Full text of Survey of Current Business : May 1987
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IVIAY 1987 / VOLUME. 61'NUMBER
OP
CONTENTS
Situatton
1
National Income and Product Accounts Tables
4
Reconciliation and Other Special Tables
17
Relationship Between Personal Income and
Adjusted Gross Income, 1983-85
18
Pollution Abatement and Control Expenditures, 1982-85
21
U.S. Business Enterprises Acquired or Established
by Foreign Direct Investors in 1986
27
U.S* Affiliates of Foreign Companies: Operations in 19g5
36
CURBEOT BUSINGS STATISTICS
General
SI
Industry S19
Footnotes S33
Subject Index (Inside Back Cover)
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Wakefield, National Itteome and Wealth Division,
of CXTOENT BUSINESS. Published monthly by
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the BUSINESS SITUATION
DEVISED estimates show that real
GNP increased at an annual rate of
4x/2 percent in the first quarter of
1987; the preliminary estimates had
shown about the same rate of increase (table I).1 Several components
of real GNP registered offsetting revisions, although the broad picture of
the economy, as sketched in last
month's
"Business
Situation,"
changed little. The largest upward revisions were in inventory investment
($4 billion) and in noiiresidential fixed
investment ($4 billion). The largest
downward revisions were in personal
consumption expenditures ($4 billion)
and in net exports ($3 billion). In net
exports, an upward revision in imports overshadowed an upward revision in exports. The increase in the
GNP price index (fixed weights) was
revised up, to 4 percent, from the 3V2percent preliminary estimate. The
upward revision largely reflected
newly available data on export arid
import prices.
The -revision in inventories largely
reflected newly available March data
for manufacturing and trade. The revision in nonresidential fixed investment largely reflected revised Census
construction put-in-place data for January and February. The bulk of the
downward revision in personal consumption expenditures, which was
spread across major subcomponents,
reflected revised retail sales data for
February and March. The downward
revision in net exports reflected
newly available March data on merchandise exports and imports.
1. 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. Quarter-to-quarter percent changes are compounded to annual rates. Real,
or constant-dollar, estimates are expressed in 1982 dollars.
Corporate Profits
Profits from current production—
profits before tax with inventory valuation adjustment (IVA) and capital
consumption adjustment (CCAdj)—increased $221/2 billion in the first quarter of 1987, following a $9 billion increase in the fourth quarter of 1986.
Domestic profits of nonfinancial corporations accounted for all of the
first-quarter increase after accounting
for less than one-half of the fourthquarter increase. Small changes in domestic profits of financial corporations and in profits from the rest of
the world were offsetting.
Profits before tax (PBT) increased
$7 billion in the first quarter, following an increase of $19 billion in the
fourth. The much larger increase in
profits from current production than
in PBT is due to the CCAdj, which increased $15V2 billion. The CCAdj, like
the IVA (which changed little in the
first quarter), is reflected in the current production measure but not in
PBT.
The CCAdj is the difference between depreciation based largely on
tax accounting, on the one hand, and
economic depreciation as defined by
BEA, on the other. The Tax Reform
Act of 1986 (TEA) permitted more accelerated depreciation for tax purposes. An increase in tax-based depreciation, which was not matched by a
similar increase in economic depreciation, produced the very large increase
in CCAdj in the first quarter.
Profits after tax (PAT) declined $8
billion in the first quarter. The difference between the $8 billion decline in
PAT and the $7 billion increase in
PBT reflected a $15 billion increase in
corporate profits tax liabilities. The
increase in tax liabilities occurred despite a substantial reduction in statutory tax rates under the TRA; the
effect of the reduction in statutory
Looking Ahead . . .
• U.S. Multinational Companies: Operations in 1985. Data and analysis
of the operations in 1985 of U.S. parent companies and their foreign affiliates, by industry and by country of foreign affiliate, will be presented in
the June SURVEY. Selected data will be available as of June 22.
• U.S. International Transactions and Investment Position. Revised estimates of U.S. international transactions will be presented in the June
SURVEY, along with preliminary estimates of the first quarter of 1987.
The revisions cover 1982-86. For the first time, the international services
accounts will include estimates of expenditures by foreign medical
patients in the United States and of commissions on U.S. and foreign securities transactions. The same issue will present preliminary estimates
for yearend 1986 of U.S. assets abroad and foreign assets in the United
States and the sources of change in the investment position.
• Annual Revisions in the National Income and Product Accounts. Revised estimates will be presented in the July SURVEY. The revisions cover
the period beginning with the first quarter of 1984 and incorporate new
source data and seasonal factors.
• State Quarterly Personal Income. Revised estimates for 1969-79, prepared as part of a comprehensive revision of the regional estimates, will
be presented in the July SURVEY. Estimates for 1980-85 appeared in the
October 1986 SURVEY.
SURVEY OF CURRENT BUSINESS
rates was more than offset by the
effect of increases in the tax base.
(The interplay of TRA provisions and
profits measures will be discussed in
next month's "Business Situation.")'".
Reform Act of 1986 (TRA), and $11%
billion due to larger tax bases. Twothirds of the total increase was accounted for by corporate profits tax
accruals. The $13 billion increase in
corporate taxes was more than accounted for by an $18 billion increase
Government Sector
due to various provisions of TRA. (For
The fiscal position of the govern- a discussion of the major provisions of
ment sector in the NIPA's improved TRA, see the March 1987 SURVEY OF
in the first quarter of 1987, as the CURRENT BUSINESS.)
combined deficit of the Federal GovMost of the remainder of the total
ernment and of State and local gov- increase was accounted for by contriernments decreased .$6%. billion (table butions for social insurance. The in2). The deficit of the Federal Govern- crease in contributions included $2
ment declined $14 Va billion, and the billion for an increase in the social sesurplus of State and local govern- curity tax base—to $43,800 from
ments declined $8 billion.
$42,000—and $1 billion for an inThe Federal sector.—The Federal crease in the medicare supplementary
insurance
premium—to
Government deficit declined to $174 Vk medical
billion, as receipts increased more $17.90 from $15.50 per month.
A $1 billion decline in personal tax
than expenditures.
Receipts increased $19% billion, and nontax payments was the net
compared with $21 Va billion in the result of a $14 billion decline due to
fourth quarter. The first-quarter in- TRA and a $13 billion increase due to
crease was the result of $7Vfe billion higher incomes. (The revised estimate
due to law changes, largely the Tax of first-quarter personal taxes is $9.9
Table 1.—Revisions in Selected Component Series of the NIPA's, First Quarter of 1987
Seasonally adjusted at annual rates
Preliminary
First
revision
Difference
Percent change from
preceding quarter at
annual rates
Preliminary
First
revision
Billions of current dollars
GNP ..
Personal consumption expenditures
Nonresidential fixed investment
Residential investment
Change in business inventories
Net exports
Government purchases
National income
Compensation of employees
Corporate profits with inventory valuation and capital
consumption adjustments
Other
. .
. .
Personal income
..
4,339.2
2,854.3
447.0
225.0
32.7
-112.0
892.1
4,348.4
2,850.7
451.4
226.7
40.0
-111.9
891.4
9.2
36
4.4
1.7
7.3
.1
-.7
7.8
4.9
14.1
-1-8
8.7
4.4
-10.7
1.2
3.1
2.8
2,577.5
3,507.4
2,578.1
.6
5.6
9.0
5.7
594.8
333.5
595,7
.9
11,8
31.9
12.5
3,585.3
3,586.2
.9
6.7
6.8
.7
-4.2
3.9
1.5
4.0
-3.0
-1.7
4.3
4
-12.8
-7.2
4.4
-1.1
-9.7
-4.3
-6.3
-7.1
3.6
3.3
3.5
Billions of constant (1982) dollars
GNP.,... ..
Personal consumption expenditures
Nonresidential fixed investment
Residential investment
Change in business inventories
Net exports
Government purchases
3,735.2
2,443.1
442.4
196.0
31.0
1342
756.9
3,735.9
2,438,9
446.3
197.5
35.0
1372
755.2
Index numbers,1982=100 '
GNP price index (fixed weights)
GNP price index (chained weights)
GNP implicit price deflator
117.4
117.5
.1
116.2
116.4
.2
3.9
3.8
4.2
1. Not at annual rates.
NOTE.—For the first quarter of 1987, the following revised or additional major source data were incorporated: For personal
consumption expenditures, revised retail sales for February and March; for nonresidential fixed investment, manufacturers'
shipments of equipment for February (revised) and March, construction put in place for January and February (revised) and
March, and partial information on actual plant and equipment expenditures 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 exports and merchandise imports for
March; for government purchases of goods and services, Federal unified budget outlays for March, and State and local construction
month of each quarter), unit-value indexes for petroleum imports for March and for merchandise exports and nonpetroleum
merchandise imports for January and February, and residential housing prices for the quarter.
May 1987
billion larger than the preliminary estimate issued in April. The revision
was largely in nonwithheld income
taxes—declarations (estimated tax
payments) and net settlements (final
tax payments less refunds on the preceding year's taxes)—and resulted
from the incorporation of additional
collections data from the Treasury
Department.)
Expenditures increased $5 billion,
compared to $13 billion in the fourth
quarter. The first-quarter increase reflected several large, partly offsetting
changes in the components. One of
the large increases was in national
defense purchases of goods and services, which had declined in the fourth
quarter. The increase was concentrated in purchases of services, which
were up $6 billion and included $2 billion for a 3-percent military and civilian pay raise, effective January 1,
1987. Subsidies less the current surplus of government enterprises also
recorded a large increase, the net
result of a $13 billion increase in subsidies to farmers and a $5 billion decrease in the deficit of the Commodity
Credit Corporation (CCC). Transfer
payments to persons increased $4 Vfe
billion, including $3V2 billion for a 1.3
percent cost-of-living adjustment for a
number
of programs; the largest—
$2x/2 billion—was for social security
benefits.
Of the declines, the largest was in
nondefense purchases of goods and
services. The $12 billion decline was
accounted for by purchases of agricultural commodities by the CCC. The
nondefense pay raise—$1 billion—was
offset by declines in other purchases.
Transfer payments to foreigners declined $4 billion; the decline was in
both economic and military aid.
Grants-in-aid to State
and local governments declined $lx/2 billion from a
fourth-quarter level that had included
a one-time payment ($2x/2 billion at
an annual rate) to Louisiana in settlement of disputed outer continental
shelf oil revenues. All other grants,
on balance, increased $1 billion; the
largest increase was for highways
($lx/2 billion), and the largest decreases were for education and for
food and nutrition ($¥2 billion each).
Cyclically adjusted surplus or deficit.—When measured using cyclical
adjustments based on middle-expansion trend GNP, the Federal deficit
on the national income and product
May 1987
account basis declined from $196.6 in
the fourth quarter to $189.3 in the
first. The cyclically adjusted deficit as
a percentage of middle-expansion
trend GNP decreased from 4.6 percent in the fourth to 4.4 percent in
the first.
State and local sector.—State and
local government surplus declined $8
billion in the first quarter to $51 ¥2
billion, as expenditures increased
more than receipts. The decline in the
surplus was concentrated in other
funds, which swung from a small surplus in the fourth quarter to a $5x/2
billion deficit in the first; the social
insurance funds surplus declined $1
billion to $57 billion.
Receipts increased $3V2 billion,
compared with $5x/2 billion in the
fourth quarter. Indirect business tax
and nontax accruals—including $1V2
billion for sales tax increases in Nebraska, Texas, and Virginia—and corporate profits tax accruals increased.
Partly offsetting these increases were
declines in Federal grants-in-aid, contributions for social insurance, and
personal tax and nontax receipts. The
decline in contributions was from a
fourth-quarter level that included a
one-time employer contribution ($1.8
billion at an annual rate) to the Los
Angeles County retirement system.
The decline in personal taxes was due
to the indirect effects of TRA on State
and local income taxes.
Expenditures increased $11V2 billion, compared with $10% billion in
the fourth quarter. Most of the increase was in purchases of goods and
services, which increased at about the
same pace as in the fourth quarter.
Excluding the Los Angeles County retirement contribution, which was in-
SURVEY OF CURRENT BUSINESS
largely due to purchases of structures;
construction of highways had declined
in the fourth quarter but resumed an
upward trend in the first.
cluded in compensation in the fourth
quarter, purchases increased
$11 billion, compared with $6x/2 billion in
the fourth quarter. That step-up was
Table 2.—Government Sector Receipts and Expenditures
[Billions of dollars, seasonally adjusted at annual rates]
Level
Change from preceding quarter
1987
1986
II
I
1987:1
I
IV
HI
Government sector
Receipts
>
Expenditures
Surplus or deficit (—)
<
14.5
156
30.1
6.6
54.9
483
36.1
39
40.0
31.1
27.2
3.9
24.4
17.9
6.5
1,409.7
1,532.6
-122.9
.8
53
.6
33
8.8
6.9
5.1
2.4
20
1.4
19.6
10.4
4.1
2.7
2.4
21.4
10.2
8.8
9
3.3
19.3
-1.1
13.1
1.0
6.3
873.8
375.0
106.1
53.4
339.3
12.9
2.8
79
10.7
10.8
11
0
-1.2
-4.0
1.1
14.1
5.5
5.8
-8.6
0
4.9
29
9.1
-12.0
-11.9
.6
4.7
40
17
1.6
7.3
12.6
13.0
5.3
0
1,048.2
369.2
287.9
81.3
-1.5
402.5
392.2
10.3
102.4
137.4
36.8
39.0
24.2
2.2
0
8.5
14.4
-174.4
Federal Government
Receipts
...
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect -business tax and nontax accruals
Contributions for social insurance
..
Expenditures
Purchases of goods and services
National defense
Nondefense
Of which: Commodity Credit Corporation inventory change
Transfer payments
To persons
To foreigners Grants-in-aid to State and local governments
Net interest paid
Subsidies less current surplus of government enterprises
Subsidies...
„
Of which Agricultural subsidies
Less: Current surplus of government enterprises....
Less: Wage accruals less disbursements
:
Surplus or deficit (— )
44.2
-15.3
1.8
11.9
12.0
8.4
1
-6.6
-5.9
-.1
6.3
7.4
5.9
2.8
.4
4.6
3.4
1.1
3.1 ,
-3.4
^21.1
18.5
-17.7
19.1
-17.6
19.1
3.4
.6
0
0
219
-25.2
-1.6
-23.6
-23.1
3.4
8.4
-5.0
1.9
1.1
-3.1
.1
.1
3.2
0
-37.3
22.7
34.9
State and local governments
Receipts
Personal tax and nontax receipts
Corporate profits tax accruals
,
Indirect business tax and nontax accruals
Contributions for social insurance
Federal grants-in-aid
Expenditures
Purchases of goods and services
Of which: Structures
..
Transfer payments to persons
Net interest paid
Less' Dividends received by government
Subsidies.
Less' Current surplus of government enterprises
Less' Wage accruals less disbursements
Surplus or deficit (— )
Social insurance funds
Other
15.7
2.2
-1.2
12.3
.6
1.9
3.2
2.1
1.0
-4.0
.7
3.4
17.7
3.8
1.3
10.8
.7
1.1
5.7
5.8
1.9
_4
2.5
-4.0
3.4
8
1.8
5.2
12
-1.7
638.3
158.1
23.8
305.6
48.4
102.4
8.2
6.2
.4
2.2
.3
.4
2
0
.2
0
14.1
12.3
7.1
2.0
.3
.3
2
0
.3
0
12.5
11.4
4.3
1.9
2
' .3
3
0
.3
0
10.3
8.5
19
2.8
3
.3
3
o'
11.4
9.1
1.4
3.1
-.2
.3
3
0
0
0
586.8
522.2
66.0
113.3
-26.4
7.3
-15.0
.9
15.9
0
7.5
109
5.1
46
8.0
51.5
.6
6.9
.7
-11,6
.7
4.4
2.6
-7.2
12
-6.8
57.1
56
.
.3
NOTE.—Dollar levels are found in the National Income and Product Accounts Tables, tables 3.2 and 3.3.
;3
May 1987
SURVEY OF CURRENT BUSINESS
National Income and Product Accounts Tables
New estimates in this issue: First quarter 1987, revised ( r ).
Estimates for 1929-82 are in The National Income and Product Accounts, 1929-82: Statistical Tables (GPO Stock No. 003-010-00174-7, price
$23.00). Estimates for 1983-85 are in the July 1986 SURVEY. These publications are available from the Superintendent of Documents and Commerce Department District Offices; see addresses inside front cover.
The full set of national income and product accounts estimates shown regularly in this part of the SURVEY are now available on diskette for
$240 per year (12 updates). For more information, write to the Bureau of Economic Analysis (BE—54), U.S. Department of Commerce, Washington, DC 20230.
Table 1.1.—Gross National Product
Table 1.2.—Gross National Product in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1985
1986
1985
1986
I
IV
II
III
rv
Gross national product,
3,998.1 4,206.1 4,087.7 4,149.2 4,175.6 4,240.7 4,258.7
Personal consumption
expenditures
2,600.5 2,762.5 2,667.9 2.697.9 2,732.0 2,799.8 2,820.4
Durable goods .
403.1
359.3 388.1 362.0 360.8 373.9 414.5
Nondurable goods
.....
905.1
932.7 922.6 929.7 928.4 932.8 940.1
Services
.,
,...,...,, 1,336.1 1,441.7 1,383.2 1,407.4 1,429.8 1,452.4 1,477.2
Gross private domestic
investment
...
661.1 683.6 669.5 708.3 687.3 675.8 663.2
Fixed investment
.
650.0 677.0 672.6 664.4 672.8 680.3 690.3
Nonresidential
458.2 460.0 474.0 459.2 457.5 459.0 464.3
Structures
157.2
154.6
154.8 143.3
141.5 139.5 137.5
Producers' durable
equipment
...
303.4 316.7
316.8 304.6 316.0 319.5 326.8
221,3
226.0
198.6
205.3 215.3
191.8 217.0
Change in business
43.8
4 5 -27.1
11.1
6.7
31
14.5
Nonfarm
12.2
16.7
41.2
103 -10.8
.7.7
10.5
11
Farm
2.7
5.8 -16.3
10
19 9
3.9
Net exports of goods and
services
-78.9 104.3 105.3
93.7
104.5
1089 -110.2
Exports
369.8 373.0 368.2 374.8 363.0 370.8 383.5
479.7
493.7
Imports
448.6 477.3 473.6 468.5 467.5
Government purchases of goods
and services
,.., 815.4
864.2 855.6 836.7 860.8 874.0 885.3
Federal .,
,
354.1 366.2 380.9 355.7 367.6 369.3 372.1
National defense.
., 259.4 277.6 268.0 266.4 - 278.4 286.8 278.8
82.6
93.3
112.9
Nondefense
,
,
94.7
89.3
89.2
88.6
State and local
,.,
461,3 498.0 474.7 480.9 493.3 504.7 513.2
Seasonally adjusted at annual rates
1987
r
1985
1986
i
4,348.4
2,850.7
384.6
961.7
1,504.5
I
IV
Gross national product
Personal consumption
expenditures
1987
1986
1985
II
III
IV
V
3,585.2 3,674.9 3,622.3 3,655.9 3,661.4 3,686.4 3,696.1 3,735.9
891.4
369.2
287.9
81.3
522.2
2,324.5 2,418.7 2,351.7 2,372.7 2,408.4 2,448.0 2,445.8 2,438.9
Durable goods
.,,..
343.9 368.6 347.0 345.4 357.1 391.6 380.4 361.3
Nondurable goods
841.6 872.1 847.2 860.6 877.3 875.4 875.1 876.2
Services
1,139.0 1,178.0 1,157.5 1,166.6 1,174.0 1,181.0 1,190.2 1,201.3
Gross private domestic
investment... •. •
647.7 657.2 653.2 684.0 664.7 651.3 629.0 678.9
649.6 651.6 657.4 643.9
Fixed investment .
638.6 650.7 658.4 644.1
Nonresidential
461.4. 456.7 476.9 457.8 456.8 454.4 457.8 446.3
124.0
148.1 132.9 129.5 127.7
Structures .
152.2 134.5 152.4
Producers' durable
equipment.. ..
309.2 322.1 324.5 309.7 323.9 324.9 330.1 322.3
199.7
197.5
194.0
197.2
Residential
.. ...
177.2
181.5 186.3 192.7
Change in business
35.0
15.1
-.3 -28.5
52
39.9
inventories
9.0
6.6
31.3
11.0
-9.8
7.4
16.1
37.0
-8.6
Nonfarm
.. .
10.9
3.8
4.1
213
2.9
8.3 -18.7
Farm .
.9
19
Net exports of goods and
153.9 -163.3 -148.0 -137.2
125.9
services
. . .
108 2 -147.8 132.0
385.8 390.4
Exports
362.3 371.5 362.9 369.2 359.8 371.2
Imports
470.5 519.3 494.8 495.1 513.6 534.5 533.8 527.6
Government purchases of goods
and services
,
721.2
746.8 749.4 725.2 742.2 750.4 769.3 755.2
Federal
. ;
323.6 332.2 347.2 320.4 328.9 330.9 348.6 331.0
National defense
235.7 250.0 239.3 238.7 249.3 259.4 252.5 257.0
79.5
74.0
81.7
71.5
96.1
82.2
107.9
Nondefense
.,
87.8
State and local
, ... 397.6 414.6 402.2 404.8 413.3 419.5 420.7 424.3
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
Table 1.3.—Gross National Product by Major Type of Product
Table 1.4.—Gross National Product by Major Type of Product in
Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
718.1
678.1
451.4
133.9
317.6
226.7
40.0
37.1
2.9
-111.9
391.6
503.4
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1985
1986
1985
IV
Gross national product
Final sales.
Change in business
inventories..
..
. ...
Goods...
Final sales
Change in business
inventories
Durable goods
Final sales
Change in business
inventories
Nondurable goods ... ... .....
Final sales...
Change in business
inventories
Services
., ,,,
..,,,.....
Structures
1986
I
II
III
IV
11.1
6.7
31
43.8
14.5
-4.5 -27.1
40.0
1,630.2 1,670.5 1,644.1 1,669.0 1,661.5 1,680.2 1,671.2 1,723.5
1,619.1 1,663.8 1,647.2 1,625.2 1,647.1 1,684.7 1,698.3 1,683.5
11.1
703.5
696.9
6.7
716.8
717.8
711.8
702,3
43.8
710.6
682.0
14.5
703.1
703.2
-4.5 -27.1
730.1 723.5
745.7 740.4
40.0
746.0
716.1
6.6
926.7
922.2
10
953.7
946.0
9.5
932.3
945.0
28.6
958.4
943.1
1
958.5
943.9
156 -16.9
950.1 947.8
939.0 957.9
29.8
977.5
967.3
14.6
4.5
7.7
127
15.3
11.1 -10.2
10.2
1,959.8 2,105.6 2,025.5 2,057.7 2,087.4 2,125.2 2,152.1 2,190.7
408.1
430.0 418.1 422.6 426.7 435.3 435.3 434.2
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
1986
Ir
3,998.1 4,206.1 4,087.7 4,149.2 4,175.6 4,240.7 4,258.7 4,348.4
3,987.0 4,199.4 4,090.8 4,105.4 4,161.2 4,245.2 4,285.8 4,308.4
-3.1
1985
1987
1985
IV
Gross national product
Final sales
Change in business
inventories
Goods..
Final sales
Change in business
inventories
Durable goods
Final sales
Change in business
inventories
Nondurable goods
Final sales
Change in business
inventories
Services
Structures.,
,
,
1987
1986
I
II
III
IV
V
3,585.2 3,674.9 3,622.3 3,655.9 3,661.4 3,686.4 3,696.1 3,735.9
3,576.2 3,668.4 3,627.5 3,616.1 3,646.3 3,686.7 3,724.5 3,700.8
52
39.9
15.1
9.0
6.6
-.3 -28.5
35.0
1,533.2 1,567.1 1,541.7 1,563.6 1,562.8 1,568.0 1,574.1 1,604.2
1,524.2 1,560.5 1,546.9 1,523.7 1,547.6 1,568.3 1,602.6 1,569.2
9.0
679.0
673.2
6.6
700.2
701.4
-5.2
691.3
682.8
39.9
688.6
662.6
15.1
687.5
688.3
5.9
854.2
851.1
-1.2
866.9
859.1
8.4
850.4
864.0
26.0
875.0
861.1
875.2
859.4
„7
28 5
710.7
726.2
35.0
730.1
703.8
14 4 -15.5
853.8 863.4
839.7 876.4
26.3
874.1
865.4
-.3
714.2
728.6
7.7
3.2
13 6
15.9
13.9
14.1
8.7
13 0
1,667.6 1,718.6 1,692.1 1,703.0 1,712.0 1,727.2 1,732.2 1,746.4
384.4 389.3 388.5 389.4 386.6 391.3 389.7 385.3
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
SURVEY OF CURRENT BUSINESS
May 1987
Table 1.5.—Relation of Gross National Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers
Table 1.6.—Relation of Gross National Product* Gross Domestic
Purchases, and Final Sales to Domestic Purchasers in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1985
1986
I
IV
Gross national product....
Less: Exports of goods and
services
Plus: Imports of goods and
services
Equals: Gross
domestic
purchases l
Less: Change in business
III
II
1986
1985
1987
1986
1985
lr
IV
..... 3,998.1 4,206.1 4,087.7 4,149.2 4,175.6 4,240.7 4,258.7 4,348.4
1986
1985
IV
Gross national product
I
II
1987
III
IV
lr
3,585.2 3,674.9 3,622.3 3,655.9 3,661.4 3,686.4 3,696.1 3,735.9
40.0
14.5 -4.5 -27.1
11.1
6.7
31
43.8
Equals: Final 2sales to domestic
purchasers
.. . 4,065.9 4,303.7 4,196.1 4,199.0 4,265.7 4,354.1 4,396.0 4,420.2
Less: Exports of goods and
services
Plus: Imports of goods and
services
Equals: Gross
domestic
purchases l
Less: Change in business
inventories
Equals: Final2sales to domestic
purchasers
1. Purchases in the United States of goods and services wherever produced.
2. Final sales in the United States of goods and services wherever produced.
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1. '
1. Purchases in the United States of goods and services wherever produced.
2. Final sales in the United States of goods and services wherever produced.
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
Table 1.7.—Gross National Product by Sector
Table 1.9.—Relation of Gross National Product, Net National Product,
National Income, and Personal Income
..
369.8
373.0
368.2
374.8
363.0
370.8
383.5
391.6
448.6
477.3
473.6
468.5
467.5
479.7
493.7
503.4
... 4,077.0 4,310.4 4,193.0 4,242.9 4,280.1 4,349.5 4,368.9 4,460.3
[Billions of dollars]
362.3
371.5
362.9
369.2
359.8
371.2
385.8
390.4
470.5
519.3
494.8
495.1
513.6
534.5
533.8
527.6
3,693.4 3,822.7 3,754.3 3,781.9 3,815.3 3,849.7 3,844.0 3,873.0
9.0
6.6
-5.2
39.9
15.1
-.3 -28.5
35.0
3,684.4 3,816.2 3,759.5 3,742.0 3,800.1 3,850.0 3,872.5 3,838.0
[Billions of dollars]
Seasonally adjusted at annual rates
1985
Gross national product
3,998.1
Gross domestic product
3,957.0
Business
3,394.0
Nonfarm
3,324.0
Nonfarm less housing
... 3,010.9
Housing
313.1
Farm
75.5
Statistical discrepancy
-5.5
Households and institutions
142.1
Private households
9.3
Nonprofit institutions
132.8
Government
420.9
Federal
140.7
State and local
280.1
Rest of the world
.
41.2
Addendum:
Gross domestic business
product less housing
3,072.2
1986
4,206.1
4,168.9
3,570.0
3,498.7
3,158.0
340.6
68.3
3.0
153.1
9.8
143.3
445.9
145.1
300.8
37.1
1987
1986
1985
IV
I
II
III
IV
F
4,087.7
4,045.8
3,468.4
3,389.4
3,065.4
323.9
77.5
1.6
146.2
9.4
136.8
431.2
143.4
287.8
41.9
4,149.2
4,106.0
3,519.9
3,451.7
3,121.5
330.2
71.8
-3.6
149.5
9.5
140.0
436.7
144.0
292.6
43.2
4,175.6
4,140.7
3,546.3
3,470.1
3,132.4
337.7
71.6
4.6
152.0
9.6
142.3
442.5
144.7
297.8
34.9
4,240.7
4,203.2
3,600.7
3,524.0
3,180.1
343.9
66.4
10.3
154.4
9.9
144.5
448.1
145.2
302.9
37.4
4,258.7
4,225.7
3,613.0
3,548.9
3,198.1
350.8
63.5
.6
156.6
10.1
146.5
456.2
146.3
309.8
33.0
4,348.4
4,317.7
3,694.8
3,622.7
3,266.0
356.7
61.3
10.8
159.5
10.2
149.3
463.4
150.0
313.4
30.7
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
Gross national product....
Less: Capital consumption
allowances with capital
consumption adjustment
Capital consumption
allowances without
capital consumption
adjustment
Less: Capital
consumption
adjustment
Equals: Net national product
Less: Indirect business tax and
nontax liability
Business transfer
payments
Statistical discrepancy
Plus: Subsidies less current
surplus of government
enterprises
Equals: National income
Less: Corporate profits with
inventory valuation and
capital consumption
adjustments
Net interest
Contributions for social
insurance.....
Wage accruals less
Table 1.8.—Gross National Product by Sector in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1985
Gross national product
Gross domestic product
Business
Nonfarm
Nonfarm less housing
Housing....
Farm
Statistical discrepancy
Households and institutions
Private households
Nonprofit institutions
Government
Federal
State and local
Rest of the world
Addendum:
Gross domestic business
product less housing
3,585.2
3,548.3
3,071.5
2,998.9
2,735.3
263.6
77.6
-5.0
121.2
9.1
112.2
, 355.5
122.6
232.9
37.0
1986
3,674.9
3,642.4
3,157.4
3,081.3
2,811.0
270.2
73.5
2.6
125.5
9.4
116.1
359.4
123.2
236.2
32.6
1987
1986
1985
IV
I
II
III
IV
I'
3,622.3
3,585.2
3,105.4
3,025.0
2,759.2
265.7
79.0
1.4
122.9
9.1
113.7
356.9
122.6
234.3
37.1
3,655.9
3,617.9
3,135.8
3,061.6
2,794.2
267.4
77.4
-3.2
124.1
9.2
114.9
357.9
122.9
235.0
38.1
3,661.4
3,630.6
3,146.9
3,067.5
2,798.3
269.2
75.3
4.0
125.1
9.3
115.7
358.7
123.0
235.7
30.8
3,686.4
3,653.8
3,168.0
3,087.3
2,816.2
271.2
71.5
9.1
126.0
9.5
116.5
359.8
123.2
236.6
32.7
3,696.1
3,667.2
3,179.0
3,108.7
2,835.5
273.1
69.8
.5
127.0
9.7
117.3
361.3
123.8
237.5
28.9
3,735.9
3,709.3
3,219.5
3,141.4
2,866.1
275.2
68.6
9.5
128.0
9.8
118.3
361.8
123.5
238.3
26.6
2,798.1
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
3,998.1 4,206.1 4,087.7 4,149.2 4,175.6 4,240.7 4,258.7 4,348.4
437.2
455.4
446.7
447.1
453.3
457.6
463.7
468.2
467.3
488.1
478.5
480.0
483.3
489.4
499.8
522.1
32.9
31.8
36.1
53.8
30.0
32.7
30.1
31.9
3,560.9 3,750.6 3,641.0 3,702.1 3,722.3 3,783.1 3,795.0 3,880.2
3314
348.6
3377
3467
340.8
354.2
3528
3591
20.9
-5.5
23.2
3.0
21.7
1.6
22.3
-3.6
22.9
4.6
23.5
10.3
24.1
.6
24.6
10.8
41
10 6
82
74
224
21 8
10
14 8
3,222.3 3,386.4 3,287.3 3 340.7 33764 3,396.1 3 432 3 3,507 4
2807
311 4
3007
294 0
2856
307 6
2964
3049
293 1
297 7
3020
2929
311 2
2804
333 5
2822
355 7
3760
3621
3715
3735
3766
3825
387 6
o
o
o
o
o
o
o
2
Plus: Government transfer
payments to persons
466.2 490.6 471.8 482.4 487.2 495.0 497.8 505.5
Personal interest income.... 476.2 475.0 480.6 480.8 480.1 473.8 465.2 468.0
76.4
Personal dividend income ..
76.7
79.1
81.2
84.1
81.1
82.0
82.7
Business transfer
payments
22 3
232
217
209
229
246
23 5
24 1
Equals: Personal income
3,314.5 3,485.7 3,382.9 3,432.6 3,483.3 3,498.8 3,527.9 3,586.2
Table 1.10.—Relation of Gross National Product, Net National Product,
and National Income in Constant Dollars
[Billions of 1982 dollars]
Gross national product
Less: Capital consumption
allowances with capital
consumption adjustment
Equals: Net national product
Less: Indirect business tax and
nontax liability plus business
transfer payments less
subsidies plus current surplus
of government enterprises
Statistical discrepancy
Equals: National income
3,585.2 3,674.9 3,622.3 3,655.9 3,661.4 3,686.4 3,696.1 3,735.9
425.6 441.0 433.7 434.8 439.1 443.2 447.1 451.0
3,159.6 3,233.9 3,188.6 3,221.1 3,222.3 3,243.3 3,248.9 3,284.9
297.7 313.6 300.6 303.3 312.7 319.3 319.1 313.9
9.5
9.1
.5
2.6
1.4 -3.2
4.0
-5.0
2,866.8 2,917.6 2,886.5 2,920.9 2,905.6 2,914.9 2,929.3 2,961.5
May 1987
SURVEY OF CURRENT BUSINESS
Table 1.16.—Gross Domestic Product of Corporate Business in Current
Dollars and Gross Domestic Product of Nonfinancial Corporate
Business in Current and Constant Dollars
Table 1.11 is on the next page.
Table 1.14.—National Income by Type of Income
Seasonally adjusted at annual rates
[Billions of dollars] ,
1985
1986
1985
IV
National income
Compensation of employees
Wages and salaries
:....
Government and
government enterprises
Other
Supplements to wages and
salaries
Employer contributions for
social insurance
Other labor income
Proprietors' income with
inventory valuation and
capital consumption
adjustments .. .
Farm
. . .
Proprietors' income with
inventory valuation
adjustment
Capital consumption
Nonfarm .
Proprietors' income
Inventory valuation
adjustment
Capital consumption
adjustment
Rental income of persons with
capital consumption
adjustment .
Rental income of persons
Capital consumption
adjustment.
Corporate profits with
inventory valuation and
capital consumption
adjustments .
Corporate profits with
inventory valuation
adjustment
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits
Inventory valuation
adjustment
Capital consumption
adjustment
Net interest
Addenda:
Corporate profits after tax
with inventory valuation
and capital consumption
adjustments
. .
Net cash flow with
inventory valuation and
capital consumption
adjustments........
Undistributed profits with
inventory valuation and
capital consumption
adjustments
Capital consumption
allowances with capital
consumption
adjustment
Less: Inventory valuation
Equals: Net cash flow
1987
1986
I
II
IV
HI
371.9 395.7 381.6 387.2 392.5 398.4 404.4 413.0
1,593.9 1,677.8 1631 1 1,656.8 1,666.3 1,682.7 1,705.4 1,729.7
402.4
424.5
410.9
417.4
421.3
426.3
433.0
435.4
205.5
196.9
215.7
208.8
209.1
201.7
212.9
204.5
214.1
207.3
215.9
210.4
220.1
213.0
220.0
215.4
254.4
29.2
278.8
26.1
262.1
29.4
265.3
24.4
289.1
39.5
277.5
19.6
283.2
21.0
298.2
28.5
38.0
34.3
37.9
32.7
47.9
27.7
29.0
36.4
-8.8
225.2
193.5
82
252.7
217.6
-8.5
232.7
199.1
-8.4
240.9
206.6
-8.3
249.6
215.5
-8.2
258.0
222.8
-8.0
262.2
225.6
-7.8
269.7
230.2
-1.0
-1.1
-1.0
-1.1
-.2
-.9
-.3
-.4
31.9
35.9
34.0
34.7
35.1
36.2
37.6
40.5
7.6
52.4
15.0
60.2
8.3
54.7
12.8
57.2
16.3
61.3
16.2
61.5
14.8
60.6
15.3
62.1
-45.2
-46.4
-44.4
-45.1
-45.3
-45.9
I
II
III
IV
Ir
Billions of dollars
F
3,222.3 3,386.4 3,287.3 3,340.7 3,376.4 3,396.1 3,432.3 3,507.4
2,368.2 2,498.0 2,423.6 2,461.5 2,480.2 2,507.4 2,542.8 2,578.1
,965.8 2,073.5 2,012.8 2,044.1 2,058.8 2,081.1 2,109.8 2,142.7
-44.8
1987
1986
1985
IV
Seasonally adjusted at annual rates
1985
1986
-46.8
280.7
300.7
285.6
296.4
293.1
302.0
311.2
333.5
222.6
223.2
91.8
131.4
81.6
49.8
244.1
237.5
103.5
134.0
87.8
46.2
226.4
235.8
96.4
139.4
82.5
57.0
239.0
222.5
95.7
126.9
85.2
41.7
238.3
227.7
99.0
128.8
87.5
41.2
246.5
240.4
104.4
135.9
88.8
47.2
252.3
259.6
115.1
144.5
89.7
54.8
259.1
266.5
129.9
136.6
91.4
45.2
-.6
6.5
-9.4
16.5
lb'6
6.1
-7.2
-7.4
58.1
311.4
56.6
294.0
59.2
307.6
57.3
304.9
54.8
297.7
55.5
292.9
58.8
280.4
74.4
282.2
1889
197.2
189.2
200.7
194.2
197.6
196.1
203,6
Gross domestic product
2,414.1 2,529.6 2,459.0 2,501.5 2,506.2 2,541.2 2,569.4 2,622.6
of corporate business
Capital consumption allowances
with capital consumption
268.2 280.3 273.3 275.3 278.9 281.6 285.5 287.5
adjustment
Net domestic product
2,145.9 2,249.2 2,185.8 2,226.2 2,227.3 2,259.6 2,283.9 2,335.1
Indirect business tax and
nontax liability plus
business transfer payments
less subsidies
. . . 230.2 240.7 235.0 241.8 234.2 244.9 ^242.0 247.2
Domestic income
.
. .. 1,9157 2,008.5 1,950.8 1,984.4 1,993.1 2,014.7 2,041.9 2,087.9
Compensation of employees- 1,602.8 1,683.2 1,638.4 1,664.7 1,672.0 1,687.7 1,708.4 1,729.3
1,336.7 1,403.7 1,366,7 1,388.9 1,394.4 1,406.9 1,424.7 1,443.4
Wages and salaries
Supplements to wages
266.1 279.5 271.7 275.8 277.6 280.8 283.7 285.9
and salaries
Corporate profits with
inventory valuation and
capital consumption
248.8 265.2 250.5 257.9 260.2 267.3 275.2 298.1
adjustments
191.3 202.0 200.7 184.1 194.8 205.6 223.5 231.1
Profits before tax
129.9
95.7
99.0 104.4 115.1
96.4
91.8 103.5
Profits tax liability
88.4
95.8 101.2 108.5 101.2
98.5 104.3
Profits after tax
99.5
74.9
75.1
77.0
70.4
82.3
69:9
76.2
69.4
Dividends
26.3
33.4
24.2
18.0
13.5
34.3
22.3
30.2
Undistributed profitsInventory valuation
-7.4
6.1 -7.2
16.5
10.6
6.5 -9.4
-.6
adjustment
Capital consumption
74.4
58.8
55.5
57.3
54.8
59.2
56.6
adjustment
58.1
60.4
58.4
59.7
61.8
60.9
60.2
Net interest
64.1
61.9
Gross domestic product
of financial corporate
business..
.
.. . 138.9 167.3 144.9 157.9 164.7 171.2 175.6 179.3
Gross domestic product
of nonfinancial
corporate business
... 2,275.1 2,362.2 2,314.1 2,343.6 2,341.5 2,370.0 2,393.8 2,443.3
Capital consumption allowances
with capital consumption
adjustment
.
252.2 263.1 256.8 258.7 261.9 264.2 267.5 269.3
Net domestic product
... , 2,023.0 2;099.2 2^057.3 2,084.9 2,079.6 2,105.8 2,126.3 2,173.9
Indirect business tax and
nontax liability plus
business transfer payments
216.8 226.7 221.1 227.6 220.1 230.0 229.1 232.3
less subsidies
Domestic income
1,806.1 1,872.5 1,836.2 1,857.4 1,859.5 1,875.8 1,897.2 1,941.7
Compensation of employees- 1,491.5 1,555.5 1,523.5 1,542.8 1,545.7 1,557.0 1,576.4 1,595.3
1,244.1 1,297.4 1,271.0 1,287.4 1,289.2 1,298.2 1,314.8 1,331.8
Wages and salaries
Supplements to wages
247.4 258.1 252.5 255.4 256.5 258.9 261.6 263.5
and salaries
Corporate profits with
inventory valuation and
capital consumption
224.2 230.2 223.3 225.5 225.9 232.7 236.7 259.2
adjustments
Profits before tax
170.3 172.7 177.5 156.3 165.7 176.8 192.1 199.4
99.7
86.7
77.9
68.7
70.3
76.2
66.5
Profits tax liability
71.7
99.7
98.9 105.4
87.6
Profits after tax.
94.0
96.5 107,2
103.8
77.0
74.8
77.5
79.8
74.6
79.4
74.3
Dividends..
85.6
22.7
12.8
Undistributed profits..
27.9
19.1
8.3
32.6
17.0
29.5
Inventory valuation
-7.4
16.5
adjustment
6.1 -7.2
10.6
6.5 -9.4
-.6
Capital consumption
67.2
52.7
adjustment ..
51.8
49.7
55.2
51.0
54.5
49.7
87.2
90.4
Net interest
.
84.2
86.1
87.8
89.1
89.3
86.8
Billions of 1982 dollars
375.4
389.7
380.0
390.8
385.5
390.4
391.9
399.7
107.3
109.4
106.8
115.5
106.6
108.8
106.4
112.2
268.2
280.3
273.3
275.3
278.9
281.6
285.5
287.5
6
376.0
6.5
383.2
94
389.4
16.5
374.3
10.6
374.9
6.1
384.3
72
399.2
74
407.2
Gross domestic product
of nonfinancial
corporate business
Capital consumption allowances
with capital consumption
adjustment ..
Net domestic product.. ..
Indirect business tax and
nontax liability plus
business transfer payments
less subsidies
;.
Domestic income....
2,105.5 2,145.6 2,127.3 2,141.0 2,135.3 2,142.2 2,163.8 2,193.0
249.1 259.4 253.3 255.7 258.3 260.7 263.0 265.3
1,856.4 1,886.2 1,874.0 1,885.3 1,877.0 1,881.6 1,900.8 1,927.8
189.6 .200.2 191.9 192.9 199.3 204.5 204.0 199.7
1,666.7 1,686.0 1,682.2 1,692.4 1,677.7 1,677.1 1,696.7 1,728.1
SURVEY OF CURRENT BUSINESS
May 1987
Table 1.17.—Auto Output
Table 1.11.—Command-Basis Gross National Product in Constant
Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1985
Seasonally adjusted at annual rates
1985
1986
1985
I
Gross national product
Less: Net exports of goods and
services
Exports
Imports
Equals: Gross domestic
purchases
Plus: Command-basis net
exports of goods and services....
Command-basis
exports l
Imports
Equals: Command-basis gross
national product
Addendum:
Terms of trade 2
II
III
r
IV
3,585.2 3,674.9 3,622.3 3,655.9 3,661.4 3,686.4 3,696.1 3,735.9
1082
362.3
470.5
1478
371.5
519.3
1320 -125.9 -153.9 -163.3
362.9 369.2 359.8 371.2
494.8 495.1 513.6 534.5
1372
390.4
527.6
1480
385.8
533.8
3,693.4 3,822.7 3,754.3 3,781.9 3,815.3 3,849.7 3,844.0 3,873.0
-82.7 -113.5 -110.1 -99.0 -114.8 -121.3 -119.2 -117.2
387.8
470.5
405.8
519.3
384.8
494.8
396.1
495.1
398.8
513.6
413.2
534.5
410.3
527.6
414.6
533.8
3,610.6 3,709.2 3,644.2 3,682.9 3,700.4 3,728.4 3,724.8 3,755.8
107.0
109.2
106.1
107.3
110.9
111.4
105.1
107.5
1. Exports of goods and services deflated by the implicit price deflator for imports of goods and
services.
2. Ratio of the implicit price deflator for exports of goods and services to the implicit price
deflator for imports of goods and services with the decimal point shifted two places to the right.
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
Table 1.19.—Truck Output
Final sales
Personal consumption
expenditures
Producers' durable equipment..
Net exports of goods and
Exports
Imports
Government purchases of
goods and services
Change in business inventories...
1985
III
II
I
IV
V
56.7
56.5
57.8
57.0
54.7
49.6
56.5
55.8
57.2
62.2
58.4
58.5
61.4
55.7
22.6
32.3
26.3
32.0
23.2
35.2
21.2
29.9
25.4
32.4
32.2
33.6
26.6
32.0
25.8
32.5
67
2.7
9.4
75
3.0
10.4
74
3.0
10.5
-7.6
2.8
10.4
-7.4
3.1
10.6
88
2.8
11.6
-6.0
3.2
9.2
81
3.0
11.1
5.8
.1
5.7
.2
6.1
.8
6.1
5.4
.7
5.3
-5.0
5.9
-.1
5.4
5.7
5.1
Seasonally adjusted at annual rates
Truck output
Final sales
Personal consumption
expenditures
Producers' durable equipment..
Net exports of goods and
Exports
Imports
Government purchases of
goods and services
Change in business inventories...
1. Includes new trucks only.
116.8
90.4
140.1 127.6 106.6
81.1
118.3 103.8
21.8
23.8
25.5
28.0
23.3
28.0
46.9
48.0
41.8
-20.0 -18.8 -18.5
-42.7 -44.1
5.9
6.1
48.8
50.1
41.3
5.7
47.0
1.5
1.8
1.9
-14.8
-20.8
5.9
8.1
7.1
1.0
26.4
26.7
-.3
94.4
57.4
104.0
60.2
108.5
42.6
1. Consists of final sales and change in business inventories of new autos assembled in the
United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases.
1987
1986
1985
I
II
III
IV
49.2
49.1
49.4
49.2
51.6
50.9
48.4
44.0
49.5
48.9
49.8
54.1
49.8
49.9
52.5
47.7
20.7
29.3
23.1
27.7
21,0
31.2
19.0
26.4
22.4
28.3
28.1
29.0
22.9
27.2
22.1
27.9
-6.1
2.5
8.6
-6.5
2.6
9.1
-6.7
2.7
9.4
-6.8
2.5
9.3
-6.6 • -1.1
2.4
2.7
9.3
10.1
-5.1
2.7
7.9
69
2.6
9.5
5.3
4.9
.2
5.4
.7
5.4
4.4
4.6
-4.2
5.0
-.1
4.6
4.8
4.8
.6
1985
1986
IV
1987
1986
1985
I
II
III
IV
F
1. Consists of final sales and change in business inventories of new autos assembled in the
United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases.
[Billions of 1982 dollars]
1
121.4
113.3
F
Table 1.20.—Truck Output in Constant Dollars
IV
112.0
126.8
lr
Auto output
98.3 106.4 106.6
104.6 102.4 102.7 103.2 101.6
Final sales
81.1
97.3 115.1 100.6
97.1
92.0
101.5 102.5
Personal consumption
98.7 101.5 122.4 109.5
90.7
99.4
expenditures
103.3 108.0
69.7
89.3
80.5 103.6
77.2
75.0
80.1
New autos
87.6
21.5
20.2
18.8
21.0
20.4
23.2
Net purchases of used autos..
21.0
24.3
24.6
25.4
25.1
23.7
24.1
Producers' durable equipment..
20.8
22.5
24.7
40.3
42.0
37.5
New autos
35.9
40.6
36.0
40.1
39.2
Net purchases of used autos.. -15.1 -15.4 -13.5 -13.8 -15.6 -16.6 -15.7 -15.1
Net exports of goods and
341 -35.2 -32.1
306
275
services
31 8 -31.4 -27.4
5.0
5.8
Exports
4.7
5.1
5.7
5.5
5.4
5.4
Imports
40.1
39.2
36.3
33.2
36.9
37.2
32.9
36.8
Government purchases of
1.4
2.1
goods and services..
1.6
1.4
1.5
1.6
1.5,
1.7
Change in business inventories
of new and used autos
6.1
-.1
3.1
25.5
5.9
168
4.3
10.7
New6.0
5.0
1.8 -21.7
13.6
3.2 -2.2
25.8
1
2
Used
.8
4.9
2.4
.1
2.1 -3.0
Addenda:
Domestic1 output of new
autos ..
88.5
84.2
80.0
88.6
85.1
85.3
87.0
96.6
Sales of imported new autos 2...
51.8
42.8
50.3
40.3
45.0
46.3
41.3
36.6
1. Includes new trucks only.
1986
IV
Seasonally adjusted at annual rates
1987
1986
54.2
54.0
1985
1987
III
[Billions of 1982 dollars]
IV
Truck output l
II
Auto output
114.1 114.8 113.3 113.2 112.7
Final sales
110.1 112.9 100.6 105.3 106.2
Personal consumption
expenditures
115.3 123.5 111.6 111.1 115.2
85.7
90.8
New autos
82.7
87.2
99.7
24.4
Net purchases of used autos..
25.4
28.9
28.1
23.8
24.1
26.6
22.6
Producers' durable equipment ..
23.2
26.7
41.7
45.8
New autos
39.7
42.7
45.6
Net purchases of used autos.. -19.5 -18.9 -17.1 -17.6 -19.3
Net exports of goods and
37 1
services
300
390 -35.3 -32.1
6.6
Exports...
6.6
6.2
6.1
6.3
38.7
Imports....
43.7
41.4
36.1
45.3
Government purchases of
2.2
1.5
1.6
goods and services
1.6
1.8
Change in business inventories
7.9
6.5
of new and used autos
12.7
4.0
1.9
New
7.8
3.5
16.4
4.1
6
.1
Used
3.0
37
-.1
2.5
Addenda:
Domestic1 output of new
98.8
95.7
98.2
autos ....
94.8
95.3
44.7
48.3
Sales of imported new autos 2...
49.5
45.0
52.7
Seasonally adjusted at annual rates
1986
I
Table 1.18.—Auto Output in Constant Dollars
[Billions of dollars]
1985
1986
1985
IV
1987
1986
IV
1986
May 1987
SURVEY OF CURRENT BUSINESS
8
Table 2.2.—Personal Consumption Expenditures by Major Type of
Product
Table 2.1.—Personal Income and Its Disposition
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
1985
1986
1985
IV
I
III
II
Seasonally adjusted at annual rates
1987
1986
IV
1985
P
1986
I
IV
Personal income
3,314.5 3,485.7
Wage and salary
disbursements
1,966.1 2,073.5
Commodity-producing
industries
607.7 623.2
Manufacturing
460.1 471.2
Distributive industries
469.8 487.9
Service industries
516.4 566.7
Government and
government enterprises ...... 372.2 395.7
Other labor income
196.9 208.8
Proprietors' income with
inventory valuation and
capital consumption
adjustments.
.. 254.4 278.8
Farm
26.1
29.2
Nonfarm
225.2 252.7
Rental income of persons
with capital consumption
adjustment
15.0
7.6
Personal dividend income.........
76.4
81.2
Personal interest income
476.2 475.0
Transfer payments
487.1 513.8
Old-age, survivors,
disability, and health
insurance benefits
253.4 266.8
Government unemployment
insurance benefits
15.7
16.3
Veterans benefits
16.7
16.8
Government employees
retirement benefits
66.6
70.6
134.6 143.4
Other transfer payments
Aid to families with
dependent children
15.4
16.2
Other
119.2 127.2
Less: Personal contributions
for social insurance
150.2 160.3
Less: Personal tax and nontax
payments
486.5 514.1
Equals: Disposable personal
income
2,828.0 2,971.6
Less: Personal outlays.
2,684.7 2,857.4
Personal consumption
expenditures
2,600.5 2,762.5
Interest paid by consumers to
business
82.6
93.5
Personal transfer payments to
foreigners (net)
1.6
1.4
Equals: Personal saving
143.3 .114.2
Addenda:
Disposable personal income:
Total, billions of 1982
dollars
Per capita:
Current dollars
1982 dollars
Population (mid-period,
millions) ..
Personal saving as
percentage of disposable
personal income
II
III
IV
r
3,382.9 3,432.6 3,483.3 3,498.8 3,527.9 3,586.2
2,012.8 2,044.1 2,058.8 2,081.1 2,109.8 2,142.7
617.7
467.5
478.9
534.6
622.0
470.5
485.2
549.6
620.8
468.8
484.3
561.3
621.8
470.0
488.3
572.6
628.3
475.4
493.9
583.2
633.0
478.0
500.9
595.9
381.6
201.7
387.2
204.5
392.5
207.3
398.4
210.4
404.4
213.0
413.0
215.4
262.1
29.4
232.7
265.3
24.4
240.9
289.1
39.5
249.6
277.5
19.6
258.0
283.2
21.0
262.2
298.2
28.5
269.7
8.3
76.7
480.6
493.6
12.8
79.1
480.8
504.7
16.3
81.1
480.1
510.1
16.2
82.0
473.8
518.5
14.8
82.7
465.2
521.8
15.3
84.1
468.0
530.2
256.8
263.2
264.1
269.6
270.2
273.7
15.3
16.4
15.5
17.0
16.3
17.0
16.9
16.7
16.5
16.4
16.1
16.7
68.0
137.1
69.1
140.0
70.1
142.7
71.0
144.3
72.1
146.7
73.6
150.1
15.7
121.3
16.0
124.0
16.2
126.5
16.3
127.9
16.4
130.2
16.3
133.8
152.9
158.6
159.5
160.8
162.4
167.7
500.7
497.5
504.8
519.0
534.9
533.1
2,882.2 2,935.1 2,978.5 2,979.9 2,993.0 3,053.1
2,756.4 2,789.4 2,825.5 2,895.8 2,918.8 2,949.1
2,667.9 2,697.9 2,732.0 2,799.8 2,820.4 2,850.7
87.0
89.8
92.3
94.9
96.9.
96.8
1.6
125.8
1.7
145.6
1.2
153.1
1.2
84.1
1.4
74.2
1.6
104.0
2,528.0 2,602.0 2,540.7 2,581.2 2,625.8 2,605.5 2,595.4 2,612.0
11,817 12,304 11,999 12,193 12,348 12,324 12,348 12,572
10,563 10,773 10,577 10,723 10,886 10,776 10,708 10,755
239.3
241.5
240.2
240.7
241.2
241.8
242.4
242.9
5.1
3.8
4.4
5.0
5.1
2.8
2.5
3.4
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
1987
1986
1985
Personal consumption
expenditures
Durable goods
Motor vehicles and parts
Furniture and household
equipment.
Other
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Other nondurable goods
Fuel oil and coal ..
Other.
Services
Housing.
Household operation
Electricity and gas
Other
Transportation.
Medical care.
Other .
2,600.5 2,762.5 2,667.9 2,697.9 2,732.0 2,799.8 2,820.4 2,850.7
359.3 388.1 362.0 360.8 373.9 414.5 403.1 384.6
169.2 181.7 166.4 163.5 172.0 204.7 186.6 165.3
126.8 137.3 130.9 132.1 135.8 140.0 141.2 143.7
75.7
75.3
66.0
69.8
64.7
65.3
63.3
69.1
905.1 932.7 922.6 929.7 928.4 932.8 940.1 961.7
469.3 492.8 477.4 484.6 490.3 494.0 502.1 509.4
155.2 164.9 158.7 161.3 165.0 166.6 166.8 171.2
77.5
74.3
78.1
74.2
78.6
93.0
91.9
87.6
188.7 196.5 193.5 196.2 194.9 198.0 196.9 203.5
13.1
13.7
13.7
13.3
15.7
13.9
16.2
14.9
172.9 182.6 177.3 181.3 181.2 184.3 183.6 190.4
1,336.1 1,441.7 1,383.2 1,407.4 1,429.8 1,452.4 1,477.2 1,504.5
403.9 438.4 417.4 424.8 434.7 442.8 451.6 459.1
175.0 178.4 178.3 174.3 177.6 181.7 180.1 176.1
83.4
89.2
87.9
86.9
87.6
91.3
86.3
89.9
92.8
92.2
92.5
87.0
90.6
90.8
88.0
85.1
95.0
96.8
98.6 102.3
96.0
90.9
93.5
88.7
290.1 316.0 302.5 307,9 312.3 318.1 325.6 332.2
378.4 412.9 394.1 406.9 410.3 413.0 421.4 434.8
Table 2.3.—Personal Consumption Expenditures by Major Type of
Product in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1985
1986
IV
Personal consumption
expenditures
Durable goods
Motor vehicles and parts
Furniture and household
equipment
Other
Nondurable goods
Food.
.
Clothing and shoes
Gasoline and oil
Other nondurable goods
Fuel oil and coal
Other
Services
!'....'....
Housing
Household operation
Electricity and gas
Other
Transportation
Medical care
Other
1987
1986
1985
I
II
III
IV
r
2,324.5 2,418.7 2,351.7 2,372.7 2,408.4 2,448.0 2,445.8 2,438.9
343.9 368.6 347.0 345.4 357.1 391.6 380.4 361.3
156.2 163.6 152.9 149.6 156.0 183.5 165.3 145.8
127.7 140.5 133.0 134,3 139.1 143.3 145.2 146.1
69.4
62.1
70.0
64.9
64.6
61.2
61.5
59.9
841.6 872.1 847.2 860.6 877.3 875.4 875.1 876.2
444.2 437.9 438.7 442.3
433.4 440.5 435.1 4411
..
146.0 155.6 147.5 152.4 157.1 157.7 155.3 157.8
96.4
96.9 105.4 107.3 110.2 103.3
95.7 104.9
166.5 171.1 168.2 170.2 170.5 172.6 170.9 172.9
18.7
17.0
18.3
19.9
19.6
17.8
17.0
....
17.0
149.5 152.4 151.2 153.2 152.3 152.7 151.4 155.0
1,139.0 1,178.0 1,157.5 1,166.6 1,174.0 1,181.0 1,190.2 1,201.3
342.7 351.4 345.5 347.6 350.2 352.6 355.1 357.6
151.4 150.9 153.6 148.5 150.1 152.4 152.6 149.0
73.7
80.1
75.8
77.4
78.0
76.6
78.3
75.1
74.4
75.3
74.3
75.1
74.7
73.5
73.4
73.1
88.4
85.0
84.3
86.0
86.3
81.0
82.6
83.3
237.8 245.9 241.3 243.0 245.0 246.7 248.8 250.8
326.2 344.9 334.5 344.3 344.5 343.2 347.4 355.5
SURVEY OF CURRENT BUSINESS
May 1987
Table 3.2.—Federal Government Receipts and Expenditures
Table 3.3.—State and Local Government Receipts and Expenditures
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
1985
1986
1985
1986
I
IV
Receipts
.
786.8
Personal tax and nontax
receipts *
Income taxes
Estate and gift taxes
Nontaxes
826.9
805.8
II
806.6
813.5
Seasonally adjusted at annual rates
1987
III
IV
833.1
854.5
873.8
361.9
354.0
7.1
.9
355.6
348.6
6.3
.8
350.3
343.1
6.4
.8
355.5
347.1
7.6
.8
365.8
357.7
, 7.4
.8
376.1
368.1
7.0
1.0
375.0
367.0
7.1
.9
Corporate profits tax accruals
Federal Reserve banks
Other
73.6
17.8
55.8
83.8
15.9
68.0
77.2
17.3
59.9
77.8
16.6
61.1
80.1
15.8
64.3
84.3
15.2
69.1
93.0
15.7
77.3
106.1
16.1
90.1
Indirect business tax and
nontax accruals 2
Excise taxes
Customs duties
Nontaxes
56.1
35.5
12.2
8.4
52.3
31.8
13.6
6.8
56.0
36.6
12.6
6.8
52.7
32.9
13.1
6,6
50.7
31.1
13.3
6.3
52.5
53.4
31.5 , 31.7
14.2
13.9
6.9
7,6
53.4
31.7
14.5
7.3
311.5
328.9
317.0
325.8
327.2
332.9
339.3
984.9 1,030.3 1,023.4 1,001.5 1,045.7 1,030.5 1,043.4 1,048.2
Expenditures
354.1
259.4
94.7
Purchases of goods and services...
National defense..
..
Nondefense.
...
Transfer payments
To persons
To foreigners
380.3
367.0
13.4
Grants-in-aid to State and local
governments
Net interest paid ...;
Interest paid
:
To persons and business
To foreigners
Less: Interest received by
government
329.6
.. .
..
Less: Wage accruals less
disbursements
355.7
266.4
89.3
397.7
383.9
13.8
385.9
370.4
15.4
389.3
378.8
10.5
367.6
278.4
89.2
369.3
286.8
82.6
372.1
278.8
93.3
369.2
287.9
81.3
396.7
381.6
15.0
403.0
387.5
15.5
401.8
387.5
14.3
402.5
392.2
10.3
99.0
105.6
101.6
103.5
106.9
108.0
104.1
102.4
135.9
158.1
135.7
22.4
133.9
155.7
134.2
21.5
135.0
157.8
134.9
22.8
138.1
160.2
138.0
22.2
134.7
157.8
135.0
22.8
135.9
156.7
135.0
21.7
137.4
158.1
136.1
22.0
22.2
20.7
22.2
24.9
26.4
1.5
1.5
2
Surplus or deficit (-),
national income and
product accounts
380.9
268.0
112.9
130.5
152.1
130.8
21.3
21.6
Subsidies less current surplus of
government enterprises
Subsidies
Less: Current surplus of
government enterprises
366.2
277.6
88.6
0
21.8
21.1
19.5
22.8
23.0
18.0
19.6
36.5
38.7
15.4
20.9
1:6
2.2
5.5
0
0
0
-1.6
0
22.1
20.8
29.5
26.4
20.7
36.8
39.0
-3.1
2.2
0
0
-198.0 -203.3 -217.6 -195.0 -232.2 -197.4 -188.8 -174.4
19.2
15.1
11.0
209 1 -222.6 -232.7
Social insurance funds
Other
18.5
2135
21.8
19.3
17.3
251 5 -214.6 -210.6
1986
Ir
345.6
338.4
6.5
.7
Contributions for social
insurance
1985
26.1
200 5
Receipts
Income taxes
Nontaxes
Other
Corporate profits tax accruals
Indirect business tax and
nontax accruals
II
I
IV
Personal tax and nontax
receipts
1987
1986
1985
III
IV
r
577.5
620.9
592.7
608.3
611.5
629.1
634.9
638.3
140.9
152.1
145.1
147.2
149.3
153.1
158.9
158.1
72.2
56.8
11.8
76.9
62.5
12.7
74.0
59.0
12.1
74.5
60.4
12.4
74.9
61.8
12.6
77.1
63.2
12.8
81.2
64.5
13.1
78.8
66.0
13.3
18.2
19.7
19.2
17.9
18.8
20.1
22.0
23.8
275,4
296.3
281.8
294.1
290.1
300.8
300.4
305.6
Sales taxes
Property taxes... .
Other
129.0
107.2
39.1
138.1
115.6
42.6
131.4
110.4
39.9
133.4
112.5
48.1
135.7
114.6
39.8
141.4
116.6
42.7
141.7
118.8
39.9
144.6
121.0
40.0
Contributions for social
insurance
44.2
47.1
45.1
45.7
46.3
47.0
49.5
48.4
Federal grants-in-aid
99.0
105.6
101.6
103.5
106.9
108.0
104.1
102.4
515.8
557.9
530.2
538.5
552.6
565.1
575.4
586.8
461.3
498.0
474.7
480.9
493.3
504.7
513.2
522.2
Compensation of employees
Other
280.1
181.1
300.8
197.2
287.8
186.9
292.6
188.3
297.8
195.5
302.9
201.8
309.8
203.3
313.4
208.8
Transfer payments to persons
99.2
106.7
101.4
103.6
269
260
-26.4
26 1
105.6
257
-25.9
42.6
48.4
44.8
46.2
47.6
49.1
50.6
52.2
69.5
74.4
71.2
72.2
73.4
75.0
76.9
78.6
5.2
6.6
5.7
6.1
6.4
6.8
7.0
7.3
Expenditures
Purchases of goods and services...
Interest paid
Less: Interest received by
government
Less: Dividends received by
government
107.5
110.2
-26.2
113.3
-26.4
Subsidies less current surplus of
12 6
Subsidies
Less: .Current surplus of
government enterprises
Less: Wage accruals less
disbursements
Surplus or deficit ('-),
national income and
product accounts
Social insurance funds
Other
143 -13.7
139
14 1 -14.4
-14.7
-15.0
.7
.8
.7
.8
.8
.8
.9
.9
13.2
15.1
14.5
14.7
14.9
15.2
15.6
15.9
0
0
0
0
0
0
0
0
61.7
63.1
62.5
69.9
58.9
64.0
59.4
51.5
52.7
9.0
55.8
7,2
53.7
8.8
54.3
15.6
55.0
3.9
55.7
8.3
58.3
1.1
57.1
56
Table 3.7B.—Government Purchases of Goods and Services by Type
Table 3.8B.—Government Purchases of Goods and Services by Type in
Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1985
1986
IV
Government purchases of
goods and services
Federal
National defense
Durable goods
Nondurable goods
Services..
Compensation of
employees
Military
Civilian
Other services
Structures
Nondefense
Durable goods
Nondurable goods ...,,
Commodity Credit
Corporation inventory
change
Other nondurables.
Services
Compensation of
employees
Other services
Structures
,
,
State and local
Durable goods
Nondurable goods
Services
Compensation of employees..
Other services
Structures
I
II
Seasonally adjusted at annual rates
1987
1986
1985
III
IV
1985
1986
r
815.4
864.2
855.6
836.7
860.8
874.0
885.3
891.4
354.1
366.2
380.9
355.7
367.6
369.3
372.1
369.2
259.4
74.9
12.2
166.1
277.6
82.5
10.9
177.5
268.0
76.6
11.8
173.4
266.4
75.7
11.8
172.5
278.4
83.6
11.0
177.3
286.8
86.3
10.5
182.4
278.8
84.3
10.1
177.6
287.9
87.1
10.1
183.7
101.1
67.8
33.3
65.0
6.1
104.6
70.4
34.2
72.9
6.8
103.4
69.7
33.7
70.0
6.1
103.9
70.0
33.8
68.7
6.3
104.4
70.3
34.1
72.9
6.5
104.7
70.5
34.3
77.7
7.6
105.5
71.0
34.5
72.1
6.7
108.1
72.6
35.4
75.7
7.0
94.7
4.1
17.2
88.6
4.2
10.8
112.9
4.5
33.2
89.3
4.3
11.1
89.2
4.3
11.2
82.6
4.2
5.1
93.3
4.1
15.9
81.3
4.0
3.9
11.3
5.9
66.0
5.3
5.5
66.6
28.7
4.5
68.0
5.6
5.5
66.7
5.5
5.7
66.4
4
5.5
66.7
10.4
5.5
66.6
-1.5
5.4
66.5
39.6
26.4
7.4
40.5
26.2
6.9
40.0
28.0
7.2
40.2
26.6
7.2
40.3
26.1
7.2
40.5
26.2
6.5
40.8
25.8
6.7
41.9
24.6
6.9
461.3
498.0
474.7
480.9
493.3
504.7
513.2
522.2
20.8
38.7
348.3
280.1
68.2
53.5
22.7
37.4
375.9
300.8
75.1
62.0
21.5
40.0
358.6
287.8
70.8
54.6
21.9
38.7
365.4
292.6
72.7
55.0
22.4
36.7
372.0
297.8
74.3
62.1
22.9
36.6
378.8
302.9
76.0
66.4
23.6
37.6
387.4
309.8
77.6
64.6
23.9
39.6
392.7
313.4
79.3
66.0
IV
Government purchases of
goods and services
Federal
National defense
Durable goods
Nondurable goods
Services
Compensation of
employees
Military
Civilian...
..
Other services
Structures
. ..
Nondefense
Durable goods
Nondurable goods
Commodity Credit
Corporation inventory
change
Other nondurables
Services
Compensation of
employees
Other services
Structures
State and local
Durable goods
Nondurable goods
Services
Compensation of employees...
Other services
Structures
1987
1986
1985
I
II
III
IV
r
721.2
746.8
749.4
725.2
742.2
750.4
769.3
755.2
323.6
332.2
347.2
320.4
328.9
330.9
348.6
331.0
235.7
70.4
13.6
146.3
250.0
77.2
14.6
152.3
239.3
70.8
': 13.1
150.0
238.7
71.3
13.3
148.5
249.3
77.1
14.5
152.1
259.4
81.0
15.5
156.4
252.5
79.6
15.1
152.0
257.0
82.0
14.5
154.5
88.3
59.5
28.9
58.0
5.5
88.8
59.7
29.1
63.4
5.9
88.4
59.5
28.9
61.6
5.4
88.6
59.6
28.9
60.0
5.6
88.6
59.5
29.1
63.5
5.7
88.8
59.7
29.1
67.6
6.5
89.2
60.0
29.2
62.8
5.8
89.1
59.9
29.1
65.4
6.0
87.8
4.6
18.2
82.2
5.3
13.0
107.9
5.2
36.6
81.7
5.2
11.8
79.5
5.4
10.0
71.5
5.4
2.6
96.1
5.3
27.5
74.0
5.2
6.6
12.3
5.9
58.2
7.7
5.3
57.7
32.3
4.3
59.5
6.4
5.4
58.1
4.5
5.4
57.6
-2.5
5.1
57.7
22.2
5.3
57.3
1.4
5.2
56.0
34.3
23.9
6.8
34.4
23.3
6.3
34.3
25.2
6.6
34.3
23.8
6.6
34.4
23.3
6.6
34.4
23.3
5.9
34.6
22.7
6.1
34.4
21.6
6.2
397.6
414.6
402.2
404.8
413.3
419.5
420.7
424.3
19.5
39.0
290.9
232.9
58.0
48.2
20.9
41.5
297.4
236.2
61.2
54.8
20.1
40.1
293.6
234.3
59.3
48.5
20.4
40.6
295.0
235.0
60.0
48,7
20.7
41.2
296.5
235.7
60.8
54.9
21.1
41.8
298.2
236.6
61.6
58.5
21.4
42.4
299.9
237.5
62.4
56.9
21.8
43.0
301.6
238.3
63.3
57.9
May 1987
SURVEY OF CURRENT BUSINESS
10
Table 3.10.—National Defense Purchases of Goods and Services in
Constant Dollars
Table 3.9.—National Defense Purchases of Goods and Services
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1985
1986
1985
II
Seasonally adjusted at annual rates
1987
1986
I
IV
III
1985
F
IV
1986
I
Nondurable goods
Petroleum products
Ammunition
Other nondurable goods
Services
...i.
Compensation of employees
Military
Civilian
Other services
Contractual research and
development
,
1
Installation support
Weapons support 2 3
Personnel support
Transportation of materiel ....
Travel of persons
Other
Structures
Military facilities
Other
259.4
74.9
64.0
25.9
9.7
8.5
4.7
4.9
10.4
10.9
12.2
6.6
3.2
2.4
166.1
101.1
67.8
33.3
65.0
277.6
82.5
70.8
31.6
12.2
8.7
4.9
5.0
8.3
11.7
10.9
4.3
4.0
2.5
177.5
104.6
70.4
34.2
72.9
268.0
76.6
65.6
28.1
10.4
8.8
4.4
4.9
9.0
11.0
11.8
6.2
3.2
2.4
173.4
103.4
69.7
33.7
70.0
266.4
75.7
64.2
28.1
10.7
8.0
4.5
4.6
8.3
11.6
11.8
6.3
3.2
2.3
172.5
103.9
70.0
33.8
68.7
278.4
83.6
71.6
30.6
13.2
9.1
4.9
5.0
8.7
12.0
11.0
4.1
4.3
2.6
177.3
104.4
70.3
34.1
72.9
286.8
86.3
74.4
32.4
13.3
9.3
4.9
5.0
9.5
11.9
10.5
3.5
4.4
2.6
182.4
104.7
70.5
34.3
77.7
278.8
84.3
73.0
35.4
11.8
8.3.
5.4
5.4
6.7
11.4
10.1
3.3
4.3
2.5
177.6
105.5
71.0
34.5
72.1
287.9
87.1
75.6
33.9
11.9
8.4
5.4
5.8
10.3
11.4
10.1
3.6
4.0
2.5
183.7
108.1
72.6
35.4
75.7
27.3
16.9
7.5
5.7
3.8
3.5
.2
6.1
3.5
2.6
31.7
18.0
8.2
7.2
4.0
3.6
.2
6.8
4.1
2.7
29.7
17.2
8.2
6.8
4.3
3.7
.2
6.1
3.7
2.4
28.7
17.4
7:7
6.9
4.1
3.4
.5
32.2
17.8
7.8
7.0
3.9
3.6
.5
6.5
3.7
2.7
33.9
19.2
8.9
8.1
4.1
3.8
3
7.6
4.9
2.6
31.9
17.5
8.1
6.9
3.9
3.6
.2
6.7
4.3
2.5
33.1
18.9
8.6
7.9
3.9
3.7
-.5
7.0
4.3
2.7
6;3
3.6
2.8
1. Includes utilities, communications, rental payments, maintenance and repair, and payments
to contractors to operate installations.
2. Includes depot maintenance and contractual services for weapons systems, other than
research and development.
3. Includes compensation of foreign personnel, consulting, training, and education.
Table 4.1.—Foreign Transactions in the National Income and Product
Accounts
National defense
purchases . .
Durable goods .
Military equipment
Aircraft
Missiles
Ships
Vehicles
Electronic equipment
Other
Other durable goods
Nondurable goods
Petroleum products
Ammunition.:
.
Other nondurable goods
Services
,
Compensation of employees..
Military
Civilian
Other services..
Contractual research and
development
1
Installation support
Weapons support 2....
3
Personnel support
Transportation of materiel ...
Travel of persons
Other
Structures
Military facilities.
Other
235.7
70.4
58.8
22.6
9.2
7.5
5.3
4.6
9.7
11.6
13.6
8.4
2.9
2.2
146.3
88.3
59.5
28.9
58.0
250.0
77.2
63.6
26.3
11.9
7.6
5.3
4.7
7.8
13.7
14.6
8.5
3.8
2.3
152.3
88.8
59.7
29.1
63.4
239.3
70.8
58.6
23.3
9.9
7.7
4.6
4.6
8.5
12.2
24.1
14.4
6.7
5.2
3.9
3.4
.2
5.5
3.2
2.4
27.6
14.9
7.2
5.9
4.1
3.6
.2
26.0
14.5
7.2
5.8
4.4
3.6
.1
5.9
3.5
2.3
5.4
3.3
2.2
13.1
7.9
2.9
2.2
150.0
88.4
59.5
28.9
61.6
III
IV
238.7
71.3
58.0
23.4
10.5
6.9
5.0
4.3
7.8
13.2
13.3
8.1
3.0
2.1
148.5
88.6
59.6
28.9
60.0
249.3
77.1
63.2
24.4
12.6
7.9
5.4
4.7
8.2
14.0
14.5
8.0
4.1
2.4
152.1
88.6
59.5
29.1
63.5
259.4
81.0
67.0
27.5
12.5
8.2
5.3
4.7
8.9
14.0
15.5
9.0
4.2
2.4
156.4
88.8
59.7
29.1
67.6
252.5
79.6
66.1
29.8
12.2
7.3
5.7
5.0
6.2
13.4
15.1
8.8
4.1
2.2
152.0
89.2
60.0
29.2
62.8
257.0
82.0
68.3
28.6
11.7
7.4
5.7
5.4
9.5
13.7
14.5
8.4
3.9
2.3
154.5
89.1
59.9
29.1
65.4
24.9
14.5
6.8
5.7
4.1
3.4
.4
5.6
3.1
2.5
28.1
14.7
6.9
5.7
4.0
3.6
.4
29.6
15.9
7.9
6.6
4.2
3.8
-.3
6.5
4.2
2.3
27.9
14.6
7.2
5.5
3.9
3.5
.1
28.9
15.7
7.6
6.2
3.9
3.5
4
5.8
3.6
2.2
6.0
3.7
2.3
Table 4.2.—Exports and Imports of Goods and Services in Constant
Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1986
1985
IV
Receipts from foreigners ...
Exports of goods and services
Merchandise.
Durable goods
Nondurable goods
Services
Factor income 1
Other
Capital grants received by the
United States (net)
Payments to foreigners
Imports of goods and services
I
II
Seasonally adjusted at annual rates
1987
1986
III
IV
369.8
369.8
219.6
133.3
86.3
150.2
91.2
58.9
373.0
373.0
220.2
136.0
84.2
152.8
89.0
63.8
368.2
368.2
216.2
131.0
85.2
152.0
92.3
59.7
374.8
374.8
219.7
133.3
86.3
155.2
94.7
60,5
363.0
363.0
212.5
132.5
79.9
150.6
88.2
62.4
370.8
370.8
219.2
136.1
83.1
151.6
87.3
64.3
383.5
383.5
229.6
142.1
87.4
153.9
86.0
67.9
391.6
391.6
235.3
145.6
89.7
156.3
86.2
70.1
0
369.8
448.6
341.7
204.4
137.3
106.9
50.1
56.9
15.0
1.6
13.4
0
373.0
477.3
368.4
238.4
130.0
109.0
51.9
57.1
15.2
1.4
13.8
0
368.2
473.6
363.8
215.9
147.9
109.8
50.5
59.3
17.0
1.6
15.4
0
374.8
468.5
358.9
224.4
134.5
109.6
51.5
58.1
12.2
1.7
10.5
0
363.0
467.5
358.9
235.5
123.4
108.7
53.3
55.4
16.3
1.2
15.0
0
370.8
479.7
372.7
243.8
128.9
106.9
49.9
57.0
16.6
1.2
15.5
0
383.5
493.7
383.0
249.9
133.1
110.7
53.0
57.7
15.7
1.4
14.3
0
391.6
503.4
390.5
252.8
137.7
113.0
55.5
57.5
11.8
1.6
10.3
1. Line 7 less line 16 equals rest-of-the-world product as shown in table 1.7.
1985
1986
I'
Durable goods.
Nondurable goods
Services
Factor income1
Other
Transfer payments (net)
.....
From persons (net)
From government (net)
Interest paid by government to
22.0
21.7
22.8
22.2
22.8
22.4
21.3
21.5
foreigners
-115.2 -141.9 -143.8 -128.6 -143.0 ^148.3 -147.7 -145.7
Net foreign investment
5.7
3.3
2.4
1. Includes utilities, communications, rental payments, maintenance and repair, and payments
to contractors to operate installations.
2. Includes depot maintenance and contractual services for weapons systems.
3. Includes compensation of foreign personnel, consulting, training, and education.
[Billions of dollars]
1985
Ir
II
IV
National defense
purchases
Durable goods..
Military equipment
Aii'craft
Missiles
Ships
Vehicles
Electronic equipment
Other
Other durable goods
1987
1986
1985
IV
Exports of goods and services .....
Merchandise
Durable goods
Nondurable goods
Services
Factor income l
Other
Imports of goods and services.....
Merchandise
Durable goods
Nondurable goods ...„.
Services
Factor income l . .
Other
362.3
227.4
138.5
88.8
135.0
80.9
54.0
470.5
368.7
218.6
150.1
101.8
44.0
57.8
371.5
237.4
147.0
90.5
134.0
76.7
57.3
519.3
418.5
246.0
172.5
100.8
44.2
56.6
362.9
227,8
138.1
89.7
135.1
80.9
54.3
494.8
391.3
228.8
162.5
103.6
43.7
59.8
1987
1986
1985
I
369.2
232.0
142.1
89.9
137.2
82.4
54.8
495.1
392.6
237.4
155.2
102.5
44.3
58.2
II
359.8
227.2
142.7
84.5
132.6
76.3
56.3
513.6
412.8
244.8
168.0
100.8
45.5
55.3
III
IV
371.2
238.8
148.0
90.8
132.4
74.8
57.6
534.5
436.0
249.5
186.4
98.5
42.2
56.4
385.8
251.8
155.2
96.6
134.0
73.6
60.4
533.8
432.5
252.2
180.3
101.3
44.7
56.6
1. Line 6 less line 13 equals rest-of-the-world product as shown in table 1.8.
lr
390.4
255.6
158.0
97.6
134.8
73.0
61.9
527.6
425.8
253.3
172.5
101.8
46.4
55.5
May 1987
11
SURVEY OF CURRENT BUSINESS
Table 4.3.—Merchandise Exports and Imports by Type of Product and
by End-Use Category
Table 4.4.—Merchandise Exports and Imports by Type of Product and
by End-Use Category in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1985
1986
II
I
IV
Seasonally adjusted at annual rates
1987
1986
1985
III
IV
1985
1986
r
I
IV
1987
1986
1985
II
III
IV
r
Merchandise exports.
219.6
220.2
216.2
219.7
212.5
219.2
229.6
235.3
Merchandise exports
227.4
237.4
227.8
232.0
227.2
238.8
251.8
255.6
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 l
Nondurable goods l
24.0
22.3
23.1
24.4
20.5
21.6
22.5
21.3
25.1
25.3
25.7
26.2
22.3
25.5
27.3
26.0
58.3
16.0
42.3
75.6
24.5
13^0
5.1
7.9
24.1
12.0
12.0
57.1
16.3
40.9
78.1
23.6
57.7
15.3
42.4
74.3
24.4
7.9
23 8
1L9
11.9
54.3
15.4
38.9
76.0
238
13/7
5.2
8.5
24.1
12.0
12.0
56.3
15.8
40.4
80.0
22.4
5.6
8.7
24.7
12.'4
12.4
58.1
16.7
41.4
75.7
23.7
13.6
5.1
8.4
24 2
12.1
12.1
61.6
59.9
17.7
17.1
44.0
42.8
80.9 < 80.8
257
24.6
16.3
15.5
6.4
6.7
9.6
9.0
295
26 2
14.7
13.1
14.7
13.1
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 1 .
Nondurable goods *
60.9
16.7
44.2
82.1
22.4
12.9
5.4
7.5
23.8
11.9
11.9
62.4
17.8
44.6
89.9
21.0
13.9
5.8
8.1
24.9
12.4
12.4
60.7
16.1
44.6
82.7
22.0
12.9
5.4
7.5
23.8
11.9
11.9
61.4
17.7
43.7
85.8
21.3
13.3
5.4
7.9
24.0
12.0
12.0
59.1
16.7
42.3
87.2
21.3
13.3
5.4
7.9
24.1
12.0
12.0
62.3
17.5
44.8
92.3
19.9
14.0
5.9
8.1
24.7
12.4
12.4
66.7
19.1
47.7
94.4
21.7
14.9
6.6
8.3
26.7
13.4
13.4
67.3
19.3
48.0
94.4
22.7
15.5
6.8
8.7
29.7
14.9
14.9
Merchandise imports
341.7
368.4
363.8
358.9
358.9
372.7
383.0
390.5
368.7
418.5
391.3
392.6
412.8
436.0
432.5
425.8
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 1
Nondurable goods 1
21.3
24.1
22.0
23.8
23.9
24.4
24.2
24.3
21.8
22.9
22.5
22.9
22.4
23.7
22.8
23.4
59.7
30.6
29.1
50.5
64.0
65.1
65.2
36.7
28.4
15.9
7.9
7.9
61.9
32.5
29.4
33.9
75.7
78.3
77.9
43.6
34.2
16.7
8.3
8.3
59.5
29.9
29.6
56.5
67.5
71.8
69:6
38.3
31.3
16.9
8.4
8.4
62.3
32.4
29.9
40.1
71.8
71.3
73.2
40.8
32.5
16.5
8.2
8.2
60.3
32.7
27.6
31.3
75.3
76.4
75.4
43.0
32.4
16.3
8.1
8.1
61.3
31.6
29.7
32.0
77.1
82.6
79.1
44.3
34.8
16.3
8.1
8.1
63.7
33.3
30.4
32.2
78.5
82.9
83.7
46.4
37.3
17.7
8.8
8.8
64.9
34.1
30.8
34.9
78.9
84.8
84.3
45.8
38.5
18.2
9.1
9.1
68.2
35.0
33.2
59.8
76.2
60.8
65.4
38.3
27.1
16.4
8.2
8.2
73.3
38.4
34.9
74.6
90.8
66.4
74.1
42.2
31.8
16.3
8.2
8.2
69.5
34.9
34.6
67.1
81.1
64.9
68.9
39.2
29.7
17.2
8.6
8.6
73.4
38.1
35.3
58.1
87.1
62.9
71.7
41.0
30.7
16.6
8.3
8.3
72.0
39.0
33.0
74.2
90.1
65.5
72.6
42.2
30.4
16.1
8.0
8.0
73.1
37.8
35.4
87.4
92.5
69.2
74.3
42.2
32.1
15.8
7.9
7.9
74.6
38.7
35.9
79.0
93.4
68.1
77.8
43.6
34.2
16.9
8.4
8.4
76.5
40.1
36.4
69.9
92.9
69.3
76.5
42.3
34.2
17.2
8.6
8.6
U.S
5.1
5!7
8.8
24.4
12.2
12.2
Addenda:
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
OtherDurable goods 1
.Nondurable goods *
Addenda:
Exports of 2agricultural
products
Exports of nonagricultural
products
Imports of nonpetroleum
products
29.6
26.8
28.5
28.4
24.6
25.9
28.2
26.4
190.0
193.4
187.7
191.2
187.8
193.3
201.3
208.8
291.2
334.5
307.3
318.8
327.5
340.8
350.8
355.5
Exports of 2agricultural
products
Exports of nonagricultural
products
.
Imports of nonpetroleum
products
30.4
30.0
30.8
29.8
26.3
30.0
33.9
31.4
197.0
207.5
196.9
202.2
200.9
208.8
217.9
224.2
308.9
343.8
324.2
334.6
338.6
348.6
353.6
355.9
1. Because no data are available to distribute exports and imports of "other" merchandise
between durable and nondurable goods, they are distributed equally.
2. Includes parts of line 2 and line 5.
1. Because no data are available to distribute exports and imports of "other" merchandis
between durable and nondurable goods, they are distributed equally.
2. Includes parts of line 2 and line 5.
Table 5.1.—Gross Saving and Investment
Table 6.3B.—National Income Without Capital Consumption
Adjustment by Industry
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
1985
1986
1985
IV
1986
I
II
Seasonally adjusted at annual rates
1987
III
r
IV
1985
1986
IV
Gross saving
Gross private saving
Personal saving...
Undistributed corporate
profits with inventory
valuation and capital
consumption adjustments
Undistributed profits
Inventory valuation
adjustment
Capital consumption
adjustment .
Corporate capital
consumption allowances
with capital consumption
adjustment
Noncorporate capital
consumption allowances
with capital consumption
adjustment
Wage accruals less
disbursements
Government surplus or deficit
( — ), national income and
product accounts
Federal
State and local
Capital grants received by the
United States (net)
Gross investment
Gross private domestic
investment
Net foreign investment
Statistical discrepancy
551.5
538.7
524.1
583.2
539.7
517.2
514.9
561.6
687.8
143.3
679.0
114.2
679.2
125.8
708.3
145.6
713.0
153.1
650.5
.84.1
644.3
74.2
684.5
104.0
107.3
49.8
109.4
46.2
106.8
57.0
115.5
41.7
106.6
41.2
108.8
47.2
106.4
54.8
112.2
45.2
-.6
6.5
-9.4
' 16.5
10.6
6.1
-7.2
-7.4
58.1
56.6
59.2
57.3
54.8
55.5
58.8
74.4
268.2
280.3
273.3
275.3
278.9
28L6
285.5
287.5
169.0
175.1
173.4
171.8
174.4
176.0
178.2
180.7
0
0
0
0
0
0
0
0
-136.3 -140.3 -155.1
-198.0 -203.3 -217.6
62.5
61.7
63.1
0
545.9
0
541.7
0
525.7
125.1
1950
69.9
0
579.6
173.3 133.3 -129.4 -122.9
2322 - 197.4 - 188.8 -174.4
59.4
64.0
51.5
58.9
0
0
0
0
544.3
527.5
515.5
572.4
661.1 683.6 669.5 708.3 687.3 675.8 663.2 718.1
-115.2 -141.9 -143.8 -128.6 -143.0 -148.3 - 147.7 -145.7
-5.5
3.0
1.6
-3.6
4.6
10.3
.6
10.8
National income without
capital consumption
adjustment
1987
1986
1985
I
II
III
IV
r
3,185.8 3,347.2 3,249.1 3,301.5 3,339.9 3,357.8 3,389.7 3,447.0
Domestic industries
3,144.7 3,310.1 3,207.2 3,258.3 3,305.1 3,320.4 3,356.7 3,416.4
Private industries
2,674.0 2,810.7 2,724.9 2,769.6 2,809.7 2,818.1 2,845.3 2,896.9
Agriculture, forestry, and
fisheries
Mining
Construction.
76.4
43.9
165.6
72.7
38.4
181.1
75.7
43.4
169.9
70.7
44.0
174.8
86.4
38.2
180.7
66.2
36.4
183.7
67.6
34.9
185.2
Manufacturing
Durable goods
Nondurable goods
671.0
401.2
269.8
688.1
412.0
276.1
682.2
405.6
276.6
678.2
409.0
269.2
686.2
413.0
273.2
686.3
410.1
276.1
701.8
416.0
285.8
Transportation and public
utilities
Transportation
Communication
Electric, gas, and sanitary
services
256.4
113.2
66.7
266.1
114.1
71.5
259.4
116.2
66.9
264.9
113.8
72.0
264.7
112.0
70.1
268.0
113.6
72.0
267.1
116.9
71.8
Wholesale trade
Retail trade
Finance, insurance, and
real estate
Services
Government and government
enterprises ....
. ..
Rest of the world
76.5
80.6
76.4
79.2
82.5
82.3
78.4
199.4
278.8
204.8
292.3
199.2
282.1
202.5
292.6
201.5
288.9
208.0
294.2
207.2
293.5
411.6
570.9
447.8
619.3
423.6
589.5
438.0
603.9
449.0
614.2
451.2
624.1
453.0
634.9
470.7
499.5
482.3
488.7
495.3
502.3
511.5
519.5
41.2
37.1
41.9
43.2
34.9
37.4
33.0
30.7
May 1987
SURVEY OF CURRENT BUSINESS
12
Table 5.9.—Change in Business Inventories by Industry in Constant
Dollars
Table 5.8.—Change in Business Inventories by Industry
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1985
1986
1985
1986
IV
I
II
Seasonally adjusted at annual rates
1987
III
I
IV
1985
r
1986
I
IV
Change in business
inventories
Farm
Nonfarm
Change in book value
Inventory valuation
adjustment *
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...
.
Durable goods ... ..
Nondurable goods ..
12.2
13.3
6.7
10
7.7
.7
31
19 9
16.7
27.5
43.8
2.7
41.2
22.9
45
14.5
5.8
3.9
103
10.5
-1.1 -16.3
16 3
108
-2.5
40.0
2.9
37.1
45.8
-1.1
47
-3.2
-1.5
3.7
.7
3.0
5.0
.7
4.2
-1.3
0
-1.2
7.9
6.1
1.8
5.3
3.0
2.3
6.9
33
45
1.2
4.2
1.3
2.9
4.0
1.6
2.4
.2
3
.5
2.3
-.2
2.5
4.5
2.4
2.1
10 8
11 7
11 8
.1
3.3
.1
3.2
3.7
.7
3.0
-.3
18.3
48
45
-.3
8.1
5.2
2.9
7.6
5.8
1.9
.5
6
1.0
30.5
24.5
6.0
7.4
3.4
4.0
6.0
11.6
50
.4
3 6 -3.6
4.0 -1.5
7.9
6.2
3.2
3.8
4.1
3.0
7.1
6.7
3.5
4.7
2.1
3.6
.8
-.5
.3
15
.5
1.0
148
44
-2.7 -19.1
4.3
16
1.6
8.2
3.2
3.0
5.2 -1.6
83
39
-6.4
2.5
-5.3
69
1.6
-5.5
-7.5
2.1
.2
.6
-.5
23
-3.6
1.2
.8
0
.8
-8.7
.4
-.6
1.0
4.3
4.0
.3
3.3
3.6
-.3
1.0
.4
.6
31.4
26.3
5.1
1.0
.1
.9
11.1
-1.1
Q
.2
19.4
18.5
•9
5.8
2.8
3.0
27 i
1. The inventory valuation adjustment (IVA) shown in this table differs from the IVA that
adjusts business incomes. 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. This mix differs from that underlying business income derived primarily from
Internal Revenue Service statistics. Prior to 1973, the two IVA's are the same because
information required for separate estimates is not available.
Change in business
Farm
Manufacturin
Durable goods
Nondurable goods
Wholesale trade
Nondurable eoods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
9.0
-1.9
10.9
-4.7
-3.2
-1.6
3.4
.6
2.8
4.9
.7
4.2
-1.5
0
-1.5
7.3
5.6
1,7
4.9
2.8
2.2
6.6 -5.2
-.9 -21.3
7.4
16.1
-3.5 -10.5
-4.6 -11.1
1.1
.6
4.1
3.4
.1
1.3
2.9
3.3
3.6
3.8
1.5
.6
3.0
2.3
.3
-.3
3
-.5
.6
•3
17.8
2.3
i 16.9
.9
2.3
4.5
5.4
2.2
2.6
2.8
2.2
1987
1986
1985
39.9
2.9
37.0
-5.3
-4.7
-.5
6.9
4.9
2.0
6.8
5.5
1.3
.1
-.6
.7
28.3
22.6
5.6
7.1
3.1
4.0
II
III
15.1
4.1
11.0
1.0
-4.0
5.0
5.1
2.9
2.1
4.6
4.4
.3
.4
-1.5
1.9
-4.0
-2.5
-1.5
8.9
2.8
6.1
-•3
8.3
-8.6
-6.5
-3.8
-2.7
9.7
3.5
6.3
8.3
3.2
5.1
1.4
.3
1.2
-13.1
-17.1
4.1
1.2
3.0
-1.8
IV
I"
28 5
187
98
33
-6.0
2.7
-5.2
63
1.1
-4.3
-6.9
2.6
-.9
.6
-1.5
-2.0
-3.2
1.2
.7
0
.7
35.0
3.8
31.3
9
-.9
0
3.2
3.7
5
1.7
3.4
-1-7
1.5
.3
1.1
28.1
23.4
4.7
.8
.1
.7
Table 5.10.—Inventories and Final Sales of Business by Industry
Table 5.11.—Inventories and Final Sales of Business by Industry in
Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted quarterly totals
Seasonally adjusted quarterly totals
1985
IV
l
Inventories
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 sales 2
..... ....
Final sales of goods and structures 2
Ratio of inventories to final sales
Inventories to final sales
Nonfarm inventories to final sales
Nonfarm inventories to final sales of goods and
structures
1986
I
••?H;
III
IV
1987
1985
r
IV
862.6
74.0
788.5
460.1
328.4
338.9
224.4
114.5
181.9
115.2
66.6
155.1
100.6
54.5
26.8
14.7
12.1
176.7
86.9
89.8
91.0
289.3
172.1
855.8
71.5
784.3
466.4
317.9
330.5
222.5
108.0
179.9
116.5
63.4
154.9
102.0
52.9
24.9
14.4
10.5
183.4
93.2
90.2
90.5
289.7
170.6
857.0
73.8
783.2
465.6
317.6
328.5
220.3
108.2
180.9
117.6
63.3
156,7
103.6
53.1
24.2
14.0
10.2
183.0
92.6
90.4.
90.9
294.3
172.8
856.6
74.8
781.8
464.8
316.9
327.2
220.1
107.1
182.5
119.5
63.1
158.1
105.3
52.9
24.4
14.2
10.2
181.2
89.1
92.1
90.8
300.4
176.7
851.9
70.1
781.8
461.6
320.2
327.7
218.9
108.7
182.6
118.0
64.6
158.0
103.6
54.4
24.6
14.4
10.2
181.3
88.5
92.8
90.2
303.3
177.8
867.2
71.7
795.5
470.4
325.1
330.2
219.3
110.9
185.0
119.6
65.4
159.6
105.1
54.6
25.4
14.5
10.9
189.7
95.4
94.3
90.6
304.6
176.5
2.98
2.73
2.95
2.71
2.91
2.66
2.85
2.60
2.81
2.58
2.85
2.61
4.58
4.60
4.53
4.42
4.40
4.51
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 quarterly rates, whereas CBI 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.
1
Inventories
Farm
.
Nonfarm
Durable goods
Nondurable goods
ManufacturingDurable 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 sales 2
Final sales of goods and structures 2
Ratio of inventories to final sales
Inventories to final sales
Nonfarm inventories to final sales
Nonfarm inventories to final sales of goods and
structures
I.
1987
1986
I
II
III
IV
r
830.2
77.8
752.4
433.1
319.3
325.2
212.0
113.1
174.7
108.7
66.0
148.3
94.9
53.4
26.4
13.8
12.7
165.0
81.1
83.9
87.5
259.2
161.3
840.2
78.6
761.6
439.6
322.0
323.9
210.9
113.0
176.4
109.9
66.5
150.0
96.2
53.7
26.5
13.7
12.8
172.1
86.7
85.3
89.3
258.0
159.4
844.0
79.6
764.4
439.4
325.0
324.1
209.9
114.3
177.7
110.6
67.0
151.1
97.3
53.8
26.6
13.3
13.3
171.0
86.1
84.9
91.5
261.0
161.2
843.9
81.7
762.2
435.8
326.4
322.5
208.9
113.6
180.1
111.5
68.6
153.2
98.1
55.1
26.9
13.4
13.6
167.8
81.8
85.9
91.8
264.0
163.3
836.8
77.0
759.8
431.9
327.8
321.7
207.4
114.3
178.8
109.9
68.9
152.1
96.4
55.7
26.7
13.5
13.2
167.3
81.0
86.2
92.0
267.3
166.0
845.5
77.9
767.6
438.5
329.1
321.5
207.2
114.3
179.6
110.9
68.8
152.5
97.3
55.3
27.1
13.6
13.5
174.3
86.9
87.4
3.20
2.90
3.26
2.95
3.23
2.93
3.20
2.89
3.13
2.84
3.19
2.89
4.67
4.78
4.74
4.67
4.58
4.71
92.2
265.4
162.9
1. Inventories are as of the end of the quarter. Quarter-to-quarter changes calculated from 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
May 1987
13
Table 7.1.—Fixed-Weighted Price Indexes for Gross National Product,
1982 Weights
Table 6.18B.—Corporate Profits by Industry
[Billions of dollars]
Seasonally adjusted at annual rdtCC
1985
1986
1985
IV
I
II
Seasonally adjusted
1987
1986
III
IV
1985
r
1986
IV
Corporate profits with inventory
valuation and capital
consumption adjustments
Domestic industries
248.8 265.2 250.5 257.9 260.2 267.3 275.2
Financial
Nonfinancial
31.8
Corporate profits with inventory
valuation adjustment.
f
'd
Financial
.
Federal Reserve banks
Other
35.1
38.4
34.7
32.9
36.0
35
29.3
16.0
13.3
23.2
16.3
6.9
27.8
17.0
10.8
29.1
16.2
13.0
28.9
15.5
13.4
31.5
15.5
16.0
31 7
73.0
76.1
74.5
66.7
76.8
75.6
85.3
28.0
36
4.1
3.6
32.1
15
4.7
3.1
26.6
36
3.0
4.7
28.1
26
4.7
2.2
34.6 31.8
1 1 23
5.0
5.1
4.9
2.8
33.9
1
4.0
2.5
Motor vehicles and equipment
Other
4.9
6.8
12.1
5.0
5.6
15.2
4.3
6.6
11.6
4.7
6.4
12.7
7.2
4.9
13.7
4.9
4.1
17.1
3.2
7.0
17.1
Nondurable goods
Food and kindred products
Chemicals and allied products
Petroleum and coal products
Other
45.0
7.8
4.7
13.4
19.1
44.0
10.6
7.6
8.7
17.1
47.9
7.6
2.8
18.7
18.9
38.6
9.3
6.3
7.3
15.7
42.2
10.0
6.4
9.7
16.1
43.9
11.2
8.3
7.0
17.4
51.4
11.7
9.6
10.8
19.3
Transportation and public utilities
33.0
49.7
14.0
38.4
49.8
14.8
32.7
45.0
15.9
36.8
52.1
17.1
38.6
46.3
14.6
40.3 37.9
53.3 ,47.7
13.7 13.9
31.8
35.5
35.1
38.4
32.9
34.7
Durable goods
Primary metal industries
Fabricated metal products
IV
r
105.1 106.5 105.3 105.8 106.0 106.9 107.4 108.4
107.8 107.7 109.2 108.4 106.5 107.4 108.4 110.3
117.7 123.0 120.0 121.4 122.5 123.6 124.7 125.9
'.
105.2
103.3
101.3
104.7
111.6
104.0
102.4
100.8
103.5
109.4
104.2
102.5
100.7
103.7
110.1
104.9
103.1
101.1
104.4
111.4
105.5
103.6
101.3
105.0
112.0
106.1
104.1
101.8
105.6
113.0
106.6
104.4
102.4
105.7
114.5
Fixed investment .
..
Nonresidential
Structures
Producers' durable equipment
Residential
103.3
101.9
100.0
103.1
108.2
.,
Exports
Imports
104.0 103.8 103.8 104.3 104.0 103.5 103.5 104.5
95.9 92.0 96.5 94.8 ,90.9 90.9 92.7 95.3
..
. . . .
Government purchases of goods and
services ..
.
..
Federal
National defense
Nondefense
State and local . .. ~
Electric and electronic
Other
III
15.9
169.7 179.2 168.1 172.8 176.3 182.9 184.9 192.0
Manufacturing
II
4
222.6 244.1 226.4 239.0 238.3 246.5 252.3 259.1
190.8 208.5 191.3 200.6 205.4 211.8 216.3 223 7
21.0
16.8
4.3
Nonfinancial
35.5
I
112.3 115.4 113.7 114.4 114.9 115.6 116.4 117.5
112.4 115.2 114.1 114.6 114.5 115,4 116.4 117.9
Gross national product.
Personal consumption expenditures
Durable goods
24.6 35.0 27.2 32.5 34.3 34.6 38.5
224.2 230.2 223.3 225.5 225.9 232.7 236.7
Rest of the world
D
280.7 300.7 285.6 296.4 293.1 302.0 311.2 333.5
1987
1986
1985
...
114.1 117.1 115.8
116.4 116.7 117.1
111.0
111.4
110.0
116.3
112.3
113.2
110.1
119.4
111.8
112.8
109.5
121.0
112.2 115.3
Personal consumption expenditures,
food
Personal consumption expenditures,
energy
....
Other personal consumption
expenditures
113.2
114.2
110.6
124.2
113.6 114.3 114.8 115.5 116.3
117.4
112.0
112.7
110.1
120.2
111.4
112.5
108.8
121.3
108.6 112.2 110.0 110.3 110.8 113.1
, 103.2
118.2 119.5
111.6
112.7
108.9
123.0
112.1
112.9
110.3
118.5
91.0 103.3 100.1
90.5
87.7
114.7 115.4
85.6
90.0
114.6 119.0 116.6 117.5 ,118.4 119.5 120.7 121,9
35 4
„_. .
'
NOTE. — Percent changes from preceding period for selected items in this table are shown in
table 8.1.
Table 7.2.—Fixed-Weighted Price Indexes for Gross National Product by
Major Type of Product, 1982 Weights
Table 7.3.—Fixed-Weighted Price Indexes for Relation of Gross National Product, Gross Domestic Purchases, and Final Sales to Domestic
Purchasers, 1982 We ights
Rest of the world
36.0
[Index numbers, 1982=100]
[Index numbers, 1982 = 100]
Seasonally adjusted
1985
1986
1985
IV
Gross national product
Final sales
Change in business inventories
Goods
1986
I
II
III
Seasonally adjusted
1987
IV
r
112.3 115.4 113.7
114.4 114.9 115.6
112.2 115.3
114.3 114.8 115.5 116.3 117.4
113.6
116.4 117.5
107.6 108.3 108.1 108.2 107.9 108.3 108.7 109.7
Final sales
Change in business inventories
107.6 108.2 108.0 108.1 107.7 108.2 108.5 109.5
Durable goods
Final sales
Change in business inventories
107.6 105.9 105.7 105.7 105.7 106.0 106.3 106.7
107.6 105.8 105.6 105.6 105.6 105.9 106.2 106.6
Nondurable goods
Final sales
Change in business inventories
107.6 110.0 109.7 109.8 109.3 109.9 110.3 111.7
107.6 109.8 109.6 109.7 109.1 109.7 110.1 111.5
Services
107.6 122.9 119.9
Structures
107.6 107.1 105.9 106.2 106.9 107.3 107.8 108.8
1985
121.2 122.3 123.4 124.5 125.8
1986
IV
1987
1986
1985
I
II
III
IV
lr
114.4 114.9 115.6 116.4 117.5
Gross national product
112.3 115.4 113.7
Less: Exports of goods and services
Plus: Imports of goods and services
104.0 103.8 103.8 104.3 104.0 103.5 103.5 104.5
95.9 92.0 96.5 94.8 90.9 90.9 92.7 95.3
Equals: Gross domestic purchases *
111.5
Equals: Final sales to domestic
purchasers 2
111.4 114.1 113.0
114.2 113.0
113.5
113.6
114.4 115.4 116.7
113.4 113.5 114.3 115.2 116.5
1. Purchases in the United States of goods and services wherever produced.
2. Final sales in the United States of goods and services wherever produced.
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
May 1987
SURVEY OF CURRENT BUSINESS
14
Table 7.7.—Implicit Price Deflators for the Relation of Gross National
Product, Net National Product, and National Income
Table 7.4.—Implicit Price Deflators for Gross National Product
[Index numbers, 1982 = 100]
[Index numbers, 1982 = 100]
Seasonally adjusted
1985
1986
1985
IV
II
Seasonally adjusted
1987
1986
I
III
IV
1985
F
1986
IV
Gross national product
Personal consumption expenditures
Durable goods..
Nondurable goods.
Services
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
Change in business inventories
Net exports of goods and services
Exports
Imports
Government purchases of goods and
services
Federal
National defense
Nondefense
State and local
111.5
111.9
104.5
107.5
117.3
114.5
114.2
105.3
107.0
122.4
115.0
114.4
105.9
106.6
123.0
115.2
115.3
106.0
107.4
124.1
116.4
116.9
106.4
109.8
125.2
101.8
99.3
101.7
98.1
108.2
104.0 102.2 103.2 103.6 104.4
100.7 99.4 100.3 100.2 101.0
106.5 103.2 104.4 106.5 107.8
98.3 97.6 98.4 97.6 98.3
111.8 109.4 110.2 111.7 112.2
105.0
101.4
107.7
99.0
113.2
105.3
101.1
107.9
98.5
114.7
112.8
113.4
104.3
108.9
119.5
113.5
113.7
104.5
108.0
120.6
114.0
113.4
104.7
105.8
121.8
102.1 100.4 101.5 101.5 100.9
95.4 91.9 95.7 94.6 91.0
113.1
109.4
110.0
107.9
116.0
115.7
110.2
111.0
107.7
120.1
114.2
109.7
112.0
104.6
118.0
11.5.4
111.0
111.6
109.2
118.8
116.0
111.8
111.7
112.1
119.4
99.9
89.7
116.5
111.6
110.5
115.4
120.3
99.4 100.3
92.5 95.4
115.1
106.7
110.4
97.0
122.0
118.0
111.5
112.0
109.8
123.1
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
Table 7.5.—Implicit Price Deflators for Gross National Product by
Major Type of Product
[Index numbers, 1982=100]
Gross national product
Final sales
Change in business inventories
Goods
Final sales
Change in business inventories
Durable goods
Final sales
Change in business inventories ...
Nondurable goods
Final sales.......
Change in business inventories
Services
Structures ..
111.5 114.5 1128 113.5 114.0 115.0 115.2 116.4
1115 1145 1128 1135 1141 115 1 1151 1164
106.3 106.6 106.6 106.7 106.3 1072 106.2 107.4
1062 1066 1065 1067 1064 1074 1060 1073
108.5 110.0 1096 1095 1095 1113 1098 1118
108.4 110.1 1094 109.5 109.8 1118 1093 1118
117 5 122 5 1197 1208 121 9 123 0 124 2 1254
1062 110 5 107 6 108 5 1104 111 2 111 7 112 7
Table 7.6.—Implicit Price Deflators for Gross National Product by
Sector
[Index numbers, 1982=100]
111.5
111.5
1105
110.8
110.1
1188
974
1105
1172
1025
1184
1184
1148
1203
112.7
114.5
114.5
113 1
1135
112.3
1260
930
1131
1220
1037
1234
1241
1177
1273
116 0
112 8
112.8
1117
1120
111.1
121 9
981
1117
1190
1029
1203
1208
1169
1228
114 2
113 5
113.5
1122
1127
1117
123 5
928
1122
1204
1032
1218
1220
1172
1245
115 0
1140
114.0
1127
1131
111.9
1254
95 1
1127
1215
1034
1230
1234
1176
1263
1155
1150
115.0
1137
114 1
1129
126 8
929
1137
1226
1038
124 1
124 5
1179
1280
116 7
115.2
115.2
1137
1142
112.8
1284
910
1137
1233
1042
1249
1263
1182
1305
1168
1164
116.4
1148
1153
1140
129 6
893
1148
1246
1044
1263
1281
1215
1315
118 1
1098
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
I
II
III
IV
F
111.5 114.5 112.8 113.5 114.0 115.0 115.2 116.4
102.7 103.3 103.0 102.8 103.2 103.3 103.7 103.8
112.7 116.0 114.2 114.9 115.5 116.6 116.8 118.1
115.6 115.2 117.1 120.3 109.1 118.0 113.5 115.3
110.5 113.1 111.7 112.2 112.7 113.7 113.7 114..8
112.4 116.1 113.9 114.4 116.2 116.5 117.2 118.4
Table 7.8.—Implicit Price Deflators for Command-Basis Gross National
Product
[Index numbers, 1982=100]
Ill 5 114.5 112.8 113.5 114.0 115.0 115.2 116.4
Gross national product
Less' Net exports of goods and services
Exports
Imports
Equals: Gross domestic purchases
Plus: Command-basis net exports of
goods and services
Command-basis exports
Imports..
Equals: Command-basis gross national
product
1021 1004 1015 101 5 100.9 99.9 99.4 100.3
954 919 957 946 91.0 89.7 92.5 95.4
1104 112.8 111.7 112.2 112.2 113.0 113.7 115.2
95 4
95.4
919
91.9
957
95.7
946
94.6
91 0
91.0
89.7
89.7
110.7 113.4 112.2 112.7 112.8 113.7
92.5
92.5
95.4
95.4
114.3 115.8
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
\
Table 7.9.^Fixed-Weighted Price Indexes for Personal Consumption
Expenditures by Major Type of Product, 1982 Weights
103.6 102.4 1030 103 2 1023 1022 1018 1022
103.5 102.3 1028 1029 1022 1023 1020 1018
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
Gross national product .
Gross domestic product
Business . . .
Nonfarm
Nonfarm less housing
Housing
Farm
Statistical discrepancy
Households and institutions . .
Private households
Nonprofit institutions
Government
Federal
State and local
Rest of the world
Addendum:
Gross domestic business product less
housing
Gross national product
Less: Capital consumption allowances
with capital consumption adjustment....:
Equals: Net national product....
Less: Indirect business tax and nontax
liability plus business transfer
payments less subsidies plus current
surplus of government enterprises
Statistical discrepancy
Equals: National income
1987
1986
1985
[Index numbers, 1982=100]
Personal consumption
expenditures
..
Durable goods
Motor vehicles and parts
;
Furniture and household equipment
Other
Nondurable goods
Food....
'.
Clothing and shoes
...
Gasoline and oil
Other nondurable goods
Fuel oil and coal
Other
Services ...
Housing
Household operation
Electricity and gas
Other
.
Transportation
Medical care
Other
112.4
105.1
108.3
100.7
1068
107.8
108.6
1063
960
1137
92.7
1166
1177
117.7
115.8
1148
1169
1095
122.7
1169
115.2
106.5
110.6
100.8
108.4
107.7
112.2
1060
753
1157
74.9
121 3
12310
124.5
118.4
1142
1227
1138
129.5
121 0
114.1
105.3
108.6
100.5
107.0
109.2
110.0
1076
96 5
1155
95.2
1183
1200
120.6
116.3
1138
1189
1101
126.1
1189
114.6
105.8
1093
100.7
1075
108.4
1103
1059
906
1157
880
119 6
121 4
1220
117.6
1148
1204
1128
127.7
119 8
114.5
106.0
110.1
100.4
107.8
106.5
110.8
1051
74 1
1151
75.2
120 6
122.5
123.8
118.5
1146
1225
1135
128.6
1205
115.4
106.9
110.9
101.0
109.0
107.4
113.1
1057
69 2
115.7
68.7
122 2
123.6
125.2
119.4
115 1
123 8
1136
129.9
121 4
116.4
107.4
112.2
100.8
109.4
108.4
114.7
1075
674
1164
67.8
123 0
124 7
126.9
118.1
1125
1240
1151
131.7
1224
117.9
108.4
113.2
101.9
110.4
110.3
115.4
1086
75 1
1184
73.3
124 6
125 9
128.0
118.0
112 6
123 6
1171
133.4
1237
Table 7.14.—Fixed-Weighted Price Indexes for Exports and Imports of
Goods and Services, 1982 Weights
[Index numbers, 1982=100]
Exports of goods and services
Merchandise
Durable goods
Nondurable goods
Services
Factor income
Other
Imports of goods and services
Merchandise
Durable goods
Nondurable goods
Services
Factor income
Other
104.0
989
1004
969
1114
.... 1130
1085
95.9
92.6
949
902
1055
1127
999
103.8
965
996
924
1143
1164
1107
92.0
86.3
1006
719
1086
116.0
1029
103.8
976
999
945
1127
1146
1095
96.5
93.0
962
898
106.8
114.2
101.0
104.3
981
999
957
1133
1153
1097
948
904
976
831
1076
1150
1018
104.0
97 1
995
940
1139
116.1
1101
90.9
85.0
995
70.3
108.0
115.5
102.2
103.5
95.7
994
907
114.9
1170
1110
90.9
84.6
1017
67.3
109.1
116.6
103.3
103.5
954
997
896
1152
1173
1116
92.7
869
1034
702
109.7
116.8
104.2
104.5
963
1006
906
1164
1187
1125
95.3
89.8
1046
74.9
111.3
118.2
105.9
SURVEY OF CURRENT BUSINESS
May 1987
15
Table 7.15.—Fixed-Weighted Price Indexes for Merchandise Exports and
Imports by Type of Product and by End-Use Category, 1982 Weights
Table 7.16.—Fixed-Weighted Price Indexes for Government Purchases
of Goods and Services by Type, 1982 Weights
[Index numbers, 1982=100]
[Index numbers, 1982=100]
Seasonally adjusted
Seasonally adjusted
1985
Merchandise exports
Merchandise imports..
II
III
IV
F
96.5
97.6
98.1
97.1
95.7
95.6 87.8
95.7 91.6
95.7 91.6
95.7 91.6
99.8 98.7
109.6 112.3
99.9 103.0
94.2 96.7
104.3 108.0
101.2 .99.3
101.1
99.3
99.3
101.2
89.9
95.0
95.0
95.0
99.0
110.7
100.2
94.6
104.6
100.2
100.2
100.2
93.1
94.7
94.7
94.7
98.7
111.2
101.6
95.8
106.1
100.8
100.8
100.8
93.0
90.4
86.3
97.8 104.9
87.4
87.4
87.4
84.5
87.9
107.1
99.6
95.9
104.9
96.7
96.7
96.7
95.4
96.3
91.8 84.8 82.4
91.9 90.3 89.7
91.9 90.3 89.7
91.9 90.3 89.7
98.5 98.7 99.1
112.1 112.7 113.3
103.0 103.3 104.0
96.6 96.8 97.3
108.1 108.4 109.3
98.4 98.0
100.1
98.4 98,0
100.1
100.1 98.4 98.0
82.0
91.6
91.6
91.6
100.0
113.1
105.3
98.3
110.8
99.2
99.2
99.2
84.6
89.8
85.0
97.7 103.7 106.9 103.0
84.4 85.7 84.9
84.5 85.7 85.0
84.3 85.7 84.9
45.4 84.2 69.0
93.2 88.6 89.9
117.9 110.6 113.4
105.0 100.8 102.0
103.3 97.6 99.4
107.5 105.4 105.8
102.1 97.9 99.3
102.1 97.9 99.3
102.1 97.9 99.3
83.7
83.8
83.7
42.2
92.2
116.7
103.8
102.0
106.4
101.2
101.2
101.2
1985
1987
1986
I
92.6
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
1985
IV
98i9
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
1986
84.0
84.1
83.9
36.6
94.5
119.3
106.3
105.0
108.2
102.9
102.9
102.9
86.9
106.2 104.0
84.9
85.0
84.7
40.8
96.2
121.8
107.6
106.4
109.3
104.7
104.7
104.7
84.9
85.0
84.7
50.0
98.5
122.3
110.1
108.4
112.5
105.7
105.7
105.7
Table 7.17.—Fixed-Weighted Price Indexes for National Defense
Purchases of Goods and Services, 1982 Weights
Government purchases of goods
and services
..
1985
IV
National defense purchases
Durable goods
Military equipment
Aircraft
Missiles
Ships ..
Vehicles
Electronic equipment
Other
Other durable goods
Nondurable goods
,
Petroleum products
Ammunition.......,,...,,
Other nondurable goods
.,,
,
Services
,
Compensation of employees
Military
.,
Civilian...., ,
Other services
Contractual research and
development
,
1
Installation support
..
Weapons support 2 3
Personnel support
Transportation of materiel
Travel of persons
Other .. ,.
,. ...
Structures
Military facilities
Other
,
,
,
...... .
,
,. .
,
,
IV
lr
113.2 112.7
112.5
112.7
114.2
111.4
112.8
112.9
111.8
113.2
1.11.5 112.2
113.4
113.5
113.8
113.4
113.6
125.5
107.7
114.3
75.4
106.7
107.0
103.9
114.9
124.2
111.8
117.2
85.9
107.7
107.3
105.5
113.2
124.2
107.9
115.4
76.4
106.6
106.2
104.1
113.8
125.2
107.2
116.7
77.9
106.8
106.3
104.8
115.3
126.2
111.9
117.6
78.7
107.4
107.0
104.8
115.3
123.1
113.8
117.2
92.7
108.1
107.6
105.1
115.2
122.3
114.1
117.2
94.3
108.3
108.1
107.4
115.1
121.2
116.2
117.5
93.9
108.3
108.4
105.9
89.0
71.6
89.2
87.4
71.4
63.7
63.7
65.6
79.7 54.1 79.8 77.6 53.8 42.4 42.6 45.5
109.4 106.8 109.5 106.8 107.1 107.1 106.2 105.1
107.6 109.5 108.3 109.3 109.4 109.7 109.4 110.0
117.0
117.8
118.0
117.5
115.4
115.9
117.0
117.2
116.6
113.8
116.4
114.5
114.0
115.6
112.0
117.3
117.4
116.9
114.8
116.9
117,8
118.0
117.2
115.2
117,2 117.4
117.9 118.2
118.1 118.3
117.6 118.1
115.7 115.7
119.6
121.3
121,2
121.6
116.4
113.4
116.8
112.7
110.0
96.2
102.0
114.7
120.1
113.8
129.9
98.2
102.3
114.6
118.6
114.0
118.2
95.9
102.8
115.1
119.4
114.1
123.4
98.1
101.3
114.8
120.5
113.8
127.5
97.8
102.0
114.6
120.9
113.6
133.1
97.5
101.9
114.4
119.6
113.6
135.4
99.2
103.8
114.7
119.5
113.4
141.8
99.2
104.6
110.4
115.0
112.6
113.2
114.2
116.1
116.4
116.8
111.2
109.1
116.3
113.0
113.7
110.8
114.6
111.0
114.9 117.8
113.1 113.6
117.8
114.3
117.7
115.3
113.6
1. Includes utilities, communications, rental payments, maintenance and repair, and payments
to contractors to operate installations.
2. Includes depot maintenance and contractual services for weapons systems.
3. Includes compensation of foreign personnel, consulting, training, and education.
II
III
IV
Ir
117.1
115.8
116.4
116.7
117.1
118.2
119.5
111.0
111.8
112.1
112.3
112.0
111.4
111.6
113.2
National defense
,
,
Durable goods'
Nondurable goods
.
......
Services
Compensation of employees
Military
,....,,
Civilian
,....,,
,..,,..
Other services
,
Structures
111.4
111.8
89.0
113.6
114.5
.114.6
115.6
112.0
110.4
112.8
113.2
71.6
117.0
117.8
118.0
117.5
115.4
115.0
112.9
111.5
89.2
115.9
117.0
117.2
116.6
113.8
112.6
113.2
112.2
87.4
116.4
117.3
117.4
116.9
114.8
113.2
112.7
113.4
71.4
116.9
117.8
118.0
117.2
115.2
114.2
112.5
113.5
63.7
117.2
117.9
118.1
117.6
115.7
116.1
112.7
113.8
63.7
117.4
118.2
118.3
118.1
115.7
116.4
114.2
113.4
65.6
119.6
121.3
121.2
121.6
116.4
116.8
Nondefense
,
Durable goods ......
Nondurable goods
Commodity Credit Corporation
110.0 109.5 110.3 110.1 110.1 108.8 108.9 110.6
99.6 99.6 100.0 99.9 99.2 99.6 99.6 99.9
Other nondurables .....
Services .
Compensation of employees
Other services
Structures
State and local
Durable goods
Nondurable goods ...;
Services
Compensation of employees
Other services
,...,......,
Structures
100.5
113.7
115.5
110.8
107.3
94.7
115.8
117.6
113.0
109.5
99.3
114.7
116.7
111.7
108.5
91.6
115.1
117.0
112.2
109.0
96.3
115.5
117.3
112.7
109.3
94.0
116.5
118.2
113.9
109.9
96.4
118.9
121.8
114.5
110.5
116.3
121.0
118.5
119.4
120.2 121.3 123.0
124.2
106.4
99.2
1-19.8
120.3
117.7
110.9
108.6
90.5
126.5
127.3
122.8
113.2
107.3
100.0
122.2
122.8
119.5
112.5
107.4
95.4
123.9
124.5
121.2
112.9
108.1
89.5
125.6
126.3
122.2
113.1
110.3
89.1
129.3
. 130.5
124.3
113.4
110.1
92.7
130.4
131.5
125.3
113.9
96.7
115.9
117.7
113.1
109.7
108.6
87.9
127.2
128,0
123.4
113.5
[Dollars]
III
II
I
1987
1986
I
IV
114.1
Federal
Seasonally adjusted
1986
1987
1986
1985
Table 7.18.—Current-Dollar Cost and Profit Per Unit of Constant-Dollar
Gross Domestic Product of Nonfinancial Corporate Business
[Index numbers, 1982=100]
1985
1986
Seasonally adjusted
1985
1986
IV
Current-dollar cost and profit per
unit of constant-dollar
gross
domestic product l
Capital consumption allowances with
capital consumption adjustment
Net domestic product
Indirect business tax and nontax
liability plus business transfer
payments less subsidies
Domestic income
Compensation of employees .
Corporate profits with inventory
valuation and capital consumption
adjustments
Profits tax liability
Profits after tax with inventory
valuation and capital
consumption adjustments
Net interest
,
....
1987
1986
1985
I
II
III
IV
lr
1.081 1.101 1.088 1.095 1.097 1.106 1.106 1.114
.120
.961
.123
.978
.121
.967
.121
,974
.123
.974
.123
.983
.124
.983
.123
.991
.103
.858
.708
.106
.873
.725
.104
.863
.716
.106
.868
.721
.103
.871
.724
.107:
,876
.727
.106
.877
.729
.106
.885
.727
.106
.032
.107
.036
.105
.033
.105
.032
.106
.034
.109
.036
.109
.040
,118
.045
.075
,043
.072
.040
.072
.042
.073
.042
.072
.041
.072
.040
.069
.039
.073
.040
1. Equals the deflator for gross domestic product of nonfinancial corporate business with the
decimal point shifted two places to the left.
May 1987
SURVEY OF CURRENT BUSINESS
16
Table 8.1.—Percent Change From Preceding Period in Selected Series
[Percent]
Seasonally adjusted at annual rates
1985
1986
IV
Gross national product:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Personal consumption expenditures:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Durable goods:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
6.2
2.7
3.3
3.6
3.7
5.2
2.5
2.7
2.5
2.8
5.8
2.1
3.6
3.9
4.0
7.1
3.5
3.5
3.6
3.7
6.2
4.1
2.1
2.4
2.5
6.4
1.7
4,3
4.7
. 4.7
8.5
7.8
.7
1.0
1.0
8.0 116
7.2 -11.1
8
.8
1.1
1.3
1.0
1.3
4.0
1.6
2.4
2.5
2.5
3.0
3.6
5
-.1
1
8.9
3.7
5.0
5.2
5.2
7.9
3.4
4.3
4.4
4.5
11.4
6.0
5.2
5.4
5.2
.2
.7
3.4
1.5
7.6
6.0
Nondurable goods:
Current dollars
1982 dollars
Chain price index
Fixed-weighted price index
Services:
Current dollars
1982 dollars
Implicit price deflator..
Chain price index
Fixed-weighted price index
Gross private domestic investment:
Current dollars
1982 dollars
Implicit price deflator
Chain price index ..,...,
Fixed-weighted price index
Fixed investment:
Current dollars
1982 dollars
II
I
Seasonally adjusted at annual rates
1987
1986
1985
III
6.4
2.8
3.6
2.5
2.6
1.7
1.1
.7
2.5
2.7
8.7
4.4
4.2
3.8
3.9
4.6
5.2
6.2
3.6
1.1 -1.1
1.4 -.3
1.5 -.4
10.3
6.7
3.6
3.6
3.4
3.0
.4
3.2
3.6
3.5
4.4
1.1
5.7
5.0
5.0
13
18
.8
1.5
1.8
15.3
14.3
.8
1.2
1.0
51.0 -10.6 -17.1
44.6 11.0 -18.6
.4
1.5
4.7
3.4
2.6
3.0
3.8
2.1
•>3.2
3.1 -.6
6.9
8.0
6.5
1.6
5.3 -3.3 -7.9
5.2 -2.9 -6.6
5.2 -2.9 -6.8
1.9
-.9
3.1
3.4
3.2
3.2
-.1
3.0
3.9
3.9
9.5
.5
9.2
7.4
7.1
7.2
3.2
3.7
4.3
4.6
6.5
2.4
4.0
3.8
3.6
7.0
3.2
3.6
3.7
3.6
7.6
3.8
3.6
4.0
3.9
6.5
2.6
4.0
3.6
3.8
25.3 -11.3
20.2 -10.8
37.5
35.7
-6.5 -7.3
-7.8 -13.0
......
Fixed-weighted price index
Nonresidential:
1982 dollars
Implicit price deflator
Chain price index ,
Fixed-weighted price index
Structures:
Current dollars
Implicit price deflator.....
Chain price index
Fixed-weighted price index....
Producers' durable
equipment:
Current dollars....
1982 dollars
Implicit price deflator ,
Chain price index.........
Fixed-weighted price index....
Residential:
Current dollars
;..... ,
1982 dollars
Chain price index
Fixed-weighted price index
Exports of goods and services:
Current dollars
,.,..
,
1982 dollars .. .
Implicit price deflator
..
Chain price index .
Fixed-weighted price index
... .
Imports of goods and services:
Current dollars........
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
8.7
7.7
.9
1.2
1.5
4.2
1.9
2.2
1.6
1.9
.4
10.0
9.3 -1.0
1.4
.6
g
.9
1.4
1.5
11.7 -4.8
9.9 -8.4
4.0
2.0
.2
2.1
2.4
.9
12.9
12.5
.4
.8
1.6
11 9
15 1
3.7
-.7
.4
4.5
1.2
3.1
2.1
2.0
6.0 -6.9
3.6 -8.0
1.1
2.3
2.4
2.7
2.1
2.4
1.3
15
9 -2.1
4
3.2
2.2
2.2
2.0
2.2
4.7 10 7
3.0 -9.7
1.6 -1.2
.9
2.3
1.1
2.0
5.2
3.5
1.6
3.2
2.8
5.8 -6.5 -29.8 -5.5
-35.2 -9.8
.3
5.0
4.7
8.3
5.6
1.3
.2
2.6
3.2
1.0
3.1 -.3
.1.5
5.6 -10.1
-11.1
.7
3.2
2.7
11.1
7.7
3.1
1.8
1.7
7.4
9.4
10.1
-.6
4.4 16.9 145 15.8
4.2 18.7 170 19.6
3.3 -3.2
't -1.6
2.0
.6 — A -1.2
c
.1
2.6
1.6
4.5
1.2
2.9
2.6
2.6
9,5 10.8
6.6 -9.1
2,9 -2.0
1
2£
.1
2'.3
21.0
14.5
5.6
5.5
4.7
11.6
9.7
1.8
1.8
2.1
1.2
8.8
5.2 -4.3
5.4
3.6
5.6
3.6
5.5
3.7
t4
1.2
:
5.7
3.9
18
1.8
1.8
-3.4
-2.0
-I./
4.7
1.6
1.3
13.1
95
33
3.3
3.2
8.7
3.4
4.9
5.2
5.1
6.7
8.2
2!5
-1.7 -1.2
-.6 — .6
-.2
6.4
1.6
3.8 10.4
-2.1 -3.7
-2.0 -1.7
— 1.! -4.0
27.1
23.3
3.0
4.5
4.8
14.2
11.0
3.0
2.5
2.6
-.4
2.2
1.7
8.9 14.4
7.4 -12.0
13.3 16.7
7.1 -9.8
3.9 -2.0
2.3
0
1.2
1.7 -1.4
2.0 -1.3 -1.7
(
10.9
15i8 17.3
-4^5 -14.4 -5.6
U
-4.4 -8.5
-7.0 -15.5
-4.2
12.2
;
131
8.3
8.4
Government purchases of goods and
services:
Current dollars....
1982 dollars.....
, ....
Implicit price deflator
Chain price index
.,,,....„. ...
Fixed-weighted price index
Federal:
Current dollars
,
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
National defense:
Current dollars
1982 dollars
Implicit price deflator.
Chain price index
Fixed-weighted price index
Nondefense:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
State and local:
Current dollars
,
1982 dollars
,
Implicit price deflator
Chain price index
...
Fixed-weighted price index
Addenda:
Gross domestic purchases:
1982 dollars
Chain price index
Fixed-weighted price index.,
Final sales:
1982 dollars
,
Chain price index
Fixed-weighted price index............
Final sales to domestic purchasers:
1982 dollars . .
.
....
Chain price index
Fixed-weighted price index
Command-basis gross national product:
1982 dollars
Implicit price deflator
Gross domestic product:
1982 dollars
,
Implicit price deflator
Business:
1982 dollars
Implicit price deflator ..
.. ...
Nonfarm:
1982 dollars
. .
Implicit price deflator
Disposable personal income:
1982 dollars ....
1987
1986
1985
IV
I
II
12.0
9.7
2.1
1.5
1.0
III
IV
r
6.3
2.8
5.3
4.5 10.5 -7.1
10.5
1.7 -4.7
4.2
3.3
.8
1.3
4.6
3.8
11.2
6.8
4.1
4.5
4.4
6.0
3.5
2.3
2.4
2.6
13.1
10.0
2.9
5.5
4.9
8.5
12.3
4.3
1.7
2.1
13.7
10.9
2.5
3.2
2.9
3.4
2.7
.7
.7
.8
24.1
22.7
1.1
6.2
4.9
240 14.1
275 11.0
2.9
4.8
.6
.2
.6 -1.2
3.1
1.9
2.5 23.2
7 -16.4
1
28
20
.6
31
187
19.2
4.6
5.8
10.4
7.4
2.7
3.0
3.7
19.3 12.6 -10.7
3.8 -2.4
7.0
19:0 17.2 -10.2
6.1 -4.7 -1.0
-.4
.4 -4.2
.9
9.1 -1.4
4
.4 -3.2
0
7.7
1.2
.8
6.0
1.2 -1.7 -1.0
1.3
13.7
7.3
5.9
4.7
5.5
24.3
21.4
2.3
3.7
1.1
6.4 95.3 609
6 4 130.2 -67.1
2 -14.9
18.8
.6
-.9 . 2.0
2.3 -.9
-.5
.4
103
11.1
1.3
.1
-26.5
62.8 -42.3
-34.6 226.3 -64.8
64.2
12.3 -50.1
4.3
1.2
-1.6
-4.7
6.4
.3
9.3
3.7
5.4
5.5
5.5
8.0
4.3
3.5
3.8
4.0
5.1
.3
4.9
4.9
5.0
5.3
2.6
2.7
2.9
3.2
10.7
8.7
2.0
2.2
2.6
9.6
6.1
3.0
3.5
3.7
6.9
1.1
5.8
5.7
6.0
7.2
3.5
3:7
3.9
3.9
3.4
3.4
3.6
3.5
2.3
2.5
4.0
4.4
4.5
3.0
1.2
1.6
3.6
.6
.4
3.7
2.7
2.8
.6
3.3
3.5
3.1
4.5
4.5
4.2
3.6
3.6
2.6
2.5
2.7
2.7 -1.3
4.0
1.9
2.4
3.9
3.4
1.5
1.7
4.5
2.5
2.6
4.2 -2.5
3.7
2.5
3.9
2.7
4.8
3.4
3.5
3.6
2.3
2.4
4.7 -1.8
4.4
1.3
4.5
1.6
6.4
.6
.3
5.4
2.8
2.8
2.4 -3.5
4.4
3.4
4.5
3.4
2.8
3.3
2.7
2.4
1.6
4.4
4.3
1.8
1.9
.4
3.1
3.2
-.4
2.1
3.4
5.4
3.0
3.3
2.7
2.7
1.9
3.6
3.7
2.5
1.4
1.8
2.6
3.6
1.5
.7
4.7
4.2
3.1
3.0
2.8
2.4
1.9
3.3
4.0
1.8
1.4
1.8
2.7
3.6
1.4
0
5.2
3.9
3.0
3.5
2.7
2.4
1.1
2.5
4.9
2.5
.8
1.4
2.6
3.6
2.8
.4
4.3
3.9
5.9
2.3
5.1
2.9
7.3
2.6
7.5
6.5
6.0
.2
7.1 -3.1
1.8
15
8.3
2.6
8.7
4.9
3.7
3.8
4.1
8.1
4.6
13.1
10.2
11.7
NOTE.—The fixed-weighted price index and the chain price index, both of which are weighted
averages of the detailed prices used in the deflation of GNP, are measures of price change. In
calculating changes in these indexes, the composition of GNP is held constant. Consequently
these changes reflect only changes in prices. The fixed-weighted price index measures price
change over any period, using as weights the composition of GNP in 1982. The chain price index
measures price change between two consecutive periods, using as weights the composition of
1986
F
IV
2.6
.6
1.8
1.5
1.7
6.2
3.8
2.5
1.9
2.5
1985
GNP in the first period. The implicit price deflator is a byproduct of the deflation of GNP. It is
derived as the ratio of current- to constant-dollar GNP (multiplied by 100). It it the average of
the detailed prices used in the deflation of GNP, but the prices are weighted by the composition
of GNP in each period. Consequently, the implicit price deflator reflects not only changes in
prices but also changes in the composition of GNP, and its use as a measure of price change
should be avoided.
SURVEY OF CURRENT BUSINESS
May 1987
17
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
1987
1986
1. Compensation per hour of all persons in the business ecortomy other than farm and
2 Less- Contribution of su
IP
2.6
2.0
2.9
.6
.1
_i
-.4
.1
0
-.1
.1
.4
4
lements
_i
3 Plus- Contribution of housin and non rofit institutions
IV r
III
II
4. Less: Contribution of employees of government enterprises, unpaid family workers, and
.2
5. Equals: Wages and salaries per hour of employees in the private nonfarm economy
(percent change at annual rate)
2.1
6. Less: Contribution of nonproduction workers in manufactur ing
0
7. Less: Contribution of non-BLS data, detailed weighting, and seasonal adjustment
8. Equals: Average hourly earnings, production and nonsupe rvisory workers in the
private nonfarm economy (percent change at annual rate)
.3
1.8
2.8
1.3
-.1
-.4
-.2
1.0
.6
.3
-.7
1.1
1.2
2.9
2.1
r
Revised.
" Preliminary.
1. BLS estimates of changes in hourly compensation in the nonfarm business sector for the four quarters are 2.3, 2.3, 2.7, and
0.1 percent.
Table 2.—Cyclically Adjusted Federal Receipts, Expenditures, Surplus or Deficit(-), and Debt
[Billions of dollars; quarters at seasonally adjusted annual rates]
1987
19 86
19 85
I
II
III
IV
I
II
IV
I
8232
196
177
72
105
847 8
200
246
9
255
861.1
20.0
13.3
9.1
42
1 030 8
246
14 1
19
160
1 044 4
247
136
q q
III
Based on middle-expansion trend GNP:
Receipts:
Level
Percentage of trend GNP
Change from preceding period
Due to automatic inflation effects
Due to discretionary policy and other factors
Expenditures:
Level
Percentage of trend GNP
Change from preceding period
Due to automatic inflation effects
Due to discretionary policy and other factors
Surplus or deficit (-):
Level
Percentage of trend GNP..
Change from preceding period..
Due to automatic inflation effects
Due to discretionary policy and other factors
Debt:
At par value, end of period:
Level
Percentage of trend GNP
At market value, end of period:
Level
Percentage of trend GNP
. ..
7818
197
523
21 1
31 1
8176
196
358
164
194
7910
203
465
57
408
7531
191
379
53
432
7848
197
317
32
285
7981
197
133
66
67
7943
194
38
40
78
8055
195
112
16
96
9851
248
891
219
67 1
10305
247
454
186
268
9553
245
210
138
72
9704
246
151
27
124
9903
248
199
28
171
10242
253
339
45
294
10017
244
225
89
314
10449
25 2
432
33
399
103
1,050 4
244
60
78
18
2033
51
368
.7
36 1
2128
51
95
2.1
75
164 2
42
256
81
337
217 2
55
530
26
556
205 5
51
117
5
11 2
226 1
56
206
21
227
207 4
51
187
49
236
2394
58
320
17
303
207 6
49
31 8
53
265
196 6
46
110
42
152
1893
44
73
14
59
15198
38.3
17426
41.8
13277
341
13992
355
14396
361
1 5198
375
1 5526
379
1 634 7
395
1 6859
402
17426
412
17655
411
1,591.2
40.1
1,878.5
45.1
810.3
198
848.0
19.8
8199
205
7803
192
8137
198
8273
199
8240
195
8354
196
8538
198
8791
202
8920
202
9810
240
10276
240
9506
237
9662
238
9864
240
10206
245
9981
237
10419
245
1 0283
' 238
10422
240
10480
237
1796
42
1308
1859
46
1727
42
1934
46
174 1
41
2065
49
174 5
40
39707
35618
41662
36408
3 8928
3 532 5
39462
3 551 9
39929
3 571 5
40508
3 591 1
40984
36109
4 139 1
36308
4 1983
36507
42288
3 6708
4 2963
36910
4,083.7
36631
4,284.7
37444
4,003 6
36330
4,058 5
36530
4,106.5
36731
41660
36933
42150
37137
42569
37341
4 317 8
37546
4,349 1
3,775 3
4,418.7
3,796 1
Based on 6-percent unemployment rate trend GNP:
Receipts:
Level
Percentage of trend GNP
Expenditures:
Level
Percentage of trend GNP..
Surplus or deficit (-):
Level
Percentage of trend GNP.
Addenda:
Middle-expansion trend GNP:
Current dollars
1
1982 dollars .
6-percent unemployment rate trend GNP:
Current dollars
1982 dollars
182-993 - 87 - 2 QL 3
1707
42^
q O
163 1
38
1561
35
By THAE S. PARK
Relationship Between Personal Income and
Adjusted Gross Income, 1983-85
THE reconciliation of the
Bureau of
Economic Analysis (BEA) measure of
personal income with the Internal
Revenue Service (IRS) measure of adjusted gross income (AGI) by type of
income for 1983 is revised and1 extended to 1984-85 in this article. The
reconciliation incorporates personal
income estimates for 1983-85 published in the July 1986 national
1. Estimates for earlier years are in "Relationship
Between Personal Income and Adjusted Gross Income:
Revised Estimates, 1947-83," SURVEY OF CURRENT
BUSINESS 66 (May 1986): 34-40. In the National
Income and Product Account Tables, the reconciliation appears in table 8.14.
income and product accounts revision,
final estimates of AGI for 1983-84,
and a preliminary estimate of AGI for
1985. The personal income estimates
for 1984 and 1985 will be subject to
further revisions.
The reconciliation items (lines 3-9
and 11-15) in tables 1-3 allow the
construction from personal income
(line 1) of a BEA-derived AGI (line 22)
that conforms to the IRS definition of
AGI (line 23). The difference between
the BEA-derived AGI and the IRS
measure of AGI is called the AGI gap
(line 29). The AGI gap can be viewed
as evidence of noncompliance with
the tax code, but with the following
caveats: The AGI gap includes income
earned by low-income individuals who
are not required to file income tax returns, unreported income identified
by IRS audit programs that is included in personal income, gross errors
and omissions in the estimate of reconciliation items, and the net effect of
errors
in personal income and AGI of
IRS.2
2. For a discussion of why the AGI gap is not a
measure of the size of the underground economy, see
Carol S. Carson, "The Underground Economy: An Introduction," SURVEY 64 (July 1984): 107.
Table 1.—Reconciliation of Personal Income and Adjusted Gross Income, by Type of Income, 1983
[Billions of dollars]
Proprietors'
income 1
Personal
dividend
income
Rental
income
of
persons 2
Personal
interest
income
13.2
393.1
Taxable
Taxable
unempensions ployment
and
compenannuities
sation
Other
personal
income
Income
not
included
in
personal
income
Wages
and
salaries
Farm
2,838.6
1,676.6
12.4
2 Less: Portion of personal income not included in adjusted
gross income.
887.2
15.3
-.1
38.1
12.2
-6.1
185.4
0
0
561.0
3
388.5
0
0
0
0
0
0
0
0
388.5
0
171.7
54.4
86.8
0
7.8
0
0
5.6
0
0
2.2
0
0
0
0
0
-12.4
0
0
51.3
86.8
0
0
0
0
0
0
171.7
0
0
0
0
0
28.7
0
0
0
50.6
0
-5.7
Personal
income
Line
1 Personal income
4
5
6
7
8
9
Transfer payments except taxable military retirement
and taxable government pensions.
Other labor income except fees
Imputed income in personal income
Investment income retained by life insurance carriers
and private noninsured pensions funds.
Investment income received by nonprofit institutions or
retained by fiduciaries.
Differences in accounting treatment between NIPA's
and tax regulations, net.
Other personal income exempt or excluded from
adjusted gross income.
Nonfarm
178.4
68.7
4
44.7
9.5
5
0
442.0
6
81.4
6.6
1.3
19.9
0
0
7
35.7
1.8
5.0
13.8
0
0
0
0
13.7
0
0
0
81.4
.2
.8
106.5
7.5
0
0
3.8
0
10 Plus: Portion of adjusted gross income not included in
personal income.
224.9
4.5
0
1.0
0
1.5
0
49.4
0
120.1
48.4
11
12
13
14
15
120.1
50.6
49.4
2.0
2.9
0
0
0
0
4.5
0
0
0
0
0
0
0
0
0
1.0
0
0
0
0
0
0
0
0
0
1.5
0
0
0
0
0
0
0
49.4
0
(*)
0
0
0
0
0
120.1
0
0
0
0
0
50.6
0
2.0
-4.2
16 Plus: Intercomponent reallocation
0
3.2
(*)
7.7
13.6
0
-22.1
-1.4
0
-1.0
0
17
18
19
20
21
0
0
0
0
0
1.8
0
0
0
1.4
0
0
0
0
0
13.6
0
0
0
0
0
0
0
0
-8.4
0
0
0
0
0
-13.6
-1.4
0
0
0
0
0
-1.8
.8
0
0
0
0
0
0
0
0
149.1
70.1
20.8
185.6
92.7
9.5
60.4
48.6
-3.3
153.8
69.8
7.1
9
Personal contributions for social insurance
Net gain from sale of assets
Taxable private pensions 8
Small business corporation income
Other types of income
Fees in other labor income
Fiduciaries' share of partnership income
Interest received by nonfarm proprietors
Interest distributed by regulated investment companies...
Disability income payments
22 Equals: BEA-derived adjusted gross income
2,176.3
1,669.1
23 Adjusted gross income of IRS (as reported)
1,942.6
1,644.6
(*)0
0
0
12.5
-9.3
24 Plus: Intercomponent reallocation
0
0
-.1
25
26
27
0
0
0
0
0
0
(*)
-.1
0
Estate or trust income
Partnership income
Other reallocations
28 Adjusted gross income of IRS (reallocated)
29 Adjusted gross income (AGI) gap
30
31
32
Percent distribution of AGI gap
AGI gap as a percentage of BEA-derived AGI
AGI of IRS as a percentage of BEA-derived AGI
See footnotes at the end of table 3.
18
0
4.0
33.0
-33.0
0
.9
5.1
0
0
-4.0
0
.6
24
0
0
0
0
.9
0
0
5.1
0
0
0
0
0
0
0
0
-6.5
2.5
0
0
0
0
-2.5
-1.8
-9.4
58.5
48.6
158.9
69.8
7.1
0
-33.0
233.7
24.5
21.9
90.6
21.6
23.3
26.7
22.9
2.3
0
0
100.0
10.7
89.3
10.5
1.5
98.5
9.4
174.9
(**)
38.7
60.7
39.3
9.2
30.7
69.3
10.0
112.0
(**)
11.4
14.4
85.6
9.8
24.7
75.3
1.0
24.8
75.2
1,942.6
.
7
8.4
0
0
1,644.6
SURVEY OF CURRENT BUSINESS
May 1987
For 1984 and 1985 a new type of
income is shown. The addition results
from provisions of the 1983 Social Security Amendments and Railroad Retirement Solvency Act, which—beginning in tax year 1984—made portions
of old-age, survivors, and disability insurance (OASDI) benefits and railroad
retirement benefits subject to income
tax. In 1984 and 1985 personal income
includes $177.6 billion and $188.0 billion of these benefits, respectively, of
which BEA estimated that the taxable portion was $26.8 billion and
19
percent for 1984 and 1985, respectively. A recent IRS study indicates that
the gap is mostly accounted for by
nonreporting of benefits by recipients
who are not required to file a tax
return.3 In addition, it is likely that
many recipients did not report the
benefits because they were unaware
of the law change.
$27.9 billion. (These amounts are
shown in tables 2 and 3 in line 1 of
the newly added column called "taxable social security benefits.") In both
of those years, however, taxpayers reported $51.8 billion and $65.6 billion,
respectively, in total benefit payments
on tax returns, of which $7.9 billion
and $9.7 billion were included in AGI.
Consequently, the AGI gap for taxable social security and railroad retirement benefits as a percentage of
the corresponding BEA-derived benefits is large—70.6 percent and 65.1
3. U.S. Department of Treasury, Internal Revenue
Service, "Age and Tax Filing, 1981," by Ralph B. Bristol, Jr., in Statistics of Income Bulletin, Vol. 5, No. 2
(Washington, D.C.: U.S. Government Printing Office,
Fall 1985), pp. 29-37.
Table 2.—Reconciliation of Personal Income and Adjusted Gross Income, by Type of Income, 1984
[Billions of dollars]
Proprietors'
income 1
Personal
dividend
income
Rental
income
of
persons 2
Personal
income
Wages
and
salaries
3,110.2
1,836.8
31.5
205.3
74.7
2 Less: Portion of personal income not included in adjusted gross
income.
938.9
16.3
14.2
44.7
20.2
3
375.5
0
0
0
0
0
182.5
51.5
95.4
0
8.4
0
0
5.6
0
0
2.3
0
0
0
0
0
-18.6
0
Line
1 Personal income
4
5
6
7
Transfer payments except taxable military retirement,
taxable government pensions, and taxable social
security benefits.
Other labor income except fees
Imputed income in personal income
Investment income retained by life insurance carriers
and private noninsured pensions funds.
Investment income received by nonprofit institutions or
retained by fiduciaries.
Differences in accounting treatment between NIPA's
and tax regulations, net.
Other personal income exempt or excluded from
adjusted gross income.
Nonfarm
Farm
8.3
-11.6
0
558.8
0
0
0
0
375.5
0
0
53.9
95.4
0
0
0
0
0
0
0
0
0
182.5
0
0
0
0
0
0
0
0
7
0
0
0
0
0
10.1
0
15.0
0
0
0
0
89.7
0
11
12
13
14
15
133.5
56.2
58.4
6.2
7
0
0
0
0
4.1
0
0
0
0
0
0
0
0
0
16 Plus: Intercomponent reallocation
0
2.0
-.1
12.7
17.0
0
17
18
19
20
21
0
0
0
0
0
2.0
0
0
0
0
0
0
0
0
0
17.0
0
0
0
0
0
0
21.7
.9
.9
.8
0
1.8
0
58.4
0
0
133.5
54.8
0
0
0
0
0
0
0
0
0
1.8
0
0
0
0
0
0
0
58.4
0
(*)
0
0
0
0
0
0
0
0
0
0
133.5
0
0
0
0
0
56.2
0
6.2
-7.6
-30.4
0
0
0
-1.2
0
0
0
134
-17.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-2.0
.8
0
0
0
0
0
0
0
0
210.0
104.8
7.1
26.8
0
-35.0
176.4
80.4
6.1
7.9
-1.3
-35.0
1
0
0
0
7
13.4
0
0
17.1
174.3
71.5
70.8
48.6
-13.1
0
0
4.1
1,807.1
89.7
0
0
253.6
1,826.6
6
206.5
22.0
10 Plus: Portion of adjusted gross income not included in personal
income.
2,139.9
0
426.5
20.2
0
2,424.9
5
1.5
7.9
22 Equals: BEA-derived adjusted gross income
26.8
5.6
122.7
23 Adjusted gross income of IRS (as reported)
7.1
Income
not
included in
personal
income
3.1
8.7
Fees in other labor income
Fiduciaries' share of partnership income
Interest received by nonfarm proprietors
Interest distributed by regulated investment companies ....
Disability income payments
46.3
Other
personal
income
7.0
0
0
Personal contributions for social insurance .
Net gain from sale of assets
.
Taxable private pensions 8
Small business corporation income
Other types of income
. . . .
4
Taxable Taxable
social
unemployment security
benecompenfits3
sation
.2
0
79.8
9
446.9
Taxable
pensions
and
annuities
42.2
31.4
8
Personal
interest
income
-8.0
24 Plus: Intercomponent reallocation
0
0
14
6.5
0
1.0
5.6
0
0
0
9
1.3
0
25
26
27
0
0
0
0
0
0
.1
-1.5
0
.5
-7.0
0
0
0
0
1.0
0
0
5.6
0
0
0
0
0
0
0
0
0
0
0
-7.1
8.4
0
0
0
0
Estate or trust income
Partnership income
Other reallocations
2,139.9
1,807.1
64.3
48.6
181.9
80.4
6.1
7.9
0
-35.0
29 Adjusted gross income (AGI) gap
285.0
19.5
31.6
110.0
22.8
28.8
28.1
24.3
1.0
18.9
0
0
30
31
32
100.0
11.8
88.2
6.8
1.1
98.9
11.1
184.5
(**)
38.6
63.1
66.9
8.0
31.9
78.1
10.1
132.6
(**)
9.9
13.4
86.6
8.5
23.2
76.8
.4
14.2
85.8
6.6
70.6
29.4
28 Adjusted gross income of IRS (reallocated)
Percent distribution of AGI gap
AGI gap as a percentage of BEA-derived AGI
AGI of IRS as a percentage of BEA-derived AGI
See footnotes at the end of table 3.
"
-14.5
-7.1
20
May 1987
SURVEY OF CURRENT BUSINESS
Table 3.—Reconciliation of Personal Income and Adjusted Gross Income, by Type of Income, 1985
[Billions of dollars]
Line
Personal
income
Wages
and
salaries
Proprietors'
income l
Personal
dividend
income
Nonfarm
Farm
1 Personal income
3,314.5
1,966.1
29.2
225.2
76.4
2 Less: Portion of personal income not included in adjusted gross
income.
1,013.9
1,743.2
5.4
55.3
20.4
Transfer payments except taxable military retirement,
taxable government pensions, and taxable social security
benefits.
Other labor income except fees
Imputed income in personal income
Investment income retained by life insurance carriers
and private noninsured pensions funds.
Investment income received by nonprofit institutions or
retained by fiduciaries.
Differences in accounting treatment between NIPA's
and tax regulations, net.
Other personal income exempt or excluded from
adjusted gross income.
399.1
0
0
0
0
194.7
61.2
102.3
0
8.9
0
0
4.7
0
0
2.5
0
0
0
0
35.8
0
0
85.1
0
135.8
8.5
10 Plus: Portion of adjusted gross income not included in personal
income.
293.8
11
12
13
14
15
3
4
5
6
Rental
income
of
persons 2
7.6
-11.7
Personal
interest
income
476.2
Taxable
pensions
and
annuities
4
52.6
Taxable
unemployment
compensation
Taxable
social
security
benefits 3
7.4
27.9
Other
personal
income
5
Income
not
included in
personal
income
0
445.8
6
94.9
237.4
0
0
0
594.7
0
0
0
0
0
399.1
0
0
187
0
0
63.9
102.3
0
0
0
0
0
0
0
0
0
194.7
0
0
0
0
0
.2
7.3
1.5
26.0
0
0
0
7
.9
0
52.7
3.3
5.6
22.7
0
0
0
0
0
0
0
9.8
0
22.5
0
0
0
0
94.9
4.3
0
1.0
0
2.0
0
65.4
0
0
150.2
70.9
150.2
68.4
65.4
7.9
1.9
0
0
0
0
4.3
0
0
0
0
0
0
0
0
0
1.0
0
0
0
0
0
0
0
0
0
2.0
0
0
0
0
0
0
0
65.4
0
(*)
0
0
0
0
0
0
0
0
0
0
150.2
0
0
0
0
0
68.4
0
7.9
-5.4
16 Plus: Intercomponent reallocation
0
2.2
13.3
15.0
0
29 0
0
0
0
13
0
17
18
19
20
21
0
0
0
0
0
2.2
0
0
0
0
2
0
0
0
0
7
14.0
0
0
0
0
0
15.0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-2.2
.9
0
0
0
0
0
0
0
0
23.7
184.1
71.0
0
24 1
77.2
55.4
4.6
24 1
-4.6
0
0
0
0
7
8
9
Personal contributions for social insurance
Net gain from sale of assets .
Taxable private pensions 8
Small business corporation income
Other types of income
Fees in other labor income
Fiduciaries' share of partnership income
Interest received by nonfarm proprietors
Interest distributed by regulated investment companies ....
Disability income payments
22 Equals' BEA-derived adjusted gross income
2,594.4
1,955.1
23 Adjusted gross income of IRS (as reported)
2,321.9
1,937.9
24 Plus: Intercomponent reallocation
25
26
27
Estate or trust income
Partnership income
Other reallocations
28 Adjusted gross income of IRS (reallocated) . .
29 Adjusted gross income (AGI) gap
30
31
32
Percent distribution of AGI gap
AGI gap as a percentage of BEA-derived AGI
AGI of IRS as a percentage of BEA-derived AGI
.2
0
-11.6
21.3
-10.2
0
0
-14.0
-15.0
0
209.9
118.0
7.4
27.9
180.8
95.7
6.3
9.7
9
0
0
-.2
-2.1
0
.1.0
5.9
0
0
0
0
0
0
0
0
0
.1
-.3
0
.6
-2.7
0
0
0
0
1.0
0
0
5.9
0
0
0
0
0
0
0
0
0
0
0
76
3.0
0
-9.2
2,321.9
1,937.9
11.8
75.1
55.4
186.7
95.7
6.3
9.7
0
24.1
272.5
17.2
35.4
109.0
15.5
30.5
23.2
22.3
1.1
18.2
0
0
100.0
10.5
89.5
6.3
.9
99.1
13.0
149.7
(**)
40.0
59.2
40.8
5.7
21.9
78.1
11.2
143.3
(**)
8.5
11.0
89.0
8.2
18.9
81.1
.4
14.8
85.2
6.7
65.1
34.9
* Less than $0.05 billion.
** Division by a negative number.
1. With inventory valuation and capital consumption adjustments.
2. With capital consumption adjustment.
3. Taxable social security benefits for 1984 and 1985 also include a small amount of taxable
railroad retirement benefits.
4. Consists of taxable portion of government transfer payments to persons included in personal
income-nondisability military retirement pay and Federal civilian and State and local government employee retirement benefits in excess of employee contributions.
.8
5. Consists of other labor income, nontaxable portion of government transfer payments to persons, business transfer payments, less personal contributions for social insurance.
6. Statutory adjustments.
7. Consists of partnership income retained by fiduciaries.
8. Taxable private pensions represent the portion of nongovernment pension benefits received
by individuals from annuity and pension plans in excess of the "investment in contract."
9. Consists of partnership and estate or trust net incomes.
By KIT D. FARBER and GARY L. RUTLEDGE
Pollution Abatement and Control Expenditures, 1982-85
Ri
L/EAL expenditures for pollution
abatement and control (PAC) increased 4.0 percent in 1985, about
one-half the 1984 rate of increase and
the same as the 1983 rate. PAC expenditures had declined in the preceding 3 years.
These expenditures are for goods
and services that U.S. residents use to
produce cleaner air and water and to
dispose of solid waste; they consist of
expenditures for pollution abatement,
regulation and monitoring, and research and development.1 Pollution
abatement (PA) directly reduces pollutant emissions by preventing the
generation of pollutants, recycling
them, or treating them prior to discharge. Regulation and monitoring is
a government activity that stimulates
and guides action to reduce pollutant
emissions. Research and development
not only supports abatement, but also
helps increase the efficiency of regulation and monitoring. PA expenditures—which account for over ninetenths of PAC expenditures—increased 4.4 percent in 1985. Spending
for regulation and monitoring declined 7.9 percent, and spending for
research and development declined
1.1 percent.
The first section of this article discusses real PAC spending in 1985,
1. PAC spending covers most, but not all, PAC activities, which are defined as those resulting from
rules and regulations restricting the release of pollutants into common-property media such as the air and
water; PAC spending excludes (1) PAC activities that
do not use productive resources (e.g., plant closings
due to PAC, delays in plant construction, or curtailments in the use of chemicals in manufacturing and
agriculture) and (2) PAC activities that, although resource-using, are nonmarket activities (e.g., volunteer
litter removal).
Estimates of PAC spending are based directly or indirectly on surveys. About three-fifths of the total estimate is based directly on surveys of PAC spending.
The remainder is based on more general survey information and assumptions necessary to utilize this information. For further information, see "Pollution Abatement and Control Expenditures, Revised Estimates for
1972-83 and Estimates for 1984," SURVEY OF CURRENT
BUSINESS 66 (July 1986).
price change for PAC goods and services in 1985, and likely 1986 real
spending. The next section describes
patterns of real PAC spending in
1983-85. The final section provides an
overview of trends in real PAC spending in 1972-85.
Tables 1-5 summarize the major
features of the PAC estimates. Table
1 provides an overview of 1985 real
spending. Tables 2 and 3 highlight
changes in spending and prices by
type of PAC and changes in spending
by sector, respectively. Table 4 provides more information by type of
PAC; it organizes estimates according
to definitions from PAC legislation.
Table 5, organized in the same way,
shows average annual growth rates in
real PAC spending for 1972-85 and
subperiods. The underlying detailed
PAC estimates, prepared in a framework consistent with the national economic accounts, are in tables 6 and 7
for 1982-85. In table 6, the functions
of purchases (PA, regulation and
monitoring, and research and development), the purchasing sectors (persons, business, and government), and
accounting distinctions (capital account, current account) are in the
rows, and types of PAC (air, water,
solid waste, and other) are the columns. In table 7, additional detail for
business and government purchases is
given for air and water pollution
abatement. (Estimates for years prior
NOTE.—Gary L. Rutledge, Chief of the Environmental Economics Division, supervised the
preparation of the estimates. Kit D. Farber
planned and coordinated the compilation and
analysis of estimates. Preparation of estimates
involved the entire staff: Personal consumption—Frederick G. Kappler; business—Frederick J. Dreiling, Kit D. Farber, Frederick G.
Kappler, Richard R. Speigel, Nikolaos A. Stergioulas, and Howard J. White; and government—Frederick J. Dreiling, Kit D. Farber,
Richard R. Speigel, and Howard J. White.
Brenda G. Davis and Shirley D. Tisdale provided secretarial and statistical assistant services,
respectively.
Table 1.—Constant-Dollar PAC Spending in
1985
[Billions of 1982 dollars]
Level"
Change from
preceding year
Dollar ' Percent p
Pollution abatement and control.....
67.3
2.58
4.0
Pollution abatement
Personal consumption
Motor vehicle emission
abatement devices
Operation of devices
...
Business
Capital
Motor vehicle emission
abatement devices....
Plant and equipment
Other
Current account
Operation of motor vehicle
emission abatement
devices
...
Operation of plant and
equipment....
Operation of public sewer
systems
Costs recovered
Other
64.0
11.4
2.70
.77
4.4
7.3
7.6
3.8
40.8
14.9
.62
.15
1.33
.37
8.9
4.1
3.4
2.5
4.6
7.9
2.4
25.9
.29
.03
.05
.96
6.8
.3
2.3
3.9
3.3
Government
Public sewer system
construction
Other
Regulation and monitoring
Research and development
...
2.7
.09
16.3
.17
1.1
5.9
-1.2
2.2
.30
.32
.09
5.3
21.0
4.5
11.9
.60
5.3
6.7
5.2
.32
.27
5.1
5.6
1.1
2.1
-.10
-.02
-7.9
-1.1
p
Preliminary.
NOTE.—Based on table 6.
to 1982 are in the July 1986 SURVEY
article on PAC spending.)
Recent estimates
Real PAC spending in 1985.— Total
PAC spending in 1985 increased $2.6
billion to $67.3 billion in 1982 dollars
(table 1). PA spending increased $2.7
billion to $64.0 billion; the rest of
PAC—regulation, monitoring, research, and development—declined
$0.1 billion to $3.3 billion.
Business, government, and persons
all contributed to the 1985 increase in
PA spending. Business PA spending
increased $1.3 billion (3.4 percent) to
$40.8 billion. Capital spending increased $0.4 billion to $14.9 billion,
mainly reflecting spending on motor
vehicle emission abatement devices as
unit sales of vehicles increased.
Spending on current account, i.e., to
21
22
operate and maintain capital (and reported net of the value of reclaimed
materials from pollution abatement,
referred to as costs recovered), increased $1.0 billion to $25.9 billion.
About $0.3 billion of the increase was
due to a reduction in the amount of
costs recovered, mainly in manufacturing operations. Spending to operate public sewer systems, classified as
a business activity in the national
economic accounts, also increased substantially. Spending to operate plant
and equipment increased $0.2 billion.
Government PA spending increased
$0.6 billion (5.3 percent) to $11.9 billion. One-half of the increase was by
State and local governments for the
construction of public sewer systems,
classified as a government activity in
the national economic accounts. In
addition, State and local government
spending for solid waste collection
and disposal increased $0.2 billion.
Federal PA spending increased slight-
ly.
Personal consumption spending for
PA, all of which is for the purchase
and operation of motor vehicle emission abatement devices, increased $0.8
billion (7.3 percent) to $11.4 billion in
1985. Purchases of these devices increased $0.6 billion; operating costs
increased $0.2 billion, mainly for the
additional cost of unleaded gasoline
(gallons multiplied by the cost difference between unleaded and leaded
gasoline).
Spending for PAC regulation and
monitoring continued a decline from
1980. A decline in Federal spending
overshadowed a small increase in
State and local government spending.
Spending for PAC research and development declined for the second
consecutive year. Government spending for research and development declined in 1985; business spending increased slightly.
Of the major types of PAC spending, air PAC spending increased $1.0
billion (3.3 percent) to $31.3 billion,
water PAC spending increased $1.2
billion (4.8 percent) to $25.1 billion,
and solid waste collection and disposal spending increased $0.3 billion (3.1
percent) to $11.3 billion (table 2).
Prices in 1985.—Prices of PAC
goods and services increased 3.1 percent in 1985 (table 2). PAC prices had
increased 3.4 percent in 1984. Air
PAC prices increased 2.1 percent in
1985, water PAC prices increased 3.5
percent, and solid waste collection
SURVEY OF CURRENT BUSINESS
May 1987
Table 2.—-PAC Spending in Current and Constant Dollars and Fixed-Weighted Price Indexes: Percent Change
ment solid waste collection and disposal. Total spending for motor vehicle emission abatement devices and
their operation remained about the
same as in 1985. Business PA capital
spending probably fell slightly, as indicated by plans reported by business
in the 1986 BEA survey of business
PA capital spending.
1972- Change from preceding
year
82
average
annu- 1982 1983 r 1984r 1985"
al
rate
Total:
Current dollars
1982 dollars
Fixed-weighted price index .
0.4
12.3
3.0 -4.4
4.8
8.9
7.1
4.0
3.0
11.5
7.8
3.4
7.1
4.0
3.1
Air:
Current dollars
1982 dollars
Fixed-weighted price index .
15.5 -.5
5.0 -3.5
9.1
2.9
8.0
6.6
1.2
10.6
8.0
2.3
5.6
3.3
2.1
Water:
Current dollars
1982 dollars
Fixed-weighted price index .
1.7
9.6
.8 -3.7
9.1
5.6
5.7
1.6
4.2
11.8
7.6
3.8
8.3
4.8
3.5
Solid waste:
Current dollars
1982 dollars
Fixed-weighted price index .
11.6 -3.7
3.3 -10.3
7.3
8.1
5.6
.8
4.9
15.8
10.3
4.9
7.1
3.1
4.1
Patterns in real PAC spending,
1983-85
As noted earlier, total PAC spending increased in each of the last 3
years—the 4.0-percent increase in
1985 followed a 7.8-percent increase in
1984 and a 4.0-percent increase in
1983. In 1983, when economic activity
was reviving, the increase in total
PAC spending was largely traceable
to the complementary relationship between pollution abatement and conventional production. In 1984, the increase was not only due to the continued upswing in economic activity but
also a surge in environmental regulatory activity. Increased concern about
environmental issues, which stimulates environmental regulatory activity and PAC spending, had emerged in
1983 but intensified during the 1984
election year, as evidenced by the passage of the first major environmental
legislation in 4 years—the 1984 Resource Conservation and Recovery
Act Amendments. In 1984, increases
in PAC spending were spread widely
across all major sectors and all types
of PAC. In 1985, increases in PAC
spending continued to be widespread,
r
Revised.
p
Preliminary.
NOTE.—Based on table 6.
and disposal prices increased 4.1 percent. The lower rate of price increase
for air PAC than for the other PAC
categories is mainly the result of declining energy prices (e.g., for unleaded gasoline) in 1985. Energy purchases, about one-third of total air
PAC purchases, are a very small portion of purchases for the other categories.
Real PAC spending in 1986.— The
limited data available as of mid-May
indicate an increase in real PAC
spending in 1986 somewhat less than
that in 1985. The increase was mainly
for construction of public sewer systems and for business and govern-
Table 3.—Constant-Dollar PAC Spending, by Sector
Millions of 1982 dollars
1982
1983 r
1984 T
1985 P
57,680
60,007
64,700
67,279
8,318
4,983
3,335
9,731
6,060
3,671
10,610
6,939
3,672
11,380
7,557
3,823
Business
On capital account
Motor vehicle emission abatement
Plant and equipment
Other
On current account ...
Motor vehicle emission abatement
Plant and equipment
Public2sewer systems *
Other
36,761
13,431
2,678
8,949
1,804
23,330
2,468
14,081
5,159
1,622
38,124
12,898
3,231
7,615
2,052
25,226
2,619
14,998
5,475
2,133
41,024
14,522
4,288
7,890
2,344
26,502
2,649
16,174
5,649
2,031
Government
Public sewer system construction
Other 3
12,601
6,148
6,453
12,152
5,551
6,601
13,066
6,387
6,679
Pollution abatement and control
Personal consumption
Durables
Nondurables
Percent change from preceding
year
1983'
1984'
1985"
-4.4
4.0
7.8
4.0
1.4
-1.0
5.3
17.0
21.6
10.1
9.0
14.5
(*)
7.3
8.9
4.1
42,397
14,892
4,579
7,916
2,397
27,505
2,737
16,345
5,946
2,477
50
61
-4.4
-7.4
-1.4
-4.4
2.9
-10.9
5.7
23.4
3.7
-4.0
20.6
-14.9
13.8
8.1
6.1
6.5
6.1
31.5
7.6
12.6
32.7
3.6
14.2
5.1
1.1
7.8
3.2
48
3.3
2.5
6.8
.3
2.3
3.8
3.3
1.1
5.3
21.9
13,503
6,711
6,792
-6.1
107
-1.2
36
97
2.3
7.5
15.1
1.2
3.3
5.1
1.7
1982
r
Revised.
"Preliminary.
* Less than 0.1 percent.
1. Spending to operate public sewer systems is classified in the national income and product accounts as business spending.
Construction of public sewer systems is classified in the national income and product accounts as government spending.
2. For this table, private purchases for research and development are included with business pollution abatement spending on
current account.
3. For this table, spending for government regulation and monitoring and for research and development are included with
government pollution abatement spending.
NOTE.—Based on table 6.
SURVEY OF CURRENT BUSINESS
May 1987
increased only slightly in 1985, following a moderate increase in 1984 and a
sharp decline in 1983.
The 3.3-percent increase in government spending for PAC in 1985 followed a 7.5-percent increase in 1984
and a 3.6-percent decline in 1983.
Spending for construction of public
sewer systems, the largest single component of government PAC spending,
accounted for about one-half of the increase in 1985, about three-fourths of
the increase in 1984, and almost all of
the decline in 1983.
The rates of increase in personal
consumption spending were higher
than those in the total each year. The
7.3-percent increase in spending in
1985 followed increases of 9.0 percent
in 1984 and 17.0 percent in 1983.
Spending for purchases of motor vehicle emission abatement devices, about
two-thirds of total personal spending,
accounted for most of the increase in
personal spending in recent years.
but they moderated along with economic activity and environmental
regulatory activity.
Real spending by sector.—Spending
by business for PAC, which accounts
for almost two-thirds of total PAC
spending, showed a pattern similar to
that of total spending, although in
1985, as in 1984 and 1983, the rate of
increase was slightly lower than that
in the total (table 3). The 3.3-percent
increase in business spending in 1985
followed increases of 7.6 percent in
1984 and 3.7 percent in 1983. Spending to operate industrial plant and
equipment and public sewer systems,
about one-half of total business spending, accounted for much of the increase in business spending in recent
years. Such spending increased 2.1
percent in 1985, 6.6 percent in 1984,
and 6.4 percent in 1983. Spending to
purchase industrial plant and equipment, about one-third of total business spending, was more volatile; it
Table 4.—Constant-Dollar PAC Spending, by Type
Percent change from preceding
year
Millions of 1982 dollars
Pollution abatement and control
Pollution
abatement
Air 1
Mobile sources 2
Devices
Operation of devices
Stationary sources
Facilities 3
Industrial
Other4
Operation of facilities
Industrial
Other5
Water6
Point sources
Facilities 3
Industrial
y
Other7
Operation of facilities
Industrial
Public 5sewer systems
Other
Nonpoint sources
Solid waste
Industrial
Other8
Other 9
. ...
1982
1983 r
1984 r
1985"
1982
57,680
60,007
64,700
67,279
-4.4
54,500 56,453
24,961 26,367
13,464 15,581
7,662
9,290
5,803
6,290
11,496 10,785
4,520
5,594
5,086
4,104
508
416
5,902
6,266
5,990
5,675
276
227
21,199 21,543
20,006 20,428
10,571 10,001
3,080
2,811
6,148
5,551
1,343
1,639
9,435 10,427
4,022
4,509
5,475
5,156
443
255
1,190
1,115
9,597
9,740
5,200
5,168
4,429
4,540
1256 -1,196
61,313 64,012
28,577 29,522
17,547 18,696
11,226 12,136
6,560
6,321
11,030 10,826
4,239
4,511
3,929
4,115
310
396
6,587
6,519
6,342
6,260
246
260
23,277 24,431
22,111 23,246
11,191 11,675
2,941
2,900
6,711
6,387
2,023
1,904
10,920 11,571
5,042
4,795
5,946
5,649
582
477
1,185
1,166
10,760 11,061
6,005
5,994
5,056
4,765
1301 —1,002
1984 r
1985"
4.0
7.8
4.0
-4.3
34
.5
22
4.3
76
56
66
3.6
5.6
15.7
21.3
8.4
-6.2
192
193
8.6
8.4
12.6
20.8
.5
2.3
-.2
.3
4.4
3.3
6.5
8.1
3.8
-1.9
-6.0
-4.5
95
99
6.2
5.6
4.0
4.5
1.0
1.3
-3.6
-3.6
-7.6
-5.5
-10.7
1.6
2.1
54
-8.7
97
8.0
8.2
11.9
3.2
15.1
5.0
5.1
4.3
1.4
5.1
1.4
-3.8
5.7
10.5
12.1
6.2
4.7
6.3
3.2
6.0
5.2
5.3
-4.0
-10.7
179
-.5
-22.7
-6.3
1.5
.6
2.5
-4.8
4.5
10.5
15.3
5.0
8.8
1.6
2.8
.2
6.1
-23.0
-5.9
6.4
7.9
Regulation and monitoring
Air
Water
Solid waste
Other 9
1,397
324
497
242
335
1,315
310
448
149
408
1,231
316
428
162
325
1,134
306
451
196
181
-5.6
Research and development
Air
Water
Solid waste
Other 9
1,783
1,039
257
71
416
2,239
1,393
307
96
443
2,157
1,411
283
91
372
2,134
1,470
263
92
309
-5.4
r
p
1983 r
25.6
-3.7
1.1
Revised.
Preliminary.
1. The Clean Air Act classifies sources of pollutants as either mobile, such as passenger cars, or stationary, such as factories.
2. Excludes spending to reduce emissions from mobile sources other than cars and trucks.
3. Consists of new plant and equipment expenditures for pollution abatement according to results from the plant and
equipment expenditures survey by BEA.
4. Consists of spending for fixed capital of government enterprises such as the Tennessee Valley Authority.
5. Consists of spending to operate government enterprises and all spending by government; separate data on spending to
acquire and operate government pollution abatement facilities are not available.
6. The Federal Water Pollution Control Act defines point sources as facilities that discharge to a body of water through a pipe
or ditch.
7. Consists of spending for private connectors to public sewer systems, capital spending by owners of feedlots, and spending
for fixed capital of government enterprises such as the Tennessee Valley Authority.
8. Consists of spending by Federal, State, and local governments for the collection and disposal of solid waste and of spending
by households for collection and disposal of solid waste by business.
9. Consists of "other and unallocated" spending from table 6.
23
Real spending by type.—Table 4 organizes estimates of PAC spending according to definitions emphasized in
PAC legislation. For air PA, the
Clean Air Act classifies sources of pollutants as mobile (e.g., cars) or stationary (e.g., factories). For water PA,
the Federal Water Pollution Control
Act classifies sources as point (e.g.,
factories) or nonpoint (e.g., highway
construction projects).
Spending for air PA, which accounts for over two-fifths of total PAC
spending, showed a pattern generally
similar to that of total spending, although the rate of increase was lower
in 1985 and higher in earlier years
than for the total. The 3.3-percent increase in air PA spending in 1985 followed increases of 8.4 percent in 1984
and 5.6 percent in 1983. Spending for
mobile sources, which in recent years
increased to about three-fifths of total
air PA spending, accounted for all of
the increase in 1985 and 1983 and
most of the increase in 1984. Such
spending increased 6.5 percent in
1985, 12.6 percent in 1984, and 15.7
percent in 1983. Spending for stationary sources declined 1.9 percent in
1985, increased 2.3 percent in 1984,
and declined 6.2 percent in 1983. This
pattern is traceable to changes in
spending for purchases of industrial
facilities; spending for operation of industrial facilities increased each year.
The 5.0-percent increase in water
PA spending in 1985 followed increases of 8.0 percent in 1984 and 1.6
percent in 1983, reflecting increases
for point sources, almost all of total
water PA spending. Increases in
spending for operation of facilities accounted for part of the increase in
1985 and 1984 and all of the increase
in 1983. Such spending increased 6.0
percent in 1985, 4.7 percent in 1984,
and 10.5 percent in 1983. Spending for
facilities, dominated by construction
of public sewer systems, increased 4.3
percent in 1985 and 11.9 percent in
1984 after having declined 5.4 percent
in 1983.
The 2.8-percent increase in spending for solid waste disposal followed
increases of 10.5 percent in 1984 and
1.5 percent in 1983. Industrial spending increased slightly in 1985 and
1983, but sharply in 1984, accounting
for the fluctuation in the total. Other
spending, almost all for the collection
and disposal of solid waste by local
governments, increased moderately
each year.
Table 5.—Major Components of Constant-Dollar PAC Spending: Average Annual Rate of
Change, 1972-85 and Subperiods
[Percent]
Distribution of Constant-Dollar Pollution Abatement and
Control Spending by Major Component 1972 and 1985
1985
($43,025 million)
Regulation & Monitoring (1.8%) •
Motor Vehicle Devices (2.9%)
Research & Development -
Subperiods
Pollution abatement and
control
Pollution abatement
Air
Mobile sources ..
Devices
Operation of devices
Stationary sources
Facilities ..
Industrial
Operation of facilities
Industrial
Water
Point sources
,
Facilities
Industrial
Public sewer systems...
Operation of facilities
Industrial
Public sewer systems...
Nonpoint sources
Solid waste
Industrial
Other
Other
Regulation and monitoring
Research and development
CHART 1
1972
85
3.5
3.6
5.5
11.0
19.1
4.7
.8
16
19
2.8
3.0
1.7
2.1
-.3
-.9
-.2
5.7
5.5
5.6
-3.6
3.5
4.5
2.4
-.7
2.9
.7
197279
197982
5.7
31
5.7 -2.9
.7
7.6
4.6
13.5
11.5
23.7
8.2 -2.3
3.8 -3.3
2.8 -4.0
2.4 -5.2
4.8 -2.6
5.0 -2.4
4.3 -7.1
4.9 -7.0
3.7 -12.2
2.8 -8.4
5.2 -14.3
.6
7.4
7.7 -1.6
4.0
6.5
-9.4
-2.4
5.3 -2.1
8.1 -4.1
.5
2.4
5.7 -8.2
.1
8.6
2.9 -9.2
($67,279 million)
198285
5.3
5.5
5.8
11.6
16.6
4.2
-2.0
-8.8
-8.2
3.7
3.8
4.8
5.1
3.4
-1.5
3.0
7.0
7.8
4.9
-.1
4.8
5.1
4.5
-7.3
-6.7
6.2
Trends in real PAC spending, 1972-85
PAC spending trended upward over
the 1972-85 period for which data are
available, at an average annual rate
of 3.5 percent (table 5). After a downturn in 1979-82, PAC spending continued up at nearly the same rate as
before. The increases in 1972-79 and,
to a lesser extent, in 1982-85 were
broadly based. The downturn in total
spending in 1979-82 was mainly due
to reduced funding for public sewer
system construction, although several
other categories contributed.
The 5.5-percent increase in air PA
spending in 1972-85—the largest increase by type—was primarily due to
large increases in each subperiod in
spending for purchases of devices to
abate air pollution from mobile
sources. Operation of industrial facilities to abate air pollution from stationary sources increased overall, but
declined in 1979-82. Purchases of
such facilities declined overall, having
increased only moderately in 1972-79.
May 1987
SURVEY OF CURRENT BUSINESS
24
Construction of
Public Sewer Systems
(15,9%)
Construction of
Public Sewer Systems
(10.0%)
Regulation & Monitoring (1.7%)
'
Research & Development (3.2%)-1
U.S. Department of Commerce, Bureau of Economic Analysis
The 1.7-percent increase in water
PA spending in 1972-85 was attributable to the overall increase in operation of facilities to abate Water pollution from point sources. Purchases of
facilities declined overall; the moderate recovery in 1982-85 did not offset
the large decline in 1979-82, when
government spending for the construction of public sewer systems declined sharply (14.3 percent).
The 3.5-percent increase in spending for solid waste disposal! in 1972-85
was primarily due to increases in industrial spending, which isj mostly for
operation of facilities. A decline in industrial spending in 1979-82 contributed to the decline in total PAC
spending in that subperiod.
Less than one-tenth of total PAC
has typically been spent on regulation, monitoring, research, and development. Regulation and monitoring
increased 2.9 percent in 1972-85; it
declined only in 1982-85. Research
and development increased slightly in
1972-85; it contributed to the decline
in total PAC spending in 1979-82.
Abstracting from the fluctuations
in the subperiods, the distribution of
PAC spending in 1985 summarizes the
effect of trends in PAC spending
(chart 1). The distribution in 1985 was
very different from that in 1972. As a
share of total PAC spending, spending
for motor vehicle emission abatement
devices rose from 2.9 percent in 1972
to 18.0 percent in 1985, reflecting the
far higher than average rate of
growth for the period. Industrial capital spending as a share fell from 20.8
percent in 1972 to 11.8 percent in
1985, reflecting an overall negative
growth rate. Public sewer construction spending also fell as a share, also
reflecting a negative growth rate. Due
to augmented stocks of facilities of all
types—motor vehicles, industrial capital, and public sewer systems—spending for operation of facilities rose as a
share from 37.6 percent in 1972 to
42.9 percent in 1985.
SURVEY OF CURRENT BUSINESS
May 1987
25
Table 6.—Expenditures for Pollution Abatement and Control in Current and Constant Dollars and Selected Fixed-Weighted Price Indexes
1982
Total 1
Air
r
1983
Other
Solid
and
Water waste
unallo-2 Total ! Air
cated
1984
Other
and
l
Solid
Water waste
unallo-2 Total
cated
Air
r
1985 "
Other
l
and
Solid
Water waste
unallo-2 Total
cated
Air
Other
Solid
and
Water waste
unallocated 2
Millions of current dollars
Pollution abatement and control
Pollution abatement 3
Personal consumption
Durable goods
Nondurable goods and services
Business
On capital account
On current account
Private
Government enterprise
Costs recovered
Government. . . .
Federal
State and local
Government enterprise fixed capital ..
Regulation and monitoring
Federal
State and local
Research and development
Private
Federal
State and local...
57,680 26,323 21,952 9,910
54,500
8,318
4,983
3,335
35,610
13,431
22,179
18,324
5,318
-1,463
10,571
550
3,274
6,747
1,397
820
577
1,783
1,151
604
28
-505 61,779 28,419 23,214 10,469
24,961 21,199 9,597
1 256 58,060
8,318
9,771
6,214
4,983
3,335
3,557
16,048 14,445 6,580 -1,463 37,589
13,278
853
7,765 4,814
8,283 9,631 5,727 "-1J463" 24,311
4,454 5,727
8,143
19,907
141 5,177
('*')' 5,805
(*)
-1,463 -1,402
206 10,700
""595 "'6/754' "£017"
238
795
57
87
168
276 2,960
38 3,547
(*)
508 6,239
6,358
497
324
242
335 1,385
272
806
265
190
93
579
52
225
230
70
71
257
1,039
416 2,335
20
116
912
104 1,659
131
126
640
300
48
4
10
2
35
13
-323 68,908 31,418 25,955 12,119
-584 73,824 33,177 28,121 12,985
26,639 22,421 10,212 -1,212 65,210 29,539 25,173 11,840 -1,342 70,140
11,886
9,771
10,814 10,814
6,214
8,230
7,323 7,323
3,656
3,557
3,492 3,492
16,306 15,752 6,932 -1,402 42,126 18,180 17,321 8,188 -1,562 44,640
16,264
7,468 5,005
15,492 8,809 5,653 1,030
805
8,838 10,747 6,127
1 402 26,635 9,371 11,668 7,158 -1,562 28,376
22,938
21,969 9,224 5,586 7,158
8,696 5,084 6,127
143 5,663
(*')' 6,657
147 6,082
(*)
(*)
(*) 6,229
-1,562 -1,219
-1,402 -1,562
220 13,613
562 '"£670 "3'i279"
545 "7352" "3"652
189 12,269
443
136
140 1,114
197
492
944
97
119
115
290 3,161
4
80 4,305
333 3,455
14
92 3,882
8,194
422 5,936
7,443 416 7,027
473
327
355 1,314
180
158
475
351
427 1,362
635
241
346
76
72
88
219
101
743
405
679
104
232
9
256
619
22
85
239
250
320
1,453
403 2,370
99
307
462 2,337 1,528
100
167
154 1,801
29
172
28
1,315
149 1,714 1,359
550
240
65
120
590
66
143
133
165
299
20
10
9
5
14
4
32
14
6
6
-458
1 008
31,191 27,304 12,653
11,886
8,230
3,656
18,857 18,396 8,606 -1,218
5,896 1,241
9,128
9,730 12,500 7,365 -1,218
9,579 5,995 7,365
1
151 6,506
(*
-1,219
""448" '"8,908" 'ib'48"
210
135
230
639
110
75
403 3,818
10
328 7,866
206
524
229
355
200
90
240
105
6
284
139
250
344
103
293
1,631
162
31
181
1,428
180
70
100
200
2
2
12
4
Millions of constant (1982) dollars
Pollution abatement and control
Pollution abatement 3
Personal consumption
Durable goods
Nondurable goods and services
Business
On capital account
On current account
Private
Government enterprise
Costs recovered
Government
Federal
State and local
Government enterprise fixed capital ..
Regulation and monitoring...
Federal
State and local
Research and development
Private
Federal
State and local
57,680 26,323 21,952 9,910
54,500
8,318
4,983
3,335
35,610
13,431
22,179
18,324
5,318
-1,463
10,571
550
3,274
6,747
1,397
820
577
1,783
1,151
604
28
-505 60,007 28,070 22,297 9,985
24,961 21,199 9,597 -1,256 56,453
9,731
8,318
6,060
4,983
3,671
3,335
16,048 14,445 6,580 -1,463 36,533
12,898
853
7,765 4,814
8,283 9,631 5,727 "-1J463" 23,635
4,454 5,727
19,389
8,143
141 5,177
('*')' 5,632
(*)
-1,463 1386
595 6,754 3,017
206 10,188
238
87
771
57
168
276 2,960
38 3,375
(*)
508 6,239
6,043
497
324
242
335 1,315
272
93
771
265
190
52
225
230
545
70
257
1,039
71
416 2,239
116
912
104 1,591
20
131
126
615
300
48
4
10
2
34
13
-345 64,700 30,304 23,987 11,013
26,367 21,543 9,740 -1,196 61,313
10 610
9,731
6^939
6,060
3,672
3,671
16,081 15,228 6,611 -1,386 39,441
14,522
771
7,334 4,793
8,747 10,435 5,840 -1,386 24,919
20,630
8,609 4,941 5,840
137 5,494
(*)
(*) 5,805
1386 1516
555 6,315 3,129
190 11,261
424
884
96
116
135
265 3,013
4
94 3,508
6,869
416 5,626
310
149
448
408 1,231
230
84
681
387
69
,551
218
21
80
226
307
443 2,157
96
1,393
160
143 1,583
27
1,260
137
127
545
287
63
9
29
13
6
5
-604
67,279 31,298 25,144 11,349
-512
28,577 23,277 10,760 -1,301 64,012 29,522 24,431 11,061 -1,002
11,380 11,380
10 610
7,557 7,557
6,939
3,823 3,823
3,672
1 197
17,446 16,069 7,441 -1,516 40,773 17,722 16,707 7,542
14,892 8,509 5,259 1,124
948
8,403 5,171
-1,197
9,044 10,898 6,493 "-"ijie" 25,881 9,213 11,447 6,418
20,975 9,079 5,479 6,418
8,908 5,229 6,493
1
135 5,968
135 5,669
(*)
""(*)' 6,103
(*)
-1,198
-1,516 -1,198
195
420 7,724 3,519
215 11,859
520 7,208 3,318
124
203
561
102
989
134
182
457
111
71
285 3,316
9
81 3,682
277 3,136
13
7,188 310 6,879
396 6,474
181
196
451
306
325 1,134
162
428
316
176
79
212
93
560
317
70
201
93
5
116
239
574 214
8
92
227
224
309
92
263
372 2,134 1,470
91
283
1,411
146
163
28
143 1,624 1,287
27
159
1,255
161
63
90
179
493
221
60
111
152
2
2
10
3
17
8
5
13
4
Selected fixed-weighted price indexes
Pollution abatement and control
Pollution abatement 3
Personal consumption
Business
On capital account
On current account
Government
Regulation and monitoring
Research and development
100.0
100.0
100.0
100.0
100.0
103.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
102.9
100.3
102.9
102.8
102.9
105.1
105.3
104.3
100.0
100.0
100.0
100.0
101.2
104.2
101.0
100.3
101.4
101.7
101.1
101.4
105.6
104.3
104.2
104.9
101.0
103.4
104.3
103.0
105.7
105.5
104.3
104.9
104.4
104.9
104.9
105.0
104.3
101.1
104.9
102.1
101.1
100.2
104.9
104.3
105.8
106.5 103.5
108.2
110.0
105.0
109.8
105.7
112.0 114.5
103.2
101.3
104.1
104.6
103.6
104.9
111.1
108.3
108.2
110.1
103.1
109.6
103.6
109.5
108.8
109.9
114.7
115.4
111.2
105.3
103.6
106.2
106.6
105.7
106.2
116.1
111.0
111.9 114.5
102.6
"Tib"2" "li'42"
ioiis
106.3
101.3
106.7
106.4
106.9
109.0
110.4
108.4
""iffi's "iib'lb" """l03".i'
109.0
107.2
109.0
110.7
108.5
108.6
110.2
110.2
109.9
108.5
103.1
103.1
109.8
108.5
111.9
109.3
115.5
115.8
111.5
110.4
114.8
115.1
114.7
111.7
101.8
108.5
114.7
111.5
Addendum: Business capital consumption allowance (millions of dollars) 4
Value at replacement cost in current
dollars
Value at replacement cost in constant
(1982) dollars
r
10,847
11,590
12,470
13,480
10,847
11,307
11,829
12,460
Revised.
Preliminary.
* Less than $500,000.
1. Includes expenditures for air and water pollution abatement and control. Includes expenditures for solid waste collection and disposal by means acceptable to Federal, State, and local authorities. Excludes agricultural production except feedlot operations.
p
182-993 - 87 - 3
2. "Other" includes expenditures for abatement and control of noise, radiation, and pesticide
pollution; "unallocated" includes business expenditures not assigned to media.
3. Expenditures are attributed to the sector that performs the air or water pollution abatement
or solid waste collection and disposal.
4. To facilitate conversion of expenditures to a cost basis.
May 1987
SURVEY OF CURRENT BUSINESS
26
Table 7.—Business and Government Expenditures for Air and Water Pollution Abatement in Current and Constant Dollars
1984 r
1983 r
1982
Total l
Water
Air
Total »
Water
Air
Total l
1985"
Water
Air
Total l
Water
Air
Millions of current dollars
Business (line 6) 2
On capital account (line 7)
Motor vehicle emission abatement 3
Plant and equipment
expenditures
Residential systems 4
Agricultural business 5
On current account (line 8)
Private (line 9)
Manufacturing establishments
Privately owned electric utility establishments
Other nonmanufacturing
establishments
Residential systems 4 5
Agricultural business
Government enterprise (line 10)
Publicly owned electric
utilities
Public sewer systems 6
Other
Government (line 12)
Federal (line 13)
Federal excl. highway erosion abatement.
Highway erosion abatement
State and local (line 14)
Highway erosion abatement
Government enterprise fixed capital (line 15)
Publicly owned electric
utilities
Public sewer systems 6
,
,
,
30,493
16,048
14,445
32,058
16,306
15,752
35,501
18,180
17,321
37,253
18,857
18,396
12,578
2,678
8,166
1732
3
17,914
12,596
2,468
5,230
2,003
2,464
426
6
5,318
158
5,159
2
7,765
2,678
5,086
4,814
7,468
3,313
4,155
5,005
5,653
5,896
2,904
192
1,998
486
6
6,082
20
6,059
2
15,024
4,987
7,420
2,615
2
22,230
15,573
2,635
6,597
2,146
3,677
513
6
6,657
173
6,481
3
9,128
4,987
4,141
2,727
175
1,735
441
7
5,663
18
5,642
2
14,462
4,526
7,405
2,529
2
21,039
14,811
2,534
6,324
2,094
3,366
486
6
6,228
167
6,059
2
8,809
4,526
4,282
2,398
165
1,459
426
6
5,177
17
5,159
2
12,473
3,313
7,055
2,103
2
19,585
13,780
2,547
5,848
2,039
2,898
441
7
5,805
161
5,642
2
7,348
595
6,754
7,232
562
6,670
8,397
545
7,852
9,356
448
8,908
325
316
8
277
(*)
276
6,747
599
6148
87
87
238
230
8
276
579
572
8
294
4
290
6,358
501
5,857
136
136
443
436
8
290
607
599
8
347
14
333
7,443
510
6,933
115
115
492
484
8
333
110
110
639
630
9
403
333
7,027
94
6,933
749
740
9
413
10
403
8,194
513
7,681
8,283
8,143
2,468
2,832
1,838
1,004
141
141
(*)
(*)
508
508
3,080
1,732
3
9,631
4,454
276
6,239
91
6,148
8,838"
8,696
2,547
3,121
1,865
1,163
143
143
4
4
422
422
2",906"
2,103
2
10,747
5,084
290
5,936
79
5,857
9,371
9,224
2,534
3,420
1,902
1,368
147
147
14
14
416
416
3,123
2,529
2
11,668
5,586
9,730
9,579
2,635
3,528
1,934
1,482
15l"
151
10
10
3,279
2,615
2
12,500
5,995
3,068
212
2,195
513
6
6,506
22
6,481
3
328
328
403
7,866
185
7,681
Millions of constant (1982) dollars
Business (line 28)
2
On capital account (line 29) ...
Motor vehicle emission abatement
Plant and equipment4 expenditures 3
Residential systems 5
Agricultural business
On current account (line 30)
,
Private (line 31)
Motor vehicle emission abatement
Manufacturing establishments
Privately owned electric utility establishments
Other nonmanufacturing
establishments
Residential systems 4 5
Agricultural business
Government enterprise (line 32)
Publicly owned electric utilities
Public sewer systems 6
Other
Government (line 34)
Federal (line 35)
Federal excl. highway erosion abatement
Highway erosion abatement
State and local (line 36)
State and local excl highway erosion abatement
Highway erosion abatement
Government enterprise fixed capital (line 37)
Publicly owned electric
utilities
Public sewer systems 6
r
....
...
30,493
16,048
14,445
31,308
16,081
15,228
33,515
17,446
16,069
34,428
17,722
16,707
...
.
...
...
12,578
2,678
8,166
1,732
3
17,914
12,596
2,468
5,230
2,003
2,464
426
6
5,318
158
5,159
2
7,765
2,678
5,086
4,814
7,334
3,231
4,104
4,793
5,171
5,259
2,741
176
1,879
428
6
5,669
18
5,649
2
13,768
4,579
6,871
2,316
2
20,660
14,557
2,737
6,082
1,911
3,391
430
6
6,103
154
5,946
3
8,509
4,579
3,929
2,637
167
1,705
425
6
5,494
18
5,475
2
13,574
4,288
7,015
2,269
2
19,941
14,137
2,649
5,967
1,929
3,159
428
6
5,804
153
5,649
2
8,403
4,288
4,115
2,398
165
1,459
426
6
5,177
17
5,159
2
12,127
3,231
6,915
1,980
2
19,181
13,550
2,619
5,694
1,964
2,842
425
6
5,632
155
5,475
2
7,348
595
6,754
6,870
555
6,315
7,728
520
7,208
8,145
420
7,724
325
316
8
277
(*)
276
6,747
599
6,148
87
87
238
230
8
276
559
552
7
268
4
265
6,043
492
5,551
135
135
424
417
7
265
568
561
7
291
13
277
6,869
482
6,387
111
111
457
450
7
277
662
656
7
294
9
285
7,188
478
6,711
102
102
561
554
7
285
..
,
,
,
...
,
....
,
8,283
8,143
2,468
2,832
1,838
1,004
141
141
(*)
(*)
508
508
Revised.
Preliminary.
* Less than $500,000.
1. Consists of air and water pollution abatement expenditures only.
2. Line numbers correspond to those in table 6.
3. Consists of manufacturing, private and cooperatively owned electric utilities, and other nonmanufacturing companies.
p
3,080
1,732
3
9,631
4,454
276
6,239
91
6,148
8,747"
8,609
2,619
3,057
1,796
1,137
137
137
4
4
416
416
2,811
1,980
2
10,435
4,941
265
5,626
75
5,551
9,044
8,908
2,649
3,227
1,753
1,280
135
135
13
13
396
396
2,900
2,269
2
10,898
5,229
277
6,474
86
6,387
9,213
9,079
2,737
3,255
1,724
1,363
135
135
9
9
310
310
2,941
2,316
2
11,447
5,479
2,827
187
2,028
430
6
5,968
19
5,946
3
285
6,879
168
6,711
4. Consists of private septic systems and sewer connections linking household plumbing to
street sewers.
5. Feedlot operations only, see footnote 1 to table 6.
6. Public sewer systems consists of treatment plants, collection sewers, interceptor sewers,
pumping stations, and dry waste disposal plants.
By ELLEN M. HERR
U.S. Business Enterprises Acquired or Established
by Foreign Direct Investors in 1986
OUTLAYS by foreign direct investors to acquire or establish U.S. business enterprises increased to a record
$31.5 billion (preliminary) in 1986, up
sharply from $23.1 billion in 1985 and
continuing the1 increase that began in
1984 (table I). U.S. tax reform legislation, passed by Congress on September 27, 1986 and signed by the President on October 22, 1986, contributed
to the surge of fourth-quarter investments; investors stepped up outlays to
take advantage of existing tax provisions before yearend. Also, corporate
restructuring in the United States,
continued U.S. real economic growth,
fears of U.S. protectionist measures,
and dollar depreciation contributed to
the 1986 increase in foreign direct investments.
NOTE.—James L. Bomkamp, Chief, Direct Investment in the United States Branch, International Investment Division, supervised the
survey from which these data are drawn.
Joseph F. Cherry III was project leader for editing and processing the forms. D. Richard
Mauery designed the computer programs for
data retrieval and analysis.
1. These data are from a BEA survey of new foreign
direct investment in the United States that covers (1)
existing U.S. business enterprises in which foreign investors acquired, directly or through their U.S. affiliates, at least a 10-percent ownership interest, and (2)
new U.S. business enterprises established by foreign
investors or their U.S. affiliates. Acquisitions of additional equity or voting interest in existing U.S. affiliates are not covered.
The data presented in the article are limited to acquired or established U.S. enterprises that had total
assets of over $1 million or that owned at least 200
acres of U.S. land. Although partial reports, primarily
for identification purposes, were required to be filed
for investments not meeting these criteria, the data
from them are not included in the accompanying
tables. For 1986, 463 partial reports were filed; total
assets of the U.S. business enterprises that filed partial reports were $75.2 million.
In addition to the data on new foreign direct investment presented here, BEA also publishes quarterly
balance of payments flows and the annual direct investment position for both new and existing investments. The position estimates first appear in the June
issue of the SURVEY OF CURRENT BUSINESS; more detailed estimates follow in the August issue. Estimates
covering the range of operations of U.S. affiliates of
foreign companies are available from BEA's annual
sample survey of foreign direct investment in the
United States; the latest estimates, covering 1985,
appear in a related article in this issue of the SURVEY.
Table 1.—Investment Outlays, Investments, and Investors, 1981-86
Number
Outlays (millions of dollars)
r
1986 »
764
315
449
753
390
363
659
338
321
831
434
397
817
320
497
714
316
398
1981
1982
1983
1984
1985 r
1986 '
1981
1982
1983
1984
Investments, total
Acquisitions
Establishments
23,219
18,151
5,067
10,817
6,563
4,254
8,091
4,848
3,244
15,197
11,836
3,361
23,106
20,083
3,023
31,472
25,467
6,005
1,332
462
870
1,108
395
713
775
299
476
Investors, total
Foreign direct investors
U.S. affiliates
23,219
6,158
17,060
10,817
3,954
6,863
8,091
2,528
5,564
15,197
4,181
11,016
23,106
4,225
18,881
31,472
6,309
25,164
1,521
979
542
1,218
720
498
850
460
390
r
p
1985
Revised.
Preliminary.
The substantially higher outlays in
Table 2.—Number of Investments by Size of
Outlays, 1981-86
1984-86 are marked by a sharp increase in the number of large invest1981 1982 1983 1984 1985 1986"
ments. Nearly all of the 1986 increase
was accounted for by a record number
1,332 1,108 775 764 753 659
Total
of investments of $1 billion or more $1 billion or more
3
5
0
0
2
0
million - $999
each (table 2). The number of invest- $100
11 31
46
33
18
34
million
million - $99
ments in 1986 was 659, compared to $10million
191 156 176 228 214
206
753 in 1985. Total assets of the U.S. Less than $10 million 1,089 898 608 557 490 394
companies acquired or established
Revised.
Preliminary.
were $52.0 billion, compared to $36.0
billion in 1985.
Because the data for 1986 will be lished) and total assets of the affilirevised to include late reports, the re- ates acquired or established, however,
vised data may not show a decline will not be as large because the late
from 1985 in the number of invest- reports are expected to cover primariments as large as indicated in these ly investments that were less than
preliminary data or may show an in- $10 million. For 1985, preliminary
crease. Revisions for investment out- data were revised up 48 percent for
lays (the cost to investors of the own- the number of investments, 18 perership interests acquired or estab- cent for outlays, and 30 percent for
total assets. Revised data for 1986 and
preliminary data for 1987 will be published
at this time next year.
Only summary data are published in
Total 1986 outlays were boosted
this article. A set of 21 supplementary
substantially by a surge in outlays in
tables containing additional detail for
1985 and 1986 on the number of investthe fourth quarter, as shown in the
ments and investors, investment outlays,
accompanying tabulation:
r
r
p
and selected operating data for the U.S.
business enterprises acquired or established is available for $5.00 from Economic and Statistical Analysis/BEA, U.S.
Department of Commerce, Citizens and
Southern National Bank, 222 Mitchell
St., P.O. Box 100606, Atlanta, Georgia
30384. When ordering, refer to the "BE13 Supplementary Tables for the May
1987 SURVEY article, Accession No. BEA
IID 87-103" and make check payable to
Economic and Statistical Analysis/BEA.
[Millions of dollars]
Total
I
II..
Ill
IV
1985
1986
23 106
31472
9 120
3917
5352
4717
4347
3464
7393
16 269
27
28
SURVEY OF CURRENT BUSINESS
The Tax Reform Act of 1986 was a
key factor in this fourth-quarter
surge. Buyers and sellers accelerated
investment transactions—i.e., shifted
outlays from 1987 into the fourth
quarter of 1986—in order to take advantage of certain tax provisions that
were changed effective January 1,
1987, by the Tax Reform Act. Under
the new law, capital gains income is
taxed at the same rate as ordinary
income rather than at 40 percent of
the ordinary income tax rate as under
the previous law. As a result, sellers
of assets had the incentive of earning
higher after-tax profits by completing
their transactions in 1986. Purchasers
had the incentive to complete transactions before the end of 1986 so that
acquired real assets would be subject
to the more advantageous 1986 depreciation rules. The law also repealed
certain rules applicable specifically to
merger and acquisition activity. The
most widely used of these was the
"General Utilities rule," which permitted the exchange of assets in acquisitions without any tax consequences. The new law repeals that
rule and requires that taxes be paid
on the appreciated value of the assets
exchanged.
Continued favorable economic conditions in the United States also contributed to the increase in 1986 outlays for new foreign investments.
Moderate inflation, low interest rates
relative to several other developed
May 1987
countries, growth in production, and
strong consumer demand all reinforced foreigners' incentive to invest
here.
As in 1984 and 1985, corporate restructuring was a key factor contributing to the increase in outlays for
new foreign investments. The willingness of U.S. companies to sell operations provided many candidates for
acquisition by foreign investors. The
restructuring occurred for several reasons. Takeover threats by foreign as
well as domestic investors led many
companies to restructure in order to
enhance shareholder values and
thwart the potential takeover. The recession of the early 1980's and increased competition from abroad also
Table 3.—Outlays by Type of Investment and Investor, by Industry of U.S. Business Enterprise, 1985-86
[Millions of dollars]
1985 r
By type of investment
1986 »
By type of investment
By type of investor
Foreign
direct
investors
U.S.
affiliates
Total
Acquisitions
By type of investor
Foreign
direct
investors
Total
Acquisitions
23,106
20,083
3,023
4,225
18,881
31,472
25,467
6,005
6,309
25,164
294
227
67
0
294
323
321
2
0
323
2,970
2,961
9
276
2,694
829
796
33
693
136
12,140
3,556
3,280
366
(D)
0
(D)
2,723
1,015
898
117
1,556
679
878
2,733
52
398
7
10
0
10
0
0
0
10
2
8
137
2
135
234
(D)
0
0
0
0
16
(D)
D0
1,935
58
199
(DD)
( )
0
0
(D)
76
20
56
426
(DD)
( )
1,176
(D)
0
568
(D)
4
56
(DD)
( )
39
10,206
3,497
3,081
(DD)
()
0
(D)
(D)
939
878
61
1,131
(DD)
()
1,558
(DD)
( )
103
(D)
187
487
38
(D)
32
13,712
888
6,491
4,245
933
(D)
13,019
882
6,486
4,245
932
(DD)
( )
1,051
584
(D)
(D)
1,855
110
1,745
3,213
(DD)
()
1,263
(DD)
( )
624
(D)
762
(D)
693
7
6
0
2
0
0
4
110
(D)
(D)
38
37
(*)
533
0
0
0
(DD)
( )
0
(D)
6
(D)
3,026
159
840
46
(DD)
(D)
(D)
( )
396
(D)
670
519
191
544
(D)
413
71
11,742
3,548
3,270
366
(D)
0
(D)
2,723
1,005
896
109
1,420
677
743
2,499
(DD)
()
670
519
191
527
52
413
(D)
10,685
730
5,652
4,199
(D)
(DD)
( )
(D)
298
(DD)
( )
1,243
90
1,153
2,762
0
(D)
1,263
115
(D)
623
804
(D)
7
163
(D)
580
677
1
1
138
2
535
127
(D)
6
25
(D)
44
230
°375
761
0
(DD)
( )
574
1
4
88
(DD)
( )
118
(D)
635
710
0
(D)
76
(D)
626
50
0
0
42
0
9
370
0
0
15
0
355
391
0
(D)
103
(D)
280
1,217
(DD)
( )
1,198
(D)
(D)
19
(DD)
( )
60
0
60
1,157
(D)
(D)
5,070
330
4,740
5,065
327
4,738
5
4
2
122
(DD)
( )
4,948
(D)
(D)
Banking
257
222
35
48
209
207
(D)
(D)
(D)
(D)
Finance, except banking
489
178
311
59
431
1,533
474
1,059
662
871
Insurance
908
891
17
756
152
1,523
(D)
>)
(D)
(D)
3,799
1,031
2,961
259
70
5
(DD)
( )
1
164
All industries
Mining
Petroleum..
Manufacturing
Food and kindred products
Chemicals and allied products
Industrial chemicals and synthetics
Drugs
Soap, cleaners, and toilet goods
Agricultural chemicals
Other
Primary and fabricated metals
Primary metal industries
Fabricated metal products
Machinery
Machinery, except electrical
Electric and electronic equipment
Other manufacturing
Textile products and apparel
Lumber, wood furniture, and fixtures
Paper and allied products
Printing and publishing
Rubber and plastics products
Stone clay and glass products
Transportation equipment
Instruments and related products
...
Other
Wholesale trade
Motor vehicles and equipment
Metals and minerals, except petroleum
Other durable goods
Farm product raw materials
Other nondurable goods
Retail trade
Food stores and eating & drinking places
Retail trade nee
.. .
(D)
,
Establishments
()
(D)
1,055
694
262
432
1,892
147
1,745
3,746
(DD)
( )
1,263
321
166
624
416
768
148
(D)
Real estate
1,921
191
1,730
493
1,428
3,993
194
Other industries
Agriculture
Forestry and fishing .1......
Construction
Transportation
Communication and public utilities
Services
2,105
43
21
17
(DD)
()
1,350
1,795
(D)
0
17
(DD)
( )
1,103
311
(D)
21
0
(D)
0
248
368
27
(DD)
(D)
( )
1
314
1,738
17
(DD)
(D)
(D )
()
1,036
3,523
71
5
3,264
2
0
(D)
(D)
(°)
(°)
r
Revised.
" Preliminary.
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.
D
32
3,287
31
3,123
Establishments
(D)
649
57
592
983
(D)
0
0
206
(D)
1
(DD)
()
91
305
66
5
7
1
2
224
U.S.
affiliates
(D)
(°)
57
3,218
5
1
(D)
(°)
30
3,063
contributed to the restructuring by inducing companies to streamline their
operations. The recession helped to
uncover inefficient lines of business
and induced companies to reduce
costs by consolidating operations and
selling unprofitable units. Increased
competition prompted a change in
some companies' production strategy;
many that previously sought to be as
integrated as possible in the manufacturing process—from producing the
raw materials to servicing the end
product—narrowed their focus.
Several other factors may have contributed to the 1986 increase. First,
the trade surpluses of several major
developed countries provided those
foreigners with the funds to invest in
the United States. Second, fears of
U.S. trade protectionism in the face of
these surpluses may have encouraged
foreign companies to produce in,
rather than export to, the United
States. Finally, dollar depreciation
may have had a net positive effect on
1986 foreign investment by inducing
firms to shift operations to the United
States so that their expenses as well
as their sales were denominated in
dollars. Dollar depreciation lowers
both the foreign currency cost of U.S.
assets and the foreign currency value
of income from investments in the
United States. When the dollar first
began to depreciate in 1985, some foreign businesses may have adjusted to
the dollar's fall by lowering profit
margins on exports to the United
States, rather than raising prices,
which could decrease their U.S.
market share. As the dollar fell further, however, these businesses may
have been induced to acquire U.S.
assets and produce within the United
States.
The next section of this article discusses investment transactions by industry and country; the last section
presents selected data on the operations of the U.S. businesses acquired
or established. Information from outside sources, mainly press reports, has
been used to supplement BEA's
survey data.
existing foreign-owned U.S. affiliates
and $6.3 billion were by foreign direct
investors themselves.
As noted earlier, outlays were again
dominated by large investments. The
46 investments of $100 million or
more accounted for 75 percent of total
outlays, but only 8 percent of the
number of investments. A record
number of new investments of $1 billion or more accounted for 34 percent
of total outlays, but only 1 percent of
the number of investments.
Industry
By industry of the U.S. business acquired or established, outlays in manufacturing, at $13.7 billion, were largest (table 4). Within manufacturing,
the largest investment outlays were
in chemicals, at $6.5 billion. Outlays
in chemicals increased substantially
in 1985 and 1986. Following the recession years of the early 1980's, a
number of U.S. chemical companies
have sought to restructure by selling
off unprofitable units or units unrelated to their main lines of business.
The restructuring coincided with the
strategies of several European chemical companies to increase their
market share in the United States,
obtain U.S. technological expertise,
and fill gaps in their global marketing system. Most of the outlays in
chemicals in 1985 and 1986 were accounted for by European investors.
A large share of total outlays in
chemicals was accounted for by the
acquisition of a Connecticut-based
manufacturer of chemical, cosmetic,
and health-care products by the U.S.
affiliate of a large Netherlands manufacturer of consumer products and
packaged goods. The foreign company's goal in the takeover was to gain
a foothold in the U.S. market and increase its world market share in the
Table 4.—Investment Outlays by Industry of U.S. Business Enterprise, 1981-86
[Millions of dollars]
As in the past, most outlays in 1986
were for the acquisition of existing
U.S. businesses rather than for the establishment of new ones. Foreign investors spent $25.5 billion to acquire
338 existing U.S. businesses and $6.0
billion to establish 321 new U.S. businesses (table 3). By type of investor,
$25.2 billion of total outlays were by
1982
1983
1984
1985 r
1986"
23,219
10817
8,091
15,197
23,106
31,472
Mining
1,861
342
37
844
294
323
Petroleum
1,822
819
394
3,263
2,970
829
Manufacturing....
Food and kindred products.
Chemicals and allied products.
Industrial chemicals and synthetics,
Drugs
Soap, cleaners, and toilet goods
Agricultural chemicals .
Other
Primary and fabricated metals
Primary metal industries.
Fabricated metal products.
Machinery
Machinery, except electrical
Electric and electronic equipment
Other manufacturing.
Textile products and apparel
Lumber, wood, furniture, and fixtures.
Paper and allied products
Printing and publishing
Rubber and plastics products,
Stone, clay, and glass products.
Transportation equipment .
Instruments and related products.
Other
8,074
318
2,957
2,572
86
(DD)
( )
212
2,499
2,319
180
715
411
303
1,585
32
(DD)
()
182
20
430
(D)
205
127
2,379
376
363
114
(DD)
()
1
26
104
82
22
979
803
177
557
23
(D)
173
63
18
148
(D)
59
21
3,113
691
653
325
0
(D)
(D)
170
177
(DD)
( )
470
98
373
1,121
49
(D)
50
460
125
296
(D)
27
54
3,106
340
378
27
12,140
3,556
3,280
366
(D)
0
(D)
2,723
1,015
898
117
1,556
679
878
2,733
52
(D)
670
519
191
544
(°)
413
71
13,712
888
6,491
4,245
933
(D)
(D)
1,055
694
262
432
1,892
147
1,745
3,746
(DD)
( )
1,263
321
166
624
416
768
148
Wholesale trade
Motor vehicles and equipment
Metals and minerals, except petroleum
Other durable goods...
Farm product raw materials.
Other nondurable goods.
438
21
100
186
(DD)
( )
462
64
3
205
32
158
198
45
(D)
65
4
(D)
840
69
(D)
86
(D)
609
804
761
0
(D)
118
D
( )
635
Retail trade
Food stores and eating & drinking places
Retail trade, nee
421
195
226
684
84
600
95
68
27
1,154
1,217
25
(DD)
()
1,053
427
173
910
257
207
766
499
457
802
489
1,533
1,523
AH industries
Banking
Investment Transactions
1981
Finance except banking
(D)
(D)
17
(D)
558
(DD)
( )
535
375
160
1,295
(DD)
(D)
()
354
200
192
(D)
92
16
1,130
(D)
7
163
(D)
580
5,070
330
4,740
348
759
121
152
908
Real estate
3737
3 289
2 659
2227
1,921
3,993
Other industries
Agriculture
Forestry and fishing
Construction ...
Transportation
Communication and public utilities
Services
.
4698
248
156
1 157
175
76
34
151
59
662
846
106
76
43
1 899
2 105
3,523
71
5
(DD)
()
32
3287
Insurance
r
p
D
Revised.
Preliminary.
Suppressed to avoid disclosure of data of individual companies
* Less than $500,000.
(D)
59
(D)
1418
(D)
(D)
585
68
43
51
134
597
1008
43
21
17
(DD)
( )
1350
30
SURVEY OF CURRENT BUSINESS
skincare products industry. It plans to
sell a significant part of the acquired
chemical operations.
In another transaction, the U.S. affiliate of a French industrial gas producer acquired a Houston-based industrial gas producer, making the
French-owned company one of the
largest U.S. companies in that industry. The Federal Trade Commission
had required both companies to divest
themselves of several plants and
other assets before it approved the acquisition on grounds that, without the
divestitures, the acquisition could
unduly reduce competition in the production and sale of certain industrial
gas products.
The prescription drug unit of a
large U.S. chemical company was acquired by a British pharmaceutical
concern to boost its direct sales in the
U.S. prescription drug market. The
U.S. company sold this unit and
others in order to concentrate on its
hospital supply business.
Outlays were also large in machinery, at $1.9 billion, and in "other
manufacturing/' at $3.7 billion. The
largest outlay in machinery involved
the acquisition of a manufacturer of
household appliances by the New
York-based subsidiary of a large
Swedish appliance manufacturer. The
acquisition gave the Swedish company
the opportunity to produce and
market a full line of appliances in the
U.S. market.
In "other manufacturing," outlays
mostly reflected two large acquisitions, one in paper products and the
other in scientific instruments. The
paperboard packaging unit of a large
U.S. oil company was acquired by a
holding company jointly owned by a
large Netherlands paper company
and a U.S. limited partnership fund.
The acquisition was made in anticipation of expected growth in the paperboard industry. The U.S. oil company
that sold the unit planned to use the
sale proceeds to reduce the heavy
debt it incurred through an earlier acquisition of another oil company. In
scientific instruments, a U.S. producer of temperature controls and industrial equipment was acquired by a
British company that manufactures
similar products. The acquisition complements and strengthens the foreign
company's operations here and
abroad.
Outlays in retail trade were $5.1
billion, up from $1.2 billion in 1985.
In the single largest investment in
1986, the U.S. affiliate of a Canadian
real estate development concern acquired a department and specialty
store chain. The U.S. company was an
attractive takeover target because of
its extensive network of profitable
retail businesses and real estate holdings. After an initial rejection of its
tender offer by the U.S. company, the
Canadian company purchased shares
of the U.S. company on the open
market in an attempt to obtain majority ownership. Ultimately, the U.S.
company agreed to a merger for a
share price greater than that in the
original tender offer.
May 1987
In real estate, outlays were $4.0 billion, up from $1.9 billion in 1985. Outlays in 1986 were mainly accounted
for by Japanese investors. Details are
given in the next section of this article.
Outlays in "other industries," at
$3.5 billion, were largely in services.
One-third of the outlays in services
were accounted for by British acquisitions of advertising firms. The world's
largest advertising agency, in terms
of annual billings, was formed fay the
acquisition of several large U.S. advertising firms by a London-based advertising firm. The combination re-
Table 5.—Investment Outlays by Country of Ultimate Beneficial Owner, 1981-86
[Millions of dollars]
AH countries
Canada
Europe
European Communities (10)
Belgium
Denmark .
France
Germany
Greece
Ireland
Italy
Luxembourg
Netherlands
United Kingdom
Other Europe
Austria
Finland
Liechtenstein
Norway
Spain
Sweden
Switzerland
Other
.
Japan
.
,
,
,
Australia, New Zealand, and South Africa
Latin America
South and Central America
Brazil
Mexico
Panama
Venezuela
Other
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
United Kingdom Islands, Caribbean .
Other
Middle East
Israel
Other
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
Other Africa, Asia, and Pacific
Other Africa
Other Asia and Pacific
Hong Kong
Philippines
South Korea
Other
United States
Addenda:1
OPEC
European Communities (12)2
,
1984
1985 r
1986"
8,091
15,197
23,106
31,472
1,072
2,587
2,914
5,175
6,418
4984
153
21
455
601
33
17
213
33
330
3,128
1,434
30
(D)
20
3
46
113
1,164
(D)
4,908
4,249
(DD)
( )
295
584
(D)
6,463
5,786
249
6
330
685
17,086
15,521
355
(D)
1,745
1,236
0
1,298
(DD)
( )
4,268
6,527
1,565
(D)
25
(D)
7
16
1,131
321
(D)
1983
1981
1982
23,219
10,817
6,084
1,196
10,589
9,595
35
(D)
903
1 149
18
25
(D)
140
572
6,178
994
(DD)
( )
139
(D)
27
232
329
11
(D)
(D)
(D)
5
492
2,366
659
(DD)
( )
4
(*)
18
70
410
0
45
3
562
3,714
676
35
35
(D)
45
(D)
119
425
(*)
15,382
10,794
108
(D)
754
2,270
0
1
(D)
5
771
6,732
4,588
90
156
1
5
0
451
3,883
1
(D)
616
587
392
1,806
1,152
4,724
1,386
157
145
1,464
1,668
2,367
765
247
25
(D)
43
98
32
(D)
518
27
43
421
22
5
965
430
0
23
127
181
52
48
535
4
45
371
110
3
437
291
52
0
107
(D)
27
(D)
147
(D)
589
88
0
0
29
45
D
(D)
( )
501
7
418
570
379
1
2
68
6
D
(D)
( )
190
4
105
(DD)
( )
0
3415
7
3407
864
1
863
392
186
71
160
53
715
6
710
391
3
137
164
14
919
621
4
617
363
20
408
89
319
164
(D)
136
(D)
114
(D)
(D)
39
30
D
((D)
)
196
(*)
(D)
61
(D)
21
50
(D)
9
47
(D)
36
0
(D)
(D)
0
522
0
522
(D)
(*)
100
5
149
986
3
983
359
11
456
63
93
376
20
356
270
1
14
71
1,029
346
684
533
(D)
(D)
506
2
173
(D)
(D)
(D)
(D)
(D)
(»)
258
7
251
80
1
7
164
3
9
14
(D)
40
0
3302
775
723
855
910
789
15541
360
20
341
173
(D)
o
(D)
33
o
130
20
rp Revised.
Preliminary.
D Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.
1. OPEC is the Organization of Petroleum Exporting Countries. Its members are Algeria, Ecuador, Gabon, Indonesia, Iran,
Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, Venezuela, and the United Arab Emirates.
2. European Communities (12) comprises European Communities (10), Portugal, and Spain.
NOTE.—Where more than one investor participated in a given investment, each investor and each investor's outlays are
classified by the country of each individual ultimate beneficial owner.
Most of the outlays in real estate by
fleets the recent trend among adver- for $17.1 billion, or 54 percent, of
tising agencies to form international total outlays. Outlays were 12 percent Japanese investors in 1986 were for
alliances in the face of increasing higher than in 1985, mainly because office buildings in New York and
competition for multinational ac- of sizable outlays attributable to California. A privately held real
counts. In another transaction, the UBO's in the Netherlands. A large estate developer, which already held
parent company of a British advertis- share of the Netherlands outlays was numerous U.S.-based properties, puring firm acquired two New York- accounted for by the previously men- chased four large office buildings in
based advertising firms, one of which tioned acquisition of a Connecticut- New York, Boston, and Los Angeles
will operate in New York, Los Ange- based manufacturer of chemical prod- in 1986. The purchases were part of a
les, and Atlanta and the other in ucts by the U.S. affiliate of a Nether- long-term strategy to diversify. In anlands manufacturer of consumer prod- other transaction, a jointly owned
Boston, Pittsburgh, and Chicago.
The largest single outlay in services ucts. Several other sizable acquisi- Manhattan office building was acwas for the acquisition of a U.S. tele- tions by Netherlands UBO's may quired by a subsidiary of a Tokyovision network, which included sever- partly reflect the substantial appre- based real estate development conal television stations and a film ciation of the guilder against the cern. One of the owners, an oil company, wanted to sell its interest as
studio, acquired by a U.S. affiliate of dollar in 1986.
British UBO's accounted for $6.5 part of the restructuring of its worldan Australian concern. The acquisition followed several others in earlier billion of outlays, the largest total for wide operations in response to the
years by the Australian company, any single country. Almost one-half of 1985-86 decline in crude oil prices.
which began in publishing but ex- these outlays were in manufacturing
(tables 6A and 6B). The largest inpanded to several other media.
Selected Operating Data
Outlays in petroleum were $0.8 bil- crease from 1985, however, occurred
Total assets of the U.S. businesses
lion, down substantially from 1984 in services and was mostly for the acand 1985. The largest acquisition in quisition of the U.S. advertising com- acquired or established in 1986 were
$52.0 billion, up from $36.1 billion in
petroleum was of a 50-percent inter- panies mentioned earlier.
Outside Europe, outlays for 1986, as 1985 (tables 7A and 7B). Increases
est in the refining unit of a U.S. petroleum company by a state-owned well as the increase in outlays from were largest in retail trade, finance,
were concentrated among and petroleum.
crude oil producer in Venezuela. The 1985,
U.S. businesses acquired in 1986
Venezuelan firm's strategy in the ac- UBO's in Canada, Japan, and Austraquisition was to gain access to U.S. lia. For both Canada and Australia, a had assets of $41.2 billion. The assets
customers. The transaction gave the single UBO accounted for most of the were concentrated in petroleum,
Venezuelan company an integrated outlays. For Japan, a number of chemicals, finance, and retail trade.
oil company—combining Venezuelan UBO's had large outlays. Japanese Single acquisitions accounted for a
oil reserves with U.S. refining capa- real estate investments surged, ac- majority of the total assets in each incounting for 56 percent of the outlays dustry. In chemicals and retail trade,
bilities.
In finance and insurance, outlays by Japanese UBO's. A number of fac- the acquisitions were the same as
were $1.5 billion each and were sub- tors contributed to the surge. The those, mentioned earlier, that acstantially higher than in recent years. sharp appreciation of the yen against counted for a majority of outlays in
In finance, a large Japanese bank es- the dollar lowered the purchase price these industries; they were, respectablished a New York-based finance to Japanese investors. The prospect of tively, the acquisition of a Connectiand leasing company. In insurance, a stabilized exchange rates late in 1986, cut-based chemical producer by the
large British insurance company ac- as well as the U.S. tax law changes U.S. affiliate of a Netherlands compaquired a Michigan-based life insur- mentioned earlier, gave impetus to ny and the acquisition of a departance company through its U.S. subsid- the large number of acquisitions ment and specialty store chain by the
iary. The British firm was attracted made in November and December. Fi- U.S. affiliate of a Canadian company.
Acquired businesses had 320,000
by the U.S. firm's history of develop- nally, the substantial increase in Japing profitable products and its ad- anese real estate prices in 1986 wid- employees; almost one-half of the emened the gap between after-tax yields ployees were in retail trade. In retail
vanced computer technology.
In mining, outlays were $0.3 billion, on U.S. and on Japanese real estate trade, the previously mentioned U.S.
and in wholesale trade, $0.8 billion. In investments. The gap results from dif- department store chain acquired by
both industries, outlays changed only ferences in the cost structures of in- the U.S. affiliate of a Canadian comvestment in combination with differ- pany was the largest employer. Acslightly from 1985.
ences in tax laws and land availabil- quired businesses owned 1,098,345
ity in the two countries. In Japan, acres of U.S. land, of which 75 perCountry
most of the purchase price of real cent were owned by the manufacturer
Outlays are classified by country of estate is represented by the land as of paperboard containers, also menultimate beneficial owner (UBO) in opposed to the building. The opposite tioned earlier, that was acquired by
table 5.2 European UBO's accounted is true in the United States, where the U.S. affiliate of a Netherlands
land is much more abundant. Because company.
2. Investment outlays can be classified by country of
U.S. businesses established in 1986
land is not depreciable for tax purforeign parent, as well as by country of UBO. The forposes in either country, an invest- had assets of $10.7 billion, employed
eign parent is the first foreign person in the ownership chain of the acquired or established U.S. busiment in the United States yields a 11,047 workers, and owned 132,487
ness; the UBO is the person in the ownership chain,
larger depreciation expense than one acres of land. Nearly one-half of the
beginning with the foreign parent, that is not owned
more than 50 percent by another person. The country
in Japan. Also, depreciation schedules acres were owned by businesses in
of UBO may be the same as that of the foreign parent,
in the United States, although length- real estate; most of the remainder
a different foreign country, or the United States. The
ened, are still more favorable to in- were owned by businesses in agriculdata classified by country of foreign parent are available in a set of supplementary tables (see box).
ture.
vestors than those in Japan.
32
SURVEY OF CURRENT BUSINESS
May 1987
Table 6A.—Investment Outlays, Country of Ultimate Beneficial Owner by Industry of U.S. Business Enterprise, 1985
[Millions of dollars]
All
industries
AH countries
Mining
23,106
Petrole-
Manufacturing
2,970
12,140
Canada
2,914
296
1,238
Europe
European Communities (10)
Belgium
Denmark
France
Germany
Greece
Ireland
Italy
Luxembourg
Netherlands
United Kingdom
Other Europe
Austria
Finland
Liechtenstein
Norway
Spain
Sweden
Switzerland
Other
15,382
10,794
108
(D)
754
2,270
0
1
(D)
5
771
6,732
4,588
90
156
1
5
0
451
3,883
1
1,140
1,140
0
0
9,496
5,201
(D)
5
229
1,766
0
0
(D)
0
189
2,962
4,295
Japan
1,152
0
Australia, New Zealand, and South Africa
1,668
0
Latin America
South and Central America
Argentina
Brazil
Mexico
Panama
Venezuela
Other
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
United Kingdom Islands, Caribbean
Other
589
88
0
0
29
45
(DD)
()
501
7
418
(DD)
()
0
Middle East
Israel
Other
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
986
3
983
359
11
456
63
93
Other Africa, Asia, and Pacific
Other Africa
Other Asia and Pacific
Hong Kong
Philippines
South Korea
Other
376
20
356
270
1
14
71
United States
Addendum—OPEC l
D
0
0
(D)
5
0
0
0
0
0
147
0
0
0
0
0
0
0
0
0
0
0
0
400
3,651
1
Retail
trade
1,217
Banking
257
D
( )
1,148
0
0
0
D0
()
Finance,
except
banking
489
618
(D)
0
0
0
0
0
0
Real
estate
Other
908
1,921
2,105
901
889
0
0
0
0
0
0
0
0
990
901
443
6
(D)
0
2
0
0
0
0
1
0
0
Insurance
362
0
(*)
5
(D)
0
0
0
0
D0
()
0
0
0
0
0
0
0
0
0
11
0
0
0
0
0
0
11
0
82
0
0
0
5
212
492
89
0
0
1
0
0
379
(*)
0
16
0
1
1
(*).
311
64
0
0
0
0
0
0
236
722
55
1
0
0
1
0
0
0
0
0
24
45
(D0)
17
5
9
0
2
0
(D)
0
(D0)
172
1
171
49
11
73
2
71
(D)
0
0
0
4
0
0
4
0
0
0
51
0
0
35
50
40
0
0
0
910
127
142
35
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.
1. See footnote 1, table 5.
NOTE.—Data for 1985 are revised. Where more than one investor participated in a given investment, each investor and each investor's outlays are classified by the country of each individual
ultimate beneficial owner.
(D)
0
0
0
0
0
Wholesale
trades
SURVEY OF CURRENT BUSINESS
May 1987
33
Table 6B.—Investment Outlays, Country of Ultimate Beneficial Owner by Industry of U.S. Business Enterprise, 1986
[Millions of dollars]
All
industries
All countries
Mining
Petroleum
Manufacturing
Wholesale
trades
Retail
trade
Banking
Finance,
except
banking
31,472
13,712
5,070
207
1,533
Canada
5,175
770
(D)
0
(*)
Europe....
European Communities (12)
Belgium
Denmark....
France
Germany
Greece
Ireland
Italy
Luxembourg.
Netherlands
Portugal
Spain
United Kingdom
Other Europe
Austria
Finland
Liechtenstein
Norway
Sweden
Switzerland
Other
17,086
15,541
355
(D)
1,745
1,236
0
1,298
(D)
(D)
4,268
4
16
6,527
1,545
(D)
25
(D)
7
1,131
321
D
()
1,228
1,228
0
0
4
30
233
232
0
0
0
11,107
9,782
155
0
1,655
97
97
0
0
0
1
0
0
0
0
0
0
0
96
(D)
0
1,298
(D)
0
(D)
0
0
3,024
1,325
0
0
0
0
0
0
0
0
0
0
1,059
236
0
Japan
4,724
990
Australia, New Zealand, and South Africa
2,367
212
Latin America
South and Central America
Argentina
Brazil..
Mexico
Panama
Venezuela
Other
Other Western Hemisphere
Bahamas
Bermuda...
Netherlands Antilles
United Kingdom Islands, Caribbean.
Other
570
379
1
2
68
6
D
()
(D)
190
4
105
(DD)
( )
0
81
0
0
0
0
0
0
Middle East
Israel
Other
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
522
0
522
(D)
(*)
100
5
(D)
0
0
0
0
0
0
0
0
392
0
392
D
()
0
0
0
1,029
346
684
533
0
130
20
330
330
0
0
0
0
0
160
0
160
32
0
127
0
i
Other Africa, Asia, and Pacific
Other Africa
Other Asia and Pacific
Hong Kong
Philippines
South Korea
Other
United States
Addendum—OPEC 1
D
-...
0
3
0
(D)
0
4
(*)
(D)
0
0
0
D0
()
0
0
0
0
(D)
421
0
0
0
(D)
0
0
0
D0
0
0
0
0
0
0
0
0
()
0
0
54
0
0
0
0
0
0
0
0
0
4
0
0
0
0
0
0
0
0
Real
estate
Other
1,523
3,993
3,523
159
1,398
1,398
0
0
0
0
0
0
0
0
(D)
0
D0
()
0
0
0
0
0
0
0
0
(D)
942
870
(D)
0
40
(D)
0
0
1
0
249
0
5
407
71
0
0
2
1,260
1,198
2
(D)
46
(D)
0
0
64
0
20
0
2,655
89
103
0
(D)
1,002
62
1
0
0
(D)
2
53
5
0
0
(*)
0
0
5
0
0
0
0
0
0
37
1
0
32
4
0
1
27
4
0
0
78
0
78
18
(*)
0
(*)
16
0
0
789
72
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.
1. See footnote 1, table 5.
NOTE.—Data for 1986 are preliminary. Where more than one investor participated in a given
investment, each investor and each investor's outlays are classified by the country of each individual ultimate beneficial owner.
0
0
662
Insurance
0
2
2
0
(*)
34
SURVEY OF CURRENT BUSINESS
May 1987
Table 7A.—Total Assets, Sales, Net Income, Employment, and Acres of Land Owned by U.S. Business Enterprises Acquired or Established, by
Industry of U.S. Business Enterprise, 1985
[Millions of dollars or number]
Total
all U.S.
business
enterprises
acquired or
established
All industries
Mining
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Industrial chemicals and synthetics
Drugs
Soap, cleaners, and toilet goods
Agricultural chemicals .....
Other...
Primary and fabricated metals
Primary metal industries
Fabricated metal products
Machinery
Machinery, except electrical
Electric and electronic equipment
Other manufacturing
Textile products and apparel
Lumber, wood, furniture, and fixtures
Paper and allied products
Printing and publishing....
Rubber and plastics products
Stone, clay and glass products
Transportation equipment
Instruments and related products
Other
Wholesale trade
Motor vehicles and equipment
Metals and minerals, except petroleum
Other durable goods
Farm product raw materials
Other nondurable goods
36,066
448
U.S. business enterprises established
U.S. business enterprises acquired
Total
assets
29,478
Sales *
Net
income
30,561
210
Number
of
employees
Number of
acres of
land owned
264,467
2,205,818
D
303
-39
2,003
357,332
D
160
6,060
37,638
1,759,787
6,009
8,655
1,874
(D)
0
(D)
6,354
13,681
13,257
424
1,959
912
1,047
1,729,483
0
0
1,700,108
(D)
224
28,130
(D)
189
(D)
( )
3,747
( )
4,009
16,020
2,939
3,391
356
(D)
0
(D)
2,713
1,703
1,513
189
2,298
894
1,405
5,690
(DD)
()
2,658
599
232
1,013
509
482
88
14,759
19,463
4,726
4,207
527
(D)
0
(D)
3,436
2,153
1,808
344
2,183
1,117
1,066
6,194
(DD)
()
3,287
498
336
1,158
193
508
104
117
153,096
(D)
180
28
8
0
1
143
25,732
(D)
(D)
5
17,026
13,417
3,609
37
1
36
23,781
10,646
13,135
133
3
2
91
35
1
10
1
9
1
54,597
(D)
(D)
21,458
6,819
4,072
10,121
3,281
6,054
1,337
769
(D)
50
226
(D)
401
534
1,122
0
5
368
(*)
749
(*)
4,238
0
(*)
-25
(*)
25
0
(D)
1,804
D
( )
2,370
2,917
(D)
356
(D)
0
(D)
2,713
(D)
(D)
164
1,612
(D)
(D)
5,209
(D)
(D)
2,658
599
232
(D)
87
482
(D)
1
(D)
194
D
( )
330
31,960
2,945
(D)
0
(D)
27,026
Total
assets
Sales
Net
income
1,570
-57
Number
of
employees
Number
of acres of
land
owned
11,026
143,163
D
( )
D
( )
D
( )
(D)
(D)
D
(D)
(D)
(D)
(D)
1,261
595
4,888
254
(D)
0
(D)
0
0
0
2,766
6,587
( )
22
4
-42
_2
(D)
0
(D)
0
0
0
(D)
0
(D)
0
0
0
(*)
0
(*)
0
0
0
(DD)
(D)
()
(D)
(D)
0
(D)
0
0
0
(DD)
(25)
(D0)
'(D)
687
(DD)
( )
481
28
0
0
0
D0
38
1
39
2
(*)
0
0
0
0
3
(*)
0
3,157
(D)
(D)
710
(D)
0
0
0
D0
421
0
(D)
461
(DD)
( )
69
5
0
0
0
0
D
( )
2
0
D
( )
(D)
(D)
0
114
0
(D)
234
(D)
(D)
32
(D)
71
417
2
(D)
58
D
( )
185
-29
(*)
(D)
-15
1,794
(D)
31
236
(D)
717
604
(DD)
()
20
(DD)
()
(D)
(DD)
()
(*)
(D)
(*)
(*)
(D)
(D)
((D))
(D)
(DD)
()
(D)
()
1
0
1
1
(D)
(D)
( 0)
(D)
(D)
0
(D)
(D)
(DD)
()
1,266
(D)
0
0
0
D0
()
(D0)
(D)
1,394
0
D0
Retail trade
Food stores and eating & drinking places
Retail trade, nee
1,132
(DD)
( )
1,112
1,903
(D)
(D)
30
40,197
(DD)
()
(DD)
( )
(D)
(D)
Banking
3,559
2,166
214
15
(D)
25
1,393
92
-9
251
0
Finance, except banking
3,807
2,885
350
15
1,743
(D)
922
38
6
(D)
0
896
863
439
3
5,204
8
33
2
(*)
(D)
0
Real estate
2,426
290
27
7
(D)
131
2,136
202
19
89
22,019
Other industries ...
Agriculture
Forestry and fishing
Construction
Transportation .
Communication and public utilities
Services
...
3,262
56
(D)
29
(D)
(D)
2,459
2,873
(D)
0
29
(
?
2,140
2,731
(D)
0
35
503
(D)
2,134
79
1
0
2
D
(D)
()
-66
49,209
(D)
0
108
(DD)
()
42,817
(D)
(D)
0
(DD)
(D)
()
1,024
389
(D)
(D)
0
(D)
0
320
117
10
0
0
4
0
103
-2
2,694
(D)
0
0
(D)
0
2,452
113,033
60,507
52,429
0
0
0
97
Insurance
D
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000 (±).
1. Sales, or gross operating revenue, excluding sales taxes.
NOTE.—Data for 1985 are revised. For acquired businesses, data are for, or as of the end of, the
fiscal year preceding the year of acquisition; for newly established businesses, data are projections for, or as of the end of, the first full year of operation.
(*)
0
0
0
0
2
35
SURVEY OF CURRENT BUSINESS
May 1987
Table 7B.—Total Assets, Sales, Net Income, Employment, and Acres of Land Owned by U.S. Business Enterprises Acquired or Established, by
Industry of U.S. Business Enterprise, 1986
[Millions of dollars or number]
Total
assets of
all U.S.
business
enterprises
acquired or
established
All industries
Mining
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Industrial chemicals and synthetics
Drugs
Soap, cleaners, and toilet goods
Agricultural chemicals ...
Other
Primary and fabricated metals
Primary metal industries
Fabricated metal products
Machinery
Machinery, except electrical
Electric and electronic equipment
Other manufacturing
Textile products and apparel
Lumber, wood, furniture, and fixtures
Paper and allied products
Printing and publishing
Rubber and plastics products.
Stone, clay, and glass products
Transportation equipment
Instruments and related products
Other. .
.. ..... . .
61
17,167
1,695
4,544
3,078
172
59
208
1,026
1,195
705
490
3,738
295
3,443
5,994
(D)
(D)
1,563
459
214
2,743
(D)
661
209
448
54
164
60
26
3
16
59
10
-4
15
36
-3
38
183
1
4
29
8
8
103
2
26
1
144,551
7,294
30,009
23,603
1,423
1,986
1,084
1,913
10,074
3,336
6,738
39,569
2,194
37,375
57,605
(DD)
()
12,341
4,954
1,892
22,297
(D)
11,085
2,329
1,013,766
2,019
17,113
14,920
104
40
1,480
569
1,245
(DD)
( )
1,001
255
746
992,388
(°)
1,204
16
5
0
2
0
0
3
256
D
( )
(D)
61
59
2
867
0
0
7,411
0
(D)
1,021
D
()
6,074
766
108,828
19,539
89,289
15,138
963
6,061
4,381
574
106
128
873
114
800
186
(D)
1,917
40
0
-1
3
(*)
39
Retail trade
Food stores and eating & drinking places
Retail trade, nee
4,305
382
3,923
4,285
(DD)
()
7,115
1,284
5,831
200
15
185
DO
Banking
2,503
()
( )
2
Finance, except banking.
6,941
5,303
65,388
14
3,363
(D)
(D)
66
D
D
D
()
5,687
829,901
95
210
161,215
(°)
D°
61
0
(
?
(D)
Net
income
Sales
1,335
(*)
0
(*)
0
0
0
180
D
( )
(D)
(
?
0
1,078
0
0
0
(DD)
( )
0
0
0
0
0
0
313
818
(*)
(*)
0
2
-2
(D)
73
(DD)
()
71
0
0
66
0
5
158
0
0
156
0
2
-5
0
0
-1
0
4
1,899
(DD)
()
20
(DD)
()
3
0
3
(*)
0
(*)
(°)
118
DO
D
D
(
D
)
0
0
0
0
0
0
(D)
(D)
(°)
(D)
0
(D)
0
DO
0
0
0
o
()
()
31
2
161
(D)
1,638
(D)
34
(D)
564
(D)
1
(*)
6
(D)
4,949
402
93
3
446
5,370
4,546
417
111
251
63,112
5,173
75
8
324
91
62
4,613
3,413
1
0
295
D
(D)
()
3,006
2,430
(*)
0
957
48
-61
(*)
0
3
2
1
68
38,479
0
0
6,07D8
1,075
(D)
0
1,761
74
8
28
203
3
(*)
(*)
D
()
0
(D)
9
2,882
146
66,579
42,012
(°)
(D)
0
228
D
( )
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000 (±).
1. Sales, or gross operating revenue, excluding sales taxes.
NOTE.—Data for 1986 are preliminary. For acquired businesses, data are for, or as of the end of,
the fiscal year preceding the year of acquisition; for newly established businesses, data are projections for, or as of the end of, the first full year of operation.
243
0
0
18,748
2,166
Other industries
Agriculture
Forestry and fishing
Construction
Transportation
Communication and public utilities
Services
0
9,227
944
0
.. .
226
0
153
1,015
0
(D)
180
D
( )
806
Insurance
4,804
0
0
0
109
109
0
2,368
0
0
0
8,798
Wholesale trade
Motor vehicles and equipment
Metals and minerals, except petroleum .. ....
Other durable goods.
Farm product raw materials
Other nondurable goods...
..
Real estate
2,675
-2
16,343
979
6,065
4,381
575
106
128
876
925
465
460
2,495
233
2,262
5,879
(D)
D
6,450
150
1
6,605
119
2,142
( }
D
(D)
17
1
(*)
0
(*)
0
0
0
7
7
(*)
(*)
(*)
0
9
0
0
0
2,459
2
6,666
( )
0
10,743
56,122
516
D1
26
1,098,345
4,078
104,890
727
1>52
3
319,873
31
41,245
729
1,521
399
181
2,142
689
664
211
132,487
898
51,988
D
11,047
Total
assets
Net
income
( )
2,434
174
2,260
5,012
Number
of acres of
land
owned
Number of
acres of
land owned
Sales *
66 9
D
D
Number
of
employees
Number
of
employees
Total
assets
(D)
U.S. business enterprises established
U.S. business enterprises acquired
(D)
31,595
27
D5
(D)
142
1,607
1
(*)
0
4
0
-14
2,489
By NED G. HOWENSTINE
U.S. Affiliates of Foreign Companies: Operations in 1985
THIS
• Net income of U.S. affiliates was
article presents estimates of
This article is dedicated to the memory
$5 billion, down $4 billion from 1984.
the operations of nonbank U.S. affiliof William K. Chung, formerly a senior
By industry of affiliate, the largest
economist with the International Investates of foreign companies in 1985. The
ment Division. Mr. Chung made signifiestimates were obtained by expanding
drop ($3 billion) was in manufacturcant contributions to the analysis of
to universe totals sample data collecting . By country of UBO, affiliates
international direct investment and was
ed in BEA's annual survey of foreign
with UBO's in Canada had the largest
a frequent contributor to the SURVEY.
direct investment in the United
drop ($2 billion).
States.1
• Sales by U.S. affiliates were $630
• Employment of U.S. affiliates was
billion, up $37 billion from 1984. By 2,854,000, up 139,000 from 1984. EmHighlights for 1985 include:
• Total assets of U.S. affiliates were industry of affiliate, the largest in- ployee compensation was $80 billion,
$736 billion, up $134 billion from creases were in wholesale trade ($11 up $7 billion.
1984. By industry of affiliate, almost billion) and manufacturing ($9 bil• U.S. affiliates owned 15 million
$80 billion of the increase was in "fi- lion). By country of UBO, the largest
nance, except banking." By country of increase was for affiliates with Japa- acres of U.S. land, an increase of 1
million acres from 1984. The gross
ultimate beneficial owner (UBO), the nese UBO's ($15 billion).
largest increase ($52 billion) was atThis article presents estimates of selected items from BEA's 1984 and 1985 annual surveys
tributable
to affiliates with UBO's in
2
of foreign direct investment in the United States. Sets of tables giving additional informaEurope.
tion—including estimates of U.S. affiliate's balance sheets and income statements; external
NOTE.—The annual survey from which the
estimates in this article were derived 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 forms. Richard
Mauery and Arnold Gilbert designed the computer programs for data retrieval and analysis.
1. A U.S. affiliate is a U.S. business enterprise in
which a single foreign person owns or controls, directly or indirectly, 10 percent or more of the voting securities if an incorporated business enterprise or an
equivalent interest if an unincorporated business enterprise. Estimates presented in this article cover nonbank U.S. affiliates; data for bank affiliates are published by the Federal Reserve Board in the Federal
Reserve Bulletin.
The estimates in this article are on a fiscal year
basis. An individual affiliate's 1985 fiscal year is its financial reporting year that ended in calendar year
1985.
In terms of employment, data reported by the
sample accounted for 89 percent of the universe estimate for 1985. A table presenting sample coverage for
earlier years by industry of affiliate and country of ultimate beneficial owner appeared in "U.S. Affiliates of
Foreign Companies: Operations in 1984," SURVEY 66
(October 1986):32. In that table, the values for 1983
are typical of the sample coverage of the revised estimates for a given year. The values for 1984, which are
typical of the sample coverage of the preliminary estimates for a given year, are, in most instances, slightly
lower.
2. The UBO is that person, proceeding up a U.S. affiliate's ownership chain, beginning w,ith and including the foreign parent, that is not owned more than 50
percent by another person. The foreign parent is the
first foreign person in the affiliate's ownership chain.
Unlike the foreign parent, the UBO of an affiliate
may be located in the United States.
36
financial position; property, plant, and equipment; employment and employee compensation;
U.S. merchandise trade; research and development expenditures; and U.S. land owned and
leased—will be available in June for each year separately in Foreign Direct Investment in
the United States: Operations of U,S. Affiliates of Foreign Companies, Revised 1984 Estimates and Foreign Direct Investment in the United States: Operations of U.S. Affiliates of
Foreign Companies, Preliminary 1985 Estimates. The estimates are disaggregated by industry of affiliate, country and industry of ultimate beneficial owner, and for selected items, by
State.
Comparable estimates are also available for 1977-83. For 1977-80, see Foreign Direct Investment in the United States: Operations of U.S. Affiliates, 1977-80; for 1981, see Foreign
Direct Investment in the United States: Annual Survey Results, Revised 1981 Estimates; for
1982, see Foreign Direct Investment in the United States: Operations of U.S. Affiliates of Foreign Companies, Revised 1982 Estimates] and for 1983, see Foreign Direct Investment in the
United States: Operations of U.S. Affiliates of Foreign Companies, Revised 1983 Estimates.
The publication containing the 1977-80 estimates may be obtained from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402; price $7.00;
stock number 003-010-00156-9.
The publications containing the 1981 through 1985 estimates may be obtained from Economic and Statistical Analysis/BEA, U.S. Department of Commerce, Citizens and Southern
National Bank, 222 Mitchell Street, P.O. Box 100606, Atlanta, GA 30384; price $5.00 for the
publication for each year. Estimates for all years, 1977-85, are also available on computer
diskette, at $40.00 (two diskettes) for each year, at the same address. When ordering, specify
title and accession number of publication, or accession number of the diskette, and enclose a
check payable to "Economic and Statistical Analysis/BEA." The accession numbers are:
Publications
1977
1978
1979
1980
1981
1982
1983
1984
1985
Diskettes
BEA IID 87-403
BEA IID 87-404
BEA IID 87-405
BEA IID 87-406
BEA IID 84-101 BEA IID 86-407
BEA IID 85-101 BEA IID 87-408
BEA IID 86-101 BEA IID 86-401
BEA IID 87-101 BEA IID 87-401
BEA IID 87-102 BEA IID 87-402
In addition, tables presenting estimates of U.S. affiliates' gross product for 1977-85 will be
available later this year. The tables are $5.00 and may be obtained from Economic and Statistical Analysis/BEA at the address cited above.
SURVEY OF CURRENT BUSINESS
May 1987
book value of U.S. affiliates' property,
plant, and equipment was $294 billion, up $24 billion.
• U.S. exports shipped by affiliates
were $56 billion, down $2 billion, and
U.S. imports shipped to affiliates were
$112 billion, up $11 billion.
Employment in 1985
Although the accompanying tables
present other key items on U.S. affiliates' operations, the remainder of this
article focuses on employment. Employment was chosen because changes
37
in it are not directly affected by inflation and, thus, tend to correspond
more closely than the other available
items to changes in real economic activity.
Employment of U.S. affiliates increased 5 percent, to 2,854,000, in
Table 1.—Employment of Nonbank U.S. Affiliates, 1981-85, by Industry of Affiliate and Country of Ultimate Beneficial Owner
Change
Number of employees
1983
1984
1985
Average
annual
rate of
growth,
1982-85
1
4
7
5
4
1
29
;
Percent
Number of employees
1982
1981
All industries, all countries
1983
1985
1984
2,416,565 2,448,062 2,546,514 2,714,295 2,853,590
1982
1983
31,497
98,452
1984
1985
1982-85
167,781
139,295
437,025
1982
By industry
Mining
Petroleum .....
Manufacturing
40,352
40,574
28,747
127,699
122,206
120,774
125,441
1,300,003 1,241,599 1,321,467
1,381,504
13
11
-8
1 •"
4
(*)
(*)
-4
6
5
4
3
23,418
-1
10
5
3
4
-3,546 -11,295
222 -11,827
3,856
-5,493
-1,432
4,667
-171
2429
4
1,438,882 ' 58404
79,868
60,037
57,378
138,879
12,539
7,272
5,017
32,603 :
29,057
125,270
1 410
Food and kindred products
127,854
126,444
138,983
146,255
151,272
Chemicals and allied products
413,916
390,169
398,149
406,630
429,690
23747
7,980
8,481
23,060
15,774
-6
2
2
6
1
255,742
32,396
30,473
(D)
(D)
241,152
36,724
30,615
(D)
(D)
232,081
46,713
25,412
(D)
(D)
231,691
48,236
29,513
(D)
(D)
231,611
49,877
30,690
(D)
(D)
14 590
4,328
142
(DD)
( )
9071
9,989
-5,203
(DD)
( )
390
1,523
4,101
(DD)
( )
80
1,641
1,177
(DD)
( )
24 131
17,481
217
-6
13
(*)
-4
27
-17
(*)
3
16
(*)
3
4
(D)
(D)
(D)
(D)
(D)
2
11
(*)
(D)
(D)
Primary and fabricated metals
111,307
102,816
146,302
157,038
167,851
-8,491
43,486
10,736
10,813
56,544
8
42
7
7
11
Primary metal industries
Fabricated metal products
76,132
35,175
69,644
33,172
83,576
62,726
95,738,
61,300
104,017
63,834
-6,488
-2,003
13,932
29,554
12,162
-1,426
8,279
2,534
27,885
28,659
9
-6
20
89
15
2
9
4
8
16
301,206
285,479
292,619
308,910
308,367
15727
7,140
16,291
-543
7,161
-5
3
6
(*)
1
137,555
163,651
132,211
153,268
124,819
167,800
125,193
183,717
5344
115,318
193,049 -10,383
7392
14,532
374
15,917
9,875 -22,237
29,398
9,332
-4
-6
-6
9
(*)
9
-8
5
-4
4
345,720
336,691
345,414
362;671
381,702
9029
8,723
17,257
35,982
-3
3
5
5
3
43,059
6,643
52,860
43,904
28,387
42,389
72,840
27,777
27,861
37,008
7,029
51,436
45,196
26,345
47,641
70,953
23,841
27,242
35,590
10,746
43,764
54,565
25,663
58,299
64,658
23,744
28,385
34,624
14,158
43,094
65,843
20,163
67,860
65,699
24,118
27,112
38,456
12,962
46,933
71,612
17,028
80,812
62,122
26,601
25,176
6 051 -1,418
3,717
386
1424 -7,672
9,369
1,292
-682
-2,042
5,252
10,658
-1,887 -6,295
-97
-3,936
619 . 1,143
966
3,412
-670
11,278
5500
9,561
1,041
374
-1,273
3,832 -4,603
6,319
1 196
5927
3,839
27,708
5,769
11359
3135
38,423
12,952
-3,577 -10,718
2,483 -1,176
-1,936 -2,685
14
6
-3
3
-7
12
-3
-14
2
-4
53
-15
21
-3
22
-9
(*)
4
-3
32
_2
21
-21
16
2
2
4
11
-8
9
9
-16
19
-5
10
-7
-3
18
-3
13
-12
!
18
-4
-1
-3
253,972
280,148
269,471
287,365
296,144
26,176 -10,677
17,894
42,172
10
-4
7
3
4
52,092
42,025
95,652
28,889
35,314
51,886
37,865
116,993
33,840
39,564
54,873
23,228
118,602
28,332
44,436
62,221
19,619
126,484
26,345
52,696
71,634
20,570
133,800
20,006
50,134
206
4 igo
21,341
4,951
4,250
2,987
14 637
1,609
-5,508
4,872
19,542
9,413
951 -21,455
38,148
7,316
6339 , -8,883
14,820
2 562
(*)
-10
22
17
12
6
-39
1
-16
12
13
-16
7
7
19
15
5
6
24
5
8
-16
9
—9
9
343,981
397,729
419,806
457,049
479,917
53,748
22,077
37,243
22,868
135,936
16
6
9
5
9
217,768
126,213
211,012
186,717
218,781
201,025
238,579
218,470
256,270
223,647
-6,756
60,504
7,769
14,308
19,798
17,445
17,691
5,177
38,502
97,434
-3
48
4
8
9
9
7
2
4
15
Industrial chemicals and synthetics
Drugs
.-..:;
Soap, cleaners, and toilet goods
Other
Machinery
Machinery, except electrical
Electric and electronic equipment
Other manufacturing
Textile products and apparel
...
Lumber, wood, furniture, and fixtures
Paper and allied products ..
Printing and publishing . ...
Rubber and plastics products
Stone, clay, and glass products
Transportation equipment
Instruments and related products
Other
Wholesale trade
Motor vehicles and equipment •
Metals and minerals except petroleum
Other durable goods
Farm product raw materials
Other nondurable goods
Retail trade
Food stores and eating and drinking places
Retail trade, nee
7,348
3609
7,882
1 987
8,260
19,031
8,779
'
Finance, except- banking
18,093
25,445
36,610
42,523
46,233
7,352
11,165
5,913
3,710
28,140
41
44
16
9
26
Insurance
67,905
70,910
68,459
61,973
69,217
3,005
-2,451
-6,486
7,244
1,312
4
-3
—9
12
(*)
Real estate
Other industries
Agriculture
Forestry and fishing
Construction
Transportation
•;
Communication and public utilities
Services
28,701
25,660
26,603
27,192
31,777
-3,041
943
589
4,585
3,076
-11
4
2
17
3
235,859
243,791
254,577
298,645
337,093
7,932
10,786
44,068
38,448
101,234
3
4
17
13
9
10,959
94
57,802
40,511
2,433
124,060
11,184
97
52,481
50,744
6,320
122,965
10,901
125
44,738
47,823
8,374
142,616
9,264
145
42,915
53,100
9,480
183,741
9,742
149
41,232
58,940
9,918
217,112
478 -1,217
55
4
1 683 -16,570
18,429
5,840
7,485
438
93,052
33,371
2
3
-9
25
160
-1
-3
29
-15
6
33
16
-15
16
4
11
13
29
5
3
4
11
5
18
3
12
-8
10
42
15
-283
225
28
3
7 743
5321
10,233 -2,921
2,054
3,887
1 095 19,651
-1,637
20
1 823
5,277
1,106
41,125
By country of ultimate beneficial owner
Canada
:
Europe
Of which:
France
Germany
Netherlands
United Kingdom
Switzerland
Japan
Australia New Zealand and South Africa
Latin America
Middle East
Other Africa, Asia, and Pacific
United States
D
527,566
473,467
455,392
437,393
507,135
1,628,440 1,640,383 1,657,992 1,735,631 1,805,956
18,075
17,609
33,668
77,639
20,431
70,325
90,173
177,516
4
1
4
1
7'
5
4
4
5
3
218,038
376,931
222,889
514,002
153,542
193,953
352,072
232,370
547,705
172,517
167,203
356,297
211,990
566,339
174,545
173,084
379,522
232,181
587,050
180,632
163,768 -24,085 -26,750
4,225
406,734 -24,859
213,038
9,481 -20,380
628,373
18,634
33,703
2,028
198,593
18,975
5,881
23,225
20,191
20,711
6,087
9316
27,212
19 143
41,323
17,961
54,270
29,803
-9,851
114,371
45,051
-11
-7
4
7
12
-14
1
-9
3
1
4
7
10
4
3
-5
7
-8
7
10
7
2
1
5
7
138,093
49,371
74,670
35,118
16,620
36,860
139,876
53,894
73,736
33,912
16,490
34,379
164,102
53,697
96,028
45,387
21,660
34,181
189,987
62,999
114,730
43,975
25,008
34,830
208,601
71,148
122,569
50,164
26,508
41,078
24,226
-197
22,292
11,475
5,170
-198
25,885
9,302
18,702
1412
3,348
649
18,614
8,149
7,839
6,189
1,500
6,248
70,508
21,777
47,899
15,046
9,888
4,218
1
9
-1
-3
-1
-7
17
(*)
30
34
31
-1
16
17
19
-3
15
2
10
13
7
14
6
18
11
10
13
9
12
3
Suppressed to avoid disclosure of data of individual companies.
* Less than 0.5 percent (±).
17,999
11,943
1,783
4,523
934
-1,206
-130
-2,481
SURVEY OF CURRENT BUSINESS
38
Table 2.—Sources of Change in Affiliate
Employment, 1984 and 1985
[Number of employees]
Line
1 Change in total affiliate
employment.
1984
167,781
1985
139,295
Change in employment of large
affiliates resulting from:
214,830
178,804
New investments
60,460
76,019
Expansions of existing
operations.
4
-66,088 -108,871
Sales or liquidations of
businesses.
5
Cutbacks in existing operations ... -57,783 -56,151
6,275
13,623
6
Combinations of new
investments and sales or
liquidations of businesses.
2
3
" 7 Change not accounted for in lines
2-6.
30,554
flects weaker growth in the U.S. economy in 1985. Partly offsetting these
changes was an increase—from
179,000 to 215,000—in the number of
employees added because of new investments (table 2, line 2).4 Substantial numbers of employees were added
as a result of acquisitions of U.S. companies in retail trade, paper and food
manufacturing, and "services."
Employment in the 1982-85
Period
15,404
The slow growth in total employment in 1985 continued a pattern that
NOTE.—Lines 2-6 cover large affiliates only—that is, affilibegan in 1982. During the 1982-85
ates with more than 500 employees. Coverage is limited to
large affiliates because a large number of small affiliates
period, growth averaged only 4 perchanged their organizational structures and, in such cases, it
is difficult to determine reasons for changes in employment.
cent per year and the rate of growth
All of the change in an individual affiliate's employment is
for a single year never exceeded 7
shown on a single line, even if the change was not entirely
attributable to that factor, because it was impossible to disagpercent. In contrast, during the 4
gregate the change in an individual affiliate's employment by
source of change.
years before 1982, growth averaged 19
For new affiliates and for affiliates that were liquidated or
sold, employment was classified in "new investments" and
percent per year and the rate of
"sales and liquidations," respectively. For all other affiliates,
classification depended on (1) whether the affiliate's employgrowth
for a single year was never
ment increased or decreased, (2) whether the affiliate acquired
another business during the year, or (3) whether the affiliate
less
than
16 percent. Because 1985
sold a business or business segment during the year.
continued the pattern that began earLine 2 equals the sum of the yearend employment of
affiliates that were acquired or established during the year
lier, the remainder of this article displus the change in employment of existing affiliates that had
an increase in employment and had acquired another U.S.
cusses the entire 1982-85 period,
business during the year.
Line 3 equals the change in employment of affiliates that
rather than 1985 alone.
did not acquire another U.S. business, but had an increase in
employment.
The slow growth in 1982-85 was atLine 4 equals the employment at the end of the prior year of
affiliates that were liquidated or sold during the year plus the
tributable
to several factors. First, the
change in employment of affiliates that had a decline in
worldwide economic recession in 1982
employment and sold a business or business segment during
the year.
weakened the financial condition of
Line 5 equals the change in employment of affiliates that
did not sell a business or business segment, but had a decline
foreign multinational companies, limin employment.
Line 6 equals the change in employment of affiliates that
iting their ability to make new direct
both acquired and sold a business or business segment during
the year.
investments in that and later years.
Line 7 equals the change in employment of large affiliates
not accounted for in lines 2-6 plus all changes in employment
The recession also forced many existfor affiliates with fewer than 500 employees.
ing affiliates to cut employment.
Second, several U.S. industries—
1985, after increasing 7 percent in such as petroleum and some manufac1984 (table 1). Growth slowed mainly turing subindustries—in which affilibecause of an increase in the number ate employment was relatively large
of employees lost due to sales or liqui- experienced excess capacity and weak
dations of U.S. affiliates and a de- profits because of shifts in demand
crease in the number added due to ex- patterns (for example, the shift
pansions in the operations of existing toward more energy-efficient cars),
changes in technology, and increased
affiliates.
The number of employees lost due international competition. In these into sales or liquidations of affiliates in- dustries, both U.S. affiliates and other
creased from 66,000 to 109,000 (table U.S. companies discontinued or re2, line 4).3 Three particularly large af- duced the size of their operations.
filiates—each with more than 10,000
employees—were sold to U.S. buyers
in 1985. The number of employees
4. New investments are (1) acquisitions of a 10-perownership interest in existing U.S. busiadded because of expansions in the cent-or-more
enterprises either directly by foreign direct invesoperations of existing affiliates ness
tors or indirectly through the investors' existing U.S.
dropped from 76,000 to 60,000 (table 2, affiliates, or (2) the establishment of new U.S. affiliby foreign direct investors.
line 3). This drop mirrored a slow- ates
Data on increases in employment associated with
down in growth of the employment of new investments are also available from another BEA
all U.S. businesses and probably re- survey covering U.S. business enterprises newly ac3. In table 2, all of the change for a given affiliate is
shown on a single line, even if the change was caused
by more than one of the factors shown. See the note to
table 2 for a more detailed description of the procedures used to derive the estimates.
quired or established by foreign direct investors. Data
from that survey were not used in table 2 because of
differences in methodology, timing, and coverage. Revised results of the 1985 survey of new acquisitions
and establishments appear in "U.S. Businesses Acquired or Established By Foreign Direct Investors in
1986," in this issue.
May 1987
Third, the appreciation of the U.S.
dollar that began in late 1980 and
that continued through 1985 may
have dampened the pace of new investment activity, mainly by raising
the foreign currency cost of acquiring
U.S. businesses. It may also have reduced the U.S. dollar cost of imports,
which would have made production
abroad a relatively more attractive
means of serving U.S. markets.
Fourth, disinvestment by foreign
parents probably increased in 198285, as some of the many acquisitions
made during the 1978-81 period
proved unprofitable. Also, foreigners
tended to restructure companies acquired in 1982-85 by immediately selling off unprofitable operations or unwanted lines of business. Sometimes,
operations were sold to obtain funds
to repay loans used originally to finance the acquisition. Thus, even if
the acquisition was large, the number
of employees ultimately added to the
direct investment universe may have
been relatively small.
By industry
Among major industries, the pattern of growth for affiliates closely
followed that for all U.S. businesses
in 1982-85. Employment of both affiliates and other U.S. businesses grew
slowly or declined in most goods-producing industries—such as manufacturing, mining, and petroleum—and
grew comparatively fast in servicesproducing industries—notably, finance 5 and "services"—and in retail
trade. There were some exceptions to
this pattern, however. In construction, for example, affiliate employment declined substantially but allU.S. business employment increased.
The declines in employment in
goods-producing industries contributed significantly to the slow growth in
total affiliate employment during the
period. In construction, affiliate employment declined 17,000. Most of the
decline was in the employment of affiliates that build structures—such as
refineries, pipelines, and marine terminals—for the oil industry. Construction of this type dropped sharply
with the slowdown in the U.S. oil industry. Employment by several affili5. "Services-producing industries" is broadly definec
to include, in addition to the narrowly defined "serv
ices" division of the Standard Industrial Classification
a number of other industries that produce services
Wholesale and retail trade and construction, however
are considered goods rather than services producing
For further discussion, see "U.S. Sales of Services t(
Foreigners," SURVEY 67 (January 1987 ):27.
May 1987
ates in other nonresidential construction also declined substantially, even
though, for the United States as a
whole, growth in such construction
was strong during the period. Employment by these affiliates may have declined because the affiliates were located in areas of the country that did
not share in the strong growth.
Affiliate employment also declined
substantially in industrial chemicals
and nonelectrical machinery manufacturing (24,000 and 22,000, respectively). The declines coincided with
significant declines for other U.S.
businesses in the same industries.
Weak demand and increased international competition pushed rates of
return in these industries well below
those in other manufacturing industries and caused businesses to sell or
liquidate operations. In some cases,
the decreases in affiliate employment
may also have resulted from foreign
parents selling all of their interests in
their affiliates to U.S. buyers.
Affiliate employment in metals
wholesale trade declined 21,000. The
decline largely reflected the long-term
slump in the U.S. metals industry. A
number of large affiliates classified in
metals wholesale trade, but that also
had significant metals manufacturing
operations, made substantial cuts in
the latter during the period. In addition, a major affiliate with both large
international metals trading and investment banking operations substantially cut its metals trading activities
and sharply expanded its investment
banking operations. As a result, its
classification—and that of all of its
employees—shifted
from
metals
wholesale trade to "finance, except
banking" in 1984.
As noted earlier, in 1982-85, affiliate employment grew relatively fast
in "finance, except banking/' services,
and retail trade. Among these industries, the most employees (136,000)
were added in retail trade. Of this
total, 97,000 were added in "retail
trade other than food stores and
eating and drinking places." This
growth was largely due to acquisitions
of U.S. businesses by foreign investors. The largest such acquisitions
were of jewelry, department, and
book store chains and of a firm that
sells and develops photographic film.
In "services," affiliates added 93,000
employees. This increase, like that in
retail trade, occurred largely as a
result of acquisitions. A few of the acquired companies were sizable, par-
SURVEY OF CURRENT BUSINESS
ticularly those engaged in building
cleaning and maintenance, nursing
home services, and operating a chain
of beauty salons. Most of the increase
in "services," however, reflected a
large number of smaller acquisitions.
These acquisitions included firms providing personal, health, and business
services.
In "finance, except banking," affiliates added 28,000 employees. Acquisitions of major U.S. investment banking and securities firms accounted for
most of the growth. The shift, from
wholesale trade to finance, in the industry classification of the large affiliate with both metals trading and investment banking operations also
boosted employment.6
By country
The 4-percent average annual employment growth rate in 1982-85 for
affiliates in all areas combined largely reflected the relatively slow
growth—3 percent a year, on average—in the employment of affiliates
with UBO's in Europe. The slow
growth for these affiliates had a large
impact on overall growth because
they accounted for about two-thirds of
total affiliate employment. Employment of affiliates with UBO's in most
other areas grew much faster. Growth
was particularly rapid for affiliates
with UBO's in Latin America (13 percent), "other Africa, Asia, and Pacific" (12 percent), and Japan (11 percent). Employment of affiliates with
Canadian UBO's grew at a 5-percent
rate.
The slow growth for affiliates with
European UBO's reflected declines in
the employment of French- and Netherlands-owned affiliates and slow
growth (2 percent per year) for
German-owned affiliates. Growth
rates for Swiss- and British-owned affiliates were comparatively high—7
and 5 percent, respectively.
This uneven pattern of growth
among affiliates with European
UBO's partly reflected differences in
6. This change in industry classification had a much
greater effect on assets than on employment because,
compared with other affiliates in finance, the assets of
this affiliate were proportionately much larger than
its employment. As a result, affiliates' assets in "finance, except banking" increased more than 80 percent in 1984, much faster than in 1983, even though
growth in employment slowed. Growth in these affiliates' assets was also fast—over 50 percent—in 1985.
The 1985 growth reflected exceptionally strong increases by several of the largest investment banking
and securities affiliates. Sharp jumps in these affiliates' holdings of U.S. Government securities during
1985 accounted for a major portion of the increases.
39
the distribution of affiliate employment by industry. For example, affiliates with Netherlands UBO's were
relatively heavily concentrated in petroleum and paper manufacturing;
those with German UBO's, in industrial chemicals; and those with
French UBO's, in paper manufacturing—all U.S. industries that had comparatively weak economic performance during this period. Affiliates of
UBO's in Switzerland and the United
Kingdom, however, were more concentrated in the faster growing U.S.
industries—affiliates
with
Swiss
UBO's, in food manufacturing and
"services," and affiliates with British
UBO's, in retail trade, food manufacturing, and "services."
The uneven pattern of growth also
partly reflected differences among European countries in the pace of their
new direct investment in the United
States in 1982-85. Spending by British
and Swiss investors to acquire or establish new U.S. affiliates was significantly higher than that by investors
in other European countries.7 The
particularly strong spending by British investors may have occurred
mainly because more rapid economic
growth in Britain than in other major
European countries left British companies with more funds available for
foreign investment. In addition, Britain relaxed controls on foreign exchange transactions in 1979, which
made it easier for British companies
to invest abroad.
The high growth rates for the employment of affiliates with UBO's in
Latin America and "other Africa,
Asia, and Pacific" partly reflect the
relatively small base from which the
rates were calculated; in 1981, employment of these affiliates was only
75,000 and 17,000, respectively. The
growth for affiliates with UBO's in
Latin America was largely attributable to those with UBO's in Panama
and Bermuda; in "other Africa, Asia,
and Pacific," it was largely attributable to affiliates with UBO's in Hong
Kong.
The rapid growth in employment of
affiliates with Japanese UBO's reflects two main factors: (1) Strong
growth in Japanese exports to the
United States, which, in turn, induced
increases in the employment of U.S.
affiliates engaged in the wholesale
distribution of these products within
7. See "U.S. Business Enterprises Acquired or Established" in this issue.
SURVEY OF CURRENT BUSINESS
40
the United States, and (2) the startup goods" wholesale trade was particuor expansion of manufacturing oper- larly strong. In motor vehicles, the
ations here by several Japanese com- growth was largely attributable to the
panies, partly because of U.S. pres- startup and expansion of motorcycle,
sure on Japan to restrain its exports, automobile, and light truck manufacparticularly of automobiles, to the turing operations. (These affiliates
were classified in wholesale trade
United States.
through 1985 because revenue from
A large share of the growth in the their wholesale trade operations exemployment of Japanese-owned affili- ceeded that from their manufacturing
ates, unlike that of most other affili- operations.) In "other durable goods,"
ates, was in goods-producing indus- the growth in employment resulted
tries, mainly wholesale trade. Growth largely because affiliates expanded
in motor vehicles and "other durable their distribution operations in the
May 1987
United States to support increased exports from their foreign parents, particularly of consumer electronic goods
and office machinery. Also, as in
motor vehicles wholesale trade, some
affiliates either started or expanded
manufacturing operations.
Employment by Japanese-owned affiliates also increased significantly in
primary metals manufacturing and
retail trade. In each, a single acquisition accounted for most of the increase.
Table 3.—Employment of Nonbank U.S. Affiliates, 1981-85, by State
Change
Number of employees
Percent
Number of employees
1981
Total
1982
1983
1984
1985
2,416,565 2,448,062 2,546,514 2,714,295 2,853,590
1984
1985
1982-85
98,452
167,781
139,295
437,025
11,705
700
2,276
5,837
1,232
1,283
377
3,879
812
2,161
1,433
-245
-639
357
4,325
1,789
-2,625
3,090
1,627
-138
582
25,796
2,320
3,525
15,636
2,571
1,173
571
1982
1983
31,497
1985
Average
annual
rate of
growth,
1982-85
1983
1984
1
4
7
5
4
4
2
10
9
(*)
7
-12
8
2
12
10
9
12
7
2
2
10
2
2
5
6
3
4
-11
5
11
-1
10
4
1
5
6
4
3
2
5
6
6
2
9
8
(*)
3
-1
15
2
3
.3
3
4
.4
8.
7
6
4
6
6
4
6
8
(*)
2
9
2
-7 '
1
(*)
17
(*)
4
14
6
22
-13 -14
11
20
3
-4
(*)
2
9
8
-6
7
8
10
10
3
13
10
2
5
9
7
5
19
-4
6
12
-3
8
9
16
(*)
13
10
2
10
2
2
5
2
1
7
8
9
2
9
7
1
5
9
-2
5
-5
16
„_ i
7
4
17
16
6
1
6
11
3
-3
6
4
2
9
2
4
-1
6
7
1982
New England,..
Connecticut..
Maine
,,,,.
Massachusetts
New Hampshire
Rhode Island
Vermont
144,024
40,803
17,685
55,643
13,928
9,945
6,020
149,911
39,822
19,398
60,919
13,885
10,612
5,275
161,616
40,522
21,674
66,756
15,117
11,895.
5,652
165,495
41,334
23,835
68,189
14,872
11,256
6,009
169,820
43,123
21,210
71,279
16,499
11,118
6,591
Mideast
Delaware
District of Columbia
Maryland
New Jersey . ..
...
New YorkPennsylvania
564,531
36,018
3,164
45,082
134,929
210,342
134,996
559,663
35,212
4,178
43,358
132,079
215,066
129,770
567,478
34,692
4,083
43,997
136,542
216,942
131,222
603,551
37,385
5,306
48,126
140,769
222,343
149,622
632,789
35,167
5,627
49,235
153,350
239,255
150,155
-4,868
-806
1,014
1724
2,850
4,724
-5,226
7,815
-520
-95
639
4,463
1,876
1,452
36,073
2,693
1,223
4,129
4,227
5,401
18,400
29,238
-2,218
321
1,109
12,581
16,912
533
68,258
-851
2,463
4,153
18,421
28,913
15,159
—1
-2
32
_4
2
2
4
1
_^j
-2
1
3
1
1
6
8
30
9
3
2
14
388,570
113,605
46,992
65,939
99,850
62,184
408,139
124,542
47,730
63,057
110,421
62,389
425,022
124,997
48,162
66,687
121,213
63,963
461,750
138,595
50,932
76,609
129,578
66,036
481,908
144,312
54,759
81,734
137,877
63,226
19,569
10,937
738
-2,882
10,571
205
16,883
455
432
3,630
10,792
1,574
36,728
13,598
2,770
9,922
8,365
2,073
20,158
5,717
3,827
5,125
8,299
-2,810
93,338
30,707
7,767
15,795
38,0271,042
5
10
2
-4
11
(*)
4
(•*)
, 1
' 6
10
' 3
9
11 •»
6
15
7
3
112,329
21,644
14,632
33,048
32,618
5,557
3,484
1,346
113,593
20,443
14,107
33,117
35,495
5,731
3,059
1,641
113,790
19,252
14,218
30,272
38,519
5,835
3,683
2,011
123,760
17,999
14,274
35,456
44,077
7,132
3,219
1,603
126,064
18,419
14,443
35,450
45,630
7,571
2,774
1,777
1,264
-1,201.
525
69
2,877
174
425
295
197
-1,191
111
-2,845
3,024
104
624
370
9,970
-1,253
56
5,184
5,558
1,297
-464
-408
2,304
420
169
-6
1,553
439
445
174
13,735
-3,225
-189
2,402
13,012
2,014
-7.10
431
1
-6
(*)
-6
1
-9
9
2
20
23
577,742
26,971
17,506
73,909
78,489
25,852
47,049
11,256
88,985
65,093
57,422
49,788
35,422
587,260
27,379
17,291
76,984
80,385
26,747
46,244
13,047
92,888
60,988
58,959
52,353
33,995
620,600
30,842
17,175
84,860
86,648
28,415
49,826
13,438
97,089
61,062
59,980
56,534
34,731
669,231
33,790
18,841
87,742
97,746
31,154
50,821
14,086
105,707
65,242
63,202
67,421
33,479
706,497
29,693
18,283
95,188
106,999
36,034
50,589
15,906
116,173
66,477
69,405
69,039
32,711
9,518
408
-215
3,075
1,896
895
805
1,791
3,903
-4,105
1,537
2,565
-1,427
33,340
3,463
-116
7,876
6,263
1,668
3,582
391
4,201
74
1,021
4,181
736
48,631
2,948
1,666
2,882
11,098
2,739
995
648
8,618
4,180
3,222
10,887
1 252
242,518
30,642
7,857
24,978
179,041
244,990
27,258
7,887
26,551
183,294
258,219
25,815
9,143
26,344
196,917
267,937
30,228
10,597
27,867
199,245
283,688
33,603
10,959
26,967
212,159
2,472
-3,384
30
1,573
4,253
13,229
1443
1,256
-207
13,623
9,718
4,413
1,454
1,523
2,328
15,751
3,375
362
900
12,914
52,583
24,743
3,828
3,029
16,765
4,218
52,613
26,444
3,883
2,934
14,965
4,387
54,317
29,293
4,219
3,158
13,988
3,659
53,685
30,697
4,145
3,314
12,205
3,324
50,338
31,068
2,806
2,993
10,336
3,135
30
1,701
55
-95
-1,800
169
1,704
2,849
336
224
-977
-728
-632
1,404
-74
156
-1,783
-335
-3,347
371
-1,339
-321
-1,869
-189
-2,245
6,325
1 022
-36
6429
1083
(*)
7
1
3
11
4
3
11
9
8
7
17
-1
5
—2
5
-13
_9
-6
1
32
-10
-15
-6
SI-1
294,380
248,368
6,938
13,114
25,960
293,898
249,049
5,017
13,509
26,323
307,276
255,551
5,640
14,563
31,522
329,170
274,424
6,647
15,544
32,555
360,707
299,267
7,556
18,746
35,138
-482
681
-1,921
395
363
13,378
6,502
623
1,054
5,199
21,894
18,873
1,007
981
1,033
31,537
24,843
909
3,202
2,583
66,327
50,899
618
5,632
9,178
<*)
(*)
-28
3
1
5
3
12
8
20
7
7
18
7
3
10
9
14
21
8
5
5
2
9
8
8,746
16,996
9,507
3,070
1,569
7,090
16,370
10,078
2,515
1,942
6,859
16,251
10,207
3,055
1,824
7,227
16,548
9,755
3,376
2,810
7,380
18,511
10,014
3,671
2,203
-231
-119
129
540
-118
368
297
-452
321
986
153
1,963
259
295
-607
-1,366
1,515
507
601
634
-19
-4
6
-18
24
3
-1
1
21
6
5
2
4
11
54
2
12
3
9
-22
-4
2
1
5
9
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
, ...
,. . .
.... .,
,
..
'...'
Rocky Mountains
Colorado
,
Idaho
Montana..... ,
Utah
Wyoming
Far West
California..
Nevada...
Oregon
Washington.. .„..
Alaska
Hawaii
Puerto Rico
Other U.S.
areas 1
Foreign 2
• . . - . .
„...,.
.....
.....
,
..
* Less than 0.5 percent (±).
1. Consists of the Virgin Islands, Guam, American Samoa, U.S. offshore oil and gas sites, and
all other outlying U.S. areas.
2. Consists of employees of U.S. affiliates working abroad.
5,887
-981
1,713
5,276
-43
667
-745 .
1 656
-626
571
-555
373
37,266 128,755
-4,097 . 2,722
111
-558
21,279
7,446
28,510
9,253
10,182
4,880
3,540
-232
4,650
1,820
27,188
10,466
1,384
1,235
11,983
6,203
19,251
1,618
768 -2,711
(')
9
3
-12
22
6
2
2 ' 13
—1
-1
10
4
8
2
6
3
8
-2
16
3
5
4
-6
(*) •
2
3
8
5
2 .
-4
1
41,170
-11
2,961
3,102 . (*)
6
1,989
2
33,118
SURVEY OF CURRENT BUSINESS
41
In the Rocky Mountains, although
affiliate employment declined in four
of the five States in the region, most
of the decline resulted from a cutback
in an affiliate's large copper mining
operation in Utah.
In the Great Lakes, affiliate employment grew faster, but all-U.S.
business employment grew slower,
than in any other region. The rapid
growth for affiliates was largely concentrated in Ohio and Illinois. In both
States, many existing affiliates cut
their employment because of comparatively weak economic conditions,
but these cuts were more than offset
by increases in employment due to
new acquisitions or establishments.
By State, growth rates ranged from
15 percent in the District of Columbia
to a negative 11 percent in Utah.
Among the States with the largest affiliate employment, that is, those with
more than 50,000 employees in 1981,
growth rates ranged from 8 percent in
Ohio and Georgia to less than 1 percent in Wisconsin. In terms of numbers of employees added, the largest
increases were in California (51,000)
and Ohio (38,000).
May 1987
By U.S. region and State
Among U.S. regions, affiliate employment declined in the Rocky
Mountains and grew relatively slowly
in both the Mideast and the Plains
(table 3). The most rapid growth was
in the Great Lakes; growth was also
relatively strong in the Southeast and
the Far West. Growth in New England and the Southwest was at about
the same rate as the average for all
affiliates. Except for the Rocky Mountains and the Great Lakes, this pattern parallels that of all U.S. businesses.
Table 4.—Selected Data of Nonbank U.S. Affiliates, 1984, by Industry of Affiliate
Total
assets
Millions of dollars
Millions of dollars
Thousands of acres
Net
income
Mineral
rights
owned
and
leased
Sales
Employee
compensation
Number of
employees
Land
owned
Gross book
value of
property,
plant, and
equipment
Expenditures for
new plant
and
equipment
U.S.
exports
shipped by
affiliates
U.S.
imports
shipped to
affiliates
100,489
602,522
593,571
9,605
73,155
2,714,295
13,298
63,230
269,462
25,225
58,186
Mining..
11,234
6,073
-354
1,314
32,603
634
4,873
9,520
452
796
174
Petroleum
70,547
71,820
3,096
4,916
125,441
1,018
40,961
70,247
5,205
1,313
6,272
154,256
176,395
4,047
41,578
1,381,504
5,784
14,517
101,927
9,740
13,078
18,172
14,911
18,319
555
3,253
146,255
88
(D)
5,724
763
463
1,727
893
717
14
4
149
9
(DD)
( )
0
0
824
2
47,768
36,807
2,919
1,552
5,784
704
4,154
3,093
359
262
375
65
5,240
4,226
348
190
426
50
4,304
3,086
425
189
509
94
816
516
300
1,304
957
347
2,684
2,354
330
All industries
Manufacturing
;
Food and kindred products. .
Chemicals and allied products
Industrial chemicals and synthetics
Drugs
Soap, cleaners, and toilet goods
Agricultural chemicals
Other
55,751
39,196
5,015
3,832
6,493
1,216
61,232
42,524
5,162
5,372
6,987
1,187
2,443
2,094
17
198
150
17
13,499
9,236
1,497
991
(DD)
()
406,630
231,691
48,236
29,513
(DD)
()
Primary and fabricated metals
Primary metal industries
Fabricated metal products
20,795
15,740
5,054
23,534
17,588
5,947
247
193
54
5,290
3,351
1,939
157,038
95,738
61,300
485
476
9
(DD)
()
0
15,413
12,160
3,253
:
27,717
12,487
15,230
31,594
13,433
18,160
674
288
386
9,012
3,869
5,143
308,910
125,193
183,717
69
58
11
(DD)
(D)
( )
10,938
4,551
6,386
1,655
459
1,196
3,534
1,554
1,981
5,205
• 1,787
3,418
Other manufacturing
Textile products and apparel .
. .
Lumber, wood furniture, and fixtures
Paper and allied products
•
Printing and publishing
Rubber and plastics products
Stone, clay, and glass products
Transportation equipment
..
Instruments and related products
Other
35,081
1,896
1,226
7,256
4,845
1,661
8,145
6,380
1,729
1,943
41,715
2,596
1,091
6,230
6,247
2,289
7,992
10,535
2,421
2,315
623
64
-18
260
105
54
85
-26
74
26
10,524
647
286
1,550
1,774
523
2,098
2,404
615
628
362,671
34,624
14,158
43,094
65,843
20,163
67,860
65,699
24,118
27,112
4,249
11
874
3,168
8
9
162
6
3
10
494
0
0
(DD)
( )
1
(D)
(*)
0
(*)
22,085
1,109
744
5,862
2,465
1,123
6,118
3,044
665
954
2,352
101
30
445
345
160
390
607
74
199
2,536
69
140
357
99
73
230
1,149
230
189
4,251
141
188
402
326
253
225
1,948
441
326
67,954
228,220
1,822
8,146
287,365
313
(D)
Machinery
Machinery, except electrical
Electric and electronic equipment
Wholesale trade
Motor vehicles and equipment
Metals and minerals except petroleum
Other durable goods
Farm product raw materials..
Other nondurable goods
Retail trade
Food stores and eating and drinking places
Retail trade, nee
.
,
15,485
1,823
40,539
72,478
16,876
10,769
24,267
8,030
8,012
55,715
51,540
57,771
41,516
21,678
1,500
38
290
-30
101
1,949
634
3,560
756
1,248
62,221
19,619
126,484
26,345
52,696
()
6
(D)
59
64
(*)
(D)
33
9
(D)
4,648
1,400
4,738
1,910
2,789
600
172
724
96
232
3,255
10,778
1,876
22,888
1,742
29,311
12,052
19,903
5,295
5,916
18,071
35,835
604
5,912
457,049
13
0
9,533
1,248
442
1,161
6,813
11,258
19,846
15,990
206
398
2,838
3,074
238,579
218,470
5
7
0
0
4,403
5,130
612
636
13
429
17
1,144
D
,
D
144,010
21,289
615
2,501
42,523
3
()
1,744
667
(D)
(D)
Insurance
55,719
21,623
22
1,572
61,973
13
0
2,053
291
b
(D)
Real estate
54,274
11,797
446
576
27,192
2,515
106
42,607
4,003
(D)
(D)
D
Finance, except banking
Other industries
Agriculture
Forestry and fishing
Construction
Transportation
Communication and public utilities
Services
D
26,458
2,205
251
4,065
3,456
1,714
14,768
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000 (±) or 500 acres.
20,518
947
83
5,983
3,909
689
8,906
652
92
1
65
6
94
394
6,640
140
4
1,284
1,638
201
3,374
298,645
9,264
145
42,915
53,100
9,480
183,741
3,006
D
()
16,345
1,797
( )
(D)
1,420
1,393
21
108
6
58
D
1,891
210
1,454
2,952
1,310
8,529
129
11
149
176
199
1,133
53
4
64
(DD)
()
169
4
(D)
210
7
(D)
91
()
21
1
(D)
2
(D)
SURVEY OF CURRENT BUSINESS
42
May 1987
Table 5.—Selected Data of Nonbank U.S. Affiliates, 1985, by Industry of Affiliate
All industries
Millions of dollars
Thousands of acres
Net
income
Mineral
rights
owned
and
leased
Total
assets
Sales
Employee
compensation
Number of
employees
Land
owned
Millions of dollars
Gross book
value of
property,
plant, and
equipment
Expenditures for
new plant
and
equipment
U.S.
exports
shipped by
affiliates
U.S.
imports
shipped to
affiliates
111,735
736,231
630,113
5,454
79,869
2,853,590
14,584
60,708
293,560
28,429
56,398
Mining
11,492
6,412
-809
1,348
29,057
711
4,238
10,283
472
889
184
Petroleum
76,481
76,813
1,813
5,099
125,270
1,024
39,893
75,923
5,928
1,478
6,421
18,456
Manufacturing
170,114
185,377
1,230
44,567
1,438,882
6,430
13,936
110,665
10,213
12,882
Food and kindred products
18,658
19,701
410
3,670
151,272
88
(D)
6,987
673
389
1,473
Chemicals and allied products..
Industrial chemicals and synthetics
Drugs
Soap, cleaners, and toilet goods
Agricultural chemicals .
Other
61,447
42,441
5,780
4,622
6,833
1,771
62,464
41,867
5,886
5,810
7,408
1,494
1,776
1,511
79
154
64
-32
14,016
9,312
1,586
1,099
(D)
(D)
429,690
231,611
49,877
30,690
(D)
(D)
1,356
(D)
14
4
(D)
11
(DD)
( )
0
0
(D)
2
51,499
39,316
3,209
1,842
6,180
952
4,438
3,261
382
325
401
68
5,198
4,057
455
144
477
65
4,270
3,061
470
196
403
141
Primary and fabricated metals
Primary metal industries
Fabricated metal products
22,275
17,038
5,237
24,890
18,677
6,213
-547
-427
-120
5,983
3,908
2,075
167,851
104,017
63,834
539
530
9
(DD)
( )
0
16,230
13,021
3,209
1,089
820
269
1,506
1,252
254
2,883
2,506
377
Machinery
Machinery, except electrical
Electric and electronic equipment
29,494
12,542
16,952
32,902
13,031
19,871
-748
-72
677
9,377
3,645
5,732
308,367
115,318
193,049
54
37
16
(*)
(*)
0
12,477
4,801
7,676
1,784
498
1,286
3,205
1,452
1,753
5,715
2,016
3,699
38,240
2,385
1,275
6,824
6,205
1,532
9,408
6,592
1,949
2,071
45,419
2,955
1,164
6,724
7,173
2,172
9,317
10,728
2,826
2,360
339
43
-6
37
195
11
211
355
120
83
11,520
774
259
1,627
2,045
467
2,559
2,501
691
598
381,702
38,456
12,962
46,933
71,612
17,028
80,812
62,122
26,601
25,176
4,392
11
1,224
2,940
•- 8
8
190
6
3
3
413
0
0
(DD)
( )
1
220
(*)
0
(*)
23,472
1,212
747
5,578
2,811
1,037
7,200
3,277
772
838
2,229
132
31
366
333
135
589
440
103
101
2,585
63
161
284
192
68
223
1,186
254
153
4,114
208
202
174
453
203
350
1,650
529
345
76,367
239,054
1,703
9,068
296,144
(D)
(D)
17,297
2,588
38,370
83,365
20,921
11,392
27,942
7,240
8,872
64,234
53,975
58,806
39,285
22,754
1,936
2
-263
-168
195
2,516
699
3,954
552
1,347
71,634
20,570
133,800
20,006
50,134
D
(D)
0
(DD)
57
68
()
>)
5,888
1,430
5,293
1,785
2,901
1,185
137
866
141
259
3,306
10,791
2,248
20,264
1,761
33,995
11,873
22,961
7,904
6,632
19,664
37,976
351
6,275
479,917
(D)
0
10,566
1,432
337
1,272
7,563
12,101
21,113
16,863
349
1
3,089
3,186
256,270
223,647
(D)
0
0
5,102
5,464
717
715
10
327
40
1,232
- 3,288
46,233
6
>)
2,209
787
(D)
(D)
1,825
69,217
14
0
2,329
401
0
(*)
Other manufacturing
Textile products and apparel
Lumber, wood, furniture, and fixtures
Paper and allied products
Printing and publishing
Rubber and plastics products
Stone, clay, and glass products
Transportation equipment
Instruments and related products
Other
Wholesale trade
Motor vehicles and equipment
Metals and minerals, except petroleum
Other durable goods
Farm product raw materials
Other nondurable goods
Retail trade .....'
Food stores and eating and drinking places
Retail trade, nee
Finance, except banking
'..
..
( )
7
•
223,626
24,958
1,367
Insurance
67,449
24,013
927
Real estate..
61,418
12,132
185
712
31,777
2,488
116
46,663
5,167
>)
(D)
Other industries
29,620
23,378
1 312
7,686
337,093
3,080
(D)
17,626
1,441
(D)
(D)
2,272
272
4,542
4,266
1,732
16,536
949
90
6,270
4,627
964
10,477
108
-2
-133
-5
166
898
152
4
1,348
1,935
251
3,995
9,742
149
41,232
58,940
9,918
217,112
1,448
1,402
18
159
2
51
(D)
21
(*)
(D)
2
(D)
1,896
227
1,516
.3,704
1,200
9,083
158
16
151
210
181
726
70
5
(DD)
( )
0
129
7
(D)
243
6
Agriculture
Forestry and fishing
Construction
Transportation ....
Communication and public utilities
Services :
D
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000 (±) or 500 acres.
(D)
89
May 1987
SURVEY OF CURRENT BUSINESS
43
Table 6,-^Selected Data of Nonbank U.S. Affiliates, 1984, by Country and Industry of Ultimate Beneficial Owner
Total
assets
602,522
All countries, all industries
Sales
Employee
Net
compensaincome •
tion
Number of
employees
73,155
2,714,295
13,298
593,571
9,605
Millions of dollars
Thousands of acres
Millions of dollars
Land
owned
Mineral
rights
owned
and
leased
63,230
Gross book
value of
property,
plant, and
equipment
Expenditures for
new plant
and
equipment
U.S.
exports
shipped by
affiliates
U.S.
imports
shipped to
affiliates
269,462
25,225
58,186
100,489
By country
Canada.
106,472
77,234
2,816
14,597
507,135
4,765
21,253
64,824
5,810
4,505
7,208
Europe
302,285
323,028
6,025
45,003
1,735,631
6,516
31,815
156,865
13,644
24,816
37,807
241,287
5,784
1,029
29,877
44,452
404
818
3,917
1,245
53,627
100,134
273,724
7,032
1,215
45,812
60,248
260
1,944
4;506
1,282
47,557
103,869
5,829
295
-18
-297
1,118
95
9
-380
-9
2,324
2,692
37,374
706
305
5,431
9,313
7
345
442
232
6,255
14,337
1,458,869
34,512
16,334
173,084
379,522
310
14,742
13,183
7,951
232,181
587,050
5,337
127
531
797
100
(D)
86
24
461
3,167
31,082
(D)
0
1,645
1,729
0
(D)
(DD)
( )
(D)
10,609
141,442
4,383
540
15,450
23,861
234
505
2,140
686
41,368
52,274
12,035
512
37
1,285
2,183
15
41
252
89
2,856
4,765
21,039
154
32
11,673
2,993
0
2
1,283
111
1,594
3,197
31,341
834
345
4,024
12,132
60,997
1,068
808
1,709
694
392
7,242
48,697
388
49,304
675
(DD)
( )
679
533
10,953
31,248
673
196
- ,-47
(D)
7,630
86
-8
21
198
21
_1
(D)
147
62
1,405
5,062
50
276,762
2,872
(D)
4,705
3,136
50,690
180,632
2,343
1,178
42
1
106
7
100
13
905
5
733
(D)
0
0
17
0
(D)
516
0
15,424
473
395
995
335
158
2,190
10,788
92
1,609
22
30
155
28
62
269
1,037
6
3,777
41
9
14
36
(*)
350
3,296
29
6,466
243
44
73
184
49
2,870
2,626
377
Japan
51,855
136,765
1,322
5,151
189,987
125
(D)
15,508
2,339
23,764
47,824
Australia, New Zealand, and South Africa
64,890
19,896
-95
2,013
62,999
236
(D)
5,667
460
(D)
2,827
Latin America.
15,987
17,396
-398
3,378
114,730
888
4,668
9,669
1,001
1,463
2,054
7,106
232
203
1,245
4,132
726
568
7,477
94
391
967
4,209
1,118
699
-200
3
1,562
5
12
108
1,372
30
35
46,466
281
410
3,502
38,771
1,673
1,829
645
32
8
171
279
90
64
207
0
0
(DD)
( )
5
0
4,755
163
52
765
2,912
472
391
485
17
18
111
277
42
20
636
7
121
63
289
5
150
1,217
(D)
85
398
411
(D)
245
8,880
1,237
1,269
6,062
288
25
9,919
1,655
3,451
4,705
91
18
-197
1
-32
-169
3
(*)
1,816
212
189
1,387
20
7
68,264
11,306
21^204
34,478
1>048
228
243
40
58
118
24
3
4,462
(*)
4,092
364
5
0
4,913
642
534
3,517
201
19
515
56
58
367
31
3
828
(D)
38
837
(D)
207
(D)
3
2
41,879
1,180
40,700
27,988
1,300
10,231
708
473
7,915
474
7,440
2,772
804
3,624
134
106
-214
18
-232
-196
-47
17
8
1
1,716
70
1,646
870
185
572
13
7
43,975
2,312
41,663
17,657
6,647
15,997
703
659
516
1
515
373
26
104
3
9
1,691
0
1,691
(D)
D
( )
1,496
4
1,491
775
38
568
24
86
546
102
445
(D)
167
(D)
0
1
242
197
46
(D)
1
0
0
11,760
53
11,707
6,765
763
3,123
673
384
8,451
212
8,239
4,608
471
1,745
1,415
6,590
115
6,475
2,290
439
2,416
1,330
-177
-13
-165
-98
-24
-31
-11
606
25
582
393
34
60
94
25,008
1,113
23,895
16,208
.754
2,532
4,401
221
38
183
119
5
1
59
34
21
13
13
0
0
(*)
3,974
179
3,795
2,409
360
155
871
377
20
357
232
15
18
92
785
1
778
41
21
693
22
2,261
4
2,257
503
170
1,450
134
European Communities (10)
Belgium.
Denmark
France .
Germany,
Greece
Ireland.,
Italy
Luxembourg,
Netherlands
United Kingdom
Other Europe.
Austria
Finland.
Liechtenstein
Norway
Spain
Sweden .
Switzerland
Other.
South and Central America
Argentina
Brazil
Mexico
Panama...
Venezuela
Other
. ..
Other Western Hemisphere ...
Bahamas
Bermuda
Netherlands Antilles
United Kingdom Islands, Caribbean
Other
Middle East
. . ...
Israel
.
Other
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates
Other
Other Africa, Asia, and Pacific
Other Africa
Other Asia and Pacific..
Hong Kong
Philippines
South Korea
Other
..
.
„.. .
United States
Addendum — OPEC 1
....
10,704
4,746
39,984
7,835
47,871
76,678
64,795
801
62,935
4,824
136,196
8,638
29,941
18,727
45,044
80,202
20,734
5,136
21,747
73,760
53,372
4,559
18,059
5,650
181,430
6,540
121,419
23,968
49,706
22,552
6,388
4,420
(D)
18
43
153
. - . . 15
2
326
-160
(D)
(D)
(D)
691
34,830
1,497
36,935
4,171
9,635
4,423
139
1,835
957
31,418
1,874
4,784
607
9,290
2,296
432
1,294
109,087
422,360
111,630
1
5,885
44,755
31,367
1,095,202
68,910
278,402
23,119
341,023
79,610
21,093
81,852
;
.
i
.
:
(D)
(D)
5
(*)
.. ..
(D)
(D)
748
393
4,375
8,439
(D)
0
0
31
0
1,195
99
(D)
266
581
(D)
11,238
1,418
286
76
754
7,267
932
932
482
34
1,401
178
37
84
752
48
378
17
3,738
2,415
36,578
(D)
3,710
(*)
(DD)
( )
93
107
4,673
145
(D)
(D)
18,492
40,680
64,903
326
6,335
2,074
76,657
5,439
8,616
850
22,997
4,820
15,729
1,545
1,561
3,508
4,576
23
341
215
7,856
787
1,134
101
2,389
724
1,804
206
1,720
10,605
1,401
(D)
1,965
63
11,029
247
21,319
36
7,100
(D)
(D)
282
2,873
4,928
5,317
396
3,034
(D)
48,412
658
29,256
214
4,245
(D)
53
268
By industry
Government
Individuals, estates, and trusts.
Petroleum
Agriculture
Mining
Construction...
Manufacturing...
Transportation, communication, and public utilitities
Wholesale and retail trade
Banking
Holding companies
Other finance and insurance
Real estate
Services
D
-591
947
3,484
8
-102
-49
4,863
16
862
162
5
292
297
13
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000 (±) or 500 acres.
1. OPEC is the Organization of Petroleum Exporting Countries. Its members are Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, Venezuela, and
the United Arab Emirates.
May 1987
SURVEY OF CURRENT BUSINESS
44
Table J.—Selected Data of Nonbank U.S. Affiliates, 1985, by Country and Industry of Ultimate Beneficial Owner
Total
assets
Sales
736,231
All countries all industries
Net
income
630,113
5,454
Millions of dollars
Thousands of acres
Millions of dollars
Employee
compensation
79,869
lumber of
employees
Mineral
rights
owned
and
leased
Land
owned
2,853,590
14,584
60,708
Gross book
value of
property,
plant, and
equipment
Expenditures for
new plant
and
equipment
U.S.
exports
shipped by
affiliates
U.S.
imports
shipped to
affiliates
293,560
28,429
56,398
111,735
By country
Canada
114,719
77,232
1,218
14,606
527,566
3,329
20,159
67,665
6,348
4,175
6,915
Europe
354,363
335,469
3,888
49,413
1,805,956
9,131
31,479
172,528
15,537
23,726
39,789
266,576
5,915
1,267
29,956
51,231
549
917
4,415
1,215
57,901
113,209
282,678
7,545
1,683
43,705
64,079
319
2,125
4,402
1,308
46,651
110,861
3,468
133
15
515
969
98
-21
-304
-20
1,425
1,717
40,716
765
339
5,340
10,599
7,488
119
387
481
(D)
6,248
16,333
1,507,591
39,395
18,744
163,768
406,734
(D)
15,513
13,620
(D)
213,038
628,373
30,935
(D)
0
2,089
1,557
0
129
410
(D)
10,042
154,500
4,551
646
16,364
26,493
244
580
2,318
665
43,969
58,670
13,834
404
58
1,355
2,740
17
63
377
87
3,425
5,310
20,276
132
56
11,128
3,158
0
2
963
70
1,672
3,096
- 32,784
968
443
3,755
12,794
(DD)
( )
810
397
4,446
9,119
.....
....
,
87,787
1,050
1,117
1,785
818
400
8,309
73,898
409
52,792
740
(DD)
( )
804
513
11,622
34,451
762
420
229
(DD)
( )
15
21
156
456
(*)
8,698
104
(D)
' (D)
155
70
1,549
6,077
57
298,365
3,812
(DD)
()
4,621
3,402
51,876
198,593
2,407
1,643
40
2
608
•:• •
7
94
11
876
5
544
(D)
0
0
17
0
D
( )
323
0
18,028
508
570
1,171
362
164
2,641
12,515
97
1,703
29
35
117
35
18
382
1,080
8
3,450
48
17
14
41
(*)
453
2,847
31
7,005
228
51
81
166
64
3,233
2,781
400
....
63,637
152,072
1,255
5,991
208,601
126
(D)
18,436
2,960
22,753
57,752
104,643
23,119
365
2,739
71,148
282
(°)
6,996
811
2,970
2,392
1,453
2,120
European Communities (10)
Belgium .....
...
France
Germany
Greece
Ireland
Italy
Luxembourg
Netherlands
United Kingdom
Other Europe
Austria
Finland
Liechtenstein
Norway
Spain
Sweden
Switzerland
Other
.
.
.
............
.
....
.
..
....
...
..
.
Japan
Australia New Zealand and South Africa
16,164
Latin America
17,071
-1,034
(D)
(D)
1,344
855
95
(D)
80
22
450
4,474
(D)
:..
3,400
122,569
947
4,491
10,168
1,176
717
30
8
274
257
88
61
193
0
0
(DD)
( )
5
0
4,736
176
57
882
2,720
487
414
442
29
6
130
203
46
27
726
7
109
60
D
( )
5
(D)
1,259
230
38
57
109
23
3
4,298
(*)
4,092
200
5
0
5,432
670
836
3,673
233
20
734
87
255
367
22
3
727
(D)
55
(D)
8
(*)
860
124
394
336
5
2
7,377
258
210
1,401
4,103
782
623
7,790
100
396
1,010
4,254
1,238
792
201
-4
-14
-29
149
3
2
1,636
6
14
119
1,425
34
39
46,877
283
430
3,764
38,736
1,751
1,913
8,788
1,219
2,255
4,837
451
26
9,281
1,286
3,894
3,767
315
19
-833
-118
-33
-690
8
(*)
1,764
202
271
1,187
96
8
75,692
12,107
29,066
29,457
4,827
235
59,261
1,373
57,888
43,214
1,053
12,106
724
792
9,246
530
8,716
4,208
692
3,276
155
385
-333
13
-346
-319
-113
97
-6
-5
2,145
81
2,063
1,107
153
696
20
88
50,164
2,797
47,367
20,532
5,874
16,180
936
3,845
516
1
515
379
27
97
3
9
1,410
0
1,410
(DD)
(D)
()
0
0
12,266
100
12,167
6,951
556
3,415
700
545
1,055
31
1,024
474
30
406
33
82
434
80
354
(D)
56
206
4
(D)
279
219
60
0
(DD)
( )
9,115
241
8,874
4,696
436
1,915
1,826
9,614
117
9,497
2,554
484
2,420
4,040
-241
-23
218
79
-25
-69
-45
688
22
666
436
37
80
113
26,508
1,234
25,274
16,972
767
2,889
4,646
220
44
177
113
5
1
58
34
21
13
13
0
0
(*)
4,140
218
3,923
2,433
320
188
982
427
19
408
253
20
33
101
637
15
623
49
21
531
22
2,389
United States
14,329
6,290
Addendum— OPEC l
57,171
9,072
64,029
86,664
70,163
833
(D)
5,540
155,864
22,076
80,106
55,515
4,405
19,088
5,871
197,474
8,023
131,056
20,138
50,437
24,429
6,632
4,862
South and Central America
Argentina
Brazil
Mexico
Panama
Venezuela
Other
Other Western Hemisphere
Bahamas...
Bermuda
Netherlands Antilles
United Kingdom Islands, Caribbean
Other ....
Middle East
Israel
Other
Kuwait
Lebanon
Saudi Arabia
United Arab Emirates..
Other. ....
.....
,
,
.....
Other Africa, Asia and Pacific
Other Africa.....
Other Asia and Pacific
Hong Kong
Philippines
South Korea
Other
•
(D)
97
358
504
(D)
219
(*)
2,383
527
180
1,503
174
887
41,078
31
••(*)
1,360
114
250
99
-229
1,871
40,331
576
(D)
11,770
968
292
93
-987
383
1,737
-16
174
-58
3,744
-83
940
180
-1,167
637
78
-108
4,535
10,438
4,717
148
2,066
991
34,108
2,311
5,144
595
10,032
2,773
521
1,490
110,951
464,210
109,825
6,157
44,843
32,218
1,136,152
74,141
292,766
18,840
361,446
89,488
23,876
88,677
1,581
7,152
939
881
517
33
1,925
215
38
142
737
42
364
18
3,690
2,084
35,643
(D)
3,962
8
(DD)
( )
123
107
3,466
103
(DD)
( )
20,099
43,386
70,241
339
6,193
2,268
85,491
6,452
9,416
1,049
24,534
5,103
17,184
1,804
1,470
3,673
4,987
37
403
215
9,073
828
1,344
89
2,823
843
2,472
171
1,667
9,535
1,580
2,609
4,893
5,535
(D)
2,575
295
55,402
719
34,329
237
4,109
(D)
58
261
335
By industry
Government
Individuals estates and trusts
Petroleum
Agriculture . .
.
Mining
...
Construction
Manufacturing
Transportation, communication, and
Wholesale and retail trade
Banking
. . .
Holding companies
.
Other finance and insurance
Real estate
.
Services
..
D
.
. . .
.
....
public utilities....
;
..
.
....
..
..
: ....
....
...
....
..
....
(D)
33,166
23,353
46,601
110,516
23,223
6,051
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000 (±) or 500 acres.
1. See footnote 1, table 6.
(D)
2,558
33
11,304
265
20,185
14
7,120
(DD)
( )
272
May 1987
SURVEY OF CURRENT BUSINESS
45
Table 8.—Employment of Nonbank U.S. Affiliates, 1984, Industry of Affiliate by Country of Ultimate Beneficial Owner
[Number of employees]
Europe
All industries
Mining1
Petroleum
Manufacturing
'
'
Of which—
All
countries Canada
Total
2,714,295 507,135
1,735,631
173,084
32,603
9,569
16,770
551
125,441
5,761
109,551
1,381,504 303,157
885,637
D
United SwitzerFrance Germany Netherlands Kingdom land
111,787
Food and kindred products;
146,255
()
Chemicals and allied products
Industrial chemicals and synthetics
Drugs
Soap, cleaners, and toilet goods....
Agricultural chemicals
Other. .
406,630
231,691
48,236
29,513
(DD)
()
(D)
487
()
Primary and fabricated metals
Primary metal industries
Fabricated metal products
157,038
95,738
61,300
26,870
16,217
10,653
308,910
125,193
183,717
Machinery
Machinery, except electrical
Electric and electronic equipment
,
Other manufacturing
Textile products and apparel
Lumber, wood, furniture, and fixtures
Paper and allied products
Printing and publishing.
Rubber and plastics products
Stone, clay, and glass products
Transportation equipment
Instruments and related products
Other
Wholesale trade ....
Motor vehicles and equipment
Metals and minerals except petroleum
Other durable goods
Farm product raw materials
Other nondurable goods
Retail trade
....
Food stores and eating and drinking places
Retail trade, nee
Finance, except banking
Insurance....
Real estate..
....
.....
Other industries....
Agriculture
....
Forestry and fishing
Construction ....
...
Transportation...
Communication and public utilities
Services
..
D
.
43,975
25,008
34,830
51
(D)
11
0
0
: 50,929
394
294
(D)
6,412
2,179
(D)
465
1,429
286,079
103,212
64,763
26,663
67,701
7,470
9,651
16,462
4,228
1,334
9,346
2,014
(D)
99,696
222,104
96,783
72,967
D
( )
4,268
1,066
( )
1,951
( )
(D)
(D)
(D)
(DD)
(D)
(D )
( )
0
(D)
(D)
0
31
(D)
0
(D)
0
,0
(D)
D0
(D)
(D)
0
31
(D)
0
( DD)
( )
0
D
D
47,302
31,976
11,908
953
337
2,128
42,688
(DD)
( )
4,858
22
225
3,955
1,029
(D)
(D)
26
0
0
(D)
0
6
()
0
0
0
0
0
0
1,337
(DD)
()
17,837
8,344
9,493
(D)
2,248
28,217
27,081
1,136
14,194
(DD)
( )
(D)
369
(D)
(DD)
( D)
( )
125
0
125
31
0
31
(D)
12,943
8,336
4,607
17,697
8,430
9,267
(DD)
()
60
(D)
3,193
(D)
(D)
2,103
(D)
61,483
31,577
29,906
1,417
658
759
(D)
(D)
129
(D)
(D)
0
(D)
1,077
(D)
191
(DD)
()
38
86,490
10,959
5,503
2,011
9,770
8,481
24,967
7,605
7,295
9,899
10,660
1,981
603
307
1,684
(D)
2,733
1,630
10,626
1,127
(DD)
()
506
1,845
756
1,629
2,052
(D)
9,900
0
(D)
0
D
(D)
( )
1,575
0
(DD)
( )
6,375
(D)
0
35
2,862
388
(D)
0
(D)
470
914
0
26
140
214
19,703
(DD)
( )
6,237
44,183
4,208
3,519
1,088
6,074
3,759
4,123
(D)
7,068
(D)
8
0
18
0
(D)
11
4,965
11
(D)
0
(D)
101
(D)
2,395
0
2
6,983
(D)
0
(DD )
( D)
( )
0
D0
( 0)
353
0
0
0
(D)
101
(D)
0
0
0
168,972
30,975
56,378
4,814
38,681
14,304
81,911
2,234
2,817
4,075
4,381
214
4,345
(D)
527
5,543
(D)
1,360
17,887
2,966
17,471
70
17,984
15
(D)
1,448
390
9,444
2,865
16,412
691
9,269
(DD)
( )
4,489
4,733
4,789
17,950
5,632
51,309
4,341
2,679
(D)
10,258
329
9,243
40,741
9,813
58,344
21,532
38,542
679
0
(D)
129
622
1,232
143
691
(D)
205
(D)
0
23
273
63
2,964
0
1,081
0
D0
( DD)
( )
2,043
0
23
95,728
318,220
10,527
62,463
65,587
120,886
13,155
16,458
7,973
9,593
(D)
3,510
(DD)
D
(DD)
( )
7,775
5,380
2,712
13,746
0
7,973
0
9,593
5
(D)
(DD)
( )
13,800
(D)
4,950
(D)
609
24,129
(D)
44
(D)
0
386
58,485
38,549
19,936
8,397
5,267
3,130
8,105
5,320
2,785
46,207
(D)
(D)
211,596
85,606
125,990
14,292
10,811
3,481
30,979
13,030
17,949
362,671
34,624
14,158
43,094
65,843
! 20,163
67,860
65,699
24,118
27,112
83,443
5,624
;l,583
24,350
37,828
1,039
10,693
1,265
551
510
239,465
20,309
10,383
16,855
19,005
16,120
53,214
60,410
19,802
23,367
64,409
545
(D)
287,365
22,761
62,221
19,619
126,484
26,345
52,696
(D)
457,049
(D)
(°)
(°)
(D)
(D)
264,304
105,551
39,698
26,515
(D)
D
6,339
4,426
(D)
39
(D)
(D)
(D)
(D)
238,579
218,470
73,121
22,607
157,622
160,598
7,226
3,301
( )
(D)
42,523
2,155
18,390
714
525
156
9,209
40,968
262
3,006
()
11,811
'" '•
18,454
(°)
(D)
(°)
6,802
D
(D)
D
( )
'
(D)
(°)
(°)
(D)
( 0)
(9)
(D)
(D)
(D0)
(D)
(D)
22
5
(D)
1
(D)
(D)
(D)
(D)
D
()
0
()
( )
0
2,065
368
38
1,901
D
D
27,192
16,210
6,242
600
716
963
2,941
()
878
171
1,220
298,645
42,585
170,881
20,413
27,492
9,304
52,060
39,030
20,482
15,714
26,023
14,585
6,390
1,985
13,119
9,264
145
42,915
i 53,100
9,480
183,741
244
3
2,015
13,540
4,786
21,997
5,541
137
38,033
23,176
4,694
99,300
487
, (D)
9,067
(D)
1,158
9,021
; 1,052
6
13,391
1,991
0
11,052
(D)
1,961
20
5,519
(D)
1,247
1,712
0
864
6,072
0
11,834
(D)
0
1,092
(D)
0
(D)
1,079
1
321
772
0
23,850
419
0
(DD)
( )
0
13,491
(D)
4
(D)
2,096
0
3,881
7
0
0
(D)
D0
309
0
1
63
0
12,746
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 6.
114,730
(D)
3,220
137,866
39,493
4,216
6,339
(DD)
( )
61,973
..
36,935
62,999
•;(P)-
(D)
2,758
United Addendum —1
States OPEC
395
587,050
4,824
971
Other
Africa,
Asia,
and
Pacific
180,632 189,987
379,522 232,181
6,259
Australia,
New
Latin Middle
Zealand,
Japan
America East
and
South
Africa
0
(D)
1,132
0
2,552
(D)
37,132
(D)
(D)
(D)
0
20,631
()
SURVEY OF CURRENT BUSINESS
46
May 1987
Table 9.—Employment of Nonbank U.S. Affiliates, 1985, Industry of Affiliate by Country of Ultimate Beneficial Owner
[Number of employees]
Europe
All
countries Canada
All industries
2,853,590 527,566
Of which—
Total
Japan
United SwitzerFrance Germany Netherlands Kingdom land
1,805,956 163,768
406,734 213,038
D
628,373 198,593 208,601
Mining....
29,057
8,947
14,487
479
4,124
( )
3,176
387
Petroleum
125,270
5,299
107,826
9,536
1,822
(D)
48,840
657
1,438,882 285,836
941,278
90,872
250,754
91,855
313,679
(D)
115,347
5,362
657
3,713
68,440
Manufacturing ..
Food and kindred products......
151,272
D
Australia,
New
Middle
Latin
Zealand,
America East
and
South
Africa
Other
Africa,
Asia,
and
Pacific
United
States
26,508
41,078
( )
0
11
0
o
8,632
2,012
(D)
450
(D)
30,601
69,238
9,383
9,182
21,545
4,408
879
924
2,083
(D)
(D)
(D)
• ( )
0
0
(D)
D0
()
0
0
0
0
0
0
(DD)
( )
0
32
(D)
0
128
0
128
5,778
5,746
32
(D)
1,321
552
769
64
(DD)
( )
734
0
734
27
(D)
8
0
18
4,830
11
(D)
0
26
104
(D)
(D)
11
0
2
(D)
(D)
0
(DD)
( )
0
0
D0
( 0)
362
0
0
0
240
104
18
0
0
0
4,600
( )
(D)
271
(°)
114,967
71,819
(D)
4,533
122,569
D
D
Chemicals and allied products
Industrial chemicals and synthetics
Drugs
Soap, cleaners, and toilet goods
Agricultural chemicals
Other
429,690
231,611
49£77
30,690
(D)
(D)
(DD)
(D)
(D)
(D)
( )
497
299,007
116,738
40,489
28,115
(DD)
( )
6,513
4,636
(D)
40
(D)
103
165,290
48,745
3,553
6,250
(DD)
( )
22,410
(D)
11
(D)
0
(D)
54,782
38,036
12,458
1,023
345
2,920
42,352
(D)
(D)
5,492
23
231
3,968
850
(D)
(D)
(D)
43
6
0
0
0
0
6
( )
8
(D)
378
0
(D)
Primary and fabricated metals
Primary metal industries
Fabricated metal products
167,851
104,017
63,834
30,900
19,742
11,158
56,926
35,381
21,545
6,980
3,473
3,507
7,729
5,002
2,727
1,380
(DD)
( )
19,174
9,079
10,095
(D)
(D)
2,205
28,944
27,817
1,127
15,389
13,737
1,652
(DD)
(D)
( )
Machinery
Machinery, except electrical
Electric and electronic equipment
308,367
115,318
193,049
46,159
(DD)
()
212,520
84,013
128,507
15,840
12,292
3,548
33,439
13,014
20,425
(D)
62,539
33,587
28,952
13,602
6,441
7,161
21,521
9,158
12,363
1,197
1,135
62
(D)
2,452
(D)
Other manufacturing.......
Textile products and apparel .
Lumber, wood, furniture, and fixtures
Paper and allied products
Printing and publishing .
Rubber and plastics products
Stone, clay, and glass products
Transportation equipment
Instruments and related products
Other
381,702
38,456
12,962
46,933
71,612
17,028
80,812
62,122
26,601
25,176
72,142
5,132
1,592
7,407
38,513
1,065
15,632
1,672
435
694
257,478
21,078
6,245
37,618
23,352
12,963
59,491
53,364
22,254
21,113
56,177
559
(DD)
( )
143
1,255
18,510
108,744
12,517
(D)
1,384
(D)
235
55
459
39
11,022
4,601
32,335
7,259
11,195
14,883
2,068
433
(D)
(D)
315
1,943
(D)
4,250
1,638
12,853
1,292
(D)
(D)
491
1,937
c- 855
3,551
2,149
1,261
13,130
0
(D)
2,669
43,639
4,241
4,197
1,158
6,341
3,955
4,122
10,563
7,995
1,067
0
752
(D)
9,974
(DD)
( )
36
2,727
(DD)
( )
0
809
(D)
296,144
21,869
167,345
29,569
51,206
5,105
40,697
12,772
91,864
2,527
3,057
4,407
4,869
206
71,634
20,570
133,800
20,006
50,134
(D)
(D)
8,889
220
9,780
46,223
9,322
61,546
15,018
35,236
(DD)
( )
7,414
10,467
2,878
21,436
2,724
15,395
74
11,577
16
(D)
1,571
354
(D)
10,386
2,377
17,638
563
9,733
(DD)
( )
4,595
(D)
4,491
21,026
6,788
56,683
4,612
2,755
(DD)
( )
687
(DD)
( )
147
666
1,418
(DD)
( )
(D)
275
(D)
0
24
469
66
3,158
0
1,176
0
D0
479,917 122,833
310,611
12,011
64,417
53,454
117,494
12,653
14,863
7,497
13,245
(D)
4,065
81,806
41,027
166,730
143,881
D
((D)
)
(DD)
()
(DD)
()
39,516
77,978
7,382
5,271
2,803
12,060
0
7,497
0
13,245
5
(D)
Wholesale trade
Motor vehicles and equipment
Metals and minerals, except petroleum
Other durable goods..
Farm product raw materials
Other nondurable goods.....
'.
....„
Retail trade
Food stores and eating and drinking places..
Retail trade, nee
256,270
223,647
(D)
(D)
(D)
D0
()
(D)
(D)
40,331
50,164
71,148
(DD)
1,621
(D)
Addendum —
OPEC1
(D)
0
(DD)
()
3,438
D
(D)
( )
0
32
0
(D)
(DD)
()
(D)
(DD)
()
(D0)
(D)
(D)
(D)
0
(D)
(D)
1,853
0
24
(D)
(D)
( 0)
(D)
(D)
(22D)
(D)
77
5
72
Finance, except banking
46,233
2,479
16,973
753
417
(D)
11,750
(D)
5,183
(D)
(D)
(D)
475
(D)
Insurance
69,217
9,850
46,554
278
3,024
11,581
23,854
7,149
D
( )
15
(D)
0
(D)
(D)
0
Real estate
31,777
18,080
7,649
553
680
1,336
3,633
(D)
1,614
653
942
1,959
841
39
1,794
337,093
52,373
193,233
19,717
30,290
7,855
65,250
45,928
22,701
18,628
26,248
14,682
6,962
2,266
12,682
9,742
149
41,232
58,940
9,918
217,112
244
3
2,143
18,163
5,455
26,365
5,768
141
35,685
24,575
4,437
122,627
537
(D)
8,284
(D)
526
9,620
1,041
6
14,868
2,025
0
12,350
330
0
3,440
1,206
0
2,879
1,976
21
3,634
(DD)
( )
50,740
1,370
(DD)
( )
13,779
0
26,867
1,659
0
1,384
6,329
0
13,329
(D)
0
1,094
(D)
0
(D)
1,235
(D)
326
780
(D)
23,880
427
0
298
497
0
13,460
(DD)
( )
302
2,160
(D)
4,232
7
0
0
(D)
D0
Other industries .
Agriculture
Forestry and fishing
Construction . .
Transportation
Communication and public utilities
Services
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 6.
()
297
0
1
64
0
12,320
SURVEY OF CURRENT BUSINESS
May 1987
47
Table 10.—Total Assets of Nonbank U.S. Affiliates, 1984, Industry of Affiliate by Country of Ultimate Beneficial Owner
[Millions of dollars]
Europe
All
countries Canada
All industries
Mining
Petroleum
Manufacturing
Of which—
Total
United SwitzerFrance Germany Netherlands kingdom land
29,877
44,452
53,627
100,134
48,697
51,855
64,890
15,987
41,879
8,451
10,704
5,297
(D)
1,457
(D)
635
(D)
(Dj
(D)
10
(D)
3
15
0
70,547
5,231
61,184
(D)
1,212
(D)
24,029
369
804
691
1,556
(D)
181
(D)
780
154,256
45,457
84,782
10,699
21,366
7,464
27,448
9,874
8,976
3,804
7,819
D
( )
Chemicals and allied products
Industrial chemicals and synthetics
Drugs
Soap, cleaners, and toilet goods
Agricultural chemicals
Other
55,751
39,196
5,015
3,832
6,493
1,216
(DD)
Primary and fabricated metals
Primary metal industries
Fabricated metal products
Food stores and eating and drinking places
Retail trade, nee ....
Finance, except banking
Insurance
719
112
D
713
1,469
1,236
529
D
141
(D)
(D)
157
4,923
( )
457
118
( )
87
6,926
5,203
1,411
91
71
149
4,965
727
276
130
(DD)
(D )
22
0
0
(D)
0
(D)
D
( )
1
(Dp )
(D)
( )
0
(DD)
( )
0
4
(D)
0
(D)
0
0
(D)
D0
0
0
0
0
0
0
( DD )
( )
0
4
(D)
0
(D)
3,898
3,757
141
2,854
(D)
(D)
73
(D)
(D)
(DD)
( )
16
0
16
0
1
1
(DD)
(D )
()
( DD )
( )
0
D
?
1,446
922
(D)
10
(D)
33
12,655
5,584
421
(DD)
(D)
( )
3,510
1,143
16
(D)
0
56
()
4,321
3,672
(D)
739
3,641
2,849
792
7,481
6,102
1,379
1,000
772
227
947
698
249
112
13
99
2,897
,
20,795
15,740
5,054
()
218
,
,
27,717
12,487
15,230
4,536
(DD)
( )
16,410
7,617
8,792
1,067
874
193
3,531
1,361
2,169
(D)
163
5,364
2,930
2,434
983
635
348
1,953
1,143
810
125
121
5
(D)
481
(D)
98
(DD)
( )
(DD)
( )
97
35,081
1,896
1,226
7,256
4,845
1,661
8,145
6,380
1,729
1,943
8,991
279
127
4,486
2,574
48
6,468
27
(DD)
( )
10
27
2,477
3,389
74
438
4,121
256
229
154
602
442
443
6
7,337
556
575
716
803
669
2,429
482
479
627
1,015
82
(DD)
(D)
( )
20
403
: (D)
214
115
1,940
100
(DD)
()
29
180
39
(D)
210
(D)
685
0
(D)
0
(DD)
( )
221
0
(DD)
( )
338
(D)
0
8
(D)
16
12
0
31
12
110
0
13
(D)
(*)
0
(D)
0
8
2
697
2
(D)
49
48
21,764
1,113
946
2,094
1,617
1,373
6,119
5,541
•1,377
1,584
0
22
0
0
0
(D)
3
(D)
0
0
0
67,954
(D)
29,956
5,746
8,101
902
7,148
2,748
29,401
(D)
849
831
2,091
266
615
16,876
10,769
24,267
8,030
8,012
(*)
(D)
1,470
12
1,934
7,868
2,885
9,874
5,298
4,031
(D)
370
657
(D)
261
4,022
751
2,284
8
1,037
2
(DD)
()
81
104
1,065
675
3,529
622
1,258
(DD)
( )
768
1,349
528
8,252
6,540
11,347
2,587
675
(D)
181
(D)
0
(D)
320
132
809
0
831
0
D0
140
20
192
228
73
335
(DD)
( )
329
0
6
D
()
( )
,
,
,
Wholesale trade
Retail trade
39,984
302,285
D
Motor vehicles and equipment
Metals and minerals, except petroleum
Other durable goods
Farm product raw materials. . .
Other nondurable goods
United Addendum —1
States OPEC
3,124
( )
Other manufacturing
Textile products and apparel
Lumber, wood, furniture, and fixtures
Paper and allied products
Printing and publishing
Rubber and plastics products
Stone, clay, and glass products
Transportation equipment
Instruments and related products
Other
Other
Africa,
Asia,
and
Pacific
11,234
14,911
Machinery
Machinery, except electrical .
Electric and electronic equipment
Australia,
New
Latin Middle
Zealand,
America East
and
South
Africa
602,522 106,472
D
Food and kindred products
Japan
,
18,071
6,813
11,258
( )
(D)
S
D
( )
(°)
(D)
(D)
3,259
1,794
1,465
D
12,969
4,609
8,360
357
225
132
(D)
529
(D)
2,272
D
()
(D)
(D)
(D)
(°)
(D)
0
(D)
85
148
17
38
(D)
(D)
D
(D)
(D)
489
3
22 '•'• ( )
(D)
(D)
(D)
D
(°)
; ( 0)
()
(D)
0
(D)
3
(D)
173
0
2
557
(D)
D0
(D)
(D)
( 0)
0
(D)
( 0)
(D)
()
0
(D)
2,456
5,844
320
623
263
500
(DD)
(D)
74
247
322
301
0
263
0
500
2
(D)
(D)
(D)
(D)
(D4)
8,014
D
( )
289
25,978
(D)
D
( )
(D)
(D)
265
0
8
(D)
0
2,333
148
7,720
( )
(°)
D
144,010
( )
47,095
3,846
1,251
1,832
12,974
( )
55,719
17,815
28,609
321
3,706
7,293
9,888
(D)
-
D
12
(D)
(D)
(°)
Real estate
54,274
19,122
19,785
825
2,738
3,853
8,830
1,368
1,923
233
2,919
7,811
Other industries
26,458
3,506
12,608
3,530
2,351
823
3,338
1,505
1,683
671
1,779
5,462
598
151
(D)
2,205
251
4,065
3,456
1,714
14,768
79
9
(D)
1,357
(D)
1,129
1,355
214
3,722
1,265
669
5,383
158
(D)
2,001
68
(D)
955
375
51
817
102
0
1,006
39
0
288
116
1
379
243
(D)
343
398
350
22
157
454
0
523
95
0
(D)
(DD)
( )
960
(D)
1
(DD)
()
0
210
459
13
7
56
0
1,244
(D)
39
13
20
125
0
401
5
0
0
8
0
137
177
(*)
3
4
0
(D)
Agriculture
Forestry and fishing .
Construction
Transportation
Communication and public utilities
Services
D
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.
1. See footnote 1, table 6.
(D)
1,966
;
(D)
11
0
5,302
May 1987
SURVEY OF CURRENT BUSINESS
48
Table 11.—Total Assets of Nonbank U.S. Affiliates, 1985, Industry of Affiliate by Country of Ultimate Beneficial Owner
[Millions of dollars]
Australia,
New
Middle
Latin
Zealand,
Japan
America East
and
South
United SwitzerNetherFrance Germany lands kingdom land
Africa
Europe
All
countries Canada
Other
Africa,
Asia,
and
Pacific
Of which—
Total
AddenUnited dum —
States OPEC1
57,171
736,231 114,719
354,363
51,231
57,901
113,209
73,898
63,637
104,643
16,164
59,261
9,115
14,329
11,492
3,121
5,417
D
( )
1,483
(D)
883
(D)
(D)
(D)
11
0
3
14
0
76,481
5,173
66,352
(D)
1,359
(D)
25,604
559
712
689
2,157
694
(D)
(D)
798
170,114
45,300
98,338
10,534
24,154
8,052
33,153
13,752
10,262
4,782
7,429
782
1,563
1,657
533
18,658
(D)
(D)
597
97
288
5,224
(D)
504
86
(D)
93
202
(D)
(D)
Chemicals and allied products
Industrial chemicals and synthetics
Drugs
Soap cleaners and toilet goods
Agricultural chemicals
Other
61,447
42,441
5,780
4,622
6,833
1,771
(DD)
(D)
(D)
(D)
D
( )
0
D0
( )
61
591
2
(D)
(D)
53
0
(D)
()
0
(D)
0
0
0
0
0
0
(D)
(D)
0
4
(D)
0
Primary and fabricated metals
Primary metal industries
Fabricated metal products
22,275
17,038
5,237
• AH industries .
.. .
Mining1.
Petroleum
.
•
Manufacturing
Food and kindred products
Machinery....
Machinery, except electrical
Electric and electronic equipment
Other manufacturing
Textile products and apparel
Lumber, wood, furniture, and fixtures
Paper and allied products
Printing and publishing
Rubber and plastics products
Stone, clay, and glass products
Transportation equipment
Instruments and related products
Other
Wholesale trade
Motor vehicles and equipment
Metals and minerals except petroleum
Other durable goods
Farm product raw materials
Other nondurable goods
Retail trade
Food stores and eating and drinking places
Retail trade, nee
Finance, except banking
.,
29,956
D
4,928
4,479
6,469
1,259
1,437
974
(D)
10
(D)
25
14,939
7,149
413
(DD)
( )
691
4,045
1,019
6
(D)
0
(D)
8,743
6,534
1,793
109
77
230
5,191
(DD)
( )
516
3
24
697
288
285
(DD)
( )
4
0
0
0
0
4
4,243
3,443
799
7,355
5,777
1,579
729
490
239
960
698
262
114
(°)
(D)
2,920
(D)
(DD)
()
238
4,210
4,062
148
3,172
3,047
125
(DD)
(D)
( )
(DD)
(D)
( )
17
0
17
429
428
1
( DD)
( )
0
29,494
12,542
16,952
5,381
D
((D)
)
17,405
8,251
9,154
1,372
1,167
205
3,843
1,394
2,449
(D)
150
(D)
5,569
3,263
2,306
1,196
629
567
2,634
1,297
1,337
111
106
5
D
((D)
)
(DD)
( )
151
18
(D)
( )
133
(DD)
( )
29
0
29
38,240
2,385
1,275
6,824
6,205
1,532
9,408
6,592
1,949
2,071
6,399
273
130
1,303
2,894
51
(DD)
( )
37
68
26,056
1,283
891
4,833
2,234
1,196
6,897
5,482
1,572
1,668
6,400
29
(DD)
( )
11
112
2,390
3,321
80
223
4,314
282
259
174
687
489
460
10,697
679
(D)
3,269
1,027
405
3,190
610
447
1,631
88
(DD)
( )
594
(D)
(DD)
( )
0
(D)
141
(D)
18
5
29
6
1,410
0
(D)
0
(DD)
( )
463
0
42
(D)
479
(DD)
()
8
203
17
D
( )
0
33
13
(D)
0
13
(D)
(*)
0
9
(DD)
( )
2
702
2
(D)
0
17
(DD)
( )
186
0
2
(DD)
( )
0
(DD)
( )
0
0
D0
(D)
22
563
(D)
366
129
2,217
101
(D)
580
29
226
69
747
238
(D)
( 0)
24
0
0
0
13
(DD)
( )
0
0
0
76,367
5,762
9,962
822
8,546
2,318
34,135
469
904
948
2,190
275
610
2
(DD)
()
82
156
1,283
725
4,476
536
1,526
(D)
(D)
701
897
605
10,165
7,208
13,400
2,686
676
(D)
.164
69
(D)
178
(D)
213
252
(D)
341
(D)
182
(D)
0
(D)
324
132
.847
0
887
0
D0
(DD)
( )
305
0
6
2,097
6,119
337
602
294
682
212
(D)
75
262
281
321
0
294
0
682
3
209
(D)
293
((D))
;
(D)
3,863
33,583
20,921
11,392
27,942
7,240
8,872
(*)
710
1,141
73
1,939
9,856
2,784
11,758
4,394
4,790
()
410
790
(D)
480
5,389
650
3,048
8
867
19,664
3,916
13,578
432
2,672
2,067
1,849
5,129
8,450
246
186
(D)
7,563
12,101
223,626
6,193
66,651
D
3,497
(°)
1,252
D
( )
(°)
1,254
(D)
D
((D))
13,206
(D)
(D)
(D)
12,538
(D)
D
D
412
(D)
0
4
(D)
0
D
( )
D
( )
(D)
()
(D:
(D)
(D)
.
13
4
3
11
178
(D)
D
Insurance
67,449
21,590
33,279
343
4,184
8,640
11,920
(D)
( )
( )
329
0
9
( )
0
Real estate
61,418
21,189
22,698
860
2,896
4,562
9,916
1,926
2,597
582
3,130
8,618
2,445
159
8,441
Other industries
29,620
4,374
14,467
3,620
3,268
790
3,862
1,741
2,160
(D)
1,112
(D)
628
192
(D)
97
0
139
(DD)
( )
1,425
D
41
14
21
127
0
425
6
0
0
t
0
178
180
(*)
3
4
0
(D)
Agriculture
Forestry and fishing
Construction
Transportation
Communication and public utilities
Services
D
2,272
272
4,542
4,266
1,732
16,536
79
10
166
1,931
900
1,288
Suppressed to avoid disclosure of data of individual companies.
* Less than $500,000.
1. See footnote 1, table 6.
1,422
234
4,062
1,467
613
6,669
166
(D)
2,234
137
(D)
976
387
55
890
116
0
1,821
41
0
232
111
1
405
277
(D)
333
507
(D)
2,154
351
23
172
476
0
720
D
( )
1
(DD)
(:
915
454
13
7
(DD)
( )
560
D
( )
(D)
12
0
5,077
May 1987
SURVEY OF CURRENT BUSINESS
49
Table 12.—Employment arid Property, Plant, and Equipment of Nonbank U.S. Affiliates, 1984-85, by State
1985
1984
Millions of
dollars
Number of
employees
Gross book
value of
Land owned
plant, and
equipment1
Total
Millions of
dollars
Thousands of acres
Mineral
rights
owned and
leased
Number of
employees
Gross book
value of
property,
plant, and
equipment*
Thousands of acres
Land owned
Mineral
rights
owned and
leased
2,714,295
269,462
13,298
63,230
2,853,590
293,560
14,584
60,708
41,334
23,835
68,189
14,872
11,256
6,009
1,646
2,089
2,768
485
427
382
7
2,629
20
84
1
68
4
64
1
1
(*)
43,123
21,210
71,279
16,499
11,118
6,591
1,868
1,354
3,065
605
435
451
7
2,481
36
152
1
91
4
65
1
Mideast:
Delaware
District of ColumbiaMaryland
New Jersey
New York
Pennsylvania
37,385
5,306
48,126
140,769
222,343
149,622
2,533
900
2,556
8,242
13,193
8,365
14
(*)
50
43
329
330
7
1
35,167
5,627
49,235
153,350
239,255
150,155
2,790
1,095
3,140
9,328
15,253
8,600
13
(*)
55
44
462
421
Great Lakes:
Illinois
;
Indiana
Michigan
Ohio
Wisconsin
138,595
50,932
76,609
129,578
8,147
2,392
5,972
7,707
162
36
262
156
90
439
348
1,460
692
144,312
54,759
81,734
137,877
63,226
9,119
2,738
6,192
8,660
3,214
249
45
257
216
96
409
310
2,111
664
Plains:
Iowa
Kansas
Minnesota
Missouri.
Nebraska
North Dakota
South Dakota
17,999
14,274
35,456
44,077
7,132
3,219
1,603
1,184
1,101
4,001
2,639
374
1,385
374
(D)
66
348
93
76
49
18
1,121
143
152
2,191
1,775
332
18,419
14,443
35,450
45,630
7,571
2,774
1,777
1,401
1,199
4,249
3,027
443
1,389
390
43
65
423
94
75
49
19
, (*)
1,158
53
151
1,367
1,374
161
Southeast:
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
33,790
18,841
87,742
97,746
31,154
50,821
14,086
105,707
65,242
63,202
67,421
33,479
3,733
994
8,987
6,850
3,386
10,243
1,973
6,614
5,586
4,465
4,731
5,416
609
95
585
756
111
181
294
168
227
143
136
159
844
1,172
1,184
76
823
1,357
1,282
29,693
18,283
95,188
106,999
36,034
50,589
15,906
116,173
66,477
69,405
32,711
2,984
1,069
9,702
8,048
3,880
12,938
2,312
7,598
5,937
4,621
5,103
5,688
93
570
538
157
695
412
197
218
138
171
432
706
1,144
1,125
85
525
1,166
1,346
19
20
711
391
1,787
Southwest:
Arizona
New Mexico
Oklahoma
Texas
30,228
10,597
27,867
199,245
3,718
1,649
4,568
34,870
232
574
959
1,153
1,288
1,911
7,081
10,959
26,967
212,159
3,700
1,876
4,835
37,883
213
613
31
985
965
2,639
1,944
6,002
30,697
4,145
3,314
12,205
3,324
1,779
2,450
374
181
374
131
110
3,207
1,260
4,257
2,196
2,435
31,068
2,806
2,993
10,336
3,135
4,561
351
1,870
2,647
2,444
24
366
107
108
3,114
980
3,460
2,222
2,687
274,424
6,647
15,544
32,555
31,517
880
1,155
2,969
824
313
362
324
1,794
2,622
1,416
1,793
299,267
7,556
18,746
35,138
34,704
1,083
1,747
3,668
789
281
1,372
2,325
1,239
7,227
16,548
9,755
3,376
2,810
13,484
1,691
465
13,735
2,418
27
51
2
2
0
1,784
0
C*)
8,359
0
7,380
18,511
10,014
3,671
2,203
14,514
1,771
505
13,473
2,044
26
50
2
1
0
1,706
(*)
(-*)
9,204
0
New England:
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
Rocky Mountains:
Colorado
Idaho
Montana
Utah
Wyoming
Far West:
California
Nevada
Oregon
Washington
Alaska
Hawaii
Puerto Rico
Other U.S.
areas 2
Foreign3
D
Suppressed to avoid disclosure of data of individual companies.
* Less than 500 acres.
1. Equals the gross book value of land, mineral rights, and all other property, plant, and equipment wherever carried in the balance sheet.
2. See footnote 1, table 3.
3. For employment, consists of employees of U.S. affiliates working abroad. For assets, consists
primarily of movable fixed assets temporarily located outside the United States and any foreign
assets, including mineral rights, carried directly on the U.S. affiliates' books.
(D)
(D);
10
148
1,406
(D)
29
1,015
494
1,720
* 6
139
1,244
50
May 1987
SURVEY OF CURRENT BUSINESS
Table 13.—Employment of Nonbank U.S. Affiliates, 1984, State by Country of Ultimate Beneficial Owner
[Number of employees]
Europe
All
countries
Total
Of which—
Canada
Total
France
Germany Netherlands
Japan
SwitzerUnited
land
Kingdom
Australia,
New
Latin
Zealand,
America
and
South
Africa
Middle
East
Other
Africa,
Asia,
and
Pacific
United
States
Addendum —
OPEC 1
2,714,295
507,135
1,735,631
173,084
379,522
232,181
587,050
180,632
189,987
62,999
114,730
43,975
25,008
34,830
36,935
41,334
23,835
68,189
14,872
11,256
6,009
3,970
12,410
9,594
3,208
(D)
2,126
33,864
9,286
46,484
8,529
9,130
3,517
3,935
116
1,511
872
1,096
273
6,452
666
12,289
1,434
1,337
380
3,546
1,585
3,736
710
866
(D)
13,341
5,436
19,068
3,943
3,642
274
2,232
(D)
3,925
476
756
866
910
117
1,935
645
162
: (°)
624
(D)
2,039
(DD)
(D)
( )
1,107
(D)
2,618
""•'." (DD)
( )
191
205
27
1,668
0
(D)
0
117
0
676
0
40
0
537
(D)
3,175
(D)
(D)
(D)
(D)
27
1,180
0
(D)
, 3
Mideast:
Delaware....
District of Columbia
Maryland
New Jersey
New York
Pennsylvania
37,385
5,306
48,126
140,769
222,343
149,622
(D)
1,201
12,164
13,780
29,843
27,688
8,513
3,392
31,955
106,508
149,585
105,519
932
124
5,368
8,683
8,481
15,037
1,404
880
7,425
26,944
23,312
28,836
45
96
4,890
10,257
12,014
6,716
5,653
1,045
8,067
27,038
62,755
39,177
(D)
341
2,968
19,976
18,730
7,601
72
85
2,614
12,332
13,264
5,447,
(D)
24
448
3,271
6,585
1,789
(D)
54
472
1,594
6,658
7,410
(D)
161
125
728
7,646
690
(DD)
( )
147
1,634
2,882
207
(DD)
( )
201
922
5,880
872
2
155
99
632
7,082
374
Great Lakes:
Illinois
Indiana
Michigan
Ohio
Wisconsin
138,595
50,932
76,609
129,578
66,036
21,297
10,440
17,433
14,790
14,878
93,762
35,483
46,932
87,125
48,500
5,120
2,673
10,559
11,431
11,563
18,229
7,608
12,681
12,163
9,032
9,033
10,227
3,111
7,678
4,308
37,941
9,418
15,154
35,704
16,788
13,579
2,235
2,030
12,140
4,155
13,675
3,419
9,246
6,645
517
3,785
672
939
(D)
1,061
2,622
437
783
12,397
40
1,546
564
(DD)
( D)
( )
1,344
290
876
1,849
(D)
1,164
111
(D)
638
(D)
Plains:
Iowa.
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota....
17,999
14,274
35,456
44,077
7,132
3,219
1,603
6,715
2,448
11,883
12,038
554
1,064
543
9,689
11,182
21,370
28,118
5,730
1,713
740
707
1,858
1,892
945
768
46
16
3,314
2,485
5,105
5,996
1,159
1,145
110
2,098
1,652
. 2,185
4,207
337
200
(D)
1,636
2,857
7,855
8,712
2,240
204
472
1,317
875
3,017
3,519
1,140
111
36
464
240
1,272
1,718
245
4
. (D)
(DD)
( )
277
312
(D)
109
(D)
(D)
179
99
433
21
(D)
. . . (D)
(D)
24
228
283
(DD)
( )
0
146
(DD)
()
791
0
0
0
(DD)
()
(D)
384
(D)
135
0
0
(D)
217
242
(D)
Southeast:
Alabama ...
Arkansas..
Florida....
Georgia
Kentucky
Louisiana .
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
33,790
18,841
87,742
97,746
31,154
50,821
14,086
105,707
65,242
63,202
67,421
33,479
9,142
3,641
14,760
20,007
6,670
8,104
3,325
23,086
7,686
11,551
19,033
15,133
20,215
11,226
58,102
60,056
19,090
32,925
8,369
73,706
46^801
40,711
40,203
14,982
3,816
1,511
5,491
4,203
3,362
1,131
879
3,569
7,505
4,337
2,414
124
2,908
1,061
10,196
11,268
3,597
7,314
1,167
18,043
13,793
3,668
11,604
4,277
1,196
3,222
5,147
8,558
3,221
10,864
904
7,923
9,591
13,163
2,348
4,394
9,630
4,578
22,369
19,813
6,529
8,282
3,557
22,024
7,463
8,981
14,679
4,337
2,180
416
6,930
4,458
1,029
2,105
1,173
6,995
4,287
6,481
2,572
522
(D)
1,044
374
879
3,300
515
281
(DD)
( )
293
995
633
(D)
1,283
429
7,287
3,800
(D)
6,801
1,442
2,179
(D)
1,901
5,449
(D)
169
(D)
1,700
2,115
733
1,732
130
897
2,909
575
61
(D)
(D)
(D)
3,001
6,689
1,978
469
383
2,541
2,112
5,708
1,559
227
(D)
2
(D)
72
D
(D)
( )
0
1,079
1,535
602
(DD)
( )
1,294
(D)
(DD)
( )
4
157
(D)
2,673
1,749
647
1,120
. (D)
798
2,907
(D)
28
• > - (D)
Southwest:
Arizona
New Mexico
Oklahoma
Texas
30,228
10,597
27,867
199,245
7,868
1,020
9,164
34,935
17,201
8,329
15,623
125,413
1,020
206
1,253
12,322
2,708
2,587
3,886
27,287
4,371
2,549
3,717
31,025
7,728
2,733
4,083
31,539
968
183
1,662
12,962
758
52
523
7,255
2,364
(D)
327
8,068
1,329
307
1,171
13,763
959
5,693
16
0
11
2,434
(DD)
( )
89
1,684
137
38
879
.4,359
30,697
4,145
3,314
12,205
3,324
7,214
598
1,290
(D)
1,093
19,717
2,383
1,099
8,456
1,717
3,205
146
101
520
729
3,894
183
349
1,003
210
1,387
284
(D)
2,043
216
7,756
1,322
383
3,489
438
1,721
349
53
752
94
837
50
34
179
(D)
856
(DD)
( )
294
(D)
820
(D)
36
197
475
772
(DD)
()
664
(D)
(DD)
(D)
( )
467
0
(D)
(D)
, 28
(D)
35
715
< ( DD )
( )
602
(D)
274,424
6,647
15,544
32,555
27,102
1,472
2,787
6,119
155,787
4,781
10,920
18,553
17,968
682
620
1,177
43,514
1,089
5,253
5,677
22,304
(D)
596
1,453
47,329
1,856
3,286
7,872
15,946
256
754
1,411
54,264
46
1,148
4,671
7,797
117
224
1,252
15,249
(DD)
(D)
( )
6,765
169
(DD)
( )
5,283
0
122
618
2,177
(DD)
( )
194
6,151
71
(D)
271
7,227
16,548
9,755
3,376
2,810
954
515
1,636
2
184
2^606
2,232
4,836
-., 725
2,241
24
(D)
367
(DD)
( )
(D)
57
769
(DD)
( )
(D)
85
(D)
0
(D)
(D)
1,593
2,156
72
(D)
4
109
969
2,473
9,820
2,172
950
84
(DD)
( )
0
0
0
751
807
315
(D)
0
0
0
349
(DD)
( )
(D)
2,651
0
870
(D)
New England:
Connecticut
Maine
Massachusetts.
New Hampshire
Rhode Island.
Vermont-
Rocky Mountains:
Colorado
Idaho
Montana
Utah
Wyoming
Far West:
California...:
Nevada
Oregon
Washington
Alaska
Hawaii
Puerto Rico
Other U.S.
areas 2
Foreign 3
D
Suppressed to avoid disclosure of data of individual comp
1. See footnote 1, table 6.
2. See footnote 1, table 3.
3. See footnote 2, table 3.
(D)
137
(D)
(D)
800
(D)
D
((D)
)
(D)
(D)
(D)
(D)
934
244
(D)
,,
(D)
0
0
(DD)
0
( )
113
447
0
(DD)
( ) i '.-(*)
SURVEY OF CURRENT BUSINESS
May 1987
51
Table 14.—Employment of Nonbank U.S. Affiliates, 1985, State by Country of Ultimate Beneficial Owner
[Number of employees]
Europe
All
countries
Of which —
Canada
Total
France
Germany
Japan
Nether- United
lands Kingdom
Switzerland
Australia,
New
Latin
Zealand,
America
and
South
Africa
Middle
East
Other
Africa,
Asia,
and
Pacific
United
States
Addendum —
OPEC 1
2,853,590
527,566
1,805,956
163,768
406,734
213,038
628,373
198,593
208,601
71,148
122,569
50,164
26,508
41,078
40,331
43,123
21,210
71,279
16,499
11,118
6,591
5,458
9,428
9,507
3,601
(D)
1,963
32,709
9,799
50,602
8,436
8,559
4,247
3,197
353
1,705
238
701
261
6,702
587
12,731
1,421
1,545
454
3,888
1,597
3,424
738
852
(D)
12,270
5,923
21,617
4,546
3,366
(D)
2,203
(D)
4,830
495
626
896
1,566
116
1,866
(D)
124
147
667
(D)
1,938
(DD)
(D)
( )
1,902
(D)
1,972
(D)
(D)
163
242
31
1,785
(D)
(D)
0
124
0
615
(D)
41
0
455
(D)
2,994
(Db )
()
(D)
(D)
31
1,214
(DD )
( )
3
Mideast:
Delaware
District of Columbia
Maryland .
New Jersey
New York
Pennsylvania
35,167
5,627
49,235
153,350
239,255
150,155
(D)
1,345
13,622
12,289
31,270
28,072
8,237
3,428
31,108
116,026
154,237
104,484
944
102
5,765
8,279
8,170
12,299
1,448
1,197
7,636
29,824
22,937
25,893
134
77
5,099
11,850
12,828
7,175
5,130
981
7,301
29,970
64,457
44,140
295
305
2,083
20,737
21,417
6,705
60
149
2,469
13,819
15,102
5,184
0
38
471
2,989
8,359
1,388
(D)
43
435
3,210
8,539
8,594
(D)
156
203
1,078
11,619
1,098
(D)
(D)
212
1,828
3,519
221
(DD)
( )
715
2,111
6,610
1,114
4
150
109
711
9,365
457
Great Lakes:
Illinois
Indiana
Michigan
Ohio
Wisconsin
144,312
54,759
81,734
137,877
63,226
23,605
12,897
17,562
16,363
15,930
94,640
36,554
49,663
90,402
44,483
5,218
2,329
10,608
12,917
7,865
18,280
8,188
13,256
12,917
9,400
8,054
10,054
2,230
5,853
4,350
40,224
9,895
17,290
37,611
15,437
13,894
2,448
2,174
12,683
4,396
14,421
3,514
9,607
7,713
471
3,538
829
1,159
5,550
1,023
2,009
423
2,605
14,548
80
2,072
(D)
223
721
(D)
600
(D)
238
432
111
3,427
326
677
2,148
(D)
1,337
137
(D)
542
(D)
18,419
14,443
35,450
45,630
7,571
2,774
1,777
7,325
2,626
11,838
12,662
749
1,117
645
9,664
11,117
21,410
29,409
6,235
1,318
814
642
1,896
1,464
929
842
114
22
3,154
2,373
4,236
7,589
1,088
631
31
1,623
1,813
2,059
4,878
450
199
129
2,255
2,667
8,730
9,181
2,744
272
558
1,395
872
2,835
3,393
1,041
95
53
437
224
1,240
1,543
176
5
(D)
(D)
• (D)
239
293
(D)
53
(D)
(D)
143
141
567
26
(D)
4
1
(D)
258
344
(D)
(D)
0
163
9
(DD)
(D )
( )
(DD)
( )
137
0
0
(D)
246
290
(DD)
( )
0
Southeast:
Alabama
Arkansas ....
Florida
Georgia
Kentucky
Louisiana
Mississippi . . .
North Carolina
South Carolina
Tennessee ....
Virginia
West Virginia
29,693
18,283
95,188
106,999
36,034
50,589
15,906
116,173
66,477
69,405
69,039
32,711
6,045
3,851
15,070
22,008
8,941
8,746
3,844
26,420
7,877
12,630
19,257
15,202
17,957
10,522
62,859
66,031
19,562
32,296
9,738
78,673
48,292
44,407
39,492
13,909
3,767
1,516
5,256
4,293
3,482
1,273
926
3,912
7,866
5,440
2,294
175
2,889
893
12,953
11,775
3,964
6,856
1,347
22,400
14,961
6,996
13,011
4,204
967
3,812
3,898
7,990
3,196
8,918
600
5,283
8,579
9,976
2,109
3,490
7,478
3,469
24,594
22,889
6,898
9,848
4,177
22,899
7,558
10,670
11,654
4,408
2,242
351
7,120
5,466
834
2,224
1,989
6,564
4,725
6,470
2,454
527
1,596
3,010
3,523
6,910
2,099
332
401
2,965
2,077
7,291
1,550
213
1,068
340
1,136
3,538
1,524
374
(D)
1,948
614
868
556
2,052
399
7,333
4,313
(D)
6,751
1,279
2,658
(D)
1,952
7,363
(D)
(D)
(D)
3,159
2,446
846
1,633
175
768
2,688
602
257
(D)
230
(D)
(D)
2
423
81
(D)
(D)
0
(D)
(D)
1,129
1,523
629
(DD)
()
2,318
(DD)
()
(D)
11
(D)
(D)
3,390
2,024
739
1,111
97
782
2,685
(D)
203
(D)
Southwest:
Arizona
New Mexico
Oklahoma .
Texas
3B,603
10,959
26,967
212,159
8,527
747
9,007
36,696
19,010
8,773
14,936
138,664
896
302
1,350
13,558
3,451
3,493
3,163
31,867
3,808
1,813
3,362
28,381
9,104
2,824
4,668
39,473
1,314
237
1,595
14,136
772
70
456
7,609
2,546
(D)
705
8,124
1,699
423
1,040
12,716
(D)
(D)
722
5,318
(D)
0
11
1,938
683
(D)
90
1,094
246
41
674
4,130
31,068
2,806
2,993
10,336
3,135
7,592
612
1,238
19,050
1,669
854
5,896
1,724
2,607
160
50
420
640
3,476
60
191
866
185
821
294
(DD)
( )
235
8,823
233
321
1,787
509
1,626
826
86
628
115
922
29
55
72
(D)
975
(DD)
( )
213
(D)
1,176
(D)
19
119
248
767
(DD)
( )
(D)
0
(D)
478
0
(DD)
( )
27
(D)
38
713
0
(DD)
( )
0
299,267
7,556
18,746
35,138
30,135
1,779
2,817
4,912
171,152
5,455
13,974
21,404
13,551
714
354
1,161
52,554
1,465
4,647
3,595
20,559
(D)
605
1,415
51,454
2,166
6,173
10,934
23,611
219
1,639
3,250
60,900
17
1,040
5,314
11,669
145
275
1,513
11,477
57
112
(D)
6,086
(D)
(D)
345
5,733
(D)
210
474
2,115
(DD)
(D)
( )
5,297
(DD)
( )
313
7,380
18,511
10,014
3,671
2,203
1,191
535
1,471
(D)
212
2,284
2,120
5,184
971
1,517
(D)
5
368
(D)
67
6
141
861
D
( )
(D)
(D)
93
(D)
0
(D)
(D)
1,639
2,357
160
297
(D)
153
1,020
(D)
199
2,588
11,450
1,986
965
152
(DD)
()
0
0
0
747
820
546
(D)
0
(D)
0
359
(DD)
( )
(D)
2,929
0
826
(D)
(DD)
( )
468
. . (DD)
( )
(D)
0
114
0
D
( )
Total..
New England:
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island....
Vermont
Plains:
Iowa
Kansas ... .
Minnesota
Missouri .
Nebraska
North Dakota
South Dakota
Rocky Mountains:
Colorado
Idaho
Montana
Utah.
Wyoming
Far West:
California
Nevada
Oregon
Washington
Alaska
Hawaii.
Puerto Rico
Other U.S.
areas 2
Foreign 3
(D)
1,078 ,
(D)
(DD)
( )
0
0
0
(DD)
()
979
(°)
(°)
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 6.
2. See footnote 1, table 3.
3. See footnote 2, table 3.
U.S. GOVEE^NMENT PRINTING OFFICE : 1987 - 182-993 : QL 3
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STATISTICAL TABLES
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The statistics here update series published in BUSINESS STATISTICS: 1984, a statistical supplement to the SURVEY OF CURRENT BUSINESS. That volume
(available from the Superintendent of Documents for $13.00, stock no. 003-010-00160-7) provides a description of each series, references to sources of
earlier figures, and historical data as follows: For all series, monthly or quarterly, 1981 through 1984, annually, 1961-84; for selected series, monthly or
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The sources of the series are given in BUSINESS STATISTICS: 1984; they appear in the main methodological note for each series, and are also listed
alphabetically on pages 143-144. Series originating in Government agencies are not copyrighted and may be reprinted freely. Series 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 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
1985
1987
1986
Annual
IT ..
units
Mar.
1986
May
Apr.
June
Aug.
July
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
GENERAL BUSINESS INDICATORS
PERSONAL INCOME BY SOURCE t
Seasonally adjusted, at annual rates:
Total personal income....
...
bil $
Wage and salary disbursements,
total
do
Commodity-producing industries,
total
do ....
Manufacturing
do
Distributive industries
do
Service industries
..
do
Govt. and gpvt. enterprises
do ....
Other labor income
do....
Proprietors' income: $
Farm
.
...
do
Nonfarm
.
do ....
Rental income of persons with capital
consumption adjustment
bil. $..
Dividends
;
do
Personal interest income
do....
Transfer payments... '':..
do ....
Less: Personal contributions for
social insurance
do ....
Total nonfarm income....
do....
DISPOSITION OF PERSONAL INCOME t
Seasonally adjusted, at annual rates:
Total personal income
bil. $ ..
Less: Personal tax and nontax
payments
:.....
do
Equals: Disposable personal income
do ....
Less: Personal outlays
do....
Personal consumption expenditures
do....
Durable goods..
.
do
Nondurable goods
do
Services
do ....
Interest paid by consumers to
business
.....
do
Personal transfer payments to
foreigners (net)
do....
Equals: personal saving
do
Personal saving as percentage of disposable
personal income §
percentDisposable personal income in constant (1982)
dollars
bil $
Personal consumption expenditures in
constant (1982) dollars
do
Durable goods
do
Nondurable goods.
do....
Services
do ....
Implicit price deflator for personal consumption
expenditures
.....index, 1982 = 100 ..
3,553.5 '3,599.7 '3,605.6
3,616.3
21287 '2 146 2 '2,153.3
2,160.6
34857
3 445 1
34868
34813
34819
3,490 8
3,497 9
35079
35178
3,523 3
3,542.7
19661
20735
2 051 8
20549
20584
20632
20720
20834
20880
21023
21117
2 115 3
607.7
460 1
4698
5164
372.2
196.9
623.2
471 2
4879
5667
395.7
2088
620.2
4705
4873
555 3
389.0
205.5
621.6
4689
4848
5577
390.8
206.4
621.6
4697
4839
5603
392.5
207.3
619.1
4678
484 1
5658
394.3
208.2
619.3
4681
4869
569.6
396.2
209.5
623.3
471 1
4882
573.4
398.5
210.4
622.7
4707
4899
5749
400.4
211.3
629.7
4773
491 5
5787
402.4
212.1
627.2
474 1
4959
584.2
404.5
213.0
628.1
4749
494 3
586.5
406.4
213.8
292
225.2
261
252.7
228
243.8
530
247.5
381
249.1
275
252.2
183
255.4
191
257.5
213
261.0
189
260.5
152
262.0
28.9
264.0
7.6
764
476.2
4871
15.0
812
475.0
5138
13.5
800
480.4
506.5
15.1
808
480.5
5079
16.6
-811
480.1
5107
17.1
81 5
479.8
5118
16.5
817
477.2
5203
16.1
821
473.7
5165
16.0
82 3
470.4
518.7
15.3
824
467.7
520.5
14.7
827
465.1
521.5
150.2
3,261.0
160.3
3,436.7
159.1
3,399.5
159.2
3,411.0
159.9
3,420.5
159.3
3,431.7
160.2
3,449.6
160.9
3,455.9
161.1
3,463T7
162.0
3,476.0
3,314.5
3,485.7
3,445.1
3,486.8
3,481.3
3,481.9
3,490.8
3,497.9
3,507.9
4865
2,828.0
2,684.7
2,600.5
3593
9051
1,336 1
514 1
2,971 6
2,857.4
2,762.5
3881
9327
14417
4973
2,947 8
2,798.0
2,705.9
3520
9361
1,417.8
5005
2,986 3
2,803 0
2,710.5
3685
9221
1,419 9
5039
29774
2,825 2
2,731.7
379 0
9266
14261
5099
29720
2,848 3
2,753.8
3742
9364
1 443 3
5139
2,976 9
2,861.9
2,766.7
3855
9323
1,448.8
5194
2,9785
2,884.4
2,788.6
4028
9349
1,450 9
5236
2,984.2
2,941.1
2,844.0
4552
9312
1,457.6
826
935
904
913
92 2
933
941
947
960
970
97.0
96.6
96.9
'96.8
'96.7
1.6
1433
14
114 2
1.7
1498
1.2
1833
1.2
1523
12
1237
1.2
1150
1.2
941
1.2
431
1.4
934
1.4
92.7
1.4
36.6
1.6
115.6
1.6
'99.4
1.6
'97.1
5.1
3.8
5.3
5.4
5.1
4.4
3.7
2.8
2.6
2.6
2.5
'2.7
2.8
'3.4
2.2
2 596 1 '2 589 4 '2,627 5
2,619.3
24796 '2 405 7 '2,458.2
'370.8
'344.4
403.6
'883.4
'866.4
878.6
1,197.4 1,194.9 1,204.0
2,452.7
368.8
878.9
1,205.1
631.9
4766
4959
590.0
410.8
214.6
'634.1
4791
'502 2
'596:8
413.1
215.4
'633.0
'478.1
'504.4
'600.7
415.1
216.2
633.4
477.5
506.7
603.4
417.1
218.9
18.7
265.8
36.7
'270.6
'30.2
'272.7
21.5
274.6
14.2
82.9
462.7
523.5
15.1
83.5
465.5
528.4
15.6
84.1
'467.9
'531.1
15.3
84.7
'470.6
'530.9
15.4
85.6
473.6
535.0
162.6
3,485.2
162.7
3,490.9
166.8
'3,511.8
168.3
167.9
3,538.9 '3,551.0
168.8
3,570.2
3,517.8
3,523.3
3,542.7 '3,553.5 '3,599.7 '3,605.6
3,616.3
5285
2,989.3
2,895.9
2,797.4
3968
9346
1,466.0
533.5
2,989.8
2,897.2
2,798.8
381.2
938.0
1,479.5
r
536.3
542.9
2,999.8 rr3,017.1
2,963.3 r2,901.6
2,865.2 2,803.1
r
364.9
431.4
r
946.4
947.6
1,486.1 1,491.8
618.9
2,997.5
2,993.2
2,895.0
400.8
974.0
1,520.2
1
r
'533.4
'529.5
'3,070.2 '3,072.2
'2,970.7 '2,975.0
'2,872.4 '2,876.8
'393.7
'395.2
'969.2
'969.4
1,507.8 1,513.9
96.6
1.6
4.3
25280
26020
26026
26399
26270
26105
26124
26062
25983
25969
25933
23245
3439
841.6
1,139.0
24187
3686
872.1
1,178.0
23890
338 4
878.8
1,171.8
2396 1
3530
873.8
1,169.3
24103
361 7
875.9
1,172.7
24189
3566
882.2
1,180.1
24279
3663
878.5
1,183.1
24400
381 0
878.5
1,180.5
24762
4274
869.4
1,179.3
24302
3758
872.6
1,181.9
24276
362.0
874.1
1,191.5
111.9
114.2
113.3
113.1
113.3
113.8
114.0
114.3
114.9
115.1
115.3
115.6
116.5
116.8
117.3
1238
1251
1231
123.8
123.2
126.9
123.3
127.6
129.1
128.0
125.4
122.4
123.0
126.8
"126.5
125.2
110.0
126.4
125.1
1273
103.4
129.1
130.9
127.9
104.5
126.6
125.4
127.5
101.1
128.1
127.9
128.2
98.5
127.9
128.8
127.2
102.1
131.6
134.7
129.3
102.1
127.3
131.5
124.3
103.8
132.3
137.7
128.3
101.9
134.0
138.1
131.2
99.1
133.4
137.0
130.8
101.4
130.0
132.3
128.4
102.4
126.2
127.9
125.0
104.6
130.9
, 131.8
130.3
"99.4
"131.3
"132.1
"130.6
'97.8
130.4
132.3
129.0
do
1238
1251
123.6
124.7
124.2
124.2
124.9
125.1
124.9
125.3
126.0
126.7
127.1
"126.8
126.3
do...
do ...
do...
130.8
131.1
120.2
133.2
132.3
124.5
131.2
130.6
121.8
132.7
132.1
124.5
132.4
131.6
124.3
132.4
131.1
124.4
133.2
132.0
125.2
133.8
132.6
125.1
133.3
132.2
124.2
134.0
132.7
124.7
134.5
133.1
125.6
135.0
133.7
127.2
"135.6
"134.4
"127.0
134.9
133.5
125.9
INDUSTRIAL PRODUCTION <>
Federal Reserve Board Index of Quantity Output
Not Seasonally Adjusted
Total index
1977-100
By industry groupings:
/
Mining and utilities
do...
Manufacturing
........do...
Nondurable manufactures.....
do...
Durable manufactures
.
do
Seasonally Adjusted
Total index
By market groupings:
Products, total
Final products...
Consumer goods
r
3 314 5
104.6
126.2
127.2
125.5
126.5
134.9
133.6
126.8
136.0
135.0
127.5
See footnotes at end of tables.
S-l
182-993 - 87 - SI QL 3
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
,, -t
unils
1985
May 1987
1987
1986
Annual
Mar.
1986
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
118.3
115.0
111.5
'91.8
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION <>—Continued
Seasonally Adjusted— Continued
By market groupings—Continued
Final products—Continued
Durable consumer goods
1977=100...
Automotive products....
do ....
Autos and trucks, consumer do....
Autos, consumer
do ....
Home goods
Nondurable consumer goods
Consumer staples
Consumer foods and
tobacco.....
Nonfood staples
Equipment
Business and
defense
equipment
Business equipment
Construction, mining,
115.7
114.5
110.4
87.8
1524
116.7
128.6
135.5
117.4
117.0
116.8
96.2
155 1
117.7
126.7
133.6
116.3
112.7
107.7
91.9
137 1
119.0
127.8
134.4
118.4
114.6
107.6
92.3
136 0
121.2
128.3
135.0
121.5
117.7
115.6
99.5
145 6
124.4
129.4
136.0
120.0
117.6
117.9
94.3
161 9
121.9
129.2
135.9
122.3
123.3
125.2
105.3
1621
121.6
129.4
136.0
"121.3
"121.3
"121.6
"100.9
"1599
"121.3
"129.1
"135.8
128.8
129.2
1454
131.9
136.5
1427
130.3
133.0
142.3
131.9
136.7
142.3
132.4
137.7
141.2
133.3
137.0
140.0
132.2
138.5
141.0
133.2
137.9
142.5
131.0
136.3
142.8
131.6
137.2
143.3
132.6
137.4
143.1
133.9
138.2
142.2
132.9
139.0
142.8
133.7
138.4
144.9
"133.6
"138.1
"144.2
138.2
143.6
146.0
139.6
147.1
138.6
145.5
137.7
146.6
138.6
146.0
137.9
145.1
136.6
146.4
137.9
147.8
139.3
148.0
139.3
148.4
139.1
148.1
138.6
147.0
137.1
147.7
138.1
150.0
140.7
"149.2
"139.6
148.7
139.0
643
110.7
835
217.9
105.4
170.6
130.0
118.3
1400
1142
121.4
112.2
103.4
599
111.9
81:6
214.6
109.2
180.3
136.4
124.7
146 4
1139
119.7
118.3
99.9
595
112.4
82.0
214.3
104.3
176.2
133.3
122.6
1425
113.3
119.3
114.8
101.4
586
111.9
83.0
213.4
112.1
178.0
134.5
123.6
1438
1138
120.2
116.5
100.4
609
111.9
82.9
212.9
107.3
178.0
135.1
123.5
1450
113.0
118.4
116.5
100.5
61.9
111.7
83.5
208.2
108.8
178.4
137.0
124.1
147.9
113.1
117.8
117.7
100.8
606
112.6
81.7
214.5
103.9
179.5
137.3
124.0
148.6
113.6
118.8
118.9
99.9
58.3
113.3
81.7
217.5
106.9
181.0
137.8
125.4
148.4
113.2
118.8
119.7
97.9
58.1
113.0
80.3
215.1
113.3
182.0
137.0
125.9
146.4
113.5
118.9
120.6
98.0
58.0
112.7
80.5
215.4
111.8
184.6
138.7
126.3
149.3
113.3
119.2
120.3
96.9
56.6
109.6
79.5
217.3
110.7
184.9
139.2
126.8
149.7
114.3
120.4
120.2
98.7
58.2
108.8
80.2
213.7
108.9
185.8
139.7
127.9
149.8
115.2
120.7
123.2
98.8
r
57.2
110.1
'79.6
r
215.9
109.5
185.2
139.1
128.3
148.3
115.2
120.5
123.2
r
98.9
'56.8
111.1
r
80.1
r
218.6
117.4
186.5
139.3
127.9
149.1
115.0
121.3
122.8
r
97.2
"57.0
"110.0
"79.1
"218.0
"114.0
"186.7
"139.7
"128.1
"149.6
"114.8
"121.0
"123.1
"96.9
1100
108.8
750
1268
106.2
108 1
857
118.3
111.9
1197
126.4
125.1
1302
100 2
103 2
1009
1276
153.9
127.1
86.8
146.9
68 5
1273
113 4
139.7
115.5
805
704
99.7
107.3
145.3
1684
121.4
111.5
139.1
103.4
99.6
718
1242
94.7
1057
84 1
113.7
109.7
122.2
129.1
130.9
1336
96 4
1132
1035
1364
163.4
133.0
92.1
153.4
61 3
1279
123 4
1468
120.2
758
634
99.0
107.4
141.9
1665
125.8
110.9
141.4
105.4
103.0
759
1247
99.2
1082
854
111.6
109.3
119.8
127.2
127.7
1322
93 6
1080
1028
1324
157.8
130.2
88.6
147.8
627
1268
1207
142.9
120.0
763
643
98.8
107.6
141.7
1652
122.6
108.1
142.0
104.2
101.0
760
1244
96.2
1068
839
115.0
109.4
121.6
128.7
129.6
1331
100 3
111 4
1031
134 1
161.6
132.8
91.3
146.8
61 5
128 1
121 3
1459
121.6
78 1
656
1016
108.2
140.8
1668
126.2
112.6
142.4
103.1
99.8
720
124.0
95.1
1075
853
112.4
108.5
121.7
128.2
129.9
1337
101 6
1113
1026
1332
161.9
131.5
95.7
150.1
59 5
1270
121 6
1462
120.2
748
602
102.3
106.5
141.3
1660
124.1
108.7
140.3
102.6
98.9
65.9
127.3
93.3
1064
844
114.5
108.6
123.1
128.3
131.2
134.6
97 6
1126
1017
1372
164.0
134.2
91.8
152.2
57 9
1262
120 9
147.1
120.8
714
583
96.3
106.6
140.4
163 2
125.1
110.6
139.9
101.8
97.1
69.2
120.2
92.4
1066
829
111.8
109.7
125.4
129.2
131.7
1343
97 9
1134
1025
1381
165.4
134.1
90.6
155.5
61 9
127 4
120 8
149.5
119.6
736
617
95.9
105.7
142.6
1668
125.6
111.2
141.7
100.9
96.4
70.9
122.2
90.7
1041
814
114.8
108.3
122.4
129.5
132.2
135.1
97 1
1147
1025
138.6
164.6
134.4
94.0
155.5
620
1275
122 5
148.3
119.7
734
608
97.3
105.9
142.6
1672
125.1
108.2
142.0
100.8
96.2
70.7
120.8
91.0
1051
821
111.7
108.3
122.8
129.5
131.4
134.3
898
1160
1027
136.9
163.0
133.9
93.3
154.9
59 4
1281
125 0
147.7
121.6
74 1
61
98.6
107.3
140.9
1669
127.7
112.2
141.7
100.7
95.6
68.5
117.6
90.5
1039
82.1
116.4
109.3
123.8
129.9
132.3
133.7
100 1
116.1
104.2
137.8
167.8
133.9
91.1
157.6
602
128.1
1259
149.2
118.1
742
622
96.8
108.3
142.2
1677
125.2
107.1
140.3
102.6
97.4
68.3
130.1
90.4
102.0
82.4
115.2
111.2
125.1
130.3
132.7
134.4
968
117.8
105.1
139.5
168.5
132.3
92.0
159.0
613
128.6
1295
148.6
120.6
76.8
648
99.5
107.1
141.2
168.3
125.6
107.9
141.1
101.9
96.7
73.5
124.3
90.9
101.4
87.6
109.6
110.6
123.5
131.1
133.7
135.3
929
118.4
106.4
141.6
167.7
134.6
92.5
160.7
594
129.2
1331
150.5
121.7
73.5
605
98.1
108.3
139.9
170.2
127.0
111.2
142.4
101.9
'97.2
72.1
133.5
'89.9
r
98.4
87.8
107.1
109.5
121.7
131.1
134.1
135.3
r
891
118.0
107.2
139.8
168.1
137.4
'94.7
158.1
r
583
129.0
1302
148.7
122.8
'73.6
60.2
r
98.8
108.0
140.3
169.2
128.1
112.2
142.5
100.9
'95.6
71.9
127.7
'88.6
'97.2
81.9
109.9
109.8
122.3
132.0
134.3
135.4
98.7
118.7
108.2
140.5
166.6
138.0
'91.9
158.4
'597
130.3
1299
151.2
121.0
76.3
'63.1
101.1
107.5
142.7
168.6
131.7
117.8
143.0
"100.7
"95.0
101.0
'95.2
"121.8
"89.0
"98.3
121.2
'89.5
do ....
do....
do
do
do
do ....
..do ....
.........do....
do ....
do
Furniture and fixtures
Clay, glass, and stone products..
Primary metals
do...
....do ...
do
Nonferrous metals
Fabricated metal products
Nonelectrical machinery
Electrical machinery
Transportation equipment.....
Motor vehicles and parts..
Instruments
do ...
do...
.....do ...
do
do ..
do..
do..
116.3
116.4
114.5
95.3
150 3
116.3
128.4
135.3
do....
do ....
do
Textile mill products
Apparel products
Paper and products
Printing and publishing.....
Chemicals and products...
Petroleum products
Rubber and plastics products
See footnotes at end of tables.
114.3
113.7
112.2
99.3
136 1
114.8
128.1
135.1
112.2
122.9
1290
do ....
do ....
do .
do ....
do ....
do
Retail trade total
Durable goods stores
Nondurable goods stores
Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishments
Mfg. and trade sales in constant (1982)
dollars (seas, adj.), total §
Manufacturing
Retail trade
Merchant wholesalers
.
113.8
113.2
110.3
94.8
139 1
114.3
128.1
135.0
..do....
do ....
do
Stone and earth minerals
Utilities
Electric
Manufacturing
Nondurable manufactures
Foods .
....
BUSINESS SALES
Mfg and trade sales (unadj ) total $
Mfg. and trade sales (seas, adj.),
total $
Manufacturing total
Durable goods industries
115.9
116.4
115.1
100.8
141 5
115.5
127.7
1343
116.2
115.1
112.9
97.3
Manufacturing
do ....
Power
do
Commercial
do....
Transit
do...
Defense and space equipment
do....
Intermediate products
do....
Construction supplies
do ....
Business supplies
do
Materials
do
Durable goods materials
do....
Nondurable goods materials
, do....
Energy materials
do ....
By industry groupings:
Mining and utilities
do
Mining...
do...
Metal mining
do
Coal
do
Oil and gas extraction #
...do ....
Crude oil
do
Durable manufactures
117.1
127.5
1342
112.4
110.4
106.3
93.7
129 6
113.9
125.3
131.6
112,9
114.0
112.0
98.9
1 no n
mil $
-I A-l Q
5 033 505 5 109 020
423 502 422 362 430 162 436410 409 679 421 809 445 147 443 804
1
5 033 505 1 5 109 020 r415 705
1
2 279 132 1 2 273 298 185 50
1 187 165 1 201 704 r97 729
1 091 967 1 071 594 '87 772
do 1 1 379 62 1 1 454 411 117
259
do
51798
568057 r4371
do
861 640 886 354 '73 547
do .. rl 1,373,92 '1,381,31 112,94
do..
664,108 '53,23
'626,74
r
717 20
'747 17
do
5971
do
do
do
bil $
do
do
do
415.
185
114
115
r
422 405
189 240
100 834
88406
118 387
'45 322
r
73 065
114,778
55,74
59037
424.
192
115
116
417 324
187 162
98484
88678
119 613
46047
73566
110,549
53,932
56617
417.4
1894
1160
1120
421 933 421 137 423 559
189 022 186 152 186 977
99514 98 065
9961
86638 88912
8941
119 679 12054 122 156
46008 46604 48245
73937 73911
7367
113,232 114,444 114,426
54,78
55,697 54,747
58747 59679
5844
420.
188
116
114.
423.0
1900
116
117
426.5
1902
118
118
423 305 464 583
437 895
190 805
10088
89924
128 952
55010
73942
118,138
56,998
61 140
430 012
190 403
101 528
88875
122 12
47800
74 321
117,488
57,102
6038
429 944
190 532
100,218
90314
121 678
47408
74270
117,734
56,758
6097
438.
191
1247
122
427.4
191
1160
120
428.4
1928
115 6
120
"118.5
"106.5
"139.4
"168.1
"138.5
"90.5
"159.1
"59.1
"129.9
"1302
"152.8
"120.9
"77.0
"64.7
"100.3
"108.0
"142.3
"166.7
"130.6
"115.5
"142.0
391 606 '414,705 456,852
443 766 425 080
197 707 189,956
106739 99,318
90638
90968
127 613 118579
43,766
52579
74,813
75034
118,446 116,545
55,893
57,833
60 652
60 613
441.3
1989
121 8
1207
"111.6
"110.2
"122.7
"131.7
"134.3
"135.6
r
422.6
191 3
1125
1188
'443,169
195,608
'103,601
'92 007
124 280
'47,365
'76,915
123,281
'59,344
'63 937
446,666
197,527
104,889
92638
125 225
48,336
76,889
123,914
59,636
64 278
'439.1
1963
1175
1253
439.9
1962
1180
1257
120.7
128.7
135.5
109.9
'78.8
'218.8
109.3
186.6
139.5
127.9
114.7
120.7
122.8
'97.1
110.5
131.1
134.3
169.0
'92.0
128.9
'77".8
107.0
142.7
166.2
126.4
108.9
141.5
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
S-3
SURVEY OF CURRENT BUSINESS
May 1987
Annual
.,
IT
ljniw
1985
1987
1986
1986
Mar.
Apr.
June
May
July
Sept.
Aug.
Oct.
Nov.
Jan.
Dec.
Apr.
Mar.
Feb.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS INVENTORIES
Mfg. and trade inventories, book value
(non-LIFO basis), end of period,
(unadjusted), total $
mil. $..
Mfg. and trade inventories, book value
(non-LIFO basis), end of period,
(seas, adj.), total $
.
mil $
Manufacturing total
do
Durable goods industries
do
Nondurable goods industries
do
Retail trade, total
do
Durable goods stores
do
Nondurable goods stores
do
Merchant wholesalers total
do
Durable goods establishments
do
Nondurable goods establishments
do
Mfg. and trade inventories in constant (1982)
dollars end of period(seas adj ) total § bil $
Manufacturing
do
Retail trade
.
do
Merchant wholesalers
do
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, total $... .
ratio
Manufacturing total
do
Durable goods industries
do
Materials and supplies
do
Work in process •
do
Finished goods '
.
do
Nondurable goods industries
do .
Materials and supplies
do
Work in process
do
Finished goods
do
Retail trade, total
do
Durable goods stores
do
Nondurable goods stores
do
Merchant wholesalers total
do
Durable goods establishments
do
Nondurable goods establishments
do ....
Manufacturing and trade in constant (1982)
dollars, total §
do
Manufacturing
do
Retail trade
do
Merchant wholesalers
do ....
642,031
643,308
650 695
326 780
213 750
113 030
165 514
r
83 071
r
82 443
135
833
r
87 421
r
48 412
652 705
318 172
207 935
110 237
187 158
94935
92223
147 375
95710
51 665
658,419
661,051
r
655 393
323 415
r
212 697 212 319
111 077 111 096
184 613 186 017
r
95788
94 951
r
90229
89 662
145
518 145 961
r
95230
94 295
r
50 731
51 223
653 905
323 774
r
6459
3239
6479
3247
172 1
1500
173 1
1501
157
155
651,113
665,568
653 317 654 088 656 982
322 399 321 273 321 197
212 012 211 035 210 685
110 387 110*238 110 512
184 906 185 686 187 935
94711 95681 98008
89 927
90005
90 195
146 012 147 129 147 850
96680
95 865
95646
51 170
51 264
50366
655 415
319 882
209 885
109 997
187 483
97387
90096
148 050
96883
51 167
652 978
318 345
209 438
108 907
186 034
94337
91697
148599
97216
51 383
656 619 656 189 652 705
318 220 318 721 318 172
209 170 209 373 207 935
109 050 109 348 110 237
190 645 189264 187 158
97 041 94935
97810
92223
92223
92835
147 754 148 204 147 375
95710
97652
96845
51665
50552
50909
6844
3249
6470
3233
6435
3225
1710
1525
1703
1534
1678
1532
117
166
76
127
173
85
177
86
1 56
174
1 51
130
2 11
1 23
1 27
1 71
See footnotes at end of tables.
do ....
11 295
r
5930
153
202
1 44
1 71
1 24
1 26
55
r 20
r 57
155
206
1 23
1 32
1 53
1 55
1 71
1 51
148
134
10 987
r
6,059
r
!9
r
2 10
99
11 414
r
6,047
60
r
98
r
54
130
175
88
r
172
147
132
99
96
r
52
121
54
r
56
156
205
125
126
170
84
r 55
1 22
1 29
171
84
177
86
153
171
148
130
1 54
r 59
r
124
122
129
174
87
1 22
10421
r
6,136
r
58
156
57
155
208
208
r 61
49
47
MANUFACTURERS' SHIPMENTS,
INVENTORIES, AND ORDERS t
Shipments (not seas adj ) total
mil $ r2 279 132 r2 273 298 194 457 190 018 188 973 r200654
Durable goods industries, total
do
1 187 165
1r 201 704 103 879 102465 100 547 108 060
r
r
r
r
r
Stone, clay, and glass products ..
do
56 787
55 065
4662
5 136
4885
4 979
r
r
r
r
Primary metals
do.... 110 301 101 733
8840
9236
8925
9223
r
r
r
r
r
r
48,137
Blast furnaces, steel mills
do....
3807
3920
3881
42 830
-3 774
Fabricated metal products
do .... 139,580 135,974 11 492 11 734 11 640 12 194
r
215 084 r205 804 18 958 17612 16 896 19 573
Machinery, except electrical
.
do
192 733 r205 613 17 779 16 213 16 188 18 256
Electrical machinery
do
r
Transportation equipment
do
301 383 r314 081 r26 153 r27 545 r26845 r27'680
Motor vehicles and parts
do.... 188,534 194,725 16 484 17 946 17 103 17*301
r
r
r
r
r
Instruments and related products
do....
61,009
5,224
60,860
5,428
'4,940
4,809
Nondurable goods industries, total
do .... 1,091,967 1,071,594 '90,578 r87,553 r88,426 '92,594
r
r
r
r
r
r
Food and kindred products
do.... 301,557 314,500
25 892 24 853 25 910 26
917
Tobacco products
..
do
18
507
1 755 1 308 1 591 rr2 105
18
016
r
r
r
r
r
Textile mill products
do
53 275
4 845
4741
54 607
4355
4 466
r
r
r
r
r
Paper and allied products
do....
93,413 103,834
8484
8944
8521
8400
Chemical and allied products
do.... 197,314 198,348 17175 17 460 16 533 17,087
Petroleum and coal products
- do
179
134 129 320 11 166 10 923 11 441 10 612
r
r
r
r
r
r
Rubber and plastics products
do
71 323
6536
6 106
6 148
5 990
72 170
Shipments (seas, adj.), total
do ..
185 501 189 240 187 162 189 022
By industry group:
r
Durable goods industries, total #
do
611
97
729 100 834 r98 484 r99
r
r
r
r
Stone, clay^ and glass products
do ....
4694
4660
4693
4815
r
r
r
r
Primary metals
do ....
8,604
8,272
8520
8728
r
r
r
r
Blast furnaces, steel mills
do
3646
35l2
3 592
3688
Fabricated metal products
do
11 045 11 618 11 337 11 363
Machinery, except electrical
do
17 337 17 704 16 761 17 354
Electrical machinery
do
16 564 16 584 16 886
16593
r
Transportation equipment
do
24 581 r26 395 r25670 r25 868
Motor vehicles and parts
do
15 090 16 677 15*763 15 797
Instruments and related
r
r
r
r
5029
products
do
4977
4966
4 968
r
Nondurable goods industries, total #
do....
87,772 r88,406 rr88,678 rr89,411
r
r
Food and kindred products
do
103
24 952 25 532 25 926 26
Tobacco products
do
1 591 r2 105
1308
1755
r
r
r
r
Textile mill products
do
4492
4*320
4'510
4331
r
r
r
r
8505
Paper and allied products
do
8475
8333
8163
Chemicals and allied products
do
16 053 16 979 16264 16,027
Rubber and plastics products
r 47
r 19
r 55
r 47
r 19
r
177
89
129
r 47
r 19
r 48
r 19
r 57
2 15
86
169
r 47
r
20
r
r 48
124
r
48
2 17
1 22
1 29
206
r
58
r
95
r
52
123
r
!9
r
r
1 22
1 61
1.28
r
r
1 84
1 13
147
1 67
1.23
r
r 61
58
157
153
1 67
1 71
2 14
r 60
r 97
r
153
1 67
155
1 73
2r 12
r 62
58
157
r
149
156
170
212
r
61
r
98
r
53
49
86
43
123
39
15
47
153
201
r 20
641 1
3217
1673
152.1
1.55
1 71
2 11
r
20
r
3219
1699
1520
157
172
1 75
2 18
r 48
6438
3217
1709
1519
3241
1710
151 1
1 69
2 10
127
6446
6463
324 1
171 3
1498
153
53
126
652,544
6453
1 50
1 94
1 00
T
55
643,308
649,368
138
53
87
45
102
39
16
47
140
666,333
652,610
655,260
1 52
1 44
130
r
r
6464
3234
1701
152.9
1.55
1 69
r
662,813
319 590
207 752
111 891 111 838
190 527 193,723
r
99,819
97,831
r
93,904
92,696
r
!49 408 149 500
r
96971
96 594
r
52,529
52 814
660 470
320 535
208 644
r
r
6465
3225
170.9
153.0
6483
321.5
174.3
152.5
1.49
1.48
164
162
198
56
90
.51
r
209
r
59
r
96
r
54
211
60
96
54
1.21
1.21
1.23
1.22
r
47
20
56
55
147
1.59
201
57
92
52
47
19
55
r
1.53
1 81
1 23
221
1 24
126
172
83
124
165
85
128
1.74
.86
1.63
r
.83
1 50
1 45
153
169
147
164
146
1 23
162
137
126
1.51
1.29
207
121
121
1.22
172 672 184 880 r200 931 194 974 188 788 190 978 174 649 197 198
r
104 532
667 r89,625
244 r99 314 102
90 221 r95 026 105 774 104
r
r
r
r
r
r
r
r
4,806
4,297
4149
4666
5054
4623
5165
4852
r
r
r
r
r
r
r
r
8,694
7,647
7,442
7798
8488
8470
7644
7983
r
r
r
r
r
r
r
r
3,634
3,240
3,108
3,139
3,457
3414
3391
3199
10,634 11 272 12,003 11,941 10,834 10,255 10,030 11,657
15 525 15 356 17 819 16 593 16 530 19 286 14,076 16,442
890
586 17
15
229 17 048 19 094 17 955 18 414 18 684 15
r
r
r
22 512 r22 965 r26 745 r27 841 r26 020 r28 206 24 426 29 281
15,476 15,424 16,322 19,635
12*843 13 748 16*904 17,342
r
r
r
r
5,075
'4,439
'5,382
'5,126
5,356
4,710
5,343
'4,984
r
r
89,474 r88,311 r85,024 '92,666
89,854 '95,157 '90,730
'82,451
r
r
r
r
r
r
r
r
25,019 27,005
25 307 26 449 28,600 27,534 26,911 26,804
r
1,304
782
544 rr2095
1 165 1 416 1 637 1 181 1
r
r
r
r
r
r
r
4,604
3,926
4395
4548
4973
3931
5058
4834
r
r
r
r
r
r
r
r
9,818
8,983
8,829
8,804
9,034
8200
9263
9 114
17,509
14,802 16 236 17,594 15,996 15,651 16,483 16,633
r
r
r
r
r
r
9,807
9,768
9688
9657
9375
9773 10 058 10 052
r
r
r
r
r
r
r
r
6,730
5,859
5,563
6016
6407
6410
5436
5879
186 152 186 977 190 805 190 403 190,532 197,707 189,956 195,608
r
99
514
r
4661
r
8,339
r
3732
11 289
17 207
17
134
r
25 757
15 902
r
5084
86,638
r
98
065
r
4 584
r
8 005
r
3 255
11 182
16 703
17
476
r
24 992
15 483
r
5073
88,912
739 r99,318
218 r!06
528 r!00
100
881 101
r
r
r
r
r
4,963
4,795
4770
4773
4,732
r
r
r
r
r
8,002
8,299
8,189
8,417
8,558
r
r
r
r
r
3,317
3394
3357
3492
'3 480
11 466 r ll 360 r ll 053 rll 378 10885
16 848 r!6 697 16 672 17 664 16,729
r
17
703 17 650 18 133 18 148 !7 673
r
26 164 r27 128 r26 003 r30 827 r25,456
16 580 16 592 15 447 18,594 16,712
r
5049
89,924
r
r
r
r
r
r
r
5301
'88,875
r
r
5127
90,314
r
r
r
5,209
'90,968
r
154 26 785
26 365 26 607 26 839 27 003 27
1 165 1 416 1 637 1 181 rr l 544 rr2095
r
r
r
r
4647
4658
4687
4626
4654
4649
r
r
r
r
r
r
9311
9 147
9067
8641
9001
9091
629 16,793
504 16
16
154 16 423 16 571 16
r
r
r
r
r
r
9832
9 673
9274
9651
9841
9857
r
r
r
r
r
r
6,136
6,023
6,048
5,679
6,077
5856
r
4,956
90,638
r
r
27 084
r
782
r
4,536
r
9,276
17,191
10 007
r
6,314
667,694
r
r
167
147
127
168
147
126
135
125
659 036
320 689
209 090
111 599
189 000
96,606
92,394
149 347
97280
52,067
195
r
56
r
89
r
50
156
205
1 51
1 47
1 69
170
651,595 r660,705
103,601
r
5,131
'8,375
r
3,468
11 682
16,841
17 876
'27650
18,169
r
5,133
'92,007
r
26 977
1304
'4638
r
9,485
17,137
10 068
r
6,661
1.21
47
19
55
1.55
207
122
1.21
1.63
.82
147
164
1.48
1.21
207 054
111,418
5,171
8,951
3,695
11,925
18,710
19374
30393
19,068
5,444
95,636
27,922
1,729
4,991
9,763
18,385
10,139
6,754
197,527
104,889
5,174
8,348
3,476
11461
17,063
18062
28,650
17,529
5,177
92,638
26901
1,729
4,562
9,396
17,269
10258
6,682
SURVEY OF CURRENT BUSINESS
S-4
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
,,..
ls
May 1987
1987
1986
Annual
u
1985
Mar.
1986
Apr.
May
June
July
Aug.
Sept.
Feb.
Mar.
'13 166 13,164
'38,707 '38,088
'13,199
'38,444
13,123
38,623
32,065
19544
Oct.
Nov.
Dec.
'12 695
'38,213
'12 973
'38,821
Jan.
Apr.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SHIPMENTS,
INVENTORIES, AND ORDERS t-Continued
Shipments (seas, adj.)—Continued
By market category:
Consumer staples
Equipment and defense products,
except auto
Construction materials, supplies, and
intermediate products
Other materials, supplies, and
intermediate products
Supplementary series:
' Household durables
do
rl
n 15 1 322 " 153 075 '12 477
420 808 "447890 '36 070
'12 553
'36 112
'12 368
'36 844
'13 029 '12 657
'38 150 '36 683
'12 760
'37,948
13 150
'38,485
... do
rl
372 118 "372,198
ri 21 1 994 "217 223
'31,036
'16 962
'30,946
'18 715
'30,494
17 601
'31,245
'17 679
'30,876
'17 730
'30,955
17 318
'30,602 '31,058 '31,231
'18 443 '18 606 '17 235
'33,237
'20 320
'29,740
'18 683
'30,269
'20 152
do ....
rl
172,743 "179,596
14,877
15,239
14,996
14,874
14,903
14,698
15,140
15,202
15,135
15,097
15,531
16,511
16,310
do...,
rl
950,147 "903,316
'74,079
'75,675
'74,859
'74,045
'73,303
'73,298
'74,985
'74,629
'75,137
'77,180
'74,750
'77,033
77,862
do
"67841
n 420 692
rl
323 845
n gg 847
'5727
"71 541
" 428 686' '35 061
"321761 '26*789
"106 925 '8254
'5710
'35 285
'26 910
'8375
'5671
'34 957
'26 269
'8688
'6 111
'5 943 '6 103 '6338
'6090
'35 888 '35 709 '35 181 '35 552 '36 268
'26 766 '26 839 '26 583 '26,651 '27,008
'9,260
'8,901
'8,870
'9122
'8,598
'6165
'36 804
'26,932
'9,872
'6279
'39 383
'28,727
'10,656
'6,191
'34 112
'25,836
'8,276
'6,199
'35 187
'26,794
'8,393
6,083
37,282
27,418
9,864
Nondefense
Defense
Inventories, end of year or month:
Book value (non-LIFO basis),
do
do
Durable goods industries total
do
Book value (non-LIFO basis),
(seasonally adjusted), total
By industry group:
Durable goods industries,
total #
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
Machinery, except electrical...
Electrical machinery
Transportation equipment
Motor
vehicles
and
parts
Instruments and related
products . .
By stage of fabrication:
Work in process
Nondurable goods industries,
total #
Tobacco oroducts
Textile mill products
Chemicals and allied
products
.
Petroleum and coal
products
Rubber and plastics
By stage of fabrication:
Materials and supplies
Work in process
Finished goods...
By market category:
r
322 279
r
'313 697 '324 367 '325 417 '324 985 '322 241 r'321 663 '320 859 '317 705 '318 267 '317 803 '313 697 '318 669 '321,166 320,271
'204 025 '213 456 '213 871 '214,333 '212 426 211,478 '210,884 '209,380 '208,819 '207,932 '204,025 '206,933 '208,809 208,590
'109 672 '110911 '111 546 '110 652 '109 815 '110 185 '109 975 '108 325 '109 448 '109 871 '109 672 '111 736 '112 357 111 681
do....
r
'318,172 '323,774 '323,415 '322,399 '321,273 '321,197 '319,882 '318,345 '318,220 '318,721 '318,172 '320,689 '320,535
do
do
do
do....
'213
750 '207 935
r
'6,961
7,081
r
!9 670 '17 294
'7,784
'9,598
r
'21 207
22 250
r
'41,650
45,480
r
'38,774
38,184
r
52,051
'52,638
do....
do ....
do ....
209 834
112 445
326,780
'210 685 '209,885 '209,438
'6,914
'7,124
'6,999
'18,137 '17,583 17,147
'7,860
'8,202
'8,636
'21 627 '21 593 '21 504
'42,782 '42,472 '42,386
'39,439 '39,589 '39,494
'53,063 '52,890 '53,313
'209,170 '209,373
'7,001
'6,910
'16,879 16,921
'7,684
'7,604
'21 413 '21 231
'42,360 '42,339
'39,394 '39,215
'53,435 '53,601
'207,935
'6,961
17,294
'7,784
'21 207
'41,650
'38,774
'52,638
'209,090
'7,189
17,225
'7,834
'21 373
'41,418
'39,049
'53,373
'208,644 207,752
7,032
'6,990
16,571
16,859
7,483
'7,618
'21 367 21382
'41,384 40,993
'39,085 38,952
'53,311 53,260
11,232
do
11 638
'11 119
'11 513 '11 487 '11 526 '11 207 11 143
'10 998
'10 976 '10 979 '11,353
11 119
11,067
11,059
r
!2 730
12 620
'12 560
12,763
12,620
12,615
12,681
12,479
'62
163
r
97 219
'54 368
'59 357 '60 500
'95 445 '97*998
'53 133 '54 199
'59 817 '59 499
'95,589 '95,617
'53 684 '53 528
59252
94,897
53,603
do
do
d
do ....
'12,541
'12,504
12,506
12,496
'12,647
12,670
'60 679 '60 318
'97 770 '97 534
'53 870 '54 160
'60 288
'97 604
'53 143
'59 952 '59 605
'97 186 '97*085
'53 547 '53 195
'59 531
'97,042
'52 865
'59 043 '59 106 '59 357
'96,932 '96*.411 '95,445
'53 195 '53 856 '53 133
'12,476
113 030 '110 237 '111 077 '111 096 '110 387 '110 238 '110 512 '109 997 '108 907 '109 050 '109,348 110,237 '111,599 111,891 111,838
'23
559 '23 575 '23 451 '23 611 '23 476 '23 717 '24 124 '23 986 '23 549 '23 633 '23 594 '23 575 '23 792 '23677 23,720
r
5,683
'5639
'5658
'5*634
'5550
'5467
'5448
'5469
'5520
'5597
'5760
'5879
'5838
5928
'5*634
6,866
'6,806
'6,755
'6,506
'6,505
'6,494
'6,654
'6,724
'6,900
'6,935
'6,975
'7,026
'6,506
'7,123
'7,026
'9 908 '10 429 '10 005 '10 035 '10 064 '10 117 '10 339 '10 381 '10 319 '10 251 '10 326 '10 429 '10 555 '10 684 10827
do
r
25 145
'27021
do
14 006
'9844
r
do....
do
do....
Other materials, supplies, and
intermediate products
do ..
Supplementary series:
Household durables
do
Capital goods industries
do ..
Nondefense
do
Defense
do
New orders net (unadj ) total
do
Durable goods industries, total
do
Nondurable goods industries total
do
New orders, net (seas, adj.), total
do..
By industry group:
Durable goods industries, total..
do..
Primary metals
do
Blast furnaces steel mills
do
Nonferrous and other primary metals
do
Fabricated metal products
do ..
Machinery, except electrical...
.....do..
Electrical machinery
do
Transportation equipment
do
Aircraft, missiles, and parts
do..
Nondurable goods industries, total....
do..
Industries with
unfilled
orders $
.
do
Industries without unfilled
orders 0 •
do
By market category:
Home goods and apparel
do
Consumer staples
do.
Equip, and defense prod., exc. auto
do.
Automotive equipment .
do
Construction materials, supplies, and
intermediate products
do
Other materials, supplies, and
intermediate products
do .
Supplementary series:
Household durables
.....do.
Capital goods industries
do .
Nondefense
do
Defense
do
'212319 '212 012 '211 035
'6,986
'7,003
'6,986
'18,729 '18,484 18,306
'9,037
'8,849
'9,156
'22 003 '21 854 '21 729
'43,986 '43,780 '43,014
'38,742 '38,962 '39,076
'53,147 '53,169 '53,348
do
Consumer staples
do ..
Equip, and defense prod.,
exc. auto
... do
Automotive equipment
do
Construction materials, supplies, and
See footnotes at end of tables.
'212 697
'7,006
'18 990
'9,298
'21 856
'44,623
'38,421
'52,980
319,590
'26 131
'25 964 '25,955
'26,171
'26,260
'27,021
'27,286
'27,283
26,833
11 590 '11 379
'11 159
'10 982
'10 541
'10 443
'9940
'9913
'9793
'9,844
'9,968
10,225
10,418
'8 471
'8396
'8485
'8630
'8,660
'8,634
8,551
'25 654 '25 767 '25 697 '25 898
8561
'8630
'8686
'8583
'8592
'8462
'8465
'8419
'42,865
18 775
'51,390
'42,898
'17 304
'50,035
'42,444
'17 618
'51,015
'42,444
'17 410
'51,242
'42,231
'17 327
'50,829
'42,220
'17 404
'50,614
'42,582
'17 247
'50,683
'42,453
'17 005
'50,539
'42,100
'17,112
'49,695
'42,150
'17,245
'49,655
'42,133
17,247
'49,968
'42,898
17,304
'50,035
'42,757
17,709
'51,133
'43,023
17,914
'50,954
43,208
18,014
50,616
'24 398
'40,398
r
'24 578
'40,505
'24 775
'40,901
'24 643
'40,629
'24 640
'40 782
'24 680
'41,310
'24 754 '24 566
'41,056 '40,580
'24 678
'40,789
'24 876
'40,968
'24 904
'41,098
'25 339 '25 550
'41,637 '41,563
25597
41,515
'95 732
'14 233
'92 116 '94 985
'13 392 '14 123
'94 557
'14 055
'94 623
'14 171
'94 218 '94 071 '93739 '93,960 '93,942
'13 831 '13 705 '13 545 '13 502 '13332
'93,654 '92,116 '92,373 '92,140
'13 696 '13 392 '13 382 '13,482
91,537
13,632
'23 288
'128,731
24 Q04
'41,098
'22,777
22,881
'123,980 126,609 '126,083 '125,389 '125,215 '125,094 '124,323 '123,559 '123,292 123,161 123,980 124,931 125,023
124,428
'13,196
106,264
'72 044
'34,220
'198 802
'105,609
'93 193
194,333
13,245
105,466
71,471
33,995
210,690
114,543
96,147
198,893
'95,546 101,932
'823
'7333
'341
'2862
105,762
8720
3733
'22 682
'12050
'12 908
107,930 105,660
'71 787
'76 480
'31 450 '33873
'2 287 566 '2273781
'1 195 204 '1 201 566
1 092 362'1 072 215
"2,287,56 "2,273,78
'22 974
"4810
" 134 96
212,97 "199,60 !
n 200 35 "20780 i1
" 318 64
"30635
rl
100 98 " 104 53 i
rl
1,092,36 " 1,072,21
"51062
'22 587
'22 337
'22 465
'22 178
12 517
107,955
'73 701
'34 254
'202 30
'106 841
'95 460
193,758
'22 187
'22 366
'12 790
107,588
'73 179
'34 409
'189 266
'99 886
'89 380
190,999
'22682
12 908
105,660
'71 787
'33 873
192 786
'104 345
'88 441
197,042
'23,027
'13,094
106,395
'72231
'34,164
'176 432
'90,761
'85 671
186,635
'12 333
108,005
'74 964
'33 041
'186 575
'98 945
'87 630
186,614
'12 334
107,975
'74 690
'33 285
'184 962
'96 490
'88 472
185,794
'12 456
107,820
'74 264
'33 556
'195 514
'103 133
'9238
186,964
'12 630
107,771
'74 044
'33 727
'171 499
'88 928
'82 571
186,699
'12 627
107,718
'7378
'33 937
'180 877
'91 249
'89 628
184,88
'98,12
'8 12
'347
'97,077
'7936
'337
'97,77
'839
'3 66
'99,99
'7744
'326
'96,12
'867
'390
'2932
'984
'87,83
'3 683
'11,67
16,48
'1677
'2529
'7*25
'88,49
'3763
11*205
16,46
'1600
'2592
'890
'88,717
'388
'11,31
'16,49
'1825
'2353
'605
'89,19
'3694
'11,20
17,14
'1755
'2663
'868
'86,70
'394
1082
16,61
'1702
'2342
'647
'8875
'4120
'11,317
16,57
'1786
'2839
1021
'90,29
'4067
'11 187
'16,12
'1805
'2675
'8 55
'8901
'4056
11,15
'16,80
'17 37
'2707
'1069
'9034
'4250
'11 724
16,499
'1880
'2950
'975
'9107
'3,709
10,847
'16,02
'1591
'2421
658
'91,08
'4,056
11,244
16,81
1705
'2730
'784
'92,40
4,27
11,40
17,13
1627
3030
991
93,13
'2175
'2246
'2198
'22 87
'23 50
'2344
'2358
'2372
'2396
'2427
2434
'6672
'6471
'65 87
'6678
'6556
'6676
'67 35
'67 12
6812
6878
1352
38,63
30,82
1966
'12 110
108*258
'7579
'32 467
'199 928
'109 298
'90630
188,76
'1,195,20
"1,201,56 100,93
rl
110 214 " 102 15 '828
n 48 305 "43560
'365
rl
137,592
rt
'23 044 '22 944
'376
1070
'16,10
r 16 85
'12631
107,919
'73 359
'34 560
'192845
'102 107
'90 738
189,407
103,468 100,392 100,658 105,966
'9 180
'8258
'8252
'8955
'3977
'3 203 '3418
'4004
"27065
'2209
'2180
839 06
'801 56
'6573
'66 68
151 08
"420,91
"384,84
"211 11
" 153 14
"447,89
"373,51
"21699
12,77
'36,17
'33,39
1715
1254
'36,14
'29,29
1868
12,42
'36,78
'30,57
1748
1289
'38,11
'30,90
'1756
1254
'36,67
'32,51
'1765
'1282
'37,90
'29,89
'1695
1316
'38,44
'31,55
'1856
'1250
'38,19
'30,61
'1884
1277
'38,85
'31,98
'17 19
1285
'38,75
'32,24
'2022
1361
'38,03
'27,23
'1864
'1344
'38,44
'29,12
'20 17
" 171 90 " 179 22
'1453
'15 15
'1500
'1481
'1504
'1452
'1503
'15 13
'15 12
'1537
'1542
'16 12
1629
"947,70
"903,01
'7473
'7479
'7352
'7267
'7226
'7276
'7700
'74 13
'75 06
'7757
'7368
'7701
7995
"6754
"433,95
"32363
" 110 31
"71 71
"43018
"32005
"11013
'599
'2661
'1221
'572
'3343
'2547
'7 96
'573
'3442
'2548
'894
'598
'34 13
'2590
'823
'581
'37 07
'2663
'1043
'6 14
'3344
'25 54
'790
'635
'37 67
'27 14
'10 53
'593
'3557
'27 64
'7 92
'6 01
'3778
'27 30
'10 47
'6 08
'3696
'29 31
'7 64
'6 53
'31 47
'26 77
'4 70
'629
'3383
'26 85
646
3702
27 32
970
"25329
1
rl
rfi 00
::::
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
S-5
SURVEY OF CURRENT BUSINESS
May 1987
,, .,
1987
1986
Annual
lJnit8
1985
Mar.
1986
Apr.
June
May
Oct.
Sept.
Aug.
July
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SHIPMENTS,
INVENTORIES, AND ORDERS ft— Continued
Unfilled orders, end of period (unadjusted),
total
.. ... .
mil $
Durable goods industries, total
do
Nondurable goods industries with
unfilled orders $
do
Unfilled orders, end of period (seasonally
adjusted) total
mil $
By industry group:
Durable goods industries total #
do
Primary metals
do
Blast furnaces steel mills
do
Nonferrous and other primary metals
do
Fabricated metal products
do....
Machinery, except electrical
do....
Electrical machinery
do
Transportation equipment
do
Aircraft, missiles, and
parts
do
Nondurable goods industries with
unfilled orders $
do
By market category:
Home goods and apparel
do....
Consumer staples
do
Equip, and defense prod., excl.
auto . . . .
do
Automotive equipment ..', . .
do
Construction materials, supplies, and
intermediate products
do....
Other materials, supplies, and
intermediate products ..
do
Supplementary series:
Household durables
do
Capital goods industries
do. ..
Nondefense
do
Defense .
.
do
BUSINESS INCORPORATIONS @
New incorporations (50 States and Dist. Col.):
Unadjusted
number
Seasonally adjusted
do
r
370 410 r386 653 r383 210 r379 199 r374 059 r372 886 r368 883 '370 253 r368 124 '368 602 '370 410 '372 193 '373 797 377433
359 674 '359 536 '375 930 r372'410 r368 353 r363 426 r362,133 r358 356 r359 423 r357 286 '357 858 '359,536 '360,672 '361,749 364,874
r
369 927
r
10874
10 253
10723
10 838
10 830
10 527
10 753
10 633
10 846
10 800
'10 744
'10 874
'11 521 12 048
12,559
'373 495 ^73 849 r379 681 '377 060 r375 692 r373 634 r374 181 r372 090 '375 043 '374 047 '374 514 '373 849 '370 526 '369 251 370 617
363 030 '362 745 r369 065 r366 332 r364 925 r363 086 r363 563 '361 627 r364 214 r363 078 '363 518 '362 745 '358 971 '357,302 358,175
16 566 '17 447 16,778 16,634 17,006
662 16497
16 265 16
447 17 142 16*649 16065 16 188 15593
17 024 17
r
r
r
r
rg YJI
rg349
rg 422
rg 243
rgQ22
8973
'8716
'8773
'9 228
'8645
8584
7704
8873
9228
'8486
r
r
r
5417
6070
19,996 18,977
'61,765 r55,525
'91 759 '93 932
156*839 161 315
r
5388
'5 760 r5426
'6 132
19,287
19,477 r19,468 19,336
'60,011 58,715 rr58,420 '57,563
'92524 '92 708 92 133 '93 503
163 578 162*479 162 737 160*404
r
'5 158
'5311
5297
19,204 18,851 18,702
'57,135
'57,496 '57,409
r§3 923 r93 467 r93 628
161 286 159 715 161 942
'5218
'5 145
18,529 18,631
'56,562 '56,690
'94 032 '93 277
161,571 '162,642
'5 417
18,977
'55,525
'93 932
161,315
132 730 138 180 138170 137 521 138 221 135 922 136 417 135 082 137 322 137 100 '138865 '138 180
10 465
'3,438
r
781
11 104
10 616
'3,501
r
784
'4,301
r
866
r
r
10767
10 728
'4,232
r
812
'4,368
r
843
'4,316
r
899
10 829
10 463
'4,200
r
722
'4,187
r
766
'4,118
r
805
r
r
r
r
10 618
10 548
r
r
10 969
'10996
'11 104
'4,007
r
699
'3,808
'734
'3,501
'784
5428
5206
'5234
18,939 18,501 18,443
'54,816 '54,789 54,862
'92 174 '91 351 89561
160,071 159,723 161,379
137 580 '137 676
138,244
11 555
11 949
12442
'3,950
'729
'4,197
'727
4,'599
736
r
690 240 329 239
035 238
542 '240741 238
271 240 219 239 776 '240533 '239 542 '237 033 '235 893 234,649
953 239
238
337 239
r
r
r
r
r
5,659
'5,535
'5508
'5 690 r5328
5764
'5544
'5637
'5682
'5448
5877
5994
'5983
5544
5766
10,000
9,985
114 285 113 982 117 160 116 410 115072 113701 112 663 rl!2 134 114 154 113 655 '113586 '113 982 '112917 112899
114,989
10,888
10,496
10,630
10,488
10,497
10,435
10,576
10,404
10,300
10,228
10,216
10,496
10,389
r
r
r
r
r
r
r
r
3,910
'3,525
'3,432
3,435 '3,285
3,679 r r3,554
3,782
'3,090
'3613
3599
3716
3,700
3,090
2,912
292,430 r'290,690 r 292,811 '292,119 '293,095 '290,672 '288,036 '286,685 286,424
289,266 '290,672 '295,371 r293,344 r292,815 '291,066
r
129 814 128 067 130 402 128 872 128 087 r!27 226 127 024 !25 982 126 474 '127 113 '127 482 128 067 '129 008 '129 070 128 972
159452 162 605 164 969 164 472 164 728 !63 840 165 406 164*708 166 337 165 006 165 613 '162 605 159 028 '157 615 157,452
r
662 047 702 101
INDUSTRIAL AND COMMERCIAL
FAILURES @
Failures, total
number
57252
Commercial service
do
16647
Construction
do
7,004
Manufacturing and mining
do ..
5,662
Retail trade
do
13 501
Wholesale trade.. ...... ... .. ..
do
4835
Liabilities (current), total
mil $ 36 914 1
Commercial service
do
64726
Construction
do
2011 9
Manufacturing and mining
do
7*162 6
Retail trade
do
29084
Wholesale trade
do
28316
Failure annual rate (seasonally adjusted)
No. per 10,000 concerns ..
61 183
20911
7035
5,641
13509
4808
43 961 0
8 375 2
1 862 5
92690
27402
19583
55,419
59399
61 263
59 020
63652
59880
59407
55886
48,098
56453
68,845
65692
54,401
54455
4992
1542
555
495
1 143
432
27466
5308
1359
8568
3010
184 4
5000
1651
553
436
1 136
*398
29025
5928
1343
2134
1668
179 6
4644
6 172
4335
4795
4468
5904
5869
1725
1 980 1 647 1 531 2*016
1 543 2185
519
689
517
541
693
516
'669
432
424
381
545
605
432
519
932
1 376 1022
930
1 245 1 100
1 256
*364
*466
325
393
488
366
451
3 515 7 34266 7 609 1 36850 3 377 2 40995 19738
5025
7122
436 5
9177
4882
8790
7558
93 i
1682
1269
2560
830
1602
213 1
2642
2085 24007
3260
5045
7489 1 5295
2077
2240
278 9
2008
3210
145 9
2656
866
2076
3295
1347
1120
955
195 1
4579
1759
517
422
870
324
38679
7826
1705
2502
156 1
839
5390
5613
1,993
2103
559
596
483
472 '
1 176
1 171
370
386
3 446 6 2,921 1
852 1
867 5
134.9
1317
3860
6117
4156
2575
194.7
1185
59227
56 894
58598
57 789
52531
55647
55476
57310
59764
57 190
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS t
Prices received, all farm products
1910-14=100,.
Crops #
do
Commercial vegetables
do
Cotton
do
Feed grains and hay
do
Food grains
do
Fruit....
do
Tobaccb
do....
Livestock and products #
do
Dairy products
...do ....
Meat animals.
do
Poultry and eggs
do....
Prices paid:
Production items
do...,
All commodities and services, interest, taxes,
and wage rates (parity index)
1910-14=100..
Parity ratio §.
do
CONSUMER PRICES 0
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
ALL ITEMS, WAGE EARNERS AND
CLERICAL WORKERS, REVISED
(CPI-W)
1967—100
t
ALL ITEMS, ALL URBAN CONSUMERS
(CPI-U)
1967 - 100 ..
Special group indexes:
All items less shelter
do....
All items less food
do
All items less medical care
do....
See footnotes at end of tables.
586
520
638
474
385
365
678
1,496
654
779
802
271
561
460
645
462
310
300
622
1,341
666
764
817
293
557
482
613
490
355
372
549
1,386
635
746
769
284
551
492
733
500
356
368
535
1379
612
734
742
263
562
497
719
494
370
327
603
1374
630
734
777
266
556
474
591
494
347
270
665
1 374
641
728
798
271
571
458
585
519
308
247
632
1 374
689
734
857
322
572
436
608
395
274
249
673
1 243
715
746
887
345
559
421
648
404
243
250
650
1321
705
777
874
314
555
420
653
398
240
253
680
1265
697
801
848
318
568
444
729
453
250
266
710
1273
699
820
848
310
551
430
600
462
254
271
629
1273
677
820
824
283
552
429
741
431
249
274
594
1260
682
813
845
268
558
430
704
403
247
280
647
1268
692
789
877
262
'560
'440
'785
'422
'253
'280
'628
1,274
'685
'764
'880
253
573
439
720
429
260
280
620
1,266
713
752
937
256
874
839
(2)
838
836
824
829
852
1,120
52
1,097
51
(2)
(2)
1,095
50
1,097
52
1,089
51
1,091
'51
1,112
52
3185
3234
3214
320 4
3214
3230
3229
3234
3249
3250
3254
3257
3277
3290
3305
3323
322.2
328.4
326.0
325.3
326.3
327.9
328.0
328.6
330.2
330.5
330.8
331.1
333.1
334.4
335.9
337.7
303.9
3233
317.7
306.7
328.6
322.6
305.2
326.6
320.5
303.6
325.7
319.7
304.7
326.7
320.6
306.5
328.6
322.2
306.1
328.0
322.1
306.4
3281
322.6
307.9
3300
324.2
307.8
330.2
324.4
308.0
3304
324.5
308.3
330.6
324.8
310.3
332.2
326.7
311.5
333.6
328.0
312.9
335.4
329.4
314.6
337.3
331.1
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
....
unns
1985
May 1987
1987
1986
Annual
Mar.
1986
Apr.
July
June
May
Nov. *
Oct.
Sept.
Aug.
COMMODITY PRICES—Continued
CONSUMER PRICES t-Continued
(U.S. Department of Lftbor Indexes)— Continued
Not Seasonally Adjusted
All items (CPI-U)—Continued
Commodities
....1967=100..
Nondurables
do .
Nondurables less food
do....
Durables
do
Commodities less food
do
Services
do
Food #
...
.
do
Food at home
'
do
Housing....
do. ..
Shelter #
...do ....
Rent residential
do
Homeowners' cost.
Dec. 1982=100..
Fuel and utilities #
1967 = 100 ..
Fuel oil, coal, and bottled
gas
do....
Gas (piped) and electricity.
...do....
Household furnishings and operation .. ..
.. ..
...
do
Apparel and upkeep
...... . d o ..
Transportation
do....
Private...
„
do...,
New cars
do
Used cars
.
do
Public
do .
Medical care
.
do .,
Seasonally Adjusted t
All items, percent change from
previous month
Commodities
Commodities less food
Food ... .
Food at home ..
Apparel and upkeep
Transportation
. .
Private
New cars
Services
Hides, skins, and leather products
...do...
Lumber and wood products
do...
Machinery and equipment
do..
Metals and metal products
do..
Nonmetallic mineral products
do..
Pulp, paper, and allied products
do..
Rubber and plastics products .....
do..
Textile products and apparel
do
Transportation equip #
Dec 1968—100
Motor vehicles and equip
....1967=100
Seasonally Adjusted t
Finished goods, percent change from previous
month. . .
By stage of processing:
Crude materials for further processing
1967—100
Intermediate materials, supplies, etc
do..
Finished goods #
do..
Finished consumer goods
do..
Foods
..
do
Finished goods, exc. foods .......
do
Durable
.
.do.
Nondurable
do..
Capital equipment
do..
PURCHASING POWER OF THE DOLLAR
As measured by:
Producer prices
1967-$1.00
Consumer prices
. .
do
See footnotes at end of tables.
1
286.7
293.2
277.2
2707
2725
381 5
3098
2968
349.9
382.0
264 6
113.1
393.6
283.9
2896
262.2
2702
2634
4005
3197
3053
360.2
402.9
2800
119.4
384.7
283.7
289.5
265.6
2697
2652
3949
3154
301.2
357.0
397.0
2750
117.9
385.5
281.2
286.3
259.2
2692
2612
3968
3161
301.5
358.0
400.1
2779
118.7
381.8
282.1
287.4
260.5
2696
2621
3979
317.0
302.1
358.5
400.9
2784
118.9
382.5
282.8
288.2
261.8
2699
263 0
4010
317.1
301.6
361.2
401.6
279.4
119.0
393.8
281.9
287.1
257.3
2696
2602
402.3
320.1
305.5
361.5
403.5
281.2
119.4
389.4
281.9
287.4
255.6
269.0
259.0
403.7
322.7
308.9
362.4
405.2
281.7
119.9
389.5
283.5
289.4
258.9
269.3
261.1
405.5
323.2
309.0
363.7
407.6
283.2
120.7
388.3
283.6
289.0
257.8
270.5
260.9
406.1
323.7
309.5
363.0
409.5
284.6
121.3
379.1
284.0
289.2
257.4
271.8
261.2
406.1
324.6
309.9
361.7
410.2
285.6
121.5
371.1
284.2
289.5
257.5
271.7
261.2
406.6
325.2
310.2
362.1
410.4
286.0
121.6
371.0
286.3
292.1
259.2
272.4
262.5
408.6
328.9
315.2
363.9
412.3
287.1
122.0
373.7
287.7
294.6
262.6
271.2
264.0
409.9
330.1
316.6
365.1
414.0
288.0
122.5
374.8
289.5
296.8
266.4
271.7
266.5
411.2
330.0
315.8
366.4
415.9
288.3
123.0
374.9
291.4
299.1
269.6
273.0
268.9
412.8
331.0
316.9
367.7
418.0
288.8
123.6
374.2
619.5
452.7 •
501.5
446.7
549.9
442.3
518.3
439.2
496.8
444.6
486.6
466.0
459.4
462.3
447.3
464.5
453.5
461.1
451.9
441.4
452.0
426.7
460.6
425.3
487.9
428.8
503.2
428.9
500.6
428.7
500.5
425.9
2472
206.0
319.9
314.2
2152
3797
402.8
403.1
250.4
207.8
307.5
299.5
2244
3632
426.4
433.5
249.8
206.3
309.6
302.1
220.3
367.2
421.2
425.8
249.6
207.3
303.3
295.3
2212
364.8
422.2
428.0
249.9
206.4
305.7
297.8
223.0
363.6
423.7
429.7
250.2
204.5
308.6
300.8
224.2
362.5
425.4
432.0
250.5
203.2
304.7
296.5
224.7
360.3
428.0
434.8
250.5
207.0
301.3
292.8
224.7
358.0
428.0
437.5
251.5
212.1
302.2
293.7
224.5
359.5
428.5
439.7
251.6
213.2
302.6
294.1
227.1
360.6
428.7
442.3
251.2
213.1
304.3
295.8
230.7
361.0
431.7
444.6
252.4
210.9
304.8
295.9
232.2
356.6
437.5
446.8
253.1
207.1
308.5
299.8
233.0
354.6
438.9
449.6
253.5
208.4
310.0
301.3
230.2
356.9
439.8
452.4
254.3
215.2
310.6
301.9
229.4
363.0
441.4
455.0
255.2
218.7
313.3
304.8
230.4
371.6
440.8
457.3
-.4
2838
2664
314.4
299.4
206.4
3116
304.2
2203
3961
-.3
2808
2616
315.1
299.9
206.9
303.8
295.9
2213
3980
.2
2818
262.4
316.5
301.3
206.9
305.7
297.8
2228
3986
.4
282.8
263.4
317.4
301.9
206.3
308.1
300.3
2242
400.7
.0
282.2
261.2
320.2
305.6
207.1
304.2
296.0
2252
401.7
.2
282.2
259.9
322.7
308.7
208.0
301.3
292.9
225.9
403.0
.3
283.2
260.8
323.9
309.9
208.9
302.2
293.8
226.4
403.9
.2
283.2
260.2
325.2
311.1
209.0
302.5
294.1
228.0
405.3
.2
283.6
260.1
326.5
312.3
209.6
303.6
295.1
229.7
406.7
.2
283.9
260.2
327.2
312.6
209.5
303.6
294.8
230.9
407.8
.7
286.6
263.5
328.6
314.0
210.4
308.3
299.6
231.8
409.6
.4
287.9
264.8
329.6
315.S
211.8
309.8
301.2
229.S
411.1
.4
289.c
267.0
329.2
314.1
215.4
311.8
303.2
229.^
412.6
.4
290.8
268.8
330.2
315.2
218.6
313.4
305.0
230.4
414.1
2998
3003
2982
2992
2990
2974
297.2
297.5
298.4
298.7
r
298.5
300.9
302.7
302.8
305.1
1967 — 100
do
do
do .
do....
do
do
do
do
PRODUCER PRICES §
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
All commodities
1967—100
By stage of processing:
Crude materials for further
processing . . .
.
do
Intermediate materials, supplies, etc.
..do...,
Finished goods #
do
Finished consumer goods
do
Capital equipment
do
By durability of product:
Durable goods
do..
Nondurable goods...
do ....
Total manufactures
do
Durable manufactures
.
do
Nondurable manufactures...
do....
Farm products, processed foods and
feeds
do
Farm products...
..do...
Foods and feeds, processed
do
Industrial commodities .
do
Chemicals and allied products
do...
Fuels and related prod., and
power
do
Apr.
Mar.
Feb.
Jan.
Dec.
3087
306 1
2800
2811
2737
2794
2769
2777
276.3
275.4
277.2
279.2
'277.0
284.0
288.8
287.7
295.5
318.7
2937
291 8
3005
307;6
2896
2849
3065
309.5
2880
2834
3043
307.1
2872
2819
3056
306.7
2889
284 1
3057
3068
2893
2845
3061
304.8
2876
2823
3064
304.5
2881
2830
306.2
306.1
2873
282.5
303.9
304.8
290.7
285.2
309.9
304.8
290.7
285.1
310.4
305.0
r
290.4
'284.8
310.1
307.1
291.7
286.2
311.2
308.9
292.J
287.1
310.5
309.4
292.J
287.2
310.3
310.9
295.0
290.3
311.7
297.3
317.2
3043
2981
310.5
300.0
298.7
2976
3009
294.0
2986
300.7
2973
2994
294.9
299.7
296.0
2961
3005
291.2
299.6
297.9
2967
3004
292.6
299.7
297.7
2969
3005
293.0
300.0
294.5
2952
3009
289.1
299.9
294.2
295.5
300.8
289.7
298.8
295.6
296.0
299.6
292.1
302.2
294.4
297.0
303.1
290.4
302.4
294.8
297.1
303.3
290.5
302.1
'294.7
297.2
302.9
r
291.0
303.0
298.2
299.3
303.7
294.4
303.5
301.0
300.7
304.1
296.9
303.9
300.8
300.9
304.6
296.8
304.3
304.5
302.9
305.0
300.4
2505
230.5
260.4
3238
303.2
2520
224.7
265.1
3121
299.7
2473
220.2
260.7
3140
303.8
2462
218.6
259.9
311 6
300.2
2508
227.0
262.3
311.6
298.5
2498
2226
263.2
3118
298.4
254.2
228.6
266.8
308.5
298.4
255.5
227.0
269.6
307.9
297.0
254.0
224.:
269.0
308.7
297.5
254.8
227.4
268.4
309.6
298.2
255.5
230.1
267.9
309.8
298.6
'254.7
'227.4
'268.2
'309.8
'298.1
251.5
220.2
267.(
313.6
300.9
251.9
221.2
267.:
315.7
301.8
251.9
222.7
266.'
315.8
304.5
257.0
231.3
269.8
317.4
306.7
6336
221 6
286.1
303.6
298.9
314.9
347.8
327.2
245.9
2104
269 5
267.3
4835
2239
296.7
305.3
303 3
311.3
352.0
335.3
246.
211
276 2
274.4
5121
2232
293.6
301.2
302.0
311.2
352.4
331.3
2467
2114
2735
270.2
4824
223 6
295.0
308.6
302.7
311.0
352.8
332.8
246.7
211 1
2755
272.9
4838
224 1
296.5
308.1
302.9
310.6
353.6
333.8
246.3
2112
275 1
272.6
4847
2242
297.9
306.0
303.1
310.7
353.0
334.2
246.1
2111
2754
273.0
4443
224
297.4
306.8
303.9
310.4
352.9
335.2
245.4
2114
2757
273.3
438.4
2242
297.0
307.2
304.1
311.1
351.8
336.4
246.2
2112
2747
272.0
4526
2242
296.4
308.8
304.2
311.7
351.4
337.8
245.7
2111
2684
264.2
438.8
2246
297.8
307.1
304.5
311.9
351,3
339.4
245.1
2112
2826
284.3
438.5
224.9
299.3
307.5
304.9
312.0
351.1
340.4
244.4
211.3
2824
283.9
'439.6
'224.9
'301.6
'306.8
'305.2
'311.7
'350.0
'340.9
'244.2
'211.4
'281 5
'282.7
462.4
225.1
300.7
307.9
305.9
313.2
350.4
344.1
245.3
211.6
2823
282.9
476.2
225.6
301.9
312.1
306.6
313.8
351.5
346.8
245.7
211.8
2819
278.1
472.2
225.8
305.7
314.3
306.8
314.4
350.7
347.
244.
212.
282.
278.2
480.3
226.9
309.6
315.0
306.9
315.5
351.8
349.0
245.6
212.9
282.0
281.8
.7
.340
310
,34
30
2809
310.
288.
284.
270
286
243.7
319.
304.
2732
307.3
287.4
282.3
2717
282.9
245.7
311.0
305.
279
306.
288.
284.
275.
283.
245.
312.
305.
277 2
306.6
289.4
284.7
2759
284.
245.
313.
306.
2767
304.7
287.2
281.7
279.6
277.9
246.4
301.7
306.3
.34
30
.348
30
.34
30
.34
30
.34
30
277
304.
288.
283.
283.
277.
246.
301.
306.
.34
.30
2768
305.7
289.
283.8
2833
279.
247.
303.
307.
2809
304.8
290.
284.8
285.9
279.2
251.0
300.
308.
2790
304.
290.
284.7
285.3
279.4
252.
300.
309.
'2766
'304.7
'290.4
'284.8
'284.0
'280.2
'252.0
'301.5
'310.2
2823
307.6
291.7
286.2
279.0
285.
252.4
308.9
310.8
287.4
309.2
291.9
286.8
277.7
286.5
249.7
312.9
310.0
.34
30
.34
30
.34
.30
'.344
.302
.343
30
.34
.29
287.
310.
293.
288.
279.
288.
249.
315.
310.
295.7
311.2
295.3
290.8
283.2
289.7
252.1
316.5
311.2
.34
.29
.339
.296
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
8-7
SURVEY OF CURRENT BUSINESS
May 1987
.. ..
units
1985
1987
1986
Annual
1986
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE ®
New construction (unadjusted) total
mil $ 355,571
Private, total # • ' . . • '
do
292,792
Residential.. . . . . . . .
do
158,817
New housing units
do.... 115,974
Nonresidential buildings, except farm and
public utilities, total #
mil. $.. 95,317
Industrial
..
do
15,769
Commercial .. ..
do
59,628
Public utilities:
7,484
Telephone and telegraph
do
Public total #
do
62,780
Buildings (excl. military) #
do.... 20,172
Housing and redevelopment
do....
1,512
Industrial
do
1,968
3,283
Military facilities
do
19,998
Highways and streets
do
New construction (seasonally adjusted at
annual rates) total
bil $
Private total #
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 (excl military) #
do
Housing and redevelopment .
do
Industrial
do
Military facilities
do
Highways and streets
do
CONSTRUCTION CONTRACTS
Construction contracts in 50 States (F.W. Dodge
Division, McGraw-Hill):
Valuation total
mil $
Index (mo. data seas, adj.)
1982=100 ..
Public ownership...
mil $
Private ownership
do
By type of building:
Nbnresidential.
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
do ..
One-family structures
do
New private housing units authorized by building
permits (17,000 permit-issuing places): t
Monthly data are seas. adj. at annual rates:
Total
thous
One-family structures
do....
Manufacturers' shipments of mobile homes:
Unadjusted
thous ..
Seasonally adjusted at annual
rates
do
CONSTRUCTION COST INDEXES
Dept of Commerce composite $
1982—100
Boeckh indexes:
Average, 20 cities:
Apartments, hotels,
office
buildings
1982 100
Commercial and factory buildings
do
Residences
. . .
do
Engineering News-Record:
Building
1967 100
Construction
do
Federal Highway Adm.— Highway construction:
Composite (avg. for year or qtr.)
1977 = 100 ..
See footnotes at end of tables.
377,906
306,698
175,596
133,880
26,943
22,560
12,273
9,368
28,750
23,603
12,840
10,177
31,988
25,960
15,049
11,336
34,665
27,943
16,737
12,303
34,945
27,805
16,564
12,925
36,282
28,723
17,338
13,119
36,378
28,615
16,992
13,008
36,018
28,930
17,296
12,822
32,936
26,884
16,001
12,154
29,183
24,042
13,408
10,238
'25,434
'20,866
12,041
'9,497
'25,168
'20,772
11,527
'8,875
27,855
23,059
13,611
10,456
93,484
13,653
58,556
7,303
1,057
4,637
7,678
1,149
4,865
7,702
1,123
4,823
7,860
1,113
4,928
7,969
1,097
5,060
8,235
1,084
5,261
8,423
1,207
5,263
8,307
1,177
5,069
7,814
1,156
4,793
7,333
1,110
4,456
'6,317
'894
'3,822
'6,664
'973
'4,041
6,687
924
4,035
7,480
71,208
24,011
1,470
1,646
3,894
21,260
583
4,384
1,618
95
142
306
981
652
5,148
1,804
133
151
310
1,409
634
6,028
1,867
119
159
303
1,991
704
6,722
2,024
107
122
313
2,380
666
7,140
2,232
127
149
296
2,567
624
7,559
2,351
140
125
344
2,672
659
7,763
2,392
139
169
421
2,584
717
7,088
2,333
130
117
295
2,350
593
6,053
2,229
141
118
332
1,561
625
5,141
2,085
118
120
358
1,054
'483
'4,569
1,870
122
137
'335
916
524
'4,396
1,788
122
117
'301
'801
4,796
1,966
129
150
346
972
368.0
298.9
165.6
126.5
373.9
303.3
170.5
129.4
374.5
302.6
172.5
132.4
375.4
304.6
174.5
135.2
380.7
309.0
178.8
136.6
382.6
310.2
178.8
137.8
382.6
308.6
178.5
138.5
388.4
315.3
187.0
139.4
383.1
311.7
185.7
140.2
378.5
305.5
181.5
137.8
'381.1 '383.9
'309.1
'307.2
183.0
185.4
139.5 I 139.1
379.0
305.1
183.8
141.3
94.6
13.4
60.7
94.8
14.6
59.8
91.9
13.7
57.4
91.5
13.0
57.4
92.6
12.9
58.1
94.4
12.5
60.1
93.3
13.2
58.0
91.8
12.9
56.2
90.4
13.5
54.9
88.4
12.6
54.4
'85.6
12.2
'51.9
'89.9
12.6
'55.2
86.2
11.7
52.6
7.4
69.2
21.5
1.1
1.7
3.7
22.7
7.9
70.6
22.6
1.6
1.8
3.7
23.2
7.6
71.9
22.6
1.4
1.9
3.6
23.2
7.8
70.8
22.6
1.3
1.5
3.8
22.0
7.5
71.7
24.5
1.5
1.8
3.6
21.6
7.2
72.4
24.9
1.7
1.5
4.1
21.6
7.4
74.0
25.9
1.7
2.0
5.0
20.6
7.6
73.2
26.5
1.6
1.4
3.5
20.5
7.2
71.5
26.6
1.7
1.4
4.0
18.4
7.5
73.0
27.0
1.4
1.4
4.3
19.0
'7.2
'73.9
'25.2
1.5
1.6
4.0
'22.9
.7.6
'74.8
'25.6
1.5
1.4
'3.6
'21.9
73.9
26.4
1.5
1.8
4.2
21.6
232,277 243,254
'148
'155
54,601 59,367
177,676 183,887
19,617
151
4,548
15,068
'23,754
165
'5,603
18,151
21,589
153
5,236
16,352
21,649
159
5,655
15,994
21,835
157
5,906
15,929
20,489
155
5,165
15,325
19,852
155
4,908
14,943
21,076
151
5,211
15,865
17,367
156
3,753
13,614
17,163
155
4,418
12,745
15,759
150
3,865
11,894
14,594
145
3,411
11,183
21,684
160
5,674
16,009
22,599
158
5,801
16,798
83,151 81,304
108,662 120,637
40,464 41,314
6,382
10,002
3,233
'7,236
12,416
'4,102
6,482
11,252
3,854
6,761
10,977
3,911
6,970
10,840
4,025
6,788
10,145
3,556
6,876
9,950
3,026
7,124
10,636
3,316
6,624
8,361
2,382
5,584
8,034
3,545
5,800
7,350
2,608
4,700
7,518
2,375
7,290
10,628
3,766
7,153
11,276
4,170
206,622
17,478
12,929
17,953
12,525
16,767
16,591
13,409
151.1
151.0
97.0
188.3
188.2
118.4
186.7
186.6
126.1
183.6
183.6
124.9
172.2
172.0
113.5
163.8
163.8
109.4
154.3
154.0
102.5
154.9
154.8
100.9
115.7
115.6
77.5
113.1
113.0
72.2
105.1
105.1
69.2
102.9
102.8
'71.8
142:5
142.4
101.1
163.9
163.8
120.9
1,887
1,195
1,945
1,220
1,848
1,219
1,842
1,212
1,786
1,147
1,800
1,180
1,689
1,123
1,657
1,114
1,637
1,129
1,813
1,233
1,816
1,253
1,838
1,303
1,749
1,226
1,699
1,250
1,862
1,184
1,652
1,085
1,676
1,204
1,719
1,150
1,599
1,061
1,744.9
1,741.8
1,072.4
1,807.0
1,805.4
1,179.4
1,733
957
1,769
1,078
283.9
244.3
1,778
1,098
1,728
1,059
1,687
1,071
1,664
1,036
1,667
1,028
1,874
1,132
1,778
1,083
20.5
22.9
22.5
21.4
20.3
21.6
21.5
23.1
17.2
15.8
16.0
16.3
19.6
241
251
239
232
238
231
243
241
237
251
242
231
228
112.0
112.8
112.9
112.4
112.3
112.4
111.4
110.9
110.8
110.6
110.9
111.1
1,810
1,038
109.4
111.7
110.9
113.0
111.3
115.1
114.9
113.2
117.3
114.2
112.8
116.6
358.7
390.1
367.3
398.5
362.3
393.9
172.1
171.6
175.7
1,793
1,110
363.8
394.9
367.5
398.0
368.4
399.5
169.0
369.3
402.4
368.8
402.3
370.0
402.5
176.0
371.4
404.2
371.3
404.0
116.7
114.3
119.0
116.6
114.3
119.0
116.1
114.0
118.6
115.6
113.8
118.1
114.9
113.3
1173
114.4
112.9
116.8
371.5
404.8
1670
372.0
405.1
371.4
404.9
372.4
405.5
169.9
'373.2
2
405.9
S-8
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
SURVEY OF CURRENT BUSINESS
,,.ta
Units
1985
May 1987
1987
1986
Annual
Mar.
1986
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
CONSTRUCTION AND REAL ESTATE—Continued
REAL ESTATE 0
Mortgage applications for new home construction:
15.1
27.5
22.3
17.9
16.7
16.2
21.7
24.7
FHA applications
thous. units..
18.9
20.2
26.9
41.0
51.0
39.1
180.8
325.5
155
289
302
255
242
252
228
243
232
280
314
455
Seasonally adjusted annual rates....;
do ...
548
441
18.0
13.2
14.1
14.5
13.5
17.5
19.3
23.2
Requests for VA appraisals
do
20.7
24.3
28.6
21.2
27.3
243.4
215.0
213
185
220
208
203
211
238
241
258
277
326
Seasonally adjusted annual rates
do
291
228
Home mortgages insured or guaranteed by:
9,133.91
5,519.57
5,898.49
Fed. Hous. Adm.: Face amount
mil $ 23,963.94 56,901.44 4,032.79 3,390.61 5,277.44 3,944.51 4,434.27 6,551.19 5,309.03 5,075.74 6,926.72 5,531.23
Vet. Adm.: Face amount §
do.... 13,047.56 24,721.62 1,621.70 1,298.65 1,742.12 2,396.95 1,942.20 2,656.80 3,466.86 2,024.13 2,257.13 2,768.00 2,718.07 3,254.93 4,419.78 "£021.48
Federal Home Loan Banks, outstanding advances
to member institutions, end of
period .
mil $
88,835 108,645 87,231 91,107 91,882 94,840 97,373 98,360 99,036 100,310 101,109 108,645 104,250 104,376 106,760 108,820
New mortgage loans of all operating thrift
institutions, estimated total @ .
mil $
17,027 20,013 22,314 27,120 25,623 25,767 25,187 r25,210 19,932 '31,833 15,343 16,053 21,694
267,662
By purpose of loan:
r
2,286
1,855
1,584
'2,956
2,107
Home construction
do
2,712
2,489
2,733
2,637
2,231
2,461
2,260
2,739
29,059
11,817 11,922 16,365
'22,877
Home purchase *
do,...
11,595 13,764 16,939 20,329 19,903 20,013 19,383 19,017 15,066
197,082
r
r
r
3,042
'2,276
1,942
6,048
2,772
3,314
'3,481
3,294
2,987
All other purposes *
do....
4,153
3,143
3,171
3,509
41,578
DOMESTIC TRADE
ADVERTISING
Magazine advertising (Leading National
Advertisers):
Cost, total
mil $
Apparel and accessories
do
Automotive incl. accessories
do
Building materials
do
Drugs and toiletries
do
Foods, soft drinks, confectionery
do
Beer, wine, liquors
do
Houshold equip., supplies, furnishings
do
Industrial materials.
do
Soaps, cleansers, etc . . . .
do
Smoking materials
do
All other
do
Newspaper advertising expenditures (Newspaper
Advertising Bureau, Inc.):
Total
/
mil $
Classified
do
National
do
Retail
do
WHOLESALE TRADE t
Merchant wholesalers sales (unadj.),
total
mil $
Durable goods establishments
do....
Nondurable goods establishments
do
Merchant wholesalers inventories, book value
(non-LIFO basis),
end of period (unadj.), total
mil. $.,
Durable goods establishments
do
Nondurable goods establishments
.do....
2220
781
291
1 147
2259
793
294
1 172
2306
799
304
1 203
2321
839
309
1 173
2073
794
227
1 053
2309
860
258
1 191
2 187
798
280
1 109
2519
845
328
1 346
2668
801
333
1534
2363
644
231
1489
1 373 92f 1 381 311 114 130 116 010 115 102 114 783 115 561 112 208 118,772 124 995 113,152 121,499
'626,749 664,108 53,521 56,615 55,672 56,448 56,415 54,282 58,368 62,287 54,350 58,033
'747 177 717 203 60609 59395 59430 58335 59 146 57926 60404 62708 58802 63466
137,139 148,245
'86 984 95353
'50,155 52,892
RETAIL TRADE t
All retail stores:
Estimated sales (unadj.),
total
mil. $., 1,379,621
Durable goods stores #
do
'517 981
Building materials, hardware, garden
supply, and mobile home dealers mil. $.. '75,556
Automotive dealers
do..., '311,859
Furniture, home furnishings,
and equipment
do..., '69,584
Nondurable goods stores
do.... '861,640
General merch group stores
do
'149 592
Food stores..
..do
'283 987
Gasoline service stations
do..., 101,266
'74 321
Eating and drinking places
.do.... 133,457
Drug and proprietary stores
do.... '46,191
Liquor stores
do
'19 491
Estimated sales (seas, adj.),
total
do
Durable goods stores #
do....
Bldg. materials, hardware, garden supply, and mobile home dealers#
mil. $.
Building materials and
supply stores
. . do
Hardware stores
. .. .. . do
Automotive dealers
do...
Motor vehicle and miscellaneous
auto dealers
do
Auto and home supply
stores
do
Furniture, home furnishings,
and equipment #
do
Furniture, home furnishings stores
.
do
Household appliance, radio, and
TV stores
do
See footnotes at end of tables.
26989
9303
3376
14311
25 170
8376
3352
13443
146,987 146 788 144,662 145,977 146,279
94505 95574 95647 96472 97 005
52,482 51,214 49,015 49,505 49,274
145,882
96958
48,924
147,964 149,009
97 991 97153
49,973 51,856
148,804
97,210
51,594
148,245
95,353
52,892
2058
111
264
1,017
2089
778
262
1,049
110,564 111,705 128,577
51,319 '52,834 61,517
59,245 '58 871 67,060
149,548 150,166
95,895 '95,989
53,653 '54,177
1,454,411 114,915 116,334 '126,087 '120,973 '121,446 '124,721 125,444 123,835 121,365 152,106 106,393 105,802
'568 057 '43 085 '46 383 '50 194 '49 099 '48 578 '49 027 '54 806 '48 479 '44 469 '56,692 '37,769 '40,164
'88,093
335,822
r
'78,487
'886,354
'155 262
'296 040
'86,618
'80 775
144^966
'49,316
19 792
'6,572
'26,040
'7,925
'28,049
'8,358
'30,384
'8,340
'29,513
'8,242
'28,795
'7,980
'29,061
'7,993
'35,043
'8,148
'28,072
'6,958
'24,224
'7,290
'6,822
'6,681 '6,572
'6,529
'6,251 '6,245
'5,855
'5,818
'71,830 '69,951 '75,893 '71,874 '72,868 '75,694 '70,638 '75,356 '76,896
'15512
'11 885 11 729 '13 153 '11 966 '11 485 '13 055 '11 757 '12 907
'24 391 '23 523 '25 822 '24 384 '25 643 '25 396 '23,837 '25284 '24,748
'6,711
'6,911
'7,482
'7,211 '6,979
'7,061
'7,149
'7,430
'7,491
'6 826 '7 570
'6449
'5947
'6 115
'6594
'7 106
'6794
'6 169
11,571 11,931 '12,663 '12,540 12,952 13,452 '12,119 '12,762 11,863
'4,044
'3,910
'4,041 '4,072
'4,129
'4,009
'4,113
'4,006
'3,876
'1 695 '1 549 1 630 '1 622
'1 558 1 526 '1 671 '1 663 '1746
117,259 '118 387 119,613 119,679 120,541 '122,156 '128,952 '122 121 '121,678
'43,712 '45,322 '46,047 '46,008 '46,604 '48,245 '55,010 '47,800 '47,408
'6,936
'29,542
'9,493
'95,414
'24 038
'26,938
'6,922
'11 426
12,476
'5,648
'2224
'127,613
'52,579
150,804
97,121
53,683
121,221 125,567
47,973 1 49,592
7,061
29,405
'8,283
' 29,854
6,478
'5,797
'6,288
'68,624 '65,638 73,248
'9,648 11,832
'9,276
'24,961 '22,746 24,555
7,072
'6,392
'6,641
6,561
'5233
'5377
11,843 11,412 12,614
4,153
'3,940
'4,182
1,464
1,363
'1,474
125,225
124,280
118,579
'43,766 '47,365 48,336
' 6,212
'1 75,975
12,703
' 25,148
1
7,270
1
7,440
12,866
1
4,211
'5,641
'20,897
'5,519
'24,048
'7,249
'7,603
'7,133
'7,167
'7,289
'7,416
'7,516
'7503
'7,504
'7,424
'7,652
7,756
'5277
'887
'24,975
'5695
'880
'26,257
'5334
'857
'27,120
'5324
'903
'27,002
'5441
'902
'27,137
'5502
'914
'28,554
'5478
'906
'35,231
'5554
'920
'27,983
'5 548 '5,743
'889
'904
'27,566 '32,388
'5,701
'974
'23,729
5,851
999
'26,968
5,904
1,050
27,936
'22 773
'24 065
'24 906
'24 791
'24 941
'26 320
'32 961
'25 740 '25 348 '30 256
'21,513
'24,709
25,697
'2202
'2 192
'2214
'2211
'2 196
'2234
'2270
'2243
'2 218
'2 132
'2216
2259
2239
'6204
'6280
'6432
'6547
'6682
'6679
'6 698
'6720
'6825
'6851
'6763
'6812
6890
'3 372
'3386
'3432
'3460
'3530
'3536
'3574
'3584
*"3591
'3618
'3570
3650
3,688
'2408
'2460
'2563
'2647
'2696
'2680
'2636
'2657
'2730
'2735
'2727
2687
2726
'7,365
1
125,384
'48,041
'7,712
1
27,688
'25,450
'6796
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
S-9
SURVEY OF CURRENT BUSINESS
May 1987
1987
1986
Annual
IT it
wnira
1985
1986
Mar.
May
Apr.
June
July
Aug.
Nov.
Oct.
Sept.
Feb.
Jan.
Dec.
Apr.
Mar.
DOMESTIC TRADE—Continued
RETAIL TRADE *— Continued
All retail stores—Continued
Estimated sales (seas, adj.)—Continued
Nondurable goods stores
..mil. $..
i
General merch. group stores
do...
Department stores excluding
leased departments
• do
Variety stores.
.
do
Food stores
....
do
Grocery stores
do
Gasoline service stations
.. .. do
Apparel and accessory stores #
do ....
Men's and boys' clothing and
furnishings stores . . . .
do
Women's clothing, specialty stores,
and furriers
do
Shoe stores
do
Eating and drinking places....
do
Drug and proprietary stores
do
Liquor stores
do....
Estimated inventories, end of period:
Book value (non-LIFO basis),
(unadjusted) total
mil $ 174 149
r
Durable goods stores #
do
89 260
Bldg. materials, hardware, garden supply, and mobile home dealers
do
13 780
r
Automotive dealers ...... ....
do
46 550
Furniture, home furnishings,
and equipment
do
13 373
r
Nondurable goods stores #
do
84 889
General merch. group
r
28 606
r
Department stores
do
22 597
Food stores....
do
18,591
Apparel and accessory
stores
do
15 852
Book value (non-LIFO basis),
(seas, adj.), total
do .. 179,671
r
Durable goods stores #
do
90 791
Bldg. materials, hardware, garden supply, and mobile home dealers .. do
14
429
r
Automotive dealers
. . do
46 550
Furniture, home furn.,
and equip
do
13 522
r
Nondurable goods stores # .
do
88 880
General merch. group stores
do . r31 498
Department stores
do . r24777
Food stores...
do ... 18 341
Apparel and accessory
stores
do
16 954
Firms with 11 or more stores:
Estimated sales (unadj.), total
mil. $.. r499,545
r
Durable goods stores...
.
.
do
55
566
r
Auto and home supply stores
do
6029
r
Nondurable goods stores #
do
443 979
General merchandise group
stores
do
138 683
Food stores
do
158 217
Grocery stores
do
155649
Apparel and accessory stores
do . r38011
r
Eating places ..
do
33 588
Drug stores and proprietary
r
stores
do
27 170
Estimated sales(sea. adj.),
total*
do....
Auto and home supply stores
do....
Department stores excluding
leased departments
do
Variety stores
.do
Grocery stores
do
Apparel and accessory stores
do
Women's clothing, specialty stores,
and furriers. .
do
Shoe stores
.
do
Drug stores and proprietary
stores...
do ....
73,547
12 905
r
73,065
12,969
»-73,566
12,892
r
73,671
12,882
'73,937
'73,911 '73,942
r
!3 018 rl3 189 12,941
r
74,321
r
10 r845
801
r
24487
r
23
052
r
7631
r
6,591
10r945
760
r
24 306
r
22908
r
7107
r
6,647
10r925
728
r
24 503
r
23
078
r
7,243
r
6,669
r
r
r
r
r
r
r
794
!0r 955
696
r
24 562
r
23 123
T210
r
6,743
r
803
816
r
llr 110 11r281
679
652
r
24
741 rr24 449
r
23~
302 22
963
r
r
6822
7 016
r
r
6,903
6,724
r
803
llr 087
658
r
24
847
r
23 336
r
6,883
r
6,793
809
810
r
r
2837
r
r
2 874
1 245
12
192
r
4,164
1,631
r
74,270
12,879
llr 090 11013
r
644
688
r
r
25,094
25,016
r
'23,587
23,487
r
r
6,842
6,876
r
r
6,794
6,848
r
r
80]
r
r
2733
2867
2826
2753
2 752
l 230 1*329
1 200 1 222 1 233 1 239
12
251
12
116
11 723 1r1 872 11991
12
Oil
r
r
r
r
r
4153
4,096
4,176
4,134
4046
4 033
r
1,639
1,669
l,692
1,678
1,666
1,688
r
r
!3,013
r
75,034
13,035
r
74,813
13,078
r
76,915
13,665
76,889
13,434
1
77,343
1
11r078
685
'25311
r
23,746
'6,813
r
6,935
11,126
r
724
r
25,028
r
23,588
'6,918
r
6,689
11,591
754
r
25,252
'23,806
'7,182
r
7,097
11,377
746
25,301
23,908
7,374
7,240
'1 1,307
r
r
796
803
801
2865
1288
r
!2,929
r
4,298
r
l,592
2997
1,358
13,147
r
4,297
1,628
2,989
1,399
12,845
4,277
1,621
'812
771
'794
r
2872
r
r
'2966
1299
12
770
r
4,221
r
l,585
2887
1 262 !265
r
!2 354 r!2,435
r
4,191
'4,188
r
l,593
1,663
r
13,372
1
25,535
1
24,159
1
1
1
7,472
7,259
12,789
4,266
1
181
366 187 065 188 846 185 613 184 326 184 668 182 627 185 444 r!98 292 r!99 726 r!81 366 183 672
r
93 330 r98 626 r99 356 r96 982 r96 809 r96 318 r92 286 r90339 r97 192 r98 621 r93 330 96785
15063
'42255
r
!4 791 14 623
'47,721 '48 997
14 078
r
48 162
14414
51675
!4 314 r!4 666 15369 15 608
90 341 T95105 101 100 101 105
14 627
r
88 036
14350
86887
r
29 253
'23 747
19,379
28958
23341
18,984
16 213
16044
158
184,906 185 686 187 935 187 483 186,034 190,645 189 264 !87
187 158 185 785 186,017
r
r
94 935 r95 966 r95788 r94 711 r95 681 r98 008 r97 387 r94 337 r97 810 r97 041 94 935
188,950
96699
r
14 078
48 162
r
15 179
53 238
15
556
r
52 755
15
245
r
50,904
14 627
88 036
13 548
r
88439
13 874
r
89 490
13712
r
88 631
r
29
r
253
23 747
19 379
r
30 971
r
24 559
18 570
941 r31 386
25 506 r25 122
18,395 18,581
16 213
17 Oil
17 282
r
r
31
r
16 904
14
998
r
50 959
14 934
r
50 333
14
726
r
45564
r
r
r
r
!4 076 13 912
87 517 r88 350
r
30450
r
24 311
r
r
30 885
r
16 574
r
!8 688
24*491
!8,373
r
31 685 r33979
25 191 '27*107
18,549 r!9',172
r
r
!7 055 17 657
18 366
r
37 108
^29
814
r
20,119
19 344
r
37 016
'29*972
20,242
r
19 329
r
14 757
r
48 128
14 766
r
50 490
14
943
r
49 636
14 772
r
48 840
14 806
r
49 631
r
!4
r
904 14756
51 629 r50 645
15 169
r
46 818
14880
r
50 250
r
!4
r
14875
49888
14748
92251
32503
26255
19035
952 14 757
49 421 r48 128
14 775
13 726
13 986
13 823
14 020
r
r
r
92 223
r
32 204
r
r
89 819
r
31 816
r
r
90 229
r
32 062
r
r
90 195
r
31 816
r
25 325
r
r
90 005
r
31 568
r
25 193
r
r
89 927
r
31 546
r
r
92 223
r
17 377
17 183
17 404
17 391
17 355
17 280
17 277
17 376
17 443
17 429
17 377
17534
r
519 881
r
61
494
r
6798
r
458 287
r
41 485
r
4 351
r
515
r
37 134
r
r
44 218
r
5222
r
583
r
38 996
r
r
r
r
r
r
46 940
r
5675
r
626
r
41 265
r
62 971
r
8259
'599
r
54 712
38,316
4238
504
34 078
144 840
164 634
161
812
r
42 178
r
35 989
11 103
13 607
13363
r
3493
r
2949
10 936 12 305
13 Oil 14 359
14 138
12*809
r
3 142 rr3434
r
2917
3063
r
!2 188 r!0 965 11 976 14 495
14 076 13 211 r!4 049 13 866
828 13 652
008 13
13
863 13
r
r
r
'4040
3491
3'342
3880
r
r
2983
3 271 '3 031 r3225
r
22 520
15 251
14*795
r
6413
r
3 071
8 619
14262
14055
2631
2953 •
'3593
44r 220
573
2416
44,119
587
10 679 10 r704
r
543
511
r
!3 762 13 788
r
r
3643
3552
10751
26038
19 138
r
28408
25137
18 636
r
2309
42r 895
548
25 455
18 474
40 356
r
4727
r
563
r
35 629
r
2 169
42r716
551
!8 743
r
2348
42r 802
545
!4 110 14 357 14 564 14 750
r
90 096 rr91 697 rr92835
r
31 253 31 859 32 614
25 171 r24 991 '25549 r26 337
!8 762 18 716 19 018 19 361 19 612
41 329
r
5040
r
561
r
36 289
41938
r
5288
r
625
r
36 550
ll 195 10 679
13 243 14 136
13
031 13 925
r
3 169 r3033
r
rg'228
3*031
r
2280
42r 975
542
r
2281
43r587
578
44300
r
5235
r
617
r
39 065
r
2318
43r 779
595
r
r
10 r563
677
13 350
r
3449
10r631
617
13 205
r
3464
10 591 r!0 646 r!0 800 10 965
r
r
r
r
591
531
526
563
r
!3 376 13 393 13 599 r!3 512
r
r
r
r
3452
3523
3510
3595
r
r
1r 436
729
1r 426
774
r
lr437
756
r
!488
r
767
1r 501 1r 503
830
771
r
r
r
2,329
r
2,373
-•2,371
2,321
2,332
43 946
r
5351
r
650
r
38 595
r
r
r
41070
r
5 035
r
581
r
36 035
!4 794 14 775
r
92 223
32 144 r32 204
r
25 927 rr26 038
19 355 !9 138
'2,397
r
r
2234
43r 595
585
r
r
2335
43r 873
597
r
!0 775 10767
r
r
534
515
!3 678 13 718
'3 542 '3558
r
r
2344
43r 717
596
r
r
1r 523
747
1P 516
740
1r 535
746
r
'2,407
r
r
'2,453
2,427
2,414
l 583
'771
549
13793
3579
1 573
789
2,530
LABOR FORCE, EMPLOYMENT, AND EARNINGS
LABOR FORCE AND POPULATION
Not Seasonally Adjusted
Noninstitutional population, persons 16
years of age and over
thous ..
Labor force @
do
Resident Armed Forces
do
Civilian noninstitutional population
do....
Civilian labor force, total
do....
Employed
do ....
Unemployed
do....
Seasonally Adjusted 0
Civilian labor force,
total
do....
Participation rate t
...percentEmployed,
total
thous ..
Employment-population ratio f.—percent ..
Agriculture
thous ..
Nonagriculture
do ....
Unemployed,
total
do ....
Long term, 15 weeks and
over
do ....
See footnotes at end of tables.
179,912
117 167
1706
178,206
115,461
107150
8,312
182,293
119 540
1*706
180,587
117,834
109,597
8,237
64.8
65.3
w.i
3,179
103,971
""60.7
3,163
106,434
2,305
2,232
181,678
118 002
1 693
179,985
116,309
107,643
8,667
181,843
118012
1 695
180,148
116,317
108,201
8,115
181,998
118 886
1 687
180,311
117,199
109,041
8,158
182,183
121 324
1*680
180,503
119,644
110 869
8,775
182,354
121 975
1*672
180,682
120,303
111 832
8,471
182,525
121 168
1 697
180,828
119,471
111,515
7,955
182,713
119 960
1 716
180,997
118,244
110,229
8,015
182,935
120 448
1 749
181,186
118,699
110 857
7,842
183,114
120 374
1 751
181,363
118,623
110,751
7,872
183,297 183,575 183,738
119 799 119 451 119 707
1740
1748
1750
181,547 ' 181,827 181,998
118,049 117,703 117,967
110,588 109,084 109,464
8,503
8,620
7,461
183,915
120 089
1736
182,179
118,353
110,229
8,124
184,079
120,082
1,735
182,344
118,347
111,041
7,306
117,187
65.1
108,807
60.5
3,252
105,555
8,380
117,292
65.1
108,969
60.5
3,199
105,770
8,323
117,587
65.2
109,165
60.5
3,151
106,014
8,422
118,005
65.4
109,613
60.7
3,164
106,449
8,392
118,117
65.4
109,887
60.8
3,124
106,763
8,230
118,124
65.3
110,067
60.9
3,057
107,010
8,057
118,272
65.3
109,987
60.8
3,142
106,845
8,285
118,414
65.4
110,192
60.8
3,162
107,030
8,222
118,675
65.4
110,432
60.9
3,215
107,217
8,243
118,586
65.3
110,637
60.9
3,161
107,476
7,949
119,034 119,349
65.6
65.5
111,011 111,382
61.2
61.1
3,236
3,145
107,866 108,146
7,967
8,023
119,222
65.4
111,368
61.1
3,284
108,084
7,854
119,335
65.4
111,835
61.3
3,290
108,545
7,500
2,243
2,130
2,232
2,299
2,250
2,272
2,373
2,168
2,217
2,171
2,050
2,075
2,200
2,131
S-10
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
1985
May 1987
1987
1986
Annual
*,-..
Units
1986
Apr.
Mar.
June
May
Aug.
July
Sept.
Nov.
Oct.
Apr.
Mar.
Feb.
Jan.
Dec.
LABOR FORCE, EMPLOYMENT, AND EARNINGS-Continued
LABOR FORCE— Continued
Seasonally Adjusted 0
Civilian labor force—Continued
Unemployed—Continued
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
White
. ..
Black
'....
Hispanic origin
Married men, spouse present
Married women, spouse present
Women who maintain families
Industry of last job:
Private nonagricultural wage and
salary workers
Construction
Manufacturing
... ...
Durable goods
Agricultural wage and salary workers ....
Not Seasonally Adjusted
Occupation:
Managerial and professional specialty
Technical, sales, and administrative
support
Service occupations
Precision production, craft, and repair....
Operators, fabricators, and laborers
Farming, forestry, and fishing
EMPLOYMENTS
Employees on payrolls of nonagricultural
Total, not adjusted for seas, variation
Private sector (excl. government)
Seasonally Adjusted
Total employees, nonagricultural
payrolls
Private sector (excl. government)
Nonmanufacturing industries
Goods-producing
Mining...
Construction
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay and glass products...
Primary metal industries
Fabricated metal products
Machinery, except electrical .
Electric and electronic equip
Transportation equipment...
Instruments and related
products
Miscellaneous manufacturing
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 trade
Retail trade
Finance, insurance, and real
estate
Services
Government .
Federal.;
State
....
Local
.
.
Production or nonsupervisory workers on
nonagric. payrolls, not seas, adjusted..
Manufacturing
.
Seasonally Adjusted
Production or nonsupervisory workers on
nonagricultural payrolls
Goods-producing
Mining ..
Construction
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass
products . .
Primary metal industries ...
Fabricated metal products
Machinery, except electrical. ,.
Electric and electronic equip
Transportation equipment
Instruments and related
products
Miscellaneous manufacturing.
See footnotes at end of tables.
14.8
10.5
4.5
5.5
10.1
7.1
6.0
6.4
19.3
6.1
14.8
10.5
4.2
5.3
9.5
7.2
6.2
6.4
18.8
6.2
14.8
10.9
4.4
5.3
10.1
7.1
6.2
6.3
18.9
6.1
14.9
10.6
4.5
5.2
10.0
7.0
6.2
6.2
17.9
6.0
14.2
10.5
4.4
5.2
9.5
6.8
5.9
6.1
18.0
5.8
14.6
10.8
4.2
5.1
10.1
7.0
6.2
6.2
18.5
6.0
14.6
10.9
4.3
5.1
9.8
6.9
6.2
6.1
17.7
6.0
14.3
10.4
4.6
5.0
8.9
6.9
6.2
6.1
18.2
6.0
14.2
9.6
4.5
5.0
9.7
6.7
6.0
5.9
17.3
5.8
13.7
10.5
4.3
4.8
9.8
6.7
6.0
5.9
17.7
5.9
14.3
10.6
4.2
4.8
9.8
6.7
5.9
5.8
18.0
5.7
14.3
9.6
4.2
4.8
9.5
6.6
5.8
5.8
18.1
5.6
13.9
9.0
4.1
4.5
9.7
6.3
5.5
5.5
17.4
5.4
13.0
9.2
4.1
4.4
9.3
7.0
13.1
7.1
6.9
12.5
7.1
13.0
7.2
6.9
12.1
7.1
12.3
6.9
6.9
13.4
7.2
13.0
7.4
7.3
15.3
7.1
12.4
7.2
7.0
13.2
7.1
13.0
6.9
6.7
11.4
6.9
12.4
6.9
6.8
13.3
7.0
12.9
7.0
6.5
12.9
7.0
13.8
7.3
7.2
11.9
7.0
15.1
7.1
6.6
10.1
6.8
13.7
6.9
6.4
11.5
6.7
12.2
6.8
6.8
11.6
6.6
11.6
6.8
6.8
11.2
6.5
12.5
6.9
6.7
10.7
6.2
11.9
6.2
6.2
9.0
2.4
2.4
2.4
2.1
2.2
2.4
2.8
2.7
2.7
2.5
2.3
2.1
2.5
2.5
2.2
2.1
4.8
8.8
7.2
.11.2
8.6
4.7
8.6
7.2
10.9
7.8
4.8
8.9
8.6
12.3
10.8
4.4
8.8
8.0
11.1
8.2
4.8
8.7
7.3
10.4
7.3
5.0
8.4
6.7
10.6
6.2
4.9
8.4
6.7
10.0
5.5
4.8
8.2
6.0
9.5
6.0
4.9
8.6
6.0
10.0
6.7
4.6
8.9
6.1
10.3
7.0
4.5
8.1
6.6
10.7
7.6
3.9
8.0
6.7
10.8
9.1
4.8
8.9
8.0
12.0
10.6
4.6
8.5
7.9
12.1
10.5
4.8
8.0
7.3
11.5
9.7
4.3
7.6
6.5
9.8
6.5
estab.:
thous..
do....
97,614
81,199
100,167
83,432
98,617
81,604
99,553
82,547
99,998 100,189
84,167 84,494
101,089
84,587
101,595
84,554
do
do....
do . . . .
do ....
do
do
do
.....do ....
do....
do....
do....
do ....
do....
do
do ....
do....
97,614 100,167
81,199 83,432
61,885 64,246
24,930 24,938
930
792
4,960
4,687
19,314 19,186
11,516 11,345
700
727
493
497
591
595
813
768
1,468
1,439
2,182
2,082
2,207
2,169
1,971
1,984
99,484
82,785
63,530
24,945
852
4,838
19,255
11,418
715
493
594
787
1,450
2,118
2,177
1,989
99,783
83,072
63,827
25,038
821
4,972
19,245
11,415
719
494
600
785
1,451
2,111
2,177
1,986
99,918
83,198
63,997
24,965
790
4,974
19,201
11,378
719
496
599
780
1,447
2,100
2,175
1,972
7.2
6.2
6.6
18.6
6.2
15.1
10.5
4.3
5.6
10.4
7.0
6.1
6.2
18.3
6.0
14.5
10.6
4.4
5.2
9.8
7.2
13.1
7.7
7.6
13.2
7.2
6.2
6.5
18.4
6:2
101,879 101,975
84,673 84,816
100,185 '100,494 '101,131 "102,091
83,289 '83,316 '83,856 "84,775
99,843 100,105 100,283 100,560 100,826 101,068 101,322
83,161 83,508 83,655 83,786 83,956 84,178 84,394
64,026 64,387 64,532 64,681 64,838 65,022 65,208
24,854 24,869 24,888 24,858 24,865 24,891 24,920
738
742
772
746
743
753
768
4,993
4,996
5,001
5,010
5,012
4,947
4,980
19,186
19,135 19,121 19,123 19,105 19,118 19,156
11,289
11,307 11,294 11,302 11,271 11,266 11,282
749
743
734
737
729
721
724
500
500
500
500
499
496
498
594
591
590
594
592
593
597
752
751
749
749
751
761
758
1,431
1,427
1,429
1,433
1,429
1,428
1,440
2,030
2,036
2,044
2,039
2,072
2,089
2,079
2,164
2,166
2,162
2,167
2,168
2,143
2,169
1,990
1,993
1,979
1,979
1,974
1,985
1,969
101,626 '101,854 '102,009 "102,325
84,708 '84,948 '85,054 "85,311
65,540 '65,737 '65,844 "66,087
25,008 '25,038 '25,004 "25,046
"740
735
'733
731
'5,059 "5,082
5,094
5,109
19,168 '19,211 '19,210 "19,224
11,265 11,300 '11,293 "11,293
"758
'755
'756
754
"507
'505
503
503
"597
'595
598
595
"759
'758
'751
741
'1,429 "1,432
'1,429
1,430
'2,043 "2,048
2,043
2,029
'2,141 "2,144
'2,153
2,156
'1,986 "1,971
'1,990
1,979
100,341 100,752
83,301 83,985
do
do . . . .
do
do
do ...
do....
723
369
7,798
1,608
65
704
717
367
7,841
1,641
61
709
726
369
7,837
1,632
63
707
723
369
7,830
1,633
63
703
721
369
7,823
1,640
62
705
717
369
7,828
1,648
62
707
713
363
7,827
1,645
62
710
713
364
7,821
1,642
59
711
713
363
7,834
1,644
60
709
713
363
7,852
1,644
59
711
710
365
7,874
1,654
61
717
709
370
7,897
1,657
60
719
709
369
7,903
1,654
59
722
707
'370
'7,911
'1,658
60
'726
708
373
'7,917
'1,663
'60
'728
"707
"370
"7,931
"1,665
"59
"726
do
do....
do....
do....
do....
1,125
683
1,435
1,046
178
1,115
690
1,479
1,027
164
1,117
688
1,469
1,031
166
1,119
689
1,472
1,028
166
1,113
689
1,474
1,024
166
1,106
690
1,477
1,026
164
1,108
687
1,483
1,025
163
1,108
685
1,481
1,026
163
1,110
691
1,485
1,025
162
1,113
694
1,491
1,023
161
1,112
694
1,493
1,023
160
1,124
697
1,493
1,020
159
1,123
694
1,500
1,021
159
'1,115
695
'1,505
'1,020
159
'1,113
'695
1,506
1,019
158
"1,117
"696
"1,514
"1,019
"158
do
do....
do
do.
do
do
790
166
72,684
5,242
5,740
17,360
801
155
75,229
5,286
5,853
17,978
804
160
74,539
5,280
5,841
17,828
800
157
74,745
5,266
5,864
17,851
796
154
74,953
5,265
5,872
17,911
797
151
74,989
5,167
5,829
17,944
792
152
75,236
5,288
5,849
17,992
794
152
75,395
5,255
5,863
18,030
797
151
75,702
5,316
5,859
18,065
805
151
75,961
5,316
5,864
18,143
809
151
76,177
5,351
5,859
18,197
815
153
76,402
5,359
5,859
18,206
819
152
76,618
5,382
5,864
18,289
820
153
'76,816
'5,394
'5,877
'18,368
"824
'822
"153
'153
'77,005 "77,279
'5,412 "5,415
'5,877 "5,882
'18,402 "18,469
do
do
do
do
do
do
private
thous..
do
5,953
21,974
16,415
2,875
3,848
9,692
6,305
23,072
16,735
2,899
3,937
9,899
6,184
22,707
16,699
2,923
3,927
9,849
6,228
22,825
16,711
2,914
3,938
9,859
6,261
22,924
16,720
2,899
3,936
9,885
6,295
23,072
16,682
2,875
3,927
9,880
6,334
23,176
16,597
2,866
3,921
9,810
6,364
23,255
16,628
2,875
3,919
9,834
6,388
23,300
16,774
2,901
3,932
9,941
6,409
23,359
16,870
2,896
3,959
10,015
6,429
23,451
16,890
2,899
3,965
10,026
6,472
23,578
16,928
2,907
3,983
10,038
6,495
23,670
16,918
2,914
3,983
10,021
'6,519
'23,752
'16,906
'2,917
'3,980
'10,009
'6,544 "6,581
'23,815 "23,918
'16,955 "17,014
'2,931 "2,937
'3,984 "4,003
'10,040 "10,074
65,635
13,130
67,455
13,023
65,795
12,982
66,672
12,997
67,369
13,008
67,976
13,076
68,085
12,871
68,387
13,051
68,481
13,145
68,460
13,089
68,569
13,074
68,698
13,043
67,134
12,893
'67,134
'12,945
'67,622 "68,468
'12,993 "13,026
private
thous
do....
do
do
do
do
do...
do..
65,635
17,459
660
3,670
13,130
7,660
587
394
67,455
17,467
554
3,890
13,023
7,495
610
398
66,916
17,454
598
3,795
13,061
7,545
602
395
67,167
17,546
573
3,913
13,060
7,547
605
395
67,261
17,475
547
3,903
13,025
7,519
605
397
67,223
17,388
535
3,874
12,979
7,462
606
397
67,517
17,395
533
3,901
12,961
7,441
604
398
67,632
17,429
526
3,932
12,971
7,458
610
400
67,742
17,407
520
3,927
12,960
7,438
615
401
67,854
17,408
522
3,912
12,974
7,435
618
402
68,076
17,452
, 523
3,909
13,020
7,452
623
400
68,255
17,483
520
13*053
7,466
627
401
68,463
17,552
511
4,010
13,031
7,440
628
402
'68,703
'17,581
516
'3,995
'13,070
'7,477
631
403
'68,777 "68,975
'17,550 "17,586
"523
'519
'3,955 "3,970
'13,076 "13,093
'7,476 "7,482
"634
'631
"406
405
do
do
do...
do ....
do .
do...
453
615
1,085
1,311
1,305
1,251
458
579
1,063
1,242
1,249
1,242
459
596
1,069
1,267
1,252
1,247
463
596
1,073
1,263
1,249
1,245
462
591
1,068
1,256
1,250
1,233
460
574
1,062
1,250
1,224
1,233
458
569
1,052
1,240
1,246
1,223
456
562
1,054
1,239
1,249
1,235
457
560
1,058
1,215
1,245
1,235
454
560
1,056
1,211
1,247
1,236
455
562
1,055
1,205
1,252
1,249
458
563
1,060
1,204
1,251
1,245
460
552
1,057
1,203
1,247
1,238
463
'562
'1,055
'1,212
'1,244
'1,252
461
'569
1,056
'1,214
'1,236
'1,246
"463
"573
"1,061
"1,220
"1,238
"1,230
do
.do ...
393
266
389
266
392
266
392
266
390
267
389
267
387
264
389
264
388
264
387
264
385
266
386
271
383
270
384
'271
'385
273
"386
"271
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
S-ll
SURVEY OF CURRENT BUSINESS
May 1987
Annual
-t
IT
unus
1985
1987
1986
Mar.
1986
Apr.
May
June
July
Sept.
Aug.
Nov.
Oct.
Mar.
Apr.
'5,600
'1,174
'45
'634
"5,611
"1,175
"45
"631
r
940
528
840
'572
102
'938
'528
840
'572
'102
"941
"530
"846
"571
"103
r
637
127
51,122
'4,464
'4,702
16,326
639
"642
"127
"51,389
"4,487
"4,708
"16,395
Feb.
Jan.
Dec.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT §— Continued
Seasonally Adjusted
Production or nonsupervisory workers— Continued
Nondurable goods
i
...thous..
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....
Service-producing
do
Transportation and public utilities
do ....
Wholesale trade
do ....
Retail trade
do....
Finance, insurance, and real
estate
do
Services
do
r
5,593
1,170
45
'632
5,470
1,122
49
608
5,528
1,153
46
613
5,516
1,145
48
611
5,513
1,145
48
607
5,506
1,149
47
610
5,517
1,160
46
611
5,520
1,158
47
614
5,513
1,153
43
615
5,522
1,157
44
612
5,539
1,155
44
616
5,568
1,168
46
622
5,587
1,168
45
624
5,591
1,167
45
627
948
516
793
579
107
941
524
824
572
103
940
521
817
573
103
943
522
820
572
103
938
523
820
569
103
933
524
823
572
103
936
522
828
572
102
935
519
825
574
103
937
523
827
572
102
940
527
832
571
102
940
528
833
572
102
951
531
837
569
102
948
527
841
571
102
610
137
48,176
4,342
4,616
15,458
624
128
49,988
4,371
4,697
16,001
625
133
49,462
4,373
4,693
15,867
623
130
49,621
4,362
4,712
15,880
620
127
49,786
4,361
4,711
15,939
621
124
49,835
4,270
4,674
15,981
617
124
50,122
4,354
4,705
16,018
621
125
50,203
4,325
4,708
16,045
624
628
632
634
636
124
50,335
4,387
4,700
16,091
124
50,446
4,393
4,694
16,153
125
50,624
4,424
4,693
16,187
126
50,772
4,441
4,694
16,193
127
50,911
4,448
4,696
16,267
4414
19346
4658
20262
4571
19,958
4683
20 064
4,629
20,146
4,651
20,259
4,683
20,362
4,704
20,421
4,716
20,441
4,723
20,483
4,745
20,575
4,771
20,673
4,789
20,711
34.9
34.8
43.4
37.7
42.3
37.5
34.7
34.9
42.3
36.4
34.6
34.8
42.0
37.6
34.7
34.8
41.8
37.9
34.9
34.7
42.0
37.8
35.0
34.7
41.6
38.3
35.1
34.8
42.3
38.4
34.8
34.7
42.3
38.5
34.7
34.7
42.2
38.0
34.7
34.8
41.6
36.5
34.9
34.6
42.6
36.9
34.4
34.8
42.8
37.3
'34.6
35.0
'42.4
36.9
34.6
34.8
'42.1
37.5
"34.5
"34.7
"41.8
"37.5
40.5
40.7
40.5
40.7
3.4
41.3
36
40.3
39.1
42.4
41.3
41.2
41.8
40.6
40.7
3.4
41.2
34
40.3
39.4
42.3
41.7
41.1
41.8
40.8
40.6
3.3
41.2
3.5
39.9
39.4
42.2
41.6
41.1
41.7
40.2
40.6
3.4
41.1
3.5
40.1
39.4
42.2
41.3
41.1
41.4
40.7
40.8
3.5
41.4
3.5
40.2
39.9
42.5
41.9
41.2
41.7
41.0
40.8
40.8
40.7
41.0
40.8
41.6
40.8
40.8
41.0
40.9
'41.0
3.6
40.8
'41.3
3.5
41.4
41.3
41.4
41.3
41.6
r
'4,809
20,821
r
128
'51,227
'4,482
4,707
'16,355
'4,823 "4,851
'20,860 "20,948
AVERAGE HOURS PER WEEK §
Seasonally Adjusted
Avg. weekly hours per worker on private nonag.
payrolls: ^
Not seasonally adjusted
hours..
Seasonally adjusted
do .
Mining $
do....
Construction $
do ....
Manufacturing:
Not seasonally adjusted
do...,
Seasonally adjusted
do ...
Overtime hours
do....
Durable goods
do....
Overtime hours
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
equip
do....
Transportation equipment
do....
Instruments
and related
products
..
do
Miscellaneous manufacturing $
do ....
Nondurable goods
do....
Overtime hours
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 trade
do
Retail trade.
.
do
Finance, insurance, and real
estate!
do ...
Services ..
do
AGGREGATE EMPLOYEE-HOURS §
Seasonally Adjusted
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 trade
do
Retail trade
..
do
Finance, insurance, and real
estate
do
Services
do
Government
do
Indexes of employee-hours (aggregate weekly): 0
Private nonagric. payrolls, total
1977=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 trade
do...
Retail trade J
.. . do...
Finance, insurance, and real
estate
do...
Services
:
.....do...
See footnotes at end of tables.
41.9
41.6
3.6
3.6
3.6
3.6
3.7
3.7
3.8
40.1
40.0
42.5
42.0
41.5
41.7
40.3
39.8
42.3
42.3
41.2
41.6
40.7
39.6
41.9
42.4
41.4
41.7
40.4
39.6
42.1
42.5
41.1
41.5
40.7
40.2
42.9
42.7
41.5
42.0
'41.2
40.1
'43.2
'42.7
41.8
r
42.2
'40.9
'40.0
'42.7
42.7
'41.4
'42.0
"40.4
"40.5
"3.4
"41.2
"3.6
"40.7
"39.2
"42.1
"42.2
"40.9
"41.9
41.2
42.6
41.2
42.6
40.9
42.1
41.0
42.3
41.0
42.1
41.0
42.3
'41.3
'42.7
'40.9
'42.6
"40.6
"41.9
408
38.8
39.8
34
40.0
35.9
40.9
41.0
39.2
40.0
34
40.3
36.2
41.4
40.7
39.6
39.9
41.1
39.8
39.9
41.2
40.2
40.1
41.3
40.3
40.1
41.2
39.5
40.1
41.3
'39.3
'40.2
33
3.4
39.7
38.5
41.6
39.8
39.1
41.5
40.0
38.4
41.5
39.8
37.7
41.9
40.0
37.4
41.7
r
41.5
. r39.3
40.4
3.5
'40:2
36.5
42.3
40.0
'38.4
'42.2
"40.8
"38.8
"39.7
"3.3
"39.9
"36.7
"41.5
36.5
43.1
378
41.9
44.0
36.6
43.2
379
41.9
43.5
36.5
43.5
38.0
42.1
44.3
36.7
43.0
38.0
42.0
43.4
36.7
43.0
38.0
36.9
43.2
38.1
42.5
, 43.8
37.0
43.4
38.1
42.2
43.6
36.9
43.6
38.0
42.3
45.0
r
37;7
43.6
'38.2
'42.2
'44.4
'37.1
'43.1
37.9
'42.1
'44.4
"36.2
"42.5
"37.9
"42.3
"44.0
412
367
39.2
384
292
413
377
39.1
383
291
40.5
37.0
39.2
38 3
292
41.2
36.7
39.1
384
29.2
41.6
36.8
38.9
382
29.2
41.4
36.8
39.1
38.4
29.1
41.7
37.2
39.3
38.3
29.3
42.3
38.1
39.0
38.2
28.9
41.6
37.3
39.1
38.3
29.0
41.5
37.2
'39.4
'38.5
'29.5
41.6
37.5
39.3
38.3
'29.3
"40.8
"36.3
"39.0
"38.3
"29.5
364
325
363
325
366
324
365
324
36.6
324
364
323
36.6
36.7
32.5
36.6
32.4
36.5
32.4
36.5
32.5
36.4
'32.4
"36.4
"32.3
18541
15233
1.89
928
4074
10.87
1168
2722
18582
15263
1.81
978
4058
10.75
1174
2712
18576
15256
1.72
968
4052
10.70
11 72
2717
18545
15240
1.68
954
40.32
10.71
11 61
2722
18590
152.91
1.66
966
40.23
10.80
11.66
27.31
18666
15349
1.65
978
40.44
10.69
11.70
27.38
18695
153.26
1.62
982
40.38
10.78
11.64
27.34
187 42
153.76
1.62
9.77
40.43
10.82
11.69
27.41
188.58
154.65
1.60
9.64
40.63
10.96
11.68
27.72
188.49
154.37
1.62
9.67
40.73
10.91
11.63
27.36
189.25
155.51
1.65
10.25
40.77
10.95
11.68
27.61
'190.92
'156.91
'1.63
10.18
'41.06
'11.07
'11.78
'28.22
1199
3937
3333
1181
3884
3308
1182
3903
3318
1183
3922
3320
1199
3932
3305
1204
39.56
32.99
12 14
39.70
33.17
1209
39.58
33.70
12.20
39.82
33.65
12.30
40.11
33.94
12.32
40.13
34.11
12.33
40.27
33.74
'12.38
'40.60
34.00
'12.38
'40.61
'33.93
"12.48
"40.66
"32.68
115.4
98.8
106.6
1254
933
92.7
94.3
124.5
118.1
98.9
87.4
1320
930
91.0
96.1
128.8
117.4
98.5
95.0
1266
933
91.7
95.7
127.8
117.8
99.4
90.2
133.7
93.2
91.5
95.8
127.9
117.7
98.8
85.3
1326
92.9
91.0
95.7
128.2
117.3
98.0
83.4
130.3
92.4
90.3
95.6
128.0
117.9
98.1
83.7
132.2
92.2
89.9
95.7
128.9
118;4
98.9
83.0
134.0
92.9
90.7
96.1
129.2
118.3
98.7
81.2
134.2
92.7
90.5
96.0
129.2
118.6
98.5
82.1
133.0
92.6
90.1
96.3
129.7
119.3
98.8
81.1
131.8
93.3
90.6
97.2
130.7
119.0
99.0
81.4
132.2
93.4
90.5
97.6
130.1
119.9
100.4
81.0
139.9
93.6
90.9
97.7
130.7
'121.1
101.0
'82.3
'138.7
94.6
91.9
98.5
'132.2
'120.6
'100.1
'82.1
'135.8
'94.0
'91.3
'98.0
'131.9
"120.5
"99.3
"81.9
"135.3
"93.1
"90.4
"97.1
"132.3
1071
117.9
115.9
1070
119.8
118.9
108.2
120.1
118.4
106.8
120.6
118.1
106.8
120.2
118.5
104.3
119.0
118.4
106.7
119.8
119.1
105.7
120.2
119.3
106.6
119.3
119.6
107.3
119.8
119.7
108.6
119.5
120.8
108.2
119.2
119.2
108.7
119.6
120.1
'109.9
'120.3
'122.6
110.1
119.8
'122.0
"109.4
"119.9
"123.1
129.9
138.9
137.6
145.5
135.6
143.5
135.4
144.2
135.8
144.8
137.6
145.2
137.8
145.9
139.1
146.4
138.7
146.0
139.7
146.8
141.1
147.9
140.7
148.2
141.3
148.4
141.8
149.7
'141.9
'149.5
"142.7
"149.7
33
41.2
35
39.9
39.4
419
41.5
41.3
41.5
3.4
41.3
35
40.3
39.6
423
41.9
41.3
41.6
40.7
40.7
3.4
41.4
36
40.2
39.4
41.9
41.9
41.4
41.6
406
426
410
424
41.0
42.7
41.1
42.1
41.0
41.9
41.0
42.2
41.1
42.1
41 0
39.4
396
31
40.0
37.2
39.7
41 1
39.6
39.9
413
39.7
39.9
40.0
37.6
41.2
413
39.9
39.8
32
39.9
37.5
40.7
40.2
36.6
41.3
409
39.4
399
34
40.2
37.7
41.1
410
39.6
39.8
32
40.0
38.3
40.8
36.4
43.1
378
41.9
43.0
36.7
43.3
380
420
43.7
36.5
43.5
380
419
43.8
36.9
43.0
380
41.9
43.6
36.5
43.2
380
420
43.4
41 1
37.2
39.5
384
294
413
369
39.2
384
292
413
363
39.6
385
293
411
36 3
39.2
385
292
364
325
365
325
367
325
18227
14958
210
9 19
4072
10.77
1146
2654
18648
15315
175
967
4058
10.80
1169
2730
11 28
3751
3269
3.5
3.5
422
43.7
324
3.5
3.5
3.5
3.5
3.6
3.7
3.5
'190.20 "188.94
'156.28 "156.26
"1.62
'1.62
"9.98
'10.00
'40.82 "40.44
'11.06 "11.02
'11.69 "11.71
"28.35
'28.10
S-12
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
SURVEY OF CURRENT BUSINESS
,, ..
Annual
Mar.
1986
1985
May 1987
1987
1986
Apr.
June
May
July
Sept.
Aug.
Nov.
Oct.
Mar.
Feb.
Jan.
Dec.
Apr.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS §
Average hourly earnings per worker: <>
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
equip
. do .
Transportation equipment...
... do ..
Instruments and related
products
do ....
Miscellaneous manufacturing
do ..
Nondurable goods
do....
Excluding overtime
.do ....
Food and kindred products
do....
Tobacco manufactures
. do
Textile mill products
do....
Apparel and other textile
products
do
Paper and allied products
do ....
Printing and publishing
do....
Chemicals and allied products
do...
Petroleum and coal products
do....
Rubber and plastics products, nee
. do
Leather and leather products
do....
Transportation and public utilities
do ....
Wholesale trade
do
Retail trade
do
Finance, insurance, and real
estate
do ....
Services
do ....
Seasonally adjusted:
Private nonagricultural payrolls ...
dollars .
Mining
do...,
Construction
do ....
Manufacturing
do ....
Transportation and public utilities
do ....
Wholesale trade
.
... do .
Retail trade
do....
Finance, insurance, and real
estate
do
Services
....do.
Indexes of avg. hourly earnings, seas, adj.: Q
Private nonfarm economy:
Current dollars
1977=100 ..
1977 dollars $
do....
Mining £$
do
Construction ....
.
do
Manufacturing
....do
Transportation and public utilities
do ...
Wholesale trade $$
do...,
Retail trade
do
Finance, insurance, and real
estate $$
do
Services.
do..
Hourly wages, not seasonally adjusted:
Construction wages, 20 cities (ENR): §§
Common labor
.
$ per hr
Skilled labor
do..
Avg. weekly earnings per worker,
private nonfarm: Q
Current dollars, seasonally adjusted
1977 dollars, seasonally adjusted t
Current dollars, not seasonally adjusted:
Private nonfarm total
dollars
Mining
do
Construction...
...do.
Manufacturing
do
Durable goods
do..
Nondurable goods
do..
Transportation and public
utilities
:
do ..
Wholesale trade
'....;
do..
Retail trade
do
Finance, insurance, and real
estate :....
do.
9.35
10.27
9.87
8.36
7.44
10.06
12.06
9.84
10.57
8.70
12.51
12.39
9.68
9.27
10.22
9.80
8.40
7.46
10.07
11.85
9.82
10.57
8.81
12.52
12.54
9.73
9.31
10.30
9.85
8.42
7.52
10.11
11.92
9.87
10.58
8.81
12.51
12.62
9.72
9.31
10.28
9.85
8.37
7.50
10.10
11.84
9.86
10.56
8.85
12.57
12.59
9.77
9.36
10.33
9.90
8.39
7.52
10.13
11.87
9.93
10.59
8.83
12.60
12.70
9.84
9.41
10.40
9.94
8.36
7.60
10.17
11.91
10.00
10.65
8.88
12.67
12.53
9.83
9.43
10.38
9.95
8.29
7.57
10.18
11.86
9.98
10.61
8.89
12.60
.12.46
'9.83
9.43
10.39
r
9.95
r
8.33
'7.55
10.15
11.88
9.98
10.65
'8.89
12.56
12.55
'9.84
'9.43
10.38
^9.94
'8.30
'7.55
10.14
11.93
'9.97
10.68
"8.89
"12.43
"12.54
"9.87
"9.48
"10.39
"9.98
"8.36
"7.55
"10.26
"12.11
"9.96
"10.65
9.61
12.78
9.68
12.78
9.67
12.75
9.73
12.87
9.72
12.87
9.75
12.92
9.85
13.00
9.86
12.98
r
9.86
12.94
'9.85
12.91
"9.87
"12.86
9.40
9.41
9.47
9.45
9.51
9.54
9.61
9.62
9.62
9.65
'9.61
"9.58
7.54
8.90
8.56
8.78
13.38
6.88
7.54
8.91
8.56
8.74
13.68
6.87
7.59
8.99
8.63
8.75
13.48
6.90
7.52
8.93
8.55
8.65
13.44
6.99
7.59
8.96
8.56
8.65
12.21
7.05
7.60
8.95
8.58
8.68
12.10
7.04
7.65
9.00
8.62
8.79
12.62
7.07
7.71
9.06
8.67
8.88
12.86
7.13
7.70
9.06
8.70
8.89
12.89
7,13
7.68
9.06
'8.69
8.91
13.38
7.13
'7.66
'9.08
'8.71
8.94
13.76
'7.14
"7.67
"9.14
"8.79
"8.98
"14.12
"7.18
5.81
11.05
9.87
11.82
14.16
5.78
11.12
9.91
11.89
14.02
5.79
11.15
9.88
11.94
14.14
5.76
11.31
9.96
12.04
14.16
5.79
11.17
10.00
11.99
14.07
5.87
11.20
10.10
12.03
14.20
5.82
11.20
10.08
12.08
14.18
5.83
11.17
10.11
12.15
14.26
5.86
11.24
10.14
12.20
14.36
5.89
11.17
10.14
12.17
14.40
'5.88
11.18
10.16
12.20
14.35
5.90
11.18
10.17
12.23
14.38
"5.92
"11.30
"10.18
"12.32
"14.33
8.68
5.89
11.55
929
601
8.75
5.88
11.57
9.32
5.99
8.82
5.89
11.61
9.30
5.97
8.81
5.90
11.61
9.32
5.97
8.76
5.93
11.70
9.37
6.05
8.76
5.92
11.68
9.35
6.04
8.81
5.98
11.75
9.46
6.07
8.86
5.98
11.71
9.47
6.05
8.87
6.03
11.73
9.4£
6.07
r
8.82
r
933
603
8.75
5.88
11.54
9.29
6.00
5.99
11.77
9.55
6.06
'8.83
6.04
11.75
'9.5£
'6.06
"8.81
"6.15
"11.79
"9.55
"6.06
8.34
8.16
8.30
8.18
8.29
8.12
8.31
8.10
8.37
8.10
8.30
8.04
8.33
8.05
8.37
8.19
8.38
8.22
8.54
8.31
8.46
8.31
8.58
8.36
8.71
'8.41
'8.69
8.4C
"8.63
"8.38
8.72
(i)
8.73
8.74
8.73
8.76
8.80
8.84
8.82
(i)
9.53
11.40
916
5.94
8.75
12.45
12.42
9.73
11.63
935
6.02
12.23
9.70
11.65
9.36
6.01
12.34
9.68
11.58
9.27
5.99
12.38
9.72
11.62
9.29
5.99
12.43
9.71
11.63
9.35
6.00
12.40
9.73
11.62
9.31
6.00
12.43
9.76
11.62
9.37
6.03
12.43
9.74
11.64
9.35
6.05
12.53
9.77
11.67
9.39
6.05
12.65
9.77
11.68
9.47
6.07
12.62
9.78
11.65
9.43
6.07
12.43
9.78
11.69
9.42
6.03
794
789
834
816
8.27
8.16
828
811
831
8.12
8.40
8.17
8.33
8.12
8.41
8.16
8.37
8.17
8.41
8.21
8.56
8.28
8.44
8.24
8.54
8.29
165.2
94.1
1789
1504
1686
166.3
169.0
1556
169.2
94.9
1813
151 5
1724
170.2
172.3
1581
168.5
95.1
1801
1492
1718
170.2
171.9
1574
168.4
95.4
1812
1506
1720
1693
171.3
1573
168.7
95.4
1811
1510
1725
170.1
171.4
1572
169.2
95.2
1814
1514
172.5
170.7
172.0
1578
168.9
95.1
1817
1508
172.7
170.3
171.4
1577
169.3
95.1
1815
151.3
172.9
170.1
171.7
1585
169.6
94.9
181.5
151.2
172.8
170.8
172.8
1591
170.0
95.0
181.4
152.6
173.1
170.9
172.6
1591
170.8
95.3
182.4
154.0
173.2
171.2
174.5
159.3
170.6
95.0
181.9
153.9
173.5
171.2
174.5
159.3
171 8
168.2
1799
1741
1792
1740
1789
1731
1793
173.4
180.5
174.3
1791
173.4
179.8
174.3
180.5
174.4
180.7
175.3
183.9
176.6
1595
2096
13 62
1637
21.46
13 84
1610
21.14
13 77
1612
21.20
13 59
1619
21.21
13 82
16.33
21.44
13 77
16.57
21.65
13 82
1657
21.69
1396
16.58
21.76
1394
16.60
21.75
13 84
29909
170.42
30450
170.88
30468
171.94
30346
171.93
30380
171.83
303.28
170.67
302.93
170.57
305.20
171.46
303.97
170.20
29909
519.93
464.09
38597
416.12
344.92
30450
52664
465.75
3960
424.98
356.3
302 93
52241
444.81
39560
426.42
352.54
30171
52206
46210
39285
423.54
351.65
30258
519.99
467.31
39423
423.54
354.22
30398
525.00
465.32
39576
424.76
355.51
30415
51834
471.47
391 55
417.99
356.00
30537
529.17
475.78
39398
420.04
358.09
450.30
351.74
17464
455.9
359.0
1757
457.83
357.34
17427
450.4
355.8
1736
450.06
356.74
17460
455.86
358.82
17671
457.4
358.0
1785
289.0
256.4
3044
265.2
304.6
265.0
3017
263.0
301.6
262.4
306.34
264.06
3029
263.7
875
12.45
12.42
973
9.33
1029
9.87
837
7.44
10.05
11.93
9.87
10.56
8.73
12.35
12.22
972
8.72
12.43
12.29
8.72
12.44
12.33
8.71
12.50
12.31
970
971
970
8.69
12.46
12.31
9;33
1030
9.88
8.33
7.35
9.93
11.99
9.88
10.58
9.33
1028
9.87
8.32
7.36
10.00
12.00
9.84
10.55
9.34
10.28
9.88
8.37
7.39
10.04
12.02
9.85
10.55
9.32
10.26
9.85
8.43
7.46
10.04
11.94
9.88
10.55
1272
967
12.86
9.62
12.90
9.62
12.83
9.64
12.79
9.16
9.46
9.41
9.41
730
8.71
8.38
8.57
1194
6.71
7.56
8.93
8.57
8.74
1277
6.95
7.51
8.88
8.54
8.74
12.76
6.86
7.50
8.88
8.55
8.75
12.84
6.87
573
10.82
9.71
11.56
14.06
581
11.14
9.97
11.97
14.19
5.80
11.03
9.90
11.78
14.22
854
11.40
8.72
5.86
11.62
916
594
876
5.90
11.63
935
602
7.94
7.89
857
857
1198
12.31
953
9.16
10 10
9.69
822
7.17
984
11.68
9.70
10.29
947
582
11.98
12;31
EMPLOYMENT COST INDEX @
Civilian workers t
6/81 100
Workers, by occupational group
White-collar workers
do..
Blue-collar workers
do..
Service workers
do
Workers, by industry division
Manufacturing
do..
Nonmanufacturing
do
Services.....
do
Public administration
do
HELP-WANTED ADVERTISING
Seasonally adjusted index
....1967-100
See footnotes at end of tables.
8.73
0)
13
(*)
r
8.86
'8.90
12.4(
'9.81
11.76
9.53
6.0]
12.58
'9.82
11.79
'9.56
'6.04
"8.88
(')
"12.59
"9.85
"11.83
"9.53
"6.04
8.63
8.35
'8.65
8.38
"8.62
"8.37
170;7
94.4
182.0
151.7
173.4
171.5
174.9
158.4
171.4
94.4
181.4
151.1
173.9
172.3
175.9
158.5
171.8
94.2
181.J
153.2
173.!
172.1
175.6
158.8
"172.2
"94.0
"180.9
"153.5
"175.0
"173.6
"176.1
"159.0
182.2
175.8
184.7
176.9
187.5
178.4
186.9
179.0
"185.6
"178.8
16.60
21.78
14 06
16.65
21.80
1418
16.66
21.83
1403
16.67
21.84
1428
16.67
21.85
1413
16.72
21.94
305.36
170.69
307.63
171.57
305.17
170.01
307.63
170.15
310.10
170.85
'309.72
169.90
"308.14
"168.20
30659
529.60
482.79
39893
428.48
360.19
30571
527.92
479.56
39658
424.56
358.00
307.10
522.91
459.54
40057
429.73
362.70
308.17
536.76
468.63
40934
438.88
368.74
305.47
542.28
467.37
401.06
430.77
362.40
'307.59
r
534.24
'459.77
r
401.06
'431.19
361.49
'307.59 "306.71
'528.78 "519.57
'470.63 "470.25
'402.46 "398.75
'431.8 "427.03
'363.20 "360.12
457.43
358.82
17850
457.47
358.87
17666
456.69
359.04
17516
461.78
363.26
17664
459.03
363.65
17848
453.95
361.57
172.39
'460.21
'363.86
174.53
'459.43 "457.45
'363.09 "363.86
175.13 "176.95
304.88
264.04
304.67
264.54
306.71
266.33
313.42
269.24
309.64
269.24
313.17
269.19
317.9
'271.64
'316.32
'271.3
8.77
C1)
C1)
(')
C1)
0)
8.84
C1)
C1)
r
0)
130
131
1330
1338
1350
133.
126.
134.
126.
136.0
127.8
136.9
128.4
138.
129.
135
136
138
127
131
138
136
128.
129.
130.
133
133
13
C1)
974
13
13
12
14
14
13
13
130.
136
145
144
135
143
141
134
142
140
132
139
138
14
14
14
14
14
"314.13
"269.84
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
S-13
SURVEY OF CURRENT BUSINESS
May 1987
'
Annual
IT . .,
vnus
1985
1987
1986
Mar.
1986
June
May
Apr.
July
Sept.
Aug.
Nov.
Oct.
Feb.
Jan.
Dec.
Mar.
Apr.
65,954
66,660
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
WORK STOPPAGES
Work stoppages involving 1,000 or more workers:
Number of stoppages:
Beginning in month or year
number
Workers involved in stoppages:
Beginning in month or year
thous
Days idle during month or year
do
UNEMPLOYMENT INSURANCE
Unemployment insurance programs:
Insured unemployment, all programs, average
weekly #@
thous
State programs (excluding extended duration
provisions):
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 1....
do
Insured unemployment, avg.
weekly
do
Beneficiaries average weekly
do
Benefits paid
.
mil $
Railroad program:
Applications
thous .
Insured unemployment, avg.
weekly
do
Benefits paid .
............mil. $..
11
54
68
2
4
324
27979
529
12 140
11
368
6
297
29
304
198
3684
47
895
2 662
2725
3 144
2799
2556
2474
2632
20840
19627
1 509
1 574
1391
1 422
1 819
1379
1 329
2580
2630
3048
2711
2479
2379
2534
2393
2247
29
2836
1 556
29
28
2563
1 469
2 189
1 261
29
28
2269
14*499
2328
15855
6
27
29
13
10
7
2
1
2
44
3
939
7
829
1 612
1 208
1412
9
941
2483
2335
2296
2478
2841
3276
1 525
1464
2164
2202
1,474
2204
2377
2729
3162
3048
29
27
2375
1 449
3.3
26
2619
1538
3.2
26
2744
1493
25
113
38
27
29
25
29
2 172
1 178
24
29
2 194
1309
2 119
1 160
1965
1 144
25
29
5
23
27
1 879
l'l47
25
27
1941
1031
3 155
25
23
25
22
20
20
23
21
21
22
24
25
27
148
148
12
12
12
13
15
12
11
11
11
14
13
13
20
18
20
17
20
19
19
17
1330
11 2
11 1
19
16
100
21
18
122
21
19
117
21
18
1302
18
15
99
11 9
17
16
108
17
14
83
18
16
107
20
21
109
20
18
105
25
26
35
30
22
16
17
18
21
21
23
33
38
35
66,437
64,480
67,009
65,920
64,952
64,974
65,049
65,144
FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers' acceptances t
mil. $..
Commercial and financial company
paper, total
do....
Financial companies.
.
do
Dealer placed
do....
Directly placed
do
Nonfinancial companies
do....
Agricultural loans and discounts outstanding of
agencies supervised by the Farm Credit Adm.:
Total, end of period
mil $..
Farm mortgage loans:
Federal land banks
do
Loans to cooperatives
do
Other loans and discounts
do .
Federal Reserve banks, condition, end of period:
Assets, total #
mil $
Reserve bank credit outstanding, total #
..
do
Loans
do
U.S. Government securities..... ..
do
Gold certificate account......
do....
Liabilities, total #
do
Deposits, total
do ...
Member-bank reserve balances
do....
Federal Reserve notes in circulation
do
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held total
i
mil $
Required
do
Excess
...
do
Borrowings from Federal Reserve
banks
.
do
Free reserves
:
do
Large commercial banks reporting to Federal
Reserve System: $
Deposits:
Demand, total #
mil. $..
Individuals, partnerships, and
corporations $$
do....
States and political subdivisions
do....
U.S. Government
do....
Depository institutions in U.S. £j:
do....
Transaction balances other than demand
deposits *
:
do....
Noritransaction balances, total *
do....
Individuals, partnerships, and
corporations
do ....
Loans and leases(adjusted),total § .
do . . . .
Commercial and industrial
do....
For purchasing and carrying
securities
do
To nonbank depository and other
financial .
do....
Real estate loans
do....
To States and political subdivisions 0
do....
Other loans
do
Investments total
.
....
.
do
U.S. Treasury and Govt. agency securities,
total Q
do
Investment account ^
do....
Other securities ^
do....
See footnotes at end of tables.
66,759
67,080
293,909 325,948
213 739 252 899
79,596 102,521
134 143 150 378
80,170 73,049
298,885 300,309 310,364
218 742 221 789 230 276
83,823 85,106 88,540
134 919 136 683 141 736
80,088
80,143 78,520
314,598
234938
90,463
144475
79,660
237 572 267 359
226 838 235 015 229 691 231 206 232 409 234 762 245 900 239359 243334
'68,413
64,974 .1 66,882
66,235
313,976 322,648
232718 239 498
92,146
88,537
144 181 147 352
81,258 83,150
326,967 329,955 326,536 325,948
243 295 244 066 243 300 252 899
96,458 96,470 94,829 102,521
146 837 147 596 148 471 150 378
85,889 83,236 73,049
83,672
267 359
333,719 337,325 337,133
257 734 263 186 262 702
102,725 103,891 103,594
155,009 159,295 159,108
75,985 74,139 74,431
253,456
243,485 254,382
273,590
195 296 224 285 186 185 193 259 191 111 193 221 193 151 195 158 202335 199 196 205 775 224 285 212 291 203 434 210 956 232,512
2,464
1,587
514
513
3060
1 565
557
806
879
952
1 565
913
'737
850
954
818
181 327 211 316 176 620 181 834 181 992 183 849 183 446 185 937 190 751 189 995 196 293 211 316 202,486 194,178 196,409 218,883
11,076
11,081
11,075 11,059
11,084
11,084
11,084
11,090
11,084 ^11,084
11,084
11,084
11,085
11,089
11,090
11,084
237 572 267 359 226 838 235 015 229 691 231 206 232 409 234 762 245 900 239 359 243 334 267 359 253 456 243 485 254 382 273,590
35179
51,013 41,355 46,394 65,713
37593 41733 38083 35887
39,503 56899
36 364 45313 40239 41475 56,899
34,588 37,133 41,973 35,149
28,631 48 107
36 966 38,296 48,107
36794
29416 31,329 31 940 30275 34570
30782
181 450
195 360
1 48 142 1 59 560
1
47 085 '58 191
'1058 1 1 369
177 189
178 418 181 634
183 040
184 198 185 349
47 274
46378
896
48 882
48 081
801
48 419
47 581
838
49 938
49 007
931
ig27
'580
761
203
893
19
876
56
803
236
290,510
200318
222 160 223,183 208 322 216,858 216 797
164,788 223,165
6,994
5,748
1,840
2,068
29,131 34,335
152,583
5,012
2,520
23,024
167,022
6,072
4,754
24601
1
\
1
318
204
220,230
41,799
482,622
60,082
509,176
446,601 471,044
717,700 797,180
255,245 289,168
22527
14271
25,279
179,122
33,257
202 270
153,310
28,463
209,348
34,539
221 391
187 583
85422
69,647
67,888
115 374
93,891
72,209
51 029
50 118
910
741
285
184 191 186 022
190 327
51 277
50 538
740
53 189
52 463
'726
54 623
53 877
746
56 399
55 421
978
872
12
1008
145
841
4
752
296
195 360
59 560
58 191
1 369
188 763 189 370 191 170 193 547
59 g@8
58600
1068
827
580
580
522
209 302 212 220 238 905 290,510
57 060 r57 061
55849 r56r 146
916
1 211
59392
58564
829
527
480
993
-44
556
726
r
228,664
220,771 215,387
229,261
163,666
4,907
2,563
24 297
181,882
5,720
2,751
27,935
223,165
6,994
1,840
34,335
174,212
5,311
2,373
25,628
170,336
5,315
2,118
25,767
167,711
5,066
2,013
24,000
176,896
5,585
4,378
24,219
43,198 44,323 44,433 45,133 46,546 47,933 48,662 50,499
494,275 490,165 492,205 492,320 495,338 499,034 499,451 498,662
53,312
500,622
60,082
509,176
57,268
515,117
57,780
518,349
59,152
518,410
60,280
516,142
166,909
5,051
1,861
27,045
158,886
5,854
1,896
23,968
165,772
5,101
2,834
25,077
455,090 451,865 453,483 454,064
729,963 738,952 733,880 735,619
258,894 260,964 258,072 259,807
458,438
736,814
256,816
16610
16538
20704
21964
24,061 24,328
185,250 187,513
36,416
36,640
204414 207 767
159,009 161 794
90 179
70,193
68,830
92526
71,031
69,268
18625
163,752
5,314
2,583
24502
159,969
5,111
2,979
24267
460,309 460,628 460,175 462,027 471,044
739,053 745,941 744,152 764,368 797,180
256,879 256,935 257,371 263,314 289,168
16742
16043
12946
18597
14271
476,464 479,110
793,512 784,854
282,511 281,062
15 452
13,798
479,866 478,065
782,125 794,953
280,043 277,688
13,904
20,435
24,812 25,860 25,592
28,463
26,414
26,735 26,691 26,984
189,826 191,371 194,224 196,606 199,107 200,283 202,831 209,348
36,371 36,005 36,335 36,269 35,472 35,320
36,216
34,539
206,329 205 600 207 639 205 756 210 896 211 096 217 892 221 391
160,763 161,948 172,634 176 920 178,385 180 155 185,946 187,583
24,071 25,543
25,450 24,180
213,637 215,634 218,439 221,069
34,403 34,298 33,508
34,847
221,615 215,777 211,370 216,710
182,104 184,101 180,250 180,056
102 034 107 951 113 889 115 374
82,108 87,881 92,428 93,891
72,209
72,057
76,351 72,204
113 734 116 590 112 955 110,606
95,698 96,759
95,410 95,357
68,370
67,511 67,295 69,450
92761
72,031
68,002
93681
73,507
68,267
103 278 102 778
81,938
80,689
74,142
69,356
S-14
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
SURVEY OF CURRENT BUSINESS
IT .,
ljnus
May 1987
1987
1986
Annual
1985
1986
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FINANCE—Continued
BANKING-Continued
Commercial bank credit, seas, adj.: §
Total loans and securities 0
bil. $ ..
U.S. Treasury securities
do ....
Other securities
do
Total loans and leases <>
do ....
Money and interest rates:
Prime rate charged by banks on
short-term business loans
percent..
Discount rate (New York Federal
Reserve Bank) @©
do....
Federal intermediate credit bank
loans
do
Home mortgage rates (conventional 1st
mortgages):
New home purchase (U.S. avg.).
percentExisting home purchase(U.S. avg.)
do....
Open market rates, New York City:
Bankers' acceptances, 90 days .
do
Commercial paper, 6-month $
do
Finance co. paper placed directly, 6-mo
do
Yield on U.S. Gov. securities (taxable):
3-month bills (rate on new issue)...percent..
r
1,900.4
273.1
177.6
1,449.7
2,089.8
r
309.9
196.9
1,583.0
9.93
8.33
1,944.6 1,960.5
1,978.3 1,998.2 '2,022.6 '2,044.6 '2,052.4 '2,063.5 '2,089.8
1,969.8
r
r
r
272.0
'309.9
'304.1
299.6
'284.7
275.7
269.5
'294.9
'291.5
275.8
196.9
189.7
186.3
183.3
197.9
199.8
'204.2
196.0
187.0
185.6
1,491.8 1,502.2 1,508.5 1,515.6 1,523.7 1,535.1 1,545.4 1,553.0 1,561.5 1,583.0
9.10
8.83
8.50
8.50
'2,118.3 '2,119.7
'315.2
'316.3
193.9
190.2
1,611.8 1,610.7
2,126.2
314.3
195.5
1,616.4
8.16
7.90
7.50
7.50
7.50
7.50
7.50
7.50
7.50
7.75
7.69
6.33
6.83
6.50
6.50
6.16
5.82
5.50
5.50
5.50
5.50
5.50
5.50
5.50
5.50
10.64
9.70
10.20
10.13
10.01
9.90
9.73
9.81
9.26
9.09
8.92
8.85
8.71
8.68
8.69
8.52
2
11.09
2
2
9.74
2
9.80
10.04
10.24
9.87
10.00
9.84
9.80
9.74
9.83
9.89
9.88
9.84
9.88
9.74
9.71
9.57
9.59
9.45
9.48
9.28
9.29
9.14
9.19
8.87
8.89
8.77
'8.80
8.86
8.83
7.92
8.01
6.39
6.39
7.09
7.08
6.48
6.47
6.54
6.53
6.60
6.63
6.23
6.24
5.80
5.83
5.60
5.61
5.58
5.61
5.67
5.69
5.96
5.88
5.74
5.76
5.99
5.99
6.09
6.10
6.41
6.50
7.75
6.31
7.10
6.44
6.33
6.53
6.24
5.90
5.54
5.50
5.58
5.74
5.60
5.79
5.88
6.14
7.470
5.960
6.590
6.060
6.120
6.210
5.840
5.570
5.190
5.180
5.350
5.490
5.450
5.590
5.560
5.760
11.18
7.10
CONSUMER INSTALLMENT CREDIT t
Not seasonally adjusted
Total outstanding (end of period) #....
mil. $..
By major holder:
Commercial banks ....
do
Finance companies
do ....
Credit unions
.. .. do
Retailers. .
do
Savings institutions *
do
Seasonally adjusted
Total outstanding (end of period) #
By major holder:
Commercial banks
Finance companies .
Credit unions
Retailers.....
Savings institutions *
.... .
By major credit type:
Automobile
Revolving
Mobile home
Total net change (during period) #
By major holder:
Commercial banks
Finance companies
Credit unions
Retailers... .. ..
Savings institutions *
By major credit type:
Automobile....
Revolving
Mobile home
.....;......... .
530,968
586,259
531,690
538,022
543,891
550,339
557,829
565,083
573,620
579,148
579,861
586,259
580,634 '575,288
574,126
245,055
113,398
72,715
42,776
52,720
264,829
136,581
78,508
44,679
58,391
246,189
117,165
72,303
38,976
53,321
249,717
118,827
72,875
38,870
54,160
251,195 252,679
121,646 125,078
73,311 74,033
39,316
39,315
55,788
55,020
255,551
128,293
74,727
39,177
56,523
258,169
130,425
75,950
39,548
57,398
260,168
137,136
76,913
39,518
56,424
261,142
139,951
77,778
39,796
57,129
262,457
138,160
78,056
40,702
57,278
264,829
136,581
78,508
44,679
58,391
262,999 '260,958
135,091 133,913
78,127 '77,793
40,660
42,440
58,588 '58,759
260,885
133,868
77,683
39,905
58,600
579,528
do
536,589
542,521
546,759
551,771
558,054
563,661
571,275
576,862
577,645
577,789
578,578 '579,591
do .. .
do
do
do
do
247,627
118,940
72,893
39,531
53,605
251,154
120,443
73,485
39,608
54,003
252,380
122,472
73,731
39,900
54,697
253,377
125,148
74,241
39 982
55',571
255,746
127,377
74,862
40,158
56,500
257,482
129,264
75,640
40,379
57,525
258,982 260,937
135,518 138,037
76,303 76,993
40,564
40,455
57,043
56,685
262,941
136,312
77,506
40,496
57,169
261,611
136,496
77,854
40,585
58,037
261,694 '262,106 262,344
135,802 136,009 136,050
78,284 '78,491 78,325
40,644
40,469
40,617
58,936
58,906 '59,031
do
do
do
do .
215,460
126,534
25,751
2,390
218,017
128,901
25,703
5,932
221,012
129,618
25,674
4,239
224,412
130,737
25,806
5,012
227,821
132,183
25,891
6,283
231,202
133,175
25,940
5,607
239,015
133,118
25,731
7,614
243,395
133,812
25,783
5,587
242,998
134,388
25,732
782
245,056
134,940
25,710
144
245,471 '246,064
134,916 135,663
25,852 '25,789
1,013
789
246,114
135,150
25,563
-63
do
do
do .
do
do
675
1,287
114
311
111
3,528
1,502
591
78
398
1,225
2,030
246
291
694
997
2,676
510
82
874
2,369
2,229
621
176
929
1,736
1,887
778
221
1,024
1,501
6,254
663
75
-840
1,954
2,519
690
109
359
2,004
-1,725
513
67
126
-1,329
185
348
88
868
82
-695
430
32
869
'412
207
'208
27
124
238
41
166
-176
-95
do
do
do ..
1,137
1,025
85
2,558
2,367
-48
2,994
717
-29
3,401
1,119
133
3,408
1,446
84
3,381
992
49
7,813
58
-209
4,380
694
52
-396
576
-51
2,057
552
-21
416
-23
141
'592
'746
' 63
50
-513
-226
::::::::::::::
FEDERAL GOVERNMENT FINANCE
Budget receipts and outlays:
1
Receipts (net) .
mil $
56,515 122,897
734,057 1 769,091
55,463
81,771
62,974
77,024
91,438
49,557
68,196
52,967
59,012
56,523 78,013
46,246
1
Outlays (net)
.. . . .
do
84,240
84,527
83,828
945,987 1 989,789
83,942
85,203
78,034
81,510
79,700
82,853
79,973
84,267
81,750
84,434
85,642
1
Budget surplus or deficit (— )
do..., -211,931 -220,698 -30,142
38,657
9,928 -39,396 -1,011 -22,229 -27,911 -3,737 -25,255 -27,006 -12,077 -2,170 -28,366 -28,012
1
1
Budget financing, total
..do
28,012 -38,657
28,366
2,170
30,142 -9,928
211,931 220,698
12,077
25,255
22,229
1,011
39,396
3,737
27,911
27,006
Borrowing from the public
do .... 1 197,269 1 235,745
9,075
7,884
15,248
4,353
14,213
8,441
22,824
5,936
14,980
18,500
17,960
40,352
22,188
20,278
1
Reduction in cash balances
do ...
20,128 -47,732
13,188
21,701
14,662 1- 15,047
7,249
21,436 -17,489
24,141
19,319 -13,346 -10,747 -2,183
7,633 -18,451
1
1
Gross amount of debt outstanding.... ............do .... 1,827,470 2,129,522 1,991,098 2,012,556 2,035,634 2,063,627 2,078,696 2,098,625 2,129,522 2,142,993 2,183,571 2,218,869 2,225,846 2,245,095 2,250,717 2,271,945
1
Held by the public
. . . .
do
1,509,857 1 1,745,602 1,637,483 1,651,696 1,669,656 1,688,156 1,703,136 1,723,414 1,745,602 1,751,538 1,791,889 1,814,714 1,819,067 1,834,315 1,842,199 1,851,274
Budget receipts by source and outlays by
agency:
1
Receipts (net), total. ..
mil $
734,057 1 769,091
56,515 122,897
81,771 55,463
62,974
77,024
46,246
91,438
49,557
59,012
78,013
56,523
78,035
52,967
Individual income taxes (net)
do.... 1 334,560 1 348,959
71,850
36,412
45,120
12,572
14,240
22,805
25,764
31,438
9,820
46,466
33,584
31,123
37,125
24,122
1
Corporation income taxes (net)..
do...
11,189
8,716
8,113
'63,143
61,331
13,114
936
3,374
10,667
1,448
3,460
540
11,448
1,075
15,693
1,748
Social insurance taxes and contributions
(net).....
mil $
' 265,163 1 283,901
31,756
22,785
33,646
25,590
21,564
24,399
28,745
23,689
25,664
23,507
23,738
22,267
21,751
21,179
Other
do
5,847
6,089
' 73,003 ' 73,087
6,213
6,598
5,546
6,233
5,472
6,131
6,181
6,170
5,933
5,945
6,492
5,345
1
Outlays (net), total #
do
945,987 1 989,789
85,642
81,510
79,700
84,240
85,203
78,034
84,527
83,828
84,267
81,750
84,434
83,942
79,973 90,112
1
Agriculture Department
do .... 1 55,523
5,763
58,666
4,536
3,749
5,444
4,754
3,877
5,758
3,290
4,629
6,433
5,985
5,733
3,300
5,178
Defense Department, military
do .... 1 245,371 1 265,636
22,234
23,034
21,842
23,105
23,484
21,858
23,758
24,073
22,857
21,598
23,498
23,288
20,197
22,525
Health and Human Services
1
Department
mil $
27,959
26,632
333,935
' 315,537
28,985
28,441
29,024
29,148
29,431
29,804
28,134
28,510
26,890
30,390
26,552
29,905
Treasury Department
do... 1 164,987 '176,160
13,255
12,683
12,641
13,525
13,651 24,517
12,047
13,744
9,721
11,917
12,988
25,557
13,910
7,965
National
Aeronautics
and
1
Space Adm
do...
632
380
'7,403
7,251
513
456
614
728
582
525
669
442
583
746
625
626
Veterans Administration.
do
2,332
1,072
' 26,333 '26,536
912
3,449
3,369
2,361
822
2,382
2,066
2,240
3,645
3,484
1,149
790
GOLD AND SILVER:
Gold:
Monetary stock, U.S. (end of
period) @
mil. $.
Price at New York .#
.....dol. per troy oz.
Silver:
Price at New York $$
dol. per troy oz.
See footnotes at end of tables.
11,090
317.299
6.142
11,064
367.867
11,090
345.420
11,089
340.552
11,085
342.457
11,084
342.788
11,084
348.850
11,084
376.852
11,084
419.014
11,066
423.617
11,070
398.806
11,064
391.225
11,062
408.260
11,085
401.318
408.914
438.721
5.470
5.039
5.229
5.115
5.153
5.049
5.218
5.683
5.667
5.596
5.364
5.529
5.488
5.682
7.428
S-15
SURVEY OF CURRENT BUSINESS
May 1987
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
Annual
„ ls.,
1987
1986
v
1985
1986
Mar.
May
Apr.
June
July
Aug.
Sept.
Nov.
Oct.
Feb.
Jan.
Dec.
Mar.
Apr.
FINANCE—Continued
MONETARY STATISTICS
Currency in circulation (end of period)
bil. $..
Money stock measures and components (averages
of daily figures): t
Measures (not seasonally adjusted): $
Ml
M2
M3
L (M3 plus other liquid assets)
Components (not seasonally adjusted):
Currency
..
Demand deposits
Other checkable deposits $$
Overnight RP's and Eurodollars <S
General purpose and, broker/dealer
money market funds
Money market deposit accounts
Savings deposits
Small time deposits @
Large time deposits @
Measures (seasonally adjusted): $
Ml
M2
M3
L (M3 plus other liquid assets)
Components (seasonally adjusted):
Currency
Demand deposits
Other checkable deposits JJ
Savings deposits
Small time deposits @
Large time deposits @
bil $
do
do
do
do
do
do....
193.2
593.9
2,482.0
3,102.9
3,684.8
673.3
2,681.8
'3,354.6
3,991.1
2,594.4
3,262.4
3,899.8
165.0
177.4
286.1
203.6
259.6
163.6
631.3
1993
653.9
2,631.4
3,299.7
3,927.2
652.5
2,637.9
3,306.5
3,937.8
212.0
2006
685.2
691.3
680.4
669.8
2,668.7 2,700.4 2,715.8
2,728.8
3,336.4 r3,368.5 '3,391.5 '3,414.9
3*971.3 '3,999.3 '4,023.7 '4,049.6
172.2
173.6
175.7
177.4
179.1
179.9
267.7
279.5
277.4
286.2
185.6
195.0
193.5
199.7
290.5
203.6
289.4
208.6
179.5
291.3
213.5
715.5
'746.5
698.9
2,757.1 2,777.7 '2,813.2
'3,437.5 3,463.6 '3,504.0
'4,075.8 '4,110.6 '4,154.2
180.9
293.0
218.5
183.2
300.1
226.0
186.2
'319.4
235.0
728.7
723.1
744.3
'2,832.0 '2,809.6 '2,819.3
'3,525.8 '3,509.1 '3,520.9
'4,185.7 '4,175.6 4,179.0
184.6
311.0
242.8
do
63.3
71.6
67,3
68.2
68.9
66.3
71.8
74.7
72.8
77.5
76.7
77.3
83.8
... do
do....
do
do
do
175.6
480.3
295.0
882.1
425.0
195.9
543.1
328.7
878.1
447.6
186.2
521.0
306.1
891.1
450.5
191.4
526.1
311.5
889.0
447.7
193.2
531.6
317.7
882.7
446.0
197.3
541.0
323.6
879.5
444.3
199.7
546.6
330.1
880.9
444.8
200.5
553.6
333.2
877.5
449.2
202.2
558.8
339.6
873.3
450.3
206.9
564.4
207.6
351.1
867.3
447.3
207.1
568.7
359.3
859.5
446.8
209.0
'574.1
376.4
'853.9
'451.0
640.5
2,598.9
3,264.3
3,895.1
648.2
2,623.8
3,293.1
3,920.2
659.6
2,647.3
3,314.8
3,952.0
693.1
701.4
do
do
do
do
do
do
do
do
do
do....
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Bureau of the Census):
Net profit after taxes, all manufacturing
:
mil $
Food and kindred products
do....
Textile mill products
do....
Paper and allied products
do....
Chemicals and allied products....
do....
Petroleum and coal products
do....
Stone, clay, and glass products . . .
.do
Primary nonferrous metal
do
Primary iron and steel
'
do
Fabricated metal products..
do....
Machinery (except electrical)
do....
Electrical and electronic equipment
do ...
Transportation equipment (except motor
vehicles and equipment)
mil. $..
Motor vehicles and equipment
do....
All other manufacturing industries
do . ..
Dividends paid (cash), all manufacturing
do
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds, total
By type of security:
Bonds and notes, corporate
Common stock.
Preferred stock
By type of issuer:
Corporate, total #
..
Manufacturing
Extractive (mining)
Public utility
Transportation
Communication.
Financial and real estate
State and municipal issues (Bond Buyer):
Long-term
.
Short-term
212.0
197.5
84,813
13,677
2,007
1,200
3,293
2,880
12,755
9,542
8,900
12,739
2,216
1,627
1000
798
1 349 -3,362
3,617
3,388
6,711
9,676
7,377
6,886
87,648
12,798
687.0
676.6
667.5
2,667.5 2,693.8 2,718.4
3,338.3 3,368.2 '3,396.0
3,972.6 '3,998.7 '4,026.9
173.8
174.4
175.8
176.7
177.6
274.6
277.7
282.2
285.0
186.0
306.6
892.0
448.5
189.9
311.1
893.1
451.3
195.5
316.8
888.0
447.6
199.6
321.8
883.0
447.6
288.2
204.5
327.4
880.9
448.3
179.0
291.2
210.4
334.6
876.7
449.4
2,736.3 2,760.7
'3,420.5 '3,441.0
4,055.5 4,081.4
712.4
730.5
2,775.4 '2,799.7
3,459.3 '3,488.8
'4,107.8 '4,140.8
179.7
181.2
182.4
292.2
293.4
220.4
350.4
864.7
445.7
297.8
225.9
358.5
214.7
341.4
872.2
448.5
571.3
365.5
'854.0
'448.0
857.1
445.9
183.5
308.3
232.3
366.2
'853.2
'446.9
19,669
2,720
27090
3,387
426
589
3,114
2,698
200
169
-350
919
1,386
1,694
525
922
3,737
4,220
699
259
398
1168
2,205
2,324
3,319
496
824
3,861
348
688
161
2 152
780
1661
1,489
19189
4,251
560
958
2,043
1,634
629
209
462
750
1,459
1,870
1,103
2,489
1173
2,891
1058
1,276
24
1,768
18,865
184.8
291.9
186.0
291.4
'240.1
^244.8
79.7
739.2
737.2
737.6
'2,821.8 '2,821.6 '2,825.5
'3,515.0 '3,518.8 '3,523.8
'4,174.3 '4,183.8 4,175.6
2,839.0
3,540.0
187.8
299.1
245.5
396.4
845.3
'449.7
303.9
250.5
406.3
186.0
305.1
187.2
'240.0
376.7
'851.1
'449.5
300.7
242.7
387.2
'847.7
'447.9
16,580
15,042
2,512
3,978
5,056
3,496
45,517
46,323
10,849
10,927
12,111
12,436
mil. $..
132,926
228,443
24,688
23,976
14,095
26,155
13,248
18,786
9,747
19,244
21,102
'24,875
'18,207
18,686
do....
do
do
86,279
36,432
6,374
158,128
54,839
11,374
16,234
'3,571
19,205
3,772
8,303
4,839
20,731
13,344
3,974
5,837
3,583
12,205
5,823
14,457
5,284
'17,305
'5,456
'13,430
'3,537
14,795
2,997
772
751
803
4,211
1,213
8,967
3,406
726
1,368
327
817
mil $
do
do
do....
do
do
do....
129,085
25,751
4,636
10,014
4,036
224,341
41,434
23,822
4,222
23,728
13,945
2,794
26,155
4,770
13,098
2,524
18,686
9,747
4,135
65,832
23,933
4,560
11,599
115,509
321
2,491
660
1,660
11,994
827
281
1,925 > 2,324
432
154
411
861
5,521
, 15,164
548
1,366
209
352
5,528
2,619
131
2,003
57
1,208
10,978
1,163
428
1,302
28
334
5,118
18,845
2,386
do
do
203,954
19,492
142,544>
20,111
7,642
11,940
3,834
13,262
280
11,747
4,489
21,025
4,893
25,208
391
1,793
28,390
36,480
29,090
30,760
32,370
32,480
33,170
2,715
4,880
19,000
2,715
13,920
3,065
14,340
2,405
12,970
2,585
13,570
2,570
14,600
65.4
62.8
60.6
804.98
730.56
4,153
4,610
214
2,596
782
1,937
11,432
218
1,987
728
437
11,030
4,130
364
1,914
15
641
11,804
6,986
11,761
544
342
34,550
34,580
3,035
14,210
77.0
211.8
565.3
406.3
838.6
450.9
3,358
8,424
1,062
188.0
305.7
257.2
211.6
570.3
'395.2
845.2
'452.1
210.7
'570.6
^ 384.7
'849.8
'450.8
3,594
9,087
20,803
77.1
757.4
2,847.6
3,548.1
1,018
'842
644
'23,779
'6,374
'17,809
'2,813
18,436
3,596
750.1
188.9
842.1
454.3
149
8
2,909
'1,616
318
999
'10,551
0
106
'12,099
34
2,491
324
359
10,650
11,554
16,538
7,420
'7,927
'14,476
6,306
1,215
1,026
366
500
'676
2,751
36,310
37,090
36,840
34,960
35,740
38,080
38,920
3,395
14,060
3,805
14,445
3,765
15,045
4,880
19,000
5,060
17,395
4,470
17,325
4,730
17,370
4,660
17,285
65.6
66.8
67.0
69.2
68.6
70.9
70.4
63.2
806.33
761.06
815.01
766.66
853.65
932.27
SECURITY MARKETS
Stock Market Customer Financing
Margin credit at broker-dealers, end of year
or month
mil $..
Free credit balances at brokers, end of year
or month:
Margin-account
do...,
Cash-account
do
12,840
Bonds
Prices:
Standard & Poor's Corporation, domestic
municipal (15 bonds)
dol. per $100 bond65.1
53.0
67.4
Sales:
New York Stock Exchange, exclusive of some
stopped sales, face value, total...
mil. $.. 9,046.45 10,475.40 1,064.44
See footnotes at end of tables.
958.56
63.1
852.42
788.96
928.52
71.1
880.80
S-16
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
SURVEY OF CURRENT BUSINESS
,, ..
May 1987
1987
1986
Annual
unils
1986
1985
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FINANCE—Continued
Bonds— Continued
Yields:
Domestic corporate (Moody 's)
percent..
By rating:
Aaa
do
Aa
do
A
do
Baa . .
do
By group:
Industrials
.
do ..
Public utilities
do....
Railroads
do
Domestic municipal:
Bond Buyer (20 bonds)
do....
Standard & Poor's Corp. (15
bonds) .
do
U.S. Treasury bonds, taxable $
do....
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) ..1941-43=10..
Industrial, total (400 Stocks) #
do....
Capital goods
do....
Consumer goods
do....
Utilities (40 Stocks)
do ,
Transportation (20 Stocks)
1982=100...
Railroads
1941-43-10.,
Financial (40 Stocks)
.. 1970-10
Money center banks f 1941-43=10 .......
Major regional banks f
do .
Property-Casualty Insurance
do ....
N.Y. Stock Exchange common stock indexes:
Composite
12/31/65-50 ,
Industrial
do ....
Transportation
do ....
Utility
do
Finance
do
NASDAQ over-the-counter price indexes: *
Composite
2/5/71- 100 :.
Industrial
do
Insurance
..
do
Bank
do
NASDAQ/NMScomposite....7/10/84=100
Industrial
do >
Yields (Standard & Poor's Corp.):
Composite (500 stocks)
percent
Industrials (400 stocks)
do
Utilities (40 stocks)
do
Transportation (20 stocks)
do...
Financial (40 stocks)
do
Preferred stocks, 10 high-grade
do ...
Sales:
Total on all registered exchanges (SEC):
12.05
9.71
9.79
9.51
9.69
9.73
9.52
9.44
9.55
9.54
9,37
9.23
9.04
9.03
8.99
9.35
11 37
11 82
1228
1272
902
947
995
1039
900
949
10 15
1049
879
921
983
1019
909
943
994
1029
913
949
996
1034
888
928
976
1016
872
922
964
1018
889
936
9.73
10.20
886
933
9.72
10.24
8.68
9.20
9.51
10.07
8.49
9.02
9.41
9.97
8.36
8.86
9.23
9.72
8.38
8.88
9.20
9.65
8.36
8.84
9.13
9.61
8.85
9.15
9.36
10.04
11.80
12.29
11 94
9.96
9.46
985
10.24
9.33
1005
9.98
9.02
978
9.85
9.52
958
9.95
9.51
972
9.85
9.19
973
9.73
9.15
9.69
9.68
9.42
9.57
9.68
9.39
9.65
9.58
9.15
9.56
9.49
8.96
9.37
9.31
8.77
9.19
9.25
8.81
9.22
9.23
8.75
9.13
9.40
9.30
9.30
9.07
7.23
7.15
7.33
7.70
7.51
7.54
6.93
7.19
6.94
6.74
6.85
6.56
6.59
6.93
7.85
9 18
10.75
738
8.14
707
8.13
732
7.59
767
8.02
7.98
8.23
7.62
7.86
7.31
7.72
7.14
8.08
7.12
8.04
6.86
7.81
6.93
7.67
6.63
7.60
6.67
7.69
6.71
7.62
7.62
8.31
541.56
1,328.23
157.58
645 11
796.65 843.73 865.48 857.52
698.61 712.53 709.96 721.67 744.53 753.06
693.86 706.04 699.26 715.91
702.50
1,792.76 1,757.35 1,807.05 1,801.80 1,867.70 1,809.92 1,843.45 1,813.47 1,817.04 1,883.65 1,924.07 2,065.13 2,202.34 2,292.61 2,302.64
221.59 222.36 217.77 204.62
189.33 202.28 210.95 205.35 201.41 210.14 210.82
188.34
183.48
186.35
195.24
925.78 942.43 931.24
861.96
78541 80440 802.01 789.55 784.47 737.39 743.80 772.85 825.43 838.43 835.97
186.84
207.79
188.75
184.52
82.97
166.62
123.17
2204
85.44
101.62
246.47
236.34
262.16
227.14
260.72
107.65
200.19
141.73
2836
115.71
114.41
312.67
232.33
256.25
229.34
248.55
102.01
212:11
156.43
3027
118.69
118.90
337.97
237.98
263.89
232.60
260.51
10378
208.18
148.69
30.12
125.26
120.46
329.19
238.46
266.38
231.79
265.98
102.39
201.88
142.02
28.93
123.55
120.82
325.94
245.30
274.55
236.16
279.47
106.65
202.31
144.23
28.85
124.21
121.92
312.46
240.18
266.17
223.40
283.70
112.13
187.79
134.52
28.58
119.89
115.83
310.66
245.00
270.23
226.20
280.30
118.53
186.18
131.50
29.51
122.42
116.52
320.60
238.27
263.62
229.12
263.60
113.11
189.86
133.04
27.85
115.88
112.04
308.53
237.36
263.09
219.49
262.82
114.01
205.27
135.51
27.59
110.91
110.12
302.91
245.09
272.79
227.85
272.91
114.10
206.35
141.50
27.14
110.79
113.60
290.71
248.61
276.69
234.51
272.63
115.52
204.75
140.70
27.89
115.90
112.15
303.73
264.51
296.10
251.85
291.32
120.09
212.07
148.13
29.26
121.19
116.03
316.67
280.93
318.18
275.49
315.13
119.87
224.37
158.02
30.21
121.00
115.37
336.07
292.47
334.65
288.16
333.68
117.65
227.30
163.02
31.00
117.56
118.22
343.87
289.32
335.43
291.95
326.16
109.97
222.25
160.27
28.42
111.12
110.72
301.46
108.09
123.78
104.10
5674
11421
13600
155.84
119.87
71 36
14720
13397
152.75
128.66
6806
15394
13727
157.30
126.17
6946
15507
137.37
158.59
122.21
6865
15128
140.82
163.15
120.65
7069
15173
138.32
158.06
112.03
7420
15023
140.91
160.10
111.24
7784
15290
137.06
156.52
114.06
7456
145.56
136.74
156.56
120.04
7338
143.89
140.84
162.10
122.27
75.77
142.97
142.12
163.85
121.26
76.07
144.29
151.17
175.60
126.61
78.54
153.32
160.23
189.17
135.49
78.19
158.41
166.43
198.95
138.55
77.15
162.41
163.88
199.03
137.91
72.74
150.52
290.19
30026
34023
28542
122.90
11222
366.96
36727
43057
41017
156.10
138 03
36823
367 53
45361
39852
156.36
13752
382.54
38669
44781
40920
162.60
14504
388.49
39559
44159
41821
165.17
14860
398.60
40489
44584
43431
169.52
152 11
385.89
38305
43753
44164
163.96
14359
375.62
37105
43850
433.17
159.79
13940
358.26
352.77
432.95
413.51
152.43
13263
355.03
35087
430.53
408.90
151.21
13221
358.08
358.46
412.84
420.74
152.54
135.33
354.92
355.31
411.03
416.83
151.55
134.71
384.23
391.37
437.87
454.22
164.48
149.00
411.71
428.59
458.29
495.54
176.34
163.54
432.20
453.66
460.48
516.69
185.03
173.09
422.77
449.35
429.80
493.22
180.64
171.20
425
376
8 12
2.86
4 21
10.44
348
309
654
2.43
3 22
876
350
313
678
2.26
3 00
913
343
305
668
2.39
3 03
897
342
302
681
2.38
3 12
900
336
295
660
2.38
3 14
8.89
343
304
628
2.56
3 15
8.66
336
299
597
2.59
3 08
8.42
343
304
614
2.54
3 22
8.10
349
308
637
2.45
3 33
8.17
340
299
6.19
2.39
338
8.07
338
2.98
6.13
2.39
340
8.18
3.17
2.78
5.88
2.30
325
7.91
3.02
2.62
5.95
2.19
320
7.93
2.93
2.51
6.00
2.16
310
7.52
7.94
1 199 420 1 704 334 156 551 162 190 137 360 127 537 147 992 130 677 147 892 144 742 139 546 160 605 184 309 180 038
4832
5056
4 599
3951
4 466
Shares sold
millions
4030
4*108
3738
37 046
4 040
3609
4500
48 229
3 757
On New York Stock Exchange:
Market value
mil $ 1 023 179 1 448 235 131 144 138 839 115 403 108 454 126 76' 111 220 127 758 121 600 117 883 135,712 156,482 155,749
- Shares sold (cleared or sei>
3,974
4,116
3,733
3,223
3260
3403
3046
3546
30222
tied)
millions
3317
2918
3034
3653
39 150
New York Stock Exchange:
Exclusive of odd-lot and stopped stock
3,930
3,966
3,486
4,041
3,261
2,941
3,017
3,167
2,702
sales (sales effected).....
millions.
3,030
2,649
3,240
3,215
27,511
2680
35,680
NASDAQ over-the-counter: *
46,065 46,987 50,933 44,773
32,824
233,454 378,216
Market value
...mil. $.
33,657 38,460 34,362 35,611 33,280 27,629 29,230 27,311 25,715
3,031
3,306
3,046
3,188
2,624
2,038
2148
2213
2119
2435
2591
28737
20 699
Shares sold .
millions
2414
2820
2597
Shares listed, NYSE, end of period:
Market value, all listed shares
bil $
1,950.33 2 199 26 2 204 12 2,165 55 2 260 99 2,289.30 2,163 40 2 279.44 2,127.30 2,237.28 2,266.61 2,199.26 2,470.60 2,563.18 2,628.71 2,581.26
60,338 60,991 61,860 62,518
59,062 59,620
52,427
Number of shares listed
millions
53,259 53,407 54,251 56,106 57,046 57,452 57,970 58,512
59,620
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
By leading countries:
Africa:
Egypt
Republic of South Africa
Asia; Australia and Oceania:
Australia, including New
Guinea
Japan
See footnotes at end of tables.
mil $
do
do
212 792 0 216 639 5 18 559 1 18 001 4 18 270 6 19 092 5 17 346 2 16 897 8 17 531 1 19 563 3 18 412 6 18 523 5 16 421 2 18 660 2 210639
212 778 9 216629 1 18 557 0 18 000 7 18 270 3 19 092 0 17 345 8 16 894 8 17 530 5 19 561 6 184113 18 522 7 16 419 6 18 659 1 21 063.2
do .
do
do
do
do
do
do
7 388.1
60 745 3
6399 1
599780
47 257 6
19 991 2
11 022 3
5,9782
64 531 8
66585
63 631 2
45 334 7
19 126 3
11 949 8
4837
5424 1
831 2
59604
36592
1 673 5
8809
do
do .
23228
1 205.0
19818
11583
do.. .
do
5,481.1
22 630 8
56025
26 881 6
577.9
51564
6224
56647
3911 2
1 5767
10698
574.4
55279
5077
5,547 7
37190
1 5332
1 0207
425.1
45671
5303
4,743.5
38186
15472
7895
472.6
5 163 4
4303
6,060.5
40629
1 5960
8745
546.7
60866
509.5
6,612.6
4 547 2
18640
8955
1580
948
2727
993
2476
1009
1693
79.7
1915
92.7
2174
96.7
5052
22859
551.5
1 9901
4458
23049
455.7
17854
360.7
20346
439.2
21386
450.9
4919
566.4
465.1
59785 57474 48192 55737
5392
5670
511 0
5753
48302 49780 5 007 4 57483
3 1726 30948 4 H95 4 176 1
1 5944 1 5499 1 493 1 1 662 0
1 1285 1 1205 1 043 2 1 100 1
468.5
5 1840
4333
52900
4058 1
1 6326
8982
437.5
47402
5255
51637
37809
1767 0
9982
485.3
67939
4772
48417
38576
1 5740
1 0355
1518
983
1320
923
141 1
955
1639
1014
1330
922
149.8
131.0
1069
972
6888
1998 1
370.0
1 905 8
4622
17322
4083
38605
4259
2941 0
463.3
22724
443.3
20152
S-17
SURVEY OF CURRENT BUSINESS
May 1987
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
Annual
....
1987
1986
Units
1985
1986
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF EXPORTS—Continued
Exports (mdse.), incl. reexports—Continued
Europe:
France
mil $
60957
72159
German Democratic Republic
do....
679
72.3
Federal Republic of Germany
do....
9,050.0 10,560.5
Italy
do
46252
48383
Union of Soviet Socialist Republics
do
2,422 8
1,247 5
United Kingdom
... ... do... 11,272 9 11,418 2
North and South America:
Canada
do
47 251 1 45 332 6
Latin American Republics,
total #
do
27 849 8 27 968 0
Brazil
do
38853
3 1396
Mexico
do
13 634 7 12 391 6
Venezuela
do
33994
3 141 0
Exports of U.S. merchandise, total §
do.... 206,925.3 206,376 2
Excluding military grant-aid
.do .. 206,912.2 206 364 1
Agricultural products, total
do ... 29,241.5 26 061 0
Nonagricultural products, total
do .... 177,683.8 180,315 2
By commodity groups and principal
commodities:
Food and live animals #
mil $
19,267.9 17 302 6
Beverages and tobacco
do ..
2,958.2
29202
Crude materials, inedible, exc.
fuels # ... .
do
16 939 5 17 323 8
Mineral fuels, lubricants, etc. #
do....
8,114.5
9,970.9
Oils and fats, animal and vegetable
do
1 0149
14340
Chemicals
do . 21,758 7 22 765 8
Manufactured goods #
.. ..
do.... 14,008 9 14,005 0
Machinery and transport equipment,
total.
mil $
94 278 4 95 289 5
Machinery, total #
do
59 488 2 60 396 8
Transport equipment, total
do.... 34,790.2 34,892.7
Motor vehicles and parts
do .. 19,364 0 18 575 0
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
;
do
Republic of South Africa
do ....
Asia; Australia and Oceania:
Australia, including New
Guinea
mil $
Japan
do
Europe:
France
do
German Democratic Republic
do....
Federal Republic of Germany
do....
Italy
do
Union of Soviet Socialist Republics
do
United Kingdom
do
North and South America:
Canada....
do
Latin American Republics,
total # .
do
Brazil
.
do
Mexico.
do . .
Venezuela
..
do
By commodity groups and principal
commodities:
Agricultural products, total
........mil. $..
Nonagricultural products, total .
do ....
Food and live animals #
do....
Beverages and tobacco
do....
Crude materials, inedible, exc.
fuels #
do
Mineral fuels, lubricants, etc
do....
Petroleum and products ..
do ....
Oils and fats, animal and vegetable ., . ..
do
Chemicals..
do....
Manufactured goods #
do ....
Machinery
and
transport
equipment. .
do
Machinery, total #
do
Transport equipment
do
Motor vehicles and parts
do
792
2,070.8
111 5
2,364 5
6010
3.0
1,084.7
4830
729.3
15.5
1,046.3
501.8
620
988 2
442
10168
47.0
9767
31.4
819.4
51.2
1,149.2
67.9
1,371.8
4 1759
39111
37190
38185
40627
45471
546 1
1.2
777.8
4789
571 6
16
710.1
3204
6006
9
859.0
3432
6380
5.3
821.3
3610
6449
!9
1,051.8
4258
1716
11667
1844
9267
749
9600
901
9611
55 1
8627
665
9337
408
8780
36592
40573
37809
38575
3 1724
3 094 7 4 1194
22829 22569 24767 23894 24726 24528 23149
4125
2639
242 1
2469
'4410
3362
301 6
10294 1 1009 1 121 0 1 0607 1 039 1 1 009 6 964 9
3224
2632
2345
2443
2984
2792
2540
18 349 2 17 376 0 16,690 7 16,426 5 15 911 3 16 830 8 16 860 4
18 347 1 17 375 3 16 690 4 16,426 0 15 910 9 16 827 8 16 859 8
23996 2,120 4 1,859 9 1,682 9 17033 1 885 3 1 915 1
15 949 6 15,255 5 14,830 8 14,743 6 14 207 9 14 945 6 14 945 4
2497 1
388 1
1 087 1
248 2
18 594 1
18 592 4
2 434 8
161592
16381
2281
1 431 9
2737
12225
2524
1,169 1
2260
12337
2043
1 4520
1962
1 6389
621.7
1 5420
790.7
1 4046
728.1
1 1195
5841
1 040 3 1 2757
'661.1
652.8
1 238 3 1 5572
657.4
67o!o
888
20008
11967
1034
18576
11695
948
1,934 1
1,199 6
724
1,844 6
1,083 9
707
18015
10731
980
2 049 7
11790
918
1 942 0
11890
86938
53122
3,381.5
16750
82622
51299
3,132.2
18205
7 762 2
48921
2,870.1
16901
80486
4 885 0
3,163.6
17322
73909
47637
2,627.2
1 249 2
7 347 4
5 1182
2,229.2
9966
7 785 5 86789
49203 5 377 1
2,865.2 3,301.8
1 649 3 1 6163
7799
831 5
5934
9431
13,028.1 11,157.7 11,903.4 13,295.4
2646
3128
3155
2960
8 128 1 7 5433 7 515 6 84097
59237 58220 59231 57123
20651 18523 22503 17243
1 568 1 1 4802 1 6355 14944
14650
2070
16045
2095
r
'
7998
9173
15,033.5 12,914!o
2828
3900
86303 7 127 5
54764 5 225 2
2 1464 17569
1 5267 1 3694
23497 22568 20888 22068 25052
2519
2455
2275
3527
3704
9452 10167 10309 1 276 8
9458
2362
2277
2017
2640
2794
17 895 0 17 777 4 15 879 7 17 958 7 20 338.6
17 893 7 17 776 6 15 878 1 17,957 6 20 337.9
25121 25664 2,165 1 2,220 8 24162
15 382 9 15211.0 13,714.6 15,737 9 17,922 4
15230
3395
14725
3883
1 642 2 17253
619.7
641.2
554
597
1 935 6 18974
1 228 0 1259 1
8 107 4
51579
2,949.5
1 6017
14028
2357
15619
2978
1 435 4 16056
573.3
564.3
1 7063
619.9
12866
2918
743
19079
11873
587
1 759 1
1 1414
590
19190
1,317 4
733
23430
14695
80490
52385
2,810.4
13294
6 903 3
4*4303
2,473.0
14559
8 438 9
52286
3,210.3
1 683 4
9521 4
6008 1
3,513.3
17882
303974 r32 948 4 r32 291 9 r29 579 8 27 466 4 32 306 7 33 196 7
8514
12,076.9
281 2
6 532 8
5,571 6
1 851 7
1 529 7
7702
8307
5743
8690
8277
8203
13,198.2 15,640.0 11,060.4 12,008.5 13,495.3 13,475.6
3050
3395
3174
3222
3650
3005
6 793 7 90998 74338 6285 1 76406 87717
5,719 0 66824 4,862.1 5,430.7 5,930.4 5,987.0
1,728 4 20556 1,861.6 1,531.4 2,376.1 2,245.4
1 458 0 1 5164 1 3862 13190 1 694 1 1 6419
50
1564
270
2166
125
1998
11 5
1770
142
251.0
76
127.2
76
892
90
1155
1774
7240 1
1880
2737
8 101 9 66944
1878
58842
2225
69956
2774
8392 1
2617
58828
2385
59005
2515
68245
2144
68042
926 7
77
2,058 8
902 5
944 8
78
23345
1 067 5
8024
70
2,064 5
989 1
682 0
83
1,827 0
706 5
730 6
62
1,944 2
7969
9928
76
2,575.9
1 0229
7325
6.1
2,107.6
796 7
6636
4.2
1,793.5
7378
8452
5.7
2,088.2
8884
8503
10.6
2,582.3
9569
27 1
42 1
31 6
1980
1 232 1 1 519 1 1 289 2 1 1273
479
1 2416
254
1 0986
505
1 511 0
196
1 361 2
297
1 092 6
308
1 431 1
265
1 5054
5 571 6 5719 0
6 681 4
4861 9 : 5 429 9
59293
59860
34
1454
42
1751
44
1759
2,870.4
68 782 9
2244
2,676 6
81 911 1 7 1854
237 9
63332
1913
6439 1
94819
91.5
20,239.2
96737
10 128 6
865
25,123.7
10 607 4
8938
90
2,163.8
9378
9214
72
2,030.7
8057
9020
85
2,131.0
798 2
4086
14 937 3
5582
15 396 0
29 1
1 2885
220
1 2199
69 006 3
68 252 6
59229
5821 1 59225
43 447 5 39 541 2
7 5262
6*8129
19 131 8 17,3017
65370
50967
5195
2.0
863.2
4338
5246
1.2
763.3
4143
30
2107
5711 7
198
2282
54756
5224 8
3?411 8 3 170 5 36751 3 037 4 3 501 8 2 934 6 3 207 5 3 037 1 3 382 5 3 073 5 2 701 1 3 826 4 36968
'664 4
5967
517 5
492 9
518 6
5644
5966
5551
5554
5137
539 9
530 1
'5994
14877 1 376 9 1 707 2 1 237 9 1 667 0 1 249 7 1 381 3 13113 1 525 1 1 382 1 1 1559 1 827 3 17129
4259
391 2
3822
5044
3667
5189
3536
414 4
4668
'3609
383 6
416 0
364 8
20,004.5 21,284 4 18612 17795 20458 1 601 5 17895 1 6088 1 6357 1 6199 1 8692 1 651 6 1 5258 17742 2 032 4
325,271.0 348,676.9 30,110.3 26,982.1 28,226.5 30,162.2 32,331.2 27,866.7 27,059.6 28,398.1 34,317.6 26,143.6 25,940.6 30,532.5 31,164.3
18,649.3 20,802.5 1,799.2 1,721.8 1,982.9 1,586.4 1,826.8 1,609.4 1,653.3 1,578.4 1,918.0 1,590.1 1,476.8 1,753.1 1,943.8
3,726.7
296.2
300.8
346.1
346.1
3,866.1
322.2
322.0
316.4
299.2
360.3
302.0
409.8
356.3
309.9
10 391 2
53,917.1
49,606.6
10 431 5
37,309.9
34,140.4
8953
3,330.7
3,023.7
9663
2,175.5
1,952.5
9132
2,700.3
2,500.2
9384
3,184.6
2,954.8
9802
2,933.3
2,689.4
8655
2,510.6
2,293.7
9098
2,933.0
2,719.9
8166
2,662.2
2,437.7
8066
3,014.3
2,724.1
6873
2,646.7
2,441.1
7787
2,564.2
2,335.2
9889
891 5
3,439.9 3,119.5
3,105.1 2,972.2
6722
14,532.8
46,451.2
5159
15,000.7
48,825.9
576
1,362.3
4,225.9
34 0
1,275.2
3,782.0
458
1,228.5
4,015.9
404
1,236.2
4,113.9
490
1,359.5
4,738.4
368
1,188.3
4,032.4
31 2
1,153.2
3,909.1
352
1,106.2
3,933.1
446
1,353.7
4,737.1
369
1,208.3
3,518.6
345
1,136.8
3,886.0
342
1,305.2
4,126.3
14 874 9 12 714 8 12 136 2 13 548 3 16 403 9 12 354 2
8,220.3 7,157.7 6,920.7 7,318 9 8,970 9 6,616 0
66546 55571 52155 62294 7 433 1 5738 1
6 023 3 51180 46636 57089 67766 5231 1
11 849 1
6,362.0
5487 1
5 063 0
137 263 5
75,298.7
61 964 8
557397
See footnotes at end of tables.
182-993 - 87 - S2 QL 3
10 348 1
153,869.1
37170
91 826 0
68,259 0
23,465 0
18 477 2
5376
27.2
975.8
4129
6458
14
919.3
3929
345,275 5 r365 819 9 r29 186 6 r30 977 7 r29 831 3 r31 368 9 r32 104 8
11 964 3
131,884.2
3 819 3
81 692 1
69,014.4
25,969.5
20 931 6
601 1
9.8
1,068.8
4614
6144
115
917.7
432 1
161 561 6 14 144 9 13 187 3 134264
87,548.6 7,888.1 6,917.9 7,077.9
74 013 0 62567 62693 6 348 6
66,5724 54845 5 442 4 5 660 3
13 908 1
7,231.9
66762
60887
481
1,422.9
4,442.1
14 391 0 14724 1
7,724 9 8,301.5
6666 1 64226
60753 58454
.: : : : : : : :
S-18
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
SURVEY OF CURRENT BUSINESS
IT«I*. '
units
1985
May 1987
1987
1986
Annual
Mar.
1986
Apr.
May
July
June
Oct.
Sept.
Aug.
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
FOREIGN TRADE OF THE UNITED STATES—Continued
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Unit value
1977=100 ..
155.0
155.4
Quantity..
do
1130
1126
Value
do
1752
1750
General imports:
Unit value
do
1594
1540
Quantity . . .
do
1486
1649
Value
do
253 9
2369
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Shipping weight
.
thous sh tons 349 964 328 419
Value...
mil $
91679 87946
General imports:
Shipping weight
thous sh tons 394 442 450 214
Value
mil. $.. 205,606 217,781
155.5
120 1
1867
155.1
1140
1768
156.1
1088
1699
157.1
1064
1672
157.7
1027
1619
156.2
1097
171 3
157.2
1092
171 6
156.9
1206
1892
156.8
1162
1821
157.5
1149
1809
157.3
1027
1616
155.5
1175
1828
157.9
131.1
207.0
1539
1710
2633
1526
1552
2368
1525
1634
2492
1524
171 7
261 6
1530
1837
281 0
1520
1597
2427
151 6
1558
2363
1563
1582
2472
1565
1904
2980
1556
147 1
2289
1572
1439
2262
1584
1679
2660
1598
1711
273.4
25855
7*893
27875
7441
26648
7243
23752
6598
25904
667°'
27907
7504
28376
6850
30 139
7572
29036
7695
29715
7794
34206
18,811
29664
16,080
35933
16,497
43030
18,823
45138
21^026
38870
17,961
43836
16,803
35533
17,388
40210
20,962
35044
16,113
153 0
1597
1600
"217.1
997
3
997
385
1,493
1,986
2,655
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers
Certificated route carriers:
1 335 90
Passenger-miles (revenue)
bil
Passenger-load factor.. ..
percent
614
Ton-miles (revenue), total.
mil
Ml 252
Operating revenues (quarterly) # §
mil. $ .. 46,504
Passenger revenues
do.
39175
Cargo revenues
do....
2,684
Mail revenues.. . . .
do
893
1
Operating expenses (quarterly) §
do
46 504
Net income after taxes (quarterly) §
do
652
Domestic operations:
Passenger-miles (revenue)
bil 1 1270 06
Cargo ton-miles
mil
3132
Mail ton-miles
do
'1213
Operating revenues (quarterly) §
mil. $ . 1 37618
Operating expenses (quarterly) §....
do.... 36,584
Net income after taxes (quarterly) §
..do....
'256
International operations:
Passenger-miles (revenue)
bil
'6584
Cargo ton-miles.
mil
2874
Mail ton-miles..
do
443
1
Operating revenues (quarterly) §
mil. $ ..
8,304
Operating expenses (quarterly) §
do....
7,983
Net income after taxes (quarterly) §
do....
356
Urban Transit Systems
Passengers carried, total
mil .
8,116
Motor Carriers
Carriers of property, large, class!, qtrly.:
Number of reporting carriers .. ..
100
Operating revenues, total
mil $
17 349
Net income, after extraordinary and prior
r
period charges and credits
mil. $..
360
Tonnage hauled (revenue), common and
contract carrier service
mil tons
159
Freight carried—volume indexes, class I and II
intercity truck tonnage (ATA):
Common carriers of general freight,
seas, adj
1967 — 100
1367
Class I Railroads i
Financial operations, quarterly (AAR),
excluding Amtrak:
Operating revenues, total #
..mil. $.. r 27,635
Freight
do
26 711
Passenger, excl. Amtrak
do....
106
Operating expenses
do
25 258
Net railway operating income.....
do..., rl 1,724
Ordinary income 1"
do
1779
Traffic:
Revenue ton-miles, qtrly. (AAR)
bil..
877.0
Price index for railroad freight
..12/84-100 .
999
Travel
Lodging industry:
2
Restaurant sales index.... same month 1967—100.
213
Hotels: Average room sale 6
dollars.
69.92
Rooms occupied
% of total.
64
Motor hotels: Average room sale Q
dollars .
47.71
Rooms occupied
% of total.
64
Economy hotels: Average room
3013
sale Q-.
dollars
64
Rooms occupied
% of total .
Foreign travel:
U.S. citizens: Arrivals (quarterly)
..thous .
15,252
Departures (quarterly)
do ...
14,768
Aliens: Arrivals (quarterly)
do ...
8,903
Departures (quarterly)
do .
7725
Passports issued
do...
4,955
National parks, recreation visits ##
..do...
49,329
See footnotes at end of tables.
363 04
602
45 258
3093
642
3844
11 649
9 172
1,300
207
12259
685
2874
603
3595
3016
587
3751
3209
62 1
3932
12387
9878
1,376
198
12073
105
3560
643
4318
3808
692
4571
2875
572
3623
13365
10,767
1,429
192
12230
542
2950
580
3792
27 62
569
3564
3067
588
3866
29888
3971
1 232
26 11
328
105
9679
10200
558
2427
316
102
25 13
332
101
2612
318
83
10229
9880
90
2868
332
97
3033
348
98
2292
336
94
10652
9865
314
2430
392
107
2298
346
102
2561
328
148
64 16
3328
431
482
283
36
1853
1939
124
447
268
34
504
267
34
598
278
33
2043
2086
198
692
296
33
774
284
33
582
286
32
2607
2259
229
520
326
36
463
311
43
506
271
52
7976
694
702
669
650
639
633
663
724
645
676
100
18480
100
4203
100
4667
100
4728
100
4775
548
71
182
176
111
166
40
41
42
42
1481
1395
25,957
'2098
110
1
24 652
1168
733
6700
6474
26
6040
410
402
874.5
1008
218.7
1010
1009
1009
215.9
1009
101 1
1010
218.3
1008
1006
1006
221.6
996
997
219
66.00
48
62.00
31
223
7462
66
50.21
68
212
71.83
68
49.45
66
244
71.65
66
48.75
63
234
72.99
69
50.18
67
230
7103
67
50.51
72
212
69.50
73
48.91
72
217
7506
66
47.74
59
231
7708
71
46.62
61
214
7693
65
42.24
55
229
7495
53
45.76
47
175
7955
59
46.68
54
6300
3149
63
31 60
63
3062
65
3104
72
3184
77
3288
80
31 24
64
3032
64
3233
56
2953
47
3076
53
329
4,527
3,195
3,051
2,911
2636
361
6,962
313
10,022
4549
4,184
3,300
2 902
285
5,659
1140
*973
4
738
4
655
274
2,168
276
1,467
333
1,543
1
4110
52,749
3,684
3,173
2,053
1751
446
2,217
143 5
1426
144 2
1522
1538
6641
6427
' 27
6 117
705
31
476
2,873
1557
1561
157 1
6,466
6244
28
6778
279
36
6,428
6211
30
5986
334
341
365
9,710
1537
4
1205
4
991
4
832
*722
272
4,417
4
68.3
S-19
SURVEY OF CURRENT BUSINESS
May 1987
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
Annual
..
IT
tjnits
1985
1987
1986
1986
Mar.
Apr.
June
May
July
Sept.
Aug.
Oct.
Nov.
Dec.
2
5 880
2
2 451
2
2
Jan.
Apr.
Mar.
Feb.
TRANSPORTATION AND COMMUNICATION-Continued
COMMUNICATION
Telephone carriers: 0
Operating revenues #
Station revenues
Tolls, message
.
Operating expenses (excluding taxes)
Net operating income (after taxes)
Access lines *.
mil $
do
do
do
do
mil
71 685
29817
8*214
47*035
12934
Telegraph carriers, domestic and overseas: ©
Operating revenues
mil. $..
Operating expenses
..do ....
Net operating revenues (before
taxes).
do....
73,897
31 218
8536
48553
13 140
1,367 0
1,203 8
18 151
7727
2032
11 723
3 404
1076
107 6
1076
3121
3275
2998
290.3
6.2
10.4
'84.4
18531
7842
2 115
12 027
3346
1079
2
1080
2
995
2
919
2
2.2
2
108 3
18688
2
7 870
2200
12 212
3301
1088
2 687
2
753
2
4 182
2
l'l37
2
109 2
2
6356
662
23952
2
1074
2
109 4
6343
22641
2
775
24466
2
2
927
109 5
937
895
.8
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 $
do
Sodium hydroxide (100% NaOH) t
do....
Sodium silicate, anhydrous $
do ....
Sodium sulfate, anhydrous $.
do....
Sodium tripolyphosphate
(100% NasPapK.) $
do....
Titanium dioxide (composite and
pure) $
;
do .
Sulfur, native (Frasch) and recovered:
Production
thous met tons
Stocks (producers') end of period
do...
1
Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydrous $
thous. sh. tons ..
Ammonium nitrate, original solution J
do
Ammonium sulfate $...
..
do
Nitric acid (100% HNOs) $.
do....
Nitrogen solutions (100% N) $
do....
Phosphoric acid (100% P2O5) $
do....
Sulfuric acid (100% H2SO4) $
do....
Superphosphate and other phosphatic
fertilizers (gross weight):
Production....................
thous. sh. tons ..
Stocks, end of period
do....
Potash, sales (K2O)
do
Imports:
Ammonium nitrate
do
Ammonium sulfate
do
Potassium chloride
do
Sodium nitrate
do
1,003
1,213
10,469
2,777
10,352
2,929
359
363
10,959
10,949
737
1,199
792
802
98
893
246
31
960
62
70
97
873
262
32
926
54
69
98
900
299
32
940
81
69
106
897
275
28
946
71
69
113
907
280
30
943
54
62
124
886
238
29
933
62
61
110
877
234
28
918
70
62
111
839
218
32
889
68
66
86
815
201
29
865
48
65
96
923
230
29
971
56
70
92
839
242
28
877
89
57
89
'888
'224
26
••904
'92
64
92
909
222
32
928
63
,64
607
617
55
56
56
51
46
61
47
50
50
44
48
46
52
814
927
78
78
82
73
80
73
79
76
73
83
83
75
78
10,324
2,799
9,862
2,748
843
2,915
828
2,951
826
820
819
815
807
872
855
'740
788
2,880
2,900
2,987
787
2,919
785
2,977
2,830
2,779
2,748
2,820
'2,805
2,758
17,319
14,005
1,254
1,266
1,255
1,120
1,008
1,097
1,109
1,162
1,100
1,218
1,333
1,214
1,398
6,776
2,093
7,364
2,780
10,518
39,651
5,556
2,085
6,562
2,608
9,206
36,822
613
193
691
280
842
3,252
529
166
638
287
823
3,212
495
192
624
253
779
3,106
448
180
528
198
721
2,914
366
160
446
185
692
2,899
377
157
452
185
706
2,877
422
173
492
193
820
3,253
456
172
522
171
906
3,461
426
171
504
177
818
3,130
423
181
513
198
855
3,374
485
182
579
245
794
3,040
483
186
536
'251
789
2,896
572
183
654
270
901
3,406
15,475
12,710
775
5,521
1,086
778
429
1,137
559
853
1,031
671
620
921
813
226
954
763
160
1,084
648
358
1,207
509
548
1,290
660
299
1,107
815
326
1,189
775
549
1,204
671
752
'1,183
1,129
5,964
1,330
401
74
66
1,229
13
57
12
729
17
48
21
347
13
19
16
268
(3)
28
29
552
12
28
8
717
3
25
12
409
0
28
25
607
8
64
17
526
4
29
39
591
2
54
35
714
15
561
403
561
291
8,233
7,536
142
118
52
40
835
29
4,726
122,629
671,183
399,347
57,226
34,725
'511
'473
55
39
742
24
Industrial Gases *
Production:
Acetylene
Hydrogen (high and low purity)
Nitrogen (high and low purity)
Oxygen (high and low purity)
Organic Chemicals §
Production:
Acetylsalicylic acid (aspirin)
Ethyl acetate t
Formaldehyde (37% HCHO)
Glycerin, refined all grades.
Methanol, synthetic
Phthalic anhydride
ALCOHOL
Ethyl alcohol and spirits:
Production:..
...
Stocks, end of period
Denatured alcohol:
Production.
Consumption (withdrawals)
For fuel use ....i
Stocks, end of period
See footnotes at end of tables.
mil. cu. ft ..
do
do
do
mil. lb..
do
do....
do
mil. gal ..
mil lb
5,051
121,345
665,190
392,554
1
1
'28.2
192.0
1
27.1
198.5
5,606.1 '5,860.9
321.1
295.0
1
753.5 ' 1,102.8
'864.2
'820.2
mil tax gal
do.
681.0
'46.9
644.7
mil. wine gal..
do ....
. . do
do..
'512.2
403.9
513.8
222.9
26.5
441.9
225.1
23.8
47.5
354
9,818
339
403
359
345
433
427
462
465
473
478
'478
488
10,048
55,731
33,456
9,783
57,009
34,050
10,181
54,899
32,419
10,587
55,077
33,197
9,934
56,902
32,943
10,541
55,408
33,078
10,028
57,305
32,627
10,085
55,626
32,590
11,832
55,995
33,847
11,293
55,389
34,756
11,339
'51,785
'30,511
11,514
57,542
34,458
5.8
42.2
71
54.2
67
51.2
1,511.1
1,511.4
1,395.3
26.7
223.5
229.4
18.8
284.1
216.3
210.9
224.2
25.3
28.4
25.9
23.0
25.1
23.9
24.9
7.5
44.7
1,467 1
22.8
284.8
208.3
56.5
41.5
52.5
41.7
55.6
39.4
50.1
38.3
48.9
39.8
50.2
36.8
56.7
35.8
62.2
47.6
54.2
45.7
60.8
47.5
36.1
36.5
18.3
23.8
34.7
38.8
19.1
28.1
33.8
40.5
25.4
19.3
40.2
33.3
15.3
26.1
34.5
35.8
17.2
26.0
30.5
35.6
17.7
23.0
31.1
37.4
19.4
20.0
37.4
35.0
14.6
23.6
28.8
38.1
22.2
26.9
33.5
34.1
15.4
23.8
23.6
'23.8
25.1
S-20
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
Annual
IT .,
vnm
1985
May 1987
1987
1986
1986
Mar.
Apr.
May
June
July
Aug.
Sept.
Nov.
Oct.
Jan.
Dec.
Apr.
Mar.
Feb.
CHEMICALS AND ALLIED PRODUCTS-Continued
PLASTICS AND RESIN MATERIALS
Production:
1
Phenolic resins
mil Ib
1 713 8
Polyethylene and copolymers
do
'15 3181
Polypropylene
.
do
'56544
Polystyrene and copolymers
.'.........do
.... '7,229.0
Polyvinyl chloride and copolymers...
.i.do . .. 1 6,667 9
PAINTS, VARNISH, AND LACQUER <>
Total shipments
mil $
Architectural coatings
do
Product coatings (OEM)
do .
Special purpose coatings
do ....
9 174 8
3,825 3
3,3835
1,966.1
'15196
'162176
'58346
'5,794.3
7 499 1
96791
4,121 1
3,565 9
1,992.1
7662
3223
2850
159.0
•-
3935
41535
14814
1,437.5
1,927 5
6617
257.4
270.4
133.9
6284
2350
266.0
127.4
724.6
274.1
310.7
139.9
206 692 197 754 196,432 213 551
185
579 176 419 173,278 187,586
r
21 114 r21,335 23,153 25,965
222,736
197,328
25,409
3643
39869
14178
1,467.2
18770
3500
3 949 8
14184
1,405.7
1 811 2
9205
4289
3092
182.4
9161
4202
3048
191.1
9000
4128
2969
190.4
364 1
4 129 7
14662
1,470.6
18835
8710
4113
270.7
189.0
8608
3928
2869
181.0
8580
3606
3220
175.4
8804
3402
3703
169.9
r
784.7
304.9
OOQ fi
151.0
883.1
370.2
342.9
169.9
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production:
Electric utilities, total
mil kw-hr 2 469 841 2 487 310 196 834 186 074 197 315 r215 015 rr242 672 rr225 166
By fuels....;
do
2,188 686 2 196 465 168
369 158 551 170 109 188,791 218,601 203,977
By waterpower
do.
281,149 290,844 r28,465 r27,523 r27,205 r26,223 r24,072 r21,189
Sales to ultimate customers, total (Edison
Electric Institute) $
. ..mil kw-hr 2 315 006 '2361423 594 034
553 878
Commercial §
do
152,473
608 480 '632811 151 284
Industrial §
do
204,079
821,990 '817531 199,337
Railways and railroads
do....
1,116
1,271
'4,730
4,697
175 244
Residential or domestic
do
797 010 '822423 220 216
Street and highway lighting
do
3,428
13954 ' 14 387 3839
16065
Other public authorities
do
16 532
63 122 '63453
Interdepartmental
do
1 474
5*753
'6086
1 555
Revenue from sales to ultimate customers
35503
(Edison Electric Institute) $
mil $
149 836 ' 153 146 37609
GASt
Total utility gas, quarterly
(American Gas Association):
Customers, end of period, total @
Residential
Commercial
Industrial @
Other.
Sales to customers, total
Residential
Commercial
Industrial
Electric generation *
Other
. .
Revenue from sales to customers, total..
Residential
Commercial
Industrial
Electric generation *
Other
thous..
do
.do
do
do
tril Btu
do
do .
do
do
do
..
mil $
do
do
do
do..
do ....
50,759
46627
3,905
180
47
2110
739
386
623
338
24
51,010
50,158
51,033
46,099
46863 46840
3,834
3,963
3,922
183
177
178
47
47
47
12616 ' 10 815 -4288
2064
4416
4513
993
'2,240
2,338
2689
3686
928
1 949 '1 340
250
53
130
130
63,293
26864
12723
15659
7,428
620
50,286 21,151
24874
11 267
' J11 275 5 128
9977
3682
'3,621
832
540
240
r
639 734
176 794
209,627
1,145
230 346
3471
16 662
1 689
576 255
154,585
204,129
1,212
195 458
3,875
15621
1376
43212
36270
50,405
46348
3824
175
47
1621
385
252
534
432
17
51,010
46,863
3,922
177
47
2803
1,231
616
606
312
38
12,669
6661
2927
2,137
798
147
6857
2563
1258
1 814
1164
58
9,613
4382
1 987
2283
862
99
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production ..
mil bbl
Taxable withdrawals
do
Stocks end of period
do
Distilled spirits (total):
Production.
mil tax gal
Consumption, apparent, for beverage
purposes #
mil wine gal
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 galTaxable 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
See footnotes at end of tables.
19331
17513
1307
19649
17838
1342
9678
1650
1466
1468
1799
1602
1524
1867
17 10
15 13
1865
1659
1538
1833
1726
1522
1706
1578
14 41
1526
1402
1406
1562
1464
1375
1353
1248
1340
1397
1284
1342
1560
1361
1407
1563
13.74
1467
8569
869
862
668
708
606
449
528
748
798
686
'41630
530.46
11578
50075
10359
31 49
53047
7 84
3072
524 50
792
3069
52867
765
3388
52463
795
3175
52106
892
3081
51600
809
51051
820
50384
1040
50129
14 15
500.75
867
842
1307
769
6017
46053
79.68
5044
43363
67.68
577
460 03
530
661
45434
504
446
45965
488
421
45754
536
373
45479
557
1 95
218
45037 44463
574
503
395
44014
710
361
43543
9.56
366
433.63
5.08
3.92
10.33
5.60
32.19
30.86
1469
15,76
30.57
30.09
1596
14.30
2 45
2.17
17 01
1.04
240
1.46
1792
.97
1.43
3.31
1546
1.01
1.18
2.15
1283
.87
316
1.01
1752
.96
301
2.14
1856
1.10
301
207
17 16
.97
422
466
1873
1.34
2.85
4.72
1590
2.49
2.67
3.89
1596
1.56
1.84
1.32
1662
.46
.80
1.13
481.90
45981
59843
9031
456
3563
550 97
800
4.85
4330
53954
737
4.54
41 33
47874
798
4.41
4552
43971
744
5.24
4360
40586
710
97.65
5136
45906
636
18541
3237
60125
638
10943
3820
61481
818
30.03
3430
62653
895
24.40
3361
59843
667
6.71
31 52
58720
596
576
762
14317
690
628
410
387
408
2277
2996
27 18
10 12
819
833
454.54
41300
59460
12100
15398
r
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
S-21
SURVEY OF CURRENT BUSINESS
May 1987
Annual
..
units
1987
1986
|T
1985
1986
Mar.
May
Apr.
June
Nov.
Oct.
Sept.
Aug.
July
Dec.
Jan.
Ma,
Feb.
Apr.
FOOD AND KINDRED PRODUCTS; TOBACCO-Continued
DAIRY PRODUCTS
Butter:
Production (factory)
mil Ib
1 247 8 1 202 4
Stocks, cold storage, end of period
do....
193.0
'205.5
Producer Price Index
1967 = 100 ..
217.1
223.0
Cheese:
Production (factory) total
mil Ib rr5 080 9 r5 209 2
American whole milk
do
2 855 2 r2 798 2
Stocks, cold storage, end of period
do....
8529
693.6
American, whole milk
do....
601.7
758.8
Imports
...
do
3025
311 4
Price, wholesale, cheddar, single daisies
(Chicago)
$ per Ib
1 575
1 620
Condensed and evaporated milk:
>
r
Production, case goods
mil Ib
5844
6353
Stocks, manufacturers', case goods, end of
period...
do
623
450
Exports..
..... ..
do
108
116
Fluid milk:
10
Production on farms
do.... 143,667 122,185
Utilization in manufactured dairy
r
products
do
82 951 r83 022
Price, wholesale, U.S. average
$ per 100 Ib ..
12.50
12.75
Dry milk:
Production:
Dry whole milk ... ...
.
mil Ib
1224
1189
Nonfat dry milk (human food) .
do
13900 1 284 1
Stocks, manufacturers', end of period:
Dry whole milk
do....
6.7
6.5
Nonfat dry milk (human food)
do
579
782
Exports, whole and nonfat
(human food)....
do..
4824
2761
Price, manufacturers' average selling, nonfat
dry milk (human food) . .
$ per Ib
849
810
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats, rye,
wheat)....
..
mil bu
Barley:
Production (crop estimate)
do
Stocks (domestic), end of period total
do
On farms..
... ... . . .
do
Off farms..
do
Exports, including malt §
do
Producer Price Index, No. 2 feed,
Minneapolis
...1967-100..
Corn:
Production (crop estimate, grain
only)...
mil bu.
Stocks (domestic), end of period, total
do....
On farms
do
Off farms .
.
.
do
Exports, including meal and flour
do .
Producer Price Index, No. 2, Chicago
1967= 100 ..
Oats:
Production (crop estimate)
mil bu
Stocks (domestic), end of period,
total.
do
On farms...
;
.
.do
Off farms
do .
Exports, including oatmeal
do....
Producer Price Index, No. 2, Minneapolis
1967=100..
Rice:
Production (crop estimate)
mil. bags #
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..
Exports.
do
Producer Price Index, medium grain,
milled
1967=100..
Rye:
Production (crop estimate)
mil bu
Producer Price Index, No. 2,
Minneapolis
1967—100
Wheat:
Production (crop estimate), total
mil. bu .,
Spring wheat.
do ....
Winter wheat
do
Distribution quarterly @
do
Stocks (domestic) end of period total . .. do
On farms
.
do
Off farms........
do
Exports total including flour
do
Wheat only
do
See footnotes at end of tables.
26950
2
2
20839
1192
283.3
212.9
1227
305.0
213.2
114 7
330.8
213.4
r
457
r
r
459 5
r
r
4825
r
1
2554
815.7
724.6
209
2648
838.4
742.9
175
281 9
873.3
778.5
199
1 556
1 557
1 558
r
r
r
r
797
337.6
220.4
r
699
304.4
234.9
r
4366
r
r
4217
r
r
930
342.8
214.0
r
457
r
4
2620
892.8
794.4
245
242 1
915.6
815.1
246
2192
916.2
816.0
23 1
r
537
r
732
25
862
17
91 6
4
103 5
5
1069
3
10,659
10,630
11,213
10,649
10,468
10,169
r
r
7754
12.10
r
r
r
r
118
1272
r
91
1391
r
98
1474
r
91
1337
108
1109
7.0
744
6.9
792
4.9
852
4.5
853
41.2
259
400
807
807
810
1633
1177
962
513
508
7440
12.20
8031
12.00
513
7476
11.90
r
521
7099
12.00
r
853
253.3
236.0
410 1
1982
859.0
759.9
258
r
4102
1964
805.0
711.2
307
rg02
r
1 596
1 572
1 558
279.6
234.8
509
111 8
5
6600
12.30
rg()3
218.5
235.3
r
401 0
194 1
757.0
665.5
332
101 3
193.0
234.9
1092
206.6
211.3
978
231.6
210.5
107 6
'254.0
211.9
r
4394
r
4136
2195
680.8
587.2
144
4009
2112
652.9
564.8
15.5
r
645.9
r
r
217 7
693.6
601.7
313
1 597
1 599
1 599
1 599
r
r
r
r
48.6
452
105 1
87 8
5
5
6288
12.80
621
6
r
6,176
13.20
r
5,720
13.40
4559
2387
556.5
21.4
(9)
473
39.8
41.1
47.2
450
6
499
2
533
.4
550
5
9,717
9,932
9,279
10,376
10,378
6468
13.30
6,304
12.90
7,179
12.50
"12.30
r
91
894
113
821
126
80.3
113
878
r
r
99
688
114
r
667
6.6
521
4.3
399
5.6
437
6.7
579
6.5
553
8.0
665
7.4
605
771
45.6
579
52.0
395
20.4
24.3
47.9
808
808
810
816
814
802
794
794
1829
1955
2306
1903
179 9
1774
181.8
229.7
112
904
101
r
743
6.8
672
6.8
65 1
167
413
808
807
1407
1554
r
r
r
591 4
5309
3656
1654
348
2
610 5
4
324 8
4
199 3
4
759
2
8
125 6
5
3
16
125
128
166
144
147
13
16.5
18.2
150.1
121.3
138.7
1266
1274
1104
1019
934
1019
1232
141.8
118.9
118.5
118.2
118.1
1416
119.7
125 3
8,865 0 7 2 8,252 8
7,894.8 710,304.1
55286 6 795 5
2 366 2 73 508 6
17316 1 0647
204.8
2
161.6
4
324 8
4
199 3
4
5,947.1
39820
19651
976
187.1
3
4 990 0
33 143 i
3 1 847 o
569
466
189.7
199.8
559
199.0
'40395
7
20494
1 1 990 l
500
448
158.2
133.6
803
116.8
10,304.1
67955
3 5086
1143
124 1
1099
104 4
8,246.8
50240
32228
! 989
126.6
132.8
120.0
118.5
112.2
520 8
2
3796
3112
684
1.7
4
183 7
4
147 2
4
365
3.9
.3
.1
365
.8
.1
.3
.4
.4
.5
.2
.4
.1
.2
.3
216.8
188.6
191.1
158.1
174.6
174.6
153.8
158.1
179.6
199.0
247.9
238.5
237.1
235.7
235.7
438
2
8
2
649.9
557.1
6,441
13.40
9,400
9,732
9,662
r
457
246.1
212.3
150.3
131.6
3845
4
183 7
4
147 2
4
222.7
134 9
2
9,230
10,242
148
452
692
487
391
1 166
3524
1,200
785
990
230
551
5659
6556
382
399
556
623
624
632
689
616
616
645
603
583
580
2,751
4101
3,046
5111
2,144
249
1,720
208
1559
212
1310
450
960
603
1180
778
2819
835
3,034
565
2,975
446
3,046
323
2,737
343
2,556
411
2,302
365
206.3
178.7
197.2
189.2
182.7
181.0
170.6
170.3
164.4
159.2
155.9
155.8
153.9
148.5
148.1
147.2
2
2
1976
191 2
1976
1589
1289
1289
1375
1396
146 1
1718
169.7
169.2
167.5
148.2
1087
1040
842
31546
12930
1,8616
1199
1134
206
134 4
19 5 i
1672
196 9
2
2,087
2,425
2
2
568
598
1 828 21 519
2080
2132
25262 77 2 671 5
10112 7 1,0630
1,515 0 1,608 5
9390
9268
8931
8837
2
2 130 1
7994
1,330.6
652
601
354
19050
'6811
12239
599
484
463
540
844
795
" 1 549
6
1020
978
895
835
494
2 671 5
10630
1,608.5
61 2
591
548
496
71 6
650
2,253 1
796.0
1,457.1
660
625
695
639
S-22
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
IT .,
units
1985
May 1987
1987
1986
Annual
1986
Mar.
Apr.
May
June
Aug.
July
Oct.
Sept.
Nov.
Jan.
Dec.
Apr.
Mar.
Feb.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS-Continued
Wheat—Continued
Producer Price Indexes:
Hard, winter Ord, No. 1, Kansas City
204.6
176.9
1967=100..
Spring, No. 1, D.N. Ord, Minneapolis
186.4
1967=100..
160.6
Wheat flour:
Production:
Flour.
thous sacks (100 Ib )
166
313 815 r341
r
Millfeed
..
thous sh tons
6 Oil
5556
Grindings of wheat
.
thous bu 700 151 r758 468
Stocks held by mills, end of period
r
thous. sacks (100 Ib )..
5228
4847
Exports .
do
14 454 23741
Producer Price Index
6/83=100 ..
' 91.4
96.6
199.5
195.8
224.1
172.7
152.1
149.2
151.0
157.6
158.8
163.9
161.5
166.1
173.9
173.2
180.9
185.6
176.6
145.5
124.2
135.8
147.9
148.7
156.0
154.5
155.3
151.2
144.0
142.6
26r 720
493
60 243
27777
498
62432
1 508
88.9
5,105
2417
89.1
1591
r
r
r
r
r
r
r
r
r
r
r
r
r
r
r
r
r
r
25r 631
446
56 100
r
26r 485
456
58 657
4740
2 171
96.4
2526
94.8
1 515
27r 184
470
60 293
888
99.7
26r 700
466
59 264
'5141
2089
92.8
27r 643
490
61 680
30r 212
534
67 284
30r409
541
67 817
r
31r807
569
71 113
30r 251 r29r 510
532
546
67 714 " r65 944
r
26 802
490
60324
r
r
5228
2240
r
86.9
2800
86.6
1 400
1 553
1 545
1 418
423
249
369
178
389
198
409
211
2044
87.9
2791
87.0
5 101
1 824
85.4
2541
86.9
941
86.8
1 554
1528
1629
1 677
629
449
689
512
716
543
90.2
POULTRY AND EGGS
Poultry:
Slaughter
mil Ib
Stocks, cold storage (frozen), end of period,
total
mil Ib
Turkeys
do
Price, in Georgia producing area,
live broilers
$ per Ib..
Eggs:
Production on farms
mil cases §
Stocks, cold storage, end of period:
Shell.
thous. cases § ..
Frozen
mil Ib
Price, wholesale, large (delivered; Chicago)
$ per doz..
16972
18 037
1366
324
150
369
178
340
151
r
r
1 521 1528
415
229
381
189
r
484
298
569
388
r
r
r
r
427
r
227
455
249
.275
.275
.310
'.345
.420
.370
.330
.295
.295
.275
.270
.270
1900
1903
164
157
161
156
158
159
154
161
159
166
16.4
149
16.8
16.1
24
13
22
13
20
11
32
12
44
12
38
14
25
15
33
15
29
14
20
14
29
13
22
13
20
14
25
13
32
14
28
13
.634
.681
.769
.626
.620
.573
.694
.700
.694
.663
.741
.728
.644
.620
.592
.590
3,168
34765
3,195
35913
276
2726
284
3096
257
3,123
240
3,017
281
3213
262
3101
263
3019
276
3164
238
2693
272
2944
248
3084
225
2564
251
2,805
215
2,875
58.37
57.74
55.55
53.69
55.79
54.08
58.27
59.04
59.43
59.73
61.54
59.82
58.79
61.02
61.58
66.30
6208
58.28
6038
59.92
5999
55.00
5668
55.00
6221
55.83
5369
61.10
5798
62.13
6220
62.50
6151
67.50
6194
67.50
6277
67.50
6283
67.50
6575
65.94
69.01
68.28
68.47
70.00
70.56
75.00
81,974
77,290
6,662
7,160
6,703
5,894
5,918
5,799
6,323
7,083
6,064
6,558
6,723
5,886
6,786
6,492
44.98
50.73
41.08
40.59
46.43
54.95
61.59
63.66
59.59
54.86
54.44
52.02
47.56
49.08
48.67
52.10
17 6
26 1
173
19 2
227
359
405
37 9
359
337
32 1
339
5,976
5,464
524
477
417
406
432
495
495
442
418
390
432
477
68.41
67.54
67.00
68.00
80.75
74.71
70.50
66.16
62.45
57.23
65.17
72.70
77.25
74.62
82.50
85.50
39 131
607
39050
564
3 133
620
3477
C
658
3388
667
3 156
'639
3 281
'619
3 igo
572
3259
541
3506
572
2986
'564
3261
*564
3410
'598
2877
599
3198
r
595
3160
591
.280
.325
.425
.340
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
,
thous. animals..
Cattle
do
Prices, wholesale:
Beef steers (Omaha)
$ per 100 Ib ..
Steers, stacker and feeder
(Kansas City)
do
Calves, vealers (So. St. Paul)
do....
Hogs:
Slaughter (federally inspected) thous. animals ..
Prices:
Wholesale, average, all weights (Sioux City)
$per!001b..
Hog-corn price ratio (bu. of corn equal in
value to 100 Ib live hog)
Sheep and lambs:
Slaughter (federally inspected) thous. animalsPrice, wholesale, lambs, average (Omaha)
$per!001b..
MEATS
Total meats (excluding lard):
Production .. .. . ..
mil Ib
Stocks, cold storage, end of period
do
Exports (meat and meat preparations)
do
Imports (meat and meat preparations)
...
do
Beef and veal:
Production, total
do
Stocks, cold storage, end of period
do ....
Exports
do
Imports
do
Price, wholesale, beef, fresh steer carcasses,
choice (600-700 ^bs.)
(Central U.S.) ...:
$ per Ib
Lamb and mutton:
Production total
mil Ib
Stocks, cold storage, end of period
do....
Pork (excluding lard):
Production, total
.
do
Stocks, cold storage, end of period....
do...
Exports.............
do
Imports
do
Prices:
Producer Price Index, Hams, smoked
1967 = 100.
Fresh loins, 8-14 Ib. average,
wholesale (N.Y.) .
.
$ per Ib
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans, imports
(including shells)
thous. Ig. tons
Coffee:
Imports, total.
thous bags A
From Brazil
do
U.S. Import Price Index *
6/77—100
Fish:
Stocks, cold storage, end of period
mil. Ib.
See footnotes at end of tables.
176
29 5
426
401
r
322
340
1461
1722
123
132
139
121
125
147
159
188
170
171
151
133
151
2511
2544
197
179
180
213
260
232
232
223
237
168
211
218
236
2 155
311
60
101
2 152
328
59
104
2068
331
50
137
2 192
346
56
165
2 117
327
80
148
2093
299
87
143
2 190
301
107
127
2012
318
80
87
2141
327
76
118
1783
313
64
131
1,945
r
317
69
140
833
864
836
892
910
905
918
920
897
917
929
25
12
24
14
27
14
29
13
1 221
'l97
13
74
1244
'218
10
85
1070
229
9
77
1226
r
221
12
86
1,169
218
372.1
310.1
295.2
292.8
301.8
1 251
1 191
1241
1 132
1 228
24 055 24722
329
318
660
884
1 505
1 449
913
890
1 903
308
50
109
850
350
13
330
13
32
12
14726
229
192
934
13998
197
133
928
1 198
254
11
77
284.5
312.5
1 285
1 136
24
14
26
14
1C 292
282
14
69
1 211
276
14
67
1 065
248
14
70
1 063
215
9
84
1 037
185
7
77
1 137
186
8
80
1 285
216
11
87
1 117
206
13
91
272.3
261.4
265.7
276.7
308.3
336.4
346.4
368.2
376.5
1 125
1 135
1 126
1 325
1 486
1 504
1 440
1 305
1 216
25
15
2661
2015
151
93
190
161
21 2
225
19 483
2200
77 8
1 645
121
965
1 667
264
1810
172
1 286
68
751
1 549
47
1 513
84
'253
'258
'256
'273
r
340
957
25
13
29
13
18698
4 148
59 1
362
1 845
304
82
136
r
291
r
332
30
14
28
13
24
14
30
15
r
78
149
172
26 1
280
228
1641
60
77 5
1 535
239
1 449
91
1 192
156
622
1092
177
1 218
118
1 841
236
492
'347
•"349
296
289
11 8
r
350
r
340
323
1,962
318
1.009
S-23
SURVEY OF CURRENT BUSINESS
May 1987
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
Annual
.ta
IT
unils
1985
1987
1986
1986
Mar.
Apr.
June
May
July
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FOOD AND KINDRED PRODUCTS; TOBACCO—Cont.
MISCELLANEOUS FOOD PRODUCTS—Cont.
Sugar:
Exports raw and refined
sh tons
Imports, raw and refined
thous sh tons
Producer Price Indexes:
Raw (cane)
. .1967-100
Refined
12/77=100 ..
Tea, imports
thous. lb..
TOBACCO
Leaf:
Production (crop estimate)
Stocks, dealers' and manufacturers',
end of period
Exports, incl scrap and stems
Imports, incl. scrap and stems
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
Taxable
Cigars (large) taxable
Exports, cigarettes
375 782
2423
454 394
1 913
34 846
22788
158
31 891
191
60083
115
57027
158
35 292
173
19934
152
21 618
208
127
45016
203
44423
123
83683
33
49937
129
62915
140
2913
165.6
174,617
2922
166.4
197,963
2916
165.7
21,719
2895
165.1
19,002
2888
165.1
15,747
2938
164.9
14,970
2937
165.0
19,732
2929
166.6
14,626
293.2
167.5
18,110
2969
168.4
14,864
2990
168.5
14,965
r
294.5
169.4
14,086
299.7
169.2
15,206
304.8
169.1
14,495
305.9
169.2
19,830
*1 512
rl 1 166
5293
4 979
538 648 466630
430 273 457 658
5145
48826
40 183
45947
47 524
28437
42601
4847
22418
30041
16372
40 742
23684
45716
4902
22 144
39498
32926
44 280
66347
41 906
4,979
106 080
26287
59598
31635
25388
50385
43120
45,474
millions
66491 74301
do
594 922 583 020
r
do
2901
2916
do ....
63,945
58,968
5906
51 458
5645
48015
248
4,331
5232
52392
268
5,228
6403
55974
272
5,416
5754
38417
261
5,610
6096
51 401
7 555
51 965
6,413
5646
49220
210
6,623
6069
48793
250
5,041
6440
38 100
242
5,485
8779
50808
261
5,329
5,021
6952
42666
206
6,663
7,466
19,865
407.8
mil lb
do
thous lb
do
220
5,037
258
217
307.1
171.3
LEATHER AND PRODUCTS
LEATHER
Exports:
Upper and lining leather
Producer Price Index, leather...
thous. sq ft
...1967= 100 ..
131 505 160 888
'382.6
353.1
13050
368.9
13652
370.2
14560
383.6
13945
394.1
11902
390.4
16769
391.8
11502
388.4
13 043
382.2
14003
386.8
15,581
r
397.9
12172
395.3
15,625
399.8
265 474
233 465
20476
20296
19885
17 509
17954
20265
19069
20840
17 953
16462
17 337
17942
200 240 184 214
54421 42 416
10813
6835
2732
5293
9205
10277
15781
4 167
528
432
707
15340
4374
582
436
1 039
15043
4370
472
456
899
12974
4095
440
475
1 080
14846
2501
*607
239
927
16343
3210
712
407
732
14973
3 465
631
464
930
16431 14214
3 137
3730
602
679
486
620
848
1 057
13918
1938
606
445
785
14 510
2338
*488
442
1078
14,900
2484
558
473
1214
1264
112.6
2259
105.0
112.6
2259
105.0
112.6
224 5
104.3
112.6
224 1
101,1
111.3
2244
104.1
112.8
2229
104.0
113.6
2230
104.5
113.7
2267
104.5
113.8
2261
104.6
114.0
2273
104.6
114.1
2276
104.5
114.6
2285
100.0
115.0
2302
104.5
3441
427
2552
486
2955
3344
502
2842
3397
538
2859
3291
550
2741
3820
660
3 160
3689
685
3004
3496
798
2698
3480
845
2635
3 623
888
2735
3791
1 056
2735
3293
396
2897
3,350
449
2901
3307
384
2923
3,302
453
2849
420.2
LEATHER MANUFACTURES
Footwear:
Production, total A
thous pairs
Shoes, sandals, and play shoes,
except athletic
thous. pairs
Slippers
do
Athletic
do
Other footwear
do
Exports
'.
do
Producer Price Indexes:
Men's leather upper, dress and casual
12/80=100..
Women's leather upper
1967—100..
Women's plastic upper
12/80=100..
109.7
2235
104.0
r
112.9
2250
104.4
r
115.0
2307
102.8
LUMBER AND PRODUCTS
LUMBER—ALL TYPES #
National Forest Products Association:
Production total
mil bd ft
Hardwoods
.
do
Softwoods
do
Shipments, total:
do.
Hardwoods
do
Softwoods . .
do
Stocks (gross), mill, end of
period, total...
do.
Hardwoods ...
do
Softwoods.
do.
Exports, total sawmill products
do
Imports, total sawmill products
..........do....
2
2
2
2
37 352
26031
31 321
2
37
023
2
5 873
2
31 150
6484
1719
4,765
41
680
2
6 955
34 725
2
41
615
2
7 165
2
34 450
6 549
1 509
5040
3347
522
2825
3478
541
2 937
3362
538
2824
3321
536
2785
3405
524
2881
3538
515
3023
525
2830
3498
512
2986
6784
1 938
4846
6826
1 940
4886
6697
1 949
4748
6361
1 756
4605
6393
1 778
4*615
6484
1 762
4722
6590
1 750
4 840
6653
1 724
4929
6715
1 677
5038
6549
1 509
5040
6,495
1456
5039
6,625
1 513
5*112
3 355
2961
'434
2527
2979
1
14,178
14,607
1,325
1,380
1,438
1,411
1,594
1,272
1,334
1,012
803
766
1,078
1,222
1,329
8044
528
8062
8,077
899
486
127
358
9058
668
9008
8918
989
522
105
417
833
679
741
702
650
754
810
852
694
801
867
780
977
1 036
1 074
336.6
331.5
SOFTWOODS
Douglas fir:
Orders, new
mil. bd ft
Orders, unfilled, end of period
do....
Production
do
Shipments
do ..
Stocks (gross), mill end of period
do
Exports, total sawmill products
do ..
Sawed timber
do
Boards, planks, scantlings, etc
do....
Producer Price Index, Douglas fir, dressed
1967=100..
See footnotes at end of tables.
497
780
838
891
48
g
638
739
795
933
49
9
594
739
723
949
45
10
40
35
40
316.1
348.0
358.2
522
572
580
805
32
6
580
748
696
857
42
7
597
873
793
937
36
7
30
26
34
29
331.1
341.4
339.3
345.4
452
684
746
813
39
9
47
9
668
759
783
989
48
7
37
38
333.5
329.4
647
846
802
981
48
11
650
723
691
1 013
756
790
779
1000
748
824
788
797
966
928
57
16
56
13
56
10
41
42
43
46
317.6
314.8
333.9
326.5
325.9
S-24
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
Annual
May 1987
1986
1987
;
,,..
1985
Apr.
Mar.
1986
May
June
Aug.
July
Apr.
Mar,
Feb.
Jan.
Dec.
Nov.
Oct.
Sept.
LUMBER AND PRODUCTS—Continued
SOFTWOODS—Continued
Southern pine:
Orders new
mil bd ft
Production
do
Shipments
do
Stocks (gross), mill and concentration yards,
Ex rts total sawmill r o d u c t s t h o u s bd ft
Producer Price Index, southern pine,
dressed
1967-100 ..
Western pine:
Orders new
mil bd ft
Production
Shipments
Stocks (gross), mill, end of period
Producer Price Index, other softwood,
dressed
1 10 763 1 11 523
680
710
1 10 730 1 11 605
1
11
492
1 10 644
1 894
2007
169 925 187 258
986
678
968
997
781
618
878
842
1 852 1 888
17007
15780
910
570
949
949
1031
620
955
982
845
726
798
822
790
634
919
891
703
657
676
676
1 085
732
1 014
955
765
710
833
775
1082
808
966
984
957
849
912
920
2007
16531
1992
19 889
1982
20,611
20,159
778
721
846
837
1 892 1 866 1 874 1 895 1 897 1 892 1 947
19 256 15686 12059 16129 15946 15176 17 302
r
3006
2995
3041
324.5
317.0
306.1
302.6
303.6
295.5
287.9
289.1
290.3
295.8
305.0
317.6
do
do
do....
9247
433
9,276
9,221
1,312
10 480
452
10 487
10,461
1,338
909
553
828
857
1,338
836
498
893
891
1,340
856
464
839
890
1,289
935
457
891
943
1,260
86°
467
872
859
1,273
986
510
972
943
1,302
993
517
1,007
986
1,323
947
531
962
933
1,352
812
519
841
824
1,369
828
452
864
895
1,338
955
554
840
853
1,325
887
590
883
851
1,357
1,014
594
1,035
1,010
1,382
1967 = 100..
378.7
390.4
379.8
400.0
392.5
383.6
383.3
387.2
409.6
399.5
407.3
401.3
401.3
419.6
426.5
do
do....
55
1218
6.2
75
1452
7.4
82
122
3.7
86
12.4
3.6
95
12.5
3.5
88
11.8
4.7
88
11.3
4.1
92
12.6
4.3
83
12.7
5.3
74
14.7
5.1
79
11.2
5.5
75
12.2
7.4
83
12.4
7.1
94
12.3
6.9
115
14.6
6.2
322.9
427.1
HARDWOOD FLOORING
Oak:
Shipments
Stocks (gross), mill, end of period
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Scrap.. .
Pig iron . . . .
Imports:
Steel mill products
Scrap.... ,.
Pig iron
...
86
1,011
2
103
752
(2)
72
964
6
87
703
1
77
1,154
10
65
731
87
728
1
84
798
22
1964
1,601
46
52
1,627
36
22
1732
39
14
2,060
49
31
1,529
101
33
1,586
69
44
1,359
48
20
1,927
96
26
1,521
57
13
1,500
63
13
1,852
76
14
1,807
58
22
26335
25?6
4401
6071
4698
2642
3420
6 134
4715
2512
3241
5896
4685
2348
3083
5594
4634
2201
2875
5 100
4680
1871
3044
5026
4566
1 838
3 168
4967
4595
1 881
3288
5239
4545
1763
3086
4935
4,467
1762
3057
4867
4,401
1949
r
3,196
r
5,185
r
4,335
1,854
3,414
5,067
4,548
2733
287 6
2662
278 0
2690
274 4
2672
274 4
2642
263 3
257 8
259 6
2582
268 9
2677
283 7
2657
283 7
2657
2837
2667
2837
2703
2986
48 751
49411
15955
38 882
42374
16749
3 840
1 226
1 168
4 363
4356
1 444
4 836
5354
1*742
3 096
4527
1*943
3 086
4799
1700
3 041
4600
1 120
2986
4 147
1444
2767
4093
1 191
2221
4036
1228
2342
3,375
1,267
2 782
330
959
438
931
61 757
51 307
2738
4634
6685
6095
5558
4249
4 555
4585
4,480
63658
7 135
29 389
5968
21 290
55283
6 501
22 133
5425
218
23 997
13 035
10312
'650
5347
533
25 048
12 635
11373
1 040
4655
589
25 073
11 210
12754
1 109
1
do
do
do
24256
611
344
20698
724
295
3
30 455
3
38 816
3
70 493
3
r
37 928
r
65
369
r
5 104
66
3
s'lii
4,281
1,616
1,052
2,209
3,913
3,771
3,872
3754
4274
4066
469
369
529
1 650
1 160
828
24 940 23 417 23 706 23 624 22695 22 133
7 igG
2*983
4061
5*875
7 960
9 511
14 350 14455 15375 16 086 16795 17,163
1 663 1 839 r2 123
1 079 1 002 1 165
4,242
71
21 817
5347
14,334
2136
3,928
(*)
4,890
22
2*404
17 163
1 Q87
5522
143
25 140
12 998
11 102
1 040
828
883
53
98
51
47
75
79
93
58
76
84
30
31
46
50 446
513460
239
43839
4341
4 123
257
4341
3949
265
979
4284
3946
257
978
3697
3527
239
978
3526
3428
248
2966
2964
241
2982
2869
227
3161
3015
228
3,097
2972
*221
3,146
3,214
3,069
3,891
do
10 017
6432
7 188
4611
589
360
697
429
641
420
589
376
568
382
562
395
601
389
681
428
550
367
566
374
r
632
r
615
425
do
do
376
198
471
153
39
13
47
18
39
15
37
10
35
g
31
11
36
11
46
15
41
12
42
12
At mi
' 6n ° *>erl
•— • o....
At furnace yards
do
At U S docks
do
Manganese (manganese content),
general imports
do
Pig Iron and Iron Products
Pig iron:
Production (including production of
ferroallovs)
thous sh tons
See footnotes at end of tables.
68
803
9
74
1185
47
Shipments from mines
do
Imports
do
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel
plants
do
Consumption at iron and steel
plants . .
do
Exports (domestic)
do
do
6/82 100
.
70
898
2
929
11 704
Ore
Iron ore (operations in all U.S. districts):
For sale
Castings, malleable iron:
Shipments total
For sale
61
960
1
932
9950
32
Iron and Steel Scrap
Production
thous sh tons
Receipts net
do
Consumption
do
Stocks end of period
do
Producer Price Indexes, iron and steel scrap:
No 1 heavy melting composite *
1967 — 100
Pittsburgh district *
do
Stocks end of period
Producer Price Index basic
Castings, gray and ductile iron:
72
1,063
10
do
do
4
OQOQ
984
416
r
50
16
44
16
4,048
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
S-25
SURVEY OF CURRENT BUSINESS
May 1987
Annual
IT ..
Lnits
1985
1987
1986
Mar.
1986
Apr.
June
May
July
Sept.
Aug.
Nov.
Oct.
Mar.
Feb.
Jan.
Dec.
Apr,
METALS AND MANUFACTURES—Continued
Steel, Raw and Semifinished
Steel (raw):
Production.......
thous. sh. tons ..
Rate of capability utilization
percentSteel castings:
Shipments, total
thous sh tons
For sale, total
do ....
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
Bars and tool steel, total
do....
Bars: Hot rolled (including
light shapes)
do
Bars: Reinforcing
do
Bars: Cold
finished
..do
Pipe and tubing
do....
Wire and wire products ..
do....
Tin mill products
do
Sheets and strip (including electrical),
total
do
Sheets: Hot rolled
do....
Sheets: Cold rolled
do....
By market (quarterly):
Service centers and distributors
do ....
Construction, incl. maintenance
do ....
Contractors' products
do....
Automotive
do
Rail transportation
do
Machinery, industrial equip., tools
do ..
Containers, packaging, ship,
materials
do
Other
do
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. tonsFinished steel j
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 ....
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. met. tons ..
Recovery from scrap "("••••
do
Imports (general):
Metal and alloys, crude
do
Plates, sheets, bars, etc
do
Exports:
Metal and alloys, crude
do
Plates, sheets, bars, etc
do
Price, U.S. market, 99.7% purity,
monthly average
$perlbAluminum products:
Shipments:
Ingot and mill prod, (net ship.)
mil Ib
Mill products, total
do
Sheet and plate
do
Castings
do
Inventories, total (ingot, mill products, and
scrap), end of period
mil Ib
Copper:
Production:
Mine, recoverable copper
thous. met. tonsRefined from primary materials
do
Electrolytically refined:
From domestic ores
do
From foreign ores
do
Electrowon *
do
Refined from scrap ().....
do....
Imports, unmanufactured (general):
Refined, unrefined,
scrap (copper cont.)
do....
Refined
do
Exports:
Refined and scrap
do
Refined
do
Consumption, refined
(reported by mills, etc.) Q
do ..
Stocks, refined, end of period 6
do....
Price, avg. U.S. producer cathode, delivered §
$ per Ib ..
See footnotes at end of tables.
7,947 '
71.9
7,787
73.5
6,730
63.5
6,352
59.2
5,668
52.8
5,644
54.3
6,087
56.8
5,860
56.5
5,877
54.9
70
66
65
62
66
64
69
66
77
74
75
72
77
73
6,007
5,815
5,364
5,608
5,923
4,899
433
393
384
412
418
351
391
352
61
1,106
402
326
50
1,048
418
317
44
1,014
384
265
49
950
366
242
44
951
395
274
39
1,028
582
412
107
226
102
340
547
391
105
229
96
347
524
387
98
236
93
382
512
337
98
211
88
320
499
349
98
191
81
310
3,189
1,036
1,180
3,077
999
1,151
2,918
906
1,075
2,713
840
949
3,010
1,003
1,062
7,616
69.5
88,259
66.1
80,470
62.9
940
904
879
842
'73,043
'70,263
4,345
4,954
411
430
444
'4,698
'4,327
931
'12,668
'4,528
3,565
640
12,171
414
312
74
1,057
404
338
71
1,120
'7,027
4,326
1,255
4,096
1,136
3,772
6,559
4,299
1,257
2,836
1,080
3,802
562
379
110
308
100
337
608
391
116
264
113
349
'37,069
12,952
13,574
36,686
'12,167
' 13,250
3,130
1,049
1,151
17,548
6,407
2,663
12,725
1,059
2,129
'15,251
'5,141
'2,559
'9,871
'674
'1,323
'4,348
1,550
r
650
r
3,251
'241
523
4,367
1,700
674
3,158
211
537
3,986
1,489
646
2,689
163
436
3,599
1,099
641
2,166
136
298
4,069
'26,098
4,075
'23,367
r
r
993
6,825
1,098
6,758
1,093
6,313
895
5,456
23.5
7.4
6.2
T23.5
7.3
5.9
63
61
6,142
23.7
7.5
6.0
84
81
6,283
3,195
1,030
1,214
83
79
6,212
23.9
24.1
7.5
6.1
7.5
6.2
7.2
6.1
23.8
23.8
7.1
6.1
23.7
7.2
6.1
23.0
79
75
5,199
5,664
5,527
367
430
413
317
224
31
858
322
256
40
858
365
262
41
933
369
255
37
965
532
387
104
210
89
287
475
293
86
179
68
262
, 490
278
85
173
64
272
537
282
110
188
80
280
540
316
105
207
88
280
3,181
1,069
1,112
2,609
875
924
2,847
1,004
974
3,087
1,021
1,088
2,913
969
1,020
1,270
2
410
2
181
1,011
56
169
1,204
428
170
969
51
156
317
2,252
304
2,244
22.3
23.0
7.0
6.0
6.7
5.8
7.2
5.9
2
7,375
77.3
r
23.5
7.3
5.9
7.0
5.7
7.0
5.5
5.8
5.9
5.8
5.7
5.9
5.9
6.0
6.0
6.1
6.0
5.7
5.5
5.5
5.7
4.6
44.5
43.9
4.3
3.7
3.7
4.4
4.0
3.9
4.4
4.0
4.0
4.5
3.9
3.8
4.5
3.7
3.6
4.4
3.4
3.5
4.3
4.1
4.2
4.3
3.7
3.7
4.4
3.2
3.1
4,6
3.5
3.3
3,499
1,728
3,036
1,739
281
147
275
153
284
150
241
138
231
151
235
147
231
164
243
146
239
133
252
134
960.9
463.4
1,468.4
495.3
144.4
34.0
167.3
41.6
137.0
37.1
131.2
63.3
136.1
41.0
106.1
34.6
118.3
42.6
383.0
174.5
228.6
203.3
14.1
18.2
18.7
19.2
12.6
15.9
12.1
12.7
17.2
14.3
18.0
16.7
21.2
18.9
.4881
.5587
.6157
.5935
.5777
.5674
.5412
.5449
.5540
14,462
11,092
6,442
2,228
14,377
11,415
6,647
2,276
1,395
1,030
609
205
1,340
1,064
624
211
1,388
1,086
654
199
1,203
938
540
191
1,115
908
530
152
1,133
915
526
162
5,054
5,097
5,045
5,044
5,084
96.8
75.5
94.2
88.1
97.5
91.9
94.8
89.8
20.0
14.1
r
77
4.1
53.6
57.5
140.9
40.5
5,992
69.5
6,248
65.5
262
142
85.2
28.9
126.0
36.1 !
124.6
40.7
111.1
41.9
19.1
20.7
23.5
14.1
17.0
20.2
; 25.5
26.3
23.5
24.2
.5357
.5250
.5284
.5460
, .5945
.6254
1,117
932
523
178
1,219
972
548
198
1,038
841
507
178
1,058
872
520
165
1,177
r
931
'555
183
1,249
926
543
192
5,059
4,976
4,927
4,902
4,928
'4,946
4,864
95.2
98.8
94.9
86.2
97.9
88.9
100.5
94.5
92.8
90.0
97.4
102.0
103.9
'93.6
94.6
87.1
100.4
48.9
1,105.8
945.6
1,149.7
1,071.3
890.4
55.2
93.5
363.2
906.6
40.6
124.5
492.7
62.8
3.6
9.1
45.2
73.8
4.8
9.5
42.6
79.5
2.6
9.8
42.4
77.3
2.1
10.4
40.8
84.8
3.4
10.6
39.1
71.7
3.8
10.8
37.4
73.5
3.9
11.4
43.9
80.0
3.1
11.4
43.5
72.9
5.2
11.9
36.0
87.1
2.8
12.1
36.7
79.5
2.1
11.9
38.1
73.7
2.9
10.5
37.4
483.2
390.7
667.5
503.1
57.4
49.5
46.6
38.2
69.7
54.9
45.3
36.8
51.8
36.0
43.4
36.0
92.9
37.3
40.4
31.7
67.2
55.6
40.8
31.2
41.7
34.4
50.7
38.7
63.7
55.8
463.0
48.1
497.1
14.9
45.2
1.2
33.8
1.0
50.6
2.4
38.1
.9
29.6
.8
55.1
1.8
25.3
1.7
46.2
.6
41.6
.9
43.9
.8
26.5
.8
40.5
1.9
46.3
2.4
1,899
311
2,032
221
185
270
172
259
162
258
170
241
167
274
128
262
155
232
185
209
171
198
152
221
166
211
167
197
.6697
.6605
.6880
.6708
.6747
.6382
.6237
.6484
.6346
.6286
.6364
.6499
.6552
.7014
r
7,402
80.3
S-26
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
SURVEY OF CURRENT BUSINESS
IT •*
Vnils
1985
May 1987
1987
1986
Annual
Mar.
1986
Apr.
June
May
July
Aug.
Sept.
Nov.
Oct.
Jan.
Dec.
Apr.
Mar.
Feb.
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND
PRODUCTS—Continued
Copper-base mill and foundry products,
shipments (quarterly total):
Brass mill products
.. mil Ib
Copper wire mill products
(copper content)
do
Brass and bronze foundry products
do
Lead:
Production:
Mine, recoverable lead
thous met tons
Imports (general), ore (lead content),
metal
do
Consumption total
do
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) A
do
Scrap (lead-base, purchased), all smelters
(gross weight)
thous met tons
Price, common grade delivered
$ per Ib
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
Stocks, pig (industrial), end of
period
do
Price Straits quality (delivered)
$ per Ib
Zinc:
Mine prod recoverable zinc
thous met tons
Imports (general):
Ores (zinc content)
do
Metal (slab, blocks)
do..
Consumption (recoverable zinc content):
Ores
do
Scrap all types
do
Slab zinc: ©
Production, total $.....
thous. met. tons . .
Consumption, fabricators
. do
Exports
do
Stocks, end of period:
Producers', at smelter (ABMS)
. do....
Consumers'
do
Price, high grade
$ per Ib
MACHINERY AND EQUIPMENT
Heating, combustion, atmosphere equipment, new
orders (domestic), net, qtrly #
mil $
Electric processing heating equipment .. ..do
Fuel-fired processing heating equip..
do..
Material handling equipment (industrial):
Shipments *
.
do
Industrial supplies, machinery and equipment:
New orders index seas adjusted
1977—100
Industrial suppliers distribution:
Sales index seas adjusted
1977—100
Inflation index, not seas. adj. (tools, material
handling equip., valves, fittings, abrasives,
fasteners, metal products, etc ) . 1977—100
Fluid power products shipments indexes:
Hydraulic products § .
. 1985—100
Pneumatic products §
do
Machine tools:
Metal cutting type tools:
Orders new (net) total
mil $
Domestic
do
Shipments, total
do
Domestic
do
Order backlog, end of period ......
do....
Metal forming type tools:
Orders, new (net), total
...
do
Domestic
. do
Shipments, total
do .
Domestic
do
Order backlog end of period
do
See footnotes at end of tables.
2363
2318
590
580
578
569
13 880
541
1792
478
464
149
459
158
453
112
445
125
4140
594 2
337 8
590 8
380
53 2
338
50 2
249
59 1
236
46 0
250
41 0
23 3
50 2
240
46 2
242
51 3
207
508
241
47 5
565
1 1 148 3
1034
10777
23
796
17
908
13
860
37
84 1
147
71 0
127
949
86
101 5
189
1059
14.4
897
14.6
927
r
r
239
500
236
499
17.2
908
11.6
857
2.6
592
61 3
740
586
580
47 5
575
71 5
745
720
739
649
740
670
534
839
931
204
550
105 1
669
1043
621
1054
640
954
599
804
643
732
583
521
530
376
501
272
535
204
553
310
580
338
57.6
220 ,
1907
194
2205
242
1820
254
1873
21 2
1938
21 1
2207
248
2194
226
2242
21 1
2343
196
2555
163
2801
194
2868
21 4
2788
202
2604
4030
35768
7243
7
714
50 100
37400
3 022
214
3278
730
67
5081
631
n OQO
204
677
2508
564
4 100
3 100
98
4 100
3000
213
293
1833
419
144
4000
3000
199
378
2371
601
4 500
3400
307
936
2789
534
138
4400
3300
269
94
4111
368
4200
3 200
185
629
143
4400
3300
259
4300
3200
167
957
4268
585
141
3900
2900
261
2194
607
148
3900
2900
112
2935
r
810
164
r
4
100
r
3000
102
C
727
3,347
831
137
4000
3000
120
4802
3 6991
3 097
45579
4 127
36425
3987
65224
4032
34661
4 166
34652
4 246
34701
3497
34583
3 554
3 5387
4681
38422
4802
40277
5232
4 1849
6394
4 1715
2265
201 1
196
153
122
142
166
154
166
194
152
177
172
17 9
91 4
5687
1977
6671
106
57.8
36
500
8
538
117
401
256
60.9
239
44.8
166
61.3
306
51.8
24 l
56.5
254
56.6
378
43.4
51.9
527
251 o
14 6
2588
35
202
33
205
49
21 6
59
214
207
7
208
g
21 8
270
219
5
226
r
5
227
5
224
301.0
'7118
7
269.9
674 1
19
19.4
599
2
21.3
562
2
24.0
578
(2)
22.7
591
(2)
22.2
548
22.7
586
1
24.1
582r
21.8
52.5
1
23.8
52.8
2
r
23.4
55.7
2
24.3
54.0
35.6
754
4037
15.5
44 4
3800
25.4
459
3122
19.6
45 0
3213
15.4
42 3
3297
11.3
38 9
3654
7.4
42 2
4370
8.7
46 0
4598
10.7
457
4578
15.5
427
4351
16.6
442
4140
19.5
444
3838
1633
33 831
9045
4
l 176
51 600
38900
2 875
5
/
5665
5 9595
8
6 g
90 q
Zo.o
51 4
(2)
(2)
9.0
44 5
3955
9.3
42 7
4083
'2395
'1000
'1395
430
21 1
219
42724
4148
3944
4447
4734
3972
4202
r
r
r
285
2
195
3,034
200
28.3
64.8
25.6
18.7
.3838
309
105
205
302
17 8
124
1199
1186
1164
1160
119 4
116 7
1166
118 1
1200
1203
1197
121 2
1192
124 3
147 3
1450
1402
147 9
147 1
141 4
146 1
1480
1455
1545
144 1
128 1
139 0
1387
142.4
1629
1647
1638
1644
1645
1647
1651
1650
1651
1653
1653
1656
165.7
r
102
r
!04
107
107
r
99
r
r
92
r
r
97
r
r
r
99
104
100
1 853 10 1 544 25 159 90
1 652 15 1 376 55 146 05
171 55
1 742 25 1*890 30
1 548 50 1 684 70 14820
897.2 1,319.8
1,243.3
136 15
11830
152 10
14005
1,303.9
141 70
11850
17245
153 10
1,273.2
156 80
145 65
24480
22670
1,185.2
57 10
5095
5745
5075
3558
6450
5850
5710
5400
3632
4435
4490
6710
6230
3404
100
100
1
675 00
'61000
'80295
'74295
4142
98
98
581 05
50680
68820
621 35
307 1
5470
5075
7725
71 10
3562
165.8
165.9
90
98
1-95
95
102
87
r
85
r
90
r
87
94
94
103
r
97
113
107
12880
9925
149 10
13590
1,164.8
115 10
10860
10825
9250
1,171.7
100 15
8995
161 35
140 80
1,110.5
130 85
11495
18350
170 40
1,057.8
8395
7585
11680
10440
1,025.0
87 25
7405
21500
18910
897.2
9895
9565
11125
104 10
885.0
10370
9835
99 25
8880
889.4
12445
10855
13775
117.40
876.1
41 20
3605
4095
3660
3407
3930
3040
4310
3905
3369
35 10
2365
4660
40 30
3254
4930
4445
5930
5240
315 4
4865
4230
5000
4470
3140
4930
3705
5625
4320
307 1
4770
3290
3645
31 25
3184
4915
4310
4735
4265
3202
40.75
28.70
43.85
3585
3170
94
23.0
(2)
15.6
S-27
SURVEY OF CURRENT BUSINESS
May 1987
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
Annual
....
ljnils
1985
1987
1986
1986
Mar.
Apr.
May
June
July
Sept.
Aug.
Oct.
Nov.
Jan.
Dec.
Feb.
Apr.
Mar.
METALS AND MANUFACTURES—Continued
MACHINERY AND
EQUIPMENT— Continued
Tractors used in construction, shipments, qtrly:
Tracklaying (ex shovel loaders)
units
mil $
Wheel (contractors' off-highway)
units
mil $
Shovel loaders $
units
mil $
ELECTRICAL EQUIPMENT
Batteries (auto.-type replacement),
shipments
thous
Radio sets production total market
thous
Television sets (incl. combination models),
production, total market
thous
Household major appliances (electrical), factory
shipments (domestic and export) #
thous..
Air conditioners (room)
do....
Dishwashers
.
do
Disposers (food waste)
do
Microwave ovens/ranges @ ....
do
Ranges
do
Refrigerators
do....
Freezers
,
....do ....
Washers
do
Dryers (incl gas)
do
Vacuum cleaners (qtrly.)
do....
GAS EQUIPMENT (RESIDENTIAL)
Furnaces, warm air, shipments
thous ..
Ranges, total, shipments
do....
Water heaters (storage), automatic,
shipments
do....
1389
1530
1002
79.2
12405
3686
1 558
141 3
1144
851
11 308
3260
7 321
6287
7080
4866
70653
23646
8080
805 1
5375
3986
51419
1 5745
2 147
2276
1586
1053
13027
4056
58684
22 851
60306
25364
3760
*1 338
4089
1 348
4243
2065
4061
'2228
4662
1813
5668
2832
6461
'2774
6936
3 165
5969
2822
3798
'2404
1 549
1893
1876
20525
23351
'1888
2045
1570
1
1 975
1583
1927
'2337
2209
2161
'2353
1820
1,721
2,194
41,797
3,022
3575
4105
10883
3 142
6,080
1,236
5278
3914
45,072
2,816
3918
4269
12,444
3318
6,510
1,222
5765
4245
3,477
422
295
345
870
240
419
80
408
314
3,749
456
337
300
879
266
549
99
446
325
3,909
451
301
318
1051
257
570
106
459
309
4,090
427
317
410
903
301
692
140
494
324
3,985
361
323
296
892
283
730
159
521
358
3,712
89
339
363
1,024
271
605
122
500
356
4,006
89
346
414
1,183
294
597
110
554
408
4,085
53
386
404
1,137
319
611
94
600
460
3,425
56
330
347
1,129
278
449
72
410
350
3,609
92
338
338
1,188
283
434
72
485
357
4,082
155
337
449
1,332
282
474
84
506
435
3,477
243
324
367
892
248
461
82
447
366
4,053
5B2
350
364
838
279
517
105
510
390
1,822
1,814
2,105
1,940
160
164
140
144
151
150
149
178
147
127
199
156
218
189
252
182
202
173
182
187
168
180
153
160
149
184
3,529
3,729
343
344
270
295
292
273
290
346
294
322
346
340
352
340
95
639.6
327
12
641.6
337
8
641.2
389
42
641.2
636.8
72,220
69,477
73,401
71,607
62,350
53,640
149,970
151,236
4,709
532.7
4,634
531.2
6,417
528.8
5171
2986
2831
1643
1290
14679
4743
1,552
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production "1"
thous sh tons
4,708
3,760
Exports
do
1,460
1,286
Producer Price Index
1967=100 ..
616.3
638.6
Bituminous:
Production t
thous. sh. tons- 878,930 884,395
Consumption, total t
do.... 815,132 801,811
Electric power utilities
do
692,808 684,227
Industrial, total
do
115,853 111,151
Coke plants (oven and beehive)
do.... 41,026 35,973
Residential arid commercial
do ....
6,470
6,433
Stocks end of period total t
do
162,976 168,073
Electric power utilities
do.... 149,188 154,707
Industrial, total . .
do
13,789
13,367
Oven-coke plants
..
do
3,409
2,985
Exports
do
91,361
84,017
Producer Price Index
....1967—100..
534.7
543.5
260
61
646.4
300
118
635.1
74,894
77,569
58,670
64,317
48,030
53,810
9,959
10,043
3,599
3,553
463
681
159,192 166,250
147,269 153,949
12,301
11,922
3,217
3,061
8,181
6,089
536.5
538.3
298
195
635.8
330
162
635.5
333
274
635.5
431
138
635.5
373
199
635.7
72,671 67,818
73,137
68,030 76,621
61,375
67,954
58,828
51,352
8,261
8,878
9,612
2,589
3,531
3,069
406
411
325
170,214 168,819 155,648
157,534 155,761 142,645
13,003
13,058
12,680
3,306
3,529
3,373
7,579
7,166
8,489
535.2
535.6
535.1
76,549
70,430
61,645
8,402
2,576
383
154,993
142,046
12,947
3,083
7,553
534.4
75,022
65,132
56,489
8,134
2,532
509
157,690
144,799
12,891
2,860
7,915
533.6
76,832
62,964
54,059
8,359
2,519
545
163,094
150,044
13,050
2,902
7,066
533.1
68,671
63,431
54,074
8,780
2,541
577
153/788
13,208
2,943
6,475
530.9
70,264
69,496
59,020
9,738
2,637
738
168,073
154,707
13,367
2,985
6,436
r
530.4
3,137
5,513
3,146
3,053
2,906
5,618
3,166
3,208
2,919
1,304
240
2,141
1 747
394
1,296
26
1,231
72
1,143
151
2,066
1778
288
1,206
76
1,373
67
1,414
31
75
382.4
294
52
635.1
297
150
636.1
r
363
COKE
Production:
Beehive and oven (byproduct)
Petroleum coke §
Stocks, end of period:
Oven-coke plants total
At furnace plants
At merchant plants
Petroleum coke
Exports
thous. sh. tons ..
do
do
do
do
do
do
PETROLEUM AND PRODUCTS
Crude petroleum:
Producer Price 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 Q
mil bbl
Production:
Crude petroleum
do
Natural gas plant liquids
do
Imports:
Crude and unfinished oils
do....
Refined products
do....
Change in stocks, all oils
do....
Product demand, total
do....
Exports:
Crude petroleum
do
Refined products
do
See footnotes at end of tables.
28,651
33,204
25,540
36,397
7,252
3,006
2,553
2,148
404
1,232
1,179
2,066
1,778
288
1,206
1,063
2,319
1,898
421
1,456
83
2,828
1,403
67
3,166
7,156
3,158
1,454
113
2,174
1,750
424
1,366
83
3,030
i',256
81
r
619.4
343.8
353.1
300.7
293.0
300.8
272.6
263.8
311.8
308.8
307.4
308.3
368.6
384.8
4,440.2
78
4,679.4
83
364.3
76
377.1
81
411.6
86
400.2
86
402.8
84
414.7
87
397.6
86
395.3
83
387.9
84
400.4
84
392.8
81
346.6
79
5,730.9
5,967.4
474.1
472.7
511.9
510.2
528.1
527.9
505.2
501.5
487.8
508.1
506.2
444.0
3,274.6
607.5
3,163.9
592.2
279.1
51.4
265.5
47.9
274.1
51.4
257.7
48.4
267.7
50.1
260.1
48.6
250.0
46.0
261.4
47.4
249.6
48.3
258.8
48.9
262.8
51.7
232.9
47.4
1,308.6
540.3
-37.5
6,024.6
1,612.6
598.8
74.8
6,172.6
101.1
42.6
-26.0
523.7
122.5
36.8
-8.8
497.0
136.8
49.6
25.6
513.5
150.0
54.1
35.3
498.6
152.9
57.3
37.0
518.0
158.2
61.1
5.4
544.0
159.5
49.7
36.4
494.0
143.5
49.2
-8.2
535.2
143.4
46.5
2.2
505.7
142.5
58.0
-20.4
549.1
143.8
47.9
-5.8
533.5
117.3
46.4
-22.8
495.9
74.5
209.9
56.2
224.5
6.6
15.3
2.8
21.9
3.0
19.0
7.2
11.5
2.0
17.7
7.2
19.5
4.8
16.5
4.7
20.8
3.4
20.7
4.9
20.4
3.0
22.6
8.4
19.3
390.3
:::::::::::::: :::::::::::::::
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
(T -t
Lnits
Mar.
1986
1985
May 1987
1987
1986
Annual
May
Apr.
June
Aug.
July
Apr.
Mar.
Oct.
Nov.
Dec.
Jan.
Feb.
472.7
206.6
1.4
75.4
38.5
40.0
4.4
21.0
44.2
1,620.0
844.2
506.4
509.7
225.1
3.1
90.1
37.8
39.2
4.3
18.8
54.8
1,611.8
850.5
507.5
481.5
206.6
3.4
86.0
41.3
41.2
1.9
9.7
53.6
1,614.0
848.7
509.5
523.8
220.1
4.8
103.0
50.1
44.6
3.3
6.8
57.2
1,593.5
842.8
511.6
507.8
201.2
5.1
101.0
45.3
40.9
5.3
5.7
61.6
1,587.7
848.7
514.9
468.2
189.1
4.2
93.7
41.2
40.4
4.7
4.8
50.8
1,564.9
848.7
516.7
Sept.
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS t— Continued
All oils, supply, demand, and stocks—Continued
Domestic product demand, total #
mil. bbl..
Gasoline
do
Kerosene
do
Distillate fuel oil
do
Residual fuel oil
.....do....
Jet fuel
do
Lubricants
do
Asphalt
do
Liquefied petroleum gases
do....
Stocks, end of period, total
do....
Strategic petroleum reserve
Unfinished oils, natural gaso-
do....
Refined nroducts
do
Refined petroleum products:
Gasoline (incl. aviation):
Production
do
Stocks end of period
do
Prices, regular grade (excl. aviation):
Producer Price Index $
2/73—100
Retail, U.S. city average (BLS):
Leaded
$ per gal.
Unleaded
do ....
Aviation gasoline:
Production
....mil. bbl ..
Stocks end of period
do
Kerosene:
Production
do
Producer Price Index (light
distillate) $
.
Distillate fuel oil:
Production
Imports
Stocks end of period
Producer Price Index (middle
distillate)!
..
Residual fuel oil:
Production
Stocks end of period
Producer Price Index $
Jet fuel:
Production
Stocks end of period
Lubricants:
Stock
Asphalt:
d f
At gas processing plants
(L P G )
At refineries (L.R.G.)
Stocks (at plants and refineries)
501.8
216.9
4.0
98.2
43.2
37.3
4.6
6.7
47.6
1,489.0
837.8
496.9
472.3
213.5
1.7
88.2
39.7
37.6
4.1
12.1
40.4
1,480.3
836.9
498.8
491.4
217.9
2.4
85.9
41.3
38.7
5.5
16.3
40.4
1,505.8
828.7
499.9
479.9
217.0
1.1
74.4
40.5
39.4
4.2
19.3
41.1
1,541.1
827.2
501.8
498.3
234.2
1.9
76.8
46.8
40.4
3.7
21.2
36.7
1,578.1
845.2
503.4
148.0
556.6
140.9
609.9
145.7
505.6
150.3
493.0
154.1
523.0
156.7
557.2
152.8
580.2
144.0
601.8
144.7
631.1
151.5
609.8
146.4
618.9
140.9
609.9
142.8
596.3
154.2
562.0
2,352.3
192.4
2,476.3
196.5
188.6
187.2
195.8
176.7
220.7
191.5
214.1
199.7
217.4
192.7
221.7
190.3
208.0
199.2
206.7
187.6
207.2
193.2
216.0
196.5
208.2
211.7
179.0
209.6
310.4
348.4
361.4
507.3
333.4
327.8
286.6
282.5
311.9
284.5
283.9
289.1
320.5
340.4
2
1.115
2
1.202
.857
.927
.894
.981
.815
.888
.852
.923
.885
.955
.822
.890
.778
.843
.797
.860
.771
.831
.762
.821
.764
.823
.806
.862
.848
.905
9.3
2.1
10.9
2.2
.7
2.2
.9
2.1
1.0
2.0
1.1
2.1
1.2
2.2
1.4
2.3
1.0
2.5
.9
2.5
.7
2.5
.4
2.2
.8
2.4
.7
2.5
34.5
7.5
34.3
8.6
3.1
6.1
2.5
6.9
1.8
6.3
1.5
6.7
2.1
6.9
2.2
7.0
2.9
8.6
2.8
8.6
3.2
8.6
4.1
8.6
4.0
8.5
2.2
7.6
341.0
.879
.934
487.0
501.9
809.3
534.5
684.6
584.8
523.8
504.4
452.7
413.3
426.8
423.9
419.4
429.1
451.9
487.9
980.9
73.1
143.7
1,021.4
85.9
155.0
82.0
6.7
99.3
83.7
4.4
95.3
88.6
4.5
97.8
82.0
4.9
108.8
84.1
9.1
122.8
90.7
11.0
138.1
85.8
7.2
152.6
84.2
7.6
152.1
87.4
7.0
158.4
91.2
10.1
155.0
86.0
6.1
141.4
72.1
6.4
123.5
1967-100.
821.5
499.8
519.1
504.3
476.4
452.9
369.0
406.5
469.0
436.0
440.7
461.8
520.3
537.9
503.2
526.1
mil bbl
322.0
186.3
50.4
983.1
323.8
237.2
47.5
527.1
25.1
17.7
38.8
647.2
27.8
15.1
35.9
517.3
28.3
20.6
39.6
477.7
24.5
20.6
43.0
453.0
26.3
20.7
40.4
434.0
27.8
24.8
41.3
361.0
25.6
18.9
44.0
419.1
25.6
18.5
45.8
453.4
29.2
16.8
46.3
450.8
30.6
27.7
47.5
r
462.1
28.5
20.7
45.0
528.7
23.3
17.1
38.1
625.2
591.8
614.6
39.8
50.1
43.8
49.7
42.3
50.2
37.0
47.9
433.9
40.5
471.9
49.7
40.0
47.4
34.8
45.3
37.2
45.0
38.3
403
39.9
48.5
39.4
48.3
38.7
48.7
40.7
50.6
H
53.1
11.8
55.1
14.8
4.2
12.0
4.3
12.0
5.0
11.3
4.4
11.3
4.3
11.2
4.8
11.3
5.1
11.7
4.4
11.3
5.0
13.9
4.8
14.8
5.1
14.3
4.4
13.7
do
146.3
21.2
149.8
17.6
8.3
27.3
11.5
27.3
15.8
27.8
17.3
27.0
18.0
25.0
18.3
22.6
16.0
18.9
14.2
15.2
10.4
16.6
7.0
17.6
6.6
19.3
6.5
21.7
622.0
631.1
53.6
51.2
54.5
51.6
53.8
52.4
49.5
51.0
51.2
52.5
54.7
50.0
do
do...
do ...
479.3
142.6
73.5
473.7
157.3
102.7
41.7
11.9
70.4
38.8
12.4
76.5
40.5
14.0
87.0
38.4
13.3
97.5
39.6
14.2
116.1
38.2
14.2
126.2
36.3
13 3
130.4
37.8
13.2
122.7
38.5
12.7
115.5
39.6
12.8
102.7
41.1
13.6
87.4
38.1
119
81.6
7639
7,795
4794
8,074
8,049
4712
7,694
7,541
4900
l,349
r
933
1,432
r
781
1,380
769
PULP, PAPER, AND PAPER PRODUCTS
Receipts
Inve to
PULPWOOD
thous cords (128 cu ft )
e d of
'od
d
1 85 499 1 90 943
1
85 744 1 91 434
4 794
5046
7 294
7478
5 433
7 591
7742
5 335
7 277
7499
4 910
7 372
7 563
4 851
7770
7 812
4836
7465
7 582
4835
7493
7 362
4970
8247
7779
5501
7 224
7,681
4909
do
n 15 623 n 16 670
r
r
933
969
1 431
887
1 358
891
1443
844
1 384
843
1 320
884
1 390
'851
1 380
877
1 419
948
1,408
r
878
4844
109
3922
4763
97
3 859
4771
110
3856
4844
107
3942
4742
103
3797
4903
113
3961
4,662
104
3763
4,871
98
3942
4,757
95
3854
4,926
122
3997
5,082
108
4113
4,622
98
3,755
WASTE PAPER
Inventories end of period
r
WOODPULP
Production:
Total
Semi-chemical
Inventories, end of period:
At pulp mills:
Market pulp
Market pulp at paper and board
Ex rts all ades total
Dissolving and special alpha
All other
Imports all grades total
Dissolving and special alpha
All other
See footnotes at end of tables.
1
do
n 52 429
1 174
r
41 978
do
5251
4027
5545
4 133
467
346
459
347
466
340
450
345
474
368
469
359
457
338
481
350
464
345
470
338
497
364
443
326
r
!65
r
485
174
284
143
372
149
365
164
365
171
304
176
353
195
352
186
303
176
292
175
353
174
284
183
352
200
338
492
'3794
631
J
3161
'4466
117
7
4 349
569
4 308
711
J
3599
J
4340
148
14 193
543
414
57
357
145
15
130
537
358
62
296
349
17
332
508
365
63
303
422
6
417
568
368
54
315
370
16
355
579
299
46
254
401
5
396
542
418
63
355
422
18
404
558
457
83
374
379
18
361
527
344
61
283
372
12
359
553
312
53
259
467
7
460
569
409
66
343
295
11
284
530
285
53
232
441
5
436
561
372
65
307
392
12
379
thous sh tons
Pat>er grades chemical oulo
Groundwood and thermo-
359.0
.856
.912
mil bbl
do
do
mil bbl
do
Stocks end of period
Liquefied petroleum gases:
5,891.9
2,572.2
36.6
1,059.8
510.5
475.5
47.3
163.5
562.2
1,593.5
842.8
511.6
1967-100
do
1967=100 ..
*od
517.3
231.7
3.0
84.5
46.3
41.6
4.1
21.5
41.5
1,583.5
837.7
505.0
5,740.1
2,503.3
41.6
1,046.8
438.8
444.7
53.1
155.1
583.6
1,518.8
814.2
493.3
do
do
do
do
do
do
do
57 268
1 258
46333
1
469
83
553
447
12
459
S-29
SURVEY OF CURRENT BUSINESS
May 1987
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
IT
u
..
1985
1987
1986
Annual
1986
Mar.
May
Apr.
June
Aug.
July
Dec.
Nov.
Oct.
Sept.
Apr.
Mar.
Feb.
Jan.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS
Paper and board:
Production (API):
Total
thous. sh. tonsPaper....
do ...
Paperboard
do
Producer price indexes:
Paperboard
1967=100..
Building paper and board......
. do
Selected types of paper (API):
Groundwood paper, uncoated:
Ord rs' u f llpd
H f
'r»H
H
1
6,278
3,083
3,194
286.0
262.3
290.2
261.7
292.6
261.7
122
131
124
140
127
134
110
119
128
151
127
134
507
434
535
515
399
540
557
466
568
533
487
526
534
435
553
922
958
839
854
856
899
860
906
838
873
883
944
274
415
272
454
263
424
280
439
'260
414
274
435
780
790
374
744
840
278
808
816
270
782
743
309
783
815
277
794
750
322
r
765
756
331
848
846
334
433
433
89
441
444
86
420
437
69
426
436
58
429
426
61
428
440
49
400
402
65
431
442
54
996
931
997
999
869
678
892
823
893
760
904
668
888
726
803
791
323.1
323.5
322.2
322.3
333.6
23,419
23,976
23/726
24,390
6,221
3,078
3,143
'280.8
262.0
132
129
134
555
458
570
841
893
277
430
818
758
384
420
425
90
1035
889
659
870
752
324.3
324.1
324.1
22,479
25,174
23,365
6065
3031
3034
5849
2923
2926
6,046
2,980
3065
5,910
2,932
2978
5,774
2,881
2893
6,114
3,029
3085
5,872
2,974
2,898
6,180
3,123
3,057
5,878
2,927
2,950
274.6
2571
272.3
2607
267.0
2572
267.6
260.8
269.0
262.4
268.5
262.6
272.2
262.2
274.9
262.2
274.9
262.7
276.2
265.0
278.1
262.7
1 477
106
1,516
/ I 543
131
1
1,523
128
115
127
127
103
127
115
99
120
139
117
123
152
141
128
138
149
126
122
141
132
130
132
137
533
428
504
479
405
510
487
402
497
529
424
504
529
475
484
562
467
556
549
478
555
879
929
866
875
904
896
875
897
889
893
922
903
295
436
292
424
282
445
278
419
277
395
747
754
373
777
800
349
783
771
361
770
807
324
444
434
99
409
415
93
446
443
96
1000
904
708
1
1
Shipments
do..
Coated paper:
1
Orders new
do
5 642 '6275
399
393
Orders, unfilled, end of period
do....
Shipments. ...
.
.
do
6260
5875
Uncoated free sheet papers:
Orders new
do
'9704 1 10 528
n 10 013 n 10 751
Shipments
do
Unbleached kraft packaging and industrial
converting papers:
1
Shipments
thous sh. tons..
3,403 rl 3,304
Tissue paper production
do
M941 '5095
Newsprint:
Canada:
9 289
8 988
9302
Shipments from mills
do
8 996
277
290
United States:
4924
Production
do
5 108
Shipments from mills
do
5 115
4 927
Inventory, end of period
do
49
57
Estimated consumption, all
users A
'
do
11 587 11 936
Publishers' stocks, end of period #
910
849
Imports
thous sh tons
8472
8589
Producer Price Index,
standard newsprint
1967—100..
332.4
326.1
Paper products:
Shipping containers, corrugated and solid
fiber shipments
mil. sq. ft. surf. area.. 267,453 283,621
1 004
r
r
5,768
'2,882
2,887
5,929
2,970
2,959
71,035
35,532
35503
'67,076
34,042
33034
r
r
r
271
421
r
445
427
67
908
r
849
594
845
781
r
333.8
333.6
27,132
21,406
22,030
1,088
1,078
r
1,010
1,034
907
879
696
868
759
340.5
343.0
342.2
24,708
22,704
24,755
49.94
7667
85;38
7878
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption.....
'
thous metric tons
Imports, incl. latex and guayule
thous. long tons ..
US Import Price Index *
12/83—100
Synthetic rubber:
Consumption
Stocks end of period
do
do
TIRES AND TUBES
Pneumatic casings, automotive:
Shipments total
Original equipment
Exports
Exports (Bu of Census)
Inner tubes, automotive:
Exports (Bu. of Census)...
See footnotes at end of tables.
do
do
do
do
do....
77468
95 17
74465
33 52
7127
100 42
8194
98 58
4545
98 63
5456
96 65
6990
93 83
4993
86 39
57.04
91 57
80.33
75 26
50.77
7823
51.19
3851
779.83
719
752.99
77 0
76.62
77 5
83.12
47.64
54.01
746
68.96
44.47
62.91
767
72.34
53.13
55.83
792
55.01
89.85
1 837 86 1 985 49
1 801 76 1 872 50
21387
21691
306 94 338 85
189 14
175 73
397 65
2400
178 57
157 56
40296
35 39
167 81
16385
23861
25 71
164 87
14799
24752
25 04
155 27
151 45
23988
26 34
17047
16854
23340
31 77
17859
16060
23647
3424
186 67
177 51
231 14
30 39
14559
14577
22458
2778
17469
155 71
235 61
2704
187 12
162 80
r
247.01
3191
177.46
166.12
249.44
3269
3549
1 196 923 1 190 289
242 050 225 168
62537
57 121
173 553 174 205
5960
5334
39823 34286
5 202
5 627
16 968
18 910
5429
13 021
460
45 359
450
16 037
20 442
5459
14 526
457
44 519
386
15 003
20 014
5417
14229
368
44 741
434
14 647
22 107
5532
16 229
346
40 009
334
14 203
18 829
3978
14 457
394
38036
350
16 112
21 244
4532
16 252
460
36836
484
16540
22 025
5359
16142
524
34890
442
18 180
23 418
5695
17 205
518
34 130
620
15144
19842
4656
14 743
443
33 681
477
15 183
18078
4268
13356
'454
34286
451
16879
18888
5,481
12917
490
36323
111
16,593
18 501
5,493
12,351
657
38,341
144
2884
90
57
65
60
57
64
60
61
109
42
64
107
190
1,123
809
r
295.8
261.5
80.67
80.2
342.7
S-30
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
IT .,
units
1985
May 1987
1987
1986
Annual
1986
Mar.
Apr.
June
May
Aug.
July
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
24,888
34,096
Apr.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement
thous bbl
1
445 144 1 470 500
32340
41 463
43 197
44809
46872
46585
45 926
49053
35 085
30723
25,532
68337
72.8
436 7
7 1863
72.5
297 9
5437
4.9
17 3
681 7
5.5
27 o
6784
5.3
30 8
686 1
6.6
280
7000
6.9
328
668 2
7.3
28 3
6666
9.2
30 4
693 5
8.2
297
5143
6.0
23 6
4583
5.6
172
4312
qo
o.o
193
393.5
439.9
31.8
36.2
37.2
37.7
39.1
38.0
39.5
40.1
35.2
43.8
36.9
'36.1
41.4
105.3
105.1
105.8
105.8
105.1
105.0
106.2
107.7
107.7
CLAY CONSTRUCTION PRODUCTS
Shipments: $
Brick, unglazed (common and face)
Structural tile, except facing.
thous. sh. tons-
Floor and wall tile and accessories, glazed
and unglazed
.....mi. sq. ft..
Producer Price Index, brick and structural
clay tile *.
.
12/84=100..
101.4
105.3
104.7
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments
thous. $.. 1,174,380 1 259,750 284,475
Glass containers: t
Production
thous gross
273 695 288 809
25 353
Shipments, total
do
23127
272 821 286 276
Narrow-neck containers:
Food
do
2405
23 770 25662
Beverage
do
4861
60085 60460
Beer....
do
83777 88130
7222
Liquor and wine
do
25975 28,129
2 276
Wide-mouth containers:
Food and dairy products
do
4704
59935 63320
Narrow-neck and wide-mouth containers:
Medicinal and toilet.
do.... 17,322 19,033
1,510
Chemical, household, and industrial
do
149
1542
1957
Stocks, end of period
do. ,
38,843 40,061 42,152
104.8
Board products total
Lath
Veneer base. .. .
Regular gypsum board
Type X gypsum board
Predecorated
wallboard
5
Ae mobile home board
Water/moisture resistant board **
105.6
314,089
443.5
6.4
175
593.8
4.7
229
330,868
330,318
25291
25787
25 926
24,959
25919
25,939
25 409
26,129
25171
24,637
23556
23,762
25,598
25,458
22,451
21,471
17,599
21,237
23,155
21,962
22,916
21,794
25,704
25,352
2229
6173
7878
2585
2313
5884
7,742
2,582
2161
5856
8,080
2,895
2176
5899
8,333
2,870
2 590
5248
7,128
2,524
2578
4687
6,965
2,021
2,117
4,856
7,334
2,408
1644
4,361
6,663
2,112
1,679
4,267
7,034
2,125
2,298
4,048
6,903
1,965
2,220
4,174
6,477
2,133
2,787
5,433
7,251
2,600
4970
4649
5105
5152
5618
5821
7,009
5,228
4,834
5,179
5,115
5,538
1,795
1,685
1,740
1,586
1,450
1,585
1,573
1,333
1,194
1,453
1,470
1,593
157
41,248
104
42,396
102
42,202
113
40,749
79
41,080
105
40,539
161
40,937
130
41,622
104
40,061
116
40,889
205
r
42,042
150
42,544
GYPSUM AND PRODUCTS
Production:
Calcined .
Imports, crude gypsum
Sales of gypsum products:
Uncalcined . .
Calcined:. .
Industrial plasters
Building plasters, total
105.2
r
do
do
14784
17 135
9922
16 227
17 538
9559
1 135
1 542
640
1 378
1 543
659
1 363
1446
784
1 342
1445
958
1 284
1431
993
1 332
1531
1009
1 375
1625
832
1 463
1489
707
1 311
1*361
936
1 241
1,441
544
1 717
1,375
817
do
4386
3359
212
266
253
317
308
338
297
296
299
236
201
do
544
259
47
15
13
14
14
13
14
16
14
11
13
214
19431
28
432
328
11 631
5507
128
853
523
260
20411
24
475
323
12343
5*781
123
751
591
23
1 712
2
41
31
1 009
496
11
70
52
23
1 628
24
1 715
25
1 952
1
45
26
1 198
538
11
76
57
18
1 618
3
36
25
1006
441
9
52
48
20
1624
40
30
1 024
494
11
64
50
24
1 795
2
43
27
1 098
500
10
64
52
18
1592
40
28
960
481
10
60
48
25
1757
' 2
41
26
1 060
499
10
68
51
36
21
985
445
10
44
49
35
24
988
458
9
57
50
351
535
188
347
514
177
337
531
192
339
559
205
354
516
182
334
3
532
3
196
3
336
554
208
347
529
190
339
707
270
437
550
209
342
538
190
348
551
202
349
527
207
320
492
176
316
472
184
288
504
211
293
442
164
278
147
624
2408
5,291
683
7,495
9,792
529
8,590
9,785
3
576
546
562
731
15 366
15366
5286
9519
561
14639
14639
3913
10148
578
13416
13416
2540
10252
624
12 409
12409
1827
9942
- 640
11153
11153
1392
9033
728
9553
9553
931
7,894
728
mil sq ft
do
do
do
do
do
do
do...
24
1 697
2
39
28
1 037
472
10
63
46
25
1 880
2
43
31
1 135
530
11
76
53
TEXTILE PRODUCTS
FABRIC
Woven fabric, finishing plants:
Production (finished fabric)
mil linear yd
Cotton
do
Manmade fiber and silk fabrics
do
Inventories held at end of period
do
Cotton
do
Backlog of finishing orders
Cotton
Manmade fiber and silk fabrics
See footnotes at end of tables.
3
661
3
241
3
9438
9,785
6566
492
3
13 416
13 416
2540
10252
624
11 478
11 477
1*890
9624
*764
6796
2 522
4271
504
211
293
12988
13,432
'5268
13683
13682
2374
10696
612
do
do
do
COTTON AND MANUFACTURES
Cotton (excluding Imters):
Production:
Ginnings §....
thous. running bales .
Crop estimate
thous. net weight bales §.,
Consumption
thous running bales
Stocks in the United States, total, end of
Domestic cotton total
On farms and in transit
Public storage and compresses
Consuming establishments
539
201
338
510
186
324
520
190
330
6788
2499
4287
535
193
342
do
do
do
do
419
505
185
320
539
188
351
538
201
336
508
184
324
525
187
338
536
201
335
507
179
328
495
156
340
3
538
3
186
3
3
620
503
489
10725
10724
902
9035
787
10162
10 161
737
8645
779
9 528
9527
787
7931
809
522
9045
9044
150
8124
770
534
523
18 113 16704
18 112 16703
1 049 8 119
7393
7996
588
670
3
•
108.1
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
S-31
SURVEY OF CURRENT BUSINESS
May 1987
,,..
1987
1986
Annual
vntts
1985
1986
Apr.
Mar.
July
June
May
Aug.
Sept.
Nov.
Oct.
Jan.
Dec.
Feb.
Apr.
Mar.
TEXTILE PRODUCTS—Continued
COTTON AND MANUFACTURES-Cont.
Cotton (excluding linters)—Continued
Exports
thous running bales
Imports...
... thous net-weight bales §
PriceCfarm), American upland Q
cents per Ib ..
Price, Strict Low Middling, Grade 41, staple 34
(IVie"), average 10 markets
cents per Ib..
Spindle activity (cotton system spindles):
Active spindles, last working.
Consuming 100 percent cotton
do
Spindle hours operated, all
fibers, total
bil.
Average per working day
do
Consuming 100 percent cotton
do
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly ).
mil sq yd
Orders, unfilled, end of period, compared
with average 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 equivalent
thous. net-weight bales §
Imports, raw cotton equivalent . .
do
Producer Price Index, gray cotton
broadwovens
..12/75=100 ..
5666
7
51.0
176
(i)
58.1
163
(i)
59.2
76
(i)
58.5
55
(i)
58,5
21
(i)
61.5
261
(i)
46.8
346
(i)
47.8
314
(i)
47.1
529
(i)
53.6
3 149
(i)
54.7
429
1
51.0
499
595
47.7
50.0
60.5
60.0
61.8
62.6
64.0
65.2
65.7
26.8
33.6
44.0
45.7
54.2
57.2
54.8
54.6
12 5
47
11 8
46
12 2
44
12 3
45
12 3
45
11 8
45
11 9
45
11 8
45
11 9
46
11 9
45
11 8
46
11 8
46
11 9
4.7
11 9
4.7
119
4.8
61
307
21
4
6.4
321
24
r
8.8
350
3.2
4756
46
56.8
3
755
290
274
815
309
292
62
312
21
3921
3885
1045
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
Slacks, jeans, dungarees, and
jean-cut casual slacks *
do
Blouses
.
thous dozen
See footnotes at end of tables.
78
311
27
4
64
319
22
67
269
24
4
63
314
23
11 1
122
123
129
45
35
0 O
31
28
64
320
23
6.4
319
24
7.0
279
26
31
27
25
22
2880
13061
236
1289
235
116 6
274
1065
236
1048
173
1271
301
1096
262
1002
155.6
154.5
153.8
153.6
154.1
154.1
154.5
154.1
154.6
261
988
154.3
282
962
155.0
244
919
154.4
547
997
54 1
1034
517
1055
9650
9727
9237
9795
9433
1 0009
9917
1 0384
133
197
125
205
140
215
14.8
22.4
317 1
3323
3053
3305
2974
3085
3068
3264
147 2
1479
147 2
147 4
147 5
1459
144 1
145 1
1450
1451
41 67
2012
1072
4591
2230
1091
4601
19 18
10 54
40 12
1794
10 85
41 41
1866
1332
4149
1807
11 47
43 16
18 16
1204
4384
1944
1142
4812
2171
13 14
3919
1696
1069
21 55
13247
2807
1965
2361
12518
2747
1869
2683
14702
2913
2031
22 18
15971
3094
21 43
2275
17965
3296
2214
2337
16282
2663
1772
2500
13595
20.15
1342
2441
135 27
1951
1327
2641
134.26
22.49
1388
2223
98.98
17.50
11 50
10441
6774
2692
9771
61 64
2805
11789
7662
3832
128 77
8851
4572
146 70
106 13
56 12
136 19
9980
5241
115 80
7988
4077
115 76
7770
3982
111 78
6794
2775
8148
5045
17 50
127
4
9
75
28
102
9
80
22
108
6
86
24
r
r
r4
ll 1
4
r
1.88
2.38
1.98
2.52
1.98
2.42
1357
10.5
970
309
100
8
76
20
1.92
2.29
1.91
2.36
1.80
2.31
1383
1313
377
8959
131 924
626
13,776
r4
r4
ll 3
T4 g
70
28
1.93
94
10
63
30
1.90
2.30
94
r
9
70
28
1.90
2.24
693
14085
619
10,545
903
9,966
870
8,420
973
9061
1 131
9487
155.6
155.2
155.9
1442
1457
1463
1484
2.16
2.88
2.60
3.25
93
r
.l
92
33
101
r
.5
108
33
11 1
.7
86
15
122
.8
82
16
1.90
2.30
1.90
2.40
1.90
2.50
1.93
2.52
2.02
2.59
274
273
388
156.6
10
50
18
1 1592
10540
152,060
10,986
93577
6.8
342
25
57.7
963
543
95 1
1061
10.6
79 5
293
r
50.8
1
2205
10249
47
8.1
325
3i
936
942
96
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly:
Acetate filament yarn
mil Ib
2148
2046
Rayon staple, including tow .
do
4037
3527
Noncellulosic, except textile glass:
Yarn and monofilaments
do
37902 38237
37733 3991 5
Staple incl tow
'
do
Textile glass fiber ...
do
Fiber stocks, producers', end of period:
Acetate filament yarn
mil. Ib.
148
123
Rayon staple, including tow
...do....
224
225
Noncellulosic fiber, except textile glass:
Yarn and monofilaments...
.
do
3068
2925
Staple, incl. tow
do
3118
3264
Textile glass
fiber
do
Manmade fiber and silk broadwoven fabrics:
Production(qtrly.), total #
mil. sq. yd.. 10,796.6
Filament yarn (100%) fabrics #
do.... 4,754.9
Chiefly rayon and/or acetate
fabrics
'.
. do ...
Chiefly nylon fabrics
do...
3718
Spun yarn (100%) fabrics #
do... 4,903 1
Rayon and/or acetate fab-rics, blends
do
365
Polyester blends with cotton
do.... 3,844.0
Acetate filament and spun )
yarn fabrics
do....
866.6
Producer Price Index, gray synthetic
broadwovens
12/75—100
147 2
1463
Manmade fiber textile trade:
Exports, manmade fiber equivalent
mil. Ibs.
449 16 50679
Yarn, tops, thread, cloth
do ...
20629 226 86
Cloth woven
do
12487 13457
Manufactured prods., apparel,
furnishings
do
24386 27922
Imports, manmade fiber equivalent
do.... 1,491.03 1 683 66
Yarn, tops, thread, cloth
do.... 268.06 302.12
Cloth, woven
do
18620 20484
Manufactured products, apparel,
furnishings
do
1 222 97 1 381 54
Apparel total
do
79990 921 16
Knit apparel
'
...
do
341 17 42832
WOOL AND MANUFACTURES
Wool consumption, mill (clean basis):
Apparel class
mil Ib.
Carpet class
.do...
Wool imports clean yield
.
do
Duty-free..
do ..
Wool prices, raw, shorn, clean basis, delivered
to U.S. mills:
Domestic—Graded territory, 64's, staple 2%"
and up
dollars per Ib..
Australian, 64's, Type 62, duty-paid
do....
Wool broadwoven goods, exc. felts:
Production (qtrly.)
mil. sq. yd..
4
P
1 135
10099
649
9240
396
9787
89769
9 120
8574
7484
7524
7 172
7 112
7332
6 904
5676
5507
242 442 219716
31234 29575
17 976
2425
18540
2504
19933
2,232
19333
2549
17246
2520
17078
2432
18449
2804
18 513
2623
15 599
2177
16 592
2159
S-32
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
SURVEY OF CURRENT BUSINESS
Annual
IT .,
units
1985
May 1987
1987
1986
1986
Mar.
Apr.
June
May
July
Sept.
Aug.
Nov.
Oct.
Dec.
Jan.
Feb.
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, shipments
thous. doz. pairs..
12 403
19794
116 413
186 355
40363
308,660
10552
19794
112612
180 811
48 028
888
1 503
10338
12*599
4 072
25,537
1 002
1 662
10551
12917
4*421
28,452
987
1 485
9 138
13758
4 019
23,734
822
1 620
8 165
16492
3 759
25,127
598
1 445
7*707
796
1768
9231
16 125
3 538
14039
27,870
25,029
3 993
988
858
800
9836
15*512
4*374
23,817
2082
9883
16*168
4867
30318
1 715
8910
8499
14586
3925
29,989
24,190
24,438
24,723
28,120
870
1 990
1 458
16621
3415
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders, new (net), qtrly, total
U.S. Government
Prime contract
Sales (net), receipts, or billings, quarterly,
total.
U.S. Government
mil. $.. 3 110,450
3
...do..
69 722
do.... 3 107,915
do
do ....
3
100,144
63,515
142,813
3
91,833
3
62,553
3
13,638
3
3
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,
3
18,192
propulsion units, and parts
mil $
Other related operations (conversions, modi3
19 091
fications) products services
mil $
Aircraft (complete);
10,939.9 12,993.8
Shipments t
do
Airframe weight t
thous Ib
40,872
(4)
Exports commercial
~
mil $
6,252
7,207
MOTOR VEHICLES (NEW)
Passenger cars:
Factory sales (from U.S. plants):
Total....
thous..
Domestic
.....do....
Retail sales total not seas adj
do
Domestics §
do
Imports § .. .
do
Total, seas. adj. at annual rate
mil
Domestics §
do...
Imports §
do....
Retail inventories, domestics, end of period: §
Not seasonally adjusted
..thous..
Seasonally adjusted
do....
Inventory-retail sales ratio, domestics §
Exports (BuCensus) total
do
To Canada
..
do
Imports (ITC) complete units
do
From Canada, total
.
.do
Registrations Q, total new vehicles...
do....
Imports, including domestically
sponsored
do
Trucks and buses:
Factory sales (from U.S. plants):
Total
do
Domestic
do
Retail sales, domestics: *
Total, not seasonally adjusted
':.
do....
0-10,000 Ibs. GVW
do....
10,001 Ibs. GVW and over
do....
Total, seasonally adjusted
do
0-10,000 Ibs. GVW
do
10,001 Ibs. GVW and over
do...
Retail inventories, including captive imports,
end of period:
Not seasonally adjusted
do...
Seasonally adjusted @
do
Exports (BuCensus)
do....
Imports (BuCensus), including separate
1,337.2
925.5
1,138.7
1,063.0
1,134.2
796.0
1,239.7
1,148.8
1,641.7
575.0
'830.7
1,414.0
921
531
443
718
720
578
493
882
476
668
309
643
884
655
590
897
649
248
9.8
7.0
2.8
713
647
972
720
252
11.2
8.0
3.2
685
615
1,072
786
286
11.4
8.2
3.1
706
630
1,001
736
2.9
505
466
954
649
305
10.7
7.4
3.3
426
401
952
673
279
12.7
9.4
3.4
637
581
1,217
925
292
16.1
12.3
3.8
684
627
906
633
273
10.3
7.0
3.3
556
509
783
521
262
10.5
7.0
3.5
561
522
992
673
319
13.6
9.6
4.0
617
585
626
428
198
8.2
5.8
2.4
691
634
781
558
223
9.9
7.3
2.6
741
675
936
683
252
10.1
7.3
2.8
1,907
1,796
3.1
69.63
66.50
381.0
104.2
848
1,945
1,809
2.7
73.01
70.22
380.9
117.8
906
1,867
1,755
2.6
58.90
56.99
410.4
110.4
918
1,860
5
1,733
5
2.5
80.32
77.72
460.8
113.7
1,012
1,726
1,696
2.7
39.18
36.68
435.7
52.2
934
1,557
1,548
2.0
20.62
18.97
328.9
60.0
894
1,293
1,178
1.1
59.52
59.01
322.5
97.5
1,149
1,413
1,294
2.2
50.50
45.95
393.1
104.4
948
1,537
1,376
2.3
54.20
49.95
466.1
120.7
719
1,499
1,297
1.6
42.81
40.26
365.2
96.0
902
1,726
1,500
3.1
32.43
28.28
322.9
75.9
800
1,861
1,612
2.7
60.12
55.57
379.3
97.7
671
1,936
1,705
2.8
57.33
52.36
3,444
259
266
260
272
284
298
317
301
263
324
293
214
262
3,357
3,393
3,126
3,130
281
258
308
281
298
272
299
273
251
234
264
247
318
295
306
279
246
224
250
230
299
277
314
290
351
323
318.2
295.0
23.1
278.8
256.4
22.3
340.3
377.2
328.0
304.0
430.9
407.9
296.5
260.8
347.8
238.9
354.1
23.2
334.8
312.8
22.1
359.1
333.9
25.3
330.1
306.6
23.5
320.8
315.0
25.3
314.4
291.5
22.8
271.9
24.7
295.8
272.8
23.0
241.5
19.3
287.8
263.6
24.2
322.1
25.7
341.3
316.7
24.7
219.2
19.7
6
266.6
6
244.8
«21.8
304.7
284.3
369.8
343.7
366.8
338.5
304.8
329.8
304.7
976.5
943.9
1,006.3
969.5
20.68
991.1
963.6
30.05
984.0
964.8
20.23
935.9
1,017.8
923.3
976.5
881.6
839.4
16.66
13.62
7.18
134.15
130.22
117.66
131.18
138.47
124.20
370
401
407
434
405
397
483
14,590
10,438
14,784
10,247
15,425
10,998
14,970
10,917
14,253
10,492
14,600
10,966
15,452
11,753
7,516
8,002
7,337
11,039
8,205
2,834
1,630
1,603
2.3
701.16
677.19
4,394.9
1,146.3
1
10,889
1
6,869
11,450
8,215
3,235
1,499
1,297
1.9
669.46
639.67
4,691.3
1,162.2
11,140
1
3,011
3,913.2
3,618.3
294.8
827.6
850.4
185.27
1
3,947.2
3,671.3
1
275.8
839.4
861.5
209.06
1,308.94 1,394.80
Registrations Q, new vehicles, excluding buses
1
1
not produced on truck chassis
....thous ..
4,801
4,675
Truck trailers and chassis, complete (excludes
detachables), shipments tt
number .. 179,808 169,269
Van type tt
do.... 126,668 122,045
Trailer bodies (detachable), sold
r
252
417
separately tt
do
Trailer chassis (detachable), sold
r
28,876 15,046
separately tt
do
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,..
Freight cars (revenue), class I railroads(AAR): $
Number owned, end of period
thous
Capacity (carrying), total, end of month
mil. tons
Average per car
tons
See footnotes at end of tables.
12,080
11,674
1
9,510
1
9,510
1,759
1,759
11,508
11,508
12,426
12,426
2,677
2,677
'66
1,052
574
574
1,252
1,252
3,375
3,375
'32
1,150
607
607
1,850
1,850
4,618
4,618
265
5
5
8'.2
5
24.0
316.6
294.8
21.9
'49
'68
'48
1,039
1,341
1,237
827
827
955
955
4,746
4,746
999
999
485
485
4,232
4,232
1,247
1,247
797
797
3,782
3,782
994.1
299.1
21.6
394.3
371.4
22.9
'26
1,196
1,161
1,161
1081
1,081
3,702
3,702
23.1
451.2
428.7
22.5
840.8
874.9
23.28
893.2
905.2
884.3
19.44
15.47
80.18
94.75
115.73
78.78
415
320
396
14,526
10,574
12 154
'8,757
13,927
'9,767
'23
1,212
1,134
1,134
1,096
1,096
3,664
3,664
'23
12
1454
1,281
1,132
1,132
723
723
3,255
3,255
886
886
668
668
3,037
3,037
861.5
11.48
12
1,437
20.4
329.5
305.3
26.0
330.1
25.3
24.3
(*)
28.2
25.2
942.5
917.2
1,026.7
1,030.8
956.6
16.08
991.7
16.91
991.7
17.97
94.97
115.75
132.39
356
326
410
12,514
14,204
'9,997
16,214
11,149
6
9,111
996.1
39
'26
20
527
'803
625
7
1,954
1,954
1,594
1,594
2,677
2,677
2,687
2,687
3,860
3,860
7
3,850
7
3,850
7
7
7
867
799
850
842
836
829
825
822
817
811
808
799
795
792
781
67.20
70.98
83.49
70.41
83.62
69.92
83.68
69.44
83.74
68.97
83.56
6871
68.36
83.72
68.04
83.94
67.90
84.03
67.20
66.96
84.14
84.18
66.69
84.25
65.89
84.35
83.60
1,904
1,656
2.6
93.3
829
72.17
83.23
84 14
'938
694
'244
10.5
7.5
e
3.0
May 1987
SURVEY OF CURRENT BUSINESS
S-33
FOOTNOTES FOR PAGES S-l THROUGH S-32
General Notes for all Pages:
r
p
e
c
Revised,
Preliminary,
Estimated,
Corrected.
Page S-l
Page S-7
t Revised series. The estimates of personal income have been revised as a part of the
annual revision of the national income and product accounts (NIPA's) released in July 1986
and as part of the comprehensive revision of the NIPA's released in 1985. Articles describing those revisions appear in the July 1986 and December 1985 issues of the SURVEY. See
tables 2.6-2.9 in the July 1986 SURVEY for revised estimates for 1983-85. Pre-1983 estimates appear in The National Income and Product Accounts of the United States, 1929-82:
Statistical Tables. For order information see the box at the beginning of the National Income
and Product Accounts Tables in this issue of the SURVEY.
$ Includes inventory valuation and capital consumption adjustments.
§ 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.
O See note "O" for p. S-2.
1. Computed from cumulative valuation total.
2. Index as of May 1, 1987: building, 373.4; construction, 406.5.
# Includes data for items not shown separately.
§ Data for May, July, and, Oct. 1986 are for five weeks; other months four weeks.
O Effective Feb. 1987 SURVEY, data for seasonally adjusted housing starts have been
revised back to 1984. Effective Feb. 1986 SURVEY, data for seasonally adjusted housing
starts have been revised back to 1983. These revisions are available upon request.
t Effective May 1987 SURVEY, data for seasonally adjusted building permits have been
revised back to Jan. 1985. Effective May 1986 SURVEY, data for seasonally adjusted building permits have been revised back to Jan. 1984. These revisions are available upon request.
@ Effective July 1986 SURVEY, data have been revised. In addition to the normal revisions, a number of important changes have been made, including the elimination of the
"Nonhousekeeping" residential category, which has been replaced for the most part by a
new "Hotels and Motels" category in nonresidential buildings; the inclusion of residential
major replacements in "Additions and Alterations," which is renamed "Improvements;"
and significant historical revisions to estimates for one-unit residential buildings, railroads,
electric, gas, and Federal industrial buildings. Due to these changes, much of the data have
been revised back to 1964 and are available from the Construction Statistics Division at the
Bureau of the Census, Washington, D.C. 20233.
$ Effective July 1986 SURVEY, this index has been revised to a new comparison base of
1982= 100. Revisions back to 1964 are available upon request.
Page S-2
1. Based on data not seasonally adjusted.
O Effective with Sept. 1986 SURVEY, the industrial production index has been revised
back to Jan. 1984. These revisions are available upon request.
# Includes data not shown separately.
.$' Effective. April 1987 SURVEY, data have been revised, in some cases, back to January
1982. Revised data appear in the report "Manufacturing and Trade Inventories and Sales"
CB-87-69 available from the Bureau of the Census.
§ Revised series. Data for inventories are available from 1959; sales and ratios 1967
forward. Revisions are available upon request.
Page S-3
# Includes data for items not shown separately.
$ See note "$" for p, S-2.
§ See note "§" for p. S-2.
t.Revised series. Data have been revised back to 1982. A detailed description of the
changes appear in the report "Manufacturers' Shipments, Inventories, and Orders: 1982-86"
M3-1 (86), available from the Bureau of the Census, Washington, DC 20233.
Page S-4
1. Based on data not seasonally adjusted.
# 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.
O 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.
t See note "t" for p. S-3.
PageS-5
1. Based on unadjusted data.
2. Effective with the Mar. 1986 SURVEY, the reporting frequency has been changed
from monthly to 3-morith intervals.
@ Compiled by Dun & Bradstreet, Inc. Monthly data from 1984 to 1985 for failures and
liabilities, are available upon request, but are hot comparable to the earlier years. The
failure annual rate data will be available at a later date.
# Includes data for items not shown separately.
§ Ratio of prices received to prices paid (parity index).
$ See note "$" for p. S-4.
t Effective with the July 1986 SURVEY, data (back to 1983, for some commodities) have
been revised. Effective with the Feb. 1987 SURVEY, data (back to 1984, for some commodities) have been revised. These revisions are available upon request.
O See note "t" for p. S-6.
tt See note "t"'for p. S-3.
PageS-8
1. Advance estimate.
# New series effective Sept. 1985 SURVEY. All activity reported on a gross basis (i.e., the
entire amount of loan) including refinancings and combination construction—purchase
loans. Revised data are now available back to Jan. 1984. Earlier data will be available later.
O Home mortgage rates (conventional first mortgages) are under money and interest
rates on p. S-l4.
§ Data include guaranteed direct loans sold.
t Effective April 1987 SURVEY, wholesale trade data have been revised back to Jan.
1980. Revised data and a summary of changes appear in the report Revised Monthly Wholesale
Trade Sales and Inventories BW-13-86S, available from the Bureau of the Census, Washington, D.C. 20233; $! .25 per copy.
$ Effective May 1987 SURVEY, retail trade data have been revised. Estimates of retail
sales have been revised back to Jan. 1977 and estimates of retail inventories have been
revised back to Jan. 1980. Revised data and a summary of changes appear in the report
Revised Monthly Retail Sales and Inventories BR-13-86S, available from the Bureau of
the Census, Washington, D.C. 20233; $4.50 per copy.
# Includes data for items not shown separately.
@ Series revised effective April 1987 SURVEY. Data now include mutual savings banks.
PageS-9
1. Advance estimate.
2. Data beginning Jan. 1986 are not strictly comparable with earlier data because of a
change in estimation procedures.
$ See note "$" for p. S-8.
# Includes data for items not shown separately.
O Effective with the January 1987 SURVEY, the seasonally adjusted labor force series
have been revised back to January 1982. The January 1987 issue of Employment and Earnings contains the new seasonal adjustment factors, a description of the current methodology, and
revised data for the most recent 13 months or calendar quarters. Revised monthly data for
the entire 1982-86 revision period will appear in the February 1987 issue of Employment
and Earnings.
t The participation rate is the percent of the civilian noninstitutional population in the
civilian labor force. The employment-population ratio is civilian employment as a percent
of the civilian noninstitutional population, 16 years and over.
@ Data include resident armed forces.
Page S-6
PageS-10
§ For producer price indexes of individual commodities, see respective commodities in
the Industry section beginning p. S-19. All indexes subject to revision four months after
original publication.
# Includes data for items not shown separately.
t Beginning with January 1987 data, the consumer price indexes are being calculated on
a revised basis, using 1982-84 expenditure patterns and updated population weights. Additional
information regarding the revised basis is available from the Bureau of Labor Statistics,
Washington, DC 20212. Seasonally adjusted data have been revised as follows: back to
1981, effective with the Feb. 1986 SURVEY and back to 1982, effective with the Mar. 1987
SURVEY. These revisions are available upon request.
$ Effective with the Feb. 1986 SURVEY, data back to 1981 have been revised. Effective
with the Feb. 1987 SURVEY, data back to 1982 have been revised. These revisions are
available upon request.
O See note "O" for p. S-9.
§ Effective June 1986 SURVEY, data have been revised back to April 1984 (not seasonally adjusted) and January 1981 (seasonally adjusted) to reflect new benchmarks and seasonal adjustment factors. The June 1986 issue of Employment and Earnings will contain a
detailed discussion of the effects of the revisions.
PageS-11
t 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.
O Production and nonsupervisory workers.
§ See note"§" for p. S-10.
S-34
SURVEY OF CURRENT BUSINESS
PageS-12
1. 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. Use the corresponding unadjusted series.
§ See note"§" for p. S-10.
O Production and nonsupervisory workers.
$ Earnings in 1977 dollars reflect changes in purchasing power since 1977 by dividing by
Consumer Price Index.
§§ Wages as of May 1, 1987: Common, $ 16.72; Skilled, $21.94.
@ New series. The Employment Cost Index (ECI) is a quarterly measure of the average
change in the cost of employing labor. See p. S-36 of the August through October 1984
issues of the SURVEY for a brief description of the ECI.
t Excludes farm, household, and Federal workers.
$$ See note "$" for p. S-l 1.
Page S-13
1. Average for Dec.
2. Reported annual; monthly revisions are not available.
$ Effective January 1984, series revised due to changes in the reporting panel and in the
item contents. The new panel includes 168 banks that had domestic office assets exceeding
$1.4 billion as of December 31, 1982. Beginning Jan. 1985, data are as of the last Wednesday of the month. Earlier data are as of the Wednesday nearest the end of the month or year
(meaning some data are as of the first Wednesday of the next month).
* Includes data for items not shown separately.
tt Reflects offsetting changes in classification of deposits of thrift institutions. Deposits of thrifts were formerly grouped with deposits of individuals, partnerships, and corporations, instead of with deposits of commercial banks in the United States.
* "Transaction balances other than demand deposits" consists of ATS, NOW, super
NOW, and telephone transfer accounts, which formerly were classified with savings deposits. "Nontransaction balances" reflects the combination of deposits formerly reported separately as time deposits and the savings deposits remaining after deduction of the items now
reported separately under "transaction balances."
§ Excludes loans and federal funds transactions with domestic commercial banks and
includes valuation reserves (individual loan items are shown gross; i.e., before deduction of
valuation reserves).
O Securities of Federal agencies and corporations have been shifted out of "other securities" and are now combined with U.S. Treasury securities. Also, loan obligations of States
and political subdivisions have been shifted out of "other securities" and are now shown
separately among the loan items.
@ 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.
t Beginning with October 1984 data, the number of respondents in the bankers acceptance survey was reduced from 340 to 160 institutions, those with $50 million or more in total
acceptances. The new reporting group accounts for over 95 percent of total acceptances
activity. Historical data are available upon request.
PageS-14
1. Data are for fiscal years ending Sept. 30 and include revisions not distributed to the
months.
2. Weighted by number of loans.
t Effective with Mar. 1987 SURVEY, the consumer installment credit series have been
revised for the period 1980 through 1986 to reflect updated seasonal adjustment factors and
newly available, historical information for depository institutions, finance companies, and
retailers. Effective with Apr. 1986 SURVEY, the consumer installment credit series have
been revised for the period 1975 through 1985.
* New series. Effective with Apr. 1986 SURVEY, data for savings institutions (includes
savings and loan associations, mutual savings banks, and federal savings banks) are shown
for the first time.
#. Includes data for items not shown separately.
O Adjusted to exclude domestic commercial interbank loans and federal funds sold to
domestic commercial banks.
t Rates on the commercial paper placed for firms whose bond rating is Aa or the equivalent.
$$ Courtesy of Metals Week.
@@ Average effective rate
§ Effective May 1987 SURVEY, data have been revised back to Dec. 1972 and are available from the Banking Section, Division of Research and Statistics, Board of Governors of
the Federal Reserve System, Washington, D.C. 20551.
(a) Revised for periods between October 1986 and February 1987. During this interval,
outstanding gold certificates were inadvertently in excess of the gold stock.
PageS-15
t Effective Feb. 1987 SURVEY, the money stock measures and components have been
revised and are available from the Banking Section of the Division of Research and Statistics at the Federal Reserve Board, Washington, D.C. 20551.
t Composition of the money stock measures is as follows:
Ml.—This measure is currency plus demand deposits at commercial banks and interestearning checkable deposits at all depository 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.
May 1987
M2.—This measure adds to Ml 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 depository institutions. Depository 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 depository 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 depository institutions, credit union share
draft balances, and demand deposits at thrift institutions.
O 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.
§ Number of issues represents number currently used; the change in number does not
affect the continuity of the series.
PageS-16
1. The Aaa public utility average was suspended Jan. 17, 1984, because of a lack of
appropriate issues. The average corporate and the Aaa corporate do not include Aaa utilities from Jan. 17 to Oct. 12. The Aaa utility average was reinstated on Oct. 12; the Oct.
monthly average includes only the last 14 days of the month.
2. Effective with Jan. 1986 data, the practice of adjusting exports and imports for seasonal and working-day variations was discontinued.
§ 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.
t Effective April 22, 1987, "New York City banks" are classified as "money center
banks," and "outside N.Y.C. banks" are classified as "major regional banks." Two banks
formerly in "outside N.Y.C. banks" were transferred to "money center banks." In addition
three substitutions were made in "major regional banks."
# New series. See note on p. S-36 of this issue of the SURVEY. Historical data are available upon request.
PageS-17
1. See note 2 for p. S-l6.
# 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.
PageS-18
1. Annual total; quarterly or monthly revisions are not available.
2. Restaurant sales index data represent hotels and motor hotels only.
3. For month shown.
# Includes data for items not shown separately.
§ Total revenues, expenses, and income for all groups of carriers also reflect nonscheduled service.
t The threshold for Class I railroad status is adjusted annually by the Interstate Commerce Commission to compensate for inflation.
O Average daily rent per room occupied, not scheduled rates.
## Data represent entries to a national park for recreational use of the park, its services,
conveniences, and/or facilities.
t Before extraordinary and prior period items.
PageS-19
1. Reported annual total; monthly revisions are not available.
2. For month shown.
3. Less than 500 short tons.
# Includes data for items not shown separately.
§ Data are reported on the basis of 100 percent content of the specified material unless
otherwise indicated.
# New series. Access lines are a communication circuit that connects a customer location to a switching center.
@ Because of deregulation, carriers are free to enter both domestic and international
markets. Previously, carriers were limited either to domestic or overseas markets. Separate
data for domestic or overseas are no longer available.
t Data for 1984 (and for some commodities, 1985 and 1983) have been revised and are
available upon request.
t Effective with 1985, data are reported on the basis of 100 percent content of ethyl
acetate material.
O Beginning January, 1986, data are not directly comparable to earlier periods because
the data represent only companies that have annual revenues over $100 million.
S-35
SURVEY OF CURRENT BUSINESS
May 1987
Page S-20
PageS-26
1. Reported annual total; monthly or quarterly revisions are not available.
§ Data are not wholly comparable from year to year because of changes from one classification to another.
O Data for 1982-85 have been revised and are available upon request,
t Data for 1983-85 have been revised and are available upon request.
* Effective with the Sept. 1985 SURVEY, monthly data have been restated back to Jan.
1984 to include consumption for Hawaii. Prior to 1984, consumption for Hawaii is reflected
in annual totals only.
t Revised data for 1983-85 (and 1981, for revenue from sales to ultimate customers) are
available upon request.
* New series, first shown in the January 1987 SURVEY. Data (formerly included with the
"industrial" class) are reported separately, beginning with 1st Qtr. 1985.
@ Includes less than 500 electric generation customers not shown separately.
.1. Annual data; monthly revisions are not available.
2. Less than 50 tons.
3. Beginning 1st quarter 1984, data have been revised because of a new sample and may
not be comparable to earlier periods.
4. Total for 8 months; no data for March, April, September, and October.
5. Total for 10 months; no data for November and December.
6. Beginning July 1986, data are not comparable with earlier periods.
7. Total for 5 months; data for May, June, Sept., Nov., and Dec.
8. Total for 10 months; no data for Jan. and Feb.
O 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.
§ Beginning with the Aug. 1985 SURVEY, unadjusted fluid power shipments indexes are
shown. Seasonally adjusted indexes are no longer available.
# New series. For an explanation of material handling equipment shipments and historical data, see p. S-35 of the Dec. 1985 SURVEY.
PageS-21
1. Previous year's crop. Through 1985, new crop is not reported until Oct. (crop year:
Oct. 1-Sept, 30). Beginning 1986, new crop is reported beginning Sept. (crop year: Sept.
1-Aug. 31).
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). Beginning with 1986, quarterly stock estimates for barley and oats are no longer available. However, June 1 stocks will continue to be available and
published here in the May and Annual columns each year.
5. Less than 50,000 bushels.
6. See note "@" for this page.
7. Stocks as of Dec. 1.
8. Based on a 10-month average.
9. Prices are no longer available.
10. Effective with 1986 reporting, coverage has been reduced to 21 selected States,
representing approximately 85 percent of U.S. production. Comparable data for 1985 are
available upon request.
11. May 1 estimate of 1987 crop.
§ Excludes pearl barley.
* Bags of lOOlbs.
@ Effective with the Mar. 1987 SURVEY, data have been restated to reflect a change in
reporting periods. The quarterly data, available back through 1976, now represent the 3-month
periods Dec.-Feb., Mar.-May, June-Aug., and Sept.-Nov. The annual data, also available
back through 1976, now represent Dec.-Nov.
Page S-22
1. Figure covers 20 selected States, representing approximately 84 percent of U.S.
production.
§ Cases of 30 dozen.
O Bags of 60 kilograms.
* \This series, first shown in the January 1987 SURVEY, is from the Bureau of Labor
Statistics International Price Program and provides a measure of price change for coffee
purchased from other countries by U.S. residents. Prices are based on the cost, insurance,
and freight (c.i.f.) value at the U.S. port of importation; they include the other costs associated
with bringing the product to the U.S. border, but do not include duty charges. To the extent
possible, the data gathered refer to transactions completed during the first 2 weeks of the
third month of each calendar quarter—March, June, September, and December. Annual
data back to 1978 and quarterly data back to 2d Qtr. 1977 are available upon request.
Page S-23
1. Crop estimate for the year.
2. Reported annual total; revisions not distributed to the months.
* Totals include data for items not shown separately.
O Effective Sept. 1985 SURVEY, the footwear production series have been revised for
1983 and 1984.
Page S-24
1. Arihual data; monthly revisions not available.
2. Less than 500 tons.
3. Beginning January 1985, data have been revised because of a new estimation procedure and may not be comparable to earlier periods.
4. See notes 1 and 3 for this page.
* New series. Historical data are available upon request.
Page S-25
1. Annual data; monthly revisions are not available.
2. For month shown.
t Beginning January 1982, data represent metallic (mostly aluminum) content. Data for
1981 and prior years represent aluminum content only.
O The source for these series is now the Bureau of Mines.
§ Source: Metals Week.
* New series. Refined copper is recovered from leach solution by electrolysis.
Page S-27
1. Data are for five weeks; other months 4 weeks.
2. Beginning January 1986, data have been restated because a new methodology has
been adopted.
# Includes data for items not shown separately.
§ Includes nonmarketable catalyst coke.
O Includes small amounts of "other hydrocarbons and alcohol new supply (field production)," not shown separately.
t Effective with the Oct. 1985 SURVEY, coal production data for 1984 have been revised.
Effective with the July 1986 SURVEY, coal consumption and stocks for 1985 have been
revised. Effective with the Oct. 1986 SURVEY, coal production data for 1985 have been
revised. Effective with the April 1987 SURVEY, coal consumption and stocks back through
1985 have been revised. These revisions are available upon request.
(a) I n c l u d e s U.S. produced and imported microwave ovens and combination
microwave oven/ranges.
$ "Tractor shovel loaders" includes some front engine mount wheel tractors that had
previously been included in "Tractors, wheel, farm, and nonfarm."
@@ Effective with the July 1986 SURVEY, data for 1985 have been revised and are
available upon request.
Page S-28
1. Reported annual totals; revisions not allocated to the months.
2. Effective with the Jan. 1985 price, gasoline that contains alcohol as an additive is
included.
# Includes data for items not shown separately.
t Except for price data, see note "@@" for p. S-27.
$ Effective with June 1985, indexes reflect price movements through the middle of the
month for which they are shown. Indexes prior to June 1985 were based on prices for the
previous month; reflecting a one-month lag in pricing.
Page S-29
1. See note 1 for p. S-28.
O Source: American Paper Institute. Total U.S. estimated consumption by all newspaper users.
# Compiled by the American Newspaper Publishers Association.
# New series. This index is from the Bureau of Labor Statistics International Price Program
and provides a measure of price change for natural rubber purchased from other countries
by U.S. residents. The data gathered refer to prices that are "free on board".(f.o.b.) foreign
port. The prices refer to transactions completed during the first 2 weeks of the third month
of each calendar quarter—March, June, September, and December. Data back to December 1983 are available upon request.
Page S-30
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. Beginning with 1985, value of shipments for rolled and wire glass is excluded. Comparable data for 1984 and earlier periods, which exclude such shipments, are not available.
# Includes data for items not shown separately.
O Cumulative ginnings to the end of month indicated.1
§ Bales of 480 Ibs.
t Monthly revisions for 1984-85 are available upon request.
t Monthly revisions for 1985 are available upon request.
# New series, first shown in the Oct. 1986 SURVEY. Monthly indexes are available back
to Dec. 1984.
** New series, first shown in the January 1987 SURVEY. Monthly data are available
back to Jan. 1985.
SURVEY OF CURRENT BUSINESS
S-36
PageS-31
1. Less than 500 bales.
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.
O 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.
§ Bales of 480 Ibs..
* New series.
PageS-32
1. Annual total includes revisions not distributed to the months.
2. Production of new vehicles (thous. of units) for Apr. 1987: passenger cars, 654; trucks
and buses. 325.
3. Effective with 1984, data are reported on an annual basis only. The annual/end of year
figure for 1982 has been revised and is available upon request.
4. Data are no longer available.
5. Effective with the July 1986 SURVEY, data have been revised back to 1984 and are
available upon request.
6. Effective with the Feb. 1987 SURVEY, data have been revised back to 1984 and are
available upon request.
7. Effective with 1987, frequency of reporting has been changed from a monthly to a
quarterly basis.
# 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.
O Courtesy of R.L. Polk & Co.; republication prohibited. Because data for some states
are not available, month-to-month comparisons are not strictly valid.
t Excludes railroad-owned private refrigerator cars and private line cars.
t Monthly revisions for 1984-85 are available upon request.
@ Effective with the Feb. 1986 SURVEY, retail inventories of trucks and buses have
been revised back to 1967. These revisions, which were made to reflect updated factors, are
shown on p. S-35 of the Feb. 1986 SURVEY.
* New series. GVW: gross vehicle weight. For an explanation of methodology and historical
data for retail sales of trucks and buses, see p. S-36 of the July 1986 SURVEY.
tt Data for 1983-86 have beeh revised and are available upon request.
NASD Stock Price Indexes and Sales Value and Volume
SOURCE: National Association of Securities Dealers, Inc.
The National Association of Securities Dealers Automated Quotations (NASDAQ) System included securities
of 4,417 over-the-counter companies with a total market
value of $362.2 billion at the end of 1986. The NASDAQ
National Market System (NASDAQ/NMS), which covers
NASDAQ securities that meet certain market and financial criteria (such as shares outstanding and asset size),
includes nearly all of the more than 2,600 larger NASDAQ
companies.
NASDAQ price indexes include all NASDAQ/NMS equities (except warrants) and other NASDAQ domestic
common stocks not designated on NMS. They are marketvalue weighted and are not adjusted for cash dividends.
The monthly indexes are averages of daily closing values.
For NASDAQ/NMS equities, all indexes use the last sale;
for non-NMS equities, the indexes use the highest bid.
May 1987
NASDAQ indexes were set equal to 100 on February 5,
1971, and NASDAQ/NMS indexes were set equal to 100
on July 10, 1984.
For NASDAQ/NMS issues, total daily volume of shares
sold for each issue is the sum of the volume of the reported
transactions. This same concept is used by the principal
exchanges. For non-NMS issues, the volume of shares sold
is calculated by summing the higher of the buy or sell number of shares for each issue as entered by each NASDAQ
market maker. This is equivalent to the net change in the
market maker's inventory plus the number of shares that
the marketmaker has both bought and sold. The market
value is the monthly total of daily dollar volume for all
trading days in the month. The daily dollar volume is the
sum of, each issue's daily share volume multiplied by the
last sale price for NASDAQ/NMS issues and the closing
high bid for non-NMS issues.
Td
SICTIQNS
Business indicators .,..
Commodity prices ......
Construction and real estate .„.......„,._,.„„..
Domestic trade ,«««...,.»..i«.;..«WMM^<««.,..
Labor force, employment, and earnings......
5, 6....
7, a
Transportation and communication „.»..
Chemicals and allied products ...........
Electric power and gas *.—.,..»„.*»«*,.»
Food and kindred products; tobacco .
Leather and products* «,.**»»»»*«»«*«+»*«*«**„
Lumber and products ....„.,......,..„....«,
Metals and manufacturers .,„.,.,...«.„.
Petroleum, coal, and products ...........
Pulp, paper, and paper products........
Rubber and rubber products..............
Stone, clay, and glass products.....,...*
Textile products ,**,.**.....,;«.„«*«.«««....
Transportation equipment..................
19, 20
20
20-23
23
23,24
24-27
27,28
29
30
30-32
32
.Footnotes +»«*«,«*»»«»****,**.. . «.;,. »*•*«»«***»»***,
33-35
' INDIVIDUAL SERIES
Advertising ,
™
8,11
32
" 13
18
17
4,32
Agricultural loans
*******
Air carrier operations .„„..*.„,
Air conditioners (room) .........
..».,.,
Aircraft and parts +„,.«»»»««»*„;
.......
Alcohol, denatured and ethyl
Alcoholic beverages ...............
Aluminum *„»»«»»«»»»*»***»»*+..**«+»,
,,,...,.*.,..™, - 25 •
2,4-4,8-12,31,32
Apparel .^^««^..*..«w^«*
Asphalt ,„„.,.,......„„,„„,+«,+*.;...,
Automobiles, etc .«*,w.^.**.».,. 2-4, 6, 8, 9, 14, IS, 17,32
Banking .
,„.... 13,14
21
- Barley ,»,.*«.»„..,....,
Battery shipments
«
27
22
Beef and veal.
Beverages ..........„,»».«*..............«,»«....
8,17,20
Blast furnaces, steel mills................
„"• 3*5
Bonds, prices, sales, yields .,»»..,**„»,.
,. 15,16
Brick »M*««*««**««««..,««««*,«fc;M»«...
30
Building and construction materials.......
.. 2,4,5
Building costs «»»,«.,.«»««*»»«»*»»*+.««*»»«*«+»«»<
7
Building permits .,,«...„...........«,.»,.»..«*,....
7
Business incorporation (new), failures ....
i
Business sales and inventories................
2,3
21
Carpets*
31
Cattle and calves........
22
Cement.......
30
Chain-store sales, firms with 11 or more
stores (retail trade)...........
9
™««
21
2-4,10-12, 15,17; 19, 20
Cigarettes and cigars «**»»„*
23
Clay products »»«„.»»*.. »
2-4,30
Clothing (see apparel)
Coal;,
Cocoa.
rr. 8, ?0
Coffee
Coke*.,
Combustion, atmosphere, heating equipment .,...........,.„,...,......,.,..,.,»,»»..„........,
26
15,19
Communication
Construction:
Contracts »..«......,„,*,.»**»*«.»,«..«.*,„«„»*
7
Costs ....«»„„„»,„«*,*„.«.„.„„„„„«».*„.
7
Employment, unemployment, hours,
10-12
earnings .«.«««.*.•*....«...«•«*•*«.*«...«...»...
Housing starts.........
7
New construction put in place».
7
Consumer credit ...„.„..,„„»...,..„..„
14
Consumer goods output, index
1,2
Consumer Price Index
5,6
Copper and copper products
25,26
21
Corn
Cost of living (see Consumer Price Index),
,
5,6
Cotton, raw and manufactures................... ,.... S, 30, 31
Credit, commercial bank, consumer..........
14
Crops ,,,
*5**21, 23,30
'
3,27
Currency in circulation.,
15
Dairy products *,»„..„....«
5,21
14
Debt, IXS, Government.,
1
Deflator, PCE .«....«..,„;»
9
Department, stores, sales, inventories.
Deposits, bank «,»«+,*,+***»*«+„....«.»*,,*«»,*«+,
13,15
3| '
'
•• '
'
Dishwashers and disposers**..„.,..«.».,.,*«„..,,,
Disposition of personal income .....,„....„..,„,
Distilled spirits'.,.„,..,-»„„**.,...«.,.,.„„„.„...,.,
Dividend payments .**.»«,.,„„„«*...,...,..,„.„„
Drugstores, sales .«»,-.,»,»«»«»**.*««.„»»,»,.**.»»**..
Earnings, weekly and hourly »..,.,.,*«.,>..„„.
Eating and drinking places
Eggs and poultry *»*«.,«'***«*»**».*.»..*«*»»»**»««**....
, Electric power »».»»**..,«.,..,„.,*«,«...,...,..»„„,„
Electrical machinery and equipment,.....,...
Employee-hours, aggregate, and indexes *«
Employment and employment cost .„...,...,....
Exports (see also Individual commodities)..
Failures, industrial and commercial...........
"" Farm prices »*«».«*.,»*+*«*..,.«*,»***«..„«...».«,.*»..„
Fate and oils *.,.*«..w,,.»*»*»,*»»,.....,.«..».*.,,*,.,...,,
Federal Government finance „„,;,
Federal Reserve banks, large commercial......
Federal Reserve member banks
Fertilizers .„,„
27
1
20 1, 15
8, 9
12 8,9
5, 22
2,20
2-5, 15, 27
11
1&-I1
16-18
5
" 5»-6
17
14
13
13
Flooring, hardwood .«.,.^«
Flour, wheat *.«..«.«.„*«»*«*,,
Fluid power proifttcts^
Food products *,„...„....„„,», 2-6, 8, 10-12, 15, 17, 20-23
Foreign trade (see also individual commod.) ...... 16-18
Freight cars (equipment) „»„„*„«..,.,„„„„.,«„..„.„
32
Fruits and vegetables »„„«»»*,..„.„,„„„».,„*»„.„„„»,
5
Fuel oil «.,„..„.»..,„„,„.,*________«W«««....«....W**M«»... 6, 28
Fuels .*»..«»,«»„«**»*«..«»«»»»«««*»*«.„.„„„,», 2, 6, 17, 27, 28
Furnaces ..«.«»»»*»«*«».«««..».»*».»*«»»»»+*,*«»,«,»»,«*»»»*»»*««....,
27
Furniture „„„„. — ....W«««........«,WM^..««^, 2, 6, 8-12
Gas, output, prices, sales, revenues
Gasoline „„*««..„„..,
Glass and products
Glycerin .„„„***.,„..,
Gold
Grains and products
Grocery stores
Gypsum and products
« 2, 6, 20
28
30
19
14
5, 21, 22
9
30
Hardware stores —„„,»,»—«.«.»„„,«.....,.„„„»„»
8
Heating equipment »»*«*•*».«.»»»*«*«****««„,»»»*+»**»,.,„»»
26
Help-wanted advertising index ...»««««™.,,«^
12
Hides and skins *.„„ .,,„;„*......„„„„«.„„».....„„»,
6
Hogs «„,„,*„„«„.,„»„„„,«.., ^.«««.*....ww«w*«,«
22
Home loan banks, outstanding advances ............
8
Home mortgages ..,,.,...,......,.».«»,.»...,..,...„.,...„...,.
8
Hotels, motor hotels and economy hotels...........
18
Hours, average weekly .......,..,...„.,...,....,...,„„..,...
11
Housefamfchiiigs WW^.«..^««,«^..«.WMM, 2,4,6, 8, 9
Household appliances, radios, and television sets
27
Housing starts and permits ,.,.„„»,»«,,,».„,„,,„*,„«,,
7
Imports (see also individual commodities).......... 17,18
Income personal
•*<•...». »
1
Income and employment tax receipts..................
14
Industrial production indexes:
By industry «««««...«.«w*«,.«.....,...,i.,,«««..,.w
I, 2
By market grouping „„„»,.,„..„..„„„.„*...„„,„„»
1,2
Installment credit „»„.„..„.....„„„„.„ w™«,«.
14
Instruments and related produets™™«,.,. 2-4,10-12
Interest and money rates *„„*,«***....„,„»„„„.,«.„,.
14
Inventories, manufacturers* and trade —.„.„„«* 3,4, 9
Inventory-sales rates *...„„.„»„.«..*...,.„,„»,„*„.„...,
3
Iron aitd steel «„„„„»...,.;..„„„.*..„.,,,„„„,„„ 2,15,24, 25
Labor force...........
9,10
Lamb and mutton.
..„.„„„.
22
l^ead „„„,»„..,..„,„„
«»«.«*...
26
Leather and products.
2, 6, 18-12, 23
Livestock...
......
...............
. ..................
,« 5,22
Loans, real estate, agricultural, bank (see also
Consumer credit) «*..»«,
8, 13
Lumber and* products '^
Machine tools *«.*„,«*
«„«„*.«. ..„*,«„,..„...„
26
Machinery „..„.....„„.„„«.....,. 2-6,10-12,15,17, 26, 27
Manufacturers' sales (or shipments), inventories,
orders ...«...*•>........,,....«....«...........«.....,...........,„., 3—5
Manufacturing employment, unemployment,
production workers, hours, earnings ............... 10-12
Manufacturing production indexes......................
1,2
Meat animals and meats *..*.—„«,«*... .„„»„*„, 5,22
Medical care +»»»**«»**»».*,.*».»»#»»»*»»»*».«„..»,»»«*»,«»«*»».»;.,
6
Metals,«^«^..«..»«««.«..,...*....«, 2-6,10-12,15, 24-26
Milk ««.**...W»W*«.^..*....W«^.«.««....,MM<«..,..,....
21
Mining „„„„*„», »„,*«««.«..*..«„,»„«».*.„.«„.„„» 2,10-12
Mobile homes, shipments, installment credit...... 7,14
Monetary statistics ...«.»*«,««....„.„*,»„+„*„.„...,„*„
15
Money and interest rates .,..«„„«,„......«„.„*«......
14
Money supply ......................................................
15
Mortgage applications, loans, rates.... ......... 8,13,14
Motor carriers *»»,«„....„„»„,**»,*....„„„*««..««.,..«».
18
Motor vehicles ,..».,»^,.....,,.,w« 2-4,6, 8,9,15,17,32
National parks, visits***.»,...
Newsprint ....,«««*«*.«...,..«..«.»»»*..*...,«(,;..M«.».^......' • 2f
. New York Stock Exchange, selected data ,.,„.„.. , - M
Nonferrous metals ....,.„, ,.,*,.»«. „„„. 2,4,5, J5, 2S, 26
Oils aM7aS7*rJ*rr.r,r^
Orders, new and unfilled, mantsfaeturers* «..,„««
Outlays, U.S. Government ,i««»*,»*.,.,.,w,».,««»««,.
Paiiit and paint materials .«.»...,*«*«»».**.,«....*»«»»*«
Paper and products and pulp «„...,„„..,.,.,»,„,«««..
17
4, S
14
10
2-4,
Parity ratio.**. _ _
_____
Passenger cars...,*,.*.,............,.„..* 2-4, 6,8,9,15,17,32
Passports issued ,»..,„,»»„*«„«««**«_„,,.„,*„*«*«*.„.«,.
18
Personal consumption expenditures ..................
1
Personal income ....,«»»».»«»»*.»,....»»»,*«,«.»^****,».,.«»« - .1
Personal outlays «,*«*»«*..„.,„.„„.,«»*»«*»*.«..*,».«..««»
\
Petroleum and products „.»*...«.„„,»..„„»*„„.«.».,„. 2-4,
10-12,15,17,27,28
Pig Iron w,*«,,...*..,,...,»«,ww«**.,...,..,.w,..,*.w*..«..M
24
Plastics and resin materials .,**...,..,*».*»»»,-*„*+»,...,,»
20
Population ......„„*,„««.«,...,»*..,.»».«*««..„..,„.„„**.»
9
Pork ...«.«.«..*,***.«**.»««....«..«,*,*«.^^
22
Poultry and eggs *,**,**,,..,„.„««*,* *** ...{.ZL*** 5 22
Price deflator, implicit (PCD ™,w*..«,...,...,w,
1
Prices (see also Individual commodities).™»«.«. 5,6
Printing and publishing »,«.„.».*«««...*...«..„,„. 2,10-12
Private sector employment, hours, earnings .................................................................. 10-11
Producer Price Indexes (see also Individual com* ^
modities) ...,...,w,.«,...,.......,w«.^...«..,....w..«».»
6
Profits, corporate.............*..,*...........,.,,,.,.**..,....,...
15
Public utilities ...„.„„,«„«,..„.,...„.„,„.„„... 1,1, 7,15, 20
Pulp and pulpwood ,**««..,...«»,_..,.*..,,....„,«,*.»«..,..
28
Purchasing power of the dollar »„,„.„«..««..««.,..
6
Radio and television ».,*,.„...,..
Railroads .......,„«,.......,.....«.<,„
Ranges and microwave ovens
Real estate........
Receipts, U.S. Government
Refrigerators and freezers.,
Registrations (new vehicles)
Rent (housing) „«.„„.........,.,
Retail trade.,
Rice.,.......,...,,
Rubber and products (incl. plastics).........
6,10-12,19
Saving, personal „.,...,..„„««„.
Savings and loan associations
Savings deposits ,—«..«.„«»«,
Securities issued,..
Security markets...
Services.,
Sheep and iambs..
Shoes and other footwear ........
Sliver
Spindle activity, cotton
Steel and steel manufactures
Stock market customer financing
Stock prices, yields, sales, etc
Stone, clay* glass products.....
Snifter ..„.„..»,
Sulfuricacid
Superphosphate
Synthetic textile products
-Tea imports .........................................................
23
Telephone and telegraph carriers ........................
19
Textiles and products .............. 2-4, 6, 10-12, 15, 30, 31
'
" ""
29
Tobacco and manufactures.
...... 1-4, 10-12,23
,+»...,„..„..,.
27
Tractors .„«........,...,..,.,....*..,.....
Trade (retail and wholesale)....
... 1, 3, 5, 8-12, 32
**.*...„..„,„.
18
Transit lines, urban ,.„,.„....„.„
Transportation...,
.,, 6, lft»-12, 15f 18
Transportation equipment.
2-6, 10-11, 15, 17, 32
Travel,.,
18
32
Truck trailers..........
2, 32"
Trucks.
Unemployment and insurance..
9,10,13
16
U.S. Government bonds...........
U.S. Government finance.........
».,*......
14
2,6,7,15,20
Vacuum cleaners....
Variety stores *,..
Vegetables and fruits......
Wages and salaries...
Washers and dryers
Water beaters ,»,.*,...,
Wheat and wheat dour
Wholesale trade .^...,...
Wood pulp „„«.„
Wool and wool manufactures
@FedFRASER