5.7
16.3
2.1
8.5
1.7
6.8
4.2
13.7
5.4
16.0
6.9
17.6
8.0
17.7
6.5
16.5
7.6
17.4
9.6
19.1
10.7
16.2
12.7
15.3
7.4
14.8
5.3
11.8
1.1
3.2
—2.3 —2.6
-9.1 —10.7
.0
.1
1.3
3.9
2.7
7.0
3.7
8.2
2.2
5.5
3.2
7.4
5.1
10.2
6.1
9.2
8.0
9.7
7.1
14.2
5.0
11.1
.8 —2.5 -2.8
2.3 —10.1 -11.5
-.1
—.5
1.2
3.4
2.6
6.6
3.5
7.8
2.0
5.1
3.1
7.1
5.1
10.1
6.0
9.1
7.9
9.6
6.9
13.8
4.7
10.6
.6 -2.7 -2.9
1.8 -10.8 -12.0
-.3
-.8
1.1
3.1
2.5
6.4
3.4
7.7
2.0
5.0
3.1
7.1
5.0
10.0
5.9
9.0
7.9
9.5
7.4
14.8
5.3
11.8
1.1
3.2
-2.3 —2.6
-9.2 -10.7
.0
.1
1.3
3.9
2.7
7.0
3.7
8.2
2.2
5.5
3.2
7.4
5.1
10.2
6.0
9.2
8.0
9.7
6.7
13.3
4.6
10.2
.6 -2.6 -2.7
1.7 -10.3 -11.1
.0
.1
1.4
4.0
2.8
7.0
3.6
8.1
2.2
5.5
3.3
7.5
5.1
10.2
5.9
9.0
7.9
9.6
6.9
13.9
4.8
10.8
.8
2.3
-2.4 -2.6
—9.7 -10.7
.1
.4
1.4
4.2
2.8
7.2
3.7
8.3
2.2
5.6
3.3
7.6
5.2
10.3
6.0
9.1
8.0
9.6
6.5
12.9
6.2
12.5
6.5
12.9
4.6
10.3
4.4
9.9
4.6
10.3
.8
2.2
.6
1.7
.8
2.2
-2.2 -2.5
-8.7 -10.0
—2.3 -2.5
-9.1 -10.4
-2.2 -2.5
-8.7 -10.0
.0
-.1
-.1
-.3
.0
-.1
1.2
3.4
1.1
3.3
1.2
3.4
2.6
6.5
2.5
6.4
2.6
6.5
3.1
6.9
3.1
6.8
3.1
6.9
1.6
4.1
1.6
4.1
1.6
4.1
2.8
6.3
2.8
6.4
2.8
6.3
4.6
9.1
4.6
9.2
4.6
9.1
5.2
7.9
5.2
8.0
5.2
7.9
6.6
7.9
6.6
7.9
6.6
7.9
6.0
12.0
6.2
12.4
4.2
9.4
4.4
9.8
.5
1.5
.7
1.9
-2.2
-8.7
-2.1
-8.5
-2.3
-9.6
-2.3
-9.5
.2
.5
.2
.5
1.4
4.0
1.4
4.0
2.7
6.9
2.7
6.9
3.3
7.3
3.3
7.3
1.8
4.6
1.8
4.5
3.0
6.9
3.0
6.8
4.8
9.5
4.8
9.4
5.3
8.1
5.3
8.0
6.8
8.2
6.7
8.1
6.4
12.8
4.6
10.2
.7
2.1
—2.2 -2.5
-8.7 -10.2
.0
-.1
1.2
3.5
2.6
6.5
3.2
7.2
1.8
4.5
2.9
6.7
4.8
9.5
5.4
8.2
6.7
8.0
. . . . 12.3
6.2
4.4
9.8
.7
1.9
—2.1
—8.3
-2.3
-9.5
.2
.7
1.4
4.2
2.8
7.1
3.4
7.5
2.0
5.0
3.1
7.2
4.9
9.8
5.4
8.2
6.8
8.2
50.1
44.5
34.8
25.1
24.4
30.7
34.2
39.3
44.9
39.6
43.7
50.4
65.6
82.9
Alternative methods of depreciation:
Historical cost valuation:
5
6
Straight line depreciation, F service lives. . _
Percent of gross corporate product
7
8
Straight line depreciation, .85F service lives _ _
Percent of gross corporate product
.
9
10
Straight line depreciation, .75F service lives
Percent of gross corporate product
.
11
12
Straight line depreciation, F to .75F service lives
Percent of gross corporate product
13
14
Double-declining balance depreciation, .85F service lives
Percent of gross corporate product
15
16
Double-declining balance depreciation, F to .75F service lives
Percent oi gross corporate product .
..
Current price (1) valuation:
17
18
19
20
21
22
Straight line depreciation, F service lives
Percent of gross corporate product
Straight line depreciation, .85F service lives
Percent of gross corporate product
Straight line depreciation, F to .75F service lives
Percent of gross corporate product
23
?4
25
26
Double-declining balance depreciation, .85F service lives . .
Percent of gross corporate product
Double-declining balance depreciation, F to .75F service lives
Percent of gross corporate product
. _
. ..
..- ._
Current price (2) valuation:
?,7
28
Straight line depreciation, .85F service lives
Percent of gross corporate product
29
30
Double-declining balance depreciation, .85F service lives
Percent of gross corporate product
31
Gross corporate product... . .
1. See notes to table 2.
Source: U.S. Department of Commerce, Office of Bussiness Economics.
SURVEY OF CURRENT BUSINESS
May 1968
that are discussed in a technical note
below. The 1929 profits share presented
here is lower than that shown in the
1963 SURVEY article because of an upward revision in the estimate of corporate gross product. Aside from these
technical points, it would be desirable
to base the comparisons on several years
in the 1920's instead of 1929 alone. The
partial information that is available
suggests that the 1929 profits share was
about the same as it was at the preceding peak in 1926 and almost 2 percentage points above the average for 192529.10 Substituting 1925-29 for 1929 in
the comparison shifts the 1 point decline in the NIA share from 1929 to
1965-66 to an increase of almost 1 point
and strengthens the increases shown in
the alternative shares.
10. Bfarlowe D. Osborne and Joseph B. Epstein,
"Corporate Profits Since World War II," Survey
of Current Business, January 1956.
Profits after taxes
Profits after taxes are shown in table
5. After-tax profits have not been emphasized in this article because they
introduce another variable—changes in
the tax rate—which must also be considered. After-tax profits were obtained
by deducting the corporate profits tax
as shown in the national accounts from
each of the profits measures.
Because of the relatively higher level
of taxes in the Korean war, the aftertax shares in 1965-66 compare more
favorably with 1948-52 than do beforetax profits. Several alternatives increase from 1948-52 while the NIA
after-tax share declines slightly. In
contrast, because of the low level of
taxes in 1929, both the NIA and alternative profits shares decline from 1929
to 1965-66.
Property income
The measures of profits presented in
this article may be combined with net
25
interest to obtain the share of property
income in gross corporate product. Net
interest as a percent of gross corporate
product has displayed a pattern different from that shown by profits. In
1929, net interest expense of nonfinancial corporations amounted to 2.8 percent of corporate product. In 1948-52,
the interest share was very low, averaging 0.7 percent, but by 1965-66, it
averaged 1.6 percent. When net interest
is added to profits, the resultant property shares based on computed depreciation show less change over the periods
1929 to 1965-66 and 1948-52 to 1965-66
than the profits shares alone. The property share according to NIA definitions
also shows less change from 1948-52 to
1965-66 than the profits share, and the
decline from 1929 to 1965-66 is accentuated by the addition of net interest.
Ratios to income .originating
Since some analysts prefer to consider
ratios of profits to income originating,
National Income Accounts Definition Compared With Profits Based on Alternative Methods of Depreciation, 1929-66
[Billions of dollars]
1954
1955
15.4
7.9
16.0
8.4
20.4
9.5
19.3
8.4
19.3
8.0
28.1
15.5
28.2
14.5
30.5
15.9
37.3
17.3
37.6
16.3
17.3
10.0
17.6
9.7
16.8
8.7
18.3
9.6
24.2
11.2
16.3
10.7
16.7
9.6
16.9
9.3
16.0
8.3
17.4
9.1
16.8
12.6
15.8
10.4
16.1
9.3
16.3
9.0
15.4
7.9
17.9
13.1
17.2
12.9
16.3
10.8
16.7
9.6
16.8
9.3
11.5
9.6
16.5
12.0
15.5
11.6
14.5
9.6
14.9
8.5
7.4
7.5
11.6
9.7
16.6
12.1
15.6
11.7
14.5
9.6
7.2
7.5
7.3
7.7
7.1
7.5
5.9
5.9
6.0
6.0
5.8
5.8
9.7
8.1
9.7
8.1
9.5
8.0
14.7
10.7
14.6
10.6
14.4
10.5
14.1
10.6
13.9
10.4
13.6
10.2
9.7
9.5
9.6
9.4
7.6
8.0
7.4
7.8
5.9
5.9
5.7
5.8
9.2
7.7
9.1
7.6
13.6
9.9
13.4
9.8
8.2
8.3
9.3
9.1
7.3
7.7
6.0
6.1
9.8
8.2
8.6
8.7
9.7
9.5
7.6
7.9
5.9
6.0
98.7
102.1
95.3
99.1
1960
1961
1962
1963
1964
1965
1966 Line
17.1
7.3
21.9
8.3
20.7
7.6
20.4
7.4
24.0
8.0
25.6
8.0
30.7
9.0
35.3
9.5
39.0
9.6
1
2
39.5
16.4
38.4
16.3
44.6
17.0
44.6
16.4
45.5
16.4
52.8
17.5
55.9
17.6
62.9
18.3
69.9
18.7
76.0
18.6
3
4
23.3
10.1
23.9
9.9
21.6
9.2
26.8
10.2
25.5
9.4
25.1
9.1
31.0
10.3
32.6
10.2
37.8
11.0
42.6
11.4
46.2
11.3
5
6
23.2
10.7
22.2
9.6
22.6
9.4
20.3
8.6
25.4
9.7
24.1
8.9
23.6
8.5
29.3
9.7
30.8
9.7
35.9
10.5
40.5
10.9
43.9
10.7
7
8
16.7
8.7
22.4
10.4
21.3
9.2
21.6
9.0
19.3
8.2
24.3
9.3
22.9
8.4
22.3
8.0
28.0
9.3
29.4
9.3
34.4
10.0
39.0
10.4
42.1
10.3
9
10
15.9
8.2
17.2
9.0
22.8
10.6
21.7
9.4
21.9
9.1
19.5
8.3
24.3
9.3
22.7
8.4
21.9
7.9
27.5
9.1
28.7
9.0
33.7
9.8
38.1
10.2
41.2
10.1
11
12
15.1
8.3
14.1
7.3
15.4
8.1
21.0
9.7
19.8
8.6
20.0
8.3
17.7
7.5
22.8
8.7
21.3
7.8
20.8
7.5
26.7
8.9
27.9
8.8
32.8
9.6
37.0
9.9
39.7
9.7
13
14
14.8
8.5
14.9
8.2
13.9
7.2
15.1
7.9
20.5
9.5
19.2
8.3
19.2
8.0
16.8
7.1
21.7
8.3
19.9
7.3
19.3
7.0
24. 9
8.3
26.1
8.2
30.9
9.0
34.8
9.3
37.4
9.1
15
16
13.2
8.7
12.9
8.6
12.6
8.4
12.9
7.4
12.6
7.2
12.2
7.0
13.1
7.2
12.7
7.0
12.2
6.7
12.3
6.4
11.9
6.1
11.3
5.8
14.0
7.3
13.5
7.1
12.8
6.7
19.7
9.1
19.1
8.9
18.2
8.4
18.0
7.8
17.2
7.5
16.1
7.0
17.7
7.3
16.8
7.0
15.5
6.4
15.4
6.6
14.5
6.2
13.0
5.5
20.5
7.8
19.7
7.5
17.8
6.8
19.6
7.2
18.7
6.9
16.6
6.1
19.6
7.1
18.6
6.7
16.2
5.9
25.8
8.6
24.7
8.2
22.1
7.3
27.6
8.7
26.5
8.3
23.7
7.5
32.9
9.6
31.7
9.2
28.8
8.4
37.8
10.1
36.4
9.8
33.2
8.9
41.0
10.0
39.3
9.6
35.9
8.8
17
18
19
20
21
22
12.7
9.5
12.5
9.4
11.7
7.7
11.4
7.6
11.3
6.5
10.9
6.3
11.5
6.4
11.1
6.1
10.7
5.5
10.1
5.2
12.2
6.4
11.5
6.0
17.7
8.2
16.8
7.8
15.6
6.8
14.5
6.3
15.1
6.2
13.7
5.7
12.9
5.5
11.4
4.8
18.1
6.9
16.4
6.2
17.0
6.2
15.0
5.5
16.9
6.1
14.8
5.3
23.0
7.7
20.7
6.9
24.6
7.8
22.3
7.0
29.6
8.6
27.0
7.9
33.7
9.0
31.0
8.3
36.0
8.8
33.1
8.1
23
24
25
26
14.8
10.8
14.2
10.6
1312
8.7
12.8
7.3
12.9
7.1
12.1
6.3
13.8
7.2
19.4
9.0
17.6
7.6
17.3
7.2
15.0
6.4
20.3
7.7
19.3
7.1
19.3
7.0
25.3
8.4
27.1
8.5
32.4
9.4
37.1
9.9
40.0
9.8
27
28
9.3
7.7
13.8
10.1
13.0
9.8
12.0
7.9
11.5
6.6
11.7
6.4
10.9
5.6
12.5
6.5
18.0
8.3
15.9
6.9
15.5
6.4
13.4
5.7
18.7
7.1
17.6
6.5
17. 6
6.3
23.6
7.8
25.2
7.9
30.1
8.8
34.2
9.2
36.5
8.9
29
30
119.8
136.9
133.1
301.1 317.8 343.3 373.0 408.4
31
1944
1945
1946
1947
1948
1949
1950
1951
9.0
9.1
9.3
9.1
7.0
7.4
8.1
8.2
12.3
10.3
17.7
12.9
17.2
13.0
16.7
11.1
16.9
9.7
16.9
9.3
14.3
14.5
15.3
15.0
13.3
14.0
12.7
12.8
18.0
15.1
24.6
17.9
25.0
18.8
25.3
16.7
26.9
15.4
9.7
9.8
10.8
10.5
8.8
9.2
7.9
8.0
12.6
10.5
18.2
13.3
17.6
13.2
16.8
11.1
9.6
9.8
10.7
10.5
8.7
9.2
7.8
7.9
12.4
10.3
17.8
13.0
17.1
12.9
9.6
9.8
10.8
10.5
8.7
9.2
7/8
7.8
12.3
10.2
17.6
12.8
9.7
9.8
10.7
10.5
8.7
9.1
7.8
7.9
12.4
10.4
9.7
99
,
10.8
10.6
8.7
9.1
7.4
7.5
9.7
9.9
10.8
10.6
8.7
9.1
8.1
8.2
8.2
8.3
8.1
8.2
9.2
9.0
9.3
9.1
9.2
9.0
8.6
8.7
8.5
8.6
1956
1959
1943
151.4 174.0
1952
1953
1957
1958
181.7 194.2 191.0 215.7 230.6 241.1 235.2 262.6 271.9
276.9
SUEVEY OF CUEEENT BUSINESS
26
May 1968
1
Table 6.—--Profits Before and After Taxes and Profits Before and After Taxes as Percent of Income Originating in Nonfinancial Corporations:
[Billions of dollars]
Line
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1 Corporate profits before taxes, national income accounts (NI A) - . .
2
Percent of corporate income originating
8.9
20.9
6.4
17.2
1.9
6.9
-1.4
-8.0
-1.5
-9.1
1.3
5.9
2.8
10.8
4.7
15.2
5.8
16.1
3.9
12.5
5.3
15.3
8.6
20 9
14.0
25 3
18 9
26 6
3
4
Corporate profits after taxes, national income accounts (NIA) ... .
Percent of corporate income originating.
... __
7.7
18.2
5.6
15.2
1.4
5.2
—1.8 -2.0
—9.9 -12.0
.7
2.9
1.9
7.4
3.4
10.9
4.4
12.1
2.9
9.5
4.0
11.4
5.9
14.3
6.5
11.8
77
10.9
5
Corporate income originating-
42.6
36.9
27.3
16.9
22.7
26.1
31.1
36.4
31.1
35.0
41.2
55.1
71.2
8.6
20.3
7.4
17.6
42.3
6.0
16.4
5.3
14.4
36.6
1.6 -2.0 -2.1
5.8 -11.3 -13.0
1.1 -2.3 -2.6
4.1 -13.3 -16.0
17.4
27.0
16.3
.7
3.3
.0
.1
22.1
2.2
8.7
1.3
5.2
25.5
4.1
13.3
2.7
9.0
30.4
5.1
14.3
3.7
10.3
35.6
3.1
10.2
2.2
7.1
30.3
4.6
13.4
3.2
9.4
34.3
7.9
19.5
5.1
12.7
40.5
13.5
24.7
6.1
11.1
54.6
19.2
26.9
8.0
11.2
71.4
.- .
. .
17.9
Alternative methods of depreciation:
Historical cost valuation:
8.3
19.7
7.1
17.0
42.0
5.7
15.7
5.0
13.7
36.3
•1.3 -2.2 -2.3
4.7 -12.9 -14.5
.8 —2.5 -2.8
3.0 -14.9 -17.5
17.1 16.1
26.7
.5
2.5
-.1
-.7
21.9
2.0
8.1
1.2
4.6
25.4
3.9
12.9
2.6
8.5
30.3
4.9
13.9
3. 5
9.9
35.5
3.0
9.9
2.0
6.7
30.2
4.5
13.1
3.1
9.1
34.2
7.8
19.3
5.1
12.5
40.4
13.4
24.6
6.0
10.9
54.5
19.1
26.8
7.9
11.1
71.3
16
17
18
19
20
Straight line depreciation, F service lives
Profits before taxes _
Percent of income originating.. _ _ . . _ . _ .
_
..
Profits after taxes
Percent of income originating
Income originating- _ _ . _ _ _
.. . Straight line depreciation, .85F service lives
Profits before taxes
.
. ' ._
Percent of income originating
Profits after taxes
Percent of income originating
Income originating
Straight line depreciation, .75F service lives
Profits before taxes
Percent of income originating.
. . ... . .
Profits after taxes
Percent of itip/vnifi originating
Income originating
...
8.1
19.3
6.9
16.5
41.8
5.5
15.2
4.7
13.1
36.1
1.1 -2.4 -2.5
4.0 -13.9 -15.4
.6 -2.7 -2.9
2.3 -16.0 -18.4
26.5
16.9
16.0
.4
2.0
-.3
-1.2
21.8
2.0
7.7
1.1
4.2
25.3
3.8
12.7
2.5
8.3
30.2
4.9
13.8
3.4
9.7
35.4
2.9
9.7
2.0
6.6
30.1
4.5
13.1
3.1
9.1
34.2
7.8
19.3
5.0
12.5
40.4
13.4
24.5
5.9
10.9
54.5
19.1
26.7
7.9
11.1
71.3
21
22
23
24
25
Straight line depreciation, F to .75F service lives
Profits before taxes
.
Percent of income originating
Profits after taxes
Percent of income originating
_
Income originating
8.6
20.3
7.4
17.6
42.3
6.0
16.4
5.3
14.4
36.6
1.6 -2.0 -2.1
5.7 —11.3 -13. 0
1.1 -2.3 -2.6
4.1 -13.3 -16.0
27.0
17.4
16.3
.7
3.3
.0
.1
22.1
2.2
8.7
1.3
5.2
25.5
4.1
13.3
2.7
9.0
30.4
5.1
14.3
3.7
10.3
35.6
3.1
10.2
2.2
7.1
30.3
4.6
13.4
3.2
9.4
34.3
7.9
19.5
5.1
12.7
40.5
13.5
24.7
6.0
11.1
54.6
19.2
26.8
8.0
11.2
71.4
7.8
18.9
6.7
16.1
41.5
5.3
14.8
4.6
12.7
35.9
1.0 -2.2 -2.2
3.9 -13.1 -13.7
.6 -2.6 -2.7
2.2 -15.2 -16.7
26.5
16.2
17.1
.7
3.3
.0
.2
22. 1
2.3
8.8
1.4
5.3
25.6
4.1
13.4
2.8
9.0
30.5
5.1
14.2
3.6
10.2
35.6
3.1
10.3
2.2
7.1
30.3
4.6
13.5
3.3
9.5
34.3
7.9
19.5
5.1
12.7
40.5
13.4
24.5
5.9
10.8
54.5
19.1
26.8^
7.9
11.1
71.4
8.1
19.4
6.9
16.6
41.8
5.6
15.4
4.8
13.3
36.1
1.2 -2.1 -2.1
4.7 -12.1 -13.0
.8 -2.4 -2.6
3.0 -14.1 -16.0
26.7
17.2
16.3
.8
3.7
.1
.5
22.2
2.3
9.1
1.4
5.6
25.6
4.1
13.6
2.8
9.2
30.5
5.1
14.4
3.7
10.4
35.7
3.2
10.4
2.2
7.3
30.4
4.7
13.6
3.3
9.7
34.4
7.9
19.6
5.2
12.8
40.5
13.4
24.6
6.0
11.0
54.6
19.1
26.8
8.0
11.2
71.4
7.6
18.5
6.5
15.7
41.3
5.3
14.9
4.6
12.8
35.9
1.2 -1.8 -2.0
4.5 -10.5 -11.9
.8 -2.2 -2.5
2.9 -12.5 -14.9
16.5
26.7
17.5
.7
3.0
.0
-.1
22.0
2.1
8.1
1.2
4.6
25.4
3.9
12.8
2.6
8.4
30.3
4.5
13.0
3.1
8.9
35.1
2.6
8.6
1.6
5.5
29.8
4.1
12.2
2.8
8.2
33.8
7.3
18.4
4.6
11.5
39.9
12.7
23.5
5.2
9.7
53.8
17.7
25.3
6.6
9.4
70.0
7.4
18.0
6.2
15.2
41.1
5.1
14.4
4.4
12.3
35.7
1.0 -2.0 -2.0
3.9 —11.2 -12.5
.6 —2.3 -2.5
2.2 -13.2 -15.5
16.4
26.5 17.4
.6
2.7
-.1
-.4
22. 0
2.0
7.9
1.1
4.4
25.3
3.8
12.7
2.5
8.3
30.2
4.5
12.9
3.1
8.8
35.0
2.5
8.6
1.6
5.4
29.7
4.1
12.3
2.8
8.2
33.8
7.4
18.5
4.6
11.6
40.0
12.7
23.6
5.2
9.7
53.8
17.8
25.4
6.6
9.4
70.0
6
7
8
9
10
11
12
13
14
15
.
Double-declining balance depreciation, .85F service lives
Profits before taxes
Percent of income originating
Profits after taxes
Percent of income originating
Income ' originating
Double-declining balance depreciation, F to .75F service lives
Profits before taxes
Percent of income originating
Profits after taxes
Percent of income originating
Income originating.
.
26
27
28
29
30
31
32
33
34
35
Current price (1) valuation:
41
42
43
44
45
Straight line depreciation, F service lives
Profits before taxes
Percent of income originating
Profits after taxes
Percent of income originating. _- _
Income originating
Straight line depreciation, .85F service lives
Profits before taxes
Percent of income originating
Profits after taxes
Percent of income originating
Income originating
46
47
48
49
50
Straight line depreciation, F to .75F service lives
Profits before taxes
Percent of income originating
Profits after taxes
Percent of income originating
Income originating
7.6
18.5
6.5
15.7
41.5
5.3
14.9
4.6
12.8
35.9
-2.0
1.2 -1.8
4.5 -10.5 -11.9
.8 —2.2 -2.5
2.9 -12.5 -14.9
16.5
17.5
26.7
.7
3.0
.0
—.1
22.0
2.1
8.1
1.2
4.6
25.4
3.9
12.8
2.6
8.4
30.3
4.5
13.0
3.1
8.9
35.1
2.6
8.6
1.6
5.5
29.8
4.1
12.2
2.8
8.2
33.8
7.3
18.4
4.6
11.5
39.9
12.7
23.5
5.2
9.7
53.8
17.7
25.3
6.6
9.4
70.0
51
52
53
54
55
Double-declining balance depreciation, .85F service lives
Profits before taxes
Percent of income originating
._ _
Profits after taxes
Percent of income originating
Income originating _
7.2
17.6
6.0
14.7
40.9
4.9
13.9
4.2
11.8
35.5
-1.8
1.0 -1.8
3.7 -10.6 -11.1
.5 -2.2 -2.3
2.0 -12.5 -14.1
26.4
16.6
17.5
.9
3.9
.2
.7
22.2
2.3
8.9
1.4
5:4
25.6
4.1
13.3
2.7
9.0
30.4
4.7
13.3
3.3
9.3
35.2
2.8
9.2
1.8
6.1
29.9
4.4
12.9
3.0
8.8
34.1
7.5
18.8
4.8
11.9
40.1
12.7
23.7
5.3
9.8
53.9
17.9
25.6
6.8
9.7
70.2
56
57
58
59
60
Double-declining balance depreciation, F to .75F service lives
Profits before taxes
Percent of income originating
Profits after taxes
Percent of income originating
Income originating. .
7.4
17.9
6.2
15.1
41.1
5.1
14.3
4.4
12.3
35.7
-1.8
1.1 -1.8
4.2 -10.2 -11.0
.7 —2.1 -2.3
2.5 -12.2 -13.9
16.6
17.5
26.6
.9
3.9
.2
.7
22.2
2.3
8.8
1.4
5.3
25.6
4.1
13.3
2.7
9.0
30.4
4.7
13.3
3.3
9.3
35.2
2.7
9.2
1.8
6.0
29.9
4.3
12.8
3.0
8.8
34.0
7.5
18.7
4.8
11.9
40.1
12.7
23.6
5.3
9.8
53.9
17.9
25.5
6.7
9.6
70.2
7.6
18.3
6.4
15.5
41.3
5.3
14.8
4.6
12.7
35.9
-2.0
1.2 -1.8
4.4 -10.5 -12.2
.7 —2.2 -2.5
2.7 -12.5 -15.2
16.4
26.6
17.5
.7
3.1
.0
-.1
22.0
2.1
8.2
1.2
4.7
25.4
3.9
12.9
2.6
8.5
30.3
4.7
13.2
3.2
9.2
35.2
2.7
9.1
1.8
6.0
29.9
4.3
12.7
2.9
8.7
34.0
7.5
18.8
4.8
12.0
40.1
12.8
23.8
5.4
9.9
53.9
17.8
25.4
6.7
9.5
70.1
7.3
17.8
6.2
15.0
41.0
5.1
14.3
4.4
12.2
35.7
1.1 —1.7 -1.8
4.2 -10.0 -11.0
.7 -2.1 -2.3
2.5 —11.9 -14.0
16.6
26.6
17.6
.9
4.1
.2
.9
22.3
2.3
9.1
1.4
5.6
25.6
4.1
13.5
2.8
9.1
30.5
4.8
13.6
3.4
9.6
35.3
^2.9
9.7
2.0
6.5
30.1
4.5
13.2
3.1
9.2
34.2
7.7
19.0
4.9
12.2
40.2
12.8
23.8
5.4
10.0
54.0
18.0
25.6
6.8
9.7
70.2
36
37
38
39
40
_
.
- _.
\
Current price (2) valuation:
61
62
63
64
65
Straight line depreciation, .85F service lives
Profits before taxes
.
Percent of income originating __ .
Profits after taxes
Percent of income originating
.
Income originating..
66
67
68
69
70
Double-declining balance depreciation, .85F service lives
Profits before taxes
Percent of income originating
Profits after taxes
Percent of income originating
Income originating.
_
1. See notes to table 2.
_._^__._
_
SURVEY OF CURRENT BUSINESS
May 1968
27
National Income Accounts Definitions Compared With Profits and Income Originating Based on Alternative Methods of Depreciation, 1929-66
[Billions of dollars]
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
Line
i
22.8
26.5
21.9
24.9
17.3
21.5
16.8
19.9
23.2
22.5
29.6
25.1
26.7
23.7
33.4
25.9
37.8
25.4
34.6
22.5
33.8
20.7
31.6
19.9
40.2
22.3
39.0
20.4
38.1
19.2
33.3
17.4
42.6
19.7
40.1
18.1
40.1
17.9
44.8
18.4
48.3
18.8
54.9
19.8
62.8
20.7
69.1
20.6
1
2
9.0
10.5
9.3
10.6
7.0
8.8
8.1
9.6
12.3
12.0
17.7
15.0
17.2
15.3
16.7
13.0
16.9
11.3
16.9
11.0
15.4
9.4
16.0
10.0
20.4
11.4
19.3
10.1
19.3
9.7
17.1
8.9
21.9
10.2
20.7
9.3
20.4
9.1
24.0
9.9
25.6
10.0
30.7
11.1
35.3
11.6
39.0
11.6
3
86.1
88.0
80.1
84.4
102.9
118.0
112.8
128.8
148.9
153.7
163.3
159.2
179.7
191.5
198.8
191.3
215.5
221.7
224.3
243.0
256.4
277.9
303.8
335.8
5
23.5
27.0
9.7
11.2
86.8
23.4
26.1
10.8
12.0
89.5
19.0
23.2
8.8
10.7
81.9
16.5
19.6
7.9
9.4
84.2
23.4
22.7
12.6
12. 2
103. 2
30.0
25.3
18.2
15.3
118.5
27.1
24.0
17.6
15.6
113.1
33.5
26.0
16.8
13.1
128.9
38.3
25.7
17.3
11.6
149.3
35.3
22.9
17.6
11.4
154.4
35.2
21.4
16.8
10.2
164.8
34.0
21.0
18.3
11.3
161.5
43.9
23.9
24.2
13.2
183.5
43.0
22.0
23.3
11.9
195.5
42.7
21.0
23.9
11.7
203.3
37.8
19.3
21.6
11.1
195.8
47.5
21.5
26.8
12.2
220.4
45.0
19.9
25.5
11.3
226. 6
44.8
19.6
25.1
11.0
229.1
51.8
20.7
31.0
12.4
250.0
55.3
21.0
32.6
12.4
263.4
62.0
.21.7
37.8
13.3
284.9
70.1 76.2
22.5
22.2
42.6
46.2
13.5
13.7
311. 1 342.9
6
7
8
9
10
23.4
27.0
9.6
11.1
86.7
23.3
26.1
10.7
12.0
89.4
19.0
23.2
8.7
10.7
81.8
16.4
19.5
7.8
9.3
84.1
23.2
22.6
12.4
12.0
103. 0
29.7
25.1
17.8
15.1
118. 1
26.6
23.6
17.1
15.2
112.7
33.0
25.7
16.3
12.7
128.3
37.6
25.3
16.7
11.2
148.7
34.6
22.5
16.9
11.0
153.7
34.4
21.0
16.0
9.8
164.0
33.1
20.6
17.4
10.8
160. 7
42. 9
23.5
23.2
12.7
182.5
41.9
21.5
22.2
11.4
194.4
41.4
20.5
22.6
11.2
202.1
36.5
18.8
20.3
10.4
194.5
46.1
21.0
25.4
11.6
219.0
43.5
19.3
24.1
10.7
225.1
43.2
19.0
23.6
10.4
227.5
50.1
20.2
29.3
11.8
248.3
53.5
20.5
30.8
11.8
261.6
60.1 68.0
22.0
21.2
40.5
35.9
13.1
12.7
283.0 309.0
73.9
21.7
43.9
12.9
340.6
11
12
13
14
15
23.4
27.0
9.6
11.1
86.7
23.4
26.1
10.8
12.0
89.5
19.0
23.2
8.7
10.7
81.8
16.4
19.5
7.8
9.2
84.1
23.1
22.4
12.3
11.9
102.8
29.4
25.0
17.6
14.9
117.9
26.3
23.4
16.8
14.9
112.3
32.5
25.4
15.8
12.4
127. 9
37.1
25.0
16.1
10.9
148.1
34.0
22.2
16.3
10.6
153.1
33.8
20.7
15.4
9.4
163.3
32.4
20.3
16.7
10.4
159.9
42.1
23.2
22.4
12.3
181.7
41.0
21.2
21.3
11.0
193.5
40.4
20.1
21.6
10.8
201.1
35.5
18.3
19.3
10.0
193.5
45.0
20.7
24.3
11.2
218.0
42.3
18.9
22.9
10.2
223.9
42.0
18.6
22.3
9.8
226.2
48.8
19.8
28.0
11.3
247. 0
52.2
20.0
29.4
11.3
260.3
58.6
20.8
34.4
12.2
281. 6
66.4
21.6
39.0
12.7
307. 4
72.2
21.3
42.1
12.4
338.9
16
17
18
19
20
23.4
27.0
9.7
11.1
86.8
23.3
26.1
10.7
12.0
89.4
18.9
23.2
8.7
10.7
81.8
16.4
19.5
7.8
9.3
84.1
23.3
22.6
12.4
12.1
103.0
29.8
25.2
17.9
15.2
118.2
26.7
23.7
17.2
15.3
112.7
33.0
25.7
16.3
12.7
128.4
37.6
25.3
16.7
11.2
148.7
34.5
22.5
16.8
10.9
153.6
34.3
20.9
15.9
9.7
163.8
32.9
20.5
17.2
10.7
160.4
42.6
23.4
22.8
12.5
182.1
41.3
21.3
21.7
11.2
193. 9
40.7
20.2
21.9
10.9
201.4
35.6
18.4
19.5
10.1
193.6
45.0
20.6
24.3
11.2
218.0
42.2
18.8
22.7
10.2
223.8
41.6
18.4
21.9
9.7
225.9
48.3
19.6
27.5
11.2
246.5
51.5
19.8
28.7
11.1
259.6
57.8
20.6
33.7
12.0
280.8
65.5
21.4
38.1
12.4
306.6
71.3
21.1
41.2
12.2
337.9
21
22
23
24
25
23.5
27.1
9.7
11.2
86.8
23.4
26.2
10.8
12.1
89.5
18.9
23.1
8.7
10.6
81.8
16.1
19.2
7.4
8.9
83.7
22.3
21.9
11.5
11.3
102.1
28.3
24.3
16. 5
14.1
116.8
25.0
22.5
15. 5
14.0
111.0
31.2
24.6
14.5
11.5
126.6
35.8
24.4
14.9
10.1
146.9
32.8
21.6
15.1
9.9
151.9
32.5
20.1
14.1
8.7
162.0
31.1
19.6
15.4
9.7
158.6
40.8
22.6
21.0
11.6
180.3
39.5
20.6
19.8
10.3
192.0
38.8
19.5
20.0
10.0
199.5
33.9
17.7
17. 7
9.2
191.9
43.5
20.1
22.8
10.6
216.5
40.7
18.3
21.3
9.6
222.3
40.5
18.0
20.8
9.3
224.8
47.4
19.3
26.7
10.9
245.6
50.7
19.6
27.9
10.8
258.8
57,0
20.4
32.8
11.7
280. 0
64.4
21.1
37.0
12.1
305.5
69.8
20.7
39.7
11.8
336.4
26
27
28
29
30
23.5
27.1
9.7
11.2
86.9
23.4
26.2
10.8
12.1
89.5
18.9
23.1
8.7
10.6
81.8
16.1
19.2
7.4
8.9
83.7
22.4
21.9
11.6
.11.3
102.2
28.4
24.3
16.6
14.2
116.9
25.1
22.6
15.6
14.0
111. 1
31.2
24.6
14.5
11.5
126.6
35.8
24.4
14.8
10.1
146.8
32.7
21.5
14.9
9.8
151. 8
32.3
20.0
13.9
8.6
161. 8
30.8
19.4
15.1
9.5
158.3
40.3
22.4
20.5
11.4
179.9
38.9
20.3
19.2
10.0
191.4
38.0
19.1
19.2
9.7
198.7
33.0
17.3
16.8
8.8
190.9
42.4
19.7
21.7
10.1
215.3
39.3
17.8
19.9
9.0
220.9
38.9
17.4
19.3
8.6
223.2
45.7
18.7
24.9
10.2
243.9
48.8
19.0
26.1
10.2
257.0
55.0
19.8
30.9
11.1
278.0
62.3
20.5
34.8
11.5
303.3
67.4
20.2
37.4
11.2
334.1
31
32
33
34
35
21.9
25.7
8.1
9.5
85.2
21.8
24.8
9.2
10.5
87.9
17.4
21.7
7.2
9.0
80.3
14.5
17.6
5.9
7.1
82.2
20.5
20.5
9.7
9.7
100.3
26.5
23.1
14.7
12.8
115.0
23.6
21.5
14.1
12.8
109.6
29.9
23.9
13.2
10.6
125.3
33.9
23.4
12.9
8.9
144. 9
30.8
20.6
13.1
8.7
149.9
30.7
19.2
12.3
7.7
160.3
29.7
18.9
14.0
8.9
157.2
39.5
22.0
19.7
11.0
179.0
37. 6
19.8
18.0
9.4
190.2
36. 5
18.5
17.7
9.0
197.1
31.6
16.7
15.4
8.1
189.6
41.2
19.2
20.5
9.6
214.2
39.1
17.7
19.6
8.9
220.7
39.3
17.6
19.6
8.8
223.6
46.5
19.0
25.8
10.5
244.7
50.4
19. 5
27.6
10.7
258.5
57.1
20.4
32.9
11.8
280.1
65.2
21.3
37.8
12.3
306. 3
71.0
21.0
41.0
12.1
337.7
36
37
38
39
40
22.0
25.8
8.2
9.6
85.3
21.9
24.9
9.3
10.6
88.0
17.6
21.9
7.3
9.1
80.4
14.6
17.7
6.0
7.2
82.2
20.6
20.5
9.7
9.7
100.3
26.4
23.0
14.6
12.7
114.9
23.4
21.4
13.9
12.7
109.4
29.6
23.7
12.9
10.4
125.0
33.5
23.2
12.6
8.7
144.5
30.4
20.3
12.7
8.5
149.5
30.3
19.0
11.9
7.5
159.9
29.2
18.6
13.5
8.6
156.7
38.9
21.8
19.1
10.7
178.4
36.9
19.5
17.2
9.1
189.5
35.7
18.2
16.8
8.6
196.3
30.7
16.3
14.5
7.7
188.7
40.3
18.9
19.7
9.2
213.3
38.1
17.4
18.7
8.5
219.8
38.3
17.2
18.6
8.4
222.6
45.5
18.7
24.7
10.1
243.7
49.3
19.1
26.5
10.3
257.4
55.9
20.0
31.7
11.4
278.9
63.8
20.9
36.4
11.9
304.9
69.4
20.7
39.3
11.7
336.1
41
42
43
44
45
21.9
25.7
8.1
9.5
85.2
21.8
24.8
9.2
10.4
87.9
17.4
21.7
7.1
8.9
80.2
14.4
17.6
5.8
7.0
82.1
20.4
20.3
9.5
9.5
100.1
26.2
22.9
14.4
12.5
114.7
23.1
21.2
13.6
12.5
109.1
29.3
23.5
12.6
10.1
124.7
33.1
23.0
12.2
8.4
144.1
29.9
20.1
12.2
8.2
149.0
29.7
18.7
11.3
7.1
159.3
28.5
18.2
12.8
8.2
156.0
38.0
21.4
18.2
10.3
177.5
35.8
19.0
16.1
8.5
188.3
34.3
17.6
15.5
7.9
194.9
29.1
15.6
13.0
6.9
187.1
38.5
18.2
17.8
8.4
211.5
36.0
16.6
16.6
7.6
217.6
35.9
16.3
16.2
7.4
220.2
42.9
46.5
17.8
18.3
22.1 23.7
9.2
9.3
241. 1 254.6
52.9
19.2
28.8
10.4
275.9
60.6
65.9
20.1
19.8
33.2
35.9
11.0
10.8
301. 7 332.6
46
47
48
49
50
22.4
26.1
8.6
10 0
85^7
22.3
25.3
9.7
11.0
88! 4
17.8
22.1
7.6
94
80!7
14.5
17.7
5.9
72
82'. 2
20.0
25.5
20.1 22.3
9.2
13.6
92
99! 8 113.9
22.2
20.5
12.7
28.4
22.9
11.7
32.3
22.5
11.3
29.3
19.7
11.5
29.1
18.3
10.7
a 7
35.3
18.8
15.6
123.8
143.3
148.4
158.6
187.8
33.9
17.4
15.1
7. 7
194.5
29.1
15.5
12.9
6. 9
187.1
38.8 36. 4
18.3 16.7
18.1 17.0
8. 6
7.8
211.8 218.0
36.6
16.6
16.9
7. 7
220.9
43.8
47.4
18.1 18.6
23.0
24.6
9. 5
9. 6
242.0 255.5
61.1 66.0
53.7
20.2
19.9
19.4
33.7 36.0
29.6
10. 7 11. 1 10. 8
276.7 302.1 332.7
51
52
53
£A
108.2
27.9
37.4
21.2
17.9
12.2
17.7
Q
lU.'U
7. y in n
155.4 177.0
22.2
26.0
8.5
9.9
85. 6
22.2
25.1
9.6
10.8
88.3
17.6
21.9
7.4
9.2
80.5
14.4
17.5
5.7
7.0
82.0
19.9
20.0
9.1
9.1
99.6
25.3 22.0
22.2
20. 4
13.4
12.5
11.8' 11.6
113.7 108.0
28.1
22.8
11.4
9.3
123. 5
31.9
22.3
10.9
7.6
142.9
28.8
19.5
11.1
7.5
147.9
28.5
18.0
10.1
6.4
158.0
27.1
17.5
11.5
7.4
154.7
36.5
20.7
16.8
9.5
176.1
34.2
18.3
14.5
7.8
186.7
32.5
16.8
13.7
7.1
193.2
27.6
14.8
11.4
6.1
185.5
37.1 34.4
17.6
15.9
16.4
15.0
7.8
6.9
210.0 216.0
34.5
15.8
14.8
6.8
218.8
41.5
17.3
20.7
8.7
239.7
51.2
18.7
27.0
9.9
274.2
22.0
25.8
8.2
9.6
85.3
21.9
24.9
9.3
10.6
88.0
17.6
21.9
7.3
9.1
80.4
14.6
17.8
6.0
7.3
82.3
20.6
20.6
9.8
9.8
100.4
26.7
23.2
14.8
12.9
115.1
23.7
21.6
14.2
12.9
109.7
29.9
23.9
13.2
10.5
125.3
33.8
23.3
12.8
8.8
144.8
30. 6
20.4
12.9
8.6
149.7
30.5
19.1
12.1
7.6
160.1
29.5
18.8
13.8
8.8
157.0
39.2
21.9
19.4
10.9
178.8
37.3
19.6
17.6
9.3
189.8
36.1
18.3
17.3
8.8
196.7
31.2
16.5
15.0
8.0
189.2
41.0
38.8 39.0
19.1 17.6
17.5
20.3 19.3
19.3
9.5
8.6
8.8
213.9 220.4 223.2
22.4
26.1
8.6
10.0
85.7
22.3
25.2
9.7
10.9
88.4
17.8
22.1
7.6
9.4
80.7
14.6
17.7
5.9
7.2
82.2
20.1
20.1
9.3
9.3
99.8
25.7
22.5
13.8
12.1
114.1
22.5
20.7
13.0
12.0
108.5
28.6
23.1
12.0
9.6
124. 0
32.5
22.6
11.5
8.0
143.5
29.4
19.8
11.7
7.9
148.5
29.3
18.4
10.9
6.8
158.8
28.2
18.1
12.5
8.0
155.7
37.7
21.3
18.0
10.1
177.3
35.6
18.9
15.9
8.5
188.1
34.3
17.6
15.5
7.9
194.9
29.6
15.8
13.4
7.1
187.5
39.4
18.5
18.7
8.8
212.3
0. /
ft Q
0. O
37.0
16.9
17.6
8.0
218.6
37.2
16.8
17.6
7.9
221.5
4
04
55
63.1
19.1
33.1
10.0
329.8
56
57
58
59
60
46.1 49. 9
18.9
19.3
25.3
27.1
10.4
10.5
244.3 258. 0
70.1
64.5
56.5
21.1 20.8
20.2
37.1 40.0
32.4
12.1
11.9
11.6
279.5 305.5 336.7
61
62
63
64
65
44.4
18.3
23.6
9.7
242.6
54.3 61.7
20.4
19.6
30.1 34.2
11.3
10.9
277.2 302.7
66
67
68
69
70
45.0
17.8
22.3
8.8
253.1
47.9
18.7
25.2
9.8
256.0
58.4
19.5
31.0
10.3
299.4
66.6
20.0
36.5
11.0
333.2
SURVEY OF CURRENT BUSINESS
28
such ratios are presented in table 6 on
a before- and after-tax basis. They result in essentially the same findings as
comparisons of ratios of profits to corporate product.
Technical Note
Pending further study, no allowance
was made for two factors that would
probably raise the pre-World War II
estimates of profits. These factors are
the use of constant percentages prior to
1938 for allocating new investment between corporate and noncorporate business in computing the alternative depreciation measures and the exclusion from
NIA capital consumption allowances of
railroad retirements of structures prior
to 1942.
As discussed in the appendix to part
I, the percentages used for allocating
new investment by corporate and noncorporate business were held constant
prior to 1938. Actually they can be expected to decline at some point as one
moves back into the 1800's. Estimates
by Raymond W. Goldsmith show the
overall corporate percentage as being
roughly constant back to about 1900 and
then declining as one moves farther
back.11
There may be a partially offsetting
factor involved in determining the appropriate corporate percentages. Neither the constant corporate percentages
used in the study nor Goldsmith's allow
explicity for the effect of transfers of
used assets between corporate and noncorporate business. The implicit assumption is that net transfers are zero.
During the late 1800's and early 1900's,
when the corporate form of organization was gaining in favor, there may
have been a net transfer of used assets
to the corporate sector. If so, the appropriate corporate percentages would be
larger than those for new investment.
Preliminary calculations based on
Goldsmith's percentages reduce the 1929
11. Raymond W. Goldsmith, A Study of Saving
in the United States^ Vol. I, Princeton University
Press, 1955.
depreciation estimates valued at historical cost by about $100 million and
those valued at current prices by about
$200 million. Profits are increased
correspondingly.
In the national accounts, the treatment of railroad structures in capital
consumption allowances prior to 1942 is
inconsistent with the definition of fixed
gross private domestic investment. Investment in railroad structures is included in the investment data, but no
allowance is included in capital consumption allowances for depreciation
on the structures. (Prior to 1942, retirements of structures were charged by
railroads directly to operating expenses
and were not reported as depreciation
to IRS.)
The computed depreciation variants
in part II include depreciation on railroad structures prior to 1942 and are
consistent with the definition of capital
implied by the fixed gross private domestic investment figures in the national
accounts.
The result of the exclusion of railroad retirements from NIA capital
consumption is that the alternative
profits series obtained by deducting
computed depreciation from the sum of
NIA capital consumption and profits
are too low prior to 1942 by the amount
of retirements charged as operating expenses. Retirements in 1929 were shown
as about $200 million in reports to the
Interstate Commerce Commission.12 It
is not known how closely this figure corresponds to retirements charged as expenses by railroads on IRS tax returns
in 1929.
With adjustments of the magnitudes
discussed above, the computed beforetax profits shares would be raised about
0.7 or 0.8 percentage points in 1929. The
shares based on depreciation computed
with gradually declining service lives
and valued at historical cost would
show slight declines from 1929 to 196566, and the others would increase less
than shown in table 4.
12. U.S. Interstate Commerce Commission, Statistics of Railways in the United States, 1929.
CHART 9
Depreciation Valued at Current Prices as Percent of
Historical Cost Depreciation
90
80
1929
See notes on table 2.
U.S. Department of Commerce, Office of Business Economics
U. S. GOVERNMENT PRINTING OFFICE : L968 O - 297-178
May 1968
55
60
65
CURRENT BUSINESS STATISTICS
JLHE STATISTICS here update series published in the 1967 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS* That volume (price $2.50) provides a description of each series, references to sources of earlier figures, and historical data
as follows: For all series, monthly or quarterly, 1963 through 1966 (1956-66 for major quarterly series), annually, 1939-66; for selected series,
monthly or quarterly, 1947-66 (where available). Series added or significantly revised after the 1967 BUSINESS STATISTICS went to press are indicated
by an asterisk (*) and a dagger (f), respectively; certain revisions for 1966 issued too late for inclusion in the 1967 volume appear in the monthly
SURVEY beginning with the September 1967 issue. Also, unless otherwise noted, revised monthly data for periods not shown herein corresponding
to revised annual data are available upon request.
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.
1965
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
| 1966
1967
I
II
|
1967
1966
1965
III
IV
I
|
II
III
| IV
I
II
1968
III
IV
I
Annual total
Seasonally adjusted quarterly totals at annual rates
GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
Gross national product, total
•__
_ bil. $
683.9
743.3
785.0
662.7
675.4
690 0
708 4
725 9
736 7
748 8
762 1
766 3
775 1
791.2
807.3
' 826. 7
do
433.1
465.9
491. 7
420.2
428.1
436.4
447.8
458.2
461.6
470.1
473.8
480.2
489.7
495.3
501.8
'..518. 7
do
do
do_
66 0
29 9
27.0
70 3
29.8
29.9
72 1
29.3
32.0
65 2
30 4
25.8
64 2
29 2
26.1
66 1
29 8
27.3
68 6
30 3
28.9
71 6
31 4
29 4
68 2
28 5
29 1
70 9
29 8
30 6
70 6
29 6
30 6
69 4
27 3
31 4
72 5
29 7
31 9
72 7
29 9
32.1
73 8
30 1
32.6
do
do
do
_ _ _ _ do-
191 2
36.1
99 0
15 1
207. 5
40.3
106.7
16.2
217.5
42.8
110 6
17.5
184 6
34 6
95 6
14 3
189.8
35.6
98 3
15.1
192 4
36.2
99 4
15 3
198.0
37.8
102 5
15 7
203 2
39 5
105 2
15 8
207 1
39 8
107 0
16 2
209 5
41 0
107 3
16 3
210 3
40 8107 2
16 6
214 2
41 5
109 3
17 1
217 2
43 2
110 1
17 5
218.5
43.7
110 9
17. 5
220 3 r 228. 1
43. 1 '45.4
112 2 r 115 1
17.8
' 18.6
do
_do
do
do_
175 9
25 7
63.6
12.6
188 1
27. 0
67. 1
13.6
202 1
28 2
71.3
14.7
170 4
24 7
61 9
12 0
174 2
25 5
63 2
12.5
177 8
26 1
64 2
12.8
181 2
26 5
65.3
13.1
183 5
26 1
66 2
13. 2
186 3
26 9
66 5
13.5
189 8
27 4
67 4
13. 7
192 9
27 7
68 5
14 0
196 6
27 8
69 6
14 4
200 0
28 1
70 6
14 6
204 1
28.1
71.9
14.8
207 7
28 8
73.3
15.1
r
do
107.4
118.0
112.1
105.1
105.1
108.2
112.3
115.2
118.5
116.4
122.2
110.4
105. 1
112. 2
120.8
«• 118.0
98 0
71 1
25.1
46.0
27 0
26.4
9.4
84
104 6
80 2
27.9
52.3
24 4
23.8
13.4
13 7
107 0
82 6
26.8
55.7
24 4
23 9
5.2
48
94 4
67 3
23 1
44. 1
27 2
26 6
10.6
10 1
96 3
69 3
24 7
44.6
27 0
26 5
8.8
79
98 8
71 9
25 1
46.8
26 9
26 4
9.4
79
102 4
75 7
27 3
48.3
26 8
26 2
9.9
87
105 3
78 3
28 3
50.0
27 0
26 5
9.9
96
104 5
78 7
27 5
51.2
25 8
25 3
14.0
14 4
104 9
81 2
28 2
53.1
23 7
23 2
11.4
12 0
103 7
82 8
27 7
55.1
20 9
20 4
18.5
19 0
103 3
81 9
27 7
54.2
21 4
20 9
7.1
73
104 6
81 5
26 3
55.2
23 1
22 5
.5
6
108.4
82.8
26.6
56.2
25.6
25.0
3.8
3.4
111.6
84.0
26.7
57.3
27.6
27. 0
9.2
7.7
'115.4
87.2
' 28. 5
'5H.7
'28. 2
'27.6
'2.7
'1.8
do_
do
do___
6.9
39 1
32.2
5.1
43 0
37.9
4.8
45 3
40 6
6.1
35 1
28 9
8.2
40 7
32 6
7.4
40 3
32 9
61
40 5
34 4
6.1
42 0
36 0
5.4
42 5
37 1
4.6
43 7
39 0
4.3
44 0
39 7
53
45 3
39 9
5.3
45 1
39.8
5. 4
45.6
40.2
3.0
45.4
42 .4
'1.7
'47.2
'45.5
Govt. purchases of goods and services, total__do_
Federal
_
_ _ __do __
National defense
do
State and local
_ __
_ _
do
136.4
66.8
50 1
69 6
154.3
77.0
60 5
77.2
176.3
89 9
72 5
86 4
131.3
64 3
48 4
66 9
133.9
65 4
49 2
68 6
138.1
67.6
50 3
70 4
142.3
69 8
52 4
72 5
146.5
72 1
55 1
74 3
151.2
74.9
58 4
76 2
157.7
79.5
63 0
78.1
161.7
81 5
65 6
80 2
170.4
87 1
70 2
83 3
175.0
89.5
72 5
85.4
178.2
90.9
73.3
87.4
181. 7
92.2
74.2
89.5
'188.3
' 96. 2
'76.7
. ' 92. 1
By major type of product:
Final sales, total
Goods, total
_ _
Durable goods
_
Nondurable goods. _ _ _
Services
•
Structures _
: do___
do_ _
do
do. _
do
_do_ _
674.5
337.2
132 8
204.4
262 9
74.4
729.9
366.2
144 7
221.5
287 2
76.5
779 8
390 8
155 7
235 1
311 2
77 8
652 0
325 9
129 6
196 3
254 6
71.6
666 5
332 8
130 0
202.9
260 1
73.6
680 6
340 2
133 9
206. 3
266 0
74.4
698 5
349 9
137 9
212 0
271 0
77 6
716 0
359 6
143 2
216 4
276 6
79.9
722 6
361 7
141 6
220 1
283 5
77.4
737 4
370 3
145 8
224.5
291 6
75.5
743 6
373 2
148 3
224 9
296 9
73.5
759 2
380 9
150 5
230 5
303 1
75.2
774.6
391.6
156.0
235.5
307.8
75.2
787. 4
394.9
157. 9
237.0
313. 5
79.0
798.1
396.0
158. 6
237. 4
320.3
81.8
' 824. 0
412.5
165.1
247.4
326.7
84.8
_ do __
do
do
9.4
6.7
27
13.4
9.9
35
5.2
27
25
10.6
87
2 0
8.8
70
18
9.4
7.1
23
9.9
5.0
49
9.9
74
2 5
14.0
9.7
4 3
11.4
9.9
15
18.5
12.8
57
7.1
34
37
.5
—.6
1.1
3.8
3.5
.3
9.2
4.5
4.7
'2.7
1.2
1.5
Personal consumption expenditures, total
Durable goods total 9
Automobiles and parts
_ _ _ _
Furniture and household equipment.Nondurable goods, total 9
Clothing and shoes
Food and beverages
Gasoline and oil
Services total 9
Household operation
Housing
Transportation
_
_.
.
Gross private domestic investment, total
Fixed investment
Nonresidential
Structures
_
_
Producers' durable equipment
Residential structures
_
Nonfarm
Change in business inventories
Nonfarm
do
do
do
do
do
_ _do_
do
do
Net exports of goods and services
Exports
Imports
_ _
_
Change in business inventories
Durable goods
_
Nondurable goods
r
r
78 4
33. 2
'34.2
212. 1
29.1
'75.0
r 15. 5
GNP in constant (1958) dollars
616.7
652.6
669.3
601.5
609.7
620.7
634.4
645.4
649.3
654.8
661.1
660.7
664. 7
672.0
679. 6
689.7
Personal consumption expenditures, total. . _ .do. .... 398.4
418.0
430.1
389.1
394. 1
400.7
409. 9
416.2
415.2
420.4
420.4
424.2
430.6
431.5
434. 0
444.7
66.4
178 9
153 2
71.3
187 7
159 1
72.1
193 0
165 0
65.0
174 7
149 4
64.1
178 0
152.0
66. 8
179 3
154. 6
69.5
183 6
r
S6. 8
73.0
185 8
157.3
69.3
187 7
158.2
71.9
188 8
159.8
71.1
188 4
160.9
69.7
191 8
162 6
72.9
193.6
164.1
72. 7
192.8
166.0
73.0
193.6
167. 4
77.1
198.6
169.0
do_ _
98.0
105.6
96.9
95.9
95.9
98.3
101. 6
104.0
106.5
103.6
108. 4
96.9
91.3
96.4
103.0
99.5
do
do
do
do
89.1
66 0
23 2
8.8
93
72
20
12
0
g
2
6
92 1
73 0
19 1
48
86
62
23
9
6
9
7
3
87.9
64 5
23 4
8.0
89.6
66 7
23 0
8.7
92.4
69 7
22 6
9.2
94.5
71 8
22 8
9.5
93.1
71 7
21 4
13.4
93.0
73 6
19 4
10.6
91.2
74 2
17 0
17.2
90 2
73 0
17 3
6.7
90.9
72. 6
18.3
.4 -
94.4
92.9
•73.3
73.2
19.7 '-21.0
;
.8,7
. 3.5:
96.9
75.5
21.4
2.5
4.4
3.6
5.2
6.8
6,4
5.6
5.4
4.8
4.1
3.2
4.1
4.1
114.3
124.5 138.7
74 1
57 8
64 7
56.4
59.9
64.6
9 Includes data not shown separately.
111.3
56 3
551 0
112.9
57 1
55.8
115.3
58 5
56.7
117.4
59 3
58.0
119.9
61 2
58.7
122. 7
63 4
59.4
126. 6
66 4
60.1
129. 1
67.8
61.3
135.5
72 3
63,2
138. 7
74. 4
64. 3
Gross national product, total
__bil. $__
Durable goods
Nondurable goods
Services. _ _ _ _ _ _
_____do_ _
do
do
Gross private domestic investment, total.
Fixed investment
_ _
Nonresidential
Residential structures
Change in business inventories... _ _
Net exports of goods and services
do_.__
Govt. purchases of goods and services, total. _do____
Federal.._
do
State and local__
do
r
Revised.
* Preliminary.
297-178 0 - 6 8 - 3
6. 0
: 4-2
139.9
75. 1
64. 9
1. 9
.6
140.7
74.7
66.0
145.0
77. 9
67.1
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through 1966 1965 | 1966 | 1967
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
Annual total
III
IV
I
II
1968
1967
1966
1965
II
May 196?
III
IV
II
I
III
IV
II
I
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
National income, total. _ . _
. bil. $
562.4
616.7
650.2
555.3
566.5
582.8
600.3
610.4
622.1
634.1
636.4
641.6
653.4
669.3 P686.2
do
393.9
435.7
469.7
388.6
397.2
408.4
420.8
430.7
441.2
450.2
459.1
463.4
472. 6
483.6
'497.6
do
do
do
do
__do
359.1
289.8
12.1
57.1
34.9
394.6
316.7
14.7
63.2
41.1
423.8
337.5
16.4
69.8
45.9
354.2
286.2
11.7
56.3
34.5
362.0
292.1
12.1
57.8
35.2
372.4
300.0
13.1
59.4
36.0
381.3
306.9
13.6
60.7
39.5
390.2
313.8
14.2
62.2
40.5
399.6
320.1
15.1
64.3
41.6
407.4
326.1
15.8
65.6
42.7
414.7
331.4
16.1
67.3
44.4
418.3
333.2
16.2
68.9
45.2
426.2
339.4
16.3
70.6
46.4
435.9
346.2
17.3
72.5
47.6
r447.6
••355. 9
17.6
74.0
50.0
do
do
do
do
_
56.7
41.9
14.8
19.0
59.3
43.2
16.1
19.4
58.4
43.6
14.8
20.1
56.7
41.7
15.0
18.9
57.2
42.0
15.2
19.1
57.8
42.5
15.3
19.2
60.0
42.8
17.1
19.2
59.3
43.3
16.0
19.3
59.2
43.3
15.9
19.4
58.6
43.4
15.1
19.6
57.8
43.2
14.6
19.8
57.8
43.4
14.3
20.0
58.8
43.8
15.0
20.2
59.3
44.1
15.2
20.4
59.9
44.4
15.5
20.6
74.9
82.2
79.6
73.4
74.9
78.7
81.1
81.3
81.9
84.6
78.1
78.3
79.2
82.7
*84.3
9.5
72.4
42.7
18.8
23.9
9.6
75.0
44.4
19.2
25.3
9.6
68.5
39.6
18.4
21.1
9.5
68.8
38.9
17.8
21.1
9.6
69.6
38.2
17.7
20.5
10.0
72.7
40.6
18.3
22.4
P10.5
*73.8
Compensation of employees, total.—
Wages and salaries total
Private
_
Military
Government civilian
Supplements to wages and salaries
Proprietors' income, total 9
Business and professional 9
Farm
_ _ _
Rental income of persons
„
Corporate profits and inventory valuation adjustment, total _
bil $
By broad industry groups:
Financial institutions
do
Nonfinancial corporations total
do
Manufacturing total
do
Nondurable goods industries
do
Durable goods industries
do
Transportation, communication, and public
utilities
bil $
All other industries
do
8.4
66.5
38.7
16.5
22.2
9.3
72.9
43.1
18.7
24.4
9.7
69.9
39.3
18.0
21.3
8.4
65.0
37.7
16.0
21.6
8.4
66.5
38.6
16.5
22.1
8.6
70.0
41.0
17.4
23.7
8.9
72.2
42.7
18.3
24.3
9.0
72.2
42.5
18.5
24.0
11.2
16.6
11.9
18.0
12.0
18.6
10.9
16.5
11.2
16.7
12.0
17.0
11.7
17.8
12.0
17.8
11.8
17.9
12.0
18.6
11.7
17.3
11.9
18.0
12.1
19.3
12.3
19.8
Corporate profits before tax total
Corporate profits tax liability
Corporate profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment
Net interest
76.6
31.4
45.2
19.8
25.4
-1.7
17.9
83.8
34.5
49.3
21.5
27.8
-1.6
20.2
80.7
33.2
47.5
22.8
24.7
-1.2
22.4
75.6
30.9
44.6
19.4
25.2
-2.1
17.6
75.8
31.1
44.8
20.2
24.6
-.9
18.2
80.8
33.1
47.7
20.9
26.8
-2.2
18.8
83.7
34.5
49.2
21.4
27.8
-2.6
19.3
83.6
34.5
49.2
21.6
27.6
-2.3
19.8
84.0
34.6
49.4
21.6
27.8
-2.2
20.4
83.9
34.6
49.3
21.2
28.2
.7
21.1
79.0
32.5
46.5
22.2
24.2
-.8
21.6
78.9
32.5
46.5
23.1
23.4
-.7
22.1
80.0
32.9
47.1
23.4
23.6
-.8
22.7
85.1
35.0
50.1
22.4
27.6
-2.3
23.3
bil. $__ 537.8
do
65.6
do
472.2
do
445.0
do
27.2
584.0
75.2
508.8
479.0
29.8
626.4
81.7
544.7
505.9
38.7
530.1
66.1
464.0
439.9
24.0
544.6
65.2
479.4
448.5
30.9
556.1
66.7
489.4
460. 1
29.3
567.8
70.4
497.5
470.9
26.6
577.3
74.1
503.3
474.6
28.7
589.3
76.9
512.4
483.2
29.2
601.6
79.6
522.0
487.4
34.6
612.9
80.2
532.7
493.9
38.8
619.1
79.1
540.0
504.0
36.0
631. 0
82.8
548.2
509.6
38.5
642.5 '659.0
84.7 '87.5
557.9 '571.5
516.2 '533.5
41.6 '38.0
51.96
22.45
11.40
11.05
60.63
26.99
13.99
13.00
61.66
26.69
13.70
13.00
12.81
5.47
2.76
2.70
13.41
5.73
2.91
2.82
14.95
6.72
3.48
3.24
12.77
5.61
2.87
2.74
15.29
6.78
3.51
3.27
15.57
6.84
3.54
3.30
17.00
7.75
4.07
3.68
13.59
6.10
3.08
3.02
15.61
6.81
3.46
3.34
15.40
6.48
3.33
3.15
17.05
7.30
3.82
3.48
1.30
1.73
2.81
6.94
4.94
11.79
1.47
1.9S
3.44
8.41
5.62
12.74
1.42
1.53
3.88
9.88
5.91
12.34
.33
.44
.77
1.71
1.24
2.85
.32
.44
.72
1.88
1.22
3.10
.35
.46
.73
2.04
1.41
3.25
.33
.40
.75
1.60
1.26
2.83
.40
.55
1.00
2.09
1.42
3.06
.37
.48
.82
2.36
1.36
3.33
.38
.55
.86
2.36
1.58
3.52
.32
.41
.70
1.84
1.35
2.87
.34
.41
1.12
2.46
1.49
2.99
.37
.35
.98
2.66
1.46
3.09
.39
.36
1.07
2.92
1.62
3.39
do
do
do
do
50.35
21.55
10.80
10.70
52.75
23.00
11.75
11.25
55.35
24.15
12.45
11.70
58.00
25.60
13.15
12.45
60.10
25.80
13.85
12.95
61.25
27.55
14.35
13.20
62.80
27.75
14.50
13.25
61.65
27.85
14.20
13. 70
61.50
27.00
13.75
13.25
60.90
26.15
13.50
12.65
62.70
26.00
13.50
12.55
do
do_
do
do_ _
do
do
1.30
1.55
2.70
6.85
4.80
11.60
1.25
1.70
3.00
6.75
5.05
11.95
1.35
1.95
3.00
7.30
5.30
12.25
1.40
1.75
3.30
8.25
5.35
12.35
1.55
2.00
3.50
8.30
5.50
12.45
1.45
1.85
3.40
8.55
5.60
12.85
1.45
2.35
3.50
8.50
5.95
13.30
1.40
1.80
3.05
9.20
5.75
12.55
1.30
1.55
3.90
9.70
5.80
12.25
1.45
1.40
4.10
9.80
6.05
11.95
1.50
1.40
4.45
10.65
6.05
12.65
10,080 10, 119
6,925
6,811
212
230
1,353
1,474
1,565
1,629
10,511
7,203
209
1,469
1,630
10, 618
7,181
222
1,535
1,680
10, 913
7,382
206
1,587
1,738
10, 997
7,402
210
1,654
1,731
11, 352
7,671
339
1,575
1,767
11,353
7,712
336
1,545
1,760
11, 530
7, 626
237
1,842
1,825
do
do
do
do
_
do
___do
do
J
P88.8
P36.6
j>52.2
23.2
P28.9
'-4.5
23.9
DISPOSITION OF PERSONAL INCOME
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income, total
Less: Personal tax and nontax payments
Equals* Disposable personal income
Less* Personal outlays©
Equals" Personal saving §
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
bil. $
Manufacturing
^_ _ do
Durable goods industries^ _
do
Nondurable goods industries^
do
Mining
Railroad
Transportation, other than rail
Public utilities _
Communication
Commercial and other __
_
Seas. adj. qtrly. totals at annual rates:
All industries
Manufacturing
Durable goods industries^
Nondurable goods industries^
Mining
_
Railroad
Transportation, other than rail
Public utilities
Communication
Commercial and other
do
do
do
do
do
do
1 14.26 216.31
6.14
7.08
3.17
3.66
2.97
3.41
.35
.33
.92
2.25
.41
.30
1.11
2.78
34.27
34.62
164.80 264.30
28.00
28.10
14.60
14.55
13.40
13.55
1.55
1.45
4.00
11.25
1.60
1.15
3.90
10. 95
3 18. 55 3 18. 60
U.S. BALANCE OF INTERNATIONAL
PAYMENTScf
Quarterly Data Are Seasonally Adjusted
(Credits +; debits -)
Exports of goods and services (excl. transfers under
military grants)
mil. $__ 39, 147
Merchandise, adjusted, excl. military
do
26,244
Military sales.
_
do
844
Income on U.S. investments abroad
do
5,888
Other services
do
6,171
43,039 p 45, 693
29, 168 p 30, 463
847 p 1, 272
6,245 P 6, 785
6,779 P7,173
10, 180
6,880
192
1,562
1,546
J>11, 458
p 7, 454 p 7, 993
P360
p 1,823
p 1,821
Imports of goods and services.
_
do
-32,203 -37, 937 p-40, 893 -8, 139 -8, 233 -8, 599 -8,997 -9, 265 -9, 762 -9, 913 -9,999 -10,033 -10,122 p-10,739 p-7, S3
Merchandise, adjusted, excl. military
do
-21, 472 -25, 510 p-26, 980 -5, 475 -5, 556 -5, 772 -6, 025 -6, 225 -6,580 -6,680 -6,662 -6, 558 -6,549 p-7,21
-969 -1,045 -1,070 -1,094 p-1,11
-953
-754
-861
-911
-785
Military expenditures
do
-711
-2, 921 -3, 694 p-4,319
-585 p-58
-547
-557
-563
-565
-471
-475
-469
-424
-435
Income on foreign investments in the U.S__do
-2, 074 p-2, 277
-1, 729
-1, 664 -1, 701 -1,735 -1,858 -1,894 p-1,83
Other services
do
-6, 081 -6, 659 p-7, 317 -1, 529 -1, 488 -1, 573 -1, 636 -1,658
Unilateral transfers, net (excl. military grants);
-849 p-62
-852
-728
-632
-709
-733
transfers to foreigners (— )
mil. $__ -2, 824 -2, 925 p-3,049
-660
-851
-775
-725
f
Revised.
p Preliminary.
1
sinners, and personal transfer payments to foreigners.
Estimates for Jan .-Mar. 1968 based on anticipated capital expenditures of business.
^Personal saving is excess of disposable income over personal outlays.
.
2 Estimates for Apr.-.Tune 1968 based on anticipated capital expenditures of business.
if Data for individual durable and nondurable goods industries components appear in the
Anticipated expenditures for the year 1968 are as follows (in bil.$): All industries, 65.23; manuMar., June, Sept., and Dec. issues of the SURVEY.
facturing, total, 27.93; durable goods industries, 14.39; nondurable goods industries, 13.54;
cfMore complete details are given in the quarterly reviews in the Mar., June, Sept., and Dec.
mining, 1.58; railroad, 1.27; transportation, 4.51; public utilities, 10.88; communication, 6.45;
issues of the SURVEY.
commercial and other, 12.60.
3 Includes communication.
9 Includes inventory valuation adjustment.
0.
_ J J
SURVEY OF CURRENT BUSINESS
May 1 6
98
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1965
1966
1965
1967
Annual total
III
II
S-3
1966
IV
I
1967
III
II
IV
I
II
1968
III
I
IV
II
GENERAL 'BUSINESS INDICATORS—Quarterly Series—Continued
U.S. BALANCE OF INTERNATIONAL
PAYMENTS §— Con,
Quarterly Data Are Seasonally Adjusted
Transactions in U.S. private assets, net; increase
(— )
___mil. $_
Transactions in U.S. Govt. assets, excl. official
reserve assets; increase (— )
__mil. $__
Transactions in U.S. official reserve assets, net;
increase ( — )
mil. $
Transactions in foreign assets in the U.S., net (U.S.
liabilities); increase (+)
_ mil. $
Liquid assets
do
Other assets
do
Unrecorded transactions
_ _ do
Balance on liquidity basis—increase in U.S. official
reserve assets and decrease in liquid liabilities to
all foreigners* decrease ( — )
mil $
Balance on official reserve transactions basis—increase in U.S. official reserve assets and decrease in
liquid and certain nonliquid liabilities to foreign
official agencies; decrease ( — )
mil. $
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
-3, 743
-4,213 p-5, 446
-389
-885
-812
-981 -1,135
-932
-1,165
-984
—1, 575
—1, 531 p-2,362
-490
-244
-445
-365
-500
-328
-338
-737
-556
-473
p-596
p52
68
41
271
424
68
82
-6
1, 027
-419
-375
p-181
3,301 P 6, 600
789 p 3, 523
2,512 P 3, 077
p-595
-302
-342
-267
-75
-113
211
416
-205
-245
236
-12
248
-110
492
227
265
-233
1,145
54
1,091
-198
459
83
376
277
1,205
425
780
-148
364
-494
858
-295
2,166
972
1,194
-546
1,821 P2,249
1,013 P2,032
808
P217
209
»37
-419
-533
-553
-638 p-1, 851
-18 -1,817
-832
1,222
391
113
278
-415
568
-1,335
-1,357 p-3, 575
199
-457
-259
-651
-122
-165
-1,304
225 p-3,398
239
207
-916
-443
-175
861
1966
1967
Annual
-1,113 -1,741 v- 1,608
456 p- 1,205 p-520
1968
1967
Mar.
Apr.
May
June
July
r-600
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.p
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME, BY SOURCE
Seasonally adjusted, at annual rates:
Total personal income
584 0
626 4
615 6
616.5
618.2
622 6
627 0
631.6
634 4
635 9
642.4
649.3
650.9 ' 659. 4 * 666. 5
670.1
394.6
159.3
128 1
93.9
423. 8
167.2
134 4
100.9
416.2
165.6
132 9
99.1
416.7
165.0
132.5
99.1
417.2
164.3
132.2
99.3
420 9
165.2
133 0
100.4
423.4
166.1
133.2
101.3
426.7
168.0
135 3
101.8
428 5
168.2
135 4
102.1
429.4
167.9
134 9
102.6
435.3
171.2
137.5
103.7
443.1
173.3
c!39. 2
103.9
442.4
173.3
139.6
105.1
449.0
176.8
141. 5
106.7
"451.4
"177.4
"141.9
" 107. 1
453. 1
178.0
142.5
106.6
do
do
do
63.5
77.9
20.8
69.5
86 3
23.2
67.6
84 0
22.4
68.2
84.5
22.6
68.6
85.0
22.8
69.5
85.7
23.1
69.6
86.4
23.3
70.1
86.9
23.6
70.8
87.4
23.8
71.1
87.8
24.0
71.9
88.4
24.3
72.8
93.1
24.6
73.1
90.9
24.9
73.8
91.6
25.2
"74.5
92.4
25.5
75.2
93.2
25.8
do
_ do
43.2
16.1
43 6
14 8
43 1
14 3
43.3
14.4
43.4
14.4
43.6
14.3
43.7
14.7
43.8
15.0
43 9
15.3
44 0
15.1
44.1
15.2
44.2
15.3
44.3
15.3
44.4
15.4
44.5
15.6
44.5
15.5
19 4
21.5
42 .4
43.9
20 1
22 8
46 5
51.9
19 9
22 6
45.5
51.7
20.0
22.8
45.8
51.0
20.0
23.1
46.0
51.5
20.1
23.3
46.1
51.6
20.2
23.5
46.4
52.2
20.2
23.5
46.9
52.4
20.3
23.4
47.3
52.5
20 3
23.2
47.6
52.8
20.4
23.1
48.0
52.8
20.4
21.0
48.5
53.1
20.5
22.9
48.9
54.0
20.5
23.2
'49.5
54.7
20.6
23.6
" 50. 1
"58.1
20. 6
24.0
50.6
58. S
22.3
22.6
bil. $
Wage and salary disbursements, total
do
C ommodity-producing industries, total-do
Manufacturing
do
Distributive industries
do
Service industries
Government
Other labor income
Proprietors' income:
Business and professional
Farm
_
_ __
Rental income of persons
do
Dividends
- do
Personal interest income _
do__
Transfer payments._ _ _do_
Less personal contributions for social insurance
bil. $__
Total nonagricultural income
_
do
17.9
20.4
20.1
20.1
20.1
20.3
20.4
20.6
20.6
20.6
20.8
21.1
"22.8
22.8
563.1
606 5
596 2
596.9
598.8
603.2
607.2
611.4
614.0
615.7
622.0
628.8
630.3 " 638. 7 " 645. 6
649.3
FARM INCOME AND MARKETINGS
Gash receipts from farming, including Government
payments (48 States), total
mil. $
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
1957-59 — 100
Crops
do
Livestock and products
do
Indexes of volume of farm marketings, unadjusted:
All commodities
1957-59=100
Crops
do
Livestock and products
do
46 485
45 542
3 165
2 744
2 906
3,271
3,601
4,499
4 822
5,401
4,688
3,810
3,778
3,014
3,397
43 219
18 384
24 835
5 502
14 890
4 134
42 471
18 310
24 161
5 757
14 479
3 644
2 927
942
1 985
502
1 153
997
2 649
804
1 845
493
1 040
272
2 873
814
2 059
527
1 213
284
3,248
1,273
1 975
497
1,165
292
3 495
1 579
1 916
474
1,114
315
3,676
1,547
2 129
466
1, 308
343
3 933
1 818
2 115
'455
1 311
338
4 918
2 601
2 317
470
1 507
330
4,626
2,592
2 034
454
1,271
299
3 766
1,862
1 904
478
1,104
297
3,720
1,661
2 059
485
1,236
295
2,830
896
1,935
464
1,176
251
2,981
855
2, 126
508
1,304
278
134
134
134
132
133
131
109
82
129
99
70
120
107
71
134
121
111
128
130
138
124
137
135
138
146
159
137
183
227
150
172
226
132
140
162
124
138
145
134
105
78
126
111
75
138
121
121
120
124
124
123
100
70
122
89
52
117
96
55
125
112
99
121
122
132
115
128
128
128
136
148
128
174
215
144
168
219
129
135
158
119
135
149
124
95
71
113
98
62
125
156.3
P 158. 0
157.0
157.9
156.0
159.0
150.5
157.9
161.1
161.5
161.2
160.7
158.6
164.8
150.8
120.5
173 9
p 159. 6
P163 8
Pl54 4
pl23 5
p 184 4
158.9
164.4
152.1
120.1
160.3
164.9
154.4
122.1
158.1
164.1
150.6
121.8
161.0
165.6
155.3
123.9
150.5
154.7
145.1
124.8
158.3
158.9
157.4
129.0
162.6
163.8
161.2
125.6
163.7
164.4
162.9
124.7
163.5
167.1
159.0
124.2
162.6 " 160. 1 r 163. 9
169.3 " 166. 1 " 168. 8
154.2
152.5 " 157. 8
121.4 " 120. 2 " 124. 5
155 5
147 5
166.5
141 4
172.6
p 158 3
pl48 4
P 159 0
p 145 0
p 179. 6
157.2
146.2
160.1
141 8
180.8
157.7
147.1
161.8
142 5
180.3
155.2
144.2
157.8
139 8
179.0
159.8
150.5
162.0
146 8
180.0
151.2
139.9
132.9
142 2
175.3
156. 9
147. 7.
137.4
151 1
176.4
163 3
155.7
162.2
153 7
179. 5
162. 2
155.4
170.0
150 8
176.8
161.3
152.0
171.7
145.7
181.3
156 6
152.5
160.9
INDUSTRIAL PRODUCTION &
Federal Reserve Index of Quantity Output
Unadj., total index (incl. utilities) of- 1957-59 =100__
By industry groupings:
Manufacturing, total
do
Durable manufactures
do
Nondurable manufactures
do
Mining
do._ _
Utilities
do
By market groupings:
Final products, total
Consumer goods
_
Automotive and home goods
Apparel and staples
Equipment, including defense
do
do
_ _ _ do
do
do
Materials
do
Durable goods materials
do
Nondurable materials
do __
" Revised.
p Preliminary.
c Corrected.
§ See note marked "c?" on p. S-2.
157 0
156.9
157. 2
p 157 7
p 152. 1
p 163. 4
156 7
151.9
161.7
158 1
152.5
163.9
159.1 " 162. 6 " 164. 4
164.1
" 166. 1
" 170. 8
" 160. 2
" 125. 7
166.0
170.7
160.1
127.1
161.0 * 159. 1 " 162. 5 " 164. 6
150.3 '148.9 " 153. 5 " 155. 8
179.5
174.7
168.3 " 174. 7
146.7
142 5 " 142 8
183.9
181.0 " 181. 7 " 183. 4
162.4
153.2
176
160.4 r 159. 1 " 162. 8 " 164. 5
160.8
158.9
158.3
159 1
150 0
157.5
154.3 " 151. 7 " 156. 3
152.6
154.3
152.5
152.0
145. 0
166.7 " 166. 7 "169.6 ?17L6
169.3
165.4
162.4
155.2
166.4
cTRevisions for 1966 appear on p. 20 of the Nov. 1967 SURVEY
9 Includes data for items not shown separately.
166.1
160
173
161. 1
153. 7
168.7
181.9
SURVEY OF CURRENT BUSINESS
S-4
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
1967 *
1968
1967
Mar.
Annual
May 1968
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr. v
GENERAL BUSINESS INDICATORS—Continued
1
INDUSTRIAL PROD UCTIONrf — Continued
Federal Reserve Index of Quantity Output— Con.
'161.9 ' 162. 7
162.7
Seas, adj., total index (incl. utilities) cf- 1957-59 =100.
By industry groupings:
;
Manufacturing total
do
156.3
158.0
156.4
156.5
155.6
155.6
156.6
158.1
156.8
156.9
159.5
162. 0
158. 6
159.6
158.2
158.2
157.2
157.0
157.6
159.4
158.1
158,3
161.1
164.0
' 162. 7 r 163. 5 ' 164. 2
164.2
Durable manufactures 9
do.--Primary metals
'. do _
Iron and steel do
Nonferrous metals and produets_--_do__-Fabricated metal products
do____
Structural metal parts
,.
do
164.8
142.7
136.2
166.2
163.0
158.8
163.8
132.5
126.8
153.1
162.0
158.1
162.6
129.2
123.7
162. 1
162.9
160.1
162.5
129.1
122.7
161.4
161.0
158.1
162.2
128.9
122.9
154.4
160.8
156.4
161.5
129.0
121.2
156.4
160.8
156.9
162.5
129.6
122.3
155.3
159.8
156. 1
163.6
129.3
124.3
144.2
159.1
156.8
161.1
129. 2
125.6
141.1
158.1
156.0
160.7
131.7
127.7
142.8
158.2
156.4
164. 1
135.0
133.3
142.2
159.8
158.8
168.1
140.9
140.9
145.3
162.4
160.0
' 167. 2 r 167. 7 ' 168. 4
' 136. 3 ' 139. 3 '140.3
' 134. 2 ' 137. 8 '140.8
168.3
145
145
do
do
do _ _ _
-_ do
do_-__
do
183.8
181.9
186.4
166.9
168. 7
165.0
183.4
183.4
183.3
166.0
147.0
182.2
184.5
185.2
183.6
162.6
143.8
178.8
182.1
183.5
180.3
165.7
149.5
179.8
180.5
181.7
178.9
167.5
152. 0
181.4
177.5
181.3
172.4
169.3
154.5
181.8
180.0
182.2
177.1
170.8
156.7
182.6
182. 8
182.6
183.2
171.9
158.0
183.6
182.2
182.1
182.4
159.2
129. 4
184.3
179.6
177.2
182.8
159.2
128.6
185.2
183.2
180.9
186. 3
165. 6
141.4
186.0
182.2 ' 183. 4 ' 183. 2
179.5
180.7 r 180. 6
186.6
185.8 r 186. 9
175. 6 ' 175. 1
177.5
166.9
162.2 ' 161. 1
186.3
186.8 '186.5
Instruments and related products
do____
Clay, glass> and stone products__.____do
Lumber and products
do
Furniture and fixtures
do
Miscellaneous manufactures
____do
176.5
140.7
119.4
171.9
157.9
184.8
138.7
116.5
167.8
157.4
185.8
134.9
117.3
166.5
158.2
185.2
136.0
119. 1
166.5
159.2
185.3
134.8
115.6
166.5
158.1
184.1
133.5
114.9
166.3
156.7
182.9
134.1
115.5
162.7
155.4
183.2
136.9
109.2
164.8
154.9
183.1
138.4
114.3
166. 3
156.4
183.2
139. 7
117.0
166.6
155.0
185.4
139.2
120.6
167.8
155.1
186. 3
143.6
125.7
170.7
155. 7
do.— _
do
do
do
do
150.8
142.5
150.1
111.7
152.1
154.4
142.2
147.7
106.5
153.6
152.6
138.8
143.6
101.0
152.4
152.8
137.8
142.5
107.1
152. 1
151.1
137.8
142.6
105.0
151.4
151.4
136.6
142.4
105.4
151. 6
151.5
136.8
144.2
103.0
149.0
154.0
138. 7
146.4
106.5
152.8
154.2
141.3
146.8
108.4
152.9
155.2
144.9
146.2
109. 7
154. 5
157.2
147.4
148.6
113.3
156.1
157.1 ' 158. 2 '158.9
158.9
147.6 ' 148. 4 149.3
151.6
150.9 ' 145. 2 146.8
109.7
115.1 r 110. 4
157.0 ' 155. 9
157.1 157.5
159.0
do
do
do
do
do
142.1
134.2
193.2
221.0
128.3
146.8
134.2
203.8
234.8
133.9
147.4
132.8
201.1
231.3
130.1
148.3
133. 8
200.1
228.3
133.1
147.4
133.1
199.6
228.8
132.1
147.8
134.3
199.9
227.5
134.4
148.3
136.1
201.0
227.6
132.8
148.6
137.0
200.7
231. 4
133.2
145.4
135.7
202.3
234.2
137.0
144.3
134.0
205.5
238.8
137.6
145.5
134.4
208.0
242.3
136.8
143.3 ' 145. 9 ' 146. 8
144.1
131.4 133.7
129.9
129.9
210.5 ' 211. 8 ' 212. 1 212.6
246.9 ' 250. 9 248.6
134.8 '135.6 135. 2
138. 0
148
do
_.do
do
do
do
191.9
128.7
126.6
139.9
120.0
190.3
132.4
130.1
144.7
120.0
188.4
132.3
129.7
146.1
116.2
186.9
133.1
130. 6
146.3
116.0
165.7
132.0
130.3
141.2
117.4
166.9
131.9
129.9
142.9
123.9
170.1
131.5
129.4
142. 8
123.6
203.1
131. 7
129.0
146.3
121.4
202.4
131. 2
128.9
143.8
120.2
199.1
132.2
129.3
147.5
118.0
207.5
133.5
130.2
151.2
115.5
215.4
206.7
207.9
134.1 '•133.5 ' 133. 4
130. 5 r 130. 7 ' 130. 9
148.2 146. 7
153.3
120.5 ' 114. 4 132.1
do .
do
do
do
do
__do
120.5
117.0
118.0
119.3
133.4
133.5
123.5
118.1
123.2
126.4
119.9
135.4
121.5
115.1
118.1
120.1
143. 7
137.2
122.0
125. 5
117.1
119.6
149.5
130.6
120.2
120.1
117.5
119. 6
132.9
129.2
123.8
122.5
121.6
123.6
133.9
133.3
128.0
122.6
129.1
133.9
119.7
133.7
127.8
117.2
131.2
138.0
105.7
136.6
124.3
115.5
127.5
133.1
95.6
136.5
122. 4
112.3
126. 1
130.3
93.8
132.9
123.6
115.3
126. 4
128.7
93.2
139.0
122.3 ' 121. 6 ' 124. 7 ' 126. 5
126.0
116.1 r 113. 4 '116.8
'126.9
123.5 ' 123. 6 125.8
126.4 ' 127. 4 131.6 ' 132. 8
100.0 ' 102. 7 104. 2
95.7
' 145. 0 141.2
135.3
142.7
do
do
do
173.9
179.6
156. 1
184.4 r 181. 8 r 183. 0 r 183. 1 r 183. 7 '184.6 r 185. 4 r 185. 6 r 188. 7 ••191.5 ' 192. 6 '195.9
191.7
188.8 189.9 189.7 190.3 191.4 192.1 192. 1 195.8 199. 4 200.8 205.2
161. 2
159.5
161.3
162. 4 163.1 163.3 164. 1 165. 1 166. 5 166. 6 166.8
do
_ do_ _
do
155.5
147.5
166.5
158.3
148.4
159.0
157.1
146.6
155.2
157.3
147.1
155.8
156.3
146.0
153.3
156. 8
146.9
154.3
157.1
147.1
156.4
158.2
148.6
162.5
157. 0
147.0
155.0
156. 9
147.9
157. 7
160.0
150.1
163.2
161.9
152. 8
169.0
do _
do _
do
do _
do
do
163.0
169.5
154.4
168.9
166.6
165.7
149.1
145.7
153.6
166. 0
159.5
159. 6
144.6
136.5
155.3
162.7
152.9
157.4
151.3
149.6
153.6
158.9
144.2
157.9
145.8
149.9
140.5
158.5
143.8
157.2
151.2
156.0
144.8
156.6
138.6
157.3
155.2
160.7
148.0
157.3
143.3
156.3
161.1
163.7
157.8
163.4
155.0
156. 9
142.1
133.4
153.6
164.1
155.9
157.8
145.2
135.3
158.2
166.4
162. 9
159.7
152.4
144.5
162.9
170.8
168.4
163.4
170.0
175.1
163. 3
168.3
158.7
166.5
' 162. 2 ' 162. 8
' 151. 3 ' 153. 0 ' 154. 1
167. 0 '167.9 172.3
164.2 ' 162. 7 ' 172. 2
163.2 158.0 ' 172. 7
165. 4 ' 168. 8 171.5
169. 1 ' 171. 5 172.3
' 162. 6 163.9
159.3
166.4 '169.2 169.1
Apparel and staples
do
Apparel, incl. knit goods and shoes.. do
Consumer staples
do _ _
Processed foods
do
141.4
139.5
142.0
126.4
145.0
136.2
147. 5
130.0
143.9
135.5
146.3
129.6
144.4
135.0
147.1
129.6
143.7
131.9
147.0
130.3
144.6
133.2
147.8
130. 2
144.1
132.8
147.3
129.0
144.2
134.8
146.9
129.8
144.4
135.7
146.9
129.7
144.8
136.0
147.3
129.5
145.9
137.4
148. 4
129.5
147.6
139.0
150.1
130.4
' 146. 2
' 136. 5
' 149. 0
' 129. 5
Beverages and tobacco
do
Drugs soap and toiletries
do
Newspapers, magazines, books. __ do
133.2
173.5
136.5
159.9
136.4
183.0
140.1
168.3
136.0
181.2
142.3
164.2
136.1
182.4
143.6
166.6
133.2
182.3
142.5
166.9
136.5
182.7
141.4
169.3
136.3
184.0
142.1
168.3
137.9
178.0
140.9
168.8
135.8
179.8
136.2
170.5
137.6
181. 6
134.8
171.2
139.2
183.1
135.7
174.1
142.2
184.3
138.5
176.8
' 136. 8 141.8
184.2 '185.9
138.4 '141.5
179.9
'176.9
172.6
181. 2
172.3
190.1
208.3
167.5
179.6
182.9
170.3
200.9
215.4
158.7
179.6
184.4
174.1
199.1
211.7
162.8
179.2
183.5
172.1
201.7
210.4
161.5
178.5
182.1
169.1
200.8
211.7
167.6
178.1
181.3
169.0
200.5
208.9
162.8
178.4
180.8
169.0
201.1
210.2
148.6
178.9
180.6
166.8
201.9
214.1
154.3
178.6
179.8
166.6
200.3
210.4
158.5
176.1
176.9
162.3
199.0
209.9
157.5
181.1
183. 5
170.4
200.9
222.9
147.2
181.5
183.4
168.9
204.7
228.4
131. 2
181.4
183. 3
168.0
204. 2
226.4
148.3
157.0
156. 9
166.5
180.7
141.7
157.7
152.1
144.6
184.5
140.1
155.5
151.5
139.5
185.6
139.7
156.0
151.0
137.5
183.2
139.2
154.6
149.7
143.7
180.9
137.1
154.9
148.9
143.3
179.6
137.2
156. 1
149.7
141.8
181.2
138.1
157.9
151.8
142.7
186.3
139.0
156.7
148. 5
134.9
184.7
140.0
157.4
149.0
133.3
184.1
139.3
159.5
152.3
143.8
186.0
140.9
162.2
155.7
159.4
184.9
143.9
' 161. 7
' 154. 9
' 162. 3
183.9
••142.9
' 161. 8
'155.5
' 162. 2
'186.7
'143.6
157.2
149.0
145.6
150.6
163.4
152.2
148.5
154. 1
159.7
150.0
144.6
152.7
161.1
153.4
148.5
155.8
159.6
150.1
146.2
152.0
161.1
151.3
145.1
154.4
162.6
150.9
141.7
155.5
164.2
151. 7
143.0
156.0
165.2
153.1
150.4
154.5
166.0
152.5
153.7
151.9
166. 9
153.2
152.6
153.5
168.9
154.7
152.0
156.0
"168.7
' 154. 4
' 154. 3
' 154. 5
'168.3 ' 169. 3
' 150. 8 151.3
' 146. 6 146.0
' 152. 9 154.0
170
136.6
122.5
144.0
128.9
183 9.
139.8
123.2
141.3
125.3
189 1
140.3
124.3
isi n
143.0
128.2
181 1
145.6 r 147. 2 ' 149. 8 '151.5
146.9
146.9
131.0
130.3 128.7 ' 128. 9 ' 132. 5 135.2
194.4
187.9
188. 5
188.3 r 193. 4
9 Includes data for items not shown separately.
152
135
Machinery
Nonelectrical machinery. _
Electrical machinery. _
Transportation equipment 9
Motor vehicles and parts...
Aircraft and other equipment
Nondurable manufactures
Textile mill products
Apparel products
Leather and products
Paper and products
'
Printing an d publishing
Newspapers
Chemicals and products
Industrial chemicals
Petroleum products
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
By market groupings: 1
Final products, total d"
Consumer goods
_
Automotive and home goods.
Automotive products .
Autos
Auto parts and allied products
Home goods 9. _
Appliances, TV, and radios
Furniture and rugs
Equipment, including defense 9
__.do____
Business equipment
_ do
Industrial equipment
do
Commercial equipment
do
Freight and passenger equipment do
Farm equipment
do
Materialsd1.
_
Durable goods materials 9 — -—
Consumer durable
Equipment
Construction
Nondurable materials 9Business supplies
Containers
General business supplies
Business fuel and power 9 _ _ _
Mineral fuels
Nonrp.sirlAnt.ial nt.ilit.ips
' Revised.
p Preliminary.
-
do __.
do
do
do
do
___do
do
do
do
do
do
rln
179 Q
cfSee corresponding note on p. S-3.
181 Q
147.7
135.1
189 1
149. 1
137.1
189. 5
147.3
133.4
183 8
161.2
' 154. 1 151. 7
' 163. 9 ' 165. 7 ' 166. 8
159.4 ' 160. 9 ' 162. 7
r 145. 6
186.7
140. 8
118.1
171.3
158.9
162
156
' 182. 9
180.2
' 186. 4
' 177. 6
' 167. 7
' 185. 4
181
179
184
177
165
186
'184.7 '183.8
136.5 ' 135. 2
' 122. 3 125.5
' 173. 0 173.7
' 160. 7 '159.9
184
145
174
161
133.8
131.5
126.7
124
127
132
' 197. 5 ' 196. 5 196. 5
207.3
' 160. 8
148. 3
137.6
' 151. 3
' 130. 9
151.4
131.1
162.4
153.9
170
168
167
151
187.7
142. 1
'182.0 ' 181. 6
183.1
183.4
166.5
'166.7
' 206. 1 205.4
' 230. 1 231.1
146.4
' 162. 5
156. 5
160.1
185.1
145.4
180.8
183
163.4
158
SURVEY OF CUEEENT BUSINESS
May 1968
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
1967
S-5
1968
1967
Annual
Mar.
Apr.
May
June-
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar
Apr.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS SALES AND INVENTORIES §
Mfg. and trade sales (unadj.), total
Mfg. and trade sales (seas, adj.) , totals
__.mil. $_ 1,035,052 '1,055,62 ' 89,045 ' 86,343 r 88,814 ' 91,850 ' 83,177 ' 88,203 ' 89,648 ' 89,987 ' 91,295 ' 95,957 ' 85,782 '89,027
94,316
-do. _ _ 11,035,052 11,055,62 ' 87,242 ' 86,643 r 87,286 ' 88,244 ' 88,454 '88,768 '88,323 '87,196 '89,612 ' 92,057 r 92,544 ' 92,595 94,327
Manufacturing, totaled
do
1527,629 r 1 536,93 ' 44,650 ' 43,753 r 44,620 '44,583 ' 44,865 '45,148 ' 44,261 '43,912 ' 45,782 «• 47,946 ' 47,785 '47,243 48,155
Durable goods industries,.. _....__..._._.do.__ 276,069
277,474 23, 137 22, 269 22,900 23,052 23, 192 23, 633 22,949 22,311 23,487 25,290 25,227 ' 24,646 25, 169
Nondurable goods industriesc?L_
do... 251, 560 ' 259,46 r 21,513 T 21,484 •r 21,720 ' 21,531 ' 21,673 ' 21,515 ' 21,312 '21,601 ' 22,295 ' 22,656 ' 22,558 ' 22,597 22,986
Retail trade, total
Durable goods stores
Nondurable goods stores.
Merchant wholesalers, total .
Durable goods establishments
Nondurable goods establishments
do
1 303, 672 i 313,503
do
97,812
99,669
d o _ _ . 205,860 213,834
25,739
8,150
17,589
25,918
8,104
17,814
25,897
3,187
17, 710
26, 544
8,546
17, 998
26,444
8,592
17,852
26, 422
8,508
17, 914
26,732
8,743
17,989
26,089
8,235
17, 854
26,411
8,221
18,190
26,470
8,327
18,143
27,065 ' 27;399
8,523 '8,765
18, 542 ' 18,634
28,129
9,065
19,064
do
1203,751 i 205,188
do.._
91, 026
90, 447
do__. 112, 724 114, 740
16,853
7,350
9, 503
16,972
7,292
9,680
16,769
7,246
9,523
17, 117
7,495
9,622
17, 145
7,503
9,642
17, 198
7,562
9,636
17,330
7,684
9, 646
17, 195
7,718
9,477
17,419
7,843
9,576
17,641
7,980
9,661
17,694 ' 17,953
7, 892 ' 8,171
9,802 '9,782
18,043
8,146
9,897
Mfg. and trade inventories, book value, end of year
or month (unadj.), total...
._
mil. $
133, 474
138, 964 137, 833 138,439 138, 454 137,455 136, 607 136, 503 136,917 138, 698 140,547 138,964 140,058 '141,644 143,074
Mfg. and trade inventories, book value, end of year
or month (seas, adj.) , total d"
.mil. $
135,233
140,742
77,581
50,037
27, 544
36,961
16, 536
20,425
20, 691
12, 112
8, 579
82, 425
53,930
28, 495
36, 682
15,977
20, 705
21,635
12, 543
9,092
ratio. _
1.48
1.56
Manufacturing, totaled
.
do
Durable goods industries __
do
Materials and supplies.
do
Work in process
do
Finished goods
.
.do
Nondurable goods industries^
_do____
Materials and supplies
do....
Work in process
do
Finished goods
_. _
do
Retail trade, total.
do
Durable goods stores
do
Nondurable goods stores. . . .
do
Merchant wholesalers, total ..
do
Durable goods establishments..
do
Nondurable goods establishments
do
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Manufacturers' export sales:
Durable goods industries (unadj.), total—mil. $ _
1.64
1.98
.59
.87
.52
1.27
.50
.19
.58
1.42
1.97
1.16
1.14
1.49
.85
1.79
2.25
, 64
1.03
.59
'1. 31
.49
.20
.61
1.39
1.92
1.15
1.22
1.61
.91
Manufacturing, total d*_
_
do
Durable goods in dustries...
do
Nondurable goods in dustriescf---_-_
do___.
Retail trade, total
do
Durable goods stores.
_ _ do
Nondurable goods stores.
do
Merchant wholesalers, total....... ...
do...
Durable goods establishments^
do
Nondurable goods establishments
.do.-...
Inventory-sales ratios:
Manufacturing and trade, totalof
136,815 137,080 137,191 136,805 137,111 137,850 137,794 138,268
139,331 140,742 141,342 '141,624 141,814
79, 430
51,216
28, 214
36, 526
16, 142
20, 384
20,859
12, 105
8,754
81,796
53, 506
28, 290
36,474
15, 728
20,746
21,061
12,258
8,803
82,425
53,930
28,495
36,682
15,977
20, 705
21,635
12,543
9,092
82, 571
53, 742
28, 829
37,130
16,238
20,892
21,641
12,433
9,208
1.55
'1.53
'1.53
81, 033
52, 784
28, 249
36, 028
15, 503
20,525
20,789
12, 099
8,690
80, 841 81,106
52, 572 52, 918
28, 269 28, 188
36, 143 36, 217
15,711 15,681
20, 432 20, 536
20, 810 20,945
12,069 12, 202
8,741 8,743
80, 119
51, 809
28, 310
36, 087
15, 661
20, 426
20, 599
11, 981
8,618
80, 603
52, 346
28, 257
35, 997
15,549
20,448
20, 511
12, 038
8, 473
1.57
1.55
'1.55
1.55
'1.56
'1.59
1.80
2.26
.64
1.03
.59
1.31
.50
.20
.62
1.40
1.94
1.15
1.23
1.65
.90
' 1. 80
2.25
.63
1.03
.59
1.31
.50
.20
.61
1.36
1.83
1.13
1.20
1.60
.90
'1.80
2.26
.63
1.04
.59
'1.30
.49
.20
'.61
1.36
1.81
1.15
1. 20
1.60
.88
'1.79
2. 23
.62
1.02
.59
' 1. 31
'.50
.20
'.61
1. 36
1.82
1.15
1.21
1.60
.90
'1.83
2.29
.64
1.05
.60
'1.33
.50
' .21
' .62
1.35
1.80
1.14
1.20
1.57
.91
'1.85 '1.79
2.37
2.28
.66
.63
1.09
1.05
.62
.60
' 1. 30 '1.27
.49
.47
' . 21 '.21
'.61
'.59
1.39
1.38
1.90
1.91
1.14
1.15
1.21
1.22
1.58
1.56
.92
.92
80, 059
51, 593
28,466
36,236
16,033
20, 203
20,785
12, 162
8,623
80,341
51, 784
28, 557
36, 263
15,904
20, 359
20, 587
11, 989
8,598
1.57
1.58
1.78
2.21
.64
1.00
.58
1.31
' . 50
.20
.62
1.42
1.98
1.16
1.24
1.65
.92
1.83
2.32
.66
1.05
.60
1.32
.50
.20
.62
.40
.98
.13
.22
.67
.89
'1.72 '1.73
2.13
2.13
.59
.59
.99
.99
.56
. 56
' 1. 26 '1.28
'.46
'.47
.20
.20
' . 59 '.61
1.39
1.37
1.92
1.91
1. 14
1.13
1.23
1.22
1.57
1. 58
.94
.94
' 82,919
' 54,136
'28,783
' 37,082
16,268
' 20,814
'21,623
'12,446
' 9,177
83,239
54,244
28,995
37, 003
16,253
20,750
21,572
12, 491
9,081
'1.53
1.50
' 1 . 76
'2.20
'.61
1.02 :
. 57
'1.27
.46
.20
.61
1.35
1.86
'1.12
'1.20
'1.52
'.94
1.73
2.16
.59
1.01
.55
1.26
.45
.20
.61
1.32
1.79
1.09
1.20
1.53
.92
1,201
982
1,035
935
1,053 1,123 1,098
45,839 ' 45,044 ' 44,828 '46,666 '40,747 ' 43,915 ' 46,137
998
1,109
1,337
45,747
46,004
45,960
44,650 '48,054 49,469
277, 474
11,817
42, 607
22,237
25, 725
23, 946
928
3,732
1,923
2,187
23,342
959
3,681
1,892
2,116
23,528
998
3,613
1,877
2,168
24, 778
1,051
3,717
1, 885
2,276
20,580
943
3, 105
1,621
1,939
22, 089
1,083
3, 401
1,814
2,222
23, 565
1,106
3,449
1,805
2,230
23, 019
1,067
3,485
1,870
2,227
23, 575
1,006
3,538
1,911
2,142
24, 595
977
3,506
1,874
2,179
23, 335
903
3, 610
1,987
2,123
' 25,061
938
' 3, 907
'2,158
'2,258
26, 094
972
4,089
2,304
2,321
43,119
40,909
73, 020
42, 224
10,673
3,752
3,500
6. 505
3,888
851
3,733
3,177
6,401
3,915
829
3,647
3,196
6,609
4,085
865
3,869
3,531
6,891
4,178
929
3,272
3,028
5,168
2, 782
832
3,436
3,357
5,023
2,463
926
3,671
3,668
5,746
3,080
998
3, 537
3,590
5,509
2, 966
967
3,532
3,641
6,204
3,488
955
3,875
3,653
7,056
4,013
975
3,493
3,257
6,623
3, 963
924
' 3, 953
' 3, 554
' 6, 771
' 3, 919
'982
4,168
3,674
6, 998
4,027
1, 048
21,893 r 21,702 21,300 21,888 20,167 21,826 22,572 22,728 22,429 21,365 21,315 22,993
7,571
7,634
8,144
7, 656 '8,072
7,629
7,352
7,937
7,811
8,161
7,466
8,112
408
454
431
385
411
471
447
427
'414
425
415
431
1, 573
1, 647
1,592 '1,790
1,752
1,344
1,634
1,548
1,647
1, 550
1,824
1,755
1,928
1,918
1,922
1,913 ' 2, 041
1,891
1,846
1,891
1,703
1,945
1,839
1,931
T
3, 442 ' 3, 629 f 3, 413 ' 3, 444 ' 3, 045 '3,322 ' 3, 476 '3,442 ' 3, 324 '3,036 '3,254 ' 3, 483
1.739
1,789
1,736 ' 1, 818
1,796
1,746
1, 822
1,791
1,759
1,811
1,773
1,829
1, 138
1, 112
1,068 ' 1, 169
1,126
1,136
1,164
1,010
1,061
1,133
1,195
1,120
23,375
8,224
435
1,776
2,107
3,587
1, 817
1, 199
do
44,650
43,753
44,620
44,583
44,865
45,148
44,261 ' 43,912
45,782
47,946
47,785
47,243
48,155
do
do
do
do
do
23, 137
1,020
3, 517
1,787
2,272
22, 269
927
3,439
1,742
2,080
22,900
914
3,434
1,791
2,092
23, 052
923
3, 462
1, 755
2,093
23, 192
897
3,581
1,905
2, £68
23, 633
959
3,519
1,839
2,092
22,949
1,010
3,419
1,780
2,094
22,311
966
3,475
1,885
2,094
23, 487
1,028
3,620
1,992
2,180
25, 290
1,187
3,826
2,097
2,351
25, 227
1,140
3,732
2,019
2,385
24.646
' 1, 102
' 3, 771
' 2, 073
' 2, 359
25,169
1, 072
3,848
2, 141
2,415
Machinery, except electrical
Electrical machinery
Transportation equipment..
Motor vehicles and parts
Instruments and related products
do
do
do
do
do
3,489
3, 435
6,061
3,529
845
3,453
3,222
5,912
3,557
836
3,455
3,323
6,380
3,875
876
3,517
3,358
6,465
3,896
878
3, 587
3,468
6, 172
3,561
933
3,672
3, 423
6, 577
3, 900
965
3,690
3,412
5,909
3, 252
932
3,631
3,394
5,366
2,744
938
3,737
3,491
5,929
3,184
929
3,996
3, 596
6,772
3,855
904
3, 852
3, 586
6,748
3,839
1,043
'3,800
'3,471
' 6, 387
' 3, 699
'979
3,897
3,600
6,468
3, 586
1,041
Nondurable goods industries, totalrf"9
Food and kindred products
Tobacco products
Textile mill products d"
Paper and allied products
C hemicals and allied products
Petroleum and coal products. _
Rubber and plastics products. .
do
do
do
do
do
do
do
do
11, 437
12, 850
Shipments (not seas, adj.), totalcf _ ....
do
527, 629 '536,935
Durable goods industries, total 9 .
Stone, clay, and glass products. _
Primary metals
_
Blastfurnaces, steel mills
Fabricated metal products
do
do
do
do
do
276, 069
11, 929
45,651
23, 707
26, 024
Machinery, except electrical....
Electrical machinery.
Transportation equipment
Motor vehicles and parts.
Instruments and related products
do
do
do
do
do
40, 204
39, 852
73, 460
46, 470
9,806
Nondurable goods industries, totaled 9 .
Food and kindred products. . _ _ _
Tobacco products
Textile mil] products^— .
Paper and allied products
Chemicals and allied products.
Petroleum and coal products. __
Rubber and plastics products .
Shipments (seas, adj.), totals . .
By industry group:
Durable goods industries, total 9 _
Stone, clay, and glass products
Primary metals
___•
Blast furnaces, steel mills
Fabricated metal products
do
do
do
do
do
do
do
do
251, 560 ' 259,461
87, 761
92,392
5,104
5,102
19, 588
19, 205
21,770
22, 492
38, 676 •' 40, 058
20, 517
21,304
12, 752
13, 290
r
1,139
' 1, 137
1,164
21,513 21,484 21,720 21,531 21,673 21,515 21,312 ' 21,601 22,295 22,656 22,558 22,597 22, 986
8,213
7,562
7, 989 '7,940
7,695
7,728
7,611
7,549
7,634
8,295
7,690
7, 809
8,090
456
'437
425
428
400
432
441
421
438
431
437
415
414
1,721
1,747 ' 1, 792
1,523
1,577
1, 590
1, 592
1, 734
1,549
1,572
1,637
1,690
1, 685
2,052
2 013 '2,002
1,878
1,851
2,021
1,808
1.803
1,879
1,870
1,949
1,839
1,876
' 3, 365 '3,375 '3,259 '3,308 '3,311 ' 3, 339 ' 3, 268 ' 3, 345 ' 3, 447 • 3, 401 '3,410 ' 3, 464 3,507
1,727 ' 1, 798 1,871
1,789
1,797
1,838
1,740
1,792
1,762
1,835
1, 811
1,776
1,780
1,165
1,142 '1,158
1,134
1,124
1,126
1,106
1,087
1,149
1,088
1,110
1, 085
1,136
ase d
n ata not
being njviewed ind corrected, refl ects revis5ions restilting froin bench]narking the series to the
§T tie
tprr?"!!,?^ » i? - ? /
,
seasonally adjusted.
2 Advance estimai e.
term business here includes only manufacturing and trade; business iiiventorie s as shovrn
1966 Armual Su rvey of ]Vlanufact ares and the com putation of new seasonal j actors. ISLevised
on p. S-l cover data for all types of producers, both farm and nonfarm 1Unadjusi ed data f or
data bsick to 19 61 for all industryp groups as well as highe r level iridustry t otals, reilecting
manufacturing are shown below and on p. S-6; those for wholesale and ret ail trade on pp. S-11
$? Includes data for items
benchnlarking t o the lat est data available will be shown la ter.
not she wn sepairately.
cr1 Revised to incorporate new data for the textile mill products series \\'•hich, in addition to
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
1967
Annual
May 1968
1968
1967
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
Shipments (seas, adj.)— Continued
By market category:
Home goods and apparel cf.
mil $
Consumer staples
do
Equipment and defense prod., excl. auto_do
Automotive equipment
do
Construction materials and supplies
do
Other materials and supplies d"
do
Supplementary market categories:
Consumer durables
do
Defense products
•
do
Machinery and equipment
do
* 49, 716 i 49 ygS
110, 451 116, 303
i 67, 889 i 73, 207
i 52, 045 i 47 §04
i 38, 977 i 37, 971
208, 551 1212,262
4,215
9,532
6,000
4,004
3,297
17, 602
4,044
9,555
5,816
4,005
3,039
17, 294
4,183
9,684
5,925
4,324
3,023
17, 481
4,156
9,608
6,026
4,360
3,006
17, 427
4,123
9,659
6,163
3,999
2,979
17,942
4,002
9,708
6,223
4,381
3,150
17, 684
4,000
9,630
6,258
3,709
3,187
17, 477
3,996
9,775
6,175
3, 209
3,122
17, 635
4,135
10, 143
6,396
3,670
3,275
18, 163
4,386
10, 351
6,855
4,355
3,504
18,495
4,473
10,113
6,752
4,334
3,511
18, 602
'4,332
'10,020
' 6, 569
' 4, 154
' 3, 606
'18, 562
4,378
10, 267
6,860
4, 056
3,610
18,984
i 21, 212
i 33, 240
i 53, 220
i 21, 979
i 38, 419
1 KC 10Q
1,863
3,135
4,630
1,719
2,988
4,524
1,763
3,162
4,538
1,796
3,145
'4, 644
1,855
3,218
4,776
1,826
3,284
4,775
1,833
3,312
4,768
1,855
3,278
4,643
1,893
3,450
4,762
2,012
3,652
4,975
1,960
3,674
4,921
' 1, 894 1,939
' 3, 558
3,779
' 4, 826
4,958
77, 108
49,432
27, 676
81,898
53,262
28, 636
79, 866
51, 580
28, 286
80, 518
52, 107
28, 411
80, 965
52,558
28, 407
80, 608
52, 346
28, 262
80, 328
52, 194
28, 134
80, 713
52, 631
28, 082
80, 363
52, 287
28, 076
80, 662
52, 541
28, 121
81,232
52,925
28, 307
81,898
53,262
28,636
82,543
53,527
29,016
83, 364
54, 347
29, 017
83, 696
54, 629
29, 067
Book value (seasonally adjusted), totaled— do
By industry group:
Durable goods industries, total 9 _._
do
Stone, clay, and glass products
do
Primary metals
do
Blast furnaces steel mills
do
Fabricated metal products
do
77, 581
82,425
79, 430
80, 059
80, 341
80, 119
80, 603
81, 033
80,841
81, 106
81,796
82, 425
82,571
82, 919
83, 239
50, 037
1,746
7,109
4,043
5,314
53,930
1,789
7,519
4,318
5,368
51, 216
1,794
7,213
4,128
5,273
51,593
1,819
7,338
4,204
5,269
51, 784
1,842
7,451
4,243
5,229
51, 809
1,847
7,478
4,242
5,162
52,346
1,835
7,495
4,257
5,142
52,784
1,813
7,482
4,265
5,179
52, 572
1,769
7,440
4,248
5,230
52, 918
1,792
7,464
4,273
5,268
53, 506
1,785
7,476
4,282
5,326
53,930
1,789
7,519
4,318
5,368
53,742
1,795
7,547
4,335
5,313
54, 136
' 1, 790
' 7, 543
'4,338
' 5, 395
54, 244
1,773
7,569
4, 319
5,387
Machinery, except electrical
do
Electrical machinery
do
Transportation equipment
do
Motor vehicles and parts
do
Instruments and related products. _do
9,942
7.653
11, 369
3,538
2,214
10,495
7,869
13, 510
3,653
2,395
10, 152
7,825
12, 004
3,533
2.251
10, 173
7,783
12, 164
3,454
2,290
10, 234
7,755
12, 184
3,398
2,303
10, 275
7,682
12, 236
3,302
2,301
10,313
7,730
12, 706
3,568
2,313
10,362
7,765
13, 082
3,781
2,316
10,451
7,749
12,824
3,528
2,328
10, 425
7,830
12, 941
3,568
2,357
10, 540
7,880
13,232
3,675
2,359
10,495
7,869
13, 510
3,653
2,395
10,338 '10,322 10, 286
7,881 ' 7, 897
7,889
13,494 '13,702 13, 794
3,718 ' 3, 796 3,829
2,375 ' 2, 408
2,430
14, 802
2,603
4,877
2,477
22,263
?, 477
7,853
7,512
12, 972
2,029
4,865
1,380
14,909
2,608
4,735
2,585
25,099
2,738
8,217
9,447
13,922
2,173
5,412
1,478
14, 748
2,642
4,859
2,425
23, 140
2,470
7,981
8,220
13,328
2,101
5,137
1,359
14,721
2,705
4,781
2,363
23,423
2,510
7,987
8,439
13,449
2,123
5,188
1,362
14,576
2,706
4,719
2,343
23, 592
2,607
8,014
8,442
13, 616
2,138
5,256
1,399
14, 485
2,693
4,664
2,331
23, 704
2,646
8,065
8,488
13, 620
2,139
5,228
1,417
14,536
2,668
4,728
2,382
24, 139
2,704
8,056
8,922
13, 671
2,123
5,259
1,402
14,668 14, 597
2,626
2,579
4,725
4,708
2,591
2,512
24, 215 24,143
2,713
2,680
8, 083 , 8,117
8,997
8,894
13,901 13,832
2,143
2,181
5,319
5,375
1,494
1,418
14, 718
2,539
4,748
2, 552
24,370
2,723
8,162
8,957
13,830
2,202
5,345
1,432
14,806
2,560
4,780
2,578
24, 721
2, 715
8,184
9,223
13,979
2,201
5,456
1,431
14,909
2,608
4,735
2,585
25,099
2,738
8,217
9,447
13,922
2,173
5,412
1,478
14,808 '14,917
2,594
2,577
4,632 ' 4, 610
2,668 ' 2, 724
24,921 '25,152
2,691 ' 2, 673
8,252 ' 8, 250
9,338 ' 9, 463
14,013 '14,067
2,262 ' 2, 293
5,335 ' 5, 359
1,488 ' 1, 515
14, 960
2,596
4,603
2,705
25, 322
2.669
8,270
9,607
13, 962
2,304
5,302
1,482
27, 544
6,394
2,343
3,017
2,271
5,039
1,869
1,402
28,495
6,561
2,392
3,169
2,272
5,451
1,980
1,409
28, 214
6,669
2,389
3,078
2,286
5,203
1,915
1,446
28, 466
6,756
2,383
3,101
2,300
5,290
1,950
1,453
28, 557
6,737
2,377
3,101
2,305
5,412
1,960
1,428
28,310
6,634
2,380
3,108
2,310
5,381
1,918
1,415
28, 257
6,662
2,373
3,096
2,310
5,383
1,935
1,402
28, 249
6,512
2,366
3,133
2,307
5,400
1,923
1,398
28, 269
6,391
2,348
3,160
2,300
5,433
1,920
1,389
28, 188
6,425
2,338
3,128
2,279
5,407
1,925
1,398
28,290
6,489
2,326
3,123
2,285
5,454
1,930
1,419
28,495
6,561
2,392
3,169
2,272
5,451
1,980
1,409
28,829 '28,783
6,755 '6,743
2,408 '2,383
3,239 ' 3, 281
2,269 ' 2, 297
5,469
5,477
2,031 ' 2, 007
1,418 ' 1, 418
28, 995
6,829
2,399
3,333
2,287
5,507
2,027
1,439
10, 501
4,306
12, 737
10, 444
4,606
13, 445
10, 649
4,318
13, 247
10, 747
4,302
13, 417
10, 808
4,341
13,408
10, 783
4,385
13, 142
10, 667
4,340
13, 250
10, 722
4,386
13, 141
10, 711
4,413
13, 145
10, 573
4,520
13,095
10,543
4,572
13,175
10, 444
4,606
13, 445
10,573 '10,448
4,573 ' 4, 553
13,683 '13,782
10, 350
4,544
14, 101
do
do
do
do
8,241
10, 476
18, 166
4,358
6,537
29, 803
8,384
10,910
20,939
4,437
6,504
31, 251
8,390
10,861
19, 009
4,343
6,491
30, 336
8,373
10,977
19,303
4,263
6,541
30, 602
8,352
10, 994
19, 481
4,171
6,504
30, 839
8,182
10, 922
19, 646
4,060
6,491
30, 818
8,114
10, 946
19,892
4,297
6,433
30, 921
8,268
10, 755
20, 041
4,523
6, 368
31, 078
8,343
10, 647
20, 218
4,251
6, 315
31, 067
8,397
10, 683
20,356
4,300
6,369
31, 001
8,399
10,749
20,653
4,436
6,430
31,129
8,384
10, 910
20, 939
4,437
6,504
31, 251
8,536 ' 8, 536
11,152 '11,114
20,742 '20,814
4,495 ' 4, 615
6,494 ' 6, 598
31,152 '31,242
8,527
11, 222
20, 897
4,638
6,589
31, 366
do
do
do
4,189
8,732
12, 592
4,368
10, 781
13, 368
4,286
9,405
12, 830
4,253
9,615
12,873
4,276
9,744
12,903
4,232
9,839
13, 016
4, 228
10, 094
13, 01.
4,269
10, 218
13, 103
4,251
10,213
13, 197
4,348
10,319
13, 182
4,396
10,476
13,354
4,368
10, 781
13,368
4,441 ' 4, 425
4,396
10,758 ' 10, 887 10, 983
13,184 '13,167 13, 127
Inventories, end of year or month:
Book value (unadjusted), total d"--.— 1_
Durable goods industries, total
Nondurable goods industries total cf
do.___
do
do
By stage of fabrication:
Materials and supplies 9
do _ _ _
Primary metals
do
Machinery (elec. and nonelec.)___do
Transp ortation equipment
do
Work in process 9
do
Primary metals
do
Machinery (elec. and nonelec.).__do
Transportation eouipment
do
Finished goods 9
do
Primary metals
do _
Machinery (elec. and nonelec.)_..do
Transportation equipment
do
Nondurable goods industries, total 9 & do
Food and kindred products
do
Tobacco products
do
Textile mill productscf
do
Paper and allied products
_do
Chemicals and allied products
do
Petroleum and coal products
do
Rubber and plastics products
do
By stage of fabrication:
Materials and suppliescf
do___
Finished goodscf
By market category:
Home goods and apparel d*
Equip, and defense prod., excl. auto
Automotive equipment- _ _
_
Construction materials and supplies
Other materials and supplies^1
Supplementary market categories:
Consumer durables
_ _
Defense products
Machinery and equipment
do
do ___
New orders, net (not seas, adj.), totalcf
Durable goods industries, total
Nondurable goods industries total cf
do
do
do
541, 276 '539,986 '45,029 '44,887 '44,897 '47,666 '41,968 '44,121 '46,485 '46,385 '45,577 '46,772 '45,430 '48,621
289,836 280, 530 23,204 23, 157 23, 600 25, 830 21, 754 22, 268 23,888 23, 660 23, 096 25,394 24, 107 '25,587
251, 440 '259 456 '21,825 '21,730 '21,297 '21,836 '20,214 '21,853 '22 597 '22,725 '22,481 '21,378 21, 323 '23,034
50, 858
27, 508
23, 350
New orders net (seas adj ) totalcf
By industry group:
Durable goods industries, total 9
Primary metals
Blast furnaces, steel mills
Fabricated metal products _
Machinery, except electrical
Electrical machinery
Transportation equipment
Aircraft missiles and parts
do
1541,276 '1539,986 '43,503 '43,676 '45,474 '45,757 '45,481 '45,322 '44,818 '44,975 '45,882 '49,264 '47,280 '47,432
49, 056
Nondurable goods industries, totald"
Industries with unfilled orders© cfIndustries without unfilled ordersf
By market category:
Home goods and apparelcf
Consumer staples.
.
Equip, and defense prod., excl. auto__
Automotive equipment
Construction materials and supplies
Other materials and suppliescf
Supplementary market categories:
Consumer durables
Defense products
Machinery and equipment
289,836
do
46, 879
do_
24, 285
do
26, 743
do
42, 677
do
42, 269
do
I d o _ _ _ ~ 79, 861
27, 503
do
do
- do
do
280, 530
42,216
22, 403
26,542
42,944
41,208
75, 557
28, 936
22, 065
3,013
1,434
2,247
3,351
3,273
5,911
2,207
22,226
3,236
1,701
2,136
3,429
3,196
6,140
2,228
23,857
3,606
2,020
2,106
3,497
3,250
7,209
2,763
23, 715
3,646
1,994
1,979
3,564
3,579
6,697
2,469
23, 726
3,470
1,794
2,254
3,945
3,640
5,950
1,705
23,416
3,612
1,971
2,009
3,679
3,554
6,019
2,362
23,381
3,467
1,905
2,246
3,588
3,473
6,241
3,023
23,545
3,783
2,091
2,334
3,840
3,315
5,673
2,072
26,492
4,120
2,394
2,936
3,875
3,569
7,101
2,883
251, 440 '259,456 '21,438 '21,450 '21,617 '21,494 '21, 766 '21,596 '21,402 '21,594 '22,337 '22,772 '22,509 '22,603
6,217 ' 6, 295
6,033
6,291
68, 560
5,848
6,007
5,820
69, 276
5,640
5,756
5,873
5,680
5,667
182,880 '190,180 '15,798 '15,770 '15,861 '15,827 '15,759 '15,723 '15,582 '15,746 '16,304 '16,481 '16,292 '16,308
4,424 ' 4, 369
4,401
4,064
do
4,032
i 49, 821 i 49, 160
4,111
4,105
4,101
4,007
4,057
4,028
4,163
do
1110,454 1116,306
9,765 10, 148 10, 342 10,097 '10,024
9,685
9,663
9,630
9,555
9,713
9,529
9,614
6,117 ' 6, 412
do _ i 75, 275 1 75, 520
7,601
5,920
7,249
6,560
6,230
6,374
5,685
6,230
5,760
7,047
4,325 ' 3, 991
do
4,314
3,231
3,706
i 52, 058 i 47, 308
3,712
3,962
4,503
4,077
4,288
3,830
4,333
3,375 ' 3, 491
do
4,115
3,415
i 39, 413 138.812
3,249
2,951
3,111
3,099
3,305
2,991
3,293
2,976
'18,942 '19,145
do
1214,255 '1212,880 '16,980 '17,347 '17,630 '17,624 '18,459 '17,729 '17,984 '17,449 '18,629 '18,491
do
do
do
1
21, 318 i 21, 799
i 40, 469 i 42, 103
1
56, 770 i 55, 693
1,712
1,728
1,748
3,865
3,273
3,235
4,443
4,607
4,315
!
, 3 x
Based on data not seasonally adjusted.
2 Advance estimate.
9 Includes data for items not shown separately.
cfSee corresponding note on p. S-5.
©Includes textile mill products, leather and products, paper and allied products, and printing
and publishing industries; unfilled orders for other nondurable goods industries are zero.
24, 263
3,591
1,886
2,108
3,590
3,455
7,327
3,067
24,771 '24,829
4,013 ' 4, 315
2, 322 ' 2, 560
2,313 ' 2, 258
3,807 ' 3, 524
3,335 ' 3, 541
6,562 ' 6, 402
2,327 ' 2, 487
26, 111
3,786
2,043
2,382
3, 649
3,424
7, 961
3,982
22, 945
6,234
16,711
4,355
10, 282
8,060
4,054
3,589
18,716
1,904 ' 1, 920 1,885
2,020
1,857
1,906
1,814
1,859
1,810
1,829
5,196
3,331 ' 3, 771
3,973
3,063
3,712
3,641
2,841
4,093
4,201
4,614
4,866 ' 4, 494
4,827
4,791
4,614
4,665
5,058
4,794
4,853
IfFor these industries (food and kindred products, tobacco products, apparel and related
products, petroleum and coal products, chemicals and allied products, and rubber and plastics
products) sales are considered equal to new orders.
S-7
SURVEY OF CURRENT BUSINESS
May 1968
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of B USINESS STATISTICS
1966
Mar.
Annual
1968
1967
1967
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
Unfilled orders, end of year or month (unadjusted),
totalf
mil $
Durable goods industries, total
_do
Nondur. goods ind. with unfilled orders® f-_do
78, 449
75, 315
3,134
81, 628
78, 495
3,133
Unfilled orders, end of year or month (seasonally
adjusted) totalf
mil $
By industry group:
Durable goods industries total 9
do
Primary metals
do
Blast furnaces, steel mills
do
Fabricated metal products
do
Machinery, except electrical
do
Electrical machinery
do
Transportation equipment
do
Aircraft, missiles', and parts
do
79, 675
76, 415
6,909
3, 305
6,221
12,816
12, 279
32, 350
26, 056
Nondur. goods ind. with unfilled orders© J ..do
By market category:
Home goods, apparel, consumer staplesf-.do
Equip, and defense prod., incl. auto
do
Construction materials and supplies
do
Other materials and supplies^
do
Supplementary market categories:
Consumer durables
do
Defense products
do
Machinery and equipment
do
BUSINESS INCORPORATIONS^1
New incorporations (50 States and Dist. Col.):
Unadjusted » _
number
Seasonally adjusted
do
INDUSTRIAL AND COMMERCIAL
FAILURES d"
number
Failures, total
Commercial service
Construction
Manufacturing and mining
Retail trade
_
Wholesale trade... _ _
__
Liabilities (current) total
.
do
do
do
do
do
thous $
Commercial service
do
Construction
_
do
Manufacturing and mining
do
Retail trade
do
Wholesale trade .
do
Failure annual rate (seasonally adjusted)
No. per 10,000 concerns..
77,791
74, 795
2,996
77,633
74,609
3,024
82,872
77,093
79, 597
6,527
3,497
7,084
12, 626
12, 577
34,884
29, 733
74, 060
5,771
2,529
6,119
12, 359
12, 232
32, 009
26,649
3,260
3,275
2,208
42, 205
6,493
28, 769
81,217
78, 150
3,067
80,795 81, 628
77,676 78,495
3,119 3,133
82, 405 '82, 973 84,361
79, 265 '79,792 81,204
3,140 ' 3, 181 3,157
80,390
81,455
81,555 82,872
82,368 '82,552
83,452
77, 268
6,078
3,082
6,193
12,688
12, 700
33, 935
28,661
78,340
6,070
3,102
6,345
12,645
12,779
34,811
29, 509
78,396
6,233
3,201
6,499
12,747
12,604
34,555
29,314
79, 597
6,527
3,497
7,084
12, 626
12, 577
34,884
29, 733
79, 141
6,808
3,800
7,012
12, 581
12,326
34, 698
29, 596
'79,321
' 7, 352
' 4, 287
' 6, 910
'12,305
'12,396
'34, 712
'29,799
80,263
7,290
4,188
6,878
12,057
12,220
36, 205
31, 302
3,122
3,115
3,159
3,275
3,227 ' 3, 231
3,189
2,003
42, 574
6,579
28, 676
2,011
42, 692
6,501
29, 186
2,038
43, 786
6,630
29, 001
1,973
43,346
6,768
29,468
1,981
44,047
7,381
29,463
'1,959
'43,083
'7,128
'30,382
1,948
44,281
7,106
30, 117
1,479
34, 732
19, 124
1,511
34,288
19, 407
1,488
34, 687
19, 307
1, 540
35, 503
19, 278
1,505 1,515 1,460 '1,486
35,116 35, 433 35, 092 '35,305
19,306 19, 162 19, 105 '18,772
1,430
36, 724
18,429
18,591
17,799
15,415
16, 300
17,332
17, 674
16,222
18, 118
17, 233
18, 000
16,065
18, 403
17,525
18,168
20, 438
17, 223
17,910
18, 014
19, 520
17, 974
1,100
1,047
843
1,017
913
949
881
831
844
832
1,021
119
193
157
515
116
105
180
163
500
99
82
132
129
405
95
98
159
172
490
98
93
152
145
431
92
108
197
130
426
88
102
166
133
393
87
104
158
133
347
89
90
159
149
354
92
85
129
142
388
88
119
188
143
472
99
88, 593
79,927
76,908
3,019
77,701
74, 679
3,022
78,703
75, 732
2,971
77,014
77,869
79,044
79,662
79,832
74,016
5,569
2,487
6,176
12,335
12,206
32,237
26,971
74,973
5,741
2,716
6,189
12,376
12, 133
33, 066
27,667
76, 185
5,870
2,847
6,205
12, 449
12, 230
33, 929
28, 646
76, 710
5,935
2,936
6,116
12,426
12,341
34, 453
29, 024
76, 801
5,886
2,890
6,277
12, 699
12, 558
33,826
28, 520
3,033
2,998
2,896
2,859
2,952
3,031
1,981
44,047
7,381
29, 463
2,037
40,886
6,454
27, 716
2,022
40,709
6,513
27, 770
1,946
41, 522
6,482
27, 919
1,960
42, 517
6,450
28, 117
1,943
42, 662
6,424
28, 633
1,704
31,765
19,614
1,515
35,433
19, 162
1, 526
32,268
18, 909
1,520
32,552
18,830
1,485
33, 253
18,898
1,519
34, 309
19,047
200, 010
206, 569
19, 036
16,244
16, 511
16, 760
18, 700
17,627
13, 061
12,364
1,216
1,160
1,368
2,510
1,852
6,076
1, 255
1,329
2,261
1,832
5, 696
1,246
128
227
190
557
114
125
238
149
519
129
80,231
77, 187
3,044
80,580
77, 510
3,070
1,919
43, 406
7,243
29, 800
72, 551 108, 901
93,943
81, 633
69,977 195,448 104, 491 79,602
185, 202
326, 376
352,861
344, 346
176, 874
144, 965
323, 680
325,869
334,279
136, 434
10, 086
38,928
29,321
32, 652
8,335
9,767
29, 058
27, 489
25, 367
12, 136
10, 280
16, 046
26,912
26,307
13,825
6,896
26, 912
26,062
27,931
16,842
4,690
16, 191
27, 100
17, 062
7,508
12, 310
12, 758
33, 294
37, 861
12, 678
6,344
11, 536
29, 177
37, 769
9,117
11, 052
14, 192
14, 705
33, 652
8,032
7,025
15,780
20, 678
19, 110
7,384
45, 725
97, 868
25, 988
16, 380
9,487
7,398
23, 366
31, 131
20, 339
22, 257
6,913
19, 786
24, 377
19,048
9,478
10, 738
16, 924
24, 110
25,486
11,335
251.6
249.0
49.7
52.1
48.6
48.6
43.2
49.3
49.1
47.4
42.2
43.2
38.2
37.5
44.3
1,385,659 1,265,227 119,322 103,817
93,370 104, 643
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS
Prices received, all farm products
1910-14=100..
Crops9
._
do
Commercial vegetables
do
Cotton...
_
do
Feed grains and hay
do
Foodgrains..
do
Fruit
_ _
do
Tobacco
do
Livestock and products 9
_
do
Dairy products
do
Meat animals
do
Poultry and eggs
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)
191 0-14= 100. _
Parity ratio §__.
do
266
235
288
215
181
185
243
553
292
293
356
161
252
224
284
191
174
177
227
554
276
304
335
132
250
224
276
173
186
189
199
561
272
300
323
144
245
223
305
173
183
185
193
558
264
291
319
130
252
221
276
167
183
188
197
558
279
288
351
126
255
227
322
169
184
179
217
558
279
288
353
123
257
225
326
178
178
167
203
558
285
292
358
133
256
224
277
186
166
169
256
560
283
302
352
128
252
217
242
180
167
167
266
537
283
312
344
133
251
224
252
230
160
173
263
537
275
320
330
122
250
227
275
257
154
168
250
544
269
321
316
122
253
231
288
233
160
169
277
557
272
321
318
129
255
232
362
189
162
170
284
559
274
316
324
132
258
229
344
168
165
173
287
560
282
314
342
131
259
231
343
164
165
173
313
559
283
309
345
132
259
233
360
166
164
167
313
561
282
304
348
127
297
315
285
302
321
287
300
319
287
-•300
'319
'287
302
320
289
303
321
290
304
323
291
303
323
289
303
323
289
304
324
289
302
325
286
303
325
287
304
327
288
306
329
290
'307
330
'291
309
333
292
334
80
342
74
339
74
340
72
341
74
342
75
344
75
342
75
343
73
344
73
343
73
344
74
346
74
348
74
350
74
353
73
115.0
115.3
115.6
116.0
116.5
116.9
117.1
117.5
117.8
118.2
118.6
119.0
119.5
114.6
115.4
113.8
110.0
112.9
111.8
102.9
97.2
115.9
114.8
115.9
114.1
110.2
113.0
112. 4
103.4
97.0
118.8
118.2
118.5
117.7
116.7
117.1 117.5
115.6
116.1
116.5
115.1
119.7
119.3
118.2
117.7
118.9
118.7
116.5
116.8
116.3
117 1
117.6
117.3
115.8
116.2
116.8
116.5
115.2
114.4
114.8
115.6
113.2
113.5
112.4
112.0
112.6
112.9
111.5
111.0
111.9
110.5
116.4
116.0
114.9
115.6
115.1 115.3
114.3
113.8
113.2
114.8
115.6
115.1
114.1
115.2
114.5
115. 2
112.7
112.8
112.7
113.2
106.4
106.3
106.1
104.8
106.0
104.1
104.4
105.7
103.9
104.7
101.0
100.8
101.3
96.1
101.1 101.4
96.8
96.9
97.0
96.9
123.6
125.8
126.2
126.0
125.6
124.8
122.4
124.8
121.4
125.2
c? Compiled by Dun & Bradstreet, Inc. (failures data are for 48 States and Dist.
§ Ratio of prices received to prices paid (parity index).
CONSUMER PRICES
(U.S. Department of Labor Indexes)
Unadjusted Indexes:
All items
1957-59=100.
113.1
116.3
Special group indexes:
All items less shelter
do
112.9
115.9
All items less food
do
113.0
116.8
All items less medical care
do.--_
112.3
115.0
Commodities
do
111.2
109.2
Nondurables
do
111.8
114.0
Nondurables less food
do.
109.7
113.1
Durables9
do
102.7
104.3
New cars.
do
97.2
98.1
Used cars
do
117.8
121.5
'Revised.
1 Advance estimate.
2 Based on unadjusted data.
5 ?ee.n<>te marked "p*'' on p. S-5.
© See corresponding note on p.
9 includes data for items not shown separately.
119.1
120.2
118.1
113.9
116.9
116.1
106.6
100.6
Col.).
S-8
May 1968
SUEVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
1967
1968
1967
Annual
Mar.
Apr.
May
June
July
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.*
COMMODITY PRICES—Continued
CONSUMER PRICES— Continued
(U.S. Department of Labor Indexes— Continued)
Unadjusted indexes— Continued
Special group indexes— Continued
Cotnmodities less food
1957-59^-100
Services
do
Services less rent __ _ .
do
Food 9
_
__do
Meats, poultry and
fish
do
Dairy products
do
Fruits and vegetables
do
Housing
do
Shelter 9
_ ._
_
do
Rent
do
Home ownership
do
Fuel and utilities 9
do
Fuel oil and coal
do
Gas and electricity
do
Household furnishings and operation do
Apparel and upkeep
do
Transportation
do
Private
do
Public
do
Health and recreation 9
do
Medical care
.
__ -_ do-_
Personal care
do
Seasonally adjusted indexes:
Food
- do
Apparel and upkeep
do
Transportation
do
WHOLESALE PRICEScf
(U.S. Department of Labor Indexes)
Spot market prices, basic commodities:
22 Commodities...
1957-59=100 ,
9 Foodstuffs
do
13 Raw industrials
_
__
do
All commodities
By stage of processing:
-
do
1 109. 5
1
101.9
1 115.2
105.9
1/-IK o
118.1
117.8
119.5
95.1
89.5
99.1
96.2
90.7
100.1
96.1
90.9
99.8
96.4
92.2
99.5
97.0
92.7
100.1
96.0
92.8
98.3
106.8
107. 2
108.0 ••108.2
108. 4
115.3
113.9
115.9
115 0
114.2
116 0
115. 8
114. 3
116.3
115.6
114.9
117.0
115.8
115.4
117.3
98.1
!94 7
100 4
100.0
96 3
102.5
98.1
95.3
100.1
99.0
98.1
99.6
98.8
97.3
99.8
97.1
95.4
98.3
96,7
98.1
95.9
93.4
97.8
95.0
91.2
97.7
106 1
105.7
105 3
105.8
106.3
106.5
106.1
106.2
106.1
no c
Q7 Q
105.4
101. 7
105.4
108.7
QQ ^
1
1
107 Q
96 5
105.9
IflR Q
98 6
106.3
1f)R fi
IftQ ^
107.9
105.8
107.9
104. 8
106 8
108.1
105.6
108.2
104.8
107 1
108.4
105.8
108.7
104.2
107 1
109.0
105.3
109.1
104.0
107 2
109.3
105.2
109.5
104.8
107 6
109.6
105.6
110.2 ••110.8
105.9
105.0
108.1 r 108. 6
110.9
110.3
106.4
105.9
106.8
107.3
105.2
105. 3
104.1
103.4
104.8
105. 3
106.8 ' 106. 9
107. 0
100.7
104.4
98.0
85 6
102.6
102.4
114.3
96.1
85 7
104.9
102.8
107.9
92. 6
91 9
107.4
99.2
96.6
86.1
77.3
106.3
98.4
92.2
85.6
72 9
103.5
97.1
91.6
86.6
73 8
101.8
96.4
102.9
81.3
65.6
96.2
98.9
105.0
85.4
68.2
97.6
99.0
108.1
85.0
78.2
98,7
101.3 ' 102. 1
114.5
112.5
85.1
86.3
81.4
87.0
105. 7
102,7
101.7
110.0
105.9
117.2
120.1
104.3
100.6
110.7
106.0
117.4
120.8
105.1
103.8
112.6
106.3
117.2
122.2
106.5
108.3
113.1
106.4
116 9
122.0
107.0
109.9
112.1
111.7
107.3
116.8
123.0
109.3
104.7
110.9
111.5
116.9
124.1
113. 1
103.2
113.3
108 6
117.4
124.0
o
113.3
117.0
123.0
112.0
102.2
112.4
107 9
117.1
123.8
r 112. 9
116.8
122.1
107. 1
107.4
112.7
106. 7
116.6
122.8
107.9
108.6
105,5
107.6
m
m
107.0
106.0
106.0
106.0
106.0
106.3
106.5
106.8
107. 1
107.4
107.8
108.3
108.6
98 4
98.3
93.8
77 2
112.2
98 2
99 5
98.5
92.9
76 4
113.2
98 1
100 6
98.5
93.0
76 7
113.2
98.6
101.2
98.7
93.4
80.0
114.1
108.2
105.3
107.7
104.8
107.8
104.6
107.7
105.6
do____
108.9
105.2
104.6
103.4
105.0
Farm products 9
do _ _ _
Fruits and vegetables, fresh and dried-do
Grains
..
do ...
Live poultry
do
Livestock
do
105.6
102.5
97.3
91 4
110.0
99.7
101.6
92.2
82 2
'101.1
99.6
98.4
99.9
90 8
97.4
97.6
99.6
98.3
89 0
94.0
Foods and feeds, processed 9 - Beverages and beverage materials
Cereal and bakery products
Dairy ^roducts
Fruits and vegetables, processed
Meats, poultry, and
fish
do
do .__
do
do__do
do__.
113.0
105.8
115.4
118.5
104. 8
110.2
111.7
106.5
117.1
122.0
107.2
105. 0
110.6
105.6
117.5
120.7
104.2
101.7
-do
104. 7
106.3
106.0
98.5
105.9
97.0
94.4
81. 5
108.8
98.8
105.2
97.6
94.0
85.3
108.8
10fi c
106.8
98.4
103.6
97.4
94.0
81.3
109.3
Fuels and related prod., and power 9 d o _ _ _
Coal
do
Electric power
Jan. 1958=100Gas fuels
-do_ ,
Petroleum products, refined
1957-59=100-
98.6
100.3
129.3
99.5
103. 6
103.2
100.7
133.6
102.2
102.2
100 6
134.6
102.4
103.3
102.7
100.6
134.8
101.7
Furniture and household durables 9
Appliances, household
Furniture, household
_
Home electronic equipment
do
do. _
_do-_
do_ _
99.1
89.1
109.1
83.6
101.0
90.1
112.8
82.5
100.6
89.8
112.4
83.3
100.6
89.8
112.4
83.3
100.8
89.7
112.4
82.9
100.8
90.0
112.4
82.0
100 9
90 1
112.6
81.8
Hides, skins, and leather products 9
Footwear
Hides and skins
Leather
Lumber and wood products
Lumber
do___
do _
do_ _
do. _
do___
do
119.7
118.2
140.8
121.1
105.6
108.5
115.8
116.9
121.7
98.9
114.6
103.6
106.0
115.7
121.5
88.3
112.9
104.1
106.6
115.2
121.4
87.2
110.9
104.2
107.0
115.6
121.5
95.8
110.2
104.7
108.0
115.2
121.4
93.4
109.5
105 3
108.3
94.0
110.5
105.4
108.4
111.4
105.9
108.9
111. 5
106.3
105.7
do _
do __
r 12?,. 1
101. 6
107.7
110.4
105.7
107.6
105. 6
97.8
102.8
95.7
94.5
100.9
107.4
r
!10.2
1flR *7
107.5
105.4
do
do ...
106.2
•j no q
107.5
104.6
TOR ^
107.7
105.0
104.8
946
111 1
99 1
106.7
109 7
107.6
103.7
105.4
m
108.8
102. 6
100.6
135.0
103.7
102.4
100.5
134.3
103.1
103.9
103.0
100.6
131 8
103.3
105. 1
97.2
94.1
108.8
111.6
111.6
121.8
121.9
121.9
122.1
.101.8
101.7
123.6
123. 9
commodities.
QQ 0
QR fl
98 3
103, 5
97.2
94.1
77. 1
108.8
105.2
97.5
94.1
111.5
108.2
111.8
111.6
Machinery and equipment 9
do
111.6
122. 3
121.8
118. 6
121.9
121.8
Agricultural machinery and equip
do___
121.9
118.9
122.7
121.5
121.8
Construction machinery and equip
do
102.2
99.0
102.3 101.9
101.8
Electrical machinery and equip!
do__~
122. 6
123. 6
122.9
118.8
123.8
Metalworking machinery and equip
do-__
••Revised.
* Preliminary.
1 Computed by QBE.
9 Includes data for items not
shown separately.
cf For actual wholesale prices of individual commodities, see respective
117.4
117.1
119.1
114 5
113.7
115 6
118 Q
1 f!7 7
107.6
104.2
do
do...
do___
do ,.
-do __
do._.
do__.
117.2
116.6
118, 5
113 9
113 1
115 3
mi
113 0
115 1
113 2
130 6
122 6
135 1
114 9
108.0
104.7
Chemicals and allied products 9
Agric. chemicals and chem. prod
Chemicals, industrial
Drugs and Pharmaceuticals
Fats and oils, inedible.
Prepared paint...
116.4
116. 2
117.7
111.1
129.6
133.2
115.6
111.4
117.8
116.7
115. 5
119.4
113.2
121.9
109.3
112.7
109.0
109 3
116.6
118.3
116.2
134. 6
126.2
139.7
116.9
122 0
106.0
105.6
105 7
106.0
105.3
Industrial commodities
116.1
115.9
117.8
1 1Q 4.
113 8
115 5
113 6
130 9
122 8
135 7
115 0
11Q fi
110 6
129.1
132.7
115.7
112.3
117.9
115.3
115.3
119. 0
113.0
121.5
109.4
112.5
108.9
109 1
116.0
117.7
115.7
133.0
125.5
139.0
116.5
121 4
108 7 '
127 0
130 4
113 9
108 5
115 9
116 4
113 9
117 5
112 1
119 7
108 7
110 8
108 3
100.6
105.3
107.6
Farm prod., processed foods and feeds
111.9
132.1
136.1
117.9
113.1
118.7
126.1
117.2
121.0
114.2
123.8
109.9
113.9
109.3
111.8
117.6
119.0
116.7
137.1
128.3
142.9
118.4
124. 2
110.0
128.7
132.3
115.9
113 4
117.3
115.6
115.0
118. 7
112.8
121.1
109.4
112.3
108.9
108 8
115.1
116.8
114.8
133.0
124.9
138.5
116.4
120 5
108 4
126 6
130 0
113 7
109 0
115 7
114 2
113 6
116 9
111 9
119 0
108 8
111 0
108 4
98.0
105.5
107.0
Durable manufactures
Nondurable manufactures
111. 5
131.3
135.2
117. 4
112.0
118.5
124.9
116.9
120.8
113.9
123.5
109.8
113.8
109.3
111. 2
116.6
118.6
116.4
136.2
127.5
141.9
117.6
123.0
109 4
128 2
131 7
116 6
113 1
116 6
122 7
114 7
118 4
112 6
120 8
109 1
111 7
108 5
108 3
113 8
116 4
114 4
132.8
124 2
137.5
116 1
120 0
107 8
126 3
129 5
114 2
110 0
115 7
115 2
113 3
116 6
111 8
118 6
108 7
111 1
108 3
107 3
112 6
114 2
112 2
130 5
122 2
134 6
114 4
99.7
105.5
107.2
By durability of product:
Durable goods.
Nondurable goods.
111.2
130.8
134.6
117. 0
111.6
118.5
124.1
116. 4
120.2
113.7
122.9
109. 5
113. 7
108.9
110 6
115.9
118.7
116.6
135.5
127.1
141.2
117.6
122 7
109 1
127.7
131.2
116 0
112 3
116 4
124 4
114 3
117.9
112 4
120. 2
108 9
111 4
108 3
108 2
113 7
116 2
114 1
132 7
123 6
136.9
115 5
119 8
109 2
127 7
131 1
115 2
111 2
116 7
117 5
114 3
117 9
112 4
120 2
109 0
111 6
108 5
ins 9
114 0
115 9
113 9
132 1
123 8
136 7
115 5
99,6
105.6
108.2
Intermediate materials, supplies, etc
130.1
133.8
116.2
111 2
118 1
119.6
116.0
119.9
113.5
122.6
109 3
113.1
108.7
109 7
116.8
117. 9
115.8
134.9
126.6
140.4
117.2
122 2
108 9
127 4
130.8
115.1
111 6
116 3
119.9
114.1
117.7
112 2
119.9
108 6
110 5
108 2
108 1
113 9
115 7
113 7
132.2
123 2
136.3
115 3
119 7
114 3
112.9
114 5
106 5
122 3
125 0
114.2
114 1
111 8
117 6
111 1
114.1
110 4
115 7
107 7
108 3
108 1
105 0
109 6
112 7
111 0
125 8
119 0
127.7
112 2
117 1
108 9
117.4
123.3
A
97.1
93.5
98.3
93.6
mi 7
98.3
93.7
108.8
109.9
109.9
109.9
104 7
103.0
100.5
132.0
104.6
104.1
100.7
132.6
103.9
103.8
100.8
132.7
101.0
104.8
100.9
132.8
100.4
102 6
104.9
100.9
133.1
99.9
101 8
105.0
101.0
130.0
98.8
102 5
105.0
101.1
133. 3
99.5
102.0
105.5
101.2
101.0
90.1
112. 8
81.8
101.2
90.3
113.0
81.6
101.7
90.5
113.4
82.1
102.0
90.8
114.3
82.2
102.1
90.9
114.3
81.8
103.0
91.1
115.2
81.7
103.3
91.6
115. 7
81.7
103.6
91.9
116.0
81.6
11 K A.
121.8
93.2
105. 3
108.7
112.0
123.6
86.8
104.7
107.3
111.2
123.7
90.4
116 0
124.3
89.7
nfi ^
125.6
87.3
116 7
125.5
89.5
106.7
110.9
107.6
111.8
108.6
114.0
111.6
117.1
117 9
125.6
99.3
110 3
113.9
120.3
113.2
124.9
126.3
102.3
113.9
125.8
127.2
102.7
114.1
125.8
127.7
102.7
126 6
114.3
126.1
128.3
102.6
127 3
o
97.1
93.6
77 9
m
77 1
109 8
A
121.2
86.8
106.1
109.0
77 Q
112.6
112.2
111.8
111.9
123.8
122.2
122.0
122.3
125. 3
122.4
122.4
124.3
101.6
101.5
101.5
101.6
•JOK A
124.4
O Goods to users, incl. raw foods
109 9
1 9^ ft
and fuels.
1 9fi 1
IflR Q
99. 5
108.8
May 1968
S-9
SURVEY OF CUEEENT BUSINESS
1966
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
Mar.
Annual
1968
1967
Apr.
May
June
July
Sept.
Aug.
Oct.
Jan.
Dec.
Nov.
Feb.
Mar.
112 8
93.8
105.8
128.8
Apr.
113.9
94.3
105.5
133.3
COMMODITY PRICES—Continued
1
WHOLESALE PRICES^ — Continued
(U.S. Department of Labor Indexes— Continued)
All commodities— Continued
Industrial commodities— Continued
Metals and metal products 9
1957-59 — 100
Heating equipment
do
Iron and steel __
do
Nonferrous metals
_
do
IflQ n
92 5
102 3
120. 9
109 5
92 6
103.6
120.6
109 4
92 2
103 3
121 1
109 1
92 0
103 2
120 0
92 0
103 2
118*9
108 9
92 5
103 3
118 7
92 6
103 4
118 6
109 2
92 5
103 5
118 9
109
92
104
119
6
7
0
4
109 8
92*9
103 9
120.7
110 5
93.3
104.3
122.7
111 0
93.4
104.7
123.7
111 7
93.1
105.5
125.1
Nonmetallic mineral products 9
do
Clay prod., structural, excl. refractories
/ do
Concrete products _
do
Gypsum products
do
Pulp, paper, and allied products
do
Paper
do
Rubber and products _ _ _
do
Tires and tubes
do
102 6
104 3
103 8
103 9
103 8
103 9
104 2
104 5
104 7
104 9
105 1
105 3
106.0
106 9
107.3
108
103
102
102
107
94
93
110 1
105.3
102 4
104 0
110 0
97.0
96 2
109 3
104 5
102 3
103 6
108 5
95 9
94 9
109 4
104 6
102 3
103 9
109 3
95 9
94 0
109 7
105 2
102 3
103 9
109 5
95 8
94 0
109 7
105 7
100 9
103 9
109 6
95 8
94 0
109 9
105 8
100 7
104 1
110 9
95 8
94 0
110 4
105 8
100 7
104 0
110 9
97 8
98 7
110 7
105 9
100 7
104 1
110 9
98 2
98 7
110 7
105 9
103 9
104 3
111 2
98 8
98 7
111 1
105. 6
103 9
104 6
111.2
99.1
98 7
111 6
105.8
103 9
104 8
111.2
99.2
98 7
111 8
106.5
103.9
105.2
111.2
99.5
98.7
111 9
106. 8
105 1
105.7
111.9
99.5
98 7
112. 0
107.0
105. 1
105.2
111.9
99.7
98.7
Textile products and apparel 9 _
Apparel
Cotton products
Manmade fiber textile products
Silk yarns
Wool products
102 1
105 0
102 5
89 5
153 6
106 0
102.1
86.8
171 9
103 2
101 8
106 0
101 3
86 9
164 1
104 0
101 8
106 2
100 8
86 8
164 5
102 9
101 6
106 3
100 3
86 3
167 0
103 1
101 6
106 7
99 7
85 8
167 0
103 2
101 5
107 1
98 9
85' 5
168 4
103 3
101 7
107 3
98 8
85 9
172 6
102 9
102
107
99
86
175
102
0
4
2
3
7
7
102 2
107 5
99 1
86 9
179 5
102 8
103.0
108 0
101 2
88 1
183 9
102 2
103.8
108 1
104 2
88 6
189 7
102 2
104. 3
108.3
105.2
89.3
196.8
102. 3
104.6
108 8
105 0
89 6
197 2
102 8
104.6
109.1
105.0
89.3
196 3
103.1
100 8
106 8
104.1
109 6
102.1
109 2
105.6
112 9
101 6
107 7
104 0
110 3
101 6
108 0
105 2
110 3
101 6
108 0
105 3
110 3
101 4
109 6
105.3
114 8
101 3
109 7
105 6
114 8
101.3
110 0
105.8
114 8
101 5
110 2
106.1
114 8
103 7
110 5
106. 3
114 8
104.0
110 6
106.3
114 8
104.0
110 7
106. 4
114 8
104.3
111. 0
106.7
114 8
104. 3
111 3
106.6
114 8
104. 3
111. 5
107. 4
114 9
$0.945
.884
$0.943
860
$0.946
870
$0.950
867
$0.945
865
$0. 941
862
$0.939
858
$0. 943
855
$0. 942
854
$0. 943
851
$0.942
849
$0. 936
846
$0.933
843
7 117
6 844
6, 204
5,420
Transportation equipment 9
Motor vehicles and equipment
Miscellaneous products 9 . _
Toys, sporting goods, etc
Tobacco products
108 3
do
do
do
do
do
do
... __do .
—do
do
do._—
do
4
0
4
6
3
8
3
r 106 9
r 100 7
108 Q
r
PURCHASING POWER OF THE DOLLAR
As measured byWholesale prices....
Consumer prices.
..
1957-59=$!. 00_.
do
$0.926 ' $0.924 $0. 923
840
837
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE
New construction (unadjusted), total _
mil. $
74, 371
74, 936
7 119
r
5, 049
5,734
23, 815
17, 964
49 583
23 579
17 884
3 356
1 422
1 022
3 673
1 642
1 188
4 023
1 868
1 380
4 316
2 110
1 599
4 532
2 280
1 732
4 696
2 384
1 810
4 778
2 377
1 835
4 757
2 345
1 848
4 662
2 325
1 857
4 353
2 182
1 742
r 3 557
3 766
1 869 r I 685
1 466 r i 307
3 882
1 869
1 464
18, 607
6,703
6,890
1, 225
18 108
6 151
6 991
1 357
*473
1 419
1 501
1 509
1 554
1 589
1 678
1 665
1 616
1 489
1 340 r i 321
>398
432
r
525
542
1 409
1,600
1 629
139
23, 925
25 353
1 819
Private, total 9
do
Residential (nonfarm)
___
do
' New housing units
do "
Nonresidential buildings, except farm and public utilities, total 9
_._ _
mil. $
Industrial.
.do
Commercial
___
do
Farm construction
do_.
Public utilities:
Telephone and telegraph. . ...
do
50, 446
Public, total 9
5 175
512
5 740
464
557
6 306
499
597
6 674
515
577
6 982
541
593
530
597
7 193
592
626
547
663
494
677
522
573
437
572
127
138
151
134
142
146
147
149
145
104
120
140
2 067
2 283
2 358
2 450
2 423
2 415
2 360
2 182
1 851
1 654
1 492
1 852
738
58
28
45
546
818
68
27
44
668
890
73
42
46
784
917
58
45
57
858
925
56
34
64
939
911
57
30
70
910
902
61
37
71
883
882
63
37
71
840
854
60
40
73
704
36
70
39
56
38
52
41
51
73 1
72 0
73 9
72 4
73 4
74 4
76 9
77 5
78 4
78 4
80 5
r 81 4
81 0
46 9
46 0
47 8
48 1
49 2
50 2
51 7
52 2
52 6
52 4
54 5
r 55 1
54 6
20 8
21 1
22 1
22 9
23 7
24 6
25 3
26 0
26 6
26 9
26 9
r 27 0
27 4
18.2
61
17 3
56
69
17 8
60
71
17 3
59
67
17 6
62
6 7
17 6
60
6 4
18 4
66
6 7
18 3
62
18 0
5 6
72
17 4
59
6 7
19 6
6 3
7 9
r 19 8
7.2
18 9
56
80
1.7
1.5
1.7
17
16
16
17
17
17
16
1.6
17
1 7
26 2
25 9
26 1
24 3
24 2
24 2
25 2
25 3
25 8
26 0
26 0
26 3
26 5
9.8
.8
.3
.6
9.1
9.9
9
.3
.6
9.0
10.1
9
.4
.5
8.9
9.8
7
.5
.6
8.2
9.9
9 9
6
4
7
10 2
10 2
10 5
.5
.8
5
.9
.5
.8
.5
.9
.5
.7
80
80
83
82
80
53, 446
4 424
4,389
5,095
5,414
4,879
5,104
4,695
5 053
4,258
3, 714
3, 704
5,417
2153
149
138
154
164
149
165
168
171
168
166
159
156
176
1
Public ownership. _
mil. $
18, 152
1 498 3 275
20 709
1 509
1
Private ownership.
,
do
31, 998 32 737
2 916
2 891
1,820
By type of building:
Nonresidential-. ..
do
1 19 393 20 418
1 714 1 830
1 ^808
1
Residential f
.
do
17, 827 19 695
1 627
2 002
1 584
Non-building construction
do
1 12, 930
1,127
931
13, 333
1,285
New construction planning
(Engineering News-Record) 6
..do
52.112
59. 944
4.781
3.359 r 4. 143
r
Revised.
* Preliminary.
i Annual total includes revisions not distributed to
3
months.
2 Computed from cumulative valuation total.
See note "If" for this page,
c? See corresponding note on p. S-8.
9 Includes data for items not shown separately.
1 Beginning Jan. 1968, data are not entirely comparable with those for earlier periods; new
2 169
3,245
1 989
2 890
1 824
3 280
1 677
3 018
1 527
3 527
1 435
2 823
1 507
2 490
1 300
2 414
1 041
2 664
1,698
3,719
2 070
2 000
1,344
1 749
1 829
1,302
1 847
1 912
1,345
1 786
1 741
1, 169
1 874
1 887
1,292
1 586
1 717
1 550
1 404
1,042
1 347
1 462
956
5.809
fi.829
5.506
4. 053
4. 032
4.295
5. RQfi
_._.
do
Buildings (excluding military) 9
do
Residential.
i
do
Industrial
.
do
Military facilities
..do
Highways and streets
do
New construction (seasonally adjusted at annual
rates), total
bil $
Private, total 9
____
8,921
653
369
713
8,359
412
705
do
Residential (nonfarm)
do__
Nonresidential buildings, except farm and public utilities, total 9
bil. $.
Industrial
do
Commercial
do
Public utilities:
Telephone and telegraph
do
Public, total 9
do
Buildings (excluding military) 9 ...
do
Residential
__.
do
Industrial
.
_....
do
Military facilities
do
Highways and streets
do
CONSTRUCTION CONTRACTS
Construction contracts in 48 States (F.W. Dodge
Co.):
Valuation, total ^
.
mil. $
Index (mo. data seas. adj.)..
297-178
O - 68 - 4
1957-59=100
1
50, 150
2
145
Q
6
5
7
70
6
4
.8
3
5
.8
C
3 996
3
3
58
r 8 5
1 251
1 495
905
958
1,835
2,220
1,362
3.492
5. 040
3.930
2. 835
compilation method raises the level of residential data by 8 percent and the total valuation
by 3 percent.
§ Data for Mar., June, Aug., and Nov. 1967 and Feb. 1968 are for 5 weeks;
other months, 4 weeks.
« Corrected.
SURVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
| 1967
Annual
May 1968
1968
1967
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
CONSTRUCTION AND REAL ESTATE—Continued
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total, incl. farm (private and public). __thous. . 1,196.2 1, 321. 9
One-family structures
do
779.5 •- 844.9
Privately owned
do
1,165.0 1, 291. 6
Total nonfarm (private and public).
do
In metropolitan areas _
do
Privately owned
. . do
Seasonally adjusted at annual rates:
Total, including farm (private only)
Total nonfarm (private only) _ _
115.9
79.9
113.7
134.2
87.4
132.0
131.6
87.7
125.4
126.1
82.4
125.3
130.2
83.8
127.4
125.8
78.2
121.9
137.0
81.8
135.4
120.2
69.1
118.4
'83.1
47.1
80.1
82.7
'45.3
80.5
'87.2 ' 127. 8
'55.1
57.8
'84.6 ' 125. 7
167.9
90.7
62.6
89.2
114.2
77.4
112.0
131.9
91.7
129.7
129.6
87.9
123.4
124.9
87.7
124.0
126.5
89.8
123.6
123.4
88.3
119.5
134.6
99.0
133. 1
118.6
84.9
116.8
82.1
63.6
79.1
82.0
'63.5
79.8
'85.3 ' 125. 1
'61.1
90.1
'82.8 '123.0
164.9
1,094
1,067
1, 172. 8
807.3
1, 141. 5
92.9
66.6
91.5
1,116
1,099
1,274
1,254
1,233
1,214
1,369
1,356
1,407
1,381
1,445
1,415
1,496
1,478
1,590
1,567
1,250
1,235
1,456
1,430
' 1, 537 ' 1, 500
'1,499 '1,468
1,620
1,590
1,079
613
928
558
1,028
578
1,033
601
1,109
630
1,093
626
1,127
639
1,159
638
1,212
673
1, 158
625
1,323
702
1,102
630
1,360 '1,376
690
'697
1,297
647
127
123
123
124
126
128
129
129
129
129
129
130
130
130
899
982
997
890
912
909
982
997
891
912
915
995
1,013
923
912
917
998
1,015
924
912
919
1,001
1,016
928
912
922
1,019
1,019
928
912
930
1,024
1,025
933
916
932
1,025
1,026
937
919
937
1,033
1,044
941
923
938
1,033
1,044
943
923
940
1,047
1,044
943
923
945
1,053
1,048
944
927
135
1, 298. 8
919.7
1, 268. 4
_ do
do
New private housing units authorized by building
permits (12,000 permit-issuing places):
Seasonally adjusted at annual rates:
Total
_
thous
One-family structures
do
972
563
164.4
161.4
CONSTRUCTION COST INDEXES
Dept of Commerce composite
American Appraisal Co., The:
Average, 30 cities
Atlanta
New York
_
San Francisco
St. Louis
1957—59 — 100
1913—100
do
do
do
do
Associated General Contractors of America, Inc.,
The (building only)
1957-59=100
121N
867
941
963
867
852
909
992
1,008
910
903
891
970
997
890
883
891
972
997
890
882
127
132
129
129
130
131
133
133
133
134
134
134
134
134
135
E. H. Boeckh and Associates, Inc.: J
Average, 20 cities:
All types combined
1957-59=100..
Apartments, hotels, office buildings
do
Commercial and factory buildings
do
Residences
do
122.1
123.2
122.2
120.1
129.8
130.7
130.2
127.4
125.5
126.3
125.8
123.1
125.8
126.6
126.1
123.3
127.0
127.9
127.3
124.8
130.1
131.2
130.2
127.9
131.9
133.0
132.2
129.4
132.3
133.4
132.6
130.0
133.3
134.1
133.8
130.6
133.6
134.5
134.2
130.9
133.8
134.7
134.3
131.2
133.9
134.7
134.4
131.2
133.7
134.6
134.2
131.1
134.1
135.1
134.6
131.6
134.6
135.5
134.9
132.4
Engineering News-Record: %
Building
Construction
123.4
134.1
127.4
140.8
125.1
137.3
125.1
137.3
126.4
139.4
127.3
140.5
127.8
141.9
128.6
143.3
129.3
143.7
129.7
144.2
130.1
144.3
130.4
144.5
131.4
145.7
131.8
146.5
132. 5
147.0
113.0
' 117. 6
113.2
157.6
' 153. 2
158.0
163.5
148.9
146.3
164.5
153.3
166.7 ' 150. 4 ' 180. 6 ' 162. 3 ' 167. 8 ' 150. 9 ' 133. 0
155.7 r 156. 1 '164.2 '155.8 ' 148. 4 ' 158. 1 ' 154. 8
169.0
155.0
189.8
163. 0
' 149. 6
186.6
171.3
164.8
148.5
164.2
145.3
167.1
182.4
156.3
208.0
177.0
152.6
226.9
156.4
131.7
225.4
187.6
165.7
266.6
162.2
155.5
234.2
172.1
163.9
239.3
161.4
152.0
182.2
147.6
'137. 0
127.5
'147. 1
152.5
'101. 5
158.8
153.0
167.2
99.2
124. 4
16.6
151
10.3
103
14.8
159
11.0
122
16.0
162
10.9
109
16.3
169
12.8
135
12.7
155
12.2
146
17.1
180
11.6
122
14.6
176
10.8
131
15.3
185
12.5
151
12.9
189
9.5
136
10.2
162
7.9
125
11.2
163
8.4
122
12.4
152
10.6
141
15.9
160
11.6
'127
14.7
144
12.3
125
388. 16
195.36
358. 98
184. 12
406.92
231. 28
508. 04
265. 88
501. 11
295. 92
653. 83
340.29
643 11
352. 10
665.33
434. 29
620. 86
382.91
457. 89
340.32
577. 59
348. 77
436. 34
279. 57
434.80
267. 29
470. 58
265.30
do
do
Bu. of Public Roads— Highway construction:
Composite (avg. for year or qtr.)___ 1957-59 =100..
120.6
119.2
123.0
112.3
i 132. 9
1 147. 6
CONSTRUCTION MATERIALS
Output index:
Composite unadjusted 9
Seasonally adjusted
1947-49—100
do
Lumber and wood products unadj
Portland cement, unadjusted
do
do
138.8
148.5
120.9
REAL ESTATE
Mortgage applications for new home construction:
Applications for FHA commitments
thous. units. _
Seasonally adjusted annual rates J.,..
do
Requests for V A appraisals
do
Seasonally adjusted annual rates J
do
Home mortgages insured or guaranteed byFed. Hous. Adm.: Face amount..
_ mil. $
Vet. Adm.: Face amount§
do
Federal Home Loan Banks, outstanding advances
to member institutions, end of period
mil. $..
New mortgage loans of all savings and loan associations, estimated total t
mil $
By purpose of loan:t
Home construction
do
Home purchase
do
All other purposes
.„
do...
Nonfarm foreclosures
Fire losses (on bldgs., contents, etc.)
number
6,095.32 5,884.64
2, 600. 53 3,404.87
6,935
4,386
5,175
4,782
4,421
4,302
4,221
4,153
4,122
4,114
4,188
4,386
4,442
4,348
4,269
16,720
19, 891
1,347
1,339
1,738
2,162
1,860
2,228
1,971
1,950
1,801
1,759
1,389
1,456
1,763
3,606
7,746
5,368
4,190
9,505
6,196
306
571
470
312
586
441
382
951
527
424
1,186
618
381
1,017
573
413
949
588
388
856
557
380
780
599
291
665
433
305
704
447
407
840
516
117, 473
110, 541
10, 584
153. 95
142.75
155. 58
400
779
559
435
1,046
681
' 9, 292 ' 9, 547 '10,121 ' 9, 030 ' 9, 254 '8,875
mil. $._ 1, 496. 76 1, 706. 72 149. 66
8,338
8,469
8,119
116.95
114. 79
115.21
127. 82
142. 86
143. 15
164. 04
144. 17
173. 25
DOMESTIC TRADE
ADVERTISING
Marketing/Communications advertising index, seasonally adjusted:®
Combined index
19*57 *5Q inn
Business papers
do
Magazines
do
Newspapers
do
Outdoor
do
Radio (network)
do
Television (network"") _
do
148
198
159
1AK
198
leo
•JOK
91
113
97
155
113
85
1QA
9ft*
911
130
160
121
111
117
1Q5
'Revised.
1 Index as of May 1, 1968: Building, 134.8; construction, 150.2.
* Corrected.
T Copyrighted data; see last paragraph of headnote, p. 8-1.
T Revisions for July-Dec. 1966 for ENR building and construction cost indexes: for 1960-66
129
157
112
78
118
1Q7
150
149
148
125
125
139
161
157
149
114
113
106
96
111
84
130
101
125
917
188
1Q7
90fi
215
210
209
(seas, adj.) for FHA applications and VA appraisals; and for Jan.-Nov. 1966 for new mortgage
loans will be shown later.
9 Includes data for items not shown separately.
§ JJata
include guaranteed direct loans sold.
0 Formerly Printer's Ink advertising index.
•tAA
145
126
160
111
94
124
124
153
104
119
105
•tAK.
121
150
113
95
114
152
130
162
113
88
125
May 1968
SURVEY OF CURRENT BUSINESS
1966
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
S-ll
1968
1967
1967
Annual
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
Apr.
DOMESTIC TRADE—Continued
ADVERTISING— Continued
Television advertising:
Network (major national networks) :
Net time costs, total
Automotive, incl. accessories
Drugs and toiletries
Foods, soft drinks, confectionery
Soaps, cleansers, etc
__
Smoking materials
Allother
mil. $_
do
do
.do...
do
do..
do-
1,411.3
106.7
429.8
274.0
131.5
161.4
308.0
1,499.9
115.8
429.0
306.8
134.3
183.1
331.0
403.0
29 5
122.8
86.9
37 5
48.3
77.8
Magazine advertising (general and natl. farm magazines) :
Cost, total
mil $
Apparel and accessories
do.
Automotive, incl. accessories
.do...
Building materials
_
do
Drugs and toiletries
do
Foods, soft drinks, confectionery
___do___
1,166.7
68.1
123.5
34.5
134.4
125.4
1, 161. 6
60.7
103.7
31.0
148.4
116.1
106.4
6.8
10.9
3.8
11.5
11.0
110.9
8.3
10.2
4.2
13.0
8.6
112.1
5.7
10.6
3.9
13.4
9.6
97.8
2.4
8.4
3.1
14.9
10.4
69.3
.9
4.0
1.7
10.8
9.4
64.4
5.3
3.1
1.5
10.2
6.9
108.0
9.8
8.2
3.1
13.3
9.8
118.4
7.0
13.3
2.7
14.8
10.8
115.6
5.4
9.8
2.2
14.6
11.9
99.9
3.3
8.1
1.4
12.3
10.1
63.3
1.6
4.4
1.2
7.1
6.7
84.7
3.2
9.6
1.8
11.2
9.1
105.9
6.3
11.1
3.1
12.3
10.3
119.2
8.6
12.7
4.8
11.9
9.9
Beer, wine, liquors
do
Household equip., supplies, furnishings.. do. __
Industrial materials
_do
Soaps, cleansers, etc
do
Smoking materials
_ .
do
Allother
do
79.2
80.1
53.3
17.6
39.6
411.0
89.2
70.7
62.7
22.9
39.9
416.3
6.8
6.5
5.5
2.3
3.1
38.2
6.6
8.6
5.9
2.5
3.1
39.9
8.1
9.3
6.3
2.5
3.5
39.1
8.1
5.6
6.4
2.4
3.5
32.6
5.6
3.7
4.4
1.6
2.9
24.4
3.4
2.9
3.6
1.4
2.5
23.6
6.5
6.2
7.1
2.0
3.2
38.8
9.5
9.0
5.6
2.2
3.8
39.8
11.5
7.5
5.4
2.2
3.7
41.3
15.0
5.1
4.4
1.1
4.7
34.4
3.4
2.5
4.2
1.7
2.7
27.6
4.5
2.8
4.3
1.5
3.0
33.6
6.8
6.2
4.4
2.2
3.1
39.8
7.8
9.6
4.7
2.5
3.8
43.1
3, 354. 3 3,297.8
924.3
878.1
2, 430. 0 2, 419. 6
182.9
158.5
73.2
66.9
310.3
297. 1
1,863.6 1,897.1
278.3
74.1
204.3
14.3
5.6
25.5
158.9
294.3
80.2
214.1
15.6
5.8
28.9
163.8
300.1
80.6
219.5
16.5
5.6
29.3
168.1
279.1
76.4
202.7
15.7
5.4
26.3
155.3
246.4
74.9
171.5
11.9
5.8
17.8
136.0
269.8
76.3
193.6
11.2
4.2
19.0
159.2
269.8
73.1
196.7
13.7
4.8
26.2
152.0
296.2
76.9
219.3
12.7
6.2
29.9
170.5
305.8
68.4
237.4
13.9
5.3
28.7
189.5
283.2
59.8
223.4
9.2
5.6
22.2
186.4
231.3
67.0
164.2
11.4
7.6
17.3
127.9
236.1
66.9
169.2
13.4
4.6
22.3
128.9
282.4
79.0
203.5
14.4
5.5
26.0
157.6
205, 188
90, 447
114, 741
17, 527
7,624
9,903
16, 218
7,165
9,053
17,429
7,662
9,767
17, 568
7,964
9,604
16, 425
7,287
9,138
18,087
8,061
10, 026
17, 272
7,727
9,545
18, 078
8, 107
9,971
18, 132
7,904
10,228
17,408
7,530
9,878
16, 863 '16,816
7,365 '17,541
9,497 ' 9, 275
17, 796
8,029
9,767
21, 607
12, 308
9,299
20,859
12, 155
8,704
20, 722
12,231
8,491
20, 554
12, 190
8,364
20, 510
12,220
8,290
20,385
12, 171
8,214
20, 684
12, 113
8,570
20,849
12, 120
8,729
21, 268
12, 184
9,084
21, 425
12, 150
9,275
21, 607
12, 308
9,299
21, 678 ••21,555
12, 236 '12,308
9,442 '9,247
21, 633
12, 546
9,087
313, 503
25,679
25,081
26, 557
27, 616
26, 005
26,201
26,239
26, 162
27, 159
32,589
24,269 '24, 157 '27,051 127,548
8,984
4,503
4,089
414
7,546 «• 7, 801 ' 8, 913 i 8, 998
4,594 ' 4, 736 ' 5, 504 i 5, 469
4,326 ' 4, 485 5,204
268
300
'251
1,204 ' 1, 236 '1,310
695
788
'734
417
434
'416
833
1,020
'875
621
788
'678
212
232
'197
Newspaper advertising linage (52 cities) :
Total
mil lines
Classified..
do
Display, total
do
Automotive
do
Financial.-..
do
General
do
Retail
do
WHOLESALE TRADE
Merchant wholesalers sales (unadj.), total, mil. $.
Durable goods establishments
do
Nondurable goods establishments
do
203, 751
91, 026
112, 724
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total. ___mil. $
20, 520
Durable goods establishments
do
11, 805
Nondurable goods establishments
do
8,715
RETAIL TRADE
All retail stores:
Estimated sales (unadj.), total
...
mil. $
303,672
Durable goods stores 9 ... —
Automotive group
Passenger car, other auto, dealers
Tire, battery, accessory dealers
do
do
do. .
do
417.4
36.0
122.7
84.7
41.5
46.2
86.2
471.7
42.6
127.5
89.1
34.1
60.4
117.9
307.4
22 7
93 3
64 6
31 8
36.7
58.2
317.8
21 0
85.4
66 0
30.8
37.6
76.9
97, 812
57, 414
53, 875
3,539
99, 669
57, 556
53, 695
3,861
8,234
4,989
4,711
278
8,205
4,955
4,644
311
8,928
5, 413
5,084
329
9,398
5,644
5,273
371
8,547
5,014
4,670
344
8,298
4,669
4,338
331
8,200
4,515
4,192
323
8, 574
4,870
4,531
339
8,482
4,777
4,413
364
14,978
9,089
4,905
12, 307
9,340
2,967
15, 700
9,384
5,245
12, 411
9,350
3,061
1,192
715
401
905
684
221
1,160
725
370
999
738
261
1,245
781
391
1,115
844
271
1,313
804
439
1,167
884
283
1,239
770
399
1,143
881
262
1,325
818
424
1,167
911
256
1,367
805
464
1,121
867
254
1,365
820
440
1,145
892
253
1,472
859
497
1,057
802
255
1,785
957
665
1,074
716
358
do____ 205, 860
17, 276
3,537
6,913
4,015
2,811
Drug and proprietary stores
do
10, 148
Eating and drinking places
...do
23, 431
Food group
do
71, 125
Grocery stores
„
do
65, 105
Gasoline service stations
do
23, 012
General merchandise group 9do „ 39, 811
Department stores
do
Mail order houses (dept. store mdse.) do -_ 26, 094
2,691
Variety stores.
do 5,727
Liquor stores
_
do
6,758
213, 834
18, 105
3,822
6,994
4,342
2,947
17,445
1,512
277
590
354
291
16, 876
1,375
282
550
307
236
17, 629
1,439
297
575
319
248
18, 218
1,473
337
552
337
247
17, 458
1,301
286
492
314
209
17,903
1,451
293
546
372
240
18,039
1,574
304
595
394
281
17, 588
1,472
300
577
361
234
18, 677
1,628
357
620
404
247
23, 605
2,614
604
995
668
347
10, 894
24, 887
72, 137
66, 146
24, Oil
893
1,940
6,096
5,596
1,901
851
1,991
5,810
5,348
1,940
894
2,093
5,888
5,391
2,034
910
2,197
6,259
5,742
2,136
879
2,293
6,145
5,632
2,159
888
2,316
6,059
5,544
2,113
882
2,178
6,236
5,729
2,030
886
2,121
5,842
5,338
2,035
895
2,024
5,999
5,495
2,047
1,261
2, 163
6,848
6,278
2,067
914
1,980
5,940
5,467
1,988
42,174
27, 703
2,767
6,078
7,120
3,197
2,077
221
466
551
3,049
2,016
' 199
414
541
3,322
2, 194
208
470
572
3,483
2,322
198
492
586
3,085
2,008
179
455
577
3,502
2,280
233
501
580
3,516
2,319
223
496
589
3,519
2,312
264
479
573
4,219
2,760
359
571
624
6,371
4,223
355
1, 057
913
2,721 ' 2, 774 ' 3, 370 i 3, 670
1,815 ' 1, 808 ' 2, 228 i 2, 414
230
187
176
470
'405
363
596
560
551
25,739
25,918
25, 897
26, 544
26, 444
26,422
26, 732
26,089
26, 411
26, 470
8,150
4,602
4,291
311
8,104
4,660
4,348
312
8,187
4,752
4,448
304
8,546
5,069
4,750
319
8,592
5,130
4.814
316
8, 508
5,053
4,731
322
8,743
5,224
4,891
333
8,235
4,707
4,361
346
8,221
4,692
4,331
361
8,327
4,678
4, 355
323
27, 399 '28,129 27,640
8,523 r g 755 ' 9, 065 i 8, 750
5,278
4,892 f ^ flfiR
4,549 ' 4, 736 4,937
341
'332
343
1,278
755
441
1,049
794
255
1,286
791
423
1,048
779
269
1,306
795
420
1,001
750
251
1,295
775
450
1,014
754
260
1,267
784
397
1,031
771
260
1,299
781
424
1,025
767
258
1, 347
812
450
1,041
789
252
1,300
771
423
1,038
786
252
1,331
782
454
1,021
774
247
1,358
778
463
1,088
839
249
1,360
789
469
1,084
819
265
17, 589
1,443
315
557
343
228
17, 814
1,585
333
614
384
254
17, 710
1,490
317
585
342
246
17, 998
1,524
326
596
358
244
17, 852
1,538
332
594
371
241
17,914
1,562
340
605
367
250
17,989
1,559
322
607
373
257
17,854
1,485
307
575
349
254
18, 190
1,515
324
578
364
249
18, 143
1,476
304
559
367
246
18, 542
1,548
338
584
365
261
Furniture and appliance group 9
do
Furniture, homefurnishings stores.— do
Household appliance, TV, radio
do
Lumber, building, hardware group 1 do
Lumber, bldg. materials dealers rf . do
Hardware stores.
do
Nondurable goods stores 9
Men's and boys' wear stores
Women's apparel, accessory stores
Family and other apparel stores
Shoe stores
_
Estimated sales (seas, adj.), total. _ _
do ..
do
do
do
do
Durable goods stores 9
do
Automotive group
do _
Passenger car, other auto, dealers, . d o __
Tire, battery, accessory dealers
do ...
Furniture and appliance group 9
Furniture, homefurnishings stores
Household appliance, TV, radio
Lumber, building, hardware group
Lumber, bldg. materials dealers cf
Hardware stores
do
do
do
do
do
do
Nondurable goods stores 9
do
Apparel group
do
Men's and boys' wear stores
do
Women's apparel, accessory stores. . .do .
* amily and other apparel stores
do
Shoe stores
do
' Revised.
i Advance estimate.
,
Sica, s
1 1, 267
16, 723 16, 356 18, 138 U8,550
1, 288 ' 1, 161 ' 1, 421 i 1, 631
272
296
'236
489
569 _ . _ . - _ . _
'454
321
286
'276
217
259
'195
'
'
'
'
'891
1, 946
5, 831
5, 350
1, 923
'
'
'
'
'927
2, 120
6, 343
5, 825
2, 072
1919
i 2, 114
i 6, 058
i 5, 515
i 2, 148
27, 065
' 1, 398
'840
'469
' 1, 167
'906
'261
1,435
864
475
1,210
937
273
18, 634 ' 19, 064
1,645
1,586
352
'324
632
'590
391
'401
270
'271
18, 890
SURVEY OF CUEEENT BUSINESS
S-12
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
May 1968
1967
1967
Mar.
Annual
Apr.
May
June
July
1968
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
All retail stores— Continued
Estimated sales (seas, adj.)— Continued
Nondurable Roods stores— Continued
Drug and proprietary stores
mil. $
Eating and drinking places
do
Food group
do _
Grocery stores
_ do __
Gasoline service stations
do_ __
General merchandise group 9
Department stores
Mail orderhouses (dept. store mdse.)
Variety stores
Liquor stores
do
do
do
do
do
_
__
906
2,034
5,985
5,513
1,992
903
2,038
5,996
5,507
1,996
923
2,059
6,050
5,548
2,040
903
2,071
6,002
5,500
2,020
913
2, 094
6,019
5,516
2,003
901
2,110
6,042
5,535
2,028
912
2, 104
6,054
5,543
2,015
928
2,133
6,095
5,584
2,064
949
2,144
6,179
5,666
2,017
954
2,173
6,249
5,743
2,095
'936
'2,206
'6,360
' 5, 655
' 2, 116
948
2,220
6,275
5,745
2,161
3,327
2,200
223
448
584
_
__
Estimated inventories, end of year or month:
Book value (unadjusted) total
mil $
Durable goods stores 9
do
Automotive group
do
Furniture and appliance group
. .do
Lumber, building, hardware group. _do__-_
3,479
2,278
230
520
609
3,468
2,283
215
504
598
3,604
2,377
228
516
599
3,529
2,305
236
506
580
3,565
2,341
222
516
597
3,587
2,354
239
516
599
3,543
2,321
250
508
600
3,613
2,371
239
533
601
3, 577
2,367
231
529
586
3, 610
2,388
241
526
633
'3,737
' 2, 480
237
'534
625
3,890
2,567
258
569
653
35, 846
16,144
7,938
2,512
2, 401
35, 459
15, 468
6, 990
2,530
2,361
37, 108
16, 855
8,221
2,548
2,471
37, 199
16,826
8,105
2,599
2,514
36,935
16, 695
7,966
2,606
2,527
36, 337
16,295
7, 683
2,594
2,477
35, 894
15, 972
7,363
2,556
2,432
35, 106
14, 691
5,972
2,564
2,419
35, 705
14, 786
6,066
2,603
2,440
36, 768
14, 968
6,172
2,636
2, 443
37,890
15,363
6,451
2, 722
2,455
35,459
15,468
6,990
2,530
2,361
35, 837 '36,725
16, 104 16, 599
7,870
7,528
2, 592
2,518
2,442
2,422
37, 745
16,954
8,073
2,646
2,513
19, 702
4,102
4,201
6,425
3,919
19, 991
4,127
4,265
6, 714
4,102
20, 253
4,308
4,189
6,767
4,108
20, 373
4,314
4,167
6,833
4,123
20, 240
4,270
4,149
6,816
4, 120
20, 042
4,131
4,176
6,693
4,025
19, 922
4,125
4,122
6,760
4,076
20, 415
4,407
4,108
6,970
4,212
20,919
4,545
4,156
7,320
4,449
21, 800
4,617
4,320
7,851
4,845
22,527
4, 747
4,463
8,142
5,055
19,991
4,127
4,265
6,714
4,102
19, 733 '20,126
3,961 '4,174
4, 242
4, 221
6,712 ' 6, 936
4,209
4, 036
20, 791
4,352
4,296
7,249
4,440
36, 961
16, 536
8,108
2, 574
2,483
36, 682
15, 977
7,140
2,611
2,442
36, 526
16,142
7,515
2,561
2,418
36, 236
16, 033
7,409
2,568
2,448
36, 263
15,904
7,315
2,585
2,451
36, 087
15, 661
7,154
2,586
2,419
35,997
15, 549
6,966
2,571
2,427
36,028
15,503
6,867
2,569
2,429
36, 143
15, 711
7,041
2,567
2, 452
36, 217
15, 681
7,006
2,549
2,468
36,474
15, 728
7,048
2, 610
2,475
36,682
15, 977
7,140
2,611
2,442
37, 130 '37,082
16, 238 16,268
7,314
7,330
2,689
2,617
2,479
2,507
37, 003
16,253
7,379
2, 659
2,459
do
do
do
do
do
Nondurable goods stores 9 — .Apparel group
Food group
General merchandise group
Department stores
20, 425
4,318
4,209
6,909
4,200
20, 705
4,363
4,248
7,189
4,359
20, 384
4,369
4,156
6,895
4,179
20,203
4,288
4,114
6,817
4,115
20, 359
4,335
4,149
6,900
4,174
20,426
4,321
4,184
6,904
4,201
20,448
4,328
4,189
6,961
4,233
20, 525
4,333
4,205
6,997
4,250
20, 432
4,264
4,181
7,019
4,261
20,536
4,236
4,231
7,067
4,299
20, 746
4,294
4,321
7,141
4,345
20, 705
4,363
4,248
7,189
4,359
20, 892 '20,814
4,343 ' 4, 339
4,276
4,281
7,365 ' 7, 337
4,502
4,475
20, 750
4,326
4,262
7,292
4,480
do
80,323
85,203
6,855
6,500
6,839
7,252
6,683
7,063
7,292
7,050
7,820
10, 604
6,352
6,387
7,318
338
49
111
98
320
38
113
87
418
48
149
120
—do
do
do
do
do
Book value (seas, adj.), total— _,.__do
Durable goods stores 9
do
Automotive group
do
Furniture and appliance group _ _ _ d o
Lumber, building, hardware group— do
Nondurable goods stores 9
Apparel group
Food group
General merchandise group
Department stores
Firms with 11 or more stores:
Estimated sales (unadj.), total 9
889
2,046
6,041
5,535
1,964
•_
Apparel group 9
Men's and boys' wear stores
~\V omen's apparel accessory stores
Shoe stores
do
do
do
do
4,770
573
1,779
1,269
5,069
612
1, 855
1, 367
430
45
152
133
371
43
140
101
404
47
152
111
415
53
151
114
339
39
126
92
411
43
148
112
444
47
160
135
426
52
157
111
476
63
173
118
776
106
288
179
Drug and proprietary stores
Eating and drinking places
Furniture and appliance group
do
do
do
2,663
2,222
1, 276
3,120
2,554
1, 362
250
206
103
229
202
104
243
214
115
256
223
116
247
223
113
251
226
118
253
222
119
254
223
124
267
216
126
432
221
145
255
210
102
250
207
100
280
228
110
General merchandise group 9
Dept stores excl mail order sales
Variety stores
do
do
do
28, 988
19, 653
4,593
30, 953
20,984
5,029
2,324
1,561
383
2,237
1,533
341
2,432
1,667
388
2,559
1,767
407
2,276
1,547
371
2,590
1,750
414
2,575
1,757
412
2,586
1,753
395
3,128
2,101
481
4,704
3,146
893
1,994
1,374
297
2,041
1,376
332
2,485
1,694
\ 392
Grocery stores
Tire battery accessory dealers
do
do
29,906
1,472
31, 145
1,529
2,686
116
2,516
127
2,498
133
2,692
150
2,582
129
2,549
126
2,753
122
2,489
127
2,605
137
3,116
172
2,620
114
2,612
107
2,853
125
Estimated sales (seas, adj.), total 9
do
6,852
6,993
6,948
7,171
7,162
7,013
7,215
7,205
7,368
7,282
7,483
7,683
7,722
Apparel group 9
Men's and boys' wear stores
Women's apparel, accessory stores
Shoe stores
do
do
do
do
372
47
138
98
438
50
165
121
407
47
151
109
424
52
155
112
415
49
150
111
436
54
156
119
436
52
157
122
434
50
160
121
429
54
155
118
435
53
159
119
447
58
156
125
473
56
167
121
480
61
171
128
Drug and proprietary stores
Eating and drinking places
do
do
253
209
245
205
252
209
261
209
256
208
265
209
261
216
267
221
277
225
276
223
283
228
281
229
292
230
General merchandise group 9
__do
Dept. stores, excl. mail order sales. _ do __
Variety stores
.do
2,449
1,671
369
2,528
1,683
420
2,482
1,710
417
2,627
1,774
422
2,643
1,738
416
2,486
1,780
427
2,646
1,759
428
2,607
1,783
418
2,667
1,830
443
2,566
1,767
445
2,677
1,834
435
2,827
1,941
444
2,890
1,954
476
Grocery stores
Tire, battery, accessory dealers.
2,556
135
2,583
127
2,575
123
2,591
130
2,613
118
2,628
125
2,640
127
2,620
130
2,655
136
2,712
125
2,764
147
2, 738
143
2,707
142
19,806
7,331
12, 475
8,336
11, 470
17,656
6,766
10, 890
7,518
10, 138
17,814
6,875
10, 939
7,789
10, 025
18,005
6,943
11,062
8,013
9,992
18, 359
7,225
11, 134
8,194
10, 165
18, 034
7,128
10, 906
8,010
10, 024
18, 082
7,146
10, 936
7,950
10, 132
18,205
7, 194
11, Oil
7,941
10, 264
18,168
7,094
11,074
7,974
10,194
18,696
7,109
11,587
8,199
10,497
19.806
7,331
12, 475
8,336
11, 470
19, 020 '18,518
7,079 '6,999
11, 941 '11,519
7,931 ' 7, 679
11, 089 '10,839
18, 564
7,082
11,482
7,792
10, 772
18, 588
7,093
11,495
7,936
10, 652
18, 159
7, 129
11,030
7,804
10. 355
18,211
7,181
11, 030
7,920
10, 291
17, 926
6,973
10,953
7,827
10, 099
18, 225
7,049
11, 176
7,992
10, 233
18, 169
6,985
11, 184
8,016
10, 153
18, 251
6,974
11, 277
7,993
10, 258
18, 399
7,064
11,335
8,035
10,364
18,251
6,918
11,333
7,933
10,318
18,664
7,054
11,610
8,086
10,578
18, 588
7,093
11,495
7,936
10, 652
18, 622 '18,943
7, 178 '7,345
11,444 '11,598
7,956 ' 8, 075
10,666 '10,868
19,093
7,427
11,666
8,143
10,950
do
do . -
All retail stores, accounts receivable, end of yr. or mo.:
Total (unadjusted)
mil. $ _ 18, 986
Durable goods stores
do
7,212
Nondurable goods stores
_do ___ 11, 774
Charge accounts
_
do
8,164
Installment accounts
do_ _ 10, 822
Total (seasonally adjusted).
Durable goods stores.
Nondurable goods stores
Charge accounts __ _ __ _
Installment accounts..
do
do
do
do
do
17, 767
6. 987
10, 780
7, 730
10, 037
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total, incl. armed forces overseas..
mil__ 1 196. 92 1 199. 12
LABOR FORCE
Labor force, total, 16 years of age and over
Civilian labor force
Employed, total
Nonagricultural employment
Agricultural employment
Unemployed (all civilian workers)
r
Revised.
1 As of July 1.
thous__ 78, 893
do
75, 770
do
72, 895
do
68, 915
do
3,979
do
2,875
80, 793
77, 347
74, 372
70, 528
3,844
2,975
198. 43
198. 61
198. 76
198. 94
199. 12
199.32
199. 53
199. 73
199.92
200.09
200. 25
200.36
200.51
200.6
78,949
75, 513
72, 560
69, 149
3,410
2,954
79, 560
76, 111
73,445
69, 724
3,721
2,666
79, 551
76,095
73, 637
69, 812
3,825
2,457
82, 464
79, 020
75, 391
70,996
4,395
3,628
82, 920
79, 471
76,221
71, 705
4,516
3,250
82, 571
79, 112
76, 170
71,792
4,378
2,942
80,982
77, 526
74,631
70, 700
3,931
2,895
81, 595
78, 132
75, 181
71, 148
4, 033
2,951
81,582
78, 113
75, 218
71,460
3,759
2,894
81,527
78, 057
75,338
71,793
3,545
2,719
79,811
76, 347
73, 273
69,908
3,366
3,074
80, 869
77, 402
74, 114
70, 653
3,462
3,288
80,938
77, 447
74, 517
70, 980
3,537
2,929
81, 14
77,63
75. 14
71,29
3,85
2,49
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
May 1968
1966
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1 1967
Annual
S-13
1967
Mar.
Apr.
May
June
July
1968
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.*
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
LABOR FORCE— Continued
Seasonally Adjusted
Civilian labor force t
Employed total
Nonagricultural employment
Agricultural employment
- -
thous
do
do
do
76, 676
73, 822
69,964
3,858
Unemployed (all civilian workers)
do
Long-term 15 weeks and over __ _ do _
Rates (unemployed in each group as percent
of total in that group) :J
All civilian workers
Men 20 years and over
Women 20 years and over
Both sexes, 16-19 years.
76, 814
73, 939
70, 096
3,843
76, 502
73, 550
69, 822
3,728
77, 214
74, 169
70, 430
3,739
77, 495
74, 478
70,631
3,847
77, 598
74,664
70, 708
3,956
77, 807
74,638
70, 941
3,697
78, 072
74, 735
71, 017
3,718
77, 989
75,005
71,166
3,839
78,473
75, 577
71, 361
4,216
77, 923
75, 167
71,164
4,003
78, 672
75, 731
71,604
4,127
78,658
75, 802
71, 788
4,014
78, 343
75,636
71,656
3,980
536
449
2,854
436
2,875
434
2,952
433
3,045
441
3,017
436
2,934
445
3,169
440
3,337
475
2,984
485
2,896
445
2,756
488
2,941
455
2, 856
448
2,707
398
3.8
2.5
3.8
12.7
3.8
2.3
4.2
12.9
3.7
2.3
4.1
11.8
3.7
2.3
4.1
12.0
3.9
2.4
4.1
12.7
3.9
2.5
4.2
12.7
3.9
2.4
4.3
12.9
3.8
2.3
3.9
13.3
4.1
2.3
4.9
13.4
4.3
2.5
4.8
14.8
3.8
2.4
4.0
13.9
3.7
2.2
4.1
12.8
3.5
2.3
3.9
11.3
3.7
2.3
4.0
12.6
3.6
2.2
3.7
13.0
3.5
2.1
3.7
11.9
1.9
7.3
3.3
1.8
1.8
1.9
1.9
1.9
1.8
3.4
3.2
3.3
3.4
3.5
3.5
1.9
6.8
3.4
1.8
8.0
3.6
1.9
8.8
3.7
1.7
7.3
3.4
1.7
6.9
3.3
1.6
6.4
3.2
1.7
7.2
3.3
1.7
6.9
3.2
1.5
6.7
3.1
2.0
4.2
2.2
4.4
2.1
4.2
1.8
4.6
1.9
4.6
2.2
4.6
2.2
4.6
2.2
4.4
2.4
4.6
2.4
4.9
2.2
4,4
2.1
4.3
2.0
4.3
2.2
4.3
1.9
4.4
1.8
3.9
3.8
8.1
3.2
2.8
3.9
7.3
3.7
3.4
3.7
7.4
3.6
3.1
3.7
8.1
3.6
3.4
3.9
7.8
3.8
3.7
4.0
8.4
3.9
3.6
4.0
7.4
4.0
4.0
3.9
7.2
3.8
3.4
4.2
5.4
4.0
3.7
4.4
6.9
4.1
3.6
3.9
7.2
3.5
3.2
3.8
6.1
3.5
3.5
3.6
8.3
3.3
2.8
3.8
7.4
3.6
3.4
3.6
8.0
3.5
3.1
3.4
5.7
3.3
2.7
63,982
66,063
64,843
65, 215
65,594
66,514
66, 129
66, 408
66,672
66,914
67, 470
67,980
66, 107 ' 66,479 ' 66,787
67,563
63,982
625
3,292
19, 186
11, 256
66,063
613
3,264
19, 339
11, 327
65, 749
624
3,313
19, 445
11,434
65, 653
620
3,276
19,331
11, 322
65, 639
617
3,192
19, 238
11, 283
65,903
619
3,187
19, 285
11, 285
65, 939
623
3, 231
19, 169
11, 218
66, 190
606
3,223
19, 318
11, 351
66, 055
601
3,238
19, 142
11, 149
66,243
597
3,236
19,169
11,143
66, 918
597
3,289
19,422
11,364
67, 126
598
3,353
19,491
11,399
67, 137 67, 712
••604
598
3,461
3,175
' 19,524
19, 511
11, 444 ' 11,424
O rdnance and accessories _ .
_ _ do . . . . 256
613
Lumber and wood products - .. do. ._
462
Furniture and
fixtures.
do
645
Stone clay and glass products
do
1,345
Primary metal industries
do
1,349
Fabricated metal products
do
1,911
Machinery, except electrical
do
292
593
456
631
1,301
1,355
1,971
286
602
459
638
1,332
1,364
1,984
288
592
455
628
1,305
1,354
1,979
286
584
453
624
1,299
1,348
1,972
290
590
452
626
1,295
1,357
1,972
292
585
447
625
1,280
1,350
1,969
297
585
451
626
1,281
1,356
1,976
299
585
451
622
1,262
1,331
1,966
300
592
455
628
1,267
1,332
1,932
303
593
458
634
1,289
1,354
1,980
304
600
465
642
1,290
1,368
1,947
305
'306
304
607
'606
603
' 469
467
468
610
'594
642
1,292 ' 1, 287
1,291
1,366 '1,368
1,368
'1,961 '1,965
1,966
307
603
470
643
1,305
1,347
1,968
1,896
Electrical equip . and supplies
do
1,912
Transportation equipment
do
Instruments and related products, do
433
Miscellaneous manufacturing ind__ _ _ d o _ . _ _
434
Nondurable goods
.
..do
7,930
Food and kindred products
do
1,779
84
Tobacco manufactures
. do
962
Textile mill products
.
.•>
do
Apparel and other textile products. ..do
1,399
Paper and allied products do . . . . 668
Printing and publishing
._ . do
1,022
Chemicals and allied products.
do
958
Petroleum and coal products
do
186
Rubber and plastics products, nec_..do
510
Leather and leather products
do
364
Transportation, communication, electric, gas,
and sanitary services
thous
4,151
Wholesale and retail trade
do.
13, 211
Wholesale trade.
.
do
3,438
Retail trade
-- do
9, 773
1,915
1,927
455
431
8, 012
1,789
86
952
1,391
684
1,064
991
189
514
352
1,947
1,932
456
434
8,011
1,803
84
952
1,384
684
1,065
981
186
521
351
1,916
1,916
456
433
8,009
1,800
86
945
1,390
680
1,063
984
187
520
354
1,904
1,927
454
432
7,955
1,797
86
941
1,395
679
1,064
982
187
472
352
1,872
1, 947
454
430
8, 000
1,806
87
948
1,396
688
1,066
990
189
479
351
1,889
1,896
455
430
7,951
1,790
89
940
1,376
689
1,066
989
191
479
342
1,916
1,980
456
427
7,967
1,751
85
946
1,381
687
1,067
992
190
521
347
1,882
1,873
452
426
7,993
1,777
81
950
1,377
682
1, 064
993
191
529
349
1,896
1,862
454
425
8,026
1,783
82
954
1,384
685
1,065
1,001
192
529
351
1,919
1,951
455
428
8,058
1,785
89
957
1,389
687
1,069
1,002
193
533
354
1,922
1,974
457
430
8,092
1,788
91
964
1,397
690
1,071
1,008
193
535
355
1,924 ' 1,925
1,985 '1,998.
456
457
435
436
8, 067 ' 8, 100
1,778
1,779
86
85
976
966
1, 385 ' 1, 393
••692
691
1,070 '1,071
1,008 ' 1, Oil
194
192
••543
535
356
356
'1,917
'2,001
'457
'438
' 8, 106
' 1, 783
'88
'972
'1,391
'692
'1,078
' 1, 010
'193
'544
'355
1,919
2,008
457
436
8,122
1,786
84
971
1,405
691
1,081
1,006
192
547
359
4,262
13, 672
3,556
10, 116
4,246
13, 557
3,535
10, 022
4,212
13, 572
3,545
10, 027
4,267
13, 609
3,549
10, 060
4,266
13, 648
3,555
10,093
4,292
13, 647
3, 555
10, 092
4,283
13,664
3,569
10, 095
4,262
13, 719
3,565
10, 154
4,251
13,776
3,567
10,209
4,287
13,900
3,602
10, 298
4,290
13,870
3,598
10, 272
4,294
13, 915
3,609
10, 306
'4,318 ' 4, 316
14,049 14,112
'3,640 '3,645
10,409 10,467
4,314
14,080
3,648
10,432
Finance, insurance, and real estate
Services
Government
. .
__
Federal
State and local
_.._
3,102
9, 545
10,871
2,564
8,307
3,228
10, 071
11, 616
2,719
8,897
3,179
9,946
11, 439
2,685
8,754
3, 194
9,973
11, 475
2,688
8,787
3,205
9,987
11, 524
2,698
8,826
3,227
10, 035
11, 636
2,747
8,889
3,234
10, 074
11, 669
2,759
8,910
3,253
10, 130
11, 713
2,746
8,967
3,264
10, 161
11, 668
2,715
8,953
3,270
10,199
11,745
2,712
9,033
3,290
10, 297
11,836
2,698
9,138
3,304
10,332
11,888
2,708
9,180
3,321 3, 330
3,308
10, 358 10,407 10,449
11,978 12,028 12,052
2,719 ' 2, 715
2,721
9,337
9,257 ' 9, 309
3,343
10, 462
12, 091
2,718
9,373
14, 273
14, 226
14, 200
14, 104
14, 059
14, 249
13,996
14,261
14, 290
14,249
14,406
14,337
14, 127
14,144
14,163
14, 235
thous
14, 273
do
8,349
do . .
122
do
535
do
383
do
518
do
1,096
do
1,050
do
1,345
14, 226
8,282
150
515
376
502
1,043
1, 047
1,371
14, 358
8,407
146
525
379
509
1,073
1,059
1,388
14, 233
8,286
147
514
374
499
1,049
1,046
1,380
14, 147
8,254
147
507
375
495
1,042
1,041
1,373
14, 170
8,240
149
512
371
498
1,037
1,048
1,372
14, 056
8,170
151
508
366
498
1,023
1,041
1,368
14, 191
8,299
155
509
369
497
1,024
1,048
1,375
14,003
8,091
154
508
370
494
1,003
1,023
1,365
14,034
8,083
157
513
374
500
1,009
1,024
1,329
14, 278
8,294
157
515
377
505
1,031
1,045
1,372
14,317
8,313
158
520
383
514
1,030
1,058
1,336
14, 325
8,346
160
523
387
513
1,029
1,055
1,347
14,326 14,317
' 8, 318 '8,307
160
'160
527
'527
387
'387
'479
'466
1,030
1,026
1, 053
1,057
'1,349 ' 1, 352
14,364
8,346
162
524
387
514
1,041
1,038
1,351
1,294
1,356
286
341
5,944
1,187
74
844
1 932
1,332
1,363
289
344
5,951
1,200
72
845
1.226
1,298
1,347
289
343
5,947
1,195
73
838
1.232
1,284
1,361
287
342
5,893
1,196
74
835
1.235
1,251
1,377
285
340
5,930
1,201
75
841
1.239
1, 265
1,326
285
339
5,886
1,185
76
834
1, 290
1,410
285
337
5,892
1,148
72
839
1,260
1,297
281
336
5,912
1,175
69
842
1,270
1,289
283
335
5,951
1,185
70
847
1,289
1,380
285
338
5,984
1,188
77
848
1,293
1,398
286
337
6,004
1,190
78
855
1, 294 '1,293 '1,287
1,408 ' 1, 413 ' 1, 417
284
286
'285
'344
'342
344
5,979 ' 6, 008 '6,010
1,180
1,186
1,183
'75
'74
72
'861
855
'866
1,284
1,419
283
343
6,018
1,189
72
860
Married men*
___
Nonwhite workers*
White workers*
_
-
Occupation' White-collar workers*
Blue-collar workers*
Industry:
Private wage and salary workers*
Construction*
Manufacturing*
Durable goods*
EMPLOYMENT
Employees on payrolls of nonagricultural estab.:t
Total, not adjusted for seasonal variation __ thous ..
Seasonally Adjusted
Total
Mining
Contract construction
Manufacturing
Durable goods
-.
-
thous
do
do
do
do
do
do
do
. do
do
Production workers on manufacturing payrolls:
Total, not seasonally adjustedf...
thous .
' 67,813 67,921
'603
621
'3,439
3,425
' 19,512 19, 585
' 11,406 11,463
Seasonally Adjusted
Totalt
Durable goods
. -.
Ordnance and accessories
Lumber and wood products
Furniture and fixtures
.
Stone, clay, and glass products....
Primary m etal industries _
Fabricated metal products
Machinery , except electrical
Electrical equipment and supplies
Transportation equipment
Instruments and related products
Miscellaneous manufacturing ind
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
do
do
do
do
do
do ...
.do
do
do . .
1,317
1,361
277
347
5,925
1,181
72
857
1.243
'Revised.
* Preliminary.
*New series. Monthly data for earlier years are available.
{Beginning in the Mar. 1968 SURVEY, labor force data reflect new seasonal factors.
fEnective with the Sept. 1967 SURVEY, additional series (unemployment rates, seasonally
adjusted production workers, hours, man-hours and man-hour indexes, private sector data,
and spendable earnings) are shown; these are not in the 1967 edition of BUSINESS STATISTICS.
1 990
1 992
1 9.1 «
1 99^
1 931
1 9Q4.
1 991
r 1 051
1 997
1 92Q
Also, the establishment data reflect adjustment to Mar. 1966 benchmarks and revised seasonal
factors; comparable earlier data (except man-hours and man-hour indexes and unemployment
rates) appear in BLS Bulletin 1312-5, EMPLOYMENT AND EARNINGS FOR THE UNITED STATES,
1909-67, available from the Government Printing Office, Washington, D.C. 20402, $4.75.
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
May 1968
1967
1967
Mar.
Annual
Apr.
May
June
July
1968
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.*
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT— Continued
Seasonally Adjusted
Production workers on manufacturing payrolls—
Continued
Nondurable goods industries— Continued
Paper and allied products
thous__
Printing and publishing _
do_.
Chemicals and allied products
do
.
Petroleum and coal products
do
Rubber and plastics products, nee
do .
Leather and leather products
__do
531
671
586
118
3%
304
531
674
580
116
403
304
526
673
583
118
402
307
525
672
580
117
354
305
535
673
583
119
362
302
536
674
585
119
362
295
534
673
585
118
401
299
527
669
585
120
407
300
531
669
594
121
408
303
533
673
595
121
412
306
536
672
597
121
414
307
536
671
598
122
414
307
'537
'672
599
122
'420
307
'536
'675
'600
'122
'421
'307
535
678
591
121
423
310
42 7
37 6
41.3
42.6
37.7
40.6
3.9
42.1
4.3
42.3
40.8
41.5
42.0
42.1
42.4
43.8
41.2
42.6
42.1
40.0
3.4
41.2
3.5
41.8
40.3
40.4
41.6
41.0
41.5
42.5
40.2
41.4
41.2
39.4
42 4
37 4
40 3
40 4
33
41 1
35
41 9
40.7
40 2
41 5
40 8
41.5
42.9
40.0
40.7
41 5
39 2
42 7
37.4
40.2
40.5
32
41.0
3.3
41.6
40.6
40.3
41.3
40.2
41.5
42.8
39.6
40.9
41.5
39.7
42 0
36 4
40.4
40.3
32
41 0
3.3
42.0
40.1
40.1
41.1
40.6
41.3
42.3
39.9
41.7
41.1
39.5
42.2
37.4
40.6
40.3
3.2
40.9
3.3
41.2
40.1
40.3
41.3
40.6
41.2
42.0
40.0
41.2
41.0
39.4
43.2
37.5
40.3
40.4
3.3
41.0
3.5
41.8
39.9
40.2
41.3
40.9
41.3
42.1
40.3
41.4
41.0
39.2
42.8
37.5
40.7
40.7
3.3
41.3
3.5
41.9
39.7
40.2
41.6
41.0
41.5
42.2
40.4
42.5
41.2
39.4
42.8
38.3
40.9
40.8
3.4
41.6
3.7
42.4
40.5
40.7
42.0
41.0
41.8
42.7
40.2
42.7
41.2
39.5
42.3
37.1
40.8
40.7
3.4
41.3
3.5
41.7
40.5
40.4
41.8
41.3
41.4
42.3
40.5
41.5
41.1
39.4
43.5
39.4
40.8
40.8
3.3
41.2
3.4
41.9
41.2
40.5
42.1
41.6
41.4
42.4
40.6
39.8
41.1
39.6
42.5
37.3
41.0
40.7
3.5
41.4
3.6
41.7
40.3
40.7
41.7
41.7
41.5
42.4
40.4
41.8
41.1
39.4
41.6
36.0
40.0
40.2
3.5
41.0
3.7
40.4
38.6
39.5
40.8
41.5
41.4
41.8
40.2
41.9
40.5
39.2
••42.3
'37.9
40.5
40.7
'3.5
41.4
3.7
'42.3
'41.3
' 41.0
'42.1
41.7
'41.3
'42.3
'40.3
41.8
'40.7
39.7
'42.3
'36.7
40.6
40.7
3.4
41.4
3.6
41.9
'40.6
' 40.9
'41.7
41.8
'41.6
'42.1
' 40.2
'42.2
'40.7
'39.3
42.5
37.8
40.1
40.4
3.0
41.0
3.3
41.3
40.8
40.7
41.5
41.4
41.1
41.8
39.8
41.3
40.6
39.6
40.2
3.4
41.2
38.8
41.9
36.4
39.7
3.1
40 9
38 5
40 9
36.0
39.5
3.2
41 1
38.2
40 2
35.5
39.8
3.0
40.8
39.4
40.8
36.2
39.5
3.0
40.6
38.3
40.5
35.9
39.5
3.0
41.0
39.0
40.4
35.7
39.6
3.0
40.6
38.4
40.6
35.9
39.7
3.1
40.8
38.9
41.0
35.8
39.9
3.3
41.0
38.0
41.4
36.3
39.7
3.2
40.7
39.0
41.3
35.8
40.1
3.2
40.8
38.8
41.5
36.3
39.8
3.3
40.7
36.8
41.6
36.2
39.2
3.3
40.4
37.5
39.9
35.1
40.0
'3.3
'40.8
'40.2
'41.6
36.4
'39.8
3.3
'40.7
'37.9
'41.5
'36.1
39.5
2.7
40.4
36.4
41.1
35.7
43.4
38.8
42.0
42.4
42.0
38.6
42.8
38.4
41 6
42.7
41.4
38 2
42.8
38.5
41.6
43.0
41.0
37.0
42.5
38.6
41.5
42.6
41.1
37.7
42.5
38.3
41.2
42.6
40.9
37.7
42.6
38.3
41.3
42.6
41.2
37.9
42.7
38.3
41.5
42.8
40.6
38.4
42.6
38.3
41.5
43.1
42.0
38.3
42.8
38.3
41.5
42.4
41.9
38.9
42.8
38.0
41.5
43.0
41.9
38.7
42.8
38.2
41.9
43.1
41.8
39.5
43.1
38.0
41.8
42.1
41.3
38.4
42.6
37.8
41.7
42.9
41.2
37.8
42.8
38.3
'41.9
'42.3
'41.6
38.6
42.6
'38.0
'41.6
'42.0
'41.6
'38.6
42.0
37.8
41.5
41.9
40.6
38.4
37.1
40.8
35.9
37.3
36
40
35
37
6
4
3
0
36 6
40.5
35 3
37.0
36.4
40.4
35.1
37.0
36.3
40.3
35.2
37.1
36.7
40.5
35.4
37.1
36.7
40.5
35.4
37.0
36.7
40.5
35.5
37.1
36.7
40.3
35.4
37.1
36.3
40.3
35.1
37.1
36.5
40.3
35.2
37.1
36.3
40.2
35.1
36.9
36.2
40.1
34.9
37.0
36.1
'40.1
34.9
'36.8
36.0
40.0
34.6
'36.7
35.6
39.9
34.2
36.8
133.05 -135.26 '135.00
134. 78
519
650
572
116
397
318
HOURS AND MAN-HOURS
Seasonally Adjusted
Average weekly gross hours per production worker
on payrolls of nonagricultural estab. :f
Mining
hours
Contract construction
_ _
do
Manufacturing: Not seasonally adjusted - do
Seasonally adjusted
do
Overtime hours
do
Durable goods
do
Overtime hours
.do
Ordnance and accessories
do
Lumber and wood products.
..do
Furniture and fixtures
do
Stone, clay, and glass products.
..do. ..
Primary metal industries
_ .do
Fabricated metal products
do
Machinery, except electrical
do
Electrical equipment and supplies
do. ._
Transportation equipment
do
Instruments and related products
do
Miscellaneous manufacturing ind
do. ..
Nondurable goods
Overtime hours
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
do
do
do
do
do
do
Paper and allied products
do
Printing and publishing
do
Chemicals and allied products . ._ do__.
Petroleum and coal products _ _
do
Rubber and plastics products, nee
.do
Leather and leather products
. do
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate
_
do
do
do
_do
Seasonally Adjusted
Man-hours in nonfarm estab., all employees,
seasonally adjusted, annual ratef
bil. man-hours -.
129.28
132. 24
131. 67
131. 08
130.89
131. 80
131. 62
132. 74
132. 56
132. 35
134. 37
134. 06
Man-hour indexes (aggregate weekly), industrial
and construction industries, totalf
1957-59=100..
Mining
do
Contract construction
. . do
Manufacturing
do
Durable goods
do
Ordnance and accessories
do
Lumber and wood products.
.do
Furniture and
fixtures
do .
Stone, clay, and glass products
..do
115. 9
82.2
114.7
117.8
124.2
144.9
97.4
127.7
111.2
113.5
79.4
113.2
115.2
120.4
176.9
92.7
122 0
106.9
114.3
80.8
114.6
115.9
121.9
172.1
95.3
122.6
108.0
113.2
80.9
112.6
114.9
119.8
172.1
93.1
121.2
105.4
111.5
79.4
106.7
114.0
119.5
173.7
90.7
121.0
104.1
111.9
79.7
109.1
114.1
118.9
172.7
91.6
120.3
105.2
111.8
82.2
111.2
113.4
118.3
177.6
90.4
118.4
105.2
113.0
78.5
111.0
115.2
121.0
182.8
90.1
119.3
105.7
112.7
77.7
113.9
114.2
118.6
183.7
91.8
121.1
106.1
111.8
76.4
110.6
113.8
117.7
184.2
92.7
121. £,
106.9
114.9
78.2
119.5
115.9
120.4
185.1
94.7
122.8
108.7
114.6
76.6
115.3
116.4
121.3
185.4
93.5
125.4
109.6
111.8
74.8
104.1
115.0
120. 6
181.9
90.1
123.0
107.0
do
116.9
do
126.1
do
139.0
do
145.8
do
116.7
do . . . . 127.7
do
113.4
108.5
123 1
137 6
140.0
112 9
129.1
109.7
110.9
124.5
140.5
143.3
111.6
131.4
110.1
106.8
123.0
139.3
138.2
110.9
131.4
111.2
107.2
121.8
137.0
137.8
114.2
129.3
110.3
106.7
122.3
136.0
134.6
114.2
128.1
109.4
106.0
121.8
135.9
137.1
110.5
128.1
108.5
106.4
123.2
136.9
140.2
120.6
128.7
108.4
104.2
121.1
137.5
136.2
111.4
126.9
108.4
105. 6
120.1
132.6
138.3
107.6
127.5
107.8
108.7
122.5
137.2
140.8
110.5
128.4
109.3
108.8
124.4
133.6
140.5
117.6
128.8
108.4
108.2
123.7
132.8
139.9
118.7
126.9
110.1
do
do
do_.
do
do...
109.5
96.2
84.6
106.0
118.7
108 5
96.2
86 6
101 9
116.2
108.1
97.7
83.8
100.3
114.1
108.5
96.5
87.7
101.0
117.0
106.9
96.2
86.4
99.9
116.3
107.8
97.5
89.2
100.4
116.0
107.0
95.3
89.0
100.0
114.9
107.6
92.7
85.4
101.6
114.8
108.6
95.4
79.9
103.0
115.9
108.7
95.5
83.2
103.3
114.8
110.0
96.0
91.1
103.9
117.2
109.9
95.9
87.5
105.1
117.1
107.8
94.6
82 3
100.8
112.4
' 110. 4
'95.3
'90.7
' 106. 4
' 117. 5
' 109. 9
'95.6
'86.7
' 105. 5
' 116. 2
109.0
95.1
79.9
104.4
116.0
Paper and allied products
do
Printing and publishing
do
Chemicals and allied products
do Petroleum and coal products _ . ._ _ -do...
Rubber and plastics products, nee
do
Leather and leather products
do
115.0
115.8
115.9
81.0
146.8
100.6
116 0
118.4
117 4
83 5
143.8
95 0
116.0
119.3
116.2
82.4
145.3
92.0
114.1
119.4
116.5
83.0
145.3
94.7
113.9
118.3
115.1
82.3
127.3
94.1
116.3
118.5
116.0
83.7
131.2
93.7
116.8
118.6
116.9
84.1
129.2
92.7
116.1
118.5
116.9
84.0
148. 1
93.7
115.1
117.8
116.9
84.0
150.0
95.5
116.0
116.8
118.7
85.9
150.3
95.9
116.4
118.1
120.0
86.1
151.5
98.9
117.9
117.4
120.2
84.1
150.4
96.5
116.5
116.6
120 1
86.4
150.0
95 0
' 117. 3 ' 116. 5
' 118. 3 ' 117. 9
'120.9 ' 120. 2
'85.2 '84.6
' 153. 7 ' 154. 0
'97.0
97.0
114.7
117.8
118.1
83.7
151.0
97.4
130. 66
145. 89
112. 34
136 32
154. 19
114. 90
132.09
146. 83
112. 44
134. 51
147. 23
112. 56
134.09
149. 54
113. 52
136. 53
153. 56
114.49
139.43
157.90
113.65
138. 24
159. 08
114. 77
139. 32
162. 60
116. 57
139. 00
160. 40
116. 28
139. 32
161. 24
117. 50
138. 55
154. 76
119. 31
137.45 '137.28 '137.61
151.55 ' 154. 21 ' 153. 79
117.60 '119.07 120. 18
138. 93
158.90
118. 70
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electrical equipment and supplies
Transportation equipment
.
Instruments and related products
Miscellaneous manufacturing ind
Nondurable goods
Food and kindred products
Tobacco manufactures _ . _
Textile mill products
Apparel and other textile products
114.9
'77.1
' 117. 1
'116.4
' 121. 3
' 188. 6
'95.5
' 127. 3
'99.4
114.8
80.0
119. 6
115.6
120.8
188.3
95.4
126.7
109.1
108.7
108.8
123.2 ' 124. 5
134.6 ' 134. 3
140.2 ' 139. 2
118.8 ' 120. 3
127.1 ' 126. 7
110.4
110.9
109.2
120.8
133.2
137.4
117.9
125.9
110.9
115.8
'77.3
' 121. 5
116.7
121.6
' 190. 4
'97.1
127.6
103.1
WEEKLY AND HOURLY EARNINGS
Not Seasonally Adjusted
Average weekly gross earnings per production
worker on payrolls of nonagricultural estab. :t
Mining
dollars
Contract construction
do
Manufacturing establishments
do
r
Revised.
f Preliminary.
fSee corresponding note, bottom of p. S-13.
SURVEY OF CUEEENT BUSINESS
May 1968
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
19G6
1968
1967
| 1967
Mar.
Annual
S-15
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.*
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
WEEKLY AND HOURLY EARNINGS— Con.
Not Seasonally Adjusted— Continued
Avg. weekly gross earnings per prod, worker on
manufacturing payrolls— Continued t
Durable goods
._
dollars
Ordnance and accessories
do_.
Lumber and wood products
do
Furniture and
fixtures
.. _ do
Stone, clay, and glass products
do
Primary metal industries...
... do
Fabricated metal products
_ _ do.
Machinery , except electrical
.do
Electrical equip, and supplies
_
do
Transportation equipment. ._
..do
Instruments and related products
do
Miscellaneous manufacturing ind
do
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
do
.do
do
do
do_.
Paper and allied products
Printing and publishing
Chemicals and allied products
_
Petroleum and coal products
Rubber and plastics products, nee
Leather and leather products.
Wholesale and retail trade .. _
Wholesale trade.
Retail trade .
Finance, insurance, and real estate
.
do
do___.
do
do
do
do
do
do
do
do
Average hourly gross earnings per production
worker on payrolls of nonagricultural estab.:f
Mining
dollars.. _
Contract construction
do
Manufacturing . ._
do
Excluding overtime.
do
Durable goods
do
Excluding overtime
do
Ordnance and accessories,.
...do
Lumber and wood products. __
do
Furniture and
fixtures
do
Stone, clay, and glass products
.-do
Primary metal industries..
Fabricated metal products
Machinerv, except electrical
Electrical eauip. and supplies
Transportation equipment
Instruments and related products
Miscellaneous manufacturing ind
do
_ .do
do
-do_.
do
do
.do .
Nondurable goods _
do
Excluding overtime
do
Food and kindred products
do
Tobacco manufactures —
do
Textile mill products
_ do
Apparel and other textile products
do
Paper and allied products
do
Printing and publishing. do
Chemicals and allied products.
..do
Petroleum and coal products __
do
Rubber and plastics products, nee
do
Leather and leather products
do
Wholesale and retail trade
do
Wholesale trade
do
Retail trade. ...
do
Finance, insurance, and real estate
_ do
122.09
134. 94
91.80
91.72
114. 24
123 60
135. 43
95.91
93.73
117. 73
121.36
133. 54
93.09
90.74
113. 70
121.18
132. 48
94.77
90.46
115. 23
122. 89
134. 08
95.18
91.25
116. 62
123. 19
132. 25
97.27
93.09
117. 46
122. 40
134.05
96.64
92.40
118.01
123.30
135. 11
96.88
95.06
119.99
126. 05
138. 65
99.72
97.41
121. 11
125. 44
137. 43
99.55
97.82
121. 25
126.07
139. 35
99.96
97.34
122. 38
129.58
140. 44
97.20
99.84
120. 22
127. 70
135. 53
94. 22
93.36
116. 69
128.96
'139.77
'101.09
' 98. 01
'119.60
129. 68
'137.28
'100.50
' 98. 42
'119.60
128. 11
135. 63
102. 97
96.96
122.01
138.09
121. 69
134. 90
109.18
141.86
114. 93
88.80
136 94
123. 26
135. 15
111 76
142. 42
117. 01
92 59
135. 38
120. 72
136. 20
108 93
136. 49
115. 51
92 20
133. 57
121. 54
134. 82
108 35
137. 30
115. 77
91.57
134.64
123. 26
134. 30
110. 12
141. 78
115.90
91.57
136. 12
122. 84
134.09
111.88
141. 17
117. 01
92.20
136.27
121.66
133.24
111.32
140.29
116.28
90.79
137. 50
123.55
132.82
111.76
143. 52
117. 14
92.04
138. 58
126. 00
136. 10
112. 31
147. 48
118. 53
92.66
137. 90
124.38
135. 46
114.09
146. 86
118. 53
93.53
141. 25
124. 92
137. 05
115. 87
141.35
119. 36
94.56
143. 45
127. 80
139. 53
117. 67
152. 01
120. 89
96.47
144.35
126. 28
137. 10
115. 60
151. 68
117. 27
95.06
144. 70
'125.87
'139.59
116. 06
'148.63
'118.84
'98.46
'146.23
'128.03
140.44
'115.49
'151.26
'118.96
98.36
147. 14
126.07
138.36
114.05
147.24
118. 48
97.22
98.49
103.82
84.97
82.12
68.80
102 03
107 98
87 01
84 25
73.08
100 08
106 52
87 52
81 20
71.80
100 22
105. 86
91 33
81 20
72.16
100. 73
107. 18
90 30
82.22
71.80
101. 63
108. 50
94 41
82.82
72.52
102. 03
108. 62
91 44
81.41
72.16
102. 80
107. 94
87.75
83.84
74.05
104. 66
109. 67
86.33
86.73
74.73
104. 14
107. 98
86.05
88.19
73.75
105. 06
109. 47
83.42
89.03
74.93
105. 60
110. 29
85.03
89.67
74.88
103. 86 106. 40 '106.79
109. 87 '110.28 '110.68
85.88 ' 93. 23 ' 91. 27
84.74 ' 89. 64 ' 90. 06
72.66
79.57 ' 79. 94
105. 30
110. 37
90.22
87.48
77.17
119. 35
122. 61
125. 16
144. 58
112. 14
74.88
122 84
125. 95
128 96
152. 87
113. 85
79 07
119 71
125. 06
126 88
150 94
110. 16
75 65
119 00
124. 03
127 49
153. 15
110. 30
75 19
120. 28
124.86
127. 10
153. 58
107. 57
77.04
122. 41
124. 86
128. 65
152. 72
109.03
79.28
123. 69
124.91
129.48
156.67
105.73
79 75
124. 41
126. 28
129. 17
153. 79
116.89
80.11
125. 85
128. 21
130. 31
155. 52
119. 71
80.26
125. 85
127. 25
130. 73
155. 23
119. 99
80.43
125. 99
127.64
132. 40
156. 52
120. 12
82.92
127. 74 124. 91 125. 50 125. 93
129.75 126. 38 129. 20 '130.30
132. 82 132. 07 '133.02 '132.70
150. 06 157. 36 '153.55 '153.18
119. 55 117. 55 '117.42 '118.40
83.28 81. 92 85.80 ' 85. 47
123. 85
128. 59
134. 18
156. 98
114. 57
82.96
79 02
111.38
68 57
92 50
82 35
116. 76
70 95
96.57
80 59
114. 74
69 30
95 35
80 73
115. 26
69 80
95.83
81.09
115. 66
69 80
96.20
82 80
116. 64
71 56
96.20
84 15
117.62
72 96
97.20
84.15
116. 64
72.96
96.83
83.45
118. 08
71 66
97.31
82.90
118.08
71.55
98.69
82.67
118. 48
71.34
98.42
83.45
119. 88
72.22
99.16
3.06
3 88
2 72
2.59
2 90
2 76
3.19
2.25
2 21
2.72
3.20
4 09
2 83
2.72
3 00
2 88
3.24
2.38
2.32
2.83
3.16
3 99
2.79
2.69
2 96
2 85
3.21
2.31
2 28
2.78
3.18
3 99
2.80
2.70
2 97
2.86
3.20
2.34
2.29
2.79
3.17
4.02
2.81
2.70
2.99
2.87
3.20
2.35
2.31
2.81
3.19
4.02
2.82
2.71
2.99
2.88
3.21
2.39
2.31
2.81
3.22
4 08
2 82
2.71
3 00
2 88
3.23
2.41
2. 31
2.83
3.20
4.10
2.82
2.71
3.00
2.88
3.24
2.41
2.33
2.85
3.24
4.18
2.85
2.73
3 03
2.89
3.27
2.45
2.37
2.87
3.24
4.21
2.85
2.74
3.03
2.90
3.28
2.44
2.38
2.88
3.24
4.21
2.88
2.76
3.06
2.93
3.31
2.45
2.38
2.90
3.26
4.24
2.91
2.79
3.10
2.96
3.32
2.43
2.40
2.89
3.32
4 33
2.94
2.83
3 13
3 00
3.33
2.46
2 40
2.91
3.30
4.26
'2.94
2.83
3.13
3.00
'3.32
2.49
2.42
2.91
'3.30
4.26
2.96
2.84
3.14
'3.02
'3.30
'2.50
2.43
' 2. 91
3.30
4.26
2.96
2.86
3.14
3.02
3.30
2.53
2.43
2.94
3.28
2.87
3.08
2.65
3.33
2.73
2.22
3.34
2.97
3.18
2.78
3.44
2.84
2.35
3.31
2.93
3.16
2.73
3.37
2.79
2.34
3.29
2.95
3.15
2.75
3.39
2.81
2.33
3.30
2.97
3.16
2.76
3.40
2.82
2.33
3.32
2.96
3.17
2.79
3.41
2.84
2.34
3.34
2.96
3.18
2.79
3.43
2.85
2.34
3.37
2.97
3.17
2.78
3.45
2.85
2.33
3.38
3.00
3.21
2.78
3.47
2.87
2.34
3.38
2.99
3.21
2.81
3.48
2.87
2.35
3.42
3.01
3.24
2.84
3.49
2.89
2.37
3.44
3.05
3.26
2.87
3.56
2.92
2.43
3.47
3.08
3.28
2.89
3.62
2.91
2.45
3.47
3.07
3.30
2.88
'3.59
2.92
'2.48
'3.49
'3.10
3.32
'2.88
'3.61
'2.93
2.49
3.52
3.09
3.31
2.88
3.60
2.94
2.48
2.45
2.35
2.52
2.19
1.96
1.89
2.75
3.16
2.98
3.41
2.67
1.94
2.13
2.73
1 91
2.48
2.57
2.48
2.64
2.26
2.06
2. 03
2.87
3.28
3.10
3.58
2.75
2.07
2.25
2.89
2 01
2.61
2.54
2.45
2.63
2.34
2.02
2.00
2.81
3.24
3.05
3.56
2.70
2.05
2.22
2.84
1.98
2.57
2.55
2.46
2.64
2.36
2.02
2.01
2.82
3.23
3.05
3.57
2.71
2.06
2.23
2.86
2.00
2.59
2.55
2.46
2.64
2.37
2.03
2.00
2.83
3.26
3.07
3.58
2.63
2.06
2.24
2.87
2.00
2.60
2.56
2.46
2.64
2.39
2.03
2.02
2.86
3.26
3.10
3.56
2.64
2.07
2.25
2.88
2 01
2.60
2.57
2.47
2.63
2.40
2.02
2.01
2.89
3.27
3.12
3.61
2.63
2.05
2.25
2.89
2 01
2.62
2.57
2.47
2.62
2.25
2.04
2.04
2.90
3.28
3.12
3.56
2.77
2.07
2.25
2.88
2 01
2.61
2.61
2.50
2.63
2.18
2.10
2.07
2.92
3.33
3.14
3.60
2.83
2.09
2.28
2 93
2 03
2.63
2.61
2.50
2.64
2.13
2.12
2.06
2.92
3.34
3.15
3.61
2.85
2.10
2.29
2.93
2.05
2.66
2.62
2.52
2.67
2.15
2.13
2.07
2.93
3.35
3.16
3.64
2.86
2.11
2.29
2.94
2.05
2.66
2.64
2.54
2.69
2.22
2. 14
2.08
2.95
3.37
3.17
3 59
2.86
2.13
2 28
2 96
2 04
2 68
2 67
2 57
2.74
2 34
2 14
2 10
2.96
3 37
3 19
3 72
2.86
2.15
2 33
2 97
2 09
2 70
2.68
2.58
2.75
'2.46
2.16
2.18
2.96
3.40
'3.19
3.70
2.85
2.20
2.36
3 01
' 2 11
'2 72
2.69
2.59
2.76
'2.46
2.17
'2.19
2.97
3.42
'3.19
'3.70
'2.86
2.22
'2.37
'3.02
2.12
'2.73
2.70
2.62
2.78
2.52
2.16
2.18
2.97
3.42
3.21
3.72
2.85
2.23
2.37
3.02
2.13
2.75
3.887
5.527
1 33
13.293
3.757
5.371
3.832
5.464
3.876
5.533
3.978
5.627
4.009
5.713
4.061
5.750
4.061
5.750
4.076
5.761
1.43
3.226
3. 271
3.312
3.338
4.040
5.747
1.42
3.212
3.997
5.660
1 29
3.262
4.001
5.687
3.269
3.962
5.560
1 36
3.259
3.978
5.620
3.179
3.757
8.374
104.
3.235
101. 26
87.07
99.30
86.35
99.40
86 21
100. 16
86.64
100. 93
87.01
100. 27
86.07
101. 16
86.54
102. 61
87.63
102. 37
87.12
103. 35
87.73
104. 81
88.67
54, 448
45, 173
38.2
53,289
44, 136
38.0
38.2
99.56
2.62
53, 631
44, 440
37.8
38 0
99.41
2.63
53,990
44, 782
37.9
38.0
100.06
2.64
54, 850 54, 858 55,168 55, 057 55, 038 55, 459 55, 848 54, 079 '54,343 '54,611
45, 545 45. 493 45, 785 45, 696 45, 688 46, 090 46,449 44,683 '44,930 '45,165
37. 7
37.7
37.5
38.2
38.5
38.1
38.1
38.3
38.4
38.6
37.9
38.0
37.7
38.0
38.2
38.3
38.1
38.0
38.2
38.4
101.88 103. 18 103. 45 104. 06 103. 25 103. 63 103. 90 102. 75 104. 05 104. 43
2.77
2.76
2.74
2.72
2.72
2.71
2.68
2.66
2.71
2.68
fSee corresponding note, bottom of p. S-13.
§ Wages as of May 1,1968: Common labor, $4.162; skilled labor, $5.865.
Miscellaneous hourly wages:
Construction wages, 20 cities (ENR):§
Commonlabor
,
. __ $perhr
3.623
Skilled labor
do....
5.207
Farm without board or rm 1st of mo
do
1 23
Railroad wages (average, class I)
do
i 3. 106
Spendable Weekly Earnings t
Spendable average weekly earnings per worker (with
three dependents) in manufacturing industries:
Current dollars
99.45
Constant dollars
. _ 1957-59 dollars
87.93
PRIVATE SECTOR SERIES
Not Seasonally Adjusted
Excludes government employees:
Employees, total, nonagricultural estab
thous_ . 53, 111
Production or nonsupervisory workers
do .
44, 234
Hrs. (gross), av. weekly: Unadjusted.. hours..
38.7
Seasonally adj do
Weekly earnings (gross), average. --.dollars..
98.69
Hourly earnings (gross), average
do . .
2.55
' Revised.
* Preliminary.
1
Includes adjustments not distributed by months.
101. 99
2.67
83.65 84.49 ' 84. 61 83.90
118. 80 '120.10 '120.50 120. 20
72.42
72.72
72.11 ' 72. 80
99.90 '100.37 '100.46 101. 20
r
!04 61 105 50
87.21 ' 87. 91 88.28
55, 355
45, 757
07 c
37.7
104. 63
2.79
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
1967
May 1968
1967
Annual
Mar.
Apr.
May
June
July
1968
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HELP- WANTED ADVERTISING
Seasonally adjusted index
. 1957-59=100..
LABOR TURNOVER
Manufacturing establishments: t
Unadjusted for seasonal variation:
Accession rate, total
mo. rate per 100 employees
New hires
-do
Separation rate total
do
Quit
do
Layoff
-do
Seasonally adjusted:
Accession rate total
do
New hires
do
Separation rate, total
do
Quit
do
Layoff
.
.
. do _
INDUSTRIAL DISPUTES
Strikes and lockouts:
Beginning in period:
Work stoppages
number
"Workers involved
thous
In effect during month:
Work stoppages
number
Workers involved
thous
Man-days idle during period
do
EMPLOYMENT SERVICE AND UNEMPLOYMENT INSURANCE
Nonfarm placements
thous
Unemployment insurance programs:
Insured unemployment all programs©
do
State programs:
Initial claims
do
Percent of covered employments
Unadjusted
Seasonally adjusted __
_
Beneficiaries weekly average
thous
Benefits paid
mil $
Federal employees, insured unemployment,
weekly average
thous
Veterans' program (UCX):
Initial claims . _ .
_ _ _ _ _ _ do.
Insured unemployment weekly avg do
Benefits paid
mil $
Railroad program:
A pplications
th ous
Insured unemployment, weekly avg... do
Benefits paid
mil $
190
182
184
181
174
171
169
180
185
186
187
190
184
193
'202
5.0
3.8
46
26
1.2
4 4
3.2
46
23
1.4
39
2*8
46
21
15
39
28
43
2 2
13
46
33
42
22
11
5
4
4
2
I
9
5
3
3
1
46
33
48
21
19
5 4
40
53
32
11
53
41
62
40
12
47
37
47
24
13
3.7
2.7
40
1.9
1.3
28
2.0
39
1.5
1.6
4.2
2.9
44
2.0
1.5
3.8
2.7
'3.9
1.9
'1.2
*3.8
J>2.8
M.O
i>2.0
"1.1
41
32
52
24
17
42
31
4 7
23
15
4 6
32
46
2.2
1.4
32
48
24
14
30
44
21
16
31
43
2.3
1.1
32
4.7
2.3
1.3
35
4.5
2.2
1.3
3.3
4.3
2.4
1.2
3.4
4.1
2.4
1.1
45
3.4
4.5
2.4
1.4
4 5
3.4
'4.7
2.5
'1.4
M0
*>3.2
P4.5
*2.3
pl.3
4,405 » 4 475
1 960 v 2 900
430
141
440
409
535
255
430
177
375
804
385
86
405
375
405
158
300
197
190
65
310
135
330
232
330
130
25 400 *>41 000
575
202
1 490
600
443
2 170
695
402
3,900
670
350
4 360
630
1 010
4 710
655
231
2 840
670
484
6,320
645
440
6,510
530
388
3,060
400
194
2,610
470
211
2,520
500
326
3,780
3, 550
460
6 493
5 817
460
476
507
537
487
552
558
540
1 123
1 270 1 603
1 423
1 197
1 070
1 246
1 122
955
953
10, 575
1 061
1,061
11 760
1 205 1 532
848
1,218
1,005
803
1 360 1 142 1 019 1 184
872
1 059
663
894
798
889
2.3
895
1 771
2.5
1 017
2 092
••20
"188
510
302
380
419
400
438
1 068 1 338
1,718
1,651
1, 478
910
997
1,149
1 259
1,460
1,624
969
1,556
1,390
762
3.3
2.6
1 374
257 5
2.9
2.7
1,244
200 6
2.4
2.7
1,014
183.6
2.1
2.6
925
156 1
2.4
2.8
907
147 3
2.2
2.6
946
172 8
1.8
2.4
759
122 6
1.8
2.4
713
122 1
2.0
2.3
776
134 9
2.6
2.3
942
159.2
3.3
2.3
1,317
248.5
3.2
2.3
1,374
243.7
1,298
231.1
22
19
18
18
20
19
18
20
21
23
28
29
26
21
36
20
182
21
19
39.5
222
23
21
46 3
16
24
22
4 2
14
21
21
36
14
19
18
34
17
19
19
35
22
24
18
31
21
25
23
44
18
22
21
37
20
22
19
3.5
22
26
21
40
25
33
26
4.6
31
40
36
6.9
24
40
38
6.7
145
20
39 3
241
'20
40 6
5
23
4.2
4
20
30
3
17
2.8
15
14
25
21
17
2.1
12
18
3.2
15
21
2.9
56
21
4.2
54
23
4.1
39
23
4.4
25
26
4.7
12
27
4.0
2.8
2.3
26
FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers' acceptances
mil $
Commercial and finance co. paper, total
do
Placed through dealers
do
Agricultural loans and discounts outstanding of
agencies supervised by the Farm Credit Adm.:
Total end of period
mil $
Farm mortgage loans:
Federal land banks
_.
do
Loans to cooperatives
do
Other loans and discounts
do
3 603
13 279
3 089
10 190
9 452
4 958
1 290
3 205
Bank debits to demand deposit accounts, except
interbank and U.S. Government accounts,
annual rates, seasonally adjusted:
Total (233 SMSA's)O
bil. $
New York SMSA
do
Total 232 SMSA's (except N.Y.)
do__._
6 other leading S MSA's t
do
226 other SMSA's
do
5 923 1
2 502 2
3, 420. 9
1 328 1
2, 092. 7
Federal Reserve banks, condition, end of period:
Assets, total 9
mil. $__
70, 332
Reserve bank credit outstanding, total 9 -do
Discounts and advances
do
U.S. Government securities
do
Gold certificate reserves
do
Liabilities, total $
.
Deposits, total.
Member-bank reserve balances
Federal Reserve notes in circulation
do
do
do
do ~
Ratio of gold certificate reserves to FR note
liabilities
....percent..
47, 192
173
44, 282
12 674
4
17
4
12
317
084
901
183
10 848
3 704
16 034
4 360
U
fV7d
Q Q^7
5 609
5 111
1 506 1 363
3 733 3' 463
3 830
16 249
4 356
n
ono
3
17
4
12
1fl
IfVt
10 280
5,248
5 175
1 337
3' 590
6 661 5 6 315 9 6 553 5
2 921 2 2 756 6 2 864 0
3, 740. 3 3, 559. 3 3, 689. 5
1 471 8 1 386 8 1 451 4
2, 268. 5 2, 172. 5 2, 238. 1
75, 330
51, 948
141
49, 112
11 481
67, 385
69, 015
46, 507
42
44, 908
12 611
47, 267
54
45, 460
12 604
1 316
3 716
4 131
16 150
4 934
4 116
17? 044
4 976
19 nfto
4
16
4
11
103
816
979
837
4 146
16, 220
5 124
11 096
4
16
5
11
136
777
186
591
4,218
17, 147
5,136
12 Oil
4,317
17, 084
4,901
12 183
4,312
18, 370
5,216
13 154
10 435
10 605
10 661
10 624
10 661
10 675
10 848
5 303
1 296
3 836
5 358
1 335
3 911
5,404
5,449
5, 502
1 438
3 721
5,546
5,609
n
oifi
1 368
3 889
1 384
3 790
1,475
3 654
1,506
3,733
4,266
17, 813
5,493
4,336
19,207
5,832
12 320
13 375
11 012
11 188
11, 361
5,661
1,565
5,721
1,595
3,871
1,598
3, 970
3,785
5,793
6 348.2 6 637 2 6 688 7 7, 067. 8 6, 799. 4 6, 993. 0 6, 997. 7 7, 047. 0 7,369.4
7,263.9 7,218.7
4,046.0
2 734 5 2 904 1
3, 613. 7 3, 733. 1
1 409.2 1 476 4
2, 204. 5 2, 256. 7
68, 862
47, 799
415
46, 066
12, 608
70, 135
48,268
68
46, 718
2 857 1
3, 831. 6
1 560 5
2, 271. 1
70, 516
47, 603
41
46, 804
12,610
12,604
3 185 7 2 952 4 3 102 4 3 100 8 3, 149. 7
3, 882. 1 3,847.0 3, 890. 6 3,896.9 3,897.3
1 575.0 1,513 6 1, 537. 7 1, 557. 8 1, 515. 4
2,307.1 2,333.4 2,352.9 2,339.1 2, 381. 9
70, 126
48, 363
36
46, 555
12 499
71,193
48,860
71,383
48,873
120
74
46, 916
12 510
47,390
12, 410
73,418
75,330
12 392
51, 948
141
49, 112
11, 481
50,869
76
48,931
7, 500. 7
3, 323. 4 3, 216. 8 3, 197. 9
4,047.1 4,020.8
3,285.5
4,215.2
1, 584. 8 1, 593. 3 1, 601. 6
2, 461. 2 2,453.8 2,419.2
2,541.7
1, 673. 5
74,319
73, 462 '72,892
74,379
51, 434
843
49, 092
11, 484
51, 056 '52,127
166
48, 952
11, 384
52, 598
741
50, 507
10, 128
672
49,691
10, 131
70 332
75 330
67 385
69 015
68 862
70 135
70 516
70 126
71 193
71, 383
73 418
75, 330
74, 319
73, 462 '72,892
74, 379
20 972
19, 794
40, 196
22 920
20, 999
42 369
20 561
19, 148
39 013
21 353
19, 410
39 070
20 844
19, 634
39, 499
21 474
19, 505
39 934
20 813
18, 877
40, 199
21 433
19' 789
40 363
22 072
20, 686
40 413
21 877
20, 604
40, 628
22 837
23 614
20',648
23, 040 '22,614
21, 195 '21, 133
41, 211 41, 490
22, 871
21, 207
41 488
22 920
20, 999
42, 369
41,811
31.5
27.1
32.3
32.3
31.9
31.6
31.4
31.0
31.0
30.5
29.J)
27.1
27.8
24.4
24.2
'Revised.
»Preliminary.
fSee corresponding note, bottom of p. S-13.
©Excludes persons under extended duration provisions.
^Insured unemployment as % of average covered employment in a 12-month period.
964
067
713
354
21,838
41, 365
27.6
OTotal SMSA's include some cities and counties not designated as SMSA's.
llncludes Boston, Philadelphia, Chicago, Detroit, San Francisco-Oakland, and Los
Angeles-Long Beach.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
May 1968
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
| 1967
End of year
S-17
1968
1967
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
23,791
23,404
387
89
298
24,200
23,842
358
90
268
24,608
24,322
286
126
160
24,740
24,337
403
133
270
25, 260
24, 915
345
238
107
25,834
25,453
381
237
144
25, 610 '25,580
25, 211 '25,224
399
'356
361
671
38 '-315
Mar.
Apr.
FINANCE—Continued
BANKING- Continued
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total
_ _ . mil. $ 123,830 125,260 23,405 23,362 23,284
Required
do. _ 123,438 i 24, 915 22,970 23,053 22, 914
1392
1345
Excess
do
370
435
309
i 557
1238
Borrowings from Federal Reserve banks. __do
134
101
199
i -165
1107
Free reserves _
_
._
___do
269
175
236
Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:
Deposits:
75, 120
Demand, adjustedc?
mil. $
81,848 72,841 71,484 72, 785
114, 765 127, 277 106, 592 110,455 111,495
Demand total 9
- do
83, 108
Individuals, partnerships, and corp—.-do
92, 380 77,469 77,831 79,782
6,137
State and local Governments,
do.___
6,231
6,249
6,229
5,937
3,882
U S Government
_ _ _ do
3,818
3,752
6,150 2,705
13, 838
Domestic commercial banks _
do. _
15,752 12,462 12,927 13,490
Time, total 9
do
Individuals, partnerships, and corp.:
Savings
do
Other time .
__ do
Loans (adjusted) , totalc?
Commercial and industrial
_
For purchasing or carrying securities
To nonbank financial institutions
Real estate loans..
__
Other loans
23,518
23,098
420
123
297
23,907
23, 548
359
87
272
25,542
25,279
263
683
-420
73,174 74,349 73,321 74,395 77, 183 76, 649 81,848 78, 598 75, 721 76,244 78,384
109,402 112,460 107, 686 113,043 118, 625 113, 421 127,277 120,128 116, 456 117, 044 121,317
79,244 81,031 79, 157 81,444 84,808 83,521 92,380 86,053 82,761 84, 721 86, 147
5,503
5,984
5,665
6,301
5,607
5,919
5,620
6,683
6,231
7,121
6,089
6,515 3,323
5,353
5,467
3,103 3,458 2,322
4,031 3,368
3,818
5,208
12, 700 13,445 12,643 12,846 13,960 12,774 15, 752 13,298 12, 785 14, 202 13,394
89, 639
102, 921
96,133
96,569
97,829
98,847 100,731 101,827 101,659 102, 189 102,969 102,921 104, 178 104,961 104,696 104,080
47, 213
29,002
48,864
38,273
47,098
34,039
46,970
33,769
47,285
34,706
47, 738
35,117
134, 761
do
do____ 60, 779
do
6,691
do
11, 228
-do
27, 492
do
34,729
Investments, total
.
_ _. do
51, 502
U.S. Government securities, total
do
24, 803
Notes and bonds
do
19, 816
Other securities. _ _
_
-do
26, 699
Commercial bank credit (last Wed. of mo., except
for June 30 and Dec. 31 call dates) , seas, adj.tf
Total loans and investments©
__.bil. $._ 2 310. 2
2207.8
LoansO
'.
do
U.S. Government securities
do
53.7
2
Other securities
.
do
48. 7
Money and interest rates: §
Bank rates on short-term business loans: t
In 35 centers
percent per annum..
New York City.
do....
7 other northeast centers..
..do
8 north central centers
do ..
7 southeast centers....
do___.
8 southwest centers
do
4 west coast centers
_
do
Discount rate (N.Y.F.R. Bank), end of year or
month
percent..
4.50
Federal intermediate credit bank loans
do. .
35.82
3
Federal land bank loans
do
5.74
Home mortgage rates (conventional 1st mortgages) :t
New home purchase (U.S. avg.)
percent..
36.14
Existing home purchase (U.S. avg.)_
do
36.30
Open market rates, New York City:
Bankers' acceptances (prime, 90 days)
do
45.36
Commercial paper (prime, 4-6 months)__do
45.55
Finance Co. paper placed directly, 3-6 mo. do
* 5. 42
Stock Exchange call loans, going rate
do. _
*5.78
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent . . 44.881
3-5 year issues _ _
.____
do.
45.16
143,966 133,027 134,237
66,290 61,962 62, 648
8,350
6,642
6,901
10, 470
9,723
9,612
28, 988 27, 131 27, 087
37,700 33,852 34,068
49, 006
39, 616
48,438
37,949
48,533
38,788
133,106 136,042 137,270 135,488 138,009
61,836 63,769 63,419 62, 189 63,372
6,302
7,024
7,247
6,050
7,454
9,634 10,269
9,495 10, 185
9,906
27,295 27, 547 27, 797 28, 094 28, 337
34,509 35,246 35,020 35,273 35, 466
139,217
63,401
7,791
10,428
28, 531
35,730
138,213 143,966 141, 762 140, 511 142,068 144, 872
63,733 66,290 64,994 65, 057 67,014 67, 757
7,562
8,360
6,817
6,578
8,350
6,938
9,303
9,773 10,470
9,676
9,597 10, 540
28,754 28,988 29,035 29,106 29,268 29,543
35,597 37,700 36,293 36,431 36,092 37,016
61, 677
28,915
21,842
32, 762
61,485
28,400
22,436
33,085
47,957
37,449
61,804
28,371
22,322
33,433
56,038
26, 770
21, 248
29,268
56,033
25, 326
21,446
30, 707
56,270
25,398
21,544
30,872
55, 783
24,126
21,334
31, 657
58,268
26,004
21, 041
32,264
59, 321
26,903
22,274
32, 418
59, 717
27,043
21,978
32, 674
' 345. 9
••224.9
'59.6
'61.4
321.4
211.3
57.8
52.3
323.2
213.5
56.1
53.6
324.6
213.5
56.1
55.0
325.6
213.9
55.4
56.3
332.4
217.1
58.8
56.5
337.3
218.2
61.8
57.3
339.5
220.2
61.6
57.7
35.99
35.72
36 34
35.96
35 96
36.06
36.09
48,620
39,910
48,349
37, 174
47,836
36,604
48,516
39,639
48,386
39, 113
62, 057 62,927
28,080 28,738
22,057 '23,870
33,977 34, 189
61,482
27, 208
23,423
34,274
60,885
26,005
23,210
34,880
342.6 '344.4 '345.9 ' 349. 0 '353.0
222.3 '224.9 ' 227. 5 '228.7
221.8
61.8
59.1
61.8 '59.6
62.3
58.6 '60.3 ' 61. 4 '62.4 '62.6
'351.8
'228.5
59.9
'63.5
354.8
232.1
59.2
63.4
61,804
28,371
22,322
33,433
5.96
5.71
6.29
5.91
5.94
6.03
6.03
5.95
5.66
6.29
5.92
5.92
6.01
6.02
5 95
5.67
6.32
5.91
5.93
6.04
6.05
48,864
38,273
6.36
6.14
6.73
6.35
6.21
6.41
6.31
4.50
35.88
36.02
4.50
6.17
6.00
4.00
6.03
6.00
4.00
5.78
6.00
4.00
5.72
6.00
4.00
5.63
6.00
4.00
5.62
6.00
4.00
5.64
6.00
4.00
5.66
6.00
4.50
5.78
6.00
4.50
5.82
6.24
4.50
5.98
6.68
4.50
6.10
6.71
5.00
6.21
6.71
5.50
36.33
36.40
6.34
6.44
6.31
6.34
6.25
6.29
6.23
6.28
6.31
6.30
6.28
6.34
6.31
6.36
6.34
6.39
6.33
6.42
6.41
6.51
6.39
6.57
6.47
6.58
6.50
'6.59
6.56
6.64
44.75
45.10
44.89
45.66
4.68
5.24
5.01
5.75
4.29
4.83
4.57
5.50
4.27
4.67
4.41
5.50
4.40
4.65
4.40
5.50
4.58
4.92
4.70
5.50
4.77
5.00
4.75
5.50
4.76
5.00
4.77
5.50
4.88
5.07
4.96
5.50
4.98
5.28
5.17
5.68
5.43
5.56
5.43
6.00
5.40
5.60
5.46
6. 00
5.23
5.50
5.25
6.00
5.50
5.64
5.40
6.00
5.75
5.81
5.60
6.18
4 4. 321
45.07
4.288
4.52
3.852
4.46
3.640
4.68
3.480
4.96
4.308
5.17
4.275
5.28
4.451
5.40
4.588
5.52
4.762
5.73
5.012
5.72
5. 081
5.53
4.969
5.59
5.144
5.77
5.365
5.69
97,875
CONSUMER CREDIT
(Short- and Intermediate-term)
Total outstanding, end of year or month
mil. $._
94, 786
99,228
92, 519
93, 089
93,917
94,813
95, 115
95,684
95, 886
96,094
96,802
99, 228
98, 225
97,672
do. .
74, 656
77, 946
73, 591
73,840
74,290
75,051
75,348
75,889
76, 039
76,223
76,680
77, 946
77, 467
77,327
77,581
30, 961
19, 834
3,751
20, 110
31, 197
21, 328
3,731
21, 690
30, 527
19,369
3,648
20, 047
30, 635
19, 376
3,636
20, 193
30,852
19,442
3,670
20, 326
31,208
19,580
3,696
20, 567
31, 364 31,455
19,607 19, 755
3,711 3,743
20, 666 20,936
31,296
19, 914
3,742
21, 087
31,237
20,042
3,746
21, 198
31,217
20,340
3,748
21, 375
31, 197
21, 328
3,731
21, 690
31, 061
21, 097
3,678
21,631
31,137
20, 785
3,653
21, 752
31,380
20,692
3,636
21,873
65, 565
32, 155
16, 936
8,549
6, 014
1,911
68, 273
33, 992
16, 851
9,169
6,294
1,967
65, 006
32, 068
16, 593
8,485
5,951
1,909
65, 298 65, 733
32, 299 32, 560
16, 590 16, 615
8,561 8,665
5,951 5,947
1,946
1,897
66,452
32,966
16, 721
8,826
5,995
1,944
66, 781 67,273
33, 235 33, 536
16, 747 16, 755
8,864
8,991
6,009
6, 036
1, 926
1,955
67,376
33,637
16, 701
9,026
6,067
1,945
67, 513
33,723
16, 698
9,054
6,086
1,952
67,763
33,819
16,722
9,113
6,138
1,971
68, 273
33, 992
16, 851
9,169
6,294
1,967
68,076
34, 017
16, 775
9,063
6,251
1,970
68,215
34, 155
16, 706
9,094
6,270
1,990
68,570
34,411
16,700
9,172
6,289
1,998
Retail outlets, total
_
do
8,542
8,557
9, 091
8,585
9,673
Automobile dealers
do
494
490
486
490
506
Noninstallment credit, total
do
20,130
21, 282 18,928 19,249 19,627
Single-payment loans, total
do
8,017
7,844
7,769
7,890
8,267
Commercial banks
.
do
6,758
6,848
6,714
6,647
7,064
Other financial institutions
_
.do
1,169
1,122
1,132
1,130
1,203
Charge accounts, total....
do
7,144
6,231
5,809
5,923
7, 595
Credit cards
_ _ _ _
do
874
922
939
898
1,054
Service credit
do
5,142
5,436
5,379
5,350
5,420
' Revised.
1
Average for Dec.
2 Effective with the June 9 jhange in Federal 1Reserve i•egulatio us,
<
data exclude loan balances accumulated for payment of persona 1 loans (at>OUt$l.l bil.); beg inrung June 30, about $1 bil. of certificates, formerly in ' other loans," areiii" other securitie 3."
3 Average for year.
* Daily average.
cfFor demand deposits, the term "adjusted" denot 3S demancI deposits other thsin domestic
commercial interbank and U.S. Government, less <;ash item 3 in proce ss of collection; for
8,599
502
19,762
8,077
6,902
1,175
6,334
965
5,351
Installment credit, total.. ^
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
C onsumer finance companies
Other.
__do
do
do.
do
.do
do__.
do
do
do
do
9,391 9,112
8,917
9,011
8,616
8,663
8,710
9,673
504
514
506
507
506
508
507
506
19, 795 19, 847 19,871 20,122 21, 282 20, 758 20,345 20,294
8, 288
8,325
8,370
8,237
8,136
8,179
8,189
8,267
7,075
7,098
7,136
7,034
7,064
6,994
7,001
6,950
1,213
1,203
1,227
1,234
1,203
1,185
1,186
1,188
6,970
6,387
6,386
6,263
6,471 6,614
7,595
6,368
1,081
1,054
1,040
1,046
1,025
1,083
1,056
1,057
5,500
5,634
5,211 5,271 5,420
5,661
5,291 5,281
loans, exclusivej of loan s to donlestic coinmercial banks £md after deducti on of valuation
reserve s (individual loaii items are shown gross; i. 3., before deductic n of valtlation re serves),
9In<iludes da ta not sh own sepa rately.
JRevise d monthly data fc r commercial ban k credit
(1948-6 6) appea r in the Sept. 196 7 Fed. R eserve B ulletia; 1 hose for home m srtgage r ites for
§1"or bond yields,
G)Adjuste d to excl ide inter bank loa ns.
1965-6e will be shown la ter.
fBeginni ng Feb. 1967, series revise i to cover 35 cent ers and e xclude nites for
see p. 3-20.
certain loans foi"merly inicluded ( see May 1967 Fed sral Reserve Bull 3tin).
8,567
506
19,767
8,100
6,927
1, 173
6,346
1,024
5,321
SUKVEY OF CUEEENT BUSINESS
S-18
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
1968
1967
1967
Annual
May 1968
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FINANCE—Continued
CONSUMER CREDIT— Continued
Installment credit extended and repaid:
Unadjusted:
Extended, total
_
Automobile paper.
_
Other consumer goods paper
All other
-
mil $
do
do
do
78,896
28, 491
23, 502
26,903
81,263
27,221
25, 787
28,255
6,641
2,350
1,985
2,306
6,495
2,294
1,927
2,274
7,062
2,559
2,074
2,429
7,458
2,678
2,155
2,625
6,859
2,396
2,071
2,392
7,223
2,392
2,229
2,602
6,590
2,042
2,205
2,343
6,912
2,355
2,215
2,342
7,032
2,222
2,375
2,435
7, 829
2,094
3,088
2,647
6,363
2,178
1,992
2,193
6,372
2,301
1,854
2,217
7,100
2,589
2,140
2,371
Repaid, total
Automobile paper
Other consumer goods paper.
All other
_
do
do
do
do
72,805
26, 373
21,361
25, 071
77,973
26,985
24, 293
26,695
6,648
2,353
2,042
2,253
6,246
2,186
1,920
2,140
6,612
2,342
2,008
2,262
6,697
2,322
2,017
2,358
6,562
2,240
2,044
2,278
6,682
2,301
2,081
2,300
6,440
2,201
2,046
2,193
6, 728 I
2, 414
2,087
2,227
6,575
2,242
2,077
2,256
6,563
2,114
2,100
2,349
6,842
2,314
2,223
2,305
6,512
2,225
2,166
2,121
6,846
2,346
2,233
2,267
do
do
__ do
do
6,510
2,199
2,049
2,262
6,606
2,217
2,095
2,294
6,554
2,238
2,032
2,284
6,823
2,338
2,081
2,404
6,776
2,266
2,147
2,363
6,929
2,285
2,212
2,432
6,973
2,322
2,234
2,417
6,942
2,321
2,165
2,456
7,032
2,305
2,242
2,485
7,035
2,306
2,321
2,408
7, 089
2,437
2,223
2,429
7,245
2,519
2,250
2,476
7,380
2,567
2,331
2,482
do
do
do
do
6,246
2,193
1,899
2,154
6,393
2,235
1,968
2,190
6,361
2,219
1,948
2,194
6,531
2,281
1,995
2,255
6,551
2,228
2,074
2,249
6,585
2,240
2,079
2,266
6,689
2,280
2, 106
2,303
6,631
2,301
2,093
2,237
6,614
2,240
2,105
2,269
6,652
2,250
2,167
2,235
6,691
2,302
2, 088
2,301
6,679
2,308
2,110
2,261
6,814
2,330
2,173
2,311
Seasonally adjusted:
Extended, total _ _
Automobile paper .
Other consumer goods paper
All other
__
Repaid, total
Automobile paper
Other consumer goods paper
All other
__
(
FEDERAL GOVERNMENT FINANCE
Budget receipts, expenditures, and net lending: J
Expenditure account:
,
Receipts.. _.
......mil. $. i 130,901
Expenditure (excl. net lending)
do
i 130,740
Expenditure surplus or deficit (— )
do
U61
Loan account:
Net lending
.do.
1-3,832
Budget surplus or deficit ( — )
do
i~3,67l
Budgetfinancing:1
Borrowing from the public
do
16,031
Reduction in cash balances.
do. . . .
1-2,360
Total, budget
financing
do
1 3, 671
Gross amount of debt outstanding^
do
i 329 473
Held by the public
do .. i 265,609
Budget receipts by source and outlays by function: ^
Receipts, total
mil. $
Individual income taxes
_
do
Corporation income taxes
do..
Other
do
Expenditures and net lending, total..
National defense, total.
Department of Defense, military..
International affairs and
finance
Health, labor, and welfare . .
Other §
do
do
do
do
do
do
Receipts and expenditures (national income and
product accounts basis), qtrly. totals seas. adj.
at annual rates:
Federal Government receipts, total
bil. $..
Personal tax and nontax receipts
do
Corporate profit tax accruals
..do
Indirect business tax and nontax accruals-do
Contributions for social insurance.
do
Federal Government expenditures, total do
Purchases of goods and services.
do
National defense
do
Transfer payments
....do
Grants-in-aid to State and local govts
do
Net interest paid
do
Subsidies less current surplus of government
enterprises
bil $
Surplus or deficit (—)
do
1 149, 591
1 153,238
1-3,647
12,237 12, 134 11,899
14,882 13, 741 14,336
-2,645 -1,607 -2,437
1-5,176
1-8,823
-611
-688
-589
—3,233 —2, 295 -3,049
13,551
i 5, 272
18,823
1 341 343
i 269,160
3,963 4,084 -1,348
-730 -1,790 4.397
3,233 2,295 3,049
365, 020 370, 638
290, 449 294, 534
1149,591
i 61 526
i 33, 971
154,094
12, 237
8, 150
729
3,358
12, 134
5, 627
543
5,964
11,899
3,401
4,397
4,100
1 134,572 1 158,414
i 56, 770 i 70, 092
15,471
14,429
14,947
6,891
6,164
6, 069
1 130,901
l 55 446
i 30, 073
i 45, 382
i 4, 443 • 4, 650
133,226 i 40, 084
i 40, 132 143,588
143.2
61.7
32.3
15.9
33.3
151.8
66.5
31.0
16.6
37.7
149.1
65.5
30.3
16.2
37.0
148.1
64 0
30 3
16.5
37.2
152.7
67 5
30 6
16.7
38.0
157.3
69.1
32.5
17.0
164.9
'71.6
34.0
'17.4
41 8
142.9
77.0
60.5
36.0
14.8
9.5
164.3
89.9
72.5
42.9
16.0
10.5
160.9
87.1
70.2
42.2
15.6
10.4
162.8
89.5
72.5
42.4
15.3
10.4
165.9
90.9
73.3
43.5
16.0
10.5
167.9
92.2
74.2
' 175. 6
••96.2
'76.7
r A ti a
18.2
'11.1
5.4
5.1
5.6
5.3
50
.3
-12.5
'4.2
4.6
-10.7
-10.7
-13.2
-14.7
-11.9
17.1
10.7
LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U.S. life insurance companies t
bil.$
Bonds (book value), total
do
Stocks (book value), total
_
do. _
Mortgage loans, total
_
do
Nonfarm
do
Real estate
Policy loans and premium notes
Cash
Other assets
do
_.do
do
do
2 167. 02
271.90
2 8.76
2
2 64. 61
59 37
169. 86
72.81
7.81
65.80
60.52
170. 57
72.98
7.91
66.02
60.72
171. 24
73.26
8.00
66.25
60.92
171. 88
73.48
8.12
66.41
61.04
173. 13
74.37
8.34
66.32
60.92
173.84
74.76
8.46
66.51
61.07
174. 66
74.96
8.62
66.70
61.24
175. 39
75.37
8.72
66.88
61.40
176. 18
75.63
8.84
67.10
61.60
177. 20
75.49
9.00
67.60
62.04
178.26
76.37
9.06
67.77
62.22
178. 76
76.68
9.17
67.87
62.29
24.88
29.12
21.53
26.23
4.92
9.44
1.26
7.82
4.94
9.54
1.18
8.00
4.95
9.62
1.35
7.80
4.99
9.70
1.30
7.89
5.03
9.74
1.46
7.87
5.05
9.81
1.34
7.92
5.08
9.88
1.34
8.09
5.10
9.93
1.43
7.95
5.16
10.00
1.45
8.01
5.18
10.08
1.56
8.30
5.21
10.17
1.46
8.23
5.24
10.26
1.33
8.21
Payments to policyholders and beneficiaries in
U.S., total
mil. $_. 12, 342. 2 13.293.6 1,236.8 1,034.1 1,103.2 1, 137. 5 969.0 1, 166. 8 1, 118. 8 1,078.1 1, 059. 6 1,373.4 1, 174. 9 1, 150. 8
531.6
5, 218. 2 5,665.3 542.3 454.5 492.1 477.4 429.6 509.7 453.9 465.4 447.3 520.5 531.2
81.0
86.5
96.0
80.8
87.1
78.8
Matured endowments
do
77.5
71.6
87.9
981.6 1, 017. 1
82.7
95.9
85.6
13.7
17.4
14.3
12.9
13.0
16.6
Disability payments
do
13.5
13.3
17.5
13.7
169.3
174.6
16.5
15.1
107.4
91.8 133.5 114.4
109.8
Annuity payments
do
1,152.6 1,261.3 108.1
99.3
101.1 102.2 102.5 102.8 121.0
197.0
196.0
184.0
191.8
Surrender values
do
180.6 184.2
2, 120. 6 2, 243. 1 206.0 189.6
195.7 199.2 169.2 198.0
Policy dividends
do. _ 2, 699. 9 2,932.2 268.0 194.3 213.6 253.3 182.6 265.5 267.9 218.6 210.6 475.6 210.3 213.1
r
concepts adopted pursuant to the recommendations of the President's Commission on Budget
Revised.
» Preliminary,
i Fiscal year.
2 Annual statement values.
Concepts.
§Includes undistributed adjustments to amounts for all functions.
ITTables showing cash transactions and administrative budget receipts and expenditures
have been discontinued. Data shown in the indicated sections are on the basis of budget
I Revisions for Apr. 1966-Feb. 1967 will be shown later.
May 1968
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
SURVEY OF CURRENT BUSINESS
1966
1967
Annual
S-19
1968
1967
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
11,425 i 24,089
8,428 8,586
2,424 1 14,932
573
571
Jan.
Feb.
Mar. Apr.
9,989
7,198
2, 290
501
10,871
8,018
2,298
555
14,421
9,036
4,773
612
1,421
1,088
230
103
1,425
1,088
241
97
1,475
1,116
259
99
FINANCE—Continued
LIFE INSURANCE— Continued
Life Insurance Agency Management Association:!
Insurance written (new paid-for insurance):
Value, estimated total
mil $
Ordinary
do
Group and mass-marketed ordinary
do
Industrial.
do
Premiums collected:
Total life insurance premiums
do
Ordinary.
__
do
Group and mass-marketed ordinary
do
Industrial
._
_ _
do
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, U.S. (end of period) . mil. $
Net release from earmark!
do
Exports
thous. $
Imports
do
Production , world total
mil. $
South Africa
________
do
Canada
___
do
United States
do
Silver:
" " """
Exports
_
thous $
Imports.
do
Price at New York
dol. per fine oz
Production:
Canada
thous. fine oz
Mexico
do
United States
do
Currency in circulation (end of period) _
bil. $
Money supply and related data (avg. of dailyfig.):
Unadjusted for seasonal variation:
Total money supply
bil $
Currency outside banks
do
Demand deposits
do
Time deposits adjusted!
do
U.S. Government demand deposits
do
Adjusted for seasonal variation:
Currency outside banks.. __
_
do
Demand deposits
do
Time deposits adjusted^
do
Turnover of demand deposits except interbank and
U.S. Govt., annual rates, seas, adjusted:
Total (233 SMSA's)O__ratio of debits to deposits..
New York SMSA.
do
Total 232 SMSA's (except 1
N.Y.)
do
6 other leading SMS A'srf
do
226 other SMSA's.
do
121, 989 U41,799
87,332 93,488
27, 580 i 41, 257
7, 078
7,054
11, 992
8, 392
2,959
641
10, 715
7, 615
2,484
616
11, 925
8,280
3,002
643
11, 370
8,140
2,644
586
9,732
7,201
1,956
575
10, 626
7,838
2,222
566
10, 140
7,277
2,298
565
11, 683
8,428
2,650
605
1,459
1,114
244
101
1,330
1,013
218
99
1,475
1,104
267
105
1,360
1,040
225
95
1,399
1,053
241
104
1,406
1,051
257
98
1,313
988
231
93
1,443
1,107
232
105
13, 159
11,982 13, 107
-50
-86
12
457,333 1,005,199
285
42,004 32,547
1,494
2
1, 445. 0
1,080.8 1, 061. 6
89.5
114.6 ' 103. 7
9.1
63.1
13, 109
162
2,326
13, 109
3
63
2,239
13, 110
-5
490
2,530
89.1
8.9
91.2
8.9
89.1
9.1
88.9
8.4
90.5
8.3
89.9
8.0
84.1
8.6
90.0
8.2
82.0
8.7
90.3
7.7
90.0
7.7
91.8
23, 889
8,645
1.855
9,192
12, 436
2.180
16, 090
12, 063
2,660
1, 367
16,906
12,668
2,907
1,332
13, 108 1MOB
1
104
77
2,041 3,331
13,006 12,905
1
-8
73
226
8,219
1,771
1,372
1,040
235
96
1,721
1,157
328
235
12,908 11,982 11, 984
52
-32
-221
969 1,002,523 1,503
1,126
2,510 3,201
11, 882 10,484
-31
-234
949 500,800
1,839 1.2,596
10, 484
114,325
78,378
1.293
100,710
80,178
1. 550
10, 693
6,136
1.293
11,072
8,451
1.293
15,149
8,159
1.296
19,786
10,120
1.301
2,912
4,021
1.593
1,722
8,520
1.750
4,094
5,839
1.680
2,480
3,296
1.786
2,792
6,759
1.953
6,236
4,984
2.066
12, 993
10, 922
1.990
32,820
41 984
45,047
44.7
37,206
3,224
3,114
4,151
43.7
4,020
2,304
3,280
44.4
3,403
6,078
4,194
44.7
2,729
2,129
2,461
44.9
2,691
3,020
892
45.1
2,928
2,462
1,366
45.0
3,390
4,393
1,235
45.4
3, 134
4,027
644
46.5
2,864
3,398
30, 354
47.2
3,353
3,469
3,598
43.6
650
47.2
703
45.8
1,079
45.8
46.3
169.8
37.5
132.3
s 154. 0
4.9
176.4
39.4
137.0
173.2
5.0
171.9
38.5
133.4
166.7
4.9
173.6
38.7
134.9
168.8
4.8
171.1
38.9
132.2
170.8
6.5
174.3
39.3
135.1
173.0
3.9
175.8
39.6
136.2
175.1
5.6
175.9
39.6
136. 2
177.7
4.3
178.4
39.8
138.6
178.9
5.0
180.6
40.0
140.6
180.3
6.2
182.5
40.4
142.1
181.1
5.2
187.2
41.2
146.0
181.8
5.0
187.8
40.5
147.3
183.5
4.9
181.5
40.3
141.3
185.5
7.2
182.1
40.7
141.4
187.4
6.7
185.8
41.0
144.8
187. 6
4.2
173.1
38.9
134. 2
166.1
172.7
39.1
133.6
168.1
174i 5
39.2
135.3
170.0
176.2
39.3
136.8
172.4
177.9
39.5
138.4
174.6
179. 1
39.6
139.6
177. 2
179.2
39.8
139. 5
178.9
180.3
39.9
140.3
180.8
181.2
40.0
141.2
182.5
181.5
40.4
141.1
183.8
182.5
40.5
141.9
183.7
182.5
40.7
141. 8
185.0
183.4
41.1
142.3
186.6
184. 7
41.4
143. 3
186. 9
57.7
123.0
40.8
54.2
35.1
54.8"
115.2
39.2
52.0
33.9
56.5
120.0
40.1
53.4
34.4
56.8
119.8
40.7
55.5
34.5
59.0
128.5
41.1
56.6
34.6
57.4
120.6
40.8
55.4
35.1
58.3
125.5
40.8
54.6
35.1
58.4
130.2
41.2
55.7
34.8
58.5
122.1
41.1
54.6
35.3
60.2
128.5
41.6
55.6
36.0
59.8
129.2
42.1
56.9
36.1
59.3
128.2
41.6
56.5
35.7
59.7
126.7
^42.3
57.4
36.2
52.8
109.4
38.3
50.1
33.3
56.7
120.8
40.1
53.4
34.5
54.8
117.2
39.1
51.2
33.9
30,937
* 2, 102
702
29,008
2,130
540
6,748
451
105
7 596
506
124
6,718
584
140
7,946
589
171
345
Paper and allied products.
."do
911
Chemicals and allied products
do
3,474
Petroleum refining. __
do
5,055
Stone, clay, and glass products
do
799
Primary nonferrous metal
do
1,298
Primary iron and steeL _
do
1,487
Fabricated metal products (except ordnance,
, machinery, and transport, equip.)
mil. $__ 1,395
Machinery (except electrical)
do
3,058
Elec. machinery, equip. , and supplies
do
2,379
Transportation equipment (except motor
vehicles, etc.)
_
mil $
821
Motor vehicles and equipment
do
3, 053
All other manufacturing industries
do
44,058
Dividends paid (cash) , all industries
do
12, 958
Electric utilities, profits after taxes (Federal Reserve)..
mil. $
2, 764
333
796
3,261
5,497
672
1,061
1,165
*51
*191
786
1,341
67
325
296
82
205
849
1 344
194
311
296
102
190
767
1 335
216
192
227
98
210
859
1 477
195
233
346
1,316
2,893
2,297
321
674
527
368
840
564
305
687
540
322
692
666
809
2,356
3,884
13, 262
162
620
831
3,185
199
831
883
3 266
199
193
1 041
3,079
249
712
1,129
3,732
2,911
799
• 666
717
2.203
729
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade and SEC):
Net profit after taxes, all industries
mil. $
Food and kindred products..
do
Textile mill products
do
Lumber and wood products (except furniture)
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds, total. _ _ .
mil. $
45, 015
68,514
5,253 4,229 4,002
By type of security:
Bonds and notes, total
do
42, 501
5,110
3,991 3,844
65, 670
Corporate
"do """ 15,561 21,954 2,219
1, 778
1,361
Common stock.
do
119
1,939
94
111
1,959
Preferred stock
..
do
574
24
144
885
47
By type of issuer:
C orporate, total 9
do
18, 074
24,798 2,362 2,015 1,518
Manufacturing
do
7,070
1,283
11,058
1,153
598
Extractive (mining)
do
375
35
587
29
30
Public utility....;
do"""
3,665
510
401
4,935
426
Railroad
do
42
12
339
27
286
Communication
do
2,003
92
1,979
147
109
Financial and real estate
do
1,941
2.433
92
102
143
2
' Revised.
i Includes $8.3 bil. coverage on Feder al employees.
]Estimate d; exclud es
U.S.S.R., other Eastern European countries, China Mainland , and North Kbre a.
S E eginning June 1966, data exclude balances accumulated for paym<jnt of personal loan s (amouiiting to $1,140 million for week ending June 15).
« B eginning with the period iloted, d£ita
reflectfat* AnvlJAw -^-.{-.,3^ companies between Industrie s and are not strict ly comp?irable w ith
^classification of
fnnca
5,373
5,043
2,343
313
17
4,375
4,161
2,375
130
84
10,625
10,376
2,231
144
105
4,218
4,004
1,549
173
41
4,609
4,141
1,940
238
231
8,732
4,483 ' 4, 556 ' 8, 072
5,069
8,428
1,196
222
81
4,206 ••4,234 ' 7, 845
2,107 ' 1, 449 '1,382
235
'276
'169
42
'58
'46
4,628
1,359
295
145
2,385 r 1, 771 ' 1, 608 1,799
2,674 2,589 2,481 1,763 2,409
1,500
777
1,135
'570
1,334
'561
963
527
1,263
654
930
42
126
50
'49
40
163
25
16
16
65
456
282
'424
'562
410
477
476
536
269
647
13
16
47
9
0
33
35
24
20
7
86
70
148
'188
354
40
202
83
359
121
105
'64
'279
279
122
277
149
392
176
187
t Reivisions for months of 1966 \ be sh own late r.
nil
§ O r increas 3 in earmarked goId (-).
UTiim3 deposit 3 at all co mmercia 1 banks ()ther tha n those d ue to do mestic co mmercia 1 banks
and th e U.S. G ovt.
O Total SMSA's include ssome citi 3S and cc>unties n ot design ated as
SMSA S.
C? Includes Boston, Philade Iphia, C hicago, ]Detroit, San Fra ncisco-O akland,
9 Inchides data not sho\vn separ ately.
and Lc>s Angele s-Long IJeach.
SURVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
1967
Annual
May 1968
1968
1967
Apr.
Mar.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FINANCE—Continued
SECURITIES ISSUED— Continued
Securities and Exchange Commission— Continued
Estimated gross proceeds— Continued
By type of issuer— Continued
Noncorporate, total $ - - mil. $. . 26,941
TJ 8 OloverTiTTient
do
8,231
State and municipal
do... 11,089
New corporate security issues:
'Estimated net proceeds, total
do... 17,841
Proposed uses of proceeds:
New money, total..
do
15,806
Plant and equipment
do
12,430
Working capital.
do
3,376
Retirement of securities
do
241
Other purposes
. . do
1,795
State and municipal issues (Bond Buyer) :
Long-term
Short-term
do
do
43,716
19,431
14,288
2,891
459
1,437
2,213
393
1,129
2,483
438
1,209
24,409
2,334
1,985
22,230
16,154
6,076
312
1,867
2,178
1, 755
423
17
139
1,891
1,352
539
12
82
11,089
6,524
14,288
8,025
1,437
634
*609
'5,387
il,637
i 791
713
17,948 / 5,803
12,763
2,135
6,464
4,719
1,134
3,270
418
1,363
2,700
410
1,461
1,786
415
925
8,145
6,458
840
2,455
362
1,273
2,200
422
991
7,232
5,054
1,320
2,099 '2,785
481
371
1,162
1,093
1,493
2,631
2,543
2,440
1,733
2,367
1,470
2,344
' 1, 732 '1,585
1,765
1,418
1,082
336
19
56
2,363
1,832
531
20
248
2,179
1,531
647
89
275
2,184
1,717
467
34
222
1,581
1,080
501
10
142
2,120
1,459
662
79
168
1,305
914
391
3
163
2, 113 '1,588 ' 1, 447
1,379 ' 1, 202 ' 1, 136
'311
734
'386
'16
8
30
'121
'117
223
1,592
1,253
339
24
149
1,129
1,197
1,209
951
1,461
531
925
286
840
752
1,273
603
991
764
1,320
767
1,093
330
1,162
569
1,134 '1,363
563 '1,090
701
5,896
2,078
673
5, 966
2,220
686
6,195
2,231
698
6,636
2,341
732
6, 677
2,281
720
6,943
2,401
776
7,111
2,513
791
7,200
2,500
791
7,948
2,763
888
7,797
2,942
815
7,419
2,768
820
7,248
2,692
1,248
669
SECURITY MARKETS
Brokers' Balances
(N.Y.S.E. Members Carrying Margin Accounts)
Cash on hand and in banks _. _
mil $
Customers' debit balances (net)
do
Customers' free credit balances (net)
.do
Bonds
Prices:
Standard <fe Poor's Corporation:
Industrial, utility, and railroad (AAA issues):
Compositecf
dol per $100 bond
Domestic municipal (15 bonds)
do
U.S. Treasury bonds, taxablel
do
Sales:
Total, excl. TJ.S Government bonds (SEC):
All registered exchanges:
Market value
_
mil. $_.
Face value _ _
_
do
New York Stock Exchange:
Market value
do
Face value
do
86.1
102.6
81.8
100.5
85.6
105.8
85.4
104.9
83.4
101.1
81.7
100.2
81.1
99.3
80.3
99.6
80.0
98.0
78.5
95.8
76.8
95.2
75.9
93.6
77.2
95.5
77.5
94.8
76.9
92.7
76.2
94.7
78.63
76.55
80.96
80.24
77.48
76.37
76.39
75.38
75.04
73.01
70.53
71.22
73.09
73.30
70.98
72.06
4,261.12 6,087.43
3,740.48 5,393.60
478.39
394.94
381.00
333.15
534. 32
451. 62
539.46
464. 38
541.91
455.80
529.22
471.09
494.25
439. 68
634. 15
559. 18
567.12
536. 43
531. 62
519. 14
552.08
503.57
402.93
392.36
434.68
432.90
4400.86 5,428.00
3,589.62 4, 862. 48
451.87
374.71
349. 76
309.72
484. 92
413. 73
463.58
406.43
468.83
402.31
466.98
422.84
438.28
385. 75
553.63
494. 43
496.10
475.48
440. 43
446. 45
437. 51
422.35
339. 82
341. 27
356. 71
367.88
382.38
360.78
333. 25
268.61
317.43
New York Stock Exchange, exclusive of some
stopped sales, face value, total. .
mil $ 3,092.79 3,955.54 281.42 279. 94 329.41 326. 62 358.94 326.09 319.92 403. 06
Yields:
Domestic corporate (Moody's)
percent
5.43
25.82
6.00
5.75
5.42
6.14
5.56
5.34
5.91
5.86
By rating:
Aaa
_
do
5.13
25.51
5.65
5.44
5.82
5 11
5.24
5.13
5.62
5.58
Aa _
do
5.23
5.87
5.66
5.63
6.01
5.23
5.26
5.42
5.72
5.76
A
do
5.49
6.06
5.77
5.86
6.19
5.60
5.35
5.46
5.94
5.88
Baa
do
5.85
6.40
6.15
6.52
6.23
5.83
5.67
5.96
6.33
6.26
By group:
Industrials..
do
5.93
5.39
6.05
5.74
5.64
5.37
5.46
5.84
5.30
5.79
5.37
6.02
Public utilities
do
6.12
5.80
5.37
5.59
5.81
5.36
5.96
5.91
Railroads
do
5.51
6.03
6.24
5.80
25.89
5.62
5.51
5.37
5.94
5.88
Domestic municipal:
Bond Buyer (20 bonds)
do
3.54
4.19
4.06
4.27
3.96
3.69
3.83
3.96
4.06
3.91
3.60
Standard & Poor's Corp. (15 bonds)
do
4.15
4.31
3.99
3.82
3.98
3.66
3.92
4.03
4.05
4.45
4.99
U.S. Treasury bonds, taxable©
..—do
4.86
5.18
4.66
4.85
4.51
4.76
4.95
4.86
Stocks
Dividend rates, prices, yields, and earnings, common stocks (Moody's) :
Dividends per share, annual rate, composite
8.32
8.33
8.22
dollars __
8.19
8.20
8.23
8.25
8.26
8.21
8.21
Industrials.
_
do
9.17
8.95
9.00
9.18
8.96
8.95
9.17
9.03
8.96
8.96
Public utilities.
._ . do .
4.27
4.39
4.11
4.32
4.40
4.27
4.38
4.34
4.39
4.39
Railroads
d
o
4.63
4 63
4.65
4.63
4.63
4.58
4.45
4.62
4.65
4.65
N.Y. banks
^
do
5.28
5 28
5.29
5.48
5.48
5.28
5.06
5.35
5.30
5.29
Fire insurance companies
do.. _.
7.81
7.81
7.81
6.85
7.81
7.81
7.82
7.81
7.81
7.81
Price per share, end of mo., composite
Industrials
Public utilities
Railroads
do
do
do
do
242.02
278.90
106.81
93.52
351.55
6.36
26.51
6.45
6.40
6.42
6.53
6.07
6.23
6.43
6.72
26.19
6.35
6.58
6.93
6.17
6.29
6.48
6.84
6.10
6.27
6.41
6.80
6.11
6.28
6.43
6.85
6.21
6.38
6.57
6.97
6.28
6.39
6.42
6.39
6.57
26.63
6.34
6.47
6.65
6.31
6.36
6.65
6.33
6.39
6 67
6.42
6.54
6.97
4.42
4.36
4.44
4.49
4.16
4.34
4.44
4.39
4.54
4.56
4.44
4.41
5.44
5.36
5.18
5.16
5.39
5.28
8.28
8.92
4.41
4.55
5.48
8. 09
8.30
8.95
4.44
4.55
5.57
7.95
8.41
9.12
4.44
4.55
5.57
7.95
8.42
9.12
4.45
4.52
5.69
8.08
8.42
9.12
4.46
4.52
5.69
8.08
8.46
9.18
4.48
4.52
5.78
8.08
238.37
277.83
102.58
94.89
242. 22
282.15
100.73
97.92
252. 69
298.94
103. 04
105. 56
249.02
295.09
99.63
104. 99
257.40
307. 35
99.76
101. 22
251.90
302. 88
93.63
91.88
250. 32
300. 84
95. 92
90.80
256.30
309.19
98.19
90.86
247. 26
294. 18
97. 75
88.59
241. 14
286.99
97.15
85.80
242.77
290.96
92.66
86.75
262.85
316.20
92.93
94.62
Yields, composite
percent3.44
3.31
3.44
3.57
3.35
Industrials..
do
3.29
3.13
3.22
3.44
3.11
Public utilities.
do
4.00
3.92
4.21
3.99
4.26
Railroads
do
4.95
4.95
4.88
4.80
4.82
N.Y banks
_
do
3.84
3.83
3.96
4.04
3.87
3.31
Fire insurance companies
do
3.28
3.51
2.92
3.47
Earnings per share (indust., qtrly. at ann. rate;
pub util. and RR., for 12 mo. ending each qtr.) :
Industrials
dollars
16.78 ' 15. 76 14.70
Public utilities
____
do
6.30
6.37
'6.67
Railroads.
do
9.34
8.85
'Revised. 1 End of year. 2 Beginning Dec. 18,1967 Aaa railroad bonds not included.
9 Includes data not shown separately.
cfNumber of bonds represented fluctuates; the change in the number does not affect the
3.39
3.17
4.35
4.73
3.98
3.43
3.25
3.00
4.26
4.41
3.68
3.53
3.30
3.04
4.41
4.43
3.69
3.54
3.19
2.92
4.40
4.59
3.77
3.57
3.27
2.97
4.70
4.98
3.89
3.85
3.31
2.97
4.60
5.01
4.06
4.02
3.24
2.89
4.52
5.01
4.06
3.78
3.40
3.10
4.54
5.14
3.93
3.63
3.49
3.18
4.58
5.27
3.77
3.99
3.47
3.13
4.81
5.21
3.86
4.11
3.22
2.88
4.82
4.78
3.66
3.94
230.88
266.77
102. 90
92.65
246.54
290. 05
101. 87
95.91
251 52
293. 28
108. 90
93.60
16.07
6.42
8.30
'13.60
6.53
'18.65
'6 67
16.65
6.76
continuity of the series.
IPrices are derived from average yields on basis of an assumed 3 percent 20-year bond.
O For bonds due or callable in 10 years or more.
S1JKVEY OF CURJIENT BUSINESS
May 1968
1966
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1
1
1968
1967
1967
Mar.
Annual
S-21
Apr.
May
June
July
Aug.
Sept.
Oct.
Jan.
Feb.
Mar.
Apr.
Nov.
Dec.
5.79
5.95
5.70
5.65
5.80
5.86
303.88 309.78
865,43 887.20
123. 05 125. 19
230.74 233.20
312. 05
884.77
132. 48
233.76
209. 84
847. 20
128. 87
224.63
292. 86
834.76
123. 66
217.94
309. 31
893. 37
123.59
230.63
FINANCE—Continued
SECURITY MARKETS-Continued
Stocks— Continued
Dividend yields, preferred stocks, 10 high-gr^de
(Standard & Poor's Corp.)
_
percent-
5.41
5.59
327.23 329.62 330. 87
888.51 912. 46 923. 45
132. 72 132. 43 131. 33
267.65 262. 85 261. 79
321. 30
907. 54
126. 08
250. 55
4.97
5.34
5.04
5.03
5.17
5.30
308.70
873.60
136.56
227.35
314. 79
879. 12
132. 65
242. 38
307. 70
858. 11
135. 96
231.98
309.45
868. 66
139. 29
228. 77
315. 57
883.74
137. 15
238. 27
318. 12
872. 66
131. 92
253. 90
85.26
91. 93
89.42
90.96
92.59
91.43
93.01
94.49
95.81
95.66
92.66
95.30
95.04
90.75
89.09
95.67
91.08
84.86
74.10
68.21
46.34
99.18
96.96
79.18
68.10
46.72
95. 86
90.08
75.10
70.03
46.78
97.54
92.37
77.53
71.70
45.80
99.59
95.10
79.13
70.70
47.00
98.61
96.34
78.94
67.39
48.19
100. 38
98.35
81.27
67.77
49.91
102. 11
101. 01
83.88
68.03
50.43
103. 84
104.17
84.62
67.45
49. 27
104.16
106. 64
83.60
64.93
46.28
100.90
103. 58
80.47
63.48
42.95
103.91
106.41
81.92
64.61
43.46
103.11
102. 87
81.06
68.02
43.38
98.33
98.13
77.99
65.61
42.35
96.77
96.32
77.49
62.62
41. 68
104.42
104.08
84.79
63.66
44.79
Banks:
New York City (10 stocks)...
do____
Outside New York City (16 stocks). __.do_.__
33.32
63.80
36.40 - 35.32
66.00
66.46
36.01
66.56
35.43
65.81
35.35
63.97
36.76
65.95
37.89
67.34
38.39
67.99
37. 83
67. 4S,
35.65
64.60
35.52
64.83
37.18
67.64
38.46
70.66
38.38
70.59
40.35
73.18
Fire and casualty insurance (20 stocks)
64.55
62.29
65.86
64.86
62.60
61.34
62. 56
58.95
60.84
58. 65
55.84
56.99
59. 42
56. 61
53.31
53.61
46.15
46.18
50.26
45.41
44.45
50.77
51.97
53.51
45.43
49.82
49.02
49.02
55.19
47.88
48.17
49.92
50.19
54.60
48.07
48.37
51.00
51.78
55.76
47.20
48.17
50.54
51.55
54.97
45.95
47.51
51.67
53.13
57.30
44.87
49. 85
52.46
54.20
56.80
44.69
51.24
53.23
55.28
54.89
44.57
52.98
53.13
55.62
51.56
43. 33
52.69
51.40
53.79
48.43
42.39
50.19
53.06
55.80
48.73
42.75
52.37
53.24
55. 45
47.90
44.87
55.89
50.68
52.63
45.15
43.36
53.88
49.48
51.54
43.29
41.78
52.98
53.23
56 03
46.85
42 46
57 56
123, 034
3,188
161, 752
4,504
14, 515
418
11, 777
323
14, 411
397
13, 891
374
13 313
393
14,023
392
13,092
369
14, 499
409
14, 478
381
14, 919
412
17,662
518
12,008
321
12,632
336
98,565
2,205
125,329
2,886
11, 465
268
9,232
206
11, 335
257
10,801
243
10, 114
241
10,920
251
9,964
228
11, 006
249
11, 193
242
11, 186
262
12,914
298
8,909
205
9,672
221
1,899
2,530
225
188
219
213
217
208
205
225
212
230
263
174
193
296
482.54
10,939
605.82
11, 622
549. 49
11,073
572.64
11,114
546.65
11, 199
559. 50
11, 277
586.41
11, 326
581.99
11, 374
600.94
11, 433
583. 13
11, 484
586.17
11,568
605.82
11,622
582.94
11, 696
564.15
11, 796
568.51
11, 897
619 04
11,936
Prices:
Dow-Jones averages (65 stocks)
Industrial (30 stocks). _ _ _ _ _
Public utility (15 stocks)
Railroad (20 stocks)
Standard & Poor's Corporation :cf
Industrial, public utility, and railroad:
Combined index (500 stocks) .... 1941-43 = 10_ _
Industrial , total (425 stocks) 9 . . Capital goods (122 stocks)
Consumers' goods (181 stocks).
Public utility (55 stocks)
Railroad (20 stocks)
- - do. _ _ .
do
do
do
do
do
New York Stock Exchange common stock indexes:
Composite
_
12/31/65=50..
Industrial
__
. do
Transportation
_
do
Utility
._ _ _
do
Finance
_
do
Sales:
Total on all registered exchanges (SEC) :
Market value
mil $
Shares sold . __
millions
On New York Stock Exchange:
Market value
. _
mil. $
Shares sold (cleared or settled). .... millions
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
(sales effected) _ _
millions
Shares listed, N.Y. Stock Exchange, end of period:
Market value, all listed shares
bil $
Number of shares listed
millions
5.34
5.35
FOREIGN TRADE OF THE UNITED STATES
FOREIGN TRADE
Value
Exports (mdse.), incl. reexports, total
Excl. Dept. of Defense shipments
Seasonally adjusted
mil. $
do
.
2,831.9 2,705.4 2,725.5 2,667.2 2,418.8 2,486.4 2,549.7 2,485.2 2,797.0 2,872.0 2,726.8 2, 726. 0 2,673.8
2,796.8 2,666.1 2,683.2 2,617.9 2,376.4 2,395.4 2,504.6 2,440.0 2,760.8 2,812.9 2,674.0 2, 666. 7 2,639.1
2,551.4
do
By geographic regions:
Africa.
_
Asia
Australia and Oceania
Europe
2,653.8 2,546.9 2,576.5 2,584.1 2,547.9 2,642.7 2,392.3 2,692.2 2,603.9 2,784.7 2, 773. 1 2,454.7
_.do.._. 1,348.5 1, 182. 3 113.9
do
6,733.3 7, 147. 2 ••648.9
805.3 1,016.1
82.8
do
do
10,003.0 10,294.1 ' 936. 4
Northern North America
Southern North America
South America
_ _
By leading countries:
Africa:
United Arab Republic (Egypt)
Republic of South Africa..
Asia; Australia and Oceania:
Australia, including New Guinea
India
Pakistan.. _
_.
_
_
Malaysia.
_
_ _ ____
115.3
608.6
76.7
892.8
118.9
582.2
78.4
877.8
114. 0
602.9
72.5
854.4
86.0
561.7
77.9
792.0
89.8
584.1
73.3
811.5
90.3
594.1
74.5
811.6
70.3
570.4
82.9
789.8
88.6
617.4
79.5
961.3
88.4
642.6
164.1
943.1
96.6
676.2
92.1
870.8
107.1
639.9
88.6
880.1
87.7
613.5
81.3
855.4
6,661.2 7, 174. 1 '636.9
2,268.3 2,365.0 205.1
2,499.9 2,354.9
207.9
625.9
193.8
203.7
684.6
200.8
188.2
641.5
203.5
191.8
531.2
190.1
192.1
533.0
191.7
204.3
590.9
198.3
190.0
600.3
201.9
169.6
634.3
213. 4
202.5
618.1
197.7
218.1
615. 4
186.0
189.6
600.7
213.4
196.2
630.5
208.8
196.6
do
do
do___
do...
do
189.1
401.0
66.1
426. 4
7.5
43.2
11.3
40.7
10.8
32.0
4.9
36.0
1.8
35.4
3.4
38.2
5.9
29.2
1.5
25.7
1.1
32.1
2.9
29.0
2.5
35.3
1.0
39.3
2.9
26.6
do___
do
do
do
654.2
929.3
238.7
45.6
891.3
955.4
346.9
49.2
68.0
82.8
44.7
4.2
68.2
80.7
25.2
3.5
65.5
84.5
14.3
3.1
64.1
83.7
25.0
3.2
66.5
69.4
23.3
4.0
63.6
94.5
14.4
3.2
66.9
65.7
47.6
3.3
73.9
74.7
29.7
4.4
63.4
75.9
24.6
5.2
157.9
58.5
34.6
6.7
73.6
94.6
18.4
5.9
73.4
81.9
27.9
5.5
72.4
80.5
27.0
5.3
do
do
do
Indonesia....
Philippines. _ _ _
Japan
Europe:
France .
East Germany
West Germany.
30,319.6 31,533.7
29,379.2 30,941.9
_ _
Italy
Unjon of Soviet Socialist Republics
United Kingdom
67.6
347.8
2,363.6
68.4
10.3
35.9
428.2
2,695.8 '227.9
5.3
36.8
225.9
4.6
35.7
221.5
2.3
40.3
210.6
3.7
41.9
220.1
3.2
32.6
217.2
3.4
34.1
229.5
5.8
37.6
216.7
11.1
34.7
258.5
7.4
33.8
244.1
11.1
45.8
246.1
5.0
36.1
256.8
14.0
32.1
230.3
do
do
do
1,007.0
25.2
1,673.6
1,025.1
26.3
1,076.3
108.6
4.7
179.0
92.5
5.9
163.1
95.5
3.5
151.3.
101. 2
2.1
121.1
73.5
1.5
131.1
67.9
.6
152.2
71.6
.6
121.4
78.3
.3
129.4
78.6
2.5
161.8
86.0
1.1
136.3
102.3
2.5
117.1
87.0
2.7
124.7
84.4
1.1
130.8
do
do
do
908.8
41.7
1,737.1
972.9
60.2
1,960.3
88.7
7.1
165.1
77.7
3.4
173.6
82.4
5.2
163.5
76.7
81.1
2.7
6.0
162.2 - 141.0
69.1
2.3
167.0
73.2
5.8
192.7
72.2
6.1
147.7
103.0
3.8
165.5
93.4
4.5
193.6
95.1
5.9
167.4
74.7
2.9
179.3
93.6
6.2
151.5
641. 4
531.1
532.9
590.8 600.2
9 Includes dat EI not sho wn sepai^ately.
634.3
618.1
615.4
600.7
629.5
North and South America:
Canada.
...
rail
$ 6,660.8 7, 172. 9 '636.8 625.8
684.5
Revised.
cfNumber of stocks represents nu mber currently used; the change in
number does not affect continuity of the series.
r
SURVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
1968
1967
1 1967
Mar.
Annual
May 1968
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
329.9
18.6
46.5
18.3
21.9
94.7
45.8
Feb.
Mar.
Apr.
FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Value— Continued
Exports (mdse.), incl. reexports— Continued
By leading countries— Continued
North and South America— Continued
Latin American Republics, total 9
mil. $._ 4, 230. 9
244.1
Argentina
do
Brazil
do
575.0
Chile
—do....
256. 0
Colombia
do
287.1
Mexico
do
1, 180. 0
Venezuela
do
598.0
Exports of U.S. merchandise, total
Excluding military grant-aid
Agricultural products, total
Nonagricultural products, total
do
do
do__do.
By commodity groups and principal commodities:
Food and live animals 9
do
Meats and preparations (incl. poultry)__do
Beverages and tobacco
do
Crude materials, inedible, exc. fuels 9
do
Cotton, raw, excl. linters and waste.. 1 -do
Soybeans, exc. canned or prepared
do
Metal ores, concentrates, and scrap
do
Mineral fuels, lubricants, etc. 9
Coal and related products
Petroleum and products
___do _ _
do
do _ .
Animal and vegetable oils, fats, waxes
do
Chemicals
do
Manufactured goods 9
Textiles
Iron and steel
Nonferrous base metals
-do
do
do
do
29,883.9
28,943.5
6,874.2
23,009.8
4,562. 4
158.9
3,189.6
623.7
3,070. 4
432.2
759.9
421.6
4,126.2
230.3
547.9
248.1
218. 0
1,223.3
587.5
360.7
19.8
53.5
23.6
16.8
105.4
44.4
351.3
17.3
40.9
21.2
13.4
101.2
55.6
4, 064. 1 '358.4
151.3
12.9
2,681.4 ' 242. 4
648.7
339.2
16.1
50.6
19.9
15.2
99.2
51.0
348.2
20.9
54.3
20.6
14.6
99.1
49.1
975.8 1, 104. 4
501.3
493.0
538.9
434.1
327.8
11.6
212.1
333.3
13.3
208.9
335.9
12.4
214.0
322.4
10.8
214.8
316.2
12.6
210.8
320.4
16.1
33.5
19.6
19.2
106.3
47.7
358.6
20.2
56.5
22.8
15.3
109.0
50.5
362.9
18.5
58.6
24.0
25.2
99.8
50.3
,518.2 ,456.0
, 473. 1 ,410.8
490.9
531.7
,027.3 ,924.2
,765.8
2,729.6
667.7
,098.0
,841.0
,781.9
563.6
,277.4
410.1
14.8
288.8
351.1
11.8
237.0
335.6
15.7
44.0
18.8
17.1
101.2
52.5
334.9
12.4
222.4
332.9
14.9
209.7
359.4
16.1
48.4
21.1
23.3
118.8
49.3
358.4
14.6
41.2
32.2
29.1
120.5
47.1
,697.9 2,695.1 ,635.5
,645.1 ,635.8 ,600.9
544.5
547. 5
545.5
,152.4 , 147. 7 ,091.0
353.4
11.8
246.6
354.0
11.7
246.2
353.8
10.1
249.2
59.2
54.2
46.4
40.4
50.2
69.5
56.8
70.5
73.7
44.5
52.9
36.9
263.0
34.2
65.3
41.7
291.7
48.7
61.1
47.3
275.3
35.7
58.1
44.6
236.1
27.2
49.6
46.2
240.6
27.3
47.4
41.4
228.4
30.6
29.3
50.8
290.2
30.9
83.4
52.6
328.3
32.7
112.8
46.6
276.8
38.3
74.3
36.6
284.9
60.9
61.3
35.6
290.5
52.7
53.2
47.4
308.5
49.3
68.6
54.3
76.4
33.3
38.0
84.4
42.0
38.6
93.3
48.3
40.1
94.5
48.6
40.4
113.7
38.5
70.9
120.7
46.0
69.6
109.1
40.1
61.9
92.8
46.8
41.7
96.1
50.1
41.2
76.0
39.1
31.3
76.5
35.5
30.4
70.5
30.9
33.6
79.0
33.5
39.9
24.3
47.6
3,280.1 '287.8
463.8
47.9
771.6
54.2
519.6
47.3
356.8
338.1
'33.3
29.2
32.1
38.9
29.9
22.7
26.2
24.7
27.9
19.8
15.5
26.2
2,674. 5
2,802.5
242.5
234.2
249.0
240.2
220.7
232.7
235.3
218.6
244.9
242.6
235.9
238.4
257.8
3,433. 5 3,390.1 ' 325. 3
530.9
554.2
47.4
561.2
557.3
54.5
516.8
582.4
61.5
309.3
44.9
50.2
55.9
293.7
45.6
48.1
45.7
298.6
42.0
45.6
61.0
256.8
37.2
42.1
46.2
258.5
41.1
40.6
30.6
267.7
43.8
41.3
32.2
256.4
44.8
40.0
27.7
270.7
45.3
42.6
29.2
277.6
48.9
46.0
30.1
262.0
40.4
45.4
29.9
264.9
43.2
40.6
29.2
264.5
39.5
39.6
32.5
, 115. 5 1, 088. 1
Machinery, total 9
, -do
Agricultural
•_—
do
Metalworking
_do
Construction, excav. and mining
do
Electrical
do
7,445.8 8,047.8
614.7
628.3
338.8
337.9
969.1 1,038.0
2,096.9
1,900.1
Transport equipment, total
Motor vehicles and parts
3,709.7 4,525.2
2,386.3 2,733.9
General imports, total
Seasonally adjusted
By geographic regions:
Africa
Asia
_ __
Australia and Oceania
Europe
346.4
22.6
35.4
19.0
22.3
105.5
45.7
1, 147. 2 2,797.1 2,669.8 2,692.5 2,635.4 2,389.7 2,448.4
0,555.4 2,762.0 2,630.5 2,650.2 2,586.1 2,347.3 2,357.5
519.6
472.3 469.6
6,383.3 ' 552. 0 524.2 543.9
4,763.9 2,245.1 ,156.7 , 154. 0 ,129.2 ,929.6 i ,980.3
Machinery and transport equipment, total
mil. $— 11,155.5 12,573.0 '1,155.8 1, 116. 9
do
do
336.5
18.3
38.3
20.9
16.7
103.6
48.6
, 160. 6 1,163.1 1,074.4
954.6
908.8 1,017.7
959.9 1,080.8
94.9 R
741.9
69.6
30.0
96.4
188.6
726.3
64.1
32.9
95.8
185.6
740.0
71.9
28.9
97.3
182.1
682.7
54.0
31.5
82.9
183. 9
637.0
50.3
31.3
84.7
164.8
597.8
44.6
19.6
80.3
161.0
630.9
37.4
22.8
85.4
168.1
618.4
35.8
29.6
78.0
169.9
664.2
35.4
26.2
77.6
176.5
717.7
40.3
31.7
91.5
188.1
675.3
49.8
30.9
77.3
182.2
679.0
53.0
26.9
82.2
173.5
669.2
47.6
25.5
80.3
178.7
415.3
254.1
390.6
241.0
375.4
243.5
405.5
235.2
317.5
179.1
311.0
186.2
386.8
222.3
341.6
221.3
416.6
252.0
524.9
281.1
485.2
278.3
484.1
259.0
405.2
249.1
do ___ 25,542.2 26,815.6 2,354.8 2,090.9 2,222.0 2,269.8 2,126.9 2, 165. 5 2,111.8 2, 342.2 2,435.4 2, 431. 1 2, 735. 2 2,448.1 2, 558. 2
2,202.9 2,226.0 2,139.9 2,227.3 2,208.0 2,125.1 2,208.5 2,201.5 2,375.7 2,524.8 2,615.4 2,601.9 2,612.4
do
905.4 '95.4
978.8
5,276.4 5,352.2 ' 462. 5
581.3 ••45.1
593.5
7,857.2 8,232.2 '729.6
78.4
421.4
46.7
608.5
76.9
441.5
33.4
661.5
68.5
439.8
57.6
692.1
57.4
436.9
51.9
661.7
54.5
488.9
56.5
630.9
78.3
438.7
45.3
617.6
74.1
472.9
46.6
723.4
62.1
491.8
57.5
797.4
80.5
438.0
59.8
779.3
101.6
504.6
44.4
889.7
96.2
422,8
49.9
818.0
96.5
484.4
54.0
794.1
6, 131. 4 7,105.0
1, 912. 1 1, 968. 2
2,785.3 2,663.4
597.8
200.9
222.8
544.4
176.4
214.9
629.0
169.7
209.8
643.8
173.6
201.5
563.5
136.1
218.9
578.9
146.8
207.8
573.3
134.1
223.5
637.2
150.1
237.0
644.0
161.3
220.8
668.3
176.0
228.7
732.2
206.5
255.5
634.4
176.2
250.3
697.9
197.7
233.4
17.6
249. 0
14.9
227.0
.9
21.9
.2
19.2
4.9
20.2
3.8
15.9
.2
11.5
.6
14.4
.1
23.9
.7
21.2
1.2
13.2
1.0
23.1
3.7
24.6
.7
17.3
1.6
26.9
398.6
327.0
67.8
176.7
179.0
397.6
2,962.6
411.5
297.6
54.8
195.6
181.J8
380. 5
2,998.7
'27.5
29.4
6.4
18.8
17.5
36.3
' 250. 7
35.1
23.4
4.1
16.1
13.7
34.3
228.7
20.3
23.9
3.6
17.0
14.3
20.7
248.7
43.6
22.4
3.4
12.0
12.7
36.1
251.6
32.8
21.0
2.8
10.0
16.0
36.0
251.2
34.8
29.0
4.2
16.4
18.5
41.2
269.8
31.0
20.5
4.5
18.8
14.5
29.3
251.6
32.4
26.1
2.9
17.5
15.2
28.6
280.2
48.3
27.2
3.9
21.8
14.7
23.6
294.6
46.5
25.0
6.7
18.7
17.1
42.7
221.3
31.2
28.4
5.0
21.0
12.6
26.3
297. 6
38.7
23.1
4.3
19.0
11.8
25.6
230.4
37.2
24.7
4.3
18.0
12.7
27.6
293.0
697. 9
8.2
1, 795. 6
743.0
49.4
1, 786. 1
689.8
5.6
1,955.4
855.6
41.0
1,709.8
57.9
.3
160.3
'77.4
6.0
147.1
52.8
.2
131.7
66.1
2.4
123.5
54.5
.3
142.9
69.4
4.5
154.9
60.2
.3
166.1
70.4
2.5
139.3
60.7
.4
166.1
71.0
1.7
131.3
62.5
•j
77.3
3.8
136.4
46.1
.3
156.0
59.2
3.2
130.5
58.2
.5
182.5
79.2
2.9
137.4
67.5
.3
205.9
82.9
2.7
158.6
61.7
.3
186.8
83.4
2.9
170.0
71.9
.5
231.5
85.7
9.2
165.2
69.1
.4
217.3
81.4
4.7
149.5
65.7
.2
197.8
83.8
6.8
146.9
6, 124. 9
7, 099. 3
597.5
544.3
628.5
643.4
562.5
578.2
572.0
637.0
643.5
668.0
732.1
634.1
697.4
Latin American Republics total 9
do
3, 969. 9
Argentina
do __
148.8
Brazil
.
do
599.7
Chile____._
_.
do229.1
Colombia
do
244. 8
Mexico
_
do
750.2
Venezuela
do . 1, 002. 4
' Revised.
9 Includes data not shown separately.
3,853.2
140.3
559.0
175. 2
240.4
748.9
981.6
344.6
13.5
43.2
11.4
18.9
70.5
85.9
331.7
9.6
38.4
15.5
19.7
71.7
90.2
317.8
11.2
37.9
18.6
19.1
64.3
78.6
304.9
10.6
41.0
16.2
23.0
63.3
66.1
304.4
10.0
54.4
11.8
22.0
50.7
79.7
296.8
11.2
54.4
9.4
18. 5
55.3
70.1
298.6
12.3
53.1
17.9
19.1
49.2
73.2
317.1
13.6
60.3
9.5
17.2
57.6
86.0
319.8
12.3
57.1
16.0
18.8
64.8
68.8
331.6
10.8
30.7
8.4
20.1
65.9
100.1
379.7
15.9
48.9
15.7
26.3
72.2
97.3
358.6
15.3
64.1
15.9
21.3
73.8
86.5
358.8
15.6
43.1 :::
18.7
17.2
81.2
95.8
._ .
do
_ do _
do
do
Northern North America
do
Southern North America
do
South America
do
By leading countries:
Africa:
United Arab Republic (Egypt) __
do
Republic of South Africa
do
Asia; Australia and Oceania:
Australia, including New Guinea
do
India
do
Pakistan...
do
Malaysia
do.__
Indonesia
do_.
Philippines
do
Japan
do
Europe:
France
doEast Germany
do___
West Germany
__ _ _ _ do _
Italy
...doUnion of Soviet Socialist Republics
do.__
United Kingdom
do
North and South America:
Canada
do
142! o
SURVEY OF CUKRENT BUSINESS
May 1968
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
1968
1967
1967
Annual
S-23
Mar.
Apr.
May
June
July
Aug.
Oct.
Sept.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Value— Continued
General imports— Continued
By commodity groups and principal commodities:
Agricultural products, total
mil. $ 4, 530. 5 4,472.1 431.5 375.7 336.1 358.4 344 5 357.8 329.9 369.1 378.5 410.8 430.8 415.2 379.0
21, Oil. 7 22, 343. 6 1,923.3 1, 715. 4 J , 886. 3 1, 919. 0 1, 782 8 1, 807. 7 1, 781 .6 1, 973. 1 2, 057. 0 2, 020. 2 2, 304. 4 2, 032. 9 2, 179. 3
Nonagricultural products, total
_ do
3, 947. 5
Food and live animals 9
do
122.2
Cocoa or cacao beans..
._ __ do
1,067.3
Coffee
do
599.5
Meats a n d preparations _ _ _ _ _
d o __
501.2
Sugar
do
Beverages and tobacco
do __
4, 003. 1
147.2
962.7
645.0
588.4
369.0
20.8
93.8
51.4
46.2
698.1
63.6
62.4
55.5
51.4
38.3
39.9
51.8
69.8
73.8
81.7
74. 2
64.2
61.8
2, 964. 7 r 254. 3
973. 9
62.8
419.3
39.8
305.6 r31. 7
174.5
21.2
226.3
62.7
32.4
25.2
13.6
250.7
92.6
35 0
23.5
14.3
282.2
117.0
35 8
24.9
9.6
224 0
79 7
30 7
23 0
9.0
276.5
98.1
35 5
23.6
15.8
234.3
71.2
32 5
23 7
12.7
248.9
88.8
34 8
20.8
13.2
256.4
86.1
38 3
26 2
17.1
254.4
86.0
33 7
28.5
16.6
254.7
70.1
35.3
32.9
16.8
225.3
53.7
35.7
31.6
14.0
257.2
63.2
36 0
30 1
13.3
211.8
197.2
193.8
179.1
194.7
181.1
176 9
163.7
165 3
153.5
158.3
147.4
169.9
154.3
185.4
174.4
167.8
152.6
212 5
199.8
237 5
219.6
204.1
187.6
220.3
204.4
641.7
Crude materials, inedible, exc. fuels 9
Metal ores
Paper base stocks
Textile
fibers
Rubber
do
_ do
do
do
do _
3, 265. 5
1,019.8
449.3
436.3
180.9
Mineral fuels, lubricants, etc
Petroleum and products
do
_ do _
2, 262. 0 2, 250. 1
2, 127. 1 2, 088. 1
Animal and vegetable oils and fats.
Chemicals _ _
_ __
do
-do
Manufactured goods 9
Iron and steel
Newsprint
Nonferrous metals
Textiles _
do
do
_ do _
do
do
322.6
11.7
76.9
44.3
54.4
296.2
5.5
77 4
43.1
37.4
337 2
9.9
75.4
51.5
59.7
327.6
8.8
80 5
59 6
63.8
347.0
6.7
90. 6
61.4
42.3
310.3
4.7
71.8
57.7
56.0
331.7
4.8
83.0
61.1
56.3
335.0
9.5
82 2
54.9
37.3
357.0
14.4
63.9
58.2
64.3
366.5
21.0
100.1
57.2
25.2
356.9
13.9
110.5
52.9
35.2
333.4
4.3
78.4
51.4
48.4
146.2
955.3
122.4
963.1
11.3
90.2
8.0
83.7
8.2
85.1
62
76.1
72
70.7
91
82.9
89
69.6
10.2
73.1
12 8
87.8
11 4
82.0
13.8
91 5
14.7
86 8
9.2
96.9
6, 352. 6
1,305.0
889.5
1, 551. 8
908.5
6, 386. 7
1, 372. 8
863.7
1, 562. 3
811.9
531.9
114.4
71.4
129.7
76.7
490.8
105.6
68.9
122.3
69.8
551.7
122.4
79,3
127.1
69.8
527.5
114.2
77.8
124.8
61.3
493 2
110 8
69 9
105 0
60 4
513 2
116.9
70.8
100.9
69.3
536 1
106.7
68.5
139 8
60.5
549.8
115. 4
76.7
137.1
65.7
628 0
145.6
71.6
167 6
70 8
570 0
121.0
71.3
155 6
66 6
681 5
128. 4
72.0
224 6
86 2
610 0
123.8
61.1
198 7
70 2
686.6
145 6
70 9
220 1
74 5
Machinery and transport equipment. _ __do_ __ 4,822.8
5, 791. 2
537.2
430.4
497.1
515.8
473.6
418.5
413.1
505.3
518.6
562.6
671 4
586.2
577.4
do
_ _ do _
do
2, 612. 9
135.3
1,010.5
3,028.8
203.4
1, 139. 8
286.1
19.8
103.7
234.1
17.5
80.7
254.4
16.2
86.0
249.8
17.7
87.5
251.6
15.9
89 1
258.9
18.0
104.2
224.0
16.0
94 1
253.8
17.1
107.3
275. 6
17.6
118 8
266.0
17.0
95 1
305 3
17.8
101 7
263.1
16.1
90 0
267 2
15 4
99 9
Transport equipment
_ do _
Automobiles and parts
do
Indexes §
Exports (U.S. mdse., excl. military grant-aid):
Quantity
1957-59=100
Value
do
Unit value
do
General imports:
Quantity
do
Value
_
do
Unit value
do
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports) :
Shipping weight
thous. sh. tons
Value
mil $
General imports:
Shipping weight.
thous. sh. tons
Value..
._
mil. $
2,209.8
1, 617. 7
2,762.4
2,259.4
251.1
196.4
196.2
151.1
242.8
192.8
266.1
218.2
222.0
179.6
159.6
115.2
189.1
157.7
251.5
219.8
242.9
211.7
296.6
257.1
366.1
322.3
323.1
273.9
310.2
256.5
16, 827 18,364 15,602 •"14 280
1 454 1 696 1 606 1 520
14, 114
1 547
Machinery, total 9 _ _
Metalworking
Electrical. .
158
168
106
179
192
108
191
203
106
180
182
101
188
188
100
189
188
99
„
185, 978
18, 520
187,973
18 642
13, 705
1,653
14,948
1,601
16, 058
1,607
16, 570
1,572
17, 216
1,500
16, 892 16,368
1 450 1 507
266, 074
17,319
254, 599
17, 415
20, 764
1,540
20, 132
1,348
22, 646
1,426
22, 810
1,484
19, 429
1,396
21, 092
1 450
18, 996 22,686 20,861
1 352 1 487 1 567
23, 312 22 856
1 539 1 740
19, 597
1 571
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers
Scheduled domestic trunk carriers:
Financial operations (qtrly. total):
Operating revenues, total 9
mil. $
Transport, total 9
do
Passenger
do
Property
do
U.S. mail (excl. subsidy)
do
Operating expenses (incl. depreciation) do
Net income (after taxes)
do
Operating results:
Miles flown (revenue)
mil
Express and freight ton-miles flown do
Mail ton-miles
flown
do
Passengers originated (revenue) _ .
do
Passenger-miles flown (revenue)
bil
Express Operations (qtrly.)
Transportation revenues
mil. $
Express privilege payments
do
Local Transit Lines
Fares, average cash rate
__
Passengers carried (revenue)
cents
mil
1,030
1,020
904
62
24
951
39
3,707
3,672
3,261
242
91
3,250
240
1 010 9
1, 081. 7
282.4
81.1
57.1
1 274.5
1, 285. 9
393.4
99.3
71.3
430.8
111.7
423 1
103.6
21.9
6,671
r
22.6
6 616
102.6
105.8
29.9
8.4
5.9
100.1
108.8
28.2
8.0
5.5
105 2
114.4
29.4
7.9
54
101.2
24.0
22.2
592
22.2
'562
22.3
'592
Motor Carriers (Intercity)
Carriers of property, class I (qtrly. total) :
4
Number of reporting carriers
1, 148
1, 233
Operating revenues, total
mil $
7,849
1,899
Expenses, total
do
1 851
7 457
Freight carried (revenue)
mil tons
462
116
2
'Revised,
* Preliminary.
1 As compiled by Air Transport Assn. of America.
Excludes excess baggage revenues.
» For the 1st quarter 1967, payments of $2.6 mil. were
deferred until 2d quarter 1967; for the 3d quarter 1967, payments of $1.4 mil. were deferred
105 4
117.4
28.9
9.2
67
22.4
553
1,188
* 1,2056
1
68
120
1
1,040
194
110.5
100.3
27.8
8.8
6.8
113.1
113.8
31.8
9.7
7.4
108 8
29 0
3
r
1
1,122
1,112
987
72
26
990
77
109 4
113.4
33.5
8.3
6.0
114 1
114.9
38.8
8.3
5.8
109 9
110.2
40.3
8.0
5.5
104.3
'23.7
22.8
'492
23.0
23.1
544
r
117 5
114.3
55.4
8.6
6.4
118.6
104.0
41.0
8.4
6.2
108.8
26.9
23.1
578
r
23.1
559
r
23.2
546
r
23.3
561
23.3
540
23.4
568
1,213
1 226
2,094
1,983
1 992
1 917
126
120
until the 4th quarter 1967. 4 Number of carriers filing complete reports for the year.
9 Includes data not shown separately.
§ Publication of data beyond 2d quarter 1967 withheld pending revision of comparable
back data.
SURVEY OF CURRENT BUSINESS
S-24
1966
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
| 1967
1968
1967
Mar.
Annual
May 1968
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dee.
Jan.
Feb.
Mar.
Apr.
TRANSPORTATION AND COMMUNICATION—Continued
TRANSPORTATION-Continued
Motor Carriers (Intercity) — Continued
Freight carried, volume indexes, class I and II
(ATA):
Common and contract carriers of property
(qtrly.) . ..average same period. 1957-59=100
Common carriers of general freight, seas. adj.
1957-59—100
Carriers of passengers, class I (qtrly.):
Number of reporting carriers
_ _
Operating revenues, total
mil. $
Expenses, total
do
Passengers carried (revenue)
mil
161 2
160 2
155 8
156 0
147 7
150 2
134.3
141 6
147 3
143 7
148 6
145 5
162
137.8
133.3
52.5
1156
641.0
545.8
223. 2
r
!54.4
156 8
154 0
162
162.8
145 3
55 8
146 4
150 7
154.3
162.8
162 7
161
203.7
161 9
62.2
Class I Railroads
Financial operations (qtrly.):
Operating revenues, total 9
mil $
Freight
do
Passenger. .
do
Operating expenses. .
do
Tax accruals and rents.
do
Net railway opprat.ing income
do
Net income (after taxes)
do
Operating results:
Ton-miles of freight (net), revenue and nonrevenue (qtrly )
bil
Revenue ton-miles
do
Revenue per ton-mile (Qtrly avg )
cents
Passengers (revenue) carried 1 mile (qtrly ) mil
Travel
Hotels:
Average sale per occupied room
dollars
Restaurant sales index same mo 1951 ~ 100
Foreign travel:
TJ S citizens' Arrivals
• thous
Departures
do
Aliens* Arrivals
do
Departures
do
Passports issued and renewed
do
National parks visits
do
Pullman Co. (qtrly.) :
Pftssenffw-miles (revenue)
mil
Passenger revenue*'
rnil $
COMMUNICATION (QTRLY.)
Telephone carriers:
Operating revenues 9
mil $
Station revenues
do
Tolls mps^ftge
do
Operating expense (excluding taxes)
do
Net operating income (after taxes)
do
Phones in service end of period
mil
Telegraph carriers:
Domestic:
Operating revenues
mil $
Operating expenses
do
Net operating revenues (before income taxes)
mil $
International:
Operating revenues
do
Operating expenses
do
Net operating revenues (before income taxes)
mil $
r
!0 661
^,286
544
'8, 122
r
l, 490
r
l 048
902
10 366
9 130
485
8 203
1 485
677
2,536
2,226
117
2,027
364
145
121
2 628
2 312
121
2,069
380
179
143
2 529
2 217
131
2,038
363
128
78
2,673
2,375
116
2,069
378
226
750.5
738 3
1 257
17 095
731 6
719 4
1 269
15 201
180.0
177.2
1.256
3,567
186.8
184.0
1 257
3,793
179.1
174.9
1.268
4,274
185.7
182.6
1.301
3,566
251.4
2
10 03
62
115
•I A KQ
At
9 79
64
122
10 98
67
123
10 41
64
128
11 06
63
123
9 93
55
109
11.12
63
112
10 97
64
120
11.40
68
112
11.24
59
110
9.91
48
119
10.73
56
103
10.83
61
116
10.48
64
129
3 881
3*759
2 413
2 040
1,548
38, 490
4 387
4 338
2 773
2,358
1,686
39,538
322
325
191
154
188
1,380
308
328
206
157
197
1,711
352
365
223
190
224
2,417
402
537
236
217
219
5,674
455
565
319
247
165
8,814
656
475
316
291
144
8,595
434
365
306
243
100
3,892
360
296
248
226
83
2,725
292
249
197
172
79
1,534
278
298
196
204
75
922
320
322
206
154
128
832
143
1,082
176
1,366
1 969
33 80
1,434
24.57
403
6.97
358
6.11
385
6.47
288
5.02
12,904
6,699
4,761
7,713
2,317
86.0
13,846
7,090
5,170
8,319
2,488
90.2
3,356
1,732
1,245
2,040
584
87.0
3,445
1,764
1,291
2,067
618
87.8
3,477
1,773
1,303
2,053
643
89.0
3,568
1,822
1,332
2,153
642
90.2
319 3
275.5
335. 0
291.9
81.5
71.8
85.3
73.4
83.5
74.0
84. 6
72.6
24 9
24.2
4.3
7.0
4.6
8.3
121.4
90 4
132.3
101 4
31.2
23.9
33.3
25.4
34.8
27.2
27 1
26 2
63
33.1
24.8
7i
68
6.0
54.3
23
71. 6
257.7
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:
Acetylene
mil cu ft
Ammonia synthetic anhydrous thous sh tons
Carbon dioxide liquid gas and solid
do
Chlorine, gas (100% 612)
do
Hydrochloric acid (100% HC1)
do
Nitric acid (100% HNOs)
do
Oxygen (high purity)
mil cu ft
Phosphoric acid (100% P2Oj)
thous sh tons
Sodium carbonate (soda ash), synthetic (58%
Na^O)
thous sh tons
Sodium bichromate and chromate
do
Sodium hydroxide (100% NaOH)
do
Sodium silicate anhydrous
thous sh tons
Sodium sulfate anhydrous
thous sh tons
Sulfuric acid (100% HsSOi)
do
T
2
16 598
10 622 4
1 089 0
7,205 2
1, 519 4
5 514 4
212 751
4 548 6
r 414 570
1 225 1 280 1 220 1 069
11 869 6 1 032 2 991 4 1 0728 1 0020
112 9
92 9
103 6
93.9
1172 8
r 7 658 o
624.1
646 7
613 0
648.1
r
134.2
133.2
125. 9
138.8
*l 597 7
446 3
531 9
515 4
544 3
6 121 8
r
*224 592 18,899 17, 617 18 557 17, 397
353 6
4248 410 6
408 4
4 764 3
421 7
429 4
408 7
404 0
5 089 7 4 827 9
11.2
10.1
11.6
10.7
141 5
' 131 3
642 9
643 5
673 0
6600
7 616 5 7 891 4
45 1
43 6
623 3 ' 605 3
53 6
55 3
r4
115 2
122 4
109 6
l 386 6 r4 1 3g(5 f)
121 7
28 477 3 r428 197 2 2 480 8 2460 1 24260 2 196 2
l
Revised.
Number of carriers filing complete reports for the year.
Preliminary estimate by Association of American Railroads. 3 Data cover 5 weeks;
1 029
967.6
109.8
647.2
120.8
457 5
17, 656
345 0
1,162
950.7
115.3
619.3
127.6
493 4
18, 932
357.9
1,146
1 234 1,230
925.9 1,022.9 1,024.7
104.5
98.2
83.7
621.8
653.7
666.7
133.5
138.2
139.1
532 0
521 7
504 8
18,660 19, 258 20,570
415 3
414.3
3676
1,273
955.8
81.6
r
695. 5
146.9
521 5
21, 511
455 1
378 0
393.9 433 5
398 1 402 4
407 4
10.3
11.2
10.8
11.1
11.6
9.7
679.2
681.9
6440
662 3
643 1
708 8
52 5
55 4
50 6
49 0
50 7
119.2
121 1 120 6
115 8
102 2
113 7
2 115 3 2259 6 2 1721 2381.5 2, 442. 3 2,592 6
' 1, 278 1,245
946.3
f 990. 6
69.5
•• 81. 1
r
649.2
661. 9
131.7
126. 7
r
499 3 538.9
••20,895 20, 172
' 412. 5 432.6
342. 1
364 0
11.6
10.5
672. 1 664.4
r
51 4
38 1
114.4
110 7
r
2 284.3 2, 396. 6
r
other months, 4 weeks. 4 Annual total reflects revisions not distributed to the monthly
data.
9 Includes data not shown separately.
SUKVEY OF CUERENT BUSINESS
May 1968
1968
1967
1967
1966
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
S-25
Mar.
Annual
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS— Continued
Organic chemicals, production :cf
Acetic anhydride
Acetylsalicylic acid (aspirin)
Creosote oil
mil Ib
do
mil gal
DDT
Ethyl acetate (85%)
Formaldehyde (37% HCHO)
Glycerin, refined, all grades:
Production
Stocks end of period
mil. Ib
do
do
Phthalic anhydride
mil Ib
do
do
1
1, 556. 4
30.5
1
116 5
108.4
2.9
10.6
129.7
2.9
11.4
135.0
2.5
91
135.8
1.7
95
140.1
2.2
9.2
131.8
2.2
9.9
127.0
2.8
9.9
131.5
3.3
9.0
123.4
2.8
9.9
144.0
2.1
133.3
2.6
7.2
136. 5
2.6
9.5
140.1
2.8
141.5
102.8
121.6
138.9
1 3, 627. 1 3, 686. 2
9.7
10.7
321.8
9.4
12.4
308.9
9.7
12.8
319.5
7.0
14.2
295.4
9.6
10.1
281.2
10.5
11.2
299.0
5.7
9.4
289.8
4.4
9.4
324.4
6.6
14.9
320.6
10.1
12.7
335.1
11.7
13.5
313.8
11.5
10.5
337.6
12.6
13.5
340.4
353.8
32.6
520 2
715.3
30.9
27.0
44 5
57.6
31.0
27.2
39 6
59.8
33.3
27.7
45 9
60.4
28.1
29.4
45 7
55.0
26.8
27.9
41 9
52.8
- 24.8
22.3
44.9
61.0
25.7
21.4
39 5
65.1
32.4
25.0
41.9
63.0
32.6
30.4
44.6
62.7
30.8
32.6
48.3
66.2
30.8
36.0
45.4
51.0
29. 4
'36.7
46.5
' 58. 2
34.1
42.0
46.8
59.7
685. 0
218 4
556.1
79.0
56.3
204.1
51.6
6.7
52.6
209 5
39.8
6.5
'63.1
214.4
49.2
7.0
57.2
216.0
45.6
6.8
54.1
221.9
48.5
5.3
55.2
221.8
49.7
6.5
57.4
218.6
43.3
7.1
66.3
219. 5
44.1
8.4
59.5
208.7
44.2
8.4
57.2
218.4
41.6
6.2
56.8
220.0
44.0
6.4
52.2
223.3
43.8
5.0
21.5
21 7
3. 6
26.5
26.1
4.0
24.5
25.0
3.6
26.1
25.7
4.0
26.8
26.8
4.1
23.3
23.1
4.4
23.7
24.0
4:1
23.8
23.6
4.4
22.9
22.4
4.9
23.7
22.9
5.7
23.5
23.8
5.3
'1,600.9
34.1
' i 114 7
1
1
1
365.6
26.0
485 6
674. 8
1
ALCOHOL
Ethyl alcohol and spirits:
Production
Stocks end of period
Used for denaturation
Taxable withdrawals
Denatured alcohol :
Production
Consumption (withdrawals)
Stocks, end of period
r
mil tax gal
do
do
do
659.6
204.0
570.0
74.7
mil wine gal
do
do
307.3
310.0
3.5
300.1
298 7
4.9
27.9
26.8
3.8
thous. sh. tons
do
do
do
14, 219
2,303
10, 018
1,000
15, 294
1 1, 629
11, 025
1,119
1,166
137
922
83
1,171
40
943
77
1,311
153
947
87
1,360
95
959
76
1,111
68
855
53
1,354
111
940
98
1,194
218
773
109
1,501
334
963
115
1,343
128
943
71
1,428
159
947
106
1,419
175
935
91
1,324
121
948
127
1,417
162
1,077
79
_ _ ___ _ _ do _
do
.
do.
do
154
160
2,382
321
177
168
2,711
218
19
32
244
22
28
19
308
22
21
5
207
21
12
3
154
39
10
2
121
24
10
15
264
16
12
8
293
5
16
13
'171
2
17
13
328
18
11
9
188
11
18
20
467
16
18
17
378
8
28
31
473
30
Potash deliveries (K20)
do
Superphosphate and other phosphatic fertilizers
(100%P205):
Production _
_• thous. sh. tonsStocks, e n d o f period _ _ _ _ _
do
3,991
4,034
504
611
319
217
145
298
380
385
267
259
336
' 4, 450
624
r 4, 695
'726
'450
'632
'429
'534
r 404
'358
635
'299
'710
'337
'726
'362
'682
'407
597
'411
'658
398
726
356
697
'365
'704
401
610
Explosives (industrial), shipments, quarterly:
Black blasting powder _
mil. Ib
High explosives
do
.5
1, 753. 1
.4
1 708 5
.1
406.4
Paints, varnish, and lacquer, factory shipments:
Total shipments. __
__
_
mil. $
Trade products
do
Industrial
finishes
_ _
do
2, 364. 4
1, 312. 4
1, 052. 0
2, 450. 1
1, 373. 1
1, 077. 0
208.3
114.8
93.5
208.6
121.1
87.5
231.7
134.4
97.3
250.4
146.7
103.7
214.8
134.2
80.7
248.2
146.8
101.5
210.4
120.1
90.3
204.8
109.3
95.4
188.0
96.9
91.0
155.6
78.6
76.9
Sulfur, native (Frasch) and recovered:
Production
thous. Ig. tons r i 8, 243
2,704
Stocks (producers'), end of period
do __
8,258
1,954
708
2,492
696
2,405
719
2,349
668
2,215
716
2,278
695
2,244
673
2,263
699
2,231
678
2,123
702
1,954
1 190. 6
i 171. 9
15.7
13.8
15.1
14.2
11.6
12.5
12.7
12.8
13.9
14.9
1
i 585. 9
51.1
47.6
52.3
52.8
46.1
53.1
50.1
50.8
47.8
44.0
i 289. 9
489.7
i 953. 7
1
645. 4
28.1
41.6
88.2
57.4
24.9
40.1
80.6
51.2
19.0
46.4
80.8
51.3
25.4
41.8
80.0
56.6
20.5
35.7
67.3
42.8
20.8
44.0
80.7
57.9
29.0
39.4
79.3
60.2
22.9
42.1
87.2
60.6
24.9
42.4
84.2
57.4
27.4
44.9
76.0
52.8
201.2
225.5
330.5
207.9
215.9
320.5
208.5
211.8
316.1
192.3
212.2
309.8
169.8
167.7
299.7
190.2
203.1
291.8
189.8
221,5
296.6
203.6
228.5
321.3
213.9
235.4
311.4
208.7
233.2
360 3
r
FERTILIZERS
Exports, total 9
Nitrogenous materials
Phosphate materials
Potash materials _
Imports:
Ammonium nitrate
Ammonium sulfate
Potassium chloride
Sodium nitrate
'575
MISCELLANEOUS PRODUCTS
.1
456.2
.1
442.0
2
330 9
.1
403.9
' 177. 6 186.2
'89 7
100 9
'87.9
85.3
681
1,996
211.0
116 4
94 6
646
2,011
PLASTICS AND RESIN MATERIALS
Production:
Cellulose plastic materials.
Thermosetting resins:
Alkyd resins. _ _ _
Coumarone-indene and petroleum
resins.-.
Polyester resins. _
Phenolic and other tar acid resins
Urea and melamine resins.
mil. lb._
do
polymer
mil. Ib
do
do_
do
Thermoplastic resins:
Styrene-type materials (polystyrene) mil. Ib
Vinyl resins (resin content basis) _ _ _ do_
Polyethylene
_ _
do
614. 0
i 333. 5
453.3
1
982. 6
1
632.8
1
2, 397. 2
1
12,365.4
2, 670.0 12,599.4
13,558.7 3, 761. 9
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total
mil. kw.-hr__ 1,249,444 1,314,299 107, 699 102, 172 106, 582 111, 704 114, 428 118, 321 107, 159 109, 498 109,818 115,905 121, 305 112, 970 114,845
Electric utilities, total
By fuels
By waterpower
Privately and municipally owned util
Other producers (publicly owned)
Industrial establishments, total
By fuels
_
By waterpower
_ _
do
do
do
1,144,350 1,211,749
949, 594 991, 706
194, 756 220, 043
98, 942
80,419
18, 523
93, 654
76, 199
17, 455
97, 727 103, 007 106, 019 109, 753
78, 524 84, 505 87, 106 91, 088
19, 203 18, 502 18,914 18, 666
do.
do
933, 464
210,886
985, 580
226, 169
80, 627
18,315
75, 546
18, 108
78, 747
18, 980
83, 772
19, 235
85, 836
20, 184
89, 231
20, 522
do
do
do
105, 094
101, 912
3,182
102, 549
99, 203
3,346
8,757
8,454
304
8,518
8,220
298
8,854
8,524
330
8,697
8,408
289
8,409
8,183
226
8,568
8,320
248
' Revised.
i Revised annual total; revisions are not distributed to the monthly data.
98, 939 100,864 101, 288 107, 340 112, 565 104, 531 105,887
81, 658 82, 989 82,781 86, 503 92, 325 86, 615 87,024
17, 281 17, 874 18, 508 20, 837 20, 240 17, 915 18, 864
80, 731 82, 784
18,208 • 18, 079
8,220
8,001
219
8,635
8,369
266
82, 860
18, 429
87, 361
19, 979
91, 866
20, 699
84, 976
19, 555
85, 345
20, 542
8,529
8,259
270
8,565
8,251
314
8,740
8,421
319
8,439
8, 155
284
8,957
8,651
306
cf Data are reported on the basis of 100 percent content of the specified material unless
otherwise indicated.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
S-26
1966
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1967
Mar,
Annual
May 1968
Apr.
May
June
July
1968
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
ELECTRIC POWER AND GAS—Continued
ELECTRIC POWER— Continued
Sales to ultimate customers, total (EEI) mil.kw.-hr. 1,038,982 1,107,023
Commercial and industrial:
Small light and power §
_
__do __ 225, 878 242, 492
465, 077 486, 043
Large light and power §
do
90, 421
88, 105
87, 585
90, 587
94, 197
97,963
95, 646
92, 564
91, 635
95, 386 100,952
98, 707
18, 859
39, 559
18, 705
39, 530
18, 679
40, 304
20, 343
40, 991
22, 196
40, 130
23, 056
41, 913
22, 310
41, 507
20, 868
41, 724
19, 708
41, 308
20,047
41, 216
20,851
41, 851
20, 526
41, 380
4,572
331, 525
9, 863
29,426
3,102
426
28, 174
817
2,407
179
376
26, 142
772
2,376
204
370
24,885
726
2,316
306
337
25, 510
702
2,405
301
336
28, 166
713
2,341
315
351
29, 130
754
2,437
321
338
27, 948
794
2,436
314
355
25, 939
876
2,494
307
389
26, 513
915
2,525
278
434
29, 782
962
2,669
277
458
33, 924
960
2,626
283
432
32, 603
901
2,593
273
Railways and railroads
Residential or domestic
Street and highway lighting
Other public authorities
Interdepartmental
do
do
_ do _
__do
do
_
4,514
306, 572
9,240
25, 922
1,779
Revenue from sales to ultimate customers (Edison
Electric Institute)
mil. $_ 16, 196. 1 17, 222. 7 1, 393. 8 1, 370. 4 1, 362. 4 1, 416. 3 1, 481. 4 1, 523. 6 1,496.5 1, 444. 5 1,423.4 1,473.0 1, 545. 5 1. 519. 0
GAS
Manufactured and mixed gas:
Customers end of period total 9
Residential
Industrial and commercial
thous
do
do
670
628
41
668
625
42
677
634
43
672
629
42
666
624
42
668
625
42
mil therms
do
do
1 386
807
562
1 456
836
609
561
363
198
311
176
131
175
68
106
409
229
174
Revenue from sales to consumers, total 9 mil. $
Residential
do
Industrial and commercial
do
127.9
83.5
43 1
131.2
83.8
46.5
49.0
33.6
15.3
29.0
18.5
10.2
16.8
8.9
7.8
36.4
22.8
13.1
38, 184
35 057
3 082
38, 938
35 746
3,146
38, 201
35 062
3,139
38, 073
34, 991
3,037
38, Oil
34, 977
2,990
38,938
35, 746
3,146
mil therms
do
do
127 524
40, 9,59
80 890
133, 115
42, 718
86 605
42, 927
18, 843
24 084
31, 225
9,194
20, 931
24, 595
3,684
19, 578
34, 368
10, 997
22, 012
Revenue from sales to consumers, total 9 mil. $
Residential
do
Industrial and commercial
do
7, 745 2
4, 108. 2
3 433 8
8, 087. 0 2, 882. 5
4, 277. 7 1, 731. 9
3 678. 3 1, 150 5
1, 868. 3
962.6
865.8
1,245.1
484.2
719.6
2, 091. 1
1, 099. 0
942.4
Sales to consumers total 9
Residential
Industrial and commercial
Natural gas:
Customers end of period total 9
Residential
Industrial and commercial
Sales to consumers total 9
Residential
Industrial and commercial
thous
do
do
r
r
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production
mil. bbl
Taxable withdrawals
do
Stocks, end of period
do
Distilled spirits (total) :
Production
- mil. tax gal
Consumption, apparent, for beverage purposes
mil. wine gal
Taxable withdrawals
_ mil. tax gal
Stocks end of period
do
Imports
mil. proof gal
Whisky:
Production
mil. tax gal
Taxable withdrawals
do
Stocks end of period
do
Imports
mil. proof gal
Rectified spirits and wines, production, total
mil. proof gal
Whisky
do
Wines and distilling materials:
Effervescent wines:
Production
mil. wine gal
Taxable withdrawals
do
Stocks, end of period
_ _
do
Imports
do
Still wines:
Production _
do
Taxable withdrawals _ _ _ _ _
_ do__
Stocks, end of period
do
Imports
_
do
113. 04
104. 26
10.57
116. 55
106. 97
10.77
10.68
9.50
12.14
10.77
9.18
12.88
11.26
10.20
13.04
11.21
10.51
12.83
20.27
10.64
9.63
13.03
10.74
10.48
12.48
8.89
8.67
11.94
9.00
8.28
11.83
8.37
8.12
1.1. 30
8.47
8.33
10.77
9.05
7.58
11.52
8.60
7.48
11.94
191. 14
211. 74
19.36
18.18
16.50
11.14
13.83
16.80
20.58
20. 73
19.94
18.33
16.49
308. 92
144. 73
r
880. 46
60.30
324. 81
148. 20
904.58
68.17
27.24
12.64
892. 90
5.21
23.66
11.70
895. 69
4.90
27.99
27.52
13.46
12.95
899. 46 '900. 43
5.56
5.19
22.55
9.40
900. 14
4.04
26.46
13.27
897. 62
4.89
25.80
12.77
898. 03
5.76
28.94
16.07
897. 34
7.80
33.94
15.20
899. 16
8.54
37.98
11.05
904. 58
7.42
23.22
10.97
909. 39
4.76
24.62
10.07
912. 89
5.00
5.17
14.82
153. 78
8.25
' 97. 02
856 66 846. 85
4.49
59.70
r 14. 10
7.54
850. 06
4.32
15.47
8.21
854. 57
4.49
10.98
7.60
855. 37
4.88
7.68
5.44
855. 62
3.50
9.91
8.29
854. 32
4.27
12.10
8.73
854. 33
5.04
14.58
11.69
853. 34
6.94
14.83
10.74
853. 74
7.67
12. 76
7.21
856. 66
6.58
13.08
7.19
860. 36
4.22
13.57
6.88
864.53
4.48
4.60
128. 51
94.58
835. 46
52.20
101. 08
67.14
8.94
5.53
8.69
5.32
9.67
5.93
'9.38
5.82
6.47
3.87
9.13
5.56
9.84
6.45
11.82
7.78
12.17
7.90
8.63
5.17
8.31
4.70
6.90
4.16
8.75
7.40
3.75
1.64
r
' 108. 13
' 67. 20
' 10. 18
'•8.74
4.30
1.-92
.83
.65
4.50
.17
.71
.52
4.64
.13
'.81
'.65
'4.69
.15
.94
.68
4.87
.14
.49
.48
4.86
. 10
1.01
.63
5.14
.10
.80
.76
5.09
.10
.85
1.11
4.75
.24
1.00
1.20
4.46
,28
1.04
1.12
4.30
.23
.98
.60
4.62
. 15
1.07
.56
5.07
.13
1.12
.78
5.35
.14
2.63 '3.14
2.88
14.94
13.59 ' 13. 82
212. 49 '201.75 '187.41
1.51
1.41
1.35
1.84
10.12
177. 28
1.17
3.59
15.44
165. 28
1.27
31.43
14.69
177.92
1.51
106. 20
16.69
263. 56
1.69
47.77
16.61
285. 85
2.24
7.93
14.45
272. 03
1.88
3.88
15.11
258. 34
1.37
2 83
14.51
243 08
1 27
2.92
18.42
227 77
1.30
' 10. 65 '7.41
2.29
8.90
62.10
161. 94
58.10
19.98
10.50
3.18
3.84
218. 38 T 217. 36 '3.33
165. 80 ' 174. 84 ' 17. 90
265. 11
272 03 '225. 09
1.47
16.34 * 17. 46
Distilling materials produced at wineries— .do _ _ _ ' 391. 14
r
361. 34
10.56
3.28
1 233 4
168 6
.675
111.8
76.2
.672
120.0
102.9
.672
129. 1
151.2
.673
129.5
191.6
.672
104.9
228.5
.672
86.2
233.2
.681
75.3
212.4
.677
84.6
200.5
.676
82.2
186.2
.675
92.4
168.6
.686
108.1
163.5
.673
106.1
101 9
173 0 ' 176 4 183.6
.672
.673
.673
1 897 3
1,271 5
160.7
106.7
170. 5
119.1
187.3
131.1
192.0
137.4
172.4
120.6
159.4
108.6
140.8
90.8
138.1
87.2
132.0
81.0
148.0
92.5
147.7
95.1
142 7
94 4
390 3
344.0
151 8
367.4
317.9
18.8
387.4
335.1
15.7
408.0
355.4
11.7
438.6
384.8
18.4
453.3
399.8
12.0
457.8
404.1
7.2
439.5
386.1
7.6
419.7
370.0
8.5
401.8
354.3
9.3
390.3
344.0
13.9
372.9
326.3
9 3
361 0 '352 3
312.3 '304.6
8 7
91
361 3
312.9
.521
.518
.518
.518
.522
.524
.518
.518
.518
.518
.529
.530
.522
.550
DAIRY PRODUCTS
Butter, creamery:
Production (factory)
Stocks, cold storage, end of period
Price, wholesale, 92-score (N.Y.)
Cheese:
Production (factory), total
American, whole milk
_ _
mil. Ib
1,112.0
do
32.3
.672
$ per lb__
mil. Ib
do
Stocks, cold storage, end of period
do
American, whole milk _
_ _ __
do
Imports
__
do
Price, wholesale, American, single daisies (Chicago).
_ __
*__$perlb
' Revised.
1,855.5
1,220.6
372.7
322.2
135.5
.527
1
1 Annual total reflects revisions not distributed to the monthly data.
.528
161.2
106.0
§Data are not wholly comparable on a year to year basis because of changes from one
classification to another.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
May 1968
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
1967
Annual
S-27
1968
1967
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FOOD AND KINDRED PRODUCTS; TOBACCO— Continued
DAIRY PRODUCTS— Continued
Condensed and evaporated milk:
Production, case goods:
128.6
63.7
Condensed (sweetened)
.
mil. Ib
4.0
1, 696. 1 1, 498. 9
Evaporated (unsweetened) - „ __ - . d o
119.8
Stocks, manufacturers', case goods, end of period:
11.6
5.8
13.8
Condensed (sweetened)
mil. Ib
192.9
190.2
Evaporated (unsweetened)
_ _ do _.
81.9
Exports:
92.9
28.6
Condensed (sweetened)
_
do
1.8
38.4
Evaporated (unsweetened) _ _ __ __ _ __do_
33.8
3.7
Price, manufacturers' average selling:
6.73
7.05
Evaporated (unsweetened)
$ per case
7.05
Fluid milk:
1 19, 892 119, 294 c 10, 51 7
Production on farms
mil. Ib
59, 578
56, 398
5,185
Utilization in mfd. dairy products _ _ _ do_ _
5.02
4.81
Price, wholesale, U.S. average
$ per 1001b__
'4.97
Dry milk:
Production:
Dry whole milk . _
mil. Ib
94.4
82.8
8.0
1, 595. 1 1, 694. 2
Nonfat dry milk (human food)___ __ . - do_
145.7
Stocks, manufacturers', end of period:
6.1
Dry whole milk..
_ _ _ do_ _
6.9
7.2
101.1
118.2
Nonfat dry milk (human food)
do
••93.9
Exports:
16.4
Dry whole milk
do
12.8
16
140.9
Nonfat dry milk (human food)
do
170.3
10.7
Price, manufacturers' average selling, nonfat dry
.182
.199
milk (human food)
$ per lb._
.200
7.8
3.3
7.4
92.9
86.5
85.8
96.7
5.8
5.4
190.2
142.2
82
104.0
78.1
1.5
2.3
2.5
6 6
146 5
6.9
6.2
7.9
3.4
3.2
5.9
173.3
152.0
141.9
4.3
167.2
115.5
97.0
85.0
98
124 0
11.0
174.2
12.0
228.6
14.4
266.8
13.6
281.8
10.4
292.2
8.7
265.3
219.2
7.3
2.2
2.3
7 0
5.2
3.6
1
3.2
(i)
1.4
(i)
2.3
(i)
2.5
1.0
2.5
6.0
2.6
33
8.9
9
8.7
8.2
2 7
7.05
7.05
7.05
7.05
7.05
7.06
7.06
7.06
7.06
7.06
7.06
7 07
10, 734
5,558
'4.79
11 470
6 134
'4.75
11, 095
6,379
'4.67
10, 315
5,599
'4.79
9,709
4,984
'4.96
9,124
4.173
5.20
9 167
4 137
'5.31
8 814
3,875
5.36
9 299
4,198
5.29
9 608
4 633
5.27
9,249
4,610
5.20
10 269
5 038
'5.08
88
173.0
10.2
195.1
7.2
202.4
8 2
157 5
5.1
130.1
4 7
100.3
5 4
100 8
57
100 6
61
123.9
69
128 9
7.3
129.1
7 7
145 5
8 8
115.7
10.9
137.9
9.4
157.6
10 2
162.3
8.6
7 4
136.0
7 2
116.1
65
99.7
6.1
101.1
66
84.6
6.6
152.6
79.3
6 3
76.8
8
7.2
9
7
13.4
12
11
32.1
g
7.4
7
16.2
19.3
4.7
3.5
2.5
4.1
11
7
6.2
15
.199
.199
.199
.199
.198
.199
.200
.199
.198
.198
.198
.199
87.6
86.5
91.7
98.7
106.1
121.8
105.5
152.5
121.2
116.7
122.8
122. 3
1.2
11
10 460
5.01
6.7
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats rye, wheat), ..mil. bu._ 1, 590. 3
Barley:
Production (crop estimate)
Stocks (domestic), end of period
On farms
_
Off farms
Exports, including malt§
Prices, wholesale (Minneapolis) :
No. 2, malting
No. 3, straight-
do
_ do
do
do
do _
$ per bu
do
Corn:
Production (crop estimate, grain only).. mil. bu__
Grindings, wet process
do
Stocks (domestic), end of period, total mil. bu
On farms
do
Off farms
do
Exports, including meal and
flour
do Prices, wholesale:
No. 3, yellow (Chicago)
$ per bu-_
Weighted avg., 5 markets, all grades. - _ _ d o _ _ _
Oats:
Production (crop estimate)
Stocks (domestic), end of period, total
On farms. _.
Off farms-..
_ _
2 393. 2
294.4
179.1
115.2
63.6
Wheat:
Production (crop estimate), total
Spring wheat.
.
Winter wheat
Distribution. . _
Stocks (domestic), end of period, total
Off farms
1.34
1.31
3.0
4.9
3121.8
3
57.0
3
64. 8
5.2
79
2 3
380 0
230.6
149 5
31
2 9
4 0
1 33
1 32
1 32
1.31
1.35
1.33
1 33
1 31
1 32
1 29
1 31
1 30
1 26
1 26
1 26
1 26
1 OK
4, 722
207.2
17.6
16 7
18.1
18 2
16 1
18 6
18 4
19 2
4, 217
3,353
'864
515.3
2,715
2,044
671
49.0
35.4
31.7
1,743
1,337
406
34.0
28.0
36.8
3823
3
569
3254
46.4
42 5
1.27
1.25
3,677
2,899
779
616.6
r
207.2
114.9
92.2
.8
1.30
1.29
2
1.38
1.34
1.36
1.32
1.37
1.33
1.35
1.33
1.28
1 26
1.22
1 19
1.19
1 19
1.15
1 14
216
127
89
2
7
7
0
9
3
11
4 8
1 24
1 20
1 20
1 23
1 24
1 24
1 25
171
IK Q
18 2
17 9
76 3
' 4, 217
3 353
'864
61 7
51 8
48.1
3,168
2 362
806
54 9
1.11
1 09
1.10
1 09
' 1. 12
1 10
1.14
1 14
1.06
1 07
782
'648
'543
104
442
355
88
30.2
9.5
.1
.2
.8
1.7
2 8
14
9
4
g
<.77
4.75
.77
.75
.74
.78
.74
.73
.74
.74
.74
285.0
1 90
1 90
10
0
1 94.
1 90
"To o~
1.13
i 11
289.6
1,536
920
1,913
1,403
163
122
138
134
180
206
104
58
144
122
202
153
165
145
352
41
81
43
317
254
239
202
120
135
113
118
70
269
5,880
3,962
6,675
4,561
232
441
150
385
104
385
26
276
405
206
1,133
1,527
1,758
2 978
.083
1,875
4 066
.085
1,163
461
.085
900
319
.085
616
324
.085
450
ooq
912
CIA
1QA
997
.085
.085
.085
2
224.1
27.7
1.19
24.3
1.23
1.21
1.22
18.7
1.17
1.23
1.17
1, 524
2312
1,212
'1,365
349
275
393
700
3
425
3
1,566
602
955
27. 8
28.4
1.20
21,312
2249
2 1, 062
' 1, 600
do
1,049
3270
3199
3
71
379
3
776
640
136
289
'648
' 543
104
441
358
83
g
7
.80
.83
.79
59
62
187
135
194
224
91 °.
277
254
260
185
179
1,487
504
592
492
384
408
338
451
511
485
235
424
1,571
2,064
2,003
1, 875
1,671
1,545
1,236
.085
.085
.085
.085
.085
1.16
1.14
27 7
1.13
1.17
358
00 0
1.18
1
81
167
481
1,18
22 9
1.17
1.13
2
2
* 1, 209
505
704
641
461
r
2
Revised.
i Less than 50,000 Ibs.
Crop estimate for the year.
3 old crop only;
new crop not reported until beginning of new crop year (July for barley, oats, rye, and wheat;
' 301. 6
182. 9
' 118 7
r
2
2801
662
557
105
mil. bu
do
do
do
do
370. 2
' 301. 6
' 182. 9
' 118. 7
40.2
2 4, 117
203.6
Exports, including oatmeal _ _ ._
do
Price, wholesale, No. 2, white (Chicago)
$per bu._
Rye:
Production (crop estimate)
mil. bu
Stocks (domestic), end of period
do
Price, wholesale, No. 2 (Minneapolis)..? per bu._
100.9
2
1.35
1.33
mil. bu_
do
do
do
Rice:
Production (crop estimate)
mil. bags?
California mills:
Receipts, domestic, rough
mil. lb.
Shipments from mills, milled rice __
do
Stocks, rough and cleaned (cleaned basis), end
of period
mil. lb_.
Southern States mills (Ark., La., Tenn., Tex.):
Receipts, rough, from producers
mil. lb._
Shipments from mills, milled rice. ._
do
Stocks, domestic, rough and cleaned (cleaned
basis), end of period
mil. Ib
Exports .
do
Price, wholesale, Nato, No. 2~ (N.6.)
$ per lb__
1, 245. 4
145
3280
Oct. for corn).
e
Corrected.
4
Average for 11 months.
' 347
' 1, 209
505
704
§ Excludes pearl barley.
373
836
360
. 477
9 Bags of 100 Ib.
May 1968
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
1968
1967
1967
Apr.
Mar.
Annual
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Feb.
Jan.
Mar.
Apr.
FOOD AND KINDRED PRODUCTS; TOBACCO— Continued
GRAIN AND GRAIN PRODUCTS— Con.
Wheat— Continued
Exports, total, including
Wheat only
mil. bu__
do
875.7
820.8
675.6
637.1
50.8
46.5
48.3
44.6
48.0
44.2
50.5
45.9
59.6
57.4
65.4
63.1
71.0
68.4
59. .0
56.8
71.5
68.9
59.1
55.2
63.1
58.7
69.1
65.4
63.4
59.1
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
$ per bu~
No. 2, hd. and dk. hd. winter (Kans. City). do
Weighted avg., 6 markets, all grades _ _ _ _ _ d o
1.97
1.81
1.88
1.92
1.68
1.88
1.97
1.84
1.93
1.96
1.78
1.91
1.99
1.77
1.94
1.94
1.66
1.86
1.93
1.61
1.75
1.86
1.58
1.81
1.90
1.57
1.90
1.93
1.63
1.93
1.91
1.59
1.86
1.85
1.58
1.86
1.86
1.62
1.87
1.85
1.63
1.85
1.87
1.61
1.84
18,479
345
42, 767
19, 756
365
44, 336
19, 902
365
44, 724
18, 490 21, 660
335
398
41, 851 48,842
20, 397
382
47, 094
21, 216
394
49, 019
20, 453
378
46, 957
1,560
1,642
4 224
1,976
911
1,001
4,689
1,118
921
1,115
6.263
5.790
6.275
5. 767
6.213
5.700
6.275
5.800
6.013
5.583
5.975
5.450
5.975
5.483
5.925
5.433
5.913
5.383
5. 938
5.433
400
2,338
943
459
316
2,185
891
388
300
2,425
1,013
406
285
2,423
958
326
271
2,238
955
397
332
2,461
1,108
612
348
2,330
1,078
972
383
2,433
1,393
1,468
357
2,254
1,215
1,287
323
2,214
966
668
302
365
2,493 '2,257
850
1,045
401
523
342
2,241
847
472
883
24.65
24.58
35.00
24.59
24.81
31.00
25.37
25.14
34.50
25.83
25.49
32.00
26.37
25.61
30.00
27.18
25.53
31.00
27.59
24.79
31.00
26.95
24.91
31.00
26.46
23.90
32.00
26.38
23.68
33.00
26.68
23.89
34.00
27.19
25.68
27. 67
26.09
27.38
26.43
63, 729 70, 900 ' 6, 728
15, 175 » 16, 263 1,442
5,870
1,372
5,306
1,328
5,178
1,249
4,743
1,118
5,808
1,257
6,114
1,286
6,684
1,545
6,431
1,531
6,100
1,396
6,496
1,445
5,697
1,288
6,238
1,323
1,431
17.23
21.31
21.05
21.12
19.94
19.09
18.06
17.22
16.79
17.73
18.86
19.37
18.56
17.5
16.1
16.9
17.8
17.5
17.5
1,050
276
96
840
190
78
796
178
75
200
26.50
flour
Wheat flour:
Production:
Flour__ _ _ thous. sacks (100 lb.)__ 253, 000 241, 653 21, 272
4,423
372
4,621
Offal
__ __thous. sh. tons__
Grindings of wheat
_
thous. bu 567, 936 548, 125 47,842
Stocks held by mills, end of period
4,372 4,226
thous. sacks (100 lb.)__
4,180
23, 540 16, 535 1,844
Exports
do
Prices, wholesale:
Spring, standard patent (Minneapolis)
6.124 6.263
6.365
SperlOOlb5.994
Winter, hard, 95% patent (Kans. City)__do
5.631 5.850
1.84
1.57
1.83
20, 731 21, 543 ' 20,379 21, 869
390
'366
387
371
46, 503 48, 368 ' 45,637 48, 987
4,391
4,372
1,903 1,568 1,842
1,712
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
-thous. animals..
Cattle
do
Receipts at 28 public markets
do
Shipments, feeder, to 8 corn-belt States
do
Prices, wholesale:
Beef steers (Chicago)
_ $perl001b._
Steers, stocker and feeder (Kansas City)__do
Calves, vealers (Natl. Stockyards, Ill.)__do
Hogs:
Slaughter (federally inspected) ___thous. animals. _
Receipts at 28 public markets _ _ _ _ _ _do__
Prices:
Wholesale, average, all grades (Chicago)
$ per 100 lb._
Hog- corn price ratio (bu. of corn equal in value
to 100 Ib. live hog)
Sheep and lambs:
Slaughter (federally inspected). __thous. animals-Receipts at 28 public markets
_do__ _
Shipments feeder to 8 corn-belt States
do
Price, wholesale, lambs, average (Chicago)
SperlOOlb-
4,002
4,432
27,319 '27,776
13, 134 12, 506
7,852
8,056
26.17
25.41
32.38
22.61
18.5
25.97
24.73
32.38
18.95
16.3
18.05
14.0
13.5
17.4
16.7
17.7
18.4
17.1
17.2
' 11, 502 '1,076
3,619
1,449
250
71
872
215
76
890
300
95
904
272
96
902
277
76
1,001
359
113
1,037
405
223
1,007
451
900
899
323
150
869
248
92
25.00
23.48
21.25
22.75
29.25
26.75
24.75
24.00
22.50
22.25
22.50
22.00
23.00
24.75
26.00
29,291
31, 106
2,748
2,513
2,569
2,552
2,327
2,624
2,599
2,787
2,646
2,582
2,816
2,494
2,581
621
480
1,318
644
484
1,397
727
41
110
783
39
96
725
43
91
664
39
112
601
34
130
528
40
131
537
40
134
591
47
138
638
46
123
644
36
120
651
38
128
635
37
117
'618
32
109
16, 710 « 17, 251
286
317
34
32
1967
895
1,466
313
3
67
1,378
301
3
61
1,524
300
3
56
1,514
288
3
77
1,381
276
3
97
1,495
255
3
99
1,422
260
2
101
1,490
265
3
101
1,384
279
3
88
1,381
286
3
76
1,554
287
3
87
1,414
264
2
•'78
1,406
-234
2
70
225
.419
.427
.442
.454
.460
.469
.486
.466
.460
.460
.464
.474
.469
.469
13
11, 553
3,901
1,988
MEATS AND LARD
Total meats:
Production (carcass weight, leaf lard in) , inspected
slaughter
mil Ib
Stocks (excluding lard), cold storage, end of
period
mil. lb__
Exports (meat and meat preparations)
do
Imports (meat and meat preparations)
do
Beef and veal:
Stocks, cold storage, end of period
do
Exports
do
Imports
do
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs.) (New York)
$perlb__
Lamb and mutton:
Production inspected slaughter
mil Ib
Stocks, cold storage, end of period
do
Pork (including lard), production, inspected
slaughter
mil Ib
Pork (excluding lard) :
Production, inspected slaughter
do
Stocks, cold storage, end of period
__do____
Exports _
do
Imports
do
Prices, wholesale:
Hams, smoked, composite
$perlb__
Fresh loins, 8-12 Ib. average (New York) ,_do
Lard:
Production, inspected slaughter
mil. lb__
Stocks, dry and cold storage, end of period__do
Exports
do
Price, wholesale, refined (Chicago)
$ per lb_.
.442
.451
581
17
574
15
56
15
44
16
43
17
43
15
43
13
48
11
50
11
49
13
45
15
.45
15
54
15
44
13
42
13
12, 000
13, 281
1,226
1,090
1,002
995
902
1,082
1,128
1,248
1,217
1,156
1,208
1,036
1,134
9, 662
234
55
298
10,751
286
56
!307
996
331
6
32
890
'387
5
24
798
336
4
25
799
293
3
32
724
239
2
26
878
199
3
24
918
203
4
21
1,009
250
7
23
987
279
5
23
944
286
5
32
993
288
4
27
849
291
3
27
929
306
3
29
353
.587
.569
.544
.515
.549
.467
.483
.458
.523
.556
.557
.554
.523
.594
.563
.553
.545
.545
.547
.502
.546
.465
.573
.472
.517
.515
.533
.492
.472
1,695
100
158
.152
1,835
151
189
.126
166
132
9
.133
145
142
19
.135
148
128
13
.129
141
128
14
.124
129
118
20
.119
149
106
16
.125
152
107
13
.124
172
105
18
.120
168
120
27
.113
154
151
8
.116
157
164
7
.114
136
124
27
148
130
13
624
622
733
791
771
992
942
1, 007
897
730
687
566
629
486
332
603
441
721
551
606
429
540
367
525
361
458
310
'400
'268
351
225
.120
'.115
.110
.105
'.110
.125
.135
.135
.135
POULTRY AND EGGS
Poultry:
Slaughter (commercial production)
mil. lb__
9,342
8,786
Stocks, cold storage (frozen) , end of period, total
mil. lb__
436
540
Turkeys
do
367
267
Price, in Georgia producing area, live broilers
.145
.122
$perlb__
r
c
Revised.
Corrected.
i Annual total reflects revisions not distributed to the monthly data.
662
351
207
321
176
296
149
308
160
368
221
.130
.125
.120
.125
'.135
SURVEY OF CURRENT BUSINESS
May 1968
Unless otherwise stated, statistics through 19S6
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
1968
1967
| 1967
Annual
S-29
Mar.
May
Apr.
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Apr.
Mar.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
POULTRY AND EGGS— Continued
Eggs:
Production on farms
^
mil. cases O__
Stocks , cold storage, end of period:
Shell
___
thous. casesG
Frozen
- mil. lb__
Price, wholesale, extras, large (delivered; Chicago)
$perdoz__
184.6
194. 9
17.0
16.7
17.0
16.2
16.4
16.1
15.6
16.2
15.8
16.5
16.6
15.7
'17.1
16.6
27
36
86
89
41
44
117
55
265
71
427
85
391
93
315
99
253
100
239
98
150
96
86
89
75
85
77
80
'82
'81
97
86
.322
.265
.258
.251
.324
.288
.320
.283
.298
.315
.300
.276
.298
.284
282 6
.288
39 8
.290
21 6
.274
10 8
.276
18 9
.278
16 5
.269
9 2
.279
89
.303
12.4
.291
17.8
.316
26.1
.310
35.8
'.315
24.5
.300
7.7
.300
.305
.401
. 298
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans:
Imports (incl shells)
thous Ig tons
Price, wholesale, Accra (New York)
$ per lb._
319 3
.246
Coffee (green):
Inventories (roasters', importers', dealers'), end
of period
thous bagscf
Roastings (green weight)
d'o
3,141
21, 300
T
2 311
21 291
2 874
5 657
22, 056
6,726
.414
1 535
21, 312
6,069
.384
1 616
2,092
412
.388
136
1,717
362
.385
106
1,722
455
.388
115
1,647
468
.395
111
2,126
627
.388
86
1 818
620
.380
192
1,599
476
.380
191
271
253
204
190
183
184
226
240
247
4 045
6 250
1,911
4 103
6 391
1,958
110
233
184
10
158
156
144
214
198
123
481
146
48
479
102
60
760
286
do
do
do
10, 444
10, 299
2, 598
10, 516
10, 245
2,870
873
859
2,614
824
788
2,501
880
842
2,379
1 053
1,022
2 130
891
875
1,869
sh tons
3, 006
1 468
91
57
68
197
58
Imports:
Raw sugar, total 9
thous sh tons
From t h e Philippines _. _ _ _ _ _ _ _ d o
Refined sugar, total
do
4,198
1,039
38
4,584
1 1, 134
97
406
100
4
421
154
3
281
54
4
466
132
5
.070
.073
.072
.073
$ per 5 Ib
$ per Ib
.620
096
2 619
099
629
099
629
099
.627
099
thous Ib
132, 996
142, 583
14, 419
14, 518
3, 189. 5
118.6
3 225. 7
139.2
270.5
119.2
2, 946. 8
83.4
2, 922. 1
92.8
2, 109. 7
53.2
Imports, total
do
From Brazil
_
do
Price, wholesale, Santos, No. 4 (N.Y.)-$ per lb__
Fish:
Stocks, cold storage, end of period
-..mil. lb__
Sugar (United States):
Deliveries and supply (raw basis) :§
Production and receipts:
Production
thous sh tons
Entries from off-shore total 9
do
Hawaii and Puerto Rico
do
Deliveries, total 9
For domestic consumption
Stocks raw and ref end of period
Exports raw and refined
Prices (New York) :
Raw, wholesale
Reflnedv
Retail (incl N E New Jersey)
"Wholesale (excl excise tax)
Tea, imports
$perlb__
Baking or frying fats (incl. shortening):
Production
mil Ib
Stocks, end of period®
do
Salad or cooking oils:
Production
do
Stocks, end of period©
do
Margarine:
Production
do
Stocks end of period©
do
Price, wholesale (colored; mfr. to wholesaler or
large retailer* delivered)
$ Der Ib
2 457
5,226
2 702
4,816
2,568
5,687
' 2, 311
5,592
1,845
637
.375
166
1,424
316
.373
127
2,202
631
'.373
140
2,461
956
.375
142
1,755
510
.375
135
.375
238
248
253
227
••201
'174
174
92
538
205
670
542
152
1,090
327
117
978
339
99
551
2 128
24
172
302
129
146
142
1 048 1,051
1,017
1,027
1 428 1 149
862
840
1, 418
829
818
2,217
848
827
2, 870
117
587
32
106
27
85
285
51
500
143
3
449
70
1
444
103
3
324
49
7
287
29
1
434
138
51
201
13
4
282
32
5
373
64
2
.074
.073
.073
.073
.074
.074
.073
.074
.074
.074
631
099
2 623
099
620
099
620
099
.615
100
617
100
618
099
608
099
.614
.613
12, 663
12, 378
10, 476
11,907
9,931
8,196
10, 144
13,857
10, 910
10, 121
13,500
249.9
125.9
283 6
125.6
275 9
149.0
221 5
135 8
281 3
123 8
276.0
127. 6
284.7
126. 0
294.2
123.4
268. 2
139.2
264.2 ' 267. 6 272.5
141.5 ' 128. 9 123.8
254.1
81.9
244.5
97.9
251. 0
87.8
255. 6
84.7
230 3
84.5
255.8
93.0
251.8
81.3
238.2
' 54.6
229.5
'67.6
232.5
92.8
246.5 ' 258. 4
73.0 ••100.5
2, 114. 1
59.9
194.9
65.3
160.5
68.2
171.0
57.9
173.6
59.7
139.4
61 9
176.8
61 4
168.2
57.9
186.6
61.3
176.8
53.3
189.3
59.9
203.3 ' 192. 7 177. 9
64.9
58.8 ' 62. 1
266
257
256
256
256
256
256
256
256
256
256
256
256
566 7
516.1
50.9
577 8
525.1
73.2
51 3
43.9
78.4
50 3
44.9
83.6
57 2
46.3
80.8
49 8
45.0
83.5
41 5
40.4
80.5
44 9
55.4
72.8
43 8
45.1
70.2
42 9
40.3
72.8
45 7
44.4
69.7
46 0
39.7
73.2
46 3
38.6
81. 6
4, 466. 9 4, 753. 0
2, 439. 6 2, 401. 6
447.4
424.6
419.8
205.6
501. 2
393.7
202.1
497.2
403.8
211.1
481.8
419.1
220 4
432.4
364.1
173.6
397.4
405.8
210.8
394.2
373.5
200.7
408.8
387.1
194.4
434.6
395.7
192.2
441.9
.8
5.7
135.5
3.2
6.9
145.5
9.1
6.2
165.9
20.1
6. 6
165.6
21.4
6.0
167.7
21.9
6.6
165.0
13.0
5.7
160.4
9.0
5.7
165.1
(<0
(<0
(<*)
49.0
52.0
145.9
25.8
(<0
53.4
63.5
114.0
24.1
(d)
49.6
69.5
107.8
18.5
(d)
44.5
62.9
107.7
34.2
37.3
54.4
68.4
94. 5
31.4
.072
2,103
778
. 375
167
752
763
738
748
2,891 ' 2, 719 *2, 540
.074
241. 4
79.0
PATS, OILS, AND RELATED PRODUCTS
Animal and fish fats:A
Tallow, edible:
Production (Quantities rendered)
mil Ib
Consumption in end products
do
Stocks, end of period f
do
Tallow and grease (except wool), inedible:
Production (quantities rendered)
do
Consumption in end 'Products
do
Stocks end of period f
do
Fish and marine mammal oils:
Production
do
Consumption in end products
do
Stocks end of period f
do
Vegetable oils and related products:
Coconut oil:
Production" Crude
mil Ib
Refined
do
Consumption in end products
do
Stocks crude and ref end of periodll
do
Imports
do
Corn oil:
Production: Crude
do
Refined
do
Consumption in end products
do
StnrVJrs c.rnHp. n.nrl rpf pnrl nfnArinHf
fin
164.1
72.1
158.5
118.4
73.0
146.3
498.2
565.1
749.1
133.6
i 523. 0
41.3
62.7
187. 7
18.4
45.0
65.0
191.6
20.2
(d)
52.4
68.3
1S4. 3
24.3
446.6
397.6
388.0
53. 5
444. 2
418. 1
421. 5
37.7
40.4
38.8
38.2
44.9
37.7
33.7
31.0
49.5
38.5
34.8
35.1
50.0
358.5
569.6
783.4
' Revised.
» Preliminary.
<* Data withheld to avoid disclosure of operations of individual firms.
1
2
Annual total reflects revisions not distributed to the monthly data.
Beginning July
1967, prices based on 1967 benchmark; 1967 average is for July-Dec, period. July 1967 price on
old basis, $0.631.
' 46. 5
'43.0
••81.5
45.9
44.1
85.0
394.0
188.9
424.6
415.0 ' 381. 9
205.3 ' 189. 9
489.2 ' 439. 5
386.0
208.7
439.3
11.6
5.7
168. 1
5.9
6.2
146. 3
.9
6.0
144.4
'.6
'6.1
' 119. 2
.7
6.2
108.4
35.5
42.7
61.4
100. 5
35.2
34.6
35.5
53.1
133.6
16.2
20.9
18.8
32.3
45.8
48.1
52.2
64.8
62. -1 '56.6
147.5 ' 142. 8 113. 6
59.6
20.3
115.8
38.1
33.9
38.2
3S.9
35.1 '37.6
33.8
40.2
39.1
35.5
36.5
36.4
35.5
33.2
35.1
33.2
32.7
39.7
36.8
35.8
30.6
34.2
35.6
35.7 '36.2
35.7
40.0
30.0
40.1
34.9
40.2
49.2
48.7
45.6
46.8
43.0
41.3
37.7
36.5 '34.1
OCases of 30 dozen.
cfBags of 132.276 Ib.
§ Monthly data reflect cumulative revisions
for prior periods.
9 Includes data not shown separately; see also note " §".
AFor data
on lard, see p. S-28.
©Producers' and warehouse stocks.
KFactory and warehouse
stocks.
SURVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
| 1967
Annual
May 1968
1967
Mar.
Apr.
May
June
July
1968
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
161. 6
168. 1
141.3
170.9
114.1
106. 5
••82.6
99.9
114.8
80.8
328. 2
2.0
322.1
3.6
Apr.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
FATS, OILS, AND RELATED
PRODUCTS- Continued
Vegetable oils and related products— Continued
Cottonseed cake and meal:
Production
thous. sh. tons _
Stocks (at oil mills) , end of perioddo_ _
Cottonseed oil:
Production: Crude
mil. Ib
Refined
_ ._
_do___
Consumption in end products
do
Stocks, crude and refined (factory and warehouse) end of period
mil Ib
Exports (crude and refined)
do
Price wholesale (drums* N Y )
$ per Ib
184.0
148.1
106.8
166.9
63.3
160.9
67.5
157.8
44.2
148.4
65.9
433. 2
49.1
104.9
143.5
121: 6
229.0
137.1
196.8
146.7
198.0
161.8
1, 674. 6 1, 137. 5
1,506.4 1, 050. 8
1, 258. 1
997.0
128.7
122.8
86.9
73.9
108.5
90.5
43.5
87.5
91.9
49.6
72.6
78.3
30.2
42.6
73.4
45.4
47.7
80.6
33.5
32.9
74.7
100.2
55.1
79.4
167.1
111.6
87.4
140.8
123.7
85.1
143.8
136.6
85.7
252.1
!72.1
.154
514.0
8.7
. 158
476.9
25.4
.158
416.7
11.6
.158
364.7
2.0
.160
298.3
••5.0
.150
246.0
2.6
.152
207.0
3.0
.154
198.7
5.6
.150
228. 6
4.7
252.1
3.4
.148
313.7
4.5
.148
454.2
234.7
365.8
213.3
31.3
19.1
30.2
20.2
32.5
22.5
35.4
19.6
7.2
16.9
32.9
18.1
37.8
16.9
35.3
15.6
35.9
13.9
24.3
12.1
27.6
14.6
28.5
••17.9
25.8
16.5
208.4
.128
213.3
.129
206.5
.128
204.7
.128
211.8
.128
199.2
.128
184.1
.128
185.4
.128
187.4
.127
196.6
.132
222.6
.132
213.3
.132
222.7
.132
223.0
218.7
1,107.6 1, 103. 6
122.1
111.7
1,061.7
141.3
1,029.5
102.3
972. 9
109.6
1,191.7 •1,132.6
142.7 «" 158. 5
1,123.5
196.1
510.5
416.3
443.4
381.8
184.0
.178
Linseed oil:
Production, crude (raw)
_ - .mil. lb_
Consumption in end products _
do_ _
Stocks, crude and refined (factory and warehouse) , end of period
mil. Ib
Price wholesale (Minneapolis)
$ per Ib
2
Soybean cake and meal:
Production
thous sh tons 12, 614. 4 13, 065. 1 1,083.7 1, 080. 9
86.3
146.1
177.0
120.0
Stocks (at oil mills) , end of period
do
Soybean oil:
5, 811. 2 6,122.4
502.8
496.8
Production* Crude
mil Ib
387.4
5, 152. 0 5, 072. 8
446.0
Refined
do
404.4
5, 210. 2 5, 207. 5
455.6
Consumption in end products
do
Stocks, crude and refined (factory and ware600.4
655.1
510.9
535.8
house) , end of period
mil. Ib
120.2
41.0
684.8 i 912. 3
Exports (crude and refined)
do
.140
.127
.120
.128
Price wholesale (refined' N Y )
$ per Ib
TOBACCO
Leaf:
Production (crop estimate)
mil Ib
Stocks, dealers' and manufacturers' end of period
mil Ib
Exports incl scrap and stems
thous. Ib
Imports incl. scrap and stems
do
Manufactured:
Consumption (withdrawals) :
Cigarettes (small):
Tax-exempt
Taxable
Cigars (large), taxable
Exports cigarettes
T
r
1, 570. 6
146.7
2,381.4
94.2
3
1 888
3
1,136.9 1, 180. 1 1,128.3
151.6
177.0
165.5
r
r
530.9
424.8
436.8
527.9
450.3
450.6
512. 3
377.0
373.2
493.4
432.7
443.7
470.2
398.2
450.1
529.3
428.2
448.5
535.3
414.8
436.2
525.7
442.6
432.7
526.2 r 510. 4
«•
429.1
457. 7
457.1 ' 450. 8
633.7
66.5
.127
632.2
591.0
131.0 ••107.4
.122
.114
687.5
43.1
122
595.0
118.0
.115
571.3
79.1
.111
570.1
114.3
.109
655.1
40.1
.110
688.4
30.3
.108
r
695. 0
68.4
697.5
80.9
2, 007
5 486
5,339
5 353
551, 162 571, 559 ••39, 132 ••53,280 '48, 106
179, 336 1197,109 13, 488 15, 305 14, 828
4 880
39, 444
19, 089
31, 425
14, 899
43, 458
19,985
4 995
59, 439
16, 876
50, 656
20, 487
66,834
17, 520
5,486
68,822
13, 892
44, 296
16, 337
44,792
22, 179
5,309
28, 806
20,631
4,321
48, 101
639
1,943
5, 262
48, 123
529
2,396
4,141
41,376
485
2,270
3,495
51, 658
648
1,917
3,894
43, 835
605
1,811
3,870
46, 653
710
1,680
4,148
42, 529
609
1,824
3.902
36, 593
441
2,049
3,485
40, 982
557
1,599
4, 040
46, 362
531
1,940
4,144
41, 839
536
1,490
46, 112
millions
522, 532
do
7,076
do
millions- . 23, 453
48,971
527, 798
••6,846
23,652
4,593
43, 591
••593
2,202
3,972
44, 084
572
2,059
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value total Q
thous $
Calf and kip skins
thous skins
Cattle hides
thous hides
155 623
2,582
14, 307
127 893
2,626
11, 987
13 169
265
1,103
11 300
198
1,154
12 546
264
1,090
8 801
351
757
8 593
174
735
8,640
138
842
8 700
160
912
8 873
221
931
10 783
233
1,131
8 476
217
837
15 701
208
797
9 723
211
983
4 850
177
1,043
88 995
36 998
10,' 331
61 200
36 044
7,109
fi oflft
3 857
576
6 300
4 079
457
5 200
3 846
721
5 400
3 194
'531
5 300
2 925
740
4 100
2,503
558
4 500
2 833
510
4 200
3 460
479
4 400
l'804
488
4 500
3 174
391
6 600
2 330
614
7 900
8 300
4 037
418
601
177
460
120
500
129
450
125
.450
119
450
130
400
125
.400
.110
410
125
430
105
460
108
500
098
500
093
LEATHER
Production:
Calf and whole kip
thous skins
Cattle hide and side kip
thous hides and kips
Q-ogt aind kid
tJhoti5' skin^
Sheep and lamb
do
4,720
23 830
13 372
29, 302
4 008
23 406
8 682
28, 375
349
2 085
841
2,251
379
320
1 895 2 050
*752
'777
2,201 2,459
340
226
1 983 1 461
769
485
1,808
2,402
370
2 059
624
2,778
374
294
1 892 2 102
'757
663
2,607
2,557
378
2 070
781
2,748
341
347
1 977 2 088
641
696
2,399
2,664
340
2 074
539
2,691
Exports:
Upper and lining leather
thous. sq. ft
65 704
71 769
6 192
3,691
5,565
8,933
4,415
5,631
7,260
6,301
6,883
6,520
6,732
7,683
Prices, wholesale, f.o.b. tannery:
Sole, bends, light
index, 1957-59-100
Upper, chrome calf, B and C grades
index 1957 59—100
2 114. 5
97 9
106 0
104.6
101.1
98.2
95.4
95.4
91.2
90.5
90.5
91.2
90.5
105 5
92 8
99 2
98 3
98.3
95 3
88 1
88.1
83 5
84 2
85 8
87 9
86 3
646 897
603 214
53 812
46 30°
48 744
49 024
40 932
58 249
50 545
53 858
51 558
47 881 r56 644
55 670
39 777
8 504
583
160
34 027
6,444
342
118
47 314
10, 121
611
203
40 356
9*445
555
189
43 175
9,882
618
183
41 345
9,428
608
177
40 696 r 47 689
6,418 r 8, 186
576
••602
167
191
46 451
8^443
595
181
191
162
207
212
179
207
167
144
178
Imports:
Goat and kid skins
do
Prices, wholesale, f.o.b. shipping point:
Calfskins packer heavy 9/4/15 Ib
$ per Ib
LEATHER MANUFACTURES
Shoes and slippers:
Production total
thous pairs
Shoes, sandals, and play shoes, except athletic!
Slippers t
Athletic
Other footwear
Exports
do
do
do
do
Prices, wholesale, f.o.b. factory:
Men's and boys' oxfords, dress, elk or side
upper Goody ear welt
index 1957 59 — 100
Women's oxfords, elk side upper, Goodyear
welt
index 1957 59—100
"W omen's pumps low-medium Quality do
r
1
2
263
948
841
161
44 665
8 351
634
162
38 466
7*088
585
163
39 552
8,364
613
215
2 737
2 217
237
164
162
120 9
122 9
123 5
121 5
121 5
121 5
121 5
121 5
122 0
194 5
124 5
125 7
113 1
125 8
111 4
P4 7
113 7
124 7
113 7
124 4
113 7
125 2
113 7
124 9
113 7
123 9
113 7
125 5
113 7
199 5
113 7
129 6
113 7
129 9
113 7
133 1
536
100
6
2
583
633
576
838
497
96
6
2
Revised.
Annual total reflects revisions not distributed to the monthly data.
3
Average for 11 months.
Crop estimate for the year.
7,417
125 7
111 0
121 2
3 413
734
244
9 Includes data for items not shown separately.
{Revisions for 1966 (thous. pairs): Shoes, sanials, etc., June, 44,962; July, 38,471; Oct.,
43,372; slippers, June, 8,901; July, 6,560; Oct., 10,665.
SURVEY OF CURRENT BUSINESS
May 1968
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
I960
| 1967
Annual
S-31
1967
Mar.
Apr.
May
June
July
1968
Aug.
Sept,
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
LUMBER AND PRODUCTS
LUMBER— ALL TYPES
National Forest Products Association:
Production total
mil bd. ft
Hardwoods
do
Softwoods
_
_ _ _ _ _ _ _ _ ___do __Shipments, total
Hardwoods
Softwoods
_
_
_ _
_.do _
__ __ __ _do __
do
Stocks (gross) , mill, end of period, total
do _ _ _
Hard woods
do
Softwoods
_ _
__do _ _
2
34, 595
7, 185
27, 410
3,161
610
2,551
2,900
648
2,252
3,039
628
2,411
2,976
621
2,355
2,654
578
2,076
3,124
594
2,530
2,970
605
2,365
3,066
613
2,453
2,864
564
2,300
2,549
513
2, 036
2,539
316
2,223
2,829
492
2, 337
3 104
547
2,557
36, 662 2 234, 948
8,075
7, 356
28, 587 2 27, 592
3,112
678
2,434
2,954
623
2,331
2,987
571
2, 416
2,961
563
2,398
2,773
529
2,244
3,137
581
2,556
3,043
613
2,430
3,025
605
2,420
2,853
611
2,242
2,700
603
2, 097
2,655
544
2, 111
2,959
620
2,339
3,201
664
2,537
36,433
7,563
28,870
2
2
5,747
1,080
4,667
5,810
1,391
4,419
5,931
1,127
4,804
5,935
1,186
4,749
5,968
1,215
4,753
6,013
1,300
4,713
5,909
1,374
4,535
5,902
1,399
4,503
5,857
1,414
4,443
5,872
1,441
4,431
5,907
1,426
4,481
5,810
1,391
4,419
5,812
1, 346
4,466
5,715
1,265
4,450
5,663
1,195
4, 468
1,112
4,987
87
502
95
419
98
432
131
496
89
418
100
598
90
431
103
415
82
380
95
256
100
407
108
418
107
407
Exports total sawmill products
Imports, total sawmill products
_ _do
__ __do__ _
1,009
5,120
SOFTWOODS
Douglas fir:
Orders new
Orders, unfilled, end of period
mil bd ft
do
8,480
486
2
7, 934
580
668
600
657
589
677
562
704
567
644
606
708
597
595
528
624
502
660
505
693
580
681
621
782
726
756
756
do
do
do _ _
8,601
8,615
1,040
2
2
7, 864
7, 840
1,006
739
670
1,170
670
668
1, 185
729
704
1,210
656
699
1,167
539
605
1,084
716
716
1,084
634
665
1,053
683
649
1,045
662
658
1,049
574
618
1,006
700
640
1,018
705
677
1,045
740
726
1,060
Exports, total sawmill products, __ _
do
Sawed timber
do
Boards, planks, scantlings, etc
do
Prices, wholesale:
Dimension, construction, dried, 2" x 4", R. L.
SperMbd. ft__
Flooring, C and better, F. G., 1" x 4", R. L.
$ p e r M b d . ft__
401
110
290
388
113
275
31
9
22
35
10
25
37
9
28
48
18
30
27
7
21
30
4
26
32
11
21
32
9
23
24
9
15
32
10
22
36
9
27
32
9
23
39
14
25
Production
Shipments
_
Stocks (gross), mill, end of period
_
85.62
85.54
84.06
82.96
82. 40
83.24
82.82
86.09
90.71
89.63
89.20
90.43
95.75
165.87
169. 99
171. 47
171. 47
172.63
172.05
170. 86
170.86
169.30
168.63
167. 96
165. 24
165.24
mil bd ft
__ do ....
6 419
274
6 717
307
582
294
540
291
566
292
575
294
519
283
637
316
589
315
599
294
572
277
527
307
577
328
637
356
651
358
Production.., __ __ __
do
Shipments
do
Stocks (gross) , mill and concentration yards, end
of period
mil bd ft
Exports, total sawmill products
M bd. ft__
Prices, wholesale, (indexes):
<
Boards, No. 2 and better, 1" x 6", R. L.
1957-59=100
Flooring, B and better, F. G., I" x 4", S. L.
1957-59=100
6, 654
6,511
6,751
6,684
605
598
526
543
588
565
583
573
517
530
586
604
584
590
592
620
610
589
536
497
574
556
579
609
633
649
1 230
99,202
1,297
87,436
1,286
8,329
1,269
6,425
1, 292
8,502
1,302
7,026
1,289
5,989
1, 271
6,496
1,265
6,220
1,237
8,795
1,258
8,817
1,297
7,229
1 315
8,674
1 285
6,965
1 269
7,428
Southern pine:
Orders new
Orders, unfilled, endlot period
Western pine:
Orders new
Orders , unfilled , end of period
mil. bd. ft
_ _ _ do _ _ _
Production
do
Shipments
_ _ _ _ _ _ _ __
do
Stocks (gross) , mill, end of period
_do__ _
Price, wholesale, Ponderosa, boards, No. 3, I" x
12", R. L. (6' and over)
$ per M bd. ft _
105.1
103.4
101.6
101.4
102.2
103.1
103.6
103.7
105.0
105.2
106.5
107.0
108.9
106.2
106.0
105.8
105.8
105.1
105.1
105.2
105.6
106.4
106.7
107.2
107.4
108 7
10, 295
'427
2
10, 375
557
904
503
871
511
884
507
845
495
920
525
955
510
898
479
904
484
793
504
835
557
756
607
869
659
880
641
10, 337
10, 403
1,666
2
2
10, 023
10, 245
1,445
947
902
1,609
820
863
1,566
847
888
1,526
862
857
1,531
824
890
1,465
973
970
1,468
911
929
1,450
923
899
1,474
795
773
1,496
731
782
1, 445
714
706
1,453
801
817
1,437
920
897
1,460
69.39
71. 95
69.55
73.32
74.16
73.87
73.83
73.12
73.18
74.39
73.73
71.94
70.78
31.2
16.3
25.1
26.7
1.8
26.1
15.4
28.4
26.5
4.4
3.0
17.5
2.2
2.1
2.2
3.1
18.0
2.1
2.2
2.2
2.3
17.2
2.5
2.4
2.3
2.6
17.4
2.4
2.4
2.3
2.2
17.4
24
2.0
2.5
2.2
17.0
2.9
2.9
2.9
1.2
16.4
2.5
2.1
3.3
2.1
16.6
2.4
2.5
3.0
1.8
15.8
27
2.4
3.5
1.7
15.4
2.5
1.8
4.4
1.7
15 2
2 7
2.1
5.0
2.0
14 9
2 3
1.7
5.8
1.6
15.1
24
1.5
6.7
618.1
26.0
685.6
654.4
58.3
547.0
20.1
551.2
552.2
57.9
61.1
39.4
51.6
53.4
53.9
39.4
34.8
46.4
44.0
55.9
43.1
31.8
49.9
46.5
60.3
45.3
28.4
47.2
47.9
61.4
42.2
28.7
38.6
41.9
58.0
61.1
33.8
52.0
56.1
54.0
43.2
28.0
47.4
49.0
52.3
41.1
23.9
49.3
45.8
54.7
40.0
21.9
45.4
42.1
58.1
36.1
20.1
37.1
37.3
57.9
42.0
20.5
41.1
40.6
58.4
50.3
26.4
40.3
43.1
53.9
44.6
27.3
41.1
43.7
51.3
HARDWOOD FLOORING
Maple, beech, and birch:
Orders, new.. _ _ _ _
__ _ _ mil. bd. ft _
Orders, unfilled, end of perioddo
Production
do-.
Shipments._do__ _
Stocks (gross), mill, end of period. _ _ _ _ _do
Oak:
Orders, n e w
_ _ _ _ _ _ do
Orders, unfilled, end of period
do
Production
do _
Shipments _ _ _ _ _
d o
Stocks (gross), mill, end of period
.._ —do
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
thous. sh. tons
Scrap
_ _ _ _ _ _
d o
Pig iron
do
Imports:
Steel mill products
Scrap _ _
_
Pig iron
do
do
do
1,724
5,857
12
1 685
7,635
7
162
776
(i)
160
641
1
137
805
1
122
811
(i)
103
716
(i)
118
657
5
106
779
(i)
129
610
(i)
128
451
(i)
127
353
(i)
141
485
(i)
104
355
1
110
527
1
10 753
464
1 252
11 455
286
2
631
882
24
37
828
16
41
1 030
26
63
963
27
41
965
22
49
985
22
62
956
29
22
999
21
57
1,308
28
71
1, 013
28
78
1,102
34
14
1, 058
26
14
1,241
27
64
55, 463
36, 606
91 584
8 193
52, 312
36, 686
85, 360
93, 998
2,909
7 492
7,826
4, e^o
4 323
3 150
7 062
7 835
4,451
3,259
7 290
7,770
4,198
3,119
6 784
7,854
3,803
2,674
6 058
7,861
4,351
3,058
7 009
7,871
4 293
3,070
6 937
7,840
4 488
3,238
7 397
7 709
4,587
3,416
7 481
7,739
4,600
3,629
7, 692
7,793
27.23
26.00
27 18
26.00
27.59
27.00
28.28
27.00
26.55
26.00
27.48
27.50
28*65
30.00
Iron and Steel Scrap
Production
thous. sh. tons
Receipts.
do
Consumption
do
Stocks, consumers', end of period
do
Prices, steel scrap, No. 1 heavy melting:
Composite (5 markets)
$ per Ig ton
26.79
29.95 3 27. 51
28 53
26 98
Pittsburgh district
do.
26.00
31.00
27.00
26.50
27.00
r
2
Revised.
*» Preliminary.
i Less than 500 tons.
Annual total reflects revisions
3
not distributed to the monthly data.
For Feb.-Dec. 1967.
30.07
33.00
Apr.
SURVEY OF CURRENT BUSINESS
S-32
1966
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1967
Mar.
Annual
May 1968
Apr.
May
July
June
1968
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
METALS AND MANUFACTURES—Continued
IRON AND STEEL— Continued
Ore
Iron ore (operations in all U.S. districts):
Miine production
thous Ig tons
Shipments from mines
do
Imports
do
90 704
90 583
46, 259
84 196
83 359
i 44, 627
5,049
1, 778
1,712
6,277
5,494
2,629
9,039
11,119
4,582
9,419
10, 998
5,273
9, 526
11, 373
4,204
9,697
10, 631
5,377
8,875
9,816
3,500
7,367
8,714
4,946
4 766
6 502
4,377
4 831
3,293
3,328
5 289
2,009
2,390
5 182
2 035
1 725
2,031
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
do
Consumption at iron and steel plants
do
Exports
do
128, 225
127 694
7,779
119, 435
118 982
5,944
3,753
10, 479
6,988
9 816
14, 349
10 015
15, 240
8,853
15, 037
9,222
14, 373
9,456
12, 627
9,562
12, 631
10, 307
10, 651
10 479
6,995
11, 220
3,693
11, 251
3 674
10 746
3,920
11, 562
321
385
69, 431
12, 066
54, 658
2 707
71 116
13, 008
55, 121
2 987
62
19
40
2
143
435
455
253
32, 813
1,703
1 293
Stocks total end of period
At mines
A t furnace yards
_
At U S docks
do
do
- d o
do
Manganese (mn content) general imports
do
346
736
626
585
59, 349
21, 908
35, 138
2,303
57,141
22, 515
32, 311
2,315
59,242
20, 435
36, 645
2,162
64, 069
18, 856
43, 032
2,181
1 086
112
60
61
86, 976
87, 371
7,587
7, 555
7,215
7,117
2 842
3,066
62.70
63 00
63.50
62.70
63.00
63.50
337
524
68, 203
17, 042
48, 847
2,314
72, 375
16, 103
53.764
2,508
74, 727
15, 162
56, 829
2,736
85
60
69
7,321
7,288
6,639
6,605
6,696
6,678
3, 161
3,224
3,299
62.70
63.00
63.50
62.70
63.00
63.50
62.70
63.00
63.50
896
882
1,256
739
674
417
342
346
75, 903
13, 815
59, 153
2,935
73, 804
11, 470
59, 325
3,009
71, 116
13, 008
55, 121
2,987
66, 532
16, 288
47, 527
2,717
121
66
96
97
108
87
116
6,951
7,102
7.055
7,198
7,530
7,631
7,626
7,757
8,182
8,231
8,097
7 841
8,476
3,354
3,204
3, 068
2,960
2 836
2,842
62.70
63.00
63.50
62.70
63.00
63. 5C
62.70
63.00
63. 50
62.70
63.00
63.50
62.70
63.00
63.50
62.70
63.00
63.50
62.70
63.00
63.50
62.70
62. 70
Pig Iron and Iron Products
Pig iron:
Production (excluding production of ferroalloys)
i 91, 500
thous sh. tons
Consumption
do
91, 770
Stocks (consumers' and suppliers'), end of period
2,962
thous sh. tons
Prices:
62.74
Composite
$ per Ig. ton-Basic (furnace)
do
63.00
Foundry, No. 2, Northern
_ _
do
63.50
Castings, gray iron:
Orders, unfilled, for sale, end of period
962
thous sh. tons
15, 716
Shipments, total
do
8,927
For sale
do
Castings, malleable iron:
Orders, unfilled, for sale, end of period
182
thous sh . tons
Shipments, total
do
1,133
688
For sale— _
__ _
do
1
913
927
896
919
896
897
909
1,169
1,235
698
709
934
581
1,240
653
747
703
140
95
60
134
81
48
133
93
55
131
88
53
132
64
41
137
85
51
132
89
51
127,213
131 0
10, 963
132.9
10, 349
129.6
10, 577
128.2
9,576
119.9
9,620
116.6
10,300
124.8
293
454
189
159
404
162
136
373
165
139
342
168
142
328
124
105
89, 995 i 83, 897
14 329
8 128
1,246
120
1 040
615
675
1,180
1,262
742
850
1 262
913
912
1,212
' 1, 186
62.70
978
1 285
716
662
122
95
49
120
89
51
120
86
47
121
91
53
10,438
130.7
11, 171
135. 4
11,299
141.5
11,953
144.9
12,015
145.6
317
138
113
319
138
116
303
143
118
300
145
119
293
150
125
336
159
127
QIC'
650
694
122
84
42
Steel, Raw and Semifinished
Steel (raw):
Production
thous. sh. tons__ i 134,101
Index
_ daily average 1957-59=100
138.1
Steel castings:
Orders, unfilled, for sale, end of period
590
thous sh tons
2,155
Shipments, total
do
1,792
For sale, total _
do
1 857
1 554
11, 795 r 12,721 "12, 436
152 8 ' 154. 2 *>155 8
154
125
Steel Mill Products
Steel products, net shipments:
Total (all grades)
Byproduct:
Semifinished products
Structural shapes (heavy), steel piling
Plates
Rails and accessories
7,562
6,763
7,247
7,029
6,221
7,169
6,700
7,181
7,310
7,003
7,758
7, 901
8, 752
do
do
do
do
3,806
6,764
9,103
1 776
4,061
6,133
7,948
1,434
403
591
784
169
326
536
665
154
316
538
667
147
291
481
660
125
264
448
574
95
327
492
645
98
329
494
597
78
363
511
640
94
371
518
691
88
376
493
680
109
380
495
759
127
380
525
752
139
422
562
843
143
Bars and tool steel, total
Bars* Hot rolled (incl light shapes)
Reinforcing
Cold
finished
Pipe and tubing
Wire and wire products
Tin mill products
Sheets and strip (incl. electrical) , total
Sheets* Hot rolled
Cold rolled
do
do
do
do
do
do
do
do
do
do
14, 523
9,126
3,276
1,999
9,233
3,495
5 828
35, 468
10, 137
15, 972
13, 053
7,961
3,249
1,733
8,969
3,133
6,591
32, 574
9,312
14,709
1,212
1,069
1,106
1,093
637
297
149
908
280
601
958
560
278
113
736
229
541
1, 124
1,024
1,108
1 136
1,044
1,138
1,155
1,296
757
228
161
851
282
509
857
259
170
957
314
582
2,772
2,432
2,737
2,590
2,377
2,790
2,508
2,924
3,196
2,986
3,290
3,307
1,208
1,085
1, 238
1,111
1,067
1,267
1,121
1,301
1,508
1.435
1,573
1,587
3,633
1,049
1,681
16, 400 i 14, 863
11, 862 i 11, 375
1
4 969 i 4, 582
1
17, 984 i 16, 488
3,842
2,650
1 089
3,928
By market:
Service centers and distributors
Construction, incl. maintenance
Contractors' products
Automotive
Rail transportation
Machinery industrial equip tools
Containers packaging ship materials
Other
do
do
do
do
do
do
do
do
do
1
1
1
4 332 i 3, 225
5, 747 i 4, 994
1
7, 255
6 597
1
22, 104 i 21, 115
Steel mill products, inventories, end of period:
Consumers' (manufacturers only) mil sh tons
Receipts during period
do
Consumption during period
do
Service centers (warehouses)
do
Producing mills:
In process (ingots semifinished etc )
do
Finished (sheets plates bars pipe etc ) do
. Steel (carbon),finished,composite price. . .$ per lb_.
T
1
Revised.
p Preliminary.
Revised total; monthly revisions are not available.
1
1
1
9.1
755
268
177
705
288
638
794
650
267
143
722
270
589
686
662
279
156
897
275
564
796
773
695
663
312
142
820
276
596
793
3,706
3,161
1 197
3,793
995
899
10 1
65.1
67.9
9.9
5.4
5.5
9 4
62.5
63.5
4.9
5.4
9.0
5.3
5.7
87
5 4
5 g
53
57
56
98
9 2
12.5
9 6
10.0
9 3
10 5
91
.0842
.0850
.0848
.0848
726
650
311
137
710
270
560
841
702
281
144
725
253
333
885
2
2
1, 285
2908
2
374
1, 787
2
2
1, 328
2
998
2
391
1, 857
2
2
2
529
578
1, 925
10.1
'6.0
'5.5
294
566
653
2, 114
2
2
2
2
1,486
1, 146
2
463
2, 032
2
2
297
2
2
283
2
2
523
1,275
646
1 517
5,470 2 1, 952
1 103
1 956
4,885
971
947
823
702
634
749
218
161
730
267
573
672
236
128
662
225
427
3 864
2, 722
1 168
4 774
3,475
2,876
1 133
4 029
1,221
1 952
5,109
1,357
1 829
5,677
617
288
112
718
267
685
2
10.5
4.5
4.1
9.1
5.3
5.3
8.8
5.4
9.1
5.7
5.4
9 2
5. 1
5.7
5.6
9.1
5.4
5.5
5 3
52
5 4
5 3
52
53
5 6
55
5 6
10.7
9 0
10.4
8 7
10 8
8 7
10.7
87
11.1
88
11.6
88
11.8
91
12.5
9 6
12.3
10 1
12.0
10 4
11.6
10.5
.0848
.0848
.0848
.0848
.0852
.0854
.0855
.0860
.0864
.0865
.0865
5.1
5.4
2
91
For month shown.
9.6
6.1
5.6
r
6.1
5.7
.0865
SUBVEY OF CUERENT BUSINESS
May 1 6
98
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
1968
1967
1967
Annual
S-33
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. sh. tons-_
Recovery from scrap (aluminum content) do
Imports (general):
Metal and alloys crude
Plates, sheets, etc
Exports metal and alloys crude
2,968.4 3,269.3
783.0
808.0
274.4
72.0
268.4
67.0
278.9
65.0
270.1
63.0
277. 0
58.0
277.6
64,0
270.4
65.0
283.8
65.0
277.2
69.0
282.7
66.0
285.3
521. 8
119.1
188.2
450.5
56.3
209. 0
41.1
6.8
24.0
44.5
5.3
21.9
39.0
4.5
19.6
37.9
4.7
18.3
26.4
3.6
20.3
30.7
3.4
12.3
43.0
3.1
12.8
35.3
3.1
11.0
37.7
4.2
12.4
45.7
3.4
11.1
54.6
4.7
13.3
44.7
4.1
13.7
89.6
4. 4
12. 3
74.8
. 2450
208.0
.2498
69.8
.2500
83.1
.2500
93.3
.2500
109.8
. 2500
142.0
.2500
170.6
.2500
187.6
. 2500
204.9
.2500
216.1
.2500
208.0
.2500
213.0
.2500
.2500
. 2500
8, 856. 5
6, 365. 9
2, 868. 1
1, 534. 7
767. 7
559.8
241.8
136.4
730.4
524.2
243.3
128.4
752.1
565.7
242.5
135.8
751.0
549. 2
254.2
133.3
658.3
486.9
216.9
98.6
743.3
527.4
227.5
133,6
745.8
534.3
243.1
115.2
760.8
560.6
255.5
121.6
730.6
539.2
245.0
130.1
749.2
507.4
234.2
127.9
841.9
561.8
265.0
137. 0
139.4
132.9
151.8
124.9
26.9
41.0
131.9
138.3
114.9
23.4
42.3
130.4
160. 0
129. 8
30.2
42.7
127. 0
161.9
130.0
31.9
43.2
66.5
88.8
70.3
18.6
27.9
31.7
42.9
27.3
15.6
20.5
22.4
30.0
8.3
21.7
22.8
23.5
37.8
4.5
33.2
29.6
21.8
16.0
21.5
18.1
22.9
17. 7
'28.0
16.1
41.0
29. 2
27.4
23.3
21.2
24.9
37.8
do
do
do
Stocks, primary (at reduction plants), end of
period
thous sh tons
Price, primary ingot, 99.5% minimum.__$ per lb_.
Aluminum shipments:
Ingot and mill products (net)
Mill products, total
Plate and sheet (excluding foil)
Castings^
mil Ib
do
do
do
'8,797.6
'6,457.5
'2,936.7
1,633.7
Copper:
Production:
949.8
Mine, recoverable copper
thous. sh. tons__ 1,429.2
Refinery, primary
do
1,711.0 1,133.0
846.6
From domestic ores
do
1,353.1
286.4
From foreign ores
do
357.9
394.5
472.0
Secondary, recovered as refined
do
Imports (general) :
Refined, unrefined, scrap (copper cont. )__do
Refined
do
Exports:
Refined and scrap
do
Refined _ _
do
596.7
162. 7
644.1
328.3
42.6
13.3
45.4
21.3
55.2
18.2
59.3
22.5
39.9
18.2
36.6
17.9
57.8
26.9
61.4
45.0
79.9
58.1
64.4
47.5
99.5
78.3
86.3
74.1
88.4
74.3
334.7
273.1
241.8
159.4
32.7
24.9
27.7
21.5
20.6
16. 0
32.9
28,7
24.2
18.3
11.3
4.3
12.5
4.9
12.1
4.2
13.3
2.9
10.4
2.0
9.4
2.5
12.6
1.1
17.2
2.2
Consumption, refined (by mills, etc )
do
2,382.0 1, 948. 2
Stocks, refined, end of period
do
240.0 ' 169. 5
Fabricators'
do
174.0 ' 114. 1
.3617 5.3823
Price, bars, electrolytic (N.Y.).
___$perlb__
217.9
242.3
177.5
. 3808
187.0
240.8
193.6
. 3817
191.7
270.7
205. 6
. 3812
192.2
289.6
223.6
.3808
102.2
318.4
247.8
. 3830
142.5
279.2
210.3
.3909
133.5
238.1
172. 5
134.9
204.4
139.5
122.6
185. 1
124.1
121.4 p 109. 8
169.5 p 169. 5
114.1 P 107. 6
P96.4
P 159. 2
p 100. 9
P107. 8
P167. 4
P 98.8
.2500
Copper-base mill and foundry products, shipments
(quarterly total) :
Copper mill (brass mill) products
mil. Ib
Copper wire mill products (copper cont.)___do
Brass and bronze foundry products
do
3,326
2,494
1, 007
2,595
2,356
966
745
639
241
Lead: A
Production:
Mine, recoverable lead
thous. sh. tons__
Recovered from scrap (lead cont.)_
.. _do
327.4
i 572. 8
311.1
545. 3
30.1
48.0
•29. 5
43.3
31.9
45.5
27.8
40.9
24.4
39.2
24.6
48.7
23.3
46.9
24.3
48.6
21.9
50.1
21.9
46.6
'22.4
47.3
21.8
49.6
431.3
488.4
'1,323. 9 1,240.2
46.6
110.9
36.2
104.9
34.6
108.8
54.0
103.8
38.2
85.4
43.6
102.6
30.3
100.9
41.2
109.8
42.5
104.5
33.6
104.6
43.9
108.8
39.3
105.1
.4219
Imports (general), ore (lead cont.), metal—do
Consumption, total
do
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content), ABMS
thous. sh. tons__
Refmers' (primary), refined and antimonial
(lead content)
thous. sh. tons...
Consumers' (lead content) d"
do
Scrap (lead-base, purchased), all smelters
(gross weight)
thous. sh. tons
Price, common grade (N.Y.)
$ perlb__
Tin:A
Imports- (for consumption) :
Ore (tin content)
Bars, pigs, etc
_
Recovery from scrap, total (tin cont.)
As metal.
_
Consumption, pig, total___
Primary
_
lg. tons__
do
do
do
do
do
Consumption (recoverable zinc content):
Ores
Scrap, all types
do
do
160.2
154.8
154.7
159.1
158.8
165.0
171. 2
169.8
173.4
168.8
160.2
166. 1
158. 8
23.4
90. 3
23.6
100.7
29.5
98.6
32.2
97.3
33.7
93.5
31.6
105.3
31.5
114.2
28.2
112.8
22.7
108.5
19.5
106.0
19.1
102.0
23.6
100.7
17.2
88.1
14.0
86.1
52. 8
.1512
53.6
.1400
46.3
.1400
49.3
.1400
50.4
.1400
50.8
.1400
51.3
.1400
49.9
.1400
46.8
.1400
47.9
.1400
48.2
.1400
53.6
.1400
57.5
. 1400
58.2
.1400
.1400
2 4, 372
3, 255
41, 624 49,924
25, 318 21, 475
3,315
3,380
85, 486 1 78, 585
60,209 157,310
122
4,268
1,940
260
7,260
5,275
32
5,350
1,885
270
6,685
4,740
179
3,933
1,955
270
7, 570
5,350
0
3,328
2,010
280
7,065
5,125
0
4,359
1,620
320
5, 995
4,370
0
3,302
1,775
275
6,220
4,690
964
4,305
1,530
305
6,025
4,530
1,013
4,416
1,615
295
6,150
4,545
68
5,343
1,665
285
6,165
4,485
467
4,775
1,625
290
6,265
4,655
0
5,473
1,720
275
7,010
5,160
784
5,145
49
3,895
2,509
18, 670
1. 5340
235
20, 500
1. 5371
209
20, 825
1. 5333
257
20,265
1. 5311
165
20, 560
1. 5494
65
20,975
1. 5439
240
19, 855
1. 5250
39
18, 607
1. 5101
30
19,250
1. 5199
75
17, 590
1. 5501
36
18, 670
1. 5259
190
17, 965
1. 4788
303
17, 515
1. 4563
572.6
546.4
50.7
49.4
50.3
48.2
44.6
48.7
43.2
42.1
41.3
41.1
'42.8
42. 3
521.3
277. 4
534. 1
221. 4
48.6
26.9
46.8
14.9
56.9
15.4
64.0
17.0
45.2
18.3
37.6
20.6
28.3
16.1
29.8
11.9
44.8
23.0
32.8
19.0
50.3
29.3
33.7
30.8
i 126. 7
i 269. 6
106. 1
223.1
10.2
19.2
9.3
18.8
8.8
19.0
8.0
18.5
7.6
17.7
8.6
18.4
8.3
18.2
8.6
18.6
10.0
18.6
8.9
18.1
10.4
20.1
8.8
18.9
83.0
4.9
99.8
10.6
73.8
4.8
83.7
4.3
70.2
5.1
102.9
1.1
68.3
5.8
99.5
.1
65.6
7.0
108.6
.1
68.5
6.5
106.5
71.6
6.0
100.7
.1
69.6
6.1
112.2
.6
64.3
6.0
104.0
5.7
4
Slab zinc:
Production (primary smelter), from domestic
87.6
86.0
and foreign ores
thous sh tons
89.2
1,038.1
943.0
5.4
Secondary (redistilled) production
do
5.4
5.7
72.4
67.7
97.3
Consumption, fabricators'
.
_ _ do
100.4
1, 410. 2 1,217.8
105.8
3
Exports. _
_
do
1.4
.1
.3
16.8
()
Stocks, end of period:
4
Producers', at smelter (AZI)O
do
64. 8
103.7
113.4
87.9
84.3
103 7
Consumers'
do
108.5
97.3
129.5
97.3
Price, Prime Western (East St. Louis j.$ per lb. . .1450
.1450
,1356
.1450
.1384
' Revised.
» Preliminary.
1 Revised total; monthly revisions> are no t availa ble.
:
2 Total fcr 11 months.
3 Less than 50 tons.
* Reported yearend stocks. S ee BUSIN ESS
STATISTICS note. 5 Jan.-Aug. average.
^Effective 1966, estimates are derived from a new s ample an d are not directly compartible
with earlier data; see note in Feb. 1967 SURVEY.
43.8
142.2
4
Exports, incl. reexports (metal)
do
3,069
Stocks, pig (industrial) , end of period
do
22,687
Price, pig, Straits (N.Y.), prompt...., __$ per lb__ 1.6402
Zinc:A
Mine production, recoverable zinc
thous. sh. tons_.
Imports (general) :
Ores (zinc content)
do
Metal (slab, blocks)
do
596
579
244
605
529
232
649
609
249
(3)
A
.1400
6,775
4,965
969
1. 4562
1.4521
47.8
35.8
6.3
66.4
73.4
62.9
64.8
105.6
117.9
116.7
94.5
109.3
89.0
84.3
90.9
97.4 '93.7
95.0
101.2
93.0
96.0
89.2
88.7
.1350
. 1350 . 1350
.1350
.1355
.1350
. 1350
.1350
.1350
. 1350 .1350
AD ata reflec,t sales fr om the (jrovemm ent stock pile,
cfC onsumer s' and secondary smelters lead stc cks in r efinery s hapes an d in copper-base
scrap.
OP reducers stocks eIsewhere , end of iipr. 1968 7,200 to us.
SURVEY OF CURRENT BUSINESS
S-34
1966
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
May 1968
1967
1967
Annual
Mar.
Apr.
May
June
July
1968
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
METALS AND MANUFACTURES—Continued
HEATING EQUIPMENT, EXC. ELECTRIC
Radiators and con vectors, shipments:
19.7
6.9
Cast-iron
mil. sq. ft. radiation
290.4
84.4
Nonferrous
do
Oil burners:
625.2
i 3559. 5
Shipments
thous
44.1
27.3
Stocks end of period
do
Ranges, gas, domestic cooking (incl. free-standing,
set-in, high-oven ranges, and built-in oven
broilers) shipments
thous 12,135.6 2, 132. 7
234.1
194.3
Top burner sections (4-burnerequiv.), ship do
.6
5.9
.5
5.7
.7
6.9
.4
5.6
.5
8.8
.8
9.6
.7
9.8
.6
8.0
.5
6.4
.5
8.0
.6
7.3
46.6
39.1
30,3
43.3
46.2
40.4
55.6
42.4
35.7
42.6
69.2
44.0
71.5
36.8
74.9
29.7
61.9
28.9
46.5
27.3
"47.1
'32.4
51.5
30.2
206.9
16.1
161.3
13.6
182.4
15.9
194.5
18.6
133.5
13.8
185.4
18.4
197.6
21.2
195.5
18.9
191.8
17.5
181.9
14.5
'164.8
13.8
74.3
49.4
69.6
44.7
98.5
68.2
101.2
81.8
115.7
85.2
157.1
113.4
190.7
134.7
188.0
136.4
120.1
92.7
67.5
44.7
'76.4
'44.5
60.3
33.0
94.0
73.6
229.0
1 1, 482. 3 1, 313. 0
Stoves domestic heating shipments total
do
928.9
1, 033. 8
Gas
do
Warm-air furnaces (forced-air and gravity air-flow),
1, 525. 1 1, 404. 0
shipments total
thous
i 1, 211. 3 1, 082. 7
Gas
do
2, 488. 9 '2,602.3
Water heaters gas shipments
do
.3
5.8
90.1
72.8
224.6
98.7
78.7
199.2
107.0
81.3
203.3
113.1
89.2
176.1
144.7
108.5
225.5
172.5
126.6
214.7
168.9
126.7
233.3
126.8
96.9
197.1
113.2
93.5
240.8
' 108. 3
88.7
'252.3
108.0
89.1
235.4
MACHINERY AND EQUIPMENT
Foundry
equipment (new), new orders, net
mo avg shipments 1957-59—100
Furnaces (industrial) and ovens, etc., new orders
(domestic) net
mil $
Electric processing
do
Fuel-fired (exc for hot rolling steel)
do
Material handling equipment (industrial) :
Orders (new) index seas adiH
1957 59 — 100
Industrial trucks (electric), shipments:
Hand (motorized)
number
Rider-type
do
Industrial trucks and tractors (internal combustion
engines) shipments
number
Machine tools:
Metal cutting type tools :t
Orders new (net), total
Domestic
Shipments, total
Domestic
Order backlog end of period
Metal forming type tools :t
O rders, new (net) , total
Domestic
Shipments, total
Domestic
Order backlog, end of period
mil $
do
do
do
do
do
do
do
do
do
Other machinery and equip., qtrly. shipments:
Construction machinery (selected types), total 9
mil $
Tractors tracklaying total
do
Tractors wheel (con off-highway)
do
Tractor shovel loaders (integral units only),
wheel and tracklaying types
mil $
Tractors, wheel (excl. garden and contractors'
off-highway types)
mil $
Farm machines and equipment (selected types),
excl tractors
mil $
ELECTRICAL EQUIPMENT
Batteries (auto, replacement) shipments thous
Household electrical appliances:
Ranges, incl. built-ins, shipments (manufacturers'), domestic and export
thous
Refrigerators and home freezers, output
1957-59—100
Vacuum cleaners, sales billed
thous
Washers, sales (dom. and export) J
do
Driers (gas and electric), sales (domestic and
export)
thous__
Radlo sets, production©
.
do
Television sets (incl. combination), prod.O.-do
Electron tubes and semiconductors (excl. receiving,
power, and spec, purpose tubes), sales
mil. $
Motors and generators:
New orders, index, qtrly
1947-49—100
New orders (gross) :
Polyphase induction motors, 1-200 hp
mil. $
D.C. motors and generators 1-200 hp
do
279.9
300.5
320.6
523.5
255.0
323.9
213.1
207.0
319.8
536.0
210.2
284.9
270.1
275.2
380.5
179.3
23.9
95.9
140.7
U2.3
171.6
13.4
1.4
8.3
10.6
1.0
5.8
9.7
1.8
4.0
14.1
1.2
8.4
10.9
1.0
7.1
14.3
.5
9.8
10.7
.5
3.6
5.5
1.1
1.8
10.3
1.3
6.3
11.0
.5
7.1
10.2
.8
7.1
12.7
.7
9.6
4.4
.5
1.1
206 1
197 9
179.8
234.8
170.8
203.5
185.3
213. 2
201.0
189.2
221.1
186.7
189 6
189 1
10 390
12, 404
11, 133
12, 174
1,024
1,374
997
1,032
1,079
1,014
1,136
995
844
885
789
780
875
1,021
845
1,067
903
1,058
912
1,086
941
992
819
971
823
1,168
47 043
41, 996
3,985
3,552
3,748
3,938
3,283
3,284
3,665
3,292
2,961
3,406
3,418
3,367
3,746
93.90 115.60
75.50
77.25
77.45
88.35
78.80
1, 629. 90 1, 134. 95 105. 35 90.85 101. 00 110. 80
82.65 90.85 100. 05 82.95 105. 60 74.40
64.20
71.75
67.65
80.15
1, 483. 10 1, 024. 65 93.30
1, 221. 75 1, 353. 20 132. 80 103. 60 118. 30 129. 80 102. 55 93.05 122. 40 106. 20 114. 25 137. 40 102. 85
116. 25 92.60 107. 35 115.50
83.65 108. 85 95.80 101.45 121. 40
94.70
91.45
1 097. 50 1, 211. 05
1 , 306. 7 1, 088. 5 1, 282. 0 1, 269. 3 1, 252. 0 1, 233. 0 1, 224. 3 1, 246. 9 1, 203. 3 1, 174. 3 1, 137. 5 1, 088. 5 1,061.1
445. 72
401 35
463. 45
436. 85
394.4
20.20
18.80
42.85
39.70
338.6
286. 65
248. 15
452. 75
406.90
228.3
25.25
20.20
40.35
38.70
323.5
21.70
18.20
40.40
37.00
304.8
1 1 922 4 757 0 7 435. 0
U
95.4
i 476. 0
388 4
84 4 720.7
162 3
1
28.50
23.65
46.70
37.70
286.6
25.35
18. 75
29.70
26.10
282.3
19.30
18.30
28.80
24.65
272.8
534.4
121.7
28.0
21.60
19.20
31.90
29.40
262.5
94.55
'85.80
85.20
'74.60
' 114. 90 140. 35
' 104.65 125. 90
' 1, 032.0 986.2
33.25
27.20
39.45
35.15
228.3
23.60
21.70
34.55
31.15
234.5
417.2
92.6
17 5
7
21.85 ' 23. 75 22.75
20.45 ' 22. 50 20.35
31.50 ' 29. 30 32.65
25.20 ' 27. 55 28.50
218.6 ' 213. 1 203.2
370.4
78.8
18 3
24.10
21.75
41.15
37.30
245.4
434.9
406.9 7 102. 0
122.5
91.0
91.3
957. -9
273.9
294.0
185.1
204.9
1 220 6
1 203 4
375.8
348.7
263.4
215.6
32 124
32, 062
2,302
1,872
1,897
2,070
2 028 0
1 909.6 ' 149. 3
164.9
158.9
163 0
5 582.7
4, 446. 5
145.8
5, 677. 4
4, 376. 0
140.1
506.6
401.2
155.6
397.7
276.0
139.0
394.9
349.2
2, 360. 8
2, 642. 3
186.2
119.3
117.5
23, 595
12, 402
21, 698
10,881
1, 771
5 1,171
1,483
680
1868.3
712.0
64.9
56.1
239
205
225
6 113. 3
51.3
697.6
47.5
412. 9
1 005 9
5
6
9. 2
4.1
2,396
3,133
3,246
3 609
3,431
3,179
163.7
131.7
165.1
153.0
162.8
176.7
156.1
444.6
386.1
140.8
415.2
360.7
106.6
489.0
443.3
151.4
514.6
467.2
171.1
574.9
428.7
161.2
563. 4
321.5
146.6
169.1
285.7
316.2
325.8
297.2
1,584 s 1, 621
729
5728
1,027
474
1,767
858
5 2, 574
s 1, 219
2,164
1,031
2,226
1, 022
47.4
62.2
60.2
62.2
58.2
58.2
59.2
218
6
9.1
4.3
68.3
5.0
6
8. 4
3.6
188
67.6
3.9
67.3
3.0
67.5
3.1
* 83.1
'3,852
2, 734
173 4
191 6
189 8
187.9
139.6
477.4
292. 9
147.0
505.0
347.2
175 1
497.8
376.4
164.1
565.1
377.4
275.8
256.1
247.4
228.2
200.2
135.1
s 2,278
1, 066
1, 463
798
' 1, 787 5 2, 134
919 5 1, 114
1,549
818
59.9
58.3
56.1
61.7
6
6
7. 5
4.1
67.5
3.6
894
25
994
17
5
188
N 6
8. 4
4.0
6
7.6
3.4
e 6.8
35
6. 9
3.8
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production
thous. sh. tons__ 12, 941
932
959
1,079
12,002
Exports
_.
do
41
37
766
595
46
Price, wholesale, chestnut, f.o.b. car at mine
$ per sh. ton__ 12. 824
12. 892 13. 475 12.005 12. 005
Bituminous:
Production
thous. sh. tons__ 533,881 551,000 48, 217 45, 179 49,689
' Revised.
1 Revised total; monthly revisions are not available.
- Total for 11 months.
3
Reported year-end stocks. See BUSINESS STATISTICS.
* For month shown.
s Data cover
6
5 weeks; other periods, 4 weeks.
Excludes orders for motors 1-20 hp.; domestic sales of
this class in 1967 totaled $110.5 mil.; Mar. 1968, $9.2 mil.
< Effective 1st quarter 1967, total
shipments and shovel loaders include types not previously covered and off-highway wheel
tractors exclude types previously covered; also, the wheel tractors for 3d quarter 1967 omit
one type (usually included) to avoid disclosure of individual operations.
975
45
880
35
1,235
49
1,024
76
962
63
1,011
59
947
48
897
28
12. 005
12. 495
12. 495
12. 985
12. 985
13. 475
13. 825
13. 825
1,156
48, 315
45, 174 36, 869 50, 883 45, 480 48, 693 47, 304 43, 169 45, 180 ' 43, 830 47, 050
IJData (back to Jan. 1965) reflect revisions and new seasonal adjustment factors.
fRevised series. Monthly data for 1956-66 are on pp. 35 ff. of the Mar. 1968 SURVEY.
tRevised to include combination washer-driers.
9 Total includes data not shown
separately.
©Radio production comprises table, portable battery, auto, and clock models; television
sets cover monochrome and color units.
SURVEY OF CUREENT BUSINESS
May 1968
1966
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
Annual
S-35
1968
1967
Mar.
May
Apr.
June
July
Aug.
Oct.
Sept.
Nov.
Dec.
Jan.
Feb.
42
23
16
7
066
364
674
840
44 035
24, 631
17 247
8 165
47, 344
26, 646
17, 917
8,095
44, 527
25, 115
17 032
7 751
1 985
2 148
2,780
2 380
86, 325
64, 269
21, 921
10, 422
Mar.
82 356
60 631
21 641
9 815
PETROLEUM, COAL, AND PRODUCTS—Continued
COAL— Continued
Bituminous— Continued
Industrial consumption and retail deliveries,
total 9
thous sh tons
Electric power utilities
do
Mfg and mining industries total
do
Coke plants (oven and beehive)
do
Retail deliveries to other consumers
do
Stocks, industrial and retail dealers', end of period,
total
thous sh tons
Electric power utilities
do
Mfg and mining industries total
do
Oven-coke plants
do
Retail dealers
do
Exports
do
Prices, wholesale:
Screenings, indust. use, f.o.b. mine
$ per sh ton
Domestic, large sizes, f.o.b. mine
do
COKE
Production:
Beehive
Oven (byproduct)
Petroleum coke§__
Stocks, end of period:
Oven-coke plants total
At furnace plants
At merchant plants
Petroleum coke_
Exports
_
thous sh tons
do
do
do
do
do
do. _
do
486 266 r480, 255
264 202 271, 784
201 490 190 905
95 892 r 92 111
19 965
17' 099
74 466
52, 895
21 332
9 206
93
69
23
10
239
128
737
212
940
179
41
22
17
7
711 r37 366
910 20 955
117 r!5 635
979 r 7 607
1 680
71
50
20
9
38
21
15
7
74 696
53 702
20 846
9 829
149
148
37
22
14
7
693
729
231
702
380
491
150
543
845
836
80
58
21
10
209
156
855
596
198
590
318
770
327
36
21
14
7
724 r38 835 '37 133
999 22 922 r 21 133
199 r!4 957 !4 633
367 r 7 528 r 7 438
433
895
234
831
175
019
80 621
60 150
20 240
8 774
86 726
65 089
21 392
9 465
228
85
61
23
11
473
231
245
1 311
90
68
21
9
707
653
825
726
229
r
40
22
15
7
114
528
939
829
1 592
94
70
23
10
467
935
305
611
227
95
71
23
10
001
357
345
914
199
93
69
23
10
128
737
212
940
179
135
111
2 786
49, 302
49 510
3 102
4 193
4 912
4 987
4 032
4 641
3 966
4 722
4 948
3,775
3,241
4.952
6.971
5 217
6 795
5 116
7 197
5 238
6 463
5 231
6 426
5 224
6 417
5 237
6 561
5 233
6 596
5 272
6 681
5 242
6 856
5 287
6 998
5.278
7.017
5.281
7.077
1, 442
65 959
17, 611
* 394
1 545
60
5 098
1 535
5 105
1 605
5 208
1 540
5 154
1 529
5 412
1 523
74 )
5 410
1*483
5 643
1,606
5,602
1,535
74
5 312
1*420
47
r 70
5 552
1 523
55
74
63 737
18 187
5 3*>2
5 686
5 467
4 961
*506
1 364
3 527
3 273
3 732
3 465
' 267
1 420
3 963
3 687
'277
1 372
4 350
4 051
4 766
4 371
5 277
4 824
5 439
4 972
5 499
5*022
5 467
4 961
5,375
4,879
5 226
4 766
5 016
4' 579
'437
1 451
48
36
84
61
1 400
1 337
50
1 387
460
58
5 016
4 595
'421
1 408
83
65
1 054
3.00
282 9
1,243
3.00
297 1
1 234
3 00
294 6
1 466
3 00
310 0
1 056
3 05
309 7
1,133
3.05
302.0
94
94
225
228
834
3 078
2 863
215
1,459
1,102
63
254
1 453
710
67
number
16, 780 1 15, 367
2.93
$perbbl_
3.02
mil. bbl_ 3, 447. 2 3 582 6
_% of capacity
91
93
1 168
3.00
296 1
60
59
299
396
56
453
1 413
74
467
477
75
506
495
1,364
1,342
51
64
46
78
1 774
3 05
310 9
1 193
3.05
299 1
2,061
3.05
318.1
3.05
312.9
94
94
3,061
PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed.
Price at wells (Okla.-Kansas)
Runs to stills
Refinery operating ratio
_
All oils, supply, demand, and stocks :
New supply, total __
Production:
Crude petroleum
__
Natural-gas liquids, benzol, etc
Imports:
Crude petroleum
Refined products
92
91
90
92
94
940
95
96
mil. bbl.
4, 435. 6
4 656.8
397.7
381.4
383.6
368 4
388 6
402 6
378.7
402 2
383.5
408.2
418.8
__ do __
do _
3,027. 8
468.7
3 216 5
514.5
264.9
43.2
254 3
42 6
260 0
43.3
256 3
41 5
283 9
42 7
292 5
43 3
272. 9
41.6
279 1
44 7
269 4
44.0
276.2
45.1
279.7
45.3
do_ _
do
447.1
492.0
411 6
514 2
37.6
52.0
38 2
46 4
39 9
40 4
33 6
37 0
30 1
31 9
31 5
35 3
31.5
32 7
31 9
46 5
29 6
40 4
37.5
49 4
30.5
63 3
38.1
63 9
—12.8
33 4
12 5
50
21 0
18 7
23.4
11 6
23 3
-8.5
—53.6
4, 397. 5
4 592 9
410.5
348 0
371 0
363 3
367 6
383 8
355 3
390 6
406 7
416.8
472 0
.1
6.3
3
0
1
6 9
364 2
161* 1
62
8
7
351
162
6 0
8
9
7
7
18
70
354 6
165 5
4 3
340 9
152 6
84
398 3
154 5
10 5
1
5.9
410 7
150 6
11.4
Change in stocks, all oils (decrease,—)
do. _
Demand, total, .
_
Exports:
Crude petroleum...
Refined products
Domestic demand, total 9
Gasoline
_
Kerosene
.
do
do _
do
do
do_ _
_ _ •_ do___
1.5
2
26 5
85 4
4 480 9
1 842 7
100.1
404. 1
152.2
5*5
8 2
81
367 5
171 0
61
7.1
14
76
381 6
160 6
7 7
797.4
626 4
244.4
816 7
652 1
300 8
90.2
67 7
23.8
58 3
52 7
24 3
60 4
49 8
24 6
49 2
45 5
25 6
48 6
41 5
27 2
47 3
44 4
26 3
47 7
40 8
26 0
60 3
56 2
28 3
80 3
56 8
26 3
92 7
63 5
26 7
117 7
84 4
26 0
do
do
_do
48 9
134 1
323.9
44 3
131 2
344.4
39
59
30.0
7 g
24 1
36
38
11 9
24 3
41
15 5
23 6
34
16 3
24 2
40
20 3
25 0
39
16 7
25 8
35
15 0
29 i
93
35 3
35
4 4
36 6
38
4 0
42 5
do
do
do
_..do__
874.5
238 4
40 4
595.7
938.4
249 0
65 7
623 7
844.6
258.1
35 8
550.8
do
1 792 6 1 845 9
_ do __
38 r 4 9
do
194.2
208. 0
146 2
142 7
151 8
155 5
159 2
160 3
158 8
159 4
155 3 r 165 8
4
3
159 4
216.2
214 7
206 9
197 8
194 3
183 7
190 5
190 2
191 7
r 208 0
220 4
.117
.120
.120
.120
120
.120
.120
.120
.110
115
115
110
226
.227
225
224
228
226
230
226
226
226
229
OOK
37.1
4 0
3.0
3
7.9
3.5
3
7.9
2 8
2
7.5
3.1
g
7.3
0
3
7.3
3.3
4
7.6
3.1
3
7.6
2 9
4
7.5
2.7
3
7.9
2 3
7.9
2.9
3
7.7
100 2
25 4
85
17 2
7 2
18 7
6 9
19 4
6 5
21 6
7 6
23 7
7 5
25 1
7 6
25 5
86
26 4
10 1
25 9
10 6
r 25 4
10 3
19 3
.104
.110
Revised.
1
Annual total reflects revisions not distributed to the monthly data.
.109
.109
.109
.109
.112
.112
.112
.112
.112
.112
.112
§ Includes nonmarketable catalyst coke.
Distillate fuel oil
Residual fuel oil . _ _
Jet fuel
Lubricants _
Asphalt.
Liquefied gases...
do_—
do
do_ _
_ _ _ _
Stocks, end of period, total _
Crude petroleum
Natural-gas liquids
Refined products
Refined petroleum products :
Gasoline (incl. aviation) :
Production
_ _ _
Exports.
____ _
Stocks, end of period
_ _
Prices (excl. aviation):
Wholesale, ref. (Okla., group 3) ___$ per gal _
Retail (regular grade, excl. taxes), 55 . cities
(1st of following mo.). _ _
__ $ per gal
Aviation gasoline:
Production
mil. bbl
Exports
_
_ _ do
Stocks, end of period
do
Kerosene:
Production
do
Stocks, end of period
do
Price, wholesale, bulk lots (N.Y. Harbor)
$ per gal. .
r
70.9
4 325 1
1, 793. 4
101.1
.114
216
r
41.2
34
7.8
102 1
25 0
r
9.6
3
6
340
145
5
878
266
44
567
1
8
3
0
3
890
268
52
569
5
8
7
0
3
895
261
59
574
6
6
3
6
2
916
256
66
594
5
7
4
7
5
2
0
3
7
935
261
71
602
3
6
7
0
6
O
8.4
958
257
75
625
6
3
9
5
7
970
255
76
638
2
1
3
8
3
9 Includes data not shown separately.
946
254
70
622
9
2
4
3
938
249
65
623
4
0
7
7
6
465
147
16
890
244
93
552
2
6
8
3
5
9
6
0
3
3
7 6
Apr.
SURVEY OF CURRENT BUSINESS
S-36
1966
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1967
Annual
May 1968
Mar.
May
Apr.
June
July
1968
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products— Continued
Distillate fuel oil:
Production
mil. bbl
Imports
do
Exports _
_ _
_ _do _
Stocks end of period
do
Price, wholesale (N.Y. Harbor, No. 2 fuel)
$ per gal _
Residual fuel oil:
Production
mil. bbl
Imports _
. _ " _ . _ _ do
Exports.:- _ _ _ _ _ _ _ _
do
Stocks, end of period
do
Price, wholesale (Okla., No. 6)
$ per bbl
Jet fuel (military grade only):
Production
Stocks, end of period.- _ _ _•_ _
mil. bbl
_ _ do __
Lubricants:
Production
._: _ ' _ _ __ do _
Exports..
__
_
do ..
Stocks, end of period_
_ do _
Price, wholesale, bright stock (midcontinent,
f.o.b., Tulsa) _.
$ per gal
Asphalt:
Production
Stocks, end of period
mil. bbl
do
Liquefied petroleum gases:
Production
do
Transfer from gasoline plants
do
Stocks (at plants, terminals, underground, and
at refineries) end of period
mil bbl
Asphalt and tar products, shipments:
Asphalt roofing total
thous squares
Roll roofing and cap sheet
do
Shingles, all types
do
Asphalt siding
Insulated siding
Saturated felts
do
do
thous sh tons
785. 8
13. 8
' 804. 8
18.5
70.1
1.4
.4
2.7
.3
157.1
154.1
62.7
63.0
4.3
4.4
87.0
92 8
64 9
13
.9
.4
113 0
96 4
67.6
3
1.3
.1
132.6
68.3
69.1
1.1
.2
1.2
.4
154.5
176 6
69.2
17
65.5
73.8
1.4
.5
74.3
4 2
.6
186 7
172 8
157 1
119 8
3.5
.4
.7
.094
.100
.099
.099
.099
.099
.102
.102
.102
.102
.102
.102
.102
264. 0
376. 8
12.9
61.2
1.62
276.0
395.8
22.0
62.5
1.47
24.2
41.1
22.8
36.5
21.6
30.8
21.5
23.1
21.1
26.5
27 7
50.9
59.8
1.45
62.7
1.45
63.7
1.45
21 7
35.4
1. 9
65 0
1.45
27.5
37.9
58.6
1.45
20.9
24.2
2. 8
65.5
1.45
24.5
30.9
52. 9
1.45
21 6
26 6
16
61 2
1 45
61.4
1 45
62.5
1.45
58 5
1.45
215. 5
19.4
273. 2
22.2
21.5
20.4
21 9
20.2
22 7
20.4
23.4
21.3
23 7
21.0
23 8
21.6
23 5
21.1
25 1
21.8
24 2
22.0
24 0
22.2
24 1
22.8
65.4
17. 1
12.7
64.9
18.6
14.8
5.5
5.4
1.9
13.4
1.8
13.6
5.4
5.4
5.5
5.2
5.5
5.3
5.6
1. 7
13.5
5.1
13.4
13.9
13.8
13.6
14.0
13.8
14.8
1.0
15.1
.270
.270
.270
.270
.270
.270
.270
.270
.270
.270
.270
.270
.270
129.6
17.3
127.8
19.9
25.4
9.0
11.9
27.1
12 8
25 0
14 3
23.7
14 9
19.0
13 7
16.8
13 4
15.6
10 1
17.2
6 9
19.9
6 4
22.7
67. 6
236. 6
20. 1
6.2
14 9
57
14 5
5.6
5.6
5.8
5.5
5.3
5.7
5.8
15 2
16 6
16 8
20 9
26 0
'29 1
28 5
63.4
32.6
40 7
56 6
63 1
69 0
73 2
74 4
68 6
63 4
53 1
60. 1
215. 1
37.7
69, 363
28, 917
40,446
r
554
539
880
r
1.6
8.1
5.8
r 76 500 ' 5, 320
' 30, 509 r 2, 188
' 45, 992 '3,132
'468
'445
r
876
'39
25
73
1.3
1.7
5.7
26.8
5.5
15.2
49.6
2.0
2.6
2.5
r
r
r
8, 039 ' 7, 980 r 9 267 ' 8 021 ' 7 985 r Q 269
'6 047 6, 385
2, 962 ' 2 934 '3 573 '3 176 '3 358 r 2 689
'2 298 '2,364
r
3, 749 ' 4, 020 ' 5, 077 '5,047 '5 694 ' 4 845 ' 4, 627 '3 580
'33
34
r 71
'32
40
r
67
'38
56
'83
'38
46
81
'46
57
' 94
'44
50
'80
'54
51
'83
'55
33
' 76
1.2
1.6
r 4 126
4 689
' 1 881 2 025
' 2 245 2,664
'30
17
57
31
13
70
' 4 217 4 367
' 1 873 1,912
' 2 344 2,456
'26
14
64
23
26
61
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulp wood:
Receipts
Consumption
Stocks, end of period
Waste paper:
Consumption
Stocks, end of period
thous cords (128 cu ft )
do
do
* 56, 797
i 56, 259
i 6, 529
54, 921
55,257
5,859
5, 105
4,801
6,286
4,361
4,759
5,994
4,507
4,797
5,708
4,686
4,550
4,857
4,326
4,279
5,939
4,775
4,626
5,966
4, 548
4,299
6,194
4,827
4,900
6,233
4,377
4,615
6,024
4,123
4, 333
5,859
» 4, 180
* 4, 835
p 5, 231
thous sh tons
do
i 10, 541
1738
9,733
602
829
640
788
630
815
642
811
720
695
629
899
615
839
601
892
581
833
594
753
602
P860
539
WOODPULP
Production:
Total all grades
thous sh tons
Dissolving and special alpha
• do
Sulfate
do
Sulfite
do
i 36, 640
i 1, 527
i 23, 562
i 2, 748
35, 487
1,447
22, 593
2,669
3, 129
139
1,981
238
3,065
106
1,967
233
3,133
128
1,969
239
2,966
102
1,858
228
2,726
104
1,729
189
3,004
122
1,927
221
2,834
112
1,773
211
3,098
142
1,954
226
2,997
128
1,890
227
2,563
119
1,751
206
3,139
135
2,011
'226
Groundwood
Defibrated or exploded
Soda, semichem., screenings, etc
Stocks, end of period:
Total, all mills
Pulp mills
Paper and board mills
Nonpaper mills
do
do
do
i 3, 794
1 1, 658
1 3, 351
3,953
1,418
3,407
345
132
294
337
131
290
350
134
314
343
137
298
310
120
273
335
130
269
328
121
288
345
123
308
334
120
296
256
15
217
348
125
294
do
do
do
do
816
276
456
84
786
342
363
80
805
322
407
76
786
324
386
76
809
356
375
78
860
363
425
72
827
382
378
67
814
377
370
67
808
381
360
68
836
408
357
71
813
388
359
69
786
342
363
80
*p793
'*>379
p350
"65
Exports, all grades, total
Dissolving and special alpha
All other.
do
do
do
1,572
563
1,009
1,710
607
1,102
172
83
89
128
36
92
133
31
101
185
77
108
111
38
73
165
58
106
135
45
89
150
47
103
160
57
103
156
57
99
139
48
91
155
57
98
155
50
105
Imports, all grades, total
Dissolving and special alpha
All other.
do
do
do
3,355
293
3,065
3,162
265
2,898
297
25
273
245
20
226
269
25
245
273
21
251
236
16
221
256
27
229
249
21
228
246
22
224
290
23
267
252
26
226
269
27
242
277
25
252
280
23
257
4,015
1,794
1,895
13
313
3,812
1,730
1,856
11
215
3,934
1,735
1, 876
12
311
3,885
1,684
1,865
12
324
3,425
1,492
1,634
9
290
3,938
1,727
1,865
11
334
3,720
1,653
1,723
10
332
4,128
1,772
1,982
12
363
3,871
1,683
1,862
11
315
3,592
1,644
1,659
12
278
* 4, 016
p 1,814
P 1, 871
"13
*>318
3,972
3,927
3,885
3,884
3,544
3,913
3,787
4,159
3,823
3,521
4,095
101.9
116.7
97.3
92.3
101.9
118.8
97.3
92.2
101.9
117.8
97.3
91.7
101.9
117.8
97.3
91.5
101.9
117.8
97.3
91.5
101.9
117.8
97.3
91.3
101.9
117.8
97.3
91.4
101.9
117.8
97.3
92.1
101.9
117.8
97.3
92.0
101.9
117.8
97.3
92.1
101.9
117.8
97.3
92.1
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census) :
All grades, total, unadjusted. --thous. sh. tons__ 47, 189
45, 918
Paper
do
20, 631
20, 331
Paperboard
do
22, 574
21,840
153
Wet-machine board
do
135
Construction paper and board
do
3,831
3,602
New orders (American Paper Institute) :
All grades, paper and board
do
46, 886
46, 034
Wholesale price indexes:
Printing paper
1957-59-100
101.7
101.9
Book paper, A grade
___ do
115.1
117.6
Paperboard
do
97.1
97.3
91.9
Building paper and board
_ _ . do
92.8
c
'•Revised.
p Preliminary.
Corrected.
1
Reported annual total; revisions not allocated to the months.
3,913
Apr.
SURVEY OF CUKKENT BUSINESS
May 1968
1966
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1967
Mar.
Annual
S-37
Apr.
May
July
June
1968
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
PULP, PAPER, AND PAPER PRODUCTS— Continued
PAPER AND PAPER PRODUCTS— Con.
Selected types of paper (API) :
Fine paper:
Orders, new.
____thous. sh. tonsOrders unfilled end of period
do
2, 637
159
2,642
155
238
157
237
174
231
174
222
177
201
178
232
168
198
148
220
151
215
146
203
155
232
157
"230
"160
2,641
2,633
2,656
2, 655
237
236
230
230
229
231
216
211
194
196
236
243
213
213
228
224
215
217
199
200
228
230
"227
"225
do
do
6,711
553
6,328
443
561
496
554
513
532
467
569
526
500
509
514
462
514
468
536
482
472
415
501
443
546
427
"524
"472
do
do
6,511
6,511
6,325
6,325
565
565
536
536
546
546
544
544
488
488
526
526
512
512
530
530
501
501
501
501
'534
532
"500
"499
do
do
4,723
200
4,673
210
422
223
392
213
367
190
387
199
330
195
418
218
363
223
397
224
406
225
406
212
424
229
"392
"215
do
do
4, 696
4,704
4, 751
4,680
429
436
400
389
398
385
383
387
315
316
412
408
400
379
418
405
408
404
396
398
423
406
"411
"405
do
do
do
8,419
8,385
184
8,051
7,968
268
695
653
369
670
692
348
704
741
311
652
713
250
668
592
326
705
665
365
641
660
346
681
704
323
675
687
311
602
646
268
641
583
325
629
573
381
674
659
' 396
do
do
do
2,408
2,405
21
2,620
2,602
39
225
225
51
223
221
54
227
249
32
222
228
27
197
191
33
225
212
46
209
211
44
228
226
47
222
228
41
204
206
39
238
223
55
220
215
59
250
242
68
Consumption by publisherscf
do
Stocks at and in transit to publishers, end of
period
thous sh tons
6,898
6,907
585
609
616
568
522
544
568
634
622
587
518
523
604
681
630
676
654
676
711
727
726
707
698
673
630
617
613
584
Imports _ _ _
do
Price, rolls, contract, f.o.b. mill, freight allowed
or delivered
$ per sh. ton_.
6,991
6, 599
549
528
614
601
527
542
528
575
541
531
537
460
531
136. 23
139. 95
138.40
138. 40
138. 40
139. 00
141.40
141. 40
141.40
141. 40
141. 40
141. 40
141. 40
Paperboard (American Paper Institute):
Orders, new (weekly avg.)
thous. sh. tons__
Orders, unfilled §
do
Production, total (weekly avg.)
,_
do
Percent of activity (based on 6.5-day week)
449
724
446
92
444
618
439
87
450
705
444
89
459
695
454
89
448
690
452
88
446
614
454
91
393
654
376
74
454
645
448
90
448
702
413
84
476
759
463
91
466
767
458
89
405
648
421
78
429
661
408
89
481
714
482
92
494
733
480
90
497
767
480
90
162, 362 ' 14,102 ' 12,803
* 14,011
11,794 ' 14,435 ' 14,308 ' 15,114 ' 14,175 ' 13,081
13,432
12, 922
13, 763
24,289
Production
Shipments
do
__do _ _ _
Printing paper:
Orders new
Orders unfilled, end of period
Production
Shipments
Coarse paper:
Orders new
Orders unfilled , end of period
Production
Shipments
Newsprint:
Canada:
Production
Shipments from mills
Stocks at mills, end of period
United States:
Production
Shipments from mills
Stocks at mills §
Paper products:
Shipping containers, corrugated and solid fiber,
shipments
mil. sq. ft. surf. area_. ••160,452
Folding paper boxes, shipments, index of physical
volume
1947-49=100.-
134.1
" 134. 1
141.7
128.6
136.5
r
14,014
141.6
r
118. 5
142. 0
137.4
143. 8
139.7
132.5
126.1
' 128. 6 " 138. 9
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption.. _
thous Ig tons
Stocks, end of period
do
Imports, incl. latex and guayule
do
Price, wholesale, smoked sheets (N.Y.)__$ per lb_Synthetic rubber:
Production.. _ _
Consumption
Stocks, end of period
thous Ig tons
do
do
Exports (Bu. of Census)
Reclaimed rubber:
Production
Consumption
Stocks, end of period
545. 68
91.59
431. 66
488. 85
111. 66
452. 80
47.25
104.98
51.75
37.64
107. 68
33. 58
29.04
116. 76
36.61
28.32
116. 84
24.13
23.12
126.95
23.27
49.14
125. 83
43.57
46.54
118.43
33.55
50.75
110. 25
35.46
46.03
109. 43
50.23
.236
.199
.206
.208
.208
.220
.206
.193
.179
.188
.179
1,911.87 164. 60
1,628.26 146. 15
369. 94 345. 57
154. 97
126. 89
353. 99
138. 45
106. 88
355. 02
132. 09
103. 87
35d. 75
137. 92
84. 34
383.04
155. 68
157. 17
355. 30
167. 73
154. 39
349.60
178. 74
170. 15
335. 43
181. 88
155. 13
347. 00
1,969.97
1,666.06
348. 69
43.06 »"49. 17
111. 66 ' 108.23
48.22
46.88
47.61
101. 61
42.06
49.47
95.26
39.49
.173
.164
.176
185.10 r 178.79
143. 83 T 162.92
369. 94 ' 360.27
170.82
154. 26
357.01
180. 29
161. 93
360. 10
.175
do
308. 44
299. 80
25.07
22.81
27.40
26.56
23.73
24.57
26. 11
24. 08
24.94
23.02
23.99
26.15
do
do
do
277.36
264. 51
32.29
243. 65
239. 27
28.40
23.37
21.43
32. 38
18.03
19.35
30.12
14.12
15.17
28. 07
14.50
14.74
26.39
11. 97
11.29
25.21
23. 56
24. 16
24.88
22.52
21.25
25.20
25.45
25.24
24.90
23.18
21.25
27.21
23.90 ' 23. 76 23.78
22.85
22. 59 ' 23. 07
29.50
28.40 > 28. 04
.179
22.71
23.48
28.56
24.35
TIRES AND TUBES
Pneumatic casings, automotive:
Production _
thous
177, 169 163, 192
15, 070
12,424
8,734
8,748
6,919
15, 744
16, 162
18, 278
16, 244
15, 664
17, 594
17, 118
18, 175
Shipments, total
Original equipment
Replacement equipment
Export... ._
do
do
do
do
173, 464 172, 947
54,680 47, 617
116, 348 123, 205
2,436
•2, 125
14, 434
4,455
9,782
198
16, 299
4, 330
11,788
181
16, 265
4,835
11, 293
137
16, 201
4,695
11, 401
105
12, 469
2,125
10, 239
105
13, 818
2,673
10, 971
174
15, 670
3,693
11,757
219
16, 695
4,098
12,368
230
13, 611
4, 308
9,132
171
12,972
5,008
7,760
204
14,818
4, 866
9,757
196
13, 538
4,585
8,755
198
16, 740
5, 465
11,099
176
Stocks , end of period
Exports (Bu. of Census)
do
do
42, 569
2,051
34, 782
1, 450
48, 273
156
44,410
147
37, 088
107
29, 883
101
24, 381
80
26, 466
106
27, 114
122
28, 920
106
31, 674
166
34, 782
121
38, 020
76
41, 916
c 145
43, 742
93
Inner tubes, automotive:
Production.Shipments.
Stocks, end of period
Exports (Bu. of Census)
do
do
do
do
42, 765
44,222
11, 996
1,100
39, 775
41, 691
11,005
849
3, 809
3,762
10,922
101
3,103
3,531
10,631
108
2, 696
3, 546
9,888
65
2,871
3,412
9,337
71
2, 145
3,053
8,599
56
3, 516
3, 361
8,937
45
3,634
3,202
9,574
76
4, 067
3,741
10, 033
72
3,816
3,191
10, 508
63
3,314
3,026
11, 005
69
4, 078
4,579
10. 790
63
4, 005
3,664
11,159
66
3, 991
3,778
11, 453
62
r
Revised.
" Preliminary.
e Corrected.
c?As reported by publishers accounting for about 75 percent of total newsprint consumption.
§ Monthly data are averages for the 4-week period ending on Saturday nearest the end of the
month; annual data are as of Dec. 31.
SUEVEY OF CUEEENT BUSINESS
S-38
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
1968
1967
1967
Mar.
Annual
May 1968
Apr.
May
June
July
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
39 148
40 000
30 604
21, 305
17 166
20,204
26, 176
720 8 r 668 8
17 6
21 0
161 9
177 3
700.8
19.0
163 4
613.2
17.1
126 7
469 2
14.3
92 2
Aug.
Sept.
Apr.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement
thous bbl
44 632
380 694
374 213
24 758
27 940
34 765
7 551 6
267 4
1 610 3
7 097 5
234 5
r -i 572 i
555 5
24 4
124 0
605 9
21 8
119 3
651 9
19 7
140 2
308 1
r 240 1
19 2
19 9
9
24
21 8
19 5
20 7
18 6
21.8
20.7
18.3
272 7
r 257 5
22 9
20 8
22 9
94. 7
20 1
24 2
22 6
21.6
21.3
18.4
111 5
113 3
112 9
112 9
113 1
113 1
113 5
113,5
113.7
113.7
113.9
114.9
thous $
343 138
332 067
76 791
do
do
136 785
206 353
131 567
200 500
28 388
48 403
211 764
99 c c7Q
18 040
19 185
19 170
19 254
19 147
20 089
17 938
20 213
19 499
19, 073
20 629
228 766
18 485
17 458
18 873
20 129
17 540
20, 410
19, 074
19, 746
21, 123
25,647
25, 451
23 631
2 056
1 804
1 818
1 909
1 609
2 275
2,906
2,251
1,700
2,204
2,260
57 852
4 432
4 023
4 222
4 400
4 072
5 361
4,893
5,521
5,633
6,887
6,579
2 796
3 890
1 495
3 304
4 329
1 602
4301
4 526
1 588
3 384
4 068
l'l36
3,440
4 048
1 479
2,628
3,511
1,598
2,963
3,209
1,915
3,728
3,559
2,137
5,108
4,153
2,198
3,694
5,040
2,276
QAQ
37 527
fiso n
21 1
641 9
19 5
156 1
07
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
mil standard brick
Structural tile , except facing
thous sh tons
Sewer pipe and fittings vitrified
do
Facing tile (hollow) , glazed and unglazed
mil brick equivalent
Floor and wall tile and accessories, glazed and unglazed
mil sq ft
Price index, brick (common), f.o.b. plant or
N.Y. dock..
1957-59—100
1 Kf> n
r
360 1
13 5
82 9
501.0
13.6
103 1
14.4
r
14.6
21. 3
20.1
115.3
GLASS AND GLASS PRODUCTS
Flat glass, mfrs ' shipments
Sheet (window) glass, shipments
Plate and other flat glass shipments
Glass containers:
Shipments, domestic, total
do
General-use food:
Narrow-neck food
do
Wide-mouth food (incl. packers' tumblers,
jelly glasses, and fruit jars)
thous gross
204 093
21 605
52 168
7fi fi4.d
84 901
93, 731
29 862
35, 622
49, 279
37, 695
56, 036
4fi 789
Beverage..Beer bottles
Liquor and wine
do
do
do
27 098
38 895
17 608
38 185
44 501
19 459
2,763
3 885
1 682
Medicinal and toilet
Chemical, household and industrial
Dairy products. _
do
do
do
39 766
5 812
l'l41
38 516
5 664
958
3 069
505
93
2 959
425
66
3 074
'453
71
2 883
448
74
2 809
399
63
3 255
481
71
2, 993
459
86
3,362
445
80
3,768
510
88
4,386
600
111
4,898
608
96
do
30 084
22 546
31 943
33 580
33 223
31 679
33, 675
32, 736
31, 201
31, 515
29, 394
22, 546
17, 598
5 479
9 647
4 722
9 406
737
2 033
1,171
2,236
1,442
2,742
1,372
2,395
do
8 434
7 685
1 793
1,824
2,320
1,748
do
do
4 693
322
4 554
295
757
78
1,277
74
1,331
72
1,189
70
do
do
680
899
560
815
135
183
148
202
161
240
116
190
1 079
7 084
228
947
6 993
247
219
1 596
49
220
1,576
64
315
2,284
74
193
1,537
60
Stocks, end of period
GYPSUM AND PRODUCTS (QTRLY)
Crude gypsum, total:
Imports..
Production...
thous sh tons
do
Calcined, production, total
Gypsum products sold or used, total:
Uncalcined uses
Industrial uses.
Building uses:
Plasters:
Base-coat
All other (incl. Keene's cement)
Lath___
Wallboard/.:
All other.
mil sn ft
do
do
TEXTILE PRODUCTS
WOVEN FABRICS
Woven fabrics (gray goods), weaving mills:
Production, total 9
mil linear yd
Cotton
do
Manmade fiber _
do
Stocks, total, end of period 9 cf
Cotton
Manmade fiber __
12 689
8 866
3 571
11 983 1 i i5g
i g23
8 263
3' 493
i 312
956
674
262
959 1 1 167
i 309
670
1
269
334
715
477
222
918 1 1 151
631
!781
!350
270
971
656
299
969 1 1 126
1753
649
1353
306
P
U 154
i 749
'1383
983
651
314
"
do
do
do
1?306
766
521
1 317
837
465
1 307
782
504
1 323
*806
497
1 364
'835
512
1 396
852
527
1 404
860
528
1 390
865
511
1 357
845
498
1 338
849
475
1 330
850
466
1 317
837
465
r 1 287
821
M51
1,271
811
444
Orders, unfilled, total end of period 9 ^[
Cotton
_
Manmade
fiber
do
do
do
3 222
2 408
746
3 190
2 060
1 045
3 046
2 290
686
2 801
2 020
708
2 693
1 866
749
2 562
1 753
735
2 622
1,748
799
2 864
1 928
865
2 835
1,882
881
2 957
1,941
944
3 202
2,099
1 021
3 190
2,060
1 045
r
3 047
1,915
I 036
2 860
1,734
1 032
257
632
1,013
3,289
6,327
6, 931
3
562
721
744
720
r
COTTON
Cotton (exclusive of linters):
Production:
GinningsA
thous running bales
9 562 r 7 435 4 9 562
Crop estimate, equivalent 500-lb. bales
thous bales
9 575 r 7 455
Consumption
do
733
*906
748
9 215
9 647
Stocks in the United States, total, end of period
thous bales
20 265
14 580 16 548 15 516 14 378
Domestic cotton , total
do
20 186
14 489 16 479 15 455 14 326
On farms and in transit
do
801
671
713
1 121
1 526
Public storage and compresses
do
17 639
11 369 13 779 1° 664 11 690
Consuming establishments
~
do
1 594 1 987 1 990 1 965
1 426
Foreign cotton, total
""
rin
7Q
Q1
fiQ
fil
59.
'Revised.
i Data cover 5 weeks; other months, 4 weeks.
2 Ginnings to Dec. 13.
^ Ginnings to Jan. 16.
* Crop for the year 1966.
s Crop for the year 1967.
9 Includes data not shown separately.
tf Stocks (owned by weaving mills and billed and held for others) exclude bedsheeting,
toweling, and blanketing, and billed and held stocks of denims.
i 889
1
850
2
*825
' 5 7,435
7, 265
*880
729
' 5 7, 455
735
18 235 17 088 15, 715 14, 580 13, 301 12, 101 10, 929
18, 171 17, 004 15, 624 14, 489 13, 217 12, 020 10, 856
984
1,413
1,186
2,564
1 526
7 459
5 808
7 917
9 790 11 613 11 369 10 073
8 970
9 157
1,955
1 406
1 447
1 594 1 751 1,864
1 555
58
F>R
64
84
91
81
91
86
73
Sfi
^Unfilled orders cover wool apparel (including polyester-wool) finished fabrics; production
and stocks exclude figures for such finished fabrics. Orders also exclude bedsheeting, toweling,
and blanketing.
ATotal ginnings to end of month indicated, except as noted.
13 196
13 140
472
10 818
1 850
12 533
12 375
'400
10 318
1 757
19 400
19, 342
7 926
9 802
1 614
SDKVEY OF CUERENT BUSINESS
May 1968
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
1968
1967
1967
Annual
S-39
Mar.
Apr,
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
TEXTILE PRODUCTS—Continued
COTTON— Continued
Cotton (exclusive of linters)— Continued
Exports
thous. bales
Imports
_ do
Price (farm), American upland. _ cents per Ib .
Price, middling 1", avg. 12 markets 1
do
Cotton linters:
Consumption
thous bales
Production
do
Stocks end of period
do
COTTON MANUFACTURES
Spindle activity (cotton system spindles) :
Active spindles, last working day, total
Consuming 100 percent cotton
Spindle hours operated, all fibers, total
Average per working day
Consuming 100 percent cotton
mil-do
bil~
do
do
Cotton yarn, price, 36/2, combed, knitting, natural
stock
$perlb_.
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly.)
mil. lin. yd-.
Orders, unfilled, end of period, as compared with
avg. weekly production
No. weeks' prod..
Inventories, end of period, as compared with
avg. weekly production- -No. weeks' prod-Ratio of stocks to unfilled orders (at cotton
mills), end of period, seasonally adjusted
Mill margins:*
Carded yarn cloth average
cents per lb__
Combed yarn cloth average
do-___
Blends (65% polyester-35% cotton)
do
Prices, wholesale:
Print cloth, 39 inch, 68 x 72— .cents per yard—
Sheeting class B 40-inch 48 x 44 48
do
3,973
169
401
5
20.4
22.1
288
3
20.4
22.2
416
19
19.7
22.2
299
3
20.3
22.4
228
4
20.9
22.6
244
20
22.0
22.8
277
52
21.3
23.2
275
25
27.3
23.4
298
17
30.5
25.0
331
10
27.6
27.0
474
10
22.4
26.2
447
3
19.9
25.4
436
3
19.4
25.2
1,366
1,419
725
1,080
977
617
2105
113
828
94
65
831
87
37
766
2104
40
695
70
26
637
79
40
595
297
33
546
84
92
538
81
146
595
298
122
617
296
122
628
84
98
614
85
84
593
19.5
15.1
132.1
.509
102.4
20.0
14.4
126.2
.486
94.4
19.8
15.3
211.9
.477
9.3
20.0
15.3
10.0
.501
7.7
19.7
15.0
9.9
.496
7.5
19.6
14.8
2 12. 3
.491
29.3
19.8
14.9
8.1
.403
6.0
20.0
14.9
9.8
.491
7.2
20.0
14.7
212.0
.481
20.1
14.7
10.3
.513
7.4
20.1
14.5
10.2
.511
7.3
20.0
14.4
11.6
.465
2
8. 3
20.1
14.2
212.7
.508
2
8. 9
20.1
14.1
10.4
.519
7.2
20.1
13.9
10.3
.516
7.1
.949
.942
.940
.934
.932
.927
.920
.920
.925
.927
.960
1.026
1.081
8,840
8,284
2,221
18.4
15.4
14.5
13.7
12.7
12.3
17.2
13.7
13.5
13.3
14.5
15.4
13.9
12.2
12.1
4.5
5.2
4.4
4.5
4.7
5.1
7.1
5.1
5.1
5.0
5.0
5.2
5.1
5.0
4.9
.25
.35
.32
.33
.37
.40
.41
.36
.37
.38
.34
.35
.37
.42
.42
4 41. 95
4
95. 74
4 63. 28
37.75
75.60
60.48
40.42
78.52
51.28
40.09
77.62
51.18
39.59
76.06
49.47
38.33
75.43
43.03
37.90
71.79
43.15
37.23
73.46
49.20
36.64
35.75
73.66
72.52
55.72 5 84. 03
33.43
68.50
90.55
32. 36
80.98
99.86
33.72 35.36
83.82 86.41
111.10 s 73. 54
36.13
90.48
65.97
18.7
18.0
718.4
17.8
17.3
18.4
18.4
18.4
16.0
18.3
16.5
18.5
17.0
19.0
17.0
19.0
1, 149. 2
205.9
181.7
368.7
361.2
3,597
100
122.1
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly. total
mil. lb__ 3, 860. 1 3, 980. 6
734.7
Filament yarn (rayon and acetate)
do
799.8
659.2
603.4
Staple, incl. tow (rayon)
do
Noncellulosic, except textile glass:
1, 164. 7 1,213.9
Yarn and monofilaments
do
Staple incl tow
do
904.0 1, 119. 8
Textile glass
fiber
do
308.8
332.4
Exports: Yarns and monofilaments
thous. lb__ 98, 722 688,831
55, 522
78,293
Staple, tow, and tops
do
Imports* Yarns and monofilaments
do
16, 571 28, 194
Staple, tow, and tops
do
177, 570 6149,672
Stocks, producers', end of period:
Filament yarn (rayon and acetate)
mil. Ib—
67.3
51.7
Staple, incl tow (rayon)
do
70.1
43.8
Noncellulosic fiber, except textile glass:
Yarn and monofilaments
do
150.2
138.7
Staple, incl. tow
do
129.8
142.4
Textile glass
fiber
do
42.5
40.4
Prices, manmade fibers, f.o.b. producing plant:
Staple: Polyester, 1.5 denier
$ per lb__
.80
Yarn: Rayon (viscose), 150 denier
do
.80
Acrylic (spun) , knitting, 2/20,3-6 D *_ do.. . . 1.58
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.), total 9
mil. lin. yd-_ 4, 234. 1
Filampnt yarn (100%) fabrics 9
do
1, 612. 5
735.0
Chiefly rayon and/or acetate fabrics
do
Chiefly nylon fabrics
do
335.4
Spun yarn (100%) fabrics (except blanketing) 9"
mil. lin. yd— 1, 907. 7
Rayon and/or acetate fabrics and blends
623.6
doPolyester blends with cotton
do
1, 051. 2
Filament and spun yarn fabrics (combinations
and mixtures)
do
479.4
WOOL
Wool consumption, mill (clean basis) :
Apparel class
Carpet class
Wool imports, clean yield
Duty-free (carpet class)
Wool prices, raw, clean basis, Boston:
Good French combing and staple:
Graded territory,
fine
Graded fleece, % blood
Australian, 64s, 70s, good topmaking
2
QOI 7
16.3
18.3
937.7
181.3
155.3
137 0
300.3
224.5
76.3
283.1
264 3
75.1
2,035
16.3
18.3
962.0
175.3
129.4
296.2
286.1
75.0
363.4
360.0
36.77
91.98
63.25
366.2
362.6
3
334.3 3 119. 9 r 3 118. 6 3 131. 9
344.9 3 123. 1 »• 114. 1 3 128. 1
82.4
7,453
6,314
1,908
14, 488
7,492
6, 290
1,574
10, 674
6,685
7,599
1,666
9,465
6,147
7,735
1,894
10, 776
5,806
6,062
1,532
13, 846
6,442
7,426
2,178
13, 395
6,693
5,974
2,305
11,982
9,368
5,071
2,535
14, 314
7,865
6,383
3,942
14, 029
8,782
5,910
3,065
14,972
8,155
6,077
4,978
22, 598
8,661
8,445
4,456
19, 519
7,205
7,944
3,953
20, 668
63.3
82.8
60.9
80.8
61.7
78.4
60.1
77.1
64.4
75.5
59.7
62.4
58.4
55.5
58.5
49.5
53.0
44.9
51.7
43.8
48.2
40.7
45.3
44.4
40.6
51.3
164.1
120.9
169. 1
129.7
163.0
128.4
155.9
132.1
43.4
147.6
129.9
143.2
131.6
138.7
142.4
40.4
136.6 r 132. 3
146.0 '' 147. 8
135.0
159.5
.65
.81
1.54
.62
.81
1.55
.62
.81
1.54
.62
.81
1.53
.62
.81
1.53
.62
.81
1.46
.60
.81
1.41
164.6
122.0
47.0
4.7 1
.66
.81
1.52
.72
.81
1.53
4, 234. 8
1,625.6
761.1
317. 5
1,020.4
407.7
194.3
81.3
1 040 9
402.0
187 9
80.6
999.0
375.4
171 6
76.8
1, 978. 0
457.5
486 1
473.0
561 4
601.0
1, 163. 1
151.8
259.5
154 4
284 9
134.5
280 6
160 3
338.1
411.5
102.3
99.3
99.5
.61
.81
1.41
1 174 5
440 5
207 3
78.8
110 4
.72
.81
1.53
.68
.81
1.53
mil Ib
do
do
do
266.6
103.6
277.2
114.6
228.7
83.9
187.3
78.2
222.1
26.8
17.6
5.7
18.6
6.6
13.9
3.2
19.0
7.1
13.9
5.6
223.3
26.9
15.8
6.3
15.4
4.6
13.9
6.9
18.1
7.0
15.0
7.3
220.8
28.5
17.7
7.2
16.7
7.3
13.9
6.6
17.5
6.8
16.9
8.7
220.2
29.1
19.0
9.3
222.7
2
9.0
24.0
12.3
19.7
7.5
23.5
9.0
19.5
7.2
21.7
7.7
$ per Ib—
_ do
do—. -
1.349
1.171
1.259
1.215
.910
1.153
1.213
.945
1. 175
1, 175
.918
1, 125
1.175
.895
1. 125
1.235
.975
1.175
1.245
- .938
1.175
1.237
.895
1.165
1.225
.838
1.125
1.225
.825
1.125
1.177
.825
1.125
1.165
.835
1.162
1. 165
.825
1.175
1.165
.825
1. 175
1.178
.825
1.175
91.9
92.5
90.0
90. 0
89.4
88.2
87.8
87.8
WOOL MANUFACTURES
Knitting yarn, worsted, 2/20s-50s/56s, American
108.2
system, wholesale price
1957-59=100—
98.2
91.0
92.6
91.6
Wool broadwoven goods, exc. felts:
Production (qtrly.) __•_
mil. lin. yd..
237.4
61.8
264.9
Price (wholesale), suiting, flannel, men's and
boys', f.o.b. mill
1957-59=100
102. 7
102.7
101. 5
101. 7
101. 5
T
2
Revised.
1 Season average.
-por 5 weeks, other months, 4 weeks.
3 por month
shown.
* Average for Aug.-Dec,
s Margins for 5 blends, Sept. 1967; 78.50 cents; margins
6
for 4 blends, Jan. 1968, 71.92 cents. See note "*."
Revised total; revisions not distributed
by months.
? For ten months.
HFor the period Sept. 1967-Feb. 1968, 14 markets; beginning Mar. 1968, 12 markets.
1,897
2 131
2
19.6
25.1
65 9
52.7
1.190
.825
1.175
57 0
100.5
101.8
100.5
101.8
100.5
101.5
101.5
101.5
*New series. Beginning Aug. 1966, mill margins refer to weighted averages of over 70 types of
unfinished carded yarn cloths and to simple averages of 8 combed yarn cloths and 4 polyester
cotton blends (Oct. 1967-Jan. 1968, 5 blends); no comparable data prior to Aug. 1966 are
available. Spun yarn price (BLS) available beginning Jan. 1965.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
S-40
1966
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
May 1968
1967
1967
Annual
Mar.
July
June
May
Apr.
1968
Sept.
Aug.
Oct.
Dec.
Nov.
Jan.
Feb.
Mar.
15,371
16, 671
18, 197
19, 151
1,603
269
••1,894
••311
1,716
291
995 r 1, 244
9,919 ' 11, 738
1,147
12, 633
r 1, 918
2,221
Apr.
TEXTILE PRODUCTS—Continued
APPAREL
Hosiery, shipments
Men's apparel, cuttings:
Tailored garments:
Suits
Overcoats and topcoats.
r
T
r
r
18,679
r
19,864
T
16,007 r 19,933
r
18,927 ' 20,203 ' 19,873
r
thous. doz. pairs
210, 425
thous. units
do
'r20, 412
4, 055
18, 904
3,812
1,724
331
1,532
365
1,538
390
1,726
395
880
278
1,639
361
1,649
290
1,774
345
1,840
335
' 13, 344
!43 852
12, 659
133 762
1,176
12 322
1,090
10, 571
1, 115
11 202
1, 084
12, 019
623
8, 927
1,039
12, 219
1,104
11,337
1,116
11, 624
1,159
11, 594
' 24, 932
25, 985
2,469
2,129
2,070
2,061
1,504
2,255
2,087
2,417
2,288
1,846
' 6, 106
' 4, 081
7,042
3, 777
648
372
596
314
636
341
669
331
441
232
606
324
709
303
642
308
490
307
584
272
'23 999 «21 202
273, 491 283 398
'11 292
8 388
1 259
30 453
823
923
27,523
554
1 419
25 359
543
1,759
1,776
23,693 19, 256
592
702
2,215
25, 311
715
2,090
20, 956
547
2,177
22, 882
698
2,148
22, 119
728
' 17, 141 14,064
' 9 582 8 582
1 350
792
1,271
790
1,218
784
1,145
687
1,356
754
1,152
578
Coats (separate) , dress and sport
do
Trousers (separate) , dress and sport
do
Shirts (woven fabrics) , dress and sport
thous. doz
Work clothing:
Dungarees and waistband overalls
do
Shirts.- do
Women's, misses', juniors' outerwear, cuttings:
Coats
thous units
Dresses
do
Suits
do
Blouses, waists, and shirts
Skirts
thous. doz
do
r
r
223 482
19 208
17,835
1 209
724
1,179
808
961
801
' 480
'275
580
292
1,543 r 1, 770
18,962 * 24, 379
630
'847
2,101
25, 598
972
"•1,157
'522
1,320
629
867
398
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders, new (net), qtrly. total
mil. $
U.S. Government
do
Prime contract
do
5
Sales (net), receipts, or billing ? Qtrly total do
U.S. Government
do
27,223
16 351
24 219
20 227
14 530
26
18
24
23
16
887
530
413
438
329
5,193
3 613
4,586
5 171
3 717
7,438
4 727
6,864
5 925
4 076
6,798
4,648
6,160
5,682
3,985
7,458
5,542
6,803
6,660
4,551
Backlog of orders, end of period 9
do
U.S. Government
do
Aircraft (complete) and parts
do
Engines (aircraft) and parts
do
Missiles, space vehicle systems, engines, propulsion units, and parts
mil $
Other related operations (conversions, modifications), products, services
mil $
27 547
15 711
14, 655
3 824
30 722
17 750
16, 377
4 251
30 754
15, 975
17, 446
3 861
28 964
16 142
15, 508
3 957
29,921
16,758
15,708
4,487
30, 722
17, 750
16, 377
4, 251
Aircraft (complete):
Shipments ©
Airframe weight ©
Exports.
do
thous Ib
mil. $
_
4 510
5 704
4 740
4 833
5,104
5,704
2 492
2 629
2 668
2 578
2 595
2,629
2 087. 0
43 983
553.7
2 981 5
56 694
786.5
261.8
5 134
78.7
224 9
4 329
62.3
262.0
4 984
55.2
259 8
4 803
71.9
220.9
4 133
52.4
281.5
4 920
46.3
243.2
4 531
85.6
273.2
5 239
48.7
296.6
5 367
95.2
381.2
6 645
95.3
337.9
6,043
127.5
10, 329. 5
9 943 5
8, 598. 3
8, 336. 9
1, 731. 1
1 606.6
8,976.2
8 484 6
7, 436. 8
7, 070. 2
1,539.5
1 414.4
833. 4
785 1
684.1
647.4
149.3
137 7
792.2
749 4
659.8
628.3
132.4
121.1
898.3
848 7
750.3
713.4
148.0
135.3
911.7
865 2
765.3
732 3
146 4
133 o
530.8
506.3
425.5
410.6
105.3
95.6
324.2
300.8
231.6
218. 3
92. 6
82.5
710.5
670 3
601.0
570.6
109.5
99.7
751.9
706.9
645.4
608.8
106.5
98.1
807.7
761.8
683.0
645.2
124.7
116.5
957.8
903.9
813.9
768.5
144. 0
135.4
177. 58
12.72
78.64
6.79
10.70
280 58
11.08
82 24
6 00
10.99
31.41
.96
7 54
.53
1.14
26.69
.81
7.75
.57
1.19
25.85
1.33
9.09
.57
1.19
15 81
1 13
8 24
58
1 18
13.32
.92
8.87
.37
.76
10. 69
.93
5 80
.56
.88
21.56
.74
5.27
.62
.96
25.76
1.02
5.09
.47
.45
26.74
.69
5.16
.42
.76
913. 21 1 020 62
5.75
4.99
42.96
75.07
88 46
.31
7.28
66.97
.21
6.06
80 66
.45
7.42
94 46
25
9.43
85.06
.32
7.44
44.98
.28
2.59
68.97
.43
5.58
98.07
.48
5.07
354.6
6 359
145.6
358.4
6 741
78.7
937.5
889.3
787. 0
747.2
150.4
142. 1
847.6
801.4
703.2
668. 2
144.3
133.2
968.0 i 960. 5
917.7
800.7 i 791. 3
764. 0
167.3 i 169. 2
153. 7
37.13
.80
6.15
.34
.52
35.09
.72
5.99
.55
.71
29.34
.71
7.29
.38
.57
30.92
.78
7.63
.45
.34
100.48 110. 67
.82
.91
8.88
3.13
145. 98
.42
9.23
121. 37
.54
9.74
112. 32
.69
8.09
r
MOTOR VEHICLES
Factory sales, total
Domestic
Passenger cars, total
__
Domestic
Trucks and buses, total _
Domestic
thous__
do
do
do
do
do
Exports:
Passenger cars (new), assembled
do
Passenger cars (used)
_
do
Trucks and buses (new) , assembled
do
Trucks and buses (used)
do
Truck and bus bodies for assembly
do
Imports:
Passenger cars (new) , complete units
do
Passenger cars (used) _
do
Trucks and buses, complete units
do
Shipments, truck trailers:
Complete trailers and chassis
number
Vans__ __
do
Trailer bodies and chassis (detachable), sold
separately
number
Registrations (new vehicles) : O
Passenger cars
Foreign cars
Trucks (commercial cars)
thous
do
do
3
113, 493
75, 527
96 539
59, 147
10 111
6,309
7,990
4,829
8 820
5,376
7 483
3,999
6,492
3,684
7,485
4, 336
7,871
4,619
8,787
5,549
7,884
5,161
7,209
4,757
7,839 '8,881 10, 131
5,028 ' 5, 713 6,725
18, 402
27 497
2 377
3,431
2 898
2 227
2,866
2,784
1,869
1,787
2, 326
1,447
2,063
2 9 oog 5 2 g 361 9
2 658. 1 2 780 6
2
1,610. 4 21 518.9
670 8
57 5
132 2
786 1 a a807 4
63.3
70 0
144.6 a 139. 0
r
2, 192
2,183
5793 5 b 742 8 b 716 2 b 543 5 b 696 4 6 632 5 z> 724 7 °647 8 a 594 g b 712 7
» 66 7 & 65.4 683.9 » 67.6 * 72.3 & 63. 1 ' * 65. 8 «61.2 « 60.7 •6 73.7
&139 5 » 130. 7 & 141. 1 & 119. 2 » 115. 7 & 106.2 & 120. 4 « 117. 6 « 110. 0 & 130. 8
RAILROAD EQUIPMENT
Freight cars (ARCI):
Shipments
Equipment manufacturers total
Railroad shops domestic
number
do
do
90 349
67 944
22 405
83 099
64 779
18 320
9 156
7 054
2 102
8 311
6 466
1 845
6 344
5 094
1 250
8 458
7 049
1 409
5 686
4 776
910
6 916
5 779
1 137
6 262
4 344
1 918
6 039
4 291
1 748
5 122
3 958
1 164
4,169
3 244
925
7 294
6 757
537
2,365
2 140
225
6,347
2 338
4 009
4,608
3 948
660
2,378
2 352
' 26
6,209
3 365
2 844
32,493 30, 730
24,3"T3 23, 007
8,120
7,723
27,063
20, 361
6,702
26, 483
16, 712
9,771
24, 819
16, 306
8,513
21, 082
14, 311
6,771
21, 828
13, 730
8,098
New orders.
Equipment manufacturers total
Railroad shop*' domestic
do
do
do
99, 833
73 190
26 643
'53 849
38 614
r 15' 235
5 028
3 824
1 204
1,728
1 444
284
Unfilled orders, end of period
Equipment manufacturers, total
Railroad shops, domestic
do
do
do
56, 618
40, 426
16, 192
24 917
14, 276
10 641
42, 055
32, 049
10, 006
34, 960
26, 515
8,445
1,497
4.8
1 482
51
1,498
50
1,499
51
1,496
52
1,498
52
1,497
5.5
1,496
5.5
1,496
5.4
1,493
5.3
91 58
6L19
93 16
62.85
92 25
61.60
92 51
61.72
92 60
6L87
92 90
62^04
93 01
62.14
93 30
62.36
93 50
62.' 46
93 54
62*. 64
Freight cars (revenue), class 1 railroads (AAR):§
Number owned, end of period
thous
Held for repairs, % of total owned
Capacity (carrying), aggregate, end of period
Average per car
. _
ton?
2
"•Revised.
1 Preliminary estimate of production.
Annual total includes revisions not
distributed by months.
3 Revised to reflect Jan.-Apr. imports from Canada of new and
used cars and other motor vehicles not specifically identified; beginning May 1966, data refer
to total imports (incl. those from Canada) of new, on-the-highway, four-wheeled passenger
automobiles. Revised Jan.-Apr. 1966 data (thous.): 77.9; 73.0; 93.7; 59.0.
aQmits data for
5 487
3 991
1 496
4,713
3,871
842
5 754
4 358
1 396
r
5 712
3,978
1 734
4,757 '5,609
8, 310
4 551 3,627 '2,809
'3 759 1 130 2 800
4,188
3,408
780
24,917
14, 276
10,641
24,893
14,024
10, 869
24, 742
12,469
12, 273
22,933
11,894
11,039
1,492
5.2
1,482
5.1
1,480
5.3
1,478
5.3
1, 478
5.2
93 60
62.74
93 16
62*. 85
93 71
63.33
93 41
63! 18
93.55
63.30
two States.
&Omits data for one State.
'Corrected.
9 Total includes backlog for nonrelated products and services and basic research.
0Data include military-type planes shipped to foreign governments.
©Courtesy of R. L. Polk & Co.; republication prohibited.
^Excludes railroad-owned private refrigerator cars and private line cars.
TO
SECTIONS
General:
Business indicators. , , . . » . , . . » , . , , . , . . , . . . . ,
Commodity prices. ...*......,„.,... v' ..... , .
Construction and real estate* . . ... ... ..,.,,..,.,
Domestic trade. » . ..... „ , . , , . , ..;;. .;...,;..„
1—7
7-9
9, 10
Labor force* employment, and earnings ....... 12-16
Finance. . , . . . . . » * » + . , • » . , . . . ...... ......... 16—21
Foreign trade of the United States. ........... 21-23
Transportation and communications. . , . . , . . , . 23*24
Industry?
,
Chemicals and allied products ...... v , ..... ... 24, 25
Electric power and gas, , , , ; , . . . • . . . « . , . . , » . . . 25, 26
Food and kindred products; tobacco. . ........ 26-30
Leather and products. . , , „ . ' , » . .\ .......,,,.„..
30
Lumber and products. , ........ . . . . . . . , « . , . ,
31
Metals and manufactures. . ...',.,;,..,..',.....' 31-34
Petroleum, coat, and products. ......... ...... 34, 36
Pulp, paper, and paper products. . , . . . ........ 36* 37
Rubber and rubber products. . . . . . ....... ....
37
Stone, ejay* a**d glass products. . • . « • , . , . , . . , . . . .
38
Textile products. . . . 1 ..... .____... ...,'... ... . 38-40
Transportation equipment, ..'......,,....,,,..
40
INDIVIDUAL SERIES
Advertising..........,.,,.,...,....;..
10,11,16
Aerospace vehicles,........
40
Agricultural loans
.;,.*..*»
16
Air carrier operations. .,..•,.,..»-,....
23
Aircraft and parts,
4,6,7,40
Alcohol, denatured and ethyl.........
25
Alcoholic beverages......,.....,..,.,
11,26
Aluminum...,..,,..,...».».....,,...,..,,...
33
Apparel
.•.,'.•,'.......,,.... 1,3,4,8,9,11-15*40
Asphalt and tar products. ................
35,36
Automobiles, etc.
.1,3-9,11,12,19,22,23,40
Balance of international payments
2,3
H a n k i n g . . . . . , » . . . » « . . . , . » . » , , , , . . . . » . , . . , . . . 16,17
Barley. . . . . . . . . .
.......;!
!
27
34
Battery shipments....,,.,,,.,,
.».'..'...',..
Beef and veal ,.,,....,.,..,..
,.,,....,..,
28
Beverages.
..
.-.'.' 4, 8,11,22, 23,26
5-7
Blast furnaces, steel works* etc. > . . . . ; . » * ,
Bonds, outstanding, issued, prices, sales, yields
18-20
Brass and bronze.,».,.,.
,
33
Brick.............
,.
38
Broker's balances.
20
Building and construction materials....
7-8,
36,38
10,31,
Building costs. . „ , . » . . . » , . . » , , . . . . ' . , ,
10
Building permits. » , . . . . . , . , , . < » . . . . .
10
Business incorporations (new), failures.
7
Business sales and Inventories.........
5
Butter.
26
Cattle and calves..,...;..,•....,....,...........•
28
Cement and concrete products. „ . ' . , . , . . . » . , . , , 9,10,38
Cereal and bakery products. . . . » , . . . . . . . . . » " . . . .
8
Chain-store sales, firms with 11 or more stores. ,.
12
Cheese......,.,.
».......,.,.,,..,.
26
Chemicals.................... 4-6,8,13-15,19,22-25
Cigarettes and cigars..........................
30
Clay products................................ 9,38
Coal
,'..
4,8,22,34,35
Cocoa..
... .23,29
Coffee....................................... 23,29
Coke
35
Communication..,,.,..,.....,,,.,......».. 2,19, 24
Confectionery, s a l e s . . . . . . » . . . . « . » , . , . , . \ . . . . . . .
29
Construction;
Contracts.
.......,...;.....
9
Costs....,........,,.....,.,.....,..,.,,.;
10
Employment, unemployment, hours, earnings..'. 13-15
Fixed investment, structures.................
1
Highways and roads. ...*»..,...,.........,,, 9,10
Housing starfs.
10
New construction put in place. ,..*,,.........
9
Consumer credit.*.......,.........;
.17,18
Consumer expenditures,
1
Consumer goods output, Index..........
.»;
3,4
Consumer price Index.
;...'....';„
7,8
Copper..,,.-....,.,
33
Corn. . , . . » . ; . , . . * . , . . , . . » , < , . . . . . . . . . . . . . . / ,
27
Cost of living (see Consumer price Index).».;...,
7, 8
Cotton, raw and manufactures.,
.... 7,9,22,38,39
Cottonseed cake and meal and oil.....,....,,,,
30
Credit, short* and intermediate-term........... 4 17,18
Crops,............................ 3,7,27,28,30,38
Crude oil and natural gas....,.,..»,.,,.«....... 4,35
Currency in circulation.........»„....,.,.,:.,,,,
19
Dairy products......
............... 3,7,8,26,27
Debits, hank....,.16
Debt, ILS Government.,„...;....'.,.'...
.
18
Department stores............. * , ' , . * . . . , . • . . , . „ 11,12
Deposits, bank;
... 16,17,19
Disputes,, industrial.
;..
16
Distilled spirits...............................
26
Dividend payments, rates, and yields....... 2,3» 18-21
Drug stores, sales. . . * . . . » , . . . . . . , , . ; . , . » , . . , , ,11,12
Earnings, weekly and hourly
14,15
Eating and drinking places.................... 11,12
Eggs and poultry..
3,7,28,29
Electric power,
4,8,25,26
Electrical machinery and equipment............ 4-8,
13-15,19,22,23,34
Employment estimates.
1 - 5
21
Employment Service activities .,....*..........
16
Expenditures, U,S Government
18
Explosives
25
Exports (see also individual commodities).... 1,2,21-23
Express operations....,
23
Failures, industrial and commercial,............
7
Farm income, marketings, and prices.......... 2,3,7,8
Farm wages............................
...
15
Fats and ©Us......................... 8,22,23,29,30
Federal Government
finance..,.,.,.....,,...,.
18
Federal Reserve banks, condition of.
16
Federal Reserve member banks.................
17
Fertilisers,
8,25
Fire losses. .......................
.......
10
Fish oils and
fish.,..,........,,,,,.........,»
29
Flooring, hardwood
31
Flour, wheat.
.............. 28,29
Food products
1,4-8,11-15,19,22,23,26-30
Foreclosures, real estate
......
10
Foreign trade (see also individual commod.)..... 21-23
Foundry equipment.». \
.. * » ,
34
Freight cars (eo^ipment)
4,40
Fruits and vegetables. . . . * . . , . . . . » . . . » . . . . . . . .
7,8
Fuel OH....................
35,36
Fuels....,,.,,.,,.,.»,.,.,..,.,... 4,8,22,23,34-36
Furnaces........,.,.,........,.,.....,.,,,,,
34
Furniture.
4,8,11-15
Gas, output, prices* sales, revenues.
4,8,26
Gasoline.....................
1,35
Glass and products. * , » . . , . , , » , . . , » .
38
Glycerin
,+ ...........................
25
Gold..................
19
Grains and products..,
7,8,22,27,28
Grocery stores
11,12
Gross national product.
1
Gross private domestic Investment.....
.
1
Gypsum and products.
.. 9,38
Hardware stores.
11
Heating equipment.
9,34
Hides and skins.
8,30
Highways and roads
9,10
Hogs.
28
Home electronic equipment.
8
Home Loan banks, outstanding advances........
10
Home mortgages.............................
10
Hosiery.,,.....
40
Hotels
;.
24
Hours of work per week.
14
Housefurnishings.
1,4,8,11,12
Household appliances, radios, and television sets.
4*
8,11,34
Housing starts and permits.
10
Imports (see also individual commodities)
1, 22,23
Income, personal.
2,3
Income and employment tax receipts.
18
Industrial^production indexes:
By industry.
3*4
By market grouping........................
3* 4
Installment credit.............;
....... 12,17,18
Instruments and related products.......... 4-6,13-15
Insurance, life
18,19
Interest and money rates
,
17
Inventories* manufacturers* and trade
5,6,12
Inventory-sales ratios.
6
Iron and steel............ 4,5-7,9,10,19,22,23,31,32
Labor advertising index, strikes, turnover.
16
Labor force
,
* . ' . . . . , . . , . . . » . , . , . . , 12,13
Lamb and mutton
28
Lard..,.
28
Lead.
33
Leather and products. ..*......
4,8,13-15,30
Life insurance.
18,19
Linseed oil
30
Livestock,.,
3,7,8,28
Loans, real estate, agricultural, hank, brokers*
(see also Consumer credit).......... 10* 16,17,18,20
Lubricants.
35,36
Lumber and products
4,8,10-15,19, 31
Machine
tools.
34
Machinery............
4,5-8,13-15,19*22,23,34
Mail order houses, sales.
i.......
1
1
Man-hours, aggregate, and indexes. ............
14
Manmade fibers and manufactures........
.. 9,39
Manufacturers* sales (or shipments), Inventories*
orders.
4-7
Manufacturing employment* unemployment* pro*
duction workers, hours, man-hours, earnings... 13-15
Manufacturing production Indexes. , . . , . . ' * . , . . . .
3,4
Margarine.
i
29
Meat animals and meats........
. 3,7,8,22,23,28
Medical and personal care.....................
7
Metals.
4-7*9*19,22,23,31-33
Milk.,
,,,,
,
27
Mining and minerals. ,
2-4,9,13-15,19
Monetary statistics.................
......
19
Money supply.
19
Mortgage applications, loans, rates....... 10,16,17,18
Motor carriers. ..**.........,..............., 23,24
Motor vehicles.............. 1,4-7,9,11,19,22,23,40
Motors and generators.
34
National defense expenditures..,.;........,»... 1,18
National income and product,,,...,..,........
1,2
National parks, visits....\....................
24
Newsprint
» » . . , . , . 23,37
New York Stock Exchange, selected data.;.,.,.. 20,21
Nonferrous metals......,.,....,.,.. 4,9* 19,22,23, 33
Noninstallment credit.... ,,*»....,..;.......,.
17
Oats........
*..................
27
Oil burners
34
Oils and fats
s , 8,22,23,29,30
Orders, new and unfilled, manufactures*.........
6,7
Ordnance...... t ...,.......;....;..,._._ t , . 13^15
Faint and paint materials...................... 8» 25
Paper and products and pulp.................. 4-6,
9*13-15,19*23*36,37
Parity ratio,...,...,,....,,..,......,........
7
Passports issued............. i........,,
24
Personal consumption expenditures.».».,,,.,.,,»
1
Personal income.,.,..»,..;......»,,..,.,,,.., k.
2* 3
Personal outlays.......,.»...........,..,.,.,.
2
Petroleum and products....................... 4-6,
8,11,13-15,19,22*23,35*36
Piglron.
*.i......................
32
Plant and equipment expenditures.
2,20
Plastics and resin materials.
i......
25
Population.,.....,,.».....,..,
12
Pork.........,.......,,,...,,.,..,..........
28
Poultry and eggs..;,......;....;
3,7,28,29
Prices (see also individual commodities).;.....,.
7-9
Printing and publishing.................. 4 . . 4,13-45
Profits, corporate....,,...........,,,,,,,..... 2,19
Public utilities, i
.'
... 2-4* 8,9,13* 19-21
Pullman Company............. i..............
24
Pulp and pulp wood.,.... -.....................
36
Purchasing power of the dollar
9
Radiators and convectors. „ . . , . , . . . . , . . , . , . , » , »
34
Radio and television................. + ... 4, W, 11,34
Railroads,.................. 2,15,16,19,20* 21* 24,40
RaHways (focal) and bus lines.
.............
23
Rayon and acetate.
*;*..........
39
Real estate............................... 10,17,18
Receipts, ILS. Government....................
18
Recreation......;..........,..
8
Refrigerators and home freezers................
34
Rent (housing)...............................
7
Retail trade.....
... s ..
5,8,11-15,17,18
Rice...
,.,.,..»,,.„...,....,.,..,,....
27
Roofing and siding, asphalt
36
Rubber and products (incl* plastics)............ 4-6,
9,13-15*23*37
Saving, personal.....................,...;....
2
Savings deposits.........,.;.
17
Securities issued..
........................ 19,20
Security markets.
.. 20,21
Services.
1,7,13
Sheep and lambs................ ^............
28
Shoes and other footwear................. 8, It* 12,30
Silver.......................................
19
Soybean cake and meal and oil,................
30
Spindle activity* cotton.................t .....
39
Steel (raw) and steel manufactures ............. 31* 32
Steel scrap..
........
31
Stock prices, earnings* sales, etc................ 20,21
Stone* clay, glass products......... 4-6,8,13-15,19,38
Stoves and ranges.. v"«..'. ....,.*....,.,...,.,.
34
Sugar. .....,........<..,.,...,,............. 23,29
Sulfur.,,...,,..............,;,...,..,..
25
Sulfuric acid.,,
.....,.....,,,....*.....
24
Superphosphate.
..,,...,,,.,.
25
Tea imports.
-..................
29
Telephone and telegraph carriers
24
Television and radio
. . . . . . . . . . . . . . . . . 4* 10,11, 34
Textiles and products..,. 4-6,8,13-15,19,22,23,38-40
Tin
.............
33
Tires and inner tubes....,.,
9,11,12,37
Tobacco and manufactures,....... 4-6,9,11,13-15,30
Tractors.
,
34
Trade (retail and wholesale).
'5,11*12
Transit lines, local.,...........;,... ^
23
Transportation...................... 1,2*8,13,23,24
Transportation equipment.......-..-.. 4-7,13-15,19,40
Travel............
I ..k., ..*............ 23,24
Truck trailers.,,....................,..;,,..,
40
Trucks (industrial and other).,...........
.. 34,40
Unemployment and insurance.,.,.,
12,13,16
U.S. Government bonds
, . . . , , , . . , . . . , . . 16,17,20
U.S. Government
finance......'.,;.-..;.;..,....
18
Utilities
......
-......... 2-4,9,13,19-21,25,26
Vacuum cleaners. . . . . . . « . « . , , . . . . » . . * . . . * . . . *
34
Variety stores.
11,12
Vegetahleoils
29,30
Vegetables and fruits..........................
7,8
Veterans* benefits............,...,..,,..... I.. 16,18
Wages and salaries..,..............;..,.., 2,3,14,15 !
Washers and driers...,...,;........,......,..
34
Water heaters................................ , 34
Wheat and wheat
flour,,...,.......,..........
28
Wholesale price indexes. ...,......*........*,. 8,9
Wholesale trade.
5,7,11,13-15
Wood pulp..............,.....,..,.,..,.,...
36
Wool and wool manufactures.............,...., 9,39
Zinc.
33
UNITED STATES
GOVERNMENT PRINTING OFFICE
POSTAGE AND FEES PAID
O.S. GOVERNMENT PRINTING OFFICE
H V I S I O N OF PUB!
WASHINGTON, D.C. 20402
First-Class Mail
OFFICIAL BUSINESS
AND
in Si
ftr
202
I
ail
ti
ail
f§r all
ail
ii
7,580
I
I
aitf
frsw
date
by SLS
ftr ail
SLS
S18
8, 0, i i i sf
i
AND
cmd Monffely Report on fftt Lsl»f Fotct
All
SLS
- 1**'
Make check or money order payable to the Superintendent of Documents and send order to
Government Printing Office, Washington, D. C., 20402 or
Any of the BLS Regional Offices listed on the inside back cover
Enclosed find $
;—for
subscriptions to Employment and Earnings and Monthly Report
on the Labor Force Subscription price: $7 a year ($1.25 additional for foreign mailing.)
i
fiC
Ul
Enclosed find $.for.
. copies of Employment and Earnings Statistics for the
United States, 1909-67, Bulletin 1312-5., Price $4.75 a copy,,
Enclosed find $
for
: copies of Employment and Earnings Statistics for States
and Areas, 1939-66, Bulletin 1370-4. Price $5.00 a copy.
Company or Organization:
Street
;
j
City
Attention of
Zip code
State
Name
Title
@FedFRASER