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MAY 1981 / VOLUME 61 NUMBER
SURVEY OF CURRENT BUSINESS
CONTENTS
THE BUSINESS SITUATION
1
National Income and Product Accounts Tables
5
Reconciliation and Other Special Tables
16
U.S. Department of Commerce
Malcolm Baldrige / Secretary
William A. Cox / Acting Chief Economist
for the Department of Commerce
International Transactions in Measures
of the Nation's Production
17
International Travel and Passenger Fares, 1980
29
Bureau of Economic Analysis
George Jaszi / Director
Selected Data on the Operations of U.S. Affiliates
of Foreign Companies, 1978 and 1979
35
Quarterly and Monthly Constant-Dollar
Manufacturing and Trade Inventories and Sales
53
Allan H. Young / Deputy Director
Carol S. Carson / Editor-in-Chief,
Survey of Current Business
Manuscript Editor: Dannelet A. Grosvenor
Managing Editor: Patti A. Trujillo
Staff Contributors to This Issue: Leo M. Bernstein,
Joan E. Bolyard, James C. Byrnes, Robert T. Clucas,
Edward F. Denison, Douglas R. Fox, Bruce T. Grimm,
Thomas M. Holloway, Mary W. Hook, Ned G. Howenstine, John Mon, Edward I. Steinberg, Joseph C.
Wakefield, Teresa L. Weadock.
CURRENT BUSINESS STATISTICS
General
SI
Industry
S22
Footnotes
S37
Subject Index (Inside Back Cover)
SURVEY OF CURRENT BUSINESS. Published monthly by the
Bureau of Economic Analysis of the U.S. Department of
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the Editor-in-Chief, Survey of Current Business, Bureau of
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PA., Pittsburgh 15222
1000 Liberty Ave. 644-2850
LA., New Orleans 7O130
432 International Trade Mart 589-6546
N. MEX., Albuquerque 871O2
505 Marquette Ave., N.W. 766-2386
P.R., San Juan OO918
659 Federal Bldg. 753-4555
MD., Baltimore 21202
415 IT.S. Customhouse 962-3560
\.Y., Buffalo 142O2
S.C., Columbia 29204
2611 Forest Dr. 765-5345
GA., Savannah 314O2
222 U.S. Courthouse & P.O. Bid?.
232-4321
HAWAII, Honolulu 9685O
300 AlaMoana Blvd. 546-8694
ILL., Chicago 60603
Rm. 1406 Mid Continental Plaza Bldg.
353-4450
IND., Indianapolis 46204
46 East Ohio St. 269-6214
111 XT. Huron St. 846-4101
UTAH, Salt Lake City 84138
125 South State St. 524-5116
VA., Richmond 23240
8010 Federal Bldg. 782-2246
WASH., Seattle 98109
Rm. 706 Lake Union Bldg. 442-5615
W. VA., Charleston 253O1
500 Quarrier St. 343-6181
WIS., Milwaukee 53202
517 E. Wisconsin Ave. 291-3473
the BUSINESS SITUATION
CVISED (45-day) estimates show
that real GNP increased 8% percent at
an annual rate in the first quarter of
1981, 2 percentage points more than in
the preliminary (15-day) estimates
(table 1). All of the major components
of GNP were revised up. The largest
revisions were in the change in business
inventories (upward revisions in manufacturing, trade, and other inventories)
and net exports (mainly an upward
revision in merchandise exports). The
increase in GNP prices as measured by
the fixed-weighted price index was
revised up from 9.9 percent to 10.2
percent.
An alternative measure of real GNP
can be derived within the framework of
the national income and product accounts by summing incomes earned in
the production of GNP and dividing
by the implicit price deflator for GNP.
This incomes measure increased 6%
percent at an annual rate in the first
quarter, about 2 percentage points less
than real GNP. In the fourth quarter
of 1980, the incomes measure had increased 5y2 percent, about 1% percentage points more than real GNP. Over
the two quarters, both measures increased at about, the same rate—6
percent. The differences in timing between the two measures are due to imperfections in the source data and
estimating techniques, including seasonal adjustment, on which the two
measures are based.
Corporate profits
Corporate profits from current production—profits with inventory valuation and capital consumption adjustments—increased $19% billion, to
$202% billion, in the first quarter of
1981, according to preliminary estimates.1 Profits had increased $5% bil1. Quarterly estimates in the national income and
product accounts are expressed at seasonally adjusted annual rates, and quarterly changes in them
are differences between these rates.
No July Revision of the NIPA's
The regular annual revision of the national income and product accounts
(NIPA's) will not be made this July because key source data will not be
available in time for incorporation. The key source data that will not be
available are: Preliminary tabulations for 1978 and 1979 and final tabulations for 1977 of corporate income tax returns from the Internal Eevenue
Service, the Annual Survey of Manufacturers for 1979 and Governmental
Finances for 1979-80 from the Census Bureau, and revised estimates of
farm income for 1978-80 from the Department of Agriculture.
Annual and quarterly estimates for 1980 published in the NIPA tables in
the April 1981 SURVEY OF CURRENT BUSINESS and annual and monthly
estimates for 1980 of personal income and outlays published in the statistical
("S") pages of the March 1981 SURVEY will not be revised until July 1982
unless source data become available that indicate the advisability of an
earlier revision. Estimates for 1977-79, forthcoming in National Income
and Product Tables, 1976-79, also will not be revised until July 1982.
lion and $8% billion in the fourth and
third quarters of 1980. The three increases restored profits to the level of
their previous peak, which was reached
in the fourth quarter of 1978.
Domestic profits of nonfinancial corporations more than accounted for the
first-quarter increase. They increased
$211/2 billion to $149% billion, following a $7 billion increase in the fourth
quarter (chart 1). Increases in real
gross domestic product of nonfinancial
corporations and profits per unit of real
product both contributed to the firstquarter increase in total profits. Unit
profits reflected an acceleration in the
increase in unit prices and a deceleration in the increase in unit costs, specifically unit labor costs.
About one-half of the first-quarter
increase in domestic profits of nonfinancial corporations was in the profits
of manufacturing corporations. Within
manufacturing, sizable increases were
registered with nondurable goods industries and in primary metals, machinery, and "other" durables. Larger
losses of motor vehicle manufacturers
reflected lower output of autos and
trucks as well as the costs of rebate
programs.
Profits of trade corporations increased sharply in the first quarter, as
did profits of the transportation, communications, and utilities group. Within
transportation, profits of railroad corporations increased substantially, reflecting an increase in revenue ton-miles
of freight carried, and losses of airlines
decreased despite a decline in revenuepassenger-miles,
reflecting
sharp
increases in fares.
Domestic profits of financial corporations declined $2 billion to $25i/2 billion
SURVEY OF CUERENT BUSINESS
in the first quarter, following an in- unincorporated foreign affiliates—were
1
crease of $1^ billion. The decline was $27 /£ billion in the first quarter,
more than accounted for by a swing unchanged from the fourth.
Disposition of pro-fits.—Before-tax
from profits to losses by savings and
profits increased $9 billion to $258i/2
loan associations. Earnings of Federal
Reserve banks, which are treated as billion in the first quarter, following an
part of corporate business in the na- increase of $12 billion in the fourth.
tional income and product accounts These profits exclude the two valuation
(NIPA's), and profits of other finan- adjustments, which are designed to
value inventories and fixed capital used
cial corporations increased.
Profits from the rest of the world— up in production at replacement costs,
measured as the net inflow of dividends the valuation concept underlying naand reinvested earnings of incorpo- tional income and product accounting,
rated foreign affiliates, and earnings of rather than at historical costs, the con-
May 1981
cept generally underlying business accounting.2 If, as in the first quarter, the
historical cost of inventories used up is
less than their replacement cost, profits
as measured by business exceed profit
as measured in the NIPA's by an
2. The capital consumption adjustment also
places the using up in production of fixed capital
on a consistent basis with respect to service lives
(85 percent of Internal Revenue Service Bulletin
F for equipment and nonresidential structures) and
depreciatioi^ormulaMstraighWiiie).
Domestic Nonfinancial Corporate
Business: Profits; Real Product; and
Price, Costs, and Profits per Unit of
Real Product
Billion $ (Ratio scale)
200
Table 1.—Revisions in Selected Component Series of the NIPA's, First Quarter of 1981
PROFITS BEFORE TAX WITH IVA AND CCAdj
(Annual rate)
150
Seasonally adjusted at annual rates
15-day
estimate
Percent change from preceding quarter at annual rates
45-day Revision
45-day Revision 15-day
estimate estimate
estimate
100
80
Billions of current dollars
60i
2,826.8
GNP
Personal consumption expenditures
Nonresidentialfixedinvestment ..
Residential investment
_ _
Change in business inventories
Net exports
Government purchases
Federal
State and local
-
_
_
- .-—
__-
2,853.8
27.0
14.9
19.3
4.4
1,805.4
314.7
116.3
-7.9
24.3
574.1
219.6
354.5
1,805.8
316.1
116.7
2.6
37.0
575.5
221.5
354.1
.4
1.4
.4
10.5
12.7
1.4
1.9
-.4
13.0
17.7
12.3
13.1
19.9
13.7
.1
2.2
1.4
11.6
15.1
9.5
12.7
19.0
8.9
1.1
3.9
-.6
.1
15.3
15.3
-.3
2,289.3
National income
16.3
Personal income
(Annual rate)
800
600
Dollars (Ratio scale)
3.0
PRICE, COSTS, AND PROFITS PER UNIT
OF REAL PRODUCT
0
1,721.8
1,721.9
365.1
202.6
364.8
-.3
6.1
49.4
5.8
2,317.7
Compensation of employees
Corporate profits with inventory valuation and capital
consumption adjustments
Other
,
_ „
.
Billions of 1972 $ (Ratio scale)
1,000r REAL PRODUCT
2,318.8
1.1
11.4
11.6
.2
2.0
\
Price
Billions of constant (1972)
dollars
1.0
GNP
*
Personal consumption expenditures
Nonresidential fixed investment
Residential investment
Change in business inventories
Net exports
Government purchases
Federal
State and local
__ _
1,509.2
1,516.0
6.8
6.5
8.4
957.8
161.7
50.7
-5.7
51.8
292.9
110.6
182.3
958.3
162.0
50.8
-2.3
53.9
293.2
111.0
182.2
.5
.3
.1
3.4
2.1
.3
.4
-.1
4.7
12.3
1.0
5.0
13.3
2.0
.3
1.0
1.0
4.4
12.5
-.1
4.8
14.3
-.5
.4
1.8
-.4
7.8
9.9
9.6
10.0
10.2
9.9
**
1.9
2.2
.3
.3
.8
Labor Cost
Nonlabor Cost
Index numbers, 1972= 100 1
GNP implicit price deflator
GNP fixed-weighted price index
GNP chain price index. .
187. 30
194.3
188.25
194.4
.95
.1
Profits Before Tax
With IVA and CCAdj
1. Not at annual rates.
NOTE.—For the first quarter of 1981, the following revised
or additional major source data became available: For
personal consumption expenditures, revised retail sales for
February and March, and sales and inventories of used
cars of franchised automobile dealers for February; for
nonresidential fixed investmwtf, manufacturers' shipments
of equipment for February (revised) and March, construction
put in place for February (revised} and March, and a partial
tabulation of business expenditures for plant and equipment
for the quarter; for residential investment, construction put
in place for February (revised) and March; for change in
business inventories, book values for manufacturing and
trade for February (revised) and March; for net exports
of goods and services, merchandise trade for February (re-
vised) and March, and revised net investment income and
other services receipts for the quarter; for government purchases of goods and services, Federal unified budget outlays
for March, and State and local construction put in place for
February (revised) and March; for wages and salaries, revised
employment, average hourly earnings, and average weekly
hours for February and March; for net interest, revised net
interest received from abroad for the quarter; for corporate
profits, domestic book profits for the quarter, and dividends
from abroad for the quarter; for ONP prices, the Consumer
Price Index for March, unit value indexes for exports and
imports for February and March, and residential housing
prices for the quarter.
r
.09
l . I I I I II
1975
76
77
78
79
Seasonally Adjusted
80
81
NOTE.— Price per unit is current dollar product divided by constant
dollar (real) product. Costs and profits per unit are respective
components of current dollar product divided by constant
dollar product.
U.S. Department of Commerce, Bureau of Economic Analysis
ai-s-
SURVEY OF CURRENT BUSINESS
May 1981
amount that is called inventory profits.
Inventory profits decreased $9 billion
to $39 billion in the first quarter, following an increase of $6*/£ billion in the
fourth. If, as in the first quarter, fixed
capital used up as measured by business
is less than that as measured in the
NIPA's, business profits exceed NIPA
profits by an amount that is equal to the
underdepreciation of the capital stock.
The profits attributable to underdepreciation decreased $1 billion to $17
billion in the first quarter, following a
very small decrease in the fourth.
Corporate profits taxes, which are
levied on profits including inventory
profits and profits attributable to underdepreciation, increased $5 billion to
$90i/£ billion in the first quarter, following an increase of $6^ billion in the
fourth. Dividends increased $2 billion
to $59% billion, following an increase
of $1 billion. Undistributed profits increased $2 billion to $108% billion, following an increase of $4 billion.
The Federal sector
interest paid accounted for over onehalf of the total increase. The large
increase in net interest reflected higher
interest rates on Federal securities and
$2% billion paid to the Penn Central
Transportation Company as part of a
settlement for the value of assets transferred by Penn Central to Conrail in
1976. Purchases increased $9% billion,
including $4 billion for agricultural
purchases by the Commodity Credit
Corporation. Transfer payments to
persons increased $4% billion, as increases in social security and food
stamp benefits were partly offset by a
decline in unemployment benefits.
Grants-in-aid to State and local governments declined almost $2 billion, due to
the discontinuation of grants to States
for general revenue sharing for 1981.
Subsidies less the current surplus
of government enterprises declined
slightly.
High-employment budget.—The Federal fiscal position- on a high-em-
The Federal Government deficit as
measured in the NIPA's declined $23%
billion in the first quarter of 1981 to
$44% billion, as receipts increased twice
as much as expenditures.
Receipts increased $47 billion, $14
billion more than in the fourth quarter
of 1980. Contributions for social insurance increased $20 billion, including
$16% billion due to the increase in the
social security taxable wage base to
$29,700 from $25,900 and in the combined employer-employee tax rate to
13.3 percent from 12.26 percent. Indirect business tax and nontax accruals
increased $11% billion, entirely due to
the windfall profits tax. Personal tax
and nontax receipts increased $10% billion and corporate profits tax accruals
increased $4% billion.
Expenditures increased $23 billion,
$3 billion less than in the fourth
quarter. A $12% billion increase in net
Table 2.—High-Employment Federal Receipts and Expenditures
1980
1979
1979
1980
IV
I
II
1981
III
IV
I*
1979
1979
1980
IV
Seasonally adjusted at annual rates
I
II
1981
III
IV
IP
Seasonally adjusted at annual rates
Billions of dollars
Receipts .
1980
Percentage of potential QNP
Expenditures
Transfer payments
__
_
Orants-in-aid to State and local governments
All other expenditures _ _ _ _ _
_ _
Surplus or deficit (— ), national income and
product accounts
_.
504.2
574.3
528.3
543.2
556.6
581.7
615.7
656.0
20.6
20.9
20.7
20.7
20.6
20.9
21.4
22.1
236. 4
77.0
29.8
161.1
274.0
79.6
41.8
179.0
253.9
78.4
30.1
165.9
253.9
84.7
32.4
172.3
268.6
72.0
40.0
176.0
278.9
78.6
44.2
179.9
294.4
83.1
50.4
187.7
302.3
84.3
61.6
207.8
9.6
3.1
1.2
6.6
10.0
2.9
1.5
6.5
10.0
3.1
1.2
6.5
9.7
3.2
1.2
6.6
9.9
2.7
1.5
6.5
10.0
2.8
1.6
6.5
10.2
2.9
1.8
6.5
10.2
2.8
2.1
7.0
506.5
_
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax accruals
Contributions for social insurance
592.6
535.3
560.3
578.2
602.9
628.8
652.8
21.6
21.0
21.4
21.7
21.9
22.0
206.6
80.2
219.6
240.8
87.6
264.2
218.6
84.7
232.0
224.8
85.2
250.4
227.3
86.8
264.1
253.7
87.2
262.1
257.4
91.1
280.3
261.7
89.3
301.9
8.4
3.3
9.0
8.8
3.2
9.6
8.6
3.3
9.1
8.6
3.2
9.5
8.4
3.2
9.8
9.1
3.1
9.4
8.9
3.2
9.7
8.8
3.0
10.2
-2.2
-18.3
-7.0
-17.1
-21.6
-21.2
-13.1
3.1
-.1
-.7
-.3
-.7
-.8
-.8
-.5
.1
20.7
21.4
Change from preceding period
Percentage points
Billions of dollars
63.1
Receipts
Personal tax and nontax receipts
Corporate profits tax accruals .
Indirect business tax and nontax accruals
Contributions for social insurance
Expenditures. _
__ _
Transfer payments
_
Grants-in-aid to State and local governments
All other expenditures
Surplus or deficit (-), national income and
product accounts
Preliminary.
70.1
17.4
14.9
13.4
25.1
34.0
40.3
0.5
0.3
0.1
0
-0.1
0.3
0.5
0.7
36.0
4.5
1.3
21.4
37.6
2.6
12.0
17.9
12.7
.4
.5
3.8
0
6.3
2.3
6.4
14.7
-12.7
7.6
3.7
10.3
6.6
4.2
3.9
15.5
4.5
6.2
7.8
7.9
1.2
11.2
20.1
.5
-.2
-.1
.2
.4
-.2
.3
-.1
.3
0
0
0
-.3
.1
0
.1
.2
-.5
.3
-.1
.1
.1
.1
0
.2
.1
.2
0
0
-.1
.3
.5
49.7
86.1
22.1
25.0
17.9
24.7
25.9
24.0
-.2
.9
.3
.4
.3
.2
.1
24.6
3.3
21.7
34.2
7.4
44.6
4.3
4.1
13.5
6.2
.5
18.4
2.5
1.6
13.7
26.4
.4
-2.0
3.7
3.9
18.2
4.3
-1.8
21.6
.1
-.2
0
.4
-.1
.6
0
.1
.3
0
-.1
.4
-.2
0
.3
.7
-.1
-.4
-.2
.1
.3
-.1
-.2
.5
-4.7
-10.1
-4.5
.4
8.1
16.2
.6
-.6
-.2
-.4
-.1
0
.3
.6
13.5
-16.1
0
NOTE.—These estimates differ from those published in the November 1980 SURVEY OF
CURRENT BUSINESS due to revisions of potential GNP by the Council of Economic Advisers
and the comprehensive revisions of the national income and product accounts.
SURVEY OF CURRENT BUSINESS
ployment budget basis moved from
a deficit of $13 billion in the fourth
quarter to a surplus of $3 billion in the
first (table 2). The surplus or deficit as
a percentage of potential GNP increased from - 0.5 percent in the fourth
quarter to 0.1 percent in the first—a
move toward more restrictive fiscal
position. Receipts as a percentage of
potential GNP increased 0.7 percentage
points due to percentage-point increases
in contributions for social insurance
and indirect business taxes. Expenditures as a percentage of potential GNP
changed little. These estimates differ
from those in the November 1980 SURVEY OF CURRENT BUSINESS due to revisions of potential GNP by the Council
of Economic Advisers and the comprehensive revisions of the national income
and product accounts.
Consumer installment credit
Consumer installment credit outstanding increased an average of $2.0
billion per month in the first quarter,
almost twice as much as in the fourth
quarter of 1980 (table 3). The March
increase of $3.1 billion was the largest
since September 1979, when the burden
of consumer credit, as measured by the
ratio of consumer installment credit
repayments to disposable personal income, was close to its all-time high. The
repayments ratio, which had fallen almost without interruption from 17.7
percent in the second quarter of 1979
to 16.3 percent in the fourth quarter of
1980, increased to 16.4 percent in the
first quarter.
Two-thirds of the first-quarter acceleration in installment credit outstanding was in automobile credit; extensions of automobile credit were up
sharply in February and March, reflecting the rebate-bolstered strength in auto
May 1981
Table 3.—Developments in Consumer Installment Credit
[Millions of dollars, seasonally adjusted]
1980
1981
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
23, 220
5,922
10, 347
22,093
5,533
10,302
22,349
5,550
10,341
26, 176
7,400
10,700
397
299
424
23, 997
6,068
10, 679
377
415
27,064
7,518
11, 143
27,365
7,544
11, 124
25, 991
7,117
10,953
27, 149
7,234
11,614
27, 059
7,237
11, 483
28,706
8,333
11,867
6,554
6,873
7,661
7,961
8,184
7,497
7,822
383
5,959
6,034
409
29,822
8,700
12, 071
7,956
8,097
8,410
Repayments ._ _ . 24, 891
24, 770
24,394
25, 196
25, 687
26,009
26,663
25, 152
25, 530
26, 190
26, 710
26, 714
Net
change
in
amount outstand-1,671 -2, 677 -2,045 -1, 199
ing
..
489
1,055
702
839
1,619
869
1,996
3,308
Extensions
Automobile
Revolving . _
Mobile home
Other
442
513
424
479
Mar.
641
Source: Federal Reserve Board.
sales (see the "Business Situation" in
the April SURVEY). To the extent
that the first-quarter acceleration in
credit outstanding is attributable to the
auto rebate programs, it, like the auto
sales it financed, may be regarded as
"borrowed" from future periods. However, non-auto credit outstanding also
accelerated in the first quarter—from
an average monthly increase of $0.8
billion in the fourth quarter to $1.1
billion—and the March increase of $1.4
billion was the largest since late 1979.
The first-quarter acceleration in
credit outstanding occurred despite
high and rising consumer interest rates.
The rate on 36-month new automobile
loans at commercial banks was 15.8 percent in February, up from 14.3 percent
in November 1980 and from 13.3 percent in February 1980. The rate on 24month consumer loans at commercial
banks (other than for the purchase of
automobiles or mobile homes) was 17.1
percent in February, up from 15.5
percent in November and from 14.7 percent in February 1980.
As protection against the increase in
the cost of acquiring deposits due to
rising interest rates, some banks have
recently begun to extend variable-rate
consumer loans. The interest rate on
these loans, like the rate on variablerate mortgages, is adjusted periodically, in response to changes in some
designated rate; in the case of consumer
loans, the designated rate generally is
the bank's prime lending rate or the
rate on 13-week Treasury bills. An increase in the rate will either extend the
maturity of the loan or increase the
consumer's monthly payment.
Because consumer loans have a shorter maturity than do mortgage loans,
protection against rising interest rates
is less important to banks in extending
consumer credit than in extending
mortgage credit, and thus far only a
small number of banks have begun to
extend variable-rate consumer loans.
Two factors that will slow the introduction of these loans are the effects of
State usury laws and the fear of consumer resistance. The latter should
wane in importance as variable-rate
mortgages become more common. These
mortgages may become more common
as a result of the late-April decision by
the Federal Home Loan Bank Board
to allow federally chartered thrift
institutions to issue mortgages with interest rates that vary as much as does a
designated index rate agreed upon by
the lender and borrower.
SUEVEY OF CUREENT BUSINESS
May 1981
National Income and Product Accounts Tables
The tables that follow are presented in eight groups, and the table numbers reflect these groups. The table numbers will also be used
in future publications presenting national income and product account estimates. The groups are:
1. National product and income
5. Saving and inve stment
2. Personal income and outlays
6. Product and income by industry
3. Government receipts and expenditures
7. Implicit price d eflators and price indexes
4. Foreign transactions
8. Supplementary table: Percent change from
preceding perio d for selected items
The abbreviations used in the tables are:
CCAdj Capital consumption adjustment
IVA
Inventory valuation adjustment
NIPA's National income and product accounts
p
Preliminary
r
Revised
1980
1979
1979
1980
I
IV
II
1981
III
IV
I'
1979
1979
1980
1980
IV
I
Seasonally adjusted at annual rates
1981
II
III
IV
I'
Seasonally adjusted at annual rates
Billions of dollars
Billions of 1972 dollars
Table 1.1-1.2.—Gross National Product in Current and Constant Dollars
Gross national product
2,413.9 2,626.1 2,496.3 2,571.7 2,564.8 2,637.3 2,730.6 2,853.8 1,483.0 1,480.7 1,490.6 1,501.9 1,463.3 1,471.9
1,510.9 1,672.8 1,582.3 1,631.0 1,626.8 1,682.2 1,751.0 1,805.8
Personal consumption expenditures.
Durable goods
Nondurable goodsServices
_
212.3
602.2
696.3
Net exports of goods and services
941.6
930.8
946.8
958.3
135.8
358.4
440.9
146.0
361.3
434.3
145.4
361.5
436.5
126.2
356.6
436.5
132.6
354.9
443.3
139.1
360.4
447.3
146.4
364.2
447.7
935.1
146.6
354.6
429.6
194.4
664.0
768.4
208.8
674.2
799.2
410.0
415.6
390.9
377.1
397.7
435.4
232.6
203.6
221.5
218.3
200.5
195.3
200.5
210.6
410.8
290.2
105.1
185.1
120.6
115.4
2.3
3.0
-.8
-4.4
3.6
413.1
297.8
108.2
189.7
115.2
110.1
2.2
3.0
2.5
1.5
1.0
383.5
289.8
108.4
181.4
93.6
88.9
1.8
2.9
7.4
6.1
1.3
393.2
294.0
107.3
186.8
99.2
94.5
1.7
3.0
-16.0
-12.3
-3.7
415.1
302.1
111. 5
190.7
113.0
107.6
2.2
3.1
-17.4
-14.0
-3.4
432.8
316.1
116.7
199.4
116.7
111.3
2.2
3.2
2.6
5.0
-2.4
222.5 ' 206.6
158.4
163.3
48.4
48.5
110.0
114.8
48.1
59.1
56.2
45.2
.9
.9
2.0
2.0
10.2
-2.9
-2.4
7.8
-.5
2.4
222.2
164.1
50.7
113.5
58.1
219.2
165.0
50.5
114.5
54.2
51.2
1.0
2.1
-.9
-1.4
.5
199.2
156.1
48.7
107.4
43.1
40.3
.8
2.0
1.3
.6
.7
200.2
155.5
46.8
108.8
44.7
41.9
.7
2.0
-5.0
-3.1
-1.8
207.6
157.0
47.8
109.3
50.6
47.5
1.0
2.0
-7.2
-5.6
-1.5
212.9
162.0
49.4
112.7
50.8
47.8
.9
2.1
-2.3
-1.1
-1.1
216.1
639.2
727.0
415.8
Fixed investment
_
Nonresidential
Structures
Producers' durable equipment..
Residential
Nonfarm structures..
Farm structures
Producers' durable equipment..
Change in business inventories
Nonfarm
_
Farm
237.3
725.2
843.4
919.3
220.9
661.1
749.0
211.9
675.7
785.2
395.3
398.3
279.7
96.3
183.4
118.6
113.9
1.8
2.9
17.5
13.4
4.1
Gross private domestic investment-
223.3
703.5
824.2
1,485.61,516.0
943.4
930.9
401.2
296.0
108.8
187.1
105.3
100.3
2.0
3.0
-5.9
-4,7
-1.2
54.9
1.1
2.1
-.7
-2.7
2.0
13.4
Federal..
National defense..
Nondefense
State and local
7.6
8.2
17.1
44.5
23.3
37.0
37.7
52.0
42.2
50.1
51.7
57.6
48.5
53.9
339.8
316.5
306.3
298.7
337.3
329.1
333.3
316.2
342.4
297.9
346.1
322.7
376.8
339.8
146.9
109.2
161.1
109.1
154.8
112.6
165.9
115.8
160.5
108.9
160.5
102.8
157.4
108.9
166.8
112.9
473.8
534.7
496.4
516.8
530.0
533.5
558.6
575.5
281.8
290.0
285.3
2S0.1
291.9
288.2
289.!
293.2
167.9
111.2
56.7
305.9
Government purchases of goods and services
23.3
281.3
267.9
Exports
Imports
189
9.
131.7
67.2
335.8
178.1
118.7
59.4
318.3
190.0
125.0
64.9
326.8
198.7
128.7
70.0
331.3
194.9
131.4
63.5
338.6
212.0
141.6
70.4
346.6
221.5
145.0
76.4
354.1
101.7
67.1
34.6
180.1
108.1
70.9
37.2
180.9
103.1
68.3
34.8
182.2
107.6
69.9
37.7
182.5
110.7
70.9
39.7
181.2
106.9
70.9
107.4
71.9
35.4
182.4
111.0
72.1
38.9
182.2
• 35.9
181.3
Table 1.3—1.4.—Gross National Product by Major Type of Product in Current and Constant Dollars
Gross national product
Final sales
Change in business inventories
Goods
Final sales
Change in business inventories
_
2,413.9 2 ,626 .1 2,496.3 2,571.7 2,564.8 2,637.3 2, 730. 6 2, 853. 8 1,483.0 1, 480. 7 1,490.6 1,501.9 1,463.3 1,471.9
1 485 6 1,516.0
2, 396. 4 2, 632. 0 2, 497. 1 2, 569. 1 2, 557. 4 2, 653. 4 2, 748. 0 2, 851. 2 1, 472. 9 1, 483. 6 1, 491. 3 1, 502. 8 1, 462. 0 1, 476. 9
— 7
7 4 —16 0 —17.4
25
_ g
10.2
—2 9
1 3 —5 0
26
17 5
—.9
—5 9
1, 492. 7 1, 518. 3
—7 2 —2 3
1 055.9 1 130 4 1 078 3 1 116 9 1 106 4 1 129 4 1 169 0 1 249 9
674.5
665 2
673.3
682.1
658 1
657.5
662 9
689 6
1 038 5 1 136 3 1 079 1 1 114 4 1 099 0 1 145 4 1 186 3 1 247 3 664 3
2.6
10.2
17.5
7.4 —16.0 -17.4
26
—5.9
—.8
668.1
-2.9
674 0
—.7
683 0
—.9
656 8
1.3
662.4
—5.0
670 1
—7.2
691.9
-2.3
502 7
507 3
-4.6
747.3
740.0
7.2
296 9
290.2
8.7
377.5
374.1
3.5
279.4
281.3
-1.9
385.7
386.8
-1.1
289 6
289.9
-.3
383.7
384.1
—.4
290 6
295.2
-4.6
391.4
387.7
3.7
270 8
270.1
.7
387.3
386.7
.6
274.6
278.4
-3.8
382.9
384.0
-1.1
281.8
281.5
.3
381.1
388.6
-7.5
290.0
293.2
-3.3
399.6
398.6
1.0
Services
Structures
1,097.2 1,229.6 1,142.8 1,178.6 1,205.6 1,249.0 1,285.3 1,316.7
276.4
252.8
258.9
260.8
266.0
275.1
276.2
287.1
678.0
130.6
695.7
119.8
684.9
132.4
690.7
129.1
690.6
114.6
699.9
114.5
701.7
\21.0
703.3
123.1
Addenda:
Gross domestic purchases J. —
Final sales to domestic purchasers L
2, 400. 5 2, 602. 8 2, 488. 7 2, 563. 5 2, 547. 7 2, 592. 8 2, 707. 3 2, 816. 8 1, 445. 3 1, 428. 7 1, 448. 4 1, 451. 8 1,411.6 1,414.3
2, 383. 0 2, 608. 7 2, 489. 5 2, 560. 9 2, 540. 3 2, 608. 8 2, 724. 6 2, 814. 1 1, 435. 1 1,431.7 1, 449. 1 1, 452. 7 1, 410. 4 1,419.2
Durable goods
Final sales
Change in business inventories
Nondurable goods—
Final sales
Change in business inventories
451 2
439.7
11.5
604.7
598.8
6.0
458 6
462 6
-4.0
671.9
673.7
-1.8
448 1
448 4
-.4
630.3
630.7
-.5
456 4
468 2
-11.8
660.5
646.2
14.3
444 6
441.3
3.3
661.8
657.7
4.1
456 5
464.9
-8.4
672.9
680.5
—7.7
476.7
476.0
.7
692.2
710.3
—18.1
1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic purchasers equals final sales less exports plus imports.
1, 437. 1 1, 462. 1
1, 444. 2 1, 464. 4
SURVEY OF CURRENT BUSINESS
May 1981
Table 1.5-1.6.—Gross National Product by Sector in Current and Constant Dollars
1980
1979
1979
1980
IV
I
II
1981
rv
III
I'
1980
1979
1979
IV
1980
I
Seasonally adjusted at annual rates
II
2,370.1
2, 046. 3
1, 974. 1
1,786.0
188.1
70.0
2.2
75.7
6.4
69.3
248.1
75.8
172.3
43.8
2,576.5
2,221.2
2, 153. 7
1,940.9
212.8
68.1
-.7
85.9
6.7
79.2
269.3
81.9
187.4
49.7
2,449.7
2,113.9
2, 043. 6
1, 846. 3
197.3
71.0
-.7
79.4
6.6
72.8
256.4
79.0
177.3
46.6
2,520.2
2, 176. 9
2, 106. 4
1,903.6
202.8
67.7
2.8
82.1
6.6
75.5
261.2
79.6
181.6
51.5
2,516.7
2, 166. 4
2, 100. 8
1,891.7
209.1
67.5
-1.9
84.4
6.7
77.7
265.9
80.5
185.4
48.1
2,586.9
2, 230. 0
2, 159. 1
1, 943. 1
216.0
67.9
3.0
86.9
6.7
80.2
269.9
80.7
189.3
50.5
2, 682. 0
2, 311. 4
2, 248. 6
2,025.3
223.3
69.4
-6.6
90.4
6.9
83.5
280.3
87.1
193.3
48.6
2,802.8
2, 423. 0
2, 350. 1
2i 120. 2
229.9
67.3
5.6
93.9
7.0
86.9
285.8
87.9
197.9
51.0
1,455.9
1, 258. 3
1, 222. 1
1, 094. 8
127.3
34.9
1.4
43.7
3.5
40.2
153.9
49.0
104.9
27.2
1,452.4
1,251.8
1,216.8
1,084.5
132.3
35.3
-.4
45.4
3.5
41.9
155.2
49.2
106.0
28.3
1,462.4
1, 263. 6
1, 228. 2
1, 099. 1
129.1
35.8
-.4
44.4
3.6
40.8
154.5
48.9
105.6
28.1
1,47,1.5
1, 271. 9
1, 233. 3
1, 103. 0
130.3
37.0
1.6
44.8
3.5
41.3
154.8
49.0
105.8
30.4
1,471.9 1,485.6
1979
1980
IV
1980
I
II
III
rv
1979
I'
1980
rv
1,488.6
1, 286. 6
1, 250. 1
1, 114. 6
135.5
33.5
3.0
46.7
3.4
43.3
155.3
48.9
106.4
27.3
1,109.4 1,123.3
1979
1981
1,516.0
1,443.4 1,458.9
1, 242. 3 1, 257. 5
1, 207. 6 1, 227. 9
1, 074. 6 1, 093. 7
133.0 134.2
33.1
33.2
1.7 -3.6
45.6
46.1
3.4
3.4
42.1
42.7
155.5 155.3
49.4
48.9
106.1 106.3
28.5
26.7
1,435.5
1,235.2
1, 198. 5
1, 066. 8
131.7
37.8
-1.1
44.9
3.5
41.5
155.4
49.4
105.9
27.8
Nonfarm less housing
Housing
Farm
_
Statistical discrepancy
Households and institutions
Private households
Nonprofit institutions
Govern ment
Federal
State and local
Rest of the world
_Addendum:
Gross domestic business product less housing. __ 1,858.2 2,008.4 1,916.6 1,974.1 1,957.3 2,014.0 2,088.0 2, 193. 1 1,131.0 1,119.5 1, 134. 4 1,141.6 1,103.5
1979
I'
Billions of 1972 dollars
2,413.9 2,626.1 2,496.3 2,571.7 2,564.8 2,637.3 2,730.6 2,853.8 1,483.0 1,480.7 1,490.6 1,501.9 1,463.3
Gross national product
rv
III
Seasonally adjusted at annual rates
Billions of dollars
Gross domestic product
Business
1981
1, 151. 1
1980
I
II
1981
III
I IV
Ir
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Billions of dollars
Billions of dollars
Table 1.7.—Relation of Gross National Product, Net National
Product, National Income, and Personal Income
Gross national product
2,413.9 2,626.1 2,496.3 2,571.7 2,564.8 2,637.3 2,730.6 2, 853. 8
Less: Capital
consumption
allowances
with
CCAdj
253.6 287.3 265.1 274.6 283.7 291.8 298.9 306.5
Capital consumption
allowances.
199.2 224. 1 208.1 215.6 220.3 226.9 233.7 240.9
-54.5 -63.1 -57.0 -59.0 -63.4 -64.9 -65.2 —65. 6
Less: CCAdj
n -Am n
Equals: Net national product. .
2,160.3 2,338.9 2,231.2 2,297.1 2,281.1 2,345.5 2,431.7 2,547.3
Less: Indirect business tax
and nontax liability... 188.4 212.3 193.5 198.9 206.3 215.8 228.0 94K o
Business transfer payH 2
10.5
10.9
9.4
9.8
10.1
10.6
ments
10.3
§6
-.7
2.8 -1.9
Statistical discrepancy —
2.2
-.7
3.0 -6.6
Plus: Subsidies less current
surplus of government
4.6
5.4
enterprises
6.3
2.7
3.1
3.7
3.1
1,963.3 2,121.4 2,031.3 2,088.5 2,070.0 2,122.4 2,204.8 2 289 3
' *
Less: Corporate profits with
196.8 182.7 189.4 200.2 169.3 177.9 183.3 200.3
IV A and CCAdj
202.6
143.4 179.8 156.5 165.4 175.3 185.3 193.3
Net interest.
Contributions for social
insurance
1S7.1 203.7 192.2 198.8 199.5 204.1 212.3 233. 7
Wage accruals less dis0
0
-.5
0
-.2
-.2
.5
bursements
.2
Plus: Government transfer
payments to persons- 239.9 283.8 253.3 261.6 270.3 300.1 303.1 3085
Personal interest income. 209.6 256.3 225.7 239.9 253.6 261.8 269.7 288*3
Personal dividend in58 n
54.4
56.1
50.1 52.4
54.2
55.1
48.6
come
Business transfer payn 2
10.9
10.5
9.8
ments .
9.4
10.1
10.3
10.6
1,943.8 2,160.2 2,032.0 2,088.2 2,114.5 2, 182. 1 2,256.2 2 318 7
Equals: Personal income
Billions of 1972 dollars
1
Table 1.8.—Relation of Gross National Product, Net Natioriai
Product, and National Income in Constant Dollars
Table 1.11.—National Income by Type of Income
National income
1,963.3 2,121.4 2,031.3 2,088.5 2,070.0 2,122.4 2,204.8 2,289.3
Compensation of employees.- . 1,460.9 1,5%. 5 1,518.1 1,558.0 1,569.0 1,597.4 1,661.8 1,721.9
1, 235. 9 1,343.6 1,282.4 1, 314. 5 1, 320. 4 1,342.3 1,397.3 1,442.4
Wages and salaries
Government and govern235.9 253.6 243.3 246.7 250.5 253.9 263.3 267.0
ment enterprises
1,000.0 1,090.0 1, 039. 1 1, 067. 9 1, 069. 9 1,088.4 1,134.0 1,175.4
Other .
vmcj. —
Supplements to wages and
225.0 252.9 235.7 243.5 248.6 255.0 264.5 279.5
salaries - Employer contributions
for
106.4 115.8 109.8 112.6 113.6 116.0 121.0 131.4
social insurance
118.6 137.1 126.0 130.9 135.1 139.1 143.5 148.0
Other labor income
Proprietors' income with IVA
131.6 130.6 136.3 133.7 124.9
129.7 134.0 131.8
and CCAdj
Farm
Proprietors' income with
IVA
CCAdj
AUJ-—
—
Nonfarm
Proprietors' income
IVA
CCAdj
Rental income of persons with
CCAdj
Rental income of persons
CCAdj
Corporate profits with IVA
and
CCAdj
30.8
23.4
29.5
25.7
23.3
22.1
22.5
18.8
36.6
-5.8
30.3
-6.9
35.7
-6.2
32.3
-6.5
30.2
-6.9
29.0
-6.9
29.6
-7.2
26.0
-7.2
100.7
105.2
-3.4
-1.0
107.2
112.7
-3.7
-1.9
106.8
112.2
-4.0
-1.5
107.9
114.8
-5.3
-1.6
101.6
105. 5
-2.0
-1.9
107.6
113.1
-3.5
-2.0
111.6
117.5
-4.0
-2.0
113.0
117.4
-2.5
-1.9
30.5
31.8
31.0
31.2
31.5
32.0
32.4
32.7
68.2
58.9
66.4
64.9
62.9
61.4
64.5
65.9
-28.3 -33.1 -30.4 -31.6 -33.0 -33.9 -33.9 —35. 5
196.8
182.7
Corporate profits with IVA.
212.7
199.8
Profits before tax
fronts tax liability
Profits after tax
DividendsUndistributed profits.
255.4
87.6
167.8
50.2
117.6
An
Gross national product
1,483.0 1,480.7 1,490.6 1,501.9 1,463.3 1,471.9 1.485.6 1'516'°
Less: Capital consumption allowances with CCAdj. 141.6 147.5 144.1 145.9 146.6 147.9 149.5 •I C1 O
1,341.4 1,333.2 1,346.5 1,356.0 1,316.6 1,324.0 1, 336. 11 364 8
Equals: Net national product. .
Less: Indirect business tax
and nontax liability
plus business transfer
payments less subsidies plus current surplus of government
143.5 149.0 145.7 147.5 147.2 149.2 151.9 153 o
enterprises
_
*n
-.4
-.4
1.6 -1.1
1.7 -3.6
Statistical discrepancy
1.4
CCAdj
r>
-15.9
189.4
204.5
200.2
215.6
169.3
186.9
177.9
183.3
202.6
195.9
201.0
219.5
249.5
85.2
164.3
57.7
106.6
258.7
90.4
168.3
59.6
108.7
-39.2
245.5 255.4 277.1 217.9 237.6
94.2
82.3 87.2
71.5
78.5
163. 2 168.2 182.9 146.5
159.1
56.0
51.6
53.9
55.7
56.7
107.2 116.6 128.9
90.7 102.4
-45.7 —50.8 —61.4 —31. 1 —41. 7
-17.2 -15.1 -15.4 -17.6 -17.9 -17.8
-16.9
Net interest
143.4
179.8
156.5
165.4
175.3
185.3
193.3
200.3
Addenda:
Corporate profits after tax
with IVA and CCAdj...
Dividends
Undistributed profits with
IV
A and CCAdj
109.2
50.2
100.3
56.0
102.2
51.6
106.0
53.9
97.8
55.7
99.5
56.7
98.1
57.7
112.2
59.6
59.1
44.3
50.6
52.1
42.1
42.8
40.4
52.6
SUEVEY OF CURRENT BUSINESS
May 1981
Table 1.13.—Gross Domestic Product of Corporate Business in Current Dollars and Gross Domestic Product of Nonfinancial
Corporate Business in Current and Constant Dollars
1979
1980
IV
I
IV
III
II
1979
Ir
1980
175.4
161.5
167.1
173.0
139.6
159.3
143. 5
148.1
154.4
178. 4
183.2
187.5
162.4
172.5
187.7
1,199.8 1,281.8 1,234.8 1,268.9 1,249.3 1,276.6 1, 332. 4 1, 397. 6
Domestic income
Compensation of employees
1,011.5 1,103.1 1,051.4 1,079.9 1,083.0 1,101.7 1, 147. 8 1, 192. 9
Wages and salaries
845.9 917.9 877.8 901.1 900.8 915.2 954.6 988.8
Supplements to wages
and salaries
165.6 185.2 173.6 178.8 182.2 186.4 193.2 204.1
Corporate profits with
IV A and CC Adj
166.5 151.5 157.7 163.6 140.0 147.0 155.6 174.9
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits.
*
IVA
CCAdj .
Netinterest
Profits before tax
225.0 214.4 223.7 240.4 188.6 206.7 221.8 231.0
85.2
90.4
82.3 87.2
71.5
78.5
Profits tax liability
87.6
94.2
Profits after tax
137.4 132.0 136.5 146.2 117.1 128.2 136.6 140.6
42.2
39.5
37.4
37.9
Dividends
34.9
35.3
34.3
37.9
97.1
98.4
Undistributed profits. 102.5 94.6 101.2 112.0
90.3
79.3
IVA...
_
-42.6 -45.7 -50.8 -61.4 -31.1 -41.7 -48.4 -39.2
CCAdj
-15.9 -17.2 -15.1 -15.4 -17.6 -17.9 -17.8 -16.9
29.0
29.8
27.2
27.9
26.3
21.9
25.6
25.3
Net interest
Gross domestic product
of financial corporate
business
77.9
81.3
82.0
80.4
82.0
147.5
165.9
152.9
158.2
163.6
79.7
83.3
168.6
173.0
1980
IV
191.1
68.4
122.7
38.2
207.2
74.3
132.9
36.9
158.6
52.0
106.6
41.1
177.9
60.3
117.6
40.8
191.3
05.9
125.4
42.7
202.3
70.7
131.6
45.4
82.7
86.2
86.3 80.3
84.5
96.0
76.8
65.5
-42.6 -45.7 -50.8 -61.4 -31.1 -41.7 -48.4 -39.2
-14.1 -14.4 -13.0 -13.1 -14.9 -15.0 -14.7 -13.6
56.1 49.1 52.3 54.4
45.2
61.5
59.9
57.6
873.3
867.2
873.4
878.2
853.2
860.4
876.9
899.7
84.6
88.1
86.1
87.1
87.6
88.5
89.4
90.4
788.7
779.0
787.3
791.2
765.7
771.9
787.5
809.3
92.7
696.0
95.4
683.6
93.9
693.5
94.9
696.2
94.1
671.6
95.3
676.5
97.2
690.3
97.5
711.8
Net domestic product Indirect business tax and
nontax liability plus business transfer payments
less subsidies
Domestic income
177.1
II
183.8
63.1
120.6
40.4
Capital consumption allowances with CCAdj
1981
1980
I
193.4
69.7
123.7
37.3
Gross domestic product
of nonfinancial corporate business. .
84.1
1979
1979
I'
Billions of 1972 dollars
Gross domestic product
of nonfinancial corpo1,417.0 1,535.2 1,457.7 1,502.1 1,496.3 1,537.7 1,604.7 1,688.7
rate business
Capital consumption allowances with CCAdj
IV
Net domestic product....
1,269.5 1, 369. 3 1,304.8 1,343.9 1,332.7 1,369.1 1,431.7 1,511.7
Indirect business tax and
nontax liability plus business transfer payments
less subsidies
133.6 152.5 137.3 141.7 147.7 155.4 165.1 179.7
Domestic income
1,135.9 1,216.9 1,167.5 1,202.3 1,185.0 1,213.6 1,266.6 1, 331. 9
Compensation of employees »
954.0 1,037.2 991.1 1,017.3 1,018.0 1,034.8 1,078.5 1,121.0
Wages and salaries
798.9 864.2 828.4 849.9 847.9 860.9 898.2 930.5
Supplements to wages
and salaries
155.2 172.9 162.7 167.4 170.1 173.9 180.4 190.5
Corporate profits with
IVA and CCAdj
136.7 123.6 127.3 132.6 112.5 121.2 128.2 149.5
1,339.5 1,441.1 1,378.3 1,416.9 1,403.7 1,439.0 1,504.8 1, 585. 3
Indirect business tax and
nontax liability plus business transfer payments
less subsidies
III
II
Billions of dollars
Gross domestic product
of corporate business. . 1,494.9 1,616.5 1,539.8 1,584.0 1,576.7 1,617.5 1,688.0 1,772.9
155.4
1981
Seasonally adjusted at annual rates
Billions of dollars
Net domestic product
I
IV
Seasonally adjusted at annual rates
Capital consumption allowances with C C Adj
1980
1979
1981
1980
1979
III
IV
Ir
1979
1979
1980
IV
1980
I
Seasonally adjusted at annual rates
1981
II
III
IV
Ir
Seasonally adjusted at annual rates
Billions of dollars
Billions of 1972 dollars
Table 1.14-1.15.—Auto Output in Current and Constant Dollars
64.4
68.0
__
Addenda:
Domestic output of new autos l
Sales of imported new autos 2
61.8
65.3
49 4
15.9
13 2
22.2
-9.1
—10.1
4.7
14.8
.8
-1.2
—1.0
—.2
62.2
61.8
46 2
15.6
12 4
21.2
-8.8
—12.9
4.0
16.8
.8
-1.9
—1.3
— 6
65.7
64.2
48.5
15.7
11.2
19.5
-8.3
— 10.5
4.9
15.4
.8
-3.9
—3.3
—.6
73.8
71.6
54.8
16.9
12.9
22.2
-9.4
—11.6
4.8
16.3
.8
-9.5
—8.3
—1.2
57.8
19.4
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
Change in business inventories
New
_
Used
60.2
69.2
Auto output
48.8
21 7
50.1
19.8
51.6
24.3
54.3
68.8
67.8
46.8
38.6
41.4
42.5
34.6
34 6
42 8
42
51.5
50 7
36 8
13.9
11.0
18.3
-7.3
—10.9
3.9
14.8
.8
2.0
3.4
—1 4
57.8
58.7
44.3
14.4
13.3
21.9
-8.7
—15.1
3.4
18.4
.8
-3.5
—3.8
.4
65.5
66.1
48.8
17.3
12.5
22.4
-9.9
—13.9
3.9
17.8
.8
3.2
3.5
— 3
76.9
74.8
57.8
17.0
13.3
24.3
-11.0
— 11.9
4.3
16.3
.8
-9.2
— 11.0
1.8
47.3
41.3
33.1
8.2
9.9
14.9
-5.0
—4.4
3.1
7.6
.6
— .5
—.4
—.1
39.9
36 5
28 6
7.8
8.5
13.2
-4.7
—5.5
2.4
8.0
.5
-1.3
—.9
—.3
44.1
39 9
31 8
8.1
82
12.8
-4.6
—4.5
3.2
7.7
.5
-2.7
-2.4
—.3
48.3
43. 7
35.0
8.7
9.1
14.2
-5.1
—5.0
3.1
8.1
.5
-5.8
—5.2
—.6
33.5
30 4
22 9
7.5
73
11.4
-4.1
—4.6
2.4
7.1
.5
1.0
1.8
— 8
36.8
34 3
26 9
7.4
86
13.4
—4.8
—6.6
1.8
8.4
.5
-2.2
—2.4
.2
40.9
37 5
29 7
7.8
89
13.6
-4.7
—6 0
2.4
83
.5
1.9
2.1
— i
48
42
35
7.
9
14.
—5.
—4
2.
7
43.0
18.2
45.3
21.2
55.4
23.2
52.2
26.3
38.7
12.9
30.2
13.5
32.8
13.0
33.0
15.6
26.8
11.4
27.3
12.9
33.7
14.1
31.
16.
53.6
-5.
—6.
Table 1.16-1.17.—Truck Output in Current and Constant Dollars
Truck output l
37.8
Change in business inventories.
_
25.7
32.6
28.0
23.8
23.2
27.7
26.9
22.3
13.8
19.0
15.7
12.8
12.2
14.3
13.
37.7
11.4
23.7
—.4
27 8
7.9
17.6
-1.1
3.1
4.1
3.3
36.4
11.4
22.0
-.1
3.5
3.7
3.1
30.9
9.1
19.4
-.8
3.0
3.7
3.2
26 1
7.3
16.1
-.7
2.9
3.5
3.3
27.5
7.9
18.0
-1.9
3.1
5.0
3.4
26.8
7.5
16.8
-1.0
3.3
4.3
3.5
27.5
7.7
16.9
-.7
3.6
4.3
3.6
22.3
7.6
13.3
-.4
1.9
2.3
1.7
14.9
4.9
9.1
-.8
1.6
2.3
1.7
21.0
7.5
12.1
-.3
2.0
2.2
1.7
17.3
5.8
10.4
-.6
1.6
2.2
1.7
14.1
4.5
8.4
-.6
1.5
2.1
1.7
14.5
4.8
9.1
-1.2
1.6
2.8
1.7
13.7
4.5
8.2
-.7
1.6
2.3
1.7
13.
4.
_
8.
3.8
3.0
_
Final sales
Personal consumption expenditures
Producers' durable equipment
Net exports
Exports
_ _
_
Imports
Government purchases
.1
-2.1
.9
-.6
.1
33
__
-3.8
-2.9
-2.2
Digitized forl.U-1.15:
Table FRASER
1. Consists of final sales
http://fraser.stlouisfed.org/ and change hi business inventories of new autos produced in the
United States.
Federal Reserve Bank of St. Louis
-4.3
Table 1.16-1.17:
1. Includes new trucks only.
-1.2
-2.1
-1.6
-1.3
-2.2
.5
1.
2.
1.
8
SUEVEY OF CUKEENT BUSINESS
1979
1979
1980
1980
I
IV
II
May 1981
1979
1981
III
IV
1980
1979
I'
Seasonally adjusted at annual rates
IV
I
II
III
IV
I'
Seasonally adjusted at annual rates
Billions of dollars
Billions of dollars
Table 2.1.—Personal Income and Its Disposition
Personal income
1981
1980
Table 2.2-2.3.—Personal Consumption Expenditures by Major Type
of Product in Current and Constant Dollars
__. ,S43.8 2,160.2 2,032.0 2,088.2 2,114.5 2,182.1 2,256.2 2, 318. 7
Wage and salary disbursements.
_
Commodity-producing industries
Manufacturing
Distributive industries
Service industries
Government and government enterprises
,236.1 1,343.7 1,282.2 1,314.7 1,320.4 1,341.8 1,397.8 1,442.4
Personal consumption
1,510.9 1,672.8 1,582.3 1,631.0 1,626.8 1,682.2 1,751.0 1,805.8
expenditures.
212.3
Durable goods
437.9
333.4
303.0
259.2
465.4
350.7
328.9
295.7
450.4
340.4
315.0
273.7
461.7
347.9
322.6
283.6
456.0
343.2
323.2
290.8
460.1
346.7
329.2
298.7
484.0
364.0
340.6
310.0
501.2
377.3
351.7
322.5
236.1
253.6
243.1
246.8
250.5
253.9
263.3
267.0
Other labor income
118.6
137.1
126.0
130.9
135.1
139.1
143.5
148.0
Proprietors' income with IV A
and CCAdj
131.6
130.6
136.3
133.7
124.9
129.7
134.0
131.8
30.8
100.7
23.4
107.2
29.5
106.8
25.7
107.9
23.3
101.6
22.1
107. 6
22.5
111.6
18.8
113.0
Rental income of persons
with CCAdj.. _
30.5
31.8
31.0
31.2
31.5
32.0
32.4
32.7
Personal dividend income.—..
48.6
54.4
50.1
52.4
54.2
55.1
56.1
58.0
Personal interest income
209.6
256.3
225.7
239.9
253.6
261.8
269.7
288.3
Transfer payments
249.4
294.2
263.1
271.7
280.7
310.7
313.9
319.7
153.8
139.3
142.0
144.7
163.2
165.3
10.6
14.6
11.4
14.8
16.0
14.6
19.0
14.9
17.5
15.5
15.6
15.9
42.8
66.7
39.2
59.3
40.2
63.3
42.3
63.0
43.1
70.5
45.7
69.9
46.7
71.8
12.4
54.3
11.5
47.8
11.7
51.6
12.0
51.0
12.8
57.7
13.1
56.8
13.3
58.4
87.9
82.4
86.2
85.9
88.1
91.2
102.2
216.1
220.9
194.4
208.8
223.3
237.3
95.5
89.9
95.4
100.6
77.5
87.0
94.6
104.5
81.1
35.8
84.6
37.3
83.8
37.0
83.6
36.8
81.3
35.6
84.6
37.2
88.9
39.8
92.2
40.6
169.8
16.0
15.0
Motor vehicles and parts...
Furniture and household
equipment
..
Other
211.9
Farm
Nonfann
Less: Personal tax and nontax
payments
_
80.6
302.0
338.5
321.8
323.1
330.3
341.5
359.2
371.9
1,555.5 1,720.4 1,629.4 1,678.7 1,674.1 1,729.2 1,799.4 1,854.7
Personal consumption expenditures
1,510.9 1, 672. 8 1,582.3 1,631.0 1, 626. 8 1, 682. 2 1,751.0 1, 805. 8
Interest paid by consumers
47.8
46.8
46.0
46.3
45.8
46.7
46.4
to business
43.7
Personal transfer payments
1.1
1.6
1.0
1.0
1.3
1.0
to foreigners (net)
1.2
1.0
Equals: Personal saving
86.2
101.3
80.7
86.4
110.0
111.4
97.6
Per capita:.
Current dollars
1972 dollars
7,441
4,584
8,176
4,571
7,722
4,596
7,953
4,600
8,020
4,532
8,249
4, 565
8,479
4,585
8,684
4,609
Population (millions)
220.6
222.8
221.5
221.9
222.4
223.1
223.7
224.2
5.2
5.6
4.7
4.9
6.2
6.1
5.1
4.7
Table S.lfr
NOTE.—In this table interest and dividends received in included in receipts; in tables 3.2
and 3.3 interest received and dividends received are netted against expenditures.
639.2
661.1
664.0
674.2
703.5
725.2
345.7
104.8
89.0
136.2
19.8
116.4
329.0
102.5
77.6
130.0
18.1
111.8
336.2
102.2
89.4
133.3
18.8
114.5
338.4
102.3
90.9
132.4
19.2
113.1
347.7
105.3
85.3
136.0
20.7
115.3
360.4
109.4
90.5
143.3
20.5
122.7
372.4
113.4
93.2
146.2
20.2
126.0
696.3
785.2
727.0
749.0
768.4
799.2
824.2
843.4
241.9
98.7
47.3
51.3
57.2
298.5
Housing.
.-- .
Household operation.
Electricity and gas
Other
Transportation
Other
272.0
111.6
55.7
56.0
64.1
337.5
253.0
102.7
49.8
52.9
59.9
311.4
259. 8
104.2
50.0
54.2
61.4
323.7
267.3
109.3
54.5
54.8
61.fi
330.2
275.7
116.1
59.3
56.8
65.8
341.5
285.3
116.9
58.8
58.2
67.5
354.5
293.5
118.2
58.5
59.7
67.4
364.3
Personal consumption
expenditures
Food
-.
Clothing and shoes Gasoline and oil
. _..
Other nondurable goods
Fuel oil and coal
Other
Services
Housing.
Household operation
Electricity and gas
Other.
Transportation
Other
. -.
_ .
941.6
943.4
919.3
930.8
946.8
958.3
135.8
146.0
145.4
126.2
132.6
139.1
146.4
61.7
53.8
60.3
62.1
47.0
51.5
54.6
60.3
59.8
25.1
58.9
23.1
60.7
25.0
59.6
23.8
57.0
22.2
58.4
22.6
60.7
23.8
62.0
24.1
358.4
361.3
361.5
356.6
354.9
360.4
364.2
176.7
76.6
28.1
73.2
4.7
68.5
181. 5
78.0
26.2
72.6
4.2
68.4
181.3
78.4
27.2
74.4
4.5
69.9
183.6
76.9
27.0
73.9
4.2
69.7
182.2
76.7
26.4
71.2
4.1
67.2
180,1
78.3
25.2
71.4
4.3
67.0
179.9
80.1
26.3
74.1
4.2
69.8
182.8
82.8
24.8
73.9
3.6
70.3
429.6
Nondurable goods
935.1
354.6
Motor vehicles and parts
Furniture and household
equipment.
Other
.
930.9
146.6
Durable goods
440.9
434.3
436.5
436.5
443.3
447.3
447.7
159.3
59.6
23.1
36.5
35.5
175.2
164.2
61.5
23.3
38.3
34.8
180.4
160.9
60.1
23.0
37.1
35.5
177.7
162.1
60.0
22.3
37.7
35.2
179.2
163.5
61.3
23.1
38.2
34.1
177.7
164.8
62.6
24.1
38.4
34.7
181.2
166.5
62.1
23.4
38.7
35.1
183.6
168.0
61.4
22.6
38.8
34.7
183.6
92.2
Addenda:
Disposable personal income:
Total, billions of 1972
1,011.5 1,018.4 1, 017. 7 1, 021. 0 1,008.2 1, 018. 5 1,025.8 1, 033. 2
dollars
Personal saving as percentage
of
disposable
675.7
312.1
98.9
68.4
122.9
16.0
106.9
Billions of 1972 dollars
Equals: Disposable personal
income.
1,641.7 1,821.7 1,710.1 1,765.1 1,784.1 1,810.6 1,897.0 1, 946. 9
Less : Personal outlays
Food
Clothing and shoes. _ _ ..- ..
Gasoline and oil
Other nondurable goods
Fuel oil and coal
.Other
Services
Old-age, survivors, disability, and health insurance benefits
131.8
Government unemployment insurance benefits9.8
Veterans benefits .
14.4
Government
employees
retirement benefits
37.0
Other transfer payments. . . 56.4
Aid to families with dependent children
11.0
Other
45.4
Less: Personal contributions
for social insurance
602.2
Nondurable goods . .
Billions of dollars
Table 3.14.— State and Local Government Social Insurance Funds
Receipts and Expenditures
Receipts
Contributions for social insurance
40.2
45.1
42.1
42.9
43.6
46.0
47.8
49.4
28.1
31.5
29.2
29.6
30.2
32.3
33.7
34.8
7.5
20.7
7.7
23.8
7.7
21.5
7.5
22.2
7.0
23.2
8.1
24.3
8.4
25.3
8.6
26.3
18.3
2.4
21.0
2.8
19.0
2.5
19.6
2.6
20.5
2.7
21.4
2.8
22.4
2.9
23.2
3.0
12.1
13.6
12.9
13.3
13.4
13.7
14.1
14.6
16.4
18.2
17.1
17.6
17.9
18.3
18.8
19.2
Administrative expenses (purchases of goods and services).
Transfer payments to persons.
.5
15.9
.6
17.6
.5
16.6
.5
17.0
.5
17.4
.6
17.8
.6
18.2
.6
18.6
Surplus or deficit (-)
23.9
26.9
25.0
25.3
25.7
27.7
29.0
30.2
Personal contribution
Employer contributions
Government and government enterprises. .- .
Other
Interest and dividends received
- - Expenditures..
May 1981
SUEVEY OF CUKKENT BUSINESS
Table 3.2.—Federal Government Receipts and Expenditures
1979
1980
I
IV
II
Table 3.3.—State and Local Government Receipts and Expenditures
1981
1980
1979
9
III
IV
1979
Ir
1979
I
IV
1980
1981
1980
III
H
IV
I'
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Billions of dollars
Billions of dollars
494.4
540.8
514.0
528.4
520.9
540.8
573.2
619
Personal tax and nontax receipts
Income taxes
Estate and gift taxes
Nontaxes
231.4
225.7
5.5
.2
257.8
251.0
6.6
.2
247.1
241.0
5.9
.2
246.9
240.7
6.0
.2
252.0
245.2
6.7
.2
259.4
252.3
6.9
.2
272.9
265.9
6.8
.2
283 2
276'. 6
6 4
*2
Receipts _
-»
Receipts..
351.2
384.0
365.6
372.1
373.9
386.8
403.4
411.9
Personal tax and nontax rec^P18
Income taxes...
_._
Nontaxes
Other
70.6
38.8
24.5
7.4
80.7
44.9
27.9
7.9
74.7
41.3
25.9
7.5
76.2
41.8
26.7
7.7
78.3
43.0
27.5
7.8
82.1
45.8
28.3
8.0
86.3
49.1
29.0
8.2
88.7
50.4
29.8
8.4
Corporate profits tax accruals-
74.6
70.2
74.3
80.5
60.9
66.7
72.6
77 ^
Corporate profits tax accruals.
13.0
12.2
12.9
13.7
10.6
11.7
12.6
13.1
Indirect business tax and nontax accruals
Excise taxes.
Customs duties
Nontaxes
29.4
18.6
7.5
3.4
40.6
29.1
7.2
4.4
29.6
18.6
7.4
3.6
31.9
20.9
7.2
3.8
38.7
27.9
6.8
4.0
42.9
31.4
7.3
4.2
49.1
36.1
7.3
5.6
50 6
47* g
77
5*0
"
Indirect business tax and nontax accruals
Sales taxes
Property taxes
Other
159.0
76.9
64.4
17.7
171.6
82.9
67.5
21.2
163.9
79.4
65.4
19.1
167.0
80.8
66.3
19.9
167.7
79.7
67.2
20.8
173.0
83.4
67.9
21.7
179.0
87.5
68.9
22.6
185.2
91.7
69.8
23.7
Contributions for social insurance
159.0
172.2
163.0
169.2
169.3
171.8
178.6
198.8
Contributions for social in-
34.8
664 3
"ITorloral crrnnte in a\f\
28.1
509.2
602.0
538.6
564.7
587.3
615.0
641.1
Purchases of goods and services
National defense
Nondefense
167.9
111.2
56.7
198.9
131.7
67.2
178.1
118.7
59.4
190,0
125.0
64.9
198.7
128.7
70.0
194.9
131.4
63.5
212.0
141.6
70.4
Transfer payments
To persons
To foreigners
209.1
204.9
4.2
249.8
244.9
4.9
221.7
216.8
4.9
228.9
224.4
4.5
236.0
232.2
3.8
265.3
260.4
4.9
269.0
262.6
6.4
?I2* J
267. 3
5.0
Grants-in-aid to State and
local governments ..
80.4
88.0
84.9
85.5
87.2
87.7
91.8
90 l
Net interest paid .
Interest paid
To persons and business...
To foreigners
Lessi Interest received
42.3
53.6
42.6
11.1
11.3
53.3
67.5
55.0
12.5
14.2
44.4
56.8
45.5
11.3
12.4
50.3
63.1
50.9
12.2
12.8
54.4
68.0
56.3
11.7
13.6
53.5
68.2
56.3
11.9
14.8
55.2
70.8
56.7
14.1
15.6
67. 8
84.4
68.6
15. 8
16. 6
9.4
9.3
12.0
10.7
9.5
9.8
10.1
10.0
11.0
10.3
13.7
10.7
13.1
11.6
12.6
H-9
-.1
-1.3
.3
-.1
-.6
-3.1
Less: Wage accruals less disbursements
NTIPA'a
Social insurance funds
Other
29.2
29.6
30.2
32.3
33.7
88.0
84.9
85.5
87.2
87.7
91.8
90.1
324.4
355.0
336.7
345.4
350.0
358.2
366.3
373.9
335.8
187.4
148.4
318.3
177.3
141.0
326.8
181.6
145.2
331.3
185.4
145.9
338.6
189.3
149.3
346.6
193.3
153.3
354.1
197.9
156.2
38.9
36.4
37.2
38.1
39.7
40.5
41.2
-9.7 -10.2 -10.6 -11.1 -11.4
17.2
18.0
16.9
17.4
17.7
26.6
27.4
29.5
28.0
28.8
-11.7
18.4
30.2
Expenditures
Transfer payments to persons.
Subsidies less current surplus
of government enterprisesSubsidies
Less: Current surplus of
government enterprises
Surplus or deficit (-),
31.5
80.4
Purchases
of goods and
services ._ _
305.9
Compensation of employees. 172.3
Other
133.6
221.5
145.0
76.4
Expenditures
0
0
0
0
-14.8 -61.2 -24.5 -36.3
3.2 -14.2
-18.1 -47.0
-2.1
99 A.
.4
-36.7
0
0
-
-1.4
-7.8 -27.1 -22.2
CO G
-47.1 -45.8
LeSS: Dividends received
1.5
Subsidies less current surplus
of government enterprises. -6.3
Subsidies.
.3
Less: Current surplus of
government enterprises
6.7
1.6
1.5
1.6
1.6
1.6
1.6
1.6
-7.4
.4
-6.7
.3
-7.0
.3
-7.2
.3
-7.5
.4
-7.7
.4
-7.9
.4
7.7
7.0
7.3
7.6
7.8
8.1
8.3
.2
-.2
0
0
0
0
Less: Waee accruals less disbursements
-.1
0
.
Surplus or deficit
NIPA's.
26.7
29.1
28.9
26.6
23.9
28.6
37.1
37.9
4 7
39 7
Social insurance funds...
Other
23.9
2.9
26.9
2.1
25.0
4.0
25.3
1.3
25.7
-1.7
27.7
.9
29.0
8.1
30.2
7.8
0
-66.5 -74.2 -67.9
35.0
-8.8 -10.8
17.6
16.3
25.1 28.4
Net interest paid
Interest paid
_._
Less" Interest received
AA
(-),
Table 3.7B-3.8B.—Government Purchases of Goods and Services by Type in Current and Constant Dollars
1979
1979
1980
IV
1980
I
II
1981
III
IV
Ir
1979
1979
1980
IV
I
Seasonally adjusted at annual rates
II
1981
IV
III
Ir
Seasonally adjusted at annual rates
Billions of dollars
Government purchases of goods and services
1980
Billions of 1972 doUars
*
473.8
534.7
496.4
516.8
530.0
533.5
558.6
575.5
281.8
290.0
285.3
290.1
291.9
288.2
289.8
293.2
Federal...
National defense
Durable goods
N endurable goods
Services
Compensation of employees
Military
Civilian
_
Other services
Structures
167.9
111.2
26.8
7.0
74.9
48.8
27.7
21.0
26.2
2.4
198.9
131.7
32.9
10.9
84.7
52.8
30.4
22.4
31.9
3.1
178.1
118.7
29.5
8.2
78.5
51.0
29.1
21.9
27.5
2.4
190.0
125. 0
31.5
9.8
80.8
51.3
29.3
22.0
29.5
2.9
198.7
128.7
32.3
10.4
83.1
51.4
29.4
21.9
31.8
2.9
194.9
131.4
32.9
10.5
84.1
51.8
29.7
22.1
32.3
3.8
212.0
141.6
34.9
13.1
90.7
56.8
33.2
23.6
33.9
2.9
221.5
145.0
35.9
13.1
93.1
57.4
33.5
23.8
35.8
2.9
101.7
67.1
16.6
2.4
46.7
32.0
18.8
13.2
14.7
1.4
108.1
70.9
18.4
2.5
48.5
32.1
18.9
13.2
16.4
1.6
103.1
68.3
17.7
2.4
46.9
32.0
18.8
13.2
14.9
1.3
107.6
69.9
18.2
2.3
47.8
32.0
18.8
13.2
15.8
1.5
110.7
70.9
18.3
2.5
48.7
32.0
18.8
13.2
16.7
1.5
106.9
70.9
18.0
2.3
48.7
32.2
18.9
13.2
16.5
1.9
107.4
71.9
18.9
2.8
48.8
32.1
19.0
13.1
16.7
1.4
111.0
72.1
18.7
2.8
49.3
32.1
19.0
13.1
17.1
1.4
Nondefense
Durable goods
Nondurable goods
_ Services
Compensation of employees
Other services
Structures
56.7
.6
2.0
48.1
27.0
21.0
6.0
67.2
1.5
4.1
55.1
29.1
25.9
6.6
59.4
-1.1
3.8
50.8
28.0
22.8
5.9
64.9
1.5
4.4
52.3
28.3
24.1
6.7
70.0
1.3
7.8
54.6
29.1
25.4
6.3
63.5
1.5
-1.1
56.3
28.8
27.5
6.8
70.4
1.6
5.3
57.0
30.3
26.7
6.5
76.4
2.0
9.2
57.6
30.6
27.0
7.7
34.6
.7
1.1
29.6
17.0
12.6
3.2
37.2
.9
2.0
31.1
17.1
14.0
3.2
34.8
0
1.6
30.1
16.9
13.1
3.1
37.7
1.0
2.9
30.5
17.0
13.5
3.4
39.7
.8
4.5
31.4
17.5
13.9
3.1
35.9
.9
-.1
31.9
17.2
14.6
3.2
35.4
.9
.8
30.7
16.8
13.9
3.0
38.9
1.0
4.0
30.4
16.8
13.6
3.5
305.9
9.8
23.4
232.4
172.3
60.1
40.3
335.8
10.6
26.3
253.7
187.4
66.3
45.3
318.3
10.1
24.3
239.8
177.3
62.5
44.1
326.8
10.3
25.0
245.4
181.6
63.8
46.1
331.3
10.5
25.7
250.7
185.4
65.3
44.4
338.6
10.7
26.7
256.3
189.3
67.1
44.9
346.6
10.9
27.8
262.2
193.3
69.0
45.7
354.1
11.1
28.3
268.3
191.9
70.4
46.4
180.1
6.2
13.4
140.2
104.9
35.3
20.4
181.9
6.3
13.7
141.4
106.0
3o 4
20.5
182.2
6.3
13.4
141.1
105. 6
35.5
21.4
182.5
6.2
13.5
141.1
105.8
35.3
21.6
181.2
6.3
13.6
141.1
105.9
35.2
20.2
181.3
6.3
13.7
141.4
106.1
35.3
20.0
182.4
6.2,
14.0
142.0
106.3
35.6
20.2
182.2
6.2
14.0
141.9
106.4
35.6
20.0
State and local
Durable goods
Nondurable goods
Services
Compensation of employees
Other services __
Structures
.
SUEVEY OF CUKRENT BUSINESS
10
1980
1979
1979
1980
IV
I
II
May 1981
1981
III
IV
I'
1980
1979
1979
1980
IV
I
Seasonally adjusted at annual rates
II
1981
m
IV
I'
Seasonally adjusted at annual rates
Billions of dollars
Billions of 1972 dollars
Table 4.1-4.2.—Foreign Transactions in the National Income and Product Accounts in Current and Constant Dollars
Receipts from foreigners
282.5
..
340.9
307.4
338.5
334.4
343.5
347.2
378.0
281.3
176.9
102.9
74.1
104.4
66.6
37.8
_ __
Exports of goods and services
Merchandise
Durable goodsNondurable goods
Services
Factor income *
Other
339.8
218.2
127.7
90.5
121.6
79.5
42.1
306.3
193.9
109.4
84.6
112.4
74.5
37.9
337.3
214.8
127.0
87.8
122.5
83.0
39.5
333.3
213.9
126.3
87.6
119.4
78.1
41.3
342.4
222.9
129.9
93.0
119.5
76.3
43.2
346.1
221.0
127.5
93.6
125.0
80.7
44.3
376.8
241.5
135.1
106.4
135.3
88.8
46.5
1.1
1.1
1.1
1.1
1.1
1.1
1.1
282.5
340.9
307.4
338.5
334.4
343.5
347.2
267.9
208.9
99.0
109.9
59.0
22.8
36.2
316.5
245.9
112.1
133.8
70.6
29.9
40.7
298 7
233.0
103.7
129.3
65.7
27.9
37.8
329.1
257. 5
115.7
141.8
71.6
31.5
40.0
316.2
245.6
107.9
137.8
70.5
29.9
40.6
297.9
231.5
108.7
122.8
66.4
25.9
40.6
322.7
248.8
116.0
132.9
73.9
32.2
41.7
339.8
258.8
116.7
142.1
81.0
37.8
43.2
5.2
1.0
4.2
6.0
1.2
4.9
6.2
1.3
4.9
5.5
1.0
4.5
4.8
1.0
3.8
5.9
1.0
4.9
8.0
1.6
6.4
12.5
11.3
12.2
11.7
11.9
14.1
1.7
2.3
160.5
92.1
55.9
36.2
68.4
45.1
23.3
160.5
93.5
55.7
37.8
67 0
43.1
23.9
157 4
89 0
52.5
36.4
68 4
44 4
24.1
166.8
94.4
54.0
40.5
72 3
47.6
24.8
10P.2
76.9
47.2
29.7
32.3
14.1
18.1
109.1
74.0
47.6
26.4
35.1
17.0
18.1
112.6
78.0
48.0
30.0
34.7
16.8
17.8
115.8
78.8
50.3
28.5
37.0
18.6
18.4
108.9
73.4
46.8
26.6
35.5
17.3
18.2
102.8
70.5
45.8
24.6
32.4
14.6
17.8
108 9
73 4
47.5
25.8
35.5
17.7
17.8
112 9
74.6
47.8
26.8
38.3
20.2
18.0
15.8
27.8
165.9
94.1
58.1
36.0
71.8
49.0
22.8
6.1
1.1
5.0
11.1
154.8
87.6
52.3
35.3
67.2
15.0
22.3
378.0
Imports of goods and services
M erchan dise
Durable goods. .
Nondurable goods
Services
Factor income L .
Other
161.1
92.2
55.6
36.6
68.9
45.4
23.5
1.2
Payments to foreigners
146.9
82.8
50.5
32.3
64.1
41.3
22.8
16.2
Capital grants received by the United States (net).
_
Transfer payments (net)
From persons (net).
From government (net)
_
Interest paid by government to foreigners
__ »
Net foreign investment
—1.7
5.9
-8.7
—8.3
Table 4.3-4.4.—Merchandise Exports and Imports by Type of Product and by End-Use Category in Current and Constant Dollars
176.9
218.2
193.9
214.8
213.9
222.9
221.0
241.5
82.8
92.2
87.6
94.1
92.1
93.5
89.0
Foods, feeds, and beverages
29.8
35.9
34.8
34.2
32.1
38.4
38.8
45.0
13.4
15.3
15.2
14.9
14.5
16.4
15.2
17.
Industrial supplies and materials
Durable goods
Nondurable goods
52.6
17.9
34.6
67.1
24.3
42.8
60.3
20 9
39.4
66.5
25.5
41.0
70.7
26.4
44.3
65.9
23.3
42.7
65.2
22.2
43.0
67.8
22.1
45.7
20.9
7.1
13.8
23.7
8.6
15.1
22.4
7.8
14.6
23.3
9.0
14.4
25.0
9.3
15.7
23.5
8.3
15.2
23.0
78
15.2
23.
7
15.
Merchandise exports
94.
Capital goods, except autos. -_
58.2
73.5
60.6
68.0
73.0
77.6
75.5
79.2
30.8
34.7
31.8
34.7
35.2
35.6
33.1
33.
Autos
17.4
16.9
17.7
17.2
15.6
16.5
18.1
18.8
8.1
6.8
7.9
7.4
6.4
6.5
6.8
6.
Consumer goods _
Durable goods
Nondurable goods
12.6
6.2
6.5
16.5
8.8
7.7
13.7
6.8
6.9
18.8
11.1
7.6
15.1
7.7
7.4
16.0
8.3
7.7
16.1
8.0
8.1
16.6
8.0
8.7
6.7
3.0
3.7
8.3
3.8
4.5
7.1
3.2
3.9
9.3
4.9
4.5
7.8
3.4
4.5
7.9
3.6
4.4
7.9
3.4
4.6
8.
3.
5.
6.3
3.2
3.2
8.3
4.2
4.2
6.9
3.4
3.4
10.1
5.1
5.1
7.5
3.7
3.7
8.4
4.2
4.2
7.3
3.7
3.7
14.0
7.0
7.0
3.0
1.5
1.5
3.5
1.8
1.8
3.1
1.6
1.6
4.4
22
2.2
3.2
1.6
1.6
3.5
1.8
1.8
3.0
1.5
1.5
5.
2
2.
Other
Durable goods
Nondurable goods
___
__
Merchandise imports
208.9
245 9
233.0
257.5
245.6
231.5
248 8
258.8
76.9
74.0
78.0
78.8
73.4
70.5
73 4
74
Foods, feeds, and beverages . .
.
17.4
18.2
19.0
17.8
17.5
18.2
19.5
20.5
7.6
6.7
7.7
6.8
6.5
6.6
7.0
7.
Industrial supplies and materials, excluding
petroleum
_ _
Durable goods
Nondurable goods
47.4
28.7
18.6
52.1
31.2
20.9
50.6
30.1
20.5
57.1
35.3
21. 7
52.1
30.6
21.5
47.5
27.6
19.9
51.6
31.2
20.4
55.2
32.2
22.9
19.4
11.7
7.6
17.3
10.2
18.9
11.2
19.2
11.6
17.4
10.1
15.6
8.9
6.7
16.9
10.0
6.9
18.
10.
7.
Petroleum and products
60.0
79.1
75.4
86.4
84.0
69.1
76.8
82.5
8.5
6.9
8.4
8.2
7.2
5.8
6.2
6.
Capital goods, except autos
24.6
30.1
26.4
29.7
29.5
30.0
31.2
32.0
13.8
14.7
14.5
15.2
14.2
14.4
14.8
15.
Autos
25.6
27.1
25.7
26.3
25.0
28.1
28.9
27.0
11.0
10.9
11.0
11.0
10.7
11.2
10.8
9.
Consumer goods
Durable goods
Nondurable goods
30.6
18.4
12.2
34.4
21.2
13.1
32.0
19.6
12.4
34.2
21.4
12.8
34.1
21.0
13.1
34.3
20.8
13.5
34.8
21.7
13.1
37.1
23.2
13.9
15.0
9.9
5.1
15.5
10.9
4.7
15.7
10.4
5.3
15.8
11.2
4.6
15.9
11.1
4.8
15.2
10.5
4.7
15.2
10.7
4.5
15.
11.
4.
Other
Durable goods
Nondurable goods
3.5
1.8
1.8
4.9
2.5
2.5
4.0
20
2.0
6.1
3.0
3.0
3.5
1.7
1.7
4.2
2.1
2.1
6.0
3.0
3.0
4.4
2.2
2.2
1.6
.8
.8
2.0
1.0
1.0
1.7
.9
.9
2.5
1.3
1.3
1.4
.7
.7
1.7
.8
.8
2.4
1.2
1.2
1.
35.4
141.5
148.9
42.3
175.9
166.8
41.7
152.2
157.6
41.5
173.3
171.1
38.9
174.9
161.7
43.8
179.1
162.4
44.8
176.2
172.0
51.3
190.2
176.3
15.9
66.9
68.4
18.0
74.1
67.1
18.2
69.3
69.5
18.1
76.0
70.6
17.6
74.5
66.1
18.7
74.8
64.7
17.7
71.3
67.1
19.
74 .1
68. <
»
•_
Addenda:
Exports:
Agricultural products
Nonagricultural products
Imports of nonpetroleum products
Table 4.1-4.*:
1. Equals rest-of-the-world production as shown in tables 1.5-1.6.
SURVEY OF CURRENT BUSINESS
May 1981
Table 5.1.—Gross Saving and Investment
1979
11
Table 5.10-5.11.—Inventories and Final Sales of Business
in Current and Constant Dollars
1980
1981
1979
1979
I
IV
1980
in
II
rv
1980
1981
I'
IV
I
II
III
IV
I'
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Billions of dollars
Billions of dollars
Gross saving
_
Gross private saving
Personal saving.
Undistributed
corporate
profits with IVA and
CCAdj
Undistributed profits
CCAdj
411.9
401.9
402.0
404.5
394.5
402.0
406.7
446.0
398.9
86.2
432.9
101.3
396.4
80.7
413.0
86.4
435.9
110.0
446.5
111.4
436.4
97.6
451.3
92.2
52.1 42.1 42.8
59.1 44.3 50.6
117.6 107.2 116.6 128.9
90.7 102.4
-45.7 -50.8 -61.4 -31.1 -41.7
-42.6
-15.9 -17.2 -15.1 -15.4 -17.6 -17.9
Capital consumption allowances with CCAdj:
Corporate
_ . _ .
Noncorporate
Wage accruals less disbursements
155.4
98.2
175.4
111.8
161.5
103.6
167.1
107.4
173.0
110.7
0
0
0
0
0
Government surplus or deficit
(— ), NIPA's ...
11.9 -32.1
4.4
Federal
-14.8 -61.2 -24.5
State and local..
29.1 28.9
26.7
Capital grants received by the
United States (net)
Gross investment
Gross private domestic investment
Net foreign investment
178.4
113.4
52.6
40.4
106.6 108.7
-48.4 -39.2
-17.8 -16.9
183.2
115.8
187.5
119.0
0
.5
-9.6 -42.5 -45.6
36 3 -66.5 -74.2
26.6
23.9
28.6
-6.4
-30.8
-67.9 -44.4
37.9
37.1
710.1
724.5
740.4
765.8
785.4
796.1
84.3
625.9
363.6
262.3
77.8
646.6
369.5
277.1
81.8
658.5
374.6
283.9
92.6
673.2
379.9
293.4
92.6
692.8
393.7
299.1
86.9
709.2
397.3
311.9
311.2
203.7
107.5
134.6
83.6
51.0
106.3
68.6
37 7
58.3
15.1
13.3
122.6
59.7
62.9
57.5
...
325.0
210.0
115.0
133.5
84.4
54.1
108.2
69.7
3S.5
30.3
14.7
15.6
122.8
58.3
64.5
60.3
331. 2
212.6
118.6
142.0
87.0
55.0
111.6
72.2
39.4
30.4
14.8
15.6
124.0
57.9
66.2
61.3
335.3
215.5
119.8
1 0.3
89.0
57.3
116.7
74.0
42.7
29.6
15.0
14.6
127.3
58.1
69.3
64.3
344.2
222.5
121.8
151.7
92.6
59.1
120.7
77.2
43.5
31.0
15.4
15.6
130.3
60.8
69.5
66.5
354.8
226.6
128.2
155.5
94.2
61.3
121.5
78.2
43.3
34.0
16.0
18.0
129.9
58.7
71.2
69.1
176.2
112.9
181.2
115.9
179.9
112.6
187.2
117.0
194.1
121.9
201.7
127.9
4.03
3.55
4.00
3.57
4.12
3.66
4.09
3.60
4.05
3.57
3.95
3.52
5.55
5.58
5.85
5.75
5.68
5.55
Farm
Nonfarm
Durable goods
Nondurable goods. . _
Manufacturing
Durable goods
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers.. .
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durabel goods
Nondurable goods ..
Retail trade
Durable goods
Nondurable goods
Other
.
1.1
1.1
1.1
1.1
1.1
1.1
1.1
1.2
414.1
401.2
401.3
407.3
392.5
405.0
400.1
451.7
Final sales2
Final sales of goods and structures
415.8
-1.7
395.3 410.0
5.9 -8.7
415.6
-8.3
390.9
1.7
377.1
27.8
397.7
2.3
435.4
16.2
Ratio: Inventories to final sales.
Nonfarm inventories tofinalsales.. .
Nonfarm inventories to final sales of
goods and structures
Statistical discrepancy...
-.7
2.2
-.7
2.8
-1.9
3.0
-6.6
5.6
Billions of 1972 dollars
Table 5.8-5.9.—Change in Business Inventories by Industry
in Current and Constant Dollars
Change |n business inventories
Farm
.
Nonfarm
Change in book value
IVA i
...
Inventories 1
-5.9
17.5
08
2.5
16 0 -17.4
7.4
Inventories *
2.6
-3.4
-2.4
4.1 -1.2
3.6
1.0
1.3 -3.7
5.0
13.4 -4.7
-4.4
6.1 -12.3 -14.0
1.5
64.6
49.3 57.0 75.1 43.4 36.5 42.4 49.6
-51.2 -54.0 -61.4 -73.5 -37.3 -48.8 -56.4 -44.6
Manufacturing
Durable goods
Nondurable goods... _.
Wholesale trade. „
Durable goods
Nondurable goods
._
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers .
Durable goods __ .
Nondurable goods
Retail trade
_
—
Durable goods
Nondurable goods
Other
Nondurable goods
12.3 -2.1
11.3
-.5
.9 -1.6
1.0
1.4
.4
.8
.2
1.1
.4
1.5
-.3
1.1
.4
.7
5
1.0
-!3
.6
-.2
.4
-.6 -4.4
-.5 -4.4
-.1
0
.c
.8
6.4
10.6
-4.2
-1.2
-2.7
1.5
-3.9
-3.1
-.8
2.7
.4
2.3
.8
— £
-.1
13.3
3.4
9.8
-.4
-3.9
3.5
-4.9
-3.7
-1.2
4.5
-.2
4.7
-15.3
-9.1 -11.7
— 8 -3.6
'.2
4.0
3.6
-3! 2
2.7
.6
12.6
-4.4
-8.2
-1.9
-.8
-1.0
3.7
-.4
4.1
-5.6
— ^
-5.1
2.9
-3.0
5.9
-.8
-9.7
-1.6
-8.1
.6
2.0
-1.4
.7
2.5
-1.8
-.1
— 5
'.4
-4.5 c
.4
-.6
—• a
.4
.4
.1
5.6
5.9
-.3
6.4
6.0
.4
-.8
07
__
__
C
-4i 9
—.4
n
14.9
6.0
8.9
-1.0
-1.2
.2
-5.0
-1.2
-3.8
4.1
0
4.1
-9.5
-9.3
-.2
.5
-.1
6
Billions of 1972 dollars
Change in business inventories . .
10.2
-2.9
-0.7
-0.9
1.3
Farm
Nonfarm .. _. _ _
Change in book value
IVA i
.
2.4
7.8
-2.4
-.5
2.0
-2.7
.5
-1.4
.7
.6
Manufacturing
Durable goods _
Nondurable goods
Wholesale trade
6.8
6.3
.6
1.0
5
-1.0
-.1
-.9
.5
5
0
.6
.6
-.1
3.6
5.7
-2.1
-1.1
-1.1
0
-1.8
-1.5
Nondurable goods
_
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
c
\\
0
.4
.6
t
0*
-.1
-".]
-'.]
0
-2.2
-2.2
m ]
..
Of
5.4
2.1
3.3
-.5
-1.0
.5
-1.3
-.9
-.a -.4
.7
.8
-.1
.4
.9
-5.1 -7.5
-5.2
-5.9
-1.6
0
1.1
0
r
'.9
Farm
Nonfarm. .
Durable goods
Nondurable goods
Manufacturing
Durable goods
Nondurable goods
Wholesale trade
_ _ _
_ _ _
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods __
_
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
Durable goods
Nondurable goods
Other
Final sales2
..
Final sales of goods and structures
Ratio* Inventories to final sales
Nonfarm inventories tofinalsales. .
Nonfarm inventories to final sales o
goods and structures
343.5
343.3
343.6
342.3
340.6
340.0
43.5
300.0
181.8
118.2
43.6
299.6
1 0.6
119.0
43.8
299.8
180.8
118.9
43.4
299.0
179.9
119.1
43.0
297.6
179.9
117.6
42.7
297.3
179.1
118.2
145.9
99.0
47.0
64.2
42.2
22.0
52.8
34.9
17.8
11.4
7.3
4.2
66.8
32.6
34.2
23.1
147.3
99.5
47.8
64.1
42.0
22.1
52.5
34.7
17.7
11.6
7.2
4.4
64.9
31.1
33.8
23.4
147.2
99.5
47.7
64.5
42.5
21.9
52.9
35.3
17.6
11.6
7.2
4.4
64.7
30.7
34.1
23.4
145.9
99.0
46.8
64.7
42.5
22.2
53.3
35.3
18.1
11.3
7.2
4.1
65.1
30.
34.8
23.4
145.0
98.9
46.1
64.7
42.7
22.0
53.4
35.5
17.9
11.2
7.1
4.1
64.6
30.3
34.2
23.4
146.1
99.5
46.6
64.3
42.4
21.9
52.9
35.3
17.6
11.4
7.1
4.3
63.5
29.2
34.4
23.4
105.4
67.2
106.1
67.7
102.8
64.3
103.9
64.7
105.4
65.9
107.4
67.9
3.26
2.85
3.24
2.82
3.34
2.92
3.29
2.88
3.23
2.82
3.17
2.77
4.46
4.43
4.66
4.62
4.51
4.38
-5.0
-7.2
-2.3
Table 5.8-5.9:
-1.8
-3.1
-1.5
-5.6
-1.1
—1.1
1. The IVA shown in this table differs from that which adjusts business income. The IVA
in this table reflects the mix of methods (first-in-first-out, last-in-first-out, etc.) underlying
book value inventories derived primarily from Census Bureau Statistics. The mix differs
from that underlying business income derived primarily from Internal Revenue Service
statistics.
-3.6
-.5 -5.2
-.7
0
-1.8
-2.8
-.5 -3.4
0
.9
1.5
.7
2.3
-.2
1.1
-.8
-.8
.3
1.6
1.9
1.0
2.3
0
-.7
-.7
2.0
-.3
-.1 -1.1
-.3
0
-.2
-.1
-.1 -.9
-.6
1.3 -1.9
.4
-1.7
-1.7
1.1
3.0 -2.Jc
.2
-.1 — . t
.1
-.1 -.1
-.1
0
.1
4.6
2.5
2.2
-1.7
-1.0
-.6
-2.2
-1.0
-1.2
.6
0
.6
-4.2
-4.7
.4
.1
0
.2
Table 5.10-5.11:
1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories
calculated from current-dollar inventories 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 their respective 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 quarter rates, whereas CBI is stated at annual rates.
Quarter-to-quarter changes calculated from the constant-dollar inventories shown in this
table are at quarterly rates, whereas the constant-dollar change in business inventories component of GNP is stated at annual rates.
2. Quarterly totals at monthly rates. Business final sales equals final sales less gross product of households and institutions, government, and rest-of-the world and includes a small
amount of final sales by farms.
SURVEY OF CURRENT BUSINESS
12
Table 6.4.—National Income Without Capital Consumption
Adjustment by Industry
1979
1979
1980
I
m
II
Table 7.1-7.2.—Implicit Price Deflators and Fixed-Weighted
Price Indexes, 1972 Weights, for Gross National Product
1981
1980
IV
May 1981
IV
1979
Ir
IV
1980
National income withoutCCAdj
2,014.3 2,180.4 2,084.6 2,143.6 2,129.4 2,183.1 2,265.6 2,350.8
III
IV
I'
1,692.7 1,829.1 1,750.9 1,799.6 1,783.7 1,830.1 1,903.1 1,979.2
64.7
30.1
102.6
62.8
37.0
108.4
65.4
32.6
107.9
63.5
34.4
110.2
62.4
36.4
105.3
62.1
36.0
106.6
63.4
40.9
111.6
Manufacturing
Durable goods
Nondurable goods
514.5
315.4
199.1
527.2
311.5
215.7
516.7
311.0
205.8
538.9
317.5
221.4
504.3
293.7
210.6
517.6
305.7
211.9
548.1
329.2
218.9
Transportation and public
utilities
Transportation ..
Communication
Electric, gas, and sanitary services
158.3
76.3
43.5
174.3
80.0
50.1
163.4
79.5
45.9
167.1
79.4
47.3
170.0
78.2
48.1
179.3
79.9
50.9
180.9
82.5
54.0
38.4
44.3
38.0
40.5
43.6
48.5
162. 77 177.36 167.47 171.23 175.58 179. 18 183.81 188.25
Gross national product
Personal consumption expenditures
_
Durable goods _. .
Nondurable goods
Services
-
44.4
162.3
144.8
169.8
162.1
178.9
156.0
188.6
178.1
168.0
148.0
176.9
167.4
172.9
151.9
182.9
171.6
177.0
154.1
186.2
176.0
180.7
157.5
190.0
180.3
184.9
60.5
95.2
184.3
188.4
162.1
199.1
188.4
179.1
171.3
198.6
194.2
186.8
224.7
184.9
176.8
207.4
188.5
180.5
214.3
192.5
185.7
222.4
196.4
189.1
229.5
199.9
192.4
233.3
203.3
195.1
236.4
159.7
200.5
202.7
202.0
170.2
218.6
221.7
219.9
163.2
207.7
210.1
207.7
165.6
212.6
215 2
213.6
169.0
217.4
220.7
219.4
171.7
221.9
225.2
223.1
174.5
223.3
226.3
224.2
177.0
229.4
232.6
230.1
140.3
149.4
142.4
145.5
148.5
151.0
152.4
155.2
Net exports of goods and services
Exports
- Imports
1,970.5 2,130.8 2,037.9 2,092.1 2,081.3 2,132.6 2,217.1 2,299.7
Agriculture, forestry, and
fisheries...
Mining
Construction
191.5
245.4
211.0
290.1
197.9
265.2
203.4
284.2
207.6
290.4
213.4
289.7
219.9
296.4
226.0
301.0
Government purchases
goods and services
Federal
National defense
Nondefense
State and local
168.1
165.1
165.7
163.8
169.8
184.4
183.9
185.6
180.6
184.7
174.0
172.8
173.8
170.8
174.7
178.1
176.5
178.9
172.1
179.1
181.6
179.5
181.4
176.2
18 .8
185.1
182.4
185.2
176.7
186.7
192.8
197.4
196.8
198.7
190.0
196.3
199.4
201.0
196.4
194.4
Gross private domestic investment
Fixed investment
Nonresidential .
Structures
Producers'
durable
equipment
Residential .
Nonfann structures
Farm structures Producers'
durable
equipment
Change in business inventories
Wholesale trade.
Retail trade
Finance, insurance, and
real estate
Services
121.9
168.9
133.8
180.0
128.0
172.7
129.8
171.8
134.5
177.8
131.4
183.6
139.6
186.6
256.3
275.3
290.8
314.8
271.1
293.0
280.7
303.2
284.1
308.9
294.3
319.1
304.0
327.9
Government and government enterprises
277.8
301.7
287.1
292.5
297.6
302.5
314.0
320.6
43.8
49.7
46.6
51.5
48.1
50.5
48.6
51.0
Rest of the world
II
Implicit price deflators, 1972—100
Billions of dollars
Private industries ..
I
1981
Seasonally adjusted
Seasonally adjusted at annual rates
Domestic industries
1980
1979
of
Table 6.20.—Corporate Profits by Industry
Fixed-weighted price indexes, 1972=100
1979
1979
1980
1981
1980
IV
I
11
i
III
IV
lr
Seasonally adjusted at annual rates
Billions of dollars
Corporate profits with
IV A and CCAdj
196.8
182.7
189.4
200.2
169.3
177.9
183.3
202.6
29.8
136.7
166.5
151.5
27.9
123.6
157.7
30.4
127.3
163.6
31.0
132.6
140.0
27.4
112.5
147.0
25.8
121.2
155.6
27.4
128.2
174.9
25.5
149.5
30.3
31.1
31.7
36.6
29.3
30.9
27.7
27.7
IVA
212.7
199.8
204.5
215.6
186.9
195.9
201.0
219.5
Domestic industries
182.4
168.7
172.9
179.0
157.5
165.0
173.4
191.8
31.6
Financial
Federal Reserve Banks, . - 9.6
Other
22.0
30.6
11.9
18.7
32.6
10.5
22.1
33.3
11.9
21.4
30.1
12.7
17.4
28.7
11.3
17.4
30.5
12.0
18.5
28.7
13.5
15.2
150.8
88.9
39.5
138.1
74.5
20.9
140.3
80.2
29.3
145.7
92.1
28.1
127.5
61.3
10.1
136.2
68.5
19.4
142.9
76.2
25.8
163.1
4.2
3.1
2.8
5.9
2.0
.7
3.8
5.0
3.9
4.8
5.2
1.7
3.9
4.8
8.8
6.3
8.0
7.3
5.7
6.2
6.1
6.3
5.3
6.6
3.8
5.5
5.3
-2.9
6.0
64.0
-8.8
5.6
51.2
-4.8
8.0
49.1
-.8
6.6
50.4
Domestic industries
Financial
Nonflnancial
Rest of the world
Corporate profits with
Nonfinancial
Manufacturing
Durable goods
Primary metal industries
Fabricated metal
products
M a c h i n e r y , except
electrical
Electric and electronic
equipment
Motor vehicles and
Other
Nondurable goods
Food and kindred
products
Chemicals and allied
products
Petroleum and coal
products
Other
Transportation and public
utilities
Wholesale and retail trade.
Other
Rest of the world
4.3
10.8
49.4
6.5
53.7
5.7
g
8.8
50.9
6.9
7.3
6.7
8.2
6.7
5.7
7.5
6.6
8.8
6.0
7.0
8.1
18.3
16.0
24.6
14.3
23.7
13.8
31.0
16.0
25.3
13.2
22.2
14.2
19.9
13.8
18.0
23.0
20.8
18.5
20.9
24.1
14.9
22.6
22.6
16.1
14.8
22.7
16.6
25.9
23.7
22.5
20.4
24.8
18.8
22.6
25.2
30.3
31.1
31.7
36.6
29.3
30.9
27.7
ex-
- -
Gross private domestic investment
Fixed investment
Nonresidential .
Structures
Producers'
durable
equipment
Residential
Nonfarm structures
Farm structures
Producers'
durable
equipment
Change in business inventories .Net exports of goods and services
Exports
Imports
Government purchases
goods and services
Federal
National defense ..
Nondefense
State and local
of
Addenda:
Gross domestic purchases 1..
Final sales
_
Final sales to domestic purchases l
Personal consumption expenditures, food
Personal consumption expenditures, energy
Other personal consumption
expenditures
8.6
8.2
167.3
Gross national product
Personal consumption
penditures
Durable goods
Nondurable goods
Services
Gross domestic product
Business.
Nonfarm __
183.3
173.1
177.1
181.1
185.1
189.7
194.4
166.0
147.7
174.0
164.9
184.3
160.1
195.6
182.0
172.4
151.1
182.2
170.6
177.8
155.2
189.1
175.2
182.1
158.3
193.1
180.1
186.3
162.0
197.3
184.3
190.8
164.9
202.9
188.5
195.8
166.7
209.5
193.0
185.0
176.7
194.9
203.8
195.5
217.9
191.7
183.0
203.3
196.7
188.0
210.3
202.4
193.9
216.7
207.1
198.6
221.0
209.7
202.0
224.1
214.9
206.7
229.0
166.2
200.9
182.6
219.6
171.4
208.1
175.2
213. 2
180.8
218.4
185.8
223.1
189.4
224.3
193.9
230.4
196.7
244.2
217.1
302.9
203.4
264.3
209.9
290.3
213.2
299.4
219.1
308.7
226.6
315.5
233.0
323.7
171.8
169.0
170.8
164.6
173.6
190.8
191.2
195.1
181.1
190.5
179.3
179.3
182.1
172 .4
179.3
184.4
184.5
187.8
176.0
184.3
188.4
187.8
191.6
178.2
188.8
192.1
190.8
194.7
180.4
193.0
198.2
201.2
205.8
189.5
196.2
202.3
204.9
209.3
193.7
200.6
170.3
167.2
188.8
183.2
177.0
173.0
182.3
177.0
186.7
181.0
190.9
185.0
195.4
189.6
200.2
194.3
170.3
188.7
176.9
182.2
186.6
190.8
195.4
200.2
178.4
192.7
183. 3
185.3
187.9
195.1
202.6
205.8
241.1
317.1
273.3
304.1
318.7
320.3
325.2
353.1
155.5
169.5
159.9
164.0
167.8
171.3
175.0
178.4
167.3
168.0
166.9
183.3
184.5
173.1
174.0
177.2
178.2
181.2
182.4
185.1
186.7
189.8
190.9
194.4
195.7
Table 7 1-7 2:
1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic
purchasers equals final sales less exports plus imports.
27.7
SUEVEY OF CUKKENT BUSINESS
May 1981
1979
1979
1980
IV
1981
1980
I
II
13
III
IV
1980
1979
Ir
1979
1980
IV
I
Seasonally adjusted
162.7
177.4
167.4
171 0
174.9
179.18 183.81 188.25
179.7
184.1
187.8
156.6
169.9
160.2
163.8
168.1
171.8
176.3
181.3
Final sales
Change in business inventories
156.3
170.1
160.1
163.2
167.3
172 9
177.0
180.3
Durable goods
Final sales
Change in business inventories
Nondurable goods
Final sales.. _.
_ _ _.
Change in business inventories
152.0
151. 5
164.1
164.5
154.7
154.7
157.0
158.6
164.2
163 4
166. 3
167 0
169.2
169.1
173.3
173.0
Goods
IV
Ir
Dollars
Table 7.3.—Implicit Price Deflators for Gross National Product by
Major Type of Product
Gross national product.. 162.77 177.36 167.47 171.23 175.28
III
Seasonally adjusted
Index numbers, 1972=100
Final sales
Change in business inventories
r
II
1981
160.2
160.1
174.2
174.2
164.3
164.2
168 7
166.7
170 9
170.1
175 7
177. 2
181. 8
182.8
187.0
185.6
Services
161.8
176.7
166.9
170.6
174 6
178 5
183.2
199.7
222.1
207.8
213 9
220 6
226 0
228.5
166. 1
182.2
171.8
176.6
180.5
183.3
188.4
192.6
166.0
182.2
171.8
176.3
180.1
183.8
188.7
192.2
Capital consumption allowances with CCAdj
Net domestic product—
Indirect business tax and
nontax liability plus business transfer payments
less subsidies.
Domestic income
Compensation of employees
Corporate profits with
IVAand CCAdj
Profits tax liability
Profits after tax with
IV A and CCAdj
Net interest
233.3
Addenda:
Gross domestic purchases 1 _.
Final sales to domestic purchasers 1
Current-dollar cost and
profit per unit of constant-dollar gross domestic product '
1.623
1 770
1.669
1.710
1.754
1.787
1.830
1.877
.169
1.454
.191
1.579
.175
1.494
.180
1.530
.192
1.562
.196
1.591
.197
1.633
.197
1.680
.153
1.301
.176
1.403
.157
1.337
.161
1.369
.173
1.389
.181
1.411
.188
1.444
.200
1.480
1.092
1.196
1.135
1.158
1.193
1.203
1.230
1.246
.157
.080
.143
.073
.146
.078
.151
.085
.132
.061
.141
.070
.146
.075
.166
.079
.077
.052
.070
.065
.067
.056
.066
.060
.071
.064
.071
.067
.071
.068
.088
.068
187.2
Structures
Table 7.7.—Current-Dollar Cost and Profit Per Unit of ConstantDollar Gross Domestic Product of Nonfinancial Corporate Business
Table 7.4.—Implicit Price Deflators for Gross National Product by
Sector
Gross national product. . 162.77 177.36 167.47 171.23 175.28
179.18 183.81 188.25
162.8
177.4
167.5
171.3
175.3
179.2
183.8
188.3
162.6
161.5
163. 1
147.8
200 8
162.6
177.4
177.0
179.0
160.9
193 1
177.4
167.3
166.4
168.0
152.8
198 5
167.3
171.2
170.8
172.6
155.6
183 0
171.2
175.4
175.3
177.3
158.8
178 6
175.4
179.5
178.8
180.8
162.5
205 3
179.5
183.8
183.1
185.2
166.4
208.8
183.8
188.3
188.0
190.2
169.6
200.9
188.3
Households and institutions- 173.2
Private households
180. 3
Nonprofit institutions
172.6
189.5
193.8
189.1
179.0
185.6
178.4
183.2
188.8
182.7
187.7
191.8
187.4
190.7
195.0
190.3
196.0
199.8
195.7
201.2
203.4
201.0
Government
Federal
State and local
161.3
154.7
164.4
173.5
166. 6
176.7
165.9
161.6
168.0
168.7
162.4
171.7
171.2
162.8
175.1
173.5
163.2
178.3
180.5
178.0
181.7
184.0
179.7
186.0
Rest of the world
161.0
175.4
165.7
169.4
173.2
177.2
182.0
186.6
Addendum:
Gross domestic business
product less housing
164. 3
179.4
168.9
172.9
177.4
181.5
185.9
190.5
Gross domestic product
_
Business. . _
Nonfarm
_
Nonfarm less housing
Housing
Farm
Statistical discrepancy
Table 7.5.—Implicit Price Deflators for the Relation of Gross
National Product, Net National Product, and National Income
Gross national product. . 162.77 177.36 167.47 171.23 175.28
Less: Capital consumption allowances with C C Adj
179.18 183.81 188.25
179.1
194.8
184.0
188.2
193.5
197.2
200.0
202.8
Equals: Net national product- 161.0
175.4
165.7
169.4
173.2
177.2
182.0
186.6
Less: Indirect business tax
and nontax liability
plus business transfer
payments less subsidies
plus current surplus of
government enterprises. 135.7
146.4
137. 6
139.6
144.7
147.5
153.7
164.8
Statistical discrepancy. . 162.6
177.4
167.3
171.2
175.4
179.5
183.8
188.3
164.1
179.1
169.1
173.1
176.8
180.9
185.6
189.4
Equals: National income
Table 7.8:
1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic
purchases equals final sales less exports plus imports.
Table 7.7:
1. Equals the deflator for gross domestic product of nonfinancial corporate business with
the decimal point shifted two places to the left.
Table 7.8:
1. Consists of final sales and change in business inventories of new autos produced in the
United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and
government purchases.
http://fraser.stlouisfed.org/
Table 7.9:
1. Includes new trucks only.
Federal Reserve Bank of St. Louis
Index numbers, 1972=100
Table 7.8.—Implicit Price Deflators for Auto Output
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
Change in business inventories
. .
Addenda:
Domestic output of new
autos '
Sales of imported new
autos 2 .
145.5
155.9
149.1
151.3
155.0
156.8
160.5
146.4
155.8
148.9
152.7
153.8
156.8
160.2
159.7
158.3
149.4
169. 4
161.2
160.9
152.4
163.8
156.4
166.8
160.4
171.0
164.5
176. 5
164.6
176.2
164.3
133.2
149.4
146.5
161.3
136.1
152.2
141.2
156.2
150.8
160.2
154.9
164.3
140.5
164.4
136.9
164.9
150. 0
195.6
147.6
164.7
211.4
167.5
152.8
199.5
155.6
156. 7
201.7
160.4
160.8
209. 8
172.1
182.4
219.5
173.0
165.1
214.1
165.6
164.9
229.4
162.3
149.2
161.7
152.6
156.7
160.2
165.7
164.4
164.4
149.5
161.4
152.4
156.4
160.5
164.5
164.6
164.4
158.6
Table 7.9.—Implicit Price Deflators for Truck Output
Truck output ]
Final sales
Personal consumption expenditures
Producers' durable equipment
Net exports
Exports
_.
Imports
Government purchases
Change in business inventories
169.1
186.5
172.0
178.0
185.8
189.5
194.0
169.1
186.5
172.9
178.4
184.8
189.7
195.0
198.7
149.4
161.2
152.5
156.4
160.6
164.4
164.7
164.3
177.2
194.5
181.4
186.1
191.3
197.4
205.2
210.1
177.5
163.7
177.5
195.0
176.4
194.9
181.4
164.4
181.3
186.1
168.7
186.1
191.2
168.7
191.3
197.4
180.0
197. 3
205.2
186.4
205.2
210.1
185.3
210.1
198.5
Table 7.11.—Implicit Price Deflators for Personal Consumption
Expenditures by Major Type of Product
Personal consumption
expenditures
162.3
178.9
168.0
172.9
177.0
180.7
184.9
188.4
144.8
154.6
156.0
167.1
148.0
158.0
151.9
161.9
154.1
164.9
157.5
168.8
160.5
173.2
162.1
173.5
135.6
142 7
143.6
161 7
138.0
148 1
140.4
154.7
142.5
160.6
144.8
164.4
146.5
167.3
148.6
168.1
169.8
Nondurable goods
176.6
Food __
129.2
Clothing and shoes
243.4
Gasoline and oil
Other nondurable goods
167.8
Fuel oil and coal
... 340.6
Other
_
155.9
188.6
190.5
134.3
339.4
187.5
471.4
170.1
176.9
181.5
130.8
285.1
174.8
406.6
160.0
182.9
183.1
132.9
330.6
180. 3
450.9
164.1
186.2
185.7
133.3
345.1
185.9
473.3
168.5
190.0
193.0
134.5
338.6
190.6
476.6
172.1
195.2
200.3
136.5
343.7
193.4
484.5
175.8
199.1
203.7
137.0
376.6
197.9
558. 7
179.3
162.1
151.9
165.5
205.2
140.5
161.2
170.4
178.1
165.6
181.5
239.4
146.3
184.3
187.0
167.4
157.3
170.8
216.6
142.5
168.5
175.2
171.6
160.3
173.7
224.4
143.7
174. 3
180.6
176.0
163.5
178.2
235.6
143.5
180.7
185.9
180.3
167. 3
185.6
245.6
147.9
189.7
188.4
184.3
171.3
188.2
250.9
150.2
192.4
193.1
188.4
174.7
192.5
258.9
153.8
193.9
198.5
Durable goods
Motor vehicles and parts
Furniture and household
equipment
Other
Services
Housing -. _ _ _ _ _ _ _ _ _ _
Household operation
Electricity and gas
Other _
_
Transportation
Other
SURVEY OF CURRENT BUSINESS
14
1979
1980
IV
1981
1980
1979
I
H
May 1981
III
IV
1980
1979
1979
I'
1980
IV
I
II
1981
III
IV
I'
Seasonally adjusted
Seasonally adjusted
Index numbers, 1972 =100
Index numbers, 1972=100
Table 7.14B.—Implicit Price Deflators for Government Purchases
of Goods and Services by Type
Table 7.17.—Implicit Price Deflators for Merchandise Exports and
Imports by Type of Product and by End-Use Category
I
Government purchases
of goods and services.. 168.1
184.4
174.0
178.1
181.6
185.1
192.8
196.3
165.1
183 9
172.8
176.5
179.5
182.4
197.4
199.4
National defense
Durable goods
Nondurable goods
Services.
Compensation of employees
_.
Military
Civilian
Other services
Structures
165.7 185 6 173.8
162.0 179.1 166.6
292 4 441 5 344.6
160 3 174 6 167.5
178.9
172.6
425.0
169.0
181.4
176.2
420.7
170.8
185. 2
182.6
451.6
172.9
196.8
184.8
465.1
185.8
201.0
192.0
472.2
189.0
152.3
147.6
159.0
177.8
174.4
164.7
160 9
170.2
194.0
198.3
159.5
155.3
165.5
184.6
185.8
160.3
155.9
166.4
186.6
192.3
160.7
156.4
166.8
1900
198.1
161.1
156.8
167.3
195.9
199.6
176. 9
174.5
180.3
203.0
203.1
178.4
176.0
182.0
208.8
206.9
Nondefense
Durable goods
Nondurable goods
ServicesCompensation of employees
Other services
Structures
163.8
93 o
180.6
167 5
170.8
172.1
160.6
176.2
165.4
176.7
168.6
198.7
175.2
196.4
186.6
176.9
168.8
171.5
173.7
176.6
185.9
189.7
159.1 170 0
166.9 185.4
186.0 207.7
165.5
173.2
194.1
166.3 166.7
178.1 182.5
200.1 206.0
167.2
187.7
211.0
180.2
192.8
214.2
182.0
199.3
218.9
184.7
174.7
179.1 182.8
186.7
190.0
194.4
157.7
175.1
165.8
169.7
191 7
179.4
161.2
180.6
170.0
165.1
184.9
174.0
170.6
194.7
181.3
175.0
198.2
184.7
178.3
202.2
189.1
164.4
170.2
197.6
176 7
187.5
220.8
168.0 171.7
175.9 180.7
206.1 213.2
175.1 178.3 181.7
185.5 190.2 193.5
219.6 224.7 226.3
186.0
198.1
231.6
Federal . .
State and local
Durable goods
. ..
Nondurable goods
Services
Compensation of employees
Other services
Structures
162.4
169.8
168.1
188.6
177.7
Table 7.16.—Implicit Price Deflators for Exports and Imports of
Goods and Services
211.0
197.9
203.4
207.6
213.4
219.9
226.0
Merchandise
Durable goods
Nondurable goods
213.7
203.8
229.1
236 7
229.7
247 2
221.5
209.2
239.6
228.3
218.5
244.0
232.2
225.9
241.8
238.5
233.1
246.4
248.4
242.6
256.8
255.8
250.4
262.9
Services
Factor income
Other
162.8
161.3
165.6
176. 5
175.3
179.0
167.2
165.7
170.2
170.7
169.4
173.6
174.6
173.2
177.1
178.4
177.2
180. 6
182.8
182.0
184.2
187.1
186.6
187.9
Exports of goods and services.. 191.5
Merchandise exports
213.7
Merchandise imports
Foods, feeds, and beverages...
Industrial supplies and materials, excluding petroleum.
Durable goods
Nondurable goods
Petroleum and products
Capital goods except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Addenda:
Exports:
Agricultural products
Nonagricultural products.—
Imports of nonpetroleum
products
221.5
228.3
232.2
238.5
248.4
255.8
222.8
235.1
229.1
228.7
221.6
234.1
255.4
263.1
251.7
251.8
251.7
189.1
215.8
187.5
203.4
174.5
213.0
213.0
213.0
282.9
282.9
282.9
212.2
249.7
199. 5
231.1
172.6
235.9
235.9
235.9
269.5
269.5
269.5
190.2
222.7
192.5
212.5
176.3
221.5
221.5
221.5
285.1
285.1
285.1
196.0
234.5
200.7
227.9
170.8
228.2
228.2
228.2
282.8
282.8
282.8
207.4
243.1
192.4
226.8
166.3
232.1
232.1
232.1
217.9
255.0
201.7
232.2
176.9
238.5
238.4
238.7
283.1
283.1
283.1
228.1
267.3
202.9
238.9
176.4
248.4
248. 5
248. 2
292.6
292.6
292.6
237.5
270.6
199.2
237.4
173.5
255.7
255.6
255.8
271.6
Foods, feeds, and beverages _.
Industrial supplies and materials
Durable goods
Nondurable goods
Capital goods, except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
236.7
332.3
298.9
327.0
334.8
328.4
339.1
346.7
228.4
270.1
247.1
260.4
266.6
276.0
277.3
277.0
244.5 301.1 267.7 296.6 299.2
244.9 306.6 267.7 303.3 303.8
244.1 293.2 267.7 286.2 292.9
702.0 1,153.8 893.3 1,059.7 1,163.2
178.6 205.4 182.2 195.3 208.1
231.9 248.5 233.5 239.3 235.0
203.7 221.2 203.8 216.3 214.2
186.4 195.0 188.1 190.7 188.8
236.9 282.4 234.6 278.6 273.2
217.5 246.2 226.7 239.2 242.2
217.5 246.2 226.8 239.3 242.2
217.5 246.2 226.6 239.0 242.2
303. 8 305.9 300.3
309.3 311.0 301.3
296.5 298.3 299.0
1.191.6 1,231.0 1, 319.6
208.1 210.4 209.6
252. 3 267.4 277.4
226.2
228.5 233.8
198.1 202.8 206.5
289.1 289.0 300.0
249.1 254.2 257.5
249.3 253.9 257.5
248.8 254.4 257.5
222.4
211.6
234.5
237.2
229.0
219.5
229.8
227.9
220.7
234.9
234.0
239.6
253.5
247.1
261.8
254.2
217.8
248.4
226.7
242.3
244.4
251.1
256.2
257.7
Table 7.21.—Implicit Price Deflators for Inventories and Final Sales
of Business
206.7
Inventories *
Farm
Nonf arm
Durable goods .__ _ _.
Nondurable goods
211.0
215.5
223.7
230.6
234.2
193 7
208.6
200.0
222 0
178.4
215.8
204.6
232.9
186.8
219.7
207.2
238.7
213 6
225. 2
211.2
246.3
215.4
232.8
218.8
254.3
203.6
238.6
221.8
263.9
290.1
265.2
284.2
290.4
289.7
296.4
301.0
Merchandise _
Durable goods
Nondurable goods .
271.6
209.8
369.9
332.3
235.4
507.2
298.9
216.1
431.6
327.0
230.0
498.4
334.8
230.8
517.6
328.4
237.0
498.6
339.1
243.9
514.2
346.7
244.0
529.5
Manufacturing..
Durable goods
Nondurable goods
_.
213.3
205 9
228.9
220.6
211.1
240.6
225.1
213.7
248.9
229.9
217 6
255.9
237.5
225.1
264.1
242.8
227.8
274.7
Services
Factor income
Other
182.9
161.5
199.5
201.1
175 3
225.5
189.5
165.7
212.0
193.2
169.4
217.3
198.6
173.3
222.7
205. 2
177.2
228.3
208.1
182.0
234.0
211.7
186.6
239.9
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers.
Durable goods
Nondurable goods
209.7
198.2
231.8
201.4
196 2
211.6
247.8
207.6
317 9
216.1
201.2
244.4
206.3
200.8
217.1
260.3
203.1
354 4
220.3
204.7
250.6
211.1
204.6
224.2
262.0
204.9
356.6
226.2
209.5
258.1
218.7
200.6
236.6
261.2
208.9
351.9
234.7
217 2
268.5
226.0
217.4
243.0
275.8
216 1
379.0
242.0
222.1
280.5
229.8
221.6
246.4
298/1
224.6
420.7
Retail trade
__. __.
Durable goods
Nondurable goods
Other
183.6
183.3
184.0
248.8
189.3
187.6
190.8
258.1
191.6
188.7
194.2
261.5
195. 7
192.0
199.0
274.6
201.8
200.4
203.0
284.7
204.4
201.2
207.2
295.5
Final sales 2 _ .
Final sales of goods and structures
167.3
170.8
175.0
180.1
184.1
187.8
167 9
171.2
175.2
180.7
184.9
188.3
Imports of goods and services.. 245.4
Table 7.21:
1. Inventories are as of the end of the quarter.
2. Business final sales equals final sales less gross product of households and institutions,
government, and rest of the world.
Table 8.1.—Percent Change From Preceding Period in Gross National Product in Current and Constant Dollars, Implicit Price
Deflator, and Price Indexes
1979
1979
1980
IV
1981
1980
I
II
III
IV
Ir
1979
1980
IV
Seasonally adjusted
Gross national product:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index..
12.0
3.2
8,5
8.7
9.4
Personal consumption
expenditures:
Current dollars
1972 dollars
Implicit price deflator.
Chain price index.
Fixed-weighted price index _.
Durable goods:
Current dollars. ._
1972 dollars
Implicit price deflators..
Chain price index
Fixed-weighted
price
index
Nondurable goods :
Current dollar ._
1972 dollars
Implicit price deflator. _.
Chain price index
Fixed-weighted
price
index
Services:
Current dollars
1972 dollars
Implicit price deflator. _
Chain price index
Fixed-weighted
price
index
Structures:
Current dollars
1972 dollars
Implicit price deflator.
.__
Chain price index. .
Fixed-weighted
price index
Producers' durable
equipment :
Current dollars
1972 dollars
Implicit price deflator
Chain price index..
Fixed- weighted
price index
Residential:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted
price index
Exports:
Current dollars
1972 dollars
Implicit price deflator
Chain price deflator.
Fixed-weighted price index..
III
IV
Ir
Percent
Percent at annual rates
8.8
.6
8.1
8.6
10.3
12.6
3.1
9.3
8.7
9.7
-1.1
-9.9
9.8
8.8
9.3
11.8
2.4
9.2
9.3
9.0
14.9
3.8
10.7
10.5
10.4
19.3
8.4
10.0
9.9
10.2
Imports:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed- weighted price index.
21.6
6.0
14.7
17.2
16.2
18.1
-.1
18.2
25.2
24.0
38.7
9.1
27.2
28.1
23.1
47.4 -14.8 -21.2
11.9 -21.9 -20.4
-1.0
31.8
9.0
11.9
38.8 16.2
45.5 13.1
13.1
37.8
25.8
9.6
9.6
9.0
22.9
15.6
6.3
11.8
10.8
12.0
2.9
8.9
9.3
9.6
10.7
.5
10.2
10.6
11.0
14.7
3.6
10.7
10,9
11.4
12.9
.8
12 0
12.5
13.2
-1.0
-9.8
9.8
9.7
9.9
14 3
5.1
8.8
9.5
9.5
17.4
7.0
9.7
10.1
10.1
13.1
5.0
7.8
10.3
10.8
Government purchases of
goods and services:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index.
9.5
1.5
7.9
8.4
9.3
12.9
2.9
9.7
9.7
11.1
18.8
6.1
12.0
12.5
14.8
17.5
6.9
9.9
10.3
11.8
10.6
2.5
7.9
8.3
9.0
2.6
-5.0
80
8.5
8.1
20.2
2.2
17.6
12.8
13.3
12.7
4.8
7.5
8.7
8.6
6.5
.2
6.3
6.8
-.2
-7.4
7.7
8.4
5.4
-1.8
7.3
7.5
9.2 -40.0
-1.6 -43.3
11.0
5.8
11.2
8.5
32.9
21.7
9.2
8.8
30.9
21.2
8.0
7.8
27.6
22.7
3.9
4.7
9.5
1.9
7.4
8.3
18.5
6.3
11.4
11.0
35.4
13.1
19.7
21.3
29.5
18.9
8.9
9.4
19.8
11.9
7.0
6.7
-7.5
-13.1
6.4
7.5
40.2
2.0
37.4
22.9
19.0
14.3
4.1
8.4
6.8
8.4
7.4
8.3
9.7
7.4
4.5
Federal:
Current dollars
1972 dollars
Implicit price deflator. _.
Chain price index
Fixed-weighted price
index
9.2
13.1
24.5
12.1
7.3
6.5
236
7.6
National defense:
Current dollars
1972 dollars
Imi licit price deflator.
Chafn price index
Fixed-weighted
price index
11.2
2.6
8.4
8.8
18.4
5.7
12.0
11.8
26.2
7.1
17.9
22.2
23.2
9.8
12.2
9.1
12.4
6.2
5.8
7.0
8.4
-. 1
8.6
7.2
35.0
5.9
27.5
23.6
10.0
1.0
8.9
7.7
9.8
14.3
26.6
13.3
8.1
7.1
24.4
7.0
6.1
.6
18.6
7.5
56.4
26.4
42.9
38.4
35.0
23.1
-32.2
-33.1
51.2
-5.3
38.9
45.4
5.5
7.4
10.3
9.4
23.8
19.4
3.3
10.1
9.7
6.1
1.3
8.2
59.7
21.4
-4.5
9.9
7.7
10.0
19.1
8.8
5.1
5.0
21.6
9.2
9.6
1.2
8.2
8.5
9.8
1.0
8.7
9.0
10.6
2.4
8.1
8.0
11.2
.6
10.5
10.7
56
-2.8
8.6
9.2
9.1
.3
8.8
9.1
9.7
2.3
7.2
7.2
8.9
-.5
9.5
8.9
9.3
9.7
8.8
11.7
10.2
9.1
6.8
9.3
11.3
2.3
8.8
9.3
9.7
8.4
-1.1
9.7
10.3
10.8
10.7
.4
10.3
10.8
11.6
12.6 -2.4
1.0 -10.6
9.2
11.5
10.0
11.6
12.5
9.9
7.3
.8
6.5
9.3
9.3
18.9
6.6
11.5
9.9
10.0
17.2
7.2
9.4
9.9
10.1
9.8
.7
9.0
8.6
9.6
11.4
2.9
8.2
8.6
10.3
12.0
3.1
8.7
8.9
9.6
-1.8
15.9
15.0
15.9
Implicit price deflator
Chain price index
Fixed-weighted price index-
12. 3
3.5
8.5
8.7
9.4
9.6
8.6
9.5
11.3
9.3
9.0
10.2
10.6
10.4
8.3
9.9
10.3
Final sales to domestic
purchasers:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index. .
11.6
2.6
8.8
9.2
9.7
9.5
-.2
9.7
10.3
10.9
13.3
2.7
10.3
10.8
11.6
12.0 -3.2
1.0 -11.2
9.0
10.9
11.7
9.8
12.5 10.1
11.2
2.5
8.5
9.3
9.2
19.0
7.2
10.9
9.9
10.0
13.8
5.7
7.7
9.9
10.2
Gross domestic product:
11.5
Current dollars . -_
2.8
1972 dollars
8.5
Implicit price deflator
8.7
Chain price index
Fixed-weighted price index. . 9.4
8.7
-.2
9.0
8.6
9.6
9.3
1.0
8.1
8.6
10.3
12.0
2.5
9.3
8.7
9.7
-.6
-9.4
9.8
8.8
9.3
11.6
2.2
9.2
9.3
9.0
15.6
4.4
10.7
10.5
10.4
19.3
8.4
10.0
9.9
10.2
11.9
2.9
8.7
9.0
8.5
-.5
9.1
8.7
8.8
1.1
7.6
8.1
12.5 -1.9
2.7 -11.1
9.5 10.3
8.9
9.1
12.3
2.3
9.7
9.9
15.4
5.0
9.9
9.7
20.8
9.6
10.2
10.1
9.7
9.8
10.0
9.8
9.6
9.3
10.5
11.8
3.1
9.1
-.4
9.8
1.7
12.9 -1.1
1.7 -10.8
11.6
3.1
17.6
6.9
19.3
7.4
8.5
8.8
9.6
8.0
11.0
10.9
8.3
10.0
11.0
11.0
.7
11.6
.8
13.5
1.3
4.4
-4.9
13.3
4.1
12.8
2.9
10.9
2.9
11.1
13.7
2.6
10.8
11.3
12.2
1.1
11.0
12.0
19.4
6.8
11.8
12.8
14.4
.2
14.2
14.9
1.8
-5.3
7.5
8.3
6.3
-1.8
8.3
9.4
18.5
6.3
11.5
11.8
12.9
4.3
8.2
12.5
11.6
12.4
13.5
16.0
8.6
9.2
11.8
13.6
12.4
4.1
8.0
8.3
12.8
2.6
9.9
10.2
13.5
2.8
10.5
10.4
12.7
2.1
10.4
10.9
10.8
0
10.7
11.2
17.0
6.4
10.0
9.9
13.1
3.7
9.1
9.3
9.6
.3
9.3
9.8
8.5
10.4
10.6
11.1
11.7
9.9
9.3
9.9
Fized investment:
12.8
Current dollars
1972 dollars
3.1
Implicit price deflator.. . 9.4
10.2
Chain price index
Fixed-weighted
price
10.7
index
Chain price index
Fixed-weighted price
index
II
8.8
-.2
9.0
8.6
9.6
Gross private domestic investment:
10.8 -4.9 -10.6
Current dollars
1972 dollars- ..
1.3 -12.5 -17.8
Implicit price deflator
Chain price index
._ _ _ .
Fixed-weighted price index. .
Nonresidential:
Current dollars
1972 dollars
Implicit price de-
I
1981
Seasonally adjusted
Percent at annual rates
Percent
1980
1979
5.6 -21.8
-5.6 -28.9
-13 3
-10.0
23.7
11.1
43.6
21.8
2.2 -25.8
-5.3 -31.8
8.9
7.9
12.3
10.5
10.5
2.1
8.3
9.7
24.2
15.7
7.4
5.3
18.2
10.5
6.9
9.7
12.0
9.7
5.2
10.2
11.0 -10.4
2.2 -19.9
6.0
-1.5
11.5
4.0
19.9
13.3
.7
-7.1
8.5
10.0
2.5
-4.8
7.7
8.4
10.1
8.4
15.6
6.5
5.8
-3.0
2.3
-5.4
8.6
9.0
9.1
10.3
8.2
9.4
8.6
10.7
11.8
13.1
7.6
10.0
7.2
6.3
5.8
9.1
9.7
10.6
9.8
11.3
13.1
10.2
7.0
9.5
22.4
8.7
13.0
-.1
24.0
10.3
.7
12.4
-1.4 -13.1
-4.0
-15.3
16.5
9.0
20.3
14.1
12.6
12.9
13.1
11.9
12.4
12.2
14.0
14.8
15.9
12.6
13.3
8.3
6.9
6.4
5.4
9.6
12.9
11.8
12.0
14.5
12.6
8.1
5.8
9.0
12.3
5.5
2.0 -7.9
-4.2 -11.6
10.8
10.2 -16.3
22 7
3.8
12.3
5.3
8.7
1.9
19.6
13.0
6.4
7.1
6.5
9.5
4.1
8.0
6.2
8.3
8.3
13.4
6.6
11.0
6.6
6.3
5.9
8.7
7.6
9.8
8.3
9.1
13.4
11.6
7.9
9.9
25.7
16.0
68.5
64.2
13.7
2.0
6.6 -11.3
-5.2 -18.6
2.8 -16.7 -56.4
-3.1 -24.2 -60.2
12.5
12.6
9.0
9.3
6.1
6.1
9.8
10.1
9.5
10.2
8.4
8.9
2.6
2.1
11.4
11.5
12.6
9.3
6.2
10.1
10.2
8.8
2.1
11.5
28.0
15.2
11.1
12.0
12.6
20.8
9.6
10.2
10.1
10.3
19.2
9.4
8.9
7.4
8.0
47.1 -4.7
32.0 -12.3
8.6
11.5
12.4
6.8
6.5
13.5
11.'
4.4
-7.4
12.8
14.7
14.5
40.6
26.0
11.5
11.7
11.7
1L6
11.5
11.5
NOTE.—T he implicit price deflator for GNP is a weighted average of the detailed price
Digitized forused in the deflation of GNP. In each period, the weights are based on the composition
indexes FRASER
of constant- dollar output in that period. In other words, the price index for each item (1972=
http://fraser.stlouisfed.org/
100) is wei g hted by the ratio of the quantity of the item valued in 1972 prices to the total output
in Reserve Changes in Louis
Federal1972 pri ces.Bank of St.the implicit price deflator reflect both changes in prices and changes
Nondefense:
Current dollars
1972 dollars
Implicit price deflator
Chain price index...
Fixed-weighted
price index
.
State and local:
Current dollars
1972 dollars
Implicit price deflator. Chain price index
Fixed-weighted price
index
Addenda:
Gross domestic purchases:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed- weighted price index..
Final sales:
Current dollars
Business:
Current dollars
1972 dollars
Implicit price deflator ...
Chain price index
.
Fixed-weighted price
index
Nonfarm:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted
price index
Disposable personal income:
Current dollars
1972 dollars
10.1
9.5
12.2
3.1
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, comparisons of 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 time span reflect only changes in prices.
SUEVEY OF CURRENT BUSINESS
16
May 1981
Reconciliation and Other Special Tables
Table 1.—Reconciliation of Changes in Compensation Per Hour in
the Business Economy Other than Farm and Housing and
Average Hourly Earnings in the Private Nonfarm Economy,
Seasonally Adjusted
Table 2.—Reconciliation of Changes in the Implicit Price Deflator
for Personal Consumption Expenditures and the Consumer Price
Index for all Urban Consumers, Seasonally Adjusted
1980
IV'
II
1. Compensation per hour of all persons in the business
economy other than farm and housing (percent
change at annual rate) *
2 Less* Contribution of supplements
III
IV ^
1.3
9.7
9.6
11.9
.4
-.8
1.9
3. Plus: Contribution of housing and nonprofit institutions
- -
-.1
4. Less: Contribution of employees of government enterprises and self-employed and unpaid family workers.
-.1
.3
.2
5. Equals: Wages and salaries per hour of employees in
the private nonfarm economy (percent change at
annual rate)
9.7
8.8
10.4
10.2
6. Less: Contribution of nonproduction workers in manufacturing
_
-
1.0
.0
—.3
—.2
7. Less: Contribution of non-BLS data, detailed weighting, and seasonal adjustment
1.2
-.5
-.5
.6
8. Equals: Average hourly earnings, production and nonsupervisory workers in the private nonfarm economy
(percent change at annual rate)
7.4
8.8
11.2
9.8
.2
0
—. 2
4. Less: Contribution of differences in weights of comparable CPI and
PCE expenditure components
Gasoline and oil ._
Electricity, gas, fuel oil, and coal _ _ _ _ _ _
_ _
Furniture, appliances, floor coverings, other household furnishings
Food a t home _ _ _ _ _ _
_ _
Food away from home. - __ _ _
_ _ _ _ _
Apparel commodities
Rent
Other
9.7
7.8
—.5
.9
.6
—.8
.4
-1.8
.2
.2
-.5
.3
2. Less: Contribution of shifting weights in PCE
New autos
Gasoline and oil
_
Electricity, gas, fuel oil, and coal
Furniture and household equipment. .__
Food purchased for off-premise consumption
Purchased meals and beverages
Clothing and shoes
__ _ _
Housing.. _
_
Other
3. Equals: PCE chain price index (percent change at annual rate).
r
Revised.
» Preliminary.
1. Bureau of Labor Statistics estimates of changes in hourly compensation in the nonfarm
business sector for the four quarters are 11.2, 9.3, 9.6, and 11.4 percent.
IP
IP
1. Implicit price deflator for personal consumption expenditures (percent
change at annual rate)
_
10.9
1981
1981
1980
—2.2
1.9
-1.6
—1 5
.2
0
.3
.5
-.2
—1 7
10.1
10.3
—.1
—.3
—.1
—1 6
—1 1
—.5
.1
.3
-.2
.1
—.3
.3
o
.2
—.1
o
— 3
.1
5. Less: Contribution of PCE expenditure components not comparable
with CPI components
_ __
New autos
Net purchases of used autos..
Owner-occupied nonfarm and farm dwellings—space rent
Services furnished without payment by financial intermediaries
except life insurance carriers
Current expenditures by nonprofit institutions
Other. _
—.1
— 3
.4
0
—.6
_ 3
.1
-.3
—.2
.3
—.3
—.2
.3
—.1
6. Plus: Contribution of CPI expenditure components not comparable
with PCE components
__
New autos
Used autos
Homeownership
__
__
Other
2.6
—.4
1.2
2.0
-.2
— 1.1
—.4
.3
-.8
-.2
.2
.6
12.9
10.8
7. Less: Contribution of differences in seasonal adjustment
1
8. Equals: Consumer Price Index, all items (percent change at annual
rate)
r
Revised. * Preliminary.
1. These differences arise because component price indexes that are used in the BE A
measures and in the CPI are seasonally adjusted at different levels of detail.
By EDWARD F. DENISON
International Transactions in
Measures of the Nation's Production
LAI
LRGER
international transactions
and sharp changes in relative prices
have made estimates of national income
and product more sensitive to the choice
of concepts and methodologies adopted
for international transactions than they
had been before 1973. This article discusses several aspects of the treatment
of net exports of goods and services in
the national income and product
accounts (NIPA's).
The first of the article's three parts
describes the reasoning behind series
that, by a change in the way in which
net exports are deflated, introduce the
effect of changes in the relationship between export and import prices. Series
of this type—called command series—
measure the amount of goods and services over which a country has command
as a result of its current production.
They are introduced as counterparts to
the BEA series for GNP, net national
product (NNP), and national income
(NI). An appendix reviews the literature on two topics—the choice of deflators for deriving command series,
and the emergence of command series
to supplement production series. The
second part of the article discusses the
scope and deflation of international
flows of factor income in the context of
two concepts of national income and
product, the "factor nationality" and
"national gain" concepts. Focus is on
two changes made in the recent comprehensive revision of the NIPA's: the
addition of reinvested earnings of incorporated foreign affiliates to the factor income flows, and the use of the
deflator for net domestic product to deNOTE.—Isaiah Frank, Robert Z. Lawrence,
Walter S. Salant, and several persons within
BEA provided helpful comments.
flate the factor income flows. The third
part describes the sources and estimating techniques used to deflate the remaining components of exports and imports, highlighting the limitations
stemming from the use of unit value
indexes for end-use categories in the
deflation of merchandise trade and
summarizing the variety of price data
used in the deflation of services.
The Terms of Trade and Deflation of Net Exports
THE Nation's production, as measured
in the NIPA's, consists of domestic use
of product, (personal consumption expenditures, private domestic investment, and government purchases of
goods and services) plus net exports
of goods and services (exports minus
imports).1 To obtain the constantdollar value of net exports, BEA deflates the current-dollar value of exports by export prices and the currentdollar value of imports by import
prices. Net exports in constant dollars
are then calculated by subtracting deflated imports from deflated exports.
By this procedure, changes in the prices
of exports and imports do not directly
affect the measure of real production.
Thus, the value of production in constant dollars is not altered directly by
a change in the terms of trade, which
is the ratio of the prices of exports of
goods and services to the prices of imports of goods and services.2 (It may,
of course, be affected by the indirect
economic effects of such changes.)
1. Private domestic investment is measured gross
of depreciation in GNP and net of depreciation in
N N P ; other components, including exports and
imports, are identical in the two series. NI, like
NNP, measures net output, but NI values each
product at the factor cost of producing it, whereas
NNP (like GNP) values products at their market
price. Consequently, the two series value exports
and imports, like other output components, differently. The method of measuring NI is such that
factor cost values for most product components,
including exports and imports, are not calculated
separately.
Although a rise in the price of imports relative to the price of exports
does not directly change real production, it does reduce the quantity of foreign goods and services the country can
purchase with the proceeds from any
given quantity of exports.3 This effect
is taken into account in "series that may
be called "command over goods and
services resulting from current production." 4 A "command" counterpart to
each of the BEA production measures
2. In this article "terms of trade" refers to the
terms of trade on goods and services. If Px(t) is
an index of the prices of a country's exports of
goods and services, including factor incomes, during a specified period, t, and Pm(t) is an index of
the prices of a country's imports of goods and services, including factor incomes, the terms of trade
on goods and services may be expressed as
Tc(t)=100 [Px(t)/Pm(t)]. Kemp distinguishes
six concepts of the terms of trade, of which this
is the second ; he calls it the "terms of trade on
current account." (International Encyclopedia of
the Social Sciences, 1968 ed., s.v. "International
Trade : Terms of Trade," by M. C. Kemp.)
3. With given real production, the country must
curtail either domestic use of product or net foreign
investment (or transfers to abroad). In current
prices, exports are equal to the sum of imports,
net foreign investment, net transfer payments to
foreigners, interest paid by government to foreigners, and capital grants paid by the United
States (net).
4. The author has previously used this term
to describe such series in Why Growth Rates
Differ: Postwar Experience in Nine Western
Countries (Washington, D.C. : The Brookings Institution, 1967, p. 30) and Accounting for Slower
Economic Growth: The United States in the
1970s (Washington, D.C. : The Brookings Institution, 1979, pp. 11-12). The term is admittedly
clumsy and will usually be shortened in this article to "command over goods and services" or
"command." For a discussion of other terminology,
see "Production, Command, and Terminology Relating to Them" in the appendix.
17
May 1981
SUKVEY OF CURRENT BUSINESS
18
in constant dollars can be obtained by
changing the procedure for deflating
net exports. Instead of subtracting deflated imports from deflated exports,
net exports in current dollars are divided by an appropriate price index. As
explained later, an import price index
is used for the series introduced in this
article, but results would differ little if
an export price index or a general index
of prices were substituted. (Deflation of
net exports by import prices is equivalent to two other procedures that are
sometimes advocated.5 For a review of
the literature, see "Deflators for Deriving Command Series" in the appendix.)
When net exports are zero in current
dollars, they are, of course, also zero in
constant dollars by this alternative procedure regardless of the price index
used, whereas they may take a large
positive or negative value by the procedure used in measuring real production.
CHART 2
Terms of Trade on Goods and Services, 1929-80
Index, 1972
130
120-
80-
70
1930
Arithmetic example
has risen to $4 a barrel. The country
continues to import 30 barrels of oil,
but must now pay $120 for them. To
earn this amount, it now exports 40
bushels of wheat, which is still valued
at $3 a bushel, for $120. The country
still produces 100 bushels of wheat, so
it has only 60 bushels left for its own
consumption.
GNP in current dollars remains $300
in the second year, consisting of 100
bushels of wheat production valued at
$3 a bushel. Statistically, GNP of $300
is the sum of domestic consumption of
$180 of wheat (60 bushels at $3) and
$120 of oil (30 barrels at $4) plus net
exports of zero (exports of $120 less
imports of $120).
BEA procedures would also show
GNP unchanged at $300 in constant
dollars of the first year. The rationale
for the finding of no change in production is obvious: Production in both
years consists of 100 bushels of wheat.
Statistically, second-year GNP of $300
in constant (first year) dollars is obtained as the sum of domestic consumption of $180 of wheat (60 bushels at $3)
and $60 of oil (30 barrels at $2) plus
net exports of $60. Net exports are the
difference between exports of $120 (40
bushels of wheat at $3 a bushel) and
70
75
80
U.S. Department of Commerce, Bureau of Economic Analysis
A simplified example in which GNP,
NNP, and NI are the same will clarify
the difference between production and
command. In the first year, a country
produces 100 bushels of wheat valued
at $3 a bushel. It consumes 80 bushels
worth $240 and exports 20 bushels
worth $60. It also consumes 30 barrels
of oil, which it imports at $2 a barrel
for $60. GNP is $300, consisting of 100
bushels of wheat production valued at
$3 a bushel. Statistically, GNP of $300
is obtained as the sum of domestic consumption of wheat ($240) and oil ($60)
plus net exports of zero (exports of $60
less imports of $60).
In the second year, the price of oil
65
5. One° of these procedures is to obtain real net
exports by deducting imports deflated by import
prices from exports also deflated by import prices.
The other is to multiply BEA's real exports by a
percentage equal to the index of the terms of trade
and deduct BEA's real imports. The three equivalent
procedures for obtaining net exports in constant
dollars may be expressed as
Vx-Vm
Pm :
(1)
(2)
(3)
Vx
Vm
/Vx Px\
\Px*Pm/
vm
Pm
when P and V stand for price and value, and x and
m for exports and imports.
imports of $60 (30 barrels of oil at $2
a barrel).
The country, nevertheless, is worse
off in the second year than in the first.
It consumes less wheat and only the
same amount of oil, and in neither year
did transactions on current account
yield future claims against foreign
countries or foreign claims against this
country. The series for command over
goods and services recognize this deterioration. In these series, the value of
net exports in constant dollars in the
second year is obtained by dividing
current-dollar net exports by a price
index. Net exports in current dollars
are zero, so net exports in constant dollars necessarily are also zero, regardless
of the price index used. Command over
goods and services valued in dollars of
the first year is therefore $240, obtained
as domestic consumption of $180 of
wheat (60 bushels at $3) and $60 of oil
(30 barrels at $2) plus net exports of
zero.
The divergence between GNP, which
is unchanged, and its counterpart series
for command, which fell 20 percent, is
due to a drop in the index of the terms
of trade; the index fell 50 percent, as
the export price index was unchanged
while the import price index doubled.
May 1981
Uses of production and command
series
The events in the arithmetic example
can be described by stating that the
country's production (GNP, NNP, or
NI) has not changed, but that its command over goods and services resulting
from production has declined as a result
of deterioration in the terms of trade.
This description suggests that two sets
of measures are needed. One set is the
present BEA series for GNP, NNP,
and NI, which are obtained by separate
deflation of exports and imports, and
the other set is the counterpart series,
which are obtained by deflating net exports. The command counterparts to
the present series are introduced in this
article. (For a review of literature, see
"Production, Command, and Terminology Relating to Them" in the
appendix.)
The need for two sets of series can be
brought out by illustrating their distinctive uses. Four illustrations will be
provided. The first two refer in rather
general terms to the production and
command series themselves, and the
second two refer to the price indexes
for production and command.
1. For analysis of productivity, the
production measures, not their command counterparts, are appropriate. In
the example, all of the country's production consisted of wheat, and wheat
production did not change. Suppose
that labor and other inputs into wheat
production also were unchanged. In such
a case it is natural and convenient to say
that productivity does not change. The
decline in command is to be ascribed
to worsened terms of trade.6
6. The difference between productivity changes
occurring in production of the goods and services
a country imports and productivity changes in production of goods and services it exports is among
the influences governing long-term changes in the
terms of trade. Solomon Fabricant ("Notes on {he
Deflation of National Accounts," in Studies in Social and Financial Accounting, Income and Wealth,
ser. 9, ed. Phyllis Deane, International Association
for Research in Income and Wealth. London : Bowes
and Bowes, 1961, p. 52) states that, other things
constant, we may expect that the bigger a country's productivity increase the smaller will be the
gain from changes in the terms of trade. "Other
things" must include productivity change abroad.
Consequently, to analyze reasons for changes in
the terms of trade, it becomes necessary to analyze
reasons for international and interproduct differences in productivity change. If "command" were
substituted for production in the productivity cal
SURVEY OF CURRENT BUSINESS
2. The measures of command over
goods and services are appropriate when
the change in a particular use of goods
and services is to be compared, in real
terms, with the change in the total
amount of goods and services available
to a country for its use. For example,
if one is appraising changes in the burden of defense purchases, in real terms,
it is appropriate to compare defense
purchases with command rather than
with production. (It should be noted,
however, that current-dollar measures
are often appropriate for comparisons
of a change in a particular use with a
change in a total, and that, in current
dollars, production and command are
the same.)
3. In their simplest and most general form, the wage-price guideposts as
formulated in the early 1960rs stated
that, given a stable labor share in GNP,
price stability will be attained if compensation per hour rises at the same
rate as real GNP per hour worked. The
promise of the guideposts was that if
everyone behaved in accord with them,
price stability—in terms of GNP
prices—would be attained without
hurting anyone in real terms.7 However, even if everyone had behaved this
way, prices paid by domestic purchasers, as measured by the price index for
command over goods and services,
would have risen 3.4 percent since 1969,
because the terms of trade deteriorated.
It surely is these prices that people have
in mind when they think of price stability. Assuming an unchanged labor
culation, the terms of trade would affect U.S. productivity and the sources of productivity change
abroad would become part of domestic productivity
analysis, which is very inconvenient. (Denison, Why
Growth Rates Differ, pp. 30-31.)
In theory, use of the "double factoral terms of
trade" would eliminate this particular problem. It
is the product of the ordinary terms of trade index
and the ratio of an index of productivity in production of exports to productivity in production of
imports. But these productivity indexes do not
exist.
7. The guideposts up to 1968 are discussed in
Edward F. Denison, Guideposts for Wages and
Prices: Criteria and Consistency, W. S. Woytinsky
Lecture no. 2. Department of Economics, Institute
of Public Policy Studies (Ann Arbor, The University of Michigan, 1968), and in works by John
Sheahan, Robert Solow, and others that are cited
there. The guidepost relationship holds equally
well for any target rate of price change if the difference between the target rate of change in prices
and that in compensation per hour equals the rate
of change in output per hour.
19
share of GNP, hourly labor compensation could have risen only as much as
command per hour worked if stability
in prices paid by domestic purchasers
were to be attained.
4. Because income tax laws usually
provide a fixed dollar amount of personal exemptions and a progressive rate
structure, inflation raises income tax
revenues by a percentage that exceeds
the increase in money income that it
creates. As a consequence, the greater
the rise in money income created by
inflation since the tax structure was established, the higher is the ratio of government revenue from income taxes to
current-dollar national income or product. Unless exemptions, brackets, or
rates are changed, inflation automatically increases the government share of
the national income at the expense of the
shares of the taxpayers. To prevent
such an increase, some countries and
several States in the United States have
indexed their income tax systems.
If the objective is to make the government share of the national income
invariant to inflation, the most appropriate price index for use in indexation
of income taxes is the implicit deflator
for national income. The corresponding
price index for command over goods
and services is inappropriate (as is an
index for consumption).8 The inappropriateness of the latter is brought out
by the following example. If import
prices rise, the money income of residents (consumers and other domestic
buyers of final products) is unchanged,
but the prices they pay rise to cover the
higher import costs. The NI deflator is
unchanged but that for command rises.
With money income unchanged, indexing by use of the deflator for command
would push taxpayers into lower brackets and cause their income tax liability
to decline absolutely and as a share of
national income.
Comparison of production and
command
GNP in constant dollars, its counterpart command series, and the ratio of
8. Edward F. Denison, "Price Series for Indexing
the Income Tax System," in Inflation and the Income Tax, ed. Henry J. Aaron (Washington, D.C. :
The Brookings Institution, 1976), pp. 258-59.
SUEVEY OF CURRENT BUSINESS
20
command to GNP are shown in columns 5 to 7 of table 1. Similar series for
NT and its counterpart command series
are shown in columns 18 to 20.9 The
9. To conserve space, series for NNP are not
shown in table 1. The ratios of command to production on an NNP basis are the same as those shown
command series rise or fall relative to
in column 20 for NI. The NI ratios were actually
computed on an NNP basis. Specifically, in the
absence of separate factor cost values for exports
and imports, the command counterpart to NI was
computed on the assumption that the ratio of command to production was the same for NI as for
NNP.
May 1981
their production counterparts if the
terms of trade improve or worsen.
1969 to 1980.—The terms of trade
have been moving against the United
States since 1969 (chart 2). Computed
with 1972 = 100, the index of the terms
Table 1.—Gross National Product, National Income, Command Over Goods and Services, Terms of Trade, and
[Values in billions of dollars. Implicit deflators are indexes with 1972=100. Quarterly estimates are seasonally adjusted at annual
Series on gross national product (GNP) basis
Line
Series in current prices
Year and
quarter
Implicit price deflators
Series in constant (1972) prices
Net exports
GNP
Exports
Imports
Net
exports
GNP
Command
Ratio of
col. 6 to
col. 51
Exports
Imports
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
In GNP
In command
(10)
(11)
Terms
of trade »
GNP
Command
Exports
Imports
(12)
(13)
(14)
(15)
(16)
1
2
3
4
5
6
7
8
9
10
1929
1930
1931.
1932
1933
1934..
1935
1936
1937
1938
103.4
90.7
76.1
58.3
55.8
65.3
72.5
82.7
90.9
85.0
7.0
5.4
3.6
2.5
2.4
3.0
3.3
3.5
4.7
4.4
5.9
4.4
3.1
2.1
2.0
2.4
3.1
3.4
4.3
3.0
1.1
1.0
.5
.4
.4
.6
.1
.1
.4
1.3
315.7
285.6
263.5
227.1
222.1
239.1
260.0
295.5
310.2
296.7
314.5
285.5
263.4
227.7
223.3
240.5
261.7
296.7
310.8
297.9
0. 9962
.9996
.9998
1.0027
1.0050
1.0058
1.0066
1.0039
1.0018
1.0043
16.7
14.2
11.7
9.3
9.3
9.7
10.5
11.2
14.0
13.5
12.9
11.4
10.0
8.3
8.6
8.9
11.8
11.9
13.2
10.3
3.7
2.8
1.7
1.0
.4
.9
-1.2
-.7
.8
3.2
2.5
2.7
1.7
1.6
1.5
2.3
.5
.4
1.4
4.5
32.76
31.75
28.87
25.67
25.13
27.30
27.88
28.00
29.30
28.66
32.9
31.8
28.9
25.6
25.0
27.1
27.7
27.9
29.2
28.5
42.2
38.5
31.0
26.6
26.5
30.5
31.0
31.6
33.5
32.5
45.5
38.7
31.2
25.0
23.6
26.7
26.7
28.7
32.2
29.7
92.7
99.5
99.4
106.4
112.3
114.2
116.1
110.1
104.0
109.4
11
12
13
14
15
16
17
18
19
20
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
90.9
100.0
125.0
158.5
192.1
210.6
212.4
209.8
233.1
259.5
4.6
5-4
6.1
5.0
4.6
5.5
7.4
15.1
20.2
17.5
3.4
3.6
4.7
4.8
6.5
7.2
7.9
7.3
8.3
10.5
1.2
1.8
1.5
.2
-1.9
-1.7
-.5
7.8
11.9
6.9
319.8
344.1
400.4
461.7
531.6
569.1
560.4
478.3
470.3
489.8
320.3
345.1
401.3
462.7
532.9
571.4
563.0
480.2
470.6
489.3
1.0016
1.0029
1.0022
1.0022
1.0025
1.0040
1.0048
1.0040
1.0005
.9989
14.3
15.5
16.4
11.4
9.8
10.5
13.8
27.3
32.2
26.3
10.9
11.1
13.2
12.0
15.7
16.8
17.5
14.0
13.3
15.5
3.4
4.4
3.2
-.6
-5.9
-6.2
-3.7
13.2
18.9
10.8
3.9
5.4
4.1
.4
-4.6
-4.0
-1.1
15.1
19.1
10.2
28.43
29.06
31.23
34.32
36.14
37.01
37.91
43.88
49.55
52.98
28.4
29.0
31.2
34.2
36.1
36.9
37.7
43.7
49.5
53.0
32.1
34.9
37.3
43.6
46.8
51.9
53.6
55.4
62.8
66.5
31.0
32.8
35.4
40.0
41.3
42.7
44.9
51.8
62.3
67.8
103.5
106.4
105.4
109.0
113.3
121.5
119.4
106.9
100.8
98.1
21
22
23
24
25
26
27
28
29
30
1949
1950..
1951
1952
1953
1954
1955
1956
1957
1958
258.3
286.5
330.8
348.0
366.8
366.8
400.0
421.7
444.0
449.7
16.3
14.4
19.7
19.1
18.0
18.7
21.0
25.0
28.1
24.2
9.8
12.2
15.3
15.9
16.7
16.2
18.0
19.8
20.8
21.0
6.5
2.2
4.4
3.2
1.3
2.5
3.0
5.3
7.3
3.3
492.2
534.8
579.4
600.8
623.6
616.1
657.5
671.6
683.3
680.9
491.6
532.1
574.6
596.8
620.4
612.4
654.1
668.2
681.1
679.6
.9988
.9950
.9917
.9934
.9949
.9941
.9948
.9950
.9961
.9981
25.8
23.6
28.6
27.9
26.6
27.8
30.7
35.3
38.0
33.2
15.2
17.7
18.5
20.0
21.8
20.9
23.4
25.2
26.1
27.6
10.7
5.9
10.1
7.9
4.8
6.9
7.3
10.1
11.8
5.6
10.1
3.2
5.4
4.0
1.6
3.3
3.9
6.7
9.1
4.3
52.49
53.56
57.09
57.92
58.82
59.55
60.84
62.79
64.93
66.04
52.5
53.8
57.6
58.3
59.1
59.9
61.2
63.1
65.2
66.2
63.1
61.0
68.8
68.6
67.5
67.2
68.5
71.0
74.0
73.1
64.6
68.8
82.6
79.9
76.7
77.2
77.1
78.4
79.6
76.1
97.7
88.7
83.3
85.9
88.0
87.0
88.8
90.6
93.0
96.1
31
32
33
34
35
36
37
38
39
40
1959
1960
1961 .. .
1962
1963
1964
1965
1966
1967
1968 .
487.9
506.5
524.6
565.0
596.7
637.7
691.1
756.0
799.6
873.4
24.8
28.9
29.9
31.8
34.2
38.8
41.1
44.6
47.3
52.4
23.4
23.4
23.3
25.4
26.6
28.8
32.3
38.1
41.0
48.1
1.4
5.5
6.6
6.4
7.6
10.1
8.8
6.5
6.3
4.3
721.7
737.2
756.6
800.3
832.5
876.4
929.3
984.8
1,011.4
1,058.1
720.9
736.8
760.0
801.3
833.2
876.6
930.5
986.6
1,013.9
1,061.5
.9989
.9993
1.0044
1.0013
1.0008
1.0003
1.0012
1.0018
1.0025
1.0032
33.8
38.4
39.3
41.8
44.8
50.3
51.7
54.4
56.7
61.2
31.1
30.7
30.9
34.3
35.4
37.5
41.6
47.9
51.3
59.3
2.7
7.7
8.5
7.5
9.4
12.8
10.1
6.5
5.4
1.9
1.9
7.2
8.8
8.6
10.1
13.1
11.3
8.2
7.9
5.2
67.60
68.70
69.33
70.61
71.67
72.77
74.36
76.76
79.06
82.54
66.7
68.7
69.3
70.5
71.6
72.7
74.3
76.6
78.9
82.3
73.5
75.2
76.1
76.0
76.3
77.2
79.4
81.9
83.5
85.5
75.2
76.1
75.5
74.2
75.2
76.8
77.7
79.4
79.9
81.1
97.7
98.8
100.8
102.4
101.5
100.5
102.2
103.1
104.5
105.4
41
42
43
44
45
46
47
48
49
50
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
944.0
992.7
1,077.6
1, 185. 9
1, 326. 4
1,434.2
1, 549. 2
1,718.0
1,918.0
2, 156. 1
57.5
65.7
68.8
77.5
109.6
146.2
154.9
170.9
183.3
219.8
53.3
59.0
64.7
76.7
95.4
132.8
128.1
157.1
187.5
220.4
4.2
6.7
4.1
.7
14.2
13.4
26.8
13.8
-4.2
-.6
1,087.6
1,085.6
1, 122. 4
1, 185. 9
1,255.0
1, 248. 0
1,233.9
1,300.4
1, 371. 7
1,436.9
1,091.7
1,089.2
1, 125. 2
1, 185. 9
1,251.6
1,228.4
1,216.6
1, 282. 4
1, 347. 7
1,412.1
1.0038
1.0033
1.0025
1.0000
.9973
.9842
.9860
.9862
.9825
.9827
65.0
70.5
71.0
77.5
97.3
108.5
103,6
110.1
113.2
127.5
64.1
66.6
69.3
76.7
81.8
80.7
71.4
84.7
91.3
103.0
.9
3.9
1.6
.7
15.5
27.8
32.2
25.4
21.9
24.6
5.0
7.5
4.4
.7
12.2
8.1
14.9
7.4
-2.1
-.3
86.79
91.45
96.01
100.00
105. 69
114.92
125.56
132. 11
139.83
150. 05
86.5
91.1
95.8
100.0
106.0
116.8
127.3
134.0
142.3
152.7
88.5
93.2
97.0
100.0
112.7
134.7
149.6
155.2
161.9
172.4
83.2
88.6
93.3
100.0
116.7
164.6
179.5
185.5
205.4
214.0
106.4
105.2
104.0
100.0
96.6
81.8
83.3
83.7
78.8
80.6
51
52
1979
1980
2,413.9
2, 626. 1
281.3
339.8
267.9
316.5
13.4
23.3
1,483.0
1,480.7
1,450.8
1,436.7
.9782
.9703
146.9
161.1
109.2
109.1
37.7
52.0
5.5
8.0
162. 77
177. 36
166.4
182.8
191.5
211.0
245.4
290.1
78.0
72.7
53
54
55
56
57
58
59
60
1977: I....
II...
III..
IV..
1978: I...
II..
III.
IV..
1, 839. 1
1, 893. 9
1, 950. 4
1,988.6
2,032.4
2, 129. 6
2, 190. 5
2, 271. 9
178.3
185.4
187.5
181.9
195.9
214.8
225.3
243.5
180.5
187.4
187.7
194.4
208.2
218.1
223.3
232.0
-2.2
-2.0
-.2
-12.4
-12.3
-3.3
1.9
11.4
1, 345. 9
1, 363. 4
1,385.8
1,391.5
1,402.3
1, 432. 8
1,446.7
1,465.8
1,322.5
1, 340. 0
1, 360. 7
1, 367. 6
1, 377. 7
1,408.2
1, 421. 5
1, 440. 5
.9826
.9829
.9819
.9828
.9825
.9829
.9826
9828
111.3
114.1
115.6
111.7
118.3
125.4
129.8
136.6
89.0
91.7
90.5
93.8
99.5
102.4
103.7
106.2
22.3
22.4
25.0
17.9
18.7
23.0
26.1
30.5
-1.1
-1.0
-.1
-6.0
-5.9
-1.6
.9
.5.2
136.64
138.91
140.75
142. 91
144.93
148.63
151.42
154. 99
139.1
141.3
143.3
145.4
147.5
151.2
154.1
157.7
160.2
162.5
162.2
162.8
165.6
171.3
173.5
178.2
202.7
204.4
207.3
207.2
209.1
212.9
215.3
218.5
79.0
79.5
78.2
78.6
79.2
80.5
80.6
81.6
61
62
63
64
65
66
67
68
69
1979: I...
II..
III.
IV..
1980: I...
II..
III.
IV.
1981: I..
2,340.6
2,374.6
2,444.1
2, 496. 3
2, 571. 7
2, 564. 8
2, 637. 3
2,730.6
2, 853. 8
259.1
266.8
293.1
306.3
337.3
333.3
342.4
346.1
376.8
239.2
258.6
275.2
298.7
329.1
316.2
297.9
322.7
339.8
19.9
8.2
17.9
7.6
8.2
17.1
44.5
23.3
37.0
1,479.9
1,473.4
1,488.2
1,490.6
1,501.9
1, 463. 3
1,471.9
1,485.6
1,516.0
1, 452. 6
1, 445. 3
1,454.3
1,451.3
1,454.7
1,417.5
1,429.7
1,445.0
1,474.4
.9816
.9809
.9772
.9736
.9686
.9687
.9713
.9727
.9726
141.1
140.5
151.3
154.8
165.9
160.5
160.5
157.4
166.8
105.1
108.8
110.2
112.6
115.8
108.9
102.8
108.9
112.9
36.0
31.6
41.1
42.2
50.1
51.7
57.6
48.5
53.9
8.7
3.5
7.2
2.9
2.9
5.9
15.4
7.9
12.3
158. 16
161. 17
164.23
167. 47
171. 23
175. 28
179. 18
183.81
188.25
161.1
164.3
168.1
172.0
176.8
180.9
184.5
189.0
193.6
183.7
189.9
193.7
197.9
203.4
207.6
213.4
219.9
226.0
227.7
237.6
249.8
265.2
284.2
290.4
289.7
296.4
301.0
80.7
79.9
77.5
74.6
71.6
71.5
73.7
74.2
75.1
.
1. Column 7 is also the ratio of column 12 to column 13.
2. Ratio of column 14 to column 15.
3. Column 20 is also the ratio of command on an NNP basis to NNP, and of column 22 to column 21.
SUKVEY OF CURRENT BUSINESS
May 1981
of trade (table 1, column 16) fell 33.7
percentage points from 1969 to I960.10
Almost three-tenths of this amount had
been lost by 1973.11 Well over fourtenths was lost in the year 1974, a result
of the first large petroleum price inRelated Series, 1929-80
rates.]
Series on national income (NI) basis
Series
in
current
prices:
NI
(17)
Series in constant prices Implicit deflators
Line
NI
Command
Ratio of
col. 19
to
col. 183
NI
Command
(21)
(22)
(18)
(19)
(20)
58.7
42.4
39.9
48.6
56.4
64.2
72.4
66.0
255.1
230.9
206.1
173.4
168.5
183.6
205. 4
233.7
250.4
235.7
254.0
230.8
206.0
173.9
169.5
184.9
207.0
234.7
250.9
236.8
0. 9958
.9996
.9997
1. 0032
1.0058
.0068
.0075
.0043
.0020
.0049
23.2
32.0
28.5
24.5
23.7
26.5
27.5
27.5
28.9
28.0
33.4
32.0
28.5
24.4
23.5
26.3
27.3
27.4
28.9
27.9
8
9
10
71.4
79.7
102.7
135.9
169.3
182.1
180.7
178.6
194.9
219.9
255.6
278.2
332.2
395.7
466.8
493.6
480.6
402.1
389.7
410.9
256.0
279.0
333.0
396.6
468.1
495.7
483.0
403.9
389.9
410.4
.0018
.0082
.0024
.0024
.0026
.0043
.0050
.0043
1.0006
.9988
27.9
28.7
30.9
34.3
36.3
36.9
37.6
44.4
50.0
53.5
27.9
28.6
30.8
34.3
36.2
36.7
37.4
44.2
50.0
53.6
11
12
13
14
15
16
17
18
19
20
213.6
237. 6
274.1
287.9
302.1
301.1
330.5
349.4
365.2
366.9
406.8
442.2
479.5
499.1
516.7
506. 6
543.3
558.0
565.2
558.3
406. 2
439.8
475.2
495.6
513.9
503.4
540.2
554.9
562.8
557.2
.9987
. 9945
.9910
.9929
. 9945
.9936
.9943
.9945
.9957
.9979
52. 5
53. 7
57.2
57.7
58.5
59.4
60.8
62.6
64.6
65. 7
52.6
54.0
57.7
58.1
58.8
59.8
61.2
63.0
64.9
65.8
21
22
23
24
25
26
27
28
29
30
400.8
415.7
428.8
462.0
488.5
524.9
572. 4
628.1
662.2
722.5
596. 2
609.7
6215
657. 4
684. 9
724.2
770.9
816.0
836.4
877.4
595. 5
609.2
622.8
658. 3
685.5
724.4
771.9
817.6
838.7
880.4
.9988
.9993
1.0005
1.0014
1.0009
1.0003
1.0014
1.0019
1.0027
1.0034
67.2
68.2
68.9
70.3
71.3
72.5
74.3
77.0
79.2
82.3
67.3
68.2
68.9
70.2
71.3
72.5
74.2
76.8
79.0
82.1
31
32
33
34
35
36
37
38
39
40
779.3
810.7
871.5
963.6
1, 086. 2
1, 160. 7
1, 239. 4
1, 379. 2
1, 546. 5
1, 745. 4
899.5
888.8
911.8
963.7
1,024.2
1,009.9
988.9
1,045.2
1, 104. 9
1, 158. 3
903.2
892.1
914.3
963. 7
1,021.2
992.3
973. 5
1, 029. 1
1,083.5
1, 136. 2
1.0041
1.0036
1.0027
1.0000
.9971
.9826
.9845
.9847
.9807
.9809
86.6
91.2
95.6
100.0
106.1
114.9
125.3
132.0
140.0
150.7
86.3
90.9
95.3
100.0
106.4
117.0
127.3
134.0
142.7
153.6
41
42
43
44
45
46
47
48
49
50
1,963.3 1, 196. 5 1, 167. 7
2, 121. 4 1, 184. 6 1, 145. 5
. 9759
.9670
164.1
179.1
168.1
185.2
51
52
, 473. 8 1, 079. 2 1,058.5
, 523. 8 1, 096. 8 1,076.0
, 576. 0 , 118. 3 1,095.9
,612.4 , 125. 0 1, 103. 7
, 644. 6 , 133. 2 1,111.3
, 720. 7 , 154. 5 1, 132. 7
,771.7 ,163.9 1, 141. 5
,844.6 , 181. 5 1, 159. 0
.9808
.9810
.9800
.9810
.9806
.9811
.9808
.9810
136. 6
138.9
140.9
143.3
145. 1
149.0
152.2
156.1
139.2
141.6
143.8
146.1
148.0
151.9
155. 2
159.1
53
54
55
56
57
58
59
60
.9797
.9789
.9748
.9708
.9652
.9652
.9681
.9696
.9695
159.3
162.3
165.6
169.1
173.1
176.8
180.9
185.6
189.4
162.6
165.8
169.9
174.2
179.3
183.2
186. 9
191.4
195.3
61
62
63
64
65
66
67
68
69
84.8
73.8
,903.6
,932.0
1,986.2
2, 031. 3
2, 088. 5
2,070.0
2, 122. 4
2, 204. 8
2, 289. 3
, 195. 0
, 190. 3
,199.5
, 201. 2
,206.9
, 170. 6
, 173. 1
, 187. 8
,208.8
1, 170. 7
1, 165. 2
1, 169. 2
1, 166. 1
1, 164. 9
1, 129. 9
1 , 135. 7
1, 151. 7
1,171.9
1
2
3
4
5
6
7
crease. Nearly all of the remainder—
almost one-fourth of the 11-year loss—
occurred in 1979 and 1980, when petroleum prices were again rising sharply.
Since 1972, the prices of both exports
and imports of goods and services have
risen more than the price of GNP (columns 12, 14, and 15). In 1980, the export deflator stood at 211, the import
deflator at 290, and the GNP deflator
at 177. Prices of almost all major components of both exports and imports
had risen substantially more than the
GNP deflator; the only exceptions were
exports of nondurable consumer goods
and nonfactor services, and factor incomes received and paid.12 If the GNP
deflator is used as a standard, therefore,
prices in almost all import groups had
contributed to deterioration in the
terms of trade and prices in almost all
export groups had helped to limit the
deterioration.
Based on direct comparison of export
and import prices, two-thirds of a 27percent deterioration in the terms of
trade from 1972 to 1980 resulted from
the price of petroleum imports rising
more than that of other imports. The
1980 deflator for imports of petroleum
and products (1972=100) was 1,154
and that for imports of all other goods
and services 232 (table 2, columns 3 and
4). If prices of petroleum imports had
increased by the same percentage as
those of all other imports, the terms of
trade would have worsened only onethird as much after 1972 as was actually
the case (columns 5 and 6).
The deterioration in the terms of
trade from 1969 to 1972, unlike that in
the later period, cannot be ascribed to
10. Factor incomes, as explained in the next part
of this article, are deflated by the net domestic
product deflator and one might choose to exclude
them from the terms of trade calculations. This
would change the 1980 index, shown as 72.7, to
72.3, and the index exclusive of petroleum imports,
shown in table 2 as 90.9, to 92.4. These differences
are too small to affect the interpretation of changes.
11. The OPEC embargo affected petroleum prices
in the last quarter of 1973 but had little effect on
the 1973 annual index of the terms of trade. The
annual index would have been 96.4 instead of 96.2
if the index had been the same in the fourth quarter as in the third.
12. This statement is based on the classifications
of commodity exports and imports by end-use categories, for which deflators are shown in NIPA table
7.17 in this issue, and the factor income and other
services components of exports and imports of
services, for which deflators are shown in NIPA
table 7.16.
21
petroleum. In 1969-72, the price of petroleum increased a little less than the
price of other imports and not much
more than the price of exports.
Because of the deterioration in the
terms of trade, the ratio of command to
production has fallen (chart 3). In
other words, command has increased
less than production. Annual rates of
growth from 1969 to 1980 were 2.84 percent for GNP in constant dollars and
2.53 percent for the corresponding command series, a difference of 0.31 percentage points. (Over shorter periods
differences were often much larger. For
example, command grew 1.4 percentage
points less than production from the
third quarter of 1973 to the third
quarter of 1974, and again from the
first quarter of 1979 to the first quarter
of 1980. Even bigger differences appeared in individual quarters.) Differences between the growth rates of NI
and its command counterpart are a
little larger than those between GNP
and its command counterpart. Thus,
from 1969 to 1980, the growth rate of
NI was 2.53 percent and that of its command counterpart 2.18 percent, a difference of 0.35 points.
From the first quarter of 1979 to the
first quarter of 1980, it may be observed,
real NI in 1972 dollars, seasonally adjusted at annual rates, rose $12 billion
whereas the corresponding series for
command fell $6 billion. Real GNP rose
$22 billion but its command counterpart rose only $2 billion in this period.
1929 to 1969.—From 1929 to 1969,
international trade was small relative
to the Nation's production and in the
postwar portion of that timespan the
terms of trade fluctuated less than they
have more recently. As a result, differences between measures of command
alad of production were generally small.
The terms of trade were more favorable
in most of the 1930's and 1940's, and
less favorable in the 1950's, than they
were in the 1960's, but over these 41
years the ratio of command to production on a GNP basis varied only from
0.9917 in 1951 to 1.0066 in 1935, a range
of 1.5 percent, and in 1947-69 the range
was only 1.3 percent. On a NI basis, the
range was 1.7 percent in 1929-69 and
1.3 percent in 1947-69. The 1929-69
SURVEY OF CURRENT BUSINESS
22
CHART 3
May 1981
Table 2.—Implicit Price Deflators and the
Terms of Trade, 1967-80
Ratio of Command to Production, GNP Basis, 1929-80
[Indexes, 1972=100]
Implicit price deflators
Terms of trade
Imports
Year
Total
exports
Total
Petro- Exleum cludand
ing
prod- petroucts leum
(3)
(1)
1967
1968....
1969....
1970
1971
1972
1973....
.97 —
.96
1930
35
40
80
45
(2)
83.5
85.5
88.5
93.2
97.0
100.0
112.7
79.9
81.1
83.2
88.6
93.3
100.0
116.7
86.5
85.8
88.0
95.9
100.0
127.7
1974
1975
1976
1977
1978
1979
1980
134.7
149.6
155.2
161.9
172.4
191.5
211.0
164.6
179.5
185.5
433.4
459.9
205.4
245.4
214.0
Excluding
Total petroleum
imports
(4)
(5)
87.1
79.5
80.8
83.1
88.7
93.2
100.0
115.7
105.4
106.4
105.2
104.0
100.0
96.6
104.5
105.0
105.8
106.5
105.1
104.1
100.0
97.4
419.7
142.8
155.2
158.8
173.3
188.5
81.8
83.3
83.7
78.8
80.6
78.0
72.7
94.3
96.4
97.7
93.4
91.5
92.7
90.9
497.1
498.1
702.0
290.1 1, 153. 8
206.6
232.2
(6)
Note.—Based on constant (1972) dollars.
U.S.
Department of Commerce, Bureau of Economic Analysis
growth rates of command exceed those
of production by 0.02 percentage
points. The rates are 3.15 and 3.13 percent, respectively, on a GNP basis and
3.21 and 3.19 percent, respectively, on
a NI basis. (These rates are adjusted to
eliminate the effect of adding Alaska
and Hawaii to the series in 1960.)
The Net Inflow of Factor Income from Abroad
NATIONAL income and product are
measured by adding to the value of
domestic product (i.e., the value of production attributable to factors of production located in a country) the excess
of factor income received from abroad
over factor income paid to abroad. The
appropriate scope of factor income received and paid depends upon which of
two concepts of national income and
product is adopted. In Peggy B. Musgrave's terminology, these are the "factor nationality concept," according to
which world production is allocated
among countries in accordance with the
residence of the suppliers of the factors
of production, and the "national gain
concept," in which world production is allocated in accordance with the
benefit countries gain from it.13 To conis. Peggy B. Musgrave, "Foreign Investment in
the National Income Accounts," Review of Economics and Statistics 59 (May 1977) : 220-24. The
"national location of production concept" that Musgrave also describes is what BEA measures as
domestic product. Musgrave also mentions a "national enterprise concept," which seems unattractive for general use.
form to the latter concept, taxes must
be allocated to the country collecting
the taxes, usually that in which the factors are located. The following pages
describe these concepts and discuss their
implications for procedures for the deflation of international flows of facfor
income. They also explain the changes
made in the recent comprehensive revisions of the NIPA's—the addition of
reinvested earnings of incorporated
foreign affiliates and the use of the deflator for net domestic product to deflate international factor income
It is sometimes suggested that concepts of national production be abandoned entirely and the
field be left to concepts of domestic production.
Among other reasons, this suggestion is unsatisfactory because domestic production is inconsistent
with the criterion that, insofar as practicable, production should be something that it is desirable to
maximize when real costs and a variety of other
conditions are held constant. If U.S. residents invest abroad at a higher return than they formerly
received in the United States, their income is raised.
NI should and will rise by the difference between
the returns. Domestic income, however, will fall
by the whole amount formerly earned in the United
States because the new earnings from abroad are
not counted.
flows—and compare the results of the
previous and present procedures.
The factor nationality concept
According to the factor nationality
concept, world production of goods and
services is allocated among countries in
accordance with the residence of the
suppliers of the factors of production
that produced the goods and services.
Given unlimited data concerning production, prices, income shares, and residence of property owners and workers,
this might be done as follows. To obtain
NI in current dollars, the amount that
each enterprise in each country adds to
the net value of production at factor
cost would be divided between property
and labor earnings. Property earnings
would then be distributed among countries in proportion to the value of the
enterprise's property that is owned by
residents of each country, and labor
earnings according to the residence of
the workers to whom earnings accrue.
To obtain NI estimates in constant
dollars, the current-dollar estimate of
the net value of production at factor
cost for each enterprise in each country
would be deflated by the customary
double-deflation procedure. (According
to this procedure, constant-dollar net
value of production at factor cost is obtained by deducting the constant-dollar
value of intermediate products purchased from the constant-dollar value
May 1981
of the goods and services produced.)
The constant-dollar net value of production of each enterprise in each country would then be allocated among countries in the same proportions as the
value that is added in current dollars,
because there is no reason for the distributions to differ.
Use of this statistical procedure
would imply that within each enterprise the earnings of labor and property are proportional to their marginal
products or, if they are not, that the
effects of deviations in individual
enterprises upon the distribution among
countries are offsetting. This is a dubious assumption in some circumstances, but none more suitable for general application is available.
The statistical procedure just described is impractical. The currentdollar result can, however, be obtained
by adding to the domestic product of
each country the excess of the value
added by its factors of production that
are abroad over the value added by foreign factors that are located in it. The
addition is equal to the inflow of income
from abroad minus the outflow to
abroad. The trouble with this solution
is that it prevents deflation in detail
and thus impairs the constant-dollar
series.
To obtain a constant-dollar series, the
best expedient is to divide both factor
income received and factor income paid
by the deflator for domestic NI or net
domestic product (or some similar
broad index of domestic prices). In the
case of the United States, international
transfers of factor income consist almost entirely of property income;
transfers of labor income are small. If
foreign investment in the United States
is widely distributed among industries
(as it is), an appropriately weighted
price index for the product ascribable
to this investment is likely to move
much like a general price index. Moreover, an appropriately weighted price
index for the product of U.S. investment abroad is likely to move like a
broad index of domestic prices if U.S.
investment abroad is widely distributed
industrially (as it is, although with certain areas of concentration), and if foreign prices converted to U.S. dollars by
SURVEY OF CURRENT BUSINESS
23
exchange rates move like U.S. prices
The national gain concept
(as they must tend to do in the long
The national gain concept proceeds
run, although not year by year and still
from the premise that only income acless quarter by quarter). This procedure has the advantage of leaving the cruing to the benefit of residents of a
implicit price deflators for the national country should be included in its naoutput measures unaffected by interna- tional income and product. According
to this concept, the allocation in actionl income flows.
The incomes included in the interna- cordance with residence is modified
tional flows should conform to the defi- with respect to taxes, which are alnition of production—GNP, NNP, or located to the country collecting the
NI—that is used. If NI is used, the taxes. Specifically, international income
international flows should correspond flows are measured net of all taxes, dito the incomes of the, factors of pro- rect as well as indirect, collected by the
duction as they are measured in NI. host country. The outflow of factor inThat is, they should be measured inclu- come to abroad is measured net of U.S.
sive of reinvested earnings of corpora- taxes paid by foreign investors in the
tions; inclusive of corporate income United States, and thus the taxes are
taxes paid to the host country, taxes part of U.S. income and product. Simiwithheld on dividends and interest sent larly, the inflow of factor income from
abroad, and other taxes on income; in- abroad is measured net of taxes imclusive of the inventory valuation and posed by the host countries, and thus
capital consumption adjustments; and the taxes are part of the income and
exclusive of capital gains and losses. product of the host countries. The inTransfer payments and interest paid ternational income flows appropriate
by governments should not be included for NNP and NI are the same, because
in the international income flows. For exclusion of all taxes is appropriate for
15
NNP, the production entering into the both series. The flow appropriate for
international flows is the same as for GNP is also the same, because on a beneNI, but it must be valued at market fit basis there would be no reason to inprices rather than at factor cost. There- clude recovery of capital, i.e., capital
fore, the international flows should in- consumption allowances, in the internaclude indirect business taxes.14 They tional flows.
With the factor nationality concept,
should exclude subsidies. For GNP,
it will be recalled, the conceptually apdepreciation may also need to be included in the international flows, but propriate deflation procedure stemmed
only if GNP is used because a measure from the fact that property income
of gross production is preferred. If flowing among countries could be
NNP is conceptually appropriate but viewed as the monetary value of real
GNP is used because there are doubts product being transferred. One way to
about the accuracy of the capital con- regard the after-tax property income
sumption estimates, the inclusion of flows appropriate for the national gain
capital consumption in international concept is to consider that they, too, are
flows may not be indicated because its values of real product, but that the
inclusion would reduce, rather than in- amount of product transferred is
crease, the statistical accuracy of the
15. Subsidies should also be treated the same—
series.
i.e., included—in the international flows used to
14. Suppose an enterprise paid wages of $80, all
to domestic labor; earned profits of $20, of which
$5 was ascribed to foreign capital because the enterprise was one-fourth foreign-owned ; and paid indirect business taxes of $40 in the form of a value
added tax. The foreign owners would be credited
with 5 percent of the $100 of value added at factor
cost, and presumably, therefore, also with 5 percent ($2) of the value added tax. If the indirect
tax is a retail sales tax, the nationality of resources
in all industries contributing to the retail value of
the product must be considered. Allocation of property taxes and subsidies raises other questions that
will not be explored.
measure NNP and NI. In practice, property income
will in any case include little subsidy if the effect
of subsidizing a product is to increase its quantity
and reduce its price rather than to raise the rate of
profit.
Musgrave does not discuss international flows of
transfer payments and government interest under
the national gain concept. These flows should not
be treated like factor income flows even though
they represent an international transfer of purchasing power. GNP, NNP, and NI should be construed as measures of national gain from current
production, which requires excluding transfer payments and government interest from the international flows.
24
smaller than under the factor nationality concept. The appropriate detailed
deflation procedure is then the same as
for the factor nationality concept. In
practice, resort to deflating total inflows
and outflows by a single deflator such
as that for domestic NI or NNP would
again be necessary.
An alternative approach is to regard
income from abroad from the standpoint of the U.S. recipient. To such a
recipient, the purchasing power of a
dollar of income earned abroad is indistinguishable from that of a dollar of
income earned in domestic production,
provided that currencies are convertible. Similarly, to a U.S. owner or part
owner of a domestic firm, it makes little
difference whether some of the dollars
the firm pays as dividends or interest
go abroad or all are paid to U.S. residents. Such considerations suggest obtaining deflated production series by
adopting the convention that the ratio
of national income to domestic income,
or national product to domestic product, is the same in constant dollars as
in current dollars. This procedure is the
same as deflating international property
income flows by the deflator for domestic income or product, so by this alternative as well the national gain concept leads to the same deflation procedure as that suggested as an expedient
consistent with the factor nationality
concept.
Changes in the treatment of factor
income flows
In the recent comprehensive revision
of the NIPA's, two major changes were
made in the treatment of international
factor income flows. One was the addition of reinvested earnings of incorporated foreign affiliates of direct investors, and the other was a change in the
procedure used to deflate international
factor income flows.
Reinvested earnings.—Prior to the
comprehensive revision, the international property income series had
omitted the net inflow of reinvested
earnings of incorporated affiliates of
direct investors. The original reason for
the omission had been that data for estimating these earnings had been lacking.
Also, the balance of payments accounts
SUKVEY OF CUKKENT BUSINESS
May 1981
Table 3.—Net Inflow of Factor Income From Abroad Based on Previous and Present
Procedures, 1929-80
[Values in billions of dollars]
Current dollars
ReinNet inflow by
vested
previous earnings,
procedure
net
Year
(2)
(1)
Net inflow by
present
procedure
(3)
Constant (1972) dollars
Changes due to—
Percentage added
Net into NI by flow by
Reinchange in previous Deflation
vested
Total
procedure procedure procedure earnings,
net
(5)
(4)
1929
1930
1931
1932
1933
1934
1935..
1936
1937
1938
0.8
.7
.5
.4
.3
.3
.4
.3
.3
.4
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
.2
.1
0.8
.7
.5
.4
.3
.3
.4
.3
.4
.4
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
.3
.4
.4
.4
.3
.4
.3
.5
.9
1.2
.1
0
.2
.2
.1
.1
.1
.3
.3
.4
1.1
1.3
1.5
1.5
1.5
1.8
2.0
2.2
2.3
2.2
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
(6)
(7)
(8)
.2
.1
1.9
2.1
1.9
1.7
1.6
1.3
1.4
1.3
1.0
1.4
0.5
.2
0
-.2
-.3
-.2
-.1
-.2
0
-.1
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
.5
.2
.5
.4
.5
.5
.5
.5
.4
.8
1.2
1.6
.2
0
.2
.1
.1
.1
.1
.1
.2
.2
1.2
1.3
1.2
1.1
1.0
1.0
.8
1.1
1.6
1.8
-.1
-.1
0
0
0
0
0
.1
.3
.4
.3
.3
.6
.8
.7
.5
.8
1.0
1.2
.8
1.4
1.6
2.1
2.3
2.2
2.3
2.8
3.2
3.5
3.0
.1
.1
.2
.3
.2
.2
.2
.3
.3
.2
1.9
1.9
1.8
1.8
2.0
2.3
2.5
2.7
2.9
3.0
2.4
2.5
3.1
3.6
3.7
4.3
4.7
4.2
4.6
4.8
.9
1.1
.8
1.0
1.3
1.1
1.2
1.5
1.3
2.0
3.3
3.6
3.9
4.6
4.9
5.5
5.9
5.6
5.9
6.7
.2
.3
.2
.2
.3
.2
.2
.2
.2
.3
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
4.5
4.6
6.5
6.9
8.8
13.1
10.5
14.4
17.8
20.6
2.4
2.7
2.6
4.0
7.2
6.7
6.9
6.0
5.7
9.4
6.9
7.3
9.2
10.9
16.0
19.8
17.3
20.5
23.5
29.9
1979
1980
28.7
37.1
15.1
12.5
43.8
49.7
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
..
0.5
.2
Net inflow by
present
procedure
Percentage added
to NI by
change in
procedure
(9)
(10)
-.2
-.3
-.2
-.1
-.2
.5
.1
2.4
2.3
.9
.5
.3
.1
,3
.1
1.5
1.5
0.2
.1
0
-.1
.2
-.1
0
—.1
.2
0
.5
.1
.5
.4
.4
.4
.3
.6
.6
.8
.4
.1
.5
.4
.3
.4
.3
.7
.9
1.2
1.6
1.4
1.7
1.5
1.3
1.4
1.1
1.8
2.5
3.0'
.2
0
.2
.1
.1
.1
.1
.2
.2
.3
.3
.6
.9
.8
.6
.8
.8
.8
.7
.4
.6
.5
1.0
1.4
1.1
.9
1.3
1.6
1.9
1.2
.8
1.1
1.9
2.2
1.7
1.7
2.0
2.4
2.6
1.6
2.7
3.0
3.7
3.9
3.7
4.0
4.5
5.1
5.5
4.6
.2
.2
.4
.4
.3
.3
.4
.4
.5
.3
3.2
3.2
4.1
4.8
4.9
5.7
6.1
5.4
5.9
6.1
.4
.4
.4
.3
.2
.3
.2
.1
0
-.3
1.3
1.6
1.2
1.4
1.8
1.5
1.6
1.9
1.7
2.4
1.7
2.0
1.6
1.7
2.0
1.8
1.8
2.0
1.6
2.1
4.9
5.2
5.7
6.5
6.9
7.5
7.9
7.4
7.5
8.2
.3
.3
.3
.3
.3
.2
.2
.2
.2
.2
.3
.3
.3
.4
.7
.6
.6
.4
.4
.5
5.7
5.4
7.1
6.9
7.3
6.8
4.8
6.8
7.6
8.1
-.6
-.4
-.3
0
1.0
4.6
3.5
4.2
5.2
5.7
2.8
3.0
2.7
4.0
6.8
5.9
5.5
4.6
4.1
6.3
2.2
2.6
2.4
4.0
7.8
10.5
9.1
8.8
9.3
12.0
7.9
8.0
9.5
10.9
15.1
17.3
13.9
15.6
16.9
20.1
.2
.3
.3
.4
.8
1.1
.9
.8
.8
1.0
.8
.6
9.1
8.8
8.6
12.4
9.4
7.1
18.1
19.5
27.2
28.3
1.5
1.7
n.a. Not available.
NOTE.—Columns 1 and 5 exclude the net inflow of reinvested earnings of incorporated affiliates except in 1929. Columns 3
and 9 include this net inflow except in 1930-36, when they exclude it, and 1937-39, when they include the gross inflow but
the outflow is not deducted. Beginning with 1967, columns 1 and 5 differ in some years from series published prior to the December 1980 NIPA revisions, because they incorporate statistical revisions in the current-dollar estimates and because capital
gains and losses of unincorporated affiliates that were formerly included have been removed back to 1978. Estimates prepared
by the previous procedure have not been published before for 1980; they are shown here to indicate the effect of procedural
changes on the 1980 estimates.
had omitted reinvested earnings of incorporated affiliates until June 1978.
The net inflow of reinvested earnings
is now included in the international
flow of property income and hence in
GNP, NNP, and NI. If a U.S. parent
(corporation, individual, or other entity) has, say, a 15-percent equity interest in a foreign corporation, it is
credited with 15 percent of the reinvested earnings (measured net of foreign income taxes).
These earnings should be included in
international income flows for conformity with both the factor nationality
and national gain concepts. As a result
of the change, the coverage of the income flows now corresponds rather
closely to that needed for conformity
with the national gain concept. Although measurement of taxes remains
an important difference from the factor
nationality concept, the coverage is
closer to that concept than previously.
SURVEY OF CURRENT BUSINESS
May 1981
CHART 4
Net Inflow of Factor Income From Abroad in Constant Dollars, 1948-80
Billion (1972)
301
25
large differences between current- and
constant-dollar net inflows of factor income that are not consistent with any
appropriate price index.
Comparison of previous and present
procedures
20
10
Deflation
Previous Procedure
I
1948
I
50
I
I
52
I
I
54
t
I
56
I
I
I
58
I
60
t
I
I
62
I
» I
64
66
I
I
68
I
I I
70
I
72
I
I I
I
74
76
I
I I I
78
80
U.S. Department of Commerce, Bureau of Economic Analysis
However, the series on international
flows of property income remain defective for use in measuring national income and product in that reinvested
earnings corresponding to dividends
received by portfolio investors (those
owning less than 10 percent of a foreign
corporation) are still omitted.16 In addition, the series used to measure earning of both incorporated and unincorporated foreign affiliates exclude the
inventory valuation and capital consumption adjustments. Capital gains
and losses are, properly, omitted, but
only beginning with 1978. Before 1978,
only losses of foreign affiliates from expropriations or nationalizations were
omitted.
Deflation.—All
approaches described—consistent with either the factor nationality or the national gain
concepts—call for use of a general price
index to deflate the international factor
income flows. By one approach it would
be necessary to obtain real GNP, NNP,
and NI, respectively, by deflating the
16. For further explanation of the distinction
between direct and portfolio investments, see Christopher L. Bach, "U.S. International Transactions,
First Quarter, 1978," SURVEY OF CURRENT BUSINESS 58 (June 1978, Part II) : 13-14.
international flows by the domestic
product price deflator for the corresponding series. However, the three
deflators are similar and it is inconvenient to have three insignificantly
different deflated series for the same
international income flow. Accordingly,
one deflator—that for net domestic
product—is used in constructing all
three.17
Prior to the comprehensive revision
of the NIPA's, factor income from
abroad was deflated by an implicit price
deflator for imports (covering goods
and some services) and factor income
to abroad was deflated by a similar deflator for exports. This procedure had
been adopted as an expedient when
BEA first introduced a series for deflated GNP in 1951. Because import
and export price indexes have diverged
since 1972, this procedure introduced
17. Use of the deflator for net domestic product
corresponds to the recommendation of G. Stuvel
("Asset Revaluation and Terms of Trade Effects
in the Framework of the National Accounts," The
Economic Journal 69 (June 1959) ; 282-84). Most
other writers cited in "Deflators for Deriving Command Series" in the appendix have not discussed
the deflation of factor income separately from that
of net exports, and then only in the context of deflating series corresponding to command rather than
production.
In chart 4, the estimates of net factor
income from abroad obtained by the
previous and present procedures are
compared. From 1937, the first year for
which reinvested earnings of incorporated affiliates have been separately estimated, through 1971, their addition
increased NI in current dollars by 0.3
percent or less (table 3, column 4).18
From 1972 through 1980, the increase
was 0.4 percent or more, reaching 0.7
percent in 1973 and a maximum of 0.8
percent, or $15 billion, in 1979.
The net inflow of factor income in
constant dollars is changed not only by
the addition of net reinvested earnings
but also by the new deflation procedure.
Up to 1972, the combined effect of these
changes was to raise NI in constant
(1972) dollars 0.4 percent or less except
in 1957 (column 10). From 1973 through
1978, real NI was raised 0.8 to 1.1 percent. In 1979 and 1980 it was raised 1.5
percent and 1.7 percent, respectively.
Of the 1980 difference of $19.5 billion
in 1972 dollars, $12.4 billion results
from changing the deflation procedure
and $7.1 billion from the addition of
reinvested earnings, deflated by the new
procedure (columns 6 to 8). Because the
changes in the real inflow of factor income are the same for GNP and NNP
as for NI in absolute amount, but the
levels of these series are higher, percent
changes in real GNP and NNP are
smaller than those in real NI.
18. The addition of the inflow of reinvested earnings begins with 1937 ; from 1937 to 1940 it did
not exceed $150 million in any year. Deduction of
the outflow begins with 1940, when it was $11 million. Estimates for preceding years back to 1930
were omitted for lack of information.
Reinvested earnings have always been included
in the 1919-29 estimates. (U.S. Department of Commerce, Bureau of Foreign and Domestic Commerce,
The United States in the World Economy, Economic Series, no. 23, Washington, D.C. : U.S. GPO,
1943, pp. 103, 212, 214.) The addition of reinvested
earnings in the post-World War II years makes national income and product totals for those years
comparable to those for 1929, with which they are
often compared.
SURVEY OF CURRENT BUSINESS
26
Deflation of Merchandise Trade and Services
Other Than Factor Income
THE previous part of this article described the procedure used in the deflation of international flows of factor income. This part describes the procedure
used for the remaining components of
exports and imports of goods and services. Although a number of improvements were introduced in the recent
comprehensive revision of the NIPA's,
deflation of these components remains
less than satisfactory because appropriate price data are not available.
Merchandise trade
Constant-dollar estimates of merchandise trade are derived by deflating
current-dollar values for end-use categories of exports and imports by the
Census Bureau's unit value indexes for
those categories, and the quotients are
added to obtain total exports and total
imports.19 The end-use categories—
six for exports and seven for imports—
are essentially market-category groupings (see NIPA tables 4.3, 4.4, and 7.17
in this issue).
The change in unit value for each
end-use category is an average of unit
value changes for detailed commodities, which total about 1200 for exports
and 700 for imports. The unit value of
a commodity is obtained by dividing
the total value of exports or imports of
the commodity by the quantities, such
as bushels, tons, or numbers of units,
exported or imported. If the quantities
and values referred to commodity classifications sufficiently detailed to correspond to products as defined for specification pricing, the unit values would be
true price indexes. The Census Bureau
classification, although detailed, does
not approach this level of refinement.
Consequently, changes in average value
for a commodity often are the result of
a combination of price change and vari19. There are two exceptions to this statement.
Census Bureau unit value data are not used for
gold or for aircraft exports. See Edward F. Denison and Robert P. Parker, "The National Income
and Product Accounts of the United States : An
Introduction to the Revised Estimates for 1929-80,"
SURVEY 60 (December 1980) : 6 and 7, for an
explanation.
ation in product mix, and the unit value
indexes are imperfect measures of price
change. The amount by which they
differ from price indexes over any period, and even the direction of the
difference, is unknown. Further, unit
values are not available for all commodities, either because quantity data
are not available from Census Bureau
records or because the commodities consist of such a mixture of unlike items
that computed unit values would be
erratic. The weight of commodities for
which unit values are not available is
usually assigned to other commodities
in the same 5-digit commodity group.20
Apart from the fact that the unit
value indexes are imperfect measures of
price change, the procedure by which
they are combined to arrive at the total
export and total import components of
GNP in constant dollars is not wholly
appropriate. When, as in the case of an
end-use category, a GNP component
that is separately deflated and the price
index that is applied to it cover more
than one product, the price index
should be a Paasche (given-yearweighted) index in which 1972 is the
base year and all other years—whether
they precede or follow 1972—are
"given" years. (Most price indexes are
not of this type; aside from merchandise trade, they are usually Laspeyres
indexes.) In the case of merchandise
trade, the Census Bureau calculates an
annual percentage change in unit value
for each end-use category by the Fisher
ideal index formula, which is the geometric mean of a Laspeyres index and
a Paasche index. The annual percentage changes are then linked to obtain a
continuous series for the end-use category, expressed with a base year equal
to 100.
BEA expects to substitute price indexes being developed by the Bureau of
20. For further explanation of Census Bureau
procedures, including those discussed subsequently,
see Indexes of U.S. Exports and Imports by Economic Classes: 1919 to 1911, U.S. Department of
Commerce, Bureau of the Census, Washington,
D.C.: U.S. GPO, 1971, appendix A.
May 1981
Labor Statistics (BLS) for unit value
indexes when coverage of the price indexes is sufficient. Coverage of the BLS
indexes has been progressively increased, and, at the end of 1980, extended to indexes representative of
categories of commodities that cover
about 62 percent of the value of exports
and 49 percent of the value of imports,
based on 1975 values. Piecemeal substitution for particular commodity categories is difficult because of differences
in classification among the Census
Bureau, BLS, and BEA data.
Services
If factor incomes are excluded, services were 16 percent of exports and 14
percent of imports in 1980. Procedures
for deflating passenger and freight
transportation are reasonably appropriate and were not changed in the
recent NIPA revision. Thus, payments
for and receipts from passenger fares
are deflated by price indexes that use
the numbers of travelers in the various
routes and areas as weights for series
for average fares derived from BEA
surveys of travelers and published
fares. Freight charges and port expenditure payments in the base year are
moved by volume indexes that combine
the quantities of freight in broad categories by use of base-year value weights;
information is provided by the Census
Bureau.
Travel expenditures by foreigners in
the United States, formerly deflated by
the U.S. Consumer Price Index for
services, are now deflated by an average
of indexes for the principal items that
travelers buy. Expenditures by Americans in each foreign country continue
to be deflated by the consumer price
index of the country in which expenditures are made, adjusted for exchange
rate changes.
Transfers under U.S. military sales
contracts, an export component, are
now deflated, by commodity groups, by
implicit price deflators developed by
BEA for deflation of national defense
purchases, starting with 1972. Also
starting with 1972, exports of miscellaneous U.S. Government services are
SUEVEY OF CURRENT BUSINESS
May 1981
now deflated by the deflator for U.S.
Government sales of services. Prior to
the revision, both these Government
components had been deflated by the
deflator for merchandise exports.
For the miscellaneous groups, representing about 4 percent of total 1980
exports other than factor services and
1 percent of corresponding imports,
there is no directly relevant price information. These groups are deflated by the
gross domestic product deflator. About
one-half of the exports and one-sixth
of the imports consist of fees and royalties paid between affiliates. Before the
recent revision, these components were
deflated like factor incomes—exports
by an import deflator and imports by
an export deflator. The procedure was
changed for the same reason as that for
factor income. The remaining exports
of miscellaneous services were formerly
deflated by the implicit deflator for
other exports, and the remaining imports of miscellaneous services by the
implicit deflator for other imports.
Appendix
Deflators for Deriving
Command Series
Whether, in the calculation of series
like command, net exports should be deflated by import or export prices has
been the subject of lively discussion.
The choice actually has little influence
on the U.S. estimates of command because net exports in current prices are
such a small percentage of the total
value of production. Even in 1980, when
the difference between indexes of export
and import prices was largest, use of
export prices instead of import prices
would change command in 1972 dollars
(GNP basis) by only 0.2 percent and
its growth rate from 1972 to that date
by only 0.03 percent. This is fortunate
because the choice necessarily is rather
arbitrary, as is always the case when a
monetary flow that does not correspond
to a flow of real goods or services is
deflated.
Advocates of the use of import prices
have expressed their case in two related
ways. First, net exports in current
prices are visualized as adding to (if
positive) or subtracting from (if negative) a country's ability to pay for imports in the future; hence, it is argued,
import prices should be used to deflate
the balance. Advocates expressing their
case in the second way rely on the fact
that deflation of net exports by import
prices is the same as deducting gross
imports deflated by import prices from
gross exports deflated by import prices.
William I. Abraham, for example,
writes: "What is the real value of exports? . . . [It] is not the quantity of
exports, but the quantity of imports
which can be bought with the export
earnings. The value of exports in constant prices in this sense is obtained by
dividing the current value of exports not
by an export price index, but by an import price index. . . ." (National Income and Economic Accounting, Englewood Cliffs, N.J.: Prentice Hall, Inc.,
1969, pp. 119-120).
The origin of the convention of deflating the net balance by import prices
has been attributed by A. L. Bowley
(Studies in the National Income, 19241938, Cambridge: Cambridge University Press, 1944 ed., p. vi) to J. L.
Nicholson. Nicholson later advocated
this procedure in "The Effects of International Trade on the Measurement of
Real National Income," a paper delivered at the 1959 conference of the International Association for Research in
Income and Wealth, Portoroz, Yugoslavia, 1959. The Economic Commission for Latin America used a procedure equivalent to this (the third
formula in footnote 5), and it has been
endorsed by Richard Stone (Quantity
and Price Indexes in National Accounts, Paris: Organisation for European Economic Cooperation, 1956, p.
95), Walter S. Salant ("Trade Balances in Current and Constant Prices
When the Terms of Trade Change:
Questions About Some Eternal
Truths," in Breadth and Depth in Economics, ed. Jacob S. Dreyer, Lexington,
Mass.: Lexington Books, D. C. Heath
and Company, 1978), and, in 1968, by
the United Nations Statistical Office (A
System of National Accounts, Studies
in Methods, ser. F., no. 2, rev. 3, United
Nations, 1968, p. 53).
27
It is sometimes argued that export
prices should be used instead of import
prices. In contrast to advocates of the
use of import prices, advocates of this
view visualize net imports in current
prices as adding to (if positive) or subtracting from (if negative) a country's
liability to provide future exports to
pay for present imports.
R. C. Geary and R. W. Burge advocated a compromise between these
views: use of an import price index
when net exports are positive and an
export price index when they are negative (Geary, in "Introduction," p. 5, and
Burge, in "Deflation Within an Accounting Framework: with Reference
to Australian Data," p. 18, both in
Studies in Social and Financial Accounting, Income and Wealth, ser. 9, ed.
Phyllis Deane, International Association for Research in Income and
Wealth, London: Bowes and Bowes,
1961). However, as Salant has pointed
out to the author, because an accumulation of assets can be used either to increase future imports or reduce future
exports, and an accumulation of liabilities can be liquidated by either reducing future imports or increasing exports, it is not clear why the deflator
should depend upon the sign of net
exports.
Yoshimasa Kurabayashi ("The Impact of Changes in Terms of Trade on
a System of National Accounts: An attempted Synthesis," Revieiv of Income
and Wealth 17, September 1971: 28597, and "Terms of Trade Effect, Productivity Change, and National Accounts in Constant Prices—Reply and
Further Comments," Review of Income
and Wealth 18, September 1972: 32731) and Raymond Courbis ("Comment on Y. Kurabayashi: The Impact
of Changes in Terms of Trade on a System of National Accounts," Review of
Income and Wealth 18, June 1972:24750, and "Terms of Trade Effect, Productivity Change, and National Accounts
in Constant Prices—A Further Comment," Review of Income and Wealth
18, December 1972: 421-27) advocate a different compromise: use of
the implicit deflator for exports and imports combined. There are still other
possibilities. Solomon Fabricant sug-
28
gests use of the implicit price deflator
for gross domestic capital formation
("Notes on the Deflation of National
Accounts," in Studies, Deane, p. 51). G.
Stuvel is sometimes said to have
favored use of the net domestic product
deflator, but he was discussing the deflation of national accounts tied to the
production concept, rather than the derivation of a command series ("Asset
Revaluation and Terms of Trade Effects in the Framework of the National
Accounts," The Economic Journal 69,
June 1959: 283).
The main text of this article develops
two propositions with regard to production and command: (1) Both production and command measures are
needed and (2) for inclusion in GNP,
NNP, and NI, which are measures of
production, a net export series derived
by separate deflation of exports and
imports—the present BEA procedure—
is appropriate.
Agreement about these propositions
is not unanimous. It has sometimes been
proposed that only a command series be
calculated and that it be used to measure production. (For example, see Solomon Fabricant, "Capital Consumption
and Net Capital Formation," A Critiquz of the United States Income and
Product Accounts, Studies in Income
and Wealth, vol. 22, Princeton: Princeton University Press for the National
Bureau of Economic Research, 1958, pp.
446-47.) Under such a proposal, the
events in the arithmetic example in the
main text would be described by stating
that, although production of wheat was
unchanged, the country's production
fell because its terms of trade deteriorated. An increase or reduction in production, measured by this method that
results from a change in the terms of
trade is labeled the "trading gain or
loss." R. W. Burge ("Deflation," p. 20)
and R. C. Geary ("Productivity Aspects of Accounts Deflation: Data for
Ireland," p. 37, both in Studies, Deane)
measured Australian and Irish production, respectively, in this way. The
trading gain, as they recognized, cannot be allocated by industry or sector.
G. Stuvel states that "Almost without
exception national-accounts statistiDigitized cians have taken the view that only
for FRASER
SURVEY OF CURRENT BUSINESS
May 1981
commodity flows can be deflated, i.e., revalued at the prices of a common base
period, since all other items in the system of national accounts, such as transfers, saving, and lending, have no
specific price attached to them." Consequently, he says, deflation has been confined to production accounts, and
exports and imports have been separately deflated ("Asset Revaluation and
Terms of Trade Effects in the Framework of the National Accounts," The
Economic Journal 69, June 1959: 282).
William I. Abraham also says most
countries deflate exports by export
prices and imports by import prices
(National Income, p. 119). R. C. Geary,
however, states that "most workers in
this field reject" the separate deflation
of exports and imports. "The view
taken is that" net exports should be
deflated separately, "giving real national income something of an economic
welfare connotation" ("Introduction"
in Studies, Deane, pp. 4-5).
A 1979 report of the Statistical Office
of the United Nations Department of
International Economic and Social
Affairs (Manual on National Accounts
at Constant Prices, ser. M, no. 64, pp.
7-8) argues that producers of national
accounts should provide constant price
series only for flows of goods and services—in this case exports deflated by
export prices and imports by import
prices. The report recommends leaving
deflation of monetary flows to users of
the data since there is no single correct
deflator for them.
The Economic Commission for Latin
America (ECLA), when Raul Prebisch was its Executive Secretary, emphasized the distinction between series
that do or do not reflect changes in the
terms of trade, but the terminology it
used for the series varied over time. The
Economic Survey of Latin America,
1951-52 used the term "output" to describe what BEA calls gross domestic
product, a series that is not affected by
the terms of trade. It used "gross product" to describe the command counterpart to gross domestic product, which
does take into account changes in the
terms of trade. The Economic Survey
of Latin America, 1955 changed the terminology. "Gross product" in that
Economic Survey meant what BEA
calls gross domestic product, and "gross
income" was used to designate the command counterpart to it. This practice
was continued through the survey for
1966 except that, beginning with the
Economic Survey for 1964 or possibly
earlier, net factor income from abroad
was included in gross income so the series was the command counterpart to
GNP rather than to gross domestic
product. After 1966, series corresponding to command were omitted from the
tables, although the text for 1967 did
refer to a divergence between "domestic
product" and "real income" due to
changes in the terms of trade.
ECLA referred to the difference between the two types of series as the
"terms of trade effect," described as the
"gain or loss resulting from changes in
the terms of trade relative to the base
year. . . . It has been calculated as the
product of exports of goods and services
expressed in prices of the base year"
and the change "since the base year in
the index of the terms of trade (the
ratio of the unit value index of exports
to that of imports) ; or, what amounts
to the same thing, as the difference between the value of exports of goods and
services deflated by the import price
index and the same value deflated by
the export price index." (United Nations, Economic Survey of Latin America 1955, p, 20.)
G. Stuvel in 1959 ("Asset Revaluation," p. 287) followed ECLA practice
at that time of distinguishing "real
product" from "real income." Use of
"national product" for series that do
not reflect changes in the terms of trade
and "national income" or "income" for
series that do reflect them is still encountered today, especially among foreign trade economists. Walter S. Salant
("Trade Balances," in Dreyer, Breadth
and Depth) is a recent example. Earlier
ones are Abraham (National Income)
and Fritz Machlup ("The Terms-ofTrade Effects of Devaluation Upon
Real Income and the Balance of
Trade," Kyklos, fasc. 4, 1956, pp. 44142). But in the context of the national
economic accounts, the practice is confusing because these names have been
preempted to distinguish between market price and factor cost output
measures.
By JOAN E. BOLYARD
International Travel
and Passenger Fares, 1980
Despite the similarities in the two
J-HE U.S. travel and passenger fare were petroleum importers, intensified
deficit declined 28 percent in 1980, to inflation, and decreased output and periods, international travel and passenger fare transactions responded
$1.9 billion—the lowest level of net U.S. employment.
payments on international travel and
passenger fare transactions since 1968.
Receipts from foreign visitors in the
United States, and the fares they paid
This article reviews expenditures of U.S. residents traveling abroad and expendito U.S. transoceanic carriers, totaled
tures of foreign residents visiting the United States. These expenditures consist of. the
$12.1 billion, an increase of 21 percent
travel accounts and part of the passenger fare accounts that appear in the U.S. international transactions accounts. They do not cover U.S. carriers' receipts for transportfrom 1979. Expenditures of U.S. traving foreign residents between foreign points, because these receipts do not involve travel
elers abroad, and their payments to forto and from the United States; these receipts are included in the passenger fare account
eign transoceanic carriers, totaled $14.0
in line 5 of tables 1, 2, and 10 of the quarterly presentation of U.S. international transbillion, an increase of 11 percent
actions. Travel expenditures do cover passenger fares paid by U.S. travelers to U.S.
(tablel).
transoceanic carriers, which are an important part of total expenditures by U.S.
travelers; these fares do not enter into the U.S. international transactions accounts.
This article reviews U.S. internaTravel account payments include expenditures in foreign countries by U.S. visitors
tional travel and passenger fares in
for food, lodging, entertainment, transportation purchased abroad, and other expenses
1980, and makes some comparisons of
incidental to a foreign visit. Excluded are expenditures by U.S. military and other
developments in 1979-80 and 1974-75,
Government personnel stationed abroad, by their dependents, and by U.S. citizens residtwo periods of worldwide economic
ing abroad. Payments to foreign transoceanic carriers and shipboard expenditures are
included in the passenger fare account. Shore expenditures of cruise passengers are
downturn associated with sharp inincluded in travel payments.
creases in petroleum prices. The petroTravel account receipts include expenditures in the United States by foreigners on
leum price increases affected internabusiness, pleasure, and study trips, and by those in transit for services similar to those
tional travel directly through higher
indicated for payments. Receipts of U.S. transoceanic carriers from foreigners are
fuel costs and indirectly through reincluded in the passenger fare account.
duced real incomes in countries that
Table 1.—International Travel and Passenger Fare Transactions
[Millions of dollars]
1973
Total expenditures of U.S. residents for travel abroad
»
Less: U.S. passenger fare payments to U.S. carriers (not included in U.S. international transactions
accounts)
_
Total travel and passenger fare payments
Travel: Payments of U.S. travelers in foreign countries (line 20)
Passenger fares: U.S. payments to foreign carriers (line 21)
Total travel and passenger fare receipts
Travel: Receipts from foreign visitors in the United States (line 4)
Passenger fares: Receipts of U.S. carriers for transportation of foreign visitors to and from the United
States (part of line 5) 1
Net travel and passenger fare payments..
1974
1975
1976
1977
1978
1979
8,472
9,406
10, 143
10,868
11,924
13, 155
14,575
1980
16,508
1,156
1,331
1,463
1,444
1,725
1,784
1,978
2,504
7,316
8,075
8,680
9,424
10, 199
11,371
12,597
14,004
5,526
5,980
2,095
6,417
2,748
8,475
2,896
9,413
3,184
10, 397
2,263
6,856
2,568
7,451
1,790
4,130
4,845
5,464
6,679
7,175
8,424
10,012
12,143
3,412
4,032
4,697
5,742
6,150
7, 186
8,335
10,090
718
813
767
937
1,025
1,238
1,677
2,053
3,186
3,230
3,216
2,745
3,024
2,947
2,585
1,861
3,607
1. Excludes fares paid by foreigners to U.S. carriers for transportation between two foreign points.
NOTE.—References in parentheses are to lines in tables 1, 2, and 10 of the quarterly presentations of U.S. international transactions in the March, June, September, and December issues
of the SURVEY OF CURRENT BUSINESS.
29
30
May 1981
SURVEY OF CURRENT BUSINESS
38 percent and 40 percent, respectively,
and in constant (1972) dollars, 19 perTrends in International Travel and Passenger Fare Transactions
cent and 12 percent.
Annual Percent Change
Overseas.—Travel receipts from
30
overseas visitors, which accounted for
about 50 percent of total travel receipts,
increased 17 percent in 1980 (table 2
and chart 7). Visitors' average expenditures were up 9 percent and the number
of visitors was up 7 percent, far below
the rate of increase in previous years
(tables 3 and 4). As in 1974-75, higher
air fares discouraged overseas visitors
to the United States, and rising U.S.
prices were largely responsible for
higher average expenditures. Passenger
Receipts
fares paid to U.S. carriers by foreign
| [Payments
visitors to the United States increased
22 percent in 1980.
II Net Payments
I
International travel is affected by exchange rates—those assumed to prevail
for purposes of planning and those
78
80
79
1973
actually prevailing at the time of
U.S. Department of Commerce, Bureau of Economic Analysis
travel. However, the volatility of exchange rates in 1980 made it particusomewhat differently to the 1974-75 lowed U.S. downturns, U.S. travel and larly difficult to trace their effects on
and 1979-80 petroleum price shocks passenger fare receipts increased sub- expenditures in the United States for
(chart 5). Both U.S. travel receipts and stantially in 1974-75 and 1979-80. The that year. Differences in exchange rates
payments increased at a slower rate in increase in the number of overseas visibetween 1974-75 and 1979-80 contrib1975 than in 1974. In contrast, U.S. tors dropped sharply in both periods,
receipts increased at a faster rate in but higher U.S. inflation and apprecia- uted to the differences in the response
1980 than in 1979, and U.S. payments tion of major foreign currencies against of travel expenditures in the United
increased at the same rate in both years. the dollar contributed to higher average States in the two periods. Exchange
A milder downturn in the later period expenditures by those who did visit. rates in 1979-80 were more favorable
and a smaller increase in air fares paid U.S. travel and passenger fare receipts than in 1974-75 for visitors from Gerby U.S. travelers overseas—26 percent increased 32 percent in 1974-75 and 44 many and Japan—two countries from
compared with 41 percent—accounted percent in 1979-80. The travel receipts which major shares of overseas visitors
for some of the difference in response. component, in current dollars, increased to the United States were drawn. For
Differences between the two periods in
the strength of the U.S. dollar relative
Table 2.—U.S. Receipts From Foreign Visitors in the United States
to foreign currencies and in U.S. gaso[Millions of dollars]
line prices relative to prices in Canada
and Mexico also contributed to the
1973
1974
1975
1976
1977
1978
1979
1980
difference.
7 ige
3 412
4 032
4 697
5 742
6 150
10 090
8 335
U.S. travelers' expenditures abroad, Total U.S. travel receipts
Canada
__
1,072
1,225
1, 561
2 428
1,983
2 150
2 248
2 092
adjusted for changes in consumer prices
2 554
Mexico
830
1 142
1 311
1 364
1 316
1 459
1 869
U.S. border area
598
972
858
1 023
967
954
1 160
1 646
abroad and dollar exchange rates, deOverseas
_ _ _ _
_ _
1,510
1,665
1 825 2 395
2 684
3 479
4 374
5 108
clined in each period, but considerably
Western Europe
559
570
611
852
1 003 1 323
1 667
1 942
more in 1974-75 than in 1979-80 (chart
126
United Kingdom
142
144
183
205
308
469
375
6). Foreign visitors' expenditures in
76
France
63
68
96
121
140
180
216
Germany
137
126
145
206
263
333
500
440
the United States, adjusted for changes
46
Italy
43
41
59
61
70
96
84
27
28
36
Netherlands
-—
49
57
97
84
108
in the U.S. Consumer Price Index,
19
Sweden. .
22
23
37
40
54
na
na
72
27
23
32
Switzerland
43
51
na
na
increased in each period, but more in
Other
105
119
122
179
205
262
na
na
1974-75.
205
216
Caribbean and Central America _ _ _ _ _ _ _ _
206
289
276
322
375
417
CHART 5
Foreign travel in the United States
Despite economic downturns abroad,
which coincided with or closely fol
South America
198
237
303
360
455
660
793
977
Other areas
Japan.
548
334
642
402
705
410
894
439
950
450
1 174
1 539
699
1 772
774
n.a. Not available.
_
539
SURVEY OF CURRENT BUSINESS
1981
May
the United Kingdom, another country
from which many visitors were drawn,
the exchange rate in 1979-80 was about
the same as that in 1974-75.
Canada.—U.S. travel receipts from
Canada, which accounted for almost 25
percent of total travel receipts, increased 16 percent in 1980, after a drop
in 1979. Higher average expenditures,
reflecting the high rate of inflation in
the United States, accounted for most
of the increase; the number of Canammmmmmm^mmmmmm CHARTS
International Travel Expenditures
Billion $
11
FOREIGN TRAVEL IN THE U.S.
10
Current $
,-*
Constant (1972) $'
t
i
I
i
i
I
U.S. TRAVEL ABROAD
10 -
Current $
dian visitors increased only 1 percent. little change in, constant-dollar U.S. per
The number of visitors traveling by capita disposable personal income were
auto and returning to Canada the same partly responsible for declines.
day they entered the United States deA milder downturn and smaller yearclined 2 percent, while those staying over-year exchange rate movements reone night increased 2 percent. Receipts sulted in less disruption to U.S. travel
from visitors in two other categories ac- abroad in 1979-80 than in the earlier pecounted for over 85 percent of all travel riod. Another factor contributing to the
receipts from Canada. The number size of U.S. payments in the later period
traveling by auto and staying two or was the decontrol of fuel prices in the
more nights was up 9 percent, and the United States, which resulted in larger
number traveling by air was up 6 differences between gasoline prices in
Canada and Mexico and those in the
percent.
Canadian travel to the United States United States. These differences drew
has gradually become less seasonal. The many U.S. residents of border areas to
percentage of visits made in the third Canada and Mexico to purchase the less
quarter has declined over recent years expensive fuel, contributing importo 34 percent in 1980, and the percent- tantly to the increases in travel spending
ages of visits made in the second and in those neighboring countries.
first quarters have increased to 26 perCHART 7
cent and 21 percent, respectively.
Overseas Travel
Mexico.—Receipts from Mexican
visitors in the United States, which ac- Billion $ (Ratio scale)
counted for 25 percent of total U.S. 7.0
TOTAL EXPENDITURES
travel receipts increased 37 percent in
6.0
1980. The increase was largely due to a
42-percent increase in U.S. border area 5.0
receipts. A U.S. inflation rate about
Payments
one-half that of Mexico made prices of 4.0
goods and services in the U.S. border
area increasingly attractive. Concern
3.0
about possible devaluation of the Mexican peso may have led to stepped-up
conversion of pesos into dollars in U.S.
border areas.
2.0
Travel receipts from Mexican visitors in the interior portion of the United 1.5
I
I
i
States increased 28 percent in 1980, a Dollars (Ratio scale)
800
AVERAGE EXPENDITURES
rate below those of the 2 previous years.
Newly established air routes helped 700
U.S. Travelers Overseas
boost travel to the United States in 600
\ ^^ \ the U.S.
1978-79, but higher air fares in 1980
Visitors in
500
may have reduced some of this new air
traffic.
I
I
I
400
I7.S. travel abroad
1973
74
75
76
77
78
79
80
1. Adjusted for changes in the U.S. Consumer Price Index.
2. Adjusted for changes in foreign consumer prices and changes
in dollar exchange rates; country data are weighted by travel
expenditures and summed to total.
U.S. Department of Commerce, Bureau of Economic Analysis
81-5
31
U.S. travel and passenger fare payments were affected by weakness in economic activity, although not as much as
in 1974-75. In current dollars, these payments increased 23 percent in 1979-80
and 19 percent in 1974-75. The travel
payments component increased 23 percent and 16 percent, respectively. In constant (1972) dollars, this component declined 1 percent in 1979-80 and 12 percent in 1974-75. Rising costs abroad and
Millions (Ratio Scale)
9.0 TRAVELERS
8.0
7.0
6.0
U.S. Travelers Overseas
5.0
4.0
/
Visitors to the U.S.
I
3.0
1973
74
75
76
I
77
i
78
79
U.S. Department of Commerce, Bureau of Economic Analysis
80
SURVEY OF CURRENT BUSINESS
32
Overseas.—U.S. travel payments
overseas, which accounted for 58 percent of total U.S. payments abroad, increased 12 percent in 1980 (table 5).
Travelers' average expenditures were
up 8 percent, reflecting the high rate of
inflation in many countries overseas
(table 6). Also, average lengths of stay
increased for travelers to Europe and
the Mediterranean, Bermuda, Other
Caribbean and Central America, and
South America (table 7). Lengths of
stay decreased only in the Bahamas and
"Other areas", primarily the Pacific
and Far East. The total number of U.S.
travelers overseas increased 4 percent
(table 8). In 1980, U.S. travelers paid
13 percent or more to foreign flag carriers and 27 percent more to U.S. flag
carriers for passenger fares than in
1979. In total, U.S. travelers spent 18
percent more for passenger fares overseas.
Air fare increases—largely due to fuel
price increases—were substantial in
both 1974-75 and 1979-80. As shown in
the accompanying tabulation, in 197475, the average air fare paid by U.S.
travelers overseas increased from $386
to $545, or 41 percent, and contributed
to an 8-percent decline in the number of
U.S. travelers overseas. In 1979-80,
when the average air fare paid increased
from $570 to $719, or 26 percent, the
number of travelers increased 5 percent.
This increase was, however, well below
those in previous years.
Average air
fare of U.S.
travelers
overseas
(dollars)
1973
U.S. air
travelers
overseas
(thousands)
1974
1975.
1976
386
493
545
547
6 876
6 420
6,318
6 842
1977
1978.
1979.__.
1980
572
570
628
719
7 360
7 763
7 810
8 127
For trips to Europe and the Mediterranean area, average cost in 1980 was
'$1,676, up 21 percent from 1979, of
which $809 was for air fares and $867
was for within-country expenses.
Higher air fares and higher within
country expenses affected travel to Eu
May 1981
Table 3.—Average Expenditures of Overseas Visitors in the United States, by Area
[Dollars]
1973
1974
1976
1975
1977
1978
1979
1980
425
450
497
537
595
604
605
Western Europe
344
369
407
450
532
533
532
66
57
Caribbean and Central America
412
425
431
504
478
458
439
49
South America
553
591
692
706
794
854
797
83
509
515
560
604
645
650
686
75
Total .
Other
_
Canada, which accounted for 17 percent of total U.S. payments abroad, increased 14 percent in 1980, about the
same rate as in 1979.
U.S. auto travelers who enter and return from Canada on the same day accounted for 68 percent of all U.S. travelers to Canada compared with 60 percent
in 1979. Their expenditures increased 51
percent, and were almost one-half of the
increase in total travel payments to
Canada. Canada's lower gasoline prices
and the favorable exchange rate of the
U.S. dollar for the Canadian currency
contributed to the expenditure increases,
which were concentrated in Canadian
provinces near large U.S. cities.
Increases in other categories of U.S.
rope and the Mediterranean in both
1979-80 and 1974-75, but more in the
earlier period. The number of U.S. travelers declined 4 percent in 1979-80, compared with a 19-percent decline in 197475.
For travel payments to the Caribbean
and Central America, 1980 increases
were mostly due to higher average expenditures. For travel payments to
South America and "Other areas," primarily the Pacific and Far East, increases in the number of travelers more
than compensated for slight drops in
average expenditures, resulting in substantial increases in travel payments to
the two areas.
Canada.—U.S. travel payments to
Table 4.—Foreign Visitors to the United States From Overseas, by Area and Type of Visa
[Thousands]
1973
1974
1975
1976
1977
1978
3,554
3,700
3,674
4,456
4,509
5,764
7,230
7,706
1,623
1,544
1,500
1,892
1,885
2,483
3, 135
3,368
1,076
1,247
1,258
1,473
1,805
764
748
1,481
750
886
2,245
1,095
471
242
31
31
167
106
499
253
34
37
175
102
476
241
32
35
168
92
607
318
47
47
195
92
641
334
53
53
201
93
763
398
59
62
244
111
945
495
70
80
300
135
1,040
541
74
93
332
n.a
Pleasure
Europe
Caribbean and Central America
South America _
Other areas
Japan .
2 772
1 261
2 889
1 169
2 909
1 159
3 526
1 466
3,530
1,438
4,598
1,962
5,805
2,490
485
427
482
483
1,148
1,127
Transit . _
Europe ._
Caribbean and Central America
South America
Other areas
Japan
Total .
- _
Europe..
__ _
Caribbean and Central America
South America
Other areas
_
Japan
Business
__ __ __
Europe
Caribbean and Central America
South America
__
Other areas
Japan
_
_
__ ___
_ _ _ _ _ _
_
__ __-
497
358
639
Student .
Europe ._ _
Caribbean and Central America
_ __
South America
__ __
Other areas
_
_
__ _
Japan
_ _
±
478
438
573
510
766
578
573
703
773
855
995
1980 v
835
1,168
2,335
n.a.
431
333
956
646
406
370
974
635
659
636
745
925
6,312
2,72C
716
1,033
1,843
n.a
224
109
26
23
66
10
224
111
27
21
65
8
197
89
24
22
62
11
205
94
25
22
64
5
206
98
26
21
61
10
229
102
36
22
69
15
265
120
40
25
80
20
170
79
26
17
48
n.a
87
11
16
11
49
6
88
11
16
10
51
8
92
11
16
11
54
10
118
14
16
14
74
10
132
15
17
16
84
11
174
21
20
23
110
15
215
30
25
30
130
15
184
28
19
25
112
n.a.
424
293
794
517
_
508
401
1979 *
588
666
1,382
720
860
1,735
TO Preliminary.
NOTE.—Data are not adjusted for multiple entries on a single trip.
Source: U.S. Department of Commerce, Bureau of Economic Analysis, based on data from U.S. Department of Justice,
Immigration and Naturalization Service.
SURVEY OF CURRENT BUSINESS
May 1981
33
Table 5.—Travel Payments of U.S. Travelers in Foreign Countries, by Area
[ Millions of dollars]
1973
Total travel payments
_
Canada.
Mexico __
Mexico border area
_-
-
1980
__
__
_ _
2,460
1,291
1,416
3,146
3,474
3,762
4,100
4,947
5,354
6,016
1,802
1,918
2,150
2,398
2,942
3,185
3,412
1,600
1,709
1,885
2,103
2,600
2,842
3,021
368
198
188
117
404
226
194
121
494
254
207
129
585
233
240
145
771
287
260
153
826
355
300
158
903
383
360
150
153
61
43
32
174
65
43
29
195
70
38
37
203
73
51
40
220
75
70
52
283
84
54
38
322
104
49
42
33
63
25
201
31
47
31
138
44
60
39
135
40
58
35
117
37
49
34
151
49
65
37
213
47
71
50
200
51
95
44
173
36
47
84
26
19
55
73
28
14
83
90
24
37
97
102
26
53
110
140
45
58
115
163.
40
69
103
139
34
202
209
265
295
342
343
391
95
107
57
152
118
147
146
149
144
198
157
186
179
212
685
787
784
790
888
1,019
1,134
110
151
122
118
161
118
133
168
109
123
158
100
136
198
118
164
224
122
191
262
118
95
55
95
__ __
1,599
570
__
__
9,413
1,407
2,121
1,128
80
136
109
~
8,475
1,433
1,918
1,165
193
__
7,451
1,371
1,723
1,007
100
93
Norway
Netherlands.
..
Belgium-Luxembourg
Spain . _
6,856
1,306
1,637
1,047
58
45
88
27
_
6,417
1,359
1,475
904
170
77
42
27
-
5,980
354
237
218
135
-
-
87
60
155
103
97
190
125
102
147
144
106
159
153
114
169
190
138
181
189
157
217
—
Other Europe and Mediterranean
Israel
Other
Caribbean a n d Central America
_ _ _ _ _
Bermuda
Bahamas
Jamaica .
Other British West Indies
Netherlands West Indies
Other West Indies and Central America
__ __
__
__
__ __
10,397
1,817
2,564
_ _
132
__ __ __ _
__
__ __
242
232
254
306
288
392
450
527
596
658
811
862
1,078
123
65
48
173
__
209
409
_
Other areas
Japan
_ _ _ _ _
Hong Kong
Australia-New Zealand
Other
1979
1,800
-
-
United Kingdom
France
Italy
Switzerland
South America
1978
1,993
-
-
Portugal
Ireland
Greece.
Other Western Europe
1977
1,158
1,264
715
Europe and Mediterranean *
Germany
Austria
Denmark
Sweden
1976
5,526
-
Western Europe
1975
3,104
-
Overseas
-
1974
102
75
55
218
131
75
54
267
145
74
82
295
149
87
92
330
155
113
123
420
142
137
153
430
185
145
234
514
1. Includes all European countries, Algeria, Cyprus, Egypt, Israel, Lebanon, Libya, Malta, Morocco, Syria, Tunisia, and Turkey.
NOTE.—Includes shore expenditures of cruise travelers.
travelers were much smaller. The number of U.S. auto travelers staying one
night, and those staying two or more
nights, increased less than 1 percent
each. Air travelers, who generally have
the highest average expenditures, increased only 1 percent in number. The
last two categories accounted for about
70 percent of all U.S. travel payments
to Canada.
The increase in travel to purchase
gasoline in 1979-80 modified the quarterly distribution of U.S. travelers. Although the third quarter is still the
most popular for U.S. travel to Canada,
it accounted for only 40 percent of the
annual total in 1980, compared with 52
percent in 1978. Travelers in the first
quarter accounted for 14 percent, up
from 9 percent, and in the fourth
quarter for 19 percent, up from 14 percent.
Table 6.—Average Expenditures of U.S. Travelers Oversea s, by Area
[Dollars]
1973
1976
1977
1978
1979
1980
726
478
533
533
543
624
672
509
542
602
610
612
717
783
867
484
513
572
572
574
664
735
806
265
215
243
175
300
240
286
214
337
356
282
311
221
375
296
336
234
447
325
362
267
511
376
418
295
572
431
481
284
186
149
153
145
216
182
179
197
238
173
187
192
243
177
178
240
264
203
214
222
288
176
258
244
328
200
262
279
409
248
271
311
...
194
111
72
257
229
133
127
296
326
145
137
366
301
134
121
379
252
155
142
452
297
179
158
407
343
187
195
451
432
241
181
470
...
..
173
214
280
202
270
371
n.a.
203
287
411
n.a.
246
331
393
n.a.
276
320
397
n.a.
272
372
493
n.a.
297
414
528
n.a.
373
431
489
n.a.
Western Europe
United Kingdom . . . .
France
Italy
......
Switzerland
..
...
.
Norway
Netherlands
-.
B elgium-Luxembourg
Spain
..
Portugal
.
..
Ireland
.
..
Greece
.
-.
Other Western Europe
..
..
n.a.
279
294
213
n.a.
n.a.
n.a.
409
447
n.a.
462
n.a.
520
n.a.
609
n.a.
619
n.a.
250
295
338
318
320
340
367
398
494
541
532
526
594
664
658
787
802
809
839
1,007
1,078
1,064
383
Israel
Other
Caribbean and Central America
345
South America
Other Areas
1975
439
Total
Europe and Mediterranean
Germany
Austria
Denmark
Sweden
1974
.
n.a. Not available.
NOTE.—Excludes shore expenditures of cruise travelers.
678
412
34
Mexico.—U.S. travel expenditures in
Mexico, which accounted for 25 percent
of total U.S. payments abroad, increased
4 percent in 1980, well below the rate of
increase in previous years.
Expenditures in the border area of
Mexico were up 10 percent. The lower
gasoline prices in Mexico drew many
U.S. travelers into the border area, despite the high rate of inflation in Mexico
that pushed prices for other goods up
even faster than in the United States.
Travel expenditures in the interior of
Mexico fell 2 percent. Rapidly rising
Mexican prices and higher air fares
combined to discourage U.S. travel
there.
SUKVEY OF CUREENT BUSINESS
May 1981
Table 7.—Average Length of Stay of U.S. Travelers in Selected Areas
[Days]
1973
Europe and Mediterranean..
1974
1975
1976
1977
1978
1979
1980
24
Caribbean and Central America:
Bermuda
_
Bahamas _ __
Other Caribbean and Central America
South America .
24
24
19
20
20
21
6
5
10
._
24
6
6
10
6
6
12
6
6
g
6
6
9
g
7
12
6
7
11
7
6
12
14
Other overseas
18
18
14
14
19
18
19
28
._
22
23
20
20
25
25
24
1976
1977
1978
1979
NOTE.—Excludes cruise travelers.
Table 8.—U.S. Travelers Overseas
[Thousands]
1973
6,933
.
United Kingdom
France
Italy
--Switzerland
Germany
Austria
Denmark
Sweden
- -
-
- - -
Norway
Netherlands
-B elgium-Luxembourg
Spain
-
.
- -
Other areas
- _ _ .
-
..
Caribbean and Central America
South America
-
-
Portugal
Ireland
..
Greece
- Other Western Europe..
Israel
Other
---
-. -
- -
- - - -
.
7,390
7,790
7,835
8,163
3,523
3,920
4,105
4,068
3,934
3,118
2,990
3,295
3,663
3,914
3,866
3,746
1,334
1,106
897
772
1,227
824
657
544
1,199
809
650
567
1,386
902
665
585
1,559
786
715
620
1,725
882
718
572
1,617
943
718
535
1,580
888
749
529
915
516
274
184
712
335
239
164
733
377
230
150
802
395
214
154
768
359
238
180
765
426
271
213
864
419
206
136
787
420
181
135
170
572
342
784
_ _ .
6,897
3,185
134
352
246
468
135
416
289
370
133
432
290
309
147
317
240
334
165
363
234
524
137
379
257
443
118
395
243
368
332
210
315
260
179
175
226
131
95
191
178
142
57
251
229
140
134
303
257
122
195
296
284
219
195
278
309
167
185
239
284
159
261
496
Western Europe
6,354
3,325
3,720
-- -
6,467
3,915
Total
Europe and Mediterranean
1974
231
430
138
515
264
494
316
489
277
606
258
509
289
497
2,032
2,147
2,065
2,201
2,203
2,365
2,533
2,624
383
423
447
436
483
515
434
594
603
572
657
737
784
805
800
1,011
1975
1980
NOTE.—Excludes cruise travelers.
Source: U.S. Department of Commerce, Bureau of Economic Analysis, based on data from U.S. Department of Justice
Immigration and Naturalization Service.
By NED G. HOWENSTINE
Selected Data on the Operations of U.S. Affiliates
of Foreign Companies, 1978 and 1079
HIS article presents and analyzes
1978 and 1979 data from BEA's annual
sample survey on the operations of U.S.
affiliates of foreign companies.1 It also
presents revised data for 1977. In the
survey, the sample for a given year consists of affiliates—other than banks—
that have total assets, sales, or net income of $5 million or more or that own
200 acres or more of U.S. land in that
year.2 The data presented in this article
cover only affiliates in the sample, i.e.,
they have not been expanded to universe levels. However, in terms of value,
the sample accounts for almost all of the
universe of U.S. affiliates.3
The tables in the article cover affiliates' balance sheets, income statements,
selected financial data by transactor,
landownership, plant and equipment,
NOTE.—The annual survey was conducted
under the supervision of James L. Bomkamp,
Chief, Direct Investment in the United States
Branch, International Investment Division.
Beverly A. Feeser was project leader for editing and processing the survey forms. Richard
Mauery designed the computer programs for
data retrieval and analysis.
1. A U.S. affiliate is a U.S. business enterprise In
which one foreign person has a direct or indirect
voting interest of 10 percent or more. Because foreign owners are usually business enterprises, they
are referred to as "companies," although the legal
term "person" also includes individuals, branches,
partnerships, associations, trusts, corporations,
governments, or government agencies.
2. Balance sheets and related financial data for
U.S. bank affiliates are collected by the Federal
Reserve System. See "Monthly Report of Conditions for U.S. Agencies, Branches, and Domestic
Banking Subsidiaries of Foreign Banks," Board of
Governors of The Federal Reserve System, International Banking Section.
3. The relationship of the sample to the universe
is discussed in Ned G. Howenstine, "Selected Data
on the Operations of U.S. Affiliates of Foreign Companies, 1977," SURVEY OF CURRENT BUSINESS (July
1980), p. 32. Other definitional and methodological
issues, including the relationship of data from the
annual survey to other data on foreign direct investment published by BEA, are also discussed
there.
creases in affiliates' current liabilities
employment, employee compensation,
and long-term debt to U.S. persons
merchandise trade, and research and development expenditures. Highlights
accounted for most of the increase in
from the survey are presented first. The
both years.
remainder of the article focuses on pat- • Sales of U.S. affiliates increased $46.3
terns of growth in employment—one
billion in 1978 and $84.3 billion in
measure of real economic activity of af1979, to $313.3 billion. Affiliates in
filiates.
wholesale trade and manufacturing
Highlights are:
together accounted for about 70 per• Employment of U.S. affiliates incent of the increase in each year.
creased 200,000 (18 percent) in 1978 • Net income of U.S. affiliates increased
and 313,000 (24 percent) in 1979, to
$0.9 billion in 1978 and $2.5 billion in
1,642,000 persons. Growth rates in
1979, to $7.3 billion. In 1978, most of
both years were sharply higher than
the increase was accounted for by affilthe 3-percent compound annual rate
iates in manufacturing and insurance.
of growth in affiliate employment in
In 1979, most of the increase was acthe 1974-77 period.
counted for by affiliates in petroleum
• By country of foreign parent, emand manufacturing.
ployment of German-owned affiliates • Affiliates' merchandise exports ingrew most rapidly in both years.4 By
creased $7.2 billion in 1978 and $11.8
industry, employment of affiliates in
billion in 1979, to $43.0 billion. Exretail trade and real estate grew most
ports to affiliated foreigners accountrapidly, although the high rate for the
ed for two-thirds of the 1978 increase
latter partly reflected a small 1977
and slightly less than one-half of the
base. By U.S. region in which affiliates
1979 increase.
were located, the fastest growth in • Affiliates' merchandise imports inemployment was in the Southwest in
creased $12.2 billion in 1978 and $5.7
1978 and in the Far West in 1979.
billion in 1979, to $59.4 billion. Im• In manufacturing, hourly wage rates
ports from affiliated foreigners acof production workers increased 8
counted for 67 percent of the 1978 inpercent in 1978 and 15 percent in 1979,
crease and for over 93 percent of the
to $7.21.
1979 increase.
• Total assets of U.S. affiliates in- • Affiliates' expenditures for new plant
creased $35.6 billion in 1978 and $44.8
and equipment increased $1.4 billion
billion in 1979, to $214.2 billion. Net
in 1978 and $1.7 billion in 1979, to
fixed assets accounted for almost one$10.1 billion. Manufacturing affilifourth of the 1978 increase and almost
ates' expenditures increased $0.9 bilone-third of the 1979 increase. At
lion in 1978 and $1.1 billion in 1979,
yearend 1979, affiliates' net fixed asto $4.5 billion.
sets were $64.8 billion.
• Affiliates' research and development
• Total liabilities of U.S. affiliates inexpenditures increased $270 million
creased $27.3 billion in 1978 and $32.7
in 1978 and $357 million in 1979, to
billion in 1979, to $152.7 billion. In$1,533 million. Most of the increase in
both years was accounted for by
4. The foreign parent is the first foreign person
manufacturing affiliates.
in the ownership chain of the U.S. affiliate.
35
SURVEY OF CURRENT BUSINESS
36
• Affiliates' ownership of land and
mineral rights increased 499,000 and
623,000 acres, respectively,' in 1978
and 1979, to 7,162,000 acres. Of this
total, 2,146,000 acres (30 percent)
were located in the Southeast.
• Affiliates' ownership of agricultural
land increased 340,000 and 411,000
acres, respectively, in 1978 and 1979,
to 4,504,000 acres. A substantial portion of the agricultural land is timberland.
The remainder of this article discusses patterns of growth by country of
foreign parent, by industry of affiliate,
and by U.S. region and State in which
affiliates are located, as measured by employment. A single measure of growth
was chosen in order to simplify the exposition. Of the items collected in the
survey, employment was chosen because
it is not directly affected by inflation.
Other measures may show different
growth patterns. For example, based on
employment, affiliates with parents in
Germany grew fastest between 1977 and
1979, while based on total assets, affiliates with parents in Switzerland grew
fastest. Similarly, by industry, the fastest growth based on employment was in
real estate, while based on total assets
it was in finance, except banking.
May 1981
Table 1.—Employment of U.S. Affiliates, 1977-79 ]
1977
1978
1979
Change from preceding period
1978
1979
Number
1978
1979
Percent
1,128,793
1,329,185
1,642,130
200,392
312,945
18
24
975, 728
157, 550
62, 108
121, 224
186, 783
239, 566
80,525
63,547
64,425
153,065
144,086
8,979
1, 171, 382
174, 602
67, 818
169, 947
227, 299
272, 752
100,919
79,470
78, 575
157, 803
147, 886
9,917
1,460,123
189,888
93,028
288,097
259, 434
312, 846
126,009
95, 313
95,508
182,007
173, 887
8,120
195,654
17,052
5,710
48, 723
40,516
33,186
20,394
15, 923
14,150
4,738
3,800
938
288,741
15,286
25, 210
118, 150
32, 135
40,094
25,090
15, 843
16, 933
24,204
26,001
-1,797
20
11
9
40
22
14
25
25
22
3
3
10
25
9
37
70
14
15
25
20
22
15
18
-18
7,676
14, 863
86, 838
639, 438
78, 929
14,743
182, 457
135, 919
24, 269
22, 269
61, 539
19, 430
49, 574
88,087
144, 679
7,495
17,240
95, 488
735, 370
92,638
14, 371
197, 853
144, 907
29,204
23, 742
52, 511
25,093
64,126
104, 054
184, 724
8,327
18, 772
106, 840
917, 693
116, 997
19, 616
232, 425
172, 265
33, 102
27, 058
66, 866
36, 752
84,769
121, 251
239,017
-181
2,377
8,650
95, 932
13, 709
-372
15, 396
8,988
4,935
1,473
-9,028
5,663
14, 552
15, 967
40,045
832
1,532
11, 352
182, 323
24,359
5,245
34, 572
27, 358
3,898
3,316
14, 355
11,659
20,643
17, 197
54,293
-2
16
10
15
17
-3
8
7
20
7
-15
29
29
18
28
11
9
12
25
26
37
18
19
13
14
27
47
32
17
29
"Wholesale trade
Motor vehicles and equipment Metals and minerals
Farm product raw materials
Other
137, 392
21, 358
18, 679
24,355
73,000
160, 420
26, 482
18, 216
24,944
90,778
174, 191
25, 849
21, 229
28, 833
98,280
23,028
5,124
-463
589
17, 778
13, 771
-633
3,013
3,889
7,502
17
24
-3
2
24
9
-2
17
16
8
Retail trade
Finance except banking
- - Insurance
Real estate and combined offices _
Other
--- - --- - - -
129,097
8,090
34, 821
6,265
64,313
161,897
8,134
39,247
8,991
94,903
226, 756
10, 106
45, 235
19, 695
114, 515
32,800
44
4,426
2,726
30,590
64,859
1,972
5,988
10,704
19, 612
25
1
13
44
48
40
24
15
119
21
Total
By country
Developed countries _Canada
-- .
France
Germany
Netherlands
United Kingdom
Switzerland
Japan
Other
Developing countries
Latin America
Other
..
-
-
- -
- -
By industry
Agriculture and forestry 3 _ . Mining
Petroleum
^Manufacturing
Food and kindred products
Paper and allied products
Chemicals and allied products .
Industrial
Drugs
-Other
Primary metal industries
Fabricated metal products
Machinery except electrical
Electric and electronic equipment
Other
-
- -
-- -
- -
.
-
1. Employment is the average number of full-time and part-time employees.
2. Excludes banks.
3. Fisheries are included in "other".
Growth in Employment
for by affiliates remained virtually unchanged at about 2 percent.
Several factors contributed to the acEmployment of U.S. affiliates increased 18 percent in 1978 and 24 per- celeration in affiliate growth. First, the
cent in 1979 (table 1). The growth rates cumulative effect of the substantial dewere sharply higher than the 3-percent preciation of the U.S. dollar against sevcompound annual rate for 1974-77.5 Al- eral major foreign currencies since 1971
had, by 1978, significantly reduced the
though the rate of growth in employforeign currency cost of acquiring U.S.
ment of all nonbank U.S. businesses also companies, establishing new U.S. affiliincreased—from a 2-percent annual ates, and expanding existing affiliates. It
rate in 1974-77 to 5 percent in 1978 and also increased the U.S. dollar cost of
4 percent in 1979, the acceleration of these foreign countries' exports to the
growth in affiliate employment was United States, thus making production
much sharper.6 However, the share of in the United States a relatively more
all U.S. business employment accounted attractive means of serving U.S. markets. Second, growth in foreign invest5. The 1974-77 growth rates for employment and
ment in the United States during 1974-
Acceleration in growth since 1974-77
other key items were presented in Howenstine, "Selected Data," p. 42.
6. The growth rates for all nonbank U.S. businesses are based on data from National Income and
Product Tables, 1976-79, U.S. Department of Commerce, Bureau of Economic Analysis, and The National Income and Products Accounts of the United
States, 1929-76: Statistical Tables, U.S. Department of Commerce, Bureau of Economic Analysis.
To improve comparability, data covering private
households, government and government enterprises, and banking were excluded from the total
for all domestic industries.
77 was probably dampened by poor economic conditions both in the United
States and abroad in 1975 and by uncertainty about the economic consequences
of the first round of sharp petroleum
price increases, which occurred in 197374. In 1978-79, on the other hand, economic conditions were generally good
and, while petroleum prices again increased sharply, there was less concern
that major economic disruptions would
result. Third, in 1978-79, unlike in 197477, many potential foreign investors
were relatively more optimistic about
future economic conditions in the
United States than in most foreign
countries. The United States appeared
to be generally less vulnerable to energy
supply disruptions and less likely to undergo major political and economic
changes than other countries, where instability had heightened.
May 1 8
91
A fourth factor, which is specific to
the acceleration in the growth of affiliate employment, was a shift in industry
mix. In 1978 and 1979, growth was concentrated in industries that were more
labor intensive than those in which
growth was concentrated in 1974-77.
The shift is indicated by sharp differences between these periods in the ratio
of the change in employment to the
change in fixed assets. In 1974-77, for
each $1 million increase in fixed assets,
employment increased by 6 persons. In
1978 and 1979, the ratios were much
higher—24 and 22, respectively. Compared with 1974-77, a-relatively small
portion of affiliate growth in 1978 was
in petroleum and chemical manufacturing, industries with low labor intensities, and a relatively large portion was
in retail trade and transportation
equipment manufacturing, industries
with high labor intensities. In 1979,
growth was less concentrated than in
1974-77 in chemical manufacturing and
more concentrated in electrical machinery manufacturing, transportation
equipment manufacturing, and insurance.7 (This increase in labor intensiveness also largely explains why employment grew five times as fast in 1978 and
1979 as in 1974-77 but total assets grew
only twice as fast. The growth rate of
assets increased from a 13-percent annual rate in 1974-77 to a 27-percent rate
in both 1978 and 1979 (table 2).)
SURVEY OF CURRENT BUSINESS
Table 2.—Total Assets of U.S. Affiliates at Yearend, 1977-79
Change from preceding period
1977
1978
1979
1978
1979
Millions of dollars
1978
1979
Percent
133,792
169,373
214, 190
35,581
44,817
27
27
120,508
19,856
10, 353
10, 589
29,461
19, 415
7,425
15, 621
7,788
13, 284
11, 895
1,389
154, 462
22, 915
12, 556
14,823
36, 995
24, 168
13, 327
20,707
8,970
14, 911
13, 168
1,743
194, 783
26, 325
14, 436
21, 796
51, 754
29,545
16, 782
22, 721
11, 424
19,407
17, 455
1,951
33,954
3,059
2,204
4,235
7,534
4,753
5,903
5,085
1,181
1,627
1,273
354
40,321
3,409
1,880
6,972
14, 759
5,377
3,454
2,015
2,455
4,496
4,288
208
28
15
21
40
26
25
80
33
15
12
11
26
26
15
15
47
40
22
26
10
27
30
33
12
Agriculture and forestry 2 _
...
Mining
- - Petroleum
Manufacturing
Food and kindred products - .
Paper and allied products
.... _
Chemicals and allied products
Industrial
Drugs
Other
--Primary metal industries Fabricated metal products
Machinery except electrical
Electric and electronic equipment
Other
. -_-
846
3,397
25, 015
39, 091
4,631
1,257
14, 295
10, 119
2,077
2,100
4,606
1,087
3,125
3,530
6,560
961
3, 706
29, 237
48,041
5,996
1,554
16,238
11,640
2,187
2,411
4,638
1,473
4,112
4,653
9,377
1,153
4,067
38, 627
61, 937
7,205
1,907
19, 470
14,044
2,579
2,848
5,790
2,118
5,524
5,979
13,943
115
309
4,222
8,951
1,366
296
1,943
1,521
111
311
32
386
987
1,123
2,818
192
361
9,391
13, 896
1,209
353
3,232
2,404
391
437
1,152
645
1,412
1,326
4,565
14
9
17
23
30
24
14
15
5
15
1
36
32
32
43
20
10
32
29
20
23
20
21
18
18
25
44
34
29
49
Wholesale trade
Motor vehicles and equipment
Metals and minerals
Farm product raw materials
Other
27, 735
5,366
7,114
6,075
9,181
34,777
7,501
8,149
6,774
12,352
41,849
6,871
11,515
8,905
14, 559
7,041
2,136
1,035
699
3,171
7,073
-631
3,366
2,131
2,206
25
40
15
12
35
20'
-8
41
32
18
3,447
8,926
16, 859
4,604
3,872
5,145
15, 776
20,198
5, 842
5,691
6,831
16, 227
26, 925
9,373
7,200
1,699
6,850
3,340
1,238
1,818
1,686
451
6,727
3,531
1,509
49
77
20
27
47
33
3
33
60
27
Total
By country
Developed countries
C anad a
France
Germany
Netherlands
United Kingdom
Switzerland
Japan
Other
Developing countries
Latin America
Other
- - -
-
-
......
By industry
- -
Retail trade
Finance except banking
Insurance
.._.
Real estate and combined offices
Other
---
1. Excludes banks.
2. Fisheries are included in "other."
tributable to acquisitions of U.S. business enterprises, several of which were
very large.8 Thus, care must be taken in
Growth in 1978 and 1979
analyzing affiliate growth rates, because
Year-to-year changes in affiliate ema high rate for a given country, indusployment occur for a number of reasons: try, State, or region may be more a con(1) existing affiliates may become larger sequence of one of these large acquisiby acquiring other U.S. businesses, es- tions than an indication of any fundatablishing new operations, or expanding mental change in the pattern of employtheir current operations; (2) new affili- ment. Some of the acquisitions were by
ates that meet the reporting require- parents in countries with little previous
ments for the annual survey may be ac- investment or occurred in industries,
quired or established; (3) all or a por- States, or regions where previous investtion of a given affiliate's operations may ment was small, so that the percentage
be liquidated or sold; or (4) affiliates
8. For preliminary data from a new BEA survey
acquired
established in
may rise above (fall below) the exemp- on U.S. businesses newlyInvestmentorDivision, "U.S.
1979, see International
Business Enterprises Acquired or Established by
tion level for the survey.
Foreign Direct Investors in 1979," SURVEY (JanuA significant portion of the growth in ary 1981), p. 28. Although differences in coverage
this
affiliate employment in 1978-79 was at- hamper comparisons of data in rough article, with
those in the January article, a
comparison
7. These comparisons are rough because the data
by industry cannot be adjusted completely for differences in coverage and definitions between the
1974 and 1977 surveys.
37
indicates that approximately three-fourths of the
increase in affiliate employment in 1979 was attributable to new acquisitions by foreign direct investors or their U.S. affiliates. See the technical
note for a discussion of the differences in coverage.
increases in employment were large only
because they were from a small base.
Thus, even though growth rates were
very high in some instances, the distribution of affiliate employment in 1979
was, with a few exceptions, about the
same as in 1977.
Affiliates with parents in the United
Kingdom, Germany, the Netherlands,
and Canada accounted for the four
largest shares of total employment in
both 1977 and 1979 (table 3, chart 8).
Similarly, by industry, affiliates in
manufacturing, wholesale trade, and retail trade accounted for the three largest shares of total employment in both
years. (However, the ranking of some
of these countries and industries relative to each other changed, as noted
below.) In addition, there was no
change from 1977 to 1979 in the ranking of the regions of the United States,
or of the six largest States—California,
SURVEY OF CURRENT BUSINESS
38
Table 3.—Percent Distribution of
Employment of U.S. Affiliates, 1977-791
[Percent]
1979
1977
1978
100.0
14.0
5.5
10.7
16.5
21.2
7.1
5.6
5.7
12.8
.8
100.0
13.1
5.1
12.8
17.1
20.5
7.6
6.0
5.9
11.1
.7
100.0
11.6
5.7
17.5
15.8
19.1
7.7
5.8
5.8
10.6
.5
100.0
Total
_
Petroleum
7.7
Manufacturing
7.0
Food and kindred products
Chemicals and allied products. . 16.2
Primary metal industries
5.5
Fabricated metal products
1.7
Machinery, except electrical
4.4
Electric and electronic equipment
7.8
Other?
14.1
12.2
Wholesale trade.
_
Retail trade
11.4
Other 3 _ __
12.1
100.0
7.2
100.0
6.5
7.0
14.9
4.0
1.9
4.8
7.1
14.2
4.1
2.2
5.2
7.8
14.9
12.1
12.2
13.3
7.4
15.8
10.6
13.8
13.2
100.0
57
24.2
19.3
50
22.4
7.2
1.7
12.3
2.1
100.0
56
23.6
18.8
51
22.2
7.7
1.7
13.2
2.0
By country
Total
Canada
France
Germany . _
Netherlands
United Kingdom
Switzerland
Japan.. _ _ _ _ _
Other developed
Latin America
Other developing
_
_
By industry
By U.S. region
Total
New England
Mideast
Great Lakes. ._ _
Plains
Southeast
Southwest
Rocky Mountains
Far West .
Other*
__
__
_ _ _
100.0
6.2
24.9
19.6
4.9
21.6
6.8
1.7
11.6
2.8
1. Excludes banks.
2. Includes paper and allied products.
3. Includes agriculture and forestry; mining; finance,
except banking; insurance; and real estate and combined
offices
4. Consists of Alaska, Hawaii, Puerto Rico, other territories and offshore, and "foreign", i.e., employees of U.S.
affiliates working aborad.
New York, New Jersey, Illinois, Texas,
and Pennsylvania—based on the number of employees located in them (table
4).
By country of foreign parent.—Employment of affiliates with parents in
the developed countries increased 20
percent in 1978 and 25 percent in 1979.
These increases accounted for 98 percent of the total increase in affiliate employment in 1978 and 92 percent of that
in 1979. In both years, three-fifths of
the total increase was accounted for by
affiliates with parents in three countries—Germany, the Netherlands, and
the United Kingdom.
Growth in both years was by far the
most rapid for affiliates with parents in
Germany; in 1978, their employment
increased 40 percent, and in 1979, 70
percent, to 288,000. Reflecting this rapid
growth, German-owned affiliates, which
were the fourth largest employer in
1977, became the second largest in 1979.
May 1981
In 1978, the increase in employment of IHHBBH^HHHBBHHH CHART 8
German-owned affiliates was largely in Percent Distribution of Employment
manufacturing and wholesale trade. of U.S. Affiliates1,1977-79
Within manufacturing, it was mainly
Percent
due to the acquisition of a major U.S.
10
15
20
25
producer of automobile and truck parts,
and expansion of chemical affiliates' secondary operations in oil and gas production, mining, and retail trade. In wholesale trade, the increase reflected the acquisition of a grocery wholesaler and
the start-up of an automobile importer's
secondary operation in automobile assembly. (In 1979, because of further expansion, the assembly operation became
the major activity of this affiliate; accordingly, the 1979 data for the affiliate
are shown in manufacturing rather than
in wholesale trade.) 9
In 1979, virtually all of the increase
in the employment of German-owned
affiliates was in retail trade and manufacturing. In retail trade, the increase
largely resulted from the acquisition of
a major U.S. grocery store chain. In
manufacturing, the largest increases
were in industrial chemicals, where, as
in 1978, growth partly represented expansion of affiliates' secondary operations, and in transportation equipment,
where a German investment bank acquired a minority interest in a large
manufacturer of general aviation aircraft. Growth in transportation equipment also reflected the aforementioned
shift in classification of an affiliate from
motor vehicle wholesale trade in 1978 to
manufacturing in 1979.
Employment of British-owned affiliates increased 14 percent in 1978 and 15
percent in 1979, to 313,000. In 1978,
growth was largely in retail trade and
manufacturing, especially fabricated
metal products and chemicals. In 1979,
growth was mainly in wholesale trade,
retail trade, and manufacturing, especially nonelectrical machinery and fabricated metal products.
9. Affiliates are required to report on a consolidated basis, and the report for such a consolidated
enterprise may cover operations in more than one
industry. When this is the case, the enterprise is
classified in the single industry in which its sales
are largest. Year-to-year changes in classification
occur when the industrial distribution of the enterprise's sales changes significantly, as is often the
case when part of an affiliate's operations are expanded or a new enterprise is included in the
consolidation.
Footnotes are the same as table 3.
U.S. Department of Commerce, Bureau of Economic Analysis
May 1981
Employment of Dutch-owned affiliates increased 22 percent in 19Y8 and 14
percent in 1979, to 259,000. The 1978 increase was largely in retail trade and
manufacturing, especially nonelectrical
machinery and food. The 1979 increase
was largely in manufacturing, mainly
stone, clay, and cement and printing
and publishing, and in insurance.
By industry of affiliate.—Affiliates in
two industries—manufacturing and retail trade—accounted for a substantial
portion of employment growth in both
1978 and 1979. In manufacturing, employment increased 15 percent in 1978
and 25 percent in 1979, to 918,000. In
retail trade, it increased 25 percent in
1978 and 40 percent in 1979, to 227,000.
As a result of the rapid growth in retail
trade, employment in this industry surpassed that in wholesale trade in 1979
(table 3, chart 8).
Within manufacturing, employment
grew most rapidly in both years in fabricated metal products, nonelectrical machinery, and "other." In 1978, employment in each of these industries increased almost 30 percent. In 1979, it
increased faster—47 percent—in fabricated metals and at about the same rate
in each of the other two. In "other," the
growth was largely attributable to affiliates in transportation equipment.10
In nonelectrical machinery, part of
the 1978 increase was accounted for by a
large Dutch-owned affiliate. This affiliate, which was classified in fabricated
metal products in 1977, acquired a large
U.S. manufacturer of construction machinery and, as a result, the major
activity of the entire affiliate shifted to
nonelectrical machinery manufacturing
in 1978. Other large increases in this
industry resulted from the acquisition
of an automobile parts manufacturer
by a German company and the expansion of the computer manufacturing
operations of a Japanese-owned affiliate. The 1979 increase primarily reflected acquisitions of an office machine
10. Employment in transportation equipment increased from 2,000 in 1977 to 57,000 in 1979. This
industry is not shown separately in the tables because it is highly concentrated ; as a result, a large
portion of the data shown in the tables would have
had to be suppressed under the confidentiality provisions of the International Investment Survey
Act.
SURVEY OF CURRENT BUSINESS
manufacturer by a British company, a
computer manufacturer by a German
company, and machine tool and elevator
manufacturers by Swiss companies.
In transportation equipment manufacturing, growth largely reflected several previously mentioned transactions
involving German-owned affiliates.
These transactions included acquisitions of an automobile and truck parts
39
manufacturer in 1978 and a minority interest in an aircraft manufacturer in
1979, and, in both years, the expansion
of the automobile assembly operations
of a large automobile importer (which
resulted in a shift in industry classification). The 1979 increase also reflected
the acquisition of a minority interest in
a major U.S. truck manufacturer by a
French company.
Table 4.—Employment of U.S. Affiliates, 1977-79, by Region and State * 2
1977
1978
1979
Change from preceding period
1978
1979
Number
Total
1978
1979
Percent
1,128,793
1,329,185
1,642,130
200,392
312,945
18
24
70, 120
21, 540
4,706
27, 429
8,558
3,542
4,345
75,241
26, 567
3,795
27, 412
9,273
4,477
3,717
92,076
29,799
5,618
37,303
10, 195
4,768
4,393
5,121
5,027
-911
-17
715
935
-628
16,835
3,232
1,823
9,891
922
291
676
7
23
-19
(*)
8
26
-15
22
12
48
36
10
7
18
Mideast
Delaware
District of Columbia. .-. . .
Maryland
New Jersey . . .
New York.
Pennsylvania
...
280,867
4,942
1,268
20, 419
80, 495
113, 103
60,640
322,276
5,027
1,538
24, 331
92, 398
127, 127
71, 855
388, 116
7,688
1,805
37, 290
105, 187
139, 930
96, 216
41,409
85
270
3,912
11,903
14, 024
11,215
65,840
2,661
267
12, 959
12, 789
12,803
24, 361
15
2
21
19
15
12
19
20
53
17
53
14
10
34
Great Lakes
Illinois
Indiana
Michigan.
Ohio
Wisconsin.
. ...
221,385
69, 635
29,297
40,038
53,760
28, 655
256,557
73,047
35, 312
48, 237
64,847
35, 114
308,367
98,945
39, 793
55, 359
70,464
43, 806
35, 172
3,412
6,015
8,199
11,087
6,459
51,810
25,898
4,481
7,122
5,617
8,692
16
5
21
21
21
23
20
36
13
15
9
25
Plains
Iowa
Kansas.
... .. .
Minnesota
.. ... .
Missouri
..
Nebraska .
North Dakota
South Dak ota..-. ... .
55,274
8,866
6,424
16,734
18,013
3,285
1,259
693
66, 175
10, 565
8,402
19, 324
21, 384
3,615
2,034
851
82,929
16,017
10, 471
23, 793
25, 229
4,473
1,949
997
10,901
1,699
1,978
2,590
3,371
330
775
158
16,754
5,452
2,069
4,469
3,845
858
-85
146
20
19
31
16
19
10
62
23
25
52
25
23
18
24
-4
17
Southeast
Alabama..
. . ..
Arkansas
Florida
- . ...
Georgia
-_...-.
Kentucky
.
Louisiana .
Mississippi
North Carolina
......
South Carolina
Tennessee
Virginia
West Virginia
.
244,321
14, 108
8,480
26, 347
28, 824
14, 668
17, 769
5,377
42,603
28, 476
25,490
22, 291
9,888
297,085
15, 813
12,082
29, 945
39, 570
15, 829
26, 223
7,903
45, 556
39, 338
29, 025
24, 102
11, 699
364, 691
18, 091
12, 925
41, 894
52, 674
18, 338
32,388
8,105
54, 156
45, 189
36,546
30, 516
13, 869
52,764
1,705
3,602
3,598
10, 746
1,161
8,454
2,526
2,953
10, 862
3,535
1,811
1,811
67,606
2,278
843
11, 949
13, 104
2,509
6,165
202
8,600
5,851
7,521
6,414
2,170
22
12
43
14
37
8
48
47
7
38
14
8
18
23
14
7
40
33
16
24
3
19
15
26
27
19
. ... .
76,306
6,038
1,557
6,558
62, 153
96,011
7,923
2,276
10, 237
75, 575
126, 385
11,743
4,274
13, 593
96, 775
19,705
1,885
719
3,679
13, 422
30,374
3,820
1,998
3,356
21,200
26
31
46
56
' 22
32
48
88
33
28
_. . .
19,354
9,324
1,685
1,286
5,194
1,865
22,778
11, 362
2,117
915
6,301
2,083
28,636
14, 665
3,157
1,158
7,301
2,355
3,424
2,038
432
-371
1,107
218
5,858
3,303
1,040
243
1,000
272
18
22
26
-29
21
12
26
29
49
27
16
13
130, 690
113, 332
1,654
4,661
11,043
163,362
142, 152
2,169
5,142
13, 899
216,560
189, 465
3,011
7,868
16, 216
32,672
28,820
515
481
2,856
53,198
47, 313
842
2,726
2,317
25
25
31
10
26
33
33
39
53
17
4,453
9,376
8,588
7,494
565
5,290
9,818
9,790
(D)
(D)
8,703
12,018
9,275
3,724
650
837
442
1,202
(D)
(D)
3,413
2,200
-515
(D)
(D)
19
5
14
(D)
(D)
65
22
-5
(D)
(D)
New England ...
Connecticut
Maine
Massachusetts _
New Hampshire
Rhode Island
Vermont
.
...
_
South west
Arizona .
New Mexico
Oklahoma . ..
Texas .
. .
.
Rocky Mountains
Colorado
Idaho
Montana
Utah
Wyoming
.
Far West
California
Nevada .
Oregon
Washington
- - . - .
... .
Alaska
Hawaii
Puerto Rico
Other territories and offshore
Foreign 3
*
D
.
Less than 0.5 percent (±).
Suppressed to avoid disclosure of data of individual companies.
1. Employment is the average number of full-time and part-time employees for the year.
2. Excludes banks.
3. Refers to employees of U.S. affiliates working abroad.
SURVEY OF CURRENT BUSINESS
40
In fabricated metals manufacturing,
the rapid growth was from a relatively
small 1977 base (19,000 employees). The
growth was mainly attributable to acquisitions by British companies or their
affiliates. The 1978 growth may partly
reflect an acquisition made earlier. One
affiliate that began reporting in 1978
was, apparently, foreign owned in 1977
but did not file a report for that year
because it was unaware of BEA's reporting requirements.
The growth in employment of chemical affiliates, which accounted for the
largest share of manufacturing affiliates'
employment, was much slower than that
in the three industries just discussed—8
percent in 1978 and 18 percent in 1979.
Growth in chemicals may have been
slower because, by 1977, many of the
large foreign-based chemical companies
already had substantial U.S. operations.
(In 1977, employment of affiliates in the
sample accounted for about 17 percent
of all U.S. employment in chemicals.)
Because chemical manufacturing requires relatively small amounts of labor,
historically high U.S. wage rates did
not deter investment in that industry to
the same degree as in other industries.
In contrast, the U.S. operations of foreign-based companies in the three manufacturing industries mentioned above,
which are more labor intensive, have
been comparatively small. In the past,
foreign companies in these industries
probably found it more economical to
serve U.S. markets through exports than
to produce in the United States. Recently, however, U.S. wage rates have
compared more favorably with those in
foreign countries, partly because of the
depreciation of the U.S. dollar. The depreciation has also made it less advantageous to export to the United States.
In retail trade, the rapid growth in
Table 5.—Employment of U.S. Affiliates, 1977-79
May 1981
1978 reflected the acquisitions of two regional grocery store chains and a department store chain. One of the grocery
store chains was acquired by a Britishowned affiliate; the other and the department store chain were acquired by Dutch
companies. In 1979, growth in retail
trade primarily reflected the acquisition
of a major national grocery store chain
by a German company. Foreign retail
trade companies, unlike companies in
other industries that are able to export
to the United States, must locate here in
order to sell U.S. retail markets. In addition, stock market prices of some U.S.
retailers have been low, partly reflecting the relatively low profitability of
many of these companies. The low stock
market prices may have induced large
European retailers, who have accounted
for most of the acquisitions, to purchase
these companies. The European retailers
apparently believed that they could im12
[Number]
Developed countries
All
areas
Total
Canada
France
Germany Netherlands
Developing countries
United Switzerland
Kingdom
Japan
Other
Total
Latin
America
Other
1977
AH industries
Agriculture and forestry 3
Mining
Petroleum
M anuf acturing
Wholesale trade
Retail trade
Finance, except banking
Insurance
Real estate and combined offices
Other
1,128,793
7,676
14, 863
86,838
639, 438
137, 392
129, 097
8,090
34, 821
6,265
64, 313
975, 728
2,692
(D)
72,082
551, 331
126, 770
113, 532
7,955
D
(D)
( )
54,292
157,550
(D)
7,646
6,650
84,687
13, 549
(D)
372
4,761
D
( )
15, 369
62,108
D
(D )
(D )
( )
39, 622
16, 179
(D)
(D)
(D)
D o
()
121,224
84
(D)
D
( )
95, 507
17, 250
(D)
143
229
0
651
186,783
(D)
(D)
(D)
106, 997
8,072
D
(D)
(D)
( )
700
3,332
239,566
497
(D)
1,321
126, 100
15,890
(D)
2,095
18, 984
327
(D)
80,525
188
D
(D)
( )
49, 434
6,803
D
( D)
( D)
(D)
( )
6,286
63,547
(D)
0
46
17, 120
35, 977
964
276
(D)
325
8,507
64,425
D
(D )
(D)
( )
31,864
13,050
6,757
33
270
79
5,742
153,06?
4,984
(D)
14, 756
88, 107
10, 622
15,565
135
(D)
D
( )
10, 021
144,086
(D)
(D)
14, 756
(D)
9,933
100,919
(D)
0
(D)
67, 662
10,225
(D)
(D)
(D)
(D)
3,898
79,470
(D)
0
58
25,459
41, 994
1,043
276
(D)
496
9,820
78,575
(D)
(D)
4,706
35, 014
13, 614
7,866
71
321
D
( )
15,576
157,803
(D)
(D)
15, 931
86, 141
13,012
17, 992
153
(D)
684
13,964
147,886
(D)
(D)
15, 931
80, 849
12, 190
(D)
(D)
(D)
(D)
12,522
126,009
95,313
95,508
(D)
(D)
4,783
48,871
13, 386
7,625
176
370
(D)
18, 021
182,007
2,905
0
(D)
93, 986
15,410
19, 921
158
(D)
908
13,035
173,887
(D)
0
D
(D)
( )
14,085
(D)
(D)
(D)
(D)
11,433
8
8
8,404
8.979
(D)
(D)
(D)
(D)
(D)
o
0
689
409
1,617
1978
All industries
Agriculture and forestry 3
Mining
Petroleum - _ _
Manufacturing.__ _
Wholesale trade
Retail trade
Finance, except banking
Insurance
Real estate and combined offices
Other
-
1, 329, 185
7,495
17, 240
95,488
735, 370
160, 420
_.
161, 897
8,134
39, 247
8,991
94, 903
1,171,382
(D)
(D)
79, 557
649,229
147, 408
143, 905
7,981
(D)
8,307
80, 939
174, 602
(D)
8,964
(D)
95, 205
12, 953
(D)
381
5,014
4,661
16, 491
67,818
(D)
(D)
(D)
41,011
17, 596
(D)
(D)
(D)
0
(D)
169,947
816
(D)
D
( )
123, 188
26, 513
(D)
151
601
D
( )
7,615
227,299
(D)
6,022
(D)
127, 521
9,434
14,839
114
(D)
2,224
(D)
272,752
524
426
4,306
134, 169
15, 079
(D)
378
21, 134
847
(D)
9,917
0
5,292
822
(D)
(D)
(D)
(D)
1,442
1979
All industries
Agriculture and forestry 3
Mining
Petroleum
Manufacturing
Wholesale trade
Retail trade
Finance, except banking
Insurance
Real estate and combined offices
Other
D
1, 642, 130
8,327
18, 772
106, 840
917, 693
174, 191
226,756
10,106
45, 235
19, 695
114,515
1,460,123
5,422
18,772
(D)
823, 707
158, 781
206, 835
9,948
(D)
18, 787
101, 480
189,888
(°)
9,895
7,495
93,045
13, 921
(D)
417
4,814
13, 713
(D)
Suppressed to avoid disclosure of data of individual companies.
1. Employment is the average number of full-time and part-time employees.
2. Excludes banks.
3. Fisheries are included in "other."
93,028
0
634
(D)
62, 346
19, 988
898
(D)
199
(D)
1,532
288,097
1,172
712
(D)
177, 998
14, 995
<*»
(D>
(°)
6
259,434
(D)
(D)
(D)
153, 954
11,052
(D)
(D)
(D)
3,213
3,027
312,846
639
519
3,227
153, 962
27,846
(D)
1,874
19, 299
793
(D)
(D)
(D)
o
99,104
10,905
4,266
D
(D)
( )
33
(D)
(D)
o
75
34, 427
46,688
1,201
270
(D)
804
11, 670
8,120
(D)
o
0
(D)
1,325
(D)
(D)
D
(D )
( )
1,602
SUEVEY OF CURRENT BUSINESS
May 1981
prove the profitability of the acquired
companies by applying their own technological, managerial, and marketing
expertise.
Among the other major industries
shown in table 1, growth rates in real
estate were especially high in both
years—44 percent in 1978 and 119 percent in 1979. This rapid growth was
from a relatively small 1977 base (6,000
employees).
By U.S. region and State.—Among
regions, employment grew rapidly in
both years in the Far West—25 percent
in 1978 and 33 percent in 1979, to
217,000 (table 4). Growth there was
particularly strong in manufacturing
and nonfmancial services in 1978 and in
petroleum, manufacturing, retail trade,
and real estate in 1979. Employment
also grew rapidly in both years in the
Southwest and the Plains. In the South-
41
west, employment increased 26 percent large acquisitions in 1978-79, particuin 1978 and 32 percent in 1979, to larly in States where the 1977 base was
126,000; growth was particularly strong small; they are not likely to be indicain retail trade, wholesale trade, con- tive of longer term trends.
struction, and real estate in 1978 and in
States in which employment was largmanufacturing, retail trade, and non- est were California, New York, New
financial services in 1979. In the Plains, Jersey, Illinois, Texas, and Pennsylvawhere employment increased 20 percent nia. Growth rates were particularly high
in 1978 and 25 percent in 1979, to 83,000, in both years in California and Texas.
rapid growth occurred in manufactur- In California, employment increased 25
ing and wholesale trade in 1978 and in percent in 1978 and 33 percent in 1979, to
retail trade and manufacturing in 1979. 189,000; the growth was largely in manEmployment growth rates varied ufacturing and nonfinancial services in
considerably among States and often 1978 and in petroleum, manufacturing,
for the same State in different years. In retail trade, and real estate in 1979. In
1978, they ranged from a 62-percent in- Texas, where employment increased 22
crease in North Dakota to a 29-percent percent in 1978 and 28 percent in 1979, to
decline in Montana; in 1979, they 97,000, growth was largely in manufacranged from an 88-percent increase in turing, retail trade, and construction in
New Mexico to a 4-percent decline in 1978 and in manufacturing, retail trade,
North Dakota. These wide ranges and nonfinancial services in 1979.
largely reflected the impact of a few
Text continued on page 52
Table 6.—Total Assets of U.S. Affiliates at Yearend, 1977-791
[Millions of dollars]
Developed countries
All
areas
Total
Canada
France
Developing countries
United SwitzerGermany Netherlands
Kingdom
land
Japan
Other
Total
Latin
America
Other
1977
133,792
All industries
Agriculture and forestry 2 Mining
Petroleum . _ _ .
_
._ _
Manufacturing.
_ _
Wholesale trade
Retail trade Finance, except banking
_
_- _
Insurance
Real estate and combined offices
Other
_ .
_.
120,508
19,856
10,353
10,589
846
3,397
25, 015
39,091
27, 735
3,447
8,926
16, 859
4,604
3,872
431
48
1,690
1,708
6,268
1,183
10
82
35
121
23,862
34, 954
25, 542
3,006
8,563
2,818
786
5,815
1,166
15, 621
7,788
13,284
11,895
0
607
1,745
12,097
174
28
1,556
1,993
2,149
170
415
412
2,751
2,129
6,689
2,598
19,069
4,840
2,094
1,153
4,136
2,193
440
364
1,149
0
309
332
256
87
222
770
595
19,415
7,425
75
29,461
44
599
6,662
2,293
86
4,006
999
1,071
76
1,748
340
893
223
41
117
285
651
24,168
13,327
20,707
79
67
1,240
7,630
2,590
48
0
69
5,052
1,363
0
699
2,356
15,646
2,041
5,926
499
2,116
29
337
164
244
1,172
22, 721
1,389
3
0
4
1,980
213
153
211
1,786
1,331
376
454
8,970
14,911
13,168
1,743
180
339
327
1,667
4,139
2,809
562
399
1,667
3,874
2,338
12
0
0
264
471
423
131
1978
169,373
154,462
22,915
12,556
14,823
961
3,706
29, 237
48,041
34, 777
5,145
15, 776
20, 198
5,842
5,691
All industries
Agriculture and forestry 2
.
Mining
Petroleum
Manufacturing
Wholesale trade . _
Retail trade
Finance, except banking
Insurance. _ _
Real estate and combined offices
Other
622
70
1,568
2,101
7,653
1,234
347
837
6,670
1,377
1,057
13
106
88
27,569
43,903
31,968
4,583
15, 377
4,708
3,105
2,585
8,550
3,533
0
346
658
467
579
36,995
1,679
21,323
7,073
2,693
398
370
1,971
401
E?
2,483
2,323
220
1,010
518
120
154
(D)
246
v
1,134
650
546
11,424
19,407
17,455
205
442
3
2,689
4,720
3,749
2,689
483
1979
214, 190
AH industries
2
Agriculture and forestry
Mining
Petroleum
M anuf acturing
Wholesale trade
Retail trade Finance, except banking
Insurance. _
_
Real estate and combined offices
Other
. -
__ _.
_ _ _ _ _
_
D
- -
1,153
4,067
38,627
61, 937
41, 849
6,831
16, 227
26, 925
9,373
7,200
194, 783
712
4,065
35,938
57, 217
38,100
(D)
15, 721
778
7,683
2,448
1,273
7,546
6,322
Suppressed to avoid disclosure of data of individual companies.
1. Excludes banks.
2. Fisheries are included in "other."
26,325
1,864
2,444
7,954
1,349
14,436
21,796
17
137
227
192
12, 433
2,721
1,782
357
2,278
484
1,185
289
4,735
4,038
47
4,895
198
71
51, 754
29,545
16,782
99
108
1,364
9,213
4,505
31
0
28,731
9,146
5,142
307
2,923
2,968
423
6,813
1,671
129
2,313
6,352
1,566
69
162
0
618
3,310
16, 190
78
203
421
1,286
3,614
2,484
257
1,378
586
198
357
506
1,827
878
430
3
1,951
12
0
0
699
3,050
532
191
315
1, 231
774
596
104
SURVEY OF CURRENT BUSINESS
42
May 1981
Table 7.—Balance Sheet of U.S. Affiliates at Yearend, 1977-79
[Millions of dollars]
Assets
Total
assets =
liabilities and
owners'
equity
Trade
accounts
and
notes
receivable
Liabilities and owners' equity
Liabilities
Other
current
receivables
Inventories
Other
current
assets
Investments 2
Other
noncurrent
assets
Fixed
assets,
net
Total
Trade
accounts
and
notes
payable
Other
current
liabilities
Longterm
debt
Other
noncurrent
liabilities
Owners'
equity
1977
133,792
25,760
3,268
22,366
14,295
17,489
42,239
8,374
92,704
28,757
21, 626
32,764
9,557
41,088
846
3,397
25,015
39, 091
4,631
1,257
86
140
3,012
7,051
895
157
7
26
776
727
46
27
83
297
1,907
9,441
1,499
170
121
87
885
2,457
265
64
50
479
800
2,444
334
(D)
425
2,191
16, 267
14,411
1,391
742
75
175
1,368
2,560
200
(D)
546
1,704
15, 675
22, 916
2,816
792
64
118
3,156
5,890
1,159
101
139
237
1,880
4,922
599
229
309
1,227
9,196
10,090
848
373
34
122
1,442
2,014
209
90
301
1,693
9,340
16, 175
1,815
465
.
14, 295
10, 119
2,077
2,100
1, 958
1,422
258
278
262
187
(D)
D
( )
2,833
1,830
466
537
702
403
160
139
887
684
101
102
6,358
4,820
666
872
1,295
771
(D)
(D)
7,881
5,808
931
1,142
1,606
1,123
(D)
(D)
1,190
714
337
138
4,276
3,345
388
543
810
626
D
(D )
( )
6,414
4,310
1,146
958
Primary metal industries
Fabricated metal products
Machinery, except electricalElectric and electronic equipment _..
Other
4,606
1,087
3,125
3,530
6,560
792
202
813
994
1,239
68
26
42
50
206
1,096
238
1,057
1,134
1,414
244
61
254
148
719
289
(D)
185
177
315
1,934
328
697
803
2,158
183
(D)
77
224
510
2,943
740
1,949
2,005
3,789
738
(D)
545
451
D
( )
522
168
653
693
869
1,527
221
669
571
1,605
157
(D)
83
291
D
( )
1,663
348
1,175
1,525
2,771
Wholesale trade
Motor vehicles and automotive parts
and supplies
Metals and minerals
Farm-product raw materials
Other
27, 735
9,309
878
9,170
2,743
1,571
2,511
1,552
21, 945
12, 212
6,496
2,762
474
5,791
5,366
7,114
6,075
9,181
1,255
2,798
2,074
3,182
159
214
162
342
2,164
1,9971,850
3,160
624
461
749
910
212
850
323
186
626
430
525
930
326
365
392
470
4,318
5,547
5,006
7,074
2,707
3,183
2,381
3,942
1,050
1,526
1,747
2,173
460
780
717
805
101
59
161
153
1,048
1,567
1,069
2,107
Retail trade
Finance, except banking
Insurance
Real estate and combined offices
Other
...
3,447
8,926
16, 859
4,604
3,872
493
3,163
1,387
302
818
34
502
195
47
76
1,128
110
(*)
72
158
445
(D)
4,941
578
(D)
9
2,625
9,017
368
125
1,098
46
195
3,100
1,994
241
(D)
1,123
137
(D)
2,264
7,155
14,044
3,795
2,660
730
(D)
4,731
287
(D)
388
(D)
1,749
569
(D)
979
1,637
2,552
2,836
1,175
167
47
5,013
104
139
1,182
1,771
2,815
809
1,213
All industries
Agriculture and forestry 3
Mining
Petroleum
Manufacturing
Food and kindred products
Paper and allied products
—
Chemicals and allied products
Industrial
Drugs
Other
. ...
1978
169,373
35,885
3,551
27, 764
19,686
21, 716
50,496
10,274
119,963
40, 666
27,561
39,223
12,513
49,410
961
3,706
29, 237
48,041
5,996
1,554
90
210
3,765
8,749
987
181
8
67
705
686
52
62
101
306
1,989
11,507
1,775
182
105
117
1,420
3,098
286
127
45
548
1,288
3,156
565
45
542
2,262
18,883
17,393
1,713
921
69
195
1,187
3,452
618
36
571
2,108
17, 852
29, 055
3,769
925
60
148
4,003
7,828
1,494
115
127
284
2,020
5,913
719
273
345
1,466
9,885
12, 603
1,204
427
38
210
1,944
2,711
352
110
390
1,598
11,384
18, 987
2,228
629
16, 238
11,640
2,187
2,411
2,243
1,622
273
348
268
215
27
27
3,164
2,021
546
596
817
529
130
158
1,234
990
97
146
7,419
5,627
799
992
1,094
635
315
143
8,851
6,517
989
1,346
1,895
1,323
132
440
1,473
1,019
307
146
4,703
3,608
471
624
781
567
78
136
7,386
5,123
1,199
1,065
.
4,638
1,473
4,112
4,653
9,377
910
275
1,057
1,269
1,827
18
59
56
54
118
1,140
354
1,333
1,504
2,055
274
83
332
246
933
177
(D)
224
180
(D)
2,022
412
924
1,008
2,975
97
(D)
186
392
(D)
3,148
1,172
2,677
2,767
5,745
786
224
811
747
1,756
547
(D)
685
813
(D)
1,596
428
1,064
876
2,306
219
(D)
118
332
(D)
1,490
301
1,434
1,885
3,632
Wholesale trade
Motor vehicles and automotive parts
and supplies
- - Metals and minerals
Farm-product raw materials
Other
- -
34, 777
11, 992
1,118
12, 013
3,207
1,782
3,241
1,423
28,080
15,718
8,223
3,585
554
6,697
7,501
8,149
6,774
12, 352
2,050
3,252
2,320
4,370
194
224
262
439
3,338
2,325
1,886
4,464
520
594
933
1,161
142
965
419
257
1,026
400
605
1,211
232
391
349
451
6,161
6,526
5,709
9,684
3,744
3,558
3,054
5,361
1,527
2,026
1,665
3,004
776
861
814
1,132
112
80
176
186
1,341
1,624
1,065
2,668
Retail trade
Finance except banking
Insurance
Real estate and combined offices
Other
5,145
15,776
20, 198
5,842
5,691
594
6,992
1,771
292
1,430
67
558
215
48
79
1,606
7
0
23
211
458
1,976
7,268
1,133
905
37
5,062
9,116
343
338
1,768
57
264
3,702
2,384
615
1,124
1,564
301
344
3,684
13,404
16,531
4,845
3,835
993
4,866
5,764
368
917
544
6,519
1,972
1,085
873
1,834
1,966
2,474
3,218
1,848
313
53
6,321
173
196
1,461
2,372
3,667
997
1,856
All industries- __
3
Agriculture and forestry
_ __
Mining
_ ._
._
Petroleum - . - _
_-.
- --.
M anuf acturing
Food and kindred products- Paper and allied products
- -.
Chemicals and allied products
Industrial
Drugs
. _ _ Other
_ _
- - -
Primary metal industries
Fabricated metal products
Machinery except electrical
Electric and electronic equipment
Other
See footnotes at end of table.
-
SURVEY OF CURKENt BUSINESS
May 1981
43
!
Table 7.—Balance Sheet of U.S. Affiliates at Yearend, 1977-79 —Continued
[Millions of dollars]
Assets
Total
assets =
liabilities and
owners'
equity
Trade
accounts
and
notes
receivable
Liabilities and owners' equity
Liabilities
Other
current
receivables
Other
current
assets
Inventories
Fixed
assets,
net
Investments 2
Other
noncurrent
assets
Trade
accounts
and
notes
payable
Total
Other
current
liabilities
Longterm
debt
Other
noncurrent
liabilities
Owners'
equity
1979
All industries
214, 190
42,633
4,416
35,042
28,516
26,000
64,755
12,828
152,680
52, 171
32,610
49,319
18,581
61,510
Agriculture and forestry 3
Mining ~
-.Petroleum
Manufacturing
Food and kindred products
Paper and allied products
1,153
4,067
38, 627
61, 937
7,205
1,907
118
326
4,875
11, 283
1,225
226
7
52
675
966
96
13
128
363
2,505
15, 267
1,976
256
109
157
3,514
3,597
296
81
53
613
1,066
4,146
(D)
15
627
2,363
24, 670
22, 441
2,169
1,266
111
194
1,323
4,236
(D)
49
677
2,163
24, 570
38, 220
4,406
1,193
82
197
4,998
9,377
1,675
188
137
328
4,013
8,541
931
328
416
1,409
11, 764
17, 151
1,402
473
42
229
3,794
3,152
399
205
476
1,904
14, 058
23,717
2,799
714
Chemicals and allied products Industrial
.-.
.
Drugs _ .
. .-Other
19, 470
14, 044
2,579
2,848
2,775
2,031
308
436
446
384
32
30
3,914
2,521
613
780
828
491
127
210
1,257
1,094
98
65
8,865
6,751
974
1,140
1,385
772
426
187
10, 775
8,007
1,204
1,564
2,023
1,369
183
471
2,286
1,663
(D)
(D)
5,626
4,395
576
655
840
581
D
(D )
( )
8,694
6,037
1,374
1,283
5,790
2,118
5,524
5,979
13, 943
41, 849
1,059
369
1,463
1,677
2,489
13, 920
46
58
114
43
150
1,469
1,324
614
1,744
1,846
3,593
14, 213
333
105
363
436
1,155
4,635
185
270
421
280
(D)
2,551
2,659
590
1,164
1,253
4,475
3,717
184
113
255
444
(D)
1,344
3,861
1,428
3,683
3,677
9,196
34, 093
813
370
1,233
836
2,240
20, 238
694
274
924
1,203
1,902
9,472
2,092
560
1,368
1,288
4,341
3,710
263
224
158
351
713
673
1,929
691
1,841
2,302
4,746
7,756
Motor vehicles and automotive parts
and supplies
Metals and minerals
Farm-product raw materials .
Other
..
6,871
11,515
8,905
14, 559
1,563
4,700
2,586
5,071
177
649
253
390
3,103
2,854
2,989
5,267
692
1,013
1,518
1,412
271
1,390
528
362
920
529
774
1,494
145
379
257
563
5,307
9,401
7,634
11,752
3,259
5,699
4,827
6,454
1,385
2,636
1,815
3,637
515
982
789
1,424
149
84
204
236
1,563
2,115
1,271
2,807
Retail trade
Finance, except banking
Insurance
- - -.. .
Real estate and combined offices
Other
6,831
16, 227
26, 925
9,373
7,200
733
7,254
1,913
477
1,732
58
618
345
114
113
2,186
8
0
38
335
728
2,886
9,382
2,330
1,178
114
4,093
12, 430
459
477
2,421
76
314
5,337
2,788
592
1,291
2,541
618
577
4,761
14, 044
21, 563
7,542
5,046
1,263
6,894
7,005
739
1,378
814
4,319
2,280
1,469
1,237
2,047
2,756
2,938
4,963
2,165
638
76
9,339
371
267
2,070
2,183
5,362
1,831
2,153
Primary metal industries
Fabricated metal products
Machinery, except electrical _.
Electric and electronic equipment
Other .
.
Wholesale trade
.
2. Mainly security holdings and equity in unconsolidated busine;
3. Fisheries are included in "other."
* Less than $500,000 (±).
Suppressed to avoid disclosure of data of individual companies.
1. Excludes banks.
D
Table 8.—Income Statement of U.S. Affiliates, 1977-79 1
[Millions of dollars]
Income
Total
Sales 2
Addenda
Cost and expenses
Equity in
net income
of unconsolidated
businesses
Other
Operating
expenses 3
Total
U.S. income taxes
Other <
Net
income
Depreciation
charges
for the
year
Depletion
charges
for the
year
1977
184.555
All industries
Agriculture and forestry 5
__.
Mining
Petroleum
Manufacturing
Food and kindred products
Paper and products
.
-
Chemicals and allied products
Industrial
Drugs
Other
Primary metal industries.
Fabricated metal products
Machinery, except electrical
Electric and electronic equipment.
Other
Wholesale trade
Motor vehicles and automotive parts and
supplies
Metals and minerals
Farm-product raw materials
Other
Retail trade
Finance, except banking
Insurance
Real estate and combined offices .
Other
See footnotes at end of table.
182, 779
644
1,132
180, 749
175,025
3,290
2,434
3,806
2,876
214
443
1,246
24, 505
47, 519
7,550
1,627
435
1,186
24, 214
47, 111
7,537
1,622
2
6
153
284
25
4
474
1,249
23, 217
46, 285
7,458
1,566
449
1,172
21, 758
44, 415
7,340
1,485
9
17
1,054
1,142
97
48
16
61
405
728
20
34
-31
-3
1,288
1,233
92
61
16
72
952
1,281
83
51
(D)
(D)
1
4
111
86
14, 682
10,550
1,992
2,140
14, 547
10, 437
1,987
2,123
85
62
5
18
14, 193
10, 213
1,883
2,097
13, 435
9,710
1,718
2,007
410
333
489
337
109
44
593
465
53
74
8
ft
5,480
1,169
3,658
4,995
8,358
5,440
1,169
3,606
4,946
8,244
18
5,352
1,208
3,565
4,856
8,088
5,178
1,164
3,458
4,682
7,671
59
10
35
36
125
128
-40
92
139
270
131
32
67
108
216
90,446
89,093
744
646
227
9
0
1
5
2
91,092
(D)
138
124
-13
2
50
52
-1
(*)
(D)
(D)
90, 683
17,924
22,095
27,617
23, 456
17,809
22,006
27, 555
23, 314
7,543
1,385
7,037
672
3,113
7,502
1,187
6,760
638
3,063
(D)
22
15
16
(D)
(D)
321
87
(*)
D
( )
2
-2
347
170
115
34
72
137
292
609
D
(D)
( )
115
21
56
129
68
6
13
1
171
37
32
(D)
(D)
D
( )
17, 717
21, 940
27, 568
23,221
17, 411
21,608
27, 388
22, 686
211
101
34
263
95
230
147
272
207
155
49
235
7,388
1,198
6,647
776
3,068
7,121
1,126
6,288
697
2,905
161
27
180
9
82
106
45
179
70
81
155
187
390
-104
45
112
5
15
72
123
(<>
41
39
52
95
40
28
2
1
2
32
52
8
(*)
3
2
1
SUEVEY OF CURRENT BUSINESS
44
May 1981
Table 8.—Income Statement of U.S. Affiliates, 1977-79 *—Continued
[Millions of dollars]
Income
Total
Sales
2
Cost and expenses
Equity in
net income
of unconsolidated
businesses
Total
Other
Operating
expenses 3
U.S. income taxes
Addenda
Other 4
Net
income
Depreciation
charges
for the
year
Depletion
charges
for the
year
1978
All industries
Agriculture and forestry 5
Mining
_
Petroleum Manufacturing
Food and kindred products
Paper and allied products
._
231, 177
Chemicals and allied products
Industrial
Drugs
-_
Other
_ _ _ _ _ _ __ __
- _.
-
Primary metal industries
__ _
Fabricated metal products
_ _
Machinery except electrical
Electric and electronic equipment
Other
- _
Wholesale trade
Motor vehicles and automotive parts and
supplies
__ __
-Metals and minerals.. _
_ _ _
Farm-product raw materials
Other
Retail trade
_ __
_
Finance except banking
Insurance
Real estate and combined offices
Other
.
--
1,283
226,446
219,052
3,530
3,864
4,731
3,499
228
4
24
504
1,695
28,330
57,345
8,857
1,721
480
1,555
26, 226
54,960
8,707
1,632
14
27
1,046
1,274
91
60
10
113
1,057
1,110
60
30
-2
-30
1,699
1,312
126
69
21
98
1,228
1,463
115
52
1
6
139
75
16, 625
11, 861
2,173
5,592
16, 419
11, 699
2,162
2,558
112
84
16,063
11,418
2,103
2,542
15, 338
10, 912
1,954
2,473
297
178
90
30
428
328
59
40
562
442
70
50
637
494
57
86
6,028
1,738
4,896
6,376
11, 800
24
5,904
1,935
4,978
6,281
11,604
5, 605
1,870
4,774
6,061
10, 974
164
36
94
168
364
135
29
111
51
266
159
-172
-4
176
396
133
40
96
130
260
113,597
113, 164
106
327
112, 981
111,426
553
1,003
616
299
22, 256
27, 343
30,645
33, 354
22, 126
27, 228
30, 592
33, 218
8
96
-10
12
122
19
63
124
22, 185
27, 151
30, 590
33, 055
21,816
26, 832
30,309
32, 469
98
105
60
291
272
214
221
295
71
192
55
299
70
42
62
124
10,645
1,029
8,634
1,229
5,193
__
859
474
1,603
29, 776
57, 985
8,941
1,787
6,064
1,763
4,974
6,456
12,001
___
229,035
502
1,664
30,028
58, 657
8,983
1,790
10, 577
836
8,335
1,204
5,080
67
34
10, 447
839
8,032
1,270
5,004
10, 064
780
7,593
1,196
4,773
170
49
235
29
134
213
10
204
46
97
198
190
-602
-41
189
138
6
18
93
136
7,271
4,422
308
139
3,065
1,879
259
86
24
114
1,452
1,948
155
81
1
15
214
63
(D)
158
255
16
(D)
94
416
26
4
(*)
94
77
(D)
(D)
(D)
(D)
12
(D)
43
29
(D)
D
1
159
( )
3
10
(D)
35
51
(D)
D
( )
21
102
(D)
(D)
(D)
8
(*)
8
(*)
2
3
3
(*)
1
1
2
(*)
8 ,
1979
316, 944
313,302
1,557
2,085
309, 673
299, 172
5, 111
5,389
Agriculture and forestry 6
Mining
_
Petroleum
M anuf acturing
Food and kindred products _
_ _
Paper and allied products __ _ _ _ _
674
2,255
42, 243
77, 947
11,109
2,394
658
2,143
41, 617
76, 913
10, 946
2,387
4
12
7
674
2,116
39, 179
76,068
10,850
2,308
635
1,898
35, 405
73,204
10, 616
2,238
13
60
2,254
1,341
128
38
27
159
1,521
1,524
105
32
Chemicals and allied products
Industrial
_ _ _ _ ___
Drugs
Other
20, 940
14, 970
2,531
3,438
20, 679
14, 752
2,517
3,410
90
85
4
1
172
134
10
28
20, 301
14, 492
2,470
3,338
19, 481
13, 947
2,333
3,201
340
179
68
93
480
367
69
43
639
478
61
101
783
620
76
87
(D)
D
Primary metal industries _ _ _ _ _
Fabricated metal products
Machinery except electrical
Electric and electronic equipment
- _
Other
7,882
2,748
6,703
7,815
18, 356
7,775
2,698
6,591
7,756
18,081
30
19
31
24
76
32
81
36
7,188
2,631
6,472
7,461
17, 115
201
52
83
133
367
166
47
165
96
432
327
19
-18
125
442
170
54
137
161
408
(D)
(D)
7,555
2, 729
6,721
7,690
17, 914
152, 340
151, 492
(D)
151, 400
149, 180
754
1,466
940
339
(D)
26, 458
36,681
41, 830
47,371
26,309
36,309
41, 721
47, 153
26, 213
36, 254
41,646
47,286
25, 623
35, 748
41, 251
46, 558
259
117
110
267
331
389
286
461
244
427
184
85
63
54
76
146
19, 392
2,522
10, 442
2,464
6,664
19, 328
2,278
9,959
2,403
6,511
19, 201
2,252
9,754
2,570
6,460
18, 777
2,157
9,309
2,427
6,183
210
60
213
67
141
213
36
232
77
136
192
270
688
-105
204
209
6
24
127
181
All industries
Wholesale trade
Motor vehicles and automotive parts and
supplies
Metals and minerals
Farm -product raw materials
_
_
Other
_-_
Retail trade
Finance except banking
Insurance
Real estate and combined offices
Other
-
- -- -_
* Less than $500,000 (±).
D
Suppressed to avoid disclosure of data of individual companies.
1. Excludes banks.
2. Excludes returns, discounts, allowances, and sales and excise taxes.
(D)
(D)
(*)
283
430
(D)
(D)
343
605
(D)
(D)
9
(D)
6
5
7
203
(D)
H
18
(D)
140
103
212
58
41
D
( )
47
135
(*)
3. Costs of goods sold plus selling, general, and administrative expenses.
4. Includes minority interests in net income of consolidated affiliates.
5. Fisheries are included in "other".
(D)
( )
(*)
13
0
(*)
(*)
(D)
0
1
4
2
0
(<)
D
()
o
1
SURVEY OF CURRENT BUSINESS
May 1981
45
Table 9.—Selected Financial Data of U.S. Affiliates at Yearend, 1977-79, by Transactor
1
[Millions of dollars]
Position with foreign
persons
Total
Position
with U.S.
persons
Position with foreign
persons
UnAffiliAll
ated
affiliforeign foreign ated
perper- foreign
persons sons 2
sons
Total
Position
with U.S.
persons
1977
Total
Position
with U.S.
persons
1978
AffiliUnAll
ated
affiliforeign foreign
ated
perper- foreign
sons sons 2
persons
1979
83, 147
69,432
13,715
10,798
2,917
107,450
89,734
17,716
13,247
4,469
134,099
109,752
24,347
18,218
6,129
50, 383
17,086
33, 298
41,628
15, 808
25, 820
8,755
1,278
7,478
6,661
525
6,137
2,094
753
1,341
68, 227
23, 188
45,040
57, 427
21, 295
36, 132
10, 800
1,893
8,907
7,767
721
7,046
3,033
1,172
1,861
84, 781
24, 328
60, 453
71, 308
21,812
49, 496
13, 472
2,516
10, 956
9,895
1,203
8,692
3,577
1,312
2,264
.......
32, 764
8,085
24,679
27, 804
7,351
20, 453
4,960
734
4,226
4,137
171
3,966
823
563
260
39, 223
9,469
29, 754
32, 307
8,452
23, 855
6,916
1,017
5,898
5,480
190
5,290
1,436
827
608
49, 319
13, 814
35, 505
38, 444
11,421
27,022
10, 875
2,392
8,483
8, 323
349
7,974
2,552
2,043
509
-
29,028
24,263
4,765
2,480
2,285
39,436
33,420
6,016
3,659
2,358
47,049
39,752
7,297
4,365
2,932
Current liabilities and long-term debt, total....
Current liabilities 3
To banks
.
To others
Long-term debt
To banks
To others
.
Current receivables 4 .
1.
2.
3.
4.
AffiliUnAll
ated
affiliforeign foreign ated
perper- foreign
sons sons 2
persons
Position with foreign
persons
Excludes banks.
Foreign parents and foreign affiliates of foreign parents.
Equals the sum of "trade accounts and notes payable" and "other current liabilities" in the balance sheet.
Equals the sum of "trade accounts and notes receivable" and "other current receivables" in the balance sheet.
Table 10.—Selected Financial Data of U.S. Affiliates at Yearend, 1977-79, Major Industry by Transactor *
[Millions of dollars]
Current
liabilities 2
and
longterm
debt,
total
Position with U.S. persons
Total
Current
liabilities 2
Longterm
debt
Position with foreign persons
Affiliated foreign persons 3
All foreign persons
Total
Current
liabilities 2
Longterm
debt
Total
Current
liabilities 2
Longterm
debt
Unafflliated foreign persons
Total
Current
liabilities 2
Longterm
debt
1977
All industries
Agriculture and forestry 4
Mining
Petroleum
Manufacturing
_ _ _
Wholesale trade
_ _ _ _
Retail trade
__
Finance, except banking
Insurance
Real estate
_ __
Other
_
83, 147
512
1,582
14, 233
20,902
21,470
2,097
7,108
9,031
3,692
2,521
69,432
453
1,377
12, 846
16,265
16, 209
1,646
6,663
8,837
3,135
2,001
41,628
185
332
4,143
8,553
14,092
1,008
5,182
6,348
704
1,080
27,804
269
1,045
8,702
7,712
2,118
637
1,480
2,489
2,431
921
13,715
59
205
1,387
4,637
5,261
452
445
193
556
520
8,755
18
23
893
2,259
4,617
110
288
(D)
151
(D)
4,960
41
182
494
2,378
645
342
157
(D)
405
(D)
10,798
(D)
(D)
1,002
3,978
3,946
(D)
311
187
353
443
6,661
(D)
(D)
(D)
1,909
3,418
(D)
224
(D)
90
229
4,137
26
(D)
(D)
2,069
529
(D)
87
(D)
262
214
2,917
(D)
(D)
385
659
1,315
(D)
134
6
204
77
2,094
(D)
(D)
(D)
349
1,199
(D)
64
6
61
(D)
13,247
45
(D)
1,061
4,823
4,937
482
450
D
( )
484
509
7,767
10
(D) *
555
2,324
3,927
123
330
(D)
95
204
5,480
35
(D)
506
2,499
1,010
359
120
D
( )
389
305
4,469
24
(D)
614
831
2,029
184
430
D
( )
185
77
3,033
2
(D)
532
2411,884
14
252
D
( )
62
40
18,218
62
(D)
1,376
7,320
5,741
734
866
(D)
809
744
9,895
13
(D)
(D)
2,849
4,684
146
(D)
(D)
91
428
8,323
49
6,129
27
(D)
1,306
1,184
2,302
147
520
(D)
327
173
3,577
7
(D)
(D)
445
2,128
17
(D)
(D)
155
73
(D)
(D)
(D)
(D)
823
15
309
116
70
0
143
1978
All industries
Agriculture and forestry 4 .
Mining
_
_ _
Petroleum
__
Manufacturing
Wholesale trade
Retail trade
_
Finance, except banking. _. _ _ __
Insurance
Real estate.
_
Other
107,450
533
1,898
15,908
26,344
27,525
3,371
13, 351
10,210
4,672
3,638
89,734
464
1,608
14, 233
20, 691
20, 560
2,705
12,472
9,947
4,003
3,052
57,427
175
408
4,937
11, 176
18, 130
1,401
10,804
7,553
1,297
1,547
32,307
289
1,200
9,297
9,515
2,430
1,304
1,668
2,394
2,706
1,505
17, 716
68
290
1,675
5,653
6,966
666
879
263
669
586
10,800
12
24
1,087
2,565
5,811
136
581
183
156
243
6,916
56
266
588
3,088
1,155
530
298
80
512
342
1,436
22
( )
82
590
145
171
178
(D)
123
37
D
1979
All industries
Agriculture and forestry 4
Mining
Petroleum .
. __
Manufacturing.. __ __ _
Wholesale trade
_
Retail trade
Finance, except banking
Insurance
Real estate
Other _
D
134,099
635
1,934
20, 776
35,068
33,421
4,124
13,968
12, 223
7,171
4,780
109,752
547
1,663
18,094
26,564
25,377
3,243
12,582
11, 786
6,035
3,863
71,308
199
497
7,840
14, 623
22, 899
1,914
10, 195
9,065
1,962
2,114
38,444
347
1,165
10,254
11,941
2,478
1,329
2,386
2,721
4,073
1,749
24,347
89
271
2,682
8,504
8,043
881
1,386
438
1,136
917
Suppressed to avoid disclosure of data of individual companies.
1. Excludes banks.
2. Equals the sum of "trade accounts and notes payable" and "other current liabilities" in
the balance sheet.
13,472
20
(D)
1,172
3,294
6,812
163
1,017
(D)
246
501
10,875
69
(D)
1,510
5,210
1,231
718
369
(D)
890
416
(D)
(D)
4,471
1,057
588
(D)
(D)
718
317
3. Foreign parents and foreign affiliates of foreign parents.
4. Fisheries are included in "other."
2,552
20
(D)
D
( )
D
(D )
( )
739
174
130
172
100
SURVEY OF CURRENT BUSINESS
46
May 1981
Table 11A.—Selected Data of U.S. Affiliates
Gross book
value of land
and other
property,
plant, and
equipment 2S
Line
Land and mineral rights
owned 3
Agricultural
land*
Total
Millions
of dollars
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
All industries
Agriculture and forestry
Mining
-- Petroleum
Manufacturing
- - -
— - --
- --
-
Primary metal industries - Fabricated metal products
._ _ _ _
Machinery except electrical
Electric and electronic equipment
Other
. - -
- -
_
--
-
17
18
19
20
21
Wholesale trade
-Motor vehicles and automotive parts and supplies
Metals and minerals
_
-Farm-product raw materials
-- - Other
--
22
23
24
25
26
Retail trade
Finance except banking
Insurance
Real estate and combined offices
Other
--
__
-
Agricultural
land*
Thousands of acres
-
3,753
28,951
541
3,044
23,048
22,977
2,566
445
473
1,602
2,110
(D)
3
1,184
(D)
1,735
21, 154
4,893
2,171
1,269
10,083
7,843
966
1,273
73
1,004
252
196
(D)
(D)
3,722
760
670
937
1,356
1,796
80
309
3,845
2,654
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(*)
6
996
,
2
(D)
(*)
(D)
(*)
20
190
49
2
(*)
2
306
<•)
1
4
116
1
0
0
D
()
(*)
3
(D)
3
D
()
Number
7,034
1,128,793
52
277
3,277
2,802
43
238
3,133
2,475
7,676
14,863
86,838
639,438
270
166
1,116
823
104
189
217
150
981
773
88
120
78,929
14, 743
182, 457
135,919
24, 269
22,269
313
54
190
189
505
279
46
180
166458
61,539
19, 430
49, 574
88,087
144, 679
513
110
76
87
240
447
99
74
77
198
137, 392
21, 358
18, 679
24, 355
73,000
216
11
24
797
262
211
11
17
239
220
129, 097
8,090
34,821
6,265
64,313
(*)
(D)
(*)
1
5
1
191
Employment •
New
8,231
0
(*)
(D)
(*)
(D)
(D)
8
Total
4
( )
(*)
(D)
(D)
0
(*)
(D)
(D)
(D)
136
(D)
<•)
(*)
(D)
238
6
1,366
(D)
D
2
18
Expenditures for plant
and equipment
Millions of dollars
6,040
2,967
474
1,093
1,312
3,609
- -
-
Total
62,015
8
Food End kindred products
Paper and allied products
Chemicals and allied products
Industrial
Drugs
-Other
Land and mineral rights
leased s
0
0
0
0
shown separately because in reviewing the data, it was found that these data were inconsistently reported by the affiliates.
3. The gross book value of land and acres owned and leased are understated because some
affiliates failed to consolidate fully in their reports data for certain affiliates that were joint
* Less than 500 acres or $500,000.
D Supressed to avoid disclosure of data of individual companies.
1. Excludes banks.
2. Includes the value of land owned that is carried in all balance sheet acounts. Also note
that the gross book value of "land" and "other property, plant, and equipment" are not
Table 11B.—Selected Data of U.S. Affiliates
Gross book
value of land
and other
property,
plant, and 8
equipment 2
Line
Land and mineral rights owned
Land*
Total
Total
All industries
74, 186
6,539
2
3
4
5
Agriculture and forestry 9
Mining
Petroleum
Manufacturing.
_
662
3,100
27,027
27,569
2,417
648
624
1,864
(D)
81
1,093
263
199
10
53
(D)
2,701
1,477
11,700
9,029
1,179
1,492
12
13
14
15
16
Primary metal industries
Fabricated metal products Machinery except electrical
Electric and electronic equipment
Other
3,077
619
1,410
1,674
4,913
22
23
24
25
26
Retail trade
Finance, except banking
Insurance
Real estate and combined offices
Other _ .
2,636
99
414
4,801
3,165
(D)
(D)
668
1,041
1,774
5,449
W
(D)
(D)
10
53
(D)
(D)
(D)
16
(D)
270
241
203
4
(D)
(D)
202
4
42
(D)
(D)
3
(D)
2
357
Total
Agricultural
land*
42
(D)
(D)
(D)
(D)
(D)
(D>
(D)
2
(D)
8
® 131
(*)
2
342
114
(*)
230
(•)
(D
(D
(D
(D
0
(*)
0
29
1
0
(D)
1
5
10
1
15
2
40
221
3,012
3,346
496
213
1,495
1,093
173
229
330
202
1,420
1,055
167
198
2
323
114
208
236
698
300
73
203
233
585
o
966
320
837
304
90
154
402
79
128
326
0
0
0
(*)
390
9
47
623
409
298
8
46
337
332
3
4
(*)
(*)
(D)
(D)
(*)
1
0
0
(D
8,478
56
290
3,276
3,784
5
2
ft
(»}
0
0
0
16
9,850
(D)
(D)
(D
(*)
6
1
218
1,378
(D)
(D)
(*)
(D)
261
1
0
8
New
Total
0
1,966
25,337
4,156
(D)
8
(*)
(D)
211
32,792
(D
0
0
(D)
Expenditures for plant
and equipment
Millions of dollars
1,091
2,260
(D)
(D)
1,233
3
<D)
*Less than 500 acres or $500,000.
Suppressed to avoid disclosure of data of individual companies.
1. Excludes banks.
'
2. Includes the value of land owned that is carried in all balance sheet accounts. Also note
that the gross book value of "land" and "other property, plant, and equipment" are not
shown separately because in reviewing the data, it was found that these data were inconsistently reported by the affiliates.
D
4,093
4
1,056
26
438
(D)
1,634
16
4,714
1,231
19
20
21
Wholesale trade
Motor vehicles and automotive parts and
supplies.
Metals and minerals.. .
Farm-product raw materials
Other
17
18
Mineral
rights
Thousands of acres
1
Food and kindred products
Paper and allied products _ _
Chemicals and allied products .
Industrial
Drugs
Other
Land and mineral rights
leased 3
Agricultural *
Millions of
dollars
6
7
8
9
10
11
8
(D)
32
(*)
3. The gross book value of land and acres owned and leased are understated because some
affiliates failed to consolidate fully in their reports data for certain affiliates that were joint
ventures or partnerships formed to own or lease land; they included only their interest in,
rather than 100 percent of, the land owned or leased by these joint ventures or partnerships,
SURVEY OF CURRENT BUSINESS
May 1981
47
for 1977, by Industry of Affiliate '
Merchandise exports •
Employee compensation
Merchandise imports *
Research
and
Total
To affiliated
foreigners 7
Total
Employee
benefits
Wages and
salaries
Total
To unaffiliated
foreigners
From affiliated
foreigners 7
From unaffiliated
foreigners
development
expenditures
Line
Millions of dollars
17,571
101
305
2,775
17
344
600
3,302
84
223
1,497
8,475
1,866
10,068
1,593
957
217
2,630
1,849
420
360
259
1,109
313
894
207
42
505
362
915
259
725
1,164
3,135
2,212
503
420
194
54
169
149
274
1,197
1,997
1,991
1,305
1,117
164
422
338
(D)
115
28
51
12
217
144
206
19,340
(D)
4,223
12,206
(D)
(D)
9,251
(D)
2,957
4,595
(D)
10,089
112
(D)
0
?
(*)
47
(D)
0
(*)
(
ventures or partnerships formed to own or lease land; they included only their interest in,
rather than 100 percent of, the land owned or leased by these joint ventures or partnerships.
4. Land used for crops, pasture, timber production, and other agricultural purposes.
5. Average number of full-time and part-time employees.
1
3,982
1,068
3
16
107
721
2
3
4
5
27
1
461
180
6
7
8
9
(D)
464
333
(D)
145
74
a
S
593
148
707
804
10
11
18
20
51
93
50
12
13
14
15
16
7,222
243
2,173
3,505
1,301
34
1
17
18
19
20
21
116
3
241
136
52
76
146
22,119
9,216
4,473
1,668
6,761
(D)
125
(*)
(*)
(*)
0
23
23
906
(*)
685
523
29,341
9,459
6,647
5,173
8,062
1,266
7,611
(D)
(D)
(D)
(D)
730
200
783
951
631
93
377
230
284
12,740
2,137
4,127
109
124
(D)
(D)
(D)
798
274
830
597
81
101
(D)
1
223
(D)
536
457
105
594*
374
490
28,670
1
123
6,119
5,195
346
164
(D)
7
122
41,410
237
2,043
363
1,259
108
152
188
24
58
59
764
66
886
12,697
(D)
(D)
(D)
(D)
882
621
315
48
59
63
145
329
326
349
987
188
480
(D)
83
60
1,048
1,723
2,306
377
384
412
1,132
11,279
23,976
17
82
369
14,796
(D)
0
0
8
4
(D)
(*)
0
0
22
23
24
25
26
6. Exports are valued f.a.s. at the U.S. port of exportation; imports are valued f.a.s. at the
foreign port of exportation.
7. Foreign parents and foreign affiliates of foreign parents.
8. Fisheries are included in "other."
for 1978, by Industry of Affiliate '
Employee compensation
Merchandise exports 7
Merchandise imports 7
Wages and
salaries
To affiliated
foreigners *
From affiliated foreigners 8
Employment 6
Total
Employee
benefits
Total
To unaffiliated
foreigners
Total
Research and
development
expenditures
Line
Millions of dollars
Number
1,329,185
22,677
18,842
3,835
31,163
16,081
15,081
53,658
7,495
17,240
95,488
735,370
97
393
2,295
82
293
15
101
480
23
479
828
1
22
2,213
4,191
1
131
5,939
6,666
282
50
578
410
98
70
486
92,638
14,371
197,853
144,907
29,204
23,742
From unaffiliated foreigners
12, 791
1,815
10,578
1,459
1,177
288
3,627
2,521
623
483
237
3,048
2,111
525
413
(D)
(D)
490
1,512
749
128
212
309
63
860
533
450
862
377
1,251
1,566
3,083
1,010
1,335
2,532
206
73
241
231
551
160,420
26,482
2,855
524
2,469
446
387
78
(D)
(D)
18,216
24,944
90,778
398
436
347
367
1,497
1,309
51
69
189
5,025
15,570
(D)
(D)
161,897
8,134
39,247
8,991
94,903
1,693
263
628
99
1,561
1,437
236
536
90
1,306
255
13,543
25, 160
11,617
(D)
1,605
8,372
305
1
o
175
3,420
7,198
(D)
(D)
(
*>
4. Consists of all land for which surface rights are owned; mineral rights to the land may
not be owned.
5. Land used for crops, pasture, timber production, and other agricultural purposes.
6. Average number of full-time and part-time employees.
1,105
1,213
(D)
(D)
(>)
221
48
604
292
423
49
o
o
(D)
1,247
89
16
256
241
1,068
337
2,680
285
112
695
566
22
107
201
(D)
395
183
107
106
1,090
52,511
25,093
64,126
104,054
184,724
256
27
92
9
(D)
36,900
874
348
961
155
132
706
266
184
39
2
563
233
191
139
6
7
8
9
10
11
181
18
184
143
11
15
67
128
68
12
13
14
15
16
61
17
18
4
34
19
20
21
295
(D)
(D)
(D)
782
191
921
1,070
(D)
40,560
13,076
29,634
(D)
10,926
(D)
9,701
5,935
11,848
(D)
(<)
o
85
(D)
(D)
169
0
0
0
(D)
0
(*)
(D)
(D)
106
2
C)
(D)
4,545
3,100
5,156
2,835
275
2
126
4
5
4,253
1,372
(D)
(D)
0
0
981
777
(D)
(D)
964
209
1
7
17
156
894
(D)
1,686
5,293
578
(D)
1,176
16,758
(*)
(*)
0
(D)
2
3
22
23
24
25
21
26
7. Exports are valued f.a.s. at the U.S. port of exportation; imports are valued f.a.s. at the
foreign port of exportation.
8. Foreign parents and foreign affiliates of foreign parents.
9. Fisheries are included in other."
SURVEY OF CTJKEENT BUSINESS
48
May 1981
Table 11C.—Selected Data of U.S. Affiliates
Gross
book
value of
land and
other
property,
plant, and
equipment 2 3
Line
Land and mineral rights owned 3
Gross
book
value
of land 2 s
1
All industries
Agriculture and forestry
Mining
Petroleum ._
_
Manufacturing
Mineral
rights
Total
7,128
7,162
776
3,344
34,286
35,113
443
326
943
2,131
2,377
591
(D)
2,151
3,351
1,985
13, 898
10,743
1,420
1,735
397
197
775
604
47
124
91
1,173
306
241
11
54
(D)
(D)
3,960
893
1,844
2,088
7,095
99
33
65
61
505
5,306
394
227
1,142
826
1,199
2,139
70
45
111
169
4
19
20
21
Wholesale trade
— __
- Motor vehicles and automotive parts
and supplies
Metals and minerals
Farm-product raw materials
Other
.
_
22
23
24
25
26
Retail trade
Finance, except banking
Insurance
Real estate and combined offices ..
Other. ..
_
__ __
3,492
124
518
7,008
3,758
199
25
132
2,284
249
4,504
(D)
_
__ _
__.
6
7
8
9
10
11
Food and kindred products
Paper and allied products
Chemicals and allied products
Industrial
Drugs
Other
12
13
14
15
16
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electric and electronic equipment
Other
.
17
18
__ _
_
__
Agricultural
land 8
Total
Agricultural «
Thousands of acres
93,725
10
Gross
book
value of
other
property,
plant, and
equipment*
Land <
Total
Millions of dollars
2
3
4
5
Land and mineral
rights leased 3
5,995
1,823
256
192
11
54
(D)
1
(D)
(*)
322
290
(D)
(D)
4
48
4
6
3
749
127
(D)
* Less than 500 acres or $500.000.
D Suppressed to avoid disclosure of data of individual companies.
1. Excludes banks/
2. Includes the value of land owned that is carried in all balance sheet accounts.
3. The gross book value of land and acres owned and leased are understated because some
O.J
(*)
0
1
32
(*)
5
1
510
2
(D)
511
315
2,031
1,578
230
223
426
298
1,803
1,425
157
220
(*)
3,861
861
1,779
2,027
6,589
527
124
282
346
852
498
112
263
322
751
4,912
1,061
980
1,073
782
1,088
1,970
274
123
192
473
262
120
173
424
3,292
99
386
4,724
3,509
465
22
68
962
141
422
21
67
555
392
2
(*)
(D)
0
0
(D)
1
0
0
198
41
0
0
0
9
1
2,954
1,788
13, 123
10, 140
1,372
1,611
(D)
(*)
(D)
(D)
(D)
0
51
233
2,943
4,473
4
24
1
31
(D)
(D)
7
10, 137
58
273
3,242
4,990
8
3
1
4
5
(D)
(*)
11,581
332
3,018
33,343
32, 982
(D)
(D)
0
(D)
2
<D)
48
4
6
3
758
(*)
0
(*)
(D)
(D)
(D)
(D)
167
(D)
(D)
(D)
(D)
49
49
86,598
(D)
(D)
(*)
(D)
1,860
24, 214
5,720
328
2
(D)
(D)
151
5
1,407
(D)
(D)
(D)
49
49
(D)
(D)
(D>
(D)
(D)
(D)
(D)
33,246
(D)
10
1,127
440
(D)
New
Total
Millions of dollars
1,167
2,228
(D)
(D)
1,358
Expenditures for
plant and equipment
(*)
(*)
0
0
196
0
affiliates failed to consolidate fully in their reports data for certain affiliates that were joint
ventures or partnerships formed to own or lease land; they included only their interest in,
rather than 100 percent of, the land owned or leased by these joint ventures or partnerships.
4. Consists of all land for which surface rights are owned; mineral rights to the land may not
be owned.
Table 12A.—Selected Data of U.S. Affiliates, by Country of Foreign Parent, 1977
EmConEmploy- ployee
compensolidated ment 2
affiliates
sation
Total
assets
Number
Fixed
assets,
Mer-
net
Mer-
chandise
exports4
Sales 3
Land and mineral
rights owned 5
chandise
imports 4
Total
Agricultural
land e
Land and mineral
rights leased 5
Agricultural
land «
Total
Thousands of acres
Millions of dollars
1977
All countries. _
Addendum:
OPEC 7
See footnotes on page 50.
182, 779
23,976
41,410
6,040
3,753
28,951
120,508
37,856
162, 922
21, 608
39,397
5,443
3,254
27, 997
157, 550
749, 978
640, 139
20, 610
62, 108
121, 224
2,883
186, 783
6,965
239, 566
109, 839
24, 537
80, 525
4,777
2,452
11, 957
10, 245
323
1,071
1,837
47
3,397
91
3,479
1,711
400
1,240
71
19, 856
84,099
73, 953
3,327
10, 353
10, 589
493
29,461
317
19,415
10, 146
2,014
7,425
707
6,403
29, 561
27, 430
959
1,511
3,474
104
17,238
81
4,063
2,131
358
1,495
278
16, 933
102,021
88, 787
3,511
14, 745
14, 455
585
28,032
680
26,780
13, 234
3,119
9,409
706
864
10, 659
9,768
146
(D)
611
(D)
1,410
(D)
1,311
890
171
702
17
3,476
20, 401
17, 110
1,238
1,063
4,005
53
7,042
275
3,434
3,291
1.168
1,757
366
2,031
3,369
2,949
(D)
69
196
(D)
720
(*)
1,080
421
5
225
191
1,384
1,850
1,622
(D)
39
63
(D)
D
( )
(*)
905
228
4
35
189
9,369
18, 626
17, 885
(D)
(D)
(D)
(D)
(*)
412
742
D
(D )
(D)
( )
(D)
(D)
63,547
4,653
967
55
15, 621
931
1,865
27
48, 551
417
10,084
1
15, 379
141
41
2
18
2
1
(*)
302
__
42,239
15,431
319
19
Developing countries
133, 792
975,728
265
1,077
792
61
100
200
16
124
24
267
285
68
145
72
Japan
Australia, New Zealand, and South Africa
17,571
1,680
Canada
-_
__
Europe
European Communities (9)
__ _
Belgium and Luxembourg
France
Germany
.
_ _
_ _ _ _ _
Italy
Netherlands
_ _ _
Denmark and Ireland
._
United Kingdom
_ __ _ _
Other Europe
Sweden
Switzerland
_
Other
Latin America.
_
Panama
Bahamas
Bermuda and British Islands, Caribbean
Netherlands Antilles
Other
Other developing.
. _ __
Israel
Other Middle East
Other Africa, Asia, and Pacific..
1,366
1,982 1,128,793
_
Developed countries.- - -
153,065
2,140
13,284
4,383
14,856
2,368
2,013
596
500
241
51
27
44
92
27
61
9
19
33
144,086
11, 890
9,825
28, 962
89, 610
3,799
8,979
(D)
(D)
7,391
2,019
184
117
469
1,197
53
121
D
( )
(D)
98
11, 895
1,121
1,501
3,807
5,074
392
1,389
269
530
589
4,058
294
955
732
2,024
53
326
5
224
96
13, 861
1,184
914
2,700
8,313
750
995
192
87
716
2,247
115
(D)
102
(D)
(D)
121
(D)
(D)
95
1,701
289
165
525
402
320
311
D
( )
0
(D)
568
45
44
39
414
26
28
(*)
(D)
(D)
23
4,223
54
718
258
319
(D)
(D)
25
(D)
D
28
( )
28
391
(D)
(D)
o
D 1
()
(D)
(*)
1,040
(D)
D
(D )
(D )
( )
(D)
(D)
4
0
2
0
0
0
0
326
954
(D)
(°)
(*)
(D)
296
4
(D)
(*)
(*)
(D)
4
326
(D>
o
(D) 296
4
0
0
0
0
4
SURVEY OF CUKKENT BUSINESS
May 1981
49
for 1979, by Industry of Affiliate »
Merchandise exports s
Employee compensation
Employment ?
Wages and
salaries
Total
Employee
benefits
Number
29,825
24, 832
4,993
42,993
8,327
18, 772
106,840
917, 693
119
479
101
354
18
125
561
22
726
2,739
17, 037
2,178
14,098
1,788
1,437
4,510
3,160
3,704
2,588
1,416
1,131
425
610
507
Total
174, 191
3,308
2, 876
432
25, 849
21, 229
28,833
98, 280
534
543
554
455
475
477
1,678
1,468
78
67
77
210
2,730
2,288
1,685
(D)
(D)
34,602
(D)
(D)
18, 124
968
443
909
764
38
106
391
251
629
395
D
D
7, 315
22, 165
4,267
10, 754
( )
( )
416
2
0
1
153
(D)
351
Line
5. Land used for crops, pasture, timber production, and other agricultural purposes.
6. "Other property" includes the value of mineral rights owned and the capitalized value of
mineral rights leased.
7. Average number of full-time and part-time employees.
732
295
1,205
1,219
(D)
(D)
3
8
7
234
5,620
2,139
1,192
1
2
3
4
5
46
2
722
308
260
153
6
7
8
9
10
11
550
56
267
159
16
31
94
148
133
12
13
14
15
16
428
271
167
43
60
41,394
32, 342
9,053
53
17
13, 364
8,206
6,308
13, 515
3, 018
11,411
(D)
781
119
123
1,282
( )
0
0
1
73
(D)
1,023
1,471
1,378
2, 358
'D)
D
(D)
540
948
163
183
1,533
17, 147
2,133
7,406
(D)
1,294
13. 136
5,706
2, 685
10,814
228
2
18
19
20
21
16, 478
(D)
42,205
(*)
(D)
7,753
9, 545
401
(D)
442
32
130
26
288
306
618
328
1,973
322
119
15
350
298
1,187
422
4,093
510
266
979
693
285
117
325
277
718
591
3
148
(D)
653
194
138
722
276
59, 351
21
1,903
454
268
156
31
1,430
1,669
3,771
338
748
354
(D)
21,562
1
1. 363
1.031
1,755
1,947
4,488
708
21,432
351
61
805
572
143
90
364
753
597
1,074
5, 996
2,939
66, 866
36, 752
84, 769
121,251
239, 017
226. 756
10,106
45, 235
19, 695
111, 515
Research and
development
expenditures
From affiliated From unaffilforeigners 9
iated foreigners
Millions of dollars
1, 642, 130
116, 997
19, 616
232, 425
172,265
33, 102
27, 058
To unaffiliated
foreigners
To affiliated
foreigners »
Total
Merchandise imports s
(D)
(*)
2
0
0
80
(D)
415
(D)
294
121
(D)
(*)
0
2, 501
3, 623
2,701
(D)
(•>
(*)
(D)
(*)
0
67
0
0
(D)
4
(D)
17
22
23
24
25
26
8. Exports are valued f.a.s. at the U.S. port of exportation; imports are valued f.a.s. at the
foreign port of exportation.
9. Foreign parents and foreign affiliates of foreign parents.
10. Fisheries are included in "other."
Table 12B.—Selected Data of U.S. Affiliates, by Country of Foreign Parent, 1978-79 ]
Land and mineral rights owned «
Consolidated
affiliates
Employ- Employee
compenment 2
sation
Total
assets
Fixed
assets,
net
Sales 3
Merchan- Merchandise
dise
exports 4 imports 4
Total
Agricultural 7
Total
Number
Land and mineral
rights leased »
Land«
Mineral
rights
Agricultural7
land
Total
Thousands of acres
Millions of dollars
1978
All countries
2,295
1,329,185
22, 677
169,373
50,496
229,035
31, 163
53, 658
6,539
5,449
4,093
1,091
32,792
1,894
1,171,382
20, 191
154,462
45,955
211,332
28,254
51, 142
5,898
(D)
3,545
(D)
31, 826
Canada _.
.
Europe
European Communities (9)
B elgium and Luxembourg
France
- - Germany
Italy
Netherlands
.
Denmark and Ireland
United Kingdom
-- -_
Other Europe
Sweden
- Switzerland
Other
288
1,235
918
60
105
271
14
156
26
286
317
69
162
86
174, 602
912, 364
779, 974
22, 249
67, 818
169, 947
1,600
227, 299
18,309
272,752
132, 390
26, 999
100, 919
4,472
2,949
15, 879
13, 491
369
1,283
3,034
31
4,281
198
4,295
2,388
509
1,815
64
22, 915
109, 859
93, 379
3,902
12, 556
14, 823
463
36, 995
471
24,168
16, 480
2,466
13, 327
686
7,179
36, 464
33, 717
1,252
1,804
4,821
115
20, 189
160
5,375
2,747
428
2,056
264
20, 145
131, 631
115, 450
3,966
18, 145
20, 473
626
36,497
908
34, 835
16, 181
3,475
11, 903
802
1,138
13, 563
12, 516
178
(D)
889
(D)
2,101
(D)
1,667
1,047
239
787
20
3,916
25,012
20, 716
1,386
1,468
4,980
55
8,650
298
3,879
4,296
1,383
2,472
442
2,312
3,541
3,252
(D)
73
292
(D)
1,079
1
1,203
290
6
89
195
(D)
2,989
2,709
(D)
70
(D)
(D)
743
1
1,141
195
1,429
2,095
1,852
(D)
30
132
(D)
288
(*)
967
243
4
46
193
(D)
552
542
D
( )
3
(D)
0
335
(*)
61
(D)
(*)
(D)
0
11,181
20, 643
20,329
(D)
1,372
1,085
(*)
(D)
(*)
(D)
314
(*)
(D)
(D)
Japan
Australia, New Zealand, and South
Africa
-
353
79, 470
1,302
20, 707
2,265
13, 549
22,012
45
45
22
0
0
0
Developed countries
Developing countries
Latin America
- Panama.
Bahamas
Bermuda and British Islands,
Caribbean
Netherlands Antilles _
Other
Other developing
_Israel
Other Middle East
Other Africa, Asia, and Pacific-
Addendum:
OPEC s
59, 117
(D)
6
(D)
18
4,946
62
981
401
157,803
2,486
14,911
4,540
17,702
2,908
2,516
641
( )
328
65
26
147, 886
13, 106
10, 428
2,336
233
119
13, 168
1,545
528
4,107
551
225
16,266
1,643
806
2,723
120
(D)
1,998
485
128
593
(D)
(D)
(D)
(D)
44
160
33
73
9
18
46
20,707
99,885
3,760
9,917
647
1,175
8,095
321
1,613
50
150
11
15
125
4,351
6,390
353
1,743
291
582
871
670
2,599
62
433
6
311
116
2,622
10,327
868
1,436
223
140
1,073
64
2,270
(D)
186
(D)
(D)
143
656
422
306
518
35
426
38
49
(*) •
6
43
35
426
38
49
(*)
6
43
22
3,399
40
742
48
343
440
321
4
45
202
(D)
D o
()
(D)
(*)
(*)
23
548
D
11
23
(D)
36
(D)
29
397
(D)
(D)
(D)
D
()
o
1
1,378
1,040
(D)
(D)
D
(D )
( )
(D)
5
0
8
0
"o
0
0
0
0
0
(D)
2
o
o
1
966
()
(D)
o
338
965
(D)
(*)
D
(D)
D
338
(D)
0
()
(D)
0
(*)
(D)
316
(D)
8
(*)
(*)
5
(D)
2
316
0
0
0
0
4
SURVEY OF CURRENT BUSINESS
50
May 1981
Table 12B.—Selected Data of U.S. Affiliates, by Country of Foreign Parent, 1978-79" —Continued
Land and mineral rights owned «
Consolidated
affiliates
Employee
Employ- compensation
ment2
Total
assets
Fixed
assets,
net
Sales '
Merchan- Merchandise*
dise*
exports imports
Total
Total
Agricultural 7
Millions of dollars
Number
Land and mineral
rights leased *
Land«
Mineral
rights
Agricultural *
land
Total
Thousands of acres
1979
2,613
Canada
-Europe _
European Communities (9)
Belgium and Luxembourg
France - Germany
Italy
Netherlands
Denmark and Ireland. _ _
United Kingdom
Other Europe
Sweden
Switzerland
Other
.
--
Japan
Australia, New Zealand, and South
Africa
- Developing countries
Latin America
Panama
Bahamas
Bermuda and British Islands,
Caribbean
_ _ _
Netherlands Antilles
Other
Other developing
Israel
__ _
Other Middle East .
Other Africa, Asia, and Pacific
Addendum:
OPEC s
1,642,130
29,825
214, 190
64,755
313,302
42,993
59,351
7,162
5, 995
4,504
1,167
33,246
1,407
2,083
All countries
Developed countries
1,460,123
26,893
194,783
58,720
292,584
39,242
56,414
6,245
5,099
3,710
1,147
32,138.
1,039
308
1,375
1,043
66
123
335
14
176
23
306
332
70
170
92
189, 888
1, 164, 298
1,000,708
23, 510
93, 028
288,097
2,054
259, 434
21, 739
312, 846
163, 590
32, 789
126, 009
4,792
3,567
21, 559
18,572
424
2,081
5,090
38
5,499
286
5,153
2,987
601
2,302
84
26, 325
144, 499
123, 685
4,636
14, 436
21, 796
480
51, 754
1,038
29, 545
20, 813
3,211
16, 782
821
8,089
47, 610
44, 139
1,636
2,311
6,754
39
26, 154
292
6, 953
3,470
538
2,642
291
23, 809
190, 279
169,764
5,215
25, 107
34, 791
346
51,111
1,239
51, 954
20, 515
4,902
14, 669
944
1,417
20, 782
19, 438
243
(D)
2,524
2
3,883
48
(D)
1,344
307
1,005
32
4,545
27, 363
22, 158
1,236
1,693
5,619
128
8,764
300
4,418
5, 205
1,797
2,909
500
2,395
3,815
3,420
(D)
78
411
(D)
1,186
(D)
1,169
394
6
96
291
1,800
3,263
(D)
(D)
74
384
(D)
(D)
(D)
1,082
1,425
2,269
1,978
(D)
37
215
0
390
(D)
(D)
292
3
45
243
595
552
(D)
D
( D)
(D)
( )
374
95, 313
1,651
22, 721
2,901
77, 741
17, 024
24, 231
35
35
11, 456
20,679
20, 554
1,367
(D)
1,528
(*)
(D)
(*)
(D)
126
(D)
101
(D)
2
26
10, 624
116
1,239
120
755
19
275
1
1
(*)
20
(*)
1,109
20
1
4
1,108
(D)
(*)
(D)
6
(D)
291
15
(D)
D
( )
(D)
(*)
530
182,007
2,932
19,407
6,035
20,718
3,751
2,937
916
896
(*)
0
795
173, 887
13, 962
8,716
2,819
254
118
17, 455
1,755
355
5,559
598
152
19,080
1,891
742
3,485
148
(D)
2,381
503
(D)
844
56
14
823
55
10
731
40
(D)
65
265
36
76
8
19
49
34, 902
110, 443
5,864
8,120
738
1,234
6,148
587
1,779
81
112
13
14
84
6,434
8,365
546
1,951
383
583
986
1,187
3,526
96
476
8
309
159
3,821
11, 487
1,139
1,638
246
140
1,253
204
(D)
(D)
266
(D)
(D)
238
758
573
(D)
557
(D)
0
(D)
77
655
42
73
(*)
8
65
(D)
651
46
601
(D)
63
0
1
62
24
3,354
34
758
343
309
D
( )
D
( )
29
(D)
(
72
*>8
64
29
D
( )
87
8
8
(•)
454
68
20
3
27
0
(D)
«!
(*)
0
0
(D)
399
5
(*)
(*)
8
4
6
47
0
(D)
D
o
(D)
o
()
8
1
368
368
(D)
(D)
o
346
4
0
0
0
0
4
than 500 acres.
Supressed to avoid disclosure of data of individual companies.
1. Excludes banks.
2. Average number of full-time and part-time employees.
3. Excludes returns, discounts, allowances, and sales and excise taxes.
4. Exports are valued f.a.s. at the U.S. port of exportation: imports are valued f.a.s. at the
foreign port of exportation. The data are classified by country of the U.S. affiliate's foreign
parent, not by the destination of the exports or the origin of the imports, i.e., exports or imports shown for a particular country may not be destined for or have originated from that
country.
5. Acres owned and leased are understated because some affiliates failed to consolidate fully
in their reports data for certain affiliates that were joint ventures or partnerships formed to
own or lease land; they included only their interest in, rather than 100 percent of, the land
owned or leased by these joint ventures or partnerships.
6. Consists of all land for which surface rights are owned; mineral rights to the land may not
be owned.
7. Consists of land used for crops, pasture, timber production, and other agricultural
purposes.
8. Countries in the Organization of Petroleum Exporting Countries (OPEC) are: Algeria,
Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, Venezuela, and United Arab Emirates.
Footnotes to Table 12A.
*
D Less than 500 acres.
Supressed to avoid disclosure of data of individual companies.
1. Excludes banks.
2. Average number of full-time and part-time employees.
3. Excludes returns, discounts, allowances, and sales and excise taxes.
4. Exports are valued f.a.s. at the U.S. port of exportation; imports.are valued f.a.s. at the
foreign port of exportation. The data are classified by country of the U.S. affiliate's foreign
parent, not by the destination of the exports or the origin of the imports, i.e., exports or imports shown for a particular country may not be destined for or have originated from that
country.
own of lease and; they i n c u e d ony eir nerest n
owned or leased by these joint ventures or partnerships.
6. Consists of land used for crops, pasture, timber production, and other agricultural
purposes.
7. Countries in the Organization of Petroleum Exporting Countries (OPEC) are: Algena,
Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya. Nigeria, Qatar, Saudi Arabia, Venezuela, and United Arab Emirates.
*
D Less
May 1981
51
SURVEY OF CURRENT BUSINESS
Table 13.—Land, and Other Property, Plant, and Equipment of U.S. Affiliates at Yearend 1977-79, by State 12
1977
1978
Gross
Land and mineral Gross
book
book
rights
value of
value of
land and
land and
other
other
property,
property,
plant, and Owned Leased
plant,
and
equipment 3
equipment 3
Millions
of dollars
Thousands of
acres
1979
Land and mineral rights
owned
Total
Land*
Mineral
rights
Gross
book
Land
value of
Gross
and
land and
book
other
mineral
value of
rights property, lands
plant,
leased
and
equipment *
Thousands of acres
Millions
of dollars
6,539
5,449
1,091
32, 792
(D)
(D)
(D)
82
2,145
633
246
703
197
205
161
(D)
(D)
(*)
(D)
(•)
(*)
391
(D)
(*)
11
19
(D)
218
101
(*)
(*)
2
1
D
(D)
( )
9,912
264
99
892
3,150
3,165
2,342
423
(D)
(*)
19
23
(D)
22^
330
(D)
(*)
19
22
129
(D)
8,633
2,448
827
2,349
2,270
739
456
36
15
73
D
(D )
( )
2,441
412
(D)
(D)
(D)
45
10, 166
2,912
1,027
2,600
2,656
971
508
42
16
74
D
(D)
( )
(D)
3,584
306
190
1,936
851
112
166
22
421
15
33
240
20
D
(D )
( )
9
3,852
2
138
28
40
60
3,099
485
3,780
412
312
1,768
920
120
221
26
408
17
32
212
40
D
(D)
( )
9
378
17
( )
208
39
D
(D )
( )
( )
14, 552
1,215
127
1,164
1,381
602
3,035
1,862
156
29
255
261
35
123
3,413
373
227
(D)
53
242
1,128
17,362
1,377
192
1,409
1,762
708
3,827
2,046
21C
33
290
293
31
151
1,901
170
29
285
289
27
(D)
473
1,676
2,046
1,283
746
806
55
153
242
415
93
44
670
78
( )
164
16
185
589
1,833
2,413
1,524
798
930
72
(D)
280
(D)
46
76
62
172
279
(D)
42
56
7,556
371
228
683
6,274
615
135
220
23
237
5,244
579
1,436
549
2,679
9,729
523
276
865
8,066
762
111
219
26
406
645
91
219
11
324
Rocky Mountains . Colorado
Idaho Montana
Utah
W"yoming
1,620
484
59
250
377
450
662
(D)
5
26
D
( )
77
9,392
1,828
486
2,741
2,087
2,250
2,087
683
67
305
480
552
716
290
19
39
270
99
Far West
.
California
Nevada
Oregon _
Washington
4,968
4,114
58
150
646
(D)
201
D
(D)
( )
26
2,146
(D)
1,258
7
(D)
6,790
5,605
130
183
871
653
297
291
48
17
(D)
54
(D)
691
(D)
(*)
1,462
(D)
(D)
558
357
3,330
(D)
-----
61, 696
6,040
28,951
1,822
488
238
625
167
164
140
(D)
(D)
(*)
(D)
(*)
Mideast.
Delaware
District of Columbia
Maryland
New Jersey
New York
Pennsylvania
8,621
316
56
812
2,827
2,650
1,960
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
Arizona
New Mexico
Oklahoma
Texas
-
..
-
-
Alaska
Hawaii
Puerto Rico
Other territories and offshore
Foreign
__
(D)
D
530
( )
2,472
(D)
(D)
3
3
3
(*)
49
(*)
D
(D)
3
3
3
(*)
25
D
(D)
( )
1
1
0
Land*
Mineral
rights
Gross
book
Land
value of
and
other
mineral property,
rights
plant,
leased
and
equipment '
Thousands of acres
Millions
of dollars
93,725
7,128
7,162
5,995
1,167
33,246
2,582
721
316
876
224
233
212
150
41
26
57
5
11
10
(D)
(D)
(D)
(D)
(*)
4
(*)
25
(•)
(D)
()
(D>
1
35
95
12,091
352
161
1,256
3,742
3,684
2,895
784
18
47
85
245
235
153
410
(D)
(*)
27
25
(D)
201
347
(D)
(*)
25
25
134
D
( )
(*)
(D)
(D)
1,963
381
(D)
(D)
90
18
12,064
3,641
1,293
2,993
2,971
1,166
645
271
67
118
148
41
544
48
18
81
D
(D )
( )
(D)
(D)
5
5,487
2
386
24
44
134
4,395
503
4,474
618
382
1,909
1,074
155
299
37
209
34
21
67
60
16
10
1
445
20
45
219
56
D
(D )
( )
9
408
20
26
(D)
56
D
(D )
( )
145
46
5
5
4
4
D
( )
4,357
260
(D)
622
56
309
1,385
21,413
1,533
235
2,045
2,398
759
4,874
1,943
72
41
672
237
32
209
2,146
232
46
320
340
12
165
2,001
181
41
315
335
11
162
10
20
644
78
( )
409
17
298
645
2,101
3,014
1,828
985
1,005
82
162
189
83
135
29
73
(D)
301
(D)
55
78
63
(D)
298
(D)
51
60
117
20
(*)
14
83
5,166
520
1,181
666
2,800
12,743
797
343
1,084
10, 520
1,475
194
95
127
1,058
952
112
182
26
633
829
94
181
13
541
581
262
( )
23
10,350
1,678
498
3,356
2,633
2,184
2,603
962
101
347
561
633
343
156
13
26
71
77
673
219
(D)
95
254
(D)
553
187
4
67
D
(D )
( )
(D)
(D)
(D)
136
28
( )
15
(D)
(D)
434
D
(D)
(D)
( )
17
219
(D)
D
(D)
( )
(•)
2,319.
652
1,360
D
( )
12,409
10,883
165
267
1,095
1,297
1,095
55
33
114
939
467
(D)
(D)
20
640
D
(D)
(D)
( )
20
(D)
(D)
(D)
1,913
(D)
(*)
1,040
0
(D)
576
362
4,086
(D)
19
127
28
108
(*)
(D)
(D)
(D)
(D)
(D)
3
3
3
(*)
(D)
(D)
(>)
o
0
(*)
D 0
()
39
16
72
52
D
D
1
1
0
* Less than 500 acres or $500,000.
D
Suppressed to avoid disclosure of data of individual companies.
1. Excludes banks.
2. The gross book value of land and acres owned and leased are understated because some
affiliates failed to consolidate fully in their reports data for certain affiliates that were joint
ventures or partnerships formed to own or lease land: they included only their interest in,
rather than 100 percent of, the land owned or leased by these joint ventures or partnerships.
3. Includes the value of land carried as "fixed assets" or as "other current assets" in the
balance sheet. Also note that the gross book value of "land" and "other property, plant, and
Total
Millions of dollars
74, 143
Total
New England
Connecticut
Maine
M assachusetts
New Hampshire
Rhode Island
Vermont
Land and mineral rights
owned
92
(D)
(D)
(D)
(D)
o
0
2
3
<*)
(D)
(D)
30
(*)
(D)
D
(D )
(D)
1
2
134
(*)
(*)
D
(D)
D
0
0
0
0
(D)
9
( D ),
1
0
(D)
9
4
(D)
0
0
0
0
D 0
63
8
(*)
(*>
86,598
2,433
680
290
818
219
222
203
1
0
1,767
D
(D)
(D)
( )
106
28
11,418
3,370
1,226
2,875
2,823
1,125
5
5,459
2
389
25
48
142
4,360
493
4,265
584
361
1,842
1,014
139
289
36
145
50
5
5
4
1
3
4,358
249
D
(D)
( )
43
277
D
( )
19,470
1,461
194
1,372
2,162
726
4,666
10
18
717
81
( )
418
17
367
564
1,938
2,826
1,745
841
976
124
18
(*)
13
92
6,147
516
1,738
748
3,145
11,268
602
248
956
9,462
120
32
9,801
1.907
'495
2,989
2,400
2,011
2,260
806
87
321
490
556
299
(D)
162
(D)
1
2,664
(D)
1,446
36
(D)
11, 112
9,788
109
234
9S1
(D)
45
18
79
63
(D)
102
11,307
334
114
1,171
3,497
3,449
2,742
1,789
(D)
(*)
1,097
1
(D)
(*)
0
2
3
(*)
(D)
(D)
(D)
(*)
(D)
(*)
(D)
(D)
(D)
37
0
19
3
29
0
0
0
0
138
(*)
(*)
(D)
D
450
334
3,978
(D)
equipment" are not shown separately because in reviewing the data, it was found that these
data were inconsistently reported by the affiliates.
4. Consists of land for which surface rights are owned: mineral rights to the land may not
be owned.
5. Includes the value of land owned that is carried in all balance sheet accounts.
6. "Other property" includes the value of mineral rights owned and the capitalized value
of mineral rights leased.
7. Land and other property, plant, and equipment carried on the books of U.S. affiliates
but located abroad.
SURVEY OF CUEEENT BUSINESS
52
Table 14.—Employment and .Wages and Salaries of U.S. Manufacturing Affiliates, 1977-79
Employment l
Total
Wages and salaries
Produc- Nonprotion
duction
workers a workers 2
Number
Table 15.—Exploration and Development
Expenditures of U.S. Affiliates, 1977-79
Addenda: for production workers
Produc- Nonprotion
duction
workers 2 workers
Total
May 1981
Millions of dollars
Annual
hours
per
worker
Hours
Wages
and
salaries
per hour
Dollars
[ Millions of dollars]
1977
Total
Mining
Petroleum..
Manufacturing. _
Other
1978
1979
1,621
1 541
1 746
62
1 384
156
19
95
1 206
215
25
104
1 502
113
27
1977
639,438
\Ianufacturinjj, total
FQod and kindred products
Paper ard allied products
Chemicals
Industrial . _ _ _ .
Drugs
Other
.
_ .
Primary metal industries
Fabricated metal products Machinery, except electrical
Electric and electronic equipment
Other
_
401,360
238, 078
8,475
4,390
4,085
1,897
5.77
78, 929
14, 713
182, 457
135, 919
24, 269
22, 269
53, 476
11, 172
98, 041
78, 526
9,970
9, 545
25, 453
3, 571
84, 116
57, 393
14, 299
12, 724
957
217
2,630
1, 849
420
360
558
150
1,118
875
117
126
399
67
1, 512
975
303
235
1. 622
2. 054
?,028
2. 037
1,987
1,996
6.44
6.52
5.62
5.47
5.92
6.59
61,539
19, 430
49, 574
88.087
144, 679
44, 124
13, 339
28, 330
49, 516
103,362
17,415
6,091
21, 244
38, 571
41, 317
915
259
725
1,048
1,723
577
161
364
411
1,051
339
98
361
638
672
1,923
2,017
1,853
1, 870
1,896
6.80
5.99
6.94
4.44
5.36
1978
Manufacturing, total
Food and kindred products
Paper and allied products
Chemicals. _
Industrial
Drues
Other
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electric and electronic equipment
Other
735,370
473,094
262, 276
10, 578
5,687
4,891
1,922
6.26
92, 638
14, 371
197, 853
144, 907
29, 205
23, 742
60, 915
10, 495
111, 629
89, 325
12, 118
10, 186
31, 723
3, 876
86, 224
55, 582
17, 086
13, 556
1,177
237
3,048
2,111
525
413
677
162
1, 255
9b8
144
143
499
76
1,794
1,143
381
270
1.720
1,976
1,976
1,982
1,947
1,953
6.43
7.79
5.69
5. 476.10
7.19
52, 511
25, 093
64, 126
104, 054
184, 724
37, 041
15, 961
39, 083
64, 719
133, 251
15, 470
9,132
25, 043
39, 335
51, 473
862
377
1,010
1, 335
2,532
585
211
5-19
651
1,599
278
166
461
684
933
2,019
1,946
1,950
1,902
1, 932
7.82
6.78
7.21
5. 28
6.21
1979
Manufacturing, total
Food and kindred products
Paper and allied products
Chemicals
Industrial. . _
Drugs
Other
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electric and electronic equipment
Other
917,693
551,688
366, 005
14, 098
7,378
6,720
1,856
7.21
116, 997
19, 616
232, 425
172, 265
33, 102
27, 058
84, 743
14, 455
92, 947
67, 237
13, 772
11,938
32, 254
5, 161
139, 478
105, 028
19, 330
15, 120
1,437
364
3,704
2, 588
610
507
849
241
1,327
971
180
175
588
123
2,378
1,616
430
331
1, 384
1,989
1.999
1,990
1,963
2,092
7. 24
8.38
7.14
7.26
6.66
7.02
66, 866
36, 752
84, 769
121, 251
?39, 017
47,064
23, 936
52, 283
75, 273
160, 987
19. 802
12, 816
32, 486
45, 978
78, 030
1, 131
591
1,430
1,669
3, 771
761
332
808
824
2, 236
370
260
622
845
1, 531
1,959
1,926
1,954
1,872
1, 929
8.26
7.20
7.91
5. 85
7.20
1. Average number of full-time and part-time employees.
2. For 1977 and 1978, a few manufacturing affiliates that also had nonmanufaeturing operations included as production
workers some production workers engaged in norimanufactunng as well as manufacturing activities. In 1979, affiliates were
required to report only production workers engaged in manufacturing.
this article cover existing affiliates as
Technical Note
well as newly acquired or established
BEA recently published an article businesses, and reflect changes due to
presenting preliminary data on U.S. liquidations and sales of affiliates. In
business enterprises newly acquired or addition, the data for the newly acestablished by foreign direct investors quired or established businesses themin 1979.11 Unlike that article, data in selves differ in the two articles. In this
article, for U.S. businesses acquired or
11. See International Investment Division, "U.S.
Business Enterprises Acquired or Established."
established in 1979, the data shown are
Data for 1980 and revised data for 1979, will be
for (or as of the end of) 1979. In the
presented in a forthcoming issue of the SURVEY.
other article, for U.S. businesses acquired in 1979, the data shown are for
(or as of the end of) 1978, and for newly
established businesses, the data shown
are projected for (or as of the end of)
the first full year of operation.
These differences reflect differences in
filing requirements for the surveys from
which the data in the articles were obtained. The due date for the survey from
which the 1979 data in this article were
obtained was August 31, 1980. The due
date for the survey on newly acquired or
established businesses is 45 days after
the transaction takes place. Thus, for
many acquisitions and establishments
that occurred during 1979, reports were
required to be filed before yearend, so
that it was impossible for reporters to
supply data for 1979.
In addition, data relating to a given
newly acquired or established business
may be classified in different industries
in the two surveys. In the survey for this
article, data for a business newly acquired or established by an existing affiliate are included in the consolidated
report of the existing affiliate if that affiliate owns more than 50 percent of the
newly acquired or established business.
Therefore, data for the acquired or established business appears in the industry in which the consolidated entity is
classified. In the survey for the other article, data for each newly acquired or
established business are reported separately. Thus, industry classification is
based on the industry of the newly acquired or established business alone.
May 1981
SURVEY OF CUREENT BUSINESS
53
Quarterly and Monthly Constant-Dollar Manufacturing and Trade Inventories and Sales
Quarterly estimates of constant-dollar inventories, sales, and inventory-sales ratios for manufacturing and trade, for 1980: II1981: I and monthly estimates for October 1980-March 1981 are shown below. Estimates for earlier periods are available on request
from the National Income and Wealth Division (BE-54), Bureau of Economic Analysis, U.S. Department of Commerce, Washington,
D.C. 20230.
Table 1.—Manufacturing and Trade Inventories in Constant Dollars, Seasonally Adjusted, End of Period
[BiUions of 1972 dollars]
1980
II
III
IV'
I?
Nov.
Oct.
1981
Dec. r
Jan.
Feb.
Mar.p
264.7
Manufacturing and trade
Manufacturing.
1980
1981
_.
_
_ __
_-
264.2
263.0
262.5
264.3
264.1
263.0
262.9
263.0
262.5
147.2
145.9
145.0
146.1
145.2
145.1
145.0
145.6
145.9
146.1
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
Nondurable goods
Groceries and farm products __ __
Other nondurable goods. _ _ _ _ _ _
Retail trade _ . .
_
_ __ _
_ _ _ _ _ _
99.5
13.4
12.0
24.9
15.0
17.7
16.5
99.0
13. 1
11.7
24.9
15.0
18.0
16.4
98.9
13.0
11.9
24.2
14.9
18.6
16.3
99.5
13.5
11.7
24.2
15.1
18.4
16.5
98.5
13.0
11.6
24.5
15.0
18.1
16.3
98.6
13.0
11.7
24.5
15.0
18.1
16.3
98.9
13.0
11.9
24.2
14.9
18.6
16.3
99.3
13.3
11.9
24.2
15.0
18.6
16.3
99.4
13.4
11.8
24.3
15.1
18.4
16.4
99.5
13.5
11.7
24.2
15.1
18.4
16.5
47.7
12.3
35.3
4.3
9.1
33
3.2
15.4
46.8
12.3
34.5
4.2
8.8
33
3.1
15.2
46.1
12.0
34.1
4.2
8.6
32
3.0
15.1
46.6
12.0
34.7
4.3
8.8
3.4
3. 1
15.1
46.7
12.2
34.5
4.2
8,7
3.2
3.1
15.3
46.5
12.1
34.4
4.2
8.8
3.2
3.0
15.2
46.1
12.0
34.1
4.2
8.6
3.2
3.0
15.1
46.2
11.9
34.3
4.2
8.7
3.2
3.0
15.1
46.5
12.0
34.5
4.3
8.8
3.2
3.1
15.1
46.6
12.0
34.7
4.3
8.8
3.4
3.1
15.1
52 9
Durable goods
Primary metals
Fabricated metals .
_ _
Machinery, except electrical .__
Electrical machinery
Transportation equipment
Other durable goods '
53.3
53.4
52.9
53.5
53.6
53 4
53.0
53.1
52.9
35 3
17.6
6.8
10.7
35.3
18 1
7.2
10.9
35.5
17.9
7.2
10.7
35.3
17.6
6.8
10.8
35.2
18.3
7.4
10.9
35.4
18.2
7.2
10.9
35.5
17.9
7.2
10.7
35.0
18.0
7.2
10.8
35.2
17.9
7.0
10.9
35.3
17.6
6.8
10.8
64 7
Durable goods
_
Auto dealers
_
_
Other durable goods.
Nondurable goods
Food stores
Other nondurable goods
_ __
65 1
64 6
63 5
65 7
65.4
64.6
64.3
64.0
63.5
30.7
15.1
15.6
34 1
6.9
27 2
30.2
14.9
15.4
34 8
6.9
27 9
30.3
15.3
15.0
34 2
6.9
27 3
29.2
13.9
15.3
34 4
7.0
27 4
30.5
15.1
15.4
35.2
7.0
28.2
30.5
15.3
15.3
34.9
7.0
27.9
30.3
15.3
15.0
34 2
6.9
27.3
30.4
15.3
15.1
33.9
6.9
27.0
29.7
14.5
15.2
34.3
7.0
27.2
29.2
13.9
15.3
34.4
7.0
27.4
See footnotes to table 4.
Table 2.—Manufacturing and Trade Sales in Constant Dollars, Seasonally Adjusted Total at Monthly Rate
[Billions of 1972 dollars]
1981
1980
1981
1980
Dec.r
Mar. '
II
III
150 5
153 6
158 1
159 7
157 9
158 0
15S 4
159.4
158.9
160.8
70 1
71 5
74 1
74 2
74 2
73 9
74.1
74.0
74.1
74.5
Durable goods
Primary metals
Fabricated metals
Machinery, except electrical _
Electrical machinery .. .... ._•
Transportation equipment...
Other durable goods *
37 2
4 3
4 4
7 9
6.3
7 2
71
38 3
4 5
4 5
8 1
6.2
7 6
7 4
40 5
5.0
5 0
8 3
6.3
81
7 g
40 7
4.9
4 8
8.6
6.6
7.7
80
40.6
4.9
4.9
8.3
6.4
8.4
7.8
40.7
5.0
4.9
8.3
6.5
8.2
7.7
40.2
5.1
5.0
8.3
6.2
7.8
7.9
40.3
5.0
4.8
8.7
6.4
7.4
7.9
40.5
5.0
4.9
8.5
6.6
7.5
8.1
41.2
4.7
4.9
8.6
6.8
8.2
8.0
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
y> 9
11.0
21 9
26
6 0
2.5
1.9
9 0
33 2
11.0
22 1
2.6
61
2. 4
1.9
9 0
33 6
10.8
22 8
2.7
6 6
2.6
2.0
9.0
33 5
11.0
22.5
2.7
6 6
2.5
1.8
9.0
33.6
10.7
22.9
2.7
6 4
2.6
2.0
9.2
33.3
10.7
22.6
2.6
6.3
2.6
2.0
9.0
33.8
11.1
22.8
2.7
7.0
2.5
1-9
&8
33.8
11.0
22.8
2. 7
6.7
2.7
1.9
8.9
33.5
11.1
22.5
2.7
6.5
2.5
1.8
9.0
33.3
11.0
22.3
2.7
6.6
2.3
1.7
9.0
36 2
36 8
38 4
38 7
38 3
38.2
38.6
38.6
37.7
39.7
16
19
10
9
16
19
10
9
9
9
4
6
17.8
20 5
10 7
98
18.1
20 6
11 1
9.5
17.7
20 6
10.7
9.9
18.1
10.4
9.7
17.7
20.9
11.2
9.7
17.6
21.0
11.3
9.7
18.0
19.8
10.7
9.1
18.7
21.0
11.3
9.7
44 2
45 3
45 7
46 8
45 4
45.9
45.7
46.7
47.1
46.6
14
7
6
09
9
20
15
8
6
30
9
20
15 4
8 4
7 0
30 3
9 4
20.8
16 4
9 1
7.3
30 4
9 5
20.9
15.2
R.4
6.9
30 1
9.4
20.8
15.6
8.5
7.1
30.4
9.5
20.9
15.4
8.2
7.2
30.4
9.5
20.9
16.3
8.9
7.4
30.4
9.4
21.0
16.6
9.3
7.3
30.5
9.5
21.0
16.4
9.1
7.2
30.2
9.6
20.6
Manufacturing and trade
Manufacturing..
_
Merchant wholesalers
Durable goods
Nondurable goods
_
Groceries and farm products . ._ ,,
Other nondurable goods...
Retail trade
Durable goods.
Auto dealers
Other durable goods. .Nondurable goods
Food stores
Other nondurable goods
See footnotes to table
http://fraser.stlouisfed.org/ 4.
Federal Reserve Bank of St. Louis
4
S
8
o
2
g
7
9
7
3
IV r
3
5
8
0
6
4
IP
Oct.
Nov.
20; 1
Jan.
Feb.
SURVEY OF CURRENT BUSINESS
54
May 1981
Table 3.—Constant-Dollar Inventory-Sales Ratios for Manufacturing and Trade, Seasonally Adjusted
[Ratio, based on 1972 dollars]
1980
II
1981
IV'
III
IP
1980
Oct.
1981
Nov.
Dec.'
Feb.
Mar. P
1.76
Durable goods
Primary metals
Fabricated metals
_ __
Machinery, except electrical
Electrical machinery
Transportation equipment
Other durable goods l
--- —
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
Nondurable goods
Groceries and farm products
Other nondurable goods
-
-
-
-
1.67
1 66
1 65
1 66
1.96
1.97
1.96
1 96
1 96
1 97
1 07
1 96
2.59
2.94
2.60
3.08
2.42
2.36
2.21
2.44
2.59
2.39
2.92
2.35
2.29
2.09
2.45
2.74
2.42
2.81
2.30
2.39
2.07
2.43
2.67
2.35
2.97
2.35
2.15
2.10
2.43
2.58
2.38
2.94
2.33
2.21
2.11
2.46
2.54
2.36
2.93
2.41
2.39
2.08
2 47
2 63
2.49
2 78
2 35
2 50
2.07
2
2
2
2
2
2
2
2
2
2
2
2
2
2
1.41
1.11
1.56
1.59
1.43
1.37
1.59
1.68
.37
.11
.50
.56
.32
.26
.56
1.39
1.14
1.51
1.56
1.35
1.26
1.55
1.65
1.40
1.13
1.52
1.60
1.39
1.23
1.52
1.68
.36
.08
.50
.55
.24
.30
.63
.72
.37
09
.51
.60
31
.21
1.67
1.39
1.09
1.54
1.62
1.35
1.35
1.71
1.68
1.60
1.70
1.46
_
1.67
2.04
1.45
1.39
1.37
1.40
1.41
1.38
2.15
__ _
1.64
.45
.13
.61
.64
.53
.33
.73
.71
_
1.66
2.67
3.13
2.72
3.15
2.38
2.46
2.32
Manufacturing
1.72
2.10
Manufacturing and trade
2.09
1.99
1.95
1.99
1.96
2.00
.87
.67
1.13
1.09
1.47
1.44
1.41
2.16
2.00
2.34
1.14
1.98
1.74
2.27
1.16
1.97
1.85
2.13
1.13
1.37
1.31
1.31
.89
.63
-
---
Durable goods
Auto dealers
Other durable goods
Nondurable goods
Food stores
Other nondurable goods
.91
.70
1.19
-
Retail trade
- -
__ _.
-
.74
.72
.71
1.34
.85
.62
.89
.69
.91
.70
.86
.65
Durable goods
Nondurable goods
Durable goods
Nondurable goods
Retail trade
Durable goods
Nondurable goods
-
___
__
1.89
1 20
1 11
.86
.64
.91
.66
.84
.60
1.45
1.43
1.41
1.38
1.36
1.36
1.96
1.80
2.16
1.15
1.97
1.87
2.09
1.13
1.86
1.72
2.04
1.12
1.79
1.57
2.09
1.12
1.78
1.52
2.11
1.14
1.36
1.34
1.31
.74
74
.74
.73
III
1981
IV *
IP
1.71
1.65
2.04
1.94
1.97
2.66
1.48
2.56
1.43
2.41
1.39
2.43
1.42
1.46
___
1.33
1.96
2.00
1.80
2.25
1.17
1.77
-
1.41
1.99
1.36
2.11
^Merchant wholesalers
1.37
1.78
1.52
2.10
1.13
II
_ _ _ _ _
1 40
1 09
1 56
1 62
1 35
1 46
1 77
1 67
1 11
1980
_
1.39
1 08
1.53
1 60
1 36
1 29
1 73
1 67
1.10
[Ratio, based on 1972 dollars]
Manufacturing
42
86
40
81
24
25
07
1.13
Table 4.—Fixed-Weight Constant-Dollar Inventory-Sales Ratios for Manufacturing and
Trade, Seasonally Adjusted
IVIanufacturing and trade
45
68
43
85
30
45
03
1 63
1.10
1.13
See footnotes to table 4.
Jan.
1.43
1.38
1.35
2.16
' .88
2.09
1.99
1.95
.87
.85
1.45
1.40
1.38
1.31
2.13
1.11
1.95
1.12
1.95
1.09
1.75
1.09
.89
1.63
* Kevised.
p Preliminary.
1. Includes lumber and wood products; furniture and fixtures; stone, clay, and glass products; instruments and related
products; and miscellaneous manufacturing industries.
2. Includes tobacco manufacturers; textile mill products; apparel products; printing and publishing; and leather and
leather products.
*
NOTE.—Manufacturing inventories are classified by the type of product produced by the establishment holding the
inventory. Trade inventories are classified by the type of product sold by the establishment holding the inventory.
Table 4: The I-S ratios shown in this table were obtained by weighting detailed industry I-S ratios by 1972 sales. For
manufacturing, 20 industries were used; for merchant wholesalers, 20 kinds of business; and for retail trade, 8 kinds of business.
.74
1.29
.74
1.30
.73
1.33
CURRENT BUSINESS STATISTICS
THE STATISTICS here update series published in the 1977 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY OF CURRENT
BUSINESS. That volume (available from the Superintendent of Documents for $6.25) provides a description of each series, references to sources of earlier figures,
and historical data as follows: For all series, monthly or quarterly, 1973 through 1976 (1966-76 for major quarterly series), annually, 1947-76; for selected
series, monthly or quarterly, 1947-76 (where available).
The sources of the data are given in the 1977 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and are also listed
alphabetically on pages 181-182. 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.
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1978
1979
1980
Annual total
1978
II
III
1979
IV
I
II
1980
III
1981
I
IV
II
III
IV
8231
3387
1709
16.78
48.44
4 01
1 20
0.91
094
9.62
753
2 10
22.09
9.67
I
II
GENERAL BUSINESS INDICATORS—Quarterly Series
NEW PLANT AND EQUIPMENT
EXPENDITURES t
Unadjusted quarterly or annual totals:
Total nonfarm business
...
.
bil $
Manufacturing
do
Durable goods industries f[
do....
Nondurable goods industries H
do....
Nonmanufacturing
do....
Mining
do
Railroad
.
... ....
...
do
Air transportation
do....
Other transportation
do
Public utilities
do....
Electric
do
Gas and other
do
Trade and services
do
Communication and other
do....
Seas. adj. quarterly totals at annual rates:
Total nonfarm business
do
Manufacturing
do
Durable goods industries
fl
do....
Nondurable goods industries
fl
do
Nonmanufacturing
do. ..
Mining
do....
Railroad
do
Air transportation
..
do
Other transportation
do
Public utilities
do
Electric
do....
Gas and other
do
Trade and services
do
Communication and other
...
do
U.S. INTERNATIONAL TRANSACTIONS
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. assets abroad
do....
Other services
do
Imports of goods and services
do ..
Merchandise, adjusted, excl. military
do....
Direct defense expenditures
do
Payments of income on foreign assets in the
US
..
mil $
Other services
do
Unilateral transfers (excl. military grants), net
mil $
U S Government grants (excl military)
do
Other
do
U S assets abroad net . .
do
U S official reserve assets net
do
U.S. Gov't assets, other than official reserve
assets net
mil $
U S private assets net
do
23124
7972
40.43
39.29
151.52
1021
348
3.09
4 10
29.95
2463
532
68.66
32.02
See footnotes at end of tables.
'6926
2618
1331
12.87
43.08
354
086
0.94
083
8.13
662
1 51
19.59
9.20
'7973
3157
15.89
15.68
48.16
397
1 17
0.99
1 05
9.49
741
2.08
21.03
10.47
340,887
221 781
5847
1993
10.24
9.69
38.55
264
089
0.72
105
7.57
604
154
1734
8.35
6757
2445
1246
12.00
43 12
290
098
0.83
1 22
883
728
1 55
1947
890
5726
1965
1004
9.61
3761
259
086
0.80
082
7 19
6 15
1 05
1763
7.72
6681
2368
1231
11.37
43 13
281
100
1.19
1 08
858
705
153
1976
8.70
6839
2493
12.99
11.94
43.47
287
104
0.91
1 18
8.80
703
1 77
1987
8.79
7799
3042
1573
14.69
4757
3 11
1 12
1.10
1 23
9.38
742
196
2201
9.62
65 18
24 10
1254
11.56
41.08
274
099
0.90
084
8.01
664
137
19.08
8.52
7402
2886
14.79
14.06
45.16
327
106
1.27
098
8.84
707
177
20.23
9.52
74 12
2898
14.49
14.50
45.13
350
100
0.93
107
8.97
689
208
20.38
9.28
23324
7996
41.09
3887
15328
10.48
354
308
405
30 16
24.66
549
6873
3324
24736
86 15
43.88
4227
161 21
1103
368
341
436
32 13
2665
548
7332
3328
25555
9075
46.38
4437
16480
11.23
390
349
4.04
3240
26.85
555
7603
3371
26524
9471
49.25
4547
17052
11.01
383
403
416
3402
27.88
6 14
7903
3444
273 15
100 11
52.13
4797
173.04
11.40
4 13
395
4.60
35.05
28.71
635
7886
3505
28430
10657
55.03
51 55
177.73
11.86
424
455
4.41
3408
27.16
692
8269
3590
291 89
11177
58.28
5349
180.13
11.89
446
3.90
4.11
36.26
28.98
728
82 17
3734
29436
11569
59.38
5632
178.66
12.81
406
4.27
3.76
35.03
27.91
712
8107
3766
29623
11640
58.19
5821
179.83
13.86
398
406
4.18
35.58
28.14
744
81 19
3697
29958 '310 10 '317 29
11863 121 17 126.68
63.84
61.67
59.77
6284
5886
5951
180.95 188.93 190.61
15.57
15.28
15.36
387
446
454
3.32
3.77
407
4.05
3.39
4.06
34.96
37.65
36.89
29.26
27.54
28.90
799
839
741
84 17
8433
8291
4034
41.39
36 11
54,156
35 404
56,432
36 828
61,131
38 900
65,668
41 806
67,764
42 816
74,782
47207
78,307
50239
85,521
54604
81,767
54605
86,015
56 181
87,586
56391
2093
2 122
1 758
8 240
7 194
2013
2 000
1 927 1692
1575
1497
7 470
2 055
2 051
42,972
65,970
9,957 10,557 12,851 14,263 15,250 18,050 18,407 20,824 16,620 18,756 19,830
76,029
7833
8784
9243
7771
8086
8596
8985
27772
31 289
6 740
7 034
7 599
35 608
7 329
-230 240 -281 560 -333 810 -56 951 -58 365 -60638 -62938 -67,864 -72,268 -78 490 -86,330 -82,882 -79,995 -84,603
-€2,108 -59,039 -62,536
-175,813 -211,454 -249,135 -43,699 -44,336 -45,715 -46,922 -50,876 -54,259 -59,397 -65,452
7354
2029
2 135
2419
2752 -2729 -2880
-8 469
1 752 1 874 2 048
2029
2275
10 779
-6343
-6532
-7225
-6762
-7980
-6980
-8731
-7 143
-9524 -10 762 -10518 -10,700 -11 514
7697 -7504 -7527 -7673
7294
-22 073
25001
-33 460
28 178
-43494
30 402
-5474
-6026
-5717
-6438
5055
-3 171
1884
-61 191
732
5666
-6 959
-3524
-4506
-2 142
2452
-61774 -84502
1 133 -8 155
1 307
-831
^476
-5749
248
1 383 1407
1552
1 233 1 313 1 324
1812 -1326 -1527 -2296
-899
-878
-762
-860
-887 -1,247
-949 -1,549
-772
-795
-747
-484
-529
-564
-578
518
-464
-665
-565
-461
-9977 -30 418 -7768 -15 300 -25,215 -13 492 -12,706 -25,708 -19,135 -26,951
2779
322
502 -1 109 -4279
182
3585
-649
3268
115
-4 644
-57 279
16 345
64 096
33293
30804
7897
Foreign assets in the U S net
do
Foreign official assets net
do
Other foreign assets net
do
Direct investments in the U S
do
Allocation of special drawing Tights
do....
Statistical discrepancy .
do
11354
Memoranda:
Balance on merchandise trade
do.... -33,759
Balance on goods and services
do
9204
Balance on goods, services, and remittances .... do... -11,088
Balance on current account
do
14 259
286,521
182 068
29563
11581
58.91
56.90
179.81
1351
425
4.11
382
35.44
28 12
732
81 79
36.99
5741
1958
989
9.68
3783
258
088
0.82
100
730
602
128
1729
7.96
22753
78 19
39.47
3872
14934
1010
334
279
386
2893
2379
5 14
6886
31 46
221,036
142 054
27046
9868
51.07
47.61
171.77
1138
403
4.01
431
33.96
2765
631
7926
34.83
3783
56858
24 319
37 575
14271
51845
9713
1,139
23765
5 in
71236
20 592
47 626
16 179
31 446
8204
1,152
35605
-29,386
4 961
2,819
705
-27,354
7 077
4,625
118
991
-766
991
1 102
925
1 257 1386
-4740 -8706 -29 609 -3081 -14 631 -27 228 -11 918
7 156 -4 129
3 010 -4 578
5 819
7214
-4 051
6407 24 941
2201
4025
775 17 069 28048
5789 -1221
4777 18368 -8744 -10 095
5273
9680 10945 16,502 19,152
5,246
6049 12292
3217
2564
2620
1 608 1 120 2812
2313
1,139
-833 11 202
3 190
3022 10375
9076 -3926
-8,295
2 795
-3,271
-4 102
-7,508 -6,815
1 933
493
-2,394
-25
3 166
-820
-5,116
2730
2,266
1 406
-8,060 -7,052
100
2514
-584
1,985
1 483 1 107
1467 -1 191 -1374 -1079
-7971 -25 019 -16,652 -21 593
2869 -4058 -8207
5458
7949 11 763 20720
7 194
7991
7628
7775
7215
174
3,771 13,092
14,409
3082
2437
1020
1666
1,152
5544
6981 20200
2,879
-9,158 -10,848
183
-809
-848 -1,374
1 735
2621
-7,503 -2,858
1 115 6020
-1,679
5,442
2 441
4493
-6,145
2983
2,236
687
S-l
S-2
SURVEY OF CURRENT BUSINESS
1980
1979
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
May 1981
1980
Annual
Mar.
Apr.
May
June
July
1981
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME BY SOURCE t
Seasonally adjusted, at annual rates: t
Total personal income
2,234.3 2,257.6
1,381.7 1,400.4
475.8
485.2
358.8
366.2
338.6
341.4
305.6
310.5
261.7
263.3
141.9
143.5
r
2,300.7 r2,317.7 r2 337 9 2351 1
1,943.8
2 160.2
2,101.0
2 102 1 2 114.1 2 127.1 2 161.2
2 179.4
2,205.7
Wage and salary disbursements, total
Commodity-producing industries, total....
Manufacturing
Distributive industries
do....
do....
do....
do....
1,236.1
437.9
333.4
303.0
1,343.7
465.4
350.7
328.9
1,322.9
463.2
349.9
324.1
1,317.8
458.8
346.2
322.6
1,320.1
455.4
342.6
323.5
1,323.2
453.7
340.9
323.3
1,326.3
452.5
341.0
325.5
1,342.4
460.0
346.7
329.4
1,356.8
467.7
352.5
332.6
Service industries
Govt. and govt. enterprises
Other labor income
Proprietors' income: $
Farm
Nonfarm
do....
do....
do. .
259.2
236.1
118.6
295.7
253.6
137.1
287.9
247.6
132.6
287.7
248.7
133.8
290.2
251.0
135.0
294.4
251.8
136.3
295.3
253.0
137.7
298.9
254.1
139.1
301.7
254.7
140.4
do
do
308
100.7
234
1072
244
106 1
238
1027
233
1010
228
101.0
224
105.1
220
106.3
21 9
111.4
30.5
486
209.6
249.4
80.6
1 892.9
31.8
544
2563
294.2
87.9
2 1126
31.6
31.8
31.4
31.6
31.3
547
532
537
54 1
547
2537
2589
260.4
2445
2483
284.6
309.7
271.9
275.9
281.4
87.0
86.2
85.6
85.8
86.2
2053 1 20547 20670 2 080.3 2,114.5
32.0
552
261.7
309.0
88.3
2,132.7
32.2
554
263.2
313.4
89.1
2,158.7
32.3
32.4
32.5
555
567
559
265.6
269.4
274.1
313.8
314.7
313.2
90.4
91.4
91.9
2,186.8 2,209.7 2,228.5
19438
302.0
1,641.7
15555
1,510.9
2123
602.2
696.3
2 1602
338.5
1,821.7
17204
1,672.8
2119
675.7
785.2
2 1010
325.9
1,775.1
16878
1,639.9
2119
6675
760.5
2 127 1 2 1612
336.3
334.2
1,793.0 1,824.9
16839 1 714.9
1,637.1 1,667.9
2106
1955
665.7
667.4
776.0
789.9
2 179.4
341.7
1,837.7
1 730.3
1,683.4
2105
674.4
798.4
2 205.7
346.5
1,859.2
1 742.4
1,695.2
2052
680.9
809.1
2 234.3
354.1
1,880.2
1 778.1
1,729.9
2223
690.5
817.1
2 257.6
359.9
1,897.7
1 800.3
1,752.0
2234
706.8
821.9
22766
363.5
1,913.1
18197
1,771.0
2242
713.1
833.7
do
43.7
46.4
469
467
463
45.8
45.9
45.9
46.2
46.5
46.7
47.1
47.4
47.7
482
do
10
12
10
10
10
10
10
10
10
16
16
16
11
1l
1i
1i
862
1013
874
1049
1162
109 1
1100
1074
1168
102 1
974
933
968
104 4
5.2
5.6
5.3
5.8
6.2
6.2
6.0
6.1
5.8
5.6
5.1
4.9
1,011.5
1,018.4
1,013.3
1,009.1
1,008.5
1,007.0
1,018.6
1,018.2
1,018.6
1,023.6
1,026.4
9309
146.6
3546
4296
935 1
135.8
3584
4409
936 1
138.3
3592
4387
9224
127.9
358 1
4364
9160
124.6
3553
436 1
9195
126.1
3563
437 1
931 1
134.8
3554
4408
9327
133.6
3562
4428
928.8
129.3
3532
4463
941.8
139.1
3560
4467
9476
139.0
3624
4462
951.1
139.2
3628
449 1
r
9588
146.0
r
3643
r
4485
r
958.3
146.8
r
3656
r
4460
9578
146.4
3628
4486
1623
1789
1752
1760
1769
1780
179 1
1805
1825
1837
1849
1862
1874
1882
1897
1967=100..
152.5
147.1
153.2
148.1
143.5
145.0
137.2
142.9
148.6
150.2
149.5
146.3
146.9
151.7
"153.2
e
do
do ..
do
do....
do
do...
do....
do
1500
1472
1508
155.8
1488
1422
160.5
1564
1468
145.4
1455
136.5
149 1
145.1
151.9
1477
1499
1480
1490
149.1
1489
1467
1568
1583
1450
143.7
1436
140.0
1450
143.9
149.7
1529
1422
141.2
1399
130.4
1436
1430
145.9
1456
1462
145.6
1459
132.9
151 1
145.2
148.4
1430
1408
139.7
1383
115.4
1475
141.6
144.8
1317
1463
144.7
1465
121.4
1566
142.1
152.2
1378
1525
151.2
1542
139.0
1603
147.1
157.0
1427
1518
150.4
1527
148.4
1543
147.2
157.3
1476
1487
147.3
1470
144.5
1480
147.7
153.8
150.7
1442
142.7
1393
132.2
1422
147.3
149.6
1497
1443
143.3
1413
133.6
1443
146.1
148.2
1509
1493
148.0
1466
142.1
1484
149.9
154.0
1555
P
1509
P
149.5
P
1488
P
147.8
P
149 1
P
150.6
P
156.1
P
1508
e
!49.1
1480
148.1
1480
e
!50.6
157.0
1555
1588
150.7
164 1
1415
P
bil. $
Rental income of persons with capital
consumption adjustment
Dividends
Personal interest income
.
Transfer payments
Less: Personal contrib. for social insur
Total nonfarm income
bil. $..
do
do
do....
do....
do
222
111.5
226
111.5
2,276.6
1,433.1 1,442.7 1,451.6
500.5 r500.3 r502.8
r
375.6 rr377.2 r379.3
352.6
348.4
354.2
r
322.6 r326.5
318.3
265.9
267.1
268.1
148.0
146.6
149.5
1,411.2
491.1
369.9
341.7
313.7
264.8
145.0
18.3
112.6
199
112.8
226
111.6
1,454.6
502.8
382.5
355.5
327.5
268.8
150.9
18 1
113.8
208
112.8
32.7
32.5
32.9
33.1
574
582
583
594
2973
281.8 r289.1 rr294 1
r
318.4
318.4
322.2
324.7
102.3
101.9
102.5
102.5
2,254.8 r2,273.1 r2 293 0 23030
r
DISPOSITION OF PERSONAL INCOME *
Seasonally adjusted, at annual rates:
Total personal income
..
Less: Personal tax and nontax payments
Equals: Disposable personal income
Less: Personal outlays .
Personal consumption expenditures
Durable goods
Nondurable goods
Services
Interest paid by consumers to
business ... .
Personal transfer payments to
foreigners (net)
bil $
do....
do....
do
do....
do
do.
do....
Equals* personal saving
do
Personal saving as percentage of disposable
personal income §
percent..
Disposable personal income in constant (1972)
dollars
bil. $..
Personal consumption expenditures in
constant (1972) dollars
do
Durable goods
do....
Nondurable goods
do
Services
do
Implicit price deflator for personal consumption
expenditures
. index 1972—100
2 102 1 2 114 1
326.6
330.3
1,775.6 1,783.8
16707 16677
1,623.0 1,620.3
196 1
1917
665.0
661 3
761.8
767.3
r
2 300 7
369.3
1,931.4
1 845.0
1,796.4
r
2366
r
719.7
r
840.1
r
r
2,317.7
r
371.6
1,946.1
1,852.9
1,804.0
r
237.7
r
727.2
r
839.1
r
864
r
2r 337 9 2351 1
374.8
376.8
1,963.1 1,974.2
1 866 3 18698
1,817.0 1,820.3
r
2376
2266
r
7286
736 1
r
850.8
857.6
r
933
4.7
5.0
1,027.4 1,030.8 1,033.8
484
1,034.8
4.7
INDUSTRIAL PRODUCTION U
Federal Reserve Board Index of Quantity Output
Not Seasonally Adjusted
Total index
By market groupings:
Products total
Final products
Consumer goods
Durable consumer goods
Nondurable consumer goods
Equipment
Intermediate products
Materials ..
By industry groupings:
Mining and utilities
Manufacturing
Nondurable manufactures . ..
Durable manufactures
do
do....
do
do
1447
1504
1512
1450
143 1
149 1
151 9
157 1
1523
146.1
1494
154 1
1597
153.6
1640
146 4
146.6
161 1
1366
153.5
1649
1456
148.5
1613
1397
143.6
157 1
1342
144.4
160 1
1335
135.1
1510
124 1
141.3
161 2
1276
148.0
1675
1346
150.6
1678
1387
149.5
1639
1395
145.1
1568
137 1
145.2
1573
1367
do....
152.5
147.1
152.1
148.3
144.0
141.5
140.4
141.8
144.1
146.9
149.4
151.0
151.7
1566
!52.6
1553
1466
P
153.1
P
1656
P
153.5
1658
1450
151.5
P
152.2
152.8
1524
e
!509
1497
144 5
Seasonally Adjusted
Total index
By market groupings:
Products, total
Final products
Consumer goods
do....
do
do...
1500
1472
1508
146.8
1454
145.5
1500
1477
1486
1466
1454
1453
143.7
143 1
1424
1425
1423
142 1
1428
142 4
1420
143.8
1428
1427
145.3
1439
1443
147.2
1458
146.6
148.7
1475
1480
149.9
1483
1477
150.3
1483
1472
150.0
1479
1470
P
151 2
P
149 4
P
do....
do....
do
do....
do....
155.8
167.7
1543
136.7
201.5
136.5
132.7
1099
103.4
190.4
144.1
1410
1220
1149
189.1
136.3
126.3
1023
97.1
187.2
128.8
118.5
926
88.4
184.0
128.2
121.6
97 1
95.7
183.7
128.3
1292
1064
1052
186.9
128.6
121.5
94 1
91.3
191.1
132.7
130.6
1055
98.0
194.2
139.6
141.8
1202
110.7
196.8
142.9
145.3
1243
114.3
198.6
141.3
139.1
1159
1053
198.0
138.8
127.1
998
900
196.6
139.0
129.2
1037
960
193.9
P
142.8
P
138.0
P
1166
P
1083
P
do
do....
do....
1492
127.4
173.0
1387
117.1
155.0
1458
122.1
169 1
1420
114.8
165.8
1346
102.8
154.2
1320
105.6
146.7
1277
102.3
136 1
1326
114.2
141.1
1340
116.3
146.1
1383
123.5
150.2
141 5
128.4
154.9
1426
126.8
156.3
145 4
131.2
156.8
144 4
124.2
159.9
P
1455
P
127.2
P
1453
124.3
do
do
do.
do....
do....
1488
1319
1535
145.0
163.4
149 1
1268
1553
147.0
165.0
1503
1318
1555
147.3
165.0
148 8
1287
1544
146.2
164.0
1477
1279
1532
146.1
161.5
1476
1267
1534
146.2
161.7
147 4
1225
1543
146.4
163.6
1483
1236
155 1
146.0
165.7
1489
122 1
1563
147.0
167.1
149 4
125 1
156 1
147.7
165.9
150 1
127 3
1564
148.0
166.2
1502
1237
1575
148.9
167.6
150 5
1223
1583
148.7
169.5
1502
1208
1584
149.0
169.2
P
150 8
152 0
P
1590
P
149.6
P
1602
.
do....
do....
do
do....
do....
142.2
171.3
1522
206.3
130.3
145.1
173.3
1570
241.3
128.5
146.6
176.1
1593
235.6
133.1
145.6
174.2
1593
239.5
131.9
144.0
171.9
1578
242.2
129.5
142.6
169.8
1552
241.0
126.1
142.9
170.1
1548
244.4
126.0
142.9
170.3
1545
243.6
124.4
143.2
170.5
1542
243.4
123.9
144.8
172.3
154 4
244.3
123.9
146.7
174.5
157 1
250.1
126.4
149.1
177.8
1607
255.7
130.6
149.8
178.9
1638
r
265.9
131.1
149.2
178.2
165 1
272.1
130.8
Commercial, transit, farm eq. #
Commercial equipment
Transit equipment
do....
do....
do....
193.4
228.1
151.6
192.1
237.5
139.4
195.5
240.4
142.5
191.5
235.6
143.0
188.2
232.0
136.3
186.7
228.8
138.0
187.8
229.0
140.9
188.4
233.6
138.4
189.4
237.2
133.8
192.8
242.0
135.0
194.7
244.0
136.6
197.6
248.3
137.9
196.3
r
249.6
131.7
193.4
r
250.9
123.1
P
195.6
P
252.2
P
198.3
e
254.4
130.9
do....
93.4
97.8
97.1
97.6
97.2
96.8
97.2
96.9
97.4
98.5
99.8
100.7
101.0
100.4
P
102.0
Durable consumer goods
Automotive products
Autos and utility vehicles
Autos
Auto parts and allied goods
Home goods
Appliances, air cond., and TV
Carpeting and furniture
Nondurable consumer goods
Clothing .
Consumer staples
Consumer foods and tobacco
Nonfood staples
Equipment
Business equipment
Industrial equipment #
Building and mining equip
Manufacturing equipment
Defense
and space equipment
See footnotes at end of
http://fraser.stlouisfed.org/ tables.
Federal Reserve Bank of St. Louis
1485
192.2
143.8
e
!41 3
e
!202
1132
194.7
161.0
170.0 '"•171.3
P
150.7 e
152.5
P
180.4
!82.6
P
167 2 -169 1
P
279.9 e285.1
P
131.5 132.6
127.6
100.8
S-3
SURVEY OF CURRENT BUSINESS
May 1981
1979
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1980
1980
Annual
Mar.
Apr.
May
June
July
1981
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
157.5
1473
1677
1540
150.4
114.8
1889
179.5
187.4
131 1
"157.7
P
1476
P
1677
e
!58.1
e
"1539
"152.2
"119.0
"1915
"176.9
"184.6
"1296
e
!53 4
e
!53.5
e
!21.9
e
!934
e
!77.3
e
!84.7
e
1547
142.7
1280
158.9
142.6
r
933
"1554
"142.9
"1275
"151.1
"144.3
"93.6
e
!52 1
e
1388
168.1
1868
151 1
166.3
151 2
125.1
135 1
125.9
156.7
146.7
r
220.9
1359
r
262.5
r
69.4
140.6
r
78.6
126.3
1530
154.0
114.3
1078
126.3
139 1
169.0
174.6
115.0
1175
1713
"1379
"169.3
"188.6
"1519
"165.6
"1518
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION H— Continued
Seasonally Adjusted — Continued
By market groupings—Continued
Intermediate products
1967=100..
Construction supplies
do....
Business supplies
do
Materials
Durable goods materials #
Durable consumer parts
Equipment parts
Nondurable goods materials #
Textile, paper, and chemical
Energy materials
By industry groupings:
Mining and utilities
Mining
Metal mining
Coal.
Oil and gas extraction #
Crude oil
Natural gas
Stone and earth minerals
160.5
158.0
163 1
do
do....
do....
do
do....
do....
do
1564
157.8
137.1
1899
175.9
183.7
1289
do
do....
do
do
do....
do
do
do
1447
125.5
1270
135.6
121.7
946
1092
1376
do....
do
166.0
1858
do
do....
do
1536
164.0
1475
....
do....
do
do
do....
117.8
1450
1344
151.0
Printing and publishing ....
Chemicals and products
Petroleum products
Rubber and plastics products
Leather and products
do
do....
do
do
do....
1369
211.8
1439
272.2
71.7
do....
do....
. do
146.4
75.2
1369
Furniture and fixtures
Clay, glass, and stone products
Primary metals
Iron and steel
.
Nonferrous metals
Fabricated metal products
Nonelectrical machinery
Electrical machinery
do
do....
do....
do
do....
do
do .
do....
1615
163.9
121.3
1132
135.8
1485
163.7
175.0
Transportation equipment
Motor vehicles and parts
Instruments
..
do....
do
do
135.4
1599
1749
.
Utilities
Electric
Manufacturing
Nondurable manufactures
Foods
Tobacco products
Textile mill products
Apparel products
Paper and products
Durable manufactures
Ordnance, pvt. and govt
Lumber and products
...
151.9
140.7
1629
1477
143.1
109.0
1873
170.7
177.0
1300
158.3
152.3
1643
1553
154.2
120.3
1992
177.0
185.2
1309
1504
132.9
109 1
146.7
133.8
947
111 0
131 7
169.9
1897
1466
161.1
149 2
119.8
1368
1286
151.0
1396
206.7
1349
255.8
70.1
136.6
77.9
1193
1500
146.5
101.6
91 7
119.2
1350
162.8
172.7
116.8
1188
1710
150.8
139.4
1620
151 0
148.2
110.6
1958
173.2
180.7
130 1
146.2
133.0
1594
144 3
139.8
100.1
1908
165.2
171.5
1296
151 4
133.0
1327
1372
131.8
96 1
117 0
1360
150 1
133.1
1235
1434
132.5
973
112 2
133 1
1496
133.4
1208
1450
133.9
96 1
111 6
128 1
172.0
1924
169.1
1879
167.7
1860
152 1
164.7
149 3
1479
161.6
1478
143 4
158.0
149 5
1222
1420
136 1
1527
121 9
1399
1313
148.2
1392
213.6
1407
2644
72.8
1365
209.1
1374
2618
69.9
143.4
76.9
1253
138.4
77.5
1052
1595
156.4
113.7
1059
128.0
1455
1665
179.2
157 1
148.8
106.4
974
122.0
141 4
1632
177.0
1162
137 1
1286
1457
1355
199.2
1330
248 1
70.1
133.3
77.9
1045
1495
140.8
96.1
123.8
130 1
1735
115.1
114 7
1738
844
116.4
1332
162 1
171.4
109.8
1059
1710
143.5
128.5
1584
1400
133.8
96.0
1825
159.6
1634
1304
150 1
132.9
1200
1500
133.2
955
107 1
1239
1693
1887
1403
155.3
149 0
1139
1336
1272
1462
1354
191.1
131 3
2429
68.5
129.9
77.5
1097
143 1
134.5
90.4
754
118.1
126 1
158.3
166.6
110.0
1067
1692
144.5
128.6
1604
1365
129.0
93.9
1776
156.2
158.5
1304
150 1
130.6
83 1
149.8
134.3
953
1060
1237
171.8
1924
139 1
154.7
1489
119.6
1325
121.5
143.6
138.6
190.3
1305
242.5
67.8
128.3
77.1
112.8
138.6
134.2
81.7
68.1
107.3
123.8
158.5
165.0
110.7
1079
167.5
147.6
133.1
1619
1386
131.3
98.1
1763
159.8
163.2
1300
1505
129.6
71 2
1549
133.6
933
105 1
1235
173.8
1954
1406
156.9
1483
117.4
1326
123.8
147.1
140.3
197.8
1267
245.9
67.7
129.4
77.2
121.7
141.1
135.7
86.0
75.3
104.5
125.8
158.8
166.7
108.3
104 4
167.6
150.6
137.4
1636
142 4
134.2
104.2
1760
169.7
175.1
1284
1505
130.5
73 1
1489
134.7
929
109 5
1282
172.7
1939
1434
160.3
1486
119.1
1330
126.7
152.3
140.3
206.8
1305
253.1
67.2
131.7
77.1
122.6
144.8
141.4
90.1
79.8
107.1
129.0
159.1
167.5
112.9
1134
167.4
152.4
140.5
1643
1464
140.4
110.8
1785
173.7
180.5
1272
1502
132.1
908
145.7
135.4
925
110 4
1290
170.4
1903
1464
161.8
1494
123.1
1338
127.5
153.0
141.5
209.1
130.1
259.2
70.2
135.8
79.1
122.2
147.2
145.2
100.6
93.3
113.1
132.8
161.1
170.0
118.8
1242
169.6
153.5
142.8
1642
1505
146.6
115.5
1840
174.1
181.0
1309
1528
136.0
1072
151.6
137.4
92.2
111 9
1330
171.5
191 5
149 1
163.3
1505
125.1
1350
128.0
154.4
142.7
212.0
131.2
259.6
71.2
139.3
79.6
124.9
147.2
147.8
113.4
107.4
123.2
134.1
163.4
173.0
121.7
1290
169.9
156.1
144.6
1675
1526
148.4
116.3
1858
178.8
186.5
1305
1540
139.3
1222
155.3
139.1
93.4
114 4
1378
170.3
1903
1506
165.0
1507
118.8
1339
125.1
156.8
144.9
218.8
137.5
259.2
67.8
140.6
79.5
122.0
149.0
151.4
112.1
103.5
127.2
1374
167.5
174.9
120.6
1263
172 1
r
!57.7
r
!47.4
1680
1538
150.2
116.2
1892
180.2
187.7
1302
1552
141.1
1263
150.3
141.5
r
93.7
1169
1400
171.0
191.1
151.1
165.2
1500
122.9
1338
125.9
157.2
145.5
r
219.2
137.3
258.2
68.9
141.4
r
78.9
126.3
150.5
154.9
113.9
108.0
124.9
137.6
168.9
177.9
117.3
1192
174.0
Mfg. and trade sales (seas, adj.), total $
Manufacturing, total t
Durable goods industries
Nondurable goods industries
Retail trade total §
Durable goods stores
Nondurable goods stores
Retail trade, total §
Durable goods stores
do....
do....
Merchant wholesalers total @
Durable goods establishments
Nondurable goods establishments
do
do
do
Mfg. and trade inventories in constant(1972)dollars,
end of year or month(seas adj.),total*
bil $
Manufacturing *
do
Retail trade *
do
Merchant wholesalers *
do....
317 148 300,289 300,850 303,481 294,795 306,603 321,031 338,522 324,830 343,565 319,367
423 878
453 239
426 796
228 258
151 689
76569
108,862
53,087
55 775
93 817
60291
33526
461 716
r
1497
69 7
439
36.1
150 1
695
444
36.2
1526
709
452
36.6
152 1
1560
702
454
733
454
36.5
37.3
1579
742
45.4
38.3
158.0
739
45.9
38.2
158.4
74 1
45.7
38.6
1589
r
74 1
r
47.1
r
37.7
159.4
740
46.7
38.6
r
442 957 445 528 445 801 447 031
244 493 238 522 242 540 243 402 243 630
161 907 157 127 159 877 160 607 160 404
82586 81 395 82663 82795 83226
111,694 108,841 110,252 109,837 109,768
51,853 r52,190 52,490 51,792 51,645
59 841 r56 651 57 762 58 045 58 123
105 529 95 594 96 654 97 351 98 328
67938 61878 62996 63553 64'025
37591 33716 33658 33798 34303
2646
1473
649
52.5
2660
148 1
652
52.8
2652
1477
649
52.7
264.7
147 2
64.7
52.9
449 510
244 105
160 875
83230
110,786
51,531
59255
99 618
63938
35680
451 951
243 517
161 081
82436
111,323
52,383
58 940
101 920
65387
36533
454 566
243 615
160 691
82924
112,840
52,238
60602
102 953
65461
37492
264.8
1472
64.8
52.8
264.4
1464
64.7
53.3
264.2
1459
65.1
53.3
456,532 457 986 461 716
242,876 244 090 244 493
160 137 160 977 161 907
82739 83 113 82586
114,381 113,940 111,694
52,687 52,804 51,853
61694 61 136 59841
104 293 105 203 105 529
65951 66955 67938
38,342 38,248 37,591
264.3
1452
65.7
53.5
264.1
145 1
65.4
53.6
263.0
1450
64.6
53.4
465 107
248,408
164 938
83470
111,790
52,234
59556
104 909
67319
37,590
r
262.9
145.6
r
64.3
53.0
"142.4
"78.9
"124.8
160.8
745
46.6
39.7
470,804 471,843
251,231 253,289
166 278 166 718
r
84 953 86571
r
113,507 113,340
r
52,374 51,757
r
61 133 61 583
106 066 105 214
r
68,482 68489
r
37,584 36,701
263.0
145.9
r
64.0
r
53.1
!66.2
!57.7
!47.8
e
!32 1
e
!43.6
e
79.9
"155 1
"151.9
"114.8 ""*'il5.3
"1074
"128.5 e
"1408
!426
"170.5 171.7
"177.3 e!78.6
"119.9 e!21.8
"1276 e!304
"1704 e!704
r
r
!89.7
e
!52.8
e
e
447 038 448 552 448 959 446 629 446 492 447 153 450 356 458 727 463 170 453 239 463 147 r470,687 475 753
r
e
!70.2
e
"147.1
"217.9
"1329
"263.7
"69.3
r
151 8
71 1
442
36.4
e
74.0
!46.5
e
e
r
1572
74 5
455
37.2
!35.9
"1345
326,486 354,939
do.... 3,461,382 '3,731,456 310,300 295,277 292,478 294,203 304,154 308,019 318,321 325,838 328,983 339,357 345,578 346,446 345,882
do.... 1 1,692,001 1 1,798,539 150,081 143,596 141,515 141,573 145,678 146,643 152,764 156,697 157,722 159,323 161,148 161,620 162,583
r
887 777
do
902 723 75 925 72207 69443 69056 72544 72057 76571 79,497 79,741 80027 80,259 r81,078 82397
804 224
do
895 816 74 156 71 389 72 072 72517 73 134 74586 76 193 77200 77981 79296 80889 80 542 80 186
r
1
do
886 047 '956 655 r77 603 75 Oil 74587 76001 78287 78770 80087 80609 82 125 83443 85463 r86 810 87 174
do
308 156 297 926 rr24 127 22821 22537 23212 25076 24821 25868 25,591 26524 25983 27075 r28,328 28233
do.... 577,891 658,729 53 476 52,190 52050 52,789 53,211 53,949 54,219 55,018 55,601 57,460 58,388 58,482 58,941
r
1915 163 1 1 043 886 82 616 81 245 80 471 81 714 85810 86889 90223 93282 93901 96591 98967 r98 016 96 125
do
do
410 079 438 439 35896 34 561 33688 34793 35 196 35353 36937 38,110 38,799 39,403 40,370 r41,511 40,077
do.... 505,084 605,447 46,720 46,684 46,783 46,921 50,614 51,536 53,286 55,172 55,102 57,188 58,597 56,505 56,048
1
Merchant wholesalers total @
Durable goods establishments
Nondurable goods establishments
Mfg. and trade sales in constant (1972) dollars
(seas adj ) total *
bil $
Manufacturing *
do
Retail trade *
do
Merchant wholesalers *
do....
BUSINESS INVENTORIES
Mfg. and trade inventories, book value, end of year
or month (unadj ) total $
mil $
Mfg. and trade inventories, book value, end of year
or month (seas adj ) total $
mil $
Manufacturing total 1"
.
do
Durable goods industries
do
Nondurable goods industries
do
See footnotes at end of tables.
r
r
mil. $.. 3,461,382 3,731,456
!238
"156.0
BUSINESS SALES
Mfg. and trade sales (unadj.), total $
!475
262.5
146.1
63.5
52.9
S-4
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1980
Mar.
Annual
May 1981
Apr.
May
June
July
1981
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS INVENTORY-SALES RATIOS
ratio..
1.41
1.44
1.43
1.51
1.52
1.52
1.48
1.47
1.43
1.40
1.39
1.37
1.35
.... do.
do....
do
do...
do....
1.52
1.91
061
0.82
0.47
1.61
2.12
066
095
0.51
159
2.07
066
091
0.4'9
169
221
071
098
053
1 72
231
073
1 03
0.55
1 72
2.32
073
1 04
0.56
168
222
069
094
0.53
166
2.24
068
101
0.54
159
2.10
064
096
0.50
1.55
2.02
061
0.92
0.49
1 55
2.02
061
092
0.48
1 53
202
062
093
0.48
154
2.06
063
095
0.47
do
do....
... do
do....
1.08
0.42
0.17
0.49
1.10
0.43
0 17
0.50
1 10
0.43
0 17
0.50
1 15
0.45
0 18
052
1 15
0.45
0 18
0.52
1.15
0.45
0 18
0.53
1 14
0.44
0 17
0.52
1 11
0.42
0 17
0.51
1.09
0.42
0 17
0.50
1.07
0.41
0 16
0.49
1 07
0.41
0 16
0.49
1 04
0.41
0 16
047
do....
do....
do...
1.45
2.08
1.11
1.41
2.09
1.10
1.40
2.16
106
147
2.27
108
1.44
2.29
108
1.41
2.18
107
1.38
2.04
108
1.38
2.10
106
1.39
2.06
108
1.39
2.06
109
1.36
2.00
107
do....
do....
do....
1.17
1.64
0.77
1.16
1.71
0.74
1.16
1.72
0.72
1.19
1.82
0.72
1.21
1.89
0.72
1.20
1.84
0.73
1.16
1.82
0.70
1.17
1.85
0.71
1.14
1.77
0.70
1.12
1.73
0.69
168
1.98
1 43
141
175
2.08
1 47
145
1 77
2.12
1 48
146
1.76
2.12
1 46
146
1 74
2.08
1 44
145
1 74
2.08
1 43
146
169
1.99
143
143
8 152
7,677
8047
7,842
7480
7,315
8278
7,543
7555
8,521
7276
7,983
9025
9,270
Manufacturing and trade, total $
Manufacturing total 1"
Durable goods industries
Materials and supplies
Work in process
Finished goods
.
Nondurable goods industries
Materials and supplies
Work in process
.
Finished goods
Retail trade total §
Durable goods stores
Nondurable goods stores
.
Merchant wholesalers, total @
Durable goods establishments
Nondurable goods establishments
Manufacturing and trade in constant (1972) dollars,
total *
do....
Manufacturing *
do....
Retail trade *
.
do
Merchant wholesalers *
do....
1.36
1.36
1 55
094
047
1 56
202
062
093
047
103
0.41
0 16
046
105
r
041
0 17
048
1 08
0.41
0 17
049
134
2.00
104
131
1.93
102
131
185
105
130
183
104
1.12
1.73
0.69
1.09
1 72
0.66
1.06
167
0.64
1.08
165
r
067
1.09
1 71
0.65
167
1.96
1 45
140
167
1 96
1 43
141
166
196
1 41
138
165
197
1 38
137
166
197
1 36
1 41
163
196
1 36
133
9216
8,941
9476
9,311
9910
9,493
r
205
r
064
r
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Manufacturers' export sales:
Durable goods industries:
Unadjusted total
Seasonally adj., total
.. mil. $
do....
82,988
98 114
do.... 1,692,001 1,798,539
Shipments (not seas, adj.), total t
Durable goods industries, total
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
Fabricated metal products
Machinery except electrical
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments and related products
do....
do....
do....
do....
do
do....
do....
do
do....
do....
887,777
48,185
140,122
68,663
109 463
157,695
110,713
194 461
129,364
36,253
902,723
49,509
137 984
64,447
111 466
169 318
123,390
179 187
106,030
42,026
Nondurable goods industries, total
Food and kindred products .
Tobacco products
Textile mill products
do....
do
do. ..
do....
804,224
234 828
12,173
46,992
895,816
252 071
13781
48,780
Paper and allied products
Chemical and allied products
Petroleum and coal products
Rubber and plastics products
do....
do....
do....
do....
66,033
149,181
134,041
44,742
70,991
162,390
175,533
43,995
Shipments (seas adj.), total t
By industry group:
Durable goods industries, total #
Stone clay and glass products
Primary metals
.
Blast furnaces, steel mills
do
157,049 146,692 143,186 149,249 134,602 144,426 158,671 162,189 156,659 152,455 148,161 162,524 169,835
80,897 74,464 71296 74,880 65,260 69249 79921 82,721 78679 76053 72215 r80 959 87621
3,999
4,208
3,946
3,954
4,249
4,590
4,010
4,640
4,331
3,968
4,584
3,759 r4,225
13355 12 133 10985 10674
9415 10253 11420 11777 11515 11305 11 663 12 588 12 916
r
6,477
5,002
4,740
4,117
5,217
5,681
4,531
5,603
5,733
5,819
6,279
5,926
6,568
9095
9693
9334
8719
8082
8984
9796 10310
9742
9 573
8 846 r9 891 10 538
15286 13768 13714 14999 12680 12829 14903 14825 13997 14922 14 153 15 560 16 974
10,778
8971 10062 10,955 11,229 10952 10375
9,909
9838 10,500
9784 11061 11550
16368 14959 13922 14309 12453 11 759 16079 17662 16538 15 Oil 13 895 15 935 18 649
9938
8059
9371 11 191 10 144
8724
7772
6842
6446
8487
8568 r 9675 11 319
r
3,719
3,574
3,807
3,217
3,318
3,091
3541
3,771
3759
3714
3324
3676
3935
76,152 72,228 71,890 74,369 69,342 75 177 78750 79468 77980 76402 75946 r81 565 82214
20942 19035 20013 20864 19843 21897 22790 22672 22427 22204 20 963 r22 271 22 291
1019
1 145 1065
1 187
1 137 1290
1 175
1216
1 206 1281
1*169
1*146
1*134
4,441
4,067
4,190
3,397
4,211
4,193
3944
4,303
4 138
3824
3886 r4317
4688
r
6,032
5,921
5,742
6,081
5,521
5973
6,241
6,160
5926
5720
5824
6448
6544
14,766 13,991 13,150 13,263 11,823 12758 14,247 13,977 13359 14301 14 146 15 352 16438
14,578 14,116 14,485 14,829 14,104 14,396 14,440 14,877 15,565 15,748 16,844 17,069 16,063
r
3,879
3,404
3,603
3,826
3,695
3,281
3,775
3,992
3,694
3,239
3,557
3,330
3,641
150 081 143 596 141 515 141 573 145 678 146 643 152 764 156 697 157 722 159 323 161 148 161 620 162 583
69443
3 808
10268
4675
69056
3798
9791
4,293
72544
4 063
10*258
4352
72057
3 930
10*604
4642
76571
4 288
11322
5227
79 497
4 285
11797
5776
79 741
4 383
12 284
6286
80 027
4 567
12 586
6635
80 259 r81 078
4 536 r4 614
12*530 12 493
6205 r6217
82 397
4 467
11*786
5838
do....
do...
do....
do....
do....
do
.
72207
3 944
11333
5,385
9,402
14046
10352
14,962
8,831
3643
9,134
13374
9878
14,276
8,232
3262
8,441
13538
10048
13299
7,259
3334
8,406
13822
9893
12,958
7,231
3348
8,659
13945
10067
14,932
8,856
3375
8801
13560
10283
14304
8,641
3536
9432
14594
10392
15339
8,746
3552
9,901
14749
10747
16,433
9,936
3 620
9944
14650
10813
16 117
9,679
3629
10233
14729
10384
15837
9,607
3 735
9818
15 562
10681
15342
9,061
3 691
10 097
15 248
10917
15 534
r
9,347
r
3 809
10 224
15 619
11 233
17*040
10,057
3 850
do....
do
do....
do
do
do....
do
do....
74 156
20364
1041
4 172
5863
13,079
14849
3,645
71389
19 104
1,203
4 178
5834
13,031
14 213
3519
72072
20 116
1 129
3992
5 649
12,701
14751
3311
72517
20589
1012
3954
5 756
12,502
14760
3406
73 134
20898
1205
4027
5 845
12,869
13 960
3611
74586
22 110
1 192
3938
5 794
13,099
14 314
3753
76 193
22 178
1 145
3959
6 152
13,731
14 365
3724
77200
21825
1 231
4027
6 055
14,161
15038
3796
77981
22 115
1 171
4060
6 005
14,121
15 590
3810
79296
22 378
1 264
3995
6 201
15,589
15 361
3574
80889
22 278
1 196
4273
6 191
15,286
16 964
3664
r
80
r
542
22 003
1259
r
4 383
r
6 325
15,020
16 744
r
3506
80 186
21 689
1*159
4 401
6 358
15,357
16 365
3 417
'125,723 133,379
'298,916 '324 748
'236,754 '263,897
'151020 127266
'148,806 '147,692
'730 782 '801 557
11,156
26092
21,904
10541
12,007
68381
10,671
25070
21,107
9784
11,643
65321
10566
26 151
21,681
8758
10,793
63566
10,724
26708
21,510
8767
11,110
62754
10949
27 123
21,867
10332
11,819
63 339
10655
28 159
21,267
10472
11,710
64 380
11 186
28573
23,166
10635
12,463
66 741
11 649
27962
22,765
11 839
13,266
69216
11 406
27 911
22,894
11 599
13,370
70 542
11251
29038
22,771
11 478
13,613
71 172
11682 12 048
28547 r28 444
23,442 r23,115
10 969 11 347
13,703 13 685
72 805 r72 981
11935
27 717
24650
11 878
13636
72 767
'55,938
'267 807
'232,315
'35 492
4891
24 741
21,352
3389
4724
23911
20,625
3 286
4616
24202
20,762
3 440
4588
24063
20,628
3435
4824
24496
21,043
3 453
4699
23 693
20,369
3 324
4978
25680
21,882
3 798
5212
25618
21,842
3 776
4998
25 716
21,858
3 858
5009
25 498
21,772
3 726
5 149
26 129
22,443
3 686
r
5 374
r
25 856
r
21,937
r
5 367
27 361
23,034
4 327
do
do....
do....
227,658
150,321
77,337
Book value (seasonally adjusted), total t
By industry group:
Durable goods industries, total #
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
do....
228,258
do....
do....
do....
do....
151,689
5,643
19,803
10,834
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments and related products
do....
do....
do....
do....
do....
do....
19,402
36,624
20,598
29,916
8,012
7,765
See footnotes at end of
http://fraser.stlouisfed.org/ tables.
Federal Reserve Bank of St. Louis
10 689
9,962
75925
3898
12 199
5,757
By market category: t
Home goods and apparel
do....
Consumer staples
do.. .
Equipment and defense prod., exc. auto .... do....
Automotive equipment
.
do .
Construction materials and supplies
do....
Other materials and supplies
do
Supplementary series:
Household durables
do....
Capital goods industries
do
Nondefense
do....
Defense
do
Inventories, end of year or month: t
Book value (unadjusted) total
Durable goods industries, total
Nondurable goods industries, total
10224
10,005
do....
do
. do .
do....
Fabricated metal products
Machinery except electrical
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments and related products
Nondurable goods industries, total #
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
7739
8,820
'58,835
'296 266
'254,381
'41 845
3 919
r
243 730 239 837 243 705 244 901 243 494 242 990 242 763 241 441 241 622 242 730 243 730 249 554 252 843 254 505
160 308 158 721 161 306 162 275 161 087 160*646 160 807 159 177 158 497 159 260 160*308 164 833 167*426 168 322
83,422 81,116 82,399 82,626 82,407 82,344 81,956 82,264 83,125 83,470 83,422 84,721 r85,417 86*183
244,493 238,522 242,540 243,402 243,630 244,105 243,517 243,615 242,876 244,090 244,493 248,408 r251 231 253 289
161,907 157,127 159,877 160,607 160,404 160,875 161,081 160,691 160,137 160,977 161,907 164,938 166,278 166,718
r
6,067
5,987
6,073
6,089
6,141
6,079
5,993
5,920
5,976
5,994
6,067
6,128
6,272
6,383
20,285 20387 20789 21979 20884 20841 20588 20 187 20055 20 148 20 285 21 023 r21 434 21 520
10,884 11,151 11,472 11,726 11,751 11,539 11,423 11,045 10,850 10,854 10,884 11,208 11,489 11,483
19,235 19,659 19,747 19,816 19,451 19,134 18,980 18,863 18,592 18,917 19,235 19,508 19,441 19282
38,352 37,609 38,624 39,079 38,940 39,339 39,255 39,107 38,582 38,691 38,352 38,637 r38,865 38,958
22 135 21620 21999 21924 21861 22079 22 012 22 095 22 140 22 107 22 135 22 567 r22 844 22 845
35,229 31,447 32,121 32,202 32,688 32,951 33,505 33,950 34,290 34,541 35,229 36,375 r36,629 36,823
r
7,287
7,827
8,019
7,775
7,485
7,238
7,264
7,401
7,167
7,070
7,287
7,338
7,366
7,469
8,438
8,237
8,296
8,351
8,393
8,425
8,404
8,290
8,353
8,448
8,438
8,498 r8,556
8,620
Apr.
SURVEY OF CURRENT BUSINESS
May 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1981
1980
Mar.
Annual
S-5
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS t— Continued
Inventories, end of year or month t —Continued
Book value (seasonally adjusted) t—Continued
By industry group—Continued
Durable goods industries—Continued
By stage of fabrication: t
Materials and supplies
Primary metals
Machinery, except electrical
Electrical machinery
Transportation equipment
mil $
do....
do....
do
do....
48857
7,411
10,732
5936
8,351
49507
8046
10,846
6051
8,415
50347
7919
10,963
6222
8,501
51086
8049
11,214
6289
8,709
50665
8213
10,035
6215
8,642
50 177
8 194
11,114
6 171
8,321
50032
8300
11,123
6 193
8,404
49 136
8 124
11,108
6 163
7,817
49007
8090
10,998
6 166
7,770
48722
8018
10,943
6 142
7,725
48 841
7906
10,990
6081
7,929
49507
8046
10,846
6051
8,415
50788 r51 488
8541 r8610
10,832 40,809
6280 r6288
r
8,682
8,904
51 224
8379
10,698
6218
9,233
Work in process #
Primary metals
Machinery, except electrical
Electrical machinery
Transportation equipment
do....
do
do....
do....
do....
66,837
7013
16,952
10,064
17,832
74,060
6949
17,409
11,363
22,748
69,585
6936
17,451
10518
19,155
70,594
7 141
17,736
10631
19,477
71,411
7315
17,931
10662
19,644
71,891
7 398
17,716
10729
20,469
71,126
7232
17,867
10915
20,524
73,113
7 184
17,916
10995
21489
73,209
6 919
17,706
11090
22 149
73,037
6 796
17,407
11 208
22,448
73,733
6989
17,481
11 244
22,663
74,060
6 949
17,409
11363
22748
76,207 r76,487
7359 r7510
17,741 47,813
11491 41 742
23792 r23 811
76,515
7676
17,808
11 762
23581
Finished goods # .
Primary metals
Machinery, except electrical
Electrical machinery
Transportation equipment
do
do .
do....
do....
do....
35994
5,379
8,940
4,598
3,733
38340
5290
10,097
4,721
4,066
37 195
5532
9,195
4,880
3,791
38 197
5599
9,674
5,079
3,935
38531
5451
10,113
5,047
3,916
38 336
5*292
10,110
4961
3,898
38717
5309
10,349
4971
4,023
38 832
5280
10,231
4854
4,199
38 475
5 178
10,403
4839
4,031
38378
5241
10,232
4790
4,117
38 403
5253
10,220
4782
3,949
38 340
5290
10,097
4721
4,066
37 943 r38 303
5 123 '5314
10,064 40,243
4796 r4814
r
3,901
3,914
38 979
5*465
10,452
4865
4,009
do....
do....
do
do ..
do....
do
do....
do
76,569
20,397
3503
5844
6,795
16982
6,581
4777
82,586
21,362
3524
6 187
7,478
18516
8,396
4 474
81,395
20,431
3506
6096
7296
18677
8,062
4954
82,663
20,292
3475
6 143
7416
19274
8,388
5 098
82,795
20,102
3 505
6 149
7479
19 451
8,384
4 986
83,226
20,272
3 529
6085
7598
19 330
8,763
4 817
83,230
20,830
3 618
5940
7442
18 964
8,885
4 769
82,436
21,867
3 575
5*850
7550
18 517
8,811
4 520
82,924
21,337
3 722
5876
7475
18 489
8,894
4 470
82,739
21,527
3 723
5975
7443
18358
8,495
4 488
83,113
21,756
3771
6068
7473
18610
8,333
4 393
82,586
21,362
3 524
6 187
7478
18516
8,396
4 474
83,470 r84,953
21,050 r21,164
3 739 r3 627
6256 r6339
7673 r7889
18 810 49 175
8,585 r9,206
4 498 r4 650
86,571
21,250
3 650
6330
7952
19 488
10,096
4 738
do....
do
do....
30,257
11 774
34,538
32,369
12973
37,244
31 967
12687
36,741
32322
12774
37,567
32406
12 708
37,681
32338
12 611
38,277
32314
12 634
38,282
31461
12 620
38,355
31918
12 725
38,281
32 139
12 551
38,049
32 142
12 560
38,411
32369
12 973
37,244
32866 r33 207
13 170 43 430
37,434 r38,316
33271
13 715
39,585
mil $
.. do
do....
do
do....
do....
17584
29749
61,621
10347
19,646
89,311
18 118
31 199
69,967
9223
20,035
95,951
18 168
30420
64,718
10 183
20,166
94867
18 419
30*418
66,205
10 428
20,165
96905
18 413
30351
67,180
10 019
20,095
97344
18 286
30 418
67,819
9 647
19,954
97506
18 008
31 018
68,824
9 347
19,827
97081
17 985
30 978
69,295
9 262
19,707
96290
17 845
31 071
69,213
9 347
19,649
96490
17 882
31 317
69,615
9 981
19,491
95590
17 880
31 773
69,813
9 073
19,704
95847
18 118
31 199
69,967
9 223
20.035
95951
18 297 48 419 18 638
31 460 r31 593 31*949
71,105 r71,612 71*584
9 306 r9 272
9 393
20,109 r20,270 20,443
98 131 400 065 101 282
do....
do
do
do
9,180
68640
59 178
9462
9 155
78209
66 171
12*038
9311
72 177
62 102
10'075
9 495
73 741
63 464
10 277
9397
74 668
64 217
10 451
9267
75 370
64 782
10*588
9 132
76 569
65 661
10 908
9 160
76 956
65 779
11 177
9058
77 401
66 091
11 310
9014
77 805
66 158
11 647
9002
78 117
66 284
11 833
9 155
78 209
66 171
12*038
9 170 r 9226
80 034 r80 599
67 585 r67 954
12449 42 645
Nondurable goods industries, total #
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
By stage of fabrication:
Materials and supplies
Work in process ...
. .
Finished goods
By market category: t
Home goods and apparel
Consumer staples
Equip, and defense prod., exc. auto
Automotive equipment
Construction materials and supplies
Other materials and supplies
Supplementary series:
Household durables
Capital goods industries
Nondefense
Defense
New orders, net (not seas, adj.), total t
Durable goods industries, total
Nondurable goods industries, total
New orders, net (seas, adj.), total t
By industry group:
Durable goods industries, total
Primary metals...
Blast furnaces, steel mills
Nonferrous and other primary met
do.... 1,732,015 1,809,772 159,145 146,490 138,924 145,566 136,338 144,119 159,886 165,762 155,859 154,798 152,101 464,906 172,280
do
926 580 914731 82642 74452 67663 71700 67 191 68832 81 060 86228 78070 78 431 76 042 r83 104 89 987
do.... 805,435 895 041 76503 72038 71 261 73866 69 147 75287 78826 79534 77 789 76367 76059 r81 802 82293
do.... 4,732,015 4,809,772 152,065 143,313 138,920 138,582 147,104 147,180 155,262 158,054 158,775 162,157 162,090 462,759 164,865
fl
do.... 1926,580
do
442882
do
'69 121
do.... '59,802
'914,731
438680
'65461
'61,144
77,546
11 141
5 162
4,830
72,416
9 680
4 124
4J649
67,328
8 373
3 356
4,368
66,454
8 947
3 881
4250
74,228
10 811
4 721
5290
72,229
11 412
5 644
4854
78,960
12 554
6 255
5292
80,693
13 745
7 183
5,478
81,047
13 029
7071
4,872
82,654
12 899
6 784
5,008
81,336 r82,209
10 977 42 412
5 208 rg 170
r
4674
5,181
84,577
12 048
6 130
4*810
do
do....
do....
do
do
Fabricated metal products ...
Machinery, except electrical
Electrical machinery
Transportation equipment . .
Aircraft missiles and parts
Nondurable goods industries, total
Industries with unfilled orders $
Industries without unfilled orders
By market category: t
Home goods and apparel
Consumer staples
Equip, and defense prod., excl. auto
Automotive equipment...
Construction materials and supplies
Other materials and supplies
Supplementary series:
Household durables
Capital goods industries.
Nondefense
Defense
9290
80 792
67 794
12 998
411622
463,304
415,785
'216 523
'65 796
410702
467,648
427,506
489 192
'62 897
9738
14,000
11 109
16345
5 558
8333
12,701
10022
14 320
6 188
8 076
13,085
9941
12 672
4 810
8 621
14,177
9677
16 362
5 682
8 522
12,931
10790
14 175
3 794
8 903
14,817
9977
17487
5 272
10 121
14,806
11098
15007
3 286
9884
14,822
11459
15957
4 624
10 514
15,100
10565
17 169
4 997
9 705
16,545
11420
16 164
5 467
40 124
45,281
41 542
45 828
r
4 361
10 542
15,558
11 731
18 150
6 178
do.... '805,435
do.... 471,502
do.... '633,933
'895,041
483,602
'711,439
74,519
15,594
58,925
8862
11,651
10737
17510
8 576
70,897
14,702
56,195
71,592
14,456
57,136
72,128
14,582
57,546
72,876
15,099
57,777
74,951
15,370
59,581
76,302
15,879
60,423
77,361
15,807
61,554
77,728
15,469
62,259
79,503
15,953
63,550
80,754 r80,550
15,761 46,270
64,993 r64,280
80,288
16,688
63,600
do....
do....
do.
do
do....
do....
426,005
'298,939
'258 447
449571
449,383
'749,670
432,744
'324,792
'275 139
425609
446,812
'804,676
11 145
26 132
23597
10237
12237
68,717
10570
25 105
23 186
8 948
11452
64,052
10283
26 135
22307
8 348
10838
61,009
10613
26712
20 802
8 359
10906
61,190
10880
27 107
21 728
10 444
11665
65,031
10744
28 168
21 722
10 205
11504
64,837
11 051
28569
25049
10 854
12281
67,458
11,535
27947
22514
12073
13552
70,433
11 359
27897
23 121
11 760
13 158
71,480
11 249
29046
25073
11 546
13666
71,577
11821 42 386
28558 r28 437
25 848 r23 818
11 026 41 603
13551 43 640
71,286 r72,875
12041
27750
26087
11 943
13941
73,103
do.... '55,939
do
'299 216
do
'259 721
do.... '39,495
'58 385
'310613
'255 638
'55,025
4923
27 184
22 590
4,594
4713
27 110
22 162
4,948
4417
24868
19 589
5*279
4503
23 500
19 954
3,546
4728
25 974
21 608
4,366
4789
23 886
19 371
4,515
4830
27318
20 860
6,458
5081
24526
20 618
3,908
4873
26302
21 849
4,453
5005
27498
21673
5,825
5322
28706
24 513
4493
r
5753
r
26 247
r
20 590
r
5463
28897
23 838
5,059
Unfilled orders, end of year or month (unadjusted),
total t
mil. $..
Durable goods industries total
do
Nondur. goods ind. with unfilled orders $
do....
5,657
r
294,696
r
277,153
265 777
11,376
288,372 288,770 288,564 284,306 280,616 282,354 282,047 283,255 286,830 286,027 288,372 292,313
297,141
277 772 276 676 276 660 273 032 269 847 271 780 271 364 272 495 276 003 275 393 277 772 281 600 283 746 286 112
10,600 12,094 11,904 11,274 10,769 10,574 10,683 10,760 10,827 10,634 10,600 10,713 40,950 11,029
278 846
290 735 286 907 286 629 284 033 281 044 282 463 282 997 285 497 286 849 287 907 290 735 291 677 r292 813 295 094
267 071
29,607
17,690
9,295
279 746 274 884 275 098 272 981 270 383 272 062 272 231 274 622 275 813 277 124 279 746 280 825 r281 953 284 130
30,738 29,528 27,876 25,982 25,139 25,692 26,499 27,731 29,680 30,425 30,738 29,185 r29,105 29,365
19,097 17349 16088 14770 14,358 14,727 15728 16756 18,163 18,948 19,097 18,100 48,053 18,344
r
8,591
8,874
9,394
9,539
9,077
9,084
9,397
9,178
8,911
9,038
9,539
8,706
8,892
9,427
do
do....
do
. do
do....
28257
58,729
35552
102 747
77,893
Nondur. goods ind. with unfilled orders i .. do....
11,775
r
27617 28737 28464 28356 28027 27987 27706 27 178 27396 27338 27617 27505 r27 532 27849
,57,116 59,994 58,270 57,432 56,695 56,926 56,294 56,519 56,573 56,747 57,116 58,097 r58,130 58,071
39710 37944 38808 38782 38830 38437 38947 38534 38884 39531 39710 40452 41 074 41 572
112805 105 642 108 876 109 896 109611 111 042 110913 113058 111 633 111473 112805 113627 413921 115032
89,578 81,804 86,099 87,994 88,827 90,247 90,178 90,632 89,150 89,089 89,578 90,556 r90,622 91,654
10,989 12,023 11,531 11,052 10,661 10,401 10,766 10,875 11,036 10,783 10,989 10,852 40,860 10,964
do....
do....
do....
do
4,538
154,691
20,772
98845
4,355
4,247
4,159
4,551
4,717
4,652
4,260
3,928
3,934
4,084 r4,414
3,934
4,120
3,988
164,410 159,073 160,314 160,530 159,412 159,384 159,570 161,670 161,652 162,043 164,410 166,872 467,829 169,331
20,118
20,009 20,771 20,581 20,626 20,423 20,269 20,063 19,883 20,168 19,957 20,009 19,859 49,814
102 382 102 346 101 082 98522 96962 98651 99 104 99824 101 041 101 979 102 382 100 862 400 765 101 094
do
..do
do....
3408
179,055
131,563
47.492
3471
3,387
3,288
2971
3,615
2971
3670
3,381
2975
3680
3233
3 100
3 144 r3,522
193,616 185 519 188718 189,384 188,821 190,296 190,487 192,126 191,031 191,621 193,616 196,194 496,582 198,121
133,017 136,118 137,657 136,482 135,810 136,374 135,375 134,355 133,127 133,120 133,017 135,087 433,738 134,543
60.599 49.401 51.061 52.902 53.011 53,922 55.112 57.771 57.904 58.501 60.599 61.107 r62.844 63.578
Unfilled orders, end of year or month (seasonally
adjusted) total t . ...
mil $
By industry group:
Durable goods industries total #
do
Primary metals
do....
Blast furnaces, steel mills
do....
Nonferrous and other primary met
do....
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Aircraft, missiles, and parts
By market category: t
Home goods, apparel, consumer staples
Equip, and defense prod., incl. auto
Construction materials and supplies
Other materials and supplies
Supplementary series:
DigitizedHousehold durables
for FRASER
Capital goods industries
.
http://fraser.stlouisfed.org/
Nondefense
nofon
Federal Reserve Bank of St. Louis
00
Hn
Apr.
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
May 1981
1980
1980
Annual
Mar.
Apr.
June
May
July
1981
Aug.
Sept.
Nov.
Oct.
Dec.
Jan.
46,915
45820
Mar.
Feb.
Apr.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS INCORPORATIONS J
New incorporations (50 States and Dist. Col.):
Unadjusted
number..
Seasonally adjusted
do
524,565
533,520
45,007
42615
44,479
42461
43,436
41974
41,420
39746
46,151
44058
41,865
43266
44,923
46488
49,023
47225
39,691
43,834
48,940
51807
7564
930
1378
1,165
3 183
908
11,742
1594
2355
1,599
4910
1284
925
120
192
135
381
97
1,068
143
214
143
437
131
975
130
202
128
405
110
1,094
143
210
139
483
119
1,141
154
215
164
492
116
1,009
126
221
160
400
102
926
121
190
134
363
118
1,323
211
282
147
532
151
860
130
168
104
373
85
1,015
150
190
150
421
104
INDUSTRIAL AND COMMERCIAL
FAILURES $
Failures total
Commercial service
Construction
Manufacturing and mining
Retail trade
Wholesale trade
.
number..
do
do
do....
do
do....
Liabilities (current) total
Commercial service
Construction
Manufacturing and mining
Retail trade
Wholesale trade
.. thous $ 2 667 362 4,635 080 274,238 428 150 381 146 436 680 445,693 345,408 1,002,944 359,242 239,344 288 298
do.... 347,749 413,502 21,973 29,986 35,129 32,913 43,610 46,133 26,842 50,288 54,564 27,466
291 323 752 109 47810 134 025 84405 130 691 49079 60678 41,318 59971 29822 46720
do
do.... 970,178 1,885,017 119,010 126,688 120,038 80,461 178,373 108,231 804,390 106,539 59,565 65,828
636 859 993 539 60332 96317 78 183 123 589 84811 81870 56,491 86849 62 195 124 397
do
do.... 421 253 590,913 25,113 41,134 63,391 69,026 89,820 48,496 73,903 55,595 33,198 23,887
Failure annual rate (seasonally adjusted)
No. oer 10.000 concerns..
1
27.8
'42.1
36.2
42.2
39.3
48.7
52.0
45.4
45.0
56.8
39.2
46.8
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS
Prices received, all farm products
1910-14=100..
615
585
563
570
582
617
643
653
652
660
662
659
496
542
547
367
431
467
1,204
491
584
534
366
425
459
1206
505
581
564
381
434
472
1,210
513
555
530
391
428
520
1,210
544
524
632
423
443
463
1,204
568
555
676
445
455
444
1,204
584
576
687
458
458
482
1,291
583
569
636
464
482
510
1,235
609
623
655
478
499
493
1,248
613
640
683
489
498
438
1,331
622
695
649
491
497
432
1,296
708
736
938
252
691
798
878
253
679
777
876
233
637
803
219
637
771
810
211
653
764
839
218
694
771
894
255
721
783
932
271
724
807
921
284
722
838
907
279
714
856
877
288
713
863
867
297
697
863
848
279
725
722
810
803
791
789
790
784
793
784
801
791
809
799
819
813
828
824
835
830
847
838
851
840
862
851
(2)
854
Prices paid:
All commodities and services
do
Production items
do
All commodities and services, interest, taxes, and
wage rates (parity index)
1910-14—100..
Parity ratio §
do
111
653
619
733
637
487
478
448
1300
r
677
r
844
r
693
856
845
275
do
do
do
do....
•
655
r
632
r
833
r
610
r
491
r
486
r
621
796
603
492
492
415
1,296
501
548
490
360
403
534
1 148
Livestock and products &
Dairy products
Meat animals
Poultry and eggs
r
657
542
561
602
417
452
470
1228
602
do....
do
do....
do
do....
do....
do
Crops # ..
Commercial vegetables
Cotton
Feed grains and hay
Food grains
Fruit
Tobacco
687
838
847
264
458
1,297
822
270
r
861
869
1,036
65
l,028
r
64
260.7
263.5
265.2
258.4
260.5
263.2
265.1
270.8
2673
280.9
3005
201.9
335.8
3045
675.6
3229
214.9
253.3
2623
263.7
2498
2652
257.5
2198
237.0
292.5
3095
272.2
2686
2826
301 6
203.0
3368
3084
693.4
326 7
216.9
1839
256.1
2545
1819
222.7
2736
272.8
1848
259.0
2574
1843
230.8
2770
274.5
1839
261.1
2594
1845
234.4
280 1
275.8
247.6
2576
259.2
245.4
2569
245.3
221.0
232.4
287.7
3042
268.6
2656
279.1
300 1
200.9
3358
2967
625.9
3185
212.6
181 1
2647
2629
1853
2340
2864
279.5
251.2
260.4
261.9
248.3
2623
253.2
220.3
235.4
290.1
3069
273.8
2947
198.3
329.4
2857
567.0
3105
211.0
245.2
255.5
25T.1
243.8
254 1
242.0
221.1
231.0
284.7
3007
266.4
263.9
276.9
2985
199.6
334.2
2899
585.3
3139
211.6
1820
2709
2694
1848
2343
288 1
282.6
185 1
2735
271 7
1829
2354
2939
284.7
1.0
241.1
2280
264.4
2622
11
243.5
2300
267.6
2656
10
245.2
231 3
270.2
2680
07
246.6
2336
2698
2669
10
2492
2368
2706
2668
06
2505
238 1
2716
267 9
185 8
2759
274 2
182 5
292 g
850
956
937
937
940
948
956
967
976
982
990
994
1,016
1,020
71
64
62
60
61
61
65
66
67
66
67
67
65
217.7
247.0
239.9
242.6
245.1
247.8
248.0
249.6
251.9
254.1
256.4
258.7
217.4
246.8
239.8
242.5
244.9
247.6
247.8
249.4
251.7
253.9
256.2
210.8
2130
216.1
2084
2159
198.7
191 1
195.1
234.2
2449
236.4
245 1
246.5
234.1
2459
236.6
209.8
222.2
272.4
2876
254.8
2515
242.1
250.9
252.6
240.7
2510
239.6
218.1
228.3
277.9
2932
261.1
2589
267.7
2853
195.1
3176
2882
561.5
3184
209.2
262.4
260.0
271.1
2904
197.1
323.8
2876
558.7
317 1
210.1
243.6
253.2
254.9
242.5
2524
240.5
220.6
230.0
280.9
2964
264.5
262 1
1773
246.8
2470
1770
196.7
2359
262.0
1772
249.7
2497
1785
200.7
2422
264.7
1762
251.0
2505
1792
203.4
2505
266.6
238.5
246.3
248.1
236.7
2483
237.8
212.4
224.2
272.5
2874
258.7
2563
265.8
2833
193.2
315.4
2868
561.5
316 1
207.2
1786
252.7
2516
181 1
206.4
2615
268.4
241.0
248.6
250.4
239.0
2502
239.3
215.3
226.6
274.8
2898
178.4
249.7
2492
179.3
208.1
2516
265.9
233.4
2426
243.6
2314
2432
235.5
207 1
220.2
2692
2844
2504
2465
2617
2802
188.9
3129
2759
556.0
2982
204.2
177 5
249.0
2492
1789
199.3
2395
263.4
234.9
245.5
246.4
232.8
2445
236.3
208.6
221.4
274.2
2900
252.0
2480
266.7
2863
191.1
320.4
2822
558.7
3088
205.5
166.6
212.0
2123
166.0
201.0
2003
239.7
229.6
237 1
238.4
2280
2403
232.6
2030
216.7
261.3
2754
247.3
2436
2545
2716
186.6
3020
2680
553.4
2840
201.3
1760
243.7
2440
1750
195.2
232 1
260.2
231.7
2399
241.1
2299
2422
234.6
2049
218.6
265.3
2800
234.5
2329
227.6
2397
176.0
262.4
2393
403.1
2578
190.3
235.5
2440
245.5
2339
2450
235.2
2104
222.0
270.3
285 1
254.6
2515
263.3
2817
191.6
314.0
2786
556.0
3018
205.4
1822
254.7
2532
1817
214.6
2710
270.6
1.3
228.6
2175
247.0
2430
0.9
229.7
2185
248.3
2440
09
230.7
2195
249.3
2449
1.0
231.6
2203
250.5
2458
01
233.0
221 3
252.9
2487
0.8
235.9
2234
257.6
2546
10
238.9
2259
262.0
2598
r
CONSUMER PRICES H
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
ALL ITEMS, WAGE EARNERS AND
CLERICAL WORKERS, REVISED
(CPI-W) H
1967-100..
ALL ITEMS, ALL URBAN CONSUMERS
(CPI-U) H
1967= 100..
Special group indexes:
All items less shelter
do....
All items less food
do
All items less medical care
do....
Commodities
do
Nondurables
do
Nondurables less food
do....
Durables
do
Commodities less food
do....
Services
do....
Services less rent
do
Food #
do...
Food at home *
do
Housing
do...
Shelter #
do
Rent
do....
Homeownership
do
Fuel and utilities #
do
Fuel oil, coal, and bottled gas
do....
Gas (piped) and electricity
do
Houshold furnishings and operation
do....
Apparel and upkeep
Transportation
Private
New cars
Used cars
Public
Medical care
.
.
do.
do....
do
do...
do....
do
do....
249.1
2453
257.9
2760
187.0
3077
2705
556.4
2880
203.0
265.1
2829
192.1
3154
2855
560.4
3143
206.2
Seasonally Adjusted t
All items, percent change from previous month
Commodities
1967=100..
Commodities less food
do
Food
do....
Food at home .. . .
dq
Apparel and upkeep
...
Transportation
Private
New cars
Services
See footnotes at end of tables.
.
do
1766
1769
1768
177 1
178 1
1794
1809
182 1
1828
1828
182 5
184 0
do
do....
do
do
2457
2462
1747
247 1
2474
1767
2479
248 1
178 3
2482
2477
1799
2504
2494
1826
2540
2526
184 9
262 4
2609
183 3
267 0
265 3
183 5
273 4
272 0
183 3
265 5
269 4
2724
2727
2746
2566
255 1
183 3
277 9
259 9
2584
183 5
2616
2473
2473
178 4
274 i
281 5
285 5
288 0
290 3
63
S-7
SURVEY OF CURRENT BUSINESS
May 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
Annual
1981
1980
1980
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
COMMODITY PRICES—Continued
PRODUCER PRICES §
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
Spot market prices, basic commodities:
22 Commodities
9 Foodstuffs
13 Raw industrials..
1967=100..
do....
do
All commodities ..
By stage of processing: t
Crude materials for further processing
Intermediate materials, supplies, etc
Finished goods #
Finished consumer goods
Capital equipment
By durability of product:
Durable goods
Nondurable goods
Total manufactures
Durable manufactures
Nondurable manufactures
Farm prod., processed foods and feeds
Farm products #
Fruits and vegetables, fresh and dried....
Grains
Live poultry
Livestock .
...
'277.1
'255.6
'2930
do
2356
rl
268 6
262 8
264.1
2444
278 5
264 2
265 6
270 4
2738
2746
r
do....
do....
do....
do
do....
274.3
243.2
217.7
2179
216.5
r
'304.6
'280.3
'2469
'2489
r
'239.8
293.6
274.3
2400
242 2
232.2
286.2
275.7
242 1
2437
236.2
289.3
277.0
2434
245 2
236.7
288.4
278.8
2449
246 8
237.8
304.3
281.6
2493
251 7
240.6
317.0
284.3
2514
254 1
241.9
319.3
285.3
251 4
254 1
241.8
do
do
do
do. .
do....
do....
do....
do....
do
do
do
2269
241 7
2288
226 1
231.1
r
r
'282
r
r
2466
273 i
2552
2456
265.2
2477
274 4
2570
2467
267.9
2487
278 8
259 8
2485
271.7
234.9
239.3
218.5
2179
180 1
251 8
229.3
228.9
223.2
210 8
171 9
230 5
2686
228.6
227.9
232 4
227.5
224.6
226 0
271 3
2528
256 1
313.3
168.9
2999
2287
2598
2585
322.1
172.6
2982
231 5
553.5
461 7
305 5
7166
659.0
185.7
169 9
198.9
91 3
566.6
4652
310 1
730 1
678.0
184.4
171 1
200.3
91 4
246.8
231 8
3487
3110
294.9
3406
243.5
2319
3286
2976
275.6
310 1
240.7
2319
2897
290 4
272.1
3014
2325
252.0
279.5
196 5
264.1
2376
256.4
285.9
199 9
272.9
2868
202.6
301 8
3214
2364
254.4
284.2
198 9
270.2
2844
204.2
307 2
2983
276.5
231.4
269 1
267.6
2426
250 3
2127
231 6
1793
129.1
119.3
136 8
113 2
1680
201 2
283.7
235.0
272 9
264.0
2478
253 5
214 l
231 8
181 2
130.4
122.1
1370
114 5
1700
201 6
198.8
200.7
203.2
205.4
2512
285 6
263 0
2510
275.9
246.6
254.3
252.0
244 8
227 2
260 5
241.5
234.6
234 7
230.1
229.8
248 5
276 2
263 3
2587
328.7
175.7
2600
2388
585.5
467 5
331 1
762 1
693.9
188.0
1758
206.5
91 7
245.1
2327
3566
292 2
289.2
3272
2415
258.6
291.5
203 7
278.0
2825
206.2
300 6
2926
284.8
230.1
275 9
253.1
251 7
258 2
2188
238 0
184 7
136.0
122.4
135 7
116 6
1744
210 7
206.2
208.6
253 1
290 3
2657
2527
279.5
255.1
263.8
254.0
2565
224 5
275 7
231.6
225.9
231 8
223.0
223.7
239 2
247 1
277 6
258 3
2467
270.7
233.8
233.5
244.0
219 0
171 3
233 3
233.1
231.2
234 7
228.5
225.4
224 5
271 9
262 5
2585
328.5
172.8
2947
2388
572.1
466 5
316 5
745 1
680.9
185.4
173 2
203.0
92 0
do
Chemicals and allied products #
Agric. chemicals and chem. prod
Chemicals, industrial
Drugs and Pharmaceuticals
Fats and oils, inedible
Prepared paint
do
do
do....
do....
do
do....
2223
2144
264.0
159.4
3767
204.4
Fuels and related prod., and power #
Coal
Electric power
Gas fuels .
Petroleum products, refined
do....
do
do
do
do....
Furniture and household durables #
Appliances household
Furniture, household
Home electronic equipment
do....
do
do....
do
Hides, skins, and leather products #
Footwear
Hides and skins
Leather
.
....
..
Lumber and wood products
Lumber
do....
do .
do....
do
do....
do....
Machinery and equipment #
Agricultural machinery and equip
Construction machinery and equip
Electrical machinery and equip
Metalworking machinery and equip
do....
do....
do....
do
do....
408.1
4509
2702
544 1
444.8
171.3
1609
186.3
913
252.4
2180
535.4
3567
300.4
354.3
213.9
232.1
256.2
1789
241.3
259.3
187.1
2835
2617
248.6
217.9
244 1
252.3
2190
2296
1943
2059
1687
119.0
109.2
127 1
1074
1604
1904
188.1
190.5
Industrial commodities
298.4
289.4
3047
r
229.8
241.4
229.0
2148
1943
2603
222.5
210.7
2103
211.2
221.9
2420
2365
Foods and feeds, processed #
Beverages and beverage materials
Cereal and bakery products
Dairy products
Fruits and vegetables, processed
Meats poultry and fish
296.6
290.3
3008
285.3
2450
3169
261 9
do....
do....
do
do....
do....
do
Metals and metal products #
do....
Heating equipment
do....
Iron and steel
do
Nonferrous metals
do
Nonmetallic mineral products #
do....
Clay prod., structural, excl. refrac
do....
Concrete products
do
Gypsum products
do....
Pulp paper, and allied products
.
do
Paper
do
Rubber and plastics products
do
Tires and tubes
do
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
Transportation equipment # ....Dec. 1968=100..
Motor vehicles and equip
1967 = 100..
'283.5
'2643
'2979
'251 2
3
'261 4
'250 5
'272.9
r
'244.7
'249.4
'238.6
'2390
'202 1
'2527
r
'241.2
r
'233.0
'236 0
'230.6
'228.7
rl
243 1
'2747
'2603
r
'257 1
'324.0
r
'174.5
r
'298 0
'2353
rl
574.0
'4673
rl
321 6
r
'760 7
r
'674.7
'187.7
rl
!74 1
r
'204.8
'91 4
'248.8
'233 1
'370.9
'3106
'288.9
'325.8
r
'239 8
r
'259.2
'289.4
'201 7
'274.4
'286.4
rl
206.5
r
'305 2
r
'305 0
'283.0
r
'231.4
'273 9
'256.2
'249 2
'256 8
'2174
r
'236 9
'1835
'134.7
rl
122.5
r
'138 1
'115 7
'1723
r
'206 9
'206.9
'208.8
272.5
2350
301 9
2818
204.0
304 8
2897
284.0
230.0
275 2
256.5
249 2
256 1
2150
233 2
1820
133.2
124.2
136 5
115 3
1702
202 6
202.5
204.5
260.3
2500
2675
234.3
233.4
233.5
215 3
166 6
240 0
233.9
234.3
233 2
229.5
227.2
226 6
273 5
262 8
2576
329.5
174.4
2558
2388
576.5
466 6
326 0
749 2
681.7
186.5
175 5
204.0
91 8
240.9
231 9
3157
2844
279.8
3130
2392
257.1
287.6
201 6
275.4
2819
205.0
303 4
2888
283.4
230.1
275 8
257.1
251 1
257 9
2173
235 6
1830
134.5
122.8
134 8
115 8
1727
2027
203.1
205.2
274.6
2700
277 6
288.7
2837
292 1
292.8
2848
2983
249.4
237.1
235 8
232.6
230.7
259 9
278 2
264 4
2600
330.0
176.1
3076
2388
590.6
468 7
333 6
772 6
697.6
188.9
1763
208.0
91 3
251.3
2337
3984
314 2
296.1
3337
2426
259.9
293.4
205 0
278.8
285 1
208.0
302 6
2984
286.0
229.7
276 0
251.8
252 4
258 6
2205
238 0
1856
137.5
123.2
1375
1168
175 1
211 0
208.8
211.7
287.7
272.6
2984
281.7
267.7
2916
2835
273.4
258.5
2842
2869
275.1
255.0
2898
276.0
253.0
2930
2777
279 1
r
2896
2928
322.8
287.7
r
2554
2570
249.2
324.6
289.1
2562
2579
250.2
r
323.5
r
291.9
r
2572
r
258 9
r
321.3
295.5
2598
261 4
253.9
335.5
297.8
2624
264 0
256.3
333.0
301.4
2653
267 3
257.8
335.2
305.4
2677
269 6
260.5
2537
291 2
2658
253 1
279.5
2584
293 0
269 6
2578
282.1
2586
295 2
2705
2579
284.0
r
2610
r
296 3
r
272 0
r
2604
r
256.5
267.0
266.2
260 6
241 0
266 8
259.4
263.6
240.9
269 2
222 9
263 0
260.5
264.9
246.6
270 9
221 0
254 8
'257.0
265.3
r
245.1
265 2
218 9
251 4
263 1
306 0
278 7
2627
C
295.9
254.9
262.3
270.4
256.1
239.5
241 5
238.0
233.8
256 0
282 0
264 8
2606
330.0
178.4
3020
2393
592.9
470 7
337 4
802 2
690.4
190.9
177 5
209.8
91 5
251.2
2366
381 5
301 9
289.0
3206
2468
265.4
299.1
207 0
282.5
2919
210.6
310 5
3094
288.6
233.3
277 5
249.5
254 3
262 1
2228
245 2
188 1
140.2
125.1
143 5
1183
1762
213 8
257.2
240.6
245 3
240.2
234.7
250 9
r
251.5
r
240.5
r
248 7
r
242.3
r
236.6
r
283 4
266 7
261 1
332.7
181.1
3082
241 4
600.2
4754
333 8
825 5
697.6
191.5
1785
210.9
91 2
255.4
237 5
409 1
317 3
293.4
3249
2483
271.6
300.1
207 5
283.9
291 1
212.0
312 7
302 1
288.7
233.5
277 7
253.3
2550
264 1
2234
245 2
1896
140.7
125.8
145 0
119 1
1768
213 8
217.8
218.6
r
294 8
277 2
271 3
349.4
187.4
289 7
246 9
2645
3100
281 8
2640
301.0
253.1
260.6
291.6
261 8
213 5
239 3
248.1
242.8
251 9
245.5
251.8
242 0
298 9
279 4
274 8
352.5
189.1
295 7
246 9
2674
313 3
284 8
2669
304.3
253.6
263.2
285.2
264 7
195 4
246 6
249.8
236.1
238 3
233.7
231.3
257 8
2619
300 7
276 4
2615
292.5
257.3
264.4
257.7
277 7
213 1
244 3
252.4
240.4
2508
245.2
237.4
248 8
2899
273 6
265 8
342.8
184.7
310 6
2433
625.9
477 5
341 7
857 9
736.0
193.2
181 0
211.3
91 0
258.5
238 6
3778
332 6
296.6
3316
2527
273.5
304.9
211 9
289.3
2936
215.4
322 8
2906
296.3
240.0
2856
259.6
262 0
271 0
2249
240 5
1924
147.3
129.2
142 8
121 5
1786
2239
226.4
228.5
285 8
277 3
360.8
190.9
312 7
248 5
663.8
480 8
345 4
858 8
767.8
692.2
481 3
350 4
867 6
822.4
703.8
4864
355 8
884 5
839.1
194.6
182 3
212.1
91 7
195.4
183 0
214.4
91 3
262.4
240 5
196.4
183 8
216.9
91 3
264.9
241 1
322 5
293.6
3247
337 8
298.1
3313
2592
281.2
314.7
217 8
298.1
2987
218.8
3309
2880
310.2
245.6
289 5
256.8
270 6
275 5
2309
250 3
1965
151.6
134.6
145 7
124 1
182 1
226 3
231.5
233.2
278 8
263 4
2606
327.5
176.8
3045
2393
593.5
471 3
338 3
786 2
696.4
189.5
177 2
208.5
91 6
247.8
2355
356 1
298 1
292.2
3280
2447
263.9
295.7
206 0
280.2
2873
208.8
304 5
3022
286.8
230.1
277 3
251.8
252 8
258 7
2220
242 1
186 6
139.5
124.3
141 0
117 0
1750
212 9
204.4
205.6
217.4
218.2
2807
250.9
284.3
248 1
286 6
r
268 1
r
263 3
334.6
r
!82.6
r
317 1
r
241 4
r
615.7
r
475 3
r
337 6
r
844 3
•717.0
193.1
r
!79 5
r
212.1
91 0
r
256.9
r
236 9
3928
332 4
299.4
3330
r
2498
r
272.9
r
301.4
208 9
r
285.7
r
2906
r
214.0
r
316 4
r
2934
r
291.2
r
233.6
r
277 6
252.7
r
256 7
r
2694
r
2233
r
245 2
!90 4
140.8
128.2
144 0
120 1
1775
r
214 3
r
224.3
'226.2
r
267 5
220 8
244 6
250.0
242.2
251 7
245.5
244.1
243 9
257.4
240 8
367 3
3100
294.5
3278
2548
277.2
308.4
2136
291.2
2937
216.1
3230
2862
297.7
240.4
2866
257.3
266 2
273 1
2265
243 1
193 1
147.8
129.6
143 1
122 2
1793
225 4
228.5
230.2
2569
278.7
311.3
215 9
294.7
296 1
217.6
3280
285 5
301.2
245.2
2869
257.6
268 4
274 o
2288
2482
1945
149.6
133.9
144 0
122 5
180 1
225 4
228.5
229.9
247.4
243.4
253 5
245.8
258.7
239 2
302 8
Seasonally Adjusted $
Finished goods, percent change from previous
month *
By stage of processing: t
Crude materials for further processing 1967—100
Intermediate materials, supplies, etc
do....
Finished goods $ ..
do
Finished consumer goods
do
Food
do....
Finished goods exc foods
do
Durable
do ...
Nondurable
do
Capital equipment
do....
See footnotes at end of tables.
11
0.8
05
08
17
12
03
09
2884
2740
2399
242 1
2329
2412
2008
2759
232.1
283 1
274.7
241 7
2433
229.8
244 5
2015
2815
235.8
286 1
2764
2428
2445
2308
2458
2017
2836
236.6
2883
2784
2448
2466
232.1
2482
2047
2856
238.2
3036
2810
2490
2512
2406
2508
2077
287 8
241.1
3175
2837
2520
2543
2470
2523
2094
289 1
243.6
3218
2852
252 7
255 1
2483
2528
209 1
2903
243.9
3272
2876
255 1
257 1
2500
2548
2123
2914
248.1
r
07
3307
2902
2569
2589
2508
260 1
2133
2948
249.7
r
04
r
328 1
r
2935
r
257 8
r
2597
r
2509
r
2612
r
2129
r
297 4
r
250.8
r
07
08
13
08
322 1
2968
2597
2615
2506
r
2640
2125
302 3
253.0
3314
2979
261 9
2636
2492
267 5
2135
307 7
255.8
3270
301 1
265 2
2672
251 1
2719
2137
315 0
257.7
3318
3043
2673
2693
251 1
2748
2153
318 8
260.1
S-8
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
May 1981
1981
1980
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
COMMODITY PRICES—Continued
PRODUCER PRICES—Continued
(U.S. Department of Labor Indexes) — Continued
Seasonally Adjusted
By durability of product:
Total manufactures
Durable manufactures
Nondurable manufactures
255.5
245.4
2657
256.2
246.2
2668
257.3
246.2
2694
259.3
248.5
270 1
262.5
251.3
2745
266.0
253.0
2795
265.7
252.8
2794
268.5
255.7
2824
270.5
257.4
2853
273.3
2612
2859
(2)
(2)
0.417
0.417
1967=100..
do....
do
0.413
0.412
0.411
0.408
0.408
0.404
0.401
0.404
0.398
0.401
0.398
0.397
0.391
0.394
0.390
0.390
0.389
0.387
0.385
0.384
19332
(2)
PURCHASING POWER OF THE DOLLAR
As measured by:
Producer prices
Consumer orices i
fl
1967 = $1.00..
do....
0.459
0.460
0.405
0.405
0.381
0.380
0.377
0.377
16 820 16 182
15 134 13 112 12 689
r
6614 r6,200
7,424
r
4,881 r4,643
5,365
17795
r
4042
1,063
r
2283
4426
1,260
2431
0.374
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE @
New construction (unadjusted) total
Private total #
Residential
New housing units
mil $
do
do....
do....
Nonresidential buildings, except farm and
public utilities total $
mil $
Industrial
do....
Commercial
do
Public utilities:
Telephone and telegraph
do....
Public total #
Buildings (excluding military) #
Housing and redevelopment
Industrial
... do....
do....
do
do
Military facilities
do
Highways and streets
do....
New construction (seasonally adjusted at annual
rates) total
bil $
Private total #
228 950
179 948
99,030
78,587
228 705
173 578
86,903
62,794
17003
17909
18873
19706
19975
20483
20365
13869
6,836
4,731
14212
6,963
4,695
14568
6,959
4,753
14522
7,134
4,993
15054
7,556
5,405
21 156
15418
7876
5,783
21352
13365
6,686
4,905
15966
8,154
6,061
15717
8,277
6,182
47298
14,950
24924
51891
14,023
29340
3969
1 113
2209
4202
1,106
2419
4373
1 174
2500
4543
1,274
2564
4375
1,153
2504
4503
1,187
2580
4473
1 178
2529
4676
1,178
2702
4529
1,157
2586
4481
1,265
2474
565
4661
1,547
132
156
155
1,186
607
5,139
1,701
141
165
149
1,497
6,343
6,745
557
591
49003
55,128
3638
4,040
15,857
1 211
1411
1640
11,915
18,928
1658
1791
1,378
133
189
146
574
1,483
132
151
146
843
237 1
1806
940
684
2258
1715
835
607
2189
1648
770
55.2
523
13.9
299
527
13.6
309
584
568
596
620
532
5,453
5738
5,386
4,648
1,704
148
150
174
1,590
5429
1,777
129
145
197
1,488
1,813
139
201
176
1,637
1,672
157
107
153
1,644
1,638
149
112
148
1,135
548
4,198
1,645
163
174
145
786
2150
1613
734
51.9
2143
1586
743
52.2
215 1
162 1
786
56 1
2237
2288
2358
2474
1679
844
608
1738
892
635
1822
970
69.2
1892
1002
71 1
2619
1964
1032
75.4
529
14.2
30 1
529
15.0
296
494
13.3
28 1
49 1
13.0
280
490
13.1
274
502
13.0
284
51 1
13.4
289
546
15.1
304
587
15.1
336
7.0
56.5
18.5
19
21
19
136
7.3
54.3
18.3
18
18
20
14 4
6.6
54.1
18.5
15
18
17
132
6.8
53.7
19.4
16
18
17
140
6.7
55.7
18.0
16
1.8
2.0
138
6.3
531
19.5
15
16
23
113
6.7
55.8
19.4
14
24
17
138
6.3
55.0
18.8
16
14
21
136
6.3
53.6
19.5
17
14
18
124
6.2
582
20.9
21
22
17
137
7.1
65.5
20.3
23
23
21
199
19.4
r
20
18
20
178
58.2
19.9
22
20
20
15 1
!0 945
155
r
3263
r
7682
11071
130
3724
7348
11 135
125
3534
7601
12425
145
3867
8558
13466
148
3783
9684
15 146
192
3488
11657
13077
163
3559
9518
13886
167
3459
10428
13296
210
3367
9929
12513
193
3238
9275
10467
185
3242
7225
10405
177
3007
7399
13904
183
3649
10255
1853
13,472
do
Residential
do
New housing units....
do
Nonresidential buildings, except farm and
public utilities total #
bil $
Industrial
do....
Commercial
do
Public utilities:
Telephone and telegraph
do....
Public, total #
do....
Buildings (excluding military) #
Housing and redevelopment
Industrial
do....
do
do
Military facilities
Highways and streets
do
do
....
4 110
1,093
2324
14074
6913
5,188
455
3,708
1,502
150
181
155
668
452
r
3,493
1,364
143
135
169
r
597
3,721
1,472
153
179
152
638
r
2540
1934
1007
r
744
2480
r
580
15.2
r
330
58 1
15.7
328
1898
970
72.4
6.9
r
606
CONSTRUCTION CONTRACTS
Construction contracts in 50 States (F.W. Dodge
Division, McGraw-Hill):
Valuation total
mil $
Index (mo. data seas, adj.) $$
1972=100..
Public ownership
mil $
Private ownership
do
By type of building:
Nonresidential
do
Residential
do....
Non-building construction ....
do
New construction planning
(Engineering News-Record) §
do....
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total (private and public)
. thous
Privately owned
do
One-family structures
do
Seasonally adjusted at annual rates:
Total privately owned @ @
One-family structures @ @
Manufacturers' shipments of mobile homes
(Manufacfactured Housing Institute):
Unadjusted
Seasonally adjusted at annual rates
See footnotes at end of tables.
147 164
162
41351
105 813
50206
74,557
43683
52345
63,206
31613
r
4053
r
4,435
r
2458
4063
4,373
2635
4 135
4,495
2505
4861
5,092
2471
4819
6,105
2542
4313
5,897
4936
4 419
6,069
2589
5025
6,785
2076
5008
5,847
2441
4709
5,570
2235
4 122
4,207
2 139
4085
4,206
2 114
5345
5929
2630
135,005
149,143
12750
12,397
13057
8,900
9642
8997
9821
13580
17200
13,071
14991
12449
11212
1749 1
12985
1745 1
12922
1 194 1 8522
86 1
85 1
517
966
962
615
92 1
91 7
649
1168
116 4
769
1207
120 1
856
1303
1299
920
1393
1383
950
1530
1527
975
1135
1129
71 2
964
959
566
85 1
845
480
1040
628
1044
650
938
651
1 184
760
1 277
867
1411
971
1482
1032
1519
1009
1 550
1019
1 535
974
1660
993
lr 191
710
r
998
r
r
824
r
r
864
r
508
1094
r
641
1232
•763
1355
r
840
1518
r
884
1351
r
820
1366
r
809
221.5
19.3
231
18.2
206
15.5
165
15.4
166
17.0
207
20.0
208
21.5
239
23.6
236
17.8
239
do....
do
New private housing units authorized by building
permits (16,000 permit-issuing places):
Monthly data are seas. adj. at annual rates:
Total
thous
One-family structures
do....
thous..
do....
r
168 446
186
46646
121 800
1552
982
277.4
r
579
485
1r 249 1 214
715
753
16.0
261
15.8
233
r
r
719
480
1076
r
704
1240
829
1215
r
791
1289
r
833
1343
889
1 165 1 153
r
r
677
678
17.3
256
21.5
255
1 185
691
S-9
SURVEY OF CURRENT BUSINESS
May 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
Mar.
Annual
1981
1980
1980
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES
Dept of Commerce composite
1972 — 100
1996
220 9
2160
216 3
218 8
2226
2237
2239
2243
2246
2252
226 1
2273
American Appraisal Co., The:
Average, 30 cities
Atlanta
New York
San Francisco
St Louis
1913=100..
do....
do
do ..
do
2,357
2,506
2431
2498
2424
2,495
2660
2553
2671
2 343
2,432
2,600
2533
2610
2286
2,418
2561
2510
2609
2261
2,430
2563
2509
2607
2 259
2,502
2672
2528
2626
2 367
2,531
2,726
2580
2722
2383
2,551
2735
2589
2732
2398
2,545
2717
2577
2717
2 384
2,547
2711
2575
2730
2395
2,556
2,715
2579
2738
2399
2,566
2,723
2587
2744
2406
2,578
2,773
2621
2,820
2396
Boeckh indexes:
Average, 20 cities: @
Apartments, hotels, office buildings 1972=100..
Commercial and factory buildings
do....
Residences
do .
170.5
179.0
1766
186.0
195.2
1860
179.9
189.3
1827
Engineering News-Record:
Building
Construction
2693
2795
287 7
301 4
283 9
294 1
3083
3479
3369
r
1967—100
do
Federal Highway Adm. — Highway construction:
Composite (avg. for year or qtr.)
1967—100..
CONSTRUCTION
183.1
191.7
1850
282 6
2933
279 9
2922
192.6
201.8
1888
187.8
1973
1857
284 1
2977
289 0
3035
292 1
3076
292 4
3090
296 0
3125
3454
3602
231 2
2,581
2781
2639
2821
2357
2,576
2,788
2629
2,834
2346
2986
3143
2,600
2,807
2644
2,855
2361
197.1
206.8
1949
194.8
204.7
192.6
194.0
203.2
191 4
292 5
3097
2277
2982
3139
298 4
3140
2980
3150
3055
3214
3497
MATERIALS
Output indexes:
Iron and steel products
Lumber and wood products
Portland cement
1947-49 — 100
do . .
do....
1656
1912
225.2
Mortgage applications for new home construction:
FHA net applications
thous. units..
Seasonally adjusted annual rates
do....
133.8
141.4
9.9
119
10.0
110
12.3
116
10.9
123
216 1
2022
157
180
149
159
148
166
17 4
209
REAL ESTATE U
Requests for VA appraisals ...
Seasonally adjusted annual rates
do
do....
Home mortgages insured or guaranteed by:
Fed. Hous. Adm.: Face amount
mil. $.. 18,166.74 16,458.53 1,287.33 1,367 96
Vet. Adm.: Face amount §
do.... 16,505.50 13,855.54 1,252.31 1,148.69
Federal Home Loan Banks, outstanding advances
to member institutions, end of period
mil. $..
41,838
48,963 44,122 44,660
New mortgage loans of all savings and loan
associations, estimated total
mil $
By purpose of loan:
Home Construction
do
Homf purchase
do....
All other purposes
...
do
15.6
186
16.5
185
12.9
137
9.6
133
11.3
176
7.4
129
8.3
119
13.0
148
11.3
125
210
243
203
242
19 8
211
12 9
188
11 3
169
125
177
149
191
173
190
182
194
92669
848.02
91870 1 324.06 1 506 58 1 461 37 1 584 55 1 242 93 1 351 14 955.33
740.56 817.14 944.00 1,623.90 1,133.39 1,135.18 954.90 917.26
84936
745.20
983.70 1 121.55
706.41 769.70
43,366
42,364
48,206
49,175
15.4
163
223
246
41,473
42,605
44,161
46,115
47,322
48,963
48,581
r
100 546
72537
5723
4581
3241
4 130
5711
8339
9500
9336
6574
6942
4285
20583
62740
17223
14 946
42957
14 634
1 119
3547
1057
969
2793
819
706
1848
687
915
2374
841
1 238
3498
975
1 556
5208
1 575
1 803
5708
1 989
1 886
5552
1 898
1 391
3821
1 362
1 454
3748
1 740
1 029
2315
941
888
1966
r
822
1 160
2507
I'lOO
3 676
r
4767
DOMESTIC TRADE
ADVERTISING
McCann-Erickson national advertising index,
seasonally adjusted:
Combined index
1967-100..
Network TV
do
Spot TV
do/..
Magazines
do....
Newspapers
do
274
312
293
235
246
295
332
293
266
274
297
332
342
236
270
302
343
339
252
261
311
360
329
263
276
305
341
335
243
294
326
370
349
280
291
314
363
360
253
265
294
330
354
227
259
Magazine advertising (Publishers Information
Bureau):
Cost, total
mil. $..
Apparel and accessories
do....
Automotive incl accessories
do
Building materials
do....
Drugs and toiletries
.
do
Foods, soft drinks, confectionery
do....
2,671.1
923
2237
466
2690
200.7
255.7
100
243
40
21 6
19.5
261.3
132
202
62
25 4
18.8
266.9
89
23 9
65
28 3
15.3
234.4
59
20 1
50
24 9
17.3
170.8
53
127
30
21 o
15.2
175.3
78
84
29
23 6
13.4
251.0
159
120
52
27 8
14.4
275.2
130
24 3
46
25 9
19.6
311.5
119
27 3
39
274
29.4
254.3
97
22 1
24
226
18.4
184.3
67
148
23
237
9.0
225.7
62
24 0
32
21 9
17.9
268.0
12 1
257
32
24 9
18.4
do....
do....
do
do
do
do
2361
1308
699
357
281 2
1 0852
195
11 2
67
26
27 1
109 2
203
149
71
31
244
107 7
202
16 5
66
32
24 8
112 9
229
11 8
58
22
243
94 2
137
79
34
09
213
663
11 9
79
4o
23
23 1
69 9
167
123
74
33
256
110 5
220
14 6
72
31
24 9
116 0
276
18 4
7g
27
24 2
131 2
369
108
45
14
234
102 2
115
89
43
19
207
80 4
14 4
78
38
19
24 8
99 9
178
11 6
58
2i
300
116 5
Newspaper advertising expenditures (64 cities): $
Total
mil $
Automotive
do....
Classified
do....
Financial
do
General
do
Retail
do....
75290
1930
2,201.7
2368
9378
3,959.8
743 7
173
213.9
256
104 4
382.4
669 4
155
177.7
30 0
101 3
344.9
706 7
159
182.3
25 9
103 0
379.6
695 2
147
188.3
24 9
96 5
370.8
586 3
129
172.0
24 3
72 1
305.0
675 0
136
196.8
16 0
78 1
370.5
650 2
152
180.8
21 9
93 2
339.2
738 4
156
183.8
27 7
105 9
405.4
810 0
167
185.3
24 4
113 7
469.9
680 5
113
136.2
27 9
76 6
428.5
671 2
162
197.7
33 9
100 6
322.7
703 8
19 4
199.2
24 6
113 3
347.4
840 3
225
235.0
31 2
136 2
415.4
84,101
36737
47,364
83,106
35913
47,193
83,507
34947
48,560
81,607
35508
46,099
86,052
35757
50,295
86,311
36010
50,301
90,715
38 112
52,603
99,023
41 298
57,725
91,328
36679
54,649
97,659
38598
59,061
93,845
35927
57,918
r
89,641
r
37 054
r
100,897
42 178
58,719
97,808
62489
35.319
97,467
63506
33.961
97,480
64620
32.860
97,785
65 133
32!652
98,387 100,205 101,310 104,277 105,866 105,449 105,446 407,209 107,571
r
64730 65 894 65273 65 137 65857 66716 66230 r68 251 69 148
33.657 34.311 36.037 39.140 40.009 38.733 39.216 38.958 38.423
Beer, wine, liquors
Houshold equip., supplies, furnishings
Industrial materials
Soaps cleansers etc
Smoking materials
All other
.
8 192 3
1836
2,191.8
298 0
1 122 7
4,396.3
WHOLESALE TRADE t
Merchant wholesalers sales (unadj.), total
Durable goods establishments
Nondurable goods establishments
mil. $..
do .
do....
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total
mil. $..
Durable goods establishments
do
Nondurable eoods establishments
do....
See footnotes at end of tables.
915,163 1,043,886
410 079 438 439
505,084 605,447
93,778
59 198
34.580
105,449
66716
38.733
52,587
51,530
S-10
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
May 1981
1980
1980
Mar.
Annual
Apr.
May
June
July
1981
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
DOMESTIC TRADE—Continued
RETAIL TRADE
All retail stores: t
Estimated sales (unadj.), total t
mil. $..
894 343
956,655
75998
75,154
79,202
77,366
79,860
81,740
77,579
84,000
83,816 100,755
77,361
r
r
Durable goods stores #
do....
Building materials, hardware, garden supply,
and mobile home dealers #
mil. $..
Building materials and supply stores .. do....
Hardware stores
do
304 809
297 926
24 160
23,652
24,247
24,747
26,032
25,256
24,506
26,698
25,121
28,093
23,239
r
r
50,272
35,255
7838
48,210
33,682
7743
3,532
2,409
566
3,899
2,647
647
4,287
2,865
720
4,259
2,942
666
4,247
3,028
671
4,289
3,071
641
4,434
3,215
642
4,672
3,398
692
4,152
2,936
659
3,971
2,616
825
3,351
2,360
565
14211 13489
12,600 11,965
1 611 1524
15027
13330
1697
13264
11,699
1548
13016
11,365
1651
74,321
23,857
84,207 '86,274
28,095
r
3,359
r
2,360
r
r
4,048
2,804
651
538
'28,159
'4,570
13,351 14 370 17 179 16395
11,926 13,011 15,585
1425 1359
1594
Automotive dealers $
Motor vehicle dealers
Auto and home supply stores
do
do. .
do
177 251
161 110
16 141
167 017
148 799
18218
14 481
13 125
1356
13595
12037
1558
13487
11924
1563
14098
12542
1556
15 176
13527
1649
Furniture, home furn., and equip #
Furniture, home furnishings stores
Household appliance, radio, TV
do....
do....
do....
41,868
25,692
12,428
43,198
26,228
13,190
3,406
2,092
973
3,326
2,048
956
3,444
2,123
1,006
3,389
2,053
1,044
3,636
2,172
1,139
3,712
2,244
1,119
3,626
2,170
1,083
3,822
2,309
1,126
4,048
2,421
1,207
4,905
2,566
1,634
3,616
2,152
1,074
do....
do....
do....
do
589 534
109,740
2
88 520
8385
658 729
116,287
94 185
8856
51838
8,320
6723
652
51,502
8,614
6,927
712
54,955
9,476
7,682
737
52619
8,713
7,066
679
53,828
8,630
6,974
679
56,484
9,640
7,834
741
53,073
8,923
7,299
635
57,302
10,105
8,198
735
58,695
11,821
9,642
787
72,662
18,365
14,859
1397
54,122
7,279
5,873
566
Food stores
Grocery stores
Gasoline service stations
do
do .
do....
195 826
182 365
73,202
217511
202 065
94,470
17550
16325
7,433
17223
15,951
7,619
18756
17,478
8,008
17638
16356
8,254
18640
17,343
8,504
19 115
17,812
8,470
17712
16,474
7,982
18853
17,561
8,244
18485
17,195
7,951
20212
18,506
8,350
19 195 17 477 18 823 19456
17,830 16,133 17,373 17,974
r
8,047
7,616 r8,315 '8,558
Apparel and accessory stores #
Men's and boys' clothing
do....
do....
42,375
7,830
44,487
8,025
3,281
546
3,475
574
3,523
615
3,295
633
3,263
563
3,913
683
3,586
608
3,931
702
4,179
801
6,335
1,283
3,279
565
r
Women's clothing, spec, stores, furriers do....
Shoe stores
do
15,802
7 127
16,991
8040
1,276
626
1,337
697
1,358
656
1,223
604
1,272
577
1,468
724
1,409
693
1,546
724
1,582
750
2,339
942
1,258
614
1,141
r
530
79,576
28,107
15294
86,612
31,557
16556
6,913
2,447
1 273
7,052
2,483
1269
7,488
2,598
1394
7,475
2,499
1348
7,635
2,518
1398
7,920
2,563
1420
7,276
2,507
1277
7,518
2,693
1347
7,142
2,665
1407
7,510
3,775
1926
7,065
2,722
1275
76,404
75,975
77,843
79,491
79,829
80,620
81,552
82,764
83,443
85,463
r
r
26,007
25,983
27,075
r
r
4,596
3,246
731
Nondurable goods stores
General merch. group stores
Department stores
Variety stores
Eating and drinking places
Drug and proprietary stores
do....
do....
Estimated sales (seas, adj.), total t
do....
77,603
r
3,351
r
2,020
r
r
3,710
2,261
1,066
976
r
50,464
r
7,160
r
5,783
r
557
r
56,112 '58,115
r
8,968 19,775
r
7,346 '7,968
665
r
2,911
r
494
3,446
534
'4,007
1,380
660
6,742 r7,664
2,530 r2,680
1 195 1261
r
86,810
'3,766
'7,989
'2,750
87,174 '86,309
24,127
23,011
22,544
23,589
25,071
24,593
25,094
25,293
3,917
2719
630
3,846
2715
614
3,828
2698
626
3,792
2634
622
3,808
2633
634
3,844
2670
633
4,039
2,820
639
4,084
2863
646
4,251
2,963
662
4,261
2,963
689
do....
do
do....
13517
12 119
1398
12,508
11013
1,495
12,142
10646
1,496
13,174
11689
1485
14,451
12871
1,580
13,940
12389
1,551
14,173
12661
1,512
14,258
12695
1,563
14,593
13042
1,551
14,413
12,827
1,586
Furniture home furn., and equip. # .. . do....
Furniture home furnishings stores
do
Household appliance radio TV
do
3568
2 148
1056
3,524
2 109
1051
3,524
2 115
1055
3,484
2059
1084
3,628
2 168
1,099
3,702
2233
1,097
3,682
2210
1093
3,802
2267
1,137
3,817
2241
1,151
53476
9,369
7579
729
53,393
9,266
7489
726
53,431
9,410
7629
736
54254
9,417
7622
736
54,420
9,506
7715
731
55,236
9,722
7905
740
55,526
9,649
7,840
722
56,259
9,940
8045
739
56,757
10,025
8,171
732
57,460
10,093
8,146
738
58,388 r58,482 r58,941 '59,522
9,994 10,306 10,301 10,377
r
8,078
8381 r8453 '8477
r
775
770
764
do....
do
do...
17664
16457
7624
17,725
16478
7,727
17,591
16365
7,737
17,953
16690
7983
18,088
16805
7918
18,405
17078
7,998
18,577
17250
7,990
18,592
17 267
8,090
18,808
17457
8,130
19,098
17709
8,284
19,072 19,112 19,506 19,750
17601 17 632 18 059 18322
r
8,497
8,596 r8,546 '8,662
Apparel and accessory stores #
do....
Men's and boys' clothing
do
Women's clothing, spec, stores, furriers do....
Shoe stores
do
3,582
635
1366
654
3,574
613
1,393
648
3,633
654
1,387
664
3,687
679
1399
667
3,675
674
1,404
663
3,785
736
1,435
677
3,724
699
1,416
670
3,771
702
1,431
672
3,777
683
1,438
687
3,789
666
1,450
677
3,945
642
1,549
728
Eating and drinking places
do
Drug and proprietary stores
do....
Liquor stores
do
Estimated inventories, end of year or month: t
Book value (unadjusted) total
mil. $
Durable goods stores #
do
Building materials and supply stores .. do....
Automotive dealers
do .
Furniture, home furn., and equip
do....
7069
2523
1385
7 102
2,549
1390
7044
2,580
1379
7085
2,587
1371
7096
2,604
1346
7 135
2,623
1367
7276
2,667
1348
7371
2,742
1369
7416
2,760
1371
7,563
2,755
1386
7885
2,815
1390
108 717 109 393 110 867 109 997 109 454 109 268 108 482 111,826 117 264 119,039 108,717
51 159 53522 53895 53 108 52418 51306 49619 49678 51457 52807 51 159
8,975
9,059
8,927
8,909
8,695
8,695
9,389
9,109
8,878
8,902
9,299
24457 26461 26300 25,731 24983 24081 22,159 21,821 22913 24,031 24,457
8,671
8,413
8,391
8,463
8,269
8,380
8,420
8,525
8,008
8,008
8,223
57558 55871 56972 56889 57036 57962 58863 62 148 65807 66,232 57,558
19894 20485 21 181 21082 21066 21363 21898 23439 25328 25460 19894
14819 14,915 15,429 15,383 15,376 15,508 15,933 17,031 18,461 18,824 14,819
12471 11551 11586 11 570 11 710 11745 11 791 12003 12673 12,957 12,471
8,617
8,729
8,736
9,388 10,088 10,493 10,556
9,120
9,120
9,015
8,713
111 694 108 841 109 745 109 498 109 438 110 003 110 283 111711 113 106 112,639 111,694
51,853 52,190 52,282 51,648 51,453 51,249 51,675 51,738 52,066 52,209 51,853
9102
8916
8965
9008
9,082
9,076
9076
9045
8861
8869
9019
24,263 25,129 24,905 24,366 24,045 23,866 24,191 24,138 24,298 24,447 24,263
8,346
8,285
8,163
8,379
8,383
8,438
8,344
8,372
8,328
8,163
8,298
59841 56651 57462 57851 57985 58754 58608 59,972 61040 60,430 59841
22,581 22,310 21,861
21,861 21,036 21,308 21,315 21,365 21,603 21,549 21,991
16 178 15282 15444 15476 15594 15841 15791 16 128 16439 16326 16 178
12372 11505 11609 11652 11 722 11876 11,983 12,112 12292 12,411 12,372
9,487
9,195
9,481
9,518
9,470
8,784
8,962
9,025
9,162
9,470
8,882
r
!08,147
r
51 904
r
8,816
r
24,931
r
Durable goods stores #
do....
Building materials, hardware, garden supply,
and mobile home dealers #
mil. $..
Building materials and supply stores do
Hardware stores
do....
Automotive dealers
Motor vehicle dealers
Auto and home supply stores
Nondurable goods stores .
General merch. group stores
Department stores
Variety stores
Food stores
Grocery stores
Gasoline service stations
do. ..
do....
do
do....
..
(2)
106 169
52691
8,609
26763
8,146
3,626
2 144
1 130
do
do
do....
do
do....
53478
18628
13734
11517
8,547
do
do....
do
do....
do....
108 835
53,274
8986
26,524
8,287
do
do....
do
do
do....
55561
20,456
14993
11414
8,875
Firms with 11 or more stores:
Estimated sales (unadjusted), total
mil. $..
296,593
324,279
24,933
24,983
26,939
25,215
25,841
27,678
25,927
28,491
30,205
39,694
Durable goods stores
Auto and home supply stores
do....
do
22,568
3338
23,390
3501
1,682
261
1,792
302
1,938
303
1,887
305
1,910
313
1,935
306
1,904
293
2,057
321
2,175
303
Book value (seas adj ) total
Durable goods stores #
Building materials and supply stores
Automotive dealers
Furniture, home furn., and equip
Nondurable goods stores $
General merch. group stores
Department stores
Food stores
...
..
Apparel and accessory stores
Nondurable goods stores $
General merchandise group stores
Department stores
Variety stores
Miscellaneous general stores
See footnotes at end of tables.
do ..
do....
do
do....
do....
274 025
95,933
83857
6,258
5.818
300 889
101,963
89229
6627
6.107
23251
7,286
6378
486
422
23,191
7,514
6559
523
432
25,001
8,302
7280
542
480
23328
7,642
6700
501
441
23931
7,546
6616
500
430
25,743
8,477
7438
555
484
24,023
7,842
6,914
482
446
26,434
8,837
7757
551
529
28,030
10,448
9 127
610
711
36,593
16,193
14054
1,085
1,054
r
4,596
r
3233
r
738
28,233 '26,787
r
4,488
3 147
727
'4,446
14,965 16,315 16,183 14,675
13355 14 603 14538
1,610
1,712
1,645
4,016
2404
1,201
r
3,888
r
2319
1,163
r
56 243
19 397
14,366
12,167
r
8,624
3,890
2314
1 161
'3,968
4,022
r
681
1,557
r
755
r
3,944
639
1,530
739
'4,007
7876
2,768
1404
r
7958
r
'7933
'2,812
r
57677
20 188
14,819
12514
9,043
111 790 112791
r
52,234 52,246
r
9,061
9096
r
24,491 24,273
r
8,196
8,322
r
59
r
556
21,614
15 980
12315
r
9,394
60545
21,945
16 178
12782
9,661
r
25,080
23,697
1,606
260
1,565
250
23,474
r
6,314
r
5564
r
414
r
336
22 132
6,276
5499
419
358
r
r
r
109 961
52284
9,151
24783
7,975
8,122
3,101
320
Nondurable goods stores #
General merch group stores
Department stores
Food stores
....
..
Apparel and accessory stores
28,328
2,749
1401
SURVEY OF CURRENT BUSINESS
May 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
S-ll
1981
1980
Apr.
Mar.
Annual
May
June
Aug.
July
Nov.
Oct.
Sept.
Jan.
Dec.
Feb.
Mar.
Apr.
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
Firms with 11 or more stores— Continued
Estimated sales (unadjusted) — Continued
Nondurable goods stores—Continued
Food stores
Grocery stores
mil. $..
do....
113214
111,857
9761
9,653
8890
8,775
9 126
9,016
9,003
8,897
9,898
9,788
9608
9,497
9209
9,105
9940
9,832
9,764
9,653
10652
10,486
r
!0,281
10,153
r
9,197
9,048
do....
1,196
1,200
1,107
1,068
1,404
1,227
1,354
1,468
2,312
979
924
464
244
300
491
264
332
503
282
297
450
270
269
467
259
242
554
347
345
496
282
325
555
325
332
595
359
343
912
630
460
r
384
r
240
r
251
382
218
233
15 165
13,720
17011
15,665
1388
1,174
1398
1,211
1457
1,286
1,409
1,237
1,493
1,260
1,567
1,292
1502
1,297
1447
1,330
1505
2,055
1413
1,317
1336
1,229
26,100
274
7,158
541
8,980
26,073
287
7,083
543
9,093
26,226
288
7,229
545
9055
26,570
284
7,235
549
9,239
26,849
298
7,294
546
9,366
27,344
298
7,475
556
9,512
27,368
296
7,418
550
9,604
27,752
293
7,620
565
9630
28074
295
7768
558
9672
28359
298
7735
557
9883
28,474
308
r
7696
r
572
r
9810
29,104
329
7970
589
9889
do....
do
do....
do
1,213
504
306
1232
1,210
508
302
1250
1,233
505
307
1282
1,255
520
301
1318
1,278
513
311
1328
1,257
513
307
1340
40,387
11,391
28996
36,953
10454
26499
36,566
10914
25652
36,220
10832
25388
36,157
10,973
25 184
36,046
11 138
24908
do.
do....
12268
28,119
11458
25495
11 493
25073
11250
24970
11 371
24786
11 426
24620
(2)
do....
do
do....
37,437
11 194
26,243
37452
10888
26564
37 108
11066
26042
36434
10763
25671
36526
10790
25736
36972
10938
26034
(2)
do....
do
Apparel and accessory stores
Women's clothing spec stores furriers
Shoe stores
Drug stores and proprietary stores
1,117
6,191
3664
3,707
do....
do
do....
do
do....
.
15,204
5,876
3455
3,420
do....
do....
Eating places
Drug stores and proprietary stores
14,285
mil. $..
do
do....
Apparel and accessory stores #
Women's clothing, specialty stores,
furriers
Family clothing stores
Shoe stores
Estimated sales (sea. adj.), total #
Auto and home supply stores
Department stores
Variety stores
Grocery stores
102 496
101,270
11,743
25694
11413
26039
11375
25733
10929
25505
11256
25270
11 716
25 256
(2)
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
Charge accounts
Installment accounts
1,244
509
301
1 295
1 427
1,233
1 297
526
314
1 361
1291
518
313
1 360
r
1324
528
317
1 361
1328
r
538
r
317
1395
1384
570
339
1 393
(2)
(2)
(2)
(2)
(2)
(2)
(2)
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total incl armed forces overseas $
mil
r
'227 64
227 02
r
227 20
r
227 46
r
227 66
r
227 86
r
228 09
r
228 30
r
228 50
r
228 67
r
228 83
22898
229 12
LABOR FORCE
Not Seasonally Adjusted
Labor force, total, persons 16 years of age
and over
.
Armed forces
Civilian labor force total
Employed
Unemployed
thous..
do
do..
do....
do
104 996
2084
102 908
96,945
5963
106 821 105 441 105 505 106 115 108 159 109 095 108 240 106 841 107 536 107 406 106 902 106,796 106,929 107,533 107,807
2 125
2 121
2 128
2 129
2092
2099
2 114
2 121
2 121
2 119
2 124
2 102
2088
2090
2092
104 719 103 351 103 412 104 028 106 067 106 997 106 126 104 720 105 415 105 287 104 778 104,671 104,808 105,405 105,678
97,270 96546 96566 96709 97,776 98,587 98,115 97,256 97,933 97,801 97,545 96,128 96,383 97,318 98,282
8,087
8,543
8,425
7,396
7233
8291
8410
8011
7464
7482
7486
7318
7448
6805
6846
Seasonally Adjusted H
Civilian labor force total
Participation rate *
Employed total
Employment-population ratio *
Agriculture
Nonagriculture
do
percentthous
percentthous
do....
Unemployed, total
do....
Long term, 15 weeks and over
do....
Rates (unemployed in each group as percent
of civilian labor force in the group):
All civilian workers
Men 20 years and over
Women 20 years and over
Both sexes, 16-19 years
63.7
59.3
3297
93648
1,202
104 171 104 427 105 060 104 591 105 020 104 945 104 980 105 167 105 285 105 067 105,543 105,681 106,177 106,722
63.8
63.8
64.0
64.3
63.6
63.8
63.8
63.8
63.8
63.8
64.1
63.9
63.7
63.8
97628 97225 97 116 96780 96999 97003 97 180 97206 97339 97282 97696 97,927 98,412 98,976
58.3
58.4
58.6
58.9
58.1
58.3
58.2
58.3
58.2
58.2
58.5
58.3
58.5
59.0
58.7
3403
3,281
3276
3,463
3210
3399
3319
3340
3394
3352
3232
3267
3310
3337
3262
93960 94291 93963 93764 93548 93732 93793 93,781 93,887 93,999 93,888 94,294 94,646 95,136 95,513
7,847
7,746
7,754
7,764
7,946
7,785
8,021
7,942
7,800
7,961
7944
7,811
6543
7202
2,358
2,250
2,192
2,105
2,329
2,378
1,777
2,150
2,295
2,292
1,686
1,935
1,829
1,599
1,391
63.8
6.3
50
58
16.2
6.9
58
62
16.4
7.6
64
6.5
18.9
7.5
64
6.4
18.3
7.6
66
6.6
18.7
7.6
65
6.5
18.8
7.4
66
6.2
17.8
7.6
6.4
6.7
18.5
7.5
6.4^ L
6.7
18.6
7.4
6.2
6.8
17.8
7.4
6.0
6.7
19.0
7.3
6.0
6.5
19.3
7.3
5.9
6.6
19.1
7.3
5.8
6.6
19.1
63
132
42
5.8
91
55
119
34
5.4
86
61
126
40
5.7
90
68
13.6
46
6.1
83
67
13.5
46
6.0
85
68
13.9
49
6.1
8.8
67
13.7
48
6.0
9.0
65
14.1
47
5.7
9.0
66
14.2
4.6
6.0
10.2
66
14.0
4.4
5.9
9.9
6.5
14.0
4.3
5.8
10.4
6.7
12.9
4.2
6.2
10.5
6.6
13.1
4.1
5.8
9.6
6.5
13.7
4.1
6.0
9.4
6.5
13.2
3.8
5.9
9.8
33
69
37
100
34
82
37
96
38
109
3.7
11 1
3.7
113
3.7
11 1
3.8
108
3.9
108
3.9
107
4.0
10.5
3.9
10.2
3.7
10.1
3.9
9.8
4.0
9.6
57
10.2
5.5
50
Occupation:
White-collar workers
Blue-collar workers
Industry of last job (nonagricultural):
Private wage and salary workers
Construction
ManufactUa ing
Durable goods
7.1
59
63
17.7
51
11.3
27
5.1
83
White
Black and other
Married men spouse present
Married women, spouse present
Women who maintain families
5.8
41
5.7
16.1
74
14.2
8.5
89
63
13.1
6.6
65
70
14.5
7.9
83
8.0
16.6
9.7
104
8.0
15.6
9.7
109
8.0
15.8
9.8
107
8.0
17.3
9.3
10 1
7.8
15.9
9.2
10.0
7.8
14.6
9.2
9.5
7.8
14.8
8.9
9.0
7.7
13.8
8.8
9.0
7.5
13.3
8.4
8.3
7.5
13.2
8.4
8.5
7.3
14.7
8.0
7.9
7.2
14.4
7.4
7.3
89,886
90,652
74,481
90,316
73,871
90,761
74,110
90,849
74,293
91,049
74,655
89,820
74,270
90,072
74,706
90,729
74,965
91,332
75,080
91,693
75,302
91,846
75,494
90,082
73,948
r
90,245
r
r
90,828
r
74,426
P
89,886
73,966
52,904
26,504
960
4.483
90,652
74,481
54,116
25857
1,025
4.468
91,144
74,983
54,045
26476
1,009
4.529
90,951
74,567
53,925
26 121
1,012
4.467
90,468
74,195
53,909
25745
1,023
4.436
90,047
73,817
53,803
25,422
1,029
4.379
89,867
73,710
53,882
25,163
1,013
4,322
90,142
73,998
54,058
25,312
1,013
4.359
90,384
74,275
54,231
25,476
1,028
4,404
90,710
74,551
54,394
25,636
1,037
4,442
90,961
74,797
54,515
25,811
1,054
4,475
91,125
74,980
54,668
25,892
1,072
4,508
91,481
75,346
55,001
26,041
1,086
4,610
r
91,652
r
75,486
r
r
91,714
r
75,601
r
55,201
r
P
EMPLOYMENT t
Employees on payrolls of nonagricultural estab.:
Total, not adjusted for seasonal variation ....thous..
Private sector (excl. government)
do....
73,872
"91,365
74,964
Seasonally Adjusted t
Total employees, nonagricultural payrolls
Private sector (excl. government)
Nonmanufacturing industries
Goods-producing
Mining
Construction
See footnotes at end of tables.
do....
do....
do....
do....
do....
do....
55,112
25,987
1,094
r
4,518
91,494
"75,362
"54,907
26,010 "25,831
1,102
"950
r
4,508 "4,426
S-12
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1981
1980
Mar.
Annual
May 1981
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT f— Continued
Seasonally Adjusted t
Employees on nonag. payrolls—Continued
Goods-producing—Continued
21062
12,772
766
499
710
1,250
1,724
2,482
2,124
2,083
689
446
20365
12,218
687
474
668
1,133
1,627
2,488
2,127
1,892
700
422
20938
12,707
737
494
700
1,209
1,711
2,530
2,176
2,006
705
439
20642
12,442
689
491
680
1,193
1,678
2,518
2,167
1,885
703
438
20286
12,140
654
472
663
1,144
1,620
2,517
2,127
1,819
700
424
20014
11,947
648
461
647
1,096
1,584
2,476
2,094
1,831
696
414
19828
11,819
650
449
641
1,049
1,551
2,448
2,079
1,839
698
415
19940
11,860
662
456
648
1,059
1,569
2,437
2,083
1,840
697
409
20044
11,955
674
464
655
1,074
1,587
2,452
2,091
1,851
697
410
20 157
12,043
677
466
656
1,096
1,595
2,469
2,107
1,873
697
407
20282
12,146
683
469
661
1,119
1,606
2,475
2,120
1,901
701
411
20312
12,160
688
472
660
1,133
1,608
2,480
2,135
1,868
701
415
20345
12,188
693
475
663
1,133
1,608
2,484
2,147
1,866
702
417
do....
do....
do....
do
do....
do
do....
do....
do....
do....
do....
8,290
1,728
70
888
1,312
707
1,240
1,111
210
776
248
8,147
1,689
69
864
1,298
694
1,272
1,113
197
711
240
8,231
1,704
68
888
1,316
708
1,274
1,123
157
749
244
8,200
1,690
69
884
1,302
702
1,272
1,123
175
740
243
8,146
1,691
70
869
1,291
692
1,268
1,120
203
703
239
8,067
1,677
71
843
1,287
685
1,269
1,112
205
681
237
8,009
1,683
69
833
1,276
680
1,266
1,103
207
663
229
8,080
1,690
67
851
1,296
682
1,266
1,100
208
680
240
8,089
1,672
68
851
1,299
686
1,269
1,104
208
692
240
8,114
1,682
69
856
1,292
690
1,272
1,105
209
699
240
8,136
1,686
71
856
1,291
692
1,278
1,108
209
705
240
8,152
1,684
70
857
1,291
693
1,284
1,112
210
711
240
do
do....
do....
do .
do....
do....
do....
do
do....
do....
63382
5,141
20,269
5,204
15,066
4,974
17,078
15920
2,773
13,147
64795
5,155
20,571
5,281
15,290
5,162
17,736
16 171
2,867
13,304
64668
5,202
20,610
5,301
15,309
5,115
17,580
16 161
2,886
13,275
64830
5,178
20,531
5,286
15,245
5,119
17,618
16384
3,115
13,269
64723
5,167
20,487
5,268
15,219
5,137
17,659
16273
2,960
13,313
64,625
5,134
20,459
5,245
15,214
5,150
17,652
16,230
2,951
13,279
64704
5,114
20,506
5,247
15,259
5,167
17,760
16,157
2,893
13,264
64,830
5,129
20,589
5,263
15,326
5,180
17,788
16,144
2,828
13,316
64,908
5,124
20,620
5,280
15,340
5,194
17,861
16,109
2,765
13,344
65,074
5,147
20,641
5,292
15,349
5,214
17,913
16,159
2,788
13,371
65,150
5,132
20,660
5,297
15,363
5,225
17,969
16,164
2,790
13,374
65,233
5,137
20,638
5,302
15,336
5,245
18,068
16,145
2,789
13,356
65,440
5,142
20,762
5,315
15,447
5,268
18,133
16,135
2,801
13,334
Production or nonsupervisory workers on private
nonagric. payrolls, not seas, adjusted
thous..
Manufacturing
do....
60,442
15,085
60,589
14,281
60,106
14,727
60,311
14,466
60,458
14,172
60,730
14,093
60,349
13,657
60,749
13,947
60,991
14,182
61,086
14,204
61,267
14,260
61,427
14,199
59,896
14,049
Production or nonsupervisory workers on private
nonagricultural payrolls t
thous..
Goods-producing
do....
Mining
do
Construction
do....
Manufacturing
do
Durable goods
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....
Electric and electronic equipment @.... do....
Transportation equipment §
do....
Instruments and related products
do....
Miscellaneous manufacturing
do....
60,442
19,386
721
3,581
15085
9,120
653
407
560
984
1304
1,632
1,394
1,427
420
340
60,589
18,560
763
3,516
14281
8,470
575
383
518
870
1207
1,601
1,354
1,228
418
317
61,124
19,181
750
3,581
14850
8,961
621
401
549
941
1286
1,649
1,413
1,339
427
335
60,725 60,325 59,964 59,888 60,136
18,438 18,144 17,901 18,035
18,814
757
753
764
755
770
3,410
3,385
3,509
3,488
3,443
14550 14186 13,931 13759 13,872
8,084
8,123
8,386
8,686
8,205
542
553
577
544
538
366
359
398
380
369
492
498
513
498
530
793
822
877
924
832
1252
1 195
1 166 1 136 1 152
1,561
1,551
1,630
1,622
1,586
1,305
1,309
1,358
1,400
1,320
1,171
1 172
1 220 1 159 1,172
414
415
423
419
415
306
310
332
319
309
60,363
18,181
766
3,443
13972
8,212
563
374
505
817
1 170
1,568
1,315
1 181
414
305
60,567
18,313
772
3,476
14,065
8,288
566
376
506
838
1 178
1,578
1,323
1,207
414
302
60,785 60,901
18,461 18,521
783
796
3,499
3,530
14 179 14 195
8,386
8,381
571
577
378
381
511
510
860
873
1 189 1 191
1,578
1,575
1,347
1,335
1 238 1206
416
417
305
309
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....
5,965
1,187
55
774
1,124
536
701
633
137
607
211
r
20
r
374 r20 400
!2,196 12 226
692
690
r
477
477
r
661
663
1,134 1,135
1,610
1,612
r
2,491
2,495
r
r
2,157
2,149
r
l,865
1,880
r
r
700
702
r
417
415
8,157
1,680
70
858
1,289
694
1,284
1,115
213
713
241
Manufacturing
thous
Durable goods
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....
Electric and electronic equipment @.... do....
Transportation equipment §
do....
Instruments and related products
do....
Miscellaneous manufacturing
do....
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products, nee
Leather and leather products
Service-producing
Transportation and public utilities
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
Government
Federal
State and local
r
P
20 455
12 264
P
687
P
483
P
659
p
l,133
p
l,621
P
2,501
P
2,171
p
l,892
P
699
P
418
P
r
8,178
1,685
71
r
856
1,292
696
1,289
1,118
213
716
242
P
8,191
p
8,174
1,671
r
72
r
855
1,297
695
1,294
1,118
r
213
r
717
242
l,669
P
73
P
858
l,304
P
694
p
l,294
"1,117
P
212
P
726
P
244
p
r
65,665 r65,704
r
r
5,156
5,158
20,885 r20,932
r
r
5,328
5,327
15,557 15,605
r
r
5,277
5,285
18,181 18,216
16 166 16 113
r
r
2,794
2,789
13,372 13,324
P
r
P
r
P
59,781 r60,300
14,046 14,138
65 663
P
5,145
20,808
P
5,342
P
15,466
P
5,300
P
18,278
P
16 132
P
2787
P
13,345
61,183
14 228
P
Seasonally Adjusted t
Service-producing
Transportation and public utilities
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
do....
do....
do
do....
do
do....
do
5,811
1 156
54
752
1,109
524
715
627
124
548
203
5,889
1 169
53
775
1,000
537
717
636
88
582
200
5,864
1 157
54
771
1,111
532
715
637
109
573
205
5,800
1 157
55
756
1,100
522
709
632
131
537
201
5,726
1 143
55
731
1,097
515
711
625
131
518
200
5,675
5,749
1 149 1 157
54
52
721
739
1,107
1,093
509
512
710
708
616
615
132
133
521
502
191 . 203
5,760
1 140
54
740
1,108
515
714
619
133
533
204
5,777
1 149
54
743
1,104
519
712
619
133
540
204
5,798
1 154
55
744
1,104
521
716
623
133
544
204
5,809
1 152
54
745
1,103
523
721
624
134
550
203
61,206 r61,288
18,657 18,595
806 r r811
3,630
3544
14221 14 240
r
8,410
8411
r
580
577
386
383
r
512
511
874
874
1 190 1 191
1,581 1 586
1,355 1,358
1208 1 205
416
413
r
311
310
5,811
1 149
54
744
1,101
524
720
627
136
552
204
42549
4,277
18 186
4,330
13 856
3,975
16 111
41,057
4,304
17818
4,274
13544
3,774
15 161
42028
4,302
18 044
4,316
13728
3,905
15777
41943
4,345
18098
4,347
13751
3,869
15 631
41 911
4,329
18 029
4,334
13 695
3,873
15 680
41887
4,314
17 975
4,308
13667
3,893
15 705
41820
4,280
17 936
4,284
13 652
3,898
15 704
41987
4,260
17 984
4,288
13 696
3,917
15 826
42 101
4,272
18 046
4,297
13749
3,926
15 857
42 182
4,276
18 074
4,307
13 769
3,930
15 902
42254
4,296
18 099
4,317
13 782
3,940
15 919
42324
4,281
18 106
4,318
13 788
3,947
15 990
42380
4,286
18 077
4,325
13 752
3,961
16 056
35.6
35.3
35.2
354
434
366
35.3
353
42 8
367
35.0
35 1
42 7
368
35.3
350
43 2
37 1
35.3
349
41 9
368
35.3
35 1
43 i
365
35.3
352
43 5
37 4
35.3
353
43 5
37 0
35.4
354
43 5
37 2
35.6
354
44 1
37 1
35.1
35 5
43 5
38 5
39.8
398
31
40 3
32
38.7
385
40.9
40.7
39.4
398
30
40 3
30
37.3
385
40.6
40.6
39.3
393
25
39.4
39 1
24
38.8
39 0
25
39.3
394
27
39.8
39 6
27
39.8
39 7
28
40.2
39 9
29
39 7
25
37.5
376
40.3
39.2
39 5
24
37.6
370
40.4
38.8
39 4
24
38.1
366
40.2
38.6
39 9
26
38.9
374
40.3
39.2
40 1
27
38.8
380
40.9
39.7
40 1
28
38.7
380
40.9
40.1
40 5
30
39.3
380
41.1
409
40.8
40 1
31
40 g
32
39.4
386
41.3
41 4
39.9
40 4
31
40 9
31
40.1
38 9
41.6
41 9.
r
6 1,371 P61,183
18618 P18441
r
P
820
694
r
3532 P3436
14 266 P14 311
r
8441 P 8476
P
575
574
P
385
390
P
511
508
r
P
874
873
1 195 p l 200
P
1592 p 1593
1,365
l,375
1r 220 P1238
P
415
414
r
P
309
311
r
r
5,829
5,825
1 153 1 143
55
55
r
744
742
1,103
1,107
r
r
524
525
r
r
723
725
r
r
630
63l
137
137
r
r
555
555
205
205
r
42 693 r42 753
r
r
4,289
4,283
18 275 18 317
r
r
4,336
4,335
13 939 13 982
r
r
3,979
3,982
16 150 16 171
P
5,835
l 140
P
57
P
745
p
n.iio
P
524
P
722
P
632
P
135
"563
P
207
P
42 742
P
4,279
18 212
P
4,350
P
13 862
P
3,998
P
16 253
P
AVERAGE HOURS PER WEEK t
Seasonally Adjusted
Avg. weekly hours per worker on private nonagric.
payrolls: ff Not seasonally adjusted
hours..
Seasonally adjusted
do...
Mining iji
do
Construction
do
Manufacturing:
Not seasonally adjusted
do....
Seasonally adjusted
do
Overtime hours
do .
Durable goods
Overtime hours
Lumber and wood products
Furniture and
fixtures
Stone, clay, and glass products
Primarv metal industries
See footnotes at end of tables.
do
do
do....
do....
do....
do....
43 0
370
432
370
40.2
39.7
3.3
28
408
35
39.4
38.7
41.5
41.4
40 2
28
38.6
380
40.8
40.1
r
r
34.9
35 3
42 8
36 3
35.2
r
35 3
r
42 1
37 6
39.5
39 8
29
r
40 2
29
38.9
r
38 8
r
40.6
40 fi
r
39.9
40 0
r
28
r
40 5
r
29
39.5
r
38 8
r
40.9
M1 1
P
35.1
35 3
43 0
P
36 8
P
P
P
P
39.7
40 1
P
29
P
40 7
P
30
39.3
P
38 7
P
40.9
P
P4DQ
SURVEY OF CURRENT BUSINESS
May 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1981
1980
Mar.
Annual
S-13
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
AVERAGE HOURS PER WEEK f— Cont.
Seasonally Adjusted — Continued
Average weekly hours per worker— Cont.
Manufacturing —Continued
Durable goods—Continued
Fabricated metal products §
Machinery, except electrical
Electric and electronic equipment @
Transportation equipment §
Instruments and related products
Miscellaneous manufacturing
hours
do....
do....
do....
do....
do....
407
41.8
40.3
41.1
40.8
38.8
40 4
41.1
39.8
40.6
40.5
38.7
407
41.3
40.0
40.4
40.4
38.6
408
41.5
39.9
40.5
40.7
38.5
39 9
41.0
39.5
39.7
40.3
38.3
39 7
40.7
39.2
39.5
40.4
38.2
39 6
40.6
39.0
39.6
40.1
38.3
40 1
40.8
39.4
40.9
40.1
38.6
40 4
40.9
39.5
40.6
40.1
38.9
40 4
40.7
39.9
40.8
40.2
38.7
40 6
41.0
40.0
41.4
40.5
38.6
40 6
41.0
40.2
41.3
40.5
39.0
40 7
41.3
40.4
41.9
41.0
39.0
r
404
40.8
39.7
r
40.5
40.6
38.8
8
41.3
"40.2
P
41.9
P
40.2
P
38.4
40.4
38.7
r
Nondurable goods
Overtime hours
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
do....
do....
do....
do
do
do....
39.3
31
39.9
380
40 4
35.3
39.0
2.8
39.7
382
40 1
35.4
39.0
30
39.3
377
40 8
35.3
39.1
30
39.6
382
40 3
35.8
38.9
26
39.9
382
39 7
35.3
38.6
25
39.6
373
39 1
35.2
38.5
26
39.7
385
38 8
35.1
38.7
28
39.8
373
39 2
35.1
38.8
27
39.7
375
39 7
35.1
39.0
28
39.6
395
39 9
35.3
39.0
29
39.8
389
40 0
35.0
39.3
30
39.8
372
40 3
35.6
39.7
31
40.3
397
40 5
36.0
Paper and allied products
Printing and publishing
Chemicals and allied products .
Petroleum and coal products
Rubber and plastics products, nee
Leather and leather products
do....
do....
do
do....
do....
do
42.6
37.5
41 9
43.8
40.5
365
42.3
37.1
41 5
41.7
40.0
367
42.6
37.2
418
397
39.9
369
42.5
372
41 5
41 1
40.1
373
41.7
37 1
413
425
39.3
367
41.4
368
41 1
423
39.2
367
41.4
369
40 8
422
39.0
36 1
41.8
37 1
41 0
422
40.2
365
42.2
369
413
427
40.1
362
42.2
37 1
41 4
43 1
40.4
365
42.6
368
41 7
432
40.8
362
43.0
374
41 7
432
40.9
366
43.1
377
41 8
434
41.3
37 1
do....
do....
do
do....
do....
do....
39.9
32.6
388
306
36.2
327
39.6
32.1
385
302
36.2
326
39.5
32.3
385
303
36.3
327
39.5
320
385
300
36.2
326
39.3
32 1
386
30 1
36.1
325
39.6
31 9
380
300
36.4
326
39.9
31 8
380
298
36.2
326
39.7
320
382
30 1
36.3
326
39.7
32 1
385
30 1
36.1
325
39.8
322
385
302
36.3
326
39.7
322
386
302
36.3
327
40.0
32 1
38 7
300
36.3
326
39.4
323
38 8
302
36.3
327
Employee-hours, wage & salary workers in nonagric. establish, for 1 week in the month,
seas adj. at annual rate
bil. hours..
Total private sector
do....
Mining
do....
Construction
do
Manufacturing
do....
Transportation and public utilities
do....
Wholesale and retail trade
do .
Finance insurance and real estate
do
Services
do....
Government
do....
169.04
138.43
2.15
892
43.94
10.69
3429
938
29.07
30.61
16987
138.24
232
867
42 17
10.63
3450
9 74
30.20
31 63
170.93
139.76
2.30
890
4360
10.77
3451
971
29.98
31.18
17049
138.36
228
852
4284
10.71
3439
9 65
29.98
32 13
16927
137.24
228
852
4180
10.63
3437
9 66
29.97
3203
16842
136.36
232
856
41 05
10.51
34 15
9 77
30.01
3205
16763
135.57
223
834
4059
10.54
3398
9 71
30.17
3206
16844
136.60
229
831
4098
10.50
3444
9 76
30.32
31 84
16907
137.64
234
862
41 31
10.56
3456
9 79
30.46
31 43
16978
138.26
231
857
4165
10.65
3474
9 83
30.44
3191
17022
139.13
240
866
4208
10.60
3483
9 89
30.67
31 09
171 23
139.49
250
8 70
4229
10.64
3466
9 92
30.76
31 74
125.6
109.4
155.0
128.1
1045
108.1
992
136.8
114.0
131 1
1334
130.1
145.7
1528
124.5
103.7
165.0
126.3
976
98.8
95 9
139.0
113.2
1309
1335
1299
150.8
1589
126.0
107.3
162.9
126.9
101 8
105.0
97 3
139.0
113.9
1318
1345
1307
149.6
1576
124.8
1052
161.7
124.7
998
101.6
97 2
138.3
113.5
130 4
134 1
1289
149.4
1576
123.4
1022
163.2
124.3
96 1
96.6
95 4
138.1
112.6
130 3
1337
1290
149.7
1574
122.5
1003
166.4
123.7
93 8
94.0
93 5
137.9
112.6
129 1
130 8
1285
151.2
1598
121.9
985
158.7
120.6
92 5
92.4
92 5
138.2
112.8
128 9
131 0
1280
151.1
159 1
123.0
1000
162.4
120.5
942
94.1
94 3
139.0
112.6
130 4
131 9
1298
151.8
1594
123.7
101 5
166.7
124.7
95 2
95.5
94 7
139.2
112.7
130 9
1333
1300
151.1
1593
124.5
1023
168.0
124.5
96 1
96.6
95 4
139.9
113.5
131 4
1336
1306
152.4
1600
125.2
1037
170.4
126.0
97 4
98.5
95 8
140.2
112.8
131 6
1340
1306
152.6
161 2
125.5
1044
175.6
126.8
98 0
98.9
96 7
140.2
113.8
130 9
134 5
1294
153.2
161 4
126.8
1064
175.4
135.3
98 9
99.8
97 6
140.9
111.9
132 3
135 0
1313
153.7
1624
126.1
1038
173.7
124.6
r
97 7
98.2
r
97 0
14L6
112.5
132 8
1349
132 1
154.3
1633
126.4
1048
172.7
128.6
98 2
r
99.3
r
96 5
141.5
112.0
132 7
1345
1320
154.0
1635
Average hourly earnings per worker: fl
Not seasonally adjusted:
Private nonagric. payrolls
, dollars..
Mining
do....
Construction
do
Manufacturing
do
Excluding overtime
do....
Durable goods
do....
Excluding overtime
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....
Electric and electronic equipment @ do....
Transportation equipment §
do....
Instruments and related products .... do....
Miscellaneous manufacturing
do....
6.16
8.50
927
669
6.43
7.13
6.83
608
5.06
6.85
8.97
6.84
7.32
6.32
8.54
6.17
5.03
666
9.18
9 93
727
7.02
776
7.50
656
5.48
7.51
977
7.43
8.04
6.96
9.35
6.80
5.45
6.51
8.95
9 68
706
6.81
754
7.26
635
5.37
7.27
9.45
7.24
7.76
6.78
9.04
6.63
5.34
653
9.10
9 69
709
6.85
756
7.31
6 28
5.39
7.34
953
7.27
7.81
6.79
9.04
6.63
5.37
657
9.08
9 77
7 13
6.91
7 60
7.38
6 40
5.42
7.45
961
7.32
7.91
6.78
9.06
6.72
5.40
661
9.16
9 81
720
6.98
7 69
7.46
6 56
5.49
7.53
965
7.42
7.97
6.87
9.24
6.80
5.42
664
9.08
9 91
7 29
7.07
7 77
7.55
6 72
5.52
7.60
982
7.42
8.05
6.96
9.34
6.86
5.46
668
9.18
10 05
730
7.05
7 78
7.53
6 76
5.54
7.64
984
7.48
8.07
7.02
9.35
6.86
5.46
680
9.32
10 19
743
7.16
7 93
7.66
6 80
5.58
7.69
997
7.62
8.28
7.14
9.56
6.92
5.51
686
9.37
10 25
749
7.23
8 02
7.74
6 76
5.59
7.74
1009
7.68
8.36
7.20
9.77
6.95
5.55
693
9.51
10 25
7 59
7.32
8 13
7.83
6 79
5.62
7.82
1028
7.75
8.44
7.29
9.89
7.02
5.60
694
9.58
10 35
7 gg
7.40
8 24
7.92
6 77
5.69
7.83
10 35
7.86
8.57
7.39
10.11
7.14
5.72
703
9.78
10 43
7 73
7.46
8 25
7.96
6 82
5.70
7.87
10 36
7.87
8.59
7.42
9.98
7.19
5.81
r
707
r
7 10
9.86
10 43
7 79
r
7.53
r
8 33
r
8.05
Nondurable goods
do....
Excluding overtime
do....
Food and kindred products
do....
Tobacco manufactures
do....
Textile mill products
do
Apparel and other textile products .. do....
Paper and allied products
do....
Printing and publishing
do....
Chemicals and allied products
do....
Petroleum and coal products
do....
Rubber and plastics products, nee .... do....
Leather and leather products
do....
Transportation and public utilities
do....
Wholesale and retail trade
do....
Wholesale trade
do....
Retail trade
do....
Finance, insurance, and real estate
do....
Services
do....
6.00
578
6.27
665
466
4.23
7.13
6.95
7.60
9.36
5.96
4.22
8.17
5.06
6.39
4.53
5.27
5.36
6.53
631
6.86
769
5 07
4.57
785
7.54
8.29
10.09
6.49
4.57
8.88
5.48
6.97
4.88
5.78
5.85
6.30
6.08
6.68
757
492
4.49
755
7.34
8.05
9.29
6.27
4.51
8.62
5.40
6.83
4.81
5.68
5.75
6.36
6 15
6.75
779
491
4.46
763
7.34
8.12
9.83
6.30
4.52
8.71
5.40
6.87
4.80
5.68
5.75
6.42
622
6.82
764
4 90
4.45
765
7.44
8.17
10.07
6.34
4.53
8.72
5.42
6.89
4.82
5.70
5.79
6.48
628
6.84
797
4 93
4.51
7 79
7.46
8.24
10.22
6.39
4.54
8.75
5.43
6.95
4.83
5.77
5.81
6.60
638
6.89
806
5 06
4.50
797
7.53
8.35
10.25
6.48
4.54
8.90
5.48
6.99
4.88
5.77
5.79
6.62
639
6.90
774
5 19
4.60
799
7.63
8.39
10.22
6.57
4.59
8.95
5.48
7.01
4.89
5.82
5.81
6.69
6 44
6.93
742
5 24
4.70
806
7.73
8.46
10.33
6.63
4.61
9.04
5.56
7.08
4.95
5.87
5.93
6.72
648
6.95
756
5 26
4.73
809
7.75
8.52
10.39
6.70
4.64
9.20
5.59
7.10
4.98
5.91
6.00
6.80
655
7.09
7 74
5 30
4.75
8 18
7.79
8.59
10.52
6.79
4.68
9.28
5.64
7.20
5.02
6.01
6.10
6.86
6 61
7.13
8 00
5 33
4.81
828
7.88
8.68
10.37
6.89
4.73
9.31
5.61
7.24
4.99
6.00
6.12
6.94
6 69
7.21
8 42
5 34
4.89
8 27
7.92
8.73
11.06
6.96
4.85
9.35
5.80
7.33
5.18
6.10
6.22
Transportation and public utilities $
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate $
Services
P
40
P
40 6
r
41.0
r
40.2
r
41.1
r
39.3
30
P
39.1
r
28
39.6
r
372
39 9
r
35.7
P
29
P
40.1
P
378
P
39 9
P
r
42.7
r
370
r
41 5
r
428
r
40.6
r
P
42.7
P
372
P
41 3
P
43 1
P
40.8
P
r
39.4
r
P
39.3
P
322
P
38 6
P
302
P
36.1
P
r
39.9
r
394
r
40 1
r
35.8
r
42.8
r
372
41 8
r
435
r
40J
3" i
39.2
35.5
375
39.o
322
387
302
36.4
r
328
37 1
32 1
386
30 1
36.3
r
328
r
328
AGGREGATE EMPLOYEE-HOURS f
Seasonally Adjusted
Indexes of employee-hours (aggregate weekly): fj
Private nonagric. payrolls, total
1967=100..
Goods-producing
do....
Mining
do....
Construction
do....
Manufacturing
do
Durable goods
do....
Nondurable goods
do
Service-producing
do....
Transportation and public utilities
do....
Wholesale and retail trade
do
Wholesale trade
do
Retail trade
do....
Finance, insurance, and real estate
do....
Services
do....
17303 r!71 80 172 19
141.18 140.34
r
253
257
r
9 26 r 854
8 77
r
4270
4239
4238
10.64 10.64
10.60
r
3509
35 12
3500
9 96 r r9 99 10 02
r
30.95 r31.13 r31.18
31 46
31 85
31 76
P
170 48
P
139.87
P
2 16
pg 46
P
4234
P
10.59
P
3508
P
9 97
P
31.28
P
3061
126.0
P
103 7
P
149.3
P
122.4
P
98 8
P
100.1
P
96 9
P
141.5
P
111.6
P
132 3
P
135 0
P
131 3
P
153.8
P
164 4
HOURLY AND WEEKLY EARNINGS t
See footnotes at end of tables.
9.87
10 42
7 74
r
7.48
r
8 27
7.99
6 84
5.73
r
7.89
10 56
r
7.90
r
8.63
r
7.45
r
9.94
r
7.20
r
5.81
6.95
6 71
r
7.25
r
8 47
5 34
4.87
r
8 28
r
7.96
r
8.79
11.32
6.95
4.87
r
9.46
r
5.84
r
7.39
5.20
r
6.21
r
6.28
r
rg 81
5.76
r
7.92
10 55
r
7.98
8.66
•7.49
10.09
•7.24
r
5.84
r
6.98
6 74
7.30
rg 54
r
5 35
4.94
rg 29
8.02
r
8.81
11.20
r
6.98
r
4.89
r
9.42
5.85
r
7.43
5.20
r
6.18
r
6.29
P
7
P
11
9.71
10 44
P
7 86
P
7.61
P
8 39
P
8.13
P
6 86
P
5.81
P
8.03
P
10 68
P
8.03
P
8.71
P
7.53
P
10.14
P
7.28
P
5.89
P
P
7.04
P
6 81
P
7.37
pg 76
34
4.97
pg 37
P
8.02
P
8.90
P
11.28
P
7.07
P
4.90
P
9.52
P
5.86
P
7.44
P
5.22
P
6.12
P
6.29
P
5
P
S-14
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
May 1981
1980
1980
Apr.
Mar.
Annual
May
Aug.
July
June
1981
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS t— Cont.
Average hourly earnings per worker—Cont.
Seasonally adjusted:
Private nonagricultural payrolls
dollars..
Mining
do
Construction
do....
Manufacturing
do
Transportation and public utilities
do....
Wholesale and retail trade
do....
Finance, insurance, and real estate
do....
Services
do...
Indexes of avg. hourly earnings, seas, adj.: U
Private nonfarm economy:
Current dollars
1967—100..
1967 dollars t
do
Mining
do.. .
Construction
do....
Manufacturing .
do
Transportation and public utilities
do....
Wholesale and retail trade
do
Finance, insurance, and real estate
do....
Services
do
Hourly wages, not seasonally adjusted:
Construction wages, 20 cities (ENR): §
Common labor
$ per hr
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,
private nonfarm: H
Current dollars seasonally adjusted
1967 dollars seasonally adjusted J
Spendable earnings (worker with 3 dependents):
Current dollars seasonally adjusted
1967 dollars seasonally adjusted $
Current dollars, not seasonally adjusted:
Private nonfarm, total
dollarsMining
do....
Construction
do..
Manufacturing
do....
Durable goods
do
Nondurable goods
do....
Transportation and public utilities
do....
Wholesale and retail trade
do....
Wholesale trade
do....
Retail trade
do
Finance insurance, and real estate
do....
Services
do
r
7.06
r
6.16
850
927
669
8.17
5.06
5.27
5.36
6.66
9 18
9.93
727
8.88
5.48
5.78
585
6.51
895
9.75
706
8.62
5.37
5.68
5.72
6.54
9 10
9.79
7 11
8.71
5.38
5.68
5.72
6.57
908
9.83
7 15
8.72
5.42
5.70
5.78
6.62
9 16
9.89
722
8.75
5.45
5.77
5.86
6.67
908
9.94
730
8.90
5.50
5.77
5.87
6.71
9 18
10.04
736
8.95
5.53
5.82
5.91
6.77
932
10.05
742
9.04
5.56
5.87
5.93
6.83
9.37
10.14
749
9.20
5.59
5.91
5.99
6.91
951
10.21
758
9.26
5.66
6.01
6.08
6.95
958
10.32
763
9.31
5.67
6.00
6.10
7.02
978
10.40
769
9.35
5.73
6.10
6.16
987
10.45
773
r
9.46
r
5.79
r
6.21
r
6.21
7.10
r
986
10.50
779
r
9.42
5.82
r
6.18
r
6.26
229.8
1059
263.9
222.0
2347
249.3
2238
209.6
2278
2513
1017
2876
236.3
2585
271.9
2426
229.5
2482
2452
1020
2809
232.2
2502
265.9
2378
225.7
2427
246.2
1014
283.7
233.0
2524
267.2
2380
224.9
2430
248.3
1014
284.2
234.2
2550
268.7
2398
226.3
2457
250.9
1015
286.3
235.3
2583
270.6
2418
230.2
2484
252.1
1020
285.3
236.7
2606
272.8
2435
229.0
2476
254.0
1020
288.9
239.0
2624
273.2
2453
232.7
2498
255.4
1015
290.4
239.3
264.5
274.0
2465
233.1
2517
257.9
101.4
294.4
241.6
266.6
280.2
247.7
234.8
2542
260.9
1015
298.7
243.0
268.9
283.4
2509
239.3
2585
261.9
1008
302.3
245.3
270.4
284.1
250.9
238.0
2594
264.4
1010
306.6
247.8
272.6
285.9
2546
240.2
2613
r
266.6
1009
r
309.2
r
248.1
r
274.6
r
289.6
r
2567
r
244.1
r
2639
268.5
1010
311.0
r
249.8
r
2767
r
291.1
r
2586
r
245.2
r
2657
1078
14.22
1173
18.42
1127
14.82
11 27
14.82
11 34
14.91
1159
15.20
1183
15.49
12.02
15.70
12.17
15.79
12.25
15.91
12.28
15.95
12.29
16.04
12.28
16.07
12.28
16.07
12.36
16.11
339
334
358
341
893
366
3.59
382
367
992
957
361
3.56
377
3.60
955
951
952
354
3.49
374
3.62
10 11
1028
1031
385
3.73
392
3.83
1025
1049
1039
4 12
4.04
436
4.09
1051
1071
22953
10081
23490
95.10
23045
95.90
23086
95.20
23061
94.28
23170
93.88
23278
94.24
23552
94.62
23830
94.68
241.10
94.81
244.61
95.10
246.03
94.70
24921
95.19
r
19440
89.34
20625
83.51
20287
84.42
203.18
83.79
20299
82.99
203.82
82.59
204.64
82.85
206.72
83.05
208.83
82.97
210.95
82.95
213.62
83.06
214.69
82.64
215.81
82.43
r
249 22
r
94.33
r
215.82
r
81.69
r
250 63
r
94.33
216 88
r
81.63
r
246.74
r
422.44
r
1967=100..
219.30
365.50
34299
268.94
29090
235.80
325.98
164.96
247.93
13862
190.77
17527
235.10
396.58
36741
288.62
31195
254.67
351.65
175.91
268.35
147.38
209.24
19071
229.15
388.43
35042
280.99
30386
245.07
340.49
172.80
263.16
206 18
206.18
18688
228.55
389.48
355.62
279.35
30164
246.13
344.05
171.72
263.81
142.56
205.62
18630
229.95
387.72
360.51
280.21
301.72
248.45
342.70
172.90
265.27
144.12
205.77
18702
233.33
394.71
371.80
283.68
306.06
251.42
346.50
175.39
265.49
146.83
210.03
19057
234.39
380.45
373.61
282.85
303.81
254.10
355.11
178.10
267.02
149.82
208.87
19165
237.14
395.66
374.87
286.89
308.87
257.52
355.32
179.20
269.18
151.10
211.27
192.31
240.04
405.42
386.20
295.71
318.79
261.58
358.89
178.48
272.58
149.00
211.91
19273
242.16
407.60
388.48
298.10
323.21
262.75
366.16
179.44
274.77
149.40
214.53
195.60
244.63
413.69
377.20
305.12
330.89
267.24
368.42
180.48
277.92
150.60
218.16
198.86
247.06
422.48
383.99
313.75
341.96
273.03
372.40
181.76
281.64
152.20
217.80
199.51
158
129
145
122
112
115
118
117
122
127
134
130
128
129
126
40
2.9
4.0
20
35
2.1
4.0
15
1.7
35
2.3
3.7
16
1.3
31
2.1
4.6
15
2.3
34
2.1
4.8
15
2.5
39
2.4
4.4
14
2.2
38
2.1
4.2
14
2.0
45
2.5
4.8
22
1.7
43
2.6
4.1
19
1.4
3.6
2.2
3.7
1.4
1.5
2.7
1.6
3.0
1.1
1.3
2.2
1.2
3.1
0.9
1.6
3.4
1.8
3.6
12
1.6
30
1.8
3.1
1i
1.2
34
2.0
3.2
12
1.2
36
2.5
43
1.9
15
30
2.1
53
1.5
2.9
30
1.8
5.7
1.4
3.5
33
1.8
5.1
1.4
2.9
34
1.9
38
1.3
1.7
36
1.9
3.9
1.3
1.9
38
2.1
3.5
1.3
1.5
3.8
2.1
3.4
1.3
1.4
3.6
2.1
3.3
1.4
1.2
3.6
2.2
3.3
1.5
1.1
35
2.2
3.6
1.5
1.3
36
2.3
3.8
1.5
1.4
35
2.2
36
1.4
1.4
Unemployment insurance programs:
Insured unemployment, all programs, average
weekly # @
thous..
State programs (excl. extended duration prov.):
Initial claims
thous..
Insured unemployment avg weekly
do
Percent of covered employment: @ @
Unadjusted
Seasonally adjusted
Beneficiaries average weekly
thous
Benefits paid @
mil $
Federal employees, insured unemployment,
average weekly
thous..
Veterans' program (UCX):
Initial claims
. do..
Insured unemployment, avg. weekly
do..;
Beneficiaries average weekly
do
Benefits paid
mil. $..
Railroad program:
Applications
.
thous.
Insured unemployment, avg. weekly..
do...
Benefits naid
mil. $.
See footnotes at end of tables.
1.1
269.2
P
309.1
P
250.2
P
2792
P
292.7
P
2584
P
241.9
P
2656
P
12.45
P
16.13
P
251 34
P
21741
246.75
249.92
r
425.43
415.11
379.65 364.70 r388.00
308.43 r 305.73 r310.82
333.30 r329.97 r337.37 337 28
271.35 r269.66 r272.22 P
"273.15
368.39 373.67 r371.15 374.14
183.86 r
185.13 186.03 P187.52
r
282.21 283.04 286.06 P286.44
152.81 153.92 154.44 P156 08
221.43 r226.04 r224.33 P220.93
202.15 r204 73 r205 05 P205 05
LABOR TURNOVER
Manufacturing establishments:
Unadjusted for seasonal variation:
Accession rate, total
mo rate per 100 employees
New hires
do....
Separation rate total
do....
Quit
do
Layoff
do....
Seasonally adjusted:
Accession rate total
do
New hires
do....
Separation rate total
do
Quit
do....
Layoff
do . .
UNEMPLOYMENT INSURANCE
P
P
249.56
P
417.53
P
384 19
P
312.04
P
HELP- WANTED ADVERTISING
Seasonally adjusted index
"7.12
P
971
10.55
P
788
P
9.52
P
5.84
P
6.12
P
6.26
P
2,592
3,808
3,652
3,627
3,680
3,790
4,140
3,911
3,961
3,660
3,726
4,085
4,621
4,264
20,160
2433
25,412
3350
1,705
3356
2,192
3278
2,248
3343
2,319
3455
2,737
3692
1,828
3408
1,702
3087
1,808
2,903
1,673
2,983
2,544
3,321
2,653
3844
3669
30
29
2844
14 584 9
39
4.3
2796
1,196.8
40
4.7
2962
1,213.6
4.3
4.5
3 130
1,397.5
39
4.4
3026
1,244.4
3.6
4.4
2656
1,144.9
3.3
4.1
2488
1,125.4
3.4
3.8
2381
1,055.1
3.8
3.5
2738
1,243.0
44
3.4
3234
1,416.5
42
3.2
2033
86129
38
39
3.7
3.4
2884
3 136
1 218.2 1,232.2
28
29
30
25
22
20
26
25
29
32
35
37
41
40
282
52
52
287.5
267
55
56
294.8
21
63
59
24.9
21
52
56
24.5
20
50
50
22.0
23
45
29
11.8
27
58
72
33.3
23
55
58
24.6
25
56
56
24.8
23
56
55
25.9
17
54
54
21.0
21
55
58
27.0
19
57
59
26.6
54
107
18
82.5
162
34
176.1
5
29
13.9
4
28
13.0
6
25
10.0
24
25
10.1
44
35
13.3
13
37
17.3
10
40
18.8
9
35
17.8
7
36
14.3
11
41
18.0
13
51
23.3
5
48
22.0
S-15
SURVEY OF CURRENT BUSINESS
May 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
1981
1980
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
WORK STOPPAGES
Industrial disputes:
Number of stoppages:
Beginning in month or year
Workers involved in stoppages:
Beginning in month or year
Davs idle during month or vear
4800
4500
1 700
33.000
1 500
32.000
number
thous
do....
396
425
505
435
491
409
438
360
284
66
253
347
314
123
2.705
116
2.786
139
2.464
164
2.553
270
4.030
64
3.363
163
3.169
94
2.638
54
1.244
18
617
50
614
90
647
271
1.419
FINANCE
BANKING
Open 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....
Nonfinancial companies
do
45,321
111 094
82279
17663
64,616
28815
Agricultural loans and discounts outstanding of
agencies supervised by the Farm Credit Adm.:
Total end of period
mil $
Farm mortgage loans:
Federal land banks
do....
Loans to cooperatives
do
Other loans and discounts
do
Federal Reserve banks, condition, end of period:
Assets total #
mil $
54,744 49317 50,177 52636 54356 54334 54486 55774 56,610 55,226 54,744 54,465 58,084
123 063 119036 122 473 121 707 124 170 121 365 120 299 120 932 123 095 126 048 123 063 130 168 132 077 132 294
87708 82581 85 177 83478 81787 81533 82' 191 82408 85707 87832 87708 r90 513 90,675 91858
19945 18390 18973 18451 18257 17667 18 445 18654 19443 20 169 19945 20908 21646 22828
67,763 64,191 66,204 65,027 63,530 63,866 63,746 63,754 66,264 67,663 67,763 r69,605 69,029 69,030
35355 36455 37296 38229 42383 39832 38 108 38524 37388 38216 35355 39655 41402 40436
58496
68648
62658
63969
64362
64 632
65 654
66 239
66 975
67966
68324
68648
70 105
70886
72 123
31,284
8091
19 122
38 138
9506
21005
33315
9 196
20 147
34,202
9046
20722
34996
8264
21 102
35579
7584
21469
36 107
8033
21514
36470
8388
21381
36843
8902
21 230
37,260
9988
20718
37612
10261
20451
38,138
9506
21005
38,740
10324
21042
39,375
10056
21455
40,264
9802
22057
162 947
171 495 158 198 165 649 164 467 165 627 160 556 162 860 167 788 164 067 169 041 171 495 161 467 161 824 167 040 168 067
135,092
1454
117,458
11 112
137,644 131,303 135,544 136,950 138,182 132,648 134,462 134,437 135,029 139,576 137,644 129,492 129,152 131,037 132,896
1 567 2284
1 809 1304
1249
1809
2502
2333
982
656
4770
602
215
1515
562
121,328 116 657 118,825 124 277 124 515 119563 119848 120711 121,482 120 812 121,328 117,169 117,621 118 043 119,687
11 161 11 172 11 172 11 172 11 172 11 172 11 172 11 168 11 163 11 162 11 161 11 159 11 156 11 154 11 154
do
162 947
171 495 158 198 165 649 164 467 165 627 160 556 162 860 167 788 164 067 169 041 171 495 161 467 161 824 167 040 168 067
do
do....
do....
35708
29,520
113,355
31 546 35385 39044 38445 38834 32 810 33 141 33 071 33088 34809 31546 30747 29777 29 983 31 310
27,456 31,870 32,927 31,804 33,187 27,548 29,338 28,146 30,518 31,528 27,456 26,621 26,734 26,164 26,063
124,241 110,597 111,524 113,118 114,502 115,654 116,925 117,144 118,248 121,191 124,241 118,147 118,854 120,874 121,852
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total
mil. $..
Required
do
Excess.
...
...
do
Borrowings from Federal Reserve banks
do....
Free reserves
do
'43,972
'43 578
'394
1
1,473
1
-997
'40 097 43352
J
40 067 42907
''30
445
2,828
'1,617
1
1 471 2231
Reserve bank credit outstanding, total # .. do....
Time loans
do
U.S. Government securities
do....
Gold certificate account
do
Liabilities total #
Deposits total
Member-bank reserve balances
Federal Reserve notes in circulation
Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:
Deposits: $
Demand adjusted §
mil. $..
44877
44683
194
2,455
2 106
43968
43785
183
1,028
782
43479
43268
211
380
157
42859
42575
284
395
104
40373
40071
302
659
347
41 164 41815
40 908 41 498
317
256
1,335
1,311
951
1 029
41678 40097 41514
40723 40067 41025
955
30
489
2,156
1,617
1,405
1 102 1 471
796
39650
39448
202
1,278
928
39752
39372
380
1,004
427
40097
40071
26
1,343
1 156
97,595
122,610
119,584 110 963 105,047 100 692 110723 107 393 108 966 112467 108,156 111 706 119 584 100 185
Demand, total #
Individuals, partnerships, and corp
State and local governments
U S Government
Domestic commercial banks
do....
do....
do....
do
do....
219,155
155,734
5942
863
35,975
Time, total #
Individuals, partnerships, and corp.:
Savings
Other time
do....
267,415
228,967 202 048 r201,536 194 911 208,631 187 725 204 290 208 621 191,810 207 817 228,967 185 566 183,252 206,616 188,663
158,722 139,869 134,656 132,409 141,960 131,371 142,783 145,288 135,213 143,831 158,722 127,940 123,777 139,810 128,835
4714
4938
4777 r 5992
4456
5933
4846
5933
4887
5 135
4658
4804
4581
5008
4962
787
1 579 1 005 2881
1 015 1 031
2964
1 088 1676
1 811 1 061
1 088
974 r 2426
817
41,710 34,766 r37,608 35,489 39,637 30,413 36,559 37,552 34,457 36,804 41,710 34,044 35,230 38,664 32,839
313,750 277,048 r278,871 278,736 276,789 273,708 281,420 285,113 289,376 300,970 313,750 320,947 320,996 321,801 322,992
do....
do
74,604
159 958
Loans (adjusted) total §£
Commercial and industrial
For purchasing or carrying securities
To nonbank financial institutions
Real estate loans
.
Other loans
do
do .
do....
do....
do
do....
402 310
159 321
10,275
26,559
99959
137,906
72,313 71,506 r68,752 69,686 73,377 74,574 75,905
205 805 172 329 176 497 175 623 172 887 168 630 174 167
433 583 407 165 r400 570 392 482 396 202 392 491 403 128
174 751 162 928 161*249 157 567 159 557 158 038 161 390
9,186
8,738
9,979
6,924
7,653
7,865
6,465
25,988 27,513 r25,035 23,498 22,961 23,133 23,462
111665 103 809 104 766 104 914 105 217 105 925 106 894
135,983 127,330 124,985 124,174 127,158 120,007 128,526
Investments, total $
U.S. Government securities, total
Investment account *
Other securities
do....
do....
do
do....
108,114
36,089
31 214
72,025
118,036 106,944 110,095 110,923 112,548 113,702 115,851 114,866 114,236 116,520 118,036 117,337 118,190 120,108 117,234
39539 34812 r35,429 35568 36958 38 141 40283 38706 37,674 39,409 39,539 39,777 40,816 41,754 39,720
35 242 29 525 r29 508 30 755 32 861 33 232 34 833 34 382 33 897 34 422 35 242 33 438 33 726 33 897 34 280
78497 72 132 r74'666 75355 75590 75561 75568 76 160 76562 77 111 78497 77560 77,374 78354 77,514
Commercial bank credit, seas, adj.: t
Total loans and securities 1J
U S Treasury securities
Other securities
Total loans and leases H
bil $.
do
do....
do
1 1346
938
1918
8489
1 2373
110 7
2139
9127
95658 106 246
76,664 76,042 74,946 72,313 74,382 75,072 79,344 77,897
177 063 181 124 193 269 205 805 210718 209 948 208 372 211 052
410 632
166 261
7,644
24,281
108 246
128,393
412 556
166 168
7,084
24,024
109 464
126,159
424 173
172 266
8,960
24,842
110728
133,629
1 1682 1 1653 1 1587 1 1560 1 1635 1 1809 1 1933 1 2065 12242
109 1
105 7
107 7
1105
938
98 1
955
102 0
95 0
209.9
212.1
2069
2075
196.8
200 1
201 7
196 1
204 1
8875
8683
9017
8632
8563
8780
8746
8575
877 1
433 583
174 751
9,979
25,988
111665
135,983
425 949
171 414
7,746
25,253
112866
131,059
423 216
169 482
8,182
24,875
113 681
131,875
430 070
172 782
10,151
24,598
114 468
134,392
1 2373 12535
1107
1136
213.9
216.3
9127
9236
12629
1153
217.2
9303
430 525
174 525
8,708
25,338
115337
129,376
1262 1
114 9
218.2
9290
Money and interest rates:
Discount rate (N. Y.F.R. Bank), end of year or
month
percent..
Federal intermediate credit bank loans
Home mortgage rates (conventional 1st
mortgages):
New home purchase (U.S. avg.)
Existing home purchase (U.S. avg.)
13.00
1294
11 40
1087
1000
10 17
11.00
11.47
12.87
1300
13.00
13.00
13.00
12.22
12.20
13.12
13.54
13.12
12.59
12.03
11.82
11.50
11.53
11.90
12.29
12.93
13.35
13.65
2
10.48
2
2
12.25
2
12.25
12.56
12.64
13.21
13.26
13.74
12.24
12.88
12.08
12.23
11.84
11.89
11.95
12.00
12.20
12.31
12.62
12.85
12.86
13.15
12.80
13.24
13.02
13.73
13.48
13.91
13.62
14.00
3
11.04
3
10.91
3
3
12.78
3
12.29
3
11.28
17.10
16.50
14.70
15.63
14.93
13.68
9.60
9.29
9.01
8.31
8.03
7.42
8.58
8.29
8.03
9.85
9.61
9.08
11.13
11.04
10.29
12.69
12.32
11.15
15.34
14.73
13.07
17.96
16.49
14.78
16.62
15.10
14.09
15.54
14.87
14.05
13.88
13.59
12.89
14.65
14.17
12.94
11.506
15.526
14.003
9.150
6.995
8.126
9.259
10.321
11.580
13.888
15.661
14.724
14.905
13.478
13.635
10.09
10.66
Open market rates, New York City:
Bankers' acceptances, 90 days
do....
Commercial paper, 6-month $$
do....
Finance co. paper placed directly, 6-mo @ do....
See footnotes at end of tables.
1300
2
12.00
percent..
do....
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent..
1287
2
do....
12.58
10.25
3
10.041
3
4
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1981
1980
1980
Mar.
Annual
May 1981
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
FINANCE—Continued
CONSUMER INSTALLMENT CREDIT t
Total extended and liquidated:
Unadjusted:
Extended
Liquidated
mil. $..
do....
Seasonally adjusted:
Extended total #
By major holder:
Commercial banks
Finance companies. .
Credit unions
Retailers
..
22988
24,378
24,984
25,530
27,391
25,481
26,907
25,744
28,136
27,840
24,918
24,088
31,052
25,669
23,145
26,027
23,672
25,037
29,519
27,940
25881
23220
22,093
22349
23,997
26,176
27,064
27,365
25,991
27,149
27,059
28706
29822
11395
5574
2428
4 108
10227
4801
1862
3845
9892 10098
4439
4,809
1 318 2305
4,148
4 186
11 107
5,155
3085
4,263
11 671
5,355
2752
4,596
11 977
5,323
2872
4,291
11 432
4,852
2795
4,250
11 484
5,185
3035
4,497
10397
5,904
2994
4,673
11648
6,193
3 167
4500
12676
5,911
3 153
4,685
do
do....
do
. .
By major credit type:
Automobile
Revolving
Mobile home
22,775
24,818
do
do....
do
do....
.
23583
24,878
do....
..
24,902
25,925
7372
10634
435
5922
10347
397
5533
10,302
299
5550
10341
424
6068
10,679
377
7400
10,700
415
7518
11,143
442
7544
11,124
513
7 117
10,953
424
7234
11,614
479
7237
11,483
383
8333
11,867
409
8700
12,071
641
324,777
286,396
305 887
304,477
9785
4,320
1 575
4,072
Liquidated total #
By major holder:
Commercial banks
Finance companies
Credit unions
Retailers
do
25227
24891
24770
24394
25 196
25687
26009
26663
25 152
25530
26 190
26710
26714
do....
do
. do
do
11,658
4436
2,703
4201
11,948
3973
2,597
4 124
11,721
4074
2,561
4 118
11,675
3695
2616
4 118
11,847
4370
2,575
4059
11,789
4768
2,620
4 103
11,936
4742
2,716
4 140
12,313
4869
2,809
4 157
11,552
4258
2,577
4 198
11,760
4,325
2,657
4 181
11,754
4791
2,706
4264
12,192
4663
2723
4397
12,064
4372
2,866
4432
By major credit type:
Automobile
Revolving
Mobile home
do
do....
do
6859
10,373
380
6565
10,677
383
6,574
10,589
349
6576
10,436
366
6,785
10,641
363
7,045
10,419
382
7,434
10,665
399
7,343
10,851
372
6872
10,688
400
6,932
10,998
413
7,300
10,926
407
7354
11,426
456
7018
11,484
553
do....
By major credit type:
Automobile
Revolving
Mobile home
313,435 309,127 307,831 305,788 304,399 303,853 305,763 306,926 307,222 308,051 313,435 310,554 309,188 310,766
154,177
68318
46,517
28 119
145,765 152,347 150,937 149,238 147,883 146,555 146,548 146,362 145,895 145,147 145,765 143,749 142,030 141,897
76756 70421 71545 72 101 73 118 73909 74433 74823 74985 75690 76756 77 131 78090 79490
44,041 45,730 44,954 44,139 42,995 42,644 43,347 43,562 43,518 43,606 44,041 43,601 43,776 44,212
29410 25495 25073 24970 24786 24620 24918 25301 25703 26469 29410 28300 27329 26965
do....
do
do....
.
312,024
do....
do
do....
do
Total outstanding, end of year or month #
By major holder:
Commercial banks
Finance companies
.
Credit unions
Retailers
116,362
56937
16838
116,327 117,642 117,502 117,058 116,456 116,125 116,868 116,781 116,657 116,517 116,327 115,262 115677 117517
59862 54269 53690 53225 53042 53036 53771 54406 54598 55304 59862 58985 57566 56831
17327 16944 16974 16912 16988 17004 17068 17 113 17276 17293 17327 17244 17 189 17273
FEDERAL GOVERNMENT FINANCE
Budget receipts and outlays:
Receipts (net)
Outlays (net)
Budget surplus or deficit ( — )
Budget financing, total
Borrowing from the public
Reduction in cash balances
mil. $.. '465,955
'493 607
do
do.... '-27,652
....
Gross amount of debt outstanding
Held by the public
do....
do
do....
'27,652
'33 641
'-5,989
do.... '833,751
do
'644 589
Budget receipts by source and outlays by agency:
Receipts (net), total
mil. $.. '465,955
'217841
Individual income taxes (net)
do
Corporation income taxes (net)
do.... '65,677
Social insurance taxes and contributions
(net)
..
mil. $.. '141591
Other
do
'40 847
Outlays total #
Agriculture Department...
Defense Department military
Health and Human Services
Department §
National Aeronautics and Space Adm
Veterans Administration
'520,050 33,351
'579011 46566
'-58,961 -13,215
'58 961
'70515
'-11 554
'914317
'715 105
61,097 36,071
51 237 50 198
9,860 -14,127
13,215 -9,860
4632
11802
1413 -14 492
59,055 37,348
46702 52409
12,353 -15,062
14,127 -12 353
5350 -4615
8,777 -7738
15,062
9737
5,325
44,259
50755
-6,496
53,544 38,923
47289 56304
6,255 -17,382
39,175
48049
-8,874
48,903
56202
-7,299
17,382
4758
12,624
8,874
9231
-357
7,299
13668
-6,369
6,496 -6,255
11 111
6260
-4,615 -12,515
52,214 38394
59099 53969
-6,884 -15,575
6,884
6772
112
15575
13916
1659
870,444 876,914 884,788 884,381 888,367 900,075 914,317 914,782 920,316 936,686 940,528 956,898
682 630 687 260 692611 687 997 697 734 708 844 715 105 719 862 729 094 742 761 749 533 763 449
38,394
15348
564
'520 050
'244 069
'64 600
33,351
9056
9508
61097
31488
9 171
36,071
9275
1,230
59,055
27791
15804
37,348
19773
2,136
44,259
19527
1,367
53,544
26936
8,884
38,923
21 150
1,284
39,175
20851
1,003
48,903
23725
9,387
52,214
30964
2,158
'160747
'50 634
11499
3287
15886
4552
20787
4780
10793
4667
10253
5 188
18546
4816
12860
4864
11 283
5205
13,242
4078
11,078
4714
14,363
4728
17211
5272
do
'493 607
do. .. '20,636
do
'115 013
'579011
'24 555
'132840
46566 51 237
1 732 1901
11460 11 357
50 198
2089
11 273
46702
2632
11582
52409
1 195
11 439
50755
1374
11 402
47289
1340
11 345
56305
1,785
12705
48049
1,829
11601
56202
3,415
12281
59099
5,212
12424
53969
2390
12544
mil. $.. '170,297
'64 988
'4,187
do....
do
'19887
'194691
'76 642
'4,850
'21 135
16,572
5 677
416
743
17667
7 584
398
2004
16,447
5 928
397
2792
15,368
9 900
452
630
17,455 17,992
6 815
5 164
423
456
1 713 2655
17,153
5 016
356
744
19,017
7286
479
2857
16,918
5625
425
717
19,132
10 944
499
3028
19,081
5222
381
1 921
18,700
6936
459
1953
bil. $..
do....
do
do
do....
432.28
29.72
208.75
11842
106.24
476.19
32.53
22697
131 14
118.30
439.73
30.36
211 40
12231
109.91
442.93
30.30
21235
12359
111.10
447.02
30.32
213.77
12456
111.96
450.86
30.13
215 14
12546
112.77
455.76
30.66
218.72
12646
113.78
459.36
30.86
220.45
12736
114.65
464.48
31.10
223.40
12809
115.36
468.06
31.34
225.73
128.98
116.21
473.53
31.72
228.63
12988
117.08
476.19
32.53
226.97
131.14
118.30
478.48
33.27
229.25
131 71
118.90
482.26
34.10
229.59
13244
119.50
do....
do....
do
do.
13.01
34.82
267
2489
15.25
41.46
279
2604
13.51
36.90
123
2402
13.70
38.17
084
2400
13.98
38.89
105
2445
14.08
39.35
161
2508
14.18
39.92
165
24.94
14.46
40.26
166
25.51
14.70
40.55
1 46
25.30
15.18
40.88
150
2573
15.25
41.46
279
26.04
15.24
42.03
145
25.53
133 r 42 063
30,459 r31,618
15,320 10,099
r
r
354
346
r
40 657
r
30,764
r
9,602
r
425 r42 802 r44 644 r45 055 r46 589 r43 212
31,217 r30,373 r29,348 r30,635 r34,215 r30,751
14,932 12,172 15,023 14,146 12,156 12,265
r
r
r
r
218
291
276
257
273
274
196
r
70 651
r
39,837
r
41221
27,468
13,596
157
LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U.S. life insurance cos
Government securities
Corporate securities
Mortgage loans total
Nonfarm
Real estate
Policy loans and premium notes
Cash
Other assets
....
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance):
Value estimated total
mil $ r492 812
Ordinary (incl. mass-marketed ord.)
do.... r329,571
Group
do.... 157,906
r
5.335
Industrial
do....
See footnotes at end of tables.
r
544 572
r
371,113
r
!70,184
r
3.275
r
46
r
r
46
r
14.16
39.65
1 79
24.31
30,641
173
16.03
42.60
1 24
26.26
42967
30,352
12,462
154
52345
36,537
15,589
219
Apr.
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
S-17
SURVEY OF CURRENT BUSINESS
May 1981
1979
1980
Annual
1981
1980
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FINANCE—CONTINUED
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, U.S. (end of period)
mil. $..
11,172
11,160 11,172 11,172 11,172 11,172 11,172 11,172 11,168 11,163 11,162
3
9
1
o
Net release from earmark §
do
294
204
22
30
38
18
20
Exports
thous. $.. 4 907 865 3 647 932 473 255 671 189 280 138 252 317 102 151 225 620 177 515 421 774 312 274
Imports
do.... 1,480,203 2,750,120 153,063 248,835 211651 95483 202 081 162,535 540,145 330 988 157,531
Production:
South Africa
mil $
760
747
955 1
916 1
756
747
806
768
773
78 1
768
2
Canada
do....
M59
57
6.0
5.5
605
56
55
58
56
57
Silver:
Exports
thous. $.. 471,162 1 909 733 253 438 489 037 81991 140 458 57527 65,526 29,012 33453 40,921
Imports
do
961 761 1 602 295 195 889 91538 63927 108 250 99031 85967 135 031 129 450 138 053
Price at New York
dol. per fine oz..
11.094
20.632 24.133 14.500 12.533 15.748 16.059 15.897 20.144 20.181 18.648
Production:
United States
.
. . thous. fine oz
27397
3034
33602
4 424
2379
2986
1311
1 607 3277
2577
2846
129.7
129.9
134.1
Currency in circulation (end of period)
bil. $..
125.6
137.2
122.9
124.0
125.7
127.1
128.3
131.1
Money stock measures and components (averages
of daily figures): t
Measures (not seasonally adjusted): $
Ml-A
bil. $..
382.6
391.1
360.0
366.1
370.0
369.7
375.5
377.3
388.0
376.4
361.5
Ml-B
do....
417.7
374.5
400.5
407.2
413.7
398.3
384.6
389.6
3805
390.2
397.5
M2
.
do
14690
1602 1 15514 15586 15608 15894 16180 16295 16423 16569 16657
M3
do.... 17043
18644 18107 1818 1 1821 7 18456 18708 18866 1 902.3 1 923.1 1 942.1
L (M3 plus other liquid assets)
do
20576
22599 22045 22213 2224 1 22410 22596 22786 22962 23180 23447
Components (not seasonally adjusted):
113.7
Currency
do....
1079
1087
1127
1137
1149
116.6
1023
1118
1099
111 2
264.7
268.9
274.5
Demand deposits
do....
257.6
258.2
261.3
262.7
263.6
273.1
251.5
258.6
246
257
266
Other checkable deposits $$
do
220
232
146
21 8
184
195
190
204
33.0
32.6
Overnight RP's and Eurodollars *
do....
27.1
28.5
26.3
22.1
24.6
29.1
31.6
32.5
23.3
807
78.2
774
770
269
698
609
604
806
Money market mutual funds
do
668
742
408.8
412.4
405.8
446.2
3985
393.6
381.8
3869
401.0
412.9
Savings deposits
do....
3769
7149
7359
Small time deposits @
do
5970
710 1
6890
7079
7129
711 1
7237
7164
7166
226.5
240.0
Large time deposits @
do....
2046
2303
2304
231 9
221.7
223.3
230.7
2304
2262
Measures (seasonally adjusted): $
Ml-A
do....
379.5 r382.8 r386.4 r388.2
372.9 r366.6 r367.0 r370.8 r373.8
r
Ml-B
do ..
3920 r3865 r3869 r3910 r 3954 r402.5 r407.0 r411.6 r414.7
M2
do....
1,556.7 1,551.2 1,566.2 1 587.6 1,613.1 1,632.7 1,644.3 1,653.6 1,667.1
1
M3
do
18137 r 1811 9 1 827 91 848 21 869 3r1 891 9 905 71 920 01 941.0
r
L (M3 plus other liquid assets)
do
2 204 7 2 212 3 r2 226 0 r2 241 8 r2 259 6 2 284 8 r2 300 6 r2 317 0 r2 346 7
Components (seasonally adjusted):
Currency
do
1089 109 1 110 4 111 2 1122
1135 1138 1149 1156
272.6
2660 r268.9 r2715
Demand deposits
do....
2640 r 2574 r 2567 r 2596 r261 7
r
Savings deposits
do....
396.3 rr382.3 rr378.1 r385.2 r396.6 r405.4 r408.9 r408.8 r406.8
r
Small time deposits @
. . . do
6842 r703 1 r714 1 r7156 r 7145 r7157 rr720.4 r 7265 r739.3
r
228.0 r231.0 r237.4
228.1
231.6
Large time deposits @
do....
232.8 r230.7 r225.1 r225.4
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade Comm.):
20961
Net profit after taxes all industries
mil $
98698
92230 24707
22379
2085
Food and kindred products
do
7340
8 108
1697
1 821
198
Textile mill products
do
1340
993
314
232
679
Paper and allied products
do
3723
3042
795
803
2,779
Chemicals and allied products
do....
3 160
2777
10896
11 225
5759
21 936
25 532
7 200
6 621
602
Stone clay and glass products
do
2373
1 812
237
480
396
Primary nonferrous metal
do
2691
2755
959
766
529
2 185
218
Primary iron and steel
do
2 363
841
Fabricated metal products (except ordnance,
4 431
877
machinery and transport equip )
mil $
3 966
1 167
936
2650
11 530
11 401
2563
2 886
Machinery (except electrical)
do
1 712
Elec machinery equip and supplies
do
7386
7265
1 830
l'728
Transportation equipment (except motor
751
3,189
3,115
785
815
vehicles, etc.)
mil. $..
1632
Motor vehicles and equipment
do
4382
3464
-217
1 341
3,887
14,117
All other manufacturing industries
do....
15,314
3,376
3,326
32 491
8 925
36 410
8 779
8 934
SECURITIES ISSUED
Securities and Exchange Commission:
4,015
6,053
Estimated gross proceeds, total
mil. $.. r57,447
80,348 r6,927
5,784 r9,269 10,806 r8,244 r5,559 r5,341
By type of security:
r
r
r
2 153
3065
Bonds and notes corporate
do
39 478
55323
3395
4 840 r7 140 r 8945 r 6866 r 4205 r 3217
1,717
2,084
1,516
8709
18881
2757
679
1 802
981 1 018 1,123
Common stock
do. .
3,627
360
131
406
484
256
3,525
525
223
202
382
Preferred stock
do....
By type of issuer:
r
r
r
r
r
r
r
5,340
3,925
77,831 r6,677
5,742 r9,144 10,308 r8,244
5,459
5,633
Corporate, total #
mil. $..
51,712
506
1 777 2 893 r2r499
3232 1r 856 1069
1 498
11 563
24 199
3 442
r
r
238
533
263
4 796
453
207
244
3 192
265
469
455
Extractive (mining)
do
r
1,085
1,444 1,487
1,154
892
15,888
1,631
13,722
891
1,478 1,822
Public utility
do....
r
r
r
r
r
r
378
463
139
334
353
3297
105
120
413
Transportation
do
3 129
286
r
787
626
598
858
276
7360
Communication
do
4694
235
651
1 196 r 295
r
r
r
712
764
1,137
1,172
15,608
788
3,411 1,416
Financial and real estate
do.... 11,676
1,473
2,218
State and municipal issues (Bond Buyer):
3,918
4,226
4,391
2,943
47 133
2365
6004
4725
Long-term
do
42261
4579
4773
2,375
2,379
2,197
2,621
1,775
Short-term
do....
20,897
26,485
1,796
2,098
4,405
1,975
SECURITY MARKETS
Stock Market Customer Financing
Margin credit at brokers, end of year
11 619
14721 11914 11 309 11 441 11 370 11 522 12,007 12,731 13,293 14,363
or month
mil $
Free credit balances at brokers:
1,850
1,665
1,695
1,950
2,120
1,105
2,105
1,365
1,345
1,290
Margin accounts
do....
1,270
5,680
4,905
4,925
5,500
5,590
4,060
6,070
5,000
4.790
4.790
Cash accounts
do....
4.750
See footnotes at end of tables.
11,160 11,159 11,156 11,154
3
1
9
72
287 932 343 344 383 071 310 606
131,231 200,324 160,263 90,584
714
4.7
730
752
743
74,637 56,582 45,602
122 312 132 996 127 500
16.393 14.752 13.024
41,195
85900
12.338
11.437
730
3607
137.2
2820
131.1
2,611
131.9
1524
133.9
394.7
377.3
358.3
368.3
358.2
420.6
421.8
409.4
415.1
432.9
1 674 7 1 684.7 1 685 1
1711.9 1 741.8
r
1,962.8 r 1,984.3 1,988.3 2,009.4 2,035.1
r
2 372 0 2 401 2 24144
118.5
276.2
27.1
32.1
75.8
390.9
7574
251.5
115.8
261.5
43.3
32.6
80.7
374.9
r
779 1
260.7
115.9
242.3
51.2
r
31.7
92.4
r
365.3
r
7895
r
265.3
116.8
241.4
r
56.8
32.9
105.6
r
365.0
r
7966
r
261.8
118.5
249.8
64.6
31.7
117.1
366.0
797.3
257.2
r
384.4
r
r
373.3 r366.6 rr365.0
365.1
429.5
416.0 r419.0
422.9
411.3
1,668.7 1,681.7 1,695.4 1,716.9 1,733.8
1 952.2 1,978.6 1,996.4 r2,011.8 2,028.3
r
2 365 3 r2 398 2 2421 2
1162
r
268.2
r
393.8
r
759.0
r
247.0
116.6
1173
r
256.7
r
377.7
r
777.9
r
r
249.3
r
370.5
r
785.1
r
6,746
5,408
3 196
1,831
369
5,396
2249
1,021
542
1,187
521
853
128
749
477
62
587
126
303
585
2,574
1,825
2,890
2,155
14,721
14,242
14,171
2,105
6,070
2,065
5,655
2,225
5,700
5,013
1,847
4,153
1 344
308
r
3,695
1,718
2,830
1,174
149
6,519
2278
259.2
119.0
246.1
366.7
792.0
258.4
4,402
3671
2,607
241
117.9
r
247.1
r
367.6
r
791.2
r
258.1
263.0
24 183
2505
249
765
2,509
5952
493
634
775
986
3302
1,995
764
274
3,528
9772
1,131
3,738
1,363
r
S-18
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1980
Mar.
Annual
May 1981
Apr.
May
June
July
1981
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FINANCE—Continued
SECURITY MARKETS—Continued
Bonds
Prices:
Standard & Poor's Corporation:
High grade corporate:
Composite §
dol per $100 bond
Domestic municipal (15 bonds)
do....
51 1
73.4
41.4
57.4
373
53.5
410
58.0
457
65.1
474
63.3
455
59.9
42.1
56.3
41.1
54.3
39.7
53.4
37.8
50.9
37.2
48.1
38.0
50.4
36.1
48.4
365
47.9
345
45.9
Sales:
New York Stock Exchange, exclusive of some
stopped sales face value total
mil. $.. 4 087.89
5 190 30
42252
40620
412.95
411.84
40089
367.58
373.04
414.73
427.57
709.63
353.06
324.18
398.95
430.18
Yields:
Domestic corporate (Moody's)
By rating:
Aaa
Aa
A
Baa
10 12
1275
1373
1321
12 11
11 64
1177
1233
1280
1307
1363
1404
1380
1422
1426
1466
do....
do
do....
do
9.63
994
10.20
1069
11.94
1250
12.89
1367
12.96
1351
13.97
1445
12.04
1306
13.55
14 19
10.99
1191
12.35
13 17
10.58
1139
11.89
1271
11.07
1143
11.95
1265
11.64
1209
12.44
13 15
12.02
1252
12.97
1370
12.31
1268
13.05
1423
12.97
1334
13.59
1464
13.21
1378
14.03
15 14
12.81
1352
13.83
1503
13.35
13.89
14.27
1537
13.33
1390
14.47
1534
13.88
1439
14.82
1556
do....
do
do....
9.85
1039
9.60
12.35
13 15
11.48
13.11
1433
1143
1293
1350
1163
12.04
12 17
11.54
11.41
1187
11.26
11.43
12 12
1128
11.84
1282
11.36
12.31
1329
11.56
12.60
1353
11.72
13.20
1407
12.02
13.60
1448
12.22
13.37
1422
12.42
13.60
1484
12.61
13.66
1486
1272
14.00
1532
1285
do
. do...
653
639
873
851
944
909
796
840
773
737
788
760
859
808
885
8.62
922
8.95
945
9.11
961
955
976
1009
991
965
1027
10.03
1021
10 12
1094
1055
do....
8.74
10.81
11.87
10.83
9.82
9.40
9.83
10.53
10.94
11.20
11.83
11.89
11.65
12.23
12.15
12.62
29346
844.40
10456
23783
32823
891.41
11043
30723
29182
803.56
10203
25976
285 15
786.33
10580
24440
299 10
828.19
10900
25735
31478
869.86
11281
27476
331 17
90979
11391
29978
34277
947.33
11038
31791
348 16
946.67
111 44
33391
35644
949.17
112 34
35732
373 14
971.08
11443
39329
36840
945.96
11423
39405
371 59
962.13
113 51
39464
36526
945.50
10886
39260
38105 39066
987 18 1 004 86
10842 10732
41742 43923
percent
By group:
Industrials
Public utilities
Railroads
Domestic municipal:
Bond Buyer (20 bonds)
Standard & Poor's Corp (15 bonds) .
U.S. Treasury bonds, taxable $
Stocks
Prices:
Dow-Jones averages (65 stocks)
Industrial (30 stocks)
Public utility (15 stocks)
Transportation (20 stocks)
Standard & Poor's Corporation: §
Combined index (500 Stocks)
Industrial, total (400 Stocks) #
Capital goods (111 Stocks)
Consumer goods (189 Stocks)
1941-43—10
do....
do....
do
10301
114.83
115.27
8382
11878
134.52
131.37
8688
10469
118.73
116.20
7550
10297
115.57
11020
7693
10769
120.80
113.46
8281
114 55
128.80
122.14
8576
119 83
135.23
129.26
8898
12350
140.18
136.55
9362
12651
143.73
142.10
9541
13022
148.36
145.07
9276
13565
155.08
153.68
9228
13348
152.19
149.78
9030
13297
151.06
14723
9461
12840
145.70
143.14
9445
133 19
151.03
14976
10084
134 43
152.29
15080
105 96
Utilities (40 Stocks)
Transportation (20 Stocks)
Railroads (10 Stocks)
do
1970=10..
1941-43=10..
5040
14.53
51.74
5054
18.52
75.57
4540
15.62
63.39
4837
14.68
59.46
5063
15.27
61.12
5248
16.27
65.44
5282
17.97
70.79
51 18
18.83
73.90
51 10
19.85
80.64
51 49
21.77
90.82
5208
24.65
106.28
5166
24.55
106.74
5201
24.25
102.31
4981
23.64
97.69
5036
25.02
101.32
5096
25.88
103.25
Financial (40 Stocks)
1970—10
NewYorkCity banks(6 Stocks) 1941-43=10..
Banks outside N.Y.C. (10 Stocks)
do....
Property-Casualty Insurance (6 Stocks) do....
1233
44.48
104.86
119.06
1250
44.00
102.90
127.06
1073
38.46
87.69
110.23
11 56
41.09
97.54
120.70
1220
44.54
103.52
121.37
1287
46.30
106.05
127.07
1305
46.06
107.86
130.35
1304
45.81
105.24
133.87
1338
45.86
107.15
140.97
1304
43.27
103.65
134.80
1268
43.19
103.58
128.25
1289
46.63
109.74
126.00
1357
48.70
117.50
129.13
13 41
48.18
116.43
126.73
14 30
49.83
119.52
136.70
14 44
49.65
119.30
142.81
New York Stock Exchange common stock indexes:
Composite
12/31/65=50..
Industrial
do
Transportation
do.
Utility
do....
Finance
.
do
58.32
6475
4734
38.20
6142
68.10
7870
6061
37.35
6425
59.52
6871
5177
33.38
5471
58.47
6631
4862
35.29
5732
61.38
6939
5107
37.31
6147
65.43
7447
5404
38.53
65 16
68.56
7867
59 14
38.77
6676
70.87
82 15
6248
38.18
6722
73.12
8492
6589
38.77
6933
75.17
8800
7076
38.44
6829
78.15
9232
7723
38.35
6721
76.69
9037
7574
37.84
6746
76.24
8923
7443
3853
7004
73.52
8574
7276
37.59
6848
76.46
89 39
7709
3782
72 82
77.60
90 57
8063
3834
74 59
percent..
do
do....
do
do....
5.45
5 18
9.19
468
5.47
5.26
494
9.77
4 04
5.75
5.87
552
10.65
474
6.57
605
576
10 10
501
6.14
5.77
549
9.67
463
5.84
5.39
5 10
9.43
4 43
5.57
520
490
946
402
551
5.06
475
9.71
384
5.54
4.90
459
9.67
360
5.38
4.80
447
9.77
332
5.58
4.63
431
965
287
5.74
4.74
4 42
979
299
5.71
4.80
449
978
308
552
5.00
468
10.33
322
5.62
488
457
1023
3 06
538
do....
9.11
10.60
11.37
11 16
10.20
9.78
981
1004
10 14
1064
1135
1194
1155
11 83
1181
11 81
mil $
millions..
299 973
10,863
475 934
15500
35704 26248
1 147
963
28029
960
33490
1 141
38611
1258
43795
1,433
41216
1,336
50 641
1501
43 157 49 347
1 280 1515
42 443 33 153
1 286 1039
mil $
millions..
251 098
8,675
397 670
12,390
29 164
904
22 320
788
23402
780
27996
934
31 949
1,004
35606
1,122
35308
1,090
42 873
1,216
36 015
1,016
35 453
1,020
27 987
834
8 156
11352
876
674
765
830
1022
966
1058
1032
989
956
816
1 175
1 123
960.61
30033
1,242.80
33709
898.82
30 558
941.84
30752
Yields (Standard & Poor's Corp.):
Composite (500 stocks)
Industrials (400 stocks)
Utilities (40 stocks)
Transportation (20 stocks)
.
Financial (40 stocks)
.
Preferred stocks, 10 high-grade
Sales:
Total on all registered exchanges (SEC):
Market value
Shares sold
On New York Stock Exchange:
Market value
Shares sold (cleared or settled)
New York Stock Exchange:
Exclusive of odd-lot and stopped stock
(sales effected)
sales
millions
Shares listed, N. Y. Stock Exchange, end of period:
Market value, all listed shares
bil. $..
Number of shares listed
millions
41 373
1,205
1 025
993.90 1,027.13 1,101.19 1,115.48 1,147.60 1,168.11 1,289.71 1,242.80 1,189.19 1,203.16 1,248.95 1,229.56
31 233 31 893 32 327 32 602 32 804 33 041 33 427 33 709 33 993 34 211 34 670 34 967
FOREIGN TRADE OF THE UNITED STATES
VALUE OF EXPORTS
Exports (mdse.), incl. reexports, total @
Excl. Dept. of Defense shipments
Seasonally adjusted @ @
By geographic regions:
Africa
Asia
Australia and Oceania
Europe
Northern North America
Southern North America
South America
See footnotes at end of tables.
1
17,964.0 18,845.4 22,928.5
do.... 181,650.8 220,548.7 19,671.4 19,1343 18,764.4 18 674.8 17 177 7 17,938.4 17,800.9 19 936 9 18,609 9 19 537 5 479622 18 838 0 22 917 7
do
18 534 4 18 468 4 17 677 7 186418 18 075 0 19 103 4 18 701 0 19 088 5 18 634 3 191177 488248 19 764 1 21 434 2
mil. $.. 181,815.6 220,704.9 19,685.0 19,146.6 18,770.0 18,674.8 17,213.7 17,946.1 17,829.0 19,948.9 18,614.0 19,545.1
do....
6 298.8
do
48 771 3
do.... 43188
do
60 025 9
9 060.4
60 168 3
4 875.7
713714
7679
7379
8098
5 1475 49174 48707
3974
3719
377 1
70599 67539 62839
do
do
do....
35 399 0
21 337 7
17.376.8
33930 3 149 7 30740 30700 2 499 0 26482 3 040 7 3 078 2
1 604 4 17135 1 8066 1 7664 1 864 4 1 7907 1 796 1 2 1236
1.332.4 1.319.5 1.490.1 1.485.0 1.453.2 1.557.8 1.578.4 1.646.5
33 096 7
14 886 5
13.571.7
731 4
52248
4243
58629
7557
49256
3914
5 240 4
7656
52736
4316
53032
7987
8959
8800
7463
'8035
4 956 2 5 467 7 5 078 6 5 538 0 15J 010 9
4168
3936
3889
4259
5894
5 107 6 5 9656 5 589 1 59490 15 686 6
3 113 2 3 000 5
1 9105 2 121 5
1.529.2 1.714.6
1
2
1
1
1
7294
4 897 4
'4138
6 069 1
737 0 3 239 5
815 1 1 832 7
1.480.3 1.649.9
SURVEY OF CURRENT BUSINESS
May 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
S-19
1981
1980
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF EXPORTS— Continued
Exports (mdse.), incl. reexports—Continued
By leading countries:
Africa:
Egypt
...
Republic of South Africa
mil $
do....
Asia; Australia and Oceania:
Australia including New Guinea
India
Pakistan
Malaysia
Indonesia
Philippines
Japan
do
do....
.. do
do....
do....
do
do. .
332.6
'3707
3546
3365
3572
5264
3296
3566
3202
130.6
447.7
122.1
1890
124.0
1452
1182
1322
1542
334
'41 9
626
638
549
410
714
848
457
116.1
415.2
128.9
110.7
86.4
117.5
113.1
146.8
137.3
88.6
410.7
115.7
981.5
1 545 1
759
96.6
3029
168.5
1399
1222
1280
972
2437
1487
4403
1 570 1 1999 1
1870
1323
2295
152 1
144 9
1572
1643
1485
17,581 0 20 790 0 1 8098 1 843 1 1 599 1 1 7877 1 718.2 1 751 5 1 6822 1 800 1 1 793.0 1,828.9 4 741.8
3559
108.1
289
94.6
86.7
1244
1,746.0
6307
See footnotes at end of tables.
1705
1996
1278
1990
1578
2170
1322
2397
1639
184.6
145 1
241 4
1529
352.5
134.8
218.3
3128
1938
954
104.7
3145
1184
380
98.9
55870
74854
7842
639 1
6233
586 1
631 2
5370
5462
678 1
5840
5726
'6175
3560
4786
68 1
640
368
292
210
54
250
186
336
687
'495
50 1
84778
10 959 8
1 055 2 10226
9047
964 1
8692
8070
8152
8718
8283
'8397
8636
4,361.8
36073
10,634.9
5,511.1
15128
12,693 6
518.0
1843
13034
540.4
1105
13485
4668
457
12860
5377
510
10492
407.5
434
870.7
444.3
354
907.0
353.3
499
927.3
378.8
151 2
1,139.6
8968
423.9
2647
935.4
556.3
2728
994.6
'418.2
'3439
'961.3
460.6
2584
1,121.8
35 395 3
33929
3 1497
30740
30699 24990
30329 3087 1
190.9
209.9
3683
3683
1366
104 4
153.7
146.4
1 2433 1 3394
385.7
4069
18 300 0 16 903.4
18 300 0 16 867 3
30175 30197
15 282 5 13,883.7
do....
do
do....
do.
do
do.
do,...
do
do
do
do....
Machinery and transport equipment,
total
mil. $
Machinery, total #
do .
Agricultural
do
Metalworking
do....
Construction excav and mining
do
Electrical
do
Transport equipment total
do
Motor vehicles and parts
do
Miscellaneous manufactured articles
do....
Commodities not classified
... . do
VALUE OF IMPORTS
General imports total
do
Seasonally adjusted @
do. ..
By geographic regions:
Africa
do
Asia
do
Australia and Oceania
do
Europe
do
Northern North America
do
Southern North America
do
South America
..
do
By leading countries:
Africa:
Egypt
Republic of South Africa ..
1992
178.8
4 1307
1,689.4
642 1
1,336.9
36 030 4 27396 2 814 1 30790
191.5
183.5
2,625.3
280.2
43435
361 2
3216
3827
1 3535
962
877
1045
1,735.6
119.0
141.1
153 1
15 144 6 1 104 9 12114 12730
4,572 8
342.4
369.8
3586
178,590 9 216 592 2 19 315 6 188149 18 395 3
178 426 0 216 436 0 19 302 0 18 802 6 18 389 6
34 755 4 41 255 9 36870 34685 32032
143,832.6 175,336.3 15 628.7 15 346.4 15 192 0
By commodity groups and principal
commodities:
Food and live animals #
mil. $.. 22,250.9 27,743.7
Meats and preparations (incl. poultry) .... do....
1,126.9
1,292.6
Grains and cereal preparations
do.... 14,453 8 18,079 0
Beverages and tobacco
do.... 2,336.5
2,663 0
Crude materials, inedible, exc. fuels #
do.... 20,756.0 23,790.7
Cotton raw excl linters and waste
do
2 1984
28642
Soybeans, exc. canned or prepared
do.... 5,708.0
5,882.9
45176
Metal ores concentrates and scrap
do
33245
Mineral fuels lubricants etc. #
mil $
56205
79823
Coal and related products
do.... 3,496.0
4,771.7
28334
Petroleum and products
.... do
19182
Oils and fats animal and vegetable
. . do
1 8450
19463
17 307 9 20 740 2
Chemicals
. .
do
Manufactured goods $
....
Textiles
Iron and steel
Nonferrous base metals
1878
162.2
do
33 095 8
do
26 258 9
do....
1,889.8
do
3 441 7
do
8855
do....
1,409.3
... do
98473
do.... 3,933.5
Italy
Union of Soviet Socialist Republics
United Kingdom
Exports of U.S. merchandise, total §
Excluding military grant-aid
Agricultural products, total
Nonagricultural products, total
1647
214.3
18736
2,463.5
36495
1,1670
529 1
932.1
Europe:
France
do
German Democratic Republic (formerly
E Germany)
mil $
Federal Republic of Germany (formerly
W Germany)
mil $
North and South America:
Canada
.
Latin American republics total #
Argentina
Brazil
Chile
Colombia
Mexico
.
Venezuela
4527
'214.4
14329
1,413.0
do
. . . . do
2648 1 30406
3078 1 3 1132 29977 '2 736 7 32395
32239 35805 '30710 3251 2
271.7
238.9 '276.7
200.4
361 4
4648
'3610
4533
1363
1444
4358
102 1
128.9
174.3
416.1
1346
14075 1581 1 ' 1 297 4 13299
409.9
'3477
397.6
4748
19 520 6 18 247 6 192172 '175980 18 522 0
19 508 6 18 243 5 19 209 6 1 17 596 2 18 514 6
36729 37964 42794 '4 067 2 38258
15,847.7 14,451.2 14,937.8 435309 14 696 2
3 1087 3 141 4 35106
211.5
259.0
259.8
414 5
3828
3598
1170
1223
1414
154.7
138.5
158.2
1
271 0 1 2622 15424
4102
4179
463 1
17 630 7 17 527 9
17 623 0 17 499 8
32436 32362
14 387.0 14 291.7
18826 2 1608
317 1
307 1
2378
2639
246.5
248 1
18847
295 9
2789
2549
19770
320 0
298 1
2809
2,689 4 2 652.9 2919.4 '2 752 0
125.2
130.6
118.6
419.3
1 7100 1 765.1 19290 48536
2494 , 262.7
2753 '2217
1,865.0 1,535.1 1,776.2 1,761.3 2,001.3 '2,044.0
1504
181 3 2252
1559
950
'2995
313.4
635.4
'614.0
434.1
4936
626.6
2263
2665 '2758
3896
298 1
325 1
7553
7853
7409 '6195
7029
7097
417.8
'302.6
480.9
430.0
5028
458.8
2797 '278 1
2046
2277
2694
238 1
1510
1605
1453
1310
4235
161 7
1 760 1 16657 17659 14880 1 7690 46814
1 7243 1 9469 1836 1 1 9355 1 7177 1 806.4 4 7052
314 1
3215
'2856
2726
302 0
3075
328 2
2653 '2405
250 1
273 1
2755
2944
2884
214.1
219.9
'234.5
241.2
341 7
289.9
2532
84 552 9
74445
70154
73496
73029
66987
55 789 7
3 1036
1,756.3
16277
10 484 5
48239
2945
121.9
1370
9084
26259
1 414 4
1,542.7
8337
46116 47837 49658
2833
274 1
2902
138.6
149.2
162.9
1384
150 5
166 5
8836
8967
9134
24072 25674 23370
1 267 3 1 214 7 1*235 0
16 234 2
3 1894
23420
1,609.4
22 254 6
36320
3 1228
2,963.9
70 407 3
44,744 5
26355
1,391.4
12338
86350
25 750 4
15 076 5
12,637.4
90303
28 838 8
14 589 6
16,343.1
84195
2212.3 2 134.8 1954 1 20719 2 203.5
113.5
103.0
109.0
104.8
115.8
1 4282 14233 1 1992 12898 1 442.6
335.3
224.7
175.1
2005
1963
2,375.4 2,255.2 2,186.1 2,032.7 1,723.1
3894
3134
2445
1904
3114
480.3
544.2
350.8
4894
3958
3509
5170
3962
4300
4482
5669
7070
6305
7365
730 1
299.6
404.2
415.6
452 1
462 1
2349
2048
2497
2683
250 1
1405
228 1
210 1
201 1
1349
1 8804 17506 1851 7 18615 17923
1,304.6
1 115 8
1,340.1
685 1
1,289.9
7029
23400 2501.0
103.4
96.2
1613 1 16577
2074
1798
67309
46466 47619
2825
237 1
160.5
155.1
1555
137 1
8650
891 6
20808 1972 1
992 5
975 8
1,246.1 1,295.7
4568
70187
46027
2426
158.0
1463
8290
24269
1 186 7
1,303.5
640 1
562 1
7,934 7
7 372.8 7531.1 '6 472 0
3004.1
27092
123.3
18309
7053
339.2
3235
1247
826.2
7,522.2
9,395.1
262.3
1983
1,843.5 2,325.9
2964
465.6
274 1
2965
206.8
1 6845 2,044.6
16648 2,024.6
2882
2289
168.2
5 1306 4 723.7 4791.2 '4 592.2 4,850.6
2648
2514
2363
2689 '2316
175.4
163.9
168.1
478.5
173.6
1225
1354
1303
4227
141 9
9973
869.3
8955
8707
'830 1
48805 26733
28125 2650 1 27425 1
1 445 9 1 312 0 12020 1 060 4 13345
1,400.6
8564
1,324.0
7479
1,311.5 4,253.9
703.8
'7230
1,311.1
7509
1,630.9
762.7
206 255 8 240 834 3 21 040 5 19 625 8 20 502 9 20 520 0 19 324 3 18 858 8 19 078 7 20 267 8 19 532 7 213120 '22 577 1 21 124 3 21 362.6
20 588 5 19 257.2 20 439 4 19 893 1 18 995.4 19 235.6 19 465.0 20,060.5 19,422.4 21,173.9 '23 194.3 21,921.7 20,949.3
24 381 6
66 739 3
30720
43 546 7
32 250 9
78 848 0
33919
47 849 7
38 069 1
17 268 0
13 172 3
41 470 9
22 656 9
14 361 6
3810
26162
4584
33205
28704 27534 3 1706 27994
64586 6 410 3 65468 7 131 1
2697
2349
2907
3038
43398 42485 4 155 2 38859
3 751 6 3 245 8 3 349 2 3 255 9
2 1263 17887 20673 20026
9985
12436
9999 1 1540
96 1
226 1
575
4057
338
2912
445
2085
2 373.7 27445 2 148.9 2,556 4 2,273.1 2,890.1 '3 033.3 3,044.5
66362 6 314 1 67215 65315 62205 68373 '8 008 2 6555 1
268.0
215.0
299.3
323.8
'361.6
255.0
281.6
352.3
4 Oil 3 37734 38086 39643 37305 4 0 7 4 2 '4 160 7 40334
3 124 4 2828 1 33417 39299 37477 38073 '3 623 4 3678 1
18202 1 819 4 16864 19139 18009 18459 4 761 7 20124
10766 1 1109 1 1562 1,072 1 1 407.5 1 533.2 4 627.4 1,545.6
38
270.2
416
2919
264
2038
295
2975
126
291.8
99
275.4
J
597
'234.0
515
181.5
Apr.
SURVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1981
1980
Mar.
Annual
May 1981
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
280.9
96.8
8.9
1926
346.8
1309
25918
255.1
72.9
13.0
2314
574.8
2079
27137
'306.3
Feb.
Mar.
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF IMPORTS— Continued
General imports—Continued
By leading countries—Continued
Asia; Australia and Oceania:
Australia, including New Guinea
India
Pakistan
Malaysia
Indonesia
Philippines
Japan
.
. . .
.
mil. $.. 2,236.1
10377
. do
120.0
do....
2 1456
do
do.... 3 620.6
14901
do
.. do
26 248 2
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
2,562.3
10976
127.6
25770
5,182.5
17303
30 701.3
195.4
156.4
98.6
115 1
10.2
12.1
2429
2309
417.0
422.0
1226
1432
23852 2,564.7
220.0
204.9
212.1
74.9
823
936
9.8
12.8
10.3
1876
2158
2146
440.8
435.2
440.3
1389
1497
146 1
2,656 6 26774 26134
172.1
200.1
221.5
77.9
103.3
788
10.4
10.3
9.5
1955
152.8
2348
255.7
429.7
415.6
1354
154 1
1505
2541.3 2 642.0 25689
187.8
1210
'995
14.4
13.9
2069
1986
499.5
'552.6
1805
197 1
1
3 196 1 23412
47678
52470
4694
4422
4890
441 8
4296
4282
3458
4578
378 1
4949
'4996
36.4
43.9
5.8
2.6
3.5
3.6
3.0
3.9
2.8
3.9
2.6
4.2
'4.9
2.9
10,955.4
49175
873.6
80277
11,681.2
4313.1
453.2
9755 1
1,143.0
401 1
35.4
8302
1,101.1
328.3
10.6
8276
1,117.5
3482
22.2
763 1
992.4
3608
35.1
7410
1,053.5
3828
32.9
7880
933.1
386.5
22.9
7343
844.8
2970
95.3
9968
861.8
2849
53.3
9070
876.3
3326
28.8
743 1
896.4
4144
55.9
8856
995.8
'391 7
'829
'8546
758.0
3967
324
869 1
do....
38,046.1
41,455.4
3,749.4
3,245.2
3,348.6
3,255.9
3,120.8
2,825.1
3,339.7
3,929 7
3,747.7
3,804.8
1
3 622 0
36764
Latin American republics, total #
do....
Argentina
do
Brazil
do...
Chile
do
Colombia
. .
. . . .d o
Mexico
do....
Venezuela
do
24,767.0
587 1
3 1182
4398
12094
8,800.1
5 1659
29,851.2 2,601.6
7408
548
3,714.6
2684
5150
527
1 240.5
1400
12,519.5 1,095.8
5297 1
4850
2,419 1 2,669.2
1053
635
433.3
304 1
469
402
922
86 1
1,106.6 1,031.4
4490
3723
2,824.2
862
333.6
309
1198
1,069.8
6964
1
By commodity groups and principal
commodities:
Agricultural products total
Nonagricultural products total
2,210.3 2,468.3 2,617.3 2,282.6
547
54 1
61 1
329
3173
323.2
266.3
3032
442
482
314
424
937
1157
1348
92 1
904.8
968.5 1,159.9 1,184.7
306 1
4227
3393
3117
2,141.0 2,261.8
710
582
293.3
300.0
507
343
69 1
888
1,045.8
915.0
4070
4205
do...
do
do
do....
do
15 169.5
5549
38197
2,539.3
9743
15,762.7
3952
3 872.3
2,346.3
19875
1 351.0 1,278.9
620
263
3119
354.4
154.4
200.8
156 1
1174
12938
455
3423
189.7
1238
13728
320
3730
164.0
1776
1 335.5 1 207.2 1 121.9 13048
408
233
200
192
3479
217 1
3023
2507
213.5
152.9
180.1
246.8
1950
1875
1722
1724
14413
210
2733
199.1
334 1
25650
2771.5
2129
224.7
2440
2233
253 1
2276
2613
2863
2436
do.... 10,652.7
do.... 3,249.1
15467
do
do.... 1
231.2
.. do
897 1
10,495.9
3,696.1
1 773.4
242.1
816 1
988.7
293.8
1844
22.9
101 1
867.1
351.2
1414
20.8
56 1
886.0
307.3
1657
26.9
81 1
913.7
369.1
1479
21.5
638
857.8
326.1
1303
19.5
576
812.4
275.0
1504
20.9
448
837.2
279.8
1362
11.0
756
830.6
302.4
1343
165
427
856.4
303.0
144 2
17.5
647
Mineral fuels, lubricants, etc
Petroleum and products
do.... 59,997.9
do.... 56,035.6
79,057.7
73,770.9
7,391.7
6,837.6
6,345.9
5,833.2
6,894.5
6,515.0
6,937.6
6,531.4
5,792.3 6,235.9
5,421.2 5,867.7
5,830.5
5,460.4
6,231.0
5,846.1
Oils and fats, animal and vegetable
Chemicals
..
do....
do
739.8
74786
533.4
85827
42.3
7862
48.8
7653
30.7
7684
41.2
7624
33.0
6413
64.6
7459
do...
do....
do
do....
.. do
30 064 1
7,466.5
2322 1
6,320.1
22163
32 190.4
7,363.6
26852
7,622.7
24933
29099 2618 1 27958
622.1
741.6
537.2
2176
2445
2450
804.7
585.3
583.2
2136
2194
2433
do....
do....
do
do
53,677.3
28,043.5
14424
65880
60,545.7
31,903.6
18137
8064 1
5,084.3
2 656.9
1367
679 8
do.... 25,633.9
do.... 22,074.8
28,642.0
24,133.9
2 447.3 2,468.4
2,097.1 2,031.9
2,481.0
2,024.6
2,366.8
1,993.6
2,384.6
2,008.1
Miscellaneous manufactured articles
do....
21,006.3
23,711.0
1,806.7
1,897.2
1,920.7
2,030.6
Commodities not classified
do....
4 904.6
7,183.3
4668
5525
5949
5240
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Unit value
1977-100..
Quantity
do...
Value
.
..
do
121.6
1245
1513
138.1
133.0
1836
133.4
1473
1965
134.1
1428
191 4
133.1
1407
1872
General imports:
Unit value
Quantity
Value
1287
1104
142 1
161 4
102.6
1655
1597
1089
1739
1593
1020
1626
.
.
..
do
Crude materials, inedible, exc. fuels #
Metal ores
Paper base stocks .
Textile fibers
Rubber
.
Manufactured goods #
Iron and steel
Newsprint
Nonferrous metals
Textiles
..
Machinery and transport equipment
Machinery, total #
Metal working ....
.
.
Electrical
Transport equipment
Automobiles and parts
do
do....
do
5,027.2
2,613.6
1742
6303
30.8
7050
2662 1 2 4 4 7 3
543.5
600.1
2365
2085
5959
559.5
1922
2208
5,074.1 5,052.3 5,166.7
2,683.2 2 685.5 2 782.0
1619
141 2
1485
686 1
7120
683 7
30.8
6169
2486 1 24129
629.2
520.0
2017
2160
508.2
567.4
1915
1947
1,385.9 14710
43 1
'294
310.8
'3325
226.0
'206.9
1690
'2258
2174
'2533
871.2
293.2
1508
19.5
592
'885.9
'3209
1679
'267
'405
5,879.6 7,218.4
5446 1 6,766.8
General imports:
Shipping weight
Value
See footnotes at end of tables.
13409
563
290 1
189.7
1777
1 3729
2360
2449
1,029.4
3115
1590
334
111 1
989.3
1
8,014.2
l
51.3
6503
69.0
718 1
7,943.4
l 388 5 73447
1
50.1
'735 8
60.0
7674
6,475.9
46.6
818 1
26297 2641 9
6174
5448
2249
2165
6017
6883
204 4
196 1
28547 '29105
737.1
'6586
2325
'2312
6566
'6236
2094
'2580
2795 1 28077
6775
2334
6509
2262
5,335.7 1
'5,615.7
28745 2 886 4
155 1 1866
1702 5
747 7
4,694.2
26114
144 0
606 2
1,987.6
1,663.9
5,333.3 5,236.2
27545 27338
1567
1503
729 6
668 1
2,330.8 2,578.8 2 502.5
2,000.3 2,210.6 2 191.4
2,461.3 '2 729.3
2,014.9 '2311 7
2,082.8
16894
2,182.5
2,143.2
2,077.3 2,104.2
2,017.2 '2,012.5
5534
5332
1358
1372
1863
138.1
1243
171 7
139.7
1285
1794
140.2
1270
178 1
160 2
106 1
170 1
163 2
1039
1696
163 8
T
974
1596
4,565.7
2,578.0
1837
647 1
4,952.2
2,621.5
1368
674 6
1,983.4
5,984.2
1,779.3
2,054.8
7374
5487
6244
'628 1
4786
568 1
1427
1392
198 6
1468
1265
185 7
147.7
1324
195 5
1495
1198
179 1
1490
1264
188 4
1484
1542
228 8
164 7
r
94 1
155 1
165 1 166 4
r
950 1001
1569 166 7
167 2
r
96 1
160 8
169 7
r
999
175 4
173 1
1073
185 8
174 3
997
173 8
176 1
998
175 8
911 1
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Shipping weight
Value
2 801 8 29335
942
1196
3824
'3902
396
'565
983
'972
'918.1 1 1672
'7177
6123
mil $
16 879 5 17 425 0 15362 14582 1 4785 14885 14398 13109 1 2193 14106 1 5299 15360 16130 1 7148 15063
do... 189 376 3 223,409.2 19 524 2 18 222.4 191145 19 031 5 17 884 5 17 548 0 17 859 3 18 857 2 18 002.8 19 776.0 121 007 0 194718
Food and live animals #
Cocoa beans
Coffee
Meats and preparations
Sugar
.. .
Beverages and tobacco
1
4558
thous. sh. tonsmil. $..
357,793
97,579
401,173
118,840
31,468
10,285
34,391
10 162
34,042
10071
35,716
10282
33,978
9619
36,373
10225
33,668
9662
36,364
10642
33,354
9723
35,590
10661
thous. sh. tons..
mil. $..
597,495
140,091
487,935
164,924
43,967
14,231
39,430
13,564
42630
14,532
43584
14,594
36,982
13,483
38 122
13,328
35812
12,753
38,068
13,185
35684
12,784
40858
14,374
Apr.
SURVEY OF CURRENT BUSINESS
May 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1980
Mar.
Annual
S-21
Apr.
May
June
July
1981
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)
Certificated route carriers:
Passenger-miles (revenue)
Passenger-load factor
Ton-miles (revenue), total
bil..
percent..
mil..
262.06
62.9
33388
mil. $..
do....
do.
do....
do....
do....
27,221
26,786
2211
363
27,018
403
bil..
mil
do....
209.13
3466
852
mil. $..
do....
do..
21,646
21,514
283
bil..
mil
do....
53.57
2497
373
mil. $..
do....
do ...
5,575
5,505
-48
Operating revenues (quarterly) # §
Passenger revenues
Cargo revenues
.
Mail revenues
Operating expenses (quarterly) §
Net income after taxes (quarterly) §
Domestic operations:
Passenger-miles (revenue)
Cargo ton-miles
Mail ton-miles
Operating revenues (quarterly) §
Operating expenses (quarterly) §
Net income after taxes (quarterly) §
.
International operations:
Passenger-miles (revenue)
Cargo ton-miles
Mail ton-miles
Operating revenues (quarterly) §
Operating expenses (quarterly) §
Net income after taxes (quarterly) §..
.
254.18
59.0
32487
2206
61.2
2833
20.52
58.5
2635
2327
63.0
2914
2058
57.4
2665
7,624
6,373
568
150
7,950
-276
200.09
3274
944
1801
286
79
4.05
229
33
2639
66.3
3236
16.48
268
78
1606
284
78
18 19
273
71
1864
281
75
2025
282
75
6559
6612
22
4.04
205
32
4.52
212
33
5.08
210
32
1449
1 561
99
19.61
55.9
2540
2069
57.7
2629
1786
55.2
2379
2022
57.8
2590
1580
293
81
1424
265
76
1634
248
108
4.25
216
33
3.62
215
37
3.88
170
43
748
663
681
8,926
7,555
590
143
8,657
203
8,152
6844
591
153
8,289
116
6 176
6,389
176
54.09
2458
392
2449
62.9
3050
1484
273
73
1
13.85
1
1231
'14.39
647
644
726
152.7
152.5
148.9
313.8
317.7
234.9
321.4
587
670
692
552
237
338
2 109
2618
1
14.31
6853
6,700
105
5.85
214
30
6.76
210
31
4.77
203
29
2073
1,958
94
1 592
1676
94
Urban Transit Systems
Passengers carried, total
6
mil..
8,130
8228
100
!5 051
100
15,538
744
637
718
695
641
656
681
Motor Carriers
Carriers of property, large, class I, 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..
r
r
8
100
7489
100
3776
100
4273
284
215
8
83
105
183
312
r
Freight carried —volume indexes, class I and II
intercity truck tonnage (ATA):
Common and contract carriers of property
(qtrly.)
average same period 1967—100..
Common carriers of general freight,
seas, adj
1967= 100..
8
8
42
49
96
92
155
180.3
147.9
157.5
25,352
23r576
382
28254
26350
439
6802
6329
98
6959
6492
107
6995
6521
117
7514
7022
118
24093
858
3
840
26352
1337
3
1 131
6404
270
274
6662
175
184
6623
222
156
6807
540
544
928.7
913.7
243.4
933.1
918.2
285.5
236 1
233.0
269.8
279.7
279.7
230.8
227.2
282.3
291.7
292.4
226.8
222.4
298.5
299.0
188
4677
72
3546
74
177
49.04
71
35 13
72
203
4851
71
3599
69
277
4956
75
3548
74
198
48 19
58
3670
64
309
4940
48
3692
55
247
52.17
69
34.37
66
267
5305
77
35.46
70
2
9010
2
9971
11 252
2
9285
3020
741
807
851
596
313
728
754
806
692
340
820
1 056
995
768
329
946
1 035
1 272
883
303
172
954
2 183
1 175
222
704
796
1000
858
200
7451
10 482
10661
150.5
141.7
140.4
136.0
141.4
146.6
147.4
150.9
153.0
Class I Railroads t
Financial operations, qtrly. (AAR), excl. Amtrak:
Operating revenues, total #
mil. $..
Freight
do
Passenger, excl. Amtrak
do....
Operating expenses
Net railway operating income
Net income (after taxes) . . . .
Traffic:
Ton-miles of freight (net), total, qtrly
Revenue ton-miles, qtrly. (AAR)
Price index for railroad freight
r
do....
do
do
bil..
do....
1969=100..
5
299.6
239.4
235.9
300.5
726
710
883
773
179
610
655
787
718
150
564
758
910
707
158
6 195
5250
2875
2 167
681
700
871
752
233
2027
4
64.4
Travel
Hotels and motor-hotels:
Restaurant sales index.... same month 1967—100 .
Hotels: Average room sale |j
dollars..
Rooms occupied
% of total
Motor-hotels: Average room sale tj
dollars..
Rooms occupied
% of total
170
45.69
72
32.36
71
Foreign travel:
US. citizens: Arrivals.. .
Departures
Aliens: Arrivals
Departures
Passports issued
thous..
do
do....
do
do
9259
9681
9886
7814
3 170
do
56922
59081
2339
3289
747
839
906
697
318
4694
50,604
21 967
22389
33,110
9,084
155 1
56,738
24333
22983
37,983
10,194
1599
4,584
1976
1 882
3,072
810
1573
4,599
1990
1853
3,093
832
1577
4638
2008
1 861
3,099
828
1577
4659
1995
1 888
3,119
834
1578
4,820
2022
1996
3,167
889
1580
4831
2030
1 987
3,228
860
1583
4,825
2059
1959
3,305
827
1588
5014
2 113
2059
3,270
950
1594
4,848
2097
1 905
3,257
891
1596
4970
2 130
2 006
3,397
887
1599
5,135
2201
2071
3,346
975
1642
mil $
do..
do....
6360
519.2
80.2
697 1
561 5
95.9
577
440
9.3
57 1
462
79
59 6
464
10 1
57 6
468
77
59 1
483
78
57 1
478
6.4
599
488
7.7
61 7
482
97
56 1
465
62
60 5
490
78
57 9
488
59
do . .
do....
do....
491.1
326.2
142.7
7
5342
7
374.4
7
44 1
29.9
12.2
442
302
12.2
457
305
13.4
448
309
12.1
454
31 2
12.3
42 1
30.1
10.1
44.7
30.1
12.8
473
323
12.8
424
31 1
9.2
462
396
5.1
452
332
9.8
. .
National parks visits @
2
COMMUNICATION
Telephone carriers:
Operating revenues #
Station revenues
Tolls message
Operating expenses (excluding taxes)
Net operating income (after taxes)
Phones in service end of period
Telegraph carriers:
Domestic:
Operating revenues
Operating expenses
Net operating revenues (before taxes)
Overseas, total:
Operating revenues.. ..
Operating expenses
Net operating revenues (before taxes)
See footnotes at end of tables.
mil. $..
do...
do
do....
do....
mil
r
137.4
P
338
P
3481
SURVEY OF CURRENT BUSINESS
S-22
1979
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1980
1980
Annual
May 1981
Mar.
Apr.
May
June
July
1981
Aug.
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic Chemicals
Production:
Aluminum sulfate, commercial (17% A12O3) $
thous sh tons
Chlorine gas (100% C12) $
do.
Hydrochloric acid (100% HC1) $
do....
Phosphorus elemental iji
do
1314
12,228
3,090
460
1 182
11 198
2,812
440
102
962
243
42
96
970
236
37
101
949
218
39
91
872
221
32
108
813
197
32
105
824
219
33
97
903
240
28
102
938
233
43
85
949
222
39
12772
770
1 115
11324
740
1258
974
73
104
967
64
101
901
56
102
874
843
840
907
972
966
53
100
1,031
55
103
758
741
719
713
70
71
62
69
57
55
61
61
56
53
58
57
58
53
61
48
60
56
Sulfur, native (Frasch) and recovered:
Production
thous. Ig. tons..
Stocks (producers') end of period . .
. do.
'10,263
4 172
10,201
3042
879
3,896
834
3774
826
3664
821
3594
863
3570
834
3503
802
3405
842
3,306
Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydrous $
thous sh tons
Ammonium nitrate, original solution $
do....
Ammonium sulfate $ .
do
Nitric acid (100% HNO3) $
do....
Nitrogen solutions (100% N) $
do....
Phosphoric acid (100% P2O5) $ .
do
Sulfuric acid (100% H2SO4) t
do ...
18523
7,543
2363
8,465
19028
8,590
4
1 469
8,931
3,031
10808
43,888
1665
775
181
824
1633
775
155
796
1626
782
149
783
1498
653
(2)
1528
568
172
1634
624
161
1475
632
168
1474
698
191
653
592
647
672
726
262
996
3860
260
951
3967
280
838
3494
270
858
3,471
250
801
3,470
254
914
3,540
232
909
3,574
630
637
355
624
509
535
648
460
563
693
483
657
3 123
3013
3,125
r
92
r
886
r
Sodium
Sodium
Sodium
Sodium
hydroxide (100% NaOH) $ .
do
silicate, anhydrous $
do....
sulfate anhydrous $
do
tripolyphosphate (100% Na5P3O10) $
do....
Titanium dioxide (composite and pure) $ . . . do. .
2,245
10317
43,119
Superphosphate and other phosphatic fertilizers
(100% P2O5):
Production
thous. sh. tons..
Stocks end of period
do
Potash deliveries (K2O) ]j
do .
Exports total #
Nitrogenous materials
Phosphate materials
Potash materials
703
495
477
713
587
612
28,043
3
3,176
17919
1,576
8,086
372
6,950
42,389
5,752
27661
2,496
15451
2,387
11758
807
2049
219
1429
106
277
245
9275
116
247
289
8907
158
21
31
644
25
52
53
756
17
3
do .
do....
do
do....
Imports:
Ammonium nitrate
Ammonium sulfate
Potassium chloride
Sodium nitrate
7,662
366
7,640
5
do
do....
do
do
2034
171
1 301
95
65
114
398
46
104
402
66
106
534
1654
1471
1657
282
221
156
20
12
527
22
10
26
563
21
10
11
762
0
27
14
638
11
103
36
91
905
222
34
924
r
51
r
92
912
56
96
53
59
55
58
57
60
843
3,269
888
3,042
3018
890
r
818
2989
1,550
750
(2)
1,730
821
(2)
1663
837
832
763
208
901
269
983
3,994
r
257
r
3,610
242
916
3,793
238
871
3465
669
515
456
666
431
674
676
481
663
728
372
810
2580
319
1560
178
2487
343
1595
83
1853
133
2486
337
1408
101
12
12
751
19
16
836
13
13
26
901
6
66
101
o
56
109
780
224
1 130
1,011
241
250
40
r
(2)
1536
736
(2)
r
861
r
869
3704
r7
l 673
r?
869
2918
l 113
371
1573
1 303
556
651
2261
309
1 362
109
1 803
258
1 125
75
1864
226
1225
94
17
18
952
10
20
42
681
0
18
13
681
13
31
46
876
25
Industrial Gases
Production:
Acetylene
mil 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
5741
5633
511
481
443
439
382
429
483
506
405
504
509
443
3,124
99271
427,151
456 636
3,544
95883
473,322
414615
267
8433
39,599
37952
268
8365
38,348
36456
289
8080
40088
34916
324
7524
35,665
29298
325
6845
37,418
334
6678
35649
31637
326
7857
40552
298
7740
43459
35529
298
8632
43,483
35966
292
304
7879
40 146
35675
281
8603
38*316
32805
Organic Chemicals §
Production:
Acetylsalicylic acid (aspirin)
Creosote oil .
Ethyl acetate (85%)
Formaldehyde (37% HCHO)
mil. lb..
mil gal
mil. lb..
do
1
33.7
31.9
'1616
1525
'262.4
'242.5
'5 971 1 '5 692 8
3.7
14 1
227
5343
37
122
197
5116
38
3.4
120
168
4229
11 7
2.5
11 3
157
3558
170
30
104
218
4528
26
10 2
208
506 8
do....
mil gal
mil lb
r
297.8
314.8
l 109 5 il10638
'10129
8569
28.2
90 7
91 6
28.5
95 9
84 2
27.8
800
73 4
24.7
87 4
49 g
31.3
92 7
43 2
4160
20.6
80 5
51 0
2.8
148
198
4832
2.8
135
158
4764
Glycerin, refined, all grades
Methanol synthetic
Phthalic anhydride
ALCOHOL
Ethyl alcohol and spirits:
Production
Stocks, end of period
Denatured alcohol:
Production
Consumption (withdrawals)
Stocks, end of period
28 163
32 186
9 119
41 900
37095
i
1
1
2.7
26.4
81 3
67 5
32
123
2.7
117
14 0
20 1
5242
25.3
69 5
73 5
22.2
4986
24.3
84 1
73 7
5190
22.3
106 1
79 2
220
mil. tax gal..
do....
570.3
53.6
641.4
72.0
54.7
55.4
54.6
678
54.0
45.7
65.0
52.8
72.7
46.4
70.4
57.2
67.1
64.3
575
47.7
62.3
mil wine gal
do....
do
2607
260.9
41
2852
2780
107
286
280
53
27 5
284
34
26 4
28 2
227
226
166
21 3
23 1
22 6
21 5
16 4
232
102
214
48
164
78
l
l 7786 '1 4273
1387
12,408.4 '11,459.3 1,116.1
'3 823 9 '3 383 3 3258
1
6,326.9 '5,448.0
422.5
'6,211.4 '5,497.0 575.1
1178
10594
3288
4807
496.5
913
971 4
2874
3986
401.4
761.1
2139
4337
349.4
955
1098
8050
2416
3979
393.3
1209
9068
2533
4543
458.9
1319
9673
2593
4958
515.6
1264
9724
2822
4642
513.0
1125
1021.1
286 1
4982
498.8
6480
317.2
2025
1283
7024
366.1
1975
1388
6829
367.3
1695
1460
6893
341.0
199.7
1486
706 1
314.8
2335
1579
5464
222.9
202.3
1212
5203
217.4
193.3
1097
25.3
102 9
66 7
1565
10707
3502
4496
444.6
1738
9422
3186
4485
476.5
2363
1 1149
3875
5240
5579
r
555 1
r
235.2
r
593 5
257.8
2156
1200
21 9
199
20.7
99 7
53 0
25.9
109 7
68 6
53.7
735
r
29
10 5
200
513 4
PLASTICS AND RESIN MATERIALS
Production:
Phenolic resins
mil lb
Polyethylene and copolymers
do....
Polypropylene
.
.. do
Polystyrene and copolymers
do....
Polyvinyl chloride and copolymers
do....
1
256
34
238
66
983
724.2
2316
3554
351.5
720
179
107
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments, quarterly
mil lb *
Paints, varnish, and lacquer, shipments:
Total shipments @
Architectural coatings
Product finishes (OEM)
Special purpose coatings
. .
See footnotes at end of tables.
2987 1
mil $
do....
do....
. do
6
7 024 8
6
3,418.7
6
2,284.0
6
1 322 0
'3 000 4
6119
289.3
204.5
118 1
7514
7569
76359
3,641.2
2,418.5
15762
7216
381.7
193.1
1468
7886
7040
6982
329.5
2217
1470
7412
2088
111 1
Apr.
S-23
SURVEY OF CURRENT BUSINESS
May 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1980
Annual
Mar.
Apr.
May
June
July
1981
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production:
Electric utilities total
By fuels
By waterpower
.. .
mil kw.-hr r2 246 934 rr2 285 548 187 542 168 562
do.... 1,966,802 2,009 651 163 210 142 817
r
do
280 131 r275 897 24 332 25745
Sales to ultimate customers, total (Edison Electric
Institute)
mil. kw.-hr.. 2 079 221 2 096 884 175 605 164 699
Commercial and industrial:
Small light and power §
do
493 494 509 815 40777 38745
Large light and power §
do.... 815,586 791,596 67 179 66 125
Railways and railroads
do
4245
4288
353
366
Residential or domestic
do
694 266 721 116 61 451 53831
Street and highway lighting
do
14755
14813
1 267 1 199
Other public authorities
do....
49,481
48,653
3,900
4016
Interdepartmental
do....
7,394
6,603
550
545
Revenue from sales to ultimate customers (Edison
Electric Institute)
mil. $.. 77,691.5 91 667.8 7,161.6 6,821.4
GAS
Total utility gas, quarterly
(American Gas Association):
Customers, end of period, total
thous..
46,817
47,577
Residential
do....
43,137
43,711
Commercial
do....
3,441
3627
Industrial
do
193
183
Other
do....
45
56
Sales to customers, total
tril. Btu..
15,644
5506
2 171
Residential
do
5077
Commercial
do
2506
995
Industrial
do....
7,753
2,236
Other
do
309
104
Revenue from sales to customers, total
mil. $..
39,380
16,382
Residential .
Commercial
Industrial
Other
do
do....
do
do....
14769
6,609
17495
506
175 733 189 430 216 051 215 435 191 483 178 541 178 552 r!95 589 205 192
146'867 161 774 191 750 194 959 172 991 160 675 159 335 173 298 182 836
28 866 27656 24302 20 476 18 491 17866 19217 r22 290 22355
157 676 165 924 182 194 192 936 188 204 171 198 165 276 174 903 187 047
38321
65,053
347
48483
1 154
3767
551
67438
41822
64946
342
53300
46 461
63715
48872
65597
47405
67583
42476
66*978
40363
65657
41871
66324
43 944
65 189
348
65866
356
72 190
349
66866
356
55528
351
53 194
381
60270
1 124
3857
533
1 121
4 138
545
1 163
4 185
573
1203
4249
550
1266
4031
564
1307
3835
568
1353
4 147
557
379
71063
1 418
4466
589
74004
83920
90298
87454
7831 2
74488
79102
85866
1302
1251
1394
13 32
1238
1396
13 31
1208
1398
1458
1241
1495
47,206
42,238
3414
189
44
3 169
2610
899
447
1,768
55
401
271
1,894
44
9,960
8,289
3388
1534
4 934
104
7 192
3 149
5840
201
46,886
43,504
3464
195
43
1 748
970
5 482
90
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production
Taxable withdrawals
Stocks end of period
mil bbl
do....
do
Distilled spirits (total):
Production
mil. tax gal..
Consumption, apparent, for beverage purposes
mil. wine gal..
Stocks end of period
mil tax gal
Imports
mil. proof gal.
Whisky:
Production
mil tax gal
Stocks, end of period
do....
Imports
mil proof gal
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
Distilling materials produced at wineries
do....
DAIRY PRODUCTS
Butter, creamery:
Production (factory) @
mil Ib
Stocks, cold storage, end of period
do....
Price, wholesale, 92 score (N.Y.)
$ per Ib..
Cheese:
Production (factory) total @
mil Ib
American, whole milk @
do..
Stocks, cold storage, end of period
do....
American, whole milk
do....
Imports
do
Price, wholesale, American, single daisies
(Chicago)
$ oer Ib..
See footnotes at end of tables.
184 19
168.12
1329
191 68
170.96
1396
16 56
1408
14 84
16 36
1433
1531
17 97
16 19
17 44
17 93
1581
1543
18 72
1708
14 72
17 02
1535
14 45
16 29
1451
15 01
1495
1353
14 18
14053
1336
1392
1349
1096
472
7 14
897
14 17
1270
1496
449 93
57802
11398
3458
648 08
779
3543
64921
826
3460
649 19
964
3728
649 27
788
3635
639 72
982
3448
633 44
783
3468
625 89
11 35
3825
617 26
1466
4253
626 84
11 84
54 40
578 02
955
884
872
1004
101 26
581 16
9540
8431
51202
86 00
9 54
58001
5 62
10 30
58199
6 20
9 48
58421
7 08
7 85
58550
6 00
2 72
57677
7 43
4 45
57226
5 80
5 10
56561
9 04
6 75
55961
11 35
6 15
55603
909
7 58
51202
7 06
6 51
5 06
7 64
2348
2240
1003
4.53
26 12
25 16
1 98
2 65
2 42
3 11
151
207
0.35
0.38
752
7 44
110 1
372.3
1.537
116 7
394.3
1.535
316 5
198 1
365 4
2245
586.2
4962
186.68
M47.52
64567
12365
2
1 80
2 21
1 62
4.83
3 36
0.35
1053
0.32
11 04
0.38
10 03
0.29
10 57
0.32
9 83
0.35
12 25
0.44
11 68
0.50
10 55
0.66
9 26
0.66
1 87
1 27
10 90
0.85
01
48
558 43
8763
254.36
503 87
34676
61029
9768
204.38
5 28
31 19
47758
677
1.60
5 66
2671
48183
780
1.49
4 65
29 76
434 17
2.27
2 93
27 18
38480
738
3.44
6 17
26 92
36405
899
1.82
20 23
27 26
341 12
8 06
10.22
164 44
23 16
48538
9 14
37.10
201 68
38 27
64349
8 76
90.62
5756
29 14
62703
923
31.48
2347
30 48
61029
903
10.29
786
30 34
55662
891
5.51
9846
177.8
1.272
1 1420
304.6
1.448
101 7
217.2
1.367
111 1
238.1
1.396
116 4
281.7
1.413
93 8
295.9
1.424
85 0
308.0
1.433
77 7
306.4
1.515
77 2
302.9
1.517
89 6
301.5
1.526
84 9
302.7
1.536
101 7
304.6
1.539
121 3
332.1
1.534
37153
2 1877
341 1
1945
495.1
3877
3328
2036
512.1
4065
2483
3 945 5
2354 1
578.8
4796
231 2
92
510.5
405 1
10 6
359 6
2305
544.4
4385
329 4
2059
620.0
5077
17 6
316 7
1927
613.8
501 2
17 5
315 0
1815
610.6
4982
24 9
328 1
1860
590.9
4844
29 3
315 0
1772
565.4
4623
137
354 2
223 1
582.7
472 1
15 1
309
345 2
2007
578.8
4796
44 4
342 8
2122
601.7
5047
10 3
1.414
1.562
1.508
1.535
1.542
1.548
1.555
1.570
1.615
1.653
1.641
1.641
1.640
r
434
r
328
r
188
172
149
145
926
185
1 92
3 61
926
175
407
352
294
r
r
596.3
r
5086
11 6
1.640
153
1.669
1.670
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1981
1980
Mar.
Annual
May 1981
Apr.
May
June
July
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS— Continued
Condensed and evaporated milk:
Production case goods @
mil Ib
Stocks, manufacturers', case goods, end of month
or year
mil Ib
796.1
725.0
62.0
68.8
63.9
69.1
66.9
57.8
56.2
50.4
51.5
60.3
55.7
54.7
54.9
76.7
51.8
76.2
88.6
105.8
115.8
127.8
131.7
119.6
93.4
75.6
51.8
41.7
36.9
39.5
42.3
43.4
3.7
4.0
4.4
2.8
2.1
3.1
4.2
4.0
3.6
5.0
2.8
3.4
2.9
123,411
65,839
12.00
128,425
71,269
13.00
10,946
6,081
12.70
11,013
6,345
12.70
11,664
6,895
12.60
11,321
6,580
12.50
11,036
6,339
12.60
10,782
5,897
12.80
10,364
5,398
13.20
10,453
5,601
13.70
10,076
5,127
14.00
10,491
5,912
14.10
10,739
6,212
14.10
10,093
5,903
14.00
11,426
6,706
13.80
mil Ib
do....
85.3
908.7
84.3
1,151.0
8.1
90.1
6.6
112.0
5.7
133.4
7.1
132.6
7.4
122.1
6.2
102.1
6.2
75.8
8.2
74.2
7.9
68.5
6.8
89.4
6.8
92.0
6.0
95.3
6.8
110.0
do
do....
4.3
92.6
5.3
85.0
6.1
83.7
4.4
114.4
4.8
140.4
6.3
137.4
6.5
118.7
4.5
109.5
3.0
76.2
3.4
75.3
5.0
69.5
5.3
85.0
6.6
80.6
r
4.8
92.8
3.9
96.4
Exports, whole and nonfat (human food)
do....
Price, manufacturers' average selling, nonfat dry
milk (human food) @
$ per Ib..
73.3
176.2
15.7
6.6
11.7
15.3
5.3
10.6
28.1
26.5
14.7
17.5
16.9
7.2
11.4
0.800
0.887
0.840
0.872
0.887
0.888
0.889
0.892
0.897
0.922
0.936
0.939
0.938
0.936
0.937
3,640.3
3,914.3
310.0
321.0
266.3
298.7
327.6
363.2
350.5
368.1
366.4
382.9
348.0
341.8
361.9
Exports
do
Fluid milk:
Production on farms
do....
Utilization in mfd. dairy products @
do....
Price, wholesale, U.S. average
$ per 100 Ib..
Dry milk:
Production:
Dry whole milk @
Nonfat dry milk (human food)@
Stocks, manufacturers', end of period:
Dry whole milk
Nonfat dry milk (human food) @
r
"13.70
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats, rye, wheat)
mil. bu..
Barley:
Production (crop estimate) t[
Stocks (domestic), end of period
On farms
Off farms
do....
do....
do....
do
Exports including malt §
Prices, wholesale (Minneapolis):
No 2 malting
No. 3 straight
$ per bu
do....
382.8
365.6
246.4
119.2
2
358.5
r
34.5
68.9
do
Corn:
Production (crop estimate, grain only) fl .. mil. bu..
Stocks (domestic), end of period, total
do....
On farms
do....
Off farms
do
Exports including meal and flour
do.
Price, wholesale:
Weighted avg., selected markets, all grades
$ per bu..
Oats:
Production (crop estimate)
fl
Stocks (domestic), end of period, total
On farms
Off farms
2
mil bu
do....
do
do....
2
mil. bu..
do....
do
do....
r
4.1
6.7
4.7
5.1
2.67
2.63
2.76
2.69
2.90
2.95
2
6,647.5
r
5,857.4
4,140.1
l,717.3
4,857.3
3,441.0
1,416.3
2,333.5
2,485.3
204.8
213.3
170.3
192.0
2.58
2.64
2.88
2.75
r
2.42
2
5266
476.8
400.8
76.0
2
4576
r
390.5
r
328.9
r
4.8
9.0
61.7
2
131.9
1,092.6
197.1
6.8
206.2
4
236.4
4
198.3
4
0.5
0.4
1.64
1.65
11.5
4.8
202.6
5 857 4
4,140.1
1,717.3
240.9
245.0
238.6
3,995.0
2,650.6
1,344.4
208.3
199.8
222.2
2558
211 4
444
'390.5
r
328.9
r
617
1.0
1.2
1.52
6.4
r
484.1
3948
89.3
38.1
0.1
9.1
(6)
1.3
1.0
1.7
0.5
0.9
0.7
1.5
0.8
(6)
2
145.1
2,721
1,800
3,582
2,711
247
228
243
192
254
176
320
256
288
285
237
113
195
258
476
132
368
238
342
339
354
216
253
271
333
268
249
231
173
169
156
166
100
162
49
255
301
231
283
224
226
9,247
6,019
10,831
6,805
620
619
289
490
166
445
155
611
218
412
829
498
2,439
568
2,170
687
1,077
583
1,358
761
436
590
830
635
749
852
2,503
2,969
2,138
1,859
1,552
1,082
866
912
2,813
2,969
2,686
2,604
2,342
6,620
584
518
585
540
644
419
1,938
577
2,664
4,978
409
474
730
533
613
809
0.173
0.225
0.235
0.240
0.240
0.220
0.210
0.205
0.205
0.210
0.245
0.265
0.270
0.270
0.275
2
2
15.0
2.38
2.18
22.4
17.7
2.51
16.3
r
9.3
2
122
2.44
2.73
r
184
(6)
93
68
2
2
4
2
2,134
2
533
1,601
2,051
2,370
2
478
1,891
2,186
492
'324
'800
1,716.2
773.9
942.2
1,903.8
754.1
1,149.7
1,225.1
569.6
655.5
Exports, total, including flour
Wheat only
do....
do ...
1,265.1
1,222.5
1,344.5
1,309.5
101.1
94.7
100.3
98.3
90.7
88.6
99.9
96.2
125.7
123.6
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
$ oer bu..
4.08
4.03
4.20
4.19
4.13
3.94
4.48
4.13
4.54
4.12
6
(8)
()
3.73
4.33
4.40
4.63
4.68
(6)
525.5
144.6
139.6
570
2,471.9
9753
1,496.6
4
902.0
4
376.5
4
do....
do
do
5.6
1,617.5
5
920.9
5
696.6
Stocks (domestic), end of period, total
On farms
Off farms
.. . .
See footnotes at end of tables.
6.7
9.3
5
1.47
1.57
3.7
202.1
112.2
900
6
(6 )
()
3
3 670 4
3
2,577.8
3
339.6
284.3
55.3
r
301.9
184 1
117.8
390.8
248.0
142.7
7,938.8
6,886.2
5,041.7
1,844.5
Exports
do....
Price, wholesale, No. 2, medium grain (Southwest Louisiana)
$ per Ib..
Rye:
Production (crop estimate) |f
mil. bu..
Stocks (domestic) end of period
do
Price, wholesale. No. 2 (Minneapolis)
$ per bu..
Wheat:
Production (crop estimate), total H
Spring wheat |f
Winter wheat U
Distribution quarterly @ @
4
192.1
"112.4
4
797
262.3
166.0
96.3
2.54
2.58
2.67
2.61
Exports, including oatmeal
do....
Price, wholesale, No. 2, white (Minneapolis)
$ per bu..
Rice:
Production (crop estimate) ]]
mil bags $
California 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. Ib..
Shipments from mills, milled rice
do....
Stocks, domestic, rough and cleaned (cleaned
basis) end of period ..
mil Ib
301.9
184.1
l!7.8
r
r
1,903.8
754 1
1,149.7
139.3
136.0
118.6
116.2
113.4
112.2
133.4
131.9
1,333.2
542.5
790.6
132.2
129.9
128.8
124.4
134.0
128.8
0.275
S-25
SURVEY OF CURRENT BUSINESS
May 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1980
1979
1980
Mar.
Annual
Apr.
May
June
July
1981
Aug.
Sept.
Oct.
Dec.
Jan.
25,232
415
56,920
25,860
421
57,513
3,842
609
Nov.
Feb.
Mar.
22,787
r
300
51,084
24,831
433
55,325
980
1,896
3,897
2,241
11.050
10.663
11.113
10.400
10.975
10.275
1,027
Apr.
1,203
FOOD AND KINDRED PRODUCTS; TOBACCO— Continued
GRAIN AND GRAIN PRODUCTS— Continued
Wheat flour:
Production:
Flour $
thous. sacks (100 lb.)..
Millfeed $
thous. sh. tons..
Grindings of wheat $
thous bu.
Stocks held by mills, end of period
thous. sacks (100 lb.)..
Exports
do....
Prices, wholesale:
Spring, standard patent (Minneapolis)
$ per 100 lb..
Winter, hard, 95% patent (Kans. City)
do....
284,051
4,945
636,375
282,655
r
4,866
628,599
22,165
384
49,104
21,231
368
47,170
22,814
390
49,836
21,356
377
47,786
23,137
410
51,760
24,025
424
52,980
24,813
430
54,762
26,285
453
58,392
24,420
392
54,582
3,842
15,014
3,323
2,713
867
918
4,268
1,606
894
2,137
3,716
1,396
1,034
522
10.566
'10.116
10.113
9.813
9.688
9.488
10.375
10.013
10.338
9.838
11.025
10.000
10.963
10.113
10.975
10.475
11.113
10.600
11.138
10.675
14,048
1,081
1,183
1,226
1,206
1,211
1,170
1,215
1,319
1,070
1,150
1,171
403
258
339
198
359
208
r
3,975
18,291
9.508
9.268
1
r
r
r
11.100
10.525
POULTRY AND EGGS
Poultry:
Slaughter (commercial production)
mil. lb..
Stocks, cold storage (frozen), end of period, total
mil. lb..
Turkeys . .
do
Price, in Georgia producing area, live broilers
$ per lb..
Eggs:
Production on farms @
mil. cases §..
Stocks, cold storage, end of period:
Shell
thous. cases §..
Frozen
mil lb
Price, wholesale, large (delivered; Chicago)
$ per doz..
13,820
r
354
208
372
219
0.285
0.290
0.285
16.6
15.0
16.6
31
24
22
25
19
24
30
23
0.757
0.773
0.714
0.672
0.629
228
3,002
185
2,507
214
2,725
215
2,803
190
2,483
213
2,726
69.68
71.53
85.00
67.18
71.64
83.40
65.05
70.23
76.47
64.29
70.04
77.17
63.08
68.56
77.38
61.50
68.41
78.00
61.40
65.47
80.88
6,745
7,601
8,404
7,362
7,788
7,768
6,873
7,988
41.78
48.49
47.42
48.36
46.44
45.07
41.67
42.78
39.88
40.15
15.1
15.8
15.3
15.8
14.7
13.8
12.8
12.8
11.9
12.2
387
240
339
198
361
209
372
207
402
234
461
287
495
326
548
384
556
399
579
420
0.260
0.270
0.235
0.215
0.235
0.245
0.310
0.320
0.325
0.305
0.285
0.295
192.3
193.6
16.5
15.9
16.1
15.5
15.9
16.0
15.9
16.5
16.1
16.8
38
23
31
24
22
23
30
26
47
27
51
29
39
29
28
31
39
30
15
29
19
25
0.662
0.628
0.606
0.568
0.508
0.546
0.632
0.659
0.688
0.643
thous animals
do....
2,499
31,504
2,294
31,642
201
2,403
185
2,540
161
2,616
154
2,533
186
2,667
182
2,684
198
2,739
Prices, wholesale:
Beef steers (Omaha)
$ per 100 lb
Steers, stocker and feeder (Kansas City) .... do....
Calves, vealers (So. St. Paul)
do....
67.75
77.60
91.41
66.96
71.30
75.53
66.88
72.67
73.88
63.07
66.89
73.60
64.58
65.52
71.88
66.29
68.83
72.00
70.47
69.48
73.00
72.31
71.92
79.12
85,425
91,882
7,856
8,456
8,167
7,279
6,910
42.13
39.48
33.97
29.08
29.35
34.97
18.3
14.5
13.9
11.9
11.8
13.3
4,833
5,363
470
466
454
400
420
427
466
510
415
468
488
426
488
66.58
62.46
61.38
59.50
62.75
64.00
67.50
68.25
65.75
62.00
55.67
53.75
46.50
54.50
55.25
mil. lb..
do....
do....
do....
37,225
706
1,378
2,178
38,590
750
1,661
2,050
3,099
695
144
166
3,315
716
132
134
3,311
706
139
173
3,089
642
164
154
3,070
578
145
208
3,016
514
129
170
3,221
510
136
133
3,577
584
165
207
3,097
679
144
167
3,349
750
154
191
3,416
792
143
171
3,011
r
783
141
167
3,383
774
169
131
do
do....
do....
do....
21,671
361
366
1,712
21,849
338
425
1,530
1,683
344
42
121
1,772
305
37
93
1,813
286
31
133
1,755
264
36
111
1,815
250
38
158
1,804
235
40
125
1,860
226
35
95
2,064
250
39
162
1,733
286
27
122
1,892
338
33
143
1,971
371
34
128
1,751
r
356
38
128
1,931
351
54
87
Price, wholesale, beef, fresh, steer carcasses,
choice (600-700 Ibs.) (Central U.S.)
$ per lb..
1.011
1.044
1.032
0.994
1.020
1.052
1.101
1.120
1.080
1.055
1.014
1.006
0.998
0.961
0.943
0.255
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves .
. . . . . .
Cattle
Hogs:
Slaughter (federally inspected)
thous. animals..
Prices:
Wholesale, average, all weights (Sioux City)
$ per 100 lb..
Hog-corn price ratio (bu. of corn equal in value
to 100 lb. live hog)
Sheep and lambs:
Slaughter (federally inspected) ^ thous. animals..
Price, wholesale, lambs, average it)maha)
$ per 100 lb..
64.92
66.28
83.90
59.25
MEATS
Total meats (excluding lard):
Production, total
Stocks, cold storage, end of period
Exports (meat and meat preparations)
Imports (meat and meat preparations)
Beef and veal:
Production total
Stocks, cold storage, end of period
Exports
Imports
0.997
Lamb and mutton:
Production total
Stocks, cold storage, end of period
mil lb
do....
284
11
310
9
28
8
28
8
27
9
22
10
23
10
23
9
26
8
29
8
24
10
28
9
30
9
26
8
29
8
Pork (excluding lard):
Production, total
Stocks, cold storage, end of period
Exports
Imports
mil. lb..
do....
do....
do....
15,270
281
330
361
16,431
349
314
433
1,388
291
26
37
1,516
345
32
35
1,471
357
30
31
1,312
314
32
35
1,232
264
28
44
1,189
217
19
39
1,335
222
18
31
1,485
269
28
40
1,339
321
29
37
1,428
349
28
39
1,416
351
27
37
1,234
356
32
33
1,423
359
37
37
Prices, wholesale:
Hams, smoked #
Index, 1967=100..
Fresh loins, 8-14 lb. average (N.Y.)
$ per lb..
252.6
1.076
3
254.8
1.011
223.3
0.916
0.870
0.866
0.970
234.1
1.032
266.9
1.116
274.8
1.114
286.1
1.136
294.2
1.100
288.8
1.094
251.3
1.156
246.9
1.146
245.9
1.105
252.4
1.035
148.5
1.354
8.0
1.570
19.5
1.470
15.4
1.350
12.0
1.253
16.9
1.345
9.6
1.200
8.2
1.220
9.6
1.190
9.4
1.200
19.9
1.080
13.5
1.095
27.8
1.100
19.2
1.120
1.150
r
2,834
!7,047
2,918
4,297
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans:
Imports (incl. shells)
thous. Ig. tons..
Price, wholesale, Accra (New York)
$ per lb..
2
165.2
1.604
Coffee (green):
Inventories (roasters', importers', dealers'),
end of period
thous. bags 1J..
Roastings (green weight)
do....
2,521
17,005
Imports, total
From Brazil
Price, wholesale, Santos, No. 4 (N.Y.)
Confectionery, manufacturers' sales
do....
do....
$ per lb..
mil. $..
19,396
1,890
1.763
4,347
18,153
3,505
2.066
4,908
1,421
44
2.050
415
1,642
314
2.080
340
1,566
277
2.180
325
1,663
287
2.110
318
1,533
419
1.950
293
1,386
336
2.060
396
1,062
208
2.060
526
1,292
346
2.100
533
1,486
352
2.100
454
1,715
341
2.080
425
1,858
473
2.180
'421
mil. lb..
471
471
370
355
345
347
359
380
379
391
400
471
388
Fish:
Stocks, cold storage, end of period
See footnotes at end of tables.
r
2,907
4023
r
2,834
r
2,956
3859
2,850
4,737
4,868
1,738
259
2.180
461
r
344
1,395
364
2.180
455
"334
2.180
SURVEY OF CURRENT BUSINESS
S-26
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1980
1980
1979
Mar.
Annual
May 1981
Apr.
May
June
July
1981
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FOOD AND KINDRED PRODUCTS; TOBACCO—Cont.
MISCELLANEOUS FOOD PRODUCTS— Cont.
Sugar (United States):
Deliveries and supply (raw basis): §
Production and receipts:
Production
thous sh tons
Deliveries total
For domestic consumption
Stocks raw and ref end of period
do
do....
do
4733
4678
229
116
176
158
70
60
96
592
928
10788
10,714
3503
10815
10,122
2934
869
843
3384
810
765
3071
965
936
2841
933
875
2510
968
907
2204
975
900
1866
955
905
1548
899
808
1679
744
701
2345
1 127
758
998
864
2934
754
697
3330
20650 123 950
26370
3466
Exports raw and refined
sh tons
14924
608 029
38616
21008
35730
64 641
45 114
87919
40495
81229
Imports raw and refined
thous sh tons
4810
4 127
392
302
304
398
397
349
314
310
510
272
387
289
313
0.164
0228
0.306
0405
0.200
0295
0.232
0315
0331
0422
0.324
0452
0.277
0393
0.351
0442
0.372
0413
0.427
0.560
0.409
0550
0.291
0403
0.303
0432
0.266
0383
0.231
0344
174 690
184 786
17456
18501
15871
16460
14099
11883
11870
14271
12 126
15936
12891
18354
14696
mil. lb..
do
4,206.4
1319
4,177.8
1307
362.8
158 1
328.3
1460
325.1
1356
314.5
1256
329.8
1117
348.1
1145
347.0
1255
379.6
1028
348.9
1119
367.6
1307
331.4
1252
325.2
1220
354.1
1185
Salad or cooking oils:
Production
Stocks end of period @
do....
do
5,075.6
1412
5,167.2
1225
450.1
1449
421.8
1462
448.7
1607
433.7
1483
409.6
1356
481.1
1579
452.8
1375
414.5
1318
394.4
142.7
411.2
1225
404.1
1379
409.5
1316
476.6
1282
Margarine:
Production
Stocks end of period @
do....
do
2,553.2
805
2,592.8
742
231.6
732
184.5
695
2005
625
2146
747
192.1
783
186.9
607
213.2
66 1
221.9
800
218.4
714
264.6
742
235.5
622
214.4
683
229.9
768
Price, wholesale (colored; mfr. to wholesaler or
large retailer; delivered)
$ per lb..
0.549
0.603
0.565
0.599
0.599
0.599
0.599
0.637
0.637
0.624
0.624
0.624
0.637
0.637
0.637
l,042.7
r
7149
55.9
82.9
653
52.9
84.6
577
50.0
89.9
538
572
89.8
545
617
88.3
590
53.8
87.9
51 1
52.2
91.9
61 7
46.0
99.6
654
47.0
87.8
573
50.8
96.0
629
559
97.1
624
68 1
r
87.4
r
640
r
104.5
699
515
5,782.1
29794
413.0
501.0
2675
399.3
504.7
2474
343.0
489.2
2644
417.1
459.7
2406
427.5
470.5
2330
455.7
431.9
235.3
402.8
455.6
2457
430.5
512.2
2686
439.5
449.3
236.1
412.1
495.9
2396
413.0
488.5
2588
436.0
r
440.7
r
2458
r
436.9
482.2
2589
443.8
50.5
59.5
47.5
55.8
583
58.1
47.6
56.3
46.4
56.2
52.4
51.0
57.2
62.5
71.6
66.9
63.0
63.1
625
58.3
65.5
67.7
66.0
'65.0
61.8
71.2
r
50.6
1392
44.5
79 1
r
636
656
762
612
52.1
80.3
56.5
77.7
l!8.9
996
1155
1023
44.5
200.1
47.1
203.7
29.3
0.320
66.7
0.335
10106
8878
7063
741 6
r
6987 r 6808
1,900.1 l,976.3
9909
8352
Prices, wholesale (New York):
Raw
Refined (excl excise tax)
$ per lb..
do
Tea imports
thous lb
1
55765 134 737
0.200
0315
FATS, OILS, AND RELATED PRODUCTS
Baking or frying fats (incl. shortening):
Production
Stocks end of period @
Animal and fish fats:
Tallow, edible:
Production (quantities rendered)
Consumption in end products
Stocks, end of period
fl
mil. lb..
do
do....
Vegetable oils and related products:
Coconut oil:
Production, refined
Consumption in end products
Stocks, refined, end of period
Imports
r
5,836.3
3 1176
390.4
595.6
748.4
r
644.7
693.5
538
do....
do....
40.1
979.8
49.6
889.3
46.4
42.7
38.4
102.8
37.7
393
41.9
628
32.7
587
47.6
67.7
35.0
56.5
36.5
126.7
36.6
90.9
49.6
1160
47.4
110 1
do
do....
7435
589.4
8106
638.2
707
46.5
643
46.4
683
466
65 1
52.9
662
45.2
699
51.2
762
56.3
806
63.9
680
64.3
590
597
658
61 9
do....
do....
555.0
65.2
595.3
76.3
49.8
72.1
43.1
62.9
465
65.4
49.6
59.9
44.5
71.6
44.7
62.3
52.8
65.8
52.8
72.1
52.3
79.3
615
76.3
56.9
72.4
do....
do
1,260.5
1 1408
1,447.1
1 370 2
145.1
1310
119.8
1139
125.5
1196
116.8
1100
104.2
115 1
104.9
1075
93.1
948
116.4
94 1
130.5
1198
122.3
125 1
131.7
1313
do....
do....
618.2
144.3
698.3
170.1
56.6
212.8
58.6
188.7
68.2
165.9
65.1
167.1
57.9
144.6
65.5
139.8
55.6
121.9
57.5
122.6
51.8
152.9
49.5
170.1
38.0
183.6
do....
$ per lb..
633.0
0.369
785.4
0.261
110.5
0.243
71.0
0.215
105.0
0.210
31.4
0.223
70.3
0.263
77.6
0.273
89.3
0.263
53.7
0.248
66.6
0.330
47.1
0.338
77.0
0.334
mil. lb..
do
11,504.1
9 110.1
12,097.2
89822
1,098.1
767.7
993.7
687.1
1 009.8
7128
901.6
6990
927.8
7203
913.8
7607
890.1
7645
1,080.2
784 1
1,077.6
7605
1,024 3
763 1
719.1
1,373.9
682.6
1,677.3
7388
1,737.8
112.5
0.302
84.7
0.309
1205
0.286
1160
0.282
1138
0.265
2028
0.281
fi
Corn oil:
Production* Crude
Production: Refined
Consumption in end products
Stocks, crude and ref., end of period
Cottonseed oil:
Production: Crude
Production1 Refined
do....
. do
do....
mil. lb..
do....
Tallow and grease (except wool), inedible:
Production (quantities rendered)
Consumption in end products
Stocks, end of period
fl
904.8
7657
56.6
r
fl
.
Consumption in end products
Stocks, crude and ref., end of period jj
Exports (crude and refined)
Price, wholesale (N.Y.)
Soybean oil:
Production: Crude
Production: Refined
r
r
r
Consumption in end products
Stocks, crude and ref., end of period
fl
do....
do....
8,656.4
1,030.1
8,585.2
1,737.8
762.9
1,175.9
671.6
1,183.7
6936
1,144.8
683.7
1,225.9
671.2
1,305.1
7545
1,263.0
Exports (crude and refined)
Price, wholesale (refined; N.Y.)
do....
$ per lb..
2,370.6
0.327
2314.6
0.289
325.4
0.274
269.6
0.254
3273
0.256
1946
0.262
1097
0.319
1757
0.318
737.1
1,210.1
171 2
0.320
4850
588 970
365,622
4616
80058
38,677
54619
36,353
53231
26,995
4 284
42998
40909
40877
25681
25780
25,073
4 548
32323
27,144
47610
32793
64420
26059
4 850
66563
22,342
44809
33973
32831
44274
53728
31 753
94256
620,565
3,290
78.256
9650
49534
285
10.928
6729
52830
237
6.485
6 161
50496
281
5.409
6644
53689
325
6.690
6 193
49612
228
4.860
6809
52 145
275
2.548
8554
54839
335
7.770
9630
62 133
335
8.171
6833
49248
251
6.116
8204
43762
238
6.781
9868
53048
r
258
6.958
9238
49481
211
8.289
8.534
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
Taxable
Cigars (large), taxable
Exoorts. ciearettes
See footnotes at end of tables.
mil. lb..
2
2
1,527
mil lb
thous lb
do....
4883
561 756
377,203
millions
do ..
do....
do....
93 150
613 830
3,356
79.717
r
0.354
7767
2,016.7
TOBACCO
Leaf:
Production (crop estimate)
Stocks, dealers' and manufacturers',
end of period
Exports incl. scrap and stems
Imports, incl. scrap and stems
0.637
1,772
0.285
S-27
SURVEY OF CURRENT BUSINESS
May 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Mar.
Annual
1981
1980
Apr.
May
June
July
Oct.
Nov.
52,134 48,820
281
325
1 703 1510
53,048
138
1 608
50461 58,493 57458
137
202
242
1 542 1 711 1536
Aug.
Sept.
Dec.
Jan.
Feb.
Mar.
64390
264
1 749
64 187
263
1 737
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value total #
Calf and kid skins
Cattle hides
thous.$..
thous. skins..
thous. hides..
991,707
2,321
23731
693,678
2,494
19568
78,195
337
1737
58,999
181
1671
thous. $..
thous. pieces..
do....
138,800
15,529
2,444
88,200
9,027
519
8,900
1,074
52
9,800
1,378
6
9,100
1,466
15
7,500
1,027
1
6,200
640
30
6,400
666
0
5,100
286
29
6,500
492
8
5400
330
6
6,800
248
10
$ per Ib
do....
1687
0.731
1098
0.459
1 150
0394
0860
0.381
0860
0.338
0860
0382
1 100
0439
1 100
0.533
1 100
0430
1 100
0491
1 100
0543
1 100
0.501
thous. sq. ft..
187,665
192,597
18,710
13,024
12,652
15,483
15,481
15,215
15,818
19,051
20,880
index, 1967-100..
329.6
281.4
284.7
270.4
263.2
263.9
282.6
312.8
255.3
249.5
268.9
398 480
394 596
34 440
33517
34832
33 137
27932
31 474
33335
36976
305,172
72779
20,529
3651
301,069
68658
24869
4 125
26,181 25,777 25,949
6533
6488
5828
1 771 1 912 2350
349
414
373
24,661
6 183
2293
337
21,378
4733
1821
309
23,858
5363
2,253
309
25,188
5862
2,285
375
28,239
6421
2,316
381
7581
9781
770
780
742
730
704
893
875
2169
181.5
J
2438
4
243 1
189.3
2479
189.3
2479
189.3
189.3
189.3
189.3
Imports:
Value, total #
Sheep and lamb skins
Goat and kid skins
Price, wholesale, f.o.b. shipping point:
Calfskins packer heavy 9 1/2-15 Ib
Hides, steer, heavy, native, over 53 Ib
61,787 49,921 45904
147
122
260
1 914 1 650 1 509
7600
546
67
8200
1,289
34
926
68
13,641
19,633
14,418'
19,717
283.2
317.1
302.7
30285
29454
31 253
30401
23,030
5 105
2,150
375
23,314
4050
2,090
351
23,052
5829
2,372
342
22,955
5226
2,220
358
952
908
877
710
804
LEATHER
Exports:
Upper and lining leather
Price, wholesale, f.o.b. tannery:
Sole, bends, light
LEATHER MANUFACTURES
Footwear:
Production total
.
thous pairs
Shoes, sandals, and play shoes, except athletic
thous. pairs..
Slippers
do .
Athletic
do....
Other footwear.
.
.
do
Exports
do .
1 180
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 Dumos. low-medium aualitv
do....
3
187.0
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
.
2
2
2,879
588
2,291
2,257
600
1,657
2,307
568
1,739
2,486
543
1,943
2,479
494
1,985
2,783
570
2,213
2,818
527
2,291
2,903
549
2,354
2,480
550
1,930
2,329
500
1,829
2,523
520
2,003
2,542
579
1,963
2
2
31,422
2
6,584
24,838
2,538
543
1,995
2,343
562
1,781
2,512
500
2,012
2,530
469
2,061
2,454
419
2,035
2,716
504
2,212
2,708
494
2,214
2,851
511
2,340
2,494
542
1,952
2,350
492
1,858
2,424
501
1,923
2,379
557
1,822
37,061
7,317
29,744
36,514
6,942
29,572
31,885
2
7,220
24,665
do....
do....
do
5,342
1,171
4,171
5,805
1,807
3,998
5,721
1,327
4,394
5,769
1,371
4,398
5,568
1,443
4,125
5,534
1,527
4,007
5,570
1,613
3,957
5,659
1,701
3,958
5,776
1,741
4,035
5,832
1,783
4,049
5,826
1,799
4,027
5,805
1,807
3,998
5,883
1,819
4,064
6,065
1,843
4,222
do
do....
1,447
11,513
1,655
9,859
180
896
178
655
170
730
153
830
119
876
134
804
118
863
123
867
117
892
127
799
756
848
966
mil bd ft
do....
8,388
529
7,176
499
575
542
539
565
563
508
614
515
559
563
581
522
682
557
670
566
572
568
479
499
631
551
r
547
515
649
600
8,427
8,412
918
7,165
7,206
877
683
591
1,058
449
516
991
525
620
896
592
607
881
540
511
910
614
622
902
685
647
940
638
661
917
558
570
905
520
548
877
614
579
912
r
547
r
590
955
655
649
961
do....
do
do
520
156
363
540
117
422
53
14
39
58
14
44
66
13
53
49
10
39
42
6
36
42
13
29
35
7
28
40
11
30
40
5
35
37
8
29
51
9
42
49
9
39
43
9
35
Price, wholesale:
Dimension, construction, dried, 2" x 4", R.L.
$ per M bd. ft..
277.24
223.42
222.70
184.83
185.56
237.01
238.97
248.37
232.98
224.31
214.86
217.12
2
7,950
523
6,559
419
509
501
441
486
571
512
552
503
580
512
558
470
510
434
678
492
509
473
439
419
617
456
463
447
2
7,938
2
6,758
6,663
640
544
425
456
493
545
553
561
566
571
614
600
575
546
626
620
519
528
515
493
569
580
492
472
Stocks (gross), mill, end of period, total
Hardwoods
Softwoods
Exports total sawmill products
Imports total sawmill products
SOFTWOODS
Douglas fir:
Orders new
Orders, unfilled, end of period
Production
Shipments
Stocks (gross) mill end of period ..
Exports, total sawmill products
Sawed timber
Boards planks, scantlings, etc
Southern pine:
Orders, new
Orders, unfilled, end of period
Production
Shipments
.
.
do..
do
do
mil. bd. ft..
do.
do
do..
Stocks (gross), mill and concentration yards, end
of period
mil. bd. ft
7,932
1,175
1,270
1,304
1,273
1,221
1,213
1,208
1,222
1,251
1,257
1,248
1,270
1,259
1,279
thous. bd. ft..
209,793
280,243
41,269
23,153
17,882
29,384
22,228
24,274
19,376
20,072
16,731
20,878
14,763
11,781
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.
1967=100..
366.2
337.2
368.3
334.4
331.0
329.6
333.0
331.6
324.3
316.1
316.1
320.0
301.4
324.6
326.9
319.3
319.3
319.3
323.6
325.8
325.8
330.2
330.2
330.2
Exports, total sawmill products
See footnotes at end of tables.
26,059
Apr.
S-28
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
May 1981
1980
Mar.
Annual
Apr.
May
June
July
1981
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
LUMBER AND PRODUCTS—Continued
SOFTWOODS— Continued
Western pine:
Orders new
Orders unfilled end of period
mil bd ft .
do....
9630
403
7768
327
581
351
531
346
647
380
627
376
671
421
631
393
810
447
738
445
639
416
519
327
688
419
605
415
751
443
Production
Shipments
do....
do
9,780
9696
7,633
7844
709
655
528
536
545
613
568
631
573
626
650
659
750
756
734
740
646
668
637
608
659
596
631
609
740
723
Stocks (gross) mill end of period
do
1379
1 168
1374
1 366
1 298
1 182
1 173
1 167
1 161
1 139
1 168
1 231
1 253
1 270
317.26
287.55
314.97
242.34
215.48
252.06
310.05
327.35
304.06
293.25
306.22
340.83
1.9
3.7
3.5
3.5
37
3.7
4.0
2.9
2.6
1.5
1.9
1.5
1.9
780
12.4
58
8.9
53
10.5
55
10.0
66
11.1
73
9.6
70
9.4
64
9.8
72
9.4
61
10.0
5.8
12.4
64
10.9
67
9.3
Price, wholesale, Ponderosa, boards, No. 3,
1" x 12", R.L. (6' and over)
$ per M bd. ft..
1235
HARDWOOD FLOORING
Oak:
Orders new
Orders unfilled end of period
mil bd ft
do....
(3)
998
967
5.4
(3)
do
do....
Shipments
Stocks (gross), mill, end of period
934
7.0
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
Scrap
Pig iron
thous. sh. tons..
do
do....
2,818
11094
105
4,101
11 168
73
276
1 163
1
321
829
2
338
1207
19
418
1070
36
398
870
1
449
821
4
401
822
1
366
967
2
316
525
3
324
763
(2)
256
586
2
213
683
1
260
442
2
Imports:
Steel mill products
Scrap
Pig iron
do
do....
do
17518
760
476
15495
557
399
1 120
70
35
1 250
49
56
1 615
40
22
1203
38
23
1 079
26
42
1374
26
26
1 064
54
12
1 142
40
32
1 181
35
43
1 536
58
72
1281
38
18
1 234
41
10
1 142
53
5
thous. sh. tons..
do....
do....
..
do ..
'52,219
1
47,048
98,901
8724
'42,275
'40 689
1
83,846
r
8037
4,202
3,972
8,393
7819
4,050
3,902
7,893
7866
4,006
3543
7,491
8967
2,868
2,820
5,803
7839
2,583
2,324
5,009
7684
2,856
2574
5,520
7653
3,247
3066
6,328
7691
3,691
3770
7,402
7771
3,584
3,609
7,410
7607
3,820
3961
7,386
8037
3,773
3787
7,476
7930
Prices, steel scrap, No. 1 heavy melting:
Composite
$ per Ig. ton..
Pittsburgh district
do .
98.07
101 50
92.17
96 17
104.58
10750
98.96
10350
83.11
8700
71.21
6950
73.77
7350
83.61
8850
92.38
9900
96.65
10450
98.21
10550
101.86
10600
96.34
10350
94.28
101 00
98.74
10900
Iron ore (operations in all U.S. districts):
Mine production
thous. Ig. tons..
Shipments from mines
do
Imports
do
85,716
86218
33,776
69,296
68639
25,058
6,677
2 100
1,087
6,054
6631
2,138
6848
9328
2714
6,415
7999
2638
5,326
7021
2,712
4,736
6052
2029
4,368
6211
2,062
5,024
6638
2,499
4,686
6587
2,348
5,913
6009
1,809
5,964
2800
1,292
6,052
1545
1,075
1 165
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
do
Consumption at iron and steel plants
do...
Exports
do....
115892
115,014
4,455
87 187
89398
5,073
2976
9,331
237
7569
8,891
644
10894
7975
653
9956
5768
551
9467
5456
284
7671
5644
650
8054
5953
484
8498
7,203
552
8323
7,895
309
7625
8,326
563
4 162
8,667
33
2686
8,126
2
3794
9293
64
do....
do
do....
do
55,753
11368
38,969
5416
56,066
14265
35,706
6095
49,013
25 132
21,645
2236
49,601
26833
20,237
2531
50,676
24355
23 100
3221
53,522
22771
27,242
3509
56,784
21073
31,176
4535
57,545
19757
32,953
4835
57,999
17914
35,009
5076
57,653
16289
36,131
5233
56,621
14,374
36,499
5748
56,066
14,265
35,706
6095
54,536
17,477
31,088
5971
53,154
21,990
25,554
5610
19,972
4078
do....
850
795
54
66
97
68
54
67
60
38
57
69
22
76
55
Pig iron:
Production (including production of ferroalloys)
thous. sh. tons..
Consumption
do....
Stocks end of period
do
86,975
87,458
881
68,722
69,190
884
7,115
7,038
880
6,677
6717
882
5,906
5926
889
4,664
4697
900
4,222
4,270
870
4,360
4392
888
4,596
4671
877
5,621
5,688
863
6,132
6,186
859
6,489
6,560
884
6,603
6,108
7,193
20300
203.00
20300
20300
20300
20300
20300
20300
20300
203.00
203.00
203.00
203.00
20300
20300
r
974
!5,434
r
7981
r
938
11,587
r
6321
1,000
1,155
r
600
r
839
r
917
r
r
787
r
862
r
r
793
r
742
r
r
817
r
833
r
r
851
r
940
r
534
r
891
1,102
r
605
r
932
r
946
r
r
938
r
873
r
942
1,034
562
965
991
535
r
54
r
715
r
r
41
r
461
r
r
43
r
47
r
r
35
r
44
r
r
31
r
r
31
r
r
28
r
r
30
r
r
35
r
r
39
r
r44
r
41
r
20
38
19
37
17
46
37
17
44
40
18
thous sh tons 136341
87.8
percent..
111 118
72.3
11 439
884
10658
830
9226
69.6
7501
584
6796
53 1
7019
54.8
7767
627
9442
722
10 180
77.8
10590
799
10028
837
r
606
1851
1.681
r
990
188
169
668
158
144
653
163
148
Iron and Steel Scrap
Production
Receipts net
Consumption
Stocks end of period
Ore
Stocks, total, end of period
At mines
At furnace yards
At U S docks
Manganese (mn. content), general imports
Pig Iron and Iron Products
Price, basic furnace
$ per sh. ton..
Castings, gray and ductile iron:
Orders, unfilled, for sale, end of period
thous. sh. tons..
Shipments total
do....
For sale
do.
Castings, malleable iron:
Orders, unfilled, for sale, end of period
thous. sh. tons..
Shipments total
do
For sale
do....
r
376
217
r
923
1r 082
565
21
481
491
445
37
19
491
28
12
30
15
34
15
41
18
529
491
r
36
16
Steel, Raw and Semifinished
Steel (raw):
Production
Rate of capability utilization
Steel castings:
Orders, unfilled, for sale, end of period
thous. sh. tons..
Shipments total
do...
For sale, total
do....
See footnotes at end of tables.
r
l,039
r
2,039
1.848
r
904
169
153
r
819
170
153
r
735
158
145
r
688
117
107
r
660
122
112
r
621
145
132
r
603
141
128
10057
79.5
r
609
133
121
r
606
148
135
11 744
886
Apr.
SURVEY OF CURRENT BUSINESS
May 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
S-29
1981
1980
Mar.
Annual
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
METALS AND MANUFACTURES—Continued
Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous. sh. tons..
By product:
Semifinished products
do....
Structural shapes (heavy), steel piling
do....
Plates
do....
Rails and accessories
do
100,262
83,853
^,496
5,596
9035
2026
5,342
5,207
8080
1 797
8,711
7,296
6,440
5,848
5,354
5,745
6,682
7,458
7,038
7,591
7,616
7,375
8,422
563
488
848
185
442
437
721
191
431
443
639
173
343
355
592
151
351
355
595
98
386
942
587
112
379
447
652
138
496
489
702
124
488
432
627
125
543
426
661
140
441
457
667
145
477
426
720
158
606
548
731
170
1 Oil
517
371
117
1 132
583
415
126
1036
571
340
120
1 037
564
348
119
1079
610
320
144
1 146
659
342
140
1334
764
407
156
739
136
426
2,756
988
1 104
789
146
432
3,149
1083
l'282
767
129
425
3,010
1 111
1 179
782
148
464
3,390
1 281
1325
793
150
474
3,410
1209
1368
776
153
473
3,046
1077
1 202
945
185
431
3,470
1 267
1344
Bars and tool steel total
Bars: Hot rolled (incl. light shapes)
Bars: Reinforcing
Bars* Cold finished
do
do....
do....
do
17601
9,958
5,303
2245
13258
6,911
4683
1585
1334
709
457
159
1 191
645
387
152
1 053
555
357
134
982
500
359
117
832
386
347
94
889
433
350
101
Pipe and tubing
Wire and wire products
Tin mill products
Sheets and strip (incl. electrical), total
Sheets- Hot rolled
Sheets: Cold rolled
do
do....
do
do....
do
do....
8242
2449
6310
43,507
15995
17284
9097
1 768
5709
33,595
12 116
13313
871
191
685
3,547
1338
1 394
756
167
466
2,925
1078
1 165
779
135
464
2,323
793
945
755
129
411
2,139
775
827
672
118
416
1,915
681
740
689
124
435
2,168
754
848
By market (quarterly):
Service centers and distributors
Construction, incl. maintenance
Contractors' products
Automotive
Rail transportation
Machinery, industrial equip., tools
Containers packaging ship materials
Other
do....
do....
do....
do
do .
do....
do
do....
18,263
10,058
4021
18624
4 127
6,027
6770
*32 372
16 174
8,787
3362
12 156
3 178
4566
5549
30082
4429
2,426
974
3662
1037
1,518
1 761
8544
367
308
353
352
358
348
335
330
31 2
297
302
308
115
7.6
96
6.9
113
7.3
11 5
7.6
12 1
7.4
12 1
7.2
11 9
6.9
11 4
6.8
103
6.6
96
6.7
96
6.9
96
6.9
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
period . .
mil sh tons
Consumers (manufacturers only):
Inventory end of period
....
do
Receipts during period
do....
Consumption during period
do....
3592
2,075
752
2580
855
1 170
1279
7281
3432
2,006
727
2440
582
882
1 192
6518
4,693
2,237
945
3473
702
1,003
1 325
7709
4,696
2,356
958
3591
753
1,261
1 470
8326
95
7.0
95
7.1
67
70
64
6.1
74
77
72
68
74
73
70
75
74
69
73
77
102
80.1
80.3
66
630
66.6
95
63
6.3
93
57
5.9
89
51
5.5
82
45
5.2
77
41
4.6
73
44
4.8
69
51
5.5
65
59
6.3
64
52
5.3
66
54
5.2
5,023
1399
5,130
1 377
434
115
421
113
438
111
425
106
427
102
426
113
419
124
437
128
427
122
439
118
445
do....
do....
570.6
201.0
567.7
71.3
478
6.9
454
5.6
42 1
6.0
51 7
6.8
403
44
407
4.4
430
3.7
41 4
7.2
299
4.8
783
5.2
55.8
5.8
55.7
8.9
756
7.5
do....
do
200.6
2657
715.0
3153
52.8
209
52.3
232
52.3
249
61.3
275
51.3
246
97.6
425
98.9
245
70.1
34 1
55.0
242
46.1
246
59.4
30 1
23.2
27 1
32.9
326
Price, primary ingot, 99.5% minimum .... $ per lb..
0.5940
0.6957
0.6600
0.6800
0.6800
0.6800
0.6800
0.6800
0.6933
0.7546
0.7600
0.7600
0.7600
0.7600
0.7600
14,537
11 241
6318
1999
14,083
10 443
5816
1581
1,274
958
494
166
1,180
926
489
143
1,135
884
498
125
1,093
788
497
107
1,104
800
462
91
1,177
820
468
111
1,196
858
483
123
1,232
911
494
138
1,018
798
435
127
1,206
1
868
r
492
126
r
l,090
r
883
r
511
143
1,071
855
485
136
r
4949
4910
4950
5021
5072
5026
4968
4942
5058
r
r
5221
5320
1 443.6
1 175.3
1300
1 515 4 r !2109
1333
14115 1 r121 9 1242
1039
890
91
1278
1453
131 3
140
1292
1623
151 2
11 2
120 1
155 1
1476
75
495
44 8
(3)
(3)
34 1
227
(3)
483
258
(3)
(3)
76.0
642
587
5.5
1020
902
827
7.5
116.8
121 1
1096
11.5
119.4
1260
1135
12.5
r
62
r
6.1
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. sh. tons..
Recovery from scrap (aluminum content)
do
Imports (general):
Metal and alloys, crude
Plates, sheets, bars, etc
Exports:
Metal and alloys, crude
Plates sheets bars etc
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.)
Mill products total
Sheet and plate
Castings
mil lb..
do
do
do....
Inventories, total (ingot, mill products, and
scrap) end of period
....
mil lb
Copper:
Production:
Mine, recoverable copper
Refinery primary
From domestic ores. .
From foreign ores
Secondary, recovered
as refined
thous. met tons..
do
do
do..
5 125
5060
(3)
5060
do....
575.6
573.0
55.8
53.0
55.1
52.7
26.6
33.6
33.4
60.8
45.1
36.9
38.9
52.8
do
do....
341 3
217.9
5203
431.8
69 1
532
386
323
507
375
317
275
26 8
247
386
348
428
39.1
642
59.2
558
460
443
36.8
417
24.7
39.0
29.4
290
21.8
do
308 8
805
330 1
174
23 6
19
25 5
15
34 0
15
30 4
20
39 2
19
39 2
09
20 8
04
25 3
05
25 2
10
22 9
34
36 2
29
32 1
2.5
387
5.8
2470
288
2083
365
678
345
0.9333
1.0242
1.0604
0.8857
0.8607
0.8738
mil lb
do
do
2 981
3048
593
2 405
2834
483
716
787
141
Lead:
Production:
Mine recoverable lead
thous met tons
Recovered from scrap (lead cont.) . .
do
5256
8014
551 0
659 1
500
596
490
59 1
500
51.2
463
57.1
435
46.0
41 7
522
393
560
485
502
396
58 1
59.6
1.358.3
52.1
1.048.2
2.2
90.0
3.2
83.8
4.4
84.1
7.8
77.2
2.0
68.2
4.2
79.5
6.5
95.6
4.6
103.0
3.7
92.5
6.0
11.1
0.7600
Imports (general):
Refined, unrefined,
scrap (copper cont )
Refined
Exports:
Refined
Consumption, refined
(by mills etc )
thous sh tons
Price, electrolytic (wirebars), dom., delivered
$ per lb..
530
480
0.9485
0.9348
0.9271
375
392
1.0356
1.0071
0.9886
500
365
0.9947
0.9698
0.8913
Copper-base mill and foundry products, shipments
(quarterly total):
Brass mill products
Copper wire mill products (copper cont )
Brass and bronze foundry products
Imports (general), ore (lead cont.), metal
Consumption, total
See footnotes at end of tables.
do....
do....
587
681
120
r
532
694
108
570
672
114
r
412
549
42 1
46.5
2.6
92.0
3.5
98.9
0.8803
S-30
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1980
Mar.
Annual
May 1981
Apr.
May
June
July
1981
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND
PRODUCTS— Continued
Lead—Continued
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content) ABMS
thous met tons..
Refiners' (primary), refined and antimonial
(lead content)
thous met tons..
Consumers' (lead content) U
do....
Scrap (lead-base, purchased), all smelters
(gross weight)
thous. met. tons..
Price common grade delivered
$ per Ib
1353
1196
1236
1373
1429
140.9
138.3
138.9
1424
136.9
1353
126.5
46 1
^IS.S
548
95.8
644
110.7
756
107.8
81 7
100.4
770
962
610
87.3
49 1
84.5
31.5
86.8
26 1
90.7
416
94.4
548
95.8
77.9
91.8
74 1
05264
412
04246
36.7
04922
34 1
04402
357
03600
392
03419
38.5
03560
35.5
04096
38.2
04226
38.9
04500
39.8
04381
42.1
03897
42.1
03379
Tin:
Imports (for consumption):
Ore (tin content)
metric tons..
Metal unwrought unalloyed
do
Recovery from scrap total (tin cont.)
do....
As metal
do
Consumption total
do....
Primary
do
4529
48354
21 493
5
1767
5
62 500
49000
842
45983
15,975
1845
5
57,000
43900
164
4585
1445
185
5750
4750
59
3877
1,305
150
5,300
4350
0
4364
1 175
155
4600
3700
0
4202
1,055
160
4,100
3250
0
3 131
1,015
125
3,700
3000
0
2736
1,230
175
3,900
3050
0
3095
1,220
155
4,150
3350
147
3688
1,370
155
4,300
3400
26
3738
1,175
120
4,050
3250
0
3805
1,265
150
3,750
3000
0
4790
1,195
145
4,300
3500
0
3327
3418
4238
7.5389
4293
r
5504
8.4600
353
7527
8.9860
322
5,443
8.7666
479
7263
86850
566
6592
8.5346
426
6544
8.4316
498
6,051
8.3922
227
5180
8.6898
180
5,208
8.4000
151
5086
7.9779
547
r
5,504
7.5956
415
5968
7.4876
233
5745
Exports incl reexports (metal)
Stocks, pig (industrial) end of period...
Price, Straits quality (delivered)
Zinc:
Mine prod recoverable zinc
Imports (general):
Ores (zinc content)
Metal (slab blocks)
do
do....
$ per Ib..
'1052
5
J
r
2673
3130
282
269
255
27 1
246
252
24 1
282
240
245
225.0
527 1
113.8
3290
1.8
10.2
295
9.4
29 1
9.4
212
16.3
208
15.6
30 1
8.6
32.3
2.1
383
8.5
45 1
13.6
520
do....
. do
79.7
3140
67.6
236 1
6.8
223
6.2
193
5.5
19 1
5.8
185
4.5
180
5.3
183
4.6
184
3.8
194
6.3
193
6.4
19 1
25.8
555
01
18.8
468
24.2
582
0.1
26.0
667
(2)
30.2
705
27.3
57.9
0.3663
919
7.0026
30.3
743
0.0
32.1
56.3
0.3573
0
3985
6.8358
6.4
191
290
610
03752
4400
3600
19.4
364
thous met tons
Consumption (recoverable zinc content):
Ores
Scrap all types
03506
246
do....
. do .
1227
1320
Slab zinc: @
Production total $
thous. met. tons..
Consumption fabricators
do
Exports
.
do....
Stocks, end of period:
Producers', at smelter (ABMS)
do....
Consumers'
do....
Price, Prime Western
$ per Ib..
5
525.7
10006
03
5
325.3
8170
03
31.5
828
(2)
29.1
74 1
(2)
55.8
59.1
0.3730
18.7
r
58.8
0.3743
29.0
72.1
0.3796
28.5
66.5
0.3801
(2)
33.5
668
0.3750
38.9
609
0.3644
(2)
38.2
57.5
0.3550
28.1
746
(2)
27.1
723
(2)
(2)
21.3
58.6
0.3726
18.7
57.8
0.3858
18.7
r
58.8
0.4059
16.7
57.1
0.4119
10.8
484
6.0
51 7
313
285
(2)
(2)
17.0
19.0
0.4125
0.4130
6.4256
MACHINERY AND EQUIPMENT
Heating, combustion, atmosphere equipment, new
orders (domestic) net qtrly #
.
mil $ .
Electric processing heating equipment
do....
Fuel-fired processing heating equip
do
3726
105.5
1604
Material handling equipment (industrial):
Orders (new), index, seas, adj
1967—100..
4194
Industrial trucks (electric), shipments:
Hand (motorized)
number..
Rider-type
.
do....
Industrial trucks and tractors (internal combustion
engines) shipments
number
Industrial supplies, machinery and equipment:
New orders index, seas, adjusted
1977—100..
Industrial suppliers distribution: t
Sales index seas adjusted
1977 — 100
Price index, not seas. adj. (tools, material
handling equip., valves, fittings, abrasives,
fasteners metal products etc )
1977 — 100
Fluid power products shipments indexes: *
Hydraulic products, seas, adj
1972—100..
Pneumatic products seas adj
do
r
395
19.4
200
849
18.9
373
3755
408.8
3634
3835
3363
3554
3315
453.4
371 1
340.6
3848
3837
24,183
28654
20,495
24 110
2,097
2568
1,860
2330
1,910
2 178
1,502
2251
1,511
1577
1,396
1,647
1,913
1947
1,624
1839
1,512
1658
1,521
1712
1,129
1490
1,443
1527
55782
39448
5016
4 130
3353
3875
2073
1972
2590
2878
2636
2562
2687
2667
132.1
109.8
118.1
116.1
108.2
102.6
102.6
100.5
100.2
103.3
109.2
112.0
111.6
1138
1296
1345
1363
140 7
138 7
132 2
1322
1342
131 4
135 7
1327
128 1
1389
135 6
138 9
1174
1312
1269
1295
1306
1320
1329
1332
1339
1346
1353
1363
1378
1394
1408
272
235
272
234
285
231
298
237
274
232
259
218
284
236
244
218
246
225
253
251
240
233
255
259
245
248
262
245
260
253
mil. $.. r 4,495.10
do.... 3 865 80
do
2 930 05
do.... 2,605.50
do
45457
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
1097
23.3
567
3,884.75
3 495.50
3 680 80
3,206.00
47497
420.80 354.30
374.35 325.10
36680 25885
321.20 224.05
4872 1 49676
373.60
35005
28365
240.70
50576
414.20
379 15
38285
337.75
50890
267.60
25065
24805
211.50
5 1086
165.05
14895
24465
223.50
50290
295.65
25945
33775
292.80
49869
28655
26305
352 15
295.10
49213
275.00
25395
31865
271.45
48776
245.00
20725
37280
314.50
47497
6045
4620
9100
8295
5857
43 00
3320
9275
7905
5359
3695
3045
7890
6770
4939
5940
51.30
6625
5360
4870
79 15
72.45
7345
66.10
4927
43 45
3740
8765
7240
4485
5405
44 15
81 50
69.45
421 1
54 15
4405
9050
7795
3848
74 45
6845
8025
6730
3790
4
1691
4
do
do....
. . . do ...
do....
do
Tractors used in construction, shipments, qtrly:
Tracklaying total
units..
mil. $..
Wheel (contractors' off-highway)
units
mil. $..
Tractor shovel loaders (integral units only),
wheel and tracklaying types...
... units..
mil $..
Tractors, wheel, farm, nonfarm (ex. garden and
construction types), ship., qtrly
units..
mil. $..
6
1 047 60 77695 10785
919.90
93.40
664.95
94650 1 010 95 9320
859.80
878.55
81.15
6188
3848
6429
5760
50.35
8420
73.25
6163
19812
1,322.2
5 146
417.1
16460
1,272.9
4786
3875
4830
356.5
1 128
98.3
4518
340.4
1441
1145
3824
293.0
1 265
101.1
45496
1,696.2
16050
535.4
11 102
465 1
9340
358.2
147 385
3,113.7
48854
868.0
38475
785.5
27750
580.5
32306
879.7
64 45
5690
86 85
7265
356 6
P
56
P
90
5255
103 40
P
75 10
P
310 1
P
9004
3376
201 453
3,424.2
206.55 r212 80 P293 85
18630 r!79 90 P255 20
30870 r335 30 P375 20
270.70 r279.75 "313.40
r
4 647 6 r4 525 0 P4 443 7
3288
283.0
952
736
55314
1,758.1
273
240
136.1
4
11937
4
287.8
ELECTRICAL EQUIPMENT
Batteries (auto.-type replacement), ship
thous..
53,746
50,063
Radio sets production, total market
Television sets (incl. combination models),
production, total market
thous..
40029
28,104
3
thous..
16,616
17,508
3
See footnotes at end of tables.
3,197
3,049
3,525
4,564
5,741
6,249
5,361
2463
2,607
2,365
3
3,792
2540
2931
3
1,785
1,174
1,301
3
1,668
1,684
3
3,014
2,765
1923
1536
2317
3
1,492
1,156
1,265
3
1,980
5,520
4,820
2 149
2243
1,765
1,560
3,548
r
3,331
1855
!986
1,518
r3
1,895
1,376
SURVEY OF CURRENT BUSINESS
May 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1980
Annual
S-31
Mar.
Apr.
May
June
July
1981
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
METALS AND MANUFACTURES—Continued
ELECTRICAL EQUIPMENT—Continued
Household major appliances (electrical), factory
shipments (domestic and export) #
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 (qtrly.)
do .
33,162
3749
3488
3317
3000
5701
1858
4,965
3551
8674
30259
3204
2738
2960
2*530
5 124
1681
4550
3 177
7439
r
2847
r
436
277
r
294
215
r
434
152
r
422
283
2 183
2608
416
232
264
211
409
128
374
241
2238
344
168
164
199
396
151
317
197
2422
316
189
194
192
453
192
340
196
1939
2,711
566
184
199
189
477
182
345
227
2,391
94
212
229
191
464
180
397
257
2,478
66
261
234
206
476
146
401
285
1948
2,877
90
297
343
257
519
123
468
333
2,234
125
204
256
208
371
74
331
284
2,131
203
198
223
185
295
89
302
238
1370
2,566
226
242
280
218
408
91
408
297
2,531
370
205
274
198
364
122
365
244
2975
623
228
317
197
424
142
408
260
122
151
262
87
122
257
71
123
210
83
132
215
94
93
199
123
119
208
147
138
237
174
143
271
144
121
218
131
141
246
136
114
260
r
!23
r
l!8
242
120
146
286
GAS EQUIPMENT (RESIDENTIAL)
Furnaces gravity and forced-air shipments thous
Ranges, total, sales
do....
Water heaters (storage), automatic, sales @
do....
1863
1,799
2.887
1 446
1,538
2.818
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production
Exports
. .
Price, wholesale *
.
.
thous. sh. tons..
do
Index, 1967-100..
Bituminous:
Production
thous. sh. tons..
Consumption, total
Electric power utilities
Industrial, total
Coke plants (oven and beehive)
Residential and commercial
do....
do
do....
do
4,835
1233
411.0
5,400
1795
463.7
776,299
830,000
460
67
4357
510
145
459.7
500
143
459.7
495
184
4597
525
273
462 1
425
286
4698
400
96
4782
460
248
4796
425
80
491 1
380
57
4979
297
65
5087
538
8
5368
565
114
5366
72,120
66155
69,790
77,268
8 169
4738
5727
4757
6762
4782
9593
4787
67
101
54
132
3,675
6328
1,789
6152
2,462
8429
3,102
8430
69,871
70399
71,355
60700
70240
72060
75,750
65,505
677,286
526 005
144 150
77009
58,557
46601
11497
6405
52372
40622
11270
6230
52598
41378
10*930
6 111
55,881
45731
9921
5317
62908
53489
9 190
4893
62631
53 134
9280
4867
57 146
47829
9029
4785
45 Oil
45642
5099
5 142
7 131
459
480
290
229
229
217
543.9
288
do
do
do.. .
do....
do....
178 440
156 440
21,660
10,028
do
Index, 1967—100..
64783
451.1
89882
r
466.5
5565
461 6
7 414
4644
8449
4659
8711
4659
7972
4667
8944
4678
8266
4702
9204
4696
8905
4740
thous. sh. tons..
do ...
*52,943
27455
46,132
27094
4,444
2274
4,396
2 163
4,238
2262
3,686
2246
3,370
2402
3,387
2318
3,295
2244
3,470
2 186
3,565
2203
3683
2329
Stocks, end of period:
Oven-coke plants, total
At furnace plants
At merchant plants
Petroleum coke
do....
do
do....
do....
5,185
4590
595
1,042
8,627
7521
1 106
857
5,832
5 150
682
1,342
6,063
5315
748
1,327
6,698
5850
847
1,111
7426
6488
938
1 137
8,133
7095
1038
1,167
8676
7612
1063
1,151
9018
7907
1 112
1042
9011
7889
1 123
974
9040
7833
1 207
1001
8627
7521
1 106
857
Exports
do....
1,545
2,162
189
253
229
226
199
246
207
260
156
26,962
r
5564
2,390
5228
1,841
5339
2,061
540 1
2,232
5490
2,068
5514
2,340
5668
2,636
5713
2,409
5796
2,239
6006
54587
85
50484
76
4340
78
4129
76
4234
75
4217
77
4219
74
4123
73
4079
74
4030
71
403 4
73
4327
75
68032
62365
5532
5204
5205
511 4
5009
4984
4908
5078
4952
5290
3 1213
594.2
3 1465
589.7
270 1
50.2
2606
50.3
2678
49.7
2564
48.2
2652
48.2
261 1
48.2
2586
46.8
2646
47.8
2550
48.4
2669
49.5
141.4
504
157.1
555
Stocks end of period total
Electric power utilities
Industrial, total
Oven-coke plants
Exports
Price, wholesale
(2)
172 966 180 286 189 929 195 147 181 715 181 333 189 844
154 138 160 991 170 319 175 121 162 896 162 792 170 777 177 564 179 472
18,828 19,295 19610 20026 18819 18541 19067
7,829
8,386
9,872
9,653
9,534
9,263
8,445
8,563
8,175
r
4838
COKE
Production:
Beehive and oven (byproduct)
Petroleum coke §
PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed
number..
Price wholesale
Index 1967—100.
Gross input to crude oil distillation
units
mil bbl
Refinery operating ratio
% of capacity..
All oils, supply, demand, and stocks:
New supply total
fl
Production:
Crude petroleum
Natural gas plant liquids
Imports:
Crude and unfinished oils
Refined products
Change in stocks, all oils (decrease, —)
Demand total
Exports:
Crude petroleum
Refined products
mil bbl
19,346
3765
do
do....
do
do
24009
686 8
4
19304
569 9
1810
51 8
1685
41 0
1599
43 1
166 5
403
145 1
42 4
1470
42 1
C
1423
432
C
1468
486
r
55.7
53.2
2.4
24.1
21.1
23.3
14.8
23.7
-2.4
-16.8
4.2
-38.6
69302
6 422 5
556 5
515 4
518 2
506 0
5113
497 4
513 1
5428
5173
5883
857
86.1
1039
94.3
100
75
65
72
95
82
110
86
24
7.5
96
71
96
89
87
78
106
8.7
4875
2073
43
4964
1965
39
5242
2078
45
5008
188 1
37
5690
206.2
73
111
do....
do
r
do
do....
do
do ..
do
67583
25815
686
62243
24207
582
5389
1997
54
501 7
2049
42
500 4
2097
35
486 4
2010
36
74
91
494 8
2100
36
Distillate fuel oil
Residual fuel oil
Jet fuel
do.. .
do
do....
1,209 7
10316
392.7
10486
9124
391.1
983
82 1
346
789
730
33.2
744
692
315
699
697
317
690
709
344
662
709
32.3
708
31.7
905
689
32.1
875
729
309
113.0
85 1
33.6
Lubricants
Asphalt
Liquefied gases
do....
do
do
65.5
1720
5810
58.3
1426
5328
50
68
48 1
51
84
358
46
130
377
46
162
365
43
18 2
357
43
17 8
355
49
17 3
396
55
158
490
47
102
460
48
73
542
1 340 9
4303
3
912
4
132.0
4
778.6
13953
4655
1078
141.0
788.8
1 341 9 13659
4705
4529
912
912
139.9
131.2
755.5
757.8
1387 1
475 1
91 2
147.2
764.8
1 448 9 14465
4688
4788
928
91 2
149.7
148.2
828.0
821.9
14297
475 1
96 6
149.0
805.6
14339
475 1
1023
143.3
815.4
13953
4655
1078
141.0
788.8
Domestic product demand total #
Gasoline
Kerosene
.
Stocks end of period total
Crude petroleum
Strategic petroleum reserve
Unfinished oils, natural gasoline, etc
Refined oroducts
See footnotes at end of tables.
do
do.. .
do
do....
do....
4
1 410 4 14252
4705
4732
91 2
91 2
149.5
149.4
805.2
787.8
2,905
8426
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1981
1980
Mar.
Annual
May 1981
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products:
Gasoline (incl. aviation):
Production
Exports
Stocks end of period
.
. ..mil bbl..
do
do
Prices (excl. aviation):
Wholesale, regular
Index, 2/73=100..
Retail, regular grade (Lundberg/Platt's): fl
Leaded
$ per gal..
Unleaded *
do....
Aviation gasoline:
Production
. . .
mil bbl.
Stocks, end of period
do....
Kerosene:
Production
do....
Stocks end of period
do
Price, wholesale (light distillate)
Index, 1967=100..
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=100..
2,514.6
02
2
2399
2,394.0
05
2642
203.5
(i)
2858
(!)
(!)
201.7
01
263.8
(!)
262.2
192.4
02
261.0
(*)
2660
198.1
(i)
2675
(!)
2750
249.1
259.7
264.2
367.6
576.7
560.4
585.4
595.5
598.6
601.1
602.9
599.6
591.5
590.8
4
189.5
196.6
201.4
(!)
191.2
194.9
206.9
r
596.1
607.2
332.1
682.3
1.220
1.268
1.233
1.281
1.278
1.326
1.372
1.421
1.384
1.435
1.0
2.8
931.1
971.0
1,039.3
1,079.6
891.1
935.2
998.5
1,081.2
1,105.2
473
515
30.7
31.8
26
19
938
903
1,017.3 1,166.9
1,201.5
1,237.4
1,305.1
1,315.2
0.878
0.919
1.217
1.261
1.226
1.266
1.229
1.270
1.234
1.276
1.237
1.279
1.235
1.278
1.233
1.278
1.221
1.268
1.217
1.265
137
2
2.7
12.8
2.8
1.3
3.0
1.0
3.1
1.0
2.9
1.0
2.8
1.3
2.9
1.4
3.0
0.9
2.7
1.1
2.6
0.9
2.6
66.8
158
50.3
116
4.7
13 1
4.3
134
3.6
138
3.5
139
3.8
143
3.3
133
3.6
129
3.8
124
3.9
127
539.6
'863.4
834.6
862.5
870.5
878.4
892.7
903.1
903.2
896.3
896.8
1,150.8
71 8
1.1
228.7
974.9
508
1.2
205.1
79.5
55
0.6
177.7
73.9
44
01
177.0
76.6
39
79.4
32
76.3
24
80.3
36
(»)
225.7
223.3
573.9
850.6
837.7
873.4
6156
420.1
32
95.6
684.5
577.1
336.6
122
90.3
r
961.2
5.2
11 6
r
81.0
40
226.3
80.6
30
(*)
232.3
(!)
(!)
183.1
195.8
83.4
36
0.1
213.8
858.9
864.8
860.9
870.2
875.6
873.7
868.4
49.0
30.1
01
88.3
979.3
477
23.1
12
85.2
933.2
467
25.2
06
87.6
870.0
472
22.5
04
87.7
853.7
45.9
24.4
19
85.6
944.5
448
27.1
01
86.9
953.7
44.9
27.2
06
87.9
956.2
469
27.0
22
91.0
943.8
(')
911.4
89.7
52
0)
0)
205.1
r
Jet fuel:
Production
Stocks, end of period
mil. bbl..
do....
369.2
38.5
365.6
42.0
32.0
38.7
30.7
39.3
31.0
41.3
30.1
42.3
302
40.9
29.7
40.3
312
42.2
303
43.2
297
43.9
298
42.0
Lubricants:
Production
Exports
Stocks end of period
do.. .
do....
do
71.0
8.6
125
65.1
8.6
135
56
1.1
119
56
0.8
11 8
58
0.9
125
53
0.9
123
58
0.8
133
50
0.6
136
54
0.6
137
53
0.6
132
50
05
132
54
06
135
Asphalt:
Production
Stocks, end of period
do.. .
do....
168.8
18.9
141.2
18.8
11 1
31.5
10.7
33.8
12.0
32.9
13.4
30.2
14 1
26.2
139
22.5
138
19.1
126
16.1
109
17.0
91
18.8
Liquefied gases (incl. ethane and ethylene):
Production total
At gas processing plants (L.P.G.)
At refineries (L R G )
Stocks (at plants and refineries)
do
do....
do
do....
5680
443.9
124 1
2
110.7
5645
443.6
1209
125.0
486
38.0
106
90.3
470
37.0
100
100.0
463
36.2
10 1
107.6
458
358
100
116.8
46 1
359
102
125.5
467
36.7
100
134.7
447
35.2
94
137.1
475
382
93
134.5
465
367
97
132.1
487
380
107
125.0
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
Consumption
Stocks end of period
thous. cords (128 cu ft )
do....
. .
do
3
76
3
81802
80,522
6285
6895
7044
5555
6677
6762
5464
6800
6,811
5425
7365
6,969
5715
6782
6356
6 114
6893
6,719
6310
6722
6,601
6349
6878
6,779
6396
6408
6710
6 123
6480
6,234
6285
6832
6,700
6336
6378
6477
6210
12,694
818
1 083
573
1 035
607
1054
668
1,050
672
957
743
1051
727
1,051
747
1,153
790
1068
763
1070
r
831
1 109
825
1044
855
4496
134
3446
158
394
364
4243
134
3238
152
375
345
4 447
138
3 403
'l61
395
351
4307
126
3 297
156
386
342
3965
111
3 049
130
369
306
4334
129
3 324
150
397
335
4 186
94
3 216
160
388
328
4319
124
3 292
164
411
328
4224
123
3 236
157
r
366
r
341
3851
126
2 867
155
393
311
4355
116
3 305
'l67
420
348
4 123
115
3 133
'l54
395
325
944
439
449
r
57
1 031
542
433
57
1 110
*567
479
64
887
77,362
5430
Waste paper:
Consumption
Stocks end of period
WOODPULP
thous. sh. tons..
do
3
Production:
Total, all grades #
Dissolving and special alpha
Sulfate
Sulfite
Groundwood
.
Semichemical
thous. sh. tons..
do ..
do
do....
do
do....
3
Stocks, end of period:
Total all mills
Pulp mills
.
Paper and board mills
Nonpaper mills
.
. .
12,915
636
50,612
1447
35553
1,829
4667
3,854
do
do
do....
do
Exports all grades, total
Dissolving and special alpha
All other
do .
do....
do
Imports, all grades, total
Dissolving and special alpha
All other
do....
do....
do....
r
930
364
507
59
944
439
449
57
867
355
450
62
922
385
471
66
976
420
485
72
971
435
462
74
982
461
453
68
1 034
493
479
62
960
454
452
54
960
467
440
54
1r042
542
r
446
54
2935
764
2 170
3806
769
3037
321
91
230
360
84
276
317
58
259
362
79
283
356
73
283
385
70
315
313
60
252
341
52
289
247
52
195
322
52
270
291
67
224
279
61
218
356
83
272
4,318
155
4,163
4,051
194
3,858
445
13
432
320
24
296
373
13
360
336
29
307
285
10
276
344
21
323
300
10
290
298
12
286
323
24
299
334
10
324
380
23
356
355
9
346
368
22
346
66,608
30012
30,936
144
5.516
64,792
29705
30,820
137
4.131
5,748
2661
2,706
13
368
5,329
2523
2,497
10
298
5,422
2531
2600
8
284
5,289
2394
2592
9
296
4,945
2228
2,395
8
314
5,299
2382
2,561
10
346
5,314
2382
2560
13
359
5,720
2614
2,702
13
391
5,342
2413
2,570
13
346
r
5,221
r
2474
r
5,646
2617
2675
12
342
5,313
2437
2499
17
361
3
3
3
3
r
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....
See footnotes at end of tables.
694.6
2,406
13
1
328
SURVEY OF CURRENT BUSINESS
May 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1980
Mar.
Annual
S-33
Apr.
May
June
July
1981
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS— Cont.
Paper and board —Cont.
Producer price indexes:
Paperboard
1967—100.
Building paper and board
do....
202 1
182.4
2352
206.1
227.4
198.7
232 1
201.3
2392
206.8
2389
208.9
237 1
211.8
2384
210.3
2395
210.2
2399
212.7
Selected types of paper (API):
Groundwood paper, uncoated:
Orders, new
Orders, unfilled, end of period
Shipments
thous. sh. tons..
do....
do
1,519
149
1509
4,495
115
4500
136
179
132
116
170
127
105
136
132
115
119
127
118
119
116
135
129
125
120
125
121
Coated paper:
Orders, new
Orders unfilled end of period
Shipments
do....
do
do ..
4,547
385
4,527
^JGl
391
4,669
373
378
415
403
405
377
410
360
380
357
344
364
400
405
340
384
404
378
Uncoated free sheet papers:
Orders new
Shipments
do
do ..
7826
8 189
'7663
^.SOO
682
753
652
714
628
710
579
678
580
614
Unbleached kraft packaging and industrial
converting papers:
Shipments
thous sh tons
3934
'3788
346
319
325
299
Tissue paper production .
4506
M353
398
372
378
340
8756
8,780
162
8625
8,622
165
782
210
766
763
214
767
774
207
717
732
192
3685
3,689
16
4239
4,234
21
358
351
30
339
346
23
368
365
26
Consumption by publishers
fl
do
Stocks at and in transit to publishers, end of
period
thous metric tons
6673
6586
582
545
569
628
732
683
724
Imports
thous sh tons
Price, rolls, contract, f.o.b. mill, freight allowed
or delivered
Index, 1967—100..
7223
7279
685
631
279.3
269.4
2694
'30 995
2 in
243,228
(2)
(2)
21,466
.
.
do
Newsprint:
Canada:
Production
. . thous metric tons
Shipments from mills
do.. .
Stocks at mills end of period
do
United States:
Production
Shipments from mills
Stocks at mills, end of period
.do
do....
do....
Paperboard (American Paper Institute):
Orders new (weekly avg )§
thous sh tons
Orders, unfilled
do
Production total $
do
249.4
613
1 393
31 429
Paper products:
Shipping containers, corrugated and solid fiber
shipments
mil. sq. ft. surf. area.
250 643
Folding paper boxes, shipments.... thous. sh. tons..
mil. $..
2,716.0
2.416.7
3
111
r
241 7
215.6
241 1
219.1
2510
219.1
139
135
130
123
124
121
114
115
123
142
122
130
r
l!5
424
415
134
135
125
384
385
389
426
398
421
378
396
394
397
391
405
393
364
425
r
376
352
390
426
338
443
591
669
596
658
733
722
611
657
618
671
r
689
r
r
597
r
651
681
737
282
306
311
328
302
293
322
r
309
345
323
351
356
369
367
345
372
r
349
390
601
640
154
692
662
183
651
642
192
735
735
192
708
691
208
691
735
165
751
695
221
702
684
238
766
769
235
356
346
36
341
350
27
374
371
30
353
350
32
377
381
28
358
346
40
338
357
21
379
374
26
356
357
25
399
395
29
538
498
533
534
583
592
576
749
806
793
793
782
763
696
732
768
807
826
648
641
550
546
584
588
568
596
584
277.6
283.7
283.7
283.8
283.8
283.8
298.3
2570
2661
2608
2393
2592
2526
2681
2622
2310
20,636
19 150
19 115
18,456
19,345
21,054
23,229
18,849
19,313
49.48
12952
50.26
123 14
50.31
r
2532
225.2
r
686
r
2559
227.3
587
620
301.9
301.9
2538
2857
21,161
20,044
21,383
48.69
12667
48.76
12796
52.34
12539
45.06
30.06
86.64
53.38
0.730
0.713
0.690
0.860
(2)
(2)
r
2710
r
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
Stocks end of period
73.96
38.90
55.26
44.46
38.49
31.37
55.92
31.77
0.730
0.733
0.723
0.690
0.685
0.673
0.680
0.728
0.790
2,009.04 206.77
1 854 00 19106
192.40
14889
159.57
13573
129.64
120 14
110.29
131 03
12367
13373
149.76
16597
174.59
16786
178.45
15770
193.69
155 13
193.52
16234
169.68
16629
Imports, incl. latex and guayule ....thous. Ig. tons..
747.68
Price, wholesale, smoked sheets (N.Y.).... $ per lb..
0.651
2 534.50
2 340 62
4125
14739
43 16
13850
r
.
Exports (Bu of Census)
40286
341 77
42756
452 15
44508
42922
391 19
37233
33973
32535
32887
341 77
36400
354 11
385 10
42278
41 98
41 68
4688
3733
3654
3046
2551
3345
3072
3231
31 21
31.65
38.73
thous..
206,687
159,263
15082
13,678
11,370
10,716
10,206
12,057
13,911
15,790
12,861
13,346
15,463
15,641
16,834
do
do
do
do
Stocks end of period
213 929
58 072
150 781
5077
177 063
40227
131 271
5565
15 180
4 208
10443
528
15558
3 271
11791
496
14056
3 131
10505
419
15301
3073
11 786
442
42,817
13457
2217
10817
423
15537
2521
12566
450
17564
3 615
13*497
452
18034
4 304
13*133
597
13305
3376
9499
431
12926
2707
9767
452
15,622
3228
11,916
478
14,323
3206
10,537
580
18,617
4301
13,607
709
40,079
572
37,057
33,730
32,112
32,363
33,298
40,188
43,258
43,686
618
657
885
638
691
946
797
1,081
1,055
441
458
265
464
226
314
317
206
358
335
do
thous Ig tons
TIRES AND TUBES
Pneumatic casings, automotive:
Production
Shipments total
Original equipment
Replacement equipment
Exports
.
Stocks, end of period
do....
44,873
33,298
50,471
Exports (Bu. of Census)
do....
6,572
9,058
1,098
49,220
863
46,972
787
do....
3.576
4.557
420
438
328
Inner tubes, automotive:
Exoorts (Bu. of Census)
49.38
13290
598.31
586.15
12667
thous. metric tons..
do
3884
14989
4685
15242
73900
132 12
Synthetic rubber:
Production
Consumption
4233
14570
5569
141 36
thous. metric tons.
do
.•
See footnotes at end of tables.
0.690
S-34
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1980
Mar.
Annual
May 1981
Apr.
May
June
July
1981
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
28,181
20665
20782
Mar.
Apr.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments finished cement
thous bbl
'451,383
M02 825
26,005
33011
36,324
39,314
39,840
39,644
40,489
43,303
31824
4394
6.9
406
5050
7.1
508
5208
7.6
520
5584
7.6
533
5880
9.1
715
574.0
8.9
767
6255
9.4
787
681.0
9.7
965
5279
10.3
735
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
mil standard brick
Structural tile, except facing
thous. sh. tons..
Sewer pipe and fittings vitrified
do
Facing tile (hollow), glazed and unglazed
mil brick equivalent
Floor and wall tile and accessories, glazed and
unglazed
mi. sq. ft..
Price index, brick (common), f.o.b. plant or N.Y.
dock
1967= 100..
7708 1
59.0
8553
r
6 335 2
101.6
r
7218
454
41
34
46
46
42
30
38
42
r
297.6
26.7
24.1
24.3
24.6
24.1
24.4
26.1
25.9
21.1
263.1
r
276.2
280.9
281.7
281.7
281.7
280.7
281.6
285.9
286.3
4634
9.7
r
455
32
312.8
r
540
280.8
3948
6.4
357
36
27
23.1
20.2
286.3
291.1
290.5
25 603
24877
23061
22768
r
r
300.3
GLASS AND GLASS PRODUCTS
191,757
210,895
858,130
868,914 220,279
321 999
322 092
28572
27154
26615
27068
27329
28625
26476
29 145
25054
20656
317 829
317041
28578
24925
25630
27654
28495
28829
30064
26558
23 153
23096
26686
54995
113,875
26 111
27969
57705
116,267
24591
2749
4887
9,614
2213
2338
4516
9,229
1 750
2295
5 109
9,867
1858
2392
5502
11,068
2 149
2300
6076
11,254
1873
2728
5,683
10,793
2032
2781
5662
10,343
2278
2 157
4,776
9,433
2478
1768
3932
8,651
2034
1 787
4 198
8,159
2 119
2089
3951
7,471
2013
2 126
3719
7,864
1908
Wide-mouth containers:
Food (incl. packer's tumblers, jelly glasses,
and fruit jars)
thous gross
66517
61 167
6267
4489
4251
4283
4812
5241
6306
5 149
4673
4935
5046
4774
Narrow-neck and wide-mouth containers:
Medicinal and toilet
Chemical, household and industrial
do .
do....
25,856
3,789
26,117
3,225
2526
322
2,379
224
2028
222
2,017
243
1876
304
2,099
253
2,369
325
2,305
260
1,898
197
1709
189
2205
286
2 132
245
do
45935
48 177
50323
52488
52913
52828
51372
50285
46574
48825
50302
48 177
50433
52031
1
14,630
1
14 543
12,479
11485
963
926
946
874
920
826
980
869
1,019
964
1,050
984
1,106
1032
1248
1064
1,028
968
Flat glass, mfrs.' shipments
thous. $..
Glass containers:
Production
thous gross
Shipments domestic total
Narrow-neck containers:
Food
Beverage
Beer
Liquor and wine
do
do
. . do .
do....
do
Stocks end of period
245,983
r
GYPSUM AND PRODUCTS
Production:
Crude gypsum (exc. byproduct) .... thous. sh. tons..
Calcined
do
1 081
924
987
1 026
892
885
Imports crude gypsum
do
7773
7365
636
477
607
597
617
625
595
493
719
590
721
487
Sales of gypsum products:
Uncalcined
do...
5,596
'5,544
344
410
459
575
413
428
607
529
493
531
309
306
Calcined:
Industrial plasters . . .
Building plasters:
Regular basecoat
All other (incl. Keene's cement)
Regular gypsum board
Type X gypsum board
Predecorated wallboard
5/16 mobile home board
.
379
409
39
34
32
30
33
36
34
40
31
31
30
33
121
283
217
161
20
13
19
14
18
14
19
13
18
13
19
13
18
13
20
15
14
11
15
13
16
13
17
12
mil. sq. ft..
do
do....
do
Board products, total
Lath
Veneer base
Gypsum sheathing
do
do
do....
16,865
125
444
218
14,131
78
339
190
1,110
7
25
14
1,131
6
25
13
1,021
6
25
13
1,090
7
25
15
1,166
6
27
17
1,203
5
29
17
1,258
6
31
18
1365
5
31
20
1,108
5
27
17
1 149
5
29
16
1,260
7
31
17
1068
6
24
14
do
do....
do
do....
12556
3,272
249
(5)
9923
3,266
105
229
783
254
g
19
789
273
9
16
711
243
8
14
753
266
8
15
807
281
9
18
840
278
10
25
879
289
10
24
961
310
11
27
784
246
8
20
809
265
8
16
884
293
10
19
734
260
9
21
TEXTILE PRODUCTS
FABRIC
Woven fabric, finishing plants: *
Production (finished fabric)
Cotton . .
Manmade and silk fiber
mil. linear yd..
do
do....
8,065
3 107
4,957
8,420
3531
4,990
710
388
422
3
866
3
346
3
520
662
274
388
650
277
374
3
588
3
252
3
336
602
248
354
641
268
373
3
825
3
340
3
485
639
251
388
736
286
450
629
244
385
687
265
421
Inventories held at end of period
Cotton
Manmade and silk fiber . . .
do
do....
do
828
351
477
769
339
430
800
340
459
818
350
468
806
342
463
780
340
440
788
346
442
795
353
442
111
332
445
800
346
454
867
356
451
769
339
430
r
785
r
341
r
799
344
455
Backlog of finished orders
Cotton
Manmade and silk fiber
do....
do
do....
9,408
4,838
4,569
8,495
4577
4,219
833
440
393
826
433
393
774
399
376
691
354
337
679
346
333
694
363
331
660
343
317
681
347
334
696
365
331
660
342
318
r
790
r
428
r
792
417
375
2
14,262
2
2
10,824
2
444
362
COTTON
Cotton (excluding linters):
Production:
Ginnings 1J
thous. running bales..
Crop estimate
thous net weight bales §
Consumption
thous running bales
Stocks in the United States, total, end of period #
thous. running bales..
Domestic cotton, total
do....
On farms and in transit
do....
Public storage and compresses
do....
Consuming establishments
do....
See footnotes at end of tables.
14 629
6 140
12,933
12,929
3,937
8,160
832
4
200
4
581
4
1311
4
4,603
4
7843
4
9925
11 124
6 135
9,261
9,260
2,502
5,927
831
513
8,129
8,123
1,803
5,252
1,068
3
622
6,592
6,586
1,376
4,081
1,129
496
5,187
5,182
962
3,124
1,096
478
4,014
4,012
671
2,341
1,000
3
487
3,027
3,026
250
1,822
954
443
13,290
13,288
10,890
1,509
889
456
12,443
12,441
10080
1,578
783
3
597
10,948
10,946
7024
3,180
742
458
10,271
10,270
4451
5,070
749
3
475
435
9,261
9,260
2,502
5,927
831
r
8,328
r
8,326
r
!534
r
5,846
r
946
r
446
535
7,201
7,200
1 054
1,509
1,037
5,933
5,933
670
4,165
1,098
301.1
SURVEY OF CURRENT BUSINESS
May 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1980
Mar.
Annual
S-35
Apr.
May
June
July
1981
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
TEXTILE PRODUCTS—Continued
COTTON AND MANUFACTURES— Cont.
Cotton (excluding linters) — Continued
Exports..
thous. running bales.
Imports
thous. net-weight bales §..
Price (farm), American upland fl cents per lb..
Price, Strict Low Middling, Grade 41, staple 34
(1-1/16"), average 10 markets
cents per lb..
Spindle activity (cotton system spindles):
Active spindles, last working day, total
Consuming 100 percent cotton
Spindle hours operated, all fibers, total
Average per working day
Consuming 100 percent cotton
1 150
1
64.8
916
0
63.3
o
66.8
686
(7)
62.8
540
2
74.9
402
0
80.1
393
2
81.4
237
1
75.3
436
5
77.6
541
5
80.9
669
1
76.9
2 352
6
71.4
733
8
72.3
71.5
79.2
79.0
78.3
72.4
79.0
85.6
87.5
85.8
87.0
87.2
85.1
83.3
81.5
15.9
6.0
102.4
0388
420
16.3
6.3
8.3
0414
33
16.3
64
10.0
0402
4
41
16.2
64
8.1
0403
33
16.1
63
7.9
0393
32
16.0
62
4
8.2
0329
43 4
16.1
62
7.6
0378
32
15.7
62
7.3
0367
32
161
61
10.0
0398
44 i
16.0
60
8.0
0399
34
15.9
60
8.3
r
0333
4
33
15.9
5.9
7.3
0377
34
15.9
59
7.4
59
34
33
3858
3729
1032
5
r5
17.2
16.8
14.7
15.4
18.0
13.2
12.8
12.2
11.3
14.0
12.8
4.2
3.6
4.0
4.1
4.0
5.4
4.2
3.8
4.3
3.9
5.7
5.2
029
021
024
028
029
030
032
030
035
034
040
5402
567.0
524
57.5
45 2
53.0
42 4
44.7
47 2
60.5
34 6
49.2
44 3
41.3
48 0
49.4
42 0
44.7
384
43.2
40 9
38.7
3085
443.3
80 0
126.9
82 1
113.4
77 5
101.0
68 9
102.0
1 017 4
1,105.4
2423
8898
9395
224 0
816 6
9594
1833
1 001 5
1 143 9
217 7
'6649
6127
57.5
7973
15816
73.3
3
3
61.6
mil.
do....
bil..
do....
do
16.2
6.4
102.0
0.393
41 7
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly.)
mil. lin. yd..
Orders, unfilled, end of period, compared with
avg. weekly production
no. weeks' prod..
Inventories, end of period, compared with
avg. weekly production
no. weeks' prod..
Ratio of stocks to unfilled orders (at cotton
mills) end of period
Exports, raw cotton equiv. thous.
net-weight §
bales
Imports, raw cotton equivalent
do....
18.9
15.8
5
r5
020
5
3.7
5
r
6277
r
505.5
r
4
911
4
r4
813
968
P
75.4
81.2
916
13.3
r
14.7
5.4
4.8
040
040
0 33
348
74.9
28 2
68.4
35 8
66.9
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly:
Filament yarn (acetate)
Staple, incl. tow (rayon)
Noncellulosic, except textile glass:
Yarn and monofilaments
Staple, incl. tow
Textile glass fiber
Fiber stocks, producers', end of period:
Filament yarn (acetate)
Staple incl tow (rayon)
Noncellulosic fiber, except textile glass:
Yarn and monofilaments
Staple incl tow .
Textile glass fiber
mil lb
do....
do . .
do....
do
3166
549.4
4 1363
4,282.3
1 014 4
mil. lb..
do
37253
4,148.2
8673
118
356
184
272
11.1
343
126
37 3
177
34 8
184
27 2
379.8
311 1
1525
289.3
2870
104 1
379.3
3454
1299
3833
3243
158 9
3127
2854
149 7
2893
2870
104 1
6,709.8
2,479 6
400.8
401 2
3,663.7
313 1
2,603.8
4429
1,739.4
6386
107.9
1130
947.0
807
673.1
1218
1,646.3
609 1
100.8
1050
9124
776
6582
99 1
1,551.6
5756
r
92.7
r
870
r
8587
725
r
606.8
T
953
1 772.5
6743
994
962
9456
823
6657
126 7
0.472
0.510
0.491
0.486
0.482
0.476
0.490
0.494
0.513
0.551
0.593
0.575
0.569
0.564
0.568
596.58
37144
22863
225.13
771.54
41864
24977
352.91
69.55
3531
21 13
34.24
69.01
36 17
19 02
32.84
64.85
3480
20 89
30.05
70.85
3784
23 74
33.01
58.44
3080
17 39
27.63
63.79
3577
22 00
28.02
63.29
33 15
20 95
30.14
75.94
4366
27 14
32.28
64.97
3564
20 92
29.33
64.27
3700
21 97
27.26
52.84
28 16
17 44
24.67
53.23
2784
18 23
25.38
66.88
3372
21 67
33.16
do....
do....
do .
do....
do
do....
524.97
!02.18
6458
422.79
r
359 61
18450
540.64
97.48
6728
r2
443.15
37852
18774
39.62
9.83
643
29.79
24 13
12 11
37.37
8.59
602
28.78
2360
1166
46.72
864
560
38.09
32 39
1685
55.92
940
641
46.52
40 70
2181
57.69
790
584
49.79
44 03
2330
50.18
755
569
42.64
37 62
1938
52.11
7.96
572
44.15
3826
1920
49.19
745
557
41.73
36 10
1889
40.10
727
5 12
32.83
r
27 71
1208
35.46
736
506
29.10
22 74
877
46.72
10 17
700
36.55
31 03
1223
38.55
804
5 50
30.50
25 64
1009
43.81
11 86
8 91
31.94
26 70
1051
WOOL AND MANUFACTURES
Wool consumption, mill (clean basis):
Apparel class
mil. lb..
Carpet class
do.. .
Wool imports clean yield
do
Duty-free (carpet class)
do....
106.5
105
423
22.0
113.5
91
565
26.0
9.8
09
51
2.3
11.4
4
09
46
2.2
92
07
57
3.3
83
06
45
3.0
4
75
4
07
53
3.0
8.4
09
48
2.0
7.7
07
4i
1.2
10.0
06
40
1.6
10.2
07
69
2.7
11.0
08
77
2.5
86
1.8
5
2.18
5
5
2.45
5
3.09
2.56
3.06
2.31
2.99
225
3.10
2.33
3.21
2.45
3.11
2.51
3.06
2.53
3.11
253
3.21
2.53
3.19
2.68
3.12
2.74
3.07
117.4
114.8
33.6
339
22 1
252
12060
10822
2934
2585
2530
2773
17394
169 697
25,275
63648
24,932
19 199
168 383
r
21,140
73608
25,781
do....
do...
do
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.), total #
mil. lin. yd..
Filament yard (100%) fabrics #
do....
Chiefly rayon and/or acetate fabrics
do....
Chiefly nylon fabrics
do....
Spun yard (100%) fab., exc. blanketing # .. do....
Rayon and/ or acetate fabrics, blends
do....
Polyester blends with cotton
do....
Filament and spun yarn fabrics
do. ..
Manmade fiber gray goods, owned by weaving
mills:
Ratio, stocks to unfilled orders, end of period
Prices, manufacturer to mfr., f.o.b. mill:
50/50 poly ester /carded cotton printcloth, gray,
48", 3.90 yds./lb., 78x54-56
$ per yd..
6,589.8
2,414 3
396.4
4252
3,531.9
3384
2,426.6
3989
5
6
Manmade fiber manufactures:
Exports, manmade fiber equivalent
mil. Ibs..
Yarn, tops, thread, cloth
do....
Cloth woven
do
Manufactured prods., apparel, furnishings do....
Imports, manmade fiber equivalent
Yarn, tops, thread, cloth
Cloth woven
Manufactured prods., apparel, furnishings
Apparel total
Knit apparel
Wool prices, raw, shorn, clean basis, delivered to
U.S. mills:
Domestic—Graded territory, 64's, staple 2-3/4"
and up
cents per lb..
Australian, 64's, Type 62, duty-paid
do....
Wool broadwoven goods, exc. felts:
Production (qtrly.)
mil. lin. yd..
022
r
2.77
4
4
108
4
08
39
1.2
88
06
36
1.5
253
3.06
253
3.20
4
FLOOR COVERINGS
Carpet, rugs, carpeting (woven, tufted, other),
shipments quarterly
mil sq yds
APPAREL
Women's, misses', juniors' apparel cuttings: @
Coats
.
thous units
Dresses
do .
Suits (incl. pant suits, jumpsuits)
do....
Skirts .
do
Blouses
thous. dozen..
See footnotes at end of tables.
1 305 1433
18235 17327
2,192
1,825
6360
5760
2,224
2,199
1712
14847
1390
5256
2.152
1803
1628
15553 12903
1 469 1533
5544
4896
1.987
L803
2213
13 177
1957
6576
2.216
1962
11 953
2357
6876
2,246
1926
11993
1954
6972
2.349
1589
9785
1391
6432
2.117
1 163 1 280 1 182
r
9267 10580 12 154
1371
1229
1,450
r
5904
7824
9552
2.225
l'.912
2.411
2.77
3.14
SURVEY OF CURRENT BUSINESS
S-36
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1981
1980
1980
Mar.
Annual
May 1981
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
1,236
1,506
10,696
15,982
2672
r
23.193
1,105
1,299
7,917
13,005
2 147
r
21.689
1,211
1,484
r
9025
15,909
r
2535
23.721
1041
1,642
8984
12,967
2538
24.531
r
7447
r
5,007
337
10130
7,904
751
Mar.
Apr.
TEXTILE PRODUCTS—Continued
APPAREL— Continued
Men's apparel cuttings: @
Suits
thous. units..
Coats 'separate), dress and sport
do....
Trousers (separate) dress .
. .
do
Slacks (jean cut), casual
do....
Shirts dress and sport
thous doz
Hosiery, shioments
thous. doz. oairs..
15,935
14,329
124,688
208,368
38895
290.453
14,471
!7,985
122 399
r
211,112
r
36 662
r
286.379
r
1,187
1,429
11 133
21,565
3703
r
23.535
1,327
1,740
10861
18,046
3307
r
24.896
1,261
1,643
10322
16,866
3 135
r
22.378
1,116
1,752
10072
19,370
3370
r
25.691
817
1,219
6356
14,094
2459
r
26.811
1,203
1,428
11419
18,249
2972
r
23.770
1,467
1,262
1,810
1,739
11 403 12,567
22,061 18,745
3082
3060
r
22.754 '26.371
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 Government
do
Backlog of orders end of period #
.
. 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 $
Aircraft (complete);
Shipments
Airframe weight
Exports, commercial
do....
thous. lb..
mil. $..
65208
28,107
59611
46,173
23229
78259
36,136
41286
9 198
70852
33,220
68 160
57608
26 141
95 149
41502
47877
11655
14849
7,379
14 144
11,968
5833
84546
35066
43684
10345
19342
7,478
18616
14,799
6519
17301
8,168
16 764
14,405
6588
19360
10,195
18636
16436
7201
89339
36926
46953
10878
92242
38507
48039
12*190
95 149
41 502
47877
ll'655
7387
8877
7946
7954
7854
8877
10725
10872
8921
9687
9877
10872
11,186.1
77,327
6,149
13,120.4
97,327
8,250
1,275.3
9,084
709
1,041.3
7,397
640
1,041.3
7,851
607
717.1
5,571
522
13050
10,343
792
1,191.1
8,613
705
572
515
518
462
544
496
432
400
299
280
529
487
675
623
560
517
490
452
439
407
-•475
432
697
499
198
7.2
53
20
702
511
191
7.4
53
2.2
772
542
230
9.0
65
25
686
487
199
8.9
67
2.1
672
486
186
8.5
63
22
847
664
183
9.2
68
2.4
698
530
169
9.3
68
25
650
472
178
89
64
25
648
470
178
97
70
26
764
544
220
105
75
30
1,628
1450
1,507
1417
1,337
1330
1,373
1 332
1,390
1 328
1,440
1 351
1,448
1350
1421
1241
1 187.6 1,210.9
9,118
8,975
786
706
1 232 1 1 1955
8,752
8,433
726
1,020
963
MOTOR VEHICLES (NEW)
Passenger cars:
Factory sales (from U.S. plants), total
Domestic
Retail sales, total, not seasonally adj
Domestics §
Imports §
Total seas adjusted at annual rate
Domestics §
Imports §
Retail inventories, end of mo., domestics:
Not seasonally adjusted
Seasonally adjusted §
Registrations |j total new vehicles
Imports, incl. domestically sponsored
3
6,400
5,840
649
578
10,559
8232
2329
8,980
6582
2399
895
670
225
9.6
71
2.5
743
541
202
8.0
59
2.1
thous..
do
1,691
1667
1567
1404
1,585
1409
26
25
24
29
32
33
26
24
26
60780
509.13
r
3,310.7
5946
72.44
62.62
r
287.5
61.6
60.21
51.35
r
293.7
513
5192
42.94
r
307.6
52.6
31.04
27.09
r
277.4
388
22.61
18.78
r
230.0
21.8
4164
35.48
252.8
41.9
4046
32.45
r
253.0
499
3102
2371
r
276.5
356
18
5282
46.31
209.0
295
6036
53 12
306.6
539
do ..
do....
10357
2,351
8761
2,469
801
220
6938
58.95
r
294.7
47.2
787
222
24
4695
39.78
r
271.5
633
21
779 16
590.95
r
3,000.5
6712
23
5839
51.09
276.9
66 1
25
. .thous .
do....
do....
do ..
733
215
676
199
716
216
704
215
702
212
747
196
730
187
711
188
636
174
675
200
849
226
1,667
1,464
169
148
130
113
109
93
104
83
107
88
84
73
134
120
186
168
155
140
149
132
140
126
135
118
167
146
1,963.5
92.3
175.7
174.9
8.1
14.7
149.8
7.4
13.1
148.7
5.7
12.6
166.7
7.4
14.1
177.1
7.4
15.2
156.5
8.1
16.9
147.9
9.0
15.3
143.1
7.1
14.3
151.7
6.3
12.9
145.7
6.6
13.6
153.0
8.6
13.5
156.5
6.4
12.4
149.0
6.2
13.8
150.8
8.7
14.5
5740
190.32
734 1
18.94
7307
17.45
6993
15.51
6120
16.40
5780
15.42
5227
13.33
524 1
13.21
5542
14.94
5705
14.08
5905
14.08
5752
12.96
5485
19.65
5477
20.01
5415
98 14
9282
10895
9089
8986
110 44
7793
62 17
88 30
46 10
70 72
207
211
222
196
190
185
190
191
162
163
176
9,950
6438
767
1083
r
9,186
r
5936
614
1074
8311
4696
835
1332
9455
5203
547
2662
5,336
5,064
2 147
2,147
48 451
44219
4,709
4,401
2069
2069
45 121
41 197
5 162
4,718
1559
1559
41539
38059
Trucks and buses:
Factory sales (from U.S. plants), total
thous..
Domestic
do....
Retail sales, seasonally adjusted:
Light-duty, up to 14,000 Ibs. GVW
do....
Medium-duty, 14,001-26,000 Ibs. GVW
do....
Heavy-duty, 26,001 Ibs. and over GVW
do....
Retail inventories, end of period, seasonally
adjusted
. . .
.
thous
Exports (BuCensus), assembled units
do....
Imports (BuCensus), including separate chassis
and bodies
thous
Registrations,!! new vehicles, excluding buses not
produced on truck chassis
thous
Truck trailers and chassis, complete (excludes
detachables), shipments
number..
Vans
do .
Trailer bodies (detachable), sold separately
do....
Trailer chassis (detachable), sold separately
do....
1,448
1350
3
3,037
2741
2,861.0
151.6
223.2
8034
259.44
rs
974 13 1 133 28 100 57
3472
209,522
138 484
^,154
14700
2477
220
r
10505
221
1,598
1 423
r
13156
8025
509
1262
11,876
7493
631
1,493
10,337 10 138
6318
6364
770
509
1 348
883
8,795
85,920
80,357
8,224
3471
45390
3471
40,140
51640 100 955
47 136 96 165
7,893
7,546
5501
2851
91 940
84847
8,073
7,484
5744
3,882
87277
78911
124,383
r
77 202
7,226
13951
7,294
4080
258
820
8435
5404
231
840
9,439
6088
840
1053
10,276
6392
827
1443
9,065
5857
754
1,179
5,890
5,455
3393
3,393
75284
67934
6,994
6,158
2797
2531
69432
62652
6,947
6,596
4406
4,406
66007
59806
7,368
6,956
2047
1,847
59378
53389
4,945
4,574
3930
3,230
57655
51337
5,530
5,151
4722
4,722
51640
47 136
1,172
8.7
93.06
79.38
1 168
8.8
92.56
79.24
r
620
565
r
963
719
r
244
90,021
83,931
119291
113,060
119201
112749
Freight cars (revenue), class 1 railroads (AAR): $
Number owned end of period
thous
Held for repairs, % of total owned
Capacity (carrying), total, end of mo
mil. tons..
Average oer car
tons..
1217
8.0
94.47
77.62
1 168
8.8
92.56
79.24
1 199
8.1
93.53
78.01
1201
8.1
93.84
78.15
1 195
8.1
93.74
78.46
7902
7,521
3 144
3 144
79486
71 701
1 192
8.3
93.51
79.48
1 186
8.7
93.31
78.67
1 184
8.8
93.27
78.75
1 180
8.9
93.06
78.83
1 177
8.8
93.61
79.09
1 166
8.1
92.47
79.32
1335
1 216
1 117 1013
1 163
8.0
650
751
534
218
80
58
23
104
77
27
1 344
1 115
16
RAILROAD EQUIPMENT
Freight cars (new), for domestic use; all railroads
and private car lines (excludes rebuilt cars and
cars for export):
Shipments
number..
Equipment manufacturers
do....
New orders
.
do
Equipment manufacturers
do.. .
Unfilled orders end of period
do
Equipment manufacturers
do
See footnotes at end of tables.
2
7,678
Inventory-retail sales ratio domestics §
Exports (BuCensus) assembled cars
To Canada
Imports (BuCensus), complete units
From Canada total
4
8,419
4
thous..
do....
do....
do
do ..
mil..
do
do ...
1 162
8.0
23
2
158
S-37
SURVEY OF CURRENT BUSINESS
May 1981
FOOTNOTES FOR PAGES S-l THROUGH S-36
General Notes for all Pages:
r
p
e
c
Revised,
Preliminary,
Estimated,
Corrected.
Page S-l
Page S-7
1. Estimates (corrected for systematic biases) for Jan.-Mar. and Apr.-June 1981 based on
planned capital expenditures of business. Planned capital expenditures for the year 1981
appear on p. 32 of the Mar. 1981 SURVEY.
f The estimates for plant and equipment expenditures have been revised. An article describing
that revision and containing revised estimates for 1947-77 begins on p. 24 of the Oct. 1980
SURVEY.
II Data for the individual durable and nondurable goods industries appear in the Mar.,
June, Sept., and Dec. issues of the SURVEY.
1. Annual average computed by BEA.
§ For actual producer prices of individual commodities see respective commodities in the
Industry section beginning p. S-22. All data subject to revision four months after original
publication.
t Revised series. Stage-of-processing producer price indexes have been revised back to
1976 to reflect updated industry input-output relationships and improved classification of
some products.
# Includes data for items not shown separately.
$ Effective Mar. 1980 SURVEY, data have been revised back to 1967 to reflect new seasonal
factors. Effective Feb. 1981, data have been revised back to 1976 to reflect new seasonal
factors.
# New series. Data back to 1975 will be shown in the 1979 BUSINESS STATISTICS.
Page S-2
t Revised series. Estimates of personal income have been revised as part of the 1980
benchmark revision of the national income and product accounts. An article describing that
revision appears in the Dec. 1980 SURVEY. Data for 1976-79 will be published in a separate
supplement to the SURVEY. Pre-1976 data will be published in The National Income and
Product Accounts of the United States, 1929-76: Statistical Tables.
$ Includes inventory valuation and capital consumption adjustments.
# New series. Detailed descriptions begin on p. 18 of the Nov. 1979 SURVEY. See note "t"
for this page for information on historical data.
§ Monthly estimates equal the centered three-month average of personal saving as a percentage of the centered three-month moving average of disposable personal income.
# Includes data for items not shown separately.
If Revised data for 1976-78 will be shown in the 1979 BUSINESS STATISTICS.
PageS-3
1. Based on data not seasonally adjusted.
H See note "H" for p. S-2.
# Includes data not shown separately.
$ Revised series. Data for both the manufacturing and retail sectors have been revised.
For manufacturing see note "t" for p. S-4. For retail see note "t" for p. S-10.
t See note "t" for p. S-4.
§ See note "t" for p. S-10.
@ See note "t" for p. S-9.
# New series. Data back to 1967 are available from the National Income and Wealth
Division, Bureau of Economic Analysis.
Page S-4
1. Based on data not seasonally adjusted.
$ Revised series. Data for both the manufacturing and retail sectors have been revised.
For manufacturing see note "t" for this page. For retail see note "t" for p. S-10.
t Revised series. Data revised back to 1958 to reflect (1) benchmarking of shipments and
inventories to the 1974, 1975, and 1976 Annual Surveys of Manufacturers, (2) recalculation
of new orders estimates, and (3) updating of the seasonal factors. A detailed description of
this revision and historical data appear in reports "Manufacturers' Shipments, Inventories,
and Orders" M3-1.7 (1958-1977), M3-1.8 (1967-1978), and M3-1.9 (1977-1979), available
from the Bureau of the Census, Washington, D.C. 20233.
§ See note "t" for p. S-10.
@ See note "t" for p. S-9.
# New series. Data back to 1967 are available from the National Income and Wealth
Division, Bureau of Economic Analysis.
# Includes data for items not shown separately.
PageS-5
1. Based on data not seasonally adjusted,
t See note "t" for p. S-4.
# Includes data for items not shown separately.
$ Includes textile mill products, leather and products, paper and allied products, and
printing and publishing industries; unfilled orders for other nondurable goods industries are
zero.
11 For these industries (food and kindred products, tobacco, apparel and other textile products,
petroleum and coal, chemicals and allied products, and rubber and plastics products) sales
are considered equal to new orders.
PageS-6
1. Based on unadjusted data.
2. This series has been discontinued.
$ Compiled by Dun & Bradstreet, Inc.
# Includes data for items not shown separately.
§ Ratio of prices received to prices paid (parity index).
11 Data through 1977 are for urban wage earners and clerical workers; beginning Jan. 1978,
there are two indexes, all wage earners and clerical workers, revised (CPI-W), and all urban
consumers (CPI-U). These indexes reflect improved pricing methods, updated expenditure
patterns, etc.; complete details are available from the Bureau of Labor Statistics, Washington, D.C. 20212.
* New series. Earlier data are available from The Bureau of Labor Statistics, Washington,
D.C. 20212.
Digitized for tFRASER Jan. 1978, CPI-U.
Beginning
Page S-8
1. Computed from cumulative valuation total.
2. Data shown here are based on 1980 seasonal factors. Effective Jan. 1981, data are no
longer seasonally adjusted.
H Beginning Jan. 1979 SURVEY, monthly and annual data have been restated to reflect the
purchasing power of the dollar as measured by finished goods; comparable data for periods
prior to November 1977 will be shown in the 1979 BUSINESS STATISTICS.
t Beginning Jan. 1978, based on CPI-U; see note "11" for p. S-6.
# Includes data for items not shown separately.
§ Data for Jan., May, July, and Oct. 1980, and Jan. 1981 are for five weeks; other months
four weeks.
@ Data for new construction have been revised back to Jan. 1975 and are available from
the Bureau of the Census, Washington, D.C. 20233.
@@ Monthly revisions back to Jan. 1975 will be shown in the 1979 BUSINESS STATISTICS.
$$ Monthly data back to Jan. 1970 on the 1972=100 base will be shown in the 1979
BUSINESS STATISTICS.
Page S-9
1. Index as of Apr. 1, 1981: building, 305.5; construction, 321.4.
H Home mortgage rates (conventional first mortgages) are under money and interest rates
on p. S-15.
§ Data include guaranteed direct loans sold.
$ Source: Media Records, Inc. 64-City Newspaper Advertising Trend Chart.
@ Monthly data back to 1972 on the 1972=100 base are available upon request.
t Effective April 1981 SURVEY, wholesale trade data have been revised for Jan. 1973-Jan.
1981. Revised data are available upon request.
Page S-10
1. Advance estimate.
2. Effective Jan. 1979 data, sales of mail-order houses are included with department store
sales.
t Effective April 1981 SURVEY, retail trade data have been revised for the years 1971-1980.
Effective April 1979 SURVEY, data have been revised from 1967-1970. Revised data and a
summary of the changes are available from the Census Bureau, Washington, D.C. 20233.
# Includes data for items not shown separately.
Page S-l1
1. A s o f J u l y 1.
2. The accounts receivable series have been discontinued.
# Includes data for items not shown separately.
$ Revisions for Jan. 1977-Oct. 1979 appear in "Current Population Reports," Series P-25,
No. 870. Revisions for July-Dec. 1976 appear in "Populations: Estimates of the Population
of the United States and Components of Change—1940-79," P-25 No. 802 (June 1979),
Bureau of the Census.
t Effective July 1980 SURVEY, data have been revised based on March 1979 benchmark
levels and updated seasonal adjustment factors; they are not comparable with previously
published data. Effective Oct. 1979 SURVEY, data have been revised based on March 1978
benchmark levels and updated seasonal adjustment factors; effective Oct. 1978 SURVEY,data
have been revised to conform to the 1972 SIC and adjusted to March 1977 benchmark levels,
therefore, data are not strictly comparable with earlier periods. See "BLS Establishment
Estimates Revised to March 1979 Benchmarks," in the July 1980 issue of Employment and
Earnings. See also Oct. 1979 and Oct. 1978 issues of Employment and Earnings for similar
articles.
U Effective with the Jan. 1980 SURVEY, the labor force series reflect new seasonal factors.
Data have been revised back to 1975; comparable monthly data for 1975-79 appear in the
Feb. 1980 issue of Employment and Earnings, U.S. Department of Labor, Bureau of Labor
Statistics.
* New series. The participation rate is the percent of the civilian noninstitutional population in the civilian labor force. The employment-population ratio is employment as a percent
of the total noninstitutional population, 16 years and over.
SURVEY OF CURRENT BUSINESS
S-38
Page S-12
t See corresponding note on p. S - l l .
§ Effective October 1978 SURVEY, includes data formerly shown separately under ordnance and accessories.
@ Formerly shown as Electrical equipment and supplies.
U Production and nonsupervisory workers.
$ This series is not seasonally adjusted because the seasonal component is small relative to
the trend-cycle and/or irregular components and consequently cannot be separated with
sufficient precision.
PageS-13
t See note "f" on p. S - l l .
§ See note "§" on p. S-12.
@ See note "@" on p. S-12.
$ See note "$" on p. S-12.
U Production and nonsupervisory workers.
Page S-14
t See corresponding note on p. S - l l .
II Production and nonsupervisory workers.
$ Earnings in 1967 dollars reflect changes in purchasing power since 1967 by dividing by
Consumer Price Index; effective Mar. 1979 SURVEY, data reflect new seasonal factors for the
CPI.
§ Wages as of Apr. I, 1981: Common, $12.45; Skilled, $16.13.
$ Includes data for items not shown separately.
@ 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.
@@ Insured unemployment as a percent of average covered employment in a 12-month
period.
May 1981
^ Composition of the money stock measures is as follows:
Ml-A.—This measure is currency plus demand deposits at commercial banks. It is essentially the same as the old Ml except that it excludes demand deposits held by foreign commercial banks and official institutions.
Ml-B.—This equals M l - A plus interest-earning checkable deposits at all depositary
institutions—namely NOW accounts, automatic transfer from savings (ATS) accounts, and
credit union share draft balances—as well as a small amount of demand deposits at thrift
institutions that cannot, using present data sources, be separated from interest-earning checkable
deposits.
A/2.—This measure adds to M l - B overnight repurchase agreements (RP's) issued by commercial banks and certain overnight Eurodollars (those issued by Caribbean branches of
member banks) held by U.S. nonbank residents, money market mutual fund shares, and
savings and small-denomination time deposits (those issued in denominations of less than
$100,000) at all depositary institutions. Depositary institutions are commercial banks (including
U.S. agencies and branches of foreign banks, Edge Act corporations, and foreign investment
companies), mutual savings banks, savings and loan associations, and credit unions.
M3.—This measure equals M2 plus large-denomination time deposits (those issued in denominations of $100,000 or more) at all depositary institutions (including negotiable CD's) plus
term RP's issued by commercial banks and savings and loan associations.
L.—This broad measure of liquid assets equals M3 plus other liquid assets consisting of
other Eurodollar holdings of U.S. nonbank residents, bankers acceptances, commercial paper,
savings bonds, and marketable liquid Treasury obligations.
$$ Includes ATS and NOW balances at all institutions, credit union share draft balances,
and demand deposits at mutual savings banks.
* Overnight (and continuing contract) RP's are those issued by commercial banks to the
nonbank public, and overnight Eurodollars are those issued by Caribbean branches of member
banks to U.S. nonbank customers.
@ Small time deposits are those issued in amounts of less than $100,000. Large time
deposits are those issued in amounts of $100,000 or more and are net of the holdings of
domestic banks, thrift institutions, the U.S. Government, money market mutual funds, and
foreign banks and official institutions.
# Includes data for items not shown separately.
PageS-15
1. Average for Dec.
2. Average for the year.
3. Daily average.
4. Beginning Jan. 1981, data are for top-rated only. Prior data cover a range of top-rated
and regional dealer closing rates.
# Includes data for items not shown separately.
§ For demand deposits, the term "adjusted" denotes demand deposits other than domestic commercial bank and U.S. Government, less cash items in process of collection; for
loans, exclusive of loans to and Federal funds transactions with domestic commercial banks
and include valuation reserves (individual loan items are shown gross; i.e. before deduction
of valuation reserves).
U Adjusted to exclude domestic commercial interbank loans and Federal funds sold to
domestic commercial banks.
$ Data beginning Dec. 1978 reflect a reduction in the number of banks reporting (from
317 to 171) and changes in consolidation basis as well as content of several asset and liability
items. Unless otherwise stated, comparable data for earlier periods will be available later.
# New series. Beginning Dec. 1978, data are for all investment account securities; comparable data for earlier periods are not available.
t Revised series. Data are now monthly averages and the coverage has been expanded.
Comparable data back to Dec. 1972 are available from the Federal Reserve Board, Washington, D.C. 20551.
It Rates on the commercial paper placed for firms whose bond rating is Aa or the equivalent. Data through Oct. 1979 show a maturity for 120-179 days. Beginning Nov. 1979, maturity is for 180 days.
@ Data through Oct. 1979 show a maturity for 150-179 days. Beginning Nov. 1979, maturity is for 180 days.
PageS-16
1. Data are for fiscal years ending Sept. 30 and include revisions not distributed to the
months.
t Beginning Jan. 1979 SURVEY, the consumer credit group has been completely restructured;
comparable data for periods prior to Nov. 1977 are available from the Federal Reserve
Board, Washington, D.C. 20551.
# Includes data for items not shown separately.
§ The Department of Health, Education, and Welfare was redesignated as the Department of Health and Human Services by the Department of Education Organization Act.
Data for the months Mar.-Apr. 1980 include 2,659 million dollars in outlays by the Department of Education.
PageS-17
1. Total for Jan.-May and Oct.-Dec.
2. Total for 11 months; production not available for Aug.
§ Or increase in earmarked gold (—).
t The Federal Reserve has redefined the monetary aggregates. The redefinition was prompted
by the emergence in recent years of new monetary assets—for example, negotiable order of
withdrawal (NOW) accounts and money market mutual fund shares—and alterations in the
basic character of established monetary assets—for example, the growing similarity of and
substitution between the deposits of thrift institutions and those of commercial banks. Monthly
data from 1959 to date are available from the Banking Section of the Division of Research
Digitized for and Statistics at the Federal Reserve Board, Washington, D.C. 20551.
FRASER
Page S-18
1. Beginning Jan. 1981 data, U.S. Virgin Islands trade with foreign countries is included.
§ Number of issues represents number currently used; the change in number does not
affect the continuity of the series.
$ For bonds due or callable in 10 years or more.
# Includes data for items not shown separately.
@ 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.
@@ Effective Feb. 1979 SURVEY, seasonally adjusted data have been revised to reflect
sums of commodity components; comparable data for periods prior to 1977 will be shown in
the 1979 BUSINESS STATISTICS.
PageS-19
1. See note 1 for p. S-18.
# Includes data not shown separately.
§ Data may not equal the sum of geographic regions, or commodity groups and principal
commodities, because of revisions to the totals not reflected in the components.
@ See note "@@" for p. S-18.
PageS-20
1. See note 1 for p. S-18.
# Includes data not shown separately.
PageS-21
1. Domestic trunk operations only (averaging about 90 percent of domestic total).
2. Annual total; quarterly or monthly revisions are not available.
3. Before extraordinary and prior period items.
4. For month shown.
5. Beginning Jan. 1979, data are based on a new sample of freight shipments for 1976. The
new indexes have been linked to the old indexes to maintain comparability.
6. Beginning Jan. 1977, data are for unlinked passenger trips.
7. Beginning Jan. 1980 data, another company is included.
8. Data are for six months, Jan.-June 1980.
# Includes data for items not shown separately.
§ Total revenues, expenses, and income for all groups of carriers also reflect nonscheduled
service.
$ Beginning Jan. 1977, defined as those having operating revenues of $50 million or more.
II Average daily rent per room occupied, not scheduled rates.
@ Beginning Jan. 1979, data include visits to Badlands and Theo. Roosevelt National
Parks (formerly classified as recreational areas). Beginning Jan. 1980, data include visits to
Channel Islands (formerly classified as a monument). Beginning June 1980, data include
visits to Biscayne (formerly classified as a monument). Beginning Dec. 1980, data include
visits to Katmai (formerly classified as a monument).
May 1981
S-39
SURVEY OF CURRENT BUSINESS
PageS-22
1. Reported annual total; monthly revisions are not available.
2. Data withheld to avoid disclosing operations of individual companies.
3. Beginning Jan. 1979, data include chemically-treated fertilizer and sodium nitrate containing
over 16.3% nitrogen by weight; not strictly comparable with data shown for earlier periods.
4. Annual total for monthly data where available; not comparable with earlier periods.
5. See note "H" for this page.
6. Data beginning Jan. 1979 are for value of shipments and comprise three new product
categories. Comparable data for these new categories are not available prior to Jan. 1979.
However, the difference between total value of shipments and total factory sales (formerly
shown) is considered statistically insignificant.
7. Beginning Jan. 1981, data represent gross weight (formerly phosphoric acid content
weight) and are not comparable with data shown for earlier periods.
# Includes data for items not shown separately.
§ Data are reported on the basis of 100 percent content of the specified material unless
otherwise indicated.
$ Monthly revisions, back to 1975 for some commodities, will be shown in the 1979 BUSINESS STATISTICS.
<& Monthly revisions for Oct. 1976-Feb. 1978 will be shown in the 1979 BUSINESS STATISTICS.
H Data for Jan. 1977-June 1979 exclude potassium magnesium sulfate; not strictly comparable with data shown for other periods.
PageS-23
1. Includes Hawaii; not distributed to the months.
2. Reported annual total, including Hawaii; monthly data are preliminary and subject to
change.
§ Data are not wholly comparable from year to year because of changes from one classification to another.
© Monthly revisions, for some series back to 1976, will be shown in the 1979 BUSINESS
STATISTICS.
PageS-28
1. Annual data; monthly revisions not available.
2. Less than 500 short tons.
3. Effective Jan. 1980, data are no longer available.
PageS-29
1. Annual data; monthly revisions are not available.
2. For month shown.
3. Copper refinery production from domestic and foreign ores are not shown to avoid
disclosing information for individual firms. The source reports 79,039 metric tons of domestic ores and 14,623 metric tons of foreign ores for the period July-Sept. 1980.
Page S-30
1. Data beginning Jan. 1978 exclude stocks of lead base bullion in transit and at refineries.
2. Less than 50 tons.
3. Data are for five weeks; other months 4 weeks.
4. For month shown.
5. Annual data; monthly revisions are not available.
6. Effective July 1980 SURVEY, data are revised and shown on a new base. Revised data
are not comparable to previously published data.
f Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap.
@ All data (except annual production figures) reflect GSA remelted zinc and zinc purchased for direct shipment.
$ Source for monthly data: American Bureau of Metal Statistics. Source for annual data:
Bureau of Mines.
# Includes data not shown separately.
f Revised series. The sample size has been restored to 100 firms and the base has been
changed to 1977=100.
* New series. These indexes are based on shipments of hydraulic and pneumatic products
reported by participating members of the National Fluid Power Association. Data back to
1959 are available upon request.
Page S-24
PageS-31
1. See note "@@" for this page.
2. Crop estimate for the year.
3. Stocks as of June 1.
4. Stocks as of June 1 and represents previous year's crop; new crop not reported until
June (beginning of new crop year).
5. Previous year's crop; new crop not reported until Oct. (beginning of new crop year).
6. Data are no longer available.
§ Excludes pearl barley.
# Bags of 100 Ibs.
H Revised crop estimates for 1970-75 will be shown in the 1979 BUSINESS STATISTICS.
% Monthly revisions, for some series back to 1976, will be shown in the 1979 BUSINESS
STATISTICS.
©(oj Data are quarterly except for June (covering Apr. and May) and Sept. (covering
June-Sept.).
1. Reflects revisions not available by months.
2. Effective Jan. 1980, total stocks for bituminous coal and lignite exclude residential and
commercial stocks and are not comparable with data shown for earlier periods.
3. Data are available back to Oct. 1977.
4. Beginning Jan. 1979, data reflect coverage of additional processing facilities; not strictly
comparable with data shown for earlier periods.
# Includes data for items not shown separately.
@ Beginning July 1977, data include shipments to mobile home and travel trailer manufacturers (formerly excluded); they are not directly comparable with data for earlier periods.
* New series. Annual data prior to 1978 and monthly data prior to April 1979 are available upon request.
§ Includes nonmarketable catalyst coke.
II Includes small amounts of "other hydrocarbons and hydrogen refinery input," not shown
separately.
PageS-25
1. Less than 50 thousand barrels.
2. See note 4 for p. S-31.
3. Reported annual totals; revisions not allocated to the months.
4. See note "U" for this page.
If Prices are mid-month, include taxes, and represent full service; comparable prices prior
to Jan. 1979 are not available.
# Includes data for items not shown separately.
* New series. See note "11" for this page.
PageS-32
1. Average for 11 months; price not available for Dec.
2. Prices for Jan.-Mar. 1979 are estimated; actual price not available. Annual average for
1979 is based on actual price (Apr.-Dec.).
3. Average for nine months; index not available for Apr.-June.
§ Cases of 30 dozen.
H Bags of 132.276 Ibs.
\ Monthly revisions back to Jan. 1975 will be shown in the 1979 BUSINESS STATISTICS.
<& Monthly revisions back to 1976 will be shown in the 1979 BUSINESS STATISTICS.
# Effective Apr. 1981 SURVEY, the wholesale price of smoked hams has been discontinued
and has been replaced with the comparable price index. Annual indexes prior to 1979 and
monthly indexes prior to Feb. 1980 are available upon request.
PageS-26
1. Beginning Sept. 1979, estimated prices are derived'from a different source and are not
comparable with prices shown for earlier periods. Annual average for 1979 represents Sept.-Dec.
2. Crop estimate for the year.
§ Monthly data reflect cumulative revisions for prior periods.
% Producers' and warehouse stocks.
1| Factory and warehouse stocks.
PageS-27
1. Average for Jan.-May.
2. Annual total; monthly revisions are not available.
3. Average for July-Dec.
4. Average for Jan.-Aug.
# Totals include data for types of lumber not shown separately.
PageS-33
1. Reported annual total; not distributed to the months.
2. Effective Jan. 1980, data are no longer available.
3. Average for 11 months; no price for Aug.
U Consumption by 525 daily newspapers reporting to the American Newspaper Publishers
Association.
§ Monthly data are averages of the 4-week periods ending on the Saturday nearest the end
of the month; annual data are as of Dec. 31.
$ Data are monthly or annual totals. Formerly weekly averages were shown.
PageS-34
1. Reported annual total; revisions not allocated to the months.
2. Crop for the year.
3. Data cover five weeks; other months, four weeks.
4. Cumulative total for the 1980 crop.
5. Data are not available prior to Jan. 1980.
* New series. Data for finishing mills have replaced data for weaving mills, which are no
longer available.
# Includes data for items not shown separately.
U Cumulative ginnings to the end of month indicated.
§ Bales of 480 Ibs.
S-40
SURVEY OF CURRENT BUSINESS
May 1981
PageS-35
Page S-36
1. Effective Jan. 1, 1978, includes reexports, formerly excluded.
2. Annual total includes revisions not distributed to the months.
3. Average for crop year; Aug. 1-Jul. 31.
4. For five weeks; other months four weeks.
5. Monthly average.
6. Average for 11 months; no price for Oct.
7. Less than 500 bales.
§ Bales of 480 Ibs.
11 Based on 480-lb. bales, preliminary price reflects sales as of the 15th; revised price reflects
total quantity purchased and dollars paid for the entire month (revised price includes discounts and premiums).
# Includes data not shown separately.
(a Effective Apr. 1979 SURVEY, data include 600 additional firms; comparable data back
to J a n . 1977 (except for slacks, jean cut, casual, shown on p. S-36) will appear in the 1979
BUSINESS STATISTICS.
1. Annual total includes revisions not distributed to the months.
2. Estimates of production, not factory sales.
3. Effective Jan. 1980, passenger vans previously reported as passenger cars are now included
with trucks.
4. Effective Jan. 1979, data are not directly comparable with data shown for earlier periods
because of the inclusion of Volkswagens produced in the U.S.
5. Monthly data for 1980 exclude exports for off-highway trucks; not strictly comparable
with data shown for other periods.
(a See note "(&" p. S-35.
# Total includes backlog for nonrelated products and services and basic research.
§ Domestics comprise all cars assembled in the U.S. and cars assembled in Canada and
imported to the U.S. under the provisions of the Automotive Products Trade Act of 1965.
Imports comprise all other cars.
1* Courtesy of R.L. Polk & Co.; republication prohibited. Because data for some states
are not available, month-to-month comparisons are not strictly valid.
$ Excludes railroad-owned private refrigerator cars and private line cars.
Discontinuation of WEEKLY BUSINESS STATISTICS
Publication of WEEKLY BUSINESS STATISTICS, which
had provided a weekly update of major series published in
the Current Business Statistics section of the SURVEY,
has been discontinued.
SURVEY is for government administrators, trade association executives,
union officials, economists, statisticians, market researchers, and anyone'else
who wants to know, month by month, the state of the Nation's economy.
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INDEX TO CURRENT BUSINESS STATISTICS, Pages S1-S40
SECTIONS
General:
Business indicators
Commodity prices
Construction and real estate
Domestic trade
Labor force, employment, and earnings
Finance
Foreign trade of the United States
Transportation and communication
1-6
6-8
8,9
9-11
11-15
15-18
18-20
21
Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products; tobacco.
Leather and products
22
23
23-26
27
Lumber and products
Metals and manufactures
Petroleum, coal, and products
Pulp, paper, and paper products
27,28
28-31
31,32
32,33
Rubber and rubber products
Stone, clay, and glass products
Textile products
Transportation equipment
33
34
34-36
36
INDIVIDUAL SERIES
Advertising. .
...............................
9, 14
Aerospace vehicles
............................
36
Agricultural loans
............................
15
Air carrier operations
.........................
21
Ah* conditioners (room)
.......................
31
Aircraft and parts
............................
5, 36
Alcohol, denatured and ethyl
...................
22
Alcoholic beverages
...........................
9,23
Aluminum
...................................
29
Apparel
............................
2-7,9-13,35,36
Asphalt
.....................................
31,32
Automobiles, etc
..............
2-7,9,10,17,19,20,36
15
Banking
.....................................
24
Barley
......
............
....................
30
Battery shipments
............................
25
Beef and veal.
...............................
Beverages. . . . ; .
......................
7,9,19, 20,23
4, 5
Blast furnaces, steel mills
.....................
Bonds, issued, prices, sales, yields
............... 17, 18
29
Brass and bronze
.............................
34
Brick
.....................
.
.................
Building and construction materials
............. 2-5, 9
Building costs
................................
9
8
Building permits
.............................
Business incorporations (new), failures
..........
6
3, 4
Business sales and inventories
..................
23
Butter
......................................
Cattle and calves
.............................
25
Cement and concrete products
................
7, 9, 34
Cereal and bakery products
....................
7
Chain-store sales, firms with 11 or more stores. . . 10, 11
Cheese
..................
:
.................
23
Chemicals
.................
3-5,7,12,13,17,19,20,22
Cigarettes and cigars .......... .
...............
26
Clay products
.............................
3, 4, 7, 34
Coal
....................................
3,7,19,31
Cocoa
.......................................
20, 25
Coffee
.......................................
20,25
Coke
........................................
31
Combustion, atmosphere, heating equipment
.....
30
Communication
............................
1, 17, 21
Confectionery, sales
...........................
25
Construction:
Contracts
..................................
8
Costs
.....................................
9
Employment, unemployment, hours, earnings. . 11-14
Highways and streets
.......................
8
Housing starts
.............................
8
Materials output indexes
....................
9
New construction put in place
................
8
Consumer credit
..............................
16
Consumer goods output, index
.................
2
Consumer Price Index
.........................
6
Copper
......................................
29
Corn
........................................
24
Cost of living (see Consumer Price Index)
.......
6
Cotton, raw and manufactures
............
6, 19, 34, 35
Cottonseed oil
................................
26
Credit, short* and intermediate-term
............
16
Crops
.......
..........................
6,24,26,34
Crude oil
....................................
3,31
Currency in circulation
........................
17
Dairy products
...........................
6, 7, 23, 24
Debt, U.S. Government
.......................
16
Deflator, PCE
...............................
2
Department stores, sales, inventories
............
10, 11
Deposits, bank
...............................
15,17
Dishwashers
.................................
31
Disposition of personal income
.................
2
Disputes, industrial
...........................
15
Distilled spirits
...............................
23
Dividend payments
...........................
2, 17
Drugstores, sales
.............................
10, 11
Earnings, weekly and hourly
13,14
Eating and drinking places
10,11
Eggs and poultry
6,7,25
Electric power
3,7,23
Electrical machinery and equipment
3-5,
7,12,13,17,19,20,30,31
Employee-hours, aggregate, and indexes
13
Employment
11,12
Explosives
22
Exports (see also individual commodities)
1,18,19
Failures, industrial and commercial
6
Farm prices
6,7
Farm wages
14
Fats and oils
7,19,20,26
Federal Government
finance
16
Federal Reserve banks, condition of
15
Federal Reserve member banks
15
Fertilizers
7,22
Fire losses
9
Fish
25
Flooring, hardwood
28
Flour, wheat
25
Food products
2-7,9,12,13,17,19,20,23-26
Foreign trade (see also individual com mod.)
18-20
Freight cars (equipment)
36
Fruits and vegetables
6,7
Fuel oil
6,31,32
Fuels
3,6,7,19, 20,31, 32
Furnaces
31
Furniture
3,7,10,12,13
Gas, output, prices, sales, revenues
Gasoline
Glass and products
Glycerin
Gold
Grains and products
Grocery stores
Gypsum and products
3,6,7,23
32
34
22
17
6,7,19,24,25
10,11
7,34
Hardware stores
10
Heating equipment
7,30
Help-wanted advertising index
14
Hides and skins
7,27
Highways and streets
8
Hogs
25
Home electronic equipment
7
Home Loan banks, outstanding advances
9
Home mortgages
9
Hosiery
36
Hotels and motor-hotels
21
Hours, average weekly
12,13
Housefurnishings
2,4-6,9,10
Household appliances, radios, and television sets.
2,
7,10,30
Housing starts and permits
8
Imports (see also individual commodities)
1,19,20
Income, personal
2
Income and employment tax receipts
16
Industrial production indexes:
By industry
3
By market grouping
2,3
Installment credit
11,16
Instruments and related products
3,4,12,13
Insurance, life
16
nterest and money rates
15
nternational transactions of the United States. . .
1
nventories, manufacturers* and trade
3-5,9,10
nventory-sales ratios
4
ron and steel
3,7,9,17,19,20,28,29
Labor advertising index, stoppages, turnover
14,15
Labor force
11
Lamb and mutton
25
Lead
29,30
Leather and products
3,7,12,13,27
Life insurance
16
Livestock
6,7,25
Loans, real estate, agricultural, bank (see also
Consumer credit)
9,15
Lubricants
31,32
Lumber and products
3,7,9,12,13,27,28
Machine tools
30
Machinery
3-5,7,12,13,17,19,20,30
Mail order houses, sales
10
Manufacturers* sales (or shipments), inventories,
orders
4,5
Manufacturing employment, unemployment, pro*
duction workers, hours, earnings
11-14
Manufacturing production indexes
2,3
Margarine
26
Meat animals and meats
7,19,20,25
Medical care
6
Metals
3-5,7,12,13,17,19,20,28-31
Milk
24
Mining and minerals
1-3,7,11-14,17
Monetary statistics
17
Money and interest rates
15
Money supply
17
Mortgage applications, loans, rates
9,15,16
Motor carriers
21
Motor vehicles
2-4,6,10,17,19,20,36
National parks, visits
21
Newsprint
20,33
New York Stock Exchange, selected data
18
Nonferrous metals
3,5,7,17,19,20,29,30
Oats
Oils and fats
Orders, new and unfilled, manufacturers*
Outlays, U.S. Government
24
7,19,20,26
5
'..'.'.
16
Paint and paint materials
Paper and products and pulp
7,22
3-5,
7,12,13,17,20,32,33
Parity ratio
6
Passenger cars
2-4,6,7,9,10,17,19,20,36
Passports issued
21
Personal consumption expenditures
2
Personal income
2
Personal outlays
2
Petroleum and products.... 3-7,12,13,17,19,20,31,32
Pig iron
28
Plant and equipment expenditures
1
Plastics and resin materials
22
Population
11
Pork
25
Poultry and eggs
6,7,25
Price deflator, implicit (PCE)
2
Prices (see also individual commodities)
6-8
Printing and publishing
3,12,13
Private sector employment, hours, earnings
11-14
Producer Price Indexes
7,8
Profits, corporate
17
Public utilities
1-3,8,17,18,23
Pulp and pulpwood
32
Purchasing power of the dollar
8
Radio and television
2,10,30
Railroads
1,14,18,21,36
Ranges
31
Rayon and acetate
35
Real estate
9,15,16
Receipts, U.S. Government
16
Refrigerators
31
Registrations (new vehicles)
36
Rent (housing)
6
Retail trade
3,4,6,10-14,16
Rice
24
Rubber and products (incL plastics). 3-5,7,12,13,20,33
Saving, personal
2
Savings and loan assoc., new mortgage loans
9
Savings deposits
15
Securities issued
17
Security markets
17,18
Services
6,12-14
Sheep and lambs
25
Shoes and other footwear
7,10,11,27
Silver
^17
Soybean oil
26
Spindle activity, cotton
35
Steel (raw) and steel manufactures
20,28,29
Steel scrap
28
Stock market customer
financing
17
Stock prices, yields, sales, etc
18
Stone, clay, glass products
3,4,7,12,13,17,34
Sugar
20,26
Sulfur
22
Sulfuric acid
,
22
Superphosphate
22
Tea imports
26
Telephone and telegraph carriers
21
Television and radio
2,10,30
Textiles and products. . . . 3-5,7,12,13,17,19,20,34-36
Tin
30
Tires and inner tubes
7,33
Tobacco and manufactures
3-6,12,13,26
Tractors
30
Trade (retail and wholesale)
3,4,6,9-14
Transit lines, urban
21
Transportation
1,6,12-14,17,18,21
Transportation equipment. . . 2-5,7,12,13,17,19,20,36
Travel
21
Truck trailers
36
Trucks (industrial and other)
30,36
Unemployment and insurance
11,14
U.S. Government bonds
15-18
U.S. Government
finance
16
U.S. International transactions
1
Utilities
1,3,6,8,17,18,23
Vacuum cleaners
Variety stores
Vegetable oils
Vegetables and fruits
Veterans* unemployment insurance
Wages and salaries
Washers and dryers
Water heaters
Wheat and wheat
flour
Wholesale trade
Wood pulp
Wool and wool manufactures
Zinc.
31
- . 10,11
19,20,26
6,7
14
2,13,14
31
fl
24,25
3,4,6,9,12-14
32
&
30
UNITED STATES
GOVERNMENT PRINTING OFF
PUBLIC DOCUMENTS
DEPARTMENT
W A S H I N G T O N . D.C. 2O4O2
OFFICIAL B U S I N E S S
In the first quarter
•
•
•
•
Real GNP increased 8!/2 percent
GNP fixed-weighted price index increased 10 percent
Real disposable personal income increased 3 percent
Corporate profits before tax increased
Real GNP
1977
1978
1979
GNP Prices
1980
1981
Corporate Profits With IVA and CCAdj
Disposable Personal Income
1978
1979
1980
1981
1977
1978
1979
1980
1981
@FedFRASER