Full text of Survey of Current Business : November 1972
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
NOVEMBER 1972 / VOLUME 52 NUMBER
•• Hi
SURVEY OF
CURRENT BUSINESS
NOVEMBER 1972 / VOLUME 52 NUMBER
SURVEY OF CURRENT BUSINESS
CONTENTS
. :,
.
.
THE BUSINESS SITUATION
U»S» Department ofCoMmeree
Peter G« Peterson / Secretary
James T* Lynn / Under Secretary
Harold C« Passer / Assistant Secretary
for Economic Affairs
and Administrator Social and
Economic Statistics Administration
.
Recent Financial Developments
2
Wages Under Collective Bargaining
4
Corporate Profits
5
Federal Budget and GNP, Third Quarter
6
National Income and Product Tables
12
GNP by Major Industry in 1971
16
•U.S. Direct Investments Abroad in 1971
21
Sources and Uses of Funds of Nonf arm Nonfinancial
Corporations; Size and Composition of Personal Saving
35
Bureau of Economic Analysis
George Jaszi /Director
Morris R* Goldman / Deputy Director
Lora S» Collins / Editor
Leo V. Barry, Jr. / Statistics Editor
Billy Jo Hurley / Graphics
STAFF CONTHIBUTORS TO THIS ISSUE
William H. Anderson
Lora S. Collins
Julius N. Freidlin
Jack J. Gottsegen
CURRENT BUSINESS STATISTICS
General
S1-S24
Industry
S24-S40
11
Subject Index {Inside Bach Cover)
Donald A. King
Leonard A. Lupo
Barbara L. Miles
Thomas R, Robinson
Charles A. Waite
Annual subscription, including weekly statistical supplement* is $9 for domestic and 112.75 for foreign mailing.
Single copy $1. Order from Superintendent of Documents,
tf.S. Government Printing Office, Washington, B,C*
20402, or any Commerce Department Field Office* Make
checks payable to Superintendent of Documents.
Microfiche edition is available from the National
Technical Information Service, Springfield, Va. 22151.
Annual subscription, excluding Weekly supplement, is |9
for domestic and $12 for foreign mailing. Single copy
$0.95; Make checks payable to NTIS.
Send subscription correspondence to the Superintendent
of Documents or NTIS, Send editorial correspondence
to the Bureau of Economic Analysis, U.S. Department of
Commerce, Washington, D*C. 202BO.
U.S. DEPARTMENT OF COMMEECE FIELD OFFICES
Albuquerque, N. Mex, 87101
U.S. Courthouse Ph. 843-2386.
Anchorage, Alaska
632 Sixth Ave. 272-6531.
Atlanta, Ga. 30309
1401 Peaehtree St. NE. 526*6000.
Baltimore, Mel. 21202
415 U«S* Customhouse 962-3560.
Cheyenne, Wyo. 82001
2120 Capitol Ave.
Ph. 778-2220,
Chicago* III. 60604
1486 New Federal Bidg.
Ph. 353-4400.
Cincinnati, Ohio 45202
550 Main St. Ph. 684-2944
Birmingham, Ala. 35205
908 S. 20th St. Ph. 325-3327.
Cleveland, Ohio 44114
666 Euclid Ave.
Ph. 522-4750,
Boston, Mass. 02116
441 Stoart St. 223-2312.
Dallas, Tex. 75202
1100 Commerce St. 749-3287.
Buffalo. N.Y. 14202
111 W. H aron St. Ph, 842-3208.
Charleston, S.C, 29403
334 Meeting St.
Ph. $77-4171,
Charleston, W. Va. 25301
SOO Qtjrarrier St. Ph. 343-6181,
Denver, Colo. 80202
New Customhouse, 19th & Stoat
Sts,'
Ph* 837-3246.
Deft Moines, Iowa 50309
609 federal Bldg,
Ph. 284-4222.
Detroit, Mich, 48226
445 Federal Bldg. Ph. 226-6088.
Greensboro, N.C. 27402
258 Federal Bidg,
Ph.275-911L
Hartford, Conn. 06103
450 Main St. Ph. 244-3530,
Honolulu, Hawaii 96813
286 Alexander Yowng Bidg.
Ph. 546-8694.
Houston, Tex. 77002
1017 Old Federal Bldf.
Ph. 226-4231.
Jacksonville, Fla. 32202
400 W, Bay St. Ph. 791-2796.
Kansas City, Mo. 64106
601 East 12th St. Ph. 374-3141.
Los Angeles, Calif. 90024
11000 WHshire Blvd. 824-7591,
Memphis, Tenn. 38103
147 Jefferson Ave,
Ph. 534-3214.
Miami, Fla. 33130
25 West Flagler St. Ph. 350-5267.
Milwaukee, Wis. 53203
238 W. Wisconsin Ave.
Pk224rr3473.
Minneapolis,-Minn. 35401 - ' •
306 Federal Bidg. Ph. 725-2133.
Newark, N,J. 07102
24 Commerce St. Ph. 645-6214
New Orleans, La. 70130
610 South St. Ph. 527-6546.
New York, N.Y. 10007
26 Federal Pla*a Ph. 264-0634.
Philadelphia, Pa. 19107
1015 Chestnut St. Ph. 597-2850.
Phoenix, Ariz. 85004
112 H. Central Ph .261-3285.
' Pittsburgh, Pa. ' 15222 ' '
1000 Liberty Are. Ph. 644-28SO,
Portland, Oreg. 97205
921 S.V* Washington St.
Ph. 221*3001.
Reno, Nev, 89502
300 Booth St. Ph. 784-5203.
Richmond, Va. 23240
2105 Federal Bidg. Ph. 782-2246.
St. Louis, Mo. 63103
2511 Federal BMg. 622-4243.
Salt Lake City, Utah 84111
12$ South State St. Ph. 524-5116.
San Francisco, Calif. 94102
45Q Golden Gate Av«.
Ph. 556-5864.
San Juan, Puerto Rieo 00902
100 P.O. Bldg. Ph* 723-4640,
Savannah, Ga. 31402
235 U.S. Coarthouie And P.O.
Bidg. Pb, 232-4321.
Seattle, Wash. 98104
8021 Federal Office Bidg.
Ph. 442-561$.
the BUSINESS SITUATION
I^ONSUMER buying, which has been
a major factor in the ongoing economic
recovery, continued to expand vigorously in October. According to the
advance estimate, retail sales increased
2% percent, with a gain reported for
almost every major line of trade. The
durable goods total was up 4 percent,
partly because of a strong rise for the
auto group; however, even excluding
the auto group the durables advance
was more than 2% percent, and sales
of nondurables outlets were also up
2}i percent. These advances are large
relative to the typical monthly gain,
and suggest the possibility that the
social security benefit increase paid in
October had an impact on retail
demand.
New cars continued to sell at a very
brisk rate in October, and industry
reports indicate that sales of domestic
models would have been even larger
had there been no supply problems.
Some new models were in short supply,
partly as the result of work stoppages
and delays in getting some models
certified as meeting emission control
standards.
On a seasonally adjusted basis, BEA
calculates that domestic models sold at
an annual rate of about 9.6 million units
and foreign models at a rate of 1.6
million. This made October the fourth
consecutive month in which total sales
are estimated to have exceeded 11
million units at an annual rate. The
four latest months are shown in table 1
together with quarterly data back to
the start of 1971. Calendar year sales
records were set in 1971 for both
domestic models (8.68 million) and
imports (1,57 million). Domestic model
sales this year will almost certainly set
another record; sales of imports may
also set a new record, but by only a
small margin.
The continued boom in auto sales is
consistent with the recent reports of
improving consumer sentiment. The
latest quarterly University of Michigan
survey found that, for the first time
since 1969, more consumers anticipate
"good times" in the next five years than
"bad times." Other attitude measures
collected by that survey also improved,
Table 1.—New Car Sales
[Millions of units, seasonally adjusted at annual rates]
Total
1971-1 .
II
III
IV
1972-1
II
..
July
August
September
October
...
Domestic
models1
Imports
models
10.0
9.9
10.7
10.5
8.4
8.2
9.0
9.1
1.6
1.7
1.7
1.4
10.3
10.7
8.8
9.1
1.6
1.5
11.4
11.1
11.8
11.2
9.8
9.4
10.2
9.6
1.6
1.7
1.6
1.6
1. Includes domestic models built in Canada for sale in
the U.S. market.
notably the extent to which consumers
feel disposed to buy durable goods and
their assessment of their personal financial prospects. The Michigan survey's
index of consumer sentiment moved up
for the third consecutive quarter and
reached the highest level since early
1969. The latest Census Bureau quarterly survey of consumer expectations,
taken in October, found increases in
reported plans to buy both houses and
new cars, and continuation of the
improved income expectations first reported in the July survey.
Strong demand for labor
Employment registered another substantial increase in October while the
number unemployed was about unchanged. The unemployment rate remained at 5.5 percent, making October
the fifth consecutive month in which the
rate was about 5% percent. In the
preceding \% years, the rate had held
at or very close to 6 percent.
The total number of unemployed this
October differed hardly at all from the
total number a year earlier—4.8 million
this year and 4.9 million in 1971.
However, the strengthening of labor
markets in the intervening period was
reflected in the fact that the number
of unemployed who had lost their last
job was down more than 200,000 while
the number who had left their last job
was up about 100,000.
The strong employment expansion
that began in- mid-1971 was clearly
persisting this fall. Civilian employment in October was 2.3 million above
the year-earlier level, and 800,000 of
that gain was registered in the 3 months
ending in October. In percentage terms,
the over-the-year expansion was 3 percent, a very substantial gain.
Continued rapid expansion of the
civilian labor force explains why the
unemployment rate has been so stable
in the face of large employment gains.
Labor force expansion slowed in the
spring but has turned very strong again
in recent months. The civilian labor
force increased by 800,000 persons in
the 3 months ending in October, and
2.2 million (2.6 percent) over the year
from October 1971.
The sustained rapid growth of the
civilian labor force in recent months
SURVEY OF CURRENT BUSINESS
occurred despite the fact that reduction
of the armed forces—a process that
works to augment the natural growth of
the civilian labor force—has come to a
halt. The number in the armed forces
has held at just about 2.4 million since
the spring, after having dropped about
400,000 in the year from the spring of
1971. (The recent peak was around 3.5
million during most of 1968 and 1969.)
Over the past year, civilian labor
force expansion has also been boosted
by increases in participation rates.
This has been especially marked for
adult women, and over the year the
unemployment rate of women has not
changed while the rates for men and
teenagers have declined modestly. In
terms of major industry, the sharpest
decline in the unemployment rate over
the year was for workers in manufacturing, the sector where the recovery of
employment over the same period was
also sharpest. The unemployment rate
for workers in manufacturing was down
to 5.0 percent (seasonally adjusted) in
October from 6.2 percent a year
earlier and 7 percent or more in late
1970 and early 1971.
been to boost manufacturing manhours sharply. In October, the number
of production worker man-hours in
manufacturing was 6% percent higher
than a year earlier, a considerably
larger advance than the 4% percent
increase in the number of production
workers.
Personal income up in October
The preliminary estimate of manufacturing wages and salaries for October
shows an increase of $2 billion (seasonally adjusted annual rate), a relatively
large gain that was about equal to the
increases recorded in August and September. The aggregate of other private
payrolls also registered a strong gain in
October, though the expansion of government wages and salaries slowed.
Altogether, wage and salary income is
estimated to have increased $5% billion.
Proprietors7 income barely changed
in October but the other nonwage components of personal income generally
had fairly large increases. The dominant force affecting the month's data
was the 20 percent increase in social
security benefit payments. This raiseol
Manufacturing payrolls
the level of benefit income about $8 bilAccording to the monthly survey of lion at an annual rate. Total personal
nonagricultural establishments, the income increased $15% billion.
recovery of manufacturing employment
did not get clearly underway until the
start of 1972. In the 10 months through
October, the number of workers on
manufacturers' payrolls increased 625,000, following little net change during
most of 1971 and a decline of 1.4 IN midsummer, the monetary authorimillion in the year from March 1970 to ties apparently moved to a less acMarch 1971.
commodative credit policy in an effort
Changes in the workweek are a flex- to moderate the growth of the monetary
ible way to adjust labor input in line aggregates. That move occurred at a
with changes in demand for output, and time of significant strengthening of
the manufacturing workweek began to business loan and other short-term
lengthen before manufacturing employ- credit demands, and recent months
ment began to rise. From a recent low have witnessed a moderate tightening
of conditions in money and credit
of about 39% hours per week (seasonally
markets.
adjusted) in late 1970, the average facThe move toward a somewhat more
tory workweek lengthened to more than stringent credit policy has been reflected
40 hours around the start of 1972 and in a slowing of the growth of bank
continued to lengthen until this sum- reserves, the base for money and credit
mer; since then it has held at 40.6 or expansion.
Nonborrowed
reserves
40.7 hours. The combined effect of a which increased strongly during the
longer workweek and more workers has first half of this year (12 percent at an
November 1972
Wholesale prices in October
The wholesale price index rose only
0.1 percent in October, seasonally adjusted, the smallest increase since
March. In the intervening period, the
index generally increased about 0.5
percent per month. In October, there
was only a very small rise (seasonally
adjusted) in the index for farm products
and foods and feeds. That index was
rising very rapidly during the summer
but there has been an expectation that
agricultural price behavior would moderate this fall.
There was a slight decline in October
in the index for industrial commodities
(seasonally adjusted), following a string
of increases generally amounting to
about 0.4 percent per month. The rapid
rate of advance in the spring and
summer was partly caused by steep
increases for leather and lumber products but also reflected widespread increases for other industrial commodities. Industrial commodity prices
generally rose again in October—with
further sharp advances for leather and
lumber—but the overall industrial index was held down by a decline in new
car prices. That decline resulted from
introduction into the index of prices of
the new 1973 models adjusted for
quality improvements.
Recent Financial Developments
annual rate), showed very little net
growth from July through October
(chart 1). The tightening by the
Federal Reserve is observable in the
increase in borrowing from the Reserve
Banks. Since July, the net reserve
position of member banks (their
aggregate excess reserves less borrowings) has become substantially negative; member banks had net free
reserves during the first half of this
year, but net borrowing of $350 million
in September and $340 million in
October.
Firmer monetary policy has achieved
some slowdown of the growth of the
monetary aggregates. The narrowly
defined money stock, Mj. (currency plus
November 1972
private demand deposits), increased at
an annual rate of 9.3 percent in the
first quarter, 5.3 percent in the second,
and more than 14 percent in the month
of July. The monthly growth rate decelerated steadily from July onward and
was down to a seasonally adjusted
annual rate of 4 percent in October;
from July to October money stock
increased at an annual rate of 5.2
percent. The expansion of the broader
monetary aggregate, M2 (which includes
MI plus time deposits at commercial
banks other than large certificates of
deposit), slowed only a little during the
3 months ending in October as time
deposit growth continued strong. The
increase was at an annual rate of 8.2
percent from July to October, as compared with 8.6 percent in the second
quarter and 13.3 percent in the first.
Bank credit
The expansion of total loans and
investments at commercial banks averaged $6.2 billion per month (seasonally
adjusted) in the 3 months ending in
October compared with an average of
$5.2 billion in the first 7 months of this
year. Within the latest 3-month period,
however, the rate of advance has been
decelerating: credit expansion was $8
billion in August, $6.5 billion in
September, and $5.5 billion in October.
Since July, loans have accounted for
all of the growth of bank credit.
Expansion in all major loan categories
has strengthened, but growth of business and consumer loans has been
particularly vigorous. From July to
October, business loans increased a
total $5.3 billion (seasonally adjusted),
only $1 billion less than in the first 7
months of the year; consumer loans
increased $3 billion from July to
October, as compared with $4.8 billion
in the year's first 7 months.
In order to accommodate the recent
strengthening in loan demand, commercial banks have liquidated $2.4
billion of their holdings of U.S. Government securities and reduced their purchases of State and local and U.S.
Agency issues. Banks made sizable
acquisitions of State and local securities
in the first 7 months of this year, but
net purchases have slowed in the 3
months ending in October.
SURVEY OF CUEEENT BUSINESS
Financing costs
The firming of monetary policy and
the slowing of the growth of the monetary aggregates has been accompanied
by some increase in short-term interest
rates but no major upward shift in the
interest rate structure. From early
August to mid-September, there was a
spurt in money market rates that
carried them between one-fourth and
one-half a percentage point higher. An
increase of nearly a full percentage
point for Treasury bills reflected selling
pressures resulting from Federal Reserve open market operations, net liquidation of bill holdings of foreign central
banks, and an increase in new bill
offerings by the Treasury.
With long-term rates continuing to
show little change, the increase in
short-term rates resulted in some narrowing of the unusually wide differential between long- and short-term
rates, particularly in the Government
securities market, but the differential
in most markets remains substantial
by historical standards.
From mid-September to mid-November money and capital markets were
relatively stable. There was some further increase in short-term rates, but
long-term rates generally edged a bit
lower. Within the short-term structure,
the pattern of rate movements has been
mixed. The Treasury bill yield showed
virtually no change, but the Federal
funds rate (the rate at which commercial banks borrow and lend uncommitted reserves) increased a little more
than one-half a percentage point. The
prime rate—the rate banks charge their
most creditworthy borrowers—was
raised one-fourth of a percentage point
in late August and another one-fourth
of a point to 5% percent in late September. In early November, a major
New York bank that had been using a
formula to link its prime rate to open
market interest rates dropped the
"floating rate77 approach apparently
because officials of the bank felt that
the formula would raise their prime
rate above what seemed desirable at
the time.
In the near term, some intensifying
of pressures in money markets seems
likely. The strengthening of private
loan demand that is accompanying the
vigorous expansion of economic activity
shows no signs of abating, and heavy
Treasury demands associated with the
large budget deficit are emerging. It is
estimated that the net new borrowing
by the Treasury will amount to some
$9K billion between early November
and early January. Short-term interest
rates may move somewhat higher in
the near term, but the differential
between short- and long-term rates
CHART I
Bank Reserves and Bank Credit
Billion $ (Ratio scale)
25
600
500
50 -
40
1968
1969
1970
1971
1972
Seasonally Adjusted
Data: FRB
U.S. Department of Commerce, Bureau of Economic Analysis
72-11-1
November 1972
SURVEY OF CURRENT BUSINESS
remains substantial, and this need not
significantly affect long-term markets.
Moreover, there may be some further
easing of demands in capital markets.
Long-term corporate borrowing associated with acquiring liquid assets seems
to be abating. Also, capital market
demands of State and local governments should ease in the months ahead.
These governments are already running
large consolidated budget surpluses, and
now are benefiting from an enlarged
flow of funds associated with the
recently enacted Federal revenue sharing program.
Savings and loan associations
The rise in short-term rates that began in midsummer did not significantly affect the flow of funds to the
savings and loan associations. Inflows
totaled $8 billion (seasonally adjusted)
in the third quarter (September is the
last month for which data are available),
up somewhat from $7% billion in the
second quarter but less than the $10)4
billion increase in the first. For the first
Q months of this year, the inflow was
about $3% billion above the figure for
the first three quarters of 1971, itself a
record year.
Mortgage debt holdings of the associations increased a record $8% billion (seasonally adjusted) in the third
quarter, up from $8 billion in the
second quarter and nearly $6% billion
in the first. Mortgage commitments
also continued to expand at a fairly
stronge pace, increasing $1% billion to
a record high of $18 billion. The recent
increase in commitments is less than
the $2 billion in both the first and
second quarters, but nevertheless, indicates continued strong mortgage debt
expansion over the next half year.
Wages Under Collective Bargaining
THE average wage rate increase negotiated in major collective bargaining
settlements in the first 9 months of
this year was appreciably smaller than
the average in 1971. "Major" settlements, as tabulated by the Bureau of
Labor Statistics, are those affecting
1,000
or more workers and, while
covering only a relatively small part
of the work force, they are highly
visible and tend to set patterns for
other labor negotiations. Major settlements this year approved by either
the Pay Board or the Construction
Industry Stabilization Committee (CISC)
have covered about 1% million
workers and have included agreements
in the aerospace, railroad, maritime
and construction industries, among
others. At the end of the third quarter,
agreements covering an additional
900,000 workers were awaiting action
by the Pay Board or CISC and are
not included in the data compiled
by BLS for the first three quarters.
BLS calculates that major contracts
in the first three quarters provided
for an average first-year increase in
straight time hourly earnings of 7.2
percent, well below the average of
more than 11 percent in each of the
past 2 years (table 2). There was a
marked slowdown in both manufacturing and nonmanufacturing industries, with the most pronounced
deceleration occurring in construction.
Raises provided by construction settlements had also slowed sharply from
1970 to 1971, in part because of the
CISC, which became active in April
1971
and thus influenced a major
part of last year's negotiations.
The average all-industry increase of
7.2 percent calculated by BLS for the
first three quarters of 1972 is well above
the 5.1 percent average increase approved by the Pay Board for the same
period. However, that Pay Board figure covers about 16% million workers,
far more than those covered by the
"major" settlements, and the Pay
Board figure includes deferred increases
coming into effect in 1972, covers nonunion workers, and is also in other
ways not comparable to the BLS major
settlements figure. For situations comparable to the BLS major settlements
outside construction, Pay Board wage
increase approvals averaged 7.3 percent
for 1.15 million workers—essentially
identical to the BLS figure of 7.2
percent for 1.16 million workers.
In recent years, average first-year
increases under new contracts have
typically been higher than average
annual rates of increase over the full
life of contracts; this reflects "front
loading" in multiyear contracts, i.e.,
the practice of having a disproportion-
Table 2.—Wage Rate Changes Under Collective Bargaining
[Average annual percent change]
1968
AH industries:
Over life of contract
First-year change
1970
1969
1971
9 months
1972
5.9
7 4
7.6
9.2
8.9
11.9
8.1
11.6
6.
7.
5.2
7.0
6.0
7.9
6.0
8.1
7.3
10.9
5.
6.
6.5
7.8
9.3
10.8
11.5
15.2
8.9
12.2
7.
7.
Construction:
Over life of contract
First-year change
8.6
8.7
13.1
13.1
14.9
17.6
10.8
12.6
6.
7.
Other:
Over life of contract
First-year change
n.a.
n. a.
7.4
9.4
10.2
14.2
8.6
12.2
7.
7.
Manufacturing:
Over life of contract
First-year change
Nonmanufacturing :
Over life of contract
First-year change
-
- - ._ .. - - - - - -
. _ .
_.
n.a. Not available.
NOTE.—Limited to private industry settlements affecting 1,000 or more workers. Data exclude possible adjustments in
wages under cost-of-living escalator clauses (except guaranteed increases).
Source: Bureau of Labor Statistics.
SURVEY OF CURRENT BUSINESS
November 1972
ate share of the multiyear increase go
into effect in the first year. Negotiations in the first 9 months of 1972
resulted in an average annual life-ofcontract increase of 6.6 percent. This
is not only sharply lower than the 1971
figure, but also much closer to the
average first-year increase than has
been typical in recent years. Indeed,
for nonmanufacturing situations outside the construction industry, the
first-year and life-of-contract increases
negotiated in 1972 are equal (table 2).
This closing of the gap results both
from less front loading in multiyear
contracts and from a move toward
shorter duration contracts. The move
toward shorter duration, which has
been especially pronounced in construction, reflects union concern over the
possibility of being "locked in" upon
expiration or easing of the controls.
(Unless extended by Congress, authority for the current stabilization program ends April 30, 1973.)
Bargaining in 1973 will be much
heavier than in 1972, with more than
4J£ million workers covered by major
contract negotiations. Situations that
will be especially important because
of the large number of workers covered
and the pattern-setting potential will
come up in the communication, construction, railroad, rubber, electrical
equipment, trucking, and auto industries, among others.
Deferred increases
In addition to the first-year increases
negotiated this year, there are deferred
adjustments coming due which were
negotiated in previous years. In general,
it has been the policy of the Pay Board
to review only the initial wage increases
of new contracts, delaying action on
deferred increases until they are scheduled to become effective. BLS calculates
that about 6% million workers will
receive deferred increases this year,
averaging about 6 percent.
In 1973, deferred increases under
existing contracts are expected to cover
about 4 million workers and average
only about 5 percent. This figure could
change somewhat if increases due this
year that were lowered by the Pay
Board are restored in 1973, appearing
as deferred increases in that year.
Corporate Profits
were up $% billion in the third quarter
following an increase of $1 billion in the
preceding quarter. Nonfinancial corporations' profits increased nearly $3 billion, as compared with $3% billion in the
second. The weakness in nonfinancial
corporations centered in the auto industry; other industries generally recorded appreciable gains.
Nonfinancial corporations
In the first half of 1971, the strong
recovery of economic activity, reflecting
in part the rebound from the auto
strike, was evident in sharp increases in
the output and profits of nonfinancial
corporations. However, after mid-1971
nonfinancial corporations7 profits fell as
a result of both a deceleration in real
output growth and a decline in profit
margins, i.e., profit per unit of output.
CHART 2
Profits and Cash Flow
Billion $
125
PROFITS
100
Before Tax Book Profits
75
ACCOEDING to preliminary estimates by BE A, book profits of corporations before taxes rose $4}{ billion from
the second to the third quarter to a
seasonally adjusted annual rate of
$95% billion (chart 2). This rate is
$26% billion above that in the depressed fourth quarter of 1970, which
was not only the cyclical trough but
also was affected by the GM auto
strike. Profit tax liability was up $2
billion in the third quarter so that aftertax profits rose $2}£ billion.
It should be noted that profits in the
second quarter were affected by losses
of plant and equipment and inventory
suffered in the June floods. BEA has
estimated the amount of such losses to
corporations at about $1% billion
(annual rate) in the second quarter. In
the absence of those losses, but with
other things being equal, the second
quarter increase in book profits would
have been about $1% billion larger then
it was and the third quarter increase
would have been about $1% billion
smaller than it was.
Book profits include gains or losses
due to differences between the replacement cost of goods taken out of inventory and the cost at which these items
are charged to production. Since the
national income measure of profits is
intended to measure only incomes arising from current production, profits on
the national income basis exclude these
gains or losses. Inventory profits increased a little more than $% billion
from the second quarter to the third,
and profits on the national income basis
increased $3% billion.
The profits of financial institutions
Before Tax Profit
50
After TaxBookProfits;
I » ...i i -J r i ;i
25
100
CASHFLOW*
75
50
1968
1969
1970
1971
Seasonally Adjusted at Annual Rates
'Capital consumption allowances plus undistributed profits.
U.S. Department of Commerce, Bureau of Economic Analysis
1972
SURVEY OF CURRENT BUSINESS
6
The decline in margins reflected an
acceleration of unit cost/both labor and
nonlabor, and a pronounced slowdown
in unit price as a consequence of the
wage-price-rent freeze introduced in
midsummer. This year has seen a
vigorous profit expansion as a result
both of higher margins and of accelerated real output growth.
Table 3 shows the behavior of nonfinancial corporations' output, price,
Table 4.—Nonfinancial Corporations' Sources and Uses of Funds
[Billions of dollars; quarterly data seasonally adjusted at annual rates]
1968
Sources total ~
Internal1.
_ _ _ ... .
External
... _ .
Credit market2 funds
__ _ _ _
Long-term 3
_. _____
Short-term
Other
Uses, total. _ _
Purchase of physical assets 4
Increase in financial assets
Table 3.—-Nonfmancial Corporations' Output, Price, and Costs
[Percent change, compound annual rate, seasonally adjusted]
1970IV to
1971II
1971II to
1971IV
1971IV to
1972II
1972II to
1972III
November
_ _
1969
1970
1972
1971
1971
I
II
III
IV
I
II
III*
109 8
117 6
102 5
126 7
118 2
122 2
135 2
130 4
137 2
139 7
142 3
61 7
48 1
30 8
17 9
12 9
17 4
60 8
56 9
40 3
21.2
19 1
16 7
59 1
43 4
39 9
32 4
7 5
35
67 1
59 6
48 5
44.0
4 5
11 0
62 1
56 1
45 6
41 8
3 g
10 6
66 6
55 6
48 5
46 9
16
7 i
67
68
57
45
12
10
72
57
42
42
0
15
4
9
8
2
6
2
72 5
64 7
51 5
36 0
15 5
13 1
77 7
62 0
57 6
44. 9
12 7
4 5
79
63
50
40
9
13
99.5
105.2
95.5
106.9
105.9
110.8
108.5
101.7
128.1
125.8
129.9
76 2
23.3
84.0
21.1
84.6
10.9
85.2
21.7
82 4
23.6
87 6
23.2
83 2
25.3
87 7
14.0
94 g
33.3
100.1
25.6
102. 8
27.1
-13.9
-12.4
Discrepancy (uses less sources) _ -10.3 -12.5
-6.9
2
0
4
2
2
5
-19.8 -12.3 -11.4 -26.7
-28.6
-9.1
0
3
0
8
2
2
*Preliminary; partly estimated by BE A.
1. Undistributed profits (after IVA) and capital consumption allowances.
2. Stocks, bonds, mortgages.
3. Bank loans, commercial paper, finance company loans, bankers' acceptances, Government loans.
4. Plant and equipment, residential structures, inventory investment.
Source: Federal Reserve Board.
In 1970 and 1971, corporations were
improving their liquidity positions,
.9
2.1
3.8
1.0
Unit price
which had been strained in the preceding
12.6
15.0
41.8 -11.0
Unit profit 1
tight-money period. Their net borrowing
.5
2.3
.4
Unit cost
_
therefore, was mainly long term. Net
1.2
1.2
Unit labor cost
long-term borrowing rose a record
5.6
—1.3
1.4
Unit nonlabor cost 2
$44 billion for the year 1971 while the increase in short-term liabilities amounted
1. This is profit per unit of constant dollar output, and is
Sources and uses of corporate funds to only $4% billion (table 4). An interthus not the same as profit per dollar of sales.
2. Unit nonlabor cost is the sum of capital consumption
The strong growth of profits this year esting development last year is the fact
allowances, net interest, and indirect business taxes plus
business transfers less subsidies received, divided by conhas
boosted retained earnings; this, that recorded sources of nonfinancial
stant dollar gross corporate product.
along with the growth of capital con- corporate funds increased far more from
and costs in the period since the re- sumption allowances, has led to a the first half to the second half than did
covery in overall economic activity strong expansion of internal cash flow recorded uses of funds. Some of this
began. The output figure is constant (table 4). External borrowing has also increasing discrepancy may have been
dollar gross product originating in non- been heavy. While the rate of invest- associated with unrecorded outflows of
financial corporations; price, costs, and ment in physical assets has been running corporate funds into foreign currencies.
This year, the rate of long-term borprofits are shown per unit of real output. well ahead of the 1971 pace, corporowing
has remained high and there
In the first half of 1971 unit price rations have been able to increase as
has
been
an increased use of short-term
grew much more rapidly than unit cost well the rate of investent in financial
debt.
For
the first three quarters, the
and unit profit soared. The slow growth
assets. Investment in financial assets net increase in long-term liabilities was
of unit cost was primarily due to the
virtual stability of unit labor cost, as was at a seasonally adjusted annual rate about $41 billion (seasonally adjusted
output per man-hour grew at about the of nearly $28% billion in the first three annual rate) while short-term debt insame rate as compensation per man- quarters of this year, up nearly $7 til- creased some $12% billion. Most of the
hour. After mid-1971, unit profit de- lion from last year and some $5% billion increase in short-term debt was in the
form of bank loans.
clined as the advance of unit price above the previous peak in 1968.
slowed appreciably while unit cost
accelerated. The acceleration of unit
cost centered in nonlabor costs and
reflected in part higher depreciation
costs associated with the ADR system,
and in part, higher effective rates of
indirect business taxation. The rise in
unit nonlabor costs was due also to the THE Federal Government's deficit as than the $21% billion recorded in the
slowdown in output growth which measured in the national income ac- second quarter. The deficit will increase
meant that higher fixed costs were counts was about $11% billion (sea- substantially in the current quarter,
spread over a fewer number of units. sonally adjusted annual rate) in the reflecting the first, retroactive payment
The rise in unit profit this year re- third quarter. This was much smaller to States and localities under the
Output (constant dollar
gross product)
8.6
4.9
11.2
6.5
fleets moderate growth in the price
per unit of output and little change in
unit cost. Unit labor cost has increased
very little and unit nonlabor cost has
actually declined, as expanding volume has spread fixed costs over more
output.
Federal Fiscal Position and GNP, Third Quarter
SURVEY OF CURRENT BUSINESS
November 1972
revenue sharing legislation ($10% billion
at annual rates) and a 20 percent
increase in social security benefits
($8% billion).
Federal receipts increased more than
$5 billion in the third quarter to $230
billion. Personal taxes increased $1.8
billion with nearly all of the advance
occurring in withheld income taxes;
nonwithheld payments declined. Overwithhloding continued at about the
previous quarter's pace. Corporate tax
accruals rose $1.7 billion, reflecting a
$4.2 billion increase in book profits.
Social insurance contributions increased
$1.2 billion; indirect business taxes
advanced $0.5 billion.
Federal expenditures declined $4.9
billion to $241.6 billion. The decline
centered in grants-in-aid and defense
purchases. Grants fell $3.7 billion
because of a large drop in public assistance grants which had been temporarily
swelled in the second quarter by a $4
billion advance payment. Defense spending decreased $3.5 billion, nearly all
of it in non-payroll costs. Partly
offsetting these declines were increases
in transfer payments ($1.6 billion) and
nondefense purchases ($0.6 billion).
Social security changes
Various new social security amendments were signed into law in late
October. This was the second round of
social security legislation this year; the
Table 5.—Impact of New Social Security
and Welfare Legislation
[Billions of dollars]
Category and effective date
First fullyear costs
Social security benefits (Jan. 1973).
Widows
Higher earnings exemption
Other
2.5
1.1
Medicare benefits (July 1973).
Disability under 65
.
Other
1.8
1.6
.2
Welfare takeover (Jan. 1974).
2.0
Savings
.__
...
Medicaid (Jan. 1973)
Food Stamps (Jan. 1974).
-1.1
-.7
-.4
Total net benefits-
5.2
Source: Social Security Administration and
Management and Budget.
Office of
earlier amendments, which were ap- fiscal years 1973-76, under the present
proved in July, included the 20 percent law and under the old law. This table
benefit increase paid in October. Those updates a table published in the August
earlier amendments were discussed in SURVEY.
the August SURVEY. The new law
increases social security taxes and pro- GNP revised
vides liberalized benefits for widows,
On the basis of more complete source
permits retirees to earn more income data, BEA has slightly raised the estiwithout reduction of benefits, extends mate of third quarter GNP. An upmedicare coverage to persons under 65 ward revision of the inventory investwho are disabled, and provides for a ment component, putting it at an
Federal takeover of welfare for the aged, annual rate of $8 billion, was the only
blind, and disabled.
change of substance. Estimated August
Net benefits in the first full year and September retail sales have been
under the new legislation are estimated revised up since the preliminary GNP
to be $5.2 billion, calculated as $6.3 figure was prepared, and this resulted
billion of new benefits less $1.1 billion in some increase of consumption spendin expected savings in Federal medicaid ing, but more complete data on Comand food stamp programs. Table 5 modity Credit Corporation operations
shows a more detailed breakdown of the resulted in some reduction of Federal
nondefense purchases.
Table 6.—Budget Position of the Social
Security System
[Billions of dollars]
Alternative measures of output
Now that a preliminary estimate of
corporate profits has been made, it is
possible to calculate a third quarter
estimate of national output measured
-3.4
-2.8
1973
2.3
from the "income side" of the national
-.2
1974 _
5.1
.3
accounts. The familiar GNP estimate
5.5
1975
1.5
.8
is done from the "product side." The
5.9
1976
-.5
.3
two figures are alternative measures of
Source: Social Security Administration.
the market value of national output—
first full-year benefits under the new as the sum of costs incurred and profits
law, and the effective dates of the earned in producing the output ("income side") or as the sum of final sales
various items.
and inventory change ("product side").
The new legislation provides for an
Over the first three quarters of this
increase in the combined employeryear,
the conventional GNP measure
employee social security tax rate to 11.7
increased
about 10% percent at a seapercent, effective January 1973. This
sonally
adjusted
annual rate while the
compares with an actual 10.4 percent
estimate
calculated
from the "income
rate in effect during 1972 and an 11
side"
increased
about
9% percent. There
percent rate that had been scheduled to
is no clear basis for deciding that one
take effect in January 1973. The overall
alternative is statistically more acrate increase, together with an increase curate than the other. Interest generally
in the taxable wage base from $9,000 focuses on the "product side" measure,
to $10,800 enacted earlier, will add i.e., the familiar GNP, mainly because
$10.3 billion (annual rate) to social its components are more useful for
insurance contributions in January.
many types of economic analysis. BeThe future budget position of the cause the two measures are based on
social security system is also affected. source data that are largely independent
Table 6 shows the estimated budget and also imperfect, the two may differ
position of the social security system, in both level and rate of change.
Fiscal year
Old law
Present law
July
amendments
SURVEY OF CURRENT BUSINESS
8
November 1972
CHART 3
Revised figures show third quarter GNP up $24% billion and real GNP up 61/4 percent (annual rate]
In October: The jobless rate held at 5.5 percent; nonfarm payroll employment increased 300,000
The wholesale price index declined slightly
TOTAL PRODUCTION
THE LABOR MARKET
PRICES
Million Persons
Percent
16
IMPLICIT PRICE DEFLATOR .FOR GNP**
(Change From Previous Quarter) .-•
CIVILIAN LABOR FORCE AND EMPLOYMENT
12
1,050 -
83 -
1,000 ^
80
950
77
Quarterly (Hi)
Monthly (Oct.)
Quarterly (III)
Percent
Billion $
Percent
16
40
30
20
CHAIN PRICE INDEX F0R GNP*
(Change From Previous Quarter)
CURRENT DOLLAR 6NP**
(Change from
- Previous
Quarter)
S^Final Sales
-Total-
12
g.
Nil Ih, In
10
Quarterly (Hi)
Monthly (Oct.)
Billions
Billion $
160
850
800
Quarterly (III)
BLS
750 ~
68 7-'-.;
-
140
120 -
64 -
-
130
110 -
120
100 I '.t ..t..| t r
Monthly (Oct.)
Quarterly (III)
45.0
CONSTANT DOLLAR (1958) GNP**
(Change From Previous Quarter)
Total
-*- Final Sales
42.5
Monthly (Sept.)
Dollars
Hours
Percent
3.75
PRODUCTION OR NONSUPERVISORY
.;.
WORKERS (PRIVATE)*;
>*<
Average Hourly Earnings
(right scale) >-*
3.50
'"• ! \^0-.;v
40.0
Average
Weekly Hours
(left scale)
37.5
-5
1970
1971
1972
BEA
Quarterly (III)
* Seasonally Adjusted
* * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
140
150 130 -
60
650
1967=100
-
^~
1967=100
125
120 -
3.25
115
3.00
110 •*
35.0 I t t f i i I i i i i. i i:,,ijj t j I i i i i 11 1 1 1 1 i 1 t t J t )j J 2.75
1970
1971
1972
BLS
Monthly (Oct.)
BEA
105
1970
1971
Monthly (Oct.)
1972
BLS
9
SURVEY OF CURRENT BUSINESS
November 1972
CHART 4
*
•
In October: Personal income advanced $15% billion-boosted by a sharp increase in social security payments
Retail sales rose 2% percent; sales of new cars continued strong
FIXED INVESTMENT
CONSUMPTION AND SAVING
INCOME OF PERSONS
Percent
14
Billion $
750
Billion $
950
Billion $
100
- r ,
Producers' Durable Equipment**
PERSONAL CONSUMPTION EXPENDITURES *
AND PERSONAL SAVING RATE*
PERSONAL INCOME**
700
900
850
650
Personal Consumption
Expenditures
(left scale)
75
10
50
4>
/
8
-»4
Personal Saving Rate
.(right scale)
.1 .. t t i t i
25
/
750
Monthly (Oct.)
Billion $
i
500
200
30
150
25
i
l
i
i
i
i
i
BEA
Billion $
100
- PLANT AND EQUIPMENT EXPENDITURES**
Total
35
Manufacturing
(right scale)
t
Quarterly (III)
RETAIL STORE SALES*
Total
(left scale)
550
i
Billion $
40
WAGES AND SALARIES*
600
Residential Strucftures**
Quarterly (III)
BEA
Billion $
650
_ Nonresidential Structures**
,•.11 """"|| i
600
800
12
90
80
70
Excluding Automotive firotip
o Expected
100
450
20
1L
Monthly (Oct.)
<
60
Monthly (Oct.)
Quarterly (IV)
Billion $
850
I
|
BEA
Billion $
DISPOSABLE PERSONAL INCOME*
800
750
- 2
6 ~
700
4 I I i I I I I I i I i l l in i I I i i i i I I i i i i i I i i i t i l 0
Quarterly (III)
Monthly (Oct.)
Dollars
2,900
Trade Sources & BEA
Billion $
1.5
REAL PER CAPITA DISPOSABLE
PERSONAL INCOME**
2,800 - (In 1958 Dollars)
Monthly (Sept.)
Million Units
3.0
NET CHANGE IN INSTALLMENT
PRIVATE HOUSING**
CREDIT OUTSTANDING*
2.5
1.0
2,700
2.0
2,600
1.5
2,500 I
L_l
L
1970
1971
Quarterly (III)
1972
BEA
* Seasonally Adjusted * * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
487-759 O - 72 - 2
1970
1971
Monthly (Sept.)
1972
1.0 «*3 \. t t >J | tiAAJ ' • • • < ' • * ' t - i - t t * * *,i,iHb'-l < I t < H t ,* t\ i
1970
1971
1972
Monthly (Oct.)
Census
0
SURVEY OF CUEEENT BUSINESS
*
*
•
U.S. merchandise trade showed a deficit of over $500 million in September
In third quarter: Balance of payments was in deficit about $4V2 billion on both liquidity and official reserve bases
Federal receipts increased and expenditures declined; budget deficit dropped to $11V2 billion
INVENTORIES
FOREIGN TRANSACTIONS
Billion!
Billion!
30
10
GOVERNMENT
Billion$
200
GOVERNMENT PURCHASES OF
GOODS AND SERVICES**
NET EXPORTS**
CHANGE IN BUSINESS INVENTORIES**
(GNP Basis)
5
20
10
November 1972
Goods and Sen/ ices
V
"V
0
.111+ll_. if
160
State and Local
V-p--\
,'
••
- '
-
120
•~*~*****^^
v* y \
Merchandise \.t
-5
-10
-»lrt
Billion
200
t
l
i
L
80
» i
1
I I
Quarterly (ill)
BEA
240
,****"" '
170
-^
160
ni* 1t *M 11
4
200
3
160
FEDERAL BUDGET**
(NIA Basis)
"~
Expenditures
^>^ - .
2
Imports
i i i 1 1 i t i 1 11
1 1M 1 ! i ti11
1 1 1 1 1 i 1 1 1 I1
Monthly (Sept.)
Census & BEA
120
i
Billusn$
140
10
50
t {i i i i i I i f i
i ii i i1 1 iiii
Monthly (Sept.)
Census &m\
-10
t
i
1
i
1
!
1
1
-50
0
Total Manufacturing
and Trade
1971
Monthly (Sept.)
* Seasonally Adjusted
«
1972
Census & BEA
* * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
i r
i l l
BEA
1
••iiiiim
i r i t t i t
\ i t
BEA
DEFENSE PRODUCTS MANUFACTURERS*
3
—ITT^s.
_ Official Reserve'
Transactions
Balance
-10
L f I L 1JJ.1 1 LJ JL I 1 * » J * 1 »
1970
-5
\
Quarterly (HI)
BALANCE OF PAYMENTS*
>-VA V^-W
^—^•
""""••"•"/
Trade
I 1I 1 1 I t I ! 1 1
,
**«*x • • ' ~*
„„„*•****** *+*^*
Bil ion $
4
5
Manufacturing
f
BE/i
Quarterly (II)
INVENTORY/SALES RATIOS*
1.0
t
-25
Bill on $
2.6
1.4
C urrent Account and
Long-Term Capital
-5
Rath>
1,8
0
0
100
2.2
BEA
', .
Current Account
Manufacturing
1 1 1 1 ! 1 M i t 1
"i . ' . .
25
5
60
t
FEDERAL BUDGET POSITION **
(NIA Basis)
BALANCE OF PAYMENTS*
120
Trade
i
Quarterly (Hi)
Billi 3 n $
MANUFACTURING AND TRADE INVENTORIES*
(Book Value, End of Month)
f
Census
Billion $
80
i
Receipts
i 1 1 1 ii i 1 1 1 1 ij i i 11 i 1 1 t t
Monthly (Sept.)
i
Billior1$
280
5
190
i
Quarterly (ill)
BEA
MERCHANDISE 1RADE*
MANUFACTURE S AND TRADE INVENTORIES*
(Book Value, End-d Month)
Defense
i i
i
40
Bill on $
6
$
180
Federal Total
\ A\
***»»•
' «*
**»«,»***
Quarterly (ill)
^**r^~~*^*''
Net Liquidity
\ Balance
A .
V
I
1970
i
I
I
I
1971
Quarterly (III)
i
t
t
0
1972
.• ' H ' •
« - || »
New Orders
1 11 1 1 1 1 1 t 1 t
1970
BEA
'
2
1
V
!
Shipments
#, \
| | 1) 1 11 1 1M
1971
Monthly (Sept.)
-
M
! M 11 1 1 1 1
1972
Census
11
SUKVEY OF CURRENT BUSINESS
November 1972
CHART 6
® In October: Industrial production rose about 0.9 percent
•
Money supply growth slowed; bank credit expansion strong
• Corporate profits (before tax and including IVAj increased $3% billion in third quarter
MONEY, CREDIT, AND SECURITIES MARKETS
INDUSTRIAL PRODUCTION
550
130
INDUSTRIAL PRCpCTfQff *
120
pl^
v ;
Jtatefefe;
PROFITS AND COSTS
Billion $
Billion $
1967 = 100
500
no
450
100
400
350
Monthly (Oct.)
FRB
1967=100
Billion $
150
125
4 r-
100
2 ~
,-n
75
-2
50
Monthly (Oct.)
Monthly (Oct.)
FRB
Percent
100
Quarterly I
BEA
Percent
Percent
, QUIFUr TO CAMCIW*
90
80
70
60 I
( Xi
Quarterly (HI)
FRB
Quarterly (111)
1941-43=10
140
Billion $
40
STOCK
DURABLE
Percent
*
120
36
, Standard ^ Poor'? Sljft ,
32
100
28
80
24
ArV-l-J-* 4, y * i * *'*" * f * * 1 1 . 1 ' t t^i. \, i't t ^t t.i».i i-.i....t...
1970
1971
1972
Monthly (Sept.)
Census
Seasonally Adjusted
60
-8
1970
1971
Monthly (Oct.)
1972
1 Q 7 H ' 1 9 7 J I 1 9 7 2
1970
Quarterly (III)
BLS
* * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
72-11-6
SURVEY OF CURBENT BUSINESS
12
November 1972
NATIONAL INCOME AND PRODUCT TABLES
1972
1971
1970
1971
II
III
IV
I
II
1971
III
1970
II
1971
III
1972
I
IV
II
III
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Billions of 1958 dollars
Billions of current dollars
Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
Gross national product
722.1
741.7
737 9
742.5
754.5
766.5
783.9
796.1
616.8
664 9
660 4
670 7
680 5
696 1
713.4
728.6
477 0
495 4
493 0
497 4
503 2
511.0
520.9
528.7
90 5
264.4
261.8
103 5
278 1
283.3
101 9
277 2
281 3
106 1
278.5
286.1
106 1
283 4
290.9
111 0
288. 3
296.7
113 9
297.2
302.4
118 6
302.0
308.0
83 1
207 0
186 8
92 1
211 1
192 2
90 0
211 2
191 8
94 2
210 5
192.8
95 4
212.8
195.0
98.6
214.7
197.7
100.7
220.1
200.0
104.5
221.9
202.3
137 1
132.2
152 0
148 3
153 0
146 4
152 2
150.9
158 8
157 2
168 1
167. 7
177.0
172.0
183 2
175 2
104 0
99 9
108 6
105 9
110 0
104 7
107 3
106.6
112 0
111.3
116.6
116. 3
122.0
118.0
125.5
119.3
100 9
36.0
64.9
105 8
38 4
67.4
105 0
38 3
66.7
106 3
38.7
67.6
109 8
38.8
71.0
116 1
41.3
74.8
119 2
42.0
77.2
120 7
41 8
79 0
77 6
23 6
54 0
76 8
22 8
54 0
76 4
23 0
53 3
76 4
22 5
53.9
79 2
22.2
57.0
82.2
23.0
59.2
83.6
23.0
60.6
84.2
22.6
61.6
31.2
30.7
.5
42.6
42 0
.6
41.4
40 9
.5
44.5
43.9
.7
47.3
46.7
.6
51.6
51.0
.6
52.8
52.1
.6
54.4
53 7
.8
22.3
22 0
4
29.1
28 7
.4
28 3
28 0
4
30.1
29.7
.5
32.1
31.7
.4
34.2
33.8
.4
34.4
34.0
.4
35.1
34.6
.5
4.9
4.8
1
3.6
2.4
12
6.6
5.1
15
1.3
-.2
16
1.7
.8
9
.4
.1
3
5.0
4.3
.7
80
79
1
41
40
26
16
1i
53
4 0
13
.7
—.6
1.3
.7
—.1
.8
.3
-.1
.3
3.9
3.4
.5
6.2
6.2
.1
976.4 1,050.4 1,043.0 1,056.9 1,078. 1 1,109. 1 1,139.4 1,164.0
Personal consumption expenditures ..
Durable goods
Nondurable goods
Services..
Gross private domestic investment
Fixed investment _ .
Nonresidential
Structures
Producers' durable equipment
Residential structures
Nonfarm Farm
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
o
3.6
.7
.1
.4
—2.1
-4.6
-5.2
—3 4
22
1
— 7
.1
—1.8
-3.3
-2.8
-.7
62.9
59.3
66.1
65.4
66 7
66.6
68.5
68.2
63.0
65.1
70.7
75.3
70.0
75.2
74 4
77 8
52 2
50 0
52 6
52 5
53 0
53 8
54.4
54.3
49.9
51.7
55.5
58.9
54.2
57.0
57.2
57.9
219.0
232.8
229.5
233.6
240.9
249.4
254.1
255.6
139.0
137.6
135.7
137.6
141.1
142.2
143.9
142.6
96.5
75 1
21.5
97.8
71 4
26.3
96.3
71 2
25 0
97.9
70 1
27.8
100.7
71 9
28.7
105.7
76 7
28.9
108.1
78.6
29.6
105 4
75 1
30 2
64 7
60 8
59 7
61.0
62.3
62.8
63.7
60.8
122.5
135.0
133.3
135.7
140.2
143.7
146 0
150 2
74 3
76 8
76 0
76.7
78.8
79.4
80.3
81.8
Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
Gross national product
Final sales
Change in business inventories
_ _
Goods output - -
976.4 1 050 4 I 043 0 1 056 9 1 078 11 109 11 139 4 1 164 0
722 1
741 7
737 9
742 5
754 5
766.5
783 9
796.
971 5 1 046 7 1 036 4 1 055 6 1 076 4 1 108 6 1 134 4 1 156 0
'4
4.9 ' 3.6
1.3
50
6.6
1.7
80
471 9
495 5 492 4
497 5
504 8
517 6
537 1 550 4
718 0
41
739 1
26
732 6
5.3
741 7
.7
753 8
.7
766.3
.3
780 0
3.9
789.
6.
385 8
393 8
391 0
394 5
400 4
407.0
420 7
428.
399.7
.7
406.8
.3
416.7
3.9
422.
6.
Final sales
_
Change in business inventories
467.0
4.9
491 8
36
485 8
66
496 2
13
503 1
17
Durable goods
Final sales.
Change in business inventories
184 9
183 0
1.9
195 7
194 6
1.1
194 5
191 0
3.6
196 7
197 7
—1.0
Nondurable goods- Final sales
_ _ _ _ _
Change in business inventories
287 0
284 0
3.0
299 8
297 3
25
297 9
294 8
31
409 2
443 9
95 4
111 0
Services
Structures
_ _
517 2
4
532 1
50
542 4
80
381 7
41
391 2
26
385 7
53
393 7
7
198 2
200 1
—1 9
209 2
208*8
4
217 6
214 6
3.0
226 1
220 7
54
160 0
158 6
14
164 5
163 8
6
162 8
160 0
2.8
164 9
166.0
—1.1
167.4
169.5
—2.1
175.0
174.8
.3
181.4
179.1
2.3
187.
183.
4.
300 8
298 5
23
306 6
303 0
35
308 4
308 4
o
319 6
317.5
2.1
324 3
321 7
26
225 8
223 2
26
229 4
227 3
20
228 3
225 7
2 6
229 5
227.7
1.9
233.0
230.2
2.8
232.0
232.0
.0
239.2
237.6
1.6
240.
238.
2.
441 1
446 7
456 3
467 3
477 3
487 3
272 5
278 4
278.2
278.4
282.3
285.2
289.3
293.
109 5
112 7
117 0
124 2
125 0
126 3
63 8
69 5
68.8
69.6
71.8
74.3
74.0
74.
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
722 1
741 7
737 9
742 5
754 5
766.5
783.9
796.1
861.8
925 6
919 3
931 4
950 2
976 6 1 005 0 1 026 6
661 3
681 0
677 5
681.7
693.7
705.6
723.0
734.5
826,3
797 3
28 9
884 7
853 9
30 9
878 7
848 5
30 2
890 9
859 6
31 2
906 6
874 5
32 1
933 7
901 8
31 9
960 8
928 2
32 6
980 8
947 8
33 0
640 7
616 0
24 7
658 5
633 0
25 5
654 8
629 3
25 4
659 8
633 9
25 9
669 8
644 8
25 0
682.9
659.2
23.8
700 1
676 4
23.8
711.1
688.7
22.4
30 9
33 9
33 2
34 3
35 1
36 0
37 3
38 6
16 7
16 9
16 7
16 9
17 1
17 4
17.7
18.2
46
69
74
62
85
68
6.9
72
4 0
56
60
50
68
5.4
5.2
5.3
114.7
124 8
123 7
125 5
127 9
132 5
134 4
137 4
60 7
60 7
60 5
60.8
60.8
60.9
60.9
61.6
976 4 1 050 4 1 043 0 1 056 9 1 078 11 109 11 139 4 1 164 0
.
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 SUKVEY contains preliminary data for the latest 2 years and final data for the preceding 2. The July 1972 issue has
data for 1968-71. BE A will provide on request a reprint of final data for the years 1964-67. Prior July issues have final data as follows:
1964-65, July 1968; 1965-66, July 1969; 1966-67, July 1970; 1967-68, July 1971.
SURVEY OF CURRENT BUSINESS
November 1972
1971
II
III
I
IV
II
1970
III*
1971
Table 4.—Relation of Gross National Product, National Income,
and Personal Income (1.9)
104.1
93.8
92.4
95.0
Equals: Net national product.. 890.1 956.6
950.6
961.9
980.7 1,009.3 1,034.1 1,059.9
100.3
102.6
105.6
106.7
108.7
111.4
4.7
-5.9
4.7
-5.2
4.8
-4.1
4.9
-•1
5.0
2.2
Less: Indirect business tax
and nontax liability- . 93.4
Business transfer pay4.2
ments _
Statistical discrepancy _. -4.7
Plus: Subsidies less current
surplus of government enterprises
Equals: National income
Less: Corporate profits and
inventory valuation
adjustment
Contributions for social
insurance
Wage accruals less disbursements
Plus: Government transfer
payments to persons. .
Interest paid by government (net) and by
consumers
Dividends
Business transfer payments
Equals: Personal income
101,9
4.6
-4.8
4.6
-4.9
97.4
99.7
105.3
1.5
.9
.8
.3
.7
1.2
1.6
1.8
855.7
851.4
860.8
876.2
903.1
922.1
943.1
69.9
78.6
80.1
78.3
79.4
81.8
86.1
89.7
57.7
65.3
64.8
65.7
66.9
71.9
73.1
74.6
.6
.2
.6
1.4
I
II
-1. 4
-.5
798. 6 855.7 851.4 860.8 876.2 903.1 922.1
Compensation of employees.. .
Wages and salaries
Private
Military
Government civilian
III*
— 2
75.2
89.0
90.7
90.3
92.1
94.4
95.7
97.7
31.0
24.8
31.1
25.4
31.0.
25.4
31.1
25.5
30.9
25.2
30.9
26.0
31.8
26.2
31.7
26.5
4.2
4.6
4.6
4.7
4.7
4.8
4.9
5.0
806.3
861.4
858.1
867.9
881.5
907.0
922.1
939.9
943.1
603.8 644.1 639.6 648.0 660.4 682.7 697.8
710.2
541.9 573.5 569.6 576.5 587.3 606.6 620.0
630.6
426.8 449.7 447.0 451.6 460.9 475.8 487.1
19 6 19.4 19 4 18 8 19.4 20.8 20.5
95.5 104.4 103.3 106.0 107. 0 110.0 112. 4
494.8
20. 4
115.4
Supplements to wages and salaries.. 61.9
Employer contributions for social
insurance
. . . 29.7
70.0
71.5
73.0
76.1
77.8
79.6
34.1 33.8
34.3
35.0
37.3
38. 0
38 8
32 1
36.5
36 1
37 2
38.0
38 8
39.8
40 8
66.8
70,0
69 3
70 7
71.8
73 3
73 2
75 3
49.9
16.9
52.6
17.3
52.4
16.9
53 1
17 6
53.8
18.1
54 3
19 1
54 4
18.7
56 2
19 1
Rental income of persons
23.3
24.5
24.4
24.8
25.0
25.2
24.2
26.2
Corporate profits and inventory valuation adjustment
69 9
78 6
80 1
78 3
79 4
81 8
86 1
89 7
74 3
83.3
84.5
84.1
83.2
88.2
91 6
95 g
34.1
40 2
24.8
15.4
37.3
45 9
25.4
20.5
38.6
45 8
25.4
20.4
37.5
46 6
25 5
21.0
35.3
48 0
25 2
22.7
38.8
49 5
26 0
23.5
40 1
51 5
26 2
25 3
42
53
26
27
Other labor income
798.6
.0
IV
Table 6.—National Income by Type of Income (1.10)
National income
976.4 1,050.4 1,043.0 1,056.9 1,078.1 1,109.1 1,139.4 1,164.0
86.3
III
Billion of dollars
Billions of dollars
Less: Capital consumption
allowances _.
_
II
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Gross national product
1972
1971
1972
1971
1970
13
Proprietor's income
Business and professional
Farm
..
_.
_ .
Profits before tax..
Profit tax liability
Profits after tax
Dividends Undistributed profits
Inventory valuation adjustment
70.7
-4.4 -4.7 -4.4 -5.8 -3.9 -6.5 -5.5
Net interest
34.8
38.5
38.1
39 1 39.7
40 1
40 9
0
7
5
2
-6.1
41 7
Table 7.—National Income by Industry Division (1.11)
Table 5. — Gross Auto Product in Current and Constant Dollars
(1.15,1.16)
Billions of current dollars
Gross auto product 1 - - - - Personal consumption
expenditures..
Producers' durable equipment.- _
Change in dealers' auto
inventories .
Net exports
Exports _
Imports. _
30.7
40.9
40.1
42 .4
38.8
39.9
41.5
46.0
28.0
35.4
34.3
37.1
35.9
36.9
38.2
41.6
4.9
6.2
6.1
6.5
6.3
6.5
6.7
7.3
-.9
1.4
1.6
1.2
-1.2
-.9
-.6
—.9
-1.7
2.0
3.7
-2.5
2.5
5.1
-2.3
2.6
4.9
-2.9
2.8
5.7
-2.8
2.2
5.0
-3.0
2.7
5.7
-3.2
2.7
5.9
—2.5
3.4
5.9
26.0
6.3
35.7
7.8
34.1
8.3
37.9
7.7
34.0
7.4
34.4
8.5
36.2
8.7
41.1
8.0
37.0
40.6
All industries, total..—
798.6 855.7 851.4 860.8 876.2 903.1 922 1
Agriculture, forestry, and fisheries
Mining and construction _
Manufacturing
__ _ __
Nondurable goods . _ _ _ _ __Durable goods
--
943 1
25.5 26.5 25.9 26.7 27.4 28.5 28.2
50.5 54.2 53.9 54.4 55.7 57 5 57 3
216.3 223.2 223.1 222.3 226.8 238. 0 245.6
87.5 90.3 90.0 90.7 91.7 94.8 96.3
128.7 132.9 133.1 131.6 135.1 143.1 149. 3
Transportation
- - 29.7 32.5 32.6 33 1 33.0 34.8 35.0
Communication _ _ 16.8 18.2 18.2 17.8 18.8 19.7 20.5
Electric, gas, and sanitary services
14.6 16.3 16.4 16.7 16.4 16.6 17.9
Wholesale and retail trade _
121.2 130.8 130.2 132.5 133.7 135.8 138.8
Finance, insurance, and real estate
90.0 98.7 97.9 100.2 100. 8 102.3 103.6
Services
_ _ _
102.7 110.6 109.4 111.8 114.0 117.1 120.2
Government and government enterprises
_ - _ - 126.8 137. 9 136.5 139.2 141.1 145.9 148.1
6.9
8.5
7.4
6.2
6.8
4.6
6.9
Rest of the world
Addenda:
New cars, domestic 2
New cars, foreign. .
Billions of 1958 dollars
Gross auto product l .~ . -Personal consumption
expenditures
Producers' durable equipment
Change in dealers' auto
inventories
Net exports -.
Exports
Imports
28.4
36.4
34.8
37.8
35.8
35.6
31.4
29.7
33.1
33.1
32.9
33.9
36.6
4.6
5.6
5.3
5.9
5.9
5.9
6.1
6.6
-.9
1.3
1.5
1.1
-1.1
-.8
-.6
.O
-2.3
2.3
4.6
-2.1
2.4
4.5
-2.6
2.6
5.2
-2.5
2.0
4.6
-2.7
2.4
5.0
-2.9
2.4
5.2
0
—2.2
3.0
5.2
Addenda:
New cars, domestic .
New cars, foreign __ _
24.7
6.0
32.5
7.1
30.5
7.4
34.5
7.0
31.9
6.9
31.4
7.8
32.8
7.9
37.1
7.2
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 corporate profits (and related components and totals) are preliminary and
subject to revision next month.
All industries, total
- -
Financial institutions
26.0
-1.7
1.9
3.6
2
Table 8.—Corporate Profits (Before Tax) and Inventory Valuation
Adjustment by Broad Industry Groups (6.12)
Federal Reserve banks
Otherfinancialinstitutions
69.9
14.5
.. -
Nonfinancial corporations
Manufacturing
Nondurable goods
- Durable goods
- Transportation,
communication,
and public utilities
All other industries
3.6
10.9
78.6
80.1
78.3
79.4
81.8
86.1
89.7
16.7
16.4
17.0
16.6
16.5
17.5
18.3
3.3
13.3
3.2
13.2
3.4
13.6
3.3
13.3
3.4
13.2
3.3
14.2
3.4
15.0
71.4
55.4
61.9
63.7
61.3
62.7
65.2
68.5
27.7
16.7
11.0
30.9
16.8
14.1
31.2
16.8
14.4
30.1
16.9
13.3
31.2
16.9
14.3
35.4
17.7
17.7
37.0
17.6
19.4
7.6
20.1
8.2
22.9
8.8
23.7
8.5
22.6
7.6
23.9
7.8
22.0
8.8
22.8
SURVEY OF CURRENT BUSINESS
14
1971
1970
1971
II
III
November 1972
IV
II
1970
III
1971
544.4 580.3 577.6 583.4 593.5 613.7 631.9
55.2
60.3
59. 4
61.2
63.0
64.8
68.0
52.8
56.9
56.0
57.2
58.9
59.2
60.2
Income originating in corporate business
__.
' _ _ 436.5 463. 1 462.2 465.0 471.6 489.8 503.7
368.8 388.8 386.8 390.4 398.2 412. 2 422.4
325.5 340.2 338. 6 341.2 348.1 359. 7 368.6
43.2 48.6 48.3 49.1 50.1 52.5 53.8
Net interest
2.6
1.5
1.6
1.3
1.2
1.1
1.0
Corporate profits and inventory
65.2 72.8 73.8 73.3
_•__-__ 69.6 77.4 78.1 79. 1
34.1 37.3 38.6 37.5
35.4 40.1 39.5 41.6
22.4 22.2 21.9 22.8
Undistributed profits
13.0 17.9 17.7 18.8
Inventory valuation adjustment-- —4.4 -4.7 —4.4 —5.8
Profits before tax
.
Profits tax liability
Profits after tax
Cashflow,gross of dividends _.
Cash flow, net of dividends
. 90.6 100.4
'.. 68.2 78.2
Gross product originating in
financial institutions
72.2 76.5 80.3
76.1 82.9 85.9
35.3 38.8 40.1
40.8 44.2 45.8
21.1 23.0 23.0
19.7 21.2 22.8
—3. 9 —6.5 —5.5
98.9 102.8 103.8 109.0 113. 8
77.0 80.0 82.7 85.9 90.8
644. 2
fis A
61 7
514. 1
o
m/ 6o
6
'*'
55.0
42o
10
Ro
q
JQ Q
JQ JJ
£*•"
OA «
24. 61
-6.
116 3
<J3
-°
32.6
33. 8
Gross product originating in
nonfinancial corporations
516.1 549.4 546.9 552.2 562.6 582.4 599.3
Capital consumption allowances.
53.2 58.0 57.1 58.8 60.5 62.1 65.2
Indirect business taxes plus transfer
payments less subsidies
50.3 54.3 53. 4 54.6 56.2 56.5 57. 4
Income originating in nonfinancial
corporations
412.6 437.2 436.3 438.8 445.9 463.8 476.6
Compensation of employees . _ . _ - - - _ . 346. 9 365.0 363. 0 366.2 373.8 387.0 396.7
Wages and salaries _ _ -. _ _ _
306.5 319. 6 318.0 320.4 327. 1 338.0 346.5
Supplements
40.4 45.3 45.0 45.8 46.7 48.9 50.2
610 4
28.3
30.9
30.7
31.2
30.9
31.4
15.0 16.1 16.0 16.3 16.6 16.8
Corporate profits and inventory
valuation adjustment
50.7 56.1 57.4 56.3 55.6 59.9
Profits before tax
_ _ _ _ . 1 55.1 60.8 61.7 62.1 59.4 66.4
Profits tax liability
26.9 29.4 30.8 29.5 27.4 31.1
Profits after tax
28.2 31.3 30.9 32.6 32.0 35.4
Dividends
. _ _ _ . 119.9 19.5 19.2 20.0 18.6 20.3
Undistributed profits
8.3 11.9 11.7 12.6 13.5 15.1
Inventory valuation adjustment. _ -4.4 -4.7 -4.4 -5.8 -3.9 -6.5
81.4 89.3 88.0 91.5 92.5 97.5
61.5 69.8 68. 8 71.4 73.9 77.2
' - oo. o
58 8
48o. 1
351 8
62.8
68.4
32.1
36.3
20.3
16.0
—5.5
101.5
81.3
Gross product originating in
nonfinancial corporations _
427.4 438.8 436.8 438.9 447. 3 459.6 471.7
65. 6
??'Q
6L y
20.5
^•j
-~
0 A
I0.*-4,
»2.y
479. 2
Dollars
- „_.
i.j/4
_
. 135 . 138 . 10
137
.124
.132
.131
.134
.135
.118
.812
.035
.124
.832
.037
.122
.831
.037
.124
.834
.037
. 126 .123
.836 .842
.037 .037
Corporate profits and inventory valuation adjustment _
.119
Profits tax liability
.063
Profits after tax plus inventory valuation adjustment. . .056
.128
.067
.131
.071
.128
.067
.124
.061
.061
.061
.061
.130
.068
. 063 .063
.122
.841
.036
.123
.841
. 133
.068
1 ^7
' nyn
.065
036
n««
1. Excludes gross product originating in the rest of the world.
2. This is equal to the deflator for gross product of nonfinancial corporations, w th the
decimal point shifted two places to the left.
3. Personal saving as a percentage of disposable personal income.
* See footnote on page 13.
Personal income.
_
_
806. 3
Wage and salary disbursements . . . 541.9
.
Commodity-producing industries -_ 201.0
JManufacturing
158.3
129.2
Distributive industries
Service industries
96.7
115.1
Government
Other labor income
32.1
Proprietors' income
.._•
66.8
B usiness and professional _
49.9
Farm
16.9
*arm
23.3
Rental income of persons
Dividends
24.8
Personal interest income
65.8
79.5
Transfer payments..
Old-age, survivors, disability, and
38.5
State unemployment insurance
benefits
3.9
Veterans benefits
9.7
Other
27.4
umer
Less: Personal contributions for
social insurance..
__
_:
28.0
Less: Personal tax and nontax payments
116.7
Equals : Disposable personal income. _ .689. 5
Less: Personal outlays
634. 7
Personal consumption expenditures.. 616.8
16.9
Personal transfer payments to foreigners
1.0
54.9
Equals :Personal saving .
Addenda:
Disposable personal income:
Total billions of 1958 dollars
Per capita' 1958 dollars
Personal saving rate 3 percent
II
III
861. 4
572.9
206. 1
160.3
138. 2
105.0
123.5
36.5
70.0
52.6
17.3
24.5
25.4
69.6
93.6
858.1
569. 5
205.7
160.2
137.2
103.9
122. 7
36.1
69.3
52.4
16.9
24.4
25.4
69.1
95.2
867.9
575.9
206.0
160.0
139.1
106.3
124.6
37.2
70.7
53.1
17.6
24.8
25.5
70.2
95.0
881.5
585.9
209.9
162.7
141.7
108.4
125.9
38.0
71.8
53.8
18.1
25.0
25.2
70.6
96.8
907. 0
608. 0
217.5
168.8
147.2
111.9
131.4
38.8
73.3
54.3
19. 1
25.2
26.0
71.0
99.2
922.1
620. 5
222.6
174.1
150.1
114.7
133.1
39.8
73.2
54.4
18.7
24.2
26.2
72.7
100. 6
939.9
630.8
225.1
176.6
152.4
117.5
135.8
40.8
75.3
56.2
19.1
26.2
26.5
73.4
102.7
44.5
46.7
45.0
45. 7
46.8
48.1
48.8
5.7
11.3
32.2
5.7
5.9
11.2 .11.3
31.6 32.8
6.2
11.6
33.3
5.4
11. 9
35.1
5.6
12.3
34.6
5.8
12.5
35.6
31.2
31.0
31.9
34.6
35.1
35.8
31.3
117.0
744.4
683.4
664.9
17.6
115.2
742. 9
678.8
660.4
17.5
117.5
750.4
689. 4
670.7
17.6
123.0
758.5
699.2
680. 5
17.7
136.5
770.5
714.9
696.1
17.8
139.5
782.6
732.5
713.4
18.0
141.1
798.8
748.0
728.6
18.2
1.0
60.9
.9
64.1
1.1
61.0
1.1
59.3
1.0
55.7
1.1
50.1
1.2
50.8
533.2 554.7 554.6 556.5 560.9 565.7 571.4
3,366 3,595 3,592 3,620 3,649 3,700 3,751
2,603 2,679 2,682 2,684 2,698 2,716 2,739
7.2
6.4
8.0
8.2
8.6
8.1 7.8
579.6
3,821
2, 773
6.4
Table 11.—Personal Consumption Expenditures by Major Type (2.3)
Personal consumption expendi616.8 664.9 660.4 670.7 680.5 696.1 713. 4
ltures
re
728.6
90.5 103.5 101.9 106.1 106.1 111.0 113.9
118.6
Durable goods
..
49.9
3.9
51.3
4.1
54. 8
3.7
46.5
14.7
46.8
15.7
47.9
15.9
264.4 278.1 277.2 278.5 283.4 288.3 297.2
302.0
136.6 137.9 140.3 144.1
57.4 58.5 59.4 61.5
23.5 24.3 24. 6 24.5
60.9 62.8 64.0 67.1
145.8
62.6
25.4
68.2
261.8 283.3 281.3 286.1 290.9 296.7 302.4
308.0
90.9 99.2 98.1 100.3 102.5 104.2 106.1
36.3 39.5 39.1 40.0 40.7 41.2 42.7
18.2 19.9 19.8 20.2 20.4 21.0 21.5
116.3 124.8 124.3 125.7 127.3 130.3 132.0
108.1
44.0
•21.9
134.0
Table 12. — Foreign Transactions in the National Income
_
and
Automobiles and parts
37.3
2.5
Mobile homes
_
Furniture and household equipment
_
39.0
Other .
_.
- _ _ - . _ 14.2
Food and beverages
Olnthing and shoes.
Gasoline and oil.
Other
Housing
Household operation. _.
Transportation
Other...
46.7
3.3
45.4
3.3
48.8
3.6
47.9
3.5
42.0
14.8
41.4
15.0
41.9
15.5
43.5
14.7
..... 132. 1 136.4 135.9
52.0 56.9 56.7
_ _ _ _ _ _ 22. 2 23.5 23.0
58.1 61.3 61.6
Services
1.208 1.252 1.252 1.258 1. 258 1.267 1.271
Indirect business taxes plus transfer
payments less subsidies
Compensation of employees— Net interest
.. _
I
17.1
Billions of 1958 dollars
Current dollar cost per unit of
1958 dollar gross product
originating in nonfinancial
IV
Table 10.—Personal Income and its Disposition (2.1)
Table 9.—Gross Corporate Product 1 (1.14)
Wages and salaries
Supplements
III
Billions of dollars
Billions of dollars
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies
II
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Gross corporate product
1972
1971
1972
-. _
Product Accounts (4.1)
Receipts from foreigners
63.7
Exports of goods and services ...
Capital grants received by the United
66.9
67.4
69.2
63.7
71.5
70.7
75.1
63.0
70.7
70.0
74.4
.7
.7
.7
.7
70.7
75.1
62.9
66. 1
66.7
68.5
.9
.7
.7
.7
Payments to foreigners _ -
63.7
66.9
67.4
69.2
63.7
71.5
Imports of goods and services
59.3
65. 4
66.6
68. 2
65.1
75.3
75.2
77.8
3.2
1.0
2.2
3.6
1.0
2.6
3.4
.9
2.5
3.8
1.1
2.7
4.0
1.1
2.9
3.8
1.0
2.8
3.8
1.1
2.8
3.8
1.2
2. 6
1.2 —2.1 -2.5 -2.7 —5.4 —7.7 -8.3
-6.5
Transfers to foreigners
Personal
Government
Net foreign investment
.
SURVEY OF CURRENT BUSINESS
November 1972
1971
II
III
1971
1972
1971
1970
15
I
IV
II
III*
1970
1971
II
Table 13.— Federal Government Receipts and Expenditures (3.1, 3.2)
Personal consumption expenditures
88.1
34.4
89.8
33.2
III
135. 23 141.61 141.34 142.35 142.88 144.68 145.34 146.21
129.3 134.2 134.0
Durable goods . .
Nondurable goods
Services
134.8 135.2 136.2
137.0
137.8
108.9 112.4 113.2 112.7 111.3 112.6 113.0
127.7 131.7 131.3 132.3 133.2 134.2 135.0
140.1 147.4 146.7 148.4 149.2 150.1 151.2
113.5
136.1
152.2
19.7
62.6
63 8
204.5 220.8 221.2 222.2 227.5 236.3 246.5
241. b
105. 4
Fixed investment
132.2 140.0 139.8 141.6 141.2 144.2 145.8
146.9
30. 2
Nonresidential
130.0 137. 7 137.5 139. 1 138.6 141. 3 142. 6
143.5
Structures
152. 7 168.4 166.3 171. 9 174.9 179. 3 182.7
Producers' durable equipment _. 120, 1 124.7 125.0 125. 4 124.5 126.5 127,4
185.0
128.3
140.0 146.3 146. 0 147. 8 147. 5 151.0 153.3
140.0 146.3 146. 1 147.9 147.6 151.1 153.4
134. 9 140.9 140.5 142,7 141. 7 145.6 147.3
155. 0
155.1
148.8
20.5
55.9
20.2
55.6
20.0
56.1
20.8
57.0
19.9
61.7
97.8
71.4
26.3
96.3
71.2
25.0
97.9 100.7 105.7 108.1
70.1 71.9 76.7 78.6
27.8 28.7 28.9 29.6
: _ _ _ 63.3 75.0
61.1 72.4
2.2
2.6
76. 8
74.3
2.5
76.3
73.6
2.7
77.8
74.9
2.9
79.4
76.6
2.8
80.4
77.6
2.8
Purchases of goods and services
National defense
Other....,
•'_.
Gross national product
*36* 9
19.3
49.5
Federal Government expenditures
Transfer payments ...
To persons
To foreigners (net) _
230. 0
93.8 105.8 107.3
31.1 34.0 35.2
89.6
33.1
II
Table 16. —Implicit Price Deflators for Gross National Product (8.1)
191.6 199.1 198.2 199. 1 202.8 221.4 224.9
92.4
30.4
I
Index numbers, 1958=100
Billions of dollars
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax
accruals
.
Contributions for social insurance
IV
Seasonally adjusted
Seasonally adjusted at annual rates
Federal Government receipts. _
III
1972
. 96.5
75.1
21.5
Grants-in-aid to State and local governments
24.5
29.3
29.5
29.8
30.8
32.4
38.1
Net interest paid
14.6
13.6
13.6
13.6
13.3
13.1
13.8
Subsidies less current surplus of government enterprises
.
5.5
5.2
5.1
4.6
5.0
5.6
6.0
Less: Wage accruals less disbursements
.0
.0
0.
.0
.1
.0
-.1
-
82. 0
^•f
Gross private domestic investment
Residential structures
Nonfarm
_. _ _ _ _ .
Farm
Change in business inventories
f,u. 2n
Net exports of goods and services _ . _ _
120.5 125.8 125.8 125. 9 126. 3 127.4 129.1
118.6 124.5 123. 8 125.4 126. 0 128.0 131.9
Exports
Imports
Surplus or deficit (— ), national in11 c
come and product accounts.
-12. 9 -21.7 -23.0 -23.1 -24. 7 -14.8 -21.6 —11.6
Government purchases of goods and
services
- 157.6 169.1 169.2 169.7 170. 7 175.4 176.6
149.2 160.8 161. 3 160.5 161.5 168.2 169.9
. .165.0 175.7 175.4 177.1 178.0 181.0 181.9
130. 1
134.3
179.2
173. 4
183.6
State and local _.
•
Table 14.— State and Local Government Receipts and Expendil ,^1-f^ . , '
(3.3,3.4)
Table 17.—Implicit Price Deflators for Gross National Product by
Major Ty pe of Product (8.2)
State and local government receipts
135.0 151.8 150.1 154.0
Personal tax and nontax receipts
24.3 27.4
Corporate profits tax accruals
3.8 4.2
Indirect business tax and nontax
accruals.
74.1 81.4
Contributions for social insurance. . . 8.3 9.4
Federal grants-in-aid
24.5 29.3
27.1
4.3
174.6
173.4
30.6
4.7
32.1
4.9
32. 0
5. 2
86. 8
10.2
32.4
89.0
10.5
38.1
91.2
158.7 164.8
27.7
4.3
29.2
4.1
80. 1 82.6
9.2
9.5
29.5 29.8
84.8
9.8
30.8
State and local government expenditures.
132.1 147.0 145.2 147.8 152.7 157.7 159.9
Purchases of goods and services _
122.5 135.0 133. 3 135.7 140.2 143.7 146.0
Transfer payments to persons
14.1 16.6 16.3 16.7 17.2 17.8 18.1
Net interest paid _ _
-.5 —.1 -.1 -.1 -.1
.0
.0
Less: Current surplus of government
enterprises
_
4.0
4.3 4.3 4.3 4.3 4.4
4.4
Less: Wage accruals less disburse.0
.2
.0
.3
.4 -.6
Surplus or deficit (— ), national income and product accounts. .
2.8
4.8
5.0
6.2
6.0
7.1
14.8
34. 4
135.23 141. 61 141.34 142.35 142.88 144.68 145.34 146.21
135.3 141.6 141.5 142.3 142.8 144.7 145.4 146.4
Gross national product
Final sales
Goods output
115.6 119.0 119.5 119.3 118. 4 119.5 119.9 120. 4
127.1 130.7 130.5 131.1 131. 6 132.9 133.6 134.6
164. 0
Services
150.1 159.4
150. 2
18.4
— .1
Structures
149.7 159.9 159.2 162.0
161.6 163.8 165.0
166.2
162.9 167.1 168.8 170.4
108.1 112.5 115.2 112. 1 108.3 112.1 112.3 113.3
Table 18. —Implicit Price Deflators for Gross National Product by
Sector (8.4)
Gross national product .
Table 15. — Sources and Uses of Gross Saving (5.1)
158.6 160.4
Addendum:
P
9.4
127.7 128.4
122.3 125.8 125.9 126.1 126.1 127.2
Durable goods
Nondurable goods
135.23 141. 61 141. 34 142.35 142.88 144.68 145. 34 146. 21
130.31 135.91 135.69 136.63 136.98 138.40 139.00 139.77
Gross private saving
Personal saving
Undistributed corporate profitsCorporate inventory valuation adjustment
Corporate capital consumption
allowances
..
Noncorporate capital consumption
allowances __ _
Wage accruals less disbursements--
152.2 170.8 172.8 171.5 176.5 171.6 174.9
175 9
50.1
25.3
50 8
27.2
-4.4 -4.7 -4.4 -5.8 -3.9 -6.5 -5.5
-6.1
54.9
15.4
60.9
20.5
64.1
20.4
61.0
21.0
59.3
22.7
55.7
23.5
55.2
60.3
59.4
61.2
63.0
64.8
68.0
68. 4
31.2
.0
33.5
.4
33.1
.2
33.8
.3
34.4
.9
34.9
-.8
37.3
-.3
35.8
~'1
Government surplus or deficit ( )
national income and product
accounts..
-10.1 -16.9 -18.0 -16.9 -18.7 -7.7 -6.9 -2.2
Federal...
-12.9 -21.7 -23.0 -23. 1-24.7 -14.8 -21.6 -11.6
State and local. _
9.4
2.8 4.8
5.0
6.2
6.0
7.1 14.8
Capital grants received by the United
States.
7
.9
.7
.7
.7
.7
.7
.7
Gross investment
138.3 149.8
150.5 149.5 153.4 160.5
168.7
Gross private domestic investment.. 137.1 152.0 153.0 152.2 158.8 168.1 177. 0
Net foreign investment _ _ _ . _ .
1.2 -2.1 -2.5 -2.7 -5.4 -7.7 -8.3
Statistical discrepancy ..
' See footnote on page 13.
-4.7 -4.8 -4.9 -5.9 -5.2 -4.1
-.1
176.7
183 2
65
22
Business
Nonfarm
Farm
129.0 134.3 134.2 135.0 135.3 136.7 137.2 137.9
129.4 134.9 134.8 135. 6 135.6 136. 8 137.2 137.6
117. 0 120.8 118.8 120.6 128.1 134. 1 137.2 147.7
Households and institutions _.
185. 5 200.7
General government
188.8 205.7 204.6 206.4 210.1 217.5 220.7 223.1
Table 19.— Gross National Product: Change from
Period (7.7)
Percent at annual rate
Percent
Gross national product:
Current dollars. _ . _
Constant dollars
Implicit price deflator. _
.Chain price index
Gross private product:
Current dollars
Constant dollars
Implicit price deflator
Chain price index
...
Preceding
5.0
-.5
5.5
5.3
7.6
2.7
4.7
5.0
7.9
3.4
4.4
4.6
5.4
2.5
2.9
3.4
8.3
6.7
1.5
2.1
12.0
6. 5
5.1
5.6
11.4
9.4
1.8
2.7
8.9
6.3
2.4
3.1
4.3
-.5
4.8
4.7
7.4
3.0
4.3
4.5
8.2
3.7
4.3
4.4
5.4
2.5
2.8
3.4
8.3
7.2
1.0
1.4
11.6
7.1
4.2
4.4
12.1
10.2
1.7
2.3
8.9
6.5
2.2
2.9
By JACK J. GOTTSEGEN
GNP by Major Industry in 1971
i
,N recent years, the April issue of the
SURVEY has contained preliminary estimates and a brief discussion of the industrial origin of the gross national
product; the July issue has carried
revised estimates in more detail. This
year, data problems made it impossible
to prepare preliminary estimates in
April but the detailed estimates were
published in July (national income
tables 1.21 and 1.22). This article is
intended to summarize these data and
bring them to users' attention.
Gross product originating in an
industry is a measure of the industry's
contribution to GNP, i.e., to the
Nation's total output of goods and
services. An industry's gross product,
its value added, may be measured as the
difference between the value of the
industry's total output and the cost of
materials and business services purchased by the industry. The same total
may also be calculated by summing
the industry's payments to the factors
of production (employee compensation,
profits, etc.) and its nonfactor costs
(depreciation, property tax, sales tax,
etc.).
The market value of the Nation's
total output of goods and services
(GNP) increased $74 billion in current
dollars in 1971, or 7.6 percent. The overall price advance was 4.7 percent and
the real output gain was only 2.7 percent. The real output gain was wholly
in the private economy, since the gain
in State and local general government
activity was offset by the decline in
the Federal sector.
The 1971 advance in real output was
sharper than that in 1961, the last
previous year of cyclical recovery, but
16
CHART 7
considerably milder than the gain in
1959, also a recovery year. The price
advance in 1971 was at least three times
faster than in 1961 or 1959. Unit labor
and nonlabor costs also rose faster in
1971 than in the other 2 recovery years,
but profit margins for most industries
nevertheless also increased more than
in the other 2 years. Some of these
differences between 1971 and the previous 2 recovery years are attributable
to the fact that the 3 years are not
identical in terms of business cycle
chronology as measured by the reference
cycle dates of the National Bureau of
Economic Research.1
Real output of the total private
economy increased 3 percent from 1970
to 1971, but there was great diversity
within that aggregate: output changes
in the 10 major industrial divisions
ranged from a decrease of 2.6 percent
for mining to an increase of 6.6 percent
for the utilities, i.e., communications,
and electric and gas industries (chart 7).
The aggregate price increase in the total
private economy was 4.3 percent, but
price increases for industrial divisions
ranged from 1.8 percent in manufacturing to 7.3 percent in transportation. An even wider diversity is observed in industry unit labor costs and
profit margins. This article highlights
the 1971 changes in industry output,
prices, and unit costs and profits and
relates them to average 1960-70 changes
and to changes in 1961 and 1959, the
two previous recovery years.
Percent Change in Real Output by Industry:
1971 Compared to 1960-70 Average
Percent
0
4
ALL INDUSTRIES
1971
1960-70 Annual
Industries with 1971 change larger than
1960-70 average
Electric, Gas, and
Sanitary Services
Agriculture, Forestry,
and Fisheries
Contract Construction
Industries with 1971 change close to
1960-70 average
Wholesale and
Retail Trade
Finance, Insurance, and
Real Estate
Industries with 1971 change well below
1960-70 average
Communications
Transportation
Manufacturing
Services
Government and
Government Enterprises
1. The most recent cyclical trough was in November 1970.
The two preceding troughs were in February 1961 and April
1958. Thus, the 1961 recovery began during calendar 1961
rather than before that year, while calendar 1959 was a year
in which the recovery was more advanced and mature than
was the case in 1961 or 1971.
8
Mining
U.S. Department of Commerce, Bureau of Economic Analysis
1 2
SuJiVEY OF CURRENT BUSINESS
November 1972
Real product
The 1971 increase in real output of
manufacturing, which accounts for
about one-third of total private output,,
was 1.7 percent, well below the 3 percent increase for the private sector as
a whole (table 1). The 1971 increase in
manufacturing output was also considerably less than its average annual
gain of 4.6 percent in the 1960-70 span.
Real output in nondurable goods
manufacturing increased 4 percent in
1971, about the same as the 1960-70
average, with sizable gains in the textile,
apparel, chemical, and rubber and
plastics industries. On the other hand,
aggregate output of the durable goods
industries was unchanged from 1970 to
1971, compared to an annual average
gain of about 4% percent in the 1960's.
The 1971 stability reflected the curtailment of defense spending and sluggish growth of business fixed investment
that offset a record year for auto production as well as increases in the stoneclay-glass, lumber, and the furniture
17
activity and strikes by dockworkers,
and the air transport industry showed a
gain of only 3 percent, far below the
average for the 1960's. However, the 6.6
percent gain recorded in 1971 for the
motor freight industry was higher than
its 1960-70 average of 5.6 percent.
Despite the below-average output
gain in the goods producing industries,
the 1971 increase in trade output was a
relatively strong 4 percent. This
strength can be attributed in part to the
fairly strong growth of nondurable
goods output, to the sizable decline in
manufacturers' inventories, and to large
gains in merchandise imports. The
implication of the latter two factors is
that the movement of goods through
trade channels was stronger than that
suggested by the growth of gross
output.
Output of the finance and insurance
industries increased 7.7 percent in 1971,
the largest increase for any industry
group and more than twice its 1960-70
average. However, when the real estate
industries, whose markets were bolstered by the boom in residential
construction.
The 1960-70 average growth rates for
the mining, farming, and contract construction industries were all below the
average for the private economy. In
1971, mining output declined, but the
gains for farming and contract construction were stronger than their 196070 averages. Indeed, the 1971 gain in
farm output exceeded the gain for the
total private economy.
The 1971 gain in the output of the
goods producing industries as a group
(agriculture, forestry, fisheries, mining,
contract construction, and manufacturing) was only 1.6 percent. This
below-average advance partly explains
the comparatively small increase for the
transportation industry, where fluctuations in activity generally correspond
closely to those in the goods producing
industries. Output of the rail and water
transportation industries also declined
in 1971 as a result of weak mining
Table 1.—Gross Product in Constant Dollars By Industry: Selected Years
Average
annual rate
of change 2
Percent change from previous year
Billion of 1958 dollars
Industry
1971
All industries, total (GNP)
....
1961
1971
1959
1960-70
1959
1961
741.7
497.2
475.9
2.7
1.9
6.4
4.0
26.9
25.5
23.4
22.2
22.3
21.1
3.1
3.3
1.3
1.3
1.1
1.2
1.3
1.3
Mining
16.8
13. 3
12.8
-2.6
.9
4.0
2.8
Contract construction
24.0
21.4
22. 0
2. 0
-1.5
6.6
.9
221.4
95.7
125.8
140.4
60.7
79.7
138.9
59.0
79.9
1.7
4.0
.0
-.3
1.3
-1.5
12.4
9.2
14.8
4.6
4.4
.4.7
35.1
10.4
13.2
22.5
8.7
7.5
22.2
8.9
7.0
2.0
-2.3
6.6
.1
-.8
3.3
6.1
5.2
9.9
4.4
2.1
5.6
23.3
22.0
10.6
9.7
9.5
8.6
6.6
6.5
5.7
6.3
7.1
7.9
8.1
8.5
22.5
12.9
11.6
6.6
4.6
8.0
5.5
131.9
58.1
73.7
83.5
34.6
48.9
80.8
32.2
48.6
4.0
4.0
4.0
1.5
4.5
-.5
7.6
9.6
6.3
4.4
5.4
3.8
98.8
21.0
67.1
15.4
61.4
14.3
3.4
7.7
4.7
3.2
3.7
.0
4.1
2.8
69.5
48.3
45.1
1.1
3.5
5.2
3.9
.0
.0
2.8
2.5
1.3
1.0
3.6
3.3
3.0
2.8
1.9
1.8
7.0
7.4
4.2
4.2
Agriculture, forestry & fisheries
Farms
.. . .
.
Manufacturing
Nondurable goods industries.-.
Durable goods industries
.
.
Transportation
Railroads
Motor freight & warehousing
Communication.Telephone & telegraph
...._
E lee trie, gas , & sanitary services
._.
Wholesale & retail trade
Wholesale trade
Retailtrade
Finance, insurance, & real estate
Finance & insurance
. _, _
_. .
.
_
Services
Government & government enterprises.
General government
_ __
Rest of the world
70.0
60.7
50.6
44.8
47.9
42.5
5.6
2.9
2.2
Residual 1
-4.3
.1
-.9
Addenda:
Private sector
Private nonfarm business ~ _
681.0
633.0
452.3
414.8
433.4
398.4
1
Represents the difference between GNP measured as sum of final products and GNP
measured
as the sum of gross product originating by industries.
2
Arithmetic average of the 10 annual percent changes.
NOTE:—Data for 1947-71 in current and constant (1958) dollars as well as indexes of the
487-759 O - 72 - 3
constant dollar series and industry implicit price deflators (1958=100) appear in the July 1972
SURVEY and in the other data sources listed on page 12 of that issue.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
18
SUEVEY OF CURBENT BUSINESS
industry is included, the 1971 gain for
the industry division is 3.4 percent,
close to the 1960-70 average of 4.1
percent.
The communications industry and the
electricj gas, and sanitary service industries have been noted for vigorous output growth in the 1960's and they
outpaced the private economy again
in 1971, as output of both industry
groups increased 6.6 percent. In the
communication industry, however, the
1971 increase was less than the industry's 1960-70 average, while the
1971 increase for the utilities was above
the 1960-70 average.
Output of the service industries increased only 1.1 percent in 1971, considerably less than the annual average
of 3.9 percent in the 1960's. Output
declined in 1971 for hotels, personal
services (laundries, barber, beauty,
cleaning and pressing shops), business
services (advertising, employment agencies, and business consultants), and the
professional business services such as
engineering, architectural, and accounting services. These declines almost completely offset increases for automobile
repair shops, amusement places, and
medical and other health services.
Industry patterns during the 3 recovery years 1971, 1961, and 1959 were
generally quite different. One reason for
such differences is differences in the
stage of the cycle within each year. In
1961, for example, the recovery began
during the year; markets for autos and
November 1972
producers' durable equipment were
weak, and for the year as a whole output of the durable goods industries declined 1.5 percent, while output of the
nondurable goods industries increased
only a modest 1.3 percent. In 1959,
when recovery was more fully established, output of both the durable goods
and nondurable goods industries increased sharply, and total manufacturing of output increased 12.4 percent.
to a 1960-70 annual average of 2.7 percent. For the private sector, the deflator rose 4.3 percent in 1971, compared
to an average 2.4 percent for the 1960's
(see accompanying text table).
The implicit price deflator for manufacturing gross product increased 1.8
percent in 1971 (table 3). This was the
smallest price increase for any industry
division in the private sector, which is
consistent with the fact that the 196070 trend for manufacturing was well
below
that for the private sector. In
Price changes
1961, the manufacturing price increase
The implicit price deflator for total was also among the lowest but in 1959
GNP rose 4.7 percent in 1971, compared its rise exceeded the private sector
average. The implicit deflator for nonAverage Annual Rate of Change in Implicit
Price Deflators of Gross Product by Indurable goods manufacturing declined
dustry, 1960-70
fractionally in 1971 but the deflator
for durable goods rose 3.5 percent. Such
Average
rate 1
a marked difference between durables
and nondurables manufacturing is unAll industries, total.
2.7
usual, and is not seen in 1961, in 1959,
Agriculture, forestry and fisheries2.7
2.4
Farms
.1 nor in the 1960-70 trend.
Mining
Contract construction
,
6.6
1.2
Manufacturing
The overall deflator for all modes of
1.0
Nondurable goods industries. _.
1.3
Durable goods industries
transportation showed an increase of
Transportation.. _
1.1
7.3 percent in 1971, the largest in the
-.3
Railroads.
1.4
Motor freight and warehousing—.
private sector. The extreme sharpness
.0
Communication
.-_..._-._
-.3
Telephone and telegraph
of this increase did not conform with the
.4
Electric, gas, and sanitary services.
2.5
Wholesale and retail trade
changes in 1961 and 1959 nor with the
Wholesale trade
1.8
3.1
1960-70 trend. A 1971 increase of 12.3
Retail trade.
3.2
percent in the implicit deflator for
Finance, insurance, and real estate
4.9
Finance and insurance
4.5
railroads was the principal factor conServices
. ..
.
----5.4
Government and government enterprises.
5.7
General government
tributing to the large increase in the
Addenda:
overall
transportation deflator. In 1961
2.4
Private sector.
^
Private nonfarm business.
2.3
and 1959, the rail deflator declined, and
the
1960-70 trend was also negative.
1. Arithmetic average of the 10 annual percent changes.
Table 2.—Annual Percent Changes in Unit Labor Cost and Unit Profit, By Industry: Selected Years
Unit profit
Unit labor cost
Average
annual
rate 1
Percent change from previous year
Industry
1971
1960-70
1959
1961
Average
annual
ratei
Percent change from previous year
1961
1971
1960-70
1959
3.0
3.0
7.5
0.1
1.3
-2.7
1.9
.1
-1.7
2.9
2.6
1.3
5.4
4.2
-4.5
-0.5
.4
2.7
4.0
-13. 9
-11.7
-0.4
1.0
-1. 0
Contract construction
Manufacturing
Transportation
6.9
.8
5.7
3.9
.6
— 9
2.1
-1.1
1.0
7.0
1.8
1.1
3.2
9.9
67.3
8.0
-5.3
6.6
-2.5
24.0
10.7
4.8
-3.1
-7.3
Communication
Electric, gas, & sanitary services
Wholesale & retail trade ___
3.0
2.7
3.3
-1.9
.4
.6
-1.8
-2.2
.1
.1
1.0
2.7
-6.0
-3.6
5.5
.7
-1.2
3.4
11.6
6.6
4.5
-4.4
-4.7
-•4
6.9
7. 6
2.7
2.1
4.9
2.9
4.2
5.3
5.7
3.8
-4. 3
2.9
2.4
4.6
.2
2.6
Private sector
Agriculture, forestry &
Mining
Finance, insurance, & real estate
Services
fisheries.
_
... . .
1. Arithmetic average of the 10 annual percent changes.
__
. . ...
Source: U.S. Department ef Ccmmerce, Bureau of Economic Analysis.
November 1972
SUEVEY OF -CURRENT BUSINESS
19
The movement of the implicit price industries but well above their own taxes, capital consumption allowances)
per unit of output increased 6 percent
deflator for railroads, which operate 1960-70 averages.
in the aggregate in 1971, compared
with large fixed costs, is influenced by
with a 4.2 percent increase in 1961 and
the relationship among movements in Unit costs
rates, movements in prices of materials
The large size of the 1971 price ad- a slight decline in 1959.
For most industries, the 1971 inand services bought on current account, vances partly resulted from the pressure
and volume of activity. In 1971, of rising unit costs. Despite output crease in unit labor costs was larger
passenger and freight rail rates in- gains and a slight decline in man- than the 1960-70 average increase. In
creased an average of 8.7 percent and hours, unit labor cost in the private manufacturing, however, the 1971 in11.6 percent, respectively, while costs economy rose 3 percent in 1971 (table crease was only 0.8 percent, considerof purchased goods and services rose 2). This advance was about equal to ably less than the 1960-70 average of
only 4 percent. The volume of rail the average increase in the period 1.8 percent. Increases of over 5 perfreight declined sharply in 1971.
1960-70, but much larger than the in- cent occurred in services, mining, concreases
in the recovery years 1961 and tract construction, finance, insurance,
The annual price advances for con1959.
Nonlabor
costs (interest, business and real estate, and transportation.
tract construction have generally been
among the highest in the private sector,
and the 1960-70 average of 6.6 percent
Changes From Previous Year in Implicit Deflators,
per year was well above the private Table 3.—Amount and Distribution oi by
Industry
sector average of 2.4 percent. In conPercentage point distribution of price change
trast to other industry deflators, the
Per cent change
Industry and year
in implicit
deflator for the construction industry,
Unit nonlabor Unit profit 2
Unit labor
price deflator
cost i
cost
generally, measures the costs of inputs
rather than outputs. Considering this Private sector:
0.8
2.4
1.1
1971
_.
4.3
limitation, the 1971 gain in the deflator
.2
.2
.9
.5
-1961.—
—.
_.___-_.
.4
1959...
1.4
.7
.3
for construction was 6.7 percent, comforestry & fisheries:
pared to a private sector figure of 4.3 Agriculture,
1.5
1971
1.3
3.3
.5
.4
.2
.7
.1
1961..
percent.
-1.8
1959
-.9
Other 1971 price gains well above the Mining:
1.2
1.1
1971
1.5
private sector average occurred in the
I
1961
-1.8
1959...
-1.7
-1.3
service industries and in finance, inconstruction:
surance j and real estate. The 1971 Contract
1.0
1971
5.1
6.7
.8
1961
_.
3.5
4.7
advance for the service industries was
.2
1959
1.2
6.8 percent, compared to a 1960-70 Manufacturing:
2
1971
1.8
1.3
average of 4.5 percent. For finance,
.1
.2
1961...
---.-__
.2
1.1
1959
1.6
insurance, and real estate, the 1971 gain
was 5.9 percent while the 1960-70 Transportation:
.1
2.0
1971
...
5.2
7.3
.2
.2
.5
1961.
.8
average was 3.2 percent. In both 1959
-.2
1959...
-.7
-.5
and 1961, the price gains for these Communication:
1.1
1.5
1971
3.2
groups also were larger than for the
.1
.1
1961.
1.3
1959
2.5
private sector.
Electric, gas, & sanitary services:
Movements of the price deflator for
1.9
1971...
3.8
1.3
.3
.2
1961
.7
the trade industries approximated those
.4
1959
1.1
.4
of the overall private deflator in 1971, Wholesale & retail trade:
.7
1.2
1971
4.5
2.6
in 1961 and 1959, and the period 1960.3
.4
1.0
1961
1.7
.3
.3
1959
1.5
70. The implicit deflator for retailing
Finance, insurance & real estate:
has generally advanced more sharply
(Includes data for owner occupied nonfarm dwellings)
1.8
2.8
1971.
._........
_
5.9
1.3
than that for wholesaling, and this was
.5
.5
1.2
.3
1961
..—
•— — .—•—
1.5
1.3
3.4
.7
1959....
_•
true also in 1971 as the deflator for
(Excludes data for owner occupied nonfarm dwellings)
1.7
retail trade rose 5 percent and that for
1.6
1.8
1971
5.1
.6
.3
1.4
.5
1961
2.1
wholesale trade rose 3.9 percent. The
1.0
1.4
4.5
1959
1960-70 averages were 3.1 percent and Services:
1.6
4.4
1971
1.8 percent, respectively.
.6
2.4
1961
1.5
1.0
2.1
1959
3.5
The 1971 price advances for the
1. Includes capital consumption allowances, interest, indirect business taxes, and business transfer payments.
regul ated
in dus tries—communication
2. Profit type income consists of corporate profits after inventory valuation adjustment, proprietors' income after invenvaluation, rental inome of persons, and, less government subsidies: Other agencies, such as the Bureau of Labor Statistics,
and electric and gas utilities—were 3.2 tory
allocate a portion of proprietors' income to compensation. When this is done the percentage distributions differ from those
above.
percent and 3.8 percent, respectively, shown
3. Less than 0.05 percentage points. ±.
considerably smaller than for most
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
20
SUEVEY OF CURKENT BUSINESS
Unit labor costs in the communication
Aside from transportation, which had
industry increased 3 percent, in sharp a huge increase, the largest 1971 incontrast to the 1960-70 average (only crease in profit margin was in manu0.1 percent) and to the declines in the facturing. The margin for the nonduother 2 recovery years. The largest point rable goods industries declined but the
differences between the 1971 increase durable goods industries had a very
in unit labor costs and the 1960-70 sharp increase that was partly a reaverage increase were in the transpor- bound from a steep drop in 1970, tracetation and mining industries, which able to that year's auto strike.
had little if any output gain in 1971;
The huge increase in overall profit
the smallest point differences were in margin for the transportation induscontract construction, agriculture, and tries was based on widely divergent
trade, where 1971 output gains equaled changes within that industry group. The
or exceeded the 1960-70 trend.
margin for motor freight increased, and
losses in the rail and air transport inUnit profits
dustries were smaller than in 1970
Despite the increases in unit labor (i.e., "negative margins" declined).
and nonlabor costs, profit margins Losses in water transportation, how(profits per unit) rose in 1971 for the ever, were much larger than in 1970.
first time since 1966. The overall increase for the economy was 5.4 per- Impact on prices
cent, larger than the increase in 1959.
Table 3 shows the price change for
The average movement in the 1960's each industry distributed into three
was downward, and the year 1961 also major elements—unit labor cost, unit
saw a decline.
nonlabor cost, and unit profit. For
Relatively large increases in profit example, of the 1.8 percent price
margins were not necessarily associated increase in the implicit deflator for
with relatively small increases in unit manufacturing gross product in 1971,
labor costs. For example, in the com- 1.3 points were associated with unit
munication and electric and gas utility labor costs. 0.3 points with unit nonindustries, unit labor costs increased
labor costs, and 0.2 points with unit
less in 1971 than the average increase
for the private economy but profit profit. It is important to note that the
margins declined because of relatively point distribution is an after-the-fact
large increases in nonlabor costs and the measurement, and that such attriburelatively stable price structure that is tion of points to an element does not
mean that the element can be identified
characteristic of regulated industry.
November 1972
as having caused that amount of price
movement.2
In 1971, labor cost accounted for
2.4 points of the 4.3 percent change in
the private sector deflator. In most
individual industries, the point contribution from changes in unit labor
costs was also the largest of the three
elements. This was most marked for
the labor intensive industries, such as
services, construction, and transportation. In agriculture, the point contribution from unit labor cost was
relatively small principally because
farm proprietors' income, which is
classified as wholly profit-type income,
is the largest single component of
gross product.
Changes in unit nonlabor costs contributed 1.1 points to the 4.3 percent
rise in the private sector deflator. Since
capital consumption allowances are the
largest component of nonlabor cost, the
influence of nonlabor cost was most
marked in the capital intensive industries. In most industries, the share of
unit nonlabor cost in the price change
was about the same in each of the 3
recovery years. An exception is the
utilities; in 1959, unit nonlabor cost was
associated with 0.4 points of a price
change of 1.1 percent, while in 1961 and
1971 unit nonlabor cost contributed
about half of the deflator increase.
2. See the discussion on pages 10 fl. in "GNP by Major
Industries," by Martin L. Marimont, SUEVEY, October
1962.
By JULIUS N. FREIDLIN and LEONARD A. LUPO
U.S. Direct Investments Abroad in 1971
THE value of U.S. direct investments
abroad totaled $86.0 billion at yearend
1971, up $7.8 billion from yearend 1970
(table 2). The increase reflected both
large capital outflows from the United
States and large reinvestments of direct
investment earnings (table 1). Particularly big increases in the value of
investment were registered for manufacturing affiliates in the developed
countries and for petroleum affiliates in
other areas (table 2 and chart 8).
Direct investors' ownership benefits
measured on the broad earnings basis
totaled a record $12.6 billion in 1971
(table 3). The broad earnings basis sums and marketing and shipping affiliates in
the direct investors' receipts of divi- international.
dends, interest, branch earnings, and
royalties and fees from the affiliates plus Direct investment and U.S. corporate
balance of payment flows
the investors' share of affiliates' reTable 1 shows both the identifiable
invested earnings. Manufacturing affiliates in developed countries con- direct investment transactions and the
tributed $4.1 billion to the $12.6 billion other identifiable transactions of U.S.
broad earnings total and petroleum corporations. Although the corporate
affiliates in other areas contributed $3.6 data are not collected in a way that
billion. The total was up $1.7 billion allows transactions associated with difrom 1970, a record increase; the
growth centered in petroleum affiliates NOTE.—Statistical material for this article
was prepared under the general supervision
in "other areas", which includes crude of Richard L. Smith, with major assistproduction affiliates in developing areas ance from Gregory G. Fouch.
CHART 8
Annual Additions to Direct Investments Abroad by Major Area and by Industry of Affiliate
Billion $
(Ratio scale)
Billion $
101
10
-'All AREAS
DEVELOPED COUNTRIES
OTHER AREAS*
^ Other Industries
• I
1960
62
64
66
68
70
72
I960
I• \
62
\• I
64
I• i
66
i * 1 t •. I
68
70
I•
72
i
1960
62
64
66
68
72
70
* includes developing countries, and the international unallocated category.
U.S. Department of Commerce, Bureau of Economic Analysis
21
22
SUKVEY OF CURRENT BUSINESS
November 1972
Table 1.—U.S. Balance oi Payments Flows Related to Direct Investments Abroad and Other Corporate Transactions
[Millions of dollars]
Item and balance of payments
Line sign; debits (-), credits (+)
1
Net flow 2.
2 Change in corporate claims on
foreigners
3
Change in direct investment position
4
Balance of payments
capital flows
5
Reinvested earnings. ..
6
Adjustments 3
7
Change in other corporate
claims. -.
8
Long-term. .
Short-term:
9
Liquid
10
Nonliquid3 4.
_
Ad
j
ustments
11
12 Change in corporate liabilities
to foreigners
13
New issues of securities
sold abroad by
U.S.
corporations 5
14
Change in corporate liabilities other than new
issues:
15
Long-term 4
16
Short-term
17
Adjustments 3
18 Direct investors' ownership
benefits, broad earnings
basis. ...
19
Receipts of income on
U.S. direct investments .
20
Royalties and fees
21
Dividends and interest
...
. _
22
Branch earnings
_ .
23
Reinvested earnings. _ .
3
24 Offset to adjustments
All areas
1969 r
1971 '
1970 r
Other areas l
Developed countries
1969'
1970 r
1971*
1969 '
1970 '
Change 1970-71
Developed
countries
All areas
1971 »
Other
areas
5,755
6,131
4,940
2,985
3,641
2,309
2,770
2,490
2,631
-1,191
-1,332
-6,966
-7,454
-8,959
-4,889
-5, 116
-5,898
-2,076
-2,338
-3,060
-1,505
-782
-6, 050
-7, 145
-7, 823
-4, 386
-5, 259
-5, 201
-1, 663
-1, 886
-2, 621
-678
57
-3, 254
-2, 604
-192
-4, 400
-2, 948
204
-4, 765
-3, 116
58
-2, 129
-2, 134
-123
-3, 238
-2, 075
54
-2, 824
-2, 375
-1
-1, 125
-469
-69
-1, 162
-874
150
-1, 941
-741
60
-365
-168
-146
414
-300
-55
-779
133
-90
-309
-300
-1,136
-109
-503
-222
143
-96
-697
-24
-413
-202
-452
-204
-439
-85
-827
191
-840
72
13
119
371
-301
-562
351
-360
-506
-521
361
-257
-385
421
-182
-379
-294
10
-44
-177
-70
-178
-127
-227
-857
-161
-800
-112
-57
-49
2,128
3,364
1,635
1,959
3,044
1,368
169
320
267
-1,729
-1,676
-53
1,029
822
1,173
1,029
822
1, 173
351
351
1,099
701
293
105
2,542
1,112
987
443
462
233
-20
249
930
654
253
23
2,222
1,004
775
443
195
150
-204
249
169
47
40
82
320
108
212
267
83
184
-2,080
-879
-1, 007
-194
-2,027
-854
-979
-194
-53
-25
-28
9,944
10,868
12,571
5,430
6,210
7,087
4,513
4,658
5,484
1,703
877
826
7,340
1,682
7,920
1,919
9,455
2,169
3,296
1,212
4,135
1,403
4,712
1, 599
4,044
469
3,784
515
4,743
570
1,535
250
577
196
959
55
3,084
2,574
2,604
649
3,550
2,451
2, 948
-647
4,156
3,130
3,116
-307
1,856
228
2,134
485
2, 402
330
2,075
-497
2,637
476
2,375
-248
1,228
2,347
469
164
1,148
2,121
874
-150
1,519
2, 654
741
-60
606
679
168
340
235
146
300
249
371
533
-133
90
-916
-424
5
r
Revised.
*> Preliminary.
1. Other areas includes developing countries and international, unallocated.
2. Lines 2+12+18+24.
3. These adjustments to the international investment position of the United States do not
enter the balance of payments flow figures. The line 6 adjustment is for any difference between
values realized by the U.S. reporter on sale or liquidation of the foreign affiliate, and the value
of the reporter's equity as shown on the books of the foreign affiliate. The adjustments in
lines 11 and 17 reflect changes in the value of outstanding amounts of other U.S. claims or
liabilities, because of changes in price and in foreign currency values vis-a-vis the dollar; these
141
-722
-735
lines also reflect adjustments for changes in coverage and for new benchmark surveys of assets
and liabilities.
4. Excludes brokerage claims and liabilities.
5. Excludes funds obtained abroad by U.S. corporations through bank loans and other
credits and also excludes securities issued by subsidiaries incorporated abroad. However,
securities issued by finance subsidiaries incorporated in the Netherlands Antilles are treated
as if they had been issued by U.S. corporations to the extent that the proceeds of such issues
are transferred to U.S. parent companies.
6. Excludes an increase in U.S. corporate long-term claims of $286 million that was associated with increased foreign direct investment in the United States.
Table 2.—Additions to U.S. Direct Investment Position and Components oi Financing, by Area and Industry: Amount and Change From
Preceding Year
[Millions of dollars]
Item and year
All
industries
Petroleum
Other areas *
Developed countries
All areas
Line
Manufacturing
Other
Petroleum
All
industries
Manufacturing
All
industries
Other
Manufacturing
Petroleum
Other
Direct investment position:2
1
2
3
4
5
Additions in 1971*
Additions in 1970'r
Additions in 1969
Change, 1970-71
Change, 1969-70.
7,823
7,145
6,050
2,544
1,832
995
3,215
2,734
3,113
2,065
2,579
1,942
5, 201
5,259
4,386
1,231
1,261
541
2,717
2,399
2,652
1,253
1,599
1,193
2,621
1,886
1, 663
1,313
571
454
496
335
461
812
980
48
678
1,095
712
837
481
-379
-514
637
-57
872
-30
720
319
-253
-346
404
735
223
742
117
161
-125
-167
32
4,765
4,400
3, 254
1,940
1,460
919
1,468
1,295
1,160
1,357
1,645
1, 175
2,824
3, 238
2,129
956
1,055
447
1,225
1, 185
955
644
997
727
1,941
1,162
1,125
983
405
471
243
109
206
715
648
448
365
1,146
480
541
173
135
-288
470
-414
1,109
-99
608
40
230
-353
270
779
37
578
-66
134
-97
67
200
3,116
2,948
2,604
616
425
-59
1,785
1,534
1, 939
716
989
725
2,375
2, 075
2,134
266
205
-52
1,508
1,252
1, 665
602
618
522
741
874
469
350
221
277
282
274
114
371
203
168
344
191
484
251
-405
-273
264
300
-59
61
257
256
-413
-16
96
-133
405
129
228
-5
8
-257
168
146
-396
42
-188
55
-109
50
-98
55
-177
7
-144
22
-69
26
36
90
-219
35
44.
32
-41
24
-135
Net capital outflows from
United States :3
6
7
8
9
10
1971 v
1970'
1969.
Change, 1970-71
Change, 1969-70
Reinvested earnings:1
11
12
13
14
15
1971^
1970' _ .
1969-
Change, 1970-71
Change, 1969-70.
Adjustments:
16
17
5
Change, 1970-71.
Change, 1969-70.
' Revised.
*> Preliminary.
1. Includes developing countries and international, unallocated.
2. Lines 1, 2, and 3 correspond to appropriate column detail for line 3 in table 1.
y
3. Lines 6, 7, and 8 correspond to appropriate column detail for line 4 in table 1.
4. Lines 11,12, and 13 correspond to appropriate column detail for line 5 in table 1.
5. Lines 16 and 17 correspond to appropriate column detail for line 6 in table 1.
November 1972
rect investment to be separated from
other corporate transactions, it is
likely that much of the movement in
these other corporate claims and liabilities is in fact associated with direct
investment. It is for this reason that
the data are brought together in table 1.
The net flow shown in table 1 indicates
the identifiable impact that all these
transactions have on the U.S. balance
of payments on the official reserve transactions basis. However, this figure is
SUKVEY OF CURRENT BUSINESS
23
not coterminous with the balance of
payments impact of direct investments.
For one thing, some of the international
transactions reported by U.S. corporations, such as trade credits, are in fact
not associated with direct investment
activities. Also, some of the important
balance of payments effects of direct
investment, such as exports and imports associated with direct investment
and interest payments to foreign holders
of U.S. corporate debt associated with
direct investment, are not shown because adequate data on the role of U.S.
direct investors in these accounts are
lacking.
The identifiable U.S. corporate transactions shown in table 1 had a net
favorable impact on the U.S. balance of
payments of $4.9 billion in 1971 (line 1).
This was $1.2 billion less than the comparable figure in 1970. Acceleration of
direct investment in affiliates had an
adverse impact of $0.7 billion on the
Table 3.—Alternative Measures of Return on U.S. Direct Investments Abroad, by Area and Industry
[ Millions of dollars or percent]
All areas
Line
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
. \
28
29
30
31
32
33
Other areas x
Developed countries
Item and year
Petroleum
Manufacturing
418
315
256
2,654
2,121
2, 347
2,322
1,760
1,844
40
37
38
291
323
465
1,370
1,293
851
601
512
446
1,381
1,026
1,118
787
570
571
241
248
199
352
208
348
24
23
42
214
206
173
81
69
65
129
118
85
48
43
11
53
51
52
27
24
22
2,375
2,075
2,134
266
205
-52
1, 508
1,252
1,665
602
618
522
741
874
469
350
221
-7
277
282
274
114
371
203
223
177
171
484
453
391
135
142
96
194
188
168
156
123
126
138
122
110
31
22
20
39
47
45
68
53
44
1,116
1,002
868
794
701
619
1, 599
1, 403
1,212
125
96
87
957
859
737
516
448
389
570
515
469
134
120
107
158
143
132
278
253
231
3,982
2,935
2, 452
3,759
3,416
3, 287
2,487
2,439
2,388
5,324
4, 652
4,108
474
342
65
3,148
2,797
2,723
1,702
1,514
1, 320
4,904
4,137
4,020
3,508
2,593
2,387
611
619
564
785
925
1,069
10,402
8,949
8,261
4,076
3,034
2,577
3,725
3,392
3,275
2,602
2,523
2,410
5,489
4,807
4, 218
585
461
149
3,128
2,779
2, 719
1,777
1,568
1,350
4,914
4,143
4,044
3, 491
2,573
2,428
597
614
557
825
955
1,060
12, 571
10, 868
9,943
4,335
3, 250
2, 771
4,841
4,394
4,144
3,396
3, 224
3,029
7, 088
6, 210
5,430
710
557
236
4,085
3,638
3,456
2,293
2,016
1,739
5,484
4,658
4,513
3,625
2,693
2,534
755
757
689
1,103
1, 208
1, 291
9,455
7, 920
7,339
3,719
2,825
2,831
3,056
2,860
2,205
2,680
2,235
2,305
4,712
4, 135
3,296
444
352
288
2,577
2, 386
1,791
1,691
1,398
1,217
4,743
3, 784
4,044
3,275
2, 472
2,542
478
475
415
989
837
1,088
13.3
12.6
12.7
18.8
15.3
13.6
11.5
11.5
12.4
14.4
15. 8
12.2
10.3
10.0
9.7
5.0
4.4
1.5
11.7
11.4
12.5
16.1
16.1
11.4
19.6
17.9
18.8
34.9
27.3
27.1
10.9
11.9
11.9
8.6
11.1
13. 5
Petroleum
Manufacturing
3,130
2,451
2, 574
2,325
1,731
1,781
96
82
72
-
3,534
2,975
2,583
969
714
739
C. Foreign withholding taxes:
1971 v
1970 r
1969
_.
448
416
365
A. Branch earnings:
1971 v
1970 '
1969
B. Dividends:
1971 v
1970 r
1969.
D. Reinvested earnings:
1971 * .
1970 r
1969 .
E. Interest: 2
1971 P
1970 r _
1969
F. Royalties and fees:
1971 »_
1970 r
1969
G. Measures of return,
dollars:
Earnings 3:
1971 J>
1970 r.._. .
1969
Adjusted earnings 4:
1971 P
1970 r
1969
Broad earnings 5:
1971 P.. .
1970 r
1969
Balance of
payments income 6:
1971 P
1970 r__
1969
H. Measures of return, as a
percent of direct investment position at beginning of year:
Adjusted earnings:
1971 P
1970 r
1969..
Other
All
industries
All
industries
All
industries
Petroleum
Manufacturing
709
638
721
476
330
228
2
-30
-63
56
45
34
1,611
1,542
1,051
953
719
794
2,153
1,949
1,465
182
144
168
72
65
52
267
257
225
109
93
88
319
298
280
3,116
2, 948
2,604
616
425
-59
1,785
1,534
1,939
716
989
725
622
575
501
166
164
117
233
234
213
2,169
1,919
1,682
259
216
195
10, 228
8,789
8,128
Other
Other
34
35
36
Broad earnings:
1971 P
1970 r___
1969
16.1
15.3
15. 3
20.0
13.0
14.7
15.0
14.9
15.7
18.8
20.2
15.4
13.3
13. 0
12.5
6.1
5.3
2. 4
15.3
14.9
15.9
20.8
20.7
14.7
21.9
20.1
21.0
36.3
28.6
28.3
13.7
14.7
14.7
11.6
14. 1
16.5
37
38
39
Balance of payments income:
1971 P..
1970 r
1969
12.1
11.1
11.3
17.1
14. 2
15.0
9.5
9.7
8.3
14.9
14.0
11.7
8.9
8.6
7.6
3. 8
3.4
2.9
9.6
9.8
8.2
15.4
14.4
10.3
18.9
16.3
18.8
32.8
26.2
28.3
8.7
9.2
8.8
10.4
9.8
13.9
r
Revised.
P Preliminary.
1. Includes developing countries and international, unallocated.
2. Includes preferred dividends, which in 1971 totaled $10 million.
3. Equals A+B+C+D.
4. Equals A+B+D+E.
5. Equals A+B+D+E+F.
6. Equals A+B+E+F.
NOTE.—For an explanation of the relation between earnings, reinvested earnings, foreign
withholding taxes and interest, dividends, and branch earnings see the Technical Note.
Table 4.—-Selected Data on U.S. Direct
24
[Millions
Total, all industries
Area and year
All areas:
1964
1965 _
1966
1967
1968
1969' .
1970'
1971*
Book value
at yearend 1
Net capital
outflows
44,480
49,474
54,799
59,491
64,983
71,033
78, 178
86,001
2,328
3,468
3,661
3,137
3,209
3,254
4,400
4,765
13,855
15, 318,
17,017
18,102
19,535
21, 127
22,790
24,030
Reinvested
earnings 2
Mining and smelting
Interest
dividends
and branch
earnings
Earnings
Book value
at yearend 1
Net capital
outflows
Interest
dividends
and branch
earnings
Earnings
Keinvested
earnings 2
3,674
3,963
4,045
4,518
4,973
5,658
6,001
7,286
3,665
1,598
2,175
2,604
2,948
3,116
5,071
5,460
5,702
6,034
7,022
8,128
8,789
10,228
4,365
4,876
5,435
5, 676
6,168
6,720
136
138
305
330
440
76
383
519
105
126
129
135
123
167
111
26
512
571
659
746
795
782
675
504
403
442
524
596
644
664
553
484
298
962
1,153
408
625
671
908
226
500
540
547
644
772
937
787
1,046
1,106
1,209
1,237
1,327
1,490
1, 596
1,586
1,913
634
703
756
790
851
762
944
1,000
1,713
1,851
2,089
2,342
2,638
2,769
2,989
3,265
91
51
172
173
195
54
149
271
73
86
67
82
103
77
70
35
191
198
191
240
275
236
250
206
118
110
120
154
169
152
175
170
4,555
5,123
5,679
6,113
6,694
7,190
7,996
8,941
214
317
403
331
363
316
645
646
167
242
195
81
211
151
212
297
478
504
432
378
503
502
593
757
281
270
251
274
275
332
386
472
2
2
3
2
2
2
5
8
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
5,421
6,304
7, 587
8,444
9,012
10, 255
11, 774
13, 574
802
857
1,146
852
438
660
994
1,305
100
-3
100
41
108
503
505
497
398
395
436
448
543
945
1,313
1,389
275
366
321
398
434
460
785
886
13
16
17
19
19
17
15
13
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
'(**)
(**)
(**)
(**)
(**)
•(**)
(**)
(*')
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(*.*)
(**)
2,153
2,558
2,967
3,369
3,701
4,206
4,746
5,106
372
305
285
275
200
233
275
131
141
149
140
147
137
239
271
215
239
277
293
317
323
479
477
507
103
132
157
178
196
246
219
300
41
37
34
40
40
52
55
57
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
598
675
756
870
1,050
1,244
1,483
1,818
78
19
32
34
78
89
128
211
35
49
49
79
104
105
115
125
59
91
91
123
167
185
220
284
30
47
43
46
60
70
100
151
Australia, New Zealand, and South
Africa:
1964. _.
1965
1966
1967
1968
1969...
1970''
...
...
1971 v
2,053
2,334
2, 655
3,172
3,508
3,865
4,356
4,876
137
175
167
364
171
160
288
304
117
98
148
152
159
199
184
196
229
246
292
299
320
401
462
474
106
140
138
138
161
214
299
304
168
227
324
119
446
479
583
718
11
57
77
70
22
20
88
105
11
3
21
14
5
13
20
15
30
42
63
66
64
86
111
86
18
36
39
38
55
68
88
74
Latin American Republics and other
Western Hemisphere:
1964
1965
_...
. . __ •
1966
1967
1968
1969"
1970''.
1971 9
10, 254
10,886
11,498
12, 049
13, 101
13,858
14, 760
15, 763
113
271
307
296
677
375
568
668
250
345
343
211
358
376
442
373
1,214
1,S20
1,452
1,398
1,574
1, 646
1,482
1,467
1,011
995
1,113
1,190
1,218
1,277
1,057
1,124
1,404
1,474
1,565
1,709
1,930
1,958
2,071
2,116
oO
43
60
71
227
-13
130
58
20
25
31
24
8
43
—17
-40
266
290
b59
397
392
396
245
176
245
266
327
365
374
. 404
259
219
Other areas:
1964
1965
_
1966
1967....
1968...
1969....
1970'1971 P..
5,591
6,276
6,640
7,372
8,383
9,289
10, 274
11, 892
312
562
167
578
657
750
594
1,272
122
123
216
244
S26
93
432
369
1,318
1,418
1,469
1,745
2,102
2 374
2,655
3,437
1,234
1,310
1,266
1, 505
1,777
2,297
2,212
3, 049
324
325
334
o46
360
S98
451
543
3
13
12
21
33
36
36
55
64
61
35
17
22
27
32
41
35
28
17
.
--
Canada:
1964
1965
1966
1967
1968
1969
1970'
1971?
.-
-
-_
Europe:
United Kingdom:
1964
1965
1966 .
1967 _
1968
1969
1970r
1971 P
_
.
-
- -
European Economic Community:
1964
1965
1966
1967
1968
1969
1970 *
1971 9
•_
Other Western Europe:
1964 .
_
1965 . .
1966
1967_
1968
1969
1970 >•
1971 »
Japan:
1964
1965
1966
1967
1968
1969
1970 r
1971 9
.
_
_„
1,431
1,542
1,739
' Revised.
v Preliminary.
*Less than $500,000 (±).
"""Included in other industries.
1. The value of investments in specified industries and countries is affected by capital
flows among foreign affiliates shown in table 5.
3,931
-12
-5
9
—i
8
18
78
R
(**)
(**)
R
R
(**)
(**)
•(**)
(**)
(**)
(**)
(**)
(**)
R
(**)
1*
30
34
19
2. Represents U.S. owners' share in the reinvested earnings of foreign corporations.
NOTE.—For an explanation of the relation between earnings, reinvested earnings, and
interest, dividends, and branch earnings see the Technical Note.
Investments Abroad, by Major Area
25
of dollars]
Manufacturing
Petroleum
Book
value at
yearend 1
Net
capital
outflows
Reinvested2
earnings
Interest
Book
value at
Earn- dividends
ings and branch yearend l
earnings
Net
capital
outflows
Re-
invested
earnings 2
934
895
983
Other industries
Book
Interest
value at
Earn- dividends
ings and branch yearend i
earnings
847
1,261
1,939
1,534
1,785
1,852
2,022
2,104
2,055
2,519
3,287
3,416
3,759
893
1,094
1,116
1,193
140
395
566
20
26
248
305
-85
289
283
278
344
412
599
355
567
565
606
628
613
672
833
679
926
269
315
354
296
301
255
360
385
3,011
3,306
3,716
3,878
4,243
4,567
4,977
5,421
116
111
259
38
134
117
192
252
164
220
165
111
215
169
219
199
360
419
364
340
442
440
472
485
24
18
17
35
34
29
8
90
3,139
3, 725
4,404
4,976
5,399
6,382
7,177
8,359
466
576
524
505
253
385
464
749
141
23
140
101
167
584
367
462
2
-3
-15
-22
-37
-8
-24
-38
13
5
2
-12
-18
4
-7
-6
437
576
759
943
1,155
1,330
1,553
1,758
36
74
116
141
175
93
117
97
46
27
65
78
-1
10
11
15
13
15
29
24
4
14
16
21
20
19
29
29
8
9
8
9
8
7
6
11
207
275
334
425
522
646
749
959
570
616
646
720
787
837
910
981
31
43
11
48
40
24
46
28
5
3
19
22
23
36
29
52
10
11
22
18
18
37
68
4
6
3
-5
—2
5
25
29
3,589
3,546
3,475
3,473
3,680
S,722
3,938
4,194
7
-74
—37
-66
177
56
160
200
2
30
2
38
42
-15
68
66
539
513
512
519
531
434
417
511
3,536
4,032
4,159
4,617
5,285
5,697
6,053
7,109
232
490
100
448
482
415
245
783
-6
-4
59
95
166
8
153
285
1,077
1,150
1, 201
1,455
1,774
1,953
2,176
2,997
14,328
15,298
16,222
17,399
18,887
19,882
21,714
24,258
760
977
885
1,069
1,231
919
16, 935
837
899
1,037
1,071
1,112
1,259
1,606
1,764
1,983
522
628
624
740
793
1,020
981
1,402
1964
1965
1966
1967
1968
1969
1970'
1971 1>
2,748
3,239
3,628
3,847
4,235
4,591
4,935
5,095
42
337
260
100
236
190
163
-29
84
106
111
125
151
166
202
192
180
222
222
267
300
285
355
410
129
156
170
208
221
202
226
296
1964
1965
1966
1967
1968
1969
1970 '
1971 v
200
204
208
207
206
236
234
270
632
723
769
802
886
1,043
1, 175
1,321
60
66
18
27
74
145
148
94
22
23
38
-1
18
24
35
45
74
91
94
92
110
122
148
203
54
70
57
84
84
92
111
157
1964
1965
1966
1967
1968
1969
1970'
1971 *
370
362
413
424
502
919
1,060
1,127
211
305
257
310
329
342
655
637
751
939
1,186
1,363
1,448
1,611
2,059
2,274
109
141
224
171
53
146
296
75
19
19
15
—3
18
66
100
123
65
64
61
47
91
155
229
286
41
43
45
52
71
89
122
159
1964
1965
1966
1967
1968
1969
1970'
1971 *
35
54
60
40
51
101
112
96
51
77
83
82
97
158
168
174
16
23
24
44
47
63
63
84
981
1,234
1,343
1,479
1,579
1,825
2,034
2,208
186
169
35
52
-4
104
44
34
114
98
93
109
98
146
169
147
186
203
224
255
263
328
334
371
73
106
133
146
167
179
163
222
1964
1965
1966
1967
1968
1969
1970'
1971 *
23
21
22
31
11
39
32
118
33
38
36
61
86
85
75
87
41
55
56
85
127
146
154
193
8
17
18
22
37
49
69
92
77
79
91
98
123
150
194
222
4
2
11
3
21
23
30
15
2
2
2
3
4
5
11
14
15
22
19
16
20
20
36
63
14
21
17
15
15
13
25
49
1964
1965
1966
1967
1968
1969
1970'
1971 *
1,053
1,185
1,332
1,640
1,830
2,035
2,252
2,449
64
48
65
224
83
72
75
94
100
75
79
89
110
126
124
98
168
157
161
176
192
227
264
244
65
79
79
83
82
108
145
153
263
305
354
394
445
514
612
728
32
27
13
23
26
44
79
78
2
17
29
27
20
24
11
31
22
36
46
38
46
87
50
76
19
19
17
22
26
33
40
48
1964
1965
1966
1967
1968
1969
1970'
1971 v
531
476
499
480
489
472
345
444
2,507
2,945
3,318
3, 586
4,005
4,347
4,621
4, 998
137
245
160
199
222
133
104
180
151
178
202
78
194
225
228
232
243
289
342
269
408
466
514
507
98
123
147
195
216
237
280
270
2,754
2,921
3,141
3, 282
3, 486
3,831
4,131
4,454
-61
57
125
92
50
199
174
231
77
111
108
70
114
123
162
114
196
228
2S9
213
243
350
306
274
137
130
140
151
139
164
173
190
1964
1965
1966
1967
1968
1969
1970 r
1971 v
1,131
1,169
1, 165
1,367
1,614
1,964
2,007
2,696
383
456
524
629
693
813
874
993
50
56
40
77
40
73
5
63
21
24
22
24
26
48
54
45
5S
56
57
66
79
98
105
104
26
28
29
36
1,346
1,464
1,622
1,779
2,046
2,381
2,895
3,247
28
27
33
43
106
91
123
121
119
8
192
21
165
179
175
189
194
259
313
301
60
91
55
69
74
252
125
286
1964
1965
1966
1967
1968
1969
1970'
1971 P
1,460
1,940
1,856
1,799
1,781
1,989
2,271
2,638
2,608
3,459
19,339
22,078
24,172
26,414
29,527
32,261
35,475
1,034
1,525
1,752
1,234
945
1,160
1,295
1,468
3, 196
3,356
3,608
3,819
4,094
4,361
4,807
5,134
25
179
155
115
169
179
291
69
54
66
91
93
107
95
160
252
170
183
196
207
243
242
302
371
118
122
112
132
160
152
183
149
6,198
6,872
7,692
8,095
8,568
9,406
10,059
10,537
910
1,093
1,191
1,432
1,563
1,577
1,839
2,192
39
139
126
267
154
53
305
300
-20
—1
-8
-29
-21
-41
-41
54
44
-6
-25
-53
-49
-59
-27
70
28
-4
-15
-17
-15
3
40
46
1,518
1,624
1,980
2,086
2,146
2,244
2, 523
2,927
227
140
397
176
132
129
233
481
-60
-45
-56
-56
-77
-147
38
-87
-38
-32
-39
-24
-51
-129
25
-25
694
710
832
905
926
998
1,104
1,083
148
63
134
80
31
36
114
-7
-4
-13
-3
-14
-9
-10
-28
51
-3
—i
(*)
Interest
Year
Earn- dividends
ings and branch
earnings
520
442
541
557
877
689
1,803
1,830
1,868
2,120
2,449
2,452
2,935
3,982
(*)
398
Re-
invested
earnings 2
427
467
-35
54
106
175
239
-59
425
616
315
321
331
347
405
447
540
637
Net
capital
outflows
1,265
1,337
1,859
1,941
48
47
52
51
9,552
10, 906
12, 134
13,044
14,248
15,948
18,035
19,549
828
718
504
592
1,099
1,262
136
254
326
348
26
SURVEY OF CURRENT BUSINESS
year-to-year change (line 3), but most
of the deterioration was in transactions
with unaffiliated foreigners: corporate
claims on unaffiliated foreigners shifted
adversely by $0.8 billion (line 7), while
borrowing abroad shifted adversely by
$1.7 billion (line 12). A large part of the
adverse shift in U.S. corporate capital
accounts was offset by the record increase of $1.7 billion in direct investors'
ownership benefits (line 18).
Overall, the $1.2 billion adverse
shift from 1970 to 1971 reflected transactions with developed countries; transactions with other areas showed a
slight improvement in net flows to the
United States.
The 1971 deterioration may have
CHART 9
Earnings of Foreign Affiliates
Billion $ (Ratio scale)
BY INDUSTRY OF AFFILIATE
Total
\
\
K.
i
i- i • F
MANUFACTURING AFFILIATES
Manufacturing
All Areas
1960
62
64
66
68
U.S. Department of Commerce, Bureau of Economic Analysis
70
72
72-11-9
November 1972
been related to the international ex- capital outflows for direct investment
change crises, for both the increased purposes than would otherwise be perdirect investment capital outflow and mitted if the larger outflows are offset
the adverse swings in other U.S. cor- by eligible foreign borrowings—and the
porate claims and liabilities were con- volume of eligible foreign borrowings
centrated to an unusual degree in short- has been large. In contrast, many other
term accounts. For instance, among types of U.S. capital outflows, particdirect investment transactions, short- ularly for portfolio investments, are
term capital outflows on intercompany subject to the Interest Equalization
accounts to incorporated foreign affili- Tax and many types of U.S. bank
ates were $1.1 billion in 1971, compared lending to foreigners are subject to the
with $0.7 billion in 1970. The adverse Voluntary Credit Restraint Program.
shifts in U.S. corporate capital trans- Thus, the balance of payments imactions with unaffiliated foreigners were provement programs have probably
also concentrated in short-term ac- been less restrictive of the growth
counts : short-term claims on foreigners in U.S. direct investments than of
increased sharply in 1971, compared the growth in other U.S. claims or
with little change in 1970, and short- foreigners.
term liabilities decreased, compared
with large increases in 1970. Some part Growth in the U.S. direct investment
of these shifts no doubt reflected a position
positioning of claims and liabilities in
By industry, the largest addition to
anticipation of a dollar devaluation. In the direct investment position in 1971
addition, the exchange market un- was, as usual, in manufacturing ($3.2
certainties in 1971 probably made it billion, see table 2). Continuing the
more difficult than in prior years to trend of recent years, most of these
arrange short-term foreign loans on manufacturing investments were in deattractive terms.
veloped countries. The addition to U.S.
Factors other than the exchange direct investment in the petroleum inmarket disruptions also influenced the dustry was $2.5 billion, split about
1971 deterioration in the net flow shown equally between developed countries
in table 1. For one thing, conditions in and the "other areas'; category (which
U.S. financial markets eased while includes developing countries as well as
conditions in some of the major foreign international operations such as shipfinancial centers tightened, and both ping). Additions to U.S. direct investthese developments would encourage ment in other industries totaled $2.1
outflows of U.S. funds to finance direct billion.
investment. Also, the 1970 and 1971
The $7.8 billion addition to the U.S.
liberalizations of Foreign Direct Invest- direct investment position in 1971 repment regulations possibly moderated resents a rapid $1.8 billion growth from
the need to undertake new foreign 1969. This growth was mainly in inborrowing as an offset to U.S. capital vestment in petroleum-related activoutflows for direct investment purposes. ities—production, transportation, reIn recent years, the rate of growth in fining, and marketing—-as the addition
direct investments Has persistently ex- to direct investment in petroleum
ceeded that of other U.S. claims on affiliates accelerated from $1 billion in
foreigners. (See "The International In- 1969 to $2.5 billion in 1971. This acvestment Position of the United States, celeration reflected continuing strong
Developments in 1971," in the October growth in foreign energy requirements
SURVEY.) At end-1971, the U.S. direct and competition to secure and open new
investment position accounted for producing areas. Some of the growth in
nearly 48 percent of all foreign assets investment was in tankers and related
held by U.S. residents, up from 41 per- port facilities, spurred by increased uncent at end-1965. This increasing im- certainties in the Middle East that led
portance of direct investments is prob- the companies to adjust the amounts of
ably related to the structure of the U.S. crude produced in different areas and
balance of payments improvement pro- to change their transportation arrangegrams. The programs allow larger U.S. ments.
November 1972
SURVEY OF CURRENT BUSINESS
CHART 10
Rates of Return on U.S. Direct
Investments Abroad
[Millions of dollars]
Area and country
(net inflow(-))
Alternative Measures of Return—
AH Foreign Affiliates1
Canada. _
1967
France
Germany
Italy
__-..Switzerland
United Kingdom
Other
18
Broad Earnings
\
12
..
1971'
—1
7
1
_1
—5
2
18
38
6
-3
.
13
30
-15
-21
-3
—2
8
—11
4
—1
—19
6
11
6
-28
26
11
g
9
—1
—1
—8
15
3
14
5
2
—1
6
- •- ..
Other countries
10
1970
1
Latin American Republics
and other Western
Hemisphere
ArgentinaMexico. Panama Other
.
1969
1968
10
_
Europe
Percent
16
Table 5.—Net Capital Flows Between
Primary and Secondary Foreign Affiliates
-20
—1
3
10
.. *>n
9
—8
4
—47
-3
3
1 —1
—2 -13
3
10
3
1
5
5
4
-6
-50
-1
-23
10
(*)
» Preliminary.
* Less than $500,000 (±).
Adjusted Earnings by Major Area,
Ail Foreign Affiliates
20
The acceleration in additions to
petroleum direct investment from 1969
to 1971 was split almost equally
between developed countries and other
areas, but the acceleration from 1969
to 1970 was almost entirely in developed
countries while the acceleration from
1970 to 1971 was entirely in the "other
areas."
Other Areas2-
18
16
14
12
Components of additions to direct
investment
27
the United States, and all additions to
the net assets of foreign branches as
U.S. capital outflows. As a result, no
reinvested earnings figure is calculated
for branches, but some of the net
capital outflows to branches serve the
same function as reinvested earnings do
in the case of incorporated affiliates.
From 1969 to 1971, reinvested earnings grew from $2.6 billion to $3.1
billion, a 20 percent increase. This was
less than half the rate of growth in net
capital outflows, which went up from
$3.3 billion to $4.8 billion, or 46 percent.
The growth of reinvested earnings was
slowed by a sharp increase in dividends
remitted to U.S. parent companies,
which bolstered the profit figures of the
parents in a period when profits from
domestic operations had deteriorated.
On the other hand, after mid-1970
U.S. corporations were rebuilding liquidity positions that had been run
down in the preceding tight money
period. This improvement facilitated
Table 6.—Acquisitions and Sales by
American
Companies of Foreign Enterprises,1 by Area and Industry
[Millions of dollars]
10
Developed Countries
i i i i i
Manufacturing Affiliates' Adjusted Earnings
Compared to Domestic Earnings of
Parent Manufacturers3
14
Developed Countries
12
10
1960
62
64
66
68
70
1. Rates of return and alternative-methods of computation are shown
in table 3.
2. Includes developing countries and the international unallocated
category.
3. U.S. domestic rate of return is the ratio of earnings from domestic
operations to domestic net worth at the end of the year. These
data are available for only 1966 and 1970. The rate of return
of affiliates is the ratio of adjusted earnings to book value at
the beginning of the year.
The U.S. domestic rate of return is calculated from a BEA sample of
U.S. manufacturing firms which have foreign affiliates. The sample
does not include all of the U.S. parents for which affiliate data are
shown.
U.S. Department of Commerce, Bureau of Economic Analysis
72
The two main components of the
1971 addition of $7.8 billion to the
direct investment position (table 2)
were net capital outflows from the
United States ($4.8 billion) and the U.S.
share in affiliates' reinvested earnings
($3.1 billion).
Reinvested earnings were less than 25
percent of the 1971 addition to direct
investment in petroleum, but more than
50 percent of the addition to direct
investment in manufacturing. This difference largely reflects the fact that
almost all direct investment in crude
petroleum production is in branches,
reflecting the U.S. tax advantage
attaching to the branch form of organization for extractive activities, while
most foreign manufacturing affiliates
are incorporated. Because of the way
branch accounts are kept by the companies, the U.S. balance of payments
accounts treat branch earnings as
though they were entirely remitted to
1970r
Area and industry
AcAcqui- Sales Net qui- Sales Net
sisitions
tions
855
157
698
650
188
462
Petroleum
4
Manufacturing, . . 650
Other industries- . 201
10
114
33
_6
536
168
34
550
66
7
127
54
27
423
12
164
6
158
66
21
45
2
108
54
2
§ 105
3 51
26
30
10
6
2
13
20
28
—3
511
__fi
412
112
300
6
360
46
1
98
13
5
262
33
172
56
116
2
160
10
27
29
2
133
—19
All areas
Canada
P etroleuni
Manufacturing
Other industries..
567
56
2
Petroleum
M anuf acturing . . . 472
Other industries. . 94
8
42
6
123
94
Petroleum
(*)
M anuf acturing . _ _ 70
Other industries. . 52
2
68
24
Europe
-
Other areas
r
1971P
430
88
28
2
2
28
Revised.
pPreliminary.
*Less than $500,000 (=fc).
Acquisitions include partial and total purchases of voting
securities of existing foreign corporations from foreign owners.
Sales include partial and total sales of voting securities of
foreign corporations by U.S. owners to foreign purchasers.
Liquidations through the sale of assets, as distinct from sale
of ownership interests, are not included. Changes in the share
of ownership resulting from transactions between a parent
and an affiliate—such as the purchase of treasury stock from
an affiliate by a parent—are not included; only changes
involving outside foreign owners or purchasers are included.
Secondary foreign companies acquired or sold through
primary foreign affiliates are not included.
1
November 1972
SURVEY OF CURRENT BUSINESS
28
the large increases in 1970 and 1971 in Components of the return on U.S.
direct investment capital outflows. direct investments
Those large increases may also have
Table 3 gives alternative measures of
been facilitated by easing of Foreign the return on U.S. direct investments
Direct Investment regulations in 1970 abroad, by major area and by major
and 1971.
industry of the foreign affiliate. Panels
A through F give the basic components
used to calculate the various measures;
panel G gives the dollar return on the
basis of each of four measures; and
panel H gives the percentage rates of
return, calculated on the value of U.S.
Table 7A.—Preliminary 1971 Data on U.S. Direct Investment Abroad,
[Millions of
Area and countries 3
Line
Book
Net
value capital
at year- outendi
flows
Reinvested
earnings2
Earnings
Petroleum
Mining and smelting
Total, all industries
Interest,
diviBook
Net
dends,
value capital
and
at year- outbranch
end i
flows
earnings
Reinvested
earnings 2
Earnings
Interest,
diviBook
value
dends,
at yearand
branch
end i
earnings
Net
capital
outflows
Reinvested
earnings2
Earnings
Interest,
dividends,
and
branch
earnings
1
All areas
86,001
4,765
3,116
0,228
7,286
6,720
519
26
504
484
24,258
1,940
616
3,982
3,459
2
Developed countries. _
58,346
2,824
2,375
5,324
3,114
4,060
385
47
294
247
12,954
956
266
474
319
170
5,134
69
252
371
149
6,202
781
-61
7
130
2,192
300
54
70
46
90
3
Canada
24,030
226
1,046
1,913
1,000
3,265
271
35
206
4
Europe *
27,621
2,083
1,009
2,652
1,659
78
9
-2
2
5
United Kingdom
6
European Economic Community
7
8
9
10
11
8,941
Belgium and Luxembourg
France _.
Germany
Italy
Netherlands
Other Western Europe
12
Denmark
Norway
Spain
Sweden
Switzerland
Other 5 _.
13
14
15
16
17
18
._
19
Japan
20
Australia, New Zealand and South
Africa.
_
646
297
472
757
8
(**)
(**)
(**)
(**)
13
(**)
(**)•
(**)
(**)
2,927
481
-87
-25
10
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
117
385
1,300
609
516
61
75
92
171
82
-10
-5
7
-72
-7
17
(**)
-74
39
2
21
21
-2
48
300
57
(**)
(**)
(**)
(**)
1,083
-28
-38
-6
17
-5
23
18
187
60
1
-1
-8
-23
-17
-6
2
-14
1
4
2
4
6
1
4
13,574
1,305
497
1,389
886
1,815
3,013
5,214
1,860
1,672
167
241
474
330
94
122
171
145
-10
69
221
307
640
59
161
99
142
476
67
102
5,106
131
215
507
357
282
777
689
1,884
1,117
16
4
37
44
-39
69
-20
8
9
24
133
61
-6
1
31
40
320
121
(*)
(**)
(**)
(*)
(**)
(**)
(*)
(*)
19
1,818
211
125
284
151
4,876
304
196
474
304
718
244
11
46
136
14
46
340
26
108
236
11
58
602
8
108
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(*)
19
-3
-6
12
-47
24
233
130
127
331
-83
344
637
78
24
29
11
105
15
86
74
981
28
52
68
29
95
13
59
53
10
2
27
21
(**)
(**)
189
21
22
23
Australia
New Zealand
South Africa
3,704
209
964
24
Developing countries
23,337
1,397
546
4,294
3,740
2,659
136
-21
210
236
9,163
718
135
3,047
2,883
15,763
668
373
1,467
1,124
2,116
58
-40
176
219
4,194
200
66
511
444
12, 978
458
1,356
-1
-40
73
112
3,303
91
40
463
421
52
138
36
50
63
-18
56
8
-59
131
291 1,205
7
121
77
138
34
6
78
14
132
208
-7
15
63
1
44
48
498
11
25
924
1,840
1,461
662
1,350
2,045
721
745
688
2,698
767
122
73
30
67
73
11
47
38
447
16
126
19
9
(**)
119
452
(**)
415
(**)
45
-12
-27
7
28
2
-3
17
19
R-3
2
(**)
(**)
3
(**)'
25
(**)
12
(**)
24
(**)
12
30
286
179
(**)
145
(**)
345
(**)
1,634
685
127
7
2,785
211
82
262
200
760
58
103
108
891
109
27
48
23
2,869
174
98
577
481
386
19
32
15
2,095
115
72
515
444
191
1,044
1,634
-7
33
147
11
87
17
409
150
6
410
64
(**)
.(«)
325
(**)
(**)
20
(**)
(**)
1,069
(**)
(**)
81
(**)
(**)
64
(**)
(**)
109
{**)
(**)
45
1,465
48
-20
1,854
1,877
1,410
355
16
167
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
Latin American Republics and other
Western Hemisphere.
Latin American Republics
Mexico
Panama.
Other Central America 6
Argentina
BrazilChile
Colombia. ...
Peru
Venezuela. .
Other 7
Other Western Hemisphere *_
Other Africa »
Liberia
Libya
Other
(*)
42
Middle East 10
1,657
54
-9
1,876
1,888
3
43
Other Asia and Pacific . .
3,048
501
85
374
247
155
329
71&
2,000
16
4
481
8
14
64
40
54
280
27
35
185
4,318
543
195
610
433
44
45
46
47
India
Philippines
Other
International, unallocated
*Less
j-ivoo than
i/uaiA $500,000
<puvu,vuv/ v(-*-/
*\^u.uiumcu
Combined in
in utiiei
other inuu&tiies.
industries.
,
1. The value of investments in specified industries and countries is affected by capital
flows among foreign affiliates shown in table 5.
2. Represents U.S. owners' share in the reinvested earnings of foreign corporations.
3. Does not mean that all countries grouped in an "other" or regional category have U.S.
direct investment at any given time.
4. Direct investment statistics do not show any investments in Eastern Europe.
(**)
(**>
(**)
(*)
(*)
C
"16
<*12
59
(**)
(**)
(**)
(**)
(*)
(**)
(**)
(*)
17
(**)
r
\7
(*)
(**)
(**)
(**)
(**)
25
(**)
(**)
(**)
(**)
8
2
2
(**)
(**)
(**)
(**)
(**)
(**)
(**)
2,140
(**)
(**)
(**)
(**)
(**)
(**)
<">,
(
**\o
(**)
-104
(**)
(**)
(**)
265
(**)
(**)
(**)
(*)
9
(*)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
216
4
9
6
(**)
(**)
(**)
31
(**)
370
-5
(**)
(**)
(**)
461
(**)
(**)
(**)
3
(<)
5
(**)
R
30
(**)
366
-10
118
(**)
(**)
(**)
257
5. juiuiuutjs
Includes Austiia,
Austria, *_/yyius,
Cyprus, riiuaijxi,
Finland, Gibraltar, Greece, Greenland, Iceland, Ireland,
o.
Malta, Portugal, Turkey and Yugoslavia.
6. Includes Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua.
7. Includes Boliva, Dominican Republic, Ecuador, Haiti, Paraguay, and Uruguay
8. Includes all of the Western Hemisphere except Canada and the 19 Latin American Republics included in line 26.
SURVEY OF CURRENT BUSINESS
November 1972
direct investment at the beginning of
the year, for three of the measures (it
is not possible to calculate a rate of
return for the "earnings" measure because data on the U.S. share in the net
worth of the foreign affiliates were not
collected for the years covered). Definition of the basic components (panels
A through F) and explanation of the
relationship among them are given in
the Technical Note at the end of this
article. The following paragraphs
Selected Data Items, Countries, and Industries
dollars]
Other industries
Manufacturing
Book
value
at yearend 1
Net
Beinvested
earnings 2
capital
outflows
Interest,
dividends,
and
branch
earnings
Earnings
Book
value
at yearend 1
Net
capital
outflows
Reinvested
earnings 2
Interest, Line
dividends,
and
branch
earnings
Earnings
35,475
1,468
1,785
3,759
1,941
19,549
837
689
1,983
1,402
1
29,483
1,225
1,508
3,148
1,620
11,848
259
554
1,408
927
2
10,537
-85
567
926
385
5,095
-29
192
410
296
3
15,538
1,098
756
1,785
990
5,803
195
316
859
539
4
5,421
252
199
485
270
1,321
94
45
203
157
5
8,359
749
462
1,127
637
2,274
75
123
286
159
6
1,015
2,167
3,307
1,001
870
75
162
361
147
4
92
129
127
53
60
125
226
576
112
88
35
102
402
57
41
683
451
607
250
285
31
4
20
12
8
41
47
10
10
15
96
64
64
22
34
62
19
53
13
13
7
8
9
10
11
1,758
97
96
174
84
2,208
34
147
371
222
12
29
30
13
24
4
-5
14
38
44
3
6
7
21
81
56
3
2
14
9
44
13
57
77
231
147
1,459
273
-4
8
13
2
—5
21
-20
5
21
10
92
15
14
12
30
19
235
60
12
7
7
9
142
44
13
14
15
16
17
18
66
74
419
210
509
481
(*)
(*)
959
118
87
193
92
222
15
14
63
49
19
2,449
94
98
244
153
728
78
31
76
48
20
1,846
114
489
53
6
35
76
10
13
191
17
35
125
7
22
1,255
87
178
99
6
1
47
4
31
89
8
47
58
4
15
21
22
23
5,991
243
277
611
321
5,523
301
156
425
300
24
4,998
180
232
507
270
4,454
231
114
274
190
25
4,708
189
216
466
245
3,611
178
76
204
147
26
1,272
144
77
813
1,409
50
256
92
516
80
57
-3
4
16
48
-8
36
4
28
6
17
30
2
21
112
-6
11
94
44
412
1,012
397
537
372
219
144
181
548
257
9
124
13
34
13
-6
9
10
16
3
38
4
-7
20
-1
3
1
21
2
16
86
27
29
37
27
2
50
171
-8
28
10
63
7
76
13
5
31
58
. i
15
9
34
4
15
60
18
36
15
5
2
5
47
10
27
28
29
30
31
32
33
34
35
36
290
-9
16
41
26
844
53
39
70
44
37
123
21
3
7
5
266
19
6
22
17
38
191
1,044
118
-7
33
25
11
5
17
409
9
6
410
7
39
40
41
(**)
(**)
121
(**)
(**)
21
(*)
(**)
(**)
3
(**)
(**)
(**)
(**)
(*)
(*)
3
(*)
4
8
65
11
'
92
2
5
7
3
98
5
6
14
9
42
779
40
37
90
44
704
46
33
114
83
43
5
6
9
22
24
24
43
15
11
18
160
461
1,648
11
4
446
2
5
42
16
30
237
12
24
167
44
45
46
2,178
278
-21
150
176
47
169
258
352
(*)
35
9. Includes United Arab Republic (Egypt) and all other countries in Africa except South
Africa.
10. Includes Bahrain, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Qatar, Saudi Arabia,
Southern Yemen, Syria, Trucial States, Oman, and Yemen.
NOTE.—For an explanation of the relation between earnings, reinvested earnings, and
interest, dividends, and branch earnings see the technical appendix.
29
review the components one by one.
Net earnings of foreign branches in
1971 were $3.1 billion, an increase of
$0.7 billion from 1970 (panel A).
Petroleum branches in "other areas",
which include most of the crude production affiliates and the marketing and
shipping affiliates, accounted for the
major part of these earnings.
The U.S. direct investors' receipts of
common stock dividends from incorporated foreign affiliates were $3.5
billion in 1971, an increase of $0.6
billion from 1970 (panel B). Manufacturing affiliates in developed countries were the largest source of
dividends. Foreign withholding taxes
on common stock dividends in 1971
were $0.4 billion (panel C). These are
taxes paid by incorporated affiliates to
foreign governments in connection with
common dividends paid to U.S. direct
investors. These taxes are mainly paid
to developed countries by manufacturing affiliates.
The U.S. direct investors' share of
the reinvested earnings of incorporated
affiliates was $3.1 billion in 1971, up
from $2.9 billion in 1970 (panel D).
Close to half of reinvested earnings
were in manufacturing affiliates in developed countries. (The sum of reinvested
earnings, dividends, and foreign withholding taxes equals the U.S. direct
investors' share in earnings of incorporated foreign affiliates.)
Interest received by direct investors
from affiliates iix 1971 was $0.6 billion
(panel E). Interest receipts have grown
rapidly in recent years (they were only
$0.2 billion in 1965) in part because of
increases in interest rates. Interest,
comprising receipts from all forms of
foreign organization, comes mainly from
affiliates in the developed countries.
Direct investment royalties and fees
are net payments by foreign affiliates to
U.S. direct investors for: (i) royalties,
license fees, and rentals, which include
parent company charges to cover a portion of expenses of research and development of new products and processes
and rental fees for the use of tangible
property; (ii) management fees and
service charges, which represent an allocation of administrative and other
expenses incurred by parent companies
on behalf of their foreign affiliates.
SUEVEY OF CUEEENT BUSINESS
30
These figures are net of any payments
by U.S. parents to the foreign affiliates.
Table 9 shows data on royalties and
fees split between the two major categories listed under (i) and (ii). Payments of royalties and fees by foreign
affiliates to U.S. residents other than
their own parents are not included in
the data on direct investment royalties
and fees covered in this article.
Direct investment royalties and fees
were $2.2 billion in 1971, up more than 13
November 1972
percent from 1970 (panel F). Manufacturing affiliates in developed countries
accounted for roughly three-fourths of
the 1971 figure. Affiliates in the petroleum industry, as usual, reported only
small payments of royalties and fees.
Table 7B.—Revised 1970 Data on U.S. Direct Investments Abroad,
[Millions of
Total, all industries
Area and country 3
Line
Book
Net
value capital
at year- outend i
flows
Reinvested
earnings2
Earnings
Mining and smelting
Interest,
Book
diviNet
dends,
value capital
and
at year- outbranch
end i
flows
earnings
Reinvested
earnings 2
Petroleum
Earnings
Interest,
Book
Net
divivalue
dends,
capital
at yearand
outbranch
end i
flows
earnings
Reinvested
earnings 2
Earnings
Interest,
dividends,
and
branch
earnings
1
All areas
78,178
4,400
2,948
8,789
6,001
6,168
383
111
675
553
21,714
1,460
425
2,935
2,608
2
Developed countries.
53,145
3,238
2,075
4,652
2,733
3,646
235
94
369
266
11,723
1,055
205
342
256
22,790
908
787
1,586
944
2,989
149
70
250
175
4,807
291
160
302
183
24,516
1,914
988
2,384
1,390
75
-2
4
8
5,466
653
-13
-26
42
7,996
645
212
593
386
5
(**)
.(**)
(**)
(**)
1, 839
305
-41
-27
40
11,774
994
505
1,313
785
15
(**)
(**)
(**)
(**)
2,523
233
38
25
8
1,529
2,590
4,597
1,550
1,508
175
332
247
101
139
95
147
87
34
143
174
239
645
93
163
73
100
516
58
37
10
(**)
(**)
(*)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)
(**)•
R
(**)
65
319
1,195
503
441
1
29
104
41
58
-1
-5
24
-45
65
6
30
-47
36
-3
10
27
-1
-25
4,746
275
271
477
219
55
(**)
.(**)
(**)
(**)
1, 104
114
-10
-24
-7
3
-11
1
3
Canada
4
Europe *
-
--
5
United Kingdom
6
European Economic Community.. _.
7
8
9
10
11
12
13
14
15
16
17
18
Belgium and Luxembourg
France
Germany. _
_ .
Italy.. .
...
Netherlands
Other Western Europe
Denmark
Norway
Spain
Sweden
Switzerland
Other 5
362
26.8
737
620
1,777
981
43
34
119
24
6
50
9
10
17
20
167
48
17
4
32
35
307
83
13
-4
17
17
139
37
(*)
1
•(**)
(**)
(*)
(*)
23
(**)
(**)
(**)
(**)
(**)•
(**)
(**)
(**)
(**)
-(**)
(**)
(**)
236
135
140
322
-39
310
38
33
28
17
-15
12
-1
-4
-1
-15
-2
5
-10
5
-12
1
-2
540
65
29
29
6
29
37
25
R
(**)
19
Japan
1,483
128
115
220
100
20
Australia, New Zealand, and South
Africa
4,356
288
184
462
299
583
88
20
111
88
910
3,304
184
868
228
8
52
123
13
49
300
23
139
209
9
80
478
8
96
65
9
15
22
72
53
-2
39
35
(**)
(**)
172
46
21
22
23
Australia
New Zealand
South Africa
24
Developing countries
21,448
935
601
3,699
3,093
2,522
148
17
306
287
8,333
440
102
2,316
(**)
(**)
(**)
2,187
25
Latin American Republics and other
Western Hemisphere.
14,760
568
442
1,482
1,057
2,071
130
-17
245
259
3,938
160
68
417
345
368
40
2
4
10
10
-4
1
(**)
(**)
32
17
(**)
'(**)
323
..- . .
-
(**)
(**)
(**)
26
Latin American Republics
12,252
318
360
1,237
881
1,391
55
-17
145
156
3,173
68
27
28
29
30
31
32
33
34
35
36
Mexico
Panama
Other Central America6
Argentina
Brazil
Chile
Colombia
Peru
Venezuela
Other 7
1,786
1, 251
624
1,281
1,847
748
698
688
2,704
626
92
110
21
41
102
-56
-6
-44
-5
63
51
74
3
15
106
(*)
16
22
63
10
141
133
22
105
209
46
45
76
428
32
91
75
21
90
92
42
29
53
363
24
153
19
10
(**)
131
455
(**)
427
(**)
47
14
-1
6
5
3
(**)
(**)
24
(**)
-21
(**)
-2
2
(**)•
(**)
21
(**)
54
(**)
14
(**)
(**)
34
(**)
53
(**)
15
33
259
160
(**)
118
(**)
334
(**)
1,735
252
-4
16
5
(**)
37
Other Western Hemisphere 8
2,508
250
82
245
176
679
74
100
103
765
38
39
40
41
Other Africa »
Liberia
Libya
Other
42
Middle East10
.
..
43
Other Asia and Pacific
44
45
46
India
Philippines ...
Other
47
t
International, unallocated
-
.
..
-. .
.
..'
.. ...
2,614
187
1,012
1,415
327
20
230
77
99
-5
12
92
707
16
564
128
610
21
552
37
358
(**)
(**)
295
1,617
-166
-21
1,193
1,218
3
2,457
206
80
317
208
305
701
1,450
11
-50
245
-2
10
71
34
47
235
29
(**)
37 , (**}
142
(**)
3,586
227
273
438
176
*Less than $500,000 (db).** Combined in other industries.
1. The value of investments in specified industries and countries is affected by capital
flows among foreign affiliates shown in table 5.
2. Represents U.S. owners' share in the reinvested earnings of foreign corporations.
3. Does not mean that all countries grouped in an "other" or regional category have U.S.
direct investment at any given time.
4. Direct investment statistics do not show any investments in Eastern Europe.
91
2
-17
(**)
(**)
-12
35
(**)
(**)
(**)
(
-'2o
(*•*)
(**)
33
(*.*)
(**)
33
(*)
(**)
(**)
62
(**)
(**)
58
—1
(**)
(**)
29
(**)
(**)
25
-1
(**)
(**)
(
(%
'\
3
92
29
50
22
600
(**)
(**)
45
553
(**)
(**)
3
1,178
1,206
1,442
-161
1,658
(
'\
(
59
300
(**)'
(**)
66
(**)
(**)
(**)
2
1
14
(**)
286
1
*:>3o
1.914
(**)
(**)
930
1,039
(**)
(**)
(**)
141
(**)
(**)
r>
-35
(**)
48
(**)
(**)
43
-24
9
(**)
(**)
(*'*)
119
121
(**)
(**)
(**)
277
(**)
283
-1
84
<**)
(**)
(**)
165
5. Includes Austria, Cyprus, Finland, Gibraltar, Greece, Greenland, Iceland, Ireland
Malta, Portugal, Turkey, and Yugoslavia.
6. Includes Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua.
7. Includes Bolivia, Dominican Republic, Ecuador, Haiti, Paraguay, and Uruguay8. Includes all of the Western Hemisphere except Canada and the 19 Latin American
Republics included in line 26.
SURVEY OF CURRENT BUSINESS
November 1972
Alternative measures of return
in panels A through F, are shown in
panel G of table 3. Rates of return are
Four measures of the dollar return on shown in panel H and chart 10.
direct investment, reflecting alternative
The U.S. share in earnings of the
analytic viewpoints, obtained from dif- foreign affiliates gives a conventional
ferent combinations of the components measure of return from the viewpoint
Selected Data Items, Countries, and Industries
dollars]
Other industries
Manufacturing
Book
value
at yearend 1
Net
capital
outflows
Reinvested
earnings 2
Interest,
dividends,
and
branch
earnings
Earnings
Book
value
at yearend i
Net
capital
outflows
Reinvested
earnings 2
Earnings
Interest,
dividends,
and
branch
earnings
Line
32,261
1,295
1,534
3,416
1,859
18,035
1,262
877
1,764
981
1
26,766
1,185
1,252
2,797
1,527
11,010
762
523
1,145
683
2
10,059
305
355
679
360
4,935
163
202
355
226
3
13,706
773
699
1,699
952
5,269
490
299
703
396
4
4,977
192
219
472
234
1, 175
148
35
148
111
5
7, 177
464
367
1,060
655
2,059
296
100
229
122
6
852
2,828
824
804
102
217
17
41
86
63
126
48
69
61
90
191
567
118
94
28
73
457
47
51
612
392
574
224
262
71
85
127
19
-5
34
26
14
10
17
84
42
48
21
33
48
17
33
12
11
7
8
9
10
11
1,553
117
112
168
63
2,034
44
169
334
163
12
66
68
382
165
459
412
6
69
5
22
14
2
5
-1
8
56
42
4
7
8
13
83
52
3
1
12
7
28
11
59
65
215
133
1,357
235
-1
1
22
1
-1
23
8
6
22
12
106
16
14
12
26
22
218
44
7
6
4
10
109
27
13
14
15
16
17
18
749
32
75
154
69
194
30
11
36
25
19
2,252
75
124
264
145
612
79
11
50
40
20
1, 715
99
438
49
2
23
87
8
29
191
15
58
112
6
27
1,111
76
162
114
-3
15
14
4
22
37
7
43
44
3
18
21
22
23
5,495
109
282
619
332
5,098
238
200
458
287
24
4,621
104
228
514
280
4,131
174
162
306
173
25
4,336
106
212
475
256
3,353
89
125
249
147
26
1,199
60
-2
-6
3
50
110
38
60
157
1
25
11
65
7
72
9
5
60
68
-2
12
4
25
3
401
856
380
509
351
227
129
169
506
255
21
-2
-8
11
2
37
29
—1
1
82
3
13
6
39
4
96
21
38
51
-78
5
-15
14
4
11
35
4
14
7
17
2
16
24
4
21
85
23
45
20
24
6
12
77
10
12
66
19
31
13
10
3
-4
55
7
27
28
29
30
31
32
33
34
35
36
285
-1
16
39
24
778
85
37
56
26
37
100
11
7
10
3
242
187
1,012
91
33
20
230
11
11
-5
12
9
35
16
564
14
25
21
552
5
38
39
40
41
1,868
117
74
771
1,247
66
235
92
462
73
(**)
(**)
99
o
(.**)
(**)
11
(**)
(**)
(**)
(**).
(**)
(**)
7
10
85
1
3
5
2
87
-6
-1
10
10
42
690
-7
43
89
47
638
37
28
107
79
43
157
251
282
8
-36
21
5
15
23
22
28
40
14
12
22
148
451
1,169
3
-14
224
-7
-4
48
13
20
195
15
25
121
44
45
46
1,928
262
154
161
11
47
3
9. Includes United Arab Republic (Egypt) and all other countries in Africa except South
Africa.
10. Includes Bahrain, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Qatar, Saudi Arabia,
Southern Yemen, Syria, Trucial States, Oman, and Yemen.
NOTE.—For an explanation of the relation between earnings, reinvested earnings, and inter
est, dividends, and branch earnings see the technical appendix.
31
of the affiliates. This earnings measure
sums branch earnings, dividends, withholding taxes, and reinvested earnings
of incorporated foreign affiliates (panels
A+B+C+D). Interest and royalties
and fees are excluded because they are
costs to the affiliates.
The U.S. share in earnings of foreign
affiliates was $10.2 billion in 1971. The
increase from 1970 was 16 percent, in
line with the growth in 1968 and 1969;
earnings growth in 1970 was 8 percent.
The 1971 increase primarily reflected a
rapid expansion in petroleum earnings,
as increased production more than offset
decreased profits per barrel caused by
higher taxes and other costs. The increase in production resulted from growing demands for energy abroad along
with a continuing shift away from coal.
In 1971, for the first time in several
years, earnings of petroleum affiliates
exceeded earnings of manufacturing affiliates. The small increase in earnings of
manufacturing affiliates mostly reflected
increased earnings of Canadian transportation equipment affiliates, which
had been depressed in 1970 by labor
troubles. Otherwise, manufacturing
earnings were held down in 1971 by
slack economic conditions abroad.
There was very little growth in aggregate earnings of the other industry
groups in 1971, as an improvement in
earnings of finance and insurance affiliates was offset by some deterioration in
mining and smelting. Earnings of mining and smelting affiliates declined
because of the Chilean nationalizations,
strikes, and lower metal prices. Associated with these changes in the industry
composition of earnings was a small
decrease in the share of earnings accounted for by developed countries.
Adjusted earnings focuses on the
return realized by the direct investor,
rather than earnings from the point of
view of the affiliates. It is equal to
earnings plus interest less withholding
taxes paid to foreign governments
(panels A+'B+D+E). Interest paid by
affiliates to direct investors is part of
adjusted earnings because loan capital
is included in the value of direct investment; foreign withholding taxes on
common dividends paid to direct investors are excluded because such
32
November 1972
SUEVEY OF CURRENT BUSINESS
taxes represent a reduction in benefits
to direct investors. Royalties and fees
are excluded as they are not included
in the conventional concept of return
on capital.
On the adjusted earnings basis, returns to U.S. direct investors were
$10.4 billion in 1971, $1.5 billion more
than in 1970. The adjusted earnings
figures show roughly the same area
and industry pattern as the earnings
figures discussed above, with petroleum
affiliates in "other areas" dominating
the change from 1970 to 1971.
The $10.4 billion of adjusted earnings
gave a rate of return of 13.3 percent on
the U.S. direct investment position, up
significantly from the rate of return in
1970 (panel H). The gain was largely
in petroleum. The rate of return in
manufacturing was unchanged at 11.5
percent, while that for other industries
fell from 1970 to 1971.
BEA has data for a special sample of
223 U.S. direct investors in manufacturing. These data permit comparison of the rate of return from
foreign affiliates in manufacturing with
the rate of return on domestic (U.S.)
operations. The U.S. rates of return
are available only for 1966 and 1970
and do not cover all the U.S. parents
for which affiliate data are available.
The U.S. rates of return are plotted as
points in the third panel of chart 10.
For U.S. direct investments in foreign
affiliates, the adjusted earnings measure
approximates a return on net worth.
The figures for direct investors' domestic
operations are a measure of return on
domestic net worth: the U.S. income?
figure excludes fees and royalties, interest, and related receipts from the
foreign affiliates, and the U.S. net worth
figure excludes investments in the
foreign affiliates. On this basis, the data
for 1966 show a domestic rate of
return in manufacturing of 11.5 percent, and an adjusted earnings rate of
return of 10.7 percent on U.S. direct
investments in foreign manufacturing
affiliates; in 1970 the domestic rate of
return was down to 6.7 percent, while
the yield on the U.S. direct investments
in the foreign affiliates had increased
to 11.5 percent. It should be borne in
mind that these comparisons are significantly affected by divergent domestic
and foreign economic conditions in
1966 and 1970. In the United States,
Table 8.—Net Capital Outflows to Manufacturing Affiliates by Industry
[Millions of dollars]
Manufacturing total
Area and year
Chemicals
Paper and al- and allied
lied products products
Food
products
Primary and Machinery
fabricated except electrical
metals
Rubber
products
Electrical
machinery
Transportation equipment
Other
industries
AH areas:
1967
1968
1969
1970r_
1971*
50
1
115
193
252
108
326
226
158
192
-73
59
-5
-11
-91
38
131
-241
1
70
58
4
49
65
68
105
195
245
108
—28
114
148
92
82
23
24
50
321
49
181
104
154
57
1
1
10
_4
3
18
-10
—7
8
—8
-2
2
10
1
4
5
8
85
4
4
11
5
12
8
6
—8
5
2
131
18
20
10
—6
10
6
4
18
17
1
10
3
3
24
44
10
2
6
21
5
-1
21
5
7
6
34
22
24
18
2
17
4
24
20
24
1
9
10
23
—4
58
45
-3
64
45
64
26
-17
51
-6
3
11
8
4
2
3
3
3
5
6
11
8
6
1
2
1
1
2
5
7
7
7
16
84
100
125
134
204
68
—7
3
111
52
428
293
163
78
327
25
1 160
1 295
1 468
4
9
44
242
160
136
194
24
20
26
248
305
—85
—10
21
53
5
26
48
—16
—35
86
17
68
21
2
47
81
7
—8
g
3
—7
—23
29
16
74
—20
683
562
596
773
65
50
54
90
144
11
9
31
23
32
201
164
100
—13
187
2
—1
1
100
95
63
85
37
2
1
2
1
-3
g
12
9
12
11
1, 234
....
945
115
—2
206
178
115
116
71
177
205
302
Canada:
1967
1968
1969
1970r
1971*>
.
-
2
(*)
49
-39
21
(*)
(*)
Europe:
1967
1968
1969
1970'
1971 v
1 098
41
—17
Japan:
1967
1968
1969
197011971 P
31
11
39
32
118
.,
.
(*\
H
3
11
(*)
(*)
(*)
(*)
1
(*)
(*)
(*)
Australia, New Zealand, and
South Africa:
1967
1968
1969
1970r
1971 *
Latin American Republics and
Western Hemisphere:
224
83
72
75
94
5
10
12
g
23
199
222
133
104
180
12
12
1
44
—5
77
40
73
6
63
10
7
5
-16
5
4
—1
—1
5
15
25
19
15
6
3
—1
6
-1
1
85
54
—4
24
33
2
50
16
37
-7
9
(*}
other
1967
1968
1969
1970«1971 v
(*)
1
-4
10
Other areas:
1967
1968
1969
1970'
1971 P
'Revised.
.
ppreliminary.
*Less than $500,000 (db).
(*)
1
1
2
2
6
7
-2
12
(*)
SUEVEY OF CUREENT BUSINESS
33
1966 was marked by strong pressures rate of return of 16.1 percent on the
on industrial capacity while 1970 was U.S. direct investment position; in
marked by a recession. Abroad, 1966 1970, the broad earnings rate of return
tended to be a poor year relative to was 15.3 percent. The increase centered
in the petroleum industry. The broad
1970.
The broad earnings measure is the earnings measure is concentrated in
most complete account of benefits the developed countries more than the
received by direct investors from their other measures, reflecting the imporforeign affiliates. The broad earnings tance of royalties and fees from manumeasure is calculated by adding facturing affiliates in those countries.
The balance of payments income
royalties and fees to adjusted earnings
(panels A+B+D+E+F). Royalties measure is the Nation's identifiable
and fees are included as representing a return on direct investment as recorded
recovery of some of the research and in the U.S. balance of payments
development costs and administrative accounts. This measure equals broad
costs incurred by the U.S. parent earnings less reinvested earnings (panels
company. Addition of 1971 royalties A+B+E+F). Reinvested earnings are
and fees of $2.2 billion to adjusted excluded because they are not now
earnings gives a broad earnings figure treated as a U.S. receipt in U.S. balance
of $12.6 billion, up from $10.9 billion of payments accounting. (A revision
in 1970. The $12.6 billion represents a of the U.S. balance of payments
accounting framework that would include reinvested earnings of incorporated affiliates as a U.S. receipt is being
considered.)
From the balance of payments viewpoint, the return to the United States
on direct investment was $9.5 billion
in 1971. This gave a rate of return of
12.1 percent on the yearend 1970 value
of U.S. direct investment of $78.2
billion, 1 percentage point higher than
the 1970 rate of return. The rate varies
considerably by area and by industry.
Petroleum affiliates in the developed
countries show a very low rate, while
petroleum affiliates in other areas show
a very high rate. This reflects the fact
that transfers of oil to affiliates in consuming areas from affiliates in other
areas are priced so as to show most of
the petroleum firms' profits occurring
November 1972
Table 9.—Direct Investment Receipts of Royalties and Fees,1 by Area and Major Industry
[Millions of dollars]
1964
Area and industry
All areas
Eoyalties,
license
fees, and
rentals
Management
fees and
service
charges
1,013
521
492
116
479
58
257
103
13
210
22
257
19
103
269
36
190
68
Total
Petroleum
M anuf actur ing
Trade.
Foreign film rentals.
Other industries
Canada...
Petroleum _ _ .
Manufacturing
Trade
Foreign film rentals
Other industries
Europe
European Economic Community..
Petroleum
Manufacturing..
Trade
Foreign film rentals.
Other industries
Other Europe, including United
Kingdom..
Petroleum
M anuf acturing
Trade
Foreign film rentals
Other industries
Latin American Republics and other
Western Hemisphere
Petroleum
Manufacturing..
Trade
Foreignfilmrentals .
Other industries.
Other areas
Petroleum
M anufacturing. .
Trade
Foreign film rentals
Other industries
r
1969
15
124
9
27
14
2
416
(*)
150
8
943
739
195
868
133
288
198
34
518
77
288
26
161
350
56
1,919
1,092
826
2,169
1,235
934
216
1 002
156
299
247
34
635
90
299
35
82
367
65
31
756
116
295
38
228
360
84
212
259
1,116
200
295
300
397
186
211
1
137
7
37
4
19
120
10
Total
Royalties,
license
fees , and
rentals
262
302
126
176
357
165
15
89
6
1
82
6
34
3
19
105
g
44
17
225
15
37
63
1
116
3
37
6
16
109
9
11
20
187
14
34
47
57
20
256
16
37
67
159
709
499
211
810
568
242
936
654
283
84
66
353
267
86
413
314
99
506
376
129
79
4
g
48
2
1
200
17
44
5
21
49
7
237
21
48
7
30
50
9
10
48
325
53
45
35
2
290
27
45
12
34
26
9
31
287
30
48
17
1
63
46
1
8
63
93
357
232
125
398
254
143
431
277
153
1
50
6
8
59
9
15
4
139
39
63
g
29
39
235
47
64
47
4
150
52
64
g
35
85
17
27
229
41
63
37
' 23
90
2
6
3
123
34
65
7
23
83
4
23
26
206
38
65
22
192
80
112
302
133
169
318
143
175
336
158
178
32
64
17
44
35
2
25
6
44
3
30
39
11
9
50
11
57
6
32
57
17
6
62
13
54
7
70
40
127
37
54
78
4
76
16
54
8
36
51
21
63
38
115
33
54
78
32
53
20
32
41
107
28
57
69
215
115
99
368
185
183
434
216
217
500
237
262
51
55
11
78
20
9
21
4
78
3
42
34
7
86
119
29
62
72
20
63
9
62
31
66
56
20
103
145
37
97
52
22
80
12
97
6
81
65
25
112
173
54
95
66
20
103
13
95
6
92
70
41
(2)
(*)
(2)
9
2
155
8
109
15
(2)
(2)
16
Revised.
? Preliminary.
*Less than $500,000.
1. Table has been revised to include foreign film rentals received by companies from direct
investment affiliates.
172
Management
fees and
service
charges
22
249
24
44
14
127
6
2
1,682
Management
fees and
service
charges
Royalties,
license
fees, and
rentals
Total
121
257
2
2
Management
fees and
service
charges
192
35
3
27
3
2
84
Royalties,
license
fees, and
rentals
Total
1971 v
1970 r
41
46
23
39
70
60
2. Breakdown of foreign film rentals for European Economic Community and other Europe
not available; amount is included in Europe total.
34
SUEVEY OF CUREENT BUSINESS
in the "other areas" because of tax
considerations and pricing agreements
with the governments of producing
countries. For both manufacturing and
the "other industries" shown in table 3,
the rate of return from affiliates in
developed countries exceeded that from
affiliates in other areas.
The three rates of return are plotted
for the years 1960 through 1971 on
chart 10. Over the period as a whole,
all the rates of return tended to move
up. The increase was sharpest on the
balance of payments basis and slowest
on the adjusted earnings basis.
(Adjusted earnings excludes the fastgrowing royalties and fees component.)
On all three measures, the growth in
the rate of return to the United States
was interrupted in 1964 and 1965 by
the impact of a slowdown in economic
growth abroad, and the uptrend was
not resumed until 1968. The rate of
return on the balance of payments
basis was least affected, as growth in
income transferred to the United States
was maintained while the growth in
reinvested earnings (which are not
included in this measure) slowed.
The rate of return on U.S. direct
investments was higher in 1971 than
in 1970 on all three measures, mainly
reflecting the large increases in the
return from petroleum affiliates in
producing areas. The rates of return
from manufacturing affiliates in 1971
showed little change from 1970 as
the effect of an increase in returns
was about offset by the growth in the
value of investments. The rates of
return on manufacturing investments
in 1971 remained higher in developed
countries than in the other areas
despite the economic slowdown in
the developed areas.
Technical Note
THE various direct investment earnings items shown in tables 3, 4, 7A,
and 7B are defined here and their
derivation and relationship to each
other are shown.
1. Net earnings of foreign corporations: The U.S. parents' share in the
earnings of their foreign subsidiaries
after provision for foreign income taxes,
preferred dividends, and interest payments.
2. Net earnings of foreign branches:
The earnings of foreign branches of
U.S. companies after provision for foreign income taxes but before depletion
charges or provisions for U.S. taxes.
Included with net earnings of branches
are the U.S. share in the net earnings
of foreign partnerships, sole proprietorships, and other types of unincorporated foreign organizations. The total
amount of net branch earnings is
assumed to be repatriated to the
United States and is a balance of payments inflow. To the extent that
branch earnings are in fact left abroad,
they are implicitly entered in the U.S.
balance of payments as capital outflows that offset the inflow of repatriated earnings.
3. Earnings: Net earnings of foreign
corporations plus net earnings of foreign
branches.
4. Gross dividends on common stock:
Dividends on common stock paid out
to U.vS. parents by foreign corporations,
before deduction of withholding taxes
paid to foreign governments.
5. Foreign withholding tax: A tax on
common stock dividend^ withheld by
the payor at the time the dividends
are paid; distinguished from an income
tax, which is imposed on the earnings
of a business. Taxes are also withheld
by the payor on payments of interest
and preferred dividends, but both
November 1972
interest and preferred dividends are
reported to the BEA International
Investment Division net of such taxes;
therefore, our data on withholding
taxes relate only to those on common
stock dividends.
6. Dividends: Dividends on common
or voting stock only, paid by foreign
affiliates to U.S. parents, net of foreign
withholding taxes (item 5); dividends
are a balance of payments income flow
item.
7. Preferred dividends: Dividends
received by U.S. parents on preference
or non-voting shares, after deduction of
any foreign withholding taxes. Preferred dividends are a balance of payments income flow item. Preferred
dividends are treated in the same way
as interest in these accounts even
though on the foreign company's books
they are not charged as an expense.
8. Interest: Interest received on
intercompany accounts or on long-term
debt of foreign affiliates held by U.S.
direct investors, after deduction of any
foreign withholding taxes. Interest is
not included in earnings (item 3) since
it is deducted as an expense item by the
foreign firm, but it is a balance of payments income flow item.
9. Interest, dividends, and branch
earnings: The sum of dividends (item
6), preferred dividends (item 7), and
interest received by or credited to the
account of U.S. direct investors (item
8)—all net of foreign withholding
taxes—plus branch earnings after foreign taxes (item 2); all before U.S.
taxes.
10. Reinvested earnings: Net earnings
of foreign corporations (item 1) less
gross dividends on common stock
(item 4).
Derivation and Relationship Based on 1971
Preliminary Data
[Millions of dollars]
1. Net earnings of foreign corporations.. 7,098 reported
2. Net earnings of foreign branches
3,130 reported
3. Earnings.
10,228=1+2
4. Gross dividends (on common stock) _ 3,982=5+6
5. Foreign withholding tax (on common
stock dividends)
448 reported
6. Dividends (on common stock)
3,534 reported
7. Preferred dividends
8. Interest
9. Interest, dividends,
earnings
10. Reinvested earnings
10 reported
612 reported
and
branch
7,286=2+6+7+8
3,116=1-4 or
3-2-4
November 1972
SURVEY OF CUEEENT BUSINESS
35
Sources and Uses of Funds of Nonfarm
Nonfinandal 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 1971-1
to 1972-11. Table B shows data for 19^71-1 to 1972-11 on the
volume and composition of individuals' saving. Data for both
tables back to the beginning of 1967 were published in the August
1972 SURVEY. Revised tables for years prior to 1967 are available
upon request from the Flow of Funds Section of the Board of
Governors of the Federal Reserve System, Washington, B.C.
20551.
The source of the figures 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 oi Individuals' Saving,1
1971-72
(Billions of dollars)
1972
1971
I
II
III
IV
I
II
Seasonally adjusted at annual rates
1
Table A.—Sources and Uses of Funds, Nonfarm Nonfinancial
Corporate Business, 1971-72
[Billions of dollars]
1971
I
II
1972
III
IV
I
II
Seasonally adjusted at annual rates
Sources, total
118.2
122.2
135.2
Internal sources 1 .
62.1
66.6
12.0
14.5
-4.7
54.8
Undistributed profits l
Corporate inventory valuation
adjustment
Capital consumption allowances 1
External sources
Stocks
Bonds 2
Mortgages
Bank loans, n.e.c _ _ _
Other loans..- _ _ .
. _ __
Trade debt
Profits tax liability
Other liabilities
Uses, total
Purchases of physical assets
Nonresidential fixed investment
R esidential structures
Change in business inventories
__
Increase in financial assets
Liquid assets
...
Demand deposits and currency
Time deposits _ _
U.S. Government securities
Open-market paper
State and local obligations. _
Consumer credit
Trade credit
Other financial assets 2 _ _
Discrepancy (uses less sources)
126.1
-2.0
73.1
16.4
3.4
-.2
2.2
7.0
2.9
.3
2.0
-1.2
13
14
15
16
Private life insurance reserves
Private insured pension reserves
Private noninsured pension reserves. _
Government insurance and pension
reserves _
__
Miscellaneous financial assets
137.2
139.7
17
67.2
72.4
72.5
77.7
18
14.8
16.4
17.3
18.5
-4.4
56.5
-5.8
58.2
19
20
-3.9
59.9
-6.5
61.7
-5.5
64.8
56.1
55.6
68.0
57.9
64.7
62.0
9.0
24.1
8.7
-1.3
5.1
6.8
3.0
.8
15.7
20.1
11.1
2.8
-1.2
-1.5
10.0
-1.4
17.0
14.9
13.3
11.4
.8
2.8
1.9
5.8
12.1
18.5
11.6
.4
.2
4.8
1.1
9.3
10.5
11.2
14.3
9.4
6.1
13.2
.5
-.6
16.2
13.0
15.7
8.0
4.7
9.8
-4.6
-. 7
110.8
82.4
87.6
76.4
4.9
1.0
78.6
5.1
4.0
23.6
108.5
83.2
78.8
5.7
-1.2
23.2
7.9
4.1
2.2
0
_
103.0
12.5
Currency and demand deposits
8.6 -1.4
11.1
15.1
92.1
Savings accounts
65.1
57.3
70.6
100.9
Securities
_
_ _ _ _ _ _ -63.5 -6.2
3.4 -10.8 -27.1
3.2
2.4
U.S. Savings bonds
_'
2.7
2.6
1.9
O ther U.S. Treasury securities
-40.7 -11.3 -16.4 -9.0 -20.6
U.S. Government agency securities . -18.4 -4.5
.9 -1.2 -5.3
7.2
4.2
3.0
State and local obligations
5.0
4.5
4.1
9.0
Corporate and foreign bonds
3.1
11.2
7.0.
.2 -4.0 -3. 8
Commercial paper
-7.7 -4.1
Investment company shares. _ _
2.0
-2.0
2.7
2.5 -2.7
O ther corporate stock _ _ _ _
-6.1
-12.9 -3.4 -2.0 -7.8
130.4
105.9
1.4
1.0
1.5
7.9
6.4
• . -12.3
25.3
13.6
1.6
2.5
3.6
4.9
1.0
1.9
3.6
6.2
13.7
8.3
4.8
4. 9
-5.3
1.0
1.9
1.8
5.8
-11.4
-26.7
101.7
21
22
23
128.1
125.8
24
25
26
27
28
29
87.7
94.8
100.1
81.5
5.4
.7
30
31
88.4
7.1
-.7
90.2
6.4
3.6
32
14.0
33.3
25.6
7.4
4.1
-6.9
3.1
6.2
1.0
1.9
2.8
2.0
5.1
4.9
1.8
-6.2
3.7
1.0
2.6
19.4
6.2
12.0
3.4
2.8
2.0
2.8
1.0
1.5
13.2
-1.1
-28.6
-9.1
-13.9
33
34
35
30
37
38
Source: Board of Governors of the Federal Reserve System.
Increase in financial assets.
Gross inventory in tangible assets
Nonfarm homes
Noncorporate business construction
and equipment
Consumer durables
Inventories
Capital consumption allowances
Nonfarm homes
Noncorporate business plant and
equipment
Consumer durables __
Net investment in tangible assets.
Nonfarm homes
Noncorporate business construction
and equipment
Consumer durables
Inventories
Increase in debt
Mortgage debt on nonfarm homes. . _ _
Noncorporate business mortgage debt.
Consumer credit
..
Security credit
Policy loans
Other debt
39
Individual saving (1+27— 32)
40
Less: Government insurance and pension reserves
Net investment in consumer
durables
Capital gains dividends from investment companies
_ _
Net savings by farm corporations-
41
42
43
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 State:? are excluded from financial sources of funds above.
90.6
2
3
4
5
6
7
8
9
10
11
12
44
Equals personal saving, flow of funds
account basis
45
Personal saving, national income and
product account basis
46
Difference (45-44)
87.9
99.0
106.1
6.1
3.3
8.2
6.6
3.3
7.5
6.8
3.3
5.1
6.8
3.3
8.2
7.2
3.3
3.2
7.2
3.3
7.4
10.3
7.6
10.8
3.4
8.5
7.7
9.5
7.4
4.5
7.3
15.6
5.1
159.0
164.9
172.5
174.2
182.6
188.3
22.3
25.3
26.7
29.2
29.6
32.4
33,1
99.8
3.9
35.1
101.9
2.7
37.2
106.1
2.5
37.9
106.1
1.0
40.8
111.0
1.1
40.6
113.9
1.4
119.9
122.3
124.8
127.1
131.3
9.3
9.3
9.4
9.5
9.6
11.0
23.7
84.8
24.2
86.4
24.8
88.1
25.4
90.0
25.8
91.7
26.8
93.5
41.2
45.0
50.1
49.3
55.4
57.0
12.9
16.0
17.3
19.7
20.1
21.5
9.4
15.0
3.9
11.0
15.5
2.7
12.4
18.0
2.5
12.5
16.2
1.0
15.0
19.3
1.1
13.8
20.4
1.4
40.7
59.0
64.2
73.7
76.6
86.2
13.9
10.2
4.0
1.8
.9
9.8
23.4
11.3
9.0
3.0
.9
11.4
29.1
12.2
12.6
.6
1.1
8.7
31.7
11.4
14.5
3.0
1.0
12.2
27.5
12. 6
13.9
8.2
.7
13.6
37.0
13.1
17.5
6.9
1.3
10.3
88.5
85.1
76.5
81.7
81.9
96.9
10.3
10.8
8.5
9.5
4.5
15.6
15.0
15.5
18.0
16.2
19.3
20.4
.1
-.1
1.2
-.1
1.2
.0
.6
.0
1.0
.0
1.4
.0
63.2
57.6
48.8
55.4
59.3
64.1
61.0
59.3
-3.9
6.5
12.2
3.9
117.8
57.0
55.7
-1.4
1. Combined statement for households, farm, and nonfarm noncorporate business.
Source: Board of Governors of the Federal Reserve System.
59.4
50.1
-9.3
1972
Statistical Abstract
of the United States
Since 1878, the Statistical Abstract of the United States
has been the people's choice publication of statistics in the
world of government and private enterprise. This 93d
annual edition of the "Stat Abstract/' as it is popularly
known, remains the leader in offering the Nation's most
sought-after facts and figures on all social, economic, and
governmental characteristics of the United States. Statesmen, businessmen, scientists, teachers, and students rely
on the Statistical Abstract for both current data and
historical statistics presented in over 1,300 tables and
charts derived from over 200 government, private, and
international agencies. A special introductory table
features RECENT TRENDS for selected measures of social
and economic change. The GUIDE TO SOURCES lists
over 800 statistical publications on 50 major subjects. In
this 1972 edition, a new feature has been added—"USA
Statistics in Brief." This is a separately portable (loose),
pocket-size insert of summary data designed for quick and
easy reference (available separately at 10 cents per copy).
Whatever your line of work, business, profession, or
avocational interests, when you need the facts choose one
of the Nation's most authoritative sources—the STATISTICAL ABSTRACT OF THE UNITED STATES, 1972.
Publications Order Form
''
93d
'edition
1040 Pages
(CLOTH) $5.50
(please detach along this dotted line)
(please type or print)
ORDER FORM
Please send me
056.243:972
copy(ies) of
1972 Statistical Abstract of the United States
at $5.50
MAIL ORDER FORM
WITH PAYMENT TO
FOR USE OF SUPT. DOCS.
Enclosed
To be mailed
later
Subscription
Refund
Coupon refund
Postage
Superintendent of Documents
U.S. Government Printing Office
Washington, D.C. 20402
Name
Address
City
I enclose $
(check, money order, or Suot. of Documents
coupons) or charge to my Deposit Account f 4o.
Total Amount $
State
Zip code
or any U.S. Department of
Commerce field office
MAKE CHECK OR MONEY ORDER PAYABLE TO SUPERINTENDENT OF DOCUMENTS
To Insure Prompt, Accurate Shipment, Place Correct Address on Mailing Label Below
U.S. Government Printing Office
Public Documents Department
Washington, D.C. 20402
Name
OFFICIAL BUSINESS
Street Address
Return after 5 days
City, State, and ZIP Code
POSTAGE AND FEES
PAID
U.S. GOVERNMENT
PRINTING OFFICE
375
Special Fourth Class Rate
Book
U. S. GOVERNMENT PRINTING OFFICE : 1972 O - 487-759
CURRENT BUSINESS STATISTICS
J_HE STATISTICS here update series published in the 1971 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (available from the Superintendent of Documents for $3.00) provides a description of each series, references
to sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1967 through 1970 (1960-70 for major quarterly
series), annually, 1947-70; for selected series, monthly or quarterly, 1947-70 (where available). Series added or significantly revised after the 1971
BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively; certain revisions for 1970 issued too late for
inclusion in the 1971 volume appear in the monthly SURVEY beginning with the September 1971 issue. Also, unless otherwise noted, revised monthly
data for periods not shown herein corresponding to revised annual data are available upon request.
The sources of the data are given in the 1971 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and
are also listed alphabetically on pages 189-90.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely.
Data from private sources are provided through the courtesy of the compilers, and are subject to their copyrights.
1969
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown in
the 1971 edition of BUSINESS STATISTICS
1969
1 1970 1 1971
III
Annual total
1
1970
IV
I
II
1971
III
IV
I
II
1972
III
IV
I
II | III
Seasonally adjusted quarterly totals at annual rates
GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
bil.$__
930.3
976.4 1,050.4
941.7
948.9
958.0
971.7
Personal consumption expenditures, total
do.
579.5
616.8
664.9
583.7
594.4
604.1
613.4
623.0
Durable goods, total 9
Automobiles and parts
Furniture and household equipment
do..
do_
do_.
40.2
37.1
90.5
37.3
39.0
103.5
46.7
42.0
90.6
40.2
37.1
91.4
40.6
37.5
90.2
37.8
38.7
91.6
39.2
38.8
92.6
39.4
38.8
do_.
do_.
do..
_-.-_-do_.
245.9
50.2
120.6
20.9
264.4
52.0
132.1
22.2
278.1
56.9
136.4
23.5
247.3
50.7
120.8
21.2
251.1
51.1
122.6
21.5
257.8
51.1
128.0
21.8
262.4
51.8
131.2
22.0
do_.
do_.
do..
do_.
242.7
33.8
84.1
16.6
261.8
36.3
90.9
18.2
283.3
39.5
99.2
19.9
34.0
85.0
16.8
251.9
35.1
87.2
17.1
256.1
35.3
88.7
17.7
do
139.0
137.1
152.0
143.8
137.9
do.
do.
do.
do.
do
do.
do.
do.
131.1
98.5
34.2
64.3
32.6
32.0
7.8
7.7
132.2
100.9
36.0
31.2
30.7
4.9
4.8
148.3
105.8
38.4
67.4
42.6
42.0
3.6
2.4
133.2
100.2
35.4
64.8
33.0
32.0
10.6
10.6
132.3
101.4
35.8
65.7
30.9
30.5
5.5
5.4
131.4
100.2
35.5
64.8
31.2
30.6
1.5
1.4
do_.
__do_.
do_.
1.9
55.5
53.6
62.9
59.3
.7
66.1
65.4
2.6
58.1
55.5
2.7
59.2
56.5
Govt. purchases of goods and services, total..do
Federal
do_
National defense
do.
State and local
_.do.
210.0
98.8
78.4
111.2
219.0
96.5
75.1
122.5
232.8
97.8
71.4
135.0
211.6
99.3
79.4
112.3
do.
do.
do
do_
do_
do_
922.5
449.7
182.3
267.4
377.9
94.9
971.5 1,046.7
467.0
491.8
183.0
194.6
284.0 297.3
409.2
443.9
95.4
111.0
do_
do..
do..
7.8
5.0
2.8
Gross national product, totalf
Nondurable goods, total 9
Clothing and shoes
Food and beverages
Gasoline and oil
Services, total 9
Household operation
Housing
Transportation
Gross private domestic investment, total
Fixed investment
NonresidentiaL.
Structures
Producers' durable equipment
Residential structures
Nonfarm
Change in business inventories
Nonfarm
Net exports of goods and services
Exports
Imports
B
„. > of product:!
Mnal sales, total
Goods, total
Durable goods
Nondurable goods
Services
Structures
Change in business inventories
Durable goods
Nondurable goods
64.9
4.9
1.9
3.0
1.1
2.5
1,023.4 1,043.0 1,056.9 1,078.1
1,109.1 1,139.4 1,164.0
648.0
660.4
670.7
680.5
696.1
713.4
' 728.6
87.5
33.0
39.6
44.9
41.0
101.9
45.4
41.4
106.1
48.8
41.9
106.1
47.9
43.5
111.0
49.9
46.5
113.9
51.3
46.8
* 118.6
'54.8
'47.9
266.3
51.7
133.9
22.3
271.3
53.6
135.2
22.8
273.4
55.1
135.1
23.0
277.2
56.7
135.9
23.0
278.5
57.4
136.6
23.5
283.4
58.5
137.9
24.3
288.3
59.4
140.3
24.6
297.2
61.5
144.1
24.5
' 302.0
'62.6
' 145.8
'26.4
259.4
35.9
90.1
18.0
264.1
36.9
91.4
18.5
267.7
37.2
93.4
18.8
274.8
38.0
95.8
19.3
281.3
39.1
98.1
19.8
286.1
40.0
100.3
20.2
290.9
40.7
102.5
20.4
296.7
41.2
104.2
21.0
302.4
42.7
106.1
21.5
' 308.0
'44.0
' 108.1
21.9
137.7
139.9
153.0
152.2
158.8
168.1
177.0
' 183.2
131.4
101.7
36.1
65.6
29.7
29.4
6.2
133.7
103.4
36.2
67.2
30.3
29.9
6.2
6.1
132.1
98.5
36.3
62.1
33.6
33.0
5.7
5.6
139.0
101.9
37.6
64.3
37.0
36.6
4.9
3.9
146.4
105.0
38.3
66.7
41.4
40.9
6.6
5.1
150.
106.3
38.7
67.6
44.5
43.9
1.3
-.2
157.2
109.8
38.8
71.0
47.3
46.7
1.7
167.7
116.1
41.3
74.8
51.
51.0
.4
.1
172.0
119.2
42.0
77.2
52.8
52.1
5.0
4.3
' 175.2
' 120.7
'41.8
'79.0
'64.4
' 53.7
'8.0
'7.9
61.5
57.9
3.9
63.0
59.2
4.0
63.7
59.8
2.8
63.2
60.4
4.5
66.3
61.8
.1
66.7
.4
68.5
68.2
-2.1
63.0
65.1
-4.6
70.7
75.3
—5.2
70.0
75.2
'74.4
'77.8
214.0
99.4
78.9
114.6
217.3
99.7
78.9
117.6
216.7
96.2
74.7
120.5
219.5
95.2
73.8
124.3
222.6
95.0
72.<9
127.6
227.0
96.2
72.5
130.8
229.5
233.6
97.9
70.1
135.7
240.9
100.7
71.9
140.2
249.4
105.7
76.7
143.7
254.1
108.1
78.6
146.0
'r 255.6
105.4
'75.1
' 150.2
931.1
451.8
183.0
268.8
383.2
96.1
943.4
458.0
184.7
273.3
391.9
93.4
956.4
462.3
184.4
277.8
400.6
93,5
965.5
467.3
185.2
282.1
405.1
93.1
980.2
472.7
187.4
285.2
412.2
95.3
984.1 1,018.5 1,036.4 1,055.6 1,076.4 1,108.6 1,134.4 1,156.0
465.6
482.2
485.8 496.2 503.1 517.2
532.1
542.4
174.8
189.6
191.0
214.6
197.7 200.1
208.8
220.7
292.6 294.8 298.5 303.0 308.4 317.5
290.7
321.7
418.7
441.1 446.7
431.3
456.3 467.3 477.3
487.3
99.8
105.0
109.5
117.0
125.0
112.7
124.2
126.3
10.6
6.5
4.1
5.5
3.7
1.9
1.5
1.0
.5
6.3
1.6
4.7
6.2
6.0
.2
6.3
5.7
-.9
6.6
4.9
3.7
1.2
71.2
133.3
6.6
3.6
3.1
1.3
-1.0
2.3
1.7
-1.9
3.5
.4
.4
.0
-3.4
5.0
3.0
2.1
'8.0
'5.4
GNP in constant (1958) dollarsf
Gross national product, totalf
Personal consumption expenditures, total
Durable goods
Nondurable goods
Services
.
Gross private domestic investment, total
bil. $._
725.6
722.1
741.7
729.2
725.1
720.4
723.2
726.8
718.0
731.9
737.9
742.5
754.5
766.5
783.9
796.1
do
469.1
477.0
495.4
469.5
472.2
474.1
476.9
480.2
476.5
488.2
493.0
497.4
503.2
511.0
520.9
528.7
do..
do_
do.
85.6
201.3
182.2
83.1
207.0
186.8
92.1
211.1
192.2
85.0
201.2
183.3
85.4
201.5
185.2
83.8
204.4
185.9
84.7
206.0
186.2
84.9
207.7
187.6
78.9
209.9
187.8
88.8
210. 0
189.3
90.0
211.2
191.8
94.2
210.5
192.8
95.4
212.8
195.0
98.6
214.7
197.7
100.7
220.1
200.0
104.5
221.9
202.3
do
110.5
104.0
108.6
114.0
do
do
do
do
103.8
80.1
23.7
6.7
77.6
22.3
4.1
105.9
76.8
29.1
2.6
104.6
80.9
23.7
9.4
.2
2.2
.1
.7
102.0
105.6
106.2
102.2
105.0
110.0
107.3
112.0
116.6
122.0
125.5
102.8
80.9
21.9
4.6
101.0
78.8
22.2
100.0
78.9
21.1
5.6
101.3
79.3
22.0
4.9
97.4
73.6
23.9
4.8
101.2
75.3
25.9
3.8
104.7
76.4
28.3
5.3
106.6
76.4
30.1
.7
111.3
79.2
32.1
.7
116.3
82.2
34.2
.3
118.0
83.6
34.4
3.9
119.3
'84.2
'35.1
'6.2
2.0
2.9
1.9
2.7
-.7
.1
145.9
139.0
137.6
Govt. purchases of goods and services, total. _do
145.1
144.6
73.5
Federal
_
_
do
64.7
60.8
72.3
71.5
72.4
State and local.
do
74.3
76.8
72.7
73.1
' Revised.
» Preliminary.
fRevised series. Estimates of national income and product
and personal income have been revised back to 1969 (see p. 16 ff. of the July 1972 SURVEY);
142.4
69.0
73.5
138.6
64.8
73.8
137.5
62.9
74.6
Fixed investment
Nonresidential
Residential structures
Change in business inventories
Net exports of goods and services
do..
-1.8
' -.7
137.3
136.1 135.7
141.1
143.9 ' 142.6
137.6
142.2
62.1
60.2
61.0
62.8
63.7
59.7
62.3
60.8
75.1
75.9
76.0
78.8
79.4
80.3
76.7
81.8
revisions prior to May 1971 for personal income appear on pp. 25-26 of the July 1972 SURVEY.
9 Includes data not shown separately.
s-1
487-759 O - SI
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown in
the 1971 edition of BUSINESS STATISTICS
1969
1970 | 1971
1970
1969
IV
Annual total
November 1972
I
II
1971
III
IV
I
II
1972
III
I
IV
II
III
IV
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
National income totalf
toil$
Compensation of employees, totalf
do
Wages and salaries, total
__do
Private
do
Military
do
Government civilian
do
Supplements to wages and salaries
do
Proprietors' income total 9
- do_ __
Business and professional 9 -do
Farm
- do
Rental income of persons
- do
Corporate profits and inventory valuation adjustment, total
_
bil. $~
By broad industry groups:
Financial institutions
- do
Nonfinancial corporations, total
do
Manufacturing, total
do
Nondurable goods industries
do
Durable goods industries
__ __do
Transportation, communication, and public
utilities
bil. $_.
All 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 INCOME f
Quarterly Data Seasonally Adjusted at Annual Rates
Less* Personal tax and" nontax payments
do
Equals' Disposable personal income
do
Less* Personal outlays©
-- --do
Equals* Personal saving§
_
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
\\\ industries
- --bil. $..
Manufacturing
do
Durable goods industries ^
do
Nondurable goods industries ^
-do
Nonmanuf acturing
Mining
.
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
.
Commercial and other
do
Seas. adj. qtrly. totals at annual rates:
All industries
Durable goods industries ^
Nondurable goods industries ^
798.6
855.7
781.0
787.5
796.7
806.3
804.1
834.5
851.4
860.8
876.2
903.1
603.8
644.1
585.2
594.3
600.7
609.0
611.2
628.6
639.6
648.0
660.4
682.7
697.8 r 710 2
509.7
405.6
19.0
85.1
56.3
67.2
50.5
16.7
22.6
541.9
426.8
19.6
95.5
61.9
66.8
49.9
16.9
23.3
573.5
449.7
19.4
104.4
70.7
70.0
52.6
17.3
24.5
526.8
418.6
19.6
88.5
58.4
67.2
49.8
17.4
22.9
534.9
422.5
20.2
92.2
59.5
67.7
49.7
18.0
23.0
539.5
425.1
19.6
94.7
61.2
67.1
50.0
17.1
23.2
546.1
430.0
19.4
96.7
62.8
66.6
50.1
16.5
23.4
547. 2
429.7
19.0
98.5
63.9
65.8
49.9
15.9
23.8
560.4
439.3
19.8
101.3
68.2
68.1
51.3
16.8
23.9
569.6
447.0
19.4
103. 3
70.0
69.3
52.4
16.9
24.4
576.5
451.6
18.8
106.0
71.5
70.7
53.1
17.6
24.8
587.3
460.9
19.4
107.0
73.0
71.8
53.8
18.1
25.0
606.6
475.8
20.8
110.0
76.1
73.3
54.3
19.1
25 2
620.0 r 630 6
487.1 r 494 g
20.5 r 20 4
112 4 r H5 4
77.8 r 79 6
73.2
75 3
54.4
56 2
18.7
19 1
24.2
26 2
79.8
69.9
78.6
73.5
69.3
71.5
72.0
66.9
76.6
80.1
78.3
79.4
81.8
86.1
»89. 7
12.4
67.4
36.6
17.7
18.8
14.5
55.4
27.7
16.7
11.0
16.7
61.9
30.9
16.8
14.1
12.4
61.1
32.8
17.1
15.7
12.8
56.5
29.4
16.4
13.1
14.0
57.5
29.9
17.0
13.0
15.0
57.0
28.9
17.2
11.7
16.1
50.8
22.6
16.4
6.2
16.6
59.9
30.9
16.6
14.3
16.4
63.7
31.2
16.8
14.4
17.0
61.3
30.1
16.9
13.3
16.6
62.7
31.2
16.9
14.3
16.5
65.2
35.4
17.7
17 7
17.5
68.5
37.0
17.6
19.4
P 18 3
P71.4
10.1
20.7
7.6
20.1
8.2
22.9
9.3
19.0
8.0
19.1
7.4
20.1
7.8
20.3
7.2
20.9
7.8
21.2
8.8
23.7
8.5
22.6
7.6
23.9
7.8
22 0
8.8
22.8
84.9
40.1
44.8
24.3
20.5
-5.1
30.5
74.3
34.1
40.2
24.8
15.4
—4.4
34.8
83.3
37.3
45.9
25.4
20.5
-4.7
38.5
80.5
38.4
42.1
24.7
17.4
-7.1
32.3
75. 8
34.3
41.4
24.8
16.6
—6.4
33.2
75.2
34.6
40.6
24.7
15.8
-3.7
34.2
76.6
35.4
41.2
24.9
16.3
-4.6
35.3
69.6
32.2
37.4
24.7
12.7
-2.8
36.5
81.3
38.0
43.2
25.5
17.7
-4.7
37.3
84.5
38.6
45.8
25.4
20.4
-4.4
38.1
84.1
37.5
46.6
25.5
21.0
-5.8
39.1
83.2
35.3
48.0
25.2
22.7
—3.9
39.7
88.2
38 8
49 5
26 0
23.5
—6 5
40 1
91.6
40 1
51 5
26 2
25.3
—5 5
40 9
750.9
116.5
634.4
596. 2
38.2
806.3
116. 7
689.5
634.7
54.9
861.4
117.0
744.4
683.4
60.9
774.3
118.2
656.1
611.6
44.6
785.7
117.8
667.9
621.6
46.3
806.1
119.0
687.2
631.2
55.9
813. 4
114.3
699.1
641.1
58.0
819.8
115.8
704.0
644.8
59.2
838.0
112.3
725.7
666.4
59.3
858.1
115.2
742.9
678.8
64.1
867.9
117.5
750.4
689.4
61.0
881.5
123.0
758.5
699 2
59 3
907 0
136 5
770 5
714 9
55 7
922 1 rT 939 9
141 i
139 5
782 6 T 798 8
732 5 r r743 o
50 8
50 1
75.56
31.68
15 96
15 72
79.71
31.95
15.80
16.15
81.21
29.99
14.15
15.84
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
20.14
7.31
3.40
3.91
22
8
4
4
79
44
12
32
19 38
6 61
3 on
3 32
22 01
7 63
3 71
3 92
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
51.22
2.16
1.67
1.88
1.38
15.30
12.86
2.44
10.77
18.05
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
.54
.47
.60
.36
3.83
3,20
.63
2.81
4.44
12.83
.55
.42
.39
.37
4.07
3.35
.71
2.62
4.42
14 35
.59
.45
.56
.37
4.29
3.60
.69
2.84
5.26
12 77
.58
.48
.50
.32
3.63
3.19
.44
2.72
4.55
14 38
.61
.48
.73
.39
4.24
3.61
.62
2.95
4.98
14 41
.60
.43
.58
.37
4.50
3.62
.84
15 89
.65
.43
.70
.30
4.96
4.11
.85
2 7.92
28.86
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
80.75
29.19
13.76
15.43
83.18
30.35
14.61
15.74
86.79
30.09
15.06
15.02
87.12
30.37
14.77
15.60
ISO. 38 191.84
33.22
32.62
16.58
16.22
16.65
16.40
45.46
1.85
1.94
2.80
1.63
11.80
9.36
2.44
47.79
1.84
1..88
2.88
1.12
12.72
10.15
2.57
1 A 00
49.73
1.86
1.96
3.24
1.22
13.84
11.34
2.50
47.66
1.94
1.56
3.08
1.22
13.68
11.20
2.48
48.86
2.04
1.46
1.29
1.33
14.64
12.16
2.48
51.50
2.08
1.88
2.28
1 40
14.91
12.61
2.30
51.56
2.23
1.72
1.68
1.48
15.87
13.56
2.30
O1
10 73
16.67
45.78
1.92
1.74
2.94
1.37
12.14
9.77
2.37
9. 14
16.52
16.98
17.00
15. 97
17. 39
17.72
17.85
52.82
2.30
1.64
2.26
1.33
15.74
13.01
2.74
10 44
19.10
56.70
2.42
2.10
1.96
1.48
16. 92
14.27
2.65
11 71
20.10
56.75
2.38
1.88
2.89
1.53
16.60
14.32
2.27
11 59
19.88
15,762
10,565
15,932
10,705
15,805
10,462
16,580
11,017
16,675
10,710
17,133
11,479
15,748 17, 763 17, 347
9,584 »• 11,791 ' 11,445 »12, 272
do
do
do
Nonmanufacturing
Mining
Railroad
Air transportation
Public utilities
Electric
Gas and other
Communication
do
do
do
do
__do _
do
..do _.
..do
766.0
566.0
do
do
do
do
do
do
_..do
do....
_
U.S. BALANCE OF INTERNATIONAL
PAYMENTScf
Quarterly Data Are Seasonally Adjusted
(Credits +; debits -)
Exports of goods and services (excl. transfers under
55, 502
military grants)
mil. $
36,417
Merchandise, adjusted, excl. military
do
Transfers under U.S. military agency sales con1,512
tracts
mil $
Receipts of income on U.S. investments
abroad..
mil. $._ 10, 539
7,034
Other services
do
T\/f
TH
h
/f<•
t A[ f
?. . I *lce^
d>uju&MJU, ea.c. .
-~
y --
,
1A 7fl
n
r
922.1 pQ43 i
62,870
41,963
66, 133
42, 770
14,800
9,871
15,375
10,231
1,478
1,922
336
273
441
329
436
510
516
474
423
334
322
2,936
1,935
2,779
2,863
2,850
2,937
3,297
3,015
3,651
211 o
3,249
2 371
3,207
2 355
11, 426
8,004
12,898
8,543
2,775
9 1 A*?
P95.8
?42 0
^53 7
26 5
^27.2
—6 1
41.7
122
8
4
4
56 i 25 16
15
9 27
00
4 69
4 58
15
57.76
2.46
1.71
2.57
1.49
17.36
14.60
2.75
58.61
2.52
1.56
2.59
1.10
18.36
15.03
3.32
232.19 232.49
-53 591 -59, 307 -65,406 -14, 129 -14, 477 -14, 795 -14,943 -15,093 -15, 444 -16, 639 -17, 042 -16, 285 -18, 937 -18,894
-35 796 -39, 799 -45, 459 -9, 381 -9, 731 -9, 831 -9, 968 -10, 269 -10, 728 -11, 722 -11, 951 -11, 058 '-13,478 '•-13,388 » -13,940
-4 856 -4, 852 -4, 816 -1,251 -1, 180 -1, 259 -1, 210 -1, 203 -1, 175 -1, 214 -1, 198 -1, 230 -1,218 -1, 232
Payments of income on foreign investments in the
139 -1, 106 -1, 304 -1, 356 -1, 387 -1,397e
U.S
mil. $.. -4, 564 -5, 167 -4, 903 -1, 315 -1, 344 -1, 322 -1, 284 -1, 217 -1,
9 A(Y>
9 SQ7
9 ^RQ
9 (\A.~\
9 Q'lO • 9 9J7 \
—8, 376 —9, 491 —10,227
Other services.
do
r-1,188
-537
r-1,561 p-1, 100
91
36
989
712
1,136
967
671
727
898
3 563
1 911
-472 -1,494 -1,673 -1,929
289 -1,012
734
737
193
490
2,164 -2,689
500
'621
Merchandise, ad lusted, excl. military
do
paid by consumers, and personal transfer payments to foreigners.
§ Personal saving is
•• Revised.
f Preliminary.
» Estimates (corrected for systematic biases) for Julyexcess of disposable income over personal outlays.
Sept, and Oct.-Dec. 1972 based on expected capital expenditures of business. Expected exIfData for individual durable and nondurable goods industries components appear in the
penditures for the year 1972 appear on p. 17 of the Sept. 1972 SURVEY.
«Includes comMar., June, Sept., and Dec. issues of the SURVEY.
d"More complete details appear in the
munication,
f See corresponding note on p. S-l.
9 Includes inventory valuation
quarterly reviews in the Mar., June, Sept., and 'Dec. issues of the SURVEY.
adjustment.
© Personal outlays comprise personal consumption expenditures, interest
STJRVEY OF CURRENT BUSINESS
November 1972
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown in
the 1971 edition of BUSINESS STATISTICS
1969
1970
IV
III
Annual total
1971
1970
1969
1971
S-3
I
II
Ill
IV
I
II
1972
IV
III
lr
HT
III*
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
U.S. BALANCE OF INTERNATIONAL
PAYMENTS— Con.
Quarterly Data Are Seasonally Adjusted
Unilateral transactions (excl. military grants), net
mil. $._
Balance on current account
.
do__
Long-term capital, net:
U S Government
do
Private
do_.
Balance on current account and long-term capital
mil. $._
Nonliquid short-term private capital flows, net
mil. $._
Allocation of special drawing rights (SDR) do
Errors and omissions net
do
Net liquidity balance
Liquid private capital flows, net
Official reserve transactions balance
Changes in:
Liabilities to foreign official agencies:
Nonliquid
Liquid
U.S. official reserve assets, net
Lquiidity balance, excluding SDH
-2, 946
-1,035
-3,207
356
-3,574
-2,847
-702
-40
-747
-76
-765
133
-773
194
-821
168
-849
-137
-791
345
-1,926
-50
-2,018
-1,398
-2, 378
-4, 149
-708
-379
-192
675
-462
-922
-563
-236
-324
-191
-670
-49
-702
-922
-3,011
-3,059
-605
-347
-856
-56
217
-410
42
217
-677
-221
216
-37
-482
867
"-27470" -1,174
-640
-9,374 -1,127
-2,420
717
-10,927
-942
do
do
do__
-6, 122
8,824
2,702
-3,851 -22,002 -2,074
-5, 988 -7,763
1,578
-9,839 -29, 765
-496
do
do__
do
_do
-998
-517
-1, 187
-6,958
-275
-198
-515
7,637
27, 615
1,697
2,348
-686
2,477
-4,741 -23, 989 -2,458
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown in
the 1971 edition of BUSINESS STATISTICS
1970
1971
Annual
407 -1,251
-204
203
-247
217
-51
-558
-584
-1,605 -1,883
Oct.
-533
-343
260 -1,077
-134
659
-1,279 -2, 999 -3, 296 -1,802 -3, 584 -1,917
-534
-315
-883
-688
180
179
179
179
-944 -2,586 -5,380 -2, 018
-538
412
178
178
850 -1,077
177
406 -1,332
-854
-765
-898 -2,577 -5,721 -9,380 -4, 329 r-3,115 '-2,247 -4, 531
574 -1,461 -1,211 -1,104 -2, 212 -2,848
-745 -2,551 -1,619 r-141 ' 1,397
-138
980 -2, 793 -2,065 -1,869 -3, 110 -5,425 -6,466 -11,931 -5,948 -3, 256 '-850 -4, 669
-420
-145
-681
2,949
-154
264
403 -1,684
r
500
-245
-111
-209
-182
-168
501
f-25
361
92
760
1,530
2,397
4,952 5,975 10, 919 5,774 ' 2, 326 r 1, 056
4,632
805
584
824
682
429
659
1,194
-187
-231
-55
-722 -1,231 -1, 103 -3,238 -5, 973 -10,296 -4,487 -3, 484 '-2,181 -5, 164
1971
Sept.
-946
-992
-990
-895
-855 -1,529 -2, 164 -2, 442
-846
-810
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.?
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME, BY SOURCE f
Seasonally adjusted, at annual rates:
Total personal income
bil. $
806.3
861.4
872.2
874.8
879.4
890.4
898.9
908.5
913.6
919.4
924.0
922.9
932.9
940.0 ' 946. 8 962.0
Wage and salary disbursements, total- -do _
Commodity-producing industries, total-do
Manufacturing _ _
__ __ __do _
Distributive industries
do
541.9
201.0
158.3
129. 2
572.9
206. 1
160.3
138.2
577. 9
206.9
160.4
140.2
579.9
207.9
161.3
140.4
583.4
208.8
161.7
140,8
594.3
213.1
165.1
143.8
602.6
214.8
165.8
145.5
609.0
217.7
169.3
148.1
612.4
220.1
171. 3
148.0
617. 6
221.7
173.3
149.4
619.9
222.5
173.8
149. 4
624.0
223.5
175.0
151.4
625.7
222.4
174.5
151.9
630.6
225.2
176.6
152.3
Service industries
Government
Other labor income
Proprietors' income:
Business and professional
Farm
.
.
do
do _
do__
96.7
115.1
32.1
105.0
123.5
36.5
106.8
124.0
37.5
107.5
124.0
37.8
108.2
125.5
38.0
109.4
128.0
38.3
111.2
131.2
38.5
111.6
131.7
38.8
112.8
131.5
39.1
113.9
132.5
39.5
114.7
133.2
39.8
115.5
133.6
40.1
116.9
134.5
40.5.
117.3
135.8
40.8
do
do
49.9
16.9
52.6
17.3
53.4
17.9
53.6
18.0
53.8
18.1
53.9
18.1
54.0
18.6
54.1
19.1
54.7
19.5
54.9
19.1
55.3
18.7
53.2
18.4
55.7
18.6
5B.3
19.1
23.3
24.8
65.8
79.5
24.5
25.4
69.6
93.6
24.9
25.5
70.5
96.1
24.9
25.5
70.5
96.2
25.0
25.5
70.6
96.8
25.1
24.6
70.7
97.6
25.1
26.0
70.8
97.6
25.2
26.1
71.0
100.0
25.3
26.0
71.3
100.1
25.5
26.1
72.0
99. 7
25.6
26.3
72.7
100.9
21.5
26.3
73.4
101.3
25.8
26.4
73.5
102.2
-
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__ _
28.0
31.2
31.5
31.6
31.8
32.3
34.3
34.7
34.8
35.0
35.1
35.3
35.5
782.8
837.2
847.6
850.0
854.5
865.0
873.4
882.4
887.1
893.4
898.3
897.5
907.3
' 636. 0
' 227. 8
* 178. 8
' 153. 0
641.5
230.1
180.9
154.6
118.2
137. 0
41. 1
119.1
137.7
41.4
56.7
19.5
57.0
19.5
26.5
26.5
73.3
103. 2
27.0
26.7
73.7
111.4
r
26.3
26.6
73.4
102.8 '
35.8
36.0
36. 3
914.0 ' 920. 3
935.6
FARM INCOME AND MARKETINGS t
Cash receipts from farming, including Government
payments total J
- mil. $
54, 239
56,208
4,944
6,477
6,306
5,432
4,792
3,798
3,848
3,619
3,767
3, 985
7,303
5, 423
9,217
do
do
-do
do
do__ _
do
50, 522
20, 907
29, 615
6,533
18,497
4,305
53,063
22, 609
30,454
6,815
19, 390
4,000
4,888
2,153
2,735
548
1,807
361
6,405
3,438
2,967
573
2,025
352
6,267
3,494
2,773
561
1,853
343
5,157
2,598
2,559
598
1,593
343
4,741
2,121
2,620
594
1,706
296
3,781
1,193
2,590
556
1,722
289
3,835
1,065
2,770
614
1,801
334
3,498
947
2,551
601
1,629
295
3,750
920
2, 830
621
1,877
304
3,968
1,152
2,816
596
1,857
334
4,398
1,679
2,719
582
1,803
316
4,810
1,857
2,953
584
1,972
376
5,420
2,346
3,074
585
2,082
387
7,141
3,697
3,445
598
2,452
376
Indexes of cash receipts from marketings and CCC
loans, unadjusted: t
All commodities
1967=100 _
Crops
do__
Livestock and products
do
118
113
122
124
123
126
137
140
135
180
224
147
176
227
137
145
169
127
133
138
130
106
77
128
108
69
137
98
62
126
105
60
140
112
75
139
124
109
134
135
121
146
152
153
152
201
241
170
Indexes of volume of farm marketings, unadjusted: $
All commodities
1967=100__
Crops
do
Livestock and products
do__
108
112
104
111
115
107
124
136
115
161
212
122
162
225
114
131
167
105
117
137
102
86
71
97
86
60
106
78
48
101
81
46
108
91
69
107
102
102
102
109
109
110
118
127
111
161
214
122
1967=100.. » 106. 7
104.5
do
110.3
do
99.9
- - do
104.7
do
96.3
do
P106. 8
110.3
110.3
107.7
104.5
106.6
110.3
111.6
113.6
113.4
116.5 ' 109. 2 '115.4 '119.6
120.5
104.7
115.7
119.5
107.4
89.4
110.6
124.2
128.7
113.4
91.7
109.7
123.0
135.9
116.3
91.1
105.9
117.2
123.9
109.7
90.1
101.2
109.9
102.5
101.4
89.0
104.4
115.7
120.7
108.5
88.6
107.7
119.4
126.5
114.2
91.4
108.3
119.2
126.3
114. 1
93.1
110.2
122.4
138.2
118.7
93.2
108.5
119.6
132.6
113.2
93.1
113.3 "•106.3 ' 112. 5 ' 117. 7
126.0 ' 117.0 ' 126. 8 ' 132. 4
133.5
92.8
106.5
136.7
120.6 ' 107. 1 ' 120. 1 ' 123. 8
95.6 '91.4 '92.5 '97.0
117. 6
131.9
147.1
127.0
97.7
do
107.7
107.4
107.3
108.2
107.6
106,9
108.3
112.4
114.5
116.6
117.7
118.7 '109.4 * 115. 9 '119.3
121.3
do
do
105. 2
101.5
110.3
105.2
99.4
113.5
108.8
101.0
120.0
109.7
102.4
120. 2
106.8
99.8
116.8
102.7
97.1
110.9
104.7
99.2
112.6
109.0
103.8
116.4
110.5
105.5
117.8
112.7
107.5
120.2
112.7
107.6
120.0
115.7
109.4
124.9
Farm marketings and CCC loans, total
Crops
Livestock and products, total 9 __ _
Dairy products
Meat animals _
Poultry and eggs
INDUSTRIAL PRODUCTION &
Federal Reserve Board Index of Quantity Output
Unadjusted total index cT
By market groupings:
Final products
Consumer goods
Automotive products
Home goods and clothing
Equipment
Materials
By industry groupings:
Durable manufactures
Nondurable manufactures
118.0
118.9
122.8 114.2
113.9
Mining and utilities
do
tSeides revis ed
••Revised.
» Preh'minary.
fSee correspond^ig note o a p. S-l
beginning 1969; monthly data prior to May 1971 appear in the ]Farm Inc ome Sitilation, Jiily
9 [n1972, available from the U.S. Dept. of Agriculture, Economic Research Servi se.
eludes data for items not shown separately.
r
r
107. 0 ' 113. 7 '118.4
100. 2 r 105. 4 ' 111. 2
116.9 ' 125. 7 ' 128. 8
119.9
113.1
129.9
118.1 121.0
120.4
121.1
120.7
122. 9
120.0
124.6 r 1 9Q Q ' 129. 1 125.1
cfSe ties revised back to 1970 t o reflect new sea sonal ad ustment factors and production
levels, Monthlyr revisioiis for sea sonally a djusted data are availabl e upon r equest; t hose for
unadji isted dai a will be shown liiter.
SURVEY OF CURRENT BUSINESS
S-4
1970
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown in
the 1971 edition of BUSINESS STATISTICS
1971
1971 P
Sept.
Annual
November 1972
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
113.4
July
Aug.
Sept.
Oct.p
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION*— Continued
Federal Reserve Index of Quantity Output— Con.
Seasonally adjusted total index t_
By market groupings: J
Products total
Final products
Consumer goods
106.7
106.8
107.1
106.8
107.4
108.1
108.7
110. 0
111.2
112.8
113.2
106.0
104.5
110.3
106.4
104.7
115.7
107.0
105.5
116.7
107.0
105.4
116.6
107.9
106.1
118.0
108.0
106.2
118.0
108.4
106.4
118.5
109.5
107.6
119.6
110.1
108.2
119.6
111.4
109.8
122.0
112.1
110.2
122.2
104.8
99.9
86.6
125.6
115.1
119.5
108.3
140.9
117.1
122.9
108.0
151.5
116.8
121.9
107.8
149. 0
116.0
119.7
109.2
140.1
117.4
119.9
109.4
140.0
117.5
116.6
102.8
143.4
120.3
119.5
106.4
144.5
118.9
119.3
104.6
147.5
125.9
128.9
114.3
157.0
125.3
127.4
111.3
158.3
' 113. 9 '115.0 ' 115. 7 116.7
112.2 ' 113. 5 ' 113. 9 115.1
112.0
110.1 '111.3 '111.9
110.1
113. 0
122.1 '122.0 ' 123. 3 ' 123. 9 124.9
128.0 ' 123. 9 ' 125. 2 '126.3 128.0
126.0 ' 126. 3 131. 3
124.7
125. 7
109.5
108.2
109.6
108.2
116.9
157.9 ' 158. 2 158.9
156.9
159.3
107.6
do
103.4
do
do. . . . 108.4
112.6
111.5
117.2
113.8
110.4
121.9
113.9
109.7
120.7
113.8
110.5
122.2
116.0
116.9
120.4
118.1
123.8
121.7
120. 7
123.1
126.1
118.7
115.1
127.1
124.2
132.2
131.3
124.3
129.3
132.0
126.1 '123.5 '124.7 ' 126. 3
121.6 '119.6
122.5
125.9
136.2
132.6
134.0
138.0
112.4
101.3
115.4
110.6
120.4
116.0
101.4
119. 8
113.6
126.3
116.5
103.6
119.9
114.1
126.1
116.6
103.2
120.2
113.9
126.7
118.8
103.7
122.8
117.2
128.6
118.4
105.0
121.9
115.5
128.7
119.0
105.8
122.5
115.4
129.8
119.3
102.7
123.7
115. 5
132.4
119.9
105.0
123.9
116.3
132. 0
120.5
105.0
124.6
116.8
132.8
121.0
106.2
124.9
117.2
133.1
120.6
106.8
124.3
116.8
132. 2
' 122. 7
109.4
' 126. 2
'118.4
' 134. 3
'123.0
123.7
' 126. 6
' 118. 5
' 135. 1
127.3
U8.7
1136.3
96.3
101.4
98.4
95.9
91.9
89.4
96.8
92.9
92.9
82.6
89.8
98.2
93.2
96.6
82.1
89.8
98.2
93.5
95.5
83.1
89.6
97.9
94.2
95.2
83.5
89.6
98.0
94.2
94.0
83.8
89.5
98.4
94.1
98.0
82.4
90.9
99.9
95.4
99.6
83.4
92.4
101.3
96.3
101.2
84.5
92.7
101.3
95.7
98.4
84.9
93.4
102.5
96.3
97.0
85.9
94.6
93.3 '93.4
102.4 ' 102. 1 ' 103. 7
97.2 '96.7 '98.4
98.3 '98.0 ' 101. 9
86.7
88.0
87.1
'95.1
' 104. 3
'99.1
' 103. 0
'88.7
96.4
106. 2
100. 6
103.5
90.5
104.8
112.6
94.4
101.2
110.0
89.4
104.0
113.1
90.8
103.6
112. 2
91.1
102.1
110.2
89.4
102.4
109.4
93.1
103.3
109.1
95.1
105.1
111.9
94.7
107.0
114.7
95.4
107.6
114.1
97.0
109.6
116.4
98.9
108.4
116.7
94.4
108.3 '109.8 ' 110. 2
118.5
117.3
120.9
'92.5 '93.0 '92.9
112.6
1^2.2
$7.5
'79.5
80.0
...1967=100..
do
do
do
-
Durable consumer goods
Automotive products
Autos
Auto parts and allied goods
Home goods 9
-Appliances TV and radios
Carpeting and furniture
:
do
. do
do
do
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 farmeq9 do .
Commercial equipment
do
Transit equipment
..do
Defense and space equipment
Intermediate products
C onstruction products
Misc intermediate products
-
do
87.9
77.1
76.0
75.7
75.9
75.6
74.8
76.0
77.6
78.5
78.2
do
do
do
111.7
110.0
113.0
112.6
112.6
112.6
112. 3
111.5
112.9
113. 2
112.8
113.5
114.3
114.2
114.4
114.9
115.2
114.5
115.9
115.7
116.1
117.0
115.8
118. 0
117.3
115.9
118.5
117.3
116.5
118.0
119.3
118.0
120.4
119.1 ' 120. 5 '121.4 ' 121. 1 122.7
117. 8 '119.8 ' 119. 7 ' 120. 5 122.5
120.2
121.1 ' 122. 8
121.7
107.7
103.3
96.5
94.7
112.5
113.0
116.7
107.4
101.7
104.2
87.1
114.1
116.6
116.3
107.3
100.6
103. 3
87.1
114.7
118. 8
119.5
106.6
102.2
104.1
88.1
115.0
119.0
98.7
106.5
100.5
101.8
87.3
115.9
121.5
104.6
108.4
101.6
104.0
87.9
116.7
123.0
117.6
109.2
103.5
105.1
88.8
116.0
120.8
117.4
110.8
105.8
107. 1
90.7
117.0
121.5
117.7
113.1
107.8
110.2
91.0
119. 8
125.0
118.9
115.0
110. 4
113.8
95.4
120.6
125.9
121.6
115.6
111. 1
112.0
95.3
121.3
127.1
120.7
116.1
111.1
112.0
95.3
122.5
128.5
121.7
'116.8
'111.5
'111.4
'98.2
'r 123. 3
130. 1
123.5
' 117. 6
' 112. 9
'113.5
'97.8
' 123. 9
'131.4
' 120. 8
'118.8
' 115. 4
' 114. 6
' 100. 3
' 123. 2
' 130. 1
' 123. 5
119.6
life. 3
114. 6
100. 8
123.9
131. 0
123.1
do
do
-do
- - do
do
do
do
105.2
101.5
108.1
106.9
105.3
109.8
109.4
105.2
99.4
104.0
100.9
96.6
108.7
107.5
105.7
99.3
99.5
93.8
85.9
108.9
105.9
106.1
100.1
101. 3
96.1
89.4
108.3
107.1
106.0
99.1
98.8
91.4
81.9
109.9
107.1
106.2
99.5
100.6
94.3
85.5
113.1
107.6
107.1
100.4
104.0
102.4
95.2
116.0
106.0
108.5
102.1
105.4
102. 6
95.9
114.4
108. 6
109.7
103.4
107.4
105. 1
98.8
116.6
110.1
111.8
105.8
110.4
110.2
105.5
118.6
110.8
112.3
106.3
112.7
113.5
108.3
121. 6
111.9
112.6
105.8
112.1
111.9
104.9
122.5
112.3
'
'
'
'
113. 2
107. 7
114. 5
114. 9
107. 7
' 119, 1
' 114. 1
' 114. 2
'108.4
' 114. 9
' 113. 9
' 107. 3
123.3
' 116. 1
' 115. 1
' 109. 4
' 116. 9
' 117. 7
'111.8
116.0
110.6
117. 9
119. 0
'115.9
116.7
- - do
do
do
. . do
97.6
100.3
100.5
100.1
94.9
96.2
94.3
98.3
96.2
97.9
97.0
99.0
96.6
98.3
97.4
99.3
95.9
97.8
95.9
99.9
95.6
97.9
94.8
101.3
95.7
98.5
95.1
102.2
98.4
97.3
99. 5 . 100.3
96.2
97.6
103.3
103.2
101.1
102.6
98.6
107.1
101.0
103.0
100.4
105.9
101.6 '102.0
104.8 ' 104. 8
102.9
101.8
108.0 ' 107. 1
90.4
96.9
84.1
110.8
92.9
114.1
72.5
108.5
94.2
115.8
73.4
110.5
94.5
116.0
73.7
111.2
93.4
115.7
72.0
110.4
92.7
116. 1
70.1
109.3
92.0
114.0
70.8
111.3
94.7
117.7
72.7
114.5
95.9
118.8
73.9
114.2
100.4
125.6
76.1
116.1
98.9
122.6
76.1
117.3
97.4
98.2
98.4
119.3 ' 121. 4 ' 121. 6
76.4
75.9 '76.0
119.3 ' 119. 9 ' 120. 9
106.4
106.3
106.4
111.5
113.9
110.0
112.1
114.8
110.6
113.2
118.2
110.1
113.7
119.4
110.4
114.8
121.7
110.7
115.5
122.0
111.6
118.0
119.7
117.0
118.1"
119.6
1.17. 2
118. 1
119. 9
117.1
118.2
119.1
117.5
119.0 ' 119. 1 119.8 '119.3
121.8
121.5 '121.3
121.3
117.4 ' 117, 7 ' 118. 9
118.1
120.1
108.8
do
99.4
do
-do.• . . . 117.3
111.7
102.1
120.5
114.2
105.3
122.2
114.0
104.5
122.6
113.3
105.4
120.5
114.3
103.8
123.9
115.0
104.0
125.1
117.3
108.4
125.4
118.4
108.7
127.2
119.9
111.7
127.4
120.6
110.7
129.6
122.1
112. 8
130.6
123.7 ' 125. 4 ' 125. 7
115.5 ' 117. 6 117.5
131.0 ' 132. 5 133.4
127.3
do
..do
do
do
do
110.6
100.2
106.3
97.8
90.8
113.6
100.7
108.6
97.8
87.4
115.1
102.5
111.0
99.5
87.7
114.7
102.3
110.1
100.0
87.4
115.9
101.8
110.2
99.8
83.3
116.0
103.1
112.6
99.7
87.1
116.8
102. 0
108.9
99.8
89.6
117.8
101.1
107.0
100.1
86.9
118.8
103.7
110.9
102.7
85.4
120.3
106.1
113.5
103.3
94.4
120. 8
104.9
112.8
102.8
89.2
121.3
121.0 ' 122. 6 ' 123. 3
105.9 ' 104. 8 ' 106. 6 ' 108. 2
113.9 ' 112. 7 '115.8
116.7
103.0 ' 102. 2 104.3
92.2 '90.2 '86,5
92.5
do_ -.
do
_.do
107.8
113.3
104.1
107.8
115.8
102.5
108.2
116.2
102.9
109.4
116.9
104.3
110.5
119.2
104.5
110.7
119.8
104.7
111.3
122.2
103.9
112. 6
122.8
105.8
112.6
122.5
105.9
112.3
124.4
104.2
114.1
127.2
105.3
115. 1 ' 115. 2 ' 116. 0 '115.8
126.7 ' 126. 9 ' 126. 5
126.3
107,3
107.2 ' 108. 8 ' 108. 6
118.2
120.3
112.6
115.7
124.8
126.4
115.7
126.0
127.5
129.9
113.7
129.6
126.6
128.4
115.7
129.1
127.9
130.8
116.0
127.7
127.9
130.4
118.3
126.6
129.8
131.2
119.3
133.3
132.6
135.1
118.7
135.0
133.4
135.7
117.9
138.1
136.1
137.9
117.0
144.7
137.5
138.9
119.5
146.5
137.1 ' 137. 4 ' 139. 7 ' 141. 3
139. 5 ' 139. 5 ' 142. 4 ' 144. 1
117.3
121.3
119.5 ' 120.4
145.0 ' 144. 1 146.0
147.4
142.0
145.0
-do
do
110.9
111.7
100.0
113.7
114.9
97. 7
114.2
115.2
100.3
113.3
114.4
98.5
115.8
117.1
98.2
115.0
116.6
93.8
115.7
116.5
103.8
115.9
116. 9
102.5
.116.3
117.5
101.9
117.6
118.6
103.9
117.1
118.5
99.1
117.6
119. 3
96.4
' 116. 8 ' 118. 3 '118.4
' 118. 3 '119.0 ' 119. 2
108.5
96.7
118.9
119.6
do
do
do
do
do
do
-do
do
118.0
109.7
131.3
98.8
109.2
105.7
109.7
109.4
118.9
107.0
121.4
93.2
107,6
99.8
108.9
108.3
118.3
105.9
109.7
90.1
107.9
111.0
107.4
104.7
114.3
97.7
117.1
91.7
96.6
29.5
107.1
105.4
117.4
102.5
136.7
93.4
100.4
55.7
107.4
105.0
120.1
107.8
137.7
92.7
107.1
112.4
106.3
104.2
120.6
107.3
128.9
93.8
107.1
106.3
107.2
104.0
121.6
107.2
133.7
93.5
106.5
99.6
107.6
104.2
122.3
108.5
131.0
92.7
108.6
104.1
109.3
106. 9
122.9
109.0
122.2
92.6
110.0
112.9
109.6
108. 1
122.6
107.9
110.7
91.7
109.9
105.0
110.7
109.5
122. 7
108,2
102. 9
97.4
110. 5
109. 1
110,7
108. 9
'123.2
' 107. 9
'102.2
'91.6
'111.0
'114.4
110.5
107.4
141.1
147.1
140,9
146.8
' 142. 5 '144.1 ' 143. 0
' 148. 6 ' 150. 2 ' 148. 8
Materials
do
D urable 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.-..
By industry groupings :%
Manufacturing total
Durable manufactures
Primary and fabricated metals
Primary metals
Iron and steel
Nonferrous metals
Fabrica ted metal products
Machinery and allied goods 9
Machinery
-Nonelectrical machinery
Electrical machinery
Transportation equipment
do
Motor vehicles and parts
__do
Aerospace and misc trans, eq
do_ -Instruments
do
Lumber, clay, and glass
do
Lumber and products
do
Clay, glass, and stone products.. ...do
Furniture and miscellaneous
Furniture and fixtures. _
Miscellaneous manufactures
Nondurable manufactures
Textiles apparel and leather
Textile mill products
Apparel products
Leather products
Paper and printing
Paper and products
Printing and publishing
._
Chemicals, petroleum, and rubber. ...do
Chemicals and products
_.do
T> Vvlk ^^^ V
i ifh o~irrW? Vihe
f\f\
Foods and tobacco
Foods
Mining and utilities
Mining
Metal mining
Stone and earth minerr^s
Coal, oil and gas
..-.
Coal
Oil and gas extraction
Crude oil
-
134.0
135. 2
136.0
133.9
128.3
Utilities
do
140.6
141.9
138.1 138.6
130.6
Electric
-do
118.7
117. 6
116.7
119. 8
121.0
Gas.
do
'Revised.
* Preliminary.
„
„ „„ . A1 . ..
9 Includes data for items not shown separately.
t Revised data for 1966-71 for the indicated series appear on pp. 24-25 of the Oct. 1972 SURVEY. See also notes marked "J" on pp. S-ll
and S-12.
' 121. 3
' 108. 0
' 124. 8
'116.4
'133.6
126.1
135.8
137. 4
140.2
139.7
139.7
141.9
141.2
144.8
145.6
144.4
115.5
124.7
123.8
% See note marked "cf" on p. S-3.
78.3
78.9
'
'
'
'
102. 9
105. 8
104. 0
107. 7
' 123. 6
' 107. 4
' 114. 8
'92.0
' 108. 9
'97.2
' 110. 8
' 107. 8
'79.7
'
'
'
'
103. 7
106. 7
105. 5
108. 0
104.9
107.2
106.8
107.6
'99.7
102.4
' 122. 7 127.3
'77.5
78.4
' 122. 0 123. 2
124.0
108.6
116.1
109.0
'124.3 124.9
' 109. 2 109.2
123.0
91,4
' 110. 5 110.0
103.9
104.7
'111.4 111.0
108.6
144.6
150.5
SURVEY OF CUKKENT BUSINESS
November 1972
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown in
the 1971 edition of BUSINESS STATISTICS
Annual
1972
1971
1971
1970
S-5
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS SALES §
Mfg and trade sales (unadj.), total t--Mfg and trade sales (seas, adj.), total tManufacturing, totalt
Durable goods industries
Nondurable goods industries
Retail trade totalt
Durable goods stores
Nondurable goods stores.
;
mil. $_. 1,252,885 1,343,166 115,719 116,477 116,683 121,547 107,392 112,864 123,538 120,449 125,502 129,312 116,810 126,133 129, 610
11,252,885 11,343,166 113,450 113,191 115,757 115,630 118,426 118,077 120,669 121,685 122,814 122,283 123,371 126,458 128, 554
--do
do
do
do
i 630,715 1666,959
336, 729 358, 637
293, 986 308, 322
55,682
29,799
25, 883
55,943
30,033
25, 910
57,444
30,792
26, 652
57,740
30,913
26, 827
59,189
31,965
27, 224
59,199 60,335
32,041 32,683
27, 158 27, 652
i 408,850
131, 814
277, 036
35, 219
11,833
23, 386
34,964 35, 574
11, 695 11, 885
23,269 23, 689
34, 896
11, 334
23, 562
34,886
11, 475
23,411
35,345
11,457
23,888
36,450 ' 36, 296 ' 37,141 ' 36,822 37, 342 ' 37,989 37, 683
12,087 ' 11,976 ' 12,280 ' 12,253 12, 468 ' 12,842 12, 598
24,363 ' 24,320 ' 24,861 ' 24,569 24,874 ' 25,127 25, 085
1267,357
122,420
144, 937
22,549
10,425
12, 124
22,284
10, 398
11, 886
22, 994
10, 629
12, 365
24, 351
11, 225
13, 126
23,533
10,696
12,837
23, 884
11,157
12, 727
1 375, 527
do
114, 288
do
do — 261,239
1246,643
--do
111, 778
do
134, 865
do
-
Merchant wholesalers, total.
Durable goods establishments.
Nondurable goods establishments
22, 739
10, 583
12, 156
61,219
33,581
27, 638
24,170
11,246
12,924
61,413
33,705
27,708
24,260
11,256
13,004
61,231 '61,635 ' 63,352 63, 597
33,129 '33,825 ' 34,710 34, 925
28,102 27,810 ' 28,642 28, 672
24,230
11,248
12,982
24, 394 '25,137 25, 274
11, 326 '11,802 11, 878
13,068 ' 13,335 13, 396
BUSINESS INVENTORIES §
Mfg. and trade inventories, book value, end of year
or month (unadj.), total f
mil. $.. 173,435
181,010
179,706 182,132 183,396 181,010 181,867 183,488 185,469 186,896 187,745 187,014 186,141 186,243 187,889
Mfg. and trade inventories, book value, end of year
or month (seas, adj.) , total t
mil. $— 174,942
101,712
Manufacturing, totalt
do
66, 829
Durable goods industries
—do
34,883
Nondurable goods industries
do
46, 626
Retail trade, total f
_
do
20,345
Durable goods stores
do
26,281
Nondurable goods stores . _
.
do
26,604
Merchant wholesalers, total
do
15,565
Durable goods establishments
do
11, 039
Nondurable goods establishments
do
182,842
101, 665 101,413 101,736
65, 874 66, 117 66, 025
35,791 35, 296 35, 711
52, 261 52, 104 52,083
23, 808 24, 143 24,034
28,453 27, 961 28, 049
28, 916 27,814 27,928
17, 254 16, 666 16,786
11, 662 11, 148 11, 142
181,331 181,747 181,852 182,842 183,303 183,826 184,263 184,816 185,953 186,439 186,884 188,409 189, 631
101,699 101,665 101,796 102,161 102,450 102,428 102,822 103,505 103, 888 105,138 105, 285
65, 877 65, 874 66, 187 66, 422 66,604 66, 575 67,035 67,427 67, 645 '68,542 68, 620
35, 822 35, 791 35, 609 35, 739 35, 846 35, 853 35,787 36,078 36,243 '36,596 36, 665
51,916 52, 261 52, 458 52,484 52,639 52,814 53, 402 53,293 52, 940 53, 107 53, 661
23,872 23,808 23, 790 23, 679 23,674 23, 740 23,915 23, 665 23, 194 23, 037 23,608
28, 044 28,453 28, 668 28,805 28,965 29,074 29,487 29,628 29, 746 30, 070 30,053
28, 237 28, 916 29,049 29,181 29, 174 29,574 29,729 29,641 30,056 '30,164 30, 685
16, 899 17, 254 17, 287 17,354 17,357 17,542 17,733 17,780 18, 182 17,984 18,352
11, 338 11, 662 11,762 11,827 11,816 12,032 11,996 11,861 11,874 12,180 12, 333
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, total t
Manufacturing, totalt- - —
Durable goods industries
Materials and supplies
Work in process
Finished goods
-.
-
Nondurable goods industries
Materials and supplies
Work in process . _ ..
Finished goods,—
..
Retail trade, total t
Durable goods stores.
Nondurable goods stores
__
ratio..
1.64
1.60
1.60
1.61
1.57
1.58
1.55
1.56
1.53
1.52
1.51
1.52
1.51
1.49
1.50
do
do
do
do
do____
1.90
2.33
.67
1.07
.59
1.83
2.22
.65
.99
.58
1.82
2.22
.65
.99
.58
1.82
2.20
.64
.98
.57
1.77
2.14
.62
.96
.56
1.76
2.13
.62
.96
.55
1.72
2.07
.60
.93
.54
1.73
2.07
.60
.94
.54
1.70
2.04
.58
.92
.53
1.67
1.98
,56
.90
.52
1.67
1.99
.56
.91
.52
1.69
2.04
.57
.94
.53
'1.69
'2.00
.57
'.91
.52
'1.66
'1.97
'.56
.90
.51
1.66
1.96
.55
.90
.52
-do
do
do
do
1.40
.53
.21
.66
1.37
.51
.21
.65
1.36
.51
.20
.65
1.38
.52
.20
.66
1.34
.51
.20
.64
1.33
.50
.20
.63
1.31
.50
.20
.61
1.32
.50
.20
.62
1.30
.49
.20
.61
1.30
.49
.20
.61
1.29
.49
.19
.61
1.28
.49
.19
.61
1.30
.49
.20
.62
'1.28
.48
.19
.61
1.28
.48
.19
.61
-do
do_
do
1, 47
2.16
1.17
1.47
2.06
1.19
1.48
2.04
1.20
1.49
2.06
1.21
1.46
2.01
1.18
1.50
2.10
1.21
1.50
2.07
1.22
1.48
2.07
1.21
1.44
1.96
1.19
1.46
1.98
1.20
1.44
1.95
.1.19
1.45
1.93
1.21
1.42
1.86
1.20
1.40
'1.79
1.20
1.42
1.87
1.20
1.23
1.61
.92
1.23
1.60
.92
1.23
1.60
.92
1.25
1.61
.94
1.24
1.60
.93
1.26
1.62
.94
1.19
1.54
.90
1.24
1.62
.92
1.22
1.56
.93
1.22
1.56
.93
1.23
1.58
.92
1.22
1.58
.91
1.23
1.61
.91
11
1.20
1.52
.91
1.21
1.55
.92
20,122
21, 583
1,951
1,979
1,793
1,785
1,853
1,819
2,083
1,887
1,788
1,900
1,967
2,029
2,303
2,158
1,955
1,918
2,146
2,063
2,151
2,097
'1,997
'2,201
2,111
2,145
Merchant wholesalers, total-do
Durable goods establishments
do__._
Nondurable goods establishments
do
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Manufacturers' export sales:
Durable goods industries:
Unadjusted, total
mil. $
Seasonally adj total
do
Shipments (not seas, adj.), totalt
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments and related products
N ondurable goods industries, total 9
Food and kindred products
_
Tobacco products
Textile mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products.
Rubber and plastics products
Shipments (seas, adj ) totalt
By Industry group:
Durable goods industries total 9 1
Stone clay and glass products
Primary metals
Blast furnaces, steel mills
Nonferrcus metals
630,715
666,959
58,199
58,031
57,309
55,321
55,032
59,865
62,380
62,016
62,048
65,193
56,358 ' 61,485 66, 736
336, 729
do
16, 874
do
do _. 53, 242
25, 032
do
21, 423
do
39,220
do ___
do__ _ 55, 859
48, 137
do
do _ _ 75, 451
42,537
do
do__ _ 11, 724
358,637
19, 766
55, 083
26,656
21, 312
31,029
1,813
3,964
1,574
1,760
30,983
1,827
4,149
1,736
1,774
30,679
1,744
4,337
1,959
1,780
29,696
1,575
4,209
1,959
1,693
29,535
1,628
4,565
2,157
1,796
32,611
1,780
4,880
2,323
1,895
34,285
1,928
5,211
2,530
1,976
34,376
1,968
5,418
2, 636
2,065
34,611
2,079
5,313
2,594
2,005
36,047
2,154
5,491
2,641
2,085
29, 895
1,973
4,700
2,268
1,800
32,590 '36,778 236,934
2,274
'2,260
5,135 '5,546 25,530
2,648
'2,477
2,166
' 1, 969
38,478
58, 830
50, 041
84,603
54,786
11, 665
3,433
5,272
4,489
7,248
4,900
1,073
3,317
5,043
4,413
7,482
5,087
1,039
3,239
4,801
4,380
7,641
5,059
999
3,088
5,127
4,544
6,822
4,151
990
2,950
4,929
4,274
6,983
4,733
903
3,252
5,457
4,611
7,974
5,338
947
3,372
5,788
4,793
8,190
5,390
1,002
3,481
5,764
4,613
8,120
5,426
1,016
3,463
5,681
4,521
8,407
5,489
1,014
3,647
6,104
4,952
8,291
5,530
1,068
3,113
5,083
4,299
5,977
3,410
989
3,712
'3,490
5,897
'5,303
5,113
' 4, 687
'
8, 698 2 9, 132
6,328
5, 855
' 3, 596
1,115
'1,047
293, 986
do
do.___ 97, 648
5,346
do
22, 338
do
24, 659
do
49, 253
do
24, 846
_ do
15, 388
do
308, 322
101, 737
5,776
24, 472
27, 170
8,920
512
2,181
27, 048
8,854
493
2,358
26, 630
8,932
498
2,158
25,625
8,883
479
2,077
25, 497
8,449
487
1,994
27, 254
8,874
493
2,185
28, 095
9,117
503
2,415
27, 640
8,832
489
2,277
27, 437
9,050
520
2,244
29,146
9,575
547
2,581
25, 362
52, 170
25, 777
16, 249
2,226
4,739
2,160
1,420
2,196
4,427
2,193
1,445
2,144
4,326
2,157
1,342
2,077
4,026
2,149
1,314
2,216
4,381
2,186
1,346
2,352
4,622
2,259
1,444
2,393
4,781
2,260
1,537
2,349
4,938
2,321
1,540
2,332
4,819
2,233
1,500
2,473
5,014
2,363
1, 548
do
55,682
55,943
57,444
57,740
59,189
59,199
60,335
61,219
61,413
61,231
do
do
do
do
do
29,799
1,672
4,009
1,660
1,731
30,033
1,706
4,263
1,889
1,763
30,792
1,775
4,565
2,146
1,805
30,913
1,763
4,610
2,189
1,817
31,965
1,880
4,704
2,192
1,871
32,041
1,930
4,798
2,305
1,851
32,683
1,969
4, 933
2,380
1,882
33,581
1,929
5,032
2,397
1,957
33,705
2,017
4,930
2,358
1,872
33,129 '33,825 r QA 71 H 35,037 35, 845
1,971 1,988 ' 2, 125 2,097
4,960 5,103 5,393 ' 5, 638 2 5, 724
2,306 2,370 '2,564 2,793
1,934
2,047 ' 2, 092 2,127
do ._
Durable goods industries, total 9 1
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
Nonferrous metals
.
3,261 3,210 3,277
Fabricated metal products
do
5,148 5,101 5,057
Machinery, except electrical
do
4,181
4,192 4,258
Electrical machinery
do
7,072 7,070 7,235
Transportation equipment
do
4,716 4,647 4,726
Motor vehicles ancl parts
do
986
999
977
Instruments and related products
do
r
Revised.
1 Based on data not seasonally adjusted.
2 Advanceestimate total m frs.
shipments for Sept. 1972 do not reflect revisions for selected components,
§The term "b usiness" here includes only manufacturing and trade; business inventorie s as sho'wm on p. S-l
cover data for all types of producers, both farm and nonfarm. Unadjusted data for manufad tur-
1,738
1,951
26,463 ' 28,895 30,084
8,893 ' 9, 450 10,070
519
540
540
2,039 '2,434 2,538
2,227
4,385
2,348
1,319
'2,420
' 4, 808
' 2, 408
'1,521
2,474
4,979
2,461
1,625
' 63,352
63,597
3,196 3,241 3,252 3,335 3,447 3,444 3,397 3,323 '3,460 3,525
5,280 5,274 5,191 5,328 5,549 5,564 5,597 5,564 '5,666 5,752
4,498 4,784 4,622 4,695 4,783 4,670 4,604 4,679 ' 4, 751 4,749
6,844 7,381
7,512
7,537 7,869 7,938 7,487 '8,137 ' 8, 159 ' 8, 146 28,640
4,393 4,769 4,895 4,908 5,193 5,074 4,793 '5,326 '5,336 5,289
985 1,004
967
995 1, 044 1,028
992 1,079 '1,042 1,025
ing an5 shown 1 >elow an i on p. S -6; those for whol(jsale and retail tr ade on p p. S-ll a ad S-12.
fSee correspcmding ncte on p . S-4 an<
tSee
i ncte m arked " t" on pr . S-ll a tid S-12.
corres]ponding note on ]p. S-7.
9 Inclu des data for item s not she>wn separately.
SUKVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
|
1971
1971
Annual
November 1972
Sept.
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS^— Continued
Shipments (seas. adj. )t— Continued
By industry group:
NT on (\ iirahlp soods industries total 9
mil $
jb ooa ana
K1 a
^ +
"
Ohpmicals and allied products
By market category :t
xiome gooas a ._**""
25,883
8,421
492
2,052
2,152
4,497
2,143
1,403
25,910
8,469
499
2,134
2,132
4,359
2,189
1,387
26,652
8,853
499
2,104
2,176
4,454
2,164
1,389
26,827
8,951
484
2,174
2,184
4,490
2,140
1,421
27,224
8,986
526
2,182
2,305
4,643
2,206
1,444
27,158
9,000
525
2,216
2,318
4,551
2,222
1,420
27,652
9,077
519
2,331
2,317
4,671
2,318
1,478
27,638
9,026
501
2,338
2,342
4,680
2,359
1,464
27, 708
9, 195
511
2,294
2,343
4,635
2,248
1, 456
28,102
9,288
505
2,445
2,365
4,782
2,281
1,442
27,810 r 28,642
9,210 r 9, 485
505
517
2,337 "2,372
2,376 '2,407
4,693 r 4, 852
2,370 '2,397
1,426 r I, 547
28, 672
9,491
518
2,392
2,389
4,755
2,435
1,605
61, 171 i 67, 077
126,351 131,852
193,654 i 94, 935
i 51, 357 162,573
do -- i 50, 733 i 57, 438
247, 449 253,084
do
5,581
11,010
8,036
5,363
4,899
20, 793
5,609
11,030
8,094
5,268
4,921
21, 021
5,999
11,451
8,058
5,376
5,065
21,495
6,042
11,567
8,292
5,057
5,067
21, 715
5,970
11,611
8,531
5,444
5,183
22, 450
5,934
11,663
8,296
5,638
5,252
22, 416
6,055
11,764
8,635
5,669
5,370
22, 842
6,231
11,662
8,836
5,946
5,389
23, 155
6,242
11, 918
9,017
5,835
5, 496
22, 905
6,235
11,994
8,890
5,526
5,447
23,139
6,123 r 6, 358
11, 802 12,205
8,934 ' 8, 968
' 6,020 ' 6, 117
5,442 r 5, 632
23,314 24,072
6,368
12, 137
8,938
6,069
5,635
24,450
2,442
9,406
7,766
1,640
2,420
9,445
7,769
1,676
2,606
9,489
7,794
1,695
2,720
9,801
8,243
1,558
2,654
10,149
8, 398
1,751
2,674
9,946
8,182
1,764
2,758
10,138
8,404
1,734
2,883
10,320
8,574
1,746
2,913
10,448.
8,694
1,754
2,841
10,389
8,750
1,639
2,902
10, 480
8,677
1,803
0*0
do
^
Equipment and defense prod., excl. auto.do
Construction materials and supplies
Other materials and supplies
Supplementary series :|
' 3, 034 ' 3, 000 2 2, 986
10,564 10,632 2 10,948
' 8, 872 ' 8, 815 28,999
r 1, 692 ' 1, 817 2 1,949
do
do
^^
i 25, 552
1111,522
i 87, 636
i 23, 886
i 28, 995
1111,652
i 90, 049
i 21, 603
do
do.
do
101,374
66, 425
34, 949
101,293
65,446
35, 847
100,485 101,062 101,183 101,293 102,098 102,685 102,856 103,251 103,777 103,669 103,446
65, 656 65, 544 65, 461 65, 446 66, 134 66, 645 66, 894 67, 181 67,682 67,570 67,485
34, 829 35, 518 35, 722 35,847 35, 964 36, 040 35, 962 36, 070 36,095 36,099 35, 961
104,682 104, 305
68,444 68, 137
36,238 36, 168
101, 712
101, 665
101,413 101,736 101,699 101,665
101,796 102,161 102,450 102,428
102,822 103,505 103, 888
105,138 105, 285
66, 829
2,293
9,148
4,951
3,324
65, 874
2,279
9,205
4,901
3,463
66, 117
2,301
9,229
4,959
3,418
66, 025
2,304
9,267
4,957
3,463
65, 877
2,284
9,174
4,865
3,473
65, 874
2,279
9,205
4,901
3,463
66, 187 58 , 422
2,257
2,253
9, 396
9,328
5,062
5,123
3,432
3,439
66, 604
2,234
9,506
5,194
3,459
66, 575
2,272
9,553
5,247
3,446
67,035
2,260
9,600
5,284
3,456
67,427
2,282
9,696
5,370
3,463
67,645 68,542 68, 620
2,285 '2,337
2,364
9,709 ' 9, 759
9,742
5,392 r 5, 385
5,385
3,459 ' 3, 504 3,479
7,156
13, 984
10, 158
15, 775
4,203
2,456
7,268
13, 497
9,837
15, 179
3,933
2,452
7,576
13,665
9,857
15, 000
3,999
2,385
7,577
13, 629
9,809
14,897
3,938
2,417
7,379
13, 637
9,823
14, 991
3,938
2,452
7,268
13, 497
9,837
15, 179
3,933
2,452
7,345
13, 446
9,797
15, 279
3,949
2,512
7,374
13, 400
9,837
15, 419
4,039
2,538
7,289
13, 356
9,872
15, 553
4,091
2,507
7, 122
13, 390
9,888
15, 536
4,086
2,510
7,185
13,396
9,968
15,722
4,128
2,539
7,220
13,445
9,986
15, 919
4,140
2,486
7,157
13,442
10,046
15, 999
4,213
2,541
r 7, 340
13,534
10, 154
16,477
r 4, 523
' 2, 551
7,394
13, 696
10, 250
16, 111
4,215
2,587
Primary metals
do
Machinery (elec. and'nonelecf)— do
Transportation equipment
do
19,063
3,231
6,220
3,363
19, 146
3,495
6,250
2,937
19,367
3,444
6,286
2,969
19, 208
3,406
6,196
3,005
19, 118
3,416
6,245
2,963
19, 146
3,495
6,250
2,937
19, 138
3,571
6,262
2,755
19, 098
3,605
6,229
2, 797
18,979
3,596
6,213
2,805
18,939
3,542
6,237
2,810
18, 995
3,528
6,250
2,814
18, 804
3,543
6,180
2,728
19, 256
3,499
6,208
2,789
19,519
'3,468
' 6, 262
r 2, 969
19, 221
3,313
6,397
2,831
Work in process 9
do_ _
Primary metals
do
Machinery (elec. and nonelec.)._-do
Transportation equipment
do
30,332
3,217
10, 862
10,895
29, 645
3,044
10, 271
10,868
29,543
3,157
10,376
10,606
29,564
3,159
10,390
10, 490
29,648
3,098
10,391
10, 619
29, 645
3,044
10, 271
10, 868
29, 863
3,072
10, 167
11, 131
30,058
3,100
10, 198
11,232
30,231
3,182
10, 192
11, 367
30, 240
3,257
10, 210
11, 346
30,562
3,282
10, 290
11, 496
30, 982
3,329
10,402
11,779
30,786 31,153 31, 304
3,285
3,354 '3,400
10,384 ' 10,521 10, 596
11, 779 11,832 11, 803
Finished goods 9
do
Primary metals
do
Machinery (elec. and nonelec.)_..do__.
Transportation equipment
do
17,434
2,700
7,060
1, 517
17,083
2,666
6,813
1,374
17, 207
2,628
6,860
1,425
17, 253
2,702
6,852
1,402
17, 111
2,660
6,824
1,409
17, 083
2,666
6,813
1,374
17, 186
2,685
6,814
1,393
17, 266
2,691
6,810
1,390
17,394
2,728
6,823
1,381
17,396
2,754
6, 831
1,380
17, 478
2,790
6,824
1,412
17,641
2, 824
6,849
1,412
17,603 ' 17,870
2,856 ' 2, 891
6,896 ' 6, 905
1,431 ' 1, 676
34, 883
8,740
2,106
3,564
2,764
6,743
2,252
2,142
35, 791
9,169
2,235
3,622
2,772
6,693
2, 266
2,151
35, 296
8,936
2,119
3,629
2,753
6,653
2,306
2,065
35, 711
9,184
2, 141
3,666
2,773
6,669
2,317
2,115
35, 822
9,137
2,170
3,730
2,817
6,622
2, 310
2,117
35, 791
9,169
2,235
3,622
2,772
6,693
2,266
2,151
35, 609
9,061
2,256
3, 636
2,743
6,667
2,235
2,175
35, 739
9,153
2,240
3,642
2,734
6,656
2,215
2,165
35, 846
9,109
2,240
3, 728
2,747
6, 691
2,185
2,199
35, 853
9,111
2,260
3,780
2,731
6,648
2,199
2,230
35, 787
8,987
2,231
3,817
2,749
6,663
2,208
2,274
36,078
9,156
2,206
3,812
2,742
6,690
2,213
2,252
36,243
9,279
2,196
3,834
2,743
6,717
2,228
2,252
13, 172
5,239
16, 472
13,526
5,340
16,925
13,243
5,282
16, 771
13,398
5,302
17, Oil
13,462
5,322
17, 038
13,526
5,340
16, 925
13,526
5,354
16,729
13,659
5,363
16, 717
13,468
5,555
16,823
13,499
5,462
16, 892
13, 464
5,381
16, 942
13,635
5,412
17,031
13,596 ' 13,671
5,433 '5,492
17, 214 ' 17,433
13, 738
5,548
17, 379
10, 466
13, 334
27, 026
5,464
7,976
37, 446
10, 851
13, 978
26, 347
5,240
8,178
37, 071
10,766
13,755
26,251
5,264
8,309
37,068
10,825
13,846
26,156
5,212
8,362
37,335
10,931
13,810
26,248
5,214
8,239
37,257
10,851
13,978
26,347
5,240
8,178
37,071
10,830
13,915
26,393
5,273
8,233
37,152
10,890
13,986
26,530
5,358
8,202
37,195
10,957
13,916
26,562
5,419
8,172
37,424
10,960
13,901
26,523
5,413
8,118
37,513
11, 113
13, 780
26, 597
5,499
8,164
37,669
11, 288
13, 931
26,744
5,533
8,181
37,828
11, 372
14,071
26, 800
5,633
8,174
37,838
' 11,465
' 14,262
' 27,026
'5,974
' 8, 287
' 38,124
11, 545
14,350
27, 193
5,652
8,421
38, 124
4,972
30, 565
24, 623
5,942
4,974
29,664
24,313
5,351
4,977
29,600
24,718
4,882
5,001
29,535
24,552
4,983
4,990
29,594
24,509
5,085
4,974
29,664
24,313
5,351
5,023
29,673
24,296
5,377
4,956
29,792
24,314
5,478
5,003
29,858
24,226
5,632
5,029
29,824
24,208
5,616
5,171
29,939
24,326
5,613
5,220
30, 116
24,476
5,640
5,277
30, 138
24,453
5,685
' 5, 294
5,334
' 30,396 30, 547
' 24,661 24,785
' 5, 735
5,762
619, 952
325, 949
294, 003
665,678
357, 214
308, 464
57, 877
30, 774
27, 103
58,317
31, 176
27, 141
57, 542
30, 856
26, 686
55, 663
30, 026
25, 637
56, 620
31, 043
25, 577
61, 034
33, 568
27, 466
63, 059
34, 838
28, 221
62,498
34, 780
27, 718
61, 727
34, 254
27,473
66, 733
37, 592
29, 141
57, 930 ' 62,112 68,476
31,457 33,238 ' 38,447 2 37,662
26,473 ' 28,874 30, 107
Capital goods industries'^
Nondefense
Defense
Inventories, end of year or month:!
Book value (unadjusted), total
Durable iroods industries total
Nondurable goods industries, total
Book value (seasonally adjusted), totalt —.do
By industry group:
A A ,A
Durable coods industries total 9
do
Stone clav and glass products
do
Primarv metals
do
Blastfurnaces steel mills
do
Nonferrous metals
do
Fabricated metal products
do
Machinery, except electrical
do
Electrical machinery
doTransportation equipment
do
Motor vehicles and parts
do
Instruments and related products -.do
By stage of fabrication:*
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__>
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_ _
Capital goods industries cT
do
Nondefense
__do
Defense
_ _do
New orders net (not seas adj ) totali
Durable goods industries, total
Nondurable goods industries total
do
do__.
do
18, 095
3,144
6,953
1,477
' 36,596 36, 665
r 9, 429
9,341
' 2, 272
2,294
' 3, 810
3,773
' 2, 758
2,793
' 6, 728
6,785
' 2, 254
2,277
' 2, 276
2,266
New orders, net (seas, adj.), totalj.
By industry group:
Durable goods industries, total 9
Primary metals. __
Blast furnaces steel mills
Nonferrous metals
__do.__ i 619,952 1665,678
55, 489
56, 290
57, 992
57, 883
59, 871
59, 792
61, 097
61, 685
62, 012
63, 734 ' 62,270 ' 64,409
__do
___do__do _
do
325,949
52, 413
24, 910
21, 173
357, 214
54, 537
26, 362
21,095
29, 653
4,256
1,940
1,692
30,321
4,361
1,985
1,765
31,294
4,608
2,201
1,792
31, 001
4,662
2,250
1,791
32, 554
4,644
2,167
1,858
32,466
4,888
2,391
1,835
33,328
5,243
2,547
2,004
34,005
4,999
2,343
1,994
34,302
5,339
2,659
1,961
35,613 ' 34, 430 ' 35,727 ' 36,851 2 36,633
5,914
5,967
5,442
5,426
2,765
2,711 '3,004 '5,859 25,656
2,221
1,950
1,999 ' 2, 174
Fabricated metal products
Machinery, except electrical.
Electrical machinery
Transportation equipment
Aircraft, missiles, and parts
do
do___
do _
do
do_._
39,024
54, 366
47, 830
68,301
17, 120
37, 805
58,837
50, 398
83,808
19, 273
3,119
5,083
4,355
6,856
1,415
3,057
5,246
4,434
7,152
1,785
3,173
5,237
4,369
7,345
1,817
3,190
5,302
4,371
7,000
1,829
3,261
5,384
4,329
8,366
1,793
3,381
5,254
4,596
7,632
1,490
3,420
5,574
4,694
7,512
1, 891
3,401
5,654
4,833
8,111
2,081
3,373
5,668
4,841
7,867
2,079
do
do...
do
294, 003
76, 883
217 120
308, 464
80, 705
227. 759
25, 836
6,751
19. 085
25, 969
6,914
19. 055
26, 698
6,960
19, 738
26, 882
7,076
19, 806
27, 317
7, 284
20. 033
27, 326
7,438
19. 888
27, 769
7,628
20.141
27, 680
7,533
20. 147
27,710
7,489
20. 221
Nondurable goods industries total
Industries with unfilled orders©.
Tnr!nKt.rif»! without. rmfillp.H nrdfifsf
r
2
Revised.
i Based on data not seasonally adjusted.
Advance estimate; total mfrs.
new orders for Sept. 1972 do not reflect revisions for selected components.
JSee corresponding note on p. S-7.
9 Includes data for items not shown separately.
cf Capital goods
industries series is comparable to the previous producers' capital goods and defense products
3,505
3,501
5,923
5,728
4,621
4,775
8,781 ' 8, 181
1,901
3,300
28,121
7,668
20. 453
65,503
' 3, 556
3,671
' 5, 853
6,001
' 4, 778
4,971
'8,302 ' 8, 758 28,998
' 2, 235
2,277
27,840 ' 28,682
7,616 ' 7, 765
20. 224 ' 20.917
28, 716
7,760
20. 956
(old series) categories.
©See corresponding note on p. S-7.
1fFor these industries (food and kindred products, tobacco manufactures, apparel and
other textile products, petroleum and coal products, chemicals and allied products, and
rubber and plastics products) sales are considered equal to new orders.
SUKVEY OF CUKEENT BUSINESS
November 1972
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
1972
1971
1971
Sept.
Annual
S-7
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERSJ— Continued
New orders, net (seas. adj. )t— 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
Capital goods industries 1f
Nondefense
Defense
261,204
2126,361
288,920
250,430
250,605
2242,432
267,288
2131,891
294,865
262,926
256,867
2251,841
5,577
11,003
7,789
5,387
4,726
21,007
5,658
11,039
8,304
5,318
4,788
21, 183
6,111
11,459
8,449
5,444
4,969
21,560
5,933
11,576
8,321
5,154
5,072
21,827
6,006
11,618
9,083
5,513
5,192
22, 459
5,939
11,665
8,446
5,820
5,318
22, 604
6,138
11,765
8,522
5,637
5,497
23, 538
6, 290
11,666
9,012
5,940
5,355
23,422
6,359
11,919
8,895
5,782
5,470
23, 587
6,318
6,036 '6,350
11,978 11, 805 '12,204
10, 501 8,819 ' 8, 856
5, 499 ' 6, 098 ' 6, 149
5,544 5,534 '5,666
23, 894 23, 978 '25,184
225,624
2103,275
281,861
221,414
229,173
2111,015
288,777
2 22, 238
2,441
9,103
7,471
1,632
2,457
9,694
7,859
1,835
2, 708
9,935
7,932
2,003
2,600
9,850
8, 131
1,719
2,692
10,745
8,166
2,579
2,670
9,969
8, 196
1,773
2,829
10,344
8,528
1,816
2,945
10,744
8,785
1,959
3,012
10, 569
9,036
1,533
2, 925
12, 172
9,228
2,944
2,807
10,617
9,100
1,517
73,759
70,838
2,921
72,478
69, 415
3,063
71, 617
68,715
2,902
71,903
68,908
2,995
72,136
69,085
3,051
72,478
69, 415
3,063
74,066
70,923
3,143
75,235
71, 880
3,355
75, 914
72, 433
3,481
76,396
72,837
3,559
76,071
72,476
3,595
77,619
74,028
3,591
79, 189 '79,815 81 554
75, 585 76 234 '77 901
3,604 '3,581 3/605
74,322
73,004
71,966
72,313
72,861
73,004
73,686
74, 279
75, 039
75, 506
76, 103
78, 608
79 241 '80 299
71,361
6,599
3,734
1,961
69,901
6,043
3,432
1,744
69,023
5,850
3,220
1,781
69, 311
5,948
3,316
1,783
69, 813
5, 991
3,371
1,770
69, 901
6,043
3,432
1,744
70, 490
5,983
3,407
1,731
70,915
6,073
3,493
1,715
71, 558
6,3S3
3,660
1,837
71, 983
6 350
3,606
1,874
72, 579
6,759
3,907
1,963
75, 064
7 242
4,366
1,979
75, 667 76,686 '78 506 179 3QQ
7 563 r 8 138 r g 3gl i g 294
4,706 ' 5, 146 5 295
1 931 r 2 013
2 106
10, 122
12,622
14,069
22,109
15,437
9,442
12,632
14,430
21,289
14, 322
9,705
12, 285
14, 204
20,941
13, 919
9,552
12, 430
14, 446
21,023
14, 054
9,448
12, 610
14, 557
21, 133
14, 151
9,442
12, 632
14, 430
21, 289
14,322
9,462
12, 742
13,975
22, 274
14, 417
9,591
12, 805
13, 949
22,394
14, 159
9,674
13, 051
13, 948
22, 369
14,311
9,628
13 156
13, 999
22, 611
14, 553
9,557
13258
14171
22,540
14,689
9,664
13 586
14 340
23,833
16, 086
9,843
13 749
14 284
23, 880
16, 010
2,961
3,103
2,943
3,002
3,048
3,103
3,196
3,364
3,481
3,523
3,524
3,544
1,968
38,152
9,810
24,392
2,224
38,395
9,238
23, 147
2,146
37,550
9,462
22, 808
2,204
37, 810
9,329
22,970
2,324
38,269
9,233
23,035
2,224
38,395
9,238
23, 147
2,267
39,016
9,247
23, 156
2,274
39,348
9,313
23,344
2,358
39, 203
9,440
24, 038
2,421
39, 374
9,406
24,305
2,539
39, 199
9,379
24,986
2,607
40,785
9,474
25, 742
2,519
40 751
9,567
26, 404
1,627
44, 142
26, 672
17, 470
1,810
43,483
25, 385
18, 098
1,791
42,739
25,269
17,470
1,828
42,988
25,359
17,629
1,930
43,434
25,497
17,937
1,810
43,483
25385
18,098
I 848
44,079
25 153
18926
1,844
44,102
25 167
18935
1 915 1 977 2 077
44,308 44,733 44, 853
25 291 25 502 25 842
19 017 19 231 19 Oil
2 162
46,637
26 322
20 315
2 064 2 049 T 9 Ifil i 2 239
46,779 46,929 '48,065 148,705
26 747 27 084 -97 7Q9 198 fi9Q
20 032 19 845 r9ft 97°> 12Q 176
New incorporations (50 States and Dist. Col.):
Unadjusted©
number.. 264,209
Seasonally adjusted©
do
287,547
22, 748
23,278
23,977
25,050
22, 799
25, 828
26 051
25, 529
25, 715
24, 685
24, 340
24, 743
30, 003
27, 399
26 414
26 372
28 030
26 396
28 331
26 277
26 103
26, 893
26 118
26 612
10, 326
1,464
1, 545
1,932
4,428
957
741
117
114
140
304
66
759
110
119
142
313
75
819
131
125
129
353
81
730
93
101
126
353
57
750
95
130
139
305
81
880
130
118
121
425
86
986
116
146
194
445
85
808
121
102
134
355
96
856
115
128
127
398
88
730
88
81
126
338
97
740
103
92
127
344
74
824
101
124
147
372
80
.mil. $..
do
do
_ do
do
do
do
do
do
do
Unfilled orders, end of year or month (unadjusted),
total:}:
-mil. $_.
Durable goods industries, total
do
Nondur. goods ind. with unfilled orders© do
Unfilled orders, end of year or month (seasonally
adjusted) totalj
mil. $
By industry group:
Durable goods industries, total 9 .. __ do
Primary metals
do
Blast furnaces, steel mills
do
Nonferrous metals
do
Fabricated metal products
Machinery, except electrical.. .._
Electrical machinery.
Transportation equipment
Aircraft, missiles, and parts
do
do
do___do
do
Nondur. goods ind. with unfilled orders©.. do
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 :J
Household durables
do
Capital goods industries If
do
Nondefense.
do
Defense..
...
do
6,469
12, 128
9,973
6,106
5,799
25 028
3,019 r 3 us i 3 061
10, 717 rll 762 i 11 587
9 211 ' 9 5191 g 735
1,506 ' 2 243 i i g52
'9,939
'13 936
'14 310
'24,025
'16 267
17g ^31
82 211
10, 085
14 184
14 536
'24,639 124,995
16 535
3, 574 ' 3, 613
3,661
' 2, 510
'40 671
' 9, 601
'27,517
2 604
41 745
9*764
28 098
BUSINESS INCORPORATIONS c?
INDUSTRIAL AND COMMERCIAL
FAILURES cf
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
10,748
1,392
1,687
2,035
4,650
984
thous. $._
do
do
__do _
do
do
1,887,754
298, 736
231, 533
817, 841
360, 603
179, 041
Failure annual rate (seasonally adjusted)
No. per 10,000 concerns..
243.8
730
106
103
107
352
62
1,916,929 115, 847 144, 702 128,998 111, 322 101, 619 191, 331 220, 662 148 467 190 139 127 900 204 624 253 619 113 540
356,923 24, 983 15, 912 16, 533 18 170 15 776 36 057 26 578 14 142 29 482 14 228 18 022 16 058 13 807
222, 357 20, 267 13, 288 11,601 12, 473 18 261 24, 946 26 815
8 518 16 980 10 447
7 619 22 000
9 435
712, 611 38, 580 54, 706 63, 619 44, 742 36, 515 77, 847 113, 437 60 566 32 323 48 979 112 769 114 160 50 938
444,086 20, 178 40, 771 23,026 27, 953 19 374 28 604 42 284 48 870 35 848 27 036 45 419 87 812 31 597
180,952 11, 839 20, 025 14, 219 7,984 11, 693 23, 877 11 548 16 371 75 506 27 210 20 795 13 589 7 763
241.7
40.1
38.1
41.6
37.5
35.7
40.8
41.2
36.5
38.2
34.2
38.5
40.5
39.1
317
325
326
9fi8
^Oo
ORd.
ZD4t
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS
280
227
294
183
177
163
245
604
326
345
405
151
285
243
323
209
185
167
265
619
321
354
402
133
282
234
273
228
167
156
263
639
324
361
404
132
289
240
306
233
157
161
291
641
328
366
414
125
291
246
395
242
157
161
257
655
331
371
417
128
294
245
340
246
168
165
251
664
338
371
426
138
303
251
356
255
173
165
255
671
349
369
453
130
310
248
320
255
173
166
259
664
363
365
481
130
304
243
290
235
173
166
263
665
357
362
468
138
303
253
327
264
174
168
260
666
346
352
459
122
313
261
342
272
180
170
275
666
357
345
485
123
319
270
180
166
310
665
364
342
4.QS
*yo
125
323
262
328
261
178
164
278
676
376
348
515
136
336
366
314
352
382
331
'356
387
333
355
386
332
357
387
335
357
389
335
360
391
338
363
395
340
364
395
341
365
396
343
366
398
344
369
400
348
372
403
349
372
403
QAQ
o^ty
rr *tuo
AOfi
390
410
413
413
415
416
420
423
423
428
428
432
433
433
'438
440
Parity ratio§
do
72
70
68
70
70
r
Revised.
p Preliminary. l Advance estimate; total
mfrs. unfilled orders for Sept.
2
1972 do not reflect revisions for selected components.
Based on unadjusted data.
% Revised back to 1966 to reflect benchmarking to the Annual Survey of Mfrs. for 1966-70 and
calculation of new seasonal factors; revisions back to 1966, new seas, factors, and other technical data appear in a special Census Bureau report entitled Mfrs.' Shipments, Inventories,
and Orders: 1966-72, M3-1.4, Revised (available from Publications Distribution Section,
SESA, Wash., D.C. 20233). fflSee note marked "cf" on p. S-6.
©Includes textile mill
71
72
73
72
71
72
72
7K
7*
r 7A
7K
Prices received, all farm products
1910-14= 100. _
Crops 9
do
Commercial vegetables. _
. _
do
Cotton _ _
do
Feed grains and hay
do
Food grains
do
Fruit. _ .
do
Tobacco
.
do
Livestock and products 9
_
_
do
Dairy products...
.
do
Meat animals
do
Poultry and eggs . .
do
Prices paid:
All commodities and services
do
Family living items. __
do
Production items
do
All commodities and services, interest, taxes, and
wage rates (parity index)..
1910-14=100..
9fiq
<_OO
334
341
9fi1
&\JJL
9ftfi
_<UD
178
183
187
207
qnn
ouy
9Q9
adit
715
374
357
fift7
OU<
109
J.O4
328
9QK
<_yd
91
R
-51O
187
227
091
718
I -lO
O_yl
7A1
/Ul
380
373
001
ool
RftA
OU4
376
oca
oOD
383
c-i 9
OLZ
•I Oft
loo
377
A(\A
'xU't
OKO
OOo
products, leather and products, paper and allied products, and printing and publishing industries; unfilled orders for other nondurable goods industries are zero.
9 Includes data for
items not shown separately.
^Compiled by Dun & Bradstreet, Inc. (failures data for 48 States and Dist. of Col.).
O Revisions for Jan.-Dec. 1970 will be shown later.
§ Ratio of prices received to prices paid (parity index).
SURVEY OF CUKKENT BUSINESS
S-8
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown in
the 1971 edition of BUSINESS STATISTICS
1970
1971
Annual
November 1972
1971
Slept.
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
COMMODITY PRICES—Continued
CONSUMER PRICES
(17. 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
-
Food 9
Meats, poultry, and
Dairy products
Fruits and vegetables
Housing
Shelter 9
Rent
Homeownership
Fuel and utilities 9
Fuel oil and coal
Gas and electricity
Household furnishings and
Apparel and upkeep
Transportation
Private
New cars
Used cars
Public
Health and recreation 9
Medical care . .
Personal care
Reading and recreation
fish
1967= 100. _
116.3
121.3
122.2
122.4
122.6
123.1
123.2
123.8
124.0
124.3
124.7
125.0
125.5
125.7
126.2
126.6
do
do
do
114.4
116.7
116.1
119.3
122.1
120.9
120.2
123.1
121.7
120.3
123.5
122.1
120.4
123.7
122.3
120.9
123.9
122.7
120.9
124.0
122.8
121.5
124.2
123.4
121.8.
124.5
123.6
122. 7
124.9
123.9
122.4
125.4
124.3
122.7
125.7
124.6
123.1
125. 9
125.1
123.2 '123.8
126.1 126.7
125.3 125.9
124.2
127.1
126.2
do
do
do
do
do
do
do _
113.5
114.0
113.1
111.8
112.5
121.6
123.7
117.4
117.7
117.0
116.5
116.8
128.4
130.9
118.1
118.7
118.2
116.4
117.4
129. 8
132.3
118.4
118.8
118.7
117.1
118.0
129.9
132.5
118.5
118.9
118.7
117.4
118.1
130.3
132.9
118.9
119.5
118.8
117.2
118.1
130.7
133.3
118.7
119.2
118.1
117.3
117.7
131,5
134.1
119.4
120.3
118.4
117.1
117.8
131.8
134.4
119.7
120.6
118.9
117.3
118.2
132.1
134.7
119.9
120.7
119.1
117.7
118.5
132.4
135.0
120.3
121.0
119.7
118. 4
119.2
132.7
135.3
120.7
121.2
119.5
119.2
119.4
133.1
135.7
121.2
121.7
119.3
119.6
119.4
133.5
136.2
121.4
122.0
119.4
119. 7
119.5
133.8
136.4
122.0
122.8
120.8
119.8
120.3
134. 1
136.7
122.3
123.1
121.3
120.1
120.8
134. 6
137.2
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
118.4
116.9
115.3
119.1
124.3
128.8
115.2
133.7
115.1
117.5
114.7
118.1
119.8
118.6
116.6
112.0
110.2
137.7
122.2
128.4
116.8
119.3
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
118.6
116.4
105.6
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
119.3
117.2
109.1
111.7
139.3
123.5
129.6
117.9
120.5
119.0
118.1
115.9
117.8
126.4
131.3
116.6
136.7
116.8
118.1
116.2
119.5
121.9
118.8
116.6
109.6
110.2
139.3
123.7
129. 7
117.9
120.8
120.3
118.9
116.1
124.4
126.8
131.6
116.9
137.0
117.9
118.1
118.2
119.6
121.8
118.6
116.3
110.4
107.2
139.7
123.9
130.1
117.9
121.1
120.3
120.7
116.4
120.9
127.3
132.3
117.5
137.8
118.7
118.7
119.0
119.5
120.2
119.0
116.4
112.2
105.3
143.4
124.3
130.5
118.1
121.4
122.2
126.3
116.9
123.9
127. 6
132.5
117.8
138.0
119.3
118.7
119. 4
119. 6
120.7
118.3
115.7
111.9
103.0
143.5
124.7
131.0
118.4
121.5
122.4
126.8
117.3
121.4
127.9
132.7
118.0
138.2
119.6
118.7
119.7
120.1
121.3
118.4
115.9
111.7
103.9
142.3
125.0
131.4
118.7
121.7
122.4
125.9
117.4
122.1
128.2
133.0
118.4
138.5
119.9
118.6
120.2
120.5
121.8
118.6
116.1
111.7
106.4
142.7
125.5
131.7
119.1
122.3
122.3
124.8
117.3
123.9
128.5
133.4
118.6
138.9
120.1
118.7
120.5
120.8
122.5
119.5
117.1
111.4
110.0
142.7
125.8
132.0
119.7
122.5
123.0
126.4
117.0
127.2
129. 0
134.1
119.0
139.6
120.1
117.8
120.3
121.0
122.1
119.8
117.3
111.3
112.0
143.0
126.1
132.4
120.0
122.9
124.2
129.9
116.8
128.4
129.5
134.9
119.2
140.7
120.2
117.7
120.3
121.1
121.1
120.3
117.8
111.0
112.7
143.3
126.3
132.7
120.0
123.0
124.6
130.8
116.6
128.1
129.9
135.5
119.6
141.3
120.1
117.9
120.5
121.2
120.8
120.5
118.1
110.6
112.4
143.3
126. 5
132.9
120.2
123.0
124.8
130.9
116.9
125.7
130.1
135.7
119.9
141.5
120.3
118.0
120.5
121.6
123.1
121.0
118.6
109.6
113.6
144.0
126,8
133.1
120.5
123.7
124.9
131.3
117.1
124.5
130.4
136.0
120.3
141.8
120.6
118.1
120.9
121.8
124.3
121.2
118.8
110.1
115.2
144.1
127.2
133.9
120.8
124.0
i 113. 4
i 112. 6
i 113. 8
1108.0
1109.3
1 107. 1
107.4
107.3
107. 5
106.7
105.5
107.4
105.8
104.3
106.9
106.7
106.4
106.8
110.3
109.7
110.7
112.4
111.3
113.0
114.4
110.4
117.2
115.6
110. 1
119.5
119.2
112.2
124.3
119.1
112.7
123.7
119.8
114.4
123. 7
121.0
115.8
124.6
122.7
119.7
124.8
124.5
119.4
128,1
-
do
do
do
do_ _
do_
_ _
do
do
- do
-- do __
do
do
operation.__do
do
_ _-do
do
do
do _ .
do
..do
do
_ _ - __do
do
WHOLESALE PRICESd1
(U.S. Department of Labor Indexes)
Spot market prices, basic commodities:
22 Commodities
1967=1009 Foodstuffs
do
13 Raw industrials
_ __do __
do..
110.4
113.9
114.5
114.4
114.5
115.4
116.3
117.3
117.4
117.5
118.2
118.8
119.7
119.9
120.2
120.0
By stage of processing:
Crude materials for further processing.,
Intermediate materials supplies, etc
Finished goods O
Consumerfinishedgoods __
.
Producer finished goods
do
do
do
do .
do
112.2
109.8
110.4
109.9
111.9
115.0
114.0
113.6
112.7
116.6
113.9
115.4
113.6
112.7
116.9
114.3
115.0
113.8
112.9
117.1
114.3
115.0
114.0
113.1
117.0
117.0
115.4
115.0
114.2
117.8
120.2
115.9
115.5
114.7
118.4
123.1
116.7
116.3
115.6
118.8
123.1
117.2
116.1
115.2
119.0
123.0
117.7
115.8
114.8
119.3
125.5
118.2
116.4
115.5
119.4
127.2
118.5
116.9
116.1
119.6
130.1
118.8
117.8
117.3
119.7
130.3
119.2
117.9
117.4
119.8
130.3
119.7
118.2
117.7
119.9
129.2
119.9
117.6
117.1
119.7
By durability of product:
Durable goods
_
Nondurable goods
Total manufactures
Durable manufactures __
Nondurable manufactures
do
do
do
do _
do
112. 4
108.9
110.2
112.0
108.2
117.0
111.7
113.8
117.0
110.5
118.2
111.7
114.7
118.3
111.0
118.2
111.6
114.5
118.3
110.6
118.1
111.8
114.5
118.3
110.7
118.6
113.0
115.1
118.8
111.3
119.2
114.1
115.7
119.3
112.0
120.0
115.3
116.5
120.1
112.8
120.4
115.2
116.7
120.4
112.9
120.7
115.1
116.9
120.8
112.9
121.0
116.2
117.4
121.0
113.6
121.2
117.0
117.8
121.3
114.3
121.4
118.5
118. 3
121.5
115.1
121.6
118.6
118.5
121.7
115.1
121.8
119.1
118.8
121.9
115.6
121.7
118.8
118.8
121.7
115.8
Farm prod., processed foods and feeds
do
All commodities
..
111.6
113.8
113.0
113.0
113.6
115.9
117.4
119.6
119. 1
118.3
120.0
121.3
124.0
123.8
124.5
123.3
Farm products 9 ...
_ do. __
Fruits and vegetables, fresh and dried-do
Grains
do
Live poultry
_
do. _
Livestock
do.
111.0
111.6
98.8
99.6
116.7
112.9
120.1
100.9
100.3
118.3
110.5
103.6
89.0
102.8
119.1
111.3
115.8
88.3
93.5
120.9
112.2
127.1
87.8
92.3
121.0
115.8
126.3
95.3
87.2
124.7
117.8
124.9
94.1
94.3
132.2
120.7
127.5
93.0
105.4
139.6
119.7
112.8
93. 8
107.6
136.7
119.1
117.6
96.0
94.1
133.8
122.2
120.6
97.5
96.3
139.8
124.0
121.7
94.5
102.9
146.4
128.0
129.9
96.3
118.4
152.4
128.2
138.9
99.8
106.8
148.1
128.6
138.1
109.5
112. 3
144.9
125.5
122.8
109.2
103.8
144.2
Foods and feeds, processed 9
Beverages and beverage materials.
Cereal and bakery products..
Dairy products
Fruits and vegetables, processedMeats, poultry, and fish __
do
do
do __
do
do __
do
112. 0
112.9
107.6
111.2
110.4
115.8
114.3
115.8
111.4
115.4
114.3
116.0
114.6
116.0
111.3
115.4
115.7
117.5
114.1
116.4
111.3
116.4
115.3
116.9
114.4
116.6
111.5
116.3
115.4
117.1
115.9
116.4
111. 6
117.4
115.8
120.4
117.2
116.4
112.2
117.3
116.0
125.4
118.8
116.8
112.4
117.5
116.1
130. 5
118.6
116.7
112.6
118.0
116.7
127.3
117. 7
117.2
112.8
117.5
118.3
123.6
118.6
117.2
113.3
117.4
119.0
126.8
119.6
117.8
113.3
115.3
119.5
131.4
121.5
117.9
113.6
117.7
119.6
135.8
121.0
118.9
115.3
118.6
120. 2
132.3
121.8
119.1
116.1
119.0
120. 1
131.7
121.8
118.8
116.9
120.0
121.8
130.4
do
110.0
114.0
115.0
115.0
114.9
115.3
115.9
116.5
116.8
117.3
117.6
117.9
118.1
118.5
118.7
118.8
Chemicals and allied products 9 ---Agric. chemicals and chem. prod
Chemicals, industrial
Drugs and Pharmaceuticals
Fats and oils, inedible.
Prepared paint
do
do
do
do
do
do
102.2
88.4
100.9
101.1
133.3
112.4
104.2
92.2
102.0
102.4
133.5
115.6
104.3
91.0
102.4
102.6
132.9
115.9
104.2
90.4
102.4
102.6
129.0
115.9
103.8
90.3
101.7
102.4
125.3
115.9
103.4
90.3
101.1
102.5
115.9
115.9
103.4
90.3
101.4
102.3
111.3
116.2
103.5
90.2
101.4
102.2
110.7
117.3
103.4
90.6
101.0
102.5
103.5
117.9
104.1
92.2
101.5
102.4
112.2
118.3
104.4
92.1
101.4
102.8
116.0
118.3
104.3
92.3
101.4
103.1
115.9
118.3
104.2
91.9
101.5
103.2
113.2
118.3
104.4
92.0
101.3
103.3
121.4
118.3
104.4
92.0
101.3
103.1
116.4
118.3
104.4
92.1
100.8
103.3
117.2
118.2
Fuels and related prod., and power 9
Coal...
Electric power
.
Gas fuels...
_
Petroleum products, refined
_
do
do
do
do
do
105. 9
150.0
104.8
103.3
101.1
114.2
181.8
113.6
108.0
106.8
115. 3
182.9
116.4
108.4
107.3
114.8
182.9
116.3
108.8
106.3
114.7
182.9
116.2
108.8
106.2
115.0
190.2
116.3
107.9
106.1
116.0
192.7
118.9
110.0
106.1
116.1
192.6
120.0
110. 2
105.5
116.5
192.6
120.0
110. 9
106.3
116.9
191.2
120.5
112.5
106.6
117.5
191.2
121.2
113.0
107.3
118.2
191.2
121.5
112.9
108.5
118.6
191.2
122.1
113.2
109.1
119.7
191.5
122.1
114.3
110.7
120.3
192.2
122.6
116.7
111.3
120.6
192.4
123.1
117.5
111.5
110.2 110.2 110.8 110.9 111.0 111. 1 111.2
107.4 106.9
107.5 107.4 107.5
107. 2 107.1
115.5 116.0 116.7 116. 8 116.9 117.1 117.2
93.4
92.9
93.3
93.0
92.8
92.9
92.6
comm odities. ©Goods to users inch ra~vv foods aiad fuels.
111.4
107.3
117.4
92.4
111.7
107.7
117.8
92.4
112.0
108.1
117.7
92.9
112.0
108.0
117.7
92.9
Industrial commodities
109.9 110.2 110.2 110.2
107.5
Furniture and household durables 9
do
105.3
107.2 107.6 107.5 107.6
Appliances, household
do ..
111.6
114.8 115.6 115.6 115.4
Furniture, household
do
93.4
93.8
93.8
93.8
93.6
Home electronic equipment _
do
r
9 Include 3 data for items not
Revised.
» Preliminary.
1 Computed by ]BEA.
shown separately.
cfFor actual wholesale prices c f individilal comm<)dities, se e respect ive
SURVEY OF CURRENT BUSINESS
November 1972
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
1972
1971
1971
Annual
S-9
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
COMMODITY PRICES—Continued
WHOLESALE PRICEScf—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___
Lumber
do._.
110.1
113.0
104.4
107.7
113.7
113.7
114.0
116.8
115.1
112.5
127.0
135.5
114.7
117.1
117.7
113.4
134.3
146.8
114.7
117.1
117.2
113.4
131.8
142.7
115.1
117.1
123.1
113.5
131.3
141.9
116.2
117.1
128.6
117.0
132.7
143.8
117.8
118.1
136.0
120.0
134.9
146.9
119.1
118.5
148.9
120.6
137.7
150.4
123.0
120.1
173.8
128.4
139.5
152.4
127.2
122.4
188.6
138.1
141.1
155.1
129.5
124.6
200.3
137.8
142.7
157.0
130.9
125.8
204.1
138.6
144.2
159.0
131.6
126.5
212.5
138.1
146.1
161.6
134.6
126.5
243.0
140.6
148.1
164.1
135.7
126.8
244.0
143.5
148.5
165.1
139.8
127.0
270.8
153.3
149.2
166.1
Machinery and equipment 9
Agricultural machinery and equip
Construction machinery and equip
Electrical machinery and equip
Metalworking machinery and equip
do.
do.
do.
do_
do_.
111.4
113.0
115.5
106.4
114.0
115.5
117.2
121.4
109.5
117.3
116.0
117.5
121.8
109.7
118.0
116.0
117.5
121.8
109.6
118.1
115.9
117.5
122.0
109.3
118.2
116.2
118.6
123.2
109.3
118.4
116.5
119.9
124.3
109.5
118.5
117.1
121.5
124.7
110.0
118.9
117.3
122.0
125.0
110.1
119.4
117.6
122.1
125.7
110.2
119.7
117.9
122.3
125.6
110.5
120.0
118.1
122.7
125.9
110.6
120.2
118.3
122.7
125.9
110.7
120.5
118.3
122.8
126.1
110.6
120.8
118.3
122.6
126.1
110.6
121.0
118.4
122.6
126.1
110.5
121.2
Metals and metal products 9
Heating equipment
Iron and steel
Nonferrous metals
do_
do.
do_
do_
116.7
110.6
115.1
125.0
119.0
115.5
121.8
116.0
121.1
116.7
125.6
116.5
121.0
116.3
125.5
116.3
120.9
116.5
125.3
116.0
120.8
116.3
125.3
114.9
121.4
115.9
126.8
114.4
122.6
116.2
128.2
115.0
123.4
117.0
128.3
117.2
123.5
117.9
128.3
117.6
123.6
118.1
128.3
117.8
123.6
118.6
128.1
117.6
123.5
119.0
128.3
116.8
123.7
119.2
128.6
116.8
124.0
119.2
128.8
117.4
124.1
119.2
128.9
117.3
125.9
125.8
126.2
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
122.4
124.2
124.1
124.0
124.2
124.3
124.6
126.7
126.9
109.8
112.2
100.0
108.2
111.0
108.6
109.0
114.2
120.6
106.8
110.1
114.1
109.2
109.2
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
114.9
122.6
112.1
110.6
114.7
109.5
110.8
114.9
122.9
114.1
110.7
114.7
109.4
110.8
114.8
123.4
113.4
110.8
114.9
109.5
110.3
116.1
123.8
112.8
111.6
115.3
109.2
108,4
116.2
124.5
115.3
112.3
115.7
108 9
108.4
117.2
125.1
114.9
112.8
115.9
108.7
108.4
117.2
125.1
113.4
113.2
115.9
108.8
108.4
117.4
125.3
113.9
113.5
116.2
108.9
108.7
117.5
126.0
115.7
113.7
116.7
109.2
109.5
117.5
126.1
116.1
114.1
116.7
109.5
109.7
117.5
126.3
115.2
114.3
116.7
109.5
109.7
118.4
127.2
115.2
114.7
116.8
109.5
109.7
Textile products and apparel 9
Apparel
Cotton products
Manmade fiber textile products
Silk yarns
Wool products
107.2
111.0
105.6
102.1
114.3
99.4
108.6
112.9
110.6
100.8
93.5
109.7
113.8
112.2
103.1
(l)
92.5
109.6
113.8
112.2
102.5
(l)
92.4
109.8
113.8
112.5
103.2
0)
92.3
110,6
113.8
113.6
104.3
C1)
91.5
111.3
113.8
116.7
105.4
C1)
92.0
112.0
114.0
118.0
105.9
(l)
92.2
112.1
114.1
119.6
106.1
0)
92.0
112.6
114.2
120.5
107.2
(0
93.0
113.3
114.3
121.5
108.0
(l)
98.3
113.6
114.4
122.6
108.6
0)
99.2
114.0
115.1
123.0
108.9
0)
100.0
114.1
115.1
122.8
108.7
0)
101.1
114.3
115.3
123.6
108.6
C1)
102.5
114.8
115.6
124.0
108.6
0)
106.6
104.5
108.5
109.9
109.4
114.0
110.3
114.7
112.8
112.6
116.7
109.6
113.8
113.0
112.6
116.8
110.7
115.2
113.0
112.6
116.8
110.8
115.3
113.1
112.8
116.8
112.9
117.5
113.2
113.1
116.7
113.4
117.9
113.7
113.5
117.4
113.6
118.0
114.0
114.0
117.4
113.6
118.0
114.2
114.5
117.4
113.7
118.0
114.1
114.0
117.4
113.8
118.1
114.1
114.1
117.5
114.2
118.5
114. 2
114.4
117.5
114.1
118.4
114.9
114.5
117.5
114.2
118.5
115.1
114.5
117.5
114.2
118.5
115.2
114.8
117.5
112.9
116.9
115.0
114.9
117.5
$0.878
.824
.818
$0.874
.817
$0.873
.816
$0.867
.812
0.860
.812
$0.852
.806
$0.851
.805
$0.842
.860
$0.835
.797
.796
$0.832
.792
.790
' 9, 627 '10,481
10,982 '10,944
do..
do_.
do_.
do_.
do..
do_.
Transportation equipment 9.. -Dec. 1968=100.
Motor vehicles and equip
....1967=100.
Mlscellaneous products 9do—
Toys, sporting goods, etc
do—
Tobacco products
_._•
do...
C1)
PURCHASING POWER OP THE DOLLAR
As measured byWholesale prices
Consumer prices
.._1967=$1.00_
do._-
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE 1
New construction (unadjusted), total. 1
Private, total 9
Residential (including farm)
New housing units
_.
mil. $__
94,030
109,399
10,190
10, 235
10,010
9,175
'8,417
-do
_.do
do
65, 932
31, 864
24, 272
79, 535
43,062
34, 860
7,434
4,175
3,438
7,447
4,147
3,413
7,357
4,066
3,344
7,043
3,890
3,214
r 6, 353 ' 6, 108 ' 6, 737 ' 7 335' 7, 852
3,542 ' 3, 381
3,752 ' 4, 194 ' 4, 519
2,963
2, 848
3,131
3,390
3,608
21,417
6,538
9,754
22, 479
5,423
11, 619
2,011
2,034
2,012
1,913
460
430
1,748
1,087
1,093
1,098
1,023
362
956
Nonresidential buildings, except farm and public utilities, total 9
mil. $..
Industrial
do
Commercial
-do
Public utilities:
Telephone and telegraph.
do
421
433
'8,184
' 1,679
328
934
' 8, 920
' 1, 840
'365
1,005
1,928
2,041
1,066
1,155
382
393
T
11, 436
11, 307
8 243 r g 311 r g 565
4 831 r 4 971 r 5 049
3 904 ' 4 059 r 4 132
8 634
5 044
4 17Q
2,075
2,207
2,017
398
416
1,132
1,161
' 2, 144
r 415
r 1 203
2,968
3, 005
252
250
260
270
194
219
268
245
282
299
266
296
do .. 28, 098
29, 864
2,756
2,788
2,653
2,132
2,064
2,076
' 2, 183
2,292
2,629
2 739
r 2 633
r 2 871
Buildings (excluding military) 9 _
Housing and redevelopment _
Industrial
do
do
do
10, 657
1,107
11,397
1,136
1,000
1,056
118
52
908
93
45
888
89
44
908
66
39
'856
64
46
871
61
48
941
67
48
955
73
46
'921
1 031
572
973
83
48
Military facilities
..
Highways and streets
do
do
718
894
76
88
83
660
75
585
66
552
83
633
72
798
83
980
95
1 015
99
Public total 9
_
New construction (seasonally adjusted at annual
rates) total 1
bil. $
Private, total 9
-~
do
Residential (including farm)
do
Nonresidential buildings, except farm and public utilities, total 9
bil. $._
Industrial
do
Commercial
do
Public utilities:
Telephone and telegraph
do
499
9,981
10, 658
94
51
94
33
37
g4
84
1,095
1,073
86
936
110.7
114 0
114 6
115 6
120.8
rl21 8
r 122 9
r 120 4
r 122 1
121 1
81.6
82.4
84.2
85.2
88.6
'90.9
'92.5
r 91 4
r 92 2
92 5
r 91 9
45.6
46.4
47.1
47.9
49.6
51 9
53 1
r 52 7
r 52 3
52 9
53 5
21.9
22.2
22.9
23.0
24 0
4 8
13 2
23 8
4 6
13 4
24 6
4 7
14 1
24 3
4 9
13 5
23 2
46
13 0
24 0
11.8
23.5
47
13 2
r 24 2
11.7
23.9
49
13 3
4.6
5.0
4.9
4.9
12.3
12.4
r
T
1 018
1 105
120 2
r 19^ 1
199 Q
r 94 o
94 7
' f 54 3
55 1
T d.
8
f ID A
2.9
2.7
3.0
30
3.2
3.2
3.2
29
34
33
31
31.6
30.5
30.3
32.2
30.9
30.4
28 9
29 8
28 6
28 3
r 29 1
12.1
12.4
Buildings (excluding military) 9
do
11.3
1.2
1.0
1.3
Housing and redevelopment
-do
.6
.6
.7
Industrial
do
.8
.9
1.0
Military facilities
do
11.2
10.3
Highways and streets
do
10.8
r
Revised.
*> Preliminary.
» Series discontinued.
cfSee corresponding note on p. S-8.
9 Includes data for items not shown separately.
HData have been revised to reflect the incorporation of new basic data, the change in estimating procedures, the modification of the type of construction classifications for private nonresidential buildings, the inclusion of farm housing in new private housing units, and the
12.2
12.4
11.7
10.8
10.1
10 6
10 4
10 8
13
11 3
10
10
11.2
10
10.2
12
10.3
10
11.2
10
10.9
1i
10.0
487-759 O - S2
_.do
2 673
78
31
29.1
Public, total 9
403
1 271
1.2
.5
9
10.4
1.2
.5
.8
.6
6
6
g
5
g
5
9
4
5
T
4. ^
iq 7
34
28 2
4
5
14
g
g
9.5
9.9
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, "U.S.Government Printing Office (Washington, D.C. 20402).
SURVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
1971
Annual
November 1972
1971
Sept.
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
8 197
Oct.
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION CONTRACTS
Construction contracts in 50 States (F. W. Dodge
Division, McGraw-Hill):
Valuation, total
_
mil. $_.
Index (mo. data seas, adj.)
68, 160
6,568
6,405
6,286
6,234
5,607
7,284
8,100
9, 098
8,478
8,067
8 875
154
137
155
160
165
155
159
167
165
154
155
180
187
1, 993
4, 646
1,837
4,731
1,012
1,087
244
2,137
4,097
1 634
3 973
1,686
5,598
1 741
6 359
2 574
6 524
2 517
5 960
2 528
5 538
2 466
6409
2 017
6 181
24,394
24, 675
18,992
25,846 ' 2, 225
37, 119 ' 3, 097
19, 925 ' 1, 317
2,065
3,171
1,332
2,128
3,001
1,275
1,959
2,997
1,331
1,728
2,667
1,840
1,799
2,664
1,144
2, 187
3,617
1,480
2,182 2,908
2,447
2,461
3,971 4,428 4,375
3,864
1 947 1 762 1 655 1,741
2 458
4 671
1 746
2 378
4 135
1 684
66,937
65, 578
4,749
6,024
9,919
8,006
4,456
6,500
7,133
4,234
4,799
5,000
3, 894
5,315
4,470
thous. . 1, 469. 0
1, 034. 4
do
1,433.6
do
812.9
do..
2, 084. 5
1.518.5
2, 052. 2
1, 151. 0
175.6
125.2
173.8
102.1
181.7
132.5
179.7
102.9
176.4
128.9
173.7
92.9
155.3
118.1
152.1
80.4
150.9
112.2
149.1
76.2
153.6
117.2
152.2
76.3
205.8
152.4
203.9
111.4
213.2
155.6
211.6
119.8
227.9
162.7
225.8
135.2
226.2
160.4
223.1
131.9
207.5
147.7
206.5
119.1
r
230 9
r
166 6
r
228 6
r
2,029
1,172
2,038
1,155
2,228
1, 242
2,457
1,347
2 487
1*415
2,682
1,325
2, 369
1,302
2,109
1,167
2,350
1,344
2,218
2 330
1 296 1,289
'2,027 '2,092 ' 2, 191
952
966
908
2,204
1,098
2,056
959
2,007
954
1,991
1,955
2,121
989
2,108
1,013
33.3
39.7
48.8
53.4
51.5
54.7
48.2
U44
mil. $
do
21,977
41,735
22, 626
47, 879
do
do
do
do —
1967=100..
Public ownership
Private ownership
By type of building:
Nonresidential __
Residential .
Non-building construction
New construction planning
(Engineering News-Record) O
80,590 ' 6, 639
U23
T
r
263
6,489
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total (private and public)
Inside SMSA's
Privately owned
One-family structures ^
Seasonally adjusted at annual rates:
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
Seasonally adjusted at annual rates
do__
do
1,352
647
1,907
401.2
496.6
54.0
903
1,987
900
545
50.8
39.9
520
513
34.4
509
554
552
595
923
963
634
572
604
572
' 201 8
' 140 6
'200 4
!31 3 ' 119. 5
213 4
153 0
211 7
115.0
T 2 484 ' 2 366 2 410
r i 410 r i 371
1 288
' 2, 237 ' 2, 265
'975
1,031
51.7
48.8
139
532
2,218
1,071
502
CONSTRUCTION COST INDEXES
Dept of Commerce composite
1967=100
122
131
134
134
134
135
135
136
136
137
137
137
138
138
American Appraisal Co., The:
Average 30 cities
Atlanta
New York
San Francisco
St. Louis
1913=100
do
do
do
do
1,132
1, 254
1,202
1,088
1,116
,411
,359
,174
,219
258
1,297
1,440
1,415
1,193
1,252
1,296
1,439
1,415
1,189
1,252
1,295
1,439
1,415
1,187
1,252
1,316
1,482
1,417
1,190
1,259
1,325
1,536
1,419
1,195
1,260
1,336
1,540
1,425
1,266
1,264
1,341
1,640
1,435
1,266
1,264
1,348
1,545
1,436
1,267
1,265
1,359
1,545
1,436
1,267
1,284
,367
,545
,436
,267
,284
1,375
1,577
1,436
1,306
1,285
1,379
1,577
1,440
1,315
1,285
199 A
135 0
133 9
132.8
-I oo c
123. 1
137 5
138.5
138 1
137.5
138.5
138.1
137.5
138.5
138 1
137.5
141.8
140 6
141. 4
124.4
128.9
140.5
146.7
147.4
153.2
147.2
153.5
147.4
153.6
147. 9
154.6
149.0
155.6
131 7
135 5
Associated General Contractors of America, Inc.,
The (building only) d*
1967=100..
Boeckh indexes:
Average, 20 cities:
Apartments, hotels, office buildings
1967=100. .
Commercial and factory buildings..
_do
Residences
do
Engineering News-Record:
Building
1967=100-.
Construction
._
do
126
Federal Highway Adm.—Highway construction:
Composite (avg. for year or qtr.)
1967=100.__
144.6
144.2
145.0
143.5
143 1
143.3
150.5
156.6
151.2
157.2
152.7
158.5
152. 1
157.6
153.7
154.6
155.3
162.9
157.5
163.7
22 158. 3
165. 6
133. 7
135.5
133.5
147.5
146.9
148.6
146.6
146.1
147.3
CONSTRUCTION MATERIALS
Output index:
Composite, unadjusted 9
Seasonally adjusted
.1947-49=100..
do —
Iron and steel products, unadjusted
Lumber and wood products unadj
Portland cement , unadjusted
' 164. 3
163. 3 ' 159. 5
' 175. 7 'r 179. 8 ' 178. 1 ' 17Q
g r 1S°i 0
175. 4 r 1 f»Q 9 r
166. 4
162.3
194.3
do
do
do
157.5
-ice 9
167.6
189 0
197.1
203 4
186.4
1 cq o
203.7
188 1
204.2
190 5
191.2
201.1
269.6
164.8
181.9
253. 2
r
163 8
182.7
209.0
144 8
190.4
255.3
187.6
255.7
145 5
130 7
180.5
215.1
190 4
141 0 r 134 4 ' 146. 1 ' 180 4 '173 8
187.2 209.0 192.7 ' 206. 1
177.6
177.6
156.8
134.0 138.2 192.8 205.1 252.6
QfiQ 0
T 9Q Q
r 27 5
r 22 5
r 32 4
343
351
REAL ESTATE K
Mortgage applications for new home construction:
FHA net applications
thous. units..
Seasonally adjusted annual rates.
...do
Requests for VA appraisals
...do
Seasonallv adjusted annual rates
do
Home mortgages insured or guaranteed byVet. Adm.: Face amount§
do
Federal Home Loan Banks, outstanding advances
to member institutions, end of period
mil. $—
New mortgage loans of all savings and loan asspciations estimated total
mil $
By purpose of loan:
Home construction*
do
Home purchase
do
All other purposes
—do
...mil. $..
27 9
20 6
20 9
20 4
17.2
19 5
14 0
16.4
207
15.7
228
15.4
232
16.8
224
20.0
207
21.7
248
18.5
197
20.5
219
17.3
203
19.2
199
15.8
193
15.7
191
8 113 73 10,374.54 862. 75
3,442.90 6,065.83 696. 10
821. 04
520.25
869. 50
789. 56
859. 77
719. 71
935. 45
639. 38
813. 63
616. 73
798. 12
717. 71
653.69
516. 86
627.34
609. 78
643.05
854.60
635. 16
672. S6
750. 10
771. 98
585. 28
758.57
737. 74
6 295
6,736
143.7
r
217.9
291
450
333
326
260
221
217
217
223
206
163
10, 615
7 Q°.fi
7 637
7 640
7 709
7 936
7 238
6 515
5 992
5 913
5,853
6,075
6,138
21, 387
39,485
3,672
3,405
3,298
3,592
2,632
2,849
3,910
3,819
4,603
5,449
4,572 '5,379 * 4, 675
712
1,861
1,337
707
1,819
1,293
836
2,276
1,491
872
2,920
1,657
743
'803
2,515 ' 3, 087
1,314 ' 1, 489
10, 117
12,778
12,506
4,150
10, 239
6,998
609
1,717
1,079
589
1,661
1,048
573
1,590
1,429
481
1,253
898
10, 068
9,527
10, 141
10,602
10,831
9,792
11, 952
177 70
162 57
156 50
183 70
175 40
168 80
211 04
6,835
18,810
13,840
628
1,951
1,093
116 698
9 94K R4.
l
2
' Revised.
* Preliminary.
Computed from cumulative valuation total.
Index
as of Nov. 1, 1972: Building, 160.0; construction, 167.9. QData for Sept. 1971, and Mar.,
June, and Aug. 1972 are for 5 weeks; other months, 4 weeks.
9 Includes data for items
26 7
18.1
231
315. 0
101 070
Fire losses (on bldgs., contents, etc.)
23 3
21.7
253
r
518
1,400
931
737
2,584
1,354
not shown separately.
§Data include guaranteed direct loans sold.
cfNew base; comparable data for earlier periods will be shown later.
^Home mortgage rates (conventional
1st mortgages) are under money and interest rates on p. S-17.
SURVEY OF CURRENT BUSINESS
November 1972
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
In the 1971 edition of BUSINESS STATISTICS
1970
1971
1971
Annual
S-ll
Sept.
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
DOMESTIC TRADE
ADVERTISING
McCann-Erickson national
seasonally adjusted:!
Combined indexf Television (network)
Spot TV
Magazines
Newspapers
advertising
index,
1957-59=100__
do
do
do
do
199
249
318
165
127
199
233
302
175
141
202
226
335
175
140
205
239
295
175
157
201
248
296
173
138
201
246
290
174
140
209
235
319
185
153
207
258
292
184
140
205
244
327
178
134
215
257
335
181
149
216
253
349
187
147
214
247
338
187
148
Magazine advertising (general and natl. farm magazines):
Cost, total
mil. $_
Apparel and accessories
do
Automotive, incl. accessories
_do
Building materials
__
do
Drugs and toiletries..
do
Foods, soft drinks, confectionery
do...
1, 185. 7
50.9
95.3
20.8
156.6
99.4
1, 251. 4
47.0
111.3
19.2
158. 6
108.1
109.9
6.8
7.7
2.1
13.9
8.5
132.5
4.7
15.9
2.2
15.5
12.0
132.3
4.8
9.9
2.1
13.8
13.1
100.7
3.4
4.4
.7
12.6
10.1
72.4
1.6
5.7
1.1
9.1
5.1
94.0
3.0
9.1
1.1
13.3
9.8
107.4
4.3
11.3
2.5
12.2
10.4
121.0
6.0
11.6
3.3
13.4
10.4
128.9
3.8
14.4
3.5
14.4
9.8
109.0
1.7
12.2
2.2
13.3
10.6
83.8
1.2
8.4
1.3
10.5
8.7
78.1
3.7
5.0
.9
11.2
6.3
117.0
6.4
8.4
2.2
12.1
8.9
Beer, wine, liquors. _
do
Household equip., supplies, furnishings. _do_._
Industrial materials
do...
Soaps, cleansers, etc
-.do...
Smoking materials
— do
Another
do__.
98.0
71.1
43.8
16.4
64.7
468.9
88.2
64.0
33.1
17.8
118.2
486.0
6.4
5.7
3.2
1.7
9.5
44.3
9.4
8.0
3.1
1.4
10.1
50.1
12.2
7.3
3.5
1.7
9.4
54.6
13.4
5.1
2.0
1.1
9.6
38.4
2.9
2.3
2.1
1.1
8.2
33.2
4.2
3.9
1.9
2.2
8.8
36.8
5.6
5.9
2.6
1.7
8.5
42.3
7.4
8.5
2 4
2.3
8.7
46.9
8.3
9.8
3.8
1.7
8.8
50.7
8.5
6.2
2.4
1.7
9.6
40.5
6.4
4.6
1.6
1.6
9.8
29.8
4.7
3.4
2.3
1.4
8.6
30.5
6.7
7.6
3.3
1.8
11.3
48.1
Newspaper advertising expenditures (64 cities) : ©
Total*.
mil. $.- 3, 119. 5
92.8
Automotive.
do
724.3
Classified
,
do
117.0
Financial
do
426.5
General
do
1,759.0
Retail
do
3, 289. 9
101.9
764.3
106.6
461.8
1, 855. 3
i 275. 6
9.8
64.8
9.0
38.8
153.3
1321.4 i 319. 8 i 293. 2
8.5
8.0
4.8
73.1
63.9
54.3
10.3
9.4
9.6
49.1
48.2
35.0
180.5
189.5
190.3
279.4
6.8
71.1
13.5
39.9
148.1
273.7
8.6
69.5
8.6
40.0
146.9
313.7
10.8
76.1
10.9
44.8
171.1
332.6
9.2
83.7
12.2
50.7
176.8
324.6
10.4
81.4
9,. 9
48.2
174.7
310.3
8.3
79.3
11.5
43.6
167.6
280.4
7.6
82.6
10.2
30.4
149.7
273.4
7.4
76.7
6.3
30.0
153.0
267,357
122,420
144,937
23,418
10,855
12,563
22, 787
10, 696
12, 091
23,356
10,666
12,690
23, 654
10, 478
13, 176
21,756
9,725
12,031
22,012
9,951
12,061
24,938
11,567
13,371
23,044
10,977
12,067
25,290
11,898
13,392
25,389
12,127
13,262
23,491 ' 26,654
11,085 ' 12,552
12, 406 ' 14,102
25, 421
12, 054
13, 367
26, 622
15, 318
11, 304
28, 828
16, 987
11, 841
27,707
16,616
11,091
28, 200
16, 754
11, 448
28,493
16,759
11,733
28, 828
16, 987
11, 841
29,064
17,041
12,023
29,079
17,171
11,908
29,289
17, 412
11,877
29,608
17,740
11,868
29, 669
17, 855
11,814
29,648
18,003
11,646
29,901 ' 29,868
18,332 18,098
11,569 ' 11,769
30, 397
18, 281
12, 116
375,527
114, 288
64,966
59,388
5,578
408, 850
131, 814
78, 916
72, 538
6,378
34,102
11,418
6,758
6,237
521
35, 659
12,089
7,329
6,781
548
36,018
11,796
7,100
6,516
584
42,572
11, 931
6,149
5,570
579
30,604
9,661
5,756
5,317
439
30,987
10,181
6, 192
5,760
432
36,220 »-35,389 '38,164 '38,730
12, 258 '12,095 '13,296 '13,735
7,372
8,162
8,372
7,582
7,539
7,716
6,782
7,020
623
656
590
562
Furniture and appliance group 9
—do
Furniture, homefurnishings stores
do
Household appliance, TV, radio
do
17, 778
10,483
6,073
18, 560
11, 004
6,221
1,524
898
507
1,610
976
519
1,677
1,009
546
2,173
1,159
811
1,560
905
540
1,550
919
505
Lumber, building, hardware group 1 do
Lumber, bldg. materials dealers d — .do
Hardware stores
do
Nondurable goods stores 9 _
do
Apparel group
do _
Men's and boys' wear stores
do
Women's apparel, accessory stores do
Shoe stores.
__do
15, 346
11, 995
3,351
17, 378
13, 733
3,645
277, 036
20, 804
4,727
8,193
3,532
1,610
1,304
306
22,684
1,674
354
663
315
1,628
1,302
326
23, 570
1,741
379
701
292
1,568
1,244
324
24,222
1,897
439
752
303
1,540
1,127
413
30, 641
3,001
750
1,183
403
1,223
984
239
20,943
1,437
353
547
235
1,240
998
242
20,806
1,309
302
521
210
1,099
2,530
7,185
6,673
2,493
1,565
2,688
8,300
7,707
2,528
1,105
2,454
7,101
6,620
2,388
1,101
2,402
7,105
6,619
2,264
1,157
2,693
7,870
7,334
2,488
r
1, 141
'2,699
' 7, 588
' 7, 069
' 2, 457
5,673
5,496
--
WHOLESALE TRADE
Merchant wholesalers sales (unadj.), totaL.mil. $_. 246,643
111, 778
Durable goods establishments
do
Nondurable goods establishments..
do_ _ 134, 865
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total
mil. $__
Durable goods establishments.
_ _ . _do
Nondurable goods establishments
do.__
RETAIL TRADE t
All retail stores:!
Estimated sale* (unadj ) total f
Durable goods stores 9 _ _
Automotive group
Passenger car, other auto, dealers
Tire, battery, accessory dealers
mil. $
do
do
do
do
261, 239
19, 810
4,630
7,582
3,501
1,673
1,021
516
1,595
969
508
1,689
1,034
530
1,770
1,101
544
1,544
1,841
1,731
1,466
1,356
1,460
1,226
1,176
375
381
318
290
23,962 '23,294 '24,868 '24,995
1, 734 ' 1, 665 ' 1, 769 ' 1, 739
419
432
365
390
'653
'683
'626
665
304
298
317
294
36,961
12,624
7,486
6,869
617
'37, 994 ' 37,453 2 38,662
' 12,785 ' 12,482 2 13,497
'7,406 ' 7, 201 2 8, 077
' 6. 770
6,612
'636
589
1,749 '1,817
1,001 ' 1, 070
608
'607
1,837 ' 1, 952
1,876
1,465 ' 1,590
1,541
362
372
335
24,337 ' 25,209 ' 24,971
1,580 ' 1, 759 ' 1, 867
'389
371
403
'667
605
707
'317
267
375
13,352
29,689
86, 114
79, 756
27, 994
13, 736
31, 131
89, 239
82, 793 •
29, 163
1,087
2,650
7,350
6,818
2,475
1,115
2,722
7,566
7,022
2,509
61, 320
68, 134
5,620
5,862
6,824
9,904
4,426
4,512
55,812
37, 295
3,853
6,959
7,980
62, 242
42, 027
4,301
6,972
8,773
5,082
3,444
359
537
708
35,219
11,833
7,365
6,809
556
5,291
3,568
404
552
738
11, 695
7,109
6,564
545
6,245
4,195
575
621
758
35,574
11,885
7,248
6,690
558
9,361
6,518
548
1,133
1,073
34, 896
11, 834
6,639
6,162
477
4,004
2,680
269
419
669
34,886
11,475
6,578
6,028
550
4,064
2,646
327
464
652
35,345
11,457
6,689
6,121
568
1,497
903
477
1,583
964
510
1,575
946
520
1,651
954
558
1,741
1,020
607
1,728
1,027
573
1,780
1,058
568
1,743
1,044
583
1, 748;
1,016
576
1,735
1,051
527
1,781 ' 1, 797
1,026 ' 1, 040
"607
'613
1,488
1,179
309
1,515
1,193
322
1,575
1,255
320
*• Revised.
* Data for Sept.-Dec. 1970 are as follows (mil. $): 256.2, 279.5, 309.5, 264.4;
7.0,9.0,7.1,5.6;
58.6,60.1,58.0,46.1; 8.9,10.2,7.8,8.8; 37.9,42.6,48.5,30.6; 143.9,157.6,188.1,173.2.
2
1,548
1,249
299
1,685
1,359
326
1,576
1,249
327
1,622
1,270
352
1,562
1,246
316
1,592:
1, 250
342
1,605
1,263
342
1,679
1,338
341
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 houses (dept. store mdse).do
Variety stores
do.--.
Liquor stores
_
do
Estimated sales (seas, adj.), total J
do
Durable goods stores 9
do
Automotive group
do
Passenger car, other auto, dealers
do
Tire, battery, accessory dealers. ... do
Furniture and appliance group 9
Furniture, homefurnishings stores,
Household appliance, TV, radio
do
do __
do
Lumber, building, hardware group. _ do
Lumber, bldg. materials dealerscf
do
Hardware stores
do
34, 964
Advance estimate. ©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 expenditures in 64 cities instead of linage in 52 cities as formerly published.
JRevised to reflect new sample design, improved techniques, and new information
from the 1967 Census of Business; revisions for periods prior to Oct. 1970 appear on p. 55 ff.
5,151
5,037
3,367
3,348
419
352
600
580
743
709
36, 450 '36,296
12,087 '11,976
7,067
7,073
6,490
6,464
577
609
' 1, 760
1,016
S599
2
1, 782
2
25,165
2
1, 861
' 1, 197
' 2, 894
' 7, 937
'7,389
' 2, 608
' 1, 195
'3,022
' 8, 173
'7,592
'2,645
1, 163
3,063
8,092
7,492
2,752
' 1, 222
' 3, 127
' 8, 100
' 7, 494
' 2, 758
' 1, 195 2 1, 192
' 2, 891 22 2, 875
'r 8, 241 2 7, 828
7, 253
7, 656
' 2, 607 2 2, 643
6,002
5,977
5,660
' 6, 224
'6,143
2
6, 511
' 5, 624
'3,818
388
613
741
37,683
12,598
7, 5.12
6,909
603
2
2
5, 942
3, 991
5,501
5,493
3,688
3,739
388
344
620
616
751
774
T
Qft
COO
37, 141
12, 280: '12,253
7, 302
7,266
6, 719
6,704
583
562
5,208
3,486
336
584
803
37,342
12,468
7,399
6,821
578
' 5, 735
' 3, 787
'444
'638
'760
' 37,969
' 12,842
' 7, 723
' 7, 104
'619
38,750
13,095
1,750
1,028
584
' 1, 714 1,739
'1,362
1,406
352
333
of the Dec. 1971 SURVEY (complete details appear in the Census Bureau Monthly Retail
Trade Report, Aug. 1971 issue). 9 Includes data for items not shown separately.
t Formerly Marketing/Communications advertising index. Series revised in June 1971;
comparable 1970 monthly data are in the SURVEY for that month (no comparable earlier data
are available).
cf Comprises lumber yards, building materials dealers,
and paint, plumbing, and electrical
c
stores.
§ Except department stores mail order.
Corrected.
SURVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
November 1972
1971
1971
Annual
Sept.
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
24,861
f 1, 846
24, 569
' 1, 788
'706
'683
July
Aug.
Sept.
Oct.
DOMESTIC TRADE—Continued
RETAIL TRADEf— 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 do
Shoe stores _ __
do
Drug and proprietary stores
Eating and drinking places
Food group
Grocery stores
Gasoline service stations __
- -
23,386
1,683
385
666
284
do
do
do
do
do
General merchandise group with nonstores 9
mil. $
General merchandise group without nonstores 9 §
mil $
Department stores
do
Mail order houses (dept. store mdse.)do
Variety stores
do
Liquor stores
- do
Estimated inventories, end of year or month: t
Book value (unadjusted), total £
. mil. $__
Durable goods stores 9
- do
Automotive group
do
Furniture and appliance group
__do
Lumber building, hardware group _ _ do
23,269
1,700
384
665
291
23 689
1 775
23, 562
1,773
23, 411
1,732
23, 888
1,741
397
699
304
388
715
295
390
677
286
1.141
2 677
7,474
6,944
2,521
1,165
2,746
7,523
6,994
2, 523
1,137
2,745
7,387
6,860
2,506
1, 155
2,714
7,665
7,133
2,493
409
673
287
24, 363 '24,320
1,767 ' 1, 834
417
671
290
445
'673
310
1,133
2,632
7,391
6,851
2,494
5,872
5,817
5,954
5,756
5,874
5,965
6,088
6,025
5,315
3,618
5,247
3,554
5,387
3, 641
5,261
3,607
5,376
3,578
5,486
3,650
5,546
3,664
5,533
3, 643
370
571
754
382
568
748
395
577
742
345
572
728
396
599
727
399
617
753
317
1,205 r 1, 208
' 2, 763 r 2, 785
7,795 ' 7, 985
r
7, 265 '7,449
'2,489 ' 2, 534
1,138
2,573
7,516
6,993
2,523
1,178
2,814
7,720
7,190
2,534
438
406
632
800
396
671
769
429
294
24,874 r 25 127 ' 25 085125 655
1,801 T i 813
1 856
433
435
'438
695
'699
700
299
'300
330
' 1, 218
'2 801
' 7, 832
' 7, 279
' 2, 500
1,204
2,818
7,956
7,374
2,577
'
'
'
'
'
6,246
6 143
6,267
'6 288
5,731
3,838
5 632
3 792
5,801 ' 5 772 5 854
3,899 '3 845 3 990
422
'439
424
643
'654
637
785
'775
759
423
649
766
393
638
776
1 246
2 797
8, 039
7 457
2, 622
1 216
2 780
7,994
7 419
2 612
6 326
8,850
3 384
2,671
50, 889
23, 152
11 384
3,557
3,219
51,514
22,916
11, 226
3,566
3,116
52,870
23, 130
11, 254
3,626
3,189
53,720
23,387
11, 278
3,710
3,206
50,889
23, 152
11, 384
3,557
3,219
50,705
23, 440
11, 528
3,498
3,314
51,724
23, 898
11, 827
3,565
3,414
53,324
24, 572
12, 214
3,652
3,509
54,037
24, 929
12,343
3,732
3,574
54,299
25, 087
12, 416
3,735
3,612
53697
24, 701
12, 084
3,692
3,568
52,794
23, 592
11, 083
3,691
3,543
51, 693
21, 749
9 169
3 672
3,536
53 187
22, 451
9 845
3 750
3,561
25, 638
4,209
5,078
27 737
4,397
5,507
28, 598
4,765
5,280
29, 740
4,899
5,452
30,333
5,005
5,630
27, 737
4,397
5,507
27, 265
4,244
5,350
27, 826
4,416
5,357
28, 752
4,608
5,486
29, 108
4,674
5,510
29, 212
4,596
5,557
28 996
4,509
5,538
29, 202
4,598
5,563
29 944
4,834
5,631
30 736
5 044
5 645
9,905
5,976
11, 062
6,613
11,973
7,177
12,627
7,632
12, 835
7,821
ll, 062
6,613
10, 905
6,548
11, 281
6,704
11 888
7,132
12, 065
7,232
12, 158
7,344
12, 106
7,273
12, 153
7,203
12, 541
7,469
12 981
7,763
Book value (seas, adj.), total J
__do
Durable goods stores 9
do
Automotive group
do _
Furniture and appliance group __ _ do_
Lumber, building, hardware group—do
46, 626
20 345
9,133
3,432
2,748
52, 261
23 808
11* 772
3,604
3,312
52,104
24, 143
12, 399
3,559
3,157
52083
24, 034
12 219
3,541
3,238
51,916
23, 872
11, 972
3,554
3,255
52,261 52,458
23, 808 23, 790
H, 772 11, 609
3,625
3,604
3,312
3,378
52,484
23, 679
11, 494
3,645
3,428
52,639
23, 674
11 436
3,670
3,433
52,814
23, 740
11, 387
3,684
3,467
53402
23 915
11, 412
3,709
3,507
53 293 52,940
23 *665 23, 194
ll' 086 10, 596
3,725
3*703
3,529
3 508
53 107
23* 037
10 407
3 690
3 579
53 661
23 608
10 937
3 743
3 612
Nondurable goods stores 9
do
Apparel group .
_
do
Food group
do
General merchandise group with nonstores
mil. $
Department stores.
do_
26 281
4,384
5 018
28, 453
4 580
5 442
27, 961
4,512
5,344
28, 049
4,566
5 366
28,044
4,583
5,429
28,453
4, 580
5,442
28, 668
4,603
5,431
28, 805
4,610
5,428
28, 965
4,627
5,486
29, 074
4,660
5,510
29, 487
4,666
5 557
29 628
4 673
5 560
29, 746
4,726
5,597
30 070
4*753
5 734
30 053
4 777
5 714
10 528
6*357
11 753
7*,035
11 479
6,881
11 435
6,869
11, 433
6,879
U, 753 11, 800
7,035
7,110
11, 933
7,140
12 089
7,226
12 133
7,276
12 293
7,411
12 462
7*545
12, 380
7,380
C
12 501
7 499
12 446
7 443
117, 245
125, 607
10, 275
10,639
11, 352
15, 282
8,991
9,104
10, 839
10, 502
11, 220
11 430
10,892 ' 11 465 11 622
5,475
5,741
1,875
1,473
4,344
2,859
1 508
2,123
1,498
4,693
2,735
1,600
472
55
174
137
367
221
131
483
62
184
121
384
218
147
529
75
199
129
380
224
142
854
129
335
180
630
237
209
351
52
124
90
360
203
138
323
43
121
85
365
205
133
496
62
178
144
396
245
137
458
63
159
130
396
227
141
487
68
177
135
427
267
156
472
67
171
129
441
267
164
410
50
153
111
417
278
152
Nondurable goods stores 9
do
Apparel group
_
do
Food group
do
General merchandise group with nonstores
- mil. $_ _
Department stores
do____
Firms with 11 or more stores: f
E stimated sales (unad j .) , total 9Apparel group 9
_
Men's and boys' wear stores
Women's apparel, accessory stores
Shoe stores
Drug and proprietary stores.
Eating and drinking places
Furniture and appliance group— _ _
do _
do
do
do
do
__do_ __
do
__do
45, 439
19, 801
819
750
' 487
51
'
'
r
'
'
180
144
445
274
165
540
59
189
187
430
226
155
General merchandise group with nonstores 9
mil $
General merchandise group without nonstores!
mil. $
Dept. stores, excl. mail order sales
do
Variety stores.
do_ _
46 102
52 092
4 286
4 442
5 248
7 718
3,300
3 395
4 310
4,218
4 626
4 635
4,385
r 4 gl4
4 774
43, 487
31, 893
5,417
49, 008
36,544
5,398
3,996
2,996
4,143
3,092
4,939
3,625
7,434
5,583
3,104
2,323
3,169
2,313
4,036
2,938
3,989
2,946
4,371
3,246
4 393
3,307
4,165
3,102
493
465
'4 578
' 3, 365
' 503
4 512
3 382
Grocery stores
__ __
_ _
Tire, battery, accessory dealers
_ __do
do
43, 183
1,827
45,235
1,955
4,114
' 4 122 4 304
' 191
173
Estimated sales (seas, adj.), total 9
do
Apparel group 9
Men's and boys' wear stores
Women's apparel, accessory stores
Shoe stores
Drug and proprietary stores
Eating and drinking places
do
do
_ do _
do
do
__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
Total (seasonally adjusted)
_
Durable goods stores
_
Nondurable goods stores. _
Charge accounts
Installment accounts
__do
do
do
do
do
490
3,665
3,810
3,657
3,652
164
177
4,278
180
123
10, 639
10,442
10, 845
10,544
462
60
170
123
387
213
462
57
171
124
397
210
494
65
184
127
394
237
4,525
4,433
4,243
3,180
4,151
3,123
156
450
do
do
All retail stores, accts. receivable, end of yr. or mo.: &
Total (unadjusted)
mil. $__
Durable goods stores
do___
Nondurable goods stores. _ _ _
do
Charge accounts
do
Installment accounts
do___
426
416
3,774
172
458
3,688
4,118
3,893
179
178
4,049
4 206
10, 690
10, 866
11, 027
11, 085
11, 451
11 313
490
64
188
122
410
249
465
62
170
119
394
221
462
60
173
122
411
228
480
68
178
125
413
247
497
73
172
143
430
215
515
74
185
142
430
260
475
66
178
122
448
253
493
67
180
132
432
258
4,605
4,431
4,459
4,538
4 656
4,564
4,844
4 758
4,808
' 4 862 4 943
4,309
3,225
4,205
3,161
4,212
3,114
4,279
3,160
4 373
3 214
4,309
3,158
4 586
3 395
4 504
3 334
4 590
3 398
514
522
' 4 601 4 705
' 3 375 3 516
' 517
515
4 083
4 156
' 4 241 4 123
' 189
184
437
447
3,671
3,821
163
170
446
475
3,701
3,773
147
160
362
121
487
3,907
160
500
511
3 918
4,059
192
171
490
181
510
4 115
169
200
168
178
488
11,445 ' 11 630 11 618
165
' 491
59
' 185
' 137
' 450
'251
22, 860
7,387
15,473
9 001
13, 859
23, 514
7,753
15, 761
9 385
14, 129
21, 760
7,780
13, 980
8 975
12, 785
21, 826
7,791
14, 035
9,032
12, 794
22, 329
7,685
14, 644
9,185
13, 144
23, 514
7,753
15, 761
9,385
14, 129
22,312
7,331
14, 981
8,744
13, 568
21, 855
7,278
14,577
8 695
13, 160
21,900
7,359
14,541
8 865
13, 035
22, 049
7 439
14, 610
9 026
13 023
22, 502
7,640
14, 862
9 449
13 053
22,486
7 809
14, 677
9 452
13 034
22,094
7 687
14,407
9 124
12 970
22,296
7 760
14, 536
9 154
13 142
21, 394
7,214
14, 180
8, 603
12, 791
22, 046
7,580
14, 466
8,986
13, 060
21, 964
7,605
14,359
8,982
12, 982
21, 933
7,581
14,352
8, 907
13, 038
22, 257
7,680
14, 577
9,081
13, 176
22, 046
7,580
14, 466
8,986
13, 060
21, 858
7,508
14, 350
8,862
12, 996
22,083
7 510
14, 573
9,067
13 016
22, 249
7,633
14, 616
9,128
13 121
22, 305
7 603
14, 702
9 128
13 177
22, 593
7 718
14, 875
9 323
13 270
22, 494
7 649
14,845
9 252
13 242
22,504
7 606
14,898
9 163
13 341
22, 724
7 670
15,054
9 231
13 493
l
' Revised.
Advance estimate.
fSee note marked "%" on p. S-ll.
^Series revised
to reflect benchmarking to the levels of the 1968-71 Annual Retail Trade Reports (Census
Bureau), and also recalculation of seasonal factors for all lines of trade; description of revisions
and revised data appear on p. 55 ff. of the Dec. 1971 SURVEY (1968-69) and pp. 24-25 of the
324
467
889
517
63
183
161
442
224
Oct. 1972 SURVEY (1970-71).
9 Includes data not shown separately. §" Except department
stores mailc order.
<?See note marked "J" on p. S-ll; data prior to Feb. 1971 will be shown
later.
Corrected.
SURVEY OF CURRENT BUSINESS
November 1972
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
1971
'1971
Sept.
Annual
S-13
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct."
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OP THE UNITED STATES
mil— 1204.88
i 207. 05
207. 40
207. 59
207. 78
207. 94
208. 08
208. 20
208.31
208. 44
208. 56
208. 70
208. 84
208 98
209 13
209 29
Labor force, persons 16 years of age and over__thous_. 85,903
Civilian labor force
do___. 82, 715
78, 627
Employed total
- do
3,462
Agriculture
- do
75, 165
Nonagricultural industries
-_
do
4,088
Unemployed. .
do
Seasonally Adjusted
Civilian labor force
do
Employed total
do
Agriculture
do
86, 929
84, 113
79, 120
3,387
75,732
4,993
86,884
84, 135
79, 295
3,444
75, 851
4,840
87,352
84,635
80,065
3,470
76, 595
4,570
87,715
85,019
80, 204
3,262
76, 942
4,815
87,541
84,883
80,188
2,948
77, 240
4,695
87, 147
284,553
279,106
2,869
2 76, 237
25,447
87, 318
84, 778
79, 366
2,909
76,458
5,412
87,914
85,410
80,195
3,094
77,101
5,215
87, 787
85, 324
80, 627
3,287
77, 339
4,697
87, 986
85,567
81, 223
3,531
77,692
4,344
90,448
88,055
82, 629
3,976
78,653
5,426
91,005
88,617
83 443
4 061
79,383
5,173
90, 758
88,362
83 505
4 031
79,475
4 857
89,098
86,693
82 034
3 658
78,376
4 658
89, 591
87, 176
82 707
3*721
78, 986
4 470
85, 116
80,020
3,419
76, 601
5,096
1,311
85, 225
80, 098
3,400
76, 698
5,127
1,273
85, 707
80, 636
3,393
77, 243
5,071
1,198
85, 535
80, 623
3,357
77, 266
4,912
1,294
86,313
81, 241
3, 482
77, 759
5,072
1,224
86, 284
81, 205
3,324
77, 881
5,079
1,137
86, 486
81, 394
3 353
78 041
5 092
1,180
86 395
81 667
3 337
78 330
4 728
1 148
86 467 86 860
81 682 81 973
3 445
3 625
78 237 78 348
4 785
4 887
1 155 1 188
on AQO
1,181
84, 750
79, 832
3,416
76, 416
4,918
1,253
S7 flAQ
89 999
662
84, 491
79, 451
3,363
76, 088
5,040
1,250
4.9
3.5
5.9
4.4
5.7
6.0
4.5
5.7
5.8
4.3
5.5
6.0
4.4
5.8
6.0
4.3
5.8
5.9
4.2
5.5
16.7
16.7
17.3
17.8
5.7
4.0
5.0
5.9
4.1
5.4
18.8
17.9
5.9
4.3
5.4
17.3
5.9
4.3
5.9
5.4
5.3
10.4
10.4
5.6
9.4
3.3
3.4
5.4
9.6
2.9
3.4
Total incl. armed forces overseas f—
LABOR FORCE §
Long-term 15 weeks and over
do
Kates (unemployed in each group as percent
of total in the group) :
All civilian workers
Men, 20 years and over
Women, 20 years and over.
Both sexes 16-19 years
White
Negro and other races
Married men
Occupation: White-collar workers
Blue-collar workers
\
Industry of last job (nonagricultural):
Private wage and salary workers
Construction
Manufacturing
Durable goods
4.8
15.3
4.5
8.2
2.6
2.8
a n
16.9
5.4
9.9
3.2
3.5
6.2
16.9
3.3
3.4
3.0
3.4
5.4
5.3
10.4
10.6
5.1
5.3
10.5
10.5
3.6
7-1
2.8
3.3
3.2
3.6
3.0
2.8
3.5
15 7
53
10.7
2.9
3.6
6.8
6.8
5.2
9.7
5.6
5.7
10.4
6.8
7.0
6.2
9.7
6.9
7.0
10.2
6.2
9.7
6.6
6.7
11.2
6.2
6.4
6.9
6.7
6.1
9.8
6.4
6.7
10.3
6.0
6.1
6.1
9.8
6.2
6.3
5.9
10.6
5.8
5.8
6.0
12.5
60
63
5.9
6.3
5.9
55
40
55
14 5
50
9 4
29
55
39
57
14 8
50
99
2 7
3.1
3.4
6.4
5
9
5
5
5
5
6
7
q fifln
7C A4.7
A 097
1 1Q7
7C C99
q o
q Q
K A.
r
5.0
5.0
5 6
39
5 5
e
1fi Q
5 1
9 7
2 6
3.5
6.5
6.4
5
10
5
5
07 97fi
9 ft
3.3
6.1
3.6
5.9
58
11 6
8
9
7
7
K
5.6
10.6
A
K n
5.0
5. 1
4. 8
4.5
EMPLOYMENT
Employees on payrolls of nonagricultural estab.:J
Total, not adjusted for seasonal variation... thous_.
Private sector (excl. government) _ _ _
do
Seasonally Adjusted
Total employees nonagricultural payrolls J do
Private sector (excl. government)
do
Nonmanufacturing industries*
do
Goods-producing*
do
Mining
..do
C ontract construction
do
70, 593
58, 058
70,645
57, 790
71, 162
58,482
71,378
58,340
71,643
58,487
72,039
58, 814
70, 642
57,464
70, 775
57,444
71,393
58,002
71, 979
58, 592
72, 612
59 182
73,463
60 152
72,469 r 72,975 ' 73,569
59 720 t fin 90^ ' 60,341
74,064
60, 469
70,593
58, 058
38,711
23,352
623
3,381
70,645
57, 790
39, 262
22, 542
602
3,411
70,843
57,962
39,445
22, 571
618
3,436
70,861
57,933
39,438
22,491
521
3,475
71,103
58, 122
39, 588
22, 576
71,291
58, 260
39, 741
22, 598
71, 552
58,459
39, 908
22,689
615
3,523
71, 744
58, 599
39, 987
22, 719
72, Oil
58,830
40, 145
22, 811
72 592
59, 318
40 426
23 031
72
59
40
23
72
59
40
22
79 QQ/J.
613
3,494
' 73,232
' 59,791
' 40,774
' 23,169
' 605
r 3, 547
73, 535
60, 056
40, 913
23, 296
3,512
72,246
59, 028
40, 238
22, 888
605
3, 493
Manufacturing
..do
Durable goods
do
Ordnance and accessories
do
Lumber and wood products
do
Furniture and
fixtures
do
Stone, clay, and glass products
do
Primary metal industries
do _
Fabricated metal products
do
Machinery except electrical
do
Electrical equipment and supplies, .do
Transportation equipment
do
Instruments and related products- -do
Miscellaneous manufacturing
do
Nondurable goods
do
Food and kindred products
do
Tobacco manufactures
do ..
Textile mill products _
do
Apparel and other textile products, .do
Paper and allied products ._ _ do .
Printing and publishing
do
Chemicals and allied products
do
Petroleum and coal products
do__.Rubber and plastics products, nee. do
Leather and leather products..
do
Service-producing*
do
Trans., comm., electric, gas, etc
do
Wholesale and retail trade
- do __
Wholesale trade
-_.
..do
Retail trade
do
Finance, insurance, and real estate
do
Services
-- . -•-• do
Government
do
Federal
do __
State and local
do
19,349
11, 195
242
573
460
640
1,316
1,380
1,982
1,917
1,799
460
426
8,154
1,783
83
976
1,365
706
1,102
1,049
191
580
320
47,242
4,493
14, 914
3, 812
11, 102
3,688
11, 612
12, 535
2,705
9,830
18, 529
10, 565
18,495 18,534 18, 519
10, 547 10, 560 10, 552
187
185
183
596
601
601
467
474
470
637
637
639
638
1,192
1,184
1,191
1,187
1,334
1,329
1,338
1,334
1,804
1,805
1,809
1,808
1,765
1,773
1,779
1,773
1,720
1,708
1,705
1,713
439
441
441
438
411
409
412
409
7,965
7,948
7,967
7,974
1,737
1,762
1,756
1,755
75
73
72
74
957
960
965
969
1,332
1,336
1,341
1,331
690
689
686
686
1,067
1,069
1,067
1,068
1,002
1,002
999
1,001
190
190
192
190
592
589
594
593
301
300
301
301
48, 272 48, 370 48, 527 48, 693
4,420
4,406
4,403
4,432
15,232 15, 250 15, 299 15, 333
3,822
3,817
3,830
3,840
11,415 11, 428 11, 469 11, 493
3,821
3,835
3,847
3,855
11,918 11,951 11, 997 12, 042
12, 881 12, 928 12, 981 13, 031
2,663
2,662
2,666
2,666
10, 218 10, 266 10, 315 10, 365
18, 551
10, 575
18, 612
10 621
18, 685
10 673
18, 790
10 755
18, 892
10 837
18 861 r |g 93Q r 1 Q M 7
in &43 r 1A ftQ7 ' 10,958
19, 143
11, 064
192
581
458
634
1,227
1,328
1,805
1,768
1,724
437
410
7,964
1,758
76
957
1,336
684
1,071
1,008
191
581
302
48, 103
4,442
15, 142
3,809
11,333
3,796
11, 869
12, 856
2,664
10, 191
524
3,518
18, 517
10, 552
188
592
465
Production or nonsupervisory workers on private
47, 732 48,396 48, 256 48,398
nonagric. payrolls, not seas, adjusted!., .thous.. 47,934
13, 434 13, 686 13, 569 13, 558
14, 020
Manufacturing
do
Seasonally Adjusted
Production or nonsupervisory workers on private
47, 732 47,900 47,841 48, 021
nonagricultural payrolls^*
thous. . 47,934
16, 717 16, 777 16, 686 16, 766
17, 313
G oods-producing*
do
451
473
468
372
374
Mining*
do
2,820
2,832
2,855
2,888
2,924
C ontract construction*
do_ - 13,434 13,454 13,426 13,468
14,020
Manufacturing
do
8,042
7,598
7,606
7,600
7,616
Durable goods
do -132
96
93
93
91
Ordnance ancl accessories. _
do
2
••Revised.
"Preliminary.
lAsofJulyl.
See note § below.
fSeenote"f,"p.S-14.
§ Effective Jan. 1972, data are adjusted to the 1970 Census; for comparison of Jan. 1972
(and subsequent months) with pre-1972 data, the following approximate amounts (in thous.)
should be added to the earlier figure: Civilian labor force, 330; nonagricultural employed,
290;' unemployed,30(unemployment rates are unaffected). Also, effective Feb. 1972SURVEY,
data reflect new seasonal factors; comparable earlier figures appear in EMPLOYMENT AND
611
3,468
183
604
477
645
1,192
1,335
1,803
1,778
1,699
442
417
7,976
1,758
73
973
614
182
604
481
182
606
483
646
1,190
1,341
1 815
1,786
1,712
443
421
7.991
1,751
73
650
1,209
1,347
1,814
1,795
1,720
444
423
8,012
1,759
76
976
981
185
610
486
651
1,215
1,360
1 824
1,805
1,747
447
425
8,035
1,756
77
984
604
3,535
186
610
488
660
1 228
1,370
1 848
1,818
1,754
452
423
8 055
1,755
76
988
699
475
544
081
600
3 550
18 931
10 857
188
611
490
662
1 222
1 373
1 858
1,830
1,740
457
426
8 074
1,771
75
991
1,328
684
1,072
998
189
600
301
48,863
4,455
15, 379
3,849
11, 530
3,867
12,069
13 093
2,673
10,420
1,336
685
1,072
997
193
605
303
49 025
4,438
15 456
3,863
11 593
3,874
12 112
13 145
2 669
10, 476
1,334
687
1,074
997
191
609
304
49 200
4,487
15 508
3 883
11 625
3,885
12 139
13 181
2 667
10 514
1,344
691
1,076
996
191
615
305
49 358
4,481
15 561
3 894
11 667
3,892
12 206
13 218
2 664
10 554
1,334
700
1,080
1,002
190
621
309
49 561
4,490
15 632
3 914
11 718
3,913
12 252
13* 274
2 665
10 609
1,079
1,001
190
630
309
49 618
4,491
15 682
3*926
11 756
3,931
12 290
13 224
2 646
10 578
48,727
13, 467
47,387
13 325
47, 349
13 413
47, 881
13 521
48,431
13 578
48,979
13 676
48, 141
16, 780
48, 332
16, 881
48,443
16 889
464
2,881
13, 544
7 680
89
48,677
16 986
466
2,904
13, 616
7 729
89
48, 845
17 049
49,124
17 183
457
2 928
13 798
7 876
92
460
2,867
13, 453
7,608
90
465
2,924
13, 492
7,637
456
2 882
13 711
7 805
1,329
AQQ
661
382
521
949
f
r f\Q RR7
599
3 489
_ Q
190
613
494
660
1 214
1 370
1 855
1,826
1,743
456
422
8 018
1,757
75
r 109
, fiitt
r 4.Q7
ftQQ
1,076
995
188
627
305
49 712
4,473
15 692
3 913
11 779
3,927
12 341
606
3,547
197
615
507
670
1,280
1,384
1,900
1,856
1,759
467
663
'663
' 1, 267
1 Q7fi ' 1, 378
' 1, 875
r 1, 830 '1,840
' 1,736 ' 1, 742
'460
463
426
426
T 1 9^fi
c nqq
429
r Q nf»Q
' 1, 738 ' 1, 746
1,744
r 7H
r QQ9
986
1,311
fA A
66
'1,334 '1,335
r
699
702
' 1, 079 '1,083
'997 '1,007
'188
'18S
'629
'632
'307
'306
Af\
AAQ
'Jt,478
'4,489
r ^ QQf>
1,337
, 707
1,084
1,008
189
641
301
50, 239
4,511
15,849
3,955
11, 894
3,964
12, 436
13, 479
2,636
10,843
2 621
10 658
13,317
2,618
10,699
11,840
'3,952
12,396
13,441
2,636
10,805
49,862
13 960
49,407
49,952
14 023
50,004
14 159
50, 117
14. Ififi
49,245
17 231
451
2 934
13 846
7 899
95
49,367
17 226
' 455
r
2 925
2 876
13 785 13 846
7 889 ' 7 942
Qfi
Q7
49,487
49, 696
1<> 970
•jq cnn
49, 122
17 114
453
3,936
17 <V19
n /119
JKO
' 458
2 934
9 CtfW
13 910 14 021
0 A/7Q
7 QQQ
90
91
r Q7
EARNINGS, Feb. 1972 (USDL, BLS).
^Effective Oct. 1972 SURVEY, revised employment, hours, man-hours, and turnover
incorporate adjustments to recent benchmarks and new seasonal factors; comparable
prior to Aug. 1971 to appear in forthcoming EMPLOYMENT AND EARNINGS. 1909-72
Bulletin 1312-9.
'
*New series; see note "}".
mi
data
data
BLS
SUEVEY OF CURRENT BUSINESS
S--14
1970
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown in
the 1971 edition of BUSINESS STATISTICS
1971
1971
Annual
November 1972
Sept.
Oct.
1972
Nov.
Dee.
Jan.
Feb.
Mar.
Apr.
May
June
July 1 Aug.
i
Sept.
Oct. v
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT— Continued
Seasonally Adjusted
Production or nonsupervisory workers on payrolls?
—Continued
Manufacturing, durable goods industries— Con.
Lumber and wood products.
.thous.Furniture and
fixtures
do
Stone clay and glass products
do
Primary metal industries
do
Fabricated metal products
~- -do
Machinery except electrical _ _
do
Electrical equipment and supplies- --do
Transportation equipment
do _ _
Instruments and related products
do
Miscellaneous manufacturing
- do
Nondurable goods
~ do
Food and kindred products
-- do
Tobacco manufactures
- - -do
Textile mill products
do
Apparel and other textile products -. -do
Paper and allied products
do__
Printing and publishing
do
Chemicals and allied products
...do
Petroleum and coal products
do
Rubber and plastics products, nec_..do
Leather and leather products
do.
Service-producing*
.
do
Transportation, comm., elec., gas, etc*_..do
Wholesale and retail trade*
do
Wholesale trade*
do
Retail trade*
do
Finance insurance and real estate*
do
Services'*
'
do
t
493
379
509
1,043
1,051
1,323
1,265
1,241
278
329
5,978
1,201
69
856
1,196
543
678
602
116
443
273
30, 621
3,897
13, 264
3,203
10, 061
2 918
10, 542
500
377
503
968
1,010
1,178
1,171
1,218
261
316
5,836
1,186
63
839
1,168
523
654
580
117
448
258
31, 015
3,844
13, 439
3,181
10, 258
2 984
10, 748
509
383
505
934
1,020
1,180
1,173
1,228
263
318
5,848
1,193
61
840
1,165
530
651
579
117
456
256
31, 123
3,824
13, 514
3,182
10,332
3,003
10,782
514
384
506
935
1,016
1,177
1,181
1,214
264
316
5, 826
1,166
59
842
1,168
529
652
578
117
459
256
31, 155
3,809
13, 519
3,189
10, 330
3,012
10, 815
518
387
509
930
1,015
1,183
1,183
1,219
265
316
5,852
1,185
61
847
1,172
526
651
578
116
460
256
31, 255
3,807
13, 563
3,195
10,368
3,023
10, 862
517
391
507
930
1,011
1,182
1,188
1,213
262
317
5, 845
1,183
59
851
1,162
526
651
577
118
461
257
31,361
3,830
13, 600
3,202
10, 398
3,025
10, 906
519
394
514
939
1,016
1,178
1,189
1,210
265
323
5,855
1,187
60
855
1,158
526
655
577
115
465
257
31, 451
3,857
13,634
3,214
10, 420
3,032
10, 928
519
397
515
940
1,022
1,189
1,198
1,218
266
327
5,864
1,180
60
857
1,165
526
654
576
117
469
260
31, 554
3,835
13, 714
3,225
10, 489
3,037
10, 968
520
399
519
956
1,028
1,189
1,205
1,229
266
329
5,887
1,186
63
864
1,164
529
655
575
117
473
261
31, 691
3,881
13,769
3,249
10, 520
3,047
10, 994
524
402
519
965
1,038
1,200
1,214
1,252
269
331
5,906
1,186
63
865
1,173
531
656
575
117
478
262
31, 796
3,875
13, 825
3,259
10, 566
3,049
11, 047
524
402
526
978
1,049
1,223
1,223
1,257
273
329
5,922
1,182
63
868
1,166
539
658
580
117
483
266
31,941
3,886
13, 894
3,279
10,615
3,065
11, 096
526
405
528
973
1,053
1,233
1,237
1,241
276
332
5,947
1,202
63
870
1,161
539
656
581
117
492
266
32,014
3,879
13, 924
3,286
10,638
3,077
11, 134
527
409
528
966
1,049
1,231
1,233
1,245
276
329
5,896
1,188
62
867
1,140
539
655
578
116
489
262
32, 008
3,861
13, 912
3,273
10,639
3,069
11, 166
37.1
42.7
37.4
39.8
37.0
42.3
37.3
39.9
37.0
37.0
42.5
37.6
40.0
39.9
3.0
37.1
37.0
42.3
39.0
40.2
40.1
3.0
37.1
37.3
42.4
36.8
40.7
40.2
3.1
37.0
36.7
42.7
37.1
39.8
40.1
2.9
37.2
36.8
42.5
37.3
40.1
40.4
3.2
37.1
36.9
42.8
37.2
40.3
40.4
3.3
37.3
37.0
42.4
36.7
40.5
40.8
3.5
37.0
36.9
42.3
36.7
40.5
40.5
3.4
37.1
37.4
42.6
36.9
40.9
40.7
3.4
37.2
37.6
42.1
37.0
40,4
40.6
3.4
37.1
37.6
42. 5
37.1
40.6
40.6
'3.5
37.3
37.4
'42.9
37.1
40.9
40.7
'3.6
37.3
37.3
42.2
37.7
40.8
40.7
3.5
'528
'527
••411
'413
530
'529
'988 ' 1, 015
1,056 ' 1, 055
r 1,242 '1,248
' 1, 236 '1,244
'•I, 243 ' 1, 247
'282
'279
332
332
r 5, 904 ' 5, 921
1,167 ' 1, 171
54
'57
'874
'873
' 1, 162 ' 1, 163
539
542
'656
'658
'578
'585
117
117
'494
491
'263
'264
' 32,141 ' 32,185
' 3, 856 ' 3, 872
' 13,979 ' 14,014
' 3, 292 ' 3, 300
r 10,687 ' 10,714
'3 077 '3 088
' 11,229 ' 11,211
529
420
535
1,027
1,060
1,268
1,265
1,254
285
334
5,943
1,172
54
882
1,166
546
657
586
118
503
259
32,284
3,892
14 064
3,313
10, 751
3 090
11, 238
AVERAGE HOURS PER WEEK
Seasonally Adjusted
Avg. weekly hours per worker on private nonagric.
payrolls' J ^Seasonally adjusted
hours
Not seasonally adjusted
do
Mining
do
Contract construction
- do
Manufacturing: Not seasonally adj usted . . . do
Seasonally adjusteddo
Overtime hours
do
30
29
36.9
37.0
42.1
35.8
39.8
39.6
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
Pr imary metal industries
- do
Fabricated metal products
_ -do
Machinery, except electrical
do
Electrical equipment and supplies
do
Transportation equipment
_ . _ do
Instruments and related products
do
Miscellaneous manufacturing ind
do
40.3
3.0
40.5
39 7
39 2
41 2
40.5
40.7
41 1
39.8
40.3
40.1
38 7
40.4
2.8
41.7
40 3
39 8
41 6
40.4
40.4
40 6
39.9
40.7
39.8
38 9
39.7
2.8
41.8
40.3
39.5
41.4
39.5
39.6
40.6
39.7
38.6
39.8
39.0
40.4
2.8
41.7
40.7
39.8
41.9
40.3
40.2
40.8
39.9
40.4
40.0
39.1
40.6
2.9
41.9
40.7
40.0
41.8
40.4
40.5
41.1
40.1
40.7
40.1
39.1
40.9
3.0
41.9
40.7
40.0
41.6
40.9
40.9
41.2
40.2
41.5
40.4
39.2
40.6
2.9
41.7
40.9
40.3
41.9
40.6
40.6
41.0
40.0
40.9
40.3
39.1
41.1
3.2
42.2
40.8
40.6
42.0
41.0
41.0
41.4
40.6
41.7
40.6
39.4
41.0
3.3
42.0
40.9
40.4
42.0
41.1
40.9
41.4
40.2
41.7
40.3
39.2
41.4
3.7
42.2
41.1
40.7
42.0
41.4
41.4
41.9
40.8
43.0
40.7
39.6
41.1
3.5
42.0
41.0
40.5
41.8
41.3
41.1
41.8
40.4
41.9
40.6
39.4
41.3
3.4
42.0
41.2
40.8
42.0
41.4
41.2
42.1
40.5
41.6
40.6
39.5
41.2
3.5
42.4
41.1
40.4
41.9
41.4
41.3
42.0
40.3
41.3
40.4
39.3
41.3
3.6
'42.7
41.2
40.5
'41.9
'41.5
'41.2
'42.3
40.5
41.2
40.6
39.5
'41.3
'3.8
'41.9
'41.4
'40.5
'41.8
'42.0
41.0
'42.4
'40.7
'41.6
'40.8
'39.5
41.4
3.7
41.6
40.7
40.6
42.1
42.7
41.0
42.0
40.4
41.7
40.9
39.2
Nondurable goods
_ __do_ __
Overtime hours
_ _ -do
Food and kindred products
do
Tobacco manufactures
do
Textile mill products
do
Apparel and other textile products
do__-~
39.1
3.0
40 5
37.8
39 9
35 3
39.3
3.0
40.3
37.0
40 6
35.6
39.2
3.1
40.0
36.5
40.5
35.7
39.3
3.0
40.1
35.1
40.8
35.9
39.5
3.0
40.0
35.6
41.1
36.2
39.5
3.0
40.3
35.5
41.0
35.9
39.4
3.1
40.0
34.6
41.2
35.9
39.6
3.2
40.1
34.1
41.2
36.2
39.6
3.3
40.6
34.5
41.4
35.8
39.8
3.5
40.7
34.1
41.7
36.2
39.6
3.2
40.4
33.7
41.2
35.6
39.7
3.3
40.5
34.2
41.3
35.9
39.6
3.3
40.4
34.3
41.2
36.0
39.8
'3.3
40.3
35.4
41.3
'36.0
39.7
'3.3
40.1
'34.1
'41.4
'36.2
39.7
3.3
40.6
36.2
41.3
36.1
Paper and allied products
do
Printing and publish ing
_,
_. do
Chemicals and allied products
do
Petroleum and coal products
- do
Rubber and plastics products, nee
do
Leather and leather products
do. __
41.9
37.7
41 6
42.7
40.3
37 2
42.1
37.5
41 6
42.4
40.3
37.7
41.9
37.4
42.0
42.4
40.0
37.5
42.1
37.5
41.5
42.3
40.4
37.9
42.3
37.6
41.5
42.0
40.6
38.2
42.4
37.5
41.7
42.6
40.8
38.0
42.2
37.4
41.7
42.4
40.8
38.1
42.6
37.6
41.8
42.2
41.0
38.5
42.7
37.6
41.8
42.2
41.0
38.2
42.9
38.0
41.7
42.4
41.3
39.1
42.5
37.7
41.6
42.0
41.0
38.6
43.0
37.9
42.0
42.2
41.3
38.6
42.8
38.0
41.8
41.6
40.9
38.4
'43.0
'37.9
'41.7
'41.8
41.4
'39.0
'42.9
38.2
'41.7
'42.4
41.1
'38.6
42.6
37.9
41.8
42.1
41.0
38.0
40 5
35 3
40.2
35.1
39.8
33.7
37 0
34 2
40.5
35.1
39.7
33.6
37.0
34.2
40.2
35.2
39.8
33.7
37.1
34.2
40.4
35.2
39.9
33.7
37.0
34.1
40.5
35.3
39.8
33.9
37.0
34.2
40.2
35.1
39.8
33.7
37.3
34.1
40.3
35.1
39.9
33.6
37.1
34.2
40.4
35.2
39.9
33.6
37.1
34.1
40.4
35.2
39.9
33.7
37.3
34.1
40.6
35.1
40.0
33.7
37.1
34.0
40.6
35.3
39.9
33.8
37.2
34.1
40.3
35.1
39.8
33.7
37.3
34.3
'40 7
'35 0
'39 6
'33 6
37 1
'34 1
'40 5
35.0
39.8
33.5
' 37 2
34 4
40 7
35 1
39.8
33.6
37 2
34 3
137. 72 137. 58
111. 72 111, 49
1.35
1 32
6.42
6 62
38.02
38. 34
9.27
9.29
27.85
27 74
7.36
7.30
21.21
21 11
26.00 26.09
138. 18
112. 07
1.15
6.81
38.29
9.18
27.96
7.41
21.27
26.12
139. 02
112. 80
1.15
7.16
38.51
9.22
28.07
7.41
21.29
26.22
139. 38
112. 99
1.35
6.66
38.60
9.30
28.23
7.42
21.43
26.39
139. 73
113. 04
1.36
6.80
38.50
9.31
28.17
7.50
21.40
26.69
140. 40
113. 60
1.36
6. 78
38.88
9.30
28.27
7.47
21.54
26.80
140. 77
113. 97
1.37
6.79
39.00
9.43
28.37
7.50
21.52
26.80
141. 72
114. 58
1.33
6.67
39.44
9.41
28.52
7.55
21 64
27.15
142.04
114. 92
1.33
6.75
39.48
9.48
28.68
7.55
21.66
27.13
142. 59
115. 50
1.33
6.81
39.67
9.48
28.81
7.60
21.79
27.09
142. 29
115. 22
1.31
6.71
39.46
9.37
28.74
7.62
22.01
27.07
'142.66 '143.72
'115.72 '116.11
1.33 '1.35
'6.84 '6.84
' 39. 70 ' 39. 86
'9.48 ' 9. 45
'28. 76 ' 28. 79
7.64
7.59
' 22. 02 ' 22. 17
f 26. 94 ' 27. 61
144.36
116. 81
1.33
6.95
40.17
9.55
28.97
7.67
22.18
27.55
102.6
93.0
98.6
100.2
103.1
94.0
79.1
106.4
103.9
95.3
79.2
111.8
104.1
94.9
97.6
103.4
Trans., comm., elec., gas, etc
Wholesale and retail trade
Wholesale trade
_.
Retail trade....._
Finance, insurance and real estate
Services
do_ _ do
._ do
do
do
do
40; 0
33.8
36 8
34 4
MAN-HOURS
Seasonally Adjusted
Man-hours of wage and salary workers, nonagric,
establishments, for 1 week in the month, seasonally adjusted at annual rate J.-bil. man-hours. Total private sector*
do
Mining
do
Contract construction
do
Manufacturing..
do
Transportation, comm . , elec . , gas
do
Wholesale and retail trade
do
Finance, insurance, and real estate
do
Services
do
Government*
do_.
Indexes of man-hours (aggregate weekly) : J 1J
Private nonagric. payrolls, total*
1967 = 100 .
Goods-producing* _
do
Mining*
... _
do
Contract construction*
do
r
Revised.
* Preliminary.
*New series.
t See note "J," p. S-13.
1) Production and nonsupervisory workers.
138. 05
112. 63
1 38
6 57
39.94
9.46
27 44
7.06
20 77
25.42
103.7
97.4
100.9
103.4
102.8
94.0
95.6
103.5
104.8
105.2
106.2
106.7
105.9
104.3
106. 4
106.8
107.3
107.9
96.0
97.5
98.2
96.5
97.5
95.3
97.3
98,2 '98.8
99.6
98.7
96.7
96.7
96.1
95.4 ' 96. 8 '98.3
99.3
99.8
96.7
105.3
105.9
103.7
106.3
106.1
105.3
104.3 r 106. 3 ' 106. 7
108.4
NOTE FOR S-13: fRevisions (back to 1960), to adjust to the 1970 Census, appear in "Estimates of the Population of the United States and Components of Change: 1940 to 1972"
(P-25, No. 481), Bureau of the Census.
SimVE_Y_QZ_CIffiEENT BUSINESS
November 1972
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
1971
1971
Annual
S-15
Sept.
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct. 9
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
MAN-HOURS— Continued
Indexes of man-hours, private nonagric. payrolls,
goods-producing indus.J, fseas. adjusted— Con.
Manufacturing
.1967=100
Durable goods.
do__
Nondurable goods
do
Service-producing*
do
Transportation, comm., elec., gas* _ . - . -do
Wholesale and retail trade*
_do_ _
Wholesale trade*
do
Retail trade*
do
Finance, insurance, and real estate*
do
Services*
-. .do
HOURLY AND WEEKLY EARNINGS
Average hourly earnings per worker :f J
Not seasonally adjusted:
Private nonagric . payrolls
_
dollars _ .
Mining
do
Contract construction
do
Manufacturing
_..
do._
Excluding overtime
_do
Durable goods
do _
Excluding overtime
do
Ordnance and accessories
do
Lumber and wood products
do
Furniture and fixtures
_. __do _
Stone, clay, and glass products
do
Primary metal industries
do
Fabricated metal products
-do
Machinery, except electricaldo __
Electrical equipment and supplies -do
Transportation equipment
do
Instruments and related products. -do
Miscellaneous manufacturing ind___do
Nondurable goods
do...
Excluding overtime
do
Food and kindred products
do
Tobacco manufactures
do
Textile mill products _
do _ : _
Apparel and other textile prod
do
Paper and allied products
do
Printing and publishing
_ ___do
Chemicals and allied products
do
Petroleum and coal products
do
Rubber and plastics products, nee -do
Leather and leather products . _ -.do
Transportation, comm., elec., gas
do
Wholesale and retail trade
do _
Wholesale trade
do
Retail trade
do
Finance, insurance, and real estate - do
Services
_
do
Seasonally adjusted:*
Private nonagricultural payrolls
Mining
Contract construction
Manufacturing
Transportation, comm., elec gas
Wholesale and retail trade
Finance, insurance, and real estate
Services
do
do
_ do
do
do
_ do__
do__ _
do
Indexes of avg. hourly earnings, seas, adj.: ®*f
Private nonfarm economy:
Current dollars
1967=100..
1967 dollarsA
do
Mining
do
Contract construction
do
Manufacturing
do
Transportation, comm., elec., gas
do _
Wholesale and retail trade
do
Finance insurance and real estate
do
Services
do
Hourly wages, not seasonally adjusted:
Construction wages, 20 cities (E NR): d*
Common labor
. $perhr__
Skilled labor
do
Farm, without board or rm. 1st of mo
..do
Railroad wages (average, class I)
do
Avg. weekly earnings per worker, "[[private nonfarm:
Current dollars, seasonally adjusted*
1967 dollars, seasonally adjusted* A
Spendable earnings (worker with 3 dependents) :
Current dollars, seasonally adjusted.
1 967 doll ar s, seasonally adj usted A
Current dollars, not seasonally adjusted:!
Private nonfarm, total ._ .
dollars. _
Mining..
__
do
Contract construction
do .
Manufacturing
_ . do
Durable goods..
._
do
Nondurable goods
do
Transportation, comm., elec., gas
do _ _
Wholesale and retail trade _
_ ...do
Wholesale trade
do
Retail trade
do._
Finance, insurance, and real estate __do
Services
do
96.2
94.2
99.1
92.3
89.1
97.1
104.9
105.7
106.9
105.2
113.0
111.3
102.7
106. 7
105.5
107.1
116.1
112.8
91.6
87.8
97.1
109.3
103.0
107.0
105.4
107.5
116.9
113.2
92.3
89.1
97.0
109.5
101.8
107.3
105.9
107.8
117.5
113.6
93.0
89.7
97.8
109.8
102.3
107.7
106.4
108,2
117.6
113.7
93.3
90.2
97 7
110.5
103.1
108.4
106.4
109.2
117.7
114.5
93.2
90.1
97.7
110.5
103.1
108.2
106.8
108.8
118.9
114.4
94.3
91.6
98.3
110.8
102.8
108.7
107.4
109.2
118.5
115. 2
94.8
92.0
98 8
111.3
104.3
109.1
108 2
109.5
118.9
115.1
96 4
94.1
99 8
111 8
104.1
109.8
108 5
110. 3
119.6
115.7
96 2
94 2
99 i
112 2
104.9
110 5
109 5
110 8
119 6
115.8
96 9
94 6
100 1
112 7
104.7
110 9
109 4
111 4
120 4
116.6
96 2
94 2
99 0
112 6
103.5
110 4
108 7
111 1
120 4
117 6
3.22
3.85
5.24
3.36
3.24
3.55
3.43
3.61
2.96
2.77
3.40
3.93
3.53
3.77
3.28
4.05
3.35
2.83
3.08
2.97
3.16
2.91
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
3.43
4.06
5.69
3.56
3.44
3.79
3.66
3.84
3.15
2.90
3.66
4.23
3.74
3.99
3.48
4.41
3.52
2.97
3.26
3.14
3.38
3.15
2.57
2.49
3.67
4.20
3.94
4.57
3.40
2.60
4.20
2.87
3.67
2.57
3.28
3.01
3.50
4.16
5.83
3.60
3.46
3.82
3.68
3.89
3.22
2.95
3.75
4.34
3.77
4.04
3.51
4.39
3.56
2.98
3.31
3.18
3.38
3.01
2.58
2.52
3.76
4.29
4.03
4.66
3.46
2.62
4.33
2.90
3.72
2.60
3.30
3.06
3.50
3.92
5.87
3.59
3.46
3.82
3.68
3.90
3.22
2.93
3.73
4.34
3.76
4.04
3.60
4.41
3.54
2.97
3. 29
3.17
3.38
3.00
2.59
2.51
3.73
4.27
4.00
4.65
3.45
2.63
4.31
2.90
3.72
2.60
3.31
3.06
3.49
3.93
5.87
3.59
3.46
3.82
3.68
3.87
3.21
2.93
3.72
4.36
3.77
4.04
3.50
4.41
3.55
2.98
3.29
3.17
3.41
3.07
2.59
2.51
3.73
4.28
4.00
4.64
3.44
2.62
4.32
2.91
3.74
2.60
3.30
3.06
3.52
4.28
5.90
3.69
3.55
3.92
3.78
3.98
3.19
2.98
3.74
4.49
3.86
4.15
3.58
4.59
3.61
3.06
3.37
3.24
3.52
3.29
2.62
2.54
3.80
4.36
4.06
4.64
3.51
2.65
4.40
2.91
3.78
2.61
3.34
3.09
3.55
4.34
5.96
3.70
3.58
3.94
3.80
3.98
3.21
2.98
3.76
4.53
3.88
4.16
3.59
4.57
3.66
3.08
3.39
3.26
3.53
3.32
2.69
2.55
3.81
4.36
4.10
4.83
3.52
2.68
4.45
2.97
3.82
2.66
3.40
3.12
3.56
4.33
5.95
3.72
3.59
3.96
3.81
4.03
3.21
2.99
3.78
4.54
3.89
4.18
3.60
4.62
3.68
3.07
3.40
3.27
3.54
3.38
2.71
2.57
3.83
4.36
4.12
4.87
3.52
2.70
4.47
2.98
3.82
2.66
3.40
3.13
3.58
4.32
5.94
3.74
3.60
3.98
3. 83
4.01
3.23
3.02
3.82
4.56
3.92
4.20
3.62
4.64
3.69
3.07
3.41
3.28
3.56
3.40
2.71
2.57
3.84
4.40
4.11
4.88
3.52
2.70
4.50
2.98
3.83
2.67
3.40
3.14
3.61
4.36
5.96
3.76
3.62
4.01
3.85
4.06
3.26
3.03
3.85
4.60
3.94
4.22
3.62
4.69
3,70
3.09
3.43
3.30
3.59
3.46
2.71
2.58
3.86
4.44
4.12
4.93
3.55
2.70
4.55
3.00
3.86
2.68
3.45
3.16
3.62
4.33
6.01
3.78
3.63
4.02
3.86
4.07
3.29
3.03
3.87
4 61
3.95
4.24
3.64
4 71
3.71
3.10
3.44
3.31
3.61
3.49
2.71
2.57
3 87
4.47
4.16
4 95
3.55
2.71
4 57
2 99
3.84
2 69
3 43
3.15
3.63
4 34
5 94
3.79
3.63
4 03
3.86
4.09
3 33
3 05
3.91
4 62
3 98
4 26
3.65
4 69
3.71
3.10
3 45
3.31
3.59
3 53
2 72
2.59
3 92
4 47
4.20
4 94
3.56
2 70
4 58
3 00
3 85
2 69
3 43
3 14
3.64
4 35
5 96
3 78
3.63
4 01
3 85
4.10
3 34
3 04
3
93
C
4 64
3 97
4 24
3.66
4 63
3.70
3 09
3 48
3 34
3.59
3 57
2 71
2 58
3 97
4 49
4 23
4 97
3.61
2 70
4 66
3 oi
3 87
2 70
3 45
3 14
3.22
3.85
5.24
3.36
3.85
2.71
3.08
2.81
3.43
4.06
5.69
3.56
4.20
2.87
3.28
3.01
3.48
4.16
5.78
3.60
4.30
2.90
3.31
3.04
3.49
3.91
5.81
3.59
4.31
2.90
3.32
3.06
3.49
3.90
5.83
3.59
4.31
2.91
3.30
3.06
3.53
4.28
5.88
3.68
4.40
2.94
3.35
3.09
3.55
4.32
5.91
3.69
4.45
2.96
3.39
3.11
3.56
4.31
5.93
3.72
4.46
2.96
3.37
3.12
3.59
4.31
5.97
3.74
4.53
2.97
3.38
3.14
3.62
4 35
6.01
3 76
4 57
2 99
3.44
3 17
3.62
4 34
6 02
3 78
4 58
2 98
3 43
3 15
3 63
4 37
6 01
3*79
4 59
3 00
3 43
3 15
131.4
107.5
129.8
140.0
128.9
132.5
129.6
128.1
132.9
131. 8
107.7
126.1
140.9
129.3
133.1
130.0
128.4
133.1
131.8
107 5
126 6
141.5
129.0
133.5
130.0
127.7
133.5
133.6
108 6
132 8
142 2
131 3
136.0
131.7
129 5
134.6
134.6
109 1
134 3
143 3
132 1
137.5
132. 4
130 8
136.2
134.8
108 7
134 1
143.8
132.7
138.0
132.4
130.2
136.1
135.5
109 2
134 6
144 6
133 2
139.8
132 9
130 9
136.5
136.7
110 0
135 7
145 3
133 9
141 7
134 0
133 4
137 9
136.7
109 6
135 2
145 4
134 5
141 8
133 6
132 5
137 5
137.1
6.182
8.511
1.70
6.182
8.511
6.228
8 551
6.276
8 636
1.82
6.319
8.742
6.333
8 763
6 345
8 818
1 84
6 387
8 867
6 460
8 958
5.224
7.314
1.64
13.939
5.956
8.254
1.73
14.416
6.185
8.515
119.46
102. 72
126.91
104. 62
128.41
105. 08
129. 13
105. 51
129. 48
105. 59
130. 96
106. 47
131. 35
106. 48
132. 43
106. 75
133. 19
107. 32
135 03
108 62
133 94
107 39
104. 61
89.95
112. 12
92.43
113.30
92.72
113.86
93.03
114. 14
93.08
115.31
93.75
117.30
95.09
118. 15
95.24
118. 75
95 69
120. 20
96 69
119. 46
164.40
195. 98
133. 73
143.07
120.43
155. 93
95.66
137. 60
82.47
113. 34
96.66
126.91
171.74
212.24
142.04
153. 12
128. 12
168. 84
100.74
146. 07
86.61
121.36
102. 94
129. 50
175. 14
215. 13
143. 28
152.80
130. 75
176. 66
102.08
147. 68
87.62
121.77
104.35
129. 50
167. 78
224.23
143. 60
154. 71
129. 63
174. 12
101. 50
148. 06
87.10
122. 80
104. 35
129. 13
166.24
222. 47
144. 32
155. 47
130. 28
175. 39
101. 56
148. 85
86.84
122. 10
104.04
131.30
182. 76
214. 76
160. 18
162. 29
134. 13
178. 64
103. 31
151 96
89.00
123. 58
105. 68
130. 29
184. 02
213 37
147. 26
158. 78
132 55
177 11
103.06
151 27
88 31
126 82
105. 77
131 01
181. 43
214 20
149 17
161. 17
133 28
179 69
103 11
151 65
87 78
126 14
106. 42
132 10
182 30
218 59
150 72
163 18
134 35
180 90
103 70
152 43
88 64
126 14
106. 7fi
133 57
184 86
218 14
152 28
165 21
135 49
181 55
104 40
153 24
89 24
128 69
107.44
4. 645
' Revised.
v Preliminary.
i Includes adjustments not distributed by months.
JSee corresponding
note, p. S-13.
^Production and nonsupervisory workers.
*New
c
series.
Corrected.
(DSource, USDL, Bureau of Labor Statistics; the indexes exclude effects of changes in the
proportion of workers in high-wage and low-wage industries, and the total and manufacturing
I AQ Q
IQf! Q
145 6
135 0
141 7
134 4
133 0
137 4
3
4
6
3
4
3
3
3
64
39
01
79
65
02
45
14
137.8
nn ft
137 3
145 6
-jqe q
'96.8 '97.5
'95.1 '96.0
99.3 '99.6
112.8
113.2
'. 104. 4 '104.3
' 110. 6 ' 110. 8
' 108 8 '109 6
f 111 2 '111 2
'120 1 '120 8
* 117 6 ' 118. 4
'3.66
4.37
'6.03
3.80
3.64
4.04
3.87
'4.10
'3 33
'3 08
3 96
r 4 gg
r 3 99
4 26
3.68
r
4 71
'3.71
3 09
3.47
'3.32
' 3. 57
'3 38
2 73
' 2 61
r 3 97
4 49
r 4 23
r 4 94
3.63
f 2 70
r 4 7fl
r 3 13
3.51
3.36
' 3. 61
'3 36
2 75
' 2 65
r 4 oi
r 4 56
r 4 27
' 4 98
3.65
2 72
r 4 73
3.73
4.40
6.17
3.87
3.70
4 11
3 93
4.15
3 36
3 14
4 02
4 72
4 04
4 33
3.72
4 85
3.77
3 14
3 52
3 37
3.64
3 36
2 76
2 67
4 02
4 56
4 28
5 01
3.65
2 73
4 7^
3 01
3 86
' 3 05 q AC
' 3 91 3 Q1
44
r 9 7^
r ^ 4fi
r 3 99
3 4O
3 67
4 41
r 3 69
3 72
r 6 06
r 6 08
T q op.
r
_ n 7n
3
. q "M
q oq
r 4 70
r q r»q
3 45
- q -10
138.3
i 10, 1
_ -«q7
0
r 14R ft
144 0
135 3
133 9
138 0
6 531
9 051
1 85
'3.72
'4.42
'6.13
'3.86
3.68
'4.11
'3.92
4.15
'3 38
'3 11
3 99
' 4 75
4 05
r 4 33
3! 72
' 4 81
'3.73
98.2
97.0
100 0
113 6
105.3
111 4
110 1
111 9
120 9
118 3
r 4 42
' 4 69
' 3 05
' 3 47
r ^ 9ft,
' 139. 2
r 11ft ^
r 1^ft 9
r 147 ^
q 9/1
4 39
6 10
q 07
4 7^
q AK
3
3
KA
f)A
140.2
iqo
f>
14ft
fl
T 14f\ 9
6 62
9 21
6 71
9 94
1 82
134 67
107 92
135 41 r i 36 16 '137 64
108 06 '108 39 '109 06
-iqo 7f»
119.34
95 59
119.92
96 10
120. 50 '121.09 '122.26
96 16 ' 96 39 r 96 88
123. 14
97 27
133 58
183 16
221 17
153 09
165 62
135 88
184' 17
104 05
152 83
89 58
126 91
infi 47
135
186
223
155
167
137
186
106
154
91
127
' 137. 62
186. 60
'230 35
154 28
166. 04
138 80
r 191 76
'108
06
r
!53 63
r 93 69
127 97
10Q 27
108 fi4
76
62
34
01
65
66
86
50
00
73
60
107 3Q
136 86
184* 44
225 88
152 71
164 01
138 16
189 66
108 36
155 19
93 69
129 03
6 608
9 O7ft.
109 61
'139713 139. 13
' 189. 62 187. 00
' 234. 17 236. 31
' 157. 87 157. 90
' 170. 98 170. 57
140 40 140 10
' 192 51 194 28
'107 06 106. 45
'155 62 155 62
' 91 73 91 52
'128 37 129 83
r l i n 45 110.81
indexes also exclude, for the manufacturing sector only, effects of fluctuations in overtime
premiums. See also note "J," p. S-13. cfvVages as of Nov. 1, 1972: Common, $6.78; skilled,
$9.28.
AEarnings expressed in 1967 dollars are adjusted for changes in purchasing power
since the base period, 1967, by dividing by the Consumer Price Index for the respective period.
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
1971
November 1972
1971
Annual
Sept.
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HELP-WANTED ADVERTISING
Seasonally adjusted index
1967=100..
LABOR TURNOVER!
Manufacturing establishments:
Unadjusted for seasonal variation:
Accession rate, total
mo. rate per 100 employees..
New hires
do
Separation rate, total
do
Quit
do
Layoff
do
Seasonally adjusted:
Accession rate total
do
New hires
do _
Separation rate, total
.
do
Quit
do
Layoff
do .
INDUSTRIAL DISPUTES
Work stoppages:
Number of stoppages:
Beginning in month or year
number
In effect during month
do
Workers involved in stoppages:
In effect during month
do
M!an~davs idle during month or year
do
PLACEMENTS, UNEMPLOYMENT
INSURANCE
92
80
80
80
81
85
85
87
90
93
93
96
103
106
99
4.0
3.9
2.5
4.2
1.8
1.6
4.8
3.4
5.3
2.9
1.5
3.9
2.7
4.3
1.9
1.5
3.3
2.2
3.7
1.5
1.5
2.5
1.6
3.8
1.2
1.8
4.1
2.6
4.0
1.7
1.4
3.7
2.4
3.5
1.6
1.1
4.0
2.7
38
1.9
1.1
4.0
2.9
3.7
2.0
1.0
4.8
3.6
3.9
2.2
.8
5.2
41
42
22
1i
4.6
34
48
2 2
17
'6.0
'44
'54
36
9
»5.3
p4 3
P5 4
v35
v 9
3.9
2.6
4.0
1.8
1.6
3.8
2.5
4.0
1.7
1.5
4.1
2.8
4.1
1.9
1.4
3.9
2.7
4.3
1.9
1.4
4.4
3.0
4.2
2.0
1.3
4.4
3.0
4.2
2.1
1.2
44
31
43
2.2
12
4.3
3.2
4.0
2.1
1.1
47
35
4.2
2.3
10
40
29
46
23
14
A Q
39
44
22
19
4 7
r ^ A.
r d. 3
'24
1 0
T> 9 1
'352
••670
304
'553
315
'562
'219
'486
310
470
320
480
400
'530
440
640
510
720
425
670
380
640
360
630
440
710
'46
235
'238
'453
5, 034 ' 3, 109
83
155
2,303
61
140
1,618
127
165
1,544
146
217
2,031
126
203
2,139
311
388
3,513
177
426
3,185
108
198
2,492
129
214
2,049
2.8
4.8
2.1
1.8
' 5, 138
5,716
'3 280
3 305
66 414
3 845
Unemployment insurance programs:
2,070
Insured unemployment all programs § 9 do
State programs:
15, 387
Initial claims
- _ _ do_ _
1,805
Insured unemployment avg weekly do
Percent of covered employment:^
3.4
Unadjusted
- Seasonally adjusted
I sis
Beneficiaries average weekly
thous
Benefits paid
mil. $_ 3, 848. 5
Federal employees, insured unemployment,
31
average weekly
thous
Veterans' program (UCX):
556
Initial claims
do
79
Insured unemployment, avg weekly do_ _
75
Beneficiaries average weekly
do
203.2
Benefits paid
mil. $
Railroad program:
128
Applications
.
thous_.
18
Insured unemployment avg weekly do
38.7
Benefits paid
mil. $__
r
1
47, 589
r
'111
246
'330
'326
3, 230 ' 5, 511
r
B
A O
7, 0 O
J> A. 1
3 700
353
313
317
266
2, 593
2,174
2,129
2,311
2,666
3,097
3,123
2,923
2,431
2,105
1,952
2,088
1,763 v 1, 554
15, 337
2 150
1,043
1,739
1,048
1,716
1,336
1,879
1,623
2,221
1,643
2,524
1,241
2,492
1,095
2,279
947
2,005
991
1,740
1,095
1,636
1,378
1,823
1,565
v 1, 388
4.1
3.2
4.4
1,280
367.2
3.5
4.2
1,352
406.9
4.2
3.8
1,640
489.6
4.8
3.4
2,136
550.9
4.7
3.5
2,112
589.5
4.3
3.5
2,071
628.9
3.8
3.6
1,830
472.9
3.3
3.7
1,505
429.2
3.1
3.6
1,342
382.1
3.4
3.7
1,376
364.3
2.9
3.4
1 814
4, 957. 0
3.3
4.3
1,328
400.3
2.6
3.4
34
33
35
35
35
37
36
34
30
28
29
38
39
*>38
622
131
115
356.0
48
106
107
29.6
43
97
95
25.0
51
105
95
26.1
59
118
108
29.2
68
133
126
30.0
57
140
131
33.6
54
136
137
38.3
48
127
127
31.7
47
119
114
32.6
43
110
112
30.9
40
107
104
27.5
95
»78
609
26
75.7
100
33
11.1
48
27
7.6
19
48
9.9
7
33
8.9
8
36
8.0
4
27
6.2
4
26
6.0
2
23
4.1
2
15
3.5
11
14
2.8
27
18
2.9
10
17
3.7
*>18
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. _
7,058
31, 765
12, 671
19,094
7,889
31,103
11, 418
19,685
8,148
29, 946
12,304
17, 642
7,811
31, 205
12,351
18,854
7,889
7,479
31, 164 2 31,103
12, 231 11,418
18, 933 2 19,685
7,601
32,167
12, 427
19,740
7,935
32,579
12, 787
19,792
7,985
32,681
12, 778
19,903
7,734
32,814
12,926
19,888
7,443
33,055
12, 560
20,495
7,069
33, 482
12,867
20,615
6,643
33,891
12,923
20,968
6,639
32, 998
12,944
20, 054
6,602
32,645
13, 088
19,557
14, 774
16,347
16,044
16,211
16,194
16,347
16,456
16,684
17,083
17, 299
17,461
17, 667
17,654
17, 722
17, 872
7,187
2,030
5,557
7,917
2,076
6,354
7,766
1,942
6,336
7,826
2,030
6,355
7,870
2,076
6,248
7,917
2,076
6,354
7,971
2,098
6,387
8,039
2, 149
6,496
8,139
2,267
6,677
8,238
2,260
6,801
8,343
2,181
6,937
8,430
2,145
7,092
8,517
2,137
7,000
8,631
2,156
6,935
8,749
2,233
6,890
Bank debits to demand deposit accounts, except
interbank and U.S. Government accounts,
annual rates, seasonally adjusted: ©
Total (233 SMSA's)O
bil. $
New York SMSA
do. .
Total 232 SMSA's (except N.Y.)
6 other leading SMSA 'af
226 other SMSA's
12,202.2 12,221.4 12,915.7 12,383.2 12,530.7 13,027.8 12,785.5 13,169.3 13,400.3 '13,281.3 '12,995.1 '13,970.0 14,023.0
5,570.3 5,755.8 5,918.9 5,523.3 5,687.0 6,013.9 5, 631. 4 5, 801. 4 5, 939. 2 5, 780. 8 5, 633. 0 6, 151. 8 6, 285. 1
6,631.9 6,465.6 6,996.9 6,859.9 6,843.7 7,013.9 7,154.2 7,367.9 7,461.1 '7,500.5 '7,362.1 '7,818.2 7, 737. 8
2,757.5 2,683.2 2,945.2 2,859.8 2, 803. 1 2,913.1 2,932.9 3, 053. 1 3, 148. 8 3, 096. 4 2,996.3 3, 233. 0 3, 191. 0
3,874.4 3,782.5 4,051.6 4,000.2 4,040.6 4, 100. 9 4,221.2 4,314.8 4,312.2 '4,404.1 '4,365.9 '4,585.2 4, 546. 2
do
do
do
Federal Reserve banks, condition, end of period:
Assets, total 9
mil. $_
Reserve bank credit outstanding, total 9 —do
Discounts and advances
do
U.S. Government securities
do
90, 157
99,523
93,755
95,256
93,698
99,523
96,551
94,126
96, 849
98,197 101,533
99,746
99,440
99, 541 '98,658 *99, 998
66, 795
335
62, 142
75, 821
39
70, 218
71, 013
198
67,566
71, 150
211
67, 205
71, 004
146
67,817
75,821
39
70, 218
72,176
15
69, 552
71, 219
6
67, 698
74, 365
255
69, 928
74, 405
60
70, 307
77,234
1,594
71, 607
75, 964
130
71, 356
74, 154
83
70, 822
76, 474 '74, 859
1,092
239
70, 740 69, 874
75,135
481
70,094
9,475
10,303
do
10,457
9,875
9,875
9,875
9,875
9,875
9,875
9,475
9,475
10,303
10, 303
10,303
10,303
do
90, 157
99, 523
93, 755
95,256
93,698
99, 523
96,551
94,126
96, 849
98, 197 101,533
99, 746
99,440
99, 541 '98,658 *>99, 998
Deposits, total
_
Member-bank reserve balances
do
do
26,687
24, 150
31,475
27, 780
28,467
25, 422
28,441
25, 697
26,588
23, 718
31, 475
27, 780
29,471
25,650
27, 252
25, 525
30, 527
27, 869
30,152
27,415
32,423
29,538
30, 942
27, 482
29,263 30,738 ' 29, 719
26,185 28,227 ' 27, 515
29, 118
26,716
Federal Reserve notes in circulation
do
51,386
54,954
52,830
53, 121
54, 186
54, 954
53,801
53, 914
54, 340
54,478
55, 210
55, 702
56, 127
56/351
57, 062
Gold certificate account
Liabilities, total 9
r
1
2
Revised.
* Preliminary.
See note "§", this page.
Beginning Dec. 1971, data
on new basis reflect inclusion of paper issued directly by real estate investment trusts and
several additional finance companies. § Average weekly insured unemployment (all programs) data include claims filed under extended duration provisions of regular State laws;
amounts paid under these programs are not included in the 1971 annual figure.
JSee note "J", p. S-13.
56,347
10,303
d*Insured unemployment as % of average covered employment in a 12-month period.
© Series revised to reflect recalculation of seasonal factors and trading-day adjustment;
revisions for periods prior to Feb. 1971 will be shown later.
©Total 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.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
November 1972
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
1971
j 1971
End of year
S-17
Oct.
Sept.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
FINANCE—Continued
BANKING— Continued
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total
..-.
mil. $_. i 29, 265 131,329
Required
- do. __ 128,993 131,164
1272
1165
Excess
do_
1321
1107
Borrowings from Federal Reserve banks.. .do
Free reserves
do _- i —49
158
30, 802
30, 596
206
501
-295
30,860
30, 653
207
360
-153
30,953
30,690
263
407
-144
31,329
31,164
165
107
58
32, 865
32, 692
173
20
153
31,922
31,798
124
33
91
31, 921
31, 688
233
99
134
32,665
32,429
136
109
27
32,812
32,708
104
119
-15
32,539 '33,021
32,335 '32,874
204
'147
94
'202
110
'—55
33, 148 '33,003 P33, 789
32, 893 '32,841 »33, 556
255
'162
"233
438
'514
-183
'-352
Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:
Deposits:!
Demand adjustedcf
mil. $
82,082
82,842
87,258
91, 683
87,329
86, 494
91, 037
88, 996
90,923
91,211
91,355
87, 739
91,683
Demand total 9
. -.
___
Individuals, partnerships, and corp
State and local governments..
U S Government
Domestic commercial banks
147,355: 152, 699 141, 160 144,435 149,106 152, 699 146,564 151, 788 143, 920 148, 503 150,176
do
103, 149 106,885 96,333 100,492 103, 293 106,885 99,963 102, 735 100,628 101, 536 105,304
do
6,774
6,563
6, 563
do___7,714
7,165
6,112
7,196
7,311
6,575
6,368
7, 200
4,380
7,571
7, 571
8,614
do
3,551
4,531
5, 647
2,237
5,579
3,518
5,027
do__._ 21, 704 20,880 21,200 22,730 24,305 20, 880 22,211 26, 500 20, 190 20,693 21,540
Time, total 9
.Individuals, partnerships, and corp.:
Savings
•_
_
Other time
do .
do
do
119, 443
140, 932 136, 161 137, 160 138, 217 140,932
54, 542
61,274
91,915
91, 964
92, 877
146,201 147, 379 140, 450 146, 133 149, 977
102,358 104, 096 102,374 103, 234 107, 281
6,877
6,749
6,038
6,491
6,031
5,721
4,467
1,715
6,479
4,381
20,034 20,957 20,357 20, 010 21,690
142,532 144, 286 144,863 147, 119 149, 089
149,658 152,123 155, 510 156, 287 157,389
55,869
61,371
57,844
65,476
48,035
51, 650
54, 542
61, 274
53,313
59,737
180, 429
Loans (adjusted), totalcfj __ _ ...
do
81,693
Commercial and industrial
do
8, 560
For purchasing or carrying securities _ do
To nonbank financial institutions.
do__ _ 13,642
34, 035
Real estate loans
do
50, 906
Other loans
_ ._ _do
192,238
83, 770
8,835
14, 504
38, 400
57, 183
186,256 186,003 188,924 192,238 190,040 192,317 194, 538 199, 508
83,435 83,003 82,875 83,770 82,047
82,637 83,905 85,498
8,835
8,844
8,675
7,787
9,765
7,743
9,525 10, 629
13,617 13,204 13, 895 14,504 13,844 14,357
14,681 14, 677
38,400 38,887 39, 178 39,688 40, 423
37,206
37,557 38,049
54,083 51,927 55,161 57,183 56,867
57,031 58,870 59,215
Investments, total!
U.S. Government securities, total
Notes and bonds
Other securities
72,194
28, 061
21, 983
44,133
81, 033
28, 944
24,605
52,089
75,160 77,209
25, 080 26, 187
22, 400 23, 340
50,080, 51,022
79,944
28, 298
24,566
51,646
81,033
28,944
24,605
52,089
80,548
27,881
23,972
52,667
81, 001
27, 927
23, 782
53, 074
81,492
27, 749
23,281
53, 743
81, 179
27, 076
23, 461
54, 103
81, 159
26,958
23,114
54,201
80,063
26,009
22,384
54,054
79,967
25, 770
22, 502
54, 187
80, 033
25, 651
22,085
54,382
81, 015
26, 307
21, 535
54,708
80, 938
25, 955
21, 903
54, 983
Commercial bank credit (last Wed. of mo., except
for June 30 and Dec. 31 call dates) , seas, adj.:
Total loans and investments©
bil. $
Loans©
do
U.S. Government securities _ _
do _
Other securities
do
435.9
292.0
58.0
85.9
485. 7
320. 6
60.7
104.5
477.2
317.0
59.1
101.1
479.8
318.7
58.8
102. 2
485.7
320.6
60.7
104.5
491.4
325.7
59.7
106.0
496.6
328.5
61.0
107.1
505.0
333.8
62.3
108.9
507.4
335.9
62.6
108.9
516.1
341.9
63.1
111.1
517.5
343.7
63.2
110.6
521.9
348.4
62.3
111.2
529.8
356.2
61.4
112.3
535.3
360.0
62.0
113.3
540.4
367.2
59.9
113. 3
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
28.48
2
8.22
28.86
26.32
2
6. 01
26.56 ------
6.18
6.86
6.40
5 52
5.35
5.72
5 59
5 28
5.81
5 84
5 55
6.14
28.46
2
8. 44
2
8. 52
2
8. 49
26.30
26.62
26.46
26.38
6.13
6.47
6.43
6.21
5.37
5.87
5 79
5.39
5
5
5
5
5
6
6
5
4.50
8 north central centers
7 southeast centers
8 southwest centers
4 west coast centers. . _
do
do
do
do
do
do
do
do
Discount rate (N.Y.F.R. Bank), end of year or
month
.___
percent-
472.4
313.0
59.9
99.5
53, 605
60,294
54,124
60,890
56, 578
62, 085
57, 616
61,926
57,295
62, 610
57,624
64,414
57, 892
67, 564
59, 827
70, 796
58, 069
70, 804
58, 160
72,085
199,999 203,082 206, 437 206, 398 211,031 213, 308
84,953 85, 321 84, 990 86, 647 87, 530
84,790
10,500 10,621 11, 456 10, 947 11, 286 11,405
14, 837 15,957 16, 203 16, 417 17, 027 17, 587
41,895 42, 742 43,448 44,126 44,816
41,049
61,140 62, 817 61, 951 63,098 62,434
58,815
54
78
88
60
79
06
07
82
5.50
24.75
5.00
5.00
4.75
4.75
4.60
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
8. 50
26.37
5.99
6.00
6.12
6.12
6.29
6.20
6. 20
6.00
5.90
5.86
5.81
5.81
5.84
2
8. 27
28.20
27.59
27.54
7.67
7.63
7.68
7.62
7.65
7.56
7.62
7.51
7.62
7.45
7.45
7.35
7.38
7.31
7.38
7.30
7.40
7.33
7.41
7.36
7.43
7.37
7.45
7.39
'7.43
'7.42
7.48
7.43
3
7. 31
3 7. 72
37.23
37.95
34.85
35.11
34.91
35.73
5.49
5.75
5.44
6.00
5.05
5.54
5.30
5.92
4.78
4.92
4.81
5.53
4.45
4.74
4.60
5.36
3.92
4.08
3. 95
4.89
3.52
3.93
3.78
4.63
3.95
4.17
4.03
4.55
4.43
4.58
4.38
4.88
4.25
4.51
4.38
5.00
4.47
4.64
4.45
5.00
4.73
4.85
4.72
5.23
4.67
4.82
4.58
5.25
4. 84
5.13
4.91
5.25
5.05
5.30
5.13
5.70
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent.. 36.458
3-5 year issues ._
do
37.37
3 4. 338
35.77
4.668
5.96
4.489
5.68
4. 191
5.50
4.023
5.42
3.403
5.33
3.180
5.51
3.723
5.74
3.723
8.01
3.648
5.69
3.874
5.77
4.059
5.86
4.014
5.92
4.651
6.16
4.719
6.11
Federal intermediate credit bank loans.
do____
Home mortgage rates (conventional 1st mortgages):
New home purchase (U.S. avg.).
.percent-Existing home purchase (U.S. avg.)
do
Open market rates, New York City:
Bankers' acceptances (prime, 90 days)_._ do__._
Commercial paper (prime, 4-6 nionths)__do
Finance Co. paper placed directly ,3-6 mo. do
Stock Exchange call loans, going rate
do__ _.
2
CONSUMER CREDIT 1f
(Short- and Intermediate -term)
Total outstanding, end of year or month
Installment credit, total
Automobile paper
Other consumer goods paper
Repair and modernization loans
Personal loans
__._
By type of holder:
Financial institutions , total. .-_
Commercial banks
Finance companies
Creditunions....
Miscellaneous lenders
mil. $._ ' 127,163 ' 138,394
do
' 102,064
do.__
do
do
do___
' 35, 184 ' 38, 664
' 31, 465 '34,353
' 5, 070 ' 5, 413
'30,345 ' 32, 865
111,295
132,968 ' 133,755 ' 135,415 ' 138,394 ' 137,426 ' 136,941 ' 137,879 '139,410 ' 141,450 ' 143,812 ' 145,214 ' 147,631 148, 976
107,073 ' 107,775 ' 109,088 ' 111,295 ' 110,757 ' 110,510 1 111 257 112,439 ' 114,183 '116 365 ' 117,702 ' 119,911 121, 193
37,812 ' 38,193 ' 38,576 ' 38,664 ' 38,450 ' 38,516 38853
32,045 ' 32,189 32,740 ' 34,353 34,046 ' 33,579 ' 33,695
'5, 364 '5,400 ' 5, 417 ' 5, 413 ' 5, 399 '5,403 ' 5, 437
31,852 31,993 32,355 32,865 32,862 33,012 33,272
... do
'88,164 ' 97, 144 94,275 94,973
.do
'45,398 ' 51, 240 49,654 ' 50,047
do..-. '27,678 '28,. 883 28,069 28,237
95,925
50,557
28,474
97,144
51,240
28,883
96,894
51,157
28,723
97,135
51,264
28,695
97,934
51,782
28,716
39,348 ' 40,063 ' 41,019 ' 41,603 ' 42,323
33,981 ' 34,439 ' 35,041 35,470 ' 36,188
' 5, 504 ' 5, 604 ' 5, 717 ' 5, 799 ' 5, 950
33,606 34,077 ' 34,588 34,832 ' 35,450
99,139
52,629
28,955
42,644
36, 745
6,049
35, 755
::::::::
100,840 102,909 104,132 106,146 107,278
53,624 54,883 55,688 56,846 57, 566
29,310 29,722
30,065 30,464 30, 650
.do
' 12, 986 '14,770 14,310 14,421 14,609 14,770 14,636 14,702 14,910 15,083 15,395 15,786 15,910 16,278 16, 439
..--_--.-. -do..-- ' 2, 102 ' 2, 251 ' 2, 242 ' 2, 268 ' 2, 285 ' 2, 251 '2,378 ' 2,474 ' 2, 526 ' 2, 472 ' 2, 511 ' 2, 518 ' 2, 469 ' 2, 558 2,623
Retail outlets, total
do
'13,900 ' 14, 151 12,798 12,802 13,163 14,151 13,863 13,375 13,323 13,300 13,343 13,456 13,570 13,765 13, 915
Automobile dealers.
,.do
'226
'218
'226
'226
'233
'225
'237
'226
'228
'232
'237
'243
'248
'251
253
r
Revised, p Preliminary.
JRevisions for months prior to Feb. 1971 will be shown later.
2
3
i Average for Dec. Average for year. Daily average.
9Includes data not shown separately.
©Adjusted to exclude interbank loans.
cf'For demand deposits, the term "adjusted" denotes demand deposits other than domestic
§For bond yields, see p. S-20.
commercial bank and U.S. Government, less cash items in process of collection; for loans,
f Revised: new data incorporate adjustment of sample-based estimates to reflect recent
exclusive of loans to and Federal funds transactions with domestic commercial banks and
benchmarks and new seasonal factors. Monthly revisions appear in the October 1972 Fedafter deduction of valuation reserves (individual loan items are shown gross; i.e., before deduceral Reserve Bulletin.
tion of valuation reserves).
487-759 O - S3
SURVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
1971
1971
Sept.
Annual
November 1972
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
' 26,622
' 10,843
'9,491
'1,352
' 26,971
' 10,933
'9,594
'1,339
' 27,267
' 11,066
'9,717
' 1,349
' 27,447 ' 27,512 ' 27,720 27, 783
' 11,181 ' 11,235 ' 11,411 11, 541
' 9, 831 9,900 ' 10,053 10, 165
' 1, 350
1,335 '1,358
1,376
'
'
'
'
'7,464
'5,587
' 1, 877
' 8, 737
' 7, 610
' 5, 689
' 1, 921
' 8, 656
7,644
5,664
1,980
8,633
' 11,224 ' 12,556
' 3, 269 ' 3, 699
' 4, 158 '4,593
' 3, 797 ' 4, 264
' 13,096
' 3, 938
' 4, 779
'4,379
' 11,833
' 3, 480
' 4, 544
' 3, 809
' 13,166
'3,696
' 5, 094
'4,376
11, 535
3,110
4,695
3,730
June
July
Sept.
Aug.
FINANCE—Continued
CONSUMER CREDITfl—Continued
Outstanding credit— Contimied
r
27,099 ' 25,895 ' 25,980
Noninstallment credit, total. _ . - - _ _
mil $__ ' 25, 099
••9,675 ' 10,585 '10,336 '10,373
Single-payment loans, total _ . _ _
do
' 8, 469 '9,316 ' 9, 082 ' 9, 112
Commercial banks
-do
Otherfinancialinstitutions. _ _ _ _ _ _ _ ....do
' 1, 206 r 1, 269 ' 1, 254 ' 1, 261
Charge accounts, total
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—
.
___-__-__
Other consumer goods paper.
All other
do..
_do
do
do
do
do
do.
do
.do
do. __
do
__do
' 26,327
' 10,459
' 9, 189
' 1, 270
' 27,099
' 10,585
'9,316
' 1, 269
' 26,669
' 10,649
'9,342
'1,307
' 26,431
' 10,752
' 9, 415
'1,337
7, 778
5, 826
1, 952
7, 829
' 7, 948
'6,031
' 1, 917
' 7, 920
'8,350
'6,397
' 1, 953
' 8, 164
' 7, 630
' 5, 688
'1,942
'8,390
'6,987 ' 6, 963
' 5, 111 ' 5, 102
'1,876 ' 1, 861
' 8, 692 '8,816
' 112,158 ' r124,281 '10,638
' 29,791 34,873 ' 2, 973
' 43,873 ' 47,821 ' 4, 168
' 38,491 '41,587 '3,497
' 10,334
' 3, 048
' 3, 935
'3,351
' 11,300
' 3, 087
'4,381
' 3, 832
' 12,445
'2,743
' 5, 528
' 4, 174
' 9, 469
'2,499
' 3, 773
' 3, 197
' 9, 540
'2,777
' 3, 422
'3,341
' 11,746
'3,363
' 4, 337
' 4, 046
' 9, 489
' 2, 658
' 3, 692
' 3, 139
'9,632
' 2, 667
'3,791
' 3, 174
*• 9, 987
' 2, 704
' 3, 830
' 3, 453
' 10, 238 ' 10,007
' 2, 655 ' 2, 713
'3,915 ' 4, 080
' 3, 668 ' 3, 214
' 9, 787
' 2, 711
' 3, 889
' 3, 187
' 10,999 ' 10,042
' 3, 026 ' 2, 774
' 4, 221 ' 3, 872
' 3, 752 ' 3, 396
' 10,812
'2,984
' 4, 135
' 3, 693
' 10,914 ' 10,496
' 2, 982 ' 2, 896
'4,177 ' 4, 115
' 3, 755 ' 3, 485
' 10,957
'2,976
' 4, 376
' 3, 605
10, 253
2, 789
4,138
3,326
' 10,827
' 3, 123
' 4, 188
' 3, 516
' 10,718
' 3, 016
' 4, 135
' 3, 567
' 11,157
' 3, 121
' 4, 254
' 3, 782
' 10,866 '11,116
' 3, 051 ' 3, 081
' 4, 153 ' 4, 258
' 3, 662 ' 3, 769
' 10,952
' 3, 100
' 4, 052
' 3, 800
' 11,741
' 3, 176
' 4, 453
'4,112
' 11,374
'3,162
'4,370
' 3, 842
'11,687
' 3, 274
' 4, 393
' 4, 020
' 12,057
' 3, 412
' 4, 577
'4,068
'11,687
' 3, 298
' 4, 684
' 3, 705
' 12,484
' 3, 491
' 4, 990
' 4, 003
11, 953
3,368
4,772
3, 813
'
'
'
'
' 9, 843
' 2, 673
'3,871
' 3, 299
'9,965
' 2, 676
' 3, 875
' 3, 414
' 9, 976 ' 10,015
' 2, 715 ' 2, 795
' 3, 891 ' 3, 905
'3,370 '3,315
' 10,069
'2,776
' 3, 878
' 3, 415
' 10,427
' 2, 831
' 3, 944
' 3, 652
' 10,384
' 2, 867
' 3, 986
'3,531
' 10,355
' 2, 819
'3,981
'3,555
' 10,671
' 2, 922
' 4, 164
' 3, 585
' 10,593
' 2, 917
' 4, 249
' 3, 427
' 10,841 10, 667
' 2, 896
2,873
'4,395
4,303
'3,550 3,491
24, 534 17, 275
19, 113 19, 723
5,421 -2,448
25, 537
23, 255
2,281
15, 207
(22)
()
'7,968'
' 6, 163
' 1, 805
r 7, 456
r 107,199
' 30,137
r 40,721
' 36,341
'8,350
' 6, 397
* 1, 953
'8,164
' 115,050
' 31,393
'44,933
' 38,724
_.do
do
do
do
do
do
do
' 7, 744
'5,759
' 1, 985
' 7, 815
9, 725
2, 689
3, 804
3, 232
'
'
'
'
FEDERAL GOVERNMENT FINANCE
Budget receipts, expenditures, and net lending:
Expenditure account:
Receipts (net)
mil. $
Expenditure (excl net lending)
do
Expend acct surplus or deficit ( — )
do
Loan account:
Net lending
do
i 193,743 1188,392 19, 710 12,462 14,945
i 194,460 1 210, 318 18, 265 18,677 18, 798
i -716 1—21,927 1,444 -6, 215 -3,852
69
-115
-149
1-2,128 1-1,107
Budget surplus or deficit (— )
Budget financing total
Borrowing from the public
Reduction in cash balances
i -2,845 i-23, 033
i 2, 845 i 23, 033
15,397 i 19, 448
1-2,552 13,794
do
do
do
do
1382,603 1409,468
Gross amount of debt outstanding _.
do
i 284,880 1304,328
Held by the public
do
Budget receipts by source and outlays by agency:
Receipts (net) total
mil. $ 1 193,743 1 188, 392
i 90, 412 i 86, 230
Individual income taxes (net)
do
132,829 126,785
Corporation income taxes (net)
do
Social insurance taxes and contributions
(net)
mil. $ 1 45, 298 i 48, 578
125,203 126,798
Other
do
1 196,588 1 211, 425
Outlays total 9
do
i 8, 307 i 8, 560
Agriculture Department
do
i 77, 150 174,546
Defense Department military
do
Health, Education, and Welfare Department
mil. $__ i 52, 338 i 61, 866
1 19, 510 i 20, 991
Treasury Department
.
do
i 3, 749 i 3, 381
National Aeronautics and Space Adm
do
18,653 i 9, 756
Veterans Administration
do
Receipts and expenditures (national income and
product accounts basis), qtrly. totals seas. adj.
at annual rates:
199.1
191.6
Federal Government receipts, total
bil. $..
89.6
92.4
Personal tax and nontax receipts
do
33.1
30.4
Corporate profit tax accruals
do
20.5
19.3
Indirect business tax and nontax accruals .do
55.9
49.5
Contributions for social insurance
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
enterprises
bil $
do
-399
-175
—327
-243
1,513 -6,330 -4, 002
-271 -1,873 -3,525 —5 090
-1, 513
6,330
4,002
271
5,090
1,873 3,525
-2,003
1,407
8,482
2,590
1 3,795
134
-490
4,923 1,412 -8,211 1,739
3, 524
1,295
422, 163 421, 878 424, 555 434, 350 432,607 434, 344 437, 553
313, 406 314, 812 317,402 325,884 326,018 326,019 329, 814
515
-237
310
' 7, 717
7,693
'5,676
5, 613
' 2, 041 2,080
' 8, 592 ' 8, 549
22, 183
18, 213
(2)-
2,591 -3,384 -2,369
5,935 -2,685
3,712
2,685 -2,591 3,384 2,369 —3, 712
-8,935
-618 -3,368
3,730
-2, 059
934
376
2,067
777
-3,876
-346
4,088
1, 435
435,470 438,350 437,329 442, 461 446, 051 444, 580
327, 755 327, 137 323,770 327, 499 328,433 328,809
19,710
9, 192
4,306
12,462
6,282
736
14, 945
7,455
512
17,213
7,096
4,927
17,596
10,944
1,070
15, 239
6,846
666
15, 237
3,905
4,722
24,534
11,965
4,895
17, 275
6,557
733
25,537
11, 142
8,138
15, 207
7,355
1,071
18, 213
8,380
665
22,183
11,005
4,965
3,784
2,428
2,983
2,460
4,120
2,858
2,642
2,549
3,615
1,967
5,740
1,986
4,350
2,259
5,655
2,020
7,443
2,542
4,137
2,119
4,277
2,505
6,849
2,318
4,038
2,175
18, 196
680
5,764
18, 791
1,406
5,886
18, 947
1,094
5,996
17, 484
1,120
6,386
19, 469
1,040
5,967
18,764
636
6,107
20, 327
354
6,872
18, 598
97
6,507
19, 960
440
6, 871
22,945
641
8,079
18, 591
2,688
5, 193
20, 581
1,532
5,662
18, 471
403
5, 204
5,452 5,654
1,893 '1,563
273
266
755
830
5,761
1,931
286
818
5,571
1,774
285
893
5,897
1,892
259
1,020
6,013
1,856
276
861
6,179
1,900
310
1,042
5,946
'1,951
238
926
6,189
1,919
270
970
8,214
J,883
294
907
5,456
1,862
289
882
6,013
1,864
289
855
6,271
1,991
273
831
199.1
89.8
33.2
20.0
56.1
202.8
93.8
31.1
20.8
57.0
221 4
105. 8
34.0
19.9
61 7
224.9
107.3
35.2
19.7
62.6
»230 0
' 109 1
"36.9
' 20 2
' 63 8
246.5
108.1
78.6
80.4
38.1
13 8
' 241 6
'105 4
' 75 1
'82 0
'34 4
13.6
204.5
96.5
75.1
63.3
24.5
14.6
220.8
97.8
71.4
75.0
29.3
13.6
222.2
97.9
70.1
76.3
29.8
13.6
227.5
100.7
71.9
77.8
30.8
13.3
236.3
105 7
76.7
79.4
32.4
13.1
5.5
5.2
4.6
5.0
5.6
6.0
.0
.1
0
p 1
0
—21 6
z>— 11 6
Less: Wage accruals less disbursements. _ .do
Surplus or deficit (—) _.
17, 213 17, 596 15, 239 15, 237
17, 085 19, 226 18,589 20,000
128 -1,630 -3,350 -4,763
7, 179
5, 296
1, 883
8, 859
'6 2
-12.9
-21.7
-23.1
207. 25
11.07
88. 52
74.38
68.73
222. 10
11.00
99.80
75.50
69.90
217. 49
11.00
97.20
74.80
69. 21
218. 26
11.02
97.78
74.86
69.27
219. 35
11.15
98.44
74.90
71.31
222. 10
11.00
99.80
75.50
69.90
223. 31
11.32
101. 35
75.52
69.98
224.74
11.34
102.82
75.46
69.94
226. 02
11. 52
103. 80
75.42
69.90
227.89
11. 08
105. 25
75.47
69. 93
229.34
11.13
106.43
75.49
69.94
230. 18
11.10
107. 07
75.55
69.97
231. 59
11.08
108. 24
75.63
70.03
233. 34
11. 09
109. 73
75.72
70.10
234. 46
11.12
110. 30
75. 81
70.20
6.32
16. 06
1.76
9.15
6.90
17. 06
1.76
10.07
6.81
16.78
1.46
9.44
6. 88
16.85
1.45
9.42
6.95
16.95
1.53
9.43
6.90
17.06
1.76
10.07
7.10
17.07
1.51
9.44
7.00
17.13
1.47
9.51
7.05
17.21
1.35
9.68
7.03
17.36
1.50
10.20
7.09
17. 44
1.54
10.20
7.15
17.53
1.54
10.24
7.18
17. 60
1. 57
10.29
7.24
17.69
1.55
10.33
7.24
17.77
1.59
10.61
-24.7
-14.8
LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U.S. life insurance cos
Government securities
Corporate securities _
Mortgage loans, total
Nonfarm
...
Real estate
_.
Policy loans and premium notes
Cash
Other assets
bil. $._
do
..do
do _
do
do
do
..do
do
' Revised.
*> Preliminary.
i Data shown in 1970 and 1971 annual columns are for fiscal years ending June 30 of the
respective years; they.include revisions not distributed to months.
2
The loan account/expenditure account distinction has been discontinued.
1f See similar note on p. S-17.
9 Includes data for items not shown separately.
6ct.
SURVEY OF CURRENT BUSINESS
November 1972
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
1971
1971
Annual
S-19
Sept.
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
FINANCE—Continued
LIFE INSURANCE— Contimied
Institute of Life Insurance— Continued
Payments to policyholders and beneficiaries in
U S total
mil $ 16, 449. 4 17,177.2 1,466.5 1, 392. 7 1, 354. 8 1,918.9
7, 017. 3 7, 423. 3 638.1 605. 3 608.9 709.5
Death benefits
do
990.2
80.9
80.8
83.5
978.3
77.6
IVIatured endowments
do
23.6
21.2
23.0
21.3
256.8
232.9
Disabilitv payments
do
1, 757. 1 1,944.4 168.6 181.1 156.1 163.5
Annui tv payments
do
232.9
2,886.4
264.1
2,881.6
224.9
230.3
Surrender values
do
3, 577. 4 3,680.9 321.8 278.8 257.4 677.1
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance) :J
Value estimated total
mil. $_. i 193,574
123, 272
Ordinary (incl mass-marketed ord.)
do
163,690
Group
do
6, 612
Industrial
do
Premiums collected:
19,940
n H
insurance p em um _ _ _ _ _ _ _ _ _ _ _ _ _
14, 912
urainary (.inci. m^.ss mdr eieu o. u.;_. .
3,753
T A
t frtT
~"
"
An
1,275
186, 634
131,319
47, 948
7,365
15,718
10, 624
4,495
599
14, 777
10, 894
3,243
640
15, 096
11,741
2,780
575
20, 237
13, 409
6,301
527
13,858
9,894
3,366
598
14, 996
11, 334
3,020
642
19,046
13, 421
4,953
672
16, 621
11, 949
4,018
654
16,960
12,374
3,705
881
17, 981
12, 544
4,865
572
15,484
10, 886
3,958
640
16,310
11, 935
3,825
550
16, 299
11,075
4,675
549
10, 132
-889
51,249
283, 948
10, 132
2
434
22, 732
10, 132
0
97
23,083
10, 132
-1
84
23, 192
10, 132
5
1,586
16, 163
10, 132
0
522
15, 119
9,588
-544
1, 117
19, 390
9,588
38
23,831
27, 714
9,588 10,410
6 -1,227
880
1,633
26, 020 26, 573
10,410
0
2,029
25,801
10,410
0
3,436
11,953
10, 410
12
16,339
52,656
10,410 10,410
-1
4,705
31,502
1,098.7
77.3
91.3
6.1
93.4
6.3
91.7
6.6
85.7
5.9
295.3
26.5
88.2
6.4
91.8
6.6
93.2
7.5
94.4
6.8
94.3
6.2
94.4
6.4
94.1
5.9
19, 499
49, 507
1.546
1,580
4,134
1.421
237
3,219
1.336
212
4,167
1.320
1,382
3,878
1.394
864
5,304
1.473
1,499
4,696
1.504
10, 574
4,689
1.536
575
3,541
1.572
2,895
6,355
1.583
1, 204
3,414
1.569
16,527
5,955
1.736
9,040
2, 963
1. 846
744
5, 431
1.777
41, 030
2, 741
4, 067
3,499
3,287
3,257
3,976
3,308
4,448
3,032
2,841
3,527
3,244
3,597
57.1
61.1
58.8
59.2
60.6
61.1
59.4
69.8
60.4
60.5
61.7
62.2
62.4
62.7
62.6
210. 0
47.7
162.3
208.2
6.4
224.1
51.1
173. 0
253.8
6.4
226.2
51.9
174.3
260.3
7.5
227.5
52.2
175.3
264.1
5.3
229.6
52.8
176.9
265.5
3.9
235.1
53.5
181.5
269.0
6.7
235.3
52.6
182.7
273.7
7.2
229.0
52.6
176.4
277.3
7.2
231.3
53.2
178.1
280.8
7.7
236.1
53.6
182. 6
283.1
7.6
231.3
54.0
177.3
286.9
10.4
234.7
54.6
180.1
290. 0
6.8
237.9
55.3
182.6
292.7
7.2
237.2 ' 240. 0
55.3
55.4
182.0 '184.6
298.1 301.3
5.3
5.8
227.6
51.9
175.7
259. 6
227.7
52.2
175.5
263.3
227.7
52.2
175.5
265.3
228.2
52.5
175.7
269.9
228.8
52.8
176.0
274.4
231.2
53.2
178.0
278.1
233.5
53.7
179.9
279.9
235.0
54.0
180.9
282.8
235.5
54.4
181.1
287.0
236.6
54.7
181.9
290.9
239.4
54.9
184.5
293.7
240.5 ' 241. 6 z>242. 5
55.5
55.0
*55.9
185.5 ' 186. 1 *186. 6
297.1 300.5 *303. 5
82.2
190. 6
55.6
82.3
45.2
82.6
199.5
54.3
80.0
44.2
86.4
203.7
58.1
87.2
46.7
83. 7
196.1
57.3
85.2
46.4
83.9
205. 3
56.2
82.0
46.2
84.5
205.1
56.2
82.6
45.8
83.0
195.2
57.2
83.3
46.9
85.6
202. 1
58.9
87.3
47.8
85.6
200.8
58.7
89.8
46.9
84.7
199.9
58.6
88.1
47.5
82.3
194.4
57.1
84,2
46.8
'87.6
206.9
60.2
90.2
48.8
88.7
214.9
60.1
89.8
48.8
' 7, 250
5,650
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, U.S. (end of period) ...mil. $_. 10,732
-615
Net release from earmark§
do
37, 789
Exports
thous. $
237,464
Imports
do
Production:
South Africa
.
. ...mil. $_. 1, 128. 0
81.8
Canada
.._
do
United States
do
Silver:
27, 613
Exports
._
_
thous. $
64,957
Imports
do
1.771
Price at New York
dol. per fine oz
Production:
.
47,483
United States
j
do
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 deposit sadjustedl
.
__do.._.
U.S. Government demand deposits 1f— ---do
Adjusted for seasonal variation:
Total money supply
do
Currency outside banks
do
Demand deposits
do
Time deposits adjusted^
do
Turnover of demand deposits except interbank and
U.S. Govt., annual rates, seas, adjusted'4
Total (233 SM S A 's)0__ ratio of debits to deposits..
New York SMSA
do
Total 232 SMSA's (except N Y )
do
6 other leading SMSA'sd*
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)
mil. $_.
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
___do
Dividends paid (cash) , all industries
do
Electric utilities, profits after taxes (Federal Reserve)
mil $
28, 572
2,549
413
31, 038
2, 754
558
7,538
739
139
7,980
703
175
7 934
680
139
9 633
'803
161
304
719
3, 434
5,893
627
1,297
692
603
501
3,780
5, 829
853
621
748
190
141
954
1,508
283
64
22
165
76
904
1,407
212
91
171
170
168
1,062
1 287
'125
160
173
266
271
1 097
1 095
328
214
324
1,066
2,689
2, 349
1,070
2,489
2,563
312
616
633
202
705
725
312
713
564
426
921
763
593
1,424
4,522
15,070
585
3,097
4, 990
15,252
185
406
1, 347
3,481
117
887
1,442
4,084
163
1,010
1 209
3, 899
275
1 201
1 488
4 106
1. 811
1
*242. 3
^55.9
P186. 4
*304. 5
P6.6
SECURITIES ISSUED
Securities and Exchange Commission:
10,569
88,666 105, 233 r 9, 454 9,410
Estimated gross proceeds, total
mil. $
By type of security:
9,300
92, 272 '8,255
8,687
80, 037
Bonds and notes, total
do
2, 436
30,315 32, 129 ' 2, 581 2,665
Corporate
do
1,999
7,240
9,291
'•1,034
Common stock
do
637
270
165
86
1,390
3,670
Preferred stock
do___2
' Revised. *> Preliminary. 1 Includes $17 bil. S-GLI.
Beginning Jan. 1972 valued
$38 per fine ounce
§Or increase in earmarked gold (-—)'. ©Beginning Jan. 1972 SURVEY, data reflect corrections
to the latest benchmark levels available for nonmember banks and changes in seasonal factors. Revised monthly data back to 1964 will be shown later. If At all commercial banks.
6, 911
7, 188
7,302
6, 556
8,636
9,547
7,588
' 6, 921
5,710
6,354
6,261
5, 580
7,771 8,399
5,802 '5,803 ' 6, 192 4,566
2,473
2,371
2,329
2,253
2,411 2,450
2,555 '2,465 '1,955 1,666
1,032
531
694
765
846
601 1, 017
'913
'742
1, 174
303
282
169
195
612
318
131
263
206
'316
J Series revised to reflect recalculation of seasonal factors; revisions for periods prior to Feb.
1971 will be shown later 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 CUEKENT BUSINESS
S-20
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
1971
1971
Sept.
Annual
November 1972
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
FINANCE—Continued
SECURITIES ISSUED— Continued
Securities and Exchange Commission—Continued
Estimated gross proceeds— Continued
By type of issuer:
Corporate total 9
mil. $
Manufacturing
do
Extractive (mining)
_
- do _
Public utility .
do
38, 945
10,513
2,093
11, 017
45, 090 r 3, 781
11,578 ' 1,r141
87
1,283
11, 800 ' 1, 085
3,387
662
87
934
3,704
811
129
1,217
3,673
980
73
891
3,205
392
105
533
3,369
529
61
988
3,229
604
189
740
3, 275
581
62
1,219
3 598
761
106
738
4 341
767
168
1,538
185
800
529
T
3r 583
574
163
T
798
7-559
' 251
^635
2 750
616
93
1 268
' 117
237
823
57
33
233
r 3 013
r
!60
r
586
1 148
do
__do. _
do
2,260
5,136
5,517
2, 418
5,819
8,814
'150
'281
'721
190
432
848
152
269
963
232
352
845
282
752
945
146
498
1,036
105
227
1,112
131
178
752
213
391
1 021
- do
do_ __
do
49, 721
14, 831
17, 762
60, 143
17, 325
24,370
' 5, 674
1,698
2,044
6,022
2,455
1,679
6,864
3, 254
2,286
3,237
443
2,058
3, 983
529
1,737
3,933
539
1, 942
3,327
586
2,185
5,360
2,281
1,963
5,949
2,360
1 924
3,248 r 3, 338
496
536
2,222 •' 1, 784
do
do.
17, 762
17, 880
24, 370
26, 281
2,044
2,781
1,679
1,843
2,286
2,785
2,058
2,492
1,737
1,594
1,942
1,752
2,185
3,407
1,963
1,516
1,924
2 726
2, 222 ' 1, 784
2,705
1,215
i 6,535
15,700
1835
i 1,298
5,990
5,208
782
1,237
6,016
5,238
778
1,204
5,995
5,198
797
1,209
6,535
5,700
835
1,298
6,850
5,989
861
1,313
7,427
6,477
950
1, 327
7,847
6,896
951
1,294
8,250
7,283
967
1,278
8 472
7 478
994
1 296
8 860
7,792
1 068
1 253
9,042
7,945
1,097
1,334
8,601
1387
i 1, 837
364
1,734
393
1,765
412
1,758
387
1,837
448
2,040
434
2,108
442
2,070
433
2,030
403
1 930
386
1 845
403
1,842
384
1 733
61.5
72.3
65.0
80.0
64.2
81.7
65.2
84.7
66.4
84.1
66.5
83.5
67.1
84.6
66.7
83.8
66. 2
84.1
65.1
82.5
65 2
84.6
65 6
83.4
65.6
83.1
65. 8
84.2
65 6
83.4
65 5
85.2
60.52
67.70
69. 35
70.33
70. 47
68.80
68.79
68.32
68.43
67. 66
68.59
69.05
69.23
69.55
68.06
68.09
Sales:
Total, excl. U.S. Government bonds (SEC):
All registered exchanges:
Market value
_„
mil. $ _ 4, 763. 24 8,803.91 758. 11
6, 299. 55 10,157.90 861. 07
Face value
_ _
__do
773. 19
851. 32
743. 05
815. 80
872. 36 963. 66 862. 43 975. 83
979. 30 1,011.89 903. 78 1,013.72
837. 59
859. 85
775 98
807. 23
801 19
840 79
632.67
679. 82
723 49
776. 15
370. 69
Transportation §
Communication
_
Financial and real estate
Noncorporate, total 9 U.S. Government
State and municipal
- -
State and municipal issues (Bond Buyer) :
Long-term
_
._
Short-term
T
T
T
r
T
r
r
4, 237
606
1,898
2 900
474
1 701
1, 898 '• 1, 701
1, 840 r 2 475
1,922
1,581
SECURITY MARKETS
Stock Market Customer Financing*
Margin credit at brokers and banks, end of month,
total
mil. $
At brokers
-do ___
At banks
do
Other security credit at banks
do
Free credit balances at brokers:
M^argin accounts
do
Cash accounts
do
Bonds
Prices:
Standard & Poor's Corporation:
High grade corporate:
Compositecf
dol. per $100 bond__
Domestic municipal (15 bonds)
do_
U.S. Treasury bonds, taxablef
New York Stock Exchange:
Market value
Face value.
_ _ _•__
-.do
d o _ _ _ _ 4, 328. 33
do_ __ 5, 554. 92
8,009.57 694. 85
9,080.68 769. 97
704. 31
766. 77
683J 91
745. 08
803. 14
890. 20
866.66
896. 11
770. 82
804. 49
870. 04
895.25
763. 19
778. 24
717 15
741 02
740 74
776 82
581. 21
625. 30
669. 41
712 97
New York Stock Exchange, exclusive of some
stopped sales, face value, total
__.mil. $__ 4,494.86
6,563.82 478. 40
530. 42
497. 11
639.34
596.42
521.85
569. 24
515. 14
458.20
443. 07
362. 57
415.73
309. 72
Yields:
Domestic corporate (Moody's)
By rating:
Aaa
Aa
A
Baa
percent
8.51
7.94
7.97
7.88
7.77
7.75
7.66
7.68
7. 66
7 71
7 71
7 66
7 66
7 6i
7 59
7 59
do
_ do
do
do
8.04
8.31
8.56
9.10
7.39
7.78
8 03
8.56
7.44
7.81
8.04
8.59
7.39
7.69
7.97
8.48
7.26
7.56
7.88
8.38
7.25
7.57
7.81
8.38
7.19
7.52
7 70
8.23
7.27
7.52
7.70
8.23
7.24
7.53
7.66
8.24
7
7
7
8
7
7
7
8
7
7
7
8
7
7
7
8
7
7
7
8
7
7
7
8
7 01
do
do
do
8.26
8.67
9.04
7.57
8.13
8.38
7.64
8.12
8.39
7.58
8.04
8.25
7.46
7.96
8. 13
7.42
7.92
8.12
7.34
7.85
7.98
7.39
7.84
8.00
7.35
7.81
8.03
7 42
7 87
8 04
7 43
7 88
8 01
7 36
7 83
7 98
7 39
7 80
8 00
7 35
7 69
7 99
7 36
7 63
7 97
7 36
7 fi°,
7 97
Domestic municipal:
Bond Buyer (20 bonds)
do
Standard & Poor's Corp. (15 bonds)______do____
6.34
6.50
5.46
5.70
5.24
5.52
5.11
5.24
5.44
5.30
5.02
5.36
5.35
5.25
5.29
5.33
5.40
5.30
5 20
5.45
5 15
5. 26
5 43
5.37
5 32
5.39
5 38
5.29
5 30
5.36
5 04
5.20
U.S. Treasury bonds, taxable©
6.59
5.82
5.56
5.46
5.44
5.62
5.62
5.67
5.66
5 74
5 64
5 59
5 57
5 54
5 70
5 69
8.99
9.76
4.69
3.92
6.77
10.44
8.81
9.50
4.77
3.78
7.28
10.62
8.76
9.43
4.78
3.84
7.28
10. 70
8.75
9.41
4.78
3.84
7.28
10.70
8.73
9.39
4.79
3.49
7.28
10.70
8.73
9.39
4.81
3.51
7.31
10.77
8.75
9.42
4.83
3.51
7.31
10.79
8.78
9. 45
4.83
3.58
7.31
10.91
8.79
9.45
4.86
3.58
7.31
10.91
8.80
9 49
4 86
3 58
8. 88
9 58
4 86
3 81
8.87
9
8.97
9 fin
4 OQ
3 78
7 01
11.02
' 8. 97
9 fin
11.02
11.02
226. 70
270. 83
79.06
65.61
261.43
318. 75
84.16
85.12
261. 31
320.26
78.81
93.32
251. 49
306. 25
82.41
86.56
251. 26
306. 87
79.80
82.15
271.78
333. 51
85.56
92. 07
276. 91
341. 04
84.18
95.27
281. 04
348. 64
81.48
94.21
285. 67
354. 30
80.77
95.75
295. 79
294. 25
295. 56
3.97
3.60
5.94
5.97
4.03
4.02
3.37
2.98
5.67
4.44
4.14
3.25
3.35
2.94
6.07
4.11
4.31
3.11
3.48
3.07
5.80
4.44
4.19
3.31
3.47
3.06
6.00
4.25
3.97
3.33
3.21
2.82
5.62
3.81
3.84
3.27
3.12
3.16
2.71
2.76
5.74 /-S.93
3.80
3.68
3.91
3.88
3. 24
3.28
3. 08
2.67
6.02
3.74
3.58
3.14
By group :
Industrials
Public utilities
Railroads
do
30
57
74
24
30
56
75
23
23
51
69
20
21
50
71
23
19
43
64
19
22
41
64
09
7 45
7 64
8 06
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. __
Yields, composite
Industrials
Pub lie utilities
Railroads..
N.Y. banks
Property and casualty insurance cos
do
do
do
do
percent..
do
do
do
do
do. _ _
Earnings per share (indust., qtrly. at ann. rate;
pub. util. and RR., for 12 mo. ending each qtr.):
Industrials
dollars
15 30 ' 17. 58 15.05
7.10
7.01
Public utilities
do
6. 89
4.32
Railroads
do_ _
3.93
3.53
r
l
Revised.
» Preliminary.
End of year.
*New series; more detailed information
appears in the February 1972 Federal Reserve Bulletin.
9 Includes data not shown separately.
§ Beginning April 1971 STJEVEY, data restated to include "other transportation" in addition to railroad data formerly shown.
1
8.87
CO
A Q(\
9
KQ
10. 99
11.02
.11. 02
4 86
3 78
7 01
11.02
286. 59
356 26
77 94
289. 90
283.32
285. 55
7 ^1
7 qi
op.i 77
77 1 9.
3 78
7 9.1
•3KA Qfi
75 27
Q4. 88
3.07
2 gg
94.
o 77
3.06
2
fie
6
3
2 QQ
2
00
01
75 11
3. 13
3.11
R 4.fi
on
6
4
3
9 70
4
A<3
OK7
3 00
ocn crv
7C
OK ;
A
on
3 70
7 °.1
ooo 9,4
78 4.8
8.98
9 fi9
4 on
7Q
7 P.1
3
oce 00
oq o«
on i R
3.03
2 60
9 R8
4.7
qe
98
6
4
3 13
9 QO
3. 05
T 9 fi9
3.04
O AQ
94.
5
87
1Q
4
CO
9 Q4.
2 70
p 17 45
19.86
20 97
18.57
'
•
7.14
721
7 46
3.93
4.44
4.78
c? Number of bonds represented fluctuates; the change in the number does not affect the
continuity of the series.
UPrices are derived from average yields on basis of an assumed 3 percent 20-year bond.
O For bonds due or callable in 10 years or more.
SUEVEY OF CUEKENT BUSINESS
November 1972
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
1971
Annual
S-21
1971
Sept.
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
6.99
6.90
7. 00
7.03
315. 22
958. 34
109.07
233. 53
310. 15
950.58
109. 76
222. 86
321. 92
944. 10
113. 06
215. 88
Sept.
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) _ _
_'__ _
7. 22
6.75
6.90
6.75
6.78
6.81
6.57
6.67
6.76
6.91
243. 92
753. 19
108. 75
152. 36
298. 12
884. 76
117. 22
217. 20
308.42
901. 22
111.20
241.35
302. 19
872. 15
113. 76
236. 52
285. 91
822. 11
111.03
221.48
301.72
869.90
112.43
237. 81
315. 61
904.65
118. 84
249. 85
317.15
914. 37
113,41
255. 10
323. 84
939. 23
114. 34
259.48
329. 83
958. 16
110. 56
270. 08
322. 26 . 315. 09
948. 22 943. 43
108. 80 106.27
257. 34 243.84
306. 91
925.92
107.09
229. 95
6.90
6. 93
Standard & Poor's Corporation: d"
Industrial, public utility, and railroad:
Combined index (500 stocks) ... .1941-43=10.-
83.22
98.29
99.40
97.29
92.78
99. 17
103.30
105.24
107.69
108. 81
107. 65
108. 01
107. 21
111. 01
109.39
109. 56
Industrial, total (425 stocks) 9 ... do
Capital goods (116 stocks)
do
Consumers' goods (184 stocks)
do
Public utility (55 stocks)
do
Railroad (20 stocks)
_.
...do ...
91.29
87.87
80.22
54.48
32.13
108. 35
102. 80
99.78
59.33
41. 94
109. 85
104. 55
103. 34
56.48
47.18
107. 28
100. 66
101. 31
57.41
44. 58
102. 21
95.51
97.47
55.86
41.19
109. 67
103.78
103. 92
57. 07
43.17
114.12
109.69
106.45
60.19
45.16
116.86
113. 90
109. 42
57.41
45.66
119. 73
116.89
113. 20
57.73
46.48
121. 34
120. 19
115. 05
55.70
47.38
120. 16
119. 65
112. 67
54.94
45.06
120.84
120. 92
113.43
53.73
43.66
119. 98
119.13
112. 57
53.47
42.00
124. 35
124.47
116. 17
54.66
43.28
122.33
121. 63
113. 19
55.36
42.37
122.39
119. 50
112. 94
56.66
41.20
43. 83
77. 06
46.31
87.06
45.10
85.09
45.91
84.98
46.42
83.55
49.79
88.74
49.70
90.16
49.28
90.19
52.16
94.79
55.76
103. 47
55.57
101. 57
55.27
103.63
57.35
106. 94
61.28
112. 21
62.11
116. 62
63.99
118. 20
78.34
115. 04
127.11
120. 71
115.65
119.58
119. 26
122. 20
128. 19
133. 66
139.43
132. 63
127. 13
131.71
129. 86
133. 04
45.72
48.03
32.14
37.24
60.00
54.22
57.92
44.35
39.44
'70.38
54.95
59.13
48.09
37.53
72.14
53.76
57.52
47.02
37.93
71.24
51.17
54.50
44.29
36.87
68.98
54.76
58.85
48.34
37.52
72.28
57.19
61.33
50.56
40. 02
74.24
58. 45
63.36
52.80
38.56
73.74
59.96
65.18
53.71
38. 56
77.15
60.65
66.10
55 50
37 48
80.36
59. 82
65.30
53 43
37 04
78.32
59.87
65.76
51 26
36.32
76.59
59. 21
65.13
48 45
36 02
75.41
61. 07
67.25
48. 97
36.87
78.27
60.05
65.72
46.49
37.82
78.41
59.99
65.35
44.95
38.93
79.64
185, 027
5,916
12, 833
12, 994
12, 304
17, 648
574
16,872
547
18, 549
21, 408
609
661
18 448
17 093
16 742
13 925
506
427
17 593
507
147, 098
4,265
10, 165
12, 971
14, 278
376
423
16, 439
460
14,122
413
13, 124
10, 831
13, 828
357
12,989
360
Banks:
New York City (9 stocks)....
Outside New York City (16 stocks)
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
Sales:
Total on all registered exchanges (SEC):
131, 126
Market value
mil $
4,539
Shares sold
millions
On New York Stock Exchange:
Market value
mil. $_. 103, 063
3,213
Shares sold (cleared or settled)
millions
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
2,937
(sales effected) .
millions .
Shares listed, N.Y. Stock Exchange, end of period:
Market value, all listed shares
bil. $
Number of shares li sted _ _
. _ _ millions _
612. 49
15, 522
393
403
405
584
538
286
10,214
289
9,757
295
13, 997
3,891
253
280
276
378
380
376
404
368
336
315
289
357
246
317
741. 83
17, 500
709.00
17, 032
681. 17
17, 170
679.42
17, 320
741. 83
17, 500
761.35
17, 589
782. 94
17, 692
790. 22
17, 777
791 04
17, 916
810 43
18, 113
793 22
18 432
791 10
18 607
821 15
18 773
816. 22
18, 875
824. 96
19, 002
416
307
378
FOREIGN TRADE OF THE UNITED STATES
FOREIGN TRADE
Value of Exports
Exports (mdse.), incl. reexports, total..
Excl. Dept. of Defense shipments..
Seasonally adjusted
By geographic regions:
Africa
Asia
_
Australia and Oceania . _ _
Europe..... _
mil. $__ 43, 224. 0 44, 129. 9 4, 259. 5 2, 891. 1 3,264.5 4, 088. 4 3, 872. 6 3, 818. 4" 4 349. 2 3, 936. 7 4, 195. 5 4 050 9 3, 726. 4 3 991.4 4, 008. 1
-do
do
do
do
_ _do_ _
_do___
Northern North America
Southern North America
South America
_ _
_ _
By leading countries:
Africa:
Egypt
Republic of South Africa
do
do
do___
42, 659. 3 43, 548. 6 4,219.8 2, 825. 7 3, 221. 3 4, 055. 9 3, 814. 8 3, 780. 0 4 309 7 3, 886. 6 4 142 8 4 014 9 3 660 3 3 945 8 3, 965. 0
4,505.0 2 707.9 3 160 3 3 858 0 4 220 8 3 805 6 3 890 7 3 760 3 3 913 5 0 Qf)A 7 4 019 2 4 201 7 4 157 5
1, 579. 1
10,022.8
1,188.2
14,816.8
173.2
1, 694. 1
981.5
9, 849. 5
104.9
1, 168. 8
14, 574. 1 1, 421. 1
53.3
616.7
100.1
820. r
106.7
183 0
113 2
148 7
131 3
136 6
114 6
109 9
138 9
737. 1 912.4
871 5
809 8 1 068 8
876 0
878 5
900 4
931 7
73.7
72 4
117.7
81.6
85.7
91.0
95 0
84 9
70 7
988.8 1, 404. 2 1, 304. 2 1, 289. 6 1 436 5 1, 248. 5 1 388 4 1 182 8 1 187 4 1
908.0
310. 0
366.1
917.6
223. 6
161.2
931.9
230.8
194. 9
876 6
287.4
307.5
859 5
262.0
309 1
9, 080. 3 10 367. 7
3, 241. 3 3,154.2
3,290.0 3,328.2
5.7
925 2 1 024 3 1 071 0 1 120 11 114 6
2745
275.0
296.1
290 5
283 6
297 0
291 9
267 3
309 1
328 7
111 5
134 1
855 2
893 3
83.9
104 3
246 5 1, 282. 7
875 5 1 008 9 1 062 9
304. 0
279.4
298.1
•?Qg 3
310 8
308 1
65.2
2.0
4.0
17.8
52.1
8 2
88.8
5 2
67.4
5 9
38.3
9 1
48 4
86
40.7
35
36.4
7 7
46*4
50
37 5
12 1
64 0
4 4
48 6
1,018.8
648.2
211.6
73.8
91.7
63.7
29.4
90.4
38.7
14.4
62.3
44. 0
100.0
51.8
4.7
4.0
5.5
5.8
8.4
69.2
41 8
14 9
T. 6
74.2
29 2
15 7
80
45
19
9
2
9
9
5
72.0
18 3
25 4
11 4
59.5
21 7
13 3
9 2
58
49
17
7
70
28
14
5
90
20
15
16
69
20
8
21
266.0
373.2
4,651.9
263.0
340.2
4,054.7
34.4
34.6
371.2
10.8
16.4
291.6
17.8
21.5
329.0
24.2
35.6
403.9
27.7
29.7
370.9
25.4
25.1
321.7
18 1
34 8
512 6
35 0
28 4
372.8
26 9
30 6
375.0
1,483.0
32.5
2, 740. 7
1,380.2
25 ,4
2,832.0
132.7
1.8
259.9
80.3
82.8
2.6
203.2
125.3
144. 1
17
233.2
172 4
57
251 7
129.4
117 0
113 5
108 8
117 6
261.4
121.9
15
229. 3
123 5
164.0
234 7
237 3
219 6
219 9
199 0
206 9
1, 353. 0
Italy
do
118.7
Union of Soviet Socialist Republics
do
2,
536. 3
United Kingdom. . .
...
_ _ _ _do_ ._
1,314.0
160.6
2,374.0
120.8
14.9
240.4
133.2
90.5
13.7
153.9
142.6
26.6
255. 7
110.8
.21.6
253. 8
114 4
29.6
182.8
144 8
35.1
277 0
110 7
30.2
201 8
163 6
29.1
197 5
115 3
21.0
200 2
103 2
19.3
192 8
93 3
75.1
184 9
105 2
67.8
236 2
77. 2
562.7
62.9
622.4
1, 003. 5
572.5
325.4
66.6
do .
_.- _ do
do
do
do
do _
do
do
Asia; Australia and Oceania:
Australia, including New Guinea _ _ _ _ _ _ do
India
_
do_
Pakistan
do
Malaysia
_
_
.
do
Indonesia
Philippines
Japan
Europe:
France.- _ _ _ _ _
East Germany
West Germany
--
_
8.9
.7
65.7
9.3
North and South America:
908.0
9,079.3 10,365.7
931.9
917.6
Canada
do
r Revised.
tf Number of stocks represents number currently used; the change in number does not
7.1
876.6
5.5
4
3
4
2
1
0
29 8
31 0
387 7
5
859.5
925.2 1, 024. 2 1, 070. 9 1,119.9 1. 114. 6
affect continuity of the series.
9 Includes data not shown separately.
0
2
3
8
22 3
34 4
376 5
5
3
8
1
9
11 3
27 8
405 3
g
2
9
2
0
21 5
32 8
378 5
2
873.8 1. 008. 2 1. 062. 8
S-22
SUEVEY OF CUKEENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
| 1971
Annual
November 1972
1971
Sept.
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
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 —.mil. $__ 5,696;2
441.0
Argentina
do_ __
840.5
Brazil __
__ _
^
do
300.3
Chile
do
394.8
Colombia
do
Mexico
- __do— __ 1,703.7
759.3
Venezuela
_ __
__do____
Exports of U.S. merchandise, total
Excluding military grant-aid.
Agricultural products , total
Nonagricultural products, total
_
-
do
do
dol
__do
By commodity groups and principal commodities:
Food and live animals 9
mil $
Meats and preparations (incl poultry) do
G rains and cereal preparations
do
Beverages and tobacco
do
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
584.2
47.1
107.5
24.5
37.5
134.8
82.3
329.6
13.5
48.8
10.0
18.4
131.3
39.8
372.8
17.0
60.8
14.0
30.2
136.1
43.1
520.9
43.9
87.5
20.5
29.5
150.8
69.3
504,3
41.8
88.0
17.8
29.6
133. 2
74.4
502.6
34.1
96.9
18.2
28.9
140.5
69.9
515.1
26.4
95.7
16.6
25.0
158.8
73.4
478.3
23.1
90.5
12.8
23.2
153.7
70.3
534.3
34.5
102.7
25.6
24.5
159.7
72.3
552.4
24.9
108.0
15.4
29.9
158.9
94.4
526.0
38.8
112.4
14.8
22.9
153.9
73.0
541.2
34.9
106.9
15.0
23. 3
171.4
73.0
550. 4
43.1
100.4
12.1
23.9
171.2
78.1
42,590.1 43,491.8 4,205.3 2,838.9 3,220.1 4,031.5 3,823.8 3,761.1 4, 289. 5 3, 861. 5 4,127.1 3,978.2 3, 667. 9 3, 920. 0 3,938.1
42,025.4 42,910.5 4,165.6 2,773.5 3,177.0 3,999.1 3, 765. 9 3, 722. 7 4, 250. 0 3, 811. 5 4,074.4 3,942.2 3,601.8 3, 874. 4 3,894.9
7,246.8 7, 694. 9
629.2
749.8
842.4
466.3
684.0
709.9
668. 6
628.2
711.9
770.1
715.2
743.3 681.8
35,343.3 35,802.3 3,459.6 2,374.7 2, 590. 3 3,189.7 3,053.7 3, 045. 9 3, 620. 9 3,233.3 3,415.3 3,234.8 2,986.1 3,236,0 3, 228. 1
4,356.3
174.7
2,596.0
4,366.6
192.0
2,447.4
445.1
17.4
277.6
701. 7
284.0
14.6
137. 5
383.2
17.3
189.6
460.2
23.2
224.4
379.4
14.9
215.8
373.0
14.5
229.2
376.4
17.7
198.8
361.7
18.8
214.4
449.0
27.6
265.2
473.9
23.7
295.8
436.5
19.5
272.8
474.9
18.7
318.4
517.3
19.6
333.6
709.1
122.7
10.1
12.0
75.8
126.2
112.0
49.5
34.3
59.0
54.1
59.7
66.2
76.3
4,604.8 '4,328.6
372.1
583.5
1,215.9 1, 324. 8
939.5
485.9
369.2
47.8
93.7
53.2
266.6
29.7
90.9
24.3
371.7
42.0
146.4
21.9
463.2
65.4
158.4
37.5
397.7
53.9
134.9
25.4
378.2
65.2
110.4
30.7
436.2
72.1
102.9
41.9
399.1
45.8
125.9
30.8
386. 8
27. 7
109. 7
41.9
371.2
24.6
106.1
42.2
361.9
17.7
91.5
45.6
352.8
10.1
84.5
49.3
311. 5
13.8
53.0
43. 1
1,497.5
950.7
478.9
615.2
3,835.8
4, 413. 4
632.1
791.1
595.6
158. 2
106.7
45. 4
58.1
424.8
436.8
67.9
70.7
51.7
87.1
53.3
29.4
40.5
204.4
253.0
33.0
39.3
24.3
62. 1
19.8
35.8
37.0
223.5
315.2
44.8
65.5
36.1
122.1
76.4
36.4
59.0
309.1
409.3
66.8
83.5
56.0
116.6
71.6
38.5
52.4
337.8
357.4
58.8
62.9
42.9
109.1
70.5
31.4
39.7
351.8
391.9
59.8
65.4
53.2
136.5
87.4
42.8
38.2
342.3
434.8
63.8
74.7
55.6
131.6
88.8
35.1
35.8
294.1
387.5
61.2
61.4
51.0
135.8
96.4
35.6
42.0
343.5
413.8
64.0
69.3
47.5
123.5
84.9
35.9
62.1
334.8
404.4
63.5
70.8
44.3
103.2
62.5
36.1
44.5
333. 1
374.1
54.6
64.2
37.9
157. 1
113. 9
38.2
37.1
349.4
420.3
66.2
73.8
38.6
130.3
89.1
35.6
36.3
336.3
405.8
64.9
75.0
44.6
1,594.7
Mineral fuels lubricants etc 9
do
1, 044. 1
Coal and related products
do
487.9
Petroleum and products
____do
493.0
Animal and vegetable oils fats, waxes
do
3,825.6
Chemicals
_ _ _ _ do_
5,065.2
Manufactured goods9
do
603.1
Textiles
do
Iron and steel
do - 1,268.8
892. 5
Nonferrous base metals
do
Machinery and transport
5,667.0
391.0
966.3
223.7
378.0
1, 622. 1
787.1
equipment, total
mil. $— 17,881.9 19,459.8 1, 814. 2 1,382.9
11,379.3 11, 596. 0 1, 100. 6
822.6
Machinery total 9
do
626.4
596.7
59.1
43.3
Agricultural
do
395.7
404.5
36.7
21.5
Metalworking
do
140.0
94.5
Construction, excav. and mlntng— ___do.___ 1,422.3 r 1, 404. 2
2,999.2 3, 066. 7
291.7
Electrical
do
234.6
6,502.6 7,899.0
714.0
Transport eouipment total
do
561.3
3,550.0 4, 151. 1 416.3
Motor vehicles and parts
do
288.3
2,570.7 2,734.1
258. 0
Miscellaneous manufactured articles
do
185.4
1,496.3 1,531.3
118.3
Commodities not classified
do
124.7
Value of Imports
39,951.6 45,562.7 4,245.9 3,463.3
General Imports total
do
4,237.4 3,522.8
By geographic regions:
134.7
1,112.9 1,236.8
78.6
Africa..do
946.7
Asia
do— — 9,621.2 11,782.5 1, 104. 0
895.0
120.4
62.3
870.6
Australia and Oceania
do
11,394.6 12,845.6 1, 216. 8
920.9
Europe
do
11,094.8 12,765.6 1, 116. 4 1, 094. 9
Northern North America—
-do
222.9
187.4
2,850.1 3, 001. 4
Southern North America - - do
335.5
2,983.1 3,033.9
178.3
South America
do
B y leading countries :
Africa:
19.1
4.3
22.9
1.2
Egypt
do
286.5
30.4
290.2
23.2
Republic of South Africa
do
Asia; Australia and Oceania:
636.2
89.0
48.8
622.6
329.2
15.3
41.9
298.1
India
do
77.1
3.1
8.8
80.2
Pakistan
do
269.1
17.5
24.3
270.2
Malaysia
do
207.2
12.9
182.4
20.7
Indonesia
do
495.8
38.3
47.2
471.7
Philippines
do
5,875.4 7,260.9
649.4 604.5
Japan
- _
do
1,496.9 1, 760. 3 1, 664. 9 1,637.4 2,057.6 1,801.0 1,895.2 1,757.4 1,574.5 1,680.7 1,739.7
893.4 1,083.6 1, 047. 6 1, 026. 7 1, 190. 3 1,086.3 1,119.3 1, 101. 3 1,031.3 1, 063. 2 1, 064. 6
69.6
63.1
56.7
58.8
71.9
71.0
48.7
40.7
64.2
63.1
44.3
31.2
31.7
32.4
30.4
38.6
38.4
35.2
39.0
27.7
33.8
47.1
139.8
137.4
130.2
119.3
139.5
145.4
122.0
101.3
142.
7
121.5
121.8
303.5
283. 7
309.6
296. 4
305.6
296. 3
323. 2
240.3
276.4
291.9
300.5
656.1 543.2
675. 1
617.5
775.8
605.2
867. 3
617.3 610.8
714.7
677.0
398.9
283.4
433.2
357.4
438.7
351.6
368.5 418. 5
415. 5
337.1 341.5
265.4
261.3
263.3
264.7
264.2
284.0
211. 4
240.6
250. 6
271.3
258.8
131.4
121. 3
119.2
116.8
137.9
133. 9
150.8
107.1
117. 4
145.1
113.8
3,522.0 4,278.7 4,279.9 4, 177. 3 4, 844. 2 4, 247. 9 4, 722. 2 4,766.5 4,313.7 4, 727. 3 4,484.8
3,378.7 4,128.4 4, 539. 6 4,403.2 4, 475. 0 4, 459. 7 4,465.9 4,495.0 4,561.4 4, 664. 3 4, 670. 7
134.6
126.8
124.5
139.1
137.8
81.0
126.4
104.1
119.4
111.3
139.9
1, 060. 9 1,327.0 1,126.7
999.3 1,332.1 1, 108. 0 1,251.3 1, 240. 3 1,174.8 1, 488. 6 1,339.8
87.2
96.6
128.0
127.8
94.9
45.3
73.3
66.0
68.4
95.3
98.7
788.7 1,032.3 1,244.2 1, 240. 6 1,427.6 1, 159. 7 1,330.8 1, 345. 9 1,314:4 1, 341. 6 1, 122. 0
1, 139. 4 1, 130. 4 1,106.6 1, 144. 0 1,288.6 1,234.3 1,339.5 1,373.3 1, 063. 6 1,027.3 1, 206. 1
258. 3
287.5
248.7
308.7
315.1
245.3
290.1 317.5
296.1
310.6
281.4
277.1
292.3
312.5
292.0
246.0
169.1 269.4
275.8
330.8
312.0
223.4
.9
17.3
1.5
30.4
1.5
17.4
1.3
23.1
.6
34.4
1.8
21.1
.4
33.3
2.5
22.1
1.2
36.4
1.9
26. 4
1.3
26.7
34.5
17.4
3.7
22.3
14.2
39.8
706.5
72.9
36.2
9.3
26.8
18.4
64.4
811.0
49,6
42.1
5.6
27.8
23.7
22.8
664.5
46.8
34.5
5.8
29.0
19.6
30.0
580.7
48.7
38.2
1.5
26.0
17.1
49.1
847.1
72.7
30.4
3.5
20. 6
23.2
28.9
691.7
62.1
42.5
4.0
30.7
21.7
32.2
769.3
68.4
42.8
3.3
23.3
20. 1
50.8
707. 2
57.5
38.2
1.9
24.1
18.2
33.8
680.1
92.0
37.3
5.1
21.5
26.1
50.8
911.1
91.3
30.2
2.2
17.6
29.5
52. 7
805.5
Europe:
138.0
108.7
115.8
98.2
94.3
98.7
71.0
132.5
112.9
65.7
102.1 103.5
942.3 1,087.8
75.8
France
do
1.0
10.1
.7
1.0
.4
.6
1.1
.9
.9
.5
.6
.6
9.4
1.6
1.1
East Germany
do
349.2 373.2
356.8
222.3
336.3 385.7
317.7
395. 7
380.6
282.0
264.2
3,127.0 3,650.8
325.2
299.7
West Germany
do
89.2
142.3
142.9
164.3
139.0
134.6
120.9
132.3 143.6
173.1
1,316.0 1,406.0
155.2
93.5
120.5
Italy
do
56.8
2.3
5.8
7.3
4.6
5.3
1.9
7.9
7.4
9.7
14.0
72.2
4.8
3.0
3.8
Union of Soviet Socialist Republics
do
214.2
232. 1 263.7
150.9
246.9
295.6
208.2
245.6
197.1
2,193.6 2,459.1 235.4
193.5
226.9
United Kingdom
. _ _ _ do
182.8
North and South America:
11,092.0 12,761.7 1,115.1 1,094.9 .1, 139. 1 1,129.9 1,105.8 1, 143. 4 1,288.1 1, 234. 2 1,339.2 1, 373. 2 1,062.9 1, 025. 8 1, 205. 6
Canada
do
315.2
283.8
518. 6
512.9 486. 9
4,778.9 4,882.3 461.8
453.8
421. 2
476.3 447.4
456.1
473.6
482.9
Latin American Republics total 9
do
22.5
16.8
12.5
8.9
175.9
19.1
16.7
15.3
17.7
15.0
17.5
16.1
16. 8
171.8
14.8
Argentina
do
103.1
32.3
26.7
100.1
98.1
50.5
761.8
62.7
74.7
86.2
669.5
48.3
108. 2
64.3
76.5
Brazil
do_ __
14.7
.7
.6
4.5
90.9
2
7
6.4
157.0
12.6
10.7
4.1
10.1
6.3
3.3
5.7
Chile
_
do__—
26.7
9.0
10.7
30.4
239.4
31.6
17.9
231 1
268.8
14. 5
21.0
24.5
19.2
30.7
17.0
Colombia
do
88,2
116.3
84.9
122.4
1,262.5
120.2
155.0
1,218.5
145.6
125.0
114.
6
144.7
155.1
121.3
126.
6
IVTexico
do_ _95.5
102.5
85.8
119.6
97.2
109.2
1,082.0 1,215.8
127.8
95.2
99.1 104. 1 108.6
87.0
113.9
Venezuela
do
By commodity groups and principal commodities:
291. 0
286. 0
550.9
585.8
590.5
5, 767. 4 5,768.1 625.0
507.9
487.7
526.7
545. 4
534. 9
471.3
556.1
Agricultural products, total
do
34,184.2 39,834.0 3,628.7 3,185.6 3,239.6 3,731.8 3,694.1 3,586.8 4,336.2 3,760.2 4, 187. 3 4,239.8 3,842.4 4, 171. 2 3, 939. 4
Nonagricultural products total
-do
r
Revised.
9 Includes data not shown separatel y.
Oct.
S-23
SURVEY OF CUERENT BUSINESS
November 1972
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
Id70
1972
1971
1971
Annual
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
Aug.
July
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:
Food and live animals °
mil. $ _
Cocoa or cacao beans
do_
Coffee
do
Meats and preparations ..
do _
Sugar
do
Beverages and tobacco
do
Crude materials, inedible, exc. fuels 9
do
Metal ores
- do__ _
Paper base stocks
do.
Textile
fibers
do
Rubber
do
Mineral fuels , lubricants ,etc
Petroleum and products
5, 374. 7
200.7
1, 159. 5
1, 014. 4
725.3
855.0
3,307.2
1,148.9
501.9
201.7
236.5
5, 528. 8
181.3
1,167.8
1, 050. 4
763.6
875.5
3,382.0
1, 043. 6
502.3
158.4
216.0
609 7
12.9
142. 7
128.9
98.8
104.4
308.1
81.2
40.0
16.2
19.2
290 2
65
31.7
61.8
46.2
61.4
247.2
74.9
37. 8
15.6
3,074.7
-do
do____ 2,764.3
3, 714. 8
3,323.3
333.1
303.0
309.8
276.4
7.6
547 1
18 3
134 8
97.0
75 1
83 5
288.9
70 3
41.9
13.4
18 3
540 8
18.7
114.5
81.9
67.5
84.8
276.4
57.2
42. 7
19.6
17 0
472.9
13.4
60.6
83. 1
62.6
80.9
313.5
76.2
46.7
12.6
20.7
475 3
14 3
61 1
92 1
69 7
68 3
291.7
70 9
42 2
17 2
15 5
516 1
12.8
95.5
94.6
48 4
88.0
341.8
100 4
38.3
17.8
15 9
525.5
13.3
78.8
89.8
102 4
88 6
324. 1
95.6
42.8
16.8
11 5
484 3
9 9
79 2
101 8
65 9
63 6
316 8
86 7
36 9
16 9
12 7
576. 2
13.7
542 6
25.4
92.9
110.3
71.2
63 3
294.7
80.5
42.6
15.4
19.6
111. 7
128.4
91.0
55.7
316.9
90.3
41.4
19. 6
16.4
555 1
40
130 1
125 4
64 4
72 4
334 9
85 6
43 4
14 6
14 3
331. 7
307.8
400. 9
354.7
398.4
352.5
375. 4
331.9
427.4
388.5
354 9
299 7
375.3
334.6
375.1
336.1
378 4
341 4
400.2
365.8
409 3
366 7
302 8
58
44.6
61.9
41 3
50 5
254.3
83.7
42.5
3.9
7.6
159.6
171.6
17.6
13.5
12.1
14.8
14.8
21.1
15.4
12 3
14.3
15 5
16 3
do_
1,450.2
1,612.3
165.9
114.5
90.1
116.2
159.4
150.8
192.0
187 5
169 2
175 6
1/1.4. o
168 0
do
do
__do_
do
do
8,438.3
2,030.2
929.6
1,655.6
1,135.3
9, 545. 8
2, 725. 4
988.5
1, 552. 7
1, 392. 0
896.4
259.3
88.2
, 149. 4
134.0
701.5
219.6
83.1
95.5
82.2
716.3
220.0
92.1
101.4
82.7
865.0
202.9
94.8
150.6
151.4
872 3
175 0
81.9
150,8
148 1
800.6
184.0
77.7
142. 2
120 4
930.0
182.9
83.7
177.1
134.7
804 9
155 8
89 7
138 8
115 0
993 7 1 017 7
266 5 '263 4
92 2
91 8
168.6
200 6
126 7
127 0
QAft
994 1
291 9
83 3
141.3
140 2
do
do
do
do
11,171.7
5, 288. 7
163.7
2, 271. 2
13,873.2
5, 967. 8
106.8
2, 556. 6
1,213.8
523.8
8.6
222.6
1,149.0
495.1
9.4
236.0
do
do
5, 883. 0
5, 067. 6
7, 936. 0
6, 846. 5
696. 0
600.6
662.2
580.2
715. 1
620.9
753.7
650. 9
694.2
588.0
765.8
651.3
923.1
758. 7
813 4
676 3
919 9
778. 4
858 9
705 0
do
4, 846. 3
5,372.9
484.2
449.2
436.7
538.9
519.1
477.5
610.4
496 1
524 8
580 9
1, 273. 8 1,475.6
C ommodities not classified
.do
Indexes
Exports (U.S. mdse., excl. military grant-aid):
114.2
110.7
Unit value _ _
1967=100.
123. 9
122.7
Quantity
_. _ _
do_
137. 1
140.0
Value
do
General imports:
111.6
117.4
Unit value _ _
__
do
133.1 ; 144.5
Quantity
. do
148.6
169.6
Value
do
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Shipping weight
.__thous. sh/ tons.. 239,774 204,132
22,610
Value
_____
__
mil. $_. 24,394
General imports:
Shipping weight
.-._
thous. sh. tons.. 299, 168 313, 167
26,993
Value
__^
mil.$__ 24,728
112.6
127. 1
116.9
140.3
127.2
116.0
133. 0
127 3
132.2
131 9
•tfta
113.8
143. 5
163.3
115.0
94.5
108.7
113.8
109.3
124.4
115.4
135.8
156.6
115.9
127.2
147.5
117.2
124.3
145 8
116.1
143.3
166.4
117. 3
127.3
149 2
116. 4
137.1
159 5
118 0
130 8
154 4
119 9
141 0
116.7
130.0
151.7
118.0
129.2
152.5
117.4
161.7
189.8
119.8
129.3
154. 9
120.4
130. 8
157.6
118.4
161.5
191.1
118. 9
160 7
191. 0
121. 7
153 1
186 4
123.9
174 5
216 2
124.8
151 9
189 6
125.1
168 5
210 7
126 7
167 9
212 7
126 1
152 7
192 5
127.3
165.8
211.0
128.3
156.0
200.1
20,320
2,434
12,933
989
13, 772
1,312
18, 374
2,161
15, 432
2,044
15, 096
1,968
17, 592
2,102
18, 601
1,910
19 328
2 046
19 631
2 031
17 742
1 991
28, 126
2,603
23,824
1,735
26,271
1,624
28, 004
2,377
27, 209
2,519
25, 293
2,343
29, 266
2,816
25, 335
2,452
28 300
2 868
30 050
2 860
28 083
2 737
12 03
49.4
1,654
13 95
55.9
1,847
15 10
60.9
1,931
15 65
62.7
2,034
11 28
11 93
3 82
3 72
144
36
147
38
27 2
27 8
Animal and vegetable oils and fats.
Chemicals
Manufactured goods 9
Iron and steel
Newsprint
Nonferrous metals
Textiles
^
'<.__
Machinery and transport equipment
Machinery, total 9
Metalworking.
_.
Electrical
Transport equipment.
Automobiles and parts
Miscellaneous manufactured articles
do
f»
9KC K
OK 7
14.7 Q
1 1 Q f>
11. 1
1,210.6 1,302.0 1, 269. 2 1, 334. 0 1, 668. 7 1 429 6 1, 566. 6 1 531 61 04.7 9 1 370 5
550.4
503.6
575.0
568.2
745.6
646 7
fiR7 1
672 7
616 2
4.1
6.9
9.9
9.1
14.3
13 1
1A 7
90
7 8
12 0
qi e Q
310.0
241.7
251.2
232 6
211 9
256 8
282 4
252 5
f>O(*
K
e-i q (\
117 7
9cq i
87 A
9
m
1 Ofit^ 9
299. 1
703 4
552 8
«QQ Q
K
11 5
I CQ O
603.0
135 6
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)
Certificated route carriers:
Passenger-miles (revenue)
_bil. _
Passenger-load factor§
percent. _
Ton-miles (revenue), total^f
mil__
Operating revenues 90..
Passenger revenues
Freight and express revenues.
Mail revenues
Operating expenses©
Net income after taxesO
Domestic operations:
Passenger-miles (revenue)
Express and freight ton-miles...
Mail ton-miles
131. 71
U35.65
48.5
1 18, 685
11.14
47.4
1,573
mil. $._
do
do
do.___
_._..do
do
9,290
7,627
750
306
9,247
—199
10, 046
8,221
2,801
2,306
bil. _
mil..
_do_-._
104. 15
2,215
106. 29
2, 275
8.32
7,180
7,181
-184
7,747
7,500
22
2,101
1,899
27. 56
1,299
29.36
1, 520
2.81
766
617
139
44
2, 109
2,066
2,298
2,219
8
700
583
69
Operating revenues©
.
mil. $..
Operating expenses©
._
____do._._
Net income after taxes©
..do
International and territorial operations:
Passenger-miles (revenue)
bil
Express and freight ton-miles
. mil _
Mail ton-miles
__do
Operating revenues©
Operating expenses©
Net income after taxes©
mil. $..
. do
do
49.7
18, 166
715
-15
826
288
9,718
32
707
11.10
47.5
1,617
223
54
11.98
50.9
1,710
11.74
49.6
1,563
10.27
46.3
1,439
2,557
2,053
242
81
2,494
9
220
66
2,482
169
8.61
227
56
8.03
204
58
9.66
216
80
174
49
1.97
164
59
2.32
148
67
9.30
172
55
8.19
189
55
464
26.8
460
2, 540
2,108
2 801
2 321
'225
2,561
2 638
65
9.60
210
63
68
9 59
194
56
9 15
216
56
2,005
1,986
-12
2.44
119
42
2.08
129
39
568
592
-19
26.7
12 27
52.2
1,651
—46
28
2.49
12. 05
50.2
1,669
209
68
1,990
1,902
100
Local Transit Lines
26.6
26.7
26.7
25.. 7
Fares, average cash rate.
...cents..
444
463
5,497
5,903
Passengers carried (revenue)
mil..
l
.f Eevised.
» Preliminary.
Annual total reflects revisions not distributed to
monthly or quarterly data.
9 Includes data not shown separately.
1Applies to passengers, baggage, cargo, and mail carried.
10.00
45.2
1,485
2,44
148
44
436
27.6
437
27. 2
218
55
192
49
229
55
2 156
2' 035
47
2 67
137
38
2 88
140
38
535
575
-34
27.0
10 68
3 26
141
38
645
603
21
27.2
27.2
27.2
27 8
488
447
460
442
384
411
427
§ Passenger-miles as a percent of available seat-miles in revenue service; reflects proportion
of seating capacity actually sold and utilized.
©Total revenues, expenses, and income
for all groups of carriers also reflect nonscheduled service.
SURVEY OF CUERENT BUSINESS
S-24
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
November 1972
1971
1971
Annual
Sept.
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
OctJ
TRANSPORTATION AND COMMUNICATION—Continued
TRANSPORTATION— Continued
Motor Carriers (Intercity)
Carriers of property, class I:
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 and1 contract carriers of property
(qtrly.) rf
average same period, 1967=100..
Common carriers of general freight, seas. adj.
1967=100..
Carriers of passengers, class I:
Number of reporting carriers
Operating revenues, total
mil. $..
Expenses, total
do
Passengers carried (revenue)
. mil_.
U,359
11,050
10, 655
554
112.4
119.0
122.0
111.1
124.5
121.5
172
724.5
172
760.9
666.5
640. 7
174.0
112.0
119 9
125 0
129.9
135 6
131 0
137.0
137. 4
135 3
127 6
132 1
8 416. 0
8 346. 2
8 86. 5
167. 3
-I 0
124 0
125.7
72
Class I Railroads
Financial operations, qtrly. (AAR):
Operating revenues, total 9 .
.mil. $.. 11, 982 7 12, 689 73,102
2,885
11, 786
10,913
Freight ....
do
756
420
7294
Passenger ©
do _
2,458
9,650
10, 053
0 perating expenses ®
do
478
1,939
1, 845
Tax accruals and rents
_
do._
166
487
698
Net railway operating income
do
6
666
6229
350
Net income (after taxes) ©
do
Traffic:
Ton-miles of freight (net), revenue and nonrev777.2
752.2
enue
___
__bil._
738.3 - 179.3
764.8
Revenue ton-miles, qtrly. (AAR)— . _do
1.594
Revenue per ton-mile
__cents_. 4 1. 431
8,901
Passengers (revenue) carried 1 mile
mil-- 4 10,770
Travel
Hotels and motor-hotels: §
-jo or
Average sale per occupied room
dollars-55
Rooms occupied
% of total-.
114
Restaurant sales index... same mo. 1951 =100. .
Foreign travel:
6,659
U.S. citizens: Arrivals.
_._.-_ thous..
6,499
Departures
do_L.4,065
Aliens: Arrivals
.. -do
3,449
Departures
do__.2,219
Passports issued
do
45,753
National parks, visits J
_ _
rdo
124. 9
KO
•\A OO
54
55
114
7
7 3 094
2 ggg
'7 62
2 506
496
170
447
142
6
6 fiS
8363.3
176.1
s 1. 622
8 5, 067
15 06
13 52
3 lg 33
18 02
41
353
58
53
116
117
108
116
7,591
7,059
4.325
3,567
2,399
48, 863
768
598
453
325
147
4,978
647
509
365
313
106
3,417
544
442
305
269
113
1,931
427
530
320
322
121
1,246
79
.
185.2
12 36
*62
7
3 195
3 000
7
63
2 530
103
109
655
500
403
285
158
1,273
579
531
18 73
19. 07
132
143
618
674
765
612
381
303
314
2,898
62
90 d.
Q«7
238
287
327
2,184
227
1,553
66
3, 437
3,226
7
68
2 686
512
239
s 151
199.0
. .
195.3
—
19 53
19.45
19.83
136
124
68
117
19.54
140
704
730
749
931
330
328
4,390
382
329
7,258
1,055
1,003
579
450
249
10, 819
235
10,393
5,651
19.35
66
OQf-
68
AAK
63
2
67. 4
64
125
174
140
3,933
COMMUNICATION (QTRLY.)
Telephone carriers:
,
O Derating revenues 9
Station revenues
Tolls message
Operating expenses (excluding taxes)
Net operating income (after taxes)
mil $
do
do
do
do
18 100
8*908
6 947
11 596
3*010
104 1
19 811
9,699
7, 655
12 886
3 354
108 4
5 008
2 446
1 941
3 325
107 1
108.4
9 5, 017 10 5 653
9 2, 473 10 2 789
9 1, 947 10 2 184
9 3,9 199 10 3 654.
10
864
960
9110.9 10 115 g
Telegraph carriers:
Domestic:
Operating revenues
mil $
402 5
334 6
34.0
396.8
337 0
31.7
95 5
82 7
do
4.4
111 4
90 2
15.7
108 6
90 5
11.7
do
do
do
193.7
144 9
39.3
206.0
150. 8
44.3
50.9
37 8
10.2
52.8
38 9
11.3
55.3
Net operating revenues (before taxes)
International:
Operating revenues
Operating expenses
Net operating revenues (before taxes)
5,146
2,526
1,959
3,406
873
809
.,
on 3
13.0
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:
Acetylene^
mil cu. ft
Ammonia, synthetic anhydrous^ thous. sh. tons
Carbon dioxide liquid, gas and solid J
do
Chlorine gas (100% Cla)t
do
Hydrochloric acid (100% HCl)t
do
Nitric acid (100% HNOs) I
do
Oxygen (high and low purity) O
mil. cu. ft
Phosphoric acid (100% PjOs)! .thous. sh. tons
Sodium carbonate (soda ash), synthetic (58%
NajO)J
thous. sh. tons
Sodium bichromate and chromate
do
Sodium hydroxide (100% NaOH)J . _ _ do
Sodium silicate anhydrous J
do
Sodium sulfate anhydrous t
do
Sulfuric acid (100% HjSOOJ
- .
do _
14, 834 '12,336
13, 570 ' 13, 745
1,018 ' 1, 085 ' 1, 117 ' 1, 088
r
1, 151
1,166
1, 126
1,245
'112
'109
'104
' 1, 270
'104
808
' 9, 352
809
'768
843
' 9, 764
2,025
165
166
171
176
1, 997
' 6, 742 '543
'561
'562
' 6, 679
'583
329,729 ' 319,152 ' 23,737 ' 25,236 ' 24,835 ' 26,250
496
5,685
' 6, 061
471
'526
541
' 1,135
4,393
154
10,064
'628
1,368
29, 525
4,275
'138
9,692
'628
1, 350
29,422
341
10
791
'54
106
2,323
360
12
831
'57
110
2,405
356
9
840
'54
111
2,466
' Revised.
» Preliminary.
1 Number of carriers filing complete reports for the year.
3
2 For month shown.
See note "§".
* Annual total reflects revisions not distributed
5
6
to the monthly or quarterly data.
Based on
six months ending in month shown.
Be7
fore extraordinary
and
prior
period
items.
Reporting roads
only; excludes AMTRAK
8
9
operations.
For six months ending in month shown.
For 1st qtr. 1971, 72 carriers.
10 For 72 carriers.
cflndexes are comparable for the identical quarter of each year (and from year to year).
©Natl. Railroad Passenger Corp. (AMTRAK) operations for 1971 (mil. $): Operat-
411
10
876
'52
113
2,742
1,023
1,108
91
786
173
588
27, 275
496
322
10
824
43
109
2,440
1, 002
1, 169
89
772
170
585
26, 651
509
355
11
809
47
110
2,447
997
917
893
953
925
943
1,237
1,280
1,290
1,212
1,150
1,223
115
799
186
625
108
807
177
626
28, 713 ' 28, 691
560
541
381
11
839
65
122
2,679
367
10
^841
55
109
2,646
123
845
178
623
30, 353
551
383
11
880
56
130
2, 713
123
129
810
838
180
181
531
577
29,388 ' 28, 920
501
490
342
11
837
54
118
2,522
'353
12
'856
132
857
195
' 524
28, 922
507
380
13
892
48
107
45
106
2,487 ' 2, 659
1,147
551
517
2,484
ing revenues, 86; expenses, 179; net income, —55 (Interstate Commerce Comm.).
9 Includes data not shown separately.
JRevised monthly data back to 1969 will be shown later.
O Not comparable with data in 1971 BUSINESS STATISTICS.
§ Effective Jan. 1972, data reflect an expanded sample that includes many motor-hotels;
comparable Sept. 1971 figures are as follows: Average sale per room $18.79; occupancy, 62%.
IData include visits, effective Jan. and July 1971, to Guadalupe Mts. and Redwood National Parks, and effective Jan. 1972, to Arches and Capitol Reef National Parks.
SURVEY OF CUKEENT BUSINESS
November 1972
1970
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
S-25
1971
1971
Sept.
Annual
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
124.2
2.5
11.3
3.0
9.8
21.3
519. 8
19.6
411.1
32.1
26. 1
85.3
74 2
29.1
30.2
79.6
74. 1
Oct.
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS— Continued
Organic chemicals, production:^©
Acetic anhydride
Acetylsalicylic acid (aspirin)
Creosote oil
11,589.0 1 1,545.8
135.2
31.7
119.2
1 103. 4
123.0
2.9
7.2
116.0
3.0
10.7
115.1
2.4
9.7
113.5
27
10.6
120.3
3.4
8.8
118.1
2.7
10.0
132.0
3.1
12.0
127.0
3.2
9.2
129.5
3.1
10.1
121.1
119.4
3.0 ,
2.7
10.3
8.9
mil. lb_. 1161.4 i 159. 8
1 4,426.9 i 4,373.1
do
339.8
336.1
- do_ __
28.2
29.6
__ _ _ d o _
i
754. 7
i
742.
7
mil- gal
i 734.0 i 766. 4
mil Ib
13.6
413.2
11.7
409.0
9.7
387.6
16.7
338.3
11.5
400.2
13.1
419.1
17.2
449.5
16.5
408.0
21.9
462.1
20.5
443.4
11.8
384.5
28.8
26.8
57.8
58.3
28.5
27.8
60.9
65.1
29.8
27.3
67.8
72.8
26.4
28.2
72.9
69.8
26.7
27.2
67.5
66.4
29.5
29.4
64.1
66.3
29.0
28.9
78.7
66.7
29.9
26.8
68.6
71.0
32. 2
29.8
75.0
75.9
31.4
26.2
70.5
95.0
25.7
26.3
75.1
82.1
630.5
164.0
513.8
84.7
553.8
132.8
436.7
88.0
46.9
138.8
34.2
7.9
56.4
135.0
37.9
8.2
51.6
136.7
37.1
9.0
46.9
132.8
36.2
7.5
38.0
126.5
35.1
6.7
43.8
123.3
36.8
6.5
46.1
108.6
39.0
7.7
43.7
109.8
38.2
7.0
52.4
101.8
39.8
8.0
56.7
100.0
36.8
8.4
54.7
98.1
38.6
6.0
57.7
98 9
39 0
6.1
mil. wine gal
_ do_
_ _ _ . do
276.9
276.2
3.0
234.1
234.6
2.9
18.3
18.4
2.7
20.3
20.1
2.9
18.2
18.2
2.9
19.6
19.6
2.9
18.9
19.4
2.4
19.7
19.6
2.5
21.0
20.8
2.9
20.6
20.4
3.1
21.8
22.0
2.8
21.0
21.0
2.8
21.1
21.2
3.0
21 2
21 4
2 7
Exports total 9
thous. sh. tons
Nitrogenous materials
_ do
Phosphate materials _ _ _ _. ^
__. do
Potash materials
do
16, 005
1,133
12, 543
966
17, 106
1,050
13,431
1,033
1,666
95
1,327
101
1,318
111
1,010
88
1,322
64
1,079
78
1,308
133
899
85
1,630
137
1,209
109
1,563
92
1,072
121
1,185
123
882
67
2,034
68
1,802
60
1,216
54
968
118
2,182
78
1,849
79
1 697
75
1,324
133
1 643
104
1,217
124
1 802
374
229
4, 549
203
31
11
463
47
19
34
354
(3)
14
15
468
0
17
13
316
2
28
28
468
13
36
34
377
14
52
36
582
6
71
38
640
5
73
14
453
1
19
14
283
31
10
13
260
4
15
16
298
23
17
13
410
0
4,603
5,026
364
437
404
389
423
381
651
603
547
388
174
307
r 369
4,596
484
4,966
389
420
339
418
287
415
343
484
389
417
389
443
338
505
279
489
235
498
240
431
324
427
'415
449
379
Explosives (industrial), shipments, quarterly!
mil. lb_. 2,046.5
2, 120. 0
567.7
Paints, varnish, and lacquer, factorjr shipments:
2, 737. 1
Total shipments
mil $
1, 497. 6
Trade products
______ _
do
Industrial f i n i s h e s _ _ _ _ _ _ _ _ _ _ _ d o __ 1,239. 4
2, 830. 9
1, 562. 8
1, 268. 2
266.8
149.9
116.9
226 8
119.6
107.2
208.9
107.6
101.3
183 3
90.8
92.5
209 6
101.4
108.2
226.0
117.4
108.7
261 0
140 2
120 8
252 7
143.2
109 5
285 8
162 0
123 8
292 4
171 7
120 7
257 6 r 286 4
160 0 r 167 2
97 7 r 119 1
8, 620
4,311
696
4,208
769
4,321
745
4,388
754
4,311
748
4,374
731
4,297
777
4, 274
732
4,267
738
4,156
715
4,104
741
4 159
mil. lb_. 1635.6
(2)
i 569. 3 i 637.7
_ _ do__
11,141.8
_ _ do _ _ 11,185.9
1
do
746. 2 i 683. 4
71.9
107.0
64.2
62.2
108.1
64.9
58.2
105.1
60.6
55.8
94.2
56.8
(2)
117.8
(2)
109.5
120.2
121.4
123.1
122 9
116 7
Thermoplastic resins:
Cellulose plastic materials
do ___ 1 182. 2
(2)
Coumarone-indene and petroleum polymer
resins
_.mil. Ib.. 1 i 282. 6 1
(2)
Styrene-type materials (polystyrene)
do
3, 549. 7 3,749.8
Vinyl resins (resin content basis) ._ _. do _ _ _ 11 3, 756. 4 i1 4,075.8
Polyethylene
_do
5, 844. 1 6,395.8
328.3
347. 5
557.2
315.3
381.4
561.0
326.9
363.4
557.1
338. 8
372. 6
579.6
318.5 324.1
332. 4 • 312.9
573.5 566 8
357.3
354 4
625 7
357.7
339 1
622 8
395.0
349 9
644 3
391.2
352 8
603 9
370.7 r 389. 9
323 3 r 349 Q
604 3
658 0
mil. Ib
_ do
mil. gal
Ethyl acetate (85%)
Formaldehyde (37% HCHO)
Glycerin, refined, all grades:
Production
Stocks end of period
.
Metbanol synthetic
Phthalic anhydride
r
r
ALCOHOL
Ethyl alcohol and spirits :t
Production
Stocks end of period
Used for denaturation
Taxable withdrawals _ _
mil. tax gal__
do
__ - do_ _
_ _ _ _ ___do
Denatured alcohol :J
Production
Consumption (withdrawals)
Stocks, end of period __
FERTILIZERS
Imports:
Ammonium nitrate _ _
Ammonium sulfate__
Potassium chloride
Sodium nitrate
__ _
_ _
_
__
do
do .
do
___do
Potash deliveries (KjO) __
__ __ _ do _
Superphosphate and other phosphatic fertilizers
(100% PS0«) :
Production t
thous. sh. tons__
Stocks, end of period _.
do __
326
218
4,165
129
1
1
1
410
61
1 292
217
r 369
475
MISCELLANEOUS PRODUCTS
Sulfur, native (Frasch) and recovered:
Production
thous. Ig. tons__
Stocks (producers'), end of period-- __ ..do_ __
* 8, 531
4,038
5
486.9
522.6
573 0
554 0
9fifi fi
151 5
115 1
796
4 127
PLASTICS AND RESIN MATERIALS
Production:
Thermosetting resins:
Alkyd resins
Polyester resins __
Phenolic and other tar acid resins
Urea and melamire resins
6
r 124 1
129 2
385.3
357 5
fifid.
3!
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total }
mil. kw.-hr__ 1,639,771 1,717,520 146, 241 139, 845 139, 231 148,369 153,445 145, 729 149, 055 140,883 146, 663 154, 360
do
1,531,609 1,613,936 137, 819 131, 043 130, 857 139, 724 144, 575 137, 301 140, 056 132, 138 137, 745 145, 523
do
1 284 1531 347 616 118 840 111 367 110 427 115 941 120 078 I I K 1 OD l i e QOQ IAS 7Of%
___do_ . 247,456 266,320 18, 979 19, 675 20, 430 23, 783 24, 497 22 172 24 127 23 434 24 370 23 269
Privately and municipally owned util
do
1,254,583 1,322,540 114, 428 108, 873 107, 728 115,022 118, 860 112, 973 115, 010 107, 730 112,960 119,219
Other producers (publicly owned)
do ___ 277, 026 291, 396 23,391 22, 170 23, 129 24, 701 25, 715 24, 327 25, 046 24, 409 24, 785 26 304
108, 162 103, 585
8,422 8,802
8,374 8, 645
Industrial establishments, total
do
8,870 8,428 8,999
8,744
8, 918 8,837
By fuels
:
do. _ 104, 919 100,325
8,553 8,120 8,381 8,597 8 190 8 712 8 447 8 615 8 537
8,197
By waterpower
_.
do
249
254
225
3, 243$ 3,260
263
273
238
298
303
287
299
Electric utilities, total
By fuels
By waterpower
r
1
Revised.
» Preliminary.
Reported annual
total reflecting revisions not
distributed to the monthly data. 2 Series
3
4
discontinued.
Less than 500 short
tons.
Annual6 total reflects sulfur content, whereas
5
monthly data are gross weight.
Gross weight.
Beginning Jan. 1972, data exclude
polyvinyl acetale, polyvinyl alcohol, and other vinyl resins; comparable Dec. 1971 figure,
320.1 mil. Ib.
©Scattered revisions have been made in the annual data back to 1967; except for glycerin
monthly revisions are not available.
cTData are reported on the basis of 100 percent content of the specified material unless
otherwise indicated.
9 Includes data not shown separately.
§Data exclude black blasting powder.
I Revised monthly data for 1970 will be shown later.
SURVEY OF CUKRENT BUSINESS
S-26
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
1 1971
Annual
November 1972
1971
Sept.
Oct.
1972
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 (Edison Electric
1,391,359 1,466,441 130,062 123, 996 119, 753 123, 145 128, 150 127, 924 127, 079 124,326 123,457 128,367 134, 108
Institute) mil. kw.-hr
Commercial and industrial:
312, 750 333,752 31,241 29, 219 27, 471 27, 358 28,008 27, 954 27, 952 27, 915 28,247 30, 514 32, 423
Small light and power§_
do
572, 522 592, 700 50, 561 50, 593 50,069 49, 606 50, 145 50, 268 51,555 51, 825 53, 161 53,651 52, 492
Large light and power§
do
Railways and railroads
Residential or domestic
do
do
4,633
447, 795
4,537
479,080
342
43, 093
353
39, 022
370
37,048
400
40, 891
423
44,644
417
44, 295
410
42,162
365
39, 352
368
36, 813
335
38,827
345
43, 899
Street and highway lighting
Other public authorities
Interdepartmental
do
do
do
11, 183
37, 816
4,660
11, 673
39,819
4,880
965
3,445
414
1,018
3,376
415
1,063
3,348
385
1,117
3,374
399
1,120
3,397
414
1,046
3,529
415
1,023
3,551
425
971
3,488
410
928
3,526
413
901
3,671
469
906
3,601
442
Revenue from sales to ultimate customers (Edison
Electric Institute)
mil. $__ 22,065.9 24,725.2 2,253.8 2, 148. 9 2,062.0 2,121. 0 2,213.9 2,221.3 2,203.4 2, 179. 5 2, 178. 2 2, 286. 8 2,412.0
GASf
Total utility gas:
Customers end of period total
Residential
Commercial
Industrial
Other
Sales to customers total
Residential
Commercial
Industrial
Other
thous
do
do _
do
do
41,903
38,461
3, 183
201
58
42, 594
39, 087
3,259
205
44
41, 935
38,554
3,136
205
40
42, 594
39, 087
3,259
205
44
*43, 024
39, 477
3,259
207
81
?42, 629
39, 191
3,187
204
47
tril. Btu
do
do
do
do
16, 044
4,924
2,007
8,439
674
16,489
5,028
2,079
8,721
661
3,134
425
235
2,317
157
3,978
1,170
506
2,129
173
*5, 468
2,243
927
2,061
237
?3, 977
1,067
480
2,207
223
10,283
5,207
1,620
3,181
274
11,341 1, 790. 4
629.0
5,661
204.0
1,818
3,573 895.5
61.9
289
2, 804. 4
1, 375. 4
453.6
896.7
78.6
"4,374. 7
2,440.1
835. 7
989.7
109.2
»2, 841. 2
1,327.8
442.1
980.5
90.9
Revenue from sales to customers, total — mil. $__
Residential
do
Commercial
do
Industrial
do
Other
do
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
133. 12 137. 36 11.41
Production
mil. bbl
127. 52
10.96
121.86
Taxable withdrawals
- -_do
12.23
13.31
12.26
Stocks end of period
do
Distilled spirits (total):
182.56
13.42
Production
mil. tax gal- 212.29
Consumption, apparent, for beverage purposes
2
382.
34
30.37
mil. wine gal— 2371.52
17.45
173. 71 182. 08
Taxable withdrawals
mil. tax gal996.62 997. 52
1, 008. 54
Stocks end of period
do
102. 14
18.55
Imports
mil. proof gal
90.89
Whisky:
119. 38
8.56
146.36
Production
mil. tax gal
116. 84
11.74
112.88
Taxable withdrawals
do
945. 80 949. 82
954. 58
Stocks end of period
do
Imports
mil. proof gal
75.59 1 89. 29 15.75
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
Distilling materials produced at wineries— _do___.
9.86
9.74
12.78
10.02
9.83
12.23
17.71
18.35
18.75
31.37
17.92
996. 16
10.18
38.64
18.26
993.62
8.24
18.66
16.50
18.76
16.50
16.27
18.88
15.83
8.04
47.28 26.03 26.59
28.67
33.30
32.45 ' 35. 18 P 27. 80
15.52
13.97
12.52
14.24
15.97
18.19
16.61
14.19
16. 73
996. 62 1,000.98 1,003.89 1,006.66 1, 008. 08 1,009.32 1, 007. 56 1, 001. 98 991. 93
7.18
6.00
6.47
8.17
6.69
9.27
7.45
6.99
6.13
7.10
10.79
12.34
947. 17
8.89
11.41
12.19
944. 54
7.46
11.25
9.59
945.80
6.48
12.86
8.49
949. 31
5.14
12.28
8.40
952. 82
5.54
13.37
10.38
955. 90
7.10
11.31
8.86
957. 72
5.76
12.11
9.72
959.37
6.50
9.89
10.83
958.39
8.20
4.72
9.36
952. 97
6.20
3.63
10.94
944. 46
5.26
6.19
10.53
9.80
13.31
9.96
8.75
12.97
10.38
9.09
13.64
12.62
11.69
13.82
12.53
11.09
14.51
13.25
12.41
14.45
14.21
13.12
14.40
13.18
12.22
14.49
13.09
12.89
13.75
113.67
64. 37
116.12
63.05
10.46
5.88
10.97
6.17
12.14
6.85
9.77
4.95
8.19
3.69
8.19
4.22
10.15
5.29
9.45
5.11
10.87
6.02
11.44
6.36
8.97
5.47
9.26
4.43
23.03
20.36
7.38
1.79
24.60
22.10
8.57
1.88
2.09
1.75
10.01
.35
2.05
2.39
9.54
.22
2.38
2.81
8.99
.14
2.66
2.91
8.57
.12
1.95
1.36
9.07
.14
1.20
1.05
9.09
.15
1.76
1.48
9.24
.15
1.58
1.08
9.69
.14
1.82
1.57
9.81
.16
1.65
1.78
9.58
.15
.79
1.01
9.31
.12
2.83
1.35
10.65
.12
.10
245.04
216.97
293. 32
28.23
357. 33
247.20
366. 35
134.28
57.65
20.42
209.01
5.38
126.44
22.26
310. 06
2.99
54.21
69.05
23.13 25.31
347.50 366. 35
2.09
1.49
7.97
21.17
350.63
3.03
7.60
19.91
335. 34
3.62
8.23
25.69
314. 47
3.57
4.84
21.00
297. 85
2.87
8.16
21.75
281. 43
3.84
7.51
24.24
262. 06
3.80
7.52
17.70
251. 81
3.49
26.39
19.95
255. 37
4.02
3.33
303. 08
402. 38
113. 99
176.09
73.30
16.45
4.04
6.76
2.89
4.06
2.92
.48
.96
50.22
69.4
222.0
.692
79.9
188.9
.688
79.3
155.0
.688
89.9
96.8
.690
101.5
79.1
.688
99.4
93.1
.688
106.8
109.7
.688
110.2
130.9
.688
119.4
159.1
.688
111.1
194.8
.688
89.4
211.4
.688
76.3
65.4
198.2 r 178. 2
.704
.710
179. 0
111.1
184.8
109.7
177.3
103.6
197.8
114.6
199.0
124.0
197.3
122.9
230.8
147.7
232.1
153.9
250.8
172.1
257.9
176.4
237.8
164. 2
220.0
145.6
304.3 357.6 333.5 316.7
Stocks, cold storage, end of period
do
324.5
238.9
American, whole milk
do
254.0
250.9
283.7
262.4
14.0
161.3
Imports _
_ d o
95.5
6.4
3.4
Price, wholesale, American, single daisies (Chicago)—.
_
_
$ per Ib—
.671
.669
.669
.669
.649
' Revised. ' Preliminary. 1 Reported annual total revisions are not distributed to the
monthly
data.
2
Includes Hawaii; no monthly data available.
§ Data are not wholly comparable on a year to year basis because of changes from one
304.3
238.9
9.7
296.2
232.1
13.8
285. 0
223.6
17.2
288.9
228.4
12.7
311.7
246.7
10.0
346.9
277.5
13.0
378.9
309.9
10.1
407.6
341.3
14.9
409.8 ' 404.0
342.0
335.8
14.1
15.6
DAIRY PRODUCTS
Butter, creamery:
Production (factory) J
_ __ _ mil. Ib
1, 137. 0 1,143.6
96.8
Stocks, cold storage, end of period
do
118.8
.693
.704
Price, wholesale, 92-score (N.Y.)
$ per lb__
Cheese:
Production (factory) total t
mil. Ib 12,203.8 12,380.4
American, whole milkj
„_ __
do
1,423.4 1,510.6
148.3
.708
199.7
125.0
379.6
314.4
.684
.702
.676
.707
.702
.727
.719
.709
.709
.707
classification to another.
f Data restated to represent the total gas utility industry, 99
percent of which is natural gas; also, sales are expressed in B.t.u. instead of therms.
I Revised data for months prior to May 1971 will be shown later.
SURVEY OF CURRENT BUSINESS
November 1972
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
S-27
1971
1971
Annual
Sept.
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
June
May
July
Aug.
Sept.
Oct.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS— Continued
Condensed and evaporated milk:
1,268.3 '•1,243. 4
'83.3
79.5
79.5
92.0
84.0
85.0
104.5
105.5
124.4
130.8
109.4
109.5
85.7
115.7
88.6
163.0
151.5
111.7
88.6
73.9
63.8
61.3
77.0
107.3
123.7
144.3
138.8
143,6
16.4
33.3
35.1
32.7
.2
1,2
.8
2.4
2.9
2.8
2.4
3.5
1.1
3.3
1.0
2.9
5.0
2.9
3.4
3.2
2.8
2.9
.1
3.2
.3
3.1
.1
5.0
W
3.6
Fluid milk:
117, 149 118, 640
Production on farms
mil. Ib
8 58, 961 860,363
Utilization in mfd. dairy products
do
5.87
5.71
Price, wholesale, U.S. average
_ $ per 100 lb__
9,365
4,387
5.98
9,419
4,371
6.09
8,950
4,109
6.17
9,423
4,467
6.17
9,635
4,991
6.13
9,346
5,050
6.10
10,440
5,787
6.01
10, 655
5,901
5.84
11, 307
6,554
5.76
11, 021 10, 503
6,673 5,887
5.76
5.78
10, 065
5,405
6.01
9,494
4,639
'6.23
5.2
86.0
6.5
86.8
4.9
78.5
4.7
93.1
7.0
98.5
6.5
100.0
8.2
118.0
8.1
128.9
8.5
153.0
7.3
160.0
4.3
127.4
4.8
99.4
5.4
77.0
6.8
107. 2
6.7
106.5
5.3
91.3
4.0
87.3
4.6
76.3
4.0
68.7
4.3
62.2
5.2
73.6
5.6
93.4
7.6
106.0
7.2
107.1
6.0
89.7
5.4
64.5
25.0
U24.2
3.6
6.5
1.5
4.1
3.3
18.4
1.6
11.5
3.5
10.7
3.3
7.1
3.9
15.4
2.3
10.7
3.4
24.4
2.8
26.5
4.9
17.4
2.2
12.5
4.5
17.0
.307
.320
.320
.821
.319
.318
.320
.319
.322
.317
.318
.319
.322
.330
1,204. 5
134.5
62.6
110.9
122.3
106.2
109.6
110.5
117.7
147.7
152.8
137.4
173.5
181.5
2 409. 8
380.7
238.5
142.2
55.1
2 462. 5
391.3
254.4
136.9
7
53. 2
487.7
316.6
171.1
2.8
2.4
2.3
391.3
254.4
136 9
5.5
.2
.3
283.0
165.1
118.0
2.6
"~~3~r
1.14
1.13
1.21
1.20
1.09
1.09
1.16
1.16
1.15
1.16
1.16
1.16
1.19
1.18
1.18
1.18
1.16
1.16
1.16
1.16
5,540
4,642
3,493
1,148
7
511. 7
3 663
3 423
3240
68.3
25.9
66.7
4,642
3,493
1,148
65.8
63.9
58.6
3,344
2,447
897
48.7
62.0
1.35
1.33
1.39
41.36
1.15
1.13
1.10
1.11
1.07
1.09
1.21
1.20
1.22
1.22
1.21
1.21
1.23
1.21
1.26
1.23
2909
913
702
211
2876
937
687
251
1,086
806
281
Production case goods cf
mil. Ib.
Stocks, manufacturers', case goods, end of month
or year cf
...mil. lb__
Exports:
Condensed (sweetened)
Evaporated (unsweetened)
do
- do
Dry milk:
Production:
Dry whole milk
mil. lb__ 8 68.7
1,444. 4
Nonfat dry milk (human food)—
do
Stocks, manufacturers', end of period:
4.7
Dry whole milk
do
898.5
Nonfat dry milk (human food)
do
Exports:
13.8
Dry whole milk
__do
212.3
Nonfat dry milk (human food).
do
Price, manufacturers' average selling, nonfat dry
.263
milk (human food)
$ per lb._
3
7
77. 8
1,417. 6
4.0
87.3
r
9,525
*6.36
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats rye, wheat).. -mil. bu~ 1, 337. 5
Barley:
Production (crop estimate)
St.ocks (domestic), end of period—
On farms.
Off farms
Exports, including malt§
Prices, wholesale (Minneapolis):
No. 2, malting
No. 3, straight
do
do
do
do
do
__$ per bu__
do
Corn:
Production (crop estimate, grain only). .mil. bu_Stocks (domestic), end of period, total, .mil. bu_.
On farms
__do _
Off 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).
mil. bu
Stocks (domestic), end of period, total- _ __do _
On farms..
_
..._
do
Off farms..
__
do
Exports, including oatmeal _ _
___do
Price, wholesale, No. 2, white (Chicago)
$ per bu_.
Rice:
Production (crop estimate)
...mil. bags9__
California mills:
Receipts, domestic, rough
mil. lb__
Shipments from mills, milled rice
__do
Stocks, rough and cleaned (cleaned basis), end
of period
mil. lb._
Southern States mills (Ark., La., Tenn., Tex.):
Receipts, rough, from producers
mil. lb__
Shipments from mills, milled rice
do
Stocks, domestic, rough and cleaned (cleaned
basis), end of period
___mil. lb._
Exports
do
Price, wholesale, Nato, No. 2 (New Orleans)
$ per lb._
Rye:
Production (crop estimate)
mil. bu..
Stocks (domestic), end of period
do
Price, wholesale, No. 2 (Minneapolis)..? per bu._
Wheat:
Production (crop estimate), total
Spring wheat.
_
Distribution
mil. bu_.
do
do. -
24,099
3,736
2,723
1,013
572.0
7
937
687
251
do_ _
do
r
1.32
1.32
63.9
97.1
1.29
1.23
1.27
1.20
1.22
1.30
1.21
1.36
1.28
731
502
229
'3547
3333
'3215
7.1
.6
.2
.68
.73
283.8
284.3
1,755
1,393
2,004
1,446
119
86
287
218
117
88
129
82
91
61
85
66
107
40
106
65
119
68
82
98
113
101
93
98
97
86
115
120
6,497
4,438
5,567
4,206
1,627
498
1,106
427
397
294
439
509
570
610
298
375
279
341
1,748
3,828
1,737
3,252
1,504
440
1,840
395
1,869
160
1, 737
232
1,566
276
1,428
535
.087
.087
.087
.087
.089
.089
50.9
54.9
1.06
'65.5
.95
.96
.92
54.9
.93
1.06
. 085
1,492
1.25
1.25
63.0
6.75
2 1,370
2260
1.18
1.18
1 119
745
375
108.7
21.3
2 1 J],Q
1.18
1.17
2, 178
1,568
r
610
65.2
5.72
238.8
41.6
1.15
1.20
1.21
1.18
1.18
9 418. 2
451 1
320.0
131.0 —
1.2
2
2
.2
3.1
2.6
1.7
6.6
3.5
1.9
3.4
1.31
1.28
9731
967
718
249
.4
.4
.80
.79
.82
164
83
297
282
328
259
82
112
130
165
116
104
46
285
430
197
466
51
396
208
245
1,128
332
1,814
456
1, 290
219
1,078
242
803
338
491
528
395
541
858
360
1,643
242
.089
.089
.089
.091
.091
.091
.091
.100
.105
1.08
49.3
1.05
1.06
63.0
1.02
"LOS"
985.1
10
1.09
'3 45. 5
1.02 "T6l~ """I." 66"
21,640
2
476
2 1 IRQ
1,502
85,400
2.6
.78
931.3
9 1, 559
9361
1, 198
9
489
1,415
1,554
1,881
531
700
834
884
853
1,047
r
Revised. * Preliminary. iLess than 50 thousand pounds. 2 Crop estimate for the year.
3
Previous years' crop; new crop not reported until beginning of new crop year (July for
barley, oats, rye, and wheat; Oct. for corn).
* Effective May 1971, weighted average, 4
markets, all grades.
«Average
for Jan., April-Sept., and Dec.
« Average for Jan.-April,
7
June-Oct., and Dec.
Annual total reflects revisions not distributed to the months.
Stocks (domestic), end of period, total
On farms
'33 174. 3
106 5
* 67. 8 ~"~~8.~9~
11.6
17.7
~~~2.Y"
328
341
1,554
700
853
1,213
528
685
348
3865
1,879
3357
739
3
' 508
1,139
3 Monthly revisions for Jan. 1970-Apr. 1971 will be shown later. 9 Nov. 1 estimate of 1972
crop.
10 Effective May 1972, price is for No. 2 (Southwest Louisiana).
d"Condensed milk included with evaporated to avoid disclosing operations of individual
firms.
§Excludes pearl barley.
9Bags of 100 Ibs.
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
1971
1971
Annual
November 1972
Sept.
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Con.
Wheat— Continued
Exports, total, including
Wheat only
_mil. bu_.
do.
689.1
638.7
627.1
588.3
62.1
59.4
34.0
31.7
41.6
39.5
47.7
45.2
39.5
36.5
49.0
45.6
52.5
49.8
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
1.91
1.54
1.79
1.77
1.60
21.72
1.64
'1.55
1.63
1.72
1.58
1.69
1.71
1.60
1.68
1.70
1.60
1.68
1.72
1.62
1.70
1.63
1.61
1.66
1.63
1.61
1.67
22,137 21, 702
378
368
49,301 48, 166
20,090
338
44,492
20, 961
351
46, 265
20,704
356
45, 942
flour
Wheat flour:
Production:
Flour
___thous. sacks (100 lb.)__ 253, 094
4,409
Offal
thous. sh. tons..
Qrindings of wheat
- _. thous. bu__ 563, 714
Stocks held by mills, end of period
4 329
thous sacks (100 Ib )
21, 596
Exports
do
Prices, wholesale:
Spring, standard patent (Minneapolis)
$ per 100 lb._ 6.179
Winter, hard, 95% patent (Kans. City) . _do— . 5.569
249, 810
4,279
555, 092
49.1
47.3
65.0
59.6
72.5
66.7
62.1
58.8
73.8
71 7
71.2
69 0
1.66
1.63
1.69
1.69
1.64
1.71
1.61
1.53
1.66
1.69
1.61
1.69
1.91
1.86
1 88
2.03
2.10
2 05
19, 994 21,058
342
361
44,464 46,882
19,654
338
43,772
21,083
359
46,897
21 ,133
363
47,174
2,300
4 379
2,494
1,381
930
965
5.925 '5.950
5.338 5.338
6.025
5.463
6.525
6.163
6.888
6.363
2
2.12
•2.18*
2 12
19, 811 ' 21, 293 21 347
343
'369
*369
44,155 ' 47, 459 47 634
4,362
16,637
4,861
1,178
982
908
4,362
1,060
1,318
1,472
4,542
1,169
757
6.145
5.446
5.975
5.275
6.000
5.325
6.013
5.338
6.000
5.350
6.000
5.338
5.988
5.338
5.913
5.313
5.913
5.338
2,807
31,419
239
2,788
231
2,667
233
2,564
238
2,528
226
2,556
217
2,457
255
2,698
185
2,471
179
2,807
166
2,833
164
2,488
208
2,923
197
2 789
32.21
31.72
38.00
32.11
34.07
38.00
33.30
34.23
38.00
33. 92
35.11
41.00
35.35
36.61
41.00
35.74
36.92
44.00
34.73
36.95
46.00
34.20
36.93
46.90
35.29
37.72
46.50
37.48
38.37
47.00
37.65
38.81
47.00
35.18
38.20
48.10
34.69
41.29
49.00
6.850
6.413
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected) :
Calves _
thous. animals..
Cattle
do
Prices, wholesale:
Beef steers (Omaha)
.$ per 100 lb_ _
Steers, stocker and feeder (Kansas City)_-do-__.
Calves, vealers (Natl. Stockyards, Ill.)__do
Hogs:
Slaughter (federally inspected).. -thous. animals..
Prices:
Wholesale, average, all grades (Sioux City)
$ per 100 lb._
Hog-corn price ratio (bu. of corn equal in value
to 100 Ib. live hog) "
Sheep and lambs:
Slaughter (federally inspected). __ thous. animals __
Price, wholesale, lambs, average (Omaha)
$perl001b._
«i
3,024
30, 793
29.02
30.15
38.17
32.03
32.09
38.58,
78,187
86,667
7,379
7, 190
7,566
7,547
6,395
6,280
7,794
6,733
6,787
6,312
5,273
6,510
6,420
21.86
18.41
18.28
19.19
18.59
19.94
24.02
25.10
23.19
22.62
24.76
25.71
27.24
27. 87
28.41
18.1
14.5
16.1
19.5
19.3
18.2
20.8
23.6
21.2
19.9
21.7
22.5
24.1
24.3
23 0
34.68
40.87
49.00
•*=
27.37
00 I
10,009
10,256
919
919
818
846
847
801
903
786
803
808
735
840
867
27.43
27.43
27.50
25.88
24.75
25.75
27.88
28.38
29.38
31.00
33.75
34.00
32.88
31.25
30.00
34, 574
36, 207
3,116
3,026
3,072
3,062
2,860
2,747
3,190
2,850
3,096
2,996
2,577
3,080
2,966
759
518
1,844
796
1547
i 1, 789
775
48
223
768
39
110
756
43
102
796
69
188
774
40
161
708
37
94
742
44
138
818
45
159
799
64
162
710
58
152
633
48
166
596
49
216
'597
47
206
19 489
347
32
1,319
19, 696
375
44
i 1, 265
1,721
359
3
173
1,662
355
3
88
1,634
363
3
103
1,562
316
3
95
1,706
297
4
89
1,566
291
5
106
1 783
284
5
111
1,762
262
4
115
1,561
267
4
119
1,847
291
4
168
1,760
'312
4
169
338
.490
.547
.549
.536
1 612 1,606
375
335
5
4
70
143
.579
.559
3.593
.598
.570
.557
.585
.612
.610
.568
.553
.548
514
19
522
19
45
21
46
20
42
19
44
19
45
17
43
13
49
12
42
16
42
20
40
20
36
21
42
21
'19
14, 570
15, 993
1,350
1,319
1,418
1,412
1,181
1,143
1,434
1,242
1,270
1,193
980
1,192
1,163
' 1, 144
307
7
31
1,125
310
7
14
1,198
325
13
25
1,199
330
10
38
1,008
308
3
49
995
287
4
35
1,227
331
4
39
1,060
395
10
34
1,079
381
19
28
1,012
319
14
25
839
254
6
32
1,023
204
5
29
1,011
'192
8
24
216
.534
.498
.501
.498
.542
.526
.567
.494
.639
.501
.604
.607
.584
.638
.644
.570
.617
.548
.588
.614
.604
.694
.605
.699
.581
.654
.594
.668
.641
.682
1 776 i 1,842
100
82
282
366
.147
160
'148
140
83
12
159
82
38
.149
153
100
4
.143
123
78
19
144
105
66
18
144
149
64
15
144
132
81
8
144
139
90
12
144
131
83
13
144
102
64
13
144
121
'52
5
147
108
44
14
149
153
26.75
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:
Stocks, cold storage, end of period
do
Exports
do
Imports
do
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs.) (New York)
$ per lb~
Lamb and mutton:
Production inspected slaughter
Stocks, cold storage, end of period _
Pork (including
slaughter
lard), production,
mil Ib
do
inspected
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
12, 114 113,440
330
336
72
67
357
347
4.542
.569
77
20
.153
651
4^
19
POULTRY AND EGGS
Poultry:
Slaughter (commercial production)
mil. Ib
Stocks, cold storage (frozen) , end of period, total
mil. lb._
Turkeys
._
do
Price, in Georgia producing area, live broilers
$ per Ib..
10,357
1,003
935
870
825
758
826
759
893
975
935
1,055
1,006
391
219
378
223
547
389
636
475
467
309
378
223
359
211
322
180
266
146
237
121
216
111
249
142
322
214
421
313
'522
'407
589
472
.123
.128
.130
.115
.110
.105
.120
.135
.135
.120
.125
.135
.150
.140
.145
.135
«•1 Revised.
Annual total reflects revisions not distributed to the months.
2 Effective May 1971, data are for 5 markets; beginning April 1972, for 4 markets.
1,009
10, 242
34 Beginning Jan. 1972, price for East Coast (New York and Philadelphia average).
Average for Mar.-Dec.
SURVEY OF CUKBENT BUSINESS
November 1972
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
1971
1971
Sept.
Annual
S-29
Oct.
1972
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. casesO__
Stocks , cold storage, end of period:
Shell
_thous. casesO__
Frozen
- - mil. lb__
Price, wholesale, large (delivered; Chicago)
$ per doz.-
195.1
199.3
15.9
16.6
16.5
17.2
17.3
16.2
17.5
16.7
16.1
16.4
16.2
51
50
60
74
134
84
135
82
94
80
60
74
52
71
49
70
80
70
96
73
154
81
217
85
234
88
201
88
'258
'84
.425
.332
.329
.324
.335
.370
.300
.288
.328
.295
.280
294
.330
.327
.373
279.2
.341
315.8
.268
24.6
.271
13.8
.250
10.9
.241
50.3
.234
39.8
.259
39.3
.256
27.6
.285
28.8
.285
24.4
.304
25.6
.315
17.5
.320
13.4
.341
6.8
.360
2,593
19, 960
4,000
19, 607
5,198
4,481
19,727
4, 712
.557
1,910
i 21. 669
5,991
2.461
2,002
2,754
993
.433
215
621
155
.433
204
875
144
.440
195
1,818
647
2,560
1,009
2,172
877
1,137
212
157
167
168
mil. lb__
306
302
338
333
314
302
274
8ugar (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
4,712
6,675
1,497
4,588
6,601
1,230
170
601
50
659
280
95
1,073
333
122
929
441
132
do
do
do
11, 459
11, 310
2,792
11, 444
11,291
2,683
1,123
1,109
1,450
947
935
1,582
903
888
2,134
sh. tons.-
7,892
481
80
59
5,262
1,544
48
675
178
6
.081
.085
.674
.112
.695
.117
thous Ib . 135, 202
16.9
15.5
190
80
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans:
Imports (incl. shells)
thous. Ig. tons..
Price, wholesale, Accra (New York)
$ per Ib...
Coffee (green) :
Inventories (roasters', importers', dealers'), end
of period
thous. bagscf..
Imports, total
do
From Brazil
do
Price, wholesale, Santos, No. 4 (N.Y.)__$ per lb-_
Confectionery manufacturers' sales
mil $
Fish:
Stocks, cold storage, end of period
Deliveries total 9
For domestic consumption
Stocks, raw and ref., end of period
Exports, raw and refined
Imports:
Raw sugar total 9
From the Philippines
Refined sugar total
thous. sh. tons_
do
do
Prices (New York):
Raw, wholesale
. — $ per lb._
Refined-.
Retail (incl. N.E. New Jersey) ....$ per 5 lb_.
Wholesale (excl. excise tax)
___$per lb_.
Tea imports
5,217
1,522
35
r
4,254
5,316
4,000
5,299
3, 506
' 4, 972
.385
3,914
4,671
1,784
437
.480
137
1,452
443
.485
134
1,434
333
163
1,146
286
.463
133
245
224
212
240
687
1,285
41
395
113
34
224
462
153
147
612
92
1,001
990
2,683
823
812
3,008
727
715
3,059
1,058
1,049
2,898
4
55
31
137
327
112
4
281
141
1
464
242
10
498
54
3
.086
.085
.086
.088
.703
.118
.704
.118
.704
.118
.707
.118
175, 432
19, 427
4,631
3,828
11, 862
3 ,515. 0
127.6
309.4
118.1
301.4
122.0
306.5
118.8
3,500.0
76.1
300.2
66.5
276.6
77.2
2,290.0
57.1
194.7
63.5
.308
'•110
1,947
383
.625
177
2,149
969
.590
226
251
290
-•352
"395
147
740
131
90
574
187
121
488
122
130
617
90
542
160
811
802
2,874
978
968
2,672
1,096
1 ,088
2,343
1,001
992
2,032
50
63
27
46
38
55
100
436
53
3
408
135
11
302
58
6
308
24
5
627
160
2
411
54
4
579
217
1
401
187
3
.092
.090
.092
.090
.088
.088
.091
.094
.094
.094
.704
.118
.707
.122
709
.122
.711
.124
.709
.124
.692
.124
. 692
. 124
.695
.124
.699
.124
.124
12,914
16, 907
10, 276
10, 165
12, 885
16, 563
10,835
11, 581
12,830
290.1
127.6
279.4
124. 9
289.1
122.2
301.2
130.0
278.1
136.0
291.4
130.6
290.5
137.7
258.5
120.8
314.9
114.2
295.6
121.1
265.4
74.5
308.3
76.1
314.2
85.9
301.0
80.2
348.7
92.3
321.3
145. 8
359.9
106.1
355.0
99.6
307.1 r 344. 7
89.9
'88.2
308.4
78.2
188.2
64.3
210.1
60.7
219.4
57.1
207.6
68.9
194.7
71.4
201.7
69.1
181.3
82.6
186.3
83.9
186.1
67.1
164.2
68. 4
'71.0
197.1
74.6
.310
.310
.310
.312
.312
.315
.313
.313
.313
.313
. 313
.313
.313
541.6
598.6
41.3
47.6
51.0
63.1
42.1
53.5
38.8
43.5
53.5
36.7
45.2
47.7
41.3
'43.1
46.9
41.6
40.5
58.5
38.0
••45.1
54.7
38.7
'41.0
••46.3
51.8
43.7
44.7
50.7
44.1
40. 2
46. 0
43.1
'47.6
57.8
'36.7
46.2
53.9
35.6
4,967.7
2, 622. 7
379.7
438.3
236.9
409.7
409.9
208.7
401.2
406.4
207.0
397.4
438.5
219.8
379.7
' 402. 4
221.7
411.8
360. 4 ' 408. 2
201.0 '241.8
339.1 ' 318. 5
393.1
237.4
332.4
257.0
-•57.1
134.9
30.4
5.4
138.9
16.8
4.1
156.7
6.0
4.5
147.2
1.6
4.4
134.9
1.4
3.4
96.7
(d)
553.3
740.4
191.1
628.6
(d)
47.9
60.8
143.9
79.3
(d)
56.0
63.1
154. 2
67.8
(d)
46.8
62.3
166.9
28.2
(d)
39.2
59.2
191.1
16.1
485.1
440.3
446.3
57.0
42.0
42.2
38.4
58.3
42.4
33.9
35.2
65.0
40.7
35.7
40.7
69.7
33.4
40.0
44.8
57.0
1
.580
1,167
1,155
' 1 ,532 v 1 ,214
FATS, OILS, AND RELATED PRODUCTS
Baking or frying fats (Incl. shortening) :
3,587.6
Production
mil Ib
132.9
Stocks end of period®
do
Salad or cooking oils:
3,389.1
Production
do
75.6
Stocks end of period©
do
Margarine:
2,230.5
Production
do
45.6
Stocks end of period©
do
Price, wholesale (colored; mfr. to wholesaler or
.289
large retailer; delivered)-.$perlb-_
Animal and fish fats:A
Tallow, edible:
558. 2
569.7
Consumption in end products
do
46.7
Stocks end of period ^
do
Tallow and grease (except wool), inedible:
4, 876. 8
Production (quantities rendered)
do
2,553.5
Consumption in end products
do
396.1
Stocks end of period If
do
Fish and marine mammal oils:
206.9
Production
do
69.6
Consumption in end products
do
103.5
Stocks end of period ^
do
Vegetable oils and related products:
Coconut oil:
3 247. 1
Production* Crude
mil Ib
544.0
Refined
do
750.2
Consumption in end products..
do
202.8
Stocks, crude and ref., end of period 1f__. .do
584.2
Imports
do
Corn oil:
474.0
Production* Crude
do
440.9
Refined
do
449.6
Consumption in end products.. _ _ _ . _ - _ _ _ d o
Stnolrc ornrlft anr? rof Anrl nf nprififHT
r
fif)
43.3
d
Revised.
* Preliminary.
Data withheld to avoid disclosure
of operations of in2
dividual firms. * Reflects revisions
not available by months.
Average for Jan.-Nov.
4
s Monthly data not available.
Effective Feb. 1972, data exclude fish oil stock.
r
' 376. 1 ••429.3
229.5
242.8
392. 7
379.3
53.0
36.4
' 387. 2 ' 425. 8
227.7
241.5
366.6
350.5
414,2
251.6
355.4
3.8
56.0
3.5
55.8
3.0
54.2
3.1
53.5
2.9
53.2
(d)
45.0
57.4
191.5
22.0
(<•)
44.0
63.0
174.5
144.6
(d)
56.8
66.4
187.1
67.9
(d)
51.2
69.7
162.9
27.3
(d)
55.0
73.0
174.6
70.4
09
53.9
76.5
179.3
58,2
38.7
35.9
37.9
59.0
38.7
40.8
40.0
fifi 4
43.5
36.7
38.7
SQ 1
40.0
34.6
32.3
79. 1
46.1
36.4
35.4
81 4
45.7
43.6
41.2
Rl 1
4
r 194. 5
'4.6
51.7
4.6
51.2
(d)
(d)
41.1 '48.3
65.3 '75.1
169. 4 ' 127. 8
47.0
53. 1
(d)
50.6
72.4
126.6
31.7
'43.5
'38.2
'41.3
43.3
41.2
38.0
70.5
4.3
52.8
43.3
34.0
36.6
74- fi
r fi7 2
.313
©Cases of 30 dozen.
cfBags of 132.276 Ib.
§Monthly data reflect cumulative revisions
for prior periods.
9 Includes data not shown separately: see also note " §".
AFor data
on lard, see p. S-28.
0 Producers' and warehouse stocks.
^Factory and warehouse
stocks.
SURVEY OF CURRENT BUSINESS
S-30
1971
1970 | 1971
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
Sept.
Annual
November 1972
Oct.
1972
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:
Production
thous. sh. tons - 1,726.3
85.8
Stocks (at oil mills) end of period
do
Cottonseed oil:
Production* Crude
mil. Ib _ 1, 211. 5
Refined
- _do__ _ 1, 019. 2
931.9
Consumption in end products
do
Stocks, crude and refined (factory and ware184.3
house), end of period
- mil. lb__
369.8
Exports (crude and refined)
do
.175
Price, wholesale (N.Y.). ...."_
$perlb__
1, 720. 6
93.1
50.3
81.9
161.2
87.8
208.9
99.5
219.8
93.1
212. 7
103.6
191.1
107.7
216.5
126.9
155.9
145.8
132.4
159.4
101.8
137.5
76.6
102.6
1, 209. 4
985. 7
728.5
34.3
44.8
50.8
111.8
60.9
52.9
149.0
102.9
57.4
154.0
113.3
60.5
151.1
104.0
53.2
134.9
90.8
49.7
154.4
118.2
66.7
110.2
98.3
48.9
97.7
98.2
63.5
75.8
88.8
63.2
54.4
61.3
55.5
188.3
2 400. 7
.190
93.8
26.2
.201
130.0
3.1
.182
159.5
36.3
.177
188.3
58.5
.174
239.4
23.1
.168
277.3
47.4
.168
295.0
50.4
.168
294.8
47.8
.168
266.0
30.6
.168
239.7
49.7
.168
203.9
33. 5
.168
314. 5
191.4
412.2
213.6
35.4
18.0
36.5
17.6
32.3
15.3
33.3
16.0
38.2
17.3
36.5
17.6
44.8
19.0
36.1
19.7
33.2
22.5
39.0
24.3
33.2
21.9
148.5
.110
224.8
.089
179.9
.088
203.7
.088
210.8
.088
224.8
.088
236.7
.088
245.3
.088
263.5
.088
280.9
.088
275.3
.088
276.6
.095
263.8
.095
17,379.5
112.2
17,104.2
119.8
8, 085. 9
6, 276. 3
6,322.3
8, 081. 5
6,298.0
6,322.9
597.5
568.6
554.0
645.2
534.5
522.0
644.2
504.2
522.2
690.6
534.1
554.8
689.9
525.5
549.5
658.9
523.4
527.6
706.4
559.1
582.6
646.7
534.4
545.4
698.8
556.6
580.6
635.4
534 4
565 8
648.6
479 1
497 1
r
r
T
645. 7
550. 4
571. 6
581.4
529 2
561 5
755.6
802.2
1, 372. 4 21,611.7
.142
.151
772.6
122.2
.155
725. 9
143.0
.154
808.6
43.5
.157
802.2
153.8
.139
782.8
157.8
.135
847.1
71.3
.139
881.2
59.3
.141
952.7
69.3
.143
945.0
89.0
.138
829.7
263 3
.136
854.1
94 1
.126
f
841. 6
57.5
.128
782.2
68.3
.125
95,447
19,363
86, 990
22, 128
4 531
28 581
22, 549
17, 849
17, 510
42, 665
21, 908
4 186
33, 348
18, 281
39 164
17,112
40 455
23, 934
4 405
48, 264
21, 040
4,755
43, 295
452
2,568
4,365
45, 633
459
3,642
3,732
49, 913
540
2 577
2,745
3,826
42, 581 48, 376
457
592
1 959 2,246
4,608
49, 127
473
2,770
3 170 4 676
38 468 53 566
442
563
2 886
2 923
2 921
19 226
124
1 686
15 866
226
1 210
19 078
158
1,43?
19 256 32 641
126
117
1 317 2 152
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 lb._
Soybean cake and meal:
Production
thous. sh. tons..
Stocks fat oil mills) end of period
do
Soybean oil:
Production: Crude
- .mil. lb__
Refined
do
Consumption in end products
do
Stocks, crude and refined (factory and warehouse) , end of period
- - -.mil. lb__
Exports (crude and refined)
do
Price, wholesale (refined; N.Y.)
$ per l b _ _
1,265.1 1,362.0 1, 366. 5
121.4
177.9
167.2
1,471.3 1, 463. 3 1,387.3
119.8
115.6
131.3
1,471.9 1, 346. 5
198.9
136.8
1,439.8 1,308.8
162.6
158 1
'87.2
'•67.7
78.5
34. 3
rQl.2
74.6
71.9
53.6
41.5
53.6
r
58.3
.150
119.6
13.0
.147
40.4
^23. 2
41.1
20.9
253. 3
.095
259.1
.095
r 137.
r
9
.150
.095
1,338.9 '1,335.4
1, 201. 7
149 5
205 9 r 174. 6
.120
TOBACCO
Leaf:
Production (crop estimate)
mil Ib
Stocks, dealers' and manufacturers' end of period
mil Ib
Exports, incl scrap and stems
thous. lb_
Imports, incl. scrap and stems
__do_. _
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
Taxable
_ _ _
Cigars (large), taxable
Exports, cigarettes
1
1, 908
3 1 733
1,707
4,828
5,006
510,325 2474,209
235, 428 2248,529
4,474
76, 841
49, 965
3,509
19, 561
2,375
16, 265
4,828
59, 622
14, 829
49, 206
528, 858
6,503
31,802
7,251
45, 765
558
5,753
2,198
47, 049
595
768
2,688
46, 061
616
1,246
2,939
39, 634
418
2,048
51, 166
millions.
do __ 532, 764
6,705
__do
29, 147
— do
._
1
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
145, 200
Value, total 9
thous. $
1,316
Calf and kip skins
thous. skins
Cattle hides
_ _
thous. hides . 15, 222
155, 821
2,222
15, 962
12, 517
127
1,338
15, 158
123
1,565
16 198
117
1,696
17, 201
220
1,656
51, 300
18, 701
3,028
52, 100
19, 283
1,956
4,000
920
134
1,800
531
136
800
196
19
3,900
1,314
342
4 100
1 021
289
5,800
2,160
314
6,600
2,119
285
5 800
2,139
275
7 500
2,641
356
.331
.129
.294
.145
.280
.155
.280
.153
.280
.168
.320
.163
.330
.178
.450
.190
.450
.233
.575
255
.575
.280
.560
293
LEATHER
Production:
Calf and whole kip
thous. skins
Cattle hide and side kip
thous. hides and kips
Goat and kid
thous. skins
Sheep and lamb
do_
2 717
20, 353
3 979
23, 598
1,621
20, 477
3,148
21, 385
142
1,726
316
1,833
142
1,776
347
1,781
163
1,780
335
1,827
150
1,677
344
1,790
117
1 635
285
1 502
126
1,740
216
1,773
142
1,833
245
1,741
147
1,784
242
1,708
173
1 881
340
1 876
153
1 810
419
1 867
Exports:
Upper and lining leather
79, 365
82, 944
6,830
4,810
5,976
9,198
7 727
8 379
9 816
9 485
11 487
10 360
8 406
114.0
114.4
114.1
114.1
114.1
119.5
121.8
124. 1
136.4
152 5
152.5
152 5
152 5
84.3
81.8
77.2
77.2
77.2
79.6
86.8
86.8
100.1
104.6
106.4
106.4
109.0
111.7
115.3
46 224 r36 089
46 246
44 424
36, 546
9 760
729
211
33, 978
9 492
758
196
161
222
206
Imports:
Value, total 9 _
Sheep and lamb skins
Goat and kid skins
_
_ _ _ _ _ _ thous. $
thous. pieces .
do
Prices, wholesale, f.o.b. shipping point:
Calfskins, packer, heavy, 9H/15 Ib
Hides, steer, heavy, native, over 53 Ib
$ per lb__
do
thous. sq. ft
Prices, wholesale, f.o.b. tannery:
Sole, bends, light
index, 1967 =100. _
Upper, chrome calf, B and C grades
index, 1967 =100. .
LEATHER MANUFACTURES
Shoes and slippers:
562, 318
Production, total-thous. pairs
Shoes, sandals, and play shoes, except athletic
thous. pairs. _ 451, 816
Slippers.. _ _ _
. _
_ _do
96, 181
8,955
Athletic
do
5,366
Other footwear
do
Exports
do
Prices, wholesale, f.o.b. factory:
Men's and boys' oxfords, dress, elk or side
upper, Goodyear welt
index, 1967=100..
Women's oxfords, elk side upper, Goodyear
welt
„
index, 1967=100
Women's pumps, low-medium quality do
r
23 993 24 376
'l53
180
1 324 1 290
5 900 5 800 5 700
1 245 1 627 1 393
415
268
198
4 400
1,075
206
.650
340
.650
.335
148
97
1 216 f I 799
334
219
1 389
1 869
118
1 683
292
1,545
10 935
11 781
.560
293
r
.650
.405
194.2
117.9
535, 777
45, 675
45, 094
40, 701
42, 913
44 525
44310
48 706
44 142
45 169
425, 875
98, 147
8,440
3,315
34,536
10, 158
769
212
34, 638
9,531
718
207
31, 904
7,893
697
207
35, 721
6,334
696
162
36, 766
6,939
680
140
36,206
7,230
722
152
38, 208
8,469
853
176
35, 982
7 292
726
142
35,631
8 656
723
159
2,106
226
163
156
167
161
151
203
148
142
113.3
117.5
118.3
118.3
118.3
118.3
120.1
121.3
122. 6
125.5
128.3
130.1
131.4
131.4
131.4
131.4
116.2
117.1
120.1
121.2
120.2
121.2
120.2
121.2
120.2
121.2
120.2
121.2
120.2
121.2
121.5
121.2
121.5
124.3
124 1
127.4
125 3
130.4
125 3
130 4
127 9
130 4
127 9
130.4
127 9
127 9
2 154
Revised.
1 Crop estimate for the year.
2 Annual total reflects revisions not distributed to the monthly data.
13 489 12 917
193
128
1 272 1 153
3
Nov. 1 estimate of 1972 crop.
9 Includes data for items not shown separately.
T
36, 823 30, 117
8 463 r 5 450
T 409
736
202
113
195
SURVEY OF CURRENT BUSINESS
November 1972
1971
1970
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
Annual
S-31
1971
Sept.
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
LUMBER AND PRODUCTS
LUMBER— ALL TYPES 9
National Forest Products Association:
Production total
mil. bd. ft
Hardwoods
- do
Softwoods
--- do___ _
Shipments total
Hardwoods
Softwoods
__
34, 462
7,023
27,439
36, 617
6,334
30, 283
3,242
532
2,710
3,199
574
2,625
3,028
536
2,492
2,924
481
2,443
2,832
450
2,382
3,076
467
2,609
3,383
506
2,877
3,272
562
2,710
3,420
555
2,865
3,301
33,490
6,195
27, 295
37, 677
6,828
30,849
3,294
583
2,711
3,336
607
2,729
3,067
554
2, 513
3,015
531
2,484
2,942
542
2,400
3,186
3, 566
610
2,576
583
2,983
3,422
622
2,800
3,628
606
3,022
do
do_
do
6,326
1,478
4,848
5,266
984
4,282
5,532
1,084
4,448
5,397
1,053
4,344
5,358
1,035
4,323
5,266
984
4,282
5,155
5 040
743
4,297
4,704
603
4, 264
4,191
4, 101
do
do
1,266
6,095
1,081
7,599
72
797
88
516
131
582
95
679
92
757
101
703
152
768
mil. bd. ft._
do
7,398
457
8,471
566
735
735
696
704
775
740
668
566
819
722
657
644
--do
_-do
do
7,475
7,427
1,058
8,247
8,362
943
715
715
1,045
657
727
975
713
739
949
696
702
943
685
663
965
do
do
do
380
87
292
329
88
240
12
3
8
21
4
17
58
21
37
21
3
19
do_ _
do
do
_
Stocks (cross) mill end of period total
Hardwoods
Softwoods
Exports total sawmill products
Imports total sawmill products
3,102
3 417
3 303
2,561
2 817
2, 708
3,429
567
2,862
3,236
588
2,648
3 468
3 387
609
2,859
630
2,757
3,944
553
3,944
4,368
535
3,834
4 236
489
3,747
4 184
4 097
479
3,705
441
3,656
120
745
126
889
127
761
170
888
132
690
129
820
915
689
763
700
777
563
844
645
735
622
739
597
781
700
764
735
994
826
870
950
731
752
929
810
914
825
722
762
785
738
758
765
759
764
760
673
678
755
25
8
17
13
3
10
49
15
34
36
10
26
44
14
30
40
9
31
30
6
24
35
12
24
37
9
28
135. 33
135. 70
137.42
141.64
143. 55
149. 32
149. 72
150. 30
891
4,857
666
550
2,752
542
600
595
SOFTWOODS
Douglas fir:
Orders new
Orders unfilled end of period
Production
Shipments
Stocks (gross) mill end of period
-
Exports total sawmill products
Sawed timber
_
Boards planks scantlings etc
Prices, wholesale:
Dimension, construction, dried, 2" x 4", R. L.
$per Mbd. ft_.
Flooring, C and better, F. G., 1" x 4", R. L.
$ per M bd ft
Southern pine:
Orders new
Orders unfilled end of period
mil. bd. ft
do
Production
do
Shipments
do
Stocks (gross), mill and concentration yards, end
of period
mil. bd. ft
Exports total sawmill products
_
_
128.88
128.59
127. 45
130.23
134. 97
232 02
231 87
226 28
225 35
(2)
7,316
373
8,640
421
690
405
744
385
693
406
696
421
819
519
740
525
808
517
793
515
767
494
821
499
788
510
824
508
798
510
7,295
7,267
8,432
8,592
715
725
756
764
694
672
688
681
691
721
730
734
782
816
770
795
776
788
803
816
744
777
802
826
770
796
150.70
1,376
1,216
1,195
1,187
1,209
1,216
1,186
1,182
1, 148
1,123
1,111
1,098
1,065
1,041
1,015
64,923
6,973
1,760
1,338
7,050
4,058
5,883
4,521
7,366
5,285
3,912
4 760
5 044
4,852
107.9
133.7
143.2
143. 2
143.0
143.4
144.2
146.0
149.1
153.4
154.5
155. 5
156.2
158.5
159.6
159.9
122.9
132.8
136.0
136.0
136.0
136.0
136.9
138.1
138.7
141.8
141.8
140.7
140.7
140.7
141.5
141.8
mil bd ft
do
9 341
'334
10 458
971
362
365
906
do
do_.
9,378
9,371
10, 175
10, 430
974
974
1 634
1 382
1,437
83. 79
96.44
109. 10
106. 57
105. 14
108. 28
113. 20
117. 69
121. 77
mil bd ft
do
304 4
323 3
26.9
8.1
8.4
27.8
9.1
_ _. do
do
do
315.2
306.7
33.3
306.6
320.9
22.0
27.3
27.8
24.6
Prices, wholesale, (indexes):
Boards, No. 2 and better, I" x 6", R. L.
1967=100..
Flooring, B and better, F. G .1" x 4", S. L.
1967=100..
Production
Shipments
i 117.68
i 227 78
78 418
~M. bd ft
Western pine:
Orders new
Orders unfilled end of period
92.22
226 76
-
Stocks (cross) mill fnd of period
do
Price, wholesale, Ponderosa, boards, No. 3, 1" x
12" R L (6' and over)
$ per M bd. ft
1,025
433
407
424
436
412
933
341
362
874
374
426
465
460
500
887
897
806
819
794
826
705
707
820
808
940
951
882
907
953
980
910
950
818
835
933
938
974
985
1 427
1 414
1 382
1 380
1 39°
1 381
786
847
778
782
968
919
956
964
1,329
1 289
1,272
1,267
1,256
127.01
130. 52
134. 59
135. 18
139. 34
138. 78
1 356
138.44
HARDWOOD FLOORING
Oak:
Orders new
Orders unfilled, end of period
Production
~ _
Shipments
Stocks (gross) mill end of period
24.0
24 7
8.7
7.4
8.1
24 9
10.1
23 7
11.4
26 8
13.7
22 8
15.2
26 9
16.6
24 5
15.8
18 5
15.8
26.1
14.6
21.6
14.0
25.2
27.1
23.2
22.7
24.4
21.4
23.4
23.8
22.0
21.8
22.5
21.3
20.5
22.6
18 8
21.5
24.2
16.1
19.4
20.7
14.7
21.6
23.7
13.1
22.3
25.4
11.1
17.1
18.5
25.1
25.7
20.5
22.1
199
469
245
614
1
211
653
(3)
220
760
2
1,599
1,531
9.7
7.2
8.8
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
thous. sh. tons
Scrap
do
Pig iron
- - - do
7,062
10 365
310
2,827
6,256
34
286
794
3
Imports:
Steel mill products
Scrap
Pig iron
13, 364
18, 304
1,780
.
_ do
do
do
346
266
325
320
37
54
49, 169
33, 987
82, 567
8,494
33.19
36.80
172
373
1
1,437
248
284
1,472
28
18
27
24
3,201
2,419
5,624
7, 898
3,498
2,821
5,966
8,260
31.78
36.00
31.53
35.00
397
494
3
208
332
1
221
519
2
261
588
1
1,336
1,093
1,129
1 095
(3)
31
54
30
5
930
26
34
1,603
3 795
2*926
6 950
8 251
3 949
2,938
6,913
8 219
4 383
3,637
7,967
g 310
4,480
3,415
7,942
8 293
4 545
3 477
8,062
8 230
4,342 r3 905
3,301 ' 2 659
7,509 '6,374
8,373 '8 642
31.03
36.00
32.84
38.00
33.66
36.00
32.74
35.50
33.68
37.00
33.36
36.00
31
35
29
7
3, 420
2,490
5,822
8,357
3,557
2,391
6,023
8,298
29.70
34.00
28.93
33.00
48
62
27
71
34
78
301
595
(3)
1,787
24
43
304
611
(3)
1,570
31
68
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)...
$ perlg. ton..
Pittsburgh district
do_—
4
4
4
52, 575
34, 148
85, 559
7,668
40.72
42.00
4
4
4
4
r
l
Revised.
*> Preliminary.
Beginning Jan. 1971, data reflect changes in size specifications, and are not comparable with those for earlier periods.
2 Series discontinued.
34.24
38.50
p4 233
» 2,943p 7 ,050
p8 776
35.68
40.50
35.76
40.50
3
4
Less than 500 tons.
Annual data: monthly revisions are not available,
include data for types of lumber not shown separately.
36.62
38.50
9 Total
November 1972
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
Annual
1972
1971
1971
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
June
May
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
89,760 i 80, 762
88,011 i 77, 692
44, 876
40, 124
8,325
9,001
2,920
6,309
7 969
3 166
5,507
5,989
3,220
5,360
3 891
2 161
4,585
2 037
1 317
4 586
1 649
1 701
5,051
1 749
1,732
5,933
2,972
1,775
7,677
9 302
3,357
7,448
9,240
4,191
7,101
9,442
3,336
7,886
10,535
4,141
3,257
8,355
7,130
119
5,879
8,006
163
3,479
8,668
20
3,190
9, 001
14
4,188
10, 505
149
5,069
10, 482
56
12, 069
10, 802
94
12, 676
9,901
239
12, 205
9, 785
289
13, 581
9,933
329
12, 541
9,632
325
983
398
640
945
79, 130
15, 942
59, 865
3,323
78, 714
17 552
57 738
3,424
75, 822
20 130
52, 550
3,142
723
156
730
837
68, 719
26 481
40 412
1,826
65, 554 65, 138 66, 298
29, 414 27 790 25, 952
34 999 36 247 39, 022
1 141 1 101 1,324
66, 697
23, 645
41, 424
1,628
67 ,669
21 ,022
45, 071
1,576
47, 980
1,945
72
78
97
88
U.S. and foreign ores and ore agglomerates:
125, 107
Receipts at iron and steel plants
__ do
123,261
Consumption at iron and steel plants
do
5,494
Exports
-_
_ __ _ _ _ __do . -
114, 051
108, 966
3,061
11, 695
6,902
203
10, 144
7 388
281
i 71,500
i 15,316
52, 781
3,403
78, 714
17, 552
57, 738
3,424
76, 205
17 945
55,884
2,376
77
16
58
2
990
1,019
99
40
41
102
104
92
87
65
52
91, 435
81 299
190, 797 i 81, 178
2,082 i 1, 779
5,148
5,146
1,886
5 532
5 473
1 829
5,350
5,384
1,801
5 930
5 901
l'777
6 617
6,584
1,783
6 598
6 379
1 742
7 708
7,599
1,732
7 726
7 629
1,666
8,012
7,965
1,676
7 321 7 385
7,427
7,374 ' 7 ,153 p7 ,362
1,688 ' 1 ,827 *>1 ,831
7,116
76.03
75.83
77.00
77.70
78.33
79. 50
77.70
78 33
79 50
77.70
78.33
79.50
77.70
78.33
79 50
77.70
78.33
79.50
77.70
78.33
79 50
77.70
78.33
79.50
77.70
78.33
79 50
81.70
80.88
83.25
81.70
80.88
83.25
81.70
80.88
888
835
13, 945 ' 13, 839
8 173 ' 7, 606
'761
1,111
600
' 790
1 174
640
'817
1,098
595
'995
'843
835
' 879 '951
' 965 '984
1 014 ' 1, 205 ' 1 209' 1, 329 ' 1 331' 1, 392 ' 1, 363
r
610
'764
'595
'691
548
' 725 '762
Stocks, total, end of period.
At mines
At furnace yards
At U.S. docks.
_-
- __do
do
do
- - do
M anganese (mn . content) , general imports
do
72
23
46
2
Pig Iron and Iron Products
Pig iron:
Production (excluding production of ferroalloys)
thous sh. tons
Consumption
~
do
Stocks, end of period- -. _ . __
. do_.
Prices:
Composite
$ perlg. ton__
Basic (furnace)
_ _ _ _
do_ _
Foundry, No. 2, Northern
do
Castings, gray iron:
Orders, unfilled, for sale, end of period
thous. sb. 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
69.33
69.26
70.33
81.70
80.88
81.70
80.88
83.25
83 25
1,249
1,250
727
1 019
1,027
629
88
882
506
82
74
46
80
79
46
84
72
40
88
70
42
79
77
42
87
80
45
86
86
49
81
81
45
76
82
49
75
83
54
88
65
45
88
78
48
1 131,514 1 120, 443
103.4
94 7
7,678
73.4
8,211
76 0
8,053
77.0
8,784
81.3
10, 001
92.6
9,980
98.7
11, 588
107.3
11,588
110.8
11,937
110 5
10,980
105.0
10, 341
95 7
10, 842
100.4
293
132
108
278
129
103
261
114
92
281
129
104
300
121
99
304
132
109
317
149
123
298
132
106
267
137
111
291
151
124
271
102
85
295
118
97
4,522
5,183
5,791
6,104
6,588
6,649
7,927
7,622
8,121
7,971
6,875
7,805
7,929
354
313
395
89
371
351
450
95
387
352
430
100
385
384
492
135
323
347
538
131
322
378
547
140
417
491
641
158
387
462
618
153
412
479
645
155
430
456
615
137
357
451
541
106
395
488
609
108
455
481
646
115
14, 156
8,179
4,521
1,378
7,574
2,791
6,811
35, 574
11, 760
14, 898
810
354
336
82
428
170
328
1,634
562
569
888
471
319
91
440
202
361
2,026
744
728
903
505
296
95
470
198
576
2,375
825
945
940
552
287
95
489
195
476
2,609
920
1,034
1,091
642
272
170
450
202
410
3,096
978
1,454
1,113
689
294
123
526
214
462
2,946
1,030
1,188
1,393
850
387
148
709
257
533
3,327
1,161
1,324
1,296
770
381
138
652
254
521
3,280
1,142
1,331
1,405
826
423
148
699
261
600
3,463
1,183
1,437
1,345
791
399
147
671
289
642
3,387
1,166
1,361
1,132
654
352
120
582
210
526
2,971
1,095
1,142
1,339
775
419
139
664
258
577
3,367
1,209
1,306
1,335
791
395
142
649
263
491
3,493
1,277
1,365
do
do
do
do
117 678 i 16 184
110, 565 i 9, 541
i 4, 440 i 4, 946
114,475 117,483
3,480
2,117
1,035
2,637
3,392
1,710
952
2,940
4,022
2,062
1, 101
4,481
4 807
2, 443
1,298
4,641
2 12 495
761
2420
2 1, 257
1 577
2869
2
450
2
1, 502
Rail transportation
do
Machinery, industrial equip tools
do
Containers, packaging ship materials do
Other
"""do
3,004
4,903
7,212
i 23, 765
556
873
1,638
5,051
567
885
1,427
5,205
730
1,202
1,533
6,031
682
2153
2
380
1 377
2
563
1,876
6,589 2 1, 847
2
179
2
470
2
10.0
67.6
67.0
13.1
4.1
5.6
78
852
521
81.70
Steel, Raw and Semifinished
Steel (raw):
Production
_ _
thous. sh. tons
Index
daily average 1967 — 100
Steel castings:
Orders, unfilled, for sale, end of period
thous. sh. tons
Shipments, total
do
For sale, total
do
321
1,724
1,416
281
1,587
1, 290
10 913 "11
644
104 4 P107 8
Steel Mill Products
Steel products, net shipments:
Total (all grades)
__
thous. sh. tons . 1 90, 798 i 87, 038
By product:
4,962
Semifinished products
_
do
7,387
5,666
6,060
Structural shapes (heavy), steel piling
do
7,939
Plates
do
8,065
1, 564
1,590
Rails and accessories
do
Bars and tool steel total
Bars: Hot rolled (incl. light shapes)
Reinforcing
Cold
finishedPipe 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
Contractors' products
Automotive
do
do
do
do
do
do
do
do
do
do
14 577
8,107
4,891
1,490
7,778
2,998
7,243
35, 101
12, 319
14, 250
i 3, 098
5 169
i 7, 775
127, 598
1
c
Steel mill products, inventories, end of period:
Consumers' (manufacturers only) mil sh tons
Receipts during period
_
do
Consumption during period
do
9.4
67.1
67.5
Service centers (warehouses)
do
Producing mills:
In process (ingots, semifinished, etc.)
do
Finished (sheets, plates, bars, pipe, etc.). do
7.2
7.5
7.5
7.2
7.2
7.5
7.1
6.9
7.1
7.3
12.8
10.5
10.7
9.0
10.8
8.6
11.1
9.0
10.9
9.0
10.7
9.0
11.3
9.2
11.2
9.6
11.2
9.7
11.5
10.0
.1129
.1129
.1129
.1014
.1089
Steel (carbon), finished, composite price. _.$ per lb_.
••Revised. 2 ? Preliminary.
i Annual
data;
monthly
or
quarterly
revisions
are
not
c
available.
For month shown.
Corrected.
.1134
.1171
.1180
.1191
.1191
.1191
11.6
3.9
5.4
10.6
4.3
5.3
10.0
4.3
4.9
10.0
5.3
5.3
9.5
5.1
5.6
9.1
5.7
6.1
9.0
5.8
5.9
8.9
6.0
6.1
2
2
613
2, 145
2
2
12 565
820
2
459
1, 590
2
225
2
480
2
2
525
2, 266
8.9
5.8
5.8
9.2
4.9
4.6
7.1
7.0
r 7 4
7.5
11.9
10.1
11.8
10.0
11.9
10.2
11.9
10.0
11.6
10.0
.1191
.1191
.1191
.1191
9.1
5.6
5.7
9.0
5.9
6.0
.1191
SURVEY OF CURRENT BUSINESS
November 1#72
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
1971
1971
Sept.
Annual
S-33
Oct.
1972
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
Recovery from scrap (aluminum content) do
Imports (general):
Metal and alloys, crude
Plates, sheets, etc
Exports:
Metal and alloys, crude
Plates sheets bars etc.*
-
-
325.8
329.0
65.0
314.2
72.0
324.5
77.0
75.0
326.1
77.0
313.6
85.0
336.2
330.8
87.0
92.0
560.4
43.7
31.5
24.0
48.5
5.5
46.8
10.7
43.9
70.0
6.9
346.4
339.9
348.5
94.0
91.0
78.0
349.0
87.0
55.0
73.4
6.1
6.4
66.3
44.8
5.9
39.2
7.5
52.2
5.0
do_ - do_ -
350.2
78.7
71.0
7.4
4.2
do
do
408.5
112.3
149.0
12.6
18.9
4.0
7.8
12.6
13.4
14.4
6.7
6.4
7.5
8.4
15.1
3.5
146.0
12.1
12.3
12.0
7.7
13.5
13.7
11.6
7.3
9.7
9.1
11.9
.2872
. 2900
.2900
.2900
.2900
.2900
.2900
.2900
.2900
.2900
.2636
.2500
.2500
.2500
.2500
9, 952. 5
7, 358. 0
3, 688. 6
1, 506. 5
10,258.2
878.0
674.4
342.6
779.5
620.6
297.8
786.7
843.3
303.5
863.3
670.3
913.1
713.7
1,017.4
796.9
134.2
143.4
138.1
629.1
320.1
135.5
5,029
4,774
4,881
4,992
5,029
1,522.2
1,591.8
115.1
103.1
90.9
12.1
29.8
135.3
138.6
124.3
14.3
37.0
136.8
145.9
130.6
15.3
35.9
365.8
Price, primary ingot, 99.5% minimum.-.$ per lb..
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.)
Mill products, total
Sheet and plate
Castings
3, 976. 1 3, 925. 2
852.0
1940.0
mil. Ib
do. __
do
do
Inventories, total (ingot, mill prod., and scrap),
4,387
end of period
mil Ib
Copper:
Production:
Mine, recoverable copper
thous. sh. tons _ 1,719.7
1, 765. 1
Refinery primary
do
1, 521. 2
From domestic ores
do
243.9
From foreign ores
_
_ do. _
475.0
Secondary recovered as refined
do
Imports (general) :
Refined, unrefined, scrap (copper cont.)..do
Refined
_ _ _ do. _
Exports:
Refined and scrap
do
Refined
do _
7, 846. 2
3, 976. 4
1, 577. 2
1, 410. 5
181.3
371.0
3.1
7.7
618.1
5.3
9.0
7.7
152.6
410.3
162.3
945.9 1, 064. 5 1,047.5 ' 881. 6 1,007.0
818.1
732.4
840.8 "•726.0
800.6
376.4 416.8 440.0 r' 388.1 407.3
165.8
157.5
160.3
149.6
117. 8
5,053
5,038
5,004
4,980
4,915
4,871
' 4, 919
4,879
134.9
149.7
137.5
12.2
31.4
130. 2
141.2
127.1
14.1
139.0
146.3
133.5
12.9
147.4
173. 7
152.3
21.4
4
100
140.7
153.5
139.5
14.0
144.8
164.4
149.4
15.0
137.7
159.4
143.5
15.9
4
96
' 115. 2
128. 2
114.1
14.1
135.5
142.0
129. 4
12.6
354.1
149.3
369.9
162.1
41.5
20.2
21.3
15.5
18.2
13.4
49.2
17.8
29.0
12.6
26. 2
132.1
8.6
38.9
16.1
29.9
10.5
33.5
13.6
35.9
25.1
44.7
14.1
35.6
18.5
36.3
14.0
348.9
222.0
283.0
16.4
10.4
7.4
4.1
15.6
29.4
20.8
18.8
10.5
34.8
26.6
33.1
22.8
26.7
20.2
20.8
14.4
19.2
12.9
17.9
11.0
18.3
11.1
20.8
12.8
i 2, 042
Consumption refined (by mills etc )
do
i 348. 0
Stocks refined end of period
do
i 187. 0
Fabricators'
do
Price, electrolytic (wirebars), dom., delivered
2.583
$ per lb._
Copper-base mill and foundry products, shipments
(quarterly total) :
2,513
Brass mill products
mil. Ib _
2,329
Copper wire mill products (copper cont ) do
751
Brass and bronze foundry products
do. . _
2,014
.5063
. 5061
.5061
Lead:
Production:
Mine, recoverable lead
thous. sh. tons _
Recovered from scrap (lead cont.)
do
Imports (general), ore (lead cont.), metal.. .do
Consumption, total
do
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content), ABMS_
thous. sh. tons__
Refiners' (primary), refined and antimonial
(lead content) __ _
thous. sh. tons
Consumers' (lead content) cf
do
Scrap (lead-base, purchased), all smelters
(gross weight)
thous. sh. tonsPrice, common grade A
$perlb-_
394.2
187.7
174.6
167.2
143.6
142. 1
154.0
2. 5201
.5289
.5284
.5224
2,711
641
557
166
277.4
174.4
2,354
751
578.6
571.8
i 597. 4
572. 7
357.1
1, 360. 6
151.9
224.4
242.8
260.7
155.1
174.4
.5032
4
*523
289
165
277.4
.5032
.5061
669
584
171
.5257
602
272
143
.5257
.5257
.5257
48.7
51.6
49.3
50.6
56.1
46.0
48.8
45.3
53.3
41.8
55.7
54.2
52.2
51.9
54.2
55.0
51.2
50.4
•r 52. 5
48.9
56.8
49.6
1,431. 5
261.7
24.4
130.6
18.6
127.8
20.7
121.1
23.5
117.3
26.6
115.5
18.9
116.7
42.5
125.5
22.5
116.5
30.5
124.6
51.8
122.9
17.1
91.0
22.9
123.4
179.4
154.7
165.9
158.9
153.3
154.7
141.0
145.4
151.1
155.9
153.2
158.6
159.1
161.4
97.9
U33.5
51.8
118.7
63.1
122.8
57. 1
114.1
48.2
116.9
51.8
118.7
57.9
122.7
50.2
121.5
37.8
133.5
29. 0
133.4
35.9
132.1
40. 3
135.3
55 3
142.6
67.5
128. 6
173.3
.1562
72.1
.1380
63.7
.1412
66.3
.1416
64.6
.1388
72.1
.1402
74.2
.1400
74.8
.1460
71.1
.1550
69.2
.1557
64.2
.1560
66.6
.1550
62 8
.1550
65.2
.1541
.1500
597
920
If 858
1,680
0
3, 180
1,595
0
5,414
1,485
197
4,971
1,665
469
5, 975
1,710
441
3,019
1,815
3,793
6,248
322
1,072
0
3,406
529
2,105
275
5,750
0
4,701
1,770
6,150
3,060
4,667
Ig. tons__
do
i 20, 001 i 17, 973
do
i 2, 574 i 2, 870
__do
-do _ i 73,837 i 69,950
do. __ i 53,027 152,415
2,306
4, 966
Exports, incl. reexports (metal) ... _
-do
9,804
Stocks, pig (industrial), end of period.
-do- __ 11, 318
1.
6734
Price, pig, Straits (N.Y.), prompt
$ perlb.. 1. 7414
1,685
260
5,870
4,455
4,465
400
10,905
1.6729
250
5,910
265
5,800
260
5,610
205
5,370
250
5,470
225
6,190
0
1,650
4,155
3,920
4,125
4,100
4,605
19
9,025
1.6770
9
8,520
1. 7539
23
9,804
1. 7436
51
12, 005
1. 7131
86
12,670
1.7200
11, 247
1. 7981
10, 630
118
4,410
191
1.8198
1,655
270
4,690
235
12, 535
1. 7792
2,842
1 410
245
220
5,985 r 5 260
4,660 r 4 130
42
95
162
11,240 r n 235 12, 195
1. 7503 1.7661 1.7912
i 491. 4
38.2
40.1
40.8
39.3
37.8
39.8
45.6
41.5
43.7
41.8
37. 3
41.4
525.8
270.4
342.6
319.6
24.0
41.7
23.8
17.6
20.3
25.5
27.7
43.4
33.2
27.3
31.0
31.3
23.4
53.5
29.9
24.7
24.6
39.0
24.9
59.8
14 7
44 9
8.9
40.6
Consumption (recoverable zinc content):
Ores
_do _ _ _ 1 124. 8
Scrap, a l l types
_ _ _ _ _ _ _ _ _do_ __ i 259. 9
U19.3
15.7
20.7
7.5
21.6
10.1
21.0
11.2
20.5
11.3
20.5
11.6
21.1
12.8
21.1
13.1
20.9
11.8
22.1
12.2
22 3
11 2
21 3
8.5
22.2
60 7
59
126 0
57 2
5 7
122 1
63 1
5 7
128 3
64 3
4 9
121 7
59 5
38
97 9
56 3
58
125 4
_
do
do
1277.4
Slab zinc:
Production (primary smelter), from domestic
1877.8 1.772.9
45.7
61.2
61.4
and foreign ores
thous sh. tons
5.7
177.2
74.5
6.3
5.9
Secondary (redistilled) production
do
104.6
100.5
Consumption, fabricators.
do _. 1 1, 187. 0 1 1,254. 1 101.2
3
0
.1
.3
13.3
Exports
_ _
_ ...do
()
Stocks, end of period:
51.1
56.9
141.3
52.9
Producers', at smelter (ZI)O
do. _- 198.3
94.6
189.6
1104.3
91.3
97.1
Consumers'
_
-do_ __
. 1532
.1700
.1613
.1700
.1700
Price, Prime Western
$perlb_r
Revised.
v Preliminary.3
i Annual data; monthly
revisions are not available.
2
4
Average for 11 months.
Less than 50 tons.
For quarter ending in month shown.
* New series.
64.5
62.0
56.2
105. 8
106.6
113.4
5.9
(3)
6.0
.7
5.6
.6
1.5
1.3
o
(3)
r
o
38.4
.1467
5, 660
4,335
1534.1
thous. sh. tons__
.5061
816
678
212
705
642
196
51.0
49.1
Tin:
Imports (for consumption) :
Ore (tin content)
Metal, unwrought, unalloyed
Recovery from scrap, total (tin cont.)
As metal.
___•
Consumption, total. .
__
Primary
Zlnc:
Mine prod., recoverable zinc
Imports (general) :
Ores (zinc content)
Metal (slab, blocks)
9.4
.2500
(3)
145
1. 8199
1. 8040
16.2
56.5
(3)
31.2
28 0
23 5
26 7
125 0 135. 2
.1800
.1800
.1800 .1800
AEffective Dec. 1971, nationwide delivered price substituted for N. Y.-basis price.
^Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap.
O Producers' stocks elsewhere, end of Oct. 1972, 9,500 short tons.
50.6
98.4
.1700
50.5
95.0
.1700
37.8
92.0
.1700
29.4
97 6
.1730
23 4
93 2
.1774
21 2
96 9
.1787
21 3
111 4
.1800
SURVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
1971
November 1972
1972
1971
Annual
Sept.
Oct.
Dec.
Nov.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
METALS AND MANUFACTURES—Continued
MACHINERY AND EQUIPMENT
Foundry equipment (new), new orders, net
mo. avg. shipments 1 967= 100. . 155.6
Heating, combustion, atmosphere equipment, new
!88.5
orders (domestic) net qtrly
mil. $
Electric processing heating equip
do
J 1 50. 9 {(
Fuel-fired processing heating equip
do
Material handling equipment (industrial) :
Orders (new), index, seas, adjt- 1967=100.Industrial trucks (electric), shipments:
Hand (motorized)
number
Rider-type
do
Industrial trucks and tractors (internal combustion
engines), shipments
number
Industrial supplies, machinery and equipment:
New orders index, seas, adjusted* 1967-69=100
Industrial suppliers distribution:
Sales index seas adjusted*
1967=100
Machine tools:
Metal cutting type tools:
Orders new (net) total
mil $
Domestic
do
Shipments, total
do
Domestic
_
_do •_••__
Order backlog, end of period
do
Metal forming type tools:
Orders new (net), total
Domestic
Shipments total
Domestic
Order backlog, end of period
do
do
do
do
do
84.2
48.4
63.7
7.5
30.3
14.1
1.8
5.9
79.5
117.6
69.1
72.9
70.5
90.8
78.0
62.1
67.0
16.2
2.5
7.4
14.4
2.2
5.9
54.6
58 4
23 8
4.0
12.8
90.0
18 3
29
9 7
103.3
99.6
110.8
85.6
111.7
108.4
111.6
116.0
114.9
107.6
112.6
125.9
129 8
158 8
13, 816
14, 811
12,644
14, 621
1,112
1,299
1,211
1,509
953
1,229
1,198
1,451
1,004
1,128
1,093
1,205
1,297
1,404
1,253
1,279
1,250
1,314
1,283
1 ,685
1 102
1 282
1 312
1*385
1 619
1,544
41, 194
49, 289
4,209
4,838
3,900
4,771
2,764
3,022
3,282
3,281
3,265
3 940
2 788
2 940
3 832
101.0
102.6
106.5
105.2
104.3
106.7
107.2
105.8
308.0
112.8
117.5
120.1
119 9
123 5
127 3
105.9
104.7
110.1
102.4
112.0
117.2
108.0
114.2
119.4
112.8
120.9
119 5
112 6
127 2
121 5
651. 30
506. 75
992. 90827. 35
470.7
608. 75
524.10
672. 30
554. 20
407.5
49 85
44.15
58.90
47.40
396.4
45.00
41.75
47.90
38.75
393.5
55 45
50.80
41.70
35.45
407.3
70.80
62.75
70.65
62.60
407.5
51.15
47.95
39.60
33.65
419.0
60 80
55.25
46.40
40.10
433.4
95.70
77.35
56.75
48.15
472.4
66.70
57. 20
49.55
44.40
489.6
80.45
69.90
57.15
48.25
512.9
75 00
66 70
70 05
63 00
517 8
78 60
64 65
47 80
42 25
548 6
261. 25
226. 60
450. 15
411. 60
234.8
252. 40
223. 20
325 60
285. 60
161.8
25.40
24.60
21 90
18.65
185.8
21.05
16.25
27 30
20 75
179 6
22 60
18 45
26 40
20 00
175 8
20 75
19 95
34 80
32 40
161 8
19.60
17.95
16 35
13 70
165 0
24 95
21 80
22 70
19 30
167 3
23.40
21.75
33 50
28.85
157.2
27.65
26.50
26 35
21.95
158.5
29 75
26 00
23 65
21 50
164 6
40.10
38.45
33 85
30.45
170.8
25.80 r 31 35
22.90 r 29 70
24 60 r 19 30
22.65 rT 17 25
172.0
184. 0
Tractors used in construction:
Tracklaying, total
1
19, 436 1 18, 520 4 051
units
mil. $.. 1464.6 * 479. 6
109.2
Wheel (contractors' off -highway)
units. _ 15,099
1 4, 334 2 2908
1
170.
5
mil. $
33.2
1 166 9
Tractor shovel loaders (integral units only), wheel
and tracklaying types
_. _.
units.". i 124, 622 1127, 145 6,295
156.1
mil. $
581. 1
640 9
Tractors, wheel (excl. garden and contractors' off- 1
175,309
41,
526
highway types) _
units
iieS,
343
212.2
mil. $.. 1 847. 0 i 891. 9
5,682 3 1, 655
153.2 344.8
1,707
69.2
5,795
157.9
1,021
2
32.1
124.2
r
77 60 P 96 75
P 76 50
r 69 45
r 43 45 P 68 95
r 44 05 P 61 70
r 577 g P 605 6
3
f 42.25
v 38.05
v 19.95
v 18.10
v 206.3
1,653
346.3
4 155
99.0
2
687
2
25 9
2
6 498
139 9
11, 938
202 5
12,037
214.1
43 482
246.2
52, 993
313.1
52, 571 311,026 3 12, 526
310.5 366.8
380.9
ELECTRICAL EQUIPMENT
Batteries (auto, replacement), shipments
thous..
Electronic components, factory sales:
Semiconductors:
Discrete devices
mil. $_.
Integrated circuits
do
Tubes, selected power and spec, purpose do
Microwave
do
Electro-optical
do
High vacuum, gas, and vapor
do
Capacitors
do
Motors and generators:
New orders, index, qtrly
1967=100
37, 863
Radio sets, total, production
thous
Television sets (incl. combination) , prod .__ do __
16 406
9,483
Household electrical appliances, factory sales:
Air conditioners (room),.
thous
Di shwashers*.
do
Disposers (food waste)*
do
R anges
do
Refrigerators.. .
do
Washers
.
do
Dryers (incl. gas)
do
Vacuum cleaners. . _
do
39, 144
1769
524
*335
144
1
91
180
483
*621
534
300
124
!80
!76
435
1
98.3
5 886
2 116
1 976
2 362
5*286
4 093
2 981
7 382
4,310
4,264
4,160
3,804
3,654
2,826
2,249
2,558
2,794
56.5
50.7
60.1
27.8
14.7
17.6
38.8
52.8
46.4
51.7
47 5
53.8
47 9
54 4
52 7
60 3
57 3
67.5
60.3
34 5
33 5
33 4
63.7
57.9
77.0
34.6
22 0
20.4
38.9
60.7
56 9
37.4
56.7
51 7
71 0
32 0
18 3
20.7
39.5
35.5
34 8
85.5
87.0
18 579
ll' 197
4,402
4
4
1 843
1' 195
1 725
*912
1 535
*941
5 438
118.2
2 477
220 9
2*291 239.2
2 714 r 226 7
5*691 507.8
1
4* 608 495.0
3*377 370 0
7 973 827.5
120.8
299 9
219 0
286 3
550 0
446.2
385 3
825 7
197.1
223 0
262.8
1
4
4
4
4
280.6
236 1
210.7
269 3
637.4
406.9
272 2
498.1
129 7
293 8
250 3
297 4
629 2
505. 1
375 1
689 5
82 1
288 8
267 2
278 5
521 5
466 7
392 2
727 7
153.4
221 2
251.0
165.5
238 5
244.1
156.3 r 182. 7
169 4 r 238 7
240.8 r 248. 5
193.1
251 7
243. 8
704.2
263 2
210.7
274 3
515 5
373.7
248 8
634.1
159.8
210 9
293.8
170.6
261 6
304.2
169.8
211 2
27&0
476.3
206 4
201 6
244 1
428 8
412 8
347 4
748 8
158.3
213 7
230.2
147.5
215 0
224.5
161.7
181 9
267.4
4
4
407.5
262.9
243.8
243 0
563.0
408.7
255 1
583.5
611.9
242 6
259 3
245 2
471 9
425 0
304 3
743.1
320.8
200 4
199 8
232 2
406 5
366 3
315 8
623 8
39 2
681 2
268 8
210 9
273 5
583 6
408 8
263 1
599 7
541 9
227 9
212 2
238 3
446 2
381 5
304 6
884.7
258 6
266 5
228 2
260 8
477 5
409 2
354 7
712 7
34.7
1 543 44 2 194
963
1, 451
1 420
995
1 336
*956
32.3
1,314
793
1 616
1,012
1 276
1* 002
4,157
1 ,954
1 ,312
1 857
1, 286
1 928
1* 184
4,086
pl03. 5
85.5
86 5
37.7
3,178
1 786
1,184
GAS EQUIPMENT (RESIDENTIAL)
Furnaces, gravity and forced-air, shipments* thous. _
Ranges, total, sales* .
do
Water heaters (storage), automatic, sales*
do
1, 471
2 362
2,785
1,795
2 549
3*,088
187.9
254 2
235.8
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production
_
_ _ _ _ thous. sh. tons.. 19,481 ' 8, 713
654
596
518
767
708
683
558
467
676
445
'585
*>628
493
659
Exports. _
_
do
25
105
671
789
66
17
36
29
64
26
77
87
31
49
141
Price, wholesale, chestnut, f.o.b. car at mine
$ per sh. ton.. 16. 565 17. 673 17.444 17.346 17.346 17. 346 17. 738 17. 738 17.738 17. 738 17.738 17.738 17. 738 18. 130 19. 110 19. 110
Bituminous:
Production
...thous. sh. tons.. 602,932 i 548,000 54,449 '11,857 26, 133 55,599 47,520 46,325 51,040 49, 840 53,020 49,565 40, 210 51, 265 48, 435 50, 370
' Revised.
P Preliminary.
1 Annual data; monthly or quarterly revisions are not
Supply & Machinery Mfrs. Assn.), based on 2-month moving average of selected members'
available.
2 Excludes
figures for rubber-tired dozers (included for other periods).
3 F0r
new orders, is also adjusted for number of working days. Sales index (National and Southern
4
month shown.
Data cover 5 weeks; other periods, 4 weeks.
Industrial Distributors Assns.) is based on selected panel of members' operations which cover
JEffective with the Apr. 1972 SURVEY, index reflects new seasonal factors. Revisions for
national sales for maintenance, repair, and operations for all types of industries. Dishwashers
1969-71 appear at bottom of p. S-34 of the Apr. 1972 SURVEY.
and disposers (Assn. of Home Appliance Mfrs.) and gas equipment (Gas Appliance Mfrs.
*New series. Industrial supplies (marketed through distributors)—orders index (American
Assn.) reflect total industry sales. Monthly data prior to 1971 are available upon request.
SURVEY OF CURRENT BUSINESS
November 1972
1970
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
S-35
1971
1971
Annual
Sept.
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
40, 995
26, 648
7, 639
40, 599
27, 600
12, 620
7,210
430
356
July
Aug.
Sept.
Oct.
PETROLEUM, COAL, AND PRODUCTS—Continued
COAL— Continued
Bituminous— Continued
Industrial consumption and retail deliveries,
2
total?
thous. sh. tons _ ^517,158 2 494,873
Electric power utilities
do__ _ 4 320,460 326,280
4 184,328 22 157,035
Mfg and mining industries, total_ _ _ __do.
* 96,009 82, 820
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__ _
Exports
do_ _„
Prices, wholesale:
Screenings, indust. use, f.o.b. mine
$per sh. ton__
Domestic large sizes, f o b mine
do
4
12,072
92, 275
71, 295
(3)
8,924
2
38, 313
27, 051
10, 281
5,817
36, 379
25, 167
9,971
36, 417
25, 944
9,150
11, 351
950
1,224
94, 021
76, 987
18, 759
7,199
97, 457
74, 946
11, 818
(3)
86,360
(3)
7,988
3
3
3
275
(3)
3
()
5,699
11,087
44, 399
30, 074
12, 572
44, 224
28, 261
14, 967
6,152
6,872
43, 558
28, 732
13, 490
7,458
14,337
7,423
1,315
1,443
1,753
1,336
995
540
(3)
94, 021
76, 987
15, 759
7,199
92, 908
75, 788
16, 730
93, 356
75, 813
17, 168
8,118
4,679
3
()
5,381
()
()
(3)
40, 832
28, 294
7,850
6,775
40, 796
25, 908
13,897
97, 855 103, 702 110, 597 114,493
78. 980 83,689 90, 493 95, 330
18, 545 19,703 19,764 18, 873
8,560 9,343 10,014 10, 138
390
375
330
310
340
290
70,908
56, 633
6,766
3,450
1,318
4,204
3,660
3,631
4,624
4,915
5,416
4,882
3,627
6 337
4 923
7.641
9.696
11.209
9. 719
10. 890
9.719
10. 940
10.940
9.719
10. 131
11. 388
10. 266
10. 266
11. 446
10. 266
11. 446
10. 146
11. 120
10. 146
11. 120
10. 146
11 120
10. 146
11 120
10, 146
11 190
10.426
9
2730
54
3,976
32
3,220
56
4,200
49
4,763
53
1,783
1,853
1,898
51
5,076
3,596
3,483
113
3,510
3,385
125
3,585
3,446
139
3,611
1,489
1,610
()
9,647
COKE
Production:
^871
Beehive
thous. sh. tons.
4 65, 654
Oven (byproduct)_ __
_
do
4 21, 574
Petroleum coke§
__
__do
Stocks, end of period:
4, 113
Oven-coke plants, total _ _ _ _ . . ... do
4,018
At furnace plants. _
_do
95
At merchant plants
_
_ _
_ do
1. 059
Petroleum coke.
.
_
do
2,514
Exports
do
56, 664
21, 823
3,510
3,385
125
1,489
1,509
1,787
38
3,961
1,853
4,070
3,939
131
4, 143
1,900
1,793
136
4,000
143
92
1,584
275
36
42
967
1,330
3.41
351. 5
11.446
68
4,651
1,883
55
1,912
5,091
1,770
3,323
3,111
51
5,236
1,813
53
49
5 024
1,884
5 088
2 239
2,900
211
3,022
2,795
227
2 907
3 089
3 185
2 831
1,760
1,601
1,549
77
95
1,537
63
1,589
1 661
1 613
965
1 210
3.41
351.8
3.41
184
151
2,643
263
2,748
340
107
76
1 049
3.41
355 3
3.41
368 5
10, 443
11 120
54
4 976
1,821
3,139
3,466
146
11 1 0
355
74
130
833
Q4fi
1 065
3.51
89
3.51
369 4
89 4
PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed
Price at wells (Oklahoma)
Runs to stills
Refinery operating ratio
number 2 13, 020
3.23
$ per bbl__
3, 967. 5
mil. bbl
_% of capacity
490
All oils, supply, demand, and stocks:
New supply, totaled
Production:
Crude petroleum
_ _
Natural-gas plant liquids
Imports:
Crude and unfinished oils.. __
Refined products
_
11, 804
3.41
4, 087. 8
959
3.41
921
3.41
86
334.0
85
345.5
85
mil. bbl. 4 5,377.7
5,532. 7
447.6
4 3,517.4
3,478.2
2
276.0
522.6
__do
_do
612.2
623. 9
3.41
3S3 6
807
3.41
353.1
3.41
85
460.7
455 6
497. 4
483.3
461.2
498.0
468.2
487.9
474 0
484 5
487 5
286.0
284.0
52.8
276 0
51 2
282.6
56.1
52.9
269.9
294.3
285.7
55.2
54.1
287 6
52 4
294 1
54 1
9Q/1 Q
50.8
53.4
298.4
61.4
57.5
64.0
56.3
63 4
63 8
71.3
84.1
68.9
77.1
64.5
74.2
67.3
79.0
63.7
63.6
69.5
63.2
65 6
66 0
71 0
62 7
RQ 1
-49.8
-21.8
4.3
37.8
7.2
31.8
462.2
2
454 2
464 6
454 8
0
6.2
o
o
50.9
85
4 725. 5
37.7
26.1
17.8
13.9
Demand, total
Exports:
Crude petroleum
Refined products
Domestic demand, total 9
Gasoline
Kerosene
do
4 5,332.2
5,497. 2
429.2
443. 9
476 3
525.2
512.5
512 8
519 9
5.0
do...
4 89. 5
. do____
do _ , 4 5,237.7
4 2,131.3
do
96.0
do
.5
.1
5.7
423.4
0)
5.9
438.0
0
0
6.6
0
5.2
507.3
0
4.7
0
9.0
173 2
11.8
508.1
166 9
10.7
200.4
8.8
_ __
Distillate fuel oil
Residual fuel oil
Jet fuel
do____
do ._
_ do
4 353. 0
Lubricants
Asphalt
Liquefied gases _.
..do .
do
do
4446.8
do
2, 105. 3
do
1.4
do. ..
214.3
81
65.6
59.8
32.2
85 4
77 2
30 5
113.6
87.2
32 3
115.4
87.3
31 6
120 8
92.0
33 1
3.6
4.5
19.3
35.0
17.2
39.4
38
12 2
44 2
3.9
6.4
3.8
5.7
4.1
6.1
51.8
53.7
1, 043. 9 1, 083. 5 1, 097. 4 1 075 2 1, 043. 9 1,013.9
259.6
269.8 265.9
259 6
251 0
265 6
106.8
105.9
109.8
109.2
106.8
110.3
677.5
707.8 721.7 699 4
677 5
653 8
183.6
971.3
837.9
366.6
61.2
62.2
30.3
49.4
158.5
456. 8
2
2, 202. 6
1.6
223.8
5.9
188.6
6.8
468.2
186.1
188.2
183 1
212.3
212.9
21& 6
.3
Prices (excl. aviation) :
Wholesale, ref. (Okla., group 3)
$ per gal__
.120
.119
.120
Retail (regular grade, excl. taxes), 55 cities
(1st of following mo.)
$ per gal-.252
.246
.266
Aviation gasoline:
Production
mil. bbl__
19.7
18.5
2.1
Exports
do...
.9
1.2
.2
Stocks, end of period
do
5.1
4.4
4.4
Kerosene:
Production..
do__
95.7
87.5
5.6
Stocks, end of period
do
24.4
27.8
27.8
Price, wholesale, bulk lots (N.Y. Harbor)
$ per gal. _
.126
.118
.127
f
Revised.
1
2
Less than 50 thousand barrels.
Reflects revisions not available by months.
3
Not available.
4 Corresponding monthly revisions will be shown later.
-22.2
-30.0
184 6
85
2, 213. 2
90.9
804.3
49.7
153.5
-31.3
518.6
189.3
11.3
927. 2
Stocks, end of period, total
do
1, 017. 9
Crude petroleum
. .do
276.4
106.0
Unfinished oils, natural gasoline, etc .. .do __
Refined products
_do
635.5
Refined petroleum products:
Gasoline (incl. aviation):
Production
Exports
__
Stocks, end of period.. _
81.2
355.9
86
86
do
5,415. 5
335.6
84
85
Change in stocks, all oils (decrease,—)
_
920
3.41
329.4
85
658.6
758.7
do. _
. do
923
(i)
1
196 9
1
223.8
192.6
7 2
454.9
89
6 3
6
448
208
2
KA
CK
K
7
1 9
d.ft7
a
Q
4
4
3
9
7 9
480 4
190 0
5 3
448.1
201 2
4 4
458.3
107 8
83 2
31 2
83 3
73 3
29 6
69 8
65 4
31 0
65 8
65 9
34 9
54 8
65 4
31 0
aA o
50.4
4 6
7 5
43 5
4 6
10 1
35.0
4 5
15 7
30 5
4 3
19 2
33 1
4 8
20 0
34 4
4 7
24 2
38 2
964.1
252 9
105. 6
605 5
942 3
258 9
109 8
573 6
946 6
266 6
113.6
566 4
984 4
279 5
116 3
588 6
991 6 1 023 4 1 025 3
271 4
265 8 ' OKQ fl
120 4
116 0
111 9
£>KK A
599 8
641 6
189 1
175 2
510.9
206 1
35
9
91 ft R
5
0
7ft 1
9Q °.
1
254.8
184 9
176 8
188 6
9ftfi 9
241 2^
229 5
219 2^
-^
204*3
06 7
244. 6
204 7
196 8
1
1
i
—
d\
(l)
.118
.118
.118
.118
.115
.115
.120
.120
.120
.120
.120
.120
.244
.257
.251
.255
233
238
228
236
240
235
261
OCX
1.6
1.5
.1
4.6
1.1
.1
4.4
1.6
.1
4.7
1.2
(l)
4.6
1.2
.1
4.0
1.4
4.4
0)
4.0
1.5
0)
4.1
1.4
.1
3.9
1.3
.1
3.7
1.6
(i)
3.8
7.2
28.2
7.1
26.8
8 9
24.4
8.7
21.3
6 8
17.4
7 i
15.7
59
16.4
52
17.1
50
18.6
5 7
21.5
5 Q
22.1
.127
.127
.127
.127
.127
.127
.127
.127
.127
.127
.127
(0
7Q9
3.51
.127
.120
.127
c?1 Includes small amounts of "other hydrocarbons and hydrogen refinery input " not
shown separately.
9 Includes data not shown seperately.
§ Includes nonmarketable catalyst coke.
SURVEY OF CURRENT BUSINESS
S-36
1970
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1971
Annual
November 1972
1971
Sept.
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
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 galResidual fuel oil:
Production
mil. bbl
Imports
do
Exports
do
Stocks end of period
do
Price, wholesale (Okla., No. 6)
__$ per bbl_.
897.1
53.8
.9
195.3
912.1
55.8
2.8
190.6
71.3
3.0
.1
210.1
74.8
3.7
.1
223.0
72.2
5.1
.2
214.8
78.4
11.0
.1
190.6
78.8
6.1
.1
160.1
77.0
5.9
.1
122.2
79.6
7.8
.1
101.8
74.4
5.7
.2
98.3
80.3
4.1
.1
112.9
78.8
2.9
.1
128.8
78.5
3.1
.1
155.6
80.2
2.9
(2)
174.7
.108
.116
.117
.117
.117
.117
.117
.117
.117
.117
.117
.117
.117
.117
.117
.117
257.5
557.8
19.8
54.0
2.25
274.7
577.5
13.2
59.7
2.37
19.7
43.5
.9
66.5
2.35
19.7
42.6
.9
68.5
2.35
22.3
47.1
1.2
59.9
2.35
27.6
59.5
.5
59.7
2.35
28.6
58.7
.5
59.4
2.35
27.9
55.8
.5
50.9
2.35
25.7
59.7
1.8
51.6
2.35
22.2
50.3
1.5
49.4
2.35
20. 6
'48.8
.6
53.0
2.35
19.8
49.5
.6
56.1
2.35
20.9
49.4
1.1
60.2
2.35
20.9
51.2
1.2
61.4
2.35
.235
.235
301.9
27.6
304.7
27.7
25.0
28.1
26.3
27.2
26.1
27.9
25.8
27.7
24.3
25.9
26.1
25.2
28.1
27.1
26.3
27.6
27.5
28.9
25.8
28.4
27.1
29.4
26.0
31.6
66.2
16.1
14.7
65.5
15.8
15.0
5.2
1.3
15.0
5.5
1.1
14.9
5.1
1.3
14.9
5.2
1.2
15.0
5.5
1.4
15.3
4.9
1.0
15.1
5.4
1.5
14.4
5.2
1.3
13.7
5.7
1.1
13.7
5.6
1.1
13.9
5.4
1.1
13.4
5.8
1.2
13.3
.270
.270
.270
.270
.270
.270
.270
.270
mil. bbl
do
146.7
15.8
157.0
21.2
16.2
18.1
15.0
16.5
12.8
17.6
9.8
21.2
8.2
24.1
8.1
26.6
10.0
29.2
11.4
31.0
14.9
31.0
16.0
28.6
17.1
26.4
17.5
20.7
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
525. 6
399.6
126. 0
67.0
547.9
417.6
130.2
94.7
44.4
34.3
10.1
108.1
.46.2
35.8
10.4
109.4
45.0
35.1
10.0
103.6
50.0
38.8
11.1
94.7
47.2
36.7
10.5
82.4
45.7
35.3
10.4
71.9
49.0
37.9
11. 2
72.7
47.4
36.5
10.8
79.9
48.1
36.8
11.3
92.7
46.1
35.2
10.8
101.2
48.0
36.4
11.5
109.8
48.0
36.6
11.4
114.9
Asphalt and tar products, shipments:
Asphalt roofing total
thous souares
Roll roofing and cap sheet
do
Shingles all types
do
83, 179
34,756
48,423
93,365
35,684
57, 682
9,583
3,767
5,816
9,051
3,500
5,551
7,672
2,986
4,686
6,766
2,772
3,994
260
334
848
189
374
899
14
32
80
12
36
81
13
33
71
15
29
73
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
(3)
8
8( )
3
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
Consumption
Stocks, end of period
Waste paper:
Consumption.
Stocks, end of period
thous cords (128 cu ft )
do
do
68 863
67, 562
6,594
67, 220
67, 501
6,215
5,503
5, 185
5,460
5,621
5,671
5,423
5,238
5,434
5,207
5,229
5,084
6,215
5,254
5,663
4,909
5,296
5,422
4,819
5,815
5,790
4,797
5,449
5,655
4,578
5, 457
5,732
4,305
6 042
6 079
5,504
5 706
5 742
5 481
6 031
5 927
5,651
thous. sh. tons
do
10, 594
10, 997
571
696
883
506
939
499
861
499
828
696
874
522
901
498
974
506
914
504
989
526
967
538
840
547
963
568
43 546
1,705
29, 472
2,344
43 933
1,671
29, 551
2,101
3,593
4,072
3,808
3,499
3,866
3,765
3,778
3,893
4,013
3 942
3 766
3,991
2,313
2,617
161
191
2,446
2,219
2,544
2,494
2,695
2,594
2, 688
2 665
2 569
2,685
'82
152
183
do
do
do
4,404
2,105
3,515
4,462
2,405
3,743
432
240
322
483
278
358
467
236
346
423
240
320
440
270
302
419
242
306
_
do
do
do
do
917
378
470
69
1,124
1,044
582
385
78
1,003
1,154
697
381
76
1,077
1,026
637
288
78
1,124
573
479
71
632
379
65
589
374
63
Exports, all grades, total
Dissolving and special alpha
Allother
do
do
do
3,755
1
2, 175
2,886
1
1, 385
240
95
145
112
48
161
142
52
89
235
76
159
185
73
112
Imports, all grades, total
Dissolving and special alpha
All other
do
____do
do
3, 538
13,515
WOODPULP
Production:
Total, all grades
thous sh tons
Dissolving and special alpha
do
Sulfate
do
Sulfite
do
Groundwood
Defibrated or exploded
Soda, semichem., screenings, etc
Stocks, end of period:
Total, all mills.
Pulp mills
Paper and board mills
Nonpaper mills
.
869
1
790
127
145
140
173
138
159
573
479
71
149
162
140
164
151
147
135
142
126
138
189
181
398
379
254
339
393
256
350
380
241
ooo
359
236
325
390
256
337
544
393
67
984
548
362
75
954
492
385
78
943
477
392
74
907
432
402
73
910
430
406
74
171
61
110
171
59
113
184
66
119
217
68
150
176
62
114
186
69
116
175
67
108
196
72
125
319
22
342
(3)
345
1,003
189
13,265
1
3, 202
275
22
254
262
27
289
307
15
322
298
25
274
309
15
294
300
30
270
340
24
316
325
26
300
290
24
266
309
16
293
271
6
265
310
21
331
53,329
23,409
25 465
55,092
23, 838
26 120
4,506
1,927
2,137
4,987
2,178
2,341
4,632
2,016
2,190
4,359
1,922
2,026
4,769
2,087
2,288
4,751
2,051
2 280
5,222
2,230
2,519
12
460
5,203
2,194
2 548
5,023
2,127
2,436
11
409
4,828
2,055
2 320
12
449
12
448
4 613
1*926
2 255
5,203
2,198
2 522
109.2
103.5
104.7
109.2
103 6
105.6
108.5
105 6
106.1
108.5
105.8
106.5
108.5
106 0
106.6
108.8
106 0
106.8
108.8
106 0
107.2
273
313
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census):
All grades, total, unadjusted. _ thous. sh. tons _
Paper
do
Paperboard _
do
Wet-machine board
do
Construction paper and board
do
Wholesale price indexes:
Book paper, A grade
1967=100_.
Paperboard
do
Building paper and board.*
do
r
Revised.
1
139
138
4,316
4,995
12
430
109.5
101.1
101.2
110.6
102.4
103.0
109.2
102.8
104.5
Reported annual total; revisions not allocated to the months.
11
457
109.2
102.9
104.6
10
417
10
401
109.2
102.9
104.7
109.2
102.7
104.6
10
384
109.2
102.7
104.7
2 Less than 50 thousand barrels.
Series discontinued.
3
11
442
U
421
11
472
108.8
106 5
107. 3
109.6
106.8
107.3
SURVEY OF CURRENT BUSINESS
November 1972
1970
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1972
1971
1971
Annual
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
1,240
1,220
97
115
100
115
117
112
96
88
113
100
80
114
109
81
100
103
81
102
114
92
103
106
90
101
126
106
113
108
96
112
108
99
105
125
108
117
3,163
183
3,260
3,255
287
3,250
257
287
270
289
289
285
275
279
285
257
287
277
289
249
279
281
238
272
306
261
303
270
248
271
276
264
276
288
301
261
272
305
255
296
323
297
2,396
2,476
2,643
2,550
217
203
229
220
209
210
212
208
220
221
217
211
261
241
236
232
251
238
235
232
224
216
253
233
2,869
2,873
2,936
2,945
237
247
244
253
210
235
238
236
250
251
254
247
290
280
256
257
287
276
269
271
221
247
247
283
3,714
111
3,755
3, 671
3,868
156
3,755
3,765
319
169
314
300
339
170
326
348
349
171
336
327
307
156
327
308
348
168
326
327
323
171
322
315
357
175
346
341
317
157
314
330
356
179
335
336
339
189
326
330
'301
•"164
314
358
183
345
292
8,607
8,592
236
8,297
8,210
323
692
680
387
786
760
413
758
762
409
698
784
323
725
604
445
663
619
489
685
673
501
723
727
498
735
725
508
733
753
488
699
711
475
734
721
489
694
775
407
3,310
3,303
33
3,296
3,288
' 41
254
267
85
289
280
94
285
302
76
257
292
41
289
277
53
278
266
66
290
288
68
283
275
76
303
305
74
283
287
70
275
273
72
294
298
68
260
277
51
Consumption by publishers d"
do. .
Stocks at and in transit to publishers, end of
period
thous. sh. tons
7,130
7,057
580
653
643
629
570
571
642
638
663
613
583
605
625
749
705
685
682
704
705
711
699
664
647
617
610
618
627
617
Imports
do. _ _
Price, rolls, contract, f.o.b. mill, freight allowed
or delivered
$ per sh. ton__
6,635
6,881
608
607
610
635
591
504
550
590
609
611
625
553
562
150. 50
157. 00
158. 10
158. 10
158. 10
158. 10
159. 70
161. 70
163.70
163.70
163. 70
163.70
163. 70
163. 70
163.70
163. 70
349
742
474
917
500
1,000
536
1,003
532
1,003
474
917
521
976
560
1,010
583
1,087
574
1,199
596
1,280
590
1,332
519
1,399
589
1,505
520
556
1,397
543
1,420
562
563
533
15, 858
21,482
53 23 ' 40. 86
109 09 r!02 86
36 43
38 67
55.27
112 11
50 65
39 30
.175
.175
.180
210 74 191 01 195 51
197 53 r 198 24 rri52 67
491 34 485 05 519 24
202 74
192 30
523 66
Newsprint:
Canada:
Production
Shipments from mills
Stocks at mills end of period
__do
do
-do __
United States:
Production
Shipments from mills
Stocks at mills, end of period.
do
do
do
Paperboard (American Paper Institute):
Orders, new (weekly avg.)
thous. sh. tons_.
Orders unfilled §
do
Production, total (weekly avg.)
_. do
1,245
90
1,216
80
501
494
Paper products:
Shipping containers, corrugated and solid fiber,
shipments..
mil. sq. ft. surf, area.- 185, 864
191, 832
17, 144
thous. sh. tons.. 2, 490. 0
1,225.0
2, 445. 0
1, 250. 0
208.4
109.5
Folding paper boxes
489
517
461
17, 280
16,653
15, 866
15,453
208.8
109.5
204.9
10-5. 0
216.1
109.5
204.1
105.6
528
504
r
309
r
559
552
16,302
18,358
16,579
17,676
18,939
15, 427
194. 2
101. 1
217.9
113.5
202.0
104.8
211.3
109.8
213.7
112.1
179.9
93.2
539
573
575
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
thous. Ig. tons..
Stocks, end of period
do
Imports, incl. latex and guayule
do
559. 32
102. 60
Price, wholesale, smoked sheets (N.Y.)__$ per lb_.
.218
.180
.179
.176
thous. Ig. tons.. 2,197.00
1,917.85
do
514. 78
do
2,241.00
2,104.87
488. 17
187. 02
186. 07
468. 25
do
290.06
269. 82
do
do
do
200. 56
199. 57
27.58
199. 19
200.47
22.67
_ thous.. 190,403
194, 541
do
46, 135
_ do __
do ... 146, 508
1,898
do
Synthetic rubber:
Production
;
Consumption
Stocks, end of period
.
_
Exports (Bu. of Census)
Reclaimed rubber:
Production.
Consumption. _
Stocks, end of period
.
549. 92
577. 81 , 51.38
133. 32 131. 35
612. 72
54.25
51.82
47.71
124.92 126. 36
44.68
42.07
47.99
133 32
56.40
55.31
128 01
57.89
52 66
128 03
51 72
59.12
133 22
63 95
51.91
129 71
47 62
54.06
117 04
49 79
.173
.171
.180
.178
.170
.165
.169
193. 81
190.33
462. 10
194. 90
173 34
480.28
196. 14
178.65
488. 17
199.99
18277
487.44
192 96
187 33
478 73
210 13
201 96
480. 11
208 74
190 30
492 71
35.01
14.22
9 76
15.51
26 84
26 72
20 02
16 75
19 99
18 14
20 06
22 10
16.37
17.02
23.51
16.88
17.82
21.85
15.81
15 28
22.50
15.88
16 02
22.67
15 76
16 42
21 00
17 02
16 91
21 38
19 24
17 96
21 98
17 78
16 04
22 60
18 54
16 49
26 25
16 99 r 11 28
15 87 r 11 gi
23 13 r 21 72
16 01
10 54
20 73
213, 110
18,889
19, 113
17, 134
17,589
19 074
19, 143
20 597
19 009
19 725
20 270
14 765
18 608
19 352
211, 217
55, 860
153, 405
1,952
20, 280
5,138
15,008
18, 503
5,170
13,248
16 392
4 936
11,345
13814
4,318
9,315
111
180
15 091
5 038
9 849
16 062
5 245
10,644
9Q 317
6 019
14 130
173
167
21 668
5 601
15 905
162
21 215
5 957
15 092
'l66
21 277
5 349
15 685
16 209
2 9^6
13 073
19 628
4 685
14 781
162
21 339
5 793
15 308
*238
' 54,992 49,245
122
1,589
49, 927
108
50,824
92
54,992
113
59 394
62, 705
129
136
63 255
60 918
59 753
58 836
215
57 836
'l80
56 894
54 965
3,210
3,746
8,003
81
3,112
3,639
7,891
59
2 847
I 092
8 110
2 863
3 035
8 271
3 390
3 607
8 627
3 477
3 532
8 877
3 749
4 041
9 056
3 367
3 697
9 313
o 44.1
101
79
74
2 986
9 481
3 282
3 615
9 482
3 227
3 498
9 363
.173
.194
16 47
TIRES AND TUBES
Pneumatic casings, automotive:
Production
Shipments, total
Original equipment. _
Replacement equipment
Exports
Stocks , end of period
Exports (Bu. of Census)
Inner tubes, automotive:
Production
Shipments
Stocks, end of period
Exports (Bu. of Census)
T
_..
do
do
50, 175
1,531
do
do.
_do
__do
35, 687
41, 005
9,718
1,002
35, 562
40, 476
8,271
979
133
86
Eevised.
» Preliminary.
cTAs reported by publishers accounting for about 75 percent of total newsprint consumption.
79
99
203
160
150
3 339
3 507
9 262
' 82
167
3 496
3 544
9 494
61
243
68
191
36
225
161
65
§ 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.
November 1972
SURVEY OF CURKENT BUSINESS
S-38
1970
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
Annual
1972
1971
1971
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
__.thous. bbl__ 1390,461 1420,239
Shipments, finished cement
32, 229 34, 612
42,234 45, 043 42,335
50,447
784.6 ' 727. 5
11.0
8.4
162.4 '152.3
837.7
8.1
177.6
42, 617
43, 069
35, 954
26, 212
22 399
23, 910
733.9
12.4
155.1
720.2
11.9
148.5
651.6
11.1
143.0
561.3
9.9
113.9
507.2
9.2
109.9
545.4
10.3
109.1
742.1
9.4
144.1
701.3
8.0
144.0
808.3
10.6
160.4
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
mil. standard brick.. 6,496.0
Structural tile, except facing
thous. sh. tons.. 181.0
Sewer pipe and fittings, vitrified
do
1, 622. 3
Facing tile (hollow) , glazed and unglazed
mil. brick equivalent .. 173.0
Floor and wall tile and accessories, glazed and un250.4
glazed
_
-mil. sq. ft—
Price index, brick (common), f.o.b. plant or
N.Y. dock
1967=100.. 112.2
7, 569.7
157.0
1, 720. 6
155.4
12.7
13.0
12.2
11.1
9.2
8.9
10.8
10.5
12.0
13.2
11.0
276.1
24.3
24.3
23.8
22.2
22.7
23.6
28.1
25.0
27.7
28.4
'24.4
29.3
117.4
118.4
118.4
118.4
118.4
118.3
121.2
121.4
122.0
122.1
122.1
122.1
122.1
13.1
122.1
123.7
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments
thous. $_. 384,790
464,674
119,950
129 930
131 969
133, 248
150, 344
314,330
40, 773
79,177
41, 036
88,894
40, 821
91, 148
40,235
93, 013
268,959
263,780
21,993
23544
19986
18359
do
1266,031
255 261
21322
19 949
19186
do
do
do
do
1
24, 878
1 69, 854
52 626
i 21, 142
24 310
67, 552
53 189
21 146
2,632
5,211
4 053
1 800
1 670
4 753
3 624
1*867
1 605
5 130
3 455
1 856
Wide-mouth containers:
Food (incl. packer's tumblers, jelly glasses,
and fruit jars).
. thous. gross
Dairy products
.^
__do _
58,632
379
57, 208
305
4,999
27
5 219
26
Narrow-neck and Wide-mouth containers:
Medicinal and toilet
do
Household and industrial
do
34, 252
1 4, 268
27,645
3,906
2,293
307
37 091
35 652
34,523
9,462
8,654
10,437
10,224
2,816
2,798
2 788
2,723
2,719
2,854
3 149
2 996
6,128
6,262
1,806
1,565
1,639
1,905
4,219
i 4, 305
1,216
1 101
863
268
67
69
70
86
382
408
535
588
9,742 i 11, 946
477
292
272
9,015
1,766
122
98
149
3,285
126
85
76
2,484
479
35
88
128
3,190
118
76
70
2,415
478
33
86
122
3,349
118
79
77
2,512
525
39
91
126
3,584
114
90
93
2,668
571
48
Sheet (window) glass , shipments
Plate and other flat glass, shipments
Glass containers:
Production
do.
do
thous. gross
Shipments, domestic, total.
Narrow-neck containers:
Food _
Beverage _
Beer
Liquor and wine
Stocks, end of period.
do
131, 551
253,239
1
20, 731 21, 533
23 239
21 903
23,350
24,704
23, 082 r24 968
21 411
20633 19, 160
20,185
26 081
19288
23,650 24,420
21 518 r25 233
22 129
1 572
6*074
3 918
1 896
1,869
4,789
3,433
1,748
2,150
5,238
3,522
1,664
2
7
4
2
469
178
923
111
1 837
5,119
4 551
1*679
2 091
6,999
5 016
1 961
2
6
5
2
1 850
6,294
5 070
1 460
4 476
30
4 704
24
4,600
23
4,668
17
5 873
22
3 799
12
4,803
21
4 870
19
4 569
11
2 478
312
2 324
310
2 169
276
2,391
307
2,547
379
3,066
439
1,982
309
2,419
340
37600
38403
35,652 36, 229
37, 593
34, 666
37 141
021
904
731
021
r 2 638
6 859
5 266
2 516
5 540
4 540
1 806
5 505
' 23
4 872
2 492
362
1 96o r 2 680
'392
301
2 485
36,487 36 377
37 406 '36 604
35 462
r 1 §70
22
348
GYPSUM AND PRODUCTS (QTRLY)
Production:
Crude gypsum
Calcined
..thous. sh. tons.
do
Imports, crude gypsum
do
Sales of gypsum products:
Uncalcined
do.
Calcined:
Industrial plasters
do
Building plasters:
Eegular basecoat
do_.
All other (incl. Keene's cement)
do
Board products, total©
mil. sq. ft..
Lath
_
_
do
Veneer base
_
_
do
Gypsum sheathing
do
Regular gypsum board
__do
Type X gypsum board. __
do
Predecorated wallboard
do
265
1 301
TEXTILE PRODUCTS
WOVEN FABRICS
Woven fabrics (gray goods), weaving mills:
Production, total?
mil. linear yd._
Cotton
do
Manmade
fiber
_
do_ _
Stocks, total, end of period 9 cf
Cotton
_
Manmade
fiber
_
do.
do
.do
Orders, unfilled, total, end of period 9 f ___do. _
Cotton
_
do ..
Manmade
fiber
do
11, 545
6,395
4,991
11, 117 21,062
2598
6,281
4,735
2457
892
503
383
882
493
383
21 009
2564
2433
905
504
394
920 212 142
632
508
405
2502
899
494
397
923 212 137
500
615
2 512
414
692
346
339
879
461
411
1,052
474
570
1,031
463
561
1,471
592
867
1,094
482
604
1,202
521
668
1,141
507
624
1,095
480
605
1,094
482
604
1,096
491
596
1,104
496
599
1,085
485
591
1,055
480
566
1,045
463
573
1,063~
465
589
2,434
1,525
866
2,717
1,523
1,168
2,425
1,395
1,007
2,393
1,352
1,018
2,552
1 446
1 081
2,717
1 523
1,168
2,884
1 608
1 252
3,070
1 760
1,282
3,183
1 815
1 339
3,226
1 759
1 437
3,405
1 924
1 450
3,423 ' 3, 410 3,395
1 902 1 848 1 837
1 490 ' 1 530 1 519
COTTON
Cotton (excluding linters):
Production:
GinningsA
...thous. running bales.. 10, 112 10,229
879 4,604 7,895 3 8, 186 * 9, 723
s 10, 229
521 1 826 6 850
40
Crop estimate, 480-pound bales, net weight
6
10,
192
thous. bales..
10, 473
s 10,
473
13, 955
2
2
2
Consumption
_
do .
2 727
2771
7, 878 8,128
633
642
632
649
808
620
627
715
772
587
594
493
Stocks in the United States, total, end of period
thous. bales.. 11,900 10,185 13, 165 11,699 11, 247 10,185 9,088 7,642 6,474 5,555 4,597 3,808 3,304 16, 050 15,364 14,948
Domestic cotton, total
do
11,886 10, 166 13,144 '11,684 11, 232 10, 166 9,064 7,614
6,448 5,526 4,573 3,785 3,280 16,030 15,345 14,931
1,482
On farms and in transit
do
2,389 10,403 '6,709 3, 747 2,389 1,399
878
602
377
161
119
150 13,338 12,333 8,490
Public storage and compresses
do
9,257 6,547 1,488 '3, 909 6,462 6,547 6,315
5,140 4,047 3,253 2,572
1,472
2,018 5,547
1,997
1,607
Consuming establishments
do .
1,147 1,230 1,253 1,066
1,023 1,230 1,350
1,596
1,799
1,896 1,840
1
.
523 1 220
894
994
1,669
Foreign cotton, total
do
14
19
21
15
16
19
24
28
26
29
24
17
23 1
24
20 ' 19
r
Revised.
1 Reported annual total; revisions not allocated to the months
cf Stocks (owned by weaving mills and billed and held for others) exclude bedsheeting,
4 or quarter.
2 Data cover 5 weeks; other months, 4 weeks.
3 Ginnings to Dec. 13.
Ginnings to
toweling, and blanketing, and billed and held stocks of denims.
Jan. 16. s crop for the year 1971. » Nov. 1 estimate of 1972 crop.
GData for total
^Unfilled orders cover wool apparel (including polyester-wool) finished fabrics; production
board products are available back to 1947; however, no comparable data prior to 1971 are
and stocks exclude figures for such finished fabrics. Orders also exclude bedsheeting, toweling,
available for the components.
and blanketing.
9 Includes data not shown separately.
ATotal ginnings to end of month indicated, except as noted.
SURVEY OF CUREENT BUSINESS
November 1972
1970
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1971
1971
Annual
S-39
Sept.
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
TEXTILE PRODUCTS—Continued
COTTON— Continued
Cotton (excluding llnters)— Continued
Exports
thous. bales..
2,982
37
5 4, 128
38
310
5
195
0
272
(3)
417
4
337
15
402
16
437
5
275
6
163
4
147
g
110
5
59
4
82
2
Price (farm), American uplandO— cents per lb__. 121.9
Price, middling 1", avg. 12 markets©
do— 123.6
028.5
«30.0
27.0
27.3
27.6
27.7
28.7
28.0
29.1
30.1
30.2
32.9
30.3
33.4
27.8
33.8
31.3
35.2
32.3
35.6
32.0
34.3
31.0
33.0
31.0
31.1
24.4
26.8
25.6
24.9
18.3
11 0
18.3
10 9
9.3
.466
5.5
18.4
10 9
211.5
.460
2
6.8
18.3
10 8
7.4
.371
4.3
18.2
10 7
8.9
.444
5.1
18.2
10 5
.438
26.3
18.2
10 6
9.1
.456
5.2
1.121
1.123
1.123
1.121
1. 117
8 1. 107
COTTON MANUFACTURES
Spindle activity (cotton system spindles) :
Active spindles, last working day, total
Consuming 100 percent cotton _
Spindle hours operated, all fibers, total
Average per working day__
Consuming 100 percent cotton..
mildo
bil__
do
do
18.6
11.6
113.0
.435
70.4
18.4
11.4
113.8
.438
70.3
18.4
11.4
210.8
.433
26.7
18.5
11.4
9.1
.456
5.6
18.4
11.4
9.0
.450
5.5
18.4
11.4
210.2
.407
2
6. 2
18.3
11 2
9.1
.453
5.5
18.2
11.1
9.1
.457
5.5
211.5
.460
26.9
18.3
10 9
9.2
.458
5.5
Cotton yarn, price, 36/2, combed, knit
$ per lb__
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly.)
mil. lin. yd--
1.008
1.061
1.082
1.082
1.082
1.088
1.096
1.107
1.107
1.115
6,246
6,147
1,405
15.4
16.9
13.4
12.5
14.3
16.9
16.1
16.3
17.1
17.8
17.7
18.0
24.8
18.6
18.8
5.5
4.5
4.5
4.3
4.2
4.5
4.3
4.2
4.1
4.1
3.9
3.9
6.6
4.0
3.8
.36
.27
.33
.34
.30
.27
.28
.26
.24
23
22
.22
.23
.22
20
274.3
543.3
312.6
569.5
36.3
76.2
13.0
27.3
23,7
21.2
45.3
85.7
33.9
75.0
31.6
59.1
37.7
58 5
32.3
69 1
33.8
55 5
35.8
71 4
29.7
53 1
34.2
67 9
31.3
51 6
43.57
745.10
45.32
44.82
44.81
44.89
44.90
45.62
46.26
50.10
52.12
53.81
58.64
61.65
16.4
21.8
16.4
21.8
16.4
22.0
17.5
23.0
17 5
23.3
17 8
24.0
18 0
24.0
45.38
ic n
24 0
47.29
15.8
22.2
18 3
24 0
18 3
18 3
18 3
1R °t
18 3
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' prodRatio of stocks to unfilled orders (at cotton
mills), end of periodf
Exports, raw cotton equiv...^
Imports, raw cotton equiv
thous. bales..
_ _do
Mill margins:
Carded yarn cloth averagecents per lb-_
Prices, wholesale:
Print cloth, 383^-inch, 64 x 54 cents per yard
Sheeting, class B, 40-inch, 48 x 44-48
do
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly. total
mil. lb__ 5,391.7
730.8
Filament yarn (rayon and acetate)..
—do
R07 4.
Noncellulosic, except textile glass:
Yarn and monofilaments
Staple, incl. tow
Textile glass
fiber
Exports: Yarns and monofilaments
Staple, tow, and tops
Imports: Yarns and monofilaments
Staple, tow, and tops
Stocks, producers', end of period:
Filament yarn (rayon and acetate)
1,527
6,125.4 1, 574. 3
181.9
752.7
611 7
154 9
1,637.4
178.8
1, 708. 9
179.1
179.0
1 ,823. 6
170.1
185.1
609.2
553.8
127.4
608.7
607.5
134.6
674,3
653.4
140.7
1, 793. 4
1, 792.8
467.3
2,187. 9
2,104. 9
468.2
580.3
531.0
126.2
thous. lb__ 148,843
152, 871
do
130,511
181, 612
10, 896
25, 155
5,609
6,967
6,490
7,505
9,186
12, 446
9,851
14,441
9,971
16,080
9,500
20, 279
9,311
13, 177
9,558
17, 506
8,501
17,312
8,194
17,351
10, 533
15, 713
8,429
14, 625
137,054
140,075
249,819
176,306
23, 982
20, 601
18,220
15, 702
8,878
4,048
22,329
9,399
20 302
8,738
15 608
13,808
20 387
10, 985
iq 170
11, 980
17 173
13,952
18 358
13,577
21 484
13,114
26 279
16, 771
23 089
13^307
75.0
7A n
65.2
40 7
70.3
41 4
65.2
288.3
242.6
103.8
297.6
252.9
89.7
263.1
246.6
84.1
297.6
252.9
89.7
.61
.93
1.39
.61
.62
.62
.62
.62
1.24
1.24
do
do
do
do
do
mil. lb—
Noncellulosic fiber, except textile glass:
Yarn and monofilaments
do__
Staple, incl. tow
do
Textile glass
fiber
_
do
Prices, manmade fibers, f.o.b. producing plant:
Staple: Polyester, 1.5 denier
$ per lb—
Yarn: Rayon (viscose), 150 denier
do
Acrylic (spun), knitting, 2/20, 3-6D— do
Filament and spun yarn fabrics (combinations
and mixtures)
..mil. lin. yd...
Al)
.62
.62
4
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.), total 9
mil. lin. yd-- 5, 028. 2
1,461.4
Filamentyam (100%) fabrics?
do
Chiefly rayon and/or acetate fabrics
do.. — 639.7
Chiefly nylon fabrics
_
do
271.4
Spun yarn (100%) fab., exc. blanketing 9 -do.... 2,871.6
Rayon and/or acetate fabrics and blends
444.8
do1
1.24
1.26
1.21
1.21
4,885.6 1,147,8
1,433. 1 343.0
125.5
521.1
71.5
296.1
639.0
2,773. 9
7
.62
1.03
1.19
.62
i ni
1.19
.62
1 05
1.18
61.5
33.0
64.7
36.4
279.7
267 6
86.2
270.7
279 9
78.0
.62
Ifti
1.18
.62
1.01
1.20
.62
I nn
1.22
.62
I nn
1.24
15 5
7.3
6.3
43
9.0
4.2
9.9
8.0
12.6
5.8
10.7
7.8
1.275.2
388.3
130.9
73.4
701.7
1,343.1
421.3
139 9
86.9
723.7
1,378.7
430.2
126 5
96.6
761.6
m
88.7o
103.3
508.0
106.6
639.3
472.6
450.5
109.3
126.5
137 2
128 4
2
K
mil lb
do
do
do
163 7
76.6
153.1
73.3
116.2
74.8
126.6
83.9
Wool prices, raw, clean basis, Boston:
Good French combing and staple:
Graded territory,
fine_
Graded fleece, 3/i blood...
Australian, 64s, warp and half-warp
$ per lb—
do__ —
do.. ._
1.024
.872
.941
.664
.656
.802
10 7
7.5
13.3
8.4
88
7.0
5.3
29
77
6.4
1.0
g
.610
.640
.795
.610
.621
.780
.605
.693
.805
2
WOOL MANUFACTURES
Knitting yarn, worsted, 2/20s-50s/56s, American
94.4
92.0
91.1
91.1
101.4
system, wholesale price
1967=100
Wool broadwoven goods, exc. felts:
22.7
113.3
Production (qtrly )
mil lin yd
178 6
Price (wholesale), suiting, flannel, men's and
101.3
boys', f.o.b. mill
„..
1967-100..
r
2
Revised.
1 Season average.
For 5 weeks;
other months, 4 weeks.
3 Less than 500
5
bales.
* Average
for 4 months, Sept.-Dec.
Revised total; revisions not distributed
6
by months.
Season average prior to
Apr. 1972. 7 Beginning Aug. 1971, net weight
8
basis; 1971 average is for Aug.-Dec.
Effective Oct. 1972, price not directly comparable
with earlier data. ©Beginning Aug. 1971, prices are on 480-lb. net-weight bale basis (for
2
2
98
7. 2
10.7
9.9
9.6
7.6
7.1
5.0
10.4
7.2
10.5
9.0
.615
.525
.839
.625
.525
.890
88.3
89.2
21.1
2
2
1 AQ
1.24
83.3
462 3
•I QQQ
.62
1.24
381.8
QOO Q
WOOL
Wool consumption, mill (clean basis) :
Apparel class
Carpet class.
Wool imports, clean yield.
_
Duty-free (carpet class)
11.0
1 504
1,511
ICQ o
2
2
14 6
7. 6
7.2
54
11 8
61
11.8
81
12 6
6.3
8.6
7.0
.640
.550
1.030
.708
.577
1.001
.944
.696
1.095
1.130
.895
1.133
1.200
.962
1.270
1,270
1.025
1.230
1.275
1.025
1.289
1.350
1.042
1.500
1.455
1.165
1.672
89.2
90.2
92.6
105.0
107.8
108.2
111.5
113.4
122.7
2
25.6
2
13 1
7.3
6.2
4.6
2
27 1
earlier months, on 500-lb. gross-weight bale basis); to compute comparable prices for earlier
months, multiply farm price by 1.04167 and market price by 1.0438.
t Effective with the Oct. 1972 SURVEY, series restated on an unadjusted basis.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1970
1971
1971
Annual
November 1972
Sept.
Oct.
1972
Nov.
Dec.
Jan.
Feb.
Mar.
May
June
July
Aug.
Sept.
17,764
20 964
19 730
21 908
20 482
1,683
1,326
15,050
1,717
1 575
1 413
14, 781
1,833
783
710
11, 986
1,133
1 581
1 223
14, 580
1,576
1 513
1 282
14,440
1,592
1,289
19, 729
1,237
1,553
22, 684
1,397
1 382
15 863
1,313
1 738
22, 929
1,604
489
534
289.7
4,316
128.2
223.7
3,175
85.6
227.0
3,434
111.2
993.9 1, 078. 3 1,024.8
968.4
939.7 1,019.5
804. 2
779.1
842.9
761.6
798.0
736.9
220. 6
214.8
235.3
206.8
221.5
202.8
531.7
504.5
411.9
393.6
119.7
110.8
551.9
516.0
398.5
371.0
153.4
145.0
812
656
156
11.1
9.3
1.7
Apr.
Oct.
TEXTILE PRODUCTS—Continued
APPAREL
Hosiery, shipments.thous. doz. pairs.. 231,795 210, 872 ; 18, 810 20, 058 16, 790 14, 834 15, 172 15, 932 19, 325 18, 594
Men's apparel, cuttingsrt
Tailored garments:
1,389
1,356
1,607
Suits
thous. units. _ 17, 694 1 16, 477 1,427
1,463
1,558
1,703
1,578
1,232
1,076
1,088
1,198
11, 750 1 13, 972 1,086
1,279
1,067
Coats (separate) , dress and sport _
do
1,206
173, 599 i 183,738 14, 721 14,696 15, 087 13, 430 15, 503 14, 889 17,030 15, 200
Trousers (separate) , dress and sport
do
1,824
1,722
1,770
1,603
1,713
1,674
Shirts (woven), dress and sport
thous. doz... 20, 792 i 20, 795 1,772
1,820
Women's, misses', juniors' apparel, cuttings:}
1,795
1,289
1,344
1,717
1,245
1,146
943
Coats
-- -thous. units. _ 21, 769 120,690 1,661
251, 540 i 234,153 19, 784 20, 841 19, 323 16, 327 18,386 23,872 23,981 23, 650
Dresses
*
. _
do
13,250 112,639
1,106
1,031
1,112
981
786
1,196
1, 315
1,355
Blouses and shirts
thous. doz
i 6, 985
535
421
402
509
6,927
587
599
590
516
Skirts
do
447
451
r
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders, new (net), qtrly. total
.mil. $
U S Government
do
Prime contract
do
Sales (net) receipts or billings otrly total do
U S. Government
.do
21, 161
15,116
19, 010
24,752
16, 407
21, 553
15,229
19, 028
21, 679
14, 114
6,542
5,004
5,948
4,831
3,281
5,429
3,782
4,549
5,246
3,305
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. $
24, 705
12, 882
13, 264
2,449
24, 579
13, 997
11, 999
2,281
24,395
13, 520
12, 509
2,314
24, 579
13, 997
11, 999
2,281
4,522
4,780
4,567
4,780
f
4, 730
4,905
2,791
3,274
3,007
3,274
'2,906
2,774
3, 605. 0
59, 436
1,527.2
2, 972. 9
48, 818
1, 906. 8
195.0
2,847
122.8
211.1
3,480
126.3
247.8
3,822
112.4
258.1
4,687
195.9
214.9
3,303
144.8
235.1
3,781
142.7
8,239.3 10,637.7
7, 753. 0 10, 036. 0
6, 546. 8 8,584.6
6, 187. 3 8, 121. 7
1, 692. 4 2, 053. 1
1,565.7 1,914.3
951.1
892. 3
757.8
712.0
193.3
180.2
988.3
943.1
793.5
758.6
194.8
184. 5
963.3
917.0
773.5
736.6
189.8
180.4
786.1
745.0
623.4
593.2
162.7
151.8
889.1
847.2
698.0
666.0
191.1
181.2
954.3 1,038.3
983.4
910.0
806.5
748.3
765.2
716.1
231.8
206.1
218.3
193.9
8,405
7,119
1,285
10, 252
8,681
1,570
884
756
129
12.2
10.8
1.5
1,051
934
117
11.3
10.0
1.4
962
848
114
10.9
9.4
1.5
741
649
92
9.3
8.0
1.3
721
610
111
10.3
8.8
1.5
813
698
115
10.4
8.9
1.5
913
772
141
10.3
8.7
1.6
899
774
125
10.6
9.1
1.5
1,030
888
143
11.0
9.6
1.5
1,025
877
149
10.4
8.9
1.6
904
769
135
11.4
9.8
1.6
1,220
1,294
1,447
1,590
1,591
1,691
1,481
1,660
1,446
1,595
1,447
1,590
1,588
1,521
1,684
1,566
1,741
1,578
1,782
1,628
1,781
1,606
1,751
1,540
1,393
1,373
2.4
2.1
1.9
2.0
2.0
2.4
2.1
2.1
2.2
2.2
2.0
2.1
285. 04
245. 62
93.87
386.64
348.40
100.04
37.95
32.86
9.98
29.73
27.02
7.71
32.04
29.39
7.53
26.62
22.44
8.50
25.11
22. 13
7.37
28.22
25.00
9.99
34.56
31.59
10.16
36.74
33.89
9.81
41.34
38. 76
11.00
2,013.42 2,587.48
802. 28
160. 87
103, 784
65, 785
227.04
67.53
13.32
9,620
6,353
194. 65
72.35
16.18
10, 598
7,315
215. 30
77.81
21.33
9,652
6,483
229. 09
67.78
25.66
10, 721
7,260
215. 64 226. 78
59.30
75.75
20.14 6 21. 95
9,947 11,309
7,039
7,770
258. 77
81.44
21.73
13,078
9,035
216. 15
82.59
19.29
12, 100
8,078
18, 509
1,844
1,483
1,833
1, 878
2,835
2,763
Aircraft (complete):
Shipments
Airfi ame weight
"Rxports cOTpfriweial
do
thous Ib
mil. $
••4,658
r
3, 051
r
4, 192
r
4, 913
'3,022
5 752
r 3 723
5 032
5 350
3,339
r
24,324
r 14,026
' 11,818
2,273
382.7
6, 188
298.1
24 726
14 410
12 128
2,305
219.5
3,285
131.7
344.5
4,930
189.4
76.3
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
DomesticsA
Imports A
- - Total seasonally adjusted at annual rates
Domestics A
Imports A
-
thous..
do
do
mil
do
do
Retail inventories, new cars (domestics), end of
period: A
Not seasonally adjusted
thous. .
Seasonally adjusted
- do .
Inventory-sales ratio, new cars (domestics) A
Exports (Bureau of the Census) :
Passenger cars (new), assembled
To Canada
Trucks and buses (new) assembled
Imports (Bureau of the Census) :
ratio..
thous
do
do
692. 78
From Canada total
do
i 115. 82
Trucks and buses complete units
do
Truck trailers (complete), shipments
number.. 105, 709
71, 274
Vans
do
Trailer bodies and chassis (detachable), sold
26, 138
separately
number
2,147
2,207
1,049.7 21,133.7
986.7
859.3 2 892. 2
808.8
190.4 2 241.5
177.9
878
741
138
11.8
10.2
1.6
*1,070
932
"138
»11.2
9.6
Pl.6
1,263
1,488
1,300
'1,485
1,288
1,492
1.7
1.9
'1.7
1.9
35.85
34.11
9.99
19.51
18.39
8.35
19.50
18.04
8.24
45.89
43.40
8.93
258. 70
83.25
25.14
12,874
8,538
209. 70
89.72
26.34
11, 745
7,362
153. 95
47.36
13.06
10, 132
6,746
170. 35
35.23
22.09
11, 623
8,251
142. 98
58.41
14.64
2,782
2,069
2,322
2,875
Registrations (new vehicles):©
Passenger cars
thous . . 58,388.2 1*9,729.1 * 791.0 * 922. 3 4934.7 * 885. 0 * 685. 1 4 680. 0 4 828. 1 4 817. 2 3 865. 8 3 916. 7 33 812. 6 3 864. 8
116. 1 3 144. 1
« 1,231.0 i 4 1,465.7 4 128. 6 *4 115. 9 4103.7 498.2 4 91. 4 497.1 4 122. 5 4117.0 3121.3 3126.4
Imports, incl. domestically sponsored
do
183. 4 4 193. 9 4 206. 8 4 165. 0 4 165. 7 * 203. 1 4 201. 9 3 220. 1 s 229. 8 3203.3 3201.3
151,790.2 1*1,981.3 * 153. 9
Trucks
_.do
7
7
7
743. 4
128. 9
177. 0 ........
RAILROAD EQUIPMENT
Freight cars (all railroads and private car lines):
Shipments
number
Eouipment manufacturers
do
New orders
-do
JBouipment manufacturers
do
Unfilled orders end of period
do
Eou'pment manufacturers
do
Freight cars (revenue), class 1 railroads (AAR):§
Number owned, end of period
thous..
Capacity (carrying), aggregate, end of period
mil. tons-Average per car
_.-tons_.
i 66, 185 155,307 *T 4, 699
4, 142
i 52, 411 1 47, 990
1,534
i 50, 293 152,482
1,534
i 42, 530 i 46, 913
22, 221 23, 113
27, 552
18,753 19,880
22, 320
4,865
4,569
7,473
6,873
25,863
22, 426
4, 159
4,046
3,518
3,418
25, 213
21, 789
4,807
4,551
3,933
3,633
22, 221
18, 753
4,211
3,965
3, 780
2,320
21, 865
17, 183
3,567
3,327
2,125
2,025
19, 490
14,948
4,580
4,351
3,662
3,462
18, 592
14,079
4,417
4,135
2,712
2,062
16, 847
11, 966
4,731
3,903
3,183
2, 955
15,344
11,063
4,351
3,705
5,923
4,543
16,936
11, 921
2,846
2,297
2,932
2,711
17, 027
12, 340
3,389
2,822
5,112
4,975
18,750
14, 493
3,199
2,619
5,095
4,516
20 ,642
16,386
1,423
5.7
1,422
5.6
1,427
5.7
1,426
5.6
1,426
5.7
1,422
5.6
1,422
5.8
1,441
5.7
1,439
5.8
1,433
5.8
1,431
5.9
1,426
5.9
1,426
6.0
1,424
6.2
1,424
5.9
95.64
67.19
97.14
68.29
97.00
67.98
97.15
68.13
97.22
68.19
97.14
68.29
97.33
68.44
98.82
68.56
98.82
68.68
98.56
68.78
99.07
69.24
98.38
68.97
98. 49
69.09
98.56
69.19
98.64
69.27
l
r Revised
Annual total includes revisions not4 distributed by months.
2 Estimate
of production.
2 Omits data for three States.
omits data for two States.
* Omits
data for one State.
«Effective Feb. 1972, imports include trucks valued less than $1,000 each.
7
Omits data for 4 States.
-,«„•.,» ™ » / « ^ ,
n
{Monthly revisions (1970) appear in Census report, Apparel Survey, 1970, MA-23A(70)-1.
$ Total includes backlog for nonrelated products and services and basic research.
ADomestics include U.S.-type cars produced in the United States and Canada; imports
cover foreign-type cars and captive imports, and exclude domestics produced in Canada.
OCourtesy 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
• " '
General:
SECTIONS-
Business indicators....»,.... .. , - , . . , 4 . . . , , . .
1-7
Commodity prices.
...,,..;,.»,,»•.»,
7*9
Construction and real estate. . ' , • . , . , , , . . . , , . . , , • 9,10
Domestic t r a d e . , . , , . , . , .
. . . , . . » . , , . . . , 11,12
Labor force, employment, and earnings..,»,,•,
Finance,
...:,...,,,,....*.
Foreign trade of the United States
,.,
.
Transportation and communications. ,....
13-16
J6-21
21-23
23,24
Industry:
Chemicals and allied products..'.,,,'
. . . . . . 24,25
Electric power and fas.
• , . , , . . . . . . , ' . „ , , ' 25,26
Food and kindred products; tobacco,,,
26-30
Leather and products.
...»»»....,,..,.
30
Lumber and products, . , , . , . . . . , . , , „ , , » , , , , , ,
31
Metals and m a n u f a c t u r e s , . , . , . . . . . , , ' , . , , , . , . 31-34
Petroleum, coal, and products. , • . . , ' . , , . , , , . . . . 34-36
Pulp, paper, and paper products.. *
v . . ' . . . . 36,37
Rubber and rubber p r o d u c t s , . , , , , » . , , » , . , . » , .
37
Stone, clay, and glass p r o d u c t s . . . , , . , ' . . , » , , , .
38
Textile products.......;.........'..
38-40
Transportation equipment.
40
INDIVIDUAL SERIES
Advertising ---- ; . . . . . . , , , . ; , . . . . . . , . . _ , , . . . , 11,16
Aerospace vehicles. . . . ..... . . . . . . . . . . . ........ 4, 40
Agricultural loans, . . . . .____, . , , , , , , . . . . , . . , . .
16
Air carrier operations. , , , , . . , / , ..... . . . . . . . . . .
23
Air conditioners (room). . . . . . . . . .,____. . . . . . . . . . .
34
Aircraft and parts. . . . . . .____. , „ . , ' , . . . . . . . . . » 6, 7, 40
Alcohol, denatured and ethyl. , . , . , . , , , , , , . • . , , , « .
25
Alcoholic beverages. ................ ........ ,, 11,26
Aluminum* ......... . . . . . . . .
$3
Apparel.. ...... . . . . . . . . . . . . . . 1,3,4,83,1^15,40
Asphalt and tar products, , . ..... . . . . . . . . . . . . . . 35, 36
Automobiles, etc, . , . , . , I, 3~6t 8, 9, 11, 12, 19f 22, 23, 40
Balance of international payments. * . ,
..........
2, 3
Banking ....... . . . . . ...... » ..... . , ,„'* ..... .-, . 16. 17
Barley. .......... . „ . . . . . , . . . . . , . . , . . * , . . , , . ,
27
Battery shipments ..... . . . . . . . . . . . . ......... '. ,
34
Beef and veal. . -. » . . . . . . . . . . . . . . , . . • . . . . ; ,
20
Beverages,.,.,,.
, . . . , . _ . . , . _ 8,11,22,23.26
Blast furnaces, steel works, etc . . . . . . . . . . . ...... 5-7
Bonds, outstanding, issued, prices, sales, yields. ... 19, 20
Brass and bronze ...... . . . . . . . ....... . . . . .
33
Brick. . . . ---- , , . , . . . , _ , ..... . . . . . . ....... ] ! ' 38
Building and construction materials. . . . . . . . . . . . 4-7,
~ ..,.
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
Clay products, , ....... . « • ............ . . . ' . ' . . . . . 9,38
Coal- ........... ...........,.:..;..... 4,8,22,34,35
Cocoa,.........,,,,...,,.,,
................
. 23,29
C o f f e e . . , . . . . . . . , , ..... . . . . , . , , . , , , . , , , ...... 23,29
Coke...... ....... » + *......,...
35
Combustion, atmosphere, beating equipment. ". '. ". *
34
Communication, , . , ............. , ......... 2 20 24
Confectionery, sales, . ..... . . , ' , ! . ] * ..... ..... * *29
Construction:
Contracts, ... ...... * . , . . , . . „ ..... . . . . . . . . . .
10
Costs. . . . , . . , . , . . » , . . . . . , . , „ •___,'.',*.*.,* ^ "."."* I
10
Employment, unemployment, hours, earnings. . 13-15
Fixed investment, structures, ,____. . ' . . . . . . , ; ,
1
Highways and roads ...... . , , , , . . , . » . , , ..... 9 10
Housing starts. . , . . • . « + . , . . . . . . . . . . I , . . ] ] ] * ' *
10
Materials output indexes . , , . . . , * * " ' * * . . . V, V,
10
New construction put in place ........... .
9
Consumer credit, . , „ ' . „ ; , . ^ . . . .
............
* * * * 17 ig
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
£r°P/> • • ......... .................... 3,7,27,30,38
Crude oil ..... . , » ' . . , - . . . „ ,
.....
4 35
Currency in circulation. . . . . . . ' , ," . ." . . . . . . .' ' ' ' , . * 19
Sa|fJ Products,, . ...... . . . . ......... , _ 3,7,8,26,27
Debits, bank, , ..... . . . . . . ...... , . . . , , . , , . , , . .
16
Debt, U.S. Government. .. ........ I.*..!!!!!!!!!!
18
Department stores. , . . . . . . , „ „ • . ; , . . , - ..... !!!!!!! II 12
Deposits, bank. . . » . . , .
___
.....
*16 17* !Q
, .. .... . . . . .
..
, ' *
Disputes, industrial. . . . . ..... , , , . . .
16
Distilled spirits./.,, . . ...... ; '.;. . t , . . [ ] ] \ [ \ \ \ \ \
||
Dividend payments, rates, and yields. . , , . , , 2, 3, 19-21
Drug stores, sales ..... , , . . . . , . . . . ' , . , . , . . » . . . . . , 11^ 12
Earnings, weekly and h o u r l y . . . , , , . . . . , » , . , , , . .
15
Eating and drinking p l a c e s . , . , . . , , . . . . . . . , . . , , 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
Electronic components. . , , , « . » » , . , » . , * , , . .
,,
34
Employment estimates....»,«,.
13,14
Expenditures, U.S, Government.....,,...
18
Explosives.
25
Exports (see also individual commodities).... 1,2,21-23
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 o f . . . . . . . - . . , . ' . . '
16
Federal Reserve member b a n k s . „ , , , . . , ,
17
Fertilizers,.'
8,25
Fire losses,
,..'. ]
10
Fish oils and
fish,.....,......,,.....,,,..,..,
29
Flooring, h a r d w o o d , . . . . . . . ' + . , . . « . .
31
Flour, w h e a t , » , , , ,
*.»...,
..,...,
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)..,,..
40
Fruits and v e g e t a b l e s . , . . , , , , . , » . , , . , , . . , , , . , ,
7,8
Fuel oil
,.......,.,..,
, . . , , 35,36
£)i*l*v
,
. . , . , 4,8,22,23,34-36
Furnaces,..,,,,.,.....,»,,»....,..,.,..,,...
34
Furniture.
4,8,11-15
Gas, output, prices, sales, revenues.,,..,,...,, 4,8,26
Gasoline,,
...
..,.,,.,..
,,
1,35
Glass and p r o d u c t s . . . . , . , . . , . . . , , , . . . . , , , . , , .
38
Glycerin.
,......,...,.,.
25
Gold...
,..,.
Grains and products..,.-,.'
,
;;..
7,8,22,27,28
Grocery s t o r e s , , , . . . . . . . . . , » . ; , . . , " • . , , . , , . . . , , 11,12
Gross national product..»
1
Gross private domestic investment,
I
Gypsum and products.,
. , . . , . . . . , . , , . . . , 9,38
Hardware stores.
Heating equipment..
Hides and skins.,...
Highways and roads.
Hogs.,
Home electronic equipment,,.',.». ^ » . , . , , , - / . . , ,
Home Loan banks, outstanding advances,.......
Home m o r t g a g e s , . . . , , . , , , , . . , , . , , . . . , ,
Hosiery.
!..*...
Hotels* and motor«hotels. . . . . . . , . . . . . , . . , , . , . * , *
Hours* average weekly,
Housefurnishings,
,
lf 4f 8,
Household appliances, radios, and television sets.
Housing starts and permits.
11
°»34
9,30
9,10
28
8
10
10
40
24
14
11,12
4,
11/34
10
Imports (see also individual commodities),,. 1,2,22,23
Income, personal........
,...,...».....»..
2,3
Income and employment tax r e c e i p t s . , , . . , , , . , . ,
18
Industrial production indexes:
By i n d u s t r y . , , . . . . , . . , . . ,
;—
'„
. $t 4
By market grouping.
3,4
Installment c r e d i t . . , . , . . . ,
; . . . . . ' . . 12,17,18
Instruments and related products....,...., 4-6,13-15
Insurance, life
»
..,
18,19
Interest and money r a t e s , , . . , , . , . . . . ,
,
17
Inventories, manufacturers* and trade....... 5,6,11,12
Inventory-sales ratios
,
5
Iron and s t e e l . . , , , , . . . , . . . . 4-7,9,10,19,22,23,31,32
Labor advertising index, stoppages, turnover.....
Labor force. , . , . . . . „
.,...,.,,.,,,.,..,
Lamb and m u t t o n . . » , . , , , . , . . . » , . , . . .
Lard.,..,.,.,,...........,.....
16
13
28
....;.;; 23
Lead.,
,
33
Leather and products.
4,9,13-15,30
Life insurance.
,,.,.,.
18,19
Linseed o i l , . . / . ; . , . , .
,..,,,,,.,
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 p r o d u c t s , . . . . . . . . . . . . . . . 4,9,10-15,19,31
Machine t o o l s . . . . . , . . . , . »
34
Machinery
4-7,9,13-15,19,22,23,34
Maw order houses, sales.,.,.,,
H
Man-hours, aggregate, and indexes. . . . . . * , . . . . . 14,15
Manmade fibers and manufactures.
9,39
Manufacturers* sales (or shipments), inventories,
orders.»'........,,,..,<
5-7
Manufacturing employment, unemployment, pro*
duction workers, hours, man-hours, earnings... 13-15
Manufacturing production i n d e x e s . « . . . , , . , . . . . . 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,' ii-15,19
Monetary statistics.
,...,.,.,»,,,,.,
19
Money supply..,. . . , . . . . , . . , , , , , , . , . , . , , .
19
Mortgage applications, loans, rates..,
10,16,17,18
Motor carriers..,.,.,...
,,,.»„..,
23,24
Motor vehicles
1,4-6,8,9* 11,19,22,23,40
Motors and generators.,.,.,..
.,..,.....,..
34
National defense expenditures, . . . . . . . . . . . . . . . . . 1* 18
National income and product. . ....... , . , , , . . , ,
12
National parks, visits, . » , . . , , . , . , . , . . . , , . . . . » .
24
Newsprint. . . , . . , , * ..... , ..... ......,.,....., 23, 37
New York Stock Exchange, selected data. ,.,!.!! 20, 21
Nonferrous metals. , , ...... ---- ..... 4, 9, 19, 22^ 23, 33
Nomnstailment credit. . , , * , , , , . . , , . . , , . , , , , , . ,
18
Oats,, ..... , , , . .......... . . . . , . , . . . , . , , , , , ,
27
Oils and fats,
.
. . . . . . . . ...... . , 8,22,23,29,30
Orders, new and unfilled, manufactures*. . , ...... 6, 7
Ordnance. . . . . . . . . . . . , , , , . . , , , , . . . . , . . . , . , . .
Faint and paint materials, . . . . . . ..... , . , , . . , . . , 8,25
Paper and products and pulp. . . . . . . . . . . . . . . . . . 4-6,
„ .
.
9,13-45,19,23,36,37
Parity ratio ........... . , -.____. . . . , , , , . .
/
7
Passenger cars. ........ ..... 1, 3-6, 8, % 11, 12, 19,' 22, 23, 40
Passports issued. * . . « , . . < « ' . ' . . " . - . - . . . . . . . ' . . . . » , , , ,
24
Personal consumption expenditures. . , ..... . . . . . .
1
Personal income. . . , . . . . , , . . . . . . . . . . . , , , . . , . . , 2, 3
Personal outlays. .]t . . , . . . . , , . . . , , , . ' . . , . , ^ * [ * .
*2
Petroleum and products. . . , , , , , , , , , , .
.....
4-6,
„, ,
8,11-15,19,22,23,35,36
Pig iron, . . . . , . . , . , , , , , . . . , ..... . . . . . . . . . . . . . 31,32
Want and equipment expenditures, . , . , . ...... • . .
2
Plastics and resin materials. . . , . , . . . . . , , , . , . . . ,
25
Population. . , . , , , , , , , . ......... . . . . . . .
13
Pork. . . . . . . . . , . . , . . * . , , , . . _ , , . . , , , . , ____ , . I
28
Poultry and eggs., . . . . . . . . . . . . . . . . . . . . . 3,7»8,28,29
Pnces (see also individual commodities) . , , . . . , . .
7-9
Printing and publishing. , . . . , , . . . , , . . , , , , . , , 4t 13^-15
Private sector employment, hours, earnings. . . . . . 1IMU5
Profits, corporate. . . , . . . , . . , . . , . , . , , , , , . . ,
2, 19
Public utaities. , . . . . , , . . , , . . . , . . , 2-4,9,19-21, 25t 26
Pulp and pulp wood. . . . « . , ; . „ . „ . ._____, . . . . « . , ,
36
Purchasing power of the dollar. , . , , , , . , . , . , . * , ,
9
Radio and television, . , , . ...... ..'.-;. ...... 4, 11,34
19Railroads.
. . . . . , . ; . , . . . . . . . . . . . 2, 15, 16, 20, 21 , 24, 40
Ranges, „ — . . . . . . . , , . , , , ..... , . . , . , . . , . , , , . ____ 34
Rayon and acetate. * . . » > . , , ' . . . . , . • , ...... . . . .
39
Real estate, . , . . , . . . ............ . . . . . . . . . . 10, 17, 18
Receipts, U.S. Government. , . . . , . , ,____, ..... .
18
Recreation. . , , . . , . .____. . . . . . . . . . . . , . . . , , . , , ,
8
Refrigerators. . « . . , . , , . , , . , , , , , , ..... . , .
34
Registration (new vehicles)..,..,.. ...... . . . . . . . . .
40
Rent (housing). . . . . . . . . . . . . . . . . . .
8
Retail trade.. . . . . , , , . , . . . , . . . . . , ..... . 5,7,11-15,17
Rtce. . , , . . , . . . . ...... . .......... . . , . . , , , , , , .
27
Roofing and siding, asphalt, . . . . . . . . * . , ! , , , ] . ] [
36
Rubber and products (incl. plastics) . . . , . , . , . , . . 4-4,
9,13-15,23,37
Saving, personal. , . . , , . . . , , . . . , . , . , , . . . . , . . . , ,
2
Savings deposits, . . ; . * ; . . ....... ... ........ , . ,
17
Securities issued, , , , , , . . , . . . . ................ .19,20
Security markets. . , , , . , . . ____ ...... , . , , , . . . . . 20,21
Services. . . . . . , . . , . , . , . , , . . . , /, ..... ,, , . , 1,8, 13-15
Sheep and lambs, . . . . . . . . . . . . . . . .____... ..... 28
Shoes and other footwear. . . ......... » . . „ , 9. 11, 12. 30
Silver, . . . . . . , , , , , , , . , . , .____. . .____, ..... * . / • 19
Soybean cake and meal and oil, . , * .] I * * * * ! ] ] * . ' !
30
Spindle activity, cotton. ,_____. . . . . . . ......... ;
39
Steel (raw) and steel manufactures . . * . , . , 22, 23, 31, 32
Steel scrap.____'..____. . , , . , , . . . . , . . , . . , , , . , » »
31
Stock market customerfinancing. .____. - . . . . . ; . . .
20
Stock prices, earnings, sates, etc, . , . , . . , . . . . . . , , 20,21
Stone, clay, «lass products. . . . . . . . . 4-6, 9, 13-15, 19, 38
Sugar.,..,. . . . . . . . , , » , , . . , , . . . . . . . . . . . . . . . . . 23,29
SttKur.,,...,,,.,,..,.,.,.,,., ...... .........
25
Sulfuric acid, . . , . . . . . . . . , . , . ..... . . . , . . . . . , » ,
24
Superphosphate. .. . . . . ...... . , , . . . , . , . , . . , , , .
25
Tea imports. . . ._____, . . . . . . . . . . . . , . , , . , , , , , , .
29
Telephone and telegraph carriers . . . . . . . . . . .____.
24
Television and radio, , . . . . . . , . , . . . , ...... , . » 4,11,34
Textiles and products. , . , 4-6, 9, 13-15, 19, 22, 23, 38-40
Tin,. ................ , , , , , , , , , , . ; , . . » , . , . , . ,
33
Tires and inner tubes. . . . . » , , , . . , , . , ; , » . , 9,11,12,37
Tobacco and manufactures . . . . . . . . 4-7,9, 11, 13-15, 30
Tractors. ...... ...... . ......
t
...... . . . 4 ' . ... ..
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
O.S, Government bonds.____, . . , . , . . . . . ____ 16-18, 20
U»S, Government finance. , , . » , . » . , , , , , , . » , , , , ,
18
Utilities, ,_____. . . . . . . . . . . . . . ...... 2-4,9, 19-21,25,26
Vacuum cleaners. , , ........ , . , ..... » ........ .
34
Variety stores____, ..... ...... . ...... ...... . . . 11, 12
Vegetable oils. . . , , . . . . . , . . . . , , . , . . , . . . , . , , 23,29,30
Vegetables and fruits. . . . . . . . . . . . . . ....... . . . . . 7, 8
Veterans* benefits, , . . , , , . . . . , . . , . , , . , . . , , . , , » ,
16
Wages and salaries ........ . . » . , , , , . . , , . . . . , . , 2, 3, 15
Washers and dryers, . . .____, .......... . ...... ,,
34
Water heaters, , . . . . ;____, . . - , , 1 . . . . . . . . ...... . .
34
Wheat and wheat 0our, , , . , , ..... . . . ..... . . . . . 27, 28
Wholesale price indexes. . . . . . . . . ...... . . . . ---- 8,9
Wholesale trade . , . , . , . . . . . , , , ......... 5, 7, 11, 13-15
Wood pulp. . » , , , . , , . . , ..... , . . . , . , , , . . , . . . . .
36
Wool and wool manufactures,
...............
. . . 9, 39
Zinc.
33
j
i
UNITED STATES
GOVERNMENT PRINTING OFFICE
PUBLIC DOCUMENTS
DEPARTMENT
WASHINGTON, D.C. 204O2
OFFICIAL BUSINESS
NEW DATA FOR A BETTER UNDERSTANDING OF THE IMPACT
MULTINATIONAL COMPANIES HAVE ON THE
U.S. ECONOMY AND INTERNATIONAL TRADE
just published by the Bureau of Economic Analysis in
Special Survey of US. Multinational Companies, 1970
Both domestic and international operations are covered in aggregate
for 298 U.S. multinational companies, including U.S. parents and their
5,200 majority-owned foreign affiliates. Data for 1966 and 1970 are given
by industry in the United States and abroad, by area, for:
* Assets, liabilities, and net worth
i^r Employment and payroll costs
* Total income, sales, and expenses
Plus
* U.S. exports and imports associated with
these multinationals
Copies of Special Survey of lf,S. Multinational Companies, 1970 can
be purchased from the National Technical Information Service, U.S.
Department of Commerce, Springfield, Va. 22151. The price of the
100-page study is $3.00 in paper copy and $0.95 in microfiche.
Please mention accession number COM 72-11392 when ordering. Make
check payable to the National Technical Information Service.
@FedFRASER