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MAY 1976 / VOLUME 56 NUMBER
SURVEY OF CURRENT BUSINESS
CONTENTS
THE BUSINESS SITUATION
1
Price of the SURVEY OF CURRENT BUSINESS
1
Revised First Quarter GNP
1
National Income and Product Tables
3
Manufacturing and Trade Inventories and
Sales in Constant Dollars, 1959 to First Quarter 1976
11
U.S. Department of Commerce
Elliot L. Richardson / Secretary
Sales by Majority-Owned Foreign Affiliates
of U.S. Companies, 1974
25
Benchmark Survey of Foreign Direct Investment
in the United States, 1974
35
ERRATA
52
Bureau of Economic Analysis
George Jaszi / Director
Morris R. Goldman / Deputy Director
SURVEY OF CURRENT BUSINESS
Editorial Board: Jack J. Batne, Carol S. Carson,
John E. Cremeans, Martin L. Marimont, Beatrice
N. Vaccara, Charles A. Waite, Allan H. Young
Editor: Dannelet A. Grosvenor
Statistics Editor: Leo V. Barry, Jr.
Graphics Editor: Billy Jo Hurley
Contributors To This Issue: William K. Chung,
David T. Dobbs, Gerald F. Donahoe, Shelby W.
Herman, John C. Hinrichs, Allan H. Young,
International Investment Division
CURRENT BUSINESS STATISTICS
General
S1-S24
Industry
S24-S40
Subject Index (Inside Back Caver)
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N.J., Newark O71O2
4th Floor Gateway Bldg. 645-6214
PA., Pittsburgh 15222
1000 Liberty Ave. 644-2850
UTAH, Salt Lake City 84138
125 South State St. 524-5116
VA., Richmond 2324O
8010 Federal Bldg. 782-2246
WASH., Seattle 981O9
Rm. 706 Lake Union Bldg. 442-5615
COLO., Denver 80202
19th & Stout St. 837-3246
IOWA, Des Moines 503O9
210 Walnut St. 284-4222
CONN., Hartford O61O3
450 Main St. 244-3530
LA., New Orleans 70 ISO
432 International Trade Mart 589-6546
316 D s
N. MEX., Albuquerque 871O1
Courthouse 766-2386
P.R., San Juan OO902
100 P.O. Bldg. 723-4640
FLA., Miami 33130
25 West Flagler St. 350-5267
MD., Baltimore 21202
415 U.S. Customhouse 962-3560
N.Y., Buffalo 14202
111 W. Huron St. 842-3208
S.C., Columbia 29204
2611 Forest Dr. 765-5345
WIS., Milwaukee 532O2
517 E. Wisconsin Ave. 224-3473
CA., Atlanta 30309
1365 Peachtree St., N.E. 526-2470
MASS., Boston O2116
441 Stuart St. 223-2312
N.Y., New York 1OO07
26 Federal Plaza 264-0634
TENN., Memphis 38103
147 Jefferson Ave. 534-3213
WYO., Cheyenne 820O1
2120 Capitol Ave. 778-2220
W. VA., Charleston 25301
500 Quarrier St. 343-6181
the BUSINESS SITUATION
LEVISED estimates put the real increase in first-quarter GNP at 8% percent, as compared with 7% percent
shown last month. With inflation as
measured by the GNP implicit price
deflator remaining at 3% percent, the
increase in current-dollar GNP is 12%
percent, also up 1 percentage point from
the preliminary estimates.
The principal factor in the upward
revision is a somewhat higher estimate
of inventory accumulation. Revisions in
final sales are also small. An upward
revision of the services component of
personal consumption expenditures
reflects higher estimates for electricity
and medical care. The fractional upward revision in nonresidential fixed
investment is spread across all of its
major components. Revisions in exports
and imports are largely offsetting.
There are offsetting upward revisions in
merchandise exports and imports, and
the net outflow of foreign investment
income is a little larger than in the
preliminary estimates.
First-quarter 1976 corporate profits
Preliminary estimates show that
profits from current production—corporate profits with inventory valuation
and capital consumption adjustments—
were up $9 billion at a seasonally
adjusted annual rate from the fourth
quarter of 1975. The increase was
largely in domestic profits of nonfinancial corporations, which were up about
$7 billion. Domestic profits of financial
corporations and profits from abroad
accounted for the rest of the increase.
The increase in domestic profits of
nonfinancial corporations was widespread. The bulk was in manufacturing,
where profits increased in both durable
and nondurable manufacturing. The
largest gains appear to have been in
primary metals, motor vehicles, food,
and petroleum.
Before-tax book profits were up $8%
billion from the fourth quarter of 1975.
These profits differ from profits from
current production for two reasons.
First, they reflect tax-return based
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SUEVEY OF CUKEENT BUSINESS
capital consumption allowances, rather
than "economic" capital consumption
allowances that are based on uniform
service lives and depreciation formulas
and replacement cost valuation. Second,
they include inventory profits, which
arise because inventories used up are
valued at historical rather than at
replacement cost. The effects of these
differences on the change in profits
were largely offsetting in the first
quarter.
Profits from current production have
increased more than 50 percent from
the recession low of $79 billion in the
first quarter of 1975, to $122 billion
in the first quarter of 1976. Before-tax
book profits show almost as large an
increase. They were up 45 percent,
from $97 billion to $141 billion.
Federal sector of NIPA's in the first
quarter
The economic recovery was reflected
in a decrease in the Federal deficit as
measured in the NIPA's. Substantial
increases in profits and wages helped
boost receipts $10 billion; declining
unemployment and slowing inflation
limited the increase in expenditures to
$7 billion. As a result, the deficit
amounted to $69 billion at an annual
May 1976
rate, $3 billion below the $72 deficit in 1975. Indirect business taxes fell $2%
the fourth quarter.
billion, largely because of termination
The deficit for fiscal 1976 as a whole in late December of the $2 per barrel
will be below the January budget petroleum import fee; the telephone
estimate (see the February SURVEY for excise tax was reduced from 7 percent
discussion of the budget). Expenditures to 6 percent effective January 1.
will be lower and receipts higher than
Most of the increase in expenditures
previously estimated. The Treasury has was in transfer payments. They inreduced its earlier estimate of fiscal creased over $5H billion, including $2
1976 borrowing about $5 billion.
billion due to the earned income credits
Almost all of the first-quarter in- and $1 billion due to a speedup in life
crease in receipts was due to economic insurance dividends paid to veterans.
recovery. Tax changes increased social Cost-of-living increases raised payments
insurance contributions and corporate for food stamps, military retirement,
taxes, and reduced indirect business and certain other programs. The intaxes and personal taxes, but these creases were relatively small, reflecting
changes had little impact on total the slower growth in consumer prices.
receipts. Social insurance contributions Unemployment insurance benefits derose about $6% billion, including over clined. Grants-in-aid to State and local
$2 billion attributable to an increase governments increased nearly $1% bilin the maximum taxable earnings for lion, mainly due to welfare programs.
social security from $14,100 to $15,300, Purchases and interest payments inand almost $2 billion to higher average creased moderately. Slowing inflation
rates for employers paying unemploy- also was a factor limiting growth of
ment insurance contributions. Corpo- purchases. Subsidies (less the current
rate taxes rose $3% billion, including surplus of government enterprises) deabout $% billion due to provisions of clined nearly $2 billion, principally due
the Tax Eeduction Act of 1975, mainly to the December increase in postal rates.
relating to foreign tax credits and
foreign income deferral. Personal taxes Special table
rose $2% billion, despite heavy refunds
stemming from the home purchase
The reconciliation of changes in
credit and earned income credit pro- compensatioD per hour and average
visions of the Tax Eeduction Act of hourly earnings is shown in table 1.
Table 1.—Reconciliation of Changes in Compensation Per Hour and Average Hourly
Earnings, Private Nonfarm Economy, Seasonally Adjusted
1976
19 75
I
II
III
9.1
6.8
8.7
6.5
7.6
.9
.2
.0
.1
1.4
3. Less: Contribution of employees of private households and government enterprises and
self-employed and unpaid family workers
— 5
1
.9
—.2
-.2
4. Equals: Wages and salaries per hour, all employees except private households and government enterprises (percent change at annual rate)
87
6 5
78
66
6.4
5. Less: Contribution of supervisory and nonproduction workers, non-BLS data, and detailed weighting, total
26
10
o
—1.5
-.5
2.3
9
.3
.0
.5
5
.2
.3
-.7
— 7
.3
.4
-.6
.0
-.1
-.8
-.5
-.5
-.1
.1
6. Equals: Average hourly earnings, production and nonsupervisory workers, obtained
from seasonally adjusted industry components (percent change at annual rate) - . 6.1
1. Compensation per hour of all persons (percent change at annual rate)
2. Less: Contribution of supplements
Commodity-producing industries
M anuf acturing
D istributive industries
Service industries
_ .
- - .. .
-..--.--_. .
_-.
-
7. Less* Contribution of seasonal adjustments by industry
8. Equals: Average hourly earnings, production and nonsupervisory workers (percent
change at annual rate)
-- - - -
IV
I
5.5
7.8
8.1
6.9
—1.1
.3
.5
-.3
-.7
7.2
5.2
7.3
8.4
7.6
SURVEY OF CUEEENT BUSINESS
May 1976
NATIONAL INCOME AND PRODUCT TABLES
1974
1974
1975
1975
IV
II
I
1976
III
IV
I*
1974
1974
1975
1975
I
IV
Seasonally adjusted at annual rates
II
1976
III
IV
I*
Seasonally adjusted at annual rates
Billions of current dollars
Billions of 1972 dollars
Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
1,406.9 1, 498. 9 1,441 3 1 433 6
Gross national product
Personal consumption expenditures
Durable goods
Nondurable goods Services
_
-
Gross private domestic investment
460 6
528 5 1 572 9 1 619 2 1,210 7 1 186 11 186 8
158 6 1 168 11 201 5 1 216 2
885.9
963.8
908.4
926.4
950.3
977.4 1 001.0 1, 029. 6
759.8
766.9
748.9
752.3
764.1
121.9
375.7
388 3
128.1
409.8
426 0
117 3
387.1
404 0
118 9
394 1
413 4
123 8
404 8
421 6
131 8
416.4
429 2
137 6
423 7
439 7
145.9
430 8
452 9
112 5
303 0
344 4
109 5
306 6
350 7
102 9
298 9
347 2
104 0
300 8
347 5
106 5
306 9
350 8
1 241 2
771.6
779 4
794 5
112 3
308 0
351 2
115 3
310 7
353 3
120 8
315 7
358 0
212 2
182.6
210 3
168 7
161 4
194 9
205 4
232 2
180 0
138 3
166 9
129 7
124 1
147 8
151 4
168 1
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
Nonfarm structures
- Farm structures.-. ...
. .. .. . _
Producers' durable equipment
202 5
147 9
54 4
93 5
54 6
52 2
1.0
13
197 3
148.5
52.7
95.8
48.7
46.8
.6
13
199 8
151 1
56 1
95 0
48 7
46 3
1.2
13
193 5
149 3
54 9
94 4
44 2
42 6
4
12
191 1
146 1
51 1
95 0
45 0
43 1
.5
13
197
146
51
95
50
48
1
7
2
6
4
2
g
14
207 4
151 9
53 6
98 3
55 4
53.3
7
14
216 7
158 1
55 5
102 6
58.6
56.5
.7
15
172
127
42
84
44
42
2
5
7
9
7
6
8
13
148 8
112 2
37 2
75.1
36.6
35.0
.4
1i
159 3
120 8
40 5
80.3
38.5
36.4
.9
12
148 7
115 2
38 9
76 3
33 6
32 3
.3
10
144 8
110 8
36 2
74 7
34 0
32 4
.4
1i
148 7
110 6
36 2
74 5
38 0
36 2
.6
12
153 0
112 3
37 4
74 9
40 7
39 0
.5
12
157 5
115 5
38 5
77.0
42.0
40.2
.5
1.2
Change in business inventories
Nonfarm
Farm
9 7
11 6
—19
—14.6
—16 5
19
10 4
13 7
—3 2
—24 8
23 3
—1 5
—29 6
29 6
_ i
—2 1
—5 7
36
—2 0
—7 5
56
15.5
11 3
4 2
7 7
85
.,_ g
—10.5
—11 8
13
7.6
90
—1 5
— 19.0
— 17 9
—1 2
—20 7
—20 6
_ i
— .8
—3 3
2 5
—1 6
—5 3
37
10.7
7.8
2.9
7.7
21.3
82
17 3
24 2
22 1
21 7
8.2
16 6
23.4
17.4
21.5
24.9
23.5
23 8
16.8
94.0
70.2
93.2
76.4
_
Net exports of goods and services
Exports
Imports
.
.
-..-
Government purchases of goods and services
Federal.-. .
National defense
Nondefense
State and local . .- -..
. .._
.-.
.. _ ..
144.2
136.5
147.8
126.5
153.6
145.3
148.2
130.9
140.7
116.4
148.5
126.4
153.8
132.1
153.1
145.0
97.6
81.0
90.6
67.2
95.7
78.3
90.7
69.2
86.8
62.0
90.8
67.3
301.1
331.2
314.4
321.2
324.7
334.1
344.8
349.2
254.3
257.6
253.6
255.1
254.9
258.7
111.7
77 4
34.3
189.4
123.2
84 0
39 2
208.0
118.2
80 5
37.7
196.3
119.4
81 4
38 0
201.9
119.2
82 1
37.1
205.5
124.2
84 9
39 3
209.9
129.9
87 4
42.5
214.8
131.1
87.0
44.1
218.1
95.0
94.3
94.7
93.7
92.4
94.9
96.1
95.8
159.3
163.3
158.9
161.4
162.5
163.8
165.5
165.9
261.6
261.7
Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
Gross national product
Final sales
Change in business inventories
1,406.9 1,498.9 1,441.3 1,433.6 1,460.6 1,528.5 1, 572. 9 1,619.2 1,210.7 1, 186. 1 1, 186. 8 1,158.6 1, 168. 1 1,201.5 1, 216. 2
1,241.2
1 397.2 1 513 5 1 430 9 1 458 4 1 490 2 1 530 6 1 574 9 1 603 8 1 203 0 1 196 6 1 179 3 1 177.6 1, 188. 7 1, 202. 4 1, 217. 8
-1.6
-.8
—2 1
7.6 —19.0 —20.7
—2 0
9 7 — 14.6
10 4 —24 8 —29 6
15 5
7 7 — 10.5
1, 230. 5
10.7
636 3
676 3
647 7
635 4
653 9
698 9
716 8
739 4
549 9
530 1
531 9
510 1
518.4
542.7
549.4
566.8
Final sales
...
Change in business inventories
626.5
9.7
690.9
—14.6
637 3
10.4
660 2
—24.8
683 5
—29.6
701 1
_9 I
718 7
—2.0
723 9
15.5
542 2
77
540.7
—10.5
524.4
7.6
529.2
-19.0
539.0
-20.7
543.5
-.8
551. 0
-1.6
556.2
10.7
Durable goods _.
Final sales
Change in business inventories
246 1
238 5
75
251.1
261 7
— 10 6
254 1
239 3
14 9
229 2
243 8
—14 6
243 3
258 8
—15 5
261 9
267 5
—5 6
269 9
276 7
—68
277 5
282 0
—4 6
223 5
217 7
58
203.4
211 4
—7 9
215.9
205 2
10 7
191.6
203 4
—11.7
198.2
209 7
—11.5
210.7
214.3
-3.7
213.3
218.1
-4.7
218.3
221.4
-3.1
Nondurable goods.-.
Final sales
Change in business inventories
390.2
388 0
2 2
425.2
429 2
—4 0
393.6
398 0
—4 4
406.2
416 4
—10 2
410.6
424 7
—14 1
437.0
433 5
35
446 9
442 l
48
461.9
441 9
20 0
326 5
324 5
19
326.7
329 3
—2 6
316.1
319 2
-3.1
318.5
325 8
-7.3
320.2
329.4
-9.2
332.0
329.2
2.8
336.1
332.9
3.1
348.5
334.8
13.7
Services
624 1
681 3
649 7
659 3
672 0
688 1
705 9
725 8
544 7
554 4
548 1
548 1
552.5
556.7
560.3
566.6
Structures
146 6
141 3
143 9
138 9
134 6
141 4
150 3
154 1
116 1
101 5
106 8
100 4
97.2
102.2
106.4
107.7
Goods
Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product
Gross domestic product
Business.
Nonfarm v
Farm_
_
Statistical discrepancy
Kesidualfi
Households and institutions
Government _ _
Federal.,
State and local
Rest of the world
1,406 9 1 498 9 1 441 3 1 433 6 1 460 6 1 528 5 1 572 9 1 619 2 1 210 7 1 186.1 1,186 8 1, 158. 6 1, 168. 1 1,201.5 1, 216. 2
1,241.2
1,392 5 1 488 4 1 426 6 1 424 0 1 450 6 1 516 9 1 562 2 1 607 7 1 203 7 1 181 3 1,180 3 1, 154. 3 1, 163. 5 1, 196. 1 1,211.3
1, 236. 1
1,049.4
1, 007. 4
38.0
1 186 6 1 262 6 1 °13 2 1 205 5 1 227 4 1 289 2 1 328 3 1 369 5 1 024 4
1 138 7 1 215 2 1 161 7 1 162 9 1 191 3 1 237 5 1 269 0 1 312 1 993 5
48 5
50 1
54 4
48 6
45 8
45 1
55 0
52 1
31 5
29
— 6
—2 6
32
32
89
50
53
—.5
972.1
939 6
35.0
979.5 1,011.1 1,025.7
954.3 977.1 985.1
36.8
36.5
32.3
-2.1
2.4
-2.6
-7.1
-2.5
3.9
4. 1
38.4
38.8
39.2
39.4
39.2
39.8
44.8
49 5
46 5
47 5
48 7
50 2
51 6
52 9
38 5
39.2
161 1
54 7
106 4
176 3
58.8
117 4
166 9
56 9
110 0
170 9
57 6
113 3
174 5
58 1
116 4
177 4
58 6
118 8
182 2
61 0
121 2
185 3
61 6
123 7
140 8
47 9
92 9
145 1
47 8
97 3
141 8
47.9
94 0
143.5
47.9
95 7
144.8
47.8
97.0
145.7
47.8
97.8
146.3
47.7
98.7
146.9
47.6
99.3
14 4
10 5
14 8
96
10 0
11 6
10 7
11 5
7 o
4.8
6.5
4.3
4.5
5.4
4.9
5.1
First quarter corporate profits (and related components and totals) are preliminary and
subject
to revision next month.
1
Preliminary.
1. Equals GNP in constant dollars measured as the sum of final products less GNP in
constant dollars measured as the sum of gross product by industry.
997.1 1 000.1
965 8
964 0
31.9
35 1
NOTE.—Final sales is classified as durable or nondurable by type of product. Change in
business inventories is classified as follows: for manufacturing, by the type of product produced by the establishment holding the inventory; for trade, by the type of product sold by the
establishment holding the inventory; for construction, durable; and for other industries,
nondurable.
SUEVEY OF CUKRENT BUSINESS
4
1974
1974
1975
IV
1976
1975
I
II
May 1976
III
IV
I*
1974
1974
1975
IV
1975
I
Seasonally adjusted at annual rates
1976
II
III
IV
I*
Seasonally adjusted at annual rates
Billions of current dollars
Billions of 1972 dollars
Table 4.—Net National Product and National Income by Sector in Current and Constant Dollars (1.11, 1.12)
Net national product
Net domestic product
_ 1,272.9 1, 346. 9 1,299.3 1,288.2 1,311.1 1,373.8 1,414.4 1,456.1 1,094.0 1,063.8 1,067.6 1,038.5 1,046.8 1,078.6 1,091.4
1,115.4
1,258.5 1,336.4 1,284.5 1,278.6 1,301.1 1,362.1 1,403.6 1,444.6 1,087.0 1,059.1 1,061.2 1,034.3 1,042.3 1,073.2 1,086.5
1, 110. 3
_
Business
Nonfarm1'
Farm.
...- _ _ _ _
Statistical discrepancy. ._
Residual »L
_ _. ..
Households and institutions
Government
Rest of the world
.
_
.
_
_
,.-
National income
Domestic income.
Business
Nonfarm
Farm
. _ . .
1, 052. 5 1,110.6 1, 071. 1 1, 060. 2 1, 078. 0 1, 134. 5 1, 169. 8 1, 206. 4
907.7
874.8
880.9
852.0
858.2
888.2
900.9
923.7
1, 014. 7 1,073.9 1, 030. 0 1, 028. 0 1, 052. 4 1, 093. 5 1,121.4 1, 160. 1
38.2
39.3
44.2
43.4
38.5
35.3
34.5
40.9
884.8
23.5
849.9
27.0
854.8
23.7
827.6
26.9
841.2
24.2
862.3
28.4
868.5
28.6
889.8
29.8
-.5
38.5
140.8
-2.1
39.2
145.1
2.4
38.4
141.8
-2.6
38.8
143.5
-7.1
39.2
144.8
-2.5
39.4
145.7
3.9
39.2
146.3
4.1
39.8
146.9
-.6
-2.6
2.9
-3.2
-8.9
-3.2
5.0
5.3
44.8
161.1
49.5
176.3
46.5
166.9
47.5
170.9
48.7
174.5
50.2
177.4
51.6
182.2
52.9
185.3
14.4
10.5
14.8
9.6
10.0
11.6
10.7
11.5
7.0
4.8
6.5
4.3
4.5
5.4
4.9
5.1
1, 141. 1 1,207.8 1,161.3 1} 155. 2 1, 180. 8 1,232.5 1, 262. 6 1,301.3
977.4
947.8
948.5
924.7
935.9
962.7
968.1
990.8
1, 126. 7 1, 197. 3 1, 146. 5 1, 145. 6 1,170.8 1,220.9 1, 251. 9 1, 289. 7
970.4
943.1
942.0
920.4
931.4
957.3
963.2
985.7
920.8
971.5
933.1
927.1
947.6
993.3 1, 018. 0 1,051.5
791.0
758.8
761.7
738.1
747.3
772.3
777.6
799.1
884.0
36.7
934.7
36.8
896.9
36.2
894.2
32.9
915.7
31.9
951.7
41.5
977.3 1, 013. 3
40.7
38.2
766.1
25.0
730.2
28.6
736.6
709.4
28.7
721.6
25.7
742.3
30.0
747.6
30.0
767.8
31.2
44.8
49.5
46.5
47.5
48.7
50.2
51.6
52.9
38.5
39.2
38.4
38.8
39.2
39.4
39.2
39.8
Government
161.1
176.3
166.9
170.9
174.5
177.4
182.2
185.3
140.8
145.1
141.8
143.5
144.8
145.7
146.3
146.9
Rest of the world
14.4
iO.5
14.8
9.6
10.0
11.6
10.7
11.5
7.0
4.8
6.5
4.3
4.5
5.4
4.9
5.1
Households and institutions
Table 5. —Auto Output in Current and Constant Dollars (1.16, 1.17)
. . .
42.9
42.1
44.5
45.6
40.6
38.5
34.6
40.7
42.5
43.0
53.0
48.5
47.6
50.1
58.4
56.8
40.2
39.6
39.4
40.3
36.1
33.8
32.1
37.3
38.0
38.1
46.5
42.8
40.8
43.0
49.2
48.3
Personal consumption expenditures
New autos.
Net purchases of used autos
_. ._ _ _
Producers' durable equipment
New autos.
Net purchases of used autos
Net exports
,-.
Exports..
_.
..
Imports
Government purchases of goods and services
36.4
27.6
8.7
7.8
11.7
-3.9
-2.7
4.6
7.3
.6
37.3
29.5
7.8
9.2
12.9
-3.8
-1.6
5.5
7.1
.7
32.4
23.3
9.1
6.8
10.6
-3.8
-1.3
5.3
6.6
.6
33.7
27.4
6.2
7.9
10.8
-3.0
-1.5
4.7
6.2
.6
34.5
26.9
7.6
8.7
12.2
-3.4
-.9
5.2
6.2
.7
39.4
31.0
8.4
10.7
15.1
-4.5
-2.2
5.8
8.0
.7
41.7
32.8
9.0
9.5
13.7
-4.2
-1.9
6.3
8.2
.7
48.0
38.8
9.2
10.8
15.0
—4.2
—2.8
6.0
8.8
.7
33.4
26.2
7.2
7.5
11.1
-3.6
-1.8
31.7
25.7
6.1
8.5
11.2
-2.7
-.5
27.5
20.9
6.7
6.4
9.5
-3.1
-.7
29.9
24.5
5.4
7.5
9.7
-2.2
-.6
29.5
23.5
6.1
8.0
10.6
-2.6
.0
6.2
.6
5.3
.6
5.4
.5
4.7
.5
4.6
.5
33.2
26.9
6.3
10.0
13.1
-3.1
-1.0
5.0
6.0
.6
34.3
27.8
6.5
8.7
11.6
-2.9
-.5
5.3
5.8
.6
39.2
32.2
7.0
9.7
12.5
-2.8
—1.1
5.1
6.2
.6
.8
-1.1
2.2
-6.1
-.4
4.5
-2.4
1.6
.6
-.9
2.4
-5.2
.0
3.7
-2.2
.9
.8
.0
-1.6
.5
2.5
-.3
-6.5
.4
-.6
.2
3.7
.8
-3.1
.7
1.0
.6
.6
.0
-1.3
.4
2.6
-.3
-5.5
.3
-.2
.1
3.2
.5
-2.7
.5
.5
.4
35.4
9.0
36.8
10.7
35.3
8.3
27.5
10.9
34.7
10.8
45.6
10.3
39.5
10.6
49.5
10.3
33.4
8.5
32.0
9.3
31.7
7.4
24.7
9.7
30.4
9.4
39.5
8.9
33.4
9.0
41.1
8.6
Auto output
Final sales...
Change in inventories of new and used autos
New
Used
Addenda:
2
D omestic output of new autos
.
Sales of imported new autos 3_ .
._
Table 6. — Personal Consumption Expenditures by Major Type of Product in Current and Constant Dollars (2.3, 2.4)
Personal consumption expenditures. _.
Durable goods
885.9
121.9
Motor vehicles and parts. ._ ._
Furniture and household equipment
Other
Nondurable goods
963.8
128.1
908.4
117.3
926.4
118.9
950.3
123.8
977.4 1,001.0 1, 029. 6
131.8
137.6
145.9
759.8
112.5
766.9
109.5
748. 9
102.9
752.3
104.0
764.1
771.6
779.4
794.5
106.5
115.3
112.3
120.8
45.7
51.0
18.5
51.2
51.1
18.6
48.0
54.7
19.3
49.5
57.4
21.1
43.6
54.3
19.4
44.6
54.1
20.2
46.1
57.0
20.8
52.1
58.3
21.4
55.1
60.4
22.2
62.1
61.3
22.6
44.4
•50.5
17.6
42.4
49.3
17.9
37.7
48.2
17.0
39.6
47.1
17.3
39.8
49.1
17.6
44.4
49.9
18.0
375.7
409.8
387.1
394.1
404.8
416.4
423.7
430.8
303.0
306.6
298.9
300.8
306.9
308.0
310.7
315.7
151.8
62. 9
25.8
5.0
65.3
155.1
63.2
26.8
5.5
65.1
189.4
65.2
36.4
9.5
75.2
209.1
69.9
40.3
10.2
80.3
197.4
64.8
38.8
9.8
76.1
202.8
66.7
38.1
9.4
77.1
206.6
69.0
39.6
10.1
79.5
211.4
71.3
41.2
11.1
81.5
215.6
72.5
42.1
10.4
83.1
219.3
73.5
42.2
11.3
84.6
147.1
59.0
24.6
5.2
67.0
150.2
61.2
25.9
5.2
64.1
146.4
57.1
26.5
5.1
63.8
148.2
58.7
26.1
5.0
62.8
150.7
60.9
26.3
5.3
63.7
150. 2
62.1
25.4
5.5
64.8
388.3
426.0
404.0
413.4
421.6
429.2
439.7
452.9
344.4
350.7
347.2
347.5
350.8
351.2
353.3
358.0
Housing
Household operation
Electricity and gas
Other.
136.0
56.4
24.0
32.3
148.8
63.3
28.7
34.6
140.7
59.2
26.2
33.0
143.9
60.6
27.3
33.3
147.0
63.1
28.9
34.2
150.2
64.7
29.8
35.0
154. 1
64.9
28.9
36.0
157.8
67.0
30.7
36.3
122.8
48.4
19.7
28.8
127.4
49.4
20.4
29.0
124.3
48.8
20.2
28.6
125.5
48.7
20.3
28.5
126.9
49.9
20.9
28.9
128.0
49.9
20.8
29.2
129.3
49.2
19.7
29.4
130.6
49.9
20.8
29.0
Transportation
30.9
165.0
34.1
179.8
32.1
172.0
33.0
175.9
33.5
177.9
34.2
180.1
35.5
185.2
36.4
191.8
28.5
144.7
28.4
145.5
28.3
145.8
28.4
144.9
28.3
145.8
28.2
145.1
28.8
146.1
28.9
148.6
Food
Clothing and shoes _ _ _ _ _
Gasoline and oil
Fuel oil and coal
Other
Services . .
__ _
* See footnote on page 3.
p Preliminary.
1. Equals GNP in constant dollars measured as the sum of final products less GNP in
constant dollars measured as the sum of gross product by industry.
2. Final sales and change in inventories of new autos produced in the United States.
3. Consists of personal consumption expenditures, producers' durable equipment, ana
government purchases.
SURVEY OF CURRENT BUSINESS
May 1976
Table 7.—Inventories and Final Sales of Business in Current and Constant Dollars (5.9, 5.10)
1974
1975
1974
1975
I
IV
II
1974
1976
III
IV
I*
1974
1975
1975
I
IV
Seasonally adjusted
Inventories *
Durable goods
Nondurable goods
-
.
.-
M anuf acturing
Durable goods
Nondurable goods
- -
-
Wholesale trade
-
-
------
Durable goods
Nondurable goods
Retail trade
... .
-.--..
Durable goods
Nondurable goods
- -
Nonfarm
412.6
413.1
423.7
426.3
433.5
301.1
296.4
291.2
291.0
290.6
293.3
54,7
357.9
60.3
352.8
64.1
359.7
63.2
363.1
64.2
369.3
41.4
259.7
41.2
255.2
41.1
250.1
41.8
249.3
42.7
247.9
43.4
249.9
205.4
159.3
203.0
154.9
199.4
153.4
202.0
157.6
204.7
158.4
206.5
162.7
151.5
108.2
148.6
106.7
145.7
104.4
144.8
104.5
143.6
104.3
142.8
107.0
188.6
186.6
183.6
186.1
188.5
190.2
129.5
128.8
126.4
125.1
124.5
124.4
121.2
67.4
121.6
65.0
119.9
63.6
120.2
65.9
121.2
67.3
121.7
68.5
86.3
43.2
86.4
42.4
85.2
41.2
83.6
41.5
82.5
42.1
81.7
42.7
66.3
65.1
63.o
65.1
65.7
67.3
48.1
47.2
45.8
45.6
45.4
46.3
38.4
26.7
39.3
26.4
40.2
27.1
29.5
18.6
29.4
17.8
28.8
17.0
28.4
17.2
28.5
16.9
28.8
17.5
38.6
27.7
38.8
26.3
38.1
25.7
76.5
73.3
72.4
75.3
74.9
77 2
59.2
56.6
55.5
56.4
55.6
56.8
35.1
41.4
32.5
40.8
31.6
40.8
33.4
41.9
33.6
41.3
33.9
43.3
27.9
31.3
25.4
31.3
24.6
30.9
25.5
30.9
25.2
30.4
25.0
31.8
33.4
32.9
33.0
33.1
34.1
22.6
22.3
22.1
22.9
22.3
22.3
992.5
991.1 1,000.1 1,012.0 1,027.3
1,038.8
1, 148. 0 1, 186. 2 1, 220. 8 1, 243. 2 1,276.5 1, 300. 8
956.8
957.5
974.9
980.5
990.4
999.6
.303
.271
.299
.267
.291
.257
.288
.254
.283
.250
.282
.250
.335
.302
1975
I
IV
Billions of 1972 dollars
57.6
364.8
.351
.318
1975
.329
.289
II
.328
.289
.320
.284
.320
.284
Table 9.—Relation of Gross National Product, Net National Product
and National Income in Constant Dollars (1.10)
1974
1976
IV
III
1974
I*
1975
1,406.9 1,498.9 1,441.3 1,433.6 1,460.6 1,528.5 1,572.9 1, 619. 2
134.0
152.0
142.1
145.4
149.5
154.7
158.5
163.1
Equals: Net national product. .1,272.9 1,346.9 1,299.3 1.288.2 1,311.1 1,373.8 1,414.4 1, 456. 1
Less: Indirect business tax
and nontax liability
Business transfer payments
Statistical discrepancy _ .
Plus: Subsidies less current
surplus of government
enterprises
Equals: National income
Less: Corporate profits with
inventory valuation
and capital consumption adjustments
Net interest...
Contributions for social
insurance
Wage accruals less disbursements
Plus: Government
transfer
payments to persons. _
Personal interest income
Dividends _
Business transfer payments
Equals: Personal income
II
III
IV
I*
Billions of 1972 dollars
Billions of dollars
Less: Capital consumption allowances with capital consumption adjustment
I
IV
1976
1975
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Gross national product
I*
422.3
Table 8.—Relation of Gross National Product, Net National Product,
National Income, and Personal Income (1.9)
1974
IV
34.6
Ratio of inventories to final sales Nonfarm
1974
III
1,202.7 1,230.4 1,257.0 1,291.4 1,330.3 1,354.0
Other
Final sales ~
II
Seasonally adjusted
Billions of current dollars
Farm
Nonfarm
1976
Gross national product
Less: Capital consumption allowances with capital
consumption adjustment
1,210.7 1, 186. 1 1, 186. 8 1, 158. 6 1, 168. 1 1,201.5 1, 216. 2 1, 241. 2
116.7
122.2
119.2
120.0
121.2
123.0
124.8
125.7
Equals: Net national product. . _ 1094. 0 1063. 8 1067. 6 1038. 5 1046. 8 1078. 6 1091. 4 1,115.4
127.3
137.3
129.5
131.6
135.2
140.0
142.2
142.8
5.8
-.6
6.3
-2.6
6.0
2.9
6.2
-3.2
6.3
-8.9
6.4
-3.2
6.5
5.0
6.6
5.3
Less: Indirect business taxes
plus transfer payments
less subsidies plus current surplus of government enterprises
Residual *> 3
.7
1.9
.4
1.6
2.2
1.9
1.9
-.1
Equals: National income
117.2
118.1
116.8
116. 4
118.1
118.4
119.5
-.5
—2. 1
2.4
-2.6
-7.1
-2.5
3.9
120.5
4.1
977.4
947.8
948.5
924.7
935.9
962.7
968.1
990.8
1,141.1 1,207.8 1,161.3 1,155.2 1,180.8 1,232.5 1, 262. 6 1,301.3
91.3
100.3
82.0
78.9
96.6
113.1
112.7
70.7
81.6
76.7
78.7
79.7
82.2
85.7
89.2
102.9
108.3
105.0
106.0
106.6
108.9
111.8
118.4
-.5
.0
.0
.0
.0
.0
.0
.0
134.5
106.5
31.1
168.7
120.5
32.8
145.5
114.0
31.7
157.7
116.0
32.1
169.4
117.6
32.6
172.4
121.2
33.5
175.2
127.4
33.1
181.5
131.9
33.3
5.8
6.3
6.0
6.2
6.3
6.4
6.5
6.6
121.8
1,154.7 1,245.9 1,194.8 1,203.6 1,223.8 1,261.7 1,294.5 1,325.2
* See footnote on page 3.
^ Preliminary.
1. Stocks are as of the end of the quarter. The quarter-to-quarter change in inventories calculated from the current-dollar stocks shown in this table is not the current-dollar change in
business inventories (CBI) component of GNP. The former is the difference between two
inventory stocks, each valued at end-of-quarter prices. The latter is the change in the physical
volume of inventories valued at average prices of the quarter. In addition, changes calculated
from this table are at quarterly rates, whereas CBI is stated at annual rates.
2. Quarterly totals at annual rates.
3. Equals GNP in constant dollars measured as the sum of final products less GNP in constant dollars measured as the sum of gross product by industry.
NOTE.—Inventories are classified as durable or nondurable as follows: for manufacturing,
by the type of product produced by the establishment holding the inventory; for trade by
the type of product sold by the establishment holding the inventory; for construction, durable;
and for other nonfarm industries, nondurable.
SURVEY OF CURRENT BUSINESS
6
1974
1975
I
IV
II
1974
1976
1975
1974
May 1976
III
IV
1974
I*
1975
Seasonally adjusted at annual rates
Table 11.— Gross Saving and Investment (5.1)
Capital consumption ad-
207.1
226.7
83.6
180.3
228.3
73.6
185.9
279.3
107.5
211.9
269.5
85.9
21.9
38.4
1.1
43.0
9.3
27.5
-38.5 -10.8 -37.7 -13.7
22.4
34.0
-2.3
-5.7
-4.2
-4.5
-6.6
-5.0
IV
I*
Capital consumption allowances with
capital consumption adjustment
Net domestic product
Indirect business taxes plus transfer
payments less subsidies
D omestic income
Compensation of employees
Wages and salaries
Supplements to wages and salaries
Corporate profits with inventory
valuation and capital consumption adjustments..
Profits before tax..
Profits tax liability
Profits after tax
Dividends
Undistributed profits
28.9
45.3
854.6 912.1 869.2 865.9 892.4 933.0 956.9 987.5
82.1
93.5
87.2
89.1
91.6
95.5
97.7 100.1
772.6 818.6 782.1 776.8 800.8 837.5 859.2 887.4
92.8 100.4
94.5
95.5
98.8 102.8 104.7 103.5
679.8 718.2 687.6 681.3 702.1 734.7 754.6 783.9
582.4 604.5 596.8 589.5 592.5 608.6 627.4 647.5
502.1 518.6 513.3 506.0 508.1 522.0 538.2 553.1
80.4
85.9
83.5
83.4
84.3
80.2
94.4
71.0
73.1
90.7 106.9 107.0 115.5
121.1 110.9 112.9
52.6
68.5
30.9
37.5
45.6
65.3
30.9
34.4
49.2
63.7
30.6
33.0
86.6
89.2
94.4
91.3 102.3 123.3 126.6 134.4
37.5
53.8
30.1
23.7
41.6
60.8
30.6
30.1
50.7
72.6
31.5
41.1
52.5
74.1
31.4
42.7
56.6
78.0
30.1
47.9
Inventory valuation adjustment. -38.5 -10.8 -37.7 -13.7 -6.6 -9.9 -13.1 -11.4
Capital consumption adjustment
-2.3 -5.7 -4.2 -4.5 -5.0 -6.5 -6.6 -7.6
Net interest
Gross domestic product ofl financial corporate business
17.1
19.3
19.8
18.7
18.9
19.2
20.2
21.0
46.0
48.0
47.4
49.5
47.3
46.7
48.4
50.3
Gross domestic product of nonfinancial
corporate business. . . 808.7 864.1 821.8 816.4 845.1 886.2 908.5 937.2
Capital consumption allowances with
capital consumption adjustment
Net domestic product
Indirect business taxes plus transfer
payments less subsidies .
Domestic income
Compensation of employees
Wages and salaries
Supplements to wages and salaries
78.3
89.0
83.1
85.0
87.3
91.0
92.9
95.1
730.4 775.0 738.7 731.4 757.8 795.3 815.6 842.1
86.0
93.2
87.5
88.5
91.6
95.5
97.2
95.9
644.4 681.8 651.2 642.9 666.2 699.8 718.4 746.2
549.5 568.7 562.3 554.4 556.9 572.7 590.9 610.0
474.3 488.5 484.3 476.5 478.1 491.8 507.5 521.7
75.2
80.3
78.0
78.0
78.8
80.9
83.4
88.3
92.7
91.7
98.9
^valuttiSn^
213.8
274.2
88.6
oo?' \
Rfi 9
OO. &
27.1
46.8
-9.9 -13.1
oo f)
gV Q
n A
7 R
-6.5 -6.6
Corporate capital consumption allowances with capital consumption adjustment.. .
82.1
93.5
87.2
97.7
89.1
91.6
95.5
Noncorporate capital consumption allowances with
capital consumption adOQ i
justment _
58.5
56.3
59.2
52.0
60.8
54.9
57.9
Wage accruals less disbursements
.0
.0
.0
.0
.0
.0
.0
Government surplus or deficit
(— ), national income and
7
product accounts
_ -3.6 -64.8 -19.6 -48.0 -93.4 -57.6 -60.4 —54
«q* i
Federal..
-11.7 -74.6 -25.5 -53.7 -102. 2 -70.5 -72.1
14
5
State and local
_
9.8
11.7
8.1
5.9
5.7
8.8
12.9
Capital grants received by the
United States (net) 2
.0 . «• ?
.0
-2.0
.0
.0
.0
.0
Gross investment
209.5 195.4 210.0 177.1 177.0 208.7 218.8 232.0
Gross private domestic investment. . .
212.2 182.6 210.3 168.7 161.4 194.9 205.4 232. 2
2
13.4
Net foreign investment
.. -2.8
-.2
8.4
13.7
12.8
15.6
-•
5 3
Statistical discrepancy
5.0
-.6 -2.6
-3.2
2.9 -3.2
-8.9
-
Gross domestic product of corporate business
Profits before tax
"Prri-fife f a v liaVillittr
Profits after tax
Dividends
Undistributed profits
7.6
48.4
III
Table 12.—Gross Domestic Product of Corporate Business (1.15)
National income
1,141.1 1,207.8 1,161.3 1,155.2 1,180.8 1,232.5 1,262.6 1, 301. 3
Compensation of employees. . . 873.0 921.4 898.1 897.1 905.4 928.2 955.1 9826
Wages and salaries
763.1 801.6 783.6 781.0 787.6 807.3 830.7 851.5
Private
603.0 627.3 617.7 611.7 615.0 631.9 650.5 668. 8
23. 6
23.6
Military
23.0
23.0
22.9
22.8
22.8
22.3
Government civilian
137.7 151.3 142.9 146.4 149.7 152.6 156.5 159.0
Supplements to wages and
salaries
110.0 119.8 114.4 116.1 117.8 120.9 124.4 131.1
Employer contributions
65 o
60.6
58.5
56.9
57.1
57.5
for social insurance
55.5
58.9
Other labor income
57.6
63.8
66.1
54.5
61.3
59.0
60.3
62.0
Proprietors' income with inventory valuation and capital consumption adjust87.1 85.0
83.6
78.6
79.6
88.0
ments. . _ _
85.1 83.3
25 3
28.2
20.1
24.6
24.6
21.0
Farm
25.6
29.3
Proprietors' income with
inventory valuation adjustment and without
capital consumption ad29. 9
32.6
28.9
28.6
25.1
justment
-.
24.3 33.6
29.3
Capital consumption ad-4.3
-4.0
-4.1 -4.2
justment
-4.3 -4.4
-3.7
-4.6
59 7
59.0
58.7
58.6
58.5
58.9
Nonfarm
59.5
58.7
Proprietors' income without inventory valuation
and capital consump61 7
61.2
60.0
62.5
59.1
59.1
60.4
62.0
Inventory valuation adjustment
-.9 -1.5 -1.5
-4.1 -1.3 -4.6 -1.3
-.9
Capital consumption ad.0
justment
1.1
.3
-.8 —1. i
1.6
.8
-.3
Rental income of persons with
capital consumption ad22 7
22.0
21.1 20.9
justment
21.0
20.8
20.5
20.9
35.0
33.2
Rental income of persons
33.9
34.6
35.1 36.3
37.4
32.9
Capital consumption ad14 7
justment
-11.9 -13.9 -12.3 -13.1 -14.1 -14.2 -14.3
Corporate profits with inventory valuation and capital
consumption adjustments..
82.0 78.9
96.6 113.1 112.7 121. 8
91.3 100.3
Corporate profits with inventory valuation adjustment and without
capital consumption adjustment
86.1
93.6 106.0
83.4 101.6 119.6 119.3 129 4
Profits before tax. ._.
132.1 116.8 123.9
97.1 108.2 129.5 132.4 140.8
56. 5
Profits tax liability
49.2
41.6
52.5
52.6
45.6
50.7
37.5
84 3
Profits after tax
71.2
74.7
66.6
79.9
79.5
59.6
78.8
Dividends
_.
32.8
31.7
32.1
32.6
33.5 33.1
33.3
31.1
51 0
Undistributed profits.
43.0
34.0
48.4
38.4
27.5
45.3
46.8
Inventory valuation adjustment
-6.6
-9.9 -13.1 —11.4
-38.5 -10.8 -37.7 -13.7
Capital consumption ad—7. 6
justment
-4.2 -4.5 -5.0
-6.5 -6.6
-2.3 -5.7
89.2
Net interest
70.7
85.7
81.6
76.7 78.7 79.7
82.2
198.0
262.8
88.9
II
Billions of dollars
Table 10.—National Income by Type of Income (1.13)
210.1
215.7
74.0
I
1976
Seasonally adjusted at annual rates
Billions of dollars
Gross saving
Gross private saving
Personal saving
„
Undistributed
corporate
profits with inventory
valuation and capital
consumption
adjustments. _
Undistributed profits
Inventory valuation ad-
IV
1975
63.2
78.8
54.8
55.3
75.7
103.8
94.7
96.3
73.1
86.8 108.5 110.5 117.0
42.7
61.1
30.5
30.6
35.9
58.8
30.8
28.0
39.4
56.9
30.4
26.5
27.1
46.0
30.1
15.9
32.0
54.8
30.7
24.0
41.6
66.8
31.3
35.5
42.8
67.7
31.2
36.5
46.1
70.8
30.0
40.9
Inventory valuation adjustment . -38.5 -10.8 -37.7 -13.7 -6.6 -9.9 -13.1 -11.4
Capital consumption adjustment
-2.1 -5.1 -3.8 -4.1 -4.5 -5.9 -5.8 -6.7
Netinterest
31.7
34.3
34.0
33.2
33.6
34.4
35.8
37.3
Billions of 1972 dollars
Gross domestic product of nonfinancial corporate business. ..697.6 680.4 676.5 654.0 671.8 695.0 700.8 715.0
Capital consumption allowances with
capital consumption adjustment
Indirect business taxes plus transfer
payments less subsidies
Domestic income
.
69.3 72.8 70.9 71.4 72.2 73.2 74.4 75.0
628.2 607.6 605.7 582.5 599.6 621.7 626.4 640.0
77.4 77.8 77.0 76.8 77.9 78.1 78.7 79.0
550.8 529.7 528.7 505.7 521.8 543.7 547.7 561.0
* See footnote on page 3.
.
,.
!. Consists of corporations in the following industries: banking; credit agencies other than
banks; security and commodity brokers, dealers, and services; insurance carriers; regulated
investment companies; small business investment companies; and real estate investment
trusts. These industries together with insurance agents, real estate, and other holding and
investment companies comprise the finance, insurance, and real estate industry.
2. See footnote 1 table 16.
SUEVEY 'OF CUEEENT BUSINESS
May 1976
1974
1974
1975
1975
I
IV
II
1974
1976
III
IV
1974
I
1975
Commodity-producing
industries 1
Manufacturing
2
Distributive industries
._
Service industries 3
Government and government enterprises
Other labor income
Proprietors* income with inventory valuation and
capital consumption adjustments
Farm
Nonfarm
Rental income of persons
with capital consumption
adj u stm ent
1,154.7 1, 245. 9 1,194.8 1,203.6 1,223.8 1,261.7 1,294.5 1,325.2
801.6
783.6
781.0
273.7 273.6 277.7 267.9
211.2 211.2 214.9 205.5
184.3 195.1 189.9 190.3
145.0 158.6 150.1 153.5
787.6
807.3
830.7
851.5
267.2
205.9
191.8
156.0
275.3
212.9
196.6
160.0
284.0
220. 6
201.8
164.7
293.2
228.5
207.0
168.6
160.6
174.3
165.9
169.3
172.6
175.4
180.2
182.6
54.5
61.3
57.6
59.0
60.3
62.0
63.8
66.1
85.1
83.3
83.6
25.6
59.5
24.6
58.7
24.6
59.0
79.6
78.6
88.0
87.1
85.0
21.0
58.6
20.1
58.5
29.3
58.7
28.2
58.9
25.3
59.7
21.0
21.1
20.9
20.8
20.5
20.9
22.0
22.7
Dividends
Personal interest income
31.1
106.5
32.8
120.5
31.7
114.0
32.1
116.0
32.6
117.6
33.5
121.2
33.1
127.4
33.3
131.9
Transfer payments
140.4
175.0
151.6
163.9
175.7
178.8
181.7
188.1
Old-age, survivors, disability, and health insurance benefits
Government unemployment insurance benefitsVeterans benefits
70.1
81.4
75.0
76.6
77.7
85.0
86.2
87.9
6.6
11.7
17.6
14.3
8.2
13.4
15.1
14.6
18.6
13.8
18.7
13.9
17.8
14.9
17.6
16.3
Government employee retirement benefits
Aid to families with dependent children
Other
.. .
18.5
21.8
19.6
20.7
21.2
22.1
23.2
24.0
7.9
25.5
9.1
30.9
8.4
27.0
8.7
28.1
8.9
35.4
9.2
29.8
9.5
30.1
9.6
32.8
Less: Personal contributions for social insurance. .
47.4
49.8
48.2
48.8
49.1
50.0
51.2
53.4
Less: Personal tax and nontax payments
171.2
169.2
178.9
179.6
142.1
174.6
180.5
184.4
Equals: Disposable personal
income
. ._
983.6 1,076.7 1,015.9 1,024.0 1,081.7 1,087.1 1,114.0 1, 140. 7
Less: Personal outlays
909.5
987.8
932.4
950.4
974.2 1,001.3 1,025.4 1,054.5
885.9
963.8
908.4
926.4
950.3
22.6
23.1
23.0
23.0
22.8
Personal consumption expenditures
Interest paid by consumers
to business
Personal transfer payments
to foreigners (net)
Equals: Personal saving
977.4 1,001.0 1,029.6
23.0 23.4 23.8
1.0
1.0
1.0
1.0
1.1
.9
1.0
1.0
74.0
88.9
83.6
73.6
107.5
85.9
88.6
86.2
Addenda:
Disposable personal income:
Total, billions
dollars
of 1972
843.5
856.7
869.8
858.2
867.3 880.3
Per capita:
Current dollars
1972 dollars ..
4,642 5,040 4,779 4,808 5,070
3,981 4,010 3,940 3,905 4,077
5,083
4,012
5,197
4,047
5,313
4,100
Population
millions)
211.9
213.6
212.6
213.0
213.4
213.9
214.3
214.7
7.5
8.3
8.2
7.2
9.9
7.9
7.9
7.6
(mid-period,
. ..
Personal saving as percent of
disposable personal income _.
837.6
831.6
1. Consists of agriculture, forestry, and fisheries; mining; contract construction; and manufacturing.
2. Consists of transportation; communication; electric, gas, and sanitary services; and trade.
3. Consists of finance, insurance, and real estate; services; and rest of the world.
III
IV
I*
Table 14.—Corporate Profits by Industry (6.18)
Table 13.—Personal Income and Its Disposition (2.1)
763.6
II
Billions of dollars
Billions of dollars
Wage and salary disbursements
I
IV
1976
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Personal income _
1975
Corporate profits with inventory
valuation and capital consumption adjustments
91.3 100,3
82.0
78.9
96.6 113.1 112.7 121.8
Domestic industries
Financial .
Nonfinancial--
80.2
17.1
63.2
94.4
15.6
78.8
71.0
16.2
54.8
73.1
17.8
55.3
90.7 106.9 107.0 115.5
15.0 14.2 15.3 16.6
75.7 92.7 91.7 98.9
Rest of the world .
11.0
5.9
11.0
5.8
Corporate profits with inventory
valuation adjustment and
without capital consumption
adjustment... -..
Domestic industries _
Financial
Federal Reserve banks
Other ..
Nonfinancial - - . _ . ... M anuf actur in g
Nondurable goods
Food and kindred products
Chemicals and allied products.
Petroleum and coal products _._
Other . . .
Durable goods
._ ... .
Primary metal industries
Fabricated metal products
Machinery, except electrical...
Electrical equipment and supplies
Motor vehicles and equipmentOther
93.6 106.0
5.8
6.2
5.8
6.3
86.1 83.4 101.6 119.6 119.3 129.4
82.5 100.1 75.1 77.6
17.3 16.2 16.5 18.3
5.7 5.7 6.0 5.7
11.5 10.5 10.5 12.5
65.3 83.9 58.6 59.3
37.4 45.2 31.9 30.0
25.6 27.4 22.6 21.1
3.3 6.6
1.7 5.9
5.3 6.3 4.8 4.4
8.9 6.3 7.7 5.2
8.2 8.3 8.5 5.6
11.8 17.8 9.2 8.9
3.5 2.1 4.3 3.9
.9 2.7
1.3 1.5
1.8 4.8 1.1 3.4
.9
1.0
3.7
2.0
2.0
4.3
Wholesale and retail trade. _.
13.4
Transportation, communication,
and electric, gas, and sanitary
services
7.0
Other
7.5
Rest of the world .
11.0
Corporate profits before deduction of capital consumption allowances, with inventory valuation adjustment
... - 173.3
Domestic industries . . .
162.3
Financial
20.8
Federal Reserve banks
5.7
Other
. .
15.0
Nonfinancial-_ 141.5
Manufacturing
69.7
Nondurable goods
41.6
Food and kindred products
5.6
Chemicals and allied products . 8.9
Petroleum and coal products .. 14.2
Other
- .
12.9
Durable goods
28.1
Primary metal industries
5.9
Fabricated metal products
2.2
Machinery, except electrical. _.
5.0
Electrical equipment and supplies ._
3.5
Motor vehicles and equipment
3.5
Other. . .
8.0
Wholesale and retail trade... .
21.2
Transportation, communication,
and electric, gas, and sanitary
services
29.4
Other
.. ..
21.2
Rest of the world
11.0
21.9
11.9
8.8
7.9
5.9
6.7
8.1
11.0
.3 1.2
.6 -2.2
1.6 1.0
95.7 113.4 113.6 123.1
15.5 14.9 16.1 17.5
5.4 5.8 6.0
5.7
9.9 9.4 10.3 11.5
80.2 98.6 97.4 105.6
43.5 54.6 52.8
27.5 30.1 30.9
7.1 6.9 6.4
5.9 7.5 7.4
7.0 6.0 6.8
7.5 9.8 10.2
16.0 24.5 21.9
1.4
1.2
1.7
2.7 3.4 3.0
4.7 5.8 5.3
2.2
1.1
3.6
2.5
4.9
6.5
2.2
4.2
6.0
16.3
21.0
25.1
25.4
5.1
7.9
5.8
7.9
7.8
5.8
11.3
7.6
6.2
11.0
8.2
5.8
6.3
193.8 169.1 168.0 188.2 208.6 210.4 221.9
187.9 158.1 162.2 182.3 202.4 204.7 215.5
20.0 20.2 22.0 19.3 18.7 20.1 21.5
5.7 6.0 5.8 5.7
5.5 5.8 6.0
14.3 14.1 16.2 13.6 13.3 14.2 15.5
167.9 138. 0 140.3 163.0 183.7 184.6 194.0
80.1 65.2 63.8 77.9 89.9 88.9
44.8 39.7 38.1 44.5 47.6 48.8
9.0 4.1 8.3 9.4 9.3 8.9
10.2 8.6 8.2 9.8 11.4 11.5
12.2 13.6 11.1 12.8 11.9 12.9
13.3 13.4 10.5 12.5 15.0 15.4
35.4 25.5 25.7 33.3 42.3 40.1
4.6 6.7 6.4 4.2 3.9 3.8
4.0 2.6 2.9 4.1 4.8 4.4
8.3 4.3 6.7 8.2 9.3 9.0
4.9
2.9
3.9
5.0
5.4
5.1
4.7
9.0
2.9
6.1
.2
5.6
3.7
8.2
7.7
11.3
7.0
10.9
30.6
20.0
24.6
29.5
33.9
34.4
34.0 30.5
23.1 22.3
5.9 11.0
29.4
22.5
5.8
32.8
22.8
5.8
36.8 37.3
23.1 24.1
6.2 5.8
*See footnote on page 3.
NOTE.—The industry classification is on a company basis.
"~6.y
SURVEY OF CURRENT BUSINESS
8
1974
1974
1975
1975
IV
I
II
May 1976
1974
1976
IV
III
I*
1974
IV
1975
Seasonally adjusted at annual rates
Corporate profits tax accruals
_.
Indirect business tax and nontax
accruals
__.
250.1 293.3 302.1 312.2
131.4 125.6 137.4 137.6
99.3 130.5 135.2 137.8
21.7
89.4
Contributions for social insurance
Expenditures .
288.4 282.3 293.1 283.6
45.9
39.0
24.2
93.5
42.9
21.7
91.1
32. 1
22.3
91.7
35.5
23.5
91.9
43 4
25 5
93.9
45.0
25 4
48 6
23 0
96.4 102.8
. 300.1 356.9 318.6 337.4
352.3 363.8 374.2 381.3
111.7 123.2 118.2 119.4
119.2 124 2 129 9 131 1
Purchases of goods and services
National defense
Compensation of employees
Other
Nondefense
Compensation of employees
Other
Transfer payments
To persons.
To foreigners *
77.4
84.0
80.5
81.4
82.1
84 9
87 4
87 0
37.5
39.9
39 6
44.4
38.9
41.6
39.0
42.4
39.1
43.0
39.3
45.6
40 9
46.5
41 2
45.8
34.3
39.2
37.7
38.0
37.1
39.3
42 5
44 1
17.2
17.1
19.2
20.0
18.1
19.6
18.7
19.3
117.7 149 2 127.8 139.2
114.5 146.1 124.8 136.2
3.2
3.0
3.0
30
18.9
18.1
19 3
20.0
20 1
22.4
20 4
23 6
150.5 152 5 154 5 160 2
147.3 149.5 151.5 157.2
3.2
30
30 30
214 9
221 2
228 2
237 7
242.3
248.7
39.8
43.6
41 5
42.0
42.9
44.1
45.3
46.6
6.7
6.6
6.3
5.5
6.1
7.3
7.5
7.9
Indirect business tax and nontax accruals
.
105.6
113.1
107.8
109.3
111.8
114.5
116.7
119.9
Contributions for social insurance
13 5
14 8
14 0
14.3
14 7
15 0
15.3
15.6
Federal grants-in-aid_
43.9
54.3
45.4
50.1
52.8
56.8
57.4
58.7
201 3
222.6
209 0
215.5
219 4
224.8
230.6
234.3
189.4
208.0
196.3
201.9
205.5
209.9
214.8
218.1
Compensation of employeesOther
106.4
83.0
117.4
90.6
110.0
86.3
113.3
88.6
116.4
89.0
118.8
91.1
121.2
93.6
123.7
94.5
Expen d itures
Transfer payments to persons. .
20.0
22.5
20.7
21.5
22.1
22.9
23. 6
24.3
Net interest paid
Paid
Less: Received
— 3. 6
9.4
13.0
-3.0
10.8
13.9
-3.3
9.9
13.2
-3.2
10.4
13.7
-3.2
10.7
13.9
-2.9
11.0
13.9
-2.8
11.3
14.1
-3.0
11.5
14.5
Subsidies less current surplus
of government enterprises.
-4.5
-4.9
52.8
56 8
57 4
58 7
Net interest paid
21.0
23 4
22.0
22 4
22 6
23 4
25 3
26 1
Subsidies
Interest paid
24.1
27.1
25.0
25.5
26.1
27.3
29.5
30 8
19.8
4.3
22 6
4.5
20.5
4.5
20.6
4.9
21.6
4.4
22 8
4.5
25 2
4.3
26 5
4 3
3.0
3.7
2.9
3.2
3.5
3.9
4.2
4.6
68
5.1
6.3
7.1
69
70
51
3.4
4.5
3.«
4.6
4.4
4.4
4.8
49
-2.8 -2.5 — 2. J
-.2
Less: Current surplus of government enterprises
-1.8 -2.3 -1.3 -1.6
Less: Wage accruals less disbursements
o
0
0
o
o
o
Q
Surplus or deficit (— ), national
income and product accounts
-11.7 -74.6 -25.5 -53.7 -102.2 -70.5 -72.1 -69.1
Exports of goods and services
Capital grants received by the United
States (net) *
142.2 147.8 153.6 148.2
144.2 147.8 153.6 148.2
—2 0
o
0
o
140.7 148 5 153 8 153 1
140.7 148.5 153.8 153.1
o
o
o
o
Payments to foreigners.
142.2 147.8 153.6 148.2
140.7 148.5 153.8 153.1
Imports of goods and services
136.5 126.5 145.3 130.9
116.4 126.4 132.1 145.0
Transfer payments (net)
From persons (net)
From government (net)
Interest paid by government to foreigners
_
_.
Net foreign investment
4.2
4.0
40
40
4 2
39
4.0
4.1
1.0
3.2
1.0
3.0
1.0
3.0
10
3.0
1.1
3.2
.9
3.0
1.0
3.0
1.0
3.0
4.3
4.5
4.5
4.9
4.4
4.5
4.3
4.3
-2.8
12.8
-.2
8.4
15.6
13.7
13.4
-.2
* See footnote on page 3.
1. On February 18, 1974, the U.S. Government granted to India $2,010 million (quarterly
rate) in rupees under provisions of the Agricultural Trade Development and Adjustment
Act. This transaction is being treated as capital grants paid to foreigners in the national income
and product accounts but as current unilateral transfers in the balance of payments accounts.
Accordingly, this transaction is excluded from Federal Government transfers to foreigners
and related totals shown in tables 11, 15, and 16, and is included in the first quarter of 1974
as —$8.0 billion (annual rate) in capital grants received by the U.S. shown in tables 11 and 16.
-4.9
-4.7
-4.7
-5.0
-5.1
-5.2
.1
.2
.1
.1
.2
2
.2
.2
Less: Current surplus of
government enterprises
4.7
5.1
4.8
4.9
5.1
5.2
5.3
5.4
Less: Wage accruals less disbursements
.0
.0
.0
.0
.0
.0
.0
.0
Surplus or deficit (— ), national income and product
accounts
8.1
9.8
5.9
5.7
8.8
12.9
11.7
14.5
10.2
-4.3
10.8
-5.0
11.1
-2.2
11.2
1.7
11.2
.5
11.3
3.2
Social insurance funds
Other funds
-
9.8
-1.7
11.1
-1.3
Table 18.—National Income Without Capital Consumption Adjustment by Industry (6.4)
National income without
capital consumption
adjustment
1,157.5 1,231.6 1,180.7 1,176.1 1,203.8 1,257.8 1,288.7 1,329.2
Table 16.—Foreign Transactions in the National Income and
Product Accounts (4.1)
Receipts from foreigners
nontax
Purchases of goods and services
50.1
5.2
and
Corporate profits tax accruals. .
45.4
Subsidies
I*
232.4
54.3
Subsidies less current surplus of
government enterprises
VI
209.4
Receipts
Personal tax
receipts
43.9
Less: Interest paid to government..
III
Table 17.—State and Local Government Receipts and Expenditures (3.4)
Grants-in-aid to State and local
governments
To persons and business
To foreigners
II
Billions of dollars
Table 15.—Federal Government Receipts and Expenditures (3.2)
Receipts
I
1976
Seasonally adjusted at annual rates
Billions of dollars
Personal tax and nontax receipts
1975
1,143.1 1, 221. 1 1,165.9 1,166.4 1,193.7 1,246.1 1,278.0 1,317.7
Domestic income
Agriculture, forestry, and
fisheries
Mining and contract construction
43.8
44.7
43.6
40.6
39.8
49.4
48.8
74 6
74 3
75.6
74.5
73.1
74.0
75.6
294.2
119.0
175.3
303.1
124.9
178.1
293.7
117.2
176.4
280.7
114.2
166.5
295.0
122.3
172.7
314.4
129.2
185.2
322.2
134.0
188.1
45.1
23.8
44.4
25.6
44.9
25.0
41.7
24.3
42.5
25.3
45.8
26.3
47.7
26.5
20.0
178.5
24.6
201.1
21.4
182.9
23.0
190.9
24.2
197.6
25.4
205.5
25.8
210.4
74.8
103.7
80.4
120.6
79.3
103.5
75.7
115.2
77.9
119.7
83.1
122.4
85.0
125.4
Finance, insurance, and real
estate
Services
130.3
152.7
139.0
167.3
133.7
158.5
137.7
161.9
136.7
164.7
137.9
169.0
143.7
173.7
Government and government enterprises
180.0
197.1
186.7
191.2
195.0
198.4
203.7
14.8
9.6
10.0
11.6
10.7
Manufacturing _
Nondurable goods
Durable goods
Transportation
Communication
Electric, gas, and sanitary
services
Wholesale and retail trade. _.
^^holesale trade
Retail trade
Rest of the world
. .-
14.4
10.5
11.5
NOTE —The industry classification of the compensation of employees, proprietors' income,
and rental income of persons is on an establishment basis; the industry classification of corporate profits and net interest is on a company basis.
SURVEY OF CUEEENT BUSINESS
May 1976
1975
1974
1974
1975
IV
I
II
III
9
1974
1976
IV
1974
I*
1975
IV
Table 19.—Implicit Price Deflators for Gross National Product (7.1)
116.20 126. 37 121. 45 123.74 125. 04 127. 21 129. 33 130. 46
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment __
ResidentialNonfarm structures
Farm structures ._
Producers' durable equipment..
Change in business inventories
Nonfarm
Farm
Net exports of goods and services
Exports
Imports
.
Government purchases of goods and
services . . _
Federal
National defense
Nondefense.
. . . _ . _ _
State and local
II
III
IV
I*
Index numbers, 1972=100
Index numbers, 1972=100
Gross national product
I
Seasonally adjusted
Seasonally adjusted
Personal consumption expenditures. ..
Durable goods
Nondurable goods _
. ..
Services
1976
1975
116.6
108.4
124.0
112.7
125.7
116.9
133.6
121.5
121.3
114.0
129.5
116.4
123.1
114.3
131.0
119.0
124.4
116.3
131.9
120.2
126.7
117.4
135.2
122.2
128.4
119.4
136.4
124.4
129.6
120.8
136.5
126.5
117.6
116.0
127.5
110.2
122.1
122.6
122.9
105.4
132.6
132.3
141.7
127.7
133.3
133.8
133.7
115.9
125.4
125.0
138.3
118.3
126.7
127.2
127.1
110.8
130. 1
129.6
141.0
123.8
131.6
132.2
131.4
113.8
131.9
131.8
141.2
127.3
132.3
132.9
132.2
115.5
132.6
132.6
141.4
128.4
132.5
133.0
133.0
116.8
135.5
135.3
143.4
131.3
136.1
136.7
136.1
118.8
137.7
136.9
144.2
133.3
139.7
140.3
140.2
120.8
Table 23.—Implicit Price Deflators for Net National Product and
National Income by Sector (7.7)
116.3 126.6 121.7 124.0 125.2 127.4 129.6 130.5
Net national product
115.8 126.2 121.0 123.6 124.8 126.9 129.2 130.1
Net domestic product
116.0 127.0 121.6 124.4 125.6 127.7 129.8 130.6
Business .
114.7 126.4 120.5 124.2 125.1 126.8 129.1 130.4
164.1 145.5 160.9 131.1 142.4 155.8 151.4 137.4
Nonfarnip
Farm
Residual? l
Households and institutions. _
Government..
. ... .
Rest of the world
116 8 127.4 122.4 124.9 126.2 128.0 130.4 131.3
National income
116.1 127.0 121.7 124.5 125.7 127.5 130.0 130.8
Domestic income
147.8 163.2 160.4 163.5 162.0 163.6 163.5 164.3
168.6 188.3 185.6 189.1 187.8 187.8 188.2 189.8
118.4 128.6 124.0 125.9 127.3 129.2 131. 8 133.5
117.6 130.6 124.8 127.3 128.9 130.9 135.3 136.9
118.9 127.4 123.6 125.1 126.4 128.2 129.8 131.5
116.4 126.4 120.9 122.5 124.0 127.6 131.5 133.1
114.4 121.5 117.7 119.1 120.5 121.8 124.5 126.2
116.4 128.0 122. 5 125.6 126.8 128.6 130.9 131.6
Business
Nonfarm
Farm
.
115.4 128.0 121.8 126.0 126.9 128.2 130.7 132.0
147.1 128.6 143.7 114.6 124.3 138.5 135. 9 122.4
.
116.4 126.4 120.9 122.5 124.0 127.6 131.5 133.1
114.4 121.5 117.7 119.1 120.5 121.8 124.5 126.2
Households and institutions
Government
Rest of the world
Table 24.—Implicit Price Deflators for Auto Output (7.9)
Table 20.—Implicit Price Deflators for Gross National Product by
Major Type of Product (7.3)
Gross national product
Final sales
Goods
Durable
Nondurable
Services
Structures
116.20 126. 37 121. 45 123. 74 125. 04 127.21 129. 33 130.46
116.1
115.5
109.6
119.6
114.6
126.2
126.5
127.8
123.8
130.3
122.9
139.2
121.3
121.5
116.6
124.7
118.5
134.8
123.8
124.8
119.9
127.8
120.3
128.4
125.4
126.7
123.4
129.0
121.6
138.6
127.3
129.0
124.8
131.7
123.6
138.4
129.3
130.4
126.9
132.8
126.0
141.2
130.3
130.2
127.4
132.0
128.1
143.1
Table 21.—Implicit Price Deflators for Gross National Product by
Sector (7.5)
Gross national product _ _
Gross domestic product
116 20 126. 37 121 45 123 74 125 04 127 21 129 33 130 46
115 7 126 0 120 9 123 4 124 7 126 8 129 0 130 1
Business
Nonfarm p
Farm.
Residual?1 .
115 8 126 6 121 3 124 0 125 3 127 5 129 5 130 5
114.6 126. 1 120 3 123 8 124 8 126 6 128 8 130 3
154 0 142 4 152 5 130 8 139 5 150 7 147 8 137 1
Households and institutions .
116.4 126.4 120.9 122 5 124 0 127 6 131 5 133 1
Government
... ..
Federal
State and local _ -
114 4 121 5 117 7 119 1 120 5 J91 g 124 5 126 2
114.1 123.1 119.0 120.5 121.4 122.5 128.0 129.4
114 6 120 7 117 1 118 4 120 0 121 4 122 8 124 6
Rest of the world
Table 22.—Implicit Price Deflators for the Relation of Gross
National Product, Net National Product, and National Income
(7.6)
Gross national product
..
Less: Capital consumption allowances
with capital consumption adjustment
Equals : Net national product
116.20 126. 37 121. 45 123. 74 125. 04 127. 21 129. 33 130. 46
114.8 124.4 119.2 121.1 123.3 125.8 127.1 129.7
. 116.3 126.6 121.7 124.0 125.2 127.4 129.6 130.5
Residual? l
207-050 O - 76 - 2
Addenda:
2
Domestic output of new autos
Sales of imported new autos 3
116.8 127.4 122.4 124.9 126.2 128.0 130.4 131.3
106.3 113.1 113.9 109.2 112.8 113.3 116.5 117.5
109.1 117.7 117.7 112.8 116.8 118.5 121.8 122.5
105.6 115.1 111.4 112.2 114.5 115.2 118.1 120.4
103.7 107.7 105.3 105.9 108.6 106.8 109.6 112.2
105.8 115.1 111.4 112.1 114.5 115.3 118.0 120.4
107.2 Il6.6 113.3 Il3.3 113.8 116.5 119.5 119.2
118.8 134.9 122.4 131.1 132.4 134.6 140.3 143.1
111.8 120.6 116.6 118.1 120.3 120.8 122.9 124.7
105.0 115.0 111.3 111.5 114.3 115.2 118.1 120.3
105.8 115.0 111.4 112.2 114.5 115. 3 118.1 120.4
Table 25.—Implicit Price Deflators for Personal Consumption
Expenditures by Major Type of Product (7.11)
Personal consumption expenditures
116.6 125.7 121.3 123.1 124.4 126.7 128.4 129.6
108.4 116.9 114.0 114.3 116.3 117.4 119.4 120.8
Durable goods
108.0 116.8 115.7 112.7 116.0 117.4 120.4 121.3
Motor vehicles and parts ..
Furniture and household equipment- 108.3 116.5 112.8 114.9 116.0 116.8 118.3 120.0
110.0 118.3 113.9 116.5 117.9 119.2 119.7 121.5
Other
Nondurable goods
124.0 133.6 129.5 131.0 131.9 135.2 136.4 136.5
_ _
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other
Services
Less: Indirect business taxes plus
transfer payments less subsidies
plus current surplus of government enterprises .
113.0 120.0 115.7 117.0 118.0 122.0 122.8 124.1
Equals: National income
106.8 112.9 112.5 107.9 111.8 113.9 116.9 118.6
Auto output
Final sales
Personal consumption expenditures _
New autos
..
Net purchases of used autos
Producers' durable equipment
New autos
... . . . .
Net purchases of used autos
Net exports
Exports
...
Imports . .
Government purchases of goods and
services
_ ...
Change in inventories of new and used
autos
Housing
Household operation
Electricity and gas
Other
Transportation
Other
.
.
.
- 128.7
110.5
147.9
_ __
182.4
._ 112.3
139.2
114.2
155.4
197.6
125.2
134.8
113.6
146.5
193.7
119.3
136.9
113.5
146.1
187.9
122.8
137.2
113.3
150.5
190.4
124.8
140.7
114.8
161.9
202.1
125.7
142.0
115.3
163.4
210.0
127.4
141.4
116.2
157.6
205.3
129.9
112.7 121.5 116.4 119.0 120.2 122.2 124.4 126.5
110.8
116.4
122.1
112.4
108.3
114.1
116.8
128.1
140.6
119.3
119.9
123.6
113.3
121.4
129.6
115.5
113.1
118.0
114.7
124.3
134.6
116.9
116.4
121.4
115.9
126.6
138.0
118.3
118.6
122.0
117.3
129.6
143.2
119.9
121.1
124.1
119.2
132.0
146.7
122.1
123.4
126.8
120.8
134.3
147.3
125.0
125.9
129.0
* See Footnote on page 3.
1. Equals GNP in constant dollars measured as the sum of final products less GNP in
constant dollars measured as the sum of gross product by industry.
2. Final sales and change in inventories of new autos produced in the United States.
3. Consists of personal consumption expenditures, producers' durable equipment, and
government purchases.
SUKVEY OF CURRENT BUSINESS
10
Table 26.—Percent Change From Preceding Period in Gross National Product in Current and Constant Dollars, Implicit Price
Deflator, and Price Indexes (8.9)
1974
1974
1975
IV
1975
I
11
May 1976
Table 26.—Percent Change From Preceding Period in Gross National Product in Current and Constant Dollars, Implicit Price
Deflator, and Price Indexes—Continued
1976
111
IV
I*
1974
1975
IV
Seasonally adjusted
Percent
Current dollars .
1972 dollars
Implicit price deflatorChain price index..
Fixed-weighted price index
State and local:
Current dollars.. .
1972 dollars
Implicit price deflator
Chain price index. _ .
Fixed-weighted price index
9.5
-1.2
10.9
9.9
11.2
10.3
—. 7
11.1
10.8
11.2
12.8
1.9
10.6
10.8
10.9
9.8
2.5
7.2
7.5
7.5
Percent
19.9
12.0
7.1
7.3
7.3
12.1
5.0
6.8
6.9
7.2
12.3
8.5
3.5
3.9
3.9
11.9
4.0
7.7
8.1
8.2
10.0
4.1
5.7
6.2
6.3
11.9
8.0
3.6
3.3
3.0
28.5
23.8
3.8
3.8
4.0
18.7
11.1
6.9
6.9
7.4
26.5
20.6
4.9
4.8
4.8
11.9
1.5
10.2
10.8
10.9
7.2
6.9
3.6
6.5
3.5
.3
4.2 -.6
4.3 -1.0
7.4
.5
6.8
6.9
6.9
10.2
2.4
7.6
7.9
8.0
12.5
5.4
6.8
6.6
6.7
112.7
101.0
23.3
10.0
63.3
52.1
13.2
11.1
2.0
3.2
2.5
22.6
12.2
9.2
8.3
8.4
19.3
12.2
6.4
6.7
7.1
1.7
-.7
2.4
4.1
3.6
15.0
6.0
8.4
7.3
7.0
17.3
12.0
4.7
5.2
5.1
.8
.2
.6
.5
.0
20.8
14.1
5.9
5.4
5.2
14.4
12.0
2.1
1.7
1.8
2.3
-1.1
3.4
6.1
5.6
11.9
2.3
9.4
8.4
8.1
18.9
12.0
6.2
7.1
7.2
57.5
56.7
.5
.4
.4
46.8
31.6
11.6
11.3
11.2
25.1
12.7
10.9
11.1
11.0
24.2
19.5
4.0
3.8
3.5
15.0 -1.7
15.1 -3.4
-. 1
1.8
.4
1.1
.4
1.3
19.3
18.4
.7
.7
.8
44.9
39.9
3.6
2.8
2.9
12.1
6.0
5.8
5.4
5.6
13.5
4.6
8.5
8.5
8.6
5.3
.2
5.1
5.0
4.3
17.2
4.0 -.6
-4.1 -4.2 -5.4
5.2
8.5
22.3
7.1 5.4
20.8
21.1 7.4
5.8
17.8
11.0
6.1
5.5
6.3
19.9
3.6
5.0 -1.3
14.2
4.9
14.1
4.1
13.6
2.9
11.9
6.5
5.1
5.5
5.5
8.9
3.2
5.6
5.4
5.1
7.3
2.8
4. 2
4.6
4.2
Addenda:
Gross domestic product:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Business:
Current dollars
1972 dollars
Implicit price deflator.
Chain price index
Fixed-weighted price index
II
111
IV
I*
9.8
4.3
5.2
5.2
5.2
6.3
1.0
5.2
5.5
5.3
Percent at annual rate
7.3 6.9 4.6 -.7
-1.8 -1.9 -7.8 -8.5
9.3
8.5
8.9 13.5
9.3 8.8 12.5
8.3
9.4
8.8
7.7
3.2
4.3
4.3
19.6
11.7
7.1
7.4
12.5
5.2
7.0
6.9
12.2
8.4
3.5
3.9
3.8
7.1
3.4 -2.5
6.4
-2.4 -2.7 -9.3 -10.7
9.7
9.3 14.0
9.3
9.7
9.1 12.8
8.6
9.8
9.1 12.7
8.1
7.5
3.1
4.2
4.2
4.5
21.7
13.6
7.2
7.6
7.6
12.7
5.9
6.4
6.4
6.7
13.0
9.6
3.1
3.7
3.6
NOTE.—The implicit price deflator for GNP is a weighted average of the detailed price
indexes used in the deflation of GNP. In each pariod, the weights are based on tha composition
of constant-dollar output. In other words, the price indax for each item is weighted by the
ratio of the quantity of the item valued in 1972 prices to the total output in 1972 prices. Changes
in the implicit price deflator reflect both changes in prices and changes in the composition of
output. The chain price index uses as weights the composition of output in the prior period,
and, therefore, reflects only the change in prices between the two periods. However, comp arisons of two or more of the percent changes in the chain index also reflect changes in the composition of output. The fixed-weighted price index uses as weights the composition of output
in 1972. Accordingly, comparisons over any timespan reflect only changes in prices.
Table
27.—Fixed-Weighted Price Indexes for
Product, 1972 Weights (7.2)
Gross
National
Index numbers, 1972=100
.. 116.3 126.5 121.5 123.8 125.2 127.4 129.6 130.9
Gross national product
39.0
39.1
.0
-1.5
-1.5
8.4
-.3
8.8
9.3
9.5
I
1976
Seasonally adjusted
Percent at annual rate
Gross national product:
7.7 6.5 4.8 -2.1 7.7
Current dollars _
1972 dollars
- -1.8 -2.0 -7.5 -9.2 3.3
Implicit price deflator
9.7 8.8 13.4 7.8 4.3
Chain price index
9.7 8.8 12.5 8.2 4.3
9.7 8.8 12.5 7.8 4.4
Fixed-weighted price index
Personal consumption expenditures:
8.2 10.7
9.6
.3
8.8
Current dollars
.9 -9.2
1.8
6.4
1972 dollars
- -.8
Implicit price deflator.
10.5
6.2
7.8 10.4
3.9
10.7
6.3
Chain price index
7.8 10.2
4.0
7.9 10.4
Fixed-weighted price index
10.9
6.1 4.1
Durable goods:
Current dollars
- -.8 5.0 -31.5 5.7 17.5
-7.0 -2.6 -39.7
4.5
1972 dollars
9.8
Implicit price deflator
6.6
7.8 13.6
1.2
7.0
Chain price index
6.5
1.5
8.1 13.3
7.4
6.5
Fixed-weighted price index
8.2 13.6
1.1 8.2
Nondurable goods:
12.4
7.5 11.2
9.1
Current dollars
-. 3.4
-2.2
1.2 -7.4
2.6
1972 dollars
8.3
Implicit price deflator
14.8
7.8 11.6
4.8
2.8
15.4
4.9
Chain price index
7.8 11.6
2.9
15.5
Fixed-weighted price index _
4.9
7.9 12.0
2.7
Services:
10.5
9.6
9.7
9.5
Current dollars
8.2
.4
1972 dollars
. . - - 2.6 1.8 1.6
3.8
Implicit price deflator
7.7
9.2
7.8
7.7
4.2
Chain price index
7.8
7.8
9.2
7.8
4.1
Fixed-weighted price index
7.8
9.2
7.8
7.8
4.2
Gross private domestic investment:
-3.7 -13.9
Current dollars
5.3 -58.6 -16.1
-13.2 -23.2 -13.9 -63.5 -16.1
1972 dollars
Implicit price deflator
Chain price index...
Fixed-weighted price index
Fixed investment:
-.2 -2.6 -6.4 -12.1 -5.0
Current dollars
..
-10.0 -13.6 -21.1 -24.0 -10.2
1972 dollars
Implicit price deflator
10.9 12.8 18.7 15.7
5.8
11.3 13.0 18.0 16.4
Chain price index
6.8
Fixed-weighted price index . . 11.5 12.2 16.1 15.3 5.5
Nonresidential :
8.4
Current dollars
.4
8.3 -4.6 -8.3
1972 dollars
-2.9 -12.0 -12.6 -17.5 -14.3
Implicit price deflator .
11.6 14.1 23.9 15.6
6.9
Chain price index
11.7 14.5 22.8 16.2
8.1
Fixed-weighted price index- 12.0 14.0 22.1 14.6 7.3
Structures:
Current dollars
11.1 -3.2 16.2 -8.4 -25.0
1972 dollars
-5.9 -12,9 -.6 -15.1 -25.3
Implicit price deflator
18.0 11.2 16.9
.4
8.0
Chain price index
8.2
.2
18.0 11.1 16.9
Fixed-weighted price index. . 18.1 11.0 17.0 8.0
.0
Producers' durable
equipment:
Current dollars
. 6.9 2.5 3.9 -2.4 2.6
1972 dollars
-1.3 -11.5 -17.9 -18.6 -8.2
Implicit price deflator
8.2 15.9 26.6 20.0 11.7
Chain price index.
8.2 16.4 26.2 21.2 12.9
Fixed-weighted price index.. 8.3 15.9 25.6 19.1 12.3
Residential:
Current dollars.
7.1
-17.9 -10.7 -38.5 -32.4
1972 dollars
4.9
-25.7 -18.1 -42.0 -42.0
Implicit price deflator
10.4
5.9 16.6
2.1
9.1
Chain price index
2.3
10.5
5.8 16.7
9.1
Fixed-weighted price index.. 10.5 9.1 5.8 16.5 2.2
Exports:
Current dollars
42.1
2.5 13.9 -13.2 -18.9
1972 dollars
11.4 -7.2 -4.8 -19.6 -15.9
Implicit price deflator
7.9 -3.6
27.5 10.4 19.7
Chain price index
27.1 11.5 21.4 11.4 -4.0
Fixed-weighted price index
27.2 11.5 21.5 11.2 -3.8
Imports:
Current dollars
45.0 -7.3 -.5 -34.2 -37.4
1972 dollars
.7 -17.0 -16.2 -39.0 -35.7
Implicit price deflator
43.9 11.7 18.8
7.9 -2.7
Chain price index
44.7 11.2 16.6
7.3 -2.2
Fixed-weighte d price index
44.6 11.2 16.0
7.0 -2.0
Government purchases of goods and
services:
Current dollars
11.5 10.0 11.6
4.4
8.9
1972 dollars
1.3 -1.8
2.4 -.3
.7
Implicit price deflator .
10.7
8.6 13.7
6.3 4.6
Chain price index
10.5
8.7 13.5
6.1 4.9
Fixed-weighted price index
11.0
9.0 14.0
6.2
4.9
1975
1974
Personal consumption expenditures
Durable goods
- Nondurable goods . .
Services
117.1
108.4
125.1
112.8
126.4
117.3
134.9
121.6
121.9
114.1
130.6
116.5
123.7
114.4
132.2
119.0
124.9
116.7
133.0
120.3
127.4
117.8
136.5
122.3
129.4
119.9
138.0
124.7
130.4
121.3
137.6
126.7
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment _ .
Residential
118.6
116.7
127.5
110.5
122.3
133.1
133.0
141.5
128.1
133.4
126. 1
125.8
138.4
118.6
126.8
130.7
130.1
141.1
123.9
131.8
132.5
132.4
141.1
127.5
132.5
133.3
133.6
141.1
129.3
132.6
136.0
135.9
142.9
131.9
136.2
138.5
137.8
144.1
134.2
139.6
Farm structures
Producers' durable equipment
Exports
Imports
-
147.4 164.4 160.5 164.8 163.2 164.6 164.8 166.3
- - 169.3 188.2 186.0 189.2 188.2 187.5 187.9 189.7
Government purchases of goods and
services
Federal
. . --State and local
118.9 129.6 124.9 126.9 128.4 130.1 132.8 134.0
118.5 131.8 126.0 128.3 130.1 132.1 136.4 137.3
119.2 128.1 124.2 125.9 127.2 128.8 130.5 131.8
Addenda:
Gross domestic product
Business
-
116.1 126.6 121.5 123.9 125.2 127.5 129.5 130.9
_ - _ 115.9 126.1 121.0 123.3 124.7 126.9 129.2 130.4
Table 28.—Current Dollar Cost and Profit Per Unit of Constant
Dollar Gross Domestic Product of Nonfinancial Corporate
Business (7.8)
Dollars
Current dollar cost and profit per
unit of constant dollar gross
product i
Capital consumption allowances with
capital consumption adjustment
Net domestic product
Indirect business taxes plus transfer
Domestic income
Compensation of employees
Corporate profits with inventory
valuation and capital consumption adjustments
Profits tax liability
Profits after tax with inventory
valuation and capital consumption adjustments
Net interest
1.159 1.270 1.215 1.248 1.258 1.275 1.296 1.311
.123 .130 .130 .131 .133 .133
1.118 1.128 1.144 1.164 1.178
1.092
1.047 1.139
.112
.131
.123 .137
.924 1.002
.129
.963
.135
.983
.788
.836
.831
.848
.136 .137 .139 .134
.992 1.007 1.025 1.044
.829 .824 .843 .853
.091
.061
.116
.053
.081
.058
.085
.041
.113
.048
.133
.060
.131
.061
.029
.063
.023
.043
.065
.073
.070
.074
.050
.050
.051
.050
.050
.051
.052
.045
.138
.065
1? EqffihedXto® fir gross domestic product of nonfinancial corporate business with
the decimal point shifted two places to the left.
BY SHELBY W. HERMAN, GERALD F. DONAHOE, AND JOHN C. HINRICHS
Manufacturing and Trade Inventories
and Sales in Constant Dollars,
1959 to First Quarter 1976
The new quarterly estimates of conJ. HIS article introduces constant-dol- latest month and the remainder in stant-dollar sales are consistent with
lar quarterly estimates of inventories prices of the prior 2 months. In a period the annual constant-dollar sales used
and sales in manufacturing and trade of rising prices, the book value in- in the estimation of GNP by industry.
that provide industry detail. They are an ventory is biased downward relative to
The new estimates are for the period
improved tool for analyzing inventory- sales in such a case. The inventory-sales from the first quarter of 1959 to the
sales relationships, particularly in (I—S) ratios in this article are free of this first quarter of 1976. Charts 1 through 4
periods of rapidly changing prices. For bias because both inventories and sales show constant-dollar inventories, sales,
such analysis, sales customarily have are expressed in constant dollars.
and the I-S ratios for manufacturing
The new inventory detail presented and trade combined, for manufacturing,
been stated in current dollars and inventories in book values. Book values here underlies the inventory estimates for merchant wholesalers, and for retail
reflect an amalgam of prices of current shown regularly in table 7 of the trade. Table 1 shows constant-dollar
and prior periods that depends on ac- National Income and Product Tables1 inventories for 13 manufacturing incounting practices and the length of in the SURVEY OF CURRENT BUSINESS. dustries, 3 categories of merchant
time goods are held in inventory. For
1. In addition to manufacturing and trade, the estimates
wholesalers, and 4 categories of retail
in table 7 include nonm,erchant wholesalers, other
example, if a firm uses the first-in-first- shown
nonfarm industries, and farms. Nonmerchant wholesalers
trade. Tables 2 and 3 provide similar
out (FIFO) method and its inventory are manufacturers' sales branches, petroleum bulk stations industry detail for constant-dollar sales
bulk terminals, farm assemblers, sales agents, and brokers
turns over once in a 3-month period, and
and I-S ratios. These estimates will be
as denned in the 1967 Census of Business. Other nonfarm
about one-third of the book value in- industries are mining, contract construction, transportation, updated each quarter in the SURVEY OF
communication, public utilities, finance, insurance, real
ventory is valued in the prices of the estate, and services.
CURRENT BUSINESS.
Inventory developments
CHART 1
Manufacturing and Trade: Constant-Dollar Inventories, Sales,
and Inventory-Sales Ratios
Billions of 1972 $ (Patio scale)
250
200
Inventories
150
100
90
80
70
60
Ratio (Ratio scale)
2.0
-INVENTORY-SALES RATIOS
1.6
1.2
1959
60
61
62
63 64
U.S. Department of Commerce, Bureau of Economic Analysis
65
66
67
68
69
70
71
72
73
74
75
76
76-5-1
This section (1) compares the new
constant-dollar I-S ratios for manufacturing and trade with the conventional book value ratios and with the
constant-dollar ratios of inventories to
final sales of business, (2) examines the
industry patterns of inventories relative to sales in the recent cycle, (3)
considers whether the new I-S ratios by
detailed industry exhibit long-term
trends, and (4) considers whether the
new I-S ratios have been affected by
shifts in the relative importance of the
detailed industries.
Comparison of alternative I-S ratios.—
From 1959 to 1968, the constantNOTE.—The estimates of constant-dollar
retail sales were prepared by James C. Byrnes.
Stephen P. Baldwin, Teresa L. Weadock, and
Mary K. Osinalde assisted in the preparation
of the other estimates.
11
SUEVEY OF CUERENT BUSINESS
12
CHART 2
Manufacturing: Constant-Dollar Inventories, Sales, and Inventory-Sales Ratio
Billions of 1972 $ (Ratio scale)
150
100
90
80
70
60
50
40
30
Ratio (Ratio scale)
2.5
INVENTORY-SALES RATIO
2.0
1.5
1959
60
61
62
63
64
65
66
67
69
70
71
72
73
74
75
76
U.S. Department of Commerce, Bureau of Economic Analysis
dollar I-S ratios and the conventional
ratios based on book value inventories
move similarly, with the constant-dollar
ratios about 1 to 3 percent higher
(chart 5). After 1968, the constantdollar ratios steadily increase relative
to the book value ratios. The difference
becomes more pronounced beginning
with the second quarter of 1973, and
increases rapidly to 10 percent by the
first quarter of 1975, when the I-S
ratios peak. During 1975, the difference
increases only 2 percentage points, to
about 12 percent at the end of the year.
In the first quarter of 1976, the difference falls to about 11 percent.
The difference between the two ratios
reflects the prices of prior periods in the
book value of inventories, which imparts a downward bias to the book value
ratios relative to the constant-dollar
ratios in a period of rising prices. The
widening of the difference in 1973 and
1974 reflects the acceleration of inflation. The stabilization and decrease in
the past year reflect its deceleration.
The constant-dollar ratios for manufacturing and trade show a greater
buildup in inventories relative to sales
in 1973 and 1974 than do the constantdollar ratios of inventories to final sales
of business (chart 6). The subsequent
decline is also somewhat greater. The
manufacturing and trade ratio in the
first quarter of 1976 is high relative to
its level in 1959-73. The business ratio
is not as high.
The two constant-dollar ratios differ
in several ways with respect to coverage
and statistical sources. The main differences are the following: (a) The
business ratio includes inventories and
May 1976
final sales of nonmerchant wholesalers,
other nonfarm industries, and farms,
(b) Business final sales excludes intrabusiness sales; manufacturing and trade
sales includes such sales, (c) Business
final sales excludes the import content
of sales; manufacturing and trade sales
includes it. (d) Business final sales
includes the margins on used cars sold
by dealers and the change in dealers'
inventories of used cars; manufacturing
and trade sales includes the total value
of used cars, (e) In business final sales,
sales of new cars is unit sales times the
average sales price; in manufacturing
and trade sales, sales are measured
directly.2
The contribution of each of the
factors listed above to the different
behavior of the two ratios has not been
ascertained. However, recently most
of it was due to the greater cyclical
swings in manufacturing and trade
sales than in business final sales. The
inclusion in the latter of services, which
show little cyclical variation, accounts
for a substantial part of the greater
stability of business final sales.
2. Another source of difference between the two I-S ratios
is that the retail sales series used in the estimation of personal
consumption expenditures and hence in the denominator of
the business I-S ratio is not exactly the same as the retail
sales series that is used to estimate the denominator of the
manufacturing and trade I-S ratio. The former includes a
bias adjustment that was described in" The National Income
and Product Accounts of the United States* Revised Estimates, 1929-74," January 1976 SURVEY, Part I, page 16.
CHART 3
Merchant Wholesalers: Constant-Dollar Inventories, Sales, and Inventory-Sales Ratio
Billions of 1972 $ (Ratio scale)
40
35
30
25
20
15
10
Rati<D (Ratio scale)
1.6
__ INVENTORY-SALES RATIO
1.4
-
^
1.2
1.0
R
—
_
t i i t i i i 1i i i i i i i 1 i i i 1 i i i i i i i i i i i i i i i i i i i 1 i i i 1 i i i 1 i i i 1i i i 1 i i i 1 i i i 1 i i i 1i i i
70
71
72
73
74
75
76
64
65
66
67
68
69
63
1959
60
61
62
U.S. Department of Commerce, Bureau of Economic Analysis
May 1976
SURVEY OF CUEEENT BUSINESS
13
2. Moderate buildup (8 to 20 percent):
1. Substantial buildup (more than 20 percent):
weighting individual I-S ratios for 21
manufacturing industries, 7 categories
of merchant wholesalers, and 8 categories of retail trade by their 1972
sales (table 4). Calculations indicate
that the effect of changes in the relative
importance of the various industries
was negligible also for earlier periods
covered in this article.
Manufacturing
Rubber and plastic products
Other nondurable goods
Manufacturing
Primary metals
Fabricated metal products
Machinery, except electrical
Electrical machinery
Merchant wholesalers
N on durables, except groceries and farm products
Motor vehicles and parts
Other transportation equipment
Retail trade
Food stores
Other durable goods
Paper and allied products
3. Little if any buildup (less than 8 percent):
Manufacturing
Food and kindred products
Chemicals and allied products
Petroleum and coal products
Merchant wholesalers
Durable goods
Merchant wholesalers
Groceries and farm products
Retail trade
Automotive dealers
Retail trade
Durables, except automotive dealers
Nondurables, except food stores
I-S ratios for manufacturing
and trade
Fixed-weighted
Actual
Recent cyclical industry patterns.—
The I-S ratios for the various industries
are shown in charts 7 through 10. They
bring out that the industry contribution to the sharp rise in the I-S ratio
differed widely. In the list above, industries have been placed in one of three
groups according to the extent of the
change in their I-S ratio from the first
quarter of 1973 to the first quarter of
1975.
Most industries contributed to the
moderate decline of the overall I-S
ratio from its peak. The ratio for primary metals has remained high. This
industry has not cut back inventories
very much and probably will try to
maintain a higher ratio than in 1973
and early 1974 when sales outran production. The I-S ratio for petroleum
and coal products has not come down.
That industry may wish to hold higher
inventories against the possibility of
another petroleum embargo. The industry that appears to have been most
successful at bringing its I-S ratio
close to the previous—and probably
preferred—level is motor vehicles; this
applies both to manufacturing and
retail trade.
Trends in I-S ratios.—Conclusions
about trends in I-S ratios cannot be
fiim because it is difficult to set aside
cyclical changes. There is little evidence
of a downtrend in the industry I-S
ratios in the past 17 years, even though
such a trend could have been expected
because of improved transportation and
computerization of inventory controls.
In fact, an uptrend might be read into
the ratios for the period since 1968.
Food, and petroleum and coal products
manufacturing showed clear-cut down-
trends, but the latter appears to have
been broken in 1974 (chart 8).
Fixed-weighted' I-S ratios.—Aggregate I-S ratios, for example, those for
manufacturing and trade combined,
reflect not only changes in the ratios for
component industries but also changes
in the relative importance of the industries. For many purposes analysis is
facilitated if the effect of the latter factor is not large. The following tabulation shows that for the recent period
this condition was met for the ratios
for manufacturing and trade combined
presented in this article. These ratios,
labeled "actual," are shown in the first
column, and are very similar to the
fixed-weighted ratios in the second
column. The latter were constructed by
1.55
1.62
1.89
1.72
1.55
1.64
1.87
1.69
1973-1
1974-1
1975-1
1976-1
Methodology
For each industry, constant-do!Jar
inventories are obtained by converting
monthly inventory book values to
constant (1972) prices by the use of
price indexes that measure the prices
of the goods held in inventory. The
first step is to separate inventories
valued by the last-in-first-out (LIFO)
method of inventory accounting from
those valued by non-LIFO methods.
This step is taken because it is necessary
to apply different conversion procedures
to the two kinds of inventories.
CHART 4
Retail Trade: Constant-Dollar Inventories, Sales, and Inventory-Sales Ratio
Billions of 1972 $ (Ratio scale)
70
60
50
-
40
-
30
I I I I I . I ! I I I I I . I I I I I I I I , , I , , , 1 , , , I , . , I , , , I , , , I , . , I , I I I I , , I , , , I , I I I
2.0
INVENTORY-SALES RATIOS
1.5
1.0
I
I
<
I
1959
I
I
I
I
60
I
i
» »
61
I
» < I
62
I
I
I
I
I
63
U.S. Department of Commerce, Bureau of Economic Analysis
I
1 »
64
I
t
I
.
65
I
i
I
I
66
I
I
I
I
67
I
I
I
I
68
I
I
I
t
69
I
.
I
. 1 .
70
.
I
71
I
I
I
I
72
I
I
I
. I
73
I
.
I
74
I
!
I
i
I
75
76-5
I
I
I
76
SUEVEY OF CUEEENT BUSINESS
14
May 1976
Table 1.—Manufacturing and Trade Inventories in Constant
[Billions of
1 Manufacturing and trade
2
3
4
5
6
7
8
9
in
11
12
13
14
15
16
17
18
19
20
24
25
26
27
28
29
30
19 61
I
II
III
IV
I
II
III
IV
I
II
19 32
III
IV
I
II
III
IV
130 7
114.9
117.6
117.6
119.3
122 4
123.4
123 9
122 9
121 7
121 9
123 2
124 2
126 5
128 2
129 8
__
69.2
70.4
70.0
71.1
72.4
72.9
73.3
72.4
72.1
72.3
73.1
74.2
75.7
76.9
77 9
78.4
-
42.9
43.9
43.3
43.9
45.2
45.4
45.5
44.7
44.0
43.8
44 4
45 2
46 6
47 3
47 9
48 1
Primary metals
- Fabricated metal products
Machinery, except electrical
Electrical machinery _ . _
Motor vehicles and parts
Other transportation equipment. ._
9.0
5.9
8.7
6.3
8.4
5.8
87
5.7
90
5.9
9 4
5.8
9.4
5.9
93
5.7
93
5.5
93
5.5
95
5.7
4.5
29
5.9
4.7
33
5.9
4.8
32
5.7
4.9
33
5.6
5.2
34
5.6
81
5.3
34
5.4
5.3
34
5.3
5.3
32
5.2
5.3
30
5.2
82
5.4
29
5.1
55
30
5.1
8 2
98
5.8
7.6
57
32
5.0
99
6.0
7.9
59
34
5.1
99
6.0
8. 1
6 2
35
5.2
0
97
6.0
8.5
65
35
5.3
0 0
99
6.1
8.3
64
34
5.3C
26.2
26.5
26.7
27.2
27.3
27.5
27.8
27.7
28 1
28 6
28 7
29 0
29 1
29 6
30 0
30 3
83
17.9
1 9
3.0
2.3
1.0
9.6
8.5
18.0
19
3.1
2.4
1.0
9.6
85
18.3
19
3.2
2.4
1.1
97
85
18.7
19
3.3
2.4
1.1
99
83
18 9
20
3.3
2.4
1.1
10 1
83
19.2
20
3.4
2.4
1.2
10.2
85
19 3
20
3.4
2.3
1.1
10 4
85
19.1
20
3.4
2.3
1.1
10 3
87
19.4
20
3.5
2.4
1.1
10 4
89
19.6
21
3.5
2.4
1.1
10 5
9 0
19.7
21
3.5
2.4
1.2
10 6
9 0
19 9
21
3.6
2.4
1.2
10 7
9 0
20.1
2 2
3.6
2.4
1.2
10 8
93
20 3
2 2
3.7
2.4
1.3
10 8
9 3
20 7
2 2
3.8
2.4
1.3
11 0
95
20 9
2 2
3.9
2.5
1.3
11 0
15.7
16.3
16 5
17.1
17 5
17 6
17 5
17 4
17 6
17 7
17 9
17 9
18 0
18.3
18 1
18.3
90
9 4
93
95
10 1
10 1
10 1
10 0
10 0
9 9
10 1
10 3
10 4
10 5
10 6
10 7
67
6
2.7
4.0
2.8
4.1
3.0
4.2
34
4.1
32
4 2
32
4.3
31
4.2
32
4.1
35
4.2
3.5
4.3
35
4.2
34
4.2
3.4
4.3
3.6
4.3
32
4.3
3.2
4.5
30.0
30.9
31.1
31.1
32.5
32.8
33.1
33.0
31.9
31.8
32.2
32.2
32.7
33.0
33.7
34.0
13.2
13.8
13 8
13 5
14 5
14 8
14 9
14 8
14 0
13 8
13 7
13 6
13.7
13.7
14.2
14.4
4.9
8.3
5.4
8.4
5.3
8.5
4.9
8.7
5.8
87
6.1
8.7
6.2
87
6.1
8.7
5.4
86
5.4
8.5
5.4
8.4
5.3
8.3
5.4
8.3
5.3
8.4
5.7
8.6
5.8
8.5
16.8
17.1
17.3
17 6
18 0
18 1
18 2
18 2
17 9
18 0
18 4
18 6
19.0
19.3
19.5
19.6
4.1
14 4
4.2
14.9
4.2
15.1
4.3
15.2
4.3
15.4
Manufacturing
Durable goods
Nondurable goods
-
-
Food and kindred products Nonfood
_ _ -_
Paper and allied products
Chemicals and allied products _ . _
Petroleum and coal products
Rubber and plastic products
Other nondurable goods 2
Merchant wholesalers
Durable goods
21
22
23
19 60
1959
Line
Groceries and farm products
Other nondurable goods. _ ._
- -
Retail trade
Durable goods
Automotive dealers
Other durable goods
Nondurable goods
Food stores ..
Other nondurable goods
3.9
12.9
0 Q
Q c
Q
A
Q 1
o o
8
8
Q C
Q
4.0
13.1
4.0
13 3
4.1
13 5
4.2
13 9
4.2
13 8
1968
4.2
14 0
4.2
14 0
4.0
13 9
4.0
14 0
1969
4.2
14 3
1971
1970
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
1 Manufacturing and trade
177 2
180 1
182 1
184 0
186 1
188 4
191 2
192 7
193 4
194 2
195 5
195 7
196.9
198.9
199.9
200.3
2
106.2
108.0
109.6
110.7
111.9
113.5
115.1
115.8
116.5
116.6
116.8
117.1
116.4
116.7
115.7
115.4
69.8
71.0
72.0
72.7
73.6
75.0
75.9
76.6
77.1
76.8
77.0
77.0
76.1
76.3
75.2
74.5
11.8
8.1
13.0
10.1
11.6
8.3
13.2
10 2
11.8
8.5
13.5
10 4
11.7
8.4
14.0
10 6
11 8
8.5
14.9
11 0
12.2
11.5
12.3
11.7
13.2
12.1
13.3
12.1
12.1
8.7
15.1
11 0
4.8
13.1
12 1
12.3
8.6
15.3
11 0
4.7
12.8
12.2
12.4
8.7
15.4
11 0
4.7
12.5
12.4
12.5
8.8
15.5
11 0
4.8
11.9
12.4
12.4
9.0
15.4
10.8
11.7
11 0
11 8
8.5
14.3
10 8
4.9
12.8
11 9
11.9
8.4
14.6
10 9
11.1
11.0
11.7
8.4
13.4
10 3
5.0
11.9
11.2
11.4
12.4
12.4
9.2
15.3
10.7
5.0
11.3
12.3
12.3
9.1
15.1
10.5
4.7
11.3
12.3
12.4
8.8
14.9
10.4
4.6
11.1
12.3
36.4
36 9
37.6
38.0
38.4
38 6
39.1
39.2
39 4
39.8
39.7
40.1
40.3
40.5
40.5
40.8
10.5
26.0
2.8
5.5
2.7
1.9
13.1
10.5
26.4
2.8
5.5
2.7
1.9
13.4
10.9
26.7
2.8
5.7
2.8
2.0
13.5
10.8
27.2
2.8
5.8
2.8
2.0
13.8
10.7
27.6
2.9
6.0
2.7
2.1
13.9
10.8
27.8
2.9
6.2
2.7
2.1
13.9
10.9
28.3
3.0
6.3
2.7
2.2
14.1
10.7
28.6
3.1
6.4
2.8
2.2
14.0
10.9
28.5
3.1
6.5
2.9
2.3
13.8
10.9
28.9
3.1
6.7
2.9
2.3
13.9
10.8
29.0
3.1
6.8
2.9
2.3
13.9
11.1
29.0
3.1
6.9
2.9
2.3
13.8
11.1
29.2
3.1
7.0
2.9
2.3
13.9
11.1
29.4
3.2
7.0
2.9
2.4
13.9
11.2
29.4
3.2
7.0
3.0
2.3
13.9
11.3
29.5
3.2
7.0
2.9
2.4
14.0
25.7
14.9
26.1
15.2
26.3
15.4
26.4
15.7
26.7
15.8
27.1
16.2
27.3
16.4
27.6
16.6
28.0
16.8
28.3
16.8
29.0
17.1
29.7
17.3
29.6
17.4
30.2
17.8
30.5
18.2
31.1
18.6
10.8
10.9
10.9
10.7
10.9
10.9
11.0
11.0
11.2
11.5
11.8
12.4
12.2
12.3
12.4
12.5
4.8
6.0
4.8
6.1
4.6
6.2
4.5
6.2
4.6
6.3
4.4
6.5
4.3
6.7
4.3
6.7
4.3
6.9
4.6
6.9
4.8
7.0
5.2
7.2
4.9
7.3
4.9
7.4
4.8
7.6
4.7
7.8
45.3
46.0
46.2
47.0
47.5
47.7
48.8
49.4
48.9
49.3
49.8
49.0
50.9
52.0
53.6
53.7
20.0
20.7
20.7
21.3
21.5
21.3
22.1
22.5
22.0
22.1
22.4
21.2
22.4
23.2
24.4
24.2
8.6
11.4
9.2
11.5
9.3
11.3
9.8
11.5
9.9
11.6
9.8
11.5
10.4
11.7
10.7
11.8
10.3
11.7
10.5
11.7
10.7
11.7
9.3
11.9
10.5
11.9
11.2
12.0
12.2
12.2
11.7
12.4
25.3
25.3
25.5
25.7
26.0
26.4
26.7
26.9
26.9
27.2
27.4
27.8
28.5
28.8
29.2
29.6
5.2
20.1
5.2
20.1
5.3
20.3
5.3
20.4
5.4
20.5
5.4
21.0
5.5
21.2
5.5
21.4
5.4
21.5
5.5
21.7
5.5
21.9
5.6
22.1
5.8
22.7
5.9
22.9
5.9
23.3
6.0
23.6
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Manufacturing
Durable goods
Primary metals
Fabricated metal products .
Machinery, except electrical
.
Electrical machinery
Motor vehicles and parts
- _
Other transportation equipment. _ .
Other durable goods *
Nondurable goods
Food and kindred products
Nonfood
- . - -_
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastic products
Other nondurable goods 2
19
20
Merchant wholesalers
Durable goods
._
21
Nondurable goods
22
23
24
25
26
27
28
29
30
-
-
...
Groceries and farm products
Other nondurable goods
Retail trade
..
Durable goods
Automotive dealers
Other durable goods
Nondurable goods
Food stores _ Other nondurable goods .
.
4.8
4.9
4.9
4.9
1. Includes stone, clay and glass products; instruments and related products; and other
durable goods.
2. Includes tobacco manufacturers; textile mill products; apparel products; printing and
publishing; and leather and leather products.
NOTE.—Manufacturing inventories are classified according to the type of product produced
4.8
4.9
4.7
by the establishment holding the inventory; trade inventories are classified according to the
major type of product sold by the establishment holding the inventories; constant dollar
inventories in table 7 of the national income and product tables include, in addition to the
industries shown here, nonmerchant wholesalers, other nonfarm industries, and farms (see
text).
SURVEY OF CURRENT BUSINESS
May 1976
15
Dollars, Seasonally Adjusted, End of Quarter, 1959-76-1
1972 dollars]
1964
1963
I
132.0
I
II
III
IV
133.1
134.9
136.2
137.6
19(55
II
III
IV
139.4
141.4
143.2
1966
II
III
IV
146.0
147.9
150.5
152.2
155.3
85.4
86.4
87.9
89.1
I
I
1967
I
III
IV
159.6
163.2
168.0
171.3
90.6
93.2
96.0
99.0
II
II
Line
III
IV
172.4
174.3
176.5
1
101.9
103.5
104.6
105.9
2
79.1
79.8
80.4
80.8
81.3
81.8
82.6
84.7
48.7
49.4
49.7
49.7
50.1
50.6
51.2
52.7
53.4
54.6
56.0
56.7
57.9
59.7
62.2
64.5
66.6
67.7
68.5
69.6
3
9.7
9.8
a n
9.7
o O
9.8
9.8
9.9
9.8
10.2
10.4
ft A.
9.8
10.0
R A.
9.9
10.7
10.9
11.1
11.3
8.9
6.6
qQ
5.8
8.7
9.1
6.6
39
5.8
8.9
9.8
6.9
43
5.9
9.1
10.3
7.3
10.7
7.5
10.9
7.7
11.2
8.0
11.6
8.4
12.1
8.9
12.6
9.3
13.0
9.7
4. ^
13.2
10.1a
6
7
5.7
8.7
8.8
6.6
37
5.8
8.7
10.0
7.1
5.5
8.7
8.7
6.6
38
5.8
8.7
11.8
8r\
13.2
9.9
4
8.7
6.6
o 7
11.7
8(\
13.1
9.7
11.8
8.6
6.50
9.9
fi R
9.4
6.7
40
5.8
8.9
5.9
9.2
5.9
9.3
6.0
9.4
6.2
9.4
6.3
9.7
6.8
10.0
7.5
10.3
8.3
10.6
9.1
10.8
9.8
11.0
10.2
10.9
10.8
11.1
9
10
30.4
30.4
30.7
31.1
31.2
31.2
31.4
32.0
32.0
31.8
31.9
32.4
32.7
33.5
33.8
34.5
35.4
35.8
36.1
36.3
11
9.4
21.1
2.2
3.9
2.5
1.3
11.2
9.2
21.3
2.2
3.9
2.5
1.4
11.2
9.5
21.2
2.2
3.9
2.5
1.4
11.2
9.7
21.4
2.3
4.0
2.5
1.3
11.3
9.8
21.4
2.3
4.1
2.5
1.3
11.2
9.8
21.4
2.3
4.1
2.5
1.4
11.2
9.8
21.6
2.3
4.2
2.5
1.4
11.3
10.0
22.0
2.3
4.2
2.5
1.5
11.6
9.9
22.0
2.3
4.3
2.5
1.5
11.4
9.6
22.2
2.3
4.4
2.5
1.5
11.5
9.4
22.5
2.4
4.5
2.4
1.6
11.6
9.3
23.1
2.4
4.6
2.5
1.6
12.0
9.4
23.4
2.5
4.7
2.5
1.6
12.1
9.7
23.9
2.5
4.9
2.4
1.7
12.3
9.6
24.2
2.6
5.1
2.5
1.7
12.4
9.7
24.7
2.7
5.2
2.5
1.7
12.6
10.1
25.3
2.8
5.4
2.5
1.8
12.8
10.2
25.7
2.8
5.4
2.6
1.8
13.0
10.2
25.9
2.8
5.4
2.6
1.8
13.2
10.5
25.9
2.8
5.5
2.7
1.8
13.1
12
13
14
15
16
17
18
18.5
18.8
19.3
19.8
20.0
20.4
20.6
20.9
21.6
21.9
22.2
22.1
22.8
23.2
23.7
24.6
25.1
24.8
25.3
25.8
19
10.8
11.0
11.2
11.3
11.3
11.7
11.8
12.1
12.6
12.7
13.0
13.0
13.6
13.8
14.0
14.5
14.7
14.6
14.7
14.9
20
3
&
A
ft Q
7
Q
4
7.7
7.8
8.2
8.5
8.6
8.7
8.8
8.8
9.1
9.2
9.3
9.1
9.2
9.4
9.6
10.1
10.4
10.2
10.6
10.9
21
3.3
4.5
3.3
4.5
3.6
4.6
3.9
4.6
4.0
4.6
4.0
4.7
4.0
4.8
4.0
4.8
4.0
5.0
4.1
5.1
4.1
5.1
3.9
5.2
3.8
5.5
4.0
5.3
4.1
5.5
4.3
5.8
4.6
5.8
4.4
5.8
4.8
5.8
4.9
6.0
22
23
34.4
34.5
35.1
35.7
36.3
37.2
38.1
37.6
39.0
39.7
40.4
41.0
41.9
43.2
43.6
44.4
44.3
44.1
44.4
44.8
24
14.4
14.3
14.7
15.2
15.7
16.0
16.6
16.0
17.0
17.5
18.0
18.2
18.7
19.7
19.7
20.2
19.9
19.4
19.6
19.7
25
6.0
8.5
5.9
8.4
6.1
8.5
6.5
8.7
6.8
8.9
6.9
9.1
7.4
9.1
6.7
9.3
7.4
9.6
7.9
9.6
8.3
9.7
8.5
9.7
8.6
10.1
9.1
10.6
8.9
10.8
9.3
10.9
8.8
11.1
8.3
11.1
8.3
11.3
8.3
11.5
26
27
20.0
20.2
20.4
20.4
20.7
21.2
21.6
21.6
22.0
22.2
22.4
22.8
23.2
23.5
23.8
24.2
24.4
24.7
24.8
25.0
28
4.4
15.6
4.6
15.6
4.5
15.9
4.5
16.0
4.6
16.0
4.7
16.5
4.7
16.8
4.8
16.9
4.6
17.6
4.5
17.9
4.9
18.9
4.9
19.3
5.0
19.4
5.1
19.6
5.1
19.7
5.2
19.9
29
30
IS 72
I
II
4.7
17.4
IV
I
4.7
18.5
19 ?4
19 73
III
4.8
18.0
II
III
IV
I
4.8
18.7
1976
1975
II
III
IV
I
II
III
IV
I
II
III
IV
200.8
202.5
204.9
206.9
209.2
211.4
213.9
219.0
221.4
223.1
224.3
226.5
222 2
217.9
217.5
216.0
217.8
1
115.1
115.7
117.0
117.5
118.7
119.9
121.4
123.6
125 5
126 4
127 8
129 5
128 8
126 4
125 1
124.5
124.4
2
74.5
75.1
76 0
76 8
78 0
79 1
81 0
82 8
84 3
84 5
85 2
86 3
86 4
85 2
83 6
82 5
81 7
3
12.5
8.6
14.8
10.4
4.7
11.0
12.4
12.8
8.6
14.8
10.5
4.8
11.0
12.4
12.9
87
15.1
10.7
51
11.0
12 5
12.8
89
15.5
10.9
5.1
11.2
12 5
12.4
92
16.0
11.4
51
11.2
12 6
12.4
91
16.6
11.7
5.5
11.0
12 8
12.3
93
17.2
12.0
58
11.2
13 2
12.1
96
17.9
12.5
60
11 2
13 6
11 9
9 7
18 5
12.7
59
11 4
14 2
11.9
96
18 8
12.7
58
11 3
14 5
12.1
95
18.8
12.7
59
11 3
15 0
12 6
99
19 1
12.7
59
11 1
15 0
13 6
10 0
19 3
12.4
54
11 2
14 4
14 2
95
19 0
11.9
54
11 2
13 9
14.0
93
18 7
11.6
52
11 3
13 6
14.0
9 2
18.0
11.6
5.0
11.0
13 5
14.1
9.1
17.7
11.5
5.1
10.8
13 4
4
5
6
7
8
9
10
40.7
40.7
41.0
40.7
40.8
40.8
40.4
40.8
41 2
41.9
42.5
43 2
42 4
41.2
41.5
42.1
42.7
11
11.2
29.5
3.2n
11.2
29.5
3.20
11.3
29.7
3.2
11.0
29.7
3.2
11.1
29.7
3.2
11.0
29.8
3.2
10.6
29.8
3.2
11 0
29 7
11 1
30 1
11 2
30.6
3.4
11 2
31.4
3.5
11 0
32 2
3.6
10 4
31 5
3.6
10 9
30 8
3.5
10 8
30 7
3.5
11 2
30 9
3.5
11.5
31.2
3.5
13
2.9
2.4
13.9
2.9
2.5
13.9
2.8
2.6
13.9
2.7
2.6
14.0
2.6
2.6
14.2
2.6
2.7
14.1
25
2.8
14 0
25
14 1
28
28
14 4
29
27
14 8
31
27
15 0
32
26
14 4
32
25
14 0
32
2.5
14 0
o q
2.4
13 9
26
,2 8
14.2
3.4
2.5
14.2
16
17
18
31.3
18.7
31.7
19.1
32.5
19.4
33.0
19.9
33.5
20.3
33.8
20.7
34.2
20.7
35.2
21.2
36 3
21 7
37 3
22 4
37 4
22.9
37 8
23.4
36 8
23.3
36 0
22.8
36 0
22.5
35.9
22.6
36.6
22.9
19
20
12.6
12.6
13.1
13.1
13.2
13.1
13.5
14.0
14 5
14.9
14.5
14.3
13.4
13.1
13.6
13.3
13.7
21
4.8
7.8
4.7
7.9
5.3
7.8
5.1
7.9
5.2
8.0
49
8.2
51
8.4
54
8.6
58
88
61
88
57
8.8
54
89
49
85
50
82
53
83
48
8.4
51
8.6
22
23
54.4
55.0
55.3
56.5
57.0
57.8
58 4
60 3
59 7
59 5
59 1
59 2
56 6
55 5
56 4
55.6
56.8
24
24.2
24.4
24.4
25.7
25.8
26.5
27.2
28.0
27 5
26.9
26 8
27.9
25 4
24 6
25.5
25.2
25.0
25
11.5
12.7
11.3
13.1
11.2
13.2
12.0
13.7
12.2
13.6
12.8
13.7
13 4
13.8
14 2
13.8
13 6
13 9
13 1
13 9
13 1
13 7
14 4
13 5
12 3
13 0
11 8
12 8
12 7
12 9
12 4
12.8
12.2
12.9
26
27
30.1
30.7
30.9
30.8
31.2
31.3
31 2
32 2
32 2
32 5
32 3
31 3
31 3
30 9
30 9
30 4
31 8
28
6.0
24.1
6.0
24.6
6.1
24.9
5.9
24.9
5.7
25.5
5.6
25.6
5.5
25 7
5.8
60
26 2
6.1
26 4
5.8
26 5
58
25 5
6.0
25 3
59
25 0
60
24 9
5.9
24 5
6.2
25 6
29
30
7
7
3.2
2.9
26 5
3.3
12
14
i f\
SURVEY OF CURRENT BUSINESS
16
May 1976
Table 2.—Manufacturing and Trade Sales in Constant
[Billions of
1959
Line
I
II
III
IV
1 Manufacturing and trade
75.3
77.9
76.5
2
38.0
39.9
38.1
20.3
21.8
3.7
2.3
2.8
1.9
3.0
1.9
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Manufacturing
Durable goods
Primary metals
Fabricated metal products
Machinery, except electrical
E lectrical machinery ... . .
Motor vehicles and parts
Other transportation equipment- _ .
Nondurable goods
Food and kindred products
Nonfood
Paper and allied products _ . _ Chemicals and allied products
Petroleum and coal products
Rubber and plastic products
Other nondurable goods 2
Merchant wholesalers -_ .
20
Durable goods
21
Nondurable goods
22
23
24
...
Groceries and farm products
0 ther nondurab le goods . _ .
Retail trade
1961
1960
I
II
III
IV
I
II
III
IV
76.3
78.7
78.0
77.3
76.6
75.2
76.8
78.5
81.0
38.4
40.1
39.2
39.0
38.4
37.2
38.4
39.7
41.1
20.0
20.2
26.7
20.9
20.7
20.2
19.1
20.0
20.7
4.6
2.3
2.9
2.0
3.2
2.0
2.7
2.3
2.9
2.1
3.0
21
3.4
2.3
3.0
2.1
2.6
2.0
3.9
2.3
2.9
2.1
3.6
2.0
3.5
2.2
2.9
2.1
3.4
2.0
3.5
2.2
2.9
2.1
3.4
1.9
3.3
2.2
2.8
2.2
3.1
2.0
3.0
2.1
2.8
21
2^6
2.0
3.3
2.2
2.8
2.2
2.9
2.0
17.6
18.1
18.2
18.3
18.4
18.3
18.2
18.2
18.1
6.6
11.0
1.4
2.1
1.5
.7
5.4
6.7
11.4
1.4
2.2
1.5
.7
5.5
6.7
11.4
1.4
2.3
1.5
.7
5.4
7.0
11.3
1.4
2.3
1.6
.7
5.4
6.9
11.5
1.4
2.3
1.6
.7
5.5
6.9
11.4
1.4
2.2
1.6
.7
5.5
6.9
11.3
1.4
2.2
1.6
.7
5.5
6.9
11.3
1.4
2.2
1.5
.7
5.5
13.9
14.4
14.4
14.5
14.8
14.6
14.4
6.0
6.4
6.3
6.2
6.4
6.2
6.1
7.9
8.0
8.1
8.2
8.3
8.4
3.9
4.0
4.0
4.1
4.0
4.1
4.2
4.1
4.2
4.1
23.4
23.6
24.0
23.4
23.8
II
III
IV
82.0
82.8
83.2
84.3
41.7
41.8
41.9
42.3
21.8
22.4
22.4
22.4
22.6
3.8
2.2
2.9
2.3
2.9
2.0
3.9
2.3
3.0
2.4
3.2
2.0
4.0
2.4
3.0
2.5
3.5
2.1
3.7
2.4
3.2
2.6
3.6
2.1
3.7
2.4
3.2
2.6
3.8
2.0
3.8
2.4
3.1
2.6
3.9
2.0
18.4
18.9
19.3
19.3
19.4
19.4
19.7
6.9
11.2
1.4
2.2
1.5
.7
5.5
7.0
11.4
1.5
2.3
1.6
.7
5.4
7.1
11.8
1.5
2.4
1.6
.8
5.7
7.1
12.2
1.5
2 5
1.6
.8
5.8
7.0
12.3
1.5
2.5
1.6
.8
5.8
7.2
12.2
1.5
2.5
1.6
.8
5.8
7.1
12.3
1.6
2.5
1.6
.8
5.9
7.2
12.5
1.6
2.6
1.6
.8
5.9
14.5
14.6
15.0
15.2
15.6
15.6
15.9
15.9
16.1
6.1
6.1
6.3
6.5
6.7
6.8
6.9
6.9
7.1
8.2
8.4
8.5
8.7
8.7
8.9
8.8
9.0
8.9
9.0
4.2
4.2
4.2
4.1
4.4
4.0
4.3
4.1
4.5
4.2
4.5
4.2
4.5
4.3
4.5
4.3
4.6
4.3
4.6
4.4
4.6
4.5
24.2
24.0
23.8
23.4
23.4
23.7
24.3
24.7
25.1
25.4
25.9
6.8
6.9
4.2
3.3
4.3
3.3
4.3
3.4
4.6
3.4
7.2
25
26
27
28
29
30
Automotive dealers .
Other durable goods
Nondurable goods
Food stores
Other nondurable goods
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Manufacturing
Durable goods
Primary metals . ._ ... ... ... .
Fabricated metal products
Machinery, except electrical
Electrical machinery
Motor vehicles and parts
__ Other transportation !equipment
Other durable goods _ ._ ..
Nondurable goods
Food and kindred products
Nonfood
. ...
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Other nondurable goods 2
Merchant wholesalers
20
Durable goods
21
Nondurable goods.
22
23
24
25
26
27
28
29
30
...
._ _
Groceries and farm products
Other nondurable goods
Retail trade
Durable goods
... .
Automotive dealers
Other durable goods.. .
Nondurable goods
Food stores
Other nondurable goods
._ .
...
4.1
3.4
4.3
3.4
3.7
3.3
4.1
3.2
4.2
3.3
4.1
3.3
4.0
3.2
3.7
3.2
3.7
3.1
3.8
3.2
16.0
16.1
16.3
16.4
16.4
16.7
16.6
16.6
16.6
16.7
16.8
17.1
17.3
17.5
17.8
17.9
5.6
10.4
5.7
10.4
5.7
10.5
5.8
10.6
5.9
10.6
5.9
10.7
5.9
10.6
5.9
10.6
6.0
10.6
6.1
10.6
6.1
10.7
6.2
10.9
6.2
11.1
6.2
11.3
6.3
11.4
6.4
11.5
1971
1970
1969
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
110.7
111.8
112.7
114.2
114.5
114.8
115.4
115.6
113.0
112.3
112.9
110.4
113.7
116.3
117.2
119.0
57.6
58.2
58.1
59.6
59.9
59.7
60.4
60.5
57.9
57.0
57.0
55.0
57.0
58.2
58.2
59.5
32.6
32.9
32.6
33.7
34.0
33.5
34.0
33.7
31.6
31.1
31.2
29.3
31.0
31.5
31.3
31.7
5.0
3.6
4.8
4.3
4.6
3.7
6.7
5.3
3.5
4.8
4.2
5.0
3.4
6.7
5.0
3.5
4.9
4.2
4.9
3.5
6.7
5.1
3.5
5.1
4.3
5.6
3.4
6.7
5.3
3.6
5.1
4.5
5.2
3.5
6.9
5.1
3.6
5.2
4.5
4.8
3.4
7.0
5.4
3.6
5.2
4.5
5.2
3.4
6.7
5.5
3.7
5.2
4.3
5.0
3.4
6.7
5.0
3.6
5.1
4.1
4.2
3.1
6.5
4.5
3.4
5.0
4.2
4.5
3.1
6.3
4.8
3.4
5.0
4.5
3.3
4.8
3.3
4.8
5.1
3.4
4.2
3. 6
4.4
2.9
6.4
3.4
2.8
6.2
5.0
2.8
6.2
4.9
3.0
6.3
5.6
2.6
6.4
4.3
3.6
4.9
4.3
5.4
2.8
6.6
25.0
25.3
25.6
25.9
25.9
26.2
26.4
26.7
26.3
25.9
25.8
25.7
26.1
26.7
26.9
27.8
8.4
16.5
2.0
3.8
2.1
1.2
7.4
8.5
16.8
2.1
3.9
2.1
1.3
7.5
8.7
16.9
2.1
4.0
2.1
1.3
7.3
8.8
17.1
2.1
4.1
2.2
8.6
17.3
2.2
4.1
2.2
8.7
17.5
2.2
4.1
2.2
8.7
17.7
2.2
4.2
2.2
7.3
7.5
7.6
7.6
8.9
17.8
2.2
4.3
2.3
1.5
7.6
8.8
17.5
2.2
4.3
2.3
1.4
7.3
8.8
17.1
2.1
4.2
2.2
1.3
7.2
8.6
17.2
2.1
4.2
2.2
1.3
7.3'
8.8
16.9
2.1
4.2
2.2
1.2
7.2
8.9
17.2
2.1
4.2
2.2
1.3
7.3
9.0
17.7
2.2
4.3
2.3
1.4
7.5
9.0
17.9
2.2
4.4
2.3
1.5
7.5
9.4
18.4
2.2
4.5
2.4
1.5
7.8
20.9
20.9
21.4
21.5
21.4
22.1
22.1
22.3
22.1
21.8
22.2
22.3
22.6
23.3
23.7
23.6
9.5
9.4
9.7
9.9
10.0
10.2
10.2
10.2
10.1
9.8
10.0
10.0
10.1
10.6
10.7
10.9
11.4
11.5
11.6
11.4
11.9
11.9
12.1
12.0
12.0
12.1
12.3
12.4
12.7
12.9
12.7
5.8
5.7
5.7
5.7
5.8
5.9
5.8
5.8
5.7
5.7
5.9
6.0
5.9
6.0
6.0
6.1
6.0
6.0
6.0
6.0
6.0
6.2
6.1
6.2
6.2
6.3
6.2
6.5
6.5
6.5
6.3
6.4
32.2
32.7
33.2
33.1
33.1
33.0
32.9
32.9
33.0
33.4
33.8
33.1
34.1
34.8
35.3
35.9
10.2
10.5
10.7
10.7
10.7
10.6
10.5
10.4
10.2
10.4
10.5
9.6
10.6
11.0
11.4
11.9
6.0
4.2
6.1
4.3
6.3
4.4
6.3
4.4
6.4
4.3
6.2
4.4
6.3
4.3
6.1
4.3
6.0
4.3
6.0
4.4
6.0
4.5
5.1
4.5
6.2
4.4
6.5
4.5
6.8
4.6
7.1
4.8
22.0
22.3
22.5
22.4
22.4
22.4
22.4
22.5
22.8
23.0
23.2
23.5
23.5
23.8
23.9
24.1
7.9
15.6
7.9
15.6
7.8
16.0
7.8
16.1
7.8
16.3
7.2
14.8
7.3
14.9
11.7
7.4
15.1
7.4
15.0
7.4
14.9
1. Includes stone, clay, and glass products; instruments and related products; and other
durable goods.
8.0
4.0
3.4
1968
1 Manufacturing and trade -
6.9
I
4.1
3.2
Line
2
1962
7.4
15.0
7.4
15.0
7.4
15.1
7.5
15.2
7.6
15.3
7.8
15.4
2. Includes tobacco manufacturers; textile mill products; apparel products; printing and
publishing; and leather and leather products.
SUEVEY OF CUEEENT BUSINESS
May 1976
17
Dollars, Seasonally Adjusted Quarterly Totals at Monthly Rates, 1959-76-1
1972 dollars]
1965
19 34
19<33
I
II
85.1
86.5
87.7
42.8
44.0
22.7
3.8
2.4
o n
2.7
3.8
2.1
4.9
2.8
3.8
2.1
5.0
20.1
7.4
12.7
1.6
2.7
I
II
88.8
90.1
92.0
93.5
44.5
45.3
45.8
46.7
23.8
24.1
24.5
24.8
4.2
2.5
q 0
4.0
2.6A
4.1
2.7
q C
2.8
3.7
2.4
5.0
2.8
4.0
2.3
5.1
4.2
2.7
3 0
2.9
4.0
2.3
5.1
20.2
20.4
20.7
21.0
7.4
12.8
1.6
2.8
7.4
13.0
1.6
2.8
7.5
13.2
1.6
2.8
7.7
13.3
1.6
2.9
.8
5.9
.8
5.9
.9
6.0
.9
6.1
.9
6.2
16.3
16.5
16.9
17.0
7.2
7.3
7.4
7.5
9.1
9.2
9.5
4.6
4.5
4.7
4.5
4.9
4.6
26.0
26.1
26.2
8.0
8.1
8.0
4.6
3.4
4.6
3.4
17.9
6.4
11.6
III
IV
I
II
III
94.4
97.2
98.3
47.3
47.9
49.5
25.2
25.6
25.9
4.3
2.7
q 7
4.6
2.8Q
4.9
2.8
III
IV
19 57
Line
IV
I
II
III
IV
I
II
III
IV
99.7
102.2
104.6
105.1
105.3
106.1
105.7
106.4
107.2
108.7
1
50.3
51.0
52.0
53.3
54.1
54.1
55.0
54.5
54.9
55.3
56.7
2
27.5
27.9
28.6
29.4
30.3
30.8
30.8
31.5
30.5
30.7
31.1
31.7
3
4.9
2.9
5.0
3.0
5.0
3.0
4.8
3.1
5.1
3.2
5.2
3.3
5.4
3.3
5.3
3.3
4.9
3.3
4.7
3.3
4.8
3.4
5.0
3.5
4
5
3
3
3.0
3.8
2.3
5.3
3.2
4.7
2.4
5.4
3.3
4.7
2.4
5.5
3.4
4.8
2.5
5.6
3.6
5.1
2.5
5.8
3.8
5.0
2.8
5.9
3.9
4.8
2.9
6.0
4.0
4.2
3.0
6.0
3.9
5.0
3.0
5.9
4.0
4.3
3.1
6.1
3.9
4.5
3.3
6.2
4.0
4.1
3.5
6.4
4.2
4.0
3.6
6.6
7
8
9
10
21.5
21.7
21.9
22.1
22.4
22.4
22.6
23.0
23.3
23.3
23.5
24.0
24.2
24.2
25.0
11
7.8
13.7
1.7
3.0Q
7.9
14.1
1.8
3.1
1 o
7.7
14.3
1.8
3.20
7.8
14.6
1.8
3.3
7.8
14.6
1.8
3.3
7.9
15.1
1.9
3.5
1 8
8.0
15.3
1.9
3.5n
7.8
15.5
2.0
3.5
1 8
7.8
14.7
1.9
3.40
8.0
15.5
2.0
3.6n
8.3
15.7
2.0
3.6n
8.5
15.7
1.9
3.6
8.4
15.9
1.9
3.6
.9
6.3
7.8
13.9
1.7
3.0
i s
.9
6.3
1.0
6.4
1.0
6.6
1.0
6.6
1.0
6.6
6.6
1.1
1.1
6.8
6.8
7.0
6.9
7.0
1.1
1.2
7.1
1.2
7.1
8.7
16.3
2.0
3.7
21
1.2
7.3
12
13
14
15
ift
17
18
17.5
17.9
18.3
18.7
18.8
18.9
19.2
19.6
20.2
20.3
20.1
20.2
20.2
20.2
20.4
20.7
19
7.7
7.9
8.1
8.2
8.4
8.4
8.6
8.8
9.3
9.3
9.2
9.1
9.0
8.9
9.1
9.3
20
9.5
9.8
10.0
10.2
10.5
10.4
10.5
10.5
10.8
10.9
11.0
10.9
11.1
11.2
11.3
11.3
11.4
21
4.9
4.6
5.1
4.7
5.1
4.9
5.2
5.0
5.4
5.1
5.2
5.1
5.4
5.1
5.4
5.1
5.5
5.3
5.4
5.5
5.5
5.5
5.4
5.5
5.5
5.6
5.6
5.6
5.7
5.5
5.7
5.6
5.8
5.6
22
23
26.5
26.8
27.5
28.0
27.8
28.9
29.1
29.6
30.6
31.1
30.7
31.0
30.9
31.0
31.4
31.5
31.3
24
8.4
8.3
8.5
8.7
8.4
9.2
9.3
9.5
9.9
10.2
9.6
9.9
9.9
9.8
10.0
10.0
9.8
25
4.5
3.5
4.8
3.6
4.7
3.6
4.9
3.7
5.0
3.7
4.8
3.7
5.6
3.7
5.5
3.8
5.6
3.9
5.8
4.1
6.0
4.2
5.6
4.0
5.8
4.1
5.6
4.1
5.7
4.2
5.8
4.1
5.9
4.2
5.5
4.3
26
27
18.0
18.1
18.2
18.5
18.9
19.3
19.4
19.6
19.7
20.1
20.7
20.9
21.1
21.2
21.0
21.3
21.4
21.5
21.5
28
6.4
11.6
6.4
11.8
6.4
11.8
6.5
12.0
6.6
12.3
6.7
12.6
6.7
12.7
6.8
12.9
6.8
13.0
6.9
13.3
7.1
13.6
7.0
13 9
7.0
14.1
7.0
14.2
6.9
14.1
7.0
14.2
7.1
14.3
7.1
14.4
7.1
14.4
29
30
III
IV
3
2.9
4.1
2.3
5.1
1
1972
3.0
3.9
2.3
5.2
Q
1
1 8
IS 73
II
III
IV
121.4
124.0
126.2
131 1
61.1
62.5
63.5
66.5
32.8
33.8
34.4
45
3.5
5.0
45
5.5
2.8
6.9
47
3.6
5.3
45
5.6
2.7
7.3
52
3.5
5.6
46
5.5
2.7
7.3
28.3
28.7
9.4
18.9
2.3
9.5
19.2
2.3
2.4
1.6
7.9
I
19(56
I
1
I
1.1
19 74
II
III
IV
134 6
133 9
134 0
135 9
68.0
68.1
67.9
69 5
36.6
38 2
38 5
38 5
56
3.6
5.8
47
64
2.8
7.6
57
3.8
6.1
50
71
2.9
7.7
56
3.8
6.3
52
68
3.1
7.7
60
3.8
6.3
52
65
3.2
7.5
29.1
29.9
29.8
29.6
9.6
19.5
2.4
9.8
20.1
2.4
2.4
1.6
8.1
2.4
1.7
8.2
24
1.8
84
9.6
20.3
2.5
5.3
23
1.8
85
9.3
20.3
2.5
5.3
22
1.8
84
24.2
24.4
25.1
25 8
26 6
11.1
11.2
11.7
12.1
12 8
13.1
13.2
13.4
13.7
6.4
6.7
6.5
6.7
6.5
6.9
6.6
7.1
36.0
37.0
37.6
11.9
12.2
12.5
7.0
4.9
7.3
5.0
24.2
7.7
16.5
I
1 Q
1.1
I
1.1
I
I n
9 ft
IS 76
19 75
Line
II
III
IV
I
II
III
IV
I
134 9
133 9
132 3
124 2
118 9
119 9
123 6
125 1
129 0
1
68.3
67.4
66.2
62.4
56.8
57.6
60 0
61.0
63.1
2
39 3
38 4
38 0
37.5
34 9
30 8
31 0
32 1
32 3
33.7
3
65
40
6.5
52
63
3.1
62
40
6.7
53
56
3.0
60
40
67
54
58
2.6
61
38
6.6
50
64
2.3
57
35
6.5
46
53
2.2
45
31
5.9
42
45
2.1
6.4
39
31
57
43
51
2.1
6.7
44
32
56
44
56
2.1
6.9
45
33
5.8
43
54
2.1
7.0
46
3.5
5.7
45
6.2
2.1
7. 1
4
5
6
7
8
9
29.4
30 3
29 9
29 4
28.7
27.4
26 0
26 7
27.9
28.7
29.4
11
9.1
20 2
2.6
5.4
22
19
82
97
20 6
2.6
5.5
22
19
83
96
20 4
2.7
5.5
19
19
84
94
20 0
2.7
5. 2
19
18
84
92
19.4
2.6
5.0
19
18
82
91
18 4
2.4
90
17 1
2.2
91
17 6
2.2
91
18 8
2.4
9.4
19.3
2.5
9.6
19.6
2.5
12
13
14
19
1.7
79
18
15
74
20
17
83
19
1.7
86
20
1.7
8.6
16
17
18
26 6
26 8
27 8
28 7
28 8
28 1
26 1
25 8
19
16
78
25 1
25 7
25 8
26.5
19
13 0
13 2
13 5
14 0
13 8
13 4
12 4
11 6
11 1
11 5
11 6
12.1
20
13 8
13 6
13 6
14 3
14 7
15 0
14 7
13 7
14 1
14 0
14 2
14.2
14.4
21
66
7.2
64
7.2
62
74
66
77
67
81
69
79
64
73
71
70
22
23
39 2
39 3
38 6
37 9
38 0
35 8
36 3
70
7.2
37 9
7.1
7.3
39 9
69
71
37 2
71
7.1
38 7
71
79
37 7
38 4
39 4
24
13.2
14.1
13.7
13.7
13 1
12 8
13 0
11.2
11 7
12.0
12.5
12.8
13.4
25
7.4
5.1
7.9
5.3
86
5.6
82
5.5
82
5.5
76
5.5
12 8
73
5.5
73
55
75
55
61
52
66
51
68
52
72
5.3
7.3
5.5
7.9
5.6
26
27
24.8
25.1
25 5
25 8
25 6
25 6
25 4
25 0
24 9
25 1
24 5
24 6
25 2
25 4
25 6
26 0
28
8.0
16.8
8.0
17.1
8.0
17 5
8.0
17 8
7.8
17 8
7.7
17 9
7.6
17 9
7.5
17 5
75
17 5
7.6
17 4
7.4
17 1
7.5
17 1
7.6
17 6
7.6
17 8
7.6
17 9
7.9
18 1
29
30
207-050 O - 76 - 3
II
SUEVEY OF CUERENT BUSINESS
18
May 1976
Table 3.—Constant-Dollar Inventory-Sales Ratios for
[Ratio, based on
19 59
Line
1 Manufacturing and trade
2
3
4
5
6
7
g
9
10
11
12
13
14
15
16
17
18
19
Manufacturing
Durable goods _ .
Primary metals
Fabricated metal products
Machinery, except electrical _ ..
Electrical machinery
Motor vehicles and parts
Other transportation 1equipment- ..
Other durable goods ..
_ . ..
Nondurable goods
Food and kindred products
Nonfood
Paper and allied products
Chemicals and allied products. _ .
Petroleum and coal products
Rubber and plastic products
Other nondurable goods 2
Merchant wholesalers
20
Durable goods
21
Nondurable goods
22
23
24
25
26
27
28
29
30
-
.
. .
Groceries and farm products
Other nondurable goods
Retail trade
D urable goods _
Automotive dealers
Other durable goods
Nondurable goods
Food stores
. ...
O ther nondurable goods
2
3
II
III
IV
I
II
III
IV
I
II
1.53
1.51
1 54
1 56
1 56
1 58
1 60
1 60
1 62
1 59
1.82
1.77
1.84
1.85
1.81
1.86
1 89
1 94
2.11
2.02
2.17
2.18
2 08
2 17
2 19
2 22
2 30
2 19
2 14
2 08
2 08
2.42
2.59
2.53
2.31
.98
3.05
1.62
1.89
2.72
2.55
2.35
1.05
2.89
1.61
3.10
2.53
2.58
2.32
1.07
2.68
1.62
2.54
2.51
2.55
2.39
1 28
2.74
1.67
2.29
2 57
2.71
2.48
95
2.84
1.67
2.71
2 62
2 69
2.52
1 00
2.72
1.72
2.67
2 65
2 70
2.46
1 00
2.85
1.79
2.86
2 58
2 70
2 45
1 03
2.67
1 78
3.16
2 64
2 69
2.50
1 12
2.65
1.81
3.80
2 46
2 69
2.44
1 01
2.55
1.78
2.50
2 54
2 60
2.41
1 06
2.55
1.74
2.50
2 48
2 58
2.36
98
2.47
1.68
2.49
2 49
2 65
2.35
98
2.42
1.71
1.49
1.47
1.47
1.49
1.48
1 50
1 53
1 52
1 55
1 55
1 52
1 50
.26
.62
.38
.45
.52
.54
.79
1.27
I.f8
1.34
1.38
1.58
1.46
1.74
1.26
1.60
1.32
1.40
1.55
1.51
1.78
1.22
1.66
1.40
1.44
1.55
1.61
1.85
1.22
1.64
1.38
1.45
1.51
1.55
1.83
1.22
1 68
1 41
1.54
1.46
1.67
1.86
1.24
1 70
1 44
1.56
1.50
1.68
1 89
1.24
69
45
.52
.52
.65
88
.27
73
46
.58
.64
1.73
1 89
1.26
1 72
1 43
1.56
1.54
1.63
1 94
1.26
1 67
1 44
1.50
1.48
1.55
1.87
1.27
1 64
1 39
1.45
1.50
1.53
1.83
1.13
1.13
1 14
1.18
1 19
1 21
1 22
1 21
1 21
1 19
1 18
1 15
1.51
1.47
1.47
1.53
1.58
1.63
1.65
1.65
1.63
1.57
1.57
1.53
.85
.86
.89
.91
.88
.89
89
88
.90
90
.89
.86
.69
1.00
.71
1.00
.75
1.02
.81
1.02
.75
1.02
.75
1.03
.76
1 04
.74
1 04
.79
1.01
.80
1 01
.79
1.00
.74
.98
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Primary metals. .
Fabricated metal products ._
Machinery, except electrical
Electrical machinery
Motor vehicles and parts .
Other transportation equipment
Other durable goods L _. _
Nondurable goods
Merchant wholesalers
Durable goods
21
Nondurable goods
24
25
26
27
28
29
30
....
Food and kindred products
N onf ood -.
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastic products
Other nondurable goods 2
20
22
23
__
Durable goods
Groceries and farm products
Other nondurable goods
Retail trade.
Durable goods Automotive dealers
Other durable goods
Nondurable goods
Food stores
Other nondurable goods
1 88
1 57
1 84
I
II
1 53
1 54
1 55
1 56
1 81
1 82
1 84
1 86
1.85
2 11
2 14
2 13
2.67
2 51
2.57
2.39
98
2.48
1.70
2.70
2 55
2.64
2.49
91
2.60
1.75
2.59
2 55
2.73
2.46
.91
2.61
1.78
1 51
1.53
1.55
1.54
.28
64
.41
.44
.45
.56
1.86
1.29
1.67
.45
.46
.50
.61
.87
1.32
1.68
1.43
1.47
1.56
1.60
1.88
1.31
1.67
1.39
1.49
1.53
1.60
1.88
1.15
1.16
1.14
1.14
1.52
1.52
1.53
1.51
.87
.88
.84
.84
.75
1.00
.77
.99
.70
.99
.69
1.00
IV
III
IV
1 55
1 28
1.31
1.30
1.33
1.37
1.36
1.38
1.39
1.36
1.36
1.36
1.32
1.32
1.32
1.33
1.31
1.85
1.80
1.93
1.96
1.97
2.02
2.06
2.05
2.05
1.98
1.87
1.84
1.81
1.86
1.80
1.21
2.45
1.32
2.49
1.23
2.51
1.32
2.59
1.40
2.68
1.45
2.62
1.50
2.67
1 54
2.70
1.46
2.73
1.46
2.75
1.43
2.65
1.30
2.59
1.28
2.56
1.25
2.55
1.32
2.54
1.27
2.51
1.05
1.06
1.06
1.07
1.10
1.08
1.10
1 10
1.08
1.08
1.10
1.09
1.10
1.10
1.10
1.10
.69
1.24
.70
1.26
.70
1.26
.70
1.28
.71
1.31
.71
1.29
.70
1.32
.72
1.31
.66
1.32
.67
1.32
.68
1.34
.67
1.32
.67
1.34
.68
1.34
.68
1.33
.67
1.33
III
IV
1971
1970
IS 69
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
1.60
1.61
1.62
1.61
1.63
1 64
1 66
1 67
1.71
1.73
1.73
1.77
1.73
1.71
1.71
1.68
1.94
1.84
1.86
1.89
1.86
1.87
1.90
1.90
1.92
2.01
2.05
2.05
2.13
2.04
2.01
1.99
2.14
2.16
2.21
2.16
2.16
2.24
2.23
2.27
2.44
2.47
2.47
2.63
2.46
2.42
2.41
2.35
2.35
2.25
2.69
2.37
1.04
3.01
1.66
2.20
2.36
2.74
2.44
.98
3.41
1.66
2.35
2.38
2.76
2.44
1.04
3.45
1.68
2.32
2.40
2.66
2.43
.88
3.55
1.70
2.19
2.37
2.73
2.36
.94
3.54
1.70
2.29
2.36
2.74
2.40
1.02
3.79
1.74
2.22
2.36
2.79
2.44
.92
3.84
1.80
2.17
2.32
2.86
2.58
.99
3.87
1.81
2.43
2.45
2.94
2.71
1.16
4.20
1.85
2.72
2.54
3.04
2.61
1.04
4.11
1.92
2.56
2.57
3.08
2.58
1.07
4.27
1.94
2.77
2.71
3.23
2.56
1.42
4.30
1.99
2.62
2.72
3.21
2.60
.93
4.14
2.01
2.43
2.74
3.27
2.60
1.02
3.80
1.95
2.91
2.51
3.21
2.54
.84
4.28
1.92
2.88
2.44
3.07
2.46
.86
4.01
1.87
1.46
1.46
1.47
1.47
1.48
1.47
1.48
1.47
1.50
1.54
1.54
1.56
1.55
1.52
1.51
1.47
1.20
1.61
1.44
1.58
1.25
1.54
1.80
1.24
1.57
1.38
1.47
1.28
1.53
1.76
1.25
1.57
1.37
1.42
1.32
1.48
1.79
.26
.58
.34
.41
.33
.50
.84
.23
.59
.33
.40
.27
.45
.89
1.25
1.60
1.32
1.49
1.28
1.47
1.86
1.24
1.59
1.30
1.50
1.24
1.49
1.83
1.25
1.60
1.33
1.50
1.22
1.58
1.84
1.20
1.60
1.38
1.50
1.24
1.51
1.86
1.24
1.63
1.41
1.51
1.28
1.60
1.88
1.24
1.69
1.46
1.60
1.32
1.69
1.92
1.25
1.68
.47
.62
.30
.73
.89
1.26
1.72
1.48
1.66
1.30
1.88
1.92
1.25
1.70
1.48
1.65
1.28
1.77
1.90
1.23
1.66
1.46
1.63
1.28
1.65
1.86
.24
.64
.43
.58
.29
.54
.86
1 23
1 25
1 23
1 23
1 25
1.23
1.24
1.24
1.27
1.30
1.31
1.33
1.31
1.29
1.29
1.32
1.57
1.61
1.60
1.59
1.59
1.59
1.61
1.63
1.66
1.71
1.71
1.73
1.72
1.68
1.69
1.71
.95
.95
.93
.92
.95
.92
.92
.91
.93
.96
.97
1.01
.98
.97
.96
.99
.84
1.05
.84
1.07
.80
1.06
.78
1.06
.81
1.10
.75
1.08
.72
1.12
.72
1.09
.73
1.14
.77
1.14
.81
1.14
.85
1.16
.79
1.16
.79
1.14
.75
1.18
.75
1.22
1.41
1.41
1.39
1.42
1.43
1.45
1.48
1.50
1.48
1.48
1.47
1.48
1.49
1.50
1.52
1.50
2.14
2.04
1.96
1.98
1.93
1.99
2.00
2.01
2.11
2.16
2.15
2.12
2.12
2.21
2.11
2.12
1.44
2.68
1.50
2.66
1.48
2.56
1.55
2.63
1.55
2.66
1.57
2.63
1.67
2.75
1.73
2.77
1.73
2.74
1.73
2.65
1.78
2.58
1.83
2.63
1.70
2.69
1.73
2.67
1.78
2.67
1.66
2.60
1.15
1.14
1.14
1.15
1.16
1.18
1.19
1.20
1.18
1.19
1.18
1.18
1.21
1.21
1.22
1.23
.72
1.36
.71
1.35
.71
1.34
.73
1.35
.73
1.37
.74
1.40
.74
1.41
.74
1.42
.72
1.41
.72
1.42
.71
1.42
.71
1.42
.73
1.46
.75
1.44
.76
1.45
.77
1.45
1. Includes stone, clay and glass products; instruments and related products; and other
durable goods.
1 88
III
1.78
1£ 68
Manufacturing
19(52
I
Line
1 Manufacturing and trade
19(51
19!50
2. Includes tobacco manufacturers; textile mill products; apparel products; printing aiK*
publishing; and leather and leather products.
SUEVEY OF CUEEENT BUSINESS
May 1976
19
Manufacturing and Trade, Seasonally Adjusted 1959-76-1
1972 dollars]
1965
19(34
19(53
19 36
19 37
Line
I
II
1.55
1.54
III
1.54
IV
1.53
I
II
1.53
1.51
1.82
1.81
1.79
1.77
2.14
2.08
2.06
2.03
2.02
2.57
2.57
2.73
2.38
.94
2.67
1.78
2.32
2.44
2.66
2.35
.98
2.65
1.75
2,42
2.39
2.58
2.33
1.01
2.40
1.74
2.39
2.34
2.53
2.35
.92
2.48
1.71
2.37
2.35
2.47
2.30
.97
2.52
1.69
1.52
1.51
1.50
1.50
1.49
.27
.66
.39
.44
.48
.57
.89
1.24
1.66
1.39
1.42.
1.49
1.60
1.91
1.28
1.63
1.37
1.40
1.49
1.57
1.86
1.28
1.62
1.38
1.41
1.44
1.51
1.86
1.28
1.60
1.38
1.40
1.44
1.51
1.82
1.85
IV
III
1.51
1.52
I
II
III
IV
I
II
III
1.50
1.51
1.51
1.49
1.48
1.52
1.75
1.77
1.72
1.72
1.72
2.01
2.00
2.03
1.94
1.96
2.32
2.39
2.44
2.28
.96
2.47
1.72
2.14
2.34
2.43
2.26
1.02
2.53
1.72
2.03
2.48
2.52
2.28
1.15
2.53
1.71
1.99
2.44
2.51
2.25
.91
2.48
1.69
1.97
2.48
2.51
2.21
.99
2.46
1.70
1.45
1.45
1.46
1.45
1.25
1.56
1.33
1.38
1.36
1.46
1.78
1.26
1.56
1.31
1.37
1.35
1.51
1.79
1.27
1.56
1.30
1.34
1.37
1.51
1.81
1.29
1.54
.28
.35
.39
.48
.74
1.75
IV
I
II
1.55
1.58
1.62
1.62
1.63
1.62
1
1.87
1.89
1.89
1.87
2
III
IV
1.72
1.70
1.72
1.78
1.80
1.96
1.93
1.91
1.94
2.02
2.05
2.18
2.20
2.20
2.19
3
1.98
2.51
2.55
2.19
1.00
2.46
1.67
2.13
2.42
2.48
2.12
.94
2.43
1.63
2.05
2.40
2.45
2.11
.93
2.29
1.63
2.04
2.35
2.43
2.18
.95
2.37
1.66
2.01
2.34
2.48
2.25
1.10
2.53
1.72
2.10
2.40
2.48
2.37
.94
2.79
1.79
2.29
2.43
2.66
2.45
1.08
2.99
1.78
2.51
2.40
2.70
2.51
.96
2.99
1.78
2.46
2.36
2.71
2.45
1.09
2.97
1.70
2.35
2.30
2.70
2.41
1.15
3.06
1.68
4
5
6
7
8
9
10
1.42
1.43
1.43
1.42
1.44
1.45
1.47
1.48
1.48
1.49
1.45
11
1.22
1.52
1.30
1.33
1.36
1.49
1.73
1.21
1.54
1.30
1.37
1.32
1.50
1.74
1.19
1.56
1.31
1.37
1.35
1.46
1.81
1.20
1.54
1.31
1.35
1.34
1.43
1.78
1.21
1.56
1.30
1.39
1.30
1.49
1.81
1.23
1.56
1.30
1.43
1.33
1.51
1.78
1.22
1.60
1.34
1.47
1.30
1.56
1.82
1.22
1.61
1.39
1.49
1.31
1.59
1.83
1.20
1.63
1.46
1.52
1.33
1.57
1.83
1.22
1.63
1.44
1.50
1.32
1.52
1.85
1.20
1.59
1.39
1.48
1.29
1.52
1.79
12
13
14
15
16
17
18
1.13
1.14
1.14
1.16
1.14
1.14
1.13
1.12
1.15
1.15
1.16
1.13
1.13
1.14
1.17
1.22
1.24
1.23
1.24
1.25
19
1.50
1.51
1.50
1.50
1.47
1.48
1.47
1.47
1.49
1.50
1.50
1.47
1.45
1.48
1.52
1.60
1.63
1.63
1.61
1.60
20
.85
.85
.86
.90
.89
.88
.86
.84
.88
.87
.88
.85
.85
.85
.88
.91
.93
.91
.95
.96
21
.70
1.00
.70
1.00
.73
1.00
.80
1.00
.79
.99
.79
.98
.76
.97
.73
.96
.77
.98
.76
.99
.76
1.00
.72
.98
.69
1.00
.73
.97
.76
1.00
.78
1.04
.82
1.05
.77
1.06
.85
1.05
.84
1.08
22
23
1.32
1.32
1.34
1.34
1.35
1.36
1.36
1.35
1.35
1.37
1.37
1.34
1.35
1.41
1.40
1.44
1.43
1.41
1.41
1.43
24
1.79
1.77
1.82
1.82
1.88
1.88
1.91
1.90
1.84
1.88
1.90
1.83
1.84
2.05
1.99
2.05
2.04
1.95
1.95
2.02
25
1.29
2.47
1.27
2.45
1.36
2.42
1.37
2.43
1.43
2.47
1.43
2.46
1.50
2.46
1.41
2.54
1.33
2.61
1.43
2.53
1.48
2.52
1.47
2.35
1.42
2.44
1.64
2.61
1.54
2.64
1.62
2.65
1.58
2.65
1.43
2.68
1.42
2.70
1.51
2.68
26
27
1.12
1.12
1.13
1.12
1.12
1.12
1.12
1.11
1.12
1.13
1.11
1.10
1.11
1.12
1.13
1.15
1.15
1.15
1.16
1.16
28
.69
1.35
.72
1.34
.70
1.36
.70
1.36
.72
1.33
.71
1.34
.71
1.34
.71
1.33
.69
1.35
.68
1.36
.66
1.35
.67
1.32
.67
1.33
.69
1.33
.70
1.34
.71
1.37
.71
1.36
.71
1.37
.72
1.37
.73
1.38
29
30
III
IV
18 72
19 73
I
II
1.65
1.63
1.62
1.88
1.85
1.84
2.27
2.22
2.76
2.43
2.93
2.31
.86
3.98
1.78
III
IV
I
II
1.58
1.55
1.58
1 60
1.77
1.75
1.76
1 79
2.21
2.10
2.04
2.06
2.73
2.39
2.77
2.34
.86
4.02
1.71
2.49
2.49
2.71
2.35
.92
4.03
1.70
2.26
2.48
2.65
2.30
.80
3.94
1.64
2.18
2 39
2.64
2.27
.73
3.93
1 64
1.44
1.42
1.41
1.36
1.19
1.56
1.36
1.50
1.19
1.53
1.77
1.18
1.53
1.36
1.48
1.19
1.55
1.72
1.18
1.52
1.35
1.46
1.19
1.48
1.71
1.12
1.48
1.33
1.40
1.15
1.47
1.66
I
II
III
1.61
1 64
1 67
1 78
1 84
1 87
2.10
2.11
2.19
2.20
2 37
2.64
2.26
81
3.54
1 67
2.03
2 44
2 73
2.33
90
3.50
1 75
1.87
2 42
2 73
2.41
95
3 63
1 76
1.37
1.38
1.38
1.16
1.47
1.3C
1.35
1.16
1.44
1.68
1.18
1.47
1.26
1.35
1.19
1.48
1.68
1.16
1.47
1.24
1.35
1.13
1.48
1.72
III
IV
I
1.69
1 82
1 87
1 82
1 93
2 08
2 27
2 20
2.22
2.27
2 47
2 81
2.75
1 93
2 45
2 78
2 39
1 05
3 77
1 85
1 98
2 42
2 81
2 37
1 00
4 31
1 90
1.99
2 48
2 86
2.52
91
4 85
2 06
2 22
2 83
2 92
2 76
1 11
5 17
2 11
3 01
3 23
3 28
2 95
1 21
5 25
2 25
1.35
1 38
1 42
1 48
1 57
1.14
1.45
1 24
1.31
1 12
1.49
1 68
1.16
1.48
1 23
1.32
1 33
1.50
1 69
1.20
1 53
1 27
1 40
1 47
1.55
1 71
1.21
1 61
1 36
1 49
1 52
1 54
1 80
1.21
1 75
1 51
1 75
1 61
1.63
1 89
IV
19 76
1£ 75
19 74
Line
IV
I
1 76
1.74
1.69
2 09
2 04
1 97
2
2 61
2.56
2.42
3
3 66
3 09
3 32
2 76
1 06
5 24
2 08
3 16
2 90
3 36
2 67
92
5 44
1 99
3 16
2 82
3 10
2 71
94
5 33
1 92
3.09
2 60
3 09
2.54
83
5 12
1 89
4
5
6
8
9
10
1 63
1 55
1 49
1 47
1.45
11
1.21
1 85
1 69
1.87
1 77
1.69
1 93
1.15
1 75
1 59
1 81
1 70
1 61
1 80
1 19
1 63
1 48
1 66
1 64
1 48
1 70
1.19
1 60
1 40
1.61
1 69
1.47
1 66
1.17
1.60
1 41
1.61
1 69
1.46
1 65
12
13
14
15
16
17
18
II
III
II
1
7
1.29
1.30
1.30
1.28
1.26
1.27
1.28
1.27
1.26
1.30
1.33
1.45
1.43
1.43
1.41
1.43
1.38
19
1.68
1.70
1.66
1.64
1 58
1 59
1.57
1 57
1 56
1 63
1 71
1 89
2 01
2 05
1 96
1 96
1 90
20
.96
.96
.98
.95
96
.97
99
98
99
99
99
1 05
95
94
95
93
95
21
.75
1.17
.73
1.18
.82
1.14
.78
1.12
.79
1.12
.78
1 13
82
1.14
82
1 11
87
1 09
85
1 12
84
1 12
84
1 22
69
1 22
72
1 16
75
1 16
68
1 18
72
1 17
22
23
1.49
1 56
1 58
1 58
1 56
1 66
1 56
1 49
1 49
1 45
1 44
24
1.99
2 13
2 06
2 04
1 97
1.86
25
1.51
1.49
1.47
1.46
1.43
1.47
2.04
1.99
1.94
1.94
1.82
1.94
1.65
2.60
1.56
2.62
1.51
2.58
1.51
2.57
1.42
2.45
1.56
2.51
1 63
2.52
1 87
2 50
1 86
2 51
1 79
2 51
1 75
2 51
2 37
2 62
1 87
2 53
1 74
2 47
1 77
2 41
1 69
2 34
1 55
2 32
26
27
1.25
1.24
1.23
1.21
1.21
1 22
1 22
1 27
1 29
1 31
1 29
1 28
1 27
1 23
1 21
1 19
1 22
28
.78
1.46
.76
1.47
.76
1.45
.74
1.42
72
1.43
73
1 44
72
1 43
76
1 48
79
1 50
82
1 51
76
1 53
78
1 49
79
1 48
78
1 42
79
1 40
78
1 37
78
1 41
29
30
2 14
2 10
2 07
2 49
2 16
SURVEY OF CURRENT BUSINESS
20
CHART 5
Manufacturing and Trade: Book Value Inventory-Sales Ratio^and Constant-Dollar
Inventory-Sales Ratio
Ratio (Ratio scale)
2.0
1.5
1.0
1959
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
1. Ratio of book value inventories to current-dollar sales. Both the sales and the inventories contain adjustments that are not included in the data shown on
page S-5.
U.S. Department of Commerce, Bureau of Economic Analysis
76.;
have been ininventory the longest. FIFO
inventories therefore reflect recent acquisition costs.
The price indexes used to convert
FIFO inventories into 1972 dollars
are constructed by averaging prices
for the current and immediately preceding months. The length of the period
All non-LIFO inventories are treated
as though they were valued by the
FIFO method, which is the most prevalent non-LIFO method. The FIFO
method assumes that the goods that
are acquired first are used up first,
that is, that withdrawals are valued at
the acquisition cost of the goods that
May 1976
for which prices are averaged depends
on the inventory turnover rate. Special
procedures are used in situations in
which inventories are valued monthly
at market prices, and in which at yearend inventories are valued at the lower
of cost or market.
The LIFO method assumes that
goods acquired most recently are used
up first, that is, that withdrawals are
valued at the acquisition cost of the
goods that have been in inventory the
shortest time. LIFO inventories therefore generally reflect earlier acquisition
costs than do FIFO inventories.
LIFO inventories are not converted
into 1972 dollars directly; instead the
changes in them are converted and then
cumulated to obtain total inventories.
Increases in LIFO inventories reflect
increases in physical volume valued at
current prices. Decreases in LIFO inventories reflect decreases in physica
Table 4.—Fixed-Weighted Constant-Dollar Inventory-Sales Ratios
[Ratio, based on
I
II
III
IV
1 Manufacturing and trade .
1 54
1 53
1.57
2
1 82
1 78
1 86
2.12
2.06
2.21
Manufacturing
3
Durable goods . .
4
Nondurable goods
5
Merchant wholesalers
6
Durable goods
7
Nondurable goods
8
9
10
_
Retail trade. .
Durable goods.
Nondurable goods
1.46
1.44
1.45
1962
19 61
19 60
1959
Line
I
II
III
IV
I
II
III
1.59
1 59
1 62
1 64
1 64
1.67
1 63
1.60
1 56
1.57
1.57
1.59
1.58
1 86
1 83
1 89
1 91
1 91
1 96
1 89
1 85
1 81
1 82
1 84
1 87
1.87
2 19
2 15
2 22
2.24
2.25
2.32
2.20
2.15
2.10
2.11
2.13
2.17
2.17
1.51
1.50
1.54
1.53
1.50
1.47
1.48
1.50
1.52
1.51
1.19
1.18
1.47
1.46
1.49
IV
I
II
III
IV
1 17
1.16
1 17
1 22
1 22
1 26
1 27
1 26
1 26
1 24
1 23
1 19
1.19
1.20
1.53
1.50
1.49
1.56
1.60
1.65
1.67
1.69
1.66
1.60
1.60
1.56
1.54
1.55
1.56
1.54
1.89
1.89
1.86
1.87
1.37
1.86
1.87
1.90
1.93
1.90
1.91
1.91
1.89
1.91
1.92
1.91
1.87
1 32
1 35
1.34
1 38
1 42
1 41
1 45
1 46
1 44
1.44
1.43
1.38
1.39
1.37
1.38
1.86
1.89
1.85
1.13
1.13
1.13
III
IV
1.70
1.81
1.07
1.89
1.07
1.86
1.08
1.94
1.09
2 02
1 12
2.03
1.11
19 68
2.09
1 12
2.13
1.12
2.08
1.12
2.07
2.01
1.91
1.90
1.12
1.14
1.12
1.14
1971
19 70
19 69
Line
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
1 Manufacturing and trade .
1 59
1 60
1 60
1 60
1 61
1 62
1 64
1 65
1 70
1 73
1 73
1.78
1.74
1.72
1.73
2
1 81
1 83
1 86
1 84
1 84
1 87
1 88
1 89
1 98
2 02
2 02
2 10
2.04
2.00
2.01
1.96
Durable goods
2 12
2 15
2 19
2 16
2 14
2 21
2 21
2 25
2 39
2.43
2.43
2.57
2.46
2.41
2.45
2.37
Nondurable goods _ _
1 45
1.46
1 47
1.47
1 48
1 47
1 48
1 47
1.50
1.54
1.54
1.56
1.55
1.52
1.51
1.4T
1 32
1 33
1.36
1.33
1.31
1.31
1.33
1.74
1.73
1.69
1.70
1.72
1.02
.99
.97
1.00
3
4
5
Manufacturing
Merchant wholesalers
6
Durable goods _
7
Nondurable goods
8
9
10
Retail trade
1 25
1 27
1 25
1 24
1 26
1 24
1 25
1 25
1 28
1.58
1 61
1.60
1.59
1 59
1 59
1 61
1.64
1.67
1.72
1.72
95
97
94
93
97
93
93
92
95
97
.99
1 43
1 42
1 41
1 43
1 44
1 46
1 50
1 52
1 51
1.50
1.50
1.52
1.52
.98
1.52
1.53
1.51
2.06
1.23
Durable goods
1.99
1.98
1.94
1.99
1.99
2.00
2.11
2.16
2.13
2.10
2.10
2.15
2.11
2.12
2.15
Nondurable goods
1 15
1 14
1 14
1 16
1 17
1 18
1 19
1 20
1.20
1.20
1.20
1.20
1.23
1.22
1.23
NOTE.—The weighted I-S ratios shown in this table were obtained by weighting detailed
industry I-S ratios with 1972 sales. Additional industrial detail was used than is shown else-
where in. the article. For manufacturing, I-S ratios for 21 indastrias ware weighted by sales;
for merchant wholesalers, 7 categories of business, and for retail trade, 8.
UE^VEY OF CURRENT BUSINESS
May 1976
volume valued at prices of prior periods.
Decreases are converted to current
prices by applying a ratio of current
prices to the prices of the period in
which the withdrawn goods entered
the stock. The current-price changes are
converted to 1972-dollar changes by
applying a ratio of current prices to the
prices of 1972.
The price indexes are based mainly on
detailed components of the Wholesale
Price Index. These are combined with
weights representing the commodity
composition of inventories. For manufacturing, the commodity composition
is based on information on the composition of shipments from the 1963 Census
of Manufactures and on the composition of materials consumed from the
same source and from BEA's inputoutput studies. For wholesale and retail
trade, the commodity composition is
based on information en the composi-
21
CHART 6
Constant-Dollar Ratios of Inventories to Final Sales of Business and
Inventories to Sales of Manufacturing and Trade
Ratic>
.35
.30
(Ratio scale)
BUSINESS
.25
.20
i i t 1 i i i 1 i i > 1 t t i 1 i t i 1 i i i 1 i i i I i i i 1 i i i 1 i i i 1 i i i 1 i t t 1 i t i 1 i i i i i i > 1 ii
2.0
MANUFACTURING AND TRADE
^
1.5 ^
1,7
!
1 1 1
1959
*
1 1
1 1 1 1 1
60
61
I 1 1 I 1
i ii11 i 11i
1 1 1 1 1
62
63
1 1 1 ,
64
,
65
1 I I
I I
66
*—s^
—
1 I 1 .
1 1
67
.
I 1 ,
68
, I 1
^
, 1 . 1 ,
69
70
—^^
! 1 1 1 ,
71
.
1 1 ,
72
< 1 1 I
73
i i* ii i1 1i
74
75
U.S. Department of Commerce, Bureau of Economic Analysis
76
76-5-6
ness. The monthly series for manufacturing and merchant wholesalers are
published by the Census Bureau; the
retail trade series is published by BEA
on the basis of the Census Bureau's
compilations.
tion of commodity line sales from the
1963 Census of BusiDess.
Book value inventories are compiled
by the Census Bureau from monthly
and annual sample surveys and from
the censuses of manufactures and busi-
for Manufacturing and Trade, Seasonally Adjusted, 1959-76-1
1972 dollars]
li)63
1967
1966
19()5
1964
Line
I
III
II
IV
I
III
II
IV
I
IV
III
II
I
III
II
IV
I
III
II
IV
1.58
1.56
1.56
1.53
1.54
1.53
1.53
1.53
1.52
1.52
1.52
1.49
1.48
1.52
1.54
1.57
1.61
1.61
1.61
1.60
1
1.86
1.82
1.79
1.77
1.75
1.74
1.74
1.76
1.72
1.72
1.72
1.71
1.69
1.70
1.75
1.78
1.85
1.86
1.86
1.83
2
2.17
2.10
2.08
2.05
2.03
2.02
2.00
2.04
1.97
1.98
1.99
1.96
1.93
1.94
2.01
2.05
2.16
2.19
2.17
2.16
3
1.48
1.48
1.45
4
1.27
5
1.61
6
7
1.49
1.48
1.48
1.47
1.47
1.43
1.43
1.43
1.42
1.40
1.42
1.41
1.40
1.43
1.44
1.46
1.48
1.18
1.18
1.19
1.20
1.18
1.18
1.17
1.16
1.18
1.18
1.19
1.15
1.14
1.16
1.19
1.24
1.26
1.25
1.27
1.53
1.55
1.54
1.53
1.50
1.51
1.50
1.50
1.52
1.53
1.53
1.50
1.47
1.51
1.54
1.61
1.65
1.64
1.63
.87
.86
.88
.91
.90
.90
.88
.86
.89
.89
.89
.85
.85
.86
.89
.91
.93
.92
.95
.97
1.38
1.37
1.39
1.39
1.39
1.39
1.40
1.39
1.39
1.41
1.40
1.36
1.36
1.43
1.42
1.45
1.45
1.42
1.42
1.44
8
1.83
1.80
1.85
1.86
1.90
1.90
1.92
1.91
1.90
1.94
1.96
1.87
1.86
2.06
2.01
2.06
2.05
1.97
1.96
2.01
9
1.15
1.15
1.16
1.16
1.14
1.14
1.13
1.12
1.14
1.14
1.12
1.11
1.11
1.12
1.13
1.15
1.15
1.15
1.15
1.16
10
III
IV
1972
I
II -
1.67
1.64
1 62
1.90
1 86
1 85
2.29
2.25
2.22
1.44
1.42
1.30
1.31
1.69
III
IV
m
\-
Line
I
II
1 58
1 55
1 59
1 62
i fii
1 fi9
1 83
1 89
1 76
1 56
i 7/5
1 58
1 78
1 77
1 76
1 81
1 86
1 94
2 19
2 27
2 13
2 09
2 08
2 11
2 12
2 is
2 24
2 34
2 52
2 81
1.41
1.36
1.36
1 37
1 37
1 35
1 37
1 42
1 48
1 58
1 64
1 29
1 27
1 24
1 25
1 24
1 24
1 27
1 31
1 41
1.70
1.66
1.64
.97
.97
.98
.95
94
95
97
96
97
97
96
1 03
1.52
1.49
1.47
1 45
1 41
1 45
1 46
1 54
1 54
1 54
1 53
1 66
1 58
1 24
1 59
I
IV
1 56
1 57
II
1 55
1 62
1976
1975
197 4
19 73
III
1 70
IV
1 89
I
~ I
II
III
IV
1 85
1 79
2 21
2 13
1 75
2 09
2 03
2
2 81
2 68
2 62
2 52
3
1 55
1 49
1 46
1.46
4
1 44
1 44
1 40
1 39
1 38
5
2 00
1 94
1 94
1.87
6
96
2 03
93
93
92
96
7
1 54
1 47
1 46
1 43
1 41
8
II
1 72
1
2.05
1.99
1.94
1 94
1 84
1 94
1 99
2 12
2 12
2 06
2 04
2 45
2 11
2 00
2 00
1 92
1 82
9
1.25
1.24
1.23
1.20
1.20
1 21
1 20
1 24
1 25
1 27
1 27
1 26
1 26
1 21
1 19
1 19
1.21
10
SURVEY OF CURRENT BUSINESS
22
For the estimates presented in this
article, monthly book value inventories
of manufacturers have been adjusted
by BEA to the levels established in the
1972 Census of Manufactures and the
1973 Annual Survey of Manufactures.
These adjustments were tapered back
May 1976
to 1969 and carried forward to the cur- mates based on the annual surveys that
rent period. Similar adjustments will become available later. Consequently,
be made at a later date in the monthly allowances for such a downward bias
series published by the Census Bureau. have been added by BEA to book value
For 1973 and prior years, the monthly inventories for the years since 1973.
book value inventories of manufacturers
Given the present publication schedgenerally have been lower than the esti- ule of GNP, the revision by the Census
CHART 7
Durable Manufacturing: Constant-Dollar Inventory-Sales Ratios
Ratio (Ratio scale)
4.0
PRIMARY METALS
3.0
2.0
1.5
4.0
FABRICATED METAL PRODUCTS
3.0
70
4.0
i i i i i i i i i i i i i i i I i i i i i i i i i i i i i >i I i i i
MACHINERY, EXCEPT ELECTRICAL
3.0
2.0 I
4.0
i
i
i
i
I
i
i
I i
ELECTRICAL MACHINERY
3.0
2.0
i
1.5
l
i
t
MOTOR VEHICLES AND PARTS
1.0
.7
7.0
OTHER TRANSPORTATION EQUIPMENT
5.0
4.0
3.0
i
3.0
i
I
i
i
i
I i
i
i I
OTHER DURABLE GOODS
2.0
I
_L
1.0
1968
69
70
U.S. Department of Commerce, Bureau of Economic Analysis
71
72
73
74
75
76
SURVEY OF CURRENT BUSINESS
May 1976
23
Bureau of the preliminary estimates of separation of book value inventories especially those underlying their
book value inventories of manufacturers into LIFO and non-LIFO components monthly estimates.
Book value inventory data collected
and merchant wholesalers for the third is based on BE A studies of inventory
month of each quarter is not immedi- accounting methods for 1947 and 1951 in the sample surveys are subject to
ately incorporated into BEA's esti- that used information from Moody's sampling and response errors. It is genmates. The Census Bureau's revisions Manual of Industrial Securities and erally known that many retail firms
for December 1975 have not been in- Internal Revenue Service tabulations, do not keep inventory records on a
corporated into the estimates presented on BE A surveys for yearends 1959, monthly basis so that their responses
in this article. Incorporation of these 1969, and 1973, and on BEA and in the sample survey are rough aprevisions would lower constant-dollar Census Bureau surveys for 1974. Re- proximations.
In addition to sampling and response
total manufacturing and trade inven- search undertaken by the Census Butories for the fourth quarter of 1975 by reau indicates that such surveys may errors, price information has some
be subject to substantial error because specific shortcomings from the stand0.2 percent.
The estimates of inventories are some firms do not accurately report the point of converting inventories into
subject to considerable error. The inventory valuation methods they use, constant dollars. First, its coverage is
CHART 8
Nondurable Manufacturing: Constant-Dollar Inventory-Sales Ratio
Ratio (Ratio scale)
2.0
FOOD AND KINDRED PRODUCTS
1.5
1.0
"i
2.0
i
.
1
i
i
1
i
i
i
1
i
i
i
1
t
i
i
i
i
I
i
i
i
I
1 I
i
I
i
I
I
(
I
i
i
i
i
1
i
i
i
1
i
i
72
I
i
1
i
i
i
1
i
i i
73
1
i
i
i
1
i
i i
74
1
i
i
i
1
i
t i
75
1
i
t
i
PAPER AND ALLIED PRODUCTS
1.5
1.0
2.5
CHEMICAL AND ALLIED PRODUCTS
2.0
1.5
1.0
2.0
1.0 I
i
i
i
I
i
i
2<5
RUBBER AND PLASTIC
i
I
i
PRODUCTS
2.0
1.5
1.01
3.0
t
t
I
I
I
i
i
}
OTHER NONDURABLE GOODS'
2.5
2.0
15
i
i
1968
i
1
i i
69
i
1
i
70
U.S. Department of Commerce, Bureau of Economic Analysis
71
i
i i
76
SUEVEY OF CUREENT BUSINESS
24
CHART 9
incomplete. Second, in many instances,
the information reflects list rather than
transaction prices, and sales prices
that include profits in cases in which
measures of costs would be appropriate. Third, the price averages that
are used to synchronize the price series
with the prices underlying inventories
may not be representative of the actual
turnover of goods. Finally, the weights
that are used to combine the detailed
price series may not be representative
of the commodity composition of
inventories.
Sales.—The manufacturing shipments, sales of merchant wholesalers,
and retail sales series are those published monthly by the Census Bureau,
except that BEA uses its own seasonal
factors to adjust the retail sales series.
The series are converted into constant
dollars by using components of the
Wholesale Price Index, Consumer
Price Index, and supplementary price
information.
Merchant Wholesalers: Constant-Dollar Inventory-Sales Ratios
Ratio (Ratio scale)
3.0
DURABLE GOODS
2.0
1.5
1.0
1.0
GROCERIES AND FARM PRODUCTS
.8
.6
1.5
OTHER NONDURABLE GOODS
1.0
a
~ i
.
. 1
i
1968
.
69
i 1
•
. .
70
1
»
t
i
1
71
i
.
i
1
72
. .
i
1
i ,
73
i
1
.
74
.
i
1
.
75
. ""
i
76
U.S. Department of Commerce, Bureau of Economic Analysis
May 1976
CHART 10
Retail Trade: Constant-Dollar Inventory-Sales Ratios
Ratio (Ratio scale)
3.0
AUTOMOTIVE DEALERS
2.0
1.5
I i
1.0
4.0
OTHER DURABLE GOODS
3.0
2.0
1.0
FOOD STORES
.8
.6
2.0
OTHER NONDURABLE GOODS
1.5
1.0 I
i
t
1968
i
I
i
i i
69
I
i
i i
70
I
U.S. Department of Commerce, Bureau of Economic Analysis
i
i
71
i
I
i
i
72
i
i
i
i
73
i
I
i
i
74
i
1 t
i
75
76
BY WILLIAM K. CHUNG
Sales by Majority-Owned
Foreign Affiliates of
U.S. Companies, 1974
OALES by majority-owned foreign
affiliates of U.S. companies rose 50
percent, to $437.7 billion, in 1974,
following a 37 percent increase in 1973
(chart 11 and table I).1 Sales gains by
petroleum affiliates accounted for nearly
two-thirds of the $146.3 billion increase; their sales rose 104 percent and
exceeded manufacturing affiliates' sales
for the first time.
A small decline in world petroleum
demand was much more than offset by
sharp increases in petroleum prices. In
1974, the average posted price per
barrel of benchmark light Arabian
crude oil was about 250 percent higher
CHART 11
Sales by Majority-Owned Foreign Affiliates of U.S. Companies, 1966-74
Billion $
500
Billion $
500
(Ratio scale)
BY INDUSTRY
BY AREA
300
300
Total
Total
200
200
100
100
70
70
50
50
30
30
20
20
10
10
7
7
5
5
International and
Unallocated
3
i
2
1966
67
i
68
i
69
i
70
71
U.S. Department of Commerce, Bureau of Economic Analysis
I
_L j
72 73
74
i
1966
i
67
i
\
68
69
70
i
71
i
72
73
74
than in 1973; in Venezuela, the average
price per barrel of light crude oil
more than tripled.2
Sales gains by other industries, while
less spectacular, were substantial and
widespread. Contributing to the gains
was accelerated worldwide inflation,
intensified by oil price increases. For
example, the average GNP deflator of
member countries of the Organization
of Economic Co-operation and Development (OECD) rose more than 12 percent, compared with about 8 percent in
1973.
By destination, local sales were 63
percent of total sales, compared with
70 percent in 1973 (table 2). (Local
sales are sales made by an affiliate to
customers in the country where the
affiliate is located.) The share of exports
to "other foreign countries"—countries
other than the United States and the
affiliate's own country—rose from 23
percent to 30 percent, primarily because petroleum affiliates' exports to
"other foreign countries" grew much
faster than their local sales. The share
of exports to the United States, at 7
percent, was about the same as in 1973.
NOTE.—Estimates were prepared under the
supervision of David H. Galler.
1. These are universe estimates based on sample data
collected in BEA's annual sample survey. The survey
covered about 300 U.S. reporters and their 6,000 majorityowned foreign affiliates. For a description of the methodology
used in preparing these estimates, see the December 1973 and
August 1975 issues of the SURVEY OF CURRENT BUSINESS.
2. The posted price per barrel of light Arabian crude oil was
raised in several steps from $2.59 to $5.04 in 1973; it was increased to $11.65 effective from January through October 1974
and was lowered to $11.25 for the remainder of the year. The
tax reference price per barrel of light Venezuelan crude oil was
increased from $3.10 to $7.46 in 1973; it was raised again to
$13.78 in January 1974 and to $14.31 in July, effective through
yearend.
25
207-050 O - 76 - 4
26
Petroleum 3
Sales by petroleum affiliates more
than doubled, to $184.9 billion. The
rise occurred in all areas, but was particularly large in developing countries
where most affiliates were engaged in
petroleum extraction.
By far the largest dollar increase was
by affiliates in the Middle East, whose
sales nearly tripled, to $62.5 billion
(table 3). In Indonesia, sales also
tripled, to $7.7 billion (table 5A). In
both areas, price increases of crude oil
accounted for most of the rise, although
production also increased.
In Venezuela, where output declined
substantially, sales rose 129 percent,
to $9.2 billion, entirely due to price
increases. Sales in Canada rose 46
percent. The slower growth there than
in other areas was due to smaller increases in Canadian crude oil prices
and a decline in production.
In Europe, where most petroleum
affiliates were engaged in refining and
retailing, sales (mostly to local markets)
rose 54 percent, to $38.8 billion. Sales
growth in Europe was restrained by
sagging demand for higher priced petroleum products, economic slowdown, an
unusually mild winter, and energy
conservation efforts.
In other areas, sales by petroleum
trading affiliates in Bermuda and in the
"international and unallocated" category expanded rapidly, primarily due
to price increases.
By destination, local sales by petroleum affiliates were 48 percent of their
total sales, compared with 59 percent
in 1973.4 The decrease resulted mainly
from the fact that local sales by
affiliates in developing countries grew
less rapidly than their export sales
(tables 5B-D).
3. The petroleum industry is defined on an integrated basis
to include all stages of petroleum operations—exploration
and development, production, refining, marketing, and
distribution.
4. Petroleum affiliates' sales by destination should be interpreted carefully. Producing affiliates, located mainly in
developing areas near crude oil sources, sell primarily to
refining affiliates, located mainly in developed areas near
final markets. Thus, sales by producing affiliates are largely
for export and those by refining affiliates are largely to local
customers.
Sales by producing affiliates to refining affiliates give rise
to some duplication in the sales data. Sales of crude oil are
reported by producing affiliates, and sales of refined products
made from that crude oil are reported by refining affiliates.
SUEVEY OF CURRENT BUSINESS
May 1976
Brazil, and Mexico. Sales by Canadian
affiliates rose 17 percent, to $12.0
billion. This rise also reflected the fact
that compact automobiles, for which
local demand remained strong, accounted for a large share of Canadian
production.
Among other manufacturing industries, gains by chemical affiliates were
particularly large. Their sales rose 42
percent, to $36.2 billion, following a 43
percent rise in 1973. The increase was
strong in both developed and developing
countries. Among the former, the inManufacturing
crease was concentrated in Europe,
particularly
the Netherlands and the
S ales by manufacturing affiliates rose
United
Kingdom.
Sales by Dutch
25 percent, to $175.7 billion, following a
31 percent rise in 1973. The slower affiliates doubled, to $3.6 billion, and
growth in 1974, despite the acceleration sales by United Kingdom affiliates rose
of worldwide inflation, occurred because 57 percent, to $5.0 billion. Accounting
the U.S. dollar depreciated less in 1974 for most of the rise in both countries
than in 1973. This resulted in smaller were higher prices of petrochemicals,
sales gains from the translation of which, in turn, reflected higher prices
affiliates' sales from foreign currencies of crude petroleum. Large sales by new
affiliates also contributed to the rise in
into dollars.
Another factor was the economic the United Kingdom. Sizable sales
slowdown in major developed countries gains by Canadian affiliates were largely
in 1974. Because the slowdown became due to the rise in prices of petrosevere only toward yearend, its overall chemicals. In developing countries,
impact was rather moderate, although sales increases were concentrated in
its effect en the transportation equip- Korea, Brazil, and Mexico.
Sales by affiliates manufacturing
ment industry was substantial.
paper
and allied products increased 33
Compared with a 24 percent rise in
percent,
to $9.3 billion. The increase
1973, sales by affiliates in transportation
was
centered
in Canada and several
equipment rose 8 percent in 1974. Sales
European
countries;
this reflected in
by European affiliates declined 6 perpart
the
replenishing
of stocks that
cent (table 4). They were down 16 perwere
depleted
in
the
previous year
cent in Germany, 9 percent in France, 7
because
of
supply
shortages.
percent in Belgium-Luxembourg, and
Sales by affiliates manufacturing pri3 percent in Italy.
mary
and fabricated metals were up
Several factors contributed to the
31
percent,
to $12.5 billion. The
slump in transportation equipment
increase
was
particularly large for
sales, particularly automobiles, in Eualuminum
manufacturing
affiliates in
rope. Rising unemployment, together
Germany,
Canada,
and
the
United
with continued inflation, led to declinKingdom.
This
resulted
primarily
from
ing disposable income. In addition, in
sharply
higher
bauxite
prices,
which,
in
the early months of the year, when the
Arab oil embargo was in effect, auto- turn, raised aluminum prices.
Sales by nonelectrical machinery
mobile sales were dampened by concern
over the cost and availability of gaso- affiliates rose 24 percent, to $27.4
line. Demand was weakened further by billion. The rise was concentrated in
higher prices of new models in Europe. developed countries, particularly CanIn countries where the petroleum ada, the United Kingdom, and Gersupply situation was more favorable, many. Computer sales by affiliates in
sales by automobile affiliates rose. In these countries were especially strong;
Latin America, for instance, sales were sales of machinery for construction,
up 29 percent, to $3.9 billion, with earth moving, and public works also
increases concentrated in Venezuela, contributed to the rise. Sales by elec-
The share of exports to "other foreign
countries" rose to 43 percent from 34
percent in 1973. The rise was due
largely to faster growth in such exports
by affiliates in Venezuela, Indonesia,
Bermuda, and the "international and
unallocated" category.
Exports to the United States were
9 percent of the total, up from 7 percent in 1973. Sharp increases in shipments from Middle Eastern and Indonesian affiliates accounted for the
rise.
SUEVEY OF CURRENT BUSINESS
May 1976
trical machinery affiliates were up 26
percent, to $17.4 billion; large increases in Belgium-Luxembourg, Germany, France, and Brazil were mainly
accounted for by sales of telephone and
communication equipment.
By destination, local sales by manufacturing affiliates were 77 percent of
their total sales, about the same as in
1973. The share of exports to the
United States declined slightly to 6
percent, primarily due to a decline in
such exports by transportation equipment affiliates in Germany and the
United Kingdom. The share of exports
to "other foreign countries" rose slightly
to 17 percent. This reflected substantial increases in exports by nonelectrical machinery affiliates in the
United Kingdom, Germany, and Canada; by chemical affiliates in the
Netherlands and Belgium-Luxembourg;
and by affiliates producing paper and
allied products in Canada. Partly
offsetting these increases was a drop in
the share of exports to "other foreign
countries" by affiliates in transportation equipment; the drop was primarily
caused by a decline in exports by
German affiliates and little growth in
exports by Canadian affiliates.
27
Exports by mining and smelting
affiliates to "other foreign countries"
were 45 percent of their total sales,
about the same as in 1973. The share of
exports to the United States fell slightly
to 35 percent. The share of local sales
rose to 20 percent from 18 percent; the
rise was accounted for by Canadian
affiliates whose local sales grew faster
than their exports to the United States.
Mining and smelting
Trade and other industries
Sales by mining and smelting affiliates rose 28 percent, to $5.1 billion.
More than three-fourths of the rise was
accounted for by iron ore and potash
mining and refining affiliates in Canada,
and bauxite mining affiliates in Jamaica.
Also sizable were sales increases by
affiliates mining coal in Australia,
copper in Indonesia, and iron ore in
Venezuela.
Sales by trade affiliates increased 19
percent, to $46.1 billion. By far the
largest increase was by affiliates in
Switzerland, engaged primarily in marketing chemicals. Increases were also
sizable in the United Kingdom and
France, because of large sales of food
products by new retail trade affiliates.
By destination, exports to "other for-
Table 1.—Sales by Majority-Owned Foreign Affiliates of U.S. Companies, by Industry and Area of Affiliate, 1966-74
[Billions of dollars or percent change]
Percent change
Billions of dollars
1966
1970
1973"
18
15
37
50
-13
25
-18
11
25
54
28
104
16
18
31
25
21
25
20
12
-11
16
18
21
18
14
23
19
17
13
19
18
19
19
32
33
43
23
25
30
29
24
33
24
33
42
26
31
24
26
8
22
19
10
29
38
19
53
1968
1969
1970
1971
1972 r
1973 r
1974
97.8
108.5
120.8
134.3
155.9
184.4
211.9
291.4
437.7
11
11
11
16
Mining and smelting
Petroleum
3.3
27.5
3.5
31.1
3.9
34.0
4.2
36.4
4.5
42.4
3.9
53.1
3.2
58.8
4.0
90.8
5.1
184.9
6
13
11
9
8
7
6
16
M anuf acturing
47.4
52.6
59.6
67.6
78.3
90.9
107.6
140.9
175.7
11
13
13
16
5.6
1.9
7.4
1.8
3.9
6.5
4.4
11.2
4.6
6.1
2.0
8.5
1.8
4.6
7.6
4.6
12.1
5.4
6.2
2.6
9.8
1.9
5.3
8.6
5.1
14.2
5.9
6.8
3.0
11.0
2.2
6.0
10.2
5.9
16.1
6.4
7.5
3.4
12.6
2.4
7.6
12.3
7.7
16.8
8.0
9.1
4.2
15.0
2.7
6.7
14.3
9.1
20.4
9.4
10.4
5.2
17.8
3.2
7.6
17.0
10.8
24.4
11.2
13.7
7.0
25.5
3.9
9.5
22.2
13.9
30.3
14.9
17.0
9.3
36.2
5.0
12.5
27.4
17.4
32.7
18.2
7
6
15
-1
19
16
4
8
16
3
31
16
7
13
14
12
18
9
10
14
11
15
15
19
15
13
8
10
13
15
11
26
21
31
5
25
14.1
5.6
14.5
6.9
16.2
7.0
18.3
7.7
21.6
9.0
25.4
11.1
30.1
12.2
38.9
16.9
46.1
25.9
3
23
12
2
13
10
18
17
17
23
Total
1967
1968
1969
1974
1972'
1967
1971
By industry
Food products
Paper and allied products
Chemicals and allied products
Rubber products
Primary and fabricated metals
Machinery, except electrical
Electrical machinery
Transportation equipment ...
Other manufacturing
Trade
Other industries. .
By area
D eveloped countries
Canada
Europe
United Kingdom
European Economic Community
(6) i
Other Europe...
Japan.
Australia, New Zealand, and South
Africa
Developing countries
Latin America
Other Africa 2
Middle East 2
Other Asia and Pacific
International and unallocated
Addendum:
European Economic Community (9) 3
71.6
79.2
88.0
98.5
116.2
136.3
158.2
207.8
272.2
11
11
12
18
17
16
31
31
23.9
40.5
13.4
26.8
44.2
14.7
29.8
49.1
15.1
32.3
55.8
16.2
35.1
68.4
18.5
40.3
81.2
21.6
45.0
95.9
24.5
56.5
127.3
30.2
71.4
165. 8
40.3
12
9
10
11
11
3
8
14
7
9
23
14
15
19
17
12
18
13
25
33
23
26
30
33
20.2
6.9
2.1
21.9
7.6
2.5
25.2
8.8
2.9
29.3
10.3
3.4
37.8
12.1
4.2
45.3
14.2
5.1
54.6
16.7
6.7
74.6
22.5
10.0
95.0
30.5
16.8
8
10
21
15
17
17
16
17
17
29
18
22
20
17
23
20
18
31
37
34
48
27
36
69
5.2
5.6
6.2
7.0
8.5
9.7
10.6
14.1
18.2
9
10
14
20
15
9
33
29
23.5
25.9
29.2
32.2
35.1
41.8
47.9
74.0
148.3
11
13
10
9
19
15
54
100
14.3
1.9
4.0
3.3
15.8
2.3
4.2
3.7
17.4
2.8
4.7
4.3
18.8
3.2
5.3
4.9
20.1
3.6
5.8
5.7
21.4
4.1
8.9
7.5
23.7
4.5
11.1
8.6
33.3
6.0
22.2
12.5
51.6
10.1
64.1
22.5
11
23
4
11
10
23
12
17
8
13
13
14
7
12
10
16
7
13
53
32
11
9
26
15
41
34
99
45
55
70
189
80
2.7
3.4
3.6
3.6
4.6
6.3
5.8
9.6
17.2
27
4
1
29
37
-8
66
79
107.0
138.5
*• Revised.
1. Consists of Belgium, France, Germany, Italy, Luxembourg, and the Netherlands.
2. Egypt is included in "Other Africa."
29
3. Consists of "European Economic Community (6)," Denmark, Ireland, and the United
Kingdom.
NOTE.—Details may not add to totals because of rounding.
SUEVEY OF CUEEENT BUSINESS
28
eign countries" grew faster than local
sales, due largely to exports by the
previously mentioned Swiss affiliates.
Affiliates in "other industries' —consisting of agriculture, public utilities,
transportation, construction, and finance and other services—increased
sales 53 percent, to $25.9 billion. By
destination, the share of local sales
declined to 85 percent of total sales from
May 1976
87 percent in 1973, while the share of
exports to "other foreign countries7'
rose to 10 percent from 8 percent. The
share of exports to the United States
was unchanged, at 5 percent.
Table 2.—-Distribution of Sales by Majority-Owned Foreign Affiliates of U.S. Companies: Destination by Industry and Area of Affiliate,
1973 and 1974
[Millions of dollars or percent of total]
Local sales 1
Total sales
Amount
1973 r
Total
.
By industry
Mining and smelting
Petroleum.
. . _
Manufacturing
Food products
Paper and allied products
Chemicals and allied products
Rubber products
Primary and fabricated metals
Machinery, except electrical
Electrical machinery
Transportation equipment
Other manufacturing
Trade .
Other industries. .
Developed countries
Percent of total
1974
1973 r
1974
1973 r
1974
Europe ..
United Kingdom
European Economic Community (6) 2 . .
Other Europe
. .
Japan
Australia, New Zealand, and South Africa
Developing countries
Latin America. ..
Ot er Africa s
Middle East 3 .
Other Asia and Pacific
International and unallocated
Addendum:
European Economic Community (9) 4
Amount
Exports to other foreign
countries
Percent of total
1973 r
1974
1973 r
1974
Amount
1973 r
Percent of total
1974
1973 r
1974
67,340 129,351
23
30
35
9
1,804
30,494
2,295
79, 297
45
34
45
43
7
6
22, 348
29,770
16
17
2
11
1
2
2
5
5
18
5
2
11
1
1
3
5
5
17
5
1,025
1,092
4,737
541
1,245
5,760
1,462
4,247
2,238
1,179
1,663
7,879
723
1,804
7,925
2,007
4,074
2,516
8
16
19
14
13
26
11
14
15
7
18
22
15
14
29
12
12
14
4
5
3
5
11,337
1,356
15, 493
2,497
29
8
34
10
6
5
34,227
47, 558
16
17
17
16
3,211
4,464
6
6
2
1
2
2
29, 461
5,538
16, 476
7,447
40, 757
7,608
22, 016
11, 133
23
18
22
33
25
19
23
36
5
291,354
437, 685
204,401
276,533
70
63
19,613
31,801
7
7
3,996
90, 750
5.109
184,919
737
53, 883
1,025
89,569
18
59
20
48
1,455
6,374
1,788
16, 053
36
7
140,878
175,703
109,073
134, 705
77
77
9,457
11, 228
13,705
6,968
25, 466
3,939
9,540
22, 179
13, 855
30,349
14, 877
17,001
9,259
36,206
4.952
12, 514
27, 449
17. 439
32. 665
18, 216
12, 395
5, 143
20, 432
3,336
8,069
15, 283
11,749
20, 740
11,927
15, 488
6,574
27,876
4,197
10, 316
18, 093
14,486
22, 954
14, 723
90
74
80
85
85
69
85
68
80
91
71
77
85
82
66
83
70
81
285
732
298
62
226
1, 136
644
5,362
712
334
1,023
451
33
394
1,431
946
5,637
977
38, 860
16,870
46,062
25,891
25,980
14, 728
29, 152
22,081
67
87
63
85
1,541
785
1,418
1,314
207, 793
272, 177
161, 102
209, 788
78
77
12,464
14, 831
56,466
71,403
43, 449
55, 528
77
78
9,806
11,411
127, 300
30, 197
74, 630
22,472
165, 772
40, 277
94, 991
30,504
95, 398
24,209
56, 642
14, 547
121,938
32,093
71, 132
18, 712
75
80
76
65
74
80
75
61
2,441
450
1,512
479
3,077
576
1,843
659
2
2
2
2
By area
Canada
9,952
16,849
9,512
15, 940
96
95
48
127
1
392
782
4
14, 075
18, 152
12, 744
16, 381
91
90
168
215
1
1
1,163
1,555
8
9
73, 956
148, 303
35, 984
55,364
49
37
6,596
14,763
9
10
31,377
78, 176
42
53
33,305
5,966
22, 154
12, 531
51,605
10, 139
64,078
22,480
23, 924
2,681
2,270
7,109
33, 187
3,958
6,648
11,571
72
45
10
57
64
39
10
51
3, 753
530
1,118
1,195
6,415
1,541
4,725
2,082
11
9
5
10
12
15
7
9
5,628
2,755
18, 766
4,228
12,003
4.641
52, 705
8,827
17
46
85
34
23
46
82
39
9,605
17,204
7,316
11,381
76
66
553
2,207
6
13
1,736
3,617
18
21
106,989
138, 536
82,576
105,710
77
76
2,017
2,515
2
2
22, 394
30,311
21
22
* Less than 0.5 percent.
»• Revised.
1. Sales by an affiliate in the country where it was located.
2. Consists of Belgium France, Germany, Italy, Luxembourg, and the Netherlands.
3. Egypt is included in "Other Africa."
Exports to the United States
(*)
4. Consists of the European Economic Community (6), Denmark, Ireland, and the United
Kingdom.
NOTE.—Details may not add to totals because of rounding.
SURVEY OF CURRENT BUSINESS
May 1976
Table 3.—Sales by Majority-Owned Foreign Affiliates of U.S.
29
Companies: Destination by Area by Industry of Affiliate, 1972-74
[Millions of dollars]
Total sales
Local sales 1
Exports to the United States
Affiliate area and industry
Exports to other foreign
countries
1972 *
1973 r
1974
1972 '
1973'
1974
276, 533
1,025
89, 569
134,705
29, 152
22,081
14,067
1,025
3,594
7,752
1,126
571
19, 613
1,455
6,374
9,457
1,541
785
31,801
1,788
16, 053
11, 228
1,418
1,314
45, 116
1,476
17, 290
16, 739
8,596
1,015
67, 340
1,804
30,494
22, 348
11, 337
1,356
129,351
2,295
79, 297
29,770
15, 493
2,497
43,449
313
7,402
24, 408
7,571
3,756
55,528
535
10, 807
3,594
7,569
6,024
7,953
410
(D)
5,746
729
(D)
9,806
652
1,424
6,615
984
132
11,411
737
2,050
7,692
777
155
2,422
480
(D)
1,358
541
(D)
3,211
764
8
1,690
719
30
4,464
933
19
2,439
1,028
44
71,459
9
16, 873
41,552
9,554
3,471
95,398
13
22, 266
54,677
12, 799
5,643
121,938
19
33, 741
65,757
14, 376
8,046
1,787
4
107
1,446
125
105
2,441
5
133
1,992
184
126
3,077
251
2,359
261
199
22,620
25
2,325
13, 874
5,888
508
29, 461
37
2,746
18,585
7,419
675
40, 757
26
4,855
24,321
10, 162
1,392
40,277
(*)
8,615
24,320
3,963
3,380
19,380
0
4,309
12, 081
2,196
794
24,209
0
4,846
14, 860
2,570
1,933
32,093
439
0
22
365
33
18
450
0
18
383
33
17
576
(*)
29
503
26
19
4,700
0
738
3,435
353
174
5,538
0
502
4,316
512
208
7,608
(*)
934
5,570
794
310
74,630
13
15,502
47,843
9,124
2,149
94,991
18
23,053
58,019
10,578
3,323
41,404
0
9,863
25, 149
5,022
1,371
56,642
0
13,638
33, 962
7,121
1,921
71,132
(*)
20, 181
40, 130
7,979
2,842
1,512
16, 717
28
3,049
5,847
6,233
1,561
22,472
42
4,278
7,852
8,165
2,136
30,504
35
7,179
10,099
10,258
2,933
10,676
9
2,702
4,322
2,337
1,306
14, 547
13
3,782
5,856
3,108
1,788
18,712
19
5,906
7,380
3,253
2,154
6,727
0
3,217
2,516
847
147
9,952
0
4,735
4,376
666
175
16,849
0
10,596
5,247
742
264
6,438
0
3,200
2,264
831
143
9,512
0
4,712
4,032
601
167
15,940
0
10,565
4,532
589
254
(D)
Australia, New Zealand, and South Africa:
All industries
Mining and smelting
Petroleum..
Manufacturing
Trade
«.
Other industries
10,596
777
1,870
6,471
820
659
14,075
604
2,539
8,813
1,360
760
18,152
865
3,564
10,906
1,855
961
9,398
235
1,854
5,984
775
550
12,744
74
2,519
8,208
1,301
643
16,381
81
3,482
10, 227
1,804
787
(D)
Latin America:
All industries
Mining and smelting.
Petroleum
Manufacturing
Trade
O ther industries
23,651
1,107
6,461
11, 605
2,667
1,811
33,305
1,465
9,785
16, 220
3,563
2,272
51,605
1,688
20,963
20, 859
4,671
3,424
17,356
187
3,171
10, 881
1,797
1,320
23,924
272
4,522
15, 230
2,246
1,654
33, 187
302
7,994
19, 438
3,020
2,433
4,466
86
3,542
315
162
361
5,966
102
4,796
406
227
434
10, 139
116
8,592
521
281
630
2,063
15
1,358
229152
309
2,681
25
1,754
317
215
370
11, 148
2
10,555
194
40
357
22, 154
2
21,344
185
70
553
64,078
2
62,523
262
104
1,188
1,670
2
1,103
175
33
357
8,646
76
3,750
2,185
1,836
799
12,531
39
5,924
2,911
2,626
1,029
22,480
181
12,400
4,746
3,679
1,474
5,356
28
2,113
1,685
757
772
1972 r
1973 '
1974
1972"
1973 r
1974
211,929
3,201
58, 831
107, 579
30,081
12,237
291, 354
3,996
90, 750
140,878
38,860
16,870
437,685
5, 109
184, 919
175, 703
46,062
25,891
152,747
701
37, 948
83,088
20,359
10, 651
204,401
737
53, 883
109,073
25, 980
14,728
45,045
1,116
5,789
27, 421
7,682
3,037
56,466
1,729
8,834
32, 713
9,274
3,917
71,403
2,205
12,876
40, 725
9,375
6,223
34, 671
226
4,766
20, 317
6,413
2,950
95, 866
37
19,305
56, 872
15, 567
4,085
127,300
55
25, 145
75, 254
20,403
6,443
165,772
53
38, 847
92,437
24, 799
9,636
24,519
0
5,070
15,881
2,583
985
30,197
0
5,366
19, 559
3,114
2,158
54,630
9
11, 187
35, 143
6,752
1,539
Other Europe:
All industries .
Mining and smelting
Petroleum
M anuf acturing
Trade
Other industries
Japan:
All industries .
Mining and smelting .
Petroleum.M anuf acturing
TradeOther industries .-
All areas:
All industries
Mining and smelting
Petroleum
M anuf acturing
Trade
Other industries. . .
Canada:
All industries .
Mining and smelting
Petroleum.. .... . .
Manufacturing
Trade
O ther industries . ...
-_
... .
Europe:
All industries .
Mining and smelting _ .
Petroleum
Manufacturing
Trade
Other industries.. .
United Kingdom:
All industries .
Mining and smelting
Petroleum
M anuf acturing
Trade
Other industries. ...
.
..
European Economic Community (6) : 2
All industries
Mining and smelting
Petroleum.
Manufacturing .
Trade
..
Other industries
Other Africa:3
All industries
Mining and smelting .
Petroleum.
Manufacturing
Trade
Other industries
Middle East: 3
All industries .
Mining and smelting
Petroleum..
Manufacturing
Trade.. .
Other industriesOther Asia and Pacific:
All industries __
Mining and smelting
Petr oleum __
Manufacturing
Trade.
Otner industries
International and unallocated:
All industries
Mining and smelting
Petroleum.
M anuf acturing
Trade __
Other industries
r
.
~
22,016
(D)
(D)
64
1,297
124
(D)
1,843
(D)
145
1,440
213
(D)
12, 250
(D)
1,287
9,149
1,657
(D)
16,476
(D)
1,800
12, 585
1,879
(D)
2,727
16,449
2,386
(D)
48
234
19
(D)
479
(D)
52
313
28
(D)
659
(D)
78
416
22
(D)
5,670
(D)
299
1,291
3,877
7,447
(D)
443
1,684
5,029
(D)
11, 133
(D)
1,195
2,303
6,983
(D)
35
0
48
0
127
0
392
0
23
308
57
3
782
0
31
621
126
4
1,163
425
19
564
49
104
1,555
651
82
620
42
160
977
37
846
73
372
(D)
27
3
(D)
(<)
°3«
4
(D)
254
0
(D)
225
13
94
28
5
(D)
(D)
(D)
168
105
1
40
10
11
215
133
(*)
59
9
14
1,070
472
(D)
455
36
2,555
490
1,428
250
170
216
3,753
663
2,257
359
226
249
6,415
875
4,452
509
239
340
3,740
430
1,861
474
700
274
5,628
530
3,006
632
1,091
369
12,003
511
8,518
912
1,412
650
3,958
(D)
2,748
393
262
(D)
211
(D)
124
20
530
29
434
18~
(*)
49
1,541
37
1,389
32
(*)
83
2,192
(D)
2,060
" 66
9
(D)
2,755
48
2,608
71
13
15
4,641
(D)
4,455
96
18
(D)
2,270
2
1,501
154
60
553
6,648
2
5,171
204
84
1,188
559
0
555
3
1,118
0
1,114
4
(*)
(*)
4,725
0
4,722
3
8,920
18,766
(*)
18,729
27
10
(*)
52,630
55
20
(*)
7,109
39
2,875
2,048
1,153
993
11,571
(D)
5,114
3,561
1,413
(D)
129
70
31
9
(D)
s
8
593
(D)
249
228
90
(D)
1,195
(
'\n
393
129
2
8
(D)
(
8*V
16
7
(*)
1,388
272
989
(D)
4,228
(*)
2,379
470
1,343
35
2,082
2,698
V™
480
(D)
102
16
52,705
8,827
(D)
5,803
704
2,164
(D)
5,782
9,605
17,204
4,335
7,316
11,381
553
2,207
1,200
1,736
3,617
4,343
7,647
14,558
3,511
6,332
9,949
(D)
339
1,705
(D)
976
2,903
458
981
670
1,287
557
2,090
34
950
35
1,396
(*)
(D)
1
213
1
501
412
(D)
635
124
521
193
Revised.
*D Less than $500,000.
Suppressed to avoid disclosure of data of individual reporters.
1. Sales by an affiliate in the country where it was located.
7,fi
18, 247
3,143
3,050
45
779
247
2. Consists of Belgium, France, Germany, Italy, Luxembourg, and the Netherlands.
3. Egypt is included in "Other Africa."
NOTE.—Details may not add to totals because of rounding.
SUEVEY OF CUEEENT BUSINESS
30
May 1976
Table 4.—Sales by Majority-Owned Foreign Manufacturing Affiliates of U.S. Companies: Destination by Area by Industry of
Affiliate, 1972-74
[Millions of dollars]
Local sales l
Total sales
Exports to the United States
Affliliate area and industry
1972
AH areas:
Manufacturing, total
Food products
Chemicals and allied products
Primary and fabricated metals
Machniery 2
Transportation equipment
Others
_
Canada:
Manufacturing, total
Food products
Chemicals and allied products
Primary and
fabricated metals. .
Machinery 2
Transportation equipment
Others . . .
...
United Kingdom:
Manufacturing, total
Food products
Chemicals and allied products
Primary and
fabricated metals
Machinery 2
Transportation equipment
. _
Others
_
. . .
European Economic Community (6) : 4
Manufcturing, total
Food products
Chemicals and allied products
Primary and
fabricated metals - _
.
Machinery 2
Transportation equipment
Others
Other Europe:
Manufacturing, total
Food products
Chemicals and allied products
Primary and
fabricated metals
Machinery 2
Transportation equipment
Other 3
Japan:
Manufacturing, total
Food products
Chemicals and allied products
Primary and fabricated
Machinery 2.
Transportation equipment. _ .
Australia, New Zeland, and South Africa:
Manufacturing, total
Food products
Chemicals and allied products
Primary and
fabricated metals
Machinery 2
Transportation
equipment. .
3
Other . . .
Latin America:
Manufacturing, total
Food products
Chemicals and allied products
Primary and
fabricated metals
Machinery2
Transportation equipment
Other Africa: «
Manufacturing, total
Food products
Chemicals and allied products
Primary and
fabricated metals
Machinery 2
Transportation equipment
Middle East: 5
Manufacturing, total
Food products
Chemicals andftlliedproducts
Primary and2 fabricated metals
Machinery .. . .
Transportation equipment ..
Other Asia and Pacific:
Manufacturing, total
Food products
Chemicals and allied products
Primary and
fabricated metals
Machinery 2 __ .
Transportation equipment .. . .
1974
1972
1973
9,457
285
298
226
1,780
5,362
1,506
11, 228
334
451
394
2,377
5,637
2,033
16,739
826
3,170
1,128
5,471
3,439
2,705
22,348
1,025
4,737
1,245
7,222
4,247
3,871
29, 770
1,179
7,879
1,804
9,932
4,074
4,902
7,692
117
188
264
703
4,898
1,521
1,358
68
569
4,012
819
6,615
107
129
153
607
4,494
1,125
206
315
514
1,690
80
162
135
241
375
697
2,439
64
223
191
465
386
1,111
18,247
1,773
3,825
1,921
4,377
3,397
2,956
365
10
7
5
163
383
12
17
7
175
503
3,435
92
532
227
1,454
4,316
74
749
271
1,852
5,570
33,962
3,532
5,680
3,181
10,365
5,571
5,635
40,130
4,112
7,314
4,152
12,468
4,918
7,165
846
19
41
2
287
1,297
16
95
2
450
1,440
11
143
9
625
9,149
439
2,033
436
3,053
12,585
591
3,091
444
4,106
4,322
497
959
327
1,233
560
747
5,856
599
1,348
433
1,667
823
984
7,380
800
1,907
545
1,951
885
1,290
234
8
10
21
89
(D)
(D)
313
416
10
21
69
138
8
170
1,291
46
182
169
361
1,684
48
340
158
517
(D)
(D)
5,247
182
2,316
(D)
2,043
29
(D)
2,264
90
686
(D)
1,244
20
(D)
4,032
124
1,760
(D)
1,628
26
(D)
4,532
182
2,034
(D)
1,691
29
(D)
27
(D)
10,906
1,075
1,754
(D)
2,075
3,172
(D)
5,984
490
999
(D)
972
1,899
(D)
8,208
780
1,336
(D)
1,433
2,551
(D)
10, 227
1,001
1,705
(D)
1,894
2,982
(D)
11,605
2,035
2,556
722
1,850
2,136
2,307
16,220
2,729
4-, 020
890
2,553
3,044
2,984
20,859
3,563
5,179
1,227
3,401
3,916
3,574
10,881
1,808
2,432
703
1,715
2,080
2,143
15,230
2,454
3,851
857
2,335
2,951
2,782
19,438
3,252
4,926
1,191
3,021
3,757
3,291
315
13
88
93
406
18
113
(D)
(D)
15
107
521
24
156
133
65
17
126
229
13
84
15
(D)
(D)
(D)
317
16
113
18
(D)
15
(D)
393
19
152
23
61
17
122
185
8
102
262
9
140
175
6
59
0
154
7
91
m°
0
33
0
204
9
127
(*)
27
0
42
2,185
228
693
217
530
42
474
2,911
289
805
264
765
166
1973
1974
107, 579
10,352
17, 821
7,646
27, 790
24,380
19,591
140,878
13, 705
25, 466
9,540
36,034
30,349
25, 784
175, 703
17,001
36,206
12, 514
44,888
32, 665
32, 427
83,088
9,276
14, 449
6,310
20,979
16,319
15, 754
109,073
12,395
20,432
8,069
27,032
20, 740
20,406
134, 705
15, 488
27,876
10,316
32, 579
22, 954
25,494
7,752
250
202
208
1,340
4,621
1,130
27, 421
2,768
2,850
1,493
5,487
8,604
6,220
32,713
3,440
3,336
1,724
6,273
10, 262
7,677
40,725
4,189
4,491
2,221
7,841
12,044
9,939
20,317
2,615
2,601
1,223
4,713
4,277
4,889
24, 408
3,253
3,045
1,436
5,425
5,393
5,855
30,594
4,008
4,080
1,766
6,674
6,760
7,305
5,746
85
15, 881
1,270
2,364
1,409
4,614
3,897
2,328
19, 599
1,466
3,214
1,857
5,842
4,305
2,875
24,320
1,880
5,043
2,316
6,929
4,500
3,652
12,081
1,168
1,825
1,176
2,997
2,985
1,930
14,860
1,380
2,448
1,579
3,815
3,249
2,389
35,143
2,847
6,212
2,846
11,050
6,931
5,258
47,843
4,139
8,866
3,626
14,920
8,762
7,530
58, 019
4,837
12,711
4,808
18,646
7,684
9,333
25, 149
2,389
4,138
2,407
7,710
4,446
4,058
5,847
551
1,150
517
1,683
677
1,269
7,852
656
1,700
631
2,296
1,000
1,569
10,099
848
2,522
855
2,801
1,084
1,988
2,516
90
807
(D)
1,332
20
(D)
4,376
124
1,933
(D)
1,723
26
(D)
6,471
545
1,034
8,813
837
1,378
(D)
1,118
2,060
(D)
(D)
(D)
12
(D)
...
1972
194
7
67
0
1,582
2,768
4,746
395
1,895
1,053
220
*Less than $500,000.
D Suppressed to avoid disclosure of data of individual reporters.
1. Sales by an affiliate in the country where it was located.
2. Includes both the electrical and nonelectrical machinery industries shown separately
in tables 5A-D.
3. Includes the following industries which are shown separately in tables 5A-D: paper
and allied products, rubber products, and "other manufacturing."
Exports to other foreign
countries
1974
1973
0
1,685
201
666
136
273
8
0
2,048
251
760
157
160
3,561
332
1,806
198
416
211
597
1972
R
1973
0
9
11
40
112
(D)
(D)
(*)
o
11
° 19
(*)
(D)
31
14
40
9
2
3
8
250
100
28
2
61
22
38
2
a
13
7
18
1
32
2
15
;> o
0
228
15
153
(*)
(*)
9
(*)
(
*>o
393
21
5
5
67
455
42
(*)
(*)
(*)
3
308
(*)
173
1
76
(*)
(D)
16,449
713
5,255
646
5,555
a
2,303
37
594
241
711
191
528
621
"m
283
(*)
620
(D)
162
54
474
127
96
17
75
33
127
632
165
133
32
100
49
154
912
187
207
35
172
104
205
71
2
96
3
4
83
W
*
(D)
(D)
(D)
(D)
(D)
S
16
47
41
175
190
(D)
(*)
2
55
27
(*)
(*)
0
0
m°
m°
480
31
6
(*)
347
5
91
272
12
22
470
17
40
106
104
4. Consists of Belgium, France, Germany, Italy, Luxembourg, and the Netherlands.
5. Egypt is included in "Other Africa."
NOTE.—Details may not add to totals because of rounding.
57
564
49
39
25
146
217
(D)
(D)
(D)
3
4
3
225
(*)
120
1
59
(*)
(*)
(D)
(D)
(D)
509
123
46
1
206
55
78
(*)
645
33
359
110
35
1
118
44
51
20
(*)
(D)
(D)
(*)
(*)
(D)
94
36
(D)
1,176
385
2,270
51
(*)
(D)
(D)
(D)
(D)
(*)
/D)
(D)
42
10
281
1974
10
7
0
704
32
83
290
4
SURVEY OF CURRENT BUSINESS
May 1976
31
Table 5A.—Total Sales by Majority-Owned Foreign Affiliates of U.S. Companies by Country and Industry of Affiliate, 1974
[Millions of dollars]
All
industries
Area or country
All countries
Mining
and
Petrosmelt- leum
ing
Manufacturing
Chemi- Rubber Primary Machin- Electrical Transpor- Other
Paper
and
cals and prodand
machin- tation
manuery,
allied
ucts fabricated except
ery
equipfacturallied
ment
ing
metals electrical
products products
Other
industries
Total
Food
products
5,109 184, 919 175, 703
17,001
9,259
36,206
4,952
12, 514
27,449
17,439
32, 665
18, 216
46, 062
25,891
13,011
8,218
28,837
3,583
10,773
25,482
14,854
28,513
16,045
36, 771
17,085
Trade
-
437, 685
- -
- - 272, 177
3,122
65,883 149,315
Canada
71,403
2,205
12,876
40, 725
4,189
4,286
4,491
1,200
2,221
4,635
3,206
12,044
4,453
9,375
6,223
Europe
165, 772
53
38,847
92,437
7,565
3,385
20,276
2,018
7,979
17,735
10, 642
13,268
9,569
24,799
9,636
40, 277
United Kingdom
94, 991
European Economic Community (6)
11, 265
Belgium and Luxembourg
France.
22,061
34, 557
Germany
13,404
Italy
Netherlands
. . -13,703
(*)
18
0
(*)
0
17
0
8,615
23,053
(D
)
(D)
9,108
4,532
3,346
24, 320
58, 019
7,325
13, 756
22,001
6,799
8,138
1,880
4,837
368
1,460
1,722
430
857
400
2,539
389
459
403
403
885
5,043
12, 711
1,946
2,666
2,889
1,616
3,594
515
1,229
288
342
183
96
320
2,316
4,808
306
637
2,317
695
852
5,427
10, 934
1,709
2,973
4,009
1,440
803
1,502
7,712
1,457
1,779
3,232
1,044
201
4,500
7,684
568
1,948
4,360
543
264
2,737
5,565
293
1,492
2,886
532
362
3,963
10, 578
1,699
3,225
2,700
1,492
1,464
3,380
3,323
(D
)
(D)
748
565
756
35
0
0
0
18
0
865
7,179
1,646
367
684
125
948
1,096
2,313
10,596
3,564
10,099
383
329
371
3,083
1,953
2,435
1,545
5,247
10,906
848
94
34
2
409
124
89
96
182
1,075
446
21
0
(D)
187
121
(D)
49
73
474
2,522
90
134
19
1,031
496
438
314
2,316
1,754
275
1
2
0
53
76
2
142
D
(D)
( )
855
9
32
69
166
276
208
95
(D
)
(D)
1,373
48
35
22
181
615
197
275
1,779
1,333
1,428
73
18
(D
)
(D)
(D)
141
208
264
742
1,084
(D)
0
0
D
( )
50
(D)
123
29
3,172
1,267
(D)
74
37
58
(D)
822
243
571
1,452
10, 258
325
41
241
585
551
7,603
912
742
1,855
2,933
141
(D)
(D)
396
200
1,255
782
264
961
719
(*)
146
1,961
D
(D
)
( )
7,898
582
2,426
881
33
161
205
11
258
1,336
114
304
186
(D)
140
(D)
417
24
986
4
344
479
40
223
2,280
(D)
(D)
1,128
71
253
1,108
203
544
692
(D)
(D)
Developed countries
-
Other Europe
Denmark
.
Ireland
...
Norway
Spain
Sweden
.
._.
Switzerland
Other
Japan
Australia, New Zealand, and South Africa..
Australia
New Zealand.
South Africa
.
...
30,504
2,495
773
1,437
4,189
3,652
12,389
5,570
16,849
18, 152
12,378
1,198
4,576
(D
)
(D)
(*)
Developing countries
148,303
1,987 104 479
26,388
3,990
1,042
7,369
1,370
1,741
1,967
2,585
4,152
2,171
8,735
6,716
Latin America . .
51, 605
1,688
20,963
20,859
3,563
915
5,179
1,003
1,227
1,429
1,972
3,916
1,656
4,671
3,424
42,689
3,915
11, 236
355
1,598
6,058
1,627
1,092
12,963
2,418
1,428
993
50
(D)
0
7
21
0
518
(D)
(D)
55
14, 738
421
2,248
186
266
60
458
18
9,224
1,366
489
20,560
2,835
7,727
126
1,185
4,912
284
231
2,461
472
328
3,528
558
772
25
166
961
8
75
655
204
104
869
12
181
(D)
184
237
65
0
116
45
(D)
5,035
463
2,090
54
321
1,225
199
79
393
146
65
995
168
378
0
98
193
0
(D)
116
(D)
0
1,223
180
373
0
69
369
0
37
151
(D
)
(D)
1,423
160
872
0
(D)
354
0
(D)
12
0
(*)
1,965
142
841
(*)
99
544
0
9
279
30
21
3,916
814
1,875
(D
)
(D)
599
0
(*)
536
1
0
1,605
338
346
16
142
430
12
1
203
18
99
3,979
400
860
18
80
757
687
146
585
224
222
2,419
209
(D)
25
60
307
197
179
(D)
(D)
334
8,915
2,496
3,968
749
1,702
695
0
0
314
380
6,226
1,790
3,436
165
834
298
49
15
93
142
35
(D)
12
(D)
45
0
0
9
36
144
(D)
4
0
0
0
4
5
5
0
1
0
7
0
0
2
5
0
0
0
0
0
50
P) 85
8
0
0
8
0
5
692
354
151
8
179
1,005
303
365
170
167
10, 139
116
8,592
521
24
0
156
61
133
1
64
17
65
281
630
0
1
0
0
4
60
0
0
0
17
1
0
52
12
22
2
32
225
213
52
103
262
18
15
0
9
104
1,188
2
16
11
4
0
0
0
9
16
87
105
1,083
534
220
441
3,679
1,474
10
0
119
(D
)
(D)
86
212
106
5
4
582
2,983
D
(D
)
( D)
( D)
( )
1,209
557
2,090
Latin American Republics
Argentina .
._
Brazil
Chile
Colombia
Mexico
Panama
Peru__.
Venezuela
Other Central America
Other and unallocated
.
Other Western Hemisphere.
Bahamas
Bermuda
Jamaica
.
Other and unallocated
Other AfricaL..
Liberia .
Libya.
Nigeria
Other and unallocated
548
2,982
3,354
3,256
Middle East 1
Iran
Other and unallocated
Other Asia and Pacific
India
Indonesia
Korea
Philippines
Other and unallocated
International and unallocated
.
249
2,928
3,096
2,320
2
62 523
262
9,301
54,777
2
0
9,079
53,443
98
164
22,480
181
12,400
4,746
1,193
8,074
1,457
2,347
9,410
(D)
0
0
(D)13
17, 204
D
( )
7,721
(D)
760
3,141
733
104
939
906
2,065
0
0
0
0
0
0
(*)
23
9
(D
)
D
( )
395
8
(DD)
( )
235
138
D
()
61
79
1,895
0
0
25
31
242
1
911
278
463
0
0
4
129
1
0
0
59
61
95
140
D 0
()
(D)
(D)
0
(*)
(D)
(D)
D
( )
(D)
118
(D)
0
80
57
(D)
0
(D)
D
( )
0
0
35
270
0
0
519
118
0
2
8
391
(D
)
( DD)
( )
32
420
1
127
82
(°)
14, 558
(D)
33, 681
D Suppressed to avoid disclosure of data of individual reporters.
1. Egypt is included in "Other Africa."
3
(*)
123
395
64,078
Addendum:
European Economic Community (9) 2. 138, 536
* Less than $500,000.
62
0
0
54
(D>
83,051
6,845
2,960
17, 978
1,747
7,165
16,444
9,305
(D)
(D)
2
14,907
(D)
2. Consists of "European Economic Community (6)," Denmark, Ireland, and the United
Kingdom.
NOTE.—Details may not add to totals because of rounding.
SUEVEY OF CUEEENT BUSINESS
32
May 1976
Table 5B.—Local Sales by Majority-Owned Foreign Affiliates of U.S. Companies, by Country and Industry of Affiliate, 1974
1
[Millions of dollars]
All
industries
Area or country
Mining
Petroand
smelt- leum
ing
Manufacturing
Total
Food
products
Paper
Chemi- Rubber Primary Machin- Electrical Transporery,
machintation
and
cals and prodand
ery
equipallied
allied
ucts fabricated except
ment
products products
metals electrical
Other
manufacturing
Trade
Other
industries
276,533
1,025
89,569 134,705
15,488
6,574
27,876
4,197
10,316
18,093
14,486
22,954
14,723
29,152
22,081
Developed countries
209,788
635
58,594 111,110
11,876
5,757
20,864
2,849
8,903
16,547
12,507
18,970
12,836
24,337
15, 111
Canada . . .
55,528
535
10,807
30,594
4,008
2,450
4,080
1,180
1,766
3,712
2,962
6,760
3,675
7,569
6,024
121,938
19
33,741
65,757
6,685
2,771
13,046
1,334
6,619
10,210
8,586
9,200
7,307
14,376
8,046
7,653
20, 181
(D)
(D)
8,784
4,058
1,850
18,247
40, 130
3, 101
10,884
16,704
5,476
3,965
1,773
4,112
262
1,371
1,605
406
468
372
1,994
236
432
387
344
596
3,825
7,314
487
2.079
2,354
1,259
1,135
418
670
(D)
180
138
88
(D)
1,921
4,152
174
454
2,202
601
721
3,261
6,213
363
1,995
2,493
1,022
340
1,116
6,255
956
1,580
2,736
835
148
3,397
4,918
(D)
1,671
2,264
486
(D)
2,166
4,501
169
1, 123
2,525
434
250
3.143
7,979
958
2,621
2,304
1,453
643
3,050
2,842
D
(D
)
( )
729
516
563
7,380
321
125
235
2,898
1,181
1,421
1,199
800
85
19
2
399
124
84
88
405
21
0
(D)
178
105
(D)
45
1,907
(D)
30
(D)
986
380
164
255
245
1
2
0
53
56
2
132
545
5
2
7
162
88
197
85
736
19
15
18
158
227
104
198
1,215
65
0
18
5,906
1,230
356
(D)
(D)
906
511
2,300
885
(D)
0
0
(D)
49
(D)
123
640
(D)
58
8
55
(D)
385
111
3,253
254
38
238
582
502
954
685
2,154
127
34
D
(D)
( )
195
672
611
15,940
0
10,565
4,532
182
69
2,034
(D)
(D)
1,458
233
29
495
589
254
Australia, New Zealand, and South Africa. 16,381
81
3,482
10, 227
1,001
466
1,705
D
( )
(D)
1,167
727
2,982
1,359
1,804
787
(D)
(D)
(D)
7,467
563
2,197
826
28
148
200
11
255
1,299
113
292
176
(D
)
(D)
399
(D)
89
948
4
215
467
39
221
2,111
(D)
(D)
1,040
71
248
1,101
171
532
518
(D
)
(D)
All countries
Europe
United Kingdom .
..
European Economic Community (6)
Belgium and Luxembourg
France
Germany
Italy
Netherlands
32.093
71, 132
5.760
18,328
28,521
11.502
7,022
Other Europe..
Denmark .
Ireland
Norway _
Spain. .
Sweden
Switzerland
Other.
18,712
1,932
553
1,094
3,979
2,783
3,559
4,813
,
Japan
Australia.
New Zealand
South Africa
11,075
- .- 1.144
4,162
Developing countries
Latin America
Latin American Republics
Argentina
Brazil
Chile
Colombia
Mexico
Panama
Peru
Venezuela
Other Central America
Other and unallocated
-
-
Other Western Hemisphere
Bahamas
Bermuda
Jamaica. .
Other and unallocated
--
Other Africa 2. .
Other Asia and Pacific
India
Indonesia
Korea
Philippines.
Other and unallocated
International and unallocated
0
19
0
(*)
n
l
(D)
(*)
(D)
117
164
390
21,027
23,596
3,612
817
7,011
1,348
1,412
1,546
1,979
3,984
1,887
4,779
5,573
7,994
19,438
3,252
749
4,926
994
1,191
1,277
1,744
3,757
1,548
3,020
2,433
29, 954
3,408
10, 668
332
1,475
5,615
931
703
4,345
1,667
811
263
50
(D)
0
7
(*)
0
182
(D)
19,251
2.541
7,304
106
1,087
4,678
186
199
2,448
405
295
3,231
374
736
15
164
950
5
47
655
191
94
706
7
158
(D)
129
231
2
0
114
44
(D)
4,835
446
2,044
54
300
1,194
170
78
392
103
52
986
167
375
0
96
193
0
(D)
115
o
1,188
170
360
0
68
359
0
36
150
(D)
(D)
1,276
132
771
0
(D)
338
0
(D)
12
0
(*)
1,738
137
723
(*)
95
451
0
9
279
23
21
3,757
778
1,809
(D)
(D)
546
0
(*)
531
1
0
1,533
331
326
16
131
415
9
°2
5,576
391
2,234
182
247
60
418
18
888
893
245
89
2,935
241
730
18
80
587
267
141
582
206
82
1,931
185
(D)
25
53
290
59
163
(D)
164
187
3,233
406
1,446
307
1,073
39
0
0
9
30
2,418
220
(D)
50
(l>)
187
11
2
81
93
21
(D)
2
(D)
43
0
0
9
34
91
45
8
0
0
8
0
4
0
0
0
4
0
6
0
0
1
5
0
0
0
0
0
15
2
0
11
2
85
23
1
8
54
504
151
( )
161
(D)
393
19
152
57
23
1
60
17
65
262
(D)
0
0
0
0
57
0
0
4
19
0
0
0
0
4
55
0
0
0
17
1
0
52
11
22
2
29
209
112
52
100
(D)
12
15
0
6
84
1,188
0
2
9
11
4
0
0
0
6
16
67
105
1,083
198
256
160
211
268
1,413
(D)
10
0
86
106
3
(*)
486
818
(D)
D
2,748
( )
.(*)
0
D 0
()
(D)
(D)
1
680
1,308
(*)
18
9
2
5,171
204
3,383
3,265
2
0
3,164
2,008
97
107
5,114
3,561
(D)
673
56
930
840
1,062
11,571
1.134
2,055
1,379
2,185
4,819
11,381
(D)
0
n
(o
\
(*)
1,903
(D)
759
1,737
0
0
0
(*)
120
271
6,648
Addendum:
European Economic Community (9)3. 105.710
D
(D
)
( )
332
0
0
0
0
(D)
( )
D
( )
201
112
(D)
(*)
(D)
(*)
()
(D)
(*)
(D)
0
0
25
59
93
(D)
127
(D)
60
67
(D)
1,806
(D)
D 0
D
235
1
911
277
382
(*)
(*)
113
(D)
(D)
o
79
53
(D)
o
0
35
s
1
0
108
0
2
7
139
D
(D
)
( )
(*)
32
59
1
127
73
w
»14
(D)
(D)
(D)
9,949
29,420
58, 823
5,989
"Less than $500,000.
D
Suppressed to avoid disclosure of data of individual reporters.
1. Local sales estimates at this level of detail are published for the first time in this article.
Tables showing similar estimates for 1966-73 are available from the Bureau of Economic
Analysis (BE-50), U.S. Department of Commerce, Washington, D.C. 20230.
8
%
302
( )
930
2,078
.
°.0
33,187
(D
)
D
Middle East 2....
0
55,364
3,958
Liberia .
Libya
Nigeria
Other and unallocated
Iran
O ther and unallocated
--
(*)
(*)
2,387
(D)
1,091
6,080
9,508
7,436
(D)
(D)
57
D
92
(D
)
(D)
1,189
35
1,396
11,414
6,053
2. Egypt is included in "Other Africa."
3. Consists of "European Economic Community (6)," Denmark, Ireland, and the United
Kingdom.
NOTE.—Details may not add to totals because of rounding.
SURVEY OF CURRENT BUSINESS
May 1976
33
Table 5C.—Export Sales to the United States by Majority-Owned Foreign Affiliates of U.S. Companies, by Country and Industry of
Affiliate, 1974 1
[Millions of dollars]
All
industries
Area or country
Mining
and
Petrosmelt- leum
ing
Manufacturing
Total
Food
products
Paper
Chemi- Rubber Primary Machin- Electrical Pranspor- Other
cals and prodery,
machinmanuand
and
tation
facturery
equipallied
allied
ucts i abricated except
metals electrical
ment
ing
products products
Other
industries
Trade
31,801
1,788
16,053
11,228
334
1,023
451
33
394
1,431
946
5,637
977
1,418
1,314
14,831
877
2,302
10,204
178
1,003
397
31
366
1,369
455
5,576
829
1,076
374
Canada
11,411
737
2,050
7,692
117
992
188
8
264
532
171
4,898
521
777
155
Europe
3,077
D
( )
206
20
88
790
254
678
274
261
199
8
R
42
143
46
27
13
19
39
2
16
3
2
(DD)
(D)
( )
2
(*)
0
0
(*)
2
10
9
171
522
193
34
164
34
97
110
103
4
2
24
71
1
49
57
1
6
26
213
3
140
36
1
33
All countries
. . -.
Developed countries . - - - - _ .
United Kingdom
.
European Economic Community (6)
Belgium and Luxembourg
France
Germany
Italy .
Netherlands
- - Other Europe
Denmark
Ireland
Norway
Spain _
Sweden ._
Switzerland
Other
576
1,843
288
298
822
229
206
659
32
64
(*)
20
115
236
191
...
Japan
7
(*)
(D)
0
29
145
(*)
(D
)
(D)
o
9
0
(*)
(D)
(D) 0
D
()
(*)
Australia
New Zealand
South Africa
Developing countries
Latin America
" o0
\0
43
(*)
15
14,763
912
12,046
1,024
156
1,541
181
(D)
(D)
410
486
(*)
27
1,186
(DD)
( )
765
International and unallocated
2 207
Addendum:
European Economic Community (9)3.
2,515
3,906
( DD)
( )
509
(*)
(*)
(DD>
(n>
(*)
(*)
(*)
20
20
3
37
1,389
32
2
0
1
0
(DD)
( D)
( )
373
(*)
(*)
30
0
0
0
2
0
0
0
0
0
4,722
3
(D)
o
D
( )
0
0
(*)
w
0
.
(*)
(*)
8
(*)
(*)
(*)
3
$
(*)
o
0
(*)
(*)
(*)
W
(*)
o0
0
1
2
1,483
480
31
(*)
1,168
27
(DD)
(D)
( )
414
0
0
(*)
(*)
23
8
"o
(*)
(*)
i
(D)
0
(*)
(*)
(*)
D
o
°28
"x
39
n
(
*>4
65
10
12
(
*>o
13
1
1
(*)
0
0
(*)
0
°7
8o
(D)
(>)
(<)
(*)
(*)
62
28
28
(*)
23
0
(*)
5
0
0
(*)
C)
(*)
(*)
(*)
o
(D)
(*) 0
(*)
2
27
0
1
0
0
0
0
(*)
0
0
0
0
0
(*)
0
0
(*)
(*)
(*)
(*)
0
(*)
(*)
1
2
0
0
6
(*)
(*)
(*) 0
8 6 (*)
(*)
(*)
27
0
0
0
0
34
(*)
(*)
(*)
0
0
0
W
o
°0
34
( )
(D)
(D)
9
(D)
(D)
(D)
(D)
IS
47
699
13
7
(D)
8
22
(D)
(*)
(D)
(*)
168
(*)
(*)
(*)
(*)
(*)
143
24
(*)
23
28
5
(*)
10
9
14
10
1
6
2
(D)
0
0
3
(*)
(D)
17
(*)
(*)
(D
)
(DD)
( )
(*)
(*)
(D)
15
124
14
(*)
(*)
61
149
342
440
178
55
57
239
340
178
(DD)
( )
(*)
55
1
4
196
2
223
(D)
()
(
*'o
(D)
(*)
o0
0
0
0
0
0
(D)
(D)
(*)
5
3
9
2
(DD)
( )
(*)
0
0
0
0
0
(*)
0
0
(*)
(*)
57
16
(*)
(D)
16
(D)
43
35
(D)
(*)
(D)
(D)
5
91
0
0
26
(D)
5
(D>
669
8
(*)
(D)
(D)
o
60
106
11
10
95
86
117
(D)
48
(D)
50
83
81
°0
(*)
(*)
1
(*)
0
(*)
1 (*)
(*)
(*)
0
0
(*)
8
(*)
(*)
0
313
3
(DD)
( )
301
4
(D)
l
(<)
(*)
(*)
(*)
(*)
(*)
( )
(*)
(*)
8 . 8D .0
(*)
(*)
(*)
(D
)
D
(*)
(D
)
(D)
(*)
8
16
102
(*)
867
35
1
2,012
15
(DD)
( )
3
1,705
(D)
19
(D)
491
W
0
0
0
D
23
13
(*)
(*)
(*)
(*)
(*)
(*)
o
(D)
(*)
(D)
(*)
0
0
0
0
0
1
2
8
3
4
( )
(*)
27
1
(*)
(*)
(*)
(*)
17
(DD)
(D)
4
28
«;",
41
(D)
42
13
2
3
1,420
3,302
m
(D)
(*)
(*)
(*)
(*)
(D)
97
2
4
69
(*)
46
5
11
5
2
1
3
D
( )
(*)
(*)
o
(*)
()
%
(*)
W
8
54
20
123
*Less than $500,000.
D Suppressed to avoid disclosure of data of individual reporters.
1. Estimates of export sales to the United States at this level of detail are published for the
first time in this article. Tables showing similar estimates for 1966-73 are available from the
Bureau of Economic Analysis (BE-50), U.S. Department of Commerce, Washington, D.C.
20230*
2
52
(D)
2
(D)
19
(*)
2
5
3
1
546
367
(D)
0
(D)
2
10
2
389
0
0
289
100
o
21
(D)
3, 546
(DD)
( )
w
(D)
(*)
120
71
18
4
(*)
D
( D)
( )
4
(*)
5
9
1,421
3,304
2,082
4,452
8((*)*>
456
73
175
4
11
152
3
4
3
6
25
4,725
. ...
10
(
59
875
2
(')
(*)
(*)
(*)
1,147
440
227
300
180
India...
Indonesia
.
Korea
Philippines. . .
Other and unallocated
94
855
(D)
»
(*)
Other Western Hemisphere
Bahamas
Bermuda
Jamaica.. . . .
Other and unallocated
Other Asia and Pacific
(*)
n
68
(*)
65
0
(*)
21
0
181
(DD)
( )
38
Iran
Other and unallocated.
(*)
416
9
60
(*)
20
112
165
49
78
21
( )
(*)
D
( )
11
(*)
(*)
2
133
(*)
5,268
95
208
5
13
242
68
195
3,759
449
233
Middle East 2.
503
1,440
270
86
760
167
156
D
127
7
82
°0
0
Latin American Republics
Argentina. -.
Brazil
Chile.. .
Colombia
Mexico
Panama
Peru
Venezuela
Other Central America
Other and unallocated
Liberia
Libya
Nigeria
Other and unallocated
( )
215
6,415
Other Africa 2
(D)
2,359
(D)
(*)
c0)1
(*)
(D)
(D)
(*)
(*)
127
Australia, New Zealand, and South Africa.
251
D
(D)
(*)
(D)
(*)
(DD)
( )
501
(D)
2. Egypt is included in "Other Africa."
TT
3. Consists of "European Economic Community (6)," Denmark, Ireland, and the United
Kingdom.
NOTE.—Details may not add to totals because of rounding.
34
SUEVEY OF CUERENT BUSINESS
May 1976
Table 5D. — Export Sales to Other Foreign Countries by Majority-Owned Foreign Affiliates of U.S. Companies, by Country and Industry
of Affiliate, 19741
[Millions of dollars]
Manufacturing
All
industries
Area or country
All countries
129,351
Developed countries . .
47,558
4,464
Canada
Europe
7,608
22,016
5,217
3,435
5,215
1,673
6,476
Other Europe
Denmark
Ireland
Norway
Spain
._
Sweden
Switzerland
Other.
11, 133
531
156
342
190
754
8,594
566
Japan
Australia
New Zealand
South Africa
Developing countries,
1,176
47
331
78, 176
_. ..
Latin America
12,003
7,467
412
360
19
110
201
628
194
4,858
302
384
Latin American Kepub lies
Argentina
Brazil
Chile
Colombia
Mexico..
Panama _ .
.
Peru
Venezuela - Other Central America
Other and unallocated
Other Western Hemisphere
Bahamas
Bermuda
.
Jamaica
Other and unallocated
2
Middle East
.
4,535
1,650
2,294
142
449
4,641
Liberia
Libya
Nigeria
Other and unallocated
2
1,555
.
Iran
Other and unallocated
Other Asia and Pacific
India
Indonesia.
...
Korea
Philippines
Other and unallocated
International and unallocated
D
( )
2,093
(D)
768
52,705
4,496
48,209
8,827
33
4,833
(DD)
( )
3,826
Other
industries
29,770
1,179
1,663
7,879
723
1,804
7,925
2,007
4,074
2,516
15,493
2,497
4,988
28,002
957
1,458
7,575
703
1,504
7,566
1,892
3,967
2,380
11,358
1,600
19
2,439
64
223
12
191
391
74
386
256
1,028
44
4,855
24,321
( )
( )
7,024
665
1,272
6,734
1,803
3,390
1,989
10, 162
1,392
934
2,727
353
155
(DD)
( )
1,487
5,570
16,449
3,953
2,786
4,537
1,156
4,017
(D)
713
107
89
115
24
380
28
(D)
153
27
(D)
57
289
1,176
5,255
1,413
560
522
339
2,420
95
542
( )
160
(DD)
( )
161
385
646
132
181
110
92
130
1,994
4,200
1,153
944
1,352
384
366
276
1,355
497
197
472
137
51
(DD)
(D )
( )
264
(DD)
( D)
( )
522
1,007
123
364
D
( )
88
(D)
794
2,386
737
463
359
39
787
310
(D)
174
31
D
( )
36
186
2,303
53
144
136
165
660
848
297
37
9
15
0
(D)
(*)
41
0
0
7
9
16
6
4
594
(D)
94
(D)
44
112
272
(D)
27
(*)
0
0
(*)
17
(*)
10
241
4
2
62
3
149
11
10
540
27
16
4
20
324
83
66
171
(D)
191
3
0
0
460
6,983
0
0
1,195
394
D
(D
)
( D)
(D )
( ^
530
13
(DD)
(D )
(D)
(D)
(D)
( )
568
47
0
31
621
(*)
4
281
651
82
620
D
(V
387
19
214
71,406
1,768
1,610
933
26
(*)
(D)
0
(*)
0
(D) 0
(D) 0
8
C)
o
(D)
(D)
(*)
(D)
686
511
244
(*)
(*)
0
(*)
(*)
0
155
(DD)
( )
15
D
( )
5,256
(DD)
( )
3
17
(*)
(D)
(*)
4,789
(DD)
( )
853
222
248
16
86
81
95
27
9
62
8
( )
( )
26
(D)
(D)
(*)
3
35
1
12
(D)
Do
205
304
19
6
13
222
176
114
18
6
2
D
(D)
( )
24
(*)
1
144
5
(D
)
(D)
(D)
55
63
0
2
11
4,455
96
3
0
(D)
(D)
2,093
(D)
639
0
0
0
0
3
0
0
0
0
0
0
17
(*)
"o
(D)
0
(D)
o
8
30
(
52,630
55
4,496
48.134
1
55
5,803
(*)
4,650
(D)
(*)
1,089
704
33
(DD)
(D)
( )
588
2
0
0
0
2
*\i
(*)
(*)
*>2
94
(*)
0
(*)
32
(DD)
(D)
( )
12
18
( )
°16
20
(D)
D
()
(DD)
()
(D)
(*)
(D)
!
1
42
6
0
(*) 0
5
5
0
0
0
4
2
83
0
0
0
0
0
2
0
0
0
0
0
0
o
0
D
2
2
0
(*)
( )
(*)
D
7
(*)
(<)
i
75
0
( )
8
D
(*)
0
3
0
(*)
(D)
7
0
7
0
0
0
10
0
(*)
(*)
219
(D)
6,648
210
(*)
4
1
169
(DD)
( )
77
°5
6
27
10
159
(*)
(*)
115
107
136
3,614
704
104
51
1,412
650
848
157
D
( )
(*)
(*)
113
404
5
266
(DD)
( )
(*)
(D)
D
( )
49
(D)
(D)
(*)
(D)
(*)
49
3
0
1
6
(*)
(*)
104
34
62
(D)
(*)
(D)
o
(D)
n
1
0
0
4
0
(*)
(*)
(DD)
( )
(*)
(D)
(*)
(D)
o
0
0
0
0
0
0
0
(*)
(D)
5
12
5
1
D
(D
)
( )
(D)
0
0
(D)
0
0
0
(*)
(*)
0
0
564
297
(D)
(*)
(D)
384
(DD)
(D
)
(D)
( )
n
18
(D)
o2
(*)
(D)
16
22.216
(D)
()
(D)
637
1,037
6,237
20
(*)
3
20
(*)
(*)
(*)
0
0
0
3
%
(*)
(*)
4
82
2,164
(D)
7
(*)
(*)
61
D
( )
(*)
(D)
0
59
°0
(D)
3
(D
)
D
(*)
( )
0
(D)
3,202
(D)
6
861
2
4
28
2,130
521
D
6
(D>
2
(D)
(*)
2,903
13
15
0
229
( )
5
(*)
83
D
1
10
83
0
(*)
10
0
(*)
(D)
294
108
160
123
o
(D)
(*)
42
34
(*)
129
(*)
(*)
!
3
2
126
18
118
29
78
0
1
11
0
(*)
n
3
82
12
35
10
13
0
2
9
0
1
1
16
29
(D>
53
4
163
359
(D)
(D)
190
279
0
0
0
0
0
r)
8
8
( )
n
"l1
D
(D
)
(D)
( )
53
1
35
"o
(D)
41
300
8
1
2
0
2
16
(D)
(DD)
( )
8
D
(*)
(*)
( )
(D)
(
()
207
146
187
59
(D)
11
D
(*)
47
3,262
1,203
1,941
115
2
267
0
0
17
250
D
D
912
8,518
843
D
D
*Less than $500,000.
D Suppressed to avoid disclosure of data of individual reporters
1. Estimates of export sales to other foreign countries at this level of detail are published for
the first time in this article. Tables shewing estimates for 1966-73 are available from the Bureau
of Economic Analysis (BE-50), U.S. Department of Commerce, Washington, D.C. 20230.
Trade
79,297
2,295
3,617
Addendum:
European Economic Community (9) 3. 30,311
Other
manufacturing
Food
products
782
Australia, New Zealand, and South Africa-
Chemi- Rubber Primary Machin- Electrical TransporPaper
and
ery,
machintation
cals and prodand
equipery
ucts fabricated except
allied
allied
metals electrical
ment
products products
Total
40,757
United Kingdom
European Economic Community (6)
Belgium and Luxembourg
France.
Germany
Italy
Netherlands
OtherAfrica
Mining
and
Petrosmelt- leum
ing
(D)
2
10
1
(*)
(D)
193
621
2. Egypt is included in "Other Africa."
3. Consists of "European Economic Community (6)," Denmark, Ireland, and the United
Kingdom.
NOTE.—Details may not add to totals because of rounding.
By THE INTERNATIONAL INVESTMENT DIVISION
Benchmark Survey of Foreign Direct Investment
in the United States, 1974
1974 benchmark survey of foreign
direct investment in the United States
covered every business enterprise subject to U.S. jurisdiction in which a
foreign person had, at any time during
1974, a direct or indirect ownership of
10 percent or more of the voting securities of an incorporated business enterprise or equivalent interest in an unincorporated enterprise. Approximately
7,200 reports were filed with BEA;
these reports, because of consolidation,
cover about 10,200 U.S. business enterprises. The survey provides measures of
direct investment activity for the year
1974. These measures consist of: (1)
Foreign parents'1 direct investment
position in their U.S. affiliates, (2) U.S.
balance of payments transactions between U.S. affiliates and their foreign
parents, including international trade
flows, (3) foreign parents' shares in the
1. In this article "foreign parent" means all members of an
affiliated foreign group that consists of the foreign parent and
foreign affiliates of the foreign parent.
earnings of their U.S. affiliates, (4) U.S.
affiliates' balance sheets and related
financial data, (5) U.S. affiliates' income statements and related financial
data, and (6) miscellaneous data.
PRINCIPAL FINDINGS
Foreign direct investment position
The foreign direct investment position in the United States was $26.5
billion at yearend 1974. This is the
value of foreign parents' direct claims
on the assets of their U.S. affiliates,
net of claims of these affiliates on their
parents' assets (chart 12).
Nearly 80 percent—$21.0 billion—of
the total investment position consisted
of foreign equity in incorporated U.S.
affiliates. Outstanding net loans to
incorporated affiliates were $4.4 billion.
The remaining $1.1 billion was investment in unincorporated affiliates.
The United Kingdom, Canada, and
the Netherlands had the largest direct
investment in this country; each accounted for about one-fifth of the total.
Japan had only about 1 percent, because substantial outstanding loans of
U.S. affiliates to Japanese parents
largely offset Japanese parents' investment in their U.S. affiliates. Latin
America's 9 percent share came principally from Caribbean holding companies. The Middle East's 7 percent
share was almost entirely due to one
country's government which had participation in a U.S.-incorporated petroleum company with operating assets
in that country.
About one-third of the investment
position was in U.S. manufacturing,
mainly chemicals, food, and machinery.
Petroleum and finance, insurance, and
real estate, each accounted for about
one-fourth of the total. Most of the
remainder was in wholesale trade.
Almost 60 percent of the investment
position was in U.S. affiliates wholly
owned by foreigners. Most of the re-
This article summarizes the findings of the BEA benchmark survey of foreign direct
investment in the United States in 1974. The survey was conducted to meet the statistical
data requirements of the Foreign Investment Study Act of 1974. The article, with minor
differences, was published as chapter 3 in volume 1 of Foreign Direct Investment in the
United States, the final report to Congress.
\olume 2 of the final report contains the detailed findings of the survey. Data are
presented in 132 tables and are classified by country and industry of foreign parent,
industry and legal form of U.S. affiliate, and State and region of affiliate location in the
United States. The report also contains a methodology and reproduces the report form
and instructions.
The survey data will be used as a benchmark for BEA's regularly published series on
foreign direct investment in the United States. These series cover the direct investment
position, related balance of payments transactions (net capital inflows, balance of payments income, and fees and royalties), and the foreign parents' shares in the adjusted
earnings, earnings, and reinvested earnings of their affiliates. The benchmarking work
has begun and will be completed next year. Until then, BEA will continue to publish
series that are benchmarked to the 1959 survey of foreign direct investment in the United
States. These series appear in the balance of payments accounts, and in the annual
review articles on direct investment and on the U.S. international investment position.
35
SURVEY OF CURRENT BUSINESS
36
mainder was in affiliates owned 50 to
99 percent by foreigners; less than 10
percent was in affiliates with minority
foreign ownership.
The position increased $5.1 billion in
1974. The increase consisted of net
capital inflows of $3.8 billion, reinvested earnings of $1.6 billion, and
small negative valuation adjustments.
Adjusted earnings—the foreign parents' return on their direct investment
position—were $6.6 billion. Balance of
payments income—the portion of ad-
justed earnings distributed to foreign
parents—was $5.1 billion. Most of the
earnings and income were accounted
for by the Middle East Government
mentioned previously.
Merchandise trade
U.S. affiliates accounted for a substantial proportion of total U.S. merchandise trade in 1974—$24.2 billion,
or 24 percent, of total U.S. exports and
$30.5 billion, or 30 percent, of total
U.S. imports.
May 1976
Affiliates' exports of foods—mainly
shipments of grain—and industrial supplies and materials were particularly
large in relation to total U.S. exports
of these goods (chart 13). Their exports
of manufactured goods, on the other
hand, were relatively small. Affiliates'
shares of total U.S. imports of road
motor vehicles and metal manufactures were significant.
U.S. affiliates dominated U.S. trade
with Japan and had sizable trade with
Germany.
CHART 12
Distribution of Foreign Direct Investment Position in, and Total Assets of,
U.S. Affiliates, Yearend 1974
Foreign Direct Investment Position: $26.5 Billion
BY COUNTRY OF FOREIGN PARENT*
BY INDUSTRY OF U.S. AFFILIATE
Total Assets of U.S. Affiliates: $174.3 Billion
Other Eui
(2%)
BY COUNTRY OF FOREIGN PARENT*
BY INDUSTRY OF U.S. AFFILIATE
* Where there was direct ownership in a U.S. affiliate by more than one foreign parent, the portion of the direct investment position attributable to each parent
was classified by each parent's own country. Total assets were classified by the country of the foreign parent having the largest portion ot the direct investment
position. Parents in Latin America are largely holding companies in the Caribbean area owned by residents of other countries, including the United States.
U.S. Department of Commerce, Bureau of Economic Analysis
76-5-12
May 1976
About four-fifths of total affiliate
exports and nearly as much of their
imports was by wholesale trade
affiliates.
Financial and operating data
SURVEY OF CUEREXT BUSINESS
had the largest amount of fixed assets,
$10.4 billion.
Affiliates classified in real estate had
assets of $4.2 billion and net property,
plant, and equipment of $2.6 billion.
37
States was $26.5 billion (table 1). The
position measures the value of the
foreign parents' direct claims on the
assets of their U.S. affiliates, net of
claims of U.S. affiliates on the assets
of their foreign parents. Incorporated
affiliates accounted for 96 percent, and
unincorporated affiliates for 4 percent,
of the position.
Foreign parents' net equity position
in incorporated affiliates—net ownership in affiliates' capital stock and sur-
Total assets of all U.S. affiliates were Foreign Direct Investment Position and Related Balance
$174.3 billion at yearend 1974. More
than half was accounted for by affiliates
of Payments Data
of European parents, especially those
in the United Kingdom and the Nether- Foreign direct investment position
lands. Affiliates of Japanese parents
At yearend 1974, the foreign direct
had 22 percent, the largest share of any investment position in the United
country.
Nearly half of total assets was held by
CHART 13
affiliates in finance, insurance, and real
U.S. Merchandise Trade of U.S. Affiliates Compared to Total
estate, primarily those in banking.
Affiliates in petroleum, manufacturing,
U.S. Trade, 1974
and wholesale trade each accounted for
BY COMMODITY
roughly 15 percent of the total.
5
10
15
20
25
5
10
15
20
25
c
0
Net property, plant, and equipment,
1
1
i
1
1
1
1
1
1
1
U.S. IMPORTS
U.S. EXPORTS
excluding land held for resale, was
Food, Beverages
$29.4 billion, or 17 percent, of U.S. & Tobacco
a
i
affiliates' assets.
Inedible Crude
m i
U.S. affiliates had sales of $146.8 Materials, Ex. Fuels
Petroleum & Products,
m
i
billion. Affiliates of European parents Ex. Natural Gas
ft
accounted for more than half, and those Chemicals
n
3D
of Japanese parents for more than oneMachinery, Electrical
fourth, of the total.
US
m
i
& Nonelectrical
Wholesale trade affiliates had sales of Road Motor Vehicles
1
$66.5 billion, nearly half of the total,
Other Transportation
mainly from selling farm-product raw Equipment
D
1
1
materials, metals and minerals, and
Metal Manufactures
motor vehicles. Manufacturing and
Affilhtn?
petroleum affiliates each accounted for Other Manufactures
m
i
i
i By Oilier
about one-fourth of the total.
I
1 y 5 Persons
Exports or Imports,
in
m
U.S. affiliates financed their opera- n.e.c., & Reexports
I
I
i
i
i
i
i
i
i
i
tions largely through increased liaBY AREA OF DESTINATION OR ORIGIN
bilities, primarily to U.S. banks and
Billion $
Billion $
5
10
15
20
25
0
5
10
15
20
25
C)
other U.S. lenders.
I
I
1
1
1
I
i
i
i
i
U.S. affiliates employed 1,083,000
U.S. IMPORTS
U.S. EXPORTS
persons, with about half in manufac- Canada
1
1
turing. Only about 5 percent of all
EB 1
employees were non-U.S. citizens. By Germany
State, New York, followed by California, Other EEC
tta
i
1
New Jersey, and Illinois, had the largest
$*]
Other Europe
number of affiliate employees.
3=1
Wages and salaries paid by U.S. Japan
I
affiliates totaled $11.4 billion.
Australia, New Zealand
D
Gross property, plant, and equip- & So. Africa
ment, including land held for resale, Latin America
m
m
of U.S. affiliates was $45.5 billion. Of
the total, about one-fourth was em- Middle East
Africa, Asia
ployed in the development of natural Other
& Pacific, &
m
#$
resources, about two-fifths in industrial Unidentified Countries
1
1
I
I
I
uses, and a third in other business and
commercial uses. The Southeast region U.S. Department of Commerce, Bureau of Economic Analysis
mD
n
win
i i i i i
SUEVEY OF CUERENT BUSINESS
38
plus accounts—was nearly 80 percent
of the total position. Net intercompany
accounts of incorporated affiliates were
$4.4 billion; affiliates7 payables to foreign parents of $8.3 billion were partly
offset by affiliates' receivables from
foreign parents of $3.9 billion. More
than half of total receivables were
from Japanese parents; receivables from
parents in the United Kingdom, Germany, and Canada were also significant.
Investment by Canadian and European parents accounted for 83 percent
of the total position. Three countries—
Canada, the United Kingdom, and
the Netherlands—each held about onefifth of the total position.
The investment position of Japanese
parents was only $0.1 billion, less than
1 percent of the total position. This
is the result of netting investment by
U.S. affiliates in their Japanese parents,
primarily in the form of loans to their
parents, against investment by Japanese parents in their U.S. affiliates.
Investment by Canadian parents was
largely in manufacturing, finance, insurance, and real estate, and wholesale
trade (table 2). The largest proportion
of European investment was in manufacturing, particularly chemicals. European investment accounted for 80
percent of all foreign investment in
the U.S. chemical industry, and was
mostly by foreign parents in Germany,
Switzerland, the United Kingdom, and
the Netherlands.
Among nonmanufacturing industries,
European investment was concentrated
in petroleum,2 finance, insurance, and
real estate, and wholesale trade. In
petroleum, European investments were
held primarily by foreign parents in
the Netherlands and the United Kingdom. In finance, insurance, and real
estate, members of the European Eco2. The petroleum industry is defined on an integrated
basis that covers all stages of operations—exploration and
development, production, refining, marketing, and distribution. Unless otherwise noted, as in the discussion of trade,
it includes the natural gas operations of the industry.
May 1976
nomic Community,3 particularly the
United Kingdom, held the largest
investment. European investment in
wholesale trade was more evenly dispersed among major investing countries; the largest proportions were held
by the United Kingdom and Germany.
In addition to those held by Europe
and Canada, significant investments
were held by parents in Latin America
and the Middle East. As noted previously, net Japanese investment was
small. Latin American investments—
held largely by Caribbean holding
companies—were concentrated in finance, insurance, and real estate, and
in manufacturing, particularly chemicals. Most Caribbean holding companies are, in turn, owned by residents
of other countries, including the United
States.
The investment position of foreign
parents in the Middle East was mainly
3. Throughout this study, refers to the nine-country EEC.
Table 1.—Foreign Direct Investment Position in the United States at Year-end 1974, by Country and by Industry of U.S. Affiliate
[Millions of dollars]
Incorporated affiliates
Total
Net equity i
Total
Developed countries
26,512
25,385
20,969
4,417
8,296
3,879
1,127
22,175
21,317
17,765
3,552
7,115
3,563
858
5,177
4,913
3,725
1,188
1,360
172
264
16,847
14, 133
1,145
1,562
4,704
5,714
1,008
2,714
2,002
711
15,973
13, 405
1,080
1,475
4,680
5,229
941
2,568
1,886
682
12,521
10,919
769
1,011
4,306
4,248
585
1,602
1,155
447
3,452
2,486
311
464
374
980
357
966
732
234
4,520
3,395
417
638
450
1,451
438
1,124
776
348
1,068
909
106
175
76
470
82
159
44
115
874
728
65
87
24
485
68
146
116
30
131
430
1,168
2,196
By country:
Canada
Europe
European Economic Community.
France _ .
Germany
Netherlands
United Kingdom
Other..
Other Europe
Switzerland
Other
Japan
Australia, New Zealand, and South Africa. ..
Developing countries
Latin America
Middle East
Other Africa, Asia, and Pacific
By industry of U.S. affiliate:
Petroleum
Manufacturing
Wholesale trade
Finance, insurance, and real estate
Other
-1,028
1
61
-60
4,337
4,069
3,204
865
2,280
2,051
1,090
63
6,346
8,164
4,008
5,470
1,398
5,670
6,483
2,797
4,961
1,058
2,438
1,768
130
"
1,458
20
6,354
8,242
4,153
6,196
1,567
D Suppressed to avoid disclosure of data of individual U.S. affiliates.
1. Equal foreign parents' shares in capital stock and additional paid-in capital plus
retained earnings of their incorporated affiliates, net of analogous investment of affiliates
in their foreign parents.
Receivables 2
Payables
Total
Total
Unincorporated
affiliates
Net intercompany accounts
(D)
(D)
(D)
(D)
229
675
1,681
1,211
509
340
66
1,182
(D)
(D)
-299
127
19
317
268
490
260
20
36
1,271
2,063
3,342
1,102
520
595
382
2,131
592
180
(D)
(D)
158
9
78
145
725
169
2. Investment by affiliates in foreign parents; therefore, subtracted from U.S. affiliate
payables to calculate foreign parents' investment position in U.S. affiliates' intercompany
accounts.
May 1976
in petroleum, and was almost entirely
accounted for by the investment of
the government of a Middle East
country in a U.S.-incorporated petroleum company, whose producing assets
are located in that country. (The
treatment of this investment as representing ownership interest in the U.S.incorporated company, rather than
ownership of the producing assets
in the Middle East country, may be
revised when ongoing negotiations involving a complete takeover are
finalized.)
By industry, the foreign direct investment position was distributed 31
percent in manufacturing, 24 percent
in petroleum, 23 percent in finance,
insurance, and real estate, 16 percent
in wholesale trade, and 6 percent in
all other industries combined. European
investments accounted for over half
of the total position in each of these
major industry groups; Canadian investment was at least one-fifth of the
total in all except petroleum.
Of the $8.2 billion of manufacturing
direct investment, $2.7 billion was in
chemicals, $1.4 billion in food, and
$1.1 billion in machinery. Canadian parents accounted for $2.0 billion, or 25
percent, of the total; a significant proportion of this was in the food industry.
The United Kingdom accounted for
22 percent, concentrated in chemicals
and the "other manufacturing indus-
SUKVEY OF CUREENT BUSINESS
39
tries" category. Switzerland's investments, concentrated in chemicals and
food, accounted for 15 percent.
The largest proportions of the $6.4
billion direct investment position in
petroleum were held by the Netherlands, the United Kingdom, and the
Middle East.
Among industries other than manufacturing and petroleum, direct investment was most significant in finance,
insurance, and real estate ($6.2 billion),
and in wholesale trade ($4.2 billion).
In finance, insurance, and real estate,
the largest investments were held by
the United Kingdom, Canada, the
Netherlands, France, and Latin America; the latter were accounted for primarily by holding companies in the
Netherlands Antilles, Bahamas, and
Panama. In wholesale trade, direct
investment was held primarily by
Canada and Europe, particularly the
United Kingdom and Germany. The
Japanese investment position in wholesale trade affiliates was insignificant
in contrast to the large contribution of
these affiliates to U.S. merchandise
trade; these affiliates accounted for
nearly half of both U.S. exports and
U.S. imports by all wholesale trade
affiliates.
By degree of foreign ownership, 58
percent of the direct investment position was in affiliates owned 100 percent
by foreigners, and 34 percent was in those
owned 50 to 99 percent. Thus, over 90
percent of the position was in majorityowned affiliates.
In the wholly owned group, affiliates
in manufacturing accounted for 41
percent; in finance, insurance, and real
estate, 31 percent; and in wholesale
trade, 21 percent. Over 85 percent of
the position was held by developed
countries, particularly Canada, the
United Kingdom, and Switzerland. In
the 50 to 99 percent group, petroleum
affiliates accounted for the largest
share—61 percent; manufacturing affiliates, 17 percent; and finance, insurance,
and real estate affiliates, 11 percent.
The largest positions were held by the
Netherlands (34 percent), the United
Kingdom (19 percent), and the Middle
East (18 percent).
Addition to the position in 1974-—
The foreign direct investment position
increased $5.1 billion in 1974. The
increase consisted of net capital inflows
of $3.8 billion, reinvested earnings of
$1.6 billion, and valuation adjustments
of - $0.2 billion (table 3).
Net capital inflows to incorporated
affiliates consist of net equity financing
from foreign parents to their incorporated affiliates—parents' purchases
of capital stock and additional paid-in
capital, less analogous investment of
affiliates in their parents—and net
intercompany loans. The inflows to
incorporated U.S. affiliates consist of
Table 2.—Foreign Direct Investment Position in the United States at Yearend 1974, Industry of U.S. Affiliate by Country
[Millions of dollars]
Total
Total
Developed countries
Canada
.
...
.
.
Europe
European Economic Community. - ..
France
.
Germany
Netherlands.
..
United Kingdom
Other
Other Europe
..
Switzerland
..
... . ._
Other
Japan
Australia, New Zealand, and South Africa
Developing countries
Latin America
Middle East
Other Africa, Asia, and Pacific
D
Suppressed to avoid disclosure of data of individual U.S. affiliates.
Mining
Petroleum
Manufacturing
Transportation,
communication,
and public
utilities
Wholesale
trade
Retail
trade
Finance, insurance, and real
estate
Other
26,512
427
6,354
8 242
347
4,153
425
6,196
36
22, 175
426
4,662
7 498
292
3,781
340
4,862
31
516
2 042
189
995
4 398
4 359
5 137
3 629
168
124
21
85
5 177
16 847
14 133
1 145
1 562
4 704
5 714
1 008
2 714
2 002
(D)
D
D
D
)
p
p
(D)
711
131
20
4,337
1
2 438
1 768
oo
130
1
3,726
3,371
3
—252
319
—78
38
o
1
13
38
1 692
744
55
372
85
1,334
737
2
6
41
347
7
17
80
1
4
1,104
(D^
p)
p)
p)
1,213
217
p)
5
1
p)
97
P)
262
(D)
o
o
o
(D)
2 710
2 056
317
517
295
643
285
654
299
355
p)
D)
1 804
38
(D)
1 573
(D)
232
811
579
p)
202
(D)
1 507
1 245
(D)
(D)
17
19
44
/m
4
D
p\
1
*
373
159
747
10
1,623
470
355
312
43
p)
p)
10
-8
P)
1
-69
170
60
5
(D)
P)
P)
SUEVEY OF CURRENT BUSINESS
40
the change in foreign parents' net
position in those affiliates. Reinvested
earnings are foreign parents7 shares
in the undistributed earnings of their
directly held incorporated affiliates.
Valuation adjustments are differences
between opening and closing balances
for the direct investment position on
the books of the U.S. affiliates that are
not acccunted for by net capital inflows and reinvested earnings.
In 1974, the net capital inflows of
$3.8 billion consisted of net equity
transactions of $2.4 billion and net
intercompany loans to incorporated
affiliates of $1.6 billion, partly offset
by net capital outflows of $0.2 billion
from unincorporated affiliates to foreign
parents.
Net capital inflows were largest
from Canada and European countries,
particularly Germany, Switzerland, and
the Netherlands. Those from the United
Kingdom to incorporated affiliates were
offset by large net capital outflows
from unincorporated affiliates, primarily
insurance company branches. Capital
inflows of $0.7 billion from Japanese
parents were offset by outflows of $0.6
billion—for loans (affiliates' receivables)—to Japanese parents. The most
significant liquidation of equity investment was by the Netherlands Antilles.
By industry, net capital inflows were
largest for affiliates in wholesale trade
and in finance, insurance, and real
estate. There were significant shortterm intercompany loans to affiliates in
wholesale trade of motor vehicles; this
possibly reflected a buildup of payables
to finance affiliates' inventory accumulation. There was a significant increase
in equity investment in holding company affiliates, including capital provided by foreign parents to finance their
U.S. affiliates' acquisitions of other U.S.
companies.
Reinvested earnings were accounted
for largely by the Middle East, the
United Kingdom, Canada, and Latin
America. For some countries, such as
Japan and Germany, reinvested earnings were negative because dividends to
foreign parents exceeded the parents'
shares in affiliates' current-year earnings. In some cases, affiliates may have
had net losses but continued to pay
dividends. Negative reinvested earnings
May 1976
were largest for affiliates in finance,
insurance, and real estate. Insurance
company affiliates had substantial unrealized losses that were attributable to
the decline in the value of their investment portfolios; such unrealized losses
were charged directly against revenues,
rather than against retained earnings.
Adjusted earnings and related items
Earnings represent the foreign parents' shares in the net income (after
taxes) of their U.S. affiliates.4 Adjusted
earnings measure the foreign parents'
return on their direct investment in
U.S. affiliates. Because the direct investment position includes loan capital
in addition to equity investment, adjusted earnings include net interest
paid to foreign parents on the loan
capital. Inasmuch as adjusted earnings
focus on earnings realized by foreign
parents, adjusted earnings are net of
U.S. withholding taxes on both dividends and interest. In sum, adjusted
4. See footnote 7.
Table 3.—Addition to the Foreign Direct Investment Position in the United States, 1974,
by Country and by Industry of U.S. Affiliate
[Millions of dollars]
1974 addition
1973
position
Total
Total
Net
capital
inflows
Rein- Valuation
adjustvested
earnings ments !
1974
position
21,420
5,092
3,779
1,551
-238
26,512
18,252
3,923
3,171
898
-146
22,175
4,301
876
604
243
29
5,177
13, 848
11,872
845
985
4,023
5,336
684
1,975
1,435
541
2,999
2,261
300
577
681
378
324
739
567
172
2,480
1,782
239
579
476
229
258
699
543
157
674
629
87
-12
165
309
81
46
21
24
-155
-150
-26
10
40
-160
-15
-6
3
-9
16,847
14, 133
1, 145
1,562
4,704
5,714
1,008
2,714
2,002
711
131
By country:
Developed countries
Canada
Europe
European Economic Community
France.. . .
.
Germany
Netherlands _.
United Kingdom
.
Other
.
Other Europe
Switzerland
Other
_. .
Japan..
76
55
93
-21
-17
Australia, New Zealand, and South Africa
27
-7
-5
1
-3
20
3,170
1,167
607
653
-93
4,337
2,082
991
97
356
777
33
185
380
43
215
450
-12
-44
-53
2
2,438
1,768
130
5,015
6,981
2,695
5,407
1,321
1,339
1,261
1,458
789
246
353
837
1,342
1,000
247
1,025
453
119
-60
14
-39
-28
-3
-151
-15
6,354
8,242
4,153
6,196
1,567
Developing countries
Latin America. .
.
Middle East
Other Africa, Asia, and Pacific
By industry of U.S. affiliate:
Petroleum
.
M anufacturing
Wholesale trade
Finance, insurance, and real estate
Other
. . .
_
1. Consist of the differences between opening and closing position balances, on the books of the U.S. affiliates, that are
not accounted for by net capital inflows and reinvested earnings.
SURVEY OF CURRENT BUSINESS
May 1976
earnings are equal to earnings, plus
interest paid to foreign parents, minus
withholding taxes on dividends and
interest.
The portion of adjusted earnings that
is distributed to foreign parents is
recorded in the U.S. balance of payments accounts as income paid to
foreigners on their direct investments
in the United States; the portion that is
reinvested by incorporated U.S. affiliates does not enter the U.S. balance
of payments accounts, but is recorded
as an addition to the foreign direct investment position. In the U.S. balance
of payments accounts, the foreign
parent's shares in the earnings of unincorporated affiliates (primarily branches)
are considered to be remitted to foreign
parents in the period earned; any
portion of the earnings not actually
remitted is entered as an offsetting
capital inflow.
Adjusted earnings were $6.6 billion,
compared with earnings of $6.7 billion
(table 4). The small difference was
mainly due to withholding taxes on
dividends and interest. Although, in
the aggregate, $222 million in interest
payments to parents were nearly offset
by $218 million in receipts from parents,
differences by industry and by country
were substantial. For example, adjusted earnings on investments in
manufacturing exceeded earnings by
one-tenth, largely because of sizable
interest payments by United Kingdom
and Swiss affiliates. The large differences in wholesale trade and in
finance, insurance, and real estate
resulted from substantial receipts from
Japan.
More than three-quarters of the $6.6
billion adjusted earnings was accounted
for by the government of the Middle
East country mentioned previously.
Adjusted earnings on European investments were $0.9 billion. Nearly
two-thirds was accounted for by the
Netherlands and the United Kingdom.
The Netherlands earnings of $0.3 billion
were accounted for by affiliates in
petroleum; there were partly offsetting
losses by finance, insurance, and real
estate affiliates. Affiliates in manufacturing and peti oleum more than
accounted for total United Kingdom
earnings of $0.2 billion; losses of
insurance branches were partial offsets.
Adjusted earnings on Canadian investments were $0.3 billion. Nearly
one-half was from investments in manufacturing; the remainder was spread
among affiliates in wholesale trade,
Table 4.—Adjusted Earnings and Related Items, 1974, by Country and by Industry of
U.S. Affiliate
[Millions of dollars]
Adjusted
earnings
Total
Balance of payments income
Earnings
6 643
5 091
6 685
By country :
1 130
232
1 181
Canada
328
85
322
Europe
European Economic Community. ,
France
Germany
.. ... .
_
Netherlands
United Kingdom
....,_
Other _ . - - Other Europe
.
... - .
Switzerland
Other
891
753
116
5
312
233
86
138
108
30
217
125
17
148
—76
6
92
86
7
825
727
114
9
313
204
86
98
68
30
Japan
—79
—59
43
Australia, New Zealand, and South Africa
— 10
— 11
-9
5 513
4 860
5,505
290
5 208
15
75
4 758
27
289
5,202
14
5 857
764
98
-176
100
4 832
311
—21
-115
85
5,920
700
186
-216
95
Developed countries
Developing countries
Latin America
Middle East .
Other Africa, Asia, and Pacific
.
29
By industry of U.S. affiliate:
Petroleum
Manufacturing
Wholesale tradeFinance, insurance, and real estate
Other
- -
41
petroleum, and finance, insurance, and
real estate.
In contrast to European and Canadian investments, Japanese investments
in the United States registered a loss of
$0.1 billion. This was due to unusually
large interest receipts—which reduce
adjusted earnings—from Japanese parents by affiliates in wholesale trade and
in finance, insurance, and real estate.
Adjusted earnings on Latin American
investments were $0.3 billion. More
than two-thirds was accounted for by
investors (mostly holding companies)
in the Netherlands Antilles, Bermuda,
and Panama. By industry, nearly onehalf was in manufacturing, particularly
chemicals and primary and fabricated
metals, and about one-third in finance,
insurance, and real estate.
Balance of payments income of
foreign parents was $5.1 billion. This
reflects $5.2 billion in dividends, unincorporated affiliates' losses of $0.2
billion, and insignificant net interest
payments. Most of the income payments went to the previously mentioned
Middle East country. Payments to
other countries combined were approximately $0.3 billion, nearly two-thirds of
which went to the Netherlands and
Switzerland.
Fees and royalties
Fees and royalties are net payments
by U.S. affiliates to their foreign parents
for professional, administrative, and
management services and for the use of
tangible and intangible property or
rights (mainly patents, techniques,
trademarks, and copyrights).
Net payments of fees and royalties
were $198 million; $331 million in receipts from foreign parents was netted
against $529 million in payments to
foreign parents. Swiss and United Kingdom affiliates had the largest net payments, $154 million and $97 million,
respectively. Japanese affiliates had the
largest net receipts, $61 million. By
industry, net payments were concentrated in manufacturing.
MERCHANDISE TRADE
Affiliate trade refers to the physical
movement of goods between the United
SUEVEY OF CURRENT BUSINESS
42
May 1976
States and foreign countries, rather
Comparison between total U.S. trade grown, mined, or manufactured; the
than to changes in the ownership of and affiliate trade may be affected by country to or from which the goods
goods. For example, if the title to goods differences in valuation, timing, and were shipped is used only when the
is transferred by a U.S. affiliate to its coverage because of different data col- country of ultimate destination or
foreign parent, but the goods remain lection methods for the two series. origin is unknown. In contrast, U.S.
in the United States, no export should Affiliate data are based on entries on affiliate data primarily reflect country
be reported. Similarly, if a U.S. affiliate affiliates7 books; in contrast, total U.S. of shipment or country of purchase or
takes title to goods located outside trade data, as compiled by the Census sale as recorded on the affiliates' books.
the United States and then transfers Bureau, are derived from export and
title to a foreign person, without the import documents for each trade trans- Affiliate share of total U.S. trade
goods having actually entered or left action. Additionally, the classification
Affiliates accounted for a substantial
the United States, no export or import of trade by country of destination or proportion of total U.S. trade in 1974—
should be reported. However, some U.S. origin may differ between the two series.
$24.2 billion, or 24 percent, of total
affiliates may have reported changes in In the Census data, exports are classiU.S. exports and $30.5 billion, or 30
ownership rather than the physical fied to the extent possible by country
percent,
of total U.S. imports (table
movement of goods between the United of ultimate destination (i.e., the coun5
States and foreign countries. In addi- try where the goods are to be consumed, 5). U.S. affiliates had a trade deficit of
tion, some may have reported contracts further processed, or manufactured) $6.3 billion, compared with the U.S.
concluded or orders for goods placed in and imports are classified by the total of $1.7 billion. Both deficits
country where the merchandise was reflected the high level of world petro1974 instead of actual shipments.
Table 5.—U.S. Merchandise Trade of U.S. Affiliates Compared With Total U.S. Merchandise Trade, 1974, hy Commodity and by Country
of Destination, or Origin
[Millions of dollars or percent]
U.S. exports J
Total 2
Total
By U.S.
affiliates
U.S. imports
U.S. affiliates
as percentage
of total
Total 2
By U.S.
affiliates
U.S. affiliates
as percentage
of total
98,507
24,158
24.5
100,251
30,486
15,233
10,934
792
8,819
23,688
7,878
6,623
5,725
10,790
6,662
1,363
12,117
4,012
368
1,299
1,699
30
192
1,215
921
2,305
n.a.
79.5
36.7
46.5
14.7
7.2
.4
2.9
21.2
8.5
34.6
n.a.
10,708
6,071
24,288
4,018
11,610
11,433
1,018
11,113
16,034
3,960
n.a.
3,118
2,211
3,180
1,243
2,977
7,051
317
5,478
2,923
1,989
n.a.
29.1
36.4
13.1
30.9
25.6
61.7
31.1
49.3
18.2
50.2
n.a.
64,458
18,515
18.7
60,682
24,368
40.2
7,197
5,043
305
1,865
1,407
834
632
2,153
106
2,047
4.7
23.9
22.8
10.4
37.4
35.4
18.2
11.3
26.9
9.2
29.8
21,928
24,415
19,035
2,257
6,325
1,429
4,063
4,961
5,380
892
4,488
3,163
10,013
8.491
909
4,222
431
1,448
1,480
1,522
383
1,139
14.4
41.0
44.6
40.3
66.8
30.2
35.6
29.8
28.3
42.9
25.4
10,678
10,077
94.4
12,338
10,583
85.8
3,769
302
8.0
2,001
33,498
5,643
16.8
39,556
6,118
15.5
15,804
5', 102
12,592
2,039
599
3,005
12.9
11.7
23.9
18,400
4,670
16,486
2,478
1,096
2,544
13.5
23.5
15.4
By commodity:3
Food, beverages, and tobacco (SITC 0-1)
Inedible crude materials, except fuels (SITC 2)
Petroleum and products, excluding natural gas (SITC 33)
Chemicals (SITC 5)
Machinery, electrical and nonelectrical (SITC 71-72)
Road motor vehicles (SITC 732)
Other transportation equipment (SITC 73, excluding 732)
Metal manufactures (SITC 67,68,69)
Other manufactures (SITC 61-66, 8)
Exports or imports, n.e.c. (SITC 3, excluding 32; 4; 9)
Reexports
- - _
...
...
. . ...
..
...
By country of destination or origin:
Developed countries
Canada
Europe
European Economic Community
France
Germany
Netherlands
United Kingdom
Other
Other Europe
Switzerland
.
Other
.
...
_.
. ..
Japan
Australia, New Zealand, and South Africa
Developing countries
Latin America
Middle East
Other Africa, Asia, and Pacific
... .
. ~
'..'..'..'.
.""
.'..".""."."."."....
Unidentified countries
N.A. Not applicable.
1. U.S. exports are valued f.a.s. at the U.S. port of exportation; U.S. imports are valued f.a.s.
at the foreign port of exportation.
2. Total U.S. exports and imports are on a Census basis, which includes military trade of
U.S. defense agencies. Data for U.S. exports are from the U.S. Department of Commerce,
Bureau of the Census, Highlights of U.S. Export and Import Trade (FT990), December 1975.
Data for U.S. imports are from the December 1974 issue of the FT990, except that (unpublished) revisions made by the Census Bureau in June 1975 have been incorporated.
19,936
30,075
22,068
2,942
4,985
3 979
4,574
5,589
8,008
1 150
6,858
552
30.4
15
3. Commodity classifications for the U.S. affiliate trade data are adapted from the Standard
International Trade Classification, Revised (SITC), as given in United Nations Statistical
Papers, Series M, No. S4, 1961. Total U.S. trade data are classified according to Schedule B
(for exports) and Schedule A (for imports), which are U.S. classification schedules based on
the SITC.
SURVEY OF CURRENT BUSINESS
May 1976
leum prices, which had tripled from
1973 to 1974. Excluding petroleum, the
total U.S. trade balance was in substantial surplus and the affiliate trade
deficit was only $3.5 billion.
By commodity, affiliates accounted
for a large share—nearly 80 percent—
of total U.S. exports of food, beverages,
and tobacco, mainly due to substantial
shipments of grain. They also accounted
for sizable shares of total U.S. exports
of industrial supplies and materials—
5. Exports and imports presented here are valued free
alongside ship (f.a.s.) at the port of exportation. Data for
total U.S. trade are on a Census basis, which includes
military trade of U.S. defense agencies. For total U.S. trade,
the Census basis is the only one for which a commodity
breakdown and a sufficiently detailed country breakdown
are available for comparison with affiliate trade. The affiliate
trade data, however, are more comparable conceptually to
total U.S. trade data on a balance of payments basis, which
are derived from Census Bureau statistics but exclude
military trade of U.S. defense agencies and reflect adjustments for timing, coverage, and valuation. Affiliates accounted for 25 percent of total U.S. exports and 29 percent of
total U.S. imports on a balance of payments basis in 1974—
virtually the same percentages as on the Census basis.
inedible crude materials, except fuels;
petroleum and products; and exports,
not elsewhere classified (n.e.c.). The
latter category consists largely of mineral fuels other than petroleum, such
as coal, coke, and natural gas.
Exports of manufactured goods by
affiliates were small in relation to total
U.S. exports of these goods. This reflects
the fact that manufacturing affiliates
produce mainly for the U.S. market,
rather than for export. Their exports
were only 6 percent of their total sales.
Imports by U.S. affiliates accounted
for significant proportions of total U.S.
imports of road motor vehicles (62
percent) and metal manufactures (49
percent) but only 13 percent of total
U.S. petroleum imports. Most imports
of road motor vehicles were by wholesale trade affiliates from their parents
in Japan and Germany.
By area of destination or origin, U.S.
affiliates dominated U.S. trade with
43
Japan. They accounted for 94 percent
of total U.S. export and 86 percent of
total U.S. import trade with that country. A large part of this affiliate trade—
85 percent of exports and 50 percent of
imports—was, in turn, accounted for
by U.S. affiliates of Japanese trading
companies, most of which are classified
in the wholesale trade industry. They
primarily export U.S. materials to
Japan, and market Japanese products
in the United States.
U.S. affiliates accounted for 37 percent of total U.S. exports to Germany
and 35 percent of total U.S. exports
to the Netherlands. Affiliates were
major importers from Germany, Switzerland, and France, accounting for
67, 43, and 40 percent of total U.S.
imports from these countries.
Affiliate
trade by industry
Wholesale trade affiliates accounted
for $19.2 billion, or 79 percent, of
Table 6.—U.S. Merchandise Trade of U.S. Affiliates, 1974, Industry, of Affiliate by Commodity and by Country of Destination or Origin
[Millions of dollars]
U.S. exports by U.S. affiliates »
Of which, by affiliates in:
Total
Total
24,158
U.S. imports by U.S. affiliates 1
Of which, by affiliates in:
Total
Petroleum
Manufacturing
Wholesale trade
2,121
2,026
19, 173
97
64
11,314
Petroleum
Manufacturing
Wholesale trade
30,486
4,585
3,059
22,334
3,118
2,211
3,180
1,243
374
3,096
124
356
178
22
425
617
833
433
155
2,479
1,642
56
651
2,258
6,988
255
4,206
2,178
1,623
19,293
By commodity:2
Food, beverages, and tobacco
Inedible crude materials, except fuels
Petroleum and products, excluding natural gas
Chemicals
Machinery, electrical and nonelectrical
Road motor vehicles
Other transportation equipment
Metal manufactures
Other manufactures
Exports or imports, n.e.c
12,117
4,012
368
1,299
1,699
30
192
1,215
921
2,305
194
27
366
465
170
3,331
227
539
1,009
17
89
605
344
1,698
1,678
1,478
14,678
24,368
1,857
2,775
394
225
3,163
623
872
1,585
783
650
100
115
45
306
83
133
37
97
5,769
3,822
145
1,638
1,084
443
513
1,947
61
1,886
10,013
8,491
909
4,222
431
1,448
1,480
1,522
383
1,139
200
180
6
6
1,576
1,302
178
446
274
115
159
7,976
6,785
659
3,720
233
885
1,289
1,191
252
939
203
8,526
10,583
1,025
192
9,283
99
157
609
11
135
449
3,041
1,401
82
1,558
128
273
195
3
76
377
442
2,977
7,051
317
5,478
2,923
1,989
By country of destination or origin:
Developed countries
18,515
C anada
939
Europe
European Economic Community
France
Germany
Netherlands
United Kingdom
Other
Other Europe
Switzerland
Other
Japan
Developing countries
Latin America
Middle East
Other Africa, Asia, and Pacific
366
329
190
48
' 36
2
34
10,077
Australia, New Zealand, and South Africa
"Less than $500,000 (±).
affiliates.
7,197
5,043
305
1,865
1,407
834
632
2,153
106
2,047
D
470
18
20
(*)
19
302
30
5,643
443
547
4,495
6,118
2,727
283
70
207
342
55
150
1,455
430
2,610
2,478
892
1,005
830
148
8
128
2,039
599
3,005
Suppressed to avoid disclosure of data of individual U.S.
1,096
2,544
1. See table 5, footnote 1.
2. See table 5, stub and footnote 3.
SUEVEY OF CUEEENT BUSINESS
44
May 1976
affiliate exports and $22.3 billion, or mainly for their foreign parents. In the
73 percent, of affiliate imports in 1974 case of imports, however, the foreign
(table 6). Comparable figures for petro- parents may have acted as intermedileum affiliates are 9 and 15 percent, aries; they may have purchased goods
and for manufacturing affiliates, 8 and from other foreign persons and then
shipped these goods to their U.S.
10 percent.
The dominance of wholesale trade affiliates for resale in the United States.
affiliates is reflected in every commodity
Since affiliates classified in wholesale
group shown in table 6. Their shares trade are engaged only to a minor exof affiliate exports of food, fuels, tent, if at all, in production, they priand other crude materials were par- marily export goods that they do not
ticularly large; their shares of imports produce. This was especially true of
in every commodity group except exports to foreign parents, over 90
petroleum and products were also percent of which were others' products.
substantial. Virtually all affiliate imWholesale trade affiliates of Japanese
ports of road motor vehicles were by parents had exports of $8.9 billion
wholesale trade affiliates.
and imports of $10.1 billion. Thus, they
By area of destination or origin, accounted for nearly half of the exports
wholesale trade affiliates accounted and imports by all wholesale trade
for about one-half or more of affiliate affiliates. Most of the U.S. trade of
trade with every area shown in the Japanese-owned wholesale trade affilitable, except Canada (for exports) ates was with Japan, mainly with their
and the Middle East (for imports). foreign parents.
Wholesale trade affiliates shipped
47 percent of their exports to their
FINANCIAL AND
foreign parents; they received 72 perOPERATING DATA
cent of their imports from foreign
parents (table 7). Thus, they were purThis section summarizes the financial
chasers in the United States for both
their foreign parents and other foreign and operating data of U.S. affiliates,
persons, whereas they were sellers including balance sheets, sources and
applications of funds statements, income statements, and related data.
Balance sheet
Total assets of U.S. affiliates were
$174.3 billion at yearend 1974 (table
8). Nearly one-half was assets of
affiliates in finance, insurance, and
real estate, primarily banks. The petroleum, manufacturing, and wholesale
trade industries each accounted for
approximately 15 percent of affiliates'
total assets.
Assets (and combined liabilities and
net worth) are duplicated to the extent
that there are intercompany investments between a U.S. affiliate and its
U.S. parent or between a U.S. affiliate
and other U.S. affiliates of the same
foreign parent. Estimates of the duplication can be obtained either from
affiliates' assets or from affiliates' combined liabilities and net worth. However, the estimates from these two
sources differ because of different valuations on the books of the owned and
the owning affiliates. The duplication,
estimated from the asset side of affiliates' balance sheets, amounted to
$13.6 billion, about 8 percent of
affiliates' total assets.
Table 7.—U.S. Merchandise Trade of U.S. Wholesale Trade Affiliates, 1974, by Commodity and by Country of Destination or Origin
[(Millions of dollars)]
U.S. imports by U.S. affiliates 1
U.S. exports by U.S. affiliates »
Total
Total
...
By commodity : 2
Food, beverages, and tobacco
Inedible crude materials, except fuels
Petroleum and products, excluding natural gas
Chemicals
.. _ ... .
Machinery, electrical and nonelectrical
Road motor vehicles
Other transportation equipment..
Metal manufactures
Other manufactures
Exports or imports, n.e.c
By country of destination or origin:
Developed countries
Canada
Europe
European Economic Community. .. .
France
Germany
Netherlands
United Kingdom
Other...
Other Europe
Switzerland
Other . .
Japan
.
Australia, New Zeland, and South Africa
Developing countries
Latin America.
Middle East
.
Other Africa, Asia, and Pacific
.. . _.
.... . .
*Less
than $500,000 (db).
D
Suppressed to avoid disclosure of data of individual U.S. affiliates.
To foreign parent and other
members of affiliated foreign
group
Total
From foreign
parent and
other members
of affiliated
foreign group
From
other
foreign
persons
22,334
16,071
6,264
(D)
996
113
354
539
4
(D)
387
112
1,027
2,479
1,642
56
651
2,258
6,988
(D)
792
748
19
388
2,045
2' 178
1,623
(D)
1,686
894
37
263
212
(D)
11
1,310
466
(D)
3,863
79
1,384
843
(D)
175
202
110
(D)
541
32
508
2,296
104
2,246
835
181
1,230
19,293
1,585
7,976
6,785
659
3,720
233
885
1,289
1,191
252
939
9,283
449
3,041
1,401
82
1,558
To other foreign persons
Total
U.S. affiliate's Others'
products
products
Total
U.S. affiliate's
products
Others'
products
19,173
8,997
769
8,228
10,176
(D)
(D)
11,314
3,331
227
539
1,009
17
89
605
344
1,698
4,873
2,287
114
177
433
12
71
194
217
619
486
182
0
2
21
1
4,387
2,104
114
175
412
11
(DD)
( )
201
(D)
6,442
1,044
113
362
576
5
17
411
127
1,079
(D)
14, 678
225
5,769
3,822
145
1,638
1,084
443
513
1,947
61
1,886
8,526
157
4,495
1,455
430
2,610
8,324
112
2,244
2,026
39
(DD)
( )
308
99
218
27
191
5,944
24
673
199
163
311
7,607
(D)
2,040
1,831
33
(DD)
( )
151
90
209
(DD)
( )
5,522
(D)
621
188
163
270
6,354
114
3,525
1,796
106
( DD )
( )
135
414
1,729
34
1,695
2,582
133
3,822
1,256
267
2,299
(DD )
( )
(D)
16
717
(D)
(DD)
( )
(DD)
( )
204
195
5
157
8
9
422
(D)
52
12
(*)
41
1. See table 5, footnote 1.
2. See table 5, stub and footnote 3.
(*)
(D)
(DD)
( )
(D)
49
0
8
37
24
15
52
2,491
35
2,141
953
24
136
1,188
2
1,186
286
29
1,576
421
86
1,069
244
2,896
1,712
15,488
1,314
6,653
5,826
538
3,320
175
757
1,038
827
171
655
7,260
261
583
(DD)
( )
284
3,806
270
1,323
959
121
400
59
129
250
364
81
283
2,024
188
2,458
(D)
(D)
1,274
SUEVEY OF CUEKENT BUSINESS
May 1976
Affiliates of European parents accounted for over one-half of affiliates'
total assets; in this group, the assets of
affiliates with parents in the United
Kingdom and the Netherlands were
the largest. Affiliates of Japanese
parents accounted for 22 percent of
total assets, the largest percentage for
any single country.
Net property, plant, and equipment
was 17 percent of affiliates' total
assets. The proportion was small because affiliates in finance, insurance,
and real estate 6 and in wholesale
trade accounted for over 60 percent of
affiliates' total assets, but in aggregate
held only 4 percent of their total assets
in property, plant, and equipment.
Affiliates in manufacturing held 34
percent and those in petroleum held
38 percent of their total assets in net
property, plant, and equipment.
45
Liabilities accounted for 77 percent
and net worth for 23 percent of combined liabilities and net worth. Liabilities were almost equally divided
between trade accounts and notes
payable, and all other liabilities combined. This distribution reflects, as
does the distribution of assets by
account, the influence of affiliates in
finance, insurance, and real estate and
in wholesale trade.
Relationship of the balance sheet to the
direct investment position.—Claims on
U.S. affiliates, that is, the sum of their
liabilities and net worth, are either by
foreign parents or by other persons. The
benchmark survey provided a breakdown of total claims by claimant
(table 9). Foreign parents' claims—
their equity in and their loans to their
affiliates—were $39.8 billion. To derive
the $26.5 billion foreign direct investment position in the United States,
these claims are adjusted to exclude
foreign parents' claims on U.S. bank
affiliates that do not represent perma-
6. The distribution of assets and liabilities by account is
particularly affected by the rules used to classify the assets
and liabilities of insurance and bank affiliates; these rules are
given in Annex B (form BE-12, page 9), Volume 2, Foreign
Direct Investment in the United States.
nent investment; such claims amounted
to $9.4 billion. Next, the claims of U.S.
affiliates on their foreign parents, which
amounted to $3.9 billion, are netted
against the adjusted claims of foreign
parents on their U.S. affiliates.
External financing.—Of affiliates' total liabilities and paid-in capital of
$156.3 billion, data by claimant are
available for $134.2 billion, consisting
of liabilities of $112.1 billion and paid-in
capital of $22.1 billion (table 10).
"Other U.S. persons," primarily
banks, accounted for the largest amount
of liabilities and paid-in capital. They
accounted for $79.0 billion of the amount
outstanding at yearend 1974. Foreign
parents accounted for $30.1 billion.
Of the $29.6 billion increase in liabilities and paid-in capital, $14.9 billion
came from "other U.S. persons," mostly
banks.
Sources and applications of funds
Total sources (which equal total
applications) of funds of U.S. affiliates
Table 8.—Balance Sheet of U.S. Affiliates at Yearend 1974, by Country and by Industry of U.S. Affiliate
[Millions of dollars]
Liabilities and net worth
Assets
Total assets =
liabilities and
net worth
(cols. 2+5 or
cols. 8+H)
(1)
Total
Liabilities
Noncurrent assets
Current assets
Total
Trade
accounts
receivable
Inventories,
cash, and
other
(2)
(3)
(4)
Net
worth
Total
Trade
accounts
and notes
payable
Longterm and
other
(7)
(8)
(9)
(10)
(11)
Total
Property,
plant, and
equipment,
net
All
other
(5)
(6)
174,272
111,995
58,272
53,723
62,277
29,366
32,911
134,165
66,157
68, 007
40,107
35,053
By country:
Developed countries
152,287
98, 924
49,837
49,086
53,363
26,214
27,150
117,233
60,948
56,285
Canada. .
23,856
12,955
7,180
5,775
10, 901
4,423
6,478
18,339
6,096
12, 242
5,517
Europe
European Economic Community
France
Germany _ _
Netherlands
_. .
United Kingdom
Other
Other Europe
Switzerland
Other
88,591
75,844
8,692
8,201
17, 323
32, 226
9,403
12, 747
9,541
3,206
50, 955
42,201
6,549
5,504
6,327
17,711
6,109
8,754
6,503
2,252
22, 022
17, 547
2,059
2,661
2,395
7,120
3,311
4,476
3,262
1,213
28, 933
24, 656
4,490
2,843
3,932
10, 591
2,799
4,279
3,241
1,037
37,636
33, 643
2,143
2,697
10,995
14, 515
3,294
3,993
3,038
954
20, 101
18,490
1,128
1,304
8,156
6,554
1,348
1,610
1,175
435
17,535
15, 152
1,014
1,392
2,840
7,961
1,944
2,383
1,863
519
61,411
51, 574
7,034
6,496
8,918
21,224
7,902
9,838
7,397
2,440
30, 940
25,673
3,849
4,367
2,307
10,624
4,528
5,266
3,952
1,315
30, 472
25,901
3,185
2,130
6,611
10,600
3,376
4,572
3,444
1,127
27, 180
24,270
1,658
1,705
8,405
11,002
1,501
2,909
2,144
765
Japan
39, 069
34,865
20,589
14,275
4,205
1,624
2,581
36,921
23,857
13,064
2,149
771
149
46
103
622
67
554
563
55
507
208
21,985
13,071
8,435
4,636
8,913
3,152
5,761
16,931
5,209
11,722
5,054
5,088
1,980
(D)
(D)
3,108
900
629
5,260
2,931
100
121
2,329
(D)
(D)
(D)
(D)
6,656
8,664
1,611
2,746
1,557
906
3,910
7,108
704
3,692
1,224
137
8,457
4,169
7,611
36,812
1,222
3,879
9,173
12, 121
26, 159
2,391
16, 163
12,870
4,135
21,786
7,322
10,940
8,965
1,513
3,277
4,671
5,223
3,906
2,622
18,509
2,649
17,990
14,752
19, 342
75, 012
7,069
2,861
4,225
11,412
46,093
1,567
15, 130
10,528
7,930
28,918
5,502
10,509
11,461
4,526
9,747
3,865
.
Australia, New Zealand, and South Africa .
Developing countries
Latin America
Middle East
Other Africa, Asia, and Pacific..-
10,348
9,888
1,748
(D)
(D)
28, 499
26, 213
23,868
84, 758
10,933
12,336
13,343
19,732
62, 972
3,612
By industry of U.S. affiliate:
Petroleum
M anuf acturing _
Wholesale trade
Finance, insurance, and real estate
Other
D Suppressed to avoid disclosure of data of individual U.S. affiliates.
SUKVEY OF CUREENT BUSINESS
46
Table 9.—U.S. Affiliates' Liabilities and Net Worth at Yearend 1974, by Claimant
[Millions of dollars]
Net worth
Total
Total
Other persons
-
Distributed by claimant
_ ._ _ -.
U.S. parents and U.S. affiliates of foreign parents
Other U.S. persons
Other foreign persons
- Undistributed by claimant
Retained
earnings
134, 165
22,134
39,845
17,207
12,936
9,702
30, 456
2
9, 389
8,296
8,911
12,458
478
9,702
0
134,427
116,959
9,198
8,271
104,077
13, 186
79,009
11,882
30,351
94,879
7,875
75, 270
11,
734
3
22, 080
9,198
5,311
3,739
148
0
n.a.
n.a.
n.a.
n.a.
8,271
1
_
Paid-in
capital
174,272
Foreign parents
In direct investment position
Not in direct investment position
Liabilities
17,973
n.a. Not available.
1. $30,456 million less affiliates' receivables from their foreign parents of $3,879 million and affiliates' equity in their
foreign parents of $64 million equals the direct investment position of $26,512 million.
2. Claims by foreign parents on U.S. bank affiliates that do not represent permanent investment.
3. "Other liabilities"; i.e., those not classified by maturity or due date and underlying minority interest that arises
out of consolidation of more than one U.S. affiliate.
were $56.2 billion in 1974 (table 11).
Increases in liabilities of $36.8 billion
accounted for 65 percent of total
sources. Net inccme after taxes of
$14.0 billion accounted for most of the
remainder. More than one-half—$29.1
billion—of affiliates' total applications
of funds increased current assets, primarily receivables. Property, plant,
and equipment expenditures were $7.7
billion, 14 percent of total applications.
Dividends and other net income remitted to U.S. and foreign owners were
$13.3 billion, or 24 percent.
The concentration on borrowing as
a source of funds, and on increases in
current assets as an application of
funds, largely reflects the pattern of
U.S. affiliates in wholesale trade and
in finance, insurance, and real estate,
because these two industry groups
accounted for a large part of the totals.
Together, affiliates in these two groups
raised over 90 percent of their funds
through increases in liabilities and used
more than three-quarters of their funds
to increase current assets.
Affiliates of Japanese parents raised
and used a very large amount of funds.
Because these affiliates are largely in
wholesale trade and in finance, insurance, and real estate, their pattern
also closely resembled the all-country
pattern.
The major share of the increase in
liabilities was to unaffiliated U.S.
lenders. Of the $36.8 billion increase,
the benchmark survey identified $27.0
billion by claimant, of which $15.9
billion was to unaffiliated U.S. lenders,
mainly banks. Bank affiliates accounted
for about half of the total $10.3 billion
increase in liabilities to these unaffiliated banks. Expenditures for prop-
May 1976
erty, plant, and equipment were primarily accounted for by affiliates of
European parents, particularly in the
United Kingdom and in the Netherlands. By industry of affiliate, these
expenditures were concentrated in petroleum and manufacturing.
Income statement
U.S. affiliates' total income was
$160.5 billion (table 12). U.S. affiliates
of foreign parents in developed countries had total income of $138.5 billion
and those of foreign parents in devel opling countries, $22.0 billion. More than
one-half of the latter was accounted
for by a large U.S. incorporated petroleum company's net income which was
derived from its foreign branch operations in the Middle East.
Sales were $146.8 billion, and income
from other sources, $13.7 billion. Included in other income was $0.2 billion
of U.S. affiliates' equity in the net
income of other U.S. affiliates. Since
these other affiliates also reported their
income in the benchmark survey, total
income is overstated by this amount.
Wholesale trade affiliates had sales
of $66.5 billion; about 70 percent was
by affiliates engaged in selling farmproduct raw materials, metals and
minerals, and motor vehicles. European-owned wholesale trade affiliates
had sales of $30.2 billion; particularly
lurge were those by affiliates of parents
in France ($9.4 billion), the United
Kingdom ($8.6 billion), and Germany
($5.7 billion). Japanese-owned wholesale trade affiliates had sales of $27.1
Table 10.—U.S. Affiliates' Liabilities and Paid-in Capital, by Claimant, 1974 Yearend and Net Change
[Millions of dollars]
Liabilities
Total
Total
1974 yearend, total
1974 net change, total
Foreign parents
U.S. parents and U.S. affiliates of foreign parents
Other U.S. persons
Other foreign persons
..
. .
Total
Current
Long-term
2
50, 840
44,441
6,399
61,244
46, 778
14,466
30, 143
13 186
79 009
11,882
17, 207
7 875
75 270
11,734
8,398
3 555
32 187
6,701
8,193
3 375
26, 968
5,905
205
180
5,219
796
8,809
4,320
43,083
5,033
6,128
2,577
33, 468
4,605
2,681
1,743
9,615
428
12,936
5,311
3,739
148
29,555
3 26, 994
15, 594
13,962
1,632
11,400
9,271
2,129
42,560
6,586
3,792
14, 921
4 256
4,370
2,504
15,864
4 257
1,634
1,189
10, 253
2 518
1,595
1,194
9,012
2,161
39
-5
1,241
357
2,736
1,315
5,611
1,739
2,085
882
4,568
1,736
651
433
1,043
3
2,216
1,288
-943
-1
1. Excludes $22,080 million in "other liabilities"; i.e., those not classified by maturity or
due date and underlying minority interest that arises out of consolidation of more than one
U.S. affiliate.
2. Equals $20,222 million paid-in capital of incorporated affiliates plus $1,912 million net
worth of unincorporated affiliates.
Long-term
112,084
134, 218
Foreign parents
.
.. . . . .
U.S. parents and U.S. affiliates of foreign parents
Other U.S. persons-Other foreign persons _ _ _ _ .
1
Current
Paid-in
capital
To others
To banks
Total
22, 134
3. Excludes $9,824 million change in "other liabilities" described in footnote 1.
4. Equals year-to-year change in balance sheet accounts described in footnote 2; therefore,
includes undistributed profits of unincorporated affiliates and change from stock dividends
of incorporated affiliates.
SURVEY OF CURKENT BUSINESS
May 1976
47
Table 11.—Sources and Applications of Funds of U.S. Affiliates, 1974, by Country and by Industry of U.S. Affiliate
[Millions of dollars]
Total
sources
Net
or
applica- income
after
tions
taxes
Sources of funds
Depreciation,
depletion,
amortization,
and
retirements
Sales of
property,
plant,
and
equipment
Applications of funds
Change
in
Change Other 2
in
owners'
sources
equity 1 liabilities
Change
in
current
assets
Property,
plant,
and
equipment
expenditures
Dividends
and other
income
remitted
to owners
Change in equity
investment in
affiliates and
other noncurrent
assets
56,242
13,980
2,504
361
3,586
36,819 -1,006
29,055
7,716
13,260
6,210
36,102
2,025
2,310
293
3,392
28,275
-193
22,869
6,881
1,422
4,931
4,049
514
303
41
634
2,617
-60
2,135
893
217
803
Europe
European Economic Community
France ... .
Germany..
Netherlands
United Kingdom
Other
Other Europe
. .
Switzerland
._
Other
20, 791
17, 244
2,508
2,941
3,687
5,813
2,294
3,547
3,113
434
1,395
1,292
243
67
-80
841
221
103
94
10
1,903
1,730
108
229
206
11
15
63
105
11
23
2,268
2,032
(D)
340
730
599
(D)
237
(DD)
( )
15, 127
12, 107
2,004
2,397
2,130
3,741
1,835
3,020
2,727
293
-131
-124
(DD)
(D)
( )
-123
(D)
-7
-1
-6
11,309
8,905
1,890
1,777
1,073
2,555
1,610
2,405
2,215
190
5,229
4,806
370
373
2,295
1,388
379
423
272
151
1,069
978
54
37
335
506
47
91
78
13
3,183
2,554
194
754
-16
1,365
258
629
550
81
Japan
11,110
49
(D)
(D)
(D)
10,466
-3
9,404
721
(D)
153
66
D
D
D
20
37
D
20,140
11,955
195
2,199
17,572
369
452
11,498
4
185
2
7
22,545
5,865
6,958
18, 545
2,329
12,997
677
453
-547
400
963
904
139
129
370
Total
By country:
Developed countries
Canada
_
Australia, New Zealand, and South Africa .
Developing countries
Latin America _
Middle East
Other Africa, Asia, and Pacific
(D
)
(D)
(D)
650
170
117
52
( )
(DD)
( )
65
( )
( )
67
-813
6,187
836
1,391
6,814
338
(DD)
(D)
( )
1,114
(DD)
( )
720
61
54
9,118
3,409
5,693
17,432
1,166
-733
-105
(D)
-254
(D)
6,302
2,449
5,255
14,444
606
2,858
2,358
519
748
1,233
(D)
(DD)
65
(*)
2
(*)
8,543
193
( )
(D)
(D)
( )
1,280
11,838
D
D
( )
(D)
( )
(D)
11,671
u
By industry of U.S. affiliate:
Petroleum. . . .
Manufacturing:
Wholesale trade
Finance, insurance, and real estate
Other
95
909
(D)
1,681
(D)
107
72
22
103
56
*Less than $500,000 (±).
D Suppressed to avoid disclosure of data of individual U.S.
affiliates.
1. Equals change in capital stock and additional paid-in capital for incorporated affiliates
plus change in net worth, excluding undistributed profits, for unincorporated affiliates.
12,002
458
107
454
240
1,383
600
1,076
2,899
249
2. Consists of changes in incorporated affiliates' retained earnings other than the addition
of undistributed profits or changes from stock dividends.
Table 12.—Income Statement of U.S. Affiliates, 1974, by Country and by Industry of U.S. Affiliate
[Millions of dollars]
Costs and expenses
Income
Total ._
Total
Sales i
160, 476
146,771
Equity in
net income
of U.S.
affiliates
Other
Total
Cost of goods
sold and selling,
general, and
administrative
expenses
Income
taxes
Other
Net
income
after
tax
175
13, 530
146, 496
140, 132
2,346
4,018
13,980
20
1,874
136,481
130,760
2,009
3,712
2,025
( )
15, 791
14, 978
387
427
514
79, 926
69,122
12, 742
8,780
16, 881
27, 033
3,686
10,804
7,248
3,555
75, 712
65,332
12, 413
8,563
15,493
25, 319
3,544
10,381
6,958
3,423
1,440
1,333
147
74
514
553
44
107
78
30
2,772
2,457
181
143
874
1,160
98
315
212
103
1,395
1,292
243
67
-80
841
221
103
94
10
40, 489
39, 808
178
502
49
276
262
3
10
66
By country:
Developed countries .
138,506
136, 612
.. _. .. ..
16, 305
15, 934
Europe
..
...
European Economic Community
France
Germany
__ . .
Netherlands
United Kingdom
Other
Other Europe
. . .
Switzerland
Other
81, 321
70, 414
12, 985
8,847
16, 802
27, 874
3,907
10, 907
7,341
3,566
80, 311
69, 552
12, 796
8,727
17, 106
27, 138
3,784
10, 759
7,230
3,530
(D)
-466
286
(D)
12
21
-9
1,041
905
147
(D)
162
449
(D)
136
91
45
Japan
40, 538
40, 106
(D)
(D)
D
D
Canada
..
....
Australia, New Zealand, and South Africa ... .... . .
Developing countries
... .
Latin America
Middle East
Other Africa, Asia, and Pacific.
D
D
( )
-31
-43
41
342
261
21, 970
10, 159
155
11,656
10,015
9,371
337
307
11,955
9,759
11,832
379
9,453
335
371
155
151
11,497
7
9,307
334
375
8,720
299
352
321
7
9
266
28
13
452
11,498
4
38,345
31, 751
67, 101
11,615
11,664
26,350
31,301
66, 499
11, 259
11, 364
124
69
35
-81
28
11,871
382
568
438
272
25,348
31,074
66,648
12, 161
11,264
24,344
28, 780
65, 656
10,629
10,723
542
1,027
408
151
217
462
1,267
585
1,381
324
12, 997
677
453
-547
400
( )
( )
(*)
(*)
By industry of U.S. affiliate:
Petroleum
..
Manufacturing...
.
Wholesale trade
Finance, insurance, and real estate
Other....
*Less than $500,000 (±).
affiliates.
D Suppressed to avoid disclosure of data of individual U.S.
1. Excludes returns, discounts, allowances, and sales and excise taxes.
48
billion, about 40 percent of the industry
total. These consisted largely of metals
and minerals, farm-product raw materials, and petroleum and related
products.
Sales by manufacturing affiliates were
$31.3 billion; sales by affiliates in
chemicals, primary and fabricated
metals, food products, and machinery
were especially large. Chemical affiliate
sales of $8.0 billion were about evenly
divided among affiliates of parents in
the United Kingdom, Germany, the
Netherlands, Switzerland, and the
Netherlands Antilles. In metals, sales
by affiliates of United Kingdom and
Canadian parents predominated. In
food products, affiliates of Swiss, Canadian, and United Kingdom parents
accounted for nearly three-quarters of
sales. In machinery, sales by Canadianowned affiliates were particularly large.
Sales by affiliates in the petroleum
industry were $26.4 billion, mainly by
affiliates of the Netherlands, Japan, and
the United Kingdom. Affiliates in
finance, insurance, and real estate had
sales (gross operating revenues) of $11.3
billion, mostly from banking and insurance operations. United Kingdomowned affiliates accounted for the
largest share of the revenues, followed
by Japanese- and Canadian-owned affiliates. Retail trade sales, which are
grouped in "other industries" in table
12, were $6.3 billion.
U.S. affiliates7 total costs and expenses were $146.5 billion, including
income taxes of $2.3 billion. Net income after tax—total income less total
costs and expenses—was $14.0 billion.7
More than 80 percent of net income
was accounted for by the U.S.incorporated
petroleum
company
previously mentioned. Affiliates of
European parents had net income of
$1.4 billion, of which nearly two-thirds
was income of United Kingdom-owned
affiliates.
Employment, wages and salaries, and
gross property, plant, and equipment
by State
Table 13 shows employment, wages
7. Net income was to be reported on an all-inclusive basis,
including all capital gains and losses, realized and unrealized.
The data for affiliates carrying capital gains and losses
directly to the balance sheet were adjusted so that net income
of affiliates and the parents' share in that income; i.e., earnings, of all affiliates would be consistently defined.
SURVEY OF CURRENT BUSINESS
May 1976
Table 13.—Employment, Wages and Salaries, and Gross Property, Plant, and Equipment
of U.S. Affiliates, 1974, by State
Millions of dollars
Number of
employees
Wages and
salaries
Gross property, plant, and equipment 1
Total
Natural
resource
Industrial
Other
1,083,431
11,442
45,454
- -
61,503
611
1,701
(D)
748
(D)
-
20, 299
6,970
21,015
7,044
2,940
3,235
206
61
220
64
31
29
496
281
595
128
110
92
(D)
(D)
146
181
229
73
98
21
(D)
(D)
-
305,603
3,525
7,385
93
Delaware
District of Columbia
Maryland
New Jersey
New York
Pennsylvania
4,177
1,338
17, 610
79, 388
146, 642
56,448
65
16
177
969
1,747
552
454
52
604
2,256
2,724
1,295
0
0
0
1
32
60
.
206,720
2,196
6,448
(D)
3,509
(D)
822
248
436
427
263
2,011
655
1,494
1,648
640
D
4
1,187
250
543
1,336
193
(D)
...
71, 380
24,034
37,307
44, 297
29, 702
43, 118
490
2,622
704
990
7, 139
5,598
13,025
13, 729
2,178
1,143
306
80
62
154
156
22
14
3
329
328
1,093
654
94
109
17
224,397
2,074
10,360
Total
New England
Connecticut
Maine
Massachusetts
New HampshireRhode Island
Vermont
Mideast
. --. -
- . -_
Great Lakes
Illinois
Indiana
Michigan
Ohio
Wisconsin
Plains
- -
.-
Iowa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
...
---
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
-
-. ..
Southwest
11,519
10, 565
25, 326
22, 200
13, 627
19, 102
4,765
41,736
23, 318
21,713
21,107
9,419
101
74
217
197
135
223
35
371
223
186
201
112
645
163
904
639
427
2,616
330
1,297
1,437
736
637
528
64, 703
734
5,208
11,241
(D)
( )
D
( )
(D)
19,714
0
0
0
191
( )
1,604
773
858
38
4
1,865
6,090
24
153
328
117
188
358
280
1,059
30
1,108
1,203
644
408
367
2,447
1,543
n
( )
(D)
(D
)
(D)
(D)
D
(D
)
( )
60
33
26
D
(D
)
26
23
36
1,458
6,290
1,790
6,493
50, 130
38
18
66
613
295
311
585
4,016
18, 246
188
1,156
786
165
11, 538
1,773
710
2,719
1,506
127
13
7
24
16
448
35
153
298
221
263
77
140, 524
1,509
7,034
1,155
14
56
132
61
91
3,963
43
137
616
1,560
716
(D
)
(D)
-
104, 373
1,398
5,012
11,206
5,440
13,095
Puerto Rico
Other territories
and offshore
Foreign 2
10, 289
4,398
3,930
62
28
24
180
2,251
1,110
(D)
1,767
(D)
Arizona. _ . ..
New Mexico
Oklahoma
Texas
- - ..
.. ...
Rocky Mountains
Colorado
Idaho
_
Montana
Utah
Wyoming
-- - - -
Far West
California
Nevada
Oregon
Washington
Alaska
Hawaii
--
( )
(D)
(D
)
(D
)
(D
)
D
( )
349
(D)
(D)
2,161
25
25
803
11
13
71
3,272
(D
)
D
59
(D)
(D)
(D)
366
(D)
4,021
(D
)
(D
)
D
268
178
77
401
52
7
7
(*)
14,499
35
( )
(D)
653
1,919
377
(D)
(D)
(D
)
(D)
56
443
929
(DD)
61
90
( )
(D)
65
5
2,405
(D)
(D)
(D)
(D)
(D)
(D)
(D)
657
247
163
205
8
1,219
(D)
D
( )
(D)
200
204
(D
)
(D)
2,362
1,167
14
56
383
696
44
213
108
13
29
2,511
(D
)
(D)
(D)
(D)
55
208
61
660
61
D
"Less than $500,000(±).
Suppressed to avoid disclosure of data of individual U.S. affiliates.
1. Valued at historical gross cost at yearend 1974 and includes land held for resale.
2. Refers to employees of U.S. affiliates working abroad and their associated wages and salaries, and to property, plant,
and equipment carried on the books of U.S. affiliates but located abioad.
May 1976
and salaries, and gross property, plant,
and equipment of U.S. affiliates, by
State. These data are classified by the
State in which the U.S. affiliates' employees worked and were paid wages
and salaries, or where the affiliates'
property, plant, and equipment was
located, rather than by the State of
incorporation or head office of the U.S.
affiliate.
Employment and wages and salaries.—
U.S. affiliates employed 1,083,000 persons in 1974. Manufacturing accounted
for 51 percent and wholesale and retail
trade each, for 22 percent. About 5
percent of all employees were citizens
of foreign countries.
New York had the largest number
of employees of any State (147,000),
followed by California (104,000), New
Jersey (79,000), and Illinois (71,000).
Employment in New York was centered
in manufacturing, trade, and finance,
insurance, and real estate. In New
Jersey, employment was centered in
manufacturing.
Wages and salaries totaled $11,4
billion. Annual wages and salaries per
employee were highest in the Mideast
($11,500), and lowest in the Southeast
($9,200).
Gross property, plant, and equipment.—Property, plant, and equipment
by State is valued at historical gross
cost at yearend and includes land held
for resale by U.S. affiliates (table 13).
It differs from property, plant, and
equipment in the balance sheet (table
8) because the latter is shown net of
accumulated depreciation and excludes
land held for resale, which is classified
as a current asset.
Gross property, plant, and equipment is disaggregated into three categories: (1) natural resource-related assets, which include those used in
agricultural production and services,
timberland, and the extraction and
production of crude petroleum, natural
gas, and other minerals; (2) industrial
assets, including all facilities for manufacturing, processing, or assembling
goods; and (3) other assets, including
residential, recreational, and other business assets.
Gross property, plant, and equipment
was $45.5 billion. Of the total, 25
percent, or $11.2 billion, was in the
SUEVEY OF CUREENT BUSINESS
natural resource category; 43 percent,
or $19.7 billion, in the industrial
category; and 32 percent, or $14.5
billion, in the other category.
By State, Texas and California each
had $4.0 billion in gross property,
plant, and equipment, followed by
New York ($2.7 billion), Louisiana
($2.6 billion), and New Jersey ($2.3
billion). By region, the Southeast had
the largest amount ($10.4 billion).
Foreign ownership of assets in the
natural resource category was concentrated in three States—Texas, California, and Louisiana—and offshore,
and was primarily related to petroleum
and natural gas extraction. Assets in
the industrial category were less concentrated by State; more than $1.0
billion was located in each of eight
States.
Research and development
expenditures
Expenditures by U.S. affiliates for
research and development (E. & D.)
include all costs incurred—such as
depreciation, wages and salaries, taxes,
cost of materials and supplies, and
allocated overhead costs—for E. & D.
performed for their own benefit and
for others on contract.
49
E. & D. expenditures totaled $813
million (table 14). Manufacturing affiliates (mainly those in chemicals and
metals) accounted for about 70 percent
and petroleum and wholesale trade
affiliates for most of the remainder. By
country, expenditures by Europeanowned affiliates represented about
three-quarters of the total; those by
affiliates with Dutch, Swiss, and United
Kingdom parents were particularly
large.
Real Estate Activity
The benchmark survey shows 829
affiliates classified in real estate and
combined offices of real estate, insurance, loans, and law. The direct
investment position in these affiliates
was $0.8 billion. They had assets of
$4.2 billion and net property, plant,
and equipment of $2.6 billion. It should
be noted that real estate excludes
ownership and operation of hotels
and ownership of timberlands.
Affiliates owning or leasing land in
excess of the 200 acre exemption level
reported owning 4,896,000 acres of
land and leasing 62,805,000 acres; of
the leased acres, approximately onehalf was located abroad and a signif-
Table 14.—Expenditures by U.S. Affiliates
for Research and Development, 1974
[Millions of dollars]
Expenditures
Total
813
By country :
Developed countries
694
Canada
_ -
53
Europe
European Economic Community
France
Germany ..
. ... Netherlands
United Kingdom .
Other
Other Europe
... -.. - Switzerland
Other
611
456
14
46
285
107
4
155
140
15
. ._.
29
Australia, New Zealand, and South Africa .
Japan
. ...
.
(*)
119
Developing countries
Latin America... - - - - - - Middle East
Other Africa, Asia, and Pacific
.
-
117
1
2
By industry of U.S. affiliate:
Petroleum
Manufacturing
..
- ------ Wholesale trade
Finance, insurance, and real estate
Other
*Less than $500,000 (±).
111
574
78
10
40
50
SUEVEY OF CURRENT BUSINESS
icant proportion of the remainder
consisted of offshore mineral rights.
May 1976
position in the benchmark survey was in the addition of affiliates in which
$26.5 billion at yearend 1974, $4.8 Japanese parents, as a group, had a
billion higher than the previous esti- negative investment position in 1974.
mate. Net capital inflows in the bench- (This occurs when loans by affiliates
mark survey were $1.6 billion higher. to their parents exceed the parents'
Balance of payments income and ad- investment in the affiliates.)
justed earnings in the benchmark surThe direct investment position of,
vey were each $0.3 billion lower.
and transactions with U.S. affiliates by,
The benchmark survey data were foreign affiliates of foreign parents are
from approximately 7,200 reports, cov- more completely covered in the benchering over 10,200 U.S. business enter- mark survey than in the sample survey.
prises; the previous estimate was based Preliminary estimates indicate that foron a sample of approximately 450 eign affiliates of foreign parents acreports covering the largest foreign counted for $1.0 billion of the total
direct investments in the United States. direct investment position in the benchThe sample data were expanded to mark survey, significantly higher than
universe estimates by extrapolating in the previous estimate.
the universe of foreign direct investA significant proportion of the $1.6
ment in 1959, when the last benchmark billion higher net capital inflows resurvey was taken. Use of the outdated ported in the benchmark survey was
1959 benchmark probably resulted in also accounted for by the better covunderstatement of the unreported (non- erage of transactions between U.S. affilisample) portion of the 1974 estimate.
ates and foreign affiliates of foreign
Better coverage resulted in increases parents. The cross-checking which was
in the investment position for most possible in the benchmark survey to
areas and industries. One notable ex- ensure that transactions, particularly
ception was the Japanese direct invest- acquisitions of existing U.S. companies,
ment position, which was significantly were reported at market value rather
lower than the previous estimate. than at book value also resulted in
Increased coverage apparently resulted higher inflows. Better coverage of the
Comparison of Benchmark
Survey Data and Previously
Published Estimates
This section provides a preliminary
comparison of data collected in the 1974
benchmark survey with 1974 estimates
of foreign direct investment in the
United States previously published by
BEA8. The estimates, derived from
quarterly and annual sample data collected by BEA, cover the direct investment position, balance of payments
transactions other than merchandise
trade (net capital inflows, balance of
payments income, and fees and royalties), and the foreign parents' shares in
the adjusted earnings, earnings, and
reinvested earnings of their U.S.
affiliates.
Table 15 shows, for selected items,
the difference between benchmark survey data and previously published estimates. The total direct investment
8. See the October 1975 SURVEY OF CURRENT BUSINESS.
Table 15.—Foreign Direct Investment in the United States, Comparison of the Benchmark Survey Data and Previously Published
Estimates for 1974, Selected Items
[Millions of dollars]
Direct investment position
Benchmark
survey
data
Total
26,512
Previously
published
estimates
21,746
Difference
Benchmark
survey
data
4,766
3,779
Previously
published
estimates
2,224
Adjusted earnings
Balance of payments income
Net capital inflows
Difference
Benchmark
survey
data
1,555
5,091
Previously
published
estimates
5,435
Difference
-344
Benchmark
survey
data
6,643
Previously
published
data
6,989
Difference
-346
By country:
5,177
4,806
371
604
489
115
85
98
-13
328
402
-74
16,847
14, 133
703
1,145
1,562
216
4,704
5,714
89
2,714
478
2,002
233
14,098
11,547
693
726
1,076
113
2,771
6,126
41
2,550
354
2,103
93
2,749
2,586
10
419
486
103
1,933
-412
48
164
124
-101
140
2,480
1,782
181
239
579
64
476
229
13
699
84
543
73
1,250
1,073
9
137
267
10
294
348
8
177
57
121
-2
1,230
709
172
102
312
54
182
-119
5
522
27
422
75
217
125
4
29
17
1
148
-76
1
92
6
86
1
531
442
7
34
11
5
109
274
2
88
8
79
1
-314
-317
-3
-5
6
-4
39
-350
-1
4
-2
7
0
891
753
82
116
5
3
312
233
1
138
35
108
-5
1,132
882
83
92
27
4
75
603
-3
251
25
221
5
-241
-129
-1
24
-22
-1
237
-370
4
-113
10
-113
-10
131
480
-349
93
130
-37
-59
10
-69
-79
105
Latin America
2,438
548
1,890
185
45
140
75
34
40
290
126
164
Other
1,918
1,814
104
418
309
109
4,774
4,763
11
5,213
5,224
-11
426
5,928
10,305 -2,063
3,422
1,156
12,726 12,685
(0
0)
296
1,631
353
837
1,387
-451
1,212
441
649
1,010
164
111
114
176
-296
-173
1,223
-562
1,098
265
4,832
311
0
-467
327
90
4,874
332
10
20
168
31
-42
-21
-10
-487
159
59
5,857
764
111
-525
363
74
5,437
1,049
61
20
226
197
420
-285
50
-545
137
-123
Canada
Europe
European Economic Community .
Belgium and Luxembourg
France
G ermany
Italy
Netherlands
United Kingdom
Denmark and Ireland
Other Europe .
Sweden
Switzerland
Other
Japan.
...
-184
By industry of U.S. affiliate:
Petroleum
M anuf acturing _ .
Wholesale and retail trade. .
Insurance
.
Other finance 2
Other 2 .
6,354
8,242
4,578
'5,411
0)
1,927
1 "Other finance" is included in insurance.
2. Real estate is included in "other.'
May 1976
real estate and banking industries was
also a factor.
Change in definition
In the benchmark survey, a direct
investment ownership interest was defined as the direct or indirect foreign
ownership of at least 10 percent of the
voting stock of an incorporated U.S.
business enterprise or an equivalent interest in an unincorporated U.S. business enterprise. Previously, a 25 percent
level of ownership was the criterion. In
the benchmark survey data, affiliates
owned 10 to 24 percent by foreigners
accounted for $1.2 billion of the total
direct investment position.
In previous estimates, the parents'
shares in the earnings, adjusted earnings, and reinvested earnings of their
U.S. affiliates were defined to exclude
unrealized capital gains or losses. However, where possible, a valuation adjustment to the position was made at
the end of each year to reflect changes
in foreign parents' claims on U.S.
affiliates resulting from unrealized capital gains or losses. In the benchmark
survey, earnings-related items were
defined to include unrealized capital
gains or losses, and they affect the
position though changes in foreign
parents' claims on retained earnings of
incorporated affiliates or home office
accounts of unincorporated affiliates,
rather than through valuation adjustments.
Although this change applied to all
U.S. affiliates, its effect was greatest
on those in the insurance industry. A
significant proportion of the assets of
these affiliates was in the form of stockholdings in other U.S. companies.
Since U.S. stock prices declined substantially in 1974, insurance affiliates
had large unrealized losses. Thus, their
adjusted earnings, which include unrealized losses, were lower than the
previously published estimates.
Partly for the same reason, net
capital inflows and balance of payments
income of insurance affiliates were
SURVEY OF CURRENT BUSINESS
lower in the benchmark survey. Also,
these series reflected the reclassification of a number of insurance affiliates
from unincorporated to incorporated.
Benchmark survey data for the United
Kingdom, where many parents of insurance affiliates are located, were
significantly lower than previously published estimates.
Changes in classification
51
increase in the position for the Netherlands and the decrease in the position
for the United Kingdom also reflected
this reclassification.
Differences in the treatment of
primary U.S. affiliates that were holding
companies—and that owned secondary
U.S. affiliates in other industries—
affected the industry distribution of
the benchmark survey data, compared
with previously published estimates.
As a genera] rule, the previous estimates reflected the industry of the
secondary U.S. affiliate if the primary
U.S. affiliate that owned it was a holding company. In the benchmark survey
data, the industry of the primary U.S.
affiliate was used without exception.
Industry reclassification accounted, in
part, for the lower benchmark survey
position in manufacturing (the classification of many of the secondary U.S.
affiliates) and the higher position in
"insurance and other finance" (the
classification of primary U.S. affiliates
that were holding companies).
Changes in industry composition also
reflected differences in consolidation.
In some cases, U.S. affiliates in different industries were consolidated on
sample survey reports and were classified according to the dominant industry
of the consolidated entity, most often
manufacturing. Since consolidation
generally was not permitted in the
benchmark survey, the affiliates may
have been included in several different
industries.
Changes in the distribution of the
direct investment position (and related
data items) by country of foreign parent
partly reflected the definition of "foreign parent" used. In the benchmark
survey "foreign parent" was defined as
the first foreign person outside the
United States holding an ownership
interest in a U.S. affiliate. This "first"
foreign parent, in turn, may have been
owned by another person, and the
"ultimate" foreign parent may have
been in the same or a different country.
Benchmark survey data for the direct
investment position, related balance of
payments flows, and the foreign parent's
share of adjusted earnings, earnings,
and reinvested earnings, were consistently classified by the country of the
"first" foreign parent. In the previous
estimates, data for some affiliates, including those whose "first" foreign
parent was a holding company, were
classified by country of "ultimate" foreign parent. When the country of
"first" foreign parent and "ultimate"
foreign parent differed, the distribution
by country of the benchmark survey
Coverage of fees and royalties
data differed from that of the previous
In the benchmark survey, net payestimates.
The benchmark survey position for ments of fees and royalties were $198
Latin America was higher because, for million, compared with $219 million
tax purposes or reasons of convenience, in the previous estimates. They were
higher for the United Kingdom and
many "first" foreign parent holding
lower for Japan; both differences procompanies were located there. The bably reflected increased coverage. The
position for Switzerland was lower be- lower figure for Japan was due to
cause several large affiliates whose inclusion in the benchmark survey of
"ultimate" foreign parents were located several U.S. affiliates that had signifithere were reclassified to the countries cant net receipts of fees and royalties
of their "first" foreign parents. The from their Japanese parents.
52
May 1976
SUEVEY OF CURRENT BUSINESS
ERRATA
In tables 4-72 in the April 1976 SURVEY OF CURRENT BUSINESS (pp. 36-45) line 9
"Private" erroneously includes the "Farm" labor and proprietors' income shown on
line 7.
AREA ECONOMIC
PROJECTIONS 1990
Prepared by the
U.S. DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Available from the Superintendent of Documents,
U S Government Printing Office, Washington, D.C. 20402
Price $3.55. Make check payable to the Superintendent of Documents.
Order by Stock Number 0324-00490.
U. S. GOVERNMENT PRINTING OFFICE : 1976 O - 207-050
CURRENT BUSINESS STATISTICS
J.HE STATISTICS here update series published in the 1973 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (available from the Superintendent of Documents for $6.80) provides a description of each series, references
to sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1969 through 1972 (1962-72 for major quarterly
series), annually, 1947-72; for selected series, monthly or quarterly, 1947-72 (where available). Series added or significantly revised after the 1973
BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively; certain revisions for 1972 issued too late for
inclusion in the 1973 volume appear in the monthly SURVEY beginning with the August 1973 issue. Also, unless otherwise noted, revised monthly
data for periods not shown herein corresponding to revised annual data are available upon request.
The sources of the data are given in the 1973 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and
are also listed alphabetically on pages 189-90. Statistics originating in Government agencies are not copyrighted and may be reprinted freely.
Data from private sources are provided through the courtesy of the compilers, and are subject to their copyrights.
1973
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes areas shown in
the 1973 edition of BUSINESS STATISTICS
1974 |
1975
1973
I
Annual total
II
1974
III
IV
I
|
I!
1975
Ill
IV
II
I
1976
IV
III
I
Seasonally adjusted quarterly totals at annual rates
GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
Gross national product, totalf..
bil.$._ 1,306.3
1,265.0 1,287.8 1,319.7
1,352.7
1,370.9
1,391.0 1,424.4
1,441.3
1,433.6
1,460.6
785.7
800.5
818.4
829.5
849.5
877.8
907.7
908.4
926.4
950.3
977.4
128.1
49.5
57.4
124.8
58.2
49.3
124.4
56.4
50.4
123.7
54.4
51.2
118.9
48.4
51.9
118.4
46.1
53.4
123.1
48.7
55.0
128.9
53.5
55.9
117.3
43.6
54.3
118.9
44.6
54.1
123.8
46.1
57.0
131.8
52.1
58.3
137.6
55.1
60.4
145. 9
'62.1
375.7
65.2
189.4
36.4
409.8
69.9
209.1
40.3
321.4
60.1
161.2
26.7
328.0
60.9
164.3
27.4
339.6
61.9
171.4
28.5
348.5
62.8
175.2
30.6
359.8
64.3
181.3
31.7
371.9
65.3
185.4
37.1
383.9
66.5
193.2
38.2
387.1
64.8
197.4
38.8
394.1
66.7
202.8
38.1
404.8
69.0
206.6
416.4
71.3
211.4
41.2
423.7
72.5
215.6
42.1
• 430.8
'73.5
219.3
'42.2
351.3
50.3
123.1
27.8
388.3
56.4
136.0
30.9
426.0
63.3
148.8
34.1
339.5
48.2
118.9
27.2
348.2
49.8
121.9
27.6
355.2
51.4
124.7
28.0
362.2
51.9
126.8
28.5
371.2
52.7
131.4
29.7
382.8
55.6
134.2
30.4
394.9
57.9
137.4
31.4
404.0
59.2
140.7
32.1
413.4
60.6
143.9
33.0
421.6
63.1
147.0
33.5
429.2
64.7
150.2
34.2
439.7
64.9
154.1
35.5
• 452.9
'67.0
• 157.8
1,406.9
1,498. 9
Personal consumption expenditures, total..do
808.5
885.9
963.8
Durable goods, total9
do
Motor vehicles and parts
do
Furniture and household equipment.--do
122.9
54.4
50.7
121.9
48.0
54.7
Nondurable goods, total9
Clothing and shoes
Food
Gasoline and oil
do_.
do..
do.
do..
334.4
61.4
168.0
28.3
Services, total9
Household operation
Housing
Transportation
do..
do..
.do..
do..
_
Gross private domestic investment, total...do
1,528.5 1,572.9 '1,619.2
1,001.0 '1,029.6
'61.3
220.5
212.2
182.6
211.7
217.1
221 2
231.9
218.4
212.7
207.6
210.3
168.7
161.4
194.9
205.4
• 232.2
Fixed investment
Nonresidential
Structures
Producers' durable equipment
do
do
do
do
203.0
136.5
49.0
87.5
202.5
147.9
54.4
93.5
197.3
148.5
52.7
95.8
199.3
131.0
46.3
84.8
202.8
134.5
47.7
86.7
205.6
138.5
50.3
88.2
204.2
141.8
51.5
90.4
203.5
145.9
53.4
92.5
203.4
146.6
54.1
92.4
203.1
148.1
54.0
94.1
199.8
151.1
56.1
95.0
193.5
149.3
54.9
94.4
191.1
146.1
51.1
95.0
197.1
146.7
51.2
95.6
207.4
151.9
53.6
98.3
• 216.7
• 158.1
'55.5
• 102.6
Residential
Change in business inventories
Nonfarm
do..
do..
do..
66.5
17.5
14.1
54.6
9.7
11.6
48.7
-14.6
-16.5
68.2
12.4
10.1
68.3
14.3
11.0
67.0
15.6
11.0
62.4
27.7
24.0
57.6
14.9
14.1
56.9
9.3
11.0
55.0
4.4
7.6
48.7
10.4
13.7
44.2
-24.8
-23.3
45.0
-29.6
-29.6
50.4
-2.1
-5.7
55.4
-2.0
-7.5
'58.6
'15.5
'11.3
Net exports of goods and services
Exports
Imports
do..
do..
.do..
7.4
101.5
94.2
7.7
144.2
136.5
21.3
147.8
126.5
2.0
89.4
87.4
4.5
96.6
92.1
10.2
105.2
95.0
12.8
114.9
102.0
15.6
133.1
117.5
4.0
141.6
137.6
3.2
148.6
145.5
8.2
153.6
145.3
17.3
148.2
130.9
24.2
140.7
116.4
22.1
148.5
126.4
21.7
153.8
132.1
'8.2
153.1
145.0
269.9
102.0
73.4
168.0
301.1
111.7
77.4
189.4
331.2
123.2
84.0
208.0
265.7
104.1
74.0
161.6
265.7
99.9
73.0
165.8
270.0
100.0
72.3
170.0
278.4
104.0
74.2
174.5
287.5
106.1
74.8
181.4
296.5
108.9
75.8
187.6
305.9
113.6
78.4
192.3
314.4
118.2
80.5
196.3
321.2
119.4
81.4
201.9
324.7
119.2
82.1
205.5
334.1
124.2
84.9
209.9
344.8
129.9
87.4
214.8
• 349.2
131.1
87.0
218.1
do
do
do
do
do
do
1,288.8
582.3
228.8
353.5
559.5
147.0
1,397.2
626.5
238.5
388.0
624.1
146.6
1, 513. 5
690.9
261.7
429.2
681.3
141.3
1,252.6
565.6
226.5
339.0
540.8
146.3
1,273.5 1,304.1 1,325.0 1,356.1 1,381.7 1,420.0 1,430.9
637.3
640.2
573.9
589.7
600.1
607.9
620.6
239.3
228.2
230.2
230.2
231.4
237.7
245.8
394.4
398.0
359.5
345.6
369.9
376.6
383.0
649.7
602.1
632.5
552.7
565.8
612.0
578.8
143.9
147.2
148.6
146.1
146.1
149.1
147.0
1,458.4
660.2
243.8
416.4
659.3
138.9
1,490.2
683.5
258.8
424.7
672.0
134.6
1,530.6
701.1
267.5
433.5
688.1
141.4
1,574.9
718.7
276.7
442.1
705. 9
150.3
1,603.8
'723.9
' 282.0
' 441.9
' 725.8
' 154.1
do
do
..do
17.5
10.3
7.2
7.5
2.2
-14.6
-10.6
-4.0
12.4
6.8
5.6
14.3
9.5
4.9
15.6
11.4
4.2
27.7
13.5
14.2
14.9
6.7
8.2
9.3
2.7
6.5
4.4
5.9
-1.4
10.4
14.9
-4.4
-24.8
-14.6
-10.2
-29.6
-15.5
-14.1
-2.1
-5.6
3.5
-2.0
-6.8
4.8
'15.5
' -4.6
'20.0
bil.$.. 1,233.4 1,210.7
1,186.1
1,227.7
1,228.4
1,236.5
1,240.9
1,228.7
1,217.2
1,210.2
1,186.8
1,158.6
1,168.1
752.3
764.1
Govt. purchases of goods and services, total .do
Federal
do
National defense
do
State and local..
do
By major type of product:!
Final sales, total.__
Goods, total
Durable goods
Nondurable goods
Services
Structures
,
Change in business inventories...
Durable goods
Nondurable goods
GNP in constant (1972) dollarsf
Gross national product, totalf
Personal consumption expenditures, total..do
Durable goods
Nondurable goods
Services
_
do.
.do.
do..
Gross private domestic investment, total...do
Fixed investment
Nonresidential
_
Residential
Change in business inventories
Net exports of goods and services
do.
do.
do
do
do
Govt. purchases of goods and services, total _ do
Federal
do.
State and local
do.
766.3
759.8
766.9
765.8
766.2
770.5
762.8
760.0
763.2
767.2
748.9
1,216.2 '1,241.2
779.4
794.5
112.3
308.0
351.2
115. 3
310.7
353.3
120.8
315.7
• 358.0
120.9
309.6
335.8
112.5
303.0
344.4
109.5
306.6
350.7
124.0
310.6
331.2
122.7
308.2
335.3
121.2
311.4
337.9
115.7
308.3
338.9
114.7
304.5
340.8
115.5
303.8
343.9
116.8
304.7
345.7
102.9
298.9
347.2
104.0
300.8
347.5
106.5
306.9
350.8
207.4
180.0
138.3
205.0
206.1
206.0
212.6
195. 9
183.8
173.2
166.9
129.7
124.1
151.4
168.1
144.8
110.8
34.0
-20.7
148.7
110.6
38.0
153.0
112.3
40.7
-1.6
157.5
115.5
'42.0
'10.7
254.9
92.4
162.5
258.7
94.9
163.8
261.6
96.1
165.5
261.7
95.8
165.9
148.7
115.2
33.6
-19.0
191.4
131.3
60.1
16.0
172.2
127.5
44.7
7.7
148.8
112.2
36.6
-10.5
193.2
128.6
64.5
11.9
192.5
130.2
62.3
13.6
191.8
132.4
59.4
14.2
188.2
133.9
54.3
24.4
183.6
134.5
49.1
12.4
177.0
129.9
47.1
6.8
169.0
125.0
44.1
4.2
159.3
120.8
38.5
7.6
7.2
16.6
23.4
2.1
5.6
8.9
12.1
18.7
15.3
15.1
17.4
21.5
253.6
94.7
158.9
255.1
93.7
161.4
252.5
96.1
156.3
254.3
95.0
159.3
257.6
94.3
163.3
254.7
100.4
154.3
250.5
94.9
155.5
' Revised.
* Preliminary.
t Revised series. Estimates of national income and
product and personal income have been revised back to 1946 (descriptive material and earlier
data appear in the Jan. 1976 SURVEY, Parts I and II); revisions prior to Nov. 1974 for personal
251.1
94.2
156.9
253.5
94.9
158.5
254.0
94.7
159.3
255.0
94.7
160.2
254.7
95.7
159.0
income appear in table 2.2 in the Jan. 1976 SURVEY.
separately.
23.5
9 Includes data for items not shown
S-l
207-050 O - 76 - SI
g-2
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes areas shown in
the 1973 edition of BUSINESS STATISTICS
1973
1974
i
1973
1975
Annual total
II
III
May
1974
IV
I
II
1975
III
IV
I
II
1976
1976
III
IV
II
I
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCTf— Con.
Quarterly Data Seasonally A djusted at Annual Rates
Implicit price deflators :t
Gross national product
.. Index 1972=100
Personal consumption expenditures
do .
D urable goods
do
Nondurable goods
do
Services
do
Gross private domestic investment:
Fixed investment-.
.. do .
Nonresidential
do
Residential
do
Govt. purchases of goods and services
do
Federal
do
State and local
do
National income, totalf
Compensation of employees, total
Wages and salaries, total
Private
Military
Government civilian
Supplements to wages and salaries
105. 92
105.5
101.7
108.0
104.6
110.20
116.6
108. 4
124. 0
112.7
126. 37
125.7
116.9
133.6
121.5
104.84
104.5
101.4
106.4
103.8
106.73
106.2
102.0
109.0
105.1
109.01
108.8
102.8
113.1
106.9.
111.58
111.8
103.2
118.2
108.9
114.28
115.0
106.6
122.4
111.3
117.70
118.3
110.4
126.0
114.2
121.45
121.3
114.0
129.5
116.4
123.74
123.1
114.4
131.0
119.0
125.04
124.4
116.3
131.9
120.2
127.21
126.7
117.4
135.2
122.2
106.0
104.0
110.6
106. 9
106.1
107.5
117.6
116.0
122.1
118.4
117.6
118.9
132.6
132.3
133. 3
128. 6
130.6
127.4
105.3
103.3
109.7
106.1
105.3
106.6
107.2
104.7
112.9
107.5
106.1
108.3
108.5
106.0
114.9
109.8
109.5
110.0
110.9
108.5
117.4
113.2
112.1
113.8
115.0
112.9
120.7
116.3
114.9
117.1
120.2
118.5
124.9
120.1
118.6
121.0
125.4
125.0
126.7
124.0
124.8
123.6
130.1
129.6
131.6
125.9
127.3
125.1
131.9
131.8
132.3
127.3
128.9
126.4
132.6
132.6
132.5
129.2
130.9
128.2
135.5
137.7
135.3 r 136. 9
136.1 f 139. 7
131.8 r 133. 5
135.3
136. 9
129.8 r 131. 5
bil. $.. 1, 067.3 1,141.1
1,207.8
1,052.9
1,151.3 1,161.3 1,155.2
. ._ do __
do
do
-do
do
do
Proprietors' income with inventory valuation
and capital consumption
adjustments,
total
--- - -bil. $..
Farm
do
Nonfarm
do
Rental income of persons with capital consumption adjustment
bil. $
Corp. profits with inventory valuation and capital consumption adjustments, total
bil. $_.
Corp. profits with invent, val. adj.:
Domestic total
do
Nonfinancial total 9
8
136.5
126.5
1,180.8
1,232.5
1,262.6 pl,301.3
886.3
774.3
613.6
21.9
138.8
112.0
898.1
783.6
617.7
23.0
142.9
114.4
897.1
781.0
611.7
22.9
146.4
116.1
905.4
787.6
615.0
22.8
149.7
117.8
928.2
807.3
631.9
22.8
152.6
120.9
955.1 r 982. 6
830.7 r 851. 5
650.5 r 668. 8
23.6
23.6
156. 5
159.0
124.4
131.1
797.7
700.9
552.3
22.1
126.5
96.8
873.0
763.1
603.0
22.3
137.7
110. 0
921. 4
801.6
627.3
23.0
151.3
119.8
787.8
692.5
545.5
21.9
125.2
95.3
805.4
707.6
558.2
21.8
127.6
97.8
828.0
727.1
573.9
22.5
130.6
101.0
843.9
738.7
583.1
22.3
133.2
105.2
863.9
755.6
597.6
22.1
135.9
108.3
91.7
32.4
59.3
85.1
25.6
59.5
83.3
24 6
58.7
90.1
31.2
58.9
95.0
35.2
59.7
96.0
36.8
59.3
93.0
33.7
59.3
81.8
22.3
59.5
82.1
21.9
60.2
83.6
24.6
59.0
79.6
21.0
58.6
78.6
20.1
58.5
88.0
29.3
58.7
87.1
28.2
58.9
' 85.0
25.3
'59.7
21.3
21.0
21.1
21.2
21.3
21.1
21.1
21.0
20.9
20.9
20.8
20.5
20.9
22.0
22.7
91.3
100.3
99.6
98.9
99.6
94.3
89.2
82.0
78.9
96.6
113.1
112.7 * 121.8
82.5
17.3
65.3
37.4
11.8
100.1
16.2
83.9
45.2
17.8
90.8
17.5
73.2
44.8
24.7
91.4
17.4
74.0
42.6
23.8
92.0
17.9
74.1
42 .4
20.9
85.9
17.2
68.7
40.9
16.5
87.2
17.1
70.2
39.8
11.6
82.0
18.3
63.7
37.0
9.7
75.1
16.5
58.6
31.9
9.2
77.6
18.3
59.3
30.0
8.9
95.7
15.5
80.2
43.5
16.0
113.4
14.9
98.6
54.6
24.5
113.6 P 123. 1
16.1 p 17.5
97.4 P 105. 6
52.8
21.9
8.5
6.8
7.0
11.0
8.8
5.9
8.1
6.6
8.6
6.5
8.2
7.7
6.2
14.4
7.3
8.8
7.7
10.0
6.7
11.0
5.1
5.8
7.9
5.8
11.3
6.2
do
do
do
do
do
117.0
48.2
68.8
27.8
40.9
132.1
52.6
79.5
31.1
48.4
116.8
45.6
71.2
32.8
38.4
117.9
48.8
69.1
27.2
41.9
115.8
47.8
68.0
28.1
39.9
119.1
48.6
70.5
29.5
41.0
128.3
49.4
78.9
30.0
48.9
129.6
52.6
77.1
30.9
46.2
146.7
59.3
87.4
31.7
55.7
123.9
49.2
74.7
31.7
43.0
97.1
37.5
59.6
32.1
27.5
108.2
41.6
66.6
32.6
34.0
129.5
50.7
78.8
33.5
45.3
do
do
do
-18.4
1.6
56.3
-38". 5
-2.3
70.7
-10.8
-5.7
81.6
-20.6
2.2
54.3
-17.9
1.0
57.6
-19.5
.7
61.3
-28.0
-.7
64.8
-33.7
-1.7
68.7
-54.7
-2.7
72.7
-37.7
-4.2
76.7
-13.7
-4.5
78.7
-6.6
-5.0
79.7
-9.9
-6.5
82.2
1,039.0 1,067.8
153.7
147.3
914.1
891.7
840.3
821.8
73.8
70.0
1,098.8
158.9
939.9
853.4
86.5
1,115.9 1,136.6
168.4
162.1
968.2
953.8
901.4
872.6
66.8
81.2
do
Inventory valuation adjustment
Capital consumption adjustment
Net interest
1,122.3 1,129.6
130.46
129.6
r 120.
91.7
17.4
74.3
43.8
24.0
Durable goods
do
Transportation, communication, and
electric, gas, and sanitary serv
bil. $. _
Rest of the world
do
Profits before tax, total
Profits tax liability
Profits after tax
Dividends
Undistributed profits
1,078.1 1,106.8
129. 33
128.4
119.4
136.4
124.4
100.2
100.4
11.0
5.8
?6.3
132.4 p 140. 8
52.5 p56. 5
79.9 ^84.3
33.3
33.1
46.8 *>51.0
-13.1
-6.6
85.7
-11.4
-7.6
89.2
DISPOSITION OF PERSONAL INCOME f
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§
bil. $__
do
_do
do
do
1, 054.3 1,154.7 1, 245. 9
171.2
169.2
151.2
983.6 1, 076. 7
903.1
909.5 987. 8
830.4
88.9
74.0
72.7
1,171.6 1,194.8 1,203.6 1,223.8 1,261.7 1,294.5 •1,325.2
184.4
142.1
174.6
175.3
179.6
178.9
180.5
996.3 1,015.9 1,024.0 ,081.7 , 087. 1 1,114.0 1,140.7
1,054.5
,
001.
3
974.2
950.4
932.4
1,025.4
931.7
-86.2
85.9
107.5
64.6
73.6
83.6
88.6
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries..
Manufacturing
Durable goods industries 1
Nondurable goods industries f
bil. $
do_
ao
do
99.74
38.01
19.25
18.76
112.40
46.01
22.62
23.39
112. 78
47.95
21.84
26.11
24.73
9.16
4.65
4.51
25.04
9.62
4.84
4.78
28.48
11.43
5.84
5.59
24.10
9.49
4.74
4.75
28.16
11.27
5.59
5.69
28.23
11.62
5.65
5.96
31.92
13.63
6.64
6.99
25.82
10.84
5.10
5.74
28.43
12.15
5.59
6.55
27.79
11.67
5.16
6.51
30.74 i 26. 56 i 30. 19
12.84
11.05
13.30
5.65
4.94
5.99
7.19
6.12
7.30
do
do
do
do
do
61.73
2.74
1.96
2.41
1.66
66.39
3.18
2.54
2.00
2.12
64.82
3.79
2.55
1.84
3.18
15.57
.71
.46
.72
.43
15.42
.69
.48
.57
.44
17.05
.71
.56
.60
.47
14.61
.68
.50
.47
.34
16.89
.78
.64
.61
.49
16.61
.80
.64
.43
.58
18.29
.91
.78
.48
.71
14.98
.91
.59
.44
.62
16.28
.97
.71
.47
.77
16.12
.94
.62
.50
.85
17.44
.97
.62
.43
.93
15.51
.89
.49
.35
.67
17.35
.97
.51
.39
.82
do
do
do
do
do -
18.71
15.94
2.76
12.85
21.40
20. 55
17.63
2.92
13.96
22.05
20.14
17.00
3.14
12.74
20.60
4.59
3.91
.68
3.27
5.40
4.82
4.04
.77
3.19
5.24
5.36
4.54
.82
3.53
5.83
4.38
3.85
.52
3.19
5.05
5.30
4.56
.75
3.60
5.46
5.20
4.42
.78
3.39
5.57
5.67
4.80
.87
3.78
5.97
4.42
3.84
.58
3.11
4.88
4.94
4.15
.79
3.22
5.19
5.07
4.16
.91
3.14
5.00
5.70
4.85
.85
3.26
5.52
5.07
4.41
.65
5.86
5.01
.86
28.04
28.79
97.76
36.58
18. 61
17.94
100. 90
38.81
19.73
19.08
103.74
40.61
20.48
20.13
107. 27
42.96
21.43
21.53
111.40
45.32
22.50
22.82
113.99
47.04
23.08
23.96
116. 22
48.08
23.28
24.80
114.57
49.05
22.86
26.20
112.46
48.78
22.59
26. 19
112.16
47.39
21.01
26.38
111.80
46.82
21.07
25. 75
61. 18
2.77
1.75
2.72
1.62
62.09
2.82
1.95
2.49
1.79
63.12
2.76
2.05
2.20
1.73
64.31
2.80
2.10
2.13
1.63
66.08
3.07
2.42
2.21
1.84
66.94
3.27
£.68
1.84
2.16
68.14
3.56
3.05
1.81
2.71
65.52
3.76
2.39
2.09
2.82
63.68
3.78
2.70
1.60
2.75
64.76
3.82
2.75
2.12
2.99
64.98
3.82
2.39
1.65
3.56
18.58
18.08
Public utilities
do
16.00
15.55
Electric .
do
2.58
2.52
Gas and other
. . do .
13.12
12.70
Communication
do
21.36
21.55
Commercial and other.
do
r
Revised.
P Preliminary.
i Estimates (corrected for systematic biases) for Jan.Mar. 1976 and Apr .-June 1976 based on expected capital expenditures of business. Expected
expenditures for the year 1976 appear on p. 19 of the Mar. 1976 SURVEY.
2 includes communication.
fSee corresponding note on p. S-l.
9 Includes data for items not shown
19.80
16.72
3.08
13.24
21.35
Nonmanufacturing
.
Mining
Railroad .
Air transportation _
Other transportation
Public utilities
Electric..
Gas and other. _ .
Communication __ . .
Commercial and other
.
.
Seas. adj. qtrly. totals at annual rates:
All industries
. .
do
Manufacturing
do
Durable goods industries t
. . do
Nondurable goods industries 1
do. .
Nonmanufacturing
_.
Mining
Railroad
Air transportation
Other transportation
do
do
do
do
do
1 118.70 1119.62
51.45
50.24
22.74
22.32
28.72
27.92
68.47
3.70
2.04
1.64
3.49
68.17
3.78
1.96
1.34
3.11
23.17
23.21
20.91
19.79
20.28
20.93
19.52
20.16
20.97
19.81
19.58
17.92
16. 58
17.03
17.76
16.41
17.47
18.10
3.36
3.64
3.00
3.21
3.17
3.25
2.68
3.11
2.87
12.22
12. 95
14.04
12. 50
13.36
14.01
13.94
2
2
34.39
34.
81
20.44
20.34
22.
04
20.82
20.83
22.84
21.63
iditures, interest
an
exper
nsumpti
sonal
co
)rise
per
ys
comf
©Persor
lal
outla
separ ately.
paid by consu mers to I usiness, and personal trarisfer payinents to foreigner s (net).
lays,
§Pe rsonal sa ving is 63ccess of d isposabltj income over per sonal outjompone
tits appear in the
HD ata for iridividual durable and non durable goods in<lustries (
SURVEY
Mar., June, S(ipt., and Dec. isstles of the
20.12
17.12
3.00
13.83
21.69
SURVEY OF CUEEENT BUSINESS
May 1976
1973
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1974
1973
1975 P
1974
S-3
I
Annual total
IV
III
II
I
II
1975*
IV
III
1
II
1976 v
III
IV
I
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
U.S.
BALANCE OF INTERNATIONAL
PAYMENTSd"
Quarterly Data Are Seasonally Adjusted
(Credits +; debits -)
Exports of goods and services (excl. transfers under
military grants)
mil. $
Merchandise adjusted, excl. military
do
Transfers under U.S. military agency sales contracts
mil. $
Receipts of income on U.S. investments
abroad
-- mil. $
Other services
_
.do
102, 051
71,379
144,448
98,309
47, 548
07, 184
22,329
15, 423
24, 144
16, 958
26, 282
18,451
29, 298
20,547
33,337
22,464
35,510
24,218
37,187
25,034
38,413
26,593
36, 955
27, 056
35, 339
25, 843
2,342
2,944
3,981
347
455
531
1,009
663
678
766
837
949
800
13, 998
14, 333
26, 068
17, 126
17, 875
18, 509
3,123
3,436
3,304
3,427
3,576
3,724
3,995
3,747
6,129
4,081
6,447
4,167
7,054
4,333
6,438
4,545
4,306
4,644
4,247
4,449
-97,875 -140,623 -131,049
Imports of goods and services]!
do
-70, 424 -103,586 -98,139
Merchandise, adjusted, excl. military.
do
-4, 658 -5, 103 -4, 800
Direct defense expenditures If
do
Payments of income of foreign investments in the
-8,819 -15,946 -11,845
U.S
mil. $
-13,973 -15,988 -16,266
Other services
do
Balance on goods and services total
Merchandise adjusted, excl. military
4,177
955
do
do
Unilateral transactions (excl. military grants), net
mil. $__
Balance on current account.. _ . .
do Long-term capital, net:
U.S Government
do
Private
do
Balance on current account and long-term capital
mil. $.Non-liquid short-term private capital flows, net
mil. $
Allocation of special drawing rights (SDR) do
Errors and omissions, net
do.. .
-3, 841
335
-1,490
177
-977
-4,238
3,825
-5, 277
-361
-911
-334
57
" 1, 118 -1,726
-8, 463 -8,789
166
-231
4,698
1,162
4,676
4,646
4,646
4,770
54
-290
2,992
-123
-442
1,706
-769
-1,297
1,917
-419
1,411
264
1,701
59 -1,257 -3, 908
-150
78
-1,459
-235
-2,315
989
-1,380
2,873
1,495
4,936
3,274
4,473
2,111
484
83
-999 -2, 157
-860
-469
-350
-477
-430
-5, 570 -2, 206 -2, 421 -1, 573 -2, 591
-2, 302 -3, 574
-6, 529
-977
-5, 265
-2, 305
1,949
-1,458
982
-966
1,396
1,014
1,313
1,135
-1, 193
1,745
552
-6, 254
2,054
-4, 200
-3,897
4,014
117
-994 -1,864 -1,933
11
-354
259
-452
167
-147
-13
-15
17
-835
1,306 -1,507
-62
-278
-2
-210
-3, 813
3,930
751
3,886
2,686 i 1, 394 1-4,962 i 1, 892
185
630
136
811
406
297
558
443
-1
i -1
215
-6
i -1
* -1
-358 -1,003
137
-342
-325
-29
89
-7,551 -4, 146 -9, 699 -1, 339 -1,869
874 -3, 731
-18,940
3,138 -6,811 -1,719
10, 543 -5, 601 -3,818
2,270
-8, 397 -2, 463 -10,629
551
4,456
1,118
-475
209
-9, 602
9,250
8,503 i 1, 007
2,072
673
1,202
655
i -9
-43
-607
220
-1, 434
-25,207 -6,062 -8, 569
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1974
1, 826
492
2,318
1,236
2,485
446
-7, 598
462
3,457
2,730 -6, 623 —2, 232
-4, 868 -3, 166 -1,770
936
May
June
July
690
439 -1,223
4,569 -1,315
5,008 -2, 538
1975
1975
Apr.
-4
-1, 893 -1,909
726
-7, 651
2,343
-5,308
Mar.
4,218
2,165 -1,598
-950
3,399
2,449
863
Net liquidity balance
.
do
Liquid private capital flows, net
dl
Official reserve transactions balance. .
do. Changes in liabilities to foreign official agencies:
Liquid
mil. $
Other readily marketable
do
Nonliquid
_ ._. ..do
Changes in U.S. official reserve assets, net
do
Gross liquidity balances, excluding SDR
do_--
Annual
26,827
-900 -1,173 -2, 966 -1,865 -1,265 -1,088 -1, 175 -1, 183 -1,027 -1, 201
26 -1,787 -1,500
653
-99
1,647
1,698
3,753
3,446
3,017
-1,393 -1,085
4,556 -3, 875
2,820
1,383
1,553
714
-12,936 -2,819 -1,543 -1,497
-2,436
1,070
-1,799 -2,096 -2,413 -2,511 -2, 884 -4, 483 -4, 700 -3,879 -3, 121 -2, 847 -2, 903 -2, 974
-3, 383 -3, 457 -3, 507 -3, 626 -3, 708 -3, 948
4,094 -4, 237 -4, 097 -3, 778 -4, 007 -4, 384
-7, 182 -4, 583
-755 -1,015
-3,357 11,916 -1,116
-849
1,401
38, 267
27, 689
-22,690 -23,978 -24,729 -26,478 -30,345 -35,432 -37,422 -37,424 -34,082 -30,403 -32,515 -34,049
-16,334 -17,189 -17,737 -19,164 -22,587 -25,677 -27,349 -27,973 -25,561 -22,569 -24,485 -25,524 -28, 425
-1,174 -1,236 -1,072 -1,177 -1, 166 -1,324 -1,279 -1,335 -1,303 -1,209 -1, 120 —1, 167
16,500
9, 045
-10,702
36, 988
26, 596
-773
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr. p
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME, BY SOURCEf
Seasonally adjusted, at annual ratesit
T otal personal income
bil. $
Wage and salary disbursements, total
do
Commodity -producing industries, total-do
Manufacturing. _ . _
-do
D istributi ve industries
do
Service industries
Govt. and govt. enterprises.
Other labor income
Proprietors' income:A
Farm
Nonfarm
...
do .
do
do
do
do
1 154 7 1 245.9 1,205.0
801.6
273.6
211.2
195.1
763.6
273.7
211 2
184.3
' 856. 8
' 295. 4
' 230. 3
862.8
297.8
232.3
209.9
167.1
181 9
65 2
168.8
182.6
66.1
' 170. 0
67.0
171.2
183. 9
67.8
25 6
59 1
25.3
59.7
25.0
^60.3
26.3
60.7
1,244.0
1,262.4
1,278.7
1,287.4
1,295.9
1,300.2
1,313.6
792.7
268.8
207.2
192.9
797.4
270.9
208.8
193.9
808.8
275.6
213.2
197.7
815.6
279.5
216.6
198.2
824.1
281.7
218.7
200.2
831.2
283.2
219.7
202.4
836.8
286.9
223.3
202.9
846.0
291.2
226.9
205.8
163.1
179.0
63.2
165.3
180.3
63.8
165.7
181.2
64.4
30.5
58.9
28.3
58.8
25.8
58.9
145 0
160 6
54 5
158. 6
174 3
61 3
154 6
170 5
59 4
154 5
171 5
59 8
156.1
172 6
60 3
157.4
173 6
60 8
158.2
174 4
61 4
160.3
175.2
62 0
25 6
59 5
24 6
58.7
17 9
58 6
18 5
58 5
20 1
58 6
21 7
58 6
25 8
58 7
29 3
58.7
32.7
58.8
21 1
32 g
120.5
175 0
49.8
210 2 1
1,347.6
851.6
293.0
228.4
207.2
1,245.2
787.4
267.0
205.6
191.7
782.7
265.8
204 9
190.9
161.5
176.4
62.6
Rental income of persons, with capital consumption adjustment
bil. $
21 0
Dividends.
..
do
31 1
Personal interest income
do
106.5
Transfer payments
do
140 4
Less personal contributions for social insurance bil. $_ 47.4
Total nonfarm income
..
do
1 119 1 1
1,325.9 '1,336.0
1 209.0 1,217.2
781.7
265.9
204 4
190.7
20 8
32 1
116.1
167 2
48.9
176 2 1
20 7
32 4
116.6
168 6
48.9
179 7 1
20 5
32 6
117.5
169 3
49.1
186 2 1
20 2
32 9
118.6
189 0
49.3
212 5 1
22.0
21 8
20 5
21.3
21 0
33.8
33.9
33.8
33 5
33 2
127.9
122.9
125.1
121.2
119.7
181.4
180.6
181.3
178 1
176 8
51.2
50.4
50.0
50.7
49.5
207 2 1 222 1 1, 234. 8 1, 245. 6 1, 256. 3
22 2
31.7
129.0
182.9
51.6
1,262.9
5 617
5 663
5 784
6 665
7 700
10 224
8 799
r 208. 0
r 183. 3
23.1
22.9
22.7
22 5
33.8
33.2
33.3
33.4
135.1
131.8 ' 133. 6
130.4
192. 0
188.9 r 190. 8
184.7
53.9
'53.6
53.4
53.3
1 276 3 1,288.9 '1,299.2 1,309.5
FARM INCOME AND MARKETING*
Cash receipts from farming, including Government
payments totalt
mil $
Q4. 0^1
Farm marketings and CCC loans, total., do ... 93 521
Crops
do
52 097
Livestock and products, total 9
do
41 424
9 399
Dairy products
... .
do
Meat animals
do
25, 257
Poultry and eggs
do
6 285
Indexes of cash receipts from marketings and CCC
loans, unadjusted :t
All commodities
1967 = 100_ .
Crops
.
do
Livestock and products ..
do
Indexes of volume of farm marketings, unadjusted:}:
All commodities
1967=100
Crops
do
Livestock and products
do_.
Q1 380
90 572
47 327
43 245
9 790
26, 110
6 871
5 521
2 448
3 073
5 606
2 291
3* 315
5 752
2 202
3 550
1,735
494
2,002
463
2,151
511
2,174
527
212
257
157
149
177
151
163
161
143
186
202
170
155
159
111
122
115
129
89
73
89
69
218
283
104
105
811
100
807
103
844
808
8 741
11 352
6,129
'6,097
' 2, 112
' 3, 985
'987
' 2, 432
'531
6,100
2,100
4,000
1,000
2,500
500
'171
'137
'196
171
138
11,276
6,809
4,467
10,174
6,230
3,944
8,003
4,183
3,820
793
861
861
8,722
4,745
3,977
792
8,695
4 606
4 087
2,155
615
2,108
628
2,598
656
2,884
685
2,426
623
2,310
677
2,241
576
2,283
527
215
265
214
264
244
300
316
443
285
406
244
309
224
272
171
154
188
120
143
798
940
175
177
176
201
220
194
90
70
99
99
112
129
111
196
128
151
169
234
159
225
134
170
100
101
110
99
6,150
7,619
4 052
3 567
7,674
4 070
3 604
175
102
8 086
6,097
2,371
3,726
196
r Revised.
* Preliminary.
1 All nonmarketable U.S. Treasury securities issued to
foreign official reserve agencies are included in U.S. liquid liabilities to foreign official agencies
beginning second quarter 1975.
o?More complete details, as well as revisions back to 1960,
appear on p. 26 ff. of the June 1975 issue of the SURVEY.
lAnnual data in the 1973 BUSINESS STATISTICS should read as follows (mil. $): 1956 total imports of goods and services,
6 651
3 101
3 550
7 663
123
eludes data for items not shown separately.
112
109
964
105
878
183
93
80
102
'93
'66
'111
197
90
60
106
SURVEY OF CURRENT BUSINESS
S-4
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1975
1974
May 1976
1975
Mar.
Annual
Apr.
May
June
1976
Aug.
July
Oct.
Sept.
Nov.
Dec.
Jan.
Feb.
Mar.p
Apr.*
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION cf
Federal Reserve Board Index of Quantity Output
Not seasonally adjusted:
Total index cfBy market groupings:
Products, totalFinal products ...
Consumer goods
Automotive products.
Home goods and clothing
Equipment
1967-100
Intermediate products
Materials
.
By industry groupings:
Manufacturing
Durable m anuf actures. _
Nondurable manufactures
Mining and utilities
Seasonally adjusted:
Total index
By market groupings:
Products total
Final products
Consumer goods
124.8
113.8
110.6
110.4
110. 6
114.5
109.4
115.5
120.3
119.6
117.5
114.5
' 116. 6 '121.2
122.4
122.7
114.4
113.9
122.1
95.9
108.9
102.4
' 116. 6
116.7
' 127. 1
110.1
'112.6
' 102. 2
' 120. 8
' 120. 9
' 131. 8
' 120. 7
' 122. 8
105.7
121.5
121.3
132.2
124.6
123.6
106 0
121.6
121.1
132.1
122.1
124.9
105.8
116.3 ' 116. 2
' 115. 3 '116.5
' 120. 5
'121.8
122.2
123.9
123.9
124.4
do
do
do
do
do
do
123.1
121.7
128 8
110.0
124.6
111 7
115 7
115 5
124 0
99.1
110.3
103 6
112 3
112 2
117 4
90.3
103.8
104 9
112.5
112.0
118 7
101.4
105.4
102 8
112 7
112 4
119 4
103.7
106.3
102 7
117.7
117.7
127 1
109.9
113.2
104 6
113 6
113.3
122 7
89.4
103.0
100 2
118 6
118 3
130 9
96.6
115.8
100 6
122.9
123.0
135 9
112.8
120.6
105 1
120.8
120.4
132.0
117.8
121.3
104.3
118.0
117.3
127.6
111.2
116.8
103.0
do
do
128.3
127 A
116 3
110.6
112 5
107 8
114 2
106 9
113 5
107 2
117.5
109.2
114.9
102.5
119 9
110 3
122 4
115 9
121.9
117.5
120.3
116.7
do
do
do
124.4
120.7
129.7
112.2
105.8
121.4
108 5
105.7
112 6
109 0
105.0
114 7
109 1
104.1
116 5
113.0
106.7
122.2
106.7
99.0
117.9
113 4
103.8
127.0
118 7
109.2
132 2
119.0
109.6
132.4
117.2
108.3
129.9
112.9
105.3
123.9
' 114. 1 ' 120. 4
' 106. 4 '112.9
125.2 ' 131. 2
121.5
114.3
131.8
122.3
115.1
132.7
do
127.3
127.5
126 1
124 2
122 7
127.1
130.0
134 4
133 3
125.7
124.2
126.2
' 132. 1 '128.6
128.3
126.5
do
124 8
113 8 r no o
109 9
110 1
111.1
112.2
114 2
116 2
116.7
117.6
118.4
' 119. 5 ' 120. 8
121.7
122.5
do
do
do
123 1
121 7
128 8
115 7
115 5
124 0
112 4
112 2
118 2
113 0
112 6
119 7
113 4
113 7
121 2
114 2
114 5
123 3
115 3
115.7
125.5
115 8
115 9
125 7
116 9
116 9
126 8
116.9
117.0
127.0
118.0
117.9
128.9
119.3
119.0
130.2
120.2
'119.6
130.9
'121.3
' 120. 8
' 132. 1
121.6
121.1
132.6
122.4
121.9
133.5
Durable consumer goods
do
Automotive products
...do
Autos .
do
Auto parts and allied goods
do
127 9
110.0
94.9
139.0
112 5
99.1
86 9
122.3
103 1
86.8
73 1
113.2
107 8
93.6
82 4
115.2
110 5
97.6
86 3
119.3
113.2
103.4
93.2
122.8
115.9
106.9
97.7
124.8
116 1
105.9
96 8
123.2
118 3
106.7
97 9
123.5
118.3
108.9
101.2
123.9
118.8
109.3
100.0
127.2
119.5
111.3
100.1
132.7
120.9
111.6
99.2
135.2
'123.6
' 115. 0
105.2
' 133. 5
125.6
116.4
108.5
131.7
126.5
115.9
112.4
122.7
Home goods 9
do
Appliances, TV, home audio. ..do
138.0
132.0
153 5
120 1
101.8
I qq o
112 3
85.0
127 9
115 9
96.7
127 8
117 8
102.3
118.8
103.5
131 1
121.0
104.8
135 5
121.9
106.5
136 0
125 0
108.4
123.6
105.4
137 9
124.2
104.6
139.3
124.1
106.0
138 7
130.9
' 126. 2 ' 128. 6
' 110. 4 ' 113. 1 116.5
' 139 1 ' 141 9 143 1
132.6
119.1
129.2
109 0
134.5
125.4
144.0
128.4
99 0
136.2
125.3
147.7
124.2
90 9
132.7
120.7
145.3
124.0
89 2
133.3
122.7
144.3
127.2
97 7
134.9
124.2
146.4
129.0
101.6
136.3
125.5
147.7
129.4
102 0
136.6
125.8
148.0
130 1
101 5
137 8
126.4
149 9
130.5
104 5
137.3
127.2
148.1
132.7
106.2
139.7
130.0
150.0
134.4
108.2
141.4
130.6
152.7
' 134. 6
109.5
'141.3
' 130. 4
' 152. 7
' 135. 2
110.9
' 141.7
'130.3
' 153. 6
135.2
136.0
133 4
122.4
145.3
141.6
129.7
154.2
142.5
130.2
155.6
111.7
129.4
128.7
136.0
121.7
103.6
116.7
116.8
133.7
106.0
103.9
117.0
118.8
137.7
106.6
103.0
115.4
116.4
132.3
105.6
1C2 9
115.0
115. 3
131.7
105.0
102.2
113.9
114.0
127.7
104.3
102.2
113.9
113.3
126.9
105.5
102.3
114.9
113.4
128.3
105.2
102 8
115 6
114.5
129.7
104.5
102.6
115.7
115.4
133.1
104.0
102.5
116.5
116.3
136.5
103.6
103.5
118.2
118.4
138.0
105.9
' 103. 8
' 118. 4
'118.7
' 138. 8
' 106. 1
105.0
' 120. 5
'119.7
' 139. 0
' 108. 1
105.0
121.0
120.2
139.5
108.3
105.8
122.0
121.4
140.5
110.0
130.3
141.1
109.6
116.6
125.1
98.1
115.1
127.8
88.8
114.2
123.2
92.2
114.7
121.5
98.6
113.9
120.7
98.0
114.6
123.0
98.0
116.4
123.4
101.5
116.9
122. 6
105.0
116.2
123.3
100.4
116.7
123.3
101.7
118.0
125.3
102.9
121.6
' 118. 2
' 125. 7 ' 128. 9
' 102. 5 ' 106. 6
121.9
129.4
107.0
122.9
130.7
107.8
82.3
81.8
82.1
82.4
82.7
82.9
82.6
81.4
81.6
81.1
79.4
79.0
79.1
78.7
78.8
115.4
109.3
120 3
116.6
112 0
117.0
112 5
118.5
123.5
120.3 ' 122. 4 ' 123. 4
112.5
118.0
114.2 ' 116. 9 ' 117. 6
123.3 ' 125 3 ' 127 1 ' 128 1 127 9
124.1
118.6
115 1
108*. 7
103.0
102 4
123.4
133.9
121 3
116 5
110.2
102.4
105 2
125.0
136.1
120 6
116.8
110.9
102.8
107.9
124.9
136.3
120.7
116.8
110.8
103.1
107.9
125.7
137.7
117.2
' 120. 2
'115.5
'106.3
'110.3
' 127. 1
' 139. 4
' 119.9
121.9
116.8
108.5
110.5
128.8
141.4
124.2
122.7
118.1
109.8
111.2
129.2
142.0
124.0
116.3
107.8
107.1
98.1
96.0
104 2
117.3
117 0 ' 118. 1 ' 119. 8
109.0 ' 110. 0
108.1
105.6 ' 108. 5 ' 112. 1
99.9 ' 104. 7
95.1
96.2 ' 101. 4
92.2
99 8 ' 108 9 110.9
117.3 ' 117. 8 ' 120. 3
120.6
112.0
112.9
105.3
101.5
112.3
121.4
121.5
113.6
115.9
107.9
103.7
124.8
108. 1
116. 7
120.4
112. 6
109.1
118.2
121.7
114.3
110.2
119.2
123.5
114.3
Nondurable consumer goods
do
Clothing
do
Consumer staples
do
Consumer foods and tobacco. ..do
Nonfood staples
do
Equipment
do
Business equipment
do
Industrial equipment9
do
Building and mining equipment" do . .
Manufacturing equipment
do
Commercial transit, farm eq 9
Commercial equipment
Transit equipment
Defense and space equipment
do
do
do.~-.
do
198 fi
125.3
94 4
do
do
128.3
129 6
116.3
112 4
112.7
109.1
1 -I e f>
113.4
110 1
112.4
107 6
112.8
106.8
117 4
114.3
108.0
119 3
Materials
do
Durable goods materials 9
do
Consumer durable parts __ .
do
Equipment parts. _.
do
Nondurable goods materials 9 _ _
.do
Textile, paper and chem. materials. ..do
Fuel and power, industrial
"do
127 4
127^3
112.1
123 8
128.5
139.8
122 6
i in R
106.5
94.0
106 4
115.0
121.2
118 7
105 9
104! 7
84.7
108 7
105.3
106.2
118 0
105 2
101.6
86.0
104.6
107.9
110.4
117 5
104 Q
100.2
87.7
102.1
109.5
113.2
118 0
106.0
99.8
90.8
97.3
112.3
117.0
119.5
106 8
100.3
92.8
96.8
114.0
118.9
121.1
111.5
106.1
101.7
100.7
118.3
126.0
118.4
107 9
103 3
103.2
95 0
99 4
108 2
102 5
99.8
89 9
90 1
112.4
110.9
109.5
103.2
100.8
91.8
88.7
97 0
110.9
110 6
103 4
100.7
92.8
87.0
103 8
109.7
112 8
105 4
104.1
96 5
90.4
108 1
112.7
Intermediate products.. _
Construction products
By industry groupings:
Manufacturing, total
do
Durable manufactures . .
do
Primary and fabricated metals
do
Primary metals. .
"do
Iron and steel
do
Nonferrous metals
do
Fabricated metal products' ~ X ~ ~ ~ ~ ~ d o " "
Machinery and allied goods 9 .
Machinery
Nonelectrical machinery
Electrical machinery
do
" <jo
do
" " "do
120 7
127.5
124 1
119 9
•inc. o
96 1
107 7
103 5
105.1
98 1
103 1
131.4
114.8
112.9
194 A.
1116.3
90 i
133.8
•joe 9
Transportation equipment
Motor vehicles and parts
Aerospace and misc. trans, eq
Instruments...
do
do
do
do
Lumber, clay, and glass
Lumber arid products
Clay, glass, and stone products
do
"do
do
123.6
do
do
do
136.1
Furniture and miscellaneous
Furniture and
fixtures.
Miscellaneous manufactures
Nondurable manufactures
do
Textiles, apparel, and leather." """do""
Textile mill products
" "do
Apparel products
do
Leather products
do""
Paper and printing
Paper and products
Printing and publishing
do
do
"'.do""
96.9
113.2
81.1
129.7
108.9
•IftK
105. 6
Q7 9
QQ
7
Q1 O
121.0
1 o A (\
114.4
116 8
112.6
115 0
111 2
118.8
113.9 '118.0 ' 116. 9
116 1 ' 121 9 ' 119 6 119 8
112 6
m 7 ' 115 3 118 2
119.1
122.9
111 0
133 7
124.1 ' 124. 0 ' 129. 5 130.0
112 2 ' 115 1' 119 3 118 1
140 8
135 1 r 132 1 r 138 g
131.3
128.7
108.4
130.0
109.7
132.9
111.7
m
oq
103 2
81 5
' 131. 4 ' 132. 3 132.7
110.4
'111.3 '109.5
' 121 5 126 0
106 6
84 9
105.9
108 0
107.0
110 3
105 1
108.2
112.0
106 2
110.6
114 5
113.1
115 5
117.6
119.7
120.1
121.1
121.5
118.7
104.2
98.9
121.0
77.5
144.3
104.8
104 1
108.8
109.6
97.3
118.1
77.3
142 3
94.3
110.1
79.2
1(M 9
po c
'94.4 '96.3
' 110. 0 ' 114. 3
79.4 '78.9
' 140 9 r 141 9
92.9
107.2
79.1
132 1
109.1
0
95.5
110.4
81.1
91.0
103.2
79.3
132 4
102.6
99 8
7q
94.1
109.4
79.4
137 0
90.5
100.0
81.3
131 0
114.8
90.4
A
77 °.
94.7
111.0
79.0
87.6
95.0
80.4
129 7
102.4
113.7
116.2
93.2
103.3
103.9
112.3
105.5
104.0
100.2
102.6
3.
cfMonthly revisions for 1972 are available
shown separately,
reflect updating of seas, factors back to Jan. 1972; those
™"v' to 1958) adjustment of sales to annual totals in the
118.6
94.9
106.9
ino q
1 AQ
A
m
o
123.1
109 6
135 3
120.8
97.4
123.4
100.2
106. 7 '
115 3'
119. 9
110. 4 '
'
'
'
'
ino Q
101.7
10Q fl
116.8
' 118. 3
'113.0
' 104. 8
108.7
' 126. 4
' 138. 8
' 118. 6
106.8
115 1
119.9
109 g
117.7
101.9
79.3
106.2
114 2
119.2
108.6
105.8
116.7
84.7
93.1
76.6
mi
113.7
87.5
116.1
105.9
97 0
93 2
106.0
115.9
105.0
88.4
98.1
79.0
121.4
98.0
106.1
103.7
110 0
115.1
104 4
1O4. A
1ftft 9
1O7 fi
102.4
108 4
112.9
103 4
81.0
85.4
76.7
130 6
118.7
p.
102.3
108 2
112.3
103 8
101.5
112 2
119.3
104 3
104.0
-I 07
m
rv
124.3
124.6
1 qo 7
1 °.7 9
125.7
104.0
127. 2
106.0
123.2
98.0
83. 8
q
c
•iqo 7
r 1 9fi 7
r lOQ 1
r §3 4
121.1
116.8 ' 119. 6 ' 120. 8 120.7
114.7
114.8
113.9
110.8
19Q 9
' 132 6 ' 134 6 135 4
111.0
110.9
'111.5
'110.8
108.5
106.2
106.5
107.1
107.1
104.4
105.9
1973 Annual Survey of Manufactures, a restatement of the level of new and unfilled orders,
and a recomputation of seas, factors. Revised monthly data are available from the Bureau
of the Census, Wash., D.C. 20233.
107.3
107.4
SIJEVEY OF CURKENT BUSINESS
May 19T6
1975
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
Annual
S-5
1975
Mar.
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
r
151. 6 ' 155. 1 ^156.3
151.1
156.3 ' 156. 8 'r 159. 8 ^160.6
128.7 r 123. 6 r 125. 7 p 127. 5
151.2 ' 156. 0 162. 4 P164.3
Jan.
Feb.
Mar.
Apr.*
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PROD (JCTIONJ— Continued
Federal Reserve Index of Quantity Output— Con.
Seasonally ad justed— Continued
By industry groupings— Continued
Manufacturing, total— Continued
N ondurab le manufactures— C ontinued
Chemicals, petroleum, and rubber 1967=100.
Chemicals and products
do
Petroleum products
__do
Rubber and plastics products
do
Foods and tobacco
Foods
Tobacco products
140.3
143.2
124.5
142.7
130.2
133.6
120.1
126.8
131.0
132.8
120.2
133.5
132.4
135.7
118.5
132.7
136.2
138.2
122.4
140.1
140.1
143.4
124.6
141.6
143.6
146.3
126.7
147.8
146.2
148.8
127.1
152.0
148.5
152. 5
126.5
153.1
150.2
155.2
126.8
151.5
124.8
126.2
106.4
124.5
125.9
107.3
120.0
121.3
102.6
122.5
122.9
115.9
122.4
123.7
103.8
123.5
125.1
102.2
124. 8
126.3
104.8
125.2
126.7
105.7
126.0
127.4
109.3
126.3
127.3
111.9
128.0 r 129. 4 r 130. 3
129.1
130.7 '131.5
113.7
109.9 r 114. 1
do
do
do
-do
do_
do
do
do
127.3
109.3
129. 2
109.1
107.3
105.1
107.7
99.8
127.5
106.6
121. 7
101. 7
105.8
113.8
104.6
95.0
128.8
108.9
125.4
105.1
107.7
117.4
106.1
95.9
128. 0
108.5
125.8
104.7
107.4
112.2
106.6
95.0
126.5
105.9
114.8
100.4
105.8
113.6
104.5
94.3
126.8
106.3
110.6
95.3
107.6
120.4
105.5
95.7
127.5
106.4
110.3
101.4
106.7
120. 6
104.5
95.5
127.0
105.0
119.2
98.9
104.4
105.7
104.2
94.7
127.8
105.3
118.5
99.5
104.8
113.6
103.4
93.6
127.0
106.4
119.8
100.0
106.1
114.6
104.8
94.6
127.6
106.9
122.1
101.7
105.9
119.9
103.8
93.9
do
do
do
149.9
159.5
117.9
153.7
164.7
117.1
154.1
165.3
153.1
164.2
152.3
163.0
152.6
163.3
153.9
164.9
154.6
165.9
156.1
167.8
152.9
163.4
153.9 ' 155. 7 r 159. 2 ' 159. 9
172.0
167.6
165.0
do
do
. do
.
Mining and utilities
._
Mining
Metal mining
Stone and earth minerals
Coal oil and gas..
Coal
Oil and gas extraction
Crude oil - ..
151.7
154.3
124.0
164.4
_ .
Utilities
Electric
Gas
r
r
155.9
161.0
129.6
129. 5 P 129. 1
130. 7 P 130. 1
115.8
129.6
130.7
127.7 'r 129. 3 ' 128. 5 P 130. 8
105. 5 -103.6
105.4
106.9
124.8 r 126. 7
120.9
127.7
103.6 '104.9
99.6
104.8
104.7 ' 103. 8 ' 101. 1 105.0
109.4 ' 115. 0
126.4
107.8
104.3 r 102. 9 '98,9
101.7
93.4
93.9
91.4
92.3
131.1
108.3
160.9
162.2
104.3
119.4
101.9
BUSINESS SALES §
mil. $__ 1,967,894 2,016,110 161,156 163,855 167,972 171,020 163,933 171,052 176,198 182,167 172,665 181,205 166,119 ' 172,930 189, 181
Mfg. and trade sales (unadj.), totalcfA
Mfg. and trade sales (seas, adj.), totalcf A
Manufacturing, total d" A
Durable goods industriescfA
Nondurable goods industries,.
Retail trade, total.. ._
Durable goods stores
Nondurable goods stores
_
do
1,967,894 2,016,110 159,176 162,744 163,349 165,803 169,251 172,301 173,353 175,017 173,826 176,966 179,027 ' 182,329 185, 263
do
do
do
1
_ __.
do
do
_do
Merchant wholesalers, total O-Durable goods establishments
Nondurable goods establishments.
do
do
do
981, 985 1 992,687
512,922 498, 325
469, 063 494, 362
77, 635
39,250
38,385
80, 703
41, 221
39, 482
79, 734
40, 494
39,240
81, 039
40, 757
40,282
83, 029
41, 354
41,675
85, 210
42, 444
42,766
86,200
43, 192
43,008
87, 403
43, 607
43,796
86, 515
42, 352
44, 163
87, 616
43, 681
43, 935
89, 276 ' 90,912
44, 570 ' 45,700
44, 706 ' 45,212
92, 782
47, 446
45, 336
'537,782 i 584,423
167,313 180, 725
370, 469 403, 698
45,951
13,378
32,573
46,813
14,165
32, 648
48,173
14,703
33,470
48,578
14,965
33,613
49,655
15,432
34,223
49,925
15,506
34,419
49,549
15,440
34,109
50,165
15,775
34,390
50,293 51, 990
15,763 16, 877
34,530 35, 113
51, 592 ' 52,601
16, 730 r 17,397
34, 862 ' 35,204
53, 272
17, 293
35, 979
35,590
14,992
20,598
35, 228
15,007
20, 221
35,442
15,024
20,418
36, 186
14,995
21,191
36,567
15,329
21,238
37,166
15187
21,979
37,604
15,919
21,685
37,449
15,717
21,732
37,018 37, 360
15,779 16, 128
21,239 21, 232
38, 159 ' 38,816
16, 754 ' 17,052
21, 405 ' 21,764
39, 209
16, 996
22, 213
i 448,127
202,341
245, 786
1
439,000
185, 922
253, 078
BUSINESS INVENTORIES §
Mfg. and trade inventories, book value, end of year
or month (unadj.), total f®
mil. $
Mfg. and trade inventories, book value, end of year
or month (seas, adj.), total t©
mil $
268,513
262, 801 270,344 269,779 266,735 264,342 262,275 260,949 262,128 267,112 268,586 262,801 264,659 ' 268,047 271, 589
271,050
264, 770 268,449 266,970 264,335 263,749 263,345 264,662 265,087 266,867 266,064 264,770 266,285 ' 267,979 269, 537
146,574
95, 754
50, 820
Manufacturing, total
Durable goods industries
Nondurable goods industries
do
do
do
150, 404
97, 967
52, 437
Retail trade, totalf.. .
Durable goods stores. _ _ _
Nondurable goods stores
do
do
do
74, 082
34, 649
39, 433
73, 081
33, 592
39, 489
Merchant wholesalers, total O
Durable goods establishments
Nondurable goods establishments
do
do
do
46,564
27, 779
18, 785
45, 115
27, 476
17, 639
151,194 150,184 148,951 148,059 147,189 146,583 146,413 146,510 146,671 146,574 147,030 r' 147,328 148, 090
99,879 99, 803 99,378 98,796 98,189 97,199 96,640 96,215 95, 953 95, 754 95, 664 95,696 96, 038
51,315 50, 381 49,573 49,263 49,000 49,384 49,773 50,295 50, 718 50, 820 51, 366 ' 51,632 52, 052
71, 728 71,483 70,826 70,840 71,503 72, 578 73,049 74, 642 73,839 73, 081 73, 610 74, 344 75,089
32,460 32, 375 32, 086 31, 909 32,270 33, 324 33,471 33,813 33,712 33, 592 33, 510 33, 490 33, 920
39, 268 39, 108 38, 740 38, 931 39,233 39, 254 39,578 40, 829 40, 127 39, 489 40,100 40, 854 41, 169
45,527 45, 303 44,558 44,850 44,653 45,501 45,625 45,715 45, 554 45, 115 45, 645 rr 46,307 46, 358
28,134 28, 019 27,652 27,605 27,244 27,266 27,369 27,566 27, 532 27, 476 27, 998 28,308 28, 266
17,393 17, 284 16,906 17,245 17,409 18,235 18,256 18,149 18, 022 17, 639 17, 647 ' 17,999 18, 092
BUSINESS INVENTORY-SALES RATIOS
ratio
1.50
1.59
1.69
1.64
1.62
1.59
1.56
1.54
1.53
1.52
1.53
1.50
1.49
1.47
1.45
Manufacturing, totalcf A
Durable goods industries c? A
Materials and supplies.. ..
Work in process
Finished goods. _ _
do
do
do
do
do
1.65
2.06
.67
.91
.48
1.80
2.36
.79
1.00
.58
1.95
2.54
.87
1.06
.61
1.86
2.42
.82
1.02
.59
1.87
2.45
.82
1.04
.60
1.83
2.42
.80
1.03
.59
1.77
2.37
.78
1.02
.58
1.72
2.29
.75
.98
.56
1.70
2.24
.73
.95
.56
1.68
2.21
.71
.94
.55
1.70
2.27
.73
.97
.56
1.67
2.19
.71
.94
.55
1.65
2.15
.70
.91
.53
1.62
2.09
.68
.89
.52
1.60
2.02
.66
.86
.50
Nondurable goods industries
Materials and supplies.
Work in process
Finished goods
..
do
do
do
do
1.19
.47
.19
.53
1.23
.48
.18
.56
1.34
.53
.19
.62
1.28
.50
.19
.59
1.26
.50
.19
.58
1.22
.48
.18
.56
1.18
.46
.18
.54
1.15
.45
.18
.53
1.16
.45
.18
.53
1.15
.45
.17
.53
1.15
.44
.17
.53
1.16
.45
.18
.53
1.15
.44
.18
.53
1.14
.44
.17
.52
1.15
.45
.17
.53
do
do
do
1.54
2.22
1.23
1.49
2.20
1.17
1.56
2.43
1.21
1.53
2.29
1.20
1.47
2.18
1.16
1.46
2.13
1.16
1.44
2.09
1.15
1.45
2.15
1.14
1.47
2.17
1.16
1.49
2.14
1.19
1.47
2.14
1.16
1.41
1.99
1.12
1.43
2.00
1.15
r
' 1.41
1.93
1.16
1.41
1.96
1.14
1.13
1.45
.87
1.24
1.79
.84
1.28
1.88
.84
1.29
1.87
.85
1.26
1.84
.83
1.24
1.84
.81
1.22
1.78
.82
1.22
1.80
.83
1.21
1.72
.84
1.22
1.75
.84
1.23
1.74
.85
1.21
1.70
.83
1.20
1.67
.82
1.19
'1.66
.83
1.18
1.66
.81
43, 123
50, 679
4,333
4,068
4,277
4,203
4,385
4,224
4,584
4,468
4,001
4,475
3,788
4,184
4,346
4,390
4,711
4,673
4,211
4,152
4,797
4,355
4,156
4,424
4,431
4,592
5,191
4,867
___do
981, 985 992, 687 80, 283 81, 827 80, 361
Durable goods industries, total 9 cf A
do
512, 922 498, 325 40, 901 42, 112 41, 349
Stone, clay, and glass products.
do
26, 690
26, 269
1,997
2,217
2,229
Primary metals A
do
93, 673 77, 651
6,679
6,279
6,679
Blast furnaces, steel mills A
do
47, 424
40, 353
3,617 3,545
3,205
Nonferrous metals
do
33, 248
24, 156
1,922
1.964 1,972
r
J
Revised.
p Preliminary.
e Estimated.
Based on data not seasonall y adjust ed.
2
Advance estimate; total mfrs. shipments for Mar 1976 do n ot reflect revisions for selected
components.
cf See corresponding note on p. S-6.
§The1,erm"bu!= iness" h ?-re inclu des
only manufacturing and trade; business inventories a5 shown ori p. S-l cover data for all ty pes
of producers, both farm and nonfarm. Unadjusted d ata for mimufacturi ng are silown bel ow
on pp. S-6 and S-7; those for wholesale and retail tra de on pp. S-ll and S-12.
tSee note marked "1" on n. S-19- r<wisirm<: for in™
•»• v^-t-^;i 4
1-.. 1
85, 580
76, 991
83, 775
90,068
90, 552
86, 312
82, 693
83,362 ' 91,827
95, 892
Manufacturing and trade, total d" ©
Retail trade, total t
Durable goods stores _.
Nondurable goods stores .
Merchant wholesalers, total 0
do
Durable goods establishments
do
Nondurable goods establishments
do
MANUFACTURERS' SALES, INVENTORIES
AND ORDERS
Manufacturers' export sales.
Durable goods industries:
Unadjusted, total
mil $
Seasonally adj., total..
.
do
Shipments (not seas, adj.), totalcfA
43, 785 37, 487 40, 881 45, 285 45, 491 42, 329 40, 760 41, 265 46, 129 '49, 439 249,054
2,016 ' 2, 209
2,483
2,321
2,355 2,424 2,541 2,233 1,966
2,216
6,554
6,910 ' 7, 602 27,570
6,350 5,520 6,222 7,025 6,553 6,251 5,876
3,529 'r 3, 587 3,963
3,195
2,780 3,094 3,707 3,166 3,065 3,050
2,368
1,907
1,957
2, 141
2,014
1,824
2,089 2,173 2,170 2,103
durabl e, and ncmdurabl e for Jan 1971-Ju ly 1974 a ppear on pp. 26 ff of the N ov. 1975 iSURVEY.
9 Ineludes d ata for i terns no t shown separate ly.
i 3ee note marked "cf" on p. S-4.
ASe e corresp ending n ote on p S-4.
©R(^visions for this i tern for Jan. 1964-Dec. 1970 (inv entories) appear on pp. 44 ff . of the
Dec. 1974 SURV EY; those> for Jan. 1971-Jul y 1974 ar)pear on pp. 26 ff. of the N(3V. 1975 k SURVEY.
OSee note m arked "t ' on p. S-11.
SURVEY OF CUKRENT BUSINESS
S-6
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1974
1975
1975
Annual
May 1976
Mar.
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
5,106
7,162
5,298
9,695
6,957
1,425
Feb.
Mar.
Apr.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
Shipments (not seas, adj.)— Continued
Durable goods industries— Continued
Fabricated metal products
Machinery, except electrical
Electrical machine^'
Transportation equipment cf
Motor vehicles and parts
Instruments and related products
mil. $._ 61, 271
86, 572
do
66, 741
do
109, 521
do
do
72, 120
do
16, 053
61, 550
90, 485
64, 388
110, 991
73, 220
17, 176
4,783
7,900
5,211
9,062
5,727
1,358
5,183
7,789
5,299
9,381
6,166
1,373
5,053
7,507
5,240
9,492
6,234
1,362
5,248
8,122
5,630
10,131
6,659
1,493
4,844
6,650
4,902
7,927
5,012
1,319
5,307
6,848
5,339
8,748
5,613
1,443
5,677
7,660
5,807
10, 251
7,181
1,611
5,703
7,656
5,890
10, 808
7,530
1,598
5,191
7,255
5,684
9,852
6,742
1,549
5,152
7,413
5,471
9, 229
6,106
1,565
5, 663
' 8, 063
' 5, 927
11, 236 '
' 7, 876
1,484
42,097 ' 45, 698
13,726 ' 14, 302
'604
615
2,971 ' 3, 266
6,060
8,559
6,103
11,973
8,572
1,595
2
12,018
46, 567
14, 673
670
3,536
do
do
do
do
469,063
156, 744
6,926
33, 097
494, 362
166, 080
7,423
32, 941
39,382
13, 548
591
2,543
39,715
13,535
585
2,446
39, 012
13, 256
605
2,528
41,795
14,059
627
2,924
39,504
13,346
621
2,482
42,894
14,059
647
2,986
44, 783
14, 872
582
3,209
45,061
14,805
637
3,273
43,983
14,258
723
3,177
41,933
13,867
651
3,026
do
do
do
do
39, 812
81, 377
56, 852
23, 416
40, 376
85, 967
64, 649
23, 884
3,164
7,011
4,875
1,914
3,185
7,183
4,982
1,998
3,171
7,007
4,988
1,957
3,419
7,374
5,376
2,116
3, 185
6,630
5,427
1,910
3,471
7,296
5,865
2,065
3,609
7,878
5,742
2,153
3,650
7,699
5,788
2,170
3,650
7,427
5,916
2,037
3,475
7,151
5,858
1,825
3,602
7,385
5,839
1,932
' 3, 992
' 8, 239
' 6, 132
' 2, 199
3,917
8,661
5,757
2,329
do
77,635
80,703
79,734
81,039
83,029
85,210
86,200
87,403
86,515
87,616
89,276
90, 912
92, 782
do
do
do
do
do
39,250
2,000
6,269
3,378
1,813
41,221
2,181
6,338
3,408
1,822
40,494
2,140
6,022
3,089
1,852
40,757
2,119
5,961
3,043
1,861
41,354
2,249
6,048
2,992
2,057
42,444
2,203
6,424
3,118
2,208
43,192
2,265
6,977
3,717
2,138
43,607
2,391
6,543
3,187
2,183
42,352
2,263
6,415
3,132
2,161
43,681
2,223
6,409
3,343
2,068
44, 570
2,329
6,775
3,590
2,058
45, 700 ' 47,546 2 48,011
2, 485
' 2, 392
6,780 ' 7, 140 "2"7,"l9l"
3,704
'r 3, 534
2,234
2, 086
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment cf A
Motor vehicles and partsA
Instruments and related products
do
do
do
do
do
do
4,690
7,291
5,066
8,776
5,600
1,358
5,113
7,471
5,448
9, 132
5,952
1,402
5,033
7,326
5,414
9,033
5,936
1,365
4,898
7,380
5,306
9,456
6,193
1,402
5,184
7,285
5,368
9,513
6,422
1,412
5,226
7,300
5,472
10, 037
6,765
1,438
5,304
7,398
5,453
9,823
6,785
1,481
5,511
7,776
5,634
9,736
6,429
1,530
5,250
7,832
5,526
9,103
6,006
1,520
5,396
7,730
5,434
10,296
7,262
1,580
5,621
7,654
5,813
10, 268
7,071
1,585
5,735
' 7, 723
' 5, 878
10, 946 '
' 7, 597
' 1, 531
Nondurable goods industries, total 9
Food and kindred products
Tobacco products
Textile mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
do
do
do
do
do
do
do
do
38, 385
13, 313
606
2,391
3,037
6,711
4,901
1,821
39,482
13,844
605
2,484
3,165
6,637
5,014
1,889
39, 240
13,435
598
2,589
3,193
6,611
5,064
1,897
40,282
13,675
582
2,751
3,270
6,944
5,272
1,976
41,675
13,893
607
2,884
3,382
7,232
5,477
2,070
42,766
14,165
625
2,933
3,432
7,496
5,890
2,063
43,008
14,073
562
3,053
3,516
7,618
5,731
2,106
43,796
14,275
639
3,008
3,580
7,762
5,871
2,098
44,163
14,064
718
3,138
3,712
7,814
5,967
2,113
43,935
14,007
667
3,122
3,686
8,016
5,784
2,021
44,706 '45,212 45, 336
14,597 '14,362 14, 422
688
652 r '635
3,323
3, 295
3,228
3,756
3,729 '3,911
8,294
7,931 '8,057
5,818 ' 5, 972 5,788
2,216
2,084 ' 2, 173
Nondurable goods industries total 9
Food and kindred products
Tobacco products
Textile mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
Shipments (seas, adj.), totalcf A
By industry group:
Durable goods industries total 9 cf A
Stone, clay, and glass products
Primary metalsA _
Blast furnaces, steel millsA
Nonferrous metals
By market category:
Home goods and appareldo
Consumer staples
do
Equipment and defense prod. , excl. auto cf do
Automotive equipment A
do
Construction materials and supplies
do
Other materials and suppliesA
do
Supplementary series:
Household durables
do
Canital goods industriescf
do
Nondefense cf .
do
Defense cf
do
5,941
7,894
5,923
11,658
8,412
1,592
i 87, 844
1188,087
1 128, 361
1
87, 053
177,174
1 413,466
i 88, 368
i 201,977
i 135,032
i 86, 573
i 74, 522
i 406,215
6,554
16, 211
11, 094
6,581
5,545
31,650
7,075
16,717
11,349
7,045
5,972
32,545
7,128
16, 300
11,145
7, 029
6,104
32,028
7,152
16,790
11,275
7,309
5,957
32,556
7,494
17,171
11,064
7,586
6,378
33,336
7,623
17, 193
11,175
7,974
6,311
34,934
7,883
17,067
11, 109
7,933
6,492
35,716
8,138
17,390
11,712
7,626
6,708
35,829
8,127
17,296
11,401
7,173
6,581
35,937
8,135
17,177
11,392
8,406
6,777
35,729
8,251 ' 8, 345
17,831 '17,717
11,513 '11,716
8,262 ' 8, 849
6,849 ' 7, 052
36,570 '37,233
i 38, 873
1 147, 601
i 128, 725
i 18, 876
i 39, 368
i 150,739
i 130,347
i 20, 392
2,918
12,484
10, 770
1,714
3,169
12,698
10, 956
1,742
3,228
12, 372
10, 704
1,668
3,202
12, 567
10, 901
1,666
3,366
12,315
10, 748
1,567
3,431
12, 544
10,812
1,732
3,526
12,409
10, 744
1,665
3,618
13,044
11, 178
1,866
3,564
12, 713
10, 977
1, 736
3,526
12,594
10,933
1,661
3,602
12,811
10, 959
1,852
do
do
do
149, 762
97, 198
52, 564
146, 177
95, 167
51, 010
151,930
100,482
51, 448
151,351
100,729
50,622
150,109
100,276
49, 833
148,160
98,910
49,250
146,494 145,976 145,037
97,869 97,017 95, 927
48,625 48,959 49, 110
145,646
95,542
50,104
146,101 146,177
95,429 95,167
50,672 51,010
147,458 '148,093 148, 857
95,625 '96,039 96, 629
51,833 '52,054 52,228
do
150, 404
146, 574
151,194 150,184
do
do
do
do
do
97, 967
3,721
11,861
5,747
4,369
99, 879
3,781
13, 381
6,920
4,661
99,803
3,773
13,770
7,234
4,764
99, 378
3,728
14, 114
7,525
4,807
98,796
3,692
14,295
7, 769
4,788
147,189 146,583 146,413 146,510 146,671 146,574
98,189 97,199 96, 640 96,215 95,953 95,754
3,630
3,661
3,585
3,651
3,605
3,613
14,282 14,090 13, 789 13,776 13,898 13,924
7,627
7,761
7,618
7,832
7,536
7,498
4,696
4,720
4,683
4,655
4,774
4,669
147,030 '147,328 148, 090
95, 754
3,630
13, 924
7,627
4,696
Fabricated metal products
do
Machinery, except electrical
do
Electrical machinery
do
Transportation equipment
do
Motor vehicles and parts
do
Instruments and related products. _do
11, 793
21, 552
14, 684
21, 000
6,697
4,329
10, 979
20, 988
13, 196
21, 171
5,917
3,830
12,090
22, 400
14, 347
21, 120
6,266
4,132
11,885
22,478
14,088
21,335
6,296
4,045
11, 678
22, 312
13, 837
21, 336
6,188
4,018
11,407
22,116
13,580
21,494
6,354
3,966
11,285
21,984
13,444
21,481
6,255
3,922
11,091
21,894
13,325
21,116
5,915
3,947
11,028
21,713
13, 212
21, 357
5,991
3,835
10,914
21,503
13,245
21,300
6,002
3,818
10,970
21,105
13,237
21,368
5,978
3,817
10,979
20,988
13,196
21,171
5,917
3,830
11,011
20,976
13,168
21,113
5, 987
3,850
By stage of fabrication:
Materials and supplies 9
do
Primary metals
do
Machinery (elec. and nonelec.)___do
Transportation equipment
do
33, 393
5,408
11, 277
4,866
30, 796
6,237
10, 161
4,490
34, 304
6,238
11, 553
4,797
33,738
6,357
11,323
4,714
33, 090
6,411
11, 125
4,636
32,676
6,478
10,922
4,761
32,159
' 6,462
10,723
4,789
31,626
6,277
10,683
4,629
31,370
6,244
10, 551
4,696
31,072
6,238
10,393
4,600
30,980
6,333
10,228
4,640
30,796
6,237
10,161
4,490
31,176 '31,148
6,384 ' 6, 438
10,200 '10,081
4,484 ' 4, 565
Work in process 9
do
Primary metals .
do
Machinery (elec. and nonelec.)---do
Transportation equipment
do
41, 506
3,728
15, 887
14, 247
41, 031
4,330
14, 657
14, 742
41, 513
4,043
15, 523
14, 420
41,939
4,206
15,556
14,697
42, 022
4,410
15, 349
14, 753
41,917
4,439
15,169
14,822
42,031
4,491
15,208
14,756
41,692
4,471
15,080
14,535
41, 177
4,288
14,878
14, 713
41,175
4,267
14, 913
14,784
41,140
4,279
14,706
14,851
41,031
4,330
14,657
14,742
40,779 '40,805 40, 751
4,278 ' 4, 278 4,281
14,572 '14,438 14,338
14,695 '14,875 14, 958
Finished goods 9
do
Primary metals
do
Machinery (elec. and nonelec.)___do
Transportation equipment
do
23, 068
2,725
9,072
1,887
23, 927
3,357
9,366
1,939
24, 062
3,100
9,671
1,903
24,126
3,207
9,687
1,924
24, 266
3,293
9,675
1,947
24,203
3,378
9, 605
1,911
23,999
3,329
9,497
1,936
23,881
3,342
9,456
1,952
24, 093
3,257
9,496
1,948
23,968
3,271
9,442
1,916
23,833
3,286
9,408
1,877
23,927
3,357
9,366
1, 939
23,709 '23,743
3,241 ' 3, 208
9,372 ' 9, 438
1,934 '1,902
Nondurable goods industries, total 9. .do
Food and kindred products
do
Tobacco products
do
Textile mill products
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 supplies. _
do
Work in process.
do
Finished goods
_
do
52, 437
12, 425
2,950
4,812
4,737
10, 605
3,925
3,267
50, 820
11, 738
3,255
4,589
4,552
10, 861
4,313
2,989
51, 315
11, 752
3,069
4,380
4,856
10, 887
4,203
3,173
50,381
11,480
3,037
4,267
4,738
10,931
4,157
3,069
49, 573
11, 079
3,059
4,226
4,658
10, 888
4,066
3,055
49,263
10,702
3,095
4,200
4,597
10,921
4,107
3,053
49,000
10,679
3,121
4,243
4,489
10,683
4,144
3,022
49,384
10,992
3,149
4,314
4,582
10,821
4,158
2,956
49, 773
11,362
3,113
4,384
4,573
10, 783
4,212
2,941
50,295
11,687
3,262
4,473
4,571
10,750
4,242
2,964
50,718
11,909
3,248
4,610
4,573
10,836
4,301
2,925
50,820
11,738
3,255
4,589
4,552
10,861
4,313
2, 989
51,366 '51,632 52, 052
11,858 '11,774 11,870
3,244 ' 3, 371
3,350
4,645
4,681 ' 4, 709
4,684 ' 4, 686 4,733
11,037 '11,039 11,067
4,492
4,321 ' 4, 378
3,059
3,053 ' 3, 036
20, 727
8,044
23, 666
19, 671
7,751
23, 398
20, 181
7,463
23, 671
19,734
7,481
23,166
19, 503
7,323
22,747
19,232
7,407
22,624
19,135
7, 457
22,408
19,130
7,540
22,714
19, 203
7,639
22, 931
19,657
7,635
23,003
19,526
7,722
23,470
19,671
7,751
23,398
19,892 '20,022
7,830 ' 7, 905
23,644 '23,705
Inventories, end of year or month:
Book value (unadjusted), total
Durable goods industries total
Nondurable goods industries, total
Book value (seasonally adjusted) total
By Industry group:
Durable goods industries, total 9
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
Nonferrous metals
148,951 148,059
r
l
2
Revised.
Based on data not seasonally adju sted.
Advance estimate total m rs.
shipments for Mar. 1976 do not reflect revisions for s elected co mponent.5.
cfA s a resul t o f
corrections in the aircraft, missiles, and parts indus try data for this cc mponen ; have be;en
revised by the Bureau of the Census back to 1968. B evised da ta prior t<> May 19'r3 appear in
2
11,684
8,175
17, 930
11,815
9,755
7,336
37, 771
3,652 r 3, 708
13, 124 ' 13,380
11,225 ' 11,495
1,899 ' 1, 885
2
3, 783
2
13,663
2
11,801
2
1, 862
95,664 '95,696 96, 038
3,632 ' 3, 576 3,588
13,903 '13,924 14, 016
7,836
7,718 ' 7, 764
4,643
4,636 ' 4, 653
' 10, 958
'20,821
' 13, 136
'21,342
' 6, 083
' 3, 790
10, 955
20, 794
13, 121
21, 486
6,138
3,753
31, 402
6,524
10, 105
4,593
23, 885
3,211
9, 472
1,935
20, 227
7,902
23, 923
two C ensus Biireau pu olication s, "Char ge Sheet s" to M frs'. Shif ments, ] nventori es, and
9 Ineludes d£itafor ite>ms not
Orders : 1967-73 (Series: M3-1.5), issued Jime and J uly 1974
shown separate ly.
A See com spondin I note on p. S-4.
May 1976
SURVEY
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
OF CUREENT BUSINESS
1975
1975
Annual
S-7
Mar.
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
Inv entorles, end of year or month— Continued
Book value (seasonally adjusted)— Continued
By market category:
Home goods and apparel
mil. $
Consumer staples
_
_ _
do
Equip, and defense prod., excl. auto
do
Automotive equipment
do
Construction materials and supplies
do.
Other materials and supplies
do
Supplementary series:
Household durables
. __
do_ _
Capital goods industries
do
Nondefonse
do
Defense
- - -do
New orders, net (not seas, adj.), total cf A
Durable goods industries, total of A- Nondurable goods industries, total .__
do
do
do.
Now orders net (seas adj ) total cf A
By industry group:
Durable goods industries, total 9 cf A
Primary metals A
Blast furnaces steel mills A
Nonferrous metals
do
14, 900
19,530
37, 967
8,475
13, 195
56, 337
12, 835
19, 264
37, 861
7,436
12, 639
56, 539
13, 582
19, 538
39, 226
7,967
12, 996
57, 885
13, 071
19, 232
39, 369
7,934
12, 915
57, 663
12,805
18,969
39,200
7,821
12,890
57,266
12, 623
18, 623
38, 959
7,964
12, 806
57, 084
12,653
18,472
38,844
7,824
12, 736
56,660
12,421
18,803
38,739
7,444
12,776
56,400
12,456
19,010
38,723
7,556
12,721
55,947
12,565
19,463
38,466
7,549
12,558
55,909
12,691
19,525
38,238
7,498
12,560
56,159
12,835
19,264
37,861
7,436
12,639
56,539
12,710
19,466
37,711
7,495
12,704
56,944
7 522
42, 482
35, 939
6,543
6,430
42, 462
34, 656
7,806
7,070
43,713
36, 846
6,867
6,807
43,945
36, 967
6,978
6,684
43,774
36,664
7,110
6,511
43, 529
36, 162
7,367
6,394
43,439
35,984
7,455
6,280
43,346
35,771
7,575
6,247
43,232
35,545
7,687
6,325
43,022
35,292
7,730
6,361
42,869
35,045
7,824
6,430
42,462
34,656
7,806
6,212 ' 6, 253 6,449
42,310 ' 42,350 42, 351
34,668 r 34,505 34, 293
7,642 ' 7, 845
8,058
1,002,135 976, 209
534,027 480, 580
. 468, 106 495, 616
77,343
37,910
39, 431
79,129
39,256
39, 866
77,840
38,723
39,116
83,732
41,742
41,989
78, 524
38, 839
39,685
83, 717
40, 707
43,009
88,838
43,910
44,928
89,252
43,933
45,319
85,649
41,446
44, 203
81,877
40,032
41,845
83,037 r 92,040
40, 724 46, 181
42,313 ' 45,859
2
2 1,002,135 976,209
74,175
78,008
78,900
79,789
83,304
85,137
85,482
86,336
86,351
86,754
88,190 r 90,243
93, 366
43,284
6,615
3,770
1,949
45, 017
6,678
'3,434
f
2, 123
48, 032
7,333
3,748
2,440
5,405
7,363
5,860
9,621
1, 619
' 5, 575
' 7, 404
' 6, 043
10, 643
' 1,737
5,583
7,521
6,068
12, 570
2,800
' 12,840
'r 19,527
37,695
r 7, 582
' 12,605
r 57,079
13, 193
19, 591
37, 706
7,654
12, 673
57, 273
96, 909
50, 283
46, 626
do
do
do
do
534,027
97, 233
49,036
33, 855
480, 580
71, 112
35, 922
23, 399
35,785
4,773
2,156
1,683
38,391
4,802
2,114
1,734
39,575
6,010
3,132
1,937
39,282
5,439
2,761
1,826
41,435
5,943
2,885
2,057
42,175
6,397
3,136
2,173
42,256
6,294
3,168
2,165
42,307
6,579
3,334
2,161
41,988
6,472
3,272
2,177
42,837
6,657
3,695
2,068
Fabricated metal products
Machinery except electrical
Electrical machinery
Transportation equipmentcf A
Aircraft missiles and partscf
do
do
do
do
do
65, 824
94, 070
67, 646
113,431
27, 322
59, 524
84, 973
62, 376
108, 466
24, 154
4,449
6,759
4,662
8,186
1,846
4,813
6,946
5,316
8,738
1,736
4,844
7,117
5,183
8,769
1, 974
4,700
6,984
5, 153
9,194
2,021
5,111
7,368
5,279
9, 793
2,222
5,179
6,929
5,809
9,758
2,016
5,196
7,120
5,144
9,982
1,885
5,282
7,425
5,510
9, 371
2,041
5,302
7,629
5,595
8,741
2,077
5,163
7,118
4,941
10,477
2,105
Nondurable goods industries total
Industries with unfilled orders©
Industries without unfilled ordersf
do
do
do
468, 106
110, 046
358, 060
495, 616
113, 539
382, 077
38, 390
8,484
29, 906
39, 617
8,911
30, 706
39,325
9, 010
30,315
40, 507
9,346
31,161
41,869
9,740
32,129
42,961
9,806
33,155
43,226
10,166
33,060
44,029
10,295
33,734
44,363
10,492
33,871
43,917
10,138
33,779
44,906 r 45,226
10,597 r 10,711
34,309 r 34,515
45, 334
10, 655
34, 679
2
2
88, 371
87, 313
2 188,082 22 202,024
22139,226 2130,784
86, 755 2 85, 336
2
72, 896
80, 740
2 420,017 2 396,766
6,474
16, 197
10, 228
6,478
5,339
29,459
7,148
16, 716
10, 967
6, 930
5,664
30,582
7,129
16,293
10,910
6, 988
5,894
31,686
7,185
16, 807
10, 964
7,155
5,803
31,875
7,582
17,176
10,976
7, 589
6,233
33,748
7,648
17,220
11,442
7,845
6,316
34,666
7,934
17,078
10,961
8,004
6,309
35,196
8,138
17,378
10,870
7,491
6,452
35,795
8,164
17,295
11,409
6,951
6, 642
35,890
8,108
17,187
10,733
8,536
6,822
35,368
8,249 r 8, 287
17,866 r 17,701
10,688 ' 11,386
8,480 ' 8, 845
6,755 «• 6, 938
36,152 r 37,086
8,254
17, 933
11,486
10, 066
6,780
38, 847
2
39, 314
160,802 22 144,343
123,137
2 137,933 2
2
21, 206
22, 869
2,830
11, 224
9,522
1,702
3,228
11, 948
10, 309
1,639
3,218
11, 961
10, 302
1,659
3,217
12, 047
10, 138
1,909
3,440
12, 546
10, 728
1,818
3,466
12, 440
10, 392
2,048
3,555
13,205
10, 214
1,991
3,629
11, 885
10, 689
1,196
3,619
12, 440
10, 690
1,750
3,492
11,657
10,156
1,501
3,588
11,848
10, 351
1,497
3,601
12, 536
10, 710
1,826
3,616
13, 663
11,003
2,660
123,749
119,243
4,506
122,519
117,868
4,651
121,217 120,557 119,739 119,417 '119,636 120, 651
212 115, 168
116,306 115,426 114,698 114, 158 114,
5,483
5,041
5,131
5,259 r 5, 424
4,911
By market category:
Home goods and apparel
do
Consumer staples _
do
Equip, and defense prod., excl. auto.cf ...do
Automotive equipmentA
do
Construction materials and supplies
do _
Other materials and suppliesA
_do___
Supplementary series:
Household durables
do
Capital poods industriescf
do
Nondefensecf
do
Defensecf.
do
Unfilled orders, end of year or month (unadjusted),
totalcfA
v
mil $
Durable goods industries, total d" A
do
Nondur. goods ind. with unfilled orders®
do
Unfilled orders, end of year or month (seasonally
adjusted), total cf A
mil. $
By industry group:
Durable goods industries, total 9 cf A
do
Primary metalsA
do
Blast furnaces, steel millsA.
- do
Nonferrous metals
do
Fabricated metal products
do
Machinery, except electrical
do
Electrical machinery...
do
Transportation equipmentcf
do
Aircraft, missiles, and partscf
do
Nondur. goods ind. with unfilled orders©. .do
By market category:
Home goods, apparel, consumer staples... do
Equip, and defense prod., incl.auto.cf
do
Construction materials and supplies
do
Other materials and suppliesA
do.__
Supplementary series:
Household durables
do
Capital goods industriescf
dc
Nondefense cf
do. . .
Defensecf
~I~~II~do~I~
2
38,411
2
136,226
132,444
3,782
119, 739
114, 698
5,041
129,349 126,643 124,122 122,274 123,807
125,590 122,734 120,108 118,065 119,417
4,014
3,909
3,759
4,209
4,390
137,328
120, 659
128,043 125,347 124,513 123,271
133,440
20, 698
13, 751
3,411
115, 494
14, 084
9,287
2,629
19, 710
29, 592
20, 575
34, 375
21, 487
3,888
17, 686
25, 044
18, 564
31, 848
20, 639
5,165
19, 013
27, 905
19, 709
33, 153
21, 109
3,699
2,317
65, 981
17, 773
51, 257
2,384
60, 437
16, 110
41, 728
1,769
74, 930
50,318
24, 612
319, 149
123,545 123,477
122,761 121,697
121,530 120,659
119, 576 '118,907 119, 493
115,494 114, 209 113, 524 114, 109
14,084 13, 920 13, 817 14, 022
9,406
9, 463 ' 9, 362
9, 287
2,521 r 2, 557
2,763
2,629
124,344 121,512 120,593 119,123 119,203
16,624 15,088 15,077 14,556 14,452
9,525
9, 568
10,819
9,286
9, 179
2,664
2,749
2,752
2,714
2,714
118,940
14,424
9,196
2,679
118,004
13,740
8,647
2,705
116,710 116,342
13,778 13,836
8,795
8,935
2, 700
2,684
18, 712
27, 381
19, 577
32, 759
20, 755
3,835
18,523
27,169
19,346
32, 495
20,710
3,920
18, 326
26, 776
19, 173
32, 236
20, 572
4,148
18,253
26,855
19,084
32, 514
20, 799
4,342
18,206
26,485
19,422
32, 237
20,661
4,537
18,097
26,209
19,112
33, 396
20, 529
4,757
17,867
25,859
18,989
32, 033
20, 471
4,987
17,919
25,656
19,057
31,668
20,490
5,188
17, 686
25,044
18,564
31,848
20,639
5,165
17,470
24,755
18,612
31, 201
20,253
5,367
' 17,310
' 24,435
' 18,778
30, 899
' 19,769
' 5, 383
16, 952
24, 064
18, 922
31, 736
20, 439
5,384
2,053
63, 206
17, 255
45,529
2,125
62,711
16, 947
43,564
2,120
62,432
16,736
43,225
2,169
61, 969
16, 583
42,550
2,264
61,881
16,439
42,961
2,316
62,022
16,444
42,695
3,382
61,945
16,262
42,172
2,367
60,970
16,006
42,141
2,404
60, 967
16,066
42,093
2,384
60,437
16,110
41,728
2,421 ' 2, 347
59,831 ' 59,498
16,016 ' 15.901
41,308 ' 41,161
2,429
59, 482
15, 345
42, 237
1,731
68, 427
43, 024
25, 403
1,495
72, 339
47, 353
24, 986
1,554
71, 592
46, 709
24, 883
1,546
71,179
46, 304
24, 875
1,559
70, 664
45, 546
25, 118
1,635
70, 891
45, 523
25, 368
1,670
70, 791
45, 106
25, 685
1,701
70, 589
44, 578
26,011
1,710
69, 429
44, 090
25, 339
1,765
69, 367
43, 801
25, 566
1,731
68,427
43,024
25,403
1,720
67, 465
42,415
25, 050
1,724
67, 221
41, 449
25, 772
328, 781
26, 677
24, 923
28, 440
26, 506
28, 117
26, 634
28, 135
26, 843
30,447
28,896
26, 099
28, 708
27,283
29,364
29, 934
29,517
24, 400
29, 184
30, 021
30, 261
30,315 ^27,419
29, 604 ^29, 294
1,668
66, 879
41, 902
24, 977
BUSINESS INCORPORATIONSG
New incorporations (50 States and Dist. Col.):
Unad justed.. _
_
number
Seasonally adjusted! -do
INDUSTRIAL AND COMMERCIAL
FAILURES©
Failures, total
number
Commercial service
do
Construction
do
Manufacturing and mining
do
Retail trade. _ _
do
Wholesale trade...
do
Liabilities (current), total
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
9,915
886
1,045
756
11, 432
1,202
867
1,145
801
805
853
3904
891
987
130
1,320
153
164
107
1,637
158
164
108
141
117
121
115
133
1,840
167
223
136
158
2,262
230
258
152
186
178
171
177
138
144
145
1,557
114
164
121
109
1,645
170
no
140
109
128
123
4,234
358
425
309
408
494
411
351
4,799
491
380
365
336
378
964
99
87
90
84
102
1,089
116
105
82
84
80
66
79
3,053,137 4,380,170 343, 348 372, 076 357, 788 175, 917 3242,028 222, 442 205,526 1,295,393 252, 868 136, 881 257, 071 211,762
348, 166 475, 485 31, 569 117, 559 23, 086 20, 404 77, 441 31, 684 20, 803 43, 711 15, 756 29, 591 29, 263 32, 144
526, 598 640, 845 43, 890 58, 581 199, 262 27, 248 57,483 32, 497 31,918 54, 648 28, 756 19, 206 42, 933 34, 873
833, 824 1,020,609 97, 441 107, 746 55, 459 47, 471 38, 417 57, 046 49, 124 92, 736 120, 243 41, 214 71, 485 52,958
1,069,656 1,835,908 140, 881 59, 483 40, 497 50, 643 42, 232 70, 889 84, 673 1,083,690 55, 134 30, 643 89, 535 58, 004
274, 893 407, 323 29, 567 28, 707 39, 484 30, 151 26, 455 30, 326 19, 008 20, 608 32, 979 16, 227 23, 855 33, 783
2
2
38. 4
43.4
42. 6
46.3
49.1
l
for A/rVr"io7« /i " A Y'"1'1111?1-*Advance estimate; totals for mfrs. new and unfilled orders
3 ^dides dat°a"or Ha^SireV1S10nS ** Selected coraP°nents.
2 Based on unadjusted data.
md.,
ind un
n
ing
M!10teJ?n,p- S~6'
Deludes data for items not shown separately.
r 6 P11 Prod" Bather and prod., paper and allied prod., and print, and pub.
orders for other nondurable goods are zero.
38.2
36.9
35.4
37.0
36.5
42 2
44.9
341.9
41.4
f For these industries (food and kindred prod., tobacco mfs., apparel and other textile
prod., petroleum and coal prod., chem. and allied prod., rubber and plastics prod.) sales are
considered equal to new orders.
O Compiled by Dun & Bradstreet, Inc. (failures data
for 48 States and Dist. of Col.; Hawaii included beginning July 1975).
t Revised back to
Mar. 1971 to reflect new seas, factors; revisions prior to Feb. 1973 will be shown later.
A See
corresponding note on page S-4.
SUEVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1974
1975
Annual
May 1976
1975
Mar.
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
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
Food grains
_
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)
1910-14—100
Parity ratio §
do
CONSUMER PRICES
(17. S. Department of Labor Indexes)
Not Seasonally Adjusted
All itemslf
1967=100
Special group indexes:
All items less shelter^
_
do
All items less foodlf __ _
do
All items less medical careH-.
do
Commodities^
do
Nondurables
do
Nondurables less food
do
Dur ablest
do
Commodities less foodlf
do
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
Homeownership
_
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
New cars
do
Used cars If
do
Public
_ _
do
Health and recreation 9
_ _ do
Medical care
do
Personal care
__
do
Reading and recreation
. __ do
Seasonally Adjusted*
All items, percent change from previous month
Commodities!
1967=100
Commodities less food f do
Food
do
Food at home. ... . .
do
Fuels and utilities
do
Fuel oil and coal
do.
Apparel and upkeep.. .
do
Transportation f
do
Private 1f
_do
New cars
do
Services*
do
467
483
409
433
420
530
349
821
453
489
555
214
*459
^438
»474
P342
*402
?425
*355
*900
P477
*>510
*>588
»228
420
419
458
286
393
427
341
922
420
479
491
222
431
425
477
272
402
430
343
924
435
474
535
202
452
428
462
307
407
407
375
923
473
471
611
208
463
435
539
311
396
353
392
922
487
468
640
209
476
450
516
342
397
397
392
833
498
478
652
220
476
454
440
362
423
446
358
864
495
500
631
228
492
457
460
377
409
463
383
921
522
528
661
245
490
449
438
420
394
454
352
923
525
561
656
236
470
425
456
419
362
408
339
874
509
588
601
248
475
426
502
422
366
390
337
871
518
600
608
257
472
426
496
421
373
390
315
874
512
599
601
249
475
430
454
420
379
410
329
874
513
588
612
244
468
433
467
426
381
400
345
874
497
572
597
228
478
431
465
424
377
392
345
876
518
559
648
223
505
519
494
552
571
539
533
558
515
'542
'558
••531
548
565
536
554
568
545
557
574
545
561
575
550
566
579
558
564
581
552
565
586
550
566
586
552
569
589
554
571
589
558
574
592
562
574
594
560
578
81
632
73
613
69
'622
69
628
72
634
73
637
75
640
74
646
76
645
76
645
73
647
73
659
72
661
72
664
70
665
72
147.7
161.2
157.8
158.6
159.3
160.6
162.3
162.8
163.6
164.6
165.6
166.3
166.7
167.1
167.5
168.2
146.1
143.7
147.7
145.5
151.0
140.9
130.6
136.6
152.1
156.0
161.7
163.9
151.9
165.8
150.6
154.4
130.6
163.2
150.2
214.6
145.8
140.5
136.2
137.7
136.6
117.5
122.6
148.0
140.3
150.5
137.3
133.8
159.1
157.1
160.9
158.4
163.2
151.7
145.5
149.1
166.6
171.9
175.4
178.0
156.6
171.0
166.8
169.7
137.3
181.7
167.8
235.3
169.6
158.1
142.3
150.6
149.8
127.6
146.4
158.6
153.5
168.6
150. 7
144.4
155.6
153.9
157.5
155.0
159.7
148.8
142.1
146.0
163.2
168.3
171.3
161.8
155.4
167.4
163.6
166.6
135.5
178.2
163.0
228.3
164.0
155.6
140.9
144.8
144.0
127.3
135.3
152.3
151.1
164.6
148.9
142.0
156.3
154.9
158.2
155.7
160.1
149.8
143.6
147.2
164.1
169.2
171.2
161.8
154.8
167.8
164.7
167.6
135.9
179.4
164.6
229.0
166.3
156.8
141.3
146.2
145.5
127.5
138.1
152.4
152.1
165.8
149.5
143. 5
157.0
155.6
158.9
156.5
160.8
150.5
144.8
148.1
164.5
169.6
171.8
168.2
153.6
169.0
165.3
168. 2
136.4
180.1
165.5
230.2
167.3
157.4
141.8
147.4
146.8
126.8
142.2
152.5
152.6
166.8
149.9
143.8
158.4
156.6
160.3
157.9
162.4
151.2
145.8
148.9
165.7
170.9
174.4
177.2
153.3
177.4
166.4
169.4
136.9
181.4
166.9
230.6
169.4
158.1
141.4
149.8
149.3
127.0
147.5
154.1
153.2
168.1
150.3
144.1
160.3
157.6
162.0
160.1
165.0
152.2
146.9
149.9
166.6
171.9
178.6
187.7
153.4
188.8
167.1
170.2
137.3
182.3
168.0
234.1
170.4
158.3
141.1
152.6
152.3
126.6
153.2
155.0
154.0
169.8
151.2
144.4
160.8
158.3
162.4
160.4
165.2
153.0
147.5
150.7
167.4
172.7
178.1
189.7
154.3
177.9
167.7
170.7
138.0
182.8
168.9
235.7
171.2
158.8
142.3
153.6
153.4
126.8
156.1
155.0
154.6
170.9
151.4
144.7
161.6
159.5
163.2
160.8
165.4
153.8
148.2
151.4
169.1
174.6
177.8
190.3
156.3
167.4
168.9
171.6
138.4
183.9
170.9
238.7
174.0
160.1
143.5
155.4
153.9
126.5
156.6
169.5
155.4
172.2
152.1
146.0
162.6
160.4
164.1
161.7
166.4
154.6
148.9
152.2
170.1
175.7
179.0
192.9
159.4
165.5
169.8
172.5
139.3
184.8
172.0
243.3
174.2
160.9
144.6
156.1
154.8
129.9
156.5
168.8
156.3
173.5
152.9
146.6
163.4
161.5
165.2
162.2
167.1
155.1
149.2
152.6
172.0
177.7
179.8
191.4
162.8
168.7
171.3
174.1
139.9
186.8
174.4
246.5
176.8
161.6
145.5
157.4
156.1
131.3
153.7
168.9
156.5
173.3
153.6
147.0
164.1
162.1
165.8
162.7
167.6
155.4
149.3
152.8
173.1
179.0
180.7
189.2
165.5
172.1
172.2
175.0
140.6
187.8
176.1
248.7
179.0
162.0
145.2
157.6
156.2
134.0
149.6
170.1
157.5
174.7
154.6
147.5
164.4
162.6
166.2
162.4
167.3
154.7
149.0
152.3
174.9
181.0
180.8
186.5
168.2
173.3
173.2
175.9
141.2
188.8
176.3
248.9
179.5
163.7
143.3
158.1
156.8
134.2
144.6
170.2
158.6
176.6
155.7
148.2
164.9
163.4
166.5
162.3
167.2
155.2
149.3
152.7
176.1
182.2
180.0
183.0
168.5
173.2
173.8
176.0
142.1
188.6
177.9
249.4
181.9
165.2
144.0
158.5
157.2
134.3
144.9
170.4
159.7
178.8
157.0
148.5
165.3
164.2
166.8
162.3
166.7
155.5
150.4
153. 3
177.2
183.4
178.7
180.2
167.9
173.6
174.5
176.3
142.7
188.7
178.9
247.6
183.7
166.6
145.0
159.8
158.5
134.5
150.9
172.3
160.6
180.6
157.4
149.0
166.1
165.0
167.4
163.1
167.2
156.0
151.9
154.2
177.7
184.0
179.2
178.0
167.9
179.0
174.9
176.6
143.2
188.9
179.3
246.6
184.4
167.4
145.7
161.3
160.1
134.4
159.4
172.4
161.4
181.6
158.3
149.5
0.4
155.0
146.6
170.6
170.3
161.7
223.4
141.4
145.7
144.9
127.0
163.3
0.5
155.6
147.4
171.0
170.6
163.3
225.6
141.4
146.6
145.9
127.4
164.3
0.5
156.5
147.9
172.5
172.3
164.7
228.4
141.5
147.1
146.4
127.0
164.9
0.7
157.6
148.5
174.6
174.9
166.9
231.1
141.4
148.6
148.1
127.1
166.0
1.0
159.6
149.8
177.8
178.6
168.8
237.0
142.3
151.2
150.8
126.9
166.9
0.4
160.1
150.7
177.5
178.1
170.1
241.8
143.4
152.7
152.5
127.7
167.6
0.4
160.6
151.2
178.0
178.4
172.5
246.2
142.8
155.5
154.0
129.0
169.0
0.6
161.5
151.7
179.6
180.2
173.8
249.1
143.2
155.9
154.6
129.5
170.0
0.6
162.2
152.2
180.6
181.2
175.1
248.1
143.6
157.4
156.1
130.5
171.7
0.5
162.9
152.8
181.6
182.1
176.3
247.5
144.1
158.3
157.0
133.4
172.8
0.4
163.1
153.1
181.2
181.4
175.6
244.0
145.0
158.7
157.4
133.1
174.7
0.1
162.7
153.5
179.4
178.6
176.1
242.6
145.0
160.1
158.9
133.8
176.0
0.2
162.4
153.9
177.9
176.5
177.5
242.3
145.4
160.8
159.5
134.2
177.2
0.4
163.1
154.4
178.9
177.7
177.9
243.0
145.8
161.8
160.6
134.3
178.0
187.2
209.4
173.2
173.7
195.5
236.0
171.5
175.7
205.6
249.8
179.6
176.7
206.3
242.8
184.2
177.7
201.4
233.2
181.9
178.9
191.7
210.1
179.8
178.2
193.2
196.0
190.4
189.7
202.9
200.0
200.5
203.3
186.6
193.2
183.6
180.6
178.7 '179.3 '179.3 ' 179. 6
202.3
204.3
200.9
181.3
197.1
178.4
162.5
162.6
161.7
203.0
179.3
164.5
165.0
162.4
204.1
180 9
164.9
165.3
163.0
207.5
181.0
166.2
166.7
164.0
206.8
182.
168.
168.
166.
199.8
182.3
168.0
168.1
167.4
201.3 ' 201. 2 ' 199. 5 ' 199. 1
184.5
185.6
183.7
182.6
168.2
167.9
168.7
168.5
167.4
166.8
168.3
168.5
169.9
170.5
169.5
168.0
169.4 r 170. 8 '171.7 ' 172. 7
184.9
184.6
185.7
185.8
176.0
175.6
175.3
174.7
171.4
172.3
170.7
169.4
179.4
179.6
179.9
180.1
205.3
186.8
169.0
168.0
171.1
WHOLESALE PRICESd"
(U.S. Department of Labor Indexed
Not Seasonally Adjusted
Spot market prices, basic commodities:
194.
22 Commodities.
1967-100
i 227. 9 i 198. 2
201.2
198.6
9 Foodstuffs
do
i 243. 2 i1 227 3 224.5
224.6 210.
184.
13 Raw industrials. __
do
* 219. 0
180. 4 182.3
186 4
All commodities
do
174.9
160.1
172.1 173.
170.4
By stage of processing:
196.
Crude materials for further processing
do..
196.1
196.9
189.4
182.4
178.
Intermediate materials, supplies, etc
do
162.9
180.0
179.0
178.1
161.
Finished goods O___
do.'I
147.5
163.4
160.0
158.9
161.
163.6
Consumer finished goods
do
149.3
159.7
158.5
161.
Producer finished goods
do.
141.0
162.5
160.7
159.7
By durability of product:
Durable goods
do
165.3
150 1
165.8
164.8
164.1
Nondurable goods
do
167.6
175.2
179.1
181.7
177.6
Total manufactures
do
154.1
169.5
168.7
171.1
167.8
Durable manufactures
do...
148.6
165.6
164.4
164.9
163.7
159.5
Nondurable manufactures
do
174.1
176.6
173.1
171.9
r
Revised.
v Preliminary.
1 Computed by BEA.
9 Includes data f(>r items not
shown separately.
§ Ratio of prices received, to p rices paid (parity in dex).
cf For ac tual
wholesale prices of individual commodities see respe ctive coirimodities.
OGo ods to us ers,
mcl. raw foods and fuels.
173.8
168.8
168.
166.5
165.7
186.7
185.3
186.
184.9
186.1
177.0
174.4
174.
172.3
173.0
173.1
168.8
168.
166.2
165.7
180.7
180.1
181.0
179.1
179. 9
JD ata have been re vised ba ck to 1967 to reflect new method of seasonally adjusting the
^Effective with the
inde sees; com Darable data for earlier periods will be shown later.
Dec*imber 197 4 SURVE Y, indexcis have b<jen revised back to April 1974 to reflect the correction
ries;
data
for
earlier
periods
will
be shown later.
*New se
in trle used c ar compc nent.
165. 2
180.2
170.1
165.1
175.1
165.1
183.6
171.4
165.2
177.6
SURVEY OF CURRENT BUSINESS
May 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
1975
1975
Mar.
Annual
S-9
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
COMMODITY PRICES—Continued
WHOLESALE PRICES^— Continued
(U.S. Department of Labor Indexes}— Continued
All commodities — Continued
Farm prod., processed foods and feeds .1967= 100..
Farm products 9
do
Fruits and vegetables, fresh and dried-do
Grains..
_
.
do
Live poultry
do
Livestock . _
_ _ . _ . _
_
do
Foods and foeds, processed 9
Beverages and beverage materials
Cereal and bakery products
Dairy products
Fruits and vegetables, processed
Meats , poultry, and
fish
Industrial commodities
177.4
187.7
192.3
257.9
157.4
170.6
184.2
186.7
183.7
223.9
189.8
187.9
174.9
171.1
163.8
223.5
170.1
155.4
178.8
177.7
183.4
218. 5
168.3
173.5
181.2
184.5
183.1
213.0
177.6
197.9
182.3
186.2
206.7
203.3
190.6
202.4
188.2
193.7
208.6
219.3
219.1
211.3
189.0
193.2
179.6
237.8
202.4
203.0
190.4
197.1
182.6
232.9
203.9
209.9
190.5
197.3
183.3
227.4
210.8
207.8
186.1
191.7
179.0
207.9
203.7
193.4
186.0
193.8
190.3
205.5
181.3
191.6
184.6
192.8
194.8
210.5
169.0
184.7
182.0
191. 0
192.6
214.3
173. 1
179.5
180.3
187.2
184.5
217.8
182.6
170.7
183.7
192.9
195.0
209.0
165.4
192.3
do
do
do
do
do
do
170.9
140.7
171.2
146.4
154.6
163.5
182.6
162.4
178.0
155.8
169.8
191.0
177.3
162.2
181.9
148.6
169.5
163.7
179.4
161.7
179.1
148.9
170.8
174.4
179.0
161.0
176.2
149.6
171.0
190.7
179.7
160.4
174.4
150.5
170.9
199.6
184.6
159.4
176.7
153.2
169.4
209.7
186.3
161.6
175.8
156.3
168.6
204.5
186.1
162.5
177.0
160.8
168.4
209.8
186.2
165.1
177.6
165.6
169.3
210.4
182.6
165.1
177.0
168.1
169.0
200.8
181.0
165.4
174.6
171.3
168.5
198.1
179.4
165.1
174.7
169.7
167.6
193.2
176.4
167.0
175.1
163 4
166.7
186.1
175 8
167.0
174.5
166 7
166 5
180.6
178.0
169.3
172.8
167.7
167.1
189.2
do
153.8
171.5
168.9
169.7
170.3
170.7
171.2
172.2
173.1
174.7
175.4
176.1
177.3
178 9
180.0
181.4
210.3
206.3
127.5
260.4
167.1
182.1
206.5
207.4
127.5
285.7
167.1
182.2
201.2
208.2
127.4
289.7
169.7
182.3
199.9
209.2
128.5
264.3
169.7
182.9
197.7
210.4
128.8
260.6
170.2
183.4
197.9
211.1
129.3
257.3
170.2
184.2
199.7
212.6
130.0
246.4
170.2
184.9
192.3
215.6
131.7
245.3
171.6
185.6
190.8
217.1
132.7
256.2
171.6
187.1
190.6
218.4
133.0
243.6
172.9
r
178. 0
r
Chemicals and allied products 9H
do
Agric. chemicals and chem. prod. . _ do ___
Chemicals, industrial^
do
Drugs and Pharmaceuticals
do
Fats and oils, inedible
do
Prepared paint—
do
146.8
137.7
151.7
112.7
338.2
145.7
181.3
203.6
206.9
126.6
255.2
166.9
181.8
211.6
207.5
124.5
218.2
164.7
182.4
212.5
207.4
125.9
261.5
164.7
182.1
212.1
208.8
125.9
250.5
166.1
181.2
211.0
207.0
126.4
246.7
165. 9
Fuels and related prod., and power 9 If.
Coal
Electric power If
Gas fuels 1f
Petroleum products, refined f
do
do
do
do
do
208.3
332.4
163.1
162.2
223.4
245.1
385.8
193.4
216.7
257.5
233.0
388.3
191.1
188.1
242.3
236. 5
387.3
194.6
206.9
243.6
238.8
389.3
192.9
219.1
246.1
243.0
385. 9
190. 6
220.0
252.2
246.6
382.2
192.6
226.4
258.8
252.4
377.9
195.2
226.8
268.6
254.9
373.3
197.5
231.5
272.1
256.5
371.3
199.5
231.6
274.2
257.0
364.6
199.3
235.3
275.0
258.0
371.2
197.6
245.6
274.7
257.3
370.3
198.4
244.0
273.1
255.7
369.3
198.9
246.7
272.9
255.7
368.3
201.5
254.3
269.6
256.9
367.8
204.6
266.1
267.0
Furniture and household durables 9
Appliances, household
Furniture, household
_
Home electronic equipment
do
do
do
do
127.9
117.9
136.6
93.1
139.7
132.3
146.3
93.5
138.5
130.1
145.3
95.4
138.5
130.6
145.4
91.9
138.6
131.0
145.3
91.9
139.0
132.2
145.3
93.0
139.2
132.2
145.4
93.3
139.8
132.4
145.5
94.6
140.1
133.6
146.1
92.8
141.1
134.1
147.8
92.8
141.5
135.4
148.5
92.8
142.0
135.7
143.1
136.3
150. 8
92.3
143.4
137.2
150.5
91.7
143.9
138.2
150.8
91.2
144.4
138.7
151.0
Hides, skins, and leather products 9
Footwear
Hides and skins... __
Leather
Lumber and wood products
Lumber.-
do
do
do
do
do
do
145.1
140.0
195.9
154.3
183.6
207.1
148.5
147.8
174.5
151.5
176.9
192.5
143.2
146.0
138.5
141.6
169.6
182.3
147.5
146.8
173.9
151.5
174.9
189.3
147.7
146.9
170.6
153.3
183.0
200.7
148.7
146.9
182. 5
153.2
181.0
199.7
149.3
147.3
186.8
152.6
179.6
196.8
149.3
147.5
186.6
151.5
179.7
197.8
151.3
149.5
192.3
154.1
179.9
196.6
152.4
150.1
201.0
154.9
179.1
196.0
154.4
150.2
154.6
150.5
178.3
183.1
157.5
151.5
224.4
164.9
190.5
210.1
159.9
153.0
229.4
173.2
196.0
219.4
162.0
153.9
236.9
178.7
202.3
230.4
165.4
155.3
270.4
183.8
203.3
230.7
Machinery and equipment 9 ._.
Agricultural machinery and equip
Construction machinery and equip
Electrical machinery and equip .
Metalworking machinery and equip
do
do
do
do
do
139.4
143.8
152.3
125.0
146.9
161.4
168.6
185.2
140.7
171.6
158.8
166.0
182.0
139.1
168.8
159.7
166.7
183.8
139.5
169.6
160.4
167.5
184.0
140.1
170.2
161.0
167. 8
184.4
140.4
171.9
161.7
168.5
184.9
140.8
172.7
162.2
168.9
185.4
140.9
173.0
163.1
169.2
187.5
141.8
173.1
164.1
171.3
188.6
142.3
175.1
165.3
174.2
191.2
143.1
176.3
165.8
175.1
192.5
143.1
167.0
176.8
193.3
144.0
178.5
167.7
177.3
194.4
144.4
178.8
168.2
178.6
194.7
144.6
179.4
168.9
179.3
195.0
144.9
180.5
Metals and metal products 9 -Heating equipment
Iron and steel.,
Nonferrous metals
do
do
do
do
171.9
135.0
178.6
187.1
185. 6
150 7
200.9
171 6
186.1
149.5
200.6
173.9
185.7
149.8
201.1
172.2
185.1
184. 5
150.5
199.4
169.1
183.4
150.2
197.3
167.7
184.3
150.3
198.4
169.3
185.5
150.3
200.4
170.8
187.2
151.9
204.7
170.7
187.0
152.9
204.1
170.1
187.1
155.2
204.3
169.4
' 187. 7 ' 189. 2
155.7
155.4
205. 9 '209.6
169.0
169.7
«• 190. 6
200.6
r 155. 2
'211.3
192.9
156.0
213.2
177.6
do
do
do
do
do
do
do
do
153.2
135.2
151.7
137.6
151.7
148.6
136.2
133.4
174.0
151.2
170.5
144 0
170.4
172.9
150.2
148.5
170.8
146.8
169.0
145.6
170.0
173.3
149.7
145.1
173.0
148.7
169.9
144.0
169.7
173.1
149.4
145.1
173.1
149.2
170.0
143.5
169.8
172.6
148.9
145.4
173.3
151. 0
170.3
143.4
169.8
172.5
148.6
145.4
174.7
151.3
171.2
140.8
170.0
172.4
150.1
151.8
175.8
152. 3
171.3
143.2
170.0
172.4
150.0
152.1
176.1
154.0
171.2
143.8
170.3
172.4
150.8
152.1
177.1
155.8
172.3
145.2
170.9
173.0
151.5
152.2
177.7
156.3
172.6
146.9
171.3
172.9
151.8
151.9
178.0
156.3
173.1
144.3
173.1
173.7
151.9
151.7
181.1
159.0
177.2
150.2
174.8
176.3
152.4
151.8
181.3
159.7
177.8
148.4
175.8
176.6
154.2
152.0
182.5
160.2
177.7
150.4
176.9
178.0
155.5
155.5
185.2
160.9
178.5
150.9
178.5
139 1
137 9
134.3
134.4
135.2
135.9
136.8
137.6
138.4
141.3
143.2
144.0
146.3
101 7
101.5
103.0
100.5
137.4
156.2
146.7
102.1
101.5
103.3
100.8
137.8
156.6
147.4
148.8
151.3
149.1
151.7
149.2
151.9
Nonmetallic mineral products 9
Clay prod., structural, excl. refrac
Concrete products .
Gypsum products
Pulp, paper, and allied products
Paper
Rubber and plastics products
Tires and tubes
r
Textile products and apparel §
do
Synthetic
fibers
Dec 1975—100
Processed yarns and threads
do
Gray fabrics
_
do
Finished fabrics
do
Apparel
1967-100
Textile house furnishings
do
129.5
143.1
133.4
151 9
133.3
150.9
133.0
151.7
132.2
151.7
132.5
151.7
132.4
151.7
132.8
151.7
133.1
152.6
133.6
153. 3
134.8
153.3
135.1
153.3
145.1
101 3
101.5
101.8
99 3
136.5
153.8
Transportation equipment 9 ...Dec. 1968 =100..
Motor vehicles and equip
1967=100
125.5
129.2
141.5
144.6
139.5
143.0
139.9
143.0
139.9
142.9
140.1
143.1
140.1
143.1
140.5
143.5
141.1
143.9
146.6
150.0
147.2
150.6
147.5
150.9
148.7
151.3
0.8
0 9
0.9
1.1
0.1
0.3
198.8
179.7
203.7
180.6
207.0
182.8
207.0
183.4
204.5
184.2
171.5
156.7
155.5
99.9
103.5
138.6
157.1
Seasonally Adjusted f
All commodities, percent change from previous
month.
By stage of processing:
Crude materials for further processing 1967=100
Intermediate materials, supplies etc
do
Finished goods:
Consumerfinishedgoods
.
do
Food.
_
do
Finished goods, exc. foods
do
Durable
.
do
Nondurable
do
Producer finished goods
do
-0.5
0.9
0.6
180.4
178.5
192.7
178.6
198.3
177.5
0
197.0
177.3
200.1
178.4
r
-0.2
'-0.4
0.2
0.8
201. 3
184.7
' 198. 8
' 196. 9
208.8
166.7
166.0
168.4
170.0
170.7
171.3
157.7
170.6
150.0
136.9
158.7
159.9
160.0
175.9
150.3
137.0
159.2
160.9
161.6
179.6
150.8
137.0
159.9
161.3
162.9
181.7
151.5
137.3
160.8
161.8
164.2
183.6
152.6
137.4
162.4
162.6
164.9
183.2
153.9
137.8
164.4
163.1
167.1
186.6
155.4
138.8
166.3
164.3
168.7
187.9
157.0
140.7
167.9
166.3
169.2
187.6
158.2
141.8
169.0
167.1
169.4
187.0
158.9
141.9
170.1
167.9
167.9
182.0
159.1
142.5
170.2
169.1
18fi ^
By durability of product:
Total manufactures
Durable manufactures. __
Nondurable manufactures
do
do
do
167.6
164.0
171.2
169.0
164.2
174.1
169.3
164.2
174.6
169.8
164.3
174.9
170.5
164.5
176.5
171 4
165.0
178.0
172.7
166.0
179.4
174.7
168.4
181.0
175.3
169.5
181.6
175.8
170.6
181.2
175.5
171.4
179.9
176.0
171.7
175.8
177.4
Farm products.
Processed foods and feeds
do
do
169 7
177.5
178 1
180.7
186.0
181.0
184.5
180.4
189.9
182.5
192 7
184.8
196 9
185.3
199.9
186.6
196.1
184.3
197.2
181.8
192.6
178.3
187.7
175.5
185.9
175.9
193.8
$0. 587
$0. 581
cqi
$0. 577
$0. 576
$0. 569
fit ft
$0. 566 $0.563 $0. 559
fil /I
fii i
fins
$0. 561
604
$0.560
601
$0. 557
600
$0. 557
598
$0. 557
.597
$0. 552
.595
PURCHASING POWER OF THE DOLLAR
As measured by —
Wholesale prices
1967=$1.00__
Consumer prices _..
do
$0. 625
678
$0. 572
fi91
a*iA
rfSee corresponding note on p. S-8.
9 Includes data for items not shown separately.
•[Beginning June 1974 SURVEY, data are restated.to reflect changes in pricing by BLS.
Because of delay in obtaining data the prices lag the current index as follows: industrial chemicals and electric power, one month (i.e., July index reflects June prices); gas fuels, except
LPG, two months (July index reflects May prices); refined petroleum products (gasoline,
distillates, residual), one month (July index reflects June prices). The restated indexes are
207-050 O - 76 - S2
«Oq
comparable with those for earlier periods.
§ Effective with Jan. 1976 reporting, the textile
products group has been extensively reclassified; no comparable data for earlier periods are
available for the newly introduced indexes.
{Beginning in the April 1976 SURVEY, data reflect new seasonal factors. All seasonally adjusted series have been revised back to January
1967.
r Revised.
SUKVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1974
1975
Annual
May 1976
1975
Mar.
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE J
New construction (unadjusted), total
Private, total 9
Residential (including farm)
New housing units.
_
mil. $_. 135, 481
130,759
9,093
9,717
10,658
11,470
11,648
12,338
12,754
12,282
11,873
10,951
97, 079
47, 044
37,312
90, 032
43, 045
'31,279
6,172
2,637
1,883
6,815
3,017
2,073
7,303
3,390
2,318
7,677
3,781
2,656
8,053
4,119
2,914
8,347
4,332
3, 075
8,525
4,315
3,139
8,506
4,251
3,196
8,346
4,161
3,203
7,899
3,883
3,007
29, 644
7,902
15, 945
26, 244
7,847
12, 810
2,024
606
994
2,134
624
1,040
2,182
685
1,046
2,150
671
1,022
2,164
668
1,034
2,259
659
1,119
2,334
684
1,136
2,322
675
1,145
2,225
650
1,080
2,134
679
997
-do
do
do
Nonresidential buildings, except farm and public utilities total 9
mil $
Industrial
do
Commercial
do
Public utilities:
Telephone and telegraph.. . .
...do
Public, total 9
4,279
3,689
326
313
305
321
299
306
331
292
327
do
38, 402
40,727
2,921
2,902
3,355
3,793
3,595
3,991
4,229
3,776
3, 527
3,052
-- -do _ _
do
do
do
do
14, 990
1,007
763
1,185
12, 083
15, 424
969
916
1,392
12, 620
1,289
97
85
108
696
1,207
72
74
102
830
1,273
81
87
102
1,075
1,363
92
82
102
1,199
1,297
87
68
111
1,272
1,431
73
68
123
1,403
1,382
86
62
145
1,530
1,280
71
62
131
1,377
1,274
71
91
142
1,082
121.7
126.9
129.0
132.1
137.6
135.8
138.0
93.0
93.4
_ .
Buildings (excluding military) 9
Housing and redevelopment
Industrial—
Military facilities
Highways and streets
New construction (seasonally adjusted at annual
rates) total
bil $
305
r
9, 353 ' 8, 925 10,038
' 6, 879 rr 6, 586
' 8, 328
3, 072
' 2, 603 '2,417
7,348
3,572
2,793
' 1, 974
'573
'937
2,053
590
995
1,848
563
854
220
236
2,474
'2,339
1,183
64
87
132
794
1,062
40
75
122
474
967
41
79
121
385
138.0
134.3
' 134. 1
139.5
'99.3
101.5
r
2,690
125.5
121.0
_
85.7
84.7
84.3
85.0
88.3
90.6
96.0
96.5
97.0
Residential (including farm)
do
New housing units.. do .
Nonresidential buildings, except farm and public utilities, total 9
bil. $
Industrial
do
Commercial
do
Public utilities:
Telephone and telegraph
do
38.0
26.9
37.6
26.8
38.5
27.6
40.4
28.9
43.3
30.6
45.3
32.1
46.1
33.2
47.1
34.9
48.3
36.7
49.1
37.6
••49.0
37.5
'49.6
38.2
52.0
40.5
26.3
7.9
13.0
25.9
7.5
12.8
25.6
8.2
12.1
24.8
7.7
11.8
25.0
7.7
12.0
25.8
7.6
12.5
26.2
7.9
12.4
25.6
7.5
12.6
26.2
7.8
12.7
25.6
7.5
12.4
25.1
'7.5
11.8
'27.7
'8.2
'13.2
26.6
7.7
13.1
Private, total 9
do
3.7
4.0
3.6
3.4
3.8
3.3
3.6
3.3
3.8
3.5
3.5
do
39.8
36.3
37.4
41.9
40.6
41.5
44.6
42.4
42.0
41.5
237.3
'34.8
30.8
_.do
do
do
do
do
16.5
1.2
1.0
1.3
11.4
14-9
.9
.8
1.5
11.0
13.9
1.0
.9
1.2
12.2
15.8
1.0
.9
1.1
12.5
16.0
1.0
.9
1.3
12.5
16.1
.9
.9
1.4
13.2
15.8
1.0
.8
1.7
14.2
15.5
.8
.7
1.5
14.1
15.6
.8
1.1
1.7
12.5
14.7
.7
1.0
1.6
11.8
14.0
.6
.9
1.5
9.7
'13.2
.7
1.1
1.7
'8.1
14.6
.6
1.0
1.5
9.0
6,149
170
8,908
185
Public, total 9
Buildings (excluding military) 9
Housing and redevelopment
Industrial
Military facilities
Highways and streets
3.6
CONSTRUCTION CONTRACTS
Construction contracts in 50 States (F. W. Dodge
Division, McGraw-Hill):
Valuation total
mil. $
Index (mo. data seas, adj.)
1967=100..
Public ownership
Private ownership
By type of building:
Nonresidential^f
Residential
Non-building construction^
New construction planning
(Engineering News-Record) O
94, 370
i 170
90, 237
U66
6,574
150
9,598
186
9,143
202
9,324
201
9,044
165
10, 037
208
7,692
157
7,767
166
5,573
148
5,431
137
6,390
183
mil $
do
32, 497
61, 873
31,415
58,822
2,182
4,393
2,768
6,830
2,875
6,268
3,891
5,432
3,784
5,260
3,040
6,997
2,725
4,967
2,544
5,223
1,597
3,976
1,724
3,708
1,655
4,734
do
do
do
33, 051
34, 404
26, 914
30,577
31,347
28,313
2,402
2,316
1,856
2,987
3,029
3,582
2,877
3,073
3,193
3,169
3,116
3,040
3,165
3,093
2,787
2,666
2,784
4,587
2,526
2,966
2,200
2,629
3,189
1,949
1,859
2,404
1,309
1,865
2,233
1,334
1,939
2,157
2,294
1,996
2,546
1,608
2,561
3,618
2,729
do
97, 102
83,795
6,824
6,298
7,609
6,856
7,184
5,456
6,511
5,865
9,909
6,052
6,648
9,791
5,088
6,893
1,352.5
' 932. 2
1,337.7
888.1
1,171.4
766.8
1, 160. 4
892.2
81.1
54.2
80.2
62.5
98.4
66.1
97.9
77.8
117.0
73.2
116.1
92.8
110.9
73.0
110.3
90.3
120.1
76.3
119.3
92.8
118.7
75.1
117.3
90.7
112.8
73.8
111.9
84.5
125.0
78.2
123.6
93.8
97.2
64.7
96.9
71.6
77.1
56.6
76.1
55.6
72.9
52.5
72.5
54.0
'91.6 '120.0
'62.3 '85.1
f 89.9 ' 119. 6
'72.6 '93.1
138.3
95.2
138.0
109.2
986
763
982
774
1,085
853
1,080
874
1,207
916
1,264
979
1,304
966
1,431
1,093
1,381
1,048
1,283
962
1,236
957
r 1, 547
r 1,295
' 1, 433
' 1, 119
1,372
1,067
677
503
837
603
912
658
949
679
1,042
711
995
732
1,095
779
1,079
769
1,085
787
1,028
766
1,120
828
1,134
850
*• 1, 134
'827
1,102
822
' 1, 719 2,192
6,716
4,430
HOUSING STARTS AND PERMITS J
New housing units started:
Unadjusted:
Total (private and public)
Inside SMSA's
Privately owned
One-family structures
Seasonally adjusted at annual rates:
Total privately owned
One-family structures
,
.
thous
do__
do
do
do
. do
New private housing units authorized by building
permits (14,000 permit-issuing places):
Monthly data are seas. adj. at annual rates:
Total...
thous
One-family structures
.do
Manufacturers' shipments of mobile homes (Manufactured Housing Institute) :
Unadjusted
thous
Seasonally adjusted at annual rates
do
1,074
644
924
••679
329. 3
212.7
16.0
193
18.9
190
20.0
209
20.0
201
19.7
213
20.7
225
20.1
228
20.8
235
16.5
230
13.8
224
15.3
263
18.9
287
21.6
244
' 193. 5
194.9
CONSTRUCTION COST INDEXES
Dept of Commerce composite
1967=100
173.2
189.7
189.3
187.8
189.1
190.1
189.7
188.5
190.3
190.6
191.1
192.6
' 193. 6
American Appraisal Co., The:
Average, 30 cities
Atlanta
__ _
New York
San Francisco
___
St. Louis
1913=100-do
do
_
_do
do
1,608
1,821
1,711
1,552
1,536
1,716
1,871
1,827
1,698
1,659
1,633
1,855
1,785
1,633
1,591
1,673
1,861
1,793
1,657
1,601
1,700
1,872
1,800
1,693
1,674
1,710
1,869
1,798
1,690
1,677
1,733
1,881
1,815
1,734
1,700
1,743
1,902
1,873
1,743
1,701
1,763
1,905
1,872
1,736
1,700
1,762
1,902
1,871
1,734
1,699
1,767
1,908
1,873
1,736
1,702
1,778
1,918
1,886
1,793
1,710
1,801
1,949
1,892
1,804
1,725
168.4
171.1
172.0
185.0
188.8
183.5
182.6
185.8
180.6
Boeckh indexes:
Average, 20 cities:
Apartments, hotels, office buildings
Residences
1967=100. .
do
184.5
187. 8
182.4
2
' Revised.
* Preliminary.
1 Computed from cumulative valuation total.
Beginning with January 1976, State and local construction are estimated from a new survey; data
are not strictly comparable with those for earlier periods.
t Data for new construction have been revised back to 1958: those for housing starts and
permits, back to 1959. The revised data are available from the Bureau of the Census, Washington, D.C. 20233.
194.4
191.7
190.6
188.2
186.0
200.5
196.0
194.6
190. 1 """II 192.0
191.8
190.3
189.0
186.5
184.3
HData for Aug. 1973 for nonresidential building and nonbuilding construction appearing in
the Oct. 1974 SURVEY were transposed; they should have read (mil. $): Nonresiaentiai,
building, r 3,167; non-building construction, T 2,453.
OData for May, July, and Oct. 1975, and Jan. and Apr. 1976 are for 5 weeks; other
months, 4 weeks.
c
9 Includes data for items not shown separately.
Corrected.
SURVEY OF CURRENT BUSINESS
May 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
S-ll
1975
1975
Annual
Mar.
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES— Con.
Engineering News-Record:
Building
1967 = 100 .
Construction
- --do
Federal Highway Adm.— Highway construction:
Composite (avg. for year or qtr.)
1967=100.__
178.3
188.0
193.3
' 205. 7
187.3
198.1
201.8
203.8
207.3
177.5
158.3
147.2
152 5
161.1
157 4
166 5
152 6
168 5
156 6
168 4
174 3
174 5
159 1
177 6
173 1
144 1
151 7
141 1
162 6
148 1
156 8
181.8
171 6
215.3
140.9
166 9
182.9
142.9
154.9
131.4
147.0
172 3
172.1
135.4
175 7
204.0
138.9
170 3
213.8
135.5
172 7
232.3
146.0
179 2
234.3
122.1
157.1 ' 151.9
186 6
197 9 r 157 7
232.7
248.8 ' 169. 5
123.3
162 3
136.3
123.8
180 1
106.2
7 8
88
12 6
133
7 7
60
68
M Q
156
-10 7
156
6 4
71
14 5
171
187.8
198.8
190.5 ' 193. 5
201.4 '204.9
r
197.2 r 200. 0 ' 199. 8 ' 200. 5 ' 201. 6 ' 202. 9 '204.4 ' 1205. 6
196.9
195.0
208. 8 '211.3 '211.4 ' 213. 0 r 212. 9 '213.4 ' 214. 2 r 215. 0 ' 215. 7 ' !216. 7
203.9
199.3
209.8
200 3
CONSTRUCTION MATERIALS
Output index:
Composite, unadjusted 9
Seasonally adjusted-
1947-49=100.
do
Iron and steel products, unadjusted
Lumber and wood products, unadj
Portland cement, unadjusted
do
do
do
181 8
164 3
125.7
122.5
REAL ESTATE H
Mortgage applications for new home construction:
FHA net applications
thous. units
Seasonally adjusted annual rates
do
Requests for VA appraisals
do
Seasonally adjusted annual rates
do
07 i
82 3
ifii i
157 7
number.- 140 469
Fire losses (on bldgs., contents, etc.)
mil. $__
3,190
84
56
67
o
19 7
130
134
206
n19gi
514. 78
574. 36
539. 14
607. 94
483. 49
680. 97
534. 43
986. 02
597. 49
674. 34
511. 79
848.30
18, 164
17,527
17, 145
16, 803
16, 685
3,110
4,173
5,370
5,971
644
1 675
791
799
2 314
1 060
1 012
3 089
1 269
989
3 6^6
1 346
142 803
12 636
12 833
12 291
12 476
3,560
341
335
312
265
Home mortgages insured or guaranteed byFed. IIous. Adm.: Face amount
mil. $._ 3,933.70 6, 166. 12
Vet. Adm.: Face amount§
do
7,909.60 8, 863. 84
Federal Home Loan Banks, outstanding advances
to member institutions, end of period
mil. $__ 21,804
17, 845
New mortgage loans of all savings and loan associations, estimated total
mil. $__ 38, 959
55, 040
By purpose of loan:
Home construction
do
7 566
10 097
Home purchase
do. . 23 560
32 106
All other purposes
,.do
7 833 12 837
Foreclosures
67
75
n
IQ C
8 0
93
1 R *\
6 1
K
87
1 Q
O
0
71
U
r fi fl
A
4
'84
68
7 9
74
A
197
-IOC
-i c 7
1 0~ r>~
185
186
175
191
185
165
193
516. 06
841.58
564. 15
860. 56
496. 54
886. 21
452. 16
864. 31
456. 01
792. 50
384. 89
641.82
515.71
837. 38
675. 98
16, 945
17, 482
17,578
17, 606
17, 845
17, 106
16, 380
15, 757
15,236
5,498
5,731
5,588
5,694
4,370
5,254
3,941
r 4, 161
P 5, 808
1 055
3 118
l' 325
980
3 500
1 951
995
822
724
2 314
903
r gll
3 OKI
1 242
941
3 012
1 301
12 019
11 181
11 326
12 210
10 414
11 057
275
285
276
276
266
335
'338
320
1 052
3 400
1 242
9 co/i
Qfi4
T
2 425
925
1 143
3 383
1 282
DOMESTIC TRADE
ADVERTISING
McCann-Erickson national advertising index,
seasonally adjusted:
Combined index &
1967—100
Network TV
do
Spot TV
.
. do
Magazines
do
Newspapers
.
do
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
Beer, wine, liquors
do
Household equip., supplies, furnis'hings .do
Industrial materials
do
Soaps, cleansers, etc...
do
Smoking materials.
do
All other
.
do
Newspaper advertising expenditures (64 cities): e
Total
,
mil $
Automotive
do
Classified
do
Financial
do
General
do
Retail
do
147
162
164
118
143
142
157
158
117
136
141
157
15°
117
134
146
175
154
109
142
1 40
165
155
109
140
148
166
163
125
135
147
161
169
191
135
144
157
166
113
140
151
163
172
119
153
153
167
175
190
147
155
165
169
123
166
164
175
175
135
175
171
191
191
131
171
1 372 3 1 336 3
50 8
47 0
104 7
101 5
24 7
20 7
143 2
140 6
91 1
92 0
119 0
50
10 1
18
11 3
78
119 3
52
87
2 3
12 5
78
121 0
37
97
2 5
12 4
74
105 6
18
9 8
2 i
13 1
6 4
83 ^
2 2
7 2
14
10 8
6 7
82 6
29
53
9
12 0
51
118 7
66
61
2i
11 4
6 2
136 1
55
11 3
20
12 2
94
152 0
51
14 0
19
12 8
12 8
120 4
33
9 4
14
10 9
96
93 0
2 7
7 6
6
10 7
4 9
109 4
32
10 0
17
12 8
7 4
130 4
51
13 7
2 2
12 6
97
76
6 2
29
15
11 9
52 7
84
68
35
12
12 1
53 2
57
31
4 2
27
2 6
12
12 3
33 3
73
55
31
9 2
13 2
55 1
10 4
63
31
24
12 1
61 2
13 5
72
29
25
12 3
66 8
17 7
33
2 9
12
12 9
48 0
39
2 9
2 4
15
11 9
43 Q
55
4 2
2 4
17
13 1
47 4
81
59
31
16
14 4
54 1
070 Q
9 9
347
4
63
11
43
224
141
150
153
121
141
103 4
79 6
35 4
17 6
136 7
585 1
100
55
34
19
144
580
9
1
2
4
2
7
7
4
2
2
12
53
8
5
9
1
6
1
3 844 6 4 100 1 r 346 i
337 3
108 8
93 8
'78
7 3
967 0
978 6 ' 84 7 79 7
134 8
131 0 r 10 5
12 5
513 7
544 3 r 49 7
47 6
2,120.4 2,352 5 ' 193 3 190 2
9
4
2
^
12
42
0
3
9
i
8
4
9 °.
1 2
11 5
31 1
3
4
6
4
7
2
361 0
90
88 6
12 0
49 3
202 1
294
6
80
10
32
164
8
2
5
8
8
6
329 8
59
91 2
63
33 4
193 1
334 0
86
83 1
12 0
45 6
184 8
217 6
403 4
9 0
83 7
10 2
54 6
245 9
36407
15*731
20*676
36 388
15 733
20 655
36 916
15 721
21*195
36 614
15 315
21 299
37855
16 340
21 515
39 569
16 704
22*865
35 827
14 835
20 992
37 831
15 511
22 320
35 990 ' 35 860 41 626
15 129 ' 15 225 17 895
2o' 861 ' 20 635 23 731
46, 695
45, 497 45 939 45 581 44576
27, 529
27 430 28 210 28 315 27*958
19. 166
18. 067 17.729 17.266 16*618
••Revised.
* Preliminary.
i Index as of May. 1, 1976: Building, 205.9; construction,
2167.
cf Beginning Jan. 1973 data reflect new reference base, 1967=100
9 Includes
data for items not shown separately.
§Data include guaranteed direct loans sold.
II Home mortgage rates (conventional 1st mortgages) are under money and interest rates
on p. b-18.
44 513
27 894
Ifi fiiq
44 513
27 710
1 fi 803
44 678
97 365
44764
27 136
45 612
27 228
45 865
27 299
45 497
27 430
18.067
45 945 ' 46 604 46, 818
27 664 ' 28 134 28 434
18.281 ' 18 470 18. 384
354
9
84
9
50
°00
oc 7
13 5
CO 1
0
6
4
0
3
7
348
8
87
13
49
188
3
9
6
6
7
4
383 0
9 3
99 1
9 4
54 3
211 0
409
9
104
14
60
220
6
8
3
1
7
7
WHOLESALE TRADEf
Merchant wholesalers sales (unadj.), total mil. $
Durable goods establishments
do
Nondurable goods establishments
do
Merchant wholesalers inventories, book value
end of year or month (unadj.), total., mil. $
Durable goods establishments
do
Nondurable goods establishments . .
do
448, 127
202 341
245, 786
439, 000
185 922
253 078
35 936
15 041
20' 895
36 132
15 898
9Q 304
17 313
1 7 628
18 384
1 8 5fifi
® Source: Media Records, Inc. 64-City Newspaper Advertising Trend Chart.
tSeries revised back to Jan. 1964 to reflect kind of business classifications of establishments
selected for a new sample in terms of the 1967 Census of Business; revisions for earlier periods
appear on p. 44 ff. of the December 1974 issue of the SURVEY.
SUEVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
1975
May 1976
1975
Mar.
Annual
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
DOMESTIC TRADE—Continued
RETAIL TRADE If
All retail stores: If
Fstimated sale" (unadj ) total If
537, 782
584, 423
44,937
45,896
51,204
49, 052
50,026
50,663
48,275
52,046
50, 526
60,681
46,767 ' 45 ,243 ' 51,663 i 54,182
Durable goods stores 9
-- - do
Automotive dealers -do
Passenger car, other auto, dealers
do
Tire battery accessory dealers
do
167, 313
93, 089
84, 773
8,316
180, 725
102, 105
93,046
9,059
13,270
7,641
6,954
687
14,588
8,422
7,663
759
15, 987
9,180
8,347
833
16, 126
9,342
8,499
843
16,374
9,611
8,783
828
15,575
8,812
8,023
789
15,453
8,539
7,785
754
16,919
9,734
8,936
798
15, 248
8,422
7,647
775
16,855
8,412
7,568
844
14,213
8,299
7,619
680
Furniture, home furn., and equip. 9 ---do
Furniture home furnish ings stores _ -do
Household appliance, TV, radio
do
25, 544
15,364
8,006
26, 123
15, 283
8,420
1,971
1,176
605
2,010
1, 207
620
2,124
1,260
679
2,144
1,269
697
2,167
1,283
7C8
2,177
1,281
707
2,184
1,247
730
2,308
1,379
721
2,389
1,419
747
2,925
1,534
1,042
2,138
1,228
693
'r 2, 064 '2,320
1,368
1, 226
744
r654
Building materials and hardware
Lumber, bldg. materials dealersd"
Hardware stores
do
do
do
23, 491
18, 328
5,163
23, 974
18, 202
5,772
1,631
1,237
394
1,879
1,418
461
2,199
1,628
571
2,212
1,668
544
2,244
1,721
523
2,189
1,701
488
2,203
1,709
494
2,317
1,802
515
2,090
1,597
493
2,073
1,477
596
1,710
1,323
387
'f 1, 773 2,135
1,666
1, 367
469
'406
Nondurable goods stores 9
- do
Apparel and accessory stores
do
Men's and boys' wear stores
do
Women's apparel, accessory stores _.do
Shoe stores
_ _ _
do
370, 469
24, 864
5,668
9,551
3,979
403, 698
26, 749
6,085
10, 396
4,123
31,667
2,077
454
795
349
31,308
1,949
436
749
311
35, 217
2,232
516
869
354
32, 926
2,072
502
797
323
33,652
1,970
440
783
303
35,088
2,279
475
899
374
32,822
2,191
450
872
382
35,127
2,300
491
942
362
35,278
2,409
549
942
361
43,826
3,894
969
1,435
485
32,554
1,976
461
767
303
16, 785
41, 840
119, 763
111,347
39, 910
18, 098
47, 514
131, 723
122, 666
43, 895
1,430
3,668
10,706
9,967
3,424
1,407
3,773
10,178
9,452
3,468
1,529
4,183
11, 687
10, 893
3,715
1,494
4,207
10, 789
10, 009
3,750
1,473
4,228
11,433
10,647
4,067
1,515
4,373
11,754
10,971
4,100
1,450
3,983
10,712
9,962
3,757
1,505
4,208
11,432
10,648
3,817
1,470
4,050
11,008
10, 265
3,649
2,114
4,110
11,778
10,925
3,817
1,481 ' 1, 462 ' 1, 573 i1 1, 640
3,889 ' 3, 723 ' 4, 076 1 4, 231
11,723 ' 10,507 ' 11,245 11,452
10,983 r 9, 775 ' 10,455 i 110,634
3,654 ' 3, 475 ' 3, 739 3, 845
89, 286
95, 402
7,039
7,059
8,047
7,502
7,288
7,983
7,709
8,226
9,432
14,005
6, 247
Drug and proprietary stores
Eating and drinking places
Food stores
Grocery stores
Gasoline service stations
mil. $
do
do
do
do
do
General merchandise group with nonstores 9
mil. $..
General merchandise group without nonstores9§
..
.mil. $ _
Department stores
do
Mail order houses (dept. store mdse)-do. . . .
Variety stores
do
Liquor stores
- do
Estimated sales (seas, adj.), total A If
82, 535
55, 871
5,839
8,714
10, 285
88, 544
60, 719
5,995
9,120
10, 974
do
30,479 ' 34,029 i 135,861
2, 339
'1,768 ' 2, 045
437
'378
807
'715
333
'272
r 6, 213
6,489
4,367
458
706
837
6,503
4,449
458
660
806
7,488
5,170
435
798
945
6, 973
4,827
407
713
909
6,759
4,611
443
665
968
7,427
5,066
496
789
953
7,099
4,904
520
700
876
7,531
5,104
635
737
930
8,778
6,032
690
830
936
13,353
9,437
722
1,456
1,268
5,748
3,918
366
555
841
45, 951
46, 813
48, 173
48, 578
49,655
49,925
49,549
50,165
50, 293
51,990
51,592 ' 52,601 ' 53,272
7, 851
' 5, 718 ' 7, 087
' 3, 840 ' 4, 795 !5,417
583
'432
673
'563
851
'786
1
53,288
1
15,432
8,850
8,082
768
15,506
8,871
8,120
751
15,440
8,699
7,936
763
15,775
9,025
8,274
751
15, 763
8,760
8,007
753
16,877
9,922
9,140
782
16,730 ' 17,397 ' 17,293 17,707
9,605 ' 10,346 ' 10,076 i 10,557
9,215
8,778 ' 9, 509
861
'837
827
2,046
1,199
660
2,132
1,244
686
2,139
1,216
716
2,168
1, 245
723
2,171
1,280
688
2,202
1,277
711
2,214
1,280
735
2,241
1,318
720
2,349
1,388
747
2,337
1,367
757
2,273
1,326
713
' 2, 332 ' 2, 407 i 2, 348
1,394
' 1, 385
810
'736
1,819
1,355
464
1,883
1,415
468
2,006
1,517
489
1,999
1,515
484
1,993
1,515
478
1,977
1,505
472
2,064
1,574
490
2,089
1,599
490
2,209
1,714
495
2,059
1,558
501
2,255
1,748
507
2,394
' 2, 291
' 1, 746 1,845
549
'545
do
32,573
2,099
506
820
310
32,648
2,179
506
819
337
33, 470
2,216
506
854
356
33, 613
2,223
517
863
346
34,223
2,236
511
876
344
34,419
2,336
523
948
353
34,109
2,251
501
879
353
34,390
2,243
491
894
349
34, 530
2,271
504
886
355
35,113
2,354
535
883
358
do
do
do
do
do
1,488
3,821
10,805
10,058
3,497
1,455
3,898
10,598
9,846
3,532
1,499
3,935
10, 875
10, 105
3,565
1,532
3,984
11,023
10, 255
3,616
1,525
3,933
11,282
10,531
3,790
1,526
3,901
11,167
10,429
3,832
1, 525
3,940
10,969
10,217
3,803
1,519
4,078
11,264
10,501
3,738
1,562
4,184
11, 219
10, 432
3,690
1,578
4,220
11,270
10,485
3,859
7,599
7,638
7,981
7,994
7,903
8,091
8,102
7,958
8,296
8,499
8,022
r 8, 401
7,321
5,017
510
728
927
7,523
5,201
509
799
929
7,505
5,162
534
773
•
936
7,359
5,029
522
751
929
7,725
5,348
490
766
929
7,912
5,424
556
770
916
7,443
5,075
524
753
899
r 7, 849 ' 8, 012 i 7, 898
r 5, 408 ' 5, 493 i 5, 439
572
'533
789
'764
942
'918
do
do
do
do
do
General merchandise group with nonstores 9
mil $
General merchandise group without nonstores 9 §
mil $
Department stores
do
Mail order houses (dept store mdse ) do
Variety stores
do
Liquor stores
do
Estimated inventories, end of year or month: t
Book value (unadjusted), total t
mil. $._
Durable goods stores 9
do
Automotive dealers
do
Furniture, home furn., and equip
do
Building materials and hardware
do
7,058
4,852
456
739
903
7,068
4,825
476
746
884
7,429
5,094
482
788
919
7,421
5, 081
496
774
941
34,862 ' 35,204 ' 35,979 i 35,581
' 2, 369 '2,371 i 2, 192
2,311
528
'507
505
912
'935
906
379
'374
354
1,522 ' 1, 572 ' 1, 645 i 1, 655
4,213 ' 4, 174 '4,313 14,317
11,433 ' 11,424 ' 11,639 1i 11,365
10,642 r 10,625 ' 10,823 10,560
3,867 ' 3, 861 ' 3, 851 i 3, 880
' 8, 621 i 8, 524
72, 056
33, 747
17, 255
5,186
4,425
71, 127
32, 725
16, 246
4,755
4,600
72,475
33, 499
16, 720
4,732
4,675
72,847
33, 852
17, 033
4,686
4,731
72,050
33, 604
16, 814
4,658
4,769
71,669
33, 419
16, 562
4,662
4,755
71,268
32, 725
16, 096
4,640
4,642
70, 295
31, 243
14, 738
4,658
4,673
72,327
31, 984
15, 321
4,725
4,650
75, 854
32, 629
15, 678
4,877
4,677
76, 620
33, 208
16, 056
4,911
4,680
71, 127
32, 725
16, 246
4,755
4,600
71, 256
32, 967
16,413
4,660
4,728
73, 350
33, 762
16, 987
4,619
4,842
75, 914
35, 017
17, 664
4,753
5,044
38, 309
5,280
8,130
38, 402
5,293
8,247
38, 976
5,512
7,900
38, 995
5,515
7,883
38, 446
5,488
7,865
38, 250
5,353
7,865
38, 543
5,377
7,889
39, 052
5,508
7,896
40,343
5,820
8,074
43, 225
6,127
8,346
43, 412
6,099
8,434
38, 402
5,293
8,247
38, 289
5,237
8,072
39, 588
5,513
8,154
40, 897
5,798
8,219
15, 540
9,246
15,006
9,128
16, 056
9,505
16, 169
9,631
15, 870
9,540
15, 765
9,373
15, 954
9,478
16,310
9,772
16,978
10,267
18, 895
11, 574
18, 732
11, 662
15, 006
9,128
15, 239
9,232
16, 072
9,712
17, 082
10, 440
74, 082
34, 649
17,794
5,238
4,581
73, 081
33, 592
16, 748
4,798
4,762
71,728
32, 460
15, 723
4,780
4,570
71,483
32, 375
15, 817
4,667
4,562
70,826
32, 086
15, 605
4,630
4,590
70,840
31, 909
15, 294
4,657
4,635
71,503
32, 270
15, 540
4,677
4,624
72,578
33,324
16, 729
4,686
4,706
73,049
33, 471
16, 671
4,701
4,745
74, 642
33, 813
17, 004
4,749
4,787
73, 839
33, 712
16, 795
4,718
4,830
73, 081
33, 592
16, 748
4,798
4,762
73, 610
33, 510
16, 596
4,789
4,820
74, 344
33, 490
16,492
4,742
4,823
75, 089
33, 920
16, 617
4,801
4,931
39, 433
5,517
8,010
39, 489
5,537
8,125
39, 268
5,540
7,916
39, 108
5,537
7,883
38, 740
5,583
7,881
38, 931
5,547
7,873
39, 233
5,538
7,977
39, 254
5,432
8,024
39,578
5,517
8,189
40, 829
5,668
8,190
40, 127
5,534
8,079
39, 489
5,537
8,125
40, 100
5,674
8,195
40, 854
5,749
8,303
41, 169
5,827
8,235
16, 621
16, 049 16, 294 16, 251 15, 997
9.868
9.742
9. 617
9.630
9.595
' Revised. .1 Advance estimate.
If Data may be understated because of deficiencies in
the probability sample being used for current estimates (the 1972 Census of Retail Trade
indicates that total retail sales for 1972 were 4.8 percent higher than the estimates made from
the sample). A comprehensive revision of the survey (including the selection of a new and
improved sample) is now underway; revised data will be introduced upon its completion.
9 Includes data not shown separately.
cf Comprises lumber yards, building materials
16, 055
9.597
16, 156
9.696
16, 289
9.841
16,392
9.958
17, 345
10. 541
16, 767
10. 257
16, 049
9.742
16, 500
10. 013
16, 943
10. 332
17, 299
10. 556
Nondurable goods stores 9 _ _
do
Apparel and accessory stores
do
Food stores .
do
General merchandise group with nonstores
mil. $..
Department stores
do
do
do
do
do
do
Nondurable goods stores 9
do
Apparel and accessory stores
do
Food stores
do
General merchandise group with nonstores .
mil. $
Department stores.
do
8, 480
1
14, 965
8,447
7,654
793
Lumber bldg materials dealers cf
Hardware stores
Book value (seas, adj ), total t
Durable goods stores 9
Automotive dealers
Furniture, home furn., and equip
Building materials and hardware
1
' 7, 708
14, 703
8,263
7,508
755
do
do
Shoe stores
r
i 2, 275
14, 165
7,901
7,164
737
Furniture, home furn. , and equip. 9
Furniture homefurnishings stores
Drug and proprietary stores
Eating and drinking places
Food stores
Grocery stores
Gasoline service stations
14,764 ' 17,634 1 18,321
' 8, 954 ' 10,837 i 11,190
' 8, 311 10, 035
802
'643
13, 378
7,361
6,623
738
Durable goods stores 9 A
do
Automotive dealers A
do
Passenger car, other auto, dealers A- -do
Nondurable goods stores 9
Apparel and accessory stores
.Men's and boys' wear stores
r
dealers, and paint, plumbing, and electrical stores.
§ Except department stores mail order.
J Series revised beginning Jan. 1971 to reflect benchmark data from the 1972, 1973, and 1974
Annual Retail Trade Reports and new seas, factors; revisions for Jan. 1971-July 1974 appear
on p. 26 ft. of the Nov. 1975 SURVEY.
A Revisions for Jan.-July 1974 appear on p. 26 ff. of
the Nov. 1975 SURVEY.
SURVEY OF CURRENT BUSINESS
May 1976
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
S-13
1975
1975
Annual
Mar.
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
Firms with 11 or more stores:
Estimated sales (unadj.), total?
mil. $
14, 124 f 13 349
169 434
183 076
14342
13 917
15 860
14 687
14 729
15 710
14744
15870
16 606
21 871
6,428
2 390
1,737
6,451
6,834
2,598
1,806
7,103
563
209
162
548
502
185
138
531
573
221
150
590
534
201
140
592
468
188
115
570
606
239
166
604
580
223
165
571
582
224
155
594
617
232
157
593
1,014
378
234
937
444
166
117
575
Apparel and accessory stores 9
--do
Women's apparel, accessory stores
do
Shoe stores
_ _ _ do
Drug and proprietary stores
_
do
'401
153
r
107
'578
15 469
499
187
133
641
General merchandise group with nonstores 9
mil. $
General merchandise group without nonstores § ._ _
._
_.
mil. $
Dept. stores, excl. mail order sales
do
Variety stores
_ _ do
70, 597
75, 629
5,559
5,574
6 372
5 948
5 745
6,349
6 119
6 522
7,536
11 299
4,868
r
4, 876
6,137
67, 289
49, 802
6,988
72, 339
54, 159
7,355
5,278
3,900
564
5,305
3,983
532
6,094
4 607
646
5,688
4 321
576
5,505
4 140
528
6,092
4,543
636
5,827
4 373
566
6,175
4 547
596
7,212
5,365
682
11, 010
8 353
1 196
4,650
3,489
437
r 4, 636
r
3r 425
453
5,805
4 288
552
Grocery stores
Tire, battery, accessory dealers
62, 614
2,168
68, 432
2,251
5,702
175
5,268
198
6 079
210
5 457
215
5 812
195
6,023
195
5 454
180
5 977
200
5,788
185
6 108
202
6,212
153
r
5 913
182
do
14,882
14, 624
15 149
15 325
15,388
15 625
15530
15 374
15 810
16 007
15 663
do
do
do
do
540
203
141
586
545
203
152
558
574
216
153
574
575
214
152
607
555
224
137
594
614
244
159
607
580
226
145
608
560
215
153
601
569
215
153
630
606
219
165
631
576
221
145
622
do
do
_ _
Estimated sales (seas, adj.), total 9
Apparel and accessory stores 9
Women's apparel, accessory stores
Shoe stores
Drug and proprietary stores
r
5 504
142
16 079 16 534
149
r
654
583
208
158
723
r 586
r
222
General merchandise group with nonstores 9 - mil. $
General merchandise group without nonstores §
mil. $
Dept. stores excl mail order sales
do
Variety stores
do
6,038
6,012
6,325
6,352
6,225
6,474
6 452
6 316
6,595
6 724
6,359
r
6 677
6,861
5,768
4,333
595
5,730
4,297
598
6 055
4 539
640
6 075
4 534
625
5,952
4 476
580
6,208
4 636
652
6 165
4 603
625
6 040
4 493
*605
6 317
4 773
617
6 439
4 831
625
6 084
4 525
608
r
6 420
r 626
6 545
4 906
650
Grocery stores
Tire, battery, accessory dealers
5,668
189
5 510
186
5 577
194
5 708
197
5 889
178
5 775
184
5 784
189
5 764
183
5 882
'l86
5 828
193
5 871
191
r
5 957
187
6 046
193
do
do
All retail stores, accts. receivable, end of yr. or mo.:
Total (unadjusted)
mil $
Durable goods stores
do
Nondurable goods stores
__
_ do
Charge accounts. _ _ _. _
Installment accounts
Total (seasonally adjusted)
Durable goods stores
Nondurable goods stores
r 4 817
28,916
8,578
20, 338
29, 625
8,901
20, 724
26,694
8,114
18,580
26961
8,306
18,655
27 663
8 652
19,011
27 341 26 988
8 781 8,795
18 560 18, 193
27,089
8,830
18,259
27 376
8 979
18397
27 563
9*015
18 548
27 726
8 781
18 945
29 625
8 901
20 724
28 221
8 433
19 788
27 931
8 565
19 366
do
. do
10,806
18, 110
11, 428
18, 197
10,214
16,480
10,550
16,411
11 221
16, 442
11 049
16 292
10 813
16, 175
10709
16380
10 940
16436
11 196
16 367
11 069
16 657
11 428
18 197
10 990
17 231
10 937
16 994
do
do
do
27, 035
8 434
18, 601
27, 764
8 799
18, 965
27,129
8,418
18,711
27303
8 515
18 788
27 606
8 610
18 996
27 402
8 593
18 809
27 609
8 719
18 890
27525
8 632
18 893
27612
8 726
18 886
27617
8 767
18 gso
27 460
8 756
18 704
27 764
8 799
18 965
27 895
8 749
19 146
28 303
8 998
19 305
do
do
10 374
16 661
11 028
16 736
10,510
16,619
10659
16 644
10 902
16 704
10 786
16 616
10 938
16 671
10 794
16 731
10 910
16 702
11 016
16 601
10 942
16 518
11 028
16 736
11 330
16 565
11 447
16 856
_
_
Charge accounts.
Installment accounts. _ _
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total, Incl. armed forces overseas \
mil..
1
211.89
1
214. 85
213. 63
213. 02
213. 14
213.26
213. 47
213.63
213. 81
213. 98
214. 14
214. 28
214. 40
214.53
214. 64
214. 74
94, 793
92 613
84 783
3 380
81 403
7 830
93, 593 93, 564
91 395 91 369
83 036 83 549
2 988 3 171
80 048 80 377
8 359 7 820
93, 949
91 768
84 146
3 622
80 524
7 623
96, 191
94 013
85* 444
3 869
81 575
8 569
97,046
94 859
86 650
4 090
82 560
8 209
96, 493
94 308
86 612
3 886
82 726
7 696
94, 965
92 795
85 274
3 626
81 647
7 522
95, 431
93 967
86 023
3 524
82* 499
7 244
94,943
92 787
85 556
3 156
82 400
94,888
92 731
85 536
2 856
82 680
7 195
94, 805
92 665
84 491
2 853
81 638
8 174
94, 944
92 798
84 764
2 802
81 963
8 033
95, 260
93 112
85 588
2 897
82, 691
7 525
95,618
93 474
86 584
3,273
83,311
6 890
92,254 92,769 92,569
84 313 84 519 84 498
3 301 3 528 3 350
81 012 80 991 81 148
7 770 7 941 8 250 8 071
1 978 2*278 2 529 2 751
93063
84 967
3 439
81 528
93 212
85 288
3 464
81 824
93 128
85 158
3 512
81 646
93 213
85 151
3 408
81 743
93 117 93 129
85 178 85 394
3 301 3 236
81 ' 877 82 158
93 484
86 194
3 343
82 851
93
86
3
83
455
319
170
149
93, 719
86 692
3,179
83 513
94, 439
87, 399
3,417
83 982
8 096
2 954
7 924
2*878
7 970
2 934
8 062
2 719
7 939
3*004
7 735
3 080
7 290
2 785
7 136
2 515
7 027
2,294
7,040
2,035
8
7
8
20
8
6
7
20
8
7
7
19
8
7
7
19
8
7
7
19
8
6
8
19
7
5
7
19
8
8
5
9
76
5.7
7 5
19 2
7 5
5.6
7 3
19 1
7.5
5.4
7.3
19.2
LABOR FORCE <?
Not Seasonally Adjusted
Labor force, persons 16 years of age and over_.thous_
Civilian labor force
.
do
Employed, total
_
do
Agriculture
do
Nonagricultural industries
do
Unemployed
_.
do
Seasonally Adjusted cf
Civilian labor force. .
do
Employed, total
.
do
Agriculture
do
Nonagricultural industries
do
Unemployed
do
Long-term, 15 weeks and over ..
do
Rates (unemployed in each group as percent
of total in the group):
All civilian workers . .
Men, 20 years and over
Women, 20 years and over
Both sexes, 16-19 years
White
Negro and other races..
Married men, wife present
Occupation: White-collar workers
Blue-collar workers
Industry of last job (n on agricultural)":
Private wage and salary workers
Construction
__
Manufacturing
Durable goods
93, 240
91 Oil
85 936
3 492
82,443
5 076
91,880
84 HO
3 268
80 842
937
2 483
56
3.8
55
16.0
85
6.7
80
19 9
85
66
83
20 1
86
68
85
19 7
8
7
8
20
50
9.9
2.7
7 8
13 9
51
78
13 8
50
79
14 1
53
83
14 2
57
80
14 0
55
81
13 4
55
78
14 3
52
78
14 4
55
80
14 3
53
78
13 9
51
76
13 8
4 8
71
13 2
41
68
13.7
4.1
68
12.5
4.1
6.7
13.0
3.9
3.3
6.7
4.7
11.7
4 6
12 0
4 8
12 6
53
12 8
4 8
12 4
48
12 3
4 6
11 9
48
11 9
48
11 6
4 8
11 3
4.8
10.7
4.7
9.4
4.6
9.3
4.6
9.1
4.8
9.0
5.7
10.6
5 7
5.4
9 2
18 1
10 9
11.3
91
18 0
11 0
10.8
96
19 0
11 8
12.2
98
20 9
11 9
19 a
96
20 5
12 0
9 4
20 4
11 5
12.1
93
19 7
11 1
9 2
18 7
10 8
11.5
92
18 1
10 6
1l!l
9 2
17 5
10 5
89
16 6
96
9.9
81
15.4
81
&2
8.0
15.5
8 0
8.0
7.7
16.0
7 3
7.4
7.6
15.3
7.6
7.7
'•Revised.
v Preliminary.
1 As of July 1.
I lncludes data not shown separately.
§ Except department stores mail order.
™J inJS^-S back to 197° &PPear in p~25» No- 545> "Population Estimates and Projections"
(May 1975), Bureau of the Census.
^Beginning in the Feb. 1976 SURVEY, data (revised back to Jan. 1971) reflect new seasonal
7 9^1
9
2
4
3
8
7
8
20
7
0
2
7
12 7
7
1
0
5
5
8
9
7
12. n
6
2
8
4
6
2
9
8
5
1
9
0
in! s
3
6
0
6
factors and a modification of the procedures previously used to seasonally adjust a few of the
series (teenage unemployment and those few other unemployment series of which teenagers
are the exclusive or major part). Comparable monthly data back to 1967 appear in EMPLOYMENT AND EARNINGS (Feb. 1976), TJSDL, BLS.
SUEVEY OF CUEEENT BUSINESS
S-14
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1974
1976
1975
1975
Annual
May 1976
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.p
Apr.?
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT J
Employees on payrolls of nonagricultural estab.:
Total, not adjusted for seasonal variation. --thous..
Private sector (excl. government).
do._
78, 413
64, 236
76, 985
62, 212
75, 778
60, 884
76, 177
61, 269
76, 689
61, 750
77, 183
62, 387
76, 439
62, 220
76,900
62,788
77,614
63,054
78,193
63,132
78,339
63,151
78, 527
63, 300
77,091 r 77,339 ' 77,827
62,050 ' 62,098 ' 62,523
78, 617
63,314
78, 413
64, 236
44, 190
24, 697
694
3,957
76, 985
62, 212
43, 865
22, 549
745
3,457
76, 468
61, 850
43, 624
22, 422
729
3,467
76, 462
61, 770
43, 615
22, 328
732
3,441
76, 510
61, 784
43, 622
22,339
738
3,439
76, 343
61, 652
43, 552
22, 233
741
3,392
76, 679
61, 863
43, 779
22, 222
743
3,395
77,023
62,168
43,914
22,418
749
3,415
77,310
62,465
44,048
22,601
752
3,432
77,555
62,591
44,098
22,669
774
3,402
77,574
62, 599
44,117
22,657
766
3,409
77, 796
62, 793
44, 225
22, 743
769
3,406
78,179 'f 78,368 ' 78,545
63,214 r 63,370 " 63,528
44,492 44,607 ' 44,676
22,914 ^ 22,901 " 22,977
764
'770
'763
3,428 r 3, 375 ' 3, 355
78, 888
63, 807
44, 851
23, 115
774
3,385
20, 046
11, 895
177
626
517
690
1,344
1,505
2,218
2,030
1,821
520
448
18, 347
10, 679
171
557
451
614
1,180
1,336
2,069
1,761
1,649
489
404
18, 226
10, 728
177
539
434
610
1,218
1,336
2,128
1,773
1,624
490
399
18, 155
10, 637
176
536
436
608
1,189
1,332
2,098
1,746
1,631
488
397
18, 162
10, 595
177
546
439
609
1,168
1,324
2,064
1,735
1,653
481
399
18, 100
10, 527
173
552
437
605
1,149
1,317
2,035
1,723
1,657
481
398
18, 084
10, 465
172
557
441
604
1,134
1,298
2,017
1,712
1,645
482
403
18,254
10,563
167
563
452
610
1,148
1,331
2,013
1,747
1,645
481
406
18,417
10, 650
165
568
464
615
1,169
1,340
2,035
1, 755
1,643
486
410
18,493
10, 661
164
576
467
615
1,149
1,344
2,039
1,767
1,641
490
409
18,482
10,653
161
576
470
616
1,146
1,339
2,032
1,764
1,648
492
409
18,568
10, 717
163
581
473
616
1,158
1,344
2,030
1,773
1,676
494
409
18,722 " 18,763 ' 18,852
10,820 ' 10,846 r 10,926
162
162
••161
592
••597
••595
487
477
••484
'612
616
••616
1,162 " 1, 168 " 1, 170
1,369 ' 1, 379
1,358
2,039 r 2, 039 " 2, 046
1,785 r 1,795 '1,819
1,712
1,699
1,723
501
'504
498
"424
419
••422
18, 956
10, 996
161
600
492
618
1,180
1,386
2,052
1,836
1,735
509
427
8,151
1,713
80
988
1,348
702
1,112
1,057
199
676
278
7,668
1,676
78
902
1,235
643
1,079
1,013
197
588
257
7,498
1,659
77
845
1,180
636
1,089
1,009
194
564
245
7,518
1,664
75
865
1,191
629
1,084
1,003
193
568
246
7,567
1,670
75
885
1,205
631
1,079
1,004
195
574
249
7,573
1,671
75
891
1,215
627
1,073
1,000
197
572
252
7,619
1,668
79
897
1,245
633
1,068
999
199
575
256
7,691
1,688
78
918
1,245
639
1,072
1,008
199
588
256
7,767
1,693
80
938
1,261
648
1,075
1,011
200
599
262
7,832
1,695
79
953
1,287
652
1,071
1,019
201
608
267
7,829
1,688
81
950
1,290
652
1,072
1,020
202
604
270
7,851
1,688
79
955
1,299
658
1,074
1,018
201
608
271
7,902
1,700
79
958
1,314
665
1,069
1,024
203
615
275
Service-producing
._ do
Trans., comm., electric, gas, etc
..do
Wholesale and retail trade
do
Wholesale trade
do
Retail trade
do
Finance, insurance, and real estate
do
Services .
do
Government.
. .
do
Federal
..
do
State and local
do
53, 715
4,696
17,017
4,223
12, 794
4,208
13, 617
14, 177
2,724
11,453
54,436
4,498
16, 947
4,177
12, 771
4,223
13, 995
14, 773
2,748
12, 025
54, 046
4,506
16, 851
4,178
12, 673
4,207
13, 864
14, 618
2,733
11, 885
54, 134
4,508
16, 847
4,176
12,671
4,209
13, 878
14, 692
2,731
11,961
54, 171
4,491
16, 857
4,175
12, 682
4,208
13, 889
14, 726
2,732
11, 994
54, 110
4,469
16, 877
4,153
12, 724
4,202
13, 871
14, 691
2,738
11, 953
54,457
4,464
16, 984
4,161
12, 823
4,203
13, 990
14, 816
2,745
12, 071
54,605
4,466
17, 016
4,159
12,857
4,218
14, 050
14,855
2,756
12,099
54,709
4,467
17,045
4,181
12,864
4,239
14,113
14,845
2, 765
12,080
54,886
4,476
17,043
4,180
12,863
4,246
14,157
14,964
2,767
12,197
54, 917
4,496
17,010
4,174
12,836
4,248
14,188
14,975
2,761
12,214
55, 053
4,477
17, 080
4,190
12, 890
4,264
14, 229
15, 003
2,755
12, 248
55,265
4,494
17,233
4,214
13,019
4,266
14,307
14, 965
2,746
12, 219
Production or nonsupervisory workers on private
nonagric. payrolls, not seas, adjusted
thous..
Manufacturing
do
53, 029
14, 613
51, 046
13, 070
49, 765
12, 757
50, 138
12, 731
50, 601
12, 807
51, 207
12, 981
51, 041
12, 744
51, 601
13,180
51, 873
13,428
51, 950
13,420
51,952
13,370
Production or nonsupervisory workers on private
nonagricultural payrolls}
thous..
Goods-producing... . _
do
Mining
do
Contract construction
.
do
Manufacturing
do
Durable goods
do
Ordnance and accessories
do
Lumber and wood products
. do
Furniture andfixtures._. .
do
Stone, clay, and glass products
do
Primary metal industries.
do
F abricated meta 1 products
do
Machinery, except electrical
do
Electrical equipment and supplies.. .do
Transportation equipment
do
Instruments and related products
do
Miscellaneous manufacturing
do
53, 029
18, 374
527
3,234
14, 613
8,641
85
533
423
552
1,074
1,150
1,495
1,372
1,285
322
350
51, 046
16, 397
565
2,762
13, 070
7,543
80
464
364
485
919
996
1,346
1,140
1,148
293
309
50, 663
16, 230
553
2,762
12, 915
7,561
84
448
347
479
950
993
1,400
1,143
1,122
292
303
50, 585
16, 161
553
2,745
12, 863
7,483
84
444
349
478
923
992
1,372
1,123
1,126
291
301
50, 629
16, 194
560
2,747
12, 887
7,454
84
454
354
479
905
985
1,339
1,113
1, 151
287
303
50, 536
16, 122
561
2,712
12, 849
7,404
82
459
351
477
889
979
1,317
1,106
1, 155
286
303
50,736
16, 115
564
2, 711
12, 840
7,348
81
463
355
477
878
960
1,300
1,097
1,143
287
307
51, 052
16,312
567
2,734
13,011
7,450
77
469
366
483
892
993
1,300
1,131
1,142
286
311
51,315
16,467
569
2,741
13,157
7,527
75
475
379
488
911
1,000
1,314
1,139
1,140
291
315
51,435
16,532
585
2,712
13,235
7,548
75
483
381
488
894
1,004
1,319
1,151
1,144
295
314
Nondurable goods
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
5,972
1,164
66
862
1,163
540
671
612
126
530
237
5,528
1,136
65
782
1,061
483
636
570
125
450
219
5,354
1,119
64
727
1,008
474
644
563
122
426
207
5, 380
1,125
62
745
1,020
471
639
558
121
430
209
5,433
1,131
62
766
1,033
472
636
562
123
436
212
5,445
1,133
62
771
1,043
469
631
560
125
436
215
5,492
1,131
65
777
1,071
474
629
560
127
439
219
5,561
1,147
65
800
1,071
479
632
566
128
453
220
5,630
1,150
66
819
1,086
487
632
573
128
463
226
Service-producing ..
do
34, 656 34, 652 34,433 34, 424 34,435
Transportation, comm., elec., gas, etc
do
3,849
4,058
3,865
3,869
3,857
Wholesale and retail trade
do
15,065
14, 964 14, 863 14, 858 14, 862
Wholesale trade
do
3,458
3,526
3,464
3,461
3,462
Retail trade .
do
11, 540
11,502 11,399 11,397 11,404
Finance, insurance, and real estate
do
3,209
3,240
3,210
3,221
3,206
Services...
do
12, 293 12, 607 12, 491 12, 495 12, 515
r
Revised.
r> Preliminary.
{Effective with the Oct. 1975 SURVEY, all establ ishment ( payroll) employnlent, ho urs,
earnings, and labor turnover reflect the periodic ac justment of these data to more rec ent
benchmarks (Mar. 1974) and to revised seasonal facl,ors. Data back to ,Fan. 1970 are sub ject
to revision. The Oct. 1975 EMPLOYMENT AND EARNFVGS (BLS ) provides monthl1y data b ack
to 1970 for many of the series published in the SURV EY.
34, 414
3,831
14, 896
3,440
11,456
3,208
12, 479
34,621
3,827
14, 992
3,448
11, 544
3,203
12, 599
34, 740
3,825
15, 032
3,445
11,587
3,218
12,665
34, 848
3,828
15, 076
3,463
11, 613
3,234
12,710
Seasonally Adjusted}
Total employees, nonagricultural payrollst_.do
Private sector (excl. government) . _. do
Nonmanufacturing industries
do
Goods-producing
do
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
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
do
Nondurable goods
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
r
7, 917
'1,709
77
964
r
1,306
••667
r
1, 069
* 1, 029
"204
617
275
' 7, 926
' 1, 689
'74
'963
1,321
'668
' 1, 073
' 1, 030
204
"627
'277
7,960
1,704
74
971
1,317
668
1,076
1,031
203
636
280
r 55,467
" 4, 517
" 17,326
" 4, 236
r 13,090
r 4, 266
r 14,360
r 14,998
2,740
' 12,258
'r 55,568
4, 493
' 17,371
' 4, 233
' 13,138
' 4, 276
" 14,411
" 2, 732
' 12,285
55, 773
4,497
17, 429
4,249
13, 180
4,300
14, 466
15, 081
2,731
12, 350
52, 113
13, 329
50,872 " 50,907 r 51,303
13,243 r 13,290 13, 397
51, 973
13, 517
51,420
16,512
581
2,709
13,222
7,539
71
481
384
489
892
1,000
1,310
1,147
1,155
296
314
51, 592
16, 600
587
2, 702
13,311
7,603
73
485
387
489
903
1,006
1,308
1,160
1,182
298
312
51,963 52,103
16,744 r 16,723
582
••577
2,714 " 2, 659
13,448 r 13,487
7,698 r 7, 722
73
73
496
"497
390
'397
489
••486
907
••911
1,020
1,030
1,317 ••1,318
1,171 " 1, 179
1,211
1,202
302
304
322
••325
' 52,231
" 16,791
"584
" 2, 645
" 13,562
" 7, 790
73
'499
"400
"488
"914
" 1, 039
" 1, 324
" 1, 200
"1,221
"306
"326
52, 421
16, 911
582
2,673
13, 656
7,854
73
502
404
492
922
1,047
1,324
1,218
1,233
311
328
5,687
1,154
65
832
1,107
490
630
579
129
471
230
5,683
1,143
67
831
1,112
492
629
580
130
466
233
5,708
1,144
66
836
1,121
497
631
579
130
470
234
5,750
1,156
66
837
1,133
502
627
583
131
477
238
••505
••626
'587
132
479
238
" 5, 772
" 1, 147
"61
"841
" 1, 139
506
"628
"588
"132
"489
"241
5,802
1,159
61
848
1,135
508
631
590
132
496
242
34,903
3,835
15, 077
3,459
11,618
3,232
12,759
34,908
3,854
15,031
3,452
11,579
3,240
12, 783
34, 992
3,832
15, 087
3,467
11,620
3,251
12, 822
35,219
3,854
15,226
3,492
11,734
3,258
12,881
' 35,380
3,880
" 15,304
3,509
" 11,795
'3,258
" 12,938
" 35,440
" 3, 856
' 15,334
" 3, 504
" 11,830
"3,265
" 12,985
35,510
3,854
15, 385
3,515
11,870
3,278
12, 993
" 15,017
Seasonally Adjusted!
r 5, 765
1,166
64
••841
r 1, 127
(effective May 1,
ON[OTE F OR P. S-16: In acjcordanc(i with th e 1975 Ta x Reduction Act
; spend1975), new fornaulas ha\re been ccmstructe d for the period M ay-Dec, 1975 for c ilculatini
or
in the period
ounted
1
es
is
ace
able (earnings. Therefo -e, the eiitire red action in 1975 tas
r<3 fleets a
May- Dec. 1975 . The 4.5% increa >e from A.pr. to M ay 1975 iri real spendable e arnings
(the change
• l%d ecrease iri real wee,kly earn ngs plus a4.6%d 3crease in the aver age tax e fleet
earned
in av srage soc al security/federa 1 income tax rate 3 for wor ker with 3 depend ents who
the ai^erage wejekly ear nings).
SUKVEY OF CURRENT BUSINESS
May 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1974
1975
Annual
S-15
1976
1975
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.?
Apr.p
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
AVERAGE HOURS PER WEEK
Seasonally Adjusted
Avg. weekly hours per worker on private nonagric.
payrolls:tU Seasonally adjusted
hours..
Not seasonally adjusted. _ do
Mining
_
do
Contract construction
do .
Manufacturing: Not seasonally adjusted. ..do
Seasonally adjusted
do
Overtime hours
do
36.6
42.4
36.9
40.0
3.2
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
40 7
3.4
41.7
39.7
39 0
41.4
41.7
40.8
42.3
39.8
40.1
40.2
38.5
Nondurable goods
_
Overtime hours
Food and kindred products
Tobacco manufacturesTextile mill products
Apparel and other textile products
do
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
26
35.9
35 6
41 9
34 9
38.7
38 9
2 3
35.9
35 7
41 1
36 8
38.9
39 1
23
35.9
35 8
42 6
36 9
39.0
39 0
2 4
36.0
36 3
42 2
35 7
39.5
39.3
24
36.0
36 4
42 1
36 2
39.2
39.4
26
36.2
36 6
41 8
36 7
39.7
39.7
28
36.1
36 3
49 i
36.7
40.2
39.8
2.8
36.2
36 2
42 7
36 6
39.9
39 8
28
36. 3
36 2
42 9
36 8
40.1
39 9
28
36.4
36 5
42.8
37.3
40.8
40.3
3.0
36.5
36.0
43.0
37.7
39.9
40.5
3.0
'36.4
'36 0
'43 1
'37.9
'39.9
'40.3
3.1
36.2
35 9
'43.0
35.9
40.0
40.2
3.2
36.0
35 8
43 5
37 3
39.1
39.3
2 4
39 9
2 5
41.3
39.1
37 9
40.6
40.0
40.0
40.9
39.5
40.3
39.5
38.3
39 5
2 3
41.3
38.0
36 6
39 6
40 0
39.7
40.9
39 2
39.1
39.1
37.7
39 7
2 4
41.3
38.8
37 2
40 3
39 7
39.7
41.0
39 4
40.5
39.2
38.1
39 5
2 2
41.1
38.8
37 5
40 2
39 5
39.5
40.5
39 1
39.5
39.3
38.1
39 6
2 3
41.6
39.0
37 6
40 3
39 6
39.5
40.4
39 3
40.0
39.4
38.3
39 8
2 5
40.1
39.1
37 8
40 6
39 7
39.5
40.5
39 5
40.7
39.7
38.1
40 2
27
41.2
39.5
38 3
40 7
39 9
40.0
40.8
39 6
41.2
39.5
38.2
40 2
2.7
41.7
39.6
38.9
40.8
39.9
40.2
40.7
39.6
40.9
39.7
38.7
40 0
2 6
41.6
39.8
38 9
40 8
39 9
40.4
40.6
39 6
40.4
39.7
38.8
40 2
27
41.7
39.4
39 1
40 9
40 2
40.5
40.9
39 6
40.8
39.9
38.6
40 7
2.9
41.3
40.2
39.5
41.3
40.3
41.1
41.2
40.1
41.9
40.3
39.2
40.9
2.9
41.4
40.8
39.4
41.5
40.4
41.0
41.3
40.4
41.7
40.4
39.1
'40 7
'3.0
'40.7
'40.5
'39.3
41.4
'40.6
41.0
41.2
40.2
'41.6
'40.2
'38.7
40 6
3.1
'40.7
'40.0
'39.0
'40.7
'40.6
'40.9
41.0
40.1
'42.0
'40.2
'38.8
39 7
2 4
40.0
40.1
38 6
40.8
40.1
39.4
40.2
39.0
40.6
39.4
37.9
39.1
3.0
40.4
38.0
39.4
35.1
38.8
2.7
40.3
38.0
39.2
35.1
37 9
2 2
40.2
38 6
36.9
33.8
38 0
2 2
39! 9
38 3
37.7
34.3
38 3
24
39.9
36 9
38.9
34.4
38.7
26
39.9
39 8
39.2
35.2
38.8
28
40.1
35.4
39.6
35.2
39 3
29
40.7
37.6
40.4
35.5
39.4
3.0
40.9
38.0
40.9
36.0
39 5
30
40.6
37 5
41.0
36.2
39 5
30
40.4
39 7
41.0
36.1
39.7
3.2
40.5
37.7
41.2
36.6
39.9
3.3
40.7
39.1
41.4
36.6
39.7
3.1
' 40. 5
'39.5
40.9
'36.3
39.5
3.2
'40.2
'39.3
'40.7
36.1
38.7
2.5
40.1
39.3
39.0
35.0
do
do
do
do
do
do
42.1
37.6
41.6
42.5
40.4
37.2
41.6
37.0
40.9
41.6
39.7
37.4
40.5
37 0
40.4
41.7
38.7
35 3
40.4
36.8
40.3
41.0
39.0
36.5
40.9
36.7
40.6
41.5
39.6
36.5
41.5
36.7
40.7
41.2
39.6
37.5
41.6
36.7
40.9
41.3
40.0
37.8
42.1
37.1
41.1
41.0
40.1
38.0
42.2
36.9
41.3
41.6
40.1
38.4
42.3
37.0
41.4
41.8
40.0
38.9
42.4
37.3
41.4
42.0
40.0
38.4
42.9
37.6
41.7
41.8
40.6
38.7
42.7
37.8
41.6
42.5
40.9
38.6
42.7
'37.5
'41.7
'42.4
40.9
38.4
42.5
'37.5
41.5
'42.2
'41.0
'38.6
41.7
37.0
41.8
41.9
39.4
37.2
do
do
do
do
do
do
40.2
34.1
38.9
32.7
36.7
33.9
39.6
33.8
38.6
32.4
36.5
33.8
39 7
33 9
38 6
32.5
36.6
33 8
39 8
33.7
38.6
32.3
36.2
33.7
39 2
33 9
38.6
32.5
36.4
33 9
39.5
33.8
38.4
32.4
36.5
33.9
39.4
33.6
38.5
32.2
36.3
33.7
39.5
33.8
38.6
32.3
36.3
33.8
39.7
33.6
38.5
32.2
36.3
33.6
39 7
33.9
38.8
32.3
36.4
33.7
39.6
33.8
38.7
32.5
36.7
33.9
39.9
33.9
38.8
32.4
36.4
33.6
39.6
33.9
38.9
32.5
36.5
33.7
'39.8
33.9
38.8
'32.3
'36.7
33.7
'40.0
'33.7
'38.7
'32.2
'36.5
'33.5
39.7
33.9
38.9
32.6
36.4
33.5
Employee-hours, wage & salary workers in nonagric. establish. , for 1 week in the month, seasonally adjusted at annual ratet
bil. hours. . 150. 72
122. 63
Total private sector
do
Mining
_.
do .
1.53
Contract construction. _ .
do
7.58
Manufacturing.
_
do
41.50
9.82
Transportation, comm., elec., gas
do
Wholesale and retail trade _
do
30.27
Finance, insurance, and real estate
do
8.01
Services
do
23.93
Government
do
28.08
146. 75
117 58
1.64
6.58
37.62
9.27
29.88
8.01
24.59
29.17
145. 38
116 34
1.59
6.29
36.98
9.30
29.80
8.01
24.37
29.04
145. 58
116 32
1.56
6.58
36.94
9.33
29 66
7.92
24.32
29 26
145. 70
116 60
1.64
6.60
36.95
9.16
29.81
7.96
24.48
29.10
145.04
116. 24
1.63
6.30
36.98
9.18
29.73
7.98
24.45
28.80
145. 35
116. 46
1.63
6.39
37.05
9.15
29.80
7.93
24.52
28.89
146.81
117.61
1.63
6.52
37.70
9.17
29.94
7.96
24.69
29.20
147.26
11800
1.65
6.55
38.06
9.18
29.91
8.00
24.66
29 26
148.29
118.49
1.72
6.48
38.17
9.24
30.04
8.04
24.81
29.80
148.44
118.92
1.71
6.52
38.22
9.26
30.09
8.11
25.01
29.51
149.09
119.37
1.71
6.61
38.66
9.29
30.17
8.07
24.86
29.72
150.30
120. 50
1.71
6.72
39.12
9.25
30.53
8.10
25.07
29.80
' 149,78
' 120.62
1.71
'6.65
' 39. 07
'9.35
' 30. 53
'8.14
25.16
' 29. 17
149. 74
120. 22
' 1.72
6.26
' 39. 16
'9.34
' 30. 52
'8.12
' 25. 10
' 29. 52
148. 95
120. 64
1.75
6.57
38.76
9.28
30.94
8.14
25.20
28.31
113.0
103.4
111.7
117.1
100.7
102 0
98.8
119.7
108.6
116.2
114.4
116 9
125.0
127.9
107.4
91.2
119.5
99.0
88.8
87.5
90.8
118.6
101.7
114.3
111.6
115.3
123.5
130.8
105.9
88.4
115.9
94.5
86.4
86 6
86.0
118 1
102.1
113.9
111.6
114 8
123.6
129.6
106.0
89.2
113.7
99 0
86 6
86 5
86.7
117 6
102.3
113.4
111.5
114 0
122.1
129 3
106.3
89.4
119.4
99.3
86.6
85 4
88.2
118.0
100.3
113.9
111.4
114.8
122.9
130.3
106.0
88.9
118.4
94.9
86.8
85.2
89.1
117.8
100.6
113.7
110.3
115.0
123.2
129.9
106.2
89.3
118.8
96.2
87.1
84.9
90.2
118.0
100.3
114.0
110.8
115.2
122.3
130.4
107.4
91.2
118.6
98.3
89.0
86.7
92.4
118.7
100.5
114.6
111.0
115.9
122. 9
131.4
107.9
92.4
119.9
98.6
90.3
87 7
94.1
118.7
101.1
114.6
111.3
115.8
123.5
131.1
108.4
92.7
125.0
97.3
90.8
87.8
95.1
119.3
101.2
115.1
112.0
116.2
123.7
132.0
108.8
92.9
124.7
97.7
90.9
88.1
95.0
119.8
101.5
115.2
111.5
116.6
125.1
133.1
109.3
94.3
125.7
98.8
92.5
90.0
96.2
119.7
101.7
115.5
112.3
116.6
124.5
132.3
110.3
95.5
125.2
100.3
93.7
91.3
97.1
120.6
101.5
116.8
113.4
118.1
125.1
133.3
'110.5
'95.2
124.4
'98.8
'93.6
'91.3
96.9
'121.0
' 102. 7
'116.8
113.6
'118.0
' 125. 8
' 133. 9
110.1
'94.6
' 125. 6
93.1
'93.9
'91.9
96.7
120.8
102.6
116.7
113.2
118.0
125.3
133.6
110.3
94.3
126.7
97.7
92.6
90.7
95.3
121.5
101.7
118.3
114.1
119.9
125.5
133.6
4.22
5.21
6.75
4 41
4.24
4.69
4.50
4.71
3.91
3.50
4.52
5.60
4.59
4.92
4.17
5.48
4.20
3.50
4.54
5.90
7.25
4 81
4.66
5.14
4.98
5.23
4.28
3.75
4.89
6.17
5.04
5.36
4.58
6.02
4.56
3.79
4.44
5.75
7.14
4 72
4.59
5.02
4.88
5.09
4.14
3.69
4.72
6.01
4.90
5.24
4.48
5 84
4.49
3.73
4.46
5.73
7.12
4 73
4.60
5.04
4.90
5.10
4.13
3.71
4.78
6.01
4.93
5.26
4.51
5.86
4.49
3.75
4.48
5.81
7.12
4 75
4.61
5.06
4.93
5.15
4.17
3.70
4.83
6.04
4.98
5.29
4.53
5.88
4.52
3.75
4.51
5.87
7.18
4.78
4.63
5.10
4.95
5.17
4.25
3.72
4.87
6.07
5.03
5.32
4.58
5.96
4.54
3.78
4.53
5.88
7.24
4.81
4.65
5.13
4.98
5.22
4.31
3.74
4.93
6.11
5.04
5.33
4.61
6.00
4.56
3.79
4.56
5.92
7.27
4.82
4.65
5.16
5.00
5.28
4.39
3.78
4.96
6.29
5.10
5.39
4.60
6.01
4.57
3.79
4.64
6.02
7.42
4.89
4.70
5.24
5.06
5.39
4.43
3.79
5.01
6.39
5.17
5.47
4.66
6.14
4.60
3.82
4.66
6.02
7.42
4.90
4.72
5.26
5.08
5.41
4.42
3.81
5.02
6.35
5.19
5.51
4.66
6.24
4.60
3.83
4.68
6.11
7.45
4.93
4.76
5.29
5.11
5.44
4.41
3.82
5.06
6.43
5.22
5.54
4.70
6.25
4.64
3.87
4.68
6.17
7.51
5.00
4.82
5.38
5.19
5.54
4.43
3.85
5.06
6.48
5.29
5.62
4.78
6.39
4.74
3.94
4.72
6.27
7.50
5.02
4.85
5.38
5.20
5.49
4.46
3.86
5.05
6.51
5.29
5.61
4.77
6.35
4.75
3.97
4.74
'6.29
'7.47
5.04
4.86
5.40
5.21
'5.54
'4.48
3.87
5.07
6.56
5.30
'5.63
4.78
'6.38
'4.77
'3.95
'4.75
'6.29
7.56
'5.06
'4.88
5.43
5.24
'5.57
4.49
'3.90
' 5. 11
6.62
'5.32
5.65
'4.81
'6.44
4.78
'3.96
4.76
6.30
7.49
5.05
4.91
5.40
5.25
5.61
4.47
3.89
5.18
6.71
5.27
5.61
4.75
6.34
4.77
3.95
Trans., comm., elec., gas, etc
Wholesale and retail trade
Wholesale trade..
Retail trade
Finance, insurance, and real estate
Services
36 1
42 3
36 6
39.4
AGGREGATE EMPLOYEE-HOURS
Seasonally Adjusted
Indexes of employee-hours (aggregate weekly) :J1f
Private nonagric. payrolls, total
1967 =100. .
Goods-producing
....
do
Mining.
_
do
Contract construction
do
Manufacturing
do
Durable goods
do
Nondurable goods
do
Service-producing
do
Transportation, comm., elec., gas
.do
Wholesale and retail trade
do
Wholesale trade.
do
Retail trade
do
Finance, insurance, and real estate
do
Services
do
HOURLY AND WEEKLY EARNINGS
Average hourly earnings per workenJU
Not seasonally adjusted:
Private nonagric. payrolls
-dollars-Mining
. _
do
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
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
' Revised.
v Preliminary.
} See note "t", p. S-14.
^Production and nonsupervisory workers.
SUEVEY OF CUKEENT BUSINESS
S-16
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
1975
May 1976
1975
Annual
Mar.
Apr.
May
June
July
1976
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar."
Apr.p
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS— Con.
Avg. hourly earnings per worker, private nonagric.
payrolls. Not seas, adj.t 1f— Continued
Manufacturing— C ontinued
Nondurable goods
dollars
Excluding overtime
do
Food and kindred products
do
Tobacco manufactures _.
do
Textile mill products
do
Apparel and other textile prod
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
Transportation, comm., elec., gas
do
Wholesale and retail trade . _ _
do _
Wholesale trade
do
Retail trade
do
Finance, insurance, and real estate
do
Services
do
Seasonally adjusted: £
Private nonagricultural payrolls.
do
Mining
do
Contract construction
do
Manufacturing
do
Transportation, comm., elec., gas
do
Wholesale and retail trade
do
Finance insurance, and real estate - do
Services
do
Indexes of avg. hourly earnings, seas, adj.: 0 ft
Private nonfarm economy:
Current dollars
1967=100
1967 dollarsA
do .
Mining
....
do
Contract construction
do
Manufacturing
do
Transportation, comm., elec., gas
do
Wholesale and retail trade
do
Finance, insurance, and real estate
.- do
Services
do
Hourly wages, not seasonally adjusted:
Construction wages, 20 cities (E NR): cf
Common labor
.
._ $perhr_.
Skilled labor
do
Farm (U.S.) wage rates, hired workers, by
method of pay:*
All workers, including piece-rate
$ per hr__
All workers, other than piece-rate
do
Workers receiving cash wages only
do
Workers paid per hour, cash wages only. .do
Railroad wages (average class I)§
do
Avg. weekly earnings per worker, Ifprivate nonfarm: J
Current dollars, seasonally adjusted
_.
1967 dollars, seasonally adjustedA
Spendable earnings (worker with 3 dependents):©
Current dollars, seasonally adjusted.. . . .
1967 dollars, seasonally adjustedA
Current dollars, not seasonally adjusted :J
Private nonfarm, total . . .
. _ dollars
Mining
do
Contract construction
do
Manufacturing
_ _ _ _ _ _do _
Durable goods
__.-...
do
Nondurable goods
do
Transportation, comm., elec., gas
do
Wholesale and retail trade
do
Wholesale trade
_ . . . do
Retail trade
do
Finance, insurance, and real estate
do .
Services... ..
._
do
HELP-WANTED ADVERTISING
Seasonally adjusted index f
1967 —100
LABOR TURNOVER!
Manufacturing establishments:
Unadjusted for seasonal variation:
Accession rate, total
mo. rate per 100 employ ees._
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
WORK STOPPAGES
Industrial disputes:
Number of stoppages:
Beginning in month or year..
number--
3.99
3.84
4.16
4.10
3.19
2.99
4.51
4.97
4.85
5.61
4.03
3.01
5.43
3.47
4.49
3.09
3.82
3.76
4.35
4.20
4.57
4.51
3.40
3.19
4.99
5.36
5.37
6.42
4.35
3.23
5.92
3.75
4.89
3.34
4.13
4.06
4.27
4.16
4.48
4.69
3.31
3.16
4.78
5.23
5.19
6.27
4.23
3.21
5.72
3.68
4.80
3.27
4.09
4.00
4.27
4.16
4.49
4.77
3.32
3.16
4.81
5.25
5.22
6.30
4.25
3.21
5.75
3.69
4.80
3.29
4.09
3.99
4.30
4.17
4.52
4.77
3.33
3.15
4.86
5.32
5.30
6.33
4.30
3.20
5.78
3.72
4.83
3.31
4.11
4.01
4.32
4.18
4.54
4.89
3.34
3.16
4.95
5.35
5.35
6.38
4.33
3.21
5.83
3.73
4.87
3.33
4.16
4.02
4.36
4.21
4.55
4.62
3.34
3.16
5.05
5.41
5.42
6.51
4.42
3.22
5.90
3.73
4.88
3.33
4.13
4.03
4.36
4.20
4.58
4.32
3.38
3.16
5.10
5.45
5.44
6.55
4.39
3.21
6.05
3.76
4.93
3.35
4.15
4.03
4.41
4.23
4.62
4.29
3.48
3.22
5.11
5.49
5.48
6.61
4.41
3.26
6.11
3.80
4.94
3.39
4.16
4.13
4.42
4.25
4.65
4.27
3.53
3.24
5.15
5.49
5.50
6.61
4.42
3.25
6.14
3.82
4.98
3.41
4.17
4.16
4.45
4.28
4.70
4.40
3.53
3.25
5.21
5.47
5.56
6.66
4.44
3.28
6.19
3.83
5.02
3.41
4.24
4.22
4.48
4.31
4.75
4.54
3.55
3.27
5.23
5.50
5.61
6.67
4.51
3.31
6.18
3.81
5.03
3.40
4.23
4.23
4.53
4.37
4.81
4.84
3.57
3.33
5.25
5.53
5.66
6.96
4.50
3.37
6.23
3.89
5.05
3.47
4.26
4.26
4.54
4.38
4.83
••4.88
3.56
3.33
5.25
'5.58
'5.69
7.03
4.52
3.39
'6.29
'3.90
'5.07
'3.48
'4.33
4.29
'4.55
4.39
'4.83
'5.04
3.57
'3.36
'5.26
'5.59
'5.70
7.08
'4.55
'3.40
'6.29
'3.90
'5.06
'3.48
'4.30
'4.29
4.57
4.43
4.87
5.21
3.53
3.35
5.27
5.58
5.76
7.07
4.48
3.41
6.34
3.91
5.10
3.48
4.31
4.29
4.22
5.21
6.75
4.41
5.43
3.47
3.82
3.76
4.54
5.90
7.25
4.81
5.92
3.75
4.13
4.06
4.46
5.76
7.18
4.72
5.75
3.67
4.08
3.99
4.47
5.71
7.18
4.73
5.77
3.68
4.08
3.99
4.49
5.82
7.16
4.75
5.82
3.71
4.11
4.01
4.51
5.89
7.27
4.78
5.87
3.73
4.18
4.04
4.54
5.92
7.33
4.82
5.90
3.74
4.14
4.06
4.57
5.97
7.30
4.86
6.05
3.78
4.18
4.08
4.60
6.01
7.32
4.88
6.04
3.79
4.16
4.10
4.63
6.08
7.32
4.90
6.12
3.82
4.18
4.15
4.68
6.10
7.41
4.93
6.17
3.84
4.26
4.22
4.68
6.11
7.46
4.96
6.17
3.84
4.22
4.22
4.73
6.19
7.46
5.00
6.22
3.87
4.24
4.25
4.75
'6.26
'7.46
5.04
'6.29
'3.88
'4.30
4.27
'4.77
'6.30
7.61
'5.07
'6.33
'3.89
'4.29
'4.28
4.77
6.27
7.55
5.04
6.36
3.90
4.30
4.29
158.6
107.4
163.1
163.7
156.0
167.3
155.0
148.6
163.3
172.7
107.0
183.2
175.4
171.5
182.5
168.1
161.5
176.0
169.1
107.1
178.5
173.7
167.7
176.8
164.8
159.8
172.8
169.4
106.8
178.1
173.7
168.6
177.6
164.9
159.4
172.5
170.6
107.0
180.7
173.4
169.7
179.3
166.4
160.4
173.5
172.2
107.2
182.8
175.9
171.0
181.1
167.5
163.1
175.5
173.1
106.7
184.0
177.4
172.2
182.4
168.3
161.5
175.8
174.6
107.3
186.2
176.7
173.3
186.2
170.5
163.0
177.1
175.2
107.2
187.2
177.3
174.5
186.3
170.5
162.6
177.8
176.7
107.4
188.9
177.7
176.0
188.8
171.9
163.8
179.4
178.2
107.7
189.4
179.2
176.9
190.7
172.9
167.1
182.2
178.6
107.3
190.2
180.3
177.6
190.5
172.4
165.1
182.6
179.6 ' 180. 8 '181.4
107.5 ' 108. 1 ' 108. 2
192.2 ' 193. 6 ' 194. 5
180.0 ' 180. 1 183.7
178.8 ' 179. 8 ' 180. 7
192.2 ' 194. 1 ' 194. 9
174.0 ' 174. 4 ' 174. 7
165.9 '168.3
168.1
184.6 r!85.4 ' 185. 6
182.0
108.1
194.8
182.8
181.7
196.3
175.1
168.3
185.8
7.55
10.18
8.30
11.01
7.96
10.67
7.99
10.70
8.06
10.76
8.23
10.93
8.44
11.08
8.57
11.24
8.58
11.29
8.59
11.35
8.60
11.37
8.62
11.42
8.62
11.42
8.63
11.43
8.63
11.44
8.63
11.52
2.25
2.21
2.43
2 32
5.707
2.43
2.38
2.60
2.45
154. 45
104. 57
163. 89
101.67
160. 11
101. 40
160. 47
101. 12
171. 72
102.03
134. 37
90.97
145. 93
90.53
138. 73
87.86
139. 00 "146. 00
87.59 -91. 54
154. 45
220. 90
249. 08
176. 40
190. 88
156. 01
218. 29
118. 33
174. 66
101. 04
140. 19
127. 46
163. 89
249. 57
265. 35
189. 51
205. 09
168. 78
234. 43
126. 75
188. 75
108. 22
150. 75
137. 23
158. 06
237. 48
247. 76
182. 66
197. 79
160. 98
224. 80
123. 28
184. 32
104. 64
149. 29
134. 40
159. 22
233. 78
259. 17
184. 00
199. 58
161. 41
226. 55
123. 25
183. 84
104. 95
148. 06
133. 67
110
80
74
4.2
3.2
4.8
2.3
1.5
3.7
2.0
4.2
1.4
2.1
6,074
2.42
2.39
2.63
2.46
2.29
2.25
2.39
2.31
~~6.~677~
5,200
163. 44
100. 76
165. 43
101. 62
166. 06
101. 57
167. 61
101. 89
169. 88
102. 65
170. 35
102. 37
172.65 r 172.90 ' 172.67
103.32 ' 103.35 ' 103.03
146. 91
91.48
147. 76
91.10
149.31
91.71
149. 81
91.63
151.02
91.81
152. 76
92.30
153. 12
92.02
153.72 ' 153.91 ' 153.73 153. 00
91.99 ' 92. 00 ' 91. 72 90.91
160. 38
247. 51
262. 73
185. 25
199. 87
164. 26
226. 00
124. 99
185. 96
106.25
149. 19
134. 74
163. 71
250. 65
262. 07
188. 81
203. 49
168. 05
231. 45
127. 19
187. 98
109. 22
151. 84
137. 08
164. 89
248. 72
270. 05
188. 55
202. 64
169. 60
235. 41
128. 69
188. 86
110. 89
150. 33
138. 23
166.90
248.64
274.81
191.35
205.88
172.22
241.40
130.10
190.79
111.89
151.06
138.23
168. 43
255.25
278.99
196. 58
212.22
175. 52
243. 79
128. 06
190.68
109.50
150.59
139. 18
168. 69
259. 46
278. 25
195.51
211.45
175. 03
244. 99
128. 73
193. 22
109. 46
151. 79
139. 78
169. 42
262. 73
270. 44
197. 69
213.72
176. 67
245. 12
128. 69
194. 27
109. 46
155. 18
142. 21
170. 82
264.69
275.62
204. 00
222. 73
179.20
246.58
130.30
197.18
111.18
153. 97
142.13
169.92
266.48
270.00
200. 30
216.81
178. 48
244.84
129.93
195.44
110.69
155.49
142.71
' 170.64
' 268.58
' 272.66
'201.10
'218.16
178. 42
' 248.46
' 130.26
' 195.20
' 110.66
' 158.91
143. 72
' 170.53
'266.70
269. 89
' 202.40
219. 92
' 178.82
' 249.08
129. 87
' 194.81
' 110.32
' 156.52
' 142.86
74
74
81
84
83
83
83
87
88
87
93
P94
3.2
1.3
4.2
1.0
2.5
3.7
1.6
4.0
1.1
2.1
3.9
2.0
3.9
1.3
1.8
4.5
2.5
3.6
1.3
1.5
4.5
2.6
4.4
1.5
2.0
5.1
3.1
4.6
2.4
1.3
4.6
3.0
4.3
2.0
1.4
3.7
2.4
4.0
1.6
1.6
2.8
1.7
3.5
1.2
1.7
2.2
1.3
3.4
.9
1.9
3.8
2.1
3.7
1.3
1.6
'3.5
'2.1
'3.1
'1.2
1.1
4.2
2.6
3.5
1.5
1.1
3.4
1.5
4.7
1.1
2.7
3.9
1.7
4.5
1.2
2.6
3.5
1.8
4.1
1.3
2.6
3.5
1.8
3.9
1.3
2.1
4.2
2.4
4.0
1.5
1.5
4.0
2.4
3.6
1.5
1.5
3.7
2.3
3.5
1.3
1.7
3.6
2.2
3.7
1.5
1.7
3.7
2.3
4.0
1.6
1.6
3.8
2.4
3.9
1.5
1.3
4.2
2.4
3.5
1.5
1.2
'4.2
'2.7
'3.5
'1.6
1.1
4.4
2.9
3.9
1.7
1.2
370
570
517
741
619
919
648
990
626
1,039
455
913
363
667
449
688
332
628
278
428
288
474
339
531
161. 19 162. 36
"101.06 101. 10
Workers involved in stoppages:
130
Beginning in month or year
thous.._
1,800
90
242
2,778
In effect during month
_ __
do
221
412
171
4,930
Days idle during month or year
do_
1,770 2,517
47, 991 35, 666
' Revised.
v Preliminary.
J See corresponding note, p. S-14.
f Production and
nonsupervisory workers.
® The indexes exclude effects of changes in the proportion of
workers in high-wage and low-wage industries, and the manufacturing index also excludes
effects of fluctuations in overtime premiums.
§ For line-haul roads only.
A Earnings
in 1967 dollars reflect changes in purchasing power since 1967 by dividing by Consumer
Price Index. Effective Feb. 1976 SURVEY, data revised (back to 1967) in accordance with
the new seasonal adjustment methods for the CPI. tfWages as of May 1, 1976: Common,
$8.63; skilled, $11.54.
2 76
2 69
2.97
2.76
2.63
2 56
2.82
2.65
170.41
272. 16
276. 38
197. 46
213. 84
175. 95
249. 16
131. 38
196. 86
112. 06
156. 88
142. 86
143
74
54
141
63
154
183
292
210
180
114
100
179
200
310
415
565
397
1,398
726
1,120
3,947
2,763 2,084
4,416
4,624
5,799
0 See "O" note, bottom of p. S-14.
« See "O," bottom of p. S-14.
t Revisions for
1972-74 appear in the Sept. 1975 SURVEY. Scattered revisions for earlier years are available.
*New series. USD A Quarterly Agricultural Labor Survey. Data beginning 1974 are
for the week containing the 12th day of the quarter month and cover field and livestock
workers, machinery operators, packing-house, maintenance, etc., agricultural workers, no
comparable data prior to 1974 are available.
SUKVEY OF CURRENT BUSINESS
May 1976
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1975
1975
Annual
S-17
Mar.
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
Apr.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
UNEMPLOYMENT INSURANCE
Unemployment insurance programs:
Insured unemployment, all programs, average
weekly § 9
.
thous
State programs:
Initial claims
_ _ do
Insured unemployment, avg. weekly do _
Percent of covered employment: A
Unadjusted
_.
Beneficiaries, average weekly
Benefits paid §
thous
mil $
4,917
5,886
5,647
5,202
4,892
4 979
18, 880 p 24, 764
2,260 P 3, 967
2 158
5 091
2 041
4,775
1,749
4,281
1 832
3 878
2 202 "1 570 pi 520 p\ 677
2 919
3 861 3 422 3 061
2,568
3.5
6.0
6.4
7.7
7.2
6. 2
6. 5
1,874
p 3, 356
4,553
4,377
3,837
5, 974. 9 Pl2,052.6 1 2906 1 301 2 1 145.1
Federal employees, insured unemployment,
average weekly.
_
thous
Veterans' program (UCX):
Initial claims _
do
Insured unemployment, avg. weekly.. do.. .
Beneficiaries, average weekly, _ _ _ _ _ d o
Benefits paid
mil. $
Railroad program:
Applications
_ _
thous
Insured unemployment, avg. weekly _ _ do _
Benefits paid
,.
mil. $
4 576
4 238
4 039
4 461
4 962 2>4,721 p 4 366
p 1 620 P 2324
3 046
3 410
2 327 P ! 579
3 898 ?3 722 2>3 408
4 120
4.6
5.1
4.4
5.8
5.8
4.6
6. 5
6. 3
5. 8
6. 1
p
2,349
3,208
j>2
952
p
2,
489
p
2,
306
3,437
984 0 1 086 9 *>879 6 p 763. 8 p 750. 4 p 671.8
5.1
5.9
?5.2
?5.6
*>2,685 ' P 3, 207 P 3, 203
^886 8 p 1 021 4 *>949 0
40
P 44
47
43
40
40
43
43
44
44
48
48
53
p 52
^51
377
71
65
249.2
p 412
p 100
p 101
?386 2
29
96
102
30 1
30
94
101
31 5
28
92
95
30 0
34
91
95
29 0
41
98
94
32 3
?36
101
"103
?32 7
p 41
105
p 99
p 33 0
»39
107
p 101
p 35 7
?30
109
p 106
p 32 7
J>38
113
pl!3
J>40 2
?34
117
Pl20
p 40 9
?30
pill
P116
?35 9
^104
69
10
22.2
153
27
89 5
9
27
51
6
27
55
4
20
4 2
18
18
39
28
23
39
13
24
49
15
35
16 1
10
31
12 8
10
32
10 3
9
37
14 0
13
45
17 4
6
39
15 7
4
34
17 3
FINANCE
BANKING
)pen market paper .outstanding, end of period:
Bankers 'acceptances. _ _ _
_
mil. $
Commercial and financial co. paper, total
do
Financial companies .
do
Dealer placed...
.
do
Directly placed
do
Nonfmancial companies
do
Lgricultural 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 t o cooperatives
_ _ _ _ _ do
Other loans and discounts
do
lank 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 SMSA's f
do
226 other SMSA's
do
18, 484
49, 144
36, 450
4,611
31, 839
12, 694
18, 727
47, 739
37, 564
6, 239
31, 325
10, 175
18, 730
50,827
36,563
5,342
31,221
14, 264
18, 727
51,623
37,605
5,461
32,144
14,018
27, 384
31, 741 ' 28, 769
13, 864
3,575
9,925
16, 564 14, 641
3,979
3,741
11,198 '10,386
18, 108
51,317
38,710
5,889
32,821
12, 607
17, 740
48,765
36,719
5,604
31,115
12, 045
16, 930
49,352
37,281
6,018
31,263
12, 075
16, 456
49,810
37,817
5,645
32,172
11,993
16, 790
48,274
36,087
5,574
30,513
12, 187
17, 304
50, 437
38, 711
6,360
32, 351
11, 726
17, 875
49, 557
38, 437
6, 389
32, 048
11,120
18, 727
47, 739
37, 564
6,239
31,325
10, 175
18, 677
48, 910
37, 429
6,072
31,357
11,481
29, 214
29, 575
29, 951 30, 421
30, 837
31, 072
31, 354
31, 265
31, 741
32, 265
32, 751
33, 400
14,917
3,650
10, 646
15, 180
3,499
10, 895
15, 437
3,371
11, 143
15, 851
3,738
11, 248
16, 044
3,847
11,181
16, 247
4,087
10, 200
16, 380
4,041
10, 845
16, 564
3,979
11, 198
16, 746
4,356
11, 162
16, 930
4,546
11, 274
17,264
4,656
11,480
23,269.4
10,628.8
12,640.5
5, 125. 1
7,515.4
23,181.9 24,137.1 24,067.7
10,585.0 11,801.5 11,529.9
12,596.9 12,336.6 12,537.8
5,153.0 4,921.3 4, 937. 3
7,443.8 7,414.3 7,600.5
22,180.1 22,705.7 22,738.6 22,503.5 22,827.9
10, 241. 1 10, 810. 3 10, 826. 1 11,612.2 10,709.5
11,939.0 11,895.4 11,912.5 11,891.3 12,118.3
4, 899. 9 4, 770. 6 4, 852. 6 4,756.7 4,841.1
7,039.0 7,124.9 7,059.9 7,134.6 7,277.2
'ederal Reserve banks, condition, end of period:
Assets, total?
mil $
113,611
123, 997
Reserve bank credit outstanding, total 9 _ _do
Time loans
do
U.S. Government securities
do
Gold certificate account
do
89, 013
299
80, 501
11,652
99, 149
211
87, 934
11,599
113,611
123, 997
30, 649
25, 843
72 259
34, 780
26, 052
78, 770
32, 525
27, 139
70,871
41,234
32, 028
71, 167
35,002
26,445
72, 280
36, 941 i 34, 989
36, 602 i 34, 727
!339
i 262
1703
i1 127
1
-333
148
34, 779
34, 513
266
106
153
35, 134
35, 014
120
110
17
Liabilities, total 9
___
_
Deposits, total
Member-bank reserve balances
Federal Reserve notes in circulation
do
do
do ..
do
ill member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total
mil $
Required
do
Excess
___
do
Borro wines from Federal Reserve banks.. .do
Free reserves
_
do
.arge commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo •
Deposits:
Demand, adjustedd*
mil. $
15, 654
3, 520
11, 247
1
1
111,291 122,628 116,755 115,687 112, 587
89,465
60
81, 418
11, 620
98,583
1,539
87, 846
11,620
93,780
24
85, 622
11, 620
92, 929
561
84, 749
11, 620
89, 562
177
81, 883
11, 620
111,291 122,628 116,755 115,687 112, 587
23,565.1 23,845.0 ''25,524.9 26, 474. 5
10,970.9 11,517.7 12,212.0 12, 629. 6
12,594.2 12,327.3 '13,312.9 13, 844. 9
4,932.5 4,789.0 5, 321. 1 5, 556. 1
7,661.8 7,538.3 '7,991.8 8, 288. 8
113,672 120,344 119,844 118,432
123, 997 123,983 122,130 ' 124,018 P 126,377
90, 516
231
82, 546
11, 598
99, 149
211
87, 934
11,599
95,208
283
86, 998
11, 599
96, 097
73
87, 184
11,599
95, 051
46
85, 137
11,599
99,504
66
89, 971
11, 599
98,419 '99,361 101, 158
54
52
30
88, 990 89, 753 91, 814
11,599 11, 599 11, 599
113,672 120,344 119,844 118,432 123,997 123,983 122,130
32, 823
25, 976
73, 626
29, 470
25, 740
74, 207
29, 951
26, 484
74, 653
34,928
25,913
74, 599
35, 550
26, 140
74, 891
32, 125
25, 971
76, 683
34,492 34, 976
34,493 34, 428
-1
548
60
271
-52
278
34, 655
34, 687
-32
261
276
34, 482
34, 265
217
211
44
34,646
34,447
199
396
-136
34, 567
34,411
156
191
30
34, 571
34, 281
290
61
257
r
124,018 p 126,377
34, 780
26, 052
78, 770
38,326
27,306
76, 516
36,172 ' 36,395 37, 862
24,585 '28,150 26, 989
76, 648 77, 686 78,631
34, 989
34, 727
262
127
148
35,575
35,366
209
79
139
33,953 ' 33,967 p 34, 072
33,939 ' 33,531 33, 957
^436
115
14
58
44
76
'386
81
-51
109,981
112, 124 104, 863 102, 619
101,759 107,114 103,863 102,593 104,071 104, 146 104,320 112,124 103,742 101,775
106, 097 104, 618
185,215
129,449
7,039
1,471
31, 807
184, 174 162, 031 164, 368
134, 245 117, 808 115, 788
6,714
6,967
6,418
1,386
4,905
1,281
29, 322 22,434 23, 328
161,170 169,097 158, 966 165,445 167, 744 159, 299 167,015 184,174 159,545 157,115
117,375 121,565 115, 875 120,411 119, 800 116, 182 121,317 132,245 116,670 115,133
6,220
6,061
5, 970
6,198
6,496
5,808
6,967
6,413 5,947
5,860
1,995
1,898
1,425
859
1,243
1,386
1,070
1,247 2,425
1,330
22, 513 24, 694 23, 360 24,635 25, 790 22, 104 24,163 29, 322 22,262 21,251
171, 058 162, 638
122, 733 118, 064
6,172 6,003
1,049 2, 442
26,516 21,991
TIme,total9
.
do
Individuals, partnerships, and corp.:
Savings
do
Other time___
.
do
228,045
227, 729 226, 136 223, 520 225,929 223,211 222, 475 222,765 225, 264 224, 960 225,877 227,729 225,352 223, 215
225, 981 221,616
58, 485
122,201
68, 445 62, 238
115,961 119,469
62, 396 64, 644 65, 483 65, 392 65,246 65, 590 65, 928 67,550 68, 445 72,459 75, 269
113,639 113,594 112,922 113,218 114,625 116, 184 115, 442 116,064 115,961 111,153 107,629
78, 319 79, 349
108, 296 104, 228
Loans (adjusted), totald"
do
Commercial and industrial
. do
For purchasing or carrying securities., "do
To nonbank financial institutions
do
Real estate loans.
do
Other loans
,
do
304,318
131,875
7,713
33, 076
60, 442
90, 388
285, 499 288, 473 285,524 283,098 284,614
120, 661 125, 960 125,349 122.801 122,326
5,597
8,933
6,350
6,816
7,326
27, 180 29, 904 29, 549 29, 409 29, 978
59, 530 59, 474 59, 385 59, 273 59, 209
87, 404 86, 254 81,851 82, 124 83, 864
Demand, total 9
Individuals, partnerships, and corp
State and local governments. _
.
U.S. Government... Domestic commercial banks
Investments, total,.
U.S. Government securities, total
Notes and bonds
Other securities _
do
do.__
do
do
do
do
do
do
do
86, 825 100, 345 88, 743 88, 861 89, 863
23, 931
40, 178 27, 855 28, 524 30, 163
19,412
26, 464 23, Oil 23, 525 24, 367
62. 894
60. 167 60. 888 60. 337 59. 700
„ QRe71?e?' . ,P Preliminary.
1 Average for Dec.
§ Insured unemployment (all programs) data include claims filed under extended duration provisions of regular State laws;
amounts paid under these programs are excluded from State benefits paid data.
AInsured
unemployment as % of average covered employment in a 12-month period.
9 Includes
data not shown separately.
d^For demand deposits, the term "adjusted" denotes demand
deposits other than domestic commercial bank and U.S. Government, less cash items in
207-050 O - 76 - S3
"
92,200
32, 021
24, 935
60. 179
280, 762 279,313 281, 768 277, 957 282,104 285,499 275,908 275,242 277, 356 275, 499
120, 611 118,946 119, 751 118, 190 119,300 120,661 117,000 116,201 114,612 113,365
8,468 8,682
7,389
6,200
6,842
6,530
7,040
6,605 8,206
8,933
26, 488 25, 779
29, 157 29,164 29, 022 27, 312 27,310 27, 180 25,995 26,029
60, 530 60, 727
59, 059 58,967 59, 282 59, 502 59,482 59, 530 59,749 59,722
84, 794 84, 092
80, 820 82,680 84, 254 82, 267 84,525 87,404 84,474 82,923
92, 547
32, 160
24, 764
fiO. 387
94,303 95, 624
34,288 35, 316
25,239 25, 243
60 01 5 60 ans
95,413
35, 010
25, 988
60 405
98,269
37,859
26,580
60 410
100,345
40, 178
26, 464
fin 167
99,769
40,456
27,422
59.313
99,239
40, 083
27, 643
59.156
100, 563
41, 808
28, 778
58. 755
101, 076
41, 388
29, 402
59, 688
process of collection; for loans, exclusive of loans to and Federal funds transactions^ with
domestic commercial banks and after deduction of valuation reserves (individual loan items
are shown gross; i.e., before deduction of valuation reserves).
OTotal SMSA's include
some cities and counties not designated as SMSA's.
U Includes Boston, Philadelphia,
Chicago, Detroit, San Francisco-Oakland, and Los Angeles-Long Beach.
SURVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
1975
1975
Mar.
Annual
May 1976
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FINANCE—Continued
BANKING— Continued
Commercial bank credit (last Wed. of mo., except
for June 30 and Dec. 31 call dates) , seas, adj.:f
Total loans and investments©
bil. $
LoansO
_. _ . . do
U.S. Government securities. _
do
Other securities.. _
do
Money and interest rates: §
Bank rates on short-term business loans:
In 35 centers
percent per annum
New York City
do
7 other northeast centers
do
8 north central centers
7 southeast centers
8 southwest centers.
4 west coast centers
do
do
do
do
5 687. 1
s 498. 2
48.8
140.1
717.2
494.7
77.9
144.6
11.28
11.12
11.83
8.65
8.37
8.91
8.16
7.88
8.37
8.22
8 00
8 43
8.29
7 99
8 53
7.54
7.14
7.93
11.27
11.01
11.07
11.15
8.54
9.01
8.75
8.86
8.00
8.70
8.34
8 33
8.12
8 41
8.28
8 45
8.15
8 70
8.37
8 67
7.50
7.86
7.56
7.77
Discount rate (N.Y.F.R. Bank), end of year or
month
percent--
697.0
498.3
58.5
140.2
699.1
495.0
64.0
140.1
702.0
492.8
68.2
141.0
705 0
489.9
72.4
142 7
706 4
489 6
73.4
143 4
710 4
490 7
75.6
144 1
711.6
490.4
77.1
144 1
715.0
494.1
75.1
145.8
721 3
498.0
76.3
147 0
717.2
494.7
77.9
144.6
720.5
495.4
80.2
144.9
725.2
496.2
84.4
144.6
730.5
498.9
88.3
143 3
733.5
498.5
91.3
143.7
5.50
7.75
6.00
6.25
6.25
6.00
6.00
6.00
6.00
6.00
6.00
6.00
6.00
5.00
5.50
5.50
8.82
18.14
8.84
8.48
8.25
7.92
7.71
7.62
7 59
7 62
7.62
7.62
7.67
7.58
7.54
1
9.01
19.21
9.06
9.28
8.96
9.11
8.90
9.04
8.96
9.05
8.89
9.08
8.89
9.13
8.94
9.13
9.01
9.17
9.01
9.30
9.01
9.28
8.99
9.27
8.93
9.23
29.89
29.84
28.60
2 10. 98
26.29
26.32
26.15
28.02
6.22
6.06
6.00
8.09
6.15
6.15
5.97
7.66
5.76
5.82
5.74
7.42
5.70
5.79
5.53
7.15
6.40
6.44
6.01
7.30
6.74
6.70
6.39
7.84
6.83
6.86
6.53
8.06
6.28
6.48
6.43
8.22
5.79
5.91
5.79
7.76
5.72
5.97
5.86
7.64
5.08
5.27
5.15
7.55
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent. . 2 27. 886
3-5 year issues
do
7.81
25.838
2
7 55
5.544
7.00
5.694
7 76
5.315
7 49
5.193
7 26
6.164
7 72
6.463
8 12
6.383
8 22
6.081
7 80
5.468
7 51
5.504
7 50
166, 170
42, 431
5,113
4,854
166 833
46, 530
3 367
4 333
12, 261
3,568
253
321
13, 592
3,747
285
341
13, 722
3,862
307
395
14 411
4 285
314
442
14 994
4 495
320
446
14, 675
4,166
301
416
14 447
4 153
313
420
15 029
4 430
305
406
14 085
3 756
298
343
17 098
4,228
19 567
4 214
1 298
323
1 507
361
1 464
335
1 566
328
1 669
357
1 664
345
1 758
358
1 741
362
do
do
do
do
156, 346
42, 496
4,287
3 908
163 113
45 110
3,986
4 434
13 595
3,988
350
364
13 765
3,852
342
385
13 442
3 733
349
367
13 538
3 810
333
377
13 858
3 860
357
376
13 329
3,709
330
360
13 491
3 846
329
378
do
do
15, 653
3,685
18, 769
4 128
1,559
375
1,486
355
1,469
365
1,493
338
1,596
333
1,492
317
12 735
3,488
279
343
13, 168
3,477
271
320
12 993
3,555
274
343
13 620
3,753
270
379
14 322
4,124
308
395
do
do
1,514
338
1,554
347
1,517
340
1,606
327
do
. _do. - .
do
do.
13 217
3,812
325
364
13 409
3,746
331
377
13 359
3,718
331
363
do.
do
1,517
339
1,512
337
1, 508
364
Federal intermediate credit bank loans
do
Home mortgage rates (conventional 1st mortgages):
New home purchase (U.S. avg.)
percent
Existing home purchase (U.S. avg.)
do
Open market rates, New York City:
Bankers' acceptances (prime, 90 days)
do
Commercial paper (prime, 4-6 months)__do
Finance co. paper placed directly, 3-6 mo.do
Stock Exchange call loans, going rate
do
1
iS. 92
9.02
1
8.93
9.12
8.94
9.05
4.99
5.23
5.09
7.40
5.18
5.37
5.27
7.38
5.03
5.23
5.13
7.38
4.961
7 18
4.852
7.18
5.047
7.25
4.878
6.99
17, 246
3,926
240
332
13 907
3 601
202
304
13, 116
3,739
222
340
16, 458
4,914
296
428
1 642
304
2,338
446
1 948
408
1,559
371
1,874
398
14 359
3 996
353
404
13 725
3 562
295
356
14, 628
3,776
337
393
14, 980
3,911
311
342
13, 768
3,539
318
349
15, 930
4,316
362
415
1,603
325
1,705
354
1,591
316
1,761
384
1,876
380
1,722
370
2,020
434
14, 427
4,032
293
363
14 555
4,235
305
388
14 832
4 189
279
392
14, 877
4,218
330
409
15, 295
4,405
291
418
16, 205
4,511
15,824
4,378
282
16, 318
4,537
311
1,618
346
1,689
353
1,737
350
1,698
357
1,752
348
1,719
412
1,840
397
1,931
2,046
13 412
3,751
321
368
13 436
3,741
357
357
13, 790
3,818
328
367
13, 795
3,849
333
369
14 002
3,800
348
398
14, 073
3,814
311
371
14, 403
3,865
364
395
14, 910
4,023
342
353
14,656
3,746
346
372
14,805
3,883
307
398
1,504
340
1,548
331
1,576
341
1,631
336
1,619
340
1,723
346
1,768
399
1,733
374
1,798
1,822
r
CONSUMER CREDIT*
(Short- and Intermediate-term)
Installment credit extended and liquidated:
Unadjusted:
Extended, total 9 . . .
mil. $
Automobile paper
do
Mobile home
do
Home improvement
do
Revolving:
Bank credit card
do
Bank check credit
do
Liquidated, total 9
Automobile paper _
Mobile home
Home improvement
Revolving:
Bank credit card
Bank check credit
Seasonally adjusted:
Extended, total 9
Automobile paper
Mobile home.. ._
Home improvement- - ._
Revolving:
Bank credit card-.
Bank check credit
Liquidated, total 9
Automobile paper
Mobile home
Home improvement
Revolving:
Bank credit card
Bank check credit
do
do
do
do. _
.
..
Total installment credit outstanding, end of year or
month 9
mil $
By credit type:
Automobile
do
Mobile home
do
Home improvement
do
Revolving:
Bank credit card
do
Bank check credit
do
By holder:
Commercial banks
Finance companies
Credit unions
.
Retailers
Others
"
r
Revised.
v Preliminary.
1
Average for year.
2 Daily average,
158 101
52 209
12 542
8 398
8 281
2 797
288
459
AO7
000
°.7C
161 819 153 304 153 131 153 411 154 283 155 419 156 765 157 720 158 390 159 200 161 819 160, 745 160, 094 160, 621
53 629 50 954 50 849 50 978 51 453 52 088 52 545 53 852 53 286 53 479 53, 629 53, 318 53,519 54, 117
11 924 12 266 12 208 12 166 12 147 12 109 12 081 12 065 12 017 12, 021 11, 924 11,815 11,719 11, 653
8,254 8,267
8,301 8,263
8,329
8,372
8 272
8 374 8,361
8 301 8 153 8 108 8 136 8 202
9 078
2 883
7 926
2 774
7 947
2 781
7 942
2 751
8 015
2 741
8 088
2 765
8 259
2 793
8 414
2 826
8 450
2 834
8 500
2 822
9,078
2,883
9,150
2,911
8,987
2,912
74 703
8,842
2,876
74, 868
73 345 73 687 74 232 74 701 75 024 75 286 75 174 75, 710 75, 342 75, 010 75,103
37 711 37 828 38 177 38 340 38 375 38 411 38 642 38, 932 38, 737 38, 660 38, 665
22 674 23, 186 23, 507 24, 043 24, 510 24, 706 24, 934 25, 354 25, 250 25, 492 26, 025
16, 238 16, 079 15, 963 16, 172 16, 232 16, 444 16, 860 18, 328 17, 771 17, 192 16, 987
3,841
3,740
3,645
3,495
3,560
3,543
3,579
3.509
3.540
3.443 3.503
O Adjusted to exclude interbank loans.
§ For bond yields, see p. S-21.
tBegmning
Jan. 1959, monthly data have been revised to reflect new seasonal factors and adjustment to
3 Beginning Jan. 1973, data reflect changes in
bench marks for the latest call date (June 30, 1973). Revisions are in the Nov. 1973 Federal
Reserve Bulletin.
9 Includes data for items not shown separately.
t Data have been
revised back to 1971, noninstallment credit will no longer be available on a monthly basis.
"Personal loans" and "other consumer goods paper" have been combined to form an all
m oiner securities."
s Beginning Aug. 28,1974, loans sold outright to banks' affil
other" category (not shown separately here). Earlier monthly data are available from tne
fleet a new definition of the group of affiliates included, and a somewhat different group cf
reporting banks; total loans were $500 million less than they would have been on the old basis.
Federal Reserve Board, Washington, D.C. 20551.
do
do
do
do
do
75 846
38 925
22, 116
17, 933
3.281
75 710
38 932
25 354
18, 328
3.495
73 407
37 910
22 227
16, 288
3.472
73 350
37 746
22, 415
16, 229
3.391
SUEVEY OF CUEEENT BUSINESS
May 1976
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1975
1975
Mar.
Annual
S-19
Apr.
May
June
July
1976
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Aug.
Sept.
23, 584
30, 634
-7,050
28, 615 19, 316 21, 745 25, 995 25, 634 20, 845 20, 431
29, 044 32, 425 29, 401 31, 792 30, 725 29, 833 29, 054
-429 -13, 109 -7, 656 -5, 797 -5,091 -8,987 -8, 623
Apr.
FINANCE—Continued
FEDERAL GOVERNMENT FINANCE
Budget receipts and outlays:
Receipts (net)
Outlays (net)
Budget surplus or deficit (— )
mil. $
do
do
Budget financing total
Borrowing from the public
Reduction in cash balances
1 264,932 1 280, 997 20, 134
1 268,392 1 324, 601 27, 986
i -3,460 1-43,604 -7, 852
i 3, 460
13,009
do
do
do
Gross amount of debt outstanding
Held by the public
do
. do
Budget receipts by source and outlays by agency:
Receipts (net) total
mil $
Individual income taxes (net)
do
Corporation income taxes (net)
do
Social insurance taxes and contributions
(net)
mil $
Other
do
31, 451 12, 793
29, 601 28, 186
1,850 -15,394
i 43, 604
7,852 -1,850
7,485
i 50, 853 11, 249
9,335
1-7,249 -3, 397
15, 394
8,556
6,838
31,817
30,296
1,521
20, 197
31, 249
11, 052
-1,521 -11,052
567
7,800
-2,088 3,252
7,050
429
7,189
8,463
-139 -8,034
13, 109
11, 743
1,366
5,091
5, 797
7,656
7,820
8,215
5,936
-2,
729
1,720 -2, 418
8,987
8,972
15
8,623
7,320
1,303
1
486,247 1 544, 131 520, 701 527, 744 539, 157 544, 131 549, 157 558, 637 564, 582 572, 930 577, 726 587, 553 595, 306 604, 778 611,391
i 346,053 1 396, 906 380, 298 387, 783 396, 339 396, 906 404, 707 411, 895 420, 358 432, 102 438, 037 446, 253 454, 072 463, 045 470, 365
31,817
13,123
9,578
20, 197
9,615
1,367
23, 584
10, 403
620
28, 615
13, 609
6,013
19, 316
10, 653
873
21, 745
10, 354
673
25, 995
11, 200
6,530
25, 634
15, 276
1,533
20, 845
7,778
781
20, 431
5,272
5,863
10, 588
2,661
6,431
2,685
6,128
3,087
9,713
2,849
6,280
2,712
5,206
' 2, 583
7,994
2,725
5,565
2,700
6,430
2,376
9,630
2,655
6,635
2,660
29, 601
1,029
6,989
28, 186
890
7,627
30,296
1,161
7,216
31, 249
1,038
7,103
30, 634
958
7,553
29, 044
1,201
6,877
32, 425
1,119
7,911
29, 401
637
7, 019
31, 792
1,404
7,458
30, 725
'1,372
' 7, 270
29, 833
1,309
6,792
29, 054
535
7,442
10, 130
4,459
287
1,505
9,680
2,802
301
1,462
9,916
4,576
185
1,407
10, 150
4,289
368
1,364
10, 152
2,885
310
1,449
10, 414
2,954
313
1,333
10, 574
4,756
312
1,515
10, 502
3,200
325
1,623
10, 890 '10,782
3,427
4,249
326
260
1,699
1,627
10, 760
3,309
291
1,690
11, 627
3,618
307
1,674
i 264,932 1280,997
i 118,952 1 122, 386
i 38, 620 1 40, 621
20, 134
4,134
6,579
i 86, 441
i 31, 549
6,870
2,552
8,126
2,168
268,392 1 324, 601
i 9, 725
i 9, 767
i 77, 625 i 85, 420
27, 986
829
7,300
9,728
2,921
315
1,402
i 76, 780
130,582
Outlays total 9
do
Agriculture Department
do
Defense Department, military
do. ._
Health, Education, and Welfare Department
mil. $..
Treasury Department
do
National Aeronautics and Space Adm
do
Veterans Administration
do
193,375 1112,411
i 35, 993 i 41, 177
i 3, 267
i 3, 252
113,337 i 16, 575
Receipts and expenditures (national income and
product accounts basis), qtrly. totals seas. adj.
at annual rates: f
Federal Government receipts, totalf
bil.$__
288.4
282.3
31, 451 12,793
16, 065 -1,630
5,093
1,174
250 1
283.6
293.3
302.1
v 312.2
135.2
45.0
25.4
96.4
f 137. 8
^48.6
'23.0
p 102. 8
Corporate profit tax accruals
do
Indirect business tax and nontax accruals-do
131.4
45.9
21.7
89.4
125.6
39.0
24.2
93.5
137.6
32.1
22.3
91.7
99.3
35 5
23 5
91 9
130.5
43.4
25.5
93.9
Federal Government expenditures, totalf._do
300.1
356.9
337.4
352 3
363.8
374.2
' 381. 3
111.7
77.4
123.2
84.0
119.4
81.4
119 2
82 1
124.2
84.9
129.9
87.4
'131.1
"87.0
117.7
43.9
21.0
149.2
54.3
23.4
139.2
50.1
22.4
150 5
52.8
22 6
152.5
56.8
23.4
154.5
57.4
25.3
' r160. 2
58.7
»26.1
7.0
National defense
do
Grants-in-aid to State and local govts
do
Subsidies less current surplus of government
enterprises
bil $
5.2
6.8
6.3
7.1
6.9
-.5
.0
.0
o
.0
.0
.0
-11.7
' -74. 6
-53.7
—102 2
-70.5
72.1
p-69. 1
289.08
14.58
135. 01
89.36
82.60
271.64
12.36
124.93
87.25
80.77
273. 52
12.37
126.26
87.64
81.13
275. 82
12.46
127. 85
87.88
81.34
278. 34
12.56
129. 84
88.04
81.46
279. 35
12.81
130. 30
88.16
81.57
280. 48
13.02
130. 66
88.33
81.71
281. 85
13.15
131. 52
88.45
81.80
284. 83
13.79
133. 24
88.66
81.98
286. 98
14.13
134. 50
88.85
82.16
289. 08
14.58
135. 01
89.36
82.60
293. 87
15.38
138.96
89.40
82.65
296. 48
16.14
140. 33
89.54
82.76
9.63
24.39
1.90
14.21
8.67
23.39
1.69
13.44
8.78
23.33
1.48
13.53
8.84
23.57
1.50
13.71
8.99
23.68
1.49
13.75
9.06
23.79
1.40
13.83
9.11
23.92
1.46
13.99
9.01
24.05
1.49
13.98
9.36
24.17
1.46
14.16
9.46
24.27
1.45
14.32
9.63
24.39
1.90
14.21
9.66
24.50
1.42
14.55
9.73
24.63
1.37
14.73
297,051 3 288,857
181, 276 185, 779
2 109,095 3 96, 349
6,680
6,729
24, 021
14, 937
8,516
568
23, 417
15, 923
6,928
566
24, 457
15, 384
8,410
663
23, 767
15, 707
7,476
584
22, 237 323,802
15, 396 14, 935
6,279 3 8, 264
562
603
23, 988
15, 573
7,907
508
24, 949
17, 242
7,121
586
23, 316
15, 461
7,273
582
35, 317
18, 788
16, 025
504
23, 258
14, 008
8,758
492
23, 014
15, 560
6,908
546
27, 983
18, 220
9,161
602
11, 599
93
458, 853
456, 638
11, 620
0
36,518
3,975
11, 620
0
67, 117
27, 714
11,620
0
20, 753
16, 562
11,620
15
38, 627
18, 359
11,618
0
27, 117
18, 152
11,599
0
54, 603
12, 916
11,599
8
10, 883
44, 954
11,599
44
16, 370
22, 266
11,599
6
12, 193
24, 409
11,599
0
22, 469
26, 895
11, 599
76
9,943
17, 769
11,599
3
28, 046
19, 472
11,599
6
1, 038. 3
70.9
960.9
68.7
78.5
5.4
80.6
5.9
79.4
6.6
81.9
5.1
82.8
6.1
82.8
5.3
84.4
6.3
81.5
6.2
82.3
5.0
72.6
5.7
76.4
6.2
75.6
5.6
79.4
thous. $.. 81, 651
do
501, 521
_ dol. per fine oz
4.708
132, 626
320, 556
4,419
23, 644
36, 172
4.332
11,173
28, 586
4.209
11, 954
31, 440
4.538
5,029
28, 368
4.489
37, 820
22, 148
4.704
9,465
25, 222
4.925
4,975
27, 980
4. 516
4,792
33, 014
4.329
5,161
18, 289
4.332
3,813
31,116
4.085
2,942
27, 967
4.063
4,338
18, 638
4.086
11, 541
27, 619
4.189
2,864
1,874
::::::::
LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U.S. life Insurance cos
Corporate securities
Mortgage loans total
Nonfarm
do
do
do
263. 35
11.96
118. 57
86.23
79.91
Real estate
Policy loans and premium notes
Cash
Other assets
do
do
do
do
8.33
22.86
2.00
13.39
bil. $..
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance):
Value, estimated total
mil $
Ordinary (Incl. mass-marketed ord.)..__do
Group
do
Industrial
do
2
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock , U.S. (end of period) . . .mil. $_ _ 11, 652
230
Net release from earmark§
__do_.
Exports
thous. $__ 228, 480
Imports
do
396, 679
Production: 1[
South Africa
Canada
Silver:
Exports
Imports
Price at New York
Production:
United States.
mil $
do
2,523
_thous. fine oz... 52, 583
3,132
2,912
36, 627
Revised.
v Preliminary.
i Data shown in 1 974 and 1975 annu al colurr ns are f or
fiscal years ending June 30 of the respective years; they incl ude revisi ons not (listributc;d
to months.
2 includes $907 mil. Vets group life ins.
3 Inclu des $1,694 mil. Vet 3 group li fe
r
4.356
1,084
6,716
3,482
1,926
3,193
3,010
tData rlave beeri revised back to
9 Inchides data for item s not shown sepai ately.
ins.
§ 0 r i ncrease iii earmarlced gold
1946 ( see table 3.2 in the Jan. 1976 SURVEYf for earli er data) .
there(-). IValuec1 at $33 per f me oun ce from Jan. 1972-Sept 1973; at $42.22
after.
2,132
SUEVEY OF CUKRENT BUSINESS
S-20
1975
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
Annual
May 1976
1975
Mar.
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FINANCE—Continued
MONETARY STATISTICS— Continued
bll. $_-
79.7
86.5
78.1
Money supply and related data (avg. of daily fig.) :©
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
277.8
64.9
212.8
397.0
5.6
289.6
71.0
218.5
436.0
3.7
Currency in circulation (end of period)
Adjusted for seasonal variation:
Total money supply
Currency outside banks
Demand deposits
Time deposits adjusted!
do
do
do
do
Turnover of demand deposits except interbank and
U.S. Qovt., annual rates, seas, adjusted:
Total (233 SMSA's)O ratio of debits to deposits
New York SMS A
do
Total 232 SMSA's (except N Y )
do
0 other leading SMSA'sd"
do
226 other SMSA's
do
120.1
290.9
81.9
123.6
65.8
78.4
79.8
81.2
81.5
81.9
81.7
82.3
84.5
281.4
68.8
212.6
429.4
3.8
286.5
69.1
217 A
430.4
4.0
282.9
70.0
212.9
433.2
4.1
290.3
71.2
219.1
435.5
4.2
292.1
71.9
220.3
436.9
3.4
290.0
72.1
217.8
438.4
2.7
291.7
71.9
219.9
440.5
3.9
292.4
72.5
219.9
444.4
3.4
284.1
69.4
214.7
42,8. 7
284.9
69.5
215.4
430.1
287.6
70.2
217.4
431.2
291.9
291.0
71.3
71.0
220.0 220.6
435.5 ' 437. 6
293.2
71.9
221.3
436.2
293.6
72.0
221. 6
438. 3
124.8
320.4
81.9
117.0
67.8
127.5
330.3
81.8
114.3
68.8
128.9
333.9
82.8
120.1
68.2
124.4
328.6
80.0
114.2
66.7
126.2
331.0
81.6
115.7
68.2
130.4
335.0
86.2
124.4
71.2
128.8
330.7
85.1
123.8
70.0
86.5
83.2
83.8
297.6
73.9
223.6
444.9
3.5
303.4 '•SOI. 3
75.0
73.7
228.4
227.6
448.4
451.3
4.2
3.8
293.2
74.0
219.2
453.7
4.6
295.6 * 303. 9
75.1
76.3
220.5
227.7
457.7
460.2
3.9
4.0
293.4
72.6
220.8
443.2
295.7
73.4
222.3
447.6
295.0
73.7
221.3
451.2
295.3
74.2
221.2
452.9
296.8
75.0
221.8
455.5
298.4 p 302. 3
75.7
76.7
225.6
222.8
456.4
459.1
134.0
364.0
83.5
118.7
69.8
134.0
360.8
84.9
119.5
71.5
131.0
351.8
84.7
118.4
71.6
132.4
366.0
82.9
115.4
70.3
140.9
375.4
89.6
128.0
74.6
144.6
377.5
92.5
131.4
77.2
3,177
2,420
85.5
PROFITS AND DIVIDENDS (QTRLY.)§
Manufacturing corps. (Fed. Trade Comm.):
Net profit after taxes, all industries
mil. $„.
Food and kindred products. _ _
do _
Textile mill products
do__ .
Lumber and wood products (except furniture)
mil. $
Paper and allied products
_do ._
Chemicals and allied products
do
58, 747
4,601
780
48, 990
5,154
433
9,285
920
-66
12, 455
1,315
42
13,208
1,561
195
14 042
1,358
262
2,287
7,175
1,801
6,570
374
1,487
429
1,721
451
1,707
547
1,655
14, 483
1,204
2,035
3,149
9,380
845
716
2,171
1,859
-11
265
732
2,197
274
204
504
2,523
447
113
425
2,801
135
134
510
2,837
2,523
490
694
713
626
5,648
2,940
6,344
2,515
1,417
537
1,641
637
1,553
578
1 733
763
1,127
1,957
8,524
1,019
1,737
7,587
18
-96
1,167
r
374
r
565
1,856
344
380
2,217
283
888
2 347
19, 467
19, 995
4,904
5,114
4,668
5,309
mil. $.. 3 40, 009
r 56, 151
5,497
4,477
5,979
5,755
4,542
2,364
2,845
4,609
4,768 ' 4, 418
3,492
31, 496 * 41, 740
4,436
3,154
4,164
4,401
3,650
1,818
1,774
3,052
3,240
3,447
2,570
' 7, 426
r 3, 458
644
253
751
••349
1,154
346
775
230
459
198
434
129
528
308
1,215
332
343
440
335
462
431
139
37, 842 ' 52, 624
10, 026 ' 18, 767
980
1,631
12, 831 r 15, 888
5,322
2,479
72
1,507
4,417
1,722
209
1,408
5,512
2,479
159
1,548
5,380
2,303
132
1,479
4,126
1,137
292
1,032
2,364
701
77
1,024
2,597
624
39
1,261
4,512
901
80
1,238
4,044 r 4> 244
1,115 '1,414
54
249
r
1,268
902
3,140
1,007
68
1,083
* 2, 643
4, 463
' 6, 791
38
317
637
59
563
163
281
413
409
186
362
643
254
269
1,071
0
113
323
32
296
289
518
928
450
957
55
500
269
231
761
213
15
449
22, 824
29, 041
29, 326
28, 973
2,038
2,832
2,263
3,094
2,532
3,801
3,001
2,699
3,434
1,691
2,690
1,377
2,112
2,427
2,276
2,623
2,338
2,066
2,154
1,828
2,389
936
2,638
1,488
i1 4, 836
3, 980
1856
5,540
5,164
4,320
844
5,327
4,503
824
5,666
4,847
819
5,984
5,140
844
6,266
5,446
820
6,197
5,365
832
6,251
5,399
852
6,455
5,448
1,007
6,527
5, 519
1,008
6,500
5,540
960
6,568
5,568
1,000
1,037
1411
515
475
505
520
1, 424
1,770
1,525
1,790
1,705
Revised.
p Preliminary.
1 End of year.
2 prior t o fourth quarter 1973, for petroleum refining only; data are not comparable with those for earlier periods.
3 Beginning
Jan. 19/4, does not include noncorporate bonds and notes formerly included.
0Effectlve
February 1976 SURVEY, data revised to reflect: Annual review of seasonal factors; regular
benchmark adjustment; effect of changes in check collection procedures (Regulation J);
ana adjustments to include new figures from internationally oriented banking institutions
Monthly revisions back to 1970 are in the Feb. 1976 Federal Reserve Bulletin.
l;At all commercial banks.
520
1.790
555
1,710
515
1,500
470
1,455
2
Petroleum and coal products
do
Stone, clay, and glass products
_do_ _.
Primary nonferrous metal
.
do
Primary iron and steel
__.do
Fabricated metal products (except ordnance,
machinery, and transport, equip.) _ mil. $
Machinery (except electrical)
do
Elec. machinery, equip., and supplies
do
Transportation equipment (except motor
vehicles, etc.)
mil. $
Motor vehicles and equipment
do
All other manufacturing industries
do __.
Dividends paid (cash) , all industries
do
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds, total
By type of security:
Bonds and notes, Corporate
Common stock
Preferred stock
do
... _ _ _ d o
...
By type of issuer:
Corporate, total 9
Manufacturing
Extractive (mining)
Public utility
Transportation
Communication
_
Financial and real estate
Noncorporate, total 9
U.S. Government
State and municipal
do .
.
mil. $
do
do
do....
_
do . . .
do
do
_ _
_
.__
do
__do
_ do
State and municipal issues (Bond Buyer) :
Long-term
Short-term
4,000
2,254
do
do
1,014
3,934
6,850
r
SECURITY MARKETS
Stock Market Customer Financing
Margin credit at brokers and banks, end of month,
total
mil. $
At brokers..
do
At banks - ...
do
Other security credit at banks
do
Free credit balances at brokers:
Margin accounts
do
Cash accounts
_ _
do
r
1
545
655
490
475
1.495
1.470
1 . 525
1. 975
©Total SMSA's include some cities and counties not designated as SMSA's.
concludes Boston, Philadelphia Chicago, Detroit, San Francisco-Oakland and Los
Angeles-Long Beach.
§ Beginning fourth quarter 1973, because of changes in method of
consolidation (to minimize the effect of foreign operations of multinational enterprises), data
are not comparable with those for earlier periods. The effect of the change can be assessed by
comparing the data as originally published for the fourth quarter 1973 (June 1974 SURVEY)
with the revised data.
9 Includes data not shown separately.
SUEVEY OF CUEEENT BUSINESS
May 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
Inthe 1973 edition of BUSINESS STATISTICS
1974
1975
1975
Annual
S-21
Apr.
Mar.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FINANCE—Continued
SECURITY MARKETS— Continued
Bonds
Prices:
Standard & Poor's Corporation:
High grade corporate:
Composited1
dol. per $100 bond
Domestic municipal (15 bonds). _.
do
58.8
76.1
56.2
68.9
56.2
70.9
55.8
69.4
56 6
69 6
56 7
69.8
56 6
68 5
55 6
68.3
55 8
66 0
56 0
66 0
56 3
66 2
56 1
67 4
57.45
57.44
59.33
57.05
57.40
58.33
58.09
56.84
55.23
55.23
55.77
56.03
Sales:
Total, excl. U.S. Government bonds (SEC):
All registered exchanges:
Market value
mil. $.. 6,456.77 r 9,345.90 728. 19
Face value
do
8,120.18 '10,706.85 875. 22
790. 03
891. 57
753. 75
892. 55
810. 14
919. 28
808 39
938 49
634.83
709. 89
613 63 962 53 757 15 r 890 01
685 94 1 014 65 834. 21 r 999 20
U.S. Treasury bonds, taxable^
do
New York Stock Exchange:
Market value
Face value
57 1
68 8
57 3
69 2
58 2
71 3
55.75 r 57. 86
58.23
59.33
424. 66
57 0
69 7
(i)
6, 193. 81 9,070.20
do
do . 7, 740. 56 10,302.08
706. 78
840. 85
768. 72
858. 08
728. 55
855 32
783. 46
883. 08
784. 10
904 23
621. 81
690 36
600 41
665 98
934 93
982 14
741. 19
812 29
856 23
949 84
New York Stock Exchange, exclusive of some
stopped sales, face value, total
mil. $__ 4, 052. 12 5, 178. 34
454.22
473. 81
449. 34
487. 41
478. 39
343. 37
340. 74
416. 62
341. 97
419.45
570. 68
504. 74
491.60
9.28
9.49
9.55
9.43
9.51
9.33
9.23
9.18
9.04
8
8
9
9
8 40
Yields:
Domestic corporate (Moody's)
By rating:
Aaa
Aa
A._ .
Baa
percent_.
8.98
9.46
do
do
do
do
8.57
8.67
9.16
9.50
8.83
8 97
9.65
10.39
do
do
do
8.78
9.27
8.98
9.25
9.88
9.39
9 05
9 67
9 25
9 30
9 88
9 39
9 37
9 93
9 49
9 29
9 81
q 40
9 26
9 81
9 37
9 29
9 93
9 41
9
OK
9
Domestic municipal: 1
Bond Buyer (20 bonds *
Standard & Poor's Corp. (15 bonds)
do
do
6.26
6.09
7.08
6.89
6 93
6.61
6 95
6.83
7 09
6.81
6 96
6.' 76
7 09
6.94
U.S. Treasury bonds, taxableO
do
6.99
6.98
6.73
7.03
6.99
6.86
10.63
11.82
4.83
4 27
8.09
13.25
10.52
11.48
4.96
10.49
11.43
4.96
10.42
11.34
4.96
8.50
13.56
8.50
13.56
By group:
Industrials
Public utilities
Railroads
_
8
8
9
10
67
80
33
29
8
q
9
10
95
02
63
34
9.45
9.44
9.45
8 79
8 QQ
in 37
8 78
8 Q7
9 67
10 33
10 35
49
9 32
9 Q4
9 4fl
9 27
9 83
9 36
9 26
9 07
9 37
9 16
9 689
9 3
7 18
7.02
7 A7
7.23
7 3fi
7.22
7 39
7.21
7 29
7.06
6.89
7.06
7.29
7.29
7.21
10.47
11.51
4.97
4. 14
8.50
13.56
10.47
11.49
4.97
4. 14
8.50
13.56
0)
8.50
13.56
10.49
11.52
4.96
4.42
8.50
13.56
8.58
8.50
8
9
9
10
90
04
79
46
8
8
9
10
77
94
67
40
8
8
9
10
84
94
63
33
8
9
9
10
95
03
70
35
9.55
QC
8
9
9
1 fi
74
1O 38
9.51
8
9
Ofl
flR
Q 74
52
^6
42
99
9 26
9 83
9 12
9 50
9 25
9 10
9 43
9 16
8 98
9 27
9 05
6 85
6.80
6 98
6.91
6 69
6.86
6 55
6.62
7.17
6.94
6.92
6.87
6.73
8.46
8.16
8.00
8.07
8.04
9
CO
8
S
9
10
60
on
57
4
9
8
8
9
10
55
80
47
10
Q an
Stocks
Dividend rates, prices, yields, and earnings, common stocks (Moody's):
Dividends per share, annual rate, composite
dollars..
Industrials
._
_ do
Public utilities
_
do
Railroads
do
N.Y. banks_.
do
Property and casualty Insurance cos _
do
Price per share, end of mo., composite
Industrials
Public utilities.
Railroads
.do
do
do
do
220. 35
270. 42
48.26
77.16
224. 15
275. 47
47.80
79.22
234. 59
290. 62
46.99
82.55
244. 75
304. 66
49.62.
80.80
251. 22
312. 67
55 06
82.96
234. 44
291. 42
51 58
76.11
230. 57
288. 52
51.33
74.34
m
Yields, composite
Industrials.
. .
Public utilities
Railroads
_
N.Y. banks_. _ ._ _
Property and casualty insurance cos
percent
do
do
do
do
do
4.82
4.37
10.01
5.53
4.01
5.14
4.69
4.17
10.38
5.78
4.34
5.03
4.47
3.93
10.56
5.55
3.99
4.94
4.26
3.72
10.00
5.52
3.96
4.35
4.18
3.68
9.01
5.33
3.67
4.20
4.47
3.95
9.64
5.44
4.06
4.63
4.47
3.98
9.68
5.57
4.36
4.83
0)
Earnings per share (indust., qtrly. at ann. rate;
pub. utll. and RR., for 12 mo. ending each qtr.):
Industrials
dollars
Public utilities
do
Railroads
do
27.69
7.63
9.81
18.84
7.70
8.80
Dividend yields, preferred stocks, 10 high-grade
(Standard & Poor's Corp.)
percent--
8.24
Prices:
Dow- Jones averages (65 stocks).
Industrial (30 stocks).
Public utility (15 stocks)
Transportation (20 stocks).
237. 33
759. 37
75.84
164. 05
Standard & Poor's Corporation^
Industrial, public utility, and railroad:
Combined index (500 stocks)
1941-43=10..
Industrial, total (425 stocks) 9
Capital goods (110 stocks)
Consumers' goods (184 stocks)
Public utility (60 stocks)
Railroad (15 stocks)
do
do
do
do
do
Banks:
New York City (9 stocks)
do
Outside New York City (16 stocks).. _do
Property-liability insurance (16 stocks)__do
82.84
8.36
247
802
79
163
25
49
81
39
86.16
8.04
8.27
8.51
8.34
8.24
51.48
80.52
52.58
76 76
54. 75
79 64
57.17
83 76
84.67
88.57
90.07
88.70
96.86
96.21
93 05
78 29
40.61
35.13
94.96
93 61
77 25
40.53
34.93
99.29
% 77
83 07
42.59
36.92
100. 86
97 35
88 01
43.77
37.81
99.31
96 41
85 66
43. 25
37.07
108. 45
108 41
91 03
46.99
41.42
51.33
83 01
46.72
78 64
44.84
79 21
45.56
80 01
44.87
77 73
48.69
85 40
52.23
93 38
52.34
95 56
54.42
99. 93
96.72
85.19
95.98
97.83 100. 69 100. 97
79.71
93. 75
92.70
88.23
assumed 3 percent 20-year bond.
O For bonds due or callable in 10 years or more.
9 Includes data not shown separately.
99.56
58.13
90 44
54.16
83.89
85.71
114. 67
115.86
94.39
46.07
44. 91
57.77
87 19
95.27
96.76
80.75
38.19
38.55
845 51
82 94
170 59
101. 93
92.49
103. 84
101 15
86 58
43.67
38.04
93.90
92 78
80 42
39.55
38.35
059 9g
OO1
101. 08
92.40
103. 68
101 15
85 98
43.67
38.94
96.56
94.63
81.18
41.17
37.48
253 38
113. 73
117 30
94 64
45.67
44.54
90.10
101.56
101. 96
85.15
39.69
38.90
02
28
32
11
112.96
116 68
93 47
47.22
43.40
84.72
92.91
92.84
78.08
38.91
37.29
9
46
818
77
155
100. 64
83.78
71
56
29
69
8.56
302. 68
992 86
87 15
208 34
244. 32
790 93
75.77
166 35
254
836
77
169
8.41
60
55
88
80
18
06
90
28
240
765
78
162
88.72
84.15
86.29
84.76
94.63
p Preliminary.
• Estimate.
1 Series discontinued by Source,
er of issues represents number currently used; the change in number does not
affect continuity of the series.
U Prices are derived from average yields on basis of an
(1)
22.91
7.80
• 7 45
259
845
83
168
00
70
87
40
260
856
82
167
30
28
68
98
246
815
77
156
22
51
92
32
Oft
80 99
1 fi4 17
256
840
81
166
42
80
60
84
285
099
89
190
28
34
17
80
297
971
89
203
84
70
27
17
301
988
86
207
SURVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1974
| 1975
1975
Mar.
Annual
May 1976
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
Apr.
FINANCE—Continued
SECURITY MARKETS— Continued
Stocks— Continued
Prices— C ontinued
New York Stock Exchange common stock indexes:
C omposite
12/31/65 = 50_ _
Industrial
do
Transportation
_ __ _ _ _ d o _ __
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
milllons.-
45.73
50.52
31.10
31.50
47.14
44.35
48.63
31.62
31.04
47.83
44.91
49.74
31.70
30.01
47.35
47.76
53.22
32.28
31.02
50.06
49.22
54.61
32.38
32.79
52.20
118,434 r 156,959
r 6, 216
4,846
13,890
14,585
588
565
16,095
14,710 ' 15, 797 '11,176
586
'604
406
99, 178
3,822
133,684
5,051
11, 767
12, 423
473
461
13, 602
12, 627
3,518
4,693
454
447
458
447
442
281
511. 06
21, 737
685. 11
22, 478
626. 61
21, 822
654. 66
21, 899
687. 94
21,938
723. 00
22, 016
678. 07
22, 094
660. 95
22, 143
43.84
48.08
31.89
29.79
49.67
616
499
479
49.54
54.96
32.90
32.98
52.51
13, 504
494
45. 71
50.71
30.08
31.02
46.55
44.97
50.05
29.46
30.65
43.38
47.64
52.91
32.09
32.99
45.10
46.78
51.89
31.61
32.75
43.86
51.31
57 00
35.78
35.23
48 83
53. 73
59.79
38.53
36.12
52 06
' 9, 634 ' 13, 131 '11,008 '12,829 '18,470
'355
'521
404
'469
'689
20, 428
9,513
8,172
327
46.87
52 26
30.79
31.87
44 36
9,495
11, 344
389
335
275
366
319
636. 87
22, 193
672 11
22, 245
692. 22
22, 382
287
10,881
15, 708
54.01
61 60
39 19
35.44
52 59
54.28
60 62
38 66
35.69
52 71
795
17, 415
563
640
349
636
596
531
392
685. 11
22, 478
771. 39
22,551
769. 47
22,592
791. 85
22, 700
781. 60
22, 784
417
FOREIGN TRADE OF THE UNITED STATES
VALUE OF EXPORTS
Exports (nidse ) incl reexports total o"
Excl. Dept. of Defense shipments
Seasonally adjusted
By geographic regions:
Africa
Asia
Australia and Oceania
Europe
Northern North America
Southern North America
South America
_
.
_.,
By leading countries:
Africa:
Egypt
Republic of South Africa
Asia; Australia and Oceania:
Australia including New Guinea
India
Pakistan
Malaysia
Indonesia
Philippines
Japan _ _
__
__
__._
07 651 8 9 441 9
9,078.6
8 951.6
8 691 0 8 264 2
8455 6
97,908.1 107,190 6 9,413.0
8 685 2
9,016.9
8,647.6
8,900.6
8,221.5
8,630.7 8,234.8
8 716 1 8 893 8
8 445.8 8 391 2 9 718 1 9 513 7 9 303 5 8 760.2 8,737.6 9, 842. 2
8 979 2 9 145 7 9 224 6 9 409 3 9 249 9 9 103 4 8 800 1 8 955 6
do
do
do
do
396.6
449.5
3, 659. 4 4, 949. 2
470.7
25 784.5 28 259 5 2 378 5 2, 260. 6 2 317. 9 2
175.6
211.3
2, 696. 8 2, 338. 6
182.9
30,069.6 32, 726. 5 3, G92. 5 2, 685. 7 2, 573. 7 2
do
do
do. _
19,941.7 21,767.4 1,819.2 1,979.5 1,968.0 1,891.7 1, 625. 0 1, 620. 2 1 848 6 2 084 7 1 917 5 1,830.4 1, 675. 7 1,851.8
725.5
720.7
7 947.7 8 290 4
679 1
673. 9
664 6
713 7
665 G
680 4
738 2
722 5
621 6
750 3
674.0
789.3
704.3
7, 856. 0 8,815.3
799.0
680.7
628.6
786.3
719.9
755.9
815 9
664 0
695 5
do
do
455.2
1 159.9
682.7
1 302 4
78.9
126 9
52.5
95.7
82.0
104.8
47 8
108 6
78.0
119 3
44 0
102 8
do
do
do
do
2 172 3
759.8
396.4
377.3
1 834 0
1 289 7
372.0
395.3
143 6
81 0
16.6
25.5
143.6
86.9
49.9
29.1
175 4
97.5
29.5
27.0
156 0
122 3
38 9
31. 1
134 2
109.5
21.3
31.0
159
119
32
42
7
7
8
9
530.5
do
746.7
do
_ _do. _ _ 10,678.5
810 1
831. 5
9, 565. 4
76 2
72.6
827.4
77 8
57.5
757.5
92 7
64.5
785.8
78 0
71 7
783.9
78 7
74.7
773.6
2, 941. 5
3, 030. 7
315.8
274.2
259.1
228 7
21.9
17.3
.3
1.1
1.2
7
4, 984. 6
5, 194. 1
494.9
429.8
410.4
do
do
do
2,751.6
608.8
4, 573. 5
2, 866. 9
1 835.5
4, 524. 9
284.1
87 0
462.5
230.6
77.9
368.5
257.8
92.7
357.2
do
19 936.0 21 758.9 1 819 0 1 979.4 1 964.7 1 889 2 1, 624. 7 1,620 0 1 848 5 2 084 3 1 917 2 1,830.4 1, 675. 3 1,851.5
do
do
do
do
do
(jo
do
14 500 9
596.6
3, 088. 0
452.2
659.2
4, 855. 3
1, 767. 7
do
do
do
97 144 2
96, 545. 0
21 998.9
75 145 2
Europe:
France
do
German Democratic Bepublic (formerly E.
Germany)
mil $
Federal Republic of Germany (formerly W.
Germany)
mil $
Italy
Union of Soviet Socialist Republics
United Kingdom
North and South America:
Canada
Latin American Republics total 9
Argentina
Bra?il
Chile
Colombia
IVTexico
Venezuela
Exports of U S merchandise totalo71
Excluding military grant-aid
Agricultural products, total
98 507.2
do
do
mil $
423
435
191
269
427.1
2
382
0 2, 300. 1 2 388
172.7
6
197
7 2, 327. 1 2,454
8 416 8 9 749 7 9 526 7 9 328 7 8 769 8 8,742 4 9 847 4
5
347 2
444 4
6 2 287 9 2 36Q § 2
9
192 8
213 6
7 2 400 2 2 985 5 3
43 0
117 9
48 7
110 0
48 8
119 6
61.3
96.6
78.3
93 1
153 6
116.0
22.0
57.4
151
102
28
36
7
1
2
2
184 7
91 6
33 2
29.4
166 3
127 6
29 8
30.7
154.4
123.5
28.1
29.8
163 2
99.0
35.0
30.8
62 0
67.2
793.2
55 8
72.3
724.9
61 4
67*9
752 9
58 5
70.0
844.1
64 8
78.4
729.9
91 2
57.6
841.4
72 3
59.1
671.9
223.3
213 4
214.5
251 5
240 0
273.7
254.2
281.1
3.3
.4
.8
5 5
16
.6
.5
.6
347 7
355.9
387.9
389.5
436 5
477 3
534.5
504.1
386.5
2^1 4
76 6
330 1
228.3
120.6
360.7
255.1
151 1
325.8
194.6
147 6
341.0
220 3
305 1
359 6
231 0
353 9
367 7
207.9
233.8
348.9
264.8
234.2
346.0
230.5
276.5
386.3
15 670 0 1 382 7 1 382 4 1 277 3 1 344 6 1 266 1 1 285 1 1
41.2
29.0
66.4
628.3
76.1
37.3
50.7
222.9
264. 6
255.3
269.3
3 056.2
291 3
265 5
45.4
26.2
533.4
41.8
49.1
57.7
40 6
60.4
60.5
55.3
642.9
54.5
60 9
50.5
448.5
431.6
419 2
5, 143. 6
464 0
417 2
433 8
175.0
177.3
2 243.3
198.7
191 0
181 9
193.3
106 156 7
105 695 6
21,889.2
84 267 6
9 299 0
9 270 1
1,911 1
7 413 1
8 950 1 8 836 1 8
8 888 4 8 785. 1 8
1 757 6 1 496.4 1
7 188 2 7 340 9 7
35.1
90 4
331.6
339.7
424 4
406 8
388 2 2 385 2 2 409.3 2,218 4
203.2
192.9
206 6
236 1
053 8 2 969 4 2, 804. 7 2, 836. 1
551 1
490 8
389 7
161 4
8 157 8
8,128 5
1,532.4
6 626 6
185 2 1 412 5 I 318 1 1 380 2 1 238.1 1 195.7
29.4
27.5
71.5
36.4
42.4
39 9
232.5
265.0
270.7
243 8
299 9
270 1
36.6
26.3
40.8
49 5
49 3
28 9
47.8
39.8
58.0
54 6
40 7
41.6
427.5
412.6
483.2
451 4
450 5
385 1
185.3
192.8
193.3
189 7
206 2
181 4
8 362 0 8,297.2
8*352 1 8,271.6
1,600 7 1, 609. 9
6 786 2 6 692 8
9
9
2
7
633 2
601 7
081 9
551 3
9
9
2
7
420 5
407 4
176 4
244 1
9 215 2
9, 190. 0
1,959.9
7 255 3
8 668 1
8, 658. 5
1, 994. 1
6 674 0
8 633 9 9 690 7
8,629.1 9, 685. 4
1,715.1
6 918 8
By commodity groups and principal commodities:
13 985 8 15 486 7 1 276 6 1 219 6 1 028 4 1 060 3 1 114 7 1 182 6 1, 244. 3 1, 475. 6 1, 526. 8 1,382.0 1, 333. 3 1,159.8 1, 244. 3
Food and live animals 9
mil $
527 7
62.2
50 8
57 1
45 7
56 1
53 9
380 7
47 0
49 7
41 7
Meats and preparations (incl poultry) do
43 3
34 9
39 9
840.6
933 3 1 114 4 1, 174. 4 1 038 4
982.7
711 0
876 7
10 330 9 11 643 1
809 0
Grains and cereal preparations
do
976 6
884 2
743 8
Beverages and tobacco
do
1,247.4
1,309.8
120.1
101.6
98.1
79 8
Crude materials inedible exc fuels 9
Cotton raw excl linters and waste
Soybeans exc canned or prepared
Metal ores, concentrates, and scran
do
do
do
do
10 934 4
1 334 7
3 537 4
1 . 475. 0
9 784 3
991 2
2 865 2
1. 355. 2
892 3
90 8
273 7
113.5
810 7
88 2
236 0
1 22. 4
765 8
85 9
155 6
142.2
668 4
95 2
83 8
130.fi
' Revised.
cf Data may not equal the sum of the geographic regions, or commodity groups and principal
commodities, because of revisions to the totals not reflected in the component items; these
revisions will be shown later in biennial editions of BUSINESS STATISTICS. Also, beginning
1973, the totals reflect relatively small amounts of trade with unidentified countries, not shown
separately.
9 Includes data not shown separately.
r
71.5
104.7
105.7
128.6
150.8
139.6
187.9
137.6
118.1
757 1
90 8
185 9
111.7
r 775 9
86 0
200 4
112.6
693 5
67.6
145.2
106.4
876 2
59 8
354.9
99.8
859 5
44.9
336.4
94.8
819.9
61.6
268.3
84.1
835.8
57.1
277.4
85.8
794.1
39.4
265.7
82.4
904.5
NOTE FOR PAGE S-25: *New series. Source: U.S. Dept. of Labor, BLS. The index
measures changes in prices of shipping goods by rail in the U.S. (shipments priced were
selected from ICC railroad waybill sample) and is not affected by charges in quantity, shipping terms, types of service, etc. Data back to 1969 (and detail for 11 commodity groups),
concepts, methods, uses, and limitations appear in MONTHLY L.YBOR REVIEW (BLS), June
1975.
SURVEY OF CURRENT BUSINESS
May 19T6
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1974
1975
Annual
S-23
1975
Mar.
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
346.9
231.2
89.4
268.4
187.3
60.0
281.7
156 2
84.8
303.9
Apr.
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF EXPORTS— Continued
Exports of U.S. merchandise— Continued
By commodity groups and principal commodities—Continued
Mineral fuels, lubricants, etc. 9
mil. $
Coal and related products...
_ _do
Petroleum and products
do
3,443.9
2, 487. 2
791.7
4, 464. 9
3, 343. 0
907.3
399.6
295.6
73.9
391.4
298.7
68.4
436.5
339.2
84.7
406.2
310.1
83.3
310.3
220.0
74.8
379.8
288.9
98.1
322.8
233.9
79.7
318.5
224.2
81.1
457.9
379.6
63.8
Animal and vegetable oils, fats, waxes,
do
1, 423. 3
943.8
120.8
73.7
88.9
57.9
66.3
43.9
43.5
56.9
77.7
68.8
78.9
73.9
77.9
Chemicals .
do
8,819.2
8, 705. 3
788.2
737.1
702.6
718.7
704.6
710.7
682,2
730.2
661.6
780.7
748.7
714.9
863.8
11,165.8 10, 917. 7
1, 795. 3 1, 624. 5
2, 560. 3 2, 457. 0
1, 300. 4 1, 089. 5
949.6
134.2
243.0
86.1
948.6
139.6
219.5
104.0
954.2
136.0
230.1
98.0
899.2
129.4
225.9
87.5
862.8
122.9
199.5
71.2
875.2
132.8
199.1
79.6
880.1
142.8
185.9
84.7
980.4
162.0
173.5
92.3
914.3
147.1
184.2
92.6
895.2
145.6
151.6
103.2
894.0
150.3
145.0
90.2
890.5 1,019.0
151.3
152.4
68.0
_ _.
Manufactured goods 9 If
Textiles .
Iron and steel
_ _
Nonferrous base metals
.. -do
do
do
__do
Machinery and transport equipment, total
mil. $
Machinery, total 9
Agricultural
Metalworking _
Construction, excav. and mining
Electrical
Transport equipment, total..
Motor vehicles and parts
do
do do..
do
do
do
do
38,188.6 45, 709. 5
4,026. 6 3,910.1 3,993.0 3, 938. 0 3, 577. 9 3,550.7 3, 618. 9 4, 257. 8 3, 946. 7 4, 038. 2 3,589.3 3, 879. 3 4, 330. 9
23,687.9 28, 476. 2 2, 452. 7 2, 494. 9 2,479.9 2, 423. 1 2, 287. 4 2, 304. 6 2, 202. 9 2, 587. 9 2, 413. 8 2, 474. 3 2, 377. 1 2,402.3
190.7
1, 398. 4 2, 094. 4
174.7
198.5
189.9
182.5
171.4
155.5
142.6
186.6
150.1
206.1 200.3
71.7
636.5
73.6
75.8
73.5
79.4
72.4
96.2
83.1
85.4
83.3
63.8
916.4
74.8
406.5
3,112.6 4, 731. 4
383.8
421.2
413.8
423.1
429.6
394.4
397.5
386.2
374.4
413.1 419.8
688.5
624.2
7, 019. 2 7, 586. 5
651.8
646.1
596.9
792.2
706.4
633.3
624.1
599.2
664.2
665.1
652.7
14, 500. 7 17, 233. 3 1,571.5 1,410.2 1,510.4 1,514.9 1, 290. 5 1, 246. 1 1,416.0 1, 669. 8 1, 532. 8 1,563.9 1,212.2 1, 477. 0 1, 541. 1
848.1
7, 878. 1 10, 036. 2
843.9
893.4
743.7
919.4
760.5
728.2
989.7
944.3
890.8
893.0
854.5
Miscellaneous manufactured articles
do
5, 349. 1
Commodities not classified
do
2, 586. 6
477.9
500.4
611.8
254.0
201.6
216.5
5, 672. 4
488.0
482.3
483.5
481.0
454.6
3, 162. 3
237.0
274.9
285.0
241.4
237.9
do
do
100,251.0 96, 140. 4
7,404.5
7,466.5
8,190.1
7,958.5
7,367.9
7,266.2
7,279.0
7,103.5
7,920.7
7,832.2
do
do
do
do
6, 617. 6 8, 304. 6
474.5
686.4
579.9
893.8
710.7
632.5
681.6
869.2
760.1 687.4
789.9
743.0
27,344.9 27, 054. 6 2, 010. 1 2, 156. 7 1, 860. 0 1, 870. 8 2, 176. 1 2, 223. 9 2,321.3 2, 574. 5 2, 356. 0 2, 663. 0 2, 955. 3 2, 502. 1
1, 503. 9 1, 508. 2
102.3
154.6
112.8
136.1
130.9
124.0
132.0
163.5
118.2
94.9
91.1
115.9
24,411.8 21,465.9 1, 949. 6 1,721.9 1, 627. 3 1, 708. 1 1, 782. 0 1, 558. 1 1, 539. 1 1, 742. 9 1,831.0 2,053.9 1, 896. 6 1, 610. 8
do
do_.
do
21,929.1 21, 754. 7
9, 433. 1 8, 821. 6
8, 962. 4 7, 219. 3
460.8
277.8
460.0
530.9
246.0
278.2
471.8
478.5
353.3
265.5
VALUE OF IMPORTS O
General imports, total c?__
Seasonally adjusted.
By geographic regions:
Africa.. _ _ _ _ _
Asia.
__.
Australia and Oceania.
Europe.
Northern North America.
Southern North America
South America
...
.__
_
.,
By leading countries:
Africa:
Egypt
Republic of South Africa
Asia; Australia and Oceania:
Australia, including New Guinea. _
India
Pakistan. _
.
Malaysia
_
Indonesia
_
Philippines _
Japan. __
do
do
_ do
do
do
do
do
do
do
Europe:
France
do
German Democratic Republic (formerly E.
Germany)
mil $
Federal Republic of Germany (formerly W.
Germany)
mil. $
Italy._
do
Union of Soviet Socialist Republics _. do
United Kingdom .
.
do
North and South America:
Canada
69.7
608.8
7,518.8 8, 161. 6 8,511.9 7, 910. 7 8, 888. 9 9,009.0 8, 111. 2 10,199.2
7,877.2 8,205.1 8,170.4 8,203.6 8, 525. 7 9, 176. 0 8, 940. 9 9, 606. 5
1,704.1 1,916.5 1,828.6 1,813.2 1, 756. 7 1, 597. 9 1,821.6 2, 036. 1 1, 861. 5 2, 021. 5 1 796 2 1, 870. 9
776.4
602.0
749.5
591.7
798.9
714.2
681.7
715.2
753.4
760.5
778.6
684.6
472.7
506.9
601.2
566.7
501.1 606.2
627.7
560.4
727.8 547.2
558.7
692.8
27.5
840.9
.2
61.6
.4
86.7
.4
52.2
.7
77.1
2.8
91.0
2.3
46.9
6.8
79.7
.5
85.0
1, 082. 7 1,183.0
559.5
548.2
60.7
48.8
769.7
766.4
1, 688. 1 2,220.6
1, 083. 9
754.2
12 337 6 11,268.0
77.0
28.5
2.5
59.0
93.2
84.3
1,006.4
92.0
31.2
4.4
51.7
214.4
92.1
929.1
70.3
30.7
3.3
55.0
148.7
47.9
808.3
123.4
37.1
3.5
56.5
133.4
33.1
858.1
89.3
42.3
3.8
59.4
224.8
35.7
952.6
108.3
36.6
3.3
44.0
232.1
50.2
915.5
132.4
50.7
3.3
56.2
207.6
87.3
840.6
109.8
76.8
3.9
74.4
219.2
99.3
938.1
177.7
176.1
204.6
163.9
134.2
.6
.7
.9
1.0
430.0
190.3
18.7
311.4
408.8
214.3
14.1
271.4
347.6
205.7
21.4
274.6
2, 257. 4
2, 136. 9
191.9
175.7
14.1
11.2
.7
.6
6, 323. 9
2, 585. 0
349.7
4,061.3
5, 381. 5
2, 397. 1
254.4
3, 784. 4
508. 5
242.7
14.3
323.2
439.2
185.3
18.0
304.3
.8
403.2
162.3
16.5
290.0
413.6
192.3
20.3
311.8
11.4
62.8
5.8
70.8
101.3
77.2
6.2
80.8
182.5
63.4
867.1 1
101.0
89.1
62.1
59.8
6.4
5.4
66.8
77.5
245.1
192.9
49.5
44.3
044 9 1, 156. 7
79.0
59.1
5.8
65.6
190.9
58.3
995.0
150.8
175.5
194.9
185.3
166.7
1.4
.9
1.3
1.9
.5
433.1
194.9
25.4
~298. 2
438.1
209.9
17.0
298.3
486.0
207.5
16.7
302.2
348.0
178.5
11.2
286.6
4.8
71.9
7.8
59.5
509.5
218.5
23.7
360,7
do
21,924.4 21, 746. 7 1,703.4 1 915 4 1, 827. 3 1,812.8 1 7^ R 1 597 6 1, 820. 9 2, 034. 7 1, 861. 5 2, 020. 3 , 795. 7 1, 870. 9
Latin American Republics, total 9
do
13,666.9 11, 839. 8
952.3
872.4 1,114.7
925.6 1, 068. 7
835.6
992.8
997.2
964.1 1, 037. 6
927.8
979.0
Argentina
do
214.6
39.9
385.8
12.4
20.5
22.5
18.3
9.7
12.6
27.2
10.4
14.4
10.7
24.9
Brazil __
do
115.2
1, 699. 9 1, 464. 3
108.4
134.1
98.5
121.0
98.9
135.8
110.4
96.1
117.5
119.7
188.3
Chile
do"""
137.7
310.3
13.1
12.2
10.9
7.8
10.8
16.4
13.1
11.9
14.6
9.0
14.1
10.3
Colombia
do
511.0
590.2
44.5
32.8
55.0
58.5
59.5
58.9
50.3
41.0
40.4
46.4
61.4
59.9
Mexico
_
do
3, 390. 4 3, 058. 6
298.4
263.4
258.0
245.7
248.0
280.2
253.5
274.2
270.3
268.9
251.1 243.5
Venezuela
do
4, 671. 1 3, 623. 9
249.8
284.1 287.4
286.2
251.8
443.6
259.3
225.3
304.5
307.8
204.0
278.1
By commodity groups and principal commodities:
Agricultural products, total....
mil $ 10, 380. 1 9, 489. 8
829.2
831.0
687.4
787.3
786.3
800.5
787.3
843.0
701.9
763.0
857.7
946.2
Nonagricultural products, total..
do..II 89, 837. 9 86, 650. 5 6,669.5 7, 393. 8 6, 656. 1 6, 413. 7 7, 152. 4 6, 826. 2 7,215.4 7, 682. 7 7, 110. 2 8,101.6 8, 165. 9 7, 280. 2
Food and live animals 9
do
9, 386. 2 8, 508. 8
759.9
890.1
657.5
669.5
684.5
635.8
725.1 712.1 759.7
611.0
779.7
705.8
896.9
Cocoa or cacao beans
do
321.1
27.2
316.6
34.1
21.8
41.7
28.2
14.6
24.0
44.3
19.4
24.6
21.2
23.6
Coffee
do
1, 504. 8 1, 560. 9
145.5
110.1
117.4
166.3
102.2
140.9
141.0
152.0
95.7
120.3
115.9
210.4
Meats and preparations
do
1, 352. 6 1, 141. 2
102.0
87.2
90.7
125.5
100.6
75.7
135.6
67.7
83.2
95.6
99.9
106.2
Sugar
do"""" 2, 247. 4 1, 870. 1
165.4
154.2
90.4
76.3
91.3
62.9
200.3
145.2
109.1
259.5
174.7
237.0
Beverages and tobacco
do
1, 322. 3 1, 419. 5
128.0
167.8
137.2
143.7
119.1 116.9
158.3
120.4
141.5
103.4
129.6
95.8
106.9
Crude materials, inedible, exc. fuels 9
do
6, 065. 6 5, 564. 3 460.6
539.6
524.4
457.7
439.5
475.3
483.7
453.6
513.0
476.4
415.3
506.4
420.9
Metal ores
~d 0
1, 848. 1 1, 976. 7
165.0
183.9
102 0
126.4
161.4
147.0
160.1
181.5
155.4
184.3
150.4
183.3
Paper base stocks.. _
do
1, 164. 9 1, 067. 5
105.5
86.9
96.9
99.3
108.6
81.7
87.8
97.2
86.8
92.4
82.2
75.8
Textile
fibers
do""""
174.4
225.2
8.5
19.6
18.4
20.8
16.8
14.9
18.0
12.3
11.4
11.3
12.9
17.6
Rubber
do
364.7
515.6
33.8
27.4
34.1
39.2
36.9
38.5
27.6
18.7
30.7
28.0
32.3
30.0
Mineral fuels, lubricants, etc
do
25, 453. 8 26, 475. 6 1,480.7 2,441.3 1,945.0 1,436.1 2,137.3
, 446. 1 2, 345. 5 2, 089. 4 2,547.5 , 790. 7 , 302. 3 2, 748. 2
Petroleum and products
doll" 24, 269. 5 24, 814. 3 , 343. 3 2,310.4 , 828. 0 1,316.1 2, 021. 8 2,2,245.6
134. 3 2, 305. 0 2, 197. 7 , 931. 1 2,364.1 , 609. 4 , 122. 4
Animal and vegetable oils and fats
do
34.4
553.9
51.5
544.3
55.1
46.0
40.7
37.8
51.9
33.2
48.8
66.2
44.8
32. 7
41.6
Chemicals
"do
410.1
4, 017. 7 3, 696. 4
327.9
316.6
340.8
351.9
350.0
302.4
298.5
285.6
252.8
275.1
247 A
270.6
Manufactured goods 9 If
do
17,718.7 14,700.5 , 313. 3 1,243.1 , 144. 7 1,230.8 1, 136. 6 , 005. 3 , 091. 8 , 194. 0 , 121. 2 ,211.1 , 190. 5 , 108. 6 , 470. 7
Iron and steel
do
291.2
5, 148. 9 4,594.5
485.5
330.5
279.6
310.0
371.6
285.4
422.5
355.8
321.8
238.5
265.7
Newsprint..
do
76.6
1, 503. 2 1, 427. 3
134.6
78.6
68.7
97.8
73.1
138.1
131.0
134.6
131.9
106.0
109.0
Nonferrous metal's
do
211.1
194.5
3,921.0 2, 580. 7
252.7
169.4
247.3
231.0
258.8
231.3
195.7
173.2
162.0
225.8
Textiles
do"""" 1,614.7 1, 218. 6
117.5
89.3
141.4
85.4
144.8
126.0
87.4
89.6
94.2
117.0
89.9
90.1
J Revised.
9 Includes data not shown separa tely.
IManufactu red good s—classi Tied chief ly by m aterial. QEffe itive Jurle 1975 SURVEY,
c f See corr sspondin g note o Q p. S-2 2.
data beginning 1974 are based on f.a.s. (free alongside ship) valu e basis rat her than customs value ba sis as forinerly shown.
SUEVEY OF CUERENT BUSINESS
S-24
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
May 1976
1975
1975
Annual
Mar.
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF IMPORTSO— Continued
General imports— Continued
By commodity groups and principal commodities—Continued
Machinery and transport equipment
mil. $__ 24,060.3 23, 464. 6 2, 079. 5 1, 899. 2 1, 934. 5 1,961.6 1, 964. 4 1, 822. 0 1,793.3 2, 138. 6 2, 018. 6 2, 269. 4 2,229.7 2, 104. 9 2, 724. 0
11,612.0 11, 727. 4 1, 029. 3
971.4 1,012.0
944.9
924.3
966.4 1 109.8 999 1 1, 124. 0 1 003.9 1, 009. 7
Machinery total 9
do
938 1
29 1
299.7
26.0
29.7
23.5
Metalworking
_
do
361.5
32.6
29.8
29.4
25.6
28.6
28.7
32.9
36.8
5, 339. 1 4,911.2
411.0
432.0
527.4
443.2
424.7
357.0
455.6
496.3
Electrical
_
do
353.0
444.3
407.9
450.1
Transport equipment
Automobiles and parts
__ __ __ _ _ d o __ 12,450.7 11, 737. 2
do
10,263.9 9, 920. 7
961.1
788.7
989.6
851.3
990.1
837.5
952.4
807.2
897.7
777.1
826.9 1,028.8 1, 019. 6 1, 145. 4 r1, 225. 9 1, 095. 3
979.8
907.0
699.8
914.3 1, 026. 2 l,132.4
do
9, 426. 2
9, 227. 6
687.8
703.8
626.3
722.7
850.9
800.6
815.7
919.7
844.1
878.7
838.7
790.2
999.2
. . . . . do
2, 255. 7
2, 529. 1
185.4
231.2
198.5
219.7
223.8
189.7
217.9
217.4
211.9
234.6
186.6
169.7
215.0
174.5
180.5
315.0
P 196. 3
P 175. 8
P 345. 1
199.0
182.9
364.0
197.4
176.2
347.9
196.9
174.7
344.0
194 6
170. 9
332 5
195.5
162. 8
318.3
194.2
168.9
328.0
195.5
165.8
324.1
194.1
193.7
376.0
195.5
188.4
368.4
198.7 P 199. 8 p 198. 4
181.1 ?>169.7 p 170. 3
359.8 P 339.0 p 337. 9
223.3
168.1
375.5
P 241. 9
P 149. 0
P 360. 6
249.3
135.1
336.7
248.3
148.4
368.5
245.8
135.2
332.3
246.2
133.4
328.5
238.3
149.4
356.0
238.8
141.3
337.4
237.6
154.5
367.2
238.9
160.5
383.4
236.6
150.6
356.2
239.6 *240.3
166.7 p 166. 7
399.4 p 400. 5
Miscellaneous manufactured articles
Commodities not classified
1,109.0
922.0
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Unit value
1967 = 100
Quantity
do
Value
do
General imports:
Unit value
_ do
Quantity
do
Value
_ _
_
- _ _
do _
p 241.9
p 150.9
p 364.8
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Shipping weight
Value
General imports:
Shipping weight
Value
thous sh tons
mil $
264,484
55, 506
21, 260
5,353
21,514
5,105
22, 262
4,969
21, 441
4,847
20, 939
4,743
23, 479
4,984
21, 373
4,625
23, 611
5,485
27, 156
5,466
thous sh tons
mil $
446, 558
67,160
26 597
4,812
38, 017
5,397
32, 342
4,779
27, 781
4,632
36, 107
5,300
35, 633
5,135
39 381
5,418
36 773
5,349
32, 095
5,018
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)
Certificated route carriers:
Passenger-miles (revenue)
bil
Passenger-load factors
percent
Ton-miles (revenue) totarf
mil
Operating revenues?©
Passenger revenues
Cargo revenues
Mail revenues
Operating expensesQ
Net income after taxesQ
mil. $
^ do
do
do
do
do
Domestic operations:
Passenger-miles (revenue)
Cargo ton-miles
Mail ton-miles
bil
mil
do
Operating revenues©
Operating expenses©
Net income after taxes©
mil $
do
do
International operations:
Passenger-miles (revenue)
Cargo ton-miles
Mail ton-miles
bil
mil
do
Operating revenues©
Operating expenses©
Net income after taxes©
mil $
do
do
162 81
53 7
22 186
13 30
52 4
1 820
14, 703 p 15, 360
11 879 p 12 352
1 248 p 1 314
309
P 311
6
13 978 p 15 229
322
P —71
3,502
2,849
293
79
3 643
-163
131 73
2 747
10 95
162 92
54 9
22 425
6
129 73
2 888
692
225
58
683
6
11
b
545
!0 760
471
12 91
50 9
1 774
14 90
56 5
1 968
3 711
3 950
224
57
10 42
233
57
12 14
232
52
18
6
2 35
2 12
172
35
152
37
2 AQ
157
36
-60
156
37
12 26
52 0
1 762
12 75
238
54
13.81
249
54
10 22
244
53
13 93
60 1
1 901
13.94 p 12. 75
53 4
P 52 0
1 839 p 1, 727
p 3, 888
p 3, 036
^361
p 85
p 3, 925
p -58
118
10 92
10.06
261
59
239
55
2 44
2 20
11 36
214
75
11.29
206
56
p 10. 54
P207
p52
3,203
3,075
42
3 35
172
35
3 49
175
33
2 67
187
30
210
33
204
38
496
450
2 56
2 65
pi 21
P161
173
46
151
33
493
481
467
564
142 6
149 6
152.2
*32
971
875
75
832
808
15
723
781
-70
3 157
& 3 218
2 76
13 36
53 7
1 899
344
72
32
10 07
12 90
51 8
1 803
4,174
3 389
-93
426
17 30
61 9
2 241
316
75
2 964
2 903
31 og
2 048
16 10
57 4
2 110
3,796
3 078
2 779
2,862
381
33 19
2 083
12 19
50 3
1 689
Local Transit Lines
Passengers carried (revenue)
mil
Motor Carriers
Carriers of property, large, class T, qtrly.:*
Number of reporting carriers
Operating revenues total
mil $
Net income, after extraordinary and prior period"
charges and credits
mil $
Tonnage hauled (revenue), common and contract
carrier service
mil tons
Freight carried— volume indexes, class I and II
intercity truck tonnage (ATA) :
Common and contract carriers of property
(qtrly. )cf
average same period 1967—100
Common carriers of general freight, 'seas, adj.f"
1967 100
Class I Railroads
Financial operations, qtrly. (AAR), excl. Amtrak:
Operating revenues, total 0 9
mil $
Freight
.
do
Passenger, excl. Amtrak
do
Operating expenses 0
do
Tax accruals and rents
do
Net railway operating income
do
Net income (after taxes) 0
do
5 606
3
98
r 5 595
r 512
98
99
433
•100
• 2 467
/98
98
2 269
2 500
f 2, 526
2,761
455
d
100
d 2 474
430
100
100
9 610
3 9 553
2 106
233
220
°5
d
88
54
• 049
81
/52
78
194
174
38
d
50
41
«48
43
/51
49
123 0
198 ^
138 5
140 1
137 6
141 8
« 4, 392
« 4 129
• 73
•3 322
•« 815
««255
•1246
4,154
3 900
/ 4, 324
f 4, 057
r 4, 435
4,176
3 237
/ 3, 450 f 3, 415
/ 726
'743
'277
/ 148
/ i 134 'i 239
135
121
117
2 155 4
131 8
122 2
r ig 947
T 315 881
r 16 423
15 410
3 839
3 588
3 995
3 '746
70
73
r 13 254
3 301
' 2 818 a 555
3 301
290
T 13 127
r 3 050
769
'1687
297
r 351
'illl
a
124
118
125 2
H7
1-176
r
2
Revised.
p Preliminary.
1 Before extraordinary and prior period items.
Comparison with year-ago data may be affected by the change in reporting actual tonnage3 carried
instead of billed tonnage, per the ICC Uniform System of Accounts (1/1/74).
Annual
total; monthly revisions not available.
O See corresponding note on p. S. 23.
9 Includes
data not shown separately.
H Applies to passengers, baggage, cargo, and mail carried.
S Passenger-miles as a percent of available seat-miles in revenue service reflects proportion of
seating capacity actually sold and utilized.
© Total revenues, expenses, and income for all
425
475
488
693
1
131 2
75
727
190
137 5
/71
78
U15
l 67
groups of carriers also reflect nonscheduled service.
* New series. Source: ICC (no comparable data prior to 1972).
d" Indexes are comparable for the identical quarter of each
year (and from year to year); see 2 .
©Natl. Railroad Pass. Corp. (Amtrak) operations
(not included in AAR data above), 1st 6 months 1974 and 1975 (mil. $): Oper. revenues, 129;
119; oper. expenses, 221; 248; net loss,
125; 166; (ICC).
« See note, bottom of p. S-25.
d
fe See note, bottom of p. S-25.
For 2d qtr. 1974.
* For 3d qtr. 1974.
/ For 4th qtr.
1974.
| Revised to new seasonal factors back to 1957.
May 1976
SUKVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
1975
1976
1975
Mar.
Annual
S-25
Apr.
May
June
July
Aug.
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
TRANSPORTATION AND COMMUNICATION—Continued
TRANSPORTATION—Continued
Class I Railroads— Continued
Traffic:
Ton-miles of freight (net), total qtrly
bil
Revenue ton-miles, qtrly. (AAR)
do
Revenue per ton-mile
cents
Price index for railroad freight*
1969=100..
Passengers (revenue) carried 1 mile..
mil--
880 7
851.0
1.848
149.7
10, 333
781 0
755 1
194 5
186 9
169.4
158.3
158.3
117
25.02
62
19 38
67
118
27.60
59
21 23
64
120
' 27. 11
••56
r 20 46
61
114
27.57
61
21 69
65
126
27.67
59
20 82
63
8 540
8 306
5 936
5 067
2,415
52, 857
7 966
8 177
6 176
5 326
2,334
60, 527
553
687
503
399
223
2,497
624
582
428
338
261
2,735
29 013
13, 932
11 456
18 468
5 9310
179
32 075
15 256
12 688
20 672
5 793
132 3
2 564
1 224
1 017
1 658
459
128 6
483 9
384 7
69 4
504 8
403 9
70 7
4 298 7 P 4 315 g
4 205 4 P 44223 5
4 77 4 p 74 6
202 8
196.3
190 1
182 4
193 3
189 6
1 950
165.8 2 165.9
4, 794
187.8
360.5
175.2
175.6
175.7
180.2
180.8
180.9
181.0
181.2
181.2
185.4
123
27 18
64
21 51
71
131
27.31
59
22 81
71
121
26.89
60
21 77
76
115
27.01
58
20 72
65
131
29.55
70
21 31
69
117
28.19
60
21 16
60
117
27.67
43
20 83
48
108
29.41
56
21 24
58
113
30.48
57
21 11
63
132
29.28
62
21 64
66
625
731
466
406
263
4,437
701
760
538
445
286
7,948
872
903
675
556
241
11, 320
1 003
882
728
665
187
11, 445
653
706
543
483
161
5,845
658
632
472
480
131
4,597
606
599
430
398
119
2,596
514
624
457
418
118
3,716
183
1,829
194
2,196
285
2,491
2 654
1 247
1 069
1 692
484
129 1
2 647
1 254
1 054
1 685
484
129 2
2 659
1 268
1 050
1 674
495
129 5
2 717
1 270
1 102
1 725
500
129 9
2 712
1,280
1 085
1,729
497
130 3
2 743
1,300
1,087
1,777
492
131.1
2 827
1,323
1 138
1,854
500
131 6
2 761
1,329
1,059
1,766
508
132.0
2 842
1,347
1,125
1,856
527
132.3
40 9
32 0
6 4
42 0
32 9
66
42 6
33 6
59
43 2
33 4
71
43 1
33 7
69
41 5
33 9
52
42.1
34.3
54
45 1
35.6
6 8
41.4
33.8
50
44.4
37.5
5 4
41.1
34.4
4.1
25 0
16 8
67
26 7
19 3
59
26 2
18 1
68
26 0
18 5
6 0
26 7
19 0
6 2
25.5
18.1
59
*27.5
*18.9
47 1
428.7
4
19. 8
47 3
425.2
418.4
452
426.6
420.4
45.1
427.0
420.1
45.0
83
'758
'181
36
82
781
203
37
92
830
205
37
204
789
225
849
71
95
65
69
2
Travel
Hotels and motor-hotels:!
Restaurant sales index
same month 1967 ~ 100
Hotels: Average room sale 1f
dollars
Rooms occupied
% of total
Motor-hotels* Average room salell
dollars
Rooms occupied
% of total
Foreign travel:
U S. citizens* Arrivals
thous
Departures
do
Aliens* Arrivals
do
Departures
do
Passports issued..
do
National parks, visits
_
do
?315
3,828
COMMUNICATION
Telephone carriers:
Operating revenues 9
mil $
Station revenues
do
Tolls, message
do
Operating expenses (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 taxes) do
Overseas, total:
Operating revenues
do
Operating expenses
do
Net operating revenues (before taxes) do
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
In organic Chemicals
Production:
Aluminum sulfate, commercial (17% AljOsH
thous. sh. tons.
Chlorine gas (100% Ch)!
do
Hydrochloric acid (100% HC1) J
do
Phosphorus elementalj
do
Sodium carbonate (soda ash), synthetic (58%
NajO)l
thous sh tons
Sodium hydroxide (100% NaOIDi
do
Sodium silicate, anhydrous*
'
do
Sodium sulfate, anhydrous j
do
Sodium trypolyphosphate (100% NasPsOioH
do
Titanium dioxide (composite and pure)! do
Sulfur, native (Frasch) and recovered:
Production cf
thous. Ig. tons..
Stocks (producer';') end of periodcf1
do
1,283
10, 753
2, 451
524
1,060
9,022
1,973
457
70
692
154
42
90
672
157
40
89
709
149
37
79
695
150
35
100
699
159
31
99
767
175
33
88
778
169
39
106
839
180
41
80
770
159
40
98
827
181
38
3,507
11,189
770
1,348
2,792
9,267
655
1,267
230
708
55
107
238
685
53
107
248
726
64
105
216
713
61
81
214
719
49
96
226
792
45
101
208
801
41
102
247
858
62
112
200
793
61
108
249
844
60
92
'100
210
805
64
95
903
787
778
603
66
37
64
44
61
46
60
48
57
50
68
57
67
63
72
62
61
52
62
52
60
'57
62
61
10,533
3,957
10, 141
5,126
904
4,220
908
4,309
912
4,498
835
4,739
837
4,871
841
4,950
802
4,993
826
5,051
781
5,078
817
5,126
'791
5,226
738
5,243
15, 805
7,542
i 2, 120
8,120
2,243
7,213
33, 052
15, 780
6,967
1,921
7,074
2,200
7,157
30, 593
1,369
641
161
603
215
658
2, 711
1,345
644
161
618
235
644
2,743
1,406
591
144
593
230
600
2,483
1,354
523
150
553
218
530
2,263
1,349
559
171
581
192
502
2,300
1,360
489
170
541
162
543
2,381
1,264
536
150
569
153
573
2,400
1,235
596
157
165
155
635
2,601
1, 251
568
154
608
159
662
2,695
1,439 ' 1, 342
610
••558
185
'150
624
'588
162
'147
'615
657
2,940 ' 2, 575
1,241
546
156
581
141
603
2,557
1,326
558
164
625
150
665
2,722
5,396
5,367
541
377
5,079
6,334
120,156 < 19, 611
1,397
i 914
13, 786
15, 361
1,415
< 1, 419
485
459
592
1,566
121
1,155
103
519
479
485
1,336
75
993
47
495
607
324
1,575
149
1,179
81
413
650
244
1,503
116
1,010
127
383
697
177
1,821
108
1,276
"126
375
707
338
1,715
134
1,023
205
406
621
320
1,787
79
1,252
111
461
509
672
1,586
147
1,163
133
478
538
384
1,619
173
1,081
132
505
541
470
1,639
142
1,205
79
'462
'619
437
1,596
110
1,103
104
458
656
381
1,159
84
808
96
472
552
'704
1,662
151
1,133
115
1
'60
Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydrous!
thous. sh. tons..
Ammonium nitrate, original solution!
do
Ammonium sulfatei
do
Nitric acid (100% HNOs)t
do
Nitrogen solutions (100% N)J
...do...
Phosphoric acid (100% P2O 6 )J
do
Sulfuric acid (100% HjSO^t
do
Superphosphate and other phosphatic fertilizers
(100%Pa0 6 ):
Production
thous. sh. tons..
Stocks, end of period
...do
Potash, deliveries (KjO).._
do
Exports total 9
do
Nitrogenous materials
do
Phosphate materials
do
Potash materials
do
Imports:
Ammonium nitrate
do
Ammonium sulfate
.do
Potassium chloride
_
do
Sodium nitrate
do...
25
27
26
245
369
40
32
12
219
258
595
388
728
6,132
7,146
42
18
17
150
139
r
l
Revised.
P
Preliminary.
Annual
total;
monthly
revisions
are
not
available.
J
For six months ending in month shown.
* For month shown.
4 includes data for
Western Union Int. Cable & Wireless as noted.
tEffectlve May 1975 SURVEY, series restated to shift index to the 1967 base month and to
show separately operations for hotels and for motor-hotels; comparable data back to May
1971 are available.
IF Refers to average daily rent per occupied room, not to scheduled rates.
9 Includes data not shown separately.
*See note "*," p. S-22.
t Monthly revisions back to 1971 are available upon request.
cfln the footnote of the 1973 BUSINESS STATISTICS a "distinction is made between "gross
weight" and "sulfur content." However, because the difference is so minute, the Bureau of
Mines no longer makes this distinction.
c
912
35
12
17
32
15
14
12
17
8
23
65
21
47
15
18
20
14
5
6
6
828
564
507
526
510
746
332
418
354
299
14
0
4
0
0
2
5
7
16
0
NOTES FOR P.S-24—° Beginning 1975 (andrestated year-ago period), datareflectchanges
in accounting to include provision for deferred taxes and other changes. For general comparison
under former accounting method, net railway operating income for 1st qtr. 1975 is about $18
mil. lower (and for 1st qtr. 1974, about $41 mil. lower); for motor carriers, net income
for 1st
6
qtr. 1975 is about $3.2 mil. lower (and for 1st qtr. 1974, about $1.8 mil. lower).
Effective
1974, comparison of operating revenues and expenses with prior periods is affected by revised
reporting regulations. Beginning 1974, 9ther transport-related revenues and expenses are
reported gross in operating revenues and in expenses rather than as net in operating revenues.
For the year 1974, for total certificated route carriers, this reporting
change had the effect ot
c
increasing operating revenues by 2.5% and expenses by 2.7%.
Corrected.
SURVEY OF CURRENT BUSINESS
S-26
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1975
May 1976
1975
Mar.
Annual
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar. i Apr.
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS— Continued
Industrial Gases}
Production:
Acetylene
niil. cu. ft
Carbon dioxide, liquid, gas, and solid
thous. sh. tons..
Hydrogen (high and low purity) _ _ mil. cu. ft
Nitrogen (high and low purity) _ _
do _
Oxygen (high and low purity)
do
Organic Chemicals cf
Production:
Acetylsalicylic acid (aspirin)
,. „ mil. Ib
Creosote oil ©
- - - mil. gal
Ethyl acetate (85%)
mil. Ib
Formaldehyde (37% HCHO).
do
Glycerin refined all grades
do
Methano'l synthetic
mil. gal
Phthalic anhydride
mil. Ib
ALCOHOLJ
Ethyl alcohol and spirits:
Production
^ •. _
-. .-mil. tax gal_.
Used for denaturation
do
Taxable withdrawals
do *.
Stocks end of period
- do
Denatured alcohol:
Production
>.
mil. wine gal
Consumption (withdrawals)
^ _-w
do
Stocks end of period
do
7,808
6,623
422
501
537
539
567
592
728
552
590
635
'582
629
1,766
75, 017
243, 612
389, 628
1,391
64, 959
236,248
350,789
106
110
115
127
103
109
r
138
145
5,541
19,350
29,067
5,214
18,688
27,014
5,485
19 453
26895
5,857
19, 971
27, 558
5,967
20,245
29,854
129
4,859
19, 364
32, 199
133
138
4,772
19, 165
?9, 595
127
6,137
20,436
29,018
1
132.9
25.8
i1 124. 2 1 117. 0
1
170. 2
124.3
i 5,845.8 1 4,616.0
348.7
264.4
1
i 1,033.9
779. 7
1
i 978.6
708. 8
5,386
19, 958
28, 390
6,344 r 6, 397 6,166
21,551 r 22 445 22, 411
28,341 »• 30 024 34, 441
2 2
21
9.0
1.9
8.7
2 2
2 3
2.0
7.9
2 2
1.8
6.7
70
352.7
18.3
58.7
54.7
59
372.7
18.8
76.5
64.2
11 1
356.7
17 3
80.5
52.6
8.3
61
380.3
19 8
52.0
50.6
2 4
75
11 1
384.3
22 1
64.6
64.9
1 9
10 1
351.5
22.6
30.1
43.7
10 8
430.1
19.5
61.6
68.0
98
495.4
22.9
65.6
73.6
14 3
399.4
25.7
73.5
65.0
14 1
431.7
27.0
78.7
78.1
2 1
6 0
11 9
357.8
27 3
71 5
68.4
2 4
55
12 1
45l'. 8
r
23 8
67.4
65.3
44.5
25.6
41.4
29.3
39.8
30.4
39.1
29.6
41.3
29.7
40.1
29 7
39.6
43.8
53.8
37.8
46.4
30.0
47.9
39.8
41.6
35.2
36.2
29 9
8.4
7.6
5.9
6.3
618.2
460.0
73.8
100.6
526.3
391.3
77.7
106.1
123.1
120.9
114 7
116.7
114.1
115 2
107.0
96.7
103 1
106.1
102 6
105 6
254.8
254.9
207.3
207.1
14.0
14.2
15.9
15.6
16.4
16.9
15.6
15.8
16.8
16.5
16.1
16.4
21
18.9
18.8
20.3
20.3
16.2
16.3
21.6
20.4
2.3
2.1
2.7
19.1
19.4
2.5
16.2
15.9
2 8
98.9
569.1
158.7
294.5
316.6
109.0
633.5
188.8
347.3
335.9
124.2
680 0
189.6
419.9
322 3
138.3
711 5
204.5
420.3
374 0
111.6
693.6
192.3
389.9
371.0
108.6
765.3
185.2
378.2
362.3
123.2
680.4
164.1
330.4
373 5
120.1
702 4
168.1
399.7
358 1
373.4
206.7
166.7
387.1
209.7
177.4
384.6
197.5
187.1
364 0
175.6
188.3
318.2
159.7
158.6
276.0 »• 305 0
124.9 r 142. 2
151.1 f 162. 8
361 0
175.4
185.6
2.8
5.9
2.7
2.4
6.4
6.1
2.7
2.1
6.8
2.0
6.4
6.3
7.1
2.2
7.6
2.2
6.3
7.5
5.5
29 2
5.2
PLASTICS AND RESIN MATERIALS
Production:
Phenolic resins
» _
Polyethylene and copolymers
Polypropylene
Polystyrene and copolymers
Poly vinyl chloride and copolymers
1
1,512.2
1
8 820 8
1
2257.7
1
i 1,277.5
17,260.8
11,917.6
4 967.6 i1 3,834.1
1 4 821 2
3,816.1
mil. Ib
do
do
do
do
97.8
483.2
119.6
260.3
247.7
105.0
454.1
133.3
312.3
281.8
99.8
506.6
144.8
345.9
270.4
334.1
175.8
158.3
362.9
197.4
165. 5
101.8
542.8
164.8
307.1
315.8
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments, quarterly
mil. lb_- 2, 152. 6 2, 325. 7
Palnts, varnish, and lacquer, factory shipments:
3 672 3 4,026 6
Total shipments f
mil $
1, 870. 5 2,079.0
Trade products f
v.
do
1, 801. 7 1,947.6
Industrialfinishesf _ .
. . . do
610.5
534.9
302.2
156.5
145.8
391.6
216.2
175.4
591.1
589.2
525.7
399.3
199.0
200.3
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total
mil kw -hr
162 197 152 206 158 376
1 967 288
Electric utilities total
By fuels
By waterpower
do
do
do
1 864 846 1 909 108 154 955 145 289 151 471
»1 564 431 1 609,467 126 913 118 610 123 781
r 300 415 299 641 28 042 26 679 27 690
Industrial establishments total
do
r
By fuels
By waterpower
do
do
7 243
6 943
102 442
r gg 905
r 3 537
300
6 918
6 618
300
6 906
6 582
324
167,782
160,927 175 857 179 202 156 802 154 748 152, 334 168 654 177, 873 156, 811
133,843 150 418 156 651 136, 311 132, 133 127, 938 142, 709 151, 780 132, 328
27 083 25 438 92 551 20 490 22 615 24 396 25 945 26 093 24 483
6,855
6,559
296
Sales to ultimate customers, total (Edison Electric
Institute)
mil kw -hr 1 700 769 1, 733, 009 139 872 136, 294 133 505 141, 801 150 637 157 013 154, 635 142, 409 140, 141 146, 913 158, 078
Commercial and industrial:
392 716 418 069 32 704 32 114 32 313 35 703 38 400 39 395 38 276 34 655 33 483 34 288 36 288
Small light and power§
do
Large light and power§
do
689 435 661, 558 53 169 52, 851 53 530 54 843 54* 335 56 551 57 555 57 512 56, 923 56 230 56 473
Railways and railroads
Residential or domestic
Street and highway lighting
Other public authorities
Interdepartmental
do
do
do
do
do
4 258
554 960
13 314
40 721
5 366
4,272
586 135
13 907
43, 625
5 443
388
48 596
1 165
3 459
391
379
46 035
1 096
3,428
390
339
42 424
1 063
3 436
398
319
45 741
9
102
3,691
482
344
326
333
351
338
389
408
52 275
55 311
53 057
44 430
43, 870
50 442
59 083
1 075
3,716
1 077
3 857
1 124
3 798
1 201
3,772
1,294
3,749
1 310
3,761
1 328
3 979
492
498
493
488
485
493
519
Revenue from sales to ultimate customers (Edison
Electric Institute)
mil % 39 126 8 46 857 6 3 683 5 3 601 9 3 543 0 3 832 4 4 187 2 4 366 8 4 294 4 3 974 4 3 855 3 4 043 9 4 349 5
GAS
Total utility gas, quarterly
(American Gas Association):
Customers, end of period, total
Residential
Commercial
Industrial
Other
_
Seles to customers, total
Residential
Commercial ...
Industrial
Other
Revenue from sales to customers total
Residential .._
Commercial
Industrial
Other
thous..
do
do
do
do
tril Btu
do
do
do
do
44, 734
45, 007
44, 953
44, 552
44,400
45,007
41, 034
3 446
41, 336
3 421
41 225
3 434
40, 932
3 375
40, 811
3,349
41, 336
3 421
204
90
190
54
186
54
191
58
196
58
191
58
16 000
14 882
4 947
3 546
2,790
3,567
4 977
2 346
6 888
9 236
1 150
468
296
1,170
4 865
2 293
8 153
689
670
534
1 546
1 728
1,854
1,652
168
133
172
179
3,374
5,000
979
435
2,144
mil $
15 360
19 205
6 328
4 560
do
do
do
do
6 8^9
2 539
5 509
8 441
3 315
6,849
3 348
1 978
1 454
2 012
1,682
1,784
249
113
176
413
601
'Revised,
i Reported annual total; revisions are not distributed to the monthly data.
§Data are not wholly comparable on a year to year basis because of changes from one
classification to another.
cf Data are reported on the basis of 100 percent content of the
specified material unless otherwise indicated.
JMonthly revisions back to 1971 are avail-
566
997
752
884
1,822
149
able upon request.
0In the 1973 BUSINESS STATISTICS the unit reads "millions of
gallons"; it should read "thousands of gallons."
t Monthly revisions for 1973 will be shown
later.
SURVEY OF CURRENT BUSINESS
May 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1974
1 1975
1976
1975
Mar.
Annual
S-27
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES 9
Beer:
Production
_
mil. bbL_ 156. 20
145. 46
Taxable withdrawals
- do
12.58
Stocks end of period
..
-do
Distilled spirits (total):
Production
__mil. tax gal__ 162. 55
Consumption, apparent, for beverage purposes
mil. wine gal._ H17.22
Taxable withdrawals
-- ..mil. tax gaL_ 221.77
875. 75
Stocks end of period
do
Imports
._ .
-- ..mil. proof gal. _ 110. 98
Whisky:
75.15
Production
mil. tax gal
137. 04
Taxable withdrawals
do _
Stocks end of period
- -_ -do __ 822. 11
93.92
Imports
mil. proof gal_.
160. 50
148. 57
12.74
12.40
11.57
13.76
14.50
13.01
14.26
15.76
14.44
14.30
16.00
14.69
14.36
14.72
13.88
14.18
13.34
12.51
13.98
12.35
11.90
13.48
11.22
10.61
13.20
12.15
11.59
12.74
12.44
10.86
13.38
11.89
11.00
13.33
144. 23
10.56
11.79
11.87
10.81
7.57
6.31
11.83
18.85
16 97
16.24
13.09
12 80
i 423. 31
229. 10
793. 87
113.46
32.57
15.75
857. 25
7.92
33.44
20.19
852. 07
9.93
33.84
19.47
841. 86
9.89
35.80
20.28
830 03
9.01
33.38
17.08
822 39
8.67
32.15
18.29
811 02
7.48
32.34
20.59
802 92
8.71
36.86
23.91
797 38
12.72
39.55
20.72
794 63
11.75
53.11
18.94
793 87
12.59
17.56
787 91
7.98
15.55
790 63
7.27
8.80
60.07
140. 51
737. 39
94. 98
4.41
9.81
802. 16
6.57
5.47
12.97
794. 26
8.39
5.13
11.92
786. 90
8.32
4.10
11.75
776. 47
7.50
2 42
10.04
770. 97
7.39
1 22
10 87
760. 46
6.05
5 41
12 81
752. 70
7.13
8 82
15.78
744. 94
10.83
7
13
739
10
87
22
59
01
8.06
11.19
737. 39
10.70
6 45
10 10
733. 65
6.71
6 60
8 85
731 23
6.03
7.09
8.13
3.22
10.79
5.25
9.83
4.34
10.26
4.36
8.48
3 54
8.18
3 22
10.08
3 98
11.38
4.96
9 71
4 48
9.51
3.58
7.29
2 87
7.60
3 31
1.57
1.43
1.20
9.65
.86
1.51
1.52
8.95
9.49
2 14
1.05
10 45
1.58
1.42
10 52
1.84
2.85
9 42
2 00
2 61
8 75
2.05
2.61
7 91
1.57
1.12
8 30
. 18
1 26
9.51
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
18.84
18.03
8.12
1.80
19.37
18.45
7.91
C
1.93
1.53
1.18
9.00
401 45
280. 04
451.
59
2
49. 58
384. 69
299. 81
451. 77
47.39
8.27
26.88
387. 40
3.34
7 14
24.30
366. 37
4.00
Distilling materials produced at wineries. _do
354. 30
338. 20
7.11
mil. Ib
_ do
$ per lb._
961.7
49.2
.674
975. 6
10.9
.818
mil. Ib _
do
2,930. 2
1,858. 6
2, 795. 9
1, 664. 5
118.67
53.38
14.34
13.41
14.17
r 113.
r
71
48. 10
.97
.91
.13
.08
8.82
24.24
347. 15
3.65
7.78
25.13
325. 14
3.98
6.01
2.72
96.3
60.5
.692
100.9
66.7
.704
238.0
144.1
243.4
152.9
.11
.14
.12
95
8 54
13
19
56
46
11
31
5 18
« 10
14
.22
30
.35
8.97
22.40
306. 45
3.91
8 97
21 69
287. 46
3 83
62 87
24 32
319. 58
3 44
162 20
29.97
440. 94
3 91
70 10
26 66
473. 10
5 28
21.41
27.86
451. 77
5 34
9 04
24 13
429. 85
4 68
3.87
6.12
13.24
80 01
143. 25
38 40
24.37
9.74
101.6
85.1
.705
88.3
99.6
.706
70.4
97.8
.788
58.9
78 9
.863
57 0
39 6
.900
66.6
27.1
.950
64 8
15 1
1.042
83.0
10.9
1.095
94 3
9.3
r 16 5
.878
.824
89.3
29.5
.881
264.2
168.4
273.2
170.7
249.9
153.0
226.3
133 8
213 0
115 6
218.6
120 7
210 9
117 0
238.1
135.6
249.0
149 3
241 2
149 7
275.0
165 8
7
21
414
3
7 33
DAIRY PRODUCTS
Butter, creamery:
Production (factory) f
Stocks cold storage, end of period
Price, wholesale, 92-score (N.Y.)
Cheese:
Production (factory), total! .
American whole milkj
85 4
.918
477.1
494.0
441.5
448.1
473.7
491 2
Stocks, cold storage, end of period
_do
367.8
453.1
367.8
312.7
362.4 r 365 9
447 9
388.3
379 2
412. 9
386.2
380.2
408. 9
American, whole milk
do
420.8
307.0
307.0
390 8
303 2 r 305 9
370 6
328 6
386 6
321 2
359 9
13.4
10 8
315.6
9.4
9.6
0.6
Imports
do
179.5
28.8
15 5
11
9
19
7
9.0
10
1
31
3
15 2
Price, wholesale, American, single daisies (Chi.973
cago)
$ per Ib
1 044
.952
1.030
.968
1.006
1.192
987
1
182
1
138
1 166
1
082
1
164
1 064
1 169
1 119
Condensed and evaporated milk:
1,035.2
97 1
932 5
75 0
77.9
85 8
Production case goods eft
mil Ib
74 6
96 6
76 2
86 6
68 7
74 9
73 3
64 3
73 7
Stocks, manufacturers', case goods, end of month
79.2
104.0
or yearo"
mil. Ib
54.3
60.3
114.7
58.6
58.6
84.2
44 5
57 4
70 9
49 6
105 5
96 6
63 9
Exports:
2
(5)
2
.1
.1
.1
.1
4
.1
1
.1
1.6
(6)
Condensed (sweetened) __ _ _ _ do _
1.8
(5)
3.9
4.4
4.3
40.7
3.9
4.5
4.7
4.9
3.4
Evaporated (unsweetened)
do _
51.6
4.2
4.0
4 2
39
5 4
Fluid milk:
9,967
9,173
115,553 115,458 10,021 10, 121 10818 10,435
9 284
9 588
Production on farms t
do
9 545
9 068
9 248 10 250 10 450
8 8^3
5,389
4,341
60,
821
5,985
5,289
5,510
4,785
4,660
Utilization in mfd. dairy productst _
do
59,
837
6,013
4,322
5 495
4 975
4 042
4*830
T
r
r
r 9.69
2>9 48
'8.23 r 8 60 r 9 22
Price, wholesale, U S. average
$ per 100 Ib
8.33
8.71 r 8.18 f 8.14
10
30
8 03 r 7.97
10
20
9 79 r 9 72
9 99
Dry milk:
Production:
5.2
8.1
63.4
3.4
5.4
Dry whole mllkj
mil. lb_
67.7
3.4
7.4
4.2
6.8
5.5
6.5
7.4
6 7
53
98.7
126.5
1,019. 9 1, 024. 9
111.5
131.4
Nonfat dry milk (human food)J
...do
95.8
76.2
50.3
67.1
53.2
78.4
67.0
71 1
49 3
Stocks, manufacturers', end of period:
6.7
6.4
Dry whole milk
do_ __
5.6
5.0
7.1
4.4
7.5
5.6
6.0
7.3
6.2
7.4
8.7
11 0
36
91.9
134.6
47.1
108.5
111.7
Nonfat dry milk (human food)
do
114 4
119. 2
36.0
47.1
70 3
48 6
55 5
43 3
49 8
36 9
Exports:
2.4
45.2
Dry whole milk.. __
do
35.5
4.6
2 8
3.3
2.3
3.6
2.9
3.4
2.8
2 2
4.4
3 2
2 7
2
10.7
5
13.4
2
Nonfat dry milk (human food)
do
.2
14.5
2
6.7
^90.6
.2
48.9
.2
.6
.3
Price, manufacturers' average selling, nonfat dry
.607
.586
milk (human food)
$ per Ib
.607
.633
.607
.605
.610
.689
620
.646
.705
659
635
643
705
GRAIN AND GRAIN PRODUCTS
173.9
163.2
186.2
Exports (barley, corn, oats, rye, wheat)
mil. bu. 2, 220. 3 2, 528. 4
147.2
254.2
194.7
204.1
205.5
264.6
231.9
209.3
210 7
289 2
Barley:
Production (crop estimate)
do
3 304. 1 3r 383. 0
r
228.0
Stocks (domestic), end of period
. do
134.0
475.1
275. 5
342 3
275. 5
183 8
On farms. _ _
do
125.2
162. 0
4 29 5
162.0
62 8
215 3
98 3
r
H3
5
r H3 5
Off farms
do
102.7
M5 6
127 0
71 2
85 6
.4
1i
3
2.0
Exports, including malt§ _._
do
1.0
56.7
2.8
2.0
31.8
50
34
33
14
2 2
10
Prices, wholesale (Minneapolis):
No. 2, malting
$ per bu
3.51
3.53
3 80
4 20
4 09
3 71
3 92
3 63
3 22
3 42
3 64
3 81
3 04
3 00
2 94
2 96
No. 3, straight. _.
do
3.32
3.40
3 60
3.38
3.05
3 99
3 86
3 67
3 57
3 64
3 26
2 97
3 44
2 78
2 98
2 78
Corn:
Production (crop estimate, grain only) mil. bu 34,663.6 35,767.0
4 431 3
4 359 4 _.
2 §11 8
Stocks (domestic) end of period total
do
1 149 7
3 620 7 4 431 3 2 214 3
4 191 3
On farms
do
3 162 0
2 540' 7 3' 162 0 1*509 4
804 0
1 899 4
Off farms
do
1 080.0 1 269 4
345 7
1 269 4
4 168 2
704 9
912 3
69.2
89.2
Exports, including meal and flour. ._ _ _ do
103.2
81.6
125.2
74.1
133.0
153.1
1, 180. 8 1,321 8
75 3
137.9
129 4
165 6
136 8
Prices, wholesale:
3.04
3.13
No. 3. yellow (Chicago)
$ per bu_.
3.22
3.02
2.92
2.69
2.82
2.76
2.68
2.83
2.91
2.63
2.74
2.97
Weighted avg., selected markets, all grades
2.93
3.15
3.14
do
2.95
2.90
2.86
2.73
2.58
2.57
2.63
2.88
2.88
2.95
2.63
2.70
2.66
Oats:
Production (crop estimate)
mil bu
3 613 8 3 656 9
Stocks (domestic), end of period, total
do
506.6
325.7
* 185. 7
501.1
626.8
501.1
320.3
On farms
do
384.1
235.9
407.0
407.0
4 120. 4
496.1
251.9
94 i
Off farms...
do ""
4 65 3
122 5
94 1
89 9
68 4
130 8
3
7
5
3
4
1
2
2 9
Exports, including oatmeal
do
.4
28
15 5
2 5
30 0
19
2 8
Price, wholesale, No. 2, white (Minneapolis) f
$ per bu._
1.72
1.82
1.66
1.69
1.55
1.63
1.62
1.62
1.67
1.59
1.67
1.65
1.56
1.63
1.68
1.67
r
Revised.
v Preliminary.
i Includes Hawaii; no monthly data
available for Hawaii.
§ Excludes pearl barley.
9 Scattered monthly revisions back to 1971 will be shown later,
2
3
Annual total reflects revisions not distributed to the months.
Crop estimate for the
t Effective March 1975 SURVEY, data are restated to cover different market. Data for earlier
year.
4 previous year's crop; new crop 5not reported until beginning of new crop year
periods
will be shown later.
J Revised monthly data back to 1971 will be shown later.
c
(July for barley and oats; Oct. for corn).
<Less than 50 thousand pounds.
d"Condensed
Corrected.
milk included with evaporated to avoid disclosing operations of individual firms.
SURVEY OF CUERENT BUSINESS
S-28
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
Annual
1976
1975
1975
1974
May 1976
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS-Con.
Rice:
Production (crop estimate)
mil. bags 9-Callfornla mills:
Receipts domestic rough
mil Ib
Shipments from mills, milled rice
do
Stocks, rough and cleaned (cleaned basis), end
of period
mil Ib
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, No. 2, medium grain (Southwest Louisiana)
_--$perlb_.
Rye:
Production (crop estimate)
mil. bu_.
Stocks (domestic) end of period
do
Price, wholesale, No. 2 ( Minneapolis).. $ per bu_.
Wheat:
Production (crop estimate), total
Spring wheat
Winter wheat
Distribution
__.
mil. bu__
do
do
do
Stocks (domestic), end of period, total _ _
do. .
On farms
do
Off farms
_
.. _
. d o
Exports, total, including
Wheat only..
_
flour
_do
do
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
$ per bu__
No. 2, hd. and dk. hd. winter (Kans. City) .do
Weighted avg., selected markets, all grades
$ per bu__
1 112. 4
1 127. 6
1,925
1,359
2,346
1,705
186
136
186
174
237
196
281
241
158
113
64
61
85
63
377
121
201
119
112
155
102
87
130
48
147
144
135
138
166
124
102
67
68
48
40
192
"212
138
116
162
118
7,047
4,816
8,461
5,312
389
546
253
491
136
427
92
357
117
240
945
304
2,462
411
1,548
512
644
411
368
428
378
382
358
407
2,150
4, 711
1,387
556
1,065
464
739
437
429
555
268
248
606
226
1,804
164
2,313
306
2,343
249
2,150
"397
2,010
340
1,868
275
299
.252
.190
.205
.205
.185
.195
.195
.195
.168
.168
.170
.178
.155
.155
.135
.130
i 19.3
12.0
2.99
i 17.9
'9.5
2.78
8.2
2.48
2.74
2.68
25.8
2.47
2.58
2.97
15 7
3.08
2.98
2.83
'9 5
2.72
2.76
2.84
6 0
2.89
2.85
U,796
1406
1 1, 390
1,620
i 2, 134
1483
i 1, 651
1,859
446
335
1, 107. 5 ' 1,384. 5
546.5
446.4
661.2 ••838.0
661.9
273.9
388.0
2 326. 6
2 132. 3
2 194. 3
944.0
919.4
1, 158. 2
1, 134. 5
66.5
65.2
78.2
77.0
'69.3
65.3
79.8
77.2
102.2
99.7
113.5
111.2
127.2
125.5
125.3
123.6
119.2
117.8
93.6
92.3
92.6
91.6
73.3
72.4
77.6
76.4
5.24
4.74
4.60
3.96
4.48
3.78
4.57
3.76
4.41
3.45
4.25
3.40
4.66
4.01
4.88
4.31
4.99
4.36
4.81
4.29
4.57
3.92
4.32
3.79
4.34
3.81
4.57
4.08
4.58
4.01
4.38
3.74
5.53
4.84
4.78
4.94
4.96
4.39
4.69
5.08
5.01
5.10
4.64
4.29
4.35
4.51
4.49
4.21
247, 080
4,485
555, 891
19,054
349
42,833
20,599
378
46,375
20,361
371
45,718
19, 631
361
44, 375
21,156
384
47,430
21,705
398
49,017
22,681
409
51,162
24,129
432
54,067
20, 113
360
45, 241
20,532 ' 21,034
368
'374
46,000 ' 47,204
19, 891
352
44, 674
21, 881
387
49, 110
3,907
10, 178
4,755
577
516
1,718
4,434
1,119
1,084
999
4,140
753
735
588
3,907
555
423
379
4,510
525
10. 552
9.365
10. 388
9.125
10. 363
8.975
9.863
8.550
9.550
8.088
10. 213
8.938
10.513
9.363
11. 238
10. 213
11.163
10.113
10. 675
9.650
10. 150
8.988
10. 150
8.963
10. 213
9.350
10.713
9.563
' 3, 894
"36,904
276
2,826
284
2,889
270
2,851
276
344
2,898 ••3,085
345
3,141
385
3,319
443
3,584
'357
3,116
381
3,267
369
3,403
327
3,032
415
3,492
44.61
33.42
3 34. 38
36.08
27.86
38.00
42.80
30.73
37.00
49.48
34.87
37.00
51.82
33.52
31.50
50.21
30.69
46.80
32.93
28.50
48.91
35.98
47.90
36.74
45.23
36.77
30.00
45.01
37.79
41.18
36.66
38.80
36.95
36.14
38.82
5,751
6,361
' 5, 375
5,077 ' 4, 657
4,627
5,217
5,379
'5,085
5,508
5,400
4,873
6,325
39.22
40.32
45.78
50.28
55.70
56.80
61.19
58.76
49.78
48.36
48.23
48.92
46.76
48.06
14.3
14.7
17.0
17.6
19.9
19.0
21.2
22.1
21.0
20.0
19.5
19.3
18.2
19.1
1,788
3,801
Wheat flour:
Production:
Flour
thous. sacks (100 Ib.)
242, 157
Offal
thous. sh. tons__
4,323
Grindings of wheat
thous. bu
542, 904
Stocks held by mills, end of period
thous. sacks (lOOlb.)..
4,499
Exports
do
10, 563
Prices, wholesale:
Spring, standard patent (Minneapolis)
$ per 100 lb_. 11. 887
Wlnter, hard, 95% patent (Kans. C i t y ) _ _ d o _ _ _ . 11. 059
c
* 1, 459
507
571
'1,384. 5
546 5
'838 0
1,891.1
762.1
1 129 0
937.7
343 8
593.9
10.250
9.063
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
_____
thous. animals
2,355
Cattle
do
33, 319
Prices, wholesale:
Beef steers (Omaha) f...$ per 100 lb._ 41.89
Steers, stockerand feeder (Kansas City)__do
36.49
Calves, vealers (Natl. Stockyards, Ill.)__do
46.19
Hogs:
Slaughter (federally inspected). .-thous. animals.. 77,071 »• 64, 926
Prices:
Wholesale, average, all grades (Sioux City)
$ per 100 lb._ 34.75
47.65
Hog-corn price ratio (bu. of corn equal in value
to 100 Ib. live hog) _ _
* 17.0
U2.2
Sheep and lambs:
Slaughter (federally Inspected). __thous. anlmals..
8,556 r 7, 552
Prlce, wholesale, lambs, average (Omaha)
$per lOOlb..
44.68
39.76
648
627
'616
614
635
621
758
701
515
584
582
513
570
45.12
48.88
50.75
46.12
45.00
41.00
44.12
44.00
45.00
48.13
49.33
47.75
51.25
43.12
43.49
60.75
MEATS
Total meats:
Production (carcass weight, leaf lard in) , inspected
slaughter t
mil. lb._
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:
Production, Inspected slaughtert
do
Stocks, cold storage, end of period
do
Exports__
do
Imports
do. .
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs.) (East Coast)
$ per Ib
Lamb and mutton:
Production, inspected slaughter
Stocks, cold storage, end of period
mil. lb__
do
36,330
34, 572
2,845
2,966
2,751
2,704
2,697
2,716
2,940
3,164
2,846
3,011
3,128
2,780
3,399
803
714
1,634
675
864
1,694
'787
75
145
801
65
125
726
79
111
654
64
135
578
70
148
518
77
149
518
73
157
571
76
135
668
79
168
675
82
112
672
85
175
'677
93
117
730
114
173
21, 222
415
53
1,191
22, 118
360
46
1,304
1,762
397
3
110
1,762
360
4
91
1,728
319
3
80
1,733
297
2
107
1,802
277
2
113
1,841
267
3
122
1,938
262
2
126
2,126
281
5
99
1,842
330
7
133
1,922
360
7
79
2,072
362
7
132
1,848
'372
6
88
2,193
407
7
138
.691
.760
.611
.826
.821
.880
.849
.801
.824
.791
.764
.757
.700
.651
.603
440
14
386
12
34
9
32
10
30
9
30
7
31
9
31
10
38
11
36
11
27
12
31
12
32
11
28
11
32
9
Pork (including lard), production, inspected
1,172
992
12, 068
1,049
slaughtert
mil. lb._ 14, 668
r
Revised.
i Crop estimate for the year.
2 pr jvious yea r's crop; n ew crop not repor
ted
4
Efuntil July (beginning of new crop year) .
3 Averagefor Jan.--June, Au g., and >>Fov.
fective with June 1975 SURVEY, average represents ' 'market" year (De 3.-NOV.)
s Ma y i
.693
1,174
1,024
903
977
1,058
1,002
864
942
845
963
9 Bags of 100 11DS.
t 1Effective Septeml:)er 1975 £5UBVEY, data are
estinuite of 1976 crop,
b e shown
restat 3d to cov er differ 3nt price (900-1100 Ibs. only). Dat a for earller perio<is will
c
Cc rrected.
later.
}Sca itered memthly re visions b ackto!97 1 are avaliable up on reques t.
May 1976
SURVEY
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1974
OF CUEEENT BUSINESS
1975
1975
Annual
S-29
Mar.
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
MEATS— Continued
Pork (excluding lard) :
Production inspected slaughter mil. Ib
Stocks, cold storage, end of period
do
Exports
-- -do
Imports
do
Prices, wholesale:
Hams, smoked composite
$perlb..
Fresh loins, 8-14 Ib. average (New York). _ do
307
104
362
10, 724
249
207
327
922
289
24
31
1,043
345
10
29
876
324
13
26
842
284
19
23
773
230
23
28
755
186
22
20
861
190
19
26
896
222
17
30
864
269
19
28
943
249
22
27
906
236
17
36
2.678
.786
.882
.991
.743
.798
.716
.816
.787
.948
.801
.994
.859
1.122
.953
1.079
.974
1.170
1.103
1.177
1.060
1.134
1.109
1.016
12, 856
POULTRY AND EGGS
Poultry:
Slaughter (commercial production)
mil. lb__ 10, 706
Stocks, cold storage (frozen), end of period, total
mil. Ib..
456
Turkeys
do
275
Price, in o'eorgia producing area, live broilers
6.211
$perlb__
Eggs:
Production on farms
. .mil. cases O-. 6 183. 6
Stocks , cold storage, end of period:
36
Shell
thous. casesO..
Frozen
. . mil. lb_.
54
Price, wholesale, large (delivered; Chicago)t
$ per doz._
.598
811
27
23
1 049
249
38
28
.905
1.069
.840
1.028
.861
.986
r 222
.846
.980
10, 434
736
825
831
884
967
942
978
1,067
834
914
857
758
912
314
195
367
207
340
180
316
163
345
193
392
249
470
328
542
410
600
472
406
286
314
195
300
187
269
Ifift
250
140
238
r . 269
'.235
.235
'.255
•-.290
'.310
'.305
'.300
'.290
'.280
.250
.240
.255
.255
.240
178. 8
15.3
14.7
15.1
14.5
15.0
15.0
14.6
15.1
14.8
15 2
15 3
14 4
15 4
22
36
32
47
26
43
68
45
82
48
84
52
80
52
72
51
55
47
40
42
22
36
13
32
21
29
r 9Q
'26
24
.594
.607
.516
.513
.517
.539
.597
.633
.591
.668
.738
.709
.642
.595
.586
233 0
759
21 7
17 9
755
17 4
595
18 7
625
16 6
12 5
17.4
775
21.5
775
18.6
.685
33.0
.760
33.9
.735
16.4
.755
28.8
.740
'3 556
!8 551
2 673
4*713
19, 248
2 725
.702
2 771
20, 289
3 748
1
678
2 830
1 535
mil Ib
433
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
6
6
-lie
9Q
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans:
Imports (incl shells)
thous Ig tons
Coffee (green):
Inventories (roasters', Importers', dealers'), end
of period
thous bagscf
Ro&stlngs (green weight)
do
Deliveries, total 9
For domestic consumption
Stocks raw and ref end of period
r
7Qft
780
3,604
5,650
' 3, 556
' 4, 626
3,851
4,743
2 872
4 469
1,365
244
1 736
473
1 626
418
1 868
391
2,533
543
1,784
123
1,587
141
1,299
195
1,664
294
1,744
146
2,311
176
221
207
20°
183
ifia
245
300
316
251
241
259
'270
282
356
336
305
305
296
307
307
314
335
351
356
334
4,620
6,895
1,150
5 153
183
191
195
107
92
119
164
789
1,138
1,263
862
11, 273
11 237
2 800
10 133
9 ggo
2 712
693
684
2 836
832
809
2 521
870
852
2 299
961
932
1 946
1 205
1 174
1 275
1 005
996
1 032
936
930
958
916
909
1 415
767
759
2 088
883
875
2,712
769
760
3,171
sh. tons-- 62, 734
205 989
2 516
21 325
17, 648
27 288
48 067
17 501
27, 250
20, 814
9,707
8,789
5,972
7,860
6,797
c 221
62
5
300
54
4
223
2
3
450
403
3
o
1
289
c 28
1
596
75
9
432
118
33
201
21
61
225
2
24
220
0
4
287
28
32
253
30
5
229
300
282
195
148
194
225
.175
152
.155
.156
.154
.150
.164
1 986
.311
2 67g
.410
1.352
.203
.221
do
do
do
.
Imports:
Raw sugar, total 9
From the Philippines
Refined sugar total
thous. sh. tons
do
do
Tea, imports
3 003
18, 569
84-8
1 448
277
Exports, raw and refined
Prices (New York):
Raw wholesale
Refined:
Retail (incl N E New Jersey)
Wholesale (excl. excise tax).-
982
331
Imports, total
..
do...
From Brazil
do
Price, wholesale, Santos, No. 4 (N.Y.) $ per Ib
Fish:
Stocks cold storage end of period /\
221 1
$ per Ib
$ per 5 Ib
-_-$perlb-.
thous Ib
3 5, 774
1 414
(4)
289
1 680
.320
(5)
(5)
c
3 690
c 415
148
3 178, 326 c 159 287
o
c
481
778
774
' 3, 201 P 2,959
2 285
.361
2 061
.319
1 650
.259
1 470
.268
1 726
.283
1.611
.232
1 574
.205
1.419
.207
1.383
.194
1.347
.209
15 486 c!3 468
14, 694
12 170
9 915
11 276
12, 404
17, 594
13, 940
11, 843
11,842
12, 309
15,779
210
.210
FATS, OILS, AND RELATED PRODUCTS
Baking or frying fats (Incl. shortening):
Production J
.mil. Ib
3, 702. 8
Stocks, end of period®
do
134 1
Salad or cooking oils:
4 110 6
Production^
do
96.5
Stocks, end of period©
do_
Margarine:
Production J
do
2, 397. 7
Stocks, end of period©
do
64 3
Price, wholesale (colored; mfr. to wholesaler or
.512
large retailer; delivered)
$ per lb-_
Animal and flsh fats:
Tallow, edible:
Production (Quantities rendered) t
mil Ib
Consumption in end products*
do
Stocks, end of period 1
do
Tallow and grease (except wool), inedible:
Production (quantities rendered) %
do
Consumption in end products!
do
Stocks, end of neriod 1f _
do
3 712 6
124 7
280 4
117 0
307 9
121 1
288.9
112.9
268 9
113 7
285 1
103 0
299 6
88 7
331.2
93.0
402.8
100 2
337.1
105 6
332.3
124.7
331.2
114.5
'r 307. 6
119. 7
364.5
110.3
3 964 3
90 8
319 2
93 9
322 2
97 6
316.5
95.1
326 3
76 9
345 4
79 4
344 2
71 8
330.4
73.3
368 7
89.1
326 2
104.5
324.5
90.8
341.9
87.0
r
r
328. 7
104. 4
392.3
99.9
2 399 3
60 1
198 7
65 8
181.7
75 8
183.0
64.4
180 6
63 6
173 7
66 6
178 7
52 6
216.6
58.6
212.8
60 2
219.7
64 8
241.6
60 1
265.1 ' 259. 6
r
66.9
82. 1
225.8
101.1
.525
.576
.544
.502
.494
.486
.486
.503
.490
.490
.490
575 8
665.0
33 4
512 9
649 7
37 8
54 2
69 1
32 1
46 8
68.9
25 7
40 8
55.9
23 7
35 3
44.3
22 2
33 g
46 1
22 1
34 6
44 8
24 2
36 2
49.6
23 9
42 1
57.2
24 5
37 7
43.2
33 4
42 6
45.3
37 8
5, 526. 6
3 029 2
380. 3
4 651 5
2 908 4
276. fi
433 0
234 8
327. 6
405.2
238 0
318. 0
371.5
237 4
288.5
358 3
939 6
242. 5
354 5
230 7
256. 2
347 2
236 2
257. 4
363.9
250 7
308. 0
397 3
277 1
283.2
350.5
228 3
288.1
420.6
249 4
276.6
r
l
2
Revised.
* Preliminary.
Average for Jan. and Feb.
Because of a change in
specification, effective June 1974, prices are not comparable with those for earlier periods;
the
1974
average
is
for
7
mos.
(June-Dec.).
3
Reflects
revisions
not
available by months.
4
Less than 500 sh. tons.
» Series discontinued.
« Effective with June 1975 SURVEY,
average representsc "market" year (Dec.-Nov.).
A Monthly revisions for Jan.-Aug. 1974
are available.
Corrected.
.448
.436
.431
43 1
49.6
38 1
'41 6
'50.3
'43 0
52 9
54.7
44 8
442.5 r 410. 2
259 4 r 257 2
275.1 r 282. 2
454.8
279 5
301. 9
r
.431
O Cases of 30 dozen.
cf Bags of 132.276 Ib.
§Monthly data reflect cumulative revisions
for prior periods.
9Includes data not shown separately: see also note "§".
©Producers' and warehouse stocks.
^[Factory and warehouse stocks.
-[Beginning June 1974
SURVEY, prices are for cartoned, white, shell eggs to volume buyers, delivered to store door,
Chicago metropolitan area, and are not comparable with those shown previously. Comparable
data back to 1969 are available.
{Monthly revisions back to 1972 will be shown later.
SURVEY OF CURRENT BUSINESS
S-30
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1975
Annual
May 1976
1975
Mar.
Apr.
June
May
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
'63.7
'78.4
'39.0
142.9
79.6
88.8
34.1
64.5
••39.3
43.9
39. 1
51.3
41.5
41.1
39.3
55.3
r 111 2
100 6
91.6
52.1
209.8
51.8
.323
Mar.
Apr.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
FATS, OILS, AND RELATED
PRODUCTS- Continued
Vegetable oils and related products:
Coconut oil:
Production, rennedtmil. Ib
Consumption in end products:):
do
Stocks, refined, end of period t§ ..
do
Imports
. -_
__ do
Corn oil:
Production: Crude _ _
_
Refined
Consumption in end products!
Stocks, crude and ref., end of period^
540.1
726.0
26.6
542.3
716.1
865.3
26.7
869.1
49.9
68.1
22.6
70.0
53.4
70 7
33 9
53.4
56 1
67 7
27 6
90.8
60.0
71 8
26.9
27.6
59
61
29
38
3
8
4
2
61.4
75.2
28.0
64.6
66.1
81.1
28.6
76.3
77.0
87.8
36.3
101.6
68.4
78.5
35.1
178.5
68.2
76.8
26.7
80.4
70.9
80.3
36.6
100.7
518.3
500.7
473.0
52.6
458.8
502.6
475.5
39.5
38.6
43.0
38.1
63.8
37.6
38 9
35 4
71 0
40
38
34
85
6
0
8
6
38.9
41 0
37 9
90.3
40
38
38
87
5
7
0
5
35.2
39 5
39 5
65.3
40.3
46.4
42.6
52.4
39.8
51.1
47.8
48.4
40.3
46.4
41.0
43.2
35.4
44.5
40.7
39.5
43.1
44.7
44.0
46.5
1, 512. 7
1, 262. 7
832.4
177.4
606.1
.410
1, 215. 0
1,112.6
660.7
160.3
656.5
.322
143 4
117.0
58.1
188.1
96.6
.315
111 6
109 0
56.0
207.9
56.8
305
105 8
102 4
66.7
173 1
92.6
.265
84 1
93 0
53.8
164.0
17.8
265
72 3
74 0
56.8
146 2
69 7
348
76 1
68 0
49.6
126 5
43.7
378
56 1
73.1
46.7
136.1
28.9
.343
76.3
53.6
51.0
125.5
21.3
.323
101. 0
75.5
50.0
153.1
46.7
.293
103 2
97 1
53.6
160.3
36.7
278
118.1
99.6
45.0
159.7
76.2
.298
1,209.3 1,355.1
383.8
359 4
1,475.6
368 3
-do _
do
do
do ..
Cottonseed oil:
Production* Crude
do
Refined
do
Consumption in end products^
do
Stocks crude and ref. end of period If
do
Exports (crude and refined)
do
Price wholesale ( N Y )
$ per Ib
Soybean cake and meal:
Production
thous. sh. tons.. 18, 543. 2
496.7
Stocks (at oil mills), end of period
do
Soybean oil:
Production: Crude
mil. Ib
Refined!
do
Consumption in end products^
do
Stocks, crude and ref. end of period If.. do
Exports (crude and refined)
do
Price, wholesale (refined; N.Y.)
$ per lb_.
16,915.8 1,379.5 1,313.9 It 190- 7
341.7
438.4
524.9
410 8
8, 704. 9 7, 861. 4
6, 811. 5 6, 422. 5
7, 039. 0 6, 830. 3
673.6
799.9
1,606.7
758.0
.366
.286
1,289.9 1,645.2
354.7
318.8
T
r
r
89.6
M8.3
r
184. 1
49.3
.318
.298
1,642.1 1,752.8 1,689.8 '1,562.8 1, 758. 9
351.5 ' 388. 3 328.5
407.3 341.7
632.4
497 1
528.2
647.4
116.1
.301
600.9
497 0
540.3
662.2
57.6
.296
557 6
467 9
527 4
606 7
72.9
.248
557.8
489 6
531.3
530.6
55.7
.243
623.9
509 3
555 3
544.3
65.3
.304
674 5
550 9
562 8
567 1
13.1
.340
599.8
538.3
604.8
560.6
13.5
.285
783.9
666.9
672.0
568.0
43.8
.266
776.7
617.3
609.2
657.7
78.9
.243
846.7
604.6
624.4
799.9
40.4
.226
«• 3, 944
32 073
28 566
23 202
26 390
39 452
25 082
4,312
44, 862
25 229
52, 676
21 888
73, 908
28 403
4 738
62 858
18 168
5 667
46, 301
347
4 170
5 239
50 378
371
5 294
5 632
52, 750
389
4 104
6,383
58, 923
448
5 371
5 293 5
48 Oil 42
348
4 165 4
807.4 rr 757. 6
849.9
611.9
558. 7 , 646.5
688.4
658.0 r 617. 6
949.4
844.8 » 913. 2
89.6
32.6
120.2
.224
.222
.220
.219
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
millions
do
do
do
1
1, 990
r
1
2,184
4, 461
651,415
2
299,946
4,738
563, 005
320, 318
p
4, 315
52, 483
33 694
46, 669
26 144
44, 172
27 805
59, 272
576, 173
5,009
46, 901
62, 279
588, 345
4,474
r
49 895
4 942
43 968
372
r
4 855
4,547
51, 838
394
3 313
4 464 4
49 171 49
397
3 623 3
803
477
417
357
93, 233
28 373
51,972
32 314
4,568
47, 077
27, 338
6,009
51,921
319
3 906
6,297
51, 025
288
6,350
6,402
58, 806
363
4,910
28 115 34 804
209
195
1 753 2 172
28, 296
151
1,658
42, 391
247
2,407
424
678
286
559
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value, total 9 _ .
_
thous $
Calf and kip skins
thous skins
Cattle hides
thous hides
Imports:
Value, total 9 .
Sheep and lamb skins
Goat and kid skins
thous $
thous pieces
do
Prices, wholesale, f.o.b. shipping point:
Calfskins, packer, heavy, 9H/15 Ib
Hides, steer, heavy, native, over 53 Ib
296, 279
2 403
21 269
24 519
236
1 989
25 093
174
2 045
24 553
230
1 834
77 500
15 732
583
78 100
15 520
879
5 800
1 615
119
6 100
1 603
62
5 100
1 162
46
6 300
1 024
56
7 900
1 668
60
6 200
1 096
72
7 000
1 372
106
7 900
1 311
54
9 000
1 145
32
6 500
849
123
6 000
929
116
6,000
959
137
2,973
201
350
.234
285
163
285
275
500
253
258
350
253
350
253
350
258
350
280
350
308
450
.263
550
.315
.550
.298
.300
148 565 2 184 104
13 574
14 624
16 735
18 473
13 341
16 979
14 714
17 131
16 737
12 909
14 517
17 367
18, 157
151 1
130 9
142 4
146 7
146 7
146 7
163 9
166 8
182 6
182 6
182 6
182.6
189.8
452 955 r433 631
32 122
33 856
33 745
35 786
r
34 130 38 322 39 908
45 446
36 715
37 395
41 291
40 270
355 147 r350
281
85 502 r 68 526
9 890 ••11
357
r
o 416
3 467
25 775
5 113
924
310
27 002
5 637
923
294
26 196
6 330
974
245
28 581
6 090
870
245
28 829 30 485 32 047 35 859
4 338 6 446 6 447 8 059
982
1 191
713 1 053
338
432
250
337
3 9^3
2 4 332
402
464
442
406
373
363
349
450
375
369
369
451
155.1
165 0
162 1
164 6
164 6
164 6
164 6
164 6
168 1
168 1
168 1
168.1
170.5
173.6
175.9
177.1
144 0
127.8
151 8
5 133. 5
150 5
150 5
150 5
150 5
150 5
150 5
154 3
154 3
154 3
154.3
135.9
156.8
135.9
156.8
135.9
160.0
135.9
161.3
138.8
$ per Ib
do
644
.231
LEATHER
Production:
Calf and whole kip
_ _ _ _ thous. skins
Cattle hide and side kip-- thous. hides and kips
Goat and kid
_ _
thous. skins
Sheep and lamb
do
16 824
Exports:
Upper and lining leather
thous sq ft
Prices, wholesale, f.o.b. tannery:
Sole, bends, light
... index, 1967— 100
Upper, chrome calf, B and C grades
index, 1967=100
23 361 22 532 22 965 25 782 24 921
284
115
166
'l59
193
1 719 1 551 1 548 1 714 1 678
339 062
2 163
18 428
3
28 968
197
1 965
.800
.349
13 889
158 8
4
194.1
LEATHER MANUFACTURES
Shoes and slippers:
Production total
thous pairs
Shoes, sandals, and play shoes, except athletic
thous pairs
Slippers
do
Athletic
do
Other footwear
do
Exports
do
Prices, wholesale f.o.b. factory:
Men's and boys' oxfords, dress, elk or side
upper, Goodyear welt
index, 1967=100
Women's oxfords, elk side upper, Goodyear
welt. _ _ _ .
index, 1967=100
Women's pumps, low-medium quality. __do
r
2
Revised.
1 Crop estimate for the year,
Annual total reflects revisions not distributed to the monthly data.
3
6
Average for Jan.-May and July-Dec.
< Jan-June and Aug.-Dec.
Jan., Feb., and
Dec.
r
29 447 r 32 332
6 017 »"3 882
'945
rQSl
r
270
236
34 998 33, 663
5,386
5 005
970
1 055
251
233
587
9 Includes data for items not shown separately.
U Factory and warehouse stocks.
§ Effective Oct. 1974 SURVEY, data are restated to exclude stocks of crude coconut oil; comparable data prior to Aug. 1973 will be shown later,
t Monthly revisions back to 1972 will be shown later.
SURVEY OF CURRENT BUSINESS
May 1976
1975
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
Annual
S-31
1975
Mar.
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
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
1
34,463
6,904
27, 559
1
31, 851
5,506
26, 345
2,480
395
2,085
2,779
428
2,351
2,849
435
2,414
2,814
492
2,322
2,797
471
2,326
2,914
511
2,403
2,986
489
2,497
3,147
511
2,636
2,530
498
2,032
2,500
446
2,054
2,821
451
2,370
2,804
513
2,291
133,811
6,583
27, 228
1
32, 125
5,443
26, 682
2,507
389
2,118
2,843
443
2,400
2,820
456
2,364
2,739
459
2,280
2,820
444
2,376
2,851
505
2,346
3,061
510
2,551
3,097
516
2,581
2,689
514
2,175
2,647
433
2,214
2,762
463
2,299
2,790
521
2,269
5,109
780
4,329
4,835
843
3,992
5,064
842
4,222
5,000
827
4,173
5,052
806
4,246
5,124
836
4,288
5,101
863
4,238
5,165
870
4,295
5,090
849
4,241
5,140
844
4,296
4,982
829
4,153
4,835
843
3,992
4,894
831
4,063
4,926
823
4,103
1,668
7,249
1,643
5,968
233
536
130
571
113
589
125
671
155
677
151
431
142
422
126
388
131
415
131
552
132
477
147
527
139
627
7,367
316
7,651
550
728
543
635
567
598
462
674
509
682
581
551
532
724
549
693
551
642
592
559
550
721
601
660
638
761
654
Stocks (gross) mill, end of period, total, do
Hardwoods
_ _ _ do
Softwoods
_ _ _ _
do...
Exports total sawmill products
do
Imports, total sawmill products . . . do
SOFTWOODS
Douglas fir:
Orders new
Orders unfilled, end of period
mil. bd. ft
do
Production.
_
Shipments
Stocks (gross) mill, end of period
do
do
do
7,777
7,730
982
7,338
7,417
903
608
628
1,008
599
611
996
684
703
977
654
627
1,004
590
610
984
619
600
1,003
715
707
1,011
688
691
1,008
548
601
955
549
601
903
711
670
944
666
623
987
756
745
998
Exports total sawmill products
Sawed timber
Boards, planks, scantlings, etc
do
do
do
598
158
440
505
125
398
45
11
34
52
14
38
32
g
24
38
11
27
53
11
43
55
15
40
44
13
31
35
9
26
46
10
36
50
11
39
48
20
28
41
8
33
38
8
30
158. 84
158. 88
147. 29
156. 60
169. 67
161. 54
165. 47
169. 76
166. 79
160.09
157. 56
166. 40
175. 43
178. 29
184. 90
i 6, 699
344
1
7, 074
453
599
431
629
427
533
403
569
401
627
391
647
408
583
381
709
378
638
405
620
453
593
453
623
478
* 6, 921
6, 960
i1 6, 790
6, 965
549
551
615
633
606
557
586
571
615
637
609
630
599
610
700
712
584
611
538
572
636
593
583
598
Prices, wholesale:
Dimension, construction, dried, 1" x 4", R. L.
$ p e r M bd. ft..
Southern pine:
Orders, new
Orders unfilled end of period
mil. bd. ft
do
Production
Shipments
do
do
1
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.
1967=100..
Flooring, C and better, F. G., 1" x 4", S. L.d"
1967=100..
Western pine:
Orders, new
Orders, unfilled, end of period
mil bd ft
do
1,309
1,134
1 215
1 197
1,246
1,261
1,239
1,218
1,207
1,195
1,168
1,134
1,177
1,162
76, 276
67, 502
3,115
7,593
5,244
5,175
6,414
3,930
7,595
4,699
7,445
9,591
8,576
11, 346
14, 241
188.4
166.6
150.8
160.5
174.0
174.7
174.5
170.8
171.5
171.4
176.5
182.0
190.5
198.6
217.7
217.7
229.2
226.9
230.7
230.7
231.8
230.7
225.2
225.2
225.2
220.9
222.0
223.0
227.4
228.5
231.8
231.8
8,788
392
8,867
538
663
496
791
523
720
470
748
484
869
546
740
513
936
560
838
542
725
559
743
538
751
584
725
578
830
530
Production
Shipments
do
do
8,973
8,952
8,599
8,721
612
608
753
764
794
773
735
734
805
807
823
773
852
889
895
856
654
708
706
764
695
705
715
731
886
878
Stocks (gross) mill, end of period
do
1,344
1,222
1 273
1 262
1 283
1,284
1 282
1 332
1,295
1,334
1,280
1 222
1,212
1,196
1,204
151. 38
131. 97
150 35
154. 31
173 62
170. 71
145 95
141 17
131. 78
128 87
127. 30
154. 01
177. 50
198. 52
108.3
2.5
123.9
104.2
4.5
93.8
8.6
4.9
91
4 5
80
38
7.6
3.2
86
29
9 3
2.6
8.0
3.0
9.4
3.3
8.3
4.4
8.8
4.5
12.6
6.7
8.4
5.4
4.6
108.5
19.2
98.8
12.5
7.1
8.2
16.3
89
9 4
15 4
85
8.3
15 7
80
8.1
14 9
9 2
8.2
15 9
8.4
9.0
15 4
7.9
7.4
15.8
8.5
8.7
15.7
6.2
7.2
14.7
7.0
8.3
12.5
8.0
10.4
10.2
8.4
9.2
9.6
9.5
8.2
11.0
Price, wholesale, Ponderosa, boards, No. 3,1" x
12", R. L. (6' and over)
$ per M bd ft
180. 05
209. 92
HARDWOOD FLOORING
Oak:
Orders, new
Orders, unfilled, end of period
mil bd ft
do
Production
Shipments
Stocks (gross), mill, end of period
do
do
do
8 2
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
thous sh tons
Scrap
do
Pig iron.. .
_
do
Imports:
Steel mill products
Scrap -—
Pig iron .
.
5 833
8 696
101
2 953
9 608
60
282
779
10
270
871
13
1 065
Q
256
1 005
4
264
843
2
271
809
2
202
771
3
228
657
4
185
757
4
182
646
3
150
676
6
177
654
4
212
600
4
15 970
246
355
12,012
373
494
1 153
20
35
959
27
92
856
27
47
927
55
9
805
53
31
748
28
27
697
34
29
818
32
53
903
21
51
1 153
37
33
1,007
77
44
966
26
44
1,034
33
31
55 250 i 45, 942
51 335 1 36, 728
1105
483 i 82 177
1
8 860
8 408
4 376
3 635
8 169
7 431
4 231
3 428
7 488
7 559
4 000
3 219
6 879
7 920
3 664
3 008
6 324
8 279
3 411
2 443
5 748
8 403
3 581
2 421
6 135
8 243
3 792
3 017
6 703
8 415
3 912
3 292
6 815
8 791
3 388
2 808
6 212
8 792
3,505
2,725
6 133
8 860
3, 758
2, 836
6 836
8 489
p 3, 796
p 3, 166
P 6, 863
v 8, 551
do
_. _ do
do
___.
9gg
Iron and Steel ScrapH
Production
Receipts, net
Consumption
Stocks, end of period
thous. sh. tons
do
do
do
Prices, steel scrap, No. 1 heavy melting:
Composite (5 markets)
$ perlg. ton..
Pittsbureh district
.
do
1
1
106. 22
70.83
80.47
82.06
82.35
104.20
72.50
84.50
82.50
81. 50
T
l
Revised.
* Preliminary.
Annual data; monthly revisions are not available.
9 Totals include data for types of lumber not shown separately. tf Through March
1971 data are for flooring, B and better, F.G., I" x 4", S.L., beginning April 1971, they are
for flooring, C and better, F.G., I" x I", S.L.
r
r
r
r
80.98
87.75
72.09
65.14
59.12
60.42
63.54
68.61
56.04 64.89 74.34
93.00
86.00
80.50
61.50
64.00
74.50
69.00
5fi 50 65.50
77.50
63.00
If Effective with 1974 annual and Jan. 1975 monthly figures, data reflect expanded sample,
and exclusion of direct-reduced (prereduced) iron, previously included in scrap series.
S-32
SURVEY OF CURRENT BUSINESS
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
|
1975
1975
Mar.
Annual
May 1976
Apr.
May
June
July
1976
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):
Mine production
thous Ig tons
Shipments from mines
do
Imports
.
_ _ _ _ - __ __
do
i 84, 676
i 85, 256
48, 029
80, 316
76, 561
46, 742
5,823
2,437
2,975
6,619
5,906
4,019
8,005
8,454
4,027
8,023
9,455
4,738
7,682
9,070
4,692
8,013
9,116
3,472
7,471
7,645
4,534
6,160
6,850
4,226
5,765
5,796
3,062
5,801
5,277
4,039
5,413
2,578
2,703
5,459
1,812
1,645
2,022
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, 306
129, 078
2,323
112, 718
106, 230
2,538
5,684
10, 672
95
8,944
9,781
152
12, 989
9,182
297
12, 583
8,531
232
12,495
7,825
232
11, 342
7,949
192
10, 118
8,419
300
9,423
8,279
395
8,571
7,958
333
8,375
8,326
203
3,916
8,849
1
4,111
8,923
2
4,690
10,063
21
do
do
do
do
57, 662
9,143
45, 247
3,272
68, 113
11, 268
52, 231
4,614
52, 877 52, 299
16,809 17,444
33, 480 32,644
2,588 2,211
55, 750
17, 014
36, 450
2,286
57, 594
14, 299
40,527
2,768
61, 166 63, 855
12, 916 11,723
45, 197 48, 676
3,053 3,456
66, 095
11, 549
50, 376
4,170
66,600
10, 859
51, 521
4,220
67, 265
10, 786
52, 133
4,346
68, 113
11, 268
52, 231
4,614
66, 855 65, 351
14, 696 18, 418
47, 298 42, 485
4,861 4,448
37, 181
3,911
do
851
1,033
108
138
116
84
77
88
51
112
43
98
Pig Iron:
Production (excluding production of ferroalloys) 1
thous. sh. tons.. 95, 909 79, 923
Consumption
-do
i 96, 792 i 79, 654
Stocks, end of period
do
1,427
1763
8,071
8,050
766
7,432
7,398
828
6,990
6,915
886
6,239
6,236
944
5,968
5,884
1,059
6,031
6,049
1,120
6,245
6,286
1,300
6,292
6,298
1,333
5,981
5,958
1,387
Stocks, total, end of period.At mines
At furnace yards
At U.S. docks
..
_ _
_.
Manganese (mn . content) , general Imports
101
39
83
Pig Iron and Iron Products
Price, basic furnace 1f
$ per sh. ton..
Castlngs, gray Iron:
Orders, unfilled, for sale, end of period
thous. sh. tons_.
Shlpments, total.
_ _
do
For sale
do
Castings, malleable Iron:
Orders, unfilled, for sale, end of period
thous. sh.tons
Shipments, total
do
For sale.. _
do
6,234 6,636 6,754
6,210 ' 6, 664 *>6,773
1,427 ••1,438 "1,463
7,519
7,601
182. 38
182. 38
182. 38
182. 38
994
'960
934 * 1, 060
507
463
959
1,133
548
122. 61
181. 76
179.88
182. 38
182. 38
182. 38
182. 38
182. 38
182. 38
182. 38
182. 38
1,416
15, 661
8,664
994
12, 445
6,435
1,393
1,084
567
1,249
1,144
575
1,137
1,048
535
1,094
1,019
512
1,105
858
459
1,096
972
526
1,006
1,106
577
969
1,202
614
902
1,003
496
133
912
553
64
730
430
103
55
34
91
63
37
87
62
36
81
61
35
80
50
29
81
57
36
72
66
39
72
73
44
69
59
35
64
59
35
66
65
'38
71
66
37
11, 980
10, 667
9,864
8,744
8,370
8,648
9,295
9,214
8,709
8,846
9,835
74.4
9,907
80.1
1,295
181
146
1,232
183
147
1,133
174
138
1,081
165
132
1,034
132
106
957
126
103
881
161
128
831
176
143
786
145
119
748
142
122
'691
rl58
r!33
636
155
131
6,178
182. 38
Steel, Raw and Semifinished
Steel (raw) :
Production
thous. sh. tons.. 1 145,720 1 116,642
Rate of capability utilization*
percent..
176.2
Steel castings:
Orders, unfilled, for sale, end of period
thous. sh. tons_.
1,527
748
Shipments, total
do
2,091
1,927
For sale, total. _ _
do
1,739
1,575
11, 294 "1 1.439
85.4 ^88.4
Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous sh
By product:
Semifinished products
Structural shapes (heavy), steel piling
Plates
Rails and accessories
i 109,472
79, 957
7,204
6,955
6,394
5,757
6,327
7,632
6,377
5,703
6,071
7,246
6,840
8,259
do
do
do
do
5,509
7,210
10, 919
1,785
3,910
5,121
8,761
1,965
374
594
939
175
330
566
904
184
319
446
859
184
292
381
705
172
279
343
643
171
291
380
618
146
351
412
685
157
324
325
589
152
284
297
516
146
296
319
559
152
317
307
552
160
360
319
550
156
417
389
652
176
Bars and tool steel, total
Bars: Hot rolled (incl. light shapes)
Reinforcing
Cold
finished
do
do
do
do
i 18,514
11, 061
i 5, 089
2,251
13, 367
8,146
3,666
1,486
1,278
801
321
149
1,197
737
309
145
1,089
648
310
126
990
579
293
113
944
532
310
98
1,034
610
320
99
1,231
776
331
119
1,038
585
342
104
926
549
285
87
912
553
264
89
1,074
675
282
111
1,135
721
294
114
1,321
834
334
146
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
9,844
3,171
7,528
i 44, 991
15, 774
18, 275
8,229
2,153
5,687
30, 763
11, 222
12, 841
820
187
506
2,330
994
823
790
187
422
2,375
897
1,006
740
171
364
2,221
835
948
676
179
465
2,318
846
989
612
148
489
2,128
750
914
624
170
453
2,611
907
1,148
622
192
452
3,532
1,209
1,572
627
203
443
2,677
928
1,148
542
170
388
2,435
819
1,083
530
151
528
2,624
927
1,126
546
182
868
3,240
1,074
1,471
546
188
450
3,136
1,070
1,410
609
241
540
3,916
1,372
1,714
23, 179
12, 270
6,249
18,928
3,417
6,440
8,218
30, 771
15, 622
8,767
3,927
15, 214
3,152
5,173
6,053
22, 048
4,873
2,635
1,149
3,045
969
1,649
1,814
6,479
34.4
33.9
37.5
tons
By market (quarterly shipments):
Service centers and distributors
do
Construction, incl. maintenance
do
Contractors' products... _ _
do
Automotive.. _.
do
Rail transportation
do
Machinery, industrial equip., tools
do
Containers, packaging, ship, materials.. _ do
Othipr
An
Steel mill shapes and forms, inventories, end of
period—total for the specified sectors:
mil. sh. tons..
Producing mills, inventory, end of period:
Steel in process
mil sh tons
Finished steel
do
Service_ centers (warehouses), inventory, end of
Consumers (manufacturers only) :
Inventory, end of period
Receipts during period
Consumption during period
do..
do. .
do..
7.7
5.6
10.0
6.7
9.4
6.0
3,711
2,375
914
3,776
778
1,345
1,313
37.9
9.9
6.3
37.3
10.2
6.4
10.6
6.3
37.0
10.8
6.4
36.2
10.8
6.1
34.8
9.9
5.8
33.8
9.7
6.1
33.8
10.1
6.3
33.9
'33.5
33.8
10.0
6.7
10.0
6.4
'10.2
6.7
7.4
6.7
8.3
8.4
8.0
7.7
7.8
7.6
7.1
6.7
6.6
6.7
'6.5
6.5
13.7
81.5
79.0
10.5
58.9
62.1
13.8
5.1
5.2
13.3
5.0
5.5
12.7
4.5
5.1
12.4
4.9
5.2
12.0
4.3
4.7
11.7
4.7
5.0
12.0
5.8
5.5
11.3
5.0
5.7
10.8
4.2
4.7
10.5
4.3
4.6
10.6
5.1
5.0
10.4
5.1
5.3
f
Revised. , * Preliminary.
i Annual data; monthly or quarterly revisions are not
available.
2 For m0nth shown.
*New series. Source: American Iron and Steel Institute. The production rate of capability utilization is based on tonnage capability to produce raw steel for a full order book
based on the current availability of raw materials, fuels and supplies, and of the industry's
coke, iron, steelmaking, rolling and finishing facilities. Earlier data are not available.
37.0
3,615 2 1, 025 2 1, 096 21,443
2664
1,721
2530
2536
870
2397
2338
2326
3,692 21,812 2 1, 701 2 1, 959
2257
2240
718
2227
2471
2416
2399
1,089
2896
2588
2480
1,436
5,014 2 1, 988 2 2, 076 2 2, 481
3,440
2,091
1 003
4,686
686
1,083
1,490
5,193
10.1
6.5
10.4
6.0
6.0
^Effective May 1973 SURVEY, prices are in terms of dollars per short ton.
t Revised series. Beginning in the Nov. 1974 SURVEY, steel mill inventories at service centers
reflect (beginning 1967) new sample panel for the Census "Wholesale Trade Report and (beginning 1962), revised unit prices for converting value of merchant wholesalers iron, steel,
etc., inventories to tonnage equivalent. Monthly revisions for 1962-72 are on p. S-32, June
1975 SURVEY.
May 1976
SUEVEY OF CURRENT BUSINESS
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
| 1975
Annual
S-33
1975
Mar.
A.pr.
May
June
July
1976
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
4,903
1, 190
3,879
1,098
347
97
326
100
327
86
302
92
310
80
309
91
300
99
311
104
310
88
319
90
322
98
303
103
do
do _
509.0
45.3
457.9
61.0
30.7
3.3
31.5
3.6
25.5
4.1
34.9
3.6
26.7
6.4
43.5
5.0
56.4
6.0
37.8
5.8
45.3
7.4
46.3
7.4
36.1
8.9
47.0
6.8
50.7
9.0
do
do
207.8
234.9
185.8
185.4
3.6
12.7
4.5
18.0
13.4
15.2
8.6
13.7
4.8
14.2
20.9
13.6
13.7
17.5
25.2
15.6
36.8
13.0
44.9
18.0
31.3
14.7
4.1
16.7
25.8
15.5
Price, primary Ingot, 99.5% minimum.-. $ per lb._
.3406
.3979
.3900
.3900
.3900
.3900
.3900
.4042
.4100
.4100
.4100
.4100
.4100
.4100
.4100
Aluminum products:
Shipments:
Ingot und mill prod, (net ship.)...
mil. Ib-Mlll products, total
do
Sheet and plate
do
Castings
. . ..do
13,666
10, 461
5,626
1,760
9,760
7,425
4,052
1,376
675.7
524.3
261.3
107.3
734.4
575.5
296.6
114.6
742.7
575.1
308.3
109.4
829.5
608.7
332.7
109.2
825.4
646.5
369.7
93.3
863.2
665.9
393.4
111.6
895.6
692.3
385.4
123.5
919.7
673.5
361.0
139.6
811.7
585.4
312.6
116.0
961.7 '907.3
667.6 «• 722. 7
384.4 r 410. 5
122.2 »• 148. 1
948.8
687.9
385.3
160.1
170.0
5,156
5,999
5,866
5,940
6,092
6,086
6,070
6,013
6,014
5,962
6,007
5,999
'5,933
6,001
233. 8
482.0
1,411.0
443. 4
1, 299. 0
144.4
330.0
117.4
128.4
114.4
14.0
27.0
123.0
125.7
115.1
10.5
29.0
126.7
127.3
115.1
12.2
24.0
111.3
120.2
108.5
11.6
25.0
95.3
105.9
96.6
9.3
23.0
114.3
111.0
96.6
14.4
28.0
118.5
104.3
94.7
9.6
32.0
128.4
116.4
108.4
8.0
29.0
111.5
106.4
96.9
9.5
28.0
116.0
118.7
107.0
11.7
30.0
120.5
114.3
105.8
8.5
31.0
116.6
106.2
97.3
8.9
29.0
607.7
313.6
330.0
146.8
20.0
3.8
21.0
2.6
16.2
2.8
35.8
13.1
15.2
2.9
26.8
8.4
38.1
21.0
42.4
25.3
31.9
19.1
33.5
21.4
38.2
21.5
42.9
33.5
39.6
26.6
309.9
126.5
333.1
172.4
32.0
14.3
43.1
24.9
35.1
21.3
26.0
13.5
19.3
9.8
20.1
6.7
20.4
11.5
20.0
12.5
17.5
9.0
16.4
8.4
20.5
11.2
16.9
8.5
20.5
10.8
2,160
374
179
1,455
451
90
104
494
196
118
513
192
126
509
174
128
511
173
100
530
180
138
513
171
149
482
170
162
480
165
152
460
135
77
451
90
136
528
165
161
511
140
.7727
.6416
.6418
.6418
.6378
.6314
.6248
.6379
.6379
.6379
.6379
.6379
.6362
.6362
.6468
2,813
2,647
667
2,025
2,056
512
439
471
131
1
663. 9
1
620.7
608.0
58.4
50.0
55.9
46.3
53.2
51.6
50.7
45.6
37.7
46.0
48.0
47.4
50.6
55.6
56.3
59.8
48.9
61.0
52.8
53.8
50.4
52.0
'52.0
57.7
213.6
1,599.4
188.6
1, 230. 8
20.8
95.5
14.8
100.7
7.7
97.2
16.0
90.7
10.0
86.2
12.9
108.6
10.6
114.7
20.1
123.6
20.6
108.9
21.8
108.5
21.9
109.3
18,3
114.1
187.1
191.4
161.8
193.8
188.6
196.3
194.7
190.7
195.1
193.6
188.7
191.4
188.7
193.0
37.3
i 166. 6
81.2
120.3
96.1
136.0
101.1
120.7
102.9
122.5
109.3
115.5
110.0
115.9
99.3
116.1
85.6
114.1
76.8
121.1
82.8
117.9
81.2
120.3
90.6
110.5
92.0
110.4
89.9
85.3
.2253
87.8
.2153
92.2
.2450
89.5
.2450
77.9
.2334
77.4
.1900
80.8
.1900
84.4
.1956
79.5
.2000
88.5
.2000
83.8
.2000
87.8
.1946
83.7
.1900
79.6
.1900
.2022
5,877
Ig. tons__
6,314
39, 602
43, 664
do
1
18,897 i 12, 165
do
do
* 1, 989 i 1, 855
i 64, 742 54, 400
do
1
do
51, 611 42,000
1,019
3,360
1,065
240
4,765
3,920
521
5,777
1,130
195
4,975
3,790
522
2,342
1,040
205
4,325
3,275
0
3,361
1,005
210
4,240
3,130
848
1,725
820
155
3,750
2,970
183
2,300
1,050
175
4,230
3,050
508
3,272
1,095
105
4,450
3,250
982
3,679
1,180
175
4,680
3,525
0
3,719
920
120
4,340
3,365
1,083
3,936
980
125
4,545
3,485
0
4,005
990
125
5,090
4,135
498
2,414
28
4,809
3,540
9,490
3. 3982
596
10, 170
3.6604
96
10, 812
3. 5410
253
11,062
3. 4254
341
10, 874
3.4248
67
9,019
3. 3332
153
8,989
3. 3185
48
9,103
3. 2277
Imports (general):
Metal and alloys, crude A
Plates, sheets, etc
Exports:
Metal and alloys, crude
Plates sheets bars, etc
Inventories, total (ingot, mill products, and
scrap) end of period
mil. Ib
Copper:
Production:
Mine, recoverable copper
thous. sh. tons..
Refinery, primary
_.
do
From domestic ores
do
From foreign ores...
do
Secondary, recovered as refined
do
1
1
1,597. 0
1
1,654. 7
1
1,420.
9
1
Imports (general) :
Refined, unrefined, scrap (copper cont.)_. do
Refined /\
do
Exports:
Refined and scrap A
do
Refined
do
Consumption, refined (by mills, etc.)
do
Stocks, refined, end of period
do
Fabricators'
_._
do ...
Price, electrolytic (wirebars), dom., delivered
$ per lb_.
Copper-base mill and foundry products, shipments
(quarterly total) :
Brass mill products. ..
mil. Ib
Copper wire mill products (copper cont.) do
Brass and bronze foundry products
-do...
Lead:
Production:
Mine, recoverable lead
thous sh tons
Recovered from scrap (lead cont )
do
Imports (general), ore (lead cont.), metal
Consumption, total
do
do
Stocks, end of period:
Producers', ore, base bullion, and In process
(lead content) ABMS
thous sh tons
Refiners' (primary), refined and antimonial
(lead content)
_ ___ __
thous. sh. tons
Consumers' (lead content) cf
do
Scrap (lead-base, purchased), all smelters
(gross weight)
thous sh tons
Price, common grade, delivered
$ per lb__
Tin:
Imports (for consumption) :
Ore (tin content)
Metal, un wrought, unalloyed
Recovery from scrap, total (tin cont.)
As metal
_
Consumption, total
Primary
Exports, Incl. reexports (metal) f
Stocks, pig (industrial), end of period
Price, pig, Straits (N.Y.), prompt*
Zinc:
Mine prod., recoverable zinc
Imports (general):
Ores (zinc content). .
Metal (slab, blocks)
do
do
$ perib-.
8,415
10, 442
3. 9575
1
496
524
132
320
17
8,700
9,727
3. 2195 3. 2403
55.1
23.5
.2193
4,855
3,795
262
21
44
38
9,490
8,488
9,247
3. 0302 33.1397 33.2749 33.4720
499. 9
471.9
41.8
40.5
40.5
39.7
37.1
39.3
37.6
39.8
36.6
37.2
40.4
41.6
240.0
539.5
145.0
380.4
13.5
21.0
12.1
16.2
14.4
14.9
12.2
24.2
12.1
17.5
7.7
22.6
10.5
42.0
9.4
58.4
8.3
53.8
12.1
51.2
6.2
57.7
9.8
44.0
do
do
i 127. 1
1 258. 2
89.2
239.9
6.3
21.2
5.1
21.2
6.2
21.0
8.2
17.9
8.5
18.1
8.3
18.3
7.9
19.2
9.7
20.8
8.8
18.8
8.3
18.6
8.4
'IS. 6
7.6
19.6
27.6
2.1
72.1
(2)
25.3
1.5
67.9
(2)
25.6
2.4
83.2
.1
29.1
3.1
94.1
(')
28.8
4.7
94.8
.1
31.0
4.6
78.5
.2
36.8
4.1
81.3
(2)
42.0
3.8
84.1
(2)
40.8
4.5
87.8
.2
Slab zinc: §
Production (primary smelter), from domestic
i 555. 2
39.6
and foreign ores
thous sh tons
396.8
30.1
38.6
178.5
5.5
Secondary (redistilled) production
do
49.2
4.0
4.2
i 1,287. 7
67.3
Consumption, fabricators.
do
925.3
70.6
68.3
2.2
Exports
do
19.1
6.9
1.6
.7
Stocks, end of period:
108.0
»22.9
Producers', at smelter (ZI)0
do
67.4
115.7
116.0
Consumers'
do
161.4
1210.7
147.2
97.8
126.8
Price, Prime Western
$ perib- . .3594
.3895
.3896
.3893
.3894
r
Revised.
»
Preliminary.
1
Annual
data;
m
onthly re^visions are not avai lable.
2
Less than 50 tons .
3 gee " * " note .
AEfTective Jan. 1974 includes additional items: Aluminujn— pipes, tubes, 1Blanks, etc.;
copper—imports of alloyed refined; exports of ores, c oncentrat 3s, blister, etc.
§ All data (except annual production figures) reflect GSAreinelted zin c and zin c purchased
for direct shipment.
©Producers' stocks elsewhei e, end of Apr. 1976, 21,700 tc ns.
.6924
563
549
129
527
512
120
do
do
thous. sh. tons__
Consumption (recoverable zinc content):
Ores
Scrap, all types
697. 1
1
1,
1
.4148
3. 5546
8.3
45.5
0
68.0
67.5
67.4
74.6
73.4
73.5
60.7
90.5
54.0
61.0
97.8
91.6
91.1
93.8
92.3
103.3
95.3
90.6
. 3700
. 3700
.3700
.3893
.3712
.3892
.3890
.3890
.3895
.3889
rflr icludes S(jcondary smelters lead stocks in re finery sh apes and in copper-base scrap,
t E l"fective vnth the Aug. 197^I SURVE1r, data omit expc rts of wr ought tiii and tin alloys,
*Ne w series sffective with datei for Jan. 1976. Soiirce: Met als Week MWCo]nposite monthly
price (Straits c .uality, d elivered) is based on avenige of dai ly prices at two nlarkets (Penang,
Malay sia—sett Lenient, and LM E 3-mon th— Higli grade) and inc ludes fix ed charges plus
dealer 's and cc nsumer' 5 70-day financingI costs; n o compa rable earl ier price > are available.
108.6
114.0
.3894
SURVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
| 1975
Annual
May 1976
1975
Mar.
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
METALS AND MANUFACTURES—Continued
MACHINERY AND EQUIPMENT
Heating, combustion, atmosphere equipment, new
orders (domestic), net, qtrly 9 ._
mil. $._
Electric processing heating equip
_do
Fuel-fired processing heating equip
.do
153.5
23.8
90.4
146.4
43.6
52.4
36.6
9.9
17.7
Material handling equipment (industrial):
Orders (new), index, seas, adj If
1967 — 100
202.7
135 6
133 7
127 2
125 9
126 1
133 5
132 6
179 0
151 9
131 8
132.9
Industrial trucks (electric), shipments:
Hand (motorized)
number
Rider-type
do
Industrial trucks and tractors (internal combustion
engines) shipments
number
22 661
26 048
15 063
19 381
1 549
2 148
1 431
1 946
1 199
1 762
1 046
1 496
802
1 223
825
1 029
1 067
1 249
1 079
l' 344
970
1 076
1 779
1 680
55 124
36 388
3 551
3 224
3 250
2 781
2 Oil
2 479
2 557
6 033
2 450
3 787
176.5
142.3
141.9
131 6
132.2
134 6
136 3
144 6
147 8
147 8
145.1
167.8
165 2
161 8
164 6
165 2
162 2
164 2
166 3
161 6
167 4
166.1
146 6
169 4
167 8
168 4
168 7
169 4
170 2
170 5
170 6
170 8
172.0
Industrial supplies, machinery and equipment:
New orders index, seas, ad justed... 196 7-69 =100
Industrial suppliers distribution:
Sales index, seas, adjusted!
1967=100
Price index, not seas. adj. (tools, material handling
equip., valves, fittings, abrasives, fasteners,
metal products etc.)*
1967 ~~ 100
Machine tools:
Metal cutting type tools:
Orders new (net) total
Domestic
Shipments, total
Domestic
Order backlog, end of period
Metal forming type tools:
Orders new (net) total
Domestic
Shipments total
Domestic
Order backlog, end of period..
mil $
do
do
do
do
do
do
do
do
do
40 8
19.2
9.8
2 017 05
61 85
915 90
76 80
81 60 82 45
1 715 65 780 50
51 05
73 60 60 10
67 35
1 445 85 1 878 65 17855 177 10 171 20 179 70
1 241 35 1 548 10 147 25 150 20 139 15 154 10
2 025 2 1 062 4 1 747 7 1 647 4 1 557 8 1 460 6
485 20
405 85
584 70
521 80
521 2
Tractors used in construction, shipments, qtrly:
1
Tracklaying, total
._ .
units
23,623
mil. $
* 835. 1
Wheel (contractors' off-highway)
units. . 2 5, 600
mil. $.. 2255.6
Tractor shovel loaders (integral units only), wheel
and tracklaying types
units.. ' « 51,547
mil. $.. '* 1,137.2
Tractors, wheel, farm, nonfarm (ex. garden and
construction types), ship., qtrly
.
units 5 233, 842
mil. $ . • 1,785. 3
35.4
8.3
12.6
33 6
6.2
12.3
72 80
91 60
76 95
58 85
85 45
65 30
149 05 121 85 170 00
10
116 80 101 95 143
9
1 388 5 1 339 4 1 61 0
89 55
77 95
159 45
130 50
1 191 1
29 95
24 60
51 80
43 20
296 6
30 20
26 85
47 55
42 75
258 2
19 70
17 35
40 75
34 45
275 6
142 4
151.2
148.2
154.4
156.3
164.6
159.3
172.8
170.2
175.7
184.4
172.9
174.5 * 175. 1
175.3
176.3
73 75
80 85
87 05
66.15
73 15
71 05
134.55 161 95 117. 00
105 95 130 95 101 20
1 1374 1 062 4 1 019 2
21 20
18.80
40 85
34 25
238 6
17 35
13 05
65 00
52 80
387 6
20 485
1 095 7
4,592
289.6
5 611
276.5
1,219
73.6
5 570
293 1
1 329
86.8
4 732
260.6
1,080
73.8
4,572
265.4
964
55.3
38 019
1, 130. 4
10, 203
280.5
10 871
323 4
8,579
260.3
8,366
266.2
225 993
2 327 4
61 971
582.2
65 411
644 7
43 902
464.6
19 25
14 20
43 10
36 95
363 8
19 35
12 50
45 15
39 50
338 0
36 25
27 35
39 90
34 85
334 4
17 45
15 00
33 35
27 65
318 5
32 80
29.30
39 25
33 20
212.1
28 25
23 60
48 15
39 75
218 6
270 45
212 65
573 05
484 50
218 6
3
1, 628
386.3
110 00
95.80
129. 80
109 15
999.4
P122. 45
p 97. 75
P146. 95
pl25. 20
v 974. 9
34.55 » 41. 40
30.15 v 36. 10
45 25 p 55. 20
37.60 v 42. 05
201.4 P 187. 6
31,552
387.1
54, 709 3 20,144 3 19,233
636.0 3 232. 8 3 218. 8
ELECTRICAL EQUIPMENT
44 408
39 340
2 550
2 570
2 487
2 463
Radio sets, production, total marketd"
thous. . 43,993
Television sets (incl. combination models), production, total market cf _
thous.. 15, 279
34, 516
* 2, 653
3,034
2,380
* 3, 072
3,418
10,637
«762
769
751
'943
765
919
31,996 i 24, 240
4 564 i 2 683
3 320 i 2 702
2 553 * 2 080
2 925
i 2 014
5 982 i 4 582
2 457
3 220
4 948
4 228
3 584
2 870
8 470
7 640
1,972
337 4
186.4
160.4
150 0
341 5
207.2
2,060
378 8
211 8
164.2
160 2
338 9
216.9
315 7
319 8
215 5 8 208.4
2 549 4
2,174
446 5
207 8
141 6
154 6
390 0
212 8
354 4
198 2
2,367
343 5
229 0
183.7
186 2
486 4
234.9
384 2
234.0
2,270
147 0
195.4
191.3
176 6
516 3
276.4
403 4
250.9
7
1,690.1
Batteries (auto.-type replacement) ship
thous
Household major appliances (electrical) , factory shipments (domestic and export)* 9
thous..
Air conditioners (room) _
do
Dishwashers
do
Disposers (food waste). _ _
do
Ranges
do
Refrigerators
do
Freezers *
do
Washers.
do
Dryers (incl. gas)
do
Vacuum cleaners
do
2
QCC
4 469
4 282
3,453
2, 593
2,496
2,751
878
<980
890
2,246
101.0
318.1
214.6
198.3
456.6
184.8
429.1
315.5
1,577
60.3
247.6
179.0
156.2
304.7
91.5
296.2
218.7
1,801
223. 3
259.7
178.8
183.7
360.9
83.8
279.3
202.9
8
3,400.3
1,934
261.1
223.8
192.8
167.7
299.7
115.2
368.8
266.4
148 3
152.1
235 3
121 1
146.7
183 2
114 3
158.2
204 9
4 432
4 613
3 948
3,178 * 3, 696
3,271
2,564
* 1, 293
1,069
2,106
71 6
227. 1
178.7
178 6
417 6
272.4
424 3
288.1
2,243
27 4
253.1
206.5
187 2
464 8
242.9
480 5
345.8
%c
121 4
147 0
225 2
3 573
4
3,154
4
3, 673
3,627
919
* 1, 223
931
2,158
264.5
224.4
188.7
183.7
361.6
131.8
417.5
292.6
2,500
405.4
294.3
204.6
200.8
426.7
162.0
412.2
282.1
9
2, 392. 1
2,514
524.4
296.5
222.6
217.0
408.3
143.3
346.2
234.4
109 7
265 6 r 255 9
9
123 7
188.3
293 4
GAS EQUIPMENT (RESIDENTIAL)
Furnaces gravity and forced-air shiDments thons
Ranges, total, sales
'
do
Water heaters (storage) automatic sales
do
1
09 7
A'JR
1 950
1 618
141 4
90*1 c
134 0
70 n
125 0
9^4. ^
OC K
151 0
9O7 ft
9 9 ft
118 7
226 2
134 3
90fi ft
142 7
r 137.
3
r 162.
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production t_._
thous. sh. tons.. 16,617 ^,055
540
270
470
Exports ...
do....
735
640
32
68
15
Price, wholesale, chestnut, f.o.b. car at mine
.
$persh. ton.. 29.972
44.856 41.711 41.711 46.428
nlf
Bituminous:
Production t-thous. sh. tons.. 1603,406 I 640,000 51,910 53,135 55,370
' Revised.
* Preliminary.
i Annual data; monthly or quarterly revisions not avail.
Excludes figures for rubber-tired dozers.
s For month shown.
* Data cover 5 weeks;
other periods 4 weeks.
« Beginning 1974, tractor shovel-loader class exludes shipments of
tractor shovel-loader/backhoes (front engine mount); of this type, data for the tractor chassis
only
are now included in the wheel tractor class (year 1974 data, 22,235 units valued at $153.1
mi
+y« * Ja n--Apr.
7 May-July.
s Aug.-Dec.
9 Jan.-Mar.
t Effective June 1973 SURVEY, index revised back to 197C
II Revised data for Jan. 1971-Apr. 1973 are in the Jan. 1975 SURVEY. Subsequent revisions
3
525
66
460
89
530
45
495
102
595
56
550
21
655
63
530
14
440
24
525
21
46.428
46. 428
46.428
46.428
46.428
46. 428
46.428
46.428
46.428
46.428
535
46.428
57,850
55,730 45,560 51,160 55,560 60,030 52,410 53,115 51,495 50,005 60,500
(beginning Jan. 1974) incorporate gross- new orders from all reporting groups, comparable
with data prior to 1974. See Aug. 1975 SURVEY.
.
cf Effective Jan. 1973, data reflect total market as follows: Sets produced in the United States,
imports by U.S. manufacturers for sale under their brand name and, beginning 1973, sets imported directly for resale.
9 Includes data not shown separately.
* Price index (Natl. and Southern Industrial Distributors Associations), based on U.b.
Dept. Labor prices of 10 industrial supply/equipment prod, groups weighted according to
survey of Assn. members' distributors sales (series avail, back to 1967). Appliances (Assn.
of Home Appliance Manufacturers).
JMonthly revisions back to 1972 will be shown later.
SURVEY OF CURRENT BUSINESS
May 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1974
1975
Annual
S-35
1975
Mar.
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
45, 545
33, 199
12, 020
6,485
50, 290
37, 249
12,716
6,716
52, 397
39, 768
12, 326
6,732
Feb.
Mar.
Apr.
3 050
368 0
3 979
366.9
366 4
PETROLEUM, COAL, AND PRODUCTS—Continued
COAL— Continued
Bituminous — Continued !
Industrial consumption and retail deliveries,
552, 709 ' 554, 622 ' 47, 253 r 43, 567
total?
thous. sh. tons
390, 068 ' 403, 249 ^ 32, 690 r 30, 147
Electric power utilities
do
Mfg. and mining industries, total
do_ _. 153, 721 '145,667 13, 860 13,021
7,427
7,880
Coke plants (oven and beehive)
__do_ .. 89, 747 ' 83, 193
8,840
Retail deliveries to other consumers _ _ do
Stocks, industrial and retail dealers', end of period,
total
_ thous. sh. tons _
Electric power utilities _
_ _ d o - _ ..
Mfg and mining industries, total
do
Oven-coke plants
do .
95, 528
82, 631
12,617
6,037
703
396
127, 159 ' 97, 949 '102,772
109, 707 ' 80, 904 '85,719
17, 175 16, 766 16, 793
8,980
8,671
8,6C5
283
335
486
318
378
324
324
c
324
303
109,796 '115,014 109, 313 108, 680 112, 102 '120,371 125, 813 127, 159 119, 255
92,054 96,839 92, 995 93, 051 96, 621 '104,227 109, 273 109, 707 104, 303
17, 428 17, 796 15 884 15, 204 15 039 15 861 16, 277 17 175 14, 793
7,340
7 729
9,603 10, 009
8,468
8,115
7 003
8 671
8 126
280
277
279
260
314
379
434
425
442
283
263
277
159
59, 926
339. 5
65, 669
387.0
5 653
391.8
6,159
390.8
7 Oil
389.6
6 269
386.0
4 691
382 0
5,859
377.3
4 529
372.4
4 647
370.2
7,593
363.0
4 534
370.1
3 697
368.9
845
_ _ -thous. sh. tons..
2 60, 737
do
do_ .. 24, 749
2727
56, 494
25, 848
67
5,324
2,104
67
5,030
2,043
4,765
2,140
49
4 250
2 220
4 527
2,307
57
4,365
2,115
40
4 532
2 259
4,427
2,198
60
5,052
2,031
4 549
2 286
4 551
935
910
25
1,442
1,372
1,733
1,634
2,261
2,131
1,191
1 211
3,522
3 323
199
1 283
3,867
3,654
213
1,325
4,108
3 899
1,142
2,889
2,741
148
1,216
3,821
3 618
1,084
4,996
4,718
278
1,472
203
209
1 477
4,996
4 718
278
1 472
5,092
4 820
272
1 435
4,522
4,291
231
1 565
1,278
1,273
109
132
133
138
105
89
117
93
52
74
55
92
87
1,341
230.2
384.3
83
1,181
232.2
368.3
82
1,100
234.2
384.7
83
1,246
256 0
385.6
1 229
250 4
414 9
1,272
256.1
416.9
1 504
256 1
401 5
1 633
257 8
397.3
1 619
261 0
394.6
1 817
262 6
411.4
1,465
9(53 2
1 341
242 3
1 726
242 4
245 3
Retail dealers
do
Exports
Price, wholesale*
5,682
42,683 ' 44, 727 ' 47, 496 '49,102 '43,829 '44,563
30,128 30,120 36, 186 37, 759 32, 361 '32,717
12, 268 ' 11, 269 ' 10, 822 ' 11, 023 ' 11, 088 11,519
7,282 ' 6, 921 ' 6, 638 r 6, 564 '6,287
6,659
do
Index, 1967=100.
_
COKE
Production:
Beehive
Oven (byproduct)
Petroleum coke §
Stocks, end of period:
Oven-coke plants, total
At furnace plants
At merchant plants
Petroleum coke
Exports.. -.
_
do
do
_do. _
do
_- _
do
70
99
56
131
52
52
53
62
PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed
Price, wholesale*
.
Runs to stills O
Refinery operating ratio
number.. 212, 784
16,338
245.7
Index, 1967=100 3 211.8
mil. bbl
4, 631. 6 ' 4,709. 3
% of capacity.
387
86
All oils, supply, demand, and stocks:
New supply, total eft
Production:
Crude petroleum:}: ...
Natural-gas plant liquids!
Imports:
Crude and unfinished oils
Refined products!
_
Distillate fuel oilj.
Residual fuel oil!
Jet fuel!
„ _
Lubricants!
Asphalt
Liquefied gases!
__ __
Stocks, end of period, total
Unfinished oils, natural gasoline, etc
Refined products
Refined petroleum products:
Gasoline (incl. aviation):
Production
Exports! - -
85
87
88
6,062. 7 »• 5,860. 8
492.6
454.4
470.9
465.1
495 3
501 9
500 5
505.0
489.4
500.7
262.8
52.2
253.2
50.2
259.5
50.9
252.3
50.6
258.1
51.8
255 4
52.5
248.0
48.4
257.6
52.2
248.1
50.4
255.4
52.2
do
do
1,313.4
917.6
1,511.1
r 687. 8
114.7
63.0
102.2
48.8
108.9
51.6
118 4
43.8
131 3
54 1
143 1
51 0
141 5
62 7
137 3
57 9
139 5
51.3
139 9
53 1
do
65.3
511.8
-9.9
-19.2
12.2
18
15 2
20 6
40 4
88
23.5
—46 7
do
6,158. 7
6, 022. 6
512.4
486.9
474.9
475 1
494 4
495 1
479 2
512 5
476 6
565 7
1.1
79.4
'2.1
'74.3
.3
6.3
0)
5.7
0
6.3
0
6.7
o
o
o
o
58
6 3
6 2
58
0
5.0
81
6,078. 2
2, 402. 4
64.4
5, 946. 2
2, 450. 3
58.0
505.8
197.1
5.2
481.2
202.7
4.4
468.6
214.1
3.0
468.3
213 5
4 0
488 6
219 7
3 0
488 8
218 6
33
473 1
203 9
38
506.7
211 5
4 5
471.6
192 8
4 4
557.6
212 0
85
1,075.9 '1,039.8
963.2 r 888. 0
362.6
365.3
102.1
82.7
30.4
92.8
66.8
30.2
73.9
63.5
30 3
68 0
65.4
29 7
65 5
69 4
29 6
67 4
65 6
32 4
64 9
69 9
31 2
82 9
69 4
30 9
76 3
70.5
30 0
117 1
84 6
28 2
6.1
43.0
9.1
36.8
12.7
30.7
17.1
29 7
18.3
36 5
19.1
37 2
18.9
37 3
17.7
43 9
11.5
42 5
1, 133. 0 1, 076. 4
1,057.2
110.5
685 9
114.1
661 2
189.2
do
do
do
do
do
do
_ __.
88
3,202. 6 r 3,052. 0
629.2 ' 609. 7
do ..
do
Domestic product demand, total 9 0!
Gasoline!...
.
Kerosene...
._
89
89
do
do
mil. bbl
Change In stocks, nl! oils (decrease,—).
Demand, total©!
Exports:
Crude petroleum
Refined products!
86
do
do
do
56.7
168.7
513.1
50.1
' 147. 4
r 486. 4
do
41,121.1
do
do
113.6
4 742 5
113.7
do
do
2, 337. 5
2, 393. 6
Prices (excl. aviation):
Wholesale, regular*
Index, 2/73=100
Retail (regular grade, excl. taxes), 55 cities
(mid-month) if
$ per gal_.
Aviation gasoline:
Production
mil. bbl
Exports!
_
do
Stocks, end of period
do.
Kerosene:
Production
do
3.2
3.7
o
4.4
5.9
54 3
1,069.4 1, 071. 2 1, 086. 4 1, 106. 9 1, 147. 3 1, 156. 1 1, 179. 6 1,133.0
276.1
271.0
259.4
269.6
256.6
271.4
264.2
121.2
115.6
119.9
118.1
114.6
113.4
113.7
116.3
675. 1
793. 1
732.2
773.3
773.1
747.9
705.9
.8
238.0
214 6
206 0
200 3
252. 1
182.3
0)
235.7
218 5
4 228. 3
217.0
210.0
215.2
218.4
229.2
(l)
224.5
199 4
C1)
235.3
211 3
.3
238.0
178.4
211.8
191.1
193.3
199.0
206.8
215.5
228.9
233.7
235.1
233.0
229.5
227.3
226.4
221.6
218.9
.404
.455
.425
.428
.438
.452
.474
.480
.480
.481
.476
.476
.468
.462
.456
.452
15.9
13.7
.9
.9
1.1
1.3
1.5
1.3
1.5
1.3
8
0)
3.0
1.1
310.5
316.6
313.5
310.8
1.0
.1
0)
l
43.5
.1
3.0
()
3.3
56.9
16. 9
55.7
15.6
4.9
4.5
15.2
15.3
191 1
0)
(i)
3.0
201 2
0)
(i)
2.9
0)
(i)
2.7
0)
(i)
2.9
0)
f\\
2.8
Cn
2.9
(i)
3.1
m
3.0
4.2
2.8
16.5
15.4
16.0
4.4
4.4
4.4
17.2
17.8
17.8
18.2
15.6
226.7
285.6
273. 6
274.9
280.6
Revised.
i Less than 50 thousand barrels.
2 Reflects revisions not available by
months.
3 Beginning Jan. 1974, data may reflect input of lease condensate, natural gas plant
liquids, unfinished oils, and other hydrocarbons which are processed through the crude oil
distillation facilities. No comparable data for earlier periods are available.
* Effective with
I9f 4 end-of-year stocks, data reflect approximately 100 additional bulk terminals and are not
wlt
ller
™i8£??n
Vi
?fj*n°af . Periods. No earlier data are available for these terminals.
5
Not comparable with 1974 and earlier periods; See note 4 for this page
9 Includes data not shown separately.
§ Includes nonmarketable catalyst coke.
sh?wn°«
tT a?\(?lntl10f " other h y dr ocarbons and hydrogen refinery input," not
shown separately.
1 Monthly revisions prior to 1974 will be shown later; revisions for 1974
284.6
283.7
299.1
297.9
299. 4
304.2
307.8
4
Price, wholesale (light distillate)*
Index, 1967=100..
r
3.7
4.7
5.8
© Beginning March 1974 SURVEY, data are restated to account for processing gain and
crude losses not previously included; comparable data for earlier periods will be shown later.
©Effective
with Jan. 1974 data, series known as " Gross input to crude oil distillation units";
see note 3 for this page.
*New Series. The source has discontinued prices for the former
specification. Comparable indexes for earlier periods will be shown later. For gasoline and
kerosene see also similar note on p. S-36.
^Beginning June 1975 SURVEY, the prices for all
months have been transferred forward (i.e., Dec. price moved
into Jan. period) since they are
c
for "mid-month" instead of "1st of month" as formerly.
Corrected.
SURVEY OF CURRENT BUSINESS
S-36
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
| 1975 P
May 1976
1975
Mar.
Annual
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
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 (middle distillate)*
Index, 1967=100..Residual fuel oil:
Production
mil. bbl
Imports^
do
Exports^-do
Stocks end of period
do
Price, wholesale*
Index, 1967=lo6_..
Jet fuel:
Production
Stocks, end of period
83.0
2.9
(2)
235.8
208.8
308.3
312.9
318.2
322.9
330.8
336.3
336.7
339.4
335.1
331.5
34.6
27.1
.6
69.7
489.3
35.8
35.5
.5
71.5
479.9
35.5
30.4
.4
71.9
473.3
35.5
39.4
.6
76.9
458.1
36.1
37.8
.2
81.9
461.8
36.4
35.1
.4
83.1
450.4
42.0
34.1
1.0
74.1
459.3
451.8
445.2
454.8
453.8
26 7
30.7
25 2
29.3
27.4
29.8
29.7
31.1
27.2
31.3
26.8
30.4
25.9
29.0
26.3
30.4
4.4
.7
16 0
4.5
1.0
15 4
4.6
.7
14.9
4.8
.9
14 7
4.7
.7
14.2
4.8
.7
14.0
5.1
1.1
13 3
5.0
.6
14.2
5.1
.7
14 3
74.6
3.3
.1
146.3
75 4
4.2
(2)
152.1
77.2
2.0
(2)
163.3
272.0
309.4
294.6
294.9
296.1
301.3
390.5
579.2
5.0
4
74. 9
485.4
451.0
r 435. 9
»-5.3
74 1
495.5
40.3
40.1
.3
64.1
528.2
37 3
31.4
.2
66.3
534.6
35 7
34.8
.2
73 5
491.3
305.1
29. 8
318 0
30.4
27.8
30.5
25.9
30.3
4.6
.6
16.5
4
4
70.7
11.9
16.1
56.2
9. 1
14 3
r
80.3
3.3
(2)
86.3
3.9
(2)
164.2
21 6
144.0
22 8
9.2
30.2
9.4
30 7
13.1
31 6
14.4
29 6
16.6
28 4
16.2
26 3
14.8
22.6
14.5
19 8
11.6
20 2
8.3
22 8
571.3
447.9
123 3
4
112. 5
557.5
444.1
113 4
125 1
47.4
38.7
8.7
97.1
44.9
36.7
8.2
101.4
46.2
37.0
9 3
111.7
45.5
35.8
97
124.1
47.6
37.2
10.4
131.2
48.9
37.8
11.1
138.5
44.8
35.0
9.8
141.6
47.4
37.8
9.6
140.6
46.2
36.9
9.3
138.1
48.1
38.4
96
125.1
37.2
mil. bbl
do
Liquefied gases (incl. ethane and ethylene) :
Production total
mil bbl
At gas processing plants (L. P.O.)
do
At refineries ( L E G )
do
Stocks (at plants and refineries)
do
85.1
3.2
(2)
226.2
78.5
7.9
(2)
161.1
do
do
do
Asphalt:
Production
Stocks end of period
84.4
3.9
(2)
220.8
968.6
'•55. 9
.3
208.8
mil bbl
do
Lubricants:
Production
Exports t
Stocks end of period
181.5
80.4
2.9
(2)
197.4
974.0
105.6
.9
4
223. 8
4
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
Consumption..
Stocks, end of period
thous. cords (128 cu. ft.)
do
do
77 302
74, 459
7 238
60 134
65,730
6 845
5 056
5 527
7 477
4 802
5 059
6 764
5 073
5 155
6 372
5 027
5 244
5 834
5 010
6 330
5 497
5,476
6 346
5 448
5 371
6 411
6 537
6,297
6 727
5,829
5,908
6 627
5,672
5,490
6,845
6,031
6,163
6,799
6,279
6,130
7,008
Waste paper:
Consumption
Stocks, end of period
thous sh tons
do
12 106
848
9 093
731
699
795
770
775
744
755
750
744
696
752
770
740
784
744
871
768
809
717
762
731
'842
»-694
820
640
WOODPULP
Production:
Total, all grades
thous sh tons
Dissolving and special alpha
do
Sulfate
.
do
Sulflte
do
Qroundwood
do
Deflbrated or exploded screenings etc do
Soda and semlchemical
do
48 417 540 997
1 723
1 367
33 010 3 29, 358
2 025
2 210
4,414
4,711
(5)
2 7293,419
4,035
Stocks, end of period:
Total all mills
Pulp mills
Paper and board mills
Nonpaper mills
do
do
do
do
Exports, all grades, total
Dissolving and special alpha
All other
do
do
do
1
Imports, all grades total
do
1
do
1
All other
5
3 221 5 3 076 53 215 5 3 208 5 3 171 5 3 569 53 396 53 919 « 3 724 53 371 s 3, 935 6 3, 850
123
120
127
132
'l33
'l!7
107
87
95
106
111
88
2,741
2,779
2 436 2 847 2,685 2,404
2 583
2 289
2 307
2 240
2 359 2 334
174
179
166
186
176
179
183
148
146
153
166
149
402
420
375
421
406
362
389
330
342
397
327
360
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(6)
(5)
(")
(5)
435
292
305
413
277
262
277
272
263
315
333
323
1 024
497
440
87
1 179
630
470
78
1 222
655
494
73
1 271
719
489
63
1 258
710
1 2, 565
692
3, 257
255
75
180
184
47
137
1
3, 078
140
i 2, 937
296
17
278
59 934
26, 861
27, 892
144
5 037
52 297
23 370
24 233
91
4 577
140 9
152.2
123.5
170.3
127.1
1 177
440
637
100
2, 802
788
i 2, 015
4, 123
221
3, 902
1
1 124 e i 113 61,024 *• 1, 062
562
6497
6633
635
440
'•431
421
441
87
r69
59
49
1,072
240
58
298
206
76
130
209
54
155
214
73
141
283
318
23
295
280
g
272
313
20
294
4 533 r 4 940
4 743
2,120
2,215
1 140
611
465
65
1 041
63
1 231
682
475
74
205
66
140
208
36
173
183
58
124
218
55
163
207
59
149
161
44
117
186
52
134
248
5
243
245
10
235
278
24
254
267
11
256
223
12
211
242
4
237
255
11
244
237
g
230
4 Oil
1,' 787
1,852
8
365
4 048
1 768
1 886
8
387
4 184
1 799
1 985
8
392
4 209
1 849
1 951
7
403
4 147
1 850
1 881
6
411
4 613
2 006
2*137
g
435
4 562
1 992
2 142
g
420
5 144
2 258
2*427
g
451
4 708
2 083
2 218
7
401
170.7
123.6
170.4
123.4
169 9
125.7
174.8
172.9
171.7
169.7
170.1
171.3
170.6
169 9
170 6
170 0
170 6
136.2
137.0
133.2
131.7
131.2 131.4
131.3
126.2
127.4
128.8
127.7
*New series. The Bureau of Labor Statistics has revised its pricing program and discontinued prices for the former specification. The index shown is developed from revenue and
volume data collected directly from petroleum companies. The pricing formerly was based
on spot quotations in trade journals, which over the past year have come to represent a
decreasing portion of domestic transactions. Because of the time required to collect the new
data there will be a one-month lag in pricing; e.g. the May index reflects changes m prices
from Mar. to Apr. Except for gasoline, (p. S-35) comparable data prior to April 1973 are
available upon request.
484
540
448
53
21
262
574
436
61
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census) :
All grades total unadjusted
thous sh tons
Paper
do
Paperboard
do
Wet-machine board
do
Construction paper and board
do
Wholesale price indexes:
Book paper, A grade
1967 — 100
Paperboard
do
Building paper and board
do
r
Revised.
1
» Preliminary.
J
Reported annual total; revisions not allocated to the months.
Less than 50 thousand
barrels.
s Beginning with January 1975, data 4for soda combined with those for sulphate;
not5 comparable with data for earlier periods.
See note 4 for p. S-35.
Beginning March 1975, data for defibrated or exploded, screenings etc., not available;
not comparable with those for earlier periods.
6 Data exclude small amounts of pulp not
reported because it would disclose the operations of individual firms.
{Monthly revisions prior to 1974 will be shown later; revisions for 1974 are available upon
request.
2* 106 »•r 2, 249
2 071
2, 287
7
348
r
9
396
8
399
SUEVEY OF CURRENT BUSINESS
May 1976
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1975
1975
Mar.
Annual
S-37
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS— Con.
Selected types of paper (API):
Oroundwood paper, uncoated:
Orders new
thous.sh. tons
Orders unfilled end of period
do
Shipments
do
Coated paper:
Orders new
do
Orders unfilled end of period
_ do
Shipments
do
Uncoated free sheet papers: t
Orders new
do
Shipments
do _.
Unbleached kraft packaging and Industrial converting papers:
Orders new
do
Orders unfilled end of period
do
Shipments
do
Tissue paper production
do
Newsprint:
Canada:
Production
Shipments from mills
Stocks at mills end of period
- -
United States:
Production
Shipments from mills
Stocks at mills, end of period
1,255
do
do
do
1,223
167
226
1,246
1,161
93
171
86
74
180
88
93
182
92
102
195
84
89
197
90
114
202
101
105
207
97
144
236
122
118
232
119
111
226
113
104
226
110
102
175
107
3,642
3,145
296
264
3,832
3,217
232
221
258
222
199
248
246
207
243
238
203
249
252
206
252
264
199
272
263
199
260
343
252
303
301
245
277
297
264
311
350
273
320
314
211
310
6,355
6,946
5, 399
5,504
364
384
400
395
416
434
418
441
459
450
457
489
499
489
600
558
555
535
553
541
545
573
496
538
223
109
225
333
238
111
236
333
268
123
256
335
273
121
270
327
272
127
263
311
316
131
312
345
319
149
307
322
316
135
330
366
294
135
293
356
302
149
288
334
333
365
320
347
824
791
298
771
748
321
801
806
317
759
787
289
645
651
283
597
623
258
510
530
237
487
518
206
379
488
137
324
365
95
370
339
126
552
484
214
812
781
225
321
314
36
272
270
38
260
261
36
284
281
39
285
290
34
323
316
42
294
298
38
324
331
30
306
304
33
278
290
21
323
323
21
294
294
20
321
318
23
531
4,135
3,422
135
149
4,187
4,092
3,406
4,015
39,548
39,597
3143
3 7, 679
3 7, 727
395
33,481
' 3 3,377
'325
33,564
' 3 3,440
Consumption by publishers cT
do__Stocks at and in transit to publishers, end of
period
thous. sh. tons
3 7, 022
3 6, 364
548
540
569
529
482
507
515
565
583
546
498
505
3827
3734
1,016
1,035
1,014
1,046
1,090
1,104
1,045
983
837
734
664
652
687
Imports
. _
.- - -do .
Price, rolls contract, f.o.b. mill, freight allowed
or delivered
Index, 1967=100,
7,399
5,847
553
565
536
552
537
440
435
394
289
316
270
302
603
U51.2
4 184. 0
181.8
184.7
184.7
184.7
184.7
184.7
184.7
184.7
184.7
184.7
184.7
184.7
190.1
193.1
342
876
482
1,165
406
841
445
883
479
871
473
856
469
981
497
997
520
1,093
563
1,198
543
1,233
482
1,165
512
1,163
583
1,231
578
1,268
576
1,256
_
do
_ -do _
do
Paper board (American Paper Institute):
Orders, new (weekly avg.)
thous. sh. tons_.
Orders, unfilled §
_do__
Production, total (weekly avg.)
do-_.
Folding paper boxes
476
431
1216,072 ^194,329
14, 571
186.7
137.6
556
Paper products:
Shipping containers, corrugated and solid fiber,
shipments
mil sq. ft surf, area
2,560.0
1,700.0
thous. sh. tons
mil $
321
2, 380. 0
1, 755. 0
515
470
475
15,379
15, 986
15,441
15,816
16,778
18, 360
196.9
144.1
191.6
141.1
195.2
144.9
189.0
139.7
200.5
146.8
214.4
157.7
439
423
486
565
550
487
19,811
15,851
15, 959
227.6
168.1
191 5
141.5
208.0
155.7
546
566
17, 414
16, 705
r
r
T
r
205. 2
152. 7
580
583
18 875
187 4
141 4
224 7
167 2
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
2
Consumption
thous. metric tons
719. 05
2 137. 54
Stocks, end of period
_ -do
Imports, inch latex and guayule.. thous. Ig. tons.. 681. 32
633. 60
105. 38
656. 60
50.00
126. 89
51.46
53.12
125. 44
52.34
55.51
113. 14
32.65
55.09
125. 15
58.41
46 77
118 69
52.73
51 98
116 75
59.72
58 04
107. 05
54.29
58 74
104. 91
57.15
44 76
110 69
66.21
50 50
105 38
62.20
66.07
55.57
72.12
.398
.299
.293
.293
.285
.293
.318
.303
.308
.300
.300
.308
.330
.358
.370
2,498.22 1, 940. 76
2,355.82 1, 805. 91
2 618. 70
369. 86
136. 68
135.04
479. 26
138. 71
149. 15
426 60
153. 63
149. 30
424. 70
149. 78
153. 40
408 20
144 89
137. 57
390 78
172. 71
153. 10
378. 87
181. 99
164. 07
368 01
194. 35
179. 44
358. 94
185. 72
139. 70
365 33
189. 24
146. 59
369, 86
267. 12
214. 50
15.06
17.17
15.69
16.78
16.24
18.36
19.28
20.64
21.15
22.57
21.24
22.55
25.14
2 153. 27
2 144. 57
2 15. 47
78.90
100. 22
11.66
6.36
8.10
16.10
5.60
8.23
14 14
8.85
8.68
13.53
6.74
9.54
12.83
4 99
7.65
11 37
5.80
9.53
12.64
6 36
9.26
12 02
6.46
8.17
10.35
6 58
7 26
11 56
4.22
6.99
11 66
15 222
15, 677
16 678
14 531
16, 413
17 878
18 821
15 212
16 215
17 598
18 200
19 404
4 231
14,642
17, 941
4,291
13, 123
17 888
3,342
14,156
16, 332
3,852
12, 007
473
14 056
3 928
9,667
14 615
4,769
9,299
518
569
13 854
3 988
9 352
16, 410
4,919
10, 952
390
19 883
5 206
14 159
18 680
4 856
13, 256
531
528
19 384
4,469
14, 393
514
461
547
539
54 082
52 037
49 803
46 990
47 405
45 711
46 002
55 395
547
50 020
*419
53 172
470
47 569
'529
482
435
2 788
3 118
9 474
3 103
3 414
9 307
2 380
2 678
9 260
2 305
2 542
9 212
2,675
2 941
9 133
2,790
3 043
9,028
300
309
Prlce, wholesale, smoked sheets (N.Y.)__$ per lb-Synthetlc rubber:
Production. ... _.
Consumption..
Stocks, end of period
thous. metric tons
_ _ _
_
do
do
Exports (Bu. of Census)
Reclaimed rubber:
Production
._ _
Consumption
Stocks, end of period. _ _
thous. Ig. tons..
thous. metric tons
do
do
2
2
.388
TIRES AND TUBES
Pneumatic casings, automotive:
Production
thous
211, 390
186, 705
12, 107
do
do
_
do
do
209, 418
55, 245
145, 449
8,724
196, 281
47, 452
142, 706
6 122
15, 316
3,577
11, 147
Stocks, end of period.. _
Exports (Bu. of Census)
do
do
55, 242
9,229
50 020
6 124
57 721
Inner tubes, automotive:
Production.
_
Shipments
Stocks, end of period.
Exports (Bu. of Census)..
do
do
do
do
41, 415
46 227
8,755
3 608
32, 584
34 581
9 212
3 998
2,335
2,644
9,658
Shipments, total
Original equipment
Replacement equipment
Exports.
. .
591
601
253
577
574
2 798
2 830
9 838
2,656
2 734
9,921
2 685
3 099
9 669
351
390
425
.»• Revised.
9 Preliminary.
i Reported annual total; revisions not allocated to months.
' Publication of monthly rubber statistics was discontinued by the Census Bureau effective
with the Dec. 1972 report (Series M30A). Data beginning 1973 are from the Rubber Manufacturers Association and are not strictly comparable with earlier data.
3 Beginning
January 1974, data reflect reduction in basis weight of newsprint from 32 to 30 Ibs. for 500
sheets measuring 24" x 36"; data for January 1974 on 32-lb. basis (thous. short tons): Canadaproduction, 840; shipments, 815; stocks, 222; United States—production, 289; shipments, 285;
mill stocks, 29; consumption by publishers, 586, stocks at and in transit, 676.
< Beginning
522
495
435
2,497
2 889
9 476
217
491
2,703
2 779
9 546
267
215
455
352
283
609
402
Feb. 1975, data reflect indexes in lieu of dollar amounts formerly shown.
t Represents the sum of uncoated book paper and writing and related papers (including thin
paper) formerly shown separately; data for new orders no longer available for the individual
items.
cf 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.
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
1975
1975
Annual
May 1976
Mar.
Apr.
May
June
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
22 782
17 660
20 484
28 090
440.5 ' 343. 6
7.4 r '5.4
457.5
8.7
566.3
8.6
Apr.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
8hl pments, finished cement___
thous. bbl
1
431, 516 13QQ 984
21 787
28 771
34 101
36 266
38 910
39 176
38 941
41 745
28 346
5, 854. 0
88.5
1, 189. 9
352.8
8.9
487.8
8.5
531.3
553.8
7.7
589.2
6.4
588.3
6.6
570.5
7.3
625.0
6.8
501.2
109 1
118 9
95 9
79.1
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
mil. standard brick.. 6,673.0
Structural tile, except facing
thous. sh. tons..
99.7
Sewer pipe and fittings, vitrified
do~_
1,454.1
Faclng tile (hollow), glazed and unglazed
mil. brick equivalent..
96.9
Floor and wall tile and accessories, glazed and un273 2
glazed
mil sq ft
Price Index, brick (common), f.o.b. plant or
N.Y. dock..
_
1967=100
143.5
8.0
101 6
112 9
6.3
6.5
235 6
20 3
160 5
155 0
82 5
115 5
5.5
76.5
65 3
5.8
7.3
4.7
4.9
6.4
21 5
18 3
18 5
r 19 1
18 6
22 7
167 5
168.7
168 7
170 9
171 7
111 1
114 7
7.5
6.0
7.5
6.4
7.2
7.0
20 6
19 7
19 2
20 2
20 1
20 3
155 4
156 0
159 9
160 7
163 0
165 6
170 1
69 2
103 9
173 2
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments
thous. $.. 543,382
466, 671
85,730
105,183
131, 143
144, 615
do
132,541
-do.. _ 410, 841
76, 253
390, 418
15, 522
15, 026
20, 172
110, 971
25, 533
119, 082
Sheet (window) glass, shipments
Plate and other fiat glass, shipments
Glass containers:
Production
thous. gross
Shipments, domestic, total
Narrow-neck containers:
Food
Beverage
Beer
Liquor and wine .
280, 397 ' 282 671 f 22 882
22 984
22 937
24 221
25 300
25 279
25 220
22 603
23 764
25 350
29 424
23, 802
23 439
26963
22924
19 947 '23 843
24 H8
26 170
23,863
20,967
22, 212 '22,590
21 546
31 750
2 026
4 429
1 679
2 892
7 714
6, 962
2 627
do .._ 273,709
278, 705
24,491
25, 268
64, 416
76, 835
23, 369
1 848
5,196
58, 896
107
30,231
4,326
25, 779
37 500
37, 666
40 718
thous. sh. tons.. 811,999 1 3 10,120
do
310,993
3 8, 966
2,190
3
3
2, 320
2 151
3 2, 791
32 444
33 2, 773
2, 366
3865
3
3
1 249
3
1, 537
3 1, 474
3396
do
do
do
do
65, 631
66, 605
22, 568
Wide-mouth containers:
Food (Inch packer's tumblers, Jelly glasses,
and fruit Jars)
thous. gross. . 59,709
Dairy products
do
148
Narrow-neck and Wide-mouth containers:
Medicinal nnd toilet
do
Chemical, household and industrial
do
Stocks, end of period
90,157
70,208
.
do
4,035
21, 268
1 983
5 127
6 606
2 020
2 185
5 894
6 654
1 927
2 128
6 336
7 489
1 994
2 248
7 710
7 894
1 877
4,452
9
4, 345
4,713
7
5,004
10
1,867
2 227
2 070
40 817
39 655
5,794
1 805
297
7
288
1 590
1,643
r
1 965
7,260
1 801
2 929
4 723
6,512
1 906
2
4
6
2
009
762
365
320
5,481
2 060
6,722
8
4,270
6
4,829
9
5,581
4,681
7
4,448 ' 64, 936
(6)
10
4,564
7,758
2 060
9
2 514
1 897
2 170
2 435
2 091
310
2,097 '2,508
292
'483
2,257
369
3,334
463
38 139
33 553
34 599
35 910
38 595
40 369
37, 666 '38 598
40 815
35, 372
314
39
451
2 978
5 280
310
361
11
380
4,747
5,785 '4,422
6,000 r 6, 402
1,937
1 874
6,222
GYPSUM AND PRODUCTS f
Production:
Crude gypsum
Calcined
Imports, crude gypsum
Sales of gypsum products:
Uncalcined
.. . ..
Calcined:
Industrial plasters
.
Building plasters:
Regular basecoat
All other (Incl. Keene's cement)
Board products total
Lath _
Veneer base .
Gypsum she Q thing
Regular gyps um board
Type X gypsum board
Pre decorated \vallboard
do ..
2,006
787
3 7, 424
3 5, 448
1,189
do
5,262
4,878
723
1 245
1,343
1,451
379
do
322
293
66
74
73
79
26
215
416
42
89
10 804
2 333
44
90
47
96
12 852
176
360
2 608
9 408
2 421
8 214
1 790
1,737
1 980
51
85
56
2,247
462
35
43
85
2,929
49
79
56
2,250
462
33
13
21
901
14
23
17
686
149
12
526.3
48 5
512.7
47 5
do
do
mil sq ft
do
do
do
do
do
do
260
359
237
168
182
292
198
127
40
59
37
433
26
2 934
42
69
49
434
33
TEXTILE PRODUCTS
FABRIC (GRAY)
Knit fabric production off knitting machines (own
use, for sale, on commission) , qtrly*
mil. lb_. 2,011.3
Knittmg machines active last working day* thous
46.6
1, 955. 0
47.5
415.3
47.0
Woven fabric (gray goods), weaving mills: \
Production total 9
mil linear yd
11, 054
9,777
639
2833
749
Cotton
do
2375
4,987
286
4,326
345
Manmade
fiber
do
5,977
346
2449
397
5,356
1,219
1,099
1, 261
1,191
Stocks, total, end of period 9 cf
do
1,290
Cotton
do
519
548
489
510
560
Manmade
fiber
do
695
707
605
676
725
1,892
1,700
1,961
Orders, unfilled, total, end of period 9 Ifdo
2,590
1,797
Cotton
do
805
718
1,144
806
713
1,072
1,414
969
Manmade
fiber
_
do
1,139
1,071
COTTON
Cotton (excluding llnters):
Production:
GinnlngsA—
thous. running bales.. * 11,328 s 8, 174 *11,328
Crop estimate
thous. net weight bales (D__ * 11, 537 « 8, 302 « 11, 537
400
455
J525
6,617
6,142
Consumption
thous. running bales_.
Stocks In the United States, total, end of period 9
9,100
7,323
8,210
9,544
11,486
thous. running bales..
9,092
7,315
8,202
11,476
9,528
Domestic cotton, total ..
.do
560
681
659
2,037
945
On farms and in transit
do
7,212
5,559
6,344
8,413
7,431
Public storage and compresses
do
1,199
1,199
1,196
1,026
1,152
Consuming establishments
do
r
s
Revised.
1 Annual total; revisions not allocated to the months or quarters.
Data
4
cover 5 weeks; other months, 4 weeks.
3 Excludes byproduct gypsum.
Crop for the
year 1974.
5 Crop for the year 1975.
« Effective January 1976, "dairy products" are
included in " Food, wide-mouth containers."
QBales of 480 Ibs.
New series. Source: BuCensus. Data cover warp and weft knit yard goods and knit
garment lengths, trimmings, and collars: no quarterly data prior to 1974 are available.
^Monthly revisions (1970-72) appear in "Woven Fabrics: Production, Stocks, and Unfilled
Orders," M22A—Supplement 3 (Aug. 1973), Bureau of the Census.
9 Includes data not
shown separately.
500.7
48.4
770
348
415
1,186
502
678
2, 135
881
1,240
2796
2354
2434
1,175
495
675
2,281
935
1,327
30
169
477
2527
505
814
364
442
1,168
498
665
2,398
984
1,390
808 2 1, 051
2447
349
2595
450
1,096
1,154
497
506
594
644
2,608
2,582
1,077
1,126
1,501
1,428
834
352
474
1,087
488
595
2,581
1, 019
1,531
882
2980
373
2388
502
2582
1,099 ' 1, 140
528
489
'606
605
2,590 ' 2, 551
1,144
1,116
1,414 ' 1, 403
373
2,766
5,802
7,618
8,072
531
2683
550
2624
570
903
375
518
1,124
488
630
2,590
1,134
1,424
559
5 8, 174
5 g 302
2714
6,949
8,058
8,706
9,544
6, 575
5,481 13, 662 12,702 11,775 10,618
6,932
8,041
8,689
9,528
6,566 5,464 13, 646 12,684 11,759 10,608
284
710
698
945
3,573
6,721
275
9,131 8,728
529
5,364
7,431
6,870 6,114
4,045 6,000
4,865
4,063 3,430 2, 919
1,284
1,121
1,217
1,152
1,035
1,037
993
1,172
1,126
1,085
d*Stocks (owned by weaving mills and billed and held for others) exclude bedsheeting,
toweling, and blanketing, and billed and held stocks of denims.
1976, data are shown on a monthly basis.
SURVEY OF CURRENT BUSINESS
May 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1974
1 1975
Annual
S-39
1976
1975
Mar.
Apr.
May
June
July
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
TEXTILE PRODUCTS— Continued
C OTT ON— Continued
Cot ton (excluding linters)— Continued
Exports
... _ thous. running bales
5,170
Imports
- _ .-thous. net-weight 0 bales
46
Price (farm), American upland
cents per Ib... U2.7
Price, Strict Low Middling, Grade 41, staple 34
(1^1 6") average 10 markets* .
cents per Ib
U1.7
3,840
50
850.1
346
1
33.5
371
4
35.4
364
5
36.5
392
4
38.9
40.6
325
1
43.5
258
19
46.8
226
1
49.8
176
1
49.7
237
6
50.0
214
3
49.9
141
3
49.8
381
37
50.4
50.2
853.1
37.8
40.4
41.7
42.8
45.6
48.4
50.7
50.4
50.9
55.1
57.2
57.0
55.5
57.2
16.8
8.5
6,9
.346
3.5
16.8
8.5
7.2
.360
3.7
16.8
8.4
28.2
.328
24.1
17.0
8.4
7.8
.392
3.9
16.9
8.3
8.1
.403
4.0
17.1
8.4
2 10.5
.421
25.2
17.1
8.3
8.4
.418
4.1
17.1
8.0
29.4
.378
24.4
17.1
7.9
8.7
.435
4.0
'17.2
7.9
8.6
'.428
3.9
17.1
7.9
2 10.8
.431
25.0
'10.8
'11.6
'15.2
' 12.3
'13.3
'12.8
'12.5
'15.9
13.3
12.9
14.0
'5.7
'5.6
'5.2
'5.3
'4.8
'4.9
'5.5
5.0
4.8
4.6
.53
45.6
22.9
.48
37.5
29.8
'.42
38.1
40.6
'.40
41.0
43.9
.38
49.8
63.9
.40
41.6
69.5
.34
39.9
77.5
.38
42.8
75.7
.37
41.6
60.9
.32
54.6
76.1
.26
.27
356
COTTON MANUFACTURES
Spindle activity (cotton system spindles) :
17.3
17.1
Active spindles, last working day, total
mil..
16.7
16.8
8.0
8. 8
8.6
Consuming 100 percent cotton
do
8.6
106.2
93.2
5.7
Spindle hours operated all fibers total
bil
«7.9
.352
.408
.287
.314
Average per working day
do
55.5
2.9
46.5
»4.0
Consuming 100 percent cotton
do
Cotton cloth:
r
Cotton broadwoven goods over 12" in w idth:
4,714
902
4,095
Production (otrly )
mil lin yd
Orders, unfilled, end of period", as compared with
avg. weekly production
No. weeks' prod.. 313.8 r 3 12. 3 '11.9 '12.5
Inventories, end of period, as compared with
33.9
'7.2
'35.9
'6.6
avg. weekly production
No. weeks' prod..
Ratio of stocks to unfilled orders (at cotton
3.30
' 3 . 50
'.61
.53
mills) , end of period
488.3
43.8
43.8
Exports, rawcottonequiv-thous.net-weight0bales 531.5
568.4
25.0
487.1
27.6
Imports raw cotton equiv
do
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly. total
mil. lb_. 8,085.3 7,162. 4 1,230.7
Filament yarn (rayon and acetate)
do
533.4
366.1
64.3
Staple incl tow (rayon)
do
645.4
370. 9
52.9
Noncellulosic, except textile glass:
Yarn and monofilaments
_ _ _do
, 443. 0 3,208. 9 s 566. 5
2,780.6 2, 676. 4
Staple incl tow
do
424.6
682.9
Textile glass
fiber
do
540.1
122.4
Fiber stocks, producers', end of period:
Filament yarn (rayon and acetate)
mil. lb._ 57.5
618.6
45.4
Staple, incl. tow (rayon)
do
51.2
73.9
61.3
Noncellulosic fiber, except textile glass:
392.3
Yarn and monofilaments
do
5280.6 5331.6
232.1
321.3
Staple incl tow
do
298.0
98.1
102. 0
110.9
Prices, manmade fibers, f.o.b. producing plant:
.61
.59
Staple' Polyester 1 5 denier
$ per Ib
.61
.61
1 18
1.32
Acrylic (spun), knitting 2/20, 3-6 D
do
1.24
1.22
U.28
Manmade fiber broadwoven gray goods ratio:
Manmade fiber and silk broadwoven fabrics:
Production (qtrly ) total 9
mil. lin. yd
Filament yarn (100%) fabrics 9
do
Chiefly rayon and/or acetate fabrics
do
Chiefly nylon fabrics
do
Spun yarn (100%) fab., exc. blanketing 9~_do
Polyester blends with cotton
do
Filament and spun yarn fabrics (combinations
and mixtures)
mil lin yd
Manmade fiber manufactures:
Exports, manmade fiber equivalent*
mil. lbs__
Yarn tops thread cloth
do
Cloth, woven
_ _ .do
Manufactured prods., apparel, furnishings__do__
Imports, manmade fiber equivalent*
do _
Yarn tops thread cloth
do
Cloth woven
do
Manufactured prods., apparel, furnishings _ - d o _ _
Apparel, total
._..do__
Knit apparel
do_.
WOOL AND MANUFACTURES
Wool consumption, mill (clean basis) :
Apparel class
mil Ib
Carpet class
do
Wool imports, clean yield
do
Duty-free (carpet class)
do
Wool prices, raw, shorn, clean basis, delivered to
U.S. mills: cf
Domestic— Graded territory, 64's, staple iy±"
and up_ ._
cents per Ib
Australian, 64's, Type 62, duty paid
do
Wool broadwoven goods, exc. felts:
Production (qtrly.)
mil lin yd
3.20
5,923.3
1,962.7
431.5
346.0
3,308. 8
294.5
2,381.2
3.33
.43
.44
34.3
32.7
1,695.7
101.7
80 2
.58
1,164
1,051
979
6
87. 0
105 8
6
781 5
605 4
126 9
923.4
791 6
139 0
925.8
854.8
151.8
34.0
55.3
619.8
44.9
618.6
51. 2
255 5
233 0
102 4
266.9
220 2
95 0
280 6
232.1
102 0
.56
.56
.56
82.7
132.0
.58
.58
.58
1.40
.24
1.24
1.27
1.27
1.26
1.36
1.40
.37
.33
.30
.30
.28
.23
.38
5, 296. 2 1,125.5
1, 688. 2
407.2
325.7
75.7
279. 0
73.1
3, 054. 0
615.8
172.5
38.7
2, 373. 4
461.4
1,278.8
410.5
90 7
76 8
736 5
38 8
569 3
.58
.25
1, 522. 6
462.0
82.7
63.2
894.9
51.9
704.8
1,369. 3
408 5
76 6
65 9
806 8
43.1
637 9
83.0
329.8
257.1
49.8
390. 73
224. 11
150. 34
166. 63
371. 25
76.22
55.71
295. 03
252. 00
175. 34
323. 73
188. 43
142. 89
135. 30
401. 70
70.62
55.41
331. 08
289. 00
194. 89
24.50
14.80
11.37
9.70
28.76
5.04
3.90
23.72
20.11
13.77
31.56
18.41
12.50
13.14
27.85
5.76
4.44
22. 09
18.42
12.28
27.85
14.88
11.89
12.97
30.03
5.30
3.98
24.73
21.17
14.44
25.73
14.40
11.25
11.33
35.69
5.01
3.84
30.68
27.38
18.47
24.67
14.01
10.80
10.66
40.32
5.92
4.61
34.40
30.70
21.35
27.07
16.07
12.00
11.00
37.93
5.69
4.78
32.24
28.81
19.83
29.20
17.03
12.87
12.17
37.97
5.74
4.31
32.23
28.79
19.70
32.31
18.70
14. 89
13.61
41.04
6.65
5.23
34.39
31.17
20.51
28. 62
16.37
12.57
12.24
35.15
6.90
5.47
28.25
24. 50
16.59
28.55
16. 92
12.50
11.64
33.81
6.52
5.24
27. 29
23.00
14.24
26.13
15.44
10. 95
10. 69
35. 97
7.48
5.86
28. 49
23. 85
15.57
27.22
15.77
10. 99
11.45
29.44
5.70
4.56
23.74
20.31
12.94
32.09
18.54
13.65
13.55
36.28
6.99
5 22
36.28
25.24
15.31
74.8
18.5
26.9
15.2
94.1
15.9
33.6
17.0
6.5
1.2
1.7
1.2
>8.4
7.7
1.1
2.2
1.3
7.6
1.0
2.9
1.9
28.1
21.2
8.1
1.3
2.9
1.3
4.9
2.5
7.8
1.3
4.0
1.9
29.3
2.4
1.5
8.1
1.7
2.4
1.0
2 10.3
2.1
1.4
8.9
1.2
5.8
1.2
8.7
1.2
5.3
1.2
2 11.9
2 1.3
5.6
2.1
176.0
242.8
150.2
205.8
113.8
209.0
134.0
211.2
150.6
219.6
155.6
209. 0
153.8
206.8
171.2
204.3
172.5
198.5
172.5
197.3
172. 5
206.0
177.5
205.0
81.0
78.9
17.3
54.0
21.7
19 4
70 3
20 4
21.5
21.3
4.4
1.5
177.5 ' 177. 5
206.0
205.5
r 173. 5
•p 175.5
21.7
FLOOR COVERINGS
Carpet, rugs, carpeting (woven, tufted, other), shipments, quarterly*
mil. sq.yds
939.1
175.7
837.3
1
' Revised.
Season average.
2 For 5 weeks; other months, 4 weeks. 3 Monthly
average.
< Less than 500 bales.
« Beginning 1st qtr. 1975, quarterly data omit production and stocks of saran and spandex yarn; for 1974 and 1975, such production (included in
annual
data)
totaled
11.9
and
11.7
mil.
Ibs.
« Acetate only.
? por n months.
8
Season average to Apr. 1,1976.
S
es Cotton
4. *S^ ^? '
market price (U.S. Dept. of Agriculture) available monthly back
to 1947. Manmade fiber gray goods (owned by weavmer mills) ratio from Amer. Textile
Manufacturers Institute, based on BuCensus data; manmade fiber manufactures exports
225.0
223.8
212.9
and imports from U.S. Dept. of Agriculture (ERS), based on BuCensus data—available
back to 1960. Exports and imports, originally reported in varying units, are converted into
approximate quantities of manmade fiber consumed in their manufacture (including an
adjustment for waste). Not included are raw (unmanufactured^) fibers and imports of certain
textured yarns. Carpet shipments (BuCensus) revised quarterly data back to 1968 are
available.
9 Includes data net shown separately.
(DNet-weight (480-lb.) bales.
cf Effective Jan. 1976, specifications for the price formerly designated fine good French
combing and staple have been changed as shown above. Effective with the May 1976 SURVEY,
the foreign wool price is quoted including duty.
SURVEY OF CUKRENT BUSINESS
S-40
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1975
1975
1974
Annual
May 1976
Mar.
Apr.
June
May
July
1976
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
17 654
20 811
Apr.
TEXTILE PRODUCTS—Continued
APPAREL
Hosiery, shipments.. _ _
thous. doz. pairs . 217,905
Men's apparel cuttings:
Suits J
...
. .thous. units 1 16, 754
Coats (separate), dress and sport!
do.. i 19, 098
Trousers (separate) , dress and sport t
. . do i 158, 284
Slacks (jeans-cut), casual* f
thous. doz 1i 12, 294
Shirts, dress, sport, inc. knit outerwear J _ _ do
36, 437
225, 514
18, 488
18, 258
17, 022
21, 297
20, 154
22, 844
20, 347
21,806
19 070
16, 853
17 790
14, 380
10, 599
92, 685
12, 343
28, 113
1,031
946
7,137
1,267
2,040
1,096
1,101
7,464
1,117
2,348
1 200
982
7,147
993
2,295
1 199
876
7,229
1 045
2 253
894
734
6,605
818
1,891
1 315
745
8,171
926
2,466
1 211
776
8,975
1 039
2 490
1 489
1,023
9,196
1 212
2 962
1 364
816
8,009
1 088
2 561
1 227
875
6,667
968
2,149
1 478
1 052
9,567
1 017
2 629
1 396 1 458
1,024
1,021
8,831 10, 112
1 056 1 252
2,856
2,736
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders, new (net), qtrly. total
mil. $
U.S. Government
!__ __
do
Prime contract
-_ __ __
do
Sales (net), receipts, or billings, qtrly. total-.do_.
U.S. Governmentdo
32, 704
19,390
30, 239
26, 849
15, 196
28, 815
18,606
26, 456
29, 205
17, 211
6,530
3,882
6,010
6,879
3,814
5,655
3,472
5,002
7,325
4 149
8 488
5 713
7,749
7,516
4 771
8 142
5,539
7,695
7,485
4,477
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. $._
35, 516
20, 889
15, 489
3, 902
35, 126
22, 284
15,499
3,580
35,167
20,957
14, 893
3,926
33, 497
20,280
13, 990
3,744
34,469
21,222
14,171
3,876
35, 126
22, 284
15,499
3,580
6,643
6,315
6,553
6,041
6,491
6,315
3,591
4,095
3,572
3 760
3,956
4,095
4,976
65, 573
3,360
5,062
60,480
i 3, 200
539.2
6,595
460.6
442.2
5,381
215.3
496.6
6,151
319.5
529.6
6,071
352.9
415.4
4,689
190.7
336.4
4,318
210.4
291.2
3,379
237.6
430.7
4,966
316.3
301.2
3,677
177.7
456.2
5,512
224.7
264.5 ' 306. 1
3,162 r 3, 926
160.1 229.0
thous..
do
do ..
.do
do
do
10, 059
9,191
7,331
6,721
2,727
2,470
8,985
8,076
6,713
6,073
2,272
2,003
652.4
571.3
492.6
436.8
159.8
134.6
772. 3
691.6
586.2
529.9
186.2
161.7
807.2
721.4
612.6
555.2
194.6
166.2
840.9
753.7
632.1
571.3
208.8
182.3
681.7
624.1
504.5
466.5
177.2
157.7
662.7
606.7
484.6
447.9
178.2
158.8
896.7
812.9
667.5
605.7
229.1
207.2
981.8
885.1
745.6
673.4
236.1
211.6
801.7
714.0
605. 9
538.4
195.8
175.6
772.9
698.9
579.5
528.2
193.4
170.6
855.9
797.9
647.4
606.1
208.6
191.8
Retail sales, new passenger cars:
Total, not seasonally adjusted—.
thous..
Domestics A
do
Imports A . ...
do
Total, seasonally adjusted at annual ratef mil
Domestics At
.-do
8,867
7,454
1,413
8,643
7,053
1,590
670
524
146
7.9
6.3
1.6
660
518
142
7.6
5.9
1.7
741
603
138
8.0
6.4
1.6
771
619
152
8.3
6.6
1.7
794
637
157
9.3
7.6
1.7
685
534
150
9.5
7.8
1.7
727
591
136
8.8
7.2
1.6
889
774
115
9.2
7.7
1.5
744
655
89
8.7
7.5
1.2
701
600
102
9.4
8.0
679
588
91
9.6
8.4
758
651
107
10.2
8.9
947
816
131
10.9
9.5
914
788
126
10.3
8.9
1,672
1,755
1,419
1,502
1,482
1,360
1, 568
1,440
1,584
1,437
1,602
1,444
1,466
1,487
1,436
1,637
1,513
1,664
1,484
1,631
1,443
1,541
1,419
1,502
1,520
1,476
1,567
1,461
1,587
1,464
1,609
1,482
2.6
2.6
2.9
2.7
2.6
2.3
2.5
2.8
2.5
2.4
2.3
2.1
2.0
1.8
2.0
640. 30
550. 81
223.47
60.57
52.11
19.53
56.85
49.11
20.83
58.20
52.23
22.44
56.70
50.72
23.04
40.37
35.46
19.93
36.22
33.35
17.99
53.60
49.61
14.85
64.69
54.72
18.44
74.21
64.90
15.29
59.49
43.95
20.27
45.45
35.38
15.42
51.87
44.32
15.84
65.01
54.84
17.22
2, 074. 7
733.8
466.3
204. 91
92.55
39.41
166. 17
70.80
33.93
178. 88
72. 05
37.14
177. 15
64.96
41.04
176. 78
46.02
32.43
168. 89
47.53
33.71
139. 41
56.16
32.95
177. 92
74.01
40.54
179. 64
66.41
38.70
215. 93
61.93
58.65
242. 63
62.15
69.24
6,049
3,132
6,230
3,377
730
134
6,869
3,378
633
183
5,818
2,610
910
121
5,671
2,842
204
16
5,261
2,631
451
49
5,616
3,137
397
78
7,680
4,489
960
112
4,904
2,719
967
181
5,725
3,503
1,020
161
Aircraft (complete):
Shipments
.
Alrframe weight
Exports, commercial
.
._
do
. thous. Ib
mil $
437.2
4,780
258.8
MOTOR VEHICLES
Factory sales (from plants in U.S.), total
Domestic ...
.
Passenger cars, total
Domestic
_
Trucks and buses, total
Domestic . _
Retail inventories, new cars (domestics), end of
period: A
Not seasonally adjusted
thous..
Seasonally adjustedf ..
do
Inventory-sales ratio, new cars (domestics) At
2.6
ratio..
Exports (Bureau of the Census):
Passenger cars (new), assembled
thous.. 600. 90
516. 59
To Canada
do
214. 44
Trucks and buses (new), assembled
do
Imports (Bureau of the Census):
2, 572. 6
Passenger cars (new), complete units
.-do
817.6
From Canada total
do
660.1
Trucks and buses! .
do
Truck trailers and chassis, complete (excludes
detachables) , shipments ©
number
Vans
.
do
Trailer bodies (detachable), sold separately.. do
Trailer chassis (detachable), sold separately. .do
•207,883
137,479
i 16, 359
14, 922
73,063
39, 774
18,072
2,936
Registrations (new vehicles):©
Passenger cars
Imports. Incl. domestically sponsored
Trucks
i 44 8, 701
i 4 1,369
4
4
4
thous
do
do
i 2, 657
226
8, 262 3 635. 4 3 581. 3
1, 501 3 149. 0 s 126. 4
2, 397 3177.6 3 176. 8
4
4
4
656. 8
130. 8
197. 2
4
4
4
735. 6
137. 4
215. 7
4
4
4
764. 9
144. 7
222. 2
4
4
4
735. 8
150. 4
214. 9
4
4
4
738. 9
143. 6
219. 5
4
4
4
799. 2
120. 8
236. 3
4
632. 6
80. 7
191. 4
4
4
4
4
4
820. 9
100. 7
241. 2
914.0 1,110.4 21,063.6
844.0 1, 019. 9
682.0 834.5 2 793. 7
630.1 767.8
232.0 275.8 2 269. 9
213.8 252.1
197. 78 250. 65
70.05 74.70
60.12 80.05
8,666
5,511
1,071
214
5,220 ' 8, 105
3,129 '4,704
'837
436
32
25
4
676. 7
89. 3
205. 0
4
634. 5
87. 3
194. 6
4
4
4
4
4
4
4
763. 9
102. 4
233. 3
RAILROAD EQUIPMENT
Freight cars (new) , for domestic use; all railroads
and private car lines (excludes rebuilt cars and
cars for export):
Shipments
number 167,038
Equipment manufacturers
do
i 63, 243
New orders..
do
i 97, 929
Equipment manufacturers
do
i 85, 276
Unfilled orders, end of period
do
90, 216
Equipment manufacturers
do
79,009
Freight cars (revenue), class 1 railroads (AAR):§
N uinber owned, end of period
thous
Held for repairs % of total owned
Capacity (carrying), total, end of mo.. mil. tons..
Average per car
tons
1,375
6.4
98.32
71.49
72,367
65, 845
33, 484
32, 259
40, 135
34,025
6,947
6,794
4,021
4,021
78, 191
67,472
5,836
5,332
1,485
1,485
73,389
63, 174
5,975
5, 434
1,813
1,813
68, 007
58, 333
6,741
6,275
631
631
60, 890
51, 682
1,359
8.6
99.09
72.89
1,368
7.0
98.21
71.78
1,363
7.2
98.04
71.92
1,366
7.5
98. 36
72.02
1,363
7.6
98.32
72.15
2
' Revised.
1 Annual total includes revisions not distributed
by months.
Estimate
4
of production, not factory sales.
s Excludes 2 States.
Excludes 1 State.
& Reflects
cancellation of cars previously ordered.
J Annual figures ("Apparel 1974" M23A74):
Survey was expanded and classifications changed; not comparable with data prior to 1973.
*New series. Data cover all types of men's jeans, but exclude dungarees, overalls, and
work pants.
9 Total includes backlog for nonrelated products and services and basic research.
4,782
5,116
4,545
4,074
2,498 5 2, 220
1,373
2,520
58, 239 54, 662
48, 477 45, 908
1,360
7.8
98.58
72.49
1,363
8.0
98.68
72.40
5,521
4,854
815
815
49, 612
41, 525
6,657
5,853
7,405
7,005
48, 540
40, 857
5,757
5,022
3,014
3,014
45, 741
38, 793
7,426
6,388
4,049
4,049
40,135
34, 025
1,362
8.2
98.70
72.47
1,357
8.5
98.53
72.59
1,358
8.6
98.81
72.77
1,359
8.6
99.09
72.89
5,102 4,787 5,555
4,069
4,819
4,429
4,275 1,587
1,867
1,666
1,587
1,525
39,172 ' 35,817 32, 161
30,985 r 28,348 25, 227
1,364
8.7
99.43
72.91
1,362
8.7
99.65
73.14
1,351
98.98
73.28
tRevised seasonally adjusted data (1971-74) are shown on p. 5 of the Mar. 1976 SURVEY.
ADomestics include U.S.-type cars produced in the United States and Canada; imports
cover foreign-type cars and captive imports, and exclude domestics produced in Canada.
lEffective Sept. 1973 SURVEY, data include imports of separate chassis and bodies.
eEffective Feb. 1974 SURVEY, excludes shipments of dollies and converter gear.
0Courtesy of R. L. Polk & Co.; republicaticn prohibited.
§ Excludes railroad-owned private refrigerator cars and private line cars.
INDEX TO CURRENT BUSINESS STATISTICS, Pages S1-S40
SECTIONS
General:
Business indicators
Commodity prices
Construction and real estate
Domestic trade
1"~?
8,,9
10,11
11-13
Labor force, employment, and earnings
Finance
Foreign trade of the United States
Transportation and communication
13-17
17-22
22-24
24-25
Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products; tobacco
Leather and products
25, 26
26
27-30
30
Lumber and products.
Metals and manufactures
Petroleum, coal, and products
Pulp, paper, and paper products
31
31-34
34-36
36, 37
Rubber and rubber products
Stone, clay, and glass products
Textile products
Transportation equipment
37
38
38-40
40
INDIVIDUAL SERIES
Earnings, weekly and hourly
15,16
Eating and drinking places
12,13
Eggs and poultry
3,8,9,29
Electric power
5,9,26
Electrical machinery and equipment
4,6,
7,9,14,15,20,23,24,34
Employment estimates
14
Expenditures, U.S. Government
19
Explosives
26
Exports (see also individual commodities)
1,3,22-24
Failures, industrial and commercial
7
Farm income, marketings, and prices
2,3,8,9
Farm wages
16
Fats and oils
9,23,29,30
Federal Government
finance
19
Federal Reserve banks, condition of
17
Federal Reserve member banks
17
Fertilizers
9,25
Fire losses
11
Fish
29
Flooring, hardwood
31
Flour, wheat
28
Food products . . . 1,4-6,8,9,11,14-16,20,22,23,27-30
Foreclosures, real estate
11
Foreign trade (see also individual commod.)
22-24
Foundry equipment
34
Freight cars (equipment)
40
Fruits and vegetables
8,9
Fuel oil
35,36
Fuels
4,8,9, 23, 34-36
Furnaces
34
Furniture
4,9,12-15
Advertising
11,16
Aerospace vehicles
40
Agricultural loans
17
Air carrier operations
24
Air conditioners (room)
34
Aircraft and parts
7,40
Alcohol, denatured and ethyl.
26
Alcoholic beverages
11,27
Aluminum
33
Apparel
1,4,8,9,11-16,40
Asphalt.
35,36
Automobiles, etc
1, 4, 6, 8, 9,11,12,20,23,24,40
Gas, output, prices, sales, revenues
Gasoline
Glass and products
Glycerin
Gold
Grains and products
Grocery stores
Gross national product
Gross national product, price deflators
Gross private domestic investment
Gypsum and products
Balance of international payments
Banking
Barley
Battery shipments
Beef and veal
Beverages
Blast furnaces, steel mills
Bonds, issued, prices, sales, yields
Brass and bronze
Brick
Building and construction materials
12
Hardware stores
Heating equipment. .
9,34
Hides and skins
9,30
Highways and roads.
10,11
Hogs.
28
Home electronic equipment
9
11
Home Loan banks, outstanding advances
11
Home mortgages
Hosiery
40
Hotels and motor-hotels
25
Hours, average weekly, aggregate
15
Housefiirnishings
1,4,8, 11,12
Household appliances, radios, and television sets.
4,
8,9. 12,34
Housing starts and permits
10
Building costs..
Building permits
Business incorporations (new), failures
Business sales and inventories
Butter
3
17,18
27
34
28
9,11, 22, 23,27
5-7
20, 21
33
38
4, 6,
7,11,31,38
10,11
10
7
5
27
Cattle and calves
28
Cement and concrete products
9,11, 38
Cereal and bakery products
9
Chain-store sales, firms with 11 or more stores. . .
13
Cheese
27
Chemicals
5,6,9,14-16,20,23,25,26
Cigarettes and cigars
30
Clay products
9,38
Coal
5,9,23,34,35
Cocoa
23,29
Coffee
23,29
Coke
35
Combustion, atmosphere, heating equipment
34
Communication
2, 20,25
Confectionery, sales
29
Construction:
Contracts
10
Costs
10,11
Employment, unemployment, hours, earnings. . 13-16
Fixed investment, structures
1
Highways and roads
10,11
Housing starts
10
Materials output indexes
11
New construction put in place
10
Consumer credit.
18
Consumer expenditures
1
Consumer goods output, index
4
Consumer price index
8
, Copper
33
* Corn
27
Cost of living (see Consumer price index)
8
Cotton, raw and manufactures
8,9,22, 38, 39
Cottonseed oil
.-.30
Credit, short- and intermediate-term
18
Crops
3, 8,27, 28,30, 38
Crude oil
5, 35
Currency in circulation
20
Dairy products
Debits, bank
Debt, U.S. Government
Deflators, GNP
Department stores
Deposits, bank
Dishwashers
Disputes, industrial
Distilled spirits
Dividend payments, rates, and yields
Drug stores, sales
3, 8,9,27
17
19
2
12,13
17,20
34
16
27
2,3, 20,21
12,13
5, 9,26
1, 35
38
26
19
8,9,22,27,28
12,13
1
2
1
9, 38
Imports (see also individual commodities)... 1,3, 23, 24
Income, personal
2, 3
Income and employment tax receipts
19
Industrial production indexes:
By industry
4, 5
By market grouping
4
Installment credit
13,18
Instruments and related products
4,6,14,15
Insurance, life
19
Interest and money rates
18
Inventories, manufacturers* and trade
5-7,11,12
Inventory-sales ratios
5
Iron and steel
4,9,11, 20, 23,31,32
Labor advertising index, stoppages, turnover
16
Labor force
13
Lamb and mutton
28
Lead
33
Leather and products
4,9,14-16, 30
Life insurance
19
Livestock, i
3,8,9, 28
Loans, real estate, agricultural, bank, brokers*
(see also Consumer credit)
11,17,18,20
Lubricants
35,36
Lumber and products
4,9,11,12,14,15, 20,31
Machine tools
34
Machinery
4,6, 7,9,14,15,20,23,24, 34
Mail order houses, sales
12
Manmade fibers and manufactures
9, 39
Manufacturers' sales (<OTT shipments), inventories,
orders
,
5-7
Manufacturing employment, unemployment, production workers, hours, man-hours, earnings. . . 14-16
Manufacturing production indexes
4, 5
Margarine
29
Meat animals and meats
3, 8,9,22, 23,28, 29
Medical and personal care
8
Metals
4-7,9,14,15, 20, 22,23,31-33
Milk
27
Mining and minerals
2,4, 5,9,14-16, 20
Monetary statistics
19, 20
Money supply
20
Mortgage applications, loans, rates
11,17,18,19
Motor carriers
24
Motor vehicles
1,4,6,8,9,11,20,23,40
Motors and generators
34
National defense expenditures
1,19
National income and product
1,2
National parks, visits
25
Newsprint
23,37
New York Stock Exchange, selected data
21,22
Nonferrous metals
4,6, 7,9,20,23,33
Noninstallment credit
18
Oats
Oils and fats
Orders, new and unfilled, manufactures*
Ordnance
Paint and paint materials.
Paper and products and pulp
27
9,23,29,30
7
14,15
9,26
4—6,
9,14-16,20,23,36,37
Parity ratio
8
Passenger cars
1,4,6,8,9,11,12,20,23, 24,40
Passports issued
25
Personal consumption expenditures
1
Personal income
,
2,3
Personal outlays
2
Petroleum and products
4-6,
8,9,14,15,20,23,35,36
Pig iron
31, 32
Plant and equipment expenditures
2
Plastics and resin materials
26
Population
13
Pork
28, 29
Poultry and eggs
,
3,8, 9,29
Price deflators, implicit, GNP
2
Prices (see also individual commodities)
8,9
Printing and publishing
4,14-16
Private sector employment, hours, earnings
13-16
Profits, corporate
2,20
Public utilities
2,5,10,20,21, 26
Pulp and pulpwood
36
Purchasing power of the dollar
9
Radio and television
Railroads
Ranges
Rayon and acetate
Real estate
Receipts, U.S. Government
Recreation.
Refrigerators
Registrations (new vehicles)
Rent (housing)
Retail trade
Rice.
Rubber and products (incl. plastics)
4, 11, 34
2,16,17,21,24,40
34
39
11,17,19
19
8
34
40
8
5,7,12-16,18
28
5,6,
9,14-16,23,37
Saving, personal
2
Savings deposits
17
Securities issued
20
Security markets
20-22
Services
1,8,14-16
Sheep and lambs
28
Shoes and other footwear
9,12, 30
Silver
19
Soybean cake and meal and oil
30
Spindle activity, cotton
39
Steel (raw) and steel manufactures
23, 31, 32
Steel scrap
31
Stock market customer
financing
20
Stock prices, earnings, sales, etc
21,22
Stone, clay, glass products
4-6,9,14,15, 20, 38
Sugar
23,29
Sulfur
25
Sulfuric acid
25
Superphosphate
25
Tea imports
29
Telephone and telegraph carriers
25
Television and radio
4,11, 34
Textiles and products
4,6,9,14-16,20, 23,38-40
Tin
33
Tires and inner tubes
9,12,13, 37
Tobacco and manufactures
5,6,8,14,15, 30
Tractors
34
Trade (retail and wholesale)
5,11,12,14-16
Transit lines, local
24
Transportation
1,2,8,14-16,20-22,24, 25
Transportation equipment
4,6, 7,14,15,20,40
TraveK
24, 25
Truck trailers
40
Trucks (industrial and other)
34, 40
Unemployment and insurance
U.S. Government bonds
U.S. Government
Utilities
13,17
17-21
finance
19
2, 5, 8,10, 21,22, 26
34
. . . 12,13
23, 29,30
...
8,9
17
Vacuum cleaners
Variety stores
Vegetable oils
Vegetables and fruits
Veterans* benefits
Wages and salaries
Washers and dryers
Water heaters
Wheat and wheat
Wholesale price indexes
Wholesale trade
Wood pulp
Wool and wool manufactures
Zinc.
flour
2,3,15, 16
34
J4
28
±'+'li n ,?
5,7,11,14-16
J6
v
»W
33
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