Full text of Survey of Current Business : November 1962
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NOVEMBER 1962
survey of
CURRENT
BUSINESS
U.S. DEPARTMENT OF COMMERCE
OFFICE OF BUSINESS ECONOMICS
SURVEY OF CURRENT BUSINESS
NOVEMBER 1962
VOL.
42, NO. II
U.S. Department of Commerc
Luther H. Hodges
Secretary
Office of Business Economics
M. Joseph Meehan
Director
THE BUSINESS SITUATION
Summary
PAGE
*
.
Louis J. Paradiso
Managing Director
1
Automobile Purchases at Record Pace—Personal Income Up—Industrial Production Steady
Financial Conditions Ease
Expansion in Government Programs in Fiscal 1963
2
4
GROSS NATIONAL PRODUCT AND INCOME IN
QUARTER
Expansion in Final Purchases
Inventory Buying Slackens
Murray F. Foss
Editor
K. Celeste Stokes
Statistics Editor
STAFF CONTRIBUTORS
TO THIS ISSUE
6
,«,«,.»
* . . . *.
7
7
ARTICLES
EXPANSION OF FIXED CAPITAL IN THE UNITED STATES
Rapid Postwar Growth—-Rise Slackens.
9
Business Review and Feature:
John A. Gorman
Helen B. Junz
National Income and Product:
Frederick M. Cone
Articles:
Postwar Investment Greatly Increases Stock of Fixed Capital—Rate
of Increase in Equipment Stocks Tapers Off, While Stocks of Structures
Continue to Grow
George Jaszi
Robert C. Wasson
Lawrence Grose
E. Lynn Williamson
Robert E. Graham, Jr.
Jaeqtielin Bauman
Annette R. Presley
CORPORATE PROFITS AND NATIONAL OUTPUT
Profits Share Declines in Postwar Period
19
Trend Over Postwar Period Reviewed—Effect on Corporate Profits and
National Income of Changes in Treasury Regulations—"Quarterly
Measure of Corporate Gross Profit
NEW OR REVISED STATISTICAL
Industrial Production Index on New Base.
*
Building Cost Index (AGC) on New Base.
Commercial Bank Credit (Seasonally Adjusted), New
,.....*.....
S3
S9
S17
CURRENT BUSINESS STATISTICS
General
Industry
Subject Index
Billy Jo Dawl
Graphics
S1-S24
S24-S40
Inside Back Cover
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U.S. DEPARTMENT OF COMMERCE FIELD OFFICES
Albuquerque, N. Mex., U.S. Courthouse.
Phone 247-0311.
Atlanta 3, Ga., Home Savings Bldg., 75 Forsyth St.,
NW. JAckson 2-4121.
Boston 10, Mass., Room 230, 80 Federal St. CApitol
3-2312,
Buffalo 3, N.Y., 504 Federal Bldg., 117 Ellicott St.
TL 3-4218.
Charleston 4, S.C., Area 2, Sergeant Jasper Bldg,, West
End Broad St. Phone 722-6551.
doyenne, Wyo., 207 Majestic Bldg., 16th St. and
Capitol Ave. Phone 634-2731.
Chicago 6, III., Room 1302, 228 W. Jackson Blvd.
ANdover 3-3600.
Cincinnati 2, Ohio, 809 Fifth Third Bank Bldg., 36 E.
Fourth St. DUnbar 1-2200.
Cleveland 1, Ohio, Federal Reserve Bank Bldg. s E. 6th
St. and Superior Ave. CHerry 1-7900.
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4-4151.
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B Road way 3-8234.
Honolniu 13, Hawaii, 202 International Savings Bldg.
Phone 58831
Houston 2, Tex., 5102 Federal Bldg., 515 Rusk Ave.
CApitol 8-0311
Jacksonville 2, Fla., 512 Greenleaf Bldg. ELgui 4-7111.
Kansas City 6, Mo., Room 2011,911 Walnut St. BAltimore 1-7000.
Los Angeles 15, Calif., Room 450, 1031 S. Broadway.
Richmond 9-4711.
Memphis 3, Tenn., 212 Falls Bldg, JAckson 6-3426.
Miami 32, Fla., 14 NE. First Avenue. FRanklin 7-2581.
Minneapolis 1, Minn., Room 304, Federal Bldg.
Phone 339-0112
New Orleans 12, La., 333 St. Charles Ave. Phone 529-2411.
New York 1, N.Y., Empire State Bldg. LOngacre 3-3377.
Philadelphia 7, Pa., Jefferson Bldg,, 1015 Chestnut St.
WAlnut 3-2400.
Phoenix 25, Ark,, 230 N. First Ave. Phone 261-3285.
Pittsburgh 22, Pa8,355 Fifth Ave. GRant 1-0800.
Portland 4, Oreg., 217 Old U.S. Courthouse Bldg.
C A pital 6-3361.
Reno, Nev.s 1479 Wells Ave. FAirview 2-7133.
Richmond 19, Va., 2105 Federal Bldg. Phone 649-3611.
St. Louis 3, Mo,, 2511 Federal Bldg. MAin 1-8100.
Salt Lake City 1, Utah, 222 SW. Temple St. DAvis
8-2911.
San Francisco 11, Calif., Room 419 Customhouse.
YUkon 6-3111.
Savannah, Ga., 235 U.S. Courthouse and P.O. Bldg.
A Dam s 2-4755.
Seattle 4, Wash,, 809 Federal Office Bldg., 909 First Ave.
Mutual 2-3300,
iia lion
OOME improvement occurred in business activity in October due largely to
the buoyancy of automobile sales. This
led to a stepping up of production
schedules and to renewed ordering of
steel by motor vehicle companies last
month and early November. Elsewhere the trends were mixed, with
FEDERAL GOVERNMENT PURCHASES OF
GOODS AND
SERVICES
• As of Recent Budget Review, Expected to
Total $64 1/2 Billion in Fiscal 1963
• National Security Accounts for $3 1 /2 Billion
of $4 1/2 Billion Increase
• Space Programs Rising Sharply
Billion $ (ratio scale)
100
80
Total Purchases
60
40
Military Functions
(incl. Military Assistance Program)
20
Government Purchases, Other
T/jan For National Defense
V
10
8
o
_
6
Atomic Energy
government an important influence in
the October rise in employment and
income. Nonf arm employment reached
a new high, but except for State and
local advances, changes from September
were relatively small.
The Cuban crisis, starting late in
October, and having widespread repercussions, did not record major effects
upon the current broad economic measures. There was no evidence of any
significant changes in business policy or
buying either by businessmen or consumers. The immediate reaction occurred in sensitive commodity markets
where there was a flurry of price increases, but this was short-lived; spot
prices on November 9 were only 1 percent higher than they were just before
the crisis week.
A drop in the stock market late in
October followed upon the announcement of military measures directed
toward eliminating the threat from
Cuba, but this gave way to a sharp rise
as evidence of progress eased international tensions; the rising tendency
continued into mid-November. Government defense ordering was high in
October, but it is not possible at this
time to identify any specific amount
which might have been attributable to
the Cuban developments.
Personal income up
I
I
1
1960
1961
1962 1963
Quarterly/ Seasonally Adjusted, at Annual Rates
O Fiscal 1963 estimate from Review of the 1963 Budget
U.S. Department of Commerce, Office of Business Economics
661964°—62
1
62-11-1
Personal income increased $2 billion
in October to an annual rate of $445%
billion. The October advance was
about twice the average monthly increase that had taken place from May
through August.
Wage and salary disbursements were
up by about $% billion over the September rate, mainly because of an increase
in government payrolls—chiefly at the
State and local level. The October
figures also reflected the cessation of the
demobilization of military reserve units,
which had been responsible for a fairsized drop in payments in the previous
month.
Manufacturing payrolls were about
unchanged in October for the second
successive month, with seasonally adjusted factory employment showing
little change over the month. Elsewhere in the private sector small advances were registered in noncommodity
producing industries.
October also witnessed an increase of
$0.7 billion in transfer payments at an
annual rate, and further small rises in
interest and dividends. A large part
of the increase in transfers stemmed
from a special payment to disabled
war veterans. The first year cost of
this new program is estimated at $0.1
billion but one-fourth of the total,
representing payments retroactive to
last July 1, was paid out last m o n t h .
Auto sales spurt
Over the past year automobile purchasing by consumers and business have
alternately stimulated and depressed
economic activity. Just a year ago a
strong demand for autos was a major
factor in the sharp increase in GNP.
Auto sales were not sustained in the
first quarter of this year, however, but
picked up again this spring only to fall
back this summer.
So far in the fourth quarter purchases
of new cars have been running at the
highest rate on record. The 730,000
units delivered by dealers in October ran
30,000 ahead of the best month in the
peak sales year of 1955. Possibly the
unusually high rate was affected by the
concentration of introduction dates at
the beginning of October, although a
vigorous sales pace was maintained in
the latter part of last month. In part,
October may have reflected some makeup for the slower sales rate in August
and September, when supplies were
short.
1
SUKVEY OF CURRENT BUSINESS
Even if some allowance is made for
this factor, there can be little doubt
that sales are moving extremely well
and have caused producers to step up
production schedules. After turning
out 720,000 cars in October, the largest
volume since November 1955, manufacturers have scheduled for November
a daily production rate fully as high
as the month before. Truck production has also been strong; the 125,000
units produced last month was the best
October in 10 years.
Auto dealers were not able to build
up stocks during October. The sharp
drop in the ratio of stocks to sales
follows upon—aside from the end of
the model year in August and September—several months in which stocks
have been relatively low compared to
purchases. The significance, of course,
is that the continuing need to replenish
dealer inventories is extending the period over which a high volume of
production may be expected.
Non-auto sales mixed
Apart from automobiles, retail sales
recorded mixed movements among the
major lines of trade. October retail
sales other than at automotive dealers
were about the same as the high third
quarter average. Department store
sales slipped back last month but late
in the month and early November were
making a stronger showing than they
had in the previous few weeks. With
incomes up, less political uncertainty,
and good weather, the upsurge to the
Christmas peak is now becoming
apparent.
Production steady
Steel production for the month of
October showed only a normal seasonal
advance, following two months of small
increase from very low levels, but there
was a slight acceleration in the rate of
operations in late October and early
November. For the week ended November 10, steel mills turned out 1.8
million tons of ingots, about 3 percent
above the previous month and a betterthan-seasonal performance. The very
recent improvement stems largely from
renewed steel buying by the automobile
industry, which has taken somewhat
longer than other metal-fabricating in-
dustries to get rid of the heavy steel
stocks accumulated in the early part of
this year. Aside from steel, production
changes in other broad industry groups
were largely offsetting last month, and
the pattern of virtually no change in
industrial output continued for the
third successive month.
November 1962
The relative ease may be traced to
the pace of business investment expansion, which has been moderate, and
to the action of the monetary authorities in facilitating the growth of
bank credit.
Corporations highly liquid
Although corporate purchases of
plant and equipment moved up early
in the current expansion, the rise was
moderate and, by the second quarter
of this year, such outlays had increased
much less than during prior advances.
Inventory and other working capital
requirements have abated recently.
This is normal, however, after some
quarters of economic expansion.
The improvement in business conditions last year was mirrored in a
sharp rise in corporate profits, and with
dividends and tax rates steady, the
total of corporate internal funds moved
up sharply. Since the turn of the year,
however, the profit volume has remained more or less level and the flow
of corporate internal funds from depreciation charges and retained earnings
has been maintained at about a $39
billion annual rate.
Fourth quarter business
With the fourth quarter about half
over indications point to a rise in output, income and demand over the third
quarter position, reviewed in a following
section.
Consumption and government purchasing are up, but not much
change is indicated in business
investment.
Financial Conditions Ease
Financial markets have eased since
the beginning of the year. Although
borrowing costs moved up in the late
spring and summer months, they have
since declined. This was in marked
contrast with earlier cyclical advances,
when interest rates moved generally
upwards throughout the expansion
period.
Table 1.—Sources and Uses of Corporate Funds, Annual, 1958-61; Half Years, 1958-62 1 2
[Billions of dollars]
1958
Sources, total
1959
1960
2d half
1st hal i
1961
1958
1959
1960
1961
1962
1958
1959
1950
22.0
19.9
26.6
26.8
29.2
22.1
31.9
15.1
4.1
11.0
14.7
3.0
11.7
16.9
4.2
12.6
1961
57.1
44.1
51.8
12.6
28.0
26.0
5.7
20.3
31.1
9.5
21.6
30.4
7.3
23.1
32.0
7.3
24.8
11.9
1.9
10.0
16.1
5.4
10.6
15.7
4.3
11.4
15.2
3.0
12.1
17.7
4.7
12.9
14.1
3.8
10.3
External long-term sources, total
Stocks. _
Bonds
Other debt _
. ..
10.9
3.6
5.9
1.4
9.5
3.7
4.1
1.8
9.8
3.0
5.0
1.7
11.1
4.5
5.1
1.4
5.6
1.8
3.2
.6
4.5
2.1
1.8
.6
4.6
1.6
2.0
1.0
6.2
2.8
2.7
.6
5.3
1.4
2.7
1.0
5.2
1.8
2.6
.8
5.1
1.6
2.3
1.1
5.2
1.4
3.1
.7
4.9
1.7
2.4
.8
Short-term sources, total
Bank loans
Trade payables
Federal income tax liabilities
Other
2.6
1.8 -1.4
7.4
1.3 -.4
2.5
.1
1.2
1.7
.4 -2.4 -2.1
2.8
1.7
1.0
3.7
.6
1.5
-.5
2.1
7.5
1.9
1.9
3.2
.5
9.1
2.8
3.6
1.7
.9
2.1
(4)
1.4
.9
—.1
10.1
Internal sources, total
Retained profits 3
Depreciation
Uses, total
Increase in physical assets, total
Plant and equipment _ _
Inventories (book value) _
Increase in financial assets, total
Receivables _
. ._
Consumer
Other
Cash and U.S. Government securities
Cash (including deposits)
U.S. Government securities - _
Other assets
39.4
8.7 -4.9
.4 -2.3
1.9
6.0
.6 -5.8
1.7
1.3
3^8
-2.5
1.7
3.9
16.5
5.4
1.3
2.6
5.3
2.1 -1.5
1.6
3.7
35.3
52.1
41.1
48.3
8.4
26.0
20.1
18.7
24.7
26.8
26.1
20.9
29.6
24.0
26. 4
-2.4
34.2
27.7
6.6
33.4
3,0.8
2.6
31.3 10.9
29.6 13.0
1.8 -2.1
17.7
12.8
4.9
18.5
14.6
3.9
14.1
13.9
.1
18.4
15.1
3.3
13.2
13.4
o
16.5 14.9
14.9 16.1
1.6 -1.2
17.3
15.7
1.6
11.3
6.7
-.3
6.9
17.9
10.9
2.4
8.4
7.7
7.6
1.6
6.0
17.0 -2.4
9.6
.8
.1 -1.6
9.5
2.3
8.3
5.5
-.1
5.6
1.6
4.6
2.7
3.7
-.1 -1.9
3.8
4.6
6.3
5.4
-.2
5.7
13.7
5.9
1.3
4.6
2.5 -4.4
.1 -4.3 -1.0 -3.0
2.9 — .5 -1.9 —2.6 -.8 -2.9
-.4 -3.9
2.0 -1.7 -.2 -.1
2.2
3.9
4.9
1.2
2.7
3.0
7.1
3.0
4.1
.7
2.7
2.9 -3.1
2.5 -1.1 -.2
.2
4.0 -2.9
4.1
3.1
1.9
Discrepancy (uses less sources)- -4.2 -5.0 -3.0 -3.4 -4.2 -2.0 -1.9 -1.2 -1.9
(4)
9.6
5.3
2.5
2.8
5^9
2.7
.7
6.1
4.0
1.7
2.2
12.3
6.9
2.0
4.9
2.9
1.2
.9
2.3
2.0 -1.2
1.4
.9
3.5
3.8
-.2
1.9
-3.1 -1.1
-2.3
1. Data for 1946-55 may be found in Table V-10 of U.S. Income and Output . 1956-57 estimates are in table 34 of July 1962
Survey.
2. Excludes banks and insurance companies.
3. Includes depletion.
4. Less than $50 millon.
Source: U.S. Department of Commerce, Office of Business Economics, based on Securities and Exchange Commission,
and other financial data.
SUKVEY OF CURRENT BUSINESS
November 1962
The enlarged flow of internal funds,
in combination with the relatively
small movement of corporate investment, served to reduce the corporate
net draft upon the money and capital
markets from that experienced in prior
periods of economic advance. Bond
issues showed little change until the
third quarter, when they dropped
moderately; during previous advances,
such issues had moved up sharply.
Bank loans also increased at a rather
slow pace.
Stock issues showed little increase in
the early part of 1962, and fell sharply
in the third quarter. In addition to
lower borrowing, corporations reduced
their net draft by maintaining liquid
asset holdings during most of the current
advance, whereas such assets were run
down during prior expansions to help
finance expanded investment and operating programs.
FINANCIAL CONDITIONS EASY
As Compared With the Prior Two Cyclical
Advances, Bank Reserve Positions Have
Been Well Maintained . . .
(Plotted from Cyclical Lows) *
Million $
1,000
FREE RESERVES
500
1954-55
1953-59
500
1,0001 i i i i i i i i i i i i i i i i i i i i i
T
2
4
6
8
10 12 14 16
Months after trough *
18
20
Permitting a Greater Expansion in
Bank Credit . . .
Billion $ (ratio scale)
250
DEPOSIT LIABILITIES
1961 -
Monetary policy easy
200
1958-59
^1954-55
150
i i i i i i i i i i i i i i i i i i i i i
T
2
4
6
8
10
12
14
16
18
20
Months after trough *
And With Loan Demand Expanding
at a Slower Rate . . .
The monetary authorities have pursued a policy of relative ease during the
course of the present expansion. The
Federal Reserve has maintained net
free bank reserves between $400 million and
$500 million despite a record increase
in commercial bank liabilities for this
phase of the cycle. (See chart.)
Until recently, the Federal Reserve
has relied upon open market operations
Billion $ (ratio scale)
150
150
125
LOANS
-
Long-Term Interest Rates Have Been Held
Banks Have Stepped Up Their Purchases
of U.S. and Other Securities
Billion $ (ratio scale)
"^S---^ -
to permit the expansion of bank
deposits; over $2 billion was added to
Federal Reserve holdings of U.S. Government securities during the year
ended September. In October, the
Board reduced reserve requirements
against time deposits, creating a larger
base for expansion of total deposits.
During the two previous business
upswings, the monetary authorities
had exerted pressure early in the
recovery period.
The commercial banks used this
increased lending power to expand
sharply the volume of bank credit.
Total deposits at all commercial banks
have risen 3J£ percent over the past 6
months, as compared with increases
averaging less than l/2 of 1 percent during
the comparable periods of the 1954-55
and 1958-59 rise.
Business loan and consumer credit
demands being lower than in prior
periods of increasing business, the
commercial banks purchased substantial
amounts of Federal, State and local
government securities and, particularly
in recent months, stepped up their
acquisitions of home mortgages. The
heightened bank demand for such
investments helped to ease considerably the financing problems of homebuyers and State and local governments
as compared with earlier advances.
Relatively Steady
Percent
INVESTMENTS
YIELD ON LONG-TERM ,
U.S. GOVERNMENT BONDS
125 -
1958-59 —^ ^
100 _
100
90 —
—
1954-55
80
••
70 .i_
60
90
--....
80
••***
^»«»
—
^ ._
_ ^x^""^»X^
+f^^^~ ^i_~
_
^-1958-59
^^x^^'^.^.rr... "^"-^^
/*••
^^^ 1954-55
/S54-55
—
1 1 1 I 1 1 1 1 1 1 1 1 1 1 ! J I i 1 1 1
70 —
—
1 !
60
T
• Months after trough*
_
1961 -62
1 1 1 i
2
4
1 1 i
6
8
1 1 1 1 1 1 1 1 1 I 1 1
10
12
14
16
18
Months after trough*
* National B.ureau of Economic Research reference troughs = 100-August 1954, April 1958, February 1961.
U.S. Department of Commerce, Office of Business Economics
20
I 1I I I i i I I I i I I I I I I i
6
8
10
12
14
16
16
20
Months after trough
Data: FRB & (J. S. Treasury
62-1t-d
SURVEY OF CURRENT BUSINESS
Table 2.—-Sources and Uses of Corporate Funds by Industry, Years Ended June 30,1959-62 1
[Billions of dollars]
Manufacturing and
mining
Railroads
Transportation other
Public utilities
than rail
and communications
1960
1961
1962
1959 1960
26.0
22.0
19.2
27.4
0.8
0.5
2.1
2.3
1.7
Retained profits 2
7.2
Depreciation
10.5
External long-term sources *_ 2.3
Short-term sources 5
.
6.0
6.8
11.0
1.3
2.9
5.0
11.6
2.4
2
7.4 -. 1 -.1 _ 2 -.1
12.4
.9
.9
.9
.8
2 -.1 -.2 -.2
1.8
.1 (3)
5.8
'.2
(3)
(3)
1.2
.5
.3
(3) -. 1
1.4 1.5
.4
.4
.6 -. 1
18.6
16.1
24.2
1.3
1.0
.5
1.0
2.0
2.1
11.9 14.3 14.9
Plant and equipment
_
3.1
3.5 -1.4
Inventories (book value)
3.5
Receivables and misc. assets- 5.2
2.9
Cash and U.S. Government
4.6 -2.1 -.9
securities
14.9
3.6
5.3
.7
(33)
()
1.0
(3)
.1
.8
-.1
(3)
.7
( 33)
()
1.4
(3)
.3
1.9
(3)
.2
.5
.5
-.1
-.3
.2
.3
(3)
Discrepancy (uses less
-1.2 -3.4 -3.2 -3.2
sources)
.5
.3
.1
Sources, total.. ..
Uses, total. .
24.8
0.7
1961 1962
1959 1960 1961 1962
1959
0.4
.4 -.1 -.2
1959
1960 1961 1962
1.9
8.2
8.5
8.8
8.5
(3)
1.6
.1
.2
.4
3.2
3.7
1.0
.5
3.5
3.5
1.0
.5
3.7
4.3
.2
.6
4.0
3.4
.5
1.9
1.9
9.1
8.9 10.0
9.3
1.6
(3)
.2
1.8
(3)
.2
8.6
(3)
8.5
(3)
4
8.7
(3)
8.9
(3)
5
.1 -.1
.1
(3)
.8
-.1
(3)
.9
.4
1.3
.8
.1
I
1. Data for the year ended June 30, 1957 may be found on p. 17 of the October 1960 SURVEY and for the year ended June
30, 1958 on p. 22 of the November 1961 SURVEY; statistics for years ended December 31,1958-61 are on p. 16 of the May 1962
SURVEY.
2. Includes depletion.
3. Less than $50 million.
4. Includes stocks, bonded debt, long-term bank loans, mortgages, and other long-term debt.
5. Includes short-term bank loans, trade payables.
Source: U.S. Department of Commerce, Office of Business Economics, based on Securities and Exchange Commission,
snd other financial data.
Expansion in Government Programs in Fiscal 1963
JL HE Federal Government is expected
to increase its demand for the Nation's
output of goods and services in fiscal
1963 by $4% billion over the precedingyears 's level according to the Review of
the 1963 Budget, recently released by
the Bureau of the Budget. This increase is of roughly the same order of
magnitude as that posted during fiscal
1962.
Since the Budget estimates for
the current fiscal year are consistent
with an average increase of about $25
billion in GNP over fiscal 1962, Federal
Government buying would account directly for about one-fifth of such an
increase in GNP. With the upswing
from the 1960-61 recession, higher
Federal demand constituted one-seventh of the $35 billion increase in GNP
in fiscal 1962. With Federal purchases
of goods and services at an annual rate
of $62.7 billion in the third quarter of
1962, quarterly increases of $1}J4 billion
on the average are implied for the remaining three quarters of the fiscal year
if the budget projections are realized.
Table 3, based on the Review of the
1963 Budget, summarizes the fiscal position of the Federal Government in
terms of the administrative budget, the
consolidated cash statement, and the
national income and product accounts.
(See note to this table for the principal
differences.)
Administrative budget
expenditures are expected to total $93%
billion, $6 billion more than in fiscal
1962, and slightly more than estimated
in last January's budget. Receipts are
estimated at almost $86 billion, $4%
billion above fiscal 1962, but $7 billion
below the earlier estimate which was
based upon a projection of a higher rate
of economic recovery. As a result, a
budget deficit of $7.8 billion is currently
expected rather than the $/<> billion surplus envisaged in January.
On a consolidated cash statement
basis, expenditures at $115 billion are
shown to exceed receipts at almost
$109 billion, by $6.3 billion. Translation of these figures into national income and product account terms shows
expenditures up by $7% billion from
fiscal 1962 to 1963 to $113}( billion, only
slightly more than anticipated in January. Receipts, at $108^ billion, while
$4 billion above fiscal 1962, would fall
short of expenditures by $4% billion,
and would be $7% billion below the earlier estimate.
The year-to-year increase in the Federal deficit on a national accounts basis,
at $3% billion, compares with an anticipated change of $1% billion in the
administrative budget and one of $%
billion in the cash statement deficits.
November 196
The shift to a larger national account
deficit reflects primarily the anticipate*
near-stability of corporate profits. A
a result, corporate tax accruals in fisca
1963 will about equal collections, whicl
are based on profits earned in calenda
1962. In 1962, with profits rising abovi
1961, accruals exceeded collections b^
$2% billion.
Federal receipts
activity
up with business
The $4 billion increase in Federal
receipts estimated for fiscal 1963 ovei
the preceding year is based on the
assumption that income and employment will rise at a moderate rate
throughout the remainder of the fiscal
year. Consequently, personal income
tax receipts are projected to rise by
about $2% billion to $50% billion.
Social insurance contributions, mainly
because of a statutory increase in the
tax rate for OASDT contributions of
one percentage point, effective January
1, 1963, and partly because of the
expected rise in the level of employment, are to increase by $2 billion.
Excise taxes generally should rise in
FEDERAL FISCAL POSITION
• Cash Budget Deficit Widens From $5.7 Billion
in Fiscal 1962 to $6.3 Billion in Fiscal 1963
• On National Income Accounts Basis Deficit
Rises From $0.9 Billion in Fiscal 1962 to
$4.5 Billion in Fiscal 1963
• Mainly Due to Accrual Rather Than Cash
Reporting of Corporate Profits Taxes
-15
1953
55
57
59
61
63
Fiscal Years
3 Fiscal 1963 estimate from Review of the 1963 Budget
J.S. Department of Commerce, Office of Business Economics
62-11-2
SURVEY OF CURRENT BUSINESS
November 1062
line with the anticipated increase in billion and the Defense Department programed $1 billion higher than in
economic activity, but the total rise accounting for the remainder of the the past fiscal year, with the general
will be dampened by the expiration increase. Non-defense purchases are pay raise enacted for civil service
of the 10 percent tax on the transporta(Continued on p. 28)
tion of persons, other than by air, and
Federal Receipts and Expenditures, Budget and
the reduction of the air transportation Table 4.—Reconcilation of Estimated
National Income Accounts, Fiscal 1963
tax from 10 percent to 5 percent.
[Billion dollars]
The Budget estimates imply that RECEIPTS
Budget receipts...,
__
85.9
corporate profits will be considerably
Less: Intragovernmental transactions
3.8
less than anticipated in January, and
Receipts from exercise of monetrary authority
_,
*
Plus: Trust fund receipts
26.8
probably only about $1 billion above
Equals: Federal receipts from the public (consolidated cash receipts)
108.9
fiscal 1962. However, corporate profits
Adjustments for agency coverage:
.3
Less: District of Columbia revenues.
tax accruals are expected to fall $1
billion below their 1962 total. This is Adjustments for netting and consolidation
Plus: Contributions to Federal employees' retirement funds, etc
1. 7
Less: Interest, dividends, and other earnings
1. 6
because the rise in tax accruals resulting
from the growth in corporate profits Adjustments for timing
Plus: Excess of corporate tax accruals over collections; personal taxes, social insurance contributions, etc
1.9
is expected to be more than offset by
Adjustments for capital transactions 1
the reduction in tax liability resulting
Less: Realization upon loans and investments, sale of government property, etc
1.7
from the investment tax credit provision Equals: Receipts—national income accounts
108.8
of the Revenue Act of 1962 and the EXPENDITURES
Budget expenditures
93.7
revised depreciation guidelines.
Less: Intragovernmental transactions
Accrued interest and other non-cash expenditures (net)
Plus: Trust fund expenditures
Government-sponsored enterprise expenditures (net)
Federal expenditures to rise
As in the preceding year, most of the
anticipated $4% billion increase in
Federal purchases of goods and services,
to $64% billion, is concentrated in the
national defense programs. These are
scheduled to cost $3% billion more than
in fiscal 1962, with outlays for the
space program rising by about
Table 3.—Federal Government Receipts and
Expenditures, 1961-63
Fiscal years
1962
Actual
1963
Jan.
1962
estimate
Equals: Federal payments to the public (consolidated cash expenditures)
115.1
Adjustments for agency coverage:
Less: District of Columbia expenditures
.3
Adjustments for netting and consolidation
Plus: Contributions to Federal employees' retirement funds, etc
Less: Interest received and proceeds of government sales
1.8
1.1
Adjustments for timing
Plus: Excess of interest accruals over payments on savings bonds and Treasury bills
Excess of deliveries
over expenditures
Miscellaneous 2
Less: Commodity Credit Corporation foreign currency exchanges
1963
Nov.
1962
estimate
.9
Adjustments for capital transactions 1
Less: Loans—FNMA secondary market mortgage purchases, redemption of IMF notes, etc
Trust and deposit fund items
Purchase of land and existing assets
,
1.8
1.1
.1
Equals: Expenditures—national income accounts
113. 3
Table 5.—Federal Government Receipts and Expenditures on National Income and Product
Account Basis, Fiscal 1961-63
[Billions of dollars]
Fiscal
Administrative Budget:
Receipts
ExpendituresSurplus or deficit (— )
77.7
81.5
-3.9
81.4
87.7
-6.3
93.0
92.5
+0.5
85.9
93.7
-7.8
Consolidated Cash Statement:
Receipts.
. _
Expenditures
Surplus or deficit (—)
97.2
99.5
-2.3
101.9
107.6
-5.7
116.6
114.8
+1.8
108.9
115.1
—6. 3
National Income and Product Account:
Receipts
_. .. 95.5 1 104. 8
97.7 105.7
E xpenditures
Surplus or deficit (— )
-2.2 -0.9
116.3
111.9
+4.4
108.8
113.3
-4.5
1961
1962
Actual
1. Excludes Revenue Act of 1962 provisions and depreciation reform which was made retroactive to January 1, 1962.
NOTE.—The difference between the administrative budget
and the cash budget is largely accounted for by the inclusion
in the latter of trust fund transactions. The national income
and product account includes trust fund transactions, but
differs in definition from the cash budget in several important
respects. Corporate profits taxes are recorded on an accrual
rather than a cash collections basis; loan transactions are
either omitted or involve differences in timing; the acquisition of financial and second-hand assets are excluded; and
an adjustment for the lag between deliveries and payments
for goods is incorporated.
Sources: Review of the 1963 Budget, and Office of Business
Economics.
.5
.9
.3
*Less than $50 million.
1. Consist of transactions in financial assets and liabilities, land and secondhand assets. Acquisition of newly produced
tangible assets are included in expenditures for goods and services as denned in the national income and products accounts.
2. Includes net change in Commodity Credit Corporation guaranteed non-recourse loans and increase in clearing account.
Sources: Bureau of the Budget and U.S. Department of Commerce, Office of Business Economics.
[Billions of dollars]
1961
3.8
1.1
26. 3
.1
Federal government receipts
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax accruals .
Contributions for social insurance
Federal government expenditures
Purchases of goods and services
Major national security
_. _ _ _ _ _
Transfer payments
To persons
Foreign (net)
Grants-in-aid to State and local governments
Net interest paid
Subsidies less current surplus of government enterprises
Surplus or deficit (— ) on income and product
account
95.5 2104.8
47.6
44.0
19.8
22.8
13.6
14.6
18.0
19.8
97.7
105.7
54.8
59.8
47.1
51.2
25.9
27.8
24.3
26.2
1.6
1.6
1962
1961
19631
1963
Jan.
Nov.
1962
1962
estimate estimate
III
IV
I
II
III
Seasonally adjusted at annual rates
116.3
51.7
27.5
15.3
21.8
111.9
64.2
54.7
29.4
27.4
2.0
108.8
50.2
21.8
15.1
21.7
113.3
64.5
54.9
29.5
27.6
1.9
98.9
45.1
21.3
13.9
18.6
102.2
56.5
48.4
27.7
26.2
1.5
103.8
46.7
23.7
14.7
18.8
105.1
59.5
50.8
27.8
26.1
1.6
105.9
48.0
23.0
14.6
20.3
108.3
61.9
53.0
28.0
26.3
1.7
108.4
49.2
23.4
15.2
20.5
109.0
62.1
53.2
28.0
26.3
1.7
« 108.8
49.9
n.a.
15.0
20.5
109.8
62.7
54.0
28.5
26.7
1.8
7.5
6.6
7.9
6.7
7.5
6.8
6.6
6.9
7.3
6.6
7.7
6.9
7.8
7.2
7.0
6.5
7.0
6.4
3.4
4.2
3.7
4.3
4.5
4.4
4.3
4.3
4.3
-2.2
-0.9
+4.4
-4.5
-3.3
-1.3
-2.4
-0.7
« -1.0
e. Estimate; na—Not available.
1. 1963 estimate from Review of the 1963 Budget.
2. Excludes Revenue Act of 1962 provisions and depreciation reform made retroactive to January 1, 1962.
Sources: Bureau of the Budget, Treasury Department, and Department of Commerce.
Gross National Product and Income in the Third Quarter
HPHE gross national product increased The most recent increase in final purby $3% billion in the third quarter, chases, $6% billion, compares with $9%
reaching a new high of $555X billion at billion for the second quarter and $5%
a seasonally adjusted annual rate. billion in the first quarter.
This represents an expansion of over
Net exports was the only major com$6 billion in final purchases, partly ponent of final purchases to decline.
offset by a reduction in the rate of Personal consumption expenditures ininventory accumulation. After allow- creased $3 billion despite a temporary
ance for price increases, there was a drop in auto purchases associated with
further rise in the volume offinalpur- the model changeover, followed in
chases, but with the inventory offset, October by the highest volume of sales
there was little increase in the volume in history. Despite sharply expanded
of total output over the quarter. production in that month, there was a
Compared with the third quarter of sizable decline in passenger car in1961, gross national product was up ventories.
6% percent, with real output up 4%
Expenditures for fixed investment
percent, and the remainder reflecting were up an additional $2 billion with
some rise in prices.
sharply higher construction activity
Inventories continued to rise, but the accounting for most of the rise. Feddecline in the annual rate of accumu- eral Government defense expenditures
lation for the quarter was $3 billion. and State and local government outlays
Final Purchases Move Aheat
for goods and services continued t<
push upward on a programed expansioi
and together accounted for an increasi
of $2 billion in the third quarter. Thi
programed rise in government ex
penditures is summarized in anothe:
section which reviews the 1963 federa.
budget.
A minor rise in national income anc
related measures paralleled the thirc
quarter GNP increase. Personal income was up $3 billion for the perioc
as a whole. Compared with a year ago
personal income was up $23 billion al
an annual rate, or 5% percent.
GNP REACHES NEW HIGH IN THIRD QUARTEF
Continued Rise in Final Purchases Offset Partly by
Reduced Inventory Accumulation
Fixed Investment Has Risen Less Than Other Final
Purchases in Recent Years
Billion 1954 $ (ratio scale)
500
Table 6.—Gross National Product in Current and Constant Dollars (1-3, 1-5)
1962
1961
1959 1960 1961
o,! IV
I
II
1961
III
1959
1960 1961
Seasonally adjusted at
annual rates
IV
I
II
Inventory Changs
Final Purchases
III
Seasonally adjusted at
annual rates
300
Billions of 1954 dollars
Billions of current dollars
Gross national product _ - . _
III
400
1962
482.7 503.4 518.7 522.3 538.6 545.0 552.0 555.3 428.6 440.2 447.9 450.4 463.4 467.4 470.8 471.6
Personal consumption expendi313.5 328.5 338.1 340.1 346.1 350.2 354.9 358.2 288.9 298.3 304.3 306.0 310.6 313.9 316. 9 319.0
tures
43.6 44.8 43.7 44.0 46.6 46.3 47.2 47.1 41.0 42.2 41.6 41.7 44.4 44. 1 44.6 44.6
147. 1 151.8 155. 2 156.2 157. 2 159.9 161.3 163.0 138.7 141.4 143.3 144.4 144.9 147.0 148.1 149.5
122.8 131.9 139.1 139.9 142.3 144.1 146.3 148.1 109.2 114.7 119.4 120.0 121.4 122.8 124.1 125.0
Durable goods
Nondurable goods
Services
Gross private domestic investment
_ _ _
- . _ -_
72.7 72.4 69.3 72.4 76.6 75.9 77.4 76.3 61.7 60.7 57.8 60.4 64.1 63.3 64.1 62.4
Residential nonfarm
Other
Producers' durable equipment
Change in business inventories
22.3 21. 1 21.0 21.9 22.8 21.2 23.3 24.3 19.5 18.2 18.2 18.8 19.7 18.2 19.9 20.5
17.9 19.7 20.5 20.7 20.4 20.5 21.2 21.8 14.9 16. 1 16.6 16.7 16.4 16.4 16.8 17.2
6.6
4.1
2.1
4.0
6.0
6.7
4.0
1.0
5.9
3.7
2.0
3.5
5.4
5.9
3.7
.8
5.3
.1
5.8
.1
3.6
.1
.8
.0
1.4
1.3
6.5
.1
3.7
.3
1.9
.2
3.8
-2
5.9
.1
6.6
.1
3.9
.1
1.0 5.9
.0 -.0
3.4
.3
1.8
.1
Net exports of goods and services .. -.8
2.9
4.0
2.8
3.8
3.7
3.7
2.5 —2. 1
1.5
1.8
.7
Exports
Imports
__ .
..
. _ -. -
Government purchases of goods
and services_. Federal
National defense
Other
Less: Government sales
State and local
Government Purchases of
Goods and Services
90
80
25.9 27.6 25.5 25.8 27.4 27.6 28.9 29.2 21.4 22.7 21.1 21.3 22.7 22.8 23.8 24.0
3.4
.1
„
100
40.2 40.7 41.6 42.6 43.2 41.6 44. 5 46.1 34.4 34.3 34.8 35.6 36. 1 34.6 36.7 37.7
New construction
Nonfarm
Farm
Personal Consumption
Expenditures
70
Fixed Investment
.7 -.3
22.9 26.4 27.3 26.9 28.3 28.2 29.0 28.3 21.9 24.9 25.3 25.1 26.2 26.1 26.6 26.2
23.6 23.5 23.3 24. 1 24.5 24.5 25.3 25.8 24. 1 23.4 23.5 24.4 24.8 24.8 25.9 26.5
60
97.2 99.7 107.4 106.9 112.1 115.2 116.0 118.2 80.1 79.8 84.0 83.3 87.2 88.9 89.2 90.5
53.6 53.2 57.0 56.5 59.5 61.9 62.1 62.7 43.9 42.3 44.5 44.1 46.7 48.3 48.6 49.0
46.2 45.7 49! 0 48.4 50.8 53.0 53.2 54.0
7.0 8.1 8.7 8.7 9.2 9.6 9.5 9.6
.5
.6
.6
.6
.6
.6
.6
.8
43.6 46.5 50.4 50.4 52.6 53.3 54.0 55.5 36.2 37.4 39.4 39.2 40.5 40.6 40.6 41.5
50
1956
1958
1960
1962
Quarterly, Seasonally Adjusted, at Annual Rates
U.S. Department of Commerce, Office of Business Economics
62-11-4
SURVEY OF CURRENT BUSINESS
November 1962
Table 8.—Gross National Product by Major Type of Product in Current and Constant
Dollars (1-6, 1-7)
Moderate Rise in Consumer
Buying
1962
1961
Personal consumption expenditures
advanced to $358 billion. Though the
$3 billion increase was the smallest
since activity began its current rise
early in 1961, it brought total consumption 5% percent ahead of a year ago.
After allowance for price changes, the
cumulative increase since the first quarter of last year amounts to about 7
percent. This compares with an 8 percent increase over the corresponding
period of the 1958-59 expansion, (see
chart.) and nearly 11 percent for
1954-55.
1959
III
IV
Nondurable goods output. ...
Final sales
_
Inventory change
Billions of 1954 dollars
56.3 56.7 58.6 59.2 61.0 59.0 61.8 63.6 48.3 47 8 49.3 49.7 51.0
ducers opening their new model year in
late September or early October, sales
for the latter month exceeded all records, giving an impetus to total consumer buying. Purchases of other types of
durable goods moved upward during the
quarter following a rather weak perform-
49.2 51.0
52.1
ance earlier in the year. Overall, durable
goods buying has held remarkably
steady—about $47 billion—since the
closing quarter of 1961, following a $6
billion rise earlier in that year.
Food and clothing purchases higher
383.9
400.8
416.4
419.4
427. 3
432. 0
439.5
442.6
258.5
271.3
278.8
281.0
286.1
289.9
295.9
297.8
107.2
84.7
68.2
37.7
45.3
110.4
87.4
71.8
40.7
48.4
110.8
87.5
72,9
43.4
51.8
111.7
88.2
73.4
43.8
52.2
114.3
90.7
73.9
44.3
53.6
115.0
91.9
74.9
45.1
54.9
118.1
94.4
76.1
45.9
45.8
118.0
94.1
76.5
46.9
56.4
Drop in Inventory
Accumulation
Gross private domestic investment,
at a $76% billion annual rate, was off
nearly $1 billion for the quarter, but
still $Y2 billion higher than in the first
quarter when inventories were accumulating at a rate of nearly $7 billion as
compared with only $1 billion in the
third quarter.
1960
1961
III
1962
IV
j
I
II
III
11.0
11.4
11.4
11.6
12.0
12.3
12.4
47.8
34.8
13.1
48.1
35.1
13.1
49 5
36.0
13.6
49.1
36.2
12.9
49.5
36.8
12.8
49.7
37.0
12.8
Rental income of persons
11,9
11.9
12.3
12.3
12.5
12.6
12.8
12.9
Dividends
13.7
14.4
15.0
14.9
15.5
15.8
15.8
15.8
Personal interest income
23.5
25.8
27.4
27.5
28.1
28.8
29.4
30.0
Transfer payments
27.5
29.4
33.4
33.7
33.8
34.1
34.2
34.4
10.2
2.5
4.5
10.3
11.1
2.8
4.5
10.9
12.6
4.0
4.8
12.0
12.8
3.9
4.7
12.3
13.4
3.7
4.8
11.9
13.7
3.3
4.8
12.3
14.4
2.7
4.8
12.3
14.5
2.7
4.7
12.5
7.9
9.2
9.7
9.7
9.9
10.3
10.5
10.5
46.8
51.4
52.8
53.0
54.6
56.4
57.7
58.5
40.4
6.4
44.0
7.4
45.0
7.8
45.1
7.9
46.7
8.0
48.0
8.4
49.2
8.5
49.9
8.6
Equals: Disposable personal income
337.1
349.4
363.6
366.3
372.6
375.6
381.8
384.1
Less. Personal consumption expenditures. -
313.5
328.5
338.1
340.1
346.1
350.2
354.9
358.2
20.9
25.6
26.3
26.5
25.4
26.9
26.0
327.3
329.7
334.5
336.6
340.9
342.1
\
175 8 188.6 200.7 201.3 206.6 211.1 213.5 215.9 151.4 158.3 165.2 165.4 168.7 171.8 172.7 173.7
46.2
34.2
12.0
Addendum: Disposable personal income in constant
(1954) dollars
Seasonally adjusts at
annual rate?
155. 6 160.9 165.4 164. 2 168.8 171.5 172.2 170.8 145.9 149.1 151.4 150.3 154.4 156.5 156.8 155. 0
152.5 159.2 163. 3 163. 5 166. 3 168.4 170.0 171.7 143.0 147.5 149.5 149.8 152.1 153.5 154.7 155. 9
Q
3.1 1.8 2.1
.6 2.5 3.1 2.2
2.9 1.6 1.8
.5 2.2 3.0 2. 1 -,<J
10.4
Equals: Personal saving
III
95.0 97.2 94.0 97.7 102.3 103.4 104.5 104.9 82.9 85.0 82.1 85.0 89.4 89.9 90.3 90. h
91.5 95.0 94.0 94.3 98.8 99.9 102.6 103. 0 80.0 82.9 82.0 82.0 86.3 87.0 88.7 89.1
3.5 2.3
.0 3.4 3.5 3.5 1.9 1.9 3.0 2.1
.1 3.0 3.1 2.9 1.6 1.C-
46.5
35 1
11.4
- _ _ _ _ _ _ __
II
Durable goods output
Final sales
Inventory change
Proprietors' income
Business and professional
Farm
Federal
.State and local
I
IV
250.6 258.2 259.4 261.8 271. 0 274.9 276.7 275.7 228.8 234.0 233. 5 235.3 243. 7 246.4 247.1 245.8
244.0 254.1 257.2 257.8 265. 0 268.2 272. 6 274.7 222.9 230.3 231.5 231.8 238.4 240.5 243.4 245. 0
.8
6.6 4. 1 2.1 4.0 6.0 6.7 4.0 1.0 5.9 3.7 2.0 3.5 5.4 5.9 3.7
Other labor income
Less; Personal tax and nontax payments
III
Goods output
Final sales- Inventory change
Seasonally adjusted at annual rates
Less: Personal contributions for social insurance. _
1961
Third quarter increases in the normally sluggish expenditures for food
and clothing were both significantly
higher than usual. Slightly higher
prices accounted for some of the increase
in food expenditures, but retail clothing
prices were off somewhat for the quarter.
Expenditures for other types of nondurable goods were little changed for
the quarter.
1959
Old-age and survivors insurance benefits
State unemployment insurance benefits
Veterans' benefits
Other
1960
476.1 499.4 516.6 518.3 532. 6 538.3 547.9 554. 2 422.7 436. 5 446.0 446.9 458.1 461.5 467. 2 470. 8
. fr
2.0 3.5 5.4 5.9 3.7
6.6 4.1 2.1 4.0 6.0 6.7 4.0 1.0 5.9
19«1
Commodity-producing industries ..
Manufacturing only
Distributive industriesService industries
Government
1959
III
Final sales
Inventory change
[Billions of dollars]
Wage and salary disbursements, - _ - . _ .
11
482.7 503.4 518.7 522.3 538. 6 545.0 552.0 555. 3 428.6 440.2 447.9 450.4 463.4 467.4 470.8 471. fc
Gross national product
Table 7.—Personal Income and its Use (II-2)
Personal income
I
Billions of current dollars
Construction
Consumer purchases of durable goods
were unchanged for the quarter, as
increased buying of furniture and household equipment offset the lower purchases of new cars, which was attributable in large part to inadequate dealer
inventories rather than to a lower level
of consumer demand. With all pro-
1961
Seasonally adjusted at
annual rates
Services
Durable goods sales unchanged
1960
1962
1961
23.6
310.7
317.3
Fixed investment rise
The third quarter rise in business
outlays for plant and equipment came
to a little over $1 billion as compared
with the second quarter rise of $2 billion.
The slowdown was concentrated in
equipment purchases as plant outlays,
which had shown little net gain during
(continued on p. 28)
SURVEY OF CURRENT BUSINESS
8
Table 9.—Relation of Gross National Product, National Income,
and Personal Income (1-18)
November 196
Table 11.—Personal Consumption Expenditures by Major Typ
(II-6)
[Billions of dollars]
[Billions of dollar?]
1959
1960
1961
III
1961
1962
1961
IV
I
II
1959
III
1960
1961
482.7 503.4 518.7 522.3 538.6 545. 0 552. 0
Less: Capital consumption allowances. 41.0
Equals: Net national product. . . _ _
43.2
45.3
45.7
46.6
47.0
47.5
441.7 460.2 473.4 476.6 492.0 498.0 504. 5
L€>SS: Indirect business tax and nontax
liability
42.6 46.5 48.2 48.3 49.7 50.2 51.4
2.1
Business transfer payments. .
2.1
2.1
2.1
2.1
2.1
2.1
Statistical discrepancy
-3.0 -3.4 -3. 1 -3.1 -1.9 -1.4 -4.0
Pius: Subsidies minus current surplus
of government enterprises
Equals* National income
Less: Corporate profits and inventory
valuation adjustment
_.
Contributions for social insurance
Excess of wage accruals over disbursements
Plus: Government transfer payments
to persons
Net interest paid by government
Dividends
Business transfer payments
47.5
507. 8
51.8
2.1
n.a.
Goods and services, total
43.7
44.0
46.6
46.3
47.2
47.
Automobiles and parts
18.1
18.8
17.2
16.9
19.4
19.1
20.3
19.;
Furniture and household equipment
18.9
19.1
19.3
19.7
19.8
19.7
19.3
20.1
6 6
7 0
7 3
7 4
7 4
75
7.6
Other
1.8
Food and beverages
n.a.
Clothing and shoes
47.2
17.6
.0
25.4
7. 1
13 7
2. 1
45.6
20.6
1.7
45.5
21.6
.0
27.3
7.8
14.4
2.1
.0
31.3
7.3
15.0
2.1
2.1
46.0
2.0
51. 1
1.8
50.4
50.8
n.a.
21.8
22.1
23.6
23.9
24.0
.0
.0
.0
.0
.0
31.6
7.2
14.9
2.1
31.6
7.2
15.5
2.1
31.9
7.3
15.8
2.1
32.0
7.4
15.8
2.1
32.3
7.5
15.8
2.1
442.6
358.:
44.8
1.8
.5
III
43.6
400.5 415.5 427.8 431.3 444.0 448.9 456.7
.4
II
313.5 328.5 338. 1 340.1 346. 1 350.2 354.9
Durable goods, total
Nondurable goods, total
383.9 400.8 416.4 419.4 427.3 432.0 439.5
Equals: Personal income .
555. 3
I
IV
Seasonally adjusted at annual
rates
Seasonally adjusted at annual
rates
Gross national product
III
1962
Gasoline and oil
_ _ _ _ . 147.1 151.8 155.2 156.2 157.2 159.9 161.3
7. f
163. C
-_
77. 7
79.5
81.1
81. 5
82.1
83.7
84.2
85.3
_ _ _
27.5
28.1
28.6
29.0
29.2
29.8
29.8
30.3
. . _ _ _._
Other
Services, total
11.1
11.7
11.9
11.9
12.1
12.1
12.3
12.5
30.9
32.5
33.6
33.8
33.8
34.3
34.9
34.8
122.8 131.9 139.1 139.9 142. 3 144.1 146.3
148.1
Housing
39.6
41.8
43.9
44.1
44.8
45.2
45.7
46.2
Household operation
18.1
19.6
20.6
20.7
21.0
21.3
21.8
21.9
Transportation
10.0
10.7
11.1
11.1
11.4
11.5
11.5
11.6
Other
55.1
59.7
63.5
64.0
65.1
66.0
67. 3
68.4
Table 12.—Foreign Transactions in the National Income Accounts
(IV-2)
[Billions of dollars]
Table 10.—Government Receipts and Expenditures (III-3, III-4)
1961
1959
1960
1961
III
1959
1962
IV
I
II
90.3
96.9
98.3
98.9 103.8 105.9 108.4
n.a.
40.4
22.0
44.0
21.2
45.0
21.0
45.1
21.3
46.7
23.7
48.0
23.0
49.2
23.4
49.9
n.a.
13.0
14.9
14.1
17.6
13.9
18.4
13.9
18.6
14.7
18.8
14.6
20.3
15.2
20.5
15.0
20.5
109.8
91.4
93.1 102.1 102.2 105.1 108.3 109.0
Purchases of goods and services
53.6
53.2
57.0
56.5
59.5
61.9
62.1
62.7
Transfer pavments
To persons
Foreign (net)
22.2
20.6
1.5
23.8
22.2
1.6
27.4
25.8
1.6
27.7
26.2
1.5
27.8
26.1
1.6
28.0
26.3
1.7
28.0
26.3
1.7
28.5
26.7
1.8
Grants-in-aid to State and local
governments
6.7
6.3
7.0
7.0
7.0
7.5
7.9
7.5
Net interest paid
6.4
7.1
6.6
6.5
6.4
6.6
6.7
6.8
Subsidies less current surplus of
government enterprises
2.5
2.8
4.1
4.5
4.4
4.3
4.3
4.3
-.7
n.a.
Federal Government expenditures
Surplus or deficit (— ) on income
and product account - __
-1.1
53.6
53.8
54.8
56.3
57.4
n.a.
7.4
1.3
7.8
1.3
7.9
1.3
8.0
1.4
8.4
1.4
8.5
1.4
8.6
n.a.
32.5
3.0
6.3
34.2
3.2
7.0
34.4
3.2
7.0
35. 1
3.3
7.0
35.6
3.3
7.5
36.2
3.4
7.9
36.9
3.4
7.5
47.0
50.0
54.2
54.1
56.4
57.1
57.8
59.3
43.6
4.8
46.5
5.0
50.4
5.4
50.4
5.4
7
52.6
5.5
53.3
5.6
54.0
5. 7
55.5
5.6
State and local government receipts. ._ 46.6
Personal tax and nontax receipts, . 6.4
Corporate profits tax accruals
1.2
Indirect business tax and nontax
29. 6
accruals
Contributions for social insurance-. 2.7
6. 7
Federal grants-in-aid
State and local government expenditures
- - Purchases of goods and services
Transfer payments to persons
Less: Current surplus of government en terprises
Surplus or deficit (— ) on income and
product account
3.8 -3.8 -3.3 -1.3 -2.4
-.3
50.4
1961
2.2
2.4
2.4
2.4
2.5
2.5
2.6
.4
-.6
0
-1.6
-.8
-.4
n.a.
III
IV
I
II
III
Seasonally adjusted at annual
rates
Receipts from abroad
22.9
26.4
27.3
26.9
28.3
28.2
29.0
28.3
22.9
26.4
27.3
26.9
28.3
28.2
29.0
28.3
22.9
26.4
27.3
26.9
28.3
28.2
29.0
28.3
23.6
Imports of goods and services
Net transfer payments by Govern1.5
ment
Net foreign investment _ - —2.3
23.5
23.3
24. 1
24.5
24.5
25.3
25.8
1.6
1.3
1.6
2.4
1.5
1.3
1.6
2.2
1.7
2.0
1.7
2.0
1.8
.7
Exports of goods and services
Personal tax and nontax receipts. .
Corporate profits tax accruals
Indirect business tax and nonta.accruals
Contributions for social insurance. .
1960
III
Seasonally adjusted at annual
rates
Federal Government receipts .
1962
1961
[Billions of dollars]
Payments to abroad
Table 13.—Sources and Uses of Gross Saving (V-2)
[ Billions of dollars]
1961
1959
1960
1961
III
1962
IV
I
II
III
Seasonally adjusted at annual
rates
Gross private saving
.
. .. _
74.9
72.9
79.2
80.4
83.5
82.5
84.5
n.a.
Personal saving
.. _
_ _ _ . 23.6
Undistributed corporate profits
10.8
Corporate inventory valuation adjustment
Capital consumption allowance
41.0
Excess of wage accruals over dis.0
bursements
- - _ .-
20.9
8.6
25. 6
8.3
26.3
8.7
26.5
10.8
25.4
9.9
26.9
10.3
26.0
n.a.
.2
43.2
.0
45.3
-.3
45.7
-.3
46.6
.3
47.0
2
47" 5
n.a.
47.5
.0
.0
.0
.0
.0
.0
.0
-3.6 —2.9 -3.3 -1.1
n.a.
Government surplus on income and
product transactions
- - - -1.5
Federal
State and local
- .. ..
-1.1
4.2 -4.4
3.8 -3.8 -3.3 -1.3 -2.4
.4 -.6 -.3 -1.6 -.8
-.7
-.4
n.a.
n.a.
70.4
73.7
71.7
73.8
78.8
77.8
79.4
77.0
Gross private domestic invest72.7
ment
-2.3
Net foreign investment
72.4
1.3
69.3
,4
72.4
1.3
76.6
2.2
75.9
2.0
77.4
2.0
76. 3
.7
Gross investment
Statistical discrepancy
-3.0 -3.4 -3.1 -3.1 — 1.9 — 1.4 -4.0
n.a.
BY GEORGE JASZI, ROBERT C. \VASSON AND LAWRENCE GROSE
Expansion of Fixed Business Capital in the United States
Rapid Postwar Growth—Rise Slackens
N connection with an inter-departImental
study of economic growth,
the Office of Business Economics is
undertaking several projects aimed at
the measurement and analysis of the
Nation's capital stock and its characteristics. The purpose of this report is
to highlight some of the major results
of the first of these projects which has
just been completed. The technical
nature of the project is described in
an appendix to this report; aspects of
the methodology relevant to the interpretation of the results will be brought
out in the text discussion.
Capital goods project
The unique feature of the project
is that it presents calculations of the
capital stock and its characteristics on
the basis of a large number of alternative assumptions as to the economic
service life of structures and equipment,
depreciation formulas, and bases of
valuation. Several variants are calculated because in our present state
of knowledge we cannot choose any
single one of them in the firm belief
that it is the correct one. The present
article discusses only a very small part
of the calculations that have been
made—namely, those most relevant to
a summary description of the changes
in fixed business capital that have
occurred in the postwar period. No
attempt is made to use the new series
in the analysis of the many problems
relating to the role of capital in the
economy.
In view of the fact that the new
figures cover the entire business economy and, moreover, provide a wide
range of variant calculations, it was
necessary to adopt rather summary
statistical techniques in order to keep
the project to manageable proportions.
As a consequence, it is quite probable
that detailed estimates of components
or characteristics of the capital stock
661964°—62
2
that have been prepared in the past
will be superior to the corresponding
series taken from the present study.
Anyone whose particular concern is
with the intensive study of such
components in isolation will probably
want to use these estimates rather
than the present OBE calculations.
On the other hand, OBE's new study
is more likely to be useful in obtaining
an overall view of broad inter-relationships, and especially of the effect of
alternative assumptions on the final
results.
It should also be noted that some
of the results indicated by the present
project may be modified in the light
of those produced by the somewhat
more refined methodology that underlies a sequel of it that has been scheduled.
However, even if all available refinements are utilized, it is clear that,
because of the conceptual uncertainies
and data gaps, the result of these
studies cannot be used like singlevalue estimates of the kind OBE
prepares for most of the components
of the national economic accounts.
Rather they must be regarded as a
set of alternative calculations, based
upon a wide range of assumptions.
They can be used by choosing among
the variants the one most in line with
one's economic conceptions, and also
by examining a broad range of variants
to extract the common story they tell.
These general remarks, which are
intended to ensure a proper understanding of the new figures, will
become clearer in the light of the
subsequent discussion, and by reference
to the technical appendix.
We start with a review of gross
business capital—i.e., capital measured
before depreciation allowances for wear
and tear and obsolescence. For some
purposes magnitudes net of depreciation are more relevant, and these are
taken up next. Finally, the changing
age composition of business capital is
discussed.
Summary conclusions
The major conclusions may be summarized as follows: The postwar investment boom has led to a very large
increase in the Nation's stock of fixed
business capital—structures and equipment. The rate of increase has tapered
sharply, especially in recent years.
This tapering has centered in equipment stocks, the major factor in the
postwar expansion. Stocks of structures, w^hose relative expansion has
been less spectacular, have continued
to grow at rates that show little evidence of slackening.
Reflecting also the circumstance that
the physical volume of equipment
stocks at the beginning of the postwar
period apparently was not much different from that of the late 1920's,
whereas structure stocks were much
lower, the growth of aggregate equipment stocks for the entire period since
1929 has kept pace with that of output.
For stocks of structures, and consequently for stocks of fixed business
capital as a whole, the capital-output
proportions obtaining in the late 1920's
have not been restored, in spite of the
postwar boom. This generalization, it
may be noted, does not take into
account possible variations in the rate
of utilization of capital.
The postwar expansion in capital
stocks appears to have been relatively
largest in manufacturing: the total of
nonfarm industries outside manufacturing ranked second; the expansion
in farming was the smallest among
these three broad industry groups distinguished in the study. As compared
with 1929 also the share of manufacturing appears to have increased.
In the early phases of the postwar
boom, a marked improvement occurred
in the age composition of the capital
stock. The proportion of unexpired
services available for future use embodied in the capital stock went up
sharply; and the average age of the
9
10
SURVEY OF CUERP:NT BUSINESS
farm industries other than manufacturing has done better than manufacturing
in vestment. The latter difference can
be traced to investment in structures,
which has been stronger outside of
manufacturing than in manufacturing
and also lias been a larger component
of the total.
If, for historical perspective, the
postwar period is compared with the
late 1920's, large increases are of
course seen to have occurred in the
totals and major components of investment. Equipment investment has kept
pace with the expansion of output, but
investment in structures and consePostwar Investment Outlays
quently the total does not seem to have
done so. This is apparent from the
Table 1 shows gross outlays for fixed current-dollar figures, but much more
business investment for selected periods pronounced in terms of the constantsince 1927. The basic series are classi- dollar figures shown in table 1, because
fied into nonresidential structures and as compared with the late 1920's conequipment, and by broad industrial struction costs appear to have risen
groups—farm, manufacturing, and all more than average.
other industries.1
Several hypotheses have been adGross investment in table 1 is vanced to explain the unfavorable
measured in constant 1954 dollars— record of construction, such as excess
i.e., the current-dollar investment series investment in structures during the
have been corrected for price change late 1920's, technological developments
to measure movements in the physical requiring fewer structures per unit of
or "real" volume of investment.
equipment, and the rapid rise in conFixed business investment rose struction costs leading to economies in
rapidly after it had been restricted to the use of structures. However, both
low levels during World War II. The facts and interpretations are uncertain
early upsurge gave way to a more here. The distinction between strucgradual rise to 1956-57, with dips in tures and equipment is not always
the 1949 and 1954 recessions and also meaningful and easy to establish.
in 1952. Subsequently, there were Also, as explained below, there is some
two more cyclical reductions—in 1958 doubt as to the validity of the indexes
and (in terms of the annual figures) that indicate the much more rapid rise
1961, and the 1957 peak was not of construction prices; to the extent
regained in physical terms.
that they are incorrect the lag of investThe broad postwar movements are ment in structures is exaggerated by
similar for investment in equipment the constant-dollar figures.
and in structures, except that the latter
lias shown a larger increase, in con- Meaning of "real" calculations
trast with its prior lag which will be
The calculation of the physical or
noted below.
Of the broad industrial groups real volume of equipment shown in the
distinguished, farm investment has table runs into difficulties when prodexpanded least, and investment in non- ucts of altered quality or new products
are introduced, because there is no
1. The series for gross investment in nonresidential strucobvious way to compare these with the
tures and equipment are the same as the "other construction"
ind "producers' durables" components of the GNP after
products that have been in use before.
farm residences have been deducted and second-hand assets
Since quality improvement and the
acquired by the private sector from Government added.
The estimates for manufacturing here presented differ from
introduction of superior new products
similar estimates regularly published as part of the national
are particularly important features of
income tables mainly in that no adjustment has been made
in the present estimates to the "industrial buildings" comcapital goods in our economy, it is
ponent of the official construction statistics which is here
important to understand how these
taken as measure of manufacturing investment in structures.
Capital stock was substantially reduced.
For structures these tendencies have
continued throughout the postwar period, although at a somewhat attenuated rate. In the case of equipment,
however, there has been a substantial
deterioration in both of these measures
in recent years. However, this deterioration was from the uniquely favorable conditions that were reached at
the crest of the postwar boom; as
compared with 1929 the indicators of
the current age structure of fixed
business capital show no consistent
change.
November 1962
difficulties are handled and the equivalence between the new and improved
products and their predecessors is
established. In essence, one unit of the
new product is considered as equivalent
to one unit of the old product times the
ratio of the cost of the new product to
that of the old product in an overlap
period. (If an actual overlap period
does not exist a hypothetical comparison is undertaken.) For instance, if
a new model of a machine is introduced
which costs $11,000, as compared with
$10,000 for existing machinery of the
unimproved type, it will be construed
to represent 10 percent more real
volume.
In other words, as a general proposition, better quality is counted as increased physical volume to the extent,
and only to the extent, that it is reflected in higher real resource cost.
This procedure is on all fours with the
general treatment of different quality
grades in real product measurement—
a $20 shoe is considered twice as much
production as the $10 variety selling at
the same point in time.
Table 1.—Gross Fixed Business Investment,
Selected Periods 1927-61
[Billions of constant (1954) dollars]
Age
1927-29 1943
average
1947
1957
1961
Total
Structures
Equipment
21 9
11.8
10 0
9.3
2.4
6 9
32 8
9.9
23 0
40.4
15.7
24 7
36 8
15.6
21 1
Farm
Structures
Equipment
1.6
.4
1.2
1.1
.3
.9
3.3
.7
2.6
2.8
.6
2.2
2 8
6
2. 2
Manufacturing
Structures
Equipment
4.6
2.1
2.5
2.9
.3
2.6
8.7
2.5
6.2
10.5
3.0
7.5
8.4
2.3
6.1
Other
Structures
Equipment
15.6
9 3
6.3
5.3
18
3.4
20.8
6 7
14.2
27.1
12 1
15.1
25.6
12 7
12. 9
Source: U.S. Department of Commerce; Office of Business Economics.
This is not the place to discuss in
detail the relative advantages and disadvantages of this procedure—the only
general procedure for volume measurement that is available at present. It
probably yields satisfactory measures
when the aim is to analyze changes in
the productivity (i.e., output relative to
input) of capital over time. This could
not be done if changes in the quality
(productivity) of capital were included
in measuring its real volume. However, when the aim is to get at a measure
of productive capacity, the present
November 1962
techniques are not satisfactory because
identical amounts of real capital as now
measured will represent different capacities to produce goods and services over
time; alternative measures would be
desirable if they could be obtained.
As mentioned earlier, the constantdollar estimates of construction are
subject to a special limitation. The
construction cost indexes available to
correct the current-dollar series for
price change refer generally to the
prices of construction inputs—labor
and materials—rather than to outputs.
As a result the constant-dollar estimates tend to reflect the physical
volume of inputs rather than of outputs. In other words, the estimates do
not allow for increases in the productivity of the resources producing structures. This situation, it should be
noted, differs from that described for
equipment. In that case straightforward changes in productivity that
result in more units of the same type
of machinery are adequately reflected
in the physical volume measure.
Difficulties arise only if there occurs a
change in the type of item produced.2
There is no information available
to judge the quantitative effects of
the statistical procedures that have
been outlined. However, in the discussion which follows, an attempt will
be made to qualify the conclusions to
allow for possible bias in the constantdollar structure estimate.
Gross Stocks of Capital
The investment figures discussed
earlier are very helpful in the analysis
of fluctuations and trends in economic
activity. However, as in the case of
other durable goods, proper interpretation of series on sales and purchases
requires information on stocks.
Actual data on stocks of fixed capital
are deficient, and in the present report, as in many other studies, indirect procedures are used to derive
them. The essence of these procedures
is to calculate stocks by applying
information on the economic service
lives of structures and equipment to
the annual investment estimates. For
instance, if a capital good was produced in year 1 and is thought to have
a lifeforofFRASER
10 years, it will be counted
Digitized
SURVEY OF CURRENT BUSINESS
11
Table 2.—Gross Stocks of Fixed Business Capital,* Selected Years, 1929-61
[Billions of constant (1954) dollars]
Based on Bulletin F lives
Total
Structures
Equipment
Farm
Structures
Equipment
Manufacturing
Structures
Equipment
Other
Structures Equipment
___
Based on lives 20 percent shorter
1929
1945
1949
1953
1957
1961
1929
1945
1949
1953
1957
408
286
123
50
34
15
84
47
36
275
204
71
393
272
121
52
34
18
86
47
38
255
191
65
459
280
179
62
36
26
105
52
53
292
192
100
537
303
234
73
39
34
125
54
71
339
210
129
636
342
293
79
40
39
148
60
88
409
242
167
679
363
316
85
42
43
164
62
102
431
259
171
348
250
98
43
31
12
70
41
30
235
179
56
316
215
101
45
30
15
68
37
31
203
148
55
387
234
153
51
30
21
89
42
47
246
162
84
452
248
204
60
31
29
105
43
62
288
174
114
509
264
245
66
33
33
125
49
76
318
183
135
1961
532
287
245
65
34
32
129
49
80
338
204
134
*At year-end.
Source: U.S. Department of Commerce, Office of Business Economics.
as an element of the gross capital
stock for the years 1 through 10. The
series of gross capital stocks shown
here have been derived by this
method—specifically by applying appropriate lifetimes to the investment
series summarized in table 1. (These
series have been extended backward
far enough to account for all elements
of the capital stock beginning with
the end of the year 1928.)3
Unfortunately, knowledge of economic lives cannot be firm in an economy
such as ours in which, in addition to
routine physical wear and tear, obsolescence enters as a major determinant.
In the chart and table two variants
are accordingly presented. One of
them is based largely on lives published
in the Internal Revenue Service's
Bulletin F (1942 edition). Inasmuch
as it seems to be the prevailing feeling
that these Bulletin F lives are generally
too long, an alternative set of estimates
assuming 20 percent shorter lives is
also presented. This approximates
closely the lives actually used by business in their accounting for tax purposes, as can be judged from the
Treasury Depreciation Survey of 1959.4
(Actual practice, it may be noted, up
to now has been based upon service
lives for equipment that are substantially longer than those suggested
in the Depreciation Guidelines and
2. The following example may serve to clarify these points.
Assume that the physical input of labor and materials is
unchanged from period I to II, and that their unit price moves
from 100 to 120 on an index number basis. Assume also
that the physical volume of output increases 50 percent as a
result of improved efficiency. The price of output is shown
to decline from 100 to 80 (the same as unit costs, i.e., 120
divided by 150). This is on the reasonable assumption that
the change in profits is roughly parallel to that of cost, and
that to the extent that this assumption is not fully met, the
proportion of profits to costs is not large enough to influence
significantly the movement of the output price index. The
total value of production rises 20 percent. If total values
are deflated by the labor and materials cost index, the
deflated value will show no change, i.e., the change in output
per unit of input will not have been taken into account.
This is an illustration of the procedure underlying the present
construction estimates. If, on the other hand, the above
example is taken to refer to producers' durable equipment, we
have price indexes referring to output, and the deflated
figures will show an increase of 50 percent. This is a correct
reflection of the change in physical output, apart from possible changes in the quality of the product from period I
to period II.
Period
I
II
(Index numbers)
Labor and materials:
Physical input
100
100
Unit prices
100
120
Output:
Physical output
100
150
Unit prices
100
80
Value
100
120
Value deflated by —
Labor and materials cost index
100
100
Output Drice index
100
150
The construction cost indexes have been reviewed recently
in Appendix B of Government Price Statistics, Hearings before
the Subcommittee on Economic Statistics of the Joint
Economic Committee, Congress of the United States, 87th
Congress, First Session, Part 1, January 24,1961, Washington,
D.C. This document also discusses the general problem of
quality change. A basic paper analyzing the latter problem
is E. F. Denison: "Theoretical Aspects of Quality Change,
Capital Consumption, and Net Capital Formation," in
Problems of Capital Formation, Studies in Income and Wealth,
Vol. 19, Princeton, 1957. See also National Income—1954
Edition, page 156.
3. It should be noted that in the calculations summarized
in this report—as well as in the first of the references cited
in footnote 6—dispersion of retirements around the average
service life has been neglected. Further studies will establish the effect of this on the calculations of gross capital
stocks and related magnitudes. For a theoretical treatment
of this topic, see Eric Schiff's note in the May 1958 issue of
the Review of Economics and Statistics.
4. Detailed calculations indicated a somewhat larger reduction of lives as compared with Bulletin F for structures
and a somewhat smaller reduction for nonfarm nonmanufacturing equipment. However, it was decided to disregard the differential for structures on the ground that it
probably reflected the shorter lives of "additions and alterations," which are not specifically dealt with in Bulletin
F and which, in all probability, are to a substantial extent
omitted from the investment estimates. The differential
for nonfarm nonmanufacturing was discounted, because it
was well within the range of error of the estimates. The 20
percent reduction for farm structures and equipment was an
arbitrary factor applied to the basic variant which in turn
was derived from Department of Agriculture studies.
SURVEY OF CURRENT BUSINESS
12
GROSS STOCKS OF FIXED BUSINESS CAPITAL
Broad Industry Groups Share in Postwar Expansion With Substantial
Differences in Amplitude and Timing
Billion 1954 $ (ratio scale)
900
800
ratio scale)
Billion 1954
$
200
TOTAL
MANUFACTURING
150
Total, F
600
100
400
80
, -20
60
-es, F
200
150
30
100
90
100
FARM
To/a/, F
80
50
40
Equipment, F
30
Structures, -20
f,, -20
20
10 1 1 I 1 1 1 1 1 I I I ! t ! I I I I I I i
1945
50
55
60
65
60
65
F — Bulletin F Lives (see technical appendix)
-20 * Lives 20 Percent Shorter
U.S. Department of Commerce, Office of Business Economics
62-11-7
November
Rules issued last July by the Treasury
Department.)
Tliis alternative should not be taken
as our estimate of "true" economic
life. But it commends itself on the
ground that it is close to actual tax
practice for depreciation.5 The variant
based on Bulletin F is included to
provide a feel for the direction and
extent to which the calculations are
affected by changes in the assumptions,
and to furnish a bridge to past calculations based on similar methods which
have generally utilized Bulletin F
lives.6 As explained in the appendix,
the study underlying this report presents alternative series based on lives
10 percent, 20 percent, and 40 percent
shorter and longer than Bulletin F
lives.
Another limitation of stock figures
derived by these techniques should be
noted. The service lives used to translate gross investment into stock figures,
even if correct on the average, will not
hold invariably from year to year.
For instance, during World War II,
when investment was restricted, existing equipment continued to be used
beyond its normal, average life. Accordingly, the stock figures shown in
this report should not be interpreted
as showing precisely the year-to-year
changes. Also the calculations are
necessarily based on the assumption
that average lives have been constant
in the long-run. There is little information on changes over time in the
average service lives of the various
types of structures and durable equipment.
5. We do not know how closely practice for tax purposes
conforms to the pattern of actual retirements.
6. The results of this study have been compared with the
estimates of R. W. Goldsmith published in The National
Wealth of the United States in the Postwar Period, Princeton,
1962, and of the Machinery and Allied Products Institute
(MAPI) published in 60 Years of Business Capital Formation, Washington, 1960. As expected, the three sets of figures
differ widely as to detail. With respect to broad trends the
OBE variants chosen for analysis in this report indicate
a somewhat faster tapering in the postwar growth rates for
nonfarm equipment and a more rapid deterioration in the
net-gross equipment stock ratios. (See below.) Preliminary
investigations suggest that much of these differences stem
from the fact that the OBE variants selected are based on
shorter service lives than the Goldsmith and MAPI estimates. Differences between Goldsmith's and OBE's figures
on farm capital are due mainly to differences in the assumed
service lives.
November 10C2
SURVEY OF CURRENT BUSINESS
Growth in the postwar period
For structures the postwar increase
amounted to about one-third. For
As can be seen from the chart on equipment it was about one and onepage 12 and table 2, gross stocks of half—somewhat less on the basis of
fixed business capital increased by the shorter life assumption and somealmost three-fourths over the postwar what more on the basis of the longer
period, with the rate of increase taper- one. This is in contrast to the relative
ing very sharply in the latter part of roles of structures and equipment in
it. On the basis of the shorter life postwar investment, and results from
assumption, stocks increased at an the fact that the ratio of initial stocks
average annual rate of about 4% per- to the subsequent investment was
cent from 1945 to 1953, 3 percent inhigher for structures than for equipthe next 4 years, and 1 percent from ment.
1957 to 1961. According to the longer
Both versions show that the tapering
life assumption, the tapering set in a in the rate of growth of the total is
little later and was a little less pro- traceable mainly to equipment. Again
nounced.
dividing the entire postwar period
into
equal spans of 4 years, gross
Table 3. —Average Percent Annual Rates of
Increase in National Output and Stock
equipment stocks appear to have inof Fixed Business Capital, 1929-61
creased at yearly rates of about 10
[Based on constant 1954 dollars]
percent
and 7 percent during the first
Gross National or Business Product : l
two of these periods, respectively.
Specific deflators___________________________________2. 9
GNP deflators for construction ___________________ 3. 0
Using
the shorter life assumption, the
Net National or Business Product: l
rate dropped to 5 percent for 1953-57,
Specific deflators__________________________________3. 0
GNP deflators for construction___________________3. 0
and no further increase in equipment
Gross Stocks, based on—
stocks occurred during 1957-61. On
Bulletin F lives:
Structures, based on
the basis of the longer life assumption,
Specific deflators_________________________.8
GNP deflators____________________________1.5
the rate dropped to 6 percent and 2
Equipment_____________________________________3. 0
Structures and equipment, based on
percent, respectively, in the 1953-57
Specific deflators___________________________1.6
GNP deflators f < >r structures ______________ 2.2
and 1957-61 periods.
Lives 20% shorter:
For farm stocks the indicated inStructures, based on
Specific deflators___________________________.4
crease is a little smaller than for gross
GNP deflators_____________________________1.3
Equipment__________________________________________2.9
stocks as a whole; this is due mainly
Structures and equipment, based on
Specific deflators____________________________1.3
to the equipment component. Beyond
GNP deflators for structures______________2.0
Net Stocks, based on—Bulletin F lives, straight line depreciation :
Structures, based on
Specific deflators___________. _______________ . 7
GNP deflators __________
1. 7
Equipment
2. 8
Structures and equipment, based on
Specific deflators
1.5
GNP deflators for struct tires
2. 2
13
this, there are considerable differences
between the results of the two alternative calculations, the one based upon
shorter lives indicating less expansion.
Both series show a slackened rate of
increase as the period progresses. This
reflects mainly the equipment component and is more pronounced in the
series based on the shorter lives. The
farm structure component is derived
from a gross investment series that is on
a less firm statistical basis than the
other components, and too much reliance should not be placed on its precise movement.
In manufacturing, gross stocks appear to have almost doubled since the
beginning of the postwar period, with
stocks of structures increasing one-third
and equipment stocks more than one
and one-half times. Again a slackening
in the rate of increase is evident, and
is more pronounced in the variant based
upon the shorter lives.
Gross stocks in nonfarm industries
other than manufacturing increased
about two-thirds, with structure stocks
increasing more than one-third and
equipment stocks about one-half—
somewhat less for equipment if the
shorter and somewhat more if the longer
life variant is used. As in the case
of farms and manufacturing, the rate
of increase is seen to slacken in both
COMPOSITION OF GROSS FIXED BUSINESS CAPITAL STOCKS
At End of 1961
Bulletin F lives, double declining depreciation:
Structures, based on
Specific deflators _ . _ . _ _______________ .8
GNP deflators______________________________1.8
Equipment______________________________________2.8
Structures and equipment, based on
Specific deflators___________________________1. 5
GNP deflators for structures_______________2. 2
Lives 20% shorter, straight line depreciation:
Structures, based on
Specific deflators_________________________.8
GNP deflators____________________________1.9
Equipment_____________________________________2.7
Structures and equipment, based on
Specific deflators_________________________1.5
GNP deflators for structures_______________2.2
Lives 20% shorter, double declining depreciation:
Structures, based on
Specific deflators ___________________________
.8
GNP deflators ____________________________
1.9
2. 7
Equipment ___________________________________
Structures and equipment, based on
Specific deflators __________________________
1.4
2. 2
GNP deflators for structures ______________
1. Over this period percent growth rates for National Prod"
uct and Business Product (i.e., National Product less product originating in households and institutions, government,
and in the rest-of-the-world sector) both round to the same
figure in tenths of percents. Also percent growth rates for
Net Product calculated for the four permutations of Buletin F lives, lives 20 percent shorter, straight line depreciation, and double declining balance depreciation round to
the same figures in tenths of percents.
Source: U.S. Department of Commerce, Office of Business
Economics.
Note: Based on constant (1954) dollars, and Bulletin F(1942 edition) or 20 percent snorter lifetime variant.
U.S. Department of Commerce, Office of Business Economics
62-11-a
14
versions; this is more pronounced in
the one based on shorter lives; and is
traceable mainly to equipment.
Viewing the entire period since 1929,
total gross stocks appear to have declined during the great depression and
through World War II until 1944,
before commencing their postwar upsurge. Over the period as a whole,
their rate of growth appears to have
been about one-half of that of total
output. (See table 3.) The behavior
of equipment and structure stocks was
very different. Equipment stocks were
about the same at the end of the war
as they had been in 1929, and their
average rate of growth from 1929 to
date has been close to that of output.
The volume of structures, on the other
hand, appears to have declined from
1929 to 1944, and the subsequent rise
did not bring it back to its previous
relation to production.
Possible
changes in the rate of utilization of
fixed business capital are not taken into
account in these statements.
Valuation of structures
As in the case of gross investment,
the indicated lag for structures is based
upon calculations that do not take into
account increased productivity per unit
of labor and material input in construction. To the extent that this assumption is in error, the lag in structure
stocks has been exaggerated in the
calculations.
Unfortunately, it is not possible to
resolve this issue on the basis of present
knowledge. However, an alternative
calculation has been made, assuming—
rather arbitrarily—that changes in the
average prices of nonresidential structures have paralleled those of gross
national product produced in the nonfarm private business system.
On the basis of this assumption, the
contours of the story are substantially
changed. Briefly, the increase in business structures during the postwar
period is more than twice that shown
by the prior versions, and as a result
the total of structures and equipment
combined appears to have approximately doubled. The tapering in the
rate of postwar growth of the total
capital stock continues to be visible in
this set of calculations as well.
SURVEY OF CURRENT BUSINESS
November 1962
The increase in stocks of structures as NET STOCKS OF FIXED BUSINESS CAPITAL
Rapid Growth of Equipment Slows During
compared with 1929 is more substantial
Postwar Period
in this set of calculations than in the
Expansion of Structures Was Slower but
Continues at Steady Rate
earlier ones. However, the indication
persists that the stock of equipment has Billion $ (ratio scale)
expanded much more rapidly, and that 400
TOTAL
the growth of total capital stocks has
F, SL
been substantially below that of total 300
output. (See table 3.)
In other words, whatever reasonable
alternative assumptions we use when
the true facts are not known to us, 200
certain broad patterns continue to
-20, DD
appear. But it is apparent that in this
KEY TO SYMBOL'S
field of capital stock measurement we
F, SL = Bulletin F lives,
cannot claim quantitative precision
straight line depreciation
even though we state our results in
F, DD = Bulletin F lives,
terms of numbers; the best that we can 100
double declining balance
hope for at present is to perceive the
depreciation
general direction of some broad trends.
— 20, SL — lives 20 percent
The chart on p. 13 shows the composhorter, straight line
depreciation
sition of the Nation's capital stock in
1961. As compared with a similar
-20, DD - lives 20 percent
shorter, double declining
calculation for 1929, the proportion of
balance depreciation
equipment to structures is higher and
the share of manufacturing in the total
appears to have increased somewhat at
the expense of all other nonfarm indus- 250
STRUCTURES
tries taken together. This is in accord 200
with the increased share of manufacturF, SL
ing in total national output; 7 manu150
facturing's share in the total number of
persons engaged in production has
declined over this period.
The chart, it will be noted, is based 100
»
/
•• \
-20, SL .•*
\
on the deflation of structures by con.••*
-20, DD
struction cost indexes. Their defla80
tion by overall GNP deflators would
yield a similar pattern of change as
compared with 1929 and a similar 60
picture for 1961, except that the 1961
share of structures in the total would be 200
EQUIPMENT
higher.
150
F, SL
Net Capital Stocks
In the measures of capital stocks that
have been reviewed, a unit of capital
asset is included at its full value during
the entire time that it remains in the
capital stock, up to the assumed date of
its retirement. For instance, an item
costing $10,000 in its year of acquisition
and remaining in the stock for 10 years will
be valued in the capital stock at $10,000
in each of these years—abstracting, for
the sake of simplicity, from price
7. Martin L. Marimont, "GNP by Major Industries,"
SURVEY OF CURRENT BUSINESS, October, 1962.
100
80
60
40
1945
50
55
60
U.S. Department of Commerce, Office of Business Economics
65
62-11-9
November 1962
SURVEY OF CURRENT BUSINESS
changes. These "gross" measures of
capital stocks are useful for many purposes. However, an alternative set of
"net" measures can be calculated as
being more relevant to others.
Underlying these net measures is a
concept of capital as a sum of productive
services stored up for future use. For
instance, the $10,000 item just referred
to is regarded as a sum of productive
services that will be used up over the
life of the capital asset, as it is employed
jointly with labor and other economic
resources to produce goods and services.
If this view of capital is taken, a given
structure or equipment item does not
represent an invariant value sum over
its entire life, but a diminishing sum as
the productive services inherent in it
are gradually exhausted. If, for example, we assume that these services
are used up in equal annual installments
the net capital represented by the
asset—i.e., the value of the productive
services that remains stored up—
declines from $10,000 at the moment
the item is installed to $9,000 a year
later, and so on.
Unfortunately, the calculation of the
value of productive services used up
each year—depreciation—further complicates our task. In the numerical
example just employed, it was assumed
that these services are used up in equal
installments—in technical parlance, that
depreciation follows the "straight line"
pattern. Partly because of its simplicity, the straight line formula is widely
used, but many believe that it is not
appropriate.8 They reason that, be-
cause of gradual physical deterioration,
the services yielded annually by a given
asset are larger in the initial period of
its operation and decline over its service
life; and that in the absence of other
information technological obsolescence
should be assumed to occur at an equal
percentage rate. This view of the matter
suggests an accelerated pattern of depreciation, according to which depreciation is highest in absolute amount when
the equipment is new and declines as
its age increases.
There is no general agreement among
the advocates of accelerated depreciation as to what particular pattern is the
most realistic; various formulas have
been suggested and are in use. One of
the most popular ones is the (double)
declining balance method of depreciation. According to this method, twice
the straight line rate of depreciation is
charged in the first year, and the same
rate is applied in succeeding years to the
remaining value of the equipment. In
our example, $2,000, or 20 percent, depreciation would be charged in the first
year, and the same percentage rate
would be applied to the $8,000 remaining value of the item, yielding depreciation of $1,600 during the second year,
and so forth.
The following calculations of net
capital stocks have been made on the
alternative assumptions of straight line
and double declining balance depreciation. This complicates the interpretation of the net stock figures as compared
with that of gross stocks. In addition
to considering two life assumptions (one
15
conforming most closely to existing
practice and one based on Bulletin F)
we must now take account of two further variants (straight line and declining
balance) under each of these headings.
Rise in the postwar period
It will be best to summarize developments with respect to net stocks (see
table 4 and the chart on p. 16) by reference to the generalizations already made
about gross stocks: Over the postwar
period, the increase in net capital stocks,
i.e., in productive services stored up for
future use, appears to have been somewhat larger than that in gross stocks,
i.e., in capital stocks without allowance
for the partial exhaustion of the services
they embody. The several net stock
variants examined all indicate approximate doubling as compared with the
three-quarter increase for gross stocks.
The increase of net stocks, like that
of gross stocks, has tapered sharply over
the postwar years. For the 1945-49
period, in which the initial postwar rebuilding occurred, the annual rate of
increase of the several variants averaged
about 8 percent. For the subsequent
4-year periods, all net variants showed
approximately identical annual rates of
growth of about 5 percent, 4 percent,
and 2 percent, respectively.
The net stock figures indicate a larger
increase for structures than do the gross
figures—from two-thirds to almost one
8. E.g., George Terborgh, Realistic Depreciation Policy,
Machinery and Allied Products Institute, Washington, 1954
Table 4.—Net Stocks of Fixed Business Capital,* Selected Years, 1929-61
[Billions of constant (1954) dollars]
Based on lives 20 percent shorter
Based on Bulletin F lives
Straight line depreciation
Declining balance depreciation
Straight line depreciation
Declining balance depreciation
1929
1945
1949
1953
1957
1961
1929
1945
1949
1953
1957
1961
1929
1945
1949
1953
1957
1961
1929
1945
1949
1953
1957
229
163
66
191
124
67
246
137
109
296
156
140
344
183
161
366
206
160
187
134
52
150
97
53
201
111
89
241
129
112
281
154
127
297
172
125
189
137
52
149
95
53
200
108
91
242
126
116
280
154
126
301
178
123
154
113
41
116
74
42
162
88
73
195
105
90
227
129
99
242
147
9f
28
20
8
27
17
10
34
18
16
40
19
21
42
20
21
41
21
20
23
16
7
21
13
8
28
14
13
33
16
17
33
17
17
33
17
16
23
17
7
21
13
8
27
14
13
33
15
17
33
16
16
31
17
14
19
13
5
16
10
6
22
11
11
26
13
14
26
14
12
25
14
11
Manufacturing
Structures
Equipment
47
27
19
44
22
22
59
26
34
71
28
43
83
33
50
89
35
53
38
23
16
35
17
18
49
21
28
58
24
34
68
28
40
72
29
42
39
23
15
35
17
19
49
21
28
58
23
35
68
28
40
72
30
42
31
19
12
28
13
15
40
17
23
47
19
28
55
23
32
2f
33
Other
Structures
Equipment
154
116
38
120
85
35
153
94
60
185
108
76
219
130
89
236
150
86
126
96
30
94
66
27
124
76
49
150
90
60
179
109
70
193
125
67
128
97
30
93
66
27
124
74
50
151
87
63
179
109
70
197
131
66
104
80
24
72
51
21
100
60
40
122
73
49
146
92
54
159
108
51
Total
Structures
Equipment
Farm
_, _ _
Structures
Equipment
_. -_
*At year end.
Source: U.S. Department of Commerce, Office of Business Economics.
19tU
57
16
hundred percent, depending on the variant selected, as compared with onethird for gross stocks. On the other
hand, the postwar expansion of net
equipment stocks is about 10 percent
less than the increase indicated by the
corresponding gross calculations.
As in the case of gross stocks, the
tapering in the rate of growth is traceable mainly to equipment. In particular, it can be seen for table 3 that all
variants of net equipment stocks are
about stationary after 1957.
The larger expansion of total net
stocks than of gross stocks, and the
larger role of structures in the net stock
expansion, is reflected industry-wise in
the comparative records of manufacturing and the nonfarm nonmanufacturing industries. It will be recalled
that structures constitute a relatively
larger part of total stocks of the latter
group as a whole. Fixed capital stocks
in nonfarm industries outside manufacturing appear to have doubled approximately in terms of the net concepts, as
compared with the two-thirds increase
indicated for gross stocks. Within
these broad groups, the contribution
of equipment was larger than that of
structures, as for gross stocks, but the
differential was much smaller.
It can be seen from table 4 that the
other points made in connection with
the description of the broad industry
pattern of the gross stock increase hold
generally for the net variants also.
If the period under review is extended back to 1929, total net stocks—
like gross stocks—appear to have declined through the 1930's and World
War II, but the extent of the decline
was somewhat more pronounced. The
decline indicated for the total reflected
the structure component; at the end
of World War II net stocks of equipment—again like gross stocks—appear
to have been about as large as in 1929.
As in the case of gross stocks, the postwar investment boom has served to
restore approximately the relation of
equipment stocks to total output that
obtained in the late 1920's. However,
the ratio of structure stocks, and consequently of total fixed capital, has not
been restored. (Table 3.)
As in the case of the similar conclusions regarding the gross capital-output
ratio, the structure figures have been
SURVEY OF CURRENT BUSINESS
derived from calculations that for deflation purposes utilized the construction
cost indexes whose possible shortcomings have already been noted. But if
overall GNP deflators are again substituted experimentally for the construction cost indexes, the broad conclusions regarding the relatively slow
growth of structure stocks, and the
consequent reduction of the capitaloutput ratio continue to hold, though
in a somewhat attenuated form—just
as in the case of the gross variants.
Substitution of overall GNP deflators for construction cost indexes substantially modifies also the picture of
the postwar increase in net stocks. As
in the case of the corresponding gross
calculations, the dimensions of the postwar boom appear to be larger, and the
share of structures in the total expansion is increased. But whereas for the
gross variants, equipment stocks continued to show a larger percentage expansion than structures on the basis
of the alternative deflation, in the case
of net stocks no consistent differential
between the indicated expansion of
structure and equipment stock remains,
the relative movement of the two components depending on the particular
depreciation variant used.
Composition of stocks in 1961
Finally, we comment on the composition of net capital stocks in 1961, as
contrasted with the composition of gross
stocks shown in the second chart. On a
net basis the share of equipment in the
total is somewhat lower than on a gross
basis—-between about 40 and 45 percent
of the total depending on the variant
adopted. The broad industry composition of the total is very similar for
all variants of net stocks, and similar in
turn to that of gross stocks. As compared with similar breakdowns for 1929,
the share of net equipment stocks has
increased; and so has the share of manufacturing at the expense of nonfarra
industries outside manufacturing. It
will be recalled that similar changes
were indicated by the percentage distribution of gross stocks.
It is interesting to note that the percentage distributions of net stocks for
1929 and 1961 are not changed by the
substitution of overall GNP deflators
November 19(>2
RATIOS OF NET TO GROSS CAPITAL STOCKS
Leveling Reflects Reversal of Postwar
Rise for Equipment
Ratios for Structures Continue Up
Percent
70
TOTAL
60
50
40
-20, DD
KEY TO SYMBOLS
F, SL = Bulletin F lives,
straight line depreciation
30
F, DD - Bulletin F lives,
double declining balance
depreciation
20
-20, SL = Lives 20 percent
shorter, straight line
depreciation
10
0
70
-20, DD = Lives 20 percent
shorter, double declining
balance depreciation
1 1 1 I I 1 I I I I I I I I I I l I I I
STRUCTURES
60
F, SL
50
40
30
70
I I I I I I I I I I 1I I I
I
f
EQUIPMENT
F, SL
60
50
40
30
-20,00
I I 1 I I I I I I 1 1 1 I 1 I 1 1 I ( t I
1945
50
55
60
Based on Constant (1954) Dollars
U.S. Department of Commerce, Office of Business Economics
65
62-11-10
SURVEY OF CURRENT BUSINESS
November
17
Table 5.—Katios of Net to Gross Stocks of Fixed Business Capital, Selected Years, 1929-61
[Percentages based on constant (1954) dollars]
Based on lives 20 percent shorter
Based on Bulletin F lives
Declining balance depreciation
Straight line depreciation
Declining balance depreciation
Straight line depreciation
1929
1945
1950
1953
1957
1961
1929
1945
1950
1953
1957
1961
1929
1945
1950
1953
1957
1961
1929
1945
1950
1953
1957
56.1
57.1
53.7
48.6
45.6
55.4
54.3
49.7
61.1
55.2
51.7
59.8
54.1
53.6
54.8
54.0
56.8
50.7
45.7
47.0
42.7
38.2
35.5
44.1
44.2
40.5
49.7
44.9
42.8
47.7
44.2
44.9
43.3
43.8
47.4
39.7
54.4
54.8
53.2
47.0
44.3
52.8
52.3
46.8
60.3
53.5
50.8
56.7
55.1
58.2
51.6
56.5
62.1
50.0
44.1
45.0
41.7
36.7
34.4
41.4
42.3
38.4
48.0
43.2
42.3
44.2
44.6
48.7
40.2
45.5
51.4
38.6
Farm
_ _ _ _ _ 56.9
Structures
58.0
Equipment
54.3
51.0
48.5
56.0
54.7
49.6
61.2
55.5
50. 5
61.2
52.8
50.4
55.4
48.9
50.3
47.6
46.0
47.1
43.6
40.3
38.0
44.7
44.8
40.1
50.8
45.2
41.4
49.4
42.4
41.7
43.1
39.3
41.7
36.9
53.4
53.3
53.6
46.2
42.9
52.9
54.1
48.1
61.6
54.7
50.0
59.8
49.6
50.3
48.9
48.1
50.3
45.8
42.8
42.9
42.5
36.2
33.5
41.5
44.0
39.1
50.2
44.1
41.4
47.0
39.5
41.9
37.2
38.7
42.0
35.2
Manufacturing
56.2
58.3
Structures
Equipment-. _ _ _ . _ _ _ 53. 3
51.5
46.5
57.7
56.1
49.7
61.9
56.8
52.6
60.1
56.3
55.0
57.2
54.2
57.0
52.6
45.8
48.2
42.6
41.3
36.6
47.2
45.8
40.7
50.5
46.3
43.5
48.5
46.0
46.1
45.9
43.8
47.2
41.8
54.9
57.6
51.2
51.5
44.9
59.3
54.9
49.1
59.8
55.6
53.5
57.1
54.7
57.3
53.0
55.8
61.6
52.3
44.4
47.3
40.5
41.0
35.3
47.8
44.3
40.3
47.7
44.8
44.3
45.2
44.2
47.8
42.0
44.6
50. 5
41.0
Other _ - _
Structures
Equipment
47.1
44.8
53.8
53.5
49.7
60.6
54.5
51.6
59.2
53.6
53.7
53.4
54.8
57.8
50.4
45.7
46.8
42.5
36.7
34.8
42.1
43.5
40.5
49.1
44.4
42.8
46.9
43.9
45.1
42.1
44.7
48.4
39.2
54.4
54.4
54.2
45.7
44.4
49.1
51.0
46.0
60.3
52.4
50.3
55. 6
56.3
59.9
51.6
58.4
64.2
49.6
44.2
44.9
42.1
35.3
34.4
37.8
41.2
37.8
47.6
42.4
42.0
43.0
45.9
50.2
40.0
47.1
53.1
37.9
Total
Structures
Equipment
_
_ ..
55.9
56.6
_ 53.7
for construction cost indexes in the
computation of structure stocks.
1961
Table 6.—Mean Age of Stocks of Fixed Business Capital, Selected Years, 1929-61
[Based on Constant (1954) dollars]
GROSS STOCKS
Age of Capital Stocks
Obvious interest attaches to the age
structure of our capital stock and it
components. Information of this type
is essential for gaging the extent to
which the stock is up-to-date both in
terms of physical condition and technological characteristics.
No analysis will be made in this report
of the detailed age distribution data
that are part of the complete study
underlying this summary report. Instead two sets of measures which summarize the central tendencies in these
age-distributions will be presented.
The first of these, shown in table 5,
gives the ratios of the net stocks of
capital to the gross stocks, for the
several variant definitions distinguished
so far. An alternative set of measures,
presented in table 6 for the same
variants, is the mean age of the capital
stock and its components.
These two sets of measures can be
used interchangeably for many purposes, but each of them also provides
specific information. Thus, the ratios
show the relative extent to which the
services initially embodied in capital
goods remain intact—on the assumption that the purchase price is a measure
of the value of the services bought
initially and that depreciation reflects
the value of the services that have been
used up. This type of information is
not provided by the average-age meas
IWim>4°—62
3
Based on lives 20 percent shorter
Based on Bulletin F lives
Total
Structures Equipment
__
Farm__
_ _
Structures
Equipment
_
Manufacturing
Structures
Equipment
-_
__
_
_ .
Other
Structures
Equipment
1929
1945
1950
1953
1957
1961
1929
1945
1950
1953
1957
14.7
18.8
6.7
18.5
23.6
6.6
15.6
22.1
5.7
14.4
21.4
5.9
14.0
20.4
6.6
13.6
19.0
7.2
13.1
15.7
5.2
15.3
19.9
5.2
a.
18.3
4.4
11.6
17.0
4.8
10.6
15.0
5.4
10.0
13.8
5.6
28.4
37.7
7.3
33.1
46.5
7.1
28.2
45.4
6.2
26.6
44.6
6.2
26.4
44.7
7.1
26.2
44.7
8.4
25.7
33.5
5.6
29.3
41.2
5.7
22.8
37.5
4.6
20.9
36.0
4.8
20.7
35.8
6.1
21.5
35.7
6.5
12.9
16.7
7.9
15.0
21.4
7.2
12.9
20.1
6.5
12.0
19.0
6.8
11.6
17.9
7.3
11.5
17.2
8.1
10.5
13.6
6.3
12.0
17.6
5.3
10.3
16.3
5.2
9.4
14.9
5.6
9.0
13.6
6.1
8.5
12.3
6.2
13.2
15.6
6.0
16.4
19.8
6.0
13.5
18.1
5.1
12.8
17.4
5.3
12.4
16.7
6.1
11.7
15.2
6.4
11.1
13.2
4.6
13.1
16.1
5.1
11.6
15.6
4.0
10.5
14.4
4.4
8.7
11.6
4.8
8.2
10.4
5.0
1961
NET STOCKS
Based on Bulletin F lives
Straight line depreciation
Total ..
__
Structures _
Equipment
-
Farm
Structures
Equipment
_
-
- _
Manufacturing
Structures
Equipment
Other _
Structures
Equipment
___ .__
Declining balance depreciation
1929
1945
1950
1953
1957
1961
1929
1945
1950
1953
1957
10.0
12.3
4.5
12.4
17.0
4.4
9.6
14.7
3.8
9.0
13.1
4.2
8.3
11.3
4.6
8.1
11.1
4.9
9.2
11.4
4.1
11.7
16.3
4.0
8.6
13.3
3.5
8.3
11.8
3.8
7.6
10.4
4.2
7.4
10.3
4.6
20.9
27.9
4.8
23.7
35.0
4.8
18.2
31.6
3.9
16.8
29.9
4.3
16.7
28.6
5.4
16.9
27.8
5.9
19.8
26.1
4.4
22.5
33.3
4.4
16.5
29.3
3.6
15.2
27.3
4.0
15.5
25.9
5.0
16.0
25.5
5.4
8.7
11.1
5.3
9.8
15.3
4.5
7.9
12.9
4.5
7.5
11.8
4.7
7.3
10.6
5.1
7.6
10.7
5.4
8.0
10.2
4.9
9.1
14.4
4.1
7.3
11.8
4.1
7.0
10.7
4.4
6.7
9.6
4.7
7.0
9.9
5.0
8.8
10.3
4.0
11.4
14.3
4.3
8.6
12.0
3.4
7.9
10.8
3.8
7.3
9.3
4.1
7.3
8.9
4.4
8.0
9.4
3.6
10.7
13.5
3.9
7.8
10.9
3.1
7.2
9.7
3.5
6.6
8.6
3.8
6.7
8.2
4.1
1961
Based on lives 20 percent shorter
Straight line depreciation
Total
-_
Structures
Equipment
-
Farm
Structures-. _
Equipment
-
_ _ _ _ _ _
IVIanufacturing
Structures
Equipment
Other
Structures
Equipment.-
_ ._
Declining balance depreciation
1929
1945
1950
1953
1957
1961
1929
1945
1950
1953
1957
8.7
10.2
3.5
10.2
14.2
3.5
7.5
11.3
3.1
6.8
9.9
3.5
6.3
8.7
3.6
6.6
8.9
3.8
7.7
9.5
3.2
9.5
13.5
3.2
6.9
10.1
2.8
6.3
8.9
3.2
5.7
8.0
3.3
6.1
8.2
3.5
18.2
24.0
36
19.6
29.3
3.8
13.9
25.2
3.0
12.9
23.2
3.5
13.1
22.0
4.4
13. 3
21 2
4^3
17.3
22.7
3.3
18.6
27.9
3.6
12.7
23.2
2.7
11.9
20.9
3.3
12.3
20.0
4.1
12.3
19. 4
4.0
7.1
9.1
4.1
7.8
12.4
3.6
6.2
9.8
3.7
5.9
8.9
3.9
5.6
8.1
4.0
6.0
8.6
4.2
6.6
8.3
3.7
7.2
11.6
3.3
5.7
9.0
3.4
5.4
8.1
3.6
5.3
7.4
3.7
5.6
8.0
3.9
7.1
8.3
3.1
9.5
12.0
3.4
6.5
9.2
2.7
5.9
7.9
3.2
5.5
6.9
3.2
6.0
7.3
3.4
6.8
7.6
2.8
8.9
11.3
3.1
6.0
8.3
2.5
5.4
7.1
2.9
5.1
6.4
2.9
5.5
6.8
3. 1
1961
SURVEY OF CURRENT BUSINESS
ures. In contrast, the latter provides
information on absolute age not proTided by the net-gross ratios.
Two other examples of the partial
Independence of the two measures may
be given. Consider, for instance, a
shift in the capital stock towards items
having a longer service life, but assume
also that the proportion of services
stored up in the gross stocks are and
remain the same for all t}7pes of capital
equipment. In these circumstances,
the average age of the capital stock will
increase, but the net-gross ratios will
show no change. While this example is
artificial, in the sense that the assumptions underlying it are not likely to
hold in any real situation, it does bring
out an important difference between the
two measures, and indicates that a
choice may have to be made between
them depending on the nature of the
proposed analysis.
Another instance in which the two
measures may point in different directions should be noted: Even for items
of uniform service life, it is entirely
possible for the net-gross ratios to
increase (decrease) and for the average
age of the capital stock to increase
(decrease) at the same time, and although the first impression is that this
cannot occur.
If the straight line method of charging depreciation is employed, a movement in the same direction of net-gross
ratios and of the average age of net
capital stocks is possible essentially
because we are dealing with two averages that are weighted differently.
The net-gross ratios can be seen to
involve the assignment of gross value
weights to the ages of the various items;
in the average-age calculations for net
stocks the corresponding1 weights are
net (depreciated) values.
If, in addition, we depart from
straight line depreciation, further opportunities arise for seemingly inconsistent movements of the net-gross ratios,
on the one hand, and of the averageage figures, on the other. These stem
from the fact that with alternative
methods of depreciation, the net-gross
ratios for individual items are no longer
inversely proportional to the ratios of
their a«;e to their total service life.
Changes in
capital
the
age structure
of
In summarizing the information relating to net-gross ratios in table 5 and
the fourth chart, we shall concentrate
on changes in these ratios rather than
on their levels. With respect to the
latter, it will be sufficient to note that
in the case of straight line depreciation
significance attaches to the 50 percent
figure. This is the figure that would
be reached in stationary conditions in
which new investment just equaled the
capital goods used up. For the double
declining method of depreciation the
corresponding ratio is significantly lower
and depends on the length of the service
life. For a service life of 10 years the
ratio is approximately 38 percent, for
service lives of 20 and 40 years it is about
a percentage point higher.9
Common to all the variants shown in
table 5 is a rapid improvement in the
net-gross ratios for equipment in the
early part of the postwar period and a
subsequent decline of substantial proportions. This pattern of the equipment calculations for the business
system as a whole is repeated also in the
equipment series for the major industry
groups. With near unanimity the alternative variants indicate that the most
recent net-gross ratios are below those
that obtained at the end of World War
II. As can be seen from table 5, current
equipment stock ratios appear to be a
little below those obtaining in 1929.
Net-gross ratios for structures follow
a pattern that is quite different. According to all variants shown here, the
November 1962
improvement from the low ratios at the
end of World War II has continued
throughout the postwar period, and
these ratios are now higher than those
of 1929 for the shorter life variant. As
in the case of equipment, the overall
pattern is reflected in that of the several
groups.
The net-gross ratios for equipment
and stocks combined represent an average of the separate ratios, the postwar upsurge being followed by a period
of relative stability. There seems to be
little change from 1929 in the overall
ratios.
Table 6 presents calculations of the
average age of structures and equipment
for the variant concepts shown in table
5. Perspective is gained if these figures
are compared with the total service
lives of structures and equipment as
given in table 7 (technical appendix).
The story told by these average-age
series is of course very similar to that
conveyed by the net-gross ratios: A
marked reduction in the average ages
of both structures and equipment in the
early postwar years was followed for
structures by somewhat more moderate
improvement during the remainder of
the period. Equipment stocks, on the
other hand, have aged in recent years.
Combined ages have continued to fall,
reflecting the larger weight of structures.
The separate patterns of the three broad
industry groups appear to have been
quite similar.
9. It should be noted that the exact numbers depend on
the method that is adopted to ensure that the entire value of
the capital asset is depreciated over its assumed service life.
Table 7.—Service Lives in Years, Corresponding to Seven Alternative Assumptions, by
Industry Group, and Type of Asset
Nonfarm
residential
structures
Farm
Nonfarm, excluding
manufacturing
Manufacturing
Alternative
assumptions
Equip- ! Nonresi ment
dential
structures
Equipment
Nonresi dential
structures
Residential
structures
Nonresi| dential
structures
Equipment
40 percent 1 onger
70
24
56
18
50
23
126
20 percent longer
60
21
48
16
43
19
108
10 percent longer
55
19
44
15
40
18
99
110
Bulletin F
50
17
40
13
36
16
90
100
140
:
120
10 percent shorter
45
15
36
11
32
14
81
90
20 percent shorter
40
13
32
10
29
12
72
80
40 percent shorter
30
10
24
8
22
9
54
60
Source: U.S. Department of Commerce, Office of Business Economics.
(Continued on p.
By ROBERT E. GRAHAM, JR. and JACQUELIN BAUMAN
Corporate Profits and National Output
Profits Decline Relative to Output in Postwar Period
Depreciation Allowances Show Sharp Rise
Quarterly Estimates of Corporate Gross Product Depict Postwar Changes
lORPORATE profits before taxes
were at an annual rate of $50% billion
in the first six months of 1962, well
above the total for the preceding year
though off slightly from the $51 billion
flow recorded in the final quarter of
1961.
When the profits estimates for
the current period are adjusted to
reflect the Treasury Department's 1962
liberalization of depreciation allowances, it is expected that the first half
figures will be lowered substantially.
This article reviews the trend in
corporate profits over the postwar
period; discusses the effect on corporate
profits and national income of the most
recent change in regulations governingdepreciation allowances; assays the
impact of other changes of a similar
nature that have occurred during the
postwar period; and presents a quarterly measure of corporate gross product
to provide a series for use in analyzing
changes in corporate output and
earnings.
Earnings of corporations are measured net of charges for depreciation of
plant and equipment. Depreciation
measures the wear and tear and obsolescence
of fixed capital and is based on accounting practices used for tax purposes.
Since World War II, laws and regulations governing the computation of
depreciation write-offs have been changed
several times as a result of the accumulation of experience regarding
the life of capital assets, and as opinions
changed as to the proper timing of
depreciation allowances. Each such
change in procedure has introduced a
new element into the measurement of
corporate profits for national income
purposes.
Hitherto, the generally moderate
increases in depreciation stemming from
tax changes have been obscured by
the long-term uptrend in depreciation
allowances associated with a steadily
expanding stock of capital and the
replacement of prewar equipment by
new and more costly items. This was
because earlier changes in the rules of
depreciation applied only to capital
purchased after the liberalization of
procedures, and the effects therefore
showed up gradually.
New depreciation rules
Treasury provisions designed to permit more realistic depreciation, and
which became effective in mid-1962,
are applicable to all existing capital.
They may result in an increase of as
much as $2 billion to $3 billion in depreciation in 1962, with a corresponding
decline in corporate profits on this
account. This latest change in procedures, together with the accelerated
amortization authorized in World War
II and again in the Korean crisis, and
the larger depreciation allowances stemming from the Internal Kevenue Act
of 1954, will yield a corporate profits,
total in 1962 about $6-7 billion lower
than would have been the case had
these legal changes not occurred. These
developments have made the evalua-
POSTWAR MOVEMENTS OF TOTAL CORPORATE OUTPUT AND
CORPORATE EARNINGS
Trends Have Diverged in the Postwar Period With Profits Showing Lesser Rise and
High Cyclical Sensitivity
Billion $ (ratio scale)
400
(ratio scale) Billion $
80
70
Corporate Gross Product
(left scale)
300
60
»***
.-•'*
.....^
"•••
50
200
40
30
Profits Before Tax, Including
Inventory Valuation Ad/usfmerjf
(right sca/e]
100
20
75
I I I ) I I 1 I I I 1 1 M I I l ! I I I I I I " . 1 I I . l l I i i I I I i 1 I i M I M I I i 1 1 ! 1 i_L_L
l ! I» t I I
1948
1950
1952
1954
1956
1958
1960
1962
Quarterly Totals, Seasonally Adjusted, at Annual Rates
Note: Shaded areas represent cyclical peaks chosen for analysis.-
U.S. Department of Commerce, Office of Business Economics
62-11-11
19
SUEVEY OF CURRENT BUSINESS
20
November If)
Table 1.—Charges to Account of Corporate Business, 1947-62 l
[Billions of dollars]
Total charges to corporate account
Intermediate purchases
Corporate gross product
.-
Indirect taxes
Capital consumption allowances _ _ _ _ _ _ _ _ _
Income originating in corporate business
Compensation of employees
Wages and salaries
Supplements
_Net interest
Profits before tax, including inventory valuation adjustment 2
_
- -- --
1947
1948
1949
1950
1 1951
i
1952
1953
1954
1955
1956
1957
1958
1959
1960
19€
367.5
411.1
389.3
459.8
521.6
528.8
553.7
545.9
638.3
674.9
713.1
697.6
790.3
811.2
83
244.5
123.0
270. 4
140.7
251.9
137.3
303.3
156.5
341.4
180.2
340.2
188.6
351 2
202.4
348.1
197.8
415.2
223.1
437.6
237.3
464. 3
248.8
454.0
243.5
518.2
272.1
528.4
282.8
54
28
12 0
6.3
104.7
12 6
7.7
120.4
13.3
8.5
115.5
14.8
9.4
132.3
15.9
11.0
153. 3
17.8
12.3
158.5
19.3
14.1
169. 0
18.7
15.8
163.3
20.6
18.4
184.2
22.1
20.0
195.2
24.0
21.8
202.9
25.1
22.7
195.8
27.0
24.3
220.8
29.5
25.9
227.4
3
2
23
81.2
77.3
3.9
.6
90.0
85.9
4.1
.3
87.7
83.4
4.4
.4
97.4
91.7
5.7
.2
113.3
106.2
7.1
.3
121.6
114. 1
7.5
.3
132.4
124.2
8.2
.4
130.4
121.9
8.5
,5
142.2
132.5
9.7
.5
154. 6
143.8
10.9
.3
162.7
150.6
12.2
.4
159.5
147.4
12.1
1.0
174.5
160.4
14.1
.9
183. 1
167.5
15.6
.6
18,
16'
li
22.9
30.0
27.4
34.7
39.7
36.6
36.2
32.3
41.6
40.2
39.7
35.4
45.4
43.7
4;
i
[Billions of dollars seasonally adjusted at annual rates]
Total charges to corporate account
Intermediate purchases
Corporate gross product
_
Indirect taxes
_ _ _ _ _ _ _ _
Capital consumption allowances
Income originating in corporate businessCompensation of employees
Wages and salaries
Supplements
-1
Net interest
Profits before tax, including2 inventory valuation adjustment
- -
1949
1948
1947
1950
1
II
III
IV
I
II
III
IV
I
II
345.4
360.5
368.8
395.5
400.3
407.7
418.2
418.1
399.8
229. 4
116.0
239.2
121.3
244.1
124.6
265. 3
130.1
264.0
136.2
268.0
139.7
275.9
142.3
273.6
144.5
259.9
139.9
11.9
58
98.3
11.8
6.3
103.3
11.9
6.5
106.3
12.4
6.8
110.9
12.3
7.2
116.7
12.6
7.6
119.5
12.7
7.8
121.8
12.7
8.1
123.6
78.3
74.5
3.7
.5
79.6
75.7
3.8
.6
81.8
77.8
4.0
.6
85.1
80.9
4.1
.7
87.5
83.4
4.1
.4
89.2
85.1
91.7
87.6
91.8
87.6
.3
.3
.3
.3
.4
.4
19.5
23.1
23.8
25.2
28.8
30.0
29.7
31.5
28.8
26.7
28.7
III
IV
I
II
III
IV
388.4
388.7
380.3
404.6
437.8
494.0
502
251.4
137.0
250.5
138.2
246.0
134.3
263.8
140.8
286.7
151.1
330. 0
164.0
33$
17C
12.9
8.2
118.8
13.2
8.4
115.3
13.7
8.6
115.9
13.5
8.8
112.1
13.7
9.0
118.1
14.4
9.3
127.3
15.9
9.5
138.6
15
9
145
89.7
85.5
88.2
83.9
86.8
82.4
86.2
81.7
94.5
89.0
5.4
.2
100. 4
94.5
5.9
2
105
99
6
.4
89.4
84.3
5.1
.2
25.4
28.5
32.6
38.0
39
1953
1952
1951
1954
530.0
525.5
514.9
516.2
518.8
514.1
526.8
555.6
555.7
561.1
561.5
536.3
535.5
538.7
544.2
565,
- -
353.7
176.3
345.8
179.7
333.8
181.1
332.5
183.7
333. 0
185. 7
329.1
185.0
340.3
186.6
358.3
197.3
352. 6
203.1
355.7
205.4
357.1
204.4
339. 6
196.7
339.4
196.1
342.1
196.6
348.2
196.0
362,
202,
Indirect taxes
Capital consumption allowances
Income originating in corporate business _
16.2
10.3
149.8
15.4
10.7
153.5
15.7
11.2
154.2
16.4
11.6
155.7
16.9
11.8
157.1
17.7
12.2
155. 1
17.9
12.4
156.2
18.7
13.0
165.7
19.1
13.5
170.5
19.4
13.9
172.2
19.6
14.3
170.5
19.4
14.7
162.7
18.8
15.1
162.2
18.7
15.6
162.3
18.3
16.1
161.6
18.
16,
167.
Compensation of employees
- Wages and salaries
__
Supplements
Net interest
Profits before tax, including2 inventory valuation adjustment
110.2
103.4
6.8
.3
113.3
106.3
7.0
.3
113.9
106.8
7.1
.3
115.7
108.4
7.3
.3
118.8
111.4
7.4
.3
119.2
111.8
7.4
.3
121.0
113.4
7.5
.3
127.5
119.7
7.8
.3
130.8
122.8
8.0
.3
133.2
125.1
8.1
.3
133.7
125.4
8.3
.4
131.9
123.7
8.3
.4
130.5
122.0
8.5
.5
129.8
121.4
8.4
.5
129.4
120.9
8.5
.5
132.
123.
8.
39.4
39.9
40.0
39.7
38.0
35.5
34.9
37.8
39.3
38.6
36.5
30.3
31.2
32.0
31.7
34.
Total charges to corporate account
.
Intermediate purchases
Corporate gross product
1956
1955
1957
1958
601.5
637.3
652.9
661.7
662.6
668.1
668.7
700.3
712.1
710. 6
723. 4
706.2
669.2
674.5
704.8
741.
389.4
212.0
417.1
220.2
425.7
227.2
428.8
232.9
429.7
232.9
432.3
235.7
431.3
237.4
457.0
243.3
463.7
248.3
461.2
249.4
471.8
251.6
460.4
245.8
433.2
236.0
436. 9
237.6
459.8
245.0
486.
255.
Indirect taxes
Capital consumption allowances
Income originating in corporate business
19.5
17.4
175.1
20.6
18.0
181.7
20.9
18.7
187.6
21.2
19.2
192.5
21.4
19.6
191.9
21.8
19.9
194.0
22.2
20.2
195.0
23.2
20.4
199.8
23.6
21.3
203.5
23.9
21.7
203.8
24.3
22.2
205. 2
24.3
22.3
199.2
24.3
22.4
189.3
24.8
22.5
190.3
25.2
22.7
197.1
25.
23.
206.
Compensation of employees
Wages and salaries
Supplements
Net interest
_-- Profits before tax, including2 inventory valuation adjustment
135.9
126.7
9.1
.4
140.7
131.2
9.5
.5
144.3
134.3
10.0
.5
147.9
137.7
10.2
.5
150.6
140.1
10.5
.3
154.0
143.2
10.7
.3
155.0
144.0
11.0
.3
159.0
147.7
11.3
.3
161.3
149.5
11.9
.4
163.1
151.0
12.1
.4
164.3
152.0
12.3
.5
162.2
149.8
12.3
.5
157.6
145.6
12.0
.9
156.8
144.8
11.9
1.0
160.0
148.0
12.1
1.0
163.
151.
12.
1.
38.8
40.5
42.9
44.1
41.0
39.8
39.7
40.5
41.7
40.2
40.4
36.6
30.8
32.6
36.1
41.
Total charges to corporate account
Intermediate purchases
Corporate gross product
1961
1960
1959
1962
764.0
811.1
791.6
794.4
818.8
819. 8
807.1
799.1
796.0
825.2
841.5
869.5
878.4
892. 3
499.5
264. 5
534.5
276. 5
519.0
272. 6
519.8
274. 6
534. 0
284.8
534. 5
285.2
524.8
282.3
520. 2
278.9
521. 0
275. 0
539.0
286.3
551.3
290.2
569. 5
300.0
575.7
302.7
583. 6
308.7
Indirect taxes
Capital consumption allowances
Income originating in corporate business
26.4
23.4
214.7
26.6
24.1
225. 8
27.4
24.5
220.8
27.8
25.0
221.8
29.3
25.5
230. 1
29. 9
26. 0
229. 3
29.3
25.9 I
227.2 !
29.6
26.2
223. 2
29.2
26. 6
219. 2
30.3
27.3
228.7
30.4
27.8
232. 1
31.4
28.5
240.2
31.6
28.7
242.3
32.5 i
29.1
247.1
Compensation of emplovees
Wages and salaries
Supplements
Net interest
Profits before tax, including2 inventory valuation adjustment
169.5
155. 9
13.7
.8
176. 1
161. 9
14.2
.9
175. 6
161. 3
14.3
.9
176. 8
162. 4
14.4
.9
182.8
167. 3
15.5
.6
184.4
168.8
15.6
.6
183.8
168.2
15.6
.6
181.3
165.8
15.5
.6
180.5
164.8
15.7
.9
184.8
168. 9
15.9
.9
187.2 i
171. 1
16. 1
.9
190. 5
174. 1
16.4
1.0
193.5
176.0
17.5
1.0
197.8
179.9
17.9
1.0
44.4
48.9
44.3
44.0
46.7
44.3
42.7
41.2
37.8
43.0
48.7
47.8
48.3
Total charges to corporate account
Intermediate purchases
Corporate gross product
- -
1
i Total charges to corporate account (sales plus inventory change) and intermediate purchases are imconsolidated totals, because intercorporate sales and purchases are included.
Corporate gross product is a consolidated aggregate.
2
Excludes profits originating in the rest of the world.
November 1962
ion of movements in corporate profits
nost difficult because of the entanglenent of economic and legal aspects.
Here, it may be noted that the
?xtent of the current increase in depreciation, and the reduction in profits
•esulting therefrom, is quite speculative
because of the lack of comprehensive
reports since the effective date of the
new regulations. Indeed, some companies have probably not yet made a
final decision regarding use of the new
depreciation guidelines. The $2-3 billion range used is based on an assessment of corporate potentials rather than
on reported data or tax records.
Depreciation and profits
A brief resume of changes in the laws
relating to depreciation will give perspective to the more recent development. Business
expenditures
for
plants, machinery, and equipment cannot, as a general rule, be written off
fully as an expense of any one year's
operations. Instead, each year's business is charged with a portion of the
capital expense until the entire cost,
less salvage value, has been deducted.
Total depreciation chargeable against
a capital asset is fixed, but modifications in law or by administrative action
may have an important effect on the
timing of deductions. The pronounced
liberalizations of depreciation introduced in 1954 and again in 1962 will
effect an indefinite postponement of
some taxes as long as capital outlays
increase.
Prior to 1934, taxpayers generally
fixed their own periods for writing off
capital assets, unless the (then) Bureau
of Internal Revenue showed their
choices to be unreasonable. From 1934
on, the burden of proof as to the correctness of a deduction was on the taxpayer,
and in 1942, the Bureau issued Bulletin
F which specified for many types of
machinery and equipment the length
of life to be used in calculating depreciation. Individual companies were
permitted to use variations determined
from experience factors.
Temporary departures from this general policy occurred when accelerated
amortization of defense facilities was
authorized in 1940 and again in 1950.
Such facilities could be written off in
SURVEY OF CURRENT BUSINESS
5 years on a straight line basis, regardless of their customary length of useful
life. This rapid writeoff was available
for only that part of the cost which was
certified as necessary to national defense. Many capital assets qualifying
for this accelerated amortization have
since been completely depreciated and
the impact of these programs on reported depreciation is negative at the
present time. That is, although depreciation on many defense facilities is
now zero, the facilities continue to
contribute to production, and total
depreciation charges on this account are
less than they would otherwise be.
Until 1954, depreciation was generally calculated on a straight line basis.
That is, the annual depreciation allowance on a capital item was computed by
dividing the cost of the item by the
number of years of its useful life, with
the annual dollar depreciation the same
in all years.
Changes in 1954 and 1962
The Internal Revenue Code of 1954
authorized the use of 2 alternative
methods of calculating depreciation.
The double declining balance method
permits a high annual rate of depreciation to be used—currently, the rate is
double that employed in straight line
depreciation—but this rate is applied to
only the undepreciated portion each
year.
The second method is known as
the sum-of-the-years-digits. Under this
method, annual depreciation is calculated by applying to the asset's cost a
fraction which is reduced each year.
The fraction is determined as the ratio
of the number of years of useful life remaining in the asset to the sum of the
digits in the original total useful life.
For an asset with a 5-year life, the denominator would be 5-}-4:Jr3-\-2-{-l =
15. In the first half of an asset's life
the straight-line method writes off onehalf of its cost; the double declining
balance method writes off approximately two-thirds; while the sum-ofthe-years-digits method writes off about
three-fourths.
The new depreciation procedure, effective for income tax returns filed on
or after July 12, 1962, permits substantial reductions in the length of depre-
21
ciable lives of machinery and equipment
used by industry and allows greater
flexibility^ in the rate at which equipment may be written off. As noted,
the full-year effect of the use of the new
procedures, at 1962 levels, may amount
to a $2 billion to $3 billion increase
in corporate depreciation deductions
claimed by industry. The counterpart
of these higher depreciation charges will
be a reduction in taxes of about half as
much.
Comprehensive data reflecting these
changes will not become available until
tax returns filed subsequent to mid-1962
have been tabulated by the Internal
Revenue Service—probably in early
1964.
Problem of Current Profits Measure
Since national income is measured on
an accrual basis and the quarterly
profits estimates are tied to annual
corporation tax returns filed with the
Internal Revenue Service, the quarterly
profits and national income estimates
will reflect retroactively as far back as
the third quarter of 1961 the higher
levels of depreciation and lower profits.
However, no empirical estimates of the
extra depreciation to be claimed are as
yet available. Moreover, company reports for the first and second quarters
of this year did not, of course, reflect
the new depreciation rates which were
not authorized until July, nor do the
national accounts.
Some corporations may introduce
the adjustment into their third quarter
reports; others will include it in their
annual report; some will probably not
adopt the new procedures. Practice,
doubtless, will vary widely in this
respect. In any event, there will be
considerable uncertainty in the quarterto-quarter estimates of corporate profits
for some time to come—until the new
procedures have been in effect long
enough for the movement in corporate
profits to be established on a cornparable basis, and until data have
become available by which current
tendencies can be measured under the
new rules.
Meanwhile, the Office of Business
Economics will prepare estimates of
corporate earnings before depreciation
allowances. From these will be de-
SURVEY OF CURRENT BUSINESS
22
ducted estimates of depreciation which tool for analyzing corporate operations.
will represent an extension of the It furnishes a means for evaluating the
presently published depreciation series place of depreciation and indirect
before the 1962 liberalization. When business taxes, as well as the various
the data necessary to measure depre- factor costs, in the corporate cost
ciation, as defined in the 1962 tax laws, structure, and for relating them to
have been assembled, we shall use such profits. It is more comprehensive than
data to construct a new series which is income originating, and provides a
will reflect the impact of changes in broader base against which changes in
Treasury regulations.
costs and in profits, either gross or
A series measuring the true economic net of depreciation, can be meaningdepreciation of the Nation's capital fully compared.
stock would be desirable so that the
national income aggregate would not Measure of corporate gross product
be influenced directly by changes in
Corporate gross product consists of
the laws and regulations governing the contribution of corporations to the
depreciation. But the development of market value of the output of goods
such a series, controversial in concept and services produced by the domestic
and difficult of execution, remains in economy. It is computed as the sum
the future. Accordingly, it seems ap- of compensation of corporate employpropriate to introduce a broader meas- ees, net interest paid by corporations,
ure of economic output that, though it corporate earnings before taxes (these
does not "solve" the problem, is components make up income originatindependent of changes in depreciation. ing in corporations), indirect business
This measure is corporate gross prod- taxes, capital consumption allowances,
uct, which is the corporate segment of and business transfer payments less
the gross national account.1
subsidies
paid
corporations
by
Corporate gross product is a useful o'overnment.
Table 2.—Charges to Account of Corporate Business, Selected Periods
[Billions of dollars seasonally adjusted at annual rates]
Second Second
half
half
1951
1948
Total charges to corporate account
Intermediate purchases
Corporate gross product
.__ _
_
.
Indirect taxes
Capital consumption allowances
Income originating in corporate business
_- _ _
Compensation of employees
Wages and salaries
Supplements
Net interest
Profits before 1 tax, including inventory valuation
adjustment
First
half
1953
Second
half
1955
First
half
1957
First
half
1960
First
half
1962
418.2
515.5
558.4
657.3
711.4
819.3
885.4
274 8
143 4
333 1
182 4
354 1
204.3
427 2
230.1
462.5
248.9
534 3
285. 0
579 7
305. 7
12 7
80
122.7
16 0
11 4
155. 0
19 2
13.7
171.3
21.0
19.0
190.0
23.7
21.5
203.7
29.6
25.7
229.7
32 0
28.9
244.7
91.8
87 6
4.2
.3
114.8
107 6
7.2
3
132. 0
123 9
8.1
.3
146. 1
136 0
10.1
.5
162.2
150 3
12.0
.4
183. 6
168 0
15.6
.6
195.6
178 0
17.7
1.0
30.6
39.8
39.0
43.5
41.0
45.5
48.1
1. Excludes profits originating in the rest of the world.
Table 3.-—Charges to Corporate Gross Product, Selected Periods
[Percent distribution]
Corporate gross product
Indirect taxes
Capital consumption allowances _
Income originating in corporate business
.
_ .
.
Compensation of employees
Wages and salaries
-- _Supplements
_
Net interest
Profits before tax, including inventory valuation
adjustment *
1. Excludes profits originating in the rest of the world.
Second Second
half
half
1951
1948
First
half
1953
Second
half
1955
First
half
1957
First
half
1960
First
half
1962
100 0
100.0
100.0
100.0
100.0
100.0
100.0
8.9
5.5
85 6
8.8
6.2
85 0
9.4
6.7
83.9
9.1
8.2
82.6
9.5
8.6
81.8
10.4
9.0
80.6
10.5
9.5
80. 1
64 0
61.1
2.9
2
63 0
59.0
4.0
.2
64.6
60.7
3.9
.2
63.5
59. 1
4.4
.2
65.2
60.4
4.8
.2
64 4
58.9
5.5
.2
64 0
58.2
5.8
.3
21 3
21 8
19 1
18 9
16.5
16 0
15 7
November ll>li
The profits component of nation*
income and of corporate gross product
shown in line 11, table 1, is measure"
before deduction of income taxes o
depletion. It is adjusted to take ou
gains and losses arising from changes ii
replacement costs of inventories as we!
as other capital gains and losses, sinc<
these result from price phenomem
rather than from production.
The profits totals used exclude profits received by U.S. corporations frorr
their foreign branches and from theii
investments abroad. This last exclusion amounts to approximately $2% billion currently.
Accordingly, the profits total for the
first half of 1962 discussed in the following sections and shown in the accompanying tables amounts to $48.1 billion,
instead of the $50% billion aggregate
noted in the opening paragraphs. The
larger figure, which includes corporate
profits originating outside the United
States, is a component of total gross
national product, whereas the $48.1
billion figure relates to corporate gross
product originating within the domestic
economy.
Those familiar with the usual comparisions of corporate profits as a percentage of national output will note
that profits are a substantially smaller
proportion of corporate gross product
than of corporate national income. This
difference reflects the inclusion of capital
consumption allowances and indirect
business taxes in the product measure
and their exclusion from the income
aggregate. Compensation of employees
and net interest, the other income
shares, are affected in the same manner
as are corporate profits by the substitution of gross product for national
income as the denominator.
Table 1 presents the cost structure or
framework of corporate business for the
period 1947 through the first half of
1962. Its composition will be discussed
as the various components are
considered.
Analysis confined to cyclical peaks
The well-known tendency of corporate profits to fluctuate sharply with
1. Annual estimates of corporate gross product were first
presented in a review of corporate profits in the early postwar
years in the January 1956 issue of the Survey of Current
Business. The present report presents a comparable series
on a quarterly basis.
SURVEY OF CUERENT BUSINESS
changes in the level of business activity of total corporate output returned to
may be seen in the chart on page 19. capital in the form of profits declined
In this review, attention centers on the by one-fourth over the postwar years.
longterm, basic changes in the share of With tax liabilities doubling over this
production that accrues to capital in span, after tax profits rose about onethe form of corporate earnings—rather fourth, and the share of corporate outthan on changes that reflect simply the put accruing to capital after payment of
course of the business cycle. These income taxes dropped two-fifths.
latter are best eliminated by measuring
The course of the decline in the profits
profits over time at comparable stages share of output has been irregular.
of the cycle. For this, we have chosen From 1948 to 1951, there was a temporthe high points of the several cycles ary rise in earnings relative to total
which are shown as shaded areas in the output. From 1951 to 1957, the profits
share of total corporate output dechart.
Because short-run changes in the clined sharply. Since 1957, this share
corporate profits share are so pro- has remained roughly constant, though
nounced that small differences in tim- well below earlier highs.
ing with respect to cyclical position may
influence the observed secular trend, Types of change in profit ratios
Changes in the overall profit ratio
time spans 6 months long—broad
enough to mask random changes—have may originate in shifts in the distribubeen selected to represent each cyclical tion of factor income within individual
peak. For brevity, the individual industries, or, they may reflect changes
periods will hereafter be referred to by in the industrial composition of income.
the year in which they fall, i.e., 1948, That is, the shares of income going to
1951, 1953, 1955, 1957, 1960, and 1962. labor and capital may change in one or
The values for each time period have more industries thereby causing a
been converted to annual rates by change in the all-industry profit-ratio.
Or, there may be a shift in the industrial
multiplying all figures by 2.2
The choice of these periods is not composition of output from high (low)
intended to suggest that corporate profit industries to low (high) profit
business was operating at the same level industries. Such a change in industry
of capacity in each. Indeed, there is mix could affect the overall profits ratio
evidence that compared to the early even though profit margins within
postwar period, there has been con- individual industries remained constant.
The impact of each type of change
siderable excess capacity at recent
cyclical peaks as complete recovery was on the profits was measured by first
not achieved. The effect of this excess holding the industry-mix constant and
capacity, or lack of demand, on the allowing profit ratios to vary in accordprofits share is considered later in the ance with actual developments. Next,
profit ratios were held constant for
discussion.
each industry and applied to actual
Corporate Profits Decline
sales—because corporate gross product
is not available by industry, it was
Relative to Output
necessary to use sales to test the effect
The relation of corporate profits and of changes in profit margins. In each
total corporate output (corporate gross instance, the computations were made
product) at selected periods of high in considerable industrial detail. The
economic activity are shown in table 2. profits aggregate resulting from each
Earnings before taxes rose from $30% of these standardizations was then
billion in 1948 to an annual rate of $48 compared with actual profits. As a
billion in early 1962. This increase of check, the same standardization proalmost three-fifths in profits went along cedure was applied to profits and inwith a more than doubling of corporate come originating by industry. The
gross product. Accordingly, the share two procedures yielded similar results.
The results reveal that changes in
2. The profits peak in mid-1959 is omitted because it reflects
product-mix
had comparatively little
the special situation surrounding the major steel strike of
effect on movements in the overall
that time. It does not represent a cyclical peak.
23
profit ratio in most periods. From
1948 to 1953, and again from 1957 to
1962, changes in industrial composition
tended to raise the ratio of profits to
corporate gross product by a very
small amount. From 1953 to 1957,
industry shifts tended to reduce overall
profit margins somewhat.
Change in profit margins large
Over the course of the decade and
a half, declines in profit ratios among
individual industries were widespread.
From 1948 to 1951, changes in industry
margins had a bolstering effect on the
overall profit ratio.
This, together
with the fact that the largest increases
in sales during this period occurred
in relatively "high-profit" industries,
explains the small increase in the total
profits share between 1948 and 1951.
From 1951 to 1957, however, profit
ratios were off in almost every industry,
and in most, the decline was substantial. Practically all of the contraction
in profits as a percent of corporate gross
product was caused by declines in
profit ratios for individual industries.
A further decline in industry profit
margins from 1957 to 1962 was partly
offset by the more favorable industrymix, and the overall profit ratio held
up rather well.
Industrial shifts in profit ratios
From 1948 to date, the ratio of profits
before taxes to total income originating
in corporations (income originating is
used in the absence of corporate gross
product by industries) declined onefifth. The decline differed widely
among industries. Iri construction,
trade, and the services, profit ratios
declined substantially, as the sellers'
market of the immediate postwar years
rapidly siphoned off pent up consumer
demand.
The return of a more normal competitive situation in the world market
for raw materials forced a sharp cut in
mining profit margins. A steep decline
in profit margins occurred in the transportation field, where the dominant
railroad industry lost ground to other
carriers in which the corporate form of
organization is less prevalent. In both
of these industrial groups, as well as in
trade and service industries, profits in
SUKVEY OF CURRENT BUSINESS
24
1962, measured as a percent of total up substantially over the postwar
income originating, were about half the period. Manufacturing industries, accounting for about half of all income
1948 rate.
On the other hand, in communica- originating in corporations, showed detions and public utilities regulated rates, clines approximating the all-industry
which were independent of market figure of one-fifth, with no significant
forces, had been held down so that pro- relative difference between the durable
ducers had not benefited from the and nondurable goods sectors in this
immediate postwar situation. Profit respect.
margins in these groups gradually
Source of Change in Profit
advanced—rising by more than 50
Margins
percent from 1948 to 1962.
Earnings ratios held up well in the
Attention is turned now to an examifinance industry as interest rates moved nation of factors underlying changes
November 19(32
in the corporate profit margins. The
percentage distributions in table 3,
computed from the figures in table 2,
show relative changes in the cost
structure of all corporations taken
together.
Before examining the relative shifts
in profits and the various charges
against gross product, a related development may be noted. This is the striking stability in the apportionment of
total charges to corporate account
between corporate gross product (onethird) and intermediate purchases from
OVER THE POSTWAR PERIOD COMPENSATION OF EMPLOYEES HAS KEPT PACE WITH THE RISE IN PRODUCT; PROFITS HAVE LAGGED;
DEPRECIATION AND INDIRECT TAXES HAVE RISEN FASTER THAN CORPORATE OUTPUT
Capital Consumption
Allowances
Interest
1951
150 -
Indirect Taxes
Corporate Gross
Product
Compensation
100 -
150
1957*
1957-1962
125
TOO
75
Profits
50 -
(before fox andIVA)
50
25
1948
U,S, Department of Commerce, Office of Business Economics
1962
1957
1962
62-11-14
SURVEY OF CURRENT BUSINESS
November 11)62
other businesses, corporate and noncorporate, of goods and services used
in the productive process (two-thirds).
This latter measure (line 2, table 2)
is derived by subtracting corporate
gross product (line 3) from corporate
revenue (line 1).
Corporate gross product represents
a consolidated account for all corporations and there is no duplication
involved in the items in lines 4 through
11. Corporate revenue and intermediate purchases, on the other hand,
contain considerable duplication as they
both include sales and purchases made
businesses in successive stages of the
production process.3
Table 4. —Charges to Account of Corporate
Business
[Percent change selected periods]
Total charges to corporate account
Intermediate purchases
Corporate gross product
Indirect taxes. .
Capital consumption allowances- _ _ __ _
Income originating in corporate business _.
194851
195157
1957- 194862
62
23.3
21.2
27.2
38.0
38.8
36.4
24.5
25.3
22.8
26.0
48.0
35.0
151.6
43.1
88.7
34.7
263.8
26.3
31.4
20.2
99.4
111.7
111.0
113.2
pared to a gain of a little more than
one-fourth in product. Over this span,
profits as a residual share benefited
from the fuller utilization of resources
resulting from military and civilian
demands that accompanied the outbreak of hostilities in Korea, and in
1950-51, they reached a postwar high
as a proportion of total output.
Profits share of output decreases
From 1951 to 1957, corporate profits
rose 3 percent, while corporate gross
product advanced more than one-third.
As a consequence, the share of total
output accruing to capital in the form
of earnings fell one-fourth. Over the
next five years, the increase in corporate
earnings (17 percent) was not much
less than the overall growth in output
(23 percent), and the share of profits
was down only 5 percent. The relative
decline in profits that has characterized
the postwar period as a whole is thus
seen to be a product of the 1951 to
1957 period.
Employee compensation stable
In order to identify the factors related
to the profits decline, the various
ees
25. 2 41 3 20 6
Wages and salaries
22.9 39'. 6 is! 4 m.2
charges
that must be met are now
Supplements
72.5 66.0 47.6 322.6
Net interest
-16.5 53. 5 132.1 197.6
considered.
By far the largest of these
Profits before tax including inventory valuis
compensation
of employees.
30.2
ation adjustment *
2.8 17.3
57.0
Wages and salaries plus supplemen1. Excludes profits originating in the rest of the world.
tary labor income ("fringe benefits")
account for just under two-thirds of
Changes in corporate costs
In considering factors in the relative the total cost of the national output—
decline in corporate profits, attention a fraction that has remained quite
is directed to the left panel of the chart constant. Over the postwar period, exon page 24 and to the percentage dis- pansion in employee compensation partributions of charges against corporate alleled that in total output. From 1948
gross product in table 3. These show to 1962, compensation increased 113 perclearly the lag in profits over the post- cent, a rate of gain identical with that in
war period. Corporate gross product corporate gross product. In the first
more than doubled from 1948 to the and last of the three periods considered,
first half of 1962, while profits rose the payroll component lagged slightly
three-fifths. Accordingly, earnings fell behind other costs. From 1951 to 1957,
from 21 percent of gross corporate when the profits "squeeze" developed,
output in 1948, to a little less than 16 the corporate wage bill expanded a little
more than did total output. Over the
percent in 1962.
The smaller panels in the chart depict entire period, gains and losses offset,
the timing of the relative decline in leaving the share of employee compensaprofits. From 1948 to 1951, corporate tion in 1962 the same as in 1948.
earnings rose almost one-third, com- Net interest a minor cost
Compensation of employ-
113 2
3. In the cost of intermediate purchases, the full purchase
price for goods and services obtained from noncorporate
business (this would apply to most farm products) is
counted. In purchases by one corporation from another,
the purchase price less charges against gross product is
counted.
6 (519(54—(52
4
The third item of factor income, net
interest paid by corporations, has
expanded from $1/3 billion in the early
postwar years to $1 billion currently.
25
In relative terms this expansion is
exceeded only by that in capital consumption allowances and supplementary labor income. Over this period,
however, the dollar volume of net
interest originating in corporations has
been so small that despite its rapid
growth, its share of corporate output
has increased from only 0.2 percent to
0.3 percent.
Indirect business taxes rise
After employee compensation and
profits, indirect business taxes, essentially taxes on sales and property,
account for the largest portion of corporate gross product. From $12% billion in 1948, they rose to a current
rate of $32 billion—an increase of onefifth in importance in the corporate
gross product cost-price structure.
Most of the rise in indirect taxes is
associated with the growth of the economy. With sales in 1962 more than
double those in 1948, the yield from
excise taxes has risen substantially simply because of the increased volume
of business. As a further reflection of
the growth of the economy, there has
been a great increase in plant and equipment expenditures since World War II.
DEPRECIATION AND PROFITS AS A PERCENT
OF CORPORATE GROSS PRODUCT AT
CYCLICAL PEAKS AND IN 1962
Both Combined Total and Profits Alone Decline
Percent
35
30
Profits Plu$ Tofal Corporate
Deprec/af/on
25
20
Profiis
15
• 2d half
O 1st half
10 L-L
1948
J
51
I
_L
53
55
57
J_
I
60
62
Note: Profits are before tax and include inventory
valuation adjustment
U.S. Department of Commerce, Office of Business Economics
62-11-15
26
PROFITS PER UNIT OF REAL CORPORATE
OUTPUT
Remain Stable While Other Charges Against
Corporate Gross Product Rise
1948 =100
250
200
—
150
-
Capital Consumption
Allowances
TOO
1948
51
53
55
57
60
62
* Prof its are before tax and include" inventory
valuation adjustment.
U S Department of Commerce, Office of Business Economics
62-11-16
This has expanded the property tax
base, and hence, property tax payments,
appreciably.
In addition to the factors whose expansion in line with output was to have
been expected, property tax rates have
risen and State and local governments
have been resorting to sales taxes to
an increasing degree to finance their
activities. As a result, total indirect
taxes have been pushed up relatively
more than corporate sales. This, of
course, has been one of the influences
affecting the relative corporate cost
structure.
Capital consumption allowances
expand
Capital consumption allowances have
expanded steadily at a rate significantly
faster than the growth of gross product. Over the entire span since 1948,
the share has almost doubled. If the
output currently set aside for capital
replacement has increased only in proportion to the growth of the corporate
economy, capital consumption allow4. It will bear repeating that in the comparisons being
used the increased depreciation assumed to result from the
current liberalized procedures has not been included.
SURVEY OF CURRENT BUSINESS
November 1962
ances currently would amount to about
$16% billion. Instead, they totaled $29
billion, at annual rates in early 1962.4
This $12% billion increase in capital
consumption allowances relative to
other costs is the major element in the
postwar changes in the corporate cost
structure.
The postwar rise in the share of capital output claimed by depreciation may
be explained by reference to three separate factors. First, for the period as
a whole, the growth of capital stocks
exceeded the growth in the physical
volume of output. The immediate
postwar years were characterized by a
deficiency of capital, reflecting the low
operating rates of the depression; the
concentration of special-purpose defense facilities during the war boom;
and wartime restrictions on " nonessential" expenditures. In contrast,
capital stocks in recent years have been
adequate for the levels of production
obtaining and more than adequate in
some areas.
Secondly, much of the plant and
equipment in operation in the immediate postwar period had been constructed
or purchased at the relative!}^ low prices
prevailing in the inter-war period.
Consequently, depreciation charges
were low relative to the price of current
output and the replacement costs of
capital goods which had risen sharply.
The abnormally low level of capital
consumption in the early postwar
years is strikingly illustrated by comparison with the prewar period. Capital consumption allowances accounted
for about 8% percent of corporate gross
product in 1929 and 1939, but amounted
to only 5/2 percent in 1948 and did not
again reach their prewar level until
about 1957.
Finall}7, the Korean War defense
facilities program permitting accelerated amortization on certain facilities
tended to increase reported depreciation allowances during the middle and
late fifties. By 1962, the effect of this
program on reported depreciation had
become negative. The Internal Revenue Act of 1954, on the other hand,
authorized a speed-up in amortization schedules which has had a continuing effect. It is estimated that the
net effect of these two programs by
1961 had added about $4 billion to
corporate depreciation. The recentlyintroduced procedures will likely add a
similar amount to depreciation allowances in a much shorter period.
The three curves in the chart on
page 25 bring into focus the role of
capital consumption allowances in the
corporate profits experience. The lowest of the three lines depicts changes in
corporate earnings as a percent of
corporate gross product. This is the
profits measure that has been reviewed
in this article.
The center line of the three depicts the
profits share plus the extra depreciation
permitted by the Korean-accelerated
schedule of tax amortization and by the
more liberal methods of calculating
depreciation provided by the Revenue
Act of 1954. Even with the effects of
this speed-up in the write off of capital
equipment eliminated, profits show a
comparatively steep decline relative to
total corporate output. Whereas the
profit share as measured in accordance
with IRS rules fell one-fourth from
1948 to 1962, it declined almost onefifth even with the "extra" depreciation
added back.
The top line in the chart shows corporate profits plus total capital consumption allowances. The decline in
this aggregate over the entire postwar
Corporate Tax Liabilities Have Doubled
Since 1948 While Profits After Tax
Have Risen One-Fourth
Billion $
60
• 2d half
o 1st half
Profits Before Tax
40
• Profits Tax Liabilities
20
Profits after Tax •
_L
i
1948
51
J_
53
55
57
J
60
62
Half Years, Seasonally Adjusted, at Annual Rate
Effective Tax Rate
38%
53%
53%
49%
48%
49%
U.S. Department of Commerce, Office of Business Economics
49%
62-11-17
November 1962
SURVEY OF CURRENT BUSINESS
27
corporate depreciation in 1948 was profit margins and a greater volume of
"abnormally" low. The other major revenue.
difference between the short- and long- Disposition of Corporate Cash
run views is that between 1939 and
Flow
Summary of corporate cost changes
1948 there was a shift from interest
It is of interest to note the disposition
The tabulation below summarizes
to profits in the distribution of returns that corporate management collectively
postwar changes in the corporate cost
to capital as corporations used rela- has made of the cash flow which is
structure and, for perspective, shows
defined as book profits after taxes
tively less borrowed capital.
comparable distributions of charges
plus depreciation charges. Also, cash
Comparison of the position of cor- flow
includes profits after taxes reagainst corporate gross product in 1929
porate profits relative to corporate ceived by U.S. corporations from their
and 1939.
output in the several years shown in foreign branches and investments.
Percent Distribution of Charges Against
After-tax profits exclusive of inventhe tabulation indicates that a portion
Corporate Gross Product
of the decline in the profits share since tory gains and losses, rose from $20%
in 1948 to $26 billion in 1962.
1929 1939 1948 1962*
World War II represents a basic re- billion
This increase of a little more than oneduction in capital's share, while a fourth compares with a doubling of corCorporate gross product _
_ _ 100.0 100.0 100.0 100.0
portion seems to represent a return porate tax liabilities over this period—
Capital consumption allowfrom
an unusually high profits position from $12% billion to $24% billion.
ances
83
85
5 5
9 5
6.2 11.6
Indirect business taxes
8.9
10.5
The sharp rise in tax liabilities is
in 1948 and 1951.
Employee compensation
63.3 64.2 64.0
64.0
2
3.0
largely
the product of tax-law changes
Net interest
3. 1
.3
Finally, in evaluating the relative in the late
Profits before tax and includ1940's and early 1950's when
19.0 12.5 21.3
ing; IVA
15.7
position of corporate profits in the in- the effective tax rate rose from about
Addendum: Profits and income distribution, an additional fact 38 percent to 52 percent. From 1948
22.0 15.6 21.5
16.0
terest- - _
should be considered. The use in this to 1951, pre-tax profits rose a little less
*l)ata for first 6 months are annual rates.
review of selected periods of high than $6 billion, while tax liabilities were
more than $8 billion, leaving the
Comparison of the 1948 and 1962 economic activity was designed to up
after-tax figure down $2% billion.
distributions show that over the post- minimize the effect on profits of changes
Compared with 1951, however, tax
war years, capital consumption allow- in the business cycle. Nonetheless, it liabilities have risen $4 billion and afterances and indirect business taxes have should be noted again that since the tax profits have moved up nearly $8
faster than corporate output; midfifties the Nation's economy has been billion, largely owing to the elimination
the Korean War excess profits tax in
employee compensation has increased operating well below capacity even of
1954. The course of tax liabilities and
at the same rate as output; and cor- at the top of the expansive phase of the of profits after tax are shown in the
porate profits, as a residual income cycle. This excess capacity, along with chart on page 26.
Profits after tax plus depreciation
share, have borne the brunt of these intensified
competition, has
uncharges
(corporate cash flow) rose from
changes in the corporate cost structure. doubtedly been a prime factor in the
If a longer view is taken, much the profit lag. That is, unused capacity $27 billion in 1948, to $52% billion currently. Of this total, between one-third
same picture obtains but the changes in an industry contributes in full and one-fourth has been disbursed to
are more moderate and some further measure to overhead costs but adds stockholders in the form of dividends
shifts among income shares are evident. nothing to revenues, thereby depressing while the remainder has constituted a
Comparison of 1929 and 1962 indicates net earnings. Such measures as are fund for replacement and expansion of
capital, and other corporate needs.
only a moderate rise in capital conDividend disbursements have risen
available indicate strongly that over
sumption relative to output-—a rise
111 percent from 1948 to 1962, a rise
the
recent
period
there
has
been
conthat can be accounted for fully by the
that matches the growth of total cor"extra" depreciation authorized by the siderable slack in the rate at which porate output and compensation of
postwar changes in laws and regulations industrial capacity has been utilized. employees and exceeds the relative
An increase in this rate would most growth of earnings. Maintenance of
regarding depreciation.
dividend payments at a rate commenThe long-term comparison also but- certainly increase corporate earnings surate with overall growth, has resulted
tresses the view noted earlier that through the joint action of a rise in in a smaller growth in. the residual left
for replacement and expansion.
Although depreciation in the first half
Table 5.—Disposition of Corporate Internal Funds, Selected Periods
of 1962 is four times the 1948 volume,
[Billions of dollars]
undistributed profits have actually deFirst
First
Second Second First Second First
clined—from $13 billion in 1948, to $10
half
half
half
half
half
half
half
1962
billion so far in 1962. Together, undis1955
1960
1953
1957
1951
1948
tributed profits and depreciation have
Profits before tax, including inventory valuation adjustment L.
41.2
50.fi
40.1
45.1
42.9
47.4
31.5
risen
90 percent. There has been little
.1
Inventory valuation adjustment
-2.5
— 1.4
2.5
— 1.0
—2 0
additional resort to external financing,
Profits before tax
32 9
38 7
41 2
47 6
44 8
47 8
50 5
Tax liability
20.6
21.7
23.2
12.4
23.6
24.6
21.7
and capital formation has declined as a
Profits after tax
25.9
19.4
24.4
24.2
20.5
18. 1
23. 1
proportion of gross national product.
Cash flow 2
.
52.2
27.1
27.6
40.9
42.1
31.1
47.5
Nonetheless, as indicated above, the
Dividends
.
_
.. .
11.5
7.5
9.1
9.3
14.3
15.8
12.7
Undistributed profits plus depreciation
21 8
29.3
19 5
18 4
29 4
33 2
36 4
Nation's capital stocks have increased
Undistributed profits
12.9
12.9
8.9
10.4
9.9
10. 1
10.1
Depreciation
6 6
9 5
16 4
23 3
26 4
11 7
19 0
more than has the physical volume of
output over the period.
1. Includes
profits originating in rest of the world.
2. After-tax profits plus depreciation.
period amounts to 7 percent—about
10 percent if the abnormally high 1951
period is used as a base.
A
28
(Continued from p. 5)
employees costing about $}£ billion * for
the three quarters of the current fiscal
year it is in effect.
Federal expenditures other than for
goods and services are slated to rise
by almost $3 billion, with transfer payments to individuals up $1^ billion,
largely unchanged from the January
estimate. Higher unemployment compensation payments, in line with the
lower than earlier estimated rise in
economic activity, were offset by the
reductions from estimated budget expenditures made by the non-passage
of proposed legislation, such as the
youth employment opportunities program. Federal aid to State and local
governments would rise because of
higher highway construction and public assistance outlays. The effects of
the accelerated public works program
wih1 probably be only small in this category of Federal spending.
Interest charges are projected about
$K billion higher than in the past fiscal
year, partly because of the increase in
the national debt and partly because
of a higher average rate of interest to
be paid. Finally, the "subsidies less
current7 surplus of government enterprises' category will remain at about
the current level of $4% billion, annual
rate, rather than decline by $% billion
as estimated in January. The postal
rate increases are to become effective
in January 1963 rather than in July
1962 as anticipated in the January
budget and the postal pay raise was
larger than proposed so that the postal
deficit is larger than first estimated.
In addition, the non-passage of certain
parts of the President's farm program
proposals is expected to increase the
deficit of the Commodity Credit
Corporation.
(Continued jrom p. 7)
the first year of the current expansion,
continued the rise begun in the second
quarter. By virture of the gains of the
lasr two quarters, business fixed investment, after allowance for price increases
is currently well above 1960's peak quarter and about back to the postwar peak
reached early in 1957. As a percentage
of GNP, however, outlays for plant and
equipment are still somewhat lower
than in 1956-57.
Residential construction
There was a further sharp rise in
residential construction activity for
1, This excludes the cost of the pay raise for Post Office
employees, which is included in the "subsidies less current
surplus of government enterprises" category discussed below.
SURVEY OF CURRENT BUSINESS
the quarter, bringing the cumulative
rise since the 1961 first quarter low to
over 25 percent. After allowance for
price changes, the third quarter rate
about matched that of the second
quarter of 1959, the previous high
in residential construction activity.
Housing starts during the quarter were
off somewhat from the spring peak,
but the behavior of this series has been
highly erratic in recent quarters.
Lower inventory accumulation
Businessmen sharply reduced their
rate of inventory accumulation for the
second successive quarter, following
three quarters of cyclical recovery in
1961, and a moderate degree of hedging
against a steel strike in the first quarter
of this year. Additions to stocks during
the quarter in terms of annual rates
amounted to only $1 billion as against
$4 billion in the second and nearly $7
billion in the opening quarter of the
year.
In contrast to the second quarter
decline, which reflected principally a
reaction from the first quarter buildup
in the durable goods lines, third quarter
additions to stocks were lower in most
areas of production and distribution,
and there was some liquidation of
stocks among distributors of nondurable
goods. Automobile dealers were a
notable exception, accounting for most
of the third quarter gain, as stocks
were built up to meet the requirement
for 1963 model cars.
(Continued Jrom p. 18)
Appendix
This appendix describes the procedures used in deriving
the full set of calculations of capital stocks and related items
upon which this summary report is based. This project
has been planned in the Office of Business Economics as part
of an inter-departmental study of economic growth in which
QBE cooperates with the Bureau of Labor Statistics, the
Council of Economic Advisers, and other Federal agencies.
The programing and machine work wTere done on contract
by CEIR, Incorporated, formerly the Corporation for Eco
nomic and Industrial Research.
The calculations are based on a summary, short-cut
methodology; they will be followed by a second version
based on more elaborate techniques. In particular, separatedistributions of lives will be used for a list of more than 40
items of equipment and structure types; in the present study
only eight average service lives are used. (See below.)
No allowance is made for dispersion of retirements around
the average service lives.
In view of the nature of this pilot project, some of its
results will probably have to be modified when the results
of the more detailed study become available.
The series cover fixed capital assets—structures and equipment—located in the Continental United States and owned
by U.S. private business (including private ownership of
residences), nonprofit institutions, and foreigners.
Series have been prepared for residential structures, nonresidential structures, and for equipment; the first of these
items is carried separately and not included in any of the type
November 1!>(>2
of asset or industry summaries. (The residential estimates
have not been used in the preceding article.)
Breakdowns are provided for farms, manufacturing, and
all nonfarm nonmanufacturing industries combined, in addition to subtotals and totals for these industrial groups.
Calculations have been made for gross capital stocks,
discards, depreciation, net capital formation, net stocks,
ratios of net to gross stocks, and the age composition af gross
and net stocks. All these are continuous time series for the
period 1928 or 1929 to 1961, except for the age composition
data which are given only for selected years.
The figures were prepared by the perpetual inventory
method—involving the application of expiration dates to
time series on gross investment—and accordingly necessitated assumptions as to economic lifetime and proper depreciation formula.
There is no consensus as to what are the economic lifetimes
of capital assets. One set of estimates was prepared largely
on the basis of lifetimes published in Bulletin F (1942 edition)
of the Internal Revenue Service, and, in the case of the farm
components on Department of Agriculture data. In addition, estimates based on lifetimes 10 percent, 20 percent, and
40 percent longer and shorter were calculated. These seven
lifetimes were used in all the calculations except in the age
distribution tabulations in which the 10 percent variants
were omitted.
A similar approach was taken to the depreciation calculations. Since we do not know what is the economically correct formula for spreading depreciation over the lifetime of
a capital asset, five different formulas were used: Straightline; 1J-2, double, and triple declining balance method; and
the sum of the years-digits method. All series affected by
the variant calculations of depreciation were computed for
each of the depreciation formulas.
Finally, there is no single economically correct method for
valuing capital stocks and related magnitudes. Different
valuations are relevant for different purposes. In the light of
this, the estimates have been presented on alternative bases
of valuation. The first set is in terms of historical costs.
The second set is in terms of constant (1954) dollars. In
view of the well-known uncertainties attaching to price index
numbers, two versions of the constant-dollar figures are calculated in addition to the basic version (1) which uses the
implicit price deflators for producers' durable equipment and
construction prepared for the national income and product
accounts. In view of their possible deficiency—they measure, in general, prices of inputs rather than of outputs—the
construction deflators were replaced by (2) the implicit
deflator for nonfarm business GNP as a measure of the price
of structures. In view of the known inability of price indexes to reflect quality improvement comprehensively, a
further adjustment was applied to variant (2) for structures
and to variant (1) for equipment. This variant (3) assumes
a one percent per year allowance for unmeasured quality
improvement. Needless to say, this latter adjustment is
speculative; it has little conceptual or statistical foundation
and is introduced only because it has been suggested by
responsible students in the field.
The third set of valuations is in terms of current dollars.
This set expresses the physical volumes of a particular time
in terms of the prices that actually prevailed at that time.
Inasmuch as this involves multiplication of series expressed
in 1954 prices by the ratio of given period prices to 1954 prices
it can be seen that a separate current-dollar version corresponds to each of the three constant-dollar calculations.
Current-dollar calculations for net-gross ratios and age
composition calculations have been omitted. It is believed
that they are of lesser interest than the historical and constant-dollar calculations, and that they would not differ
materially from the latter.
The machine calculations were based on the following separate time series of gross capital formation:
Residences, farm
Residences, nonfarm
Nonresidential structures, farm
Nonresidential structures, manufacturing
Nonresidential structures, all other private industries
Equipment, farm
Equipment, manufacturing
Equipment, all other private industries
Each of these series was provided in historical dollars as
well as in constant-dollars—including all applicable variants
of the latter valuation, as discussed above. Table 7 presents
the average lifetimes based mainly on Bulletin F (1942
edition) information and the six additional lifetimes that were
assumed.
BUSINESS STATISTICS
A HE STATISTICS here update series published in the 1961 edition of BUSINESS STATISTICS, biennial Statistical Supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $2.00) contains data by months, or quarters, for the years 1957 through 1960 (1951-60, for major
quarterly series) and averages of monthly or quarterly data for all years back to 1939; it also provides a description of each series and references
to sources of earlier figures. Series added or significantly revised after the 1961 BUSINESS STATISTICS went to press are indicated by an asterisk
(*) and a dagger (t), respectively; certain revisions for 1960 issued too late for inclusion in the aforementioned volume appear in the monthly
SURVEY beginning with the July 1961 issue. Except as otherwise stated, the terms "unadjusted" and "adjusted" refer to adjustment for seasonal
variation.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely. Data from private sources are provided
through the courtesy of the compilers, and are subject to their copyrights.
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1959
1960 | 1961
1959
III
Annual total
1960
I
IV
II
1961
| III
IV
I
II
1962
III
IV
I
II
| III
Seasonally adjusted quarterly totals at annual rates
GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
400.5
415.5
427.8
400.6
403.9
413.9
417.2
416.6
414.4
411.8
424 3
431 3
444 0
448 9
456 7
278.5
293.7
302.2
280.2
283.0
290.6
294.6
295.8
293.9
294.1
300.2
304.5
309.9
315.2
321.7
323.8
do
do
do
do
do
do
do
do
do ___
adjustbil $
258. 5
213. 1
35 4
20.1
46 5
35 1
11.4
11.9
271.3
222.9
9.9
38.5
22.4
46 2
34.2
12.0
11.9
278.8
227.0
10.2
41.6
23.4
47 8
34.8
13.1
12.3
259.9
214.4
9.9
35.7
20.3
46.0
35.4
10.6
11.9
262.5
216.5
9.8
36. 1
20.6
45 9
35.1
10.8
11.9
268.5
221.6
9.8
37.1
22.0
45 2
34.5
10.7
11.9
272.2
224.4
9.8
38.0
22.3
46 9
34 5
12.4
11.9
273.3
2?4 2
9.9
39.1
22.5
46 3
34 91
12
11.9
271.3
221. 6
10.0
39 7
22.6
46 5
33 8
12 7
12.0
271.2
220. 8
10.0
40 4
22.9
46 5
33 7
12 8
12.0
276. 9
225.8
10.0
41 2
23.2
47 2
34 5
129 7
I 2
281.0
228 8
10.0
42 2
23.5
48 1
35 1
13 1
12.3
286.1
232 5
10.8
42 8
23.8
49 5
36 0
13 6
12 5
289.9
235 0
11 2
43 7
25.2
49 1
36 2
12 9
12 6
295.9
240 1
11.2
44 6
25.8
49 5
36 8
12 8
12.8
297.8
241 4
10.9
45 5
25.9
49 7
37 0
12 8
12.9
47 2
45 6
45 5
46 1
46 0
48 6
46 2
44 4
43 3
40 1
45 0
46 0
51 1
50 4
50 7
do
do
do
do
do
. __do_. _
47.7
23.2
24.5
13.7
10.8
45.4
22.4
23.0
14.4
8.6
.2
45.6
22.3
23.3
15.0
8.3
.0
46.5
22.6
23.9
14. 1
9.8
-.5
45.3
22.0
23.3
14.2
9.0
.7
49.2
24.3
24.9
14.3
10.6
-.6
46.4
22.9
23.5
14.2
9.2
-.2
43.3
21.4
21.9
14.4
7.5
1.2
42.8
21 1
21.7
14 5
7.1
.5
39.8
19 4
20.3
14 7
5.6
.3
44.8
21 9
22.9
14 8
8.1
.2
46.3
22 6
23.7
14 9
8.7
-.3
51.4
25 1
26.3
15 5
10 8
— 3
50 1
24 4
25.6
15 8
99
3
50 9
24 9
26.1
15 8
10 3
— 2
National income, totalf
bil $
Compensation of employees, total
. __do
Wages and salaries, total ... __
Private
Military
Government civilian
Supplements to wages and salaries
Proprietors' income, totalcf1
Business and professionalcf
Farm
_
_
Rental income of persons
Corporate profits and inventory valuation
ment total
Corporate profits before tax, total
Corporate profits tax liability
Corporate profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment
9.9
-.5
15 8
16 4
18.1
20.0
16.4
17 0
17 6
17 7
18 2
18 8
19 1
19 8
20 3
21 0
21 5
22 0
22 5
do
482.7
503.4
518.7
482.7
488.5
501.7
504.8
503.7
503.3
500.8
513. 1
522.3
538.6
545.0
552.0
555.3
Personal consumption expenditures, total. .do
313.5
328.5
338.1
316.7
318.8
323.9
329. 9
329.8
330.5
330.5
335.5
340.1
346.1
350.2
354.9
358.2
43 6
18 1
18.9
147.1
27 5
77.7
11 1
122 8
18 1
39 6
10 0
44.8
18 8
19.1
151.8
28 1
79.5
11 7
131 9
19 6
41 8
10 7
43.7
17 2
19.3
155.2
28 6
81.1
11 9
139 1
20 6
43 9
11 1
44.9
18.9
19.2
147.7
27.7
77.4
11 3
124.0
18 2
39.9
10 2
43.1
16 9
19.3
148.9
27 8
78.3
11 3
126 8
18 8
40 3
10 5
45.1
19 0
19.3
150.0
28 1
78.5
11 5
128 9
19 2
40 9
10 6
45 8
19 5
19.2
152.6
28 3
79.9
11 6
131 5
19 6
41 7
10 6
44.5
18 3
19.1
152.5
28 4
79.5
11 7
132 8
19 7
42 2
10 6
44 0
18 3
18.7
152.3
27 8
80.2
11 9
134 2
20 0
42 6
10 7
40 8
15 4
18.4
153.5
28 1
80.3
11 9
136 2
20 2
43 1
10 9
43 5
16 9
19.2
153.9
28 0
80.6
11 7
138 0
20 6
43 6
10 9
44 0
16 9
19.7
156.2
29 0
81.5
11 9
139 9
20 7
44 1
11 1
46 6
19 4
19.8
157.2
29 2
82.1
12 1
142 3
21 0
44 8
11 4
46 3
19 1
19.7
159.9
29 8
83.7
12 1
144 1
21 3
45 2
11 5
47 2
20 3
19.3
161.3
29 8
84.2
12 3
146 3
21 8
45 7
11 5
47 1
19 3
20.1
163.0
30 3
85.3
12 5
148 1
21 9
46 2
11 6
72.7
72.4
69.3
68.8
73.2
79.1
73.5
70.3
66.5
60.1
40 2
22.3
25 9
6 6
40 7
21.1
27 6
4 1
3 7
41 6
21.0
25 5
2 1
1.9
41 0
22.6
26 6
11
1.1
39
21
26
7
7
6
3
4
1
0
40 9
21.5
27 4
10 8
10 6
40
21
28
4
4
7
2
4
4
1
40 5
21 0
27 7
21
17
40 7
20 5
26 8
—1 1
—1 5
Q
Net interest
-
--
do __
Gross national product, totalf
Durable goods, total 0
..do
Automobiles and parts
do _
Furniture and household equipment. .-do
Nondurable goods, total®
do
Clothing and shoes
__do
Food and alcoholic beverages
do
Gasoline and oil
_
do .
Services, total © _ _ _ _
do. _
Household operation
_
_
do
Housing
do _
Transportation
_
do
Gross private domestic investment, total
New construction
_
Residential nonfarm.. .._ ...
Producers' durable equipment
Change in business inventories
Nonfarm _
-.
do
do
...do ..
do.__
_
do
_ _ . - do
6.5
39
19
24
3
—3
67.6
72.4
76.6
75.9
77.4
76.3
3
0
4
6
9
41 0
20 1
24 6
21
18
42
21
25
4
3
43
22
27
6
5
41
21
27
6
6
6
2
6
7
6
44 5
23.3
28 9
4 0
39
46 1
24 3
29 2
10
10
6
9
8
0
8
2
8
4
0
9
do
do
do
22 9
23 6
2 9
26 4
23 5
4 0
27 3
23 3
— .5
23 8
24.3
0
23 8
23 9
14
25 3
23 9
2 4
26 5
24 2
2 8
26 5
23 6
4 9
27 2
22 3
5 3
27 4
22 2
4 0
26 4
22 4
2 8
26 9
24 1
38
28 3
24 5
3 7
28 2
24 5
3 7
29 0
25 3
2 5
28 3
25 8
Govt. purchases of goods and services, total. _ do
Federal (less Government sales)
do
National defense 9
do
State and local
do
97.2
53.6
46.2
43 6
99.7
53.2
45.7
46 5
107.4
57.0
49.0
50 4
97.8
54.0
46.4
43 8
96.5
52.8
46 1
43 7
97.2
52.5
45.4
44 7
99.0
53.1
45 8
45 9
100.8
53.6
45 7
47 2
101.4
53.6
45 8
47 8
104.8
55.4
47 7
49 4
106.0
56.6
49 0
49 4
106.9
56.5
48 4
50 4
112.1
59.5
50 8
52 6
115.2
61.9
53 0
53 3
116.0
62.1
53 2
54 0
118. 2
62.7
54 0
55 5
do
do
_ do
do
do
. _ do
476.1
244.0
91 5
152.5
175 8
56 3
499 4
254.1
95 0
159.2
188 6
56 7
516.6
257.2
94 0
163.3
200 7
58 6
481.5
247.0
93.1
153.9
177 6
56 9
481 4
245.7
91 9
153.8
181 3
54 4
490 8
251.3
94 0
157.3
183 8
55 8
500 4
256.2
96 9
159.3
187 7
56 4
501 5
254.9
94 8
160.1
189 9
56 8
504 4
254.1
94 2
160.0
193 1
57 2
504 4
251.6
90 2
161.4
195 9
56 8
511 0
254.4
92 6
161.8
199 0
57 5
518 3
257.8
94 3
163.5
901 3
59 2
532 6
265.0
98 8
166.3
206 6
61 0
538 3
268.2
99 9
168.4
211 1
59 0
547 9
272.6
102 6
170.0
213 5
61 8
554 2
274.7
103 0
171.7
215 9
63 6
do
do
do
6.6
3.5
3.1
4 1
2.3
1.8
2 1
.0
2.1
1.1
-2.0
3.1
71
2 6
4.5
10 8
8.6
2.2
4 4
2 8
1.6
2 1
10
1.1
—1 1
—3 3
2.2
—3 6
—5 5
1.9
21
—1 3
3.4
4 0
3 4
.6
6 0
3 5
2.5
6 7
35
3.1
4 0
19
2.2
10
19
—.ft
Net exports of goods and services
Exports
Imports
By major type of product:*f
Final sales, total
__
Goods output, total
Durable goods
Nondurable goods..
Services
Construction
__
Inventory change, total
Durable goods- __
Nondurable goods
_ __
__
r
Revised.
fRevised series. Estimates of national income and product and personal
income have been revised back to 1959; revisions prior to May 1961 for personal income appear
on p. 13 of the July 1962 SURVEY.
cf Includes inventory valuation adjustment.
©In-
cludes data not shown separately.
9 Government sales are not deducted,
data back to 1947, see p. 35 of the July 1962 SURVEY.
*For quarterly
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1959
1961
1960
1959
IV
Annual total
November l(»f>2
1961
I960
I
II
III
IV
I
II
1962
IV
III
I
III
II
IV
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.f
Quarterly Data Seasonally Adjusted at Annual Rates
GNP in constant (1954) dollars
Gross national product totalf
Ml. $
428.6
440.2
447.9
431.1
440.9
442.3
439. 7
437.7
433. 9
443. 9
450.4 j 463.4
467.4
470.8
471.6
Personal consumption expenditures, totaL.do
288.9
298.3
304.3
291.9
295. 6
299. 7
299. 1
298. 8
298.2
302. 5
306. 0
310.6
313.9
316.9
319. 0
41.0
138.7
109.2
42.2
141.4
114.7
41.6
143.3
119.4
40.8
139.8
111.3
42.4
140. 6
112.6
43.0
142. 3
114.5
41.8
141.9
115.4
41.8
140. 7
116. 3
39.0
141.5
117.7
41.3
142.3
118.8
41.7
144.4
120. 0
44.4
144.9
121.4
44.1
147.0
122.8
44.6
148.1
124.1
44.6
149.5
125.0
Durable goods
Nondurable goods
Services
j
do__ .
do _
do
do
61.7
60.7
57.8
62.0
66.7
61.5
58. 6
55.8
50.0
56.5
60.4
64.1
63.3
64.1
62.4
New construction
do
34.8
21.1
2.0
33.6
21.8
6.6
34.6
22 6
9.6
34.2
23.3
4.0
34. 0
22. 7
1.9
99 9
do
34.3
22.7
3.7
34.3
Change in business inventories
34.4
21.4
5.9
33.0
20 1
-3.0
34.3
20 2
2.0
35. 6
°1 3
3.5
36.1
22 7
5.4
34.6
22 8
5.9
36.7
23.8
3.7
37.7
24.0
.8
Net exports of croods and services
do
Gross private domestic investment total
— 2. 1
1.5
1.8
-1.1
2
1.0
1.5
3.3
3.5
1.7
•7
1.4
1.3
.7
-.3
Government purchases of goods and services, total
bil. $-.
Federal
do_ _
State and local
do
80.1
43.9
36.2
79.8
42.3
37.4
84.0
44.5
39.4
78.3
42.4
35.9
78.4
42.0
36.4
80.0
42.9
37.1
80.5
42.7
37.8
79.9
41.8
38.1
82.2
42.9
39.2
83.3
44.4
38.9
83.3
44.1
39.2
87.2
46.7
40.5
88.9
48.3
40.6
89.2
48.6
40.6
90.5
49.0
41.5
DISPOSITION OF PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual Rotes
Personal income total
bil. $_
Less: Personal tax and nontax payments
do
Equals* Disposable personal income
_ do
383.9
46.8
337. 1
400.8
51.4
349.4
416.4
52. 8
363. 6
390.2
48.3
341. 9
395.4
51.4
344.0
401. 4
51.9
349. 6
403.1
51.4
351.7
403. 7
50.9
352. 7
405. 4
51.0
354.3
413.5
52. 5
361.0
419.4
53.0
366.3
427.3
54.6
372.6
432. 0
56.4
375. 6
439.5
57.7
381.8
442. 6
58.5
384.1
23.6
20.9
25. 6
23.1
20.1
19.7
22. 0
22. 2
23.8
25. 5
26.3
26.5
25.4
26.9
26.0
8.14
8.92
8.59
8.99
7.89
9.28
8.98
9.53
7.57
8.61
8.65
9.54
8.02
9.50
3.02
1.44
1.57
3.62
1.80
].S2
3.42
1.57
1.85
3.57
1.74
1.83
3.09
1. 55
1.54
3.76
1.88
1.88
3.62
1.80
1.81
4.01
1.95
2. 06
3.00
1.41
1. 59
3.46
1.58
1.88
3. 34
1. 50
1.84
3.88
1.79
2.09
3.14
1.44
1.69
3.69
1.77
1.92
3.61
1.74
1.87
4.13
2.03
2.11
.25
.23
.51
1.42
2.72
.25
.26
.48
1.42
2.89
.24
. 17
.46
1.38
2.92
.27
.22
.55
1.51
2.87
.22
.25
.24
.47
1.50
2.90
.24
.25
.46
1.58
2.99
.21
.17
.41
1.09
2.69
.26
.18
.48
1.39
2.85
•>c
^47
1.18
2.69
.27
29
.55
1.42
2.99
!l6
.47
1.50
2.94
.26
. 16
.50
1.54
3.20
.20
.16
.47
1.06
2.94
^26
.60
1.37
3.30
.28
.23
.47
1.49
3.38
.29
.18
.53
1.52
3.54
do
33.58
35.15
36.30
35.90
35.50
33.85
33.50
34. 70
35.40
35. 70
36.95
do
12.87
6.16
6.71
14.10
7.15
6.95
14.70
7.40
7.30
14.65
7.35
7.30
14.40
6.85
7.55
13.75
6.50
7.25
13.50
6.20
7.30
13.65
6.10
7.55
14.00
6.40
7.60
14.20
6.55
7.60
14.45
6.95
7.50
14.65
7.05
7.60
14.95
7.25
7.70
1.04
.85
2.15
5.48
11.19
1.00
1.00
2.00
5.75
11.35
1.05
1.10
2.15
5.70
11.60
1.00
1.00
1.90
5.60
11.75
.90
1.00
1.80
5.70
11.65
.95
.70
1.75
5.35
11.30
1.00
.70
1.80
5.50
11.05
1.00
.65
1.90
5.65
11.85
1.00
.60
1.95
5.55
12. 35
1.15
.70
2.05
5.15
12.45
1.05
.95
2.25
5.40
12.85
1.10
.95
1.90
5.55
13.55
1.10
.70
1.95
5.50
13.70
3 4, 713
4,670
4,690
4,710
4,720
4,730
4,740
4,750
4. 760
4. 770
4,780
4,790
4,800
31,317
31, 805
7,541
7,549
7,690
8,000
8,078
7,690
7,411
8,082
8,622
8,291
8,030
15, 310
3,107
4,925
791
3,040
14, 723
3,048
5,417
842
3,405
14, 514
2,947
5,462
878
4,051
3,862
754
1,300
196
741
3,801
771
1,347
204
768
3. 836
' 758
1, 375
205
833
3,664
797
1, 368
211
826
3,422
722
1, 327
222
978
3.369
'770
1,309
221
962
3,417
756
1,337
221
804
3,840
699
1,388
216
1,094
3,888
722
1,428
220
1,191
3.920
752
1.388
234
1,050
4,032
743
1,405
222
1,032
2,375
1, 372
926
77
3,882
1,694
850
1,338
3,953
1,475
1,006
1,472
688
364
202
122
658
324
236
98
683
271
209
203
1,134
415
170
549
1,407
684
235
488
1,059
457
120
482
876
269
218
389
845
429
194
222
1,173
320
474
379
947
229
398
320
596
377
330
-111
do
25, 393
27, 984
29, 946
6,715
6, 865
7,055
7,002
7,062
7,400
7,953
6,979
7,614
7,709
7,983
do
do __
do
do
16, 282
7,194
1,054
863
19, 459
7,554
636
335
19, 915
8,151
1,274
606
4,195
1,901
430
189
4, 657
1,827
170
211
4,876
1,909
147
123
4,940
1,843
172
47
4,986
1,975
147
-46
5,061
2,008
133
198
4,768
2, 060
851
274
4,940
1, 951
81
7
5,146
2,132
209
127
5,070
2.189
160
4
290
5,345
2,307
237
94
-4, 155 -3, 333 -1, 859
-826
-684
-998 -1,016
-290
-592
'287
••4
'-539
'-680
Personal savinCT §
_ do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly totals or averages:
All industries
-bil. $..
Manufacturing
Durable goods industries
Nondurable goods industries
Mining
Railroads
Transportation other than rail
Public utilities
_
Commercial and other
_.do
do
do
__ _ do
do
_ __ _ do _
do ...
do
Seas. adj. qtrly. totals at annual rates:
All industries
Manufacturing
Nondurable goods industries
do
Mining
Railroads
Transportation, other than rail
Public utilities
do
do
do
do
BUSINESS POPULATION
Firms In operation, end of quarter (seasonally adjusted)
thous
3
4, 583 3 4, 658
U.S. BALANCE OF INTERNATIONAL
PAYMENTS!
Quarterly Data are Seasonally Adjusted
U.S. payments, recorded.
__mil. $_. 29, 548
Imports:
Merchandise
Military expenditures
Other services _ .
_ _
Remittances and pensions
Govt. grants and capital outflows
U.S. private capital
Direct investments
Long-term portfolio
Short-term
_ _. .
U.S. receipts, recorded
Exports:
Merchandise
Services and military sales
Repayments on U.S. Govt. loans
Foreign capital other than liquid funds
do
do
do
do
do
__do__ _
do
do __
do
Excess of recorded receipts or payments (— ).__do
Unrecorded transactions
Total, net receipts (+) or payments (— )
Major special transactions
do
do
do
412
-602
-3, 743 -3, 925 -2, 461
335
-524
129
285
Total, excluding special transactions
do
-4, 078 -3, 401 -2, 590 '-824 '-680
••Revised.
p Preliminary.
1
Estimates
for
July-Sept.
1962
based
on
anticipated
capital expenditure s of busmess,
2
Estimates for Oct.-Dec. 1962 based on anticipated capital expenditure s of busmess.
Anticipated expenditures for the year 1962 are as follows (in bil. $) : All inclustries, 37.16;
manufacturing, total, 14.57; durable goods industries, 6.98; nondurable goo ds Indus tries,
7.59; mining, 1.10; railroads, .83; transportation, 2.06; public utilities, 5.43; commercia 1 and
other, 13.16.
3 Unadjusted. Data represent firms in operation as of Jan. 1; estimate fo r Jan. 1 1962
-635
'-140
'-159
'-297
'-775 '-1,157 '-1,313
-80
-444
-29
-319
542 -1, 103 -1,008
-366
176
724
193
-910
-75
-400
-1,408
-520
-582
i 9.46 210.19
137.75 2 37. 95
-47
106
-171
-476
-218
100
77
p-720
'-695 '-1,157 '-869
-835
-319
-548
-888
-576
-295
(basec on incoinplete d ata) is 4,752,000.
* Includes chan ges in n<)nliquid Govt. liabilities,
t See corre spending* note on p. S-l ( revisions prior to 3d qtr. 1959 appear on p. 8 ff. of
the Ju ly 1962 SURVEY.)
Personal saving is excess of disposable inconae over j>ersonal <3onsump tion expenditures
showrjL as a coniponent of gross national f >roduct o a p. S-l.
t Revised effective with the June 1962 SUE\^EY; rev: sions pr or to 4tli qtr. 1959 will be
availa ble later
SURVEY OF CURRENT BUSINESS
November 1!H)2
1960 I 1961
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
Monthly
average
1962
1961
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct. r
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME, BY SOURCEf
Seasonally adjusted, at annual rates:f
Total personal income
foil.
1
r
443 5
445 f,
r
298 0
298 6
118.1 '117.9
94 1 r 94 0
r 76 7
76 6
1 17. t
94 («
76 <>
47 0
56 5
12 4
47 0
56 4
12 4
4-7 1
56 7r
12 >
36 9
12 7
37 0
12 8
r 37 o
"•12 9
37 1
13 1
12.8
15 7
29.8
34 2
12.9
15 7
30.0
34 5
12.9
12. <*
16 3
30. 4
35 2
400. 8 1416 4
419.7
423.6
427 8
430 5
428 8
431 9
435 2
438 3
439 7
440 7
441.9
443 0
do
271.3
278 8
281.4
283.6
286.4
288 3
287 4
290 2
292 2
295 3
296 0
296 9
297 8
298 1
Commodity-producing industries, total.do
Manufacturing only
do
Distributive industries
do
110.4
87 4
71.8
110.8
87 5
72 9
111.4
87 8
73 4
113.1
89 4
73.6
115.0
91 1
73 5
114.9
91 5
74 5
113.8
90 8
74 4
115.2
92 0
75 0
116.1
92 8
75 4
118.2
94 4
75 8
118. 2
94 5
76 1
118.1
94 5
76 2
118.4
94 5
76 4
40.7
48.4
11.0
43.4
51.8
11 4
43.8
52.7
11 5
43.9
53.0
11.5
44.2
53.7
11 6
44 9
54 0
11 6
44 9
54 4
11 8
45 1
55 0
12 0
45 3
55 4
12 1
45 6
55 6
45 9
55 8
19 3
46 5
56 0
12 4
46 7
56 3
12 4
34.2
12.0
34.8
13.1
35.2
13.1
35.6
13.5
36 1
13 8
36 2
13 5
36 1
13 1
36 2
12 8
369 4
I 9
36 6
12 8
36 8
12 8
36 8
12 8
11.9
14.4
25.8
29 4
12.3
15 0
27.4
33 4
12.4
15.0
27.7
33 1
12.4
15.3
27.9
33 5
12. 5
15 4
28.1
33 8
12.5
15 9
28.4
34 0
12.6
15 6
28.6
33 9
12. 6
15 8
28.8
33 8
12.7
15 9
29.0
34 5
12.7
15 8
29.2
34 *?
12.8
15 8
29.4
34 9
12.8
15 8
29.6
34 1
9.2
9.7
9.7
9.8
9.9
9.9
10.3
10.4
10.4
10.5
10.5
10.5
10.5
10.5
10.4
10. f,
384.7
399 1
402 3
405 9
409 5
419 7
411 6
414 8
418 0
421 2
499 g
423 5
424 g
425 9
r 426 4
428 3
2,892
3, 061
3, 421
4,849
4 258
3 344
3 944
2 413
2 531
9 248
9 365
2 428
2 792
3 272
3 S27
2,834
1, 259
1,576
395
882
273
2, 937
1 319
1,618
409
918
265
3,315
1 691
1, 624
389
956
263
4,368
4,046
3,245
2,308
850
1.458
383
813
997
2,310
708
1,602
431
904
243
2,153
615
1,538
4129
86
930
2,342
2,407
S73
1, 534
418
854
237
2,717
1 209
1,508
395
857
241
3,181
1 463
1,718
385
1 046
271
3, 543
1 &3S
1, 705
380
1 9t
015
' )4
116
117
116
193
119
136
158
119
95
79
95
66
118
88
96
62
99
81
113
112
113
111
131
136
196
145
171
110
126
118
133
144
142
146
155
176
140
113.9
117.6
121.5
123. 0
114 0
113 6
114.5
101 0
m
123.9
125.9
117 5
116 5
118. 8
116.0
119 6
119 4
118 8
102.2
124.3
190 6
m
i
121 3
110 7
108 7
112 7
m
118.6
$-
Wage and salary disbursements, total
Service industries
Government
Other labor income
Proprietors' income:
Business and professional
Farm
--
do
do
do____
do
--- do
Rental income of persons
do
Dividends
-do
Personal interest income
do
Transfer payments
- __do
Less personal contributions for social insurance
bil. $_.
Total nona°Ticultural income
do. _.
30.2
r 34 5
FARM INCOME AND MARKETINGS^
Cash receipts from farming, including Government
payments totaled
mil. $__
Farm marketings and CCC loans, total
do
Crops
-do
Livestock and products, total 9
do
Dairy products
do
Meat animals
-do
Poultry and egcs.__
do ___
Indexes of cash receipts1from marketings and CCC
loans, unadjusted id
All commodities
1947-49= 100..
Crops
- -do__ Livestock and products
do
Indexes of volume of farm marketings, unadjusted :c?
All commodities
1947-49=100..
Crops
do
Livestock and products
do ._
133
131
135
136
140
389
1 070
282
1 691
1,554
410
858
9
63
3, 179
1 546
1,633
411
9,53
9
33
179
"6
143
166
914
199
133
158
114
131
141
190
151
162
143
201
243
170
188
931
155
146
163
133
146
163
134
106
89
105
67
134
51
i '^Q
i^n
114
82
139
116.4
118.1
118.3
118.2
119.9
2 419
1,949
403
1,238
294
9 291
L755
1 07
|1Q
667
1,675
441
949
251
-I I O
98
r r
1 9^
INDUSTRIAL PRODUCTION *
Federal Reserve Index of Quantity Output
Unadj., total index (incl. utilities)*.— 1957-59=100—
By industry:
Manufacturing total
do
Durable manufactures
do
Nondurable manufactures.
__do
Mining
do
Utilities
.do-
108.7
109. 8
113.6
117.1
115.8
114.0
113.1
108 9
108 5
109. 5
101 6
115.6
109 7
107 0
112.9
109 6
122 8
113 7
110 4
117.8
103 9
117 7
114 1
122. 3
106 0
116 3
115 1
117.9
105 3
m
n
U9 7
1 15 1
112.6
104 6
112 9
112. 5
103 1
m
do
do
do
do
do
109 9
111 0
115.9
109.4
107 6
111 3
119 7
112. 0
112.9
108 3
115 9
117 7
114.4
118.7
110 0
119 0
192 7
126. 5
121.4
111 1
117 0
118 9
128.7
115.8
II 9 9
115 2
1151
127.0
111.3
115 4
113 8
113 9
120. 1
112. 1
113 6
11 (\ 7
1 1 fi Q
do
do-- do
107 6
106 6
108 7
1147
II 9 0
117 5
9
109 4
115 1
U9 Q
H9 1
115 4
119 4
118 5
110 8
115 1
II 6
109 5
115 7
113 4
118 8
do
108.7
109.8
112. 0
113.5
114.8
115.6
114.3
116.0
do
108 9
109 7
H9 1
113 5
115 0
115 9
1144
116 3
Durable manufactures 9
do
Primary metals
do
Iron and steel
__do
Nonferrous metals and products do
Fabricated metal products
do
Structural metal parts
do
108 5
101 3
100 9
102.8
107 6
106 1
107 0
98 9
96 5
107.5
106 5
105 2
109 7
110 0
106 9
110.5
108 5
106 5
111 2
106 7
103 8
113.2
111 3
109 4
113 0
106 2
103 9
115.9
113 5
109 8
114 5
111 0
110 6
119.2
113 3
110 0
113 9
111 9
112 9
117.6
111 0
107 3
115 4
117 5
117 7
122.0
111 9
108 6
110 8
108 8
113.6
110 4
106 5
115.7
119 g
109 6
117.1
113 9
116 8
111 6
123.6
115 6
110 1
122. 9
117 5
119.0
114 7
110 1
120.9
do
do
do
108 2
124 3
93.4
103 6
111 9
95.7
100 5
102 6
97.8
107 0
116 0
98.5
112 2
125 1
100.4
119Q 7
179
100.6
Instruments and related products
do
Clay, glass, and stone products
do
Lumber and products
_ _. _.do
Furniture and
fixtures
...do
Miscellaneous manufactures
do
116. 5
107.8
102 1
115 5
111 2
115.8
106.3
101 3
115 3
II 9 8
118.0
109.7
103 1
119 6
115 8
118.0
108.5
99 9
120 6
117 3
119.4
107.9
101 6
123 2
119 4
119.8
106.0
102
4
193 2
118 3
By market grouping:
Final products total
Consumer goods
Automotive and home goods
Apparel and staples
Equipment, including defense
Materials
Durable goods materials
Nondurable materials
_
Seas, adj., total index (inel. utilities)*
By industry:
Manufacturing total
Machinery
Nonelectrical machinery
Electrical machinery. __
do
__ __ _ do
.do
Transportation equipment _
Motor vehicles and parts
Aircraft and other equipment
108 4
104 8
119 g
106 9
112.1
100.2
113.7
no o
Nondurable manufactures
do __
109 5
115 2
116 5
117 5
Textile mill products
do
105 0
113 3
113 0
113 7
Apparel products, _
do
113.0
111.9
116.5
118. 9
Leather and products
do
99.6
100.6
102.7
104.9
Paper and products
do
117.4
107.7
116.4
118.2
r
Revised.
*> Preliminary.
1
The total and components are annual totals.
tSee corresponding note on p. S-l. cfRevised beginning 1959; revisions prior to May
1961 will be shown later.
9 Includes data not shown separately.
JRevised series. The index has been revised to reflect (1) shift to new comparison base
period, 1957-59 = 100; (2) revision of seasonal adjustment factors back to 1957; and (3) interim
e
116.6
103.7
124.3
114.8
116 1
11 Q 9
I 1 Q £>
118.6
103. o
118.4
1 1 ft K
1187
127. 4
116.1
118 3
m f?
129.3
115. 3
1 1 8 fi
I1K 0
119.1
121.8
m9
121 3
128. 8
119.1
128.4
115. 1
119 1
m
r
120 0
119 4
119 7
117.0
117.7
118.4
116 5
m£
1185
120.6
113 6
110 2
118 5
n9
4
112 6
118.6
116 3
113 7
1189
im '%
96 5
120.8
117 4
115 7
1 94 ^
i 90 0
107 ^
111 3
120 8
1 99 '-?
1 91
119.3
119.6
119.8
119.5
119 7
1 90 9
118 7
96 6
87 8
117.9
118 8
115 6
119 8
99 1
99 i
112.7
119 9
115 2
94 0
116.8
119 6
116
120
121 8
131.3
195 4
121 9
130. 1
126 5
124 6
129. 0
122 i
141 3
104.7
192 2
138 4
107.3
1 99 4
139 0
107. 4
1 4(1
124.9
113.7
103 4
127 7
126 9
125.8
114.9
107 4
128 3
123 3
124.3
115.6
107 4
129 3
123 0
123
115
117 7
%
Q
89 5
118.2
1 18 5
116 4
199 Q
124.3
117 8
129.7
119 5
126 9
99.6
113
4
196 2
101.5
113
4
196 3
101.4
116 8
134 4
m
m.7
139 1
101.6
116 8
139 0
103.0
118.9
104.4
96 5
118 3
116 9
118.5
105.1
109 2
120 g
115 5
119.0
104.8
107 9
124 0
119 0
122. 3
110.3
106 4
126 6
195 5
122. 6
111.9
107 1
129
3
195 2
124.7
112.5
107 5
129 2
125 5
A
1 94 7
138
125
J90 2
130.4
112 8
123. 5
106 4
128.6
123. 6
12° 2
115 2
126.8
H9 4
e
1 9^ Q
199 O
n
1 1C
(\
199 7
129.6
128
108
127
190 3
118 6
121 0
117 5
119 6
120 6
120 7
116 8
115 0
117 1
116 6
116 1
116 5
11 ^ 1
116.5
118.3
117.6
119.2
118.4
118.2
104.0
105.5
102.9
100.5
100.6
103.8
120.7
117.5
121.1
119.9
119.6
120.5
121.3
adjustments in the annual levels of eight series (apparel, food, and chemical groups) since
1957. For figures back to Jan. 1947 for total and summary groups (seasonally adjusted) and
a detailed description of the current revision, see the Oct. 1962 Federal Reserve Bulletin; other
information and earlier figures for all series will appear in the forthcoming separate Federal
Reserve publication, "Industrial Production—1957-59 Base."
117 7
114 1
119.8
107.3
119.3
115 9
113 4
115.5
100.1
117.3
117 3
114 6
116.0
103.0
119.0
SUKVEY OF CURRENT BUSINESS
S-4
1960
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
| 1961
Monthly
average
November 1002
1962
1961
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct. p
116.5
111.3
138.7
117
112.6
111
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION J— Continued
Federal Reserve Index of Quantity Output— Con.
Seasonally adjusted indexes— Continued $
By industry— Continued
Nondurable manufactures— Continued
Printing and publishing
1957-59=100..
Newspapers
do
Chemicals and products
do _
Industrial chemicals . „ _ - _do
Petroleum products
do
Rubber and plastics products
Foods and beverages
Food manufactures
Beverages
Tobacco products
Minin^
Coal
Crude oil and natural gas
Crude oil
_
Metal mining
Stone and earth minerals
Utilities
Electric
Gas
_
--
By market grouping: \
Final products total
Consumer goods
Automotive and home goods
Automotive products
Autos
.
_
Auto parts and allied products
Homo goods 9Appliances, TV, and radios
Furniture and rugs
110.0
107.3
116.6
120.1
106.5
111.5
106.0
123.3
129.6
108.7
112.3
106. 5
126.7
134.2
108.1
112.6
106.7
129.0
138.7
111.7
113.1
107.6
130.0
139.1
111.3
113.0
107.9
130. 0
139. 0
110.7
113.5
108.6
128.4
138.6
112.2
114. 2
109.4
131.1
140. 4
111.1
114.1
108.6
131.8
141.0
114.0
114.4
107. 5
131.6
142.2
109.6
114.9
107. 9
135.7
145.8
112.6
114.7
108.6
137.1
147.7
115.1
115.7
110.3
137.6
149.7
113.4
116.3
111.8
137.9
149.8
112.1
do
do
do
do
do
111.0
106.6
106.9
104.9
107.4
111.9
110.3
110.6
107.9
110.8
116.8
111.5
111.8
109. 1
110.8
120.3
111.9
111.8
111.4
113.8
120.8
112.8
113.1
110.1
114.1
125.1
112. 0
112.4
108.7
112.4
119.6
111.4
112.0
108.1
109.1
120.5
111.7
112.2
109.3
111.1
119.9
113. 2
113.4
112.2
116.8
124.0
112.3
113.6
105.2
110.3
130. 2
112.9
113.9
107. 3
112.5
132.8
112.9
113. 5
109.4
108.2
136.1
114.3
115.1
109.7
113.4
134.1
113.7
115.2
105.9
112.0
113.9
115.2
do
...do
-do _
--do ...
do .
do
101.6
93.7
101.0
100.9
111.8
109.8
102.6
90.1
103.1
103.0
111.9
109.4
102.4
93.2
102.3
103.1
108. 5
111.8
104.4
94.9
104.1
103.8
115.5
111.3
105.2
96.9
104.6
103.2
122.4
107.7
104.7
96.9
104.4
102.8
125.0
102.2
104.0
98.0
103.9
102. 7
129.4
94.5
104.3
95.2
103. 8
103.2
131.7
100.6
104.8
96.3
104. 2
102. 4
128.9
102.7
105.5
97.6
105. 3
104.1
120.0
106. 9
104.8
92.2
104.7
104.1
116.6
115.1
104.6
91.8
105.3
105.6
109.5
113.8
106.1
91.8
107.4
107.7
110.4
114.5
105.5
93.7
106.2
106.7
104.1
117.9
106.0
93.8
107.5
108. 1
99.9
118. 3
105. 3
94
107
107
do
-do _
do...
115.6
115.7
115.1
122.8
123.2
121.5
125. 7
126.0
124.8
126.5
127.2
124.4
126.7
127.3
124.7
127.3
128. 0
125. 4
128. 8
129.8
125. 5
129. 0
129.6
126.9
128. 8
129. 5
126.5
128.1
129.3
124.2
129.8
131.8
123.6
132.4
135.1
123.8
133.5
136. 2
132.3
134.5
133.0
134.0
do
do
do
109.9
111.0
115. 9
111.3
112.7
112.0
112.6
113.4
110.5
114.8
115.9
116.2
116.4
117.5
121.8
116.9
117.9
124.6
115.7
116.5
122.6
116.8
117.3
121.8
118.2
118.8
122.7
118.5
119.1
126.5
120.2
121.1
128.9
120.6
120.9
126.5
121.7
121.7
127.9
121.6
120. 9
126. 5
121.5
121.0
127.8
121.6
120.7
127
do
do _
do
123. 2
131.4
112.5
111.8
108.6
116.0
102.8
91.8
117.2
116.4
114.4
119.0
127.3
131.5
121. 6
130.8
136.1
123.7
127.8
132.8
121.1
123. 7
125. 5
121.4
122.6
123.8
121.0
129.4
133.9
123. 5
132. 8
140. 8
122. 3
126.8
129.3
123.6
135. 2
142.4
125.7
134.1
140. 0
126.3
135.3
141.2
127.5
135
142
do
. _do___
do
110.8
108.8
111.9
112.2
109.9
112.8
115.9
114.1
118.4
116.0
113.8
118. 5
117.9
115.7
120. 7
120. 3
116.3
120.1
118.8
114.0
118.5
120.4
116.0
121.0
122.6
120.3
121.5
124.4
123.8
123.8
126.0
124.2
124. 5
126.2
123.3
126.5
122.7
118.5
124.3
121.2
115.2
125.4
122.4
115.5
127.9
109.4
108.6
109.6
106.9
112.9
109.0
114.0
110.5
114.3
110. 1
115. 5
112.0
115.8
112.6
116.7
112.8
116.1
113.9
116.8
112.7
115.8
114.6
116.1
111.6
114.6
110 2
115.8
111.3
115.9
113.2
116.6
111.5
117.6
116.0
118.0
113.2
117.0
116.5
117.1
113.6
118.4
117 1
118.8
114.3
118.9
118 0
119.2
112.8
119.8
118.0
120.3
115.9
119.0
116.5
119.7
115.2
118. 9
119
119.9
115.2
120
105.7
115.3
111.7
112.8
109.5
120.7
114.9
119.2
110.2
122.9
116.2
120.7
112.8
123.7
116.6
122.4
112. 1
125.2
115.9
122.5
110.7
125.2
115.2
122.7
108 4
123.6
116.2
124.2
109.9
126.6
116.9
124.3
113.7
127.5
116.6
124.8
106.9
125.8
115.7
125.1
109 1
129.9
117.4
126 9
109 0
131.9
117.7
130 7
110.9
131.5
117.7
128. 3
108.0
131.0
117.0
127.0
132. 0
117.4
129.4
107.6
110.2
109.6
120.9
106.1
87.2
108.3
110. 1
107.4
127.0
103.4
93.4
110.8
112.7
108.4
129.0
107.9
91.1
112.4
114. 1
110.4
131.0
109.7
85.1
114.1
115.8
111.8
133.7
113.7
91.3
114.9
116.4
113.4
135.2
113.8
90.3
112.7
113 4
112.2
136.3
107. 0
87.8
115.0
116.3
113.4
139.3
109.0
94.3
116.1
118.0
114.2
141.7
111.6
99.9
117.0
119.3
115.1
144.0
109.7
102.6
118 5
121 2
116 7
144.4
111 2
105.6
120 1
123 1
118 5
144.8
114 9
110.4
121.8
124.4
119.0
145. 6
121.0
110.4
123.2
125. 5
119.2
144.7
123.5
110.8
123.5
125.8
119.4
145.1
124.0
101.9
124.2
127
107.6
106.6
117.6
105.4
106.3
108.4
104.8
107.9
105.7
105.2
110.9
107.6
106.7
108.4
107.3
112.9
110.2
109.3
111.1
107.9
113.9
110.9
114.0
111.7
107.5
114.8
111.8
120. 3
113.4
106. 5
113 7
110.8
120.5
113. 1
103.0
115.5
113. 1
119.2
114.5
107.3
116.9
115.1
124.1
116.9
109.9
117. 1
116.2
134.7
120.3
110.7
117 0
114 6
134.5
119 5
111 4
117 1
113 7
127.0
120 8
111.8
117.0
113.8
134.2
119.3
112.1
117.7
114.8
130.6
119.2
112.6
118.2
115.0
131.8
121.3
113.4
117 4
115
108.7
108.3
105.4
109.8
112.1
110.5
111.3
110.0
114.3
111.3
114.0
110.0
115.7
112.3
114.6
111.2
116.9
114.2
117.2
112.7
118.0
114.9
117.1
113.8
116 6
113 1
114. 1
112.6
117.8
115.0
116.7
114.2
118.6
115.8
119.7
113.9
117.9
114.1
113.1
114.6
119 3
116 1
115 9
116 2
120 5
116 9
117 5
116 6
120.3
116. 1
117.2
115.5
120.7
116.5
116.4
116.6
121.5
117.8
119.2
117.1
120
104.7
100.8
114.8
107.1
102.0
121.0
108.3
102.3
123.9
109.7
103.8
124.7
110.1
104.1
125. 4
109.9
103.4
126.0
110.5
103 7
127 5
110.5
103.2
128.0
110.2
103.2
128.0
110.9
104.6
127.7
110 9
103 6
130 2
111 8
104 5
131 4
112.6
106.1
130.9
112.0
105.5
129.1
112.6
106.6
112
106
61. 04
i 61. 52
61.57
63.20
64.40
63.94
63.96
64. 54
65.25
66.14
66 32
65 18
66.43
r
Apparel and staples
_
_ do
Apparel incl knit goods and shoes do
Consumer staples
do
Processed foods
... _ _ do
Beverages and tobacco
do
Drugs soap, and toiletries
_ do _
Newspapers, magazines, books do _ _
Consumer fuel and lighting
do
Equipment, including defense 9
- do _
Business equipment
do
Industrial equipment
do
Commercial equipment _ _ _ _. .do
Freight and passenger equipment do
Farm equipment
_ _ _ do
Materials
Durable ffoods materials 9
Consumer durable..
Equipment
_.
Construction
Nondurable materials 9
Business supplies _
Containers
General business supplies
-
do
do
do_. _
-do _ _
do
- do
do
do
do _
Business fuel and power
do___.
Mineral fuels
_
_ .do
Nonresidential utilities
do
BUSINESS SALES AND INVENTORIES §
Mfg and trade sales (seas adj.), totalcf
bU $
1
66. 01
66 80
Manufacturing total
Durable goods industries
__
Nondurable goods industries
do
do
do
30 41
14.68
15.73
30.73
14.54
16.18
31 36
14. 95
16.40
31 75
15.27
16.48
32.18
15.62
16.56
32.40
15. 66
16.74
32.04
15.50
16.54
32. 85
15. 95
16.89
33.22
16. 33
16.89
33. 48
16.40
17.08
33 50
16 40
17 10
32 96
15 89
17 08
33 40
16.33
17.08
r
33 29
T
16. 35
r
16. 93
33 68
16.40
17.28
Wholesale trade, totalcf
-Durable goods establishments _
Nondurable goods establishments
Retail trade, totaled
.
Durable goods stores.
Nondurable goods stores.
do
do _
do.. _
do
do
do
12.33
4.44
7.89
18.29
5.89
12.40
12.56
4.28
8.27
18.23
5.61
12.63
12.08
4.17
7.91
18 13
5.61
12.52
12 87
4.35
8.52
18 58
5.86
12.72
13.12
4.46
8.66
19.10
6.19
12.91
12.72
4.40
8.32
18.83
5.92
12.91
13.08
4.55
8.53
18.84
5.92
12.92
12.73
4.53
8.20
18.96
5.98
12.99
12.76
4.47
8.29
19.27
6.18
13.09
13.06
4.59
8.48
19. 60
6.33
13.26
13.38
4.60
8.78
19.43
6.17
13.26
13.13
4.52
8.60
19.09
6.03
13.06
13 35
4.64
8.71
19 68
6.38
13.30
T
13 16
T
4 49
-•8.67
19 57
'6. 13
13.44
13 46
4 65
8.81
19 66
6.11
13.55
Mfg. and trade inventories, book value, end of year
or month (seas, adj.), total fbil. $..
94.13
95.54
94.26
94.62
95.12
95.54
96.17
96.70
97.05
97.26
97.52
97.88
98.15
97.90
98.18
53.74
30.86
22.88
55.20
31.47
23.72
54 44
31.10
23.34
54.78
31.40
23.38
55.03
31.53
23.50
55.20
31. 47
23.72
55.73
31.88
23.84
56. 18
32.19
23.99
56.57
32.41
24. 16
56. 69
32.47
24.22
56 81
32.58
24.23
56.91
32.58
24.34
57 00
32 63
24.37
56 97
32 69
24.28
57 13
32 69
24.45
Manufacturing, total
Durable goods industries
Nondurable goods industries
_do
do
..do
13 44
13.34
Wholesale trade, totalcf do _
13.21
13 48
13.48
Durable goods establishments.—
do _
6.81
6.89
6.82
6.80
6.80
6.66
6.54
Nondurable goods establishments
do
6.40
6.63
6.60
26.86 26.34
26.40 26.75
27.18
Retail trade, total t
do _
Durable goods stores _
do
11. 52
11.26
11.25
11.44
12.33
15.34 15.09 15.14
Nondurable goods stores
do
14.85
15.32
'Revised.
* Preliminary.
* Total and components are based on unadjusted data.
t See corresponding note on p. S-3.
9 Includes data not shown separately.
r
T
r
13.62
13.70
13.58
13.48
13.70
13 78
13 89
13 97 r13 88 13 86
6.83
6.86
6.87
6.89
6.88
6.95
6.97
7 03
7 01
7 04
6.79
6.84
6.73
6.82
6.83
6.60
6.91
6.94
6.87
6.82
26.78
26.87
26 94
26.86 26.86 26.90
27.08
27 18 rr 27 05
27 19
11.52
11.52
11.48
11.38
11.43 11.42
11.45
11.59
11 51 11 64
15.40
15.34
15.42
15.34
15.44
15.52
15.62
15.59 ' 15. 54 15.55
§ The term " business" here includes only manufacturing and trade. Business inventories
as shown on p. S-l cover data for all types of producers, both farm and nonfarm. Unadjusted
data for manufacturing are shown on p. S-5; those for retail and wholesale trade on pp. S-ll
and S-12.
cf See note marked "f" on p. S-ll.
t Revised series. See note marked " J" on p. S-ll.
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through I960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
Monthly
average
1961
Sept.
Oct.
1962
Nov.
Doc.
Jan.
j Feb.
Mar. ! Apr.
May
June
July
A us-.
Sept.
Oct.
GENERAL BUSINESS INDICATORS Continued
BUSINESS SALES AND INVENTORIES— Con.
In von tory -sales ratios:*
Manufacturing and trade total
Manufacturing, total
Durable goods industries
Purchased materials
Goods in process
Finished goods
Nondurable goods industries
Purchased materials
Goods in process
Finished goods
Wholesale trade, total
Durable goods establishments
Nondurable foods establishments
Retail trade total
Durable goods stores
Nondurable °'oods stores
ratio
1. 53
1 50
1 48
1 49
1 50
1 50
1 49
1 47
I 47
1 50
1 48
do
do
do
do
do
1.74
2.08
53
.83
1 73
2. 00
53
82
70
1 71
2 02
91 74
1 70
1 99
59
79
07
1 70
1 99
53
79
07
1 73
2 05
54
82
09
1 71
9
00
54
8'-'
70
1 71
9
. 02
53
81
08
1 09
98
81
09
1 70
2 019
5
81
09
80
08
80
08
do
do
do
do
1.42
55
. 20
.07
9
1 4
54
. 20
08
1 42
54
.20
07
1 42
54
.20
07
1 41
1 42
1 42
55
07
49
50
°0
00
20
07
1 43
55
9
1
07
r 1 43
20
08
1 43
50
1 43
20
08
do
do
do
do
do
do
1. 12
1. 04
84
1.45
2. 01
1.20
1.04
1 50
78
1 42
1.92
1 19
1 . 02
1.52
70
1.40
1.85
1.19
i.or.
1 57
79
1 43
1.95
1 19
1.04
1 51
79
1 43
1.95
1 19
1.00
1 51
83
1 49
1 92
1 19
1 07
1 539
8
1 39
1 84
1 18
05
50
80
37
81
10
1 03
1 51
1 05
1 5?
80
1 3g
1 89
1 17
r
r
1 39
1 85
1 17
1 00
1 54
80
1 42
1 990
1 0
"9
oo
79
07
9Q
90
00
T
1 48
1 47
1 71
2. 00
1 70
1 99
51
81
07
55
21
08
1 41
54
20
07
I 00
1 50
79
1 38
1 88
1 10
03
51
* 34. 03
33 44
1 5. 90
r
2 09
38
91
15
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Sales value dm ad justed'), total
Durable goods industries, total 9
Primary metal
_
- nil. $ .
30. 41
30.73
32.01
33. 42
32. 1 8
31.21
31. 43
30 02
34 50
33 17
34 07
33 95
31 34
_ do
_.do ._
14. OS
2.1/1
1 34
1.07
14. 54
2. 00
1 25
1.08
1 5. 09
2. 18
1 35
1.88
15.97
2 20
1 38
1 89
15.00
2. 17
1 30
1 79
15.35
2. 18
1 35
1 02
15.09
2. 33
1 47
1 04
14 80
9
20
1 49
1 50
179 00
01
1 08
1 80
10
2
1
1
17 94
2 31
1 38
10 83
2. 15
1 91
0
03
15
1
1
1
4.72
1.95
1. 10
4. 87
2. 00
2.87
1 . 25
5. 03
2.11
2. 92
1.2S
5 22
2 ''4
2 98
1 . 37
5. 03
2. 19
? 84
1 . 34
5. 14
2. 21
9
93
1.37
4. 84
2. 04
9
80
1. 22
4 95
2 05
0
90
3. 45
2.10
.80
. 73
3.24
1.94
. 82
. 70
3.07
1.72
. 90
.83
3.54
3. 82
2.43
70
.08
:,,
3 55
2.18
78
9 59
.92
.89
3.84
2. 50
.87
.80
15.73
10.18
10. 92
17.45
10. 53
15. 80
10. 34
15.70
17. 50
1 0. 70
17.43
17.13
1 0. 29
4.70
.40
1.21
1.00
2.31
3. 18
.51
4.80
.42
1. 22
1.13
2.49
3.21
.50
5.00
.42
1.33
1. 17
2. 07
3. 13
.50
5. 10
.44
1.38
1.21
2.75
3.24
. 50
4 . 89
45
1.32
1.10
4.73
. 41
1.29
1. 17
2. 03
3. 38
. 53
4 58
37
1 31
19 12
50
3 00
.49
5 02
11
1 40
1 27
3. 1 0
.50
4.70
. 40
1 . 25
1. 11
2. 39
3.3!
.49
4 84
41
34
1 18
2 $3
3 00
50
5 15
40
1 37
1 2'?
3 00
3 19
59
5 14
44
1 940
19 3
78
3 14
.57
4 91
-1.5
1 91
19 10
58
3 10
53
do
31 30
31 75
39 18
32 40
32 04
39 85
33 4£>
33 150
39 oo
33 40
r 33 9()
33 08
do
15 27
2 10
1. 31
1 75
15 02
15 00
9 97
1 95 89
00
1 1C)
1 8<)
109 33
04
1 17
1 90
r 10 35
r9
00
1 40
1 Sf)
15
•)
1
1
10 40
1 31
1 80
50
27
42
80
10 40
9 ]()
15
2
1
1
1 0 4( )
9
05
1 19
1 99
5
'>
3
1
5
2
3
1
5
2
9
1
10
13
97
30
5 37
r 5 3X
_
_._
Fabricated metal
do
Machinery
Electrical
Nonelectrical
Industrial _
do
do
do
_ do
.
_ _
_ ___
Transportation equipment _ ___
- do __
Motor vehicles and parts.. _. ._ --do
Lumber and furniture
do
Stone, clay, and glass
. _ _ _ _ d o ..
Nondurable goods industries, total 9
do
Food a n d beverage _ _ _ _ _ _ _ . _ _ _ _
Tobacco
Textile
- _
Paper _ _ .
___ _ ___
. ___ __
Chemical
Petroleum a n d coal
_ _ _ _ _ _
Rubber _ _ _ _ _ _
_._
Sales value (seas ad] ) total
do
do
do
do
do
do _
do
2. 35
Iron and steel
Fabricated metal
do
do
Machinery
Electrical
Nonelectrical
Industrial
do
do
do
do
4. 94
2.00
2 94
1 . 29
5
2
3
1
Transportation equipment
Motor vehicles and parts
Lumber and furniture
Stone clay and glass
do
do
do
do
3 34
9
00
.83
79
39 53
23
84
81
3 O9
3 55
2 29
88
83
9 99
9 ()9
87
80
do
10 40
10 48
1 0 50
1 S4
42
27
14
53
21
52
4 83
44
1 25
1 14
2 03
3 28
51
4 84
43
I °7
1 19
2 05
3 17
54
54 59
55. 19
55 98
30. 99
4 8°
2. 99
9 97
31.23
4 91
3. 05
3 00
31. 84
4 91
3. 02
3 r>
Nondurable goods industries total 9
Food and beverage
Tobacco
__
Textile
Paper
Chemical
Petroleum and coal
Rubber
.
do
do
do
do
do
do
do
Inventories, end of year or month:
Book value (unadjusted), total
Durable goods industries, total 9
Primary metal _ _ _
Iron and steel
Fabricated metal
__
Machinery
Electrical _ _
NonelectricalIndustrial
Transportation equipment
Motor vehicles and parts
Lumber and furniture-, __ .
Stone, clav, and glass
By stages of fabrication:
Purchased materials
Goods in process
Finished goods,
_ _.
_
r
do
2 53. 90
do
do
do
do
30. 81
4.09
2.81
2.98
do
do
do
do
_
do _
do
do
do .
_
1
1
2
3
do
do
do
10. 27
3.94
0. 33
2 48
0. 97
3.14
1.83
1.43
8.20
12. 05
10. 50
2
04
04
00
30
55. 19
53. 70
54. 23
31. 23
4.91
3.05
3.00
30. 05
4 02
2.82
3 03
30. 80
4 74
2.92
2 98
10
3
0
2
31
90
35
40
0.93
3 22
1.84
1. 40
8.13
12. 50
10. 54
10 08
3 90
0 1?
9
42
0
3
1
1
92
10
84
43
8.01
12. 38
10. 20
10
3
0
2
15
97
IS
44
7
3
1
1
01
22
82
41
8.09
12. 50
10 27
11
10
00
34
30 "
3 98
0 94
9 44
0
3
1
1
99
1Q
81S)
4
8. 11
1 2. 5''
10 30
2
Revised.
1 Advance estimate.
Total and components are end-of-year data.
*Stock-sales ratios are based on the seasonally adjusted sales and inventories series
presented on this page and on pp. S-4, S-0, and S-ll. The ratios are derived by dividing
^nd-of-month inventory book values by total sales during the month. Data back to 1955
5 04
5 01
9 97
2 V>
9 9()
3 37
1 47
3 °5
1 30
4 03
3 94
2. 47
88
79
88
7fi
95
41
59
83
9 01
5 37
OS
14.95
2 21
1.30
1. 70
Durable goods industries total 9
41
37
47
80
9 84
3 °7
57
33 99
') 40
1 00
1 8r)
3 40
1 44
5 59
9' .,5
3 34
1 43
4 93
2 70
91
87
3 90
'1 42
94
90
9 1')
1 49
1 84
1 33
1 99
r
2 19
10 01
2. 00
1 18
2 07
4 87
1 92
9
95
1 30
r
r
r
5. 38
2 22
3 15
1 . 38
5. 33
9 93
3 OQ
1.38
3 08
2 33
83
84
r
r
2 95
1.47
00
79
03
8^
r 1 24
. 95
3 49
2 00
94
84
18.07
17. 44
47
1 44
1. 28
2 83
3. 20
49
1 l>44
1 3
r 1 05
r
r
r
r
r
r
r 1
9()
r 1
88
9 7g
3 07
55
30
9
1
09
37
5y
5 4°
9 99
3 (jO
9 25
3 04
1 3°
5
2
3
1
85
80
3 00
9 10
88
80
3 "w
o 33
88
78
3 9°
9 43
89
80
3 90
9 50
90
10 74
10 51
10 89
1 0 S9
1 7 08
17 10
4 94
40
1 34
1 22
2 00
3 15
53
4 SO
43
1 33
1 19
2 00
3 19
4 95
43
1 37
I 91
1 9°
49
1 37
5 07
44
11
1 19
5 oo
44
1 39
1 18
3 jo
54
3 90
50 87
57 00
57 1 4
57 08
50 <)'"
r 50 04
50 09
32. 70
4 87
9 99
3 32
32. 82
4 80
2. 80
3 38
32. 90 i
4 78
2. 84 1
3 4]
:«.KT
:«.*,
r
32. 55
32. 42
2. 85
2. S3
3 13
13
10
02
35
3 48
10
3
0
9
31
90
35
40
10
4
0
2
40
0°
44
19
0
3
1
1
93
22
84
40
7
3
1
1
14
30
80
49
8.13
12.50
10. 54
8.25
12. 73
10 SO
9
}8
3 17
50
32. 33
4 90
2. 99
3"
10 07
4 10
6 50
9
7
3
1
1
5>>
9
4
44
849
5
8.31
12. 95
1 1 00
1 99
9 79
3 18
10
4
0
2
7
3
1
1
88
?9
TO
00
1 33
, 9Q
9
10
3 10
1 3''
9
r 9
1<)
3 m)
r 4
1 05
00
8(i
S3
• ) 35
88
SI
9
5()
T
()]
r
^
r 5 () J
r
44
5 01
jj
1 3^
9
1 0
• ) 71
1 3''
1 3~
1 17
3 j^
T
1
4 70
2. 84
3 4()
3 1S
4 78
2. 80
3 3j
r
3
340
1 89
1 55
7
3
1
1
24
41
83
55
7
3
1
1
0
3
1
1
8. 50
13.07
8. 53
13.00
i 1 34
l^
r 3 90
1
1 O
4 4( ]
09 01
01
11 3Q
1 93
3 94
51
1
14
30
84
54
] js>
5 !4
43
9 "J
1 41
0 06
9
01
8. 43
13.05
01
90
SO
9 ~()
10
39
72
04
11 33
9
1 " OS
11
4
0
2
8.42
13.00
5 37
17
3 90
14
9
05
r 9
53
11 9Q
lg
3 90
1 38
3 18
1 49
1 0 99 7
4 9
0 08
o 01
9
5
45
84
54
3 17
1 37
r
9"
10
87
53
8. 59
12.89
11 n^
' 4 41
•> 'c\
r '<
in
• I ''n
!,' 7'.
1 ^4
1 50
1 ^4
1 49
8. 00
r
13.11
r ia «R;
8. 50
13. 22
in 7n
r
for the manufacturing and wholesale trade segments appear on p. 20 of the June 1901 S U R V E Y ;
data prior to 1901 (recently revised) for total manufacturing and trade and for retail tra<li>
are available upon request.
9 Includes data not shown separately.
SUEVEY OF CURRENT BUSINESS
1960
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1961
End of
year
November
1961
Sept.
Oct.
1962
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS'SALES,INVENTORIES,
AND ORDERS— Continued
Inventories, end of year or month— Continued
Book value (unadjusted) — Continued
Nondurable goods industries, total 9 -_. bil. $..
Food and beverage
Tobacco
Textile
Paper
Chemical
Petroleum and coal
Rubber
By stages of fabrication:
Purchased materials
Goods in process
Finished goods
do
do
._ do
do
do __
do
do._
do__ .
do
do
. _.
Book value (seasonally adjusted), total
Durable goods industries total 9
Primary metal
Iron and steel
Fabricated metal
-
Machinery
Electrical
_
Nonelectrical
Industrial
Transportation equipment
Motor vehicles and parts
Lumber and furniture
Stone, clav, and glass
By stages of fabrication:
Purchased materials
__
Goods in process
Finished goods
23.60
23.96
24.14
24.18
24.17
24.19
24.18
24.22
24.12
' 24. 08
24.26
5.39
2.07
2.61
1.65
4.16
3.50
1.10
5. 46
2.11
2.64
1.66
4. 23
3. 46
1. 11
5.44
2.28
2. 68
1.68
4. 35
3.43
1.13
5. 40
2.34
2.78
1.70
4. 35
3.31
1.16
5.27
2.31
2.83
1.73
4.41
3.30
1.19
5.18
2.27
2.89
1.75
4.44
3. 31
1.21
5. 15
2.20
2. 91
1. 76
4. 41
3. 35
1.21
5.10
2.14
2.96
1.77
4.33
3.37
1.20
5.12
2.07
2.91
1.78
4.34
3.40
1.20
5.16
1.99
2.86
1.74
4.35
3.45
1.19
'5.32
2.02
'2.79
'1.73
'4.32
3.45
'1.18
5.48
2.10
2.74
1.71
4.30
3.52
1.19
8.99
3.00
11.10
9.38
3.27
11.31
8.69
3.28
11.14
8.85
3.28
11.25
9.03
3.30
11.26
9.38
3.27
11.31
9.51
3.36
11.26
9.53
3.39
11.26
9.60
3.41
11.16
9.55
3.44
11.20
9.42
3.51
11.26
9.31
3.53
11.37
9.22
3.60
11.30
' 9. 08
'3.54
'11.47
9.15
3.52
11.59
' 56. 97 57.13
do
53.74
55.20
54.44
54.78
55.03
55.20
55.73
56.18
56.57
56.69
56.81
56.91
57. 00
30.86
4.50
2.62
3.12
31.47
4.78
2.89
3. 16
31.10
4.67
2.85
3.12
31.40
4.73
2.86
3.14
31.53
4.74
2.86
3.15
31.47
4.78
2.89
3.16
31.88
4.84
2.94
3.23
32.19
4.89
2.98
3.25
32.41
4.91
2.98
3.27
32.47
4.86
2. 93
3.29
32.58
4.85
2.92
3.26
32.58
4.83
2.91
3.22
32. 63 ' 32. 69 32.69
4.80
'4.77
4.75
2.89 '2.86
2.83
3.23 '3.22
3.20
do_
do
do
do
10. 40
4.02
6.38
2.51
10. 46
4.03
6.42
2.49
10.23
3.99
6.24
2.43
10.36
4.06
6. 30
2.47
10.42
4.07
6.34
2.47
10. 46
4.03
6.42
2.49
10. 56
4.12
6.44
2.52
10.65
4.14
6.51
2.53
10.76
4.21
6.55
2.58
10.81
4.24
6. 57
2.58
10.85
4.25
6.59
2.60
10.89
4.32
6.58
2.58
10. 96
4.34
6.62
2.60
6.85
3.01
1.84
1.44
6.87
3. 12
1.86
1.47
6.97
3.19
1.85
1.49
7.01
3.18
1.86
1.49
7.04
3.17
1.85
1.48
6.87
3.12
1.86
1.47
7.00
3.24
1.86
1.48
7.12
3.32
1.84
1.48
7.14
3.39
1.84
1.49
7.22
3.49
1.82
1.49
7.29
3.50
1.84
1.50
7.29
3.52
1.84
1.52
7.24
3.42
1.85
1.53
do__ _ 8.05
12.06
do
10.76
. -do
8.09
12.64
10.74
7.96
12. 40
10.74
8.07
12.59
10.74
8.08
12.70
10.76
8.09
12. 64
10.74
8.32
12.64
10.93
8.40
12.89
10.90
8.55
12.97
10.89
8.59
12.94
10.95
8.62
13.00
10.96
8.55
13.02
11.01
8.49
13.10
11.04
7.29
3.42
1.84
1.54
'8.45
' 13. 15
'11.09
8.43
13.22
11.03
23.34
23.38
23.50
23.72
23.84
23.99
24.16
24.22
24.23
24.34
24.37
24.28
24.45
5.24
2.17
2.74
1.68
4.28
3.42
1.13
5.15
2.05
2.74
1.70
4.20
3.42
1.12
5.15
2.06
2.74
1.70
4.20
3.39
1.13
5.19
2.12
2.75
1.70
4.21
3.37
1.12
5.24
2.17
2.74
1.68
4.28
3.42
1.13
5.27
2.18
2.78
1.70
4.29
3.36
1.14
5.26
2.19
2.78
1.71
4.31
3.39
1.17
5.31
2.19
2.81
1.73
4.36
3.41
1.18
5.32
2.17
2.80
1.73
4.37
3.44
1.18
5.34
2.18
2.84
1.74
4.36
3.40
1.18
5.40
2.18
2.83
1.76
4.37
3.42
1.20
5.39
2.17
2.81
1 . 75
4.39
5.43
1.21
'5.31
2.17
'2.82
1.74
'4.39
3.40
'1.20
5.37
2.14
2.86
1.74
4.42
3.43
1.22
do _ do
- -do
8.75
3.08
11.05
9.06
3.37
11.29
8.97
3.29
11.07
8.90
3.34
11.14
8.96
3.37
11.17
9.06
3.37
11.29
9.26
3.38
11.20
9.35
3.40
11.24
9.45
3.43
11.28
9.49
3.43
11.30
9.47
3.44
11.32
9.46
3.47
11.41
9.39
3.51
11.46
'9.29
'3.50
' 11.48
9.39
3.52
11.54
29. 90
130.96
32.18
33.56
32.44
31.61
32.20
31.13
34.30
32. 45
33.99
33.60
31. 99
' 33. 36 33.09
14.24
1.87
1.09
1.62
14.74
2.18
1.35
1.70
15. 28
2.13
1.29
1.92
16. 13
2.23
1.36
1.87
15.86
2.36
1.52
1.71
15.81
2.69
1.82
1.68
15.89
3.01
2.04
1.75
15.33
2.38
1.49
1.64
16.74
2.36
1.44
1.86
15.71
1.69
. 74
1.80
16.48
1.98
1.06
1.95
16.51
1.81
.97
1.96
15.77
1.74
1.00
1.95
' 15. 48 15.64
'2.04
1.86
' 1.18
1.11
2.00
' 2. 16
4.70
1.97
2.72
1.16
3.38
4.92
2.00
2.92
1.26
3.22
5.38
2.36
3.02
1.29
2.97
5.38
2.23
3. 15
1.40
3.57
5.11
2.18
2.93
1.40
3.80
5. 06
2. 12
2.94
1.36
3.82
5. 01
2.03
2.98
1.38
3.47
5.14
2. 07
3.08
1.36
3.48
5.71
2.23
3.48
1.51
3.90
5.31
2.15
3. 16
1.30
3.99
5.36
2.12
3.23
1.34
4.02
5.64
2.34
3.31
1.46
3.91
5. 06
1.98
3.07
1.28
4.04
15.66
3.38
12.28
16. 23
3.53
12.70
16.90
3.69
13.21
17.43
3.81
13.62
16. 58
3.74
12.85
15. 79
3.47
12. 32
16.31
3.53
12.78
15.81
3. 58
12. 23
17.57
3.99
13.58
16. 74
3.74
13.01
17. 51
3.92
13.59
do
32.20
32.63
32.70
32. 85
32.94
33.08
32.95
32.73
do
do
do do
15.74
2.31
1.46
1.78
16.07
2.32
1.45
1. 75
16.10
2.33
1.48
1.85
16.24
2.82
1.94
1.84
16. 43
2.84
1.86
1.93
16.19
2.33
1.45
1.83
16.00
2.21
1.34
1.88
15.73
1.75
.79
1.84
5.38
2.31
3 08
1.29
3.49
5.42
2.20
3.22
1.38
3.62
5.46
2.33
3.13
1.42
3.53
5.14
2.08
3.06
1.42
3.32
5.37
2.29
3 09
1.42
3.40
5.35
2.23
3.12
1.38
3.70
5.27
2.13
3.14
1.38
3.79
16.47
3.64
12.82
16.56
3.63
12.94
16.60
3.67
12.92
16. 61
3.66
12.95
16.51
3.63
12.88
16.89
3.75
13.14
16.95
3.82
13.12
do
do-. -
__
(
to
do - do do...
do
do
__ _. do
do
do _ _
Durable goods industries, total 9
Primary metal
Iron and steel
Fabricated metal
Machinery
Electrical
Nonelectrical
Industrial
Transportation equipment
...do
do...
do
1
_ _ do
do
do
do
do
Nondurable goods industries, total
Industries with unfilled orders©
Industries without unfilled orders^
_ do _
do
do
Unfilled orders, end of year or month (unadjusted),
total
bil $
'5.11
2.04
'3.07
'1.37
'2.89
5.47
2.44
3.U3
1.39
3.36
1 7. 09
3.83
13. 26
1 6. 21 '17.88
'3.84
3.40
12.82 ' 14.04
17.45
3.97
13.48
33.07
32.43
33. 26
' 32. 83 33.38
15.97
1.83
.95
1.88
15.44
1.76
.93
1.86
16.27
1.90
1. 08
1.92
' 15. 91 16.04
'2.06
1.96
'1.20
1.18
'1.91
1.86
5.25
2.24
3.01
1.30
4.00
5.28
2.17
3.11
1.32
3.96
5.16
2.05
3.11
1.36
3.76
5.30
2.07
3.23
1.38
4.16
17.00
3.75
13.25
17.10
3.80
13.29
16.99
3.76
13.23
16.98
3.72
13.27
' 16. 92 17.33
'3.72
3.93
' 13. 20 13.41
' 47. 43 47.07
'5.23
'2. .08
'3.15
' 1.41
'3.68
45.37
48.20
47.40
47.54
47.80
48. 20
48.97
49.46
49.20
48.48
47.81
47.45
48.09
42.85
3.41
2.28
2.73
45. 12
4.76
3.48
2.98
44.30
4.09
2.81
2.95
44.46
4.06
2.79
2.93
44.66
4.25
3.01
2.93
45. 12
4.76
3.48
2.98
45. 92
5. 45
4.04
3.10
46.37
5.57
4.11
3.18
46.04
5.32
3.87
3.17
45.34
4. 64
3. 14
3. 17
44.59
4.30
2.82
3.12
44.27
3.96
2.54
3.05
44.99 ' 44. 50 44. 14
3.72
3.91 '3.86
2.51
2.46
2.38
3.01
3.11 '3.08
do- ..
do
do
do
_ _ ._ do
17.48
10.21
7.28
3.38
14.93
18.10
10.29
7.80
3.53
14.64
17.95
10. 40
7.54
3.44
14.65
18.10
10.40
7.71
3.48
14.68
18.18
10.38
7.79
3.54
14. 64
18. 10
10.29
7.80
3.53
14.64
18.27
10.29
7.98
3.69
14.38
18.47
10.31
8.16
3.80
14. 30
18.53
10. 27
8.26
3.84
14.16
18.47
10.30
8.16
3.78
14.21
18.21
10. 22
7.99
3.69
14.00
18.27
10.31
7.96
3.71
13.96
18.46 ' 18. 19
18.33
10.40
10.38 ' 10. 19
8.08 '8.00
7.94
'3.69
3.69
3.69
14. 31 ' 14. 25 14.12
3.11
2.52
3.09 1 3. 14
3.08
2
l
Advarj ce estim ate.
Revised.
Total and components are mon thly ave rages,
9 Includes data not shown separately.
©Includes textiles, leather, paper, and printi ng and publishi ng induj tries; uiifilled
orders for other nondurable goods industries are ze ro.
M7.3
216.6
5.39
2.26
3.13
1.43
4.01
do
do
do__ _
do
Nondurable goods industries, total© __ __ do
' 7. 29
'3.51
1.82
1.54
11.10
4.40
6.59
2.61
23.72
New orders net (seas adjusted) total
r
11.04
'4.41
6.64
'2.62
4.98
2.03
2.67
1.63
4.13
3.31
1.12
Nondurable goods industries, total __
Industries with unfilled orders© ..
Industrles without unfilled orders!
Machinery
_. _
_
Electrical..
Nonelectrical
Industrial _
Transportation equipment
23.37
5.23
1.99
2.65
1.64
4.10
3.49
1.10
22.88
Durable goods industries, total 9
Primary metal
Iron and steel-- _ _
Fabricated metal
_.
Durable goods industries, total 9.
Primary metal
Iron and steel- _ _
_ .
Fabricated metal __
23. 11
5.44
2.28
2.68
1.68
4.35
3.43
1.13
-do
do
do
- -. ._do_ -_
do
do
do
New orders, net (unadjusted), total
Machinery
.
Electrical .
Nonelectrical
Industrial
Transportation equipment
23.96
5.18
2.08
2.63
1.63
4.19
3.32
1.14
do
do
do
do
_ .. __do
do
do _ _
do
Nondurable goods industries total 9
Food and beverage
Tobacco
Textile
Paper
Chemical
Petroleum and coal
Rubber
By stages of fabrication:
Purchased materials
Good^ in process
Finished goods
23.09
243.7
3.16
3.05
3.09
3.14
3.18
3.22
3.11 '2.92
2.93
p
H or thes e indust ~ies (fooc 1, bevera ges, tob acco, ap parel, pcitroleum chemic als, and
rubbe r) sales a re consic ered equ al to ne\\' orders.
3.08
November HK>2
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
1961
Monthly
average
Sept.
Oct.
1962
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
-July
Aug.
Sept.
Oct.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS INCORPORATIONS^
New incorporations (50 States):©
Unadjusted
Seasonally adjusted*
number. . 15,226
do
15,128
13,616
15 419
15,492
16 986
14 045
16 149
14 802
15 818
number. . 1,287
1 , 423
1,285
1 446
1 335
1 278
1 447
114
217
218
615
123
123
229
235
691
144
139
183
182
614
167
118
221
217
731
159
122
206
258
624
125
104
215
232
606
121
114
231
913
749
140
90, 844 116, 664
70, 257 119,214
65, 489
106,609
6, 694
16,084
27, 107
27, 754
13,205
10 950
10,048
06 737
17 927
11,002
3 485
14 583
17 930
21 524
12,735
5 070
18* 883
35 237
23 494
36, 530
3 453
16 743
19 723
18 361
7, 209
8 858
19? 017
39 071
9
8 886
10', 777
67.5
69 5
63.8
63. 6
62 9
17 196
15 713
15 653
15 402
16 408
1 5 260
15 °34
14 904
14 957
1 5 °47
14 955
15 104
12 777
15 249
1 353
1 490
1 504
1 378
1 °81
1 16^
1 319
1 1 18
110
251
216
625
151
143
276
228
701
142
1 19
273
200
767
145
1 02
237
929
664
146
113
194
'•'37
606
131
106
187
215
545
112
19()
217
227
622
133
92
194
185
514
133
90, 499
80 878 121 831
91 512
88, 493
91 574 146 832
96, 165
5 134
26 495
25 023
24 611
9,236
9 998
15 612
99 421
95 Q44
7, 803
5 440
24 586
49 677
31 691
10,437
8 270
1 5 798
99 6^9
27 569
10.216
5 445
13 6°7
32 821
27 065
9, 535
5 642
29 412
61. 1
59 4
65 0
58 7
57 3
58 3
(52 5
18 343 14 365
1 5 1 °4 15 809
INDUSTRIAL AND COMMERCIAL
FAILURES^1
Failures, total
Commercial service
Construction
Manufacturing and mining
Retail trade
Wholesale trade
do __
do
do
do _ _
do
_
-
thous. $.. 78, 219
Liabilities (current), total
8, 281
do _. 16, 781
24,136
do
20, 091
do
8,930
do
Construction
Manufacturing and mining
Retail trade
Wholesale trade
Failure annual rate (seasonally adjusted)
No. per 10,000 concerns.-
i 57. 0
1
64. 4
6 977
5 605
33 618 12 803
<>] gy<«>
36 1 70 •j9 9$$
29 999 53 180 27 944
1 1 ', 923 16. 887
9, 825
0'> 2
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
Prices received, all farm products!
Crops
__ __ __
Commercial vegetables
Cotton
Feed grains and hay
Food grains
_ -_
240
242
240
239
240
242
243
244
242
242
239
240
244
250
245
do
do
do
do. _
do
221
224
254
151
203
226
218
262
151
209
229
202
277
1 56
214
226
198
286
154
217
224
223
280
149
218
224
211
269
150
219
225
259
257
152
218
226
272
246
152
219
233
314
248
153
223
236
312
268
155
224
243
325
276
159
230
236
258
275
157
230
231
229
275
1 55
229
229
201
275
151
226
232
201
280
154
226
226
197
275
Tf>2
226
do
.do
do
. do __
241
214
204
500
246
257
158
526
255
242
141
541
225
242
135
537
207
248
134
540
216
250
130
544
208
250
127
538
216
253
125
542
229
252
132
543
220
255
137
543
210
255
189
543
203
253
220
543
191
252
205
542
243
245
174
518
266
238
153
525
243
238
131'
519
_
253
259
296
160
235
251
259
299
146
230
253
267
303
138
230
252
272
297
141
228
251
277
293
140
228
271
299
146
229
257
268
304
149
231
257
263
305
154
237
254
255
307
147
240
246
240
303
139
253
242
232
303
130
260
242
230
305
128
261
248
239
310
133
257
256
248
318
141
253
266
258
326
153
251
261
265
314
1 50
249
275
290
265
276
291
266
276
291
266
276
291
265
276
291
265
277
292
267
278
293
268
279
294
268
279
294
269
280
294
270
280
296
269
279
294
268
279
294
268
279
294
268
'280
294
271
281
294
271
299
302
301
301
301
302
304
305
305
307
307
305
305
305
307
307
80
79
80
80
79
79
80
80
80
79
79
78
79
80
81
80
_
_
Fruit
Oil-bearing crops . ...
Potatoes (incl. dry edible beans)
Tobacco
Livestock and products
Dairy products
Meat animals
Poultry and eggs
Wool
238
1910-14=100..
...
__ ..
__
do _
do
do
do
do
Prices paid:
All commodities and servicesdo. _
Family living items
do
Production items _
_ _ _ _ _ _ _
do
All commodities and services, interest, taxes, and
wage rates (parity index)
1910-14=100..
Parity ratio.
do
CONSUMER PRICESJ
(U.S. Department of Labor Indexes)
103.1
104. 2
104.6
104.6
104. 6
104.5
104.5
104.8
105.0
105.2
105. 2
105. 3
105. 5
105. 5
-' 106.1
___do._
do _
103. 7
103. 0
104.8
104. 2
105. 3
104. 5
105. 5
104. 7
105. 6
104. 5
105. 5
104.4
105. 3
104. 4
105. 5
104.8
105. 7
105. 0
106.0
105. 2
106. 0
105.2
106. 1
105. 3
106.1
105. 4
IOC). 2
105. 5
106. 6
106. 1
do
do
do
do
101.7
101.9
100.7
105. 6
102.4
102. 8
100. 5
107. 6
102. 8
103. 1
101.0
107.9
102. 9
103.0
101. 7
108. 0
102.6
102. 7
101.6
108. 2
102.4
102. 6
101.1
108.5
102. 3
102.6
100. 8
108.7
102.7
103. 1
100.8
108.9
102.8
103.2
100.9
109.0
103.1
103. 5
101.4
109. 2
103.0
103. 2
101.5
109.4
103. 1
103.4
101.6
109. 5
103. 1
103. 5
101. 5
1 09. 8
103. 2
103. 5
101.7
109. 9
104.1
104.7
101.6
109. 8
do
do
do
do ...
do
109 1
101.4
103.2
103. 8
99.1
102.8
102. 6
104. 8
104.2
99. 3
103. 6
102. 6
105. 1
102.3
99.2
103. 9
102. 5
105. 1
99.4
99. 5
103. 7
101. 9
105. 5
98.4
98. 5
103. 5
102.0
105. 6
99.8
98. 5
101.8
102. 5
105. 6
100. 6
99. 8
102.0
103. 1
105. 1
102.9
100. 6
102.7
103.2
105.0
104. 4
100.6
102.7
103.4
103.7
108. 6
100. 1
102. 7
103.2
103. 0
109.4
99.6
102.8
103. 5
102.7
111.9
99.7
102.9
103. 8
103. 5
109. 9
100.8
102.
103.
103.
105.
102.
5
8
9
2
(5
104. 6
104. 8
104.2
102.2
106. 3
do
do
do
do
103 1
107. 0
100. 1
103. 1
103. <J
107. 9
99. 5
104.4
104.0
107. 8
99.7
104. 7
104. 1
107. 8
99. 5
104. 8
104. 2
107.8
99.3
104.9
104,4
107. 8
99.2
105. 0
104. 4
107.8
98.7
105.1
104. 6
107.9
99.3
105.2
104.6
107. 9
99.5
105.3
104. 6
107.8
99.3
105. 4
104.7
107.7
99. 0
105. 5
104.8
107. 7
99.1
105. 6
104. 8
108. 0
99.0
105. 7
104. 8
108.0
98.5
105. 8
104. 9
108. 0
98. 7
105. 9
do
do
do ...
108. 1
104, 1
104.9
111.3
104. 6
107. 2
111.9
104. 8
107.9
112.3
104. 6
108.3
112.4
104.8
108. 1
112. 5
105. 2
108. 2
112.6
105.6
108.5
113.0
105.8
109. 1
113.6
105. 9
109.2
113. 9
106. 3
109. 4
114.1
106.4
109. 5
114.4
106.1
109. 2
114.6
106. 8
110.0
114.6
106. 8
110.3
114.7
106. 8
110.0
Transportation
do .
103.8
105. 0
106.0
106. 8
106. 7
Private
do
103.2
104.0
105. 1
105. 9
105. 8
Public
do
107. 0
111.7
112.5
112. 5
112.7
Other goods and services
do
103.8
104.6
105. 0
105. 0
105. 0
T
l
2
Revised.
Based on unadjusted data.
1 ndex bas ed on 194 7-49 = 10 3 is 130.2
cf Data are from Dun & Bradstreet, Inc.
© Fig ures in 1 £61 BUSLN ESS STAT ISTICSVO ume
cover 49 States (Alaska not included); see July 1961 STJRVEY fo r unadju sted date back to January 1960 for 50 States.
*New series. Data for J an. -Dec. 1959 (49 States) appear iri the
Oct. 1961 SURVEY. For revised data (50 States) for 1960, set} similar note in lie June 1962
106.0
104. 9
113.3
104.9
All items*
Special group indexes:
All items less food
All items less shelter
_
..1957-59=100..
All commodities
Nondurables
Durables
Services
A pparel
Food 9
Dairy products
Fruits and vegetables
Meats, poultry, and
Kousine 9
Gas and electricity
Housefurnishings
Rent
fish
_
_
Medical care _
Personal care _
Reading and recreation
SURVEY.
106. 0
106.0
105. 9
107.3
107.2
107.3
106.8
107.4
107. 8
104. 8
104.7
104. 6
106. 0
106.0
106. 0
105.4
106. 2
106. 7
114.7
114.8
114.9
115.6
115.6
115.6
115.6
115.7
115.7
104.9
105.0
105. 1
105. 1
105. 2
105.1
105.6
105. 5
105.6
e vised b sginning Jan. 1959 to inco rporate i>rice re vi sions for individilal comn lodities;
revisio ns for eai Her perk)ds will ) )e shown later,
tatio
of prices re ceived t 3 prices paid (in eluding nterest, taxes, a ad wage rates) .
§F
JD ata refle 3t conver sion to t he 1957-59= 100 re ference b ase perio d. Mon thly and annual
data fc r earlier
ippear 01i p. 19 ofthe Oct 1962 Su BVEY.
91 ncludes data not shown s gparatelj
IR
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
Monthly
average
1962
1961
Sept.
Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
May
Apr.
June
July
Aug.
Sept.
Oct.
COMMODITY PRICES—Continued
WHOLESALE PRICESo^t
(U.S. Department of Labor Indexes)
\11 commodities^
1957-59=100
By stage, of processing:
Crude materials for further processing
do
Intermediate materials, supplies, etc - _ _ d o
Finished goods 0 _ . . _
___do___
By durability of product:
Nondurable goods
do
Durable "'oods
do
100.7
100. 3
100. 0
100. 0
i
100. 0
100. 4
100. 8
100. 7
100. 7
100. 4
100. 2
100.0
100. 4
100.5
101.2
!
!
96. f>
101.0
101. 4
96. 1
100. 3
101. 4
96. 0
99.9
101.2
95.9 I
99.7
101.2
95.4
100. 0
101.3
96. 4
100. 3
101.5
97.8 i
100. 3
102. 1
97.5
100. 2
102. 1
07. 6
100. 3
101.8
96. 5
100. 5
101.4 i
95.8
100. 4
101. 2
95. 2
100.2
101.1
96. 5
100. 3
101.5
97.2
100. 1
101.7
99. 2
100. 2
102. 5
99.9
101.7
99. 6
101. 3
99. 2
101.3
99.1
101.1
99. 3
101. 1
99.7
101. 1
100.5
101. 1
100.3
101.2
100. 2
101.2
99. 7
101.2
99. 5
101. 1
99.3
101.0
99.8
101.0
100. 0
101. 0
101.2
100. 9
96. 9
100. 6
94.2
96.0
96. 0
93.7
95.6
92.5
95.2
89.4
97.2
90. 2
95. 1
89.1
97. 0
89.4
95. 6
89. 9
98.8
89.4
95. 9
87. 2
98.4
92. 4
97.9
97. 0
97.2
95.7
95.3
98.7
99.9
91.6
96.5
92.2
99. 1
95.8
97.6
90. 9
98. 1
98.5
100. 6
94.9
98.6
104. 4
100.0
do
d o _ _ _ 103. 2
105. 0
do
99.5
do
97.8
do
100. 7
105. 1
107. 5
101.7
95. 4
100. 3
105.3
108.0
99. 8
95. 3
100. 5
106. 0
109. 5
100. 4
94.7
100. 2
106. 1
109.6
100. 5
93.6
101.0
106. 1
110.2
100. 4
95.9
102. 0
106. 9
109. 1
99.3
99. 2
101.8
107. 3
109.1
99. 8
98.7
101.6
107. 4
108.0
99.3
98.4
100. 2
108.0
106. 0
99. 0
95. 6
99. 6
107. 5
104. 5
98.6
95.5
99.8
107. 8
105. 0
99.1
95. 7
100.8
108. 1
105. 7
98.7
99.0
101. 5
108. 0
106. 1
97.1
101.0
103. 3
107 8
106. 0
96. 4
106. 7 ------
101.3
100. 8
100. 7
100. 5
100. 7
100.9
101. 0
100. 8
100. 8
100. 9
100. 9
100.7
100.8
100. 6
100.8
100.2
do
100. 5
do
100.2
do
81.5
do
do_ __ 102.2
100. 7
do
99.1
98.4
98.3
87.5
104. 3
103. 6
98.3
97.5
97. 0
80.9
102. 8
103. 7
98.2
97.3
97.1
78.1
104. 4
103. 6
98.1
97.3
97.3
76.4
104. 7
103. 6
98. 1
97.1
97.3
78.4
104. 7
103. 6
98. 4
97.3
97.2
S3. 0
105. 8
103.7
98. 1
96. 8
97.1
77.0
106. 3
103. 7
98. 0
96. 6
97.1
81.3
103. 7
103. 7
97.9
96. 5
97. 0
79.3
103. 7
103. 7
97.7
96.3
97.0
77.1
103. 6
103. 8
97. 6
96. 2
97. 0
73.4
103. 6
103. 8
97. 2
96. 1
95. 1
73.5
101. 0
103.8
97.0
95.9
95.0
73.0
98.4
103.8
96. 9
95.9
95. 0
72. 3
98. 6
103. 8
Fuel and related prod., and power9
do
Coal
do
Electric power
Jan. 1958=100..
Gas fuels
- do_ .
Petroleum products, refined
1957-59=100..
99.6
98. 8
101. 9
116.6
97.6
100. 7
97.7
102.4
118.7
99.3
99. 6
97.4
102. 4
116.9
97.3
99.0
98, 0
102. 5
119.4
95. 8
99.8
98.3
102. 6
119.3
97.2
100. 6
98. 6
102. 5
118.4
98. 9
101. 0
98.7
102. 5
118. 1
99. 6
100.4
98.7
103. 0
1 22. 0
97.8
98.9
98.7
103. 1
1J9. 4
95. 3
100. 2
95.3
103. 0
115.3
98.9
99.7
94.6
102. 9
116.6
97. 9
99.6
94.6
102. 8
113. 8
98.1
100.0
95. 3
102.8
119.7
98.0
99.5
95. 6
102.8
117.8
97.2
100. 8
96. 7
102. 8
120. 1
99. '_'
Furniture, other household durables 9
Appliances, household
-~
Furniture, household
... Radio receivers and phonographs
Television receivers.
.-
100. 1
97.0
101.6
95.2
98. 1
99.5
95.2
102. 8
91.4
97.1
99.4
95.1
102. 9
89.3
96. 9
99.4
95.2
103. 1
89.3
96. 1
99.5
95. 1
103. 5
89. 4
96. 1
99. 3
94. 9
103. 3
89.4
96. 2
99. 3
95. 0
103. 4
89.4
93.7
99.1
95. 0
103. 5
87.8
93. 7
99. 0
94, 9
103. 4
87. 1
93. 7
98. 9
94.7
103. 4
80. 8
93. 7
99. 0
94.3
103. 7
87. '>
95. 5
98. 9
94.3
103. 9
84.8
94.9
98.8
93.9
104. 1
85.4
94.3
98.7
93.6
104.0
85.4
94.3
98. 6
93. 4
104.0
85,1
94.3
do
..do
do
.do
105.2
107. 0
100. 5
103. 5
106. 2
107. 4
107. 9
106.0
108. 4
107.8
121.7
109. 7
108. 9
108. 4
121.2
111.5
108. 6
108. 5
117.4
110.7
108. 2
108. 5
112.5
110.5
108.2
108. 5
110. 1
110.9
107. 7
108. 5
105. 4
110.6
107. 1
108. 7
103.8
109. 6
106. 9
10S. 7
103. 3
109. 5
107. 2
108. 7
105. 4
110.6
108. 0
108. 7
108. 5
110.0
107. 5
108. 8
104. 2
108.4
107. 0
108. 8
105. 1
106. 9
107. 5
108. 8
110.8
106. 6
Lumber and wrood products...
Lum ber
do
do
100. 4
99.8
95. 9
94.7
95. 6
94. 7
94.8
94. 0
94.8
93. 8
94. 6
93. 7
94.7
94. 0
95.2
94.8
96. 2
95. 8
96. 8
96. 8
97. 1
97. 5
97.3
97. 6
97.5
98. 0
97. 4
97.7
96. 9
97. 3
Machinery and motive prod. 9
Agricultural machinery and equip
Construction machinery and equip
Electrical machinery and equip
Motor vehicles
do
do
do
do
do
102.4
105. 4
105. 8
101.3
101. 0
102.3
107. 4
107. 5
100. 0
100. 7
102. 0
107.2
107. 6
99. 1
100. 7
102. 1
107. 4
107. 6
99. 5
100. 5
102. 2
107. 8
107. 6
99.5
100.4
102. 3
108. 5
107. 6
99. 5
100. 3
102. 3
108. 8
107.7
99. 0
100. 3
102. 3
109. 2
107. 6
98. 9
100. 2
102.3
109.4
107. 6
9S. 9
100. 1
102. 3
109. 2
107. 7
98. 9
100. 1
r 102. 4
109. 3
107. 7
98. 9
100. 1
'• 10-'. 3
109. 5
107. 7
T
98. 5
100. 9
102.3
109. 5
107. 6
98.4
100.9
102. 3
109. 4
107. 7
98. 2
100. 9
102. 3
109.3
107. 7
98.1
100.9
d o _ _ _ 101. 3
98. 2
- - do_ ..
100.6
do
103.
9
do
100. 7
94.6
100. 7
100. 4
101.3
94. 7
101. 1
101.9
100. 9
94.4
100.9
100. 9
100.4
94. 0
100. I
100. 2
100. 6
94. 5
100. 2
100. 8
100.7
93.8
100. 6
100. 5
100. 6
93.8
100. 4
100. 3
100.4
93. 7
99. 8
100. 1
100. 3
93. 7
99. 6
99. 8
100. 2
93.1
99.2
99. 9
99. 8
92. 9
98. 9
99. 3
99. 7
92.9
98. 9
99. 0
99. 8
92. 9
99. 1
99. 0
99.7
92. (5
99. 0
98. 9
Farm products?.
.
do
Fruits and vegetables, fresh and dried — do
Grains
do
Livestock and live poultry _
do
Foods, processed 9 ©
Cereal arid bakery products
Dairy products and ice cream
Fruits and vegetables, canned, frozen
Meats poultry, and
fish
Commodities other than farm products and foods
1957-59=100-.
Chemicals and allied products 9 - Chemicals, industrial
Drugs and Pharmaceuticals. ..
Fats and oils, inedible
Fertilizer materials . .
.
Prepared paint
Hides, skins, and leather products 9
Footwear.
.. _ ...
Hides and skins Leather
Metals and metal products 9
Heating equipment
Iron and steel
Nonferrous metals
do
do
do__ .
do
do
r
98.2
104. 3
96. 7
94.5
r
98.4
106.0
97.4
95. 7
r
96.9
99. 0
98. 5
94. 1
T
96.2
107. 1
101. 0
91.4
r
Nonmetallic mineral products 9
Clay products, structural
Concrete products
Gypsum products
do
do
do
do
101. 4
103.1
102.4
101.9
101.8
103. 2
102. 5
103. 8
101.8
103. 2
102. 6
105. 0
102. 1
103. 3
102. 7
105. 0
101. 9
103. 3
102. 5
105. 0
101. 6
103. 3
102. 4
105. 0
101. 9
103. 4
102. 4
105. 0
102. 1
103. 5
102. 8
105. 0
102.2
103.6
102.8
105.0
102. 4
103.6
102.8
105.0
102. 1
103. 6
102. 6
105. 0
101.9
103. 6
102. 6
105.0
101. 6
103.6
102. 8
105.0
101.6
103. 6
102. 8
105. 0
101.6
103. 6
102. 8
105. 0
Pulp paper and allied products
Paper
do
do
101.8
102. 0
98.8
102. 2
98. 9
102. 0
99. 6
102. 0
99. 2
102. 0
99. 6
102. 0
99. 9
102. 0
99. 9
102. 5
101. 0
102. 7
101.3
103. I
100. 8
103. 1
100.5
103. 1
100. 0
102. 6
99.7
102. 6
99. 5
102. 6
Rubber and products
Tires and tubes
do
do
99.9
93.0
96. 1
92. 4
96. 3
92. 9
96. 2
92.9
95.5
92. 0
94. 5
89.9
94. 1
88. 5
93. 5
87.0
93. 6
87. 6
92 9
86. 1
93. 2
86.4
93. 0
86.4
92. 7
86.4
92. 7
86.4
92 7
86.4
Textile products and apnare!9
Apparel
Cotton products
Marimade fiber textile products
Silk products
Wool products
do
do
do
do
do ..
do
101. 5
101.3
104.4
97. 5
105-7
98. 2
99.7
101.0
100. 4
93. 4
113.2
97.1
99. 7
101. 1
100. 9
92. 6
117.1
98. 2
100.1
101.2
101.5
92. 6
114.6
97.7
100. 2
101.2
101. 7
93. 1
114.2
97.7
1 00. 3
101.2
101. 9
93. 2
111.4
97.7
100. 3
101.2
102. 0
93.3
111.5
97.8
100. 4
101.2
102. 2
93. 3
113.2
98.1
100. 5
101.3
102.4
93.5
116.3
98.3
100. 5
101.3
102. 4
93. 7
121. 6
98. 6
100. 7
101. 4
102. 1
94.5
126.4
98.9
100. 8
101. 5
102. 0
94. 6
130. 7
99. 1
100. 9
101.8
101.9
94.7
130.2
99. 3
100. 8
101. 8
101.7
94.3
132.4
99.3
100. 6
101.6
101.3
94.0
125. 2
99.4
Tobacco prod, and bottled beverages 9 ---do
Beverages alcoholic
do
Cigarettes
do
102. 5
100. 3
101.4
103.2
100. 6
101.4
103.8
100. 6
101.4
103. 8
100.5
101.4
103.8
100. 6
101.4
103. 8
100. 5
101.4
103. 8
100. 7
101.4
103.8
100. 7
101.4
104.0
100.8
101. 4
104. 0
100. 8
101.4
104.1
101. 1
101.4
104. 1
101. 1
101.4
104. 0
100. 7
101. 4
104.2
101. 1
101.4
104. 1'
101.1
101. 4
Miscellaneous
99.3
100. 2
103. 9
100. 9
103. 0
101. 3
100. 7
101.6
105. 1
101.6
106.3
100. 9
106. 7
100.5
105. 6
100.3
105.6
100. 5
106. 0
100. 5
106.0
100. 5
105. 4
101.1
107. 6
101.0
107.2
101.0
109. 1
101.1
99.3
97.1
99. 7
96.0
100. 0
100.0
95.6 ! 95.6
100.0
95.6
99. 6
95. 7
99. 2
95.7
99. 3
95.4
99.3
95. 2
99.6
95. 1
99.8 ! 100.0
95.0
95.1
99.6
94.8
do
r
PURCHASING POWER OF THE DOLLAR*
As measured by—
Wholesale oriels
Consumer prices
1957 59 — 100
do
r
r
Revised.
i Indexes based on 1947-49 = 100 are as follows: Measured by—wholesale
prices, 83.2 (Sept.); consumer prices, 76.9 (Sept.). cfFor actual wholesale prices of individual
commodities, see respective commodities. JData reflect conversion to the 1957-59 = 100
reference base period. Monthly and annual data for earlier periods for major components
appear on p. 20 of the Oct. 1962 "SURVEY.
99. 5 i
94.8 1
i 98. 8
94. 3 i
!
0 Goods to users, including- raw foods and fuels.
9 Includes data not shown separately.
©Revisions for Mar.-Dec, I960 appear on p. 20 of the Oct. 1962 SURVEY; those for Jan.June 1961, respectively, are as follows (1957-59 = 100): 102.0; 102.6; 101.7; 100.9; 99.8; 99.0.
SURVEY OF CURRENT BUSINESS
November 1962
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
Monthly
average
S-9
1962
1961
Sept.
Oct.
Nov.
Dee.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE
New construction (unadjusted), total
mil.$_.
Private, total 9
do
Residential (nonfarm) 9
- do.
New housing units
__
do__ _
Additions and alterations
do
Nonresidential buildings, except farm and
public utilities, total 9
mil. $._
Industrial
-do
Commercial 9
__
do
Stores, restaurants, and garages*
do
Farm construction
_
do__ _
Public utilities
do
Public total
do
Nonresidential buildings
Military facilities
Highways
.
Other types
_
_. .
- -
do
do
do
- do
4,630
4,783
5, 473
5,325
5,190
4, 659
4,082
3,773
4,131
4,600
5, 319
5,826
5,743
r
5, 844
' 5, 827
5,648
3,300
3,364
3,740
3,698
3,603
3,345
2,962
2,769
2,987
3,325
3,821
4,112
4,078
r 4, 082
' 4, 069
3,933
1.879
1, 368
433
1, 875
1,349
428
2,122
1,602
417
2,094
1,607
383
2, 053
1,563
388
1,896
1,432
366
1,629
1,208
324
1,472
1,078
298
1, 629
1,192
343
1,928
1,345
487
2,308
1,514
692
2,492
1,697
686
2,388
1,759
516
' 2, 353 ' 2, 332
' 1,794 ' 1, 790
'445
'430
847
238
348
172
107
444
896
230
389
193
123
449
949
218
421
220
147
503
954
221
425
224
127
504
048
221
424
228
112
472
908
221
398
203
97
427
863
225
365
175
92
360
835
224
346
163
90
355
833
221
348
167
96
410
839
223
348
161
107
433
S94
229
383
185
122
476
971
235
433
225
137
489
1,025
239
469
252
147
491
1,039
241
471
246
'152
'511
1,037
245
465
234
'147
'524
1,021
245
454
217
135
522
1,329
1,420
1,733
1,627
1,587
1,314
1,120
1,004
1,144
1,275
1,498
1,714
1,665
' 1,762
' 1, 758
1, 715
399
116
455
359
428
114
485
393
463
138
685
447
459
78
651
439
418
165
603
401
391
79
490
354
385
54
332
349
353
70
241
340
392
95
279
378
425
103
339
408
436
114
509
439
472
157
618
467
461
94
643
467
464
117
700
'481
'460
0)
708
469
454
0)
0)
C1)
62, 646
New construction (seasonally adjusted at annual
rates) total
mil $
Private total 9
58, 896
59, 037
60, 744
59, 006
59, 166
56, 714
57, 748
58, 279
60, 764
62, 678
62, 084 ' 62,829 '62,760
41, 709
41, 767
42, 044
41,881
41, 077
39, 909
40, 553
41,747
43, 472
44, 842
44, 908
45,244 '45,332
44, 404
23, 782
24, 026
24, 504
24, 440
23, 187
22, 245
22, 507
23,484
25 018
26, 118
25, 987 '25 957 '26,063
25, 515
10,711
2,610
4,718
2,398
1,590
5, 422
10, 656
2,608
4,681
2,388
1,472
5,404
10,540
2, 554
4,608
2,413
1,416
5,380
10, 564
2,537
4,641
2,434
1,337
5,337
10, 982
2, 590
4.928
2,612
1,316
5,357
10, 849
2, 592
4, 756
2,444
1 284
5,274
11,033
2, 653
4, 795
2,442
1,295
5, 449
11,234
2,792
4,793
2,353
1, 385
5.388
11 257
2,886
4 752
2 268
1 466
5 481
11,403
2,950
4, 865
2,352
1,531
5,539
11,661
2,962
5,110
2,588
1,533
5,444
11 830
2,936
5 273
2
688
T
1 533
r
5 626
do
17, 187
17, 270
18, 700
17, 125
18, 089
16, 805
17, 195
16, 532
17 292
17, 836
17, 176
r
do
do
do
5,101
1,364
5,960
5,132
906
6,340
5,175
1,457
7,099
5,087
1,001
6,235
5.058
924
7,250
5,116
1,211
5,414
5,069
1,328
5, 771
5,106
1,381
5, 057
5 122
1,354
5 830
5,257
1,549
5,989
5, 043
1,170
5 876
r
do
Residential (nonfarm)
do
Nonresidential buildings, except farm and
publi'p utilities total 9
mil $
Industrial
do
Commercial 9
do
Stores restaurants and garages*
do
Farm construction
do
Public utilities
do
Public total 9
Nonresidential buildings
Military facilities
Highways
2,227
1, 722
394
r
11,723 11 419
2,930
2, 885
5,214
5 018
2,549
2 316
' 1 577 1 561
' 5, 652 5 599
17 585 ' 17 428 18 242
5 083
1 244
6 195
5 069
(i)
6 140
5 073
(i)
(i)
CONSTRUCTION CONTRACTS
Construction contracts in 48 States (F. W. Dodge
Corp.):
Valuation, total_ _. mil. $
Index (mo. data seas, adj.)*
1957-59=100..
Public ownership
_
_ _ _ _ mil. $
Private ownership
do
By type of building:
Nonresidential
do
Residential
do
Public works
do
Utilities
do
Engineering construction:
Contract awards (ENR) §
do
Highway concrete pavement contract awards:^
Total
_ _ _ _ _ _ .thous. sq yds
Airports
do
Roads _. _ . ._ _ _ do
Streets and alleys.
do
3,026
105
1,049
1,978
3,114
108
1,052
2,062
3,004
103
954
2,050
3,291
114
1,021
2,270
3,008
116
942
2,066
2,712
119
1,091
1,621
2,658
115
922
1, 736
2,749
119
877
1,871
3,986
131
1, 475
2, 51 1
3,860
121
1.211
2,650
4,009
117
1,227
2,782
3,900
120
1.331
2,569
3,747
117
1,231
2,516
3 631
118
1 039
2 591
3,273
113
1,099
2,174
1,020
1,259
579
169
1,019
1,348
581
166
987
1,381
534
103
1,005
1,498
631
156
1,095
1,306
496
111
883
1,125
597
107
853
1,190
527
88
893
1,192
488
176
1, 325
1, 552
806
303
1,102
1,816
702
241
1 275
1 819
729
186
1,242
1,656
724
277
1,197
1, 623
719
207
1 177
1 651
626
176
1 019
1 519
624
111
1,888
1,832
1,657
1,869
2,071
1,351
1,501
1,806
2,151
1.687
2 252
1,821
1,908
2 181
1 621
9,315
621
5, 653
3,041
8,939
476
5, 390
3,073
6,929
304
3,203
3,423
8,671
174
5,418
3,080
9,192
327
5,117
3,748
5,706
112
4,114
1,479
8,896
382
6,338
2,176
6,386
416
4,712
1,257
6,530
408
4,170
1,953
8,888
848
5, 694
2,346
9, 796
787
4,973
4,037
10, 846
8,861
1 017
4,443
3,402
10 414
421
6 205
3 788
6 986
123
4 415
2 447
108.0
84.1
104.3
113.0
81.7
108.6
128.2
91.5
122 4
128.9
94.1
124 0
105. 5
74.1
102 5
86.7
54.4
82.4
83.0
54.4
80 6
77.8
53.8
76.4
117.9
79.8
115.4
151.6
101.7
147.0
156.4
107.7
154 2
139. 5
96.9
136 2
' 139. 3 ' 147. 8 ' 114. 2
--96.0
104 2
T
135 8 T 146 i r H2 7
131.5
106.2
74.0
102.5
110.6
78.0
106.3
126.5
90.9
120.7
126.4
88.0
121.5
103.8
71.9
100.8
84.5
62.7
80.2
81.7
59.9
79.3
76.7
55. S
75.3
116. 3
83.9
113.8
149. 5
110.6
144.9
154.9
112.0
152.7
137.0
96.2
133.7
' 137. 4 ' 144. 7 '111.6
-97.7
'99.1
84.2
f
133. 9 ' 143. 0 ' 110. 1
128. 6
1,383
1,365
1,434
1,404
1,351
1,328
1,297
1,257
1,273
1 247
1,152
1,134
1,431
1,407
1,542
1,521
1,579
1 566
1,425 '1,466
1 399 r 1 447
r 1 500
111
6,445
3,674
HOUSING STARTS
New housing units started:
Unadjusted:
Total, incl. farm (public and private) ___thous..
One-family structures
do
Privately owned
do
Total nonfarm (public and private)
In metropolitan areas
Privately owned
do
do
do
Seasonally adjusted at annual rates:
Total, including farm (private only)
Total nonfann (private only)
do
do
129 1
126.2
' 1, 529 ' 1, 278
1,497
' 1 250 1 463
CONSTRUCTION COST INDEXES
Department of Commerce composite
1947-49=100..
144
145
145
145
144
145
145
147
147
148
147
148
148
'149
'149
American Appraisal Co., The:
Average, 30 cities _
. . ._
_ . _ 1913=100
Atlanta
do.
New York
do
San Francisco.
_ _ _ _
_
. do _
St Louis
do
722
793
783
677
700
741
810
814
703
720
747
809
821
708
722
748
819
821
715
722
747
815
819
711
731
747
815
815
711
731
748
824
825
711
733
748
824
825
711
733
749
824
825
711
735
750
824
825
711
735
751
824
824
711
738
754
825
825
711
742
758
833
845
711
743
760
833
845
718
743
762
835
845
734
743
Associated General Contractors (building only) O
1957-59= 100. _
107
109
110
110
110
110
110
110
110
111
111
111
111
112
112
r
Revised.
i Not available.
9 Includes data not shown separately.
*For data prior to Aug. 1960 for stores, restaurants, etc., see Bureau of Census reports;
data prior to Mar. 1961 for F. W. Dodge index will be shown later.
148
7^0
845
R4K
734
74'4
112
§Data for Nov. 1961 and Mar., May, and Aug. 1962 are for 5 weeks; other months, 4 weeks,
cf Data for Oct. 1961 and Jan., May, and July 1962 are for 5 weeks; other months, 4 weeks.
ONote shift in reference base; data prior to Sept. 1961 on 1957-59 base are available upon
request.
SURVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1961
1960
Monthly
average
November l!Mil.
1961
Sept.
Oct.
1962
Nov.
Feb.
Jan.
Dec.
Mar.
Apr.
May
June
Aug.
July
Oct.
Sept.
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES— Con.
E. H. Boeckh and Associates:^ *
Average, 20 cities:
\11 tvpes combined
1957-59 = 100
Apartments, hotels, office buildings _ d o _ _ _
Commercial and factory bui1 dings
do
Residences
do
Engineering News-Record: O
Building
--. do
Construction
do
Bu. of Public Roads— Highway construction:!
Composite stand mile (avg forotr) 1957—59 — 100
104. 7
105.0
104.7
104.2
105.6
106. 3
105. 6
104. 5
106. 3
107.1
106.3
105.2
106.2
107. 1
106.2
104.9
106.2
107.0
106.2
104.9
106.3
107.1
106. 3
104.9
106.4
107.3
106.4
105. 1
106.5
107.4
106.5
105. 1
106.5
107.4
106.5
105. 1
107.0
107.9
106.9
105.6
107. 6
108.6
107.6
106.2
107.9
108.9
107.9
106.4
108. 5
109.4
108.5
106.9
108.7
109.7
108 6
107.2
108. 8
109.8
108.7
107.3
106.1
108.4
107.8
111.5
108.4
112.4
108.3
112.4
108.3
112. 5
108.2
112.5
108. 3
112.5
108.7
112. 9
109.1
113.3
109.2
113.6
109.9
114. 7
109.9
114.8
110.6
115.4
111.1
116.0
111.1
115.8
*94 1
1
94 9
95 1
131.6
130.2
141.2
135. 5
144.5
127.7
126.8
132.7
109.5
127. 7
' 115.0
97 4
97 2
97 0
110. 9
115. S
98 4
CONSTRUCTION MATERIALS
Output Index:
Composite unadjusted 9 1
Seasonally adjusted 9 t
1947-49- 100__
do
Iron and ctet'l products unadjusted^
lumber and wood products, unadj. j
Portland cement unadjusted
r 123.
0
r
r
l!4. 5
129. 4
T
134. 8
'•139. 4
r
137. 2
•• 135. 0
r
r
151. 1
140. 8
r
r
146. 2
137. 0
132.8
' 137. 3
152. 0
137. 5
r 128.
128.0
199.7
151 9
144.2
216 1
128.6
131.7
159.0
130.2
130.8
161. 6
144.5
137.7
188.3
144 7
142.9
193 5
123 2
131. 1
165 3
105. 3
113.9
139.9
112.3
122. 5
102. 0
116.5
127. 7
91. 6
138.8
139.3
122.4
139. 2
138.3
168.0
150.5
149.9
201.7
146.3
138.5
193. 2
20.2
20.3
14.8
19.6
222
15.7
22.1
272
16.1
17. 4
265
13.5
16. 4
299
11.0
14.5
11.9
12.9
18.7
239
12.0
24.6
246
19.0
22.7
240
16.3
23.1
233
17.8
20.4
212
14.7
19.8
219
17.1
19.3
197
15.5
15.4
189
12.1
383. 38
165.42
397. 10
152. 63
422. 39
167.99
432. 48
200. 91
483. 73
205. 91
425. 65
197.11
480. 34
226. 58
397. 95
175. 44
418.17
204. 97
371. 89
181.81
402. 80
183. 76
403. 77
206. 90
432. 60
219. 34
464. 73
247. 35
430. 95
231.21
2 1.981
2 2. 662
2, 124
2,202
2,288
2,662
2. 320
2.228
2,151
2,323
2,429
2 767
2,860
2, 948
3 046
1,192
1.447
1. 594
1,629
1,529
1. 500
1,323
1,303
1,611
1,661
1,857
1,936
1,839
2. 036
1,713
390
511
291
423
601
423
436
095
463
464
696
469
436
645
448
417
598
485
353
550
420
362
509
432
464
633
514
512
635
514
584
739
534
572
823
541
515
796
528
r
540
r
485
735
493
New nonfarm mortgages recorded ($20,000 and
under) estimated total
mil $
Nonfarm foreclosures
number
2, 445
4,279
2, 596
6,090
2,777
6,214
2, 961
6,352
2, 754
6,564
2,579
6. 151
2, 459
7,103
2,238
6,382
2,627
7,441
2,704
7,055
2,983
7,214
3, 075
7, 396
3,134
3,333
Fire losses
92.32
100. 75
76.98
86. 93
115.85
109. 52
133.48
115.86
114.42
106. 14
114.53
95.99
94.79
94. 58
85. 25
"~
do
do .
do
5
REAL ESTATE
Mortgage applications for new home construction:*
Applications for FIT A commitments
thous. units. _
Seasonally adjusted annual rate
do
Requestsfor VA appraisals .. _
do_ _ .
Home mortgages insured or guaranteed by —
Fed Hous Adm • Face amount
mil $
Vet Adm * Face amount
__do_Federal Home Loan Banks, outstanding advances
to member institutions
mil $
New mortgage loans of all savings and loan associations, estimated total
-. - -mil. $__
By purpose of loan:
Home construction
do
Home purchase
do
All other purposes
do
-
-
mil. $__
f
920
'576
17.7
212
14. 1
DOMESTIC TRADE
ADVERTISING
Printers' Ink advertising index, seas, adj.:
Combined index
1947-49=100-.
Business papers
do
Magazines
do
Newspapers
_
Outdoor
Radio (network)
Television (network)
.. .
do
do
do
1950-52=100--
Tele vision advertising:
Net work :cf
Gross time costs total
Automotive incl accessories
Drugs and toiletries
Foods soft drinks confectionery
Soaps cleansers, etc
Smoking materials
All other
Spot (national and regional) :
Gross time costs total
Automotive incl accessories
Drugs and toiletries
Foods soft drinks confectionery
235
246
188
233
246
185
245
250
192
237
256
187
244
250
183
244
254
194
240
251
190
244
248
190
240
254
184
243
268
194
240
242
192
239
248
189
240
261
186
245
243
188
210
160
23
462
201
143
20
483
216
152
22
518
189
139
23
526
223
132
23
530
212
140
19
520
207
132
19
516
216
128
20
533
200
128
20
544
196
131
18
533
196
133
20
550
191
133
21
551
193
140
17
549
203
146
17
583
1
mil $
do
do
do
do
do
do
56
4
16
10
5. 8
6 4
13.0
i 19.2
i 21 2
137.0
20. 2
23 3
28.9
17 3
21 7
45.7
19.6
21 9
37.0
20.9
21 7
41.2
do
do
do
do
3150 8
1 154. 4
14.3
130.2
i 52. 5
127 6
4.0
24.5
38 4
177 8
4.5
37.3
61 0
182 1
4.2
39.7
64 5
189 4
7 4
31.8
62.8
U8.0
1
7.4
141.9
16.1
6.3
38 4
17 4
7.6
50 2
21 5
8.4
43 8
23 5
9.0
54 9
69.7
4.5
7.0
2.5
6.6
10.2
80.0
8.6
7.1
3. 6
7.7
9.0
Soaps cleansers, etc
do
Smoking materials
do All other
do
Magazine advertising:
Cost, total
do
Apparel and accessories
__do _
Automotive, incl. accessories. .
do
Building materials
_ _ _ _ _ _ _ _ _ d o _ _.
Drugs and toiletries
do
Foods, soft drinks, confectionery
do
9
6
3
8
1780
i 12 0
i 52 0
1
36 7
166
8
51
33
2
7
9
2
198
16
58
39
194
12
60
42
6
3
4
3
6
7
7
7
193
12
58
39
2
2
1
1
84 7
5.1
9.4
1.8
7 7
12.3
68.5
3.3
5.8
.9
7 1
9.3
48.9
1.4
6.9
1.0
4 4
7.5
66.9
2.7
7.3
2.4
6 3
12.3
81.3
5.0
9.3
3.5
7 0
12.5
87. 1
7.2
10.8
3. 6
7.5
11.1
82.0
5.7
9.2
3.7
7 3
10.1
72 9
2.9
7.6
2.6
81
10.3
51 7
.9
4.4
1. 7
6 4
8.8
50 2
5.2
3.6
14
50
71
75 0
8.4
5.6
2.7
6 9
9 4
4.2
4.3
3.8
5.1
Beer, wine, liquors _ _ _
do _.
5.8
5.6
4.8
6.2
Household equip., supplies, furnishings__do
8.0
7.1
4.6
3.8
Industrial materials
_
do _
4.8
5 2
4.8
.7
.8
.6
.9
Soaps, cleansers, etc__
_ _ _ do_ _ _
1. 1
2.4
2 2
2 6
2 3
2 6
Smoking materials
do
22.9
21.7
27.4
25.8
26.5
All other
do
T
2
Revised.
i Quarterly average based on quarterly data.
End of year. 3 Quarterly average based on revised annual total; breakdown not available.
^Copyrighted data; see last paragraph of headnote, p. S-l.
*New series; data prior to
June 1961 will be shown later.
©Revised to reflect data as of 1st of indicated month and
shift to 1957-59=100 reference base; data for building costs prior to Aug. 1961 are shown on
p. 18 of the Oct. 1962 SURVEY. fRevised to reflect current specifications and base period;
data prior to 4th qtr. I960 are available upon request.
7.5
4.2
3.6
.5
2 9
23.2
2.4
1.9
2. 1
.3
1.9
19.2
3.3
3.1
2.5
.7
2 8
23.6
4.7
4.9
3.6
.8
2 6
27.5
3.7
7.2
4.2
.8
2.6
28.5
4.6
7.5
4.3
.7
2.9
26.0
5.1
5.0
4 1
.6
35
23.2
3.6
3.4
32
.6
2 7
16.0
2 8
2.4
33
7
2 5
16.3
39
5.0
4 9
10
2 5
24.7
71.1
4.7
7.8
3.0
6 7
9.8
89 8
6.0
11.0
2.9
8 7
13 0
9 Includes data for items not shown separately.
JRevisions for 1955-Mar. 1961 (1959-1960 for lumber and wood) are available upon request.
cf Revised beginning 1961 to provide for horizontal contiguity rate structure, wherein a
single advertiser might obtain a lower basic rate through the purchase of time across-theboard; not directly comparable with earlier data.
SURVEY OF CURRENT BUSINESS
November 1962
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
S-ll
1962
1961
Monthly
average
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
June
Mar.
Apr.
May
246.0
63.6
182.4
13.7
5.5
27.6
135. 6
256.9
65.9
190.9
15.1
4.4
30.5
140.9
227.6
62.3
165.3
14.2
4,4
26.1
120. 6
July
Aug.
Sept.
207.0
61.7
145.3
12.6
5.4
19.0
108.3
229.8
64.6
165.1
11.3
3.5
20.0
130.4
239. 5
63.2
176.3
11.2
4.1
26.1
134.9
Oct.
DOMESTIC TRADE—Continued
ADVERTISING— Continued
Newspaper advertising linage (52 cities):
Total
mil . lines
Classified
do
Display total
do
Automotive _
do __.
Financial .
do
General
do
Retail
. _
_
__
do -
240.7
61.3
179. 5
13.8
4.5
28.8
132.4
231.4
58.1
173.3
12.3
4.9
26.9
129.1
231.8
59.1
172.7
13.7
4.2
26.9
127.9
260.9
63. 2
197.8
13.9
5.2
34.1
144.6
261.3
57.5
203.9
13.0
4.8
31.5
154.5
242.8
50.8
192.0
8.9
5.6
23.3
154.3
201.3
55.7
145.6
10.7
7.8
18.7
108.4
198.9
54.1
144.8
11.4
4.4
23.4
105.6
236.9
62.2
174.7
12.7
4.8
27.6
129.5
18, 294
18,234
18, 149
18,751
19,215
22,869
16, 942
15,982
18, 970
19, 172
20, 144
20,184
5,894
3,292
3,082
211
5,608
3,076
2,870
206
5, 377
2,722
2,510
212
6,037
3,298
3,082
216
6,086
3,389
3,180
209
6, 295
3,136
2,862
274
5,174
3,106
2, 931
175
4, 980
2,994
2 832
162
6,139
3,780
3,579
201
6,284
3, 763
3, 544
219
6,828
4,026
3,786
240
6,786
3. 944
3. 697
247
6,330
3, 567
3,334
233
' 6, 321 ' 5, 589
' 3, 421 ' 2, 801
'3,194
2, 595
'227
206
883
564
319
943
718
224
865
547
318
913
700
213
879
553
326
985
775
210
915
591
324
1,028
821
207
960
614
346
949
743
206
1,181
718
463
906
626
280
781
492
289
687
522
165
725
461
264
652
501
151
814
532
282
816
623
193
789
529
260
950
728
222
876
577
299
1,063
814
249
894
580
314
1.068
829
239
873
573
300
1.070
850
220
'948
' 625
'323
' 1,096
'874
'222
12, 400
Nondurable goods stores 9
do
1,142
Apparel group .. __ - .
do
218
Men's and boys' wear stores
do ..
Women's apparel, accessory stores
do
444
276
Family and other apparel stores. ... do _.
204
Shoe stores
do
12, 626
1,144
222
439
282
201
12,772
1,153
201
438
285
229
12,714
1,188
224
462
299
203
13,129
1,261
252
483
329
197
16, 574
2,051
449
770
550
282
11.768
948
196
361
225
166
11,002
795
149
312
189
145
12, 831
1,063
186
418
263
196
12,888
1,307
221
496
320
270
13,316
1,183
221
463
285
214
13, 398
1,121
233
407
269
212
RETAIL TRADE
A 11 retail stores:
Fstimated sales (unadj.). total t©
mil $
Durable goods stores 9 ©
do
Automotive group©
do
Motor veh., other automotive dealers-do
Tire, battery, accessory dealers©
do
Furniture and appliance group .
do
Furniture, homefurnishings stores
do
Household appliance, TV, radio
do
Lumber, building, hardware group1 . do ._
Lumber, bldg. materials dealersd"
do
Hardware stores
do
Drug and proprietary stores
Fating and drinking places-.
Food group
_
Grocery stores
Gasoline service stations.
c
19, 068 ' 19, 852 '18,839 1 20, 913
1
1
'907
592
315
1,005
787
218
12. 738 ' 13, 531 '13,250
971 ' 1,096 ' 1,177
192
203
185
414
446
368
'275
291
236
'215
237
182
7, 169
4, 204
1. 003
1
13,
1
744
1,193
do
do
_ do
do
.do
628
1,341
4, 486
4, 028
1, 466
645
1,367
4,618
4,159
1,498
629
1,440
4,816
4,357
1,519
634
1,409
4,523
4,070
1, 550
646
1,359
4,595
4,146
1,514
890
1,421
5, 168
4, 670
1,546
651
1,272
4,470
4,043
1,447
622
1,185
4,314
3,902
1,333
657
1,336
4,971
4, 522
1,487
643
1,371
4,520
4, 073
1,511
669
1,486
4,791
4, 326
1,577
667
1,537
5, 033
4,563
1,623
646
1, 566
4,733
4,267
1, 647
658
' 1, 630
' 4, 997
' 4, 521
' 1, 662
'641
1,524
4, 855
4, 390
1,568
i 675
1,583
4, 838
4, 368
1,626
General merchandise group 9
do
Department stores
do
Mail order houses (dept. store mdse.). do
Variety stores
do
Liquor stores
_ do
2,001
1, 162
155
325
407
2,076
1,213
161
340
409
2,070
1,225
150
331
403
2, 165
1,284
178
332
397
2, 459
1,452
237
375
430
3, 853
2,293
248
724
647
1,632
945
131
249
378
1,513
850
121
265
360
1,966
1,146
145
324
395
2,157
1,253
156
363
388
2,206
1,287
163
351
409
>-> 146
1,267
137
352
420
1,930
1,110
131
323
422
' 2, 247
' 1, 272
180
'367
2,240
1, 304
165
355
424
2, 461
1,429
_
_
Fstimated sales (seas adj ) totalf©
do
18,131
18,577
19,098
18,827
18,835
18, 965
19,266
19,596
19, 432
19,089
Durable goods stores 9 ©
do
Automotive group©
do
Motor veh., other automotive dealers-do
Tire, battery, accessory dealers©
do
5, 610
3, 109
2,893
216
5, 855
3,268
3,056
212
6,190
3,600
3,392
208
5,915
3,277
3, 050
227
5, 920
3. 348
3,126
222
5,977
3, 361
3,138
223
6,180
3,557
3,329
228
6,332
3,646
3,422
224
6,169
3,520
3,297
223
6, 029
3,436
3,220
216
Furniture and applian ce group
do
Furniture, homefurnishings stores
do
Household appliance, TV, radio. _ do
Lumber, building, hardware group _ do
Lumber, bldg. materials dealers o"
do
Hardware stores
do
876
556
320
875
670
205
880
562
318
918
719
199
866
545
321
930
729
201
914
577
337
949
726
223
885
569
316
927
714
213
879
558
321
932
722
210
888
576
312
937
715
222
888
582
306
972
753
219
876
562
314
946
728
218
861
565
296
923
713
210
12, 521
1,106
218
430
265
193
12, 722
1,173
231
453
282
207
12,908
1,187
229
459
295
204
12,912
1, 164
218
445
294
207
12, 915
1,185
224
447
300
214
12, 988
1,170
218
438
297
217
13, 086
1,217
232
464
306
215
13, 264
1,207
231
450
304
222
13, 263
1,196
236
451
304
205
13,060
1,114
208
431
277
198
641
1,377
4,602
4,153
1,511
644
1,369
4,646
4,183
1,521
675
1,398
4,694
4,244
1,519
693
1, 407
4,631
4,196
1,539
655
1,387
4,684
4,236
1,543
665
1,414
4,732
4,280
1,539
658
1,441
4,680
4, 237
1, 552
675
1,426
4,787
4,318
1,547
677
1,444
4,801
4,335
1,533
680
1,464
4, 722
4, 269
1, 553
674
1,404
4,835
4,368
1, 525
673
1,461
4,856
4,391
1,546
660
1,465
4,948
4,474
1,567
2,075
1 225
157
331
386
2,101
1,216
166
349
411
2,165
1,245
174
370
421
2,184
1,311
158
347
409
2, 133
1,232
163
360
431
2,138
1,241
159
366
432
2,246
1,323
162
380
409
2,253
1,308
171
379
443
2,268
1,320
167
376
433
2,198
1,299
160
357
418
2,287
1,344
167
374
433
2,301
1,310
181
'381
'454
2,340
1,363
182
371
424
Nondurable goods stores 9
Apparel group
Men's and boys' wear stores
Women's apparel, accessory stores
Family and other apparel stores
Shoe stores
Drug and proprietary stores
Eating and drinking places .
Food group
Grocery stores
_ __
Gasoline service stations
_
_.
do
do
do
do __
do
do
do
do
do
do
do
General merchandise group 9
do
Department stores
do
Mail order houses (dept. storemdse.)_do
Variety stores
_. _ do _
Liquor stores
__
_
do
Estimated inventories, end of year or month: t
Book value (unadjusted), total
bil. $__
Durable goods stores 9
do
Automotive group
do
Furniture and appliance group
do
Lumber, building, hardware group do
19, 682 ' 19, 569 ' 19, 662 i 20, 071
6,378 ' 6, 128 ' 6, 108
3,658 ' 3, 423
3,364
3,446 '3,218
3,144
'205
220
212
908
604
304
978
763
215
'909
'595
'314
'951
'736
'215
13, 304 '13,441 ' 13, 554
1,200 ' 1, 224
1,188
237
233
229
463
462
458
'301
301
288
'223
208
209
25.78
11.03
4.38
1.88
2.25
26.26
10.72
3.81
1.91
2.31
27.00
10. 96
3.90
1.95
2.30
27.71
11.26
4.12
1.99
2.30
25.78
11.03
4.38
1.88
2.25
25.82
11.37
4.76
1.85
2.28
26.56
11.62
4.96
1.87
2.32
27.37
11.83
4.99
1.92
2.44
27.54
11.99
5.04
1.97
2.50
27.44
11.98
5.04
1.94
2.49
27.02
11.77
4.87
1.92
2.48
26.91
11.76
4.88
1.91
2.46
' 26. 66 26.97
' 11. 17
10.94
4.21
3.95
1.92
1.97
'2.44
2.42
14.26
3.16
3.14
3.89
14.75
3.22
3.31
4.04
15.54
3.59
3.28
4.58
16.04
3.71
3.38
4.81
16.45
3.70
3.48
4.94
14.75
3.22
3.31
4.04
14.45
3.09
3.24
3.98
14.94
3.25
3.31
4.20
15.54
3.41
3.37
4.43
15.56
3.41
3.35
4.46
15.46
3.35
3.37
4.42
15.25
3.26
3.34
4.34
15.15
3.19
3.28
4.38
' 15. 48
'3.40
3.28
4.53
16.03
3.59
3.36
4.76
27.18
12.33
5.27
1.95
2.44
26.86
11.52
4.69
1.92
2.33
26.34
11.26
4.38
1.89
2.34
26.40
11.25
4.37
1.89
2.33
26.75
11.44
4.58
1.89
2.36
26.86
11. 52
4.69
1.92
2.33
26.86
11.52
4.69
1.93
2.34
26.90
11.48
4.66
1.93
2.34
26.78
11.38
4.54
1.93
2.38
26.87
11.43
4.54
1.96
2.41
26. 94
11.42
4.54
1.93
2.40
27.08
11.45
4.55
1.92
2.43
27.18
11.59
4.67
1.94
2.44
' 27. 05
' 11.51
4.58
1.92
2.45
27.19
11.64
4.70
1.94
2.44
15.34
14.85
15.09
Nondurable goods stores 9
do
15.14
15. 32
3.41
Apparel group
do
3.36
3.39
3.33
3.39
Food group
___
do
3.14
3.31
3.32
3.31
3.39
General merchandise group
do
4. 26
4. 44
4.34
4.32
4.32
T
Revised.
1 Advance estimate.
fData for retail sales (1946--50) and for who lesale
sales and inventories (1946-47) have been revised for comparability with la ter data; new
figures are available upon request.
9 Includes data not shown sep arately.
©Revised
beginning Feb. 1961; revisions for Feb.-Apr. 1961 will be shown later.
cfCom arises
15.34
3.41
3.31
4.44
15.34
3.40
3.32
4.43 '
15.42
3.39
3.34
4.44
15.40
3.35
3.35
4.41
15.44
3.39
3.33
4.44
15.52
3.40
3.36
4.46
15.62
3.43
3.34
4.52
do
do
___do
do
Book value (seas, adj.), total
do
Durable goods stores 9
-do
Automotive group
do
Furniture and appliance group
do
Lumber, building, hardware group, .do
6, 607
942
619
323
938
714
224
25.98
11.72
4.88
1.90
2.35
Nondurable goods stores 9
Apparel group
Food group
_
General merchandise group
1
1
13, 464
15.59 ' 15. 54 15.55
3.41 '3.39
3.34
3.30
'3.33
3.38
'4.51
4.54
4.50
lumbe r yards, building materials dealers, and paint, plunibing, arid electr cal store s.
Detail
inv
entories
have bee n revised beginniiig 1946. Revisioiis for De c. 1957-Stjpt. 1960
tl
appeal• on p. 2 4 of the Dec. 19()1 SURVI:Y; those for the earlier period are5 available upon
request.
« C orrected
SUKVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
November 19(>:
1962
1961
Monthly
average
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept,
Oct.
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
Firms with 4 or more stores:
Estimated sales (unadjusted), totall
Firms with 11 or more stores :
Estimated sales (unadj.), total 9 If
r
4,724
5,127
5,273
5,231
5, 592
7,466
4,564
4,306
5 252
5, 236
5, 396
5 499
5 041
5 526
5,408
4,223
4, 378
4,499
4,414
4,716
6,364
3,866
3,673
4,508
4,464
4,594
4,698
4,269
4,670
4,557
293
29
118
85
121
93
37
297
30
120
86
127
95
38
305
24
122
97
122
101
36
310
32
125
85
122
98
41
335
37
138
85
130
98
43
542
64
229
129
212
100
50
224
24
85
70
124
93
32
198
18
79
64
118
88
31
273
25
108
82
130
98
41
3619
3
138
118
130
98
37
315
29
128
97
132
103
41
299
30
116
95
134
106
38
250
22
100
79
129
105
36
291
23
115
96
131
106
41
318
25
125
105
127
101
39
1,290
781
251
1,785
69
82
1,354
823
262
1,843
63
83
1,352
834
256
1 953
71
82
1,421
872
261
1 771
74
87
1,610
975
286
1 843
64
85
2,517
1,517
550
2, 135
51
116
1, 052
642
183
1 784
42
72
965
576
196
1,744
44
64
1,253
775
941
2,100
54
80
1,398
858
277
1 805
62
87
1,424
883
268
1 908
69
100
1,402
875
271
2 041
71
101
1,262
770
248
1 818
72
96
1 459
870
285
1 960
76
91
1 , 436
884
271
1 893
67
86
- do __
4 377
4 432
4 516
4 569
4,501
4 523
4,653
4 582
4,591
4 523
4 635
4 670
4 689
do_ _
do
do _
do
do
do
do
288
28
120
82
126
98
36
308
32
125
90
126
96
38
313
31
128
90
135
100
37
302
30
125
84
141
100
41
314
30
126
95
133
101
39
313
29
125
97
135
99
36
311
31
124
95
133
100
41
302
29
119
92
138
100
39
311
30
122
93
134
102
40
291
28
117
86
136
102
37
314
30
125
92
134
99
40
330
32
127
98
135
99
40
313
30
129
93
133
99
41
General merchandise group 9
do
Dept stores, excl. mail order sales
__do
Variety stores
do
Grocery stores
__do_ _
Lumberyards, bldg. materials dealers cf- -do
Tire battery accessory dealers^
do
1 350
827
261
1 856
61
87
1 379
830
276
1, 845
64
88
1 410
851
279
1,877
63
87
1,434
916
257
1,899
63
90
1,408
848
268
1, 865
56
92
1,407
858
272
1,890
63
88
1,511
941
288
1,903
64
91
1 414
852
283
1,921
65
89
1,451
878
287
1,906
61
89
1 420
870
275
1,899
61
87
1 472
896
287
1,913
64
89
1 487
886
302
1 921
62
86
1 496
916
284
1 936
61
93
11,838
12, 368
5, 958
6,410
6, 886
13, 053
5,903
12, 301
5, 698
7, 150
7, 161
12, 135
5, 609
6, 526
12,678
5,864
12, 868
5, 948
6, 920
6,812
12,007
5,530
6,477
6 626
5,212
12, 200
6, 016
6,184
6,819
5, 381
5,777
7,008
5,860
13,010
6,088
6,922
7,008
6,002
mil. $__
do
Apparel group 9
do
Men's and boys' wear stores
do _Women's apparel, accessory stores -_ _ do
Shoe stores
do
Drug and proprietary stores
-- -do
Eating and drinking places
_ __ _ -do
Furniture, homefurnishings stores
do- ,_
General merchandise group 9
Dept. stores, excl. mail order sales
do_ _ _
do
Grocery stores
-- do
Lumber yards, bldg. materials dealerscf-do
Tire battery, accessory dealersf
-do. _.
Estimated sales (seas ad 3 ) total 91
Apparel group 9
-- IVIen's and boys' wear stores
Women's apparel, accessory stores
Shoe stores
Drug and proprietary stores
Eating and drinking places
Furniture homefurnishings stores
All retail stores, accounts receivable, end of mo.:*
Total
.mil. $. ' 12,937 ' 13,053
5,903
Durable goods stores
do_ __ 6, 104
6,833 7,150
Nondurable goods stores
_ _ _ _.do
7,122
7,161
Charge accounts
do
5,815
5,892
Installment accounts
do
Department stores:
Ratio of collections to accounts receivable:
Charge accounts
percent ._
Installment accounts
do
Sales by type of payment:
Cash sales
percent of total sales. _
Charge account sales
do_ __
Installment sales
do
Sales, total United States: t
Unadjusted
1957-59=100..
Seasonally adjusted
do
Stocks, total U.S., end of month:$
Unadjusted
do
Seasonally adjusted
do
5, 866
5,972
5,482
5,892
6,603
5,489
5,466
6,562
5,573
6,541
6,814
6,901
12, 948 r!3 045 13 227
6,153 r 6 ?13
6,170
6,795 r Q £$2
7 057
6,898 T Q 973 7 058
6, 050 r 6 072
6 169
46
15
47
15
46
15
48
16
49
17
48
16
47
16
46
15
50
16
46
17
48
17
48
17
47
16
47
17
46
17
43
42
15
43
42
16
42
42
16
41
43
16
42
42
16
45
40
15
42
40
18
42
41
17
42
42
16
43
41
16
42
41
17
43
40
17
44
39
17
44
39
17
42
41
17
106
109
109
110
»-ll3
134
112
204
113
83
109
82
110
95
117
112
113
110
114
105
111
96
114
104
115
rpH7
109
118
r 112
125
112
129
112
103
113
101
114
107
114
116
116
118
115
116
116
112
118
112
118
117
118
P 125
P ng
109
110
P 117
P i 14
P i in
WHOLESALE TRADE t
Sales, estimated (unadj.), total
Durable goods establishments
Nondurable goods establishments
bil. $_.
do _ _
do _ _
Inventories, estimated (unadj.), total _
Durable goods establishments
Nondurable goods establishments
do
do
do
12.33
4.44
7.89
12.56
4.28
8.27
12.61
4.42
8.19
13. 69
4.74
8.95
13.64
4.55
9.09
12.87
4.22
8.65
12.33
4.14
8.19
11.57
3.96
7.61
12.98
4.52
8.46
12.60
4.54
8.06
13.52
4.76
8.76
13.12
4.69
8.43
12.71
4.47
8.24
' 13. 71
12.89
4.51
8.38
113.21
1 13. 49
6.68
6.81
13.57
6.82
6.75
13.74
6.77
6.97
13.78
6.74
7.04
13.49
6.68
6.81
13.59
6.72
6.87
13.56
6.79
6.77
13.68
6.96
6.72
13.61
6.98
6.62
13.59
7.05
6.54
13.71
7.08
6.63
13.70
7.06
6.64
T
r
7.01
r
6. 75
13 76
6.96
6 80
185. 71
185. 94
186. 15
186. 37
186. 59
186 85
187 11
187 38
6.61
6.60
r
4.78
'8.93
13 76
EMPLOYMENT AND POPULATION
POPULATION
Population, U.S. (incl. Alaska and Hawaii):
Total, incl. armed forces overseas§.
mil
2 180.68 2183.74
184. 29
184. 57
184. 84
EMPLOYMENT 0
Noninstitutional population, est. number 14 years
of age and over, total, unadj.
mil_
125. 37
127. 85
128.37
128. 57
128. 76
128. 94
129. 12
129. 29
129. 47
129. 59
129. 75
129. 93
130 18
130 36
130 55
130 73
73, 126
70, 612
66, 681
5,723
60, 958
74,175 73, 670 74, 345 74, 096
71, 603 71,123 71,759 71, 339
66, 796 67, 038 67, 824 67, 349
5,964
5, 463 5,666
5, 199
61,333 61, 372 61,860 62, 149
73, 372
70, 559
66, 467
4.418
62, 049
72, 564
69, 721
65, 058
4,417
60, 641
73, 218
70, 332
65, 789
4,578
61,211
73, 582 373,654
70, 697 70, 769
66, 316 3 66, 824
4,782 4,961
61, 533 61, 863
74, 797
71, 922
68, 203
5,428
62, 775
76, 857
74, 001
69 539
6,290
63, 249
76,437
73 582
69 564
6 064
63 500
76, 554
73 695
69 762
5 770
63' 993
74, 914
72 179
68 668
5 564
63 103
74, 923
72 187
68 893
5 475
63 418
4,806
1,532
6.7
53, 677
4,091
1,233
5.8
55, 570
4,663
1,252
6.7
56, 554
4,543 4,382
1,431 1,485
6.5
6.2
56, 072 55, 889
3,719
1,274
5.2
54, 956
4,463
1,033
6.0
53, 072
4 018
921
5 5
53, 746
3 932
934
53
53, 805
3 512
906
49
55 631
3 294
865
4 6
55 808
Total labor force, incl. armed forces
Civilian labor force, total
Employed, total
Agricultural employment
_
Nonagricultural emplovment
Unemployed, total
Long-term (15 weeks and over)
Percent of civilian labor force
Not in labor force
thous._
do
do
_ do _
do
do
3,931
do
956
5.6
- thous__ 52, 242
4,085
1,257
5.7
54, 701
3,934
1,240
5.5
54, 226
3,990
1,137
5.6
54, 659
70, 981 71, 473 71, 482
Civilian labor force seas adj.*
do
66, 243 66, 822 67, 148
Employed, total
_
do _ .
5,472 5,311
Agricultural employment
do
5,156
61,188 61,369 61,840
Nonagricultural employment
do
4,762
4,867
4,370
Unemployed total
do
6.7
6.8
6.1
Percent of civilian labor force
r
1
2
3
Revised.
*> Preliminary.
End of year.
As of July 1.
See note"®".
1 Revised beginning Feb. 1961; revisions for Feb.-Apr. 1961 will be shown later.
9 Includes data not shown separately.
& Comprises lumber yards, building materials dealers, and paint, plumbing, and electrical stores.
tSee corresponding note on p. S-ll.
§Revisions (1950-61) are available.
*New series. Back data for accounts receivable are available from Bureau of the Census.
185. 07
185. 29
185. 51
3,946
1,483
5.6
55, 933
71, 272 71, 435 71, 841 71, 774 3 71, 484 71, 850 71, 706 71 578 72 392 72 035 71 899
66, 936 67, 278 67, 894 67, 947 367,499 67, 931 67, 711 67 735 68* 194 67 854 67 875
5,204
5,453
5, 603
5,560
5,255
5,214
5 190
5 143 5 166
5 063 5 093
61,618 61, 690 62, 206 62, 280 62, 236 62, 775 62, 747 62 809 63 172 62 914 62 915
4,159
4,274
4,008 3,914 3,963 3,903 3 917 3 828 4 218 4 167 3 977
6.0
5.8
5.6
5.5
5.4
5.5
5.5
5.3
5.8
5.8
5.5
Monthly labor force data (1948-60) appear in" Employment and Earnings," BLS (Feb. 1962).
^Revised series, reflecting (1) adjustment to 1958 Census of Business benchmarks, (2)
shift to 1957-59 base period, and (3) review of seasonal factors. Revisions beginning 1947
appear in the FEDERAL RESERVE BULLETIN, July 1962.
©Beginning Apr. 1962, not strictly
comparable with earlier data; see July 1962 SURVEY.
SURVEY OF CURRENT BUSINESS
November 10(52
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
Monthly
average
S-13
1962
1961
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.*
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT- Continued
Employees on payrolls (nonagricultural estab.):f
Total unadjustedf
thous
r
54, 347
54, 077
54 978
55, 065
55, 129
55,503
53, 737
53, 823
54, 056
54, 849
55, 209
55, 777
55 493
Manufacturing establishments
Durable goods industries
Nondurable goods industries
16, 762
do
9,441
do
do.- - 7,321
16, 267
9,042
7,225
16,646
9,189
7,457
16, 607
9,201
7.406
16, 658
9, 329
7,329
16,556
9,297
7,259
16, 370
9,222
7,148
16, 452
9,287
7,165
16, 525
9,339
7,186
16, 636
9,422
7,214
16, 682
9,475
7,207
16, 870
9,547
7,323
16, 782
9 463
7,319
Min ins;, total 9 _
Metal
Coal mining
Crude petroleum and natural gas
do
do
do
do
709
93
182
314
666
87
156
309
676
88
155
311
668
86
156
306
667
88
157
306
657
85
156
306
647
86
154
305
642
86
153
302
640
86
149
302
647
87
146
302
657
88
145
304
661
89
143
308
648
88
130
310
Contract construction
Transportation and public utilities?
Railroad transportation
Local and interurban passenger transit
do
do
do
do
2,882
4,017
887
283
2,760
3,923
820
270
3, 021
3,971
826
268
2,981
3,953
822
268
2, 825
3,943
816
267
2,575
3,927
824
269
2,298
3,863
801
270
2,282
3, 863
799
267
2,328
3,880
803
262
2,589
3,904
808
267
2,749
3,924
815
266
2,839
3,965
819
261
874
191
706
613
875
197
695
611
907
203
694
616
913
202
689
608
913
199
688
606
895
200
686
604
867
200
684
602
872
201
684
600
879
204
685
600
887
205
687
601
893
207
688
602
919
208
692
613
920
193
698
618
11,412
3,009
8,403
2,684
7,361
8,520
11,368
3, 008
8, 361
2,748
7,516
8, 828
11,378
3, 035
8,343
2, 770
7, 612
8,904
11,450
3, 049
8,401
2, 758
7,618
9,030
11, 611
3,051
8, 560
2, 757
7, 596
9,072
12,181
3, 062
9,119
2, 756
7,573
9,278
11, 270
3, 021
8,249
2,747
7,510
9,032
11,188
3,021
8,167
2,749
7, 545
9,102
11,223
3, 022
8,201
2,754
7, 573
9,133
11,470
3,028
8,442
2,770
7,690
9,143
11, 476
3,034
8,442
2,780
7,769
9,172
11, 582
3,074
8,508
2,808
7,881
9,171
11,540
3,091
8,449
2,839
7,884
8,870
r
1
54, 347 '54,077
do
16, 762 16, 267
.do
9,441
9,042
do
187
201
do
637
600
do
383
367
do - 595
567
do
1,229
1,142
do
54, 304
1 6, 323
9,105
54, 385
16,361
9,112
54, 525
16, 466
9,213
54, 434
16, 456
9,217
54, 773
16, 572
9,312
54, 901
16, 682
9,385
55, 260
16, 848
9,490
55. 403
16,891
9,544
55, 535
16, 923
9,555
55, 617
16, 908
9 552
r
r
600
372
602
373
570
612
375
610
379
611
382
609
387
574
598
372
611
386
1,179
1,174
1,178
54,492
16,513
9,244
206
600
375
565
1,184
1, 194
1,211
1,217
1, 223
1,199
1,163
1,149
Motor freight trans and storage
Air transportation
Telephone communication
Electric gas and sanitary services
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services and miscellaneous
Government
Total, seasonally adjustedf
Manufacturing establishments
__
Durable goods industries
Ordnance and accessories
Lumber and wood products
Furniture and
fixtures
Stone, clav, and glass products
Primary metal industries
do
do - do
do
do
do
do
do
_do
do -
203
603
370
573
208
206
207
559
207
563
210
562
211
571
213
579
213
581
55, 709 '56 250
56, 308
16, 931 '17,118 17, 040
' 9, 402 ' 9, 572 9, 580
' 7, 529 T 7, 546
7. 460
'652
642
2,972
2,982 r 3, 031
3,948 ' 3, 963 ' 3, 955
810
784
811
262
254
254
2,915
3.95S
217
607
386
581
'658
84
142
309
928
199
699
619
82
142
307
938
210
694
613
11, 558 '11,629
3. 107 ' 3, 102
8, 451 ' 8, 527
2,841 ' 2. 813
r
7, 867 ' 7. 867
r
8, 860 ' 9, 244
r
11, 707
3, 123
8,584
2, 804
7, 866
9, 376
55, 536 55, 582 55, 626
16. 795 ' 16, 797 16, 794
' 9, 461 ' 9, 486
9 490
222
'220
223
'609
600
'603
380
385
377
'5S3
'
577
579
r
1, 141
1,122
1,135
r
r
Fabricated metal products
__do
Machinery
__
do
Electrical equipment and supplies.-. do
1,128
1,471
1,446
1,076
1,401
1,436
1,090
1,400
1,428
1,091
1,409
1,455
1,097
1.412
1,456
1,098
1.418
1,471
1,092
1,416
1,477
1,097
1,421
1,495
1. 109
1,437
1, 510
1,124
1 , 453
1,528
1,135
1, 460
1,541
1,131
1,470
1,554
1,132
1,474
1,555
Transportation equipment
do
Instruments and related products. _. .do
Miscellaneous manufacturing ind
do
1,617
354
392
1, 522
346
382
1,528
350
381
1,496
349
384
1,579
351
389
1,588
352
387
1,569
351
382
1, 595
352
384
1,611
355
385
1,637
356
394
1,663
359
399
1,687
359
400
1, 688
362
401
7,321
1.793
94
915
1,228
593
917
830
212
374
366
7,225
1,780
90
880
1,200
590
926
830
203
365
361
7,218
1,769
96
880
1,194
589
927
832
202
372
357
7,249
1,787
91
882
1,204
591
925
835
204
370
360
7, 253
1,791
87
884
1,203
593
928
837
197
373
360
7, 269
1,782
89
886
1,211
597
929
839
197
377
362
7,239
1,778
89
884
1,196
593
926
836
200
377
360
7,260
1,776
89
884
1,206
595
929
841
200
381
359
7,297
1,777
90
886
1, 227
599
931
842
199
384
362
7,358
1,788
88
889
1,258
602
934
847
199
384
369
7,347
1,776
88
890
1,248
604
935
849
199
392
366
7,368
1,774
87
891
1,257
606
937
853
199
399
365
7, 356 *r 7, 334
7,304
7,311
1 763 ' 1 761 1 768
1 777
'93
90
89
'91
879
'873
870
885
1,249 r 1, 246 ' 1 245 1 239
'606
606
602
604
r
937
936
937
'939
854
858
'855
' 855
198
'192
199
193
396
'395
'394
391
362
360
359
359
709
Mining ...
do
2,882
Contract construction
do
4,017
Transportation and public utilities
do
11,412
Wholesale and retail trade.
do
2, 684
Finance, insurance, and real estate
do
7, 361
Services and miscellaneous
do
8,520
Government
do
Production workers on mfg. payrolls, unadjusted:!
Total, unadjusted f
thous.. 12, 562
Seasonally adjusted
do
7,021
Durable goods industries, unadjusted, .do
Seasonally adjusted
do
89
Ordnance and accessories
do
570
Lumber and wood products.
.do
319
Furniture and
fixtures
.do
483
Stone, clay, and glass products
do
992
Primary metal industries
do
471
Blastfurnaces, steel and rolling mills_do
869
Fabricated metal products
do
1,030
Machinery
do
987
Electrical equipment and supplies
do
1,133
Transportation equipment 9
do
566
Motor vehicles and equipment
do ...
392
Aircraft and parts. _ _ _
__ _ . d o
232
Instruments and related products
do
316
Miscellaneous mfg. industries
. do
5, 541
Nondurable goods industries, unadj
do
Seasonally adjusted
do
1,211.
Food and kindred products
do
83
Tobacco manufactures
do
827
Textile mill nroducts--- _ _ . ._
do
1,094
Apparel and related products
do
474
Paper and allied products ..
do
592
Printing, publishing, and allied ind._do
511
Chemicals and allied products
do
138
Petroleum refining and related ind _ do
113
Petroleum refining
. _ _ - . . - do ..
289
Rubber and misc. plastic products do
323
Leather and leather products..
_do
666
2,760
3,923
11,368
2,748
7,516
8,828
666
2, 754
3,939
11,363
2, 756
7, 567
8,936
661
2,758
3, 929
11,365
2,764
7, 580
8,967
665
2, 719
3,927
11, 374
2, 771
7,611
8,992
654
2,699
3,911
11, 366
2,770
7,642
8,937
653
2,594
3,906
11,384
2, 772
7, 640
9,029
653
2, 694
3,914
11,447
2,774
7,675
9,044
654
2, 648
3, 927
11,460
2, 776
7, 681
9,073
656
2, 734
3,935
11, 546
2, 778
7,675
9 088
659
2,716
3,936
11, 596
2,786
7,692
9,127
652
2, 671
3,934
11, 621
2,788
7,749
9. 197
648
2,738
3,913
11 652
2,792
7,783
9 183
12, 044
12,407
12,104
6, 753
6,673
97
565
314
477
955
457
839
960
982
1,013
470
379
226
326
5, 654
5, 431
1,335
106
804
1,082
476
599
509
133
108
292
319
12,379
12, 129
6, 771
6,676
98
555
317
470
950
451
848
955
997
1,021
469
383
226
334
5, 608
5 453
1,286
96
806
1,087
477
602
510
132
107
294
317
12,414
12, 225
6,883
6 766
98
542
316
463
953
446
856
960
1,012
1,124
564
390
229
330
5, 531
5 459
1 , 220
82
805
1,092
478
604
510
126
102
296
320
12, 303
12, 257
6,844
6,797
12,118
12 197
6,764
6 760
97
507
308
432
969
460
840
982
1,008
1,111
555
395
225
288
5,354
5 437
1,109
79
792
1,062
470
592
509
127
105
294
319
12, 187
12 300
6,820
6 846
12,240
12387
6,857
6 903
96
509
311
435
991
474
843
1,014
1,014
1,118
551
393
227
299
5,383
5 484
1,086
69
794
1 106
471
596
518
127
105
295
322
12, 338
12 541
6,931
7 000
12, 372
12 566
6,975
7 037
12, 516
12 581
7,025
7 035
527
313
454
991
473
546
314
467
964
446
571
317
476
936
420
1 025
1,019
1,118
1,026
1,025
1,133
557
382
573
380
1 034
1.039
1, 137
226
308
5,407
5 541
1,111
66
796
1 096
227
315
5,397
5 529
1,121
64
797
1,080
596
527
595
525
129
104
597
520
128
105
294
318
298
313
304
321
12,403 12, 544 ' 12, 748 12, 666
12 551 '12 43° '12 447 |9 416
6,925 ' 6, 862 ' 7, 039
7, 043
7 0*>4 r Q 925 r 6 960
6 946
r 99
T
101
102
101
'576
'566
556
568
323
313
322
'323
481
476
' 480
475
'906
'912
903
904
398
399
399
r 851
' 873
876
852
1 015 ' 1 021 1 015
1 020
1,031 ' 1, 041 ' 1, 060 1, 067
1 121 '1 008 ' 1 136 1 155
441
561
566
384
388
390
226
'229
229
231
316
331
'336
342
5,478 ' 5, 682 ' 5, 709 5,623
5 527 r 5 507 ' 5 487 5 470
1 224 ' 1, 304 ' 1 320 1 256
'90
'100
65
95
786
798
' 796
792
1 071 r I r 129 T i 127
1 118
T 485
485
484
476
596
592
'603
605
52i
r 524
r 523
521
r
r 125
130
!28
124
103
100
104
296
303
309
311
316 '
327
320
X1A
Nondurable goods industries
do
Food and kindred products
do.. .
Tobacco manufactures
do
Textile mill products
do
Apparel and related products
do
Paper and allied products
do
Printing, publishing, and allied incL.do
Chemicals and allied products.. . do
Petroleum refining and related ind do
Rubber and misc. plastic products. __do
Leather and leather products
do
6,613
94
535
304
455
914
428
820
964
963
1,035
492
379
222
306
5,431
1,191
79
793
1,067
470
596
506
131
107
280
319
1
*• Revised.
p Preliminary.
Total and components are based on unadjusted data.
t Revised series. Beginning with the Nov. 1961 SURVEY, data for employment, hours,
earnings, and labor turnover have been adjusted to the Mar. 1959 benchmark and have
been converted to the 1957 SIC. Effective Jan. 1959, the data include Alaska and Hawaii.
98
526
314
449
960
450
851
977
1,013
1,123
565
393
227
307
5,459
5, 460
1, 159
81
801
1,084
477
602
511
124
101
296
322
96
513
310
432
984
470
837
997
1,013
1, 119
553
395
225
295
5,367
5 454
1,088
75
793
1,093
468
593
512
127
105
295
322
98
851
475
98
861
475
97
868
580
378
228
322
5,491
5 546
1, 176
65
803
1 093
483
130
104
r
1, 111
1, 480
1, 541
' 1, 129
' 1,471
1,524
1,122
1 481
1,547
1,619
362
'397
'1,697
359
'391
1,688
358
393
r
646
r
2, 731
'
3,
932
r
11, 627
2,796
r
7, 805
'9 204
' 642
2,709
' 3, 924
'11 614
' 2, 799
' 7, 820
r 9 277
635
2,697
3,934
11 619
2,810
7,827
9 310
The revision affects all series; previously published estimates are not directly comparable
with the revised data. Unpublished revisions (prior to Sept. 1960) on new basis are in BLS
Bulletin No. 1312, available in many public libraries.
9 Includes data for industries not shown separately.
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960 | 1961
Monthly
average
November 196:
1961
Sept.
Oct.
1962
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct."
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT— Continued
Miscellaneous employment data:
Federal civilian employees (executive branch):
United States
thous..
Wash. D.C., metropolitan area
do
2,243
215
2.251
220
2, 253
220
2,254
221
2, 262
221
» 2, 481
1227
Railroad employees (class I railroads) :
Total
do .
Index, seasonally adjusted^
1957-59=100--
805
288.6
2
739
81. 5
745
82. 6
743
83.2
737
84.0
106.9
106.6
95.2
106.4
105. 2
89. 9
120. 7
108. 5
93. 2
121.8
110.5
93.9
39.7
39.8
2.4
40.1
2.4
40.2
2 4
2.3
39.8
H9. 6
2.8
40.0
39.8
2.7
Ordnance and accessories
do_ .
Lumber and wood products
do
Furniture and fixtures
do
Stone, clay, and plass products . ...do...
Primary metal industries
do
Blast furnaces, steel and rolling mills.do
40.7
39 0
40.0
40. 6
39.0
38.0
40.8
39.5
39.9
40.7
39. 5
38.7
Fabricated metal products
Machinery
Electrical equipment and supplies
do
do
do
40.5
41.0
39.8
Transportation equipment 9
Motor vehicles and equipment
Aircraft and parts
Instruments and related products
Miscellaneous nifg industries
do
do
do
do__ .
do
do
do
do
do
do
do
do
do
2,252
222 1
2, 260
223
2, 265
223
2,277
294
740
84.5
721
78.0
720
78.8
723
79.6
726
80.0
110.1
112.3
92. 3
95.9
112.3
90. 5
81.3
108. 5
87.8
82.4
109. 5
88.4
87.6
110.9
88.7
101.2
112.6
89.7
111.6
113.2
90.3
114.0
115.1
92.0
40.4
40. 2
2.8
40.9
40.6
2.7
40.6
40. 6
2.9
41.1
41.2
2.9
40.6
40.4
2.9
41.3
41.2
3.0
39.7
39.8
2.6
40.3
40.3
2.6
40.0
40.3
2.5
40.6
40.9
2.5
40.3
40.5
2.6
40.8
41.0
2.7
40.4
40.8
2.7
41.1
41.3
2 7
40.5
40.6
2.8
41.1
41.1
2.8
40.7
40.5
2.9
41.2
41.0
3.0
40.5
40.5
2.8
40.8
41.0
2.8
40. 9
40. 1
41 . 2
41 . 3
40. 2
40. 2
41.4
40. 5
41.3
41.3
40. 3
39. 5
41.6
39.4
41.3
41.0
40.2
39.1
41.7
38.9
41.7
40.1
40.8
39.8
41.0
37.3
39.0
38.9
40.8
40.7
41.3
39.3
40.2
39.8
40.8
40.6
41.6
38.9
40.6
40.2
41.0
40.6
41.7
39. 5
40.6
40.9
40.9
40.4
41.4
40.4
40.4
41.5
39.9
38.3
41.3
40.4
41.0
41.5
40.1
38.0
40.7
40.4
40.3
41.6
39.4
37.4
MO. 9
40. 5
40. 9
40.2
40. 1
41.0
39.8
41.1
41.3
40.7
41.3
41.2
40.8
41.4
41.9
41. 1
40.3
41.3
40.3
40.6
41.6
40.3
40.9
41.9
40. 5
41.1
42.1
40.6
41.3
42.1
40.7
41.7
42.1
40.9
40.7
41.0
40.9
40.4
39. 3
40. 5
40. 1
41.4
40.7
39. 5
37.8
34. 1
41.4
41.0
39.8
41.3
41.5
41.5
41.1
40.2
42.7
44.1
41.8
41.3
40.4
43.0
44.5
42.3
41.3
40.0
41.2
41.7
41.7
40.8
39.1
41.0
41.0
41.8
40.5
39.1
41.5
41.6
41.9
40. 5
40.1
41.8
42.4
41.8
41.0
40.0
42.2
43.1
41.6
40.9
39.9
39.2
39. 3
2 5
40 9
38.2
39. 5
35. 5
42.2
2.5
40.9
39.0
39.9
35.4
42.5
39. 5
39. 2
2. o
41.6
41.6
40.3
34.5
43.1
39.8
39.6
2 9
41.4
40.8
40.9
35. 8
43.0
39.9
39.7
2 8
41.0
38.3
41.4
36.3
43.2
39.8
39.7
2.7
40.9
40. 1
41.1
35.9
43.0
39. 0
39.2
2.5
40. 2
36.6
40.1
34.5
42.1
39.2
39. 5
2.5
40.0
37.4
40.5
35.9
42.2
39.5
39. 9
2.6
40.2
37.7
40.8
36.6
42.5
39.6
40.2
2.6
40. 5
38.0
40.7
36. 5
42.3
do
do
do
do
..do
do
38. 5
41.3
41. 1
40.8
39.9
36.9
38.2
41.4
41.2
40.9
40.3
37.4
38.4
41.2
41.6
40.9
40.8
36.4
38. 3
41.6
41.7
40.9
40.7
36.7
38.3
41.8
41.6
41.4
41.2
38.0
38.7
41.6
40.8
40.8
41.8
38.7
37.9
41.5
41.7
42.1
40. 7
38.7
38.1
41.4
40.6
40.7
40.2
38.0
38. 5
41.4
40.7
40.5
40.6
38.0
do
do
do
do
40.4
41.8
35. 5
42. 0
40.6
41.4
35. 8
41.8
41.0
41.7
36.6
41.6
41.8
42.1
37.8
42. 5
41.0
41.3
37.6
41.7
40.7
42.1
37.7
41.7
39.9
41.3
37.5
41.0
40.7
41.7
37.6
41.9
do
do
do
do
36. 7
35 4
40.7
35. 9
30. 9
35.8
40.3
36.2
37.4
35.9
40. 6
36.7
38.2
36.8
42.5
37.2
36. a
35. 5
39. ()
36.0
34.9
33.8
36.5
34.9
33.4
32.1
34.0
34.0
Transportation and public utilities:
Local and suburban transportation
do
Motor freighttransportation and storage-do
Telephone communication
do
"Electric gas and sanitary services
do
"Wholesale and retail trade
do
Wholesale trade
do
Retail trade §
do
43.1
41.5
39.6
41.0
39 0
40. 5
38. 5
42.9
41.6
39.4
40. 9
38.8
40.5
38. 1
42.9
42.1
40.3
41.1
38.8
40.5
38.0
42.9
42. 3
40.1
41.2
38.6
40.6
37.8
43.3
41.9
39.7
41.3
38.4
40.6
37.5
43.0
42.0
39.5
41.0
39.0
40.8
38.3
Services and miscellaneous:
Hotels, tourist courts, and motels
do
Laundries, cleaning and dyeing plants. do
39.9
38.8
39.6
38.8
39.4
38.7
39.9
39.1
39.0
38.8
89.72
97.44
108. 67
73.71
92. 34
100. 10
113.42
77.03
92. 73
100. 00
114.11
81.00
94.54
102. 66
115.92
81.41
_do__do__.
do
75.20
92.97
109. 59
76.21
95.24
114. 95
79. 52
97.47
118. 19
do.—
do
do._.
98.82
104. 55
90.74
100. 85
107. 16
94.47
99.45
107. 83
93. 53
2,324
235
2,339
237
' 2. 336
'236
2, 306
231
735
'738
' 80. 3 '79.9
731
79.3
730
79.8
704
78.2
2,284
225
712
79. 9
INDEXES OF WEEKLY PAYROLLSt
Construction (construction workers) t- 1957-59= 100. .
Manufacturing (production workers)! . . _ do ._.
Mining (production workers) t
do
124.8 ' 128. 5 126. 8
113.2 '•113.6 '117.4
88.8 ' 92. 2 92.5
115.9
HOURS AND EARNINGS f
Average weekly gross hours per worker on payrolls
of nonagric'ultural estab., unadjusted:!
All manufacturing estab., unadj.f
hours..
Scasonallv adjusted
do
Average overtime
do
Durable goods industries
do.__
Seasorally adjusted
do
40.6
40.4
3.0
Ml. 2
Ml.O
3.0
40.3
40.1
2.8
41.0
40.7
2.9
41.3
41.8
39.4
37.8
Ml.l
MO. 8
Ml. 6
Ml. 6
MO.O
38.4
41.1
40.3
41.5
41.8
39.3
40.9
41.7
40.3
41.3
Ml. 6
MO. 5
Ml. 6
41. 6
Ml.O
41.3
41.4
40. 6
41.9
42.5
41.6
41.2
39.9
41.9
42.7
41.4
40.8
39.3
Ml.l
40.9
41.5
41.0
39.7
M2.2
42.9
41.9
MO. 7
'39.8
42.4
39.8
40.1
2.8
41.1
38.4
40.9
36.5
42.4
40.1
40.0
2.9
41.2
38.4
41.1
36.8
42.9
40.0
39.8
2.8
42.0
37.2
40.6
36.6
42.8
39.9
39.4
'2.7
Ml. 2
'f 37. 8
40. 6
37.0
' 42. 9
MO.O
'39.7
2.9
41.6
41.0
MO. 2
' 36. 5
' 43. 0
39.4
39.2
2.8
40.9
39.1
40.5
35.7
42. 6
38.4
41.7
41.3
41.0
41.0
37.1
38.4
41.8
41.6
41.2
41.3
37.2
38.3
41.8
42.0
41.4
42.0
38.3
38.2
41.5
42.3
41.6
40.9
38.5
38.4
Ml. 4
Ml. 7
40.8
40.9
'38.1
'38.7
41.5
'42. 5
41.9
Ml. 3
'37.3
3*. 1
41.1
41.5
40.9
41.8
37.6
41.9
41.0
41.7
37.1
42.0
40.9
42.0
35.0
41.9
41.3
42.0
37.2
41.6
40.9
41.3
42.3
41. 6
40.7
36.5
42.3
41.5
41.4
36. 2
42.3
35.1
34.4
38.3
34.4
36.1
35.0
39. 3
35.5
36.7
35.7
39.3
36.2
38.1
36.7
42.2
37.2
37.6
36.1
41.4
36.7
38.4
36.8
42.7
37.4
38.8
37.0
43.5
37.5
38.6
36.6
42.6
37.7
42.6
40.9
39.3
41.2
38.5
40.4
37.7
42.4
41.0
39.4
40.8
38. 5
40.3
37.7
42.8
41.0
39.3
40.9
38.6
40.5
37.8
42. 6
41.2
39.2
40.8
38.5
40.6
37.6
42.8
41.4
39.4
40.8
38.6
40.6
37.7
43.0
41.9
39.7
40.8
38.9
40.7
38.2
42.4
41.9
40.3
41.1
39.2
40.8
38.5
42.8
42.1
40.2
41.0
39.2
40.7
38.6
42.1
42.1
40.7
41.4
38.8
40.8
37.9
39. 0
38.7
38.9
37.9
39.0
38.0
39. 1
38.6
38.9
39.4
39.3
39.9
39.7
39.5
39.6
39.3
39.9
39.1
39.1
39.2
95. 82
104. 39
116.90
78.41
96. 63
105. 32
117.18
76.63
94. 88
103. 17
115.21
73.48
95.20
103. 53
116.47
76.24
95.91
104. 45
117.31
75. 08
96. 56
105. 22
118.43
77.82
96. 80
105. 22
117.16
79.59
97.27
105. 47
116. 88
80.40
98.80
95.75 ' 97. 44
104. 45 '103.89 '105.88
115. 18 ' 115. 34 '116.31
80.40 '81.80 ' 82. 01
80. 12
97.88
119.29
80.12
97.17
119.39
81.32
95. 04
121.58
75.66
92.97
122. 81
77. 59
94.33
122. 81
78.76
95. 68
123. 41
78.76
98. 16
123. 11
78.38
99.60
118. 50
79.95
100. 43
119. 10
78.18
100. 67
116. 62
102. 75
109. 03
96. 05
104. 08
109.18
96.70
105. 16
111.87
97.82
102. 36
110. 27
95.91
102. 72
111.49
95.91
103. 48
112. 71
96.39
104. 39
113.67
97.44
105. 73
114.09
97.68
106. 75
114.09
98.16
104. 30 105. 32 '106.91
112. 59 ••112.32 '112. 74
96. 72 '97.20 ' 99. 22
Transportation equipment 9
_
_do._- 111.52 113.81 1 06. 22 117.29 123. 83
97.27
98.64
97.99
99.53
93.73
Instruments and related products
do__75.84
76.02
76. 78
77. 57
74.28
Miscellaneous mfg. industries
do
*•1 Revised.
» Preliminary.
Includes Post Office employees hired for the C^iristmas season; t icre wen3 about 225,000
2 Basec1 on una ijusted d ata.
sucli employees in the United States in Dec. 1961.
^Effective with Mar. 1962 SURVEY, index is sh own on ilew base period.
125. 13
99.95
78.40
Nondurable goods industries, unadj
Seasonally adjusted
Average overtime
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and related products. .
Paper and allied products
Printing, publishing, and allied ind
Chemicals and allied products
Petroleum refining and related ind
Petroleum refining
Rubber and misc. plastic products
Leather and leather products
Nonmanufacturing
establishments:!
Minin0' 9
Metal mining
Coal mining
Crude petroleum and natural sas
Contract construction
General building contractors
Heavy construction
Special trade contractors
Average weekly gross earnings per worker on payrolls of nonagricultural establishments:!
All manufacturing establishments!
dollarsDurable goods industries
do
Ordnance and accessories
do
Lumber and wood products
do
Furniture and
fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Machinery
Electrical equipment and supplies
118. 66 117.26
98.82
99.14
77.42
77.03
t.See corre spondin g
§Excep t
separ ately.
40.4
40.2
2.8
MO!
9
MO. 9
2.8
MO.y
40.6
40.0
40.7
36. 5
96.72
105. 37
116.31
80.20
80.54 ' 81. 54 81.34
101. 57 '101.50 101.99
116.23 ' 118. 40 115.94
106. 14
112. 19
98. 25
118. 69 119. 97 121. 96 121. 09 121. 93 '119.19 ' 124. 49 126. 35
98.42 100. 04
99.80 1 100. 94
99. 55 100. 04 ' 99. 72 99.88
77.42 ' 78. 01
78.60
79.00
78.80
78. 60
78.80
77.03
9Incl tides data for industries n ot shown
note, DOttom f . S-13.
eating and drinlving places.
SUKVEY OF CUEEENT BUSINESS
November 1962
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
Monthly
average
S-15
1961
Sept.
Oct.
1962
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.p
EMPLOYMENT AND POPULATION—Continued
HOURS AND EARNINGS— Continued
Average weekly gross earnings per worker on payrolls of nonagricultural estab.!— Continued
All manufacturing estab.t— Continued
Nondurable goods industries
dollars
Food and kindred products
do
Tobacco manufactures
do
Textile mill products
...do
\pparel and related products
do
80.36
86.30
64.94
63.60
56. 45
82.92
89.16
69.03
65. 04
57.70
83.74
89.44
67.39
66.09
56.93
84.77
89.84
69.36
67.08
60.14
85.39
89.79
69. 32
68.31
60.62
85. 57
90.80
72.98
67.82
59.95
84.24
90.45
66.25
66.17
57.62
84.28
90.00
68.82
66.83
59.95
85. 32
90.45
72.01
68.54
61.49
85.54
91.13
74.10
68.38
60.96
86.37
92.48
75.65
69.12
60.59
87.02
92.70
76.03
69.46
61.09
95. 37
do
102. 80
do
103.
25
do
do_ __ 118. 78
92.97
do
60. 52
..do
99.45
105.05
106. 81
124. 42
96.72
62.83
102.15
106.37
107.53
126.88
98.74
61.88
101. 91
105. 71
108. 58
125. 93
98.49
62.76
102.38
106. 09
109. 52
126.46
100.12
64.98
101.91
107. 97
108. 99
123. 62
102. 83
66.18
100. 20
105. 36
109. 56
128. 44
99.31
66.18
100. 01
106. 68
108. 47
123. 02
97.28
64.98
101. 15
107. 42
108. 05
123. 32
98. 25
65. 36
101.10
107. 90
108. 84
125. 55
99. 63
63.81
101.34
107. 90
109. 52
126. 05
101.19
63.98
102. 96
107. 62
111.19
127. 68
104. 58
65.88
103.58
107. 34
110.81
129.44
101. 84
65. 84
do
do
do
do
105. 44
111. 19
110.76
103.32
107. 18
113. 44
111.34
105. 75
109.06
114.68
114.19
106.08
111.19
117. 88
117.18
107. 95
109. 88
115.64
116.94
106. 75
109. 89
118. 30
117.62
107. 17
108. 93
116. 88
117.38
106. 60
110. 30
117. 59
116. 94
108. 52
110. 84
118. 29
117. 69
108. 52
110.70
118.01
116.12
109. 20
109.61
119. 28
108.15
108. 52
111.10
118. 86
115. 69
107. 74
110.02
116.88
102.30
110. 83
111.90
11(5 00
113.15
109. 56
112.88
US. 82
112.94
111.67
do
do
_ .-do
..do. _ _
112. 67
103. 72
114.77
118.11
117. 71
108. 83
118.48
123. 08
120.43
109. 85
121.80
126. 25
123. 00 118. 26
112.98 110. 05
127. 08 117.00
127. 97 124. 20
114. 82
106. 13
111.33
121. 80
111.22
102. 08
104. 72
119. 34
113. 37
106. 30
109. 16
119. 37
118. 05
109. 55
114. 30
123. 90
120. 01
112.10
116.33
126. 34
123. 44
114.14
124.07
129. 46
121. 45
111.91
122. 13
127. 72
125. 57
115. 92
127.67
131. 65
127 26
116.92
130. 50
132.38
128 15
117. 12
129. 08
134. 59
Transportation and public utilities:
94.82
Local and suburban transportation
do
104. 17
Motor freight transportation and storage-do
89. 50
Telephone communication
do
Electric, gas, and sanitary services
do. __ 108. 65
98.24
108. 16
93.38
112.48
98.67
111.14
97. 53
114.26
98.24
111.67
96.64
114.95
100.02
111.04
96. 47
115. 64
99. 33
111.72
96.38
114. 80
100. 11
108. 79
95.89
115.77
99.22
109. 47
96. 14
114. 65
99.30
110. 70
95.89
115. 34
100.11
112.06
95. 65
115. 46
100. 58
112.61
96.14
115. 46
101. 48
114.39
97. 66
115.87
100.49
114.81
99.54
117. 14
101.01
115.35
99.29
116.85
100. 20
115. 7H
102. 16
119.23
70.98
91. 13
62.37
72.94
93.56
64.01
73. 72
94. 77
64.60
73.34
94.60
64.64
73.34
95. 00
64.13
73.32
95. 47
64.73
73.92
94.13
64.84
73.92
94.30
65.22
74.50
95.18
65.39
74.31
95. 82
65.42
74.88
96.22
65.98
75.86
96.87
66.85
76.44
97.10
67.38
76.44
96.87
67.55
76. 05
97.51
66.70
67. 15
87.41
69.19
89.83
69.37
90. 26
70.12
90. 35
70.31
90. 58
70. 87
91.72
71.24
92.19
71.23
92. 60
71.62
92.62
71.62
93.20
71.42
93.25
71.80
93.21
72. 56
94. 89
71. 80
94.35
71. 78
93.45
43.89
48.11
45.54
49.28
45. 31
49.15
47.08
50.05
46.41
49.66
46. 80
49. 54
46.29
48.89
46.41
48. 64
46.53
49.41
46.29
50.83
46.77
51.87
47.64
51.35
45.94
50. 70
45.89
50.83
46.14
50. 96
2.26
2.20
2.43
2 36
2.32
2.25
2.49
2.42
2.33
2.25
2.50
2.41
2.34
2.26
2.51
2.43
2. 36
2.28
2.54
2.45
2.38
2.30
2.55
2.46
2.39
2.31
2.56
2.48
2.38
2.31
2.55
2.47
2.38
2.31
2.56
2.48
2.39
2.31
2.56
2.48
2.39
2.31
2.56
2.47
2.39
2.31
2.56
2.47
2.39
2.31
2.56
2.47
2.37
2.29
2.54
2.46
'2.40
'2.31
'2.57
'2.48
2.40
2.32
2.57
2.49
Ordnance and accessories
do
Lumber and wood products
do
Furniture and fixtures
do
Stone, clay, and glass products _ _
do
Primary metal industries
do
Blast furnaces, steel and rolling mills _do
2.67
1.89
1.88
2.29
2 81
3.08
2.78
1.95
1.91
2.34
2.91
3.20
2.79
2.02
1.93
2.36
2.94
3 21
2.80
2.01
1.94
2.37
2.96
3.26
2.81
1.99
1.94
2.37
2.97
3.28
2.81
1.97
1.95
2.37
2.98
3.29
2.81
1.97
1.94
2.39
3.01
3.32
2.82
1.94
1.93
2.37
3.01
3.33
2.82
1.93
1.94
2.38
3.01
3.33
2.84
1.97
1.94
2.40
3.01
3.32
2.83
1.97
1.94
2.40
2.97
3.27
2.83
1.99
1.95
2.42
2.97
3.28
2.83
1.99
1.94
2.42
2.96
3.28
2.82
2.00
1.95
2.43
2.95
3.26
'2.83
'2.01
1.96
2.44
'2.96
3.28
2.83
1.99
1.96
2.44
2.95
Fabricated metal products _
do
Machinery
do
Electrical equipment and supplies
do
Transportation equipment 9
_do__ _
Motor vehicles and equipment-. . __do
Aircraft and parts _ _ _
.-do
Instruments and related products
do
Miscellaneous mfg. industries
do. _.
2.44
2. 55
2.28
2.74
2.81
2.70
2.32
1.89
2.49
2.62
2.35
2.81
2.87
2.78
2.39
1.92
2.48
2.63
2.35
2.81
2.84
2.80
2. 39
1.91
2.50
2.64
2.36
2.84
2.88
2.82
2.40
1.91
2. 52
2.65
2.37
2.90
2.98
2.83
2.41
1.92
2.54
2.67
2.38
2.91
3.00
2.84
2.42
1.96
2.54
2.67
2.38
2.88
2.94
2.84
2.43
1.97
2.53
2.68
2.38
2.86
2.91
2.83
2.44
1.98
2.53
2.69
2.38
2.86
2.91
2.83
2.43
1.97
2.54
2.70
2.40
2.87
2.94
2.84
2.44
1.97
2.56
2.71
2.40
2.89
2.97
2.84
2.44
1.97
2.56
2.71
2.40
2.89
2.95
2.85
2.45
1.97
2. 55
2.70
2.40
2.91
2.98
2.86
2.44
1.96
2.55
2.70
2.40
2.90
2.97
2.87
2.44
1.95
2.57
'2.71
'2.42
'2.95
3.04
2.88
'2.45
1.96
2.57
2.71
2.42
2.98
2.46
1.97
2.05
1.99
2.11
1.70
1.61
1.59
2.26
2.11
2.05
2.18
1.77
1.63
1.63
2.34
2.12
2. 05
2.15
1.62
1.64
1.65
2.37
2.13
2.06
2.17
1.70
1.64
1.68
2.37
2.14
2.06
2.19
1.81
1.65
1.67
2.37
2.15
2.08
2.22
1.82
1.65
1.67
2.37
2.16
2.09
2.25
1.81
1.65
1.67
2.38
2.15
2.08
2.25
1.84
1.65
1.67
2.37
2.16
2.09
2.25
1.91
1.68
1.68
2.38
2.16
2.09
2 25
L95
1.68
1.67
2.39
2.17
2.09
2.25
1.97
1.69
1.66
2.39
2.17
2.10
2.25
1.98
1.69
1.66
2.40
2.17
2.10
2.23
1.97
1.68
1.66
2.42
2.16
2.09
'2.22
1.80
1.63
'1.69
2.42
'2.18
'2.10
'2.24
'1.74
1.68
1.69
'2.43
2.18
2.11
2.26
1.74
1.69
1.68
2. 43
2.67
2.50
2.89
3.02
2.33
1.64
2.75
2.58
3.02
3.16
2.40
1.68
2.77
2.61
3.05
3.21
2.42
1.70
2.76
2.61
3.02
3.17
2.42
1.71
2.77
2.62
3.04
3.19
2.43
1.71
2.79
2.62
3.03
3.17
2.46
1.71
2.78
2.64
3.08
3.21
2.44
1.71
2.80
2.62
3.03
3.16
2.42
1.71
2.79
2.61
3.03
3.15
2.42
1.72
2.81
2.61
3.04
3.17
2.43
1.72
2.81
2.62
3.03
3.17
2.45
1.72
2.81
2.66
3.04
3.18
2.49
1.72
2.81
2.67
3.06
3.21
2.49
1.71
2.82
2.66
3.03
3.17
2.47
1.72
'2.84
2.67
'3.08
3.22
2. 4S
1.73
2.83
2.68
3.06
2.61
2.66
3.12
2.46
3.07
2.93
2.82
3.29
2.64
2 74
3.11
2.53
3.19
3.04
2.94
3.40
2.66
2 75
3.12
2.55
3.22
3.06
3.00
3.44
2.66
2.80
3.10
2.54
3.22
3.07
2.99
3.44
2.68
2.80
3.11
2.56
3.24
3.10
3.00
3.45
2.70
2.81
3.12
2.57
3.29
3.14
3.05
3.49
2.73
2.83
3.13
2.60
3.33
3.18
3.08
3.51
2.71
2.82
3.11
2.59
3.23
3.09
2.85
3.47
2.71
2.83
3.13
2.59
3.27
3.13
2.91
3.49
2.70
2.83
3.13.
2.60
3.27
3.14
2.96
3.49
2.68
2.84
3.09
2.59
3.24
3.11
2.94
3.48
2.69
2.83
3.11
2.59
3.23
3.10
2.95
3.48
2.69
2.83
2.62
3.27
3.15
2.99
3.52
2.69
2.85
3.10
2.59
3.28
3.16
3.00
3.53
2.72
2.87
3.12
2.64
3.32
3.20
3.03
3.57
2.20
2.51
2.26
2.65
2.29
2.60
2.37
2.75
2. 30
2. 64
2.42
2.78
2.29
2.64
2.41
2.79
2.31
2.65
2.43
2.80
2.31
2.66
2.44
2.80
2.35
2.66
2.44
2.81
2.34
2.67
2.44
2.81
2.32
2.70
2.44
2.82
2. 35
2.72
2.44
2.83
2.35
2.72
2.44
2.83
2.36
2.73
2.46
2.84
2.37
2.74
2.47
2.85
2.36
2.74
2.47
2.85
2.38
2.75
2.51
2.88
1.82
do
1.88
1.90
1.90
2.31
2.34
2.33
1.62
Retail trade§
do
1.68
1.70
1.71
Services and miscellaneous:
1.10
1.15
Hotels, tourist courts, and motels
do
1.15
1.18
1.24
Laundries, cleaning and dyeing plants, .do
1.27
1.27
1.28
r
Revised.
» Preliminary.
f See corresponding note, bottom p. S-13.
8 Except eating and drinking places.
x Includes
data for industries not shown separate!}r.
cf Derived by assuming that overtime hours are pa id at the rate of 1 ime and one -half
http://fraser.stlouisfed.org/
1.91
2.34
1.71
1.88
2.34
1.69
1.92
2.33
1.72
1.92
2.34
1.73
1.93
2.35
1.73
1.93
2.36
1.74
1.94
2.37
1.75
1.95
2.38
1.75
1.95
2.38
1.75
1.95
2.38
1.75
1.96
2.39
1. 76
Paper and allied products
Printing, publishing, and allied ind
Chemicals and allied products
Petroleum refining and related ind
Rubber and misc plastic products
Leather and leather products..
Nonmanufacturing establishments:!
Mining 9
Metal mining
_
Coal mining
Crude petroleum and natural gas
Contract construction
_
General buildin^ contractors
Heavy construction
Special trade contractors _
Wholesale and retail trade . ..
Wholesale trade
Retail trade§
_._
_. _ do _.
- - do
do__ -
Finance, insurance, and real estate:
Hanking
_
_
_. -do
Insurance carriers. do
Services and miscellaneous:
Hotels, tourist courts, and motels
do
Laundries, cleaning and dyeing plants. -do
Average hourly gross earnings
per worker on payroils of noriagricultura 1 establishments:!
All manufacturing establishments!
dollars-Excluding overtimed 1
do
Durable goods
industries
do
Exclud'n 0 ' overtimed1
do
Nondurable goods industries
Excluding overtimed1 Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and related products
Paper and allied products
do
do __
do
do
do
do
do
Printing, publishing, and allied ind
do
Chemicals and allied products
.-do
Petroleum refining and related ind
do
Petroleum refining
do
Rubber and misc. plastic products
do
L/eather and leather products
-- do
Nonmanufacturing establishments : !
Mining 9
Metal mining
Coalmining
Crude petroleum and natural gas
Contract construction _
General building contractors
Heavy construction. __
Special trade contractors
do
do
do
_ do. .,
do
do
do
do
Transportation and public utilities:
Local and suburban transportation
do
Motor freight transportation and storage .do
Telephone communication
do
Electric, gas and sanitary services
do
Wholesale and retail trade
Federal Reserve Bank of St. Louis
1.19
1.28
86. 80
86.18 ' 87. 20
93. 66 'r 91. 46 ' 93. 18
68. 04 ' 71. 34
73.28
68.21 ' 68. 21 ' 67. 54
60.76 ' 62. 16 '61.69
85.89
92.43
68.03
68.45
59.98
"103.82 ' 104. 49
108. 29 '109.91
'110.12 110.81
'1 6.35 '130. 90
101.02 '102.42
' 65. 53 r 64. 53
103. 52
107. 82
110.15
126.99
100. 53
63. 15
2.47
1.73
1.20
1.19
1.19
1.20
1.19
1.19
1.19
1.16
1.15
MS
1.28
1.29
1.28
1.28
1.30
1.30
1.29
1. 29
1.30
1.30
r
NO PE FO-]R HEL P-WAN'J?ED A DVER1 ISING INDEX P. s-16. Newf series;
from National Indnstr al Conftvence B oard ana B. K. Davis & ,Bro.
A ivertising Service.
The in dex is ba sed on tlle numb er of help>-wanted ads pub lishecl in one lead ing news paper in
each o f 33 citie s located through out the c ountry, represen ing the 1 arger me tropolita n areas.
SURVEY OF CURRENT BUSINESS
S-16
1960
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1961
Monthly
average
November 1002
1961
Sept.
Oct.
1962
Nov.
Jan.
Dec.
Feb.
Mar.
May
June
July
Aug.
Sept.
Oct.
2.901
4. 283
1 07
2. 688
2 25
2.933
4.316
2.941
4.321
2.957
4.356
1 06
2.981
4 395
2.981
4 408
2. 987
4.417
2 665
2 719
Apr.
EMPLOYMENT AND POPULATION—Continued
HOURS AND EARNINGS— Continued
Miscellaneous wages:
Construction wages (ENR):
Common labor .
- __$perhr „
Skilled labor
do
Farm without board or rm 1st of mo
do
Railroad wages (average class I)
do
Road-building com labor (otrly )
do
LABOR CONDITIONS
Help- wanted advertising, seas, adj.©
1957 =100- _
Labor turnover in manufacturing estab.: t
Accession rate total mo rate per 100 employees
Seasonally adjusted*
do
New hires
do
Separation rate, total
_ do
Seasonally adjusted*
do
Quit
do
Lavoff
- do.
Industrial disputes (strikes and lockouts) :
Beginning in month:
Work stoppages
number
Workers involved
thous__
In effect during month:
Work stoppages
number
Workers involved
thous
Man-days idle during month
do
EMPLOYMENT SERVICE AND UNEMPLOYMENT INSURANCE
Nonfarm placements
thous
Unemployment insurance programs:
Insured unemployment, all programs
do
State programs:
Initial claims
.. .
do
Insured unemployment, weekly avg___do
Percent of covered employment :cf
Unadjusted
2.699
4.031
1
.97
2.616
1
2 09
2. 827
4.1 190
99
2.675
1
2 14
2.862
4.237
94.2
85.9
3.8
4.1
2.2
4.3
2.2
4.0
1.3
2.4
2.871
4.245
93
2.674
2 25
2.877
4.253
2.877
4 253
2.681
2 700
84.8
95.9
99. 1
96.9
102.3
105. 9
106.3
106.1
106. 0
98.5
97.9
97.0
4.3
4.4
2.7
4.1
3.6
1.4
2.0
3.3
4 0
1.9
4.0
3.9
1.1
2.2
2.6
38
1.4
4.0
4. 1
.9
2.6
4. 1
4 4
2.2
3.9
39
1. 1
2.1
3.5
4. 1
2.0
3.4
3. 9
1.1
1.7
3.7
4 3
2.2
3.6
1.2
2.2
4.7
3.7
3.0
5. 1
4.1
2.3
2.0
1 2
1.6
4.0
4 4
2.4
3.6
3.7
1.3
1.6
4.3
4 3
2.8
3.8
4.1
1.5
1.6
5.0
3 9
3.4
3.8
4.3
1.5
1.6
4 5
4 1
2 9
4.4
4 6
1 4
2.2
51
4 0
32
5.2
4 8
2 1
2.3
278
110
281
121
315
314
324
226
257
86
142
37
265
160
225
67
260
98
320
125
440
195
410
155
350
90
335
120
350
95
1,600
1,360
573
372
2,580
568
275
2,480
501
160
1,500
366
86
855
400
185
1,040
330
100
808
350
136
1, 180
460
155
1,240
625
240
2,650
650
300
2,880
575
189
2,040
570
186
1,950
580
170
1 590
485
2,067
1,434
1,906
Beneficiaries weekly average
thous
Benefits paid
- mil. $
Federal employees, insured unemployment
thous _.
Veterans' program (UCX):
Initial claims
do
Insured unemployment, weekly avg._.do
Beneficiaries, weekly average
do
Benefits paid...
.
mil. $._
Railroad program:
Applications
thous. _
Insured unemployment, weekly avg do_. _
Benefits paid
mil. $
2 692
492
2
r
607
596
511
l,7i5
2 1, 651
21,816
1, 516
2, 290
1.081
1, 558
1.219
1, 502
1,406
1, 662
2, 481
2
2.878
4 257
1 11
2 678
2 15
448
2
2, 174
1,658
2,017
2, 659
1,974
2,486
2.897
4.283
2.729
2.678
0
425
465
2
2.889
4.273
2
2, 579
1,286
2, 415
0
511
2
2, 374
1 . 171
2,218
577
2
1, 968
1,147
1,831
95
2 33
605
656
2
1,686
1.133
1,570
2
1,577
1,083
1.469
2
580
642
1,666
2 1, 598
1.395
1,543
1,197
1, 469
93.0
M
p3
P2
v5
P4
7
7
9
0
1
P9 3
p2 0
652
2
1, 473
956
1, 331 p 1 , 385
4.8
5.6
3.7
5 1
1, 283
180.9
5.0
6.2
6.0
5.5
4.5
3.9
3.6
3.8
3.6
3.3
2,004
285.2
3.8
51
1,374
185. 0
4.1
1, 640
227. 2
1 334
190.9
1 577
218. 5
2 055
314.9
2 127
287.2
2 073
310.2
1 688
239.6
1 389
215.0
1 311
188.9
1 9fi4
187 0
1 9^7
197.4
1 174
160.6
33
33
28
28
29
31
36
36
34
29
26
24
26
26
25
29
54
52
7.0
28
67
65
9.0
25
52
53
6.9
24
47
46
6.3
22
47
44
6.1
20
49
46
6.0
24
52
51
7.4
21
49
49
6.1
26
49
47
6.5
25
45
45
6.0
22
40
39
5.7
25
40
39
5.4
30
46
40
5.7
39
52
46
6.9
27
52
50
6.5
r 426
'23
91
16.8
19
77
13.6
14
74
13.8
15
77
13.8
13
77
13.4
16
86
16.2
7
80
13.7
5
74
14.8
4
64
11.8
4
52
9.1
7
44
7 8
65
52
7.3
2,498
5,713
1,876
3,837
2,392
5,640
1,883
3,757
2,345
5,917
1,869
4,048
2,342
5,864
1,878
3,986
2,306
6,169
2,002
4,167
2,277
6,575
2,119
4,456
2,281
6, 573
2,228
4, 345
72
13.1
"3.4
FINANCE
BANKING
Open market paper outstanding, end of mo.:
3
Bankers' acceptances.
_ >
mil. $__ 2, 027 33 2, 683
4, 686
3 4, 497
Commercial and finance co. paper, totalt...do
3
1, 358 31,711
Placed through dealersj
do
s 3, 139 32,975
Placed directly (finance paper) t
do
Agricultural loans and discounts outstanding of
agencies supervised by the Farm Credit Adm.: 3
3
5, 277
Total, end of mo .
_ _ __
mil. $.. 4, 795
Farm mortgage loans:
3
3
2,3 828
2, 564
Federal land banks
do
697
3649
Loans to cooperatives
- -- -do _
3
1, 582 3 1, 752
Other loans and discounts
do
Bank debits:
Unadjusted:
259. 3
Total (344 centers)...
bil. $.. 236. 6
106. 6
91.9
New York City
do
48.1
51.9
6 other leading centerslf
.
do
Seasonally adjusted:*
Tot°J (344 centers)
-- -do
New York City
.
do-.
6 other leading centers^
do
337 other centers
-do Federal Reserve banks, condition, end of mo.:
Assets total 9
mil $
Reserve bank credit outstanding, total 9 -do
Discounts and advances.-do
U.S. Government securities
do
Gold certificate reserves
do__
Liabilities, total 9
Deposits, total 9 Member-bank reserve balances
Federal Reserve notes in circulation
do
do
do
do
2,422
4,875
1,730
3,145
2,491
5,119
1.818
3,301
2, 555
5,349
1, 868
3,481
2,683
4, 686
1,711
2,975
2,621
5,556
1,762
3,794
2,559
5,520
1,762
3,758
5,352
5,313
5,252
5,277
5,320
5,411
5,502
5,594
5,678
5,770
5,841
5,833
5 814
2,784
645
1, 922
2,800
679
1,834
2,812
2,848
716
1,757
2,868
730
1,812
2,899
728
1,875
2,922
719
1,953
2,948
694
2,037
2,968
692
2,109
2 986
1,745
2,828
697
1,752
2,150
3 003
680
2,150
3 021
690
2,103
246. 6
100. 3
49.0
274, 7
113.7
54.3
272.6
112. 5
54.2
286. 6
120. 3
57.5
294.6
118. 1
61.5
239.5
94.3
49.0
293.2
124.7
59.7
281.5
117.2
58.0
295.5
122. 1
59.8
291.8
121.9
59.4
279.7 r 281. 1
111 4
110 8
57.5
57.5
263. 3
109 7
53 4
261.8
107. 8
59 0
102. 0
979 4
113.6
54 0
104.7
273.8
115. 2
54 4
104.2
273. 7
114.0
55 0
104.8
277. 8
110.3
58 2
109.3
263.0
103.3
54 4
105.4
283.5
118.1
57 5
107.9
288.5
118.1
59 1
111.3
287.1
119. 1
57 6
110.3
282.4
115. 7
57 9
108.8
285 7
114.4
59 0
112.3
54, 329
51, 696
52, 087
52, 933
54, 329
52,311
52, 547
51, 932
52 739
52. 654
53 396
52 908
59 870
53 596
53 91'^
331,362
3
130
328,881
316,615
29, 213
28
27, 799
17,099
29. 548
59
28, 268
17,028
30, 656
39
29, 210
16, 710
31, 362
130
28, 881
16, 615
29,612
129
28, 532
16, 542
29, 928
139
28, 360
16, 530
30, 224
115
29,061
16, 336
30,641
120
29,182
16, 222
30, 705
131
29, 622
16, 158
31,261
76
29, 663
16,158
31,040
73
29, 786
1 5, 871
31,618
101
30, 358
15 817
31, 690
48
29, 825
15 796
31,625
219
30, 201
1 5 69°
352,984 354,329
51, 696
52, 087
52, 933
54, 329
52,311
52, 547
51, 932
52, 739
52. 654
53, 396
52,908
52, 879
53, 596
53, 912
3
18,038
17,105
28, 100
18, 194
16,888
28, 229
18, 136
17, 200
28, 814
18, 451
17, 387
29, 305
17. 749
16,872
28, 536
17, 850
16,808
28, 483
17, 952
16,972
28, 474
18,207
17,035
28, 537
17, 739
16, 614
28, 744
18 445
17.206
29, 021
17 878
16. 885
29, 197
18 067
17. 110
29, 351
18 268
17. 321
29 378
17 8° 5
16,821
29, 488
3
3
52, 984
29,359
333
3
27,384
3
17, 479
3
18, 336 318,451
317,081 317,387
3
28,450 329,305
695
Ratio of gold certificate reserves to deposit and
3
36.7
35. 6
37.1
FR note liabilities combined
percent.. 37.4 3 34. 8
r
p
!
Revised.
Preliminary.
Quarterly
average.
2
Excludes persons under Temporary Extended Compensation program and under
extended duration provisions (thous.): 1961—Sept., 403 and 3, respectively; Oct., 365; 2; Nov.,
355; 1; Dec., 357; 1; 1962—Jan., 354; 2; Feb., 333; 2; Mar., 322; 6; Apr.,4 230; 18; May, 121; 33;
June, 53; 37; July, 2; 32; Aug., 0; 30; Sept., 0; 24.
3 End of year.
Revised Mar. 1960,
6,000.
© See note, bottom p. S-15.
f See corresponding note, bottom p. S-13.
34.8
704
r
283 9
115 8
57 4
r HO 7
286
120
58
107
6
9
1
6
35.7
34.7
34.8
35.7
35.2
34.0
33.7
33.4
33.2
33. 2
*New series. Data prior to 1961 for labor turnover appear in BLS Bulletin No. 1312;
data prior to 1961 for bank debits will be shown later.
cf Insured unemployment as % of average covered employment in a 12-month period.
{Monthly revisions prior to May 1961 (Aug. 1959-July 1960 for placed through dealers)
are available upon request.
^Includes Boston, Philadelphia, Chicago, Detroit, Sail Francisco, and Los Angeles.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
November 1962
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1962
1961
1961
End of year
S-17
Oct.
Sept.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
FINANCE—Continued
BANKING— Continued
All member banks of Federal Reserve System,
averages of daily figures:
Excess reserves
mil. $__
Borrowings from Federal Reserve banks
do
Free reserves -_
__
do
Weekly reporting member banks of Fed. Res. System,
condition, Wed. nearest end of yr. or mo.:f
Deposits:
Demand ad justed cT
-- .mil. $
Demand, total 9
do
Individuals, partnerships, and corp
do
States and political subdivisions
do
U.S. Government
_ . _
do Domostic commercial banks
do
Time, total 9
_
do
Individuals, partnerships, arid corp.:
Savings
do
Other time
do
Loans (adjusted), total cf
--do .
Commercial and industrial _
do
For purchasing or carrying securities
do
To nonbank financial institutions
do
Real estate loans _ __
--- do
Other loans
do
Investments, total
do
U.S. Government obligations, total
do
Notes and bonds
-_
do
Other securities
do
Commercial bank credit (last Wed. of mo., except
for June 30 and Dec. 31 call dates) , seas, adjusted:*
Total loans and investmentsO
bil $
Loans O
do
U.S. Government securities. _. ._
do__
Other securities
do
1756
187
i 669
1568
i 149
1419
584
37
547
507
65
442
622
105
517
65, 644
97, 958
70,118
~~4~ 747~ 5,002
4,033
3,979
13, 415
35, 386 41, 603
62, 166
90, 354
64, 480
4, 693
5,533
11, 022
41,007
63, 423
92, 658
66, 407
5,027
4,071
12, 008
41, 209
30 225 29 244
5, 945
6 512
74, 285 70. 989
32, 797 31,805
4, 066
4,705
5,487
6, 159
13, 403 13, 136
21, 194 19, 699
46. 069 46,114
33, 960 34, 414
26. 609 26, 149
12 109 11 700
93, 215
71, 009
32, 156
3, 945
12, 824
40, 754
30, 547
24, 944
10 207
568
149
419
616
70
546
502
68
434
470
91
379
510
69
441
497
63
434
471
100
371
532
89
443
63. 906
91, 216
66, 183
4, 894
3, 414
11,820
41, 188
65, 644 64, 362 63, 104
97, 958 91.853 91,871
70, 1 18 67, 140 66, 501
5,234
5, 002
5 206
3, 316
3, 220
4,033
13,415 11,175 11,167
41, 603 42,863 43, 906
62, 229
89, 015
63, 936
4,848
4,277
10, 844
45, 055
63,071
93, 061
65, 458
5,771
4.744
11,297
45, 670
61,621
89, 297
63, 705
5,404
5, 028
10, 357
46 484
61,472
91,391
64, 022
4,829
6, 594
10, 672
47, 077
29. 621
6,406
71, 843
32, 085
4, 535
5, 358
13, 245
19, 622
45, 624
34, 087
26, 833
11,537
29 771
6 190
71, 670
32, 109
4 004
5, 375
13, 347
19 706
45, 649
33, 932
26, 888
11 717
30 225
5 945
74,285
32, 797
4, 705
6. 159
13. 403
21,194
46, 069
33, 960
26, 609
12 109
30 640
6 553
71,878
31,992
3 804
5,516
13,420
20 696
46, 653
34. 475
26, 820
12,178
31,073
7,067
72, 886
32, 204
4.478
5, 575
13,497
20, 573
46, 042
33, 510
25, 645
12,532
31,621
7,627
74, 030
33, 014
4, 519
5, 624
13, 620
20, 783
45, 508
32, 214
25, 226
13, 294
31 757
7,879
75. 930
32, 937
5. 449
5, 760
13. 874
21.422
45, 979
32, 069
25, 825
13 910
32 094
8 344
74, 647
32 854
4 109
5 636
14,068
21 390
46, 013
32, 256
26 173
13 757
207. 1
118. 6
65.3
23 2
208 3
119 4
65.3
23 6
209 6
121 1
64.7
23 8
210 7
120.8
65.7
24 2
213 3
122.6
66. 1
24 6
215.2
123.8
66.1
25 3
215 0
124 5
64.6
25 9
216
124
65
26
'563
127
436
'458
80
r
378
484
65
419
62, 451
91, 527
65, 116
5, 129
4, 369
11,301
47, 242
60, 638 r 60,744
87, 901 r 92,845
62, 583 ' 64,085
4 622 r 4, 631
4, 917 r 7, 022
10, 920 r 12 121
47, 729 r 48 225
62 93°
94 42?
66, 907
5 017
4, 283
12 035
48 658
32 514
8 536
75. 902
33, 354
3 958
6, 039
14.268
21,543
46, 904
32,418
26, 206
14 486
33 114
8 251
75, 732
33, 146
3, 674
6, 259
14.525
21, 754
46, 582
31, 638
25, 980
14 944
33 404 r 33 921 34 242
8 566
8 428
8 698
75, 975 rr 77,726 78 707
33 442 r 34 081 34 ')76
3 604 r 4 1 45 4 764
6 279
6 128
6 104
14 696 r 14 940 15 193
21 894 r 21 823 21 963
46, 093 47, 171 46, 768
31,075 31, 995 31, 432
25 274 25 548 25 317
15 018 15 176 15 336
220 3
126. 6
66.6
27 ]
217 8
126 1
64.1
27 6
r
194.5
114.2
59.6
20 7
209 6
121.1
64.7
23 8
206.7
117.4
66.1
23 2
25.16
4. 97
5. 15
5. 45
2
2
2
24.97
4. 76
4.98
5. 28
4 99
4.75
5 05
5.26
3 00
5. 05
6. 00
3 00
3
4.00
3 5. 64
3 00
3.98
5.60
3.00
3.98
5.60
3 00
4.00
5.60
3 00
3 98
5 60
3.00
3.94
5.60
3 00
3.99
5.60
3.00
3.99
5.60
3 00
4 02
5.60
3 00
4 01
5 60
3 00
4.02
5.60
3 00
4 05
5.60
3 00
4 07
5 60
3 00
4 10
5 60
3 00
33.51
33.85
33.54
34.99
32.81
* 2. 97
3 2. 68
34.50
2.84
3.05
2.68
4. 50
2.75
3.00
2.79
4.50
2.75
2.98
2.74
4.50
2.87
3.19
2.93
4.50
3.00
3.26
3.05
4.50
3.00
3.22
3.00
4. 50
3.00
3.25
3.02
4.50
3.00
3.20
3.09
4.50
2.91
3.16
2.95
4.50
2.90
3.25
3.02
4.50
3.07
3.36
3.20
4.50
3.11
3.30
3.12
4.50
3.09
3.34
3.13
4.50
3.03
3.27
3.04
4. .50
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent.. 3 2. 928
33.99
3-5 year issues
do
3 2, 378
3
3 60
2.304
3 77
2.350
3.64
2.458
3 68
2.617
3 82
2.746
3.84
2. 752
3 77
2.719
3 55
2. 735
3 48
2.694
3 53
2.719
3 51
2.945
3 71
2.837
3 r7
2.792
3 56
2. 751
3 46
22, 357
651
22, 048
673
21, 982
666
22, 066
658
22, 357
651
22,350
642
22, 420
629
22, 701
620
22, 570
600
22, 659
591
22, 931
581
22. 972
573
23,087
ccc
23, 376
558
23, 440
559
Money and interest rates:§
Bank rates on business loans:
In 19 cities
New York City
- 7 other northern and eastern cities
11 southern and western cities -
percent
do
do
do
Discount rate, end of year or month (NF.Y.F.R.
Bank)
percent
Federal intermediate credit bank loans
do
Federal land bank loans _. ..
. do _
Open market rates, New York City:
Bankers' acceptances (prime, 90 days) _ . .do
Commercial paper (prime. 4-6 months),. do
Finance Co. paper placed directly, 3-6 mo__do
Stock Exchange call loans, going rate
do
2
2
2
3
3
4
4
4
5
4
8
5
1
4.98
4.78
4.97
5.28
96
77
96
24
2°0 3
127 3
65 0
oo o
222
129
64
28
4
4
5
5
o 01
4.79
5 00
5.33
0
7
3
0
99
77
00
32
Savings deposits, balance to credit of depositors:
N. Y. State savings banks, end of yr. or mo~m.il. $._ 21, 400
770
U.S. postal savings 1 do
CONSUMER CREDITJ
(Short- and Intermediate- term)
Total outstanding, end of year or month
mil. $__ 55, 757
57, 139
54, 757
54, 902
55, 451
57, 139
56, 278
55, 592
55, 680
56, 650
57 593
58, 277
58, 521
59 146
59 236
42, 588
43, 163
42, 039
42, 181
42, 419
43 163
42, 846
42, 632
42, 704
43 285
43 893
44 559
44 9g7
45 514
45 621
17, 444 16, 960
11,525 11, 771
3,139 3,177
10, 480 11,255
16, 902
11,006
3,180
10, 951
16, 913
11,085
3,183
11,000
16, 960
11 215
3 192
11 052
16 960
11 771
3 177
11 255
16, 878
11 605
3 131
11 232
16, 900
11 380
3 099
11 253
17
11
3
11
039
256
084
325
17 343
11 333
3 094
11 515
17
11
3
11
18
11
3
11
18
11
3
11
291
5709
18
994
18 530
11 648
3' 216
n
19 190
I 9' 990
36, 974
16, 672
11,228
3,923
3,670
1,481
37, 580
16,843
11,052
4 352
3,798
1,535
37, 188
16, 909
10, 882
4 233
3,650
1 514
37, 191
16, 877
10. 866
4,269
3.671
1,508
37. 240
16 836
10 878
4 317
3 684
1 525
37, 580
16 843
11 052
4 352
3 798
1 535
37,551
16,759
11 190
4 306
3 782
1 514
37, 469
16, 726
11 133
4 311
3 783
1 516
37, 509
16 779
11 049
4 355
3 795
1 531
37, 965
17 042
11 121
4 449
3 826
1 5^7
38 453
17 316
11 199
4 C4Q
3 836
1 559
39 894
18 005
11 543
39 954
18 020
ll' 533
do
do
do
do
do
5, 615
2,414
1,107
359
1,735
5 583
2,421
1,080
4 850
1,979
1,009
4 990
2,097
1,014
5 179
2? 213
1,034
5 583
2 421
1, 080
5 295
2 212
1,057
5 163
2 167
1,039
5 195
2 227
1,018
5 320
2 339
1,011
1 723
1 502
1 520
1 572
1 723
1 667
1 599
1 594
1 619
5 440
2 430
1 Oil
345
39 426
17 815
11 435
4 705
3 907
1 564
K, 541
5 549
9 590
9 517
1,008
1,009
336
327
1 683
1 688
Installment credit, total
_
Automobile paper
.
Other consumer goods paper
Repair and modernization loans
Personal loans
do
do
do
do
do
By type of holder:
Financial institutions, total
do
Commercial banks
do.
Sales finance, companies
__
do
Credit unions.
do
Consumer finance companies. __ __do._
Other
_
. do
Retail outlets, total
Department stores
Furniture stores
Automobile dealers
Other.
_ _
._
359
360
359
360
359
359
358
356
351
683
423
131
656
033
555
156
815
39,010
17 610
11 395
4 640
3' 876
1 559
4
ono
3 948
1 ' WO
r
I Q AKJ
fiQS
3 233
3
Of 5Q
1
^Cf)
C9fl
2 581
1 019
317
9 R4.7
1 70*}
1 018
308
do
13, 169
13.976
12,718
12, 721
13 032
13 976
13 432
12 960
12 976
13 365
13 700
13 718
13 554
13 632
13 615
do
_do
..do
4,507
3,884
623
4, 955
4 224
4,778
4 125
653
4,880
4 158
'722
4, 955
4 224
4, 906
4 203
731
703
4,931
4 220
'711
5, 056
4 279
777
5, 111
4 390
'721
5 238
4 421
817
5 227
4 439
788
5 203
4 430
773
5 274
4 425
849
5 288
731
4,832
4 129
703
do
do
do
do
5,329
941
3,952
436
5,438
948
4,027
463
4,423
623
3,312
488
4,517
4,684
717
3 498
469
5,438
948
4 027
463
4,892
804
3 614
474
4,294
635
3 188
471
4, 191
4,451
3 367
4, 739
61°
3 635
499
4, 607
569
3 518
4,638
570
3 521
547
4, 623
3 139
4,683
636
3 571
476
do
3,333
3,583
3,463
3,426
3,468
2
Revised.
1 Average for Dec.
Quarterly average.
3 Monthly average.
t Revised to reflect new coverage and revised classification of deposits (for details, see the
June and July 1961 issues of Federal Reserve Bulletin).
cfFor demand deposits, the term "adjusted" denotes demand deposits other than domestic commercial interbank and U.S. Government, less cash items in process of collection;
for loans, exclusive of loans to domestic commercial banks and after deduction of valuation
Digitized
FRASER
reserves for
(individual
loan items are shown gross; i.e., before deduction of valuation reserves).
3, 583
Non installment credit, total
Single-payment loans, total.
Commercial banks _
. .
Other financial institutions
Charge accounts, total
Department stores
Other retail outlets.
Credit cards
Service credit
r
656
3,382
479
594
458
620
464
iy;>0
854
fil A
3 467
549
3, 634
3,735
3,729
3,803
3, 752
3.779
3.720
3,744
3.704
9 Includes data not shown separately.
* New series; description and data prior to
Sept. 1961 appear in the July 1962 Federal Reserve Bulletin.
O Adjusted to exclude interbank loans.
§ For bond yields, see p. S-20.
^Data are as of end of consecutive 4- week periods ending in month indicated, except
June figure which is as of June 30 (end of fiscal year) .
j Revised to incorporate new benchmark data; revisions back to July 1955 appear in the Dec. 1961 Federal Reserve Bulletin.
SUKVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1961
1960 1 1961
Monthly
average
November llKV
Sept.
Oct.
1962
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
FINANCE—Continued
CONSUMER CREDIT}— Continued
Installment credit extended and repaid:
Unadjusted:
Extended total
Automobile paper
Other consumer goods paper
All other
Repaid total
Automobile paper
Other consumer goods paper
All other
Adjusted:
Extended total
Automobile paper
mil. $
_ do _
do
do
do
do _ do
- do . _
All other
Repaid total
Automobile paper
Other consumer goods paper
AVI other
4,109
1,451
1,206
1, 453
3,813
1,348
1,131
1,334
3,999
1,315
1,207
1,477
3,951
1,355
1,186
1,410
do
do
do
do
do
do
do
3,789
1,168
1,200
1,421
3, 839
1,327
1,159
1,353
4,244
1,452
1,300
1,492
4,102
1,441
1,221
1,440
4, 275
1,402
1,327
1, 546
4,037
1,355
1,197
1,485
4,754
1,289
1, 750
1,715
4,010
1,289
1,194
1,527
3,756
1,320
1,039
1,397
4,073
1,402
1,205
1,466
3,566
1,284
972
1,310
3,780
1,262
1,197
1,321
4,301
1,574
1,161
1.566
4,229
1,435
1,285
1,509
4, 658
1,688
1,287
1.683
4,077
1,384
1,210
1,483
4,858
1,787
1,346
1,725
4,250
1,447
1,256
1,547
4,830
,755
,358
,717
,164
,405
,226
,533
4,641
1,709
1,249
1,683
4,233
1,451
1,234
1,548
4,792
1,686
1.331
1,775
4.245
1,447
1,253
1,545
4,040
1, 256
1,246
1,538
3,933
1,319
1,196
1,418
3,942
1,271
1,199
1,472
3,956
1,350
1,190
1,416
4,209
1,405
1,254
1,550
4,028
1,372
1, 210
1,446
4,317
1,511
1,249
1, 557
4,017
1,359
1,188
1,470
4,315
1,471
1,316
1,528
4,051
1,361
1,233
1,457
4,194
1,474
1,185
1,535
3,979
1,380
1,147
1,452
4,302
1,496
1,281
1,525
4,066
1,369
1, 253
1,444
4,363
1,526
1,257
1,580
4,094
1,393
1,226
1,475
4,625
1,606
1,382
1,637
4,108
1,403
1,217
1,488
4,593
1,604
1,312
1,677
4,180
1,418
1,234
1.528
,477
,536
,308
,633
4,159
1,402
1,230
1,527
4,580
1,601
1 332
1,647
4,239
1,430
1,271
1,538
4.580
1,578
1 325
1,677
4,194
1,417
1, 257
1,520
4,397
1,429
1 30?
1,666
4, 232
1,403
1, 276
1,553
8,554
9,218
-663
8,868
5, 968
8,576
8,726
292 -2, 758
9,567
8, 967
600
10, 685
7,060
8,263
9,074
2,422 -2,014
10, 850
9,160
1,690
13,042
4,567
9,503
9, 314
3,539 -4, 747
10, 328
10, 577
-249
11,140
8,639
2, 501
FEDERAL GOVERNMENT FINANCE
Net cash transactions with the public :cf*
Receipts from
-_
Payments to
Excess of receipts or payments ( — )
Seasonally adjusted quarterly totals:
Receipts
Payments
mil. $__
do
do
8,191
7,891
299
8,161
8,728
-567
3,872
10, 236
9, 385
8,266
1,970 -5, 512
25, 300
26, 900
-1,600
24, 900
26, 200
-1,400
do
do
Budget receipts and expenditures:
3,811
10, 285
Receipts, total
.. do __. 8, 333 8,333
6,513
3,141
8,945
6,626
Receipts netlf
do
88
105
90
91
Customs
-- do
3,933
1,614
4,679
3.838
Individual Income taxes
do
1, 766
408
3, 251
1,891
Corporation income taxes
do
1,039
241
884
1,008
Employment taxes
do
1,508
1,443
1,380
1,506
Other internal revenue and receipts
do
7,039
7,796
6,771
6.464
Expenditures total ^
do
739
713
773
727
Interest on public debt
do
445
438
418
429
Veterans' services and benefits
do
4,067
3,852
National defense
__ do_ __ 3,808 4,013
1,895
2, 587
1,777
1,510
All other expenditures
do
Public debt and guaranteed obligations:
Gross debt (direct), end of mo., total
bll. $.. 2290.22 2 296. 17 293. 75 295. 66
2
2
286.82 2 292. 69
2
242. 47 2249. 17
2
10. 89
Interest bearing, total
do
Public issues __ __
do
10. 64
Held by U S Govt investment accts do
2 44. 35 2 243. 52
Special issues
do
3.48
'3.40
Nbninterest bearing
do
Guaranteed obligations not owned by U.S. Treas3
2.33
.16
ury, end of month
bil $
U.S. savings bonds:
2 47. 53 2 47. 79
Amount outstanding, end of month
do
.38
.36
Sales series E and H.
do
.47
.56
Redemptions
do. __
LIFE INSURANCE
290. 77
245. 77
10.81
45.01
2.98
292. 71
248. 82
11.01
43.89
2.95
24. 600
27,800
-3,200
28, 600
28, 800
300
26, 800
26, 800
0
8,007
6,424
106
4,891
377
1,266
1,368
7, 485
740
437
4, 253
2,055
8,980
7, 967
88
3,363
3,322
505
1,701
7, 160
781
471
4,258
1,836
5,959
5, 357
100
3,570
466
353
1,470
7,395
803
471
4,316
1,890
9,773
6,729
85
5,910
400
2,080
1,298
6,858
755
449
4,094
1,575
12, 354
9,104
104
3,728
5,879
1,188
1,456
7,749
733
1449
i 4, 597
1
1, 972
8,153
5,754
99
5, 348
445
745
1,516
7,289
777
438
4,315
1,766
10, 658
7,024
104
6,243
469
2,266
1. 576
7,229
775
433
4,785
1,241
pl3,315
pll, 566
plOO
v 4, 980
p 5, 377
p 1,071
P 1, 787
^7,983
P842
P400
p 4,970
p 1,983
4,540
3,566
103
1,497
525
450
1,965
7,252
828
442
3,954
2,107
9, 445
7,089
107
5,467
431
1,786
1,654
8,541
794
492
r
4,
448
r
2, 852
11,414
10, 053
102
5,072
3,533
962
1,745
7,327
807
401
4,031
2.088
297. 01
296. 17
296. 51
296. 98
296. 09
296. 95
299. 17
298.20
297. 88
301. 84
299. 50
302. 07
293. 60
249. 39
11.08
44.22
3.41
292. 69
249. 17
10.89
43.52
3.48
293. 11
250. 81
11.32
42.30
3.40
293. 55
250. 80
11.27
42.75
3.43
292. 48
249. 68
11.50
42.81
3.60
293. 36
251.24
11.47
42.12
3.59
295. 52
251. 23
11.46
44.29
3.66
294. 44
249. 50
11.36
44.94
3.76
293. 92
250. 12
11.58
43.80
3.96
297.90
252. 48
11.47
45.43
3.94
295. 57
251. 01
298. 14
254. 26
44.56
3.93
43.89
3.92
.27
.30
.31
.33
.35
.37
.40
.41
.43
.44
.45
.47
.49
.49
47.89
.34
.42
47.95
.37
.41
48.03
.36
.38
47.79
.34
.71
47.78
.48
.62
47.81
.36
.44
47.81
.37
.48
47.81
.35
.46
47.81
.35
.46
47.82
.36
.48
47.86
.36
.45
47.90
.36
.43
47.91
.30
.40
47.87
.m
.51
Institute of Life Insurance:
Assets, total, all U.S. life insurance companies 9
2
2
bil $ 119.58 126. 82 124. 69 125. 36 126.01 126. 82 127. 31 127. 73 128. 11 128. 57 128 93 129. 14 130 00 130 60
Bonds (book value), domestic and foreign,
2
60.88
61.08
61.06
60.62
61.66
61.85
62.73
58. 56 2 260. 93
62.06
62.38
63.12
63.37
62.63
total
bil $
6.44
6.13
6.40
6.14
6.31
26.43
6.43
6.34
6.26
6.23
6.35
6.41
6.32
6.38
U S Government
do
3.84
23.89
3.82
3.90
3.88
3.96
4.06
23.59 2
3.96
4.08
4.06
4.06
4.05
4.09
State county municipal (U S )
do
2
16.16
16.16
16.18
16.22
15. 95 216. 22
16.23
16.25
16.37
16.29
16.30
16.40
16.32
16.38
Public utility ( U S )
do
3.67
3.67
3.66
23.64
3.61
3. 58
3.67
3.65
3.64
3.64
3.60
3.63
3.60
3.62
Railroad ( U S )
do
26.66
26.82
26.93
225.21 226.91
26.43
27.23
27.35
27.92
27.48 27.67
28.09
27.82
28. 15
Industrial and miscellaneous (U S )
do
Stocks (book value), domestic and foreign, total
26.26
4.57
4.52
4.63
4.82
4.82
4.95
24.98
4.86
4.89
4.93
4.99
5.02
4.97
bil $
2
2.09
2.10
2.12
2.08
1.79 22.03
2.11
2.12
2.12
2.17
2.13
2.18
2.19
2.14
Preferred ( U S )
do
2.41
2.46
2.62
23.12 2 24.14
2.64
2.37
2.67
2.70
2.69
2.73
2.71
2.74
2.74
Common (U.S.) .
__ _ _
do
2
43.63
43.87
43. 43
44.25
44.38
44.49
45.14
41.77 2 44. 20
44.64
45.34
44.75
45.58
44.95
Mortgage loans, total
do
2
41. 03
40.49
40. 30
40.71
41.08
41. 21
41.30
38. 79
41.86
41.42
41.52
42.03
42.25
Nonfarm
do
41.68
3.97
23.76 24.01
3.99
3.96
4.01
3.99
4.04
3.97
3.99
4.01
4.10
Real estate
do
4.02
4.11
2
5.67
5.70
5.74
5.23 25.73
5.64
5.79
5.77
5.98
5.83
6.04
5.88
Policy loans and premium notes
_ do
5.93
6.08
1.34
21.39
1
38
21.33
1.39
1.31
1.28
1.28
1.20
1.20
1.26
1.21
1.24
Cash
do
1.22
2
5.29
5.36
3.94 24.29
5.22
5.55
5.43
5.46
5.49
5.10
5.41
5.15
5.22
5.21
Other assets
.
do
Payments to policyholders and beneficiaries in
711.3
734.2
723.1
676.5
673.4
967.5
808.9
704.3
749.6
830.8
714.1
733.4
U.S , total
_
mil $
739.2
777.5
286. 7
287.2
292.7
298. 4
320.7
278.8
349.1
295.6
316. 5
350.1
300. 4
311. 6
Death benefits
do
342 0
318 8
62.3
60.8
59.6
56.1
52.8
70.0
74.7
56.8
62.9
57.6
56.3
54.5
59.2
54.6
Matured endowments
do
11.6
10.9
11.1
10.3
10.4
11.3
12.5
10.9
11.1
11.6
12.1
12.0
12.5
Disability payments
.
_ . do
12.8
65.7
64.2
62.7
60.2
59.9
56.4
91.0
66.3
68.2
72.0
66.7
70.9
Annuity payments
do
67.7
61 7
151.7
149.4
140.7
136.1
132.0
163.7
140.4
156.9
152.7
141.5
142.7
149.0
Surrender values ._
do
157.2
142.9
145.1
143.5
345.4
135.0
151.6
131.1
128.9
134.3
177.8
135.4
Policy dividends
do
136.3
153.8
138.6
148.7
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance) :
Value, estimated total _ _
_
mil. $__ 6,201 6,570 5, 924 6,898 6,755 7,519 6,039 5,925 6,834 6,352 6,757 6,704 6,222 6 273 5 957
4,777
4,515
4,206
4,979
5,072
4 505
4,349
3,905
4,849
4,233
4,631
Ordinary
do
4 791
4 666
4,528
4 116
1,472
1,279
1, 145
1, 185
1,921
1,511
1,645
1,127
1,364
1,463
1,146
1,110
1 341
Group and wholesale
do
1 214
1 269
573
610
583
573
591
Industrial
do
526
489
621
565
611
575
554
625
548
572
T
Revised.
» Preliminary.
1 Data beginning Mar. 1962 reflect revised classifications;
for net receipts and total expenditures reflect exclusion of certain interfund tranr
not comparable with earlier figures. 2 End of year; assets of life insurance companies are
actions.
annual statement values.
JSee similar footnote on p. S-17.
9 Revisions for Jan. 1960-July 1961 will be shown later.
d"Other than borrowing.
*New series (compiled by U.S. Treasury Dept. and Bu. of
the Budget).
SURVEY OF CURRENT BUSINESS
November 1962
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1961
1960
Monthly
average
S-19
1962
1961
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
FINANCE—Continued
LIFE INSURANCE— Continued
Premiums collected (LIAMA):*
Total life insurance premiums
Ordinary
Group and wholesale
Industrial
mil $
do __
.do
do
994
729
145
120
931
693
133
105
1,002
739
152
112
989
734
148
107
1,135
760
148
227
1,062
790
155
118
966
718
143
106
1,087
813
166
108
992
739
146
107
1,022
770
144
107
1,009
752
150
107
1,041
771
161
109
16, 889
-5
64, 583
4,684
17, 376
4
63, 065
4,949
17,300
-43
70, 051
4,009
16, 975
-272
14, 068
11,540
16, 889
65
52, 755
10, 769
16, 815
-64
28, 224
2,021
16, 790
37
30, 897
19, 701
16, 608
142
52, 845
10, 622
16,495
-82
14, 065
2,228
16, 434
—78
31, 032
16, 290
16, 435
—60
14,000
3,340
16, 147
-310
14, 005
2,039
16, 098 ' 16, 067 ' 15,978
2
10
52 663 63 150
1,883
2 335
2101,700
66,900
3 13.000
3 4, 600
68, 500
12, 100
4,500
68, 900
12, 700
3,900
69, 200
13, 000
4,100
67, 800
12, 900
3,400
70, 600
12, 600
3,500
67, 400
11,400
3,200
72, 900
12, 800
3,500
72, 300
12, 400
3,000
74, 000
12, 300
3,400
75,200
11, 800
3,100
76,300
11, 900
4,000
76, 600
12 000
4,600
76 100
3,154
3,786
.924
3,397
2,625
.914
2, 511
3,316
.914
6,600
3,441
.923
1,896
5,152
1.033
1,842
3,156
1.043
1, 538
9,249
1.025
979
6, 653
1.015
526
5,615
1.015
521
5,203
1.015
964
6,837
1.023
476
951
5, 398 5 827
1.035 * 1. 083
1 144
7 897
1.155
2, 597
3 3, 362
3.524
133.9
2,373
4,390
3, 737
32.7
3,054
3,420
3,523
32.8
2,643
3,590
3,816
33.5
2, 424
2, 850
4,297
33.9
2,518
3,565
3,023
32.8
2, 064
3,255
2,643
32.9
2,514
3,886
2. 690
33.0
2,270
2,194 ' 2, 670
3,473 *-3 530
3, 185
2,448
3 214 2 319
33.2
33.8
33.5
2,823
2, 984
2,184
33.9
2,397
3 623
2 127
33.9
2 880
33 9
5
143.1
29.3
113.8
80.9
5.2
144.5
29.4
115. 1
81.5
6.4
146.3
29.7
116 6
81.5
5.8
149.4
30.2
119.2
81.8
4.9
149.0
29.5
119.5
83.5
3.8
145.3
29.3
115 9
85.4
4.6
144.2
29.6
114.6
87.4
5.1
146.2
29.8
116.4
88.9
38
143 6
29 8
113 8
89 9
7 0
144.0 ' 144. 3
30.0 r 30.3
114. 0
113 9
92.2
91.1
7.1
7.2
143.8
30 3
113 5
93 0
68
145 0
30 3
114 6
93 9
72
143.5
29 2
114.3
80 5
144.2
29 3
114.9
81 3
144 9
29 4
115 5
82 0
145.7
29.6
116.1
82.5
145.9
29 7
116.3
84 1
145 5
29 7
115 8
85 8
145.7
29 9
115 8
87 5
146 1
30 0
116 0
88 7
145
30
115
89
145
30
115
90
145 91
30
114 0
92 5
145 3
30 2
115 1
38.6
72.3
37.4
26.5
40.1
75.6
38.3
27.0
39.9
75.3
38.5
26.8
39.8
73.4
38.7
26.8
39.7
70.9
40.6
27.7
38.5
68.1
38.4
27.1
41.7
78.2
40.9
27.6
42.2
78.4
41.7
28.2
41.9
78 8
41. 1
28 3
41.7
82 2
41 5
27 3
1 663 r 4 056
2 253 r i 593 r 3 974
r 555
T g4Q
1 063
124
32
58
24
46
32
1 568
r 922
T 226
632
190
255
56
123
T 190
16^)
20
953
695
136
122
1 027
762
157
108
955
714
138
103
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, U.S. (end ofyr.orrno.)_mll. $__ i 17, 767
-165
Net release from earmark |
do
137
Exports
thous. $
Imports
_ _ _ _
do __ 27,919
297,900
Production world total
do
62,400
South Africa
do
13, 400
Canada
_
_ do _
3
4, 900
United States
do
Silver:
2,149
Exports
do
4,786
Imports
__ _ __
_ __ __ -do
Price at New York
dol. perfineoz__ .914
Production:
Canada
thous. fine oz__ 2,835
3,711
Mexico
_ _
_- __ do
3, 345
United States
_
do
132.9
Currency in circulation, end of yr. or mo
bil. $
Money supply and related data (avg. of dailyfig.):*
Unadjusted for seas, variation:
Total money supply. __ ._
bil. $__ 5 140. 9
529.0
Currency outside banks
do
5111.9
Demand deposits
do
569.1
Time deposits adjusted^
do
55.3
U S. Government deposits _ _ __
do __
Adjusted for seas, variation:
Total money supply
do
Currency outside banks
do
Demand deposits
do
Time deposits adjusted^
do
Turnover of demand deposits except interbank and
U.S. Govt., annual rates, seas, adjusted:
35. 5
Total (344 centers)*. -.ratio of debits to deposits..
60.0
New York City
do
34.8
6 other centers c?
.__ .
do__ _
25.7
337 other reporting centers _
do
1
143. 2
5
29. 1
5 114. 0
578.5
54.8
38.2
70.0
36.8
26.1
7
0
7
6
41.9
78 8
40 8
28 0
6
1
4
7
145.7
30.2
115. 5
91.8
41.6
77.3
41.3
27.8
42.1
77.3
42.1
28.6
r
4 gOO
1. 206
no A
~
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade and SEC):
Net profit after taxes, all industries
._ mil. $ s 3, 800 6 3, 828
6331
6306
Food and kindred products
_. ._ do.- 670
682
Textile mill products
- _
do .Lumber and wood products (except furniture)
626
628
mil. $
6147
6146
Paper and allied products
. do
6503
6511
Chemicals and allied
products
do
6719
6772
Petroleum refining 1
do
e 136
6143
Stone, clay, and glass products.
do_ 6 123
6122
Primary nonferrous metal
— _ _
do
6201
6236
Primary iron and steel
__. __
_ do.~
Fabricated metal products (except ordnance,
6111
6101
machinerv, and transport, equip.)
mil. $
6246
6265
Machinery (except electrical)
do
6256
6256
Flee, machinery, equip., and supplies
do
Transportation equipment (except motor
e 74
656
vehicles, etc.)
_ _._
mil. $
6419
«372
Motor vehicles and parts
do
6435
6430
All other manufacturing industries
. do _.
o 2, 070
Dividends paid (cash), all industries..
.do
Electric utilities, profits after taxes (Federal Re6 448
serve)—mil. $
Transportation and communications (see pp. S-23
and S-24).
6
3,837
377
84
4,609
346
100
4,004
270
74
4 649
344
89
48
137
520
725
183
106
208
27
174
538
870
151
141
263
10
143
519
797
58
143
252
55
169
601
699
191
156
192
144
268
234
116
293
350
118
284
274
187
387
315
77
206
517
81
599
560
98
570
396
120
645
499
2, 138
2,010
2,528
2,202
2,123
6474
447
477
585
472
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds, total
By type of security:
Bonds and notes, total
Corporate
Common stock
Preferred stock
By type of issuer:
Corporate, totalO
Manufacturing
_
Extractive (mining)
Public utility
._
Railroad
_
__ __
Communication
Financial and real estate.- _ _
mil $
2,295
2,958
1,913
4,410
2,404
2,094
3,506
2,537
1,877
4 075
2,149
do
do
do
do
2,122
673
139
34
2,648
785
273
37
1,695
460
201
17
4 100
845
298
12
2,179
762
184
41
1 784
784
284
26
3 363
504
141
9
2 382
728
146
9
1 669
638
204
3 738
881
216
120
2, 015
667
120
14
846
179
20
238
18
87
210
1 096
343
22
253
15
152
190
678
268
15
113
0
77
110
1 155
308
37
318
19
26
291
987
233
4
367
24
81
183
1 094
330
42
211
5
42
315
647
225
15
116
12
75
104
884
139
13
153
17
366
126
847
329
10
197
20
21
143
1 217
463
15
383
7
90
142
801
279
37
217
12
65
96
do
do
do
do
do_. do
do
1,449
1 862 1 235 3 255
1 417
659
1,021
2, 564
338
357
602
695
699
643
789
r
2
Revised.
1 End of year.
Estimated; excludes U.S.S.R., other Eastern European
countries, China Mainland, and North Korea. Comparable data not shown in 1961 BUSINESS STATISTICS volume.
3 includes revisions not distributed by months.
* Effective Aug. 1962 for silver in commercial bar form (priced one-quarter cent higher than on former
basis).
s Average of daily figures. o Quarterly average.
' Less than $500,000.
Noncorporate, total©
U.S. Government..State and municipal
do
do
do
2 422
1 232
361
23
473
18
80
173
T
r 630
r 250
r 5
r 124
9
93
r HO
n\
1 408
472
110
51
01
(\Q
93
1 000 2 859
1 654 1 030 2 858
1 348 1 190 r 1 033 3 135
936
1.589
341
'361
372
352
1,506
2 408
363
300
358
654
866
1,123
621
559
426
877
897
760
641
*New series. Back data for premiums collected and turnover of total demand deposits
are available upon request; those for money supply, etc., are published in the Aug. 1962
Federal Reserve Bulletin (see also Oct. 1960 Bulletin for concepts and methods).
§Or
increase in earmarked gold (—).
^Time deposits at all commercial banks other than those
due to domestic commercial banks and the U.S. Govt.
cflncludes Boston, Philadelphia,
Chicago, Detroit, San Francisco, and Los Angeles.
O Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
S-20
1960
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
average
1962
1961
1961
Mommy
November 1062
Sept.
Oct.
Nov.
Dee.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
FINANCE—Continued
SECURITIES ISSUED— Continued
Securities and Exchange Commission — Continued
New corporate security issues:
Estimated net proceeds total
mil $
Proposed uses of proceeds:
New money, total
lo
Plant and equipment
do
Working capital
lo
Retirement of securities
-lo
Other purposes
lo
State and municipal issues (Bond Buyer) :
L/ong-term
..do
Short-term
do
r
r
827
1,073
658
1,129
961
1,071
632
866
823
1,185
785
1.214
907
618
730
472
258
23
75
902
628
274
75
96
612
402
210
11
36
952
64 J
311
40
138
908
671
237
13
40
930
506
424
71
70
507
326
181
39
85
792
642
150
7
67
709
458
251
16
97
1.033
753
279
72
80
621
435
186
25
139
953
713
240
82
180
' 504
'329
'175
'39
'78
'620
'382
'237
'159
' 129
441
315
126
39
138
602
334
697
376
699
351
643
244
789
532
669
336
866
186
1,123
640
621
351
877
442
897
499
760
375
641
301
559
573
' 426
'172
1
1
390
430
13,317
i1 4, 294
1
1,135
1,219
1
2, 275 13 003
420
4, 037
1. 227
2, 730
429
4,072
1,214
2,710
422
4, 180
1,213
2, 803
430
4,294
1,219
3. 003
436
4,145
1,225
2 911
421
4, 100
1.190
2, 882
426
4, 117
1,154
2,963
419
4,115
1,110
3.072
426
4.034
1,205
2, 889
437
3,637
1, 374
2.239
415
3, 592
1, 252
2.124
388
3. 796
'1.130
2. 506
380
3, 913
1,090
2.738
621
613
235
SECURITY MARKETS
Brokers' Balances (N.Y.S.E. Members Carrying
Margin Accounts)
Customers' debit balances (net)
Customers' free credit balances (net)
do
do
Bonds
Prices:
Average price of all listed bonds (N.Y.S.E.),
total§
dollars
Domestic
do
Foreign
do
Standard & Poor's Corporation:
Industrial, utility, and railroad (Al-f- issues):
Composite (21 bonds) d*— dol. per $100 bond..
Domestic municipal (15 bonds)
_ - do
U S Treasury bonds taxable 1
do
Sales:
Total, excl. U.S. Government bonds (SEC):
All registered exchanges:
M^arket value
mil $
Face value
do
New York Stock Exchange:
Market value
do
Face value
do
New York Stock Exchange, exclusive of stopped
sales face value total§
mil $
r
91.42
91.56
81.81
92.98
93.12
83. 22
92. 97
93. 12
82. 57
93.19
93 32
83. 31
92. 67
92 76
85 36
92. 26
92. 38
83. 31
92. 24
92 35
84. 26
92. 90
92. 99
85.12
93.89
93.99
85.80
94.40
94. 50
86.04
93.80
93. 91
84. 68
93.02
93. 13
84.82
92. 97
93. 08
84. 61
93. 76
93. 87
85.88
94. 16
94. 27
85. 94
94.6
103.9
86.22
95. 2
107.8
87. 55
93.9
106.6
86.09
94. 6
107.7
86.61
94.9
108. 1
86.52
94.5
107. 3
85.61
94.5
109.9
85. 34
94.5
110.5
85. 17
94.8
111.9
86.21
95.4
113.7
87. 69
95.9
113.5
87.87
95.7
111.2
87. 61
95.4
110.2
86.07
95. 4
110.1
86.64
95.8
112.1
87.02
133. 92
134. 52
168 56
162. 82
137. 47
133. 89
153.52
151. 77
162 65
164 03
160.43
167.36
150.81
157. 72
136. 69
132. 43
143. 42
144. 94
134. 82
135. 58
188.43
184. 91
246. 49
249. 77
151.86
156. 85
117. 84
125. 30
91.01
94.62
131.65
132. 28
163. 70
159 05
134. 97
131. 33
150.43
148 44
1 58. 28
160 65
154.50
161.12
146. 10
152 91
131. 74
127. 77
138. 15
139. 49
129. 99
130. 81
183. 01
179.28
238. 82
241. 24
148.25
152. 98
112. 35
119. 58
86.01
90.10
112. 20
105. 88
6.33
136 34
130 51
5.83
111.74
106 51
5.24
125 57
120 68
4.88
140 84
135 71
5. 13
135. 73
129. 09
6.64
133. 06
126 35
6. 71
101.35
95. 43
5.92
113. 54
104 74
8.80
117.18
111.74
5.44
183. 17
174 76
8.42
184. 88
176. 26
8.62
116. 51
108 52
7.97
95. 86
88 71
7.16
81. 52
75.06
6.46
108. 48
105. 67
1.61
108 34
105. 50
1.58
108. 00
105. 20
1.55
109 03
106. 22
1.56
104 75
101.86
1.63
104. 63
101.78
1.61
105 52
102. 66
1.62
106. 25
103. 38
1.61
107. 40
104. 42
1.63
109. 44
106. 40
1.68
106. 74
103. 70
1.67
105. 51
102. 42
1.74
105. 47
102. 37
1.76
108. 52
105. 36
1.80
111.37
108. 22
1.79
118. 69
Face value total all issues §
do
115.44
Domestic
do
1.97
Foreign
do
Yields:
4.73
Domestic corporate (Moody's)
percent-.
By ratings:
4.41
Aaa
- __do
4.56
Aa
_
do
4.77
A
do
5.19
Baa
_
- . _.do
By groups:
4.59
Industrial
__ _
_
do
4.69
Public utility
do
4.92
Railroad
,
do __
Domestic municipal:
3.51
Bond Buyer (20 bonds) _
_
do
3.73
Standard & Poor's Corp. (15 bonds)
do
4.01
U S Treasury bonds, taxable© _
_ _-do
116 51
113. 30
1.90
116.16
112.98
1.88
117 00
113 82
1.88
113 03
109 81
1.91
113. 42
110. 18
1.93
114 39
111. 16
1.92
114.37
111.17
1.90
114.39
111. 10
1.90
115.93
112. 59
1.95
113. 79
110.42
1.98
113. 42
109. 97
2.06
113.45
109. 98
2.08
115 74
112. 25
2.10
118.28
114. 80
2.86
4.66
4.74
4.73
4.70
4.71
4.70
4.70
4.67
4.63
4.58
4.59
4.63
4.64
4. 61
4.57
4.42
4. 55
4.74
5.08
4.42
4.56
4.74
5.07
4.39
4.53
4.71
5.04
4.33
4.49
4.66
5.02
4.28
4.43
4.62
5.00
4.28
4.44
4.62
5.02
4.34
4.49
4.65
5. 05
4.35
4.49
4.66
5.06
4.32
4.46
4.62
5.03
4.28
4.41
4.61
4.99
Foreign
- - do
Value, issues listed on N.Y.S.E., end of month :
Mfarket value total all issues§
bil $
Domestic
do
Foreign
do
96.6
114.4
87.73
4.35
4.48
4.70
5.08
4.45
4.59
4.81
5.12
4.42
4.56
4.79
5.13
4.39
4.54
4.75
5.11
4.42
4.56
4.74
5.10
4.54
4.57
4.82
4.61
4.67
4.94
4.60
4.66
4.92
4.58
4.63
4.89
4.59
4.62
4.91
4.57
4.61
4.92
4. 57
4.62
4.90
4.52
4.60
4.88
4.46
4.56
4.86
4.42
4.50
4.83
4.45
4.47
4.86
4.52
4.48
4.90
4.51
4.50
4.90
4.45
4.49
4.88
4.40
4.4f>
4. 85
3.46
3.46
3.90
3.49
3.54
4.02
3.36
3.46
3.98
3.48
3.44
3.98
3.42
3.49
4.06
3.22
3.32
4.08
3.20
3.28
4.09
3.12
3.19
4.01
3.00
3.08
3.89
3.24
3.09
3.88
3.24
3.24
3.90
3.33
3.30
4.02
3.14
3.31
3.97
3. 06
3.18
3.94
3.01
3.03
3.89-
Cash dividend payments publicly reported :
2
Total dividend payments
__ __
mil. $__ 213,575 14,154 2, 008. 8
987.4
401.4 2, 750. 5 1, 065. 4
544.4
2,074.4
987.8
384.0 2, 086. 2
994.8
395. 4 2, 137. 9 1, 026. 5
22 2, 048 2 2, 160
189.3
do
_- _do__ _ 7, 047 2 7, 346 1,277.0
107.7
2549
2544
do
182.4
350.0
16.9
400. 5
114. 1
135.0 1,712.2
157.3
3.5
284.3
295.2
11.1
183. 8
235.3
134.5 1,331.4
109.0
3.0
188.9
340.9
11.1
167. 6
91.9
131.4 1, 354. 5
5.2
108.5
197.4
338.6
10.5
229.4
93.2
13*. 5 1, 352. 3
105. 5
3.0
195. 7
361.8
11.4
112.8
201.3
50.7
58.4
27.5
236. 4
124.8
19.7
62.4
14.3
Stocks
Finance
Manufacturing
Mining
Public utilities:
Communications
Electric and gas
Railroads
Trade
Miscellaneous
1, 588
2370
2581
2212
2 1, 283
21,692
2356
2578
2195
96.9
191.2
57.9
59.8
29.0
235.4
118.4
19.1
50.8
8.4
2.4
114.6
1.5
22.8
7.5
109.9
197.6
75.9
62.1
35.0
235. 4
119.7
30.9
77.3
11.5
2.2
115.5
4.2
42.9
6.8
113. 2
197.3
56.7
53.3
29.7
235. 3
123.3
20.5
57.9
9.9
3.3
116.8
5.5
23.0
6.9
113.0
199.1
56. 6
59.3
27.6
235.7
123.8
16.9
59.8
12.1
2.9
118.6
8.7
23.5
10.0
5.59
6.03
2.68
3.53
3.97
4.75
5.70
6.07
2.81
3.37
4.21
5.18
5.68
6.02
2.83
3.37
4.21
5.19
5. 69
6.04
2.84
3.38
4.21
5.19
5. 88
6.33
2.85
3.36
4.25
5.19
5.89
6.33
2.86
3.36
4.25
5.19
5. 92
6.37
2.86
3.36
4.30
5.19
5.95
6.41
2.86
3.35
4.30
5.19
5.96
6.41
2.91
3.35
4.30
5.29
5.96
6.42
2.91
3. 35
4.30
5.29
5.97
6.41
2.97
3.35
4.30
5.29
5.97
6.41
2.98
3.35
4.30
5.29
5.97
6. 40
2.98
3.35
4.30
5.29
5.97
6.40
2.99
3.35
4.30
5.32
155. 46 185. 66 187. 49 193. 10 200. 36
Price per share, end of mo. (200 stocks) 9 ...do
173. 18 199. 90 201. 55 207. 23 213. 75
Industrial (125 stocks)
do
94.50
99.77 103. 91
90.55
69.82
Public utility (24 stocks)
do
68.78
71.01
70.01
68.26
62.46
Railroad C25 stocks)
do
r
Revised.
1 End of year.
2 Annual total.
§Data include bonds of the International Bank for Reconstruction and Development not
shown separately; these bonds are Included in computing the average price of all listed
bonds.
202. 73
216. 69
99.32
69.10
195. 17
209. 40
95. 14
70.43
198. 76
212. 12
97.76
69.98
198. 91
213. 78
98.87
68.60
186. 28
198. 72
96.45
64.78
171.39
183.43
86.79
62.00
157. 34
168. 00
81.74
57.19
168. 24
178. 96
87.72
58.27
170. 51
181. 40
90. 12
59. 25
_ _.
do
-do
do
- .-do
do
_
Dividend rates and prices, common stocks
(Moody's) :
Dividends per share, annual rate (200 stock?)
dollars __
Industrial (125 stocks)
_ __ _
do
Public utility (24 stocks)
.__ _. do
Railroad (25 stocks)
do
Bank (15 stocks)
do
Insurance (10 stocks)
_ ._ .do
21,181
2
5 97
fi! 40
3.02
3.34
4.30
5.32
161. 75
172. 29
87.42
56. 07
5.91
6.29
3.03
3.39
4.30
5.32
164. 02
174.24
86.83
58. 66
c?Number of bonds represent number currently used; the change in the number does not
affect the continuity of series.
^Prices are derived from average yields on basis of an assumed 3 percent 20-year bond.
OFor bonds due or callable in 10 years or more.
9 Includes data not shown separately.
SUEVEY OF CURRENT BUSINESS
November 1902
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
1961
Monthly
average
S-21
Sept.
Oct.
Nov.
1962
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
FINANCE—Continued
SECURITY MARKETS— Continued
Stocks— Continued
Dividend yields and earnings, common stocks
(Moody 's):
Yield (200 stocks)
percent..
Industrial (125 stocks)
do
Public utility (24 stocks)
do _.
Railroad (25 stocks)
do
Bank (15 stocks)
do
Insurance (10 stocks) __
do
3.60
3.48
3.84
5.65
3.91
2.92
3.07
3.04
3.10
4.94
3.18
2.31
3.03
2.99
2.99
4.90
3.06
2.22
Earnings per share (indust., qtrly. at ann. rate;
pub. util. and RR.,for 12 mo. ending each qtr.):
Industrial (125 stocks), dollars-- 219.62
4.12
Public utility CH stocks)
do
2
4. 80
Railroad (25 stocks) _ __
. do
19.61
2
4.33
23.94
8.80
4.27
3.56
4.66
4.69
4.62
4.59
4.64
4.59
4.52
4.48
4.45
4.45
4.52
4.59
4.55
232. 44
691. 55
117. 16
143. 52
237. 88
711.02
121.20
143. 23
241. 67
703. 01
127. 69
149. 67
248. 56
724. 74
133. 74
149. 06
246. 76
728 44
131.90
143 86
239. 95
705 16
124. 46
147 38
243. 07
711 95
127.45
148 61
243. 36
714 21
129. 84
145 24
237. 42
690 28
129 25
142 29
221. 91
643. 71
120. 03
134 96
198. 94
572 64
109. 17
121 64
203. 10
581 78
113 91
122 75
208. 94
602. 51
118.93
121 89
66.27
67. 26
68. 00
71.08
71.74
69.07
70.22
70.29
68. 05
62.99
55. 63
56.97
69.99
67. 33
57.01
60. 20
32.83
70.89
69. 78
59.82
62. 19
33.02
71. 42
69. 32
61.26
64. 15
34. 53
74.72
70.91
64.77
67.19
34. 30
75.81
70. 58
65.00
65.77
33.21
72.99
68.06
61.78
62.69
33 77
74.22
68.37
62.35
63.70
34 23
74.22
68.06
62.26
64. 51
33 45
71.64
64.49
60.66
63.86
32 31
66.32
58.17
55.86
58.84
30.71
58.32
50. 18
48.98
53. 32
28 05
59. 61
51.08
49.82
55 51
28 29
33. 75
70.78
45. 42
36.09
77.27
47.16
36. 73
79. 26
49. 40
39. 93
83.87
51. 60
40.10
83.50
50.97
38.02
76.79
47.60
39.09
75.79
49.24
38.10
73.41
49.71
36.11
70 94
48.42
32.33
65.11
43. 79
29.69
58. 45
38.36
31.02
59 88
38.52
3,768
116
5,317
168
4,215
123
4,624
136
5,282
156
5, 338
165
5,203
157
4 219
126
4 447
135
3 954
114
5 367
148
6 728
204
3,163
80
4,392
108
3, 543
82
3,898
90
4,420
103
4,467
106
4,366
103
3, 545
85
3 703
88
3 335
79
4 649
105
64
85
64
73
88
82
81
66
68
65
Shares listed, N.Y. Stock Exchange, end of mo.:
Market value, all listed shares -- _
bil. $.. 291. 49
Number of shares listed
millions. - 6,231
358. 93
6,752
361. 14
6, 871
371. 99
6, 974
387. 35
7,009
387. 84
7,088
375. 20
7,202
383 42
7,269
381 36
7,302
357 77
7,343
Dividend yields, preferred stocks, 14 high-grade
(Standard & Poor's Corp.)
percent--
4.75
Prices:
204. 57
Dow- Jones averages (65 stocks)
618.04
Industrial (30 stocks)
91.39
Public utility (15 stocks)
138. 93
Railroad (20 stocks)
Standard & Poor's Corporation:^
Industrial, public utility, and railroad:
Combined index (500 stocks)
1941-43 =10. _ 55. 85
59. 43
Industrial, total (425 stocks) 9
do
59.75
Capital goods (123 stocks)
do
47.21
Consumers' goods (193 stocks)
do
46.86
Public utility (50 stocks)
do
30.31
Railroad (25 stocks)
_
do
Banks:
26.23
New York City (10 stocks)
_
do
Outside New York City (16 stocks) _ do ... 53. 10
33.93
Fire insurance (16 stocks)
do
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
mil $
Shares sold
. _ millions.
On New York Stock Exchange:
Market value
- mil. $__
Shares sold
millions
Exclusive of odd lot and stopped sales
(N Y Times)
millions
2.95
2.91
2.85
4 76
2.78
2.10
2.93
2.96
2.74
4.80
2.83
1.98
2.91
2.92
2.88
4 86
2.75
2.10
3.03
3 04
3.01
4 77
2.94
2.20
2 99
3 02
2.93
4 79
2.81
2.13
11.64
4.33
3.94
3.00
3 00
2.94
4 88
2 97
2. 10
3.20
3 23
3 02
5 17
3 26
2.28
3.48
3.49
3.42
5 40
3.56
2.59
10.80
4 45
4.69
3.79
3.82
3.65
5 86
3.74
2.86
3.55
3 58
3.40
5 75
3 45
2.68
3.50
3.53
3.32
5.65
3.43
2.63
3.69
3 71
3.45
5 96
3.70
2.85
3.60
3.61
3.49
5 78
3. 62
2.78
9.50
4 56
5.04
11.10
4 50
4.98
4.50
4.49
82
02
53
76
202. 73
580 65
117 77
117 58
58.52
58.00
56. 17
61.29
52.91
51.17
56.96
28 09
60.67
52.08
50.60
56 96
27 68
58. 66
50. 83
49. 06
55 63
27 40
32. 35
61. 93
40.72
31.33
61 23
39.79
30.26
59 00
37 47
4 291
131
4 117
132
3 393
104
6 034
156
3 789
99
3 575
96
2 930
74
111
100
74
77
63
326 78
7 434
298 97
7 485
318 84
7 533
324 51
7 552
308 44
7 561
207
597
120
119
79
FOREIGN TRADE OF THE UNITED STATES
FOREIGN TRADE
Indexes
Exports of U.S. merchandise :J
Quantity
1957-59=100..
107
108
Value.
do
109
111
Unit value. ._
_ _ d o ..
103
101
Imports for consumption^
Quantity
do
109
107
Value
. do
105
108
Unit value. _
do.
99
98
Agricultural products, quantity:
Exports, U.S. merchandise, total:}:
Unadjusted
1952-54=100..
194
p 193
Seasonally adjusted.
- __ _do
Cotton fiber (incl. linters), seas, adj
do
202
p 172
Imports for consumption, total: {
Unadjusted
do
103
106
Seasonally adjusted
do ...
106
Supplementary imports, seas, adj
do
108
Complementary imports, seas, adj
do
102
109
Shipping Weight
Water-borne trade:
Exports, incl. reexports§
thous. Ig. tons._ r r 9, 382 r r 9, 526
14. 794 13, 984
General imports
do
Valuet
Exports (mdse.), incl. reexports, totalt
mil. $._ 1,713.2 1, 739. 5
Excl. Dept. of Defense shipments
do
1,634.1 1, 672. 0
Seasonally adjusted*
_ ..do
By geographic regions: A
Africa
Asia__ .
Australia and Oceania
Europe
...
Northern North America
Southern North America
South America
do
. . . . do
do
. . . do
.
r
..
do
do
_ _ _ d o ...
101
104
104
116
120
104
111
116
105
111
116
105
100
104
104
108
113
105
112
117
105
116
120
103
121
125
104
122
126
103
106
109
103
104
107
103
105
103
98
120
116
97
118
115
98
112
110
98
121
116
96
108
104
96
193
118
96
119
114
96
126
12°
96
119
114
96
120
114
95
124
118
95
P158
v 174
p 149
P218
p 199
P 105
J>223
P 188
p 124
p 213
p 173
P 121
102
112
106
116
109
125
124
126
101
117
145
99
114
103
126
93
9, 851
14, 188
10, 904
15, 160
10,419
14, 387
9,389
14, 694
7,873
14. 432
8, 833
13, 078
8,847
9,509
14 884 r 14 326
11,536
16 936
1,631.0
1,556.5
1,667.8
1,889.8 1,817.7 1, 826. 9 1, 642. 2 1,774.6 1,844.9 1, 881. 2 1,972.5 1, 970. 4 1, 709. 1 1,682.5 1, 761. 2
1,816.8 1, 759. 4 1,777.3 1,591.8 1,712.4 1,783.2 1, 798. 8 1, 892. 4 1, 894. 1 1, 621. 5 1, 634. 6 1,711.0
1,772.9 1,716.3 1, 719 2 1 660 0 1 852 1 1 632 1 1 794 6 1 774 7 1 858 9 1 718 1 1 651 6 1 935 9
63. 8
303.9
39.6
543. 8
68.9
342.3
33.4
536.7
63. 1
293.8
32.5
490 5
78.0
324 4
34.1
603 2
82.5
332. 6
32.6
573 8
77.0
389 6
30.2
561 0
78.9
348 9
31.0
502 8
80.8
331 7
33.1
574 1
86.7
341 1
32.9
584 5
94.8
337 4
40.2
557 6
79.7
352 8
41.6
581 0
88.7
359 8
41.9
573 7
78.6
326 7
41.7
4^3 8
309. 2
139.4
174.7
303.6
121.4
185.8
299.5
123.6
184.5
350. 0
125.7
205.7
317.9
130. 7
185.2
272 8
287.7
109.9
126.4
202. 8 1 160.9
273 8
114.5
164.5
310 8
126.5
187.5
352 2
117.7
182.7
379 6
134.9
176.0
370 4
134.9
185.4
314 0
118.8
150.5
Revised.
p Preliminary.
* Quarterly average at annual rate.
2 For 12 months ending Dec.
(^Number of stocks represents number currently used; the change in number does not
affect continuity of the series.
9 Includes data not shown separately.
tRevisions for Jan.-Dec. 1960 (prior to May 1961 for indexes rebased to 1957-59=100) will
be shown later.
73.6
319 7
39.6
4Qc n
80.3
004 a
52.3
CJK 7
303 9
290 6
127.1
129.2
173.7
171.6
§Excludes "special category" shipments and all commodities exported under foreign-aid
programs as Department of Defense controlled cargo.
^Includes grant-aid shipments under the Dept. of Defense Military Assistance Program,
as well as economic aid shipments under other programs.
*New series. Revised data prior to 1961 may be obtained from Bu. of Census reports.
AExcludes "special category" shipments.
SURVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
Monthly
average
November 100'
1961
Sept.
Oct.
1962
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
FOREIGN TRADE OF THE UNITED STATES— Continued
FOREIGN TRADE— Continued
Valuei— Continued
Exports (mdse.), incl. reexports — Continued
By leading countries:
Africa:
United Arab Republic (Egypt Reg.) mil. $..
Republic of South Africa
do___
Asia and Oceania:
Australia including New Guinea
do
State of Singapore
_do_ _
India
do
Pakistan
do. _Japan
do___Republic of Indonesia
do
Republic of the Philippines
. . do
Europe:
France
_do _ _
East Germany
do_ _ _
TVest Germany
do
Italy
-do. _Union of Soviet Socialist Republics
do
United Kingdom
do
North and South America:
Canada
_
do
12.6
23.1
13.5
19.0
8.4
15.9
18.6
16.1
18.2
16.2
18.0
17. 5
25.0
15.2
24.1
19.2
22.2
19.4
28.8
21.5
23.9
15.1
22.4
22.2
22.3
20.2
16.7
15.0
13.9
19.9
32.3
3.4
53.4
14.2
111.8
7.2
24.8
26.6
3.9
40.2
16.3
144.9
11.2
27.7
27.4
3.8
24.6
13.4
132. 5
12 2
23. 7
28.6
3.5
38.2
14. 3
133.3
13.5
29. 3
27.3
4.7
29.9
18.9
135.2
6.9
36.3
25. 3
4.7
46.7
32.6
155. 3
11.2
23.2
28.2
4.2
44.9
20.7
134.3
11.7
20.3
27.4
3.8
29.8
12.2
134. 2
9.6
21.0
27.5
2.9
43.1
9.5
132. 0
11.1
23.2
34.8
3.7
47.6
17.8
115.5
15. 3
23.1
35.2
4.4
60.8
23.5
116.8
8.7
22.5
35.2
5.4
68.2
31.9
117.4
11.2
22.8
35.4
3.3
75.0
35.7
97.0
7.0
21.7
33.4
4.1
57.0
28.9
102.2
9.3
21.5
45.6
5.3
52.7
30.6
110.0
12.2
23.8
48.5
.3
89.2
54. 2
3.2
117.6
47.1
2
89^6
66. 2
3. 6
94.2
44.9
82.2
55.9
2
109". 1
43.8
.2
108.1
62. 8
.5
129. 2
45.8
.5
95.0
66.0
.5
103.9
47.2
.1
94.1
63.7
.4
100. 9
47.4
0)
74.5
59.9
.2
78.8
56. 0
0
93.5
71.2
2.7
100.3
50.6
.1
102.3
76.7
.2
91.3
55.6
.1
91.9
57.3
2
85! 3
59.9
.7
101.1
60.7
4.3
84.3
50.3
.1
95.3
72.3
2.8
77.8
35.7
.1
82.3
48.7
1.0
83.6
40.3
.1
85.5
58.9
1.4
75.6
46.8
.1
85.3
58.5
.7
110.8
309. 1
303. 6
299.5
349.9
317.9
287. 6
272.7
273.8
310.8
352. 2
379.6
370.3
314. 0
303. 8
290.6
289.8
281.7
Latin American Republics, total 9
do
29. 2
35.3
Argentina
do
35.
9
40. 5
Brazil
_.do_
1C). 2
18.9
Chile
- - _ _ d o ...
20. 5
20.4
Colombia
do
18. 6
1.1
Cuba
do
68.3
66. 4
IVTexico
do
45. 9
42. 5
Venezuela,
do __
1,696.5 1,719 0
Exports of U S merchandise total^f
do
By economic classes:
212.2
215.7
Crude materials
do
158. 1
137. 1
Crude foodstuffs
- do. _
96.4
93.1
Manufactured foodstuffs and beverages. -.do
273.9
294.5
Semimanufactures cf
do
978.4
956.1
Finished manufactures c?
- -- do_ By principal commodities:
419.1
402.7
Agricultural products, total 9
do
82.3
73.7
Cotton unmanufactured
_ . _ _ do
32.4
32.9
Fruits, vegetables, and preparations
do
137.9
157. 8
Grains and preparations
- do
25.1
27.4
Packinghouse products
do
39.7
41.6
Tobacco and manufacturesA do
1,293.8 1,299.9
Non agricultural products total 9
do
108.1
98.6
Automobiles, parts, and accessories
do
140. 5
143.8
Chemicals and related products§
do
30.2
29.2
Coal and related fuels
do
73.2
68.7
Iron and steel products
do
283. 2
35.6
36.5
18.7
21.0
0)
67.3
44.6
1,614.3
306. 5
286.4
302.0
49.0
40.7
34.8
39.1
30.6
40. 8
19.1
19.8
20.2
19.2
17.7
26.6
.1
.1
.1
70.4
70.9
69.6
48.1
43.3
52.0
1,866.8 1, 797. 9 1,806.9
246.8
37.4
30.8
13.4
17.4
.2
55.8
34.6
,617.2
254.4
33.6
30.0
17.0
20.3
0)
62.0
35. 7
1,753.6
279.6
291.9
274.6
283.4
243. 5
272.3
273.1
42.9
37.8
29.4
32.5
32.6
24.1
40. 5
32.5
42.9
39.1
33.
5
42.0
36.5
29.4
15.3
12.3
16.7
11.2
12.3
17.9
14.2
23.6
22 2
20.8
17.4
21.9
20.1
22.6
.1
0
0)'
^)
0)
0)
0)
59.3
69.0
64.8
59.9
53. 6
74.8
62.9
41.1
41.9
38.1
32.2
37.4
40.9
50. 1
1,822.5 1,857.4 1, 946. 2 1, 948. 5 1,691.5 I, 662. 2 1. 742. 3
164.5
146.9
107.3
250.2
948.1
167. 5
175. 8
108.2
252.9
1,049.1
171.2
204.1
193.1
192.9
161.8
176.0
189.8
214.9
153. 4
176.9
122.3
127.8
127.7
106.1
107.7
255.5
264.3
257. 0
227.6
254.9
1,097.4 1, 156. 2 1, 153. 6 1, 162. 6 1,011.6
(')
202. 5
249.3
145.9
189.4
79.5
119.8
249.9
272.7
936.4 1, 035. 6
250.2
232.1
180.9
178.8
104. 7
106.6
262.4
280.9
997.8 1,010.4
371.3
501.5
376. 8
411.3
490.1
469. 5
44.8
43.0
77.5
54.6
53.5
58.8
31.6
49.5
29.9
35. 1
32.9
30.4
139.3
181.3
157.9
186.4
190.3
179.1
24.7
30.0
21.9
24.5
26.8
30.8
76.1
82.3
43.9
23.7
27.2
64.6
1,243.0 1, 365. 3 1,307.8 1,337.5 1 , 240. 4 1,342.3
85.8
105.4
107.9
98.9
110.4
107.3
139.2
148.1
142.6
142. 3
148.0
141.4
37.3
36.2
21.2
27.8
25.0
33. 0
67.2
71.3
66.2
57.3
50.9
66. 9
155. 7
186.2
153. 1
152.6
109.7
111.8
265.1
279. 5
978.5 1,012.3
428. 0
470. 5
359. 6
473.3
402.1
396.6
410.9
55.0
59.0
19.9
50.4
23.2
42.6
66.2
34.5
39.3
37.8
35.7
37.7
34.0
30.7
188.2
187.9
152. 7
217.6
182.4
153. 2
151. 5
23.5
36.7
23.2
31.5
23.4
25.0
24.7
31.9
40.2
31.2
37.9
76.0
32.8
36.3
1,394.5 1,446.5 1, 472. 9 1, 478. 0 1, 289. 4 1, 302. 6 1,345.7
112. 5
113. 5
88.1
121.9
91.0
119.8
113.0
153. 0
158.8
155.2
149.6
158.4
142. 2
158.1
26.0
35.3
37.5
42.6
39.0
28.3
31.0
48.6
50.7
54.6
59.4
49.0
61.5
39.3
378.6
440.6
360. 5
422.1
493.6
394.7
402.6
387.3
403.2
477.0
400.4
412.6
406. 7
462.0
423.8
Machinery total §9
- - do
12.1
7.8
14.3
8.8
10.2
16.7
10.6
12.0
12.0
17.6
12.1
9.4
16.5
Agricultural._ __ _ _ _
do
14.9
9.9
32.3
28.8
32.9
34.2
30.2
29.9
23.5
38.5
26.3
28.5
24.5
29.4
34.4
31.3
26.4
Tractors parts, and accessories
do
85.2
89.9
99.1
104. 4
116.9
93.5
95.0
117.9
91.9
90.3
98.7
105. 1
113.8
99.7
Electrical
- _
--do
105.6
50.5
30.8
38.1
48.1
39.5
49.7
46.6
41.3
36.1
40.0
47.7
42.5
40.9
39.1
40.7
Metal working§
do
169.4
207.5
217.2
178.8
186.1
189.1
192.0
188. 6
194.6
219.5
205. 6
196. 6
187.5
193. 6
220.0
Other industrial
do
39.9
37.3
34.0
33.3
33.0
37.7
33.0
37.1
31.3
38.2
39.0
39.8
38.2
37.5
43.5
Petroleum and products
_ - __ _
do
59.9
63.1
57.8
53.9
60.6
60.0
49.0
55.2
56.8
58.0
59. 3
63.2
59.2
48.2
60.4
Textiles and manufactures
do
1,251.5 1,226.7 1,197.1 1,358.6 1,342.2 1,294.9 1, 372. 6 1, 224. 2 1, 385. 9 1, 333. 2 1, 453. 5 1,350.2 1,337.1 1, 358. 8 1,342.3
General imports totalO
do
1,317.7
1,280.3
1,296.5
1,345.8
1,314.1
1,
336.
1
1,377.0
1,320.1
1,385.0
1,374,2
1, 353. 4
1, 498. 6
Seasonally adjusted*O
do
1,310.7
By geographic regions: O
52.2
53.2
45.9
64.1
56.9
40.5
57.2
61.7
55.8
67.8
51. 1
85.8
66. 4
Africa
do
62.9
46.3
220. 9
244.5
236. 6
242. 6
227.6
21 5. 2
243.8
265.9
201. 4
266. 8
241.9
235. 3
262.6
Asia
_
_- -_-do _ _ . 226. 8
258.3
51. 5
22.2
28.2
22.6
29.5
34.2
32.4
26.4
27.2
26.7
29.2
Australia and Oceania
_
_ _ __ do. _
46.7
37.4
27.3
31.9
355. 6
327.6
420.9
362. 8
398. 5
377. 5
379.9
367.3
361.5
416.3
345. 8
376.9
Europe
do
365.9
367.7
414.8
262.9
316.1
292.5
283.6
278.8
339.3
241.8
275.5
272. 4
326.0
Northern North America.do
319.7
292.7
313.3
302.6
310.8
127.2
90.3
93.3
113.5
137.8
113.8
129.4
109.7
149.7
141.6
Southern North America
do
109.2
123. 7
109. 1
111.7
105.1
202. 9
199.2
201.4
223. 9
220. 1
196.7
226.9
191.2
198.7
207.2
South America
do
200.3
182.3
186. 1
195.2
207.0
Bv leading countries: O
Africa:
2.9
2.6
.5
.6
.4
2.0
.8
3.2
United Arab Republic (Egypt Reg.). _ .do
3.0
5.8
2.6
.9
3.9
1.1
17.4
22.9
16.7
18.8
19.4
Republic of South Africa
do. _
16.5
17.1
27.9
18.3
16.9
22.7
27.0
15.6
18.8
28.6
Asia and Oceania:
15.4
11.9
15.4
18.3
33. 6
16.7
22.9
17.1
16.4
Australia, including New Guinea _ _.do. __
19.1
16.2
19.5
22.9
28.8
25.0
1.2
.9
1.6
3.4
1.1
1.6
State of Singapore
_
do_ __
1.8
1.7
.9
.8
.9
1.4
1.2
21.0
3L4
19.0
18.7
20.3
17.8
24.8
21.0
20.4
India
_
do_
16.1
26.9
22.0
21.3
19.2
24^2
3.1
3.0
3.3
2.2
4.5
1.9
37
4.4
Pakistan
_do_ __
3.1
2.3
5.7
4.0
3.0
2.7
2.7
87.9
99.5
103.9
95.7
94.3
99.6
94. 0
107.5
77.8
Japan
do
116.7
106.2
113.7
120.2
131.9
129.8
13.6
12.9
17.2
18.0
14.0
14.8
9.5
13.0
12.4
Republic of Indonesia
- _
do
12.3
12.4
12.9
9.9
12.9
9.4
26.4
27.4
25.6
28.3
15.5
25.6
21.6
20.7
15.5
Republic of the Philippines
do
37.4
31.2
27.1
40.2
32.6
22.7
Europe:
36.3
33.0
35.5
49.8
France
do
44.0
39.4
42.4
35.6
39.8
33.2
34.7
38.1
36.5
32.0
31.0
.2
.3
.1
.1
.1
.2
.2
East Germany
_ _
do_ __
.5
.5
.2
.2
.1
.4
.2
.2
71.3
74.8
67.9
81.8
82.8
70.6
67.6
81.3
West Germany
..do
76.3
76.9
80.7
75.9
74.1
80.0
83.1
31.3
29.4
40.1
32.8
32.4
Italy
do _
38.7
33.2
31.3
39.0
36.2
37.5
33.0
36.3
41.7
37. 6
2.2
1.9
1.9
3.3
1.2
.9
Union of Soviet Socialist Republics
do
.6
1.6
1.8
.9
1.2
1.7
2.1
1.2
2.1
75.1
102.4
82.7
70.7
83.2
81.9
85.4
United Kingdom
do
84.0
74.5
82.4
93.7
79.1
84.9
80.7
77.0
r
Revised.
1 Less than $50,000.
AManufactures of tobacco are included in the nonagricultural products total.
^Revisions for individual months of 1960 and for Jan. 1961 will be shown later.
§Excludes "special category, type 1" exports.
*New series. Data prior to Aug.
9 Includes data not shown separately.
f See similar note on p. S-21.
1960 may be obtained from Bureau of Census reports.
O Effective with the Apr. 1962
cfData for semimanufactures reported as "special category, type 1" are included with
SURVEY, the import totals and appropriate components reflect revisions to include uranium
finished manufactures.
ore and concentrates. For certain recent months, the data by regions and countries exclude
imports unidentified by area of origin.
SURVEY OF CURRENT BUSINESS
November 1962
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
Monthly
average
S-23
1962
1961
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Valuet— Continued
General imports, by leading countries©— Con.
North and South America:
Canada
mil. $
Latin American Republics total 9
Argentina
Brazil
_ _
Chile
Colombia
Cuba
Mexico
Venezuela
do
do__ _
do
do
_ __ __ _do._ _
do
do
do
262.8
272.2
283.4
316.1
310.6
278.8
275.3
241.7
292.4
292.6
325.7
339.1
313.0
319.3
302.1
294.0
267.8
250. 1
253.2
263.8
296. 8
323.3
279.6
315.4
264.4
307.8
267.9
255.0
260.2
262.3
8.2
47.5
16.0
24.9
29.8
36.9
79.0
8.5
46.8
15.4
23.0
2.9
44.9
74.9
8.9
57.3
8.1
21.9
4.0
31.2
71.2
9.0
56. 5
14.8
24.1
3.1
35.5
65.0
7.3
45.3
18.5
18.7
28
42.8
72 7
5.8
56.9
16.8
21.2
2.5
49.7
88.3
7.1
54.6
24.8
17.9
3.7
60.7
92.9
7.3
47.5
12.9
19.6
2.1
56. 4
77.5
9.6
40.0
22.2
18.5
.6
57.8
93.1
10.2
39.0
11.4
18.3
8.0
42.0
27.7
24.4
.2
59.1
79.1
9.7
35.1
19.6
20.4
7.7
37.7
20.2
22.9
38.8
84.7
36.0
66.2
9.0
44.2
4.9
29.7
0)
33.1
80.7
9.4
48.2
9.9
31.8
0)
34.6
75.4
0)
61.2
79.6
0)
(0
1,251.2 1,219.0 1,196.5 1,353.8 1,336.9 1,272.7 1, 353. 6 1,207.8 1,368.8 1, 325. 6 1,412.7 1, 320. 6 1,328.4 1.370.7 1,345.0
Imports for consumption, total©
do
By economic classes:
281.2
281.3 262.7
257. 4
267.3 286. 8 288.7 276. 7 301.2
265.9
294. 5
271.8 291.0
275. 6
273 8
Crude materials
do
143.0
143.4
132. 5
130. 5
148.8
158. 5
146.4
153. 9
155. 4
127.1
136. 1
159. 8
136. 2
141.9
Crude foodstuffs
do
132.0
150. 2
130. 5 133. 5
135.2
150. 7
131.2
125. 1
104 2
144.3
133.8
160.8
160. 9
153.7
147.8
Manufactured foodstuffs and beverages do
163 0
257.6 257. 0 250.0
281. 3
289.6 275.9 309.5 260. 2 303.6 285.8 298 3 269.0 279. 5 280.7 268. 0
Semimanufactures
do
438.3 422.9 414.9 479.4
491. 5
511.4
489. 0
484.9
504. 9
504. 4
Finished manufactures. .
..do
478.6 445.0 468. 3 427. 5 487.4
By principal commodities:
337.2 288. 3 300. 4 330.3 313.0
328.7
313.0
Agricultural products, total 9
do_ __ 318.6 307.5 297.2 320.6 305.4 301.5 326.0 300.0
13.3
11.9
7.3
5.3
16 7
11. 1
12.4
17.2
4.5
2.7
14.8
12.6
17 6
!0 0
35
Cocoa (cacao) beans Incl shells
do
80.3
83.6
87.2
75.1
75.4
79.2
94.2
83.4
63. 9
70.4
78.8
92.7
83.3
66.6
87.1
Coffee
- -do.
18.0
26.8
21.1
16.1
21.7
22.2
16.5
18. 5
16 0
20 7
19 1
22.8
18.5
16.9
21 0
Rubber crude including guayule
do
38. 1
42.3
34.6
36.5
38.2
58.3
45.2
35.3
40.6
27.3
22.5
46.7
54.8
35.4
34.7
Sugar
- do.
16.4
16.5
15.4
14.4
20.1
18.0
16.1
16.3
13.1
14.6
19.2
20.7
15.7
14.5
17.0
Wool and mohair, unmanufactured
do
Nonagricultural products, total 9-
--do
Furs and manufactures
do
Iron and steel products
do
Nonferrous ores, metals, and mfs. , total 9
mil. $_„
Copper, incl. ore and manufactures. .do
Tin, including ore
do _ _
Paper base stocks
do. _.
Newsprint
do
Petroleum and products
do_ __
932.5
911.5
9.1
44.2
8.4
37.7
5.2
40 4
4.4
46 0
7.4
51 9
21.0
39 1
16.4
45 0
15. 2
38 6
11.7
46 1
10.5
43 9
8.9
56 6
6 2
51 4
56
51 2
6 6
53 8
7.0
41 2
95.6
33.4
9.8
28.0
57.3
128. 6
89.1
23.2
9.9
27.7
57.2
134.7
89.5
19.7
13.7
28.1
55.4
131.7
113.2
28.0
13.9
31.0
58.4
130.2
110.5
30.9
12.6
30.0
63 9
136.7
103.2
22.8
13.2
27.9
56.5
143.3
111.0
28.2
11.8
29.0
55.9
85.2
21.9
7.6
30.9
48.5
139.7
100.1
25.6
12.9
30.1
56.0
153.4
101.5
22.1
11.0
29.1
54 6
133.8
101.0
23.6
12.5
30.4
61 7
140.2
90.1
24.0
8.9
30 4
63 9
141 3
2 103. 9
21.6
8.4
27 8
57 7
138 2
95.3
20.6
8.3
31 8
57 9
142 6
89.6
20.4
9.9
29.8
53 2
146. 1
20.1
20 2
561
20.2
571
2,043
2,300
433
23
155
214
2,852
540
30
899.3 1,033.2 1,031.5
971.2 1,027.6
-i ITO Q
907.9 1, 040. 1 1, 012. 7 1, 075. 6 1,032.3 1, 027. 9 1. 040. 4 1,032.1
TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Airlines
Scheduled domestic trunk carriers:
Financial operations (qtrly. avg. or total) :
Operating revenues, total 9
mil. $__ 493.5 514.8
509.6
489.1
Transport, total 9
do,
443.4 461.2
Passenger
do
30.0
32.2
Property
_
do
11.7
12.9
U.S. mail
do
484.6 512.4
Operating expenses (Incl. depreciation) do
1.1
*6.0
Net income (after taxes)
do
Operating results:
Miles flown (revenue)
thous.. 60, 419 57, 450
31,718 '37, 131
Express and freight ton-miles flown do
11,066 12, 248
Mail ton-miles
flown
do
Passengers originated (revenue)
do. _ 3,854 '3,815
2,450 2,475
Passenger-miles flown (revenue) __
.milExpress Operations
Transportation revenues
Express privilege payments
Local Transit Lines
Fares, average cash rate§
Passengers carried (revenue)
Operating revenues (qtrl v. avg. or total)
thous. $.. 30, 705 30, 737
10, 420
9,760
do
cents. _
mil
mil. $
18.9
627
351.8
19.6
604
348.9
524.7
539.8
536.1
486.3
33.4
12.3
531.9
519.4
465. 5
35.4
15.0
527.5
d
8.0
dS.S
58, 846
41,002
11,767
3,858
2,543
60, 262
43, 536
12, 520
4,029
2,544
57, 563
42, 180
12, 570
3,839
2,367
9,974
33, 079
10, 803
31,867
10, 266
36, 493
11,614
19.7
585
19.7
633
19.7
615
19.7
615
368.4
31, 466
r
327.0
Class I Motor Carriers (Intercity)
Carriers of property (qtrly. avg. or total):
4 965
*965
Number of reporting carriers
973
Operating revenues, total, _
mil. $ 1,212.1 1,234.4 1 , 273. 6
Expenses, total
_ ___
.do .. 1,181.2 1, 185. 4 1,206.3
71.2
71.6
73.9
Freight carried (re venue) ._
mil. tons._
Carriers of passengers (qtrly. avg. or total) :
4 141
4 141
141
Number of reporting carriers
.
Operating revenues, total..
mil. $_. 115.4
120.5
145.4
Expenses, total
_ _
do .._ 100.9
104.8
114.8
57.2
Passengers carried (revenue)
--mil-56.3
61.2
Class I Railroads
Freight carloadings (AAR):^
Total cars
Coal
Coke
,
Forest products
Grain and grain products
T
thous..
do
do .
do
do
2,537
443
34
159
232
2,382
424
29
156
237
2,951
537
38
189
245
2,580
455
31
157
244
2,310
434
31
146
213
d
2
Revised.
Deficit.
1 Less than $50,000.
Beginning
July 1962, includes
data for
3
4
refined bauxite (imports for 1961 totaled $11.1 mil.).
Quarterly total.
Number of
carriers filing complete reports for 1961.
t See similar note on p. S-22.
O See similar note on p. S-22.
9 Includes data not
shown separately.
56, 501
44, 705
17, 186
3, 786
2, 537
543.3
597 4
488 8
33.8
13.7
555 4
d
538
36
14
561
9
17.0
59,724
39,436
12,695
3,973
2,621
54, 557
37, 540
12, 140
3,591
2,344
62, 745
45, 587
1-1, 360
4,107
2,677
3
4,296
2,746
62, 820
46 614
14 046
4 145
2 662
19.8
613
19.8
554
3
20.0
20.0
619
610
340 7
1 010
1 278 Q
1 242 9
76 6
141
119.4
104.3
57.3
104 8
99 8
51.2
20.1
639
2,141
413
36
153
227
95,257
29 820
20.1
580
538
"
141
132 7
112 2
58 0
2,720
2,250
497
399
44
191
264
60, 280
44 278
13, 064
4 286
2 963
357 7
142
2,039
410
34
129
224
r
3
89,9 13
» 26,277
965
1 334 8
1, 286. 3
77.1
2,610
524
39
162
268
61, 754
43, 381
13, 422
5
4
3
0
4
33
147
206
2,339
410
27
157
196
2, 885
540
29
185
248
9gl
19
138
216
184
254
2,429
444
24
150
236
§Revised effective Jan. 1960 to reflect fares charged in U.S. cities with a 1960 population
of 25,000 or more; revisions for 1960 are shown in the Nov. 1961 SURVEY.
cf Data for Sept. and Dec. 1961 and Mar., June, and Sept. 1962 cover 5 weeks; other months,
4 weeks.
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
| 1961
Monthly
average
November U>f
1962
1961
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION— Continued
Class I Railroads— Continued
Freight carloadings (A AR)^— Continued
Livestock
thous.
Ore
- - do
Merchandise 1 c 1
do _ _
Miscellaneous
do_ Freight carloadings, seas. adj. indexes (Fed. R.):f
Total
1957-59=100-Coal
.
do _ _ _
Coke
-do
Forest products
do
Grain and grain products
do
Livestock
do
Ore
...do
Merchandise I c l
- -do
Miscellaneous
do .
Financial operations:
Operating revenues, total 9 Freight
Passenger
Oneratinsj expenses
Tax accruals and rents
Net railway operating income
Net income (after taxes)
.mil. $__
- -- -do _
-- -do_
do
do
do
do
-
22
184
151
1, 309
19
145
121
1,252
28
263
141
1 510
36
202
111
1, 341
24
144
103
1,214
17
85
117
1,397
13
62
88
1,079
11
62
96
1,142
17
89
125
1 494
17
100
97
1 251
16
194
94
1,244
13
275
116
1 480
9
212
85
1,102
12
203
90
1,169
195
90
91
99
101
83
107
75
96
i 91
87
78
95
104
71
83
61
92
90
89
93
97
96
68
90
58
91
94
90
88
99
104
74
92
56
96
95
92
86
100
97
118
57
96
96
90
92
92
116
64
103
57
97
94
88
99
93
111
63
100
54
95
97
90
98
104
110
64
112
53
98
97
92
96
102
105
73
114
52
97
96
93
93
98
107
79
83
52
98
94
93
80
101
103
70
87
51
95
90
87
71
95
94
52
87
51
92
90
87
69
94
81
56
84
49
93
90
92
77
95
98
62
79
47
91
793.1
669.0
53.4
630.5
113.8
48.8
37.1
765. 8
644. 9
52.1
606 2
114.8
44.8
31.9
774.7
658. 3
47.9
600 5
113 4
60.8
41.5
843. 3
721.0
47.4
623 9
129 8
89.7
73.1
799.6
681.1
47.2
607 1
121 0
71. 5
57.7
770.8
626 4
60 3
614 9
99 5
57.2
69.6
144. 5
1. 374
5 073
149.0
1.370
5 675
13, 893 14,073
1 1 , 286 11 411
2, 662
2,607
14. 541
11 686
2,855
15, 056
12 040
3,016
14. 913
12 005
2,908
13, 753
11 045
2 708
13, 971
11 400
2.571
12, 679
10 161
2,518
13 915
11 350
2 565
14 045
11 329
2 716
13 396
13 143
3 253
Operating results:
Freight carried 1 mile (qtrly.)
bil. ton-miles. _ 3 147. 0
Revenue per ton-mile (qtrly. avg.)
cents_. 33 1. 403
5, 315
Passenger^ carried 1 mile revenue (qtrly ) mil
3
3
3
2
2, 295. 7
212 953 6
144 8
2
12 830 4
352 8
2
112 6
2 66 0
152. 8
1,360
4 943
27
221
110
1,486
r
90
89
74
94
98
67
75
45
89
3
15
9
1,29
9
8
6'
9,
10
7;
6<
4J
9!
2
2,
2
2
407. 9
046 3
157 o
883 1
371 9
2
152 9
- 105. 1
2
2
1
2
148. 2
1.354
4 460
154 6
1.352
5 037
Waterway Traffic
Clearances, vessels in foreign trade:
Total U S ports
thous. net tons
Foreign vessels
do
United States vessels
do_
Panama Canal:
Total
_ _ _
In United States vessels
thous. Ig. t ons__
-- _ d o _ _ _
Travel
Hotels:
Average sale per occupied room _
-dollars __
Rooms occupied
% of total
Restaurant sales index
same mo. 1951 = 100.Foreign travel:
U S citizens* Arrivals
_ thous
Departures
do__ _
Aliens* Arrivals
do
Departures
._
do
Passports issued and renewed
do
National parks visits
do
Pullman Co.:
Passenger-miles (revenue)
mil._
Passenger revenues
thous . $__
5, 206
1,080
5, 445
823
5,021
851
5, 283
795
5,233
839
5, 900
927
5. 465
865
5,290
855
6 200
976
6,103
832
6. 057
986
5,684
828
5,495
741
5, 167
830
4. 932
720
9.15
65
115
9.23
62
112
9.47
65
111
10.04
71
111
9.72
63
109
8.81
49
111
9 00
61
109
9.17
63
114
8 87
63
123
9 67
64
108
9 00
64
125
9 64
63
116
8.75
54
107
9.60
60
106
9.66
64
111
10 14
69
111
169
167
108
89
71
2,217
174
168
111
93
71
2,323
223
166
149
112
52
2,818
164
137
127
100
40
1,802
133
110
101
86
38
874
128
136
99
99
34
562
139
138
97
71
57
*557
145
158
86
68
61
<692
185
175
112
86
93
4
764
170
183
121
95
107
1, 357
178
183
129
100
125
1, 981
204
304
130
122
114
4, 861
265
85
7, 554
72
* 7. 669
57
3,288
5°
254
4,192
229
3,642
258
4,259
220
3,615
269
4,432
741.9
416.3
250.4
441.9
124.8
66.8
767.0
424.3
264.8
457.3
131.4
67.1
762.9
424.4
259.3
452.3
131.5
67.3
771.6
428.8
264.4
459.1
134.5
67.6
776.9
430.8
267.8
461.4
131.1
67.9
749.5
426. 7
244.0
439.2
127.9
68.1
790.6
432.9
278.3
470.6
132.1
68.4
783.3
435. 4
267.4
458.5
135.4
68.6
796.8
438.8
278.0
475.1
134.5
68.9
791.1
439.7
269 1
458.8
138.3
69.0
786.3
436.2
268. 5
461.8
135.1
69.4
810.6
438.7
285.8
473.5
141.1
69.6
22, 288
19, 982
1,291
22, 587
20, 020
1,689
21, 483
19, 878
797
22,411
20,074
1,770
22, 093
20, 106
598
21, 220
18, 795
455
22, 649
20, 262
971
21, 989
19, 614
1,013
23,011
20, 762
861
22, 366
20, 389
659
21, 259
20,d 854
828
22, 748
20, 996
600
2,914
2,521
58
3,125
2,721
49
3,083
2,406
351
3,186
2, 113
723
3,276
2,582
344
2,893
2,517
69
3,220
2, 594
312
2,883
2, 463
96
3,145
2,581
257
2,902
2,444
161
2, 950
2,623
d
5
3,031
2,534
191
4,412
3,496
744
4,681
3,209
1,258
4,531
3,467
892
4,731
3,711
845
4, 632
3,534
928
4,342
3,361
810
4,821
3,614
1,005
4, 460
3, 536
739
4, 808
3,699
919
4 719
3,734
801
4 607
3,697
726
4,684
3,743
761
280
4,488
4
4
2770
2 12, 873
4
2
149
4
2707
11,694
COMMUNICATIONS
Telephone carriers :
740.7
Operating revenues 9
mil. $
696.5
414.4
392.6
Station revenues
do
252.0
236.5
Tolls, message
do „
441.4
Operating expenses (before taxes)
d o _ _ _ _ 418.3
126. 6
116.6
Net operating income
do
67.6
Phones in service, end of year or mo_
mil
65.0
Telegraph, cable, and radiotelegraph carriers:
Wire-telegraph:
Operating revenues
, „_ _ _ thous. $ _ 21, 864 22, 144
19, 495 20, 004
Operating expenses, incl. depreciation
do
1,029
1,300
Net operating revenues
do
Ocean-cable:
3,023
3,014
Operating revenues
.do
2,452
Operating expenses, incl. depreciation ._. do__ _ 2,470
240
Net operating revenues
_do-___
225
Radiotelegraph:
4,471
4,224
Operating revenues
_ _ do
3,443
3,324
Operating expenses, incl. depreciation
do
866
747
Net operating revenues
do
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production: J
Acetylene
mil. cu.ft..
Ammonia, synthetic anhydrous (commercial)
thous. sh. tons..
Carbon dioxide, liquid, gas, and solid
do
Chlorine gas .
_ - - do
968
839
1,101
1,115
1, 135
989
1,061
1,159
1,102
1,133
1,066
1, 105
432.9
76.0
383.6
399.6
85.2
349.8
425.5
78.8
409.5
435.4
69.3
411.4
449.1
65.8
420.7
416.8
70.2
405.8
429.4
63.3
381.9
494.8
73.5
437.5
508.3
75.4
423.1
510.7
96.9
432.8
496.0
100.6
427. 5
471.1
105. 7
438.9
70.6
83.0
86.9
80.8
77.0
Hydrochloric acid (100% HC1)
_ _ do _
283.9
297.5
298.8
281.5
276.3
Nitric acid (100% HNOs)
do
7,173
6, 555
7,626
7, 667
4,832
Oxygen (high purity)
mil cu ft
175.7
195.6
184.9
187.1
Phosphoric acid (100% P^Os)
thous. sh. tons.. 175. 8
T
2
3
Revised.
1 Based on unadjusted data.
Quarterly total.
Quarterly average.
<Effective Jan. 1962, data reflect redefinition of visits to one park: Jan. 1962 (new basis),
62,600 visits; Jan. 1961 (old basis), 18,600 visits. d « Beginning Feb. 1962, data include quantities for 14 plants not previously reporting.
Deficit.
c^Data for Sept. and Dec. 1961 and Mar., June, and Sept. 1962 cover 5 weeks.
tRevised
effective
with
the
Dec.
1961
SURVEY
to incorporate the 1957-59 comparison
85.6
306.2
8,060
183.7
1,012
401.5
74 8
386.4
1, OS9
1,128
464. 2
' 107. 8
441.1
468.3
92.2
428.2
r
91.0
90.4 r 89. 6
89.3
277.9
278.0
299.7
303. 7
7,782
7,433 r 8, 103
8,129
177.5
188.4
195.5
195.0
base period, as well as new weights and seasonal factors. Monthly indexes for total loadings
(1919-60) appear in the Dec. 1961 Fed. Res. Bulletin; indexes for separate classes prior to Oct
1960 are available from the Board of Governors, Fed. Res., Wash. 25, D.C.
9 Includes data not shown separately.
JScattered revisions for 1959, 1960, and Jan.July 1961 are available upon request.
79.0
296. 5
7,360
202.0
5
78.9
289.8
8, 255
185.6
89.9
300.9
9,161
212.2
89.1
292. 3
8,577
209.4
89.1
305.9
8,083
232. 5
SUEVEY OF CURRENT BUSINESS
November 11)62
1960
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1961
Monthly
average
S-25
1961
Sept.
Oct.
1962
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
400.4
10.8
459.9
368.3
10.8
467.1
390.4
9.6
469.7
378.4
9.5
451. 2
36.8
44.8
42.6
Oct.
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS— Continued
Inorganic chemicals, production^— Continued
Sodium carbonate (soda ash), synthetic (58%
NajO)
thous sh. tons
379.8
376.4
Sodium bichromate and chromate
_ do
10.2
10.1
Sodium hydroxide (100% NaOH)
do___
408.2
414.3
Sodium silicate (soluble silicate glass), anhydrous
thous. sh. tons__
41.4
43.9
Sodium sulfates (anhydrous, refined; Glauber's
89.4
95.3
salt: crude salt cake):
thous. sh. tons__
Sulfuric acid (100% IIjSO*)
- do _. 1,490.3 1,487.3
Organic chemicals :&
Acetic acid (synthetic and natural), production
mil. lb__
Acetic anhydride, production
do _
Acetylsalicylic acid (aspirin) , production- _do_ __
Alcohol, ethyl:
Production
Stocks, end of month
Used for denaturation
Taxable withdrawals
mil proof gal
do
do
do
Alcohol, denatured:
Production
Consumption (withdrawals)
Stocks end of month
mil. wine gal_.
do
do
388.9
10.6
442.4
382.4
10.8
423.1
368.6
10.2
403.2
400.7
11.0
466.3
394.1
11.5
454.9
404.1
11.1
464.3
43.5
40.6
46.5
47.8
51.6
55.1
42.7
102.3
108.0
106.2
97.7
106.5
113.7
1,597.3 1.640.4 1, 535. 6 1, 725. 6 1,675.9 1, 692. 3
94.2
1,502.3
408.1
11.6
443.8
410.2
10.5
433.7
43.0
54.6
58.9
97.6
1,390.7
97.4
1,543.5
105.2
1,556.9
65.3
105.0
1. 9
65.0
105.0
2.0
76.8
104.7
2.4
74.0
106.1
2.1
76.8
117.3
2.3
83.7
96.5
2.0
72.5
93.5
2.3
75.0
106.4
2.5
75.2
102.2
2.1
85.6
105.0
2.4
79.4
107.4
2.0
77.2
101.5
1.8
86.1
103.9
2.3
1
54. 2 '52.2
130.3 ' 139. 0
45.2
43.2
5.1
15.3
53.4
140.9
37.6
5.5
66.3
136.9
44.7
7.3
56.4
138.8
42.5
6.0
55.3
141.1
43.7
4.2
53.7
145.9
43.9
4.3
47.8
148.7
42.7
4.5
53.3
147.7
45.6
5.4
52.1
153.1
40.8
4.8
50.3
151.4
44.6
5.5
50.4
154.1
42.7
5.4
49.3
158.1
39.1
4.4
45.5
157. 6
41.5
5.1
63.7
91.3
2.0
1
369.1
9.9
370.0
100.6
95.9
1,438.4 1, 499. 9 1, 467. 2
108.8
2.1
24.2
24.3
4.4
23.4
23.4
6.2
20.3
19.0
6.4
24.0
24.9
5.4
23.5
23.0
5.9
23.5
24.2
5.2
23.7
23.6
5.4
23.0
23.4
5.0
24.5
23.9
5.6
21.7
21.4
5.7
24.0
24.8
5.0
22.9
23.9
4.1
21.1
21.3
3.8
22.4
24.0
2.2
7.7
13.7
8.9
7.3
14.3
8.5
8.1
13.7
7.7
6.8
13.6
12.0
7.4
13.0
12.8
6.4
12.9
7.3
6.1
10.3
9.6
8.1
13.2
3.9
5.1
13.9
9.8
8.6
12.1
7.3
8.0
14.5
7.9
7.7
13.4
12.4
7.2
16.1
5.2
8.1
15.7
9.0
7.8
14.0
6.6
108.1
Ethylene glycol production
do
Formaldehyde (37% ECHO), production ..do... . 156.0
Glycerin, refined, all grades:
24.2
Production
do _
27.4
Stocks end of month
_ _ do _
Methanol , production:
.2
Natural
- mil. gal._
24.7
Synthetic
do
33.4
Phthalic anhydride production
mil. lb_-
98.6
146.0
87.7
155.5
97.5
165. 1
95.2
162.4
97.3
156.6
91.3
155. 8
80.8
157. 2
87.9
163.5
88.8
165.3
98.4
172.2
103.6
164.1
119.1
150.2
122.0
169.0
106.4
166.9
22 4
34.3
18.0
32.6
23.0
30.7
24.6
34.0
24.0
38.4
20.9
35.2
21.0
36.4
21.2
35.2
21. 2
36.1
18.8
33.7
21.1
35.4
17.8
32.3
21.1
30.8
17.6
27.2
.1
25 6
31.7
.1
22.8
31.6
.1
28.1
30.0
.1
28.5
28.0
.1
27.7
30.9
.1
26.4
28.7
.1
25. 5
25.6
.1
29.0
30.2
.1
27.9
33.7
.1
28.0
31.5
.1
26.5
33.3
.1
29.8
33.6
.7
28.3
33.2
28.7
35.1
562
43
436
68
539
31
429
65
523
18
428
70
548
34
452
52
540
62
411
57
605
47
440
100
680
71
511
89
541
114
347
76
486
52
352
74
684
128
464
76
635
98
406
58
543
563
10
428
99
699
60
547
82
653
51
504
66
do
do
do
do
_ _ _ _ _ _ do __
207
105
30
12
36
227
123
41
13
36
203
124
35
5
33
260
138
35
15
54
216
106
32
9
57
156
87
26
12
14
261
128
50
15
70
259
131
37
12
73
306
157
28
18
57
397
230
69
24
59
287
186
55
14
10
194
128
50
13
10
229
133
33
24
22
199
84
20
19
49
232
84
22
23
71
Potash deliveries (KjO)
do
Superphosphate and other phosphatic fertilizers
(100% P2O5).1
Production
thous sh tons
Stocks end of month
do
181
173
124
211
104
159
302
117
232
365
258
60
123
226
142
223
346
228
415
219
435
240
447
236
480
230
519
238
527
220
509
249
446
248
302
255
253
204
316
170
382
'202
'416
207
422
128
82, 026
127
82, 424
106
93, 769
198
94, 844
177
85, 296
144
79, 679
114
75,118
72
76, 616
53
81,058
147. 0
85.3
61.7
145. 8
486.5
459.3
153.4
90.9
62.5
149.0
85.7
63.3
133. 6
73.8
59.8
109.7
58.4
51.3
129.2
69.9
59.3
123.9
69.9
54.0
151.2
85.0
66.2
166.6
100.7
65.9
186. 1
112.3
73.8
177.8
107.3
70.5
163. 5
103. 3
60.2
177. 6
111.3
66.3
476
3,826
519
4,098
484
4,253
528
4, 255
519
4,307
550
4,814
516
4, 863
476
4,890
491
4,830
446
4,779
474
4,761
467
4, 751
473
4,777
514
4,818
6.3
7. 7 1 12.8
.1
12.3
15.6
13.2
14.2
14.2
11.3
13.0
Creosote oil, production
DDT production
Ethyl acetate (85%) production
mil. gal_
mil Ib
do
FERTILIZERS
Exports total 9
Nitrogenous materials
Phosphate materials
Potash materials
do
do
do
do
Imports total 9
Nitrogenous materials total 9
Nitrate of soda
Phosphate materials
Potash materials
_
444
47
2
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments:
Black blasting powder
thous Ib
High explosives
do
Paints, varnish, and lacquer, factory shipments: K
Total shipments
mil $
Trade products
do
Industrial
finishes
do
Sulfur, native (Frasch) and recovered :f
Production
thous lg tons
62
35
83
91, 583 101, 886 100, 792
3
3379
300,657
152. 7
92.5
60.2
::::::::
SYNTHETIC PLASTICS AND RESIN
MATERIALS
Production:©
Cellulose acetate and mixed ester plastics:
Sheets rods and tubes
mil. Ib
Nitrocellulose sheets, rods, and tubes
do
4.2
7.6
.1
4.8
7.5
.1
5.4
8.5
.1
5.4
8.6
.1
5.2
8.6
.1
Polystyrene
Urea and melamine resins
do
do
49.3
82.1
29.8
••51.0
'88.8
'33.0
52.6
89.7
33.0
57.2
98.1
37.6
54.6
92.7
36.0
52.5
95.9
32.2
£58.0
599.9
539.2
53.2
92.8
38.9
59.8
105.6
40.1
53.8
105.5
38.8
61.1
113.2
41.9
59.6
107.3
41.5
48.9
'94.7
33.2
60.1
102.3
40.7
101.5
34.4
11.6
116.8
37.2
10.3
110. 9
34.4
12.5
108.5
31.0
9.3
113.3
37.0
113.9
35.4
131.3
43.6
122.4
42.8
130.6
47.0
131.1
46.1
r 116. 3
do
do
100.2
46.4
11.8
r 105. 0
Allr rl
"R
n
'40.2
131.9
44.3
Polyester resins
do
Polyethylene resins
do
Miscellaneous (incl. protective coatings) _ _ _ do
15.8
111.3
30.4
12.8
121.8
37.4
15.2
146.2
43.8
15.5
148.4
43.4
13.3
153.2
41.8
15.9
150. 6
15.5
156.9
17.9
167.0
18.7
166.7
20.2
170.9
18.6
170.6
13.8
172.7
18.3
170.8
"~ ' ' " " ™
ndifi firms
'45.1
'12.3
'16.1
r 133. 9
Ml. 5
2
' Revised.
1 Average for July-Dec.
Beginning July 1962, excludes ammonium
4
phosphate formerly included.
3 Data are for July-Sept, quarter.
Beginning Jan. 1961,
trade sales of5 lacquers (formerly shown with industrial finishes) are included under trade
products.
Beginning Jan. 1962, data include protective coatings (formerly excluded),
amounts of these for Jan. 1962 are as follows (mil. Ib.): Phenolic, 2.5 (incl. some rosin modifications no longer shown separately); polystyrene, 6.0; urea, etc., 3.8.
JSee similar note on p. S-24.
cf Data (except for alcohol) are reported on the basis of
100% content of the specified material unless otherwise indicated.
9 Includes data not shown separately. ^Revisions for 1960-Apr. 1961 for superphosphate
and for Jan.-Mar. 1961 for paints, etc., will be shown later.
tRevised effective with the Jan. 1962 SURVEY to include recovered sulfur.
©Beginning July 1961, data are not strictly comparable with those for earlier periods
because of the inclusion of companies formerly not reporting; monthly averages are based on
reported annual totals.
SURVEY OF CURRENT BUSINESS
S-26
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
Monthly
average
November 19(
1961
Sept.
Oct.
1962
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total 0
mil. kw.-hr__
Electric utilities total
do
By fuels
_ _
do
By waterpower
do
Privately and municipally owned util
Other producers (publicly owned)
Industrial establishments, total
By fuels
. __ .
By waterpower
70, 135
62, 779
50, 653
12, 126
73,211
65, 998
53, 348
12, 650
74, 466
67, 297
55, 366
11 931
74, 471
66 848
55, 373
11 475
74, 222
66 669
54, 806
11 863
78, 419
70 878
57, 147
13 731
80, 913
73 123
58, 823
14 301
72, 047
64 777
51, 435
13 342
78, 646
70, 719
54,562
16,157
73, 528
65, 873
49, 873
16, 001
78, 071
70, 241
55, 020
15 221
77, 819
70, 164
56, 397
13, 767
80, 322
72, 933
59, 479
13, 453
84, 093
76 439
63, 226
13 213
77. 018
69, 680
57, 695
11 985
51, 294
do
do - - 11, 486
53, 624
12, 374
54, 849
12, 449
54, 408
12 441
54, 080
12, 590
57, 407
13, 471
59, 437
13 687
52, 733
12 044
56, 725
13, 994
53, 103
12, 770
57, 053
13, 188
57, 260
12,904
59, 281
13, 651
62, 424
14,015
56, 774
12, 906
7,356
7,055
301
7,213
6,932
281
7,169
6,946
223
7,623
7,377
246
7 552
7,285
7,541
7,246
295
7,790
7,479
311
7 270
6,982
?88
7,927
7,604
323
7,654
7,318
336
7,829
7,507
322
7, 655
7,373
282
7,390
7, 143
247
7 654
7,405
7 338
7, 106
267
56, 933 160,061
63, 138
61, 309
60, 306
62, 293
65, 428
63, 520
64, 151
62, 143
62, 216
64, 056
65, 184
67, 269
1
11,239
1
12, 936
30, 175
11 804
30 197
11 234
29 563
11,270
29 627
11,276
30, 156
11, 111
29, 230
11,214
30, 736
10 958
30, 384
11, 273
31, 443
12, 475
31, 527
13 102
31 197
13 418
32, 285
391
363
17,006
540
1,489
103
do _ _
do
do
Sales to ultimate customers, total (EEI)§
do
Commercial and industrial:
Small light and power
do
Large light and power
- - -do
Railways and railroads
Residential or domestic
Street and highway lighting
Other public authorities
Interdepartmental
--
do
do
-do
do
do
9,567
28,733
28,952
398
390
16, 367
17, 418
510
564
356
17, 566
556
443
455
16 796
16 913
18 712
21 213
1,395
1,432
1,437
368
607
385
649
682
741
425
433
20 495
19, 616
1,529
1,461
620
620
18 308
574
355
17 513
515
55
1,370
2128
1,396
959.6
1,014.1
1,065.6
2,374
2,218
2,071
1.937
155
133
2,014
1,887
126
2,062
1.930
131
2,073
1,940
133
2, 056
1,924
568
403
162
563
401
158
273
150
122
520
364
152
964
748
208
484
324
158
74.4
57.2
16.9
70.7
54.4
15.9
37.0
25.5
11.4
65.3
49.8
15. 1
114.0
91.5
21.8
60.9
45.7
15 0
thous-- 30, 554
do -- 28, 087
do_ -- 2,430
31,661
29, 093
2, 533
31, 424
28, 933
2,456
32, 294
29, 636
2,621
32, 301
29,634
2,630
32, 199
29 606
2, 556
mil. therms- 22,636
7,558
do
_ _ _ __do_ — 13, 907
23, 397
7,894
14, 272
16, 850
2 672
13, 129
23, 976
7, 781
14, 858
33, 534
15, 705
16,358
Revenue from sales to consumers, total 9 mil. $_ 1,326.6
734.9
Residential
do
553.8
Industrial and commercial
__do
1,424.7
787.8
595. 1
875. 6
357. 3
484.5
1,454.7
784.8
625.1
2,266.1
1,432.7
783.5
Revenue from sales to ultimate customers (Edison
Electric Institute) §
-..
mil. $._
1,304
153
140
1,033 4
130
122
1,468
120
109
71
1,443
84
1,564
106
249
350
360
18 364
18 978
1,528
1,535
524
119
233
566
128
1 013 9 1,043.4 1,091.7 1,073.6 1, 071. 7 1,041.6 1, 040. 5 1,079.7 1, 102 6 1 , 125 9
GAS
Manufactured and mixed gas (quarterly) :fc?
Customers
end of quarter total 9
thous-Recidential
do
Industrial and commercial
do
Sales to consumers total?
Residential
Industrial and commercial
mil therms- - do -_ __ _
_do._--
Revenue from sales to consumers, total 9
Residential
_
Indus trial and commercial
Natural gas (quarterly) :Jcf
Customers, end of quarter, total 9
Residential
Industrial and commercial
Sales to consumers, total 9
Residential
Industrial and commercial
mil. $_.
do__-do
131
22, 557
6 852
14 649
C
1, 362. 6
720 7
606.3
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
7.78
Production
mil bbl
Taxable withdrawals .
__do
7.33
Stocks, end of month
_ _
do
10.37
Distilled spirits (total):
3 13 27
Production
mil. tax gal
Consumption, apparent, for beverage purposes
mil. wine gal-- 19.56
Taxable withdrawals
. ___mil. tax gal-- 3 9.90
Stocks, e n d o f month
_ _ _ _ _
d o _ s 835. 02
3.10
Imports
mil proof gal
Whisky:
Production
mil. tax gal-- 12.41
6.84
Taxable withdrawals
_ _
do
Stocks, end of month
_ _ __do _ 806. 44
2.75
Imports
mil. proof gal-
27.57
6.52
6.60
9.87
6.43
6.48
9.42
6.99
6.13
9.86
6.42
5.75
10.16
8.30
7.33
10.66
8.35
7. 46
11.07
13.12
19 25
19.53
16.43
15.88
15 32
15.41
18.80
10.52
859. 43
3.74
22.58
14.34
864. 32
4.69
25.35
12.41
868. 39
5.35
28. 32
8.08
874. 59
3 82
16.91
8.58
879. 71
2.75
17.07
8.65
883. 95
2. 76
9.35
7.56
837. 07
3.30
13.92
10.93
840. 54
4. 12
15.73
9.39
844. 23
4.75
13.58
5.79
850. 13
3 35
13.43
6.02
855. 92
2.46
12. 76
6 35
7.55
5.83
10.48
8 21
8.74
6.71
6.02
4 49
7.40
7.62
10.47
15.06
20.12
10.04
859. 63
3.26
11.85
7.08
835. 99
2 87
Rectified spirits and wines, production, total
mil. proof gal_ _
6.97
7.05
5.39
5. 32
Whisky
do ._
Wines and distilling materials:
Effervescent wines:
.33
.34
Production
mil. wine gal-Taxable withdrawals
do ..
.28
.31
2.64
Stocks, end of month
do
2.45
Imports
_
do
.08
08
Still wines:
Production
do__ - 13.82 4 14. 00
Taxable withdrawals
do _ _ 12. 44 4 12. 98
Stocks, end of month
do
176. 11 175. 86
.82
Imports
_ -do
93
Distilling materials produced at wineries. __ do
7.33
6.99
10.37
7.92
7.42
10.61
27.61
.25
.31
.26
.47
15.94
12 69
6 43
8 34
20.40
10.66
890. 08
2.92
18. 67
8.29
886 81
2 90
20.41
9.82
882 86
3 28
4 06
8GO. 19
2.41
12.10
7.30
862. 66
2.71
10.28
6.44
862. 36
2.70
12. 13
7.03
867. 51
3.09
8.83
6 54
867. 55
2 55
3.42
5 02
864 49
2 57
5.32
6 58
861 04
2 88
3 58
5.88
4.08
5.87
4 49
7.38
5.59
6.21
4 48
7.54
5 44
7.21
5 27
5.62
4 12
6.78
4 83
.33
.27
.42
.25
2.67
06
.35
.22
2.76
07
.49
.30
2.93
08
.46
.26
3.10
05
.16
19
3.06
06
.37
25
3.15
06
no
2 67
1 67
11.93
11 72
150. 96 141. 87
1 31
88
1 07
9 16
131. 76
78
6 15
12 28
123. 99
92
1 01
2.23
08
05
.50
.20
2.51
05
50.26
13.14
163. 92
1 00
81.81
16.28
230. 55
1.20
10.45
14.47
220. 13
1.38
4.60
13.53
209. 50
1 00
3.28
12.22
194.33
1 00
2.70
11.11
187. 44
88
112.99
143. 95
35.56
11.92
12
9 06
9 18
10 80
21.14
10.86
890. 66
3.55
2.20
r
c
Revised.
Corrected.
1 Revisions for 1961: Jan.—total, 59,894; large light, etc., 27,730; revenue, 1,016.9. Maysmall
light, etc., 10,423; large light, etc., 29,034.
2
Beginning Mar. 1961, data include sales not previously reported.
3 Average for July-Dec. * Based on annual total containing revisions not allocated by
months.
.38
.49
9 90
9.22
11 49
13 16
2.35
. 17
.55
9.96
9.19
11.39
18.62
20.63
10.41
9.38
886. 45 885.90
3.07
3.07
2.61
. 13
2.87
9.76
9.06
11.20
4.08
2.53
2.15
14.33
12.10
172. 67 164.41
1 03
1 06
1.43
1.70
1.58
2.56
1.47
19.66
©Revisions for Jan .-Nov. 1960 are available upon request.
§ Includes data for Alaska and Hawaii.
I Revised data for 1st and 2d qtr. of 1961 will be shown later. Data for manufactured and
mixed gas include Hawaii beginning 1960; for natural gas, Alaska beginning 1961.
cfThe 1960 and 1961 averages shown for gas are quarterly averages.
9 Includes data not shown separately.
9.68
SURVEY OF CURRENT BUSINESS
November 1962
1960
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
| 1961
S-27
1962
1961
Monthly
average
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
92.4
423 5
.596
380 9
.587
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS
Butter, creamery:
Production (factory) J
Stocks cold storage, end of month
Price, wholesale, 92-score (N.Y.)
Cheese:
Production (factory), totalj
American, whole milkj
mil. Ib.
do
.$ per lb__
114.4
106.5
.599
123. 7
181.5
.612
94 8
238 4
.614
110 1
230 7
.613
109 9
223 7
.611
126 1
224 8
.611
144 2
239 0
.610
133.0
260 0
.610
150 3
303 1
.609
147.5
345 4
.586
166 7
386 9
.586
152.6
429 4
.584
122 A
469 0
.588
mil. Ib
do ___
123.2
83.0
135. 9
95.4
119 3
84.0
120 3
80.3
111 1
71 6
120 6
77 1
117 2
77 6
111 4
74 1
127 1
85 6
139 1
98.6
167 5
126 4
168 0
126.5
145 5
107.3
316.8 429.8
Stocks, cold storage, end of month, total
do
277.3 379.5
American, whole milk
do
5.3
6. 3
Imports
do
Price, wholesale, American, single daisies (Chi.414
.409
cago)
_
_
_.
$perlb
Condensed and evaporated milk:
Production, case goods:t
5.7
5.8
Condensed (sweetened)
mil. Ib
181.4 176.5
Evaporated (unsweetened)
do
Stocks, manufacturers', case goods, end of mo.:
5.5
6.0
Condensed (sweetened)__
mil. lb__
Evaporated (unsweetened)
_
___do_ __ 235.9 243.6
Exports:
3.5
3.9
Condensed (sweetened)
.
do _
8.4
7.6
Evaporated (unsweetened).
do__
Price, manufacturers' average selling:
6.34
6.30
Evaporated (unsweetened)
$ per case
Fluid milk:
10, 234 10, 455
Production on farms
__
mil. Ib
3,969
4,267
Utilization in mfd. dairy productsc" --- -- do
4.21
4.22
Price, wholesale, U.S. average
$ per 100 lb__
Dry milk:
Production :t
8.2
6.8
Dry whole milk
mil. Ib
151.6
167.8
Nonfat dry milk (human food)
do
Stocks, manufacturers', end of month:
6.4
6.4
Dry whole milk
do
121.5
136.6
Nonfat dry milk (human food)
do
Exports:
2.3
Dry whole milk
__
do
1.5
16.6
21.0
Nonfat dry milk (human food). __ .. do
Price, manufacturers' average selling, nonfat dry
.137
.154
milk (human food) __
__
$perlb
GRAIN AND GRAIN PRODUCTS
78.0
90.5
Exports (barley, corn, oats, rye, wheat) _ . .mil. bti__
501.2
442 2
6.0
490.5
432 6
6 0
470.6
421 5
81
472.9
419 9
6 9
456. 8
405 9
5 9
432. 8
382 8
5 9
417.2
367 8
6 0
441.0
390 8
6 4
460.1
416 2
7 8
495.4
452 9
61
526. 6
483 8
4 5
.413
415
414
410
410
410
402
394
392
392
392
392
392
5 3
157 4
60
138 1
52
117 2
5 4
125 6
59
117 7
5 6
118 2
4 4
149 4
5 2
177 3
83
225 5
6 8
°15 0
79
188 5
6 7
171 5
59
140 3
6.8
5 4
282. 6
5 6
225.1
4 6
162 6
4 0
106 3
4 3
66.1
6 2
96.9
6 2
162 4
37
218 6
4 3
256 9
4 8
271 3
56
962 7
4 4
37
39
2 6
30
5 6
39
10 9
4 2
4 6
4
2 4
4 7
2 5
59
6 3
4 0
5 4
4 1
6 1
2 C
2 6
Barley:
Production (crop estimate)—
do
1431.3
6.7
Stocks (domestic), end of quarter, total
mil. bu_. 3 3, 090 3 3, 246
31,709 3 1 , 784
On farms__ __
do
3
O f f farms.
_ _ _ _ _
_
do
1,381 3 1, 463
18.6
24.5
Exports, including meal and
flour
do
Prices, wholesale:
No. 3, yellow (Chicago)
$ per bu__
1.13
1.11
1.07
1.06
Weighted avg., 5 markets, all grades-- _.do__
Stocks (domestic) , end of quarter, total
On farms
_
Off farms
do
do
do
Exports, including oatmeal
Price, wholesale, No. 3, white (Chicago)
Rice:
Production (crop estimate).California mills:
Receipts, domestic, rough
1
3.4
4.5
2.7
5. 1
6.29
6 29
6 29
6 29
6 29
6 28
6 16
6 07
6 03
6 02
6 03
6 05
9 219
3 625
4.55
9 772
4 064
4.45
10 118
4 415
4.39
9 629
4 109
4.29
11 101
4 684
4.16
11 340
4,809
3.88
12 533
5 609
3.76
12 003
5 275
3.71
10 977
4 349
3.86
10 244
3 797
4.03
9 683
3 370
M.22
5.5
119.1
7.7
134.9
7 6
136 3
7 3
169 4
8 0
184 5
56
177 4
6 4
203 8
7 5
214 3
9 7
253 0
7 7
236 5
4 7
182 1
5 ri
148 4
1 97 ^i
5. 7
134.8
5 5
127.8
6 0
116 9
7 3
132 5
8 2
126 7
7 7
131 0
6 1
128 4
6 6
128 3
7 4
155 7
7 7
168 7
7 6
149 1
61
118 0
1.3
1. 1
19.0
6
6
4
21 5
18 7
40 5
15
18 9
10
25 2
2 2
31 6
6
29 9
1 i
12 3
g
28.1
•>o o
19
20 9
.159
.161
160
162
162
161
161
147
149
142
142
142
81.4
99.6
104.1
100.5
85.1
116.0
103.6
101.3
128.3
110.9
86.2
90.3
9 771
p 4. 35
60
1. 43
07
Q
2 430 8
4
4
r4
4.2
3.3
60
333.7
179.4
154. 3
53
53
9 9
4 7
5 3
6. 6
1.47
1.40
1.48
1 42
1.46
1 40
1.43
1 37
1.47
1 42
1.41
1 35
1.39
1 33
1.34
1 28
1.26
1 21
1.22
1.19
1 18
1 14.
1.16
1.13
1.07
13.4
14.1
13.6
11.9
13.2
12.7
14.7
14.9
14.8
14.8
14.2
15.7
13.9
35.6
43.3
3,386
2 149
l' 236
37.3
36.3
42.1
39.4
33.4
32~8
22.9
1.08
1 04
1.07
1 01
1.11
1 06
1.12
1 08
1.15
1 11
1.14
1 11
1.12
1 10
1.10
1 07
1.11
2,4 008
580
1, 428
24.5
23.8
32.3
4, 495
3 022
1 473
34.3
1.10
1.06
1.09
1.06
1.10
1 09
1.08
1 08
775
695
80
3
215.
98
117
8
7
0
8
5
9 2
123. 0
r 4 47 2
r4
75 8
10 2
16 5
448 0
r 2, 474
i ^1
1.20
2 3, 590
15.3
1 613
537
r 904
1,155 i 1,013
3
3
455.5
422 1
' 520. 5 r 493. 1
r 481 8 r 457 i
5 1
5 8
9,672
3,759
4.47
1.10
i in
2
3657
3 576
381
972
859
113
do
2.9
1.7
4 2
1 6
1 0
$perbu__
5.71
s.67
.68
.67
.71
..mil. bags 9 _ _
i 54.6
153.6
mil. lb__
100
62
110
71
78
68
191
69
100
95
- __
__ _ _
2
2
495
432
63
2
.70
.65
.70
169
78
182
109
229
172
(6)
r 4
4 -)OQ
4 4§
2
4 £
.72
.73
6
1 0>;>8
974
277
109
4
.69
.65
.64
.67
.65
2 63 ^
167
110
121
110
100
68
73
80
74
37
68
53
57
43
100
104
80
185
102
126
133
107
119
92
90
56
67
45
35
338
231
317
209
769
154
1,565
240
486
253
242
285
169
264
228
9
96
100
282
54
222
25
212
30
1 87
22
437
1,267
845
163
.081
826
148
5.086
620
51
.084
1,411
98
.089
1,485
139
.090
1,378
255
.093
1,237
1,102
550
391
.098
905
900
.098
732
.095
.098
.098
.098
208
145
.096
321
86
.088
885
133
p. 088
1.31
1.29
14.6
1.25
1.25
1.21
*7.9
1.24
1.16
1.14
31.8
1.17
Rye:
Production (crop estimate)
.mil. bu._ 133.1 127.3
Stocks (domestic), end of quarter, total
do
321.6
320.9
29.7
Price, wholesale, No. 2 (Minneapolis) $ per bu__
1. 13 5 1. 20
1.24
1.30
1.32
Revised.
v Preliminary.
1
2
Crop estimate for the year.
Nov. 1 estimate of the 1962 crop. 3 Quarterly average.
4
Old crop only; new crop not reported until beginning of new crop year (July for barley,
oats, rye, and wheat; Oct. for corn).
» Average based on months for which quotations are
available.
« No quotation.
118 9
82.7
6.29
672
595
377
Stocks, rough and cleaned (cleaned basis), end
of month
mil. lb__
Southern States mills (Ark., La., Tenn., Tex.):
Receipts, rough, from producers
mil. lb__
Shipments from mills, milled rice
_. do
Stocks, domestic, rough and cleaned (cleaned
basis), end of month
mil lb__
Exports
_
__
do
Price, wholesale, Nato, No. 2 (N.O.)
$ per lb__
131.0
93.8
r
9,621
3,456
4.38
433.8
242.5
191.4
Corn:
Production (crop estimate, grain only). .mil. bu._ i 3, 908 i 3, 624
12.8
Grindings, wet process
„ do
13.1
mil. bu
336.2
104.3
456 4
.590
i 393. 4
3311.1 3 291. 8
Stocks (domestic), end of quarter, total
do
3 166. 8 3 154. 0
On farms
do
Off farms _
do._ 3 144. 3 3 137. 8
7.8
5.4
Exports, including malt$
do
Prices, wholesale (Minneapolis):
1.14
1.31
No. 2, malting
$ per bu__
1.06
1.23
No 3 straight
do
Oats:
Production (crop estimate)
364. 5
r
19.3
1.31
o on
I Qf>
9Q"
r
2 38 cj
1. 16
{Revisions for 1960 appear in the Oct. 1961 SURVEY; those for Jan.-May 1961 are available
upon request.
cf Revisions for Jan. 1955-Sept. 1960 are available upon request.
.Excludes a small amount of pearl barley.
9 Bags of 100 Ib.
SURVEY OF CURRENT BUSINESS
rf-28
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
| 19G1
Monthly
average
November 10
1961
Sept.
Oct.
1962
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
June
May
July j Aug.
Sept.
Oe
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
j
GRAIN AND GRAIN PRODUCTS— Con.
Wheat:
Production (crop estimate) total
Spring wheat
Winter wheat
Distribution (Quarterly total)
i 1,357
*247
U.lll
3293
i 1, 235
U58
i 1, 076
3332
331
335
342
339
do
do
do
3 1 , 822
3318
3 1, 504
31,854
3305
31, 549
2, 316
466
1,850
1,982
359
1,623
1 641
211
1 430
4 i 304
4
109
-- do
- do
48.2
42.2
58.2
52.4
48.1
44.5
70.2
64.8
63.2
58.1
60.0
54.6
43.7
36.8
62.4
46.3
57.5
49.2
55. 4
49.2
63.8
57.2
53.3
48. 1
43.3
37.7
46.0
40.6
2.28
2.04
« 1.97
2.25
2.38
2.07
1.94
2.41
2.40
2.08
1.87
2.36
2. 42
2.12
(6)
2.40
2.44
2.14
(6)
2.42
2.46
2.09
1.99
2.37
2.45
2.11
2.05
2.40
2.44
2 12
(6)
2.39
2.46
2.13
(6)
2.41
2.50
2.17
2.43
2.50
2.19
2.12
2. 33
2.52
2.22
2.13
2.32
2.42
2.25
2.07
2.39
21, 693
93.3
405
49, 333
21,112
96. 5
398
48,118
2 3, 063
95.8
431
52,480
22, 933
100.0
430
52, 250
22,014
100.6
413
50,108
23, 515
97.7
440
53, 532
21,738
99.5
405
49, 417
23, 165
95.1
430
52, 606
20, 421
87.8
378
46, 225
21,035
86.4
396
48, 021
20. 125
86.9
375
45, 677
20, 334
88.2
378
46, 130
23, 207
91.9
433
52, 865
21,254
101. 6
396
48, 371
34,703
2,511
4,751
1,536
2,344
2, 1 76
4,973
2, 345
3,012
7,003
4,877
3,647
2,704
2,896
4 290
2,290
2,428
2,334
4,378
2,045
5.520
5.166
5.660
5.333
5. 665
5.317
5. 650
5.300
5. 638
5.267
5. 625
5.267
5. 650
5.267
5. 688
5. 350
5.775
5. 483
5.900
5. 633
5. 938
5. 683
6.113
5.817
417
1,664
1.221
'528
456
1,712
1, 252
720
511
1,817
1,695
1,300
469
1,683
1,329
983
416
1,589
1,070
447
454
1,781
1, 326
368
362
1,468
968
279
461
1,649
1,013
334
383
1,522
1,130
421
398
1, 766
1,134
432
342
1,718
997
270
367
1,765
1,167
259
24.46
23.30
30.17
24.21
22.61
28.50
24.47
22.97
30.50
25. 44
23.03
30. 50
25.84
23. 06
32.00
25.90
22.80
35.50
26.04
23.16
33.50
26. 65
24. 56
35.50
26. 80
25. 11
30.00
25. 62
24.18
29.00
24.91
23.23
28.00
26. 12
27.88
29.63
23.75
23.91
25.21
27.00 * 27. .50 p 27. 50
5, 469
1,586
5, 240
1,451
6,223
1,802
6.327
1,830
5, 738
1,623
6. 098
1, 838
5, 312
1,498
6, 225
1,623
5, 672
1,680
5. 800
1,722
5. 041
1,498
4.699
1,424
5, 214
1, 507
4.737
1,280 "i~91'
16. 71
17. 69
16.79
15.94
16. 32
16. 66
16.24
15.97
15. 66
15.25
16.23
17.24
17.68
18.46
16. 6'
16. 6
16.8
16. 3
16.7
17.0
17.4
17.1
16.5
15.6
14.9
15.6
16 °
17.1
17.5
16.
1,253
553
253
1, 286
689
630
1,412
557
1,213
551
224
1,124
429
127
1, 375
577
205
1,177
441
127
1,227
445
131
1. 173
467
100
1,197
527
189
1,062
411
183
1,170
470
151
1,254
528
293
1. 272
589
425
67<
17.07
14.99
16.62
14,66
16. 25
14.20
16.00
13.95
16.25
13.72
16.88
13.72
17. 50
14. 85
17.38
15.38
17.62
15.30
21.75
(6)
23. 50
« 16. 00
21.75
» 16. 00
20.50
19. 50
° 16. 40 « 16. 56
19. 0<
15. 7(
2,066
2,116
2, 063
2,314
2,269
2,120
2,312
1, 953
2,233
2,068
2,261
2,087
2,025
2,135
1,895
525
87
63
460
77
80
381
62
80
397
93
89
486
114
97
485
58
78
482
74
99
497
71
72
552
73
136
579
82
91
585
86
80
512
119
98
444
81
99
MOO
71
145
^359
75
130
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
2.21
$ per bu_.
2.02
No 2 hard winter (Kansas City)
do
5 1.95
No' 2 red winter (St Louis) _
do_.
2.17
Weighted avg 6 markets all grades
do
Wheat flour:
Production:
Flour
thous. sacks (100 lb.)_. 21,262
92.4
Operations percent of capacity
402
Offal
1-thous. sh tons .
Grindings of wheat
thous. bu._ 48, 560
Stocks held by mills, end of quarter
3
thous. sacks (1001b.)__ 4, 443
2,613
Exports
-_
do
Prices, wholesale:
Spring, standard patents (Minneapolis)
$per!001b_. 5.322
4.992
Winter, hard, 95% patents (Kans. City)..do
4 1 9Q9
C6)
r
i
flour
i
Exports total Including
Wheat only
"331
2,069
414
1 655
t
Stocks (domestic) end of Quarter total
On farms
Off farms
O CM 0 0
mil bu
do
do
do
49.1
44.4
2.44
2.23
(6^
2.45
2.^
2.1
(6)
2.-
' 6. 175 "6.110
' 5. 933 P 5. 849
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected) :
438
Calves
thous. animals..
1,616
Cattle
do
"Receipts (salable) at 25 public marketst
do
506
Shipments, feeder, to 8 corn-belt States
do
Prices, wholesale:
25.93
Beef steers (Chicago)
$ per 100 Ib
22.93
Steers, stocker and feeder (Kansas City). .do
Calves, vealers (Natl. Stockyards, Ill.).--do — 28.46
Hogs:
Slaughter (federally inspected). ..thous. animals.. 5, 513
Receipts (salable) at 25 public marketst
do.._Prices:
Wholesale, average, all grades (Chicago)
$per!001b__ 15.50
Hog-corn price ratio (bu. of corn equal in value
15.3
to 100 Ib live hog)
Sheep and lambs:
Slaughter (fedfrallv inspected).. .thous. animals. . 1,170
"Receipts (salable) at 25 public markets!
do.___
"""291"
Shipments, feeder, to 8 corn-belt States
do
Prices, wholesale:
19.26
Lambs average (Chicago)
$ per 100 Ib
18.26
Lambs, feeder, good and choice (Omaha) .do
r 714
434
1,870
1,288
592
424
1, 654
1,152
893
1,60
29.2
25.3
MEATS
Total meats:
Production (carcass weight, leaf lard in), inspected
slaiiehter
mil Ib
Stocks (excluding lard), cold storage, end of
month
__
. mil. lbExports (including lard)
__
do ...
Imports (excluding lard)
._ - do
401
Beef and veal:
1,005.4 1,051.0 1,072.1 1,136.1 1,049.3
927.6 1, 038. 7
960.5 1,110.1 1,075.3 1,081.4 1, 120. 8
999. 3 1,117.4
Production inspected slaughter
do
988.3
173.4
175.5
178.8
182. 7
170.9
193. 6
212.2
211.4
177.6
180.6
148.7
Stocks, cold storage, end of month
do _
129.6
128.1 ' 143. 1 '150.9
162. 6
2.4
2.8
2.5
2.4
2 4
1.9
2.0
2.6
2.1
1.9
2.4
'2.3
Exports
do
2.6
1.9
2.3
40.9
55.4
57.7
63.2
69.9
61.4
49.3
64.8
97.4
52.7
51.4
113.3
69.1
Imports
_ ..do ..
73.2
103.6
Price, wholesale, beef, fresh, steer carcasses, choice
.451
.427
.419
.410
.452
.428
.450
.449
.455
.444
.441
.440
.502
(600-700 Ibs.) (New York)
$perlb..
.443
.478
.482
Lamb and mutton:
55.6
59.6
57.7
64. 2
56.9
61.0
53.8
67.7
58.9
57.4
56.4
Production, inspected slaughter
_ . _ m i l . lb._
48.0
53.2
56.8
58.2
12.2
19.9
21.0
19.7
16.3
18.4
17.6
16.1
18.3
18.5
17.9
Stocks, cold storage, end of month
do
14.7
'11.8
11.8
'10.2
9.2
Pork (including lard), production, inspected slaugh933.3 1,113.7 1,162.4 1,067.3 1, 127. 3
849.0
966.0 1, 132. 8 1,049.7 1, 094. 1
957.8
963.3
890.1
ter
.'
mil. lb_. 1,005.3 1, 005. 0
Pork (excluding lard):
762. 4
713.7
665. 0
763.1
850.7
872.1
890.0
739.2
808.1
740.5
815.8
877.7
838.5
680.5
Production, inspected slaughter
do
731. 4
271.1
165.8
203.4
128.3
136.4
315.9
209.1
338.5
193.0
200.0
235.5
279.7
295.1
233.6 ' 182. 1 '138.5
Stocks, cold storage, end of month..
do
5.8
5.8
5.7
3.6
5.6
4.6
5.4
6.5
5.5
4.5
3.8
4.3
5.2
7.3
6.3
Exports
do .
14.3
13.3
14.5
14.4
16.2
16.6
17.4
14.6
16.4
16.8
19.2
16.4
15.8
19.1
17.8
Imports
do
Prices, wholesale:
.472
.464
.471
.488
.462
.504
.499 7.490
.493 p. 493
.495
.470
.483
.465
.467
Hams smoked composite
$ per Ib
.552
.493
.479
.452
.429
.471
.497
.506
.484
.469
.450
.425
.463
.520
.467
.503
Fresh loins, 8-12 Ib. average (New York) .do
Lard:
176. 5
176.0
158.2
160.1
183.8
186.8
165.0
191.7
197.5
185.3
186.1
153.3
134.1
Production, inspected slaughter
_ mil. lb._ 177.3
168.8
119.0
120.8
99.5
109.2
123.3
103. 5
90.4
101.6
103.4
104.5
77.3
89.3
110.1
96.7
73.1
Stocks,55dry and cold storage, end of mo
do
51.7
34.9
21.8
42.4
34.4
34.5
64.5
13.6
40.4
33.6
24.8
38.2
33.6
38.0
50.5
Export
do
.130
.125 ".133
.133
.120
.120
.123
.120
.125
.123
.118
.128
.120
.125
Price, wholesale, refined (Chicago1)
$ per Ib..
.124
6
fl
r
Average based on months for which quotations are available.
No quotation.
Revised.
* Preliminary.
1
2
3
7 Beginning Feb. 1962, prices not strictly comparable with those for earlier periods,
Crop estimate for the year.
Nov. 1 estimate of 1962 crop.
Quarterly average.
t Re vised series.
• Choice only.
< Old crop only; new grain not reported until beginning of new crop year (July for wheat).
SURVEY OF CURRENT BUSINESS
November 1002
T
nless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
Monthly
average
1962
1961
Sept.
Oct.
Nov.
Dec.
Jan.
Fob.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
POULTRY AND EGGS
'oil! try:
Slaughter (commercial production)!
mil Ib _
Stocks, cold storage (frozen), end of month
do
Turkeys
_ ...
do
Price, in Georgia producing area, live broilers
$ per lb__
512
593
734
827
736
523
478
388
456
481
580
573
572
667
701
249
135
322
192
416
270
550
382
489
318
432
263
405
251
340
219
293
191
253
156
220
132
205
121
210
123
251
160
'331
r
233
434
324
.162
.132
.111
.113
.118
.148
. 155
.156
.154
.141
.135
.134
.139
.146
. 155
.139
13 4
14 0
7
.ges:
Production on farms
mil casesO..
Stocks, cold storage, end of month:
Shell
thous. cases O._
Fro/en
mil Ib
Price, wholesale, extras, large (delivered; Chicago)
$ per do/..
r
14.2
14.3
13.1
13.8
13.6
14.3
14 7
13.7
15 9
15.6
15 8
14 6
14.4
13 9
474
111
162
81
225
100
145
86
83
70
39
61
29
49
38
40
56
48
52
60
322
85
397
111
343
122
250
120
T 113
.372
.355
.399
.393
.357
.335
. 356
.330
.310
.306
269
.266
.280
.343
416
focoa (cacao) beans:
Imports (incl shells) thous. Ig. tons..
Price, wholesale, Accra (New York)
$ per lb__
20.5
.286
28. 5
.227
16.6
.215
10.3
.226
6.2
.245
11.1
.265
30.3
.225
22.3
.195
25.1
.213
35.7
.208
28 9
.224
37.0
.208
39 0
.205
22 9
'.203
8.0
.200
Toffee (green):
Inventories (roasters', importers', dealers'), end
of quarter
thous bagsd71
Roastings (green weight), Quarterly total do
iSJOS
1
5, 474
1
3, 034
1
5,573
3.211
5, 163
1,838
770
1, 866
719
1, 864
809
1,934
797
1,608
577
2,141
1, 059
2, 295
1 017
2 312
862
1.836
683
1,865
638
2 032
731
1 550
523
1 679
.369
100
.363
103
.353
138
.340
140
.341
131
.341
106
.345
109
.345
104
.345
110
.345
94
.350
79
.348
73
191
184
204
207
207
197
179
154
123
125
137
2,640
3,142
3,225
2,725
1,245
1,262
843
1,248
1, 968
2,468
256
562
145
265
528
169
105
468
183
697
440
82
903
246
53
760
184
60
324
538
67
93
473
139
47
600
205
778
772
6
1,750
401
808
801
7
1.716
510
917
911
6
885
1,124
799
790
9
1,261
566
815
805
9
1,708
356
755
750
5
2,195
443
625
618
2, 156
234
603
596
8
1.974
202
354
88
36
338
106
14
316
95
6
358
97
16
325
4
7
319
95
14
230
56
19
185
33
19
r 227
232
97
MISCELLANEOUS FOOD PRODUCTS
Imports
-do
From Brazil
do
Price, wholesale, Santos, No. 4 (New York)
$ per lb__
Confectionerv, manufacturers' sales
mil. $._
Fish:
Stocks, cold storage, end of month rail. l b _ _
Sugar:
Cuban stocks, raw, end of month
thous. Spanish tons..
United States:
Deliveries and supply (raw basis):
Production and receipts:
Production
thous. sh. tons_.
Entries from off-shore, total?
do
Hawaii and Puerto Rico
do
Deliveries, total
_
. do
For domestic consumption
do
For export and livestock feed
do
Stocks, raw and refined, end of month. do
Exports
_
sh. tons..
ImportsRaw sugnr, total 9
thous. sh. tons..
From Philippine Islands
do
Refined sugar, total
do
Prices (New York) :
Raw, wholesale
Refined:
Retail§
Wholesale (excl. excise tax)
Tea, imports
2
2.815
5,882
3 029
6 088
3 050
5 307
3 334
5,130
1 991
693
2 074
725
.348
69
.348
95
.340
141
.340
157
185
206
218
218
2,458
2,458
1,374
934
609
449
93
654
164
39
605
262
56
440
272
863
277
967
256
848
841
8
1. 735
134
706
696
10
1,740
194
833
824
9
1,624
225
%0
952
8
1,567
270
892
883
9
1 078
I OQ7
1,315
r gqg
194
336
P 823
555
326
73
8
316
136
26
494
186
17
363
136
53
469
204
13
308
137
9
400
70
15
.063
580
46
71
I9
679
129
$ per lb__
.063
.063
.061
.062
.062
.064
.065
.064
.064
.065
.064
.065
.064
.066
$ per 5 lb_.
$ perlb..
.553
.087
.570
.087
.561
.086
.567
.084
. 555
.084
.564
.086
.565
.086
.573
.088
.574
.088
.564
.089
565
.089
565
.089
565
089
566
089
v. 090
thous. lb._
9,598
9,111
8, 136
10, 644
10, 769
8,659
11,202
9,378
10, 800
11,782
12, 747
8,019
11,303
10 245
10, 825
192 8
204 6
203 6
233 4
235 5
222 4
221 3
214 5
214 4
931 7
230 8
997 4
189 0
242 9
221 2
114.9
116.9
111.4
112.8
119.3
122.9
125.0
130.3
142.7
155. 8
177.9
217.3
201.1
199.5
198.4
159. 6
175.3
164. 1
174.5
180 8
187. 9
181 2
195 1
235 8
228 4
934 9
254 6
230 9
206 1
191 9
Bnking or frying fats (incl. shortening):
Production
mil Ib
Stocks (producers' and warehouse), end of month
mil.lb..
Salad or cooking oils:
Production
_
_
do
Stocks (producers' and warehouse), end of month
mil. lb._
Margarine:
Production
do
Stocks (producers' and warehouse), end of month
mil. lb__
Price, wholesale (colored; mfr. to wholesaler or
large retailer* delivered)
$ per Ib
.201
53.6
154.0
137.6
152. 0
173.6
199.9
215.6
206.9
223.5
272.8
264.1
253. 8
244.0
143.6
146 8
157 3
147 0
147 8
159 8
140 6
142 9
242. 4
13e; q
254. 3
141.3
136 1
129 6
125 9
140 1
137 0
35.4
38.3
39.4
40.2
40.6
32.8
38.3
37.7
38.3
37.3
39.9
42.7
39.3
38.0
.268
270
270
270
270
270
270
270
270
270
OKO
246
35.5
26.1
37.5
29.6
39.3
36.0
35.5
30.5
33.3
28.6
40.8
32.9
36.7
28.4
33.4
29.5
.066
38.5
p
246
FATS, OILS, AND RELATED PRODUCTS
Animal and fish fats: A
Tallow, edible:
Production (quantities rendered)
mil. lb__ 29.4
35.9
34.7
40.0
36.0
Consumption in end products
do
24.6
31.4
33.5
37.6
33.3
Stocks (factory and warehouse), end of month
25.2
26.8
25.2
mil. lb__
20.9
23.9
Tallow and grease (except wool), inedible:
Production (quantities rendered)
do
276.1 296.2 290.3 306.3 319.7
Consumption in end products
do__
152. 7
146.5
144.8
155.6
149.0
Stocks (factory and warehouse), end of month
mil. lb_. 319.3 369.4
389.3
401.0
397.8
Fish and marine mammal oils:
Production _
do
17 4
20.8
24 2
14 3
10 2
Consumption in end products
do .
90
9.3
8.2
8.3
8 7
Stocks (factory and warehouse), end of month
93.4
123.4
mil. lb_179.7
176. 4
159. 0
r
Revised.
p Preliminary.
1
2
Quarterly average.
Data from July 1960 forward reflect revisions to include nonquota purchase charges. Revisions for July 1960-July 1961; 428; 644; 500; 382;
262; 203; 675;
449; 347; 770; 766; 639; 610.
JRe visions for Jan.-Aug. 1960 are shown in the Oct. 1961 SURVEY.
38.9
37.5
32.2
30.1
24.7
25.9
25.0
24.2
23.5
26.5
29.0
30.3
24.3
20.8
293.9
147 5
313.6
155 8
292.1
138 6
287 0
153 3
274 7
148 4
305 6
170 9
288 5
164 3
274 6
120 3
295 4
166 6
259 6
152 7
408.5
410.1
393. 1
425.0
412.3
358.2
340.4
381.2
366.0
364.6
11 2
83
7
83
4
7 9
3
84
4 9
83
31 1
90
51 8
9 3
45 1
7 6
r 32 5
78
29 8
73
132.9
125.6
114.7
101.7
98.3 130.2
166.7 r 149. 7
148.2
158.7
O Cases of 30 dozen.
cf Bags of 132.276 Ib.
9 Includes data not shown separately. § Price for New York and Northeastern New
Jersey.
AFor data on lard, see p. S-28.
SURVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
Monthly
average
November 19f>:
1961
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
1962
j
May j June
July
Aug.
Sept.
Oct.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
FATS, OILS, AND RELATED
PRODUCTS— Continued
Vegetable oils and related products:
Vegetable oils (total crude and refined) :
142.8
Exports
mil Ib
43.9
Imports
-do
Coconut oil:
Production:
41.3
Crude
_.
do
33.3
Refined
do
49.4
Consumption in end products
do
Stocks, crude and refined (factory and warehouse), end of month
mil. lb_- 2322.5
13.0
Imports
do
Corn oil:
Production:
27.5
Crude
do
25.7
Refined
- do
26.2
Consumption in end products
do
Stocks, crude and refined (factory and ware35.2
house) end of month
- .mil. Ib Cottonseed cake and meal:
Production
thous. sh. tons_.
Stocks (at oil mills) end of month
do
Cottonseed oil:
Production:
Crude
mil.lb _
Refined
do
Consumption in end products
do
Stocks, crude and refined (factory and warehouse) ,
end of month
mil. lb_.
Price, wholesale (drums; N.Y.)
__.$perlb_Linseed oil:
Production crude (raw)
mil Ib _
Consumption in end products
_
do
Stocks, crude and refined (factory and warehouse) ,
end of month
mil lb..
Price, wholesale (Minneapolis)
_.$perlb._
Soybean cake and meal:!
Production
thous. sh. tons. _
Stocks (at oil mills) end of month
do
Soybean oil:
Production:
Crude
.mil.lb .
Refined
- do
Consumption in end products
do
Stocks, crude and refined (factory and warehouse),
end of month
mil Ib
Price, wholesale (refined; N.Y.)
$perlb_.
92.6
47.2
57.0
50.9
108.0
61.2
78.0
59.7
79.0
51.9
111.1
62.3
105.0
37.4
82.6
49.4
186.1
53.9
141.0
51.0
215.4
41.0
234.3
38.6
162.1
57.1
124.2
55.5
41.6
38.6
53.7
44.8
37.5
51.1
45.7
43.0
58.9
43.2
38.6
50.7
39.1
34.7
51.8
38.0
39.9
54.6
38.8
39.8
51.4
41.5
46.9
61.7
31.9
45.8
61.6
28.0
47.0
60.0
0)
45.5
62.1
35.6
36.0
49.3
30.1
48.5
64.7
37.7
47.0
58.0
313.6
13.6
300.8
12.1
295.3
22.2
308.1
20.6
319.3
18.6
307.5
22.0
291.8
7.6
285. 6
15.3
269.9
17.9
245.0
19.0
218.8
16.0
220.6
15.5
209.4
26.1
206.1
15.5
28.0
26.8
26.4
29.1
29.0
30.5
28.2
26.5
31.5
28.3
26.5
23.1
27.7
27.8
22.7
28.4
26.7
22.4
27.8
24.4
20.5
31.5
26.6
24.0
31.3
28.7
24.1
32.3
29.5
26.7
32.0
26.8
28.9
30.3
28.4
27.1
33.3
34.8
32.1
29.6
28.9
28.5
34.6
33.2
25.3
28.3
30.7
36.2
42.1
49.5
54.1
55.9
51.9
52.1
49.5
49.4
207.8
172.4
204.0
168. 4
149.6
73.3
339.6
96.7
342.9
85.8
286.8
81.5
299.1
84.9
268.5
113.6
242.5
123.4
192.1
156. 9
130.9
164.0
99.9
155.7
85.2
133.9
103.2
94.2
236.0
99.1
151.4
127.1
106.4
149.5
125.5
110.7
109.4
63.2
90.3
255. 1
161.1
117.3
256.8
183.5
125.4
210.3
168. 9
117.5
219.1
160.9
109.2
200.7
164.3
106.7
182.0
162.0
117.9
146.3
142.9
121.5
98.2
117.4
112.2
74.9
91.4
107.8
63.7
72.8
98.0
75.1
77.8
107.6
165.8
113. 3
104.1
385.7
.151
335.8
.186
170. 4
.194
245.0
.179
320.4
.179
392.0
.183
434.2
.183
488.7
.181
477.5
.179
513.4
.176
458.4
.171
401.5
.169
324.4
.165
270.7
.161
296.0
p. 157
30.6
32.0
35.5
31.8
40.7
33.0
34.0
30.1
39.5
25.8
32.1
24.8
33.3
27.1
33.4
25.4
30.6
32.9
31.7
34.8
23.3
35.4
20.9
36.0
14.3
35.1
27.1
35.2
44.8
31.7
110.8
.131
103.0
.142
96.8
.149
98.3
.152
117.0
.152
128.4
.152
134.9
.152
140.6
.152
137.0
.152
135. 3
.152
121.2
.151
105.4
.147
79.3
.145
73.2
.138
83.8
p. 131
762.6
104.3
778.4
147.2
529.7
71.9
838.7
62.4
888.0
62.9
895. 4
99.3
946.7
101.4
841.1
89.2
899.1
91.2
840.3
96.0
891.4
101.8
794.0
88.0
807.7
91.2
799.0
72.9
709.2
85.1
366.0
289.7
283.8
370.2
299.4
288.7
253.3
284.0
292.5
396.9
294.6
309.2
417.7
319.2
302.1
417.9
332. 1
315. 1
442.4
341.5
323.2
395.0
312.1
304.0
422.7
351.7
347. 9
397.4
318.1
340.5
425.4
352.7
352.1
376.6
364.9
378.7
383.9
314.5
337.0
379.7
339.9
342.8
334.4
318.1
331.7
476.5
.129
704.5
.157
677.2
.148
738.0
.149
802.2
.146
859.6
.151
933.3
.148
959.2
.145
956.4
. 142
924.6
.141
930.4
.133
808.8
.128
763.3
.122
' 686. 7
M25
607.0
p. 123
1, 944
2, 058
4,737
28, 491
13, 773
30, 767
13, 945
29,215
15, 054
4,318
38, 835
12, 404
34, 625
12, 281
35,009
14, 123
TOBACCO
Leaf:
Stocks, dealers' and manufacturers', end of quarter total
mil Ib
Exports incl scrap and stems
thous Ib
Imports, incl. scrap and stems
do
Manufactured:
Production total
do
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
millions..
3
42,200
s 4, 573 4,580
41,346 41,741
13, 257 13,870
4,537
81, 762
13, 066
90,316
14, 048
69, 484
14,629
4,843
42, 893 19, 756 23,716
10, 131 15, 710 14, 182
14, 442 14,429
15, 015
16, 098
13, 909
11,348 14,335
12,880
14, 772
13, 988
15,033
14.093
12, 346
15, 926
3,296
3,100
40,677 39, 584
549
531
3,732
45, 361
605
3,342
42, 568
666
3,063
33, 260
367
3,299
41,114
490
3,283
35, 836
432
3,528
42, 645
513
3,225
38, 592
510
3,725
45, 094
623
3,537
41, 294
535
3,208
39, 377
520
3,625
47, 303
596
14, 124
1,861
15,010
1,872
13, 905
1,987
11,526
2,011
13, 999
1,861
11,754
1,982
14, 085
2,097
13, 849
2,166
14. 647
1,880
14, 200
2.119
12, 766
1,902
15,031
r2,062
2,188
7,518
116
8,506
135
773
6,746
217
582
3,083
39,178
543
Cigars (large), taxable
do
Manufactured tobacco and snuff, taxable
thous. lb_. 14,148
1,685
Exports, cigarettes
millions.
14, 379
1,970
77, 732
12, 785
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value, total 9 —
—thous. $..
Calf and kip skins
thous. skins..
Cattle hides
thous. hides..
Imports:
Value, total?
thous. $_.
Sheep and lamb skins
thous. pieces..
Ooat and kid skins.
do
Prices, wholesale (f.o.b. shipping point):
Calfskins, packer, heavy, 9^/15 Ib
..$perlb._
Hides, steer, heavy, native, over 53 Ib
do
6,367
177
574
7,179
212
637
6,406
190
7,194
139
594
7,357
201
611
7,844
148
7, 867
116
704
5,514
179
442
6,304
237
515
5,677
212
452
6,957
184
572
180
605
5,886
2,308
1,605
5,357
2,325
1,228
5, 576
2,545
1,081
5,139
1,923
1,115
4, 654
1,126
1,109
4,718
5,296
2,330
1,109
7,615
3,122
1,601
9,111
5,853
1,463
6, 035
1,687
1,512
7,067
3,386
1.202
5,991
2,782
1,278
4,921
1,115
1,012
5,172
2.070
1,375
3,979
1,159
913
.561
.139
P.631
P . 150
.650
.178
.675
.163
.650
.163
.675
.148
.675
.148
.700
.138
.700
.138
.650
.143
.650
.158
.625
.163
.575
.153
.600
.158
p. 625
p. 168
581
1,966
1,311
2,954
560
1,869
1,253
2,403
588
1,947
1,326
2,462
510
1, 893
1,049
2,570
489
1,913
1,133
2,330
505
1,852
1,100
2,421
472
1,999
1,211
2,806
513
1,882
1,241
2,643
380
' 1,533
' 1,133
1,992
537
1,994
967
'2.809
452
1,798
1,049
2.435
4,761
3,744
3,659
3,673
3,438
3,153
3,163
2,821
2,951
3,232
3,557
3,113
3,500
2,499
3,950
3,387
2,249
2,933
2,828
3,105
3, 698
2,930
.720
.717
.710
.713
.717
.720
.710
.710
p. 710
1.350
1.397
1.380
1.357
1.380 1.330 1.323
IData formerly shown in mil. Ib.
9 Includes data for items not shown separately.
1.333
1.337
1.337
LEATHER
Production:
492
558
533
528
Calf and whole kip..
thous. skins..
2, 020
1, 861
1,895
Cattle hide and side kip...thous. hides and kips.. 1,831
1.305
1,239
1,148
Goat and kid
thous. skins.. 1,570
2,835
2,635
2,658
2,540
Sheep and lamb
do
Exports:
6,174
5,599
5,244
Glove and garment leather
thous. sq. ft.. 2,879
4,291
3,449
4,270
4,430
Upperand lining leather
do
Prices, wholesale:
.740
.740
.703 P . 707
Sole, bends, light, f.o.b. tannery
$ per Ib..
Upper, chrome calf, B and C grades, f.o.b. tan1.412
1.398
nery.
$ per sq. ft.. 1.319 p 1.401
r
Revised.
P Preliminary.
i Not available. 2 Average based
on 9 months (Apr.-Dec.).
3
Crop estimate for the year. 4 Nov. 1 estimate of 1962 crop. > Quarterly average.
.733
1.387
973
SURVEY OF CUERENT BUSINESS
ovember 1962
nless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
1961
Monthly
average
S-31
Sept.
Oct.
1962
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
52, 887
53,211
51, 110
46, 155
58, 994
48, 702
39 755
5 665
315
420
48 551
9 293
496
654
38 849
8 737
481
635
197
Aug.
Sept.
Oct.
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES
hoes and slippers:
Production, total
thous. pairs. _ 49, 870
Shoes, sandals, and play shoes, except athletic
42 589
thous pairs
Slippers for housewear
do
6,216
584
Athletic
-_
-_
do
482
Other footwear
do
Exports
do
Prices, wholesale, f.o.b. factory:
Men's and boys' oxfords, dress, elk or side
upper, Goodyear welt
- 1957-59=100Women's oxfords, elk side upper, Goodyear
welt
1957-59=100
Women's pumps, low-medium quality do
49, 966
46, 729
55, 828
53, 411
58, 898
41 059
9 696
502
585
39 803
9 142
548
473
40 488
5 165
553
523
50 408
4,472
502
446
47 901
4,624
511
375
52 217
5 631
583
467
46 473
5 317
579
518
45 777
6 293
577
564
43 194
6,671
552
693
210
198
160
106
166
202
192
191
159
131
206
105.5
105.5
105. 5
105.5
105.8
105.8
105.8
105.8
105 8
105.8
105 8
105.8
105.8
108.3
109.9
108.3
110.4
108.3
111.0
108.3
111.1
108.3
111.1
108.3
110.9
108.3
111.0
108 3
111.1
108 3
111.1
108.3
110.9
108 3
111.2
108 3
111.1
108 3
111.4
49, 982
47, 646
42 877
6 131
501
474
38 124
8,526
444
552
199
179
184
106.5
105.5
108.0
109.3
108. 1
110.2
51,842
LUMBER AND MANUFACTURES
LUMBER— ALL TYPES
National Lumber Manufacturers Association:
Production, totalt
_ _ .mil. bd. ft__
Hardwoods
do
Softwoods
do_ _.
2,874
513
2,361
2 641
385
2 257
2,829
398
2,431
2 842
424
2 418
2 617
398
2 219
2 205
313
1,892
2,220
297
1,923
2,555
409
2, 146
2 778
395
2 383
2 752
437
2 315
3 106
496
2 610
2 897
524
2,373
2 690
522
2 168
3 110
599
2 511
2 879
620
2 259
do_ __
do
do
2,803
505
2,298
2 666
415
2 251
°, 784
438
2 346
2 814
421
2 393
2 497
405
2 09^
2 259
404
1 855
2,344
397
1,947
2, 624
501
2 123
2 920
479
2 441
2 920
493
2 427
3 242
500
2 742
3 040
491
2 549
2 724
465
2 259
2 995
507
2 488
2 684
533
2 151
do
do
do
7,880
1,916
5, 964
7 912
1 897
6 015
7 810
1.801
6 009
7 809
1 804
6 005
7 883
1,797
6 086
7 828
1,706
6 122
7,539
1,606
5 933
7 426
1, 514
5 912
7 284
1 430
5 854
7 130
1,374
5 756
6 989
1 370
5 619
6 872
1 405
5 467
6 805
1 462
5 313
6 158
1 554
4 604
6 330
1 641
4 A8Q
exports total sawmill products _ _ _ _ _ _ d o
mports, total sawmill products
do
72
327
64
355
66
372
66
398
70
348
64
274
80
284
54
351
70
400
58
436
94
457
66
468
64
482
57
490
SOFTWOODS
Douglas fir:t
Orders new
Orders, unfilled, end of month .
666
533
640
471
583
424
658
446
598
422
524
419
653
508
618
577
679
504
717
534
757
511
741
500
628
504
721
481
696
691
1,146
646
640
1,126
638
625
1,108
638
635
1,082
637
623
1,096
546
527
1,114
588
565
1,122
626
573
1,131
706
732
1 105
677
688
1, 108
727
780
1.050
661
752
958
581
624
927
714
744
893
Exports, total sawmill products
do_ _
Sawed timber
do
17
15
Boards, planks, scantlings, etc
do
Prices, wholesale:
Dimension, construction, dried, 2" x 4", R. L.
$ per M bd. ft.. 81.13
Flooring, C and better, F. G., 1" x 4", R. L.
$per M b d . ft_. U30.03
Southern pine:
517
Orders, newt
mil. bd. ft__
191
Orders unfilled, end of month
do
23
10
12
23
12
11
22
11
11
21
9
11
21
9
12
27
11
16
18
7
11
35
14
22
26
12
14
30
15
15
24
g
15
28
9
18
26
8
18
Shipments, totalt
Hardwoods
..
Softwoods
._
Stocks (gross), mill, end of month, total J
Hardwoods
Softwoods
mil bd ft
do
Production ___
Shipments
Stocks (gross), mill, end of month
do
do
do.
Production!
_ _
_
do
Shipments!
do
Stocks (gross), mill and concentration yards, end
of month
mil. bd. ft
Exports, total sawmill products
M bd. ft__
Sawed timber _
_ _ do
Boards, planks, scantlings, etc
do
Prices, wholesale, (indexes):
Boards, No. 2 and better, I" x 6", R. L.
1957-59=100__
Flooring, B and better, F. G., I" x 4", S. L.
1957-59=100Western pine:
Orders, newt _ _
mil bd ft
Orders, unfilled, end of month
do
Production t
_ _ _do
Shipmentst
do
Stocks (gross), mill, end of montht
-do
Price, wholesale, Pouderosa, boards, No. 3, 1" x
12" R. L. (6' and over)
$ per M bd. ft
CQ
AOQ
9
13
78.43
78.95
76.85
76.66
75. 53
75.23
76.18
77.88
78.46
79.03
78.90
81.29
124. 21
122. 59
121.74
121.74
121. 92
120.18
119.98
120. 41
120. 41
120. 58
120. 10
122. 18
545
224
578
221
595
211
517
183
423
185
498
221
579
271
621
283
598
292
674
286
583
264
578
251
538
246
548
518
538
544
561
582
585
605
569
545
489
421
506
462
548
529
595
609
570
589
659
680
597
605
571
591
552
543
2,047
7,794
1,962
5,833
2,087
5,827
1,342
4,486
2. 030
3, 962
905
3,057
2,010
5,500
904
4,596
2, 034
5,650
780
4,870
2,102
7,268
2,889
4,379
2,146
4,892
1,389
3,503
2, 165
8,924
1,381
7,543
2 151
5,299
1 700
3,599
2,132
6,777
1,634
5,143
2 111
9.398
4 367
5.031
2, 103
6,615
1 944
4,671
2 083
5,801
1 787
4,014
1 342
5, 932
811
5,121
2 9^4.
4 707
' 81. 50 f 81. 42
r
123. 31 ^124 90
503
94Q
4Q8
1
OA.O
6 941
99.0
92.7
93.3
93.3
93.2
92.7
93.7
93.6
94.1
94.4
94.6
94.4
93.5
-•92.3
91 9
97.4
95.3
95.2
95.2
95.0
95.0
94.3
94.3
94.3
94.5
94.4
94.6
94.3
'94.7
94 8
719
359
727
359
770
317
794
330
621
305
644
312
690
380
757
441
741
467
759
461
oco
435
781
437
755
445
769
366
or 4
747
725
1,957
724
728
1,974
858
777
2,043
806
782
2,067
664
645
2,086
577
637
2,026
513
621
1,768
636
697
1,707
705
715
1,697
705
765
1,637
839
878
1,598
755
780
1,573
734
747
1, 560
898
840
1,610
1,724
74.86
69.63
68.88
66.83
66.03
65.74
64.61
65.69
67.38
70.91
71 49
69.59
69 08
67 76
»fifi rvn
3.2
11.6
30
3.1
9.7
3.1
11.3
31
3.0
8.7
3.2
10.9
3 4
2.9
8.1
2.9
10.6
3 4
3.3
8.2
2.6
10.5
3.2
2.6
8.6
2.2
10.0
2 8
2 6
9.1
2.9
10 5
30
2 3
9.8
2.6
10 8
2 6
2 4
10.0
3.0
11 1
2 8
2 6
10.2
2.7
11 0
2 4
2 6
10.0
4.0
11 3
2 8
35
9.0
4.6
11.6
30
4 0
8.2
3.2
11 0
2 7
3 4
7 0
3.4
10 1
30
35
6.2
2.3
9 7
2 5
2 6
61
69.0
38.5
73.2
70.6
95.6
64.2
35.6
65.5
65.4
99.9
68.1
37.8
66.7
68.3
93.4
65.8
34.3
70.5
69.3
94.5
61.1
31.5
68.4
66.0
94.8
49.6
27.3
55.3
54.8
84.7
57 9
35.5
60 6
53 7
100.4
65 5
43.8
57 7
57 2
98 3
65
49
64
62
96
66 6
51.1
57 2
63 6
88.4
72
49
66
74
80
68 9
47.6
66 1
70 9
74.8
67
46
63
68
68
80
46
77
81
64
HARDWOOD FLOORING AND PLYWOOD
Flooring:
Maple, beech, and birch:
Orders, new.
mil.
Orders, unfilled, end of month
_.
Production
Shipments
Stocks (gross), mill, end of month.
Oak:
Orders, new
Orders, unfilled, end of month
Production
Shipments _
Stocks (gross), mill, end of month
r
Revised.
1
* Preliminary.
Average for 9 months (Apr.-Dec.).
bd. ft__
do
do
do
do
do
do
do
do
do
4
3
4
7
9
7
9
8
6
7
3
9
5
2
9
9
3
9
6
6
69
43
66
69
59
8
6
2
7
4
tRevisions for 1959-1960 appear on p. 24 of the Nov. 1961 SURVEY; revisions for 1948-1958
for stocks, all types of lumber, and for Western pine stocks are available upon request.
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
Monthly
average
November 10(>;
1962
1961
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
Aug.
July
June
Sept.
Oct.
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Iron and steel products (excl. advanced mfs. and
ferroalloys) :
Exports total 9 d"
thous sh. tons
Steel mill products
_ do
Scrapcf -do . .
Imports, total 9 d"
Steel mill productsd" _ _ __
Scrap
-- -do
do
do
865
248
598
1,018
166
810
973
165
766
959
208
713
861
193
630
750
°12
504
652
180
445
550
169
357
549
153
377
551
149
385
740
150
560
620
158
445
470
140
313
704
214
461
904
204
676
340
280
15
329
262
21
377
269
36
423
335
32
504
357
34
350
292
24
377
332
22
321
282
17
392
340
16
370
325
16
509
413
13
475
364
19
520
395
66
505
375
15
374
285
15
5,315
3, 206
2,109
5,361
8, 651
5,684
3,516
2, 167
5, 584
8,674
6,151
3,658
2, 493
5,851
8,967
5,798
3,533
2,265
5,655
9,108
5 819
3, 664
2, 155
6, 190
8,741
6, 214
3, 941
2,273
6, 531
8, 456
6,230
3,811
2,419
6, 183
8, 506
6.805
4,280
2, 525
6,777
8, 534
6,078
3,834
2,244
5, 924
8,689
5,547
3,419
2, 128
5, 167
9. 068
4,938
3,058
1,880
4,862
9,196
4, 325
2,640
1,685
4, 243
" 9, 276
"4 878
P 3, 044
P 1, 834
p 4, 957
P 9, 204
36.64
35. 00
40.64
38.00
39.09
38.00
33.10
34.00
34.10
36.00
37.67
39.00
36.25
38.00
31.98
33.00
30.18
32.00
26.14
28.00
24. 13
26. 00
24. 59
26.00
5, 983
6, 033
2,151
8,633
10, 062
2, 567
7.898
9,413
3, 071
5, 022
7, 393
2,218
3,711
1, 660
1, 970
3.911
1 . 687
1,777
3. 514
1, 465
1,588
4,016
1, 546
2. 061
4, 590
3, 509
2,718
9,482
10, 302
3,723
9,617
11.117
4. 275
9, 050
11,039
4,041
9,061
9,811
3,049
7, 759
8, 143
412
82, 009
15, 952
59, 790
6,267
12,116
8, 965
f>90
84, 590
13, 596
65, 238
5, 756
11,999
9, 681
550
85. 748
19, 107
67, 5"6
6, 085
9, 560
9. 058
362
84, 148
9, 755
68, 058
6,335
4,080
9, 532
66
80, 548
11,843
62, 605
6, 100
3,230
10,316
131
75, 645
14,055
55, 572
6,018
3, 139
9, 696
79
70, 946
16,107
49,015
5,824
3,718
10. 623
41
65, 985
18, 559
42,110
5,316
5, 084
9, 621
362
62 070
1 9, 643
37, 573
4,854
13. 005
7,974
625
66, 349
18.820
42. 591
4,938
13, 564
6, 758
853
71,914
17, 326
49, 405
5. 183
13, 457
5, 965
1,222
77, 861
15,364
56, 928
5, 569
12 228
6, 670
836
82, 941
14,611
62, 472
5, 858
10, 543
6, 764
654
99
86
68
93
83
130
75
105
99
104
103
87
72
71
69
5 556
5, 552
5,393
5,483
6,019
6 105
6,330
6 327
6, 105
6, 051
6, 400
6,425
6,833
6, 996
6,421
6,576
7. 106
7,198
6, 425
6,392
5, 458
5, 304
4 58?
4. 605
4,211
4, 586
p 4, 738
4,659
r 4. 167
3 471
3,250
2 999
3 057
3,147
3, 183
3,101
2.961
2.949
3 079
3,276
3. 345
r 3. 443 p 3, 193
65 95
66. 00
66. 50
65. 95
66. 00
66. 50
65. 95
66. 00
66. 50
65. 95
66. 00
66. 50
65. 95
66. 00
66. 50
05. 95
66. 00
66. 50
65. 95
66.00
66. 50
65. 95
66. 00
66. 50
65. 95
66. 00
66. 50
65. 95
66. 00
66. 50
65. 95
66.00
66. 50
65. 95
66 00
66. 50
65. 95
66.00
66. 50
739
966
534
653
902
514
685
947
567
649
1 031
594
636
990
529
672
922
470
673
981
512
681
994
474
719
1 061
563
704
1 021
544
674
1.046
572
628
990
553
643
800
452
660
882
551
73
68
39
56
60
36
59
53
35
59
66
39
62
71
40
66
68
37
70
75
43
69
70
40
71
76
42
72
74
50
70
80
69
74
73
57
72
66
47
8,273
101.9
8, 168
100.9
8,915
111.7
9,173
111.2
8,746
109.5
9, 569
116.0
10, 353
125.5
9,698
130.1
10, 584
128. 3
9, 236
115.7
7,536
91.3
6. 692
83. 8
6,174
74.8
7,098
86.0
231
116
89
153
101
78
148
103
80
156
108
82
156
109
83
169
115
88
200
119
93
198
126
100
189
149
112
206
130
102
190
136
107
172
127
101
176
97
75
173
111
87
317
106
79
274
99
73
283
99
74
282
111
84
282
110
82
308
104
78
340
114
85
356
118
83
345
132
103
331
122
92
311
123
94
299
122
94
^302
97
72
299
110
86
6.046
287
426
567
61
938
594
228
108
632
' 282
430
2,423
639
1,145
5,787
260
403
608
56
904
586
200
110
495
244
405
2,411
637
1,163
5,787
272
404
590
67
868
601
151
108
448
216
357
2,564
693
1,294
6,906
276
402
648
94
1,028
707
174
137
506
260
614
3,080
846
1,555
6,626
289
392
612
102
986
682
159
136
534
261
548
2,903
783
1,406
7,699
325
473
720
136
1,164
823
179
152
657
313
691
3,219
871
1,566
6,783
262
434
639
113
1,048
698
211
130
660
302
532
2,794
738
1,371
6.183
220
431
567
106
980
624
226
122
663
295
564
2,356
605
1,128
5. 360
188
402
453
87
830
500
222
101
676
273
587
1.862
504
822
4,505
177
351
381
70
701
413
204
78
600
209
506
1,509
421
669
5, 402
197
409
438
60
854
516
232
99
723
253
571
1,897
530
829
5,125
194
351
430
54
824
522
205
91
623
249
453
1,947
531
875
9.4
3.1
9.3
4.1
4.2
3.2
9.4
4.3
4.2
3.4
10.2
5.1
4.3
3.4
11.0
4.9
4.1
3.5
12.0
5.6
4.6
3. 6
12.4
4.9
4.5
3.6
12.1
4.5
4.8
3. 6
11.4
3.9
4.6
3.5
10.9
3.5
4.0
3.5
10.5
3.9
4.3
r
3.4
9.9
3.7
4.3
3.3
.0698
7.6
6.6
.0698
8.3
7.0
.0698
8.5
7.3
.0698
8.5
7.5
.0698
7.9
7.5
.0698
7.6
7.5
.0698
7.1
7.0
.0698
6 7
6.8
.0698
6.8
6.6
.0698
6.5
65
.0698
67
6 3
.0698
Iron and Steel Scrap
5,475
Production and receipts total
thous sh tons
3,300
Home scrap produced
do
Purchased scrap received (net)
do__ _ 2, 175
5,539
Consumption total
do
9,487
Stocks consumers', end of mo
do
Prices, steel scrap, No. 1 heavy melting:
32.
95
Composite (5 markets) §
$ per Ig. ton
33.00
Pittsburgh district
do
Ore
Iron ore (operations 1in all U.S. districts):
7.320
Mine production d
thous. Ig tons
7,014
Shipments1 from mines <3*
_ _ do__
2,882
Imports d*
do
U.S. and foreign ores and ore agglomerates:
9, 396
Receipts at. iron and steel plants
do
8, 522
Consumption at iron and steel plants
do
439
Fxportscf
do
70,611
Stocks total,31 end of mo. d71 do
11,407
At mines d
do
53, 358
At furnace yards
do
5,846
At U S docks
do
M-^an^anese (mn content) general imports d1 do
r
r
r
r
26. 86 p 26. 38
29.00 P 27. 00
3,536
66, 250
6, 407
Pig Iron and Iron Products
Pig iron :
Production (excl. blast furnace production of ferroalloys)
thous sh tons
Consumption
do
Stocks (consumers' and suppliers'), end of mo.
thous sh tons
Prices:
Composite
$ per Ig ton
Basic f furnace)
do
Foundry No 2 Northern
do
Castings, gray iron:'
Orders, unfilled, for sale, end of mo.
thous sh tons
Shipments 1 totaled
do
For sale of
do
Castings, malleable iron:
Orders, unfilled, for sale, end of mo.
thous sh tons
Shipments total
do
For sale
do
Steel, Crude, Semifinished, and Finished
Steel ingots and steel for castings:
Production
thous. sh. tons..
Index
1957-59=100
Steel castings:
Orders, unfilled, for sale, end cf mo.*
thous sh tons
Shipments, total
do
For sale total
do
Steel forgings (for sale):
Orders unfilled end of mo
do
Shipments total
do
Drop and upset
do
Steel products, net shipments:
5,929
5, 510
6, 058
Total Tall grades)
do
241
212
235
Semifinished products
do
438
437
395
Structural shapes (heavy) steel piling do
544
496
511
Plates
do
62
70
105
Rails 8nd accessories
do
931
839
884
Bars and tool steel total
do
595
532
576
Bars* Hot rolled (incl light shapes)
do
228
204
185
Reinforcing
do
101
115
98
Cold
finished
do
694
589
588
Pipe and tubing
do
278
253
248
Wire and wire products _
_ _ do
485
503
510
Tin mill products
do
2, 387
2,417
2,147
Sheets and strip (incl. electrical), total do
662
666
585
Sheets: Hot rolled
_
do
1,013
1,089
1,206
Cold rolled
do
Steel mill products, inventories, end of mo.:*
Consumers (manufacturers only) mil sh tons
Receipts during month
do
Consumption during month
_ _ do __
Warehouses (merchant wholesalers)
do
Producing mills:
In process (ingots semifinished, etc )
do
Finished (sheets plates, bars, pipe, etc ) do
Steel, finished, composite price
$ per lb__ .0698 .0698 .0698
r
Revised.
*> Preliminary.
9 Includes data not shown separately.
1
d Scattered revisions for 1959-61 are available upon request.
§ Effective Jan. 1961, the composite reflects new weights; prices beginning
not comparable with earlier prices.
Jan. 1961
65. 95
65. 95
66. 00 p 66. 00
66. 50 p 66. 50
r 7, 251
90.8
65. 95
*>7,773
P94.2
. 0698
*New series (Bureau of the Census). Data for steel mill inventories represent industry
totals for the specified holders of steel mill shapes; stocks held by nonmanufacturing industries
are not shown. Consumers' operations include fabricating activities of steel producing
companies. For warehouses, data are derived from value of inventories.
SURVEY OF CURRENT BUSINESS
November 1962
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
Monthly
average
S-33
1961
Sept.
Oct.
1962
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
326
314
2,316
Oct.
METALS AND MANUFACTURES—Continued
IRON AND STEEL— Continued
Steel, Manufactured Products
Fabricated structural steel:
Orders, new (net). __
Shipments
Backlog, end of year or mo
2,333
299
322
343
318
2.723
408
326
2,729
303
354
2, 566
333
339
2,707
373
296
2,723
314
284
2, 596
276
289
2,487
221
327
2, 481
274
312
2,414
294
357
2,352
292
349
2,406
239
308
2, 357
289
367
2,301
1,609
1,755
1, 521
1,834
1,530
1,841
1, 513
1,960
1,451
1,846
1,510
1,607
1.491
1 . 887
1 , 482
1,774
1 . 568
2,063
1. 438
1,945
1.425
2, 259
1 460
2 240
1 402
1 992
1,331
2.079
404
418
539
453
346
344
334
320
379
395
462
478
167.9
127.3
158.6
i 28.2
159.6
32.0
1 67. 3
36.0
164.1
36.0
168. 0
36.0
170.1
41.0
157.7
43.0
177. 4
48.0
173.7
50.0
184.2
52.0
12.7
3.1
23.7
16.6
4. 1
10.7
19.5
4.2
6.8
22.8
4.6
11.8
18.4
4.8
9.4
20. 0
4.7
8.7
17.3
5.0
19.8
13.5
5.4
10.2
18.9
5.3
12.2
19.9
9.0
10.4
185. 3
.2600
258. 2
. 2546
255. 4
. 2550
255. 6
.2400
240.3
. 2400
207. 1
. 2400
198.4
.2400
190.8
.2400
170.7
. 2400
388.1
254.1
115. 7
«• 64.5
403. 4
278.7
124.4
63.5
416. 5
286. 8
126.8
62.6
440.8
294. 2
127.3
72.6
446. 3
298.3
129.9
70.8
435. 8
271.3
115.8
73.7
429.4
296.9
133.9
79.8
429. 0
292. 2
134. 3
73. 6
90.0
126.6
93.4
33.1
23.0
97.1
129.2
98.4
30.8
21.9
98.3
118.7
90.8
27. H
20.7
104.6
129. 8
101.9
27.9
21.9
104.4
130.4
104.3
26.1
23.1
103.2
131. 1
100. 5
30.6
18.7
103. 0
134.7
103. 5
31.2
21.5
43.8
11.9
38.4
5.6
30.2
5.9
43.6
12.3
47.7
4.7
36.0
3 4
51.3
36.1
114.6
48.7
36.0
124.0
30.0
23.4
138.5
32.2
25 9
138-9
30.5
25.3
137.1
do
do
$ per lb_.
174.3
98.0
.3205
187.7
105.1
.2992
167.3
108.2
. 3060
162.3
108.0
. 3060
159.1
102 9
. 3060
Copper-base mill and foundry products, shipments
(quarterly avg. or total):
Copper mill (brass mill) products
mil. lb_.
Copper wire mill products©
do___
Brass and bronze foundry products
- _ do
470
380
216
517
388
212
526
374
203
Lead:
Production:
Mine, recoverable lead.
-thous. sh. tons..
Secondary, estimated recoverable©
do
20.6
39.2
21.8
37.7
20.5
38.6
20.9
42.2
20.0
40.7
20.7
34.8
22.5
36.7
21.9
37.2
21.9
37.1
24.0
35.5
25.0
37.7
24 0
36 6
21 3
31 8
29.3
85.1
33.7
85.6
32.3
89.1
37.1
92.3
40.6
89.7
40.8
89.8
39.2
96. 1
30.6
85 4
45.7
88 0
36.3
83 8
33.8
91 9
30.9
87 6
23.2
77 2
thous. sh. tons_.
do
-do
Barrels and drums, steel, heavy types (for sale):
Orders unfilled, end of mo
thous
Shipments
- _ _ _ _ _ _ -_, _do
Cans (tinplate), shipments (metal consumed),
total for sale and own usej
thous. sh. tons
r
512
628
179.1
52 0
184.1
41.0
168. 1
46.0
176.2
30.0
6.1
9.7
33.0
6.0
10.3
38 9
5.2
12.7
27 3
5.3
10.3
29.8
4.0
17.1
154.5
.2400
137.8
.2400
132.6
. 2400
131.7
.2400
130. «
. 2400
148.3
.2400
516. 5
344. 1
J59. 0
81.2
474. 1
315. 9
142.2
78.8
499.0
354. 3
160.4
83.3
506 6
347.5
158 8
77.4
* 449. 2
r 320. 4
f 144 3
442. 1
317.9
137.9
73.8
101.3
136. 7
103.7
33.0
18.0
109.6
146. 1
107.9
38.2
23.9
108.8
126 5
98.6
27 9
22.3
113. 9
146. 1
109.3
36.8
24.9
102.8
145 8
109 1
36 7
95 9
91.5
1°4 5
90 9
33 6
21 0
50.2
6.2
32.3
6 9
54. 1
6 2
16 9
5 9
64. 6
5 3
41 4
6 9
53.4
46. 9
115.2
37. 6
31.9
134.7
38.4
31.7
125. 4
33.9
27. 7
151.0
30.8
26 2
138.8
30.2
27 2
142 6
37.5
34 6
14° 9
159.4
102.4
. 3060
150.5
92.0
. 3000
157. 5
98 9
. 3060
155.9
102 2
. 3060
142 4
96 8
.3060
153.3
98 4
. 3060
157 1
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. sh. tons..
Estimated recovery from scrap
do
Imports (general):
Metal and alloys, crude
do
Plates, sheets, etc
do___
Exports, metal and alloys, crude
-do _.
Stocks, primary (at reduction plants), end of mo.
thous. sh. tons
Price, primary ingot, 99.5% min
$ por l b _ _
Aluminum shipments:
AT ill products and pic and ingot (net) t mil. Ib
Mill products, total t
-do .
Plate and sheet (excl. foil)§
do
Castings^
_. __
do
Copper:
Production:
Mine, recoverable copper
thous. sh. tons__
Refinery, primary
do
From domestic ores _ _
do
From foreign ores
do
Secondary, recovered as refined
do
Imports (general):
Refined, unrefined, scrap®!
do
Refined
do
Exports:
Refined, scrap, brass and bronze ingotsj^do
Refined _ _ _
_ -_. _ _
do
Consumption, refined (by mills, etc.)
_.do
Stocks refined, end of mo., total
Fabricators'
Price, bars, electrolytic (N.Y.)
Imports (general), ore©, metalt
Consumption, total
do
do
Stocks, end of year or mo.:
Producers', ore, base bullion, and in process©
(ABMS)
_thous. sh. tons
Refiners' (primary), refined and antimonial
thous. sh. tons..
1
Consumers' d"
do
Scrap (lead-base, purchased), all consumers
thous. sh. tons._
Price, common grade (N.Y.)
$perlb_.
93.8
90.1
2 249 3
2 186. 3
2 62 9
2 46 8
47 0
81
22 5
7 3
28 3
5 3
26.3
99 q
P96 5
32.0
27 4
"138 4
32.3
28 2
v 133 7
. 3060
P906 8 p204 2 p 194 96
rJ21 1 p 1 05 4 p 104
. 3060
.3060
.3000
607
422
949
P531
P394
p220
1Q9 Cj
r
16 6
35.7
14 5
33.8
93 i
36.3
145. 1
100.6
112.8
1 16. 4
107.6
100 6
90 7
93.6
93 0
88 3
95 1
94 3
96 5
87 4
205.6
99. 1
189.7
107.7
193.1
106.6
204.9
106.5
208.1
90.1
207.2
93.7
200.0
101.3
203.6
104 3
199.7
106 7
193.7
106 6
188.4
106 0
191.1
102 1
188.4
99 4
46.6
.1195
41.3
.1087
43.3
.1100
42.8
.1100
39.4
.1020
38.6
.1025
40.3
.1003
37.2
.0958
34.4
. 0950
33.9
.0950
35.4
.0950
36.5
.0950
39.9
.0950
39.0
. 0950
.0950
1,169
3,295
1,800
250
6,710
4,290
743
3,325
1, 800
250
6, 520
4,140
1,446
3.929
1, 795
255
6,480
4,245
319
5.030
2,005
240
6,895
4, 385
577
4,204
1, 960
285
6,880
4,460
1,346
3,628
1,795
305
6,340
3,990
29
4,625
1,930
290
7,440
4 750
1, 038
1,818
1, 675
205
6,970
4, 690
670
4,247
1,890
245
7,360
5 280
728
3, 457
1,795
240
6 920
4 850
622
4, 315
1,920
265
7 230
5 170
1,005
2,383
1,820
235
6 710
4 735
530
2,784
1,630
270
5 610
3 850
CO
3,347
242
4,042
71
do
22, 750
do
$ p e r l b _ _ 1.0140
67
22, 630
1. 1327
16
24, 875
1.2185
5
25, 620
1. 2105
54
25, 055
1.2289
43
27,028
1. 2098
49
25, 735
1. 2030
23,710
1.2106
98
22, 805
1.2308
3
22, 135
1. 2212
9
20, 510
1. 1719
1
20, 735
1. 1302
21
20, 225
1.1145
45
19, 695
1.0846
36.6
37.8
36.7
42.6
41.9
43.6
42.4
38. \
'44. 5
42.5
39 4
11 4
30 3
14 5
36 9
11 2
50 0
14 1
32 2
13 2
45 3
9 8
40 *?
13 8
o,« 9
40 n
7 4
18.2
8 6
20! 1
7 2
18.2
7 9
22! 7
7 9
20.1
54 5C)
9
8 a
21.8
20.8
16.8
36.3
Zinc:
Mine production, recoverable zinc
36.3
38.7
37.4
thous. sh. tons_38.9
36.0
Imports (general):
38.1
34 6
26.7
Ores©!
do
39 9
41 3
Metal (slab, blocks)
do
10.1
10.6
14.4
14.4
10.2
Consumption (recoverable zinc content):
7.4
Ores© _ _
do
81
7 6
8 7
7 6
16.1
Scrap, all types
do
14.9
18.4
19.6
19.8
T
Revised.
p Preliminary.
1 Recoverable aluminum content. Monthly data are
expressed in metallic content (incl. alloying constituents): aluminum content is about 93%
of metalic content.
2 Data are for Aug. and Sept. 1962.
3 Excludes consumption of
copper-base scrap.
§ Effective with the February 1962 SURVEY, figures for plate and sheet exclude shipments
581
402
235
r
158.9
97.3
Tin:
Imports (for consumption) :
Ore©
...Ig. tons-Bars, pigs, etc t
_.do
Estimated recovery from scrap, total©
do
As metal
_
_do
Consumption, pig, total
do __
Primary
.. _ do
Exports, incl. reexports (metal)
Stocks, pig (industrial), end of mo
Price, pig, Straits (N.Y.), prompt
r
T
532
414
233
r 60. 7
.2400
.30€)0
.0950
6 150
4 175
8 2
23
1.0846
n
1. 0876
c
of foil; comparable data back to January 1954 are available upon request.
©Basic metal content.
% Scattered revisions for 1960-Feb. 1961 will be shown later.
o" Consumers' and secondary smelters' stocks of lead in refinery shapes and in copperbase scrap.
SURVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
Monthly
average
November If)
1961
Sept.
Oct.
1962
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
Juno
July
Aug.
Sept,
O
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND PROD.— Con.
Zinc— Continued
Slab zinc:
Production (primary smelter), from domestic
and foreign ores
thous. sli. tons__
Secondary (redistilled) production
do____
Consumption, fabricators'
do
Exports
do
Stocks, end of year or mo.:
Producers', at smelter (AZI)
do
Consumers'
do
Price, prime Western (St. Louis)
$perlb._
HEATING EQUIPMENT, EXC. ELECTRIC
Radiators and con vectors, cast iron:
Shipments
mil. sq. ft. radiation-Stocks, end of vear or mo __
-do
Oil burners:
Shipments
._
thous__
Stocks, end of year or mo
-do
Stoves and ranges, domestic cooking:
Shipments, total (excl. liquid-fuel types)_._do
Gascf
do
66.6
5.7
73.2
6.3
70.6
4.6
77.6
4.2
63.0
5.0
83.3
3.3
75.8
5.6
89.3
2.7
76.7
5.2
83.5
1.3
80. 1
5.1
79.3
3.5
78.4
5.5
91.5
1.1
74.4
4.9
85.2
4.1
79.5
6.0
93.0
4.8
78.7
5. 1
86.4
6.5
78.9
4.1
91.1
2 5
68.9
4. 1
80.3
2 4
185. 9
68.9
.1295
145. 5
93.8
. 1154
165. 1
62.9
.1150
150.1
71.3
.1150
146.4
81.6
. 1150
151.2
90.6
. 1198
150.3
86.9
.1200
144.7
86.6
.1200
138.7
86.3
.1200
144.6
83.9
.1150
145. 3
76.1
. 1150
117.1
72.5
. 1150
66 8
40
66.7
2 4
69 1
37
79.4
16
162.4
72 8
. 1150
167.9
67 7
.1150
T
1.7
2.8
1.2
2.6
1.6
3.2
1.5
2.9
1.3
2.7
.9
2.6
1.1
2.5
1.1
2.6
1.0
2.8
.6
3.2
.8
3.4
1.0
3.4
.9
3.0
1.3
2.7
42.8
45.9
44.4
44.8
55. 1
43.8
62.4
41.8
46.1
41.4
37.4
44.8
31.2
49.9
32.3
52.2
39.8
55. 6
28.8
62.8
36.4
64.0
41.3
65.4
31.6
64. 1
50.1
62.2
151.8
148.5
155.8
152.5
190. 1
185.8
189.7
184.9
164.6
159.7
148.6
146.5
149.5
146 7
157. 6
155 0
175.6
172.7
163.2
159 7
168.3
165.5
167.4
164.4
142.2
139 3
182.0
178 4
21
168.9
159.
.1150
.Ill
Stoves, domestic heating, shipments, total- .do
Gasf
do
Warm-air furnaces (forced-air and gravity air-flow),
shipments, total t
thous
Gas
do
Water heaters gas shipments
_
do
154.7
100.9
145. 8
88.1
243.2
145. 3
290.3
177.5
167. 8
105.5
84.4
45.8
86. 1
49.6
79.8
42. 1
117.9
78.6
84.7
44.8
110.4
54.6
138.0
88.6
161.6
95.4
271. 2
147.8
104.8
78.9
208.2
102.9
80.6
204.7
149.4
112.0
182.1
152. 4
114.3
214.6
99.6
76.6
193.7
85.4
68.7
213.2
86.8
71.4
207.7
81.0
65.1
191.4
86.9
70.7
216. 0
90.5
75.1
201.8
98.7
81.6
195.8
107.2
88.5
232.2
111.8
89.9
201.2
134.5
105. 2
226.1
MACHINERY AND APPARATUS
Fans, blowers, and unit heaters, qtrly. totals:
1
38.5
*21.5
140.8
115.7
40.6
14.5
118.8
96.9
108.4
106.9
77.7
86.8
153.2
145. 3
98. 5
163. 4
114.3
182.5
324.6
161.2
114. 1
1.3
2.9
1.0
2.6
1.2
1.1
1.4
1.6
.8
2.6
.9
2.1
1.9
5.8
1.4
2.6
1.0
1.5
1.1
2.9
1.2
3.4
1.7
2. 1
12
39
1.2
1.6
1.0
1.6
99.2
103.1
103.4
89.6
95.3
86. 5
102.8
92.6
91.3
81.3
97.0
82.7
104. 5
75.8
108.5
79.7
115.8
101.5
115.6
107.5
131.3
107.9
129. 4
118.7
110 2
111 2
104. 7
119.2
<
TJnit-heater group new orders©
do
Foundry equipment (new) , new orders, net
mo. avg. shipments, 1947-49 =100__
Furnaces, industrial, new orders, net:
Electric processing
mil. $
Fuel-fired (exc for hot rolling steel) _
do _
39.7
16.9
41.5
13.6
46.0
18.4
Material handling equipment (industrial) :
New orders index*
_ _ 1957-59 =100. _
Shipments index*
do
Industrial trucks (electric), shipments:
Hand (motorized)
number __
Rider-type
do
Industrial trucks and tractors (gasoline-powered),
shipments
-- number--
461
470
385
380
377
349
495
370
272
292
336
383
333
327
357
326
506
523
541
388
535
533
492
560
568
524
517
420
528
506
1,885
1,639
1,735
1,987
1,031
981
1,328
1,278
2,185
2,180
2 272
2,641
2,368
2,681
2.525
Machine tools:
Metal cutting tools:
Orders new (net), total
Domestic
Shipments total
Domestic
Estimated backlog
-
41.90
29. 35
42.30
32.85
4.4
46. 35
31.40
42.30
28.60
5.0
55. 65
34.05
41.20
27. 10
5.7
47.30
28.55
45.15
28. 35
5.7
51.95
39. 80
48.10
32.20
5.5
44. 65
33. 50
57.25
39.55
4.8
42.05
34. 30
43.05
30. 65
4.8
33. 95
26.30
42.10
30.15
4.7
44. 60
35. 30
55. 40
38.65
4.4
43.70
34.45
48.70
35.30
4.3
51. 65
41.65
54.60
36.40
4. 1
50.00
40. 25
60. 00
41.90
3.9
46. 60 ' 38. 50
37. 45 r' 33. 20
39 45 r 39. 50
29. 65
28 95
^4.1
4 0
40. 25
32.40
44 45
33 95
4.0
12.50
12.00
4.2
10.90
12.40
3.6
10. 95
10.70
2.8
9.10
11.00
2.7
12.95
11.00
2.9
12.60
13.55
2.8
16. 70
10.25
3.3
15. 15
11.95
3.7
18. 75
12.00
4.4
16. 20
11.65
5.0
11.95
12.10
5.1
13. 40
13.70
5.0
14 00 M2. 50
12. 50 ••11.40
5.1
50
10 30
8.60
50
325. 4
81. 9
30.8
2
Metal forming tools:
Orders new (net)
Shipments
Estimated backlog
mil. $__
do
do
_ __
do
- months
_ __
.
mil $
do
months
Other machinery and equip., qtrly. shipments:
Construction machinery (selected types),
1252.2 1237.4
total 9
mil $
i 67. 5 159.4
Tractors tracklaying total
do
U6.2 i 18.6
Tractors wheel (con off-high w a v)
do
Tractor shovel loaders, integral units only
i 58 0 i 55. 2
(wheel and tracklaying types)
mil $
Tractors, wheel (excl. garden and contractors'
i
89. 4 i 107. 4
off-highway types)
mil. $__
Farm machines and equipment (selected types),
181.3
1
186.2
excl tractors
mil $
ELECTRICAL EQUIPMENT
Batteries (auto replacement), shipments
thous
Household electrical appliances:
Ranges (incl. built-ins), domestic and export
salesj
_
thous
Refrigerators and home freezers, output!
3957-59 = 100.
Vacuum cleaners (standard type), sales billed
thous_.
Washers, sales billed (dom. and export)© do
250.0
70.5
21.3
182.0
44.8
13.5
56.9
46.5
48. 1
67.8
68.9
79.9
132.2
153. 1
158.4
122.3
219.1
237.6
2,194
2, 359
2, 81 1
3, 215
2,855
3,010
3,219
2, 466
1,776
124.6
127.5
144.8
122.3
130.9
147.4
130. 3
133.6
156.7
104.5
107. 0
113.9
110.2
109.0
116.2
111.2
121.4
135.2
276.1
272.9
273.6
278.9
302.2
401.9
327. 6
321.9
300.8
286.2
269. 9
252. 4
301.0
263. 9
304.5
289.6
330.2
334.0
290.7
265.2
1, 427. 2 1, 447. 8 32,048.7
Radio sets, production§
do
514.8 3 694.6
475. 7
Television sets (incl. combination), prod.§.__do
Electron tubes and semiconductors, factory sales
78.4
89.5
82.6
mil. $._
Insulating materials, sales billed, index
146
134
137
1947-49=100
Motors and generators:
i 150
151
i 162
New orders, index, qtrly..
_do
New orders (gross) :
13.5
13.6
12.3
Polyphase induction motors, 1-200 hp._mil. $
2.4
2.3
2.3
D.C. motors and generators, 1-200 hp
do
r
3
1,796.4 1,730.8 3 1,845.2 1,350.6
620.8
583.0 3 580. 3 488.9
2 22 1
234.1
2 24. 9
2 38. 0
1,770
1,967
<• 2. 143
2 591
2,962
132. 5
137. 6
148.0
115. 1
129 9
154.4
134.0
122.7
144.7
116.9
75.6
123.0
282.9
296. 0
247.3
334.9
236. 8
264.2
301.5
348 7
355.1
389.2
1, 551
1,464.8 31,810.4 1,472.7
541.5 3 659.3
510. 6
1,444.1 31,721.9 1. 134. 2
336.4
474.6 3620.7
79.5
76. 0
72.9
73.1
85.9
77.2
77.0
80. 0
61.9
150
149
157
154
160
185
155
166
160
119
12.1
2.8
11.1
1.7
12.3
2.5
11.2
2.4
11.9
2.3
13.6
2.4
13.1
2.5
13.3
2.0
13.8
2.4
143
2
21. 5
20 4
80.0
2
Revised.
v Preliminary.
i Quarterly average.
Data are for month shown.
Data cover 5 weeks.
d Includes data for built-in gas fired oven-broiler units; shipments of cooking tops, not
included in figures above, totaled 26,300 and 31,500 units in July and Aug. 1962, respectively.
t Revisions for gas heating stoves (Jan.-June 1960) and warm-air furnaces (Jan. 1959-June
I960) are available upon request.
®Beginning 1961, excludes new orders for gas-fired unit heaters and duct furnaces; revisions for 1960 are shown in the Apr. 1962 SFRVEY.
*Revisions available back to 1954.
1
220.7
61 0
13.6
144
1,253.8 32,196.4 pl.794. '
500.7 3 731. 5 f 570. (
81.6
81.6
157
12.4
1.7
9 Includes data not shown separately.
{Revisions for 1960 appear in the Feb. 196'.
SURVEY.
^Note change in reference base; data prior to 1960 on 1957-59 base will be avail
able later.
OData exclude sales of combination washer-drier machines; such sales (incl. exports)
totaled 3,700 units in Sept. 1962.
SRadio production comprises table, portable, auto, and clock models; television set1
exclude figures for color sets. Data for Sept. and Dec. 1961 and Mar., June, and Sept. 196$
cover 5 weeks; other months, 4 weeks.
SUEVEY OF CURRENT BUSINESS
November t!)02
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960 1 1961
Monthly
average
S-35
1961
Sept.
Oct.
1962
Nov.
Dec.
Jan.
Feb.
Apr.
Mar.
May
June
Aug.
July
Sept.
Oct.
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production
_thous. sh. tons..
Stocks in producers' yards, end of mo
do
Exports
do
Prices:
Retail, stove, composite
$ per sh. ton-Wholesale, chestnut, f.o.b. mine,
do
Bituminous:
Production
thous. sh. tons__
Industrial consumption and retail deliveries,
total 9
thous sh tons
Electric power utilities
do
Mfg. and mining industries, total
do
Coke plants (oven and beehive)
do
Retail deliveries to other consumers .
do .
Stocks, industrial and retail dealers', end of
month, total 9
thous. sh. tons..
Electric power utilities
do
Mfg. and mining industries, total
_do __
Oven-coke plants _
do
Retail dealers
1, 568
315
120
27.67
13. 948
i 1, 454
193
9
1,394
293
19
151
28.14
13. 347
27.89
12. 950
1,603
297
141
28. 24
13, 370
1,501
276
224
28.24
13. 370
1,376
233
1,806
193
200
192
28.90
13. 930
29.08
13. 930
1,519
159
98
29.10
13. 930
1,509
149
1,254
156
178
29.10
13. 930
53
28.88
11 998
1,315
193
119
28.14
11. 998
1, 336
217
159
27.75
11 998
904
195
1, 325
171
1,190
159
195
301
173
34, 626
133,581
35, 409
39. 287
37, 078
35, 044
37,620
32, 970
36,170
34, 100
36, 720
37, 390
131,200
14, 969
113,856
1
6, 157
30, 633
14 797
13, 559
6,625
33, 367
15, 352
15, 052
7,069
34, 018
15 734
15,396
6,989
37, 290
17 007
16, 619
7,391
39, 437
17, 723
17, 120
7,641
34, 475
15 443
15, 490
7,046
35, 775
16 172
16,431
7,697
30 889
14 137
14,919
7 194
29, 852
15 134
13, 828
6,437
r
28 444 '27 940
14 987 T 15 332
12, 571 11, 579
5 479 r 5 140
2,534
2,311
2,173
2,860
2,789
3 645
4. 593
3, 541
3,169
1 794
798
69,126
47,618
20,970
9,680
72, 333
48, 244
23,216
11,287
70, 697
49,371
20, 710
9,135
72, 612
50, 268
21,714
9,813
73, 851
50, 421
22, 808
10 454
71,418
48 609
22, 283
10 393
66, 940
45, 298
21, 184
9,779
64, 523
43, 596
20, 521
9.408
63, 222
42, 194
20, 726
9 405
64, 185
43 171
20 718
9 431
66, 402
44 965
21,039
9 666
22. 040
796
69
46
22
10
327
782
079
355
28.09
28.11
12. 488 P 12 976
28. 00
12 488
231,702
2
14, 490
2 214, 425
6,751
r
r
r
38, 930
34, 055
947
1, 455
66, 098
45 153
20 468
r g 257
68, 489
47 340
20,619
8 277
693
538
616
630
622
526
458
406
302
296
398
466
477
530
2. 915
3 780
3,716
3 202
2 565
1,900
2.421
2 426
2 854
3 788
3 530
3 087
4 165
17.06
17. 12
17.04
17.29
17.33
17.33
17. 45
17.45
17.45
17.43
16.97
16 89
16 95
r
17. 00
17 31
8
5. 018
7. 541
5.016
7.470
5.016
7.590
5. 013
7.690
5. 013
7 690
5.016
7.717
5.018
7. 717
5.018
7 700
4. 932
4 7 329
4.932
7 164
4.914
7 179
4.914
7 271
4.914
r 7 300
p4. 914
P 7 559
5
4, 236
1,256
4 558
1, 183
73
81
4,864
1,292
94
5 091
1 334
5 274
1,319
92
4 822
1 270
4 868
1,218
5 155
1 338
4 928
1 170
4 453
1 337
42
3 788
1 392
3 552
1 339
r
48
3 692
1 369
3 691
4,398
3,030
1,369
1, 004
37
4, 101
2 772
1,329
1,095
4 024
2 790
1 228
1,068
4 032
2 820
1 212
1 063
45
3, 860
2,679
1, 181
1,062
23
3,761
2 614
1, 147
1, 053
59
4,035
2,764
1,271
1,081
35
3 637
2 501
1 136
1,071
3 651
2 507
1 144
1 031
3 774
9 623
1 150
1 014
3 832
2 697
1 135
1 012
3 978
2 838
1 141
1 048
4 065
2 971
1 094
1 010
1,874
2.97
246.0
83
1,821
2.97
248.9
82
1,676
2.97
239 3
1, 859
2.97
253. 5
1,956
2.97
258 9
1,926
2.97
265.3
80
82
2,031
2.97
246.1
1,553
2.97
242 0
298.3
305.9
292.7
308.2
214.6
28.4
218.5
29.9
209.8
28.0
220.9
30.4
31.0
24.4
-2.5
31.8
25.7
3.4
33 1
21.8
12.0
do
300.8
302.5
do ..
do
do
do
do
.3
5.9
294.6
.3
5.0
297.2
126.0
11.0
127.7
11.9
do
do
do
57.2
46.6
57.8
45.0
8.6
8.7
...do
_
do
do
3.6
8.7
3.5
9.0
18.9
do
5.164
7.690
COKE
Production:
84
Beehive
thous. sh. tons_
4,685
Oven (byproduct)
_ _ _
do
1,000
Petroleum coke§__
_. _ _ d o
Stocks, end of month:
Oven-coke plants, total
do
6 4, 152
6 2, 947
At furnace plants _
_ _ _
do
1,205
At merchant plants
_
do
Petroleum coke
do ... 1,159
29
Exports ._
. . do
573
75
39
78
100
16
22
4
76
39
57
28
53
31
40, 270
30, 074
16 288
12, 240
5,362
3,045
_
Exports
.
do
Prices:
Retail, composite
._$per sh. ton..
Wholesale:
Screenings, in dust, use, f.o.b. mine
do
Domestic, large sizes, f.o.b. mine . do
1, 574
3 949
50
4 17?
3 094
1 077
34
66
65
1,711
2 97
264 4
2,028
2.97
262 5
p 2 97
PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed
Price at wells (Okla.-Kansas)
Runs to stills
Refinery operating ratio
number..
$ per bbl__
mil. bbl._
% of capacity. _
_
Distillate fuel oil
Residual fuel oil. ._
Jet fuel
___
Lubricants
Asphalt
Liquefied gases
Stocks, end of month, totall
Crude petroleum
Natural-gas liquids
Refined products!
Refined petroleum products: J
Gasoline (incl. aviation) :
Production
_
1,732
2.97
258 8
302.2
319.2
335.2
297.8
326.3
311.2
312.6
305.4
313.7
319.5
214.6
31.0
226 6
32.4
227. 8
31.9
209 1
29.2
228 7
32.0
22] 7
30 3
223 0
30 4
217 7
29 1
224 0
31 0
224 2
30 4
33.6
23.3
12.6
30 1
26.5
-12.9
29 2
31 0
—28. 3
36 3
39 3
-37.1
31 6
27 9
-13.1
31 8
33 9
-10.8
32 9
26 9
19.8
34 2
25 1
14.6
33 8
24 7
14.1
35 9
22 8
17.6
40 3
24 5
17.3
280 7
295.7
315 0
347 5
379. 3
310 9
337 0
291 5
298 0
291 3
296 2
302 2
1
4.4
276.2
.2
5.2
290.3
4
5.0
309.6
3
1
1
2
1
3
f-\
130. 1
9.5
128.8
12.1
128.4
13.8
4 7
342. 6
125 8
17.8
4 7
367. 5
121 4
21.1
0
8
2
0
4 6
332.2
130 4
15 0
2
5
7
0
4
286
140
9
5
291
142
10
5
296
147
10
41.2
36.5
10 2
48.0
43.0
84
64. 1
48.3
8 4
87 7
55.0
8 6
101 1
63.9
9 5
82 4
50.4
7 3
75 5
55.6
96
53 7
40 5
89
44 6
38 6
10 0
40 0
34 5
10 4
40 6
33 7
3.8
12 7
19.5
35
7 6
21.7
31
39
26.5
3.5
3 4
29.6
35
36
20.8
36
4 8
22. 7
38
6 9
18 4
4 0
11 2
17 8
3 7
3
19.3
35
13 5
16.9
17 5
do
do
do
...do
790.2 ' 8 814. 3
249 4
248 0
28.4
35.9
513.9 8 529. 0
853 6
251 0
44.4
558. 2
866 2
°51 1
44.2
570.9
853 3
248 7
41. 7
563.0
825 1
244 7
37. 1
543.3
788 0
949 4
29.9
515.7
774 9
240 2
30 0
504.7
764 1
245 P
30 2
488.2
783 9
798 4
01 9 c
OO(\
32 8
495.2
35 3
507.4
37 3
527.4
39 1
548.6
40 3
563.5
...do...
126.9
127.6
123.3
.9
130.6
.6
128.2
.9
134.9
.3
139 8
.4
118.9
.4
129.9
.1
123.6
.6
131.9
.3
132.7
.6
139.7
.6
136.6
.8
188.9
12.7
189.5
13.3
173.3
11.7
173.9
13.1
174.0
12.8
184.2
11.7
195.6
205 7
206 0
200 4
192 4
185 5
183 1
173 0
(9)
86
5
305
109
16
82
81
4
286
129
10
9
4
5
6
83
5
292
140
9
86
r gS
85
2
8
5
4
2
0
0
5
9
o 7
0
2
8
°
6
36 6
35 0
101
3
0
1 0 0
19 0
-1
18 4
84.7 4
.116
.117
.105
.095
.105
.115
.110
.098
.090
. 115
.115
.120
.120
.120
P . 120
.210
.205
.199
.201
. 205
.204
.204
.198
.198
.195
.198
.198
.202
.216
.209
Revised.
p Preliminary.
Revisions for Jan.-June 1961 will be shown later.
2 Revisions for Jan.-Sept. 1960 appear in the Dec. 1961 SURVEY.
34 Monthly average based on Apr.-Dec. data.
Data beginning April 1962 are not entirely comparable with earlier data; March 1962
prices
comparable with later data: Screenings, $4.932; domestic, $7.882.
5
Revisions for Jan.-May 1961 will be shown later.
6
Revisions for Jan.-Aug. 1960 appear in the Nov. 1961 SURVEY. « Less than 50,000 bbls.
8
See note marked "1".
2,126
2.97
256 3
86
Stocks, end of month:
Finished gasoline
do ...
Unfinished gasoline
do
Prices (excl. aviation):
Wholesale, ref. (Okla., group 3)
$ per gal__
Retail (regular grade, excl. taxes), 55 cities
(1st of following mo.)
$ per gal..
r
1
1,527
2.97
243 0
84
All oils, supply, demand, and stocks: J
New supply, total
mil. bbl__
Production:
Crude petroleum
do_._
Natural-gas liquids, benzol, etc
do
Imports:
Crude petroleum.. _
do _.
Refined products
do
Change in stocks, all oils (decrease,—)
do
Demand, total
Exports:
Crude petroleum
Refined products
Domestic demand, total 9
Gasoline
Kerosene
82
1, 546
2.97
254 0
9
.207
Beginning January 1962, data for unfinished gasoline are no longer shown separately
but are included with unfinished oils.
9 Includes data not shown separately.
§Includes nonmarketable catalyst coke.
t Minor revisions for Jan. 1959-Nov. 1960 for various items will be shown later.
1 Beginning Jan. 1961, data for the indicated items include stocks formerly excluded.
Dec. 1960 data on revised basis may be derived by adding to the published totals and individual stocks the following amounts (thous. bbls.): Jet fuel held by pipeline companies,
414; bulk terminal stocks—lubricants, 2,429; asphalt, 2,849; miscellaneous oils, 131.
SURVEY OF CURRENT BUSINESS
S-36
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
Monthly
average
November 100
1961
Sept.
Oct.
19G2
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products—Continued}
Aviation gasoline:
Production
. .mil. bbl._
Exports
do
Stocks, end of month
_
do__.
Kerosene:
Production
do
Stocks, end of month
_
do
Price, wholesale, bulk lots (N.Y. Harbor)
$ per gal. _
Distillate fuel oil:
Production
mil. bbl
Imports
do
Exports
do
Stocks end of month
do
Price, wholesale (N.Y. Harbor, No. 2 fuel)
$ per gaLResidual fuel oil:
Production
mil bbl
Imports
do
Exports
-- do
Stocks end of month
do
Price wholesale (Okla., No. 6)
__$perbbl__
Jet fuel (military grade only) :
Production
- - -- mil. bbl_.
Stocks end of month
do
Lubricants:
Production
do
Export^
do
Stock^ end of month
do
Price, 'wholesale, bright stock (midcontinent,
f o b Tulsa)
__$pergal_.
Asphalt:
Production
mil. bbL..
Stocks end of month
do
Liquefied petroleum gases:
Production
do
Transfers from gasoline plants
do
Stocks (at plants, terminals, underground, and
at refineries) end of mo
mil bbl
Asphalt and tar products, shipmentsAsphalt roofing total
thous squares-.
Roll roofing and cap sheet
- do
Shingles all types
do
\sphalt Aiding
Insulated sidin<r
Saturated felts
do
do
thous sh tons -
9.5
.8
13.5
9.7
.6
11.7
9.9
7
10.6
9.9
5
11.3
9.1
.8
11.1
10.0
2
11.6
9 2
3
10.9
9 2
3
11.3
9.9
1
11.2
9 7
4
10.6
11.1
2
10.3
10 8
5
10 6
10.3
5
10.2
11.0
5
9.8
11.3
28.7
11.8
31.0
11.3
35.9
13 1
37.3
12.4
36.2
13 6
32.4
14 5
26 4
14 7
25.3
12 7
23.3
11 1
24.2
11.4
27.3
11 5
30 1
13 2
33.2
12.5
35.7
.104
1.109
.108
.108
.108
.113
.113
.113
.110
.104
.104
.099
.099
.099
55.6
1.1
.8
127.9
58.0
1.3
.6
127.6
54.6
1.4
.3
165.4
59.9
1.2
.7
177.9
59.5
1.4
.6
174.2
63.7
2.4
.7
152.0
68 4
2.3
8
121.0
61.2
.6
62.1
.7
.9
86.5
54 3
1.5
5
88.3
57.5
1.5
.4
102.3
58 5
10
3
121 5
59.3
.7
.4
140.6
59.0
.5
.5
163.0
.094
1.099
.098
.098
.098
.103
.103
.103
.100
.094
.091
.086
.086
.086
P. 086
27.7
19.4
1.5
45.1
1.69
26.3
19.6
1.2
45.8
1.58
23.9
14.8
.9
50.3
1.45
25. 1
17.4
1.2
49.0
1.45
25.7
21.0
1.0
46.7
1.45
30.0
24.1
1.3
44.9
1.55
30.4
31.0
1.2
41.6
1.55
26.5
22.9
1.6
39.5
1.65
26.9
27.5
1.4
37.1
1.65
22.9
20.4
1.0
39.3
1.65
23.3
18.2
1.5
41.0
1.55
22 2
16 8
.8
44 9
.155
23.2
17.0
1.0
50.7
.155
22.9
16.3
1.1
54.1
1.55
pi. 55
7.4
6.6
7.9
7. 6
8.0
7.9
7.5
7.7
8.2
7.8
8.5
8.3
7.6
8.1
7.1
8.1
8.6
8.3
8.6
8.5
9.2
8.3
9.0
82
8.4
8.1
9.7
8.7
4.9
1.4
12.7
4.5
12
12.4
5.1
1.4
12.3
5.0
1.5
12.3
4.9
1.2
12 9
5.0
1.3
13.1
4.7
.9
13.4
5.0
1.2
13.6
5.3
1.8
13.3
5.0
1.7
12. 7
51
1. 5
12 5
5.3
1.6
12.5
5.0
1.5
12 °
.260
.260
.260
.260
.260
.260
.260
.260
.260
.260
.260
.260
.260
8.5
16.0
10.9
12.1
10.5
10.5
7.6
10.9
5.8
13.0
4.8
14.7
5. 1
16. 6
7.0
19.0
8.5
20.8
11.3
21.3
11.7
19.9
12.7
18.4
12.7
14.4
6.5
12.7
6.6
13.1
5.9
11.3
6.3
13.6
6.6
15.6
7.1
19 2
6.5
22.4
6.0
14.6
6.7
15.8
6.3
12.5
6.7
12.0
6.5
11 7
6.7
12.6
6.3
12 2
24.2
34.4
43.7
44.0
41.9
36.4
28.2
27.7
27.7
30.4
33.5
35 8
37.6
4.9
1.3
9.4
2
2
.257
8.2
12.8
2
100.0
4,997
1,813
3,184
5,131
1,778
3,352
6. 813
2,389
4,423
7,072
2,450
4,622
4. 435
1. 558
2,876
3,310
1,219
2,092
5,119
1,771
3,348
2,531
903
1,628
5,814
1,584
4,229
4. 396
1. 641
2.755
5,181
1,685
3,316
6.250
2,140
4,110
73
94
82
71
85
77
92
105
98
103
112
104
82
76
73
52
43
63
75
32
97
36
38
48
62
59
78
50
79
83
58
102
87
61
99
94
P. 099
P. 260
39.4
r
6,421
6, 289
6, 964
2,262 ' 2, 501 2,428
4,027
3,993
4,463
68
99
89
83
116
97
83
100
90
3,503 r 4, 197
3,344 'r 3, 870
5, 321
5,002
3,480
3,500
5, 309
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
Consumption
Stocks end of month
thous. cords (128 cu. ft.)__
do
do -~
Waste paper:
Consumption
Stocks end of month
_ _ thous. sh. tons._
_
_
do
753
550
751
517
WOOD PULP
Production:
Total all grades
- thous. sh. tons. _
Dissolving and special alpha
do
Sulfate
do _-.
Stilfite
- __do
2,110
95
1,216
215
Groundwood
Defibrated or exploded
__
Soda semichem screenings, etc
Stocks, end of month:
Total all mills
Pulp mills
Paper and board mills
Nonpaper mills
do
do
do
do .._
-do
do
- do
3, 855
3, 851
5,820
3,498
3,731
5, 521
3,258
3,379
5,495
3, 573
3,677
5,270
3,793
3,578
5,522
3,830
3,834
5,493
3,353
3,689
5,116
3,694
3,894
4,915
3,697
3,373
4,852
790
479
816
498
770
509
710
562
780
494
729
481
795
479
760
496
111
493
762
494
672
507
2,210
100
1, 285
214
2,158
82
1,288
195
2,415
118
1,414
230
2,363
106
1,402
226
2,093
106
1,201
206
2,273
113
1,339
222
2,234
102
1,334
212
2,410
119
1,413
220
2, 345
105
1,368
221
2,464
111
1,447
223
2,368
106
1,390
215
2,118
86
1,242
193
274
100
209
267
102
242
254
108
230
282
116
256
274
105
251
257
89
234
274
99
226
275
93
218
289
110
260
275
110
265
295
116
272
288
112
258
260
101
237
295
' 114
273
270
105
268
902
299
529
74
899
326
509
64
878
315
506
58
879
317
506
55
879
305
509
65
867
292
506
68
836
280
491
64
837
284
488
66
882
298
511
72
872
295
504
73
898
324
499
75
904
329
500
75
881
297
511
73
916
321
522
74
873
290
513
69
3,448 ' 3, 465 3,546
3.436
3,374 r 3, 516
5,769
5,483
5,772
r
778
493
738
476
2, 471
110
1,452
226
2,237
98
1,302
195
Exports all grades total
Dissolving and special alpha _
All other
do
do
do
95
34
61
98
36
62
79
26
53
94
38
56
95
43
53
98
40
58
85
34
51
99
47
52
83
32
51
87
38
49
113
45
67
106
35
72
96
38
58
101
49
52
100
35
65
Imports all grades total
Dissolving and special alpha
All other
do
do
do
198
15
184
206
13
192
198
16
183
225
17
207
231
14
217
210
12
198
219
16
203
238
18
220
233
25
208
234
28
207
231
21
210
241
23
218
209
23
186
242
23
219
223
21
202
3,012
2,965
1,312
1,293
1,370
1,429
11
13
270 1
280
3,290
1,446
1,528
10
305
3,127
1,355
1,493
11
268
3,139
1,396
1,458
11
274
S-35.
3,278
1,440
1,534
12
293
3,180
1,370
1,514
12
284
2,838 r' 3, 298
1, 404
1,216
1,342 r 1, 572
11
8
272
'311
3,069
1,316
1,454
11
287
PAPER AND PAPER PRODUCTS
All paper and board mills, production:
Paper and board, total
thous. sh. tons..
Paper
- - do
Pauerboardr
-_
_
do
Wet-machi ie board
do
Construction paper and board
do
2,870
1,283
1,306
15
266
r
Revised. » Preliminary.
i Prices beginning Jan. 1961 not strictly comparable with earlier data.
2,843
3,139
3,013
3,277
1,305
1,395
1,441
1,326
1,476
1,303
1,431
1,546
11
11
12
12
224
257
245
277
2 See note marked" V' on p.
JSee similar note on p. S-35.
Oct.
SURVEY OF CURRENT BUSINESS
November 1062
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1962
1961
1961
Monthly
average
S-37
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS— Con.
Paper, exc. building paper, newsprint, and paperboard (American Paper and Pulp Assoc.):
Orders, new9t
thous. sh. tons
Orders unfilled end of month 9 1
do
'905
'682
1925
1608
1, 191 ' 1,063
'872
'983
1948
1921
'972
r
638
926
682
959
653
945
661
1,064
691
978
639
948
644
1,061
697
967
722
1,079
729
991
711
1,022
667
do
do
1 118
922
1 141
941
1 134
940
1 264
1,024
1 180
974
1 144
958
1 215
988
1 158
953
1 263
1 054
1 227
1,001
1 260
1 039
do
do
144
79
157
84
148
74
159
76
157
75
149
69
168
91
160
97
181
101
164
97
163
85
148
145
160
156
162
154
167
158
166
158
164
155
162
165
159
153
175
178
171
165
398
396
402
368
398
362
445
376
400
338
416
360
440
355
428
397
478
415
389
391
389
388
398
397
427
426
401
404
397
400
422
422
402
402
449
449
16.85
16. 95
16 95
16. 95
16.95
16.95 216.53
16.61
16 71
321
161
334
154
335
170
382
184
348
176
320
161
373
193
314
175
347
160
324
149
340
139
r
r
do
do
333
325
331
330
319
399
368
368
349
347
329
337
346
333
335
332
354
351
342
337
362
354
do
do
562
563
209
561
559
225
548
555
217
5P6
590
224
594
619
199
528
560
167
554
498
993
515
469
268
578
532
315
5?5
543
296
do
do
do
170
169
34
174
< 174
MO
164
173
40
183
179
44
178
185
37
163
167
33
1^5
175
43
169
170
42
187
186
43
173
461
455
451
512
499
473
434
415
634
620
664
623
612
584
585
586
451
Imports
__ _. __ _.- _ _ _ do _
Price, rolls, contract, delivered to principal ports
$ per sh. ton__ 134.40
455
449
461
507
456
446
134. 40
134. 40
134.40
134. 40
134. 40
1,321
427
1,326
89
1, 400
461
1,394
91
1,487
571
1,443
92
1,517
522
1, 540
98
1, 450
485
1 492
95
9,078
9,563
10, 576
10,660
124.0
124.0
130.0
135.8
Production^
Shipments 9 1
Fine paper:
Orders new
Orders unfilled, end of month
Production
do
Shipments
do
Printing paper:
Orders, n e w
_ _
_ _ _ _ _ do_
Orders unfilled end of month
do
Production
do
Shipments
do
Price, wholesale, book paper, "A" grade, English
finish white, f o b. mill
$ per 100 Ib
Coarse paper:
Orders new
thous. sh. tons
Orders, unfilled, end of month _
do
Production
Shipments
Newsprint:
Canada (incl. Newfoundland):
Production
Stocks at mills end of month
United States:
Production
Shipments from mills
Stocks at mills, end of month ___ _
Consumption by publishcrsc?
do
Stocks at and in transit to publishers, end of
month cf
thous sh tons
Paperboard (National Paperboard Assoc.):
Orders, new
_ _ ___
thous. sh. tons
Orders unfilled, end of month
do
Production total
do
Percent of activity
Paper products:
Shipping containers, corrugated and solid fiber,
shipments!
mil. sq. ft. surf. area-Folding paper boxes, shipments, index of physical
volume
- 1947-49=100.
4
3
r
T
167
86
' 149
'97
154
87
174
164
169
162
r
143
145
170
167
429
409
435
385
'405
r
356
r
390
375
410
369
423
423
440
440
r
T
418
419
'364
365
421
421
16 44
16 50
16 50
16 50
16. 50
r
T
r
"16 50
295
142
361
152
r 329
r 295
r 321
r 292
357
333
574
601
269
566
573
261
527
529
260
568
575
252
552
558
246
36
190
187
39
188
182
44
165
169
40
188
182
47
171
179
39
481
487
499
457
423
442
479
587
550
547
557
587
621
599
394
439
426
484
499
453
459
418
134.40
134. 40
134. 40
134. 40
134. 40
134 40
134 40
1,354
445
1,371
82
1,381
473
1,354
91
1,401
483
1 389
96
1, 588
466
1 603
97
1 , 432
468
1 439
94
1 563
460
1 583
95
1 530
451
1 539
97
1 356
496
1 281
80
10,006
9,000
9, 523
9,036
11,145
9,463
10, 442
10, 362
9,207
128.0
123.1
118.5
115.5
127.5
118 9
129 6
125 7
r H4 1
33 50
69 75
37 09
.273
37 23
68 75
35 40
.274
35 95
74 06
33 29
.274
126. 80
180
325
140
134 40 v 134. 40
1 433
486
1 409
92
1,6' »8
493
1 610
96
11,421
10,360
11,546
r 13Q 9
p 117 9
1 594
476
1 608
98
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
thous. Ig. tons
Stocks, end of month
do
Imports, incl. latex and guayule_
do. __
Price, wholesale, smoked sheets (N.Y.)_..$ per lb__
Synthetic rubber:©
Production _ __
Consumption
Stocks, end of month
Exports
-.
Reclaimed rubber:
Production
_
Consumption
Stocks, end of month
39.92
78.48
34.23
.385
35.61
68.65
32.59
.296
37. 12
63.81
29.29
.305
40. 19
62.38
40-65
.295
38.31
63.07
36. 71
.274
36.40
68.08
39. 07
.278
40 47
69.74
41.46
.280
36 18
69 59
32 78
.283
39 63
69 52
29.97
.286
37 47
68 51
33 20
.289
40 45
64 98
37 84
.298
39 40
62 50
28 69
.283
thous. Ig. tons. - 119.70
89.94
do__
232. 52
do
28.74
do
117.00
91.85
245.55
24. 75
116.61
94.90
240. 87
22.90
133. 79
106.51
242. 94
24.72
129. 62
100.83
244. 89
24.42
138.49
97.58
256.24
27 W>
127. 93
107. 07
247. 99
22 05
127. 17
95 85
255. 02
24 43
138. 52
103 89
261.84
27 99
130. 25
100 ?7
261.88
25 80
131. 95
109 72
259 18
21 90
124. 61
107 76
254 62
26 38
do
do
do_
24.40
23. 04
32. 02
21.99
20.86
32.15
20.68
20.62
31.83
23. 24
22.56
31.69
22.34
21. 12
30.03
21.61
20 17
30.83
25.14
23 21
30.54
22 30
21 01
30 27
24 38
22 64
30 89
23 17
22 24
30 85
24 10
22 87
28 59
25 22
23 34
29 66
thous
_
_
11
76
94
77
r]()3 25
r
256 65
29 38
129. 83
100 17
256 26
32 71
19 76
18 83
29 29
22 78
21 01
28 67
22 20
20 70
28 93
125
90
263
24
.288
TIRES AND TUBES
Pneumatic casings:
Production
9,987
9,728
9,893
11, 150
10, 329
10 483
11,501
10 369
11 278
10 906
11 712
11 959
10 411
10 722
10 651
Shipments, total
Original equipment
Replacement equipment
Export..
_ ___
do
do
do...
do_ _-
9,975
3, 350
6,482
143
9,859
2,838
6,908
114
9,988
2,620
7,239
130
11, 109
3,429
7,518
162
9, 739
3,841
5,789
109
9,176
3, 689
5, 349
139
10, 977
3,534
7,333
110
9 036
3,227
5,680
129
10 915
3,657
7,149
109
11 565
3, 735
7 717
113
12 084
3,958
8 002
123
11 873
3,' 406
8 357
110
11 941
3, 336
8 492
113
10 202
1,531
8 531
140
11 ^08
3,307
7 731
170
Stocks, end of month
Exports (Bur. of Census)
do. _
do
26, 558
117
26, 128
81
24, 096
91
24, 195
85
24, 916
66
26. 367
76
26, 800
73
28 109
64
28 523
86
27 838
75
27 506
86
27 627
91
26 031
99
26 533
103
26 079
111
do
do_ do_ _
do
3,415
3, 399
10,348
107
3, 124
3,282
9,146
66
3,081
2, 856
8,890
64
3,560
3,435
9,096
76
3,232
2,903
9,458
54
3, 002
2,888
9,784
61
3,691
5,367
8,062
81
3,605
3 679
8,131
50
4,009
3 582
8,714
109
3,413
3 240
8 794
83
3,427
3 223
9 075
69
3,277
3 393
9 066
96
3,116
3 280
8 907
86
3,026A
3 ^1
8 772
80
Inner tubes:
Production
Shipments
Stocks, end of month,
Exports (Bur. of Census)
_ _
„
r
Revised.
v Preliminary. 2 J Data for indicated items exclude estimates for tissue
and special industrial paper.
Beginning Jan. 1962, on revised basis (cash discount3 deducted); not comparable with earlier data. Jan. 1962 price
on old basis, $16.95.
Not
4
entirely comparable with data prior to month noted.
Includes Alaska and Hawaii
beginning July 1961.
9 Data exclude estimates for "tissue paper."
J Revisions will be shown later as fol-
3,108
o 074
8 963
90
lows: Paper, excl. bldg. paper, etc., Jan.-Dec. 1960; shipping containers, Jan. 1959-Mar
1961.
cT As reported by publishers accounting for about 75 percent of total newsprint
consumption in 1961. Alaska and Hawaii are represented beginning Jan. 1901.
0 Revised effective with the June 1962 SURVEY to include data for stereo and other elastomers (except polyurethane rubbers) as follows: Production and consumption, beginning
Jan. 1961; stocks, beginning Dec. 1960.
SUEVEY OF CUERENT BUSINESS
S-38
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
1961
Monthly
average
November 190
Sept.
Oct.
1962
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
thous. bbl__ 26, 588
75
thous. bbl.- 26, 244
26, 950
74
26,889
31, 474
87
33, 468
32, 348
87
35, 681
27, 625
77
25 692
23, 393
63
17, 485
17, 051
46
13, 669
15, 309
45
14, 477
20, 454
54
21, 269
28,089
27, 990
33, 719
88
33 677
32, 304
88
33 625
33 388
86
35 611
36 132
93
40 669
33,669
90
33,120
_ _ _ _ do _ _ 35, 512
25, 532
do
35, 879
25, 020
31, 785
18, 704
28. 437
16, 204
30 382
16,913
36 343
19, 531
39, 792
24, 758
40, 626
28, 956
39, 817
32, 891
39, 958
32, 767
40 076
30, 031
38 684 r36 453
27, 942 95, 189
31 916
20 480
32 513
17,831
541.8
40.7
154.5
535. 6
39.7
145.8
591.5
37.9
167.2
647.4
43.0
176. 5
550.1
39.1
134.8
387.4
30.9
98.1
319.0
28.4
81 6
358.4
27.8
87.6
503.5
31.3
125. 7
649.9
35.2
159.3
725.8
39.0
175 8
33.9
35.3
35.5
39.0
37.3
28. 8
26.5
23.2
29.1
34.9
36.5
19.4
19.0
20.6
20.8
20.0
16. 5
17.8
17.7
20.8
20.3
22.6
103.5
103.8
104.2
104.1
104.1
104.1
104.2
104.9
105. 1
105.1
104.9
104.9
Flat glass, mfrs.' shipments (qtrly. total and qtrly.
average)
thous $ "70,482
«26,619
Sheet (window) glass shipments
do
43, 863
Plate and other flat glass, shipments
_ do
65, 113
27, 743
37, 370
67 709
30, 631
37. 078
Glass containers: {
Production
thous. gross.- 13, 358
13, 957
13, 761
14,717
12, 769
11, 949
13, 482
13, 103
14,480
14,016
15,209
15, 978
15, 753
16, 327
14,515
12, 890
13, 633
13, 713
13. 747
12, 840
12, 225
12, 623
11, 905
13,975
13, 452
15,090
15, 535
14,113
17,312
16, 328
1,469
1,492
2,341
1.421
1,190
1,016
1,163
1, 173
1,396
1,251
1,256
1,487
1,606
3.082
2 845
3,698
3,904
4,153
4,284
3,926
3, 656
3, 859
3, 559
3,886
3, 492
4,126
4,139
3,968
5 035
4 517
do
do
_ do- -
958
1,376
1,243
1,007
1, 807
1,289
750
1,515
1, 257
776
1, 464
1, 656
814
1, 380
1,390
1,131
1,512
1,173
745
1,492
1,164
859
1,354
1, 122
1, 169
1, 939
1,377
1,568
2,071
1,196
1 707
2, 651
1,261
1,717
2,929
1,284
1,389
2,705
991
1 104
2 391
1,296
758
2 811
1,326
__do
do
_ do.
2,901
1,095
151
2,985
1,007
142
2, 642
892
163
2,987
1,009
150
3,151
845
144
2,854
734
149
3,219
842
139
2, 964
764
110
3,277
811
120
2, 966
796
112
3,097
869
123
3, 035
826
118
2,618
724
112
3 357
879
168
3,123
778
170
do
20, 705
21, 582
21. 415
22, 054
21, 706
21,157
21,789
22, 779
23, 066
23, 256
23, 205
23, 392
24, 656
23 394
21,195
1,326
"2,456
1,242
2,376
1,422
2,605
1,240
2, 404
1,019
2,038
1 364
2, 609
2 148
2 062
2 282
2 055
1 916
2 312
«930
71
981
65
1,179
65
1,049
65
643
67
1 132
68
299
299
256
264
281
303
240
250
226
207
273
271
411.6
477 6
1,458.6 1, 483. 9
56.6
59 4
466. 9
1,651.4
63.8
13. 711
Production, finished cement
Percent of capacity
Shipments, finished cement
Stocks, end of month:
Finished
Clinker
CLAY CONSTRUCTION PRODUCTS
Shipments: t
Brick, unglazed (common and face)
mil. standard brick. _
Structural tile, except facing
_ thous. sh . tons_.
Sewer pipe and fittings vitrified
do
Facing tile (hollow), glazed and unglazed
mil. brick equivalent. Floor and wall tile and accessories, glazed and unglazed
mil. sq. ft._
Price index, brick (common), f.o.b. plant or N.Y.
dock
1957-59=100.-
r
676. 6
39.2
170 0
715.5
37.5
186 7
35.5
37.4
42.9
22.0
21.0
24.8
104 9
104.9
668.7
36.1
172 5
104.9
GLASS AND GLASS PRODUCTS
Shipments, domestic, total
- - - do
General-use food:
Narrow-neck food
do
Wide-mouth food (incl. packers' tumblers,
jelly glasses and fruit jars)
thous gross
Beverage
Beer bottles
Liquor a n d wine
_ _ _
_
-
Medicinal and toilet _
Chemical, household and industrial
Dairy products
Stocks, end of month
_ _
71, 840
31,803
40, 037
74, 658
32, 144
42, 514
64 354
26,613
37,741
69 574
32' 677
36' 897
GYPSUM AND PRODUCTS
Crude gypsum, qtrly. avg. or total:
Imports
thous sh tons
Production
do
Calcined production qtrly avg or total
do
Gypsum products sold or used, qtrly. avg. or total:
Tin calcined uses
thous sh tons
Industrial uses
do
Building uses:
Plasters:
Base-coat
do
All other (incl Keene's cement)
do
Lath
W^allboard
All other§
mil sq ft
do
do
380. 6
1, 528. 5
54.0
335.5
1, 395. 1
46.2
426.4
1,736.4
67 1
TEXTILE PRODUCTS
APPAREL
Hosiery, shipments
Men's apparel, cuttings: IcT
Tailored garments:
Suits
Overcoats and topcoats
thous. doz. pairs.. 12,600
. thous units
_ do.
Coats (separate), dress and sport___
_do
Trousers (separate), dress and sport
do
Shirts (woven fabrics), dress and sport.thous. doz_
Work clothing:
Dungarees and waistband overalls
do
Shirts
_do
14, 008
14, 628
16,114
15,618
1
12,267
14, 678
13, 958
14, 952
13, 124
14,310
14, 680
12, 428
17, 236
1,881
1,873
1,796
1 649
1 200
2 002
?
533
760
1,354
10,028
2,208
1,786
1.597
435
i 1, 585
1470
1,744
244
i 1, 880
1200
1,726
360
1,J 835
345
1,696
375
214
281
841
8,262
1,942
957
7,465
1,872
1820
17,615
i 1, 935
1,076
7, 936
2,020
i 1, 160
i 7, 445
i 2, 285
1,112
7,016
1,984
i 1,335
i 8, 160
i 2, 155
1,115
8,514
2,137
1,265
9,849
2,258
1,234
8,824
2,042
1,214
9,312
2,245
1,187
9,075
2,003
7, 559
1,563
284
295
308
308
332
315
303
304
1320
1330
320
320
1310
1350
264
301
288
1305
1295
325
324
Women's, misses', juniors' outerwear, cuttings:cfA
Coats
thous. units_. 1,952
20,888
Dresses
do
809
Suits
do
2,029
21, 192
2, 155
17, 642
2,576
21, 448
2,467
20, 922
231
820
1,340
Waists, blouses, and shirts
thous. doz__ 1,288
712
Skirts..
do
708
T
Revised.
i
Data
cover
a
5-week
period.
a
Revisions for 1960 are shown in the Apr. 1982 SURVEY.
^Revisions for Jan.-Mar. and Apr.-June 1961 will be shown later.
§ Comprises sheathing, formboard, and laminated board.
582
1,215
612
370
338
660
768
1,658
16,848
682
2, 009
20, 096
1,098
2,437
21, 482
1,140
2, 566
26, 654
1,109
1,275
26, 143
1,413
1,321
1, 003
1, 297
1, 508
1, 656
1,557
712
654
673
470
331
1,223
27, 130
583
1,566
500
354
326
2,064
20, 800
815
1,237
r
387
256
334
2,274
17, 782
2,688
21 804
726
1,226
728
1 321
412
583
661
740
757
905
780
804
905
IData for Sept. and Nov. 1961 and Jan. 1962 cover 5 weeks; other months of 1961
cover 4 weeks. Beginning Feb. 1962, the data are calendar-month totals.
cf Revisions for Jan. 1959-Aug. 1960 are available upon request.
AData beginning Jan. 1962 are based on revised sample panel. For coats, blouses, and
skirts, the revised figures beginning Jan. 1962 are at least 5% higher, when comparing estimates for Jan.-June 1962 on the new and old bases.
SURVEY OF CURRENT BUSINESS
ovember 1962
nless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
Monthly
average
S-39
1962
1961
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
1,501
4 681
Oct.
TEXTILE PRODUCTS—Continued
COTTON
otton (exclusive oflinters):
Production:
Ginnings§thous.running bales_„ 1 14, 265 1 14, 325 2 683
Crop estimate, equivalent 500-lb. bales
thous. bales.. 1 14, 272 1 14, 3 18
Consumption^?!
__
Stocks in the United States, end of mo.,
total}:
Domestic cotton, total
On farms and in transit
Public storage and compresses
Consuming establishments
Foreign cotton, total
do_.
do..
do..
do..
do.
do..
do.
Exports
Imports*
Prices (farm), American upland
cents
Prices, middling 1", avg. 14 marketsd"
Jotton linters:
Consumption!!
Production
Stocks, end of mot
8 675 11,687
2
12,638
3
13,996
287
4
711
4 847
716
4875
664
868
717
730
*867
713
709
14, 447 13, 442
14, 376 13, 368
3.698 3,815
9,159
7,742
1,520 1,811
70
74
18, 947
18, 842
12 372
4,870
1,600
105
17, 941
17, 832
7 803
8,489
1, 540
109
16, 669
16, 569
4.227
10, 671
1,671
100
15, 473
15, 380
1,958
11,664
1,758
93
14, 231
14, 146
1,136
1 1, 079
1,931
84
13, 126
13,046
573
10, 407
2,066
81
12,012
11,940
417
9,387
2,136
72
10, 849
10, 785
354
8,336
2, 095
64
9,783
9,730
304
7,446
1,980
52
8,654
8,606
189
6,656
1,761
48
301
7
33.9
33.6
402
2
33.1
33.6
537
3
31.8
33.6
382
5
30.4
33.6
396
5
29.1
33.7
392
5
29.4
33.8
303
4
31.8
33.8
361
3
32.7
33.9
425
1
32.6
34.1
in
* 130
227
519
109
187
559
105
174
660
111
156
691
*125
124
694
106
85
655
104
58
599
18, 978 18.987
17,105 17,107
9,597 *11,66S
480
467
8,622 410,535
18. 806
16. 901
9, 501
475
8,506
18, 817
16, 869
9,510
476
8,481
.670
.941
.661
.938
.661
.938
725
do___
do
perlb_
do__.
628
12
30.1
31.4
533
14
31.0
32.2
thous. bales.
do.._
do___
113
134
543
109
130
544
322
24
32. 8
33.4
r4
126
105
357
9 156
7
221
429
4
129
194
623
4
693
692
14, 533
661
7,850 21, 304 20,761
7,808 r 21, 187 20, 637
190 13 357 10, 877
6,100 r 6, 597 8,631
1,129
1,518 1.233
T
124
42
117
141
89
32.6
33.4
164
24
33.2
33.0
105
69
524
101
156
538
18,761 18, 798
16, 773 16, 731
9, 697 9,432
472
388
4
8, 621 8,382
18,689
16, 543
9,131
457
8, 03-1
465
1
32.6
34.0
4
84
51
576
32.6
33.0
COTTON MANUFACTURES
Spindle activity (cotton system spindles) :Jt
Active spindles, last working day, total -.thous._
Consuming 100 percent cotton
do
Spindle hours operated, all fibers, total
mil.
Average per working day
do
Consuming 100 percent cotton
do
19, 269
17,592
10,008
463
9,161
Cotton yarn, natural stock, on cones or tubes:
Prices, f.o.b. mill:
20/2, carded, weaving
$perlb_.
36/2, combed, knitting
do
.665
.938
.647
.926
.660
.934
2,341
2,292
2,204
13.6
11.8
4.5
19. 089 19,017 19, 009 18, 971 18,990
17,313 4 17, 205 17,181 4 17, 120 17,127
9, 685 11, 872 8,875 11, 661 9,574
475
484
466
444
479
8,782 no, 753 8,019 ' 10, 513 8,615
4
.670
.958
.670
.958
11.9
10.8
12.3
11.9
11.4
11.0
5.0
5.0
4.9
4.8
4.9
5.0
40, 518 39, 726 39, 648
21, 280 23, 366 34, 281
32, 701
48, 690
38, 948 42, 637 39, 994
41,140 43,617 57, 001
35, 462
34,497
24.97
24.99
24.96
24. 85
24.94
25. 09
25.38
25.06
24.90
25.10
25. 23
25.70
38.3
15.3
16.8
38.3
15.3
16.8
38.3
15.3
16.8
38.3
15.3
17.0
38.3
15.1
17.0
39.6
15.5
17.0
40.3
15.5
17.0
40.3
15.5
17.0
40.3
15.5
17.0
40.3
15.5
17.0
40.3
15.4
17.0
p 40. 3
p 15. 3
P17.0
576 8
188 1
123.0
217.6
589 2
175 6
119.2
238. 4
5 58 4
5
40 5
5 63 2
5 41 4
5 58 5
5
38 1
48.1
56.0
6 544 11, 549
3,024 4,215
10, 484
5,414
.665
.941
.665
.953
12.2
11.5
11.2
5.5
5.0
4.8
4.8
thous. sq. yd.. 36, 584
37, 90S
do
cents per lb_. 29.89
39, 117
21, 208
40, 833
17, 026
24. 49
24.62
38.2
17.4
17.2
38.3
15.1
16.3
38.3
15.3
16.5
455 7
163 6
78.5
169.3
482 0
160.4
100.2
185.4
495 0
160 7
103.1
188.8
44.3
36.0
42.4
thous. lb_
do...
6, 607
3,620
7,018
3,834
6,076
3, 250
7, 405
4,552
8, 230
4,274
10, 574
3,734
8,506
3,329
7,453
4,633
8, 784
3, 513
9,208
4,338
8,721
4,406
10, 240
3,995
do__.
do___
399
5,128
541
3,190
111
2,591
663
4,886
757
5,606
400
4,414
677
4,910
665
7,715
537
5,715
548
4.351
859
5,043
711
5,710
1,106
5,767
56.4
53.5
70. 9
22. 1
52.3
51.2
71.4
23.5
48.6
43.4
45.9
40.3
47.8
41.4
67.5
22.0
47.4
42.8
48.0
45.4
51.3
49.5
63.7
21. 1
51.6
51.1
49.8
48.5
47.9
51.2
67.6
28.4
51. 1
54 5
.82
.26
.82
.27
.82
.26
.82
.27
.82
.27
.82
.27
.82
.27
.82
.27
.82
.27
Cotton cloth:
Cotton broadwoven goods over 12" In width:
Production, qtrly. avg. or total
mil. lin. yd_.
Orders, unfilled, end of mo., as compared with
avg. weekly production
No. weeks' prod..
Inventories, end of mo., as compared with avg.
weekly production
No. weeks' prod..
Exports!
Imports!
19, 037 19, 102
17, 330 4 17,344
9,764 11,579
450
463
8,887 4 10,525
Mill marginst
Prices, wholesale:
Denim, mill
finished
cents per yd__
Print cloth, 39 inch, 68 x 72
do....
Sheeting, class B, 40-inch, 48 x 44-48
do
.665
.958
2,398
.670
.956
.656
936
.656
931
p. 654
p. 931
10.1
12.2
9.2
9.4
5.1
6.5
5.4
5.6
39, 270 34, 558
30, 757 28, 562
32, 247
30. 960
29, 932
37, 819
2,435
2, 425
25.63
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly. avg. or total
mil. lb_.
Filament yarn (rayon and acetate)
do
Staple, incl. tow (rayon)
do
Noncellulosie (nylon, acrylic, protein, etc.) .do
Textile glass fiber (exc. blown glass wool and
pack)
mil. lb__
Exports:
Yarns and monofilaments!
Staple, tow, and tops
Imports:
Yarns and monofilaments!
Staple, tow, and tops!
Stocks, producers', end of mo.:
Filament yarn (rayon and acetate)
Staple, incl. tow (rayon)
Noncellulosic
fiber*
Textile glass
fiber*
Prices, rayon (viscose):
Yarn, filament. 150 denier
Staple, 1.5 denier
mil. lb.
do-._
do
_do___
6
6
63.4
56.1
66. 3
15. 7
6
6
$ per lb_
do...
.82
.29
.82
.26
.82
.26
Manmade fiber broadwoven fabrics:
Production, qtrly. avg. or total! 9 __mil. lin. yd__
Rayon and acetate (excl. tire fabric)
do
Nylon and chiefly nylon mixtures
do
Polyester and chfefly polyester blends*. _do
594.2
358.6
78.5
106.2
596.2
366.3
64. 1
111.6
591. 8
372.9
60,9
101.5
Exports, piece goods
-thous. sq. yd.. 12, 871
11,557
525 1
178 2
115 0
193.7
38. 2
638.1
393.0
65.0
123.6
657.7
394. 1
75.1
128.7
859
6,034
r
r
1,070
5,252
54.0
54 4
57.2
52.9
.82
.27
.82
.27
p. 82
p. 27
662.4
392 3
75.6
128.8
12, 297
13,063
10, 475
11,096
12, 964
12, 661
11,890
13, 620
9,422
10, 577
11,784
573
541
557
524
715
Imports, raw
thous. lb_.
4.60
5.20
5.25
5.24
5.38
Price, raw, A A, 20-22 denier
$perlb._
Production, fabric, qtrly. avg. or total
thous. lin. yd__ 6,791 5,732 5,518
r
Revised. » Preliminary. * Total crop for year. 2 Girmings to Dec. 13. 6 3 Ginnings
to Jan. 16.
4 Data cover a 5-week period.
» Data are for month shown.
Qtrly. avg.
i Nov. 1 estimate of 1962 crop.
§Total ginnings to end of month indicated except as
noted.
1 Data for Sept. and Nov. 1961 and Jan., Apr., and July 1962 cover 5-week periods; other
months, 4 weeks.
802
5.08
389
5.08
688
5.22
545
5.42
524
5.73
421
5.98
399
6.22
473
6.20
785
6.36
525
p5. 98
11,614
13, 207
SILK
6,929
6,325
6,047
IScattered revisions for 1959-Apr. 1961 are available upon request.
f Revised series. See note in the Sept. 1961 SURVEY; data for Aug. 1957-June 1960 are
available upon request
9 Includes data not shown separately. *New series; data for 1954-60 are available
upon request.
cf Beginning Aug. 1962, includes Phoenix, Ariz. (15 markets).
SUEVEY OF CUEEENT BUSINESS
S-40
Unless otherwise stated, statistics through 1960
and descriptive notes are shown in the 1961
edition of BUSINESS STATISTICS
1960
1961
Monthly
average
November 19<
1962
1961
Sept.
Oct.
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
Aug.
Sept.
23, 434
11 501
20 133
13 579
23, 061 i 23, 251
11,932 i 10 177
22 387 16 834
15 485 11 216
22, 152
13 235
24 433
14 849
21, 268
12 940
21 001
12 562
1.245
1.075
1.175
1.252
1.075
1.175
1.275
1.075
1.175
1.275
1.085
1.175
100.5
100.5
100.5
101.7
95.0
96 9
95.0
96 9
95.0
96 9
July
Oct.
TEXTILE PRODUCTS-Continued
WOOL
Wool consumption, mill (clean basis) :1J
Apparel class
thous. lb__ 20, 356
Carpet class
do _. 13, 555
19, 597
W"ool imports clean content
do
8,202
Apparel class clean content
do
Wool prices, raw, clean basis, Boston:
Good French combing and staple:
Graded territory,
fine
$ per lb__ 1. 165
1.070
Graded fleece, $6 blood - .
_do
1.166
Australian, 64s, 70s, good topmaking
do
21, 907 1125,723
12, 254 15, 029
21 079 20 492
10,011
8 962
1.184
1.032
1.110
21, 709 1 26, 491
13,876 1 14, 629
25 039 17 219
9 564
9,690
1.230
1.075
1.125
1.208
1.075
1.125
1.200
1.075
1.125
96.7
96.7
1 25,609
14,085
23 982
16, 299
22, 740
11,387
22, 747
15,409
1.200
1.075
1.125
1.200
1. 075
1. 125
1.200
1.075
1.125
95.5
96.7
99.2
19, 902
11,811
17 114
10 159
1
23, 523 127,828
11.159 U2 216
25 945 21 019
19, 187 13 846
1.200
1.075
1.125
1.224
1.075
1.125
1.233
1.075
1.135
99.2
100.5
100.5
1. 27J
1. 11
1.17*
WOOL MANUFACTURES
Knitting yarn, worsted, 2/20s-50s/56s, Bradford
system, wholesale price
1957-59=100.. 100.6
Woolen and worsted woven goods, exc. felts:
Production qtrly avg or total
thous lin. yd 71,614
70, 189
Apparel fabrics, total
do
40, 668
\V~omcn 's and children's
do
Prices, wholesale, suiting, f.o.b. mill:
96.7
Flannel men's and boy's
1957-59=100__
96.8
Gabardine women's and children's
do
96.7
98.0
71,721
70,035
43,228
74,435
72,694
48,223
93.8
95.2
94.6
95.2
75, 464
73, 431
49, 066
69,026
66,353
40,955
94.6
95.2
94.6
95.2
94.6
95.2
94.6
95.2
94.6
95.2
94.6
95.2
82 505
80 813
48 36?
94.6
95.2
94.6
96 9
95.0
96.9
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLESA
Orders now (net) qtrly avg or total
mil $
JT s Government
do
Prime contract
do
Sales (net), receipts or billings, qtrly. avg. or total
mil $
IT S Government
do
3, 357
2.619
3, 035
3 525
2,708
3, 115
3 726
3 064
3,396
3 199
2 552
2,868
3 512
2 663
3 021
3,738
2, 883
3, 035
2, 800
3, 856
3, 004
3,875
3,037
4 016
3.060
Backlog of orders, end of year or qtr. 9
do
IT A Government
do
\ircraft (complete) and parts
do
Fngines (aircraft) and parts
do
Missiles, space vehicle systems, engines, propulsion units rind parts
mil $
Other related operations (conversions, modifications), products services
mil $
15.462
12, 0.%
6 089
1,566
13,965
11,043
5 646
1,546
14,077
11,183
5 772
1 414
13,965
11,043
5 046
1 546
13, 344
10 568
5 213
1 504
1 2. 840
10 171
5 127
1 476
4, 690
3, 829
4 063
3 829
3 794
3 491
2,049
1,803
1,754
1,803
1,670
Aircraft (civilian)' Shipments ©
do
Airframe weight © thous Ib
Exports
mil $
103. 4
2,347
44.8
82.1
1,824
27.6
01. 5
1,340
25.4
79.9
1,781
11.4
72.5
1,457
17.9
83.6
1,770
19.2
87.8
1,726
26.4
109. 1
2,045
60. 1
77.6
1, 747
43.9
111.2
2 511
40.8
121.2
2 345
31.6
92.4
1,915
11.4
77.9
1.395
17.1
88.3
1,400
10.4
49.2
1, 032
17.1
thous
do
. _ _ do
do
do
do
655.8
625. 7
556.2
544.2
99.5
81.5
556. 4
527. 3
461.9
450. 2
94.5
77.1
451. 4
426.6
367. 4
359.8
84.1
' 66. 8
638.3
608.3
545.1
529.4
93.1
78.9
754.6
722.3
646.9
627.7
107. 7
94.6
759. 5
720.5
646.7
631. 1
112.8
89.4
711.0
684.2
610. 9
595. 9
100. 1
88.3
628.6
603.7
533. 6
518. 5
95.0
85.2
713.9
685. 3
605. 8
588.5
108.1
96.8
719.6
687.8
614.3
594 8
105. 3
93.0
786.2
756.7
673. 5
656 6
112.7
100.1
678.2
651.2
569.2
555.0
109.0
96.2
687.7
663. 9
587. 1
575. 4
100.7
88.5
299.2
282.0
218.6
213 2
80.6
68.8
519.9
501.9
442. 5
432 5
77.4
69.4
number
do
do
27, 890
10, 570
17, 320
22, 444
9,489
12, 955
17,416
5, 910
11,506
19,682
9, 200
10, 482
22, 631
12, 658
9,973
21. 497
13, 234
8, 263
20,117
11,799
8,318
1 7, 580
10. 221
7, 359
21,818
12,140
9,678
23, 719
15, 204
8,515
22, 065 22, 394
1 1 , 882 10, 895
10.183 11,499
16,860
7, 803
9.057
15, 765
5,940
9,825
18, 405
11,815
6,590
do
do
41,287
39, 278
24, 860
24, 076
22, 521
22 127
28, 854
28, 344
26, 488
26, 005
33, 305
32, 395
32, 305
31,337
37, 695
36, 527
36, 344
35, 038
32, 607
31,326
32, 335
31,189
30, 551
29, 477
27, 735
27,179
19, 394
18, 977
29, 442
28, 686
do
do
do
4,864
2,916
549
4,263
2, 650
462
4,379
2,785
245
5,372
3,656
272
5,171
3,525
334
4,755
3, 375
233
5,484
3,845
738
5, 295
3, 577
719
6,393
4,543
456
5, 934
3,994
496
6,391
4,217
393
5,721
3,442
228
4,999
3,014
944
5,462
3,310
1,353
5,117
3,190
1,836
_ thous..
do
do
548. 1
41.6
78.6
487.9
31. 6
76.6
370.5
33.3
74.6
549.6
32.5
82.9
557.9
28.9
81.6
525. 7
24.2
79.0
506. 2
26.4
76.7
473.3
24.5
70.9
591. 7
29.4
89.2
635. 0
31.1
96.0
643.5
29.4
94.6
601.9
28.7
89.9
613.6
30.5
90. 8
540.2
27.6
94.9
373.9
25.6
74.8
number
do
do
4,776
3, 124
1, 652
2, 655
1,572
1,083
2.811
2,125
686
1,908
1,205
703
2,513
1.726
787
1,940
1,066
874
2,128
1,250
878
2,690
1,772
918
4.077
3,076
1,001
3,421
1,677
1,744
3,758
1,909
1,849
3,911
2,219
1,692
3,181
2,289
892
3,541
2,205
1,336
2,946
1,984
962
2 963
1,872
1,091
2,567
1,600
967
3,143
1,280
1,863
2,086
944
1,142
4,109
3, 479
630
5,710
2,793
2,917
5,336
2,729
2,607
1,466
1,127
339
1,557
1,500
57
2, 450
1,437
1,013
3, 289
2,855
'434
3 411
2,294
1,117
3, 098
-1,630
1,468
2 796
1,710
1,086
1 593
1,256
337
do
31, 977
do_ . 14, 758
do_ __ 17, 219
13, 462
4,616
8,846
10, 210
3,918
6,292
10, 373
3,642
6,731
11,984
5,405
6,579
15,761
7,134
8,627
19,011
8,611
10, 400
17, 737
7,970
9,767
15, 265
6,441
8,824
14,244
6,152
8,092
10 770
7,100
6,678
13, 274
7,171
6,103
13, 192
6,516
6,676
12, 429
6,003
6,426
11,064
5,264
5,800
20
265
17
202
14
246
7
239
0
239
0
264
0
264
0
264
5
259
24
235
72
175
50
163
45
120
25
134
12
122
1,662
9.4
1,607
8.8
1,621
9.4
1,614
9.1
1,613
9.0
1,607
8.8
1, 604
8.9
1,600
8.8
1,598
8.5
1,594
8.4
1,588
8.3
1.582
8.2
1,577
8.4
1,573
8.6
1,567
8.4
1.644
MOTOR VEHICLES
Factory sales, total
Domestic
_ _
Passenger cars, totalDomestic
Trucks and buses, total
Domestic ,
Exports, total t
Passenger cars (new and used)
Trucks and buses
Imports (cars, trucks, buses), total eft
Passenger cars (new and used) of
Production, truck trailers: t
Complete trailers, total
Vans
Chassis van bodies for sale separately
Registrations:©
New passenger cars
Foreign cars
_ __
New commercial cars
2
2 124.2
RAILROAD EQUIPMENT
Freight cars (ARCI):
Shipments .__ _ _
__
Equipment manufacturers, total
Railroad shops, domestic. _
New orders
Equipment manufacturers, total
Railroad shops, domestic
Unfilled orders, end of mo _ .
Equipment manufacturers, total
Railroad shops, domestic
do
do
do
_
Passenger cars: Shipments
Unfilled orders, end of mo
Freight cars, class 1 (AAR): §
Number owned, end of year or mo
Held for repairs, % of total owned
do
do
thous.
._
r
2
Revised.
' Data cover 5 weeks.
Preliminary estimate of production.
ISee corresponding note, p. S-39.
t Scattered revisions for 1959-60 are available upon request.
A Effective with the Jan. 1962 SURVEY, the qtrly. data reflect an expanded survey and
elude companies developing, producing, assembling, etc., complete missiles and space
ehicles (and engines or propulsion units). Comparable data prior to Dec. 31, 1960, are
ot available.
r
T
tRevisions for 1960-Mar. 1961 are available upon request.
9 Total includes backlog for nonrelated products and services and basic research.
©Data include militarj T -type planes shipped to foreign governments.
cf Data cover complete units, chassis, and bodies.
©Courtesy of R. L. Polk &. Co.; republication prohibited.
§ Excludes railroad-owned private refrigerator cars and private line cars.
U.S. G O V E R N M E N T P R I N T I N G O F F I C E : 1 9 6 2
848 5
2 724. 3
INDEX TO CURRENT BUSINESS STATISTICS, Pages S1-S40
SECTIONS
General:
Business indicators
Commodity prices
Construction arid real estate
Domestic trade
1-7
7, 8
._ 9, 10
10-12
Employment and population.
Finance
Foreign trade of the United States
Transportation and communications
,_ 12-16
16-21
21-23
23, 24
Industry;
Chemicals and an<
allied products _ . _ .
Electric power i 8as
Food and kindred products; tobacco
Leather and products
24, 25
26
26-30
30, 31
Lumber and manufactures
Metals and manufactures
Petroleum, coal, and products
Pulp, paper, and paper products
31
32-34
35, 36
,_ 36, 37
Rubber and rubber products
Stone, clay, and glass products
Textile products
_.___
Transportation equipment
.
37
38
38-40
40
INDIVIDUAL SERIES
Advertising
10, 11,16
Aerospace vehicles
„___
40
Agricultural loans
16
Aircraft and parts___
3,13-15,40
Airline operations
23
Alcohol, denatured and ethyl
25
Alcoholic beverages
8, 1C, 26
Aluminum
33
Apparel
1, 3, 4, 7, 8, 10-15, 38
Asphalt and tar products
35, 36
Automobiles, etc___ 1, 4-6, 8, 10, 11, 13-15, 19, 22, 40
Balance of international payments
._
2
Banking
.
16, 17
Barley
27
Barrels and drums
, _, .
33
Battery shipments
,_,
34
Beef and veal
28
Beverages
4, 8, 10, 26
Blast furnaces, steel works, etc
13-15
Bonds, outstanding, issued, prices, sales,
yields
18-20
Brass and bronze
33
Brick
38
Broker's balances
20
Building and construction materials. 8-10, 31, 36, 38
Building costs
9, 10
Business incorporations (new), failures
7
Business population _ ,
2
Business sales and inventories
4, 5
Butter
27
Cans (tinplate)
33
Car-loadings
23, 24
Cattle and calves
28
Cement and concrete products
8-10, 38
Cereal and bakery products
8
Chain-store sales, firms with 4 or more and 11
or more stores
12
Cheese
27
Chemicals
4-6, 8, 13-15, 19, 22, 24, 25
Cigarettes and cigars
„ _ _ 8, 10, 30
Civilian employees, Federal
14
Clay products
8, 38
Coal
4, 8, 13-15, 22-24, 35
Cocoa
23, 29
Coffee
23, 29
Coke
23, 24, 35
Communications
13-15, 19, 20. 24
Confectionery, sales
29
Construction:
Contracts
9
Costs
9, 10
Employment, hours, earnings, wages
_ _ 13-16
Highways and roads
„ 9, 10
Housing starts
9
New construction put in place
1, 2, 9
Consumer credit
17, 18
Consumer expenditures
1, 2
Consumer goods output, index
3, 4
Consumer price index
7
Copper
.
. 23,33
Corn
27
Cost of living (see Consumer price index)
7
Cotton, raw and manufactures7, 8, 21, 22, 39
Cottonseed cake and meal and oil
30
Credit, short- and intermediate-term
17, 18
Crops
3, 7, 27, 28, 30, 39
Crude oil and natural gas
4, 13-15, 35
Currency in circulation
19
Dairy products
Debits, bank
Debt, U.S. Government
Department stores
Deposits, bank
Disputes, industrial
Distilled
spirits
Dividend payment'-, rate:-, arid yields
http://fraser.stlouisfed.org/
Dm? _*.ores, "silts
Federal Reserve Bank of St. Louis
3, 7, 27
16
18
11, 12, 17
18, 17, 19
_
16
26
3, IS- 21
. 11, 12
Earnings, weekly and hourly
14-16
Eating and drinking places
11, 12
Eggs and poultry
3, 7, 29
Electric power
4, 8, 26
Electrical machinery and equipment
3,
5, 6, 13-15, 19, 22, 34
Employment estimates
12-14
Employment Service activities
16
Expenditures, U.S. Government
18
Explosives
25
Exports (see also individual commodities)
1,
2,21,22
Express operations
23
Failures, industrial and commercial
7
Fans and blowers
34
Farm income, marketings, and prices
1, 3, 7
Farm wages
16
Fats and oils
8, 29, 30
Federal Government
finance
18
Federal Reserve banks, condition of
16
Federal Reserve reporting member banks
17
Fertilizers
8, 25
Fire losses
10
Fish oils and
fish
29
Flooring, hardwood
31
Flour, wheat
28
Food products___ 4-8, 10, 11, 13-15, 19, 22, 23, 27-30
Foreclosures, real estate
10
Foreign trade
21-23
Foundry equipment
,_
34
Freight carloadings
.
23, 24
Freight cars (equipment)4, 40
Fruits and vegetables
7, 8, 22
Fuel oil __
35,36
Fuels
__..
4, 8, 35, 36
Furnaces
34
Furniture. __
3,4,8,10-15,17
Furs
23
Gas, output, prices, sales, revenues
„ _ _ 4, 8, 26
Gasoline
1, 35, 36
Glass and products
38
Glycerin
.
..
25
Gold
2, 19
Grains and products
7, 8, 22-24, 27, 28
Grocery stores
11, 12
Gross national product
1, 2
Gross private domestic investment
,_
1,2
Gypsum and products
8, 38
Hardware stores
.
11
Heating equipment
8, 34
Hides and skins
8, 30
Highways and roads
9, 10
Hogs
28
Home Loan banks, loans outstanding
10
Home mortgages
10
Hosiery
38
Hotels
14, 15, 24
Hours of work per week
14
Housefurnishings
1,4, 7, 8, 10-12
Household appliances and radios
4, 8, 11, 34
Housing starts
.
9
Imports (see also individual commodities).._ 1, 21-23
Income, personal
2, 3
I ncome and employment tax receipts
18
Industrial production indexes:
By industry
3, 4
By market grouping
3, 4
Installment credit
12,17, 18
Installment sales, department stores
12
Instruments and related products
3, 13-15
Insulating materials
34
Insurance, life
18, 19
Interest and money rates
17
Inventories, manufacturers' and trade
4-6, 11, 12
Inventory-sales ratios
5
Iron and steel
3, 5, 6, 8, 10, 19, 22, 23, 32, 33
Labor advertising index, disputes, turnover
16
Labor force
12
Lamb and mutton
28
Lard
28
Lead
33
Leather and products
3, 8, 13-15, 30, 31
Life insurance
18, 19
Linseed oil
_
30
Livestock
3, 7,8, 24, 28
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit)
10, 16, 17, 20
Lubricants
35, 36
Lumber and products
._„__ 3, 5, 6, 8, 10-15, 19, 31
Machine tools
34
Machinery
3, 5,6,8, 13-15, 19, 22,34
Mai 1 order houses, sales
11
Manrnade fibers and manufactures
8,39
Manufacturers' sales, inventories, orders
4-6
Manufacturing employment, production workers, payrolls, hours, earnings
13-15
Manufacturing production indexes
3,4
Margarine
23
Meats and meat packing
3, 7, 28
Medical and personal care
7
Metals
4-6,8,13-15,19.23,32-34
Milk
__.
27
Mining and minerals
2-4, 8, 13-15, 19, 20
Monetary statistics
19
Money supply
19
Mortgage applications, loans
10, 16, 17
Motor carriers
__
23
Motor vehicles
1, 4-6, 8, 10, I I , 13-15, 19, 22, 40
Motors and generators
34
National defense expenditures
1, 18
National income and product
1, 2
National parks, visits
24
Newsprint
23, 37
New York Stock Exchange, selected data
20, 21
Nonferrous meta!s__..
8, 19, 23, 33, 34
Noninstaiirnent credit.
17
Oats
27
Oil burnersl
34
Oils and fats
8, 29, 30
Orders, new and unfilled, manufacturers'
6
Ordnance
13-15
Paint and paint materials..
8, 25
Panama Canal traffic
24
Paper and products and pulp
3,
5,6,8,13-15,19,23,36,37
Parity ratio
.
7
Passports issued
24
Payrolls, indexes
14
Personal consumption expenditures
1, 2
Personal income
2, 3
Petroleum and products
4-6,
8, 11, 13-15, 19, 22, 23, 35, 36
Pig iron
32
Plant and equipment expenditures
2, 20
Plastics and resin materials.
25
Plywood
31
Population
12
Pork
28
Postal savings
17
Poultry and eggs
3, 7, 29
Prices (see also individual commodities)
7, 8
Printing and publishing
4, 13-15
Profits, corporate
1,19
Public utilities
2-4, 7-9, 13-15, 18-21
Pullman Company
24
Pulp and pulpwood
36
Purchasing power of the dollar-.
8
Radiators and convectors
.
34
Radio and television
4 5 8, 10, 11, 34
Railroads
2, 13, 14, 16, 18-21, 23, 24, 40
Railways (local) and bus lines.
13-15, 23
Rayon and acetate
39
Real estate
10, 17, 18
Receipts, U.S. Government
,
18
Recreation
,
7
Refrigerators and home freezers
34
Rent (housing)
7
Retail trade
__ 4,5,7,9,11-15,17
Rice
27
Roofing and siding, asphalt
36
Rubber and products_ _
___ 4-6, 8, 13-15, 23, 37
Rye
27
Saving, personal.
.
2
Savings deposits
.
„
17
Securities issued19, 20
Services
1, 2, 13-15
Sheep and lambs...
28
Shoes and other footwear
1, 8, 11, 12, 31
Silk, prices, imports, production
8,39
Silver
19
Soybean cake and meal and oil
30
Spindle activity, cotton
39
Steel ingots and steel manufactures
32, 33
Steel scrap
32
Stock prices, earnings, sales, etc
20, 21
Stocks, department stores
12
Stone, clay, and glass products
3-6,
8, 13-15, 19, 38
Stoves and ranges._
__ __
34
Sugar
23, 29
Sulfur
25
Sulfuric acid
25
Superphosphate
25
Tea imports____
29
Telephone, telegraph, cable, and radiotelegraph carriers
13-15, 19, 20, 24
Television and radio
4, 8, 10, 11, 34
Textiles and products,_ 3. 5, 6, 8, 13-15, 19, 22, 38^0
Tin
23, 33
Tires and inner tubes
8, 11, 12, 37
Tobacco and manufactures
4-8, 10, 13-15, 30
Tractors
22, 34
Trade (manufacturings, wholesale, and retail)
4-6, 11, 12
Transit lines, local
23
Transportation
I, 2, 7, 23, 24
Transportation equipment
3-6, 13-15, 19,40
Travel
23, 24
Truck trailers
.
40
Trucks (industrial, motor)
34,40
Unemployment and insurance
12, 16
U.S. Government bonds
16-18, 20
U.S. Government
finance
18
Utilities
2-4, 9, 13-15, 18-21, 26
Vacuum cleaners
„
Variety stores
Vegetable oils__
_.
Vegetables and fruits
Vessels cleared in foreign trade
Veterans' benefits
Wages and salaries
Washers
Water heaters
Waterway traffic
.
Wheat and whea t flour
W holesa?e price indexes
Wholesale trade
Wood pulp
Woo! and wool manufactures
Zinc,.
_..
34
.._ 11, 12
29,30
7, 8, 22
24
IG, 18
1,3, 1 4 - I n
. _ _ _ 34
34
24
_
28
8
4, 55 12
36
7, 8, 23, 40
33,34
UNITED STATES
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STATISTICS
61 edition
THIRTEENTH VOLUME in a series of
statistical supplements to the monthly Survey of
Current Business, the new 1961 biennial edition provides historical data for each of over 2,500 economic
indicators.
Monthly data are shown back to 1957, with
quarterly series back to 1951 and annual averages
from 1939. Explanatory notes for each series refer
to the source and methodology used, define the
statistical units, and specify both the comparability
of current and past figures and the adequacy of
coverage.
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