Full text of Survey of Current Business : November 1971
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. SURVEY OF CURRENT BUSINESS NOVEMBER 1971 / VOLUME 51 NUMBER 11 SURVEY OF CURRENT BUSINESS CONTENTS THE BUSINESS SITUATION Financial Developments Productivity and Labor Costs Corporate Profits Federal Fiscal Position Consumer Demand 1 3 4 6 6 National Income and Product Tables Residential Capital in the United States, 1925-70 Production and Employment in October Sources and Uses of Funds of Nonfarm Nonfinancial Corporations; Size and Composition of Personal Saving 12 16 27 28 CURRENT BUSINESS STATISTICS General S1-S24 Industry S24-S40 Subject Index (Inside Back Cover) U.S. Department of Commerce Maurice H. Stans / Secretary James T. Lynn / Under Secretary Harold C. Passer / Assistant Secretary for Economic Affairs Office of Business Economics George Jaszi / Director Morris R. Goldman / Deputy Director Lora S. Collins / Editor Leo V. Barry, Jr. / Statistics Editor Billy Jo Hurley / Graphics STAFF CONTRIBUTORS TO THIS ISSUE Lora S. Collins Claudia Harkins Donald A. King Barbara L. 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Salt Lake City, Utah 84111 125 South State St. Ph. 524-5116 San Francisco, Calif. 94102 450 Golden Gate Ave. Ph. 556-5864. San Juan, Puerto Rico 00902 100 P.O. Bldg. Ph. 723-4640. Savannah, Ga. 31402 235 U.S. Courthouse and P.O Bldg. Ph. 232-4321. Seattle, Wash. 98104 8021 Federal Office Bldg. Ph. 442-5615. the BUSINESS SITUATION The first phase of the "new economic policy" (NEP) has just ended as this issue of the SURVEY goes to press. The freeze on wages, prices, and rents has been replaced by the more flexible, but more complex, system of guidelines and controls of Phase II. The NEP has had visible success in slowing price and wage increases, and has had an impact in financial markets, where moderation of inflationary expectations resulted in a decline in rates and yields. Recent financial developments are reviewed in this article. Also discussed are productivity and labor costs, corporate profits, the Federal fiscal position, and consumer demand. come. The Senate Finance Committee generally accepted the House Bill, which contained some modifications of the President's original proposals. The House made the proposed tax credit for investment in machinery and equipment a flat 7 percent; the President had proposed 10 percent in the first year and 5 percent thereafter. In a related action, not requested by the President, the House reduced the tax advantages to corporations resulting from the new depreciation rules set forth by the Treasury in June. The House approved the elimination of the automobile excise tax, but provided somewhat greater tax relief for individuals than was requested by the President. Phase I of the NEP has had visible success in slowing price and wage increases, and in reducing interest rates and bond yields. The introduction of the NEP has also, not surprisingly, generated considerable uncertainty. However, this should be dispelled as the workings of Phase II become clearer, and the economy's growth rate—which is still moderate—should be buoyed by a strengthening of consumer spending and business inventory investment. A HE first phase of the "new economic policy" (NEP) has just ended as this issue of the SURVEY goes to press. The temporary freeze on wages, prices, and rents has been replaced by the more flexible, but more complex, system of guidelines and controls of Phase II. The broad outlines of Phase II can be summarized by the policy decisions announced to date. The Pay Board has adopted a general 5% percent annual ceiling on increases in wages and benefits. The Price Commission has set 2% percent as the annual ceiling on the Financial Developments average price increase economy-wide. The NEP has had an impact in It has ruled that price increases will be allowed only to cover cost increases, financial markets, where moderation after allowing for productivity gains, of inflationary expectations has reand that price increases which raise the sulted in an appreciable decline in profit/sales ratio above a base period interest rates and bond yields. figure will not be permitted. The Com- Financing costs, which had risen mittee on Interest and Dividends has steadily during the 5 months preceding set 4 percent per year as a guideline for the President's mid-August introducvoluntary restraint on dividend tion of the new program, are at midNovember as much as 1 percentage increases. Those parts of the NEP involving point below their summer highs (chart tax actions had by mid-November 1). The decline in interest rates has been cleared the House of Representatives and the Senate Finance Committee, generally more pronounced in shortwith action by the full Senate still to term than in long-term markets. This is the usual tendency in periods when substantial changes occur in credit market conditions. In the current situation, it has been reinforced by what seems to be some easing of monetary policy plus unusually heavy foreign central bank purchases of short-term U.S. Government securities (using dollars accumulated as a result of efforts, mainly before August 15, to stabilize exchange rates). In early November, the Federal Reserve System lowered the discount rate from 5 to 4% percent in recognition of developments in short-term HHHHOHBBHBBMBH en ART ! Short- and Long-Term Interest Rates Percent 10 6 - 1967 1968 1969 1970 1971 • Last data plotted are weekly figures for mid- November. Data: FRB, HUD,, Moody's, Bond Buyer & Treasury U.S. Department of Commerce, Office of Business Economics 11-11 - 1 SURVEY OF CURRENT BUSINESS markets. The decline in market interest rates also carried through to the prime rate, which was reduced from 6 to 5% percent in mid-October and to 5% percent in early November. The prime rate had been raised from 5% to 6 percent early in July; prior to that increase, it had been lowered steadily from the peak of 8% percent reached during the tight money period of 1969. In late October, First National City Bank broke with the practice of adjusting the prime rate only periodically, and adopted a floating rate pegged one-half of one percentage point above the rate on 90-day commercial paper. Under the new procedure, the prime rate is adjusted weekly and is thus a much more flexible instrument for pricing credit. Also, tying the prime rate to open market rates should blunt the criticism which is often directed at the banking community in periods of rising interest rates. A few other large banks have already moved to some form of floating rate and many are currently considering its adoption. Conditions have also eased considerably in longer term markets, and interest rate reductions have been broadly based despite heavy borrowing by the Federal Government and continued records in the volume of new securities issued by corporations and by State and local governments. Yields in mortgage markets, which typically lag in their response to change in financial conditions, have eased only slightly. However, there were reports in October and November of reductions by both savings and loan associations and commercial banks in rates on commitments for conventional mortgages. Reductions in rates on personal loans were also announced recently by major banks in New York and California. Lenders are apparently becoming more interested in consumer business and are adjusting loan rates more quickly to changes in market conditions than has been the case in the past. It is interesting to note that the recent reduction in consumer loan rates came at a time when installment credit was registering exceptionally strong increases, marking a break from the sluggish growth of the previous 2 years. November 1971 The NEP's success in reducing in- Table 1.—Changes in Selected Monetary Aggregates flationary expectations in credit mar[Percent, seasonally adjusted at annual rates] kets has been reflected in higher prices and lower yields on money and credit 19 70 197 I market instruments. In the stock 4 market, prices rose in initial reaction 1st 2d 1st 2d months half half qtr. qtr. ending to the President's mid-August policy Oct. announcement but the averages then 6.3 4.6 6.4 10.0 8.8 began to slide and at mid-November Monetary base 5.4 member bank reserves. 2.6 8.6 12.0 8.0 are registering new lows for the year. Total 1 (money stock) _ . _ 4.4 5.2 7.2 10.8 5.4 A number of factors are currently ex- M M2 (M» plus time deposits at commercial banks other erting a depressing influence on stock 3.2 9.0 14.8 14.8 than2 large time CD's) 6.0 (M plus deposits at nonprices; these include a general recogni- MSbank 8.4 thrift institutions) .- 2.8 8.8 15.6 16.8 tion of how slow the pace of economic NOTE.—Percent changes in 1970 are computed from half recovery is, reductions in the cash year averages; percent changes in 1971 are computed from quarterly averages. reserves of large institutional investors, Source: Federal Reserve Board. net redemptions of mutual fund shares, and this year's large volume of new stock issues. In addition, weakness in available and seeking lower interest stock prices is probably related to the rates, they run the risk that their uncertainty that has accompanied the action could undermine longrun price introduction of the NEP, and to what stability; on the other hand, a slow appears to be concern among investors rate of monetary expansion aimed at that Phase II may be more successful slowing inflation could also thwart the controlling prices than wages, making restoration of full employment. profit gains weaker than expected. Monetary policy Commercial banks Credit policy was stimulative during the early months of 1971 and the monetary aggregates—such as bank reserves, the monetary base, money supply, time deposits—recorded unusually strong rates of growth. In view of the persistence of inflation and inflationary expectations, the monetary authorities became concerned over these gains and resolved in late spring to slow the monetary expansion. That decision led to a subsequent broadly based slowdown in the growth of the monetary aggregates (table 1). The introduction of the new economic measures in mid-August has removed some of the burden of restraining inflationary pressures from the Federal Reserve System. Since that time, monetary policy has apparently become somewhat more expansive: Increases in member bank reserves have permitted banks to continue to add substantially to their holdings of loans and investments while simultaneously reducing their indebtedness to the Federal Reserve. However, the monetary authorities face a very difficult problem in setting the course for policy over the near future. On the one hand, in trying to encourage economic expansion by making credit easily For most of this year, commercial banks have been comfortably situated with respect to reserves, and so have been able to continue reducing their reliance on nondeposit sources of funds (Euro-dollar borrowing, loan sales, and sales of commercial paper) while making record additions to their holdings of loans and investments. Through the first 10 months of the year, bank credit increased at a seasonally adjusted annual rate of almost $47 billion; this is well above the previous record expansion of $38 billion in 1968. In the first half of the year loan demand was relatively weak and the expansion of bank credit was mostly in the form of increased holdings of investments. Banks made exceptionally large acquisitions of State and local government securities and added to their holdings of U.S. Government securities as well (table 2). However, in the four months ending in October, loan demands strengthened, particularly for commerical and industrial and consumer installment loans, and loan expansion was responsible for the bulk of the growth in bank credit. Banks continued to add substantially to their portfolios of State and local securities— SURVEY OF CURRENT BUSINESS November 1971 Table 2.—Changes in Commercial Bank Credit l Billions of dollars, seasonally adjusted at annual rates] 19 70 Total loans and investments Loans Investments U.S. Government Other 1971 1st half 2d half 1st qtr. 2d qtr. 4 months ending Oct. 14.2 39.2 56.0 39.2 42.0 14.8 14.8 18.4 15.2 31.5 -.6 -5.6 4.8 24.4 10.8 14.0 37.6 11.2 26.4 24.0 4.0 20.0 10 8 -.6 11 4 1. Adjusted for loan sales. NOTE.—Changes in 1970 are computed from half year averages; changes in 1971 are computed from quarterly averages. Details may not add to total because of rounding. Source: Federal Reserve Board. though at a slower pace than in the first half of the year—but holdings of U.S. securities were little changed. Savings and loan associations Savings growth at savings and loan associations thus far in 1971 has been unprecedented. During the first three quarters, saving deposits increased $22% billion, seasonally adjusted, which is twice the growth recorded for full year 1970, itself a record year. The associations have allocated part of these flows to reducing indebtedness at the Federal Home Loan banks and adding to their holdings of liquid assets. The ratio of liquid assets to total liabilities—a measure of liquidity— was 10% percent in the third quarter, up from 9% percent in the fourth quarter of last year and a low 8% percent in the fourth quarter of 1969. The associations have been expanding their lending activity at a record rate. Mortgage loans increased $17% billion (seasonally adjusted) in the first three quarters of this year, compared with $10% billion for full year 1970. The forward commitment activity of the associations has been extremely strong, particularly in the first half of the year, and outstanding commitments rose to $13% billion in the third quarter from $7% billion in the closing quarter of last year. However, the recent increase in lending activity has resulted in some associations becoming "loanedup"—i.e. unable, under the Federal Home Loan Bank Board's liquidity rules, to increase further their mortgage holdings unless they also increased their liquid assets. In order to permit associations to shift funds from liquid assets to mortgage investments, the Federal Home Loan Bank Board in late August reduced the minimum liquidity requirement from 1% to 7 percent of liabilities. time and lower paid workers also tended to hold down the rise in hourly compensation. Unit labor costs in the overall private economy rose only 1.0 percent in the third quarter, compared to 3.8 percent in the second; in the nonfarm sector, unit labor costs rose 2.0 percent, comProductivity and Labor Costs pared to 3.4 percent in the second quarter. The wage-price-rent freeze was highly Labor productivity in the private economy rose 5.1 percent at an annual effective in holding down compensation rate in the third quarter, as output in the second half of the third quarter. increased while man-hours declined It might be noted in this regard that the (table 3). The decline in man-hours behavior of compensation in the latter was due to a shortening of the average part of the fourth quarter will reflect workweek, for employment increased. wage increases suspended during the The third quarter increase in out- freeze but becoming effective after put per man-hour exceeded the rise in November 13. These increases will give the second quarter because of sharp a boost to the level of compensation gains in agricultural production. Farm which should be registered in the figures output is a relatively small part of for December. The behavior of unit labor costs thus total private output, but it is volatile far in 1971 has differed from that genand its swings can have a significant erally associated with the early stages impact on the behavior of the aggreof economic recovery. Typically, the gate. Excluding the farm sector, the initial gains in productivity following private economy recorded a produca trough in business activity exceed tivity gain of 3.4 percent in the third increases in hourly compensation, and quarter, down from 4.3 percent in the second. This slowdown centered in unit labor costs decline. In the current manufacturing, where productivity de- situation, however, compensation has clined, mainly because of the drop in been increasing consistently more rapidly than productivity, and unit steel production. The annual rate of increase in private labor costs have risen. economy compensation per man-hour Wage increases under collective barslowed from 7.3 percent in the second gaining quarter to 6.2 percent in the third. In The Bureau of Labor Statistics data the nonfarm sector the rate of increase on "major" collective bargaining situslowed from 7.8 percent in the second ations—those involving 1,000 workers quarter to 5.4 percent in the third. The or more—cover only a relatively small deceleration was due in large part to segment of the total work force, but it the imposition of the wage-price-rent is a highly visible segment and tends to freeze in August, but a shift in the comset patterns. Thus far this year, "major" position of employment toward partsettlements have included agreements in the railroad, apparel, farm machinery, communications, can, aluminum, copTable 3.—-Productivity and Labor Costs in the Private Economy per, and steel industries. Virtually all of the third quarter settlements covered [Percent change, seasonally adjusted at annual ratesl by the BLS data were reached prior to OutComimposition of the freeze. pensaput Unit Out- Mantion per labor hours per put In the first three quarters of 1971, manmancosts hour hour major settlements provided for an average first-year increase of 11.8 1970: I -3.0 7.9 — 1.4 9.7 -1.6 II -2.2 3.1 .8 4.7 1.6 percent in straight time hourly earnings, -4.3 6.1 9.4 III 3.1 1.5 -4.5 .2 6.1 6.0 IV. .. . -4.4 virtually the same as the record increase 2.1 8.6 9.0 2.6 1971: I 6.3 registered last year (table 4). The 5.2 3.4 7.3 3.8 II. 1.7 III 5.1 6.2 4.0 1.0 —1.1 large size of the first year increase reflected "front loading," i.e., providing Source: Bureau of Labor Statistics. SURVEY OF CURRENT BUSINESS large increases in the first year of multi-year contracts. There was a slowdown in the average annual wage increase over the full life of the contracts, from nearly 9 percent in 1970 to 8 percent this year. This year's settlements also saw cost of living escalator clauses included for the first time in some contracts and reintroduced in the can, aluminum, and steel contracts. Table 4.—Wage Rate Changesl Collective Bargaining Under [Average (mean) annual percent change] A 11 industries: Over life of contract First-year adjustment Manufacturing : Over life of contract First-year adjustment Nonmanufacturing : Over life of contract First-year adjustment Construction Over life of contract First-year adjustment _ 1st 9 1970 months 1971 1968 1969 5.9 7.4 7.6 9.2 8.9 11.9 8.0 11.8 5.2 7.0 6.0 7.9 6.0 8.1 7.1 10 7 6.5 7.8 9.3 10.8 11.5 15.2 9.0 13.0 8.6 8.7 13.1 13.1 14.9 17.6 11.7 13.5 1. Limited to private industry settlements affecting 1,000 or more workers. Data exclude possible adjustments in wages under costof-living escalator clauses (except guaranteed increases). Source: Bureau of Labor Statistics. For manufacturing, the data covering the first 9 months of 1971 indicate a faster rate of wage increase this year than did data for the first six months. The change in the picture is due to availability of more information on settlements reached in the first half as well as to the inclusion of contracts concluded in the summer, particularly the steel contract. Outside manufacturing, wage increases have been slower this year than last. The most interesting developments have occurred in the construction industry, where a system of wage restraints was instituted at the end of March under the jurisdiction of the Construction Industry Stabilization Committee (CISC). Since its inception, this committee has approved 48 major agreements and apparently has been successful in holding down wage increases. The six major settlements prior to March 29 provided increases averaging 16.9 percent over the life of the contracts, while the 48 CISC-approved settlements have averaged 11.3 percent. Deferred increases Between August 15 and November 13, some 1.2 million workers covered by 280 contracts were scheduled to get increases provided by the terms of those contracts, i.e., deferred increases, averaging 5.6 percent. Almost onefourth of these contracts provided scheduled increases of 6 percent or more, but only about one-tenth of them called for increases of 8 percent or more. The Pay Board ruled that such deferred increases can come into effect after November 13, provided they are not "unreasonably" out of line with the Phase II guidelines, but that the increases cannot be paid retroactively. Between November 13 and yearend, another 1.1 million workers under 86 contracts were scheduled to receive deferred increases averaging about 3% percent. In 1972, deferred increases provided under existing contracts are expected to cover more than 5% million workers and average around 6 percent. However, 1972 will be a much lighter bargaining year than either 1970 or 1971. The fact that there will be fewer workers involved in negotiations next year means that the impact on wages rates from front-loaded contracts will be more moderate than in either 1970 or 1971. Moreover, the impact of frontloading may become less important in the future if the unions return to 1year contracts out of concern over the possibility of being "locked in" upon expiration or easing of the Phase II controls. Corporate Profits Corporations' book profits before taxes were essentially unchanged from the second quarter to the third. Preliminary estimates by OBE put the pre-tax total at a seasonally adjusted annual rate of $83% billion, just a shade higher than the second quarter figure. At this level, profits are still well below the peak rate of $89 billion reached in the late 1968 but nonetheless sharply above the rate of only $71% billion recorded in the depressed fourth quarter of 1970. That quarter was not only the cyclical trough but also the November 1971 period in which substantial losses were incurred as a result of the auto strike. The profits rebound this year would have been even steeper had it not been for the impact of the liberalized depreciation rules instituted by the Treasury in June, retroactive to January 1. OBE has estimated that the resulting upward shift in the level of capital consumption allowances—and downward shift in the level of pre-tax profits—amounted to about $3% billion (annual rate) in the first quarter of this year. A detailed discussion of the estimated impact of the liberalization was published in the August issue of the SURVEY. As this issue goes to press, it appears that Congress may pass legislation reducing the degree of liberalization. Other things being equal, such action would lead to upward revision of 1971 profits estimates and downward revision of capital consumption allowances. Book profits include gains or losses due to differences between the replacement cost of goods taken out of inventory and the cost at which they are charged to production. These gains or losses are excluded from the profits share of national income, their estimated amount being shown in the accounts as the inventory valuation adjustment (IVA). Inventory gains increased about $1% billion from the second quarter to the third, and profits on the national income basis fell $1 billion, from $78% billion (seasonally adjusted annual rate) to $77 # billion. The rise in the IVA, occurring in a quarter when the overall rate of price advance slowed, was mainly the result of a substantial rise in prices of metals and metal products in July and August. These prices figure importantly in the IVA calculation because metals are an important component of business inventories. The profits of financial institutions increased about $% billion in the third quarter, after having fallen by roughly that amount in the second, but the profits of nonfinancial corporations fell more than $1% billion. Aggregate profits of durable goods producers were down sharply and there was relatively little strength elsewhere in the nonfinancial sector. The profits weakness November 1971 SURVEY OF CURRENT BUSINESS The modest improvement in nonin durables manufacturing centered in the steel industry, where substantial financial corporations' unit profit this losses were incurred as production fell year followed five years of nearly unsteeply because users were working off interrupted shrinkage. The shrinkage their strike-hedge inventories. Another reflected the fact that price per unit, factor contributing to the overall prof- though rising, was rising less rapidly its decline was an estimated drop of than unit costs. In the first half of the 1960's, unit about $% billion in net profits earned abroad and remitted to the United costs were virtually stable while prices States, following a large increase in the crept up very slowly, resulting in a second quarter. In addition, it is cer- steady expansion of unit profit. The tainly possible that third quarter profits peak in unit profit was at the end of were affected by the wage-price-rent 1965, followed by a modest decline. freeze, which began at mid-quarter. Beginning in early 1968, however, costs However, there is no way to sort out the rose at an accelerating pace, and even impacts on corporations' costs and though the rate of price increase also prices in sufficient detail to determine accelerated, unit profit fell very rapidly. just what effect the freeze may have Sources and uses of corporate funds had on overall profits. The improvement in profits following Nonfinancial corporations the cyclical trough late last year has The recovery of nonfinancial cor- boosted retained earnings, and the porations' profits in this year's first growth of capital consumption allowhalf reflected an expansion of real ances has been enhanced by the liberalioutput coupled with an improvement zation of the depreciation rules. These in profit per unit of output. In the developments have resulted in a sharp third quarter, real output expanded expansion this year in internal cash somewhat further but unit profit fell flow. At the same time, corporations have increased their rate of external slightly and total profit declined. Unit profit is plotted on chart 2, borrowing. They have been expanding along with price and unit costs. The their long term liabilities at a rapid rate data on that chart are derived from while slowing the growth of short term OBE's estimates of the gross product debt—at least until the third quarter, originating in nonfinancial corporations when borrowing from banks went (shown in table 9 of the national in- up rather sharply. With the rate of come and product tables in each issue investment in physical assets showing of the SURVEY). Gross nonfinancial little change, the increase in nonfinancorporate product, or value added, is cial corporations' funds has been reestimated as the sum of factor incomes flected in sizable increases in the originating in corporations—employee purchase of financial assets. These compensation, net interest payments, developments have led to an improveand pretax profits (with IVA)—plus ment in the liquidity position of nonother charges against production— financial corporations, which had been capital consumption allowances, indi- seriously squeezed in 1969-70. Table 5 shows data on the sources and rect business taxes (net of subsidies uses of nonfinancial corporations' funds. received), and corporations' transfer The figures are condensed from the payments. The profitability, or unit Federal Reserve flow of funds accounts, profit, measure on chart 2 is useful in which combine information from the separating changes in real volume from national income and product accounts changes in unit profit as factors in1 with information on financial sources fluencing total profit. and uses of funds. The estimates for the third quarter are tentative. In the early years of expansion fol1. This unit profit measure is not the same as the profit per dollar of sales measure commonly used in financial lowing the 1961 cyclical trough, when analysis. Sales are equal to the sum of purchased materials profits were growing steadily, internal and value added. Value added, or gross product originating, is equal to the sum of factor costs and other charges listed funds just about covered physical asset above, including profits (which may of course be negative, purchases. The flow of funds from i.e., losses). external sources was modest—about $20 billion annually. However, when profits stopped growing in the mid1960's, the capital spending boom was in full swing and the result was a sharp increase in the use of external funds. Table 5 shows how credit market borrowing grew after the middle 1960's. There was a huge rise in short term liabilities in 1969, a year of severe monetary restraint with very high interest rates and intense competition for credit. That increase led to liquidity problems and for a while—especially at the time of the Penn Central bankruptcy petition in the spring of 1970— some analysts feared the possibility of a widespread liquidity crisis. Since then, however, corporations have massively restructured their liabilities and seem CHART Nonfinancial Corporations: Price, Cost, and Profit Per Unit of Output Dollars (Ratio scale) 1.4 Price 1.2 \ 1.0 1957 61 63 65 67 69 Seasonally Adjusted NOTE -Price per unit is calculated by dividing current dollar gross corporate product (GCP)by constant dollar GCP. The other values are calculated by dividing the several components of current dollar GCP by constant dollar GCP. Nonlabor cost consists of capital consumption allowances, net interest, and indirect business taxes plus business transfers less subsidies received. U.S. Department of Commerce, Office of Business Economics SURVEY OF CURRENT BUSINESS 6 Table 5.—Nonfinaiicial Corporations9 Sources and Uses of Funds November 1971 Consumer Demand [Billions of dollars; quarterly data, seasonally adjusted at annual rates] There has been a dramatic spurt this fall in sales of new domestic model cars. 1965 1966 1968 1969 1970 1967 IV I II III* After some months of narrow fluctuation around a level just above 8 million 96.6 108.0 Sources, total . . 93.1 100.6 103.0 118.1 105.5 118.0 123.7 124.3 units (seasonally adjusted annual rate), 56.6 61.5 Internal 61.2 59.5 61. 5 61.7 62.4 68.3 71.8 71.6 36.5 39.4 35.2 External 46.3 58.6 44.0 40.5 51.9 49.7 52.7 the new car sales rate hit 10% million 20.5 Credit market funds 24.9 29.3 39 1 30.3 38.8 39 2 46.6 52 1 57 1 Long-term ... .. .. ... 15.6 21.5 17.9 9.3 21.2 32.4 41.2 41.6 50.8 40. 1 units in September and 10 million in Short-term . ... . 11.2 7.8 9.3 18.0 12.4 6.4 5.0 16.9 -2.0 1.3 Other 15.9 14.5 5.8 16.0 — 2 19.5 5.3 14 —4 4 3. 1 October. Indications are that the rate 92.5 86.5 112.7 Uses, total 101.7 103 7 109 6 85.8 99 1 111 5 111 8 was above 10 million units (seasonally 72.0 Purchase of physical assets 62.8 77.1 84.9 76.1 86.0 87.4 84.2 83.8 91.7 adjusted) in early November. While Increase in financial assets 15.5 14.6 25.6 23. 1 27.8 19.5 13 1 25.8 19 8 24 4 domestic model sales were booming, Discrepancy (uses less -8.0 -10.1 -5.4 sources) -7.2 -6.3 -1.8 -3.9 —8.3 -12.1 -12.5 sales of imports were dropping sharply. The sales rate of foreign models, which * Preliminary; partly estimated by OBE. 1. Undistributed profits (after IVA) and capital consumption allowances. had been running at about \% million 2. Stocks, bonds, mortgages. 3. Bank loans, commercial paper, finance company loans, bankers' acceptances, Government loans. units during the summer, was slightly 4. Plant and equipment, residential structures, inventories. Source: Federal Reserve Board; see also page 28 of this issue. below 1% million in September and down to about 1% million in October. now to be in comfortable condition $223.9 billion in the third quarter, up Table 6 shows the recent data in $3 billion from the second. Civilian perspective. with respect to liquidity pressures. There is no doubt that the sharp spending rose $4 billion; defense purgain in the domestic model sales rate chases declined $1 billion. This was the Federal Fiscal Position is due in some degree to the new eleventh consecutive quarter of decline economic program. The price freeze held The Federal Government recorded in defense spending, excluding the down prices of 1972 models, and buyers another large deficit in the third quarter. impact of pay raises for military and have been promised a refund of the As measured in the national income civilian personnel which interrupted the excise tax if Congress passes the retroaccounts (NIA), the deficit was $21 }£ downtrend twice during this period. active repeal asked by the President. billion at a seasonally adjusted annual Nondefense purchases of goods and In addition, the new models became rate, down $1% billion from the second services advanced $2.7 billion, mainly available unusually early this year and due to heavy buying of agricultural quarter. commodities by the Commodity Credit this probably had a stimulative effect The NEP had no significant impact Corporation. Net interest paid, revers- on sales. The recent U.S. economic on the third quarter figures, except for ing its recent trend, rose $0.6 billion, policy actions may also be responsible about $0.4 billion (annual rate) added largely because of rapid growth of the for some share of the decline in foreign to indirect business taxes by the 10 public debt. The increase in grants-in- car sales, because the import surcharge percent import surcharge. However, aid to State and local governments was affects the prices of cars shipped from passage of the Revenue Act of 1971 also $0.6 billion, but this was a con-abroad after August 15. However, will result in retroactive revisions of siderable slowdown from the recent another and evidently quite important corporate profits tax and indirect busiexpansion rate. Transfer payments and factor is the tight supply situation that ness tax liabilities in the national insubsidies (less the current surplus of has developed as a result of the West come accounts. government enterprises) were essenReceipts in the third quarter tially unchanged. amounted to $202.6 billion at a seaTable 6.—New Car Sales sonally adjusted annual rate, up $4.3 GNP revision [Millions of units; quarterly data, seasonally adjusted at annual rates] billion from the second. Personal taxes On the basis of more complete source rose $1.6 billion, including $0.4 billion DomesImport tic attributable to a speedup in gift tax data, the estimate of third quarter Total models models collections. Indirect business taxes in- GNP has been revised up $1% billion to 1966 9.0 8.4 0.7 .- -. 8.3 7.6 .8 creased $1.2 billion—a particularly large $1,060% billion. The largest revisions 19671.0 9.7 8.6 1968 occurred in residential construction and 9.6 8.5 1.1 1969 advance—mainly due to gains in auto net exports, which were raised $1% 1.2 8.8 7.6 1970: I and alcohol tax liabilities, augmented 9.1 II 7.9 1.3 9.0 1.2 7.8 billion and $1 billion, respectively. III. by the import surcharge. Contributions 6.9 5.4 1.5 IV for social insurance rose $1 billion; According to the revised figures, GNP 1971: I 10.0 8.4 1.5 9.9 8.2 1.7 II corporate tax liabilities were up $0.5 advanced at an annual rate of 7 percent 10.7 1.7 9.1 III billion. in the third quarter and real output 12.3 10.8 1.5 Sept ._- . 10.0 1.4 11.3 Oct Total Federal expenditures at a (GNP adjusted to exclude price seasonally adjusted annual rate were changes) at a rate of 4 percent. NOTE.—Detail may not add to total because of rounding. 1970 ! 2 3 4 1971 November 1971 SURVEY OF CURRENT BUSINESS Coast dock strike that ran from the Retail sales summer into October and East and Incomplete data suggest that retail Gulf Coast strikes that began in sales in the auto group dropped slightly October. in October after huge gains in August A strengthening of consumer con- and September. However, there apparfidence and willingness to spend, which ently were sales gains in October at the new economic policy is intended to both other durable goods stores and foster, would support a continued good nondurables stores. In September, sales showing in new car sales. It is highly of nonauto durables fell slightly and unlikely, however, that sales will persist nondurables sales were unchanged, but in running at a total rate well above 10 both aggregates had registered large million units for domestics and im- increases in August. ports combined. The auto manufacturThe monthly estimates of retail sales ers have to date assessed the situation are being revised back to January 1968. cautiously. Through mid-November, The revised estimates show total retail fourth quarter production—actual and sales this year running at a level about scheduled—was little different from 3 percent higher than the sales total what had been planned before the shown by the old estimates. With requarter began. If sales remain strong, spect to sales growth, however, the new figures show a somewhat weaker inventories at yearend will be down picture for 1971 than the old figures did. sharply from their autumn level. For most months, the revised figures indicate a smaller percentage gain, or Installment credit larger percentage decline, than preAcceleration this year in the use of viously indicated. This pattern holds installment credit presumably reflects for total retail sales and for the major an increase in consumer's willingness to components—auto group, other durspend. Substantial growth in the vol- ables, nondurables. On a quarter-toume of auto credit has figured impor- quarter basis, the old sample showed tantly in the speedup, but gains in total sales rising 4.2 and 4.0 percent in credit for other goods as well as in the first and second quarters, respecpersonal installment loans have also tively. The new sample shows increases been accelerating. In the third quarter, of 4.0 and 2.6 percent, respectively. The revisions result from introduccredit in all three major categories tion of a new sample design, incorregistered gains that were at least as porating results of the 1967 Census of large as those being recorded before Business, and improved processing techthe 1969-70 economic contraction niques. Sales data for the past year on (table 7). the revised basis can be found on page S-ll of this issue of the SURVEY. The estimates of retail sales for the period Table 7.—Net Change in Outstanding Consumer Installment Credit back to January 1968 will be published [Billions of dollars; quarterly data, seasonally adjusted in the December issue. That issue will at annual rates! also carry revised estimates of retail Other inventories, which are prepared by Total Auto conOther i sumer OBE on the basis of Census Bureau goods data. 1966 1967 1968 1969 1970: 6 3 9 8 III. Ill IV 1971: I.. II Ill 2 4 0 3 40 46 41 —1.5 27 67 10 3 19 2 34 25 (2) 2 — 6 —4 4 4 23 37 2 4 14 25 27 19 18 31 31 2 4 23 24 18 6 18 28 17 21 23 12 18 26 39 1. Mainly personal loans; also includes home repair and modernization loans. 2. Less than $50 million. NOTE.—Detail may not add to total because of rounding. Source: Federal Reserve Board. Personal income Personal income was virtually unchanged from September to October. The aggregate iiicreased less than $1 billion (seasonally adjusted annual rate), after having risen $3.9 billion in September. The wage-price-rent freeze was a factor holding down income in both months. (Continued on page 27) CHART 3 Industrial Production Index, 1967=100 (Ratio scale) 120 - 100 140 - 120 .- 100 EQUIPMENT 120 Business 100 Defense and Space 80 60 140 _ INTERMEDIATE PRODUCTS 120 x Construction - All Other 100 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 n 11 140 - 120 - 100 60 - 1968 1969 1970 1971 1972 Seasonally Adjusted Data: FRB U.S. Department of Commerce, Office of Business Economics SURVEY OF CURRENT BUSINESS 8 November 1971 mm • • • •••>'•'•• In October: Unemployment rate edged down to 5.8 percent Nonfarm payroll employment unchanged Wholesale prices down 0.1 percent PRICES THE LABOR MARKET TOTAL PRODUCTION Million Persons Percent 85 16 IMPLICIT PRICE DEFLATOR FOR GNP* (Change From Previous Quarter) CIVILIAN LABOR FORCE AND EMPLOYMENT* 83 Labor Force 81 900 Hlllillln 79 - Quarterly (III) Monthly (Oct.) Quarterly (III) BLS Percent Billion $ QBE 1967 = 100 140 40 CURRENT DOLLAR GNP** (Change From Previous Quarter) 30 130 ~ 20 120 - 110 - 11 lull, 2 - 100 I i I i i I I i I i Quarterly (III) Monthly (Sept.) QBE Billions Million Persons 850 76 800 Total 700 Inventory Change 68 Man-Hours* (right scale) Final Sales 120 WHOLESALE PRICES NONFARM ESTABLISHMENTS (Employees) Employment* (left scale) \ CONSTANT DOLLAR (1958) GNP* 750 1967 =100 160 150 115 140 110 130 105 60 I I i i i i Ii I I I i I i I i l i I i i i 1 i I i i i i i I i i I i i I 120 100 I i I I i i I I i i i i I i I I i I i i i I i i I i i i i i i i i i i i 650 QBE Quarterly (III) Monthly (Oct.) Hours Percent Monthly (Oct.) BLS Dollars 45.0 3.60 BLS 1967=100 120 WHOLESALE PRICES PRODUCTION OR NONSUPERVISORY WORKERS (PRIVATE) 42.5 Average Hourly Earnings t. (right scale) X 40.0 Average Weekly Hours (|eftscale) Processed Foods and Feeds 3.40 115 3.20 110 3.00 105 2.80 100 I i i i i i I i i i i i I i i i i i I i i i i i I i l i i i I i i i x.....* 37.5 35.0 1969 1970 1971 QBE Quarterly (III) * Seasonally Adjusted * * Seasonally Adjusted at Annual Rates U.S. Department of Commerce, Office of Business Economics 1969 1970 Monthly (Oct.) 1971 BLS 1969 1970 Monthly (Oct.) 1971 BLS 9 SURVEY OF CURRENT BUSINESS November 1971 CHART 5 In October: Personal income rose only $% billion Domestic-model auto sales rate was a high 10 million units Housing starts were at an annual rate of 2 million units CONSUMPTION AND SAVING INCOME OF PERSONS FIXED INVESTMENT Billion $ Billion $ 900 100 i PERSONAL CONSUMPTION EXPENDITURES PERSONAL INCOME Producers1 Durable Equipment* \ 75 850 ""I""" * 50 800 Nonresidential Structures* I \ 550 - 750 Residential Structures* 700 I I I I I I I I I I i I I I i I I I I I I i I I I i i I i i I i I i I I I Monthly (Oct.) 500 Billion $ Billion $ Billion $ 600 40 100 Total (left scale) 550 PLANT AND EQUIPMENT EXPENDITURES* RETAIL STORE SALES* WAGES AND SALARIES* OBE Quarterly (III) Quarterly (111) OBE 35 90 V Total 500 200 80 30 Data being revised by source agency. 450 Manufacturing (right scale) i 11 i I i i 11 i I i i i i 11 i i i i i 400 150 25 100 20 70 o Expected Excluding Automotive Group 1 1 1 i i i i 11 i i i i i 11 i i i ii OBE Monthly (Oct.) 60 I I Census Monthly I I I I I I Quarterly (IV) I I I OBE-SEC Billion $ Million Units 12 CAPITAL GOODS MANUFACTURERS* NEW CAR SALES* 10 Shipments \ 700 - New Orders 650 ~ 600 Quarterly (III) Monthly (Oct.) Trade Sources & OBE Percent Dollars 4 I i i i i i I i i i i i I i i i i i I i i i i i I i i i i i I i i 11 i Monthly (Sept.) Census Million Units 2.5 2,700 PRIVATE HOUSING REAL PER CAPITA DISPOSABLE PERSONAL INCOME** _ (In 1958 Dollars) 2.0 1.5 2,600 - 6 - 2,500 1.0 .5 I i i I I i I I i I I I I I I I i I I i i i I I I i i i i I I i I I I i 1969 1970 1971 2,400 1969 1970 Quarterly (III) * Seasonally Adjusted 1971 1969 OBE * * Seasonally Adjusted, at Annual Rates Digitized FRASER U.S.for Department of Commerce, Office of Business Economics 1970 Quarterly (III) 1971 OBE Monthly (Oct.) Census N<^vember 1971 SURVEY OF CURRENT BUSINESS 10 CHART 6 11 U.S. merchandise trade balance2 shifted to a surplus of $266 million in S(jptember In third quarter: Record balan ce of pa yments deficits on both net liquid ity and o fficial bases Federal receipts and expenditures increased; NIA budge t in defi cit by $21 14 billion 11 1 I FOREIGN TRANSACTIONS INVENTORIES GOVERNMENT Billic n $ Billi on $ Billior 40 12 140 FEDERAL PURCHASES OF GOODS AND SERVICES** NET EXPORTS** CHANGE IN BUSINESS INVENTORIES** (GNP Basis) 30 8 20 4 10 0 120 Total Goods and Services /" 0 Illl -•••!_ t -4 1 Quarterly (III) l i l i \A l Billic n $ 190 6.0 \ Total ^s^T^*^ 3.0 i 1 1 ii i i i , i i i i i i 1 1 1 i i i Monthly (Sept.) iIi ii 11 Billio T $ Exports ~/* ^.. f _ 0 Monthly (Sept.) 60 1 M 1 1 i 1 II 1 I 1 1 I! 1 11 1 i 1 I1 Monthly (Sept.) 1 1 1 1 11 1 I1 1 i iit i t 1 1 i t t i 1 1 t 11 1 1 1 ii Monthly (Sept.) Current Account and Long-Term Capital t i l i l l /r""""""^ > t i l i l l i l l QBE 150 Official Reserve \\ Transactions Balance \ Total Manufacturing >^v^ and Trade \ i i i Quarterly (III) STATE AND LOCAL PURCHASES OF GOODS AND SERVICES** Balance -5 1.6 150 QBE r--~ A 1.8 ^>^*~~***s Expenditures ^^ 0 Manufacturing 175 Billio n $ 175 BALANCE OF PAYMENTS- 2.0 ••».. ,.•••*"*" 200 Quarterly (II) INVENTORY/SALES RATIOS* Census Receipts i Bi lion $ 5 2.2 nA- FEDERAL BUDGET** (NIA Basis) \ Census & QBE Ratio QBE 225 -4 -8 I 250 0 .... i Billiori $ Manufacturing Trade f\ Shipments/; Census 4 ~~ I ri? Current Account 80 - 2 BALANCE OF PAYMENTS* 100 l 1 *' Imports Bil ion $ 8 120 l DEFENSE PRODUCTS* 2.0 MANUFACTURING AND TRADE INVENTORIES* (Book Value, End of Month) i Quarterly (III) New Orders \;. Census & QBE 140 l 3 4.0 160 l Bil ion $ 4 5.0 170 i 60 QBE MERCHANDISE TRADE* 180 Defense \ 80 Quarterly (III) Billiori $ 150 i 100 Merchandise \- -*\ \ ^ QBE MANUFACTURING AND TRADE INVENTORIES* (Book Value, End of Month) i$ 125 100 -10 Data being revised by source agency. 1.4 1 1 1 1 1 I I 1 1 1 1 1 1 1 I 1 1 1 i 1 M 1969 1970 Monthly (Sept.) * Seasonally Adjusted 1 1 1 1 I i t 1 1 1 1 1971 Census & OB * * Seasonally Adjusted at Annual Rates U.S. Department of Commerce, Office of Business Economics -15 i l 1969 l i l l 1970 Quarterly (III) l i t 75 i l 1969 1971 QBE l I I I 1970 Quarterly (III) i i i 1971 QBE Noveanber 1971 SURVEY OF CURRENT BUSINESS 11 > Productivity increased in the third quar ter; the rise in unit labor costs slowed 1 In October, bank credit contin lied to e xpand but money supply declined again 11 Corporate profits (before tax and inclu ding IVA) fell slightly in the thir d quarter € 1 INDUSTRIAL PRODUCTION MONEY, CREDIT, AND SECURITIES MARKETS 130 120 260 Nondurable ftManufactures ~~ ^——-^NJotai __ ^~/\ Durable \ )?'*' Manufactures \f\ i i i i i 1 i i i ii 1 t t 111 1 1 i M i t 1 M I 1t 111 420 - 380 T 340 /InfA »»««la\ S] s^ ^^^ 100 - 220 80 200 60 180 40 Before Taxes / ^** ,** - Money Supply (right scale) 1 1 1 1 ! 1 i 1 1 1 1 = 100 1 1 1 1 i 1 1 1 1 1 1 1 t 1 1 1 1 1 I 1 1 1 Monthly (Oct.) 125 100 i Per cent 1 80 0 60 -2 1 1 1 1 1 1 1 1 1 1 1 ! 1 1 1 1 1 1 1 1 1 1 ~ 70 6 i i l i t 4 1941 140 DURABLE GOODS MANUFACTURERS* ~ .^vhjr " . f '"*••. 3-month Treasury Bills \ _J i i i i t i i t i i i i i 1 1 i i i i i i i *• i i i/i i i i 1 1 i 0 1970 Monthly (Sept.) * Seasonally Adjusted 11111 i1 1 iii 1971 * * Seasonally Adjusted at Annual Rates U.S. Department of Commerce, Office of Business Economics - \ Outputn r-j IjiJlpn^" J • • BLS Per< :ent 24 UNIT LABOR COSTS, PRIVATE ECONOMY * * (Change From Previous Quarter) 16 /^^^^ - 8 0 80 1 1 1 M 1 i 1 11 I 1969 Census i QBE Quarterly (III) 43-10 100 ^X/\ Standard and Poor's 500 60 i -8 New Orders \/ t i 111 i i11 11 i Compensation 120 •/s/^S. i OUTPUT AND COMPENSATION PER MAN-HOUR, PRIVATE ECONOMY** 16 - (Change From Previous Quarter) STOCK PRICES 36 i Monthly (Oct.) BiMic>n $ Shipments - Quarterly (III) 8 FRB 40 1969 t Corporate Yields, Moody's Aaa \ Quarterly ( II) s/~~~ Perc ent 24 10 8 24 t FRB INTEREST RATES AND BOND YIELDS 80 32 Cash Flow 20 i 1 1 1 1 1 1 Ii ( 1 Monthly (Oct.) RATIO, OUTPUT TO CAPACITY* i QBE 40 Per cent I 1 CORPORATE CASH FLOW AND PROFITS** 12 100 —\ / 1 i 100 FRB Manufacturing i Profits After Taxes ! i * i i ' 1 I i i M t i i i i 1 i i iU> i i i i i i I i i i i i Monthly (Oct.) i Biilio n $ -1 i t I . 75 60 i Quarterly (III) FREE RESERVES r-Steel '*••/ Autos l FRE Bil ion $ 2 INDUSTRIAL PRC)DUCTION* 28 Bank Credit (left scale) FRB 150 90 240 460 \^' Monthly (Oct.) 50 CORPORATE PROFITS AND IVA- ^%. ^^ 100 120 BANK CREDIT AND MONEY SUPPLY' 110 1967 Biilio n $ 500 INDUSTRIAL PR(AUCTION* 90 PROFITS AND COSTS Billior i $ J967 = 100 t 1 1 I 1 1 t 1 1i 1 1970 Monthly (Oct.) 1 M I t 1 1 i 11 1 1971 ililL.i... -8 1969 1970 Quarterly (III) 1971 BLS SURVEY OF CURRENT BUSINESS 12 November 1971 NATIONAL INCOME AND PRODUCT TABLES 1970 1970 II III 1971 IV II 1970 III 1969 II 1970 Seasonally adjusted at annual rates III 1971 ii IV in Seasonally adjusted at annual rates Billions of current dollars Billions of 1958 dollars Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2) Gross national product . Personal consumption expenditures Durable goods.. Nondurable goods Services _ 929.1 974.1 968.5 983.5 988.4 1, 020. 8 1,043.1 1, 060. 8 724.7 720.0 721.1 723.3 715 9 729 7 738 4 745 5 579.6 615.8 613 8 620 9 624 7 644.6 660.9 672 5 469 3 475 9 477 1 477 9 474 2 484 8 492 3 496 5 89.9 247.6 242 1 88.6 264.7 262 5 90.7 262.9 260.2 90.4 265.5 265 0 84.9 270.9 268 9 97.6 272.0 275.0 100.8 279.8 280.4 104.7 84.8 282.0 202.7 285 7 181 8 81.4 207.3 187 2 83.8 206.5 186 8 82 8 207.3 187 9 76 6 209.7 187 9 86 7 209 2 188 8 89.2 213.2 190 0 92 0 213 2 191 3 137.8 135.3 134.1 138.6 137.3 143.8 152.4 153.6 109.6 102.2 102.7 104.0 101.2 104.7 109.9 109 0 130.4 132 5 132 1 133 5 133 6 140 6 146.7 152 5 103 2 99 9 100 7 100 1 98 1 102 1 105 0 107 6 Nonresidential Structures __ Producers' durable equipment 98.6 34.5 64.1 102.1 36.8 65.4 102.1 36.6 65 6 104.8 37.3 67.5 100.8 37.1 63 7 104.3 37.9 66 3 107.0 38.2 68.8 109.3 39.1 70.1 80.1 24.5 55.7 78.6 24.2 54 4 79.4 24.4 55 0 80.1 24.2 55 9 75.5 23.5 52 0 77 5 23.8 53 7 78.7 23.1 55.6 79 2 22 8 56 3 Residential structures Nonfarm Farm 31.8 31.2 .6 30.4 29 7 .6 29.9 29 3 .6 28.7 28.1 .6 32.8 32 2 .6 36.4 35.7 .6 39.7 39.1 .6 43.3 42.7 .6 23.1 22 6 .4 21.3 20 9 .4 21.3 20 8 .4 20.0 19 5 .4 22.6 22 2 4 24.6 24 2 4 26.4 26.0 .4 28 5 28 0 4 7.4 7.3 .1 2.8 2.5 .3 2.1 1.8 .3 5.1 4.7 .3 3.7 3.3 .4 3.2 3.0 .2 5.7 5.2 .5 1.1 .3 .8 6.4 6.3 .1 2.3 2.0 .3 2.0 1.7 .3 3.9 3.6 .3 3.1 2.8 .4 2.6 2.4 2 4.9 4.4 .5 13 .6 7 2.0 3.6 4.2 4.0 2.7 4.2 -.5 .5 .1 2.4 2.6 3.2 2.1 2.6 -1.0 .5 55.6 53.6 62.9 59.3 63.2 59.0 63.7 59.7 63.2 60.5 66.1 61.9 66.4 66.9 68.9 68.4 48.5 48.3 52.2 49.8 52.8 50.1 52.4 49.2 51.9 49.8 62.8 50.1 53.0 54.0 55.1 54.5 209.7 219.4 216.5 220.1 223.7 228.2 230.2 234.2 145.6 139.4 138.7 138.2 138.3 137.6 137.1 139.5 99.2 78 4 20.7 97.2 75.4 21.9 96.8 75.1 21.6 96.1 74.2 21.9 95.9 73.2 22.7 96.7 73.0 23.7 95.7 71.8 23.9 97.4 70.8 26.6 73.8 65.4 65.3 63.8 63.2 61.5 60.5 62.5 110.6 122.2 119.7 124.0 127.9 131.5 134.5 136.8 71.9 74.0 73.4 74.3 75.2 76.1 76.6 77.0 Gross private domestic investment Fixed investment Change in business inventories. Nonfarm Farm . . . . Net exports of goods and services .. .. Exports Imports Government purchases of goods and services Federal . National defense Other State and local _ Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5) 929.1 974.1 968.5 983.5 988.4 1,020.8 1,043.1 1, 060. 8 724.7 720.0 721.1 723.3 715.9 729.7 738.4 745. 921.7 7.4 971.3 2.8 966.5 2.1 978.4 5.1 984.7 1, 017. 6 1, 037. 4 1, 059. 7 718.2 3.2 6.4 5.7 3.7 1.1 717.7 2.3 719.1 2.0 719.4 3.9 712.8 3.1 727.1 2.6 733.5 4.9 744. 1. 457.3 468.3 468.6 474.9 467.7 483.2 494.6 501.3 389.9 383.0 385.4 387.2 376.7 386.6 393.3 397. 449.9 7.4 465.5 2.8 466.6 2.1 469.8 5.1 464.0 3.7 480.0 3.2 488.9 5.7 500.2 383.4 6.4 1.1 380.7 2.3 383.4 2.0 383.3 3.9 373.6 3.1 384.0 2.6 388.5 4.9 396. 1. 185.3 180.9 4.5 180.2 180.8 —.6 181.8 183.7 —2.0 189.6 184.9 4.7 169.7 173.1 —3.4 191. 8 188.0 3.8 194.2 191.5 2.7 197.4 165.9 198.0 162.1 -.5 3.8 156.1 156.8 —.6 158.8 160.3 -1.5 163.7 160.0 3.7 144.4 147.5 -3.1 161.9 158.7 3.2 163.4 161.1 2.3 165. 165. 272.0 269.0 2.9 288.1 284.7 3.4 286.9 282.9 4.0 285.3 284.9 .4 297.9 290.9 7.1 291.4 292.0 .6 300.4 297.4 3.0 303.8 224.0 302.2 221.4 1.6 2.6 226.9 223.9 3.0 226.7 223.1 3.6 223.5 223.3 .2 232.3 226.1 6.2 224.7 225.3 —.6 230.0 227.4 2.6 231. 230. 1. Services. ._ 377.4 410.3 406.2 413.7 420.6 432.3 439.8 446.1 267.8 273.4 272.3 273.9 274.5 276.1 277.6 278. Structures. . 94.4 95.5 93.7 94.9 100.1 105.2 108.6 113.4 63.6 63.4 62.2 64.7 67.0 67.4 69. 929.1 974.1 968.5 983.5 988.4 1,020.8 1,043.1 1, 060. 8 724.7 720.0 721.1 723.3 715.9 729.7 738.4 745.. Gross national product Final sales .. Change in business inventories . . Goods output . Final sales Change in business inventories Durable goods Final sales _ Change in business inventories . _ Nondurable goods Final sales __ Change in business inventories _ 67.0 Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8) Gross national product Private Business Nonfarm . Farm .. . Households and institutions Rest of the world . General government 825.3 859.8 854.8 868.3 871.6 899.5 920.1 936.4 664.0 659.4 660.4 662.8 655.4 669.0 677.5 684, 792.5 764 5 28.0 823.4 795 2 28.2 819. 7 790 9 28.8 831.3 804.1 27.1 833.5 806.4 27.1 859.6 831.5 28.1 877.9 849.0 28.9 893.9 643.5 863.1 619.3 30.8 24.2 638.5 614.6 23.9 640.1 616.1 23.9 641.8 618.6 23.2 634.1 609.2 24.9 646.9 622.0 24.9 654.1 629.0 25.0 661. 634. 26. 28.5 31.7 31.0 32.1 33.0 34.2 35.0 35.9 16.5 17.0 16.8 17.0 17.1 17.6 17.7 17. 4.8 5.1 6.6 7.2 6.5 4.0 4.0 3.6 4.0 4.2 4.5 5.8 5. 121.3 122.9 124.5 60.7 60.6 60.7 60.5 60.5 60.8 60.9 61. 4.3 103.8 4.6 114.4 4.1 113.8 115.2 116.8 HISTORICAL STATISTICS National income and product data for 1929-63 are in The National Income and Product Accounts of the United States, 1929-1965, Statistical Tables (available at $1 from Commerce Department Field Offices or the Superintendent of Documents; see addresses inside front cover). Each July SURVEY contains preliminary data for the latest 2 years and final data for the preceding 2. The July 1971 issue has data for 1967-70. Prior July issues have final data as follows: 1964-65, July 1968; 1965-66, July 1969; 1966-67, July 1970. QBE will provide on request a reprint of final data for the years 1964-67. SUEVEY OF CURRENT BUSINESS November 1971 1970 1969 1970 II III 13 1970 1971 IV I II III * 1969 1970 Seasonally adjusted at annual rates II III Equals ' Net national product. . 88.2 89.8 95.6 97.3 848.0 886.5 881.6 895.3 898.6 925.2 945.7 Less: Indirect business tax and 85.7 92.9 91.9 94.2 95.8 nontax liability Business transfer payments.. 3.7 3.9 3.9 4.0 4.1 Statistical discrepancy - - - —4.1 —4.5 —5.8 —3.2 —1.6 Plus: Subsidies less current surplus government enterprises 1.1 1.7 1.8 1.9 1.7 763.7 795 9 793.4 802.2 802 1 Equals * National income Less: Corporate profits and inventory valuation adjustment _ 78.6 Contributions for social in54.0 surance Wage accurals less disburse.0 ments Plus: Government transfer pay62.2 ments to persons Interest paid by government 29.0 (net) and by consumers 24.4 Dividends. Business transfer payments _. 3.7 Equals : Personal income 99.3 101.7 4.2 —4.9 4.2 —4 0 1.6 .7 828 3 844 5 999.5 95 Qfii 961.4A 105 105.66 44.33 _2^4 —2 4 .8g 854 854 6g 70.8 71.5 73.0 69.0 75.5 78.3 57.6 57.4 58.4 58.5 63.9 65.0 77 77.2o gg 2 66.2 —.4 0 0 o 0o .0 -2.1 II III * Table 6.—National Income by Type of Income (1.10) 763 7 795 9 793 4 929.1 974.1 968.5 983.5 988.4 1 020 8 1043 1 1060 8 86.9 I Billions of dollars Table 4.—Relation of Gross National Product, National Income, and Personal Income (1.9) Less: Capital consumption allow81.1 87.6 ances - IV Seasonally adjusted at annual rates Billions of dollars Gross national product 1971 75 6 77 3 77.2 80 7 83 7 92 2 31.7 25.0 3.9 31.1 24.9 3.9 32.2 25.2 4.0 32.4 25.0 4.1 32.0 25.6 4.2 31.7 25 4 4.2 92.5 32 32.44 25' 25 77 4* 3 4.3 750.3 803.6 803.8 809.8 816.7 834.3 854.8 866.1 866 1 Compensation of employees Wages and salaries. . Private Military Government civilian Other labor income Business and professional Farm Rental income of persons Corporate profits and inventory valuation adjustment Profits before tax eno 1 828 3 841 K OKA ft 565.5 601 9 598 5 606.5 609 3 627 9 639 5 647 7 509.6 541.4 538.5 545.2 547.2 562.3 572 4 579 0 405.5 426.6 424.4 429.4 429 9 441 2 449 8 19.0 19.4 19.5 19.2 18.6 19 2 18 6 85.1 95.5 94.5 96.6 98.6 101.8 104 0 454 0 18 0 106 9 Supplements to wages and salaries. . 56.0 Employer contributions for social 27.8 insurance Proprietors' income OAO O 60.5 60.0 61.3 62.1 65.7 67.1 68.7 29.6 29.5 30.1 30. 1 33.1 33.7 34 6 28.2 30.8 30.4 31.2 32.0 32.6 33.4 34.1 67.0 66.9 67.6 66.0 65.9 66.0 66 7 68 8 50.3 16.8 51.0 15.8 51.0 16.6 51.4 14.5 51.5 14.4 51.2 14.8 51.5 15.2 51.8 17.0 22.6 23.3 23.2 23.4 23.7 23.8 24 2 24.5 78.6 70.8 71 5 73.0 69 0 75.5 78 3 77 2 . . . 84.2 75.4 75.8 78.5 71.6 79.1 83.3 83.6 39.7 44.5 24.4 20.0 34.1 41.2 25.0 16.2 34.5 41.3 24.9 16.4 35.6 42.9 25.2 17.7 32.3 39.2 25.0 14.3 36.2 42.9 25.6 17.3 37.4 46.0 25 4 20.5 37.9 45.8 25.7 20.1 Profits tax liability Profits after tax Dividends Undistributed profits Inventory valuation adj ustment Net interest -5.5 -4.5 -4.2 -5.5 -2.6 -3.5 -5.1 29.9 33.0 32.6 33.4 34.2 35.0 35.8 -6.4 36.4 Table 5.—Gross Auto Product in Current and Constant Dollars (1.15, 1.16) Table 7.—National Income by Industry Division (1.11) Billions of current dollars Gross auto product * All industries, total 30.6 35.2 34.1 22.0 42.1 40.0 43.1 Personal consumption expenditures. 31.7 28.0 Producers' durable equipment... 5.6 4.9 Change in dealers' auto inventories. .1 -.9 29.9 5.3 1.1 29.6 23.5 5.2 4.1 .5 -3.6 33.9 6.0 4.1 34.5 6.1 1.4 37.5 6.6 1.6 -1.1 -1.8 -1.4 -1.6 -2.3 2.0 2.2 2.2 2.4 1.4 3.4 3.7 3.7 3.8 3.7 -2.2 2.6 4.8 -2.3 2.7 5.0 -3.0 2.9 5.8 36.7 7.9 34.1 8.2 38.4 7.9 Net exports Exports Imports 36.6 - - - . .. Addenda: New cars, domestic 2 _ _ . New cars, foreign 32.2 5.6 26.0 6.3 30.3 6.7 30.2 5.5 17.1 6.5 Billions of 1958 dollars Gross auto product 1 28.3 33.0 31.6 19.6 36.8 34.7 37.3 Personal consumption expenditures. 30.3 25.9 Producers' durable equipment... 5.4 4.6 Change in dealer's auto inventories . .1 -.9 28.0 5.0 1.1 27.4 21.1 4.9 3.7 .5 -3.4 29.5 5.3 3.8 29.9 5.3 1.2 32.4 5,8 1.5 -1.1 -1.7 -1.3 -1.5 -2.2 2.2 2.1 1.3 2.4 1.9 3.3 3.6 3.7 3.6 3.5 -2.0 2.4 4.4 -2.1 2.4 4.6 -2.7 2.6 5.3 Net exports Exports Imports 35.0 Addenda: New cars, domestic 2. New cars, foreign 31.4 5.5 24.7 6.0 29.0 6.4 28.6 5.2 15.8 6.0 32.9 7.1 30.5 7.3 34.1 7.1 1. The gross auto product total includes government purchases. 2. Differs from the gross auto product total by the markup on both used cars and foreign cars. *Third quarter 1971 corporate profits (and related components and totals) are preliminary and subject to revision next month. O - 71 - 2 Digitized448-091 for FRASER 763 7 795.9 793.4 802.2 802.1 828.3 844.5 Agriculture, forestry, and fisheries Mining and construction Manufacturing Nondurable goods Durable goods 24.8 24.6 25.2 23.2 23.3 23.9 24.4 47 5 49 4 48 9 49.5 50.3 50.3 51 6 221 9 217.7 220.1 219.9 210.1 223.3 226.9 85.7 87.4 86.9 87.9 87.8 89.3 91.2 136.2 130.3 133.2 132.0 122.4 134.0 135.6 Transportation Communication Electric, gas, and sanitary services Wholesale and retail trade 28.8 29.5 29.0 29.9 30.0 31.7 32.1 15.7 16.9 16.8 17.2 17.3 17.0 17.2 14.1 14.4 14.2 14.6 14.8 14.8 15.5 114.8 122.1 121.6 123.1 124.7 126.6 129.9 854.6 Finance, insurance, and real estate 82.8 87.0 85.5 88.3 90.9 92.4 93.8 94.6 103.2 102.2 104.0 106.2 108.5 110.1 Services Government and government enterprises 114.3 126.5 125.9 127.7 129.4 134.1 135.9 7.2 4.1 4.8 5.1 5.6 4.6 4.3 Rest of the world Table 8.—Corporate Profits (Before Tax) and Inventory Valuation Adjustment by Broad Industry Groups (6.12) 77.2 78.6 70.8 71.5 73.0 69.0 75.5 78.3 Financial institutions 12.1 12.8 12.1 13.5 14.0 14.1 13.6 14.2 Non financial corporations 66.5 58.1 59.4 59.5 54.9 61.4 64.7 63.0 36.0 17.5 18.4 29.5 16.6 13.0 31.5 16.5 14.9 30.6 16.8 13.8 25.0 16.2 8.8 32.4 16.4 16.0 33.3 17.3 16.1 10.0 20.6 8.0 20.6 7.8 20.1 7.9 20.9 8.1 21.9 7.3 21.6 7.7 23.6 All industries, total Manufacturing Nondurable goods . Durable goods Transportation, communication, and public utilities All other industries 14 SURVEY OF CURRENT BUSINESS 1970 1969 1970 II November 1971 1971 III IV I II 1970 III * 1969 1970 Seasonally adjusted at annual rates Table 9.—Gross Corporate Product (1.14) 526.3 541.6 Net interest 540.1 547.6 544.3 568.6 579.8 56.2 55.7 56.7 58.0 62.6 64.0 52.2 51.9 52.8 53.4 55.6 56.9 350.5 366.0 364.2 368.8 367.9 378.9 386.1 311.1 324.2 322.9 326.5 325.2 333.9 340.2 39.4 41.8 41.3 42.3 42.7 45.0 45.9 1.2 1.1 1.2 1.1 1.0 1.0 Gross product originating in financial institutions 91.3 68.9 92.6 69.8 92.6 69.6 94.8 71.8 92.3 100.4 103.5 69.6 77.2 81.2 24.3 25.4 24.6 26.1 26.9 Gross product originating in nonfinancial corporations 502.0 516.2 515.5 521.5 517.4 Capital consumption allowances Indirect business taxes plus transfer payments less subsidies Income originating in nonfinancial P Wages and salaries Supplements Net interest Corporate profits and inventory valuation adjustment Profits before tax Profits tax liability Profits after tax Dividends Undistributed profits Inventory valuation adjustment..Cash flow, gross of dividends Cash flow, net of dividends 27.7 55.7 60.2 61.5 47.1 49.9 49.5 50.4 50.9 52.9 54.1 405.5 412.2 412.4 416.5 410.7 427.8 436.5 330.5 344.2 342.7 346.9 345.4 355.7 362.1 293.7 305.2 304.2 307.4 305.6 313.9 319.4 36.9 39.0 38.6 39.5 39.8 41.9 42.7 15.4 15.8 16.2 62.1 53.3 55.0 54.6 50.0 56.3 58.1 67.6 57.8 59.3 60.1 52.6 59.8 63.2 33.4 27.1 27.7 28.2 24.8 28.9 30.4 34.2 30.7 31.5 31.9 27.8 30.9 32.8 20.9 21.1 21.2 21.2 20.9 21.4 20.5 13.3 9.6 10.3 10.7 6.9 9.6 12.3 —5.5 —4.5 —4.2 —5.5 —2.6 -3.5 -5.1 83.8 62.9 84.8 63.7 85.2 63.9 86.5 65.3 83.5 62.7 Other labor income 342. 5 ' f ;£• « • o a?'? 91.1 69.8 94.3 73.8 62> ws.b 00 _ 365. 0 321. 5 43. 5 166 Capital consumption allowances , Indirect business taxes plus transfer payments less subsidies Compensation of employees Net interest .115 .127 .125 1.220 .128 1.242 .134 .139 .141 579.0 206.8 161.7 140.1 107.1 125.0 32.0 32.6 33.4 34.1 Business and professional Farm 67.6 51.0 16.6 66.0 51.4 14.5 65.9 51.5 14.4 66.0 51.2 14.8 66.7 51.5 15.2 68.8 51.8 17.0 Rental income of persons . Dividends 22.6 24.5 58.8 23.3 25.0 64.7 23.2 24.9 63.7 23.4 25.2 65.6 23.7 25.0 66.7 23.8 25.6 67.0 24.2 25.4 67.4 24.5 25.7 68.8 insurance - 65.9 79.6 81.1 81.2 84.8 87.9 96.4 96.9 33.0 38.5 41.4 39.0 39.4 40.7 47.0 45.6 2.1 8.3 22.5 3.9 9.7 27.4 3.6 9.5 26.7 4.2 9.9 28.1 5.1 10.4 29.8 5.0 11.0 31.1 6.1 11.4 31.9 6.3 11.5 33.4 26.3 28.0 27.8 28.3 28.4 30.9 31.3 31.6 Less: Personal contributions for anrtnl inanr<anr><> ft Less: Personal tax and nontax payments 116.2 115.9 118.0 113.5 115.2 112.7 114.0 116.9 Equals : Disposable personal income. . 634.2 . 687.8 685.7 696.2 701.5 721.6 740.8 749.2 596.3 633.7 631.5 638.9 643.0 663.2 679.3 Personal consumption expenditures.. 579. 6 615.8 613.8 620.9 624.7 644.6 660.9 Interest paid by consumers 15.8 16.9 16.8 17.1 17.4 17.7 17.9 Personal transfer payments to for1.0 eigners .9 1.0 .9 .9 .9 .9 691.5 672.5 18.0 Equals : Personal saving Personal saving r ate , 3 percent 58.4 1.0 60.9 57.7 513.5 531.5 533.0 536.0 532.5 542.7 551.8 3,130 3,358 3,353 3,395 3,410 3,498 3, 583 2,535 2,595 2,606 2,613 2,588 2,631 2,669 553.2 3,614 2,669 37.9 21 ' o 6.0 54.1 7.9 54.2 7.9 57.4 8.2 58.5 8.3 8.1 8.2 12^0 95.9 74.9 Table 11. — Personal Consumption Expenditures by Major Type (2.3) Personal consumption expendi579.6 615.8 613.8 620.9 624.7 644.6 660.9 tures 438. 5 1.272 .143 .109 .768 .030 .117 .810 .035 .116 .801 .034 .118 .811 .035 .122 .829 .037 .122 .824 .037 .124 .829 .037 . 8o2 •038 Corporate profits and inventory valuation adjustment .144 Profits tax liability. . .078 Profits after tax plus inventory valuation adjustment— .067 .125 .064 .129 .065 .128 .066 .120 .059 .130 .067 .133 .070 •J3g .062 .064 .062 .060 .063 .064 88.6 90.7 90.4 84.9 97.6 100.8 40.4 37.1 Automobiles and parts. - . Furniture and household equipment. 36.3 37.4 13.3 14.2 Other 39.1 37.6 14.0 38.8 37.0 14.6 32.7 37.6 14.6 44.1 39.5 14.0 89.9 Food and beverages Clothing and shoes Gasoline and oil Other.. ... -. oeryi B Services «* Housing - - . - - - --- TransDortation other 104.7 49.2 40.6 15.0 247.6 264.7 262.9 265.5 270.9 272.0 279.8 282.0 138.2 57.0 24.3 60.4 139.2 57.3 25.0 60.5 242.1 262.5 260.2 265.0 268.9 275.0 280.4 285.7 84.0 91.2 90.3 91.8 94.1 96.4 98.6 33.7 36.1 35.7 36.7 36.9 37.7 38.6 16.5 17.9 17.6 18.1 18.3 18.6 18.9 107.8 117.3 116.6 118.3 119.5 122.3 124.2 100.7 39.7 19.1 126.3 122.5 131.8 131.4 132.4 134.3 135.1 50.3 52.6 52.1 52.4 54.2 54.9 21.1 22.9 22.6 22.9 23.5 23.8 53.7 57.5 56.9 57.8 59.0 58.3 Table 12.— Foreign Transactions in the National Product Accounts (4.1) Exports of goods and services 672.5 45.7 40.4 14.6 55.6 1. Excludes gross product originating in the rest of the world. 2. This is equal to the deflator for gross product of nonfinancial corporations, with the d ecimal point shifted two places to the left. 3. Personal saving as a percentage of disposable personal income. *Third quarter corporate profits (and related components and totals) are preliminai y and subject to revision next month. 866.1 572.4 206.7 161.7 138.3 104.9 122.6 31.2 Nondurable goods 1.253 1.263 562.3 203.2 159.6 135.5 102.6 121.0 30.4 Addenda: Disposable personal income: Total, billions of 1958 dollars Per capita, current dollars Per capita, 1958 dollars. Dollars Current dollar cost per unit of 1958 dollar gross product originating in nonfinancial 1.166 1.215 1.205 corporations 2 547.2 198.4 155.1 131.8 99.7 117.3 66.9 51.0 15.8 Durable goods 431.8 437.0 545.6 201.4 159.1 130.7 97.2 116.2 30.8 57 Q 63 5 30 5 oo n 540.6 200.9 158.9 127.9 95.6 116.2 67.0 50.3 16.8 State unemployment benefits Veterans benefits Other 9 Billions of 1958 dollars Gross product originating in 430.5 425.0 427.7 427.6 416.7 nonfinancial corporations III 28.2 Old-age, survivors, disability, and 1f1K 540.9 552.0 54.5 15.0 461. 5 389. 3 „„ 557. o 53.6 14.6 II 750.3 803.6 803.8 809.8 816.7 834.3 854.8 Wage and salary disbursements 509.6 541.4 Commodity-producing industries.. 197.4 200.7 157.6 158.3 120.0 129.1 Distributive industries Service industries . 88.1 96.7 Government 104.1 114.8 28. 5 54.1 14.8 Personal income 65. 5 27.8 49.5 12.9 586. 3 1.1 Corporate profits and inventory 74.2 66.0 67.2 68.2 64.0 70.4 71.7 valuation adjustment 79.7 70.6 71.4 73.6 66.6 74.0 76.8 Profits before tax 34.1 34.5 35.6 32.3 36.2 37.4 39.7 Profits tax liability 40.0 36.4 36.9 38.1 34.3 37.8 39.4 Profits after tax Dividends - - - 22.4 22.8 23.0 23.0 22.7 23.2 22.2 17.6 13.6 13.9 15.1 11.6 14.6 17.2 Undistributed profits Inventory valuation adjustment- . —5.5 —4.5 —4.2 —5.5 —2.6 -3.5 -5. 1 Cash flow, net of dividends I Table 10.—Personal Income and its Disposition (2.1) Income originating in corporate busi425.9 433.1 432.6 438.1 432.9 450.3 458.9 ness Compensation of employees Wages and salaries Supplements IV Billions of dollars 1 Gross corporate product III Seasonally adjusted at annual rates Billions of dollars Capital consumption allowances .. 51.3 Indirect business taxes plus transfer 49.2 payments less subsidies II 1971 63.8 64.1 63.2 64.6 63.7 64.0 63.2 Income and 66.8 67.1 69.6 66.1 66.4 68.9 55.6 62.9 .9 .9 .9 .9 .7 .7 .7 55.6 63.8 64.1 64.6 64.0 66.8 67.1 69.6 53.6 59.3 59.0 59.7 60.5 61.9 66.9 68.4 Transfers to foreigners Personal Governrnent 2.9 .9 2.1 3.1 .9 2.2 3.0 1.0 2.0 3.2 .9 2.3 3.3 .9 2.4 3.1 .9 2.2 3.2 1.0 2.2 3.2 1.0 2.2 Net foreign investment -.9 1.3 2.0 1.6 .2 1.8 -3.0 -2.0 Capital grants received by the United States Payments to foreigners Imports of goods and services . .. SURVEY OF CURRENT BUSINESS November 1971 1970 1969 1970 II III 15 1970 1971 IV I 1969 III* II II 1970 Seasonally adjusted at annual rates Federal Government expenditures 196.9 191.5 193.8 191.3 189.3 195.6 198.3 94.9 36.3 19.0 46.8 92.2 30.6 19.3 49.3 94.5 30.9 89.7 31.9 19.7 50.0 91.0 29.0 19.4 49.8 87.6 32.4 88.4 33.4 202. 6 90. 0 33.9 20.6 55.9 21. 8 56. 9 189.5 205.1 207.9 206.7 209.8 213.2 220.9 223. 9 19.1 49.2 20.6 55.0 Purchases of goods and services National defense Other 99.2 78.4 20.7 97.2 75.4 21.9 96.8 75.1 21.6 96.1 74.2 21.9 95.9 73.2 22.7 96.7 73.0 23.7 95.7 71.8 23.9 97. 4 70.8 26. 6 Transfer payments To persons To foreigners (net) 52.4 50.4 2.1 63.4 61.2 2.2 65.3 63.3 2.0 64.6 62.4 2.3 67.5 65.0 2.4 69.6 67.4 2.2 77.5 75.3 2. 2 77. 6 75. 3 2.2 Grants-in-aid to State and local governments 20.3 24.4 23.9 24.9 25.9 27.3 29.5 30. 1 Net interest paid 13.1 14.6 14.3 15.0 14.8 14.0 13.4 14 0 Subsidies less current surplus of government enterprises . . ... 4.6 Less : Wage accruals less disbursements .0 Surplus or deficit (— ), national income and product accounts 5.5 5.8 5.7 5.7 4.8 4.9 .0 -2.1 -.4 .0 .0 .0 .0 5.5 I II III Index numbers, 1958=100 Table 13.— Federal Government Receipts and Expenditures (3.1, 3.2) Personal tax and nontax receipts. .. Corporate profits tax accruals. -_ Indirect business tax and nontax accurals_ - -. Contributions for social insurance. .. IV Seasonally adjusted Billions of dollars Federal Government receipts _ III 1971 -22.6 -21.2 7.3 -13.6 -14.1 -15.4 -20.5 -17.5 Table 16.— Implicit Price Deflators for Gross National Product (8.1) Gross national product 128.21 135.29 134.32 135. 97 138.07 139.88 141. 27 142.31 Personal consu mption expenditures ... 123.5 129.4 128.7 129.9 131.7 133.0 134.3 135.4 - - .. 106.0 108.9 108.2 109.2 110.8 112.5 113.0 122.1 127.7 127.4 128.1 129.2 130.0 131.3 - 133.2 140.2 139.3 141.0 143.1 145.6 147.6 - -- 113.8 132.3 149.3 Durable goods _ Nondurable goods Services - . Gross private domestic investment . 126.4 132.6 131.2 133.3 136.2 137.7 139.7 141.7 123.0 130.0 128.6 130.7 133.6 134.5 136.1 138.0 Structures 141.1 152.0 149.6 154.1 157.9 159.6 165.7 Producers' durable equipment _ . 115.1 120.1 119.3 120.6 122.6 123.4 123.8 171.4 124.5 137.9 142.4 140.9 143.8 144.7 147.9 150.4 137.9 142.5 140.9 143.9 144.8 148.0 150.5 133.2 138.6 138.5 139.4 140.0 141.4 143.7 152.0 152.1 145.9 114.7 120.6 119.8 121.6 121.7 125.2 125.2 110.8 119.2 117.7 121.4 121.5 123.4 123.8 125.2 125.5 Fixed investment Nonresidential - Residential structures .- ... Nonfarm .. . Farm Change in business inventories Net exports of goods and services. . Exports Imports ... . Government purchases of goods and services . ..144.0 157.3 156.1 159.3 161.7 165.8 167. S 168.0 134.4 148.6 148.2 150.5 151.8 157.2 158. 2 153.9 165.1 163.1 166.8 170.2 172.8 175.5 155.9 177.8 Federal state ana local Table 14.— State and Local G overnment Receipts and Expendiltures (3.3, 3.4) State and local government receipts Personal tax and nontax receipts Corporate profits tax accruals Indirect business tax and nontax accruals Contributions for social insurance Federal grants-in-aid Table 17.— Implicit Price De flators for Gross National Product by Major T^fpe of Product (8.2) 119.0 133.4 131.9 135.3 138.5 143.7 149.2 21.3 3.4 66.7 23.6 3.5 73.6 23.5 3.5 72.8 23.8 3.7 74.5 24.2 3.3 76.4 25.1 3.8 78.7 25.6 4.0 81.1 26.9 4.0 83. 8 7.3 20.3 8.3 24.4 8.2 23.9 8.4 24.9 8.7 25.9 8.9 27.3 9.1 29.5 9- 3 30. 1 State and local government expendi118.9 132.9 130.0 135.1 139.8 144.1 147.7 tures 150.3 Purchases of goods and services 110.6 122.2 119.7 124.0 127.9 131.5 134.5 Transfer payments to persons 11.8 14.4 14.0 14.8 15.6 16.4 16.9 .2 .4 .0 Net interest paid .1 .1 .1 .3 Less: Current surplus of government 4. 1 4.0 4.0 3.5 enterprises 3.8 3.9 3.8 Surplus or deficit (—), national income and product accounts .1 .5 1.9 .2 -1.3 -.4 1.6 136. 8 17-2 Table 15. — Sources and Uses of Gross Saving (5.1) 170.8 Personal saving 37.9 54.1 54.2 57.4 58.5 58.4 60.9 20.0 16.2 16.4 17.7 14.3 17.3 20.5 Undistributed corporate profits Corporate inventory valuation adjustment -5.5 -4.5 -4.2 -5.5 — 2. 6 -3.5 -5.1 Corporate capital consumption allowances 51.3 56.2 55.7 56.7 58.0 62.6 64.0 Noncorporate capital consumption allowances 29.9 31.4 31.3 3L5 31.8 32.9 33.3 .0 .0 .0 .0 .0 .0 .0 Wage accruals less disbursements 57 7 20 1 Government surplus or deficit (— ), national income and product accounts Federal State and local Capital grants received by the United States —6 4 65 5 0 7.3 -13.6 -14.1 -15.4 -20.5 -17.5 -22.6 -21.2 .1 1.6 3.7 .5 .2 -1.3 -.4 1.9 .9 .9 .9 .9 .7 .7 .7 Gross private domestic investment. . 137.8 135.3 134.1 138.6 137.3 143.8 152.4 -.9 2.0 .2 Net foreign investment .. .. ... 1.3 1.6 1.8 -3.0 153. 6 —2.0 -4.0 —2. 4 subject to revision next month. Services 140.9 150.1 149.2 151.0 153.2 156.6 158.4 160.0 Structures . - - ... 140.9 150.2 147.9 152.5 154.9 157.1 161.1 164.2 104.5 107.9 106.6 107.8 112.4 114.4 115.2 115.5 Addendum: .- Table 18. — Implicit Price Deflators for Gross National Product by Sector (8.4^ 128.21 135. 29 134.32 135. 97 138.07 139.88 141.27 142.31 .. 124.29 130.38 129. 43 131. 00 132. 98 134. 45 135. 81 136. 85 Private Business Nonfarm Farm 123.2 129.0 128.1 129.5 131.4 132.9 134.2 123.5 129.4 128.4 130.0 132.4 133.7 135.0 115.5 118.0 120.0 116.8 108.4 112.8 115.6 Households and institutions 172.8 186.8 171.1 188.7 187.5 190.4 193.2 199.6 201.9 General government Table 19.— Gross National Product: Period (7.7) 7.4 -13.1 -12.2 -15.2 -21.7 -17.9 -21.0 -17.5 151. 6 Statistical discrepancy 126.1 119.2 131.0 -4.1 -4.5 -5.8 -3.2 -1.6 -4.9 135.2 136.0 115.1 203.2 66. y 136.9 136.6 136.2 140.2 137.5 145.6 149.4 Gross investment 117.3 122.3 121.6 122.6 124.1 125.0 125.7 111.7 115.4 114.5 115.8 117.5 118.5 118.9 121.4 127.0 126.6 127.6 128.3 129.7 130.6 Durable goods . Nondurable goods Gross national product . 133.5 153.4 153.3 157.8 160.0 167.7 173.7 Gross private saving. . Goods output Gross auto product 3.7 128.21 135.29 134.32 135.97 138.07 139.88 141.27 142. 31 128.3 135.3 134.4 136.0 138.2 140.0 141.4 142.4 Gross national product Final sales Change Gross private product : Current dollars Constant dollars Implicit price deflator Chain price index __ . Preceding Percent at annual rate Percent Gross national product: Current dollars Constant dollars Implicit price deflator Chain price index from 4.8 4.9 4.8 -.6 5.5 5.3 .7 4.6 5.0 2.0 6.3 1.3 -4.1 5.0 6.3 5.5 4.7 13.8 8.0 5.3 6.4 9.0 4.8 4.0 4.8 7.0 3.9 3.0 3.8 7.3 2.6 4.5 4.6 4.2 -.7 4.9 4.7 5.0 .8 4.1 4.6 1.5 6.5 1.5 -4.4 6.2 4.9 4.5 5.4 13.4 8.5 4.5 5.5 9.5 5.2 4.1 4.9 7.3 4.0 3.1 4.0 7.5 2.5 5.3 By ALLAN H. YOUNG, JOHN C. MUSGRAVE, and CLAUDIA HARKINS Residential Capital in the United States, 1025-70 Estimates of the value of the Nation's stock of residential capital are presented for the years 1925-70. Annual estimates of gross and net stocks of residential structures computed by the perpetual inventory procedure are given in constant (1958) prices and current prices. The current-dollar net stock estimates are compared with and found to be quite similar to alternative "benchmark" estimates based on the decennial Censuses of Housing. Also, annual estimates of depreciation developed by the perpetual inventory method are compared with those now used in the national income and product accounts. national income and product, inputoutput, and flow of funds accounts. Methods of stock estimation housing inventory. The two sets of estimates are largely independent and provide useful checks on each other. They are for the most part consistent. The two sets of estimates are compared and the reasons for divergences are discussed later in this article. Because the available data permit greater scope and detail in the perpetual inventory estimates than in the benchmark estimates, this article focuses on the perpetual inventory figures. It is possible to derive a third set of estimates using a combination of the perpetual inventory and benchmark methods. For example, estimates for the 1960's can be developed by starting with the 1960 benchmark figure, adding annual investment flows for the 1960's, and deducting annual estimates of the loss in value of the stock. This third method, yielding "benchmarked perpetual inventory" estimates, was employed to test the assumptions used in computing the benchmark and the perpetual inventory estimates. The coverage of the perpetual inventory estimates and the data and methods used to derive them are described below. Next, the growth and composition of residential capital in the United States as shown by these estimates is discussed. Estimates of residential capital consumption derived in this study are then compared to those used in the national accounts. Finally, the benchmark estimates of the residential stock are described and the two sets of stock estimates are compared. The two procedures used to derive capital stock estimates in this report are the "benchmark" method and the "perpetual inventory" method. The benchmark method involves measurement of the stock at given points in time for which Census-type data exist. Implementation of this method depends on the availability of satisfactory data of this type. Housing is one of the few areas for which it can be implemented, A HIS article presents newly developed because detailed data are available annual estimates of the stock of resi- from the decennial Censuses of Housing. dential capital in the United States for However, as noted later, the Census the years 1925 through 1970, describes data are by no means free of statistical the methodology used, and analyzes the problems. growth and composition of the stock. Although the benchmark method is, The estimates shown in this article in principle, more reliable because it is are a segment of a larger project to based on direct measurement of the measure the entire tangible wealth of actual stock, the perpetual inventory the Nation which OBE is conducting method is more widely used in capital as part of an Interdepartmental Study stock estimation because, given the of Economic Growth. Previous OBE state of the available data, it presents work on capital stock has provided esti- fewer data problems than the benchmates of fixed nonresidential business mark method and provides estimates of capital1 and provisional estimates of detailed characteristics of the stock on consumer durable goods.2 Future re- different bases of valuation. It starts search is projected to cover stocks of with investment flows and obtains Government capital assets,3 business gross capital stock estimates for given points in time by cumulating past inventories, and land. Because of methodological problems investment flows and deducting the and data deficiencies, estimates of investment that has been discarded capital stocks are less well developed from the stock. than those of capital flows—saving and Residential stock estimates based on investment—which are found in the both the benchmark and perpetual inventory methods are presented in this 1. Office of Business Economics, Fixed Nonresidenlial The Perpetual Inventory article. The perpetual inventory estiBusiness Capital in the United States, 1925-1970, U.S. Department of Commerce, National Technical Information Service Estimates mates are shown annually for year ends (forthcoming). from 1925 through 1970. Benchmark 2. Henry Shavell, "The Stock of Durable Goods in the Hands of Consumers, 1946-1969," 1970 Proceedings of the The perpetual inventory estimates of estimates were computed for 1950, Business and Economics Section of the American Statistical the residential stock cover all housing— 1956, and 1960, and extrapolations Association, 1971. 3. Estimates of the value of that portion of Government public and private, housekeeping and from the 1960 figure through 1969 were capital operated by private contractors are given in the derived using periodic surveys of the nonhousekeeping, farm and nonfarm, volume cited in footnote 1. 16 November 1971 SURVEY OF CURRENT BUSINESS mobile homes and conventionally built ure, OBE is currently preparing an structures. This coverage is broader allocation of the private housekeeping that than of the residential investment portion of the perpetual inventory component of GNP, which omits mobile stock estimates into owner-occupied, homes and public structures. Expendi- tenant-occupied, and vacant compotures in the omitted categories are nents. This is being done using data included in GNP, however, as parts of described later in this article in the personal consumption expenditures for discussion of the benchmark estimates. durable goods and government pur- These stock estimates by tenure will be chases of goods and services. (A published in the SURVEY in the near reclassification is under consideration, future. which would shift expenditures on mobile homes from the durables con- Investment data sumption component of GNP to the For the years since 1929, the period residential investment component.) for which comprehensive and consistent Tables 1 and 2 show, in constant GNP estimates exist, the appropriate (1958) and current dollars, respectively, components of GNP were used as the estimates of gross and net residential annual investment flows in calculating stocks, at yearends 1925-70, for the the perpetual inventory estimates of residential stocks. The flows were following types of structures: extended back into the nineteenth Total, all types century using data from various sources. Private nonfarm structures, 1-4 Data sources and procedures are given units in detail in the appendix to this article. Private nonfarm structures, 5 or The data on public and private resimore units dential construction outlays that enter Publicly owned structures, Federal the GNP represent the value of new Publicly owned structures, State residential construction put in place in and local the United States including both new Farm structures structures and additions and alteraPrivate nonhousekeeping structures tions to existing structures. Land deMobile homes velopment costs are included but not land acquistion costs nor maintenance Table 3 shows the age distribution of and repair expenditures. The construcgross stocks and the ratio of net to gross tion outlay data in the GNP provide stocks, for selected years 1925-70, for the basis for computing stocks of the the following types of structure: following types of residential structures: private nonfarm, farm, private nonTotal, all types housekeeping, Federal, and State and Private nonfarm structures, 1-4 local. For this study, private nonfarm units investment data for structures and for Private nonfarm structures, 5 or additions and alterations were almore units located between structures of 1-4 units Farm structures and those of 5 or more units using data Table 4 shows estimates of private described in the appendix to this article. residential capital consumption, sepa- (The estimates of value of new private rated into farm and nonfarm segments. nonfarm residential construction put in Also shown are the private residential place for 1-unit and 2-or-more-unit capital consumption estimates now structures released by the Bureau of the now used in the national income and Census in November 1971 were not product accounts. incorporated into the stock calculaThe perpetual inventory estimates tions.) The investment stream for mocalculated in this study do not provide bile homes was estimated from trade information on the composition of association data. residential capital by tenure (ownerThe GNP component measuring investoccupied, tenant-occupied, vacant). Be- ment in residential structures includes cause there is considerable interest in brokers' commissions on transactions estimates of residential stocks by ten- in such structures, both new and used. 17 If the investment flows used for residential capital stock estimation were to include commissions on transactions in existing structures, the structures that change ownership would not be valued consistently with those that do not change ownership. Many houses change hands a number of times during their lives, and the commissions on sales of a single house can amount to several thousand dollars. A house that has been sold many times would thus be valued in the stock considerably higher than an identical house that has not changed hands. It seemed desirable, therefore, to include in the investment flows used for stock estimation the brokers' commissions only on new houses. Inclusion of these commissions results in a structure entering the housing stock at a value representing its total cost to the original buyer (exclusive of the value of the underlying land) and keeping that value so long as it remains in the gross stock. The residential stock can alternatively be calculated using the private residential investment flow exactly as it enters GNP, i.e., including commissions on used as well as new structures. The memoranda in tables 1 and 2 show the amounts by which stock estimates thus calculated exceed the stock estimates shown in those tables. Thus, to obtain the alternative estimates of gross or net stocks, the appropriate memorandum column should be added to the total stock, and to the stock of private nonfarm 1-4 unit structures, shown in the table. The commissions entering the private residential investment component of GNP, on both new and used structures, are negligible except for those on transactions in private nonfarm 1-4 unit structures. The residential investment component of GNP includes net transfers of existing structures between the public and private sectors (offset by an entry of equal size and opposite sign in the government purchases component of GNP). Such transfers are mainly purchases of private housing by State and local governments. These structures are usually purchased to be demolished (to make way for new roads or buildings) and such transfers were treated in the stock calculations as permanent losses 18 SURVEY OF CURRENT BUSINESS November 1971 from the housing stock rather than as shifts from the private to the public stock. However, Federal military housing built during World War II and transferred to State and local or private ownership after the war was moved to the appropriate sector's stock in the year of transfer. An important type of transfer that has relevance for the stock estimates presented in this article but that does not figure in the GNP calculations is the shift of farm housing in urban fringe areas to nonf arm housing use during the past three decades. Estimates of the value of these transfers were derived from the decennial Censuses of Housing. Such transfers, like those of military housing mentioned above, affect the composition but not the size of the housing stock. Intersector transfers of residential structures in the stock calculations are valued at original acquisition prices rather than at the prices at which they were sold secondhand. Thus, when a structure is transferred between sectors, the gross stock of the selling sector is decreased and the gross stock of the purchasing sector is increased by the original acquisition price of the structure, and the total gross housing stock remains unchanged. Similarly, the net stocks of the selling and purchasing sectors are modified by the depreciated value of the structure at the time of sale, and the total net housing stock remains unchanged. This procedure is based on the assumption that a structure which remains in residential use does not undergo any significant change in value when it is transferred between sectors.4 difference between cumulated past in- other housing continues in use long vestment and cumulated discards, past the average life. The pattern of would equal $10 million at the end of retirements used in this study, a modiyear 1, $20 million at the end of year fication of the Winfrey S-3 curve,6 is a 2, and so on, reaching $400 million at bell-shaped distribution centered on the the end of year 40. In succeeding years, average life with retirements starting the stock would stay at $400 million at 5 percent and ending at 195 percent as annual investment was offset by of the average. annual discards. Under this "gross" concept, an asset enters the stock with Valuation a specific value and carries that value Capital stock measures derived by as long as it is in the stock. (The the perpetual inventory method can question of valuation is discussed be- be computed on various bases of low.) In other words, assets in the valuation. Historical-cost measures are gross stock are not adjusted for any derived by valuing each item in the physical wear and tear or obsolescence stock at the original price at which which may occur during their lives. it was purchased new. The stock estimate for any particular year thus Service lives and discards represents a mixture of assets valued Information on service lives of hous- at prices of different periods. Such ing is deficient. Not enough is known measures are not particularly useful about average lives or the dispersions of for economic analysis, and no historicalcost measures are shown in this article. retirements about these averages. Constant-cost (or "real" or "physicalAfter a review of the available evidence, it was decided to use the aver- volume") capital stock measures are age service lives that were used in a derived by valuing all assets at the study by Goldsmith and Lipsey.5 These prices of a specific period (1958 prices lives are 80 years for 1-4 unit structures, in this study) regardless of their actual 65 years for structures with 5 or more prices in the years of original purchase. units, and 40 years for nonhousekeep- To calculate constant-cost stocks, the ing structures. Additions and alterations gross investment flows must be exwere assumed to have lives half as long pressed in constant prices. This is as these. Mobile homes were assigned a done by applying appropriate price life of 16 years based on trade associa- indexes to the current-dollar investtion data. These lives for structures are ment flows. The constant-cost stock considerably longer than those used for measures the physical volume of restax purposes under IRS regulations, idential capital. which permit a 50-year maximum. Beginning with 1963, the currentWhile it is difficult to attach precision dollar residential investment series to the lives selected, it is clear that which enter the GNP are deflated by actual lives are longer than those per- the Census Bureau's price index for mitted by IRS. The evidence concerning new one-family houses. Data for years service lives includes the age distribu- prior to 1963 are deflated by a privately Gross stocks tions of houses in the decennial Censuses compiled residential construction cost The perpetual inventory estimates of of Housing, an appraiser's study of index.7 It is generally thought that gross stocks were derived by cumu- dwellings in St. Louis in the 1950's, and this cost index is biased upward, relating past flows of residential invest- comparisons with the benchmark esti- sulting in an understatement of real ment and deducting the investment mates developed in the course of this residential investment prior to 1963, that is discarded from the stock. To study. and a revision in OBE's deflation illustrate, assume a constant rate of These service lives are averages, and investment of $10 million per year in actual retirements from the stock a new type of residential structure with should be distributed about the aver6. Robley Winfrey, Statistical Analyses of Industrial PropRetirement, Iowa Engineering Experiment Station, Bula life of 40 years. Abstracting from ages. Some housing is destroyed after a erty letin 125, December 11,1935. price changes, the gross stock of this few years of use by fire or flood, while 7. For a description of the Census index, see John C. Musgrave, "The Measurement of Price Changes in Constructype of structure, calculated as the tion," Journal of the American Statistical Association, 4. For a discussion of the valuation of intersector transfers in OBE's estimates of nonresidential business capital, see the volume cited in footnote 1. 5. Raymond W. Goldsmith and Robert E. Lipsey, Studies in the National Balance Sheet of the United States, National Bureau of Economic Research, 1963, Volume 1, Chapter 3. September 1969. The pre-1963 deflators are described in the references given in the appendix to this article referring to the methodology of the national accounts. November 1971 SURVEY OF CURRENT BUSINESS procedure is under study. If and when applied to the net value of 1-4 unit a decision is made to revise the pro- structures and 2.4 percent per year to cedure for deflating residential con- the net value of housekeeping strucstruction, new capital stock estimates tures with 5 or more units. These will be prepared using the revised rates are consistent with the evidence data. However, on the basis of the provided in several studies conducted work done thus far on this question, in the 1930's which shows that depreciit appears that any revision of the ation of residential housekeeping strucprice indexes that might be made tures tended to follow a declining would have only a small impact on the balance formula with the annual rate estimates of the residential capital of depreciation in the neighborhood of stock. 2 percent of the net value.10 Additional A third valuation procedure, known support for these rates was provided by as current-cost valuation, expresses all the comparisons of the perpetual initems in the stock at any specified ventory and benchmark estimates that period in the prices of that period. This are discussed later in this article. is done by applying price indexes to The depreciation rates used for nonrevalue the constant-cost stock esti- housekeeping residential structures and mates. The current-cost stock estimates mobile homes are higher, because of the in effect measure the dollar replace- shorter service lives involved. For all ment value of residential capital. types of residential capital, the declining balance depreciation rates used Depreciation and net capital stocks in this study are equivalent to roughly Assets are carried in gross capital 1% times the first year percentage stocks at their full value during the en- depreciation under straight line method. tire time they remain in the stock. Net stock measures, on the other hand, Age of capital stocks represent the depreciated value of the Information on the age structure of capital stock. There is no general agreement as to the correct method of com- capital stocks is useful in analyzing puting economic depreciation,8 the the condition of the housing stock. value of productive services of an asset Three measures of age structure are used up each year. One widely accepted presented in this article: the ratio of accounting method uses the "straight net to gross stocks, the average age of line" pattern, which assumes equal dol- gross and net stocks, and the age lar depreciation each year over the life distribution of the gross stock. The of the asset. Another important method net/gross ratios show the extent to uses the "declining balance" pattern, which the services available in new which assumes equal percentage de- residential capital remain intact, while preciation each year over the life of the the average age provides information on asset. The annual declining balance the absolute ages of gross and net depreciation charge for an asset will stocks.11 The age distribution of the equal a certain fixed percentage of the gross stock shows the proportion of the net (depreciated) value of the asset at stock that is of a given age. the beginning of the year. The depreciation method used to compute the net stock estimates in this article was of the declining balance type.9 A rate of 2 percent per year was 8. "Depreciation" as used in this study is synonymous with the term "capital consumption" used in the national income and product accounts, which includes both depreciation proper and accidential damage to fixed capital. 9. Estimates of net stocks and depreciation using the straight line formula were also computed and are available on request. 10. For a summary of these studies, see Appendix E in Leo Grebler, David M. Blank, and Louis Winnick, Capital Formation in Residential Real Estate, National Bureau of Economic Research, 1956. Grebler, Blank, and Winnick relied heavily on data from the FHA comparing sales prices, ages, and replacement costs of existing houses sold in 1939. Changes in FHA appraisal procedures prevented a similar study with current data. 11. For a discussion of the relations between these two measures of age, see the volume cited in footnote 1. 19 Growth and Composition of Residential Capital Stocks Gross stocks The Nation's supply of housing, as measured by constant-dollar gross stocks, increased 150 percent in the 45-year period from 1925 to 1970, representing a compound annual growth rate of 2.0 percent. The stock has increased every year since 1925, except for the depression years of 1933 and 1934. The most rapid growth occurred in the 1950's, with the stock increasing at a compound annual rate of 3.3 percent over the decade. The growth rate in the 1960's was slightly above the average rate for the entire 1925-70 period. The Nation's stock of housing has been and continues to be composed predominantly of 1-4 unit structures, most of which are single-family houses. At the end of 1970, private nonfarm 1-4 unit structures accounted for 81 percent of the value of the constantdollar gross stock of residential structures. Privately owned apartment buildings (structures with 5 or more units) formed the next largest component, accounting for 9 percent of the stock. Farm housing accounted for 4 percent of the stock, while public housing, mobile homes, and private nonhousekeeping residential s t r u c t u r e s each accounted for about 2 percent (see table A). Over the period 1925 to 1945, the share of private nonfarm 1-4 unit structures in the total stock was about 80 percent. The share steadily increased from 1945 until 1960, when it reached 84 percent. This was due largely to the boom in single-family housing construction in the developing suburbs of the large metropolitan areas in the late 1940's and the 1950's. In some years during this period, expenditures on private nonfarm 1-4 unit houses accounted for 90 percent of total residential investment. The stock of private nonfarm 1-4 unit houses grew at a compound annual rate of 3.7 percent during the 1950's. The rate slackened in the 1960's to 2.1 percent and the share of private nonfarm 1-4 unit houses in the total housing stock 20 SURVEY OF CURRENT BUSINESS declined to 81 percent by 1970, as new residential investment shifted toward apartments and mobile homes. Constant Dollar Gross Stocks of Residential Structures, by Type of Structure Billions of 1958 $ (Ratio scale) 1,000 800 - Total, All Types 600 - 400 - Private Nonfarm, 1-4 Unit 200 Private Nonfarm, 5 or More Unit 60 40 / Farm 20 Private Nonhousekeeping State and Local* The constant-dollar gross stock of private apartments (structures with 5 or more units) grew rapidly during the late 1920's. From 1925 to 1930, its share in the total housing stock increased from 6.5 percent to 8.2 percent. The private apartment stock remained fairly constant during the depression and World War II. It increased moderately following the war, but its growth did not keep pace with the growth of 1-4 unit structures and it accounted for only 6.4 percent of the total stock by 1960. The trend changed in the 1960's, as apartments became an increasingly important part of new residential investment, and private apartments accounted for 8.6 percent of the total housing stock by 1970. The stock of publicly owned housing was negligible prior to World War II. However, federally owned housing— consisting almost entirety of military housing—accounted for about 15 percent of all residential construction during the war years and for about 1 percent of the housing stock in 1945. The federally owned stock increased only about 50 percent from 1945 to 1970 and its share in the total housing stock declined slightly. The stock of housing owned by State and local governments—consisting primarily of housing for low-income families—was built largely during the 1950's and 1960's. It accounted for less than 1 percent of the housing stock in 1950 and currently accounts for about 1.5 percent. November 1971 Farm housing has declined in importance over the past 45 years as the farm population has dwindled and as rural areas have become urbanized. The gross stock of farm housing has decreased about 10 percent since 1925, reflecting low rates of farm housing construction, transfers of farm housing to nonfarm use, and abandonments. Farm housing accounted for about 11 percent of the total housing stock in 1925 but only 4 percent in 1970. The stock of private nonhousekeeping residential structures—primarily hotels, motels, and dormitories—was practically constant from 1930 to 1960 and its share of the total stock dropped from about 3 percent to about 2 percent. The stock then increased 65 percent from 1960 to 1970, largely due to a boom in construction of hotels and motels. Mobile homes were sold in modest quantities during the 1940's and 1950's and accounted for 0.5 percent of the 1960 housing stock. Due to increased construction costs and mortgage rates for conventionally built housing, mobile homes became an increasingly important part of new additions to the housing stock in the 1960's. From 1960 to 1970, the stock of mobile homes quadrupled and its share in the total stock rose to 1.7 percent. Net stocks The growth and composition of the net stock of housing measured in constant dollars is essentially the same as Table A.—Composition of Constant Dollar Gross Stocks of Residential Capital, Selected Years [Percent] Type of structure i V—-• Federal* Total, all types End of year '\ : Mobile I 1-4 unit Homes* iii 30 35 40 45 50 55 *Values under $1 billion are not plotted but can be found in table 1. 60 65 70 Federal 100.0 100.0 80.4 79.4 6.5 8.2 1935 1940.. . 100.0 100.0 79.6 80.0 8.2 8.3 100.0 100.0 79.6 81.5 8.0 7.6 .9 .6 1955 1960 100.0 100.0 83.3 84.2 6.7 6.4 1965 1970 100.0 100.0 83.0 81.3 7.5 8.6 1945 1950 - - . U.S. Department of Commerce, Office of Business Economics 5 or more unit Public - 1925.1930 1925 Private nonfarm *Less than 0.05 percent. Farm State and local Private nonhousekeeping Mobile homes 0 0 10.7 9.5 2.4 2.9 0 0 0 9.2 8.8 3.0 2.9 0 0 .4 .8 8.4 7.3 2.7 2.2 .0 .0 .6 .7 1.1 1.2 6.2 5.3 1.8 1.7 .3 .5 .7 .7 1.4 1.6 4.5 3.9 2.0 2.2 .9 1.7 0 0 (*) (*) (*) November 1971 SUEVEY OF CUKKENT BUSINESS that of the constant-dollar gross stocks, just reviewed. The behavior of the current-dollar measure of net stocks, which reflects price changes, shows the impact of inflation on the replacement value of the Nation's stock of housing. The current-dollar value of the total stock of residential structures increased from $80 billion in 1925 to $800 billion in 1970, as shown in table 2. About five-sixths of this increase was due to price increases, while about one-sixth represented growth of the real net stock. Several fairly distinct periods of price change can be identified. In the late 1920's, prices changed little and the increase in the current-dollar net stock was due almost entirely to an increase in the real stock. On the other hand, virtually all of the 25 percent drop in the current-dollar stock from 1929 to 1934 was due to a decrease in the price level, and price increases accounted for virtually all of the doubling in value of the stock between 1934 and 1945. About three-fourths of the increase in the current-dollar net stock since 1945 has been due to inflation. Price increases were particularly significant in the growth of the stock in the immediate postwar period and in the 1960's, but during the 1950's the growth of the real net stock accounted for 60 percent of the increase in the current-dollar stock. Age of capital stocks The data on the age structure of the gross stock show the effect of the curtailment of residential investment in the depression and World War II years and of the boom in the postwar years. As shown in table 1, the average age of the gross stock of residential structures increased from 27 years in 1925 to 34 years in 1945. The average age has since declined until in recent years it has approached the level of the late 1920's. The ratios of net to gross stocks shown in table 3 follow a similar pattern, declining from 0.62 in 1925 to 0.54 in 1945 and then increasing to 0.63 during the 1960's. The age distributions in table 3 show that more than half of the 1970 housing stock had been built in the previous 20 years. The average age of the gross stock of private apartment structures (5 or more units) increased from 15 years in the late 1920's to 26 years by the end of World War II. This trend continued until 1958, when the average age was almost 30 years. As a result of the boom in apartment construction in the 1960's, the average age had declined to 20 years by 1970. In 1970, over half of the gross stock of private apartments had been built in the past 10 years. Farm housing, the oldest component of the stock, has steadily increased in age from an average of 36 }^ears in 1925 to 49 years in 1970. More than half of the gross stock in 1970 was over 50 years of age. Alternative Residential Capital Consumption Estimates Table 4 compares the estimates of private residential capital consumption (depreciation) now used in the national income and product accounts with those computed in this study.12 The estimates calculated in this study have two considerable advantages over those used in the national accounts: The new estimates are available in current and constant prices; and they are based on more realistic service lives and rates of depreciation. The depreciation series for nonfarm housing used in the national accounts is valued in terms of historical costs and thus reflects a mixture of the prices of all the years in which the investments being depreciated were made.13 The depreciation rate used is 2 percent per year of the estimated gross stock. The estimated gross nonfarm residential stock used for this purpose is derived by starting with a Census- based historical-cost estimate of the 1940 stock, adding the NIA estimates of annual residential investment, and deducting estimates of demolitions, abandonments, and transfers to nonresidential use, all in historical costs. 12. For a similar comparison of alternative measures of corporate depreciation, see Allan H. Young, "Alternative Measures of Corporate Depreciation and Profits," SURVEY OF CURRENT BUSINESS, April and May 1968. 13. The depreciation series for farm housing used in the national accounts is based on a perpetual inventory calculation done by the Department of Agriculture and is valued in current prices. The series probably overstates farm residential depreciation because of an inadequate allowance for transfers to nonfarm use. 21 The depreciation rate of 2 percent, which is equivalent to straight line depreciation over a 50-year service life, is generally considered to be excessive as a measure of actual depreciation. The rate used in this study of 2 percent H per year of the net stock, together with the longer service lives, result in considerably less depreciation than the 2 percent rate applied to the gross stock. With the rate used in this study, an asset depreciates 39 percent in 25 years, 63 percent in 50 years, and 86 percent in 100 years, compared with 50 percent in 25 years and 100 percent in 50 years with the rate used to calculate the NIA estimates. As shown in table 4, the effect of the lower depreciation rate is outweighed in most years by the revaluation of the depreciation series to current prices. For example, the current cost estimate of 1969 residential depreciation is $4.8 billion or about 40 percent more than the estimate now used in the national income accounts. Comparisons of Alternative Estimates of the Housing Stock How the benchmark estimates were derived Alternative ' 'benchmark'' estimates of the nonfarm housekeeping portion of the housing stock were derived for 1950, 1956, and 1960 using data from the 1950 and 1960 Censuses of Housing and the 1956 National Housing Inventory, with extrapolations through 1969 using data from periodic household surveys.15 The benchmark estimates are of the market value of net stocks of private nonfarm housekeeping resisidential structures. The basic data used for the benchmark estimates provide measures of the market value of net stocks of residential real estate (structures and land combined) in currentcost valuation by tenure (owner-oc14. A rate of 2.0 percent is used for 1-4 unit structures and higher rates are used for the other components of the housing stock. Since these other components represent a fairly small portion of the total housing stock, the implied overall rate is close to 2 percent. 15. The Census data were taken from: U.S. Bureau of the Census, i960 Census of Housing (several volumes); 1960 Census of Housing (several volumes); 1956 National Housing Inventory (several volumes). The survey data were taken from: U.S. Bureau of the Census, Housing Vacancies, Current Housing Reports, Series H-lll (quarterly); George Katona, et. al, Survey of Consumer Finances, Survey Research Center, University of Michigan (annual). 22 SURVEY OF CURRENT BUSINESS Table B.—Benchmark Estimates of Value of Nonfarm Housekeeping Residential Real Estate (Excluding Mobile Homes), by Tenure, Selected Years [Billions of dollars] were used to derive the 1950, 1956, and 1960 benchmark estimates. The owneroccupied component was based on reports of market values by homeowners The renter-occupied component was Owner- RenYear Total occuterVacant based on rents reported by tenants and pied occupied rent-to-value ratios reported by land18 lords. The estimates for vacant housStructures and land ing available for sale and for rent were 1950 (Apr 1). . 157.4 226. 5 65.3 3.8 based on expected selling prices and 1956 (Dec 31) 317.4 11.2 437.1 108.5 1960 (Apr 1) 390.0 17.2 544.8 137.6 expected rents of these units as reported 1968 (Dec 31) ~ " 871.7 648.1 18.7 204.9 1969 (Dec 31) 948.2 711.5 216.5 20.2 by owners. The estimates for the years since Structures 1960 were obtained by extrapolating 1950 (Apr 1) 3.0 177.8 122.9 51.9 the data on number of housing units 334.0 1956 (Dec 31) . 242.1 83.3 8.6 1960 (Apr i)...::::./::: 411.8 292.6 106.2 13.0 and average values reported in the 1968 (Dec 31) . 639.6 471.1 154.7 13.8 1969 (Dec 31) . 698.4 520.3 163.2 14.9 1960 Census. Annual estimates of the number of housing units and their Land distribution by tenure and values of 1950 (Apr 1). . .. . 34.5 48.7 13.4 .8 vacant units were derived from data 1956 (Dec 31) 103.1 25.2 75.3 2.6 1960 (Apr 1). 133. 0 97.4 31.4 4.2 collected in the Census Bureau's Cur1968 (Dec 3i):/~__:_:~~ 232.1 177.0 50.2 4.9 191.2 1969 (Dec 31) 249.8 53.3 5.3 rent Population Survey. Annual estimates of values of occupied units were cupied, renter-occupied, vacant). The derived from data collected in the estimates were allocated between struc- Census Bureau's Quarterly Household tures and land on the basis of a study Survey and the University of Michiby Manvel 16 based on data from the gan's Survey of Consumer Finances. The structures-land allocation was 1957 and 1967 Censuses of Governbased on Manvel's estimates of the ments. The segments of the housing ratio of the average value of residential stock not covered by the benchmark land to the average value of residential estimates—farm housing, non-houseland plus structures for 1956 and 1966. keeping structures, and mobile homes— His estimates were based on value accounted in 1970 for about 8 percent figures obtained from the 1957 and of the total housing stock as estimated 1967 Censuses of Governments by by the perpetual inventory method. adjusting values assessed on structures The benchmark estimates for 1950, and land for tax purposes by local 1956, and 1960, based on the Census governments to market values on the data, and the extrapolations from the basis of samples of sales that occurred 1960 figure to 1968 and 1969, are given during the last 6 months of 1956 and in table B. When data from the 1970 the last 6 months of 1966. ManvePs Census become available (probably in ratios were interpolated and extrap1972), a 1970 figure can be derived and olated by the movement of the annual the extrapolation procedure can be ratios of the value of land to the evaluated.17 value of land plus structures for The 1950 and 1960 Censuses and the existing houses sold with FHA-insured 1956 National Housing Inventory pro- mortgages. vided counts of owner-occupied, renterManvePs study also provided indeoccupied, and vacant housing units and pendent evidence to evaluate the benchvarious data on housing values which mark estimates. He developed estimates of the value of "urban" residen16. Allen D. Manvel, "Trends in the Value of Real Estate tial one-family property (structures and Land, 1956 and 1966," Three Land Research Studies, Research Report No. 12, U.S. National Commission on Urban Problems, 1968. 17. The methodology used in deriving the benchmark estimates benefits from work by Goldsmith and Lipsey and by Bhatia. See Goldsmith and Lipsey, op. cit.. and Kul B. Bhatia, Individuals' Capital Gains in the United States, An Empirical Study, 1947-64, unpublished Ph. D dissertation, University of Chicago, 1969. 18. The publicly owned portion of renter-occupied housing required a special treatment. Since public housing rents are subsidized, these rents needed to be adjusted upward before rent-to-value ratios for private rental housing could be applied to them. Available evidence suggested that the rental paid on a public unit was equal to about 40 percent of its true rental value, and the adjustment was based on this figure. November 1971 and land) for the last 6 months of 1956 and the last 6 months of 1966 based on the surveys mentioned above. In the next section of this article, these estimates are compared to the estimates based on the 1956 National Housing Inventory benchmark and the 1966 extrapolation from the 1960 Census of Housing benchmark. Comparison of the perpetual inventory and benchmark estimates The benchmark procedure provided estimates of net stocks of nonfarm housekeeping structures which are essentially independent of the perpetual inventory estimates. They thus provide a check on the depreciation rates, service lives, and retirement pattern used in the perpetual inventory calculations. Benchmark-type estimates prepared by other investigators for 1930 and 1940 were used to extend the period of comparison. The perpetual inventory and benchmark estimates are compared in table C. (In the Census years, the end-of-year perpetual inventory estimates were adjusted to the April 1 timing of the Censuses for comparison purposes.) The benchmark estimates of net stocks are in terms of market values, while the perpetual inventory estimates of current-cost net stocks are based on replacement prices. While market values and replacement prices of residential structures are not conceptually identical, it is reasonable to assume that the forces of the market place will keep Table C.—Comparison of Perpetual Inventory and Benchmark Estimates of Net Stocks of Nonfarm Housekeeping Residential Structures (Excluding Mobile Homes), Current Cost Valuation, Selected Years [Billions of dollars] Year Perpetual inventory Benchmark Benchmarked perpetual inventory 1930 (Apr. 1) 1940 (Apr. 1). 1950 (Apr. 1). _ 81.4 80.0 206.4 183.0 270.0 177.8 83.0 79.0 212.6 1956 1960 1968 1969 337.1 480.9 641.3 703.9 334.0 411.8 639.6 698.4 345.6 405.2 646.8 705.2 (Dec. (Apr. (Dec. (Dec. 31) 1). 31) . 31) 1. Source: Grebler, Blank, and Winnick, Capital Formation in Residential Real Estate, National Bureau of Economic Research, 1956, based on an earlier estimate in David L. Wickens, Residential Real Estate, National Bureau of Economic Research. 1941. 2. Source: U.S. Bureau of the Census, Housing—Special Reports, Series H-1943, No. 1, September 11, 1943, with structures-land allocation by QBE. November 1971 them fairly close most of the time. Thus, the comparisons in table C assume that the market-value concept of the benchmark estimates approximates the current-cost concept of the perpetual inventory estimates. The perpetual inventory estimates match quite well with the benchmark estimates for 1930, 1956, and 1960, and with the extrapolations of the 1960 benchmark through 1969. Also, Manvel's estimates for one-family structures in 1956 and 1966 are reasonably close to the benchmark estimates when the benchmark estimates are adjusted to bring them as close as possible to ManvePs in timing and coverage.19 In general, the results of these comparisons support the assumptions as to service lives, depreciation rates, and retirements used in the perpetual inventory calculations. However, benchmark estimates based on the 1940 and 1950 Censuses of Housing do not closely match the perpetual inventory estimates. The 1940 benchmark figure is $10 billion (12 percent) lower than the perpetual inventory estimate, and the 1950 benchmark is about $30 billion (14 percent) lower. The 1940 and 1950 benchmark figures are probably too low because the Housing Census benchmarks depend heavily on the ability of the homeowner to estimate the value of his house. It seems likely that homeowners understated the true values of their houses in 1940 and 1950 (particularly 1950) because inflation had driven housing values up more than owners realized—especially homeowners who had not bought or sold their houses recently. Additional evidence supports the belief that the 1950 benchmark figure is too low. First, an attempt was made bo match the 1960 benchmark with a perpetual inventory calculation benchmarked on 1950. Starting with the 1950 benchmark, the NIA investment data were added and the implied declining balance depreciation rate necessary to ittain the 1960 benchmark was calcuated. This rate turned out to be less :han 1 percent, which does not seem 19. The Census of Governments tabulated about 30 million 'urban" single-family units in 1956 and 40 million in 1966, •XHnpared with about 32 million and 43 million nonfarm ingle-family units based on the Census of Housing lefinitions. In the adjustment mentioned in the text, the idditional units under the Census of Housing definitions ivere valued as rural nonfarm and deducted from the estinates benchmarked on the Censuses of Housing. SUKVEY OF CURRENT BUSINESS realistic. If this same rate were continued through the 1960's, the resulting net stock estimate in 1969 appears much too high. Also, a "benchmarked perpetual inventory " series was constructed by starting with the 1930 benchmark, adding the NIA annual investment data, and subtracting annual estimates of depreciation and losses from the housing inventory. This series is shown in table C. The depreciation rates were those used in the perpetual inventory calculations, and the loss rates were based on decade estimates of losses by Grebler, Blank, and Winnick for the 1930's and 1940's and the 1960 Housing Census and extrapolations therefrom for the 1950's and 1960's. The resulting series matched quite well with all the perpetual inventory estimates and with all the benchmark estimates except 1940 and 1950. Appendix Brief explanation of terms The following is a brief explanation of terms arising in the perpetual inventory stock estimates in this study. Gross investment is the value of the purchases of new fixed residential capital assets (public and private, including mobile homes) in. the United States. The investment flows used in estimating stocks in this study include commissions of brokers on transactions in new structures but not on used structures but data are provided to enable users to derive stock estimates including the latter. For a given sector of the economy, it covers also net purchases of used assets from other sectors (for instance, gross investment by the private nonfarm sector includes purchases, net of sales, of used assets from the private farm sector). Discards are the value of gross investment that is retired. Gross stocks are the value of the stocks of residential structures before deduction of losses in value through physical deterioration, obsolescence, and accidents. Gross stocks equal cumulative gross investment less cumulative discards. Depreciation is the value lost through physical deterioration, obsolescence, and accident. This is synonymous with 23 the term capital consumption as defined in the national economic accounts, because it includes accidental damage to fixed capital in addition to depreciation proper. Net stocks are the value of gross stocks less cumulated depreciation on assets in the gross stocks. Age distribution of stock in a given year shows the percentage of that year's stock that consists of investment made in that year, in the previous year, etc. Service life of a capital asset is the period from its purchase to its discard. Straight line annual depreciation for a capital asset is equal to its gross value divided by its service life. Declining balance annual depreciation rate is a fixed percentage, always applied to the depreciated value of the asset. Historical cost measures values in the prices of the period in which the investment was made. Constant cost measures values in constant prices (in this report, 1958 prices). Current cost measures values in the prices of the given year. Data sources Tne annual investment flows used in implementing the perpetual inventory method were those which enter the estimates of the GNP for the years since 1929 and are taken from the following sources: 1929-63: The National Income and Product Accounts of the United States, 1929-65, Statistical Tables (A Supplement to the SURVEY OF CURRENT BUSINESS), August 1966; 1964-65: SURVEY OF CURRENT BUSINESS, July 1968; 1966: SURVEY OF CURRENT BUSINESS, July 1969; 196770: SURVEY OF CURRENT BUSINESS, July 1971. The definitions and methodology underlying these data are described in National Income, 1954 Edition (A Supplement to the SURVEY OF CURRENT BUSINESS), 1954; U.S. Income and Output (A Supplement to the SURVEY OF CURRENT BUSINESS), November 1958; "The National Income and Product Accounts of the United States: Revised Estimates, 1929-64," SURVEY OF CURRENT BUSINESS, August 1965. The latter three publications are out of print, but their methodological sections are reproduced in Readings in SUBVEY OF CURRENT BUSINESS 24 November 1971 Table 1.—Perpetual Inventory Estimates of Constant Dollar Gross and Net Stocks of Residential Structures and Mean Age of Stocks by Type of Structure, 1925-70 End of year Total, all types Private nonfarm Public Farm 1-4 unit 5 or more unit Federal State and local Memoranda: Commissions on used structures l Net stocks, by type of structure Gross stocks, by type of structure Private Total, all non- Mobile 11 ouse- homes types keeping Private nonfarm Public Farm 1-4 unit 5 or more local Federal State and local Private non- Mobile house- homes keeping Gross stocks Net stocks Gross and net stocks (billions of 1958 dollars) 1925 1926 1927.. 1928 1929 1930 1931 1932 1933.. 1934 1935 1936 1937 1938 1939 1940 . 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 . 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 . 346.3 360.1 373.0 384.8 392. 9 397.4 400.6 400.8 400.7 400.5 278.2 288.2 297.3 305.8 311.5 315.1 317. 9 318.3 318.3 318.3 22.5 25.1 27.9 30.4 32.0 32.5 32.9 32.9 32.9 32.9 0 0 0 0 0 0 0 0 0 (*) 0 0 0 0 0 0 0 0 0 0 37.2 37.3 37.5 37.7 37.9 37.9 37.8 37.6 37.5 37.3 8.4 9.5 10.3 10.9 11.5 11.9 12.0 12.0 12.0 12.0 0 0 0 0 0 0 0 0 0 0 215.5 226.1 235.1 242.9 247. 0 246.8 245.6 242.1 237. 9 234.3 174.8 182.6 188.7 194.2 197..0 196. 9 196.3 193.9 190. 9 188.3 15.9 18.1 20.5 22.5 23.6 23.6 23.5 23.0 22.5 22.0 0 0 0 0 0 0 0 0 0 (*) 319.5 322.0 324.9 327.9 332.4 337.3 343.3 344.7 345.0 345.3 32.9 33.2 33.6 33.9 34.4 34.7 35.0 35.1 35.1 35.0 (*) 0 0 0 ( } * 9 . . 401.6 404.6 408 2 411.6 417.0 422. 9 429 9 432.3 433.9 434.2 \1 1.2 1.7 1.8 1.8 37.2 37.1 37.1 37.1 37.2 37.4 37.1 36.7 36.6 36.5 12.0 12.1 12.1 12.1 12.2 12.2 12.2 12.1 11.9 11.7 0 0 0 0 0 0 0 0 0 0 232 2 23l! 8 232.2 232.3 234.5 237.8 241.8 241.2 239.0 235.1 187.0 187.0 187.3 187.8 189. 9 192.7 195. 9 194.8 191. 9 188.7 21.6 21.4 21.4 21.2 21.3 21.3 21.2 20.8 20.5 20.0 (*) 2 .5 .6 .6 .6 1.1 1.9 3.3 3.6 434.5 439.4 451.6 466.2 480.2 500.1 515.3 530.0 546.1 564.8 346.0 350.1 361.6 375.3 388.1 406.8 421. 3 435.0 450.1 468.2 34.9 35.0 35.3 35.9 36.8 37.6 38.0 38.2 38.6 38.9 4.0 3.7 3.4 3.4 3.4 3.4 3.4 3.4 3.4 3.4 1.8 2.7 3.3 3.5 3.7 4.0 4.5 5.2 5.8 6.2 36. -3 36.3 36.3 36.4 36.5 36.6 36.5 36.5 36.4 36.3 11.4 11.4 11.3 11.1 11.0 10.9 10.7 10.6 10.5 10.4 .1 .2 .4 .6 .7 .8 .9 1.1 1.3 1.4 231.7 237. 9 247.4 256.9 268.5 285.6 298.2 309.0 320.8 333.8 186.0 192.4 201.8 211.1 221.5 237.4 249.1 259.5 270 8 283.5 19.5 19.3 19.3 19.5 20.1 20.6 20.6 20.6 20.6 20.7 583.9 601.2 618.0 634.7 663.8 679.5 690.5 709.5 729.7 749.5 486.5 502.9 518.2 532.8 559.0 572.0 579.6 594.2 609.1 623.5 39.3 39.6 40.2 41.0 42.3 43.6 45.5 48.4 51.6 54.9 3.4 3.4 3.6 3.9 4.4 4.7 5.0 5.2 5.3 5.4 6.5 6.8 7.1 7.6 8.0 8.4 8.9 9.6 9.9 10.3 36.2 36.1 36.0 36.0 35.9 35.8 35.7 35.5 35.3 35.1 10.4 10.4 10.5 10.7 11.0 11.4 11.9 12.6 13.5 14.4 1.6 2.0 2.4 2.7 3.2 3.6 3.9 4.0 5.0 5.9 350.8 363.9 375.1 388.0 408.1 419. 6 427.5 441.5 455.7 469.2 300.3 312.9 323.2 334.5 352.3 362.0 367.0 376.8 387.0 396.1 769.6 786.4 802 2 823.2 843.3 870.3 638.5 650.7 662.0 676.5 688.7 707.2 57.8 60.3 62.5 66.1 70.1 74.8 5.5 5.6 5.6 5.6 5.7 5.8 10.7 11.1 11.7 12.3 13.0 13.7 34.9 34.7 34.5 34.3 34.2 34.0 15.3 16.1 16.8 17.5 18.2 18.8 6.9 7.9 9.1 10 9 13.4 16.0 482.2 492.3 502.2 514.5 526. 9 544.6 405.1 412.1 419.0 426.6 433.3 445.5 . . .. . . - - .. - . . . - - . 1965 1966 1967 1968 1969 1970 . . . .. . 2 '.5 .6 .6 .6 1.1 2.0 3.5 3.9 0 0 0 0 0 0 0 0 0 0 19.9 19.8 19.8 19.8 19.7 19.6 19.3 19.0 18.6 18.3 4.9 5.6 6.1 6.4 6.7 6.7 6.5 6.2 5.9 5.7 0 0 0 0 0 0 0 0 0 0 9.4 9.6 9.8 10.1 10.3 10.6 10.7 10.8 10.9 11.0 5.t 6.C 6.1 6.1: 6.f 6.( 6.( 6.f 6.f 6.f 0 0 0 (*) .2 .7 1.2 1.6 1.6 1.6 18.1 17.9 17.8 17.7 17.6 17.7 17.7 17.6 17.5 17.2 5.5 5.3 5.2 5.0 4.9 4.8 4.7 4.5 4.2 4.0 0 0 0 0 0 0 0 0 0 0 11.1 11.1 11.2 11.3 11.4 11.4 11.6 11.7 11.8 12.0 Q.t 6.f 6./ 6.,' 6.,' 6J Q.i 6.( 6.( 6.( 3.7 3.3 2.9 2.8 2.8 2.7 2.6 2.6 2.5 2.5 1.6 2.4 3.0 3.1 3.2 3.6 4.2 4.7 5.2 5.4 17.0 16.6 16.5 16.5 17.0 17.5 17.9 17.8 17.8 17.7 3.8 3.7 3. 6 3.5 3.5 3.4 3.4 3.3 3.3 3.4 .1 2 '.3 .4 .4 .4 .4 .5 .6 .6 12.2 12.4 12.6 12.8 13.0 13.3 13.6 14.0 14.4 14.7 6.1 6.i 7.( 20.7 20.7 21.0 21.6 22.5 23.5 25.2 27.7 30.5 33.3 2.4 2.4 2.5 2.8 3.2 3.3 3.5 3.6 3.7 3.7 5.6 5.7 5.9 6.2 6.5 6.8 7.2 7.7 7.7 7.9 17.6 17.5 17.4 17.3 17.2 17.1 17.0 17.0 17.0 17.0 3.4 3.6 3.8 4.1 4.6 5.0 5.6 6.4 7.1 7.9 .8 1.1 1.3 1.5 1.8 1.9 2.0 2.3 2.7 3.3 15.2 15.7 16.2 16.7 17.1 17.6 18.3 18.8 19.4 20.0 35.7 37.6 39.2 42.2 45.5 48.6 3.7 3.7 3.6 3.6 3.6 3.6 8.2 8.4 8.8 9.0 9.4 10.0 17.0 16.9 16.9 16.8 16.7 16.6 8.6 9.2 9.6 10.0 10.4 10.7 3.9 4.4 5.1 6. 3 8.0 9.6 20.6 21.2 21.7 22 3 23.1 23.9 Mean age of gross and net stocks (years) 27.0 26.8 26.6 26 6 26.8 27.3 27.8 28.5 29.2 29.9 26.4 26.3 26.2 26 2 26.5 27.0 27.5 28.2 28.9 29.6 16.7 15.8 15.0 14.7 14.8 15.4 16.1 17.0 17.9 18.7 0 0 0 0 0 0 0 0 0 .5 0 0 0 0 0 0 0 0 0 0 35.9 36.3 36.6 37.0 37.4 37.8 38.4 39.0 39.7 40.3 10.8 10.4 10.3 10.4 10.7 11.0 11.7 12.4 13.0 13.7 0 0 0 0 0 0 0 0 0 0 20.2 19.9 19.6 19.5 19.6 20.1 20.6 21.4 22.1 22.8 20.1 19.8 19.6 19.5 19.7 20.2 20.7 21.4 22.1 22.8 12.3 11.4 10.7 10.4 10.6 11.3 12.0 12.9 13.8 14.7 0 0 0 0 0 0 0 0 0 .5 0 0 0 0 0 0 0 0 0 0 27.0 27.4 27.6 27.9 28.2 28.7 29.3 30.0 30.7 31.4 6.7 6.3 6.3 6.5 6.8 7.2 7.9 8.7 9.4 10.1 0 0 0 0 0 0 0 0 0 0 30.4 30.9 31.3 31.6 31.9 32.0 32.1 32.5 33.0 33.6 30.2 30.6 31.0 31.4 31.6 31.7 31.8 32.2 32.9 33.5 19.5 20.2 20.8 21.4 21.9 22.4 23.0 23.7 24.5 25.3 .6 .7 1.0 1.8 2.8 3.7 2.8 2.4 2.1 2.9 0 0 0 .5 .6 .8 1.2 1.8 2.7 3.6 40.8 41.2 41.6 42.0 42.4 43.0 43.5 44.1 44.8 45.6 14.3 14.9 15.4 15.8 16.3 16.7 17.2 17.7 18.4 19.1 0 0 0 0 0 0 0 0 0 0 23.4 23.7 24.0 24.3 24.4 24.4 24.3 24.6 25.1 25.7 23.3 23.7 24.0 24.3 24.3 24.3 24.1 24.5 25.2 25.8 15.5 16.2 16.8 17.4 17.8 18.3 18.8 19.5 20.3 21.1 .6 .7 1.0 1.8 2.7 3.7 2.6 2.3 2.0 2.8 0 0 0 .5 .6 .8 1.2 1.8 2.6 3.6 31.8 32.3 32.6 33.0 33.2 33.8 34.2 34.9 35.8 36.7 10.7 11.2 11.6 12.0 12.3 12.6 12.9 13.4 14.2 14.9 0 0 0 0 0 0 0 0 0 0 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 34.2 34.1 33.7 33.2 32.8 32.1 31.6 31.3 30.9 30.5 34.1 33.9 33.5 32.9 32.4 31.5 31.0 30.6 30.1 29.6 26.1 26.6 26.9 27.0 27.0 27.0 27.4 27.8 28.2 28.6 3.8 5.1 6.5 7.7 8.6 9.6 10.6 11.6 12.5 13.6 4.6 4.3 4.7 5.6 6.0 6.4 6.3 6.3 6.6 7.1 46.4 46.5 46.5 46.3 46.2 46.2 46.2 46.3 46.4 46.6 19.7 20.0 20.4 20.8 21.1 21.3 21.6 21.8 21.9 21.8 .5 .8 1.2 1.6 2.3 2.8 3.3 3.6 3.8 4.0 26.4 25.9 25.2 24.4 23.7 22.7 22.0 21.6 21.1 20.7 26.4 25.9 25.0 24.1 23.3 22.1 21.5 20.9 20.5 19.9 21.9 22.3 22.4 22.2 21.8 21.5 21.8 22.1 22.4 22.6 3. 6 5.0 6.5 7.7 8.6 9.6 10.6 11.6 12.5 13.5 4.6 4.2 4.5 5.4 5.7 6.0 5.8 5.8 6.0 6.5 37.7 37.4 36.9 36.2 35.6 35.2 34.9 34.7 34.6 34.5 15.5 15.3 15.5 15.4 15.2 15.1 14.9 14.7 14.2 13.6 ill 1.4 1.9 2.3 2 5 2.4 2.5 2.5 1955 1956 1957 1958 30.0 29.6 29.4 29.2 29.0 28.6 28.4 28.2 29.0 29.3 29.5 29.5 14.5 15.5 15.8 15.3 7.8 8.4 8.9 9.3 46.8 47.0 47.3 47.5 21.6 21.2 20.7 19.9 3.8 3.5 3.4 3.4 20.1 19.8 19.6 19.4 19.3 18.9 18.8 18.6 22.8 23.1 23.0 22.7 14.5 15.4 15.4 14.4 7.2 7.7 8.2 8.5 34.7 34.7 34.9 35.0 12 9 11.9 11.1 10.1 2 2 2.0 2.0 2.2 1925 1926 1927 1928 1929 1930 . 1931 1932 . 1933 1934 .. .. 1935 1936 . 1937 1938 1939 .. 1940 1941 1942 1943 1944 - .. .5 7.: 7. ' 8.( 8.; 8.; 9.( 9.' 9.' 10. ( 10.; 10.1 10.! 11.: 11.' 12. 12..- 13.1 13.' 13.! 14.: 14. 1 15.: SURVEY OF CURRENT BUSINESS November 1971 25 Table 1.—Perpetual Inventory Estimates of Constant Dollar Gross and Net Stocks of Residential Structures and Mean Age of Stocks, by Type of Structure, 1925-70—Continued Gross stocks, by type of structure End of year Total, all types Private nonfarm 1-4 unit 5 or more unit Public Farm Federal State and local Memoi*anda: Commis sions on used strt _ ictures i Net stocks, by type of structure Private Total, non- Mobile all house- homes types keeping Private nonfarm 1-4 unit Public Farm 5 or more local Federal State and local Private non- Mobile Gross house- homes stocks keeping Net stocks Mean age of gross and net stocks (years) — Continued 1959 1960 1961 1962 1963 1964 - 1965 1966 1967 1968 1969 1970 ... . . 28.9 28.7 28.5 28.3 28.1 27.9 27.8 27.7 27.6 27.5 27.4 27.3 29.2 28.8 27.9 26.8 25.3 24.0 14.6 14.7 14.9 15.3 15.9 16.6 9.7 10.2 10.5 10.7 11.2 11.7 47.8 48.0 48.2 48.3 48.5 48.7 19.0 18.0 16.9 15.9 14.6 13.6 3.4 3.6 3.9 4.1 4.1 4.1 19.1 19.0 18.9 18.7 18.6 18.5 18.3 18.3 18.3 18.2 18.2 18.2 22.0 21.2 20.0 18.5 16.7 15.4 13.2 13.0 13.0 13.3 13.8 14.5 8.8 9.2 9.4 9.5 10.0 10.4 35.2 35.4 35.4 35.4 35.4 35.5 9.2 8.4 7.7 7.1 6.6 6.3 2.3 2.5 2.7 2.8 2.8 2.8 27.7 27.7 27.7 27.6 27.6 27.6 27.2 27.3 27.4 27.4 27.5 27.7 23.1 22.4 22.0 21.3 20.4 19.7 17.2 18.0 18.9 19.7 20.4 21.1 12.3 12.7 13.0 13.4 13.7 13.9 48.8 49.0 49.0 49.1 49.1 49.0 12.8 12.2 11. 9 11.6 11.5 11.5 4.2 4.3 4.4 4.3 4.2 4.2 18.4 18.5 18.6 18.6 18.6 18.7 18.3 18.4 18.6 18.7 18.9 19.1 14.6 14.0 13.8 13.3 12.6 12.2 14.9 15.6 16.5 17.3 17.8 18.5 10.9 11.2 11.4 11.7 11.8 11.9 35.6 35.6 35.5 35.4 35.3 35.1 6.2 6 2 6.4 6.6 6.8 7.1 .8 y .9 .8 .7 *Less than $0.05 billion. 1. These commissions apply to the "private nonfarm 1-4 unit" and "total, all types" stocks (see text, page 17). Table 2.—Perpetual Inventory Estimates of Current Dollar Gross and Net Stocks of Residential Structures, by Type of Structure, 1925-70 End of year Total, all types Private nonfarm 1-4 unit 5 or more unit Public Farm Federal State, and local Memoranda: Commissions on used structures i Net stocks, by type of structure Gross stocks, by type of structure Private non- Mobile house- homes keeping Total, all types Public Private nonfarm 1-4 unit Farm 5 or more unit Federal State and local Private Mobile Gross non11 ouse- homes stocks keep- Net stocks Gross and net stocks (billions of dollars) .925. . .926 927 928 929 . . 930 931 932 . . 933 934 .. 935 936 937 938 939 940 941. . 942. . 943 944. 945. 946 -J47 948 949 950 951 952 953 354 955 956 357 . )58 )59 )60_. )61 )62 )63 )64__ )65 )66 . 167 168 >69_. 170 ... . 0 0 0 0 0 0 0 0 0 0 14.8 14.6 14.4 14.4 14.0 13.2 11.3 9.9 10.2 10.5 3.1 3.5 3.7 4.1 4.3 4.2 3.7 3.3 3.4 3.6 0 0 0 0 0 0 0 0 0 0 79.5 83.2 86.0 90.7 92.8 87.3 75.1 65.9 68.0 70.2 64.0 66.6 68.5 72.1 73.8 69.7 60.1 53.0 54.7 56.4 5.8 6.6 7.5 8.4 8.9 8.4 7.2 6.3 6.4 6.6 0 0 0 0 0 0 0 0 0 (*) 0 0 0 0 0 0 0 0 0 0 7.9 7.9 7.8 7.8 7.6 6.8 5.6 4.9 5.2 5.5 1.8 2.1 2.2 2.4 2.5 2.4 2.2 1.7 1.7 1.7 0 0 0 0 0 0 0 0 0 0 3.1 3.1 3.2 3.3 3.4 3.5 3.5 3.4 3.4 3.4 2.0 2.0 2.1 2.1 2.2 2.2 2.2 2.1 2.1 2.0 (*) .1 2 2 .'2 .2 .5 .9 1.7 2.0 0 0 0 (*) .1 .3 .5 1.7 1.8 1.0 10.6 11.3 12.1 12.3 12.3 12.9 14.2 15.8 16.8 17.2 3.7 4.0 4.2 4.3 4.5 4.7 5.1 5.5 5.8 6.2 0 0 0 0 0 0 0 0 0 0 70.9 76.0 80.9 82.4 85.0 91.7 101.2 108.9 117.3 124.9 57.0 61.4 65.6 67.2 69.4 74.9 82.4 88.0 93.9 99.7 6.6 7.0 7.5 7.6 7.8 8.3 8.9 9.4 10.0 10.6 (*) 0 0 0 (*) '.3 .6 .8 .8 .9 5.6 5.8 5.8 5.6 5.7 6.1 6.9 7.9 8.9 9.7 1.7 1.7 1.8 1.8 1.8 1.9 2.0 2.0 2.1 2.1 0 0 0 0 0 0 0 0 0 0 3.4 3.6 3.8 4.1 4.3 4.6 4.9 5.1 5.4 5.7 2.0 2.1 2.2 2.3 2.4 2.6 2.7 2.9 3.1 3.3 19.9 22.9 26.8 28.5 29.6 32.1 34.0 35.0 35.1 35.7 2.3 2 4 2.' 6 2.7 2.7 2.9 3.0 3.1 3.1 3.1 1.0 1.7 2.4 2.5 3.0 3.4 5.2 5.9 5.4 5.8 18.9 23.3 27.5 28.5 29.4 32.2 33.8 34.0 34.0 34.0 6.5 7.5 8.6 8.8 8.9 9.3 9.6 9.7 9.5 9.5 (*) .'3 105.9 125.3 152.1 167.7 177.8 202.8 223.5 237.9 247.5 261.1 11.1 12.6 14.6 15.5 16.2 17.6 18.5 18.8 18.8 18.9 2.1 2.1 2.2 2.2 2.2 2.3 2.4 2.3 2.3 2.3 .9 1.5 2.2 2.3 2.6 3.1 3.8 4.5 4.8 5.2 10.2 11.9 13.9 14.4 14.5 15.4 16.4 16.7 17.0 17.1 2.1 2.4 2.7 2.8 2.8 2.9 3.0 3.0 3.0 3.1 (*) .5 .6 .7 .8 1.0 1.2 1.3 132.3 155.9 187.9 205.2 216.4 244.5 268.0 283.7 293.9 308.3 2 '.3 .3 .4 .4 .5 .5 .6 6.0 6.8 7.8 8.8 9.8 10.8 11.3 11.8 12.3 12.9 3.5 4.0 4.6 5.2 5.8 6.4 7.0 7.4 7.8 8.2 463.4 496.0 517.7 540.9 579.8 600.8 614.1 641.3 675.1 707.2 37.4 39.0 40.1 41.6 43.9 45.6 48.2 52.2 57.2 62.2 3.2 3.4 3.6 4.0 4.6 4.9 5.3 5.6 5.8 5.9 6.4 6.8 7.2 7.9 8.5 9.0 9.6 10.6 11.2 12.1 35.0 36.4 37.0 37.2 37.6 37.7 37.9 38.0 38.3 38.4 9.8 10.2 10.5 10.8 11.4 11.9 12.6 13.6 14.9 16.3 1.5 1.9 2.3 2.7 3.2 3.6 3.9 4.4 5.0 5.9 335.5 359.4 376.7 395.4 424.9 440.9 453.4 477.6 505.1 533.1 286.5 308.6 324.3 340.6 366.8 380.4 389.2 407.0 428.5 450.1 19.7 20.4 21.0 21.9 23.4 24.6 26.7 29.8 33.7 37.7 2.3 2.3 2.5 2.8 3.3 3.5 3.7 3.9 4.0 4.1 5.4 5.8 6.0 6.5 6.9 7.1 7.7 8.4 8.7 9.3 17.6 17.7 17.8 17.9 18.0 18.1 18.1 19.3 19.6 19.7 3.3 3.6 3.8 4.2 4.7 5.3 6.0 6.9 7.9 8.9 .7 1.0 1.3 1.5 1.8 1.9 2.0 2.3 2.7 3.3 13.4 14.5 15.6 16.7 17.5 18.5 20.0 21.5 22.8 24.0 8.7 9.2 9.8 10.3 10.8 11.3 12.0 12.7 13.6 14.4 888.9 739.8 782.1 941.8 1, 010. 6 836.5 1, 094. 4 903.3 983.4 1, 197. 3 1, 284. 7 1, 050. 2 67.0 72.5 79.0 88.4 100.3 111.1 6.2 6.5 6.9 7.4 8.0 8.5 12.8 13.9 15.3 16.7 18.9 20.5 39.5 39.5 42.6 44.3 47.7 50.5 16.7 19.4 21.2 23.4 25.6 27.9 6.9 7.9 9.1 10.9 13.4 16.0 559.7 593.0 633.3 682.6 749.5 804.2 470.2 497.1 529.5 567.9 620.0 661.6 41.4 45.2 49.6 56.4 65.1 72.2 4.2 4.3 4.5 4.7 5.0 5.3 9.7 10.4 11.3 12.3 13.8 14.9 20.3 20.5 21.2 21.6 23.0 24.7 10.0 11.1 12.1 13.4 14.6 15.9 3.9 4.4 5.1 6.3 8.0 9.6 25.5 27.0 28.8 31.0 32.3 34.0 15.4 16.5 17.7 18.9 20.1 21.4 127.8 131.6 136.3 143.6 147.4 140.5 122.2 109.1 114.2 119.3 101.7 105.3 108.1 113.8 117.1 111.6 97.1 86.9 91.2 95.4 8.2 8.2 10.1 11.3 12.0 11.5 10.1 9.0 9.4 9.8 0 0 0 0 0 0 0 0 0 (*) 121.8 132.2 142.3 146.4 151.4 162 9 179.3 195.1 211.5 226 2 97.5 105.9 114.0 117.5 121.7 131.3 144.3 155.4 168.2 181.3 10.0 10.9 11.8 12.1 12.6 13.5 14.7 15.8 17.2 18.5 243.4 286.7 342.6 369.3 386.2 428.4 465.0 486.8 498.8 517.1 194.8 228.8 274.4 297.8 312.0 347.8 378.6 398.1 410.5 427.7 556.7 593,7 618.4 645.1 689.0 713.5 731.6 765.7 807.5 848.0 *Less than $0.05 billion. 1. These commissions apply to the "private nonfarm 1-4 unit" and "total, all types" ;ocks (see text, page 17). '.2 2 '.2 .2 .4 .8 1.6 1.9 SURVEY OF CURRENT BUSINESS 26 Concepts and Methods of National Income Statistics, a reprint volume published for QBE in 1970 by the National Technical Information Service, U.S. Department of Commerce. The investment flows were extended back into the nineteenth century using related data prepared by Government agencies and private researchers. The most important sources were: U.S. Department of Commerce and U.S. Department of Labor, Construction Volume and Costs, 1915-1956, 1958; David M. Blank, The Volume oj Residential Construction, 1889-1950, National Bureau of Economic Research, 1954; and U.S. Bureau of the Census, Historical Statistics of the United States, Colonial Times to 1957, 1960. These investment flows represent the value of new residential construction put in place, net purchases of used structures, and brokers' commissions on the sale of structures. The sources of the current-dollar data are given below by type of residential structure. Private nonfarm structures, 1-4 units and 5 or more units. The value of construction put in place for new structures is derived by the Bureau of the Census from a monthly survey of housing starts. The value of new units started in a given month is derived from building permit data, and this value is distributed over the following 12 months on the basis of fixed progress Table 3.—Age Distribution of Constant Dollar Gross Stocks of Residential Structures (Perpetual Inventory Estimates) and Ratio of Net to Gross Stocks, by Type of Structure, Selected Years, 1925-70 Age distribution of gross stocks (percent) End of year Net/ gross ratio Age (years) 1-5 6-10 11-20 21-30 31-40 41-50 51-60 61 or more Total, all types 1925 . . 1930. 1935 1940 . . 1945 .. 1950 _ 1955 1960 . 1965 1970 16.1 14.3 3.6 8.1 5.6 6.6 14.1 14.2 3.5 7.9 19.8 14.2 19.6 26.7 16.5 16.1 16.1 17.1 13.2 18.1 17.8 14.2 13.6 14.7 15.4 10.7 13.4 14.4 12.4 11.8 7.2 6.7 8.5 11.4 12.1 5.7 7.0 9.0 10.0 12.6 0.62 .62 .58 .56 .54 17.1 17.6 16.1 15.6 13.1 4.9 14.6 15.4 14.1 14.0 9.7 10.0 16.3 24.6 24.8 22.4 12.1 7.1 7.5 12.7 10.8 13.1 16.3 8.9 5.4 11.6 10.6 7.5 9.4 12.1 9.4 7.8 7.8 7.3 5.3 14.1 14.2 13.5 12.6 12.6 .57 .60 .62 .63 .63 Private nonfarm 1-4 unit 1925. 1930 1935. 1940 1945 16.7 13.8 4.0 8.3 5.3 5.9 14.7 13.6 3.7 8.2 20.2 13.8 19.6 26.5 16.3 16.1 16.5 17.5 12.7 18.0 18.6 14.3 13.5 14.9 15.7 10.8 14.4 15.1 12.3 11.6 7.0 6.1 8.5 12.2 12.6 4.7 6.4 8.2 9.4 12.3 .63 .62 .58 .57 .54 1950 1955 1960. . . _ 1965 1970. . . 18.5 19.4 17.0 14.6 11.6 4.6 15.4 16.6 15.0 13.3 10.0 9.6 16.6 26.4 27.3 21.9 11.4 7.2 7.2 13.2 10.2 12.5 15.4 8.4 5.5 11.5 10.4 6.8 9.0 11.7 9.2 7.4 7.5 7.2 5.0 14.1 13.9 12.9 12.2 12.4 .58 .62 .63 .64 .63 Private nonfarm 5 or more unit 1925 1930 1935 1940 1945 1950 1955 I960. 1965 1970 . . .. 31.8 32.0 2.9 7.2 3.0 7.9 21.9 31.7 2.7 7.1 25.0 14.9 26.9 50.4 32.4 14.9 13.9 16.9 13.8 25.3 11.8 7.5 9.7 12.5 15.3 6.8 7.9 7.2 6.3 8.3 1.5 1.6 3.9 6.0 5.6 .3 .3 .8 1.1 3.0 .71 .73 .66 .61 .56 11.9 7.7 13.9 31.6 29.0 2.8 11.4 6.9 9.8 23.4 8.9 8.9 12.7 12.4 11.0 45.3 27.9 7.6 5.7 6.7 11.9 21.3 37.8 17.2 3.8 10.2 12.1 9.2 12.7 18.3 4.6 5.9 7.2 6.4 3.9 4.4 4.8 4.7 4.2 3.9 .56 .53 .55 .62 .65 Farm 1925. 1930 1935 1940 1945. .. . 4.5 4.9 1.8 3.3 .2 9.2 4.5 5.1 1.8 3.5 14.2 16.4 14.0 9.8 7.3 17.0 14.9 14.4 17.0 15.0 15.5 18.1 17.1 15.4 15.3 12.5 10.0 15.2 18.1 17.7 10.8 14.0 11.7 9.7 15.0 16.3 17.2 20.7 24.9 26.0 .53 .51 .48 .46 .47 1950 1955 1960 1965.. 1970 7.7 5.6 3.8 4.1 4.6 .3 7.8 5.7 4.0 4.1 5.3 3.7 8.4 14.2 10.2 10.1 7.2 5.5 4.6 10.4 17.5 14.7 10.4 7.6 6.1 15.4 14.6 17.5 15.0 10.6 17.4 16.2 14.8 14.3 17.0 26.3 30.2 33.9 36.2 37.0 .48 .49 .48 .49 .49 November 1971 patterns. Expenditures for additions and alterations expenditures are determined by a quarterly Census Bureau household survey. These series for new housing units and additions and alterations were allocated by OBE between 1-4 unit structures and 5 or more unit structures using data from building permits and FHA records. Net purchases of used structures by this sector are derived from the data on net purchases described below under publicly owned structures and farm structures. Brokers' commissions on the sales of both new and used structures are estimated by OBE from data from Government and trade sources. Publicly owned structures, Federal and State and local. Public expenditures on new residential construction are estimated from monthly Census Bureau surveys of Federal Government agencies, State governments, and a sample of local governments. Expenditure data are lagged one month to produce valueput-in-place estimates. Net purchases of used structures are estimated by OBE from expenditure data of certain Federal agencies and State and local governments. Farm structures. New construction estimates are derived by the U.Su Department of Agriculture from farm expenditure surveys. Transfers of farm housing to nonfarm use during the last three decades were estimated by OBE from the decennial Censuses of Housing. Private nonhousekeeping units. Monthly estimates of new construction put in place are derived by the Census Bureau from contract award data using fixed monthly construction progress patterns. Mobile homes. Data on manufacturers' shipments of mobile homes from trade sources are raised to average retail values by OBE. These current-dollar data are deflated to constant (1958) dollars using the price indexes described below. These price indexes are also used to revalue the stock estimates in constant (1958) prices to current-year prices. Starting in 1963, the Census Bureau's index of the price of new one-family houses sold is used to deflate residentiaJ investment. This index is based on a survey of sales prices and characteristics SURVEY OF CURRENT BUSINESS November 1971 27 Table 4.—Alternative Estimates of Residential Capital Consumption, Nonfarm and Farm, 1925-70 [Billions of dollars] Nonfarm Total of nonfarm and farm Year NIA Perpetual inventory NIA Historical cost Current cost Farm Perpetual inventory NIA Historical cost Current cost Perpetual inventory Historical cost Current cost 1925 1926 1927 1928 1929 1930 1931 1932 1933 1934 n.a. n.a. n.a. n.a. 1.7 1.8 1.7 1.7 1.7 1.7 .1 .1 .2 .3 .4 .4 .4 .4 1.4 1.4 1.8 1.9 1.9 2.0 2.1 2.1 1.9 1.5 1.4 1.7 n.a. n.a. n.a. n.a. 1.5 .5 .6 .6 .6 .5 1.0 .0 .1 .2 .3 .3 .3 .3 .3 .3 .6 .7 .7 .8 .9 .9 .7 .4 .3 .5 n.a. n.a. n.a. n.a. .2 .3 .1 .1 .1 .2 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1.7 1.8 1.8 1.9 1.8 1.9 2.0 2.1 2.1 2.2 1.4 .4 .4 .4 .4 .5 .5 .5 .5 .5 1.6 1.7 1.9 1.9 2.0 2.1 2.3 2.5 2.6 2.9 .5 .6 .6 .7 .7 .7 .8 .9 .9 .9 .3 .3 .3 .3 .3 .3 .4 .4 .4 .4 .5 .6 .7 .8 .8 .9 2.1 2.3 2.4 2.6 .2 .2 .2 .2 .1 .2 .2 .2 .2 .3 .1 .1 .2 .1 .2 .2 .2 .2 .2 .3 L945 L946 1947 KHg 1949 I960 [951 L952 L953 1954 2.2 2.4 2.7 2.9 31 3.4 4.0 4.2 4.6 5.1 .5 .6 .7 .9 2.2 2.6 2.9 3.2 3.5 3.8 3.0 3.3 4.1 4.8 4.9 5.5 6.1 6.5 6.8 7.0 1.9 2.1 2.3 2.5 2.7 3.0 3.4 3.7 4.1 4.5 .4 .5 .6 .8 2.0 2.4 2.7 3.0 3.3 3.6 2.7 3.0 3.8 4.4 4.5 5.0 5.7 6.1 6.4 6.5 .3 .3 .4 .4 .4 .4 .6 .5 .5 .6 .'2 .2 .2 .2 .2 .2 .3 .3 .3 .4 .4 .5 .4 .4 .4 .5 955 5.5 5.8 6.3 6.7 7.1 7.6 8.0 8.5 9.1 9.6 4.2 4.6 5.0 5.3 5.7 6.1 6.4 6.8 7.3 7.7 7.5 8.2 8.7 9.0 9.6 10.1 10.4 10.9 11.6 12.2 5.0 5.3 5.7 6.1 6.5 7.0 7.4 7.9 8.4 8.9 4.0 4.4 4.8 5.1 5.5 5.9 6.2 6.6 7.1 7.5 7.0 7.7 8.2 8.6 9.1 9.6 9.9 10.4 11.0 11.7 .5 .5 .6 .6 .6 .6 .6 .6 .7 .7 .2 2 '.2 .2 .2 .2 .2 .2 .2 .2 .5 .5 .5 .4 .5 .5 .5 .5 .6 .5 10.2 10.5 11.1 11.6 12.3 13.0 8.2 8.7 9.1 9.6 10.2 10.7 12.8 13.5 14.5 15.6 17.1 18.2 9.4 9.8 10.3 10.8 11.4 12.0 8.0 8.5 8.9 9.4 10.0 10.5 12.3 13.0 14.0 15.1 16.5 17.6 .8 .7 .8 .8 .9 1.0 .2 .2 .2 .2 .2 .2 .5 .5 .5 .5 .6 .6 1956 .957 . .958 959 960 . . _- . 961 . 962 963 964 965 966 957 968 969 970 n.a. 0. 0.2 .2 .2 .2 .2 .2 .2 .1 .1 .2 Not available. )f new one-family houses sold. The iverage sales prices are adjusted for changing proportions of cost-associated >hysical characteristics of houses to >roduce the price index. This index s adjusted for changes in site values ising FHA data to produce the deflator. See the reference in footnote 7 for a letailed description of the index.) For r ears prior to 1963, the privately,ompiled Bo^ckh (residences) index is ised as the residential deflator. It is an ndex of residential construction costs, epresenting a weighted average of onstruction wage rates and materials 'rices. (Continued from page 7) Most of the major components of icome showed little change in October, lent, interest, and dividends, which ypically rise by small amounts, were inchanged. Farm proprietors' income fell slightly after several months of large gains, and transfers declined $% billion after having been swelled in September by a $1 billion nonrecurring payment. Wage and salary disbursements rose $1% billion, with manufacturing payrolls up more than $1 billion and others were generally little changed. In manufacturing, the increase in pay reflected a rise in weekly hours in some higher paying durable goods industries. Production and Employment in October Industrial output was virtually unchanged from September to October. Thus far this year, the Federal Reserve's index of total production has fluctuated within the narrow range of 105 to 107 percent of its 1967 base (chart 3). The index had been edging up in the spring, but was depressed in July and August by steep reductions in steel output. Steel production recovered in September and October, and though still considerably below normal levels, it is no longer a drag on the aggregate index. Private housing starts edged up slightly in October to a seasonally adjusted annual rate of 2 million units. All of the increase was in multifamily units; starts of single family units were unchanged from September to October. Starts were modestly higher in all regions except the West, where there has been recent evidence of some overbuilding. Building permits, which had declined slightly from July to September, rose sharply in October, with increases in permits for both single family and multi-family units. Unemployment declines Labor market indicators showed some improvement in October as unemployment edged down to 5.8 percent of the civilian labor force (seasonally adjusted) and employment expanded by 320,000 persons. This was the fourth consecutive monthly gain in employment and brought the figure to 79.8 million, up l}i million from the level that had been maintained for a year or more up to mid-1971. The October reduction in unemployment was due largely to a decline in the number of workers who had been laid off and was concentrated among adult men. The unemployment rate for married men fell from 3.3 percent to 3.0 percent, its lowest level in a year. However, the rates for adult women (5.5 percent) and teenagers (17 percent) were little changed. Also, the number unemployed 15 weeks or longer was unchanged in October for the third consecutive month. The number of workers on nonagricultural payrolls would have risen by about 85,000 in October had there not been a net increase in the number of workers on strike. Because of the increase in strikers, the employment total as reported in the payroll survey was unchanged, following a large gain of 375,000 in September. The average workweek in the private economy lengthened to 37.1 hours in October, more than offsetting a decline to 36.7 hours in September. SURVEY OF CURRENT BUSINESS 28 November 1971 ~l Sources and Uses of Funds of Nonfarm Nonfinancial Corporations; Size and Composition of personal Saving Estimates of the sources and uses of funds of nonfarm nonfinancial corporations are shown in table A for the period 1970-1—1971-11. Data for earlier periods were published in the November 1969 and August 1971 issues of the SURVEY. Table B shows data for 1970-1—1971-11 on the volume and composition of individuals' saving. Data back to the beginning of 1966 were published in the August 1971 SURVEY. The 1970 figures in tables A and B have not been revised; i.e., they are the same as those published in the August issue. The source of the data in tables A and B is the Flow of Funds accounts prepared by the Board of Governors of the Federal Reserve System. The figures are shown here for the convenience of SURVEY readers. Table B. —Amount and Composition of Individuals' Saving 1970-71 [Billions of dollars] 1970 1971 Line I II III I IV II Seasonally adjusted at annual rates Table A.—Sources and Uses of Funds, Nonfarm Nonfinaneial Corporate Business, 1970-71 [Billions of dollars] 19 n 19'ro I II III IV I II Seasonall y adjust 3d at anrlual rates Sources, total. .. nternal sources l Undistributed profits l Corporate inventory valuation adjustment _ . Capital consumption allowances i External sources Stocks .Bonds 2 Mortgages . Bank loans, n e e Other loans. _. Trade debt. Profits tax liability... Other liabilities Uses, total 117.4 105.4 96.8 103.0 59.7 13.4 61.8 12.8 62.1 13.4 62.4 9.6 68.3 12.3 123.7 71.8 15.7 16 17 18 19 52.1 -4.2 53.3 —5.5 54.2 -2.6 55.4 -3.5 59.5 -5.1 61.2 57.8 6.3 13.9 4.3 56 6.8 15.3 -2.5 8.0 43.5 6.2 22 7 3.4 83 4.7 .7 -4.6 2.2 34.7 5.0 20 7 58 40.5 49.7 23.8 23.8 —1 5 3.6 35 -3.0 .6 —7. 7 22 23 24 1.7 — i 5.1 .3 .4 2.4 51.9 16.4 22.1 12.3 2 5 -1.2 — 6. 3 5.8 .3 116.0 106.1 94.2 99.1 109.6 111.5 83.8 78.7 4.8 .3 91.7 81.0 4.5 6.3 26 27 28 1.2 1.1 —.7 4.2 25.8 3.0 .3 30 .8 -7.3 6.1 1.7 11.6 9.6 19 8 7.2 4.7 —1 5 6.0 -5.5 3.4 1.8 .0 10.8 -3.9 -8.3 -12.1 9.6 7.8 5.6 3.0 -3.3 80.1 77.0 2.8 .3 82.5 78.5 2.8 1.2 88.3 80.6 3.5 4.2 86.0 76.9 4.3 Increase in financial assets Liquid assetsDemand deposits and currency. Time deposits U.S. Government securities Open-market paper State and local obligations Consumer credit Trade credit Other financial assets 2 35 9 11.8 -2.4 5 -5.4 18.6 .6 1.5 18.6 3.9 23.6 14.0 -2.9 61 1.3 7.4 2.0 1.4 4.8 3.4 59 1.4 .6 32 3 -3.9 -29.1 1.6 1.7 2.0 .7 13.1 .7 -2.6 -1.4 4.8 8.5 .8 12 2 -4.5 -1.2 9.0 8.8 1. The figures shown here for "internal sources," "undistributed profits," and "capital consumption allowances" differ from those shown for "cash flow, net of dividends," "undistributed profits," and "capital consumption allowances" in the gross corporate product table (p. 14 of this issue of the SURVEY) for the following reasons: (1) these figures include, and the statistics in the gross corporate product table exclude, branch profits remitted from foreigners, net of corresponding U.S. remittances to foreigners; (2) these figures include and cash flow in the gross corporate product table excludes, the corporate inventory valuation adjustment; and (3) these figures exclude, and the gross corporate product figures include, the internal funds of corporations whose major activity is farming. 2. Foreign investment excludes amounts financed by bond issues abroad, and bond issues outside the United States are excluded from financial sources of funds above. Source: Board of Governors of the Federal Eeserve System. 12 13 14 15 -5.8 Purchases of physical assets Nonresident ialfixedinvestment. . Residential structures Change in business inventories Discrepancy (uses less sources) 118.0 1 Increase in financial assets 2 Currency and demand deposits. . 3 Savings accounts 4 Securities 5 U S savings bonds 6 Other U.S. Treasury securities 7 U.S. Government agency securities8 State and local obligations 9 Corporate and foreign bonds. 10 Investment company shares 11 Other corporate stock 20 21 25 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 Private life insurance reserves Private insured pension reserves Private noninsured pension reserves. . Government insurance and pension reserves. Miscellaneous financial assets. 57.4 5.5 50 21.7 — 9 6.4 9.3 1.2 12.3 1.6 -8.3 75.3 7.5 30 7 6.5 — 2 -7.0 3.9 -.4 10.2 2.7 -2.8 4.8 3.0 5.7 6.6 4.8 3.0 5.3 13.1 90.4 84.9 80.7 5.1 1.1 10.9 44 2 97.9 49.1 6.6 -1.2 -53.1 5 1.7 1.9 -1.4 -14.8 -34.6 5.0 -1.4 -17.2 -9.5 .0 2.7 9.5 11.3 14.9 .2 2.1 3.4 -2.7 -6.4 -13.0 4.8 3.1 6.2 7.5 4.8 3.1 9.0 8.9 4.8 5.9 7.8 9.0 114, 15 67. -1 2 -4 -3 -1 7 -3 4 3 7 13 5.1 4.4 7.5 6.0 7.2 *S Gross investment in tangible assets Nonfarm homes... _ ._ Noncorporate business construction and equipment Consumer durables . Inventories 137.8 19.7 140.4 19.4 138.7 17.3 134.0 19.2 155.4 21.6 15£ 24 29.4 . 29.4 90.7 88.6 .1 .9 30.2 90.4 .9 31.0 84.9 -1.1 33.4 97.6 2.9 & 10( Capital consumption allowances Nonfarm homes. . Noncorporate business plant and equipment. Consumer durables 109.6 9.1 111.5 9.2 113.0 9.3 113.8 9.4 115.7 9.6 IK 22.2 78.2 22.4 80.0 22.6 81.1 22.7 81.7 23.6 82.4 Net investment in tangible assets Nonfarm homes _. Noncorporate business construction and equipment Consumer durables Inventories 28.2 10.6 28.8 10.2 25.7 8.0 20.2 9.9 39.7 12.0 7.2 10.4 .1 7.0 10.7 .9 7.6 9.2 .9 8.3* 3.1 -1.1 9.7 15.1 2.9 Increase in debt..- . . _ _ . ._ Mortgage debt on nonfarm homes Noncorporate business mortgage debt Consumer credit. Security credit Policy loans Other debt 24.3 11.0 26.8 12.2 37.2 13.7 27.2 13.0 42.5 13.1 5 2 6.5 4.8 -5.2 2.9 4.3 6.5 6.1 -3.9 2.7 3.2 9.4 6.2 .9 2.0 4.9 9.8 .2 .6 1.4 2.1 9.9 4.0 1.1 .9 13.3 1 61.3 77.3 73.5 73.7 87.7 9 Individual saving (1+26-31) .. Less: Government insurance and pension reserves Net investment in consumer durables... .. Capital gains dividends from investment companies Net saving by farm corporations Equals personal saving, flow of funds account basis. _ __ Personal saving, national income and product account basis Difference (44—43) 2< s: 4: i ii1 i 1 6.6 13.1 7.5 8.9 9.0 1 10.4 10.7 9.2 3.1 15.1 1 1.4 1.2 .8 .2 .4 .0 .0 .0 .0 .0 42.9 52.3 55.9 61.4 63.1 6 46.2 3.3 54.2 1.9 57.4 1.5 58.5 -2.9 58.4 -4.7 6 1. Combined statement for households, farm, and nonfarm noncorporate business. Source: Board of Governors of the Federal Reserve System. U.S. GOVERNMENT PRINTING OFFICE : 1971 O - 448-C CURRENT BUSINESS STATISTICS J_HE STATISTICS here update series published in the 1969 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY OF CURRENT BUSINESS. That volume (price $3.00) provides a description of each series, references to sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1965 through 1968 (1958-68 for major quarterly series), annually, 1939-68; for selected series, monthly or quarterly, 1947-68 (where available). Series added or significantly revised after the 1969 BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger ( f ) , respectively; certain revisions for 1968 issued too late for inclusion in the 1969 volume appear in the monthly SURVEY beginning with the September 1969 issue. Also, unless otherwise noted, revised monthly data for periods not shown herein corresponding to revised annual data are available upon request. The sources of the data are given in the 1969 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and are also listed alphabetically on pages 189-90. Statistics originating in Government agencies are not copyrighted and may be reprinted freely. Data from private sources are provided through the courtesy of the compilers, and are subject to their copyrights. 1968 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS | 1969 1968 1970 1969 III IV I II 1971 1970 IV III I II III IV I | II | III Annual total Seasonally adjusted quarterly totals at annual rates GENERAL BUSINESS INDICATORS—Quarterly Series NATIONAL INCOME AND PRODUCT 1,020.8 1, 013. 1 a, oeo.s 644.6 660.9 ' 672. 5 84.9 32.7 37.6 97.6 44.1 39.5 100.8 45,7 40.4 104.7 '49. 2 '40.6 265.5 52.4 132.4 22.9 270.9 54.2 134.3 23.5 272. 0 54.9 135.1 23.8 279.8 r 282. 0 57.0 '57.3 138.2 r 139. 2 24.3 ••25.0 260.2 35.7 90.3 17.6 265.0 36.7 91.8 18. 1 268.9 36.9 94.1 18.3 275.0 37.7 96.4 18.6 280.4 38.6 98.6 18.9 _ bil.$ 864.2 929.1 974.1 875.2 890.2 906.4 921.8 940.2 948.0 956.0 968.5 983. 5 988.4 Personal consumption expenditures, total do 536.2 579.6 615.8 544.0 552.5 564.3 575.8 584.1 594. 2 604.0 613.8 620.9 624.7 Durable goods total 9 Automobiles and parts _ Furniture and household equipment do do do 84.0 37.5 34.3 89.9 40.4 36.3 88.6 37.1 37.4 86 3 38.9 35.1 87 0 39.0 35.0 89 5 40. 1 35.6 90 6 39.9 37.0 89 4 40.4 36.2 90 3 41.0 36.2 88 6 37.8 37.3 90.7 39.1 37.6 90.4 38.8 37.0 ___ do _do do _ _ do 230.8 46.3 115.3 19.0 247.6 50.3 122.5 21. 1 264.7 52.6 131.8 22.9 233.6 47.4 116.5 19.2 236.9 47.7 117.9 19.4 241.5 48.5 120.4 20.2 246.4 50.6 121.9 20.8 249.4 51.0 122.9 21.5 253.1 51.1 124.8 21.9 259.4 51.6 128.9 22.5 262.9 52.1 131.4 22.6 do _ _ _ .do _do do 221.3 31.2 77.3 15.5 242.1 33.7 84.0 16.5 262.5 36.1 91.2 17.9 224.1 31.5 77.8 15.7 228.6 32.1 79.7 15.8 233.4 32.8 81.4 16 2 238.9 33.0 83.0 16.4 245.2 34.1 84.7 16 6 250 8 35.0 86.9 16 8 256 1 35.1 88.7 17 5 Gross national product, total f Nondurable goods, total 9 Clothing and shoes Food and beverages Gasoline and oil Services, total 9 Household operation Housing _ _ _ _ _ _ Transportation _ - __ _ 285.7 ••39.7 - 100. 7 ^19.1 126.0 137.8 135.3 126.2 130.7 134.3 137.0 141.8 138.0 131.2 134.1 138.6 137.3 143.8 152.4 r 153. 6 118.9 88.8 30.3 58.5 30.1 29.5 7. 1 6.9 130.4 98.6 34.5 64.1 31.8 31.2 132. 5 102. 1 36.8 65.4 30.4 29.7 118.5 88.8 30.0 58.8 29.7 29.2 127.6 95.0 33. 1 61.8 32.7 32. 1 132.3 102.2 36 0 66.2 30.1 29 5 130.8 100.8 36 1 64.7 30.0 29 4 132.1 102.1 36.6 65.6 29.9 29.3 116 7 107.0 38.2 68.8 39.7 39.1 r 152. 5 .1 3.7 3.3 3.2 3.0 5.7 5. 5 2.1 1.8 133.5 104. 8 37.3 67.5 28.7 28. 1 6.8 6.7 131.4 100.7 36.0 64.7 30.7 30. 1 10.4 10.3 140.6 104. 3 37.9 66.3 36.4 35.7 7.7 7.5 130.2 96.6 33.0 63.6 33.6 33. 1 133.6 100.8 37.1 63.7 32.8 32.2 2.8 2.5 122.6 91.2 31.2 60.1 31.4 30.8 _ _ do do do 2.5 50.6 48.1 2.0 3.4 4.0 2.7 -.5 50.8 49.5 48.0 46 6 2.7 3.5 53.1 49.7 56.9 55 7 2.8 4.2 62.9 59.3 1.2 4.2 55.6 53.6 3.6 58.3 55 5 59.2 56 6 61.5 58 0 63.2 59 0 63.7 59 7 63.2 60 5 66.1 61.9 63.4 66.9 '68.9 '68.4 Govt. purchases of goods and services, total__do Federal. __ _ do National defense . _ _ _ _ _ . _. d o _ State and local do 199.6 98.8 78.3 100.8 209.7 99. 2 78.4 110.6 219.4 97.2 75.4 122.2 201.6 99.8 79.1 101.8 205.7 100.6 79.4 105. 1 206.5 99.2 78.3 107.3 207.8 97.7 77.5 110 1 211. 5 100 3 79.4 111 2 213.0 99 5 78.4 113 5 217.3 100 2 78.9 117 1 216.5 96 8 75.1 119 7 220.1 96. 1 74.2 124.0 223.7 95.9 73.2 127.9 228.2 96.7 73.0 131.5 230.2 95. 7 71.8 134. 5 ' 234. 2 '97.4 ' 70. 8 136.8 857. 1 921 7 449. 9 180. 9 269. 0 377.4 94.4 971 3 465 5 180.8 284.7 410.3 95. 5 867 5 428 9 172.4 256.5 351.4 87 2 882 1 433 i 174.0 259. 1 357. 6 91 4 899 8 441 3 179. 1 262.2 364.0 94 5 915 0 447 7 179. 6 268.0 371 9 95 3 929 8 452 3 181.3 271.0 383 0 94 5 942 3 458 3 183.4 274.9 390 6 93 4 955 6 461 5 181.5 279 9 400 8 93 4 966 5 466 6 183.7 282.9 406 2 93 7 978 4 469 8 184.9 284.9 413.7 94 9 984 7 464 0 173.1 290.9 420.6 100 1 2.8 7 7 4 5 3. 1 8. 1 6 0 2. 1 6 6 38 10 4 6 5 4 0 5 7 3 0 2 8 4 2.8 6 8 4 7 2 1 —1 8 2 2 2 1 —2 0 4 0 51 4 7 37 —3 4 7. 1 -.6 724.2 727.8 725.2 719.8 721.1 723.3 715.9 729.7 738.4 ' 745. 5 ' 496. 5 Gross private domestic investment, total do Fixed investment _ _ do Nonresidential _ _ _ __ _do_ __ Structures do Producers' durable equipment _ _ -do Residential structures _ _ _ _ _ _ do___ Nonfarm do Change in business inventories do Nonfarm _ _ _ _do _ Net exports of goods and services Exports Imports By major type of product: f Final sales, total Goods, total Durable goods Nondurable goods Services. __ , _ _ Structures _ _ _ do do do _. _ do_ _ do do Change in business inventories Durable goods Nondurable goods. _ do do do 422. 4 169. 6 252.9 346. 6 88. 1 7.1 4.9 2.1 7.4 7.3 7.4 4 5 2.9 — 6 3,4 8.1 8.1 6.6 6.5 1.3 1.4 5.7 .4 5.1 4.7 .4 5 2 ' 109. 3 ' 39. 1 '70.1 '43.3 '42.7 r 1.1 '.3 '.5 1,017 6 1,037 4 '1,059.7 488 9 '500 2 480 0 191.5 ' 198. 0 188.0 297.4 ' 302. 2 292. 0 43!). 8 ' 446. 1 432.3 108 6 ' 113. 4 105 2 5.7 3.2 2 7 38 3.0 ' 1.1 ' —.5 '1.6 GNP in constant (1958) dollars Gross national product, total t Personal consumption expenditures, total Durable goods Nondurable goods Services Gross private domestic investment, total Fixed investment Nonresidential _ _ Residential structures... . Change in business inventories bil. $__ 706.6 724.7 720.0 712.3 716.5 721.4 do 452.7 469.3 475. 9 457.7 460.2 465.7 469.0 469.9 472.6 474.4 477.1 477.9 474.2 484.8 492.3 do do do 81 3 197. 1 174 4 84 8 202.7 181 8 81 4 207 3 187 2 83 4 198 6 175 8 83 3 199 4 177 5 85 2 201 6 178 9 85 6 202 8 180 6 84 0 203 0 189 9 84 4 203 4 184 8 82 3 205 7 186 4 83 8 206 5 186 8 82 8 207 3 187 9 76 6 209 7 187 9 86 7 209 2 188 8 89 2 213 2 190 0 do 105.2 109.6 102.2 104. 9 107.7 108.4 109.4 112.4 108. 2 101.0 102.7 104.0 101.2 104.7 109.9 ' 109. 0 98 8 75.6 23.2 103 2 80 1 23.1 99 9 78 6 21.3 97 75 2? 7 9 3 6 0 100 3 76 6 23 7 109 78 24 5 103 79 24 5 103 81 22 9 2 1 1 2 103 3 81 7 21 6 4 9 100 7 79 3 21 4 100 79 21 2 100 80 20 3 102 77 24 2 1 5 6 6 105 0 78 7 26.4 ' 107. 6 79.2 '28.5 ' 1.3 6 6 17 o 6 3 2 2 1 2 6 -1.0 144.8 73 2 71 6 143.8 71 6 142.6 69 4 73 2 138.7 65 3 73 4 138.2 63 8 138.3 63 ° 75. 2 137.6 61 5 76.1 137.1 60 5 76.6 do do do do. _ 6.4 6.4 2.3 7.4 8 6 1 7 do 1.0 .1 2 4 16 — 3 r Govt. purchases of goods and services, total.. do Federal _ do State and local _ do 147.7 78 1 69.6 145. 6 73 8 71. 9 139.4 65 4 74.0 148.0 78 4 69.7 149.0 78 1 70.9 147.8 76 3 71.4 Net exports of goods and services T Revised. p Preliminary. t Revised series. Estimates of national income and product and personal income have been revised back to 1967 (see p. 13 ft of the July 1971 SURVEY) ; Digitized for448-091 FRASER O - 71 - S - 1 5 1 4 8 146.1 73 9 72. 1 72' 2 3 7 4 3 0 1 1 0 9 74.' 3 1 98 75 22 3 1 5 6 1 4.9 ' 92 0 213.2 191 3 ' .5 ' 139. 5 ' 62 5 77.0 revisions prior to May 1970 for personal income appear on p. 22 ff. of the July 1971 SURVEY. 9 Includes data not shown separately. s-l SURVEY OF CURRENT BUSINESS S-2 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1968 ! 1969 1970 Annual total 1969 1968 IV November 1971 I II 1970 III IV I 1971 m II IV I II ' 1 I / III IV GENERAL BUSINESS INDICATORS—Quarterly Series—Continued NATIONAL INCOME AND PRODUCT— Con. Quarterly Data Seasonally Adjusted at Annual Rates National! income totalt bil $ Compensation of employees total Wages and salaries total Private Military Government civilian Supplements to wages and salaries Proprietors' income, total 9 lousiness and professional 9 Farm Rental income of persons 711.1 763.7 795.9 732.7 745.9 758.9 771.7 778.2 785.8 793.4 802.2 802.1 828.3 844.5 do 514.6 565.5 601.9 533.6 545.9 559.1 573.6 583.6 593.2 598.5 606.5 609.3 627.9 639.5 ' 647. 7 do do do do do do do do do 464.9 369.2 17.9 77.8 49.7 64.2 49.5 14.7 21.2 509.6 405.5 19.0 85.1 56.0 67.0 50.3 16.8 22.6 541.4 426.6 19.4 95.5 60.5 66.9 51.0 15.8 23.3 481.6 382.7 18.2 80.7 52.0 65.3 49.8 15.5 21.3 491.8 391.8 18.1 81.9 54.1 66.7 50.2 16.5 22.0 503.7 402.0 18.4 83.4 55.3 67.1 50.5 16.6 22.6 516.9 410.4 20.0 86.5 56.7 67.1 50.5 16.6 22.7 525.8 417.7 19.6 88.5 57.8 67.2 49.8 17.4 22.9 534.7 422. 5 20.2 92. 1 58.5 68.0 50.2 17.8 23.0 538.5 424. 4 19.5 94.5 60.0 67.6 51.0 16.6 23.2 545.2 429.4 19.2 96.6 61.3 66.0 51.4 14.5 23.4 547.2 429. 9 18.6 98.6 62.1 65.9 51.5 14.4 23.7 562.3 441.2 19.2 101.8 65.7 66.0 51.2 14.8 23.8 572.4 449.8 18.6 104.0 67.1 66.7 51.5 15.2 24.2 r 579. 0 r 454. 0 18.0 106.9 68.7 68.8 51.8 17.0 24.5 84.3 78.6 70.8 84.7 82.7 80.7 78.0 73.3 69.8 71.5 73.0 69.0 75.5 78.3 P77.2 11.3 73.0 41.7 19 3 22.4 12.1 66.5 36.0 17.5 18.4 12.8 58.1 29.5 16.6 13.0 11.8 72.9 41.6 19.1 22.5 12.0 70.7 39.3 18.2 21.1 12.3 68.4 36.9 18.0 18.9 12.2 65.8 34.8 17.0 17.8 12.0 61.3 33.0 16.9 16.1 11.3 58.5 31.1 16.7 14.3 12.1 59.4 31.5 16.5 14.9 13.5 59.5 30.6 16.8 13.8 14.0 54.9 25.0 16.2 8.8 14.1 61.4 32.4 16.4 16.0 13.6 64.7 33.3 17.3 16.1 P14.2 P63.0 10.6 20.7 10.0 20.6 8.0 20.5 10.3 21.0 10.6 20.8 10.4 21.0 9.8 21.2 9.1 19.2 8.2 19.2 7.8 20.1 7.9 20.9 8.1 21.9 7.3 21.6 7.7 23.6 87.6 39.9 47.8 23.6 24.2 -3.3 26.9 84.2 39.7 44.5 24.4 20.0 -5 5 29.9 75.4 34.1 41.2 25.0 16.2 — 4.5 33.0 89.0 40.4 48.5 24.3 24.3 -4.2 27.8 88.7 41.8 46.9 24.0 22.9 -6.0 28.6 86.9 41.0 45.9 24.2 21.6 -6.3 29.4 81.2 38.2 43.0 24.7 18.3 -3.2 30.2 80.0 37.7 42.3 24.9 17.4 -6.7 31.1 75.6 34.1 41.5 25.0 16.6 -5.8 31.8 75.8 34.5 41.3 24.9 16.4 -4.2 32.6 78.5 35.6 42.9 25.2 17.7 -5.5 33.4 71.6 32.3 39.2 25.0 14.3 -2.6 34.2 79.1 36.2 42.9 25.6 17.3 —3 5 35.0 83.3 37.4 46.0 25.4 20.5 -5.1 35.8 ^83.6 *>37 9 P45.8 25.7 *20.1 '-6.4 36.4 688.9 97.9 591.0 551.2 39.8 750.3 116.2 634.2 596.3 37.9 803.6 115.9 687.8 633.7 54.1 712.6 107.1 605.5 568.1 37.3 726.8 113.6 613.2 580.4 32.8 743.1 117.2 625. 9 592.4 33.4 759.3 116.1 643.2 600.9 42.3 772.2 117.8 654.5 611.4 43.1 784.3 116.7 667.6 621. 5 46.2 803.8 118.0 685.7 631.5 54.2 809.8 113.5 696.2 638. 9 57.4 816.7 115.2 701.5 643.0 58.5 834.3 112.7 721.6 663.2 58.4 854.8 114.0 740.8 679.9 60.9 ' 866. 1 '116.9 749.2 ^691.5 '57.7 67.76 28.37 14.12 14.25 75.56 31.68 15.96 15.72 79.71 31.95 15.80 16.15 19.03 8.10 4.16 3.94 16.04 6.58 3.36 3.22 18.81 7.82 3.98 3.84 19.25 8.16 4.03 4.12 21.46 9.12 4.59 4.53 17.47 7.14 3.59 3.56 20.33 8.15 4.08 4.07 20.26 7.99 3.87 4.12 21. 66 8.66 4.26 4.40 17.68 6.69 3.11 3.58 20.60 7.55 3.52 4.03 i 20. 55 7.45 3.60 3.86 i 22. 61 8.42 4.08 4.34 39.40 1.63 1.45 2.56 1.59 10.20 7.66 2.54 6.83 15.14 43.88 1.86 1.86 2.51 1.68 11.61 8.94 2.67 8.30 16.05 47.76 1.89 1.78 3.03 1.23 13.14 10.65 2.49 10.10 16.59 10.93 .40 .38 .66 .47 2.90 2.16 .74 2.00 4.13 9.45 .42 .38 .68 .38 2.36 1.88 .48 1.81 3.41 10.99 .48 .44 .66 .46 2.99 2.22 .77 2.00 3.97 11.10 .47 .49 .53 .40 3.03 2.23 .80 2.11 4.07 12.34 .49 .55 .64 .44 3.23 2.61 .62 2.39 4.60 10.32 .45 .42 .73 .28 2.54 2,15 .39 2.14 3.76 12.18 .47 .47 .80 .31 3.28 2.59 .69 2.59 4.26 12.27 .46 .46 .74 .30 3.58 2.79 .78 2.56 4.16 12.99 .50 .43 .76 .33 3.74 3.12 .63 2.81 4.42 10.99 .49 .34 .34 .28 3.11 2.70 .41 2.50 3.94 13.06 13.10 .52 .43 .37 .34 4.12 3.38 .73 14.19 .54 .40 .54 .34 4.46 3.83 .64 27.33 2 7.90 do do do do 69.05 28.70 14.39 14.31 72.52 29.99 15.47 14.52 73.94 31.16 15.98 15.18 77.84 33.05 16.53 16.52 77.84 32.39 15.88 16.50 78.22 32.44 16.40 16.05 80.22 32.43 16.32 16.11 81.88 32.15 15.74 16.40 78.63 30.98 14.92 16.05 79.32 30.46 14.21 16.25 81.61 30.12 14.06 16.06 do do do do do do do do 40.35 1.52 1.34 2.87 1.75 10.63 7.74 2.89 7.34 14.91 42.53 1.83 1.68 2.89 1.87 11.52 8.62 2.90 7.74 15.00 42.78 1.88 1.76 2.22 1.66 11.68 8.71 2.97 7.92 15.67 44.80 1.89 2.06 2.23 1.65 11.48 8.98 2.50 8.71 16.78 45.46 1.85 1.94 2.80 1.63 11.80 9.36 2.44 8.76 16.67 45.78 1.92 1.74 2.94 1.37 12.14 9.77 2.37 9.14 16.52 47.79 1.84 1.88 2.88 1. 12 12.72 10.15 2.57 10.38 16. 98 49.73 1.86 1.96 3.24 1.22 13.84 11.34 2.50 10.62 17.00 47.66 1.94 1.56 3.08 1.22 13.68 11.20 2,48 10.20 15.97 48.86 2.04 1.46 1.29 1.33 14.64 12.16 2.48 10.70 17.39 51.50 2.08 1.88 2.28 1.40 14.91 12.61 2.30 11. 21 17.72 12, 701 8,378 11, 995 7,510 14, 222 9,490 14, 574 9,602 14, 811 9,888 15, 374 10, 241 15, 806 10, 582 15, 930 10, 696 15, 795 10, 461 16,547 11,030 Corporate profits and inventory valuation adjustment total bil $ By broad industry groups: Financial institutions do Nonfinancial corporations total do Manufacturing total do Durable goods industries do Transportation, communication, and public utilities bil $ A.11 other industries do Corporate profits before tax total do Corporate profits tax liability do Corporate profits after tax do Dividends do Undistributed profits do Inventory valuation adjustment do Net interest do DISPOSITION OF PERSONAL INCOMEf Quarterly Data Seasonally Adjusted at Annual Rates Personal income total bil $ Less' Personal tax and nontax payments do Equals' Disposable personal income do Less* Personal outlays© do Equals' Personal savings do NEW PLANT AND EQUIPMENT EXPENDITURES Unadjusted quarterly Or annual totals:! All industries bil. $ Manufacturing do Durable goods industries 1 do Nondurable goods industries ^ do Nonmanufacturing Mining Railroad Air transportation Other transportation Public utilities Electric Gas and other _ Communication Commercial and other Seas. adj. qtrly. totals at annual rates:} All industries Manufacturing Durable goods industries 1f Nondurable goods industries ^f Nonmanufacturing Mining Railroad Air transportation Other transportation Public utilities Electric Gas and other Commercial and other do do do do do do do do do do do U.S. BALANCE OF INTERNATIONAL PAYMENTSd" Quarterly Data Are Seasonally Adjusted '(Credits +; debits -) Exports of goods and services (excl. transfers under military grants) mil ^ Merchandise adjusted excl military do Transfers under U.S. military agency sales contracts mil $ Receipts of income on U.S. investments abroad mil $ Other services __ . do - 50, 623 33, 588 55, 600 36, 490 62, 903 41, 980 ;g .60 .36 3.83 3 20 .63 2.81 4.44 p 854. 6 i 82. 38 i 82. 42 20. 74 30. 22 14.45 14. 53 15.21 15.76 52. 64 2.10 1.78 1.58 1.32 16.05 13.69 2.36 52.20 2.09 1.46 2.21 1.23 16.36 13.83 2.53 2 29. 80 2 28. 86 16, 632 10, 716 pil,505 1,395 1,515 1,480 357 407 329 442 336 274 447 327 433 507 543 9 233 6,407 10, 539 7,056 11, 409 8,034 2,339 1,627 2,471 1,607 2,585 1,818 2,716 1,814 2,767 1,820 2,925 1,934 2, 791 1,986 2,855 2,052 2, 839 2,062 2,897 2, 113 3,239 2,134 -48,134 -53, 589 -59,311 -12, 384 -11.657 -13, 926 -13, 866 -14, 142 -14, 493 -14, 761 -14, 935 -15, 125 —15,400 -16,654 -32,964 -35, 830 -39,870 -8,441 - 7, 589 -9,566 -9,278 —9, 397 -9,728 -9,831 -9,992 -10,319 —10,761 —11,756 p-12,025 Merchandise, adjusted, excl. military _. do Direct defense expenditures do -4,535 -4,856 -4,851 -1,173 -1,198 -1,187 -1,221 — 1, 251 -1,182 -1,255 -1,211 -1,203 -1,174 -1,220 Payments of income on foreign investments in the -929 -1,078 -1,242 —1,315 -1,348 -1,322 -1,284 -1,213 -1,137 -1,084 -800 U.S mil $ -3,013 -4,564 -5,167 -7,621 -8,339 -9,425 -1,970 -1,941 -2,095 -2,125 1—2, 179 -2,235 -2,353 -2,448 -2,390 -2,328 -2, 594 Other services do r SURVEY. ©Personal outlays comprise personal consumption expenditures, interest Revised. v Preliminary. 1 Estimates (corrected for systematic biases) for Julypaid by consumers, and personal transfer payments to foreigners. §Personal saving is Sept, and Oct.-Dec. 1971 i)ased on expected capital expenditures of business. Expected ex2 excess of disposable income over personal outlays. penditures for the year 1971 appear on p. 14 ff. of the Sept. 1971 SURVEY. Includes comHData for individual durable and nondurable goods industries components appear in the munication. fSee corresponding note on p. S-l. 9Includes inventory valuation adMar., June, Sept., and Dec. issues of the SURVEY. cfRevised; more complete details, justment. {Revised series; explanation of revisions and annual and quarterly data back as well as revised quarterly data back to 1966, appear on p. 24 ff. of the June 1971 SURVEY. to 1947 appear on pp. 25 ff. of the Jan. 1970 SURVEY; see also pp. 19 ff. of the Feb. 1970 - i--- SURVEY OF CURRENT BUSINESS November 1971 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1968 1969 Annual total 1970 1969 1968 1970 S-3 IV III I II IV III IV I -803 -394 -836 -410 -770 -598 -1,748 1,586 -1,647 1,416 III II 1 1971 II III P GENERAL BUSINESS INDICATORS—Quarterly Series—Continued U.S. BALANCE OF INTERNATIONAL PAYMENTS §— Con. Quarterly Data Are Seasonally Adjusted Unilateral transfers, excl. military grants, net mil. $„. -2,875 -2,910 U.S. Government capital flows, net. _.. ...do .. -2,268 -2,193 -3,148 -1,593 -779 -363 -758 -570 -630 -411 -839 -630 -693 -691 U.S. private capital flows, net __ do -5,383 -5,424 9,411 12, 306 Foreign capital flows, net do Transactions in U.S. official reserve assets, net -880 -1,187 mil. $.- -6,914 -1,692 -1,662 -1,494 -1,889 -1,380 5,824 2,409 3,515 3,989 3,338 3,458 Allocation of special drawing rights (SDR) do Errors and omissions, net do -493 -2,603 2,489 Balance on goods and services do 2,011 1,321 Balance on goods, services, and remittances do 745 Balance on current account do -386 —899 Balance on current account and long-term capital mil. $.. -1,349 -2,879 867 -1,104 3,592 2,182 444 -3,038 -433 -754 Net liquidity balance _ . _ Official reserve transactions balance. Liquidity balance, excluding SDR.. -3,821 -9,821 -4,721 -357 327 65 -531 -1,234 -3,019 -1,996 -410 1,337 1,659 -679 111 -1,469 -3,287 -2,366 do -1,610 -6,084 1,641 . .do 2,702 ..... do .. 172 -6,958 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes areas shown in the 1969 edition of BUSINESS STATISTICS 1969 2,477 -48 47 -1,092 317 338 52 26 -462 -292 332 848 525 90 1970 Annual -1,076 -571 -147 -299 -628 296 -22 -543 -686 -717 708 386 15 -2,019 -1,070 -749 -461 -662 1,523 -753 -366 -756 -423 -1,941 -1,579 1,817 1,006 Oct. -2,230 -1,967 2,615 4,937 682 -154 264 805 584 824 -166 669 328 -80 217 -59 881 543 125 217 -375 1,045 683 292 217 -437 995 636 192 216 -233 670 319 -166 180 179 -1,026 -2, 335 1,147 -22 805 -379 377 -864 -570 -340 -832 -1,306 -3, 141 356 -1,297 163 384 164 -1,254 -868 -2,864 -1,404 -745 -1,629 -675 -2,075 -1,154 659 179 217 '-5,723 p-9,299 -1,024 '-2,511 -3,478 rr-5,531 r-5,725 p— 12,108 -3,199 -1,194 '-6,006 -10,176 1971 1970 Sept. -842 -609 Nov. Dec. Jan. Feb. Mar. Apr. | 1 May June July Aug. Sept. Oct. P GENERAL BUSINESS INDICATORS—Monthly Series PERSONAL INCOME, BY SOURCE f Seasonally adjusted, at annual rates: f Total personal income bil. $ 750 3 803 6 814 9 813 6 815 7 820 9 830 0 833 2 839 7 844 4 850 0 870 1 859 2 867 6 r 871 5 872 3 Wage and salary disbursements, total do Commodity-producing industries, total. do Manufacturing... do Distributive industries... __ _ . . d o 509.6 197.4 157 6 120.0 541.4 200.7 158 3 129 1 548.7 201.3 159 0 131 3 544.2 196.6 153 8 131 9 545.9 196.6 153 2 139 2 551.5 202.1 158 4 131 4 559.2 202.8 159 4 134 2 561.5 202.5 159 2 135 4 566.1 204.3 160 2 136 8 569.0 205.4 160 6 137 6 573.3 207.1 162 0 138 7 574.8 207.5 162 4 138 6 574.7 206.2 161 4 138 6 580.9 206.5 161 4 140 5 r 581. 582.7 208.6 163 6 141 1 Service industries Government .. Other labor income __ Proprietojs' income: Business and professional Farm. do do do 88.1 104.1 28.2 96.7 114.8 30.8 97.8 118.3 31.4 98.8 116.8 31.7 99.8 117.3 32.0 100.4 117.7 32.2 101.9 120.3 32.4 102.4 121.2 32.6 103.3 121.6 32.8 103.9 122.1 33.1 105.0 122.6 33.4 105.7 123.0 33.7 106.3 123.6 33.9 107.4 126.6 34.1 do do 50.3 16.8 51.0 15.8 51.4 13.9 51.5 14.2 51.4 14.5 51.5 14.6 51.2 14.7 51.1 14.8 51.3 14.9 51.4 15.1 51.5 15 2 51.6 15.3 51.7 16 1 51.8 17.0 22.6 24.4 58.8 65.9 23.3 25,0 64.7 79.6 23.5 25.4 66.3 82.9 23.5 25.4 66.5 84.7 23.7 25.5 66.7 84.5 23.8 23.9 66.8 85.1 23.9 25.6 66.9 86.8 23.5 25.7 67.0 87.8 24.0 25.5 67.0 89.1 24.1 25.5 67.3 89.8 24 2 25 6 67.5 90. 5 24.3 25 2 67.5 109.0 24.4 25 6 68.1 96.2 24.5 25 7 68.7 96. 5 _ Rental income of persons. . do Dividends.. . do Personal interest income do Transfer payments. _ _ _ do Less personal contributions for social insurance bil. $.. Total nonagricultural income do 4 r 207. 9 169 4 r 141 o r 107 7 124 7 34 3 108 1 124 9 34 4 51 9 r 17 8 52 0 17 6 24 5 25 7 '69.5 r 97 9 24 5 25 7 69.5 97 5 26.3 28.0 28.5 28.2 28.3 28.6 30.7 30.8 31.1 31.1 31.3 31.4 31.5 31.7 31.7 31.8 727.7 781.4 794.2 792.5 795.0 800.5 808.7 811.6 818.0 822.5 827.9 848.0 836.4 843.9 '846.9 847.9 4 891 FARM INCOME AND MARKETINGS J Cash receipts from farming, including Government payments, total t._ . mil.$ 51,911 52, 948 4,582 5,847 5, 183 4,233 4,283 3,406 3,557 3,493 3,443 3,763 6 146 4 590 48, 117 19, 527 28, 590 6,206 17, 639 4,426 49. 231 19,636 29, 595 6,523 18, 497 4 303 4,539 1,980 2, 559 521 1,633 388 5,750 2, 965 2,785 542 1, 852 374 5, 153 2,884 2,269 519 1,374 360 4,201 1 999 2,202 556 1, 267 354 4,242 1 929 2 313 562 1 400 327 3 383 1 113 2 270 525 1 434 286 3,543 1 082 2,461 587 1 539 313 3,418 976 2,442 581 1 527 308 3 428 952 2 476 618 1 5°1 310 3 744 1 246 2 498 585 1 558 334 3 986 1 609 2 377 568 1 443 348 4 234 1 713 9 521 539 1 598 367 Indexes of cash receipts from marketings and CCC loans, unadjusted:© All commodities O 1967-100 Crops _ do Livestock and products do 113 106 118 115 106 122 128 129 127 162 193 138 145 188 112 118 130 109 119 126 114 95 72 112 100 70 122 96 64 121 96 62 122 105 81 124 112 105 118 119 112 125 Indexes of volume of farm marketings, unadjusted :{ All commodities©1967 — 100 Crops __ do Livestock and products. do 105 110 101 104 103 104 113 116 110 148 181 122 137 183 103 117 135 103 122 145 104 83 67 95 85 58 106 81 48 106 81 47 107 91 68 109 101 100 109 106 105 107 Farm marketings and CCC loans, total Crops _ Livestock and products, total 9 Dairy products _ Meat animals.. Poultry and eggs do do do do do do r 4 765 2 129 2 636 r j 722 1 889 r' ^f»4 ' ^M r r r 544 6 102 3 286 2 816 Cfifl 172 r 1 ^Q 91 A '130 139 -J9Q i f»^ 201 117 T r 13^ ji i r INDUSTRIAL PRODUCTION tf Federal Reserve Board Index of Quantity Output Unadjusted, total index tf .. . By market groupings: Final products Consumer goods . Automotive products Home goods and clothing. Equipment .... pllO. 7 P 106. 7 109.6 106.5 103.1 102.0 103 2 106 1 106 0 106 5 107 3 109 7 do do do do. .. do p 109. 0 p 111.1 p 117 4 P 108. 8 p 106. 1 P 104. 4 "110.3 P99 9 P 104. 7 P 96. 2 107.8 116. 9 94 7 109. 3 95. 0 104 5 llo. 6 83 7 110.3 91 9 100 2 107.2 80 1 103. 0 90 4 98 9 105. 4 100 0 94. 0 89 8 101 0 110 3 115 6 99. 1 88 1 103 113 125 104 89 103 0 112 9 125 3 10S' 9 89 1 109 9 113 6 121 9 102 7 113 5 197 2 106 9 87 6 107 119 130 110 90 do P112.4 P 107. 8 109 2 105 8 103 7 104 1 105 4 108 3 108 4 109 0 do do do P 110 5 P 110.0 p 111.1 P 105. 2 P101.5 p 110. 6 107 6 102. 2 115.3 104 7 97.6 115.0 101 2 94.6 110 7 99 7 95. 9 105 2 100 9 96. 8 106 8 104 3 100. 2 110 2 104 4 100. o 109 8 105 0 100.4 111 7 121. 1 117.5 Mining and utilities do 120.7 "112.7 P 118.0 '•Revised. p Preliminary. §Spenote"c? "onp. S-2. fSee corresponding note on p. S-l. JSeries revised beginning 1967; monthly data prior to May 1970 are shown in the Farm Income Situation. July 1970 and July 1971, available from the U.S. Dcpt. of Agriculture, Economic Research Service. ONew reference base, 1967 = 100; comparable data for earlier will be shown later. 9 Includes data for items not shown separately. cfErTecDigitizedperiods for FRASER 119.5 120. 6 119.7 119.4 117. 9 Materials . . . . By industry groupings: Manufacturing Durable manufactures Nondurable manufactures 1967 = 100 4 2 1 9 6 ioe' 9 88 0 r 102 1 T 105 3 r 109 3 109 1 T T T T r HO 2 r 87 9 T 91 5 108 () 121 8 134 8 113 6 91 o T 101 Q r 10^ 4 106 7 r 102 9 r 107 2 ' 93. 5 " 99. 1 r H8 7 108 6 101.7 118 5 r 124. 9 114.5 105 118 102 109 7 4 0 4 2 3 5 6 4 r 101 6 110 8 110 9 r 99 2 106 0 101.7 H9 1 108 3 102.7 116 3 r 1Q9 2 T HQ Q 117 0 120 7 r 121. 9 r 123. Q T in 9 94 9 r 100 2 r 87 1 99 7 "93.2 r 123 5 r 197 9 r HO 9 tive with the September Survey the industrial production index comparison base has been updated from the 1957-59 average to the single year 1967. All revisions have been carried back in detail to 1954. Historical data are available upon request from the Board of Governors of the Federal Reserve System, Washington, D.C. SURVEY OF CURRENT BUSINESS S-4 1969 P [ 1970 P Unless otherwise stated in footnotes below, data through 1968 and descriptive notes areas shown in the 1969 edition of BUSINESS STATISTICS Annual November 1971 1970 Sept. Oct. 1971 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 1 Oct.p GENERAL BUSINESS INDICATORS—Continued INDUSTRIAL PRODUCTION^— Continued Federal Reserve Index of Quantity Output—Con. Seasonallv adjusted, total indexed By market groupings :<? Products total Final products Consumer goods .. 106.7 106.5 103.7 102.6 104.6 105.3 105.7 105.5 106.2 107.0 107.2 109.7 109.0 111.1 106.0 104. 4 110.3 105.2 103.5 110.1 103.6 101.4 109.0 102.6 100.2 107.7 104.2 102.2 110.8 104.6 102.9 112.8 105.0 103. 0 112.9 104.5 102.5 112.7 105.5 103.6 114.6 105.9 103.9 115.7 106.1 r 106. 8 104.5 r 104. 9 116.1 '116.0 ' 106. 4 ' 108. 7 ' 105. 1 ' 105. 4 ' 116. 1 ' 116. 3 106.9 105.4 116.5 do_. do do do 113.7 117.4 111.4 128.9 104.8 99.9 86.6 125.6 102.2 91.1 70.4 130.9 97.1 77.6 51.1 128.7 95.5 76.0 51.8 122.3 102.9 110.0 88.6 122.2 108.1 110.9 104.1 124.1 110.6 117.8 112.8 127.4 111.6 117.8 112.2 128.6 112.2 113.7 103.2 133.9 117.2 123.1 108.3 151.4 116.1 '115.8 '115.8 ' 114. 4 121.2 120.1 ' 121. 1 ' 122. 9 108.0 107.9 107.9 108.5 146.8 143.6 ' 145. 2 '151.6 115.7 123.0 107.8 152.1 do.. . do do 111.6 107.7 115.7 107.6 103.4 108.4 108.6 106.7 108.6 108.3 109.8 108.8 106.6 107.6 108.6 104.6 104.5 106.3 106.5 104.9 106.4 106.5 102.5 110.1 108. 2 107.9 108.3 111.4 116.4 110.7 113.9 120.7 113.3 ' 113. 5 '112.9 ' 109. 8 116.9 115-0 ' 112. 1 105.7 113.6 ' 114.8 ' 114. 7 '113.0 ~ll4.~9~ 110.1 105.6 111.4 107.3 115.6 112.5 101.2 115.4 110.6 120.4 113.0 110.5 116.4 110.6 122.6 113.5 100.0 117.2 111.9 122.9 112.3 96.3 116.6 112.5 120.9 113.8 99.1 117.7 112.8 122.9 114.6 99.7 118.5 114.0 123.2 113.8 97.3 118.1 112.6 123.9 113.1 96.9 117.4 111.8 123.2 115.5 101.0 119.4 112.7 126.4 115.1 102.6 118.5 113.2 124.2 r 116. 1 106.1 107.9 103. 6 106. 3 99.3 96.2 101.1 98.8 95.9 91.9 94.2 100.5 98.0 91.5 91.8 90.8 95.9 94.6 91.7 86.7 89.8 94.6 93.9 93.3 84.6 90.3 95.6 94.0 93.6 84.2 88.9 94.2 91.5 90.6 82.9 89.3 96.0 93.4 94.3 82.2 88.4 95.0 92.4 92.4 81.3 88.1 95.1 92.4 91.2 82. 1 87.8 94.4 90.9 91.5 79.5 88.2 95.0 90.9 88.8 80.1 112.8 114.4 113.6 103.7 110.6 94.4 103.4 110.0 92.5 97.1 108.2 79.8 95.6 106.0 77.5 97.9 105.3 87.4 97.2 105.5 88.6 99.0 107.0 89.1 98.0 106.6 87.2 98.2 107.1 87.3 98.4 107.6 87.3 Home goods 9 - - - -Appliances TV, and radios Carpeting and furniture Nondurable consumer goods do Clothing do Consumer staples . , -do .. Consumer foods and tobacco. . .do Nonfood staples do Equipment do Business equipment do Industrial equipment 9 - do Building and mining equipment-do Manufacturing equipment do Commercial, transit, farm eq 9 do Commercial equipment ..do. _ . Transit equipment do m.7 do 103.2 87.9 83.9 82.6 81.7 81.2 80.0 78.1 77.5 76.5 76.9 do do do 112.0 113.0 111.2 111.9 110.6 113.0 111.4 110.0 112.8 111.9 111.5 112.1 111.6 110.4 112.4 112.1 112. 5 111.9 110.9 111.1 110.8 112.5 111.9 113.1 112.0 112.6 111.4 112.4 113.4 111.6 113.5 115.5 111.9 Materials do Durable goods materials 9 do . Consumer durable parts . ... .do.. Equipment parts do Nondurable goods materials 9 ..do Textile, paper, and chem. materials. .do Fuel and power, industrial - - - do 112.4 112.2 112.2 105. 9 112.8 116.3 111.7 107.8 103.4 96.5 95.1 112. 5 113. 0 117.0 109.0 105.1 101.7 93.7 112.9 113.2 119. 7 104.1 96.2 80.4 88.0 113.4 112.6 118.2 102.8 93.6 76.9 86.6 113.3 112.6 117.8 105.4 99.4 95.8 86.6 112.1 111.8 117.6 106.5 101.5 99.4 88.4 111.7 111.2 117.8 106.8 101.6 101.4 87.6 112.1 111.7 118.6 107.1 101.9 103.2 86.4 112.0 111.9 121.1 107.5 102.2 102.8 86.0 112.7 113.2 121.0 108.9 104.8 105.1 88.9 112.8 113.7 119.7 By industry groupings.'c? Manufacturing, total _ _. _. .do.. _ D urable manufactures _ ... - . do . . Primary and fabricated metals do Primary metals do Iron and steel. . _.do._ Nonferrous metals do Fabricated metal products - do 110.5 110.0 113.8 114.1 113. 0 116.0 113.6 105. 2 101.5 108.1 106.9 105. 3 109.8 109.4 104.8 100.7 108.9 108.8 108.2 111.1 109.0 101.4 95.7 104.2 102.5 102.4 103.3 106.3 110.2 93. 8 101. 2 98.4 95.6 104.8 104.5 102.4 97.3 105.1 104.3 101.4 112.fi 106.2 103.3 98.1 106.8 108.1 106.9 111.2 105.4 103.9 98. 6 106.0 105.5 104.8 107.7 106.6 103.2 98.3 105. 8 106.6 105. 2 109. 8 104.9 104.4 99. 1 108.6 108.7 109. 1 108.2 108.5 105.7 100.5 111.5 114.3 112.9 115.8 108.5 108.2 106.8 106.0 107.7 97 6 100.5 99.6 101.4 96.2 100.4 99.8 101.1 89.9 96.5 95.6 97.5 88.4 94.9 93.2 96.7 92.4 94.8 92.4 97.4 93.0 93.4 90.1 97.1 93. 5 94.2 92.3 96. 3 93.0 94.0 91.1 97.1 92.7 94.2 91.4 97.4 107.6 115. 4 100.2 116.1 90. 3 96.9 83.9 110.8 87.5 94.6 81.0 108.9 73.8 68.6 78.8 107.3 71.7 65.4 78.0 106.5 86.8 98.5 75.8 104. 9 91.1 107.7 75.2 106.5 92.6 113.0 72.9 105.3 91.3 112. 2 71.2 105.5 111. 1 108.6 112.5 106.3 106.3 106.3 105.6 107.2 104.8 105.3 106.8 104.5 105.0 106.4 104.1 107.5 106.8 107. 9 106.9 109. 7 105.3 109.8 110.8 109. 2 i 111.6 107.4 115.5 108.8 99.4 117.3 109.4 99. 3 118.5 108.7 100.1 116.7 105.7 96.5 114.0 104.9 95.5 113.4 105.2 94.2 115.2 do .. do do do do 111.1 105.9 113.2 102.5 96.0 110.fi 100.2 106. 3 97.8 90.8 110.7 99.1 105.2 96. 8 90.2 109.7 98.7 104.1 96.9 89.6 109.6 96.0 102.8 93.4 85.0 110.0 97.1 103.3 94 9 86.7 Paper and printing Paper and products Printing and publishing do do do 109.1 114.2 105.7 107.8 113.3 104.1 106.1 106. 7 109.8 i 111.9 102. 3 104.5 106.4 113. 3 101.9 Chemicals, petroleum, and rubber Chemicals and products do do. .. 118.4 120.4 108.4 119.5 118.2 120.2 112.6 115.7 119.1 121.5 112.9 115. 9 117.2 120.3 113. 2 110.0 107. 5 108.3 96.8 110.8 111.7 100.0 112.0 113.1 100.5 112.7 107.2 124.8 102.8 106.1 101.1 106.9 104.8 118.0 109.7 131.3 98.8 109.2 105.8 109.7 109.4 121. 1 110.9 130.5 96.2 111.3 109.7 111.5 112.3 Defense and space equipment Intermediate products Construction products Misc. intermediate products Machinery and allied goods 9 Machinery _ _ .. Nonelectrical machinery Electrical machinery do . .do ..do do Transportation equipment. . - ..do _ Motor vehicles and parts do Aerospace and misc. trans, eq do Instruments _. . . _ - . do Lumber, clay, and glass Lumber and products Clay, glass, and stone products do do do Furniture and miscellaneous . . do . Furniture and fixtures do Miscellaneous manufactures .. do. Nondurable manufactures Textiles, apparel, and leather Textile mill products Apparel products Leather products Rubber and plastics products Mining and utilities Mining Metal mining Stone and earth minerals Coal, oil and gas Coal Oil and gas extraction Crude oil _ . . - do do do ..do do do do do do do do do I ••116.1 i 101.9 r 102. 4 119.9 '119.8 113.5 112.0 126.5 ' 128. 0 ' 116. 2 '117.0 100.7 ' 120. 3 120.9 ' 112.6 ' 112. 7 ' 128. 3 ' 129. 4 111.6 116.8 120.5 111.9 129.7 '90.1 '97.6 '92.6 '96.0 '81.2 89.9 98.0 92.8 96.5 82.2 99.6 101.5 ' 102. 2 ' 103. 3 107.6 ' 109. 9 ' 109. 9 ' 111.5 90.5 88.4 '90.2 ' 92. 0 103.9 113.4 92.5 '77.6 76.6 89.3 '96.3 '91.8 88.9 '81.1 77.1 77.7 112.4 '113.8 113.5 ' 115. 3 111.6 ' 112. 7 109.0 ' 105. 3 103.0 '98.7 1018 98.8 87.1 87.0 115.5 ' 112.3 117.5 113.4 121.1 119.7 89.8 96.9 92.3 96.4 80.2 '77.9 '110.9 ' 111.5 112.5 ' 109. 4 ' 110. 9 112.3 112.1 ! ' 112.2 ' 94. 2 ' 100. 4 '82.2 ' 114. 0 ' 116.9 ' 117.4 ' 105. 1 '97.7 ' 99. 8 '86.0 ' 113. 6 ' 117.1 118.4 105.3 101.0 103.6 88.8 112.8 116.5 99. 0 ' 103. 6 ' 96. 6 '92.6 '78.8 '66.2 ' 100. 9 ' 108. 0 ' 104. 0 '97.5 '96.3 '88.2 '80.0 107.0 ' 105. 2 104.9 99.1 100.5 95.4 89.2 93.8 95.3 90.9 100.2 105. 6 ' 104. 9 100. 1 '99.4 108.3 ' 104. 2 108.1 '98.2 105.3 '99.0 111.3 '96.0 108.5 110.8 94.4 '94.7 95.2 97.4 91.6 94.9 99.2 100. 2 '94.9 '96.0 '94.7 ! ' 97. 4 '95.1 ' 96. 7 ' 95. 9 '97.5 95.9 97.4 96.5 98.5 89.5 108.4 71.4 106.7 90.9 110.2 72.3 108.0 91.7 111.7 72.4 108.5 92.1 '91.7 '91.1 ' 112.8 ' 114. 1 114.1 70.9 '71.5 '70.0 112.2 ' 109. 1 ' 109. 6 110.8 110. 3 111.1 113.0 112. 5 113.3 112.3 110.0 113.7 107.1 96.0 117.2 105.6 95.0 115. 4 109.5 98.7 119.3 109.9 97.6 121.2 111.0 '111.2 '110.4 111.0 115. 4 ! ' 113. 1 111. 1 ' 108. 7 j ' 108. 8 111.3 ' 113. 5 ' 112. 4 100.9 99.9 ' 99. 6 120.7 ' 126. 1 ' 124. 0 110.9 98.6 103.1 97.4 89.5 111.7 98. 0 105.4 94.5 89.0 110. 4 97.3 105.3 94. 0 85.4 112.1 99.8 106.3 97.3 89.9 105.0 110.6 101.2 107.1 116.9 100.5 108.1 116.0 102.8 104.6 111.0 100. 2 117.8 119. 7 116. 9 111.4 118. 9 121.2 118.1 111.8 118.2 119. 3 117.2 115.5 120.9 111." 117. 1 120.6 111.7 112.3 104.4 111.9 112.7 102.3 112.5 113.5 99.5 113.9 114.6 106.6 121.9 112.4 134.3 98.6 112. 3 108.7 112. 9 114.5 120.6 113.7 148.5 98.4 112. 6 107.9 113.4 114.7 120. 1 112.1 144.7 97.3 111.0 103.6 112.3 113.1 119.3 111.1 140.1 95.6 110.6 i 112. 3 110.3 111.1 129. 6 Utilities . do 134. 0 133.9 119.5 128.5 131.9 Electric do 137.6 121.2 137.5 130.8 122. 1 Gas do 121.9 i 114. 0 121. 7 121. 0 r Revised. * Preliminary. d*See correspond!ng note 01i p. S-3. 9 Includes data for items not shown separately, fMfg. a nd trade s ales, tot al and re tail sales for periods prior to Sept. 1970 are undergoing revision anci will be s hown lat er. Mfg. imd trade inventories, total and retail inventories, also u ndergoing revision, will be shown in the http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 106.3 110.7 do . - - do . .. do Durable consumer goods Automotive products ... Autos Auto parts and allied goods Foods and tobacco Foods. . . Tobacco products, . . . 106.1 ' 105- 3 ' 106. 1 .. 1967= 100. . 88.5 106.7 71.0 ' 110. 9! r 103. 3 106.3 ' 110. 0 113.2 108.1 110.6 ' 110. 5 98.7 121.3 112.6 113.3 101.5 107.5 99.7 89.8 113.7 113.0 ' 113. 5 '113.5 102.4 ' 100. 2 ' 99. 8 ' 100. 9 113.2 108.5 ' 109. 0 109.5 96.6 97.1 '97.0 87.6 84.1 89.3 86.7 113.4 101.7 106. 9 114.4 101.8 106.9 115.1 101.4 106.0 113.4 101.0 ' 106. 8 ' 108. 2 ' 108. 3 116.8 '115.5 ' 117.8 ' 101.0 '101.7 ' 102. 6 107.7 120. 5 121. 0 116.3 122.7 122.4 123.4 115.8 124. 5 124.2 123.7 112 7 135.4 125.3 126.8 115.0 129. 1 124. 0 ' 125. 3 ' 124. 8 125.0 ' 126. 7 ' 127. 0 114.1 115.0 114.8 125.1 128.0 ' 129. 0 124.7 127.0 113.1 114. 1 100.1 112.2 i 113. 8 90.3 112. 9 114.1 96.9 113.6 114.6 100.3 113.7 '113.8 ' 113. 1 '113.0 115.4 ' 115. 2 ' 114. 1 ' 114.0 92.1 96.6 119.9 110.1 139.0 i 96.3 109. 3 108.8 1 109. 3 ! 110. 1 120. 2 111.4 135. 1 95. 6 111.4 116.2 110. 6 112.7 120.6 110.4 124. 7 94.2 111.4 115.5 110.8 111.9 119.0 108.6 122.6 92.4 109.6 110.2 109.6 109.5 119.7 120.7 ' 120. 3 108. 9 ' 105. 7 ' 106. 0 100.7 117.3 '93.5 96.4 90.2 '89.2 109. 9 ' 109. 2 ' 109. 0 109.4 ' 109. 4 109. 4 109.2 ' 108. 9 110.0 109.8 ' 108. 0 ' 107. 1 102.0 112. 4 113.4 ' 121. 4 116.3 ' 106. 3 97.8 108.0 87.0 ' 109. 0 "~96.~8 28.5 ' 109. 5 107.6 ' 108. 9 104.8 106.2 133. 2 132. 1 1 135. 6 ' 138. 7 ' 136. 9 ' 140. 5 139.7 132. 2 1 131. 5 130.2 129.6 142.7 138.3 ' 142. 0 ' 139. 7 r 144. 0 135.5 133.8 132.5 131.5 i 134.9 i 133. 6 122.4 123.6 124.3 123.0 Dec. 1971 Su RVEY, al ong witl i cor -esponding revisions in the inventory-sales ratios serie (1961 -June If 70 data 1 or ratios for mfg., total, durable, and nondurable a:e available upoi requ est). See also con espondii ig note on p. S-7 and note marked "i" on p. S-ll. SURVEY OF CURRENT BUSINESS November 1971 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1970 1969 Annual S-5 1971 1970 Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June Aug. July Sept. Oct. GENERAL BUSINESS INDICATORS—Continued BUSINESS SALES § Vlf0' and trade sales (unadj ) total t '109,502 mil $ Mfg. and trade sales (seas adj.), total f Manufacturing, total f Durable goods industries Nondurable goods industries do do do Retail trade, total t Durable goods stores Nondurable goods stores do do do Merchant wholesalers, total _ _._ Durable goods establishments Nondurable goods establishments _ do_ do do '110,070 '104,596 '113,134 '99,993 '104,542 '113,995 '114,346 '114,961 '120,859 '110,405 '113,309 117, 243 '107,738 '105,610 '104,485 '106,943 '109,346 '111,166 '112,740 '113,155 '114,303 '115,531 '114,727 '115,064 115, 084 do i 643, 545 354, 465 289, 080 1 653, 145 352, 189 300, 956 1236,708 i 246, 643 109, 578 111,778 127, 130 134, 865 55, 073 29, 900 25, 173 53, 235 28, 152 25, 083 52, 562 27, 680 24, 882 54, 464 29, 185 25, 279 55, 718 30, 166 25, 552 56, 982 30, 856 26, 126 57, 790 31,616 26, 174 57, 680 31, 308 26, 372 58, 352 31, 850 26, 502 58, 988 32, 650 26, 338 '58,418 '32,123 26, 295 '57,804 '31,464 '26,340 57,464 31, 202 26, 262 '31,951 9, 872 22, 079 ^31,621 9,418 22, 203 '31,282 8,858 22, 424 '31,761 9, 185 22, 576 '32,290 10, 003 22, 287 '32,850 10, 240 22, 610 '33,274 10, 613 22, 661 '33,578 10, 747 22, 831 '33,502 10, 576 22 926 '33,827 10, 782 23,045 '33,688 10, 747 22, 941 '34,655 '11,298 '23,357 35, 155 11, 793 23, 362 20, 714 9, 435 11, 279 20,754 9, 410 11,344 20, 641 9, 273 11,368 20, 718 9, 226 11,492 21, 338 9, 430 11, 908 21,334 9, 458 11,876 21,676 9, 736 11,940 21, 897 9,887 12, 010 22, 449 10,350 12, 099 22, 716 10, 510 12, 206 22, 621 10, 365 12, 256 '22,605 '10,471 '12,134 22, 465 10,375 12, 090 BUSINESS INVENTORIES § Vlfg. and trade inventories, book value, end of year or m o n t h (unadj ) total f mil $ 164,290 170,300 Vf fg. and trade inventories, book value, end of year m or month (seas adj ) total t il $ 165, 659 171, 998 170,956 171, 168 171, 768 171,998 172, 508 172, 840 173, 706 174, 194 174, 933 175, 252 175, 560 '176,045 176, 836 168,946 171, 120 173, 107 170, 300 171, 263 172, 791 174, 920 176,115 176, 535 175, 554 174, 658 '173,960 175, 139 99, 576 100, 282 100, 927 100, 476 100, 878 100, 602 100, 502 100, 420 100, 647 100, 536 100, 194 '100,063 100, 211 64, 965 65, 218 65, 517 65, 152 65, 308 65, 090 65, 082 65, 033 65, 079 64, 825 64, 692 '64,523 64, 498 34,611 35, 064 35, 410 35, 324 35, 570 35, 512 35, 420 35, 387 35, 568 35,711 35, 502 '35,540 35, 713 45, 691 44, 883 44, 507 44, 918 44, 984 45, 432 46, 416 46, 728 47, 146 47, 3S3 47, 500 48, 187 48, 798 20, 270 19, 291 18, 542 19, 040 18, 987 19, 480 20, 131 20, 232 20, 716 20, 815 20, 879 21, 450 21,983 25, 421 25 592 25, 965 25, 878 25, 997 25, 952 26, 285 26, 496 26, 430 26, 568 26, 621 26, 737 26, 815 25, 689 26,003 26334 26, 604 26, 646 26,806 26, 788 27, 046 27, 140 27, 333 27 866 '27,795 27, 827 1 5, 275 15,369 15,451 15, 565 15, 653 15,840 15,780 16, 025 16, 128 16, 197 16 581 '16,526 16, 730 10,414 10,634 10,883 11,039 10,993 10,966 11,008 11, 021 11,012 11, 136 11, 285 '11,269 11, 097 96, 673 63, 160 33, 513 44, 623 19, 980 24 643 24, 363 14, 579 9,784 100, 476 65, 152 35, 324 44, 918 19, 040 25, 878 26, 604 15, 565 11,039 do do do do do 1.75 2.07 .61 .96 .50 1.82 2. 20 .64 1.00 .55 1.81 2.17 .63 . 99 .55 1.88 2.32 .67 1.05 .59 1.92 2.37 .69 1 07 .61 1.84 2.23 .65 1.00 .58 1.81 2.16 .63 .97 .56 1.77 2.11 .62 .94 .55 1.74 2.06 .60 .91 .55 1.74 2.08 .62 .91 .55 1.72 2.04 .61 .90 .53 1.70 1.99 .60 .87 .51 1.72 '2 01 '.62 88 52 '1.73 '2.05 .63 '. 90 .53 1.74 2.07 .62 .91 .53 do do do do 1.38 .52 21 .63 1.37 .50 .20 .66 1.37 .50 .20 68 1.40 .51 .20 .69 1.42 .52 .21 70 1.40 .52 .20 .68 1.39 .51 20 .68 1.36 .50 .19 .67 1.35 .49 .19 .67 1.34 .49 .19 .66 1.34 .49 .19 .66 1.36 .50 .20 .66 1.35 49 .20 66 '1.35 '.49 '. 19 .66 1.36 .50 .20 .66 1.19 1.53 .89 1.23 1.61 .92 1.24 1.62 92 1.25 1.63 .94 1.28 1.67 . 96 1.28 1.69 .96 1.25 1.66 .92 1.26 1.67 .92 1.24 1.62 .92 1.24 1.62 .92 1.21 1.56 .91 1.20 1.54 .91 1.23 1.60 .92 1.23 1.58 .93 1.24 1.61 .92 17, 189 20, 122 1,750 1 770 1 675 1 668 1,529 1 523 1,785 1 621 1,550 1,644 1,838 1, 894 2,017 1 898 1,708 1,681 1,803 1,741 1, 752 1,706 1,521 1,707 1, 714 ' 1, 893 1,949 1,977 Manufacturing, total t Durable goods industries Nondurable goods industries do do do Retail trade, total f t Durable goods stores Nondurable goods stores Merchant wholesalers, total Durable goods establishments Nondurable goods establishments do do do do do do BUSINESS INVENTORY-SALES RATIOS Manufacturing and trade total f ratio Manufacturing, total t.. . _ Durable goods industries t Materials and supplies Work in process Finished goods , Nondurable goods industries f Materials and supplies Work in process Finished goods Retail trade, total H Durable goods stores Nondurable goods stores do do do Merchant wholesalers, totaldo Durable goods establishments _ do Nondurable goods establishments. do MANUFACTURERS' SALES, INVENTORIES, AND ORDERS Manufacturers' export sales: Durable goods industries: Unadjusted, total. . mil $ Seasonally adj., total do hipments (not seas, adj.), total f _ Durable goods industries, total 9 Stone, clay, and glass products Primary metals Blast furnaces, steel mills Fabricated metal products Machinery, except electrical Electrical machinery Transportation equipment. Motor vehicles and parts Instruments and related products Nondurable goods industries, total 9- Food and kindred products _ Tobacco products Textile mill products Paper and allied products Chemicals and allied products Petroleum and coal products Rubber and plastics products . hipments (seas, adj.), total f By industry group: Durable goods industries, total 9 Stone, clay, and glass products Primary metals Blast furnaces, steel mills Fabricated metal products Machinery, except electrical Electrical machinery. Transportation equipment Motor vehicles and parts Instruments and related products - do 643, 545 653, 145 57, 236 55, 415 52, 699 53, 006 51, 947 57, 410 59, 383 58, 379 58, 709 62, 142 53, 478 ' 56, 321 59, 874 do do do do 354, 465 17,074 55, 153 26, 343 352, 189 17, 746 55, 740 25, 733 30, 815 1,617 4,845 2,301 29, 133 1,600 4, 409 1, 951 27, 723 1,414 4, 169 1.836 28, 766 1,407 4,178 1, 950 27, 981 1,373 4, 511 2,200 31, 280 1,464 4, 918 2,385 32, 898 1,616 5,270 2,576 32, 003 1,754 5, 694 2,880 32, 536 1,772 5, 814 2,860 34, 949 1, 905 5, 810 3,000 28, 485 1,765 4, 923 2, 775 do do do do do do 39 579 55, 649 49, 123 87, 093 51, 524 11, 726 41 920 56, 135 50, 819 81, 173 45, 113 12, 153 3 735 4,807 4 672 6,714 3 815 1, 089 3 599 4 539 4 572 6,104 3 177 1, 020 3 435 4 336 4 516 5, 925 3 048 976 3 430 4 467 4 521 7,060 3 918 955 3 185 4,400 4 004 6, 913 4 474 870 3 492 4, 944 4 416 8,027 5 186 957 3 596 5,230 4 479 8,475 5 455 959 3 548 4, 956 4 218 7,554 4 895 960 3 623 4, 923 4 304 7,803 4 979 976 3 800 5,383 4 759 8,657 5 298 1,034 3,765 3,223 ' 3, 688 5,169 4,486 r 4, 680 4,808 4, 045 r 4, 400 5,852 ' 6, 443 ' 7, 626 5,207 3, 520 ' 3, 923 926 '984 1,071 do do do do 289, 080 93, 550 5,151 23, 112 300, 956 99, 767 5,464 22, 297 26, 421 8,885 482 1, 992 26, 282 8,814 469 2 026 24, 976 8,352 461 1 908 24, 240 8,286 493 1 827 23, 966 7, 975 437 26, 130 8, 497 450 26, 485 8,672 465 26, 376 8,570 463 26, 173 8,606 484 27, 193 8, 961 533 24, 993 ' 26, 612 27, 563 9, 223 8,470 ' 8, 720 519 506 513 do do do do 24, 057 48, 153 24, 412 15, 733 25, 192 48, 763 26, 604 17, 502 2 148 4, 212 2,223 1,482 2 167 4 072 2 242 1,484 2 068 3 889 2 232 1,367 2 024 3 642 2 348 1,273 2 007 3,850 2, 289 1,338 2 141 4, 305 2,373 1, 501 2 211 4 291 2, 275 1,563 2, 148 4,537 2, 323 1,618 2 153 4 454 2, 282 1,647 2 300 4, 549 2, 382 1, 690 2, 045 4,058 2,327 1,501 do 55 073 53 235 59 562 54 464 55 718 56 982 57 790 57 680 58 352 58 988 58 418 T do do do do 29, 900 1,475 4 895 2 409 28 152 1 461 4 450 2 062 27 680 1 444 4 316 2 002 29 185 1 551 4 439 2 124 30 166 1,617 4 624 2 202 30 856 1,587 4 780 2 327 31 616 1 659 5 014 2 401 31 308 1, 728 5 385 2 667 31 850 1 713 5 501 2 641 32, 650 1,762 5 404 2 750 32, 123 1, 793 5 312 2, 940 '31,464 '31,543 1,756 ' 1, 831 ' 3, 991 ' 4, 270 1,712 ' 1,457 do do do do do --do 3,617 4 682 4,355 6,761 3 830 990 3,466 4 505 4 376 5, 796 2 859 963 3 511 4 407 4 402 5, 617 2 803 926 3,582 4 440 4 497 6,726 3 890 900 3,507 4 908 4 380 7,142 4 442 984 3,458 4 748 4 369 7, 832 5 010 1,010 3,534 4 936 4 340 8,018 5 132 967 3, 459 4 794 4 348 7,340 4 730 1.007 3,591 4 855 4 501 7,388 4 576 1.007 ' Revised. 1 Based on data not seasonally adjusted. 2 Advance estimate; total mfrs. lipments for Sept. 1971 do not reflect revisions for selected components. §The term "busiess" here includes only manufacturing and trade; business inventories as shown on p. S-l }ver data for all types of producers, both farm and nonfarm. Unadjusted data for manufacturig are shown below and on p. S-6; those for wholesale and retail trade on pp. S-ll and S-12. r r 29, 709 '32,627 2 32, 859 ' 1, 944 1,925 ' 3, 843 ' 4, 237 2 4, 577 '1,410 1,635 2,280 4,653 2,349 1, 609 ' 2, 289 ' 4, 329 r 2, 320 ' 1, 624 57, 804 2 7, 792 57,464 3,437 ' 3, 679 3,550 4 937 ' 4, 983 5 015 4 434 ' 4, 513 4 476 8,011 ' 7, 749 ' 7, 915 ' 4 647 ' 5 195' 5, 303 ' 969 1.022 982 3,645 5,023 4,487 7, 620 5,111 974 2 31,403 2 4, 565 2 7, 154 tSee corresponding notes on pp. S-4; S-7, and note marked "t" on p. S-ll. tSe>3 corresponding note on p. S-12. 9 Includes data for items not shown separately. a Retail sales data are being revised; data for August, as well as revisions for earlier periods, will appear in the November SURVEY. SURVEY OF CURRENT BUSINESS S-6 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1969 1970 Annual November 1971 1970 Sept. Oct. 1971 Nov. Dec. Jan. Feb. Mar. Apr. 1 1 May June July 26, 295 ' 26,340 26, 262 8,739 ' 8, 683 8,637 502 491 488 Aug. Sept. Oct. GENERAL BUSINESS INDICATORS—Continued MANUFACTURERS' SALES, INVENTORIES, AND ORDERSf— Continued Shipments (seas, adj.) f— Continued By industry group: Nondurable goods industries, total 9 mil.$ Food and kindred products do Tobacco products do Textile mill products do Paper and allied products _ do Chemicals and allied products do Petroleum arid coal products do Rubber and plastics products do By market category: 163, 134 Home goods and apparel. do Consumer staples - _ do _. 1121,708 196, 846 Equipment and defense prod., excl. auto. do 160, 053 Automotive equipment do 151, 722 Construction materials and supplies do Other materials and supplies.. do __ 1250,082 Supplementary series: 126, 485 Household durables _ do 146, 051 Defense products (old series) . do 124, 511 Defense products (new series). , do 170, 093 Producers' capital goods industries. do Inventories, end of year or month :t Book value (unadjusted), total Durable goods industries, total Nondurable goods industries, total. 25,173 8, 335 467 1,868 2,067 4, 021 2, 189 1,470 25,083 8,363 479 1,856 2,071 3, 975 2,232 1,406 24,882 8,252 458 1,856 2,050 3, 976 2, 21!) 1,383 25,279 8,310 493 1, 920 2,073 4,033 2,347 1,357 25,552 8, 497 489 26,126 8,667 478 26,174 8,747 479 26,372 8,882 471 26,502 8, 795 471 26,338 8, 699 495 2,150 4,064 2,317 1,448 2,144 4,303 2, 398 1,484 2,173 4, 192 2,344 1,499 2,137 4, 290 2,368 1,538 2,171 4,315 2, 295 1,604 2, 219 4,363 2,287 1,582 161, 247 1128,970 199, 238 153, 590 153, 344 1256,756 5,301 10,781 8, 296 4, 509 4,536 21,650 5, 292 10,798 8,217 3,509 4,438 20,981 5,304 10,685 8,034 3,444 4,426 20,669 5,457 10,838 8,037 4,542 4,626 20,964 5,311 10,858 8,363 5, 042 4, 790 21,354 5, 340 11,182 8,273 5,623 4,776 21,788 5,489 11,290 8, 479 5,700 4, 941 21,891 5,516 11,431 8,217 5,283 5, 019 22,214 5, 583 11,274 8,555 5,136 5,116 22,688 5,437 11,286 9, 134 5, 226 5, 171 22,734 125, 713 146, 603 i 24, 308 171, 159 2,170 3, 897 2,121 5,947 2,174 4,016 2,184 5, 819 2,181 3,860 2, 036 5,815 2,263 3,877 2, 021 5,821 2,231 3,755 1, 913 6,125 2, 234 3,740 1, 898 6,054 2,379 3,771 1,887 6,181 2,435 3,594 1,825 5, 973 2,396 3,820 2,006 6, 203 2, 407 4,338 2, 589 6,396 101,112 100,956 65, 352 65,412 35, 760 35, 544 101,257 65, 649 35, 608 101,626 65, 790 35, 836 100,734 65,046 35, 688 2,187 4,330 2, 344 1,637 ' ' ' r 2, 270 2,193 4, 305 4,445 2, 293 2,310 1, 682 1,596 5,295 r 5, 322 5,229 11,218 ' 11,279 11, 254 8,336 ' 8, 484 8,347 5,749 ' 5, 889 5,707 5,170 5,154 ' 5, 334 22, 666 '21,496 21, 757 2,328 3,548 2,010 6,304 ' 2, 419 ' ' 3, 584 ' ' 2, 077 ' ' 6, 435 ' 2, 397 3, 431 1, 765 6, 652 22,359 23,495 21,782 26,709 do. .. do. _ do 96, 390 62, 838 33, 552 100,135 64, 781 35, 354 98,708 64, 497 34, 211 99,501 64, 696 34, 805 100,264 65, 013 35, 251 do 96, 673 100,476 99,576 100,282 100,927 100,476 100,878 100,602 100,502 100,420 100,647 100,536 100, 194 ' 100,063 100, 211 do do do do 63, 160 2,126 8,281 4,419 65, 152 2,278 9,139 4,854 64, 965 2,283 8, 987 4,800 65, 218 2,306 9, 114 4,866 65, 517 2,313 9, 233 4, 948 65, 152 2,278 9,139 4,854 65, 308 2,281 9, 443 5,102 65, 090 2, 263 9,487 5,117 65, 082 2, 267 9, 498 5,138 65, 033 2, 265 9, 333 5,040 65, 079 2,269 9, 236 4, 985 64, 825 2, 280 9, 170 4,815 64, 692 2, 293 8,821 4, 464 6,653 13, 203 9, 832 14, 682 4,081 2, 256 6,972 14, 072 10, 186 14, 133 4,115 2,417 6,949 13, 874 10, 239 14, 281 3,840 2,446 6, 941 13, 968 10, 303 14, 267 3,958 2,421 7,068 14, 026 10, 256 14, 297 4,041 2,412 6, 972 14, 072 10, 186 14, 133 4,115 2,417 7,061 13, 970 10, 022 14, 032 3, 994 2,421 7,072 13, 976 9, 968 13, 870 3, 981 2, 387 7,122 13, 932 10, 020 13, 813 3, 996 2,374 7,140 13, 879 10, 005 13, 942 4,076 2,365 7,283 13, 837 9, 930 14, 035 4,193 2,379 7,410 13, 854 9, 973 13, 668 4, 289 2,358 7,510 ' 7, 519 13, 831 ' 13,745 9, 920 ' 9, 885 13, 796 ' 13,570 4,233 '4,015 2,327 ' 2, 356 7,416 13, 692 9, 917 13, 482 3,858 2,362 do do do do 18, 678 3,002 6,171 3,343 19, 056 3,309 6,326 3, 251 18,825 3, 271 6, 297 3,115 18,869 3, 329 6,265 3,148 19,006 3,355 6,304 3,246 19,056 3, 309 6,326 3,251 19,109 3,389 6, 422 3,145 19,061 3,396 6,448 3, 086 18,996 3,373 6,431 3,037 19,359 3,358 6,504 3,164 19,570 3,330 6,495 3,285 19,696 3,420 6, 490 3,151 19, 932 ' 19,709 3,403 ' 3, 436 6,570 r 6, 496 3,166 '3,012 19,271 3,487 6,390 2,822 Work in process9 do Primary metals do Machinery (elec. and nonelec. )._ -do Transportation equipment do 28, 963 2, 909 10, 932 9, 869 29, 233 3,168 11,210 9, 406 29,622 3,117 11,256 9, 713 29,636 3,145 11,342 9, 670 29,665 3,204 11,301 9, 580 29,233 3,168 11,210 9, 406 29,254 3,315 10, 905 9, 430 28,944 3,277 10, 836 9, 326 28,811 3,213 10, 754 9, 338 28,594 3,166 10, 703 9, 343 28,547 3,126 10, 678 9, 333 28,329 3,068 10, 758 9, 112 28, 177 r 28,214 2,960 ' 3, 024 10, 605 ' 10,555 9, 243 r 9, 158 28, 539 3,115 10, 623 9,272 Finished goods 9 do Primary metals do Machinery (elec. and nonelec. ).. -do Transportation equipment do 15, 519 2, 370 5, 932 1,470 16, 863 2 662 6.722 1,476 16,518 2, 599 6,560 1,453 16,713 2,640 6,664 1, 449 16,846 2,674 6,677 1,471 16,863 2,662 6,722 1,476 16,945 2, 739 6,665 1,457 17,085 2, 814 6,660 1,458 17,275 2, 912 6,767 1,438 17,080 2, 809 6,677 1,435 16,962 2,780 6, 594 1,417 16,800 2,682 6, 579 1,405 16, 583 ' 16,600 16, 688 2,575 2,458 ' 2, 493 6,576 ' 6, 579 6,596 1,388 1,387 '1,400 Nondurable goods industries, total 9 _ . do Food and kindred products do Tobacco products do Textile mill products do Paper and allied products do Chemicals and allied products do Petroleum and coal products do Rubber and plastics products do By stage of fabrication: Materials and supplies do Work in process do Finished goods do 33, 513 8,230 2,208 3,655 2,588 6,153 2, 150 2,066 35, 324 8,765 2, 191 3,398 2, 769 6,758 2,418 2,165 34,611 8, 329 2, 179 3,471 2, 719 6,604 2,336 2,115 35, 064 8, 593 2, 195 3,516 2,704 6,654 2,367 2, 133 35, 410 8,781 2,221 3,461 2,732 6,726 2,455 2, 154 35, 324 8,765 2,191 3, 398 2, 769 6,758 2,418 2,165 35, 570 8, 932 2,207 35, 512 8, 879 2,265 35, 420 8,858 2,215 35, 387 8,756 2,214 35, 568 8,894 2, 190 35,711 8, 966 2, 180 35, 502 ' 35,540 8,791 ' 8, 818 2, 142 ' 2, 129 2,756 6,725 2,407 2,132 2,734 6,750 2,381 2,123 2,718 6,746 2,348 2,147 2,725 6,745 2,351 2, 142 2,738 6, 799 2,375 2,131 2, 731 6,808 2,402 2, 131 12, 583 5,135 15, 795 13, 026 5,055 17, 243 12,524 5,074 17,013 12,718 5, 119 17,227 12,874 5,141 17,395 13,026 5,055 17,243 13,024 5,116 17,430 13,013 5,090 17,409 12,897 5, 092 17,431 12,927 5,090 17,370 12,918 5,155 17,495 13,058 5,143 17,510 12, 989 ' 13,027 5,144 ' 5, 108 17, 369 ' 17,405 10, 221 ¥>• 809 25, 688 5,244 7, 559 35, 152 10, 492 13, 450 26, 056 5, 288 7,817 37, 373 10,400 13,153 26,311 5, 007 7,811 36,894 10,510 13,311 26,220 5,155 7,843 37,243 10,487 13,487 26,173 5,227 7, 970 37,583 10,492 13,450 26,056 5, 288 7,817 37,373 10,512 13,666 26,081 5, 149 7,883 37,587 10,476 13,673 25,961 5,124 7,888 37,480 10,498 13,634 25,868 5, 127 7, 934 37,441 10,518 13,593 25,881 5, 214 7, 933 37,281 10.561 13^723 25^808 5, 322 7,973 37,260 10,628 13,774 25,371 5,428 8,025 37,310 10, 660 13, 599 25, 479 5, 396 8,085 36, 975 4,777 13, 088 7, 459 16, 219 4,914 12, 034 6, 493 17, 569 4,854 12,633 6,986 17,271 4,909 12,380 6,803 17,434 4,900 12,259 6,675 17,523 4, 914 12,034 6,493 17,569 4,818 12,122 6, 189 17,446 4, 790 12,021 6,020 17,415 4, 824 11,937 6,008 17,381 4,829 11,922 6,108 17,438 4,850 11,805 6,067 17,440 4.895 11,273 5,507 17,507 4,910 4,935 4,917 11, 308 ' 11,191 11,279 5,488 ' 5, 282 5,408 17, 546 ' 17,501 17,487 New orders, net (not seas, adj.), totalf--- ...do. .. 645,216 Durable goods industries, total do 356, 177 Nondurable goods industries, total do 289, 039 646,388 345, 332 301, 056 56,093 29, 645 26, 448 54,151 27, 769 26, 382 52,144 27, 138 25, 006 54,075 29, 823 24, 252 53,516 29, 551 23, 965 58,318 32, 167 26, 151 59,297 32, 761 26, 536 57,433 31, 032 26, 401 56,428 30, 280 26, 148 60,001 32, 805 27, 196 53, 835 ' 56,453 59,648 2 28, 834 ' 29,916 -32,432 ~ ~32~49i 25, 001 ' 26,537 27,459 do 1645,216 1646,388 53,567 51,951 52,463 55,468 57,255 57,165 57,699 56,597 57,028 57,009 '58,255 ' 58,085 do do do 356, 177 56, 332 27, 099 345, 332 55, 031 25, 696 28, 355 4,547 2, 224 26, 779 4,164 1, 939 27, 560 4,348 2, 005 30, 140 4,818 2, 549 31, 666 5,558 3,032 31, 071 5, 139 2,656 31,472 5,155 2, 494 30, 228 4,882 2, 290 30, 601 4,800 2, 079 30, 666 4,536 1, 945 do do do do__. do._- 39, 947 57, 921 49, 413 85, 113 24, 562 42, 555 54, 847 50, 629 76, 554 23, 284 3,644 4,517 4, 096 6,036 1, 769 3,494 4, 369 4,167 5,072 1, 396 3,464 4,431 4,416 5, 490 2,050 3, 975 4, 498 4,641 6, 689 2,063 3,468 4,854 4,250 7, 900 2,254 3,331 4,766 4,278 7, 957 1,537 3,576 4,985 4, 291 7,627 1,827 3, 419 4, 599 4,310 7,032 1,853 3, 532 4, 809 4, 409 6,958 1,623 3,462 5,122 4,333 7,065 1, 968 do do do___ 289, 039 77, 774 211, 265 301, 056 79, 840 221, 216 25, 212 6,635 18, 577 25, 172 6,660 18, 512 24, 903 6,573 18, 330 25, 328 6, 729 18, 599 25, 589 6,831 18, 758 26, 094 6,833 19, 261 26, 227 7,047 19, 180 26, 369 6, 913 19, 456 26, 427 6, 973 19, 454 26, 343 7,082 19, 261 Book value (seasonally adjusted), totalf By industry group: Durable goods industries, total 9 Stone, clay, and glass products. Primary metals. _ Blast furnaces, steel mills Fabricated metal products do Machinery, except electrical do Electrical machinery do Transportation equipment do _ Motor vehicles and parts do Instruments and related products.. do By stage of fabrication: Materials and supplies 9 Primary metals Machinery (elec. and nonelec ) Transportation equipment By market category: Home goods and apparel do Consumer staples ._ do Equip, and defense prod., excl. auto do Automotive equipment do Construction materials and supplies do Other materials and supplies... _ do Supplementary series: Household durables do Defense products (old series) do Defense products (new series). . do Producers' capital goods industries do New orders net (seas adi ) totalt By industry group: Durable goods industries, total 9 Primary metals Blast furnaces steel mills Fabricated metal products Machinery except electrical Electrical machinery Transportation equipment Aircraft, missiles, and parts Nondurable goods industries, total Industries with unfilled orders© Industries without unfilled orders^ 2 ' Revised. 1 Based on data not seasonally adjusted. Advance estimate ; total nifrs. new orders for Sept. 1971 do not reflect revisions fors elected co mponents fSe<i correspc nding note on p. S-7. 9 Includes data for items not shown se parately. 0Inc ludes tes tile mill products, leather and products, paper and allie d product s, and pri nting an d publishling FRASER Digitized for 100.135 100,977 64, 781 65, 133 35, 354 35, 844 99, 826 ' 99,754 64, 482 ' 64,426 35, 344 ' 35,328 2,744 6,786 2,397 2,153 r r 64,523 r 2, 302 r 8, 953 ' 4, 635 '2,711 ' 6, 729 '2,471 ' 2, 095 ' 10,726 ' 13,659 ' 25,372 ' 5, 198 [ ' 8, 200 ' 36,908 99, 324 64,024 35, 300 64, 498 2,299 9,177 4,834 35, 713 8,944 2,187 2, 719 6,688 2,460 2,052 13,081 5,210 17, 422 10, 790 13, 895 25,364 5,010 8,195 36, 957 56, 928 31, 955 '31,758 '31,026 4, 434 ' 4, 184 '4,517 2,030 ' 1, 701 2, 026 3,489 4,823 4,827 r 8, 082 2,404 2 31,06' 2 4, 59f r 3,520 3, 577 ' 5, 072 4, 935 ' 4, 584 4,648 ' 7, 923 ' 7, 130 ~~2"6,~78f 1, 299 1, 985 26, 300 ' 26,327 26, 169 7,022 ' 7, 201 6, 991 19, 278 ' 19,126 19, 178 indus tries; unf illed ord ers for ot ier nond urable g Dods indListries ar e zero, IfFc >r these i ndustrie 5 (food atid kindr 3d produ cts, toba ceo proc ucts, ap]Darel am [ related produ cts, petn>leum an d coal pr ^ducts, c liemicals and allie d products,andriibber anc . plastics produ cts) sales are con sidered e ;}ual to n ew order s. SURVEY OF CURRENT BUSINESS November 1971 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1969 1970 Annual S-7 1971 1970 Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. GENERAL BUSINESS INDICATORS—Continued MANUFACTURERS' SALES, INVENTORIES, AND ORDERSf-ContinuetJ New orders, net (seas. adj. )f— Continued By market category: Home goods and apparel Consumer staples Equip, and defense prod., excl. auto Automotive equipment Construction materials and supplies Other materials and supplies _ . Supplementary series: Household durables . Defense products (old series) Defense products (new series) ... Producers' capital goods industries mil $ do do do do do 2 62,977 2 121,670 2 97,232 2 2 61, 236 2128,981 2 95,944 2 60,314 52,909 2 51,860 2 53,871 2251,163 2253,447 5,288 10,777 7,523 4,447 4,627 20,905 5,258 10,809 7, 828 3,484 4,522 20,050 5, 315 10,690 8,021 3,322 4,381 20,734 5,481 10,836 8,352 4,546 4,988 21,265 5, 314 10,872 8, 954 5, 068 4,783 22,264 5,316 11,175 8,552 5,652 4,606 21,864 5,531 11,303 8,163 5, 762 5,020 21,920 5,516 11,440 8,013 5,228 4, 952 21,448 5,682 11,273 8,037 5, 234 5,066 21,736 5, 365 11,266 8, 298 5,184 5,077 21,819 5,360 ' 5, 361 5,239 11,223 rll,282 11, 242 8,871 ' 8, 509 7,797 ' 5, 781 ' 5, 863 5,746 5, 306 ' 5, 209 5,012 21,714 r 21,861 21, 892 2 26,360 2 43,279 2 23, 118 2 2 25,740 2 42,865 2 23, 455 2 69,530 2,173 3,186 2, 005 5,614 2, 133 3,120 2,125 5,843 2,193 3,814 2,016 5,-871 2,294 3,970 2,051 5, 925 2,240 3,848 2,170 6,442 2, 199 3,247 2,357 6,617 2,421 3,275 1,580 6,219 2,433 3,496 1,500 5,677 2,483 3,233 1, 573 6,193 2,338 3,628 1,678 6, 237 87, 025 84, 120 2, 905 80, 268 77, 263 3,005 81,018 78, 155 2,863 79,754 76, 791 2, 963 79,199 76, 206 2, 993 80,268 77, 263 3,005 81,837 78, 833 3,004 82, 745 79, 720 3, 025 82,659 79, 583 3,076 81,713 78, 612 3,101 79, 432 76, 356 3,076 77,294 74,211 3,083 77,646 f' 77,773 77, 547 74,559 74,763 ' 74,568 i 74,198 3,087 '3,010 2,906 87, 320 80, 527 80,906 79,622 79,523 80,527 82,064 82,247 82,156 81,073 79,749 77,775 77,615 ' 77,898 84, 379 7,408 3,776 77, 485 6,687 3,727 78, 023 6,562 3, 422 76, 650 6,276 3, 299 76, 530 6,308 3,302 77, 485 6,687 3,727 78, 985 7,621 4,557 79,200 7, 980 4,886 79, 056 8,121 4, 979 77, 976 7,618 4, 602 76, 727 6,917 4,040 74, 748 6,049 3,235 74,584 ' 74,879 ' 74,362 174,026 5,173 ' 5, 366 '5,612 i 5, 644 2, 325 ' 2, 569 2,883 do _ _ do do do do 10, 596 15, 815 14, 681 30, 055 23, 382 11,218 14, 505 14, 469 25, 490 19, 504 10, 844 14, 559 14, 520 26, 378 20, 589 10, 872 14, 423 14, 311 25, 654 19, 708 10, 825 14, 447 14, 325 25, 527 19, 618 11,218 14, 505 14, 469 25, 490 19, 504 11,179 14,451 14, 339 26, 248 19, 710 11,052 14, 469 14, 248 26, 373 19, 108 11,094 14,518 14, 199 25, 982 18, 705 11,054 14, 323 14, 161 25, 674 18, 562 10, 995 14, 277 14, 069 25, 244 18, 044 10, 909 14, 385 13, 925 24, 297 17, 369 10,960 14,269 14,320 24,610 17,840 Nondur. goods ind. with unfilled orders©__do 2, 941 3,042 2,883 2,972 2, 993 3,042 3,079 3,047 3,100 3,097 3,022 3,027 3,031 1,987 47, 397 10, 237 27, 699 1,992 43, 409 10, 737 24, 389 1,977 43,639 10,336 24,954 1,954 43,225 10,420 24,023 1,970 43,090 10,375 24,088 1,992 43,409 10,737 24,389 2,009 44,026 10,730 25,299 1,978 44,334 10,560 25,375 2,033 44,080 10,639 25,404 2,042 43,821 10,572 24,638 2,140 43,401 10,522 23,686 1,603 29, 804 20, 372 24, 245 1,639 26, 078 19, 506 22, 574 1,637 26, 927 19, 554 22, 390 1,596 26,031 19, 496 22,414 1,608 25,985 19, 475 22,470 1,639 26,078 19, 506 22,574 1,648 26,171 19, 769 22,891 1,613 25,678 20, 227 23,454 1,655 25,182 19, 920 23,492 1,653 25,084 19, 595 23,196 274, 267 266, 086 21,501 22, 372 21, 452 21, 625 19, 178 22, 383 22, 699 22, 085 23, 372 22, 338 19,698 20, 923 25, 752 23, 220 9,154 1,159 1,590 1,493 4,070 842 10, 748 1,392 1,687 2,035 4,650 984 906 111 118 199 391 87 941 114 149 185 419 74 939 126 133 174 414 92 869 114 112 176 372 95 905 134 140 167 380 84 860 107 141 170 361 81 1,042 156 154 196 444 92 do do do . do Unfilled orders, end of year or mon th (unadjusted), total mil. $ Durable goods industries, total do Nondur goods hid. with unfilled orders© do Unfilled orders, end of year or month (seasonally adjusted), totalf mil $ By industry group: Durable goods industries, total 9 do Primary metals _ _ do Blast furnaces steel mills do Fabricated metal products _ Machinery, except electrical Electrical machinery Transportation equipment Aircraft missiles, and parts By market category: Home goods, apparel, consumer staples do Equip, and defense prod., incl. auto do Construction materials and supplies do Other materials and supplies do Supplementary series: Household durables . _ . _ do Defense products (old series) do Defense products (new series) do Producers' capital goods industries do 72,885 2,401 4,246 2, 900 6,146 ' 2, 457 ' 3, 634 'r 2, 154 6, 551 *r 2, 379 3, 018 r 1, 467 * 6, 425 i 2, 429 i 3, 208 i 1,961 16,812 77, 363 ' 10,859 10, 734 ' 14,360 14, 271 r 14,393 14, 552 'r 24,618 r 24,128 i 23,759 17,895 17,410 '3,019 2,926 2,048 42,525 10,430 22,772 2,120 ' 2, 163 43,091 ' 43,091 10,580 ' 10,456 21,824 ' 22,188 2,162 42, 579 10, 300 22, 322 1,740 24,497 19,122 23,186 1,672 23,787 18,211 23,028 1,747 ' 1, 786 ' 1, 769 i 1,838 24,486 r 24,535 ' 24,122 i 23,837 19, 101 ' 19,177 ' 18,880 i 19,060 22,867 r 22,986 r 22,759 i 22,862 24, 389 22, 770 23, 899 24, 168 26,266 24,691 24, 898 25, 073 989 126 159 167 440 97 912 139 134 171 385 83 935 137 118 199 410 71 786 106 109 156 340 75 BUSINESS INCORPORATIONS^ New incorporations (50 States and Dist. Col.): Unadjusted __ . number Seasonally adjusted© do INDUSTRIAL AND COMMERCIAL FAILURES d" Failures, total . number Commercial service _ _ do Construction do Manufacturing and mining do Retail trade do Wholesale trade do Liabilities (current), total Commercial service __ Construction Manufacturing and mining Retail trade Wholesale trade thous. $__ do do do do do 1,142,113 126, 537 171,717 406, 450 265, 122 172, 287 Failure annual rate (seasonally adjusted) No. per 10,000 concerns.. 237.3 23, 698 ^22, 831 25, 142 *23, 363 848 108 131 169 345 95 741 117 114 140 304 66 1,887,754 232, 940 144, 773 119,836 121,723 168, 803 150,903 224, 646 153, 796 249, 489 165, 840 147, 028 155, 555 115, 847 9,896 19, 963 26, 235 11,567 95, 547 19, 252 46, 032 16, 122 39, 055 27,515 24, 983 298,736 55, 678 19, 950 231, 533 15, 044 14, 109 15, 390 13, 662 39, 145 13, 582 18, 128 23, 788 23, 881 24, 406 8,593 13. 205 20, 267 817,841 91,431 67, 607 52, 624 45, 820 57, 073 76, 501 47, 949 53, 873 62, 175 85, 082 62, 851 65, 460 38, 580 360, 603 54, 970 29, 410 29, 809 25, 901 30, 785 30, 960 38, 132 41,368 104, 367 29, 952 22, 523 34, 071 20, 178 179, 041 15,817 13, 697 12, 117 16, 377 15, 565 18, 293 24, 890 15,515 13,034 10, 278 14, 006 15, 304 11, 839 243.8 50.0 45.9 50.8 44. 5 43.3 41.8 43.9 42.9 42.8 44.3 39.6 43.6 40.1 288 258 347 196 205 176 329 614 286 250 331 202 195 165 288 614 287 244 297 228 174 158 295 623 282 235 269 228 167 155 271 638 287 240 302 233 157 161 298 640 314 334 401 128 317 339 403 130 323 347 409 134 323 359 403 132 328 370 412 124 COMMODITY PRICES PRICES RECEIVED AND PAID BY FARMERS Prices received, all farm products}: Crops? — Commercial vegetables Cotton _ Feed grains and hay Food grains Fruit Tobacco. _ _ _ Livestock and products 9 Dairy products Meat animals Poultry and eggs. _ _ _ 1910-14 = 100.. do do do do do do do do do do do Prices paid: All commodities and services do Family living items do Production items . do All commodities and services, interest, taxes, and wage rates (parity index) 1910-14 = 100 Parity ratio § r do 274 274 270 231 292 178 199 171 217 612 284 237 317 182 201 172 234 614 282 242 353 178 201 170 253 614 282 244 351 188 199 171 257 614 303 367 351 143 264 224 263 177 192 170 209 610 299 365 342 147 304 360 357 143 324 357 403 136 317 352 393 134 315 345 393 134 286 251 351 192 199 174 284 614 316 339 401 129 340 369 319 340 371 319 341 372 390 343 372 322 346 376 325 348 376 328 349 377 329 351 381 330 354 383 333 353 383 332 355 386 333 356 388 333 355 387 333 393 394 395 396 400 403 404 407 410 412 410 412 413 414 71 70 68 66 68 70 70 69 70 70 70 70 68 69 219 298 173 167 154 24 ? 594 280 226 294 183 177 162 237 604 280 234 291 185 190 170 277 610 321 326 400 162 326 345 405 151 324 351 304 320 351 390 152 230 261 193 187 173 256 589 312 363 378 133 336 366 314 339 369 318 373 390 74 72 Revised. p Preliminary. i Advance estimate; total mfrs." unfilled orders for Sept. 1971 do not reflect revisions for selected components. 2 Based on unadjusted data. tData for mfrs. sales, inventories, and orders were revised for 1961-70 in Oct. 1970 and again in Aug. 1971 for 1966-71. The latter revision reflects: Benchmarking to the levels of the Annual Survey of Mfrs. for each year 1966 to 1969; introduction of a small number of other corrections; and development of new seas, factors. Revised data, seas, factors, and technical and analytic data Digitized appearforinFRASER two special Census Bureau reports entitled Mfrs.' Shipments, Inventories, and 270 231 280 187 184 175 252 606 Orders: Series M3-1.2 (data for 1961-65) and Series M-3-1.3 (data for 1966-71), available from the U.S. Government Printing Office, Wash., D.C. 20402, priced $1.00 and $.70, respectively. eSee corresponding note on p. S-6. 9 Includes data for items not shown separately, cf Compiled by Dun & Bradstreet, Inc. (failures data for 48 States and Dist. of Col.). O Revisions for Jan. 1969-Jan. 1970 will be shown later. §Ratio of prices received to prices paid (parity index). {Revisions back to Jan. 1966 are available from the Dept. of Agriculture, Statistical Reporting Service. SUKVEY OF CURRENT BUSINESS S-8 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1969 1970 Annual November 1971 1971 1970 Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July | Aug. Sept. Oct. COMMODITY PRICES—Continued CONSUMER PRICES (U.S. Department of Labor Indexes) Unadjusted indexes: | All items .. Special group indexes: All items less shelter All items less food All items less medical care Commodities _ . _ ___ Nondurables Nondurables less food Durables 9 - -- -Commodities less food Services Services less rent. 1967=100. 109.8 116.3 117.5 118.1 118.5 119.1 119.2 119.4 119.8 120.2 120. 8 121.5 121.8 122.2 122.4 122.6 do _ .do __ do 109.0 110.1 109.7 114.4 116.7 116.1 115.4 118.0 117.2 116.0 118.9 117. 9 116.3 119.6 118.3 116.8 120.2 118.8 117.0 120.3 118. 9 117.4 120.4 119.1 118.0 120.6 119. 4 118.6 120. 9 119.8 119. 2 121.6 120.4 119.8 122 2 121.1 120.0 122.4 121.4 120.3 122.9 121.8 120.4 123.3 121.9 120.6 123.7 122.2 _ _.do do do do _ do do .-do 108.4 108. 9 108.8 107.0 108.1 112 5 113.8 113.5 114.0 113.1 111.8 112.5 121.6 123.7 114.2 114.9 114.1 112.5 113.4 123.5 125.8 114.8 115.2 114. 9 113.9 114.5 124. 1 126.5 115.1 115.3 115.4 114.7 115.1 124. 9 127.3 115.6 115.6 115.7 115.2 115.5 125.6 128.0 115.4 115.4 115.3 115.2 115.2 126.3 128.7 115.5 115.7 115.4 115.0 115.2 126.6 129.0 116. 1 116.4 115.7 115.2 115.5 126.6 128. 9 116. 6 116. 9 116.0 115.7 115.8 126.8 129.1 117.2 117.4 116.6 116.6 116.6 127.5 129. 8 117.9 118. 1 116. 9 117.4 117. 1 128 2 130.6 118.1 118.3 116.7 117.5 117.0 128.8 131.2 118.3 118.6 117.2 117.4 117.3 129.4 131.9 118.3 118.7 118.2 117.2 117.8 129 9 132.4 118.6 118.8 118.7 118.0 118.3 130. 1 132. 6 108.9 110.8 106.7 109.3 110.8 113 3 105.7 116 0 103 6 105.6 102.8 109.0 111 5 107 2 106 5 104 4 103 1 112.7 110 3 113 4 109 3 108 7 114.9 116.5 111.8 113.4 118.9 123.6 110. 1 128.5 107.6 110.1 107.3 113.4 116.1 112.7 111. 1 107.6 104.3 128.5 116.2 120.6 113 2 113.4 115.7 117.0 112.5 111.5 120.6 125. 9 110.9 131.3 108.4 111.4 107.6 114.2 117.2 113.0 111 2 105.1 104 9 131.2 117 7 122 6 114 0 114 7 115.5 116.1 113.1 110. 0 121.2 126.5 111.4 131.9 109.2 112.5 108.8 114.5 118.2 115.2 113 4 110.8 107 2 131.3 118 2 122.8 114 4 115 2 114.9 114.3 113.5 109. 4 121.9 127.1 111.8 132.5 110.7 113.9 109.9 115.1 119.0 116.0 114 2 112.5 108 8 132.5 118 7 123 4 114 5 116 0 115.3 113.7 113.6 110.6 122.6 127.9 112.6 133.4 111.3 114. 9 110.7 115.3 119. 2 116.9 115 2 114. 1 109 5 133.4 119 1 124.2 115 0 116 2 115.5 113.1 113.9 109.6 122.7 128.0 112.9 133.4 112.1 116.7 111.5 115.4 117.6 117.5 115.8 115.4 107 0 133.9 119. 8 124. 9 115 3 117 3 115.9 113.6 114.0 112.6 122. 6 127.3 113.6 132.3 113. 1 117.2 112.8 115. 9 118.1 117.5 115 8 115.2 105 5 134.4 120.2 125.8 115 4 117. 5 117.0 115.6 114.2 116.0 122.4 126.7 113.9 131.2 113.8 117.4 113.3 116.4 118.6 117.8 115 9 114. 3 106 8 136.0 120 6 126 8 115 8 117 7 117.8 115.7 114.6 120.0 122.5 126.5 114.4 130.9 114. 1 117.3 113.9 117.0 119 1 118. 1 116 2 113 8 109 8 136. 4 121 2 127 5 116 3 118 4 118.2 115.8 115.1 121.4 123.2 127. 2 114.7 131.6 114.4 117.2 114.4 118.1 120.2 118.8 117.0 113.9 112.8 136.4 121.6 128. 1 116. 5 118.9 119.2 117.4 115.7 125. 1 124.0 128 3 115.2 133 0 114 6 117 4 114.6 118.7 1?0 1 119 6 117 6 113 9 114 1 139 0 l'>8 6 116 8 119 3 119.8 118.0 116.0 126.0 124.5 128.8 115.4 133.5 115.5 117.5 114.7 118.9 119.3 119. 5 117.4 113.8 113.5 139. 0 122.6 129. 3 117.1 119. 6 120.0 118.7 116.0 123.6 125. 1 129.5 115.8 134.4 116.3 117.8 115. 7 119.1 119.0 120.1 118. 1 112.9 112.5 139.1 123.1 130.0 117. 5 119. 7 119.1 119.1 116.1 116.6 125.5 130.1 116.1 135. 1 116.3 117.8 115.7 119.4 120 6 119.8 117 8 111.2 111 6 139.3 123.6 130.4 117 6 120 5 118.9 118.4 116.0 115.6 125. 9 130.6 116.4 135.7 116.3 117.8 115.7 119. 5 121. 6 120.6 118.6 115.3 111.7 139. 3 123.5 129. 6 117. 9 120.5 110. 3 108. 9 111.4 i1 113. 4 112. 6 i 113. 8 112.0 114.3 110.5 110. 9 113. 0 109. 5 109. 2 109. 7 108. 8 107.2 108.3 106. 4 107.1 108. 9 105. 9 109.9 113. 7 107.2 109.3 111.6 107.8 109.7 109.0 110.2 108.1 111. 1 106.1 108.3 113. 8 104.7 108.3 106. 1 107.4 107. 3 107. 5 106.7 108. 6 106.5 110.4 111.0 111.0 110.9 111. 0 111.8 112.8 113.0 113.3 113. 8 114.3 114.6 114.9 114.5 114.4 do do do do do 108.3 105.9 106 6 106.5 106 9 112.2 109.8 110.4 109. 9 111.9 113.0 110.6 110.8 110.4 112. 3 111. 3 110. 9 110. 9 110.1 113.8 108.7 110.9 111 4 110.5 114 2 108.6 111.0 111.5 110.5 115 1 110.7 111.5 112 2 111.3 115 6 115.9 111.8 112. 8 112.0 115.9 114.3 112. 6 112 9 112.1 116 0 115.2 113. 1 112 9 112.0 116 1 115.8 113.6 113.5 112.7 116.3 116.9 114 0 113 8 113.1 116 5 116.6 114.8 113.8 113.0 116.8 115.2 115.6 114.1 113.3 117.1 113.9 115.4 113.6 112.7 116.9 114.3 115.0 113.8 112. 9 117.1 do do do do do 107. 9 105.3 106.2 107.7 104.6 112.4 108.9 110.2 112.0 108.2 112.8 109.6 110.8 112.5 108.8 113.8 108. 9 111. 2 113.6 108.6 113.7 108.8 111.2 113.6 108.6 113.8 108.9 111.2 113.8 108.5 114.5 109. 7 111.8 114. 4 109. 1 115.0 111. 1 112.4 114. 9 109.8 115.5 111. 1 112. 7 115 5 109. 9 116.1 111.2 113.0 116 1 109.9 116.5 111.8 113.5 116.5 110.5 116.7 112 5 113 8 116 7 110 8 117.5 112.4 114.5 117.5 11.1.4 118.4 112.4 114.9 118.5 111.2 118.2 111.7 114.7 118.3 111.0 118.2 111.6 114.5 118.3 110.6 __.do _ _ _ - Food 9 _ _ _ Meats, poultry, and fish Dairy products Fruits and vegetables _ Housing _ Shelter 9 Rent -. _ . _ __ _ Homeownership Fuel and utilities 9 Fuel oil and coal. _ _ _ _ Gas and electricity.. _ _. Household furnishings and operation. Apparel and upkeep Transportation __ Private . New cars ... Used cars Public Health and recreation 9 Medical care... Personal care Reading and recreation .. do do do do do do do do do do do do.__ do do do do do do do do do do 19'> 1 WHOLESALE PRICESo1 (U.S. Department of Labor Indexes) Spot market prices, basic commodities: t 22 Commodities.. _ _ _ 1967 = 100 9 Foodstuffs do 13 Raw industrials do All commodities t _. By stage of processing: Crude materials for further processing Intermediate materials, supplies, etc Finished goodsO . Consumer finished goods Producer finished goods By durability of product: Durable goods Nondurable goods. Total manufactures. _ _ Durable manufactures Nondurable manufactures do_. 1 1 1 108.8 107.9 111.6 112.6 110.3 109.9 109.3 110.7 113.6 113.4 113.3 114.3 115.4 115.0 114. 6 113.0 113.0 Farm products 9-.do Fruits and vegetables, fresh and dried, .do Grains do Live poultry _ do Livestock . do 108.8 109.3 90.3 109 6 117 0 111.0 111.6 98.8 99 6 116 7 112.1 111.6 109.0 99.8 113 6 107.8 100.8 104.1 93.4 110 6 107.0 107.7 104. 2 95.2 101 2 107.1 111. 3 108.0 80.5 99 5 108. 9 115.7 111.0 96. 3 102 2 113. 9 118.3 111.7 100 0 118 9 113 0 125.3 108.4 100 1 114 9 113 0 120.8 106.8 99 5 116 9 114.0 127.5 107.2 101.3 119. 0 116 0 136.1 109 4 108 1 118 9 113.4 109. 3 102. 5 121. 1 I9!. 3 113.2 115.9 92. 8 100.8 121.3 110.5 103. 6 89.0 102.8 119.1 111.3 115.8 88.3 93. 5 120. 9 Foods and feeds, processed 9 __ . Beverages and beverage materials Cereal and bakery products.. Dairy products Fruits and vegetables, processed Meats, poultry, and fish,- __ do do do do do do 107.3 106.0 102.6 108.2 107. 9 113.8 112.0 112.9 107.6 111 2 110.4 115.8 113.0 114.1 109. 2 111.4 112. 0 115.1 111.8 114.5 109. 9 112.0 111.1 110.9 111.7 114.7 110.6 112.2 111.6 108.8 110.7 114.3 110. 9 112.8 111.0 104.3 111.8 115.0 111.0 112.8 111.2 108.6 113.3 115.2 111.1 112.3 111.5 115.2 113.7 115.3 111.5 115.0 111. 9 112. 9 113.5 115.6 111.5 115 5 113.0 113.3 114.5 115.7 111.5 116.2 114.0 116.4 114.9 115.7 111.5 116 1 115 4 116 7 116.0 115.9 111.5 116.2 115.9 119. 6 115.4 116. 1 111.4 115.4 116. 2 117.7 114.6 116.0 111.3 115.4 115.7 117.5 114.1 116.4 111.3 116.4 115.3 116.9 do 106.0 110.0 110.4 111.3 111.3 111.7 112. 2 112.5 112.8 113.3 113.7 113 9 114.5 115.1 115.0 115.0 do___ do__. do__. do do do 99.9 86.7 100.3 99.8 109.1 109.1 102.2 88.4 100. 9 101 1 133.3 112 4 102. 5 89.0 101.3 100. 9 127. 9 112.4 103.0 89.5 101.5 101. 2 144.4 112.7 103.3 89.5 101.5 101.6 151.5 112.7 103. 3 89. 4 101.4 101.8 150.9 112.8 103.8 91.7 101. 8 101. 9 133.7 114.5 104.2 92.6 101. 9 102.4 142.6 114 5 104.5 93. 9 102.2 102.6 144.3 115 1 104. 5 94.1 101. 9 102 0 143. 0 115 9 104.3 93.8 101.5 101. 9 138.8 115. 9 104.4 94. 1 102.2 102 3 132 0 115 ° 104.4 93. 4 102. 4 102.6 130.8 115.9 104.3 91.0 102. 4 102.7 134.2 115.9 104.3 91.0 102.4 102.6 132. 9 115. 9 104.2 90.4 102.4 102.6 129.0 115.9 Fuels and related prod., and power 9 _ do Coal do Electric power do Gas fuels do Petroleum products, refined . do .- 101.0 112.5 102.0 93.1 99.6 105.9 150 0 104 8 103 3 101. 1 107.1 160.0 105 4 106.9 101.6 108.7 175.2 107.2 107.0 101.6 109.7 175.8 108 2 106.5 103.1 112.8 175.8 108 7 107.5 107.5 113.5 176.0 113.0 176 0 110 2 108 1 106.9 112.8 176 0 111 1 109 4 105. 9 113.0 184 0 112 3 105 9 105 3 114.2 182.8 112 6 106. 9 107. 4 114.4 182 5 113 0 107 5 107 4 114.4 182. 9 113 5 107.7 107.2 114.8 182. 9 115.3 107.2 107.3 115.3 182. 9 116.4 108.4 107.3 114.8 182. 9 116.3 108. 8 106.3 104.9 108.0 108.4 Furniture and household durables 9 do._ . 107.8 107.5 Appliances, household ___ do 106.1 103.1 105.3 105. 9 105.3 112.1 112. 4 Furniture, household do_ 108.3 112.0 111.6 94.2 93.7 Home electronic equipment do 94.7 93.5 93.6 r Revised. Preliminary. 1 Computed by OBE. 9Includes data for items not shown separately. cfFor actual wholesale prices of individual commodities, see respective 108.7 106.4 112.7 94. 2 110.2 107.4 115.5 94.0 110.2 107.6 115.6 93.8 110.2 107.5 115.6 93.8 Farm prod., processed foods and feeds Industrial commodities Chemicals and allied products 9 Agric. chemicals and chem. prod Chemicals, industrial Drugs and Pharmaceuticals Fats and oils, inedible. ___ Prepared paint... 10;) 8 109.3 107. 9 110.0 107.0 115.3 93. 9 commodities. {New reference base; comparable data for earlier later. 0Goods to users, incl. raw foods and fuels. 109.3 107.0 112.9 94. 4 109.7 107. 1 113.9 94.2 109. 6 107.0 114.0 93.7 109.7 107. 1 114. 1 93. 7 109. 9 107.1 115.0 93.7 109. 8 107 1 115.2 93.6 periods will be shown SUKVEY OF CURRENT BUSINESS November 1971 1970 1969 Unless otherwise stated in foot, otes below, data in the 1969 edition of BUSINESS STATISTICS S-9 1971 1970 Annual Sept. Oct. Dec. Nov. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 114.7 117 1 117 7 113 4 134 3 146 8 114.7 117.1 117.2 113.4 131.8 142 7 COMMODITY PRICES—Continued WHOLESALE PRICESd"— Continued (U.S. Department of Labor Indexes — Continued) All commodities}: — Continued Industrial commodities — Continued Hides, skins, and leather products 9 1967=100.. Footwear, __ do Hides and skins. _ _. _ _ do Leather do Lumber and wood products.. . __ do _ I, umber do 108.6 109.1 124.1 108.7 125.2 131.5 110.1 113.0 104.4 107 7 113 7 113 7 109.9 113.7 99.6 105.9 114.2 114.5 110.4 113.8 103.2 107.1 113.1 113.8 110.9 113.8 109.2 107.3 111.9 112.2 110.4 113.9 101.9 107.3 111.1 111.1 111.7 116.0 98. 9 108.2 112. 2 113.0 112.4 116.3 105.3 108.7 117.5 120.3 112.5 116.5 105.5 108.6 123.4 129.0 114.0 116.6 121.1 111.0 124.6 131.5 114.4 116.7 121.4 113.0 124.9 132.8 114.2 116.8 114.0 114.4 126.1 134 4 114.2 116.8 114.0 114.4 142. 5 114.4 117.1 114.6 114.4 134.6 146.7 Machinery and equipment 9 do Agricultural machinery and equip do Construction machinery and equip do Electrical machinery and equip do Metalworking machinery and equip ..do. __ 106.4 108.5 110.0 102.9 107.8 111 4 113 0 115.5 106 4 114 0 112.1 113.1 115.4 107.5 114.3 112.7 114.0 117.7 107.6 114.6 113.1 115.2 118.9 107.9 114.7 113.8 116.3 119.6 108.2 115.1 114. 2 116.3 120.2 108.8 115.2 114.6 116.8 120.5 109.3 116.0 114.9 116.5 120.8 109 7 116.0 115.0 116.7 120.9 109.5 116.6 115.3 116.6 121.1 109.4 117.4 115 5 116.9 121.2 109 4 117.9 115 7 117.4 121.6 109 5 117.7 116 1 117. 5 121. 9 109 9 118. 1 116 0 117 5 121.8 109 7 118 0 116 0 117 5 121.8 109 6 118 1 Metals and metal products 9 Heating equipment. _ Iron and steel. ._ _ Nonferrous metals __ 108.5 105.3 107.1 113.6 116 7 110 6 115. 1 125 0 117.4 112.0 116.7 122.7 117.7 112.8 117.4 122.0 116.8 112.8 116.5 119.4 116.2 112.7 116.5 116.7 116.5 113.6 117.6 115. 4 116.4 114.1 118.0 114 2 116.5 114.5 118.2 113 7 117.8 114. 7 118. t 117.2 118.5 115.1 120.1 117.2 118 5 115 2 120.3 116 4 119 4 115.9 121.9 116 9 121 1 116.8 125.3 117 1 191 i 116 7 125 6 116 5 121 0 116 3 125 5 116 3 108.1 119 0 120 9 121.6 121.8 122 2 123 3 124 2 124 2 124 1 114. J 119.6 101.2 109. 9 114.2 108.7 107.5 114.5 120 1 104 0 110.2 114 3 108 7 107 5 114.5 121 5 112 7 110.5 114 6 109 7 111 2 114.9 122 8 114 3 110.6 114 7 109 8 111 4 114.9 122 6 114 5 110.6 114 7 109 7 110 8 114.9 122 6 113 6 110.6 114 7 109 5 110 8 109 2 113.3 111 9 101 9 (i) 92 6 109 113 119 103 (i) 92 7 109 7 113 8 119 2 103 1 (i) 92 5 109 6 113 8 122 2 102 5 (i) 92 4 109.6 113 8 113 0 112 6 116 8 110.7 115 2 113 0 112 6 116 8 $0 874 816 do do _ . _ d o __ do no. 6 Nonmetallic mineral products 9 do Clay prod., structural, excl. refractories do-Concrete products do Gypsum products __ do Pulp, paper, and allied products _ _ . do Paper do Rubber and plastics products § do . . Tires and tubes.. _ do 113 3 113.8 114.2 114.6 115.1 118.8 106.0 106.5 103.5 104.2 106.0 105.4 102.3 109.8 112 2 100 0 108.2 111 0 108 6 109.0 110.5 113.6 96.5 108.3 111.5 109.4 112.0 110.7 113.7 97.1 108.9 111.9 109.5 112.0 110. 9 113.9 96.0 108.7 112.1 109.1 112.0 111.3 114.5 95.1 108.5 112.1 109.4 112.0 111.4 117.1 97.0 109.0 112.6 108.4 107.5 112.7 117 6 97.9 109.3 112 7 109.1 107.5 113.6 118 5 98.9 109.3 113 1 109.1 107.5 114.5 119.4 101.0 109.6 114.3 109.0 107.5 Textile products and apparel 9 - Apparel.-. _ Cotton products Manmade fiber textile products Silk yarns _ _ . .. .. Wool products 105.9 107.2 104.5 106.6 98.7 101.3 107.2 111.0 105 6 102.1 114.3 99 4 107.5 112.0 105.7 100.7 112.3 98.7 107.3 112.3 106.0 99.1 112.4 97.7 107.1 112.4 106.2 98.0 110.5 97.7 106.7 111.9 106.9 97.5 111.2 96.8 106.9 112.3 107. 1 97.2 (0 96. 2 106.7 112.0 107.5 97.4 (i) 95 4 106.9 112.2 107 8 97.6 (i) 94 5 107.5 112.2 108.9 98.6 (i) 94.4 107 8 112.2 109.6 99.7 93.5 108 5 112.3 110 9 101 4 (i) 93 4 100.7 104.7 104.9 105.2 107.0 104.5 108.5 109. 9 109.4 114.0 103.6 107.3 111.5 110.1 117.0 108.2 112.5 111.6 110.6 117.0 108.5 112.8 111.8 110.4 117.0 108.9 113.4 111.9 110.5 117.0 109. 5 113. 9 112.3 111.7 116.8 109.7 114 1 112.6 112 3 116.9 109.5 113.8 112.8 113 1 116.9 109.7 114. 1 112.7 112.5 116.5 109.8 114.2 112.5 112 4 116.5 110.0 114 4 112 6 112 6 116 5 110.3 114 7 112 8 116 6 110.5 114 9 113 0 112 6 116 8 $0. 939 .911 $0. 906 .860 $0. 901 .851 $0. 901 .847 $0. 902 .844 $0. 901 .840 $0. 894 .839 $0. 887 .838 $0 885 .835 $0. 883 .832 $0. 879 .828 $0. 875 .823 $0. 873 .821 $0. 870 .818 $0 873 .817 ' 9, 267 ' 9, 862 '10, 137 '10, 476 10, 369 do do do do ...do- _ do Transportation equipment 9 ...Dec. 1968=100-. Motor vehicles and equip. 1967=100 Miscellaneous products 9 ... __ ._ __ _do_ — Toys, sporting goods, etc do Tobacco products . do 0) 119 6 7 6 5 1 PURCHASING POWER OF THE DOLLAR As measured by — Wholesale pricest Consumer pricest-- — - 1967=$!. 00 do CONSTRUCTION AND REAL ESTATE CONSTRUCTION PUT IN PLACE 1 New construction (unadjusted), total \ Private, total 9 Residential (including farm) New housing units.. _ _ mil. $.. r 93, 347 do . do Nonresidential buildings, except farm and i iblic utilities, total 9 mil. $ Industrial.. _ _ _ do Commercial... do Public utilities: Telephone and telegraph do Public, total 9 _ Buildings (excluding military) 9 Housing and redevelopment Industrial . . _ . . Military facilities Highways and streets __ do do do... do do do New construction (seasonally adjusted at annual rates), total \ __ bil $ Private, total 9 do Residential (including farm) Nonresidential buildings, except farm and public utilities, total 9-bil. $ Industrial.. .__ do Commercial _ do Public utilities: Telephone and telegraph do Public, total 9 Buildings (excluding military) 9 Housing and redevelopment Industrial Military facilities .__ Highways and streets ' 94, 265 8,744 8,642 8,558 8,013 ' 6, 987 ' 6, 783 ' 7, 535 ' 8, 450 65 384 T 66 147 ' 33, 200 T 31,748 r 25, 941 ' 24, 156 6 058 2, 897 2,253 6 129 2,957 2,279 6 023 2,935 2,280 5 831 r 5 052 ' 4 769 ' 5 367 r 6 061 r Q 607 r 7 102 ' 7 354 ' 7 627 7 554 2 849 ' 2 474 ' 2 300 r 2 618 ' 3 111' 3 561' 3 893 r 4 H5 ' 4 281 4 222 2 232 ' 3 243 ' 3 366 3 400 1,929 * 21,417 ' 6, 538 590 r 9, 754 887 1,920 588 882 1,822 553 843 1,781 ' 1, 593 ' 1, 530 ' 1, 667 ' 1, 833 ' 1,842 536 827 r ' 21, 155 r 6, 783 r 9, 401 2,172 r 27 963 r 2, 952 276 281 285 282 28, 118 2 686 2 513 2 535 2 182 11, 226 1,047 ••518 10, 657 r 1, 107 * 500 ••879 ••9 252 '719 ' 9, 986 r r 923 93 47 r 817 '49 45 r 72 1 061 T 71 982 207 267 278 254 r 2 168 r 2 389 r 2 660 ' 989 ' 107 36 900 141 50 831 88 44 859 92 37 843 98 42 948 106 51 1 Oil 97 56 ' 67 849 ' 61 ' 685 66 555 56 604 61 711 63 780 73 957 ' 102 3 r 103 0 r 105 g ' 94 2 r 96 4 r (Jg 3 102 6 r 100 6 '66.4 '67.8 ' 69.2 '70.7 '70.6 r 31. 2 '32.9 '34.1 r 21.0 '6.4 '9.5 r 20.7 '6.4 '9.3 r 109 5 ' 110 9 r H3 0 48 79 111 9 82.7 r 42 6 43 6 r 44 8 45 6 ' 20 6 ' 21 4 ' 21 8 ' 21 4 r 21 9 ' 6 3 '6 1 '9.3 ' 10.0 ' 22 7 r 22 1 r 93 1 ' 10.2 ' 6 5 T 7 ' HX5 ' 11.5 ' 12 2 ' 1 1 18 6 ' 5 7 T 7 ' 9.' 8 ii!s r 10.1 87 75 82 1 118 ' 1 092 1 065 2 815 ' 39 5 r 41 4 r ' r 10.2 10 T 6 7 107 5 1 046 82 ' 54 ' 35 1 ' 35 6 ' 36 5 r 37 7 '3.0 do _ do do do do r 955 81 33 '83.1 ' 28 6 3 2 29 0 31 r 31 9 '76.1 966 104 60 '81.4 27. 8 r ' 73.0 259 r 9 849 279 ' 80.2 '3. 2 do '70.7 230 ' 2 760 r 9 7»^ '77.7 ' Revised. v Preliminary. i Series discontinued. cfSee corresponding note on p. S-8. iSee corresponding note on p. S-8. 9 Includes data for items not shown separately, §Beginning Jan, 1970, retitled to read "rubber and plastics products" to cover the direct pricing of plastic construction products; continuity of the group index is not affected. 1 Data have been revised to reflect the incorporation of new basic data, the change in estimating procedures, the modification of the type of construc- 448-091 O - 71 - S - 2 187 ' 1 935r 2 014 2,034 ' 1, 951 ' 2 022 ' 2, 071 r 465 ' 423 413 r 1 087 ' 1 160 1 091 ' 23 4 23 6 '49 '54 ' 12 7 ' 13.1 r 2 9 32 34 30 30 9 7 30 ' 30 0 '31 6 r 30 1 29 6 ' 99 7 29 3 29 5 ' 29 8 10 4 q 5 9 1L6 11 1 11 6 1? 6 9 10.2 10 5 12 g 8 1L2 11 1 1i 5 10 9.9 12 3 1i 2 9 11 4 12 5 10 10.' 9 11 3 13 5 () 12.4 1 *> Q 8 io!i r r 5 () 22 1 4 5 11.7 99 2 6 8 9.' 3 tion classifications for private nonresidential buildings, the inclusion of farm housing in new private housing units, and the introduction of the results of a survey covering private nonresidential building construction in the 13 Western States. More detailed information may be obtained from the Bureau of Census Report C30-70S, available from the Superintendent of Documents (Washington, D.C. 20402). SURVEY OF CURRENT BUSINESS S-10 1969 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS | 1970 November 1971 1970 Annual Sept. Oct. 1971 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. CONSTRUCTION AND REAL ESTATE—Continued CONSTRUCTION CONTRACTS Construction contracts in 50 States (F. W. Dodge Division, McGraw-Hill): 0 Valuation total mil $ Index (mo. data seas. adj.)c? 67, 097 5, 396 5,508 5,181 5,017 4,383 4,993 6,386 7,743 7,555 8,077 7,670 7,712 i 124 i 123 118 115 130 132 117 126 142 161 141 147 151 153 156 mil. $ do 22, 687 44, 759 23, 188 43, 909 ' 1, 881 3,390 3,283 1,464 2,919 1,578 3,415 1,722 3,604 1,790 1,734 '3,515 1,903 4,664 2,074 5,669 2,065 2,795 5,489 ' 5, 282 2,683 4,987 2,299 2,010 5,413 4,804 __do do do _ 25, 641 25, 261 16, 545 24, 180 24, 428 18, 489 r r r 1, 930 2, 177 1, 289 1,889 2,319 1,299 1,715 1,961 1,504 1,716 2,062 1,654 1,818 1,521 2,199 2,729 2,080 2,264 2,621 2,246 1,458 2,495 3,310 1, 981 2,120 1, 239 1,711 1,631 1,041 do 57, 164 66, 937 4,303 7,555 7,013 6,023 4,682 5,481 5,245 4,580 5,502 1,499.6 1, 096. 5 1, 466. 8 810.6 1, 467. 0 1, 033. 2 1, 433. 6 812.9 133.4 89.2 130.9 76.0 143. 8 99.7 140.9 79.4 128.3 91.0 126. 9 67.4 123.9 89. 5 121.4 69.0 114.8 85.9 110.6 54.9 104.6 77.5 102.2 58.3 169.3 123.6 167.9 91.6 203.6 203.5 147.3 201.1 116.0 1,509 881 1,583 890 1,693 934 2,054 1,240 1,725 946 1,754 985 1,959 1,048 1967=100.. Public ownership Private ownership By type of building: Nonresidential. Residential Non-building construction New construction planning (Engineering News-Record) O r 67, 446 3,168 2,800 3,485 3,357 1,691 3,255 2,337 2,837 4,725 3,828 144.3 198.5 115. 6 196.8 137.3 193.8 116.9 197.0 ' 146. 5 194.3 107.7 1,912 1,098 1,975 1, 124 2,000 2,229 1,792 6,814 3, 196 1, 372 4,749 HOUSING STARTS AND PERMITS New housing units started: Unadjusted: Total (private and public) Inside SMSA's Privately owned One-family structures - thous _. do . do._ do Seasonally adjusted at annual rates: Total privately owned One-family structures do do New private housing units authorized by building permits (13,000 permit-issuing places) :} Monthly data are seas. adj. at annual rates: Total thous One-family structures do Manufacturers' shipments of mobile homes:* Unadjusted do Seasonally adjusted at annual rates do r ,m ' 205. 9 '171.3 '151.3 '121.7 ' 204. 5 ' 169. 5 ' 101.2 '111.7 r 2, 258 ' 1, 948 1,187 '1,212 2,006 ' 1, 175 2,050 1,152 -1,900 '865 2,215 989 1,322 625 1,341 642 1,388 679 ' 1, 558 697 1,487 ' 705 1,768 876 1,635 806 1,563 760 1,627 796 1,638 833 1,927 921 1,849 914 2,052 412.7 401.2 41.4 431 40.8 427 30.5 421 27.0 401 24.5 395 28.4 404 35.6 419 42.8 478 40.9 473 47.3 490 45.2 531 49.5 529 : 53.5 557 134 134 960 908 184.0 134.8 182.0 102.5 CONSTRUCTION COST INDEXES Dept. of Commerce composited1 1967=100.. 114 122 123 124 125 125 125 125 127 129 130 131 133 American Appraisal Co., The: Average, 30 cities Atlanta New York San Francisco St. Louis 1913 = 100 do do do do ,050 ,158 ,116 ,054 ,021 1,132 1,254 1,202 1,088 1,116 1,158 1,268 1,229 1,110 1,140 1,167 1,268 1,229 1,111 1,140 1,177 1,323 1,233 1,126 1,147 1,185 1, 323 1,233 1,128 1,147 1,190 1,323 1, 291 1,138 1,153 1,194 1,364 1,291 1,142 1,153 1,211 1, 393 1,305 1,163 1,168 1,218 1, 393 1,305 1,168 1,168 1,241 1,394 1,310 1,168 1,236 1,257 1,394 1,312 1,168 1,236 1,286 150 166 172 176 179 181 183 184 184 186 188 193 197 198 do 151.8 149.1 148.0 162.7 160.3 155.9 167.7 165.2 159.3 168.1 165.3 159.6 169.2 166.5 160.6 169.9 167.2 160.7 170.9 167.8 161.0 171.2 167.9 161.3 172.5 169. 6 163.6 174.2 169. 8 165. 2 173.5 171.5 165.2 174.2 171.9 166.0 178.5 176.1 172.8 179.3 177.2 173.5 181. 1 179.8 175.1 1967 = 100 ... do _. 117.7 118-7 124.4 128.9 127.6 132.9 128.4 133.9 129.0 135.0 128.9 135.0 130.2 136.9 130.6 137.0 134.4 139. 6 136.2 141.2 138.8 144. 2 140.6 147.2 141.9 148.3 143.4 150.9 147.4 153.2 2 147. 2 2 153. 5 Federal Highway A dm.— Highway construction: Composite (avg. for year or qtr.) <?_ _ . 1967=100._ _ 111.8 125.6 134.0 31.4 383 21.0 228 32.2 359 20.0 220 29.9 344 21.7 252 27.5 359 18.1 233 983. 62 1, 117. 40 862. 75 563. 32 578. 34 696. 10 821. 04 520.25 Associated General Contractors of America, Inc., The (building only) 1957-59=100.. Boeckh indexes: Average, 20 cities: Apartments, hotels, office buildings._-1957-59=100. . Residences Engineering News-Record: cf Building Construction „ . ___ 133.4 124 1 130 2 i CONSTRUCTION MATERIALS Output index: J o o ]] 7 ~t- | A ~~ — Iron and steel products, unadjusted A do ' 166.2 172 9 166.0 173.0 153.0 146.8 154. 2 168.0 170.3 228.2 166.3 176.7 234.1 141.5 152.7 178.6 152.5 153.0 158.2 145.7 156.1 103.4 146.2 169.4 116.1 183.4 198. 3 169. 3 194.7 195.4 216.5 ' 192. 3 176.0 225. 9 199.1 191.1 264.1 167.8 164.5 204.2 166.4 161.8 194.3 184.9 299.1 138.2 143.7 28.9 337 12.0 139 27.6 326 14.3 168 23.4 345 11.1 157 33.4 474 10.4 149 24.1 371 12.0 190 27.3 350 12.5 174 36.6 336 17.9 183 35.1 347 19.9 210 32.4 374 19.0 218 35.3 370 23.5 257 7, 120. 63 8, 113. 73 4, 073. 86 3, 442. 90 788. 61 325. 77 867. 76 340. 56 769. 79 318.97 751. 18 317. 70 771. 56 298. 85 734. 61 299. 69 849. 48 307. 20 759. 52 351. 49 793. 73 417. 95 951. 62 523. 36 REAL ESTATE Mortgage applications for new home construction: FHA net applications! thous. units Seasonally adjusted annual ratesj do Requests for V A appraisals __ do. _ Seasonally adjusted annual rates! 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, end of period mil. $_. 9,289 10,615 10, 524 10, 539 10, 524 10, 615 10, 326 9,926 9.690 8,269 7,268 7,241 7,338 21, 847 21, 387 2,183 2,127 1,972 2,474 1,667 1,887 2,795 3,168 3,438 4,301 4,151 4,111 3,626 4,757 11, 244 5,836 4,150 10, 239 6,998 388 1,100 695 406 1,032 689 355 919 698 416 968 1,090 307 752 608 346 818 723 521 1,143 1,131 597 1,306 1,265 620 1,451 1,367 718 2,109 1,474 686 2,087 1,378 641 2, 225 1,245 616 1,942 1,058 number. . 95, 856 101, 070 8,431 8,809 8,353 9,069 8,975 8,774 10, 351 mil. $_ . 1, 952. 02 2, 263. 92 176. 27 185. 67 158. 49 224. 02 200. 66 202. 26 221. 54 194. 02 195. 50 189. 44 175. 36 186. 60 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 Foreclosures f _ Fire losses (on bldgs. , contents, etc.) T l ? Revised. p Preliminary. Computed from cumulative valuation total. Index as o f November 1,1971: Building. 147.4; construction, 153.6. O Data for Oct. and Dec. 1970 and Apr., July, and Sept. 1971 are for 5 weeks; other months, 4 weeks. *New series. Data from Mobile Home Manufacturers' Association; seasonally adjusted annual rates calculated by Bu. of the Census. ©Data for all periods shown here are on a 50-State basis. cTNew Base; comparable data for earlier periods will be shown later. J Revisions for Jan. 1967-Oct. 1970 for permits, for 1961-68 for FHA applications, and for 1961-Feb. 1969 for requests for VA appraisals (seas. adj. annual rates) will be shown later. Revisions for 1964-68 for construction materials output indexes appear in the Dec. 1969 issue of Construction Review (BDC). f Revised series. 9 Includes data for items not shown separately. §Data include guaranteed direct loans sold. SURVEY OF CURRENT BUSINESS November 1971 ta Unless otherwise stated in footnotes below, data n through 1968 and descriptive notes are as shown S in the 1969 edition of BUSINESS STATISTICS 1969 1970 1971 1970 Sept. Annual S-ll Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. DOMESTIC TRADE ADVERTISING Marketing/Communications seasonally adjusted :f Combined indexf advertising index, 199 249 318 165 127 190 230 313 163 117 199 245 319 163 133 201 252 325 156 137 197 229 335 165 128 188 213 284 172 132 190 217 286 177 130 190 221 290 170 131 198 237 290 168 145 202 241 309 179 134 210 266 322 175 136 208 242 325 182 142 Magazine advertising (general and natl. farm maga/ines): Cost total *n\\. $._ 1,245.3 60.6 Aooarel and accessories do 114.4 Automotive incl accessories do 26.5 Building materials do 158.7 Drugs and toiletries do 101.5 Foods soft drinks confectionery do 1,192.7 50.8 96.5 21.0 156.6 99.5 102.6 7.8 7.1 2.0 13.4 6.5 123.7 5.9 11.4 2.3 14.9 10.5 120.6 4.3 8.5 1.6 14.4 11.2 95.9 2.8 5.1 1.0 12.3 9.2 69.8 1.9 6.4 .6 9.4 4.3 92.8 3.2 9.3 1.1 12.9 9.0 109.7 4.7 11.6 1.7 14.0 9.1 115.8 5.8 11.7 2.4 14.2 8.6 128.2 4.2 12.9 2.8 15.3 9.7 104.2 2.2 9.7 1.6 14.6 9.2 77.5 1.5 6.7 .9 11.1 8.2 76.8 3.9 5.0 1.1 11.3 6.3 109.9 6.8 7.7 2.1 13.9 8.5 101.8 76.5 60.0 15.7 48.2 481.4 98.1 71.2 43.9 16.3 64.7 474.0 7.0 6.6 3.9 1.2 6.2 40.9 9.9 9.2 4.0 1.8 6.5 47.3 11.7 8.2 3.4 1.7 6.4 49.3 15.1 4.8 2.3 1.1 6.6 35.6 2.6 2.4 2.4 .9 8.1 30.8 3. 6 3.2 2.2 1.3 9.8 37.2 5.7 5.8 2.6 1.9 10.0 42.5 7.2 7.3 2.9 1.6 10.3 43.9 8.8 8.2 3.5 2.0 11.5 49.3 8.9 4.8 3.1 1.4 10.8 37.8 5.5 3.6 2.0 1.5 9.5 26.9 4.5 2.7 2.4 1.3 9.6 28.8 6.4 5.7 3.2 1.7 9.5 44.3 227.7 6.7 55.4 10.2 31.9 123.5 220.2 6.8 52.3 6. 3 33.1 121.7 1957-59=100 C5r»nt nn\7 do Beer wine liouors do Household'equip., supplies, furnishings., do Industrial materials -do Soaps cleansers etc do Smokinsf materials do All other - do Newspaper advertising expenditures (64 cities) : 0 r Tr»tftl* TTlil $ r^loecifiorl do taenerai — -- -- -- WHOLESALE TRADE Merchant wholesalers sales (unadj.), total, mil. $.. 236, 708 109, 578 Durable goods establishments do 127, 130 Nondurable goods establishments do Merchant wholesalers inventories, book value, end of year or month (unadj.), total mil. $._ Durable goods establishments do Nondurable goods establish in ents do 24,365 14, 376 9,989 246, 643 111, 778 134, 865 21,410 9,794 11,616 21,757 9,863 11,894 20, 704 9,121 11, 583 21,404 9,095 12,308 19,181 8,271 10,910 19,200 8,502 10,698 22, 507 10, 085 12, 422 22,002 10,201 11,801 22, 053 10, 261 11,792 23, 684 11, 233 12, 451 22, 367 ' 23,148 10, 384 ' 10,788 11, 983 ' 12,361 23, 332 10, 804 12, 528 26, 622 15,318 11,304 25, 579 15, 197 10, 382 26,272 15,328 10,944 26, 627 15, 322 11, 305 26,622 15,318 11,304 26, 716 15, 432 11, 284 26,755 15,671 11,083 26, 873 15,814 11,060 27,099 16,215 10,884 27, 114 16, 265 10, 848 27,306 16, 418 10, 888 27, 606 ' 27,584 16, 686 ' 16,645 10, 921 ' 10,939 27, 713 16, 679 11,034 RETAIL TRADE | All retail stores:t Fstimated sale* (unadj ) total 1 Durable goods stores 9 Automotive group Passenger car, other auto, dealers Tire battery accessory dealers mil $ do do do do 375, 527 '30,856 '32,898 '31,193 '38,724 '28,865 '27,932 '32,105 '33,965 '34,199 ' 35,033 '34,560 114, 288 8,454 8,794 10, 705 11, 175 11, 174 12, 056 11, 299 8,653 9,822 9,987 9,528 64, 966 5,054 7,401 6,944 6,841 6,799 4,584 5,445 4,473 6, 743 5,497 5,205 59, 388 6,785 4.646 6,217 4,034 5,043 6,394 6,287 5,011 3,970 6,256 4,743 5,578 554 616 408 582 503 550 402 550 486 487 462 33, 840 10, 923 6,353 5,806 547 34, 037 11,377 6,751 6,241 510 Furniture and appliance group 9 Furniture, home furnish ings stores Household appliance TV radio do do do 17, 778 10, 483 6,073 1,469 848 525 1,555 914 542 1,556 934 523 1,948 1,066 720 1,345 795 451 1,299 762 442 1,467 889 469 1,420 853 471 1,442 869 484 1,555 923 537 1,521 930 496 1,527 941 488 1,518 889 510 Lumber, building, hardware group Lumber, bldg. materials dealerscf Hardware stores Nondurable goods stores 9 Apparel group do do do do do 15, 346 11,995 3,351 261, 239 19,810 4,630 7,582 3,501 1,422 1,136 286 21, 328 1,602 352 636 320 1,451 1,152 299 22, 911 1,741 382 708 299 1,299 1,024 275 22, 540 1,757 411 693 291 1,344 967 377 28, 902 2,824 737 1,058 408 1,007 803 204 20, 411 1,423 347 532 253 997 789 208 19, 138 1,240 276 492 218 1,216 980 236 21, 400 1,502 312 601 275 1,415 1,119 296 22, 790 1,767 382 688 341 1,481 1,152 329 23, 025 1,679 388 667 291 1,638 1,286 352 22, 977 1,673 405 654 280 1,625 1,283 342 23, 261 1,570 346 625 266 1,653 1,344 309 22, 917 1,637 349 635 295 1,598 1,295 303 22,660 1,687 357 664 321 13, 428 29, 689 86, 114 79, 756 27, 994 1,118 2,586 7,189 6,635 2,283 1,159 2,604 7,582 7,034 2,416 1,099 2,388 7,039 6,521 2,367 1,550 2,447 8,069 7,461 2,436 1,121 2,293 7,261 6,764 2,238 1,077 2,175 6,712 6,219 2,075 1,117 2,416 7,149 6,632 2,301 1,109 2,482 7,469 6,925 2,338 1,132 2,705 7,548 6,996 2,435 1,109 2, 752 7,445 6,881 2,512 1,108 2,829 7,970 7,408 2,633 1,134 2,889 7,284 6,748 2,626 1,115 2,625 7,340 6,804 2,467 61, 320 4,906 5,491 5,954 9,104 4,076 3,990 4,880 5,367 5,319 5,452 5,271 5,569 5,598 55,812 37, 295 3,853 6,959 7,942 4,418 2,905 310 563 605 4,951 3,275 359 602 675 4,778 4,993 3,690 4,915 5,404 4,853 3,563 4,386 8,595 3,205 2,482 3,398 3,317 3,270 2,343 2,916 3,575 5,810 214 292 324 294 317 254 448 351 499 537 551 419 634 570 1,184 572 432 499 779 650 731 594 650 668 712 686 937 '31,282 '31,761 '32,290 '32,850 '33,274 '33,578 '33,502 '33,827 '33,688 8,858 9,185 10,003 10, 240 10, 613 10, 747 10, 576 10, 782 10, 747 6,431 6,409 6,463 6,319 4, 679 5,755 6,093 4,967 6,337 5,910 5,244 5,794 5,869 4,183 5,548 5,803 5,937 4,512 540 521 534 496 511 545 526 525 455 5,085 3,371 369 549 712 5,059 3,421 357 534 708 34, 655 35, 155 11,298 6,830 6,284 546 11, 793 7,357 6,813 544 1,542 936 509 1,491 894 480 Women's apparel, accessory stores... do Shoe stores do Drug and proprietary stores Eating and drinking places Food group Grocery stores Gasoline service stations do do do do do General merchandise group with nonstores 9 mil $ General merchandise group without nonstores 9 § mil $ Department stores do Mail order housps (dept store mdse) do Variety stores do Liouor stores do Estimated sales (seas adj ) total f do Durable goods stores 9 do Automotive group do Passenger car other auto dealers do Tire, battery, accessory dealers do '31,951 '31,621 9,418 9,872 5,189 5,679 5,184 4,723 466 495 1,504 899 503 1,505 867 530 1,541 894 542 1,518 926 480 Furniture and appliance group 9 Furniture, homefurnishings stores Household appliance TV radio do do do 1,462 863 504 1,489 875 517 1,482 892 503 1,479 883 496 Lumber, building, hardware group Lumber, bldg materials dealerscf Hardware stores do do do 1,328 1,036 292 1,314 1,028 286 1,333 1,056 277 1,477 1,493 1,438 1,446 1,391 1,316 1,371 1,351 1,186 1,171 1,135 1,122 1,090 1,085 1,025 1,062 306 307 324 303 301 286 291 289 expenditures in 64 cities instead of linage in 52 cities as formerly published. t Revised to reflect new sample design, improved techniques, and new information from the 1967 Census of Business; revisions for periods prior to Sept. 1970 will be shown later (complete details appear in the Census Bureau Monthly Retail Trade Report, Aug. .1971 issue). 9 Includes data for items not shown separately. cf Comprises lumber yards, building materials dealers, and paint, plumbing, and electrical stores. § Except department stores mail order. ' Revised. » Data are for Feb. 1970. fRevised series; not comparable with previously published indexes. Revisions for Jan.Mar. 1970 are as follows: Combined index—196; 192; 197; television (network)—252; 238; 248; spot TV—306; 301; 304; magazines—165; 166; 171; newspapers—122; 121; 122 (no comparable data prior to Jan. 1970 are available). 0 Source: Media Records, Inc., 64-City Newspaper Advertising Trend Chart. *New series. Beginning Jan. 1971 the series was revised to reflect trends in newspaper advertising 1,352 1,079 273 1,388 1,111 277 1,502 882 518 1,569 930 529 1,533 886 532 SURVEY OF CURRENT BUSINESS S-12 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1969 1970 November 1971 1970 1971 I Sept. Annual Nov. Oct. Dec. Jan. Mar. Feb. Apr. May June July Aug. Sept. 22 941 1 729 389 694 285 23, 357 1,749 409 686 294 23, 362 1,695 388 667 289 1 126 2 567 7 411 6,878 2 433 1 169 2 614 7,478 6,950 2 511 1, 168 2,549 7,505 6,978 2 515 Oct. DOMESTIC TRADE—Continued RETAIL TRADEj— Continued All retail storesf— Continued Estimated sales (seas, adj.)— Continued Nondurable goods stores 9 __ .mil. $,_ Apparel group - -- do Men's and boys' wear stores __do Women's apparel, accessory stores _ _ d o Shoe stores __do Drug and proprietary stores Eating and drinking places _ Food group -Grocery stores Gasoline service stations r __ - _ d o . do __do do do General merchandise group with nonstores 9 ..mil. $. General merchandise group without nonstores 9 § mil. $ Department stores. do Mail order houses (dept. store mdse.)do___ Variety stores.- _. do Liquor stores do Estimated inventories, end of year or month: t Book value (unadjusted), total t_._ ._ mil. $_ Durable goods stores 9 - - do _ Automotive group do Furniture and appliance group do Lumber, building, hardware group, -do 43 535 22 079 1 612 386 640 290 r 22 203 1 661 377 657 291 r 22 424 1 683 378 661 297 1 168 2 516 7,427 6,876 2 322 1 166 2 521 7 228 6 693 2 383 5 152 5 305 5 327 4 644 3,071 320 602 648 4 797 3 186 327 604 672 4 780 3 167 320 602 681 1 157 2 522 7 390 6 850 2 410 r 22 576 1 681 385 640 305 r 22 287 1 689 378 646 303 r 22 610 1 707 384 660 303 r 22 661 1 709 391 666 292 r 22 831 '22 926 '23 045 1 755 1 750 1 712 395 405 413 696 665 690 283 297 297 r 1 145 2 528 7 271 6,730 2 343 1 171 2 535 7 387 6 834 2 361 5 249 5 330 5 471 5 501 5 526 5 546 5 654 5 653 5 757 5 848 4 854 3 230 311 606 646 4 906 3,287 318 591 696 4 982 3 342 325 592 708 4 987 3 336 340 594 718 5 076 3,427 342 577 714 5 092 3,413 345 596 718 5 194 3,503 358 584 754 5 150 3,472 354 571 734 5 251 3 511 384 577 741 5 290 3, 593 368 568 755 1 161 2 525 7 553 7 006 2 443 1 158 2 565 7 372 6 837 2 353 1 147 2 538 7 431 6, 891 2 343 1 139 2 584 7 492 6,947 2 362 1 136 2 574 7,418 6,867 2 390 19 527 q 424 3 122 2,546 43 543 18 353 8 204 2 938 2^591 44, 659 18 665 8 546 3 022 2,534 45 347 18 227 7 965 3 100 2,526 46 216 18 124 7 697 3 129 2,544 43 543 18 353 8 204 2 938 2, 591 43 570 18 901 8 831 2 879 2,623 44 924 19 857 9 663 2 922 2^681 47, 091 20 920 10 519 2 977 2,799 47, 759 21 284 10 783 3 039 2,795 47 795 21 587 11 079 3 020 2,824 47, 514 21 534 11 193 2 998 2,786 47 226 21 139 10 867 2 967 2,744 46 622 19 983 9 710 2* 992 2,667 48, 102 20 604 10 294 3 027 2,666 Nondurable goods stores 9 do Apparel group - do. _ Food group do General merchandise group with nonstores mil. $ Department stores _ _ __do 24 008 4 426 4 691 25 190 4 470 4 887 25 994 4 853 4 670 27 120 4 945 4 850 28 099 5 149 5 055 25 190 4 470 4 887 24 669 4 301 4 796 25 067 4 4n 4 784 26 171 4 689 4 955 26 475 4 713 5 003 26 208 4 629 5 024 25 980 4 568 5 064 22 087 4 605 5 081 26 639 4* 838 5 048 27 498 "> 015 5 112 9 186 5 348 9 864 5' 652 10 806 6*276 11 505 6 689 11 839 6 916 9 864 5 652 9 813 5 628 10 089 5 743 10 567 6 097 10 800 6 208 10 782 6 199 10 628 6 063 10 683 6 102 10 927 6*236 11 534 6 666 Book value (seas, adj.), total t - do. _ Durable goods stores 9 do Automotive group do Furniture and appliance group do Lumber, building, hardware group.. _do___ 44 693 19, 980 9 558 3' 199 2 627 44 918 19, 040 8 563 3 020 2,674 45 691 20, 270 10 114 3 004 2 575 44 883 19, 291 9 113 3 024 2,564 44 507 18, 542 8 320 2 980 2,549 44 918 19, 040 8 563 3' 020 2,674 44 984 18, 987 8 683 2 974 2^674 45 432 19, 480 9 159 2 991 2,716 46 416 20, 131 9 803 2 998 2,755 46 728 20, 232 9 911 3' 003 2,706 47 146 20, 716 10 296 3 017 2,758 47 383 20, 815 10 510 9 995 2,753 47 500 20, 879 10 561 2*982 2,747 48 187 21, 450 11 198 3* 004 2 689 48 798 21, 983 11 658 3 091 2 682 Nondurable goods stores 9 do Apparel group do Food group _ _ _.do_ _ General merchandise group with nonstore^ mil. $ Department stores do 24 643 4 606 4 672 25 878 4 656 4 868 25 421 4 583 4 712 25 592 4 579 4 746 25 965 4 720 4 879 25 878 4 656 4 868 25 997 4 695 4*840 25 952 4' 585 4*827 26 285 4 661 4 950 26 496 4 708 5 003 26 430 4 704 5 024 26 568 4 753 5* 095 26 621 4*747 5 153 26 737 4* 748 5* 135 96 815 4 722 5 158 9 777 5 677 10 508 6 013 10 369 6 017 10 394 5 988 10 544 6 056 10 508 6 013 10 621 6 164 10 681 6 116 10 726 6*146 10 867 6 252 10 912 6 287 10 948 6*309 10 892 6 246 in 0^1 6 255 U Firms with 11 or more stores: f Estimated sales (unadj.), total 9 . ... fic7 6 385 do Apparel group 9 _. do Men's and boys' wear stores do Women's apparel, accessory stores do. __ Shoe stores.. __ _ _ _ _ _ d o Drug and proprietary stores do Eating and drinking places ._ _ __do_ _ Furniture and appliance group do General merchandise group with nonstores 9 mil. $. _ General merchandise group without nonstores§ _ _ _ _ _ .. . mil. $ _ _ Dept. stores, excl. mail order sales do Variety stores. _ _ _ _ _ _ do_ __ Grocery stores Tire, battery, accessory dealers _ _do__do _ _ _ Estimated sales (seas, adj.), total 9 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 General merchandise group with nonstores 9 mil. $ General merchandise group without nonstores! mil. $ Dept. stores, excl. mail order sales do Variety stores. _ do Grocery stores.. Tire, battery, accessory dealers do do - All retail stores, accounts receivable, end of yr. or mo.: Total (unadjusted) mil. $ Durable goods stores do Nondurable goods stores do Charge accounts. _ _ __ do Installment accounts do Total (seasonally adjusted) Durable goods stores _ _ Nondurable goods stores Charge accounts Installment accounts . do do do do _ do r Revised. t(See note marked "t" on p. S-ll. J Series revised to reflect benchmarking to the levels of the 1968 and 1969 Annual Retail Trade Reports (Census Bureau), and also recalculation of seas, factors for all lines of trade; description of revisions and revised data back to 1961 appear on pp. 38rT. of the Oct. 1970 SURVEY. Retail inventories back to 1968 art presently undergoing revision and will be shown in the Dec. 1971 SURVEY. 9 Includes data not shown separately. § Except department stores mail order. SURVEY OF CURRENT BUSINESS November 1971 1969 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1970 Annual 8-13 1971 1970 Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. p LABOR FORCE, EMPLOYMENT, AND EARNINGS POPULATION OF THE UNITED STATES Total, incl. armed forces overseas f . _ _ mil__ 1 202. 60 i 204. 80 205.21 205.43 205.63 205.82 206. 02 206. 18 206. 34 206. 51 206. 68 206. 84 207. 01 207. 18 207. 37 207. 56 84, 239 80, 733 77, 902 74, 296 3,606 2,831 85, 903 82, 715 78, 627 75, 165 3,462 4,088 85, 656 82, 547 78, 256 74, 730 3,525 4,292 86, 255 83, 175 78, 916 75, 522 3,394 4,259 86, 386 83, 347 78, 741 75, 515 3,226 4,607 86, 165 83, 152 78, 516 75, 564 2,952 4,636 85, 628 82, 652 77, 238 74, 361 2,877 5,414 85, 653 82, 703 77, 262 74, 415 2,846 5,442 85, 598 82, 668 77, 493 74, 452 3,042 5,175 85, 780 82, 898 78, 204 74, 699 3,505 4,694 85, 954 83, 104 78, 709 75,111 3,598 4,394 87, 784 84, 968 79, 478 75, 559 3,920 5,490 88, 808 86, Oil 80, 681 76, 710 3,971 5,330 88, 453 85, 678 80, 618 76, 853 3,764 5,061 86,884 84, 135 79, 295 75, 851 3,444 4,840 87, 352 84, 635 80, 065 76,595 3,470 4,570 375 662 82, 975 78 479 75, 043 3,436 4,496 788 83, 300 78 691 75, 398 3,293 4,609 754 83, 473 78 550 75, 197 3,353 4,923 880 83,609 78, 463 75, 055 3,408 5,146 1,084 83, 897 78, 864 75,451 3,413 5,033 1,079 83, 384 78, 537 75, 208 3, 329 4,847 1,069 83, 475 78, 475 75, 079 3,396 5,000 1,107 83, 783 78, 698 75, 140 3,558 5,085 1,071 84, 178 78, 961 75, 503 3,458 5,217 1,202 83, 132 78, 443 75, 149 3,294 4,689 1,173 83, 829 78, 941 75, 574 3,367 4,888 1,311 84, 312 79, 197 75, 782 3,415 5,115 1,305 84, 598 79, 525 76, 169 3,356 5,073 1,239 84, 783 79, 845 76, 476 3,369 4,938 1,231 3.5 4.9 3.5 4.8 15.3 2.6 8.2 4.5 2. 8 5.4 3.9 5.0 16.5 2.9 8.8 5.0 2.9 5.5 4.1 5.0 17.0 3.0 9.3 5.2 3.0 5.9 4.2 5.6 17.6 3.2 9.0 5.5 3.6 6.2 4.6 5,8 17.8 3.4 9.5 5.6 3.8 6.0 4.3 5.7 17.6 3.3 9.5 5.6 3.5 5.8 4.2 5.6 16.7 3.2 9.6 5.3 3.5 6.0 4.2 5.8 17.8 3.2 9.4 5.6 3.7 6.1 4.4 6.0 17.2 3.1 10.0 5.6 6.2 4.5 6.0 17.3 3.3 10.5 5.7 3.7 5.6 4.2 5.5 15.8 3.1 9.4 5.2 3.1 5.8 4.3 5.7 16.2 3.1 10.1 5.3 3.6 6.1 4.5 5.8 17.0 3.2 9.8 5.6 3.5 6.0 4.5 5.6 17.1 3.3 10.5 5.4 3.3 8n 5.8 4.3 5.5 17.0 3.0 10.7 5.3 3.4 6.4 11.2 7.2 7.2 6.1 11.0 6.8 7.1 6.4 10.9 6.9 7.3 6.3 9.6 7.0 7.5 6.5 11.2 6.9 7.2 6.0 10.4 6.5 6.9 6.1 9.6 6.6 6.5 6.2 10.2 6.9 6.8 6.2 10.0 7.0 7.1 6.0 10.3 6.3 6.7 LABOR FORCE Labor force, persons 16 years of age and over.-thous.. Civilian labor force. __ _ _ _ _ do_. . Employed, total - __do Nonagricultural employment- .. do __ Agricultural employment do Unemployed (all civilian workers) do Seasonally Adjusted % Civilian labor force! ... do Employed total do Nonagricultural employment do Agricultural employment do Unemployed (all civilian workers) do Long-term, 15 weeks and over _ do Rates (unemployed in each group as percent of total in the group) :t All civilian workers Men, 20 years and over Women, 20 years and over Both sexes, 16-19 years Married men. Negro and other races White workers Occupation: White-collar workers Industry of last job (n on agricultural): Private wage and salary workers Construction Manufacturing Durable goods _ ___ 2.1 37 12.2 1.5 6.4 31 2.1 3. 9 3.5 60 33 3.0 5.2 9.7 5.6 5.7 5.8 12.7 6.1 6. 3 6.0 11.7 6.7 7.3 6.2 9.1 7.3 8.2 6.6 11.8 7.6 8.0 7 A. 7 A. q oo o. 7 9 EMPLOYMENT Employees on payrolls of non agricultural estab.:^ Total, not adjusted for seasonal variation ..thous. Private sector (excl. gov't) do Seasonally Adjusted Total. thous Private sector (excl. gov't) do Mining .. .. do Contract construction. . do Manufacturing do Durable goods. do 70, 284 58, 083 70, 616 58, 081 70, 841 58, 469 70, 604 57, 883 70, 562 57, 727 71,151 58, 266 69, 527 56, 728 69, 450 56, 541 69, 782 56,811 70, 309 57, 331 70, 738 57, 745 71,355 58, 422 70,452 r 70, 542 - 71, 234 58,114 - 58, 281 -58,503 71, 432 58, 381 70 284 58 083 619 3 435 20 167 11 895 70, 616 58, 081 622 3,345 19, 369 11, 198 70, 480 57, 942 620 3,274 19 235 11, 116 70, 082 57, 465 621 3,284 18, 669 10, 598 69, 985 57,314 624 3, 294 18, 517 10, 449 70, 313 57, 630 623 3,302 18, 796 10, 738 70, 454 57, 735 625 3,271 18, 747 10, 697 70, 391 57, 647 622 3, 198 18, 684 10, 642 70, 480 57, 688 622 3,264 18, 609 10, 571 70, 599 57, 768 623 3,282 18, 639 10, 598 70, 769 57, 911 622 3,275 18, 702 10, 651 70, 657 57, 819 619 3, 255 18, 608 10, 598 70,531 57,719 597 3,228 18,533 10,552 r 70, 529 - 70, 907 r 57, 686 -58,004 609 -614 r 3, 219 - 3, 244 - 18, 457 - 18, 619 '1 0,485 -10,598 70, 901 57,957 . 521 3,259 18, 631 10, 622 Ordnance and accessories .....do Lumber and wood products do Furniture and fixtures . . . do Stone, clay, and glass products do . Primary metal industries . do Fabricated metal products do Machinery, except electrical do Electrical equip, and supplies do Transportation equipment. do Instruments and related products, do Miscellaneous manufacturing ind do Nondurable goods do Food and kindred products. . . do Tobacco manufactures do Textile mill products do Apparel and other textile products. . .do Paper and allied products ..do Printing and publishing . do Chemicals and allied products - do Petroleum and coal products . . do . . Rubber and plastics products, nee ..do Leather and leather products .. .. do 316 607 484 656 1,361 1,440 2,033 2,020 2 060 477 441 8 272 1 791 83 1 002 1,409 711 1,094 1,060 182 596 343 242 572 460 638 1,315 1,380 1, 977 1, 923 1,807 459 426 8,171 1,782 82 978 1,372 706 1,107 1,051 190 580 322 230 567 457 637 1,324 1,387 1,935 1,896 1,811 452 420 8, 119 1,767 79 970 1,364 702 1, 105 1,048 189 578 317 222 565 454 631 1,284 1,326 1,892 1,856 1,506 447 415 8,071 1,759 79 963 1,355 696 1,103 1,043 189 569 315 217 564 452 626 1,253 1,304 1,870 1,811 1, 497 442 413 8,068 1,766 80 960 1,358 697 1,101 1,037 190 567 312 212 560 450 627 1,260 1,333 1,854 1,816 1,773 438 415 8,058 1,763 79 961 1,360 695 1, 099 1,033 191 566 311 208 563 449 626 1,262 1,328 1,829 1,800 1,782 437 413 8,050 1,765 79 962 1,356 693 1, 099 1,030 192 564 310 200 565 449 624 1,260 1,328 1,810 1,792 1,771 432 411 8,042 1,764 79 959 1, 359 691 1,096 1,026 192 567 309 195 566 450 622 1,264 1, 298 1,796 1,787 1,753 429 411 8,038 1,760 77 958 1,368 689 1,092 1,021 191 574 308 194 567 452 628 1,270 1,333 1,784 1,789 1,745 426 410 8,041 1,753 79 958 1,374 690 1,088 1,021 190 577 311 196 570 457 633 1,272 1, 339 1,783 1,793 1,768 429 411 8,051 1,758 78 963 1,373 681 1,091 1,024 190 582 311 193 574 458 629 1, 259 1,333 1,769 1,783 1, 759 430 411 8,010 1,751 956 1,357 682 1,088 1,016 189 583 311 191 579 461 625 1,226 1,335 1,770 1,773 1,751 431 410 7,981 1,762 69 959 1,349 676 1,083 1 008 188 584 303 -190 590 465 -633 1,182 1,344 1,791 1,791 1,765 -435 -410 412 - 7, 972 8,021 r 1, 748 - 1, 763 70 -72 '959 -959 - 1, 351 - 1, 358 -692 '681 1,080 r 1, 082 1,004 - 1, 007 188 190 582 -592 -309 -306 189 593 470 635 1,193 1,338 1,796 1,788 1,774 435 411 8,009 1,747 69 961 1,362 689 1,084 1,005 189 595 308 4,429 14, 639 3,733 10, 906 3,564 11,229 12, 202 2 758 9, 444 4,504 14, 922 3, 824 11,098 3,690 11,630 12, 535 2,705 9, 830 4, 518 14, 931 3,826 11,105 3,698 11,666 12, 538 2,657 9,881 4,517 14, 946 3,833 11,113 3,706 11,722 12, 617 2,659 9, 958 4,506 14, 902 3,827 11,075 3,721 11,750 12,671 2, 664 10,007 4,450 14, 952 3,832 11, 120 3,731 11,776 12, 683 2,661 10, 022 4,507 15, 039 3,841 11, 198 3,746 11,800 12, 719 2,661 10, 058 4,526 15, 059 3,845 11,214 3,749 11, 809 12, 744 2,662 10, 082 4,520 15, 074 3,852 11, 222 3,758 11,841 12, 792 2,662 10, 130 4,505 15, 107 3,854 11, 253 3,769 11, 843 12, 831 2,667 10, 164 4,518 15, 148 3,866 11,282 3,788 11, 858 12, 858 2,667 10, 191 4,500 15, 135 3,837 11, 298 3,807 11, 895 12, 838 2,640 10, 198 4,476 15, 158 3,835 11 323 3,806 11 921 12, 812 2 643 10 169 r 4, 428 - 4, 456 - 15, 223 - 15, 266 ^ 3, 844 - 3, 861 r 11, 379 - 11, 405 3,804 - 3, 819 -11,946 - 11, 986 r 12, 843 - 12, 903 2,650 - 2, 674 r 10, 193 - 10, 229 4,431 15, 271 3,883 11,388 3,826 12, 018 12, 944 2,677 10, 267 48, 105 14, 767 47, 950 14, 033 48, 347 14, 201 47, 777 13, 550 47,649 13, 374 48, 196 13, 617 46, 678 13, 400 46, 505 13, 378 46, 775 13, 345 47, 296 13,357 47, 708 13, 441 48, 322 13,611 47, 995 r 48, 180 - 48, 408 13,315 r 13, 524 - 13, 744 48, 295 13, 671 14, 767 8,651 182 526 402 526 1,087 1,108 1,382 14, 033 8,043 131 493 379 507 1,043 1,051 1,319 13, 963 8,016 124 487 377 506 1,055 1,061 1,288 13, 406 7,510 118 486 373 501 1,015 999 1,245 13, 279 7,384 114 485 373 496 984 981 1, 229 13, 577 7,686 111 480 370 497 992 1,011 1,217 13, 551 7, 665 108 483 370 496 997 1,007 1, 198 13, 507 7,625 102 486 369 494 997 1,006 1,183 13, 448 7 569 99 487 370 492 1,002 980 1,172 13, 502 7,612 97 488 372 498 1,008 1,014 1,163 13, 569 7,667 93 491 375 502 1,012 1,020 1,159 13, 498 7,627 95 495 378 499 996 1,013 1,152 13 440 -13,371 - 13, 525 7 594 - 7, 534 - 7, 636 94 93 93 -503 508 500 375 383 380 502 -497 496 -901 -925 965 1,016 - 1, 025 1,016 1,156 - 1, 159 - 1, 174 13, 515 7,649 92 512 387 505 938 1,018 1,178 Transportation, communication, electric, gas, and sanitary services . .thous Wholesale and retail trade do Wholesale trade do Retail trade . . do Finance, Insurance, and real estate . do Services do Government .do Federal. _. do State and local -do Production (or nonsupervisory) workers on private nonagricultural payrolls, not seas, adj ^thous.. Total on manufacturing payrolls do Seasonally Adjusted Total on manufacturing payrolls. . . . d o Durable goods do Ordnance and accessories .do Lur> ber and wood products do Furniture and fixtures .... do Stone, clay, and glass products do Pr mary metal industries. .. . .. do ... Fabricated metal products do Machinery, except electrical do l - Revised. *> Preliminary. As of July 1. fMonthly estimates have been adjusted to the 1970 Census; revisions prior to Dec. 1969 appear in Current Population Reports, Series P-25, No. 465, Estimates of the Population of the United States and Components of Change: 1940 to 1971 (Bureau of the Census). 191 583 456 627 - 1, 156 1,331 1,775 1,772 - 1, 754 ••430 ^Effective Feb. 1971 SURVEY, labor force data reflect new seasonal factors; comparable figures for prior periods appear in EMPLOYMENT AND EARNINGS, Feb. 1971 (USDL, Bureau of Labor Statistics). If See corresponding note, p. S-14. SURVEY OF CURRENT BUSINESS S-14 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1969 1970 November 1971 1971 1970 Annual Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct.* LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued EMPLOYMENT— Continued Seasonally Adjusted Production workers on mfg. payrolls— Continued Durable goods— Continued Electrical equipment and supplies thous.. Transportation equipment do Instruments and related products do Miscellaneous manufacturing ind do Nondurable goods ... ... ... ... . do Food and kindred products do Tobacco manufactures _.. do Textile mill products- _ do Apparel and other textile products . do Paper and allied products do Printing and publishing __ do Chemicals and allied products. . do ... Petroleum and coal products do Rubber and plastics products, nec_ _ do Leather and leather products ._ do - - 1,346 1,453 294 345 6,116 1,202 70 884 1,238 550 682 622 112 462 294 1,268 1,246 277 329 5,990 1,199 68 858 1,203 544 681 603 116 443 275 1, 254 1,269 271 324 5,947 1,186 66 850 1, 196 540 680 602 114 442 271 1,223 965 266 319 5, 896 1,179 66 844 1, 185 534 676 597 114 432 269 1,183 961 263 315 5,895 1,186 67 841 1,189 535 674 592 115 430 266 1,192 1,236 261 319 5,891 1,187 66 842 1,192 532 675 588 116 430 263 1,183 1,245 260 318 5,886 1,187 65 845 1,187 531 672 588 116 431 264 1,177 1, 237 256 318 5,882 1,186 66 841 1, 189 529 671 586 118 433 263 1,173 1, 225 253 316 5,879 1,184 64 839 1,197 526 668 583 116 440 262 1,177 1, 225 253 317 5,890 1,181 66 840 1, 202 527 666 584 116 443 265 1,184 1,253 255 318 5,902 1,184 65 845 1,204 519 667 588 116 448 266 1,179 1,246 256 318 5,869 1,178 64 838 1,188 520 667 585 115 449 265 37.7 43.0 37.9 40.6 37.1 42.7 37.4 39.8 36.9 36.9 42.7 37.0 39.6 39.4 2.8 36.9 36.8 42.7 37.2 39.7 39.6 2.7 37.0 37.1 42.8 37.7 39.9 39.5 2.7 36.9 36.6 42.9 37.6 39.6 39.8 2.8 37.0 36.6 42.6 36.8 39.4 39.8 2.8 37.0 36.8 42.8 37.8 39.7 39.8 2.9 37.0 36.7 42.2 37.1 39.5 39.8 2.9 36.9 33.8 42.4 36,8 40.0 40.0 3,0 37-1 37.3 42.3 37.2 40.2 40.0 2 9 36.9 37.3 42.2 37.1 39.8 40.0 3.0 1,169 1,167 1,244 '1,248 '256 257 318 '318 5,846 '5,837 1,188 r 1, 179 56 56 841 841 1,179 r 1, 180 515 520 661 ••658 582 577 115 "115 450 '447 259 '264 ' 1, 188 ' 1,257 '261 320 ' 5, 889 ' 1, 193 '58 '842 ' 1, 188 '531 '660 '582 116 '458 '261 1,186 1,253 261 319 5,866 1,165 56 844 1, 192 528 663 580 116 459 263 36.9 37.4 42.0 37.1 39.8 39.8 2.9 36.7 37.0 '41.7 '35.7 39.9 39.6 2.8 37.1 37.1 42.7 37.8 39.9 39.7 2.9 HOURS AND MAN-HOURS Seasonally Adjusted Average weekly gross hours per production worker on payrolls of private nonagric. estab. 1__ hours _. Not seasonally adjusted . do Mining . . . do Contract construction . . . . . .... do . Manufacturing: Not seasonally ad justed., .do Seasonally adjusted do Overtime hours do 3.6 3.0 36.7 37.0 42.1 35.0 39.6 39.3 2.8 Durable goods do Overtime hours. _. do Ordnance and accessories do ... Lumber and wood products do Furniture and fixtures .do Stone, clay, and glass products do Primary metal industries do Fabricated metal products. , . . do . M achinery, except electrical do Electrical equipment and supplies ...do ... Transportation equipment _ . do Instruments and related products. .. do Miscellaneous manufacturing ind ...do 41.3 3.8 40.4 40.2 40.4 41.9 41.8 41.6 42.5 40.4 41.5 40.7 39.0 40.3 2.9 40.6 39.7 39.2 41.2 40.5 40.7 41.1 39.9 40.3 40.1 38.7 39.8 2.7 39.7 39. 5 38.3 40.9 41.0 39.8 40. 1 39.0 39.8 39.4 38.1 39.9 2.6 40.2 39.3 39.2 41.0 39.9 40.2 40.4 39.7 39.9 39.8 38.4 40.0 2.5 40.4 39.8 39.3 41.1 39.6 40.1 40.6 39.7 40.0 39. 9 38.5 40.0 2.6 40.7 39.7 39.5 41.3 39. 9 40.2 40.3 39.7 40.2 39.6 38.7 40.3 2.7 41.1 39. 8 39. 5 41.2 40.3 40.4 40.2 39.7 41.3 39.8 38.6 40.3 2.8 41.4 39.8 39.6 41.3 40.6 40.4 40.1 39.7 41.5 39.7 38.4 40.4 2.8 41.9 39.9 39.7 41.7 40.8 40.3 40.2 39.7 41.7 39.7 38.8 40.3 2.8 41.5 40.1 39.5 41.1 41.0 40.1 40.0 39.8 40.6 39.7 38.6 40.5 2.9 41.5 39. 8 39. 9 41.4 41.0 40.7 40.5 39. 9 41.1 40.0 38.9 40.6 2.9 41.6 40.4 39.9 42.0 41.0 40.6 40.7 39. 9 41.4 39.7 38.7 40.4 2.8 41.9 40.5 40.1 41.8 40.6 40.7 40.7 40.1 39.5 39.8 39.2 '40.0 2.8 '41.9 '40.2 '39.9 41.8 '38.8 '40.2 '40.8 40.0 '39.9 '39.8 39.2 '39.8 '2.7 '41.4 '40.1 39.4 '41.4 '39.7 '39.4 '40.7 '39.6 '38.9 '39.7 '38.8 40.2 2.7 41.4 40.7 39.6 42.0 40.1 40.2 40.8 40.2 39.7 39.8 39.0 Nondurable goods do Overtime hours . do Food and kindred products do Tobacco manufactures _ . do Textile mill products., .. do Apparel and other textile products do 39.7 3.4 40.8 37.4 40.8 35.9 39.1 3.0 40.5 37.8 39. 9 35.3 38.6 2.8 40.0 38.4 38.9 34.1 38.9 2.8 40.5 38.0 39.6 35.0 39.0 2.8 40.4 38.4 39.7 35.3 39.0 2.7 40.5 39.3 39.7 35.3 39.2 2 9 40.7 39.1 40.4 35.2 39.1 2.9 40.7 36.1 40.2 35. 0 39.1 2.9 40.5 38.0 40.3 35.2 39.2 2.9 40.5 37.5 40.4 35.1 39.4 3.0 40.5 38.3 40.8 35.5 39.3 3.1 40.4 36.2 40.8 35.4 39.3 3.0 40.5 39.6 40.3 35.8 39.3 '3.1 '40.5 '37.1 '40.7 '35.7 39.1 3.0 '40.7 '36.5 '40.3 '35.4 39.2 2.9 40.0 35.2 41.0 35.7 43.0 38.4 41.8 42.6 41.1 37.2 41.9 37.7 41.6 42.7 40.3 37.2 41.5 37.4 42. 0 43.5 40.0 36.6 41.6 37.4 41.3 43.1 39.6 37.0 41.7 37.5 41.3 42.8 39.5 37.1 41.4 37.5 41.4 43.3 39.6 37.2 41.7 37.6 41.5 42.5 40.1 37.1 41.8 37.4 41.5 42.9 39. 9 36.9 41.9 37.5 41.4 41.9 40.3 37.4 42.3 37.5 41.7 41.7 40.3 38.3 42.1 37.7 41.5 41.7 40.4 37.8 42.3 37.7 41.7 42.3 40.7 37.5 42 .4 37.6 41.4 42.6 40.3 37.7 '42.4 37.5 41.5 43.4 '40.1 '37.6 '41.9 '37.4 '42.2 '42.8 40.1 '37.4 41.8 37.4 41.2 41.6 40.5 37.9 40.7 35.6 40.2 34.2 37.1 34.7 40.5 35.3 40.0 33.8 36.8 34.4 40.5 35.2 39. 7 33.7 36.7 34.4 40.2 35.2 39.9 33.8 36.7 34.3 40.3 35.2 39.8 33.7 36.7 34.3 40.3 35.1 39.8 33.7 36.7 34.3 39.9 35.1 39.7 33.6 36.7 34.2 40.6 35.1 39.7 33.6 36.8 34.2 40.6 35.0 33. 7 33.5 36.9 34.0 40.6 35.2 39.6 33.7 36.9 34.1 40.0 35.1 39.8 33.7 37.0 34.1 40.7 35.2 39.9 33.7 37.0 34.1 38.0 35.3 39.6 33.8 37.1 34.4 '40.5 35.1 '39.7 33.6 37.3 34.3 '40.7 '35.1 '39.7 '33.7 '37.0 '34.3 40.6 35.2 39.8 33.8 37.1 34.3 -137.05 r 136.52 r 136.45 r 137.04 137. 36 136. 65 137. 38 137. 56 138. 07 137. 99 137. 91 ' 137.67 ' 137.90 138. 3f, '92.6 '96.8 '94.2 92.1 88.2 93.4 80.3 100.2 92.7 89.4 54.2 '53.0 ' 96. 9 '97.6 ' 98. 9 99.7 '99.9 '99.9 52.4 99.8 101.2 102. C Paper and allied products do Printing and publishing do Chemicals and allied products ._ do . Petroleum and coal products do Rubber and plastics products, nee _ do Leather and leather products . do.Trans., comin., elec., gas, etc.* ... Wholesale and retail trade _ Wholesale trade Retail trade . Finance, insurance, and real estate Services* do do do .. do .. do do Seasonally Adjusted Man-hours, all wage and salary workers, nonagric. establishments, for 1 week in the month, seas, adjusted at annual ratef bil. man-hours .. r Man-hour indexes (aggregate weekly), industrial and construction ind., total 1T _. 1967=100.. Mining do Contract construction ... do Manufacturing do Durable goods, do r 138. 11 103.9 101.5 107.4 103.3 103.7 97.3 100.9 102.4 96.3 94.2 94.4 99. 2 93.3 94.4 92.6 92.6 100.8 99.0 91.1 87.1 92.1 101.1 99.9 90.4 85.7 94.1 101.3 101.5 92.6 89.3 94.2 101.7 100.3 92.9 89.6 93.1 100.4 95.1 92. 5 89.3 93.7 100.9 100.3 92.4 88.9 93.7 99. 7 99.3 92.5 88.9 94.4 100.1 98.3 93.5 90.2 94.1 99.0 98.5 93.1 90.0 93.2 94.4 97.4 92.4 89.0 ._ do . do do do 101.2 101.4 107.1 106.2 73.3 93.7 98.1 100.6 67.8 92.2 95.4 99. 5 65.3 91.5 96.6 98.8 63.4 92.5 96.8 98.0 62.2 91.3 96.6 98.7 61.1 92.1 96.6 98.3 58.1 92.7 96.5 98.1 57.1 93.1 97.0 98.7 55.4 93.8 97.1 98.4 56.0 93.6 98. 9 99.9 54.4 95.8 99. 6 100.8 53.6 97.0 100.7 99.7 do do do 104.4 105.5 100.8 96.8 97.9 93.1 99. 3 96.6 88.6 93.0 91.9 86.3 89.5 90.0 85.6 90 9 93.0 84.2 92.3 93.1 82.7 93.0 93.0 81.4 93.9 90.4 80.9 94.9 93.0 79.8 95.3 95.0 80.6 93.8 94.1 80.5 90.0 94.6 80.8 '80.3 '93.4 '81.2 '84.3 '92.4 '82.0 86.4 93.6 82.5 Electrical equipment and supplies do Transportation equipment ... _ . do Instruments and related products do Miscellaneous manufacturing ind do 102.3 106.3 103.1 100.7 95.1 88.7 95.8 95.6 92.0 89.0 91.9 92.5 91.4 67.9 91.1 91.8 88.4 67.8 90.3 90.9 89.1 87.6 89.0 92.5 88.4 90.6 89.1 92.0 87.9 90.5 87.5 91.5 87.6 90.1 86.5 91.9 88.2 87. 7 86.5 91.7 88.9 90.8 87.8 92.7 88.5 90.9 87.5 92.2 88.2 86.6 88.0 93.4 87.9 '87.8 '87.7 '93.4 '88.5 '86.2 '89.2 '93.1 89.7 87.7 89.4 93.3 Nondurable goods do Food and kindred products do Tobacco manufactures _ do Textile mill products ... . _ do Apparel and other textile products. . do 102.8 100. 9 91.1 103. 9 99. 8 99.3 100.1 90.5 98. 5 95. 2 97.1 97.7 84.3 95.1 91.5 97.1 98.3 88.1 96. 2 93.1 97.3 98.7 90.3 96.1 94.2 97.3 99.0 91.1 96.2 94.5 97.7 99. 5 89.3 98.2 93.8 97.3 99.4 83.7 97.3 93.4 97.4 98. 8 85.4 97.3 94.6 97.8 98.5 86. 9 97.6 94.7 98.3 98. 8 87.4 99. 2 95.9 97.7 98.0 81.4 98.4 94.4 97.4 99.1 77.9 97.5 94.7 97.9 '97.3 '98.3 ' 100. 0 '73.0 '74.3 '98.5 '97.6 '94.6 '94.4 97.3 96.0 69.2 99.6 95.5 Ordnance and accessories Lumber and wood products Furniture and fixtures Stone, clay, and glass products Primary metal industries. Fabricated metal products. . . . Machinery, except electrical r 139. 03 Revised. » Preliminary. ^Beginning with the Sept. 1971 SURVEY, payroll employment, hours, earnings, and turnover data reflect actual employment levels for Mar. 1970 and new seasonal factors. Data in the 1969 BUSINESS STATISTICS are in accordance with Mar. 1968 benchmarks and are not com- '92.5 96.7 '97.1 '91.6 '87.7 parable with current estimates nor with the revised historical statistics in BLS Bulletin N< 1312-8, EMPLOYMENT AND EARNINGS, UNITED STATES, 1909-71, to be available from th Superintendent of Documents, Government Printing Office, Wash., D.C. 20402. *Nei series. fData are adjusted to Mar. 1970 benchmarks. SURVEY OF CURRENT BUSINESS November 1971 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1969 1970 Annual S-15 1971 1970 Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. '97.9 '97. 2 97.3 '98.8 '97.2 '99.8 ' 101. 5 '111.8 '84.2 Oct. i LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued HOURS AND MAN-HOURS— Continued Man-hour indexes, seas, adjusted— Continued Manufacturing indus., nondurable goods— Con. Printing and publishing Rubber and plastics products, nee do . -do 105.0 103.0 105.6 97. 5 115.6 94.4 101.2 101.3 101.8 101.6 108.7 88.4 99.5 100.2 102.7 101.4 107.6 85.6 98.6 99.6 100.2 100.4 104.2 85.9 99.1 99. 6 99. 3 100.6 103.4 85.2 97.8 99.7 98.9 102.7 103.7 84.4 98.3 99.5 99.1 100.8 105.2 84.5 98.2 98.9 98.8 103.5 105.2 83.7 97.9 98.7 98.1 99.4 108.0 84.5 99.0 98.4 98.9 98.9 108.7 87.6 97.0 99.1 99.1 98.9 110.2 86.8 97.7 99.1 99.1 99.5 111.3 85.7 97.0 97.9 97.9 100.2 110.4 84.2 114.61 155. 23 181. 54 129. 51 139. 59 138. 17 110.15 105. 85 133. 66 158. 42 138. 94 152. 15 124. 84 161.44 128. 21 103. 74 115. 53 120. 77 97. 99 95. 47 82. 93 139. 32 141. 70 145. 05 170. 40 126. 18 87. 79 148. 15 91.14 199.85 78.66 108. 70 90.57 119.46 163. 97 196. 35 133. 73 143. 47 146. 57 117.51 108. 58 140. 08 159. 17 143. 67 154. 95 130. 87 163. 62 134. 34 109. 13 120. 43 127. 98 110.38 97. 76 84.37 144. 14 147. 78 153. 50 182. 76 128. 96 92. 63 155. 93 95.66 137. 60 82.47 113. 34 96. 66 121.73 164. 55 194. 76 135. 43 145. 16 145. 64 120. 99 108. 92 142. 83 166. 87 145. 44 152. 76 131. 20 167. 26 135. 38 108. 77 122. 15 130. 56 108. 29 96. 19 83.45 147. 97 151.18 159. 18 187. 92 132. 03 90. 50 160. 36 97. 08 138. 16 83.82 113. 46 98.78 121.03 168.56 204. 54 133. 45 142. 76 147. 53 120. 38 111.72 143. 31 157. 61 142. 61 153. 92 132. 47 161. 60 136. 40 110.30 122. 07 129. 51 111.11 99. 50 84.46 147. 07 150. 38 155. 70 187. 06 129. 28 92.00 159. 18 96.60 139. 25 83.08 115. 18 98.50 121.07 169. 52 197. 65 134. 58 143. 16 151.07 120. 78 111. 56 143. 85 156. 81 142. 66 155. 09 133. 60 162. 81 137. 48 111.64 123. 17 131. 54 112.81 100. 80 86.02 147. 55 150. 75 157. 29 187. 05 130. 61 93.37 160. 38 96.67 139. 74 83.17 115. 92 99. 18 122. 43 170. 28 204. 20 138. 45 149. 04 154. 54 119. 89 114.33 144. 96 161. 60 147. 38 157. 87 137. 83 176. 30 138. 40 113. 49 124. 58 133. 09 119.10 101. 45 86.13 148. 75 153. 90 158. 50 186. 19 132. 47 95.89 161. 20 97.08 141.15 83. 73 115.61 99.81 121.88 168. 75 199. 08 138. 60 149. 17 156. 83 117.09 110. 09 141. 86 164. 83 147. 17 155. 57 135. 83 181. 69 137. 02 112. 22 124. 09 134. 13 115.28 101. 60 85. 61 147.74 151. 03 158. 18 186. 06 132. 47 95.23 160. 39 97. 51 141. 37 83.41 117. 07 99.62 122.61 167. 60 197. 38 138. 29 149. 23 155. 32 120. 26 109. 91 144. 13 165. 65 146. 07 156. 39 134. 46 181.15 136. 76 111.72 123. 84 132. 80 107. 51 101. 60 86.06 148. 21 151. 37 158. 59 189. 93 131. 47 95.20 164. 83 97. 92 141.45 84.07 119. 23 100. 30 123.65 168. 82 205. 53 139. 74 151.50 157. 59 121. 70 112. 29 147. 44 168. 10 146. 77 159. 57 137. 36 182. 55 138. 55 113. 68 124. 87 133. 27 114.45 102. 51 87.44 149. 76 153. 38 158. 98 188. 10 132. 47 96. 09 163. 61 98.55 142. 16 84.41 119.56 100. 30 124. 05 170. 89 205. 35 139. 83 150. 40 156. 94 123. 11 111.25 147. 55 171. 39 147. 26 158.00 136. 72 175. 12 137. 86 113. 19 125. 65 134. 13 118. 91 102. 00 86.45 151. 26 154. 42 162. 57 193. 73 134. 06 95.98 164. 82 99.18 142. 63 85.25 120. 29 100. 64 125.49 171.30 209. 05 142.00 153. 09 158. 12 125. 42 113. 76 151.01 170. 57 152. 22 160. 79 138. 90 182. 52 140. 10 114. 07 127. 01 136. 21 125. 07 103. 94 87.69 152. 04 157. 17 161. 85 194. 65 136. 21 97.52 164. 37 99.88 145. 33 85.58 121. 77 101. 02 127. 57 172. 10 213. 94 143. 51 155. 04 160. 93 129. 65 116. 29 155. 24 173. 87 153. 38 162. 39 139. 95 183. 85 140. 10 114. 46 128. 44 136. 89 121. 44 104. 96 87. 69 155. 24 158. 34 164. 30 195. 11 137. 57 98. 30 169. 32 101. 60 146. 40 87.72 121. 36 101. 57 127. 94 172. 53 216. 41 142.09 151. 98 160.66 128. 88 115.53 155. 40 170. 53 150. 72 161.20 139. 00 172. 97 140.23 113. 48 129.63 137.63 130. 87 102. 66 88.43 157. 30 158.30 164. 79 197.80 137. 94 98.56 162. 43 103. 61 146. 43 89.78 122. 06 103. 70 99.99 91.07 111.44 101. 49 104. 61 89.95 115.90 99.66 106. 40 90.55 117. 25 99.79 105.85 89.63 115.68 97.95 105. 88 89.35 116. 58 98.38 106.96 89.81 119. 66 100. 47 107.29 90.01 120. 55 101. 13 107. 85 90.33 120. 31 100.76 108.66 90.70 121.47 101. 39 108.97 90.66 121. 54 101. 11 110.10 91.14 123. 27 102. 04 111.73 91.96 124. 48 102. 45 112.02 91.97 123. 35 101. 27 3.30 3.96 5.46 3.47 3.35 3.68 3.56 3.76 3.02 2.83 3.51 4.05 3.63 3.86 3.42 4.30 3.46 2.91 3.17 3.06 3.27 3.00 2.53 2.44 3.55 4.05 3.81 4.34 3.32 2.53 3.99 2.75 3.52 2.47 3.15 2.91 3.33 3.98 5.53 3.50 3.38 3.72 3.61 3.77 3.01 2.33 3.52 4.08 3.67 3.87 3.43 4.41 3.46 2.93 3.19 3.08 3.32 3.01 2.54 2.46 3.56 4.06 3.83 4.43 3.32 2.56 4.04 2.81 3.57 2.52 3.19 2.93 3.35 4.00 5.56 3.51 3.40 3.74' 3.62 3.77 3.06 2.84 3.55 4.09 3.67 3.90 3.43 4.44 3.48 2.94 3,20 3.10 3.32 3.02 2.54 2.48 3.58 4.08 3.84 4.49 \ 3.32 2.58 4.08 2.83 3.59 2.54 3.24 2.95 3.36 4.01 5.54 3.52 3.40 3.75 3.63 3.77 3.05 2.85 3.57 4.12 3.66 3.94 3.46 4.42 3.49 2.93 3.21 3.10 3.34 3.11 2.55 2.47 3.60 4.09 3.84 4.50 3.32 2.59 4.07 2.84 3.59 2.55 3.24 2.95 3.38 4.04 5.55 3.54 3.42 3.76 3.64 3.80 3.07 2.86 3.59 4.17 3.70 3.95 3.47 4.40 3.49 2.94 3.23 3.12 3.37 3.24 2.55 2.47 3.61 4.14 3.88 4.58 3.36 2.58 4.10 2.85 3.62 2.56 3.26 2. 96 3.41 4.04 5.65 3.55 3 43 3.78 3.66 3.81 3.12 2.88 3.63 4.15 3.74 3.97 3.49 4.43 3.52 2.94 3.24 3.13 3.38 3.30 2.56 2.47 3.62 4.18 3.90 4.58 3.38 2.58 4.13 2.87 3.67 2.57 3.30 2.98 5.53 7.706 5.629 7.828 1.76 5.629 i 7.841 5.64 7.878 5.717 7.992 1.76 r 102. 0 ' 109. 1 '85.6 98.0 97.7 97.1 98.7 113.2 86.0 WEEKLY AND HOURLY EARNINGS Not Seasonally Adjusted Avg. weekly gross earnings per prod, worker on "payrolls of private nonagric. estab. ^.--dollars-Contract construction Manufacturing establishments do -.do Fabricated metal products Machinery, except electrical- do do Instruments and related products do. ._ Food and kindred products do. .. Textile mill products do Printing and publishing Chemicals and allied products do do Leather and leather products Trans., comm., elec., gas, etc.* Wholesale and retail trade Retail trade do do do do. . . Spendable earnings per worker (with 3 dependents), total private sector current dollars ._ 1967 dollars.1967 dollars.. Avg. hourly gross earnings per prod, worker on payrolls of private nonagric. estab. 1 dollars. . Con tract construction Excluding overtime Durable goods Excluding overtime Ordnance and accessories Lumber and wood products do do... do do do do.... Stone- clay, and glass products Primary metal industries. _ Fabricated metal products Machinery, except electrical Eleotrical eauip. and supplies do do do do.-. do Instruments and related products Miscellaneous manufacturing ind Nondurable goods . Excluding overtime do do .. do do Textile mill products Apparel and other textile products Paper and allied products Printing and publishing. . Chemicals and allied products Petroleum and coal products Rubber and plastics products, nee. Leather and leather products Trans., comm., elec., gas, etc.* do do do do do do do do do Wholesale trade Retail trade Finance, insurance, and real estate Services* do do do do Miscellaneous hourly wages: Construction wages, 20 cities (E N R) : cf Commonlabor _ . $perhr Skilled labor do | Farm, without board or rm., 1st of mo do 3.04 3.61 4.79 3.19 3.06 3.38 3.24 3.42 2.74 2.62 3.19 3. 79 3.34 3.58 3. 09 3.89 3.15 2. 66 2. 91 2.79 1 2. 96 2.62 2.34 2.31 3.24 3.69 3.47 ! 4.00 | 3.07 I 2.36 3.64 2.56 3.23 2 30 2.93 2.61 3.22 3.84 5.25 3.36 3.24 3.56 3.43 3.61 2.96 2.77 3.40 3.93 3.53 3.77 3.28 4.06 3.35 2.82 3.08 2.97 3.16 2.92 2.45 2.39 3.44 3.92 3.69 4.28 3.20 2.49 3.85 2.71 3.44 2 44 3.08 2.81 i 4.629 ! 6.514 j 1.55 i 3. 708 i 5. 224 7. 314 1.64 3. 939 3.29 3.89 5.38 3.42 3.29 3.62 3.49 3.65 3.04 2.80 3.45 4.07 3.60 3.80 3.33 4.14 3.41 2.84 3.14 3.02 3.20 2.88 1 2.46 2.44 3.54 I 4.01 3.79 4.33 3.26 2.50 3.94 2.75 3.48 3.28 3.92 5.44 3.37 3.25 3.56 3.44 3.67 3.04 2.80 3.47 3.99 3.53 3.81 3.32 4.00 3.41 | 2.85 3.13 3.01 3.19 2.82 2.50 2.42 3.51 4.01 3.77 4.32 3.24 2.50 3.94 2.76 3.49 3.10 2.88 3.13 ! 2.88 9 40 5.427 7.61 9 4ft 5.480 7.64 1.61 5.52 7.67 3. 932 3. 961 I ' Revised. * Preliminary. i Includes adjustnlents not distribute d by months. If See corresponding note, p. S-14. * New series. 3.29 3.97 5.46 3.39 3.27 3.57 3.46 3.73 3.05 2.81 3.50 3.98 3.54 3.82 3.34 4.01 3.42 2.87 3.15 3.04 3.24 2.93 2.52 2.43 3.53 4.02 3.79 4.34 ! 3.29 2.51 3.96 2.77 3.52 2.49 3.15 2.90 4.001 1 3.42 4.04 5.63 3.57 3.44 3.80 3.67 3.85 3.17 2.90 3.67 4.21 3.75 3.99 3.49 4.43 3.52 2.95 3.26 3.13 3.38 3.30 2.56 2.47 3.67 1 4.20 3.94 t 4.58 I 3.38 2.58 4.15 2.87 3.66 2.58 3.28 2.97 5.86 __a.»| i 6.014 8.365 1 129. 03 ' 173. 43 220. 23 141. 69 ' 151.60 ' 129. 13 ' 173. 47 '216.23 143. 64 ' 153.18 r 161.80 ' 162.24 r 129.20 ' 129.68 r 118.78 ' 118.00 157. 78 ' 156.71 r 166.45 ' 171.90 ' 151.13 ' 150.80 r 162.01 ' 165.24 r 140.00 ' 140.80 ' 171.74 ' 173.80 r 140.58 ' 142.80 r 115.64 ' 115.44 129. 17 ' 130.75 r 135.94 ' 138.51 ' 119.31 ' 114.61 r 104.86 ' 104.90 ' 90. 00 ' 89. 82 r 158.53 ' 158.67 159. 47 ' 160.98 164. 79 ' 170.07 ' 195.53 ' 198.56 r 139.04 ' 141.29 r 97. 38 ' 96. 57 r 172.98 ' 177.10 103. 68 ' 102.08 r 147.63 ' 147.68 ' 87. 88 r 89. 18 123. 09 ' 121.77 ' 103.75 ' 103.97 112. 96 112.90 ' 112.98 92. 39 ' 92. 30 92. 14 124. 59 124. 27 123. 03 101. 36 100. 68 101. 79 3.45 3.43 "4.10 4.05 5.75 5.68 3.56 3.57 3.43 3.45 3.79 3.79 3.66 3.66 ' 3.88 3.89 '3.19 3.19 '2.94 2.91 3.73 3.70 '4.29 4.19 '3.75 3.74 4.02 4.00 '3.50 3.51 4.37 4.39 '3.55 3.55 '2.95 2.94 3.27 3.29 3.15 3.16 '3.34 3.39 '3.19 3.33 ' 2. 59 2.56 '2.50 2.47 3.73 3.71 4.23 4.21 3.99 3.99 '4.59 4.60 3.45 3.44 1 2.59 2.58 '4.25 4.23 2.88 2.87 3.70 3.67 '2.57 2.58 3.30 3.29 ' 2. 99 2.98 6.05 8.38 1.74 r" cf W ages as of Nov. 1 1971; Cc)mmon, i >6.182; skilled, $8.511. 129. 11 168.99 225. 79 143. 24 154. 33 162. 29 131.61 117. 68 158. 63 170. 31 152. 71 165. 24 142. 21 177. 28 142. 80 116. 62 129. 30 135. 14 110. 23 106. 71 89.36 157. 03 159. 00 165. 21 194. 79 140. 76 99. 15 176. 66 101. 50 147. 66 87.10 122. 76 103. 97 6. 156 8.471 3.48 3.93 5.88 3.59 3.46 3.82 3.69 3.92 3.21 2.92 3.75 4.29 3.78 4.05 3.52 4.41 3.57 2.96 3.29 3.16 3.37 3.02 2.59 2.51 3.73 4.24 4.01 4.66 3.45 2.63 4.33 2.90 3.71 2.60 3.30 3.04 '3.49 4.14 5.86 3.60 3.46 '3.82 3.69 '3.90 '3.21 '2.95 '3.74 4.33 3.77 4.05 '3.52 '4.40 '3.57 2.96 '3.31 3.17 '3.37 '3.04 '2.57 '2.53 '3.76 '4.27 ' 1.03 '4.65 '3.48 2.61 '4.33 2.90 '3.72 2.60 '3.30 3.04 6. 182 8.511 1.70 6.185 8. 515 1 SUKVEY OF CURRENT BUSINESS S-16 Unless otherwise stated in footnotes below, data through 1968 and descrip*ive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1969 1970 Annual November 1971 1971 1970 Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued HELP-WANTED ADVERTISING Seasonally adjusted index t 1967=100 LABOR TURNOVERA Manufacturing establishments: Unadjusted for seasonal variation: Accession rate, total mo. rate per 100 employees.. New hires do Separation rate total do Quit — - do... Layoff - do__ _ Seasonally adjusted: \ccession rate total do New hires do Separation rate, total do Quit do Layoff do 122 93 '85 78 80 80 75 77 78 78 79 83 85 85 80 4.7 3.7 4.9 2.7 1.2 4.0 2.8 4.8 2.1 1.8 4.7 3.4 6.0 3.3 1.7 3.8 2.7 5.3 2.1 2.2 3.0 1.9 4.3 1.4 2.1 2.4 1.4 4.1 1.2 2.2 3.5 2.0 4.2 1.5 1.9 3.1 1.9 3.5 1.3 1.4 3.5 2.2 3.7 1.5 1.4 3.7 2.3 4.0 1.6 1.4 3.9 2.6 3.7 1.7 1.2 4.9 3.5 3.8 1.8 1.2 4.0 2.7 4.8 1.8 2.1 5.3 3.4 5.5 2.8 1.8 p4. 7 P3.3 P5.4 P2.9 pl.6 3.8 2.6 3.6 2.4 3.7 2.4 3.8 2.3 3.8 2.3 3.7 2.4 3.9 2.5 4.0 2.5 3.8 2.5 3.7 2.4 3.7 2.5 4.2 2.8 P3.8 P2.5 2.0 1.9 1.9 2.1 1.7 2.0 1.9 1.8 1.8 1.7 1.7 1.5 1.7 1.5 1.7 1.6 1.8 1.5 1.9 1.5 1.8 1.5 1.9 1.9 pi. 7 P 1.8 5,716 3,305 560 591 448 231 340 84 224 456 280 222 330 114 410 116 540 174 580 702 610 272 410 820 390 166 280 88 66, 414 971 785 8,670 881 754 11,574 695 552 7,798 529 920 3,189 440 286 2,709 490 169 1,771 590 200 2,292 750 254 2,184 790 774 3,437 850 384 3,923 670 967 7,906 660 472 4,505 540 286 2,841 INDUSTRIAL DISPUTES Strikes and lockouts: Beginning in period: 5,700 \Vork stoppages number 2,481 \Vorkers involved thous [n effect during month: \Vork stoppages number \Vorkers involved thous 42, 869 Man-days idle during period do EMPLOYMENT SERVICE AND UNEMPLOYMENT INSURANCE 5,153 Nonfarm placements thous Unemployment insurance programs: 1,177 Insured unemployment, all programs § do State programs: 10, 385 Initial claims do 1,101 Insured unemployment, weekly avg.-.do Percent of covered employment:^ 2.1 Unadjusted Seasonally adjusted 923 Beneficiaries weekly average thous 2, 127. 9 Benefits paid mil $ Federal employees, insured unemployment, 20 weekly average-. thous.. Veterans' program (UCX): 333 Initial claims do 37 Insured unemployment, weekly avg.-.do 34 87.0 Benefits paid mil $ Railroad program: 100 Applications thous 17 Insured unemployment, weekly avg.-.do 37.0 Benefits paid mil $ 3,845 345 304 289 230 257 233 295 309 308 365 315 367 2,070 1,746 1,889 2,233 2,632 3,195 3,216 3, 091 2,756 2,443 2,332 2,430 2, 349 2,174 15, 387 1,805 1,079 1,607 1,208 1,724 1,432 2,017 1,863 2,369 1.756 2,799 1,291 2,751 1,265 2,577 1,111 2,283 964 2,001 1,152 «pl,468 6*1,266 1,912 1,993 1,893 1,739 5.2 3.7 2. 302 526. 7 5.2 3.8 2,423 557.7 4.8 3.9 2,339 631.0 4.3 4.0 2,105 541.9 3.8 4.2 1,769 434.5 3.6 3.6 3.8 4.2 4.4 4.0 1,714 «Pl,459 frpl,457 446.7 "P400.6 *> P405. 2 3.3 4.5 1,518 3, 848. 5 3.0 4.1 1,375 299.9 3.2 4.4 1,377 305. 1 3.7 4.5 1,553 341.9 4.4 4.0 1,900 462.0 3.4 35 33 & P53 a P53 54 120 120 114 115 a V 112 b P 115 30.1 « P 29. 2 & P 30. 0 106 89 15 3.8 98 27 8.7 100 33 6.9 31 31 32 33 35 36 37 37 35 31 29 556 79 75 203.2 46 81 81 18.3 49 83 75 17.3 51 97 86 19. 1 59 113 107 26.2 56 127 123 27.8 50 128 127 28.2 57 128 128 33.3 51 121 122 30.8 45 113 110 27.0 128 18 38.7 18 2.9 16 22 3.5 8 20 3.7 9 20 4.2 14 31 4.7 38 22 4.4 30 19 4.6 85 20 4.4 36 18 3.5 45 13 4.2 36 P8C FINANCE BANKING Open market paper outstanding, end of period: Bankers' acceptances _ mil. $ Commercial and finance co. paper, total do. _ Placed through dealers do Placed directly (finance paper) do Agricultural loans and discounts outstanding of agencies supervised by the Farm Credit Adm.: Total, end of period mil. $ Farm mortgage loans: Federal land banks _ do Loans to cooperatives _ do Other loans and discounts.. do 5,451 31,709 11,817 19, 892 7,058 31, 765 12,671 19, 094 5,848 33,958 12,518 21,440 6,167 34, 401 13, 084 21,317 6,267 33, 966 13, 301 20, 665 7,058 31, 765 12, 671 19, 094 6,912 32, 295 13, 433 18, 862 6,984 32, 506 13, 921 18, 585 7,174 31, 223 13, 570 17, 653 7,301 31,367 13, 489 17, 878 7,494 31,115 13, 000 18, 115 7,645 29, 472 11, 736 17, 736 7,454 29, 746 11,470 18, 276 8,377 30, 057 11,948 18, 109 8,148 29, 946 12, 304 17, 642 13, 204 14, 774 14, 443 14, 573 14,616 14, 774 14, 957 15, 206 15, 492 15, 718 15, 899 16, 146 16, 137 16, 107 16,044 16,211 7,650 1,997 6,490 7,709 1,942 6,456 7,766 1,942 6,336 7,826 2,030 6,355 6,714 1,732 4,758 7,187 2,030 5,557 Bank debits to demand deposit accounts, except interbank and U.S. Government accounts, annual rates, seasonally adjusted: Total (233 S MSA's) Obil $ New York SMSA do Total 232 SMSA's (except N.Y.).... 6 other leading SMSA 'si 226 other SMSA's 7,137 1,973 5,463 7,156 2,020 5,439 7,187 2,030 5,557 84, 050 90, 157 87, 366 86,609 88, 464 90,157 Reserve bank credit outstanding, total 9 -do Discounts and advances do U.S. Government securities do 60, 841 183 57, 154 66, 795 335 62, 142 63, 297 852 59, 975 63, 527 428 60, 015 63, 737 300 61, 233 66, 795 335 62, 142 Gold certificate account 10, 036 10, 457 10, 819 10, 819 10, 827 10, 457 do 7,210 2,119 5,628 7,258 2,164 5,784 7,347 2,153 5,993 7,426 2,113 6,179 7,502 2,056 6,341 7,579 2,041 6,527 10,552.0 10,780.2 10,533.9 10,896.5 '10,688.4 11,508.9 11,425.9 11,658.7 11,119.2 11,815.7 '11,770.0 '12,369.5 12,311.6 4, 668. 1 4, 899. 8 4, 824. 0 5, 016. 1 4, 825. 9 5, 477. 4 5, 309. 7 5, 356. 8 4, 903. 9 5, 202. 8 '5,147.4 5, 704. 9 5, 613. 7 5,883.9 5,880.5 5,709.9 5,880.3 5,862.5 6,031.5 6,116.2 6,301.9 6,215.3 6, 612. 9 '6.622.6 '6, 664. 7 6, 697. 9 2, 502. 9 2, 497. 4 2, 420. 1 2, 480. 1 2,453.5 2,524.1 2,505.3 2,597.1 2, 773. 9 2, 765. 2' 2, 773. 92, 795. 7 2, 815. 3 3,381.0 3,383.0 3,298.8 3,400.2 3,408.9 3,507.4 3, 610. 9 3,704.8 3, 641. 4 3, 847. 7 ' 3, 848. 8'3,869.0 3, 882. 5 do.... do. do Federal Reserve banks, condition, end of period: Assets, total 9 mil $ 7,101 1,852 5,489 88, 541 90, 681 90, 357 91, 210 92, 945 91, 899 92, 154 p 93, 755 64, 900 308 61, 783 65, 616 264 62, 462 67, 387 391 64,160 66, 665 81 63,721 69, 757 1,051 65,764 68, 565 446 65, 518 69, 285 778 65, 841 70, 094 '858 66,868 71,013 198 67, 566 10, 464 10, 464 10, 464 10, 475 10, 075 10, 075 10, 075 9, 875 9,875 92, 945 91,899 92, 154 p93, 755 88, 277 do 84, 050 90, 157 87, 366 86, 609 88, 464 90, 157 88, 277 88, 541 90, 681 90, 357 91,210 Deposits, total Member-bank reserve balances do do 24, 338 22, 085 26, 687 24, 150 26, 037 23, 938 26, 007 24, 206 24, 104 22, 689 26, 687 24, 150 26, 384 24, 508 26, 401 24, 409 27, 748 25, 895 26, 949 24, 735 27, 604 25, 494 26, 701 24, 540 27, 345 25,311 27, 187 25, 409 28,467 25, 422 Federal Reserve notes in circulation do 48, 244 51,386 49, 128 49, 314 50, 390 51, 386 50, 206 50, 200 50, 593 50, 889 51, 485 52, 228 52, 619 52, 829 52, 830 Liabilities, total 9 ' Revised. p Preliminary. JMonthly data prior to 1969 will be available later. Revision for Aug. 1970 (1967=100), 89. ASee note "if", p S-14. §Beginning Jan. 1970, data include claims filed under extended duration provisions of b regular State laws. « Excluding data for N.H. and Conn. Excluding data for N.H., R.I., and Conn. cflnsured unemployment as % of average covered employment in a 12-month period. OTotal SMSA's include some cities and counties not designated as SMSA's. llncludes Boston, Philadelphia, Chicago, Detroit, San Francisco-Oakland and Los Angeles-Long Beach. 9 Includes data not shown separately. SURVEY OF CURRENT BUSINESS November 1971 1970 1969 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS End of year S-17 1970 Sept. Oct. 1971 Nov. | Dec. Jan. Feb. Mar. Apr. May June July 30 547 rr30 455 30 385 30r 257 198 162 -804 820 658 r 606 Sept. Aug. Oct. FINANCE—Continued BANKING- Continued All member banks of Federal Reserve System, averages of daily figures: Reserves held, total mil. $ i 28, 031 i 29, 265 Required - - - --do __ i 27, 774 i 28, 993 1257 i 272 Excess _ _ _ - - . _ _ _ . _ _ _ ..do. _ _ Borrowings from Federal Reserve banks _ _ . do » 1, 086 1321 i —49 i -829 Free reserves do 28 825 28, 553 272 607 — 335 28 701 Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or ino.:J Deposits: Demand, adjustedcf- _ _ _ mil. $_ 80 407 80 780 _ do 2 96, 589 2 do do 2 2 46, 490 36, 502 do do do do Commercial bank credit (last Wed. of mo., except for June 30 and Dec. 31 call dates) , seas, adj.: Total loans and investments© nil $ LoansO do U.S. Government securities do Other securities do .. 48 035 2 51 650 46 811 47 540 9 47 013 49 086 29 265 28 993 272 321 49 30 488 30 209 279 370 —91 29880 29,679 201 328 — 127 29 686 29 487 199 319 — 120 29 885 29 745 140 148 —8 30 419 30 107 312 330 — 18 30023 83086 87 739 82,284 81 234 82 590 82, 275 84 927 83 921 r 116 426 119 443 123, 102 125 842 129 175 129 338 47 475 48 035 49 145 50 458 52 973 53 043 50 376 51 650 53 770 54*889 55 544 54' 7Q7 64 851 24, 793 20 598 40 058 66 319 25, 593 20 720 40 726 423 287 57 78 424 4 287 3 56 3 80.8 401. 3 278 1 51.9 71.3 2 2 2 435 i 2 290 5 2 58 5 2 86.0 Home mortgage rates (conventional 1st mortgages): New home purchase (U.S. avg.) percent-Existing home purchase (U.S. avg.) do Open market rates, New York City: Bankers' acceptances (prime, 90 days) do Commercial paper (prime, 4-6 months). .do Finance Co. paper placed directly, 3-6 mo. do Stock Exchange call loans, going rate do 428 288 56 83 2 4 7 1 53 535 55 732 !41 222 '96,346 r 6 378 r 5 636 r 21 235 53 658 56 532 r 53 145 52 693 r52 607 57 210 r58 154 r 59 051 177 240 177,206 180 002 81 909 81 208 7 012 7 314 13 996 13 278 3s) 087 34 553 0 994 4 48, 935 50 794 182 830 180 753 185 343 r!86 348 82 521 81 830 82 951 r83 741 7 590 6 729 7 715 r 7 744 14 784 13 713 13 966 r 10 548 35 628 36 149 36 727 r 37* 183 49 986 50 605 53 296 r ^Q. CQ9 7K K1 K 76 338 26,623 22 434 49 715 75 152 25,397 21 850 49 755 458 299 62 96 461 3 301 7 6i 8 97 9 73 229 28,268 22 322 44 961 73 618 27, 593 22 361 46 025 47 455 74 883 25, 453 21 652 49 430 435 290 58 86 438 9 292 0 58 7 88.2 444 295 59 89 448 295 61 99 453 298 60 95 6 ° 9 6 82 841 144 435 100, 482 6 H2 3 551 22 731 131 127 13] 890 132 954 134 070 r!36 148 137 160 72 194 28, 061 2i 983 44 133 i 5 5 0 82 116 75, 678 28, 060 '26, 569 99 ocx 6 2 4 o no 7 9 9 0 o 7 2 9 6 74 250 -7K 1Q1 24, 934 r 25, 094 22 122 T 99 400 49 316 T 50 097 466 307 61 97 5 4 6 Q 53 605 60 305 185 83 7 13 37 51 993 070 788 202 547 861 77 238 26, 197 23 350 51 041 99 o 473 9 313 7 59 2 101 0 47O 1 en 7 3 8. 48 38.22 3 8. 86 8.07 7.74 8.47 56.75 6.27 7.18 66.58 6.26 6.80 38.24 37.93 38.19 38.18 3 3 3 3 8. 46 8. 44 8. 52 8. 49 8.05 8.15 8.08 8.16 6.83 7.04 6.72 6.81 6.65 6 88 6 59 6 63 5.50 6.00 6.00 5.75 5.50 5.00 4.75 4.75 4.75 4.75 4.75 5.00 5.00 5.00 5.00 37.23 3 8. 50 8.51 8.30 8.08 7.86 7.64 7.24 6.80 6.35 6.11 6.05 6.01 6.00 5.99 5.99 37.66 37.68 3 3 8. 27 8. 20 8.31 8.27 8.33 8.20 8.26 8.18 8.20 8.12 8.03 7.94 7.74 7.67 7.52 7.47 7.37 7.34 7.36 7.33 7.38 7.38 7.51 7.50 7.60 ' 7.58 7.66 7.63 4 4 4 7.31 7. 72 47.23 4 7. 95 7 03 7.32 7.12 7.90 6 54 6.85 6.76 7.75 5 79 6.30 6. 36 7.40 5 32 5.73 5.48 6.92 4 77 5.11 5.07 6.28 4 09 4.47 4.37 5.88 3 80 4.19 4.05 5.49 4 36 4.57 4.27 5.32 4 91 5.10 4.69 5.50 5 33 5.45 5.24 5.50 5 60 5.75 5.54 5.93 5 57 5.73 5.57 6.00 5 49 5.75 5.44 6.00 5 05 5.54 5.30 6.92 6. 458 4 7 37 6.244 5.927 7 06 5.288 6 37 4.860 5 86 4.494 5 72 3.773 5 31 3.323 4 74 3.780 4.139 4.699 (\ 3fi 5.405 6 77 5.078 4.668 4. 489 7. 61 47.83 * 7. 16 4 7.96 4 70 017 27,364 21 868 42 653 83 819 38.21 38.02 3 8.53 6.00 do 7 3 6 8 30 840 p30, 851 30 592 30, 656 195 248 501 360 — 165 253 r 2 2 2 2 2 2 131 453 322 84 696 173 826 174 487 180 429 175 201 175 635 79 968 80 132 81 693 80 039 80800 7 292 6 436 6 915 7 153 8 560 12 573 12 604 13 642 12 617 12 41? 34' 065 34*059 34 -Q35 34 284 34 416 47 025 49 013 50 906 48 093 49 007 59 536 2 72 194 23, 853 22 28, 061 19, 789 21 983 35, 683 2 44 133 29 892 139 560 147 355 138 249 135 249 146 456 141 474 143 628 152 998 139 726 145 012 96,854 103, 149 94,883 93,744 99, 265 97, 099 100,703 102,160 97,291 99, 579 6 150 6 460 6 808 6 774 6 483 6 957 7 623 6 601 7 228 6 353 4 380 2 738 4 220 6 563 4 320 2 873 5 328 3 899 4 838 5 833 20 752 21 704 19,651 20 175 24 704 20 750 22 045 24 975 20 831 21 937 175 6 7 81 154 6 091 13 229 33 939 46 574 do do .do do Yield on U.S. Government securities (taxable): 3-month bills (rate on new issue) percent 3-5 year issues. do 119, 443 113 635 114 820 2 28, 558 28,432 120 425 —305 429 175 756 693 81, 491 2 560 7,811 2 13, 642 13, 148 2 33, 617 2 34, 035 2 44 177 2 50 906 2 Discount rate (N.Y.F.R. Bank), end of year or month percent-Federal intermediate credit bank loans 87, 739 462 — 208 147,355 140 018 131 032 103,149 94, 516 92, 376 2 6 774 7 682 5 925 2 4, 380 3 722 5 798 2 21, 704 20 962 19 382 2 180 2 81, 2 8, 2 2 Money and interest rates: § . Bank rates on short-term business loans: In 35 centers percent per annum,. New York City... do 7 other northeast centers do 8 north central centers 7 southeast centers 8 southwest centers 4 west coast centers 2 150 897 105,605 2 7, 942 2 2, 989 2 20, 801 Loans (adjusted) , totald" do Commercial and industrial _ _ .. . do For purchasing or carrying securities do To nonbank financial institutions do Real estate loans. _ _. _ d o Other loans do Investments, total U.S. Government securities, total Notes and bonds.Other securities.. ___ 90,288 2 2 Demand, total 9 do Individuals , partnerships , an d corp do State and local governments do U.S. Government do Domestic commercial banks _ . __do Time, total 9 Individuals, partnerships, and corp.: Savings Other time. _ _ _ 2 2 2 28,447 254 6. 677 6 85 4 4 7 24 5 49 6.00 5 66 6 25 6.50 6 25 6 75 5 6 6 6 6 6 6 6 6 95 37 17 12 H9 45 73 60 56 fi QA 5 Qfi C CO CONSUMER CREDIT (Short- and Intermediate-term) Total outstanding, end of year or month mil. $.. 122, 469 126, 802 123, 907 23, 866 123,915 126, 802 125, 077 123,815 123, 604 125, 047 126, 025 27, 388 28, 354 29,704 30, 644 101 161 100 142 99 959 99 790 101 161 100 101 99 244 99 168 OH H98 HO fiQ9 01 862 02 848 04 Ofif) 04 Q73 36 738 28, 055 4,123 31 226 36 518 28, 152 4,126 31 163 36 Oil 28, 378 4,133 31 268 35 490 29, 949 4,110 31 612 35 004 29, 575 4,067 31 455 34 869 28, 928 4,051 31 396 35 028 28, 591 4,045 31 504 qc AHA 36 763 29, 165 4,240 32 680 07 qco 39 (\A-\ 36 349 28, 976 4,186 39 351 07 i KA 28, 682 4,077 31 773 QC 819 28, 706 4,126 29, 477 4, 295 oo 1 34 29, 840 4,330 87, 064 41 395 31, 123 87, 471 42 051 31, 510 87, 243 42 010 31, 309 86, 820 41 740 31, 081 87, 064 41 8% 31,123 86, 308 41 611 30, 791 85, 910 41 446 30, 511 86, 015 41 563 30, 326 86, 805 42 094 30, 369 87, 491 42 48? 30, 441 88, 544 43 Oil 30, 609 89, 458 43 509 30, 906 90, 536 44 112 31,098 91, 279 44 fi03 12 500 1,546 12 409 1,501 12 422 1, 502 12 438 1,561 12 500 1,546 12 353 1,553 12 351 1,602 12 509 1,617 12 686 1,656 19 874 1,694 13 206 1,718 13 296 1,747 13 570 iq 700 1,756 1,763 Retail outlets, total do 13 187 14 097 12 671 19 716 12 970 Automobile dealers do 336 332 327 337 335 T Revised. p Preliminary. 2 ^Average for Dec. Beginning June 1969, data are revised to include all bank-premises subsidiaries, and other significant majority-owned domestic subsidiaries; also, loans and investments are now reported gross. For complete details see the Aug. 1969 Federal Reserve Bulletin. s Average for year. * Daily average. s Revised series. Feb. 1971 data on old basis are in Jan. 1971 column; details are in June 1971 Federal Reserve Bulletin. {Revisions for Jan. and Feb. 1970 are in the Mar. 1971 Federal Reserve Bulletin, cf For demand deposits, the term "adjusted" denotes demand deposits other than domestic commercial bank and U.S. Government, less cash items in process of collection; for loans, 14 Oc>7 327 13 793 324 13 334 323 13 153 325 13 223 330 13 201 13 318 13 390 1 3 ^94 1 3 RQ4 344 339 344 347 340 Installment credit, total do 98 169 Automobile paper Other consumer goods paper Repair and modernization loans Personal loans do do do do 36 602 27,609 4,040 29 918 35 490 29, 949 4,110 31 612 By type of holder: Financial institutions, total Commercial banks. Finance companies^ do do do 84, 982 40 305 31, 734 Credit unions, Miscellaneous lenders f do do 11 594 1,349 http://fraser.stlouisfed.org/ 448wf)C)1 O - 71 _ Federal Reserve Bank of St. Louis oq A90 31, 133 exclusive of loans to and Federal funds transactions with domestic commercial banks and after deduction of valuation reserves (individual loan items are shown gross; i.e., before deduction of valuation reserves). 9Includes data not shown separately. ©Adjusted to exclude interbank loans: beginning June 1969, data are reported gross. §For bond yields, see p. S-20. ^Finance companies consist of those institutions formerly classified as sales finance, consumer finance, and other finance companies. Miscellaneous lenders include savings and loan associations and mutual savings banks. November 1971 SURVEY OF CURRENT BUSINESS S-18 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1970 1969 1971 1970 Oct. Sept. Annual Nov. Dec. Feb. Mar. Apr. May June July Aug. Sept. 24 976 9 48fl 8,196 1,284 24, 571 9 506 8,205 24, 436 9 557 8,249 25, 019 9 676 8,350 25, 333 9 765 8,425 25, 526 9 862 8,512 25. 506 9 854 8,498 25, 644 9 997 8,633 25, 671 10, 061 8,694 7 °,"^ 7 207 5,316 1,891 7,672 7 689 5,774 1,915 7,654 8 004 6,046 1,958 7,564 8 214 6,199 2,015 7,450 8 271 6,173 2,098 7,381 8 305 6,120 2,185 7,342 8 305 6,101 2,204 7,305 9,575 3 H74 3,076 3,425 10, 079 9,562 3,363 3,616 3,148 3,531 10, 667 3 301 3,538 3,828 10,098 3 032 3,415 3,651 10, 300 3 066 3,465 3,769 9,849 2 927 3,454 8,898 9 (".fin 3,124 3,214 9,497 2 771 3,268 3,458 9,112 2 618 3,226 3,268 9,088 2 675 3,153 3,260 8,936 2 698 3,091 9 690 9 715 9 675 2 773 3 399 3 503 10 049 3 004 3 465 3 580 10 156 3 147 3 462 3 547 9,222 2 697 3 262 9,1579 2 73 3 172 3 253 I K ceo IQ 710 18 265 1 444 Jan. Oct. FINANCE—Continued CONSUMER CREDIT— Continued Outstanding credit— Continued IN omnaiaiimeiii credit , loiai Commercial banks Other financial institutions Retail outlets Credit cards Service credit 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 Seasonally adjusted: Extended total Automobile paper Other consumer goods paper All other Repaid total Automobile paper Other consumer goods paper All other _ _ i 94 3Q0 do do 7,900 1,196 do do do 23 765 1,254 24 125 9 345 8,071 1,274 25 641 9 0-1 O 8,059 23 907 1,279 9 0-1 c 8,062 1,254 6,650 1,584 6,970 6,932 1 918 7,307 5,617 1,872 6,960 5,797 1,859 6,938 7 7<"i7 5,884 1,873 7,023 8 OK ft 6,932 1,918 7,307 6,144 1,950 7,402 5,435 1,918 7,712 102, 888 do do _do._ _ 33, 079 37, 455 do 104, 130 8,580 8,670 8,271 10, 194 7,545 7,489 36, 781 37, 518 3,097 3,081 94, 609 101, 138 30, 369 34, 358 34, 441 35,754 do _.do do . do 9' 484 8,205 do do do do do do do do i igy 784 i 193 743 i 183 072 1 194 460 1 4,712 1 —716 ' — I 476 1 —2 128 9 484. 8,205 1,279 3,200 3,007 3,147 3,118 4,562 3,587 2,868 2,680 8,298 8,853 8,440 8,823 8,605 8,346 9,651 9,219 2,843 2,883 3,103 3,067 2,921 3,006 2,991 3,266 3,242 2,880 3,078 2,797 3,413 3,323 3,272 3,315 8,580 2,349 3,113 3,118 o 414 0 8,849 2,621 3,071 3,157 9 9 533 9 751 8,490 2,599 2,913 2,978 do do do do FEDERAL GOVERNMENT FINANCE Budget receipts, expenditures, and net lending: J Expenditure account* Receipts (net) mil $ Expenditure (excl net lending) do Expend acct surplus or deficit ( — ) do Loan account* Net lending do Budget surplus or deficit ( — ) Budget financing total t Borrowing from the public Reduction in cash balances 25 641 Q OQfi 8,662 2,550 3,036 3,076 8,716 CO£> 8,515 ftQ1 8,979 3,145 18, 725 11,493 14, 134 17, 329 17, 490 16, 616 1,396 -5, 997 -2, 482 -112 -150 -114 15, 429 15, 876 -447 196.9 94.9 191.5 92.2 191.3 89.7 Indirect business tax and nontax accruals. do Contributions for social insurance do 19.0 46.8 19.3 49.3 19.7 50.0 189.5 99.2 78.4 52.4 20.3 13.1 205.1 97.2 75.4 63.4 24.4 14.6 206.7 96.1 74.2 64.6 24.9 15.0 •iq fi 0-1 •1 C Q A 0Q7 3 49fi 9,038 2 879 3 4R4 2 CQR 9,088 2 Kfifi o 1 70 O 97Q 3 9K r 9 7("ifi 3 9QC 3 A°.Q 3 9,197 2 R4A 9,190 2 3 °. 4ft 8,914 2 565 3 203 3 146 o fino 13 198 18 507 5 309 9 R°,S. o 400 444 £78 4Q 326 K 3 236 i —2 845 1,281 -6, 147 -2, 594 2,594 6,147 i — 3 236 i1 2 845 -1,281 3,024 2,561 3,306 »—ll,146 5 399 -1,347 -712 -2,903 3,586 66 i 7, 910 i—2 554 Receipts and expenditures (national income and product accounts basis), qtrly. totals seas. adj. at annual rates: Federal Government receipts, total bil. $_. Personal tax and nontax receipts do 2 K IOQ 1 i 367, 144 1 382 603 390, 335 391, 840 Gross amount of debt outstanding^ do Held by the public do i 279 483 i 284 880 292 246 294, 808 298, 113 301, 138 Budget receipts by source and outlays by agency :t Receipts (net) total mil $ 1 187 784 11193 743 18, 725 11,493 14, 134 15, 429 7,181 6,209 6,110 i 87,249 Individual income taxes (net) do 90 412 9,449 524 4,484 669 4,278 • 36, 678 i 32 829 Corporation income taxes (net) do Social insurance taxes and contributions 4,108 2,545 2,697 2,962 (net) mil $ •39,918 1 45 298 2,322 1,717 2,018 2,036 i 23,940 i 25 203 Other do 15, 550 17, 640 17, 443 1 184,548 1 196,588 Expenditures and net lending, total? do 695 353 1,157 304 i 8, 330 1 1 8 307 Agriculture Department do 1 6,521 6,140 Defense Department, military do 77,872 77, 150 6,160 Health, Education, and Welfare Department 4,758 5,037 4,886 mil. $,. 1 46,594 1 52, 250 4,866 1,854 1,699 1,264 1,818 i 116,924 i 19 510 Treasury Department do 266 318 302 282 4, 247 !3 749 National Aeronautics and Space Adm do 806 765 719 i 7, 669 i 8, 653 Veterans Administration do Federal Government expenditures, total... do Purchases of goods and services do National defense ..do.. . Transfer payments do Grants-in-aid to State and local govts do Net interest paid do Subsidies less current surplus of government 8,829 2,431 2,722 9 88°^ A A] c AA-\ 3 9ftfi 3 206 o ne-i 9 °.°.4 Qfi1 o oo i 3 4 403 863 403 742 408 736 orjo 71 Q 15, 773 15, 130 13, 205 3 21, 024 13, 190 COO 4,970 2 4 no 6,366 191 18 646 320 17 818 281 17 152 437 5,049 1,803 5,374 1,869 5,943 886 4,998 1,785 a OAQ QOO Qfi9 6 041 5,226 1, 816 9 °^"^ 5 80Q 5,143 1,819 974 881 3 624 306 69 — 5 358 3 930 3 930 1 513 fi or 4. o 004 —2 003 490 415 677 424 990 422, 163 308 554 315 408 313 406 22, 449 13, 198 6 519 *879 15, 652 6 920 453 19, 710 9 192 4,306 3,773 3,464 2 336 5,996 2 282 3,784 2,428 9ft 1 1 *\ 18 556 2,054 5 047 19 582 1,432 5 482 18, 196 680 5,764 5,418 1,739 377 796 5, 488 1,837 291 893 5,152 1,893 273 755 fi9°. 3,990 2 ooc 2,720 40Q 4fiS °.fi4 fi°.S 1 Q 97fi 49 4 226 I 132 ijca o o«q 353 7,175 1,776 874 189.3 91.0 29 0 19.4 49.8 195.6 87.6 34.2 20.6 55.0 198.3 88.4 33.4 20.6 55.9 p 202. 6 ••90,0 P33.9 r 21.8 P56.9 209.8 95.9 73.2 213.2 96.7 73.0 25.9 14.8 27.3 14.0 220.9 95.7 71.8 77 5 29.5 13.4 »• 223. 9 ••97.4 ••70. 8 *77.6 ••30.1 ' 14.0 57 57 4.8 '4.9 Q o —20 5 — 17 5 .0 -22.6 p-21. 2 RQ fi .0 LIFE INSURANCE Institute of Life Insurance: 215. 28 11.03 95.68 74.58 69.02 216 44 11.08 96 43 74.71 69.12 217.49 11.00 97.20 74.80 69.21 6.59 16.44 1.40 9. 29 6.64 16.52 1.46 9.31 6.73 16.59 1.38 9.29 6.75 16.68 1.44 9.35 6.81 16.78 1.46 9.44 207 25 11.07 88 52 74.38 68.73 208 21 11.03 90 13 74.37 68.78 209 88 11.13 211 50 11.02 212. 70 10.95 213 41 10. 95 73 58 67 92 205 91 11.19 88 15 73.89 68.23 74.44 68.87 74.52 68.97 74.54 68.99 6 21 15 70 1.43 8.74 6.26 15 84 1.42 8.76 6.28 15.95 1.57 8.86 6.32 16.06 1.76 9.15 6.34 16.11 1.29 8.94 6.45 16.22 1.58 9.03 6.48 16.29 1.56 8.99 6.54 16.37 1.37 9.18 10 91 11 07 90°. si 11.10 Nonfarm do 72 03 66 25 74 38 68 73 Real estate do Cash Other assets do do ._ 5 91 13 82 1.63 8.33 6 32 16 06 1.76 9.15 ••1 Revised. *> Preliminary. Data shown in 1969 and 1970 annual columns are for fiscal years ending June 30 of the respective years; they include icvisicrs rot distributed to months. 74.55 69. 00 214. 28 10. 79 95. 03 74.54 68. 97 204 76 11.12 87 59 73.78 68.10 do Government securities* t Revisions for July 1967-Apr. 1969 for budget receipts and expenditures and for Jan.-Mir. 1969 and Jan.-May 1970 for assets of all U.S. life insurance cost will be shown later. 9 Includes data for items not shown separately. *New series. SURVEY OF CURRENT BUSINESS November 1971 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1970 1969 Annual S-19 1971 1970 Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. FINANCE— Continued LIFE INSURANCE— Continued Institute of Life Insurance — Continued Payments to policy holders and beneficiaries in U S , total mil. $ Death benefits do Matured endowments. _. _ _ ._ _do_ _. Disability payments do Annuity payments do Surrender values. _ _ . . _ do . Policy dividends -_ _do_ __ Life Insurance Agency Management Association: Insurance written (new paid-for insurance) :t Value, estimated total _ _ . _ mil. $. Ordinary (incl. mass-marketed ord.) do___ Group. _ _do Industrial., . _ _ _ _. do Premiums collected: Total life insurance premiums do Ordinary (incl. mass-marketed ord.) do__ Group __ . do-_. Industrial _ . do 15, 524. 5 16, 449. 4 1, 348. 1 1, 329. 9 1,231.2 1, 810. 9 1, 286. 2 1, 328. 3 1,571.7 1, 414. 4 1, 353. 7 1, 430. 0 1, 326. 7 1, 348. 6 1, 466. 5 6,758.1 7, 017. 3 567.9 550.5 681.9 567.8 609.5 638 1 565.6 591.5 702.0 519.1 611.1 635.7 592.8 952.6 978.3 77.0 81.4 81.6 84.8 73.7 80 9 80.0 95.6 85.4 78.5 76.3 87.7 81.9 204.7 232.9 21.6 20.7 18.2 18.8 17.6 25.2 20.1 23.6 23.8 19.7 20.5 19.9 20.1 1, 558. 6 1, 757. 1 146.1 122.1 160.4 164.2 161.0 154.5 166.7 168.6 148.7 161.3 157.4 149.7 164.9 2, 721. 6 2, 886. 4 235.8 222.3 229.4 233.0 241.2 232.9 262.7 275.6 231.5 216.9 249.7 243.5 234.3 3, 328. 9 3, 577. 4 299.7 247.5 268.9 293.5 645.0 321.8 283.9 254.7 308.0 246.5 284.7 275.3 267.2 159, 283 113, 500 39, 329 6,454 18,933 13, 142 3,492 1,299 2 193, 593 122, 661 264, 422 6,510 14, 075 9,652 3,860 563 14,065 10, 620 2,864 581 14, 758 10, 506 3,729 523 21, 853 12, 325 9,031 497 19, 940 14, 912 3,753 1,275 1,475 1,154 321 91 1,708 1,308 305 95 1,596 1,198 304 95 2,082 1,457 392 234 11,117 -328 330 27, 115 11,117 -6 253 14, 536 11,117 -27 618 62, 760 96.2 6.6 96.6 6.9 1,888 5,301 1.802 MONETARY STATISTICS Gold and silver: Gold: Monetary stock, U.S. (end of period) ...mil. $.. 10, 367 10,732 Net release from earmark §. _ .. do 755 -615 Exports _ thous $ 12, 287 37, 789 Imports . _. do 236, 905 237, 464 Production: South Africa mil. $ 1, 090. 7 1, 128. 0 Canada . .do 89.1 81.8 United States do 60.1 Silver: """" """ Exports _ thous $ 1 1156, 720 27, 613 Imports do 80, 061 64, 957 Price at New York dol per fine oz 1.791 1.771 Production: Canada thous. fine oz1. 41, 926 Mexico _ do 42, 904 United States do 41, 552 47,483 Currency in circulation (end of period) bil. $_. Money supply and related data (avg. of daily fig.) :© Unadjusted for seasonal variation: Total money supply.__ bil $ Currency outside banks do Demand deposits _ do Time deposits adjusted^ do U.S. Government demand deposits! do Adjusted for seasonal variation: Total monev 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: Total (233 SMSA's) Q__ratio of debits to deposits New York SMSA do Total 232 SMSA's (except N.Y.) do 6 other leading SMSA'stf . do 226 other SMSA's do PROFITS AND DIVIDENDS (QTRLY.) Manufacturing corps. (Fed. Trade and SEC): Net profit after taxes, all industries. . mil $ Food and kindred products do Textile mill products do Lumber and wood products (except furniture) Paper and allied products "do Chemicals and allied products do Petroleum refining "do Stone, clay, and glass products do Primary nonferrous metal do Primary iron and steel do Fabricated metal products (except ordnance, machinery, and transport, equip.) .. mil $ Machinery (except electrical) do Elec. machinery, equip., and supplies... do Transportation equipment (except motor vehicles, etc.) mil. $_. Motor vehicles and equipment do All other manufacturing industries doIII" Dividends paid (cash) , all industries do Electric utilities, profits after taxes (Federal Reserve) mil $ 12, 194 8,828 2,832 536 12,580 9,615 2,401 564 17, 020 11,895 4,503 622 16, 237 11, 015 4,487 735 14,713 10, 537 3,488 688 16, 273 11,344 4,294 635 14, 097 10, 259 3,296 542 17,299 10, 767 5,970 562 15, 580 10, 499 4 490 591 10, 732 -282 10, 671 14, 223 10, 732 -32 15, 473 10, 411 10. 732 -23 2,379 37, 721 10, 732 -76 9,774 20, 296 10, 732 -38 2,614 20, 795 10, 332 -352 10, 430 35, 386 10, 332 -62 3,564 18, 469 10, 332 -50 1,955 7,259 10, 332 -262 2,861 48, 001 10, 132 94.4 6.5 89.7 6.8 91.3 7.0 89.6 6.6 94.3 6.7 91.9 6.5 91.5 6.7 '92.0 6.7 93.4 5.8 92.3 6.3 1,079 4,419 1.746 1,277 3,763 1.760 5,890 4,876 1.635 4,218 5,267 1.640 1,970 2,746 1.600 3,273 5,204 1.669 2,661 5,907 1.726 1,527 2,900 1.667 1,269 3,785 1.608 913 3.645 1.581 651 4,655 1.587 1, 580 4,134 1.421 3,380 3,707 4,262 3,735 3,336 5,280 4,699 3,535 3,985 3,867 1,016 1,718 54.0 57.1 54.8 55.0 56.4 57.1 55.3 55.6 56.3 56.6 57.4 58.4 58.6 58.9 58.8 201.5 44.8 157.0 198.8 5.6 210.0 47.7 162.3 208.4 6.4 211.4 48.2 163.1 218.4 6.8 213.0 48.5 164.5 222.5 6.1 215.3 49.2 166.1 224.6 5.6 221.1 50.0 171.1 228.7 7.1 221.3 49.1 172.1 234.5 6.6 215.5 49.2 166.3 240.3 8.3 217.4 49.5 167.8 246.9 5.4 222.2 50.1 172.1 249.2 5.5 219.7 50.5 169.2 252.1 7.8 223.6 51.1 172.5 254.4 5.4 225.8 51.9 173.9 256.4 6.8 224.7 51.9 172.7 259.1 6.8 225.7 52.0 173.8 261.4 '7.5 212. 8 48 2 164.6 218.5 213.0 48.5 164.5 222.2 213.5 48.7 164.8 225.0 214.6 48.9 165.7 230.4 214. 8 49.2 165.5 235. 3 217.3 49.6 167.7 240.9 219.4 50.0 169.4 246.1 221.1 50.5 170.5 248.3 223.9 50.9 173.0 251.4 225. 6 51.2 174.4 254.4 227.5 51.7 175.8 256.8 228.0 51.8 176.2 258.2 75.3 161.0 53.0 77.9 42.8 78.1 175.9 53.4 78.4 43.2 75.6 168.5 51.6 75.8 41.8 77.0 170.6 52.4 76.7 42.6 76.3 168.3 52.6 76.8 42.9 82.0 191 3 54.0 79.5 43.9 79.5 183.5 53.3 76.5 44.1 80.5 185.6 54.4 78.7 44.7 76.6 171.2 53.4 77.9 43.7 80.1 179.3 55.8 82.4 45.3 79.8 178. 9 55.7 82.7 '45. 2 83.7 198.7 56.0 83.4 '45.3 33, 248 2,382 621 28, 572 2,549 413 6,973 701 110 6,739 664 98 6,995 612 93 8 525 700 151 640 987 3,591 5,884 822 1,414 1,221 304 719 3,434 5, 893 627 1,297 692 93 161 849 1,437 225 280 154 55 136 799 1,633 157 234 110 88 128 907 1,524 69 210 204 160 156 1,015 1,390 289 256 351 1,326 3,138 2,594 1,066 2,689 2,349 290 657 556 187 621 676 226 520 542 330 648 663 945 2,845 4,835 15, 058 593 1,424 4,522 15,070 138 60 1,263 3,405 115 99 1,153 4,025 101 867 903 3,805 182 937 1,298 3,882 10, 132 434 22, 732 1.336 P 226. 8 52.2 174.6 265.3 5.2 227.3 P 226. 8 52.2 52.0 ' 175. 4 174.6 265.0 261.6 83.0 191.7 56.3 84.0 45.4 3,186 SECURITIES ISSUED Securities and Exchange Commission: Estimated gross proceeds, total By type of security: Bonds and notes, total.. Corporate . Common stock. Preferred stock Preliminar be shown lIterC°m' y. mil $ 52, 747 " 88, 665 8,199 8,353 9,040 7,651 7,438 6,523 11,070 7,244 6,969 10, 994 do "do do do 44, 351 18, 348 7,714 682 79, 985 30, 264 7,292 1.388 7,495 2,814 528 17fi 7,270 2,694 903 8,142 3,283 774 6,941 3,270 541 ifift 6,949 2,627 413 5,998 2,476 424 inn 9,777 2,782 982 •J1 1 5,825 2,623 882 6,337 2,638 579 9,661 3,042 1,228 iru ISO l Monthly data beginning July and annual total figures Includes $17 2 bil SGLL ' tRe^.sions for Jan. 1968-Feb. 1969 will Trl?^inCrHaS^in earmarked g°ld (-)• eBeginning Dec. 1970 SURVEY, data reflect new benchmarks and changes in seasonal factors, as well as the improved handling of international 194 7ft 537 <A r 9, 316 ' 9, 346 9,445 '7,120 ' 8, 659 8,250 2, 573 ' 1, 951 ' 1, 844 669 1,030 '418 1 K07 97O IRS transactions of specialized banking institutions. Revised monthly data back to 1959 will be available later. ^[At all commercial banks. OTotal SMSA's include some cities and counties not designated as SMSA's. ^Includes Boston, Philadelphia, Chicago, Detroit, San Francisco-Oakland, and Los Angeles-Long Beach. SURVEY OF CURRENT BUSINESS S-20 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1969 1970 Annual November 1971 1971 1970 Sept. Oct. Nov. Dec Jan. Feb. Mar. Apr. May June July Aug. Sept. FINANCE—Continued SECURITIES ISSUED— Continued Securities and Exchange Commission— Continued Estimated gross proceeds— Continued By type of issuer: Corporate total 9 mil $ ivlanufacturing do Extractive (mining) do Public utility do 26, 744 6,356 1,721 6.736 38, 944 10, 513 2,082 11,017 3,518 994 193 1,241 3,777 1,006 180 1,101 4,182 1,107 186 1,350 3,980 1,056 90 955 3,115 716 118 676 3,000 661 84 1,069 6,075 2,417 111 1,452 4,042 1,135 109 1,267 3,271 789 100 588 4,375 1,206 174 1,055 ' 4, 147 ••582 ••111 ••732 '2,532 97 849 3,768 1,146 90 1,070 do do do 2,146 2,188 4,409 2,280 5,142 5,497 145 445 347 138 371 586 177 693 580 365 282 968 167 391 667 89 683 314 161 532 1,038 335 273 591 339 405 876 297 218 813 '219 1,622 ••643 '88 '359 ••511 149 282 704 do do do 26, 003 4,765 11, 460 49, 721 14, 831 17, 762 4,681 1,428 1,650 4,576 412 1,882 4,858 2,414 1,684 3,671 402 2,245 4,323 436 2,614 3,522 431 1,823 4,995 517 2,104 3,202 467 1,859 3,698 466 2,114 6,619 2,779 1,988 ' 5, 169 1, 153 1,951 do do 11,460 11, 783 17, 762 17, 880 1,650 2,049 1,882 1,216 1,684 2,022 2,245 2,254 2,614 1,552 1,823 1,886 2,104 2,452 1,859 2,482 2,114 1,840 1,988 2,932 1,951 1,353 1,850 1,882 mil $ do do 1923 i 7, 445 i 2, 803 1 2 2, 286 2,236 2,163 2.197 2,286 2,452 2,743 2,798 2,660 2,500 2,440 2,210 2,200 2,100 Prices: Standard & Poor's Corporation: High grade corporate: Compositecf ._ _ dol. per $100 bond Domestic municipal (15 bonds) do 68.6 79.0 61.5 72.3 60.8 72.7 61.3 71.9 61.9 75.0 64.7 79. 8 66.5 79.9 66.8 81.5 65.8 82.8 65.0 80.4 63.7 75.6 63.5 74.8 63.2 74.0 63.4 77.4 64.2 81.7 65.2 84.7 64.49 60.52 60.10 60.44 63.27 65.63 66.10 66.78 67.94 67.57 65.72 65.84 66.16 67. 33 69.35 70.33 4,501.18 4, 763. 27 5, 123. 47 6, 299. 55 400. 69 516. 87 417. 18 538. 59 398. 18 506. 43 648. 58 828. 96 703. 09 866. 98 710. 03 843. 48 766. 76 879. 80 766. 33 877. 50 761. 07 891. 01 667. 64 798. 58 603.44 702. 30 678. 45 789. 83 758. 11 860. 88 3, 550. 33 4, 328. 33 4, 123. 33 5, 554. 92 358. 08 443. 37 382. 93 485. 02 370. 35 460.35 605. 01 760. 03 631. 95 753. 59 624. 69 720. 88 682. 48 767. 53 688. 22 782. 02 690.89 793. 11 613. 16 727. 51 564.20 646. 00 627. 76 718. 02 694. 85 769. 97 New York Stock Exchange, exclusive of some stopped sales, face value, total mil. $ 3, 646. 16 4,494.86 396. 30 370. 23 404. 43 557. 12 641. 95 541.68 600.80 615. 41 574. 79 509. 87 444. 24 489. 80 478. 40 Transportation § Communication Financial and real estate Noncorporate total $ U S Government State and municipal State and municipal issues (Bond Buyer) : Long-term Short -term r474 ' 6, 815 5,677 1,698 3,228 2,044 1,850 T 2, 044 ' 2, 871 1,647 1,714 SECURITY MARKETS Brokers' Balances (N.Y.S.E. Members Carrying Margin Accounts) Cash on hand and in banks Customers' debit balances (net) Customers' free credit balances (net) Bonds U.S. Treasury bonds, taxable^ -- -- - do __ Sales: Total, excl. U.S. Government bonds (SEC): All registered exchanges: Market value mil. $ Face value do New York Stock Exchange: Market value Face value Yields: Domestic corporate (Moody's) By rating: Aaa Aa . A Baa do do 530. 42 percent.- 7.36 8.51 8.68 8.63 8.65 8.35 8.04 7.75 7.84 7.86 8.03 8.14 8.14 8.12 7.97 7.88 do do . do do 7.03 7.20 7.40 7.81 8.04 8.31 8.56 9.10 8.09 8.47 8.78 9.39 8.03 8.44 8.71 9.33 8.05 8.42 8.74 9.38 7.64 8.13 8.48 9.12 7.36 7.90 8.15 8.74 7.08 7.67 7.85 8.39 7.21 7.73 7.96 8.46 7.25 7.74 7.99 8.45 7.53 7.84 8.14 8.62 7.64 7.96 8.20 8.75 7.64 7.96 8.21 8.76 7.59 7.93 8.20 8.76 7.44 7.81 8.04 8.59 7.39 7.69 7.97 8.48 do. _. do do 7.25 7.49 7.46 8.26 8.67 9.04 8.40 8.80 9.10 8.35 8.74 9.06 8.37 8.77 9.06 7.95 8.45 8.96 7.57 8.17 8.70 7.24 7.94 8.39 7.36 8.08 8.39 7.43 8.05 8.37 7.68 8.23 8.40 7.80 8.39 8.43 7.85 8.34 8.46 7.80 8.30 8.48 7.64 8.12 8.39 7.58 8.04 8.25 Domestic municipal: Bond Buyer (20 bonds) Standard & Poor's Corp. (15 bonds) do do 5.79 5.81 6.34 6.50 6.39 6.45 6.40 6.55 5.41 6.20 5.58 5.70 5.16 5.70 5.34 5.55 5.15 5.44 5.69 5.65 5.70 6.14 6.19 6.22 6.05 6.31 5.39 5.95 5.24 5.52 5.11 5.24 U.S. Treasury bonds, taxable© do 6.10 6.59 6.63 6.59 6.24 5.97 5.91 5.84 6.71 5.75 5.96 5.94 5.91 5.78 5.56 5.46 8.98 9.83 4.61 4.60 6.40 9.44 8.99 9.76 4.69 3.92 6.77 10.44 8.93 9.70 4.71 3.79 6.82 10.48 8.91 9.67 4.71 3.79 6.82 10.48 8.84 9.56 4.72 3.79 6.90 10. 49 8.85 9.57 4.73 3.79 7.13 10.49 8.91 9.64 4.74 3.82 7.28 10.52 8.84 9.54 4.74 3.82 7.28 10.57 8.84 9.55 4.75 3.82 7.28 10.57 8.85 9.57 4.78 3.82 7.28 10.57 8.85 9.55 4.78 3.85 7.28 10.57 8.85 9.57 4.78 3.84 7.28 10.57 8.82 9.53 4.78 3.84 7.28 10.57 8.77 9.43 4.78 3.84 7.28 10.66 8.76 '9.43 4.78 3.84 7.28 10.70 8.75 9.41 4.78 3.84 7.28 10.70 262. 77 313. 15 94.55 93.90 226. 70 270. 83 79.06 65.61 226. 91 272. 90 75.66 65.13 224. 96 272. 65 74.15 61.70 235. 68 285. 04 81.54 64.62 248. 66 298. 78 88.59 72.50 256. 44 306. 35 90.82 77.38 258. 89 312. 77 87.70 79.23 268.58 326. 01 89.49 80.28 277. 35 339. 59 85.82 87.10 263. 90 324. 75 81.51 83.44 261. 94 320. 58 84.95 84.56 251. 35 305. 79 83.31 81.86 262. 95 322. 28 79.70 93. 50 261. 31 320. 26 78. 81 93.32 251. 49 306. 25 82.41 86.56 Yields, composite percent.. Industrials _. do Public utilities do Railroads _ _ do N.Y. banks do Property and casualty insurance cos . .do 3.42 3.14 4.88 4.90 3.72 3.37 3.97 3.60 5.94 5.97 4.03 4.02 3.94 3.55 6.23 5.82 3.99 4.01 3.96 3.55 6.35 6.14 4.27 4.05 3.75 3.35 5.79 5.87 4.16 3.88 3.56 3.20 5.34 5.23 4.04 3.59 3.47 3.15 5.22 4.94 4.24 3.45 3.41 3.05 5.40 4.82 4.16 3.33 3.29 2.93 5.31 4.76 3.74 3.23 3.19 2.82 5.56 4.39 3.95 3.27 3.35 2.94 5.86 4.61 4.26 3.35 3.38 2.99 5.63 4.54 4.39 3.15 3.51 3.12 5.74 4.69 4.46 3.15 3.34 2.93 6.00 4.11 4.34 3.08 3.35 2.94 6.07 4.11 4.31 3.11 3.48 3.07 5.80 4.44 4. 19 3.31 Earnings per share (indust., qtrly. at ann. rate; pub. util. and RR., for 12 mo. ending each qtr.): Industrials dollars Public utilities do Railroads do 17.53 6.92 7.28 15.30 6.89 3.53 13.83 6.82 4.38 By group: Industrials. _ . Public utilities Railroads _ _. _ _ _ Stocks Dividend rates, prices, yields, and earnings, common stocks (Moody's): Dividends per share, annual rate, composite dollars.. Industrials do Public utilities . _ do Railroads _ _ do N.Y. banks do Property and casualty insurance cos do Price per share, end of mo., composite Industrials . Public utilities Railroads.. do do do do 2 ' Revised. » Preliminary. 1 End of year. Because of changes in series, data beginning July 1970 are not directly comparable with those for earlier periods. 9 Includes data not shown separately. § Beginning April 1971 SURVEY, data restated to include "other transportation" in addition to railroad data formerly shown. ' 18. 31 P 15.00 17.08 15.51 6.88 6.91 6.89 r 4.42 3. 09 3.53 cfNumber of bonds represented fluctuates; the change in the number does not affect the continuity of the 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. SURVEY OF CURRENT BUSINESS November 1971 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1969 1970 Annual S-21 1971 1970 Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Sept. Aug. Oct. FINANCE—Continued SECURITY MARKETS— Continued Stocks— Continued Dividend yields, preferred stocks, 10 high-grade (Standard & Poor's Corp.) percent-Prices: Dow-Jones averages (65 stocks) Industrial (30 stocks) _ _ _ Public utility (15 stocks) Transportation (20 stocks) Standard & Poor's Corporation re?1 Industrial, public utility , and railroad: Combined index (500 stocks) 1941-43=10-Industrial , total (425 stocks) 9 Capital goods (116 stocks) Consumers' goods (184 stocks).. Public utility (55 stocks) Railroad (20 stocks) . Banks: New York City (9 stocks) . , Outside New York City (16 stocks) do. . _ . do do do___do do do. - Property-liability insurance (16 stocks)._do New York Stock Exchange common stock indexes: Composite 12/31/65=50.. Industrial _ _ do Transportation do Utility . do Finance _ _ do 6.41 7.22 7.31 7.33 7.30 6.88 301. 35 876. 72 123. 07 221. 02 243. 92 753. 19 108. 75 152 36 240. 57 759. 38 108. 79 141.25 245. 02 763. 72 106. 68 152. 66 246 16 769. 23 110. 98 148 37 263. 81 821. 51 118. 88 160. 34 279 849 124 180 62 04 86 85 6.32 290 879 123 193 14 69 77 79 6.48 6.59 6.82 6.99 7.03 7.04 6.90 6.75 296 67 901 29 123. 22 200 55 309 11 932 54 122. 92 217 16 307 39 925 49 117. 75 221 10 300. 23 900.43 114. 36 217. 96 294. 95 887.81 118. 12 214. 94 297. 74 875. 40 113.28 222. 89 308. 38 900.74 111.20 241. 26 302. 19 872. 15 113. 76 236. 52 97.84 83.22 82.58 84.37 84.28 90.05 93.49 97.11 99.60 103.04 101. 64 99.72 99.00 97.24 99.40 97.29 107. 13 103. 75 87.06 62.64 45.95 91.28 87.87 80.22 54.48 32 13 90.66 84.96 79.65 54.44 29.14 92.85 87.90 82.12 53.37 31.73 92.58 86.47 83.09 54.86 30 80 98.72 92.12 88.69 59.96 32.95 102. 22 95 97 91.72 63.43 36 64 106. 62 101. 58 95.38 62.49 38.78 109. 59 104.69 98.54 62.42 39.70 113. 68 109.38 102. 41 62.06 42.29 112.41 108 61 101. 96 59.20 42.05 110. 26 105. 46 100. 96 57.90 42.12 109.09 102. 46 100.55 60.08 42.05 107. 26 100.90 99.82 57.51 43.55 109. 85 104. 55 103. 34 56.48 47.18 107. 28 100.66 101. 31 57.41 44.58 45.39 87.73 43.83 77.06 45.22 79.49 43.51 79.39 42.66 77.37 45.11 81.13 46 88 87.48 45.96 86.58 48.02 89.58 49.05 93.01 46 24 88.82 44.68 85.97 44.54 85.83 42.97 85.08 45.10 85.09 45.91 84.98 85.43 78.34 77.07 81.56 79.73 88.33 95.96 101. 59 103. 88 112. 76 114. 06 119. 24 126. 23 123. 73 127. 11 120. 71 54.67 57.44 46 96 42 80 70.49 45.72 48 03 32 14 37 24 60 00 45.10 47.43 30 43 36 74 60 13 46.06 48.87 32 38 36 01 59.04 45.84 48 54 31 23 36 71 57 40 49.00 51.68 33 70 39.93 61.95 51.29 53 72 37 76 42 52 66 41 53.42 56 45 40 37 42 30 68 19 54.89 58 43 41 71 41 60 70 66 56.81 60 65 45 35 41 73 73 91 56.00 60 21 45 48 39 70 70 89 55.06 59.25 44 90 38 71 70.01 54.83 58 70 44 02 39 72 70 42 53.73 57.62 44.83 38.17 69. 41 54.95 59.13 48 09 37 53 72 14 53.76 57.52 47.02 37.93 71.24 130 531 4 567 11 027 12 176 9 239 13 715 13 769 17 234 18 721 18 678 16 670 15 186 15,327 409 460 12 833 462 13 563 535 103, 063 3 213 8,721 13 368 12, 249 10, 903 12,271 337 296 337 10, 165 395 2,937 303 262 230 253 280 612 49 15, 522 579 75 15, 930 570. 41 15,981 598 64 16, 023 709. 00 17, 032 681. 17 17, 170 Sales: Total on all registered exchanges (SEC): Market value mil $ 175 298 Shares sold.millions 4,963 On New York Stock Exchange: Market value mil. $ 129,603 3 174 Shares sold (cleared or settled) millions New York Stock Exchange: Exclusive of odd-lot and stopped stock sales (sales effected) millions-2,851 Shares listed, N.Y. Stock Exchange, end of period: Market value, all listed shares bil $ Number of shares listed millions_- 6.53 629.45 15, 082 427 304 458 324 9,701 7,308 329 234 510 601 11, 036 13, 628 14, 661 375 428 14 850 397 415 335 349 371 390 402 303 304 265 321 612. 49 15, 522 668 01 16, 100 678. 13 16, 181 709 33 16, 306 734 34 16,375 706 82 16, 471 709 59 16, 663 684 56 16, 797 711.93 16, 915 470 11, 289 350 581 581 402 286 i FOREIGN TRADE OF THE UNITED STATES FOREIGN TRADE Value of Exports Exports (mdse.), incl. reexports, total mil. $._ 38, 005. 6 43, 224. 0 3, 374. 0 3, 975. 3 3, 544. 8 3, 736. 9 3, 532. 3 Excl. Dept. of Defense shipments Seasonally adjusted By geographic regions: Africa Asia Australia and Oceania Europe 3, 558. 3 4, 156. 0 3, 850. 6 3 ,970. 4 3, 740. 0 3, 397. 7 3, 423. 8 4, 264. 9 3, 527. 0 4, 107. 9 3, 689. 7 3,814.6 3, 806. 6 3,913.5 3, 522. 3 3,782.6 3, 685. 5 3, 340. 0 3, 366. 2 4, 225. 1 3, 660. 6 3, 494. 5 3, 677. 7 4, 510. 6 do do 37, 331. 7 42, 659. 3 3, 335. 2 3, 916. 7 3,494.1 3, 685. 2 3, 481. 8 3, 553. 4 3, 688. 7 3, 499. 3 3, 570. 2 3, 735. 4 do do do do 173.2 121.5 1, 391. 6 1, 579. 1 160.1 139.3 131.3 139.4 149.2 137.2 142.6 151.7 163.8 131.6 141.7 981.5 786.5 921.4 8, 261. 4 10, 022. 8 818.7 708.1 960.3 842.9 903.1 889.6 823.8 704.1 821.7 930.8 104. 9 94.2 156.6 103.3 997.9 1, 188. 2 85.8 93.3 105.8 83.5 88.9 90.7 130.6 103.6 73.8 12,641.6 14, 818. 6 1, 126. 7 1, 342. 1 1, 220. 0 1, 282. 0 1, 223. 1 1, 193. 6 1, 512. 0 1, 303. 0 1 ,324. 4 1, 149. 5 1, 120. 0 1, 114. 9 1, 421. 1 Northern North America Southern North America. . _ South America __ _ do do do 9, 137. 6 2, 761. 1 2,814.4 9, 084. 8 3, 287. 4 3, 245. 5 741.7 253.7 249.8 770.1 320.1 333.7 709.3 286.8 267.2 712.1 273.9 285.7 686.4 246.6 292.7 768.6 244.8 262.1 943.5 274.7 282.8 883.8 271.9 281.7 936.0 267.1 306.8 999.1 265.4 273.8 740.7 272.8 302.8 777.4 259.6 295.5 908.0 310.0 366. 1 By leading countries: Africa: United Arab Republic (Egypt) Republic of South Africa do do 67.2 505.5 80.7 562.7 5.0 48.1 4.1 48.7 7.6 48.7 5.5 44.4 10.3 53.4 6.0 56.8 3.0 50.9 4.2 44.0 3.8 46.7 2.7 49.2 10.3 50.2 2.5 47.3 5.7 65.2 do do do do 860.0 517.1 194.9 50.8 1, 003. 1 573.2 325.4 66.6 78.4 37.0 18.3 5.3 137.4 52.0 33.8 4.8 80.0 40.2 17.0 5.0 70.3 56.8 45.2 6.8 74.6 49.7 28.8 6.1 91.9 48.0 19.4 5.3 77.5 61.7 30.2 5.0 91.7 87.1 16.9 5.0 64.6 78.3 18.8 5.1 72.7 49.5 11.6 9.5 81.8 52.1 16.7 4.4 119.7 45.9 15.6 6.0 91.7 63.7 29 4 8.9 do do do 201.1 374.3 3, 489. 7 264.4 373.2 4, 652. 0 17.5 27.0 385.2 27.4 33.7 424.4 32.8 29.4 386.1 23.7 26.2 431.8 25.2 23.0 364.2 22.0 31.0 364.9 18.3 30.8 364.2 17.3 30.4 331.2 27.2 29.8 370.5 25.6 36.6 303.4 21.4 25.5 261.0 18.9 25.0 299. 7 34.4 34.6 371.2 do do do 1, 195. 1 32.4 2, 142. 1 1, 484. 3 32.5 2, 740. 2 110.2 3.1 211.3 127.1 3.0 260.4 107.2 .5 218.7 132.9 3.8 222.0 122.8 4.3 219.0 105.1 2.9 221.1 144.6 2.2 254.3 124.7 1.5 298.1 131.4 .7 274.4 113.6 1.2 219.0 108.3 .3 240. 9 109.9 .2 217.1 132.7 1.8 259. 9 do do do 1, 261. 5 105.5 2, 334. 6 1, 352. 8 118.4 2, 536. 8 88.1 12.2 200.9 111.6 11.7 '.36. 9 97.1 9.3 220.8 121.1 16.6 208.9 108.6 11.6 207.6 123.9 11.3 215.9 123.6 18.4 283.7 119.5 12.2 189.4 143.6 8.0 194.4 92.2 11.0 179.0 87.1 12.8 164.4 96.3 10.8 156. 3 120.8 14.9 240.4 .do. .. 9. 137. 0 9. 083. 8 741.7 770.1 709.3 712.1 686.3 768.6 943. 5 883.8 934.6 999.1 740.7 777.4 908.0 Asia; Australia and Oceania: Australia, including New Guinea India . Pakistan ___ Malaysia L Indonesia Philippines Japan _.. Europe: France _ _ _ _ _ _ East Germany West Germany Italy Union of Soviet Socialist Republics United Kingdom. . North and South America: Canada r __ Revised. ofNumber of stocks represents number currently used; the change in number does not affect continuity of the series. 9 Includes data not shown separately. SURVEY OF CURRENT BUSINESS S-22 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1969 1970 1970 Sept. Annual November 1971 Oct. 1971 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 477.8 29.1 72.9 19.3 29.5 135.7 70.0 502.5 32.9 88.9 20.2 35.1 135.5 70.7 487.2 32.9 80.2 20.4 31.1 126.5 76.0 584.2 47.1 107.5 24.5 37.5 134.8 82.3 FOREIGN TRADE OF THE UNITED STATES—Continued FOREIGN TRADE — Continued Value of Exports— Continued Exports (mdse.), incl. reexports— Continued By leading countries— Continued North and South America— Continued Latin American Republics, total 9 Argentina _____ _ Brazil Chile _ _ Colombia ^Mexico Venezuela Exports of U.S. merchandise, total Excluding military grant-aid Agricultural products, total Nonagricultural products, total __ mil. $.. 4,869.2 378.3 do_ 672.0 do 314.6 do 302.8 do 1,449.5 - do 708.2 do. 5, 696. 2 441.5 840.6 300.4 394.9 1, 703. 7 759.3 37, 461. 6 36, 787. 7 5, 936. 4 31, 525. 2 42, 593. 3 42, 028. 5 7, 173. 7 35, 419. 6 3, 732. 7 199.4 2, 127. 1 4, 349. 2 174.8 2, 588. 4 -do do do do By commodity groups and principal commodities: Food and live animals 9 mil. $ Meats and preparations (incl. poultry) _ _ do Grains and cereal preparations do 445.0 39.4 64.2 21.4 24.2 134.5 63.2 568.4 42.4 115.8 22.4 35.1 161.3 76.6 476.9 28.2 71.8 25.8 32.2 147.1 61.0 490.0 40.1 77.2 22.7 35.9 145.6 61.3 474.6 41.1 03.5 21.3 28.5 125.4 54.9 444.0 31.1 70.7 17.6 34.7 129.4 62.4 487.3 29.0 77.5 19.0 39.0 144.2 66.9 484.3 34.6 80.0 18.5 31.5 137.3 71.8 501.5 38.9 88.0 18.4 32.9 135.1 79.9 , 321. 4 3, 902. 4 3, 495. 7 3, 686. 1 3,484.1 3, 501. 7 4, 106. 6 3, 807. 7 3,911.2 3, 679. 2 3, 352. 3 3, 376. 7 4, 209. 5 , 282. 6 :'-, 843. 9 3, 445. 0 3, 634. 4 3,433.6 3, 470. 4 4, 058. 5 3, 763. 8 3, 854. 3 3, 624. 7 3, 294. 7 3,319.1 4, 169. 7 719.5 724. 1 561.1 671.6 715.9 746.1 635.7 623.6 i 605.6 579.0 633.5 546.0 749.8 , 760. 4 3, 178. 3 2, 776. 2 2,939.9 2,812.5 2, 866. 0 3, 390. 7 3, 174. 2 3.287,6 3, 073. 6 2, 773. 3 2, 830. 7 3, 459. 6 363.9 18.1 216.1 459.0 17.9 289.6 419.6 19.7 252.9 405.1 13.7 254.5 382.7 12.8 233.1 356.0 13.4 222.5 388.2 16.8 226.0 343.0 14.3 195.8 358.6 15.9 213.2 334.9 15.0 172.3 323.6 13.3 184.2 308.5 18.1 170.8 444.9 17.4 277.6 Beverages and tobacco do 713.5 701.7 64.7 75.8 92.5 80.1 56.6 47.0 67.0 57.9 64.3 60.0 61.4 74.4 122.7 Crude materials inedible, exc. fuels 9 Cotton raw excl linters and waste Soybeans exc canned or prepared Metal ores, concentrates, and scrap do do do do 3, 568. 6 280.2 822.4 710.7 4, 608. 5 372.2 1, 215. 8 938.2 344.2 11.1 83.7 86.1 419.5 22.9 128.3 85.7 409.3 32.7 135.8 71.2 448.9 46.8 141.3 69.2 382.9 57.6 106.1 56.2 363.8 59.5 101.5 38.1 409.4 74.6 110.2 45.7 381.9 62.4 102.9 48.2 353.2 44.6 92.8 45.2 361.5 44.5 110.0 40.3 298.4 31.2 109.2 39.8 302.5 24.4 102.7 35.4 369.2 47.8 93.7 53.2 Mineral fuels lubricants, etc. 9 Coal and related products Petroleum and products do do do 1, 130. 2 636.3 433.3 1, 594. 1 1, 044. 1 487.3 147.3 102.0 40.3 169.6 113.7 50.3 132.1 88.4 39.0 161.9 106.9 47.2 119.5 76.8 35.7 121.4 77.9 37.4 130.1 82.5 43.0 '141.8 86.4 50.0 147.7 99.8 42.7 133.5 89.1 41.0 107.1 65.0 36.6 167.3 117.3 45.6 158.2 106.7 45.4 307.6 493.0 44.0 40.3 32.5 56.0 51.7 51.5 56.5 54.2 49.2 49.3 62.7 45.4 58.1 Chemicals do 3, 382. 6 3, 826. 1 286.0 325.7 284.4 306.0 279.7 295.6 335.6 323.9 338.8 347.9 368.0 385.4 424.7 Manufactured goods 9 Textiles Iron and steel Nonferrous base metals do do do do 4, 554. 0 575.6 972.9 711.5 5, 067. 0 603.2 1,270.1 892.5 380.6 46.7 86.9 63.0 411.0 53.7 84.7 73.3 375.5 49.7 81.3 56.6 387.8 51.4 77.5 67.5 372.9 53.3 70.5 64.0 357.2 46.8 60.3 59. 8 404.5 56.3 67.9 61.4 388.6 53.9 65.8 60.2 380.8 53.7 65.3 57.5 390.4 50.0 72. 7 54! 1 353.3 50.1 72.1 35.3 352.2 56.0 57.4 36.7 436.3 67.9 70.7 51.7 Animal and vegetable oils, fats, waxes _ do Machinery and transport equipment, total mil. $.. 16, 402. 8 17, 875. 4 Machinery total 9 Agricultural Metalworking Construction excav and mining Electrical Transport equipment total Motor vehicles and parts Miscellaneous manufactured articles Commodities not classified Value of Imports General imports total Seasonally adjusted By geographic regions: Africa Asia Australia and Oceania Europe Northern North America Southern North America South America By leading countries: Africa: United Arab Republic (Egypt) Republic of South Africa Asia; Australia and Oceania: Australia, including New Guinea India Pakistan __ Malaysia _ „ Indonesia _____ _ _ _ _ _ Philippines Japan Europe: France. . East Germany West Germany-. _ Italy Union of Soviet Socialist Republics United Kingdom .. _ __ North and South America: Canada Latin American Republics total 9 Argentina Brazil Chile Colombia Mexico Venezuela _ " Revised. do do do do do do do do do 9, 864. 0 644.4 343.4 1, 248. 0 2, 677. 0 6, 538. 8 3, 787. 3 2, 445. 7 1,224.0 do do 36, 042. 8 39,951.6 do do do do 1,046.3 1,110.6 8, 275. 4 9, 625. 9 828.4 870.9 10, 333. 6 11,400.9 do do do 10,386.9 11,093.9 2, 516. 8 2, 881. 4 2, 643. 1 2, 955. 4 , 363. 7 1,654.2 1,419.1 1, 472. 7 1,489.3 1, 580. 7 1, 948. 3 1, 728. 1 1, 840. 1 1, 633. 0 1,421.8 1, 383. 0 1,815.5 978.8 956. 3 897.0 1, 073. 6 1,012.3 994.7 904.4 1, 059. 3 928.2 908.3 959.2 861.9 1, 100. 6 46.0 48.1 44.1 61.4 53.2 58.2 44.8 51.7 49.6 38.2 60.7 53.2 59.1 31.7 29.3 35.4 34.9 42.5 32.3 30.8 33.3 29.8 32.6 27.7 31.1 36.7 117.0 113.1 135.1 116.9 108.5 126.6 112.4 128.9 110.3 143.2 98.0 111.9 140.0 253.5 232.1 264.5 261.6 264.9 255.0 277.6 244.3 236.7 255.1 238.4 246.9 291.7 491.0 683.7 874.7 493.9 532.9 845.4 459.4 594.8 513.5 521.1 715.8 673.8 714.8 251. 9 339.8 412.6 288.0 393.7 260.9 320.3 289.7 358.7 271. 8 280.0 415.7 416.3 214.9 211.5 248.1 232.1 211.2 229. 8 208.1 209.4 221.1 231. 2 232.8 233.4 258.0 115.6 116.9 119.0 139.4 159.4 117.6 146.5 115.8 157.1 134.9 125.3 135.3 122.0 3,451.9 3, 598. 9 3, 405. 8 3, 555. 5 3, 422. 0 3, 193. 8 3,911.5 3, 897. 6 3, 844. 9 4, 283. 1 3, 699. 1 3, 847. 2 4, 253. 7 3,428.2 3, 500.5 3, 428.4 3,404.3 3, 686. 3 3, 553. 4 3. 569. 2 3, 757. 8 3, 987. 6 4, 023. 2 3, 798. 6 3, 937. 4 4, 245. 2 96.0 87.4 98.0 91.8 82.8 851.4 902.4 836.4 932.8 841.3 75.6 57.1 74.1 62.8 88.0 915.3 1, 033. 9 1, 033. 6 1, 025. 4 1,006.4 80.2 784.0 45.0 907.2 916.9 204.8 256.2 1,019.9 227. 5 249.5 941.3 217.1 225.4 978.3 261.6 266.0 906.1 236.4 265.2 937.3 245.2 191.3 113.1 94.7 106.1 104.3 96.3 113.3 134.7 979.5 890.2 935.1 1, 119. 2 851.5 934.8 1, 104. 0 68.6 63.2 76.7 83.4 86.3 88.1 120.4 1,152.8 1, 108. 1 1,114.8 1,216.4 1, 185. 1 1, 197. 7 1,216.8 1,140.1 1, 081. 5 1, 105. 8 1,217.0 968.3 961.1 1,116.4 278.8 300. 9 269.6 242.2 260.0 230.9 222.9 263.4 266. 2 233.2 306.0 276.7 280.3 335.5 37.8 246.3 22.9 288.0 1.5 27.9 17i 6 .5 22. 7 .2 31.4 .4 20.9 1.4 20.2 2.5 25.4 2.4 19.5 .9 33.5 .7 28.8 .7 19.2 2.1 17.7 4.3 30.4 do do do do __do_. do do 595.0 344.0 73.1 307.4 193.7 422.6 4, 888. 2 622.7 298.1 80.2 270.2 182.2 475.9 5, 875. 3 55.4 17.5 4.3 23.4 14.5 59.1 571.9 51.1 31.3 6.1 21.0 17.5 41.8 565.8 45.8 26.1 7.6 20.5 15.6 35.4 529.4 56.2 25.9 8.3 29.7 18.4 48.1 488.9 41.6 28.7 9.0 22.0 16.4 26.6 551.0 34.2 21.4 6.5 16.5 14.6 30.3 488.9 41.2 25.4 10.8 21.9 17.3 33.5 555.1 45.8 26.9 7.0 22.6 17.6 47.0 614.5 55.3 28.0 3.2 19.9 18.8 38.4 574.5 57.4 31.7 4.2 32.2 17.5 48.8 685.1 63.4 26.2 4.7 13.9 17.4 39.8 490.6 52.2 30.2 6.8 30.1 21.4 41.8 530.4 89.0 41.9 8.8 24.3 20.7 47.2 649.4 _do do do do do .do 842.2 8.0 2, 603. 4 1,203.7 51.5 2, 120. 4 942.1 9.4 3, 129. 6 1,316.1 72.2 2, 195. 8 71.4 .5 271. 0 97.6 2.9 175.4 82.4 9 277.3 112.3 2. 9 212.7 88.9 1.0 292.0 104.1 5.9 203.0 95.0 .9 290.1 114.7 6.7 185.6 89.5 1.1 294.5 117.7 3.7 184.4 79.1 267'. 2 102.2 3.8 155.1 98.2 1.1 313.9 125.5 7.6 216.6 94.2 .8 313.6 121.0 5.0 205.2 102.3 .9 299. 5 109. 9 6.4 230.2 108.8 .8 336.6 128.1 6.1 246.6 101.4 .9 336.0 128.1 5.1 222.9 102.5 .9 347.6 149.4 3.7 235.5 98.7 1.0 356.8 120.9 5.3 235.4 10, 383. 6 11,091.1 916.5 1,019.0 941.3 978.3 906.0 937.1 1, 140. 0 1,081.3 1,105.7 1,216.7 967.7 961.0 1, 115. 1 371.5 18.3 56.0 14.4 18.4 80.6 86.4 383.3 18.2 63.1 14. 1 16.5 93.1 80.9 358.0 11.9 66.3 10.1 15.8 91.9 75.3 418.9 12.2 49.6 15.2 22.0 110.1 105.2 407.4 9.7 89.6 10.4 19.1 99.8 87.1 355.8 9.7 44.4 8.6 15.4 110. 9 76.4 450.1 13.5 59.8 9.7 23.2 124.2 107.9 406.3 17.4 76.7 9.4 27.4 83.4 100.2 449.0 20.6 100.1 6.8 22.6 88.9 104.0 do do do do 4, 213. 8 do 155.3 do 616.7 do 151.4 do 240.4 do 1, 029. 3 d o . 940.1 9 Includes data not shown separately. 11.371.6 628.1 395.7 1,422.4 2, 999. 7 6, 503. 8 3, 549. 3 2,571.4 1,507.0 4, 779. 2 171.8 669.4 154.0 268.9 1, 222. 4 1. 082. 1 452.6 15.5 38.2 14.5 20.0 126.3 135.3 405.4 10.6 46.8 5.7 20.3 114.4 104.8 441.8 15.9 81.7 7.1 22.0 105.0 107.4 461.8 22.5 103.1 14.7 26.7 88.2 102. 5 Oct. SURVEY OF CURRENT BUSINESS November 1971 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1969 1971 1970 1970 Annual S-23 Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. FOREIGN TRADE OF THE UNITED STATES—Continued FOREIGN TRADE— Continued Value of Imports— Continued General imports— Continued By commodity groups and principal commodities: Agricultural products, total mil. $ Nonagricultural products, total __do 4,953.7 5, 664. 9 454.7 461.1 434.9 422.0 534.7 484.9 500.8 555.3 31,089.1 34,298.3 2, 939. 5 3, 137. 8 2, 970. 9 3, 020. 8 2, 937. 0 2, 771. 8 3, 410. 7 3, 342. 3 625.0 529.8 555.9 479.7 487.3 3365. 2 3,753.4 3,211.8 3, 291. 3 3, 628. 7 Food and live animals 9 do 4,530. 6 Cocoa or cacao beans _do 168.2 Coffee .do _ _ 893.9 Meats and preparations do 863.7 Sugar __ __ do 638.2 Beverages and tobacco do 777.8 Crude materials, inedible, exc. fuels 9 - do. __ 3, 460. 1 Metal ores _ do 1,012.5 Paper base stocks do 520.8 Textile fibers do 260.1 Rubber _ _. __ __ do 279.5 5, 378. 9 200.7 1, 159. 5 1, 014. 5 729.1 855.0 3, 312. 2 1, 148. 9 501.9 201.7 236.5 447.8 15.4 83.8 91.3 80.9 63.5 301.5 117.1 37.2 13.2 18.7 459.3 17.5 103.9 86.0 53.4 87.9 275.7 98.2 40.8 10.2 17.7 423.2 9.8 95.8 75.9 44.5 95.0 266.0 98.7 39.2 10.2 18.4 488.5 18.1 83.6 82.7 76.2 86.9 267.8 91.9 44.4 13.2 18.9 459.7 30.1 124.1 70.2 45.6 63.1 235.4 71.4 37.4 13.0 17.2 385.7 14.5 86.7 64.8 33.9 56.2 208.2 51.1 38.0 12.9 17.2 458.7 14.8 81.3 87.6 67.4 69.0 309.6 94.8 49.9 16.0 15.4 522.1 17.3 110.4 83.7 81.1 70.4 281.6 86.1 44.0 16.0 15.1 446.1 9.9 95.2 79.5 58.8 74.6 297.7 105.2 39.8 13.1 17.1 500.7 15.6 102.3 105.0 69.9 92.7 352.3 126.7 49.2 12.3 25.4 482.1 16.0 113.8 94.6 C8.1 83.1 323.6 125.4 37.8 14.2 16.8 529.4 12.5 141.3 102.0 81.3 86.9 305.0 97.2 43.5 17.6 23.9 610.7 12 9 142'. 7 198 9 98.8 104.4 308.4 81.2 40.0 16.2 19.2 Mineral fuels, lubricants, etc Petroleum and products. Animal and vegetable oils and fats Chemicals do 2, 794. 0 do 2, 559. 9 do 136.7 do _ _ _ 1,228.3 3, 080. 8 2, 770. 0 159.6 1, 450. 3 240.4 216.0 9.2 111.9 255.0 229.2 16.0 130.8 239.1 212.8 11.3 119.8 311.1 279.4 21.3 121.3 267.6 237.0 11.9 124.0 255.8 219.5 15.5 125.4 315.6 283.8 16.1 145.5 269.3 234.5 17.6 150.4 297.0 264.3 15.8 150.4 303.0 268.0 13.9 142.3 303.8 275.6 12.0 138.6 327.2 298.7 11.0 148.1 333.1 303.0 17.6 165.9 do do do do do 7, 892. 9 1, 809. 1 939.0 1, 534. 2 1, 018. 5 8,437.4 2,032.0 929.6 1, 652. 7 1, 135. 4 736.1 189.7 76.5 150.9 84.5 768.6 203.5 79.9 136.0 104.0 762.0 239.5 78.1 120.7 99.4 754.4 199.9 93.5 146.7 95.9 719.9 193.7 76.0 123.1 110.0 636.1 180.8 62.6 105.9 97.6 795.7 190.0 83.8 136.4 127.1 824.0 208.1 89.6 152.7 128.4 851.4 260.8 83.2 130.3 120.9 948.2 300.0 85.2 149.5 132.3 783.0 254.3 74.2 122.9 113.2 812.5 236.7 75.6 135.8 112. 8 896. 2 259.3 88.2 149 4 134.0 do do do do 9, 762. 7 11,171.3 4,488.9 5, 289. 3 182.7 163.7 1, 948. 2 2,271.9 912.0 1,015.8 442.4 477.6 10.3 10.9 210.0 218.2 975.2 450.2 11.5 204.6 986.7 1, 033. 2 1, 032. 0 1, 236. 9 1, 200. 6 473.3 468.6 413.9 526.9 532.8 13.5 9.5 10.9 9.1 10.7 166.4 194.8 191.6 211.9 217.6 5, 273. 8 4, 618. 4 4, 127. 2 1,332.4 5, 882. 0 5,066.6 4, 843. 9 1,273.8 469.6 402.8 453.8 118.1 538.2 470.4 469. 2 120.8 525.0 459.4 406.1 108.3 513.5 440.7 402.5 115.0 564.7 477.9 389.4 117.6 618.1 535.5 369.5 109.4 709.9 617.2 442.2 122.1 667.8 562.0 436.5 125.0 692.8 599.1 416.0 127.3 751.2 652.5 492.8 124.1 513.8 443.9 453.3 132.6 588. 9 504.2 474.7 120.5 104.7 114.5 119.9 110.7 123.9 137.2 111.5 115.3 126.5 111.5 134.9 150.5 110.6 121.9 134.9 112.3 126.7 142.3 114.2 117.7 134.4 114.8 118.3 135.9 115.7 137.4 158.9 116.2 126.8 147.4 114.6 131.7 150.9 112.8 125.8 141.9 113.2 114.0 129.0 113.0 pl!3. 4 115.0 ' 144. 0 130.0 p 163. 3 104.2 128.7 134.1 111.6 133.1 148.6 113.6 135.6 154. 1 113. 6 141.4 160.6 113.7 133.7 152.0 114.2 138.9 158.7 115.3 132.4 152.7 115.9 123.0 142.5 117.9 148.0 174.6 116.1 149.9 173.9 116.9 146.7 171.6 117.2 163.1 191.1 117.8 140.2 165.1 118.0 p 117. 0 145.5 p 162. 2 171.7 p 18!). 8 199, 286 19,915 239, 774 24, 394 20, 818 1,920 23, 745 2,283 20, 034 2,057 21, 455 2,141 17, 431 1,964 16, 003 1,867 16,934 2,129 17,923 2,045 18, 730 2, 029 17, 844 1,929 15, 698 1,857 18, 182 1,865 288, 620 21, 570 299, 168 24, 728 25, 518 2, 153 25, 202 2,210 23, 045 2,129 27, 150 2, 179 21,448 2,155 16, 998 1,908 29, 103 2,347 25, 157 2,399 27, 363 2,381 29, 567 2, 710 27, 546 2,365 28, 528 2, 379 11 17 49 1 1 519 10 84 46 2 1 483 12 09 50 7 1 605 13 66 54 5 1 775 14 06 55 8 1 840 11.14 47 4 1 573 9 01 8 39 9 44 10 30 10 74 8.32 181 59 186 55 185 54 211 53 223 54 1 99 2 16 2 46 2 65 3 31 2.81 113 52 111 48 109 47 3 37 116 55 477 499 35 123 46 127 44 139 44 26.5 536 26.6 504 26.6 484 26.6 471 26.6 416 26.7 422 26.7 444 Manufactured goods 9 Iron and steel Newsprint Nonferrous metals Textiles .. .. __ _ ... Machinery and transport equipment Machinery, total 9 _ _ Metal working Electrical Transport equipment __ do Automobiles and parts do Miscellaneous manufactured articles do Commodities not classified do Indexes J d71 Exports (U.S. mdse., excl. military grant-aid): Unit value 1967 = 100.. Quantity . . do Value do General imports: Unit value do Quantity . . do Value do Shipping Weight and Value Water borne trade: Exports (incl. reexports): Shipping weight thous. sh. tons.. Value ... mil $ General imports: Shipping weight thous. sh. tons.. Value. _ mil $ 1168. 5 1,313.2 561.9 475.6 11.2 9.4 239.7 204.0 986.9 1, 031. 7 1,219 8 523.8 442.8 473.1 8.8 8.6 8.4 222. 6 185.3 187.6 696. 0 600.6 485. 0 112.6 TRANSPORTATION AND COMMUNICATION TRANSPORTATION Air Carriers (Scheduled Service) Certificated route carriers:* Passenger-miles (revenue) bil 125 42 1131 72 Passenger-load factor § percent 50 0 49 7 Ton-miles (revenue) , total J mil 16 898 18 167 Operating re venues 9 _. mil $ 8,791 i 9, 290 Passenger revenues do 7,120 i 7, 627 Freight and express revenues do 750 686 Mail revenues do 306 296 Operating expenses do 8,403 i 9, 247 Net income after taxes do i 54 — i 201 Domestic operations: Passenger-miles (revenue) bil i 102 72 i 104 16 Express and freight ton-miles ""mil" 1 2, 126 1 2, 216 1 Mail ton-miles ._ do i 715 807 1 Operating revenues... mil $ 6 936 1i 7 180 J Operating expenses do 6 613 7, 181 Net income after taxes do 131 -i 184 International and territorial operations: i 27 56 Passenger-miles (revenue) bil i 22 70 Express and freight ton-miles "mil" i 11 224 11 299 Mail ton-miles do 544 1766 Operating revenues .. mil. $ i 1, 855 12 109 Operating expenses.. __ .. do 1 1, 790 i 2, 066 i 23 Net income after taxes do — i 17 Local Transit Lines Fares, average cash rate Passengers carried (revenue) r cents mil 24.3 6,310 25.7 5,903 10 90 48 2 1 497 2 541 2 139 192 71 2 387 60 9 98 45 0 1 439 8 23 182 56 1 897 1 835 7 90 187 63 9 20 43 6 1 334 10 53 46 0 1 409 q 06 43 5 1 260 7 48 162 63 8 94 178 87 172 71 8 45 147 59 7 26 147 55 1 729 1 820 —121 (2) 10 17 43 7 1 428 2 181 1 789 2 332 — 160 — 177 8 18 177 63 175 61 1 704 1 833 — 125 2 67 113 56 644 552 60 2 08 126 65 1 72 110 78 1 99 106 89 489 536 56 96 54 101 51 25.8 483 26.0 509 26.2 473 26.4 499 26.4 460 26.4 440 Revised. v Preliminary. i Annual total reflects revisions not distributed to monthly data. 2 For 3d quarter 1970, loss $386 thousand. J Trade in silver is included in value and quantity indexes for 1968 and all indexes thereafter. ci^New base; comparable data for earlier months will be shown later. 9 Includes data not shown separately. §Passenger-miles as a percent of available seat-miles in revenue service; reflects proportion of seating capacity actually sold and utilized. TApplies to passengers, baggage, freight, express, and mail carried. 10 94 48 2 1 554 2 218 1 782 189 90 2 355 2 08 1 80 *New series. Source: Civil Aeronautics Board. Certificated route industry covers passengercargo (including local service, helicopter, and other carriers) and all-cargo carriers. Operations between the 48 States and Alaska and Hawaii are included in domestic operations. Selected revenues by type (as shown for total industry) and all traffic statistics cover scheduled service only; total revenues, expenses, and income for all groups of carriers also reflect nonscheduled service. SURVEY OF CURRENT BUSINESS S-24 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1970 1970 1969 Annual November 1971 Sept. Oct. 1971 i Nov. | Dec. Jan. Mar. Feb. Apr. May June July Aug. Sept. 127.6 128.7 121.5 Oct. TRANSPORTATION AND COMMUNICATION—Continued TR ANSPORTATION— Continued Motor Carriers (Intercity) Carriers of property, class I (qtrly. total): Number of reporting carriers _ _ _ _ Operating revenues total mil. $ Expenses total do Freight carried (revenue) mil. tons Freight carried, volume indexes, class I and II (ATA): Common and contract carriers of property (qtrly )o" average same period, 1967=100 . Common carriers of general freight, seas, adj.f 1967=100.Carriers of passengers, class I (qtrly.): § Number of reporting carriers Operating revenues, total mil. $.. Expenses, total do Passengers carried (revenue) __ . _ _ _ _ -mil 1 1,289 10, 482 10,036 560 1,373 2,951 2,784 144 114.8 112.4 114.7 113.6 111.1 115.8 i 71 679.0 596.2 178.7 171 722.2 638.4 173.5 70 218.6 175.1 47.7 71 175.5 158.8 41.8 11, 423 10, 320 438 9,038 1,726 658 458 11, 985 10, 916 420 9,731 1.844 2485 78 3,040 2,758 113 2,451 479 109 21 3,045 2,778 102 2,485 476 84 -35 781.7 767.9 1.347 12, 169 777.2 762. 5 1. 431 «10,770 190.4 189.2 1.458 2,986 194.5 191.1 1.453 2,501 12.37 59 119 13.25 55 114 13.95 56 118 14.48 62 114 13.39 50 104 12.24 40 112 13.62 47 98 13.24 50 106 12.72 56 128 14.37 56 119 5,911 * 5, 767 3,602 4 3, 039 1,820 42, 403 6,659 6,499 4,065 3.449 2,219 45, 753 690 535 416 334 126 4,532 505 408 326 291 101 3,050 420 368 268 237 88 1,625 395 437 292 279 108 1,090 550 443 328 239 137 1,198 444 404 242 185 182 1,347 517 471 306 239 275 1,689 563 556 312 247 290 2,609 mil $ do do do do mil 16, 781 8,213 6,506 10, 270 2,798 100.3 18, 103 8,912 6,947 11,581 3,058 104.1 4,568 2,236 1,765 2,955 758 103.1 4 637 2,300 1,769 2,987 802 104 1 4 760 2,341 1,845 3,046 813 105 2 4,897 2,386 1,909 3,109 859 105.9 mil $ do do 391.3 330.8 32.9 402.5 334.6 34.0 98.1 85.1 6.4 100 2 80 8 6.9 91.2 78.8 6.8 98.7 85.3 4 8 do do do 179.9 132.5 39.1 193.7 144.9 39.3 47.7 36.0 9.4 50 1 38.1 9 4 51.9 36.6 12 7 50.4 37.6 10.1 Class I Railroads Financial operations (qtrly.): Operating revenues total 9 mil. $ Freight do Passenger do Operating expenses do Tax accruals and rents do Net railway operating income do Net income (after taxes) do Traffic: Ton-miles of freight (net), revenue and nonrevenue (qtrly ) bil Revenue ton-miles do Passengers (revenue) carried 1 mile (qtrly. ) _ . mil.. Travel Hotels: Average sale per occupied room dollars .. Rooms occupied % of total Restaurant sales index__.same mo. 1951 = 100.. Foreign travel: TJ S citizens' Arrivals thous Departures do Aliens* Arrivals do Departures do Passports issued do National parks, visits^ do 4 4 106.7 112.7 108.3 116.1 119.4 116.1 121.4 124.3 2 2 2 125 6 124.7 129.2 130.3 2 2 3, 125 2, 2877 91 2 513 2 494 2 118 2637 3 371 3,2 138 769 2 2 573 2 521 2 277 2 6 179 194. 9 2.362.6 2 56.2 2 57.3 13.26 56 131 13.94 55 124 12.41 54 116 14.01 56 108 14.23 55 116 573 620 334 299 270 3,653 595 802 352 317 317 6,725 897 908 493 362 239 10,266 203 9, 674 147 4,978 2 2 183 2 r 2 3 . 67.5 COMMUNICATION (QTRLY.) Telephone carriers: Operating revenues 9 Station revenues Tolls, message Operating expenses (excluding taxes) Net operating income (after taxes) Phones in service end of period Telegraph carriers: Domestic: Operating revenues Operating expenses Net operating revenues (before taxes) International: Operating revenues Operating expenses Net operating revenues (before taxes) I CHEMICALS AND ALLIED PRODUCTS CHEMICALS Inorganic chemicals, production: 14,382 Acetylene mil. cu. f t _ _ 14,386 Ammonia, synthetic anhydrous__thous. sh. tons_. 12,917.8 13,098. 0 1,120.1 Carbon dioxide, liquid, gas, and solidj do 1, 069. 4 4 9,413.9 8,895. 2 Chlorine, gas (100% Cla) do Hydrochloric acid (100% HC1) . ._ do Nitric acid (100% HN0 3 ) do..__ Oxygen (high purity)J mil. cu. ft.. Phosphoric acid (100% Pj0 8 ) thous. sh. tons._ Sodium carbonate (soda ash), synthetic (58% Na 2 O) thous. sh. tons.. Sodium bichromate and chromate do. _ Sodium hydroxide (100% NaOH) do Sodium silicate, anhydrous do Sodium sulfate, anhydrous do Sulfuric acid (100% HjSOO do 1,112 1.059.7 ' 87. 9 860.1 1,102 1,096.5 77.3 802.8 953 1,073 1,140.7 1,091.4 80.2 77.9 742.0 812.1 1,047 969. 0 80.8 695.5 1,220 1,143.7 85.2 790.5 1,237 1,248.0 101.7 777.6 1,350 1,256.2 100.4 764.6 163.8 1,910. 8 1,917.7 522.7 6,443. 4 6,460.1 275,962 279,352 23, 003 5, 373. 0 5, 685. 6 481.7 165.6 564.3 24.244 503. 3 143.3 553.1 23,341 463.6 153.8 565.1 23,822 526.9 160.6 567.3 26,612 492.9 149.0 536.6 26,194 521.5 175.9 603.7 29. 668 534.7 167. 1 598.4 27,634 539.4 183.4 587.4 28,934 519.5 157. 7 511 4 21 217 472 4 157. 5 344.3 375.8 12.2 11.3 821.8 741.7 63.5 50.6 115.4 109.1 2,386.2 2, 592. 6 362.9 12.2 799.9 61.4 119.1 2,599.3 354.2 362.0 350.0 345.6 12.4 13.2 10 1 r 8 9 795.4 798. 2 »• 814 2 818 0 46.2 36 1 r 43.7 56.1 100 7 119. 8 r in 6 123.0 2,520.4 2,379.9 2, 289. 5 2, 242. 0 340.9 9.5 785.4 46.5 106. 1 4, 540. 2 152.6 9, 916. 6 657.1 1,482. 6 29, 536. 9 5 373.4 312.9 412.1 4,414. 4 361.6 355.5 12.1 11.8 11.6 13.3 14.7 149.5 765.6 830.9 842.8 10, 073. 7 829.1 889. 1 56.2 51.7 38.7 55.8 612.4 48.8 111.5 116.0 116.0 122.7 117.6 1, 362. 4 29,576.7 2,403.8 2,494.8 2,432.9 2,672.8 2,395.7 r Revised. v Preliminary. 1 Number of carriers filing complete reports for the year. 4 Source: Association of American Railroads. 3 For 5 weeks. Annual total reflects revisions not distributed to the monthly or quarterly data. s Beginning Jan. 1971, includes low purity oxygen; comparable Dec. 1970 figure. 26,394 mil. cu. ft. 6 Before extraordinary 7 and prior period items. Reporting roads only; excludes AMTRAK operations. IjEffective with Jan. and July 1971, data include visits to Guadalupe Mts. and Redwood National Parks. 2 r 1 276 1 185 1,317 1,139.5 1 060 6 1 149 1 130.6 117.0 r 120. 2 788.4 "767." I" 776.5 '784 3 1,155 1,102.6 103.5 180.2 r 173. 0 488 3 523.8 27,344 r 26,322 472 1 478.8 r t Revised monthly data (1957-May 1970) are available. a" Indexes arc directly comparable for the identical quarter of each year (and from year to year). Revisions back to 1946 are available. §Beginning with 1st quarter 1969 reporting period, motor carriers are designated class 1 if they have annual gross operating revenues of $1 million or over. 9 Includes data not shown separately. JRevisions for 1967 available upon request. SURVEY OF CURRENT BUSINESS November 1971 1969 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS S-25 1971 1970 1970 Sept. Annual Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 126.4 2.3 12.6 120.6 2.6 9.0 123.0 2.9 7.2 14.6 340.2 11.6 361.8 13.6 413.2 C 28.8 26.8 57.8 58.3 CHEMICALS AND ALLIED PRODUCTS—Continued CHEMICALS— Continued Organic chemicals, production:^ Acetic anhydride Acetvls alicvlic acid (aspirin) Creosote oil » 1,748. 0 37.5 i 118. 3 35.1 109.6 3.3 9.5 3.5 9.3 2.9 9.1 2.7 10.6 125.8 2.7 8.4 120.2 2.5 8.4 140.6 2.9 9.6 133.5 2.8 10.3 137.0 2.6 10.7 127.0 2.3 12.1 mil. lb-_ * 153. 2 i 4,192. 8 do i 158. 7 14,312.4 16.2 397.8 14.7 370.8 10.2 400.8 16.1 344.4 13.5 308.8 13.0 310.3 10.8 382.1 15.9 383.4 14.5 371.9 11.7 362.1 mil Ib do niil gal Ethyl acetate (85%) Formaldehyde (37% HCHO) Glycerin, refined, all grades: Production Stocks end of period Methanol synthetic ... Phthalic anhydride 322.4 30.5 i 624. 8 774.0 336.1 29.6 i 744. 7 i 714. 0 26.1 24.4 50.6 63.6 27.8 23.0 60.4 54.9 31.7 26.6 65.4 53.8 31.8 29.6 77.0 55.9 28.2 31.2 60.2 54.4 25.8 27.0 56.6 51.4 30.3 29.2 56.0 61.9 27.0 23.5 65.8 61.3 28.6 25.5 60.3 71.1 29.4 23.4 65.4 67.7 26.9 '20.9 54.3 67.9 '30.3 '24.2 61.6 62.3 mil. tax gal do do do 737.7 179.7 592.6 85.6 631.5 162.7 513.8 84.8 58.3 177.8 42.7 7.5 54.8 169.4 42.9 8.6 41.4 161.3 37.1 7.7 48.3 162.7 37.6 6.7 45.0 162.8 37.8 6.2 41.5 159.4 31.8 6.1 41.7 155.1 37.7 7.4 44.4 151.2 38.1 6.6 43.4 148.2 38.8 6.5 48.6 150.1 38.8 7.7 43.7 151.9 33.1 7.0 43.6 146.1 35.2 7.7 mil wine gal do do 318.4 318.8 2.4 276.9 276.2 3.0 23.0 22.9 2.8 23.2 22.9 3.0 20.1 20.1 3.0 21.0 20.9 3.0 20.4 20.2 3.3 17.2 17.7 2.8 20.4 20.4 2.7 20.6 20.7 2.7 20.9 21.0 2.8 21.1 21.7 2.3 18.0 17.7 2.6 19.0 18.9 2.8 thous. sh. tons do do do 16, 599 1,799 12, 229 1,233 16, 005 1,133 12, 543 966 1.341 76 1,034 115 1,479 105 1,189 74 1,420 114 1,163 73 1,293 101 980 70 1,800 58 1,528 66 1,168 62 905 87 1,285 67 986 83 1,680 94 1,381 72 1,210 61 968 90 1,418 92 1,122 108 1,616 82 1,256 91 1,350 129 1,005 85 1,666 95 1,327 101 233 138 3,829 184 326 218 4,165 129 18 12 331 13 23 16 391 22 24 24 387 8 19 16 269 5 16 12 315 19 24 33 296 13 43 40 474 7 104 18 475 34 58 20 518 13 18 6 184 28 14 7 272 17 17 21 407 23 31 11 463 47 4,794 4,603 340 411 416 319 436 271 569 895 391 276 270 325 364 4,290 448 4,496 484 380 418 386 394 387 426 431 484 379 505 402 511 430 453 436 262 415 258 393 336 378 406 394 387 Explosives (industrial), shipments, quarterly! mil Ib 1 924 8 2 046 5 484 0 Paints, varnish, and lacquer, factory shipments: Total shipments mil $ Trade products do Industrial finishes . . . do 2, 776. 7 1, 473. 5 1, 303. 5 2, 737. 1 1, 497. 6 1,239.4 256.4 138.2 118.2 220.6 117.2 103.4 185 9 99.4 86.4 177.0 88.4 88.6 180.4 91. 9 88.5 198.2 104.7 93.5 235.6 124.5 111.1 253.0 142.9 110.2 258.2 145.7 112.5 291.6 169.7 121. 9 ' 254. 1 '156.6 '97.5 274.0 158.9 115.1 266.9 150.0 117.0 8,568 3,461 i 8, 539 4,038 797 3,837 746 3,977 703 4,021 742 4,038 728 4,108 658 4,094 695 4,123 684 4,069 716 4,119 686 4,095 721 4,156 734 4,190 696 4,208 mil Ib 1628 8 11 600 2 646.1 __do. _ i 667. 4 do i 1, 123. 8 11,041.6 . do i 770. 5 i 623. 5 56 9 54.7 82.2 52.8 50.1 58.0 92.8 50.7 43.6 54.0 85.1 48.2 42.8 54.2 79.5 46.0 (2) 48.7 82.1 47.7 51.7 81.2 48.2 59.4 93.7 53.2 60.7 91.2 55.6 63.6 90.7 55.8 66.7 91.4 59.1 62.2 81.0 52.3 67.4 93.2 57.9 71.9 107.0 64.2 10.8 11.0 9.9 9.1 24 6 293.8 314.0 497. 4 25 A 271.9 311.7 517.7 28.2 279. 6 288.6 487.6 28.0 283.8 289.2 509.8 270.5 289.5 459.9 303.9 321.4 491. 7 287.1 306.8 543.4 345.4 344.7 541. 9 326.5 328.9 529.2 314.6 284.7 514.5 331.5 333.7 545.1 328.4 342.6 557.2 - do do mil. gal_ mil. Ib ALCOHOL Ethyl alcohol and spirits: Production Stocks end of period Used for denaturation Taxable withdrawals Denatured alcohol: Production Consumption (withdrawals) Stocks end of period FERTILIZERS Exports, total? . - - . _ . _ Nitrogenous materials Phosphate materials Potash materials Imports: Ammonium nitrate Ammonium sulfate Potassium chloride Sodium nitrate do do do do Potash deliveries (KjO) do Superphosphate and other phosphatic fertilizers (100%P305): Production thous. sh. tons Stocks, end of period _ do_ ._ MISCELLANEOUS PRODUCTS Sulfur, native (Frasch) and recovered: Production thous Ig tons Stocks (producers'), end of period _ _ . ...do. .. 585.4 480.0 696.4 567 7 PLASTICS AND RESIN MATERIALS Production; Therm osetting resins: Alkyd resins Polyester resins . __ _ Phenolic and other tar acid resins Urea and melamine resins Thermoplastic resins: Cellulose plastic materials. . .. ... do i 192. 6 i 140. 9 Coumarone-indene and petroleum polymer resins mil. Ib i 332. 6 1 315.3 13,251.6 11 3, 402. 9 Styrene-type materials (polystyrene) do Vinyl resins (resin content basis) do 13,638.8 3, 754. 4 Polyethylene - do 1 5, 440. 7 1 5, 872. 3 (2) G) 267.2 294.7 493.5 ELECTRIC POWER AND GAS ELECTRIC POWER Production (utility and industrial), total J mil. kw.-hr._ 1,552,757 1, 638, 010 139, 839 132, 734 130, 925 141, 048 146, 329 131, 607 141, 605 131, 045 133, 925 150, 674 154, 142 154,507 Electric utilities, total By fuels By waterpower do do __ _ _ ___ _ do _. Privately and municipally owned util. _ do Other producers (publicly owned) do _ Industrial establishments, total By fuels.. __ By waterpower r 1 _ . d o do _ do 1,442,182 1, 529, 581 131, 106 123, 536 121, 979 132, 119 137, 388 123, 394 132, 657 122,301 125, 073 141, 896 145, 708 146, 075 1,191,990 1, 282, 253 113, 094 105, 384 102, 514 110, 322 114, 774 101, 359 107, 833 99, 308 101, 347 118, 983 123,513 123,923 250,193 247, 328 18, Oil 18, 153 19, 465 21, 797 22, 614 22, 035 24, 824 22, 993 23, 727 22, 914 22, 194 22, 152 1,171.776 1,254,344 108, 928 102, 710 100, 257 108, 583 112,269 100, 878 107, 331 270,406 275, 237 22, 177 20, 827 21, 721 23, 536 25, 119 22, 516 25, 327 110,575 107,299 3,276 108, 429 105, 146 3,284 8,733 8,529 204 9,197 8,972 225 8,946 8,656 290 c Revised. Corrected. Revised annual total; revisons are not distributed to the monthly data. - Series discontinued, cf Data are reported on the basis of 100 percent content of the specified material unless 8,929 8,641 288 8,940 8,651 290 8,213 7,924 290 8,947 8,628 319 98, 619 101, 413 116, 548 119,677 119, 754 23, 682 23, 660 25, 348 26, 030 26, 322 8,744 8,448 297 8,852 8,545 307 8,778 8,484 294 8,434 8,196 238 8,432 8,198 234 otherwise indicated. 9Includes data not shown separately. §Data have been restated to exclude black blasting powder formerly included, f Revised data for the months of 1968 will be shown later. Oct. SURVEY OF CURRENT BUSINESS S-26 1970 1969 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1970 Sept. Annual November 1971 Oct. 1971 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. ELECTRIC POWER AND GAS—Continued ELECTRIC POWER— Continued Sales to ultimate customers, total (EEI) mil.kw.-hr. 1,307,178 1,391,359 126, 257 117, 258 110, 690 115, 649 122, 035 120, 810 119, 704 115, 975 113, 830 119, 699 128, 746 128, 685 Commercial and industrial: 286, 686 312, 750 29, 972 27, 109 24, 734 25, 147 26, 223 26, 029 25, 703 25, 320 25, 377 27, 838 31, 061 30,912 Small light and power§ do 557, 220 572, 522 49, 130 48, 614 47, 235 47, 583 47, 480 47, 457 48, 947 49, 051 49, 338 50, 493 49, 405 49, 698 Large light and power § do Residential or domestic Street and highway lighting Other public authorities Interdepartmental do do do do Revenue from sales to ultimate customers (Edison Electric Institute) mil $ 422 39, 819 973 3,426 415 4,531 407, 922 10, 772 35, 861 4,186 4,633 447, 795 11, 183 37, 816 4,660 20,139.3 22, 065. 9 2,033.3 1, 908. 3 1,807.8 1, 887. 8 1,978.1 1, 977. 5 1, 955. 3 1, 912. 6 1,900.1 2, 014. 7 2, 193. 9 2, 207. 2 354 42, 219 917 3,261 404 375 36, 465 978 3,314 404 368 33, 839 1,029 3,118 366 421 37, 860 1,081 3,172 385 445 43, 156 1,087 3,260 384 403 42, 268 1,004 3,267 382 380 36, 897 933 2,983 411 363 34, 263 888 3,198 402 355 36, 391 859 3,336 427 353 43, 205 863 3,436 423 351 43, 026 904 3,371 423 GAS Manufactured and mixed gas: uusio e , a pe , 577 539 36 571 535 34 563 528 34 571 535 34 574 538 35 572 536 34 1,522 818 671 1,481 825 625 165 64 99 351 190 151 646 392 238 328 177 143 129.9 79.1 48.3 132.3 82.4 47.4 16.1 8.4 7.5 33.1 20.4 11.9 60. 1 39.1 19.5 33.4 20.5 12.1 thous do 40, 905 37, 536 3,320 41, 204 37, 826 3,326 40, 393 37, 145 3,198 41, 204 37, 826 3,326 41, 599 38, 166 3,382 41, 373 37, 998 3,337 mil therms do do 152, 374 47, 372 99, 461 163, 199 48, 217 108, 848 31, 190 4,084 25, 634 39, 424 11, 584 26, 168 53, 770 22, 940 29, 147 39,458 10 759 27,467 Revenue from sales to consumers, total 9 __mil. $.. 9, 342. 0 10, 242. 6 1, 631. 7 567.9 4, 801. 1 5, 133. 9 Residential do 4,, 324. 9 4. 862. 4 1, 010. 8 Industrial and commercial > do 2, 550. 0 1, 271. 5 1,211.2 4, 002. 7 2,315.0 1, 609. 8 2, 613. 6 1 251 2 1,311.1 v Industrial and commercial Sales to consumers total 9 Residential -do mil therms do Revenue from sales to consumers, total 9 -mil. $._ Residential do Industrial and commercial do Natural gas: Customers end of period total 9 Residential Sales to consumers tota1 9 Residential Industrial and commercial FOOD AND KINDRED PRODUCTS; TOBACCO ALCOHOLIC BEVERAGES Beer: Production mil. bbl Taxable withdrawals do Stocks end of period do Distilled spirits (total): Production mil. tax gal-Consumption, apparent, for beverage purposes mil. wine gal__ Taxable withdrawals mil. tax gaL_ Stocks, end of period do Imoorts mil proof gal Whisky: Production mil. tax gal.. Taxable withdrawals do Stocks, end of period do Imports mil proof gal Rectified spirits and wines, production, total mil. proof gal_ _ Whisky do Wines and distilling materials: Effervescent wines: Production mil wine gal Taxable withdrawals do Stocks, end of period do Imports _ _ _ do Still wines: Production do Taxable withdrawals do Stocks, end of period do Imports. do 127.32 116.27 11.90 133. 10 122. 04 12.26 11.01 10.38 13.45 10.28 9.62 13.22 9.28 8.77 12.93 9.82 9.74 12.26 9.62 8.32 12.97 9.41 8.52 13.20 12.53 11.00 13.81 12. 33 11.04 14.07 12.37 11.05 14.40 13.71 12.87 14.25 13.28 12.48 14. 18 12.28 11.89 13.64 230. 02 212. 26 16.18 19.21 17.99 18.11 16.20 16.82 18.14 15.93 13.11 13.44 10.35 10.14 24. 99 31.46 28.98 29.76 47.71 24.60 29.22 33.79 30.21 32.49 361. 68 i 371. 47 35.17 12.32 15.64 12.41 16.99 11.62 13.41 16.04 18.22 16.32 13.86 16.73 13.78 164.55 173. 65 991.42 1, 008. 54 1,006.26 1,004.59 1,005.21 1,008.54 1,011.30 1,014.16 1,015.72 1,015.08 1,015.78 1,012.28 1,009.46 1,001.43 6.36 7.65 7.06 6.93 7.78 9.03 9.84 5.68 7.49 7.63 10.84 10.45 87.08 90.89 6.85 10.09 960. 51 8.08 6.61 7.58 958. 57 6.04 5.86 10.64 952. 85 6.59 18.55 169. 87 108. 01 938. 46 74.29 146. 36 112. 88 954. 58 75.59 10.37 10.67 955. 42 6.76 12.20 12.93 952.39 5.47 11.15 11.01 951 94 9.36 12.29 8.89 954. 58 8. 08 12.69 8.30 958. 21 5.60 116. 23 68.01 113.67 64.37 10.08 5.79 11.57 6.88 11.13 6.70 8.87 4.53 8.25 4.28 8.15 4.58 9.87 5.10 8.61 4.30 8.70 4.58 10.22 5.80 8.69 5.02 10.28 5.54 15.80 13.96 6.19 2.41 22.95 20.48 7.38 1.79 1.77 2.04 8.31 .17 1.98 2.09 8.17 .19 2.17 2.30 7.90 .21 2.50 2.86 7.38 .23 2.33 1.85 7.72 .13 1.96 1.52 8.11 .08 2.81 1.79 9.06 . 12 2.17 1.58 9.69 .14 1.08 1.44 9.24 .15 1.34 1.65 8.84 .15 1.50 « 1.21 9.01 .10 2.23 1.32 9.80 .17 35 277. 80 197. 23 306. 36 22.28 244. 78 216. 73 293. 32 28.23 70.81 18.73 238. 03 2.20 92.19 20.75 302. 36 2.51 38.34 19.45 313. 82 3.07 7.76 22.30 293. 32 3.46 5.43 19.85 276. 51 2.06 4.62 18.68 259. 80 1.81 5.28 22. 37 241. 99 2.65 6.13 20.39 225. 62 2.61 7.68 18.06 215.71 3.09 6.30 20.59 198. 93 3.38 5.32 17.40 186. 28 3.12 9.18 18.73 173. 30 3.59 5.38 16. 82 8.45 3.01 3.15 1.38 .62 5.96 2.80 1.31 4.32 12.96 7.78 960. 86 4.95 13.42 9.85 964. 24 6.75 10.47 8.53 963. 43 6.21 8.54 8.29 964. 97 4.08 15.75 403. 32 303. 08 126. 06 91.73 mil. Ib 1,118.2 do 88.6 .._$ per lb__ .685 1, 136. 7 118.8 .704 71.8 171.3 .713 81.6 147.5 .713 78.9 134.3 .709 93.1 118.8 .717 103.8 119.3 .708 97.8 133.2 .708 111.0 157.9 .707 113.0 180.4 .688 119.5 209.8 .687 112.2 235.1 .688 9.02 253.0 .687 7.96 246.8 .687 6.90 ' 222. 0 .692 1, 985. 9 1, 268. 4 2, 202. 6 1, 431. 2 167.6 104.5 172.2 103.4 161.5 95.9 179.1 109.0 181.0 113.8 168.7 104.8 202.8 126.9 210. 3 137.3 232. 5 159.0 233.8 161.9 209.0 141.6 196.7 129.6 177.8 112.4 317. 5 265.4 130.0 324.5 254.0 161.0 358.5 289.2 11.1 336.3 264. 8 15.6 326.8 254.8 18.0 324.5 254.0 24.6 320.9 255. 1 11.4 310.7 243.3 9.0 302.1 236.3 8.9 314.6 248.0 7.9 337.4 2b8.8 8.1 376.8 296.8 6.4 386.1 311.6 7.6 .661 .665 .603 .640 .649 Revised. 1 Reported annual total; revisions ai e not dist ributed tc the morithly dat a. §Data are not wholly comparable on a year to 3rear basis because of chang es from one .665 .679 .678 .678 .673 Distilling materials produced at wineries.-.do - DAIRY PRODUCTS Butter, creamery: Production (factory) Stocks, cold storage, end of period Price, wholesale, 92-score (N.Y.) Cheese: Production (factory), total American, whole milk mil. Ib do Stocks, cold storage, end of period do American, whole milk. . _. _ . do Imports do Price, wholesale, American, single daisies (Chicago) $ per lb_. r .678 .653 .656 classificat ion to an other. r 378. 8 303.9 8.9 .670 9 Inclu ies data not show n separa tely. r f 184.0 .688 357. 6 283. 7 14.0 335.5 262. 1 .669 .66 SURVEY OF CURRENT BUSINESS November 1971 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1970 1969 S-27 1971 1970 Annual Oct. Sept. Dec. Nov. Jan. Mar. Feb. Apr. June May July Sept. Aug. Oct. FOOD AND KINDRED PRODUCTS; TOBACCO—Continued DAIRY PRODUCTS— Continued Condensed and evaporated milk: Production, case goods: Condensed (sweetened) . mil. Ib (6) 6 1, 483. 8 Evaporated (unsweetened) __do Stocks, manufacturers', case goods, end of period: 1.9 Condensed (sweetened) mil. Ib 105.0 Evaporated (unsweetened) . do Exports: 52.1 Condensed (sweetened) do 37.1 Evaporated (unsweetened) _ do Price, manufacturers' average selling: 7.50 Evaporated (unsweetened) $ per case_ Fluid milk: Production on farms mil. Ib 116,345 57, 167 Utilization in mfd. dairy products _do 5.49 Price, wholesale, U.S. average $ per 100 Ib Dry milk: Production: 70.2 Dry whole milk mil. Ib 1, 452. 3 Nonfat dry milk (human food) do Stocks, manufacturers', end of period: 6.6 Dry whole milk do_._ 83.9 Nonfat dry milk (human food) do Exports: 15.6 Dry whole milk... _ do 111.6 Nonfat dry milk (human food) do Price, manufacturers' average selling, nonfat dry .235 milk (human food) $ per Ib 6 («) («) 115.7 16.4 33.3 (6) (6) 8 1, 268. 3 8 6 92.4 («) 187. 4 .6 1.2 85.8 (6) 6 6 (6) (6) 6 77.9 (6) 180. 0 6 147. 5 6.9 2.0 4.6 3.0 96 5 (6) 6 (6) 6 115 7 4 1 39 6 (6) 6 (6) (6) 86 8 81 3 6 90 3 6 (6) 109 0 134 2 6 (6) 6 (6) (6) 6 141 5 6 115. 8 («) (6) 6 io4 0 162. 4 172.9 26 11 3 2 7 2 2 38 8 5 4 2 1.6 2.9 9,871 5,193 5 74 6 67 6 17 2 3 4 4 133 8 6 6 105. 8 51 2 69 4 2 7 6 (6} (6) 6 (6) (6) 116 5 (8) (*) 7 6 6 (6) 84. 5 (6) 163. 0 .2 1.2 7.98 8.12 8.12 8.13 8.14 (8) 117, 436 60, 108 5.68 9,273 4,418 5 81 9,280 4,388 6 03 8,842 3,997 6 09 9 349 4,479 6 06 9 547 4 745 5 96 9 010 4 636 5 91 10 209 5 557 5 83 10 432 5 797 5 71 11 217 6 297 5 60 10 836 6 438 5 50 10, 311 5,681 5 61 68.7 1, 442. 8 4.0 54 108.9 6 7 115.8 57 111 8 7 0 131.1 9 0 149.2 9.3 88.2 174.6 8 4 177.8 137.3 4.7 50 89 8 3.990 4 55 104 9 136.9 157 6 164. 1 155.6 119.7 .7 5.1 4.0 89.6 81.1 4.7 5.6 117.6 5.3 4.7 8.6 6.6 4.7 144.8 122.8 101.7 101 4 5 5 97 7 13.8 212 3 .5 .7 7.7 .9 1.0 10 7 10 0 17 6 10 7 2 15.0 3 4 16 7 1.9 4.3 3.7 2.8 3.6 25 4 1 l 2 3 7 19 9 .263 .274 .273 .273 276 278 276 277 .304 .314 .318 .318 .320 .320 143 2 123.0 123 8 101 2 103 7 105 5 94 2 108 5 79 8 92 1 81.5 134 4 .8 9.0 8.2 7.5 ^6 16 92.2 101.4 7.8 9,389 ' 9, 376 4,531 ' 5. 98 7.0 6 5 GRAIN AND GRAIN PRODUCTS Exports (barley, corn, oats rye, wheat) Barley: Production (crop estimate) Stocks (domestic) end of period On farms Off farms _ , Exports, including malt§___ Prices, wholesale (Minneapolis): No. 2, malting No. 3, straight Corn: Production (crop estimate, grain only) mil. bu 1,059. 0 1 337 5 114.5 do do do do do 2 423. 5 426.7 264.6 162.2 8.3 2 410. 4 381.1 238.9 142.2 55.1 489.4 305.6 183.8 6.4 4.4 6.7 6.3 .2 8.7 1.12 1.12 1.14 1.13 1.19 1.18 1.19 1.17 1.21 1.18 1.22 1.20 1.24 1.24 1.30 1 29 2 4, 583 2 4, 110 4,316 3 323 993 553.5 3,743 2,730 1,013 572.0 3999 3569 3430 53.8 56.8 46.4 3,743 2 730 1,013 49.6 38.8 43 0 34 6 35 3 1.21 1.19 1.35 1.33 1.50 1.46 1.40 1.42 1.41 1.39 1.52 1.49 1.59 1.51 1 57 1.50 1 55 1.52 1 51 1.48 3950 885 724 Id 2909 915 704 211 1,098 703 504 200 " " 7 6 21.3 1.9 8 .76 $ per bu__ do nvl bu Stocks (domestic), end of period, total mil. bu On farms do O If farms. do Exports, including meal and flour do Prices, wholesale: No. 3, yellow (Chicago) $ per bu Weighted avg., 5 markets, all grades do Oats: Production (crop estimate) Stocks (domestic), end of period, total On farms-. _ Oft" farms. mil. bu do do do Exports, including oatmeal do Price, wholesale, No. 2, white (Chicago) $ per bu Rice: Production (crop estimate) . . mil. bags 9 California mills: Receipts, domestic, rough ... mil. Ib Shipments from mills, milled rice do Stocks, rough and cleaned (cleaned basis), end of period mil. Ib * .67 2 .72 7 381 1 238.9 142.2 257 142 115 7 4 3 0 6 4 0 9.2 1.26 1 25 1.26 1 26 1.29 1.28 * 156. 4 81.6 ••74.8 1.6 5 1.6 1.26 1.26 1.19 1 17 1.11 1 11 494 322 172 2 7 5 552 r 26.6 1, 563 1,169 ^394 27.6 40 1 37 3 68 3 1.51 1.54 1 59 1.52 1 49 1.43 1 29 1.29 1 15 1.13 2 531 1 861 670 665 425 240 852 246 6.1 7.4 r 14 .4 7 84 .82 83 78 75 3 3 813 1 097 f 201 816 280 312 5 1 3 4 g 80 68 64 68 282.9 1,755 1,393 67 110 160 68 100 47 84 78 79 59 117 47 268 184 161 180 202 113 323 264 76 66 126 60 119 86 270 82 42 79 102 82 76 112 135 77 114 101 88 109 113 1,672 1,482 547 472 429 367 373 349 428 240 294 139 323 108 279 67 268 28 221 141 206 924 458 1,627 1,695 4 183 .085 1,748 3 828 .085 1,502 1,950 1,. 852 447 1,563 1,461 1,258 1,009 .086 .087 809 268 .087 629 365 528 144 829 190 1, 504 .085 438 1,748 .086 .086 .086 .086 .087 .087 .087 .087 Rye: Production (crop estimate) . mil bu Stocks (domestic) , end of period . . _ . do Price, wholesales No. 2 ( Minneapolis).. $ per bu__ 231.6 29.8 1.17 238.6 41.5 1.15 27.9 1.21 ~".~95~ 2 1, 460 2313 2 1, 147 1,273 2 1, 378 2260 2 1 118 1 498 1,534 1,417 do do do 401 189 73 220 284 199 259 QIC .084 498 440 7 52 3 49.1 1.10 "Tl6~ ""I." 17* 41.5 1.15 "Tig" "Tl7~ 34.7 1.14 "Tig" "TIs" ."94" 65.0 .95 ."96 7 1 628 7 465 7 1 153 466 381 352 1,798 1,417 1 065 611 673 534 923 884 1,126 r Revised. » Preliminary. 1 Less than 50 thousand pounds. 2 Crop estimate for the year. 3 Old crop only; new crop not reported until beginning of new crop year (July for barley, oats, rye, and wheat; Oct. for com). * Average for Jan.-Sept. « Average for Jan., April- 885 7 84 2 90. & 2,012 1,515 6,497 4,438 Stocks (domestic), end of period, total On farms _ _ Off farms ] 10 1.11 7 915 704 211 6,605 4,818 . mil. bu do do do 1.16 1 16 1.09 1 09 Southern States mills (Ark., La., Tenn., Tex.): Receipts, rough, from producers, ... mil. Ib Shipments from mills, milled rice. _ do Stocks, dpmestic, rough and cleaned (cleaned basis), end of period mil. Ib Exports... do Price, wholesale, Nato, No. 2 (N.6.) $ per lb_. Wheat: Production (crop estimate), total Spring wheat Winter wheat Distribution 469 9 8 7 1 8 534 884 T 335 4S2 731 1 876 ' 386 240 824 679 M91 ' 1,053 Sept., and Dec. Condensed milk reported with evaporated to avoid disclosing operations of individual firms. 7 Nov. 1 estimate of 1971 crop. * Series discontinued. § Excludes pearl barley. 9 Bags of 100 Ibs. 6 SURVEY OF CURRENT BUSINESS S-28 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1969 1970 Annual November 1971 1970 Sept. Oct. 1971 Nov. Jan. Dec. Feb. Mar. May Apr. June July Aug. Sept. Oct. FOOD AND KINDRED PRODUCTS; TOBACCO—Continued GRAIN AND GRAIN PRODUCTS— Con. Wheat— Continued Exports, total, including flour Wheat only _. __ _ .. mil. bu . do 489.2 439.9 689.1 638.7 52.4 49.9 74.7 69.0 63.8 60.3 66.5 61.6 61.9 59.3 51.3 47.8 62.7 59.9 53.7 50.7 70.3 66.7 50.0 43.4 51.2 47.4 41.4 38.2 62.1 59.4 Prices, wholesale: No. 1, dark northern spring (Minneapolis) $ per bu_No. 2, hd. and dk. hd. winter (Kans. City).do Weighted avg., 6 markets, all grades _ . do 1.80 1.48 1.75 1.91 1.54 1.79 1.93 1.62 1.87 1.95 1.60 1.88 1.97 1.63 1.89 1.92 1.63 1.84 1.91 1.65 1.82 1.90 1.65 1.80 1.82 1.62 1.77 1.82 1.62 1.75 1.84 1.62 1.78 1.82 1.64 1.75 1.73 1.56 1.65 1.64 1.56 1.62 1.64 1.55 1.63 253, 094 4,409 563, 714 22, 159 393 49,361 23,364 407 51,708 20, 707 361 46,161 20, 754 361 46, 147 20, 894 361 46,405 19, 761 345 44, 038 21, 004 363 46, 705 19, 662 335 43, 525 20, 216 347 44, 970 20, 994 366 46, 658 20,225 349 45, 164 22, 164 ••378 49, 403 22, 130 378 49, 279 4,329 21, 596 4,438 1,074 2,438 1,537 4,329 2,104 1,134 1,528 4,732 1,188 1,282 1,536 4,586 2,841 1,627 1,374 1,178 6.179 5.569 6.275 5.713 6.413 5.713 6.413 5.650 6.363 5.588 6.350 5.588 6.313 5.613 6.250 5.500 6.238 5. 488 6.225 5.500 6.200 5.588 6.113 5.475 6.063 5.313 5.975 5.275 264 2,723 1,010 266 2,752 1,233 245 2,424 1,135 276 2,611 960 247 2,569 31,031 237 2,299 *879 299 248 2,681 2,544 3 1, 140 3 1, 032 203 2,536 3 1, 004 207 2,797 s 1, 005 205 2,725 3878 220 2,720 4 1,011 239 2,788 * 1, 018 28.97 28.99 33.00 28.44 29.68 33.00 27.00 28.03 34.00 26.45 27.57 33.50 28.83 29.42 34.00 31.80 31.69 40.00 31.42 31.88 41.00 31.96 32.07 41.00 32.35 31.78 39.00 31.91 30.60 39.00 31.90 30.32 39.00 32.77 32.41 35.00 32.21 31.72 38.00 78, 186 14, 871 7,034 1, 303 7,662 1,451 7,350 1,490 7,990 1,532 7,489 31,412 6,379 * 1, 230 8,266 3 1, 479 7,794 3 1, 455 6,932 s 1, 399 6,983 3 1, 438 6,922 6,220 3 1, 163 * 1, 296 7,379 4 1, 308 1,357 22.11 20.43 17.37 15.02 14.96 15.76 19.03 16.88 16.04 17.00 17.68 18.85 18.14 18.28 19.19 19.1 14.3 13.4 11.9 11.1 10.7 13.4 11.8 11.3 12.3 12.2 14.0 15.6 16.1 19.5 10, Oil i 2, 468 899 244 917 262 736 216 847 201 903 3178 806 <131 920 3 178 899 3143 772 3186 827 3255 815 3205 812 4 212 919 *233 * 229 27.43 26.75 26.75 25.38 23.88 24.00 25.12 26.88 30.25 31.12 31.25 28.88 27.75 27.50 25.88 33, 369 i 34, 587 3.031 3,198 2,958 3,226 3,076 2,663 3,234 3,075 2,940 3,104 2,879 2,966 3,116 637 571 1,685 759 518 1,844 588 53 167 646 49 155 715 74 134 759 51 143 771 39 133 749 41 112 791 49 151 869 35 141 901 46 133 890 43 170 835 39 155 773 51 166 18, 873 363 28 1,194 1 19, 496 347 32 1,319 1,701 296 2 130 1,735 310 3 113 1,533 326 3 94 1,685 347 3 102 1,645 335 3 94 1,463 313 4 72 1,693 306 5 99 1,608 299 5 99 1,599 295 4 87 1.739 306 4 124 1,682 321 3 111 1,667 341 3 127 1,720 ••359 3 173 360 .490 .488 .473 .465 .454 .503 .539 .536 .546 .561 .549 .546 .561 .549 .536 510 16 514 19 44 21 46 21 44 19 48 21 44 20 49 20 47 20 40 23 40 23 39 21 39 19 13, 986 14, 577 1,286 1,417 1,497 1,383 1,157 1,491 1,420 1,301 1,324 1,157 1,260 1,350 11,563 211 152 316 12, 119 336 67 347 1,066 210 11 25 1,174 246 9 30 1,143 304 9 30 1,249 336 5 28 1,153 353 4 27 978 344 4 29 1,226 389 3 36 1,195 467 4 30 1,098 498 5 31 1,104 476 5 32 969 405 4 33 1,065 332 7 30 1,132 '309 7 31 308 .580 .575 .565 .569 .499 .560 .497 .510 .485 .461 .486 .445 .498 .479 .528 .530 .513 .438 .517 .432 .521 .485 .535 .501 .515 .584 .536 .515 .501 .498 .526 158 77 20 .153 Wheat flour: Production: Flour thous sacks (100 Ib ) 254, 094 Offal thous. sh, tons 4,558 Grindings of wheat. _. _ _ _ thous. bu__ 567, 956 Stocks held by mills, end of period thous. sacks (100 lb.)._ 4,595 Exports do 21, 130 Prices, wholesale: Spring, standard patent (Minneapolis) $perl001b-. 5.923 Winter, hard, 95% patent (Kans. City) ..do 5.438 1.72 1,58 1.69 LIVESTOCK Cattle and calves: Slaughter (federally inspected): Calves thous animals 3,025 3,637 Cattle do 30, 793 30, 536 Receipts at 38 public markets do i 12, 652 111,922 Prices, wholesale: Beef steers (Omaha)* . . . . _ _ . $ per 100 lb-_ 29.28 29.03 Steers, stocker and feeder (Kansas City)._do 30.10 29.30 Calves, vealers (Natl. Stockyards, 111.)- -do 37.29 38.17 Hogs: Slaughter (federally inspected)., thous. animals.. 75, 682 Receipts at 38 public markets do 15, 210 Prices: Wholesale, average, all grades (Sioux City)* $ per 100 lb- 23.65 Hog-corn price ratio (bu. of corn equal in value to 100 Ib. live hog) 19.8 Sheep and lambs: Slaughter (federally inspected) __ thous. animals. . 10, 067 Receipts at 38 public markets _ do i 2, 704 Price, wholesale, lambs, average (Omaha)* $ per 100 Ib.- 28.53 1 1,170 32.11 34.07 MEATS AND LARD Total meats: Production (carcass weight, leaf lard in) , inspected slaughter mil. lb_. Stocks (excluding lard), cold storage, end of period.. mil. Ib Exports (meat and meat preparations) _ _ do. _ Imports (meat and meat preparations) do Beef and veal: Production, inspected slaughter _ _ do Stocks, cold storage, end of period do . _ Exports do Imports do Price, wholesale, beef, fresh, steer carcasses, choice (600-700 Ibs.) (New York) $perlb._ Lamb and mutton: Production, inspected slaughter mil. Ib Stocks, cold storage, end of period. _ _ do _ Pork (including lard), production, inspected slaughter mil Ib Pork (excluding lard) : Production, inspected slaughter. . do Stocks, cold storage, end of period do Exports _ do Imports do Prices, wholesale: Hams, smoked composite $perlb Fresh loins, 8-14 Ib. average (New York). .do Lard: Production, inspected slaughter .. mil. Ib Stocks, dry and cold storage, end of period.. do Exports _ . _ . do Price, wholesale, refined (Chicago) - $ per Ib POULTRY AND EGGS Poultry: Slaughter (commercial production) mil. lb__ Stocks, cold storage (frozen), end of period, total mil. Ib.. Turkeys do Price, in Georgia producing area, live broilers $ per lb__ 2 .492 1,755 70 262 .145 1,776 82 366 .160 158 60 28 .154 9,492 10, 445 1, 020 307 192 391 219 516 343 176 59 37 .158 1,092 624 447 .140 .120 .123 .110 ' Revised. « Corrected. Annual total reflects revisions not distributed to the months. 2 Beginning Jan. 1969, quotations are on carlot rather than l.c.l. basis as previously. 38 20 1,383 174 74 22 .163 178 82 42 .145 166 91 9 .130 129 86 40 .138 193 81 44 .155 162 80 39 .150 926 845 762 676 791 486 313 391 219 369 206 331 174 294 144 .120 .110 .125 .130 .130 .125 3 45 ' 21 773 21 146 91 31 .146 158 101 18 .143 136 89 11 .151 142 83 16 .158 757 749 894 909 1,020 265 120 251 111 287 140 354 203 462 308 '547 '389 640 477 .135 .140 .155 .135 .135 .115 r 1 ' 776 48 223 4 Data are for 41 public markets. Data are for 40 public markets. *New series. Monthly data for earlier years will be shown later. 1,003 SURVEY OF CURRENT BUSINESS November 1971 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1969 1970 Annual S-29 1970 Sept. Oct. 1971 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. FOOD AND KINDRED PRODUCTS; TOBACCO—Continued POULTRY AND EGGS— Continued Eggs: Production on farms mil. cases O Stocks , cold storage, end of period: Shell thous. cases O Frozen. _ _ _._ mil. lb_ Price, wholesale, large (delivered; Chicago) $per doz_. 191.9 195.2 15.7 16.4 16.1 17.0 17.1 15.5 17.3 16 8 17.3 16.5 16 7 16.5 15.9 16 6 51 43 51 50 178 60 136 58 76 55 51 50 60 49 53 51 139 54 80 60 101 67 98 75 148 80 141 81 ' 134 '84 149 82 .460 .425 .455 '.363 < .394 .410 .372 .332 .331 .330 ".291 « .298 « .330 •=.345 < .329 .324 Cocoa (cacao) beans: Imports (incl shells) thous. Ig. tons Price, wholesale, Accra (New York) $ per lb,_ 218.4 .458 279.2 .341 23.3 .378 26.7 .354 14.5 .354 25.4 .329 45.0 .309 22.8 .273 25.2 .279 28.2 .273 17 8 .253 25 3 .268 28 7 .280 23.2 .286 24.6 .271 .250 Coffee (green): Inventories (roasters', importers', dealers'), end of period thous bagsd" Roastings (green weight) do 3,811 20, 851 2 593 20 075 3,461 4,352 Imports, total _ _ _ . -. _ do _ From Brazil do Price, wholesale, Santos, No. 4 (N.Y.) $ per Ib Confectionery, manulacturers' sales mil. $ 20, 232 5,780 .408 1,870 19, 727 4 712 .557 1,906 1,355 1,713 1,597 1,382 2,002 291 822 .578 .588 .575 .550 .550 mil. Ib 275 306 Sugar (United States): Deliveries and supply (raw basis) :§ Production and receipts: Production --thous. sh. tons Entries from off-shore, total 9 do Hawaii and Puerto Rico do 4,300 6,350 1,501 MISCELLANEOUS FOOD PRODUCTS 387 171 1,528 1,475 2,030 1,759 1,941 2,132 2,720 2,754 971 .550 .480 993 178 176 .450 .438 .438 139 .433 .433 135 .430 282 114 310 317 666 570 180 163 310 313 312 306 275 247 210 196 198 231 270 296 330 4 710 6,675 1 497 139 515 138 720 708 226 1,043 992 367 120 664 509 112 2,218 15 315 143 42 151 412 119 150 88 97 170 178 176 103 441 159 97 692 143 107 775 80 601 50 10, 804 10, 655 2,796 11,467 11 317 2 784 1,093 1,079 1,046 931 912 833 822 727 720 860 851 2,943 2,660 894 883 2,524 1,087 1 068 2,156 1,034 1 020 1,932 * 1, 113 3,003 1,026 1 013 2 701 1,121 1,107 2,202 718 706 1,414 1,055 1,044 2,784 r 1, 629 p 1, 464 sh tons 968 7 892 26 194 128 146 50 44 12 1 179 21 25 37 84 80 thous sh tons do do 4 776 1,024 5 217 l'522 35 565 205 10 368 80 4 323 95 1 553 178 2 325 4 4 239 30 2 477 84 7 650 142 6 412 96 2 479 108 1 476 170 3 559 179 2 675 178 6 Deliveries, total 9 For domestic consumption Stocks, raw and ref., end of period. Exports, raw and refined Prices (New York): Raw, wholesale Refined: Retail (incl. N.E . New Jersey) Wholesale (excl. excise tax) Tea Imports 222 367 5,282 4,338 3, 027 ' 4, 663 199 Fish: Stocks, cold storage, end of period Imports: Raw sugar, total 9 From the Philippines Refined sugar, total .. _ 224 r 2,537 5,164 2 593 5,190 do do do 124 156 121 .078 .081 .081 .082 .080 .081 .084 .084 .084 .082 .084 .086 .086 .086 .086 $ per 5 Ib $ per Ib .638 .107 674 .683 . 114 .678 .114 .680 .114 .677 .114 .680 .114 .679 .114 687 .117 .695 .116 .695 .116 .693 .116 .689 .118 .701 .118 .703 .118 thous Ib 139, 962 135 202 10, 805 11,971 10, 409 12, 682 13, 226 12, 360 15, 073 18 078 15, 128 16, 529 20 150 25, 141 19, 427 3, 480. 5 138 7 3 587. 6 132 9 298.2 127 0 316.5 120.5 305.6 122.5 299.0 132.9 291.5 134.7 309.2 130.3 300.0 134 7 272.4 134 4 277.1 128 0 290.4 136.7 261.5 111.1 r 305. 6 r 120. 7 309.0 113.6 3 143.7 70 5 3 389.3 75 6 268.6 68 5 289.4 80.0 286.7 83 4 299.9 75.6 283.9 74.4 281.7 71.6 292.0 70 7 270.1 72 0 288.6 81 1 332.6 82.2 290.5 71 2 ' 309. 9 '80 0 301.5 65 5 2 181 9 52.1 2 230 3 45.6 189.6 50.3 200.7 52.3 187.2 50.4 216.7 45.6 212.9 50.4 189.0 59.4 195 9 57.7 181 0 55.9 176 4 61.2 185.9 61.6 163.4 72.9 ' 173. 3 65.5 194.4 63.5 260 289 290 294 306 306 .306 306 305 305 305 305 308 .312 .310 534 6 510 9 46.0 558 2 567 7 46.7 48 3 40 9 36.9 47 0 45 1 36.3 45 6 49 4 37.9 46 9 48 0 46.7 60. 1 51 5 47.0 49 1 61 7 37.7 51 7 53 3 37.0 43 2 44 4 34.9 42 8 44 9 42.4 45 3 46 6 45.6 40 2 40 4 49.9 r 40 8 48 3 51 2 62.9 4,655. 0 2,595.2 348.0 4 876.8 2 551. 5 396.1 419.5 216.3 369.5 423.2 209.2 348.3 401.5 208.8 392.2 446.6 220.5 396.1 422.7 218.0 423.5 385.2 201.4 349.6 438.5 233,5 380.6 392.0 216.4 363.9 400.0 227.1 374.0 439.9 231.4 401.9 393.5 200.5 441.5 171.6 75 7 84.0 207.0 68.7 103.5 27.4 20.8 110.2 128.6 114.3 386 3 547.5 732.6 205.9 424.6 00 544.0 749.6 202 9 584.2 (d) 47.6 62.1 165.0 63.9 (d) 40.9 60.4 176.0 14.1 465 5 438.1 441. 1 474 0 440 9 449.6 42.0 42.3 43.3 54.7 40.1 36.9 36.4 51.3 $ per lb__ 112 .085 FATS, OILS, AND RELATED PRODUCTS Baking or frying fats (Incl. shortening): Production __._ . mil. Ib Stocks, end of period© do Salad or cooking oils: Production do Stocks end of period© do Margarine: Production do Stocks, end of period© do Price, wholesale (colored; mfr. to wholesaler or large retailer* deJivored) $ per Ib Animal and fish fats:A Tallow, edible: Production (Quantities rendered) mil Ib Consumption in end products do Stocks, end of period 1_ _ do Tallow and grease (except wool), inedible: Production (quantities rendered) do Consumption in end products do Stocks, end of period 1_ _ __ do Fish and marine mammal oils: Production do Consumption in end products do Stocks, end of period! do Vegetable oils and related products: Coconut oil: Production' Crude mil Ib Refined do Consumption in end products do Stocks, crude and ref., end of period If do Imports do Corn oil: Production* Crude do Refined do Consumption in end products do Stocks?, crude and rp.f.. anrl nf nprinrllT rir» r S4 1 A3 9 6.0 (d) 51.0 62.5 145.6 27.0 34.0 34.6 38.0 fin. 1 5.7 6.7 4.4 Revised. v Preliminary, Data withheld to avoid disclosure of operations of individual firms. GCases of 30 dozen. cTBags of 132.276 Ib. §Monthly data reflect cumulative revisions 7.6 4.8 103.5 (d) 44.6 63.6 202.9 12.3 1.4 5.6 72.0 (d) 48.7 63.7 217.0 129.2 .6 4.4 50 1 '•57.6 r 403. 1 r 222. 2 r 424. 5 .6 4.7 9.2 4.0 21.8 54.8 55.3 60.0 65.8 88.0 132.0 5.6 '58.5 ••4.5 62.7 148.1 r 155. 1 (d) 44.2 60.9 180.9 41.7 (d) 50.6 68.9 182.5 52.9 (d) 49.5 64.3 169.3 54.9 (d) 45.0 63.4 167.1 47.5 (d) 49.4 68.4 167.6 45.5 (d) 39.9 52.1 177.3 35.3 '36.2 '53.4 ' 153. 1 30.2 4.3 5.3 (d) 441.0 236.0 409. 0 29.8 5.4 139. 2 (d) 47.6 61.3 147.2 79.3 42.6 42.2 38.4 57.9 'fi3.8 57.1 for prior periods. 9 Includes data not shown separately: see also note " &". AFor data on lard, see p. S-28. ©Producers' and warehouse stocks. ^Factory and warehouse e stocks. Corrected. 34.7 39.1 40.4 43.2 38.0 39.6 39.5 36.0 37.3 31.9 34.4 37. 1 43.7 38.2 35.2 47.0 41.4 34.2 35.5 fifi 8 41.0 37.2 33.5 42.7 34.6 38.2 64.7 42.4 39.1 36.0 65.fi '40.1 33.7 35.9 SURVEY OF CURRENT BUSINESS S-30 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1969 1970 November 1971 1970 Annual Sept. Oct. 1971 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. FOOD AND KINDRED PRODUCTS; TOBACCO—Continued FATS, OILS, AND RELATED PRODUCTS- Continued Vegetable oils and related products— Continued Cottonseed cake and meal: 2, 001. 4 Production thous. sh. tons 74.8 Stocks (at oil mills), end of period_. do , Cottonseed oil: Production: Crude mil. Ib. 1, 425. 8 1, 252 0 Refined do Consumption in end products do 889.7 Stocks, crude and refined (factory and warehouse") . end of period _ _ _. ._ -.-mil. Ib-, 398.6 246.5 Exports (crude and refined) do Price, wholesale (N.Y ) $per Ib .142 Linseed oil: Production, crude (raw) mil Ib Consumption in end products _ _ . _ do _ Stocks, crude and refined (factory and warehouse), end of period mil. Ib Price wholesale (Minneapolis) $ per Ib Soybean cake and meal: Production thous sh tons Stocks (at oil mills) , end of period do Soybean oil: Production: Crude mil ib Refined do Consumption in end products - - do Stocks, crude and refined (factory and warehouse) , end of period mil. Ib Exports (crude and refined) ._ - d o Price, wholesale (refined; N Y ) $ per Ib 1, 725. 8 85.8 45.2 39.3 194.1 54.2 219.2 82.9 218.2 85.8 215.8 103.2 202.4 125.5 192.2 136.4 145. 3 134.5 111.1 148.9 86.1 136.0 61.1 109.5 1,211.4 1, 019. 2 932.0 30.5 27.6 65.8 134. 3 71.6 77.3 153.4 116.0 79.6 152.6 116.6 76.9 151.5 108.5 67.8 141. 2 108.6 73.6 134.0 119.8 69.4 103.3 77.2 56.1 78.8 80 4 61.2 61.0 73.2 90.1 43.5 44.9 50.1 184.3 369.8 .175 121.4 17.8 .167 140.1 12.0 ,167 163.5 18.6 .180 184.3 36.7 .178 202. 3 43.5 .183 224.6 39.2 .195 246.9 40.3 .195 265.7 18.2 .193 279.7 21.4 .188 224.6 31.7 1.88 291 8 193 9 314.5 193.2 36.2 16.8 30.7 15.1 26,8 14.2 27.5 12.7 31.9 13.3 32.4 15.8 34.9 18.4 36.7 19.6 36.8 19.6 41.4 22.7 128 8 120 148.5 .109 129.9 .100 134. 9 .100 144.9 .100 148.5 .095 157.5 .095 170.5 .095 180.7 .090 192.8 .088 187.2 .088 203.8 .088 14,716.5 17, 379. 2 112.2 103.2 1.238.4 106.8 1,530.2 139.8 1,507.5 158.2 1,560.4 112.2 6 804 7 5, 860. 0 5 948. 2 8, 085. 9 6, 276. 3 6, 322. 7 563.8 491.9 524. 3 729.8 534. 5 548. 2 705.6 514.5 519. 9 727.7 538.8 552. 3 724.8 543.5 534. 7 653.2 511. 1 505,8 695.9 557, 9 535.0 695.7 495.0 497.9 696.4 506.7 505.6 670.9 526.7 556.3 674 9 482 9 497.3 517 2 761.1 110 755. 7 1, 372. 4 .133 543.4 165.2 .137 562.3 103.9 .161 717.6 52.7 .172 755.7 174. 6 .163 751.8 112.0 .168 787.8 109.3 144 756.0 156.0 .145 765.8 168.0 .135 758.0 191.8 137 719.0 140.9 .146 745.3 189.0 159 39, 336 20, 362 32, 303 17, 142 4,763 52, 352 17, 252 44, 458 18, 136 47 434 31. 305 4, 369 39, 798 20, 413 36 112 17, 256 41,791 15, 686 76, 841 49,965 3,620 45, 634 510 2,357 3,466 42, 518 505 2,198 3,954 43 360 556 2, 381 3, 366 43 590 558 2. 258 4,142 43 474 571 2,476 4,454 46, 582 552 3,038 6,852 4,270 39 596 45 595 552 497 3 033 4,234 5.753 11 985 14 933 168 189 1 251 1 611 11 512 289 1 239 13 124 12 851 254 258 1 304 1,235 7 118 11 583 198 'l31 1,166 694 12, 517 127 1,338 TOBACCO Leaf: i 1, 804 Produ ction (crop estimate) mil. Ib Stocks . dealers' and manufacturers' end of period 4,940 mil Ib Exports, incl. scrap and stems thous. Ib 579,106 Imports, incl. scrap and stems do __ 213, 402 5,006 510,325 235, 428 4.650 46, 766 15, 364 53, 650 21,982 72, 845 33, 652 5,006 62, 477 14, 673 Manufactured: Consumption (withdrawals): Cigarettes (small): Tax-exempt _ Taxable Cigars (large), taxable Exports, cigarettes. _ 51, 166 532, 764 6,701 29, 147 4,292 47, 245 593 2,188 3,926 50, 665 653 2,656 3,423 44 026 581 2,034 4,138 41,196 495 2,352 - millions do do .. ...do. . 47, 263 510, 532 6,744 24, 970 1,560.3 1, 387. 2 1, 463. 2 1,458.9 138.4 152.0 170.3 173.6 '66.4 101. 9 50.3 81.9 ' 47.0 61.2 '57.8 34.3 44.9 51.3 167.2 ' 142. 9 69.8 14.3 1.93 2.06 91.7 26.2 -2.01 '34.0 ' 19.4 35.4 18.0 193.2 ' 177. 1 .088 .088 179.9 .088 r 25.9 17.9 1, 473. 8 1, 257. 1 189.7 120.3 1 464.8 1,401.6 1 429 7 149.4 192.4 198.7 r 692.2 532. 8 537.3 594.2 565.7 554.7 819. 2 78.1 .172 755.0 122.2 . 155 i 1, 906 31,804 LEATHER AND PRODUCTS HIDES AND SKINS Exports: Value, total 9 thous $ Calf and kip skins thous, skins Cattle hides ... _ __ ._ thous. hides 152 446 145, 200 1 652 1,316 15, 222 14, 778 10, 952 124 1,235 11 205 131 1,196 11 593 116 1 247 11 619 'l76 1,258 11 642 137 1,207 Tm ports: Value, total 9 Sheep and lamb skins Goat and kid skins 62 400 2 20 716 2 5 068 51,300 18, 701 3,028 2,800 849 36 2 800 863 20 3 500 1 242 65 3 000 934 45 3 100 832 79 3 goo 1*548 17Q 6 200 2 879 180 7 400 3 591 ' 317 5 000 1 670 170 6 900 2 774 185 4 900 1 877 'l33 4 300 1 151 81 4 000 920 134 561 146 .331 .129 .320 .130 .320 .131 .320 .131 .315 .110 .300 .104 .300 115 .275 115 300 158 .300 168 .300 .141 .300 .148 .300 .148 .280 .155 3 381 22 030 5 856 25 242 2 717 20 353 3 979 23 598 184 1,681 244 1,989 215 1 784 225 2,117 213 1 585 202 2 013 188 1 701 204 1,949 163 1 660 143 1 803 124 1 631 162 1 820 129 1 871 169 1 768 128 1 848 ' 193 1 848 132 1 745 247 1,663 142 1,821 327 1,894 83 1,285 188 1 458 123 1,652 242 1,900 thous. sq. ft 265,802 79 365 5,870 6 300 5 661 8 117 6 557 6 457 7 784 7 256 7 391 8,144 5 534 6,540 6,830 Prices, wholesale, f.o.b. tannery: Sole, bends, light ._ index, 1967=100 Upper, chrome calf, B and C grades index, 1967=100 109.5 114 0 113 4 113 4 113 4 113 4 111 8 111 8 111 8 116 4 116 4 114 1 114 1 114 1 114.1 85.2 87.7 87.7 87.7 77.2 thous $ thous pieces do Prices, wholesale, f.o.b, shipping point: Calfskins, packer, heavy, 9H/15 IbHides, steer, heavy, native , over 53 Ib $ per lb_do LEATHER Production: Calf and whole kip thous, skins Cattle hide and side kip - thous. hides and kips Goat and kid thous. skins Sheep and Iamb do Exports: Upper and lining leather - 99.7 84 3 LEATHER MANUFACTURES Shoes and slippers: 576, 961 Production, total t . _ . _ -thous. pairs Shoes, sandals, and play shoes, except athletic 1 463, 388 thous pairs Slipperst do 100, 943 Athletic t do 8 993 Other footwear t do 3,637 441 206 107, 562 9 490 3*305 36 188 10,209 838 487 2 324 2 154 108 9 111 9 111 0 Exports . . do Prices, wholesale, f.o.b. factory: Men's and boys' oxfords, dress, elk or side upper, Goodyear welt index, 1967=100 Women's oxfords, elk side upper, Goodyear welt _ index 1967—100 Women's pumps, low-medium quality do r 80 6 80.6 80.6 80 2 17, 562 48 821 40 770 36 714 10 868 M35 452 30 749 8,953 802 391 219 213 113 3 114 6 116 2 117 1 116 4 117 5 558, 530 Revised. i Crop estimate for the year. 23 Annual total reflects revisions not distributed to the monthly data. Nov. 1 estimate of 1971 crop. 1 80 2 79 4 79 4 43 255 44, 596 44, 727 50 153 46, 747 43, 916 46,490 37,556 r 35 395 6 738 827 449 36 709 6 889 752 504 36 614 6 910 842 529 40 650 8 245 937 321 37, 432 8,104 919 292 34 477 8,422 781 236 36,403 9,086 781 220 30885 5,962 592 117 r 192 198 141 248 175 167 146 211 144 114 6 114 6 114 6 116 7 116 7 117 1 117.1 117 1 117.1 117.1 118.3 118.3 116 4 117 5 116 4 117 5 116 4 117 5 118 9 121 2 120 2 121 2 120 2 121 2 120 2 121 2 120 2 121 2 120 2 121.2 120.2 121 2 120 2 121 2 120.2 121.2 82 7 c 9 Includes data for items not shown separately. Corrected. ^Revisions for Jan. 1968-Aug. 1969 will be shown later. 46,092 45, 584 35 567 ' 9,r 654 728 143 34, 620 9,924 870 170 163 226 SURVEY OF CURRENT BUSINESS November 1971 1969 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1970 Annual S-31 1971 1970 Sept. Oct. Nov. Jan. Dec. Feb. Mar. Apr. May June July Aug. Sept. Oct. LUMBER AND PRODUCTS LUMBER— ALL TYPES 9 1 National Forest Products Association: Production, total mil bd. ft Hardwoods do Softwoods do. .. Shipments, total Hardwoods Softwoods 37, 943 8,468 29, 481 36, 603 7,964 28, 639 3,104 641 2,463 3,201 681 2,520 2,733 587 2,146 2,639 535 2,104 2,794 571 2,223 2,983 637 2,446 3,339 609 2,830 3,451 577 2,874 3,168 599 2,569 3,384 613 2,771 3,194 590 2,604 3,220 502 2,718 3,242 532 2,710 37, 615 8,676 28, 943 35, 596 7,078 28, 518 3,059 587 2,472 3,140 657 2,483 2,694 574 2,120 2,632 511 2,121 2,738 566 2,172 3,075 682 2,493 3,472 637 2,835 3,560 644 2,916 3,313 659 2,654 3,537 587 2,950 3,209 584 2,625 3,345 583 2,762 3,294 583 2, 7.11 5,332 630 4,704 6,363 1,516 4,847 6,235 1,460 4,775 6,288 1,476 4,812 6,233 1,395 4,838 6,363 1,516 4,847 6,428 1,529 4,899 6,277 1,484 4,793 6,143 1,355 4,788 6,042 1,287 4,755 5,895 1,225 4, 670 5,741 1,250 4,491 5,723 1,253 4,470 5,594 1,145 4,449 5,532 1,084 4,448 1 1, 158 16,263 1,266 6,095 139 553 97 533 99 514 103 422 80 605 87 473 91 683 90 563 88 650 95 761 79 767 85 624 72 797 7,844 486 7,994 457 633 395 741 445 605 424 623 457 778 693 702 630 738 603 912 689 652 646 814 692 739 810 685 715 735 735 do do do_ 8,218 8,179 1,010 8,071 8,023 1,058 693 673 1,057 692 691 1,058 637 626 1,069 579 590 1,058 635 642 1,051 684 665 1,070 806 765 1,111 792 826 1,077 679 695 1,061 767 818 1,010 643 621 1,032 769 757 1,045 715 715 1,045 do _._ do_ do 359 88 271 380 87 292 21 5 16 31 9 22 27 7 20 44 10 35 28 7 21 29 9 21 35 8 27 36 11 24 27 5 22 36 10 25 9 2 6 17 6 12 12 3 8 _ . _.do. do . do Stocks (gross) , mill, end of period, total — do Hardwoods _ _ _ do Softwoods,.. __do Exports, total sawmill products _ Imports, total sawmill products do. _. ..do SOFTWOODS 1 Douglas fir: Orders new Orders, unfilled, end of period mil. bd ft do Production Shipments Stocks (gross), mill, end of period. Exports, total sawmill products Sawed timber Boards, planks, scantlings, etc Prices, wholesale: Dimension, construction, dried, 1" x 4", R. L. $ p e r M bd. ft-. Flooring, C and better, F. G., \" x 4", R. L. $per M bd. f t _ . 113. 52 92.22 95.04 94.27 92.85 212. 59 226. 76 228. 14 228. 14 229.65 . _ mil. bd. ft do 7,336 324 7,721 373 671 383 680 351 607 333 660 373 Production. ___ _ ____do._ Shipments do Stocks (gross), mill and concentration yards, end of period _ .- _ mil. bd. ft 7,645 7,434 7,700 7,672 650 ••662 720 712 641 625 Southern pine: Orders, new . .. Orders, unfilled, end of period Exports, total sawmill products M bd. ft Prices, wholesale, (indexes): Boards, No. 2 and better, 1" x 6", R. L. 1967=100.. Flooring, B and better, F. G., 1" x 4", S. L. 1967=100.. Western pine: Orders, new _ mil. bd. ft Orders, unfilled, end of period. __ _ _ _ do Production Shipments . __ _ _. do do Stocks (gross) , mill, end of period do Price, wholesale, Ponderosa, boards, No. 3, 1" x 12", R. L. (6' and over) $ per M bd. ft._ 1 90.68 2 91. 45 98.65 110. 95 111.50 112. 12 116. 72 125. 72 129.92 128. 88 226. 54 2 228. 10 228. 10 228. 10 228. 10 224.99 224.22 224. 22 232.02 232. 02 744 431 802 484 791 432 887 458 788 457 865 465 840 476 724 440 690 405 641 620 670 686 739 749 797 843 842 861 779 789 820 857 805 830 721 747 715 725 1,348 1,376 1,331 1,339 1,355 1,376 1,360 1,350 1,304 1,285 1,275 1,238 1,213 1,205 1,195 75,687 78,418 5, 557 5,100 6,405 5,638 4,785 4,887 6,232 6,173 6,091 6,931 8,563 5,140 6,973 127.5 107.9 109.8 112.7 110.7 109.7 112.7 119.8 124.5 127.1 130.7 133.2 140.7 143.2 143.2 119.8 122.9 123.3 123.9 123.9 123.3 125.0 127.8 129.6 131.3 131.3 132.6 136.0 136.0 136.0 9,593 364 9,341 334 887 379 812 354 646 307 688 334 746 445 778 424 869 374 925 386 845 356 973 374 940 437 872 368 971 365 9,999 9,768 9,378 9,371 900 918 860 837 684 693 646 661 638 635 740 799 924 919 931 913 823 875 876 955 868 877 914 941 974 974 1,627 1,634 1,635 1,658 1,649 1,634 1,637 1,578 1,583 1,601 1,549 1,470 1,461 1,437 1,437 107. 18 83.79 81.31 78.54 75. 64 74.90 72.36 75.01 84.94 101. 21 99.29 92.70 96.40 106.24 109. 10 380.6 12.0 304.4 9.1 25.6 9.3 23.6 7.8 19.7 7.0 26.6 9.1 25.5 9.7 24.6 10.5 25.6 9.4 25.2 9.3 27.7 9.3 32.1 11.6 32.3 14.5 27.0 10.0 26.9 8.4 393.1 387.8 29.6 315.2 306.7 33.3 29.0 27.4 31.2 28.3 25.2 33.6 22.2 20.5 35.5 23.9 24.7 33.3 23.2 23.8 32.8 24.5 23.8 33.5 28.7 26.8 35.4 28.2 25.2 38.1 24.7 27.7 35.2 25.4 29.9 32.5 25.0 29.4 28.1 28.3 31.3 25.1 37.3 27.8 24.6 HARDWOOD FLOORING Oak: Orders, new . _ Orders, unfilled, end of period mil. bd. ft do Production... ._ Shipments Stocks (gross) , mill, end of period do do do METALS AND MANUFACTURES IRON AND STEEL Exports: Steel mill products... _ _ _ _ _ thous. sh. tons Scrap. - -_ _ do Pig iron.. do i 5, 229 9,176 44 7,053 10, 365 310 398 832 20 379 722 18 355 781 18 299 730 43 Imports: Steel mill products Scrap _. Pig iron _ _ 14, 034 412 417 13, 364 346 266 1,277 23 33 1,334 31 26 1,714 35 14 1 56, 287 » 36, 929 i 194, 816 6,552 1 52, 464 1 33, 889 1 4,450 2,705 6,984 7,008 4,269 2,940 6,814 7,346 r 258 641 1 199 460 (3) 186 472 3 189 526 7 183 642 1 249 579 5 '298 440 5 ••164 552 4 286 794 3 1,347 29 49 1,305 28 6 1,230 18 5 1,254 24 7 1,363 26 31 1,792 20 26 2,112 30 40 1.688 24 37 1,554 33 39 1,780 37 54 3,817 2,519 6,157 7, 585 4,079 2,541 6,542 7,668 4,491 2,664 7,512 8,048 4,436 2,870 7,280 7,420 5,145 3,319 8,373 7,518 6,022 3,069 8,304 7,301 5,066 3,084 8,308 7,195 4,771 3,180 7,565 7,597 4,012 2,416 6,262 7,780 ' 2, 656 ' 2, 116 ' 4, 583 ' 7, 863 *2,908 v 2, 316 v 5, 162 9 7, 925 29.76 40.72 42.36 41.78 35.51 32.00 42.00 42.50 44.00 38.50 r Revised. p Preliminary. 1 Annual data; monthly revisions are not available. 2 Beginning Jan. 1971, data reflect changes in size specifications, and are not comparable with those for earlier periods. 3 Less than 500 tons. 9 Totals include data for types of lumber not shown separately. IFData for orders, production, shipments, and stocks have been revised back to 1962; 34.98 38.00 39.62 41.50 40.14 40.75 36.26 39.00 33.33 37.00 34.29 37.60 31.62 36.50 31.24 35.50 29.90 36.00 31.78 36.00 . . . . . do do do Iron and Steel Scrap Production.. _ Receipts, net |_ _ __ ... Consumption Stocks, end of period . thous. sh. tons . do do do Prices, steel scrap, No. 1 heavy melting: Composite (5 markets) $ per Ig. ton Pittsburgh district do... 85, 188 7,668 corresponding monthly revisions are available for 1968 and 1969 only. t Receipts previously shown for the period Apr. 1967-Sept. 1969 have been corrected to represent net receipts (i.e., less scrap shipped, transferred, or otherwise disposed of during the period); data comparable with the net receipts shown thro ugh Mar. 1967 appear in the Feb. 1970 SURVEY, p. S-31. SUEVEY OF CURRENT BUSINESS S-32 1969 j Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1970 1970 Annual November 1971 Sept. Oct. 1971 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. METALS AND MANUFACTURES—Continued IRON AND STEEL— Continued Ore Iron ore (operations in all U.S. districts): Mine production thous. Ig tons Shipments from mines do Imports .__ , __ do U.S. and foreign ores and ore agglomerates: Receipts at iron and steel plants do Consumption at iron and steel plants do Exports. ._ __ do Stocks, total, end of period At mines At furnace yards __ At U.S. docks Manganese (mn . content) , general imports do do do do 88, 260 90, 581 40, 758 i1 89 836 89,057 44, 876 8 899 10 952 5,222 8,260 9,658 3,818 5 991 6 815 3,448 5,961 3,966 3,158 5,350 2,137 1,954 5,228 2,168 878 5,898 2,646 3,678 6,345 5,439 3,525 9 158 10 495 4,643 9,071 11,047 5,385 9,011 10, 623 5,124 6,737 8,264 3,969 2,920 126 165 128, 550 5,430 125 107 123 261 5,494 14 483 10, 056 667 12 593 10 200 561 9 582 9 607 423 8 020 10 173 271 4 050 10 609 239 4 220 9,946 98 4,880 11, 495 373 8 684 11 054 366 14, 169 11,703 351 16, 042 10, 536 325 14, 780 9,168 356 11 153 5 041 187 11, 695 6,902 203 67 441 13, 790 51,003 2 648 70 488 14, 304 52, 781 3 403 70 286 14 615 52 565 3 106 71 718 13 223 54 958 3 537 71 007 12 416 54 933 3 658 70, 488 14, 304 52. 781 3^403 66, 820 17, 529 46, 182 3 J09 64,198 21, 084 40,477 2 637 59, 898 24, 372 33,860 1,666 57, 762 25, 301 31,490 971 59 124 24 001 33, 957 1,166 62,929 22,067 39,463 1,409 67,306 20, 498 46, 086 1,723 71 854 18,605 51,197 2 052 55, 941 2,376 1 124 990 81 117 98 115 54 49 74 93 93 114 143 119 99 91 435 90 068 2,082 7 414 7,402 1,814 7 527 7 499 1,833 7 233 7 074 1 856 7,557 7,440 2,082 7 804 7,552 1,928 7,378 7,298 1,937 8 518 8,492 1,885 8 421 8 387 1 860 8 783 8 714 1 835 7,930 7,883 1,859 3,701 5,148 6,851 6,751 ' 3, 339 P 4, 502 1,888 ' 1,940 P 1,911 63.78 64 00 64 33 69.33 69 26 70 33 72.65 73 33 74 50 73.70 73 33 74 50 73.70 73 33 74 50 73.70 73 33 74 50 73.70 73 33 74 50 73.70 73 33 74 50 73.70 73 33 74.50 73.70 73 33 74.50 73.70 73 33 74 50 78.70 73.33 74.50 78.70 78.33 79.60 78.70 78.33 79.50 1 091 15, 933 9 185 888 13 946 8 173 911 1,150 685 843 1 087 662 826 929 550 888 1,047 594 964 1,140 643 967 1,129 633 991 1,325 744 1 003 1,292 752 942 1,278 757 914 1,290 111 842 1,004 646 811 973 648 117 1,172 672 78 852 521 91 63 44 72 58 42 90 53 38 78 73 43 78 75 42 71 73 36 73 82 45 67 77 44 65 76 43 68 78 46 75 54 33 84 73 42 10, 726 102 6 10, 699 99 0 10,008 95 7 10, 438 96 6 11,274 104 3 10,874 111 4 12,645 117 0 12,565 120 2 12, 920 119 6 11,491 109.9 9,942 92.0 5,774 53.4 334 137 116 318 146 123 01 a 321 141 116 334 129 106 336 136 111 338 157 128 325 145 120 303 154 126 310 109 88 295 111 91 1 1 1 do Pig Iron and Iron Products Pig iron: Production (excluding production of ferroalloys) thous sh tons Consumption do Stocks, end of period... . . . . do Prices: Composite $ per Ig. ton_. Basic (furnace) do Foundry, No. 2, Northern do Castings, gray iron: Orders, unfilled, for sale, end of period thous sh tons Shipments, total . do For sale _ do Castings, malleable iron: Orders, unfilled, for sale, end of period thous sh tons Shipments, total _ do For sale _. do 1 95 017 94, 635 1, 723 1 1 78.70 78.33 79.50 78.70 Steel, Raw and Semifinished Steel (raw): Production thous. sh. tons.. i 141, 262 1131,514 Index daily average 1967 — 100 111 0 103 4 Steel castings: Orders, unfilled, for sale, end of period 446 321 Shipments, total do 1 897 1 726 For sale, total do 1 580 1 417 124 102 Oil 141 113 7,678 » 8,077 73.4 *74.8 Steel Mill Products Steel products, net shipments: By product: Semifinished products Structural shapes (heavy), steel piling Plates Rails and accessories Bars and tool steel, total . . . Bars: Hot rolled (inch light shapes) Reinforcing _ Cold finished . Pipe and tubing _ Wire and wire products . Tin mill products Sheets and strip (incl. electrical), total Sheets: Hot rolled _ Cold rolled By market (quarterly shipments): Service centers and distributors Construction, incl. maintenance Automotive f)9fi 9 470 9 310 9 163 3 703 4,522 do do do do 6,373 6,244 8 238 1 614 7,387 6,060 8 065 1 590 526 490 632 90 601 505 608 105 501 457 592 123 496 456 654 160 434 569 807 129 403 632 969 136 530 541 835 175 558 530 761 155 452 554 802 156 497 617 860 167 454 631 871 161 144 190 267 65 354 313 395 89 do do do do do do do do do do 14, 354 8,659 3,659 1,923 9,232 3,256 6,555 38,111 12, 471 16, 427 14, 577 8,107 4,891 1,490 7,778 2,998 7,243 35, 101 12,319 14, 250 1,156 625 403 121 638 255 1,151 2,831 973 1,120 1,149 607 424 112 605 250 419 2,625 880 1,060 1,041 541 399 95 515 200 345 2,345 771 963 1,135 644 387 98 582 211 391 2,864 931 1,248 1,173 732 322 113 593 230 583 2,992 946 1,318 1,240 783 334 117 569 207 419 2,987 956 1,296 1,592 1,008 431 147 730 248 551 3,823 1,216 1, 673 1,554 949 441 157 1,013 289 635 3,974 1,224 1,802 1,447 861 441 138 750 289 749 4,141 1,316 1,825 1,472 844 476 146 769 310 865 4,252 1,394 1,430 796 509 118 815 312 1,040 3,448 1, 228 703 310 307 79 492 138 229 1,475 471 810 354 336 82 428 170 328 1,634 562 do do i 17, 565 i 11, 402 2813 436 2 862 2 1 18, 276 4,502 2,794 1, 193 3,830 4,206 2,523 do 117,678 110, 565 1 4, 440 U4,475 i 3, 344 i 5 Qgo i 7, 145 i 25, 687 *3,098 i1 5 169 7, 775 127 598 609 1 212 2,536 6 362 69.3 70.0 9. 4 67.1 67.5 5.5 5.3 7 767 1 03 Q77 Rail transportation! do Machinery industrial equip tools do Containers, packaging, ship, materials... do _ Other... do fi 1 1 Q Steel mill products, inventories, end of period: Receipts during period „ Consumption during period do do 9 R Producing mills: In process (ingots semifinished etc ) do Finished (sheets, plates, bars, pipe, etc.). do 4.8 5.0 9 4.3 4.6 K 12 1 9.7 12 8 10.0 Steel (carbon), finished, composite price. ..$ per lb.. .1046 .1014 .1038 . 0917 r 1 Revised. »Preliminary. Annual data; monthly revisions are not available. 2 For month shown. .1046 11 7 10.2 12 8 10.5 11 9 9.2 & QAQ 7 Knn 7 ceo 9 2,966 4,482 2,511 1 OCK 5,268 4,916 2 1, 794 3,155 M,183 2 1 642 583 6,653 2 1, 333 696 1 097 1,324 6,095 929 1 501 1,739 6,420 950 1,636 2,412 7,256 2312 2475 21,039 2 2, 443 15 9 6.3 5.0 9 c> 7 ij 7.3 6.1 13 0 7.3 6.0 14 6 7.9 6.3 7 0 7 6 76 74 12 3 11.3 11 8 11.0 11.7 10.5 10.9 9.3 5.5 5.5 5.3 5.7 5.6 10 5 7.2 6.4 7 9 ft Q fi Q 12 8 10.5 13 5 10'.5 12 9 11.0 9 A 5.7 9 n r 2 2211 2602 289 2179 2261 21,113 ' 14.6 '3.8 5.1 550 2 257 2 70l 2156 2228 2343 2 1, 435 13 2 4.2 5.6 7.7 79 10.2 7.5 fifiQ r 10.4 '7.8 10.9 8.6 .1129 .1129 .1123 .1100 .1069 .1056 .1046 .1056 .1046 .1046 .1046 NOTE FOR LEAD STOCKS, P. S-33: ^Decrease? rom Dec. 31 stocks reflects correction for one large consumer. Endof-montn stocks as published for Sept. 1968-Dec. 1970 were erroneously increased about 2,500 tons per month. Revised Dec. 31, 1970 stocks comparable with Jan. 31, 1971 stocks, 117,700 tons. _ . NOTE FOR ZINC PRICE, P. S-33: d"Effective Jan. 1971, the price represents a flat quotation, delivered basis, for all domestic sales (the former East St. Louis base price has been discontinued); comparable delivered price for Dec. 1970,15.5 cents per pound. SURVEY OF CURRENT BUSINESS November 1971 1970 1969 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS Annual S-33 1970 Sept. Oct. 1971 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. METALS AND MANUFACTURES—Continued NONFERROUS METALS AND PRODUCTS Aluminum: Production, primary (dom. and foreign ores) thous. sh. tons.. 3,1 793. 1 3, 976. 1 978. 0 835.0 Recovery from scrap (aluminum content).. do Imports (general): Metal and alloys, crude Plates, sheets, etc_ . . Exports, metal and alloys, crude - - d o . - .do do 323.0 68.0 334.6 68.0 327.0 60.0 345.2 70.0 331.9 62.0 304.3 67.0 338.8 78.0 327.1 75.0 341.8 72.0 325.0 74.0 329.5 59.0 333.4 468.6 57.2 344. 4 350.2 78.7 408.5 20.0 5.6 26.9 23.7 5.2 26.9 21.1 5.5 15.9 28.1 5.4 28.0 34.3 6.1 15.8 29.1 5.0 14.3 44.7 6.0 11.0 95.7 6.4 11.3 63.4 7.5 8.0 60.9 7.1 10.3 46.6 6.8 3. 6 38.1 5.7 5.6 43.7 7.4 12.6 .2872 .2900 .2900 .2900 .2900 .2900 .2900 .2900 .2900 .2900 .2900 .2900 .2900 .2900 824.5 637.9 334.7 117.4 808.9 614.6 298.0 114.3 713.4 541.1 260.2 99.7 812.8 584.4 297.2 121.3 768.6 581.0 292.2 121. 3 768.7 574.8 280.1 128.0 943.9 1, 067. 5 741.8 769.6 397.3 416.1 145.4 134.9 1,119.8 839.1 467.1 134.1 746.8 «• 689. 7 580.1 r 564. 1 258.2 ' 278. 1 140.8 97.1 812.5 658.4 344.3 123.4 4,741 Price, primary ingot, 99.5% minimum..-! per lb_. .2718 Aluminum products: Shipments: Ingot and mill prod, (net ship.)§ mil. lb-_ Mill products, total §. ... . . do Plate and sheet § do CastingsA - - do 10,717.5 7, 666. 3 3, 726. 8 1, 698. 1 Inventories, total (ingot, mill prod., and scrap), end of period* mil. Ib 3,785 4,387 4,102 4,144 4,279 4,387 4,469 4,496 4,477 4,443 4,274 4,465 ' 4, 662 Copper: Production: Mine, recoverable copper thous. sh. tons.. 1, 544. 6 1,742.8 Refinery, primary do 1, 468. 9 From domestic ores do 273.9 From foreign ores _ . do 465.6 Secondary, recovered as refined do 1, 705. 8 1, 765. 1 1,521.2 243.9 475.0 139.5 130.5 114.2 16.3 35.9 148.6 149. 3 127.3 22.0 37.3 138.7 143.0 122. 8 20.2 35.1 139.1 170.2 144.8 25.4 39.2 137.8 148.5 129.9 18.6 37.0 129.6 142.3 124.3 18.1 31.0 143.1 170.5 144.8 25.7 33.9 141.3 160.0 141.6 18.4 28.8 145.4 150.0 136.4 13.7 34.7 150.4 166.4 148.4 18.0 31.8 49.2 42.6 38.7 4.0 15.2 415.1 131.1 391. 2 132.1 45.5 18.8 36.0 13.6 37.1 13.4 35.0 9.5 27.2 12.1 32.7 8.6 26.1 9.9 26.4 11.6 21.9 7.4 35.4 9.9 286.2 200.3 348.9 222.0 24.8 13.6 35.2 17.4 32.5 15.6 33.0 18.2 34.6 22.9 27.6 18.7 38.6 26.3 37.0 23.7 32.9 23.9 24.8 17.5 i 2, 042 348. 0 187. 0 177.6 227.0 166.3 164.4 248. 7 168.5 153.3 306.9 171.3 150.8 348.0 187.0 149.4 373.3 200.0 166.3 385.8 211.3 187.6 380.6 216.3 192.0 365.3 234.1 205. 7 334.3 223. 9 202.6 * 107. 4 p 154.5 p 151.9 294.1 p 264. 0 v 229.8 P 224.4 223.8 v 204. 2 p 168.9 p 143.6 *. 583 .601 .590 .561 .531 .5152 .5035 .5055 .5283 .5284 .5284 3,111 2,524 853 2,513 2, 329 751 551 551 166 509.0 603. 9 i 571. 8 590.4 48.6 48.2 46.5 53.5 48.5 49.6 45.3 52.3 45.3 46.4 41.9 48.1 52.7 47.0 47.1 50.8 45.6 48.1 45.7 46.4 '45.2 42.4 48.5 46.1 Imports (general), or? (lead cont.), metal.. .do Consumption, total _ _ do 389.6 357.1 1, 389. 4 U, 360. 6 31.4 111.8 35. 1 113.5 23.5 102. 3 27.5 113.2 34.1 113.6 22.1 109.6 21.7 119.5 21 2 117*. 4 24.3 116. 2 18.5 115. 9 18.7 94.8 13.9 119.5 24.4 Stocks, end of period: Producers', ore, base bullion, and in process (lead content), ABMS _. .thous. sh. tons__ Refiners' (primary), refined and antimonial (lead content)^ .thous. sh. tons_Consumers' (lead content) d" ... do Scrap (lead-base, purchased), all smelters (gross weight) thous. sh. tons. _ Price, common grade (N.Y.)._ $perlb__ 165. 7 179.4 162. 2 179.0 178.2 179.4 179.5 177.6 186.3 190.3 186.1 182.5 169.5 163.1 164.4 125.7 1 156. 4 97.7 188.4 86.2 178.8 90.5 178.8 93.2 183.1 97.7 188.4 98.5 6 113. 1 96.2 116.5 88.8 120.2 84.7 121.8 83.6 121.5 76.6 131.8 87.3 133.8 74.3 126.4 173.6 .1490 67.9 .1562 73.4 .1452 67.2 .1450 68.3 .1450 67.9 .1414 67.6 .1350 65.3 .1350 65.7 .1350 65.8 .1350 65.0 .1350 64.5 .1365 68.3 .1413 67.3 .1412 .1412 Tin: Imports (for consumption) : Ore (tin content) . lg. tons Bars, pigs, etc _ . do Recovery from scrap, total (tin cont.) do As metal __ do Consumption, total ... do Primary do 0 54, 950 i 22, 775 1 3, 022 i 80, 790 i 57, 730 4,667 50, 554 1 20, 105 3,085 i 73,829 i 53,027 591 5,693 1, 730 215 6,240 4,565 487 3,114 1,770 250 5, 860 4,440 0 3,810 1,580 275 5,515 4,110 507 5,523 1,610 275 5,690 4,315 0 3,659 1,690 205 5, 830 4,500 0 1,635 1,595 285 5,660 4,160 0 4,703 1,765 280 6,355 4,715 10 4,478 1,805 256 6,305 4,710 430 4,100 1,680 285 6,175 4,615 0 5,541 1,373 280 6,240 4,625 1,091 2,059 1,305 255 5,605 4,335 12 597 5,207 Exports, incl. reexports (metal) do Stocks, pig (industrial), end of neriod - . do Price, pig, Straits (N.Y.), prompt $ per Ib 3,217 13, 824 1. 6444 4,966 83 11,318 11, 705 1. 7414 1. 7474 1,233 11,965 1. 7365 233 11,690 1. 7225 796 11,318 1. 6385 305 74 8,970 10, 000 1. 6164 1. 6286 570 8,155 1. 6701 138 8. 495 1. 6888 125 9, 510 1. 6602 79 10, 600 1. 6448 376 10, 340 1.6644 Imports (general) : Refined, unrefined, scrap (copper cont.).. do Refined do Exports: Refined and scrap do-Refined ._ do Consumption, refined (by mills, etc.) do Stocks, refined, end of period .' do Fabricators' do Price, electrolytic (wirebars), dom., delivered}: $ per lb_- 1 1 1 Copper-base mill and foundry products, shipments (quarterly total): Brass mill products mil. lb_. Copper wire mill products (copper cont.) ---do Brass and bronze foundry products . __ do Lead: Production: Mine, recoverable lead thous. sh. tons__ Recovered from scrap (lead cont.)_ _ do Zinc: Mine prod., recoverable zinc Imports (general) : Ores (zinc content) Metal (slab, blocks)... - 1 1 9, 941. 9 17,386.2 3, 688. 6 1, 506. 5 2, 142 171.0 125. 0 1 1 .4793 2 551 542 171 647 564 174 '74.0 '63.2 10.9 24.5 122.7 103.1 90.9 12.1 29.8 28.9 12.4 37.0 23.2 41.5 20.2 8.5 4.6 10.1 5.4 16.4 10.4 r 104. 5 .5290 5,206 5,185 398 11, 205 1. 6607 553.1 i 534. 1 43.5 43.2 43.4 43.4 41.6 40.7 43.7 41.4 43.8 43.5 '38.0 40.4 525.8 270.4 42.1 19.4 31.5 32.1 33.0 18.9 45.5 30.9 37.4 17.9 33.3 14.5 37.5 29.1 32.9 22.7 25.8 21.2 40.9 27.1 21.0 30.3 18.1 28.5 Consumption (recoverable zinc content): Ores _ . do Scrap, all types _.. do i 126. 7 i 302. 1 1 124. 8 256. 7 10.7 18.2 8.8 19.0 9.1 18.9 7.6 19.0 8.0 18.7 8.9 18.5 8.6 19.9 10.8 19.2 10.0 18.9 11.0 18.4 10.8 20.3 10.8 21.1 70.9 5.1 93.6 .1 71.6 6.9 96.4 4.8 69.2 5.6 99.3 2.2 74.2 7.4 111.5 1.7 75.8 6.8 116.7 1.1 74.5 6.3 115.6 1.3 65.7 6.6 110.6 2.1 50.1 5.3 95.3 0 51.7 5.6 97.5 (3) Slab zinc: Production (primary smelter), from domestic and foreign ores ... thous. sh. tons.. M,040.6 1 880. 6 68.8 66.7 65.2 Secondary (redistilled) production do 170.6 74.4 7.0 7.8 6.4 Consumption, fabricators. . _ ._ do 1 1, 368. 3 1 1,187.0 100.5 97.8 88.8 Exports _ do 9.3 .3 (3) (3) (3) Stocks, end of period: Producers', at smelter (ZI) O do 167.7 113.6 i1 98. 3 112.8 118.6 Consumers' _ _ do i 100. 5 79.0 81.8 89.6 79.0 Price, Prime Western (East St. Louis). $ per lb.. .1460 .1532 .1500 .1500 .1500 r Revised. * Preliminary.3 1 Annual data; menthly rev isions are not avai lable. 2 4 Average for Feb -Dec. Less than 50 tons. Beginni ig Feb. 19 70, the n ew METJ!^LS WEEK price (based on mine production rates and 1niown se ling price s of U.S . producers only) is not comparable with prices for earlier month s. 5 Se e note 6" , Dottom c)f p. S-32 6 See note 1, p. S-32. § Revised monthly data (K68-69) arc available A Revised data (1966-68) are in the Apr. 1970 SURV EY. *> [ew series Source, U.S. De pt. of Commerce; monthly data back to Jan. 1967 are av ailable. 127.3 88.2 . 1500 .1416 3,760 602.1 324.7 1 .5284 754 649 187 ... do do thous. sh. tons .5289 .2900 400 1. 6729 1. 6770 24.0 41.7 0 128.3 119.8 99.4 84.3 80.7 65.2 51.1 68.5 62.6 56.9 80.4 80.0 89.7 99. 2 90.6 109.3 114.8 100.8 s. 1500 5.1500 5. 1507 s. 1550 5. 1578 s. 1600 5.1619 1 5. 1700 1 5.1700 5. 1700 JPric es show n are av erages of delivere 3 prices; average iifferenti al betwe en the delivered and th i refineryi price is 0.400 cen ts per Ib . througr 1969, 0. 300 cents for perio d Jan. 1970-Apr. 1971, a nd 0.625 cents the re after, c?Consumers ' and secondary smelters' lead stoc ks in re inery si" apes an 1 in copper-base scrap. See not e"1,"p. S-32. OPr oducers' stocks el sewhere, end of C)ct. 1971, 14,800 tc)11S. SURVEY OF CURRENT BUSINESS S-34 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1970 1969 November 1971 1970 Sept. Annual Oct. 1971 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. METALS AND MANUFACTURES—Continued HEATING EQUIPMENT, EXC. ELECTRIC Radiators and convectors, shipments: Cast-iron mil sq ft radiation N on ferrous do Oil burners: Shipments thous Stocks end of period do Ranges, gas, domestic cooking (incl. free -standing, set-in, high-oven ranges, and built-in oven broilers) shipments thous Top burner sections (4-burner ecjuiv ) ship do Stoves domestic heating shipments total do Gas do Warm-air furnaces (forced-air and gravity air-flow), Gas Water heaters gas shipments do do J 7.0 78.5 .4 .4 .4 647.0 77.0 87.3 62.9 i 2,324.5 2 2,2 156. 7 146. 3 198 7 236.1 14.9 217.1 13 8 185.7 13 6 i 1,494.8 i 1 043.2 1, 286. 9 887.4 157.6 112.7 201.4 146 8 127.3 95 9 72.6 44.1 1 1 868 6 1 904.4 i 1 546.6 1, 481. 0 2 784.6 2, 789. 0 203.0 150.0 226.7 215 5 160 7 254.4 186 4 132 5 200.1 161.6 120.1 201.8 109 4 155.6 132.3 319.6 16 3 99.0 113.1 16 4 58 3 ! 1 523. 8 49.3 142.2 MACHINERY AND EQUIPMENT Foundry equipment (new), new orders, net mo avg shipments 1967 — 100 Furnaces (industrial) and ovens, etc., new orders (domestic) net quarterly total mil $ TT • 1 fi r? f r f b t IT "t !"> d Material handling equipment (industrial): Orders (new) index seas adit 1967 — 100 Industrial trucks (electric), shipments: Hand (motorized) number Rider-type do Industrial trucks and tractors (internal combustion engines), shipments number Machine tools: Metal cutting type tools: Orders new (net) total Domestic Shipments total Domestic Order backlog end of period Metal forming type tools: Orders, new (net), total Domestic Shipments, total Domestic Order backlog, end of period mil $ do do do do do do do do do Other machinery and equip., qtrly. shipments: Tractors used in construction: Tracklaying, total mil $ Wheel (contractors' off-highway) do Tractor shovel loaders (integral units only), wheel and tracklaying types mil $ Tractors, wheel (excl. garden and contractors' off -highway types) mil $ Farm machines and equipment (selected types), excl tractors mil $ 88. 5 1 81 1 43.9 129 8 82.4 118.9 102. 7 54 9 15.8 52 2 56.9 12.5 8 5 8 23 1 18 15 0 73 1 53.2 80.2 48.4 19 4 14.1 5 1 3 5 11 6 5 1.8 5 5. 9 124 8 103.3 99 1 110 5 121 2 88.5 93 9 103. 1 95.8 79.6 88 8 97 0 127 5 106.2 14, 579 14, 903 13, 816 14, 811 1,093 1,183 1,318 1,019 1,063 1,194 1,054 1,265 973 972 890 1,044 1,161 1, 470 1,179 1,299 984 1,120 1,080 1,129 969 1,210 934 889 1,112 1,299 50, 446 41, 194 3,685 3,114 2,873 3,112 3,637 3,485 4,890 4,233 3,605 3,612 4,668 3,441 4,209 1, 195. 30 1,032.65 1 192.45 1 077.45 812.4 651. 30 506. 75 992. 90 827. 35 470.7 44.15 35.75 83.35 67.00 577.7 36.70 28,65 70.95 60.40 543.4 29.00 21.00 55 80 45 70 516 6 39.70 26.95 85.60 67.50 470.7 36.75 27.30 57 65 43.50 449 8 39 00 31 70 59 40 47 65 429 4 43.00 36.50 64 85 51 75 407 6 42.30 36.60 71.75 60.15 378.2 46.85 41.30 52 55 44.20 372 5 64.20 50.90 60.75 49.85 376.0 55.15 45.85 45.30 39.55 385.9 60.40 54.50 40.90 33.35 405.4 49.85 44.15 58.80 47.25 396.5 533. 45 484. 35 405. 10 369. 30 382.8 261. 25 226. 60 450. 15 411. 60 234.8 23.85 22.25 31.40 28.90 263.1 38.35 36.25 35.25 33.15 266.2 9.85 8 80 35. 35 30.75 240.7 29.75 19.10 35. 70 32.15 234.8 17. 45 15.90 31.15 29.00 221.1 20 10 16 95 31 50 28 30 209 7 25.25 22 65 30 25 28.30 204 7 13.30 12.60 26.25 24. 75 191.8 24.90 23.00 26 50 22.50 190. 2 20.85 17.85 28.45 26.90 182.6 22.85 20.35 19.45 17. 15 186.0 17.90 14.65 21.65 16.90 182.3 25.95 24.70 21.45 18.35 186.8 1 475. 6 179 1 i 464. 6 1 170 5 121.7 45 7 141.3 839.1 3 29.1 333.5 610 2 1 3 101.7 24.8 150 2 35 0 6 8 581. 1 139.5 130.2 172 7 177.7 * 847 0 178 2 199.7 214 5 238.1 3 53.8 1 151 6 1 178 7 284 6 255 7 35 510 37 863 4 306 4 017 3 928 3 865 3 480 2 §92 2 516 1 943 2 192 2 528 2 848 «• 3 606 4,414 2342 3 2 361 6 225.5 225.9 203 3 174 8 170 0 178 8 224 4 212.0 212.3 234.8 228.8 254.5 233.0 135 3 535. 5 145.1 828.0 142.0 570.9 91.4 692.2 827.5 495. 0 1 881 4 r 59.7 ELECTRICAL EQUIPMENT Household electrical appliances: Ranges, incl. built-ins, shipments (manufacturers') domestic and export thous Refrigerators and home freezers, output 1967—100 Vacuum cleaners, sales billed thous Washers, sales (dom. and export) d* do Dryers (gas and electric), sales (domestic and export) thous Radio sets, production© do Television sets (incl. combination), prod.O.-do Electron tubes and semiconductors (excl. receiving, power and spec purpose tubes) sales mil $ Motors and generators: New orders, index, qtrlyA 1967 — 100 7 133.7 118 4 7 381.7 758.0 722. 5 650.2 541.0 546 0 698 7 141 2 653. 1 147. 5 655.8 4 378 5 4 093.3 387.6 399.6 348.5 289.1 351 3 328 9 370 0 303.4 304.4 398.8 399.3 424.3 3 022 5 2 Q8o 9 335 9 359 3 288 1 243 3 273 1 215 6 250 1 182 4 177 4 259 6 259 2 324 0 370.1 20 549 11, 270 16 406 9,483 1, 585 * 1,054 1,285 965 1 119 945 1,4 458 962 1,449 719 1 1 428 * 1,864 811 4 1, 016 1,498 867 1,487 889 * 1, 690 * 1, 114 983 705 1,149 844 4 1, 843 * 1, 195 770 7 643 1 56 3 47 0 49 7 46 4 41 6 44 4 42 5 41 1 45 7 36 1 40 6 45 9 98 98 106 4 4 90 40 8 86 1,725 912 91 PETROLEUM, COAL, AND PRODUCTS COAL Anthracite: 618 '765 810 Production thous. sh. tons.. 10, 473 19,481 779 618 738 793 790 794 652 777 '880 722 '895 105 76 36 66 Exports . do 92 69 78 75 80 16 17 135 100 627 789 Price, wholesale, chestnut, f.o.b. car at mine $ per sh. ton.. 15. 100 16. 565 16.640 16. 993 18. 169 18. 169 18. 365 18. 365 18. 365 18. 365 17. 581 16. 856 17. 346 17. 346 17. 444 Bituminous: Production thous. sh. tons.. 560, 506 602,932 r 54, 324 ' 55, 859 ' 51, 182 ' 53, 018 ' 50, 430 46, 900 i)6, 755 55, 575 50, 640 '51,615 38, 965 55, 075 53, 225 13, 115 r ^Revised to exclude combination washer-dryers. {Revised series. Data reflect adjustRevised. v Preliminary. 1 Annual data; monthly revisions are not available. 2 ment to 1967 Census of Manufactures; monthly revisions (1957-69) are available. Total for 11 months. s For month shown. < Data cover 5 weeks; other periods, ORadio production comprises table, portable battery, auto, and clock models; television 4 weeks. « Effective 1st qtr. 1971, includes data for ovens; not comparable with earlier data sets cover monochrome and color units. AShifted to 1967 base; 1st quarter 1969-lst quarter which cover furnaces only. « Excludes figures for rubber-tired dozers (included for other periods). 1970:102; 115; 104; 103; 105. jSee corresponding note, p. S-35. SURVEY OF CURRENT BUSINESS November 1971 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1969 1970 Annual S~35 1970 Sept. Oct. 1971 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. PETROLEUM, COAL, AND PRODUCTS—Continued COAL— Continued Bituminous— Continued Industrial consumption and retail deliveries, total 9 _ thous. sh. tons Electric power utilities -.. do_ Mfg. and mining industries, total do Coke plants (oven and beehive) do Retail deliveries to other consumers do Stocks, industrial and retail dealers', end of period, total -__ thous. sh. tons "Electric power utilities do.__ Mfg. and mining industries, total do Oven-coke plants _ do Retail dealers _ . _ do 517, 015 320, 461 186, 183 95, 864 41, 713 26, 424 14, 386 7,917 42, 465 25, 254 16, 057 8,317 43,813 26, 453 16, 245 8, 068 48, 036 29, 481 17. 436 8, 296 49, 199 30, 804 17, 395 8,239 43, 698 27, 127 15, 733 7,393 45, 513 28, 040 16,849 8,380 40, 895 25, 103 U, 522 8,157 39, 755 24, 807 14, 784 8,307 12, 666 10, 073 866 1,117 1,088 1,109 1,000 838 619 245 138 80, 482 60, 597 19,701 8,962 71, 285 59, 685 66, 087 69,681 71, 285 68, 643 67,001 69, 982 77, 527 7,112 8,180 8,674 8,924 8,489 8, 237 8,966 9,804 184 41, 926 ' 40, 634 28, 154 ' 28, 004 13, 642 12,439 7,723 7,007 38, 082 27, 783 10, 079 5,164 162 194 83, 432 87, 423 "85,147 91, 722 10, 642 10, 849 8, 517 10, 369 100 (3) (3) 8,924 (3) 56, 234 70, 908 6.520 7,267 5,633 6,725 4,250 4,302 4,261 5,004 6,140 5,679 4,174 7,107 6,766 6.052 7.487 7,641 9,647 8.858 10.057 9.747 10. 921 9.747 11. 533 9.747 11. 533 9.747 11. 658 9.316 11. 658 9.316 11. 658 9.810 11. 200 9,719 11. 200 9.719 11. 200 9.719 10. 890 9.719 10. 890 9.719 10. 890 thous. sh. tons do do 710 64, 014 20, 574 814 65, 654 21, 074 66 5,425 1,799 61 5,680 1,755 68 5, 537 1,743 68 5,672 1, 845 59 5,647 1,803 60 5,054 1,652 78 5,752 1,853 68 5,621 1,832 77 5,693 1,803 76 5,268 1,821 67 4,816 1,835 55 3, 455 1,950 do_ do do __ _. do. do 3,120 3,020 99 1,040 1,629 4,113 4,018 95 1.059 2,514 3,057 3,019 37 1,094 286 3,433 3,388 46 1,081 288 3,777 3,691 86 1,036 269 4,113 4,018 95 1,059 220 4,241 4,149 92 1,089 171 4,054 3,994 60 1,127 142 3,842 3,803 39 1,170 199 3,599 3,560 39 1,151 125 3,343 3,295 48 1,248 95 3,153 3,097 56 1,192 126 3,401 3,309 92 1,319 171 3,818 3,715 103 1,539 171 2 14, 368 2 13, 020 number 3.18 $ per bbl_ 3.23 mil. bbl__ 3, 879. 6 3, 967. 5 92 % of capacity 91 1,234 3.21 330.3 92 986 3.21 336.6 90 882 3.21 330.6 92 1,454 3.41 346.7 93 846 3.41 344.9 88 896 3.41 312.3 88 1, 227 3.41 345.1 88 880 3.41 336.2 86 969 3.41 332.8 83 998 3.41 344.5 89 925 3.41 355.0 88 886 3.41 352.4 87 Exports -_ . do Prices, wholesale: Screenings, indust. use, f.o.b. mine $ per sh. ton__ Domestic, large sizes, f.o.b. mine do. ._ COKE Production: Beehive . Oven (byproduct) Petroleum coke§__ _ Stocks, end of period: Oven-coke plants, total . At furnace plants At merchant plants, _ _ Petroleum coke. _. Exports.. __- 507, 275 308, 461 185, 835 92, 901 136 PETROLEUM AND PRODUCTS Crude petroleum: Oil wells completed Price at wells (Oklahoma) Runs to stills Refinery operating ratio All oils, supply, demand, and stocks: New supply, totald" Production: Crude petroleum... _ Natural-gas plant liquids Imports: Crude and unfinished oils Refined products mil. bbl__ 5,111.8 5,375. 1 440.0 460.1 450.3 481.0 463. 5 422.1 482.0 452.2 437.4 457.7 461.8 469.1 do do 3,371.8 584. 5 3, 515. 5 612.2 295.5 49.6 310.5 52.0 301.1 51.8 308.1 53.7 301.5 52.7 274.4 48.5 305.0 52.8 295.1 51.3 301.0 52.8 290.1 51.1 295.3 52.6 293.8 52.7 do ._ do 552.9 602.7 522.6 724.8 43.3 51.6 39.5 58.1 40.6 56.9 53.0 66.3 37.8 71.5 40.2 58.9 45.9 78.3 48.5 57.4 49.8 64.1 53.9 62.6 59.2 54.8 63.4 59.1 Change in stocks, all oils (decrease,—) do -17.4 37.7 27.0 15.6 17.9 -37.4 -36.6 -9.4 11.3 40.2 17.6 32.4 29.7 Demand, total Exports: Crude petroleum.. . _ Refined products Domestic demand, total 9 Gasoline . Kerosene __ do 5, 126. 6 5,331.5 413. 3 442.6 432.4 503.9 503.9 456.7 489.6 442.2 426.2 440.2 429.1 439.4 do do do do do 1.4 83.4 5, 041. 8 2, 042. 5 100.4 5.0 89.3 5,237. 3 2, 131. 2 96.0 0 81 405.1 179.8 5.5 2.0 7.7 433.0 184.7 7.5 1.6 6.3 424.5 168.4 8.7 .7 8.4 494.7 182.0 12.3 0 6.1 497.7 164.6 13.4 (0 6.7 449.9 154.6 12.7 0) 7.7 481.8 182.6 8.8 .3 8.0 433.9 187.6 6.3 0) 6,9 419.3 184.5 3.9 0 7.2 433.0 195.1 4.5 0 5.5 423.6 201.0 4.4 0 6.7 432.6 197.0 4.5 do do do 900.3 721.9 361. 7 927.2 804.3 350.9 58.6 50.7 31.1 69.9 58.9 30.0 78.6 61.7 28.7 110.0 80.4 30.5 125.3 85.1 28.8 107.6 73.7 29,8 99.6 87.4 30.6 79.2 64.9 28.8 66.1 64.8 28.9 60.2 63.2 30.8 54.8 54.1 29.6 57.3 58.9 31.5 do do do 48.8 143.3 445.6 49.7 153.5 447.4 4.3 18.8 32.3 4.5 15.9 38.5 4.1 10.6 42.7 4.0 7,8 46.5 3.6 4.8 51.6 3.7 4.9 43.7 4.1 8.1 38.2 4.5 10.4 31.3 4.0 14.0 29.2 4.8 19.9 30.1 4.6 19.4 30.4 4.3 21.9 33.5 do do do do 980.1 265.2 103.5 611.4 1, 017. 9 1,009.8 1,025.4 1,043 3 1, 017. 9 259.2 276.4 265.5 271.3 276.4 106.9 106.0 107.6 109.0 106.0 643.7 635.5 652.3 663.0 635.5 980.4 269.8 101.2 609.4 943.8 266.9 97.2 579.8 934.4 267.2 96.8 570.4 945.7 271.4 105.4 568.8 986.0 1, 003. 5 1,036.0 1, 065. 7 284.3 279.3 272,4 273.2 109.5 107.5 107.0 110.4 594.1 614.7 652.4 686.3 Refined petroleum products: Gasoline (incl. aviation): Production _ do Exports "_IIIIII"""~"do Stocks, end of period do 2, 028. 2 2.4 217.4 2, 105. 3 1.4 214.3 190.2 .1 214.3 185.2 .1 237.0 167.0 .3 250. 5 180.8 .1 250.6 170.4 .2 235.0 174.3 .1 226.2 181.4 .1 214.0 192.7 .1 207.2 Distillate fuel oil _ Residual fuel oil.. _ Jet fuel . _ Lubricants _ __ _ _ Asphalt . Liquefied gases _ Stocks, end of period, total Crude petroleum Unfinished oils, natural gasoline, etc... Refined products 180.8 .1 199.3 177.7 .1 194.5 175.6 .1 204.0 Prices (excl. aviation): Wholesale, ref. (Okla., group 3) $ per gal .116 .118 .119 .118 .120 Retail (regular grade, excl. taxes), 55 cities (1st of following mo.) $ per gal .239 .237 .246 .265 .246 Aviation gasoline: Production mil. bbl 26.5 19.7 1.6 1.8 1.9 Exports do 1.7 .1 .9 .1 C1) Stocks, end of period.. do 6.2 5.1 4.6 5.0 4.7 Kerosene: Production do 102.9 8.2 95.7 6.2 9.2 Stocks, end of period... do 26.8 31.0 27.8 30.3 31.5 Price, wholesale, bulk lots (N.Y. Harbor) $per gal_. .111 .122 .122 .118 .122 r Revised. 1 Less than 50 thousand barrels. 2 Reflects revis ons not a Bailable b y month s. J Series discontinued, ^Includes small amounts of "other hydrocarbo is and Irsrdrogen r efinery i nput," ilot shown separately. 9 Includes data not shown separately. § Incluc ies nonma rketable c atalyst (ioke. -25.5 959 3.41 921 196.6 .1 208.4 .130 .130 .125 .113 .110 .125 .120 .120 .120 .120 .256 .254 .241 .238 .234 .248 .254 .254 .268 .264 1.7 .1 5.1 1.4 .1 4.9 1.7 5.' 2 1.4 .1 4.9 1.5 .1 4.6 1.5 .1 4.5 1.6 .1 4.4 1.5 .1 4.2 1.9 .1 4.1 8.5 27.8 9.5 23.9 8.4 19.7 8.3 19.2 6.7 19.5 6.0 21.6 6.5 23.6 7.2 26.4 6.1 28.0 .119 .123 .121 .123 .127 .127 ] .127 .127 .127 .127 NO1PE FOIi MAT I]RIAL HAND!,ING 11^DEX (p. S-34) : t Revised series. Index (expan ded to cc>ver new orders re ported b y memb ers of Hoist Mfrs. Institute and Rack Mfrs. InstitLite) is bzised on 3omposit e figures represeriting 819ro of that portion of the business covere d by the combin ation of 8 materi al handh ng assoc iations. 1Monthly data for 1968-69 are in the Apr. 1971 SUR VEY. p. S3-35. SURVEY OF CURRENT BUSINESS S-36 1970 1969 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS Annual November 1971 1970 Sept. Oct. 1971 Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. 76.8 3.6 .4 145.8 77.8 3.8 .3 172.4 77.9 4.1 .3 197.0 Sept. Oct. PETROLEUM, COAL, AND PRODUCTS—Continued PETROLEUM AND PRODUCTS— Continued Refined petroleum products— Continued Distillate fuel oil: Production mil bbl Imports -- -do Exports do Stocks end of period do Price, wholesale (N.Y. Harbor, No. 2 fuel) $ per gal Residual fuel oil: Production mil. bbl Imports -- -_ -- do _ Exports do Stocks end of period do Price wholesale (Okla No 6) $ per bbl 897. 1 53.9 .9 195.3 848.4 50.9 1.1 171.7 73.4 2.8 .1 205.7 76.7 4.0 .1 216.4 75.3 5.1 (2) 218.1 80.5 6.7 .1 195.3 80.9 8.1 .3 158.7 72.3 5.5 .2 128.7 78.0 6.1 .4 112.9 76.7 3.4 2 113.7 75.1 3.3 .2 125.8 .101 .108 .112 .112 .112 .109 .113 .113 .111 .117 .117 .117 .117 .117 .117 265.9 461.6 16.9 58.4 1.48 257.5 557.8 19.8 54.0 2.25 19.9 39.1 2.8 54.0 2.60 20.0 42.9 1.2 57.1 2.60 22. 2 41.8 1.0 58.8 2.60 28.9 49.0 2.6 54.0 2.60 31.3 53.8 .5 53.9 2.60 27.1 42.6 1.4 48.9 2.35 26.5 62.6 1.5 49.4 2.35 22.2 45.3 1.7 50.6 2.35 19.0 51.4 1.2 55.4 2.35 20.0 47.3 1.1 58.7 2.35 20.0 39.8 1.0 63.7 2.35 19.2 42.9 1.4 65.9 2.35 2.35 321.7 28.1 301.9 27.6 25.9 30.2 26.0 30.8 24.6 30.1 24.5 27.6 25.9 27.6 23.7 27.0 26.3 27.1 25.1 27.3 25.8 28.5 25.3 28.8 24.4 28.8 24.9 27.7 65.1 16.4 14.1 66.2 16.0 14.7 5.6 1.1 14.0 5.6 1.5 13.6 5.8 1.1 14.2 5.9 1.4 14.7 5.3 1.2 15.2 4.9 1.3 15.2 5.8 1.4 15.5 5.7 1.5 15.2 5.7 1.4 15.4 5.8 1.0 15.4 5.7 1.4 15.1 5.6 1.6 14.8 .270 .270 .270 .270 .270 .270 .270 .270 .270 .270 .270 .270 .270 .270 mil bbl do 135.7 16.8 146.7 15.8 15.6 11.6 15.0 11.1 12.3 13.2 10.1 15.8 8.2 19.7 7.7 22.7 10.1 25.5 12.1 27.7 14.1 28.3 16.3 25.2 17.4 23.8 17.4 20.2 Liquefied gases (incl. ethane and ethylene): Production total mil bbl At gas processing plants (L P G ) do At refineries (L R G ) do Stocks (at plants and refineries) do 502.0 378.5 123.5 59.6 525. 6 399. 6 126.0 67.0 42.1 32.0 10.1 80.6 44.1 31. 0 10.1 79.8 44.2 34.1 10.1 74.6 46.2 35.7 10.5 67.0 45.3 34.9 10.4 54.7 42.4 32.4 10.1 48.0 46.5 35.1 11.4 51.0 45.0 34.0 11.0 60.3 45.9 34.9 11.0 72.9 45.3 33.9 11.4 83.9 46.3 34.8 11.5 95.1 47.1 35.3 11.8 104.0 Asphalt and tar products, shipments: Asphalt roofing total thous souares Roll roofing and cap sheet do Shingles all types do 84, 430 34, 707 49, 723 82, 785 34, 670 48, 115 8,452 3,486 4,966 8,699 3,533 5,166 7,450 3,167 4,283 6,291 2,824 3,467 5,300 2,247 3,052 8,137 3,248 4, 889 6, 426 2,653 3,773 6,314 2,354 3,960 8,102 2,676 5,427 8,790 3,091 5,700 8,296 3,042 5,254 364 346 920 251 334 836 18 37 75 21 34 78 17 30 68 21 24 66 18 21 57 21 23 81 16 25 73 21 35 69 18 34 77 15 32 81 Jet fuel Production Stocks end of period mil. bbl do Lubricants: Production do Exports do Stocks end of period do Price, wholesale, bright stock (midcontinent, f o b Tulsa) $ per gal Asphalt: Production Stocks end of period Asphalt siding Insulated siding. Saturated felts do do thous sh tons r .270 8, 928 'r 3, 348 5,580 9,596 3,769 5,827 11 39 78 15 35 76 13 32 80 PULP, PAPER, AND PAPER PRODUCTS PULPWOOD AND WASTE PAPER Pulp wood: Receipts Consumption Stocks, end of period Waste paper: Consumption Stocks, end of period thous cords (128 cu ft ) do do i1 65 053 65 017 4 788 65 209 64, 571 5,873 5,537 5,147 5, 813 5,645 5,670 5, 912 5 112 5,340 5,716 5 038 4,942 5,873 5,073 5,487 5,589 4,984 5,207 5,406 5 318 5,484 5,249 5 450 5,415 5,258 5,052 5,382 4,891 5,540 5,463 4,982 5,180 5,074 5,195 5,473 5,445 5,134 thous sh tons do i JQ 222 608 10 590 '571 832 571 868 571 801 562 762 571 814 528 780 507 908 509 868 518 867 492 '877 '491 r 755 '516 911 485 thous sh tons do do do 43 416 1 676 29 221 2 308 41 805 l'716 28, 320 2 308 3 304 3 656 128 2,246 177 155 2,475 197 3 496 146 2,367 187 3 201 3 347 139 2,240 172 3 696 3 699 WOODPULP Production: Total, all grades Dissolving and special alpha Sulfate. _ _ _ Sulfite 3,712 2,416 3,679 130 2,427 160 3 450 128 2,282 148 3,805 138 2,483 174 335 257 300 386 292 331 176 3,600 146 2,408 225 172 135 2,436 160 Groundwood Defibrated or exploded Soda, semichem screenings etc Stocks, end of period: ' Total, all mills.. Pulp mills Paper and board mills Nonpaper mills do do do 4 437 1 875 3 898 4,358 1 594 3 508 348 131 275 378 141 310 363 133 300 361 130 284 380 141 300 361 138 296 401 143 321 359 285 308 378 288 315 373 275 314 do do do do 796 230 469 99 861 386 405 69 821 326 427 68 872 401 405 66 885 420 396 68 861 386 405 69 913 462 383 69 930 490 372 67 974 508 388 78 1,045 558 404 83 985 584 328 73 1,076 Exports, all grades, total Dissolving and special alpha All other. " do do do 12 103 1744 i 1 359 13 755 iggg 12 886 247 52 195 954 86 868 244 70 174 318 77 241 187 62 124 180 59 122 236 88 148 194 74 120 172 57 115 Imports, all grades, total Dissolving and special alpha All other. do do do 14,040 i 298 13 743 J 3538 1 273 13 265 256 30 226 277 27 250 289 24 265 297 27 270 263 30 233 248 25 223 341 30 311 310 21 290 287 32 255 54 058 23 5Q5 26 022 ' 148 4 384 52 210 22 T?^ 4 092 1 762 1 959 4 584 2 014 2 169 4 265 1 864 2 054 4 544 2 035 2 142 16 356 16 385 4 253 1 865 2 018 4 686 2 029 2 238 4 576 1 987 2 172 4 513 1 924 2 177 4 135 14 333 3 979 1 790 1,851 4 604 rr 4 218 1 967 1 796 2 214 ' 2 027 15 ' 13 '382 408 109 5 101 1 101 2 108 4 100 9 101 0 112 1 102 3 100 9 112 1 99 5 100 9 112 0 101 3 100.4 112 0 102 5 101 4 112 0 103 0 101 7 112 0 102 6 102 7 112 0 102 8 103 2 143 2,107 159 2,503 168 158 611 386 79 ' 1, 063 1,065 612 '71 609 381 75 199 78 121 117 42 75 162 59 103 240 95 145 338 31 308 270 30 240 296 28 269 275 22 254 '380 PAPEP AND PAPER PRODUCTS Paper and board: Production (Bu. of the Census) : All grades, total unadjusted thous sh tons Paper do Paperboard do Wet-machine board do Construction paper and board do Ne\v orders (American Paper Institute) : All grades, paper and board do Wholesale price indexes: Book paper, A grade 1967 — 100 Paperboard . do Building paper and board do r Revised. 24 943 158 13 325 14 353 14 356 17 403 16 400 15 396 4 641 1 950 2,269 10 411 53 754 104 5 99 4 105 7 112 1 99 5 100 3 112 0 99 3 100 1 109 2 102 8 103.6 i Reported annual total; revisions not allocated to the months, barrels. 109 2 102.8 104.3 2 109.2 102.8 104.5 Less than 50 thousand SURVEY OF CURRENT BUSINESS November 1971 Annual 1971 1970 1970 1969 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 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. Selected types of paper (API):* Groundwood paper, uncoated: Orders new thous.sh. tons Orders unfilled end of period _ . do._ Shipments do Coated paper: Orders new -- do Orders unfilled, end of period . do Shipments do Book paper, uncoated: Orders new do Shipments - do Writing and related papers: Orders new - - -do Shipments do Unbleached kraft packaging and industrial converting papers: Orders new do Orders unfilled end of period do Shipments - do Tissue paper production do 1,171 107 1,123 ' 1, 245 '90 ' 1, 240 ' 103 '90 ' 104 ' 98 '76 ' 110 ' 100 '85 ' 105 ' 109 '90 ' 104 ' 94 '82 ' 100 ' 84 '78 '83 ' 114 '92 ' 107 ' 104 ' 104 '93 ' 102 ' 94 ' 104 ' 114 ' 110 ' 103 ' 109 ' 130 '92 ' 98 ' 120 ' 109 99 117 103 3,230 200 3,313 '183 ' 3, 260 '246 '202 ' 269 '272 '210 ' 272 ' 253 ' 205 ' 262 ' 220 ' 183 r 259 ' 263 '229 ' 259 '244 '229 '253 '296 '239 ' 296 271 '256 ' 265 '253 '229 ' 262 '288 '261 '263 287 302 246 ' 273 '299 ' 278 255 285 267 2,515 2,588 r 2, 396 ' 2, 475 ' 194 ' 199 '211 ' 215 ' 195 ' 202 ' 184 ' 187 ' 219 ' 200 '214 ' 198 '267 r 238 '230 '223 '218 '226 '217 '224 '212 ' 195 '216 ' 221 211 198 2,952 2,898 '"2, 767 ' 2, 772 '225 ' 225 '238 '241 ' 216 ' 224 r 218 r 220 '221 ' 227 '228 ' 224 '259 ' 260 '244 ' 250 '237 '241 '243 '240 ' 214 '255 ' 245 221 230 3,922 189 3,866 3,602 3,700 110 3,739 3,671 314 142 315 278 322 131 318 318 310 126 308 298 290 110 289 281 319 119 305 324 302 118 294 307 357 134 334 341 304 123 303 307 298 120 292 309 327 144 320 321 '287 ' 123 '271 269 335 156 309 310 312 165 305 310 do do__ do 8,758 8,741 220 8,607 8,592 236 649 683 402 760 800 362 766 802 326 712 802 236 695 629 303 662 583 382 711 683 410 670 692 388 665 666 387 638 654 371 643 621 394 678 697 375 692 680 387 786 760 413 do do do 3,232 3,233 27 3,310 3,303 33 243 258 72 292 295 69 283 287 65 267 298 33 294 262 66 266 244 88 289 309 67 270 257 80 285 265 100 277 273 103 252 259 96 279 277 98 254 267 85 289 280 94 Consumption by publish erscf - - -- do. Stocks at and in transit to publishers, end of period thous. sh. tons 7,344 7,130 581 626 645 608 544 528 597 600 627 569 529 558 580 653 699 749 708 717 682 749 745 731 753 741 672 687 672 699 685 682 Imports do Price, rolls, contract, f.o.b. mill, freight allowed or delivered $ per sh ton 6,790 6,635 544 565 554 700 537 440 570 617 570 640 501 547 608 146. 10 150. 50 150. 50 150. 50 150 50 150 50 153 70 153 70 153 70 158. 10 158. 10 158. 10 158. 10 158 10 158 10 479 939 507 349 742 489 467 732 469 490 748 497 492 729 501 349 742 442 454 644 488 515 719 506 518 758 514 523 801 515 527 867 513 509 830 514 497 975 467 531 1,039 522 500 1,000 501 Paper products: Shipping containers, corrugated and solid fiber, shipments mil. sq. ft. surf, area.. 185,760 184,425 16,488 17,153 14,490 11,290 14, 347 14, 211 14, 283 14, 466 18, 668 16, 924 15, 467 15 222 2, 627. 0 1,229.0 2, 490. 0 1,225.0 210.2 103.9 227.0 112. 6 190.1 94.4 206.8 101.8 196.8 99.1 191.0 96.7 208.7 107.0 197.5 100.8 193.9 99.7 206.4 105.8 Newsprint: Canada: Production Shipments from mills Stocks at mills, end of period _ United States: Production Shipments from mills Stocks at mills, end of period Paperboard (American Paper Institute): Orders, new (weekly avg.) thous. sh. tons_. Orders, unfilled §--- do_ _ Production, total (weekly avg. } - ._ -do_ .. Folding paper boxes* . thous. sh. tons mil$ ' 3, 163 r 244 185.9 ' 199. 3 ' 95.0 ' 103. 5 536 1,003 531 15, 538 203 1 106.6 RUBBER AND RUBBER PRODUCTS RUBBER Natural rubber: Consumption thous. Ig. tons « 598. 27 Stocks, end of period.- - _ . _ do .. 106. 49 585. 28 Imports, incl. latex and guayule do 559. 32 102. 60 549. 92 48.29 96.69 46.60 46.68 92.36 46 74 41.46 93.64 46 88 43.19 102.60 48.90 46 21 91.36 45 23 48.28 92.89 44.67 54.43 102. 65 41 15 49. 74 98.59 42.77 49.68 105. 88 49 77 .262 .218 .191 .183 .184 .193 .184 .180 .183 .194 .200 Synthetic rubber: Production,. ... ._ _ ..thous. Ig. tons.. °2,250.19 2.197.00 1.017.85 Consumption _ _ _ _ _ _ _ _ _ . do "2,024.06 0 Stocks, end of period do 441. 03 514. 78 182.93 160.41 481. 79 184.97 163.88 488.29 179.37 144.41 499 30 181.10 149.58 514.78 183. 62 165 24 526 31 166. 47 161.52 517. 13 181. 79 185. 45 497 56 184. 12 171.78 491 19 196. 59 171. 72 601. 78 290. 06 22.06 24.12 24 52 26 21 19.82 23.29 27 28 24 41 25 91 20 78 238. 92 * 231. 77 29.27 200. 56 199. 57 27.58 14.46 16.42 26.28 16.02 17.27 24.52 15 48 14.88 24.90 18.40 16.10 27.58 16.43 15.79 25.87 17 04 16 40 26.53 19 47 19. 19 26.57 17.88 17.19 27. 12 16.64 16.39 26.17 15 30 14 78 16 64 16 33 ' 12 78 16 20 25 71 ' 26 31 25.45 207, 826 190, 403 15, 885 15, 938 14, 560 15, 079 16, 557 17, 429 19, 435 17, 752 17, 775 18 643 15 739 17, 351 204, 835 55, 632 146, 785 2 419 194, 541 46, 135 146, 508 1 898 16, 699 3,643 12, 888 167 15 740 2,995 12, 576 169 12 333 2,527 9,624 18? 13, 160 4,046 8,964 150 14, 181 4,734 9,297 150 14 184 4,897 9, 132 155 18 371 5,445 12 674 252 21 362 4,840 16 329 193 19 012 4,931 13 889 192 21 546 4,993 16 388 164 16 355 2 649 13 552 154 17 478 4,047 13 ?48 183 do. . do 49, 152 2,364 50, 175 1,531 45, 328 116 45, 586 178 48, 111 145 50, 175 97 52, 561 93 56, 093 95 57, 280 283 54, 089 167 53, 121 161 50, 546 139 50 189 103 50, 231 113 122 do do do do . 41, 657 35 687 44, 860 i 41 005 11,191 9,718 1 002 1,098 3,081 3,436 8,905 60 3 463 3 570 9 133 115 2 862 2 647 9, 704 109 2 758 2 988 9,718 46 3 055 3,458 9,447 130 3 097 3 180 9, 626 46 3 375 3 427 9 736 85 2 941 3 270 9 683 124 2 945 3*276 9*576 72 2 801 3 760 8 872 86 9 523 3 ? 317 8 477 73 2 792 3 278 8 242 46 81 Price, wholesale, smoked sheets (N.Y.)._$ per lb-. Exports (Bu. of Census) _ Reclaimed rubber: Production _ _ _ Consumption Stocks, end of period 226. 49 do do do do . a 1 52.18 ' 43. 45 50.86 104. 93 ' 121.96 126. 13 74.53 47 62 69 57 .178 .166 .181 54.25 .179 .176 182. 09 187. 49 186. 97 181 97 ' 149.86 173 98 487 79 ' 505 30 483 70 24 41 29 41 35 01 TIRES AND TUBES Pneumatic casings, automotive: Production. __ .. t _ Shipments, total _ Original equipment. _ . Replacement equipment Exports. . thous __ Stocks, end of period Exports (Bu. of Census) . Inner tubes, automotive: Production Shipments Stocks, end of period Exports (Bu. of Census) . _._ „ T do do _ do do Revised. » Preliminary. t Annua] total includes revisions not distributed to the months. JData have been regrouped by the American Paper Institute; details and available earlier data appear in their April 1970 Monthly Statistical Summary. c? As reported by publishers accounting for about 75 percent of total newsprint consumption. §Monthly data are averages for the 4-week period ending on Saturday nearest the end of the month; annual data are as of Dec. 31. *New series. Monthly data are available back to 1955. ° Revisions for Jan.- May 1969 will be shown later. SURVEY OF CURRENT BUSINESS S-38 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1969 1970 Annual November 1971 1971 1970 Sept. Oct. Nov. Dec. Feb. Jan. Mar. May Apr. June July Aug. Sept. 45 136 42 617 118.4 118.4 Oct. STONE, CLAY, AND GLASS PRODUCTS PORTLAND CEMENT Shipments finished cement thous bbl C C 1409 826 1389 762 38 158 39 134 29 859 26 440 17 285 7 289 7 6 4% 0 241 5 ' 184* 6 1, 783. 5 1 622 2 612 3 10 5 156 7 622 0 13 0 150' 8 530 8 11 2 127 9 493 4 13 6 115 8 361 2 11 7 93 1 395 0 10 5 94 7 16 6 16 6 16 7 12 2 11 1 14 1 14.9 13 2 14.0 12.9 90 5 19 1 23 7 23 2 21 5 25.5 23 2 i 116 0 117 0 117.4 117 4 111.74 117.4 19 407 c28 308 « 36, 185 37 771 '44 149 «42 212 C CLAY CONSTRUCTION PRODUCTS Shipments: Brick, unglazed (common and face) mil standard brick Structural tile, except facing thous sh tons Sewer pipe and fittings vitrified do Facing tile (hollow), glazed and unglazed mil brick equivalent Floor and wall tile and accessories, glazed and unglazed mil so ft Price index, brick (common), f.o.b. plant or N.Y. dock 1967-100 209 0 173 0 16 9 284 8 250 4 21 4 21 6 19 1 18 1 107 8 112 2 113 5 113 9 114 2 114 6 m 590 9 15*9 131 4 687.6 17.7 159.0 757.8 13.8 175.6 691 1 15 8 159 9 676.9 12.8 173.4 GLASS AND GLASS PRODUCTS thous $ 416, 870 382, 969 101, 919 101 897 99, 183 do do 150 123 266, 747 131, 551 251, 418 34, 079 67, 840 37 340 64*557 32 946 66 237 thous. gross _ 260, 267 267, 411 21,863 Flat glass, mfrs.' shipments Sheet (window) glass, shipments Plate and other flat glass, shipments Glass containers: Production _ 24, 635 24, 138 21,412 19,104 19,914 24, 477 20, 691 15, 903 19, 956 23, 030 r r 21, 770 22, 882 23, 445 21, 376 2, 706 1,893 2,047 1,894 '3 295 5,096 4,693 7,030 5,074 5 793 4,882 1,598 5,869 4, 951 1,501 7 348 5,483 1,721 6,878 5,336 1,350 6 976 5,937 2,130 5,218 4,005 1,725 2,329 308 25 2,302 308 19 2,348 321 20 1,822 337 30 2,907 429 29 2,298 269 31 38 263 38,642 39,999 38, 866 38, 220 34, 117 33, 928 2,080 1,674 2,095 5,600 6,053 4,525 5,557 do do do 56 232 51, 086 20, 677 69 254 52, 626 20, 638 5,944 4,498 1,951 5,912 4,348 2,081 4,980 3,404 1,721 7,306 3,974 1,923 do do do .. 35,916 4,496 583 34, 252 3,896 379 3,140 319 43 3,236 396 32 2,465 303 32 do -. 30, 260 30, 084 32,504 32, 775 34,896 5,858 9 881 6,128 9 462 1,776 2 489 1,751 2,277 1,273 2 210 1,617 2 622 do 9 324 8 654 2 301 2, 134 2 194 2 509 do. do 4,681 316 4,219 265 1,267 51 950 67 746 63 1,264 473 702 408 588 104 155 90 141 94 119 102 140 917 9,090 275 749 8,764 228 197 2,308 64 175 2,269 58 117 2,359 60 2,741 .. _ _ 21, 841 28, 733 4,443 2,863 Stocks, end of period 24, 975 22, 289 1,950 24, 806 58, 632 16, 838 22 197 1,680 1,762 2 262 3,589 3,822 4,792 3,571 3,333 1,459 3,987 3,414 1,481 5 562 4 803 1 872 3,207 373 42 2,030 215 26 2,104 2 539 30, 084 34, 669 37, 601 240 28 r r 4,345 24,358 _ 21,754 24, 384 264, 483 Medicinal and toilet Chemical, household and industrial Dairy products _.. .__ . 40, 941 73, 883 21, 286 251,050 Shipments, domestic, total do General-use food: 24 232 Narrow-neck food do Wide-mouth food (incl. packers' tumblers, jelly glasses, and fruit jars) thous. gross__ 57, 828 Beverage Beer bottles Liquor and wine_ 114,824 109,682 35, 589 74, 093 21, 230 295 '21 r GYPSUM AND PRODUCTS (QTRLY) Crude gypsum, total: Imports Production . thous. sh. tons do Calcined, production, total Gypsum products sold or used, total: Uncalcined uses Industrial uses Building uses: Plasters: Base-coat _ _ . All other (inci. Keene's cement) do do _ Lath Wallboard All other. mil. sq. ft do do 69 116 72 TEXTILE PRODUCTS WOVEN FABRICS Woven fabrics (gray goods), weaving mills:} Production, total 9 mil. linear yd Cotton do Manmade fiber ... do Stocks, total, end of period 9 cf Cotton Manmade fiber _ Orders, unfilled, total, end of period 9 If Cotton Manmade fiber . 12, 907 7,159 5,546 11, 545 6 395 4,991 2 1, 088 22 615 463 915 516 390 902 520 374 2 989 2 sgl 2 399 910 531 369 910 532 368 21 119 2 646 2 462 870 490 370 885 499 376 2 1 073 2 598 2 465 657 353 297 847 474 366 do do do 1,404 659 730 1,471 592 867 1,453 585 853 1,437 584 839 1 434 579 842 1 471 592 867 1 443 591 837 1 443 611 818 1 356 547 795 1 346 571 760 1 288 539 736 1 301 549 740 1 233 507 714 1 206 517 676 do do do 2,779 1 535 1,165 2,434 1 525 866 2,395 1 441 916 2,425 1 481 901 2 502 1 543 919 2 434 1 525 866 o 431 1 552 &44 2 486 1 567 881 2 642 1 640 964 2 711 1 638 1 036 2 768 1 686 1 046 2 703 1 617 1 055 2 701 1 596 1 078 2 596 1 507 1 066 9,937 10, 112 1,135 4,163 8 830 9, 786 * 10, 037 127 365 9,990 8 294 10, 166 7 878 COTTON Cotton (excluding linters): Production: GinningsA thous. running bales Crop estimate, 480-pound bales, net weight thous. bales Consumption do Stocks in the United States, total, end of period thous bales Domestic cotton , total do On farms and in transit _._ do Public storage and compresses do Consuming establishments do Foreign cotton, total _. do 2 760 632 641 12,265 11 900 14 811 13 949 19 732 12, 248 11, 886 14, 795 13,931 12, 719 1,323 1 482 9 900 7,545 2 845 5 474 9 653 9 257 3 854 8 874 1,041 1,272 912 1,000 1,147 17 14 16 18 13 r 2 Revised. 1 Reported annual total; revisions not allocated to the months. Data 3 cover 5 weeks; other months, 4 weeks. Ginnings to Dec. 13. < Ginnings to Jan. 16. » Crop for the year 1970. e Nov. 1 est. 1971 crop. 9 Includes data not shown separately. ^Effective Aug. 1969 SURVEY, data (1964-Apr. 1969) reflect adjustments to new benchmarks; see Bureau of Census reports: Woven Fabrics (1964-68), Series M22A-Supplement and (Jan.-Apr. 1969), M22A (69) 1-4 Supplement. ' Corrected. 3 2 722 11 900 11,886 1 482 9 257 1,147 14 644 10 724 10, 708 1 285 8 126 1,297 16 s 10 112 s 10,166 2 665 815 9 411 9,394 1 008 6 890 1,496 17 8 049 8,031 778 5 577 1,677 18 637 6 955 6,940 569 4 606 1,764 1fi 646 5 992 5,975 541 3 672 1, 762 17 2 797 515 4 896 4,880 451 2 700 1.730 16 9 4 25 4, 236 400 2 206 1,'630 15 880 637 2 777 14 276 14,261 11 052 1 707 1,502 15 13 138 13, 121 10, 403 1 456 1,262 17 4,605 H0,719 exclude bedsheeting, nisned fabrics; production ide bedsheeting, toweling, of month indicated, except as noted. SURVEY OF CURRENT BUSINESS November 1971 Tnless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1969 1970 Annual S-39 1970 Sept. Oct. 1971 Nov. Dec. Jan. Feb. Mar. Apr. May June July 307 2 214 1 162 3 Aug. Sept. Oct. TEXTILE PRODUCTS—Continued 1 COTTON— Continued Cotton (excluding linters)— Continued Exports - - thous. bales.. Imports do 2,397 46 2,982 37 89 6 181 3 251 1 362 (6) 441 3 455 6 562 8 467 3 327 3 310 5 Price (farm), American upland cents per lb_._ Price, middling 1", avg. 12 markets do 120.9 122.2 921.5 !23.6 21.9 23.0 22.8 23.0 22.1 22.8 21.0 22.6 21.0 22.8 21.5 23.2 21.0 23.6 22.2 23.8 22.7 24.5 23.2 25.1 23.9 25.3 8 27.0 8 26. 8 8 COTTON MANUFACTURES Ipindle activity (cotton system spindles) : Active spindles, last working day, total mil-Consuming 100 percent cotton do Spindle hours operated, all fibers, total-bil Average per working day do Consuming 100 percent cotton - do 19.6 12.4 125.6 .476 80.9 18.6 11.6 113.0 .435 70.4 18.8 11.8 210.6 .423 26.6 18.8 11.7 8.7 .436 5.4 18.6 11.8 8.8 .438 5.5 18.6 11.6 2 9.8 .393 2 6.2 18.6 11.6 8.9 .446 5.6 18.6 11.6 9.1 .453 5.7 18.6 11.6 .450 27.0 18.6 11.5 8.9 .445 5.5 18.5 11.5 9.1 .456 5.6 18.5 11.5 211.3 211.3 .450 26.9 18.6 11.5 7.2 .365 4.5 18.4 11.4 8.9 .443 5.5 18.4 11.4 210.8 .432 26.6 1.027 1.008 1.001 1.003 1.005 1.011 1.014 1.023 1.036 1.054 1.059 1.066 1.068 1.078 1.082 Cotton yarn, price, 36/2, combed, knit $ per lb__ "otton cloth: Cotton broadwoven goods over 12" in width: Production (qtrly.) mil. lin. y d ~ Orders, unfilled, end of period, as compared with avg. weekly production No. weeks' prod,. Inventories, end of period, as compared with avg weekly production No weeks' prod-Ratio of stocks to unfilled orders (at cotton mills) end of period, seasonally adjusted— Exports, raw cotton equiv Imports raw cotton equiv thous. bales.. do Mill margins: Carded yarn cloth average cents per lb-_ Prices, wholesale: Print cloth 38/^-inch 64 x 54 cents per yard Sheeting, class B, 40-inch, 48 x 44-48 do MANMADE FIBERS AND MANUFACTURES 'iber production, qtrly. total . mil. Ib Filament yarn (rayon and acetate) - __do _ Staple, incl. tow (rayon) _ ___do Noncellulosic, except textile glass: Yarn and monofilaments do Staple, incl. towf do Textile glass fiber. _ _ do Ixports: Yarns and monofilaments Staple, tow, and tops tnports: Yarns and monofilaments Staple, tow, and tops r ' 6, 968 ' 6, 246 '1,468 1, 562 1,607 827.0 27.3 1,593 15.0 15.4 13.4 13.4 13.9 15.4 13.5 13.9 14.9 15.7 15.7 15.8 20.8 14.4 13.4 6.0 5.5 5.0 4.9 4.8 5.5 5.0 5.1 5.0 5.3 4.9 5.0 6.3 4.7 4.5 .42 .37 .37 .37 .37 .37 .37 .36 .34 .34 .31 .31 .31 .32 .34 330.5 573.3 274.3 543.3 18.6 37.9 23.0 35.4 22.7 52.8 19.7 38.1 20.3 39.7 20.5 39.7 25.9 37.6 25.4 48.3 26.3 41.9 23.5 51.3 24.4 48.2 28.1 52.2 36.3 76.2 43.27 43.57 43.29 43.53 43.96 43.98 43.94 43.71 43.48 43.45 43.68 44.61 44.68 45.56 45.24 15.0 19.8 15.0 19.8 15.0 19.8 15.0 19.8 15.0 19.8 15.0 19.8 15.0 19.8 15.0 20.3 15.5 15.6 16.4 16.4 21 8 5, 391. 7 730.8 607.4 1,298.4 176.8 134.4 1, 366. 3 192.8 160.1 1,411.3 191.8 141.3 1 493 1 200 2 147 3 1, 766. 9 1, 793. 4 1, 761. 0 1,792.8 501.4 467.3 442.5 431.7 113.0 459.1 452.0 102.3 477.8 498.0 102 4 616 3 517 3 112 0 5, 562. 5 774.4 758.8 thous. lb__ 100, 539 s 127, 484 do 148, 843 152, 871 10. 690 9,659 10, 367 11, 430 8,521 9,054 13, 134 13, 752 12,611 13, 836 12, 230 15, 190 14, 640 16, 041 13, 220 18,688 13,482 15,202 11, 245 16, 589 11,387 15, 728 10,518 18, 236 10, 896 25, 155 5 41, 063 s 159, 404 137, 054 140, 075 13, 198 11. 658 14, 760 8,187 14, 314 8,888 15,064 10, 131 20,040 10, 056 17, 016 13, 149 24, 256 17, 648 25, 540 20, 423 25,837 15,192 24, 711 17, 773 19, 639 15, 202 19, 449 16, 216 23, 982 20, 601 78.4 75.6 75.0 76.0 77.9 72.1 75.0 76.0 74.1 58.5 70 8 43 8 259.8 240.5 70.6 288.3 242.6 103.8 282.5 236.0 96.6 288 3 242 6 103 8 272.9 251 2 94 4 253 8 235 2 75 4 .61 .89 1.42 .61 3.93 1.39 .61 4.93 1.40 .62 .62 .62 1.25 1.25 1.24 do do tocks, producers', end of period: Filament yarn (rayon and acetate). mil. Ib Staple, incl. tow (rayon) do _. Noncellulosic fiber, except textile glass: Yarn and monofilaments do Staple, incl. towf do Textile glass fiber. do rices, manmade fibers, f.o.b. producing plant: Staple: Polyester, 1.5 denierj $perlb_. Yarn: Rayon (viscose), 150 denier do Acrylic (spun), knitting, 2/20, 3-6D..do .61 4.93 1.33 .61 4.93 1.33 lanmade fiber and silk broadwoven fabrics: Production (qtrly.), total 9 mil. lin. yd-. r 5, 394. 5 r 5, 028. 2 '1,207.3 Filament yarn (100%) fabrics? do.... 1, 690. 7 1,461.4 340.1 Chiefly rayon and/or acetate fabrics do 776.4 148.6 639.7 Chiefly nylon fabrics. _ _ do 7 345. 0 62.9 271.4 Spun yarn (100%) fab., exc. blanketing 9 _ do 2, 951. 8 ' 2, 871. 6 701.4 Rayon and/or acetate fabrics and blends do— . 629.7 102.5 444.8 Polyester blends with cotton do 1, 893. 1 1, 962. 8 482.6 Filament and spun yarn fabrics (combinations and mixtures) mil. lin. yd... 517.0 111.6 472.6 .61 4.93 1.33 .61 4.93 1.33 .61 1.33 .61 1.28 .62 .62 1.28 1.26 .62 1.25 '1,188.7 332.8 134.6 63.7 691.2 1,225.4 339 3 135.5 70.9 722. 1 1,233.4 357 2 129.4 81 1 711 5 114.0 467.5 111.6 508.9 98 1 516 2 107.4 106 5 108 5 WOOL /ool consumption, mill (clean basis): Apparel class.. Carpet class 7 ool imports, clean yield Duty-free (carpet class) mil. Ib do do do 219.0 93.8 189.2 95.7 163.7 76.6 153.1 73.3 213.3 28.4 11.2 7.6 10.7 6.1 8.4 5.4 10.8 5.4 6.9 4.0 212.0 26.3 10.9 6.4 10.2 5.2 12.0 5.9 9.5 5.6 9.4 5.0 213.0 26.7 11.2 6.2 9.4 5.3 11.1 6.9 9.7 5.3 11.5 6.3 212.1 27.2 10.4 7.0 7.3 4.8 13.8 11.3 '8.0 '6.6 17.0 13.4 210.2 27.6 13.3 8.4 ool prices, raw, clean basis, Boston: Good French combing and staple: Graded territory, fine.. Graded fleece, H blood Australian, 64s, warp and half-warp^ $ per Ib do do 1.221 .862 1.024 .872 .941 .953 .880 .854 .925 .875 .760 .925 .875 .820 .850 .837 .802 .825 .810 .804 .825 .775 .790 .757 .685 .790 .708 .658 .790 .630 .640 .800 .597 .640 .828 .590 .640 .802 .595 .640 .795 .610 .640 .795 101.6 101.4 98.0 97.6 96.3 95.4 95.0 93.3 93.3 92.0 WOOL MANUFACTURES nitting yarn, worsted, 2/20s-50s/56s, American system, wholesale priceO 1967=100.. 100.0 102.2 101.9 101.4 101.9 ool broadwoven goods, exc. felts: Production (qtrly.) mil. lin. yd.. 222.5 35.4 178.6 Price (wholesale), suiting, flannel, men's and boys', f.o.b. millO 1967=100.. 100.9 101.3 101.3 101.3 101.3 r 3 Revised. 1 Season average. 2 Fo," 5 weeks other m onths, 4 weeks. Aver age r 4 months, Sept.-Dec. 4 Effective Sept. 1970, average not comparable with earlier prices, uevised total; revisions not distributed by months. « Less than 500 bales. ' Omits jantities of chiefly nylon combination fabrics. s Beginning Aug. 1971, prices are on HMD. net-weight bale basis (for earlier months, on 500-lb. gross-weight bale basis); to 30 9 37 0 827.6 827.7 44.76 .610 .621 .780 33.1 101.3 101.3 100.1 101.3 101.3 101.3 101.3 compiite comp arable pi ices for (earlier m onths, irtultiply 'arm price by 1.04167 and market price by 1.0438. « Season average to Apr. 1. t Revised back to 1965. 9 Includes data not shown separately. ^Revisions for 1967 are in the Dec. 1970 SURVEY. ^Beginning Jan. 1970, quotation refers to Australian, wool 64's, Type 62; comparable prices prior to 1970 are not available. ©Data prior to 1970 available on new base. SURVEY OF CURRENT BUSINESS S-40 1969 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1970 Annual November 1971 1971 1970 Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jjne July Aug. Sept. Oct. TEXTILE PRODUCTS— Continued APPAREL Hosierv, shipments t thous. doz. pairs Men's apparel, cuttings: { Tailored garments: Suits thous units Coats (separate) , dress and sport . do Trousers (separate) , dress and sport do Shirts (woven), dress and sport thous. doz Women's, misses', juniors' apparel, cuttings: t Coats thous. units Dresses . do Blouses and shirts . thous. doz Skirts do 248, 602 231,795 20,779 20,442 17,533 15,004 16,042 15, 402 17, 595 16, 720 16, 975 20, 684 18, 643 18, 750 21,091 14, 353 169, 542 21, 125 16,058 10, 910 177, 209 20, 438 1,217 839 15, 669 1,710 1, 310 937 15, 768 1,994 1,164 862 13, 974 1,636 1,080 755 13, 196 1,431 1,169 804 14, 345 1,490 1,089 740 14, 644 1,557 1,317 890 17,683 1,692 1,317 959 16, 188 1,776 1,264 996 15, 186 1,628 1,067 974 15,209 1,785 672 656 13, 463 1,274 1,165 988 15, 063 1,608 21, 664 266,856 14, 425 8,443 17, 153 236, 258 13, 582 6,398 1,542 18, 411 1,073 483 1,664 19,154 1,072 457 1,592 16,777 910 332 1,139 18,251 857 323 1,195 19, 029 1,011 376 1,274 20, 334 1,113 430 1,218 23, 085 1,311 466 1,140 24,128 1,205 389 1,145 19,534 1,056 404 1,518 20,739 1,045 539 1,475 17, 737 951 464 1,595 19, 274 1,024 499 TRANSPORTATION EQUIPMENT AEROSPACE VEHICLES 358 038 937 020 049 5,579 3 750 4 986 6 272 4,263 5,171 3,466 4,629 5,424 3,479 4,143 2 671 3,631 6,164 4,023 705 882 264 449 25 539 13 627 13 766 2 758 24 705 12 882 13 264 2*449 24, 489 12, 972 12 926 2,447 22,464 11,587 11 415 2,184 4 338 4 522 4 412 4 522 4,335 3 974 2 881 2 791 2 754 2 791 2 575 2 662 3, 593. 4 60 117 1,239.2 3 605 0 59 436 1 527 2 215.6 3 850 51 9 329 2 5 756 101.2 278.2 4 709 109 0 254 8 4 004 112 1 165.0 2,950 101.7 274.7 4 462 209.3 389.8 6 333 313 4 243.9 4 414 207.6 418 6 6 968 253 6 10,146. 9 9 587 7 8, 223. 7 7, 806. 5 1, 923. 2 1,781.2 8, 239. 3 7 753 0 6 546 8 6 187 3 1 692 4 1 565 7 632.0 582 2 493 6 454 2 138 4 128 0 501.4 465 6 392 5 365 4 108.9 100 1 454.7 424 3 364 1 341.1 90.6 83 2 736.4 698 2 598 8 570 6 137.6 127 6 860.6 817.9 710.7 678.1 149.9 139.8 921.9 1, 057. 4 992.4 872.2 865.2 757.8 719.0 815.9 164.2 192.2 153.2 176.5 921.6 863 0 750.4 703.6 171.2 159.4 930.8 1, 008. 2 945 9 867 9 809 8 767 3 761.3 716 7 163.4 198.4 151 2 184 6 9,583 8 464 1,118 8,400 7 119 1 280 580 489 92 8.9 78 11 755 630 125 7.4 6.0 14 540 436 105 6.4 5.0 14 536 425 110 6.8 52 16 694 586 108 9.9 8.4 15 748 637 112 10.0 8.6 15 897 756 141 10.0 8.5 1.6 884 737 148 10.0 8.3 1.7 890 748 142 9.8 8.2 16 955 798 158 9.7 8. 1 17 1,467 1 542 1,220 1 294 1,261 1 496 1,053 1 280 1,018 1 167 1,220 1 294 1,381 1, 296 1,528 1,401 1,683 1,530 1,707 1,557 1,753 1 579 2.3 2.6 2.8 3.0 1.9 2.0 2.2 2.2 285 04 245 62 92 28 31 72 28 46 6 20 21 10 15 98 6 06 17 80 14 61 5 78 19 29 16 66 7 10 21.75 18.81 8 6.44 31.30 26 42 7.39 41 52 37 14 10 76 1 846 72 2 013 42 691 15 692 78 146 01 115 82 167 62 48 58 10 05 168 60 56 75 16.82 173 31 55 66 9 69 167 97 47 68 7 51 198. 87 47.20 10.51 204. 51 70 17 11.63 105, 709 71 274 8,780 5 817 8,037 5 240 7,777 5 238 7,310 4 818 6,610 4,187 26 138 1 398 1 574 1 378 1 078 985 Orders, new (net), qtrly. total mil $ U.S. Government do Prime contract do Sales (net), receipts, or billings, qtrly. total do U.S. Government do 22 005 14 521 19 289 24, 648 16, 560 21 15 19 24 16 161 116 010 752 407 Backlog of orders, end of period 9 do U.S. Government do Aircraft (complete) and parts do Engines (aircraft) and parts do Missiles, space vehicle systems, engines, propulsion units, and parts mil $ Other related operations (conversions, modifications), products, services mil $ 28 297 14, 298 15 610 3 578 24 12 13 2 Aircraft (complete): Shipments © Airframe weight © Exports, commercial... . do thous Ib mil. $ 6 5 5 6 4 ' 119. 1 2, 125 108.4 195.2 2,843 122.8 639.9 602.1 484.8 457.6 155.1 144.5 951.1 892.3 757.8 712.0 193.3 180.2 817 668 149 9.8 8.1 17 725 566 159 10.1 8.3 1.9 884 756 129 12.2 10.8 1.5 1,051 934 116 11.3 10.0 1.4 1,799 1,609 1,582 1,580 1,569 1,681 1,591 1,691 1,482 1, 66C 2.3 2.4 2.3 2.4 1.9 2.0 35. 12 31 58 9.42 48 62 46 07 9 34 40.75 38 47 9.34 21.27 19.48 6.96 19.97 18.74 6.67 37.95 32.86 9.98 233. 92 81 09 12. 77 222. 70 69 01 10.38 230. 00 77 64 10.38 242. 53 84.73 12.07 183. 42 37.34 8.83 205. 45 49.64 7.83 227.04 67.53 13.32 7,271 4 256 7,852 4 748 8,347 4 897 7,467 4 415 8,672 5,244 8,505 5,260 1 110 1 523 1 192 1 240 1, 122 1,723 154.9 2,299 72.8 306.9 4 431 105 0 r MOTOR VEHICLES Factory sales (from plants in U.S.), total Domestic Passenger cars, total Domestic... ... Trucks and buses, total ___ Domestic . thous.. do do do .do do Retail sales, new passenger cars : * Total, not seasonally adjusted thous.. DomosticsA do ImportsA do Total, seasonally adjusted at annual rates.. .mil.. Domestics A .. do ImportsA do Retail inventories, new cars (domestics), end of period: *A Not seasonally adjusted thous . . Seasonally adjusted . do Inventory-sales ratio, new cars (domestics)* A ratio.. Exports (Bureau of the Census): Passenger cars (new), assembled To Canada Trucks and buses (new), assembled Imports (Bureau of the Census): Passenger cars (new) , complete units From Canada, total Trucks and buses, complete units thous do do do do do 333 45 292 11 103 23 Truck trailers (complete), shipments number.. 138, 347 Vans do 94 808 Trailer bodies and chassis (detachable), sold separately . number 33 332 Registrations (new vehicles): O Passenger cars Import cars . Trucks thous. . 9, 446. 5 s 8,388.2 5 612. 1 do 1 061 6 5 i 231 0 5 102 8 do 1, 888. 8 i «1, 790. 2 5 153. 3 4 4 4 719. 0 112 6 154. 2 4 537. 2 s 606. 7 » 588. 3 s 618. 3 99. 8 5 115. 4 598.5 592.6 118. 1 i 123. 8 5 108. 4 5 115. 2 4 4 s 820. 3 s 833. 5 5 130. 0 3 125. 1 s 158. 2 3 168. 4 4 4 4 838. 7 126. 7 171. 5 4 4 4 897. 0 138. 6 178. 1 'r 608. 6 577. 2 'r 490. 5 468. 9 r 118. 1 r 108. 3 4 4 4 806. 0 130. 4 177. 6 2 986. : 2 788. ' 2198. ' 8, 469 9, 650 •• 5, 367 6,360 2,576 4 4 4 780. 6 140. 2 166. 7 1,838 4 4 4 791. 0 128. 6 153. 9 RAILROAD EQUIPMENT Freight cars (all railroads and private car lines): 1 69 Q2g i 65 958 Shipmentscf number Equipment manufacturers do i1 54, 112 i 52, 184 Neworderscf... do 84 245 i 50 148 Equipment manufacturers do i 65, 301 i 42, 385 Unfilled orders, end of period rf1do 46 751 27, 558 Equipment manufacturers do 35, 508 22, 326 Freight cars (revenue), class 1 railroads (AAR):§ Number owned, end of period thous.. 1,438 1,423 Held for repairs, % of total owned 5.6 5.7 Capacity (carrying), aggregate, end of period 95.64 mil. tons.. 94.37 Average per car _ tons 65.62 67.19 6 147 4,922 2,073 1,726 21,672 17, 621 4 675 3,787 3,053 2,516 20, 049 16, 349 4 569 3,573 8,164 8,026 23, 644 20, 802 4 905 4,096 9, 031 5, 832 27, 558 22, 326 3 725 3,183 3,152 2,932 26, 903 21, 993 4 629 4,059 3, 042 2,792 25, 015 20, 425 5 026 4,262 5,304 3,885 25, 193 19, 948 5 497 4,431 4,107 3,782 23, 563 19, 059 5 252 4,381 6,670 6,570 24, 944 21,227 5 401 4,205 8, 521 6,321 27, 977 23, 256 3,305 2,696 3,807 3,652 28, 547 24, 280 3,329 2,852 1,211 1,211 26,429 22, 639 4 701 4,144 1,534 1,534 23, 113 19, 880 1,431 6.0 1, 427 5.9 1,424 5.7 1,423 5.7 1,423 5.7 1,431 5.7 1,430 5.6 1,431 5.6 1,431 5.5 1,431 5.5 1,430 5.4 1,428 5.7 1,427 5.7 95.78 66.96 95.62 67.01 95.27 66.89 95.64 67.19 95.73 67.29 96.08 68.45 96.38 67.37 96.70 67.55 96.82 67.66 96.95 67.76 96.96 67.82 96.92 67.91 97.00 67.98 r 2 Revised. i Annual total includes revisions not4 distributed by months. Estimate 5 of production. 3 Omits data for three States. Omits data for two States. Omits data for one State. 6 Effective Jan. 1971, includes off-highway trucks and trailers; comparable 1970 total, 93.87 thous. t Revisions available: Hosiery, 1969-Apr. 1970; women's apparel, 1968-69. ^Monthly estimates (1967-70), revised to annual benchmarks, appear in Census report, Men's Apparel, M23B Supplement (5/27/71). irers Association and other industry sources; seasonal * New series. Automobile Manufacturer ' adjustments by OBE. For earlier data, see p. 43, Dec. 1970 SURVEY. ADomesties include U.S.-type cars produced in the United States and Canada; impo cover foreign-type cars and captive imports, and exclude domestics produced in Canada. c^Amer. Railway Car Inst. and Assn. of Amer. Railroads, data cover new cars for domes users; backlog not adjusted for cancellations. 9 Total includes backlog for nonrelated products and services and basic research. ©Data include military-type planes shipped to foreign governments. O Courtesy of R. L. Polk & Co.; republication prohibited. § Excludes railroad-owned private refrigerator cars and private line cars. INDEX TO CURRENT BUSINESS STATISTICS, Pages S1-S40 SECTIONS General: Business indicators Commodity prices Construction and real estate Domestic trade. 1-7 7-9 9,10 11,12 Labor force, employment, and earnings Finance Foreign trade of the United States Transportation and communications 13-16 16-21 21-23 23,24 Industry: Chemicals and allied products Electric power and gas Food and kindred products; tobacco Leather and products. 24,25 25,26 26-30 Lumber and products Metals and manufactures Petroleum, coal, and products Pulp, paper, and paper products. 31 31-34 34-36 36,37 Rubber and rubber products Stone, day, and glass products Textile products Transportation equipment 37 38 38-40 40 30 INDIVIDUAL SERIES Advertising Aerospace vehicles Agricultural loans Air carrier operations Aircraft and parts Alcohol, denatured and ethyl Alcoholic beverages 11,16 40 16 23 4,6,7,40 25 11,26 Apparel??;.' .*.'.'.'.'.'.'.' .*.'.'.'.'.'.' .*.' .* *.' 'i,'3,*4,'8,'9,"ii-15,40 Asphalt and tar products 35,36 Automobiles, etc 1,3-45,8,9,11,12,19,22,23,40 Balance of international payments 2,3 Banking 16,17 Barley 27 Battery shipments 34 Beef and veal 28 Beverages 4,8,11,22,23.26 Blast furnaces, steel works, etc 5-7 Bonds, outstanding, issued, prices, sales, yields 18-20 Brass and bronze 33 Brick 38 Broker's balances 20 Building and construction materials 6,7, 9,10,31,36,38 Building costs. 10 Building permits., 10 Business incorporations (new), failures 7 Business sales and inventories 5 Butter 26 Cattle and calves 28 Cement and concrete products 9,10,38 Cereal and bakery products 8 Chain-store sales, firms with 11 or more stores... 12 Cheese 26 Chemicals 4-6,8,13-15,19,22-25 Cigarettes and cigars 30 day products 9,38 Coal 4,8,22,34,35 Cocoa 23,29 Coffee 23,29 Coke...,. 35 Communication 2,20,24 Confectionery, sales 29 Construction: Contracts 10 Costs 10 Employment, unemployment, hours, earnings.. 13-15 Fixed investment, structures 1 Highways and roads 9,10 Housing starts 10 Materials output indexes 10 New construction put in place 9 Consumer credit.. T 17,18 Consumer expenditures. 1 Consumer goods output, index 3,4 Consumer price index 8 Copper 33 Corn.? 27 Cost of living (see Consumer price index) 8 Cotton, raw and manufactures. 7,9,22,38,39 Cottonseed cake and meal and oil 30 Credit, short- and intermediate-term 17,18 Crops 3,7,27,30,38 Crude oil and natural gas 4,35 Currency hi circulation 19 Dairy products Debits, bank Debt, U.S. Government. Department stores Deposits, bank Disputes, industrial Distilled spirits Dividend payments, rates, and yields Drug stores, sales 3,7,8,26,27 16 18 11,12 16,17,19 16 26 2,3,19-21 11,12 Earnings, weekly and hourly 15 Eating and drinking place* 11,12 Eggs and poultry 3,7,8,28,29 Electric power 4,8,25,26 Electrical machinery and equipment 4-7, 9,13-15,19,22,23,34 Employment estimates 13-15 Employment Service activities 16 Expenditures, U.S. Government 18 Explosives « 25 Exports (see also individual commodities).... 1,2,21-23 Express operations 23 Failures, industrial and commercial 7 Farm income, marketings, and prices 2,3,7,8 Farm wages 15 Fats and oils 8,22,23,29,30 Federal Government finance 18 Federal Reserve banks, condition of 16 Federal Reserve member banks 17 Fertilisers. 8,25 Fire losses 10 Fish oils and fish 29 Flooring, hardwood 31 Flour, wheat 28 Food products 1,4-8,11-15,19,22,23,26-30 Foreclosures, real estate 10 Foreign trade (see also individual commod.) 21-23 Foundry equipment 34 Freight cars (equipment) 4,40 Fruits and vegetables 7,8 Fuel oil 35,36 Fuels 4,8,22,23,34-36 Furnaces 34 Furniture 4,8,11-15 Gas, output, prices, sales, revenues Gasoline Glass and products Glycerin Gold Grains and products Grocery stores Gross national product Gross private domestic investment Gypsum and products 4,8,26 1,35 38 25 19 7,8,22,27,28 11,12 1 1 9,38 Hardware stores 11 9, 34 Heating equipment Hides and nd skins .............................. 9, 30 Highways and roads .......................... 9, 10 Hogs ........................................ 28 Home electronic equipment .................... 8 Home Loan banks, outstanding advances ........ 10 Home mortgages ............................. 10 Hosiery ..................................... 40 Hotels ...................................... 24 Hours of work per week ....................... 14 Honsefumishings ....................... 1,4,8,11, 12 Household appliances, radios, and television sets. 4, 8,11,34 Housing starts and permits .............. . ..... 10 Imports (see also individual commodities) . . . 1, 2, 22, 23 Income, personal .............. ............... 2, 3 Income and employment tax receipts ............ 18 Industrial production indexes: By industry ............. . .................. 3,4 By market grouping ......... . .............. 3, 4 Installment credit ......................... 12,17, 18 Instruments and related products .......... 4-6, 13-15 Insurance, life ................................ 18, 19 Interest and money rates .......... ............ 17 Inventories, manufacturers* and trade ....... 5, 6, 11, 12 Inventory-sales ratios ......................... 5 Iron and steel .............. 4-7,9,10,19,22,23,31,32 16 Labor advertising index, strikes, turnover 13 Labor force . 28 Lamb and mutton 28 Lard 33 Lead Leather and products .................. 4,9,13-15,30 Life insurance ........................ ........ 18, 19 Linseed oil. . .................................. 30 Livestock.... ............................. 3,7,8,28 Loans, real estate, agricultural, bank, brokers* (see also Consumer credit) .......... 10,16,17, 18,20 Lubricants ................................... 35, 36 Lumber and products ............... 4,9,10-15,19,31 Machine tools. . .............................. 34 Machinery ................. 4-7,9, 13-15, 19,22,23,34 Mail order houses, sales ....................... 11 Man-hours, aggregate, and indexes ..... . ....... 14 Manmade fibers and manufactures .............. 9, 39 Manufacturers* sales (or shipments), inventories, orders ..................................... 5-7 Manufacturing employment, unemployment, production workers, hours, man-hours, earnings. . . 13-15 Manufacturing production indexes ............. . 3, 4 Margarine ................................... 29 Meat animals and meats ............. 3, 7, 8, 22, 23, 28 Medical and personal care. . . ---- . ............. 8 Metals ....................... 4-7,9,19,22,23,31-33 Milk ........................................ 27 Mining and minerals ................. 2-4,9,13-15,19 Monetary statistics ...................... ---- 19 ; Money supply. . ................ . ............. 19 Mortgage applications, loans, rates ....... 10, 16, 17, 18 Motor carriers ............................... 23,24 Motor vehicles ............ 1,4-*, 8, 9, 11, 19, 22, 23, 40 Motors and generators ........................ 34 National defei B expenditure* 1,18 National income and product, National parks, visits Newsprint ................... . ...... . ........ 23, 37 New York Stock Exchange, selected data ........ 20, 21 Nonferrousmetab . ............... 4,9,19,22,23,33 Noninstallment credit ......................... 18 Oats ........................................ 27 Oil burners .................................. 34 Oils and fats ......................... 8,22,23,29,30 Orders, new and unfilled, manufactures* ......... 6, 7 Ordnance.. 133-i5 Paint and paint materials Paper and products and pulp. Parity ratio Passports issued Personal consumptio Personal income. Personal outlays Petroleum and products 8,25 9,13-15,19,23,36,37 iditu 1 1 '. '. '. ! *. *. *. ". !*.*.! 24 ] '2 4-6, 8,11-15,19,22,23,35,36 Pig iron 3ll 32 Plant and equipment expenditures 2 Plastics and resin materials 25 Population , 13 Pork 28 Poultry and eggs 3,7,8,28,29 Prices (see also individual commodities) 7-9 Printing and publishing 4,13-15 Private sector employment and earnings 13-15 Profits, corporate 2,19 Public utilities. 2-4,9,19-21,25,26 Pulp and pulpwood 36 Purchasing power of the dollar 9 Radiators and conveetors 34 Radio and television 4,11,34 Railroads 2,15,16,20,21,24,40 Railways (local) and bus lines, 23 Rayon and acetate 39 Real estate 10.17,18 Receipts, U.S. Government 18 Recreation 8 Refrigerators and home freezers 34 Rent (housing) 8 RetaU trade 5,7,11-15,17 Rice 27 Roofing and siding, asphalt 36 Rubber and products (incl. plastics) 4-6, 9,13-15,23.37 Saving, personal. Savings deposits Securities issued Security markets Services Sheep and lambs Shoes and other footwear Silver Soybean cake and meal and oil Spindle activity, cotton Steel (raw) and steel manufactures Steel scrap Stock prices, earnings, sales, etc Stone, day, glass products Stoves and ranges Sugar SoHur Sulfnric acid Superphosphate 2 17 19,20 20,21 1,8,13 28 9,11,12,30 19 30 39 22,23,31,32 31 20,21 4-*, 9,13-15,19,38 34 23,29 25 24 25 29 Tea imports.. 24 iph carriers Telephone and 4,11,34 Television and Vi3^15,19,22,23,38-40 Textiles and products 33 Tin Tires and inner tubes .................. ... 9,11,12,37 Tobacco and manufactures ........ 4-7, 9, 11, 13-15, 30 Tractors ..................................... 34 Trade (retail and wholesale) ................. 5,11,12 Transit lines, local ....................... ...... 23 Transportation ...................... 1,2,8,13,23,24 Transportation equipment ........... 4-7, 13-15, 19,40 Travel ............... ....................... 23,24 Truck trailers ................................ 40 Trucks (industrial and other) .................. 34,40 Unemployment and insurance ................. • 13,16 U.S. Government bonds .................... 16, 17, 20 U.S. Government finance ............... i ...... 18 Utilities ......................... 2-4,9, 19-21,25,26 Vacuum cleaners ............................. 34 Variety stores ................................ JJ.J2 Vegetable oils ................................ 29, 30 Vegetables and fruits ........ . ............ ..... 7,8 Veterans* benefits ............ ................. 16 Wages and salaries. .......................... , , Washers and dryers .......................... 34 Water heaters ................................ „„ 34 Wheat and wheat flour. . ............. ......... 27, 28 Wholesale price indexes ................. ...... *;£ Wholesale trade ....................... 5,7,11,13-15 Wood pulp .................................. 36 ft Wool and wool manufactures ................... 9,39 Zinc. 33 UNITED STATES GOVERNMENT PRINTING OFFICE PUBLIC DOCUMENTS DEPARTMENT WASHINGTON, D.C. 2O4O2 OFFICIAL BUSINESS ITS «p OF THE Ji ROLE DIRECT earned abroa<3 pe i n vested statistics will be ORDER FORM Send to Superintendent of Documents U.S. Government Printing Office Washington, D.C. 20402 Enclosed is $_ .for. . copies of U.S. Direct Investments Abroad, 1966 Part 1: Balance of Payments Data (make check or money order payable to the Superintendent of Documents) For use of Supt. Docs. 03100039 Name Organization Charge this order to my Deposit Account Address No. City, State, ZIP