Full text of Survey of Current Business : October 1969
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
OCTOBER 1969 / VOLUME 49 NUMBER
10
SURVEY OF CURRENT BUSINESS
CONTENTS
THE BUSINESS SITUATION
Summary
1
U.S. Department of Commerce
National Income and Product Tables
8
Maurice H. Stans / Secretary
Midyear Budget Review
12
Office of Business Economies
Regional Income, Second Quarter 1969
14
ARTICLES
Homebuilding Activity in 1969
16
The International Investment Position
of the United States in 1968
23
Albuquerque, N. Mex. 87101
U.S. Courthouse Ph. 843-2386.
Anchorage, Alaska 99501
306 Loussac-Sogn BIdg. 272-6531.
Atlanta, Ga. 30303
75 Forsyth St. NW. 526-6000.
Baltimore, Md. 21202
305 U.S. Customhouse 962-3560.
Birmingham, Ala. 35205
908 S. 20th St. Ph. 325-3327.
Boston, Mass. 02203
JFK Federal BIdg. 223-2312.
Buffalo, N.Y. 14203
117 Eilicott St. Ph. 842-3208.
Charleston, S.C. 29403
334 Meeting St.
Ph. 577-4171.
Charleston, W. Va. 25301
500FRASER
Quarrier St. Ph. 343-6181.
Digitized for
Rocco C. Sieiliano / Under Secretary
George Jaszi / Director
Morris R. Goldman / Associate Director
Leo V. Barry, Jr. / Statistics Editor
Billy Jo Hurley / Graphics
STAFF CONTRIBUTORS TO THIS ISSUE
Business Review and Features:
Francis L. Hirt
Joseph €. Wakefield
Robert B. Bretzfelder
Articles:
Donald A. King
June S. Jenner
David T. Devlin
Frederick Cutler
CURRENT BUSINESS STATISTICS
General
S1-S24
Industry
S24-S40
Subject Index (Inside Back Cover)
Cheyenne, Wyo. 82001
6022 U.S. Federal BIdg.
Ph. 634-5920.
Chicago, III. 60604
1486 New Federal BIdg.
Ph. 353-4400.
Cincinnati, Ohio 45202
550 Main St. Ph. 684-2944.
Cleveland, Ohio 44114
666 Euclid Ave.
Ph. 522-4750.
Dallas, Tex. 75202
1114 Commerce St. 749-3287.
Denver, Colo. 80202
16419 Fed. BIdg., 20th & Stout Sts.
Ph. 297-3246.
Dea Moines, Iowa 50309
609 Federal BIdg.
Ph. 284-4222.
Detroit, Mich. 48226
445 Federal BIdg. Ph. 226-6088.
Greensboro, N.C. 27402
258 Federal BIdg.
Ph. 275-9111.
Hartford, Conn. 06103
450 Main St. Ph. 244-3530.
Honolulu, Hawaii 96813
286 Alexander Young BIdg.
Ph. 546-5977.
Houston, Tex.
515 Rusk Ave.
77002
Ph. 226-4231.
Jacksonville, Fla. 32202
400 W. Bay St. Ph. 791-2796.
Kansas City, Mo. 64106
911 Walnut St. Ph. 374-3141.
Los Angeles, Calif. 90024
11000 Wilshire Blvd. 824-7591.
Subscription prices, including weekly statistical sup*
plements, are $9 a year for domestic and $12.75 for
foreign mailing. Single issue $1.00.
Make checks payable to the Superintendent of Documents and send to U.S. Government Printing Office,
Washington, D.C. 20402, or to any U.S. Department of
Commerce Field Office.
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.
Ph. 272-8600.
Minneapolis, Minn. 55401
306 Federal BIdg. Ph. 725-2133.
New Orleans, La. 70130
610 South St. Ph. 527-6546.
New York, N.Y. 10007
26 Federal Plaza Ph. 264-0634.
Philadelphia, Pa. 19107
1015 Chestnut St. Ph. 597-2850.
Phoenix, Ariz. 85025
230 N. First Ave. Ph. 261-3285.
Pittsburgh, Pa. 15222
1000 Liberty Ave. Ph. 644-2850.
Portland, Oreg. 97204
217 Old U.S. Courthouse BIdg.
Ph. 226-3361.
Reno, Nev. 89502
300 Booth St. Ph. 784-5203.
Richmond, Va. 23240
2105 Federal BIdg. Ph. 649-3611.
St. Louis, Mo. 63103
2511 Federal BIdg. 622-4243.
Salt Lake City, Utah 84111
125 South State St. Ph. 524-5116.
San Francisco, Calif. 94102
450 Golden Gate Ave.
Ph. 556-5864.
San Juan, Puerto Rico 00902
100 P.O. BIdg. Ph. 723-4640.
Savannah, Ga. 31402
235 U.S. Courthouse and P.O..
BIdg. Ph. 232-4321.
Seattle, Wash. 98104
8021 Federal Office BIdg.
Ph. 583-5615.
the BUSINESS SITUATION
The third quarter current dollar
rise in GNP amounted to $17% billion.
This exceeded the $16 billion gains of
the earlier quarters of the year mainly
because it included the Government pay
raise of over $3 billion. Overall prices continued to rise sharply. Measured in constant dollars, real output rose 2 percentat
an annual rate, the same as in the second
quarter. Some monthly measures were
indicating a tapering in the rate of expansion of economic activity as the
quarter unfolded.
'URING the summer quarter the
Nation's output of goods and services
increased $17% billion to a seasonally
adjusted annual rate of over $942}£
billion. The third quarter advance in
GNP exceeded the $16 billion advances
of the two preceding quarters mainly
because of the Federal Government pay
raise of approximately $3 billion. The
summer rise in GNP consisted of a
somewhat slower expansion in final sales
and, on the basis of preliminary data,
an increase in inventory investment. It
contained price and physical volume
increases that were similar to those in
the preceding quarter.
The composition of the third quarter
output gain differed from those of the
earlier quarters of this year. The expansion in final sales amounted to $15
billion, but this may be reduced to
about $12 billion if the direct one-time
effect of the Government pay raise is
eliminated. So measured, the summer
rise in final sales lagged considerably
behind the gains of $15% billion in the
second quarter and $20 billion in the
first quarter. The rate of inventory
accumulation (estimated on the basis
of 2 months of source data) accelerated
by $2% billion after virtually no change
in the spring and a decline of nearly
$4 billion in the opening quarter of this
year. Since all of the increase in inventory accumulation was in durable goods
(particularly at retail stores), the summer rise appears to be related to a
leveling off in consumer durable goods
spending—one of the major reasons for
the slowdown in final sales. However,
because consumer spending has behaved
erratically over the past year, the
economic significance of this slowdown
should be assessed cautiously.
As in the preceding quarters of 1969,
both physical volume and prices increased. Of the 7K-percent annual rate
of increase in current dollar GNP,
about 5% percent reflected higher
prices and 2 percent an increase in
physical output. These were roughly
the same changes as in the second
quarter. The third quarter increase in
prices was exaggerated by the Government pay raise; apart from this influence overall prices increased a little
less than in the second quarter. Somewhat slower rates of increase in food,
clothing, and service prices contributed
to the improved price performance.
CHART 1
Third quarter GNP rose $ 171/2 billion
Billion $
30 -
GNP, TOTAL
20 10 -
Final sales showed little change...
30 -
FINAL SALES
20 -
10 -
while inventory investment rose
INVENTORY
INVESTMENT
10 -
tr
10 -
-20 -
Real output increased 2 percent...
Percent
r»t
10 -
CONSTANT $ GNP
Employment and personal income up
The summer advance in production
was accompanied by some easing in the
labor market. Keflecting a sharp increase in September, third quarter
unemployment was 3.7 percent of the
civilian labor force, up from 3.5 percent
in the second, and 3.3 percent in the
first quarter. Employment in nonfarm
establishments recorded an average
gain of 320,000, seasonally adjusted,
from the second to third quarter. This
was the smallest advance since the
-5 -
while prices rose 5Vi percent
10 IMPLICIT PRICE DEFLATOR FOR GNP
5 -
I
II
1967
III
IV
I
II
III
IV
1968
I
II
III
1969
Change From Previous Quarter
Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Office of Business Economics
6
SUEVEY OF CURRENT BUSINESS
third quarter of 1967 and was considerably below the 570,000 increase in
the second and the very large 810,000
addition in the first quarter of the year.
Average weekly hours of work showed
no change from the spring quarter but
average hourly earnings posted another
large increase.
CHART 2
Changes in Components of Final Sales
+ Slower growth in consumption and State and
local government expenditures
• Sharper decline in residential investment
• Payroll increase boosts Federal purchases
PERSONAL CONSUMPTION
EXPENDITURES
20 -
h
10 -
10 BUSINESS FIXED INVESTMENT
n-n
-5 10 -
Major components of final sales
RESIDENTIAL STRUCTURES
5 -
NET EXPORTS
FEDERAL GOVERNMENT PURCHASES
STATE AND LOCAL GOVERNMENT PURCHASES
n-r-n.rhr-n.rn-n
I
II III
1967
IV
I
II III
1968
IV
I II III
1969
Change From Previous Quarter
Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Office of Business Economics
Private wages and salaries scored a
good-sized gain but, mainly because of
the slower growth in employment, the
advance was a little less than in the
second quarter. Reflecting the Federal
pay raise, Government wages and
salaries rose sharply, and the increase
here more than offset the slower growth
in the private sector. Total payrolls
increased $12% billion in the third
quarter, about $1% billion more than
in the spring quarter. However, most
other sources of income, notably proprietors7 income, added less to thirdquarter than to second-quarter income.
On balance, the summer rise in personal
income amounted to $15% billion, about
the same as in the April-June period.
Because individuals were no longer
making the heavy net payments in
settlement of their 1968 tax liabilities,
personal taxes declined in the summer.
With the income gain matching that
of the previous quarter, disposable
personal income advanced at a record
rate of $16% billion. In spite of the
strong rise in income, individuals did
not increase their spending as much as
in the April—June period, and personal
saving moved up sharply. Saving
amounted to 6.4 percent of disposable
personal income, up from a low 5.3
percent in each of the first two quarters
of this year.
69-10-2
The slower expansion in final sales
from the second to the third quater
is attributable to personal consumption
expenditures for durable goods, residential investment, and State and local
government purchases. Federal Government purchases rose considerably more
in the summer than in the spring
quarter and there was a fractional improvement in net exports.
Personal consumption expenditures
increased $8% billion as compared with
$11% billion and $10% billion in the
winter and spring. The slowdown from
the second quarter occurred in household durable goods; expenditures for
autos and for nondurable goods rose
somewhat more in the third quarter
than in the second while the pace of
the advance in service outlays was
maintained.
October 1969
The expansion in total fixed investment, the mainspring in the recent
economic expansion, weakened in the
second quarter and somewhat more
during the July-September period.
Business outlays for plant and equipment continued to advance in the
summer at about the same pace as in the
spring quarter. The recent OBE-SEC
survey of projected new plant and
equipment expenditures conducted this
summer indicates that business expects
no further rise in investment in the
fourth quarter of this year. Reflecting
the continuing cutback in housing
starts, residential investment declined
$lYz billion in the summer. With
stringent money and credit conditions
continuing to depress housing starts
and permits, further reductions in
residential investment are in prospect.
(See the article "Homebuilding Activity
in 1969" in this issue of the SURVEY.)
Federal Government purchases, reflecting the impact of the pay raise,
rose $2% billion. If the payroll increase
were not included in Federal purchases,
nondefense outlays would have been
virtually unchanged and defense outlays would have shown a small decline
of about $l/2 billion, continuing the
trend evident since the beginning of
this year. State and local purchases
rose $2% billion, about $1% billion less
than the increases in the preceding
quarters of 1969. The somewhat slower
expansion this summer largly reflects
a leveling in employment and construction outlays.
Developments During the
Quarter
Some important broad monthly measures of activity—nonfarm employment,
unemployment, personal income, and
industrial production—indicated some
abatement in the rate of expansion
during the quarter (table 1).
Labor markets ease slightly
The labor market produced some evidence of an easing of demand pressures
as the unemployment rate rose from
about 3.6 percent in July and August to
4 percent in September. The September
rate, which was the highest for any
October 1969
month since October 1967 may be overstated somewhat because of possible
inadequacies in the seasonal adjustment factors. A letup in labor market
pressures also was evident in the summer tapering of employment gains.
After posting large monthly increases
averaging 240,000 (seasonally adjusted)
in the first half of the year, nonfarm
employment apparently rose at an
average monthly rate of less than 35,000
during the third quarter; the seasonally
adjusted month-to-month movements
in the July-September period were distorted by the unusually early factory
changeover for new model autos.
Rise in personal income slows
Personal income rose only $2% billion
in September to a seasonally adjusted
annual rate of nearly $760 billion. This
rate compared with increases of $5%
billion in July, $6 billion in August,
and a $5 billion average monthly gain
in the first half of this year. Wages and
salaries accounted for $1% billion of the
September rise in total personal income.
Government payrolls, which made unusually large contributions to wage and
salary gains in July and August because
of the pay raise for civilian and military
personnel, added less than $% billion
to the wage and salary advance in
September. This was about in line with
the monthly additions in the first half
of this year. Private payrolls rose only
about $% billion in September, posting
their smallest monthly gain since April
1968, and rising far less than the average $3 billion increases during the first
8 months of this year. The September
rise in private wages and salaries was
due to higher rates of pay as employment and weekly hours of work were
unchanged from August.
SUKVEY OF CURKENT BUSINESS
Industrial output dips
The Federal Reserve Index of industrial production declined for the second
straight month and in September was
0.5 percent below the July peak of 174.6
(1957-59=100). Small declines from
August to September occurred in durables, nondurables, mining, and utilities. Steel production which had been
in a strong uptrend for about a year,
declined in August and showed little
change in September. Automobile production fell in September from the high
July-August rates. Output of business
and defense equipment eased slightly
from the peak July-August rate.
Retail sales rise
Retail sales, which fell from June to
July, rose about 1 percent in August
and, according to advance reports, by
the same amount last month. The new
high reached in September is mainly
due to the sharp increase in automobile
sales. With unusually strong sales of
the new 1970 model cars, and a rapid
cleanup of the 1969 models, dealers'
sales of new domestic-type autos rose
sharply from a seasonally adjusted
annual rate of 8.3 million units in
August to over 9 million last month.
Retail sales, excluding automobiles,
were unchanged from August.
Wholesale prices higher
Although there were important but
scattered indications that the tempo of
the economic advance may have
slackened a little in the latter part of the
third quarter, inflationary pressures
continued strong. In September, industrial price increases were widespread
with the industrial index rising faster
than in either July or August. However,
rising prices for industrial commodities
were partly offset by falling prices for
farm and food products; the overall
Wholesale Price Index, on a seasonally
adjusted basis, increased a little less
from August to September than from
July to August.
Table 1.—Selected Measures of Economic Activity: Change Over Previous Month
(Seasonally Adjusted)
1069
Unit
July
-1.0
Retail sales
Percent
Employment *
Thous. of persons
Unemployment rates
Percent
- --
..-
Aug.
1.1
Sept.*
1.0
-53
158
-7
3.6
3.5
4.0
$Bil., annual rate
5.3
6.1
2.3
Wages and salaries
$Bil., annual rate
4.3
5.1
1.2
Private payrolls
$Bil annual rate
1.3
4.2
.8
.5
-.2
-.3
Personal income
Industrial production
Durables
Percent
Percent
*Data refer to actual rate, not change.
Preliminary.
1. Nonfarm establishments.
--
Percent
Nondurables
v
-
--
.3
.3
.4
.8
-.5
-.2
SURVEY OF CURRENT BUSINESS
October 1969
CHART 3
* GNP rose $17V2 billion in third quarter—somewhat above second quarter gain
* September nonfarm payroll employment little changed from August
* GNP deflator rose 5 ]/2 percent (annual rate) in third quarter
THE LABOR MARKET
TOTAL PRODUCTION
PRICES
Million Persons
81
Billion $
950
Percent
CIVILIAN LABOR FORCE AND
EMPLOYMENT*
CURRENT DOLLAR GNP*
IMPLICIT PRICE DEFLATOR FOR GNP*
(Change From Previous Quarter)
79
900
Labor Force/
/
Total
850
\
Final Sales
800
75
Employment
Inventory Change
I i i i
750
V
73
Quarterly (III)
Monthly (Sept.)
QBE
Quarterly (II)
BLS
1957-59 = 100
130
CONSUMER PRICES
Percent
Billion $
40
UNEMPLOYMENT RATE*
CURRENT DOLLAR GNP**
(Change From Previous Quarter)
30
125
20
120
Married Men
115
10
110 1 1 i i i i I i i i i i I i i i i i I i i i i i I i i i i i I i i i i i
Million Persons
76
Billion $
Monthly (Aug.)
BLS
Monthly (Sept.)
Quarterly (IN)
Billions
BLS
1957-59 = 100
120
WHOLESALE PRICES
NONFARM ESTABLISHMENTS
(Employees)
72
115
Employment*
(left scale)
,-..
700 -
- 140
110
105
650 -
100 I i i i i I I i i i i i I i i i i i I i i i I i I i i i i i i i i i i i
60
600
Monthly (Sept.)
Quarterly (III)
1957-59=100
Hours
Percent
12
3.20
45.0
130
PRODUCTION OR NONSUPERVISORY WORKERS
(PRIVATE)
CONSTANT DOLLAR (1958) GNP*
(Change From Previous Quarter)
3.00
120
40.0
2.80
110
37.5
2.60
100
42.5
ihllln
BLS
Average Hourly Earnings
(right scale)
WHOLESALE PRICES
Processed Foods
and Feeds
Farm Products
I
1967
I
I
I
1968
Quarterly (III)
*
1
I
I
35.0 I i i i i i.l'l t i i l.l.i i i.i I I i i i I I I i i i i i I i i i i i I 240
1967
1969
QBE
Seasonally Adjusted * *" Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Office of Business Economics
1968
Monthly (Sept.)
111 1 1 1 1 1 1 i
90
1967
1969
BLS
1968
Monthly (Sept.)
1969
BLS
SURVEY OF CURRENT BUSINESS
October 1969
CHART 4
* September rise of $2.3 billion in personal income was substantially below large July-August gains
* Retail store sales reached new peak in September—unit sales of new cars up sharply
* Business fixed investment up further in third quarter
INCOME OF PERSONS
CONSUMPTION AND SAYING
FIXED INVESTMENT
Billion $
100
Producers' Durable Equipment**
75
^ T"
550 -
50
Nonresidenttal Structures**
500 -
25
i
450
Residential Structures * *
i i I i i i
Quarterly (III)
Quarterly (III)
Billion $
35
Billion $
80
RETAIL STORE SALES*
200
25
-
150
20
PLANT AND EQUIPMENT
EXPENDITURES**
Total
30
-
75
/
70
\
15
1
0
Anticipated
60
1 1 1 1
Monthly (Sept.)
Census
Million Units
12
Quarterly (IV)
QBE SEC
Billion $
8
NEW CAR SALES**
MACHINERY AND EQUIPMENT*
(Manufacturing Firms)
Domestic
(left scale)
10
,.0—0
65
Excluding Automotive Group
100
QBE
New Orders
600 -
550 -
4 I i I I I i I i ii I i I I I i i iI i ii ii I i i i i I Iii I i i I 0
500
Quarterly (III)
Monthly (Sept.)
Percent
12
Dollars
2,700
2,600
Trade Sources & QBE
REAL PER CAPITA DISPOSABLE
PERSONAL INCOME**
- (In 1958 Dollars)
Monthly (Aug.)
Census
Million Units
2.5
PERSONAL SAVING RATE*
PRIVATE NONFARM HOUSING**
10
2.0
Starts
2,500
1.5
2,400
1.0
1
2,300
1967
1968
1969
Quarterly (III)
*
Seasonally Adjusted * * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Office of Business Economics
1967
QBE
1
Permits
i
1968
Quarterly (III)
1 M
M 1 i 1 11 1 1
1969
1967
QBE
1968
Monthly Aug.)
1969
Census
SURVEY OF (3UKKENT BUSINESS
6
October 1969
• In third quarter—Inventory investment increased
—Net exports showed further small improvement
•
— Rise in Federal purchases of goods and services reflected recent pay raise
•
INVENTORIES
FOREIGN TRANSACTIONS
Billion $
40
Billion $
12
140
NET EXPORTS**
CHANGE IN BUSINESS INVENTORIES**
(GNP Basis)
30
—
20
-
—
8
-
4
•§
Q
l.ll.IIIIll
0
Quarterly (III)
i
4
i
S^-VT—~".
l
l
I
I
I
To]
^t
-
\^
>/
2.5
-
, , , , > ! , , in i i 1 1 i 1 i i i i t 1 t 1 1 1 1 1 1 1 1 1
3
" ~"\£ V
*«. /
~
V
*
1
2
1 1 1 1 11 1 1 1 1 1 i 11 111 1 1 1 1 1
1 11t 11 t 11 1I
0
\
it 1 1 1 1 11 1 1 1
J-X
Billion $
225
_
-
-•—-^
/^ /V
Inflow
0
.
FT
Census
200
FEDERAL BUDGET**
(NIA Basis)
—
•
^^
- —
>!„..„..•***"
r — —'
*»••••
V*
Monthly (Aug.)
Outflow
Expenditures
175
A
/
60
l
1 1 1 1 1 1 11 1 11 111 1 1 i 1 1 1 1 i
Census
Manufacturing
80
i
QBE
Shipments
-
NET FLOW OF PRIVATE U.S. AND FOREIGN CAPITAL
(Other than Liquid Funds)*
_
t
/\5^£V^ -
2
Monthly (Aug.)
MANUFACTURING AND TRADE INVENTORIES*
(Book Value, End of Month)
i
New Orders
11
M
Imports
Billion $
4
Billion $
120
i
DEFENSE PRODUCTS*
v
ftftf\l
u w
2.0 -
1.5
i
1
Quarterly (III)
/\ J
A fr
Exports
Census & QBE
Monthly (Aug.)
1
4
\-n
140
1
60
Billion $
3.0
150
V-—p-" -
QBE
MERCHANDISE TRADE*
160
-
Defense
I
Quarterly (III)
MANUFACTURING AND TRADE INVENTORIES*
(Book Value, End of Month)
—
80
Billion $
3.5
170
100
100
^-
i
QBE
Total
Merchandise
Billion $
130
120
_>>x
\
^_
FEDERAL PURCHASES OF
GOODS AND SERVICES**
Goods and Services
/
_
10
GOVERNMENT
Billion $
-
— "Deficit^/
-2 -
—
s^S
\
150
Receipts
Trade
40
1 11 1 1 i 1 11 11
H i t li I I I ! 1
1 1 1 II 1 i 1 1 1 1
Census & QBE
Monthly (Aug.)
-4
1
1
1
1
1
1
1
1
INVENTORY/SALES RATIOS*
Manufacturing
1 8 - *^*
2
'
^-^x
^
14
-~tx.x~../
r^
**•*-—»»••
\Tota|
Manufacturing and Trade
1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Mi 1 1 1 1 1 11 1 11
1969
Census & QBE
Monthly (Aug.)
* Seasonally Adjusted * * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Office of Business Economics
1967
1968
i
i
i
i
i
QBE
/'
N/
i i i
1967
125
y\Ar
\ \ .
Liquidity Basis
4
i
STATE AND LOCAL PURCHASES
OF GOODS AND SERVICES**
Official Reserve Transactions Basis
^Xv\-f/^ ^
-2
i
Billion $
150
r<A^
x
i
Quarterly (III)
BALANCE OF PAYMENTS*
_
i
125
QBE
Billion $
4
Ratio
2.0
1.2
1
Quarterly (II)
\
Quarterly (II)
f
^
^
75
\
, , , N, ,
1968
1 fWl
50
1969
l
l
1967
QBE
i
i
i
1968
i
i
i
i
1969
Quarterly (III)
QBE
69-10-5
SUKVEY OF CUERENT BUSINESS
October 1969
• In September—Industrial production little changed
•
—Bank credit and money supply unchanged
•
—Interest rates reached new high
INDUSTRIAL PRODUCTION
MONEY, CREDIT, AND SECURITIES MARKETS
Index, 1957-59=100
190
240
460
INDUSTRIAL PRODUCTION*
180
420
j? •%
*+*
<r^**
Durable Manufactures
160
\ ^/X-'C.***
rrotoi *^*
'•&\
1 11
MM
fa'Kt
CORPORATE PROFITS**
_
Bank Credit
tlett scale;
380
New Series
^"
_^^-*
S^^~*--*-
^•^^^
^^
1 M t 11 1 M
t 1 M 11M 1 M
Monthly (Sept.)
M
300
1 1 I'l 1 i M M 1 .1 1 M 1 1 1 1 M 1
^^
180
60
..
160
40
—~~\
—
t
Billion $
Billion $
2
120
150
125
100
_
Autos
X.
f
FREE RESERVES
^^
f
A i
V
Steel
M 1 M 1 M M 1
"
,/
i
-
1
m^
0
^^^^ *^
s^-
1 M t 1 1 1 1 1 1 I-
-2
M 1 M 1 1 I'M 1
FRB
8
1 1 M 11M I I1
M i 1 i 1 M M 1
l
i
\
40
••
~
"*
t
I
I
t i t
/"***
3-month Treasury Bills
1 1 i 1 1 1 M 1 1 1
1 r 1 M 1 1 M 1 t
0
1M M 1 M 1 1I
32
120
\^
\X*\
V
\N ^>Orx
5*
Shipnicnts
M t r t 1M 11i
1968
Qf\
M M 11M M 1
Monthly (Aug.)
i i
-2
1969
60
4
i. . i
i
t
i
i
t .
BLS
-
1 11M !1 M M
1968
Monthly (Sept.)
—
2
i .il. MM
s~^r
M M 1 1M M 1
-
^
/N/nA
1967
Census
i .1
UNIT LABOR COSTS, PRIVATE ECONOMY*
(Change From Previous Quarter)
100
*vW/^
• •
Percent
6
A^
$*\
1967
niidiiJIJjiji
Quarterly (||)
Standard and Poor's (500)
A
0
I
STOCK PRICES
DURABLE GOODS MANUFACTURERS*
M 1 M f M 1 11
QBE
Compensation
\(K
Monthly (Sept.)
1941-43=10
140
«**S^
i i i
Quarterly (II)
2
FRB
Billion$
36
-
l i t
OUTPUT AND COMPENSATION PER MAN-HOUR,
PRIVATE ECONOMY*
4 - (Change From Previous Quarter)
6
2
1
Quarterly (II)
New Orders
Profits After Taxes
Output
i
r—
^/T
FRB
_
4
i
_
Corporate Yields, Moody's Aaa
80
20
60
INTEREST RATES ANP BOND YIELDS
•
75
QBE
Percent
6
Manufacturing
28
v-^ Monthly (Sept.)
RATIO, OUTPUT TO CAPACITY*
\
t
_
"^^A
Percent
10
85 "" ^x^-—i
t
80
-1
/
Percent
95
_
100
V^-^v
Monthly (Sept.)
90
i
CORPORATE INTERNAL FUNDS AND PROFITS**
I /
\J
M M 1 t M 1 M
i i i
Internal Funds
~\l
\!
\\ Us\
*\
]LsS
"T^w^
A
|
\
t
Quarterly (II)
200
175
i
FRB
Index, 1 957-59 = 100
INDUSTRIAL PRODUCTION*
•..
^S***
-
I t f-i.l 1 1 1 M 1
Monthly (Sept.)
Before Tax and Including IVA
100
80
Money Supply
(right scale)
FRB
220
- 200
340
Nondurat le Manufactures
150
Billion $
1 20
BANK CREDIT AND MONEY SUPPLY*
_
170
PROFITS AND COSTS
Billion $
1 M M i t M 11
1969
-2
t
1967
i
l
l
i
1968
i
i
i
i
i
1969
Quarterly (II)
BLS
* Seasonally Adjusted * * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Office of Business Economics
69- 10-6
SURVEY OF CURRENT BUSINESS
October 1969
NATIONAL INCOME AND PRODUCT TABLES
1968
1967
1968
II
III
1969
1968
II
IV
1967
1968
II
Seasonally adjusted at annual rates
III
1969
II
IV
Seasonally adjusted at annual rates
Billions of current dollars
Billions of 1958 dollars
Table 1.— Gross National Product in Current and Constant Dollars (1.1, 1.2)
Gross national product
Durable goods
Nondurable goods
Services
-
--
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable eouipment
- -
Residential structures
Nonfarm
- -
--
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..
-
865.7
858.7
876.4
892.5
908.7
924.8
942.3
674.6
707.6
705.8
712.8
718.5
723.1
726 7
492.3 536.6
530.3
544.9
550.7
562.0
572.8
581.6
430.3
452.6
449.0
458.2
457.6
462.9
466.2
73.0
215.1
204.2
83.3
230.6
222.8
81.8
228.5
220.0
85.8
233.3
225.8
86.3 88.4
234.3 238.6
230.1 235.0
90.6
242 1
240.1
90.3
246.4
244.9
72.8
190.3
167.2
80.7
196.9
175.0
79.5
195.8
173.7
83.0
198.7
176.5
82.7
197.2
177.7
84.3
199 3
179.3
85 9
199 3
181.0
793.5
- -
Personal consumption expenditures
---
116.0
126.3
126.6
125.2
133.9
135.2
137.4
140.9
100.8
105.7
106.6
104.1
110.9
109.9
110.8
108.6
119.0
116.7
118.0
123.4
128.6
130 5
131 6
93 9
99.1
97 6
97 7
101 4
104 0
104 8
83.7
27.9
55 7
88.8
29.3
59 5
86.4
28.3
58 1
88.1
29.0
59 1
91.5
30.1
61 4
95 3
32.3
63 0
97 8
32 1
65 7
100 5
34.0
66 5
73 6
22.6
51 0
75 8
22.7
53 2
74 0
22.0
52 0
75 0
22.2
52 7
77 3
22 9
54 4
79 4
23 9
55 5
81 0
23 3
57 7
25.0
24.4
30.2
29.6
5
30.3
29.7
29.9
29.4
31.9
31.4
33 S
32.8
32.7
32.2
31.1
30.6
20.3
19.8
23.3
22.8
23.5
23.1
22.7
22.3
24.1
23.7
24.6
24.2
23 8
23.4
7.4
6.8
.6
7.3
7.4
—.1
9.9
10.3
—.4
7.2
7.5
-.3
10.5
10.7
-.2
6.6
6.6
.0
6.9
6.7
.2
9.4
8.9
5
6.9
6.3
.6
6.6
6.7
—.1
9.0
9.4
—.3
6.4
6.7
-.3
9.6
9.8
-.2
5.9
5.9
.0
60
5.8
2
5.2
2.5
3.4
3.6
1.2
1.5
1.6
2.0
3.6
.9
1.3
1.7
-.2
-.3
-.5
46.2
41.0
50.6
48.1
50.7
47.3
53.4
49.7
50.6
49.4
47.6
46.1
57 1
55.5
57 5
55 5
42.1
38.5
45.6
44.7
45 2
43.9
48.0
46.3
45.5
45.7
41.9
42.2
50 4
50 8
180.1
200.3
198.4
202.5
206.7
210.0
212.9
217.8
140.0
148.4
148.9
148.8
150.2
150.6
150.2
90.7
72.4
18.4
99.5
78.0
21.5
99.0
77.9
21.1
100.9
78.8
22.1
101.9
79.3
22.5
101.6
79.0
22.6
100 6
78.5
22.1
103 3
80.6
22.7
74.8
78 9
79 6
79 2
79.4
78.3
76 3
89.3
100.7
99.4
101. 7
104.8
108.5
112.3
114.5
65.2
69.5
69.3
69.6
70.8
72.3
73.9
730.4
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
793.5
865.7
858.7
876.4
892.5
908.7
924 8
942 3
674.6
707.6
705 8
712 8
718.5
723.1
726 7
786.2
7.4
858.4
7.3
848.8
9.9
869.2
7.2
882.0
10.5
902.1
6.6
917 9
69
933.0
9.4
667.7
6.9
701.0
6.6
696.8
9.0
706.3
6.4
709.0
9.6
717.2
5.9
720.7
6.0
9.4
398.4
431.1
429.2
437.0
443.5
447.9
456.5
362.7
381.3
380.8
385.5
388.2
389.1
391.6
Final sales
Change in business inventories
391.0
7.4
423.7
7.3
419 3
9.9
429 9
7.2
433 0
10.5
441.3
6.6
449 6
69
355 7
6.9
374.7
6.6
371 7
9.0
379.1
6.4
378.7
9.6
383.2
5.9
385.7
6.0
Durable goods
Final sales
Change in business inventories
160 9
157 0
39
176 7
171 4
53
175 7
168 9
68
178 8
173 7
51
184 0
176 6
7 4
186 4
181 6
48
190 3
185 5
49
152 0
148 5
35
162 8
158 0
4 7
162 3 164 5
156 2 159 9
61
4 5
167 8
161 2
6.5
169 0
164.8
4.2
171 4
167 3
4.1
237.5
234 1
3.5
254 4
252 3
2.0
253 5 258 3
250 4 256 1
21
31
259 5 261 5 266 2
256 4 259 7 264 1
18
31
21
210 7
207 3
34
218.6
216 7
1.9
218 4
215 5
2.9
221.1
219 2
1.9
220.5
217 5
3.0
220.2
218.4
1.7
220.2
218 4
1.9
316.7
347.5
343.4
353.2
358.5
365.8
373.4
249.1
259.9
258.9
262.4
262.7
264.6
267.0
78.4
87.1
86.0
86.1
90.6
94.9
94.8
62.9
66.4
66.2
64.8
67.5
69.3
68.0
Goods output
-._
Nondurable goods
Final sales .
Change in business inventories
Services
__
Structures
_
__
.
_
730.4
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
"Preliminary.
793.5
865.7
858.7
876.4
892.5
764 9
779 2
794 o
708 2
770-5
681 0
656 6
24.4
740 6
715 7
24 9
734 6
709 8
24 8
749 3
724 1
25 2
763 1
738 4
24 7
22 7
25 2
25 4
25 0
26 0
45
85.3
4 7
95.2
49
93 8
49
97 1
49
98.5
908.7
924 8
942.3
674.6
707.6
705.8
712.8
718.5
723.1
726.7 730.4
658.3
662.6
665.8 669.2
822 7
836 1
617 0
647 9
646 1
652.6
776 7
751 1
25 7
790 5
763 0
27 6
803 3
775 6
27 7
597 3
573 5
23 7
627 5
604 2
23 3
625 3
602 3
23.0
632 1
608.8
23.4
637.5
614.6
22.9
641.5
617.8
23.7
644.8
621.1
23.7
648.1
624.0
24.1
27 2
28 3
39
29 0
15 4
15 9
16 1
15.7
16.2
16.8
17.2
17.5
4.3
3.7
3.7
60.9
61.1
808 5
4 5
100.2 102 1
38
10U 2
43
57.6
4 5
59.7
47
59.8
4 7
60.2
4 6
60.2
60.5
SURVEY OF CUKKENT BUSINESS
October 1969
1969
1968
1967
1968
II
III
9
IV
I
II
1968
1967
Hip
1968
73.7
74.6
75.9
77.2
Less: Indirect business tax and nontax
70.1 77.9 77.0 79.4 81.4 83.3 85.7
liability
3.5
3.4
3.4
3.2
3.4
3.5
3.6
Business transfer payments
-1.0 -2.5 -1.6 -3.3 -3.4 -4.2 -6.5
Statistical discrepancy
Plus: Subsidies less current surplus of
government enterprises.
1.4
.8
.7
1.1
.9
1.1
.9
88.2
3.6
1.2
654.0 714.4 707.4 724.1 737.3 751.3 765.7
Equals: National income
Less: Corporate profits and inventory
valuation adjustment
. - . 79.2
Contributions for social insur42.4
ance
Wage accruals less disburse.0
ments
Plus: Government transfer payments
to persons
. - - -Interest paid by government
(net) and by consumers
Dividends
Business transfer payments
Equals: Personal income
78.6
725.0 792.4 785.6 802.6 817.9 832.8 847.6 863.8
Equals : Net national product
II
Hip
654.0 714.4 707.4 724.1 737.3 751.3 765.7
National income
793.5 865.7 858.7 876.4 892. 5 908.7 924.8 942.3
73.0
I
Table 6.—National Income by Type of Income (1.10)
Table 4.—Relation of Gross National Product, National Income,
and Personal Income (1.9)
73.3
IV
Billions of dollars
Billions of dollars
Less: Capital consumption allowances . 68.6
III
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Gross national product
II
1969
87.9
88.2
90.6
90.3
89.5
89.2
47.0
46.5
47.6
48.6
52.7
53.8
55.1
.0
.0
.0
.0
.0
.0
.0
Compensation of employees _
Private
Military
Government civilian .
55.8
55.3
56.7
58.1
60.1
61.3
62.4
23.6
21.5
3.2
26.1
23 1
3.4
25.7
22.9
3.4
26.4
23 6
3.4
27.4
23 8
3.5
27.9
23 8
3.5
28.5
24 3
3.6
28.9
24 9
3.6
- . 629.4 687.9 680.1 696 1 711 2 724 4 740.5 756 2
337.3 369.0 364.5 372.7 382.8 392.5 402.0 410.0
16.2 18.0 17.6 18.7 18.3 18.2 18.4 20.1
70.0 78.0 76.8 79.3 80.9 82.5 84.0 86.6
48.6
48.0
49.1
50.2
52.7
53.8
55.0
24.4
24.1
24.7
25.3
27.3
27.9
28.6
22.1
24.2
23.9
24.5
25 0
25.5
26.0
26.4
18.4
3.7
20.1
4.1
61.9
63.8
63.6
64.1
64.1
64.6
66.5
67.3
47.2 49.2
Business and professional .
Income of unincorporated enter47.5 49.9
prises
Inventory valuation adjustment . . -.3 —.7
49.2
49.3
49.7
49.7
50 1
50.5
Supplements to wages and salaries. .. 43.9
Employer contributions for social
21.8
insurance
Other labor income
Employer contributions to private pension and welfare funds
Other .
Proprietors' income
48.8
467.4 513.6 507.0 519.8 532.3 546.0 558.2 571.7
423.5 465.0 459.0 470.7 482.1 493.3 504.3 516.6
Wages and salaries..
Farm
Rental income of persons
Corporate profits and inventory valuation adjustment _
.
Profits before tax
Profits tax liability
Profits after tax.. .
Dividends
Undistributed profits
Inventory valuation adjustment
Net interest.
..
...
14.7
14.6
14.3
14.8
14.4
14.9
16.4
16.8
20.8
21.2
21.2
21.2
21.4
21.5
21.6
21.7
79.2
87.9
88.2
90.6
90 3
89.5
89.2
80.3
91.1
90.7
91.5
94 5
95.5
95 4
33.0
47.3
21 5
25.9
41 3
49.8
23 1
26 7
41.1
49.7
22 9
26.7
41.4
50.0
23 6
26.5
42 9
51.6
23 8
27 8
43
52
23
28
43 6
51 8
24 3
27 5
-1.1 -3.2 -2.6
24.7
28.0
27.5
4
2
g
4
24.9
-.9 -4.2 -6.1 -6.2 -3.6
28.4
29.3
29.8
30.3
30.9
Table 5.—Gross Auto Product in Current and Constant Dollars
(1.15, 1.16)
Table 7. —National Income by Industry Division (1.11)
Billions of current dollars
All industries, total
Gross auto product l
28.6
35.9
36.3
36.0
37.5
37.5
Personal consumption expenditures . 24.9 30.2
Producers' durable equipment
4.4
5.3
Change in dealers' auto inventories.. -.5 1.0
29.2
5.1
2.4
31.7
5.6
-.6
31.4
5.5
1.5
30.9 31.4
5.4
5.5
1.1 -1.4
Net exports
Exports
Imports
34.5
-.5
1.2
1.7
-.8
2.0
2.8
-.7 -1.0 -1.2
2.0
2.0
2.0
2.7 3.0
3.2
-.2 -1.4
2.3
2.3
2.5 3.7
25.5
2.9
32.4
4.3
32.9
4.2
33.4
4.6
Addenda:
New cars, domestic J _.
New cars, foreign .
32.6
4.3
33.9
4.7
30.7
5.4
Billions of 1958 dollars
Gross auto product l- . .
28.7
35.1
35.6
35.2
36.2
36.2
Personal consumption expenditures. 25.0
Producers' durable equipment
4.5
Change in dealers' auto inventories. . -.5
29.4
5.2
1.0
28.6
5.1
2.4
30.9
5.5
-.6
30.2
5.4
1.5
29.7 30.1
5.3
5.4
1.1 -1.3
Net exports
Exports. ..
Imports
-.5
1.3
1.7
-.8
2.0
2.8
-.7 -1.0 -1.2
2.0
2.0
1.9
2.8 3.0
3.2
-.2 -1.4
2.3
2.3
2.5
3.7
26.0
3.0
32.1
4.3
32.7
4.2
32.7
4.5
33.0
Addenda:
New cars, domestic 2
New cars, foreign _ .
32.4
4.3
33.3
4.6
30.0
5.3
i* ShJgro^s auto Product total includes Government purchases
gr SS aUt producttotal bv
foretencars.
ca?f
°
°
the markup on both used cars and
foreign
p Preliminary.
364-132 O - 69 - 2
654.0 714.4 707.4 724.1 737.3 751.3 765.7
Agriculture, forestry, and fisheries
Mining and construction
Manufacturing
Nondurable goods
Durable goods
21.5 21.9 21.6 22.2 21.9 22.6 24.2
39.4 42.9 42.6 43.1 44.4 45.9 47.8
195.6 215.4 213.9 218.2 222.7 225.3 228.9
75.7 82.9 82.0 84.2 85.4 86.1 88.3
119.9 132.5 131.9 134.1 137.3 139.1 140.5
Transportation
Communication
Electric, gas, and sanitary services
Wholesale and retail trade
25.1 27.2 27.0 27.5 27.8 28.2 28.9
13.1 14.2 13.8 14.4 14.9 15.3 15.6
12.6 13.7 13.4 14.2 13.9 14.2 14.2
97.5 105.2 104.5 106.6 107.8 109.5 111.7
Finance, insurance, and real estate
Services
Government and government enterprises-.Rest of the world
72.3
78.3
78.2
86.1
77.1
85.2
79.3
86.5
80.9
89.3
82.9
92.1
84.4
93.6
94.1 105.0 103.3 107.1 108.7 110.6 112.5
4.5
4.9
4.5 3.9
4.7
4.9
4.9
Table 8.—Corporate Profits (Before Tax) and Inventory Valuation
Adjustment by Broad Industry Groups (6.12)
All industries, total
Financial institutions
Mutual
Stock . .
Non financial corporations
Manufacturing..
Nondurable goods
Durable goods
Transportation,
communication,
and public utilities
All other industries
79.2
87.9
88.2
90.6
90.3
89.5
89.2
10.5
11.5
11.2
12.1
11.9
12.3
12.7
2.0
8.5
2.1
9.4
68.8
76.4
76 9
78 5
78 5
77.2
76 5
39.0
18.1
20.9
44.4
19.9
24.5
44.9
19 8
25.1
45.4
20 4
25.0
46.2
20 4
25 8
45.1
20 3
24.7
44.9
21 0
23 9
10.8
19.0
11.6
20.4
11 5
20 6
12 0
21.0
11 6
20.7
11.8
20.3
11 7
19.9
SURVEY OF CURRENT BUSINESS
10
1968
1967
1968
II
III
October 1969
1969
IV
I
II
1968
III P
1967 1968
Seasonally adjusted at annual rates
45.9
45.8
46.2
46.7
47.7
48.6
49.6
40.8
44.8
44.4
45.8
46.6
47.3
48.5
49.9
291.7 318.4 314.5 321.9 329.8 338.2 346.0 353.2
260.6 284.3 280.8 287.4 294.7 301.3 308.5 314.9
31.1 34.1 33.8 34.5 35.1 36.9 37.6 38.3
9
Corporate profits and inventory
valuation adjustment
Profits before tax__ _. _ _
Profits tax liability
Profits after tax
_ __
Dividends
Undistributed profits. _ __
Inventory valuation adjustment..
Cash flow, gross of dividends
Cash flow, net of dividends
Gross product originating in
1.2
1.1
75.6 83.9 84.1
76.7 87.2 86.6
33.0 41.3 41.1
43.7 45.8 45.6
20.0 21.5 21.2
23.8 24.3 24.3
-1.1 -3.2 -2.6
1.3
1.4
1.5
1.6
1.7
86.4 86.2 85.2 85.3
87.3 90.4 91.3 91.6
41.4 42.9 43.4 43.6
45.9 47.5 47.9 48.0
21.9 22.2 22.1 22.8
24.0 25.3 25.8 25.2
-.9 -4.2 -6.1 -6.2 — 3. 6
Corporate profits and inventory
valuation adjustment.
Profits before tax
Profits tax liability.. _
Profits after tax
Dividends ...
Undistributed profits
.
Inventory valuation adjustment- _.
Cash flow, gross of dividends
Cash flow, net of dividends
465.0
181.5
145.9
109 2
78.3
96.0
459.0
179.3
144 2
107 9
77 3
94.5
470.7
183.0
147.4
110 8
78.9
97.9
482.1
187.8
150 7
113 1
82.0
99.2
493.3
191.5
153.3
115 5
85 4
100.8
504.3
196.5
156 6
118 3
87 1
102 4
516.6
200.3
159 9
120 9
88 7
106 6
Other labor income
22 1
24 2
23 9
24 5
25 0
25 5
26 0
26 4
Proprietors' income
Business and professional
Farm.
61.9
47 2
14.7
63.8
49 2
14 6
63.6
49 2
14.3
64.1
49 3
14 8
64.1
49 7
14 4
64.6
49 7
14 9
66 5
50 1
16 4
67 3
50 5
16 8
Rental income of persons
Dividends .
. _
Personal interest income
20 8
21.5
48.3
21 2
23.1
54.1
21 2
22.9
53.2
21 2
23.6
54.8
21 4
23.8
56.7
21 5
23 8
57.6
21 6
24 3
58 8
21 7
24 9
59 g
91.4
70.1
92.1
70.2
94.2
72.1
95.6
73.5
96.6
73.8
2.1
6.6
17.6
2.1
7.2
19.7
1.9
7.2
19.4
2.1
7.1
20.0
2.0
7.3
20.5
2.2
7.8
21.3
1.9
8.2
21.9
2.3
8 4
22 1
20.4
22.8
22.3
23.6
23.9
24.9
25 6
Less: Personal contributions for
social insurance
_. 20.6
22.6
22.4
22.9
23.3
25.4
25.9
26.6
97 9
92.7 102.6 107.0 114 2 118 5 117 4
Less: Personal tax and nontax payments
41.4
44.6
44.5
44.9
45.4
46.4
47.3
48.2
39.1
43.0
42.5
43.9
44.7
45.3
46.5
47.8
29.2
31.9
31.6
32.2
32.8
34.5
35.1
35.8
9.1
10.9
10.7
11.1
11.4
11.7
11.9
12. 2
65.2 72.4 72.9
66.3 75.6 75.4
28.2 35.6 35.5
38.1 40.0 39.9
19.1 20.4 20.1
19.0 19.6 19.8
-1.1 -3.2 -2.6
. 79.5
60.4
84.6
64.2
84.4
64.3
74.3 74.3 72.9 72.6
75.2 78.5 79.0 78.8
35.5 37.0 37.2 37.2
39.7 41.5 41.8 41.6
20.7 20.9 20.9 21.5
19.0 20.6 20.9 20.1
-.9 -4.2 -6.1 -6.2 -3.6
84.7
63.9
86.9
66.0
88.1
67.2
88.9
67.4
Gross product originating in
nonfinancial corporations
390.5 415.9 413.9 420.8 425.1 427.7 431.9
Current dollar cost per unit of
1958 dollar gross product
originating 2in nonfinancial
corporations
1.103 1.133 1.130 1.136 1.145 1.157 1.168
Capital consumption allowances
.106 .107 .108 .107 .107 .108 .109
Indirect business taxes plus transfer
payments less subsidies.100 .103 .103 .104 .105 .106 .108
Compensation of employees.
.706 .723 .718 .722 .732 .745 .755
Net interest
.023 .026 .026 .026 .027 .027 .028
Corporate profits and inventory valuation adjustment
.167
Profits tax liability
.072
Profits after tax plus inventory valuation adjustment- _ .095
.174
.086
.176
.086
.177
.084
.175
.087
.170
.087
.168
.086
.088
.090
.092
.088
.083
.082
1. Excludes gross product originating in the rest of the world.
2
-' T ^ Js e qual to the deflator for gross product of nonfinancial corporations, with the decimal
point shiftedJ two places to the left.
3. Personal saving as a percentage of disposable personal income.
p Preliminary.
59.2
58.7
60.1
61.6
63.6
64.9
66 0
30.3
30.3
30.9
31.8
32.4
32.9
33 3
82.9
Less • Personal outlays .
506.2 551.6 545.1 560.2 566.2 577.7 588.8 597.7
Personal consumption expenditures.. 492.3 536.6 530.3 544.9 550.7 562.0 572.8 581.6
Interest paid by consumers
13.1 14.2 14.0 14.4 14.7 15.0 15.2 15.4
Personal transfer payments to for.8
.8
eigners
.8
.7
.7
.7
.7
.7
Equals : Personal saving
40.4
38.4
42.3
33.2
38.0
32.5
33.3
41.1
Addenda:
Disposable personal income :
Total, billions of 1958 dollars
477.7 497.6 497.4 498.9 502.1 502.6 506.2 514.3
Per capita, current dollars.. __ ... 2,745 2,933 2,924 2,946 2,991 3 014 3,065 3,139
Per capita, 1958 dollars
2,399 2,474 2,476 2,477 2,485 2,482 2,494 2,527
Personal saving rate,3 percent
7.4
6.5
7.2
5.6
6.3
5.3
5.3
6.4
Table 11.—Personal Consumption Expenditures by Major Type (2.3)
Personal consumption expenditures.
492.3 536.6 530.3 544.9 550.7 562.0 572.8 581.6
73.0
83.3
81.8
85.8
86.3
88.4
90.6
90.3
30.5
Automobiles and parts
Furniture and household equipment. 31.3
Other
11.2
37.0
34.2
12.1
35.6
33.8
12.4
38.6
35.0
12.1
39.0
34.6
12.8
39.4
35.5
13.6
40.0
36.8
13.8
41.2
35.8
13.3
Nondurable goods
Dollars
52.0
25.7
Equals : Disposable personal income.. . 546.5 590.0 587.4 593.4 604.3 610.2 622.0 638.8
Durable goods.
Billions of 1958 dollars
423.5
166.5
134.2
100 3
70.5
86.2
91.7
70.2
275.8 300.6 297.0 303.7 311.0 318.7 326.2 332.9
246.6 268.6 265.4 271.5 278.2 284.2 291.1 297.1
Net interest
Wage and salary disbursements
Commodity-producing industries. .
Manufacturing.
Distributive industries
Service industries
G ov eminent
_-
86.4
66.4
Income originating in nonfinancial
corporations
350.1 383.8 380.6 389.2 396.7 403.3 410.7
Compensation of employees
Wages and salaries
Supplements
Hip
Transfer payments
._
Old-age, survivors, disability, and
health insurance benefits
State unemployment insurance
benefits
Veterans benefits
Other.
Gross product originating in
430.6 471.4 467.7 478.0 486.8 495.0 504.5
nonfinancial corporations
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies.
II
629 4 687 9 680 1 696 1 711 2 724 4 740 5 756 2
Personal income
42.6
Income originating in corporate busi367.5 403.5 399.7 409.6 417.4 425.0 433.0
ness
Net interest
I
Table 10.—Personal Income and Its Disposition (2.1)
450.9 494.2 489.9 501.6 510.7 519.9 530.1
Compensation of employees
Wages and salaries
.
Supplements
IV
Billions of dollars
Table 9.—Gross Corporate Product* (1.14)
Gross corporate product . .
III
Seasonally adjusted at annual rates
Billions of dollars
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies
II
1969
Food and beverages. _.
Clothing and shoes. _
Gasoline and oilOther
. . .
ServicesHousing
Household operation
TransportationOther
215.1 230.6 228.5 233.3 234.3 238.6 242.1 246.4
_ 108.1 115.0 114.8 116.1 116.4 118.4 119.1 120.8
42.5 46.3 45.6 47.4 47.3 48.1 50.0 51.0
17.7 19.1 18.8 19.5 19.5 20.4 21.0 21.8
46.8 50.1 49.4 50.3 51.1 51.8 52.0 52.7
204.2 222.8 220.0 225.8 230.1 235.0 240.1 244.9
71.8
29.1
14.7
88.6
77.4
31.2
16.1
98. 1
76.7 77.9 79.8 81.3 82.8 84.5
30.7 31.6 31.9 32.7 33.1 33.9
15.9 16.3 16.5 17.1 17.3 17.7
96.7 100.0 101.8 103.9 106.9 108.8
Table 12. — Foreign Transactions in the National Income and
Product Accounts (4.1)
57.5
Receipts from foreigners
46.2
50.6
50.7
53.4
50.6
47.6
57.1
Exports of goods and services
46.2
50.6
50.7
53.4
50.6
47.6
57.1
57.5
Payments to foreigners.
46.2
50.6
50.7
53.4
50.6
47.6
57.1
57.5
Imports of goods and services
41.0
48.1
47.3
49.7
49.4
46.1
55.5
55.5
Transfers to foreigners
Personal
Government
3.0
.8
2.2
2.9
.8
2.1
2.8
.7
2.0
3.1
.8
2.3
3.1
.7
2.4
2.4
.7
1.7
2.8
.7
2.1
2.6
.7
1.8
Net foreign investment
2.2
-.3
.6
.6 -1.9 -1.0 -1.2
-.6
SURVEY OF CURRENT BUSINESS
October 1969
1968
II
III
IV
I
II
1967
III*
1968
II
Table 13.—Federal Government Receipts and Expenditures (3.1, 3.2)
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax
accruals
Contributions for social insurance. ..
Federal Government expenditures
Purchases of goods and services
National defense
Other
67.5
30.6
79.5
38.3
74.7
38.1
83.7
38.4
87.4
39.8
16.3
36.7
18.0
40.5
17.9
40.1
18.3
40.9
18.5
41.7
93.8
40.2
96.9
40.5
94.9
18.5
45.6
18.6
46.4
18.9
47.4
188.5 189.3 193.7
99.0 100.9 101.9
77.9 78.8 79.3
21.1 22.1 22.5
101.6 100.6 103.3
79.0 78.5 80.6
22.6 22.1 22.7
Transfer payments
To persons
To foreigners (net)
42.2
40.0
2.2
47.8
45.7
2.1
47.6
45.5
2.0
48.7
46.5
2.3
50.0
47.6
2.4
50.8
49.1
1.7
52.1 52.7
50.0 50.9
2.1 1.8
Qrants-in-aid to State and local governments -.
15.9
18.3
18.2
18.4
19.0
19.0
19.3
19.8
Net interest paid
10.3
11.6
11.4
11.7
12.2
12.5
12.9
13.1
Subsidies less current surplus of government enterprises
4.1
4.6
4.4
4.6
4 4
-.1
9.6
13.0
Personal consumption expenditures
Durable goods
Nondurable goods
Services
4.7
4.3
4.8
(3.3, 3.4)
93.2 106.2 104.7 108.0 111.4
15.4
Personal tax and nontax receipts
2.4
Corporate profits tax accruals
Indirect business tax and nontax
53.8
accruals
Contributions for social insurance. .. 5.7
Federal grants-in-aid
15.9
18.9
3.0
19.5
3.1
20.5
3.1
21.5
3. 1
22.5
59.9
6.5
18.3
59.2
6.4
18.2
61.1
6.6
18.4
62.9
6.9
19.0
64.8
7.1
19. 0
67 1
7.4
19.3
69.3
7.7
19. 8
115.7 120.0 119.6 120.8 121.7 123.7 124.5
Nonresidential
113.7 117.1 116.7 117.6 118.4 120.1 120.8
Structures
Producers' durable equipment
Residential structures .
Nonfarm
Farm
Change in business inventories
Exports
Imports .
89.3 100.7
8.8 10.0
.2
.3
3.4
121.3 126.2 124.5 127.4 128.3 129.8 131.9
137 1 145 0 143 4 146.2 148.1 150.1 151.9
Table 17.—Implicit Price Deflators for Gross National Product by
Major Type of Product (8.2)
Goods output.
Durable goods
Nondurable goods
117.6 122.3 121.7 122.9 124.2
125.7 127.3 129.0
109.9 113.0 112.7 113.4 114.2 115.1 116.6
105.9 108.5 108.2 108.7 109.7 110.3 111.1
112 7 116 4 116 1 116 8 117.7 118.8 120 9
127.2
133.7 132.7 134 6 136.4 138.2 139.8
124.6
131., 130.0 132.9 134.1 137.0 139.4
99.4 101.7 104.8
9.8 10.2 10.5
.4
.3
.3
108.5 112.3 114.5
11.0 11.3 11.6
.4
'm 4
> 4
Addendum:
-.8
3. 5
3. 5
Gross auto product
-1.8 -2.1
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)
133.7 135.1 139 6 132 6 136 3
Personal saving
40.4 38 4 42 3
Undistributed corporate profits
25.9 26.7 26.7
Corporate inventory valuation adjustment
— 1 1 —3 2 —2 6
Corporate capital consumption
allowances
42 6 45 9 45 8
Noncorporate capital consumption
allowances
26.0 27.4 27 2
Wage accruals less disbursements
.0
.0
.0
33 2
26.5
g
130 7 131 8
38 0
27.8
32 5
28.' 4
33 3
27.5
4 2
6 1
fi 9
q ft
41 1
46 2
46 7
47 7
48 6
An «
27 5
.0
27 9
.0
28 2
.0
28 6
.0
29 0
.0
10 8
35
g
7 8
in Q
— 12 7 —5 2 —9 5
—1 8 —1 5
13
2g
7
1
g
a
•10 n
o i
118.2 125 9 127 2 125 8 132 0
Gross private domestic investment. 116.0 126.3 126.6 125.2 133.9
6
g
Net foreign investment
2.2 — 3
19
Statistical discrepancy. . . .
— 1 0 —2 5 — 1 6
33 34
9
1 o
134 2
toe o
140 A.
135.2 137.4 140.9
c
1 0 .... 1 O
4 2
C f
99.7 102.5 101.9 102.3 103.6 103.7 104.4
3. 6
Private
Government surplus or deficit (—),
national income and product
accounts
— 14 5 —6 7
109 7 110 9 112.1 111.3 111.3 113.5 113.4
106.5 107.6 107.8 107.5 108.2 109.2 109.2
Services
-.7
123.1 129.7 128.7 131.5 132.4 135.3 137.1
123 1 129.8 128.7 131.6 132.5 135.4 137.2
122.8 125.9 126.1 126.2 126.1 127.5 130.4
Structures
3.5
» Preliminary
123.6 129.3 128.7 130.6 131.4 135.3 137.8
109 2 111 9 111 6 112 1 113.0 113.5 113.9
116.3 120.5 122.9
3.5
Gross investment
100 3 103.3 102.9 103.4 104.5 104.9 105.5
113.0 117.1 116.7 117.5 118.8 119.8 121.5
122 1 127 3 126 6 127.9 129.5 131.0 132.7
108.7 112.2
Surplus or deficit (—), national
income and product accounts. . . -1.8 -1.5 -1.3
Federal
State and local. .
125.7 127.3 129.0
114.4 118.6 118.1 118.9 120.4 121.4 122.9
Fixed investment
Gross national product
18.0
3.0
95.0 107.6 106.0
3.3
114.5 118.5
18.4
3.0
3.4
Gross private saving
117.6 122.3 121.7 122.9 124.2
Government purchases of goods and
128.7 135.0 133.3 136.2 137.6 139.5 141.8
services
Table 14.—State and Local Government Receipts and Expenditures
Purchases of goods and services
Transfer payments to persons
Net interest paid _
Less: Current surplus of government
enterprises
III*
Gross private domestic investment
Federal
State and local
State and local government expenditures
II
Net exports of goods and services
Surplus or deficit (— ), national
-12.7 -5.2 -9.5 -2.8
income and product accounts
State and local government receipts
I
Table 16.—Implicit Price Deflators for Gross National Product (8.1)
Gross national product
198.1 202.3
163.8 181.5 180.3 184.2 187.4
90.7 99.5
72.4 78.0
18.4 21.5
IV
Index numbers, 1958=100
Billions of dollars
151.1 176.3 170.8 181.4 187.3
III
Seasonally adjusted
Seasonally adjusted at annual rates
Federal Government receipts .
1969
1968
1969
1968
1967
11
117.6
122.3
121.7
122.9
124.2
125.7
127.3
129.0
114.8
118.9
118.4
119.4
120.6
122.0
123.6
124.9
Business
N on farm
Farm
114 0 118 0 117 5 118 5 119 7 121 1 122 6 123 9
114 5 118 5 117 8 118.9 120 1 121 6 122 8 124 3
102 9 106 8 108 0 107 8 107 9 108 5 116 3 115 0
Households and institutions
147.2 158.6
General government
148.1 159.4
156.9 161.3
163.6
165.6
167 5 173 7
HISTORICAL DATA
Historical national income and product data are available
from the following sources:
1965-68: July 1969 SURVEY OF CURRENT BUSINESS.
1964: July 1968 SURVEY OF CURRENT BUSINESS.
1929-63: The National Income and Product Accounts of the
United States, 1929-65, Statistical Tables (available from any
U.S. Department of Commerce Field Office or from the Superintendent of Documents, U.S. Government Printing Office,
Washington, D.C. 20402, price $1.00 per copy).
SURVEY OF CUKKENT BUSINESS
12
October 1969
Midyear Budget Review
from that in the January budget but is
$400 million below the estimate of last
spring. This reduction is the net result
of several developments which are partially offsetting. Underlying the new
estimate of receipts is the assumption
that calendar 1969 GNP will reach $932
billion, an increase of $5 billion from
the estimate of last spring. Personal income is estimated at $745 billion—$6
billion more than in the spring—and
corporate profits before taxes are now
projected to be $94% billion, or $2%
billion below the last estimate. The net
THE administration has released new effect of these changes is to increase
estimates of Federal receipts and ex- receipts by $200 million.
penditures for fiscal year 1970 following
This is offset by a $200 million
its midyear review of budget programs. reduction—to $1.3 billion—in the exAlthough the budget surplus is down pected take from the proposed repeal of
$400 million from the estimates of last the investment tax credit. In addition,
spring, the new data continued to sug- all other administration proposals—
gest a more restrictive fiscal policy for such as tax reforms and user charges—
the fiscal year than was shown in the are currently estimated to yield about
January budget. This is evidenced by a $800 million, a decline of $400 million
$5.9 billion surplus now projected as from the projection of last spring.
compared with the $3.4 billion surplus
Extension of the surcharge is still
in the January budget.
expected to yield over $7.5 billion—
The current estimate of receipts— $5.6 billion from the 10 percent exten$198.8 billion—is only slightly changed sion already enacted through December 31, 1969, and $2.0 billion from the
Unified Budget Receipts and Expenditures, proposed 5 percent rate in the first
Fiscal Years 1969 and 1970
half of 1970. Unlike the January
[Billions of dollars]
budget, neither the spring review or the
latest estimates incude any increases in
1970 estimate
social security tax rates or in the wage
1969
actual Jan.
Spring Midbase.
budget review year
The latest review of the fiscal 1970
Federal budget shows small reductions
in both estimated receipts and expenditures from the review last spring. Thus,
the latest review continues to show a
considerably more restrictive fiscal
policy than that contained in the
January budget. The latest budget
estimates assume a 5-percent tax surcharge during the second half of this
fiscal year and a decline in defense
spending.
review
Receipts
. ..
Expenditures
198.7
199.2
198.8
Budget expenditures reduced
183.3
194.4
192.0
191.9
The new estimates put unified budget
expenditures at $191.9 billion, a decrease of $2.5 billion from the January
estimate, but of only $100 million from
the spring estimate (see April SURVEY).
The latest review suggests that certain
4.6
4.3
7.1
6.9
Plus: Net lending
1.5
.9
.8
1.0
(-).
Equals: Surplus or
deficit.. .
3.1
3.4
6.3
5.9
Revisions in Federal Receipts and Expenditures for Fiscal Year 1970, National
Income Accounts Basis
[Billions of dollars]
1970 estimate
1969
actual
Personal tax and nontax receipts..
Corporate profits tax accruals
Indirect business tax and nontax
Contributions for social insurance-
Jan.
budget
Midyear
review
192.3
202.3
201.2
90.5
39.7
94.0
40.2
94.7
38.8
18.5
43.6
19.2
48.9
19.3
48.4
Federal Government expenditures. . 187.4
199.6
196. 1
101.2
78.9
22.3
105.6
82.2
23.4
101.5
78.1
23.4
50.4
48.3
2.1
54.9
52.8
2.1
55.6
53.5
2.1
18.9
12.3
23.0
12.2
21.7
13.3
4.5
3.9
4.0
4.9
2.7
5.1
Purchases of goods and services. _.
Other -
187.8.
Surplus, or deficit (— )
on expenditure
account
expenditure categories will be about
$3.7 billion higher than estimated in
the spring, but, that this will be fully
offset by expenditure reductions in other
categories.
Major increases are expected in
expenditures for: (1) expanding the food
stamp program; (2) higher costs of the
medicare and medicaid programs; (3)
increased cost of servicing the debt due
to higher interest rates; and (4) higher
payments to social security beneficiaries, veterans, and civil service annuitants. These and other smaller increases
are offset by a further reduction of $3
billion in military and military assistance programs and by expenditure cuts
for the Model Cities program, highway
related programs, and airways and airports development.
Grants-in-aid to State and local
Subsidies less current surplus of
government enterprises
Surplus or deficit (-), national
income and product accounts -
SURVEY OF CURRENT BUSINESS
October 1969
National income accounts budget
minish during the fiscal year from the
On a national income accounts basis, $13 billion surplus reached in the second
the new estimates indicate that receipts quarter of 1969—the largest such surplus since the early 1950's. In the first
will be $1.1 billion lower and expendihalf of fiscal year 1970, the surplus will
tures $3.5 billion lower than estimated be smaller because personal taxes will
in January. These revisions result in a no longer reflect the unusually high
surplus of slightly more than $5 billion settlements due to the surcharge and
for fiscal year 1970. Details are shown because of the Federal pay raise of
in the accompanying table.
more than $3 billion in the third quarter
However, the NIA surplus will di- of 1969. The surplus will continue to
13
decline in the second half of the fiscal
year when the surcharge is either removed or extended by only 5 percent
as now proposed by the administration.
Also effecting the surplus in the second
half is the proposed increase of about
$2.8 billion (annual rate) in social
security benefits effective in March
1970. There is no proposed increase in
social security taxes or wage base in
fiscal year 1970.
The Anatomy of Federal Accounts
THE Office of Business Economics is
constantly engaged in analysis of the
accounting data published by the
Treasury Department, Bureau of the
Budget, and individual Federal Government agencies. Beginning with the
official Federal budget, as presented
in Treasury publications, a conceptual
transformation is carried out to derive the economic statement of
Federal receipts and expenditures
which is articulated with the other
national income and product accounts. (See, for instance, page 11 of
this issue of the SURVEY OF CURRENT
BUSINESS.)
To explain the relations of administrative and economic accounting,
Mrs. Marilyn Rice of this office has
prepared a reference work entitled
"The Anatomy of Federal Accounts."
It interprets the Government's administrative statements and describes
the economic statements of Federal
receipts and expenditures more exactly than ever before. The plan of
the work is a step-by-step modification of the former to the latter, using
actual figures for one fiscal year.
Along the way conceptual reasoning,
data sources, estimating procedures,
and statistical assumptions are
spelled out.
Going beyond the usual detail of
the national accounts, the study presents Federal receipts and expenditures on a fully gross basis and includes the balance sheet which is
implied by the Statement of receipts
and expenditures. Uniform transactions statements and balance sheets
are presented for each individual
agency as well as for the Government as a whole
Because of the size and technical nature of the study, only a
limited number of copies have been
reproduced. Distribution has been
made to the Government agencies
most intimately concerned and a copy
has been placed in each Commerce
Department field office so that it
may be available for reference to
economists, accountants, or other
persons with a substantial interest
in Federal accounting. The field offices
are listed on the inside cover of this
SURVEY.
SURVEY OF CURRENT BUSINESS
14
October 1969
Regional Income, Second Quarter, 1969
Personal income in the United States
rose 2% percent, or $16 billion, from the
first quarter of 1969 to the second.
Regionally, the gains were unusually
uniform. Only New England, where income was up 3l/z percent, registered a
gain differing more than half a percentage point from the national average.
The quarterly data on page 15 conform
to the revised annual estimates of
State personal income for 1966-68
presented in the August SURVEY.
WITH income from nearly all major
industries increasing at a brisk pace
from the opening quarter of 1969 to
the spring quarter, total personal income rose by 2% percent, or $16 billion,
at a seasonally adjusted rate. Income
was up 1% percent or more in all eight
regions of the Nation. It rose by 1
percent or more in 42 of the 50 States
and in the District of Columbia, by less
less than 1 percent in five States, and
declined from 1 to 5 percent in the
other three.
Regionally, first to second quarter
advances were unusually uniform. Only
New England—where income was up
3% percent—registered a gain differing
more than one-half of 1 percentage
point from the national average (chart
7). The other regional increases ranged
from highs of about 2% percent in the
Southwest and Far West to lows of
about 1% percent in the Mideast and
Great Lakes. Gains in the Plains,
Southeast, and Rocky Mountain regions varied little from the national
average.
The coefficient of variation of quarterly regional change—the standard
deviation divided by the mean of
regional growth rates in total personal
income—was only 0.22 in the second
quarter. This is the lowest since mid1966 and compares with an average
quarterly coefficient of variation of 0.50
over the past 3 years and with an
average of 0.39 since early 1960.
New England and Great Lakes
The large second quarter income advance in New England appears to be,
at least in part, a reaction to developments in the previous quarter when
income rose less than one-half of 1
percent. An unusually severe snowstorm
in mid-February, which substantially
curtailed economic activity in the first
quarter, was a major factor in the
region's quarterly pattern of income
change.
The first quarter slowdown in income
and the second quarter spurt were
widely distributed by industry in New
England. In the first quarter, relative
changes in wage and salary payments
in seven of the region's eight major
private nonfarm industries were below
the corresponding national average; in
contrast, the gain in the second quarter
in each case was well above the national
pace. There was a lull in the first
quarter and an increase in the second
quarter in six States of the region; only
Vermont and Maine departed significantly from this pattern. In Vermont,
above-average gains were scored in both
quarters, and in Maine income rose at
the national pace in the opening quarter
but fell below it in the second.
One of the smallest regional advances
in the second quarter occurred in the
Great Lakes where income increased
1% percent. Second quarter wage gains
in six of the eight major nonfarm private
industries were below the national
average. Only in construction and
mining were second quarter gains larger
than average.
Four of the five Great Lakes States—
Indiana, Illinois, Michigan, and Wisconsin —registered less - than - average
second quarter gains. Although the
spring quarter advance in Michigan
was below the national average, it was
(Text Continued on Page 22)
CHART 7
Regional Gains in Personal Income
Unusually Uniform
• Second quarter income gains in seven regions
were close to U.S. average
• The advance in New England was well above
the national average
Percent Change, I-1969-11-1969
0
1
2
3
Plains
Great Lakes
Mideast
NOTE. The quarterly estimates of State personal income
were prepared in the Regional Economics Division by
Marian Sacks under the supervision of Q. Francis Dallavallc.
(Seasonally Adjusted)
U.S. Department of Commerce, Office of Business Economics
4
SURVEY OF CURRENT BUSINESS
October 1969
15
Table 1.—Total Personal Income, by States and Regions
[Millions of dollars, seasonally adjusted at annual rates]
1C 66
State and region
19 67
19 69
19 68
Percent
change
1-69 to
11-69
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
567,043
577,338
589,426
601,511
611,770
618,715
631,142
640,946
660,216
675,973
691,702
706,920
720,351
736,373
2.2
35,530
36,187
36,999
38,054
38,906
39,403
40,232
40,810
41,696
42,781
43,508
44,726
44,920
46,474
3.5
2,385
1,840
1,052
2 416
1,889
1 074
2 462
1,938
1 103
2 515
1,997
1 141
2 496
2,041
1 158
2 530
2,072
1 166
2,586
2,110
1 198
2 616
2,148
1 220
2 686
2 215
1 263
2 722
2,249
1 292
2 770
2,304
1 318
2 849
2,381
1 348
2,901
2,372
1,388
2,933
2,481
1,426
1.1
4.6
2.7
17,310
2,657
10 286
17 544
2,706
10 558
17 902
2,767
10 827
18 377
2,869
11 155
18 887
2,920
11 404
19 169
2 936
11 530
19 464
3 033
11 841
19 740
3 092
11 994
20 340
3 145
12 047
20 793
3,232
12 493
21 100
3 242
12 774
21 663
3,357
13 128
21, 996
3,330
12 933
22, 698
3,429
13, 507
o 2
3.0
4.4
135,639
137 758
140 127
143,132
146 159
147 891
150 310
152 892
157 549
161 043
164 286
168 531
171,694
174,639
1.7
62, 416
23 337
33, 778
63, 358
23 681
34 400
64, 367
24 008
35 048
65, 570
24 624
35, 850
67, 156
25 043
36 682
67 964
25 494
36 820
69,217
25 877
37 366
70 303
26 362
37 906
72 708
26 995
39 054
74, 156
27 631
39 743
75 707
28 200
40 472
77, 625
29 360
41, 140
79, 260
29 322
42, 431
80, 288
30, 228
42, 779
1.3
3.1
.8
-
1,749
11, 283
3 076
1 761
11, 508
3 050
1 775
11,825
3 104
1 810
12, 079
3 199
1 791
12, 262
3 225
1 840
12 424
3 349
1 876
12, 650
3 324
1 914
13 043
3 364
1 948
13 418
3 426
2 018
13, 937
3 558
2 052
14 205
3 650
2 089
14,631
3 686
2 144
14, 776
3 761
2,122
15, 335
3,887
— 1.0
3.8
3.3
.
121,867
124,169
127,359
129,702
130,396
131,091
134,319
135,113
140,272
142,919
145,564
149,228
153,131
155,952
1.8
26, 822
31 162
14, 702
27 339
31 734
15 038
28, 068
32 407
15 431
28 494
33 160
15 624
28 384
33 462
15 862
28 718
33 328
15 818
29 677
34 170
16 099
29 205
34 766
16 334
31 131
36 028
16 822
31 696
36 890
17 055
32 374
37 474
17 353
33, 272
38 211
17 849
33, 249
39 672
18 510
33, 711
40, 662
18, 768
1.4
2.5
1.4
37 212
11, 969
37 882
12 176
38 820
12 633
39 463
12 961
39 861
12 827
40 358
12 869
41 169
13 204
41 452
13 356
42 606
13 685
43 254
14 024
44 007
14 356
45 172
14, 724
46 608
15,092
47, 498
15, 313
1.9
1.5
- -
44,146
45,097
46,064
47,301
46,959
47,614
48,704
49 126
50 822
51,240
52,979
53,521
55,096
56,274
2.1
Minnesota
Iowa
Missouri
10 018
8,095
12 533
10 251
8 284
12 680
10 535
8,294
12 968
10 756
8 634
13 255
10 899
8 125
13 650
11 015
8 309
13 740
11 322
8 736
13 922
11 487
8 596
13 964
11 716
8 902
14 675
11 952
8 993
14 880
12 351
9 493
15 144
12 719
8 840
15 564
13 000
9,660
15 778
13, 110
10,117
15, 943
.8
4.7
1.0
1 565
1 665
3, 988
6 282
1 540
1 685
4 111
6 546
1 603
1 664
4 387
6 613
1 561
1 705
4 488
6 902
1 577
1 652
4 302
6 754
1 638
1 705
4 453
6 754
1 585
1 753
4 417
6 969
1 588
1 815
4*523
7 153
1 674
1 896
4*561
7 398
1 570
1 860
4 637
7 348
1 796
1 877
4 664
7 654
1 809
1 913
4 781
7 895
1 788
1 942
4,944
7 984
1,694
2,062
5,302
8,046
-5.2
6.1
7.3
.8
95,117
97 047
99 165
101 014
104 128
105 269
107 027
109 785
112 618
116 245
119 137
121 016
123,264
126,139
2.3
11 334
3 860
6,954
11 552
3 870
7 058
11 782
3 978
7 311
12 085
4 090
7 387
12 344
4 148
7 722
12 547
4 174
7 618
12 830
4 234
7 824
13 393
4 275
7 964
13 510
4 314
8 190
13 937
4 444
8 473
14 348
4 498
8 612
14 602
4 550
8 789
14 722
4 667
8,866
15, 147
4,722
9,229
2.9
1.2
4.1
8,381
10 936
5,164
8 584
11 293
5 280
8 764
11 569
5 416
8 944
11 758
5 475
9 130
12 061
5 664
9 211
12 186
5 654
9 340
12 348
5 801
9 551
12 995
5 963
9 786
13 147
6 112
10 122
13 581
6 322
10 464
13 882
6 438
10 636
13 961
6 492
10, 848
14 490
6 622
10, 972
14, 768
6,829
1.2
1.9
3.1
10 210
15 155
7 125
10 492
15 494
7 190
10 646
15 973
7 271
10 971
16 153
7 375
11 364
16 880
7 511
11 417
17 276
7 574
11 648
17 774
7 683
11 795
18 100
7 804
12 159
18 709
8 131
12 566
19 374
8 219
12 905
20 008
8 408
13 193
20 416
8 507
13 453
20 560
8 718
13, 774
21 107
8,924
2.4
2.7
2.4
4 018
7 909
4,071
4 170
8 110
3 954
4 139
8 388
3 935
4 194
8 550
4 032
4 410
8 790
4 104
4 492
8 875
4 245
4 366
8 9920
4 59
4 463
9 175
4 307
4 713
9 564
4 283
4 916
9 701
4 590
4 882
9 904
4 788
5 001
10 087
4 782
5 127
10 384
4,807
5 235
10, 460
4,972
2.1
.7
3.4
39 409
39 754
40 453
41 434
42 392
43 258
44 221
44 924
45 920
47 553
49 154
50 227
50 667
52,103
2.8
6 055
26 962
6 075
27 239
6 169
27 752
6 280
28 510
6 539
29 051
6 544
29 720
6 743
30 435
6 969
30 896
6 983
31 640
7 099
32 864
7 402
33 867
7 551
34 644
7 580
34 952
7 670
36, 067
1.2
3.2
New Mexico
Arizona
2 366
4 026
2 379
4 061
2 371
4 161
2 411
4 233
2 431
4*378
2 490
4 504
9 463
4 580
2 520
4 609
2 608
4 689
2 627
4 963
2 710
5 175
2 723
5 309
2 844
5 291
2 825
5, 541
—.7
4.7
Rocky Mountain
12,352
12,592
12,843
12 900
13 221
13 337
13 398
13 811
13 856
14 461
14 781
15 420
15,458
15,833
2.4
1 803
1 671
869
1 848
1 694
*902
1 956
1 693
907
1 894
1 686
882
1 926
1 732
905
1 955
1 716
911
1 882
1 792
900
1 965
1 860
993
1 985
1 808
970
2 020
1 884
*978
2 039
1 871
I 024
2 113
1 939
1 048
2 104
2 043
1 027
2 167
2 138
1,082
3.0
4.6
5.4
5,556
2 453
5 666
2 482
5 772
2 515
5 828
2 610
6 0069
2 65
6 099
9 656
6 146
2 678
6 304
2 6SQ
6 364
2 729
6 712
2 867
6 904
2 943
7 318
3 002
7 257
3 027
7 375
3 071
1.6
1.5
79,887
81 642
83 265
84 730
86 285
87 463
89 463
90 901
93 841
95 932
98 369
100 254
102 084
104,805
2.7
9,428
5 642
9 703
5 794
10 118
5 804
10 428
5 931
10 499
5 957
10 726
6 048
11 010
6 176
11 322
6 319
11 718
6 432
11 965
6 574
12 183
6 730
12 461
6 903
12 752
7 Q49
13 042
7 244
2.3
28
1 504
63 313
1 514
64 631
1 508
65 835
1 525
66 846
1 598
68 308
1 557
69 132
70 fifi3
9 8
886
2 210
900
2 192
925
9 226
972
2 272
1 002
2 322
1 016
2 373
1 030
2 433
United States . New England
- . ..
Maine
New Hampshire
Vermont
...
Massachusetts
Rhode Island
Connecticut
Mideast
New York
New Jersey
Pennsylvania
..- - . . ..
Delaware
Maryland ._
District of Columbia
Great Lakes
Michigan
Ohio
Indiana
_
-
Illinois
Wisconsin . .
Plains
.. .
-
. . .-
North Dakota
South Dakota
Nebraska.. - ..
Kansas
-
Southeast
Virginia
West Virginia..
Kentucky
Tennessee
North Carolina
South Carolina.-. -
._.
.
Georgia
Florida
Alabama
Mississippi
Louisiana
Arkansas
Southwest
Oklahoma
Texas
Montana- ..
Idaho
Wyoming.
Colorado
Utah.--
..
Far West
Washington
Oregon
Nevada
California
Alaska
Hawaii
- .
NOTE.—Quarterly totals for the State personal income series will not agree with the personal
income measure carried in the national income and product accounts since the latter includes
income disbursed to Government personnel stationed abroad. 1966-68 estimates have been
revised.
1 614
70 nnc
7K Rfifl
1 804
fi94
77 fi^9
1 877
7Q 013
1 928
80 355
1 930
82 589
1 068
2 513
1 116
2 526
1 122
2 677
1 142
2 782
1 163
2 834
1 214
2 823
1 238
2 916
1 639
n
1 695
1 733
Source: U.S. Department of Commerce, Office of Business Economics.
.1
19
0 0
By DONALD A. KING
Homebuilding Activity in 1069
Since early this year, the housing
industry has been adversely affected by
the very stringent conditions in financial
markets. As measured by housing starts,
homebuilding activity appears to be
declining at a rate comparable to that
in 1966. Whether the ongoing decline
from peak to trough will be larger or
smaller than that of 1966 will depend
mainly on money and credit conditions
and cannot yet be foreseen.
JL HE housing industry is traditionally
the sector of the economy most sensitive
to shifts in underlying credit conditions,
and 1969 offers no exception. Following
its decline in the tight money year 1966,
homebuilding activity recovered in the
wake of the easier credit policies of 1967,
then faltered with the return of credit
tightening in the first half of last year.
When credit restraints were relaxed in
mid-1968, the recovery resumed and
continued into the beginning of 1969.
From January to August of this year,
the housing industry has again been
reacting adversely to stringent money
and credit conditions. Record high
interest rates and reduced availability
of mortgage and construction funds
have resulted in a pronounced decline
in housing starts and permits, which
has not yet been fully reflected in
reduced outlays for residential construction.
Although money and credit markets
have been more orderly thus far in 1969
than in 1966, most broad measures of
credit restraint (i.e., the monetary base,
bank reserves, bank credit, interest
rates, etc.) indicate that conditions in
financial markets have been more stringent this year than they were 3 years
earlier. In late 1965, the monetary au16
thorities had shifted to a restrictive
credit policy, but it was not until the
late spring and summer of 1966 that
substantial credit stringency emerged.
This time, the progression to tight credit
conditions was somewhat more rapid.
Moreover, in some respects, the
housing industry was more vulnerable
to credit restraint in 1969 than in 1966.
Even before the introduction of this
year's tight credit, interest rates and
mortgage yields were far above the
peaks of 1966. In addition, the inflationary pressures that prevailed over
the years since 1966 accelerated the
rise in construction costs and shelter
prices and weakened the market for
residential investment. As measured by
housing starts, however, homebuilding
activity appears to be declining at a
rate comparable to that which occurred
in 1966 (chart 8). The reason that the
tighter credit conditions has not had a
more severe impact on homebuilding
in 1969 than in 1966 is to be found in
some major differences between the
present market for residential investment and that of 3 years ago.
First, the underlying demand for
housing is considerably stronger now
than it was in the midsixties. When
the credit crunch started in 1966,
housing demand was recovering from a
period of retrenchment due to the overbuilding of apartment houses and, in
the Far West particularly, the adjustment had not been completed. At the
present time, the underlying demand
for housing is extremely strong, even
though effective demand has been
limited by high interest rates and reduced credit availability. Indeed, since
1965, a large unsatisfied demand for
housing has been building up because
residential construction has failed to
supply the number of dwelling units
needed to meet the combined requirements for new household formations
and for replacement needs.
From 1966 to 1968, housing starts
indicate that, on average, only about
1.3 million new units a year were added
to the housing stock. During this period
the Census Bureau estimates that new
household formations averaged 1.1 million units per year. If an estimate of
annual replacement needs of perhaps
0.7 million units is added to this figure,
the shortfall of housing starts to needs
at the beginning of 1969 appears to be
on the order of one and one-half million
units. An allowance for mobile homes
(discussed below) would appreciably
narrow this gap, but clearly not elimiCHART 8
New Private Housing Units Started
Million Units
2.0
TOTAL
1.6
1.2
V
Multifamily
I i i
1963
64
65
66
67
68
69
Seasonally Adjusted at Annual Rates
0
July-Aug. average
Data: Census
U.S. Department of Commerce, Office of Business Economics
69-10-8
October 1969
nate it. This pressure of demand against
supply is reflected in both homeowner
and rental vacancy rates which declined
noticeably over the past 3 years and
now stand at their lowest levels in more
than a decade. During the first half of
this year, the homeowner vacancy rate
was 0.9 percent and the rental vacancy
rate was 5.0 percent. In the first half of
1966, these rates were 1.4 percent and
7.2 percent respectively. In addition to
the decline in vacancy rates, demand
pressures are also reflected in rising
rental prices. Rents have risen 3 percent
over the past year as compared with
annual increases averaging 1% percent
in the 5 years before 1966 (chart 9).
Second, several institutional changes
have occurred in recent years that have
contributed to a more stable flow of
funds for residential investment. These
include regulatory devices that have
curbed the competition for deposits
among the financial intermediaries; increased support for the savings and
loan industry by the Federal Home
Loan Bank System; enlarged and more
effective participation in the secondary
market for Government-underwritten
home mortgages by the Federal National Mortgage Association; action by
several State governments to raise interest rate ceilings imposed by usury
laws; congressional suspension of the
6-percent statutory interest rate on
Government-backed mortgages; and
the acceptance by builders of revenuesharing techniques for multifamily projects in order to enhance the attractiveness of such investments to the large
institutional investor. These changes
are discussed at greater length below.
Although the rate of decline in
housing starts this year is about comparable with that of 1966, it is too
early now to determine the full extent
of the drop in housing activity. This is
so because the extent of this decline is
mainly dependent upon conditions in
financial markets. As of mid-October,
there is no evidence of a letup in credit
restraint, and further sizable declines
in housing starts appear to be in the
offing.
SUKVEY OF CUKRENT BUSINESS
17
The Decline in Housing
Activity
ers—a reflection of widespread labor
shortages in many skilled trades. If
account is taken of the pronounced rise
In current dollars, residential invest- this year in construction costs, it apment was at its high in the first quarter pears that real outlays fell 9 percent
of 1969 when it Avas running at a sea- from the first to the third quarter. This
sonally adjusted annual rate of $33.3 was similar to the percentage reduction
billion. Expenditures dipped modestly that had occurred in the comparable
in the spring and somewhat more in period of 1966.
the summer; from the first to the third
The recent weakness in residential
quarter residential outlays declined 6% investment follows the steady drop in
percent to $31 billion. The 1969 de- housing starts that has been evident
cline followed gains of 34 percent from since early this year. After rising 7 perthe first quarter of 1967 to the first cent from the fourth quarter of last
quarter of 1968, and 16 percent from year, housing starts averaged a high
the first quarter of 1968 to the first seasonally adjusted annual rate of 1.7
quarter of 1969.
million units in the opening quarter of
These figures reflect large increases in this year. Starts then fell back to 1.5
construction costs. It is estimated that million units in the spring and 1.3 milthe deflator for residential construction lion units in July and August.
has increased 2.8 percent from the first
to the third quarter of this year, or 5.6
percent at an annual rate. This may be Single family housing
compared with the full year increase of
Both single family and multifamily
5.4 percent from 1967 to 1968 and 4.9 housing starts show about equal perpercent from 1966 to 1967. The large centage declines from the first to the
increase for 1969 included a 7.8 percent third quarter of this year. Single
advance in wage rates for skilled work- family units have never regained the
CHART 9
Shelter Costs
1957-59=100
140
130
Homeownership
120
110
100
95
I I I I I I I I I I I I I I I I
1958
59
60
61
I I I I I I I I
62
63
I I I I I I I I I I I I I I I I
64
65
66
67
I I I I I I I
68
69
End of Quarter, Seasonally Adjusted
Basic data: BLS, seasonally adjusted by QBE
U.S. Department of Commerce, Office of Business Economics
69-10-9
SURVEY OF CURRENT BUSINESS
18
peak they achieved prior to their
decline in 1966, and, indeed, remain
considerably below their level of 1963.
The downward trend in single family
units is partly a reflection of the fact
that the age group that typically buys
housing has shown little growth during
the 1960's.
In an examination of the impact of
tight credit on the single family housing
market, it is important to distinguish
between homes built for sale—by merchant or operative builders—and
custom-built homes. As chart 10 indicates, homes built for sale were hurt
much more severely during the tight
credit period of 1966 than were custom
built homes, mainly because the latter
are much less dependent upon outside
financing. There is a suggestion that
the merchant-built units declined more
from the second half of 1968 to the first
half of 1969 than did custom-built
homes, but the differences are small and
it remains to be seen if the 1966 experience will be repeated.
Sales of new homes
The recent downward movement in
sales of new single family homes also
CHART 10
Single Family Housing Starts
by Intended Use
Thousand Units
200
175
For Sale
150
125
100
75
For Exclusive Use by Owner
(custom built)
50
I
25
1963
64
I
_L
_L
65
66
67
68
Half Years, Seasonally Adjusted
_L
69
Note.—Data exclude small number of starts intended for rent and not reported.
Basic data: Census, components seasonally adjusted by QBE
U.S. Department of Commerce, Office of Business Economics
69-10-10
reflects the effects of this year's credit
stringency. Home sales, which fell off
in the first half of 1968 recovered after
midyear to reach a seasonally adjusted
annual rate of a little over 500,000 units
in the third and fourth quarters of the
year. This year, extraordinary high
interest rates and, more recently, the
difficulties in arranging mortgage financing have resulted in a 6-percent
decline from the fourth quarter of last
year to July-August of this year. This
decline, however, is moderate by comparison with the 32-percent drop that
occurred over the corresponding period
3 years ago. In part, sales have held up
better this year because flows of funds
to mortgage markets through the second quarter were not so badly depressed
as they were in 1966. Moreover, against
the setting of pent-up housing requirements and anticipation of further acceleration in cost and price increases for
new homes, it may be that buyers thus
far have not been so sensitive to rising
mortgage costs as they were 3 years ago.
October 1969
have increased their share of total sales
from 6% percent to 22 percent (table 1).
The movement in prices of single
family dwellings has not only deflected
demand from-these units to rental units,
but it has also stimulated a boom in
mobile home production. From 1965 to
1968, shipments of mobile homes have
increased nearly 50 percent — from
216,000 units to 318,000 units. (Mobile
homes are not included in housing
starts or sales data.) Moreover, according to some estimates, mobile homes
accounted for about 90 percent of the
sales for new single family housing
priced under $15,000 in 1968, a share
which is almost certain to increase in
1969.
After rising strongly to a seasonally
adjusted annual rate of 365,000 units
in the final quarter of last year, mobile
home production increased to a peak
rate of 406,000 units in the opening
quarter of this year but slipped back
somewhat to a rate of 375,000 in the
spring quarter. Purchasers of mobile
homes have not experienced the same
Shifts to costlier units
financing difficulties that conventional
A notable development in the market home buyers have encountered. The
for single family housing is the striking typical mobile home sells for an average
rise in the sales prices of new homes. price of about $6,000 and is purchased
According to the Census Bureau; the on medium-term (5 to 7 year), high
price of new single family homes rose downpayment, consumer installment
3 percent in 1966, 3% percent in 1967, credit, an attractive investment for
and 7 percent in 1968. On the basis of banks and finance companies.
incomplete data for the first half of the
year, it appears that the price rise this Multifamily units
year will be at least as large as in 1968.
During the post-1966 housing reThese price changes reflect not only covery, homebuilding activity has been
higher construction costs but also in- shifting further from the construction of
creased land values, demand influences, single family units to multifamily units.
and changes in housing quality.
This is a continuation of a trend that
The striking rise in housing prices
has made it more difficult, particularly Table 1.—Sales of New 1-Family Homes by
Price Class
for low and middle income groups, to
[Percent distribution]
undertake homeownership. Indeed, a
All
dramatic shift has occurred in the charachomes
Un- $15,000 $20,000 $25,000 $30,000 $35,000
reportter of new private housing construction,
ing
der
to
to
and
to
to
sales
19,999 24, 999 29,999 34, 999 over
$15,000
which has seen new homes selling for
price
under $20,000 decline from 50 percent
20.9
100.0
28.9
6.9
22.0
14.7
6.5
of total new home sales in 1965 to 25 1965
1966
100.0
14.5
9.1
29.7
15.9
9.8
21.0
percent in the second quarter of this 1967 100.0 11.1 26.6 21.6 17.7 10.7 12.0
year. During this period, the share of 1968 100.0 7.9 21.7 21.9 18.2 13.1 17.2
new homes selling for under $15,000 has 1969* 100.0 5.4 19.2 23.2 17.9 11.6 22.3
declined from 21 percent to 5% percent
*Second quarter.
of total sales. At the other end of the
NOTE.—Detail may not add to total because of rounding.
Department of Commerce, Bureau of the Census,
scale, houses priced at $35,000 and over andSource:
Department of Housing and Urban Development.
October 1969
SURVEY OF CURRENT BUSINESS
19
started early in the present decade.
Since 1966, starts on single family units
have not regained the level reached at
the end of 1965. In contrast, multifamily starts surpassed their end-of1965 rate by the third quarter of 1967
and climbed almost 50 percent higher
to a record seasonally adjusted annual
rate of 760,000 units in the opening
quarter of this year. Accordingly, multifamily units enlarged their share of the
supply of new housing units from 35
percent in 1967—roughly the same as
the average share from 1963 to 1965—
to 40 percent in 1968, and to 45 percent
so far in 1969.
Flow of funds to lenders
The growth in multifamily construction is related to several developments.
First, demographic factors have favored
the market for multifamily units. This
includes the growing relative importance in the population of young
families and individuals, who are typically renters rather than home buyers,
and of older couples, who need less
living space. Second, the cost of apartment renting has been rising much less
rapidly in recent years than has the cost
of homeownership. According to the
Bureau of Labor Statistics, rental costs,
which lag somewhat due to lease
arrangements, have increased 8% percent from the end of 1965 to mid-1969
as compared with a rise of 23 percent
for homeownership costs (chart 9).
Third, the sharp rise in land value and
construction costs that have occurred in
recent years have substantially increased the prices of new homes, and
hence, average downpayments. As noted
above, this has no doubt shifted some
of the demand, especially that of the
low and middle income groups, from
single family units to rental units.
Fourth, tax considerations and the
scarcity of suitable land locations have
encouraged builders to undertake apartment-type construction. Finally, the
attractiveness of lending on multifamily
projects has been improved recently by
the renewed interest in equity participation for lenders. Through so-called
"kicker clauses" lenders can now participate in some share of the rentals or
profits earned by the project they
finance.
The flow of funds to thrift institutions
held up relatively well in the first
quarter of this year—in spite of the
rise in market rates of interest that occurred in late 1968 and early 1969—but
fell sharply in the second quarter and
much further in the summer quarter.
Net savings flows to the savings and
loan associations, the largest mortgage
Although net savings flows were aplending group, reached a relatively high
parently
less sensitive to the emergence
seasonally adjusted annual rate of $8
of
credit
stringency in 1969 than in
billion in both the final quarter of last
1966,
it
is
significant to note that, in
year and the opening quarter of this
the
case
of
the
savings and loan associayear. Although net savings flows showed
tions,
the
contraction
from the first
little response to the rise in market inquarter
to
the
July-August
period of
terest rates that occurred around the
this
year
is
comparable
to
that
which
turn of the year, they did weaken by
occurred
from
the
fourth
quarter
of
early spring as rates continued to rise
1965
to
the
third
quarter
of
1966
(top
and as depositors became increasingly
attracted to the higher yields on com- panel, chart 11). The reason that net
petitive market securities. Net savings inflows to the associations have been
flows fell to a seasonally adjusted an- declining so rapidly in recent months is
nual rate of $4% billion in the spring no doubt related to the pronounced
quarter and then, mainly because of increases in the spread between the
massive outflows in the July reinvest- average rate paid for deposits by these
associations and what depositors can
ment period, plunged to a rate of $1%
earn by investing in competitive m arket
billion in July and August.
securities (table 2).
The pattern of deposit flows to
2.—Spread Between Average Rate
mutual savings banks this year has been Table
Paid by Thrift Institutions and 1 Year
U.S. Government Securities
similar to that for the savings and loan
associations. Net savings flows to these
Excess of percentage points on U.S.
Government securities
banks were at a seasonally adjusted
Year
annual rate of nearly $4 billion in the
March
DeJune
September cember
opening quarter of this year, which
was close to the rate in the final 1966
0.19
0.21
1.05
0.35
-.40
.94
-.35
.46
quarter of last year. Net savings flows 1967
.80
1968
1.26
.65
1.25
fell to a rate of $2.7 billion in the spring 1969
2.32
3.01
1.47
quarter and to a rate of less than $1
Source: Office of Business Economics, based on Federal
billion in the July-August period.
Reserve Board data.
Residential Mortgage Markets
By the second quarter of 1969, tight
credit policy and high and rising interest rates resulted in a reduced flow
of funds to the savings and loan associations and other major mortgage
lending institutions. This reduction has
made these institutions more reluctant
to make mortgage loan commitments
and has led to a tapering in the rate of
mortgage debt expansion. The state of
the mortgage market has been a major
factor in the decline in residential
construction activity.
An interesting aspect of this year's
contraction in the flow of savings to the
thrift institutions is that the serious
decline in net inflows did not occur
until the second quarter. Three years
ago, net inflows fell sharply almost
immediately after the imposition of
credit restraint. At that time commercial banks, offering higher interest
rates for consumer-type saving deposits,
were able to attract a sizable volume of
funds from the thrift institutions. This
year the ceilings on consumer-type
deposits, which were imposed in the fall
of 1966, have effectively dampened the
competition for deposits between commercial banks and thrift institutions.
While both types of institutions have
suffered a loss of savings as depositors
have shifted funds to the purchases of
higher yielding market securities, the
nonbank institutions have not experienced the added loss of deposits to
the commercial banks that they did
3 years ago.
SUEVEY OF CUEEENT BUSINESS
20
The present pattern of contraction in
net savings flows to the mutual savings
banks has been different from that of
1966. During that period, net inflows
fell sharply from the fourth quarter of
1965 to a low in the second quarter of
1966 and then recovered strongly in the
summer and fall. This year most of the
decline in net inflows came after the
first quarter with the sharpest contraction in the summer. The decline from
the first quarter to the average of July
and August was more severe than that
from the closing quarter of 1965 to the
spring of 1966.
Total seasonally adjusted deposits of
commercial banks have declined slightly
this year reflecting the reduction in
time deposits. While banks have been
beset with an extremely heavy attrition
CHART 11
For the savings and loan associations
» NET SAYINGS FLOWS declined sharply in
the second and third quarters...
Billion $
15
10
as did MORTGAGE COMMITMENTS
10
(Net Change)
-5
-10 MM I i I l I i I I I I l i I I I I I I I I I i I l
1963
64
65
66
67
68
69
Seasonally Adjusted at Annual Rates
0
July and August.
Data: FRB (preliminary seasonal adjustment)
U.S. Department of Commerce, Office of Business Economics
69-10-11
of large negotiable certificates of deposits, they have also experienced
appreciably slower growth in consumertype time and savings deposits. After
increasing strongly in the wake of the
credit expansion that dominated the
second half of last year, consumer
savings deposits slowed sharply in the
first and showed no growth in the second
quarter of this year. In the reinvestment
month of July, banks experienced heavy
drains of these deposits. For the year to
date, banks have been considerably
less successful in attracting and holding
household savings deposits than in
1966 when, as noted above, they were
drawing deposits away from the nonbank financial intermediaries.
High and rising interest rates in 1969
have also led to a sharp increase in life
insurance policy loans and this has had
a restrictive influence on mortgage and
other lending activity by the life insurance companies. Based on a sample
of 15 companies, which account for
nearly 65 percent of outstanding policy
loans made by all life insurance companies, the Life Insurance Association
of America reports that gross policy
loans made in August amounted to
$257 million, which was only a little
below the record volume of $288 million
in July and almost 20 percent above
the 1966 peak of $216 million. Gross
loans made during the first 8 months
of 1969 totaled nearly $1% billion, a
record for any consecutive 8 months,
and were more than 45 percent above
the total for the comparable period last
year.
Mortgage debt expansion
The expansion in residential mortgage
debt continued at a very high rate
during the first half of this year, but
on the basis of data that are still
incomplete, it appears to have slowed
appreciably during the summer. The
expansion in mortage debt in the first
quarter of this year was at a seasonally
adjusted annual rate of $21% billion,
matching the peak rate reached in the
fourth quarter of last year. Debt expansion slowed slightly in the spring
quarter to a rate of $20% billion, but
the first half of the year as a whole was
at an annual rate nearly $1 billion
October 1969
greater than the full year 1968. The
strength in mortgage debt expansion
early this year was associated with the
large volume of outstanding commitments which the lending institutions
carried into the year, the high levels
for starts, and the high prices for new
and existing homes.
The mortgage lending of savings and
loan associations held at a relatively
high plateau of more than $8 billion
(seasonally adjusted annual rate) from
the third quarter of last year to the
second quarter of this year. Incomplete
data suggests some weakness in lending
emerged in the summer. These institutions carried high levels of mortgage
commitments into 1969. Commitments,
which are an indicator of future mortgage lending, increased at a seasonally
adjusted annual rate of $1.6 billion in
the closing quarter of last year to reach
$6.6 billion at yearend. With savings
flows holding up well and with the demand for mortgage funds strong, the
savings and loan associations added to
their commitments by as much in the
opening quarter of this year as in the
fourth quarter of last year. However,
in the spring when net savings flows
declined, the associations became increasingly reluctant to add to their future obligations, and the expansion in
commitments fell off abruptly. Then,
accompanying the sharp July-August
contraction in net savings flows, commitments declined at a seasonally adjusted annual rate of more than $3 billion (bottom panel, chart 11).
During the tight money period of
1966, the decline in lending commitments for the savings and loan associations was somewhat more pronounced
that it has been so far this year. After
the expansion slowed in the first quarter
of that year, commitments fell off at
seasonally adjusted annual rates of
$4% billion in the second quarter and
$3% billion in the third quarter.
In addition to the expansion in commitments earlier this year, mortgage
lending has been sustained by support
which the Federal Home Loan Bank
Board (FHLBB) has provided member savings and loan associations. In
SURVEY OF CUERENT BUSINESS
October 1969
recent months, the savings associations
have sharply stepped up their borrowing from the Federal home loan banks.
This borrowing increased very little in
the first quarter but, as lending resources came under pressure in the
April-August period, it rose nearly
$2% billion. This was a record expansion for any consecutive 5 month period
and pushed the volume of such borrowings to a new peak of $7% billion. Along
with providing advances and repeated
assurances that the FHLBB stands
ready to help the savings associations
through periods of credit stringency,
the Board has liberalized some of its
restrictions. Notably, it has lowered the
liquidity requirements for member associations from 6% to 6 percent, an action which carried the potential of
freeing $650 million for mortgage debt
expansion. Also, the Board recently
announced plans for making 5 year
advances to member associations instead of the present 1 year loans.
Since the first quarter, the savings
and loan associations have added to
their loan funds by reducing their
holdings of liquid assets, thus reducing
the liquidity of these associations. As
measured by the ratio of cash and
U.S. Government security holdings to
total liabilities, liquidity declined from
8.1 percent last March to a low 6.9
percent in August. Three years ago,
this measure dropped from 8.5 percent
in March to a low of 7.6 percent in
late summer.
Among the other major mortgage
lending institutions, the lending activity of the mutual savings banks,
Table 3.—Net Mortgage Debt Expansion,
1- to 4- Family Nonfarm Properties by
Major Type of Lender
[Billion dollars]
1965
1966
1967
196 9*
1968
I
Total net expansion. 16.0
Savings and loan
associations
Mutual savings
banks
Commercial
banks.
Insurance l
Others...
II
10.0
12.5
15.5
17.1
16.9
7.6
2.7
5.9
7.1
8.2
8.5
2.7
1.6
18
14
15
13
3.1
1.8
.8
2.4
1.0
2.3
2.5
—.3
2.6
3.5
—.2
3.7
4.4
3.4
— 3
4.0
3.7
* Quarters seasonally adjusted at annual rates.
1. Includes pension funds.
2. Includes mortgage companies, households, State and
local governments, and the Federal National Mortgage
Association.
Source: Federal Reserve Board (Flow of Funds).
21
which reached a relatively high pace in 1969. In the conventional mortgage
in the closing quarter of last year, fell market, the average interest rate on
off in the first and somewhat more in new home mortgages rose 80 basis
the second quarter of this year. Com- points from the high last December to
merical banks apparently entered this 8.20 percent in August. This compares
year with high levels of outstanding with peaks of 6.70 percent in both 1967
commitments as additions to their and 1966. In the secondary market for
home mortgage holdings increased in FHA-insured new home mortgages,
the January to March period, despite yields rose 86 basis points from last
mounting pressure on lending resources. December to reach 8.36 percent in
However, as credit stringency intensi- August. In both 1967 and 1966, the
fied, their mortgage debt expansion highest yield was 6.81 percent.
FHA secondary market yields have
slowed during the second quarter and,
exceeded
average contract rates on
apparently, fell off sharply in the
conventional
mortgages more often
summer. The life insurance companies
than
not
in
recent
years (chart 12).
have reduced their holdings of 1- to
This
is
a
reversal
of
the relationship
4-family mortgages in each of the first
that
prevailed
before
1966,
when contwo quarters, continuing a trend that
ditions
in
financial
markets
were
more
has been evident since early 1967
stable
and
when
funds
for
mortgage
(table 3).
So far this year, the Federal National
Mortgage Association (Fannie Mae)
has provided major support to the
home mortgage market by substantially
enlarging its operations in the secondary
market for Government-backed mortgages. This organization, which has
operated outside the Federal Government since the fall of 1968, supports the
secondary market for FHA and VA
mortgages through a market priced,
purchase-commitment system. Under
this system, Fannie Mae holds weekly
auctions at which it commits itself to a
future purchase of an announced dollar
volume of eligible mortgages. The
prices at which Fannie Mae will purchase these commitments are determined by the lowest bids of sellers who
have the option of delivering within an
agreed upon period (3 months, 6
months, or 12-18 months); the option
holders may also sell to other buyers if
the market for mortgages should improve. In its recent effort to stabilize
the mortgage market, Fannie Mae's
accepted commitments have increased
from an average annual rate of $3.0
billion at weekly auctions last December, to $4^ billion in March, $5% billion
in June, and $7% billion in September of
this year.
Mortgage financing costs
As a result of the buildup of pressures
in mortgage markets, financing costs
have consistently reached record highs
CHART 12
Mortgage and Bond Yields
Percent
9
FHA Insured
(Secondary Market)
:**
Yield Spread*
Basis points
200
100
0 iiiiilinii M in IIHII! 111 ulii in iiiiiliiiii iiiiiliiiii iiiiihiui
1964
65
66
67
68
69
*FHA mortgage vs. new issue Aaa corporate bonds.
Data:
U.S. Department of Commerce, Office of Business Economics
FRB, FHA
69-10-12
22
financing were more plentiful. In large
part, the recent trend reflects the fact
that FHA-insured mortgages are traded
in a national market and hence yields
are more sensitive to credit market
pressures than are local contract rates
on conventional mortgages.
Also, the usury laws in some States
have posed problems for mortgage
lenders. Despite the fact that several
States have raised their interest rate
ceilings in the years since 1966, the
extraordinary high levels reached by
interest rates in 1969 has meant conflicts with some usury laws. In some of
these cases, however, usury laws apply
only to conventional and not to FHAinsured mortgages. As a result, rates
on the latter can rise with market
trends while those on conventional
mortgages are constrained.
Although the increase this year in
mortgage yields has been striking, it
has trailed that in corporate bond markets. Consequently, the premium in
FHA-insured mortgage yields over high
grade corporate securities has declined,
and mortgages have become relatively
less attractive to financial investors (bottom panel, chart 12). The spread between yields on FHA-VA mortgages and
high grade corporate securities has narrowed less this year than in 1967 and
early 1968. This more moderate decline
reflects the fact that Congress, in May
1968, suspended the 6 percent statutory
interest ceiling on Government-backed
mortgages for the period running until
October 1 of this year. This was immediately followed by administrative
action raising the regulatory rates on
these investments by three-fourths of a
percentage point to 6% percent and by
as much again last January to 7%
percent.
The main reason that FHA-VA
mortgage yields have lagged in their
adjustment to rising credit market
pressures, is that "discounts" or
"points" are carried on these investments. These "points," which are a
given percentage of the principal
amount involved in the mortgage
contract, are charged by lenders to bring
the regulatory interest rate ceilings on
Government-backed mortgages into line
with interest rates on competitive
SURVEY OF CURRENT BUSINESS
market securities. This year market
rates of interest have risen sharply,
but the 7% percent ceiling rate on FHA
mortgages has remained unchanged
since January. Thus, the points charged
by lenders on these mortgages have
increased sharply: from 4 in February
to 7 in August. Approximately 8 points
are required to raise the effective yield
to lenders 1 percent above the present
ceiling on FHA-VA mortgages.
However, the higher market rates of
interest rise above the regulated interest ceilings on Government-backed
mortgages, the more difficult it becomes for the lender to add points to
the mortgage contract. This is so
because, as points reach high levels,
serious frictions develop in mortgage
markets. For example, under present
FHA regulations, buyers are permitted
to pay only 1 point, in lieu of certain
closing cost expenses, and the balance
becomes the responsibility of the seller.
Thus, when points rise, the seller of an
existing house, if he does not withdraw
from the market altogether, will attempt to avoid paying points by selling
to buyers who can assume his present
mortgage or by inflating the selling
price of his house. Also, adding points
to mortgage contracts is unpopular
with both home buyers and sellers
who often have close working relationships with the mortgage lender and, at
high levels, points become an embarrassment to the lender. Consequently,
when market interest rates rise far
above ceiling rates on FHA and VA
mortgages, it becomes increasingly difficult for lenders to charge additional
points, and the rise in mortgage yields
fails to keep pace with the upward
trend in other long-term rates.
Outlook
Housing starts are currently in the
midst of a decline that, according to
many measures, is proceeding at a rate
comparable to that which occurred
3 years earlier. Although there are
important differences between the market for residential investment then
and now, the extent and the duration
of the current decline will be determined by conditions in financial mar-
October 1969
kets. In the absence of a letup in
credit market pressures, continued
weakness in flows of funds to lending
institutions, in new commitments, in
residential investment, and in mortgage debt expansion is to be expected.
At this juncture, there is no evidence
to indicate any lessening of pressures
in financial markets and, at least for
the near-term, a further sizable decline in homebuilding activity is in
prospect.
(Text continued from page 14)
the only Great Lakes State to show an
increase in the rate of income gain
from the first to second quarter; in
each of the others there was an appreciable reduction. Most of the Michigan
acceleration is directly traceable to the
ending of a strike in the construction
industry which had held back the
overall gain in the first quarter.
Second quarter farm
sharply
income
up
The second quarter advance of nearly
8% percent in farm income in the
United States was the largest relative
rise among major industries. In large
part, the increase reflected much higher
prices for farm products, especially
meat, and slightly increased marketings of crops. These gains in receipts
were only partially offset by the continuing rapid advance of farm costs.
In the Rocky Mountain and Plains
regions, above-average increases in farm
income combined with below-average
increases in nonfarm income to yield
gains in total income that were close
to the national average. In contrast to
the regional experience, changes in farm
income account for most of the largest
personal income changes among individual States. In the second quarter,
income spurted by 4% percent or more
in Nebraska, South Dakota, Wyoming,
Arizona, and Iowa, fell in North
Dakota, Delaware, and New Mexico >:
and was little changed in Nevada. (See
table 1 on p. 15.) In all but Delaware
and Nevada, farm income was mainly
responsible for these large variations.
By DAVID T. DEVLIN and FREDERICK CUTLER
The International Investment Position of the United States:
Developments in 1968
The net international investment
position of the United States showed
virtually no change in 1968 as total
U.S. international assets and total U.S.
liabilities to foreigners both increased
$11.4 billion. A very large increase in
the value of nonliquid U.S. assets
abroad—including a sharp rise in U.S.
direct investment—was mostly offset
by increased foreign purchases of U.S.
stocks and bonds and other nonliquid
inflows. Monetary reserves rose slightly
more than liquid liabilities, with a small
surplus in the balance of payments
measured on the liquidity basis.
shifts in assets and in liabilities is than
analyzed, noting whether the changes
are in liquid or nonliquid assets or
liabilities. In addition, the change in
the investment position is reconciled
with balance of payments capital flows.
The flows of funds associated with
U.S. direct investment abroad are discussed in considerable detail. Particular
attention is given to changes in the
value of U.S. direct investment abroad,
to changes in other U.S. corporate
foreign assets and liabilities, and to
earnings, fees, and royalties associated
with U.S. direct investment abroad.
In 1968, the net flow associated with
these items had an unusually favorable
impact on the balance of payments—
in spite of an acceleration in direct
investments—as foreign earnings rose
sharply and U.S. corporations financed
a substantial part of their direct investments with funds borrowed abroad.
Changes in the Net
International Position
As detailed in table 1, changes in the
net investment position of the United
States reflect three major factors. The
first is net recorded balance of payments capita] flows, which, in turn,
must be equal to the balance on goods,
services, and unilateral transfers adjusted for errors and omissions.1 In
effect, a surplus on these items allows
an improvement in our investment
position. The second is reinvested
earnings of U.S. affiliates abroad minus
reinvested earnings of foreign enterprises in the United States. Earnings of
U.S. affiliates abroad not sent back to
J_ OTAL international assets of the
United States—including official reserve assets as well as investments
abroad—rose $11,395 million in 1968,
1. If errors and omissions in the balance of payments
accounts could be identified, a part would presumably go into
but total U.S. liabilities—foreign assets
recorded capital flows and a part into recorded goods,
in the United States—rose $11,401
services, and unilateral transfer accounts. The two accounts
would then be equal in magnitude.
million. As a result, the net international investment position of the United Table 1.—Factors Accounting for Changes in the Net International Investment Position
of the United States
States showed practically no change
over the year, following the small $233
[Millions of dollars]
million increase in 1967. At yearend
Average
1968, total assets exceeded total liabil1968
1967
1966
ities by $65.0 billion, virtually un1951-55 1956-60 1961-65
changed from the $64.8 billion position
-349
2,179
at yearend 1966.
2,446
1,002
3,838
-498
Balance on goods, services, and unilateral transfers (surplus (+))
-642
-489 -1,007
This article first discusses the factors Adjustment for: Errors and omissions (receipts (-}-))
-910
173
300
accounting for changes in the U.S. net Equals :
Net recorded balance of payments capital flows (outflow
-991
1,172
1,956
2,927
1,175
-197
8,286
8,024
international investment position: in
5,276
5,097
1,002
3,283
Change in U.S. assets (increase (+))
-1, 199 -2, 108 -2, 170 -3, 320 -6, 852 -9, 277
Change in U.S. liabilities (increase (— ))
particular, recorded balance of pay1,654
1, 158
1,400
1,072
990
670
Net reinvested earnings (increase (+))
ments capital flows (equivalent to Plus:
-670
43 -2, 104
-636
Plus:
Changes in net valuation and other adjustments
. -370 i -699
212
transfers of goods and services abroad
244
165
328
n.a.
of which: Adjustments for statistical discrepancies. ..
n.a.
net of unilateral transfers and adjusted Equals:
Change in net international investment position of the
-6
233
3,399
3,364
1,466
102
United States ..
.
..
11,395
for errors and omissions), reinvestment
9,543
5,070
6,872
2,143
4,138
Change *n U.S. assets (increase (-}-))
-2,041 -2, 673 -3,507 -1,671 -9,310 -11,401
Change in U.S. liabilities (increase (— ))
of direct investment earnings, and valuation changes in outstanding holdings. Memorandum Item:
Net international investment
position of the United
65,013
37, 237 44,566 61, 387 64,786 65, 019
States at end of period 2
After the change in the net position,
is discussed the composition of the
1. Includes an adjustment for direct investment in Cuba omitted from the data effective 1960.
NOTE.—Julius Freidlin, Nancy Keith, Russell Scholl, and
Zalie Warner also made significant contributions.
2. The net position at the end of a given period is equal to the position at the end of the preceding period plus the total
net change during the period.
NOTE.—Details may not add to totals because of rounding.
N.a. Not available.
23
SURVEY OF CURRENT BUSINESS
24
October 1969
Table 2.—International Investment Position of the United States at Yearendj
[Millions of dollars]
Line
19651
1967'
1968 P
1968 P
1967'
1968 P
1967'
1968 P
1967'
1968 v
1967'
37,237
44,566
61,387
65,019
65,013 -5,490 -8,278
20,099
20,704
14,259
15,060
21,507
22,730
14,644
14,797
17,537
36,727
U.S. assets and investments abroad,
totalj
-
54,359
65,076
85,768
19,004
29, 136
49,430
17,488
26, 750
44, 447
11, 788
1,692
1,466
1,175
390
977
19, 395
2,660
382
2,439
671
1,203
-•231,865
4,891
'633
3,984
1,698
1,376
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
D irect
Foreign dollar bonds
Other foreign bonds *
Foreign corporate stocks
Banking claims
Other
- .. . .
Short-term assets and claims . . . 1,516
Reported by banks
Other
.
29,409
31,694
20,796
22,281
31,797
34,964
17,187
25,410
28, 124
29, 371
31,679
16,216
17,077
19, 113
20,922
3,493
4,098
71,044
81,700
88,930
22, 618
24,687
28, 156
30, 476
13, 128
13,791
14,305
15, 879
3,493
4,097
' 49, 474 59,486
9,115
9,666
1,050
1,113
5,048
5,238
'4,317 s 3, 725
62,040 62,472
64,756
10, 614
1,088
6,464
53,367
62,641
17,926
712
104
2,148
757
971
19,386
652
104
2,899
527
1,119
18,097
5,492
748
2,827
227
765
19, 488
6,033
701
3,201
228
825
10,265
597
189
84
1,521
472
11,010
721
211
107
1,346
396
10,862
1,708
72
179
1,220
264
12, 167 3 2, 336
1,157
1,816
72
257
(*)
1,266
301
1,215
2, 705
1,392
(*)
10, 153
11,903
12,970
2,792
3,437
1,203
3,088
3,286
4,808
5,043
(*)
1
7,735
2,418
8,606
3,297
8,695
4,275
1,217
1,575
1,181
2,256
597
618
523
680
2,617
471
2,763
523
4,175
633
4,228
815
(*)
(*)
1
11,090
13, 143
16,979
23,479
26,306
28, 524
7,799
8,011
35
11
4,580
5,204
12,683
14,041
1,209
1,257
. . . . . 10,768
12,420
14,087
20,318
23,643
25,940
7,585
7,805
31
4
4,528
5,174
10, 295
11,705
1,204
1,252
31
4
3,974
4,581
6,347
7,400
1,204
1,252
554
593
3,948
4,305
52
30
Repayable in dollars 8
Repayable in foreign currencies,
etc. 9
n. a.
n.a.
n.a.
14,968
18, 051
19,967
6,495
6,730
n.a.
n.a.
n.a.
5,350
5,592
5,973
1,090
1,075
Foreign currencies and other claims.
Monetary reserve assets
3
4,983
.
322
723
2,892
3,161
2,663
2,584
214
206
4
7
2,388
2,336
5
5
. 24,265
22,797
19,359
15,450
14, 830
15,710
2,341
3,523
3
4
1
1
12,485
12, 182
22,820
1,445
21, 753
1,044
17,804
1,555
1013,806
"863
781
12,065
420
2,345
10,892
1,290
3,528
12,065
420
2,341
3
4
1
1
10,892
1,290
3,523
23
Foreign assets and investments in the
United States, total
28
39,658
93,603 101,900
3,594
1,389
Gold
IMF gold tranche position
Convertible currencies
25
26
27
35,550
81, 197
1,549
837
20
21
22
24
120,126 134,739 146,134
2,386
.
.
1968 P
886
630
U.S. Government nonliquid credits
and claims.
Long-term credits 7
International
Other foreign organizations
countries
and unallocated t
19601
2
Long-term
Latin American
Republics
19551
Net International investment position
of the U.S. (line 2 minus line 23)
Private investments
1967'
Canada
19501
1
3
Western Europe
Total t
Type of investment
Long- term .
Direct
Corporate stocks
Corporate, U.S. Government
agency, State, and municipal
bonds
Other
17,632
27,839
41,202
58,739
69,720
81,121
41,040
47,936
9,310
10,990
6,537
7,221
10,290
12,234
2,543
2,740
7,997
13,408
18, 418
26, 374
32,011
40, 267
20,248
26,037
5,284
6,172
2,517
2,749
2,995
4,204
967
1,105
3,391
2,925
5,076
6,575
6,910
9,302
8,797
14, 599
9,923
15, 511
10, 815
19, 528
7,004
10, 512
7,750
12, 989
2,575
2,539
2,659
3,271
176
1,271
164
1,411
168
1,068
242
1,709
121
148
181
1,500
259
1,498
649
1,557
875
2,103
2,159
4,418
4,236
5,688
1,440
1,292
3,352
1,946
(*)
170
79
163
96
974
104
1,070
181
1,578
167
2,086
442
404
534
423
29
Nonliquid short-term assets and U.S.
Government obligations
825
900
1,235
3,250
4,590
7,237
3,296
4,591
601
1,638
165
164
528
844
(*)
(*)
30
Reported by U.S. private residents other than banks
726
734
964
968
1,778
2,531
1,103
1,753
255
277
125
132
295
369
(*)
(*)
31
Nonliquid U.S. Government
obligations
99
166
271
2,282
2,812
4,706
2,193
2,838
346
1,361
40
32
233
475
32
Associated with Government
grants and transactions increasing Government assets
(line B.7)ii__
Associated with military sales
contracts (line B 2) n
Associated with other specific
transactions (line B.13) "
O ther nonrnarketable mediumterm securities payable prior to maturity only under
special conditions (line C.I) "
20
62
344
55
57
14
133
194
1,575
1,985
1,870
1,789
1,665
30
25
5
'85
'13
'15
198
187
184
41
33
116
86
3
165
585
2,595
363
1,140
200
1,250
13, 531
21, 549
29, 115
33, 119
33, 617
17, 496
17,308
3,425
3,180
17, 195
21, 180
24,460
9,816
12, 580
2,433
3,530
2,381
13 1, 667
1,347
1,183
716
8,356
34
9,325
233
7,260
230
6,333
3,545
is 12, 410
4,818
16,206
7,419
16, 679
11,085
13, 513
14, 467
9,872
6,206
33
34
35
36
37
38
39
40
Liquid assets..
8,810
Private liabilities reported by
banks _
'5,836 '7,686
11, 062
U.S. Treasury marketable or
convertible bonds and notes . . _ 1,470 1,636 '122,326
U.S. Treasury bills, certificates
and other obligations . .
'1,504
is 8, 161
4,209
Gold deposits of IMF
23
27
161
180
2
27
63
22
205
3,855
4,308
6,767
7,186
1,576
1,635
2,615
3,713
4,190
5,004
4,881
214
194
384
41
15
109
60
168
25
276
181
101
103
1,654
2,245
961
233
1,186
230
7,001
8,872
996
2,076
532
2,271
1,116
473
1,320
600
3,662
2,330
3,630
2,724
1,033
1,030
353
377
2,161
2,297
752
807
105
91
23
25
543
605
451
511
32
(*)
30
(*)
Memorandum items:
41
42
43
44
45
Liabilities reflected in liquidity and
official reserve transactions balances:
Liquid liabilities (liquid assets of
foreigners) :
To official agencies (line 9) " M 15
To commercial banks (line 10)
To other foreign residents
and
unallocated (line 11) 14
To international and regional
organizations (line 12) u
Certain nonliquid liabilities to
foreign official agencies (line
18) H 16 .
n.a.
2,100
n.a.
2,983
n.a.
n.a.
2,780
4,059
4,678
4,908
1,412
1,427
n.a.
n.a.
1,541
1,431
677
729
6
8
n.a.
n.a.
2
616
2,723
5,063
587
1,194
(See page 25 for footnotes)
314
1,334
1,371
2,024
October 1969
the United States as income (and not
included in the current account) improve our investment position. The
third factor is net changes in valuation
of U.S. investments abroad and foreign
investment in the United States (including adjustments in the various
series for statistical discrepancies) which
are also not included in the balance of
payments accounts. Essentially, we
improve our net investment position by
transferring abroad real goods and
services or by reinvesting foreign
earnings abroad, but the position is
also affected by valuation changes.
In almost every year since 1955 our
net investment position has improved.
The largest favorable factor has usually
been a large surplus on goods, services,
and unilateral transfers, partially offset
in the 1960's by a negative adjustment
for errors and omissions. Net earnings
reinvested abroad show a rising favorable contribution to our net position.
But valuation changes have usually
been adverse to the United States.
During 1968, for the first time since
the early 1950's, the U.S. balance on
goods, services, and unilateral transfers
turned adverse, mostly reflecting the
$6.1 billion surge in merchandise imports. The errors and omissions adjustment remained negative and these two
items reduced our net investment position almost $1.0 billion. This was an
unfavorable shift of almost $4.0 billion
from the average surplus that prevailed
in the first half of the 19607s, and a
deterioration of $2.2 billion from 1967.
Net reinvested earnings, on the other
hand, rose to over $1.6 billion in 1968,
the highest level recorded. Net valuation changes in 1968 were adverse by
some $0.7 billion. This mostly reflected
a greater rise in the value of U.S. stocks
held by foreigners (as U.S. stock prices
rose) than the rise in the value of foreign
SURVEY OF CURRENT BUSINESS
stocks held by U.S. residents. However, trade, services, and transfers, retained
this valuation adjustment was much earnings, or valuation changes, as was
less adverse than the $2.1 billion adjust- the case in 1967 and 1968, capital outment in 1967. (In 1967, the value of flows from the United States (which
foreign holdings of U.S. stocks rose even increase certain assets abroad) must be
more, and the value of U.S. holdings of financed by a rundown in other assets—
foreign bond issues showed a sharp possibly monetary reserves—or by a
fall.)
buildup in liabilities to foreigners—
Since these factors almost exactly often liquid liabilities.
offset each other in 1968, the net interTo analyze the external position of
national investment position of the the United States, it is not enough to
United States showed practically no consider only the change in the net
change, a sharp contrast with the very international investment position. Even
large improvements in our net position when our net investment position imin the early 1960's. Most of the shift proves, if the capital outflow is so
seems to have been associated with the great that there is a decline in monetary
parallel decline in our trade surplus.
reserves, this adversely affects the U.S.
While the net change in our invest- balance of payments measured on the
ment position can be considered to be liquidity basis, as well as on the official
accounted for by the factors just reserve transactions basis. If there is
described, captial flows, of course, may an increase in liquid liabilities, this
have a major impact on trade, services, adversely affects the liquidity balance.
and earnings. To this extent, the The official reserves transaction balance
change in the net position is not is adversely affected if there is an
determined independently of the capital increase in liquid or certain nonflows. On the other hand, an outflow liquid liabilities to foreign monetary
2
of capital from the United States does authorities.
not necessarily result in a net change
Increases in U.S. Assets and
in the U.S. international investment
Liabilities
position unless one of the factors
mentioned also is influenced. U.S.
The $11.4 billion rise in U.S. interpurchases of foreign bonds increase national assets in 1968 reflected an
interest receipts of the United States $8.3 billion increase in private investand thus improve the U.S. balance on ments abroad, a $2.2 billion advance
goods and services. In this case, how- in nonliquid U.S. Government assets
ever, it is clear that the immediate and a $0.9 billion increase in U.S.
improvement in the net position will official reserves (tables 2 and 3). The
be a small fraction of the initial outflow 1968 increase in U.S. international
of capital. Likewise, U.S. direct in- assets was somewhat larger than in
vestment abroad will increase U.S. 1967, partly reflecting the fact that
earnings and may significantly en- there was little change in monetary
courage U.S. exports (at least in the reserves in 1967. In addition, there was
short run), particularly if a new plant a greater increase in direct investments
abroad requires U.S. equipment.
in 1968, as compared with the relatively
But setting aside the complex interdependence between capital flows and
2. For further analysis of the meaning of our net interinvestment position see Lederer and Cutler, "Interthe current account items and earnings, national
national Investments of the United States in 1966," SURVEY
if there is little or no net surplus from OF CURRENT BUSINESS, September 1967, pp. 39-52.
r Revised.
p Preliminary.
N.a. Not available.
"Less than $500,000 (±).
fineludes U.S. gold stock.
1. Unrevised except where indicated; otherwise the data are as published in the following:
1950, SURVEY, September 1967; 1955, Balance of Payments Statistical Supplement, Revised
Edition, 1963; 1960, SURVEY, August 1962; and 1965, SURVEY, October 1968.
2. Data for Cuba omitted effective 1960; 1959 total for U.S. direct investment was $956 million (book value).
3. Represents the estimated investment in shipping companies registered primarily in
Panama and Liberia.
4. Consists primarily of securities payable in foreign currencies.
5. Excludes $200 million netted against a related inflow of U.S. direct investment capital in
1961.
6. Includes $254 million loaned to Canada in connection with Columbia River power
development in 1964.
*u7' 4™incl^des Paid'in capital subscriptions to international financial institutions (other
than IMF) and outstanding amounts of miscellaneous claims which have been settled through
international agreements to be payable to the U.S. Government over periods in excess of 1
year. Excludes World War I debts that are not currently being serviced.
8. Includes indebtedness repayable in U.S. dollars, or optionally in foreign currencies, or by
delivery of materials or transfer of services, when option rests with U.S. Government.
25
9. Includes indebtedness which the borrower may contractually, or at its option, repay with
its currency, with a third country's currency, or by delivery of materials or transfer of services.
10. Reflects payment of $259 million gold portion of increased U.S. subscription to the IMF
in the second quarter of 1965.
11. Line numbers correspond to those in balance of payments table 5, SURVEY OF CURRENT
BUSINESS, September 1969, p. 41.
12. Reflects new series on marketable Treasury bonds and notes.
13. Includes Treasury liabilities of $522 million to certain foreign military agencies, which
were reflected in the liquidity balance but excluded from the official reserves transactions
balance.
14. Line numbers correspond to those in balance of payments table 3, SURVEY OF CURRENT
BUSINESS, September 1969, p. 38.
15. As reported by U.S. banks; ultimate ownership is not identified.
16. Portions of lines 28, 34, and 35 above.
NOTE.—Differences between amounts outstanding and flows reported in balance of payments tables may not coincide due to changes in coverage, price changes, changes in valuation
and other adjustments.
SURVEY OF CUREENT BUSINESS
26
Table
3.—Detailed
Reconciliation of
Changes in the International Investment
Position of the United States and Balance
of Payments Capital Flows
[Millions of dollars[
Lines
in
table
2
Type of investment (increase +)
1967'
1 Net international investment position
of the United States (line 2 minus
line 23)
233
of which: Balance of Payments
capital flows
1,172
Other than capital
flows
-946
2 U.S. assets and investments abroad,
total
9,543
of which: Capital flows
8,024
Other than capital
flows
1,518
Private investments
7,216
3
Long-term
4
5,919
Direct
4,709
5
of which: Capital flows
3,154
Reinvested earnings
1,598
Other adjustments.
-43
Foreign bonds
236
6-7
of which: Capital flows
1,216
Price changes
-1,068
Other adjustments88
914
8
Foreign corporate stocks
of which: Capital flows
50
Price changes
864
9-10
Banking and other claims
60
26
of which: Capital flows
Changes in cover34
age
Other adjustments.
11
1,297
Short-term assets and claims
of which: Capital flows
1,209
Changes in coverage88
Other adjustments
14
U.S. Government nonliquid credits and claims
2,379
15
Long-term credits
2,560
of which' Capital flows
2,631
Losses on write-offs
Other adjustments. _ _
-71
18
Foreign currencies and other
claims
-181
of which: Capital flows .
-209
Valuation changes
30
Other adjustments. . .
-2
19
-52
Monetary reserve assets
23 Foreign assets and investments in
the United States, total .
9,310
of which' Capital flows
6,852
Other than capital
flows
2,464
24
5,005
Long-term
25
Direct
869
of which' Capital flows
251
Reinvested earnings440
Other adjustments. _ .
178
26
Corporate stocks
2,868
of which: Capital flows
701
2,221
Price changes
Other adjustments. . . -54
27
Corporate, U.S. Government
agency, State, and municipal bonds _
117
316
of which: Capital flows
Price changes
-199
28
1,151
Other
of which: Capital flows
1,137
Changes in coverage.
14
Other adjustments
29
Nonliquid short-term assets and
U.S. Government obligations ._
965
30
Reported by U.S. private resi514
dents other than banks
499
of which: Capital flows
Changes in coverage. .
15
Other adjustments .
31
Nonliquid U.S. Government
obligations
451
of which' Capital flows
450
1
Other adjustments. . .
36
3,340
Liquid assets
3,492
of which : C apital flows
-152
Changes in coverage
r
1968p
-6
-991
984
11,395
8,286
3,109
8,297
7,230
5,270
3,025
2,142
103
923
1,100
-177
1,226
167
1,059
-189
-184
-5
1,067
1,049
18
2,218
2,297
2,321
—6
-18
-79
-72
-13
6
880
11,401
9,277
2,125
8,256
892
319
488
85
4,017
2,083
1,934
2,077
2,277
-200
1,270
1,263
7
2,647
753
750
3
1,894
1,872
22
498
712
-214
Revised.
» Preliminary..
NOTE.—Details may not add to totals because of rounding.
October 1969
low increase in 1967, as reinvested liquid U.S. assets. At the same time,
earnings rose sharply. U.S. investments there was a $3.3 billion increase in U.S.
in foreign dollar bonds also rose faster liquid liabilities to foreigners, with a
in 1968. Although recorded balance of deficit in the U.S. liquidity balance of
payments outflows to purchase such about the same amount.
bonds were roughly the same in both
In 1968, on the other hand, moneyears, in 1967 the value of existing tary reserve assets rose and the inholdings of bonds fell sharply. In 1968, crease in other U.S. assets abroad was
the fall in value was much smaller. greater than in 1967. But increased
Shifts in other long-term private ac- purchases of U.S. stocks and bonds by
counts were mostly smaller and off- foreigners in 1968 resulted in a large
setting. Short-term bank reported part of the rise in U.S. assets being
claims rose much less in 1968 than in offset by inflows of nonliquid foreign
1967, reflecting a tightening of the capital. At the same time, there was a
Credit Restraint Program, but other relatively small increase in liquid liashort-term claims rose faster in 1968 bilities. Since monetary reserves inthan in 1967, mostly reflecting the creased slightly more than liquid liareinvestment abroad of part of the bilities (excluding adjustments for
proceeds of increased foreign borrowing changes in coverage), the liquidity
by U.S. corporations.
balance was in surplus.
Of the $11.4 billion rise in foreign
assets and investments in the United
U.S. Direct Investment
States (U.S. liabilities) in 1968, $8.3
Abroad
billion was in long-term U.S. liabilities,
U.S. direct investment abroad in$2.6 billion was in nonliquid short-term
creased by $5.3 billion in 1968, a conand U.S. Government obligations, and
siderably larger rise than in 1967 and
$0.5 billion was in liquid liabilities. Of
about the same as the increase in 1966.
the $9.3 billion rise in U.S. liabilities
In 1968, direct investments accounted
in 1967, only $5.0 billion was long-term,
for almost one-half of the gross rise in
$1.0 billion was in nonliquid short-term
international assets of the United
and Government obligations, and $3.3
States, bringing the book value of U.S.
billion was in liquid liabilities. The
direct investments abroad at yearend
large increase in long-term liabilities to
to $64.8 billion, equivalent to almost
foreigners in 1968 was primarily attribhalf of the calculated value of total
utable to a surge in foreign purchases
U.S. international assets. In spite of
of U.S. stocks and of new Euro-bond the large increase in direct investment
issues of U.S. corporations. The sharp in 1968, the balance of payments caprise in foreign holdings of nonliquid ital outflow for direct investment, inU.S. Government obligations in 1968 cluding the use of both U.S. funds and
reflected $2.0 billion of foreign official funds raised abroad, was somewhat
purchases of nonmarketable, noncon- lower than in 1967 and much below the
vertible, medium-term U.S. Treasury outflows in 1965 and 1966 (table 4).
securities. (These near-liquid securities The increase associated with reinvested
are technically not counted in the earnings, on the other hand, was subliquidity measure of the balance, but stantially more than reinvestments in
are counted in the official reserve trans- earlier years.
actions balance.)
To analyze the influence ot direct
Thus, although both in 1967 and in investments on the U.S. balance of pay1968 the net international investment ments and on the net international
position of the United States showed investment position of the United
little change, the composition of the States, one must look at a number of
capital flows was quite different in the associated international transactions
2 years. In 1967, monetary reserve by U.S. corporations. In addition to the
assets declined slightly and the $9.5 outflow of U.S. funds to finance direct
billion increase in U.S. assets abroad investment, one is inteiested in how
was only partly offset by the $6.0 bil- much U.S. corporations borrow abroad,
lion increase in foreign holdings of non- either by new issues of securities or
SURVEY OF CURRENT BUSINESS
October 1969
27
abroad by U.S. corporations (corporate
liabilities other than new issues, which
includes trade liabilities as well as
financial borrowing) rose from under
$0.5 billion in 1967 to $1.1 billion in
1968. To the extent that these funds
were repatriated to the United States
or used to finance the direct investment
capital outflow (instead of U.S. funds),
such borrowing had a favorable impact
on the balance of payments, assuming
that the direct investments would have
been made in any case. In 1968,
about $0.8 billion of the proceeds of new
issues was used for direct investment
as compared with $0.3 billion in 1967.
Some of the proceeds of these borrowings, however, were invested abroad,
mostly in the Euro-dollar market,
pending their use in the foreign affiliates. About $1.0 billion of the proceeds
of new issues was used this way in
1968; this accounted for most of the
large increase in other corporate claims
(which also includes trade credit). Such
use of the proceeds neutralizes the
favorable impact of the initial borrowing.
Another major change in 1968 was
a $1.0 billion increase, to $7.1 billion,
in adjusted earnings 3 on U.S. direct
investment abroad. This increase in
earnings was mostly associated with
accelerated economic growth in WestTable 4.—Flows of Certain U.S. Corporate Funds—-Changes in Foreign Assets and Lia- ern Europe and elsewhere. Part of the
bilities, Adjusted Earnings, and Fees and Royalties
earnings were repatriated to the United
[Millions of dollars]
States as income on direct investment,
Western Europe
Total
which rose to $5.0 billion from $4.5
Debits (-), credits (+ )
billion in 1967. The rest, as noted
1967
1965
1966
1968
1965
1966
1967
1968
earlier, was used to finance part of the
large increase in direct investment
Net flow
2,960
5,544
-119
393
2,114
7
2,803
2,055
assets.
Change in direct investment position . . .
-4,994 -5,303 -4,709 -5,270 -1,856 -2,227 -1,714 -1,460
Balance of payments flows
-995
-3,468 -3, 639 -3,154 -3, 025 -1,479 -1,813 -1,480
Increased fees and royalties from U.S.
Reinvested earnings.-. . -.. -441
-435
-269
-1,542 -1,739 -1,598 -2, 142
-408
Other adjustments _
-24
35
21
16
75
-103
31
43
direct investments made a minor con-221
-725
-444
Other corporate claims..
.
.
-926
26
-434
-590
368
tribution to the improvement in the net
Long-term 1
-76
-174
-149
-112
-79
-281
30
-88
Short-term
... ..
-576
-145
-365
456
-752
-322
-309
-4
flow in 1968. Note that the change in
directly from foreign banks and others.
Whether the proceeds of the borrowings
are used to finance direct investments,
are repatriated to the United States, or
are left on deposit abroad for later
utilization is also important. The use
made of the earnings of foreign affiliates
of the U.S. corporations must also be
considered, particularly as to whether
they are reinvested or are returned to
the United States as income on direct
investment. Fees and royalties from
U.S. direct investment must also be
counted. The calculation of the net flow
resulting from these identifiable corporate transactions is detailed in table
4. Note that in this table, balance of
payments signs are used and increases
in U.S. claims abroad are therefore
shown as minuses.
It must be emphasized, however,
that the calculated net flow does not
fully reflect all the influences on the
balance of payments of U.S. corporate
international transactions. The impact
on U.S. exports and imports of U.S.
direct investment abroad is not considered, for instance, although direct
investments may have a substantial
influence on both. Furthermore, large
borrowings abroad by U.S. corporations
may tend to reduce foreign purchases
of other U.S. securities, such as stocks.
Corporate liabilities other than new issues of securities. .
Long-term..l
Short-term
New issues of securities 2
Of which: Used for direct investment
Deposited abroad (short-term
claims)
corporate
Adjusted earnings
Reinvested earnings .
Income on U.S. direct investments abroad .
Fees and royalties from U.S. direct investment
Offset to "other adjustments" in direct investment
136
29
107
191
-58
Such substitution effects cannot be
measured. Whether the net impact of
corporate transactions would be favorable or adverse after taking these
effects into account is not known.
Besides these limitations, it might
also be noted that we are restricting
the analysis to transactions between
U.S. corporations and foreigners. Thus,
borrowing abroad by foreign affiliates
of U.S. corporations and their internally
generated depreciation reserves are
excluded. The use of such funds, perhaps for plant and equipment expenditures or to increase working capital, is
also excluded. While these flows have
110 net impact on the balance of payments or on the U.S. international
investment position, nevertheless, a
full analysis of U.S. corporate activity
abroad would have to take them into
account.
In 1968, the net flow of corporate
funds associated with these identified
transactions had a favorable impact
on the U.S. balance of payments of
$5.5 billion. This was some $2.7 billion
higher than in 1967, and about $3.4
billion above the 1965-66 average.
Offsetting the increase in direct investment, new issues of securities rose to
$2.1 billion from about $0.5 billion in
1967. In addition, other borrowing
325
64
261
1,100
673
427
446
2,129
n.a.
n.a.
n.a.
1,165
435
730
1,119
269
850
1,357
441
916
459
180
279
448
85
363
1,102
673
429
119
23
96
594
446
-278
2,129
-785
n.a.
n.a.
n.a.
-96
-973
n.a.
1,176
408
768
191
371
192
179
594
n.a.
-189
-445
-143
5,505
1,542
3,963
5,784
1,739
4,045
6,115
1,598
4,517
7,127
2,142
4,985
924
1,030
1,136
1,279
382
443
473
535
-16
-75
103
-31
-21
-35
24
-43
N.a. Not available.
1. Excludes brokerage claims and liabilities.
2. New issues of securities sold abroad by U.S. corporations exclude securities issued by subsidiaries incorporated abroad
and also exclude funds obtained abroad by U.S. corporations through bank loans and other credits. However, securities issued
by subsidiaries incorporated in the Netherlands Antilles are treated as if they had been issued by U.S. corporations if the
proceeds of such issues are transferred to U.S. parent companies.
3. Earnings, as normally denned in this article, are equal
to reinvested earnings, plus income on U.S. direct investments abroad, minus interest income (since interest is included in the balance of payments entry for income on U.S.
direct investments abroad but not in earnings), plus foreign
withholding taxes on dividends paid by foreign affiliates
(since withholding taxes, although included in earnings,
are not transmitted to the United States as income). To
analyze the balance of payments impact of earnings, a simple
concept is useful: Adjusted earnings—used only in table 4
and in this section of the article—are denned as income on
U.S. direct investments plus reinvested earnings. Thus,
adjusted earnings equal earnings plus interest payments,
minus foreign withholding taxes.
SURVEY OF CUERENT BUSINESS
28
associated with the Foreign Direct Investment Program which was tightened
and made mandatory early in the year.
Clearly, the increase in borrowing
abroad by U.S. corporations and the
use of the proceeds to finance direct investment was in large part due to the
program. Furthermore, the program
was most restrictive for Western Euro-
total of all countries, the second factor
washes out so that the adjustment only
reflects a change in valuation. These adjustments, however, do not affect the
net flow since equal entries, with opposite signs, are included elsewhere in
the table.
Most of the $2.7 billion improvement
in the net flow in 1968 was probably
the direct investment position between
yearends is partly due to "other adjustments. " For particular countries or
areas, this adjustment is made to take
account of valuation changes in the
book value of direct investments, as
well as flows of funds due to transfers
between directly owned foreign affiliates
and indirectly owned firms. For the
Table 5.—-Value of Direct Investments Abroad 1 by Selected Countries and
Industries, at Yearend
October 1969
Table 6.—Direct Investment Capital Outflows
Foreign Corporations,
[Millions of dollars]
Table 5
Table 6
Line
Area and country
1968 *
Total
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
All areas, total
59,486
Canada
18,097
Latin American Re10,265
publics, total.
1,343
Mexico
Panama
801
Other Cent. Amer.
758
&W.I.
Argentina
1,082
Brazil
1,327
879
Chile
Colombia
597
Peru
660
Venezuela . .
2,555
Other countries
263
Other Western Hemi1,779
sphere
17,926
Europe, total
Common Market, total. 8,444
Belgium & Luxem867
bourg.
France. _
1,904
Germany
3,486
Italy
1,246
Netherlands
942
Other Europe, total
9,482
Denmark
273
Norway . . .
183
Spain
480
Sweden
438
1,322
Switzerland
United Kingdom
6,113
Other countries673
31
32
33
34
2,273
Africa, total
-.
Liberia
174
Libya
451
Republic of S. Africa.. 666
Other countries
982
35
Asia, total
30
5,636 64,756
5,370 18,835 26,354
2,672
5,266
6,258
3,154
3,025
383
905
556
8,095
506
1,038
2,298 19,488
2,636
4,088
8,546
599
1,115
2,505
403
594
194
163
9
228
1,277
2,903
3,305
621
1,207
952 11,010
1,402
2,976
3,699
627
1,249
1,057
184
461
119
59
211
73
100
19
34
44
158
184
890
33
105
27
46
155
166
326
43
115
218
238
1,459
922
795
112
19
33
44
176
198
998
58
121
27
53
147
181
340
45
97
276
251
-4
3
62
55
75
27
5
-1
10
11
59
20
16
-8
46
4
(*)
68
516
(*)
397
(*)
19
(*)
79
(*)
294
35
1,793
100
678
893
61
192
98
311
44
(*)
32
(*)
29
21
19
28
53
195
37
56
54
253
23
351
61
265
26
55
180
48
1,148
1,484
964
629
692
2,620
298
81
586
(*)
421
(*)
24
(*)
83
(*)
324
39
1,780
122
729
1,021
68
193
96
376
38
(*)
28
(*)
29
22
18
33
57
197
39
58
51
255
25
362
74
270
25
62
190
55
62
39
24
20
61
-97
14
28
80
82
31
24
24
35
'I
<%>
5
(*)
28
4
-9
22
18
65
3
4
-2
31
-3
10
14
1
-1
(**)
2
11
431
569
276
51
94
358
1,979
473
667
291
58
94
395
107
111
54
81
2
-27
61
4,423
9,798
78
2,060
1,507 19,386
61
4,640 10,778
94
2,126
1,688
1,480
995
-2
321
552
124
19
2,086
4,976
49
853
461
8,992
19
2,149
5,373
54
848
549
852
425
135
233
58
30
542
1
142
151
963
14
583
1
159
205
90
60
-8
7
61
302
1,047
486
221
1,312
2,064
595
463
14
14
1
18
195
258
98
161
70
103
66
79
1,910
3,774
1,272
1,073
293
1,104
479
259
1,345
2,273
614
557
14
18
3
18
163
264
105
157
84
115
71
82
138
447
107
70
-21
236
28
122
8
A
-13
89
12
55
3
133
9
80
-11
13
8
-14
2,337
4,821
29
1,206
2,490
5,405
39
1,278
1,139
628
569
319
64
(**)
(**)
10
(**)
3
20
27
8
601
379
27
204
200
587
511
1,436
6,703
753
",
19
111
101
140
281
8
1,562
288
48
51
306
134
335
4,257
274
R13
12
6
36
24
94
83
430
411
129
6
41
26
100
88
470
417
137
3
22
28
8
624
445
28
50
11
70
70
29
353
44
-63
11
111
84
11
375
40
-68
11
45
42
1
153
2
2
21
45
49
257
97
282
3,878
214
(*)
(**)
186
188
90
93
250
9
1,432
276
3
1
5
7
-29
70
7
400
1,219
370
3
151
131
2,673
387
1,567
400
4
163
152
175
308
152
446
36
11
174
678
692
1,130
(*)
(*)
78
236
(*)
(*)
147
764
(*)
(*)
332
66
24
6
96
38
150
672
38
20
-26
51
35
115
-11
214
5
100
1,138
(**)
10
8
(**)
42
8*
R2
1,046 10,394
(**)
10
8
(**)
42
1
(*)
(*)
(**)
(
lo
(*)
(*)
8
(*)
(*)
9
2
(*)
(*)
-14
3
(*)
(*)
14
-4
-11
214
5
1
1
162
49
22
39
2
-4
123
47
26
8
4
10
21
11
3
67
-1
80
36
74
22
74
-1
55
3
6
988
76
321
261
4,693
44
2,800
88
355
269
325
234
3
1,608
59
6
19
54
1,803
3
1,654
63
7
20
56
150
37
992
929
69
303
208
2,891
42
1,146
1,075
82
334
213
174
197
(*)
(*)
125
425
216
162
2
2
39
27
39
77
87
99
101
366
296
477
281
1,048
668
894
(*)
(*)
(*)
(*)
131
521
237
185
1
3
39
38
41
98
88
107
107
426
303
564
17
34
30
93
7
77
21
92
1,503
3
163
138
332
164
33
1,418
85
3
1
126
37
734
51
329
3
162
2
33
(**)
54
150
158
2,540
267
870
639
765
40
(*)
(*)
(*)
8
(*)
(*)
(*)
2,520
322
592
1,336
2
140
128
2,821
367
320
2
(*)
(*)
1,262
74
2
101
38
674
46
2,645
175
365
2
43
44
Australia
Other countries..
2,360
360
45
International shipping
2,336
1,279
(**)
1,057
2,705
' Revised.
v Preliminary.
* Combined in" other" industries. **Less than $500,000.
1. The value of investments in specified industries and countries is affected by capital
flows among foreign affiliates as shown in table 11.
2. Income is the sum of dividends and interest, net after foreign withholding taxes,
646
(*)
(*)
1,451
1,200
(**)
61
35
38
152
31
313
2,600
(*)
(*)
(**)
(*)
(*)
(*)
(*)
100
42
(*)
(*)
(**)
1,181
-15
4,289
Far East, total
(*)
(*)
(*)
304
65
37
Oceania, total .-
5,010
3,819
(*)
(*)
139
638
1,749
42
2,393
2,342
4,876 17,404 24,167
(*)
(*)
99
227
Middle East
IndiaJapan
Philippine Republic..
Other countries-
Mining
Man- PubMining
Man- Pub1967'
Mining
Manlic
lic
Trade Other Total
and Petro- ufacTrade Other
Total
and Petro- ufacand Petro- ufac- Other
smelt- leum tur- utilsmelt- leum tur- utilsmelt- leum turing
ing
ing
ing
ing
ities
ing
ities
22
5
88
36
36
38
39
40
41
Net capital outflows
1968 P
1967 r
(**)
1
(*)
(*)
(*)
(*)
(*)
(*)
46
112
received by, or credited to, the account of the U.S. owner, and branch profit after foreign
taxes but before U.S. taxes. Earnings is the sum of the U.S. share in net earnings (or losses)
of foreign corporations and branch profits after foreign taxes but before U.S. taxes. Reinvested earnings is computed as the difference between the U.S. share of net earnings (or
SURVEY OF CURRENT BUSINESS
October 1969
29
pean countries and, as is clear in table 4,
most of the improvement in 1968 was
concentrated in Western Europe. However, the figures to some extent overstate the Western European contribution in 1968. The improvement there
was largely due to the fact that all of
the new issues of securities were floated
in Europe. Yet, a significant part of the
funds used to purchase the new issues not contribute to the favorable shift.
may have come ultimately from sources On the other hand, direct investment
outside of Europe.
targets are sometimes set independently
The $1.0 billion increase in earnings of earnings, and whether earnings or
also made a significant contribution to borrowed funds are used to finance the
the 1968 improvement in net corporate investment is a matter of corporate
flows. Of course, to the extent that preference or negotiation with the Office
higher earnings resulted in larger direct of Foreign Direct Investment. (See the
investments, the rise in earnings did discussion of earnings below.)
and U.S. Share in Reinvested Earnings of
by Selected Countries
Table 7.—Direct Investment Earnings and Income,2 by Selected Countries
[Millions of dollars]
Table 6— Continued
Table 7
2
Reinvested earnings of foreign corporations
Earnings
1968 *
1967 '
Total
Mining
and
smelting
Income
1968 »
Petroleum
Manufacturing
Other
1967 r
Total
Mining
and
smelting
Line
1968 P
Petroleum
Manufacturing
Other
1967'
Total
Mining
and
smelting
Petroleum
Manufacturing
Other
1,598
2,142
126
239
1,246
531
6,034
7,010
789
2,466
2,514
1,242
4,518
4,985
645
2,288
1,275
776
644
762
102
107
407
147
1,327
1,478
285
243
672
278
790
849
180
160
306
203
181
297
7
25
181
84
1,208
1,367
294
478
389
206
1,022
1,063
275
452
206
131
57
26
11
63
47
9
7
2
9
3
50
2
5
35
6
121
76
61
132
101
66
17
3
10
5
95
17
3
17
74
46
62
58
53
67
62
61
9
12
1
5
2
45
17
4
12
41
42
-3
39
2
7
-4
39
7
35
73
3
1
9
56
30
62
4
-2
1
37
-3
5
8
7
2
6
13
3
80
116
150
15
91
484
13
126
159
154
17
108
490
13
8134
51
16
14
1
9
49
6
89
66
143
6
103
435
6
94
75
144
16
99
430
14
8131
83
2
2
10
387
8
76
124
7
13
5
54
-4
1
9
380
9
48
56
2
15
4
15
46
8
11
(**)
3
35
4
1
1
1
1
13
28
190
219
98
57
19
45
168
169
99
41
10
19
1
8
1,038
453
849
915
6
4
587
318
1c
438
34
331
73
17
40
2
57
173
37
47
-4
18
6
13
1
1
1
1
2
2
(**)
(*)
(*)
(*)
-8
(*)
1
(*)
1
29
59
1
269
442
2
41
101
21
26
4
-27
23
19
(*)
2
(**)
6
(**)
(**)
17
-112
12
(*)
(*)
425
127
1,143
1,365
(*)
-77
162
16
448
540
(**)
-9
31
4
55
89
20
49
2
4
(*).
(*)
(*)
3
-32
-18
-21
29
76
12
14
-11
4
8
11
59
223
50
61
91
258
45
56
228
341
(*)
-35
263
112
695
825
-5
5
-2
—5
114
81
40
-6
6
2
-11
102
208
39
g
2
-12
-4
—21
9
1
3
-5
2
24
212
27
2
3
5
-1
83
18
2
-4
(**)
14
17
210
378
79
-3
-1
19
17
205
506
83
46
71
15
20
33
421
671
-5
3
36
12
7
11
26
26
(*)
(*)
16
5
16
292
128
-15
20
506
120
26
(*)
(*)
5
7
11
17
10
<**)
(**)
(*)
(*)
(**)
(*)
2
-7
6
(*)
(*)
(*)
(*)
(*)
85
(*)
19
(*)
-134
(*)
(*)
(*)
11
(*)
C*)
(*)
-51
499
92
398
(**)
-4
47
46
32
57
(*)
(*)
(*)
17
-26
-19
-19
89
263
49
51
-14
21
15
24
50
241
28
46
65
212
43
61
(*)
(*)
(*)
(*)
-83
539
369
452
476
(*)
-30
256
251
2
—14
-15
2
-12
-13
—46
16
4
4
1
9
43
442
35
7
10
16
20
175
110
32
4
-5
16
23
99
274
40
7
-8
17
29
105
(*)
(*)
—1
-16
-1
(**) 0
3
2
6
7
20
209
8
6
6
12
21
93
84
30
2
2
2
2
2
2
2
69
501
42
58
364
583
31
27
(*)
(*)
(*)
-22
37
6
20
506
52
15
22
289
80
-26
13
496
74
1
(*)
(*)
(**)
(*)
(*)
(*)
281
46
(*)
(**)
12
21
(**)
—12
(**)
(*)
(*)
(*)
7
63
483
32
22
(*)
(*)
(*)
-27
(*)
(*)
21
17
3
3
19
1
13
496
23
5
a
3
3
129
183
44
105
34
1,343
1,473
1,182
199
92
1,211
1,282
1,143
84
55
3
-14
23
13
1
9
1,004
1,101
1,079
6
17
1 018
1 080
1,069
4
8
3
142
160
31
104
24
339
372
104
194
202
75
80
47
3
7
79
30
28
7
103
12
38
2
86
3
13
5
17
9
25
20
123
61
136
21
166
53
133
12
127
25
29
75
9
39
27
103
193
11
46
26
110
11
60
34
96
8
37
19
16
4
23
15
80
3
3
4
4
117
132
12
95
6
171
208
34
154
24
57
85
23
62
18
4
104
13
118
13
12
83
12
24
2
151
20
193
14
33
141
13
19
(**}
50
7
85
1
23
61
2
1
-1
4
4
183
196
72
232
229
86
57
38
16
4
(**)
(*)
(*)
(*)
(*)
(*)
(*)
19
(*)
(*)
124
(**)
(*)
(*)
*
(*)
(*)
(*)
(**)
losses) of foreign corporations and the U.S. share of gross dividends (dividends before deduction of withholding taxes). In order to reconcile the data in table 7 with reinvested earnings
in table 6, the following formula applies (stated in millions of dollars for 1968): Earnings
-5
(*)
(*)
144
(**)
(**)
(*)
(*)
*
(*)
(*)
(**\
-18
(*)
/*\
22
($7,010) -1-interest ($395) equals income ($4,985) +withholding taxes ($278) -freinvested earnings
($2,142).
SUEVEY OF CUKEENT BUSINESS
30
October 1969
percent. The increase in direct invest- total direct investment during the year.
ment in "International and unallo- This increase in manufacturing was
The increase in the book value of cated" of $0.4 billion was mostly in about $0.1 billion higher than in 1967
direct investment (including both cap- shipping. In 1967 developed countries but still below the 1965-66 increases.
ital flows and reinvested earnings) in received $3.5 billion of the increase in Some $1.2 billion of the increase
the developed countries of Canada, direct investment and developing coun- represented reinvested earnings, up
Europe, Eepublic of South Africa, tries received about $0.8 billion of the from $0.8 billion in 1967, and $0.9
Japan, Australia, and New Zealand $4.7 billion total increase (including billion was from capital outflows, down
totaled $3.4 billion in 1968. Manufac- "international"). The difference be- from $1.2 billion in 1967. Western
turing industries received 50 percent, tween the increases in investment in Europe received about $1.0 billion of the
petroleum 21 percent, mining 9 percent, developing areas in 1968 and in 1967 1968 increase in manufacturing inand other industries (mainly trading was mostly due to higher 1968 invest- vestment compared with $0.9 billion in
and financial) 20 percent. The increase ment in petroleum, banking, financial, 1967. In the United Kingdom higher
in Europe was lower than in 1967 but and other service industries. (See tables reinvested earnings and large acquisithe increases in other developed coun- 5-8 and chart 13.)
tions of several British firms in the
tries were larger. The increase in investtobacco and food manufacturing inment in the developing countries of Manufacturing
dustries resulted in a particularly large
Latin America, Africa, and Asia totaled
increase in investment. In Germany the
The book value of direct investment capita] flow for direct investment
$1.5 billion. Manufacturing and petroleum affiliates each received about 33 in manufacturing enterprises rose $2.2 dropped, but was partly offset by higher
percent, with mining investments re- billion in 1968 and accounted for 40 reinvested earnings. In Canada a higher
ceiving 13 percent and "other" 20 percent of the $5.3 billion increase in ratio of reinvestment out of improved
Country and industry distribution
Table 8.—Selected Data on Direct Investments Abroad, by Major Areas
[In millions of dollars]
Book value at yearend
Total
Net capital outflows
31,865
34, 717
37, 276
40,736
44,480
49,474
54,777
59,486
64,756
2,997
3,094
3,244
3,419
3,665
3,931
4,365
4,876
5,370
10, 810
12, 190
12, 725
13, 652
14,328
15,298
16,200
17,404
18,835
11, 051
11,997
13, 250
14,937
16,935
19, 339
22, 078
24, 167
26,354
7,007
7,436
8,057
8,728
9,552
10,906
12,134
13, 039
14, 196
Canada:
1960
1961
1962
1963
1964
1965
1966
1967
1968 . .
11, 179
11, 602
12, 133
13,044
13, 855
15,318
17,017
18,097
19,488
1,325
1,367
1,489
1,549
1,713
1,851
2,089
2,342
2,636
2,664
2,828
2,875
3,134
3,196
3,356
3,608
3,819
4,088
4,827
5,076
5,312
5,761
6,198
6,872
7,692
8,095
8,546
Latin America: 1
1960
1961—
1962
1963.
1964—
1965
1966 .
1967. ..
1968—
8,365
9,239
9,524
9,941
10,254
10,886
11, 498
12, 044
12, 989
1,319
1,332
1,321
1,353
1,404
1,474
1,565
1,708
1,875
3,122
3,674
3,642
3,636
3,589
3,546
3,475
3,472
3,643
Europe:
1960.
1961
1962
1963
1964
1965—
1966—
1967
1968
6,691
7,742
8,930
10, 340
12, 129
1'3, 985
16, 212
17, 926
19,386
49
48
50
55
56
54
54
61
61
Other areas:
1960
1961
1962..
1963—
1964
1965
1966 .
1967—
1968...
5,630
6,134
6,689
7,411
8,242
9,285
10, 051
11, 418
12, 892
304
347
384
462
492
552
658
764
798
Income
Mining
ManuMining
Mining
ManuManuManuMining
and
Petro- factur- Other Total and
Petro- factur- Other Total and
Petro- factur- Other Total and
Petro- factur- Other
smelt • leum
ing
smelt- leum
ing
smelt- leum
ing
smelt- leum
ing
ing
ing
ing
ing
AH areas, total:
1960 .
1961 _
1962
1963
1964
1965
1966 .
1967 .
1968 .
*Less than $500,000.
Earnings
3,025
155
70
97
85
136
138
305
330
383
452
793
606
828
760
977
863
1,097
1,181
801
462
712
774
1,034
1,525
1,752
1,229
905
266
274
239
289
398
828
718
499
556
2,363
2,331
2,457
2,600
2,748
3,239
3,628
3,842
4,219
451
302
314
365
298
962
1,153
403
594
199
9
85
7
91
51
172
173
194
135
100
159
188
25
179
155
115
163
29
117
12
120
140
395
566
20
9
1,521
1,707
1,944
2,213
2,507
2,945
3,318
3,581
3,990
2,403
2,526
2,617
2,739
2,754
2,921
3,141
3,283
3,480
149
219
29
235
113
271
307
291
572
—60
32
—13
24
30
43
60
71
173
24
63
—67
5
7
—74
-37
—66
140
1,763
2,152
2,385
2,776
3,122
3,427
3,981
4,423
4,640
3,804
4,255
4,883
5,634
6,587
7,606
8,879
9,798
10, 778
1,075
1,287
1,612
1,875
2,364
2,898
3,297
3,645
3,908
962
724
868
924
1,388
1,479
1,812
1,480
995
3,261
3,536
3,823
4,106
4,421
4,969
5,136
5,690
6,464
899
959
1,111
1,329
1,643
1,916
2,190
2,694
3,041
1,166
1,292
1,371
1,514
1,686
1,848
2,067
2,270
2,589
112
354
443
452
529
756
366
981
864
1,674
1,599
1,654
1,976
2,328
3,468
3,639
3,154
1. Includes "other Western Hemisphere."
3,566
1,302
1,476
1,695
1,824
1,808
1,830
1,868
2,120
2,288
550
722
746
656
893
1,094
1,116
1,193
1,275
318
413
415
437
522
628
624
740
776
47
51
60
80
118
110
120
154
180
60
78
79
80
118
122
112
132
160
176
213
221
192
269
315
354
296
306
78
122
116
103
129
156
170
208
203
719
824
891
956
1,011
995
1,113
1,190
1,232
234
198
221
210
245
266
327
365
374
331
438
488
544
531
476
499
480
493
64
75
71
70
98
123
147
195
216
90
113
111
132
137
130
140
151
150
181
236
283
298
321
350
370
388
453
397
486
526
507
659
768
729
849
915
11
9
7
6
5
8
11
7
6
55
47
63
73
64
17
4
6
4
241
326
331
305
427
532
489
561
587
90
104
122
123
163
211
225
275
318
150
159
198
186
202
237
240
243
260
878
994
1,151
1,211
1,370
1,497
1,447
1,689
1,988
45
39
30
25
35
58
66
70
86
704
773
935
,018
,143
,184
,166
,371
1,630
69
108
120
89
99
124
126
141
167
60
74
66
79
93
131
89
106
106
7,010
394
362
372
388
512
571
659
746
789
2,466
2,514
694
774
861
834
899
1,037
1,071
1,112
1,242
88
76
58
50
42
337
260
95
228
718
726
825
948
1,106
1,209
1,237
1,327
1,478
88
96
97
127
191
198
191
240
285
98
114
121
149
170
183
196
207
243
398
360
460
525
565
606
628
613
672
125
78
133
150
137
245
160
194
213
60
46
—24
56
—61
57
125
92
46
970
1,079
,179
,125
,244
,320
,452
,398
,586
224
206
230
219
266
290
359
397
392
370
478
543
532
539
513
512
519
535
2
—1
1
7
-2
273
376
229
362
414
342
636
545
321
607
233
453
395
619
760
899
683
552
82
115
183
166
353
378
277
244
124
769
837
844
996
1,115
1,176
1,161
1,143
1,365
10
8
5
4
4
8
10
6
8
16
29
22
53
13
45
72
78
19
20
254
285
273
314
530
110
502
557
40
34
114
109
138
125
128
331
132
36
37
22
17
64
56
57
69
157
1,109
1,173
1,387
1,518
1,606
1,755
1,852
2,167
2,581
72
52
40
38
51
75
99
102
103
(*)
(
\1
3,815
4,235
4,587
5,071
5,460
5,702
6,034
1,176
1,203
1,307
1,541
1,852
2,355
2,768
3,044
4,985
337
297
318
321
403
442
524
596
645
134
156
147
147
180
222
222
267
278
361
464
476
455
634
703
756
790
849
147
172
173
171
243
289
342
269
408
229
223
233
203
196
228
239
213
251
91
63
60
67
8
—41
—79
-99
-134
487
530
496
627
782
859
860
847
1,038
743
821
971
1,076
1,091
1,175
1,239
1,494
1,822
144
141
178
218
262
268
274
327
395
2,022
2,104
2,055
3,129
3,674
3,963
4,045
4,518
1,150
1,336
1,565
1,715
1,856
1,799
1,781
1,989
October 1969
earnings added about $0.4 billion to
manufacturing investments, moderately
above 1967.
Direct investment in Latin American
manufacturing affiliates also rose significantly faster in 1968 than in 1967
as plant and equipment expenditures
accelerated, particularly in Argentina,
Brazil, Mexico, and Venezuela. Reinvested earnings rose particularly fast,
with larger net capital outflows as well.
In Australia the rise in investment was
slower than in 1967 because of completion or near completion of large
plant expansions in the primary and
fabricated metals industries. The rate
of investment in manufacturing affiliates in African and Asian developing
countries dropped by about 50 percent
as expenditures for plant and equipment
showed marked decreases from earlier
years.
Petroleum
In the petroleum industry, the increase in book value of direct investment was $1.4 billion in 1968, as
compared with $1.2 billion in 1967.
Most of the new investment involved
capital outflows. Reinvested earnings
were about $0.2 billion, only slightly
higher than in 1967. That reinvested
earnings are such a small proportion
of the increase in direct investments
reflects the fact that a major part of
petroleum investment abroad is organized in the form of wholly owned
branches in which all increases in
investment are counted as a capital
outflow.
Investment in Canadian enterprises
continued to grow by about $0.3 billion,
as the need for refining, marketing and
producing facilities attracted additional
U.S. capital and encouraged further
reinvestment. The book value of U.S.
investment in Latin American petroleum enterprises had been on the
decline since 1961 but during 1968 the
trend was reversed. About $0.2 billion
of additional investments were made
in Colombia, Bolivia, Ecuador, Panama, and the "other Western Hemisphere" countries for refinery, pipelines and marketing facilities. Investment in European petroleum affiliates
increased by more than $0.2 billion.
SURVEY OF CURRENT BUSINESS
Intensive development of offshore oil
and gas resources added to investment
in the United Kingdom and other
North Sea countries, while refining
and distribution facilities (including
pipelines) increased petroleum investments in Germany and the Netherlands.
Petroleum investments in Africa rose
by over $0.3 billion. More than twothirds of this was invested in Libya,
with West African countries receiving
most of the rest. Petroleum investment
in the Middle East rose by less than
$0.1 billion in 1968, about the same as in
1967, as exploration and development
activity continued to shift to other areas,
especially to Africa and Latin America.
In the Far East, Japanese petroleum
affiliates attracted substantial amounts
of investment funds and the remainder
was spent to meet the demand for new
and enlarged refining and marketing
facilities in other Far Eastern countries.
31
Mining and other
The book value of U.S. direct investment in foreign mining enterprises rose
$0.5 billion in 1968, about the same
increase as in the preceding year.
Reinvested earnings were about $0.1
billion. The rest was capital outflows,
but over $0.1 billion of this represented
the placement with U.S. purchasers
(other than the parent company) of a
new debt issue of a publicly owned
Canadian mining company whose voting stock was more than 50 percent
held by U.S. residents. The value of
U.S. direct investments in Latin American mining affiliates increased during
1968 by almost $0.2 billion. The increase was concentrated in Mexico,
Brazil, Chile, and Peru. U.S. direct
investment in Australian mining ventures showed a relatively small increase
as construction of some of the new
CHART 13
Annual Additions to Direct Investments Abroad by Industry and Major Area
Billion $
(ratio scale)
Billion $
8
- BY INDUSTRY
- BY AREA
Total
Total
Petroleum
Latin Americal
I
.2
I960
I
62
i
i
64
I
i
66
1. Includes other Western Hemisphere
U.S. Department of Commerce, Office of Business Economics
68
1960
62
I
i
64
I
I
66
I
I
68
32
SUEVEY OF CUEEENT BUSINESS
iron ore and bauxite mining projects
were either completed or approaching
completion.
U.S. direct investment in public
utilities, trade and other industries
increased during 1968 by over $1.1
billion, compared with only $0.9 billion
in 1967. About one-half of this total
reflects investments in the finance and
service industries. Canada and Europe
together received about two-thirds of
Earnings of Foreign Affiliates
Billion $ (ratio scale)
_ BY INDUSTRY GROUP
TOTAL ^
Manufacturing
Petroleum
\
\\
?
^
Other
I
I
I
I
I
I
I
I
MANUFACTURING AFFILIATES
TOTAL
\
1960
61
62
63
64
65
U.S. Department of Commerce, Office of Business Economics
66
67
68
69-10-14
these new investments reflecting acquisition and expansion of banking and
other financial affiliates, as well as
leasing and service facilities by computer and other heavy equipment firms.
The primary reason for an increased
investment in the public utility industry in Canada was the private placement of a $70 million debt issue of a
U.S.-owned Canadian firm with
U.S. investors other than its parent
company.
October 1969
Argentina, Brazil, and Mexico had the
largest gains.
Direct investments in Europe earned
$1.4 billion in 1968, a $0.2 billion increase over 1967. Manufacturing affiliates, which account for the bulk of
earnings, recovered from the business
slowdown of 1967 and increased earnings by almost $0.2 billion. The petroleum industry in Europe had losses of
over $0.1 billion, somewhat larger than
the losses in 1967, as exploration and
development expenditure in the North
Sea increased. With the exception of
Earnings
France, all Common Market petroleum
Earnings on U.S. direct investments affiliates recorded losses from operaabroad (not adjusted) in 1968 increased tions, in part reflecting the pricing
$1.0 billion to nearly $7.0 billion (table arrangements by which international
7 and chart 14). As a result of the surge oil companies attribute earnings to
in earnings, the rate of return on all production rather than marketing areas.
U.S. direct investments abroad reAfrican affiliates earned $0.7 billion
covered to almost 12 percent from the in 1968, a $0.3 billion increase over
1967 low of 11 percent, although it 1967. Petroleum accounted for $0.5
remained somewhat below the levels of billion of total earnings and most of the
the early 1960's (chart 15). The major increase reflected the unusually large
explanation of the increase in both
earnings and the rate of return was the
widespread acceleration of economic
growth abroad. Manufacturing and
petroleum affiliates had particularly
Rates of Return on U.S. Direct
large increases in earnings and each
Investments
Abroad
accounted for about $2.5 billion of the
total. Only mining affiliates, with earn- Percent
ings of $0.8 billion, showed a smaller 16
increase than in 1967.
14
U.S. direct investments in Canada
earned $1.5 billion in 1968, about $0.2
billion more than in 1967. Manufactur- 12
ing contributed $0.7 billion of the total.
Higher prices and increased sales raised 10
the level of earnings for the paper and
pulp industry. A large increase in exports of motor vehicles, parts, and
accessories to the United States contributed to the steep rise in earnings for
the Canadian transportation industry. 16
Petroleum
Earnings on U.S. investments in the
14
Latin American republics totaled $1.4
billion in 1968, an increase of $0.2
billion over 1967. The manufacturing 12
industry accounted for most of the
increase. Unlike the other developing 10
Manufacturing
areas, Latin America had large increases in plant and equipment expenditures in manufacturing industries
in the last few years, and this helped
I
i
i
i
i
i
i
I
I960
1962
1964
1966
1968
reverse the decline in earnings suffered
in 1967. Manufacturing affiliates in U.S. Department of Commerce, Office of Business Economics
69-10-15
SURVEY OF CURRENT BUSINESS
October 1969
growth of oil and gas production, especially in Libya. New producing oil fields
in other African countries also were
beginning to show profits and were offsetting losses from continuing exploration and development expenditures.
Middle East direct investments, almost entirely petroleum, earned $1.1
billion in 1968, an increase of only $0.1
billion over 1967. The increase in 1967
was larger than in 1968 despite the
adverse impact of the Middle East war
in June 1967.
Direct investment income
About half of the $1.0 billion increase
in earnings was allocated to income,
which rose $0.5 billion to $5.0 billion in
1968. However, income receipts were
smaller than they would have been (and
33
reinvested earnings higher) as a result affiliates in 1968 totaled nearly $1.3 bilof arrangements made by U.S. corpora- lion. This was an increase of less than
tions with the Office of Foreign Direct $0.1 billion over 1967, as most of the $0.5
Investments to substitute repatriation billion rise in manufacturing earnings
of funds held abroad (the proceeds of was reinvested. About $0.6 billion of the
foreign borrowing) in place of income income came from Europe, $0.3 billion
receipts.
from Canada and $0.2 billion from Latin
Direct investment income from pe- America.
troleum affiliates was nearly $2.3 bilU.S. Portfolio Investments
lion, almost half of the total income in
Abroad
1968. Most of the $0.3 billion rise in
these income receipts reflected increased
During 1968, the value of U.S.
production and profits in African counholdings of foreign bonds and stocks intries, primarily Libya. Petroleum income from Africa was still far below the
$1.1 billion of receipts from more pro- Table 10.—Acquisitions and Sales by
American Companies of Foreign Enterductive but older fields in Middle Eastprises 1 by Area and Industry
ern countries. Income from petroleum
[Millions of dollars]
affiliates in Venezuela was practically
1968
1967
unchanged at $0.4 billion.
Area
and
Income receipts from manufacturing
AquiAquiindustry
si- Sales Net
tions
Table 9.—Net Capital Outflows to Manufacturing Affiliates Abroad by Industry
[Millions of dollars]
Area and year
All areas, total
ChemPaper
Primary
MaManufacFood
and
icals and Rubber and fab- chinery
turing products
allied
allied
products ricated
except
total
products products
metals electrical
Electrical machinery
Transportation
equipment
Petroleum
Manufacturing .
Other industries
Other
industries
Canada, total
All areas total:
1964
1965
1966
1967 »•
1968 *
1, 034. 3
1, 525. 1
1, 752. 0
1, 229. 4
905.3
74.8
115.6
107.7
83.7
101.1
9.1
99.1
151.0
68.2
—7.4
302.7
292.0
503.3
427.7
277 5
16.4
19 0
24.6
10 0
140.0
394.7
566.0
19.8
8.7
29.0
17.7
16.8
—10 3
20.6
—8.6
62 5
125.8
48 3
—17.3
32.2
70 0
90.0
68 3
21 9
—7.1
51
—2 4
69
—7 5
137.2
245.4
159.5
193.7
213.3
-9.2
50.8
10.7
12.3
73.6
82 0
99.5
84 9
47 8
8.5
9.9
2.1
18 6
—.2
28
—.6
—1 1
52
58
4
19
14
33
22
5
0
5
2
618.6
760.5
898.7
683.3
551.7
41.6
40.8
50.9
64.5
54.0
13 6
12.8
21 5
11.5
9.9
163 0
97 0
279 5
201.2
154 1
_ 3
2 4
15 8
19
50
30
60
75
100
89
4
2
3
2
8
65
239
156
64
67
18.6
39.6
18.7
28.2
2.5
1.2
2.5
—.7
.6
2.6
1.8
1.9
—1 3
2.9
—.5
11 5
17 3
37
—2 7
—5 0
4
7
4
4
3
1.7
2.0
1.3
2.0
2.0
24 8
25.1
17 7
55 2
27.8
—.3
.5
8
1.7
(*)
62
15.5
16 0
12 9
25 5
2.1
117 9
285.5
214 9
115 6
70 0
45.8
96.3
134 4
114.7
—7 0
207.1
405.5
317 3
49.9
—2 3
204.9
130.9
196 9
102.8
311 8
9
5
6
4
3
15 3
27 4
32 3
19
11.6
12 7
28 5
4
— 6
48.4
173 2
246.1
—73 0
—103 8
23.0
19 8
7.9
9.5
5
—10 3
10 5
87
13
85
30.1
38 1
—22.1
—4 4
57 4
25.1
26 5
30 5
40 2
63 6
3
6
9
7
8
38 0
53 4
84 0
108 4
—31 0
127 4
176 0
91 4
82.1
26 8
139 6
78 3
123 5
48 8
175 4
3
3
8
2
2
(*)
(*) 3
69 8
83.7
134 4
242.1
151 6
Canada:
1964
1965
1966
1967
1968
—3
6
23
—23
29
1
5.3
g
66 0
Latin America: 1
1964..
1965
1966
1967
1968
13 2
17 3
41
Europe :
1964
1965
1966
1967
1968
508
Petroleum
Manufacturing .
Other industries
190
765
196
569
22
230
32
625
7
138
25
487
121
183
-62
108
50
58
114
38
76
118
3
115
2
3
8
89
Petroleum
Manufacturing .
Other industries
Europe, total.
318
22
365 "135"
Sales Net
sitions
2
41 ""38"
"(*)"
8
89
71
21
2
19
237
511
145
366
12
270 ""67"
12
203
4
460
1
127
3
333
8
22
47
16
31
205 -123
137
48
89
8
24
20
76
6
11
14
65
175 -155
40
32
8
71
312
75
30
Other areas, total.
82
Petroleum
Manufacturing
Other industries
8
54 ""36"
20
*Less than $500,000.
1. Includes acquisitions and sales of minority interests.
Table 11.—Net Capital Flows Between
Primary and Secondary Foreign Affiliates
[Millions of dollars; net inflow (—)]
1963
1964
1965
1966
1967
1968P
Africa:
1964
1965
1966
1967.
1968
9.3
17
24
.6
52
4
10
—1.3
18
73
_ 3
70
—3
7
2
15
2
1
2
3
5
7
7
5
4 2
2 3
13
Asia:
1964
1965
1966
1967
1968..
60.6
57.8
58.0
106.0
48.7
4.6
-1.2
6.6
12.2
6.8
33
(*)
—1.8
2 3
9
— 2
3 7
35
2 4
15
10 7
— 6
74
50
20 6
—20 7
14 1
131 0
12 9
7
11 4
6 5
83
21 1
—76
5
17
15
3
6
8
4
9
5
5
3
15
1
I i
18
8
7
2
6
9
7
4
1
6
1
Oceania:
1964
1965
1966
1967
1968
59.2
27.0
51.0
198.4
73.7
r
6.3
6.4
20 2
5.8
8.1
Revised.
* Preliminary.
*Less than $50,000.
1. Includes "other Western Hemisphere."
12 1
4 2
g
6 3
2 4
10
2 4
2 7
4 0
9 5
2 6
28 5
18 1
g
5
78
—1 6
4 3
41
10
Canada..
-4
3
-8
16
1
Latin America
-1
-2
-3
-24
1
-14
-5
14
-14
3
12
-5
—5
8
4
2
7
-1
3
10
Argentina
MexicoPanama
Other Latin
America
Other countries
-3
1
—2
4
-3
-1
-37
-11
4
24
19
43
30
10
—5
-5
—20
-9
105
-2
—5
-5
60
22
—22
-9
77
-6
-16
-7
28
6
-3
13
30
-3
-2
8
-11
-4
-43
(*)
-29
-2
-22
47
-16
-15
-21
4
-1
-19
-20
-32
-22
-12
6
Europe
France
Germany
Italy
Switzerland
United Kingdom .
Other Europe. .
-1
(*)
* Preliminary.
* Less than $500,000.
SURVEY OF CURRENT BUSINESS
34
creased $2.2 billion to $18.2 billion,
after the $1.2 billion increase in 1967
(table 3). Purchases of newly issued
foreign securities totaled $1.7 billion
in 1968 (table 13), up only slightly
from the $1.6 billion of purchases in
1967. Almost all the new securities
purchased were exempt from the Interest Equalization Tax. Purchases of
new Canadian issues (including the
first Government of Canada issue since
1963) amounted to nearly $1.0 billion,
down slightly from 1967. New issues
by international organizations, on the
other hand, rose over $0.1 billion
above the 1967 level. In the first half of
1969, particularly in the second quarter,
new issues were at a slightly lower rate
than in 1968, with Canadian issues
somewhat higher and issues of international organizations somewhat lower.
Redemption of outstanding issues
Table 12.—Direct Investment Receipts of
Royalties and Fees,1 by Areas and Major
Industries
[Millions of dollars]
1968 P
Area and industry
All areas, total
Petroleum
Manufacturing
Trade
Other industries. ..
Canada, total
Total
Royalties,
license
fees,
and
rentals
1,136
1,279
540
156
165
17
728
110
143
823
112
180
449
43
31
374
69
149
243
268
81
187
17
15
73
6
2
130
10
33
1967
r
Management
fees
and
service
charges
739
148
Petroleum.
Manufacturing
Trade
Other industries. _.
186
13
27
202
16
35
Latin America, total 2 _ -
192
228
75
153
32
105
24
32
36
119
27
47
5
56
9
5
30
63
18
42
Petroleum
Manufacturing
Trade
Other industries. . .
Europe:
Common Market,
total
235
281
Petroleum
Manufacturing
Trade
Other industries. _ .
177
27
14
214
27
16
Other Europe, total. .
238
Petroleum
Manufacturing
Trade
Other industries. . .
21
173
22
23
Other areas, total
Petroleum
Manufacturing
Trade
Other industries. . .
18
23
(*)
178
23
(*)
168
8
3
48
19
13
255
128
126
20
186
16
33
2
102
12
12
18
83
4
21
227
247
78
169
68
88
24
71
102
25
9
51
8
62
50
18
48
49
10
r
f> Preliminary.
Revised.
* Less than $500,000.
1. Excludes foreign film rentals.
2. Includes "Other Western Hemisphere."
totaled about $0.5 billion in 1968 and
net purchases of outstanding securities
were small. Thus, the balance of payments outflow for purchasing foreign
securities totaled $1.3 billion. The remaining $0.9 billion increase in the
value of U.S. investment in foreign
securities reflected a $1.1 billion increase
in the value of foreign stock holdings
as foreign stock prices rose, and a $0.2
billion decline in the value of U.S.
holdings of foreign bonds as interest
rates abroad rose.
In 1967, the decline in value of outstanding U.S. foreign bond holdings was
$1.1 billion. This decline, in combination
with a smaller increase in the value of
foreign stock holdings was the major
reason the increase in U.S. portfolio
investment was less than in 1968.
The net capital inflow in 1968
resulted mainly from $0.4 billion of new
foreign direct investments, i.e., the
acquisition or establishment of companies. (Changes in intercompany accounts during the year were nominal.)
About half of the new investment
represented the purchase by an international petroleum company of additional stock in its U.S. subsidiary.
In addition, with the approval of
Japanese financial authorities, parent
organizations in that country made
additional equity investments of almost
$0.1 billion in their U.S. trading subsidiaries, many times greater than in
preceding years. These relatively large
new investments in 1968 were partly
offset by foreign liquidations of ownership in U.S. companies of over $0.1
billion. More than half of this amount
Foreign Direct Investment in was the sale of a single foreign-owned
company to U.S. interests. (See table
the United States
15 for a breakdown by area and by
The book value of foreign direct industry of foreign direct investment
investments in the United States at yearend 1968.)
Earnings from foreign direct investtotaled $10.8 billion at yearend 1968,
up $0.9 billion during the year (table ments in the United States in 1968
14). This was about the same increase totaled $0.9 billion, 8 percent above
as in 1967. The capital inflow in 1968 the previous year. Companies in manuwas $0.3 billion, and reinvested earnings facturing and petroleum industries actotaled $0.5 billion, both higher than counted for more than three-quarters
in 1967. Valuation adjustments—mostly of total earnings in 1968. More than
on securities held by foreign-owned 80 percent of earnings were conceninsurance companies—on the other trated in companies with owners in the
hand, were somewhat less favorable in United Kingdom, Canada, Netherlands,
and Switzerland.
1968.
15
103
October 1969
Table 13.—Newly Issued Foreign Securities Sold to U.S. Residents
[Millions of dollars]
1960
Issuer
Total*
..
Canada
Central government
. ..
Provincial government-guaranteed .
Municipal authorities
Corporate issues . .
.
1961
1962
1963
1964
1965
1966
523
1,076
1,250
1,063
1,206
1,210
1,619
1,659
237
693
125
700
709
922
1,007
82
100
283
32
332
163
244
54
341
141
601
160
946
86
22
26
458
125
253
205
246
251
52
4
14
3
9
179
80
246
390
115
352
320
121
45
45
354
291
63
40
40
70
71
192
61
101
International organizations . . . .
97
12
84
171
113
180
104
323
170
189
50
100
253
289
2
36
396
15
14
14
75
72
3
76
73
3
41
29
11
1
67
67
188
156
19
13
302
257
32
13
164
4
411
440
189
15
..
1969
(Jan.June)
221
39
Other developed countries
1968
554
Japan
Less developed countries
1967
508
101
806
561
15
248
54
244
Memorandum items:
U.S. direct
investment enterprises
total 1
.
- In Canada
.
In less developed countries
In other developed countries
39
1. New issues of U.S. direct investment enterprises placed with other than parent are not included with new issues but
are recorded in the direct investment account.
2. Includes a $7 million placement exempt from IET.
3. Includes a $73 million placement exempt from IET.
SURVEY OF CURRENT BUSINESS
October 1969
Income paid to foreign parents of
U.S. companies was $0.4 billion in
1968. This was only slightly more than
in 1967. Since 1968 earnings of U.S.
subsidiaries were substantially higher
than 1967, reinvested earnings in 1968
were correspondingly higher.
Treasury issues.) In 1967, the capital
inflow was only $1.0 billion and the
total rise in the value of foreign portfolio assets was only $3.0 billion.
Stock purchases
Foreign investors increased their net
purchases of U.S. corporate stocks from
Foreign Portfolio Investment $0.7 billion in 1967 to $2.1 billion during 1968. A good part of the increase
in the United States
was associated with the significant exIn 1968, the value of foreign portfolio pansion of overseas activities by U.S.
assets in the United States rose an security dealers and investment funds,
extraordinary $6.1 billion and totaled complemented by an apparent shift in
$23.8 billion at yearend, when they European investor attitudes in favor of
comprised 29 percent of the calculated equity investments. The strong pervalue of total U.S. liabilities to for- formance of the U.S. stock market was
eigners (tables 2 and 3). In addition to also a factor, although prices in Euroan increase of $1.7 billion in the value of pean stock markets were rising at least
outstanding securities, due primarily to as buoyantly. Unsettling political disappreciation in the value of U.S. equi- turbances, such as the Middle East
ties, capital inflows amounted to an crisis, the invasion of Czechoslovakia,
unprecedented $4.4 billion. (Foreign and the May strikes in France, also
portfolio assets consist of holdings of encouraged the inflow. In some EuroU.S. corporate bonds and stocks, mu- pean countries with large net purchases,
nicipal and state bonds, and U .S. Govern- special circumstances prevailed. For
ment-backed agency bonds, but exclude example, Germany was experiencing a
35
high rate of savings and simultaneously
promoting capital outflows.
During the first half of 1969, however,
foreign net purchases declined and by
midyear became net sales. This decline
was partly associated with the weak
performance of the U.S. stock market,
as well as anticipations of a slowdown
of the U.S. economy with a consequent
reduction in profits. In addition, high
rates in the Euro-dollar market offered
an attractive alternative investment.
Bond purchases
Through 1968, foreigners continued
to add to their portfolio holdings of
U.S. bonds (excluding Treasury issues).
There was a net capital inflow of $2.3
billion, partially offset by a $0.2 billion
reduction in the value of outstanding
holdings as U.S. bond prices declined.
The net increase of $2.1 billion raised
foreign holdings of U.S. bonds to $4.2
billion at the end of 1968. International
organizations, which had borrowed
heavily in the U.S. bond market during
the year, reinvested $0.1 billion of the
Table 14.—Foreign Direct Investments in the United States, Selected Data for 1966, 1967 and 1968, by Country and Industry
[Millions of dollars]
Earnings,1 income,1 and undistributed profits
Capital flow
Value at yearend
1967
1966
1967
1968 v
Total
New
investments 2
Other
Total
New
investments 2
9,054
9,923
10,815
251
133
118
319
426
C anada
2,439
2,575
2,659
9
19
-10
-26
49
-75
146
United Kingdom _ .
2,864
3,156
3,409
65
21
44
114
109
5
257
Other Europe
Belgium
France
Germany
Italy.
Netherlands
Sweden
Switzerland
O ther countries
3,409
193
215
247
87
1,402
217
949
100
3,848
228
265
318
86
1,508
239
1,096
109
4,341
273
288
387
92
1,750
205
1,238
108
185
18
26
65
-8
12
3
63
6
75
110
18
24
28
-10
12
3
29
6
183
25
10
34
2
141
-74
51
-6
194
-11
25
10
-18
2
3
-74
47
-6
386
23
26
30
8
177
14
102
6
Japan..
103
108
181
-2
-14
12
Latin America.
177
176
164
-1
Other countries
61
59
61
-5
(*)
1,740
1,885
3,789 4,181
739
848
3
2, 072 3 2, 193
4
4
()
()
714
816
2,261
4,475
938
3
2, 305
<«)
836
8
138
67
36
-20
22
(*)
Total
1968 P
1967
1968 '
Other Earnings
-107
804
Income
Undistributed
Earnings
profits
Undistibuted
profits
388
488
152
64
102
271
149
108
416
22
23
43
5
192
12
113
6
159
5
11
7
1
87
7
39
2
263
19
13
35
4
102
4
81
5
440
868
84
80
124
123
163
9
12
14
2
80
7
36
3
229
17
16
16
6
93
7
71
3
8
7
381
Income
By area:
..
2
37
2
(*)
34
18
-20
60
—1
— 12
-5
(*)
(*)
52
138
4
74
-12
(*)
(*)
(*)
(*)
(*)
13
15
26
(*)
(*)
(*)
2
1
1
3
1
2
237
380
70
85
523
9
90
132
28
85
520
26
137
255
42
263
410
81
73
538
3
109
137
25
73
528
16
143
280
57
By industry:
Petroleum. .
Manufacturing.. .
Trade.
"
Insurance
Other finance
Other industries . . .
v
'.
84
21
2
26
8
54
46
36
-22
-4
Preliminary.
*Less than $500,000.
1. "Earnings" represents the foreign share in corporate and branch profits; "income" is the
amount distributed, after withholding taxes, as dividends, interest, and branch profits. See
footnote 2 on table 5 for an explanation of the relation between income, earnings, and undistributed profits.
2. "New investments" consists of the first reported capital inflow to establish or acquire a
231
-23
32
5
47
27
212
81
67
60
6
19
-104
-35
5
-13
21
10
-4
13
-5
new company or operation in the United States and the cost of acquisition of additional shares
of existing companies.
3. Includes market revaluations of securities held by insurance companies.
4. Included in "insurance."
5. Interest paid by agency banks in the United States to foreign home offices have been
excluded from direct investment totals.
36
SUKVEY OF CUERENT BUSINESS
proceeds of their borrowings in U.S.
agency bonds. However, the major
portion of the increase was due to U.S.
corporate bond placements abroad
(table 16).
After World War II, foreigners made
few purchases of U.S. corporate bonds
until 1965 when the need for foreign
funds due to voluntary restraints on
capital outflows for U.S. direct investments abroad induced U.S. corporations to enter the emerging international capital market in Europe—the
Euro-bond market. From midyear 1965
through 1967, U.S. corporations were
able to raise over $1.2 billion by issuing
various debt instruments in this relatively new market. In 1968, when the
Direct Investment Program was tightened and made mandatory (as discussed
in connection with direct investment
abroad), U.S. corporations, in order to
increase direct investments, sharply
increased their foreign bond placements
to an unprecedented $2.1 billion. This
was nearly one-half the $4.7 billion of
all new issues in the Euro-bond market
in 1968.
To hold interest cost down and yet ward also discouraged placements in
compete for available funds, over $1.5 Germany; mark issues dropped to $63
billion of U.S. issues were convertible million in the first quarter of 1969 and
into common stock. Interest costs on zero in the following quarter. Another
such issues were 1 to 2 percent below important factor was the increasing
nonconvertible issues in this market weakness of the U.S. stock market
(see chart 16). The success of the con- which reduced foreign demand for convertible feature can be chiefly attrib- vertible issues. This was particularly
uted to the good performance of the noticeable in the second quarter of
U.S. stock market during the year. 1969 when only $90 million of such
Toward the end of 1968, interest rates issues were placed.
on convertible issues moved up, partly
reflecting the uncertainties in the U.S.
stock market, and new issues of convertible bonds fell off.
At the same time, however, U.S.
15.—Value of Foreign Direct Investcorporations increased placements in Table
ments in the United States by Major
the low cost domestic bond market in
Industry and Country—End of 1968
Germany as authorities encouraged
[Millions of dollars]
capital outflows. In 1968, these borrowManu- Finance Peings amounted to $0.3 billion of which
Total factur- and in- tro- Other
ing
surance leum
about 90 percent occurred after August.
Partly because of the strength of the
All areas... 10,815 4,475
2,305 2,261
1,774
German mark, interest costs there were
Canada
2,659
1,413
376
100
770
345
as much as 1 to 1% percent less than United Kingdom- 3,409 1,076 1,239 749
4,341
1,865
616 1,397
463
rates on nonconvertible dollar issues Other Europe
1,750
Netherlands
426
54 1,215
55
Switzerland
1,238
863
331
44
in the Euro-bond market. Placements
Other Coun576
tries
231
182
1,353
364
by U.S. corporations were also some121
406
74
15
196
what higher in Switzerland (where Other areas
interest rates were low) as the Swiss
authorities somewhat relaxed their
restrictions on foreign issues.
Because of certain tax considerations,
U.S. corporations also established Table 16.—-Foreign Security Placements by
Netherland Antilles financial subsidiU.S.-Incorporated Companies, by Type
[Millions of dollars]
aries during the year to raise money in
the Euro-bond market. Such securities
Straight debt:
Convertible:
usually have the guarantee of the
Payable in—
Payable in—
Total i
parent and are often convertible into
British
DeutSwiss
DolDeutDolthe stock of the U.S. company. These
sterlars sche francs lars sche
marks ling
marks
issues are considered net purchases of
U.S. obligations only to the extent that 1965.— 67
197
75
55
20
20
the finance subsidiaries transfer the Ill
177
75
IV
55
47
proceeds to the U.S. parent company. 1966
190
599
10 182
161
56
I
185
10 120
55
In the first half of 1969, U.S. cor- II
293
180
62
51
35
10
25
III
porate Euro-bond issues declined, aver- IV
86
10
31
45
aging $280 million a quarter compared 1967— . 225
450
177
33
15
I
91
20
11
60
to $550 million a quarter in 1968. II
111
11
10
75
15
131
11
50
70
III
Several factors explain the decline. IV
117
97
20
Not the least is the high level of un- 1968 278
2,189
94 1,540
277
I
596
12 494
90
utilized proceeds from earlier issues II
601
41 526
15
19
605
14 406
75
110
III
and the large leeway in quotas under IV
387
27 114
98
148
the Direct Investment Program. In 1969* 85
44
556
41 323
63
I
407
27 232
63
85
addition, the rates on Euro-bond issues II
44
149
14
91
rose sharply as European capital mar* Six-month total.
kets gradually tightened. Speculation
1. These amounts differ from balance of payments figures
that the mark would be revalued up- which are net of placement costs.
CHART 16
Interest Cost on Bonds Placed Abroad
by U.S. Incorporated Companies Compared
With Average Yields on Corporate Bonds
in the United States
Percent
9
Euro-dollar
Nonconvertible
Moody's Aaa
Euro-dollar Convertible
i i i I i i i I i i i I i i i I i i
1965
66
67
U.S. Department of Commerce, Office of Business Economics
68
69
69-10-16
October 1969
CURRENT BUSINESS STATISTICS
JLHE STATISTICS here update series published in the 1967 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $2.50) provides a description of each series, references to sources of earlier figures, and historical data
as follows: For all series, monthly or quarterly, 1963 through 1966 (1956-66 for major quarterly series), annually, 1939-66; for selected series,
monthly or quarterly, 1947-66 (where available). Series added or significantly revised after the 1967 BUSINESS STATISTICS went to press are indicated
by an asterisk (*) and a dagger (t), respectively; certain revisions for 1966 issued too late for inclusion in the 1967 volume appear in the monthly
SURVEY beginning with the September 1967 issue. Also, unless otherwise noted, revised monthly data for periods not shown herein corresponding
to revised annual data are available upon request.
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.
1966
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
1967 | 1968
III
Annual total
1967
IV
I
II
1969
1968
III
IV
I
II
III
rv
I
|
II
HIP
Seasonally adjusted quarterly totals at annual rates
GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
Gross national product, total t
- -
- - bil. $
749.9
793.5
865.7
755 9
770.7
774.2
783 5
800 4
816 1
835 3
858 7
876 4
892 5
908.7
924.8
942.3
Personal consumption expenditures, total
do
466.3
492.3
536.6
471.2
474.5
480.9
489.8
495.7
502.6
520.6
530.3
544.9
550.7
562.0
572.8
581.6
Durable goods, total 9
Automobiles and parts
Furniture and household equipment
do
do
do
70 8
30.3
29.9
73 o
30.5
31.3
83 3
37.0
34.2
71 3
30.2
30.6
71 9
30.5
30.7
70 0
28.4
30.7
73 5
31.3
31.2
73 3
30.9
31.2
75 2
31.2
32.2
79 5
34.8
33.4
81 8
35.6
33.8
85 8
38.6
35.0
86 3
39.0
34.6
88 4
39.4
35.5
90.6
40.0
36.8
90.3
41.2
35.8
_ do *.
do
do
.do _
206 9
40.3
105 8
16.6
215.1
42.5
108.1
17.7
230.6
46.3
115 0
19.1
209.6
41.1
106 7
16.7
209.1
40.9
105.6
17.0
213 2
41.7
107 8
17.3
214 4
42.6
107 6
17.5
215 8
42.9
108 1
17.9
216 8
42.7
108 9
18. 1
226 1
45.0
112 6
18 9
228 5
45.6
114 8
18 8
233 3
47.4
116 1
19 5
234 3
47.3
116 4
19 5
238.6
48.1
118.4
20.4
242.1
50.0
119.1
21.0
246.4
51.0
120.8
21.8
do
do_ _
do
do
188 6
27.1
67 5
13.6
204.2
29.1
71 8
14.7
222 8
31.2
77 4
16.1
190 2
27.6
67 9
13.6
193.5
27.9
69 0
14.1
197 7
28.2
70 1
14 4
201 8
29.0
71 1
14 5
206 6
29.3
72 3
14 8
210 6
30 1
73 7
15 0
215 1
30.5
75 2
15 5
220 0
30 7
76 7
15 9
225 8
31.6
77 9
16 3
230 1
31.9
79 8
16 5
235.0
32.7
81.3
17.1
240.1
33.1
82.8
17.3
244.9
33.9
84 5
17.7
do
121.4
116.0
126.3
119.6
126.2
113.6
109.4
117.7
123.3
119.4
126.6
125.2
133.9
135.2
137.4
140.9
do
_ .do
do
do
__ do
do
do
_ .do
106 6
81.6
28 5
63.1
25.0
24 5
14.8
15.0
108 6
83.7
27 9
55.7
25.0
24 4
7.4
6.8
119 0
88 8
29 3
59.5
30.2
29 6
7.3
7.4
107 7
83 0
29 0
54.0
24.7
24 2
11.9
12.4
106 3
84.2
28 2
56.0
22.1
21 5
19.9
20.4
104 7
83.3
29 0
54.2
21.4
20 9
9.0
9.1
106 1
83 0
27 2
55.8
23 1
22 5
3.4
30
109 9
83.5
27 8
55.7
26.5
25 9
7.8
7.0
113 8
85 0
27 8
57.2
28 8
28 3
9.5
80
117 7
89 1
29 8
59.4
28.6
28 0
1.6
1.3
116 7
86 4
28 3
58.1
30 3
29 7
9.9
10 3
118 0
88 1
29 0
59.1
29 9
29 4
7.2
7.5
123 4
91 5
30 1
61.4
31.9
31 4
10.5
10.7
128.6
95.3
32 3
63.0
33.3
32 8
6.6
6.6
130.5
97.8
32.1
65.7
32.7
32.2
6.9
6.7
131 6
100.5
34 0
66.5
31. 1
30 6
9.4
8.9
do
do
do
5.3
43 4
38 1
5.2
46 2
41.0
2.5
50 6
48 1
4.4
43 7
39 3
4.9
44 8
39.9
5.4
45 8
40 4
5.8
45 9
40 1
5.6
46 3
40 7
3.8
46 7
42 8
1.9
47 7
45 9
3.4
50 7
47 3
3.6
53 4
49 7
1.2
50 6
49 4
1.5
47 6
46.1
1.6
57.1
55.5
2.0
57 6
55 5
Govt. purchases of goods and services, total. .do
Federal
_ ... do
National defense
do
State and local
do
156.8
77.8
60 7
79 0
180.1
90.7
72 4
89.3
200.3
99.5
78 0
100 7
160.7
80.5
63 3
80 1
165.2
82.1
65 6
83 0
174.2
$7.8
69 9
86 4
178.5
90 3
71 9
88 1
181.3
91.3
73 0
90 0
186.4
93 5
74 6
92 9
193.4
96 3
76 1
97 1
198.4
99 0
77 9
99 4
202.5
100 9
78 8
101 7
206.7
101.9
79 3
104 8
210.0
101.6
79 0
108.5
212.9
100.6
78.5
112.3
217.8
103 3
80 6
114 5
By major type of product: f
Final sales, total
Goods, total.
Durable goods
Nondurable goods
Services
Structures _
do
do
do
do
_ _ do
do
735 1
368 5
146 2
222 3
289 1
77 5
786 2
391 0
157 0
234 1
316.7
78 4
858 4
423 7
171 4
252 3
347 5
87 1
744 0
373 4
148 1
225 3
293.2
77 4
750 8
377 2
151 8
225 4
298.4
75 3
765 2
382 5
151 9
230 7
306.4
76 3
780 2
392 5
158 3
234 2
312 0
75 6
792 6
393 3
157.7
235 5
320.1
79 3
806 6
395 8
160 0
235 9
328 4
82 4
833 6
412 8
166 4
246 5
335.0
85 8
848 8
419 3
168 9
250 4
343 4
86 0
869 2
429 9
173 7
256 1
353 2
86 1
882 0
433 0
176 6
256 4
358 5
90 6
902.1
441.3
181.6
259.7
365.8
94.9
917.9
449 6
185.5
264 1
373.4
94 8
933 0
do
do
do
14.8
10 5
4 3
7.4
39
3.5
7.3
53
20
11.9
10 2
17
19.9
13 2
67
9.0
4 2
4.7
3.4
15
18
7.8
44
3.4
9.5
56
39
1.6
19
—.3
9.9
68
31
7.2
51
21
10.5
74
31
6,6
48
1.8
6.9
4 9
2.1
9.4
730.4
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
_
Nonresident ial
Structures
Producers' durable equipment
Residential structures
N onfarm
Change in business inventories
Nonfarm
Net exports of goods and services
Exports
Imports.. .
...
_
_ _ _
Change in business inventories
Durable goods
Nondurable goods.
GNP in constant (1958) dollars
Gross national product, total t
-
Personal consumption expenditures, total
Durable goods
Nondurable goods
Services _
_
Gross private domestic investment, total
bil. $._
658.1
674.6
707.6
660.2
668.1
666.5
670.5
678.0
683.5
693.3
705.8
712.8
718.5
723.1
726.7
do
418.1
430.3
452.6
421.3
420.7
424.4
430.5
431.9
434.3
445.6
449.0
458.2
457.6
462.9
466.2
do
do
do
71 7
187 0
159 4
72 8
190 3
167 2
80 7
196 9
175 0
72 3
188 7
160 2
72 3
187 0
161 5
70 3
190 2
163 9
73 9
190 6
166 1
73 0
190.3
168 6
73 9
190 2
170 3
77 7
196 0
171 8
79 5
195 8
173 7
83 0
198 7
176 5
82 7
197 2
177 7
84.3
199.3
179 3
85.9
199.3
181 0
do
109 3
100.8
105 7
107.1
112.5
100.5
95 7
101.6
105.4
101.2
106.6
104.1
110.9
109.9
110.8
Fixed investment
NonresidentiaL.
Residential structures...
Change in business inventories
_ do
do
do
do
95 4
74 1
21 3
13.9
93 9
73 6
20 3
6.9
99 1
75 8
23 3
66
96 0
75 0
20 9
11 1
94 0
75 4
18 6
18.5
92 0
74 1
17 9
85
92 6
73 5
19 0
31
94.3
73 1
21 2
7.4
96 7
73 8
23 0
8.7
99 8
77 1
22 7
1.5
97 6
74 0
23 5
90
97 7
75 o
22 7
6.4
101 4
77 3
24 1
9.6
104.0
79 4
24.6
5.9
104 g
81 0
23 8
6 0
Net exports of goods and services
do
4.2
3.6
.9
3.2
3.3
4.0
4.2
4.1
2.0
.9
1.3
1.7
-.2
-.3
—.5
Govt. purchases of goods and services, total, .do
126.5
140.0
148.4
128.7
131.6
Federal
do
65.4
74 8
68 6
78 9
67 3
State and local
_
do
65.2
61.4
69.5
61.1
63.0
r
Revised.
* Preliminary.
t Revised series. Estimates of national income and product
and personal income have been revised back to 1965 (see p. 13 ff. of the July 1969 SURVEY);
140.4
141.7
145.6
148.9
148.8
150.2
137.6
150.6
140.1
150.2
75 7
77 3
79.6
72 8
79 2
79 4
78.3
75 1
75.5
76 3
64.9
68.3
69.3
64.8
65.0
66.0
69.6
70.8
72.3
73.9
revisions prior to May 1968 for personal income appear on p. 26 ff. of the July 1969 SURVEY.
9 Includes data not shown separately.
s-l
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
1967
196S
Annual total
1966
IV
October 1969
1968
1967
I
II
III
IV
I
II
1969
III
IV
I
II
III*
IV
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
637.3
639.3
646.2
513.6
449.7
456.2
461.1
470.7
481.7
495.1
465.0
369.0
18.0
78.0
48.6
407.4
326.2
413.2
417.7
426.5
339.6
436.5
346.3
448.2
355.9
15.9
68.8
43.4
16.1
70.8
44.2
17.0
73.2
45.1
17.3
75.0
47.0
60.8
46.5
14.3
20.6
61.7
47.1
14.7
20.8
62.6
47.8
14.8
20.9
62.3
47.5
14.9
21.0
83.7
78.3
78.3
79.1
10.1
73.6
42.9
18.7
24.2
10.2
68.1
39.2
18.2
21.0
10.3
68.0
38.8
17.9
20.8
10.5
68.6
38.3
18.0
20.4
11.6
20.4
11.9
18.9
10.9
18.0
10.7
18.5
80.3
33.0
47.3
21.5
25.9
—1.1
24.7
91.1
41.3
49.8
23.1
26.7
-3.2
28.0
83.2
33.9
49.3
20.2
29.1
.5
22.8
78.4
32.3
46.1
21.1
24.9
-.1
23.5
587.2
75.4
511.9
479.3
32.5
629.4
82.9
546.5
506.2
40.4
687.9
97.9
590.0
551. 6
38.4
605.0
615.2
80.8
525.6
487.8
37.7
40.0
bil. $
_ do_
do
do
60.63
26.99
13.99
13.00
61.66
26.69
13.70
13.00
64.08
26.44
13.51
12.93
17.00
7.75
4.07
3.68
do
do_
do
do
do
do
1.47
1.98
3.44
8.41
5.62
12.74
1.42
1.53
3.88
9.88
5.91
12.34
1.42
1.34
4.31
11.54
6.36
12.67
620.6
654.0
435.5
467.4
394.5
316.8
14.6
63.1
41.0
423.5
337.3
16.2
70.0
43.9
15.5
65.7
42.3
15.8
67.2
43.0
61.3
45.2
16.1
20.0
61.9
47.2
14.7
20.8
63.8
49.2
14.6
21.2
60.8
45.8
15.0
20.3
82.4
79.2
87.9
9.7
72.7
42.6
18.6
24.0
10.5
68.8
39.0
18.1
20.9
11.5
76.4
44.4
19.9
24.5
11.9
18.2
10.8
19.0
84.2
34.3
49.9
20.8
29.1
-1.8
21.4
bil $
do
do
do
do
Unadjusted quarterly or annual totals:
All industries
.
.
Manufacturing
Durable goods industries^
Nondurable goods industriesl
Mining _
Railroad
Transportation, other than rail
Public utilities _
Communication
•
Commercial and other
National income, totalf
-
- bil. $_
Compensation of employees, total
__do
Wages and salaries total
Private
Military
_
Government civilian
Supplements to wages and salaries
Proprietors' income, total 9
Business and professional 9
Farm
_ _
Rental income of persons
do
do
do_ .
do
do
do
do
_ do
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
Corporate profits tax liability
Corporate profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment
Net interest
do
do
do
do
do
do .
do
714.4
330.2
658.5
724.1
737.3
751.3
765.7
507.0
519.8
532.3
546.0
558.2
571.7
459.0
364.5
470.7
372.7
482.1
382.8
504.3
402.0
17.6
76.8
48.0
18.7
79.3
49.1
493.3
392.5
18.4
84.0
53.8
516.6
410.0
20.1
86.6
55.0
63.2
48.4
14.8
21.1
63.6
49.2
14.3
21.2
64.1
49.3
14.8
21.2
64.1
49.7
14.4
21.4
64.6
49.7
14.9
21.5
66.5
50.1
16.4
21.6
67.3
50.5
16.8
21.7
81.1
82.5
88.2
90.6
90.3
89.5
89.2
10.8
70.3
39.5
18.3
21.2
11.0
71.6
41.1
19.1
22.0
11.2
76.9
44.9
19.8
25.1
12.1
78.5
45.4
20.4
25.0
11.9
78.5
46.2
20.4
25.8
12.3
77.2
45.1
20.3
24.7
12.7
76.5
44.9
21.0
23.9
10.8
19.5
10.9
19.9
11.3
19.1
11.5
20.6
12.0
21.0
11.6
20.7
11.8
20.3
11.7
19.9
79.1
32.6
46.4
21.7
24.8
—.7
24.3
79.5
32.5
47.0
22.0
25.0
-.4
25.1
84.4
34.5
49.9
21.1
28.8
-3.3
25.9
87.9
39.9
47.9
22.2
25.7
-5.3
26.7
90.7
41.1
49.7
22.9
26.7
-2.6
27.5
91.5
41.4
50.0
23.6
26.5
-.9
28.4
94.5
42.9
51.6
23.8
27.8
-4.2
29.3
95.5
43.4
52.2
23.8
28.4
-6.1
29.8
95.4
43.6
51.8
24.3
27.5
-6.2
30.3
-3.6
30.9
622.2
634.5
645.9
664.3
696.1
102.6
711.2
107.0
740.5
756.2
559.8
680.1
92.7
724.4
550.3
509.7
622.0
588.8
638.8
597.7
333.0
672.0
688.8
707.4
18.3
80.9
50.2
18.2
82.5
52.7
24.9
DISPOSITION OP PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income total
Less: Personal tax and nontax payments
Equals' Disposable personal income
Less* Personal outlays©
Equals: Personal saving§
79.4
534.4
494.5
80.6
541.6
503.9
84.1
86.1
89.3
575.0
587.4
593.4
560.2
604.3
566.2
33.2
38.0
114.2
610.2
577.7
118.5
117.4
33.3
41.1
37.7
40.7
516.6
43.1
13.59
6.10
3.08
3.02
15.61
6.81
3.46
3.34
15.40
6.48
3.33
3.15
17.05
7.30
3.82
3.48
14.25
5.79
2.96
2.82
15.86
6.50
3.22
3.28
16.02
6.63
3.37
3.25
17.95
7.52
3.95
3.57
15.21
6.21
3.26
2.95
17.73
7.35
3.83
3.52
.38
.55
.86
2.36
1.58
3.52
.32
.41
.70
1.84
1.35
2.87
.34
.41
1.12
2.46
1.49
2.99
.37
.35
.98
2.66
1.46
3.09
.39
.36
1.07
2.92
1.62
3.39
.36
.37
.98
2.33
1.48
2.93
.36
.36
1.04
2.97
1.51
3.11
.34
.30
1.12
2.96
1.50
3.18
.35
.30
1.18
3.28
1.86
3.46
.36
.32
1.06
2.66
1.68
2.91
.41
.35
1.14
3.38
1.86
3.23
27.85
61.50
60.90
62.70
26.00
64.75
26.35
62.60
25.80
63.20
26.65
65.90
26.85
68.90
28.20
70.20
29.30
535.1
39.9
545.1
42.3
32.5
NEW PLANT AND EQUIPMENT
EXPENDITURES
.
Seas. adj. qtrly. totals at annual rates:
All industries
Manufacturing
Durable goods industriesl
do
do
do
62.80
27.75
Mining _
Railroad
Transportation, other than rail
Public utilities
Communication
Commercial and other
do
do_
do
do
do
do
_
61.65
27.00
14.20
13.70
13.75
13.25
26.15
13.50
12.65
1.45
2.35
3.50
8.50
5.95
13.30
1.40
1.80
3.05
9.20
5.75
12.55
1.30
1.55
3.90
9.70
5.80
12.25
11, 196
11,461
7,688
11,484
7,723
333
1,612
1,828
335
1,580
1,846
14.50
13.25
13.90
12.95
15.00
13.20
1.35
1.20
4.60
10.90
6.15
12.35
1.35
1.15
4.80
12.00
6.95
12.75
1.55
1.35
4.80
13.05
7.25
12.75
1.65
1.35
4.00
13.20
7.40
13.30
13,344
8,879
12,653
8,383
11,913
7,469
14,184
9,588
12.80
13.00
13.65
13.05
1.55
1.65
4.35
11.60
6.35
12.85
1.40
1.40
3.65
11.65
5.90
12.80
11,934
12,668
8,395
13.50
12.55
13.65
12.70
1.45
1.40
4.10
9.80
6.05
11.95
1.50
1.40
4.45
10.65
6.05
12.65
11,577
7,669
11,667
15.35
13.95
118.16 2 19. 76
7.56
3.91
3.64
8.57
4.43
4.14
.41
.40
1.12
3.35
.38
.40
1.20
3.34
35.31
35.88
i 72. 25 2 72. 10
30.45
30.55
15.80
14.60
15.50
15.05
1.60
1.70
4.65
12.70
1.45
1.50
4.85
12.20
321.20 3 21. 55
U.S. BALANCE OF INTERNATIONAL
PAYMENTSc?
Quarterly Data Are Seasonally Adjusted
(Credits +; debits -)
Exports of goods and services (excl. transfers under
military grants)
mil $
Merchandise adjusted excl military
do
Transfers under military sales contracts
do
Income on U.S. investments abroad
___do
Other services
do
43, 361
29,389
829
6,252
6,891
46, 189
30,681
1,239
6,872
7,397
50,599
33,598
1,428
7,701
7,872
7,564
210
1,640
1,782
-38,082 -41,012 -48,077 -9,973 -10,100
Imports of goods and services
do
-25,463 -26,821 -32,972 -6, 676 -6, 660
Merchandise adjusted excl military
do
-3,764 -4, 378 -4, 530
-987 -1,085
Military expenditures
do
-591
-2, 142 -2, 362 -2,932
-584
Income on foreign investments in the U.S__do
-6, 713 -7, 451 -7,643 -1,719 -1,771
Other services
do
Unilateral transfers, net (excl. military grants);
-640
-691
transfers to foreigners (— )
mil. $_ _ -2,833 -2,998 -2,865
T
Revised.
* Preliminary.
»2 Estimates for July-Sept. 1969 based on anticipat<jd capital expenditiires of biisiness.
Estimates for Oct.-Dec. 1969 based on anticipated capital 63Ependiturcjsofbusi ness. AntJcipated expenditures for the year 1969 are as follows (inbil.$): All indus tries, 70.i35; manu facturing, total, 29.68; durable goods industries, 15.43; nondurable goods indiistries, 1*1.25; mini ng,
5m1.56; railroad, 1.47; transportation, 4.52; public uti ities, 12.7 4; commtmication , 7.55; C(
mercial and other, 13.33.
3 includes communicati DH.
tSee corresponding note on p. 8-1.
9 Includes i nventory valuation adjustm ent.
239
1,801
1,868
7,601
332
1,879
1,855
7,941
305
1,771
1,917
353
1,973
1,947
406
2,040
2,019
364
1,917
1,989
418
2,120
1,906
2,135
2,130
-10,033 -10,173 -10,706 -11,463 -11,827 -12,435 -12,352 -11,550 -13,90
-6, 465 -6,542 -7,154 -7,817 -8, 131 -8,566 -8,458 -7,572 -9,59
-1,075 -1,106 -1, 112 -1,102 -1,116 -1,143 -1, 169 -1,204 -1,21
-591
-580
-607
-671
-742
-770
-749
-1,902 -1,945 -1,833 -1,873 -1,838 -1,956 -1,976
-892
-1,882
-1,07
-2,01
-601 *-765
-774
-635
-766
-648
-690
-836
-823
©P ersonal c utlays comprise personal consum ption ex]Denditunjs, interest paid by coosumei s, and p<irsonal ti•ansfer pelyments to foreigclers.
§Pe rsonal sa ving is 63tcessof d isposable income over pers onal out ays.
1fD£ ita for in dividual durable and non durable goods inclustries csomponeiits appear in the
Mar., June, Se pt., and Dec. issu es
of the SURVEY.
r
d"M ore comi:)lete deta Us are giv en in the quarterl y review 5 in the ftlar., Jime, Sept., and Dec.
JBVEY.
I
r. of the JFune 1969 issue.
issues of the Si
Revised <3Lata back: to 1960appear on p . 29 fl
SURVEY OF CUERENT BUSINESS
October 1969
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1966
1967
1968
Annual total
1966
IV
S-3
1967
I
II
1968
III
IV
I
1969
III
II
IV
I
III
II
IV
GENERAL BUSINESS INDICATORS— Quarterly Series— Continued
U.S. BALANCE OF INTERNATIONAL
PAYMENTS §— Con.
Quarterly Data Are Seasonally Adjusted
Transactions in U.S. private assets, net; increase
(— )
mil $
Transactions in U.S. Govt. assets, excl. official
reserve assets' increase ( — )
mil $
Transactions in U.S. official reserve assets, net;
increase (— )
mil $
Transactions in foreign assets in the U.S., net (U.S.
liabilities); increase (+)
mil $
Liquid assets
do
Other assets
_
do
Errors and omissions net
do
Balance on liquidity basis—increase in U.S. official
reserve assets and decrease in liquid liabilities to
all foreigners; decrease ( — )
mil $
Balance on official reserve transactions basis—increase in U.S. official reserve assets and decrease in
liquid and certain nonliquid liabilities to foreign
official agencies' decrease ( — )
mil $
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
-4, 311
-5,654 -5,158 -1,192 -1,068 -1,014 -1,775 -1,797
-806
-1,535
-2,419 -2,250
-738
568
52
3,323
789
2,534
-490
6,853
3,492
3,361
-1,007
9,277
712
8,565
-641
-1,357
-3, 544
168
266
-3,418
1,638
1967
-880
-379
-654
-542
-546
-677
-6
1,027
-419
-375
-181
1,104
313
791
-110
335
-532
867
-308
1,970
749
1,221
-624
2,198
1,406
792
-69
2,350
1,869
481
-6
-307
-495
-330
239 -1,711
1968
Annual
-719
-1,031 -1,688
-71
-917
904
1,215
-340
1,555
-410
-1,537 -1,868
Sept.
Oct.
-1,345 »- 1,971
-463
p-624
-527
-346
-137
-571
-1,076
-48 *-299
2,645
128
2,517
-480
2,515
710
1,805
309
2,902
214
2,688
-60
3,334 *4,213
1,701 *4,010
P203
1,633
-1,239 "-838
862
-1,653 "-3, 711
367
1,143 9 1,243
-564
9
-379
1,553
-139
97
1969
1968
Aug.
-947
-639
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
Aug.
July
Sept. v
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME, BY SOURCE t
Seasonally adjusted, at annual rates: t
Total personal income
Service industries
Government
Other labor income
Proprietors' income:
Business and professional
Farm
687 9
696 1
701 1
706 2
711 5
716 0
718 7
723 9
730 7
735 3
740 0
746.1
751.4 ' 757. 5
465.0
181.5
145.9
109.2
470.3
182.7
147.1
110 8
474.5
184.6
148.6
111.8
478.2
186.2
149.6
112 5
482.2
187.5
150.5
113 5
485.8
189.6
151.8
113 3
489.3
190.1
152.4
114.6
492.6
190.6
152.5
115 6
497.9
193.8
154.9
116 4
500.8
195.2
155.8
117.2
503.8
196.2
156.3
118.3
508.5
198.3
157.8
119.5
512.8
198.9
158.5
120.1
'517.9
' 201. 0
'160.5
' 121. 4
519.1
201.1
160.6
121.4
do
do
do
70 5
86 2
22 1
78 3
96 0
24 2
78 8
98 0
24 5
79 6
98 4
24 7
80 8
98 7
24 8
82 0
99 1
25 o
83 0
99 9
25 1
84 5
100 1
25 3
85 6
100 8
25 5
86 3
101 4
25 6
86 4
101 9
25 8
87.0
102 3
25 9
87.8
102.9
26.1
88.0 ' 88.8
105.9 ' 106.8
26.3
26.4
89.5
107.2
26.6
do
do
47.2
14 7
49.2
14 6
49.2
15 0
49.5
14 7
49 5
14 5
49 7
14 3
49 8
14 4
49.5
14 5
49 8
14 9
49.7
15 3
49.8
15 8
50.1
16 4
50.4
16.9
50.5
16.8
50.5
16.8
50.5
16.8
20.8
21.5
48.3
52 0
21.2
23.1
54.1
59 2
21.3
23 6
54.8
60 4
21.3
23 7
55.4
60 3
21.3
23 9
56 0
61 2
21.4
24 0
56 7
61 5
21.4
23 6
57.3
62 1
21.4
23 6
57.4
63 0
21.5
23 8
57.6
63 5
21.5
24 1
57.9
64 3
21.5
24 2
58.3
64 7
21.6
24.3
58.8
64 9
21.6
24.5
59.2
65.2
21.7
24.6
59.5
65.7
21.7
24.8
59.8
66 1
21.7
25.1
60.2
66 3
26.4
Rental income of persons
do
Dividends
__
do
Personal interest income
do
Transfer payments
do
Less personal contributions for social insurance
bil. $__
Total nonagricultural income
759.8
629 4
423.5
166.5
134.2
100.3
bil $
Wage and salary disbursements, total
do
Commodity-producing industries, total.do
Manufacturing
do
Distributive industries
do
do
20.6
22.6
22.9
23.0
23.2
23.2
23.4
25.3
25.3
25.6
25.7
25.8
26.1
26.6
26.6
609.7
667.9
675.5
680.9
686.1
691.5
695.9
698.5
703.1
709.5
713.5
717.7
723.4
728.8 '734.9
737.2
45, 772
47,848
4,779
5,507
5,714
4,920
4,280
3,888
3,146
3,345
3,262
3,356
3,457
4,252
5,320
42, 693
18, 401
24, 292
5,743
14, 534
3,645
44,386
18 847
25,539
5 962
15 406
3,827
3,682
1 521
2,161
487
1,312
344
4,348
2,025
2,323
478
1,453
375
5,318
2 767
2,551
495
1,652
385
4,883
2 712
2 171
479
1 316
360
4,247
2 154
2 093
501
1 212
352
3,830
1 624
2,206
514
1 309
343
3,019
1 000
2 019
462
1 219
297
3,122
943
2 179
518
1 295
332
3,111
872
2,238
524
1,356
318
3,320
887
2 433
552
1 523
318
3,447
1 132
2,315
533
1,440
315
3,837
1,455
2,383
518
1,453
392
3,988
1 577
2 410
499
1 515
378
4,561
2 035
2 526
492
1 636
381
132
133
131
137
136
138
136
132
140
161
175
151
197
240
165
181
235
141
157
187
136
142
141
143
112
87
131
116
82
141
115
76
145
123
77
158
128
98
150
142
126
154
148
137
156
169
176
164
123
124
123
126
130
124
128
132
125
147
168
132
186
234
150
170
229
126
150
191
119
133
147
122
97
80
111
97
68
118
94
57
121
98
58
127
107
90
119
125
130
122
127
132
124
145
165
131
' 176. 7
FARM INCOME AND MARKETINGS t
Cash receipts from farming, including Government
payments, total %..
_
mil. $
Farm marketings and CCC loans, total
do
Crops
do
Livestock and products, total 9
do
Dairy products
do
Meat animals .
do
Poultry and eggs_
do
Indexes of cash receipts from marketings and CCC
loans, unadjusted: %
All commodities
1957-59=100..
Crops
do
Livestock and products
do
[ndexes of volume of farm marketings, unadjusted: J
All commodities
1957-59=100..
Crops _ _.
do
Livestock and products
do
INDUSTRIAL PRODUCTION rf
Federal Reserve Index of Quantity Output
CJnadj., total index (incl. utilities) cf-. 1957-59 =100..
By industry groupings:
Manufacturing, total
do
Durable manufactures
do
Nondurable manufactures
do
Mining
do
Utilities
...
do
158.1
165.3
163.3
169.5
170.7
169.1
166.3
166.5
170.5
173.1
171.9
172.4
6
' 174. 6
178.3
159.7
163.7
154.6
123.8
184.9
166.8
169.8
163.0
126.4
202.1
163.0
160.5
166.3
130.7
170.7
170.6
170.8
128.6
173.4
173.5
173.3
122.8
171.4
174.2
168.0
126.8
167.5
172.6
161.2
126.3
167.0
171.4
161.4
124.1
172 1
175.3
168.0
124.2
175.1
178.6
170.8
125.4
173.7
177.7
168.6
130.2
174 4 ' 178. 5 ' 167. 2
178.3 '182.2 r 169. 8
169.5 '173. 9 r 164.0
127. 2
132.9
134.6
' 174. 8
' 173. 8
' 176. 0
r 133 o
179 6
180.9
177.9
132 1
158.3
148.5
159.0
145.1
179.4
164.9
156.6
175.0
150.8
182.6
162.0
154.2
141.5
158.3
178.6
171.9
165.9
178.5
161.9
184.6
172.6
167.5
192.7
159.5
183.6
169.2
161.7
191.2
152.3
185.4
165.6
155 8
181.5
147.6
186.6
166.6
158.9
183.9
150.9
183.1
169.3
161 8
186.0
154.1
185.4
171.9
163 9
189.1
156.0
189.0
168.6
159 0
183.0
151 4
189.1
Materials
_
do
157 8
164 5
169 0
165.7
167 5
Durable goods materials
do
151.9
157.8
153.1 157.4
158.9
Nondurable materials
do
163.9
173.7
176.3
179.3
177.9
' Revised.
* Preliminary.
§ See note marked "c?" on p. S-2.
t See corresponding
note on p. S-l. t Series revised beginning 1960 (Alaska and Hawaii are included in dollar
figures beginning 1960 and in the indexes from 1966 only); available monthly data prior to
May 1968 may be obtained from the U.S. Dept. of Agriculture, Economic Research Service.
169 5
159.6
179.6
166 9
158.2
176.0
166 4
157.0
176.2
171 5
162.8
180.6
174 3
165.9
182.8
174 8
166.4
183.4
168.4 ' 174. 0 '166.4 ' 173. 1
156 4 r 165 7
158 2 r 165 5
182.1 r 191.1 ' 155. 7 ' 163. 0
150.5
157 3 r 156 6
190.4
192 4
187 9 r Igg 9
176 1 r 179 9 r 168 6 ' 175 9
167.4 r 171. 6 ' 160. 5 ' 165. 9
185.0 r 187. 0 ' 177. 0 r I8fi. 3
By market groupings:
Final products, total
Consumer goods. . .
Automotive and home goods
Apparel and staples
...
E quipment, including defense
do
do
do
do
_ _ do
r 167.
178.6
170 A
187
192 g
m
170
o
ISfi
cf Revisions for 1966 appear on p. 20 of the Nov. 1967 SURVEY; those for Jan.-Aug. 1967 will
be shown later.
9 Includes data for items not shown separately.
SURVEY OF CUKRENT BUSINESS
S-4
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
1968
Annual
October 1969
Aug.
Sept.
Oct.
1969
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.'
174.3
173.8
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PROD UCTIONd*— Continued
Federal Reserve Index of Quantity Output— Con.
Seas, adj., total index (inch utilities) cf. 1957-59 =100.
By industry groupings:
Manufacturing, total
.
do
158.1
165.3
164.6
165.1
166.0
167.5
168.7
169.1
170.1
171.4
171.7
172.5 ' 173. 7 174.6
159.7
166.8
165.7
166.4
167.8
169.1
170.2
170.2
171.8
173.1
173.0
173.8 ' 174. 8 ' 175. 7 ' 175. 6 175.0
Durable manufactures 9 ...
_
Primary metals
Iron and steel
Nonferrous metals and products
Fabricated metal products
Structural metal parts
.
do
do
do
do
do
do
163.7
132.5
126.8
153.2
161.9
158.1
169.8
137.1
130.8
159.9
167.9
162.2
167.8
122.8
112.9
153.9
166.3
159.1
168.7
120.6
107.3
166.2
167.6
161.1
169.3
123.1
108.1
174.0
172.2
165.1
171.3
129.3
115.8
173.8
173.5
168.3
172.4
135.4
124.6
180.7
175.6
170.3
173.0
139.5
126.8
179.6
176.4
170.1
174.5
143.6
133.7
183.4
177.6
174.5
175.9
146.2
139.0
186.9
178.5
175.8
175.7
147.9
141.2
186.2
178.3
174.4
176.7
149.3
141.6
184.3
179.2
173.1
Machinery
Nonelectrical machinery
_
Electrical machinery
Transportation equipment 9
Motor vehicles and parts... .
Aircraft and other equipment
do
do
do
do
do
do
183.4
183.4
183.3
165.7
146.5
182.1
184.3
181.0
188.5
179.5
171.4
185.0
183.8
179.1
190.1
181.7
175.4
185.7
186.4
182.6
191.4
180.5
173.5
184.7
186.1
183.7
189.3
180.4
177.0
181.0
187.4
184.4
191.4
180.2
177.7
179.6
188.6
185.3
193.0
176.4
172.3
177.0
191.8
188.3
196.4
171.2
167.3
170.9
192.7
189.6
196.9
173.1
167.7
174.1
194.7
190.2
200.7
174.1
167.6
176.0
Instruments and related products
Clay, glass, and stone products
Lumber and products
Furniture and
fixtures
Miscellaneous manufactures
do
do
do
do
do
184.8
138.7
116.9
167.7
157.3
184.2
146.2
122.1
178.3
161.4
182.6
147.5
114.7
178.6
161.4
184.3
150.0
119.4
179.7
162.0
185.8
151.8
119.4
180.4
162.1
188.5
150.4
126.1
181.7
162.5
189.7
151.2
132.3
182.9
165.3
191.6
156.2
122.5
186.8
166.2
190.4
156.5
126.7
186.5
164.7
192.8
153.4
130.8
187.0
165.7
194.6
190.8
199.5
172.4
160.8
178.7
195.4
155.1
122.6
188.9
167.6
do
do
do
do
do
154.6
142.0
147.6
106.3
153.6
163.0
151.3
149.9
111.3
163.8
163.0
151.4
149.0
109.5
164.1
163.6
152.0
149.9
109.3
166.1
165.9
153.3
152.1
113.0
166.7
166.3
155.1
152.5
111.7
170.1
167.4
153.5
149.2
109.2
169.9
166.7
152.9
148.1
105.0
171.1
168.3
152.0
147.9
101.3
173.9
do
do
do
do
do
146.8
134.2
203.8
236.0
133.4
149.5
136.1
221.6
261.7
139.6
151.1
137.7
221.0
262.7
140.7
150.0
140.9
222.4
263.2
141.9
151.2
138.4
227.8
268.2
142.2
152.3
140.8
228.7
268.0
141.4
152.3
139.5
231.8
275.0
141.2
152.4
141.2
231.3
273.4
131.0
152.1
141.7
234.4
276.7
140.2
169.5
152.9
150.2
105.6
175.0
153.0
141.4
235.2
277.7
142.7
169.6
154.2
147.8
103.4
175.8
152.7
137.5
239.1
283.3
142.2
'178.3
' 153. 1
' 145. 6
190.8
' 180. 6
173.8
'178.8 ' 179. 3
' 152. 6 151.5
' 145. 3 141.0
' 182. 0 179.0
' 179. 0 ' 180. 8
' 170. 8 ' 172. 9
178.5
151
180
172
...do
do
do
do
do
193.5
132.6
130.1
146.0
120.3
220.0
135.8
132.7
152.6
120.9
223.1
135.3
131.5
155.7
123.1
223.4
135.4
131.5
156.0
124.0
225.8
137.3
133.3
158.6
120.8
227.5
136.1
132.8
153.7
119.9
234.6
138.8
134.6
161.6
113.6
230.8
139.4
136.1
157.4
119.5
232.8
140.9
137.2
160.9
121.2
236.2
141.5
136.7
167.2
118.7
234.2
140.5
136.7
160.6
110.5
... do _
do
do
_ do
do
do
123. 8
120.4
123.1
126.3
120.3
135.4
126.4
117.8
126.5
130.5
126.3
137.8
129.4
121.3
129.3
134.8
134.5
137.5
127.0
120.8
126.8
131.2
127.7
136.5
120.7
86.6
125.5
129.1
125.1
132.2
126.4
115.9
126.3
128.6
135.1
135.5
127.4
118.3
125.4
126.4
137.6
147.0
125.8
115.3
123.9
124.0
140.2
143.5
124.8
112.4
121.8
124.0
142.7
149.2
126.7
114.3
123.5
127.0
149.1
150.5
128.3
120.2
126.9
130.2
146.6
141.4
196.9 T 197. 2 ' 198. 1
193.1 195.3 ' 196. 0
201.8 ' 199. 6 ' 200. 8
171.8 176.6
181.5
156.8 169.1 ' 175. 1
180.8 179.5 '183.4
195.3 195.7 r 194. 7
156.9 ' 155. 2 ' 152. 7
120.7 115.5 '113.4
190.2 189.9 ' 185. 0
167.5 168.1 ' 167. 4
170.3 ' 170. 5 r 171. 8
156.5 157.8 ' 157. 0
150.0 ' 149. 2 153.2
107.6 r 104. 7 101.8
174.9 ' 175. 3 ' 176. 4
155.9 156.5 r 158. 3
142.8 141.3 145.6
239.5 ' 239. 7 ' 242. 6
285.2 ' 286. 1 287.2
143.5 145.4 ' 143. 5
237.0 '237.3 239.0
138.6 138.3 ' 138. 9
136.6 136.1 r 135. 1
149.4 149.8 159.1
115.4 121.9 120.3
130.3 r 134. 4 ' 132. 4
123.9 r 124. 8 123.7
129.6 134.8 ' 132. 1
133.1 139.2 ' 135. 5
134.5 137.4 ' 138. 1
141.2 142.6 ' 142. 2
184.9
191.8
163.0
202.1
211.3
202.1
211.5
172.6
204.8
214.7
208.9
219.3
206.9
216.0
210.1
219.9
215.1
226.1
214.9
225.5
215.1
225.7
216.3
226.9
213.6 r 215. 6 r 222. 2 ' 221. 5 218.0
223.1 ' 225. 9 234.2
158.3
148.5
159.0
164.9
156.6
175.0
164.8
156.8
175.6
165.7
157.3
175.8
167.0
159.6
177.6
167.9
159.2
179.5
168.1
160.1
179.1
168.2
161.0
181.0
169.3
161.7
179.6
170.8
162.8
181.8
170.2
161.8
177.9
Automotive products
....do
Autos
_ _
do
Auto parts and allied products... do
Home goods 9
do
Appliances, TV, and radios
do
Furniture and rugs
do
149.1
145.7
153.6
166.0
159.6
159.6
174.3
174.8
173.8
175.4
168.5
173.7
177.1
182.4
170.2
174.6
168.0
174.0
175.6
177.4
173.2
175.9
170.4
175.5
178.9
180.3
177.0
176.7
171.8
174.2
181.2
180.6
182.1
178.3
171.9
177.0
177.8
174.5
182.2
180.0
173.2
180.2
176.2
170.6
183.5
184.3
177.7
184.3
174.7
165.0
187.6
183.0
179.1
181.2
175.4
165.0
189.0
186.3
182.9
182.0
166.1
149.6
187.9
186.1
182.0
183.3
170.0 ' 170. 7
160.7 ' 161. 5
177.6 ' 183. 0
165.8 178.7
148.9 168.3
188.0 ' 192. 3
185.9 186.1
182.0 r 180. 2
183.4 184.0
Apparel and staples
do
Apparel, incl. knit goods and shoes.. do
Consumer staples
do
Processed foods
do
145.1
136.2
147.6
130.0
150.8
139.5
154.0
132.6
150.7
139.8
153.9
132.5
151.5
139.6
154.9
132.5
153.9
142.3
157.1
133.2
152.8
142.0
155.8
132.0
154.1
138.7
158.4
134.7
154.7
140.8
158.6
134.8
156.0
141.4
160.2
136.7
156.8
142.9
160.8
136.4
156.6
140.6
161.2
137.1
155.3 ' 154. 7 157.6
141.5 ' 137. 4 140.9
159.2 r 159. 6 '162.4 ' 162. 2
136.4 136.1 ' 135. 1 135.5
Beverages and tobacco
do
Drugs, soap, and toiletries
do
Newspapers, magazines, books. __ do
Consumer fuel and lighting
do
137.4
182.7
140.1
168.9
141.9
193.4
143.3
182.9
144.7
190.6
143.6
182.6
145.2
193.6
140.7
186.0
145.9
199.8
145.8
188.7
142.3
200.4
146.0
186.1
145.4
201.4
147.1
190.2
144.6
203.7
146.3
190.0
147.5
203.7
145.7
192.0
150.9
205.0
143.3
193.6
143.7
209.9
145.9
194.1
146.0
137.9 140.4
208.0 206.1 '209.7
147.3 146.3 ' 149. 0
189.8 ' 192. 7 201.6
Equipment, including defense 9
do
Business equipment
do
Industrial equipment
do
Commercial equipment
do
Freight and passenger equipment do
Farm equipment
.do
179.4
182.8
170.2
200.9
215.4
158.7
182.6
184.7
168.1
205.2
234.3
146.1
181.9
182.4
164.7
204.6
233.2
145.8
183.6
185.2
167.8
205.9
235.6
152.9
183.0
186.8
170.2
207.3
234.3
155.3
186.5
191.2
174.0
208.7
247.4
152.4
185.3
190.0
174.9
205.3
247.2
134.0
183.5
191.4
175.9
209.9
245.5
136.1
185.5
191.9
175.7
214.3
244.4
133.0
187.8
192.9
176.7
217.3
242.3
135.6
188.4
194.1
178.6
220.1
239.7
133.9
190.0
195.7
180.9
221.7
238.4
134.9
do
do
do
do
do
157.8
151.9
143.9
184.5
139.6
165.7
157.8
164.2
185.1
145.8
164.2
153.3
153.5
185.3
143.3
165.1
153.3
166.1
185.1
145.5
165.7
155.4
166.5
184.7
146.3
167.6
157.6
169.6
187.7
148.3
169.3
159.7
161.0
187.5
152.2
169.6
161.2
162.2
187.4
153.5
170.8
162.6
167.7
189.3
154.2
172.1
164.0
163.2
190.7
154.5
172.9
165.8
157.9
190.3
153.2
174.5 ' 176. 3
165.5 ' 167. 0
156.6 162.7
191.7 193.2
153.0 151.7
' 176. 1 ' 176. 0
' 166. 6 ' 166. 8
' 163. 0 168.4
' 193. 2 194.6
' 148. 8 149.7
.do
do
do
do
163.9
152.9
148.5
155.1
173.7
157.4
156.7
157.7
175.5
158.4
154.2
160.5
177.2
161.1
163.4
160.0
176.4
162.3
167.4
159.8
177.9
161.7
161.5
161.8
179.2
163.2
164.8
162.4
178.3
164.2
167.4
162.6
179.2
164.4
168.1
162.5
180.3
165.3
170.4
162.7
180.3
162.3
165.0
160.9
183.7 ' 185. 9
165.9 ' 166. 3
168.2 167.5
164.7 ' 165. 7
'185.9
' 167. 3
' 165. 5
' 168. 2
185.5
167.5
165.4
168.6
185
144.3
151.5
129.2
132.7
183.3
199.3
note on p. S-3.
154.3
136.6
200.3
153.3
134.1
202.8
149.3
126.0
206.3
159.3 '162.8 '160.8 160.7
151.8 152.3 153.7 156.9
152.5 151.9
131.4 130.0 127.8 127.7 130.2 134.2 137.4 ' 141. 8 ' 138. 5 '137.8
211.5 212.5 211.7 213.7 214.9 ' 216. 1 216.7
205.7 206.7
9 Includes data for items not shown separately.
160
137
Nondurable manufactures
Textile mill products
Apparel products
Leather and products
Paper and products. . _„
Printing and publishing
Newspapers
Chemicals and products
Industrial chemicals
Petroleum products
„
Rubber and plastics products
Foods and beverages
Food manufactures
Beverages
Tobacco products
Mining
__
Coal
Crude oil and natural gas
Crude oil.
Metal mining
Stone and earth minerals
Utilities .
Electric
Gas
.
do
do
do
By market groupings:
Final products, totalcf.. .
Consumer goods
Automotive and home goods
Materialsc?
Durable goods materials 9
Consumer durable
Equipment
Construction
.
Nondurable materials 9
Business supplies
Containers ._
General business supplies
do
_._ do .
do
Business fuel and power 9
..do
Mineralfuels.
.. do
Nonresidential utilities
do
'Revised.
* Preliminary.
cf See corresponding
190.4
197.0
182.7
221.0
240.8
135.2
199.1
' 195. 3
' 204. 1
181.2
' 178. 3
'180.8
' 195. 8
' 156. 0
112.2
' 186. 9
' 166. 6
' 170. 9
152.0
199
195
204
178
172
180
197
158
187
168
170.6
176.0
158.6
145.5
238.1
157
146.8
139.4
135.6
' 131. 9
117.0
' 132. 7
' 135. 8
139.1
142.4
' 172. 7 ' 172. 3
'164.1 ' 163. 7
' 184. 5 184.6
130.8
115
132
135
171.6
163.0
182
' 184. 6 ' 184. 5 179
170
178.7 178.4
192.4
'192.4
184.7
r 184. 4
' 181. 8 180.5
' 180. 0 180.5
' 191. 0
' 197. 2
' 181. 2
' 220. 5
' 252. 6
124.4
162
206.0
147.5
' 190. 8 190.2
' 197. 4
180.3
221.4
252.6
175.9
167
SURVEY OF CURRENT BUSINESS
October 1969
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
Annual
S-5
1969
1968
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS SALES AND INVENTORIES §
Mfg. and trade sales (unadj.), totalcf
mil. $._ U,067,539 11,163,371 96, 310
Mfg. and trade sales (seas, adj.) , totalcf
Manufacturing, totalcf
Durable goods industries
Nondurable goods industries
Retail trade, totalcf _.
_
Durable goods stores
Nondurable goods stores
do
_
_
Merchant wholesalers, total.
Durable goods establishments
Nondurable goods establishments.
1548, 542 1603,718
do
do
299,680 330,951
_ _ d o 248,862 272,767
102,367 103, 419
105,368 107,145 '99,535 103,094
100,137 101, 390 101,510 102, 352
103,232 104,127 '103,717 104, 381
51,494
27, 742
23,752
52,801
29,325
23,476
53, 302
29,914
23,388
53,078
29,530
23,548
53,298
29,643
23,655
53,741
29,573
24,168
54,786 '54,908
30, 136 '30,121
24,650 '24,787
54, 814
30, 346
24, 468
103,200
98,605
103,413 101,513
99,135
99,675
100,142 98, 671
49, 825
26,837
22,988
51,441
27, 985
23,456
52,560
28,960
23,600
52,548
28,786
23,762
11,067,539 11,163,371 97,083
93, 265
95, 674
do
do
do
1313,809 1339,710
100, 173 110,245
213,636 229,465
28, 760
9,377
19, 383
28,902
9,687
19, 215
28, 697
9,342
19, 355
28,806
9,314
19, 492
28,347
9,238
19,109
28,989
9,446
19,543
29,289
9,597
19, 692
28,916
9,377
19,539
29, 442
9,575
19, 867
29,386
9,481
19,905
29,371 ' 29, 090
9,545 ' 9, 141
19, 826 '19,949
29, 411
9,184
20, 227
do
do
__do
i 205,188 1219,943
90,447 100,012
114, 741 119, 930
18,498
8,301
10, 197
18,792
8,554
10,238
18, 418
8,536
9,882
18,788
8,764
10,024
18,830
8,734
10,096
18, 347
8,555
9,792
18, 799
8,938
9,861
19,516
9,071
10,445
19,612
9,132
10, 480
20,105
9,307
10,798
19, 970 '19,719
9,263 ' 9, 114
10, 707 '10,605
20, 156
9,186
10, 970
Mfg. and trade inventories, book value, end of year
or month (unadj.), total cf ©
mil. $ '142,120 '152,072 '148,232 '149,054 '152,088 '153,863 '152,072 '153,246 '155,475 '157,745 '159,365 '160,104 '159,762 '159,719 159, 395
Mfg. and trade inventories, book value, end of year
or month (seas, adj.) , totalcf©
mil. $ '143,694 '153,764 '149,825 '150,652 '152,017 '152,830 '153,764 '154,086 '155,339 '156,401 '157,477 '158,602 '159,264 '160,631 161, 130
Manufacturing, totalcf
Durable goods industries
_ _
Nondurable eoods industries
Retail trade, total 1_
Durable goods stores. __
Nondurable goods stores
Merchant wholesalers, total©
Durable goods establishments
_
Non durable goods establishments.
do
do
do
do
do
do
do
do.
do
Inventory-sales ratios:
Manufacturing and trade, totalcf-
.ratio..
Manufacturing, totalcf
Durable goods industries
Materials and supplies. _
Work in process
.
Finished goods
Nondurable goods industries
Materials and supplies
Work in process
Finished goods
Retail trade, totalcf
Durable goods stores
Nondurable goods stores
Merchant wholesalers, total ©
Durable goods establishments..
Nondurable goods establishments
do
do
do
do
do
do__
do
do
do
do
do
do
do
do
do.
82,819
88,579 86, 713 87,109 87, 566 87,947 88,579 88,905 89, 556 90, 317 91, 018 92,139 92, 215 '93,166
53,540
57,422 56,069 56,458 56,657 56,953 57,422 57,879 58,282 58,978 59, 426 60,222 60,479 '61,441
29,279
31, 157 30,644 30,651 30,909 30,994 31, 157 31,026 31, 274 31,339 31, 592 31,917 31,736 '31,725
39, 318
42, 657 41,010 41,424 42, 220 42,488 42,657 42,740 43, 014 43,004 43, 118 43,025 43,438 43, 874
17,403
19,461 18, 501 18,622 19, 165 19,361 19,461 19, 622 19, 487 19,542 19, 567 19,044 19, 365 19, 358
21, 915
23, 196 22,509 22, 802 23,055 23, 127 23,196 23, 118 23, 527 23,462 23,551 23,981 24, 073 24, 516
' 21, 557 ' 22, 528 '22,102 '22,119 '22,231 '22,395 '22,528 '22,441 '22,769 '23,080 '23,341 '23,438 '23,611 '23,591
12,543
13, 454 13, 166 13,064 13, 218 13,332 13, 454 13, 373 13, 532 13,681 13, 860 13,897 14,004 '14,089
' 9, 014 ' 9, 074 ' 8, 936 ' 9, 055 ' 9, 013 ' 9, 063 ' 9, 074 '9,068 ' 9, 235 ' 9, 399 ' 9, 481 '9,541 ' 9, 607 '9,502
93,649
61, 706
31, 943
44, 161
19, 595
24, 566
23, 320
14, 026
9,294
1.58
1.53
1.54
1.52
1.53
1.53
1.56
1.54
1.53
1.54
1.54
1.54
1.53
1.55
1.54
1.77
2.08
.62
.94
.52
1.40
.55
.21
.64
1.47
2.03
1.21
'1.21
1.61
'9,0
1.70
2.01
.59
.92
.50
1.33
.50
.20
.62
1.44
2.00
1.18
1.20
1.54
'.91
1.74
2.09
.63
.95
.51
1.33
.50
.21
.63
1.43
1.97
1.16
'1.19
1.59
'.88
1.69
2.02
.60
.92
.50
1.31
.49
.20
.62
1.43
1.92
1.19
1.18
1.53
'.88
1.67
1.96
.58
.89
.49
1.31
.49
.20
.62
1.47
2.05
1.19
1.21
1.55
'.91
1.67
1.98
.58
.91
.49
1.30
.48
.20
.62
1.47
2.08
1.19
'1.19
1.52
'.90
1.72
2.07
.60
.95
.52
1.31
.49
.20
.62
1.50
2.11
1.21
1.20
1.54
'.90
1.68
1.97
.57
.91
.50
1.32
.49
.21
.62
1.47
2.08
1.18
'1.22
1.56
'.93
1.68
1.95
.56
.90
.49
1.34
.49
.21
.63
1.47
2.03
1.19
'1.21
1.51
'.94
1.70
2.00
.58
.92
.50
1.33
.49
.21
.63
1.49
2.08
1.20
'1,18
1.51
'.90
1.71
2.00
.57
.93
.51
1.34
.49
.21
.63
1.46
2.04
1.19
1.19
1.52
'.90
1.71
2.04
.58
.94
.52
1.32
.49
.21
.63
1.46
2.01
1.20
1.17
1.49
'.88
1.68
2.01
.57
.93
.51
1.29
.47
.20
.61
1.48
2.03
1.21
' 1.18
1.51
'.90
1.70
2.04
.57
.95
.52
'1.28
'.47
.20
.61
'1.51
'2.12
1.23
1.20
'1.55
'.90
1.71
2.03
.56
.95
.52
1.31
.48
.20
.62
1.50
2.13
1.21
1.16
1.53
.85
12,853
14,944
1,152
1,261
1,275
1,293
1,370
1,356
1,399
1,378
1,396
1,265
1,134
1,204
1,256
1,299
1,452
1,353
1,449
1,430
1,446
1,396
1,435
1,392
••1,378
' 1, 530
1,278
1,403
50, 197
49,452
53,933
55, 254
54, 693
54,406
57,484 ••50,501
53, 476
30,654
1,438
4,893
2,305
3,109
5,559
3,686
7,654
4,281
1,068
30,391
1,450
4,883
2,275
3,031
5,420
3,674
7,652
4,223
1,085
32,317 '27,225
1,532 ' 1, 407
4,991 ' 4, 360
2,312 '2,101
3,318 ' 2, 876
5,918 ' 4, 856
4,076 ' 3, 536
7,954 ' 6, 224
4,615 '3,093
1,217 ' 1, 023
28, 716
1,510
4,501
2,144
3,186
5,069
3,755
6,314
2,956
1,161
24,200
7.825
404
1,830
2,259
4,106
1,930
1,387
24, 039
7,662
414
1,756
2,256
4,254
1,971
1,413
24,015
7,831
439
1,717
2,230
4,251
2,054
1,380
25,167 '23,276
8,278 '7,809
462
'437
1,854 r 1, 507
2,343 ' 2, 157
4,274 ' 3, 825
2,155 '2,046
1,485 ' 1, 266
24, 760
8,153
454
1,907
2,234
4,086
2,110
1,301
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Manufacturers' export sales:
Durable goods industries:
Unadjusted, total
Seasonally adj . , total*
Shipments (not seas, adj.), totalcf
mil. $
do
-.- -
do
548,542
603,718
47,967
52,950
54,016
52, 495
.
do
do
do
do
do
do
do
do
do
do
299,680
14, 479
45,867
22,846
31,443
52,066
41,443
74,863
43,096
9,500
330, 951
15, 754
50, 457
24,901
34, 180
58,047
42,353
84,163
47,638
11,370
24, 692
1,403
3,536
1,497
2,896
4,519
3,389
4,976
2,126
955
28,404
1,449
3,912
1,579
2,965
5,029
3,754
7,067
4,018
1,062
29,541
1,496
4,125
1,754
3,079
5,094
3,681
7,835
4,749
1,025
28,831
1,325
4,051
1,698
2,852
4,968
3,692
7,932
4,665
1,043
27, 651
1,215
3,910
1,707
2,685
5,113
3,593
7,302
3,935
1,041
27,331
1,198
4,329
1,997
2,657
4,745
3,362
7,192
4,236
967
30,287 31, 054
1,387
1,295
4,884
4,741
2,305
2,153
2,994
3,009
5,720
5,513
3,867
3,728
7,814
7,741
4,393
4,446
1,101
1,056
Nondurable goods industries, total 9 __
Food and kindred products
Tobacco products __
Textile mill products
Paper and allied products .
C hemicals and allied products
Petroleum and coal products.
Rubber and plastics products
do
do
do
do
do
do
do
do
248, 862
83, 017
4,768
19, 241
21, 120
42, 347
21, 211
12, 597
272, 767
90, 157
4,922
21,458
24,208
46,465
22,267
14,265
23,275
7,729
438
1,819
2,041
3,940
1,884
1,160
24,546
8,251
423
1,981
2,186
4,204
1,897
1,221
24,475
8,115
412
1,956
2,174
4,109
1,905
1,321
23, 664
7,997
420
1,863
2,077
3,923
1,910
1,239
22, 546
7,732
414
1,702
2,020
3,634
1,912
1,240
22, 121
7,327
376
1,626
2,070
3,749
1,855
1,227
23,646
7,644
399
1,752
2,219
3,995
1,949
1,344
Durable goods industries, total 9 . .
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
Fabricated metal products
Machinery, except electrical
Electrical machinery.
Transportation equipment
Motor vehicles and parts
Instruments and related products
Shipments (seas, adj.), totalcf
By industry group:
Durable goods industries, total 9
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
Fabricated metal products.
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles and parts...
Instruments and related products
do
49,825
51,441
52,560
52, 548
51, 494
52, 801
53,302 53, 078
53,298
53,741
54,786 '54,908
54,814
do
do
do
do
do
do
do
do
do
do
26,837
1,295
3,662
1,516
2,799
4,853
3,503
6,906
3,966
969
27, 985
1,347
3,963
1,626
2,859
5,075
3,545
7,227
4,188
999
28,960
1,390
4,220
1,835
3,005
5,194
3,529
7,555
4,329
989
28, 786
1,334
4,180
1,807
2,896
5,185
3,586
7,568
4,238
1,028
27, 742
1,352
4,152
1,894
2,793
5,009
3,511
6,845
3,722
984
29, 325
1,414
4,508
2,089
2,961
5,222
3,620
7,284
4,117
1,089
29,914
1,454
4,585
2,096
3,031
5,352
3,685
7,463
4,212
1,083
29,530
1,441
4,578
2,115
2,940
5,319
3,725
7,273
4,042
1,078
29, 643
1,422
4,571
2,096
3,061
5,276
3,737
7,346
3,997
1,084
29,573
1,402
4,643
2,119
2,968
5,248
3,764
7,275
3,910
1,103
30,136
1,381
4,728
2,212
3,094
5,422
3,943
7,244
4,073
1,158
'30 121
'1,388
' 4, 777
'2,238
'3,088
' 5, 261
' 3, 930
'7,432
'4,000
' 1, 101
30,346
1,394
4,652
2,172
3,087
5,475
3,878
7,649
4,183
1,177
22,988 23,456 23,600
7,869
7,721
7,812
421
411
418
1,805
1,746
1,848
2,112
2,016
2,117
4,061
4,014
4,061
1,890
1,869
1,884
1,276
1.221
1.197
' Revised.
1 Based on data not seasonally adjusted.
2 Advance estimate; total mfrs.
shiprrents for Aug. 1969 do not reflect revisions for selected components.
§ The term "business" here includes only manufacturing and trade; business inventories as shown on p.
S-l cover data for all types of producers, both farm and nonfarm. Unadjusted data for manufacturing are shown below and on p. S-6; those for wholesale and retail trade on pp. S-ll
Digitized
FRASER
andforS-l2.
cf Series revised to reflect benchmarking manufacturing data to 1961-66 annual
surveys of manufactures, and to reflect revision of the retail sales sample. Complete details
23, 762
8,003
418
1,788
2,089
4,139
1,919
1,279
23,752
7,930
420
1,804
2,109
4,065
1,925
1.286
23, 476
7,669
414
1,790
2,172
3,935
1,894
1.301
23,388
7,624
415
1,740
2,201
3,980
1,949
1.328
23, 548
7,778
411
1,784
2,186
3,892
1,971
1. 327
23, 655
7,755
421
1,758
2,226
3,913
1,988
1. 333
24,168
7,869
439
1,751
2,241
4,063
2,067
1.335
24,650
8,085
422
1,771
2,259
4,095
2,103
1.403
'24,787
' 8, 114
'425
' 1, 789
' 2, 333
' 4, 118
'2,030
' 1. 395
24, 468
8,146
433
1,841
2,204
4,150
2,095
1.341
Nondurable goods industries, total 9
Food and kindred products.
Tobacco products
_.
Textile mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
do
do
do
do
do
do
do
do _
for manufacturing appear in the Census report Manufacturers' Shipments, Inventories, and
Orders: 1961-68—Series M3-1.1. See note marked "i" for p. S-ll regarding new retail sales
sample. Revised unadj. data for mfg. and trade sales back to 1961, and unadj. and seas. adj.
inventories back to 1961 appear on p. 22 ft. of the Nov. 1968 SURVEY; seas. adj. mfg. and trade
sales and retail sales for 1961-67 and inventory-sales ratios for 1961-67 appear on p. 51 ff. of the
May 1969 SURVEY.
f Revised series; see corresponding note on p. S-12.
*New series.
9 Includes data for items not shown separately.
© See corresponding note on p. S-ll.
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
Annual
October 1969
1969
1968
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES,
INVENTORIES,
AND ORDERS d1— Continued
Shipments (seas, adj.)— Continued
By market category:
Home goods and apparel
mil. $..
Consumer staples _
do _
Equipment and defense prod., excl. auto do __
Automotive equipment
do
Construction materials and supplies
do
Other materials and supplies
do
Supplementary market categories :
Consumer durables
do
Defense products (old series)
do
Defense products*
do
Machinery and equipment. .
do
Inventories, end of year or month:
Book value (unadjusted), total d"
Durable goods industries total
Nondurable goods industries, total
151,206
1106,412
184, 149
148,769
142,916
1215,090
i 55, 126
115, 551
i 96, 115
i 54, 048
i 48, 587
234, 291
4,519
9,831
8,015
4,559
3,998
18,903
4,551
9,905
8,234
4,771
4,248
19, 732
4,559
10, 126
8,483
4,919
4,304
20, 169
4,407
10, 257
8,609
4,821
4,221
20, 233
4,569
10,228
8,182
4,275
4,218
20, 022
4,849
9,945
8,764
4,642
4,444
20, 157
4,715
9,841
8,828
4,764
4,637
20, 517
4,703
9,927
8,738
4,572
4,517
20, 621
4,738
9,981
8,886
4,531
4,531
20,631
4,820
10,116
8,889
4,476
4,494
20,946
5,066
10, 322
8,864
4,650
4,452
21, 432
' 5, 017
10,508
' 8, 960
' 4, 618
' 4, 404
21,401
4,691
10,500
9,155
4,811
4,393
21,264
123,461
139,279
i
i
i
i
24, 031
46, 201
23, 917
68, 757
1,939
3,742
1,823
5,682
1,990
3,839
1,884
5,921
2,032
4,060
2,070
5,926
1,927
4,078
2,042
6,140
2,033
3,830
2,080
5,959
2,153
3,971
1,875
6,102
2,165
4,009
1,851
6,263
2,126
4,001
1,875
6,212
2,159
4,128
2,035
6,160
2,128
4,117
1,971
6,219
2,250
4,029
1,989
6,316
'2,280
' 4, 182
' 2, 077
' 6, 198
2,139
4,154
2,163
6,458
163,709
do
do
do
82, 561
53, 217
29,344
88,239
57, 034
31, 205
86,247
55,897
30,350
86,409
56, 141
30,268
86,887
56, 265
30, 622
87, 382
56, 497
30,885
88,239
57,034
31,205
89, 179
57, 789
31, 390
90, 158
58,568
31, 590
90,885
59, 293
31, 592
91, 779
59, 973
31,806
92,808
60,805
32,003
92, 509
60, 863
31, 646
92,682
61,113
31,569
93, 176
61, 520
31, 656
Book value (seasonally adjusted) total c? do
By industry group:
Durable goods industries total 9
do
Stone, clay, and glass products
do
Primary metals
do
Blast furnaces steel mills
do
Fabricated metal products
do
Machinery, except electrical
do
Electrical machinery
do
Transportation equipment
do
Motor vehicles and parts
do
Instruments and related products. .do
By stage of fabrication^
Materials and supplies 9
do
Primary metals
do
Machinery (elec and nonelec ) do
Transportation equipment
do
Work in process 9
do
Primary metals
do
Machinery (elec. and nonelec. )._ .do
Transportation equipment
do
Finished goods 9
do
Primary metals
do
T^Iachinery (elec and nonelec ) do
Transportation equipment
do
82,819
88, 579
86,713
87,109
87, 566
87,947
88,579
88, 905
89, 556
90,317
91, 018
92,139
92, 215
93,166
93,649
53, 540
1,952
7,644
4,319
5,465
10, 905
8,157
12, 679
3,827
2,013
57, 422
2,219
7,552
4,039
6,287
11,310
8,560
13, 939
4,257
2,183
56,069
2,003
7,433
3,994
6,102
11,174
8,448
13,761
4,411
2,061
56,458
2,029
7,502
4,065
6,121
11,213
8,502
13,889
4,248
2,067
56, 657
2,064
7,426
3,985
6,229
11, 147
8,524
13, 891
4,257
2,105
56, 953
2,153
7,504
4,010
6,229
11,222
8,528
13, 844
4,221
2,122
57, 422
2,219
7,552
4,039
6,287
11, 310
8,560
13,939
4,257
2,183
57, 879
2,289
7,528
4,019
6,289
11,528
8,551
14, 076
4,308
2,240
58,282
2,372
7,554
4,042
6,129
11, 738
8,592
14, 186
4,226
2,275
58,978
2,361
7,627
4,074
6,220
11,837
8,735
14, 350
4,289
2,319
59, 426
2,391
7,682
4,121
6,267
11, 946
8,762
14, 482
4,263
2,345
60,222
2,390
7,764
4,200
6,305
12,149
8,957
14,689
4,216
2,339
60,479
2,431
7,798
4,194
6,358
12,294
8,913
14, 714
4,175
2,387
61,441
' 2, 463
••7,800
r 4, 185
' 6, 407
12,542
'9,044
15,154
'4,306
r 2, 407
61,706
2,462
7,887
4,230
6,407
12, 568
9,091
15, 229
4,300
2,400
15, 592
2,815
4,785
2,968
24, 675
2,671
9,021
8,527
13,273
2,158
5,256
1,184
16,637
2,787
4,821
3,402
26, 357
2,547
9,472
9,162
14, 428
2,218
5,577
1,375
16,781
2,853
4,867
3,496
25,544
2,469
9,311
8,981
13,744
2,111
5,444
1,284
16,704
2,876
4,850
3,436
25, 772
2,486
9,305
9,128
13, 982
2,140
5,560
1,325
16, 763
2,850
4,816
3,403
25, 825
2,451
9,319
9,146
14,069
2,125
5,536
1,342
16, 676
2,783
4,830
3,366
26, 085
2,536
9,391
9,139
14, 192
2,185
5,529
1,339
16, 637
2,787
4,821
3,402
26, 357
2,547
9,472
9,162
14, 428
2,218
5,577
1,375
16, 706
2,800
4,862
3,348
26, 631
2,506
9,611
9,289
14, 542
2,222
5,606
1,439
16, 613
2,765
4,935
3,301
26,961
2,535
9,769
9,436
14, 708
2,254
5,626
1,449
16,980
2,824
5,003
3,388
27,264
2,573
9,879
9,561
14,734
2,230
5,690
1,401
16, 935
2,814
5,024
3,348
27, 463
2,609
9,948
9,657
15, 028
2,259
5,736
1,477
17,055
2,843
5,117
3,332
27,872
2,612
10,102
9,854
15,295
2,309
5,887
1,503
17, 045 17,159
2,806 ' 2, 760
5,143 ' 5, 140
3,291 r 3, 444
28,072 28,714
2,674 r 2, 687
10, 134 r 10,355
9,927 r 10,232
15, 362 15,568
2,318 r 2, 353
5,930 r 6, 091
1,496 '1,478
16, 970
2,785
5,146
3,228
28, 976
2,723
10, 410
10, 415
15, 760
2,379
6,103
1,586
29,279
7,094
2,269
3,232
2,190
5,600
1,971
1,601
31, 157
7,370
2,261
3,539
2,384
5,937
2,118
1,801
30,644
7,434
2,259
3,474
2,327
5,751
2,066
1,748
30, 651
7,423
2,219
3,477
2,331
5,793
2,083
1,733
30, 909
7,491
2,211
3,470
2,359
5,871
2,114
1,731
30, 994
7,417
2,231
3,425
2,351
5,882
2,136
1,833
31,157
7,370
2,261
3,539
2,384
5,937
2,118
1,801
31, 026
7,264
2,219
3,507
2,403
5,977
2,068
1,811
31, 274
7,248
2,203
3,534
2,419
6,088
2,076
1,831
31, 339
7,215
2,226
3,548
2,420
6,177
2,069
1,799
31, 592
7,293
2,203
3,581
2,439
6,255
2,061
1,811
31,917
7,416
2,209
3,565
2,458
6,336
2,077
1,837
31,736 ' 31,725
7,418 ' 7, 296
2,211 ' 2, 230
3,539 ' 3, 509
2,448 r 2, 486
6,332 ' 6, 395
2,079 ' 2, 078
1,808 r 1, 851
31, 943
7,338
2,224
3,587
2,474
6,399
2,085
1,888
11, 247
4,496
13, 536
11, 598
4,855
14,704
11,508
4,729
14,407
11, 511
4,679
14,461
11,609
4,724
14, 576
11,512
4,752
14, 730
11,598
4,855
14,704
11,497
4,991
14, 538
11,554
5,014
14,706
11, 519
4,943
14,877
11, 672
4,970
14, 950
11,783
5,016
15,118
11,704 r 11,684
4,946 ' 4, 945
15,086 ' 15,096
11, 758
4,986
15, 199
8,589
11,297
20,955
4,640
6,445
30,893
9,469
11, 786
22, 191
5,199
7,410
32,524
9,043
11,714
21,774
5,306
6,944
31,932
9,206
11,709
21,988
5,172
6,969
32, 065
9,327
11, 789
21, 943
5,195
7,129
32,183
9,460
11, 758
22, 018
5,134
7,236
32, 341
9,469
11, 786
22, 191
5,199
7,410
32, 524
9,360
11, 696
22,475
5,281
7,538
32, 555
9,490
11,807
22, 753
5,235
7,540
32, 731
9,667
11,830
22,970
5,332
7,640
32, 878
9,738
11,903
23,066
5,330
7,723
33, 258
9,850
12,939
23,582
5,323
7,714
33,631
9,696 ' 9, 732
12, 077 ' 12,001
23, 792 24,349
5,287 ' 5, 449
7,761 ' 7, 832
33, 602 ' 33,803
9,833
12, 055
24, 531
5,436
7,799
33, 995
4,333
10,307
13,689
4,645
11, 513
7,126
14, 038
4,498
11,146
7,138
13,846
4,643
11,404
7,287
13, 873
4,671
11,410
7,233
13, 851
4,727
11, 458
7,251
13,881
4,645
11, 513
7,126
14,038
4,579
11,571
7,227
14, 308
4,717
11, 675
7,324
14, 494
4,821
11,741
7,327
14, 702
4,867
11, 824
7,374
14, 852
4,925
12,194
7,508
15,070
4,872 ' 4, 961
12, 164 ' 12,454
7,485 ' 7, 713
15,300 ' 15,621
5,057
12, 572
7,691
15, 629
551, 138
302, 265
248, 873
607, 161
334, 422
272, 739
48,449
25,316
23,133
53,605
29,052
24,553
55, 022
30,536
24, 486
52, 136
28, 471
23,665
51,134
28,650
22, 484
50, 638
28,531
22, 107
54,850
31, 125
23, 725
55,696
31, 449
24,247
56, 010
31, 896
24, 114
54,204
30,175
24,029
56, 743 ' 51,551
31,544 ' 28,355
25, 199 ' 23,196
53,040
28, 340
24, 700
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 market categories:
Consumer durables
do
Defense products (old series)
do
Defense products*
do
Machinery and equipment
do
New orders, net (not seas, adj.), total d*
Durable goods industries, total
Nondurable goods industries total
New orders, net (seas adj ) tot aid"
By industry group:
Durable goods industries, total 9
Primary metals
Blast furnaces, steel mills
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Aircraft, missiles, and parts
Nondurable goods industries, total
Industries with unfilled orders©
Industries without unfilled orders^
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 market categories:
Consumer durables
Defense products (old series)
Defense products*
..
Machinery and equipment
- do
do
do
do
1551,138 1607,161
50,201
51, 877
53,931
53,100
53, 101
53, 119
53.901
53,283
54,635
54,133
53, 861 ' 55,309
54,338
do
do
do
do
do
do
do
do
302,265
45,393
23,037
32, 557
51, 714
41,749
76, 849
28, 620
334, 422
49, 790
24, 380
35, 276
58, 286
42, 330
86, 790
31, 514
27,329
3,491
1,400
2,917
4,766
3,501
7,479
2,492
28,381
4,092
1,682
3,103
5,184
3,668
6,996
2,098
30, 280
4,397
1,990
3,271
5,403
3,751
7,764
2,749
29, 325
4,475
2,120
3,225
5,134
3,505
7,589
2,654
29,380
4,345
1,941
3,195
5,210
3,656
7,578
2,755
29,684
4,675
2,124
2,755
5,350
3,581
7,487
2,690
30, 482
4,666
2,071
2,841
5,626
3,767
7,842
3,031
29,697
4,614
2,110
2,980
5,538
3,746
7,107
2,492
30, 944
4,806
2,307
3,158
5,650
3,928
7,695
2,562
29,998
4,772
2,246
3,119
5,579
3,710
7,228
2,564
29, 171 ' 30,585
4,825 ' 5, 161
2,308 ' 2, 510
3,157 ' 3, 197
5,627 ' 5, 433
3,664 ' 4, 079
6,341 ' 7, 070
1,796 ' 2, 502
29, 909
4,936
2,378
3,111
5,439
3,735
7,145
2,431
do
do
do
248,873
66,285
182,588
272, 739
74, 348
198, 391
22,872
5,953
16,919
23, 496
6,434
17, 062
23,651
6,518
17, 133
23,775
6,447
17, 328
23, 721
6,451
17, 270
23,435
6,494
16, 941
23, 419
6,504
16,915
23,586
6,568
17, 018
23,691
6,637
17,054
24,135
6,634
17,501
' 24,724
24,690 '6,856
6,748 ' 17,868
17,942
24,429
6,614
17, 815
do
do
do
do
do
do
150,966 i 55, 173
1106,416 1115,594
186,057 i 98, 601
148,306 i 54, 554
144,019 i 49, 522
1215,374 1233,717
4,460
9,827
8,142
4,649
4,135
18,988
4,601
9,931
8,495
4,984
4,480
19,386
4,575
10, 126
9,527
4,694
4,500
20,509
4,425
10,256
8,370
4,864
4,510
20, 675
4,595
10,220
8,649
4,639
4,508
20,490
4,816
9,945
9,043
4,710
4,333
20, 272
4,764
9,845
9,520
4,743
4,507
20, 522
4,801
9,920
8,719
4,581
4,493
20, 769
4,750
9,969
9,305
4,665
4,642
21, 304
4,709
10,110
8,761
4,655
4,561
21,337
5,030 ' 5, 072
10, 327 ' 10,499
8,063 ' 9, 195
4,547 ' 4, 555
4,499 ' 4, 479
21,395 ' 21,509
4,599
10, 492
8,634
4,826
4,445
21, 342
1,884
3,913
2,355
6,027
2,033
3,554
1,919
5,916
2,033
4,407
2,384
6,550
1,973
3,895
1,953
6,089
2,084
4,198
2,314
6,237
2,128
4,025
1,844
6,204
2,235
4,392
2,313
6,511
2,204
3,806
2,152
6,414
2,156
4,015
2,076
7,099
2,026
3,811
1,787
6,428
'2,346
'4,047
'2,380
' 6, 346
2,042
3,745
1,539
6,197
do
123,257
do
142,473
do
do.... 162,999
i 24, 120
i 47, 409
169,650
2
* Revised.
1 Based on data not seasonally adjusted.
Advance, estimate; total Eafrs.
new orders for Aug. 1969 do not reflect revisions for selected compoilents.
d"See c<)irespending note on p. S-5.
*New series; see corresponding note on p. S-7.
9lncl udes
data for items not shown separately.
© Includes textile mill products, leather £md prodiicts,
paper and allied products, and printing and publishing industries; UE[filled orelers for o ther
2,226
2,869
1,268
6,528
nond urable gc ods industries ar<i zero,
1IF ar these ndustries (food a nd kindi ed prodiicts, tob acco proc ucts, ap parel ancI related
prodiicts, petr oleum anid coal pr oducts, c lemicals and allie d produc ts, and ruibber ancI plastics
prodiicts) sales are considered e qual to n ew order s.
SURVEY OF CURRENT BUSINESS
October 1969
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
Annual
S-7
1969
1968
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS^— Continued
Unfilled orders, end of year or month (unadjusted),
tota!5
mil $
Durable goods industries, total
do
Nondur goods ind with unfilled orders© do
82,499
79, 480
3,019
Unfilled orders, end of year or month (seasonally
adjusted), totall_.. mil. $
By industry group:
Durable goods industries total 9
do
Primary metals
do
Blast furnaces steel mills
do
Fabricated metal products
_ do
Machinery, except electrical
do
Electrical machinery _ .
do
Transportation equipment
do
Aircraft, missile?, and parts
do
83,686
80, 578
7,019
3,644
8,976
14, 551
13, 235
31, 031
25,682
do
3,108
3,081
3,007
3,045
3 097
3 110
3,081
3,038
do
do_
do
do
2,125
44, 304
9,313
27 944
2,220
47,300
10, 279
27 353
2,091
45,368
9,270
26, 455
2,165
45, 843
9,504
26 105
2,182
46, 662
9 700
26 447
2, 199
46, 468
9 990
26 882
2,220
47,300
10, 279
27 353
2,186
47,649
10 169
27 465
do
do
do
do
1,698
31,888
21, 243
1,790
33, 108
21 818
22, 141
1,650
32,860
21, 324
21, 295
1,692
32, 577
21, 358
21, 287
1,693
32, 925
21 672
21, 912
1 738 1,790
32, 740 33, 108
21 584 21, 818
21, 862 22, 141
206, 569
233,635
19, 052
20, Oil
19, 015
20 986
21,636
21 394
17, 770
21 155
12, 364
1,329
2,261
1,832
5,696
1,246
9,636
1,106
1,670
1,513
4,366
981
734
87
129
105
344
69
705
68
112
126
320
79
768
92
151
111
347
67
1,265,227
144, 965
323, 680
325, 869
334, 279
136, 434
940, 996
87, 289
212, 459
291, 700
220, 223
129, 325
65, 766
6,525
14, 595
22, 113
14, 098
8 435
58,651
5,857
15, 703
15, 951
13, 721
7,419
36.5
40.3
Nondur. goods ind. with unfilled orders©
By market category:
Home goods, apparel, consumer staples
Equip, and defense prod., incl. auto.. _
Construction materials and supplies
Other materials and supplies
Supplementary market categories:
Consumer durables
_
Defense products (old series)
Defense products*
Machinery and equipment-
BUSINESS INCORPORATIONS^
New incorporations (50 States and Dist. Col.):
Unadjusted
_
number
Seasonally adjusted
do
INDUSTRIAL AND COMMERCIAL
FAILURES <f
Failures, total
_
_
.number '
Commercial service
_ _ _ do
Construction
do
Manufacturing and mining
_
do
Retail trade
do
Wholesale trade ._
do
Liabilities (current) , total
Commercial service
Construction
Manufacturing and mining
Retail trade
Wholesale trade
_
thous. $
do
. _ do
do
do
do
Failure annual rate (seasonally adjusted)
No. per 10,000 concerns..
249.0
85, 938
82,946
2,992
87,126
84,150
2,976
88,041
84,988
3,053
88,480
85, 380
3,100
89, 796
86, 621
3,175
89, 595
86, 407
3,188
88,847 •• 89,892
85,631 rr86,759
3,216
3, 133
89,460
86, 386
3,074
85, 539
87, 152
87,469
88,064
88, 267
89,603
89, 986
89,058 ' 89,456
88,982
81 894 82 429
5,840 6, 133
2 740 3 053
9,381 9, 711
14 637 14 58P
13, 148 13, 065
32 918 32 936
26, 670 26 599
84, 071
6,327
3,100
10, 114
14, 790
13, 210
33, 670
26, 858
84431 84, 994
6,494 6,575
3,109
3 134
9,908 9,716
14,919 15, 193
13,170 13, 251
33873 34, 251
26,953 27, 345
85, 159
6,611
3,104
9,756
15, 410
13, 272
34,086
27, 173
86, 461
6,848
3 316
9,854
15, 783
13, 461
34 436
26, 987
86, 878
6,975
3 442
10, 002
16, 113
13, 408
34 388
26, 828
85,910 r 86,369
7,073 '7,456
3,538 r 3 810
10,066 T' 10,175
16,314 16,487
13,127 ' 13,276
33,484 rr 33,121
26,035 25,771
85, 934
7,740
4 016
10,200
16, 452
13, 132
32, 619
25, 433
3,070
3,108
3 142
3 108
2,238 2,328
2,328
48, 317 48, 310 48, 863
10, 038 10,013 1 10 124
27, 471 27, 616 28 288
2,208
48, 913
10 190
28 675
83,700
80,667
3,033
84, 358
81,318
3,040
85, 357
82, 307
3,050
85, 003
81, 951
3 052
87, 152
83, 184
83, 617
84, 991
84 071
6,327
3 100
10, 114
14, 790
13, 210
33 670
26, 858
80, 177 80, 572
5,533 5,662
2,529
2 585
8,870
9,115
14, 321 14, 430
12, 801 12, 923
32, 941 32,709
27, 012 26,604
85, 938
82,946
2 992
2
38. 6
3,148
T
3, 087
3 048
2,176 '2,223
48,006 rr 48,173
10,237 10 312
28 639 r 28 748
2,123
47,668
10 364
28 827
1,749
31, 227
21 340
23 932
1 765 1,834
33,163 33, 546
21 786 22, 249
22,242 22, 489
1,911
33, 350
22, 526
22,691
r
1,846
1 909 1 805 1,781
33, 237 32, 931 31,771 r 31,634
22 567 22 383 21 662 rr 21 964
23 627 23 836 24,044 24 193
20, 310
20 292
24, 327
20 578
20 811
22 199
23, 089
21, 353
24 700
23 467
23 694
23 230
24,128
23 711
24 014
23 770
21, 140
23 155
696
87
115
97
341
56
563
73
93
90
256
51
689
65
101
121
325
77
731
79
127
112
353
60
868
111
144
126
407
80
823
109
148
142
363
61
812
105
157
122
360
68
792
109
148
126
324
85
689
113
131
113
283
49
702
86
126
108
303
79
65 384
6,631
18, 001
13, 512
17, 594
9 646
58 651
7,949
8,157
20, 482
16, 908
5,155
83, 414
5,862
11, 394
48, 285
12, 252
5,621
75, 027
5,674
10, 068
27, 256
23, 406
8,623
89 993
12 323
15 411
30, 951
20 494
10 814
84, 121 118 761
9,176
9,068
15,206 18, 679
21, 698 57, 845
23, 827 17, 471
14, 214 15 698
92 605
7,917
20, 543
33, 043
20, 455
10 647
91 921 112 727
20, 430 r 8,047
10, 735 19 457
24, 026 63, 474
22 774 17 189
13 956
4 560
62 830
4 347
10, 293
19, 252
17 851
11 087
37.5
35.7
29.9
32.0
35.6
38.0
36.4
36.9
39.8
34.9
36.0
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS
Prices received, all farm products!
1910-14=100..
261
261
262
253
268
Crops9
do
229
225
231
226
228
Commercial vegetables
do
271
283
313
283
284
Cotton
_ _
do
192
220
222
224
191
Feed grains and hay
do
174
147
159
151
148
Food grains
do
149
177
160
150
155
Fruit
do
332
242
303
310
352
Tobacco
do
555
574
567
577
562
Livestock and products 9
do
292
277
288
291
300
Dairy products
do
306
317
318
328
337
Meat animals
do
336
346
353
352
338
Poultry and eggs
do
132
145
142
166
149
Prices paid:
All commodities and services
do
302
311
312
••312
310
Family living items
do"""
322
337
335
338
339
Production items. _
do
292
287
292
292
292
All commodities and services, interest, taxes, and
wage rates (parity index)
1910-14 =100..
342
355
354
••356
358
Parity ratio §
do
73
74
74
74
75
CONSUMER PRICES
(U.S. Department of Labor Indexes)
Unadjusted indexes:
All items
1957-59=100
122.9
116.3
121.9
121.2
122.2
Special group indexes:
All items less shelter. ..
do
115.9
121.2
120.6
121.5
122.2
All items less food
do
122 6
116 8
121 9
123 0
123 8
All items less medical care. ..
do
115.0
119.7
120.5
12l! 5
120.8
Commodities
do
115 9
116 1
116 8
111.2
115 3
Nondurables
do
119 2
120 2
114.0
118.4
119.6
Nondurables less food.
do
113.1
117.7
118.9
119.7
118.1
Durables 9
do
104.3
107 5
107 6
107 7
108 5
Commodities less food
do
113 9
109 2
113 2
114 7
113 5
Services...
do
127 7
136 0
136 6
134 3
135 5
Services less rent
do
141.2
131.1
138.6
140.0
140.5
' Revised.
1 Advance estimate; total mfrs. unfilled orders for Aug. 1969 do not reflect
revisions for selected components.
2 Based on unadjusted data.
1[ See note marked
<? ' on p. S-5.
© See corresponding note on p. S-6.
9 Includes data for items not
shown separately.
*New series. Based on separate reports on defense work filed by large
defense contractors in ordnance, communications, complete aircraft, aircraft parts, and shipbuilding industries. It differs from the old series in that it includes defense activity in shipbuilding and excludes nondefense work in ordnance, communications, complete aircraft, and
264
231
353
204
156
159
285
577
292
340
337
154
262
223
344
182
159
155
250
584
296
336
343
162
263
220
323
163
162
155
259
579
299
333
349
166
267
226
336
166
165
156
272
583
302
329
362
156
271
228
324
173
164
156
285
583
308
323
375
160
271
227
326
174
167
156
259
585
309
318
385
150
282
237
406
170
173
157
269
585
321
314
419
134
284
231
310
180
173
151
298
585
329
310
437
139
282
224
308
184
170
142
259
592
332
317
426
160
279
220
297
173
167
145
257
607
330
325
422
153
275
214
285
164
166
152
245
615
328
337
407
164
314
341
294
315
341
296
315
342
296
318
344
299
321
347
302
322
349
303
325
351
306
326
351
308
325
352
305
324
352
304
325
354
304
360
73
360
73
363
72
365
73
369
73
372
73
374
75
375
76
374
75
373
75
374
74
123.4
123.7
124.1
124.6
125.6
126.4
126.8
127.6
128 2
128.7
124.4
127.1
122.5
122.7
123.1 123 5
125 0
125.4
126 3
126 7
129 3
124 4
126 8
127 5
127 9
124 7
124 9
128 4
125 6
128 8
125.2
121.9
127.0
122.5
124.0
124.7
122.2
126.0
126! 5
123.0
121.4
118.7
119 3 119 6
117 1 117 2
117 4
121 0
117 8
120.5
120.3
122.5 123.0
125.2
121 0
120.7
121 1 121.8
124.1
124 7
123.3
120.2
121.4
121.9
122.4
120.3
120.1
123 1
120.5
123.0
109 3
111 1 111 4
111 3
111 9
108 6
111 7
111 9
108 7
109 7
117 2
118.2
115.3
116.8
117.5
115 2
118.0
115 0
115 7
118 1
140 9
137 4
142 0
142 7
143 3
145 0
138 1
144 0
139 0
139 7
146.1 147.4
142.0
150.7
142.9
143.9
144.6
148.1
148.8
149.6
aircraft parts. Further details appear in the Aug. 1968 issue of the Census Bureau Current
Industrial Report, Series: M3-1.
cf Compiled by Dun & Bradstreet, Inc. (failures data are for 48 States and Dist. Col.).
^Revisions for Jan. 1964-Mar. 1969 (back to Jan. 1959 for all farm products, all crops,
commercial vegetables, and fruit) are available from the Dept. of Agriculture, Statistical
Reporting Service.
§ Ratio of prices received to prices paid (parity index).
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
October 1969
1968
1968
Annual
Aug.
Sept.
Oct.
1969
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept. *
COMMODITY PRICES—Continued
CONSUMER PRICES— Continued
(U.S. Department of Labor Indexes— Continued)
Unadjusted indexes— Continued
Food 9
1957-59=100
Meats, poultry, and fish _ _ _ - do
Dairy products
do
Fruits and vegetables
_
_ do
Housing
do
Shelter 9
do
Rent
do
Homeownership
.
do
Fuel and utilities 9
do
Fuel oil and coal
do
Gas and electricity
_do _
Household furnishings and operation... do
Apparel and upkeep
do
Transportation
._
_._
do_ _
Private
do
New cars
do
Used cars.
do
Public
do
Health a n d recreation 9
_ _ _ _ _ _ _ _ do __
Medical care
do
Personal care
_ _
do_ _
Reading and recreation
do
Seasonally adjusted indexes:
Food _ _ _ _ _ _ _
do
Apparel and upkeep
-do
Transportation
_ _ do
WHOLESALE PRICEScf
(U.S. Department of Labor Indexes)
Spot market prices, basic commodities:
22 Commodities
1957-59=100
9 Foodstuffs
do
13 Raw industrials
do
All commodities
By stage of processing:
Crude materials for further processing
Intermediate materials, supplies, etc
Finished goods O
Consumer finished goods
Producerfinishedgoods
.
By durability of product:
Durable goods
_._
Nondurable goods
Total manufactures. .
Durable manufactures
Nondurable manufactures
-
do
115.2
111.2
116.7
117.5
114.3
117.9
112.4
120.2
109.0
111.6
108.5
108.2
114.0
115.9
113.9
98.1
121.5
132.1
123.8
136.7
115.5
120.1
119.3
113.7
120.6
126.8
119.1
123.6
115.1
127.0
110.4
115.1
109.5
113.0
120.1
119.6
117.3
100.8
120.5
115.3
121.5
128.2
120.1
125.0
115.4
128.8
110.7
115.7
109.7
113.3
120.3
120.0
117.7
99.1
138.3
130.0
145.0
120.3
125.7
139.4
132.4
148.2
122.8
128.0
121.2
114.4
122.6
126.4
122.3
127.6
116.7
132.0
111.5
116.2
110.0
115.1
124.3
120.2
117.5
102.7
118.7
144.3
132.8
149.1
123.4
128.2
122.0
115.6
122.7
127.0
122.7
128.2
116.9
132.7
111.7
116.7
110.2
115.2
123.4
120.7
117.9
102.3
115.5
144.8
133.3
150.2
123.7
128.4
121.9
116.2
122.8
124.7
123.3
128.9
117.2
133.6
111.8
116.9
110.2
115.8
123.9
122.0
119.3
102.3
122.6
145.5
133.7
151.3
124.1
128.4
122.4
116.5
123.0
127.6
124.4
130.5
117.5
135.7
112.2
117.2
110.6
116.4
124.9
124.3
121.6
102.4
130.5
147.5
134.3
152.5
124.8
128.7
123.2
118.4
122.9
127.9
125.3
131.6
117.8
137.1
112.6
117.4
111.2
116.9
125.6
124.6
121.9
101.9
131.2
148.0
135.1
153.6
125.5
129.6
123.7
119.9
123.6
130.0
125.8
132.4
118.1
138.0
112.6
117.5
111.2
117.4
126.6
124.0
121.2
101.8
126.8
148.0
135.7
154.5
125.8
130.2
125.5
125.3
124.0
130.8
126.3
133.0
118.5
138.7
112.7
117.5
111.3
117.9
127.0
124.6
121.8
101.8
128.2
149.1
136.3
155.2
126.2
130.4
126.7
127.6
124.4
132.3
127.0
134.0
118.8
140.0
112.6
117.4
110.9
118.2
126.8
124.3
121.4
101.6
127.0
149.5
137.0
155.9
126.6
130.7
127.4
127.9
125.0
130.2
127.8
135.1
119.3
141.3
113.0
117.7
111.5
118.5
126.6
124.2
121.3
101.0
125.4
149.7
137.7
156.8
126.8
131.2
120.8
122.6
120.4
121.0
123.1
120.7
121.6
123.7
120.6
122.2
124.1
120.6
122.0
124.5
122.4
122.8
125.3
124.7
123.6
125.7
124.6
124.2
126.3
124.1
125.5
126.9
124.7
125.8
127.6
124.1
126.4
127.4
124.2
100.8
97.1
103.4
103.0
98.5
106.3
104.1
100.2
106.9
105.6
100.5
109.3
107.6
103.7
110.4
109.1
105.6
111.6
109.1
104.5
112.4
110.9
105.2
115.0
111.6
103.6
117.4
120.9
115.4
122.3
123.4
120.9
126.0
116.0
130.0
110.4
115.9
109.1
114.2
123.3
120.6
118.4
102.8
120.5
114.6
122.6
123.8
121.7
126.9
116.3
131.1
111.3
115.9
109.9
114.8
124.0
121.2
118.9
103.8
138.6
130.5
145.5
120.9
126.3
120.4
115.5
121.6
122.9
120.4
125.3
115.7
129.1
110.5
115.8
109.3
113.9
122.2
119.5
117.2
98.4
126.7
138.7
131.1
146.4
121.5
126.7
138.7
131.9
147.4
122.1
127.5
119.5
121.0
120.0
120.0
122.0
119.9
198.1
194.7
i 100. 4
195.7
192.8
197.8
93.7
92.2
94.9
94.5
92.2
96.1
95.2
92.0
97.5
98.1
95.1
100.3
98.8
96.1
100.7
106.1
108.7
108.7
109.1
109.1
109.6
109.8
110.7
111.1
111.7
111.9
112.8
113.2
113.3
113.4
113.6
101.3
109.2
112.6
111.1
117.1
102.8
110.1
113.2
111.8
117.6
103.8
110.7
113.3
111.7
117.8
105.7
111.4
113.8
112.3
118.1
109.7
111.4
114.7
113.5
118.5
111.2
111.4
115.4
114.2
118.7
110.2 109.5
111.4 '111.9
115.9 115.7
114.8 114.4
119.3 119.3
108.7
112.4
116.0
114.7
119.9
116.0
108.8
112.4
116.2
108.9
116.1
110.3
112.8
116.2
109.6
115.9
111.2
113.2
116.0
110.6
116.1 116.5
111.3 ' 111. 1
113.5 113.6
116.1 116.4
111.0 '111.0
117.1
111.1
113.9
117.0
111.0
110.9
114.1
115.5
115.5
114.6
114.3
110.5
103.1
83.7
90.2
126.8
108.9
106.7
81.9
92.3
123.6
108.4
103.4
83.4
89.0
119.2
do
do
do
do
do
99.6
105.6
108.2
107.0
111.6
101.1
108.0
111.3
109.9
115.3
100.8
107.9
111.4
110.0
115.4
100.9
108.3
112.0
110.7
115.7
100.2
108.5
112.0
110.6
116.4
101.5
108.6
112.5
111.0
116.9
do
do
do
do
do
108.1
104.7
106.7
108.3
105.3
111.8
106.5
109.4
112.0
106.9
111.6
106.6
109.5
111.9
107.2
112.0
107.0
109.9
112.3
107.4
112.8
106.5
110.0
113.1
107.0
113.1
107.0
110.3
113.4
107.2
113.6
107.1
110.5
113.9
107.2
114.6
107.8
111.3
114.8
107.7
115.4
108.0
111.7
115.6
108.0
105.2
111.4
113.7
112.2
118.0
116.1
108.6
112.2
116.3
108.3
do
105.2
107.6
107.7
108.6
107.4
108.3
108.4
109.8
110.0
110.7
103.3
109.3
80.4
82.9
104.2
104.9
112.0
82.5
90.5
106.1
105.0
108.7
82.0
94.3
109.2
106.5
112.1
81.6
95.5
112.5
105.6
106.8
83.1
87.0
113.8
110.5
126.7
86.7
90.7
123.0
111.2
112.9
85.6
89.8
130.4
Farm prod., processed foods and feeds
Farm pro ducts 9 ___
_
do _
Fruits and vegetables, fresh and dried- do___
Grains.
do
Live poultry
do__
Livestock .
do _
99.7
101.6
92.2
81.9
101.1
102.2
108.2
81.9
84.9
104.8
101.4
97.4
75.1
87.8
106.2
102.8
97.6
76.5
84.8
106.0
101.2
99.8
78.7
79.3
104.1
103.1
109.4
82.0
87.6
103.9
Foods and feeds, processed 9
Beverages and beverage materials
Cereal and bakery products. _
Dairy products
Fruits and vegetables, processed
Meats, poultry, and
fish
__.do-_do
do
do
do
do
111.7
106.5
117.1
121.9
107.2
105.0
114.1
109.6
118.2
127.7
114.1
108.3
114.9
109.8
119.3
128.8
113.6
109.7
115.3
110.0
119.0
129.1
113.6
111.2
114.4
110.5
119.4
130.1
114.0
106.9
114.7
110.6
119.3
130.0
114.1
107.7
114.7
110.6
119.3
130.4
113.3
107.3
116.0
110.8
119.3
130.1
113.6
111.1
116.3
111.1
119.3
130.2
114.5
111.4
116.4
111.3
119.3
130.4
115.1
112.2
117.3
111.4
119.3
131.4
115.4
114.0
119.4
111.8
119.4
132.5
115.7
121.0
121.4
112.4
119.7
133.0
115.6
126.5
122.0
112.6
119.9
133.0
116.6
127.5
121.5
112.6
120.1
133.0
116.8
124.5
121.3
113.1
120.4
133.4
116.6
122.9
_do
106.3
109.0
108.9
109.2
109.7
109.9
110.2
110.9
111.4
112.0
112.1
112.2
112.2
112.4
112.8
113.2
__do. _
do___
_ do _.
do
do
do
98.4
103.6
97.4
94.0
81.3
109.3
98.2
99.7
98.4
93.3
73.9
114.6
98.1
99.4
98.4
93.2
71.2
114.4
97.9
98.7
97.9
93.0
68.5
115.2
97.8
98.1
98.0
93.3
69.9
115.2
97.8
96.7
97.9
93.5
73.4
115.9
97.7
96.4
97.9
93.6
69.8
115.9
97.6
92.9
98.1
93.4
72.2
118.2
97.8
92.2
98.1
93.4
73.6
118.2
97.9
92.1
96.7
93.7
83.7
118.7
98.1
92.1
96.9
93.8
83.3
118.7
98.3
92.1
97.0
93.8
86.8
119.2
98.2
88.6
97.7
93.8
90.5
119.2
98.7
88.4
98.2
93.8
99.3
119.2
98.9
87.4
98.2
94.0
102.1
119.2
Fuels and related prod., and power 9
do__.
Coal...
do
Electric power.
Jan. 1958=100
Gas fuels
do
Petroleum products, refined
1957-59=100.
103.6
103.3
100.7
133.7
102.2
102.4
106.7
101.5
123.8
100.3
102.6
105.5
101.8
120.6
101.0
102.5
105.8
101.8
120.8
100.9
101.9
108.3
101.9
120.4
99.3
102.0
111.0
102.0
120.4
99.2
102.2
112.7
102.1
120.9
99.0
102.4
112.7
102.0
124.4
98.9
102.7
112.7
102.2
124.0
99.5
105.0
114.2
102.6
121.8
103.3
105.0
115.4
102.5
121.6
103.2
104.7
115.5
102.4
121.8
102.5
104.7
115.9
103.5
123.0
101.8
do__
do
do
do___
101.1
90.2
112.9
82.6
104.0
92.2
117.2
81.0
104.2
92.5
117.5
80.7
104.4
92.6
117.8
80.7
104.5
92.7
118.5
80.2
104.7
92.7
118.9
80.2
105.0
92.9
119.2
79.8
105.3
92.6
120.7
78.7
105.4
92.5
121.0
78.7
104.5
112.8
102.3
121.8
102.5
105.8
93.0
121.5
78.5
104.5
113.5
102.5
121.6
102.4
Furniture and household durables 9
Appliances, household
Furniture, household _
Home electronic equipment
_ _
98.0
92.3
97.9
93.6
80.4
118.7
104.2
112.7
102.3
124.6
101.7
105.7
92.8
121.3
78.6
105.9
93.0
121.9
78.1
105.9
92.9
122.3
78.1
106.1
93.0
122.8
77.9
106.2
93.0
123.0
77.9
106.4
93.0
123.0
77.9
Hides, skins, and leather products 9 __ do
Footwear
do
Hides and skins
do
Leather
do
Lumber and wood products
__do___
Lumber
do
115.8
122.1
94.2
110.3
105.4
108.4
119.5
128.0
99.6
112.6
119.3
127.2
119.o
127.2
102.8
113.6
120.5
129.8
120.7
128.8
106.6
114.1
122.6
131.5
122.3
131.3
105.6
115.1
124.9
133.4
122.4
131.7
107.0
113.8
126.8
136.2
122.8
131.7
106.8
115.8
133.5
142.2
123.5
132.1
109.2
116.8
137.8
147.9
126.0
126.1 125.7
123.4
132.1 132.3
131.5 131.9
109.1 125.8 122.6 117.4
122.3
121.7 121.5
116.4
143.3 138.0 129.8
149.5
164.9
155.9 142.3
164.7
118.0
118.3 118.6
117.0 117.3 117.8
131.8
131.2 131.6 131.7
131.9 132.0
134.1 134.3 134.5
133.5 133.6 134.0
104.3 104.5 104.7
103.5 103.5 104.2
131.8
132.1 132.3
131.0 131.1 131.4
OGoc>ds to us(irs, incl. raw food 5 and fueIs.
126.4
132.7
123.0
121.2
125.3
133.4
126.4
132.7
123.1
121.0
124.0
131.1
128.2
134.9
128.7
121.7
123.2
129.5
119.0
132.3
134.8
104.8
133.3
119.1
132.3
134.9
104.7
133.5
119.9
133.0
136.1
105.4
134.4
Industrial commodities
Chemicals and allied products 9 __
Agric. chemicals and chem. prod
Chemicals, industrial
Drugs and Pharmaceuticals
Fats and oils, inedible
Prepared paint
115.2 115.4 115.8 116.1
Machinery and equipment 9
do
111.8
122.4
127.1 127.0 127.7 127.8
Agricultural machinery and equip
do__.
123.2
129.6 129.0 130.3 131.5
Construction machinery and equip
do
102.9 103.1 103.2
Electrical machinery and equip. .
do
103.0
101.8
Metalworking machinery and equip
do___
128.6 129.3 129.7 130.0
123.8
r
Revised.
v Preliminary.
1 Computed by QBE.
9 Includes data fc)r items not
shown separately.
cfFor actual wholesale prices of individ nalcomm odities, aBe respec tive
116.6 116.7
129.3 130.1
132.1 132.7
103.6 103.5
130.4
130.5
comm odities.
123.4
132.2
106.3
116.5
144.5
155.8
SURVEY OF CURKENT BUSINESS
October 1969
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
Annual
S-9
1969
1968
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
COMMODITY PRICES—Continued
WHOLESALE PRICEScf-Continued
(U.S. Department of Labor Indexes— Continued)
All commodities— Continued
Industrial commodities— Continued
Metals and metal products 9
1957-59=100..
Heating equipment
do
Iron and steel
do
Nonferrous metals
do
109.6
92.7
103.6
120.9
112.4
94 9
105.5
125 3
111.3
95.4
104.8
121 7
112.2
95.5
106.7
121 5
112.5
95.6
106.7
121 9
112.4
95.8
106.0
122.4
112.8
96.0
106.1
123.5
114.4
96.1
107.5
127.2
115.2
96.3
108.0
128.9
115.8
96.6
108.8
129.9
116.5
96.8
108.9
132.4
117.5
97.0
109.9
134.2
117.9
97.2
110.3
135.5
118.7
97.7
111.1
136.1
120.4
97.7
112.7
139.5
121.7
98.0
113.2
143.5
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 products..
__
do
Tires and tubes
do
104.3
108.1
108.7
108.7
108.9
109.2
109.3
110.6
111.2
111.9
112.3
112.6
112.8
113.0
113.0
113.5
110.4
105.4
102.8
103.8
110.0
96.9
96.0
113.1
108 1
105.5
105.2
112.7
100.3
99 2
113.7
108 5
106.6
104.9
113.0
100.6
99 5
113.7
108 6
106.6
105.1
113.1
100.7
99.5
114.2
109.1
106.2
105.2
113.1
101.0
99.5
115.2
109.2
106.2
105.2
113.4
101.1
99.5
115.4
109.5
106.2
105.2
113.4
101.1
99.5
115.8
110.7
106.2
106.2
115.0
100.0
96.3
115.9
110.8
106.2
106.8
115.7
100.5
96.3
116.0
111.2
106.2
107.4
116.1
100.9
96.3
116.7
111.3
106.2
108.0
116.4
101.2
96.3
116.8
111.6
108.7
108.1
116.7
101.1
96.3
116.9
111.6
108.7
108.3
117.0
101.2
96.3
116.9
112.3
104.9
108.4
117.1
102.5
98 4
117.0
112.4
103.2
108.7
117.2
103.0
99 2
117.5
113.2
106.1
108.8
116.5
102.7
99 2
Textile products and apparel 9
Apparel
Cotton products
Manmade fiber textile products
Silk yarns
Wool products
102.0
106.8
100.7
86.5
172.0
103 3
105.7
110.3
105.1
90.8
183.0
103 7
106.0
110.9
105.3
90.7
175.1
104 1
106.5
111.0
105.4
92.5
177.5
104 1
107.0
111.7
105.3
92.7
175.5
104.7
107.2
111.8
105.4
93.0
172.0
104.6
107.1
111.9
105.1
92.9
165.2
104.6
107.4
112.7
104.8
92.8
160.8
104.7
107.2
112.7
104.8
92.3
156.4
104.4
107.1
112.8
104.6
92.1
155.0
104.2
107.1
113.0
104.5
92.4
155.4
104 3
106.9
112.9
104.6
92.6
157.9
104 3
107.2
113.3
104.5
92.7
164.6
105.0
107.7
113.9
105.3
92.6
168.2
105 0
108.7
115 8
105.7
92.7
177 1
104 8
109.0
116 2
105.9
92.1
181 2
105 0
102.2
109.3
105.8
112.9
104.9
111.8
108.3
115 2
104.4
111.6
108.9
114.9
104.1
111.9
109.0
114.9
106.5
112.0
109.1
115.0
106.6
112.5
109.2
116.5
100.0
106.6
112.5
109.3
116.5
100.1
106.5
112.5
110.2
116.6
100.1
106.4
112.5
110.1
116.7
100.0
106.3
112.5
110.5
116.7
100.1
106.4
112.7
110.8
116 9
100.2
106.5
112.8
110.7
117.0
100.3
106.6
115.1
110.9
123.2
100.4
106.6
115 5
111.2
123 4
99 9
106.0
115 9
111 8
123 5
100 0
106.1
116 4
112 1
123 8
1957-59 =$1. 00. . $0.943
do
.860
$0.920
.825
$0.920 $0.917
.818
.820
$0. 917
.814
$0.912
.810
$0.911
.808
$0.903 $0.900
.806
.803
$0. 895
.796
$0.894
.791
$0.887
.789
$0.883
.784
$0.883
.780
$0.882
777
$0.880
do
do
do
do
..do
do
Transportation equipment 9 _ _ Dec. 1968 = 100. .
Motor vehicles and equip
1957-59 =100Miscellaneous products 9
do
Toys, sporting goods, etc
do
Tobacco products
do
PURCHASING POWER OF THE DOLLAR
As measured byWholesale prices
Consumer prices
__
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE J
New construction (unadjusted), total
mil. $__
76,160
84, 692
7,963
8,082
7,891
7,792
6,822
6,211
5,888
6,487
7,175
7,762 ' 7, 960 »• 8, 178
8,316
Private, total 9
do
Residential (nonfarm)..
_ _
do
New housing units
do
Nonresidential buildings, except farm and public utilities, total 9
mil. $
Industrial
do
Commercial
_.
do
Farm construction
__
do...
Public utilities:
Telephone and telegraph
do
50,587
23,736
17 885
56, 996
28,823
22 423
5 338
2 790
2 123
5,364
2,780
2 139
5 406
2,678
2 130
5 225
2,593
2 102
4,855
2,454
1 996
4 335
2,143
1 723
4 032
1,944
1 562
4 401
2,173
1 729
4 812
2,405
1 916
5 201 r 5 557 rr 5 760
2 617 '2 829 2*904
2 076 r 2 243 r 2 265
5 738
2 843
2 167
18, 106
6,131
6,982
1,324
18,800
5,594
8,333
1 690
485
782
1,716
508
793
1,808
538
844
1,752
543
798
1,583
529
692
1,519
463
678
1,453
437
647
1,519
466
685
1,625
471
720
1 742
503
783
1,638
1,704
148
147
172
161
164
128
132
162
166
173
Public, total 9
25, 573
27, 696
2 625
2,718
2,485
2 567
1,967
1 876
1 856
2 086
9,974
706
406
721
8,538
10, 447
746
517
824
9,295
888
57
43
79
1,014
949
63
41
81
946
902
64
37
96
837
904
65
53
83
922
814
86
43
92
511
799
81
44
68
510
861
98
37
62
442
954
118
40
72
539
83.7
85.3
87.8
87 8
88 1
92 1
92 1
56.7
57.4
59 3
59 0
58 9
63 0
62 6
28 3
29 4
29 8
30 2
30 9
31 2
19 0
56
86
18.6
55
85
19.7
61
89
19.2
63
83
18.4
5.9
80
21 9
68
10 0
do
Buildings (excluding military) 9
_.do
Housing and redevelopment
do. .
Industrial
.
do..
Military facilities
__
.._
do
Highways and streets
_
do
New construction (seasonally adjusted at annual
rates), total
bil. $
Private, total 9
do
Residential (nonfarm)
.
do
Nonresidential buildings, except farm and public utilities, total 9.bil. $._
Industrial
_
_
do
Commercial...
_.
do
Public utilities:
Telephone and telegraph
do
1 826 ' 1 945 1 960
535
850
r 907
560
890
2 363
2 561 '2 403 r 2 418
2 578
1,008
111
46
89
696
1,062
85
54
84
821
61
86
30
67
91 1
90 7
90 7
90 9
r 91 4
90 9
62 4
61 3
61 5
61 6
r 62 3
61 3
31 5
32 1
31 3
30 8
30 2
r
29 6
28 9
21 5
63
99
20 6
60
98
20 2
59
9 i
20 6
59
93
21.2
'6 1
10 0
'22 4
r 6 4
r 10 4
22 1
64
98
29 6
r 562
183
1.7
1.8
2.0
1.8
1.8
2.0
18
1.9
2.0
21
2.0
27.1
27.8
28.5
28 8
29 2
29 1
29 5
28 7
29 4
29 2
29 3
29 1
9.9
.6
6
g
9.2
10.3
.6
5
g
9.2
10.5
.6
4
10
9.2
10.9
.7
7
9
94
11.0
1.0
6
1i
96
11.2
1.2
5
10
97
11 4
15
5
10
10 1
12.0
13
5
10
88
12.4
1.4
5
12
91
12.6
1.4
6
g
4
g
6,318
5,170
6,171
4,863
4,543
4,766
4,802
5 003
5,895
7 081
6,255
6,168
192
183
200
183
179
191
205
177
183
210
180
176
216
Public ownership
mil. $__ i 19, 039 1 19, 597 1,924
1,728
1,549
Private ownership
do
i 35, 475 1 42, 135 4,394
3,621 4,443
By type of building:
Nonresidential
do
i 20 139 1 22 513 2 128
1 815 2,370
Residential ^
.
do
2,408
i 21 155 1224 838 2,295
2,125
Non-building construction
do
U3,220 114,382 1,895 1,230
1,393
New construction planning
(Engineering News-Record) §
do
59, 944
52, 419
4,895 3,001 6,387
' Revised.
» Preliminary.
i Annual total reflects revisions not distributed to months.
2 See note "U" for this page.
3 Computed from cumulative valuation total,
cf See corresponding note on p. S-8.
9 Includes data for items not shown separately.
tRevisions for 1965-1967 for seasonally adjusted data appear on p. 51 of the July 1969 SURVEY;
for revisions to the unadjusted data see Bu. of Census report C30-68-6.
1,558
3 305
1,278
3 265
1 546
3 220
1,572
3 230
1 632
3 371
1 791
4 104
2 536
4*545
2 241
4 014
3 855
2 314
2,605
3 918
1 992
2 043
828
1 849
1 743
951
2 145
1 746
875
1 885
1 820
1,097
1 772 2 136
1 957 2 546
1,274
1,213
2 680
2*620
1*,780
2 322
2 462
1,471
2 370
2 225
1,574
2 460
2 394
1,669
Public, total 9
_
_
do
Buildings (excluding military) 9
do _
Housing and redevelopment
do
Industrial
do
Military facilities
___
do
Highways and streets
do
CONSTRUCTION CONTRACTS
Construction contracts in 48 States (F. W. Dodge
Division, McGraw-Hill):
Valuation, total 1
mil. $
Index (mo. data seas, adj.)
O- (
Digitized for364-132
FRASER
1957-59=100..
i 54, 514 1261,732
3153
3173
g
10
90
6,523
6,649
5,461
4,405
3,858
4,690 3,738 4,572 4,267
4,368 4,167
3,617
^Beginning Jan. 1968, data are not entirely comparable with those for earlier periods; new
compilation methods raises the level of residential data by 8 percent and the total valuation
by 3 percent.
§ Data for Aug. and Oct. 1968 and Jan., May, and July 1969 are for 5 weeks,
other months, 4 weeks.
SURVEY OF CURRENT BUSINESS
8-10
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1969
1968
1968
Annual
October 1969
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
July
Apr.
May
June
150.8 ' 126. 5 ' 127. 6
70.3
••82.9 ••72.8
147.3 ' 125. 2 ' 124. 9
Aug.
Sept.
CONSTRUCTION AND REAL ESTATE—Continued
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total, incl. farm (private and public). --thous.. 1, 321. 9
One-family structures
do
844.9
Privately owned
do
1, 291. 6
Total nonfarm (private and public) - In metropolitan areas
Privately owned.
._
-do
do
do
1, 298. 8
919.7
1, 268. 4
141.0
82.6
136.6
139.8
80.3
134.3
143.3
85.6
140.8
129.5
65.1
127.1
99.8
53.9
96.4
105.8
51.3
101.5
94.8
48.0
90.1
135.6
72.0
131.9
159.9
85.0
159.0
157.7
91.4
155.5
1,523.6
1, 117. 6
1, 483. 6
138.9
101.0
134.5
138.0
103.0
132.4
140.6
100.8
138.1
127.5
96.8
125.1
98.9
75.1
95.5
104.5
80.9
100.2
93.9
73.3
89.2
134.4
102.0
130.6
158.3
117.8
157.4
148.3 '124.3 ' 126. 2
156.1
87.4
114.5 ' 109. 0 '89.9
154.0
144.8 ' 122. 9 ' 123. 4
125.5
1,518
1,496
1,592
1,570
1,570
1,541
1,733
1,705
1,507
1,492
1,878
1,845
1,686
1,664
1,584
1,567
1,563
1,548
1,509
1,495
1,469
1,446
'1,371 ' 1, 383
'1,349 ' 1, 369
1,518
1,498
1,421
670
1,502
659
1,323
632
1,340
631
'1,245
'570
1,181
561
Seasonally adjusted at annual rates:
Total, including farm (private only) . . do
Total nonfarm (private only)
do
New private housing units authorized by building
permits (13,000 permit-issuing places) :J
Seasonally adjusted at annual rates:
Total
thous
One-family structures
do
130.9
1,547.7
900.7
1, 507. 7
1,228
570
1,141
651
1,341
689
1,290
673
1,393
706
1,378
694
1,425
729
1,463
736
1,403
671
1,477
685
125
131
133
133
135
135
136
137
137
138
139
139
141
142
142
1,034
1,154
1,116
1,047
1,001
1,040
1,148
1,109
1,048
997
1,046
1,137
1,104
1,032
1,019
1,059
1,161
1,106
1,062
1,019
1,061
1,176
1,105
1,062
1,035
127.2
129.2
CONSTRUCTION COST INDEXES
Dept. of Commerce composite J
American Appraisal Co., The:
Average, 30 cities
Atlanta
New York
. ._
_
San Francisco
St. Louis..
_ _
1957-59—100
909
992
1,008
910
903
970
1,072
1,070
966
953
986
1,081
1,090
979
967
992
1,087
1,092
980
969
994
1,110
1,092
980
969
997
1,110
1,093
1,001
969
1,007
1,111
1,099
1,013
971
1,015
1,125
1,105
1,035
978
1,026
1,138
1,113
1,047
990
1,032
1,151
1,117
1,057
996
132
139
141
142
142
143
143
145
146
146
147
148
151
153
153
E. H. Boeckh and Associates, Inc.: 1
Average, 20 cities:
All types combined
1957-59—100
Apartments, hotels, office buildings
do
Commercial and factory buildings
do
Residences
. __ do
129.8
130.7
130.2
127.4
139.9
139.1
136.7
142.5
141.7
139.2
142.1
143.1
142.2
140.1
142.2
143.3
142.4
140.3
142.3
143.4
142.4
140.3
144.1
143.1
141.1
146.3
144.5
143.2
146.2
148.0
145.7
144.9
147.5
149.2
146.9
146.4
146.9
148.4
146.2
146.3
147.3
149.0
146.5
146.7
149.7
151.5
148.9
149.0
150.8
153.0
150.3
148.9
151.9
154.5
151.0
150.4
Engineering News-Record :t
Building
Construction
_.
127.4
140.8
136.8
151.9
138.3
153.9
140.7
155.8
141.6
156.5
141.7
156.7
143.2
158.0
145.0
160.0
146.2
161.8
147.9
162.9
149.9
164.3
150.1
165.6
151.5
169.1
150.3
168.8
151.6 1 151. 0
170.0 1 169. 1
117.6
121.6
153.2
165.8
171.8
155.7
169.9
162.7
182.8
161.1
154.0
161.3
143.1
167.1
146.8
156.5
163.0
149.6
186.6
171.1
168.1
198.1
151.9
175.1
263.8
159.1
173.0
238.4
159.6
188.8
272.6
145.2
163.4
185.2
139.5
157.8
136.1
167.2
168.9
124.3
131.7
15.1
167
11.5
127
14.0
169
10.4
125
17.1
199
12.7
147
13.6
212
11.4
172
12.3
187
9.0
136
595. 13 588.18
340.69 322. 30
707. 37
359. 54
598. 76
376. 98
1913=100
do
do
do
do
Associated General Contractors of America, Inc.,
The (building only)
1957-59=100..
do
do
Bu. of Public Roads— Highway construction:
Composite (avg. for year or qtr.)... 1957-59 =100..
123.5
130.1
149.6
169.3
170.5 '178.8 ' 181. 0
176.4 '175.9 ' 168. 9
177.0
165.6
168.3
174.1
143.0
162.7
114.2
148.8
160.3
120.2
178.5
178.3
156.2
180.9
179.8
207.3
186.4 ' 180. 9
175.3 ' 161. 6
236.0 ' 245. 4
168.0
157.1
253.6
12.4
178
10.1
148
13.8
168
9.9
132
16.0
160
12.2
136
16.8
165
12.2
124
132.3
119.5
153
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
do
do
do
REAL ESTATE
Mortgage applications for new home construction:
Applications for FHA commitments
thous. units..
Seasonally adjusted annual ratesj...
do
Requests for VA appraisals
...do .
Seasonally adjusted annual ratesj.
do
Home mortgages insured or guaranteed byFed. Hous. Adm.: Face amount
mil $
Vet. Adm.: Face amount§
do
Federal Home Loan Banks, outstanding advances
to member institutions, end of period
mil. $..
Fire losses (on bldgs., contents, etc.)
525. 34 '608.39 ••494.04
365. 50 369.83 295.68
16.1
174
11.4
126
15.2
174
13.6
145
14.5
169
13.0
151
16.7
192
11.1
127
491. 60 ••541.22 ••519.70
329.04 301.30 323. 09
595. 38
308. 13
657. 56
355.55
630.40
384.56
714.28
7,940
4,386
5,259
4,997
5,026
5,035
5,040
5,259
5,357
5,298
5,331
5,764
5,971
6,413
7,053
7,544
20,122
21, 983
1,995
1,840
1,949
1,724
1,886
1,592
1,580
1,870
2,073
2,146
2,415
1,974
1,918
4,243
9,604
6,275
4,916
11,215
5,852
414
1,156
425
396
984
460
466
995
488
392
868
464
407
869
610
348
783
461
364
767
449
440
896
534
485
1,023
565
482
1,113
551
495
1,345
575
421
1,091
462
394
1,089
435
134,203
110,404
8,340
8,460
8,827
8,264
7,971
8,292
7,503
8,443
8,321
8,476
8,103
mil. $.. 1, 706. 72 1, 829. 92
159. 14
131. 69
134. 80
134. 21
156. 08
179.47
149. 12
173. 91
169.91
157.52
164.57
148. 21
172. 14
New mortgage loans of all savings and loan associations, estimated totalt
mil. $_.
By purpose of loan:t
Home construction
do
Home purchase
do
All other purposes
do
Foreclosures f
5, 884. 64 6, 495. 94
3, 404. 87 3, 773. 88
15.4
167
11.5
122
number
DOMESTIC TRADE
ADVERTISING
Marketing/Communications advertising index, seasonally adjusted:©
14.Q
152
Combined index
1957—59 100
146
155
122
Business papers
do
125
131
128
Magazines
do
142
169
162
157
125
Newspapers
do
122
124
117
Outdoor
do. .
111
104
106
96
Radio (network)
_
do...
133
130
169
118
Television (network)
do
195
200
206
213
' Revised.
1 Index as of Oct. 1,1969: Building, 151.3; construction, 171.0.
tRevisions for Jan.-Aug. 1967 for new private housing units authorized; for 1965-May 1967
for Dept. of Commerce composite; for July-Dec. 1966 for ENR building and construction
cost indexes; for 1960-66 (seas, adj.) for FHA applications and VA appraisals; and for Jan. 1961Dec. 1967 for new mortgage loans will be shown later.
164
128
175
127
125
146
233
162
162
161
159
163
125
130
128
139
128
172
164
163
163
170
134
132
132
135
133
110
92
113
79
117
117
116
139
99
123
224
226
227
231
225
^Copyrighted data; see last paragraph of headnote, p. 9-1.
9 Includes data for items not shown separately.
§ Data include guaranteed direct loans sold.
f Revised series. Data are based on a new benchmark (1967) and reflect improved reporting,
as well as the inclusion of farm foreclosures and data for Alaska and Hawaii. Jan. 1967-Apnl
1968 data will be shown later.
© Formerly Printer's Ink advertising index.
SURVEY OF CURRENT BUSINESS
October 1969
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
S-ll
1968
Annual
Aug.
Sept.
Oct.
1969
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
DOMESTIC TRADE—Continued
ADVERTISING— Continued
Television advertising:
Network (major national networks) :
Net time costs, total
Automotive, incl. accessories
Drugs and toiletries
Foods, soft drinks, confectionery
Soaps, cleansers, etc
Smoking materials
All other
-_
mil. $-. 1, 499. 9
115.8
do
429.0
do
306.8
do
134.3
do
183.1
do
331.0
do
1, 548. 1
125.8
435.1
293.3
144.9
156.8
392.3
301.0
18.1
88.6
57.4
32.9
28.4
75.6
Magazine advertising (general and natl. farm magazines):
Cost, total
.
mil. $.. 1 161 6 1, 196. 1
Apparel and accessories _
do
63.5
60 7
Automotive, incl. accessories.
do
112.6
103.7
32.3
Building materials
_ do _.
31 0
Drugs and toiletries
do
144.4
148 4
Foods, soft drinks, confectionery
_do
106.3
116.1
Beer, wine liquors
do
Household equip., supplies, furnishings.. do
Industrial materials
.
do
Soaps, cleansers, etc
do
Smoking materials
do
Allother
do
Newspaper advertising linage (52 cities):
Total
mil. linesClassified
do
Display, total _ _
do
Automotive
do __
Financial
do
G eneral
do .
Retail
-do
WHOLESALE TRADE
Merchant wholesalers sales (unadj.), total, mil. $_.
Durable goods establishments
do. __
Nondurable goods establishments
do
106.8
10.6
6.8
3.1
11.6
7.1
127 2
71
17.3
29
13.5
9.5
134.7
6.6
13.9
2.2
15.1
11.6
100.6
4.0
7.4
1.6
12.0
9.1
67.2
2.0
6.8
1.4
8.7
5.8
88 6
37
S.7
22
11 8
8.9
95.6
75.7
56.7
22.2
43.2
443.6
4.6
2.5
3.7
1.5
3.2
24.8
7.1
7.5
5.8
1.9
3.6
41.6
10 4
9.4
53
2.8
41
44.9
13.0
9.8
5.4
1.8
4.4
50.9
15.6
5.4
4.2
1.1
4.3
36.0
3.2
2.8
3.7
1.1
3.2
28.5
3 297 8 3 381.1
923.7
878 1
2 419 6 2, 457. 3
171 0
158 5
72.8
66 9
296 1
297 1
1 897 1 1 917 4
277 9
83.8
194.1
13 3
4.1
18 1
158.6
292.8
83.3
209.5
15.9
5.7
27.1
160.9
315 7
84 1
231.5
16 0
72
31 7
176 7
315.9
79.0
236.8
13.1
6.2
32.5
185.0
316.0
67.9
248.1
9.3
7.1
24.2
207.5
256.0
77.1
178.9
11.6
8.6
20.9
137.9
Otn r
°.H4. 7
7K c
89 7
215 0
i K ft
70
iqo c
•jcc 7
219, 943
100 012
119 930
18,933
8,629
10,304
18,640
8,590
10, 050
19,979
9,220
10 759
18,906
8,578
10,329
18, 917
8,428
10, 489
17, 576
8,017
9,560
16 897
19 158
89 2
70.7
62 7
22.9
39 9
416 3
205 188
90 447
m
741
108 6
70
11 3
29
12 1
9.3
122.2
7.9
11.3
3.7
13.8
9.7
125.7
5.3
11.2
4.1
15.4
8.8
98.8
2.4
9.3
2.7
14.4
8.6
71.4
1.0
5.3
1
10 9
7.7
A p.
7 3
31
33
14
69
48
17
36
41 6
85
8.4
4.6
2.2
43
47 6
95
10.5
73
1.7
41
47 8
92
6.4
56
1.2
38
35.2
67
4 4
4 5
g
36
26 4
97 Q
303 1
89 8
213 2
15 7
78
25 5
164 3
973 3
83 7
294.3
92.2
q c
37 2
174 8
•iq c
c q
90 a
97 3
299 7
87 7
212 0
16 1
78
26 6
161 4
326
95
230
17
6
19, 912
9 489
10 423
20 150
9 420
in 7^n
6
7
9
9
1
on 7
177 1
3
9
Q
0
C
14.0
4.6
18.2
165.3
IQ 3
147 t\
23 204
14* 064
9, 140
29,410
9 383
5 365
A QK1
27,015
8 703
4 814
4
4K7
30, 112
9,554
5,623
5 196
OQ7
427
1,489
1,450
933
907
464
456
1 339 1 198
907
I ftOO
291
276
19, 379 20,558
1,810
1 654
437
373
701
656
277
265
29,418
10 039
5 992
26,237
8,335
5,137
A AfU.
4 806
*331
445
1,267
1,770
786
1 025
401
613
938
1 186
727
817
211
369
24, 411 17, 902
1,403
2,641
370
689
530
990
215
343
24,844
8 245
5 058
34,086
9 675
5 049
4
743
28,814 30,812 29,625 '29,026 ' 29,488 » 28, 819
9,742 10 259 10, 207 ' 9, 496 '8 970 i 9, 257
5,924
6,152 ' 5, 616 '5 119 i 5, 319
6 200
5 500
5 695 r 5 171 A nc\A
5 750
457
'445
424
415
450
368
1,417 '1,383 ' 1, 347 i 1, 393
1,281
1,386
1,291
899
838
'859
842
902
861
372
'454
446
412
372
412
1 314
1 344 1 370 ' 1, 345
1 098 1,271
*8fifi
1 ft33
980
1 073 ' 1 048 1 ft37
291
'297
'297
232
277
311
18, 733 19, 072 20,553 19, 418 ' 19,530 ' 20, 518 119,562
1,550 ' 1, 471 '1 702 i 1, 709
1,662
1 528 1,642
'330
368
375
391
359
330
626
574
561
610
642
600
282
'262
289
349
286
265
1959
931
'961
951
1,002
932
'995
2,073 2,273
2,307 ' 2, 336 ' 2, 423 i 2, 202
2 000
i
6,
223
6,147 ' 6, 418 '6 694
6 704
6 195 6,017
5,733 ' 5, 992 '6 262 i 5, 796
6 284
5 801 5,623
2,053 2,070 2,185 2,184 ' 2, 223 '2,232 i 2, 093
22, 739
912
2,175
5 860
5,448
2,017
941
2,161
6,108
5,685
2,064
924
2,045
6,425
6,009
2,055
1,295
2,041
6,375
5,945
2,079
942
1,918
6,246
5,868
1,992
884
1 817
5 758
5 401
1,836
49, 820
54, 493
4,671
4,266
4,697
5,488
7,807
3,587
3 410
4 247
4,500
4 771
4,593
49, 295
33, 323
3,256
6,152
6,969
4,243
2,844
273
526
600
28,760
9,377
5,561
5,173
388
3,831
2,602
256
451
548
28,902
9,687
5,899
5,516
383
4,209
2,843
316
498
584
28,697
9,342
5,556
5,171
385
4,997
3,402
417
578
647
28,806
9,314
5,521
5,124
397
7,286
5,092
434
980
825
28,347
9,238
5,445
5,082
363
3,198
2,203
202
375
580
28,989
9,446
5,574
5,157
417
3 040
2 041
223
390
514
29,289
9,597
5,607
5,172
435
3 838
2 632
282
464
550
28,916
9,377
5,518
5,099
419
4,056
2,778
268
512
563
29, 442
9,575
5,572
5,145
427
4 307
2,966
258
533
627
29,386
9,481
5,516
5,102
414
4,145
2,862
244
514
596
29,371
9,545
5,634
5,220
414
357
1,412
850
460
1 257
QQ7
315
1,216
768
374
968
7Afi
202
16, 599
1 214
289
479
190
9ft 1 3ft
27,955
9 222
5r 707
qqn
962
2,413
6,596
6,166
2,202
:::::::::
3
4
189 6
H 7
8 9
T
11, 458
25, 285
73, 267
68, 311
24, 526
6,409
1 A.
22,006 22, 102 22, 518 '22,666 22, 487 22, 523 '22 720 '23 116 ••23,349 '23,348 '23,500 '23 349
13, 183 13, 065 13, 162 r13,202 13, 245 r13, 180 13 404 13 723 14, 031 14,060 14, 227 '14 172
r g gig
8, 822 '9 037 r g 357
9, 464 '9 242 9, 343 - Q q-l K
r g 273
r Q 9ftft
o 070
ift 98ft
260
18, 312
1,557
332
608
284
29, 589
4 4
U q
58
9, 302
10, 828
7 QfJO
ft nqe
414
1,479
905
476
1 355
1 077
278
20,027
1,633
342
618
295
10, 721
23, 473
69, 113
73 4
6 1
20,036 '20 008
9 549 r Q q'?'?
10 485
—
1,372
Furniture and appliance group9
do
1,433
1,395
Furniture, homefurnishings stores
do
846
856
859
Household appliance, TV, radio
do
439
475
443
Lumber, building, hardware group
do
1,204
1,190
1,196
Lumber, bldg. materials dealerscf
do
933
919
926
Hardware stores
do
271
271
270
Nondurable goods stores 9
do
19,383 19, 215 19,355
Apparel group
do
1 659 1 619 1,640
Men's and boys' wear stores
do
372
375
369
Women's apparel, accessory stores.. .do
642
639
651
Shoe stores
do
277
275
286
' Revised.
1 Advance estimate.
® Unadj. and seas. adj. (see p. S-5) wholesale inventories have been revised back to Jan. 1967; data prior to Aug. 1968 are available from
the Bureau of the Census.
{Series revised to reflect a new sample of retailers. The
most important difference between this and the old sample is accounted for by the
general merchandise group which now includes all non-stores, i.e., mail order houses, merchandising machine operators, and direct selling establishments. Formerly, many non-store
establishments were classified outside of the general merchandise group, particularly in the
381.0
27.5
104.3
70.9
38.0
38.5
101.7
436 4
35 6
131 9
87 2
41 8
47 2
92 7
67.7
6.2
3.4
1.6
10.5
5.7
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total®— mil. $— r 21, 514 ' 22, 487
Durable goods establishments
do
13, 245
12, 308
Nondurable goods establishments
do _ _ r Q 9ftfi
9 242
RETAIL TRADE J
All retail stores: t
Estimated sales (unadj.), total t
mil. $~ 313, 809 339, 710
Durable goods stores 9
do
100 173 110, 245
Automotive group
do __ 58 273 65, 261
CO QftC
60 660
£,. h !LA
H I
H
4 601
4 9/17
16, 540
Furniture and appliance group 9
do
15, 267
10 227
Furniture homefurnishings stores do
5,235
Household appliance, TV radio
do
Lumber building hardware group
do
12 675
10 984
9 781
Hardware stores
do
2 894
Nondurable goods stores 9
do, ._ 213, 636 229, 465
19, 265
Apparel group
do
18 123
4,516
Men's and boys' wear stores
do
7 429
iff omen's apparel accessory stores do
3,196
Shoe stores
_ _ _.
_ do
Drug and proprietary stores
_ do __
Eating and drinking places
_,_. _do _
Food group
do
Grocery stores
_ . _ _ _ _ do __
Gasoline service stations
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 t-do
Durable goods stores 9
do
Automotive group
do
Passenger car, other auto, dealers
do
Tire, battery, accessory dealers
do
'
498.4
48.7
134.7
88.0
36.9
49.1
141.0
r
4, 508
'4,060
' 2, 775
'245
'506
'632
' 29,090
' 9, 141
' 5, 419
'5,011
408
r
4 910 i 4, 778
'4 440 i 4, 239
' 3, 000 i 2, 897
273
561
638
' 29,411 i 29, 697
' 9, 184 i 9, 453
5,434
5,031
403
1,436
1,459 ' 1, 380
1,433
1,339
1,409
1,434
1,402
1,357
1,360
QAO
ftQK
O99
r 819
838
Qft9
852
876
853
455
'445
436
419
478
400
431
446
428
429
Ofil
0 on
9A1
1
224
1
234
'
1
190
1
1
187
I
1
1,219
1,204
1,191
974
943
951
992
909
'899
1,049
958
911
937
OCQ
001
r 9Q1
9ft 7
978
983
261
280
267
19,492 19, 109 19,543 19, 692 19, 539 19, 867 19,905 19, 826 ' 19,949 ' 20,227 i 20, 244
1,660 ' 1, 700
1,761
1,746
1,665
1,613
1,702
1,640
1,652
1,571
'375
399
414
375
399
393
416
406
387
371
640
658
633
615
649
658
622
645
642
589
344
266
296
266
'306
245
249
261
272
263
food and eating and drinking place groups. Revisions for total retail sales, durable and nondurable totals, and selected lines of trade for 1961-67, unadj., appear on p. 22 ff. of the Nov. 1968
SURVEY; those for seas. adj. data appear on p. 52 of the May 1969 SURVEY.
Further details
appear in the Census Bureau Monthly Retail Trade Report, Aug. 1968.
9 Includes data
for items not shown separately.
c?Comprises lumber yards, building materials dealers, and paint, plumbing, and electrical
stores.
§ Except department stores mail order.
SURVEY OF CUKKENT BUSINESS
S-12
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
October 1969
1969
1968
Annual
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
DOMESTIC TRADE—Continued
RETAIL TRADEt— Continued
All retail storesj— Continued
Estimated sales (seas, adj.)— Continued
Nondurable goods stores— Continued
Drug and proprietary stores. . __ ..mil. $__
Eating and drinking places
do
Food group
- do
Grocery stores
do
Gasoline service stations
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 :1
Book value (unadjusted), total
mil. $
Durable goods stores 9
. _
__do ..
Automotive group
do
Furniture and appliance group
do
Lumber, building, hardware group, .do
Nondurable goods stores 9
do
Apparel group
do
Food group _
_
. . ..do
General merchandise group with nonstores
mil. $
Department stores
do
Book value (seas, adj.), total
do
Durable goods stores 9
do .
Automotive group
do. __
Furniture and appliance group
do
Lumber, building, hardware group., .do
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:}:
Estimated sales (unadj.), total 9.
do
Apparel group 9
do
Men's and boys' wear stores
do
Women's apparel, accessory stores
do. __
Shoe stores
do
Drug and proprietary stores
do
Eating and drinking places
..do
Furniture and appliance group..
do _
General merchandise group with nonstores 9 - -mil. $
General merchandise group without nonstores §
mil. $
Dept. stores, excl. mail order sales
do __
Variety stores
do
Grocery stores .
do
Tire, battery, accessory dealers
do. _
Estimated sales (seas, adj.), total 9
do ._
963
2,133
6,244
5,839
2,106
996
2,186
6,312
5,906
2,119
975
2,191
6,278
5,868
2,086
••994
' 2, 110
'6,275
'5,863
' 2, 080
1,016
2,144
6,456
6,033
2,096
4,637
4,920
4,844
4,857 r 5, 019
4,973
4,211
2,895
296
517
601
4,468
3,080
294
558
619
4,397
3,011
285
546
615
4,398 ' 4, 556 4,486
2,991 ' 3, 143 3,052
289
294
'287
552
'560
570
'642
627
639
973
2,139
6,188
5,774
2,063
971
2,149
6,155
5,735
2,049
967
2,146
6,149
5,731
2,050
944
2,128
6,235
5,817
2,064
969
2,062
6,139
5,744
2,052
979
2,094
6,315
5,909
2,097
959
2,123
6,346
5,955
2,091
960
2,107
6,284
5,883
2,132
4,626
4,520
4,640
4,729
4,577
4,601
4,694
4,191
2,828
277
520
591
4,061
2,743
271
492
593
4,154
2,810
282
520
602
4,259
2,925
293
522
601
4,168
2,877
275
505
565
4,176
2,861
273
535
634
4,273
2,924
298
534
603
38,045
16,832
7,284
2,825
2,575
21,213
4,178
4,290
41,346
18,846
8,758
3,029
2,797
22,500
4,536
4,511
39,979
17,536
7,348
3,032
2,764
22,443
4,670
4,311
40,543
17,244
7,130
3,059
2,788
23,299
4,953
4,382
42,683
18, 246
7,898
3,140
2,806
24, 437
5,116
4,552
43, 815
18,866
8,437
3,158
2,790
24,949
5,145
4,651
41,346
18,846
8,758
3,029
2,797
22,500
4,536
4,511
41,544
19,581
9,387
3,014
2,841
21,963
4,402
4,536
42, 597
19,884
9,575
3,010
2,926
22, 713
4,695
4,503
43,744
20, 326
9,774
3,105
3,005
23, 418
4,899
4,578
44,237
20,548
9,938
3,127
3,046
23,689
4,925
4,575
43, 948
20, 132
9,643
3,075
3,012
23, 816
4,902
4,627
43, 753
20,149
9,735
3,036
2,980
23,604
4,826
4,627
43,688
19, 802
9,425
3,075
2,902
23, 886
4,873
4,624
43,015
18, 516
8,051
3,105
2,878
24,499
5,204
4,620
8,304
4,717
39,318
17,403
7,425
2,927
2,666
21,915
4,384
4,273
9,237
6,286
42,657
19,461
8,919
3,139
2,898
23,196
4,760
4,493
9,305
5,189
41, 010
18, 501
8,417
3,035
2,781
22,509
4,574
4,381
9,733 10, 505
5,375 5,884
41,424 42, 220
18, 622 19, 165
8,590 8,945
3,008 3,046
2,799 2,820
22,802 23,055
4,668 4,720
4,408 4,450
10, 810
6,116
42,488
19,361
9,121
3,019
2,798
23, 127
4,694
4,555
9,237
5,286
42,657
19, 461
8,919
3,139
2,898
23, 196
4,760
4,493
8,925
5,105
42, 740
19, 622
9,105
3,136
2,908
23,118
4,811
4,554
9,403
5,384
43,014
19, 487
8,974
3,113
2,974
23, 527
4,880
4,548
9,783
5,615
43,004
19,542
9,008
3,146
2,955
23,462
4,909
4,569
10, 013
5,752
43, 118
19, 567
9,084
3,102
2,966
23, 551
4,910
4,552
10, 141
5,782
43, 025
19, 044
8,711
3,042
2,924
23, 981
4,972
4,641
9,982
5,686
43,438
19,365
9,047
3,015
2,927
24,073
5,038
4,646
10, 194
5,824
43, 874
19, 358
9,011
3,078
2,908
24, 516
5,092
4,694
10, 431
5,979
44, 161
19, 595
9,233
3,108
2,898
24, 566
5,097
4,695
8,900
5,018
9,806
5,576
9,351
5,231
9,360
5,153
9,525
5,254
9,624
5,337
9,806
5,576
9,653
5,598
9,924
5,746
9,859
5,683
9,975
5,735
10, 275
5,876
10,274
5,904
10, 488
6,029
10, 483
6,027
94,580
5,186
767
1,837
1,335
3,373
2,122
1,303
8,279
440
54
159
118
283
186
130
7,454
426
54
153
119
266
192
120
8,068
454
71
163
111
272
189
112
9,015
492
85
176
116
275
184
117
11, 179
721
119
266
151
433
175
135
7,282
351
59
123
85
273
177
86
6,776
307
46
113
76
253
167
87
7,918
441
57
158
117
279
194
89
8,126
479
63
167
120
283
212
114
8,755
468
66
169
127
315
212
128
8,198 '8,249
462
'412
'53
68
159
150
136
'113
293
'311
'210
218
129
'123
8,842
518
60
179
159
339
222
120
38,395
3,300
2,979
3,303
3,920
5,692
2,522
2,397
3,028
3,243
3,401
3,282 ' 3, 251
3,502
35,708
26,184
4,821
34,681
1,736
3,080
2,263
407
3,122
159
8,003
446
64
161
118
290
178
2,750
2,038
347
2,694
130
7,931
443
63
160
114
289
189
3,055
2,234
391
2,890
153
8,031
444
67
158
117
287
188
3,661
2,676
468
3,181
161
8,143
442
69
158
115
275
190
5,400
3,972
792
3,088
177
8,080
419
63
153
103
281
177
2,338
1,732
294
3,110
124
8,295
454
68
168
104
301
188
2,213
1,607
307
2,861
113
8,413
457
67
167
108
291
187
2,823
2,074
373
3,080
135
8,340
443
65
159
106
291
194
3,017
2,211
416
2,909
163
8,588
502
70
177
114
298
214
3,163
2,346
428
3,303
171
8,482
462
67
163
122
320
205
3,052
2,275
410
2,903
180
8,551
487
68
171
138
299
206
3,274
2,411
447
3,290
150
8,774
533
72
184
160
349
213
3,248
3,130
3,261
3,332
3,364
3,302
3,393
3,330
3,556
3,452
3,407 '3,603
3,524
3,033
2,234
404
2,915
153
2,892
2,121
380
2,928
142
3,027
2,218
404
2,943
153
3,088
2,262
416
2,992
153
3,126
2,320
405
2,975
137
3,092
2,264
430
3,061
156
3,177
2,339
430
3,127
154
3,109
2,297
412
3,095
152
3,325
2,440
449
3,021
160
3,220
2,367
439
3,039
154
3,168 ' 3, 379
2,326 ' 2, 501
'450
439
3,088 '3,094
'162
164
3,298
2,433
455
3,191
149
18,483
6,846
11,637
7,941
10,542
18, 672
6,690
11, 982
7,939
10,733
18,641
6,892
11, 749
8,071
10, 570
18,841
6,777
12,064
8,123
10, 718
19,022
7,117
11, 905
8,368
10,6*4
19, 198
7,004
12,194
8,334
10,864
19,285
7,020
12,265
8,296
10,989
19,186
6,958
12,228
8,150
11,036
20,630
7,140
13,490
8,677
11,953
19, 378
6,941
12,437
8,317
11,061
19,746
6,790
12,956
8,173
11,573
19,381
6,907
12,474
8,274
11, 107
19,353
6,730
12, 623
7,950
11, 403
19, 741
7,068
12, 673
8,389
11, 352
19,230
6,732
12,498
8,058
11, 172
19,665
7,040
12,625
8,388
11,277
19,427
6,865
12,562
8,257
11, 170
19,746
7,096
12,650
8,368
11,378
19, 734
6,964
12, 770
8,459
11, 275
19, 771
7,001
12, 770
8,280
11,491
19, 806
7,189
12, 617
8,423
11,383
19, 695
7,003
12, 692
8,186
11,509
202.71
202.88
203. 05
Men's and boys' wear stores
do
Women's apparel, accessory stores
do
Shoe stores _
do
Drug and proprietary stores
_ do
Eating and drinking places
do
General merchandise group with nonstores 9
mil. $
General merchandise group without nonstores § . _ _
mil. $
Dept. stores, excl. mail order sales
do _
Variety stores
do
Grocery stores.
do
Tire, battery, accessory dealers.. . .. .. do . .
All retail stores, accounts receivable, end of yr. or mo.: t
Total (unadjusted) t—
mil. $
Durable goods stores
.do
Nondurable goods stores
do
Charge accounts
do
Installment accounts
do
Total (seasonally adjusted) t
do
Durable goods stores..
.
do
Nondurable goods stores
do
Ch arge accounts
do
Installment accounts
do
20,630
7,140
13,490
8,677
11,953
19,378
6,941
12,437
8,317
11,061
' 3, 028
'2,238
'401
' 3, 072
'173
'8,693
'505
'67
181
'140
'327
'202
' 19,566 19,704
' 7, 151 7,164
' 12,415 12,540
'8,223 8,258
' 11,343 11,446
' 19,824 19,919
7,029
'7,069
' 12,755 12, 890
' 8, 187 8,270
11,649
r 11,637
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total, incl. armed forces overseas
mil.. » 199. 11
201.55
201. 74
201. 93
80,793 82,272 83,792 82, 137 82,477
77,347
78, 737 80,203 78,546 78, 874
74, 372
75, 920 77) 432 75J 939 76*364
72,103 73,325 72,103 72,596
70,528
3,844
3,817
4,107
3,836 3,767
2,817
2,772 2,606 2,511
2,975
' Revised.
» As of July 1.
J See corresponding note on p. S-ll (beginning Aug. 1968,
accounts receivable data reflect introduction of the new sample; no comparable data are
available for earlier periods).
9 Includes data not shown separately.
§ Except depart-
82,702
79, 185
76*609
73,001
3,607
2,577
LABOR FORCE
Labor force, total, 16 years of age and over
C ivilian labor force
Employed, total
Nonagricultural employment
Agricultural employment
_
Unemployed (all civilian workers)
thous..
do
.do
do
do. _
do. ...
i 201. 15
201. 35
202.10
202.25
202.40
202.55
203.22
203.40
203.6
84,5'
83,085 85,880 86,318 86,046
80,9!
79,563 82, 356 82, 797 82, 516
78*. 0'(
77,' 264 78J 956 79*. 616 79,646
74, 3
73*, 370 74*, 589 75,460 75, 669
3,65
3,894
4,367 4,155 3,977
2,9.
2,299 3,400 3,182 2,869
ment stores mail order.
f Series revised to reflect benchmarking to the levels of the 1966
and 1967 Annual Retail Trade Reports and to conform to the definitions of the new retail
sales sample; revised data back to 1961 appear on p. 22 ff. of the Nov. 1968 SURVEY.
82,618
79, 118
76,700
73, 421
3,279
2,419
81, 711
78,234
75*, 358
72,192
3,165
2,876
82, 579
79,104
76* 181
72,896
3,285
2,923
82, 770
79,266
76* 520
73,193
3,327
2,746
83,137
79 621
77*079
73*, 471
3,607
2,542
SURVEY OF CUEEENT BUSINESS
October 1969
1967
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
|
Annual
S-13
1969
1968
196&
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept."
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
LABOR FORCE— Continued
Seasonally Adjusted
Civilian labor forcet
Employed, total
Nonagricultural employment
Agricultural employment
thous
_ _ do
do
do
78,749
75, 973
72,222
3,751
78,847
76,000
72,349
3,651
78,800
76,002
72,477
3,525
79,042
76,388
72,682
3,706
79,368
76,765
72,923
3,842
79,874
77,229
73,477
3,752
80,356
77,729
73,848
3,881
80,495
77, 767
74,035
3,732
80,450
77,605
73,941
3,664
80,071
77,265
73,460
3,805
80,433
77, 671
73,966
3,705
80,756
77,874
74,323
3,551
81, 054
78, 187
74,553
3,634
81, 359
78, 127
74,669
3,468
449
412
2,776
400
2,847
373
2,798
381
2,654
348
2,603
322
2,645
316
2,627
346
2,728
355
2,845
393
2,806
409
2,762
383
2,882
419
2,867
382
3,232
389
3.8
2.3
4.2
12.9
3.6
2.2
3.8
12.7
3.5
2.1
3.7
12.3
3.6
2.2
3.9
12.5
3.6
2.2
3.7
12.3
3.4
2.0
3.5
12.2
3.3
1.8
3.5
12.7
3.3
2.0
3.5
11.7
3.3
1.9
3.5
11.7
3.4
1.9
3.5
12.7
3.5
2.0
3.8
12.8
3.5
2.0
3.7
12.5
3.4
2.0
3.7
11.6
3.6
2.2
3.7
12.2
3.5
2.1
3.8
12.5
4.0
2.4
4.2
13.2
Married men*
Negro and other races *
White workers*...
...
1.8
7.4
3.4
1.6
6.7
3.2
1.6
6.4
3.2
1.6
6.6
3.2
1.6
7.3
3.1
1.6
6.5
3.0
1.4
6.0
3.0
1.4
6.0
3.0
1.4
5.7
2.9
1.4
6.0
3.1
1.5
6.9
3.1
1.5
6.5
3.1
1.5
7.0
3.0
1.6
6.4
3.2
1.5
6.5
3.2
1.7
6.8
3.6
Occupation: White-collar workers*
Blue-collar workers*
Industry (nonagricultural) :
Private wage and salary workers*
Construction*
Manufacturing*
Durable goods*
2.2
4.4
2.0
4.1
2.0
4.2
2.0
4.1
2.0
4.0
2.0
3.9
1.9
3.6
1.9
3.8
1.9
3.6
2.0
3.7
1.8
4.1
1.9
3.8
2.1
3.7
2.2
3.8
2.2
3.8
2.2
4.4
._
3.9
7.3
3.7
3.4
3.6
6.9
3.3
3.0
3.6
6.9
3.3
3.0
3.6
5.7
3.3
3.1
3.6
6.0
3.4
3.2
3.4
6.5
3.2
3.1
3.3
5.4
2.8
2.6
3.4
5.5
3.2
2.7
3.3
5.5
2.9
2.4
3.4
6.2
3.1
2.7
3.6
6.2
3.2
3.0
3.5
5.5
3.1
2.9
3.5
5.0
3.3
3.3
3.6
5.7
3.2
3.2
3.6
7.4
2.9
2.3
4.0
7.6
3.7
3.3
EMPLOYMENT
Employees on payrolls of nonagricultural estab.ifl
Total, not adjusted for seasonal variation. -thous..
65, 857
67, 860
68,205
68,610
68,960
69, 248
69, 805
68,196
68,403
68,894
69, 462
69,929
70, 980 ' 70,347 ' 70,516
70,826
65, 857
613
3,208
19, 447
11, 439
67,860
610
3,267
19,768
11, 624
68,088
620
3,272
19,800
11, 634
68,195
622
3,286
19, 820
11,646
68,427
573
3,305
19, 840
11,649
68,664
622
3,313
19, 897
11,700
68,875
623
3,330
19,958
11, 744
69, 199
626
3,338
19, 999
11, 819
69, 487
628
3,366
20,061
11,839
69, 710
626
3,374
20, 122
11,881
69, 789
624
3,363
20,111
11,868
70,013
622
3,407
20,118
11,874
70,300
622
3,466
20,198
11, 931
317
597
455
628
1,322
1,363
1,970
342
598
474
637
1,314
1,394
1,961
350
599
476
644
1,308
1,393
1,955
346
599
478
645
1,302
1,401
1,960
333
600
480
649
1,294
1,411
1,966
347
600
484
652
1,300
1,420
1,974
351
603
485
658
1,313
1,426
1,971
349
606
490
664
1,321
1,437
1,981
346
607
494
666
1,330
1,444
1,997
346
608
494
664
1,332
1,451
1,993
343
604
496
658
1,326
1,450
1,999
342
610
496
656
1,333
1,453
1,999
337
332
'327
607
'600
'599
496
••491
'493
662
••658
'658
1,347 r 1, 348 ' 1, 360
1,456
1,456 '1,469
2,010 '2,007 '2,006
325
599
497
660
1,372
1,476
2,024
1,959
1,949
451
428
8,008
1,786
87
959
1,398
679
1,048
1,001
183
516
351
1,982
2,028
460
435
8,144
1,781
84
991
1,408
693
1,063
1,026
187
557
356
1,983
2,027
462
437
8,166
1,781
87
995
1,406
695
1,066
1,028
187
564
357
1,984
2,035
462
434
8,174
1,782
84
994
1,414
696
1,065
1,031
186
565
357
1,982
2,034
463
437
8,191
1,782
83
994
1,416
700
1,070
1,034
187
568
357
1,988
2,031
465
439
8,197
1,781
82
997
1,412
704
1,072
1,038
188
567
356
1,996
2,031
465
445
8,214
1,789
81
998
1,412
706
1,074
1,040
189
571
354
2,013
2,045
466
447
8,180
1,792
84
1,000
1,424
709
1,076
1,040
128
573
354
2,026
2,020
468
441
8,222
1,801
82
999
1,409
713
1,077
1,044
170
577
350
2,036
2,042
470
445
8,241
1,793
83
995
1,417
714
1,078
1,045
187
579
350
2,046
2,029
472
445
8,243
1,795
81
991
1,425
710
1,078
1,044
190
579
350
2,058
2,009
474
444
8,244
1,793
82
987
1,426
714
1,075
1,046
190
581
350
2,063
2,035
473
445
8,267
1,789
81
990
1,429
717
1,083
1,055
191
584
348
'2,074
' 2, 182
'474
'444
' 8, 259
' 1, 800
'85
'980
1,415
'718
' 1, 089
' 1, 052
190
'585
'345
2,080
2,075
474
445
8,263
1,814
83
977
1,414
718
1,092
1,050
190
582
343
4,261
13,606
3,525
10, 081
4,313
14, 081
3,618
10,464
4,327
14,154
3,633
10, 521
4,333
14, 198
3,646
10, 552
4,341
14, 265
3,660
10, 605
4,352
14, 291
3,669
10, 622
4,360
14, 271
3,678
10, 593
4,353
14, 412
3,701
10. 711
4,373
14,468
3,714
10,754
4,399
14, 508
3,726
10, 782
4,439
14,533
3,737
10, 796
4,444
14,609
3,758
10,851
4,467 '4,483 4,482
14, 665 ' 14,671 ' 14,693
3,774 3,773 ' 3, 775
10,891 ' 10,898 ' 10,918
4,478
14,686
3,782
10, 904
3,225
10, 099
11, 398
2,719
8,679
3,383
10, 592
11, 846
2,737
9,109
3,399
10, 625
11, 891
2,743
9,148
3,414
10,635
11, 887
2,721
9,166
3,433
10, 721
11, 949
2,708
9,241
3,453
10, 787
11, 949
2,709
9,240
3,463 3,490
10,838 10,900
12, 032 12, 081
2,724 «2,760
9,308 « 9, 321
3,502
10,967
12, 122
2,767
9,355
3,515
.11, 034
12, 132
2,759
9,373
3,531
11,044
12, 144
2,758
9,386
3,541
11,065
12,207
2,754
9,453
3,557
11, 066
12, 259
2,790
9,469
'3,582
' 11,106
' 12,166
' 2, 752
' 9, 414
3,595
11, 167
12, 166
2,742
9,424
14,308
14, 505
14,581
14,758
14, 731
14, 741
14, 701
14, 584
14,644
14,604
14, 624
14,923 ' 14,665 ' 14,994
15, 080
Unemployed (all civilian workers)
do
Long-term, 15 weeks and over. .
do
Rates (unemployed in each group as percent
of total in that group) :J
All civilian workers
Men, 20 years and over
Women, 20 years and over.
Both sexes, 16-19 years
Seasonally Adjusted
Total
Mining
Contract construction.
Manufacturing.
Durable goods...
O rdnance and accessories
Lumber and wood products. _
Furniture and
fixtures
Stone, clay, and glass products
Primary metal industries.
Fabricated metal products
Machinery , except electrical
_
thous
...do
do. .
do
do
do
do
do
do
do
..do
do
Electrical equip, and supplies
do.
Transportation equipment
do
Instruments and related products
do
Miscellaneous manufacturing ind
do
Nondurable goods.
do
Food and kindred products
do
Tobacco manufactures
do
Textile mill products
.
do
Apparel and other textile products.. -do
Paper and allied products
do
Printing and publishing _
do
Chemicals and allied products _
do..
Petroleum and coal products.. _
do
Rubber and plastics products, nee. . -do
Leather and leather products
do
Transportation, communication, electric, gas,
and sanitary services. _
thous
Wholesale and retail trade..
do
Wholesale trade
..
do
Retail trade
do
Finance, insurance, and real estate
do
Services..
do
Government
do
Federal..
_
do
State and local ...
do
Production workers on manufacturing payrolls:
Total, not seasonally adjustedtl
thous..
'
14,509
'70247
••629
r 3, 434
' 20,164
' 11,912
' 2, 070
' 2, 032
'471
'447
' 8, 252
' 1, 787
81
988
'1,423
716
' 1, 084
'1,054
191
'585
'343
'3,568
' 11,067
' 12,231
2,777
'9,454
' 70,405 70,398
'630
626
' 3, 401 3,390
' 20,345 20,290
' 12,086 12, 027
Seasonally Adjusted
Totalf-...
thous
14, 308
14,505 14, 519 14, 533 14,545 14, 594 14,635 14,684 14, 731 14, 771 14, 739 14, 740 14,811 ' 14,772 ' 14,943 14, 849
8,742
8,505 8,536
Durable goods.
_
do
8,465 8,462
8,606
8,628 8,654 8,634 8,630 8,687 '8,668 '8,834
8,364
8,456 8,450
180
'183
188
187
192
195
197
193
195
183
195
195
Ordnance and accessories. ._
do
196
174
192
197
519
528
'520
'519
520
530
524
525
Lumber and wood products
. __do
519
528
519
527
520
528
519
519
413
'410
411
412
400
410
'408
Furniture and
fixtures
do
410
413
395
402
397
407
375
392
394
532
530
'526
526
526
Stone, clay, and glass products
do
524
530
535
529
522
519
534
537
500
510
518
1,097
1,076 '1,077 '1,087
1,062
Primary metal industries
do
1,034
1,031
1,044
,057
1,027
1,063
1,060
1,058
1,051
1,046
1,037
1,134
1,122 ' 1, 122 ' 1, 132
1,121
Fabricated metal products do
1,100
1,121
1,095
,118
1,079
1,089
1,115
1,054
1,109
1,073
1,075
1,377 ' 1, 369 ' 1, 369
1,381
Machinery, except electrical.
do
1,366
,370
1,354
1,370
1,336
1,341
1,346
1,363
1,359
1,369
1,341
1,333
1,384
1,379 '1,388 ' 1, 386
1,381
Electrical equipment and supplies
do .
1,324
1,364
,369
1,321
1,330
1,323
1,344
1,355
1,322
1,324
1,324
1,465
1,434 ' 1, 430 '1,583
1,399
Transportation equipment
do
,420
1,434
1,430
1,432
1,426
1,427
1,439
1,439
1,371
1,433
1,428
292
292
'292
'291
Instruments and related products
do
294
292
292
286
289
282
287
287
284
284
285
288
347
348
'350
'347
Miscellaneous manufacturing ind
do
347
341
343
345
346
349
348
351
341
342
351
338
6,107
Nondurable goods
do
5,944
6,099 6,078 6,103 6,117 6,105 6,110 6,124 ' 6, 104 '6,109
6,049 6,069
6,068 6,083 6,089
1,228
'1,209
Food and kindred products
do_-._
1,201
'
1,
197
1,206
1,194
1,205
1,194
1,202
1,215
1,193
1,208
1,187
1,191
1,192
1,205
'72
69
Tobacco manufactures
do
69
68
69
70
68
72
70
69
69
69
74
74
71
71
861
'864
Textile mill products.—
do
873
873
880
875
871
880
883
883
850
883
885
882
881
878
1,242
1,255 ' 1, 248 '1,244
Apparel and other textile products
do
1,255
1,252
1,245
1,254
1,246
1,242
1,249
1,243
1,238
1,237
1,241
1,247
r
Revised.
p Preliminary.
* New series. Morithly data for earlie r years aire availalDie.
HBe ginning i n the July 1969 Si7RVEY, p ayroll emiploymerit and eairnings da ta reflect, adjusti Effective with the Mar. 1969 SURVEY, labor fore 3 data refl ect new seasonal f actors; c<)mmerit to more recent b enchmai ks and iupdated seasonal factors; compara ble earlier data,
parable data for earlier months appear in the Feb. a ad Mar. 1969 issues of Empl syment a nd
except man-ho ITS and raan-houi indexes will api)ear in B LS Bullc)tin 1312--7, EMPL OYMENT
Earnings (USDL, Bureau of Labor Statistics).
A N D E ARNINGS , UNITEI> STATES , 1909-69, to be av ailable sc>on from the Gov 't. Print ng Off.,
tEffective with the Sept. 1967 SURVEY, additionalseries (utlemploymtent rates , seasona Hy
«Beginn ing Jan. 1969, fe deral en iploymeiit inclucles abou t 39,000
Wash, D.C. 550402.
adjusted production workers, hours, man-hours anc man-hou r indexes private sector da ta,
civilia n technk ians of tlle Natio nal Guar dwho w ere trans ferred fro m State to federa 1 status.
and spendable earnings) are shown; these are not in the 1967 edition of : BUSINESS STATIST cs.
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1969
1968
| 1968
Aug.
Annual
October 1969
Sept.
Oct.
Dec.
Nov.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.*
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT— Continued
Seasonally Adjusted
Production workers on manufacturing payrolls—
Continued
Nondurable goods industries— Continued
Paper and allied products._ _ thous
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
526
662
592
115
397
304
537
665
608
118
431
306
540
667
611
118
437
307
540
664
611
117
437
306
543
668
613
119
440
307
546
670
616
119
439
307
549
671
617
119
441
305
550
673
617
73
444
306
555
672
620
101
448
302
555
673
620
116
449
301
549
672
617
118
449
300
554
669
617
118
451
300
556
674
623
119
455
299
555
••675
620
119
••455
'294
'557
'676
'620
118
'454
'295
556
678
613
117
450
293
42.6
37.7
40.6
42.7
37.4
40.7
3.4
41.2
3.5
41.7
40.2
40.4
41.6
41.1
41.5
42.6
40.2
41.4
41.3
39.4
3.6
41.4
3.8
41.5
40.6
40.6
41.8
41.6
41.7
42.1
40.3
42.2
40.5
39.3
42.8
37.5
40.7
40.7
3.6
41.3
3.6
41.7
40.8
40.7
41.9
40.3
41.7
42.0
40.5
42.2
40.6
39.3
42.9
37.5
41.2
41.0
3.7
41.6
3.9
41.7
41.0
40.8
42.1
41.4
41.9
42.3
40.7
42.3
40.6
39.6
41.2
37.5
41.1
40.9
3.7
41.6
3.9
42.0
40.7
40.8
42.1
41.4
42.1
42.3
40.4
42.5
40.6
39.4
43.2
36.2
40.9
40.8
3.8
41.6
4.0
41.4
40.6
40.5
41.8
41.4
42.1
42.3
40.3
42.3
40.7
39.2
43.3
37.6
41.1
40.8
3.7
41.3
3.9
41.3
41.1
40.5
42.0
41.6
41.7
42.2
40.2
41.8
40.5
39.0
43.3
38.2
40.4
40.6
3.8
41.3
3.8
40.0
40.0
40.6
41.8
41.7
41.8
42.5
40.4
41.4
40.7
39.2
43.3
38.0
40.0
40.1
3.5
40.9
3.8
40.3
40.8
40.1
42.2
41.6
41.2
42.3
39.7
41.6
39.7
37.6
42.8
37.9
40.7
40.9
3.7
41.5
3.9
40.8
40.9
40.7
42.3
41.9
41.9
42.7
40.7
41.6
40.7
39.0
43.8
38.0
40.5
40.8
3.7
41.4
3.8
40.9
40.2
40.9
42.0
41.8
41.8
42.6
40.9
41.5
40.8
39.5
43.4
38.1
40.7
40.7
3.6
41.4
3.8
40.6
40.3
40.9
42.1
41.7
41.6
42.6
40.6
41.1
40.8
39.1
42.0
37.6
40.9
40.7
3.6
41.3
3.9
40.9
40.2
40.7
41.9
41.7
41.8
42.5
40.6
41.6
40.9
39.2
"42.6
'37.5
40.5
40.7
3.6
41.2
3.8
'40.2
'39.7
40.1
'41.7
41.5
'41.6
42.2
40.3
'42.3
'40.9
'39.1
'43.1
37.9
40.6
40.6
'3.7
41.3
'3.8
40.5
'40.0
'40.4
'42.0
'42.1
41.4
'42.5
'40.4
'41.2
'41.0
'38.9
42.9
38.2
40.9
40.7
3.5
41.4
3.7
40.7
40.2
40.0
42.2
42.1
41.3
42.3
40.4
41.5
41.0
39.0
do
do
do
do
do
do
39.7
3.1
40.9
38.6
40.9
36.0
39.8
3.3
40.8
37.8
41.2
36.1
39.9
3.4
41.0
38.7
41.2
36.1
40.0
3.4
40.8
38.2
41.4
36.4
39.9
3.3
40.8
37.7
41.2
36. 3
39.7
3.4
40.6
37.5
41.1
36.0
39.9
3.4
40.9
37.1
41.2
36.1
39.8
3.6
40.6
37.2
40.6
36.2
39.1
3.2
40.7
36.6
39.9
35.2
39.9
3.4
40.9
36.5
40.9
36.0
39.8
3.4
40.9
36.4
41.1
36.0
39.8
3.4
40.8
38.1
41.0
36.1
39.8
3.4
40.7
39.5
41.2
36.2
39.7
3.4
40.6
'38.2
'41.2
'36.0
39.6
'3.4
'40.9
'37.2
'40.8
36.0
39.7
3.2
41.3
37.0
40.7
35.9
do
do
do
do
do .
do
42.8
38.4
41.6
42.7
41.4
38.1
42.9
38.3
41.8
42.5
41.5
38.3
43.0
38.5
41.8
42.2
41.5
38.0
43.2
38.5
41.9
42.5
41.6
38.1
43.1
38.6
41.9
42.6
41.6
38.6
43.0
38.4
41.9
42.6
41.4
37.9
43.2
38.5
41.9
42.7
41.5
37.8
43.5
38.4
41.9
41.8
41.5
37.6
42.5
37.9
41.7
42.6
40.7
35.3
43.2
38.3
41.7
43.2
41.4
37.6
43.4
38.3
41.6
42.9
41.4
37.7
43.0
38.4
41.8
43.0
41.4
37.6
42.9
38.4
41.8
42.2
41.3
37.4
43.0
38.5
'41.9
'42.9
'41.2
'37.0
'42.8
38.4
41.8
'42.7
'40.9
'36.8
42.7
38.3
41.5
42.7
40.9
37.2
do
do
do
do
36.5
40.3
35.3
37.0
36.0
40.1
34.7
37.0
36.2
40.2
34.8
37.1
36.1
40.2
34.7
37.1
35.9
40.1
34.5
37.1
35.8
40.0
34.5
36.9
35.7
40.0
34.3
37.0
35.8
40.1
34.4
37.2
35.7
40.1
34.2
37.1
35.7
40.1
34.3
37.1
35.6
40.2
34.1
37.1
35.7
40.1
34.3
37.0
35.7
40.0
34.2
37.2
35.7
40.0
34.2
'37.0
35.8
'40.3
'34.3
37.0
35.6
40.4
34.1
36.9
Seasonally Adjusted
Man-hours in nonfann estab., all employees,
seasonally adjusted, annual ratefl
bil. man-hours ..
131. 45
134. 62
135.57
135.75
135.89
135.83
136.19
137. 07
137.08
138.44
138.42
139. 15
139. 43 '139.45 '139.94
139.84
Man-hour indexes (aggregate weekly), industrial
and construction industries, totaltl
1957-59=100..
Mining.
do
Contract construction
do
Manufacturing.
do
Durable goods.
do
O rdnance and accessories
do
Lumber and wood products
do
Furniture and
fixtures
do
Stone, clay, and glass products
do .
113.7
79.4
111.1
115.9
121.6
204.5
93.1
121.8
106.3
115.4
78.6
112.0
117.9
123.4
223.8
93.9
128.0
109.2
115.5
80.4
112.2
117.9
123.0
231.1
94.6
129.0
111.0
116.2
80.7
112.9
118.7
124.1
228.8
95.0
129.6
111.8
116.0
70.3
113.8
118.7
124.1
216.3
94.2
130.2
112.4
115.9
81.3
110.0
118.7
124.4
227.2
94.2
130.4
112.0
116.9
81.7
115.3
119.0
124.5
226.6
96.0
130.8
113.9
117.4
82.0
117.7
119.1
125.3
220.6
94.2
132.9
114.2
116.8
82.5
118.0
118.4
124.9
221.1
95.9
132.3
115.9
118.3
81.1
117.7
120.3
126.8
226.2
96.3
134.2
115.7
118.1
82.8
117.4
120.0
126.3
222.1
94.2
135.9
113.6
118.1
81.7
119.3
119.7
125.8
219.3
95.3
135.6
113.3
118.6
78.9
119.5
120.4
126.9
216.3
94.7
134.6
114.0
'118.0
'81.4
' 117. 9
' 119. 8
' 126. 2
' 211. 5
'92.1
' 131. 6
' 112. 2
' 119. 0
'82.5
117.8
121.1
' 128. 6
'208.6
'92.6
' 133. 2
' 113. 0
118.6
81.6
118.6
120.4
127.3
206.1
93.0
132.9
114.4
' 113. 2
' 132. 2
'136.3
'150.4
' 121. 7
' 130. 4
' 111.8
' 115. 9
' 132. 7
' 137. 3
'150.6
131.2
' 131. 2
' 110. 2
117.0
132.7
137.8
150.4
122.3
131.2
110.5
HOURS AND MAN-HOURS
Seasonally Adjusted
Average weekly gross hours per production worker
on payrolls of nonagricultural estab.ifl
Mining
hours
Contract construction
do
Manufacturing: Not seasonally adjusted
do
Seasonally adjusted
do. .
Overtime hours
do
Durable goods _
do
Overtime hours
do
Ordnance and accessories.
do
Lumber and wood products
do. ..
Furniture and
fixtures.
do
Stone, clay, and glass products
do
Primary metal industries _
do
Fabricated metal products
do
Machinery, except electrical
do
Electrical equipment and supplies
do.. .
Transportation equipment
do
Instruments and related products
do _
Miscellaneous manufacturing ind—
do
Nondurable goods
Overtime hours
Food and kindred products.
Tobacco manufactures
...
Textile mill products
Apparel and other textile products
Paper and allied products .
Printing and publishing
Chemicals and allied products
Petroleum and coal products.
Rubber and plastics products, nee
Leather and leather products
Wholesale and retail trade
Wholesale trade..
Retail trade
Finance, insurance, and real estate
Primary metal industries
Fabricated metal products.
Machinery, except electrical
Electrical equipment and supplies
Transportation equipment
Instruments and related products
Miscellaneous manufacturing ind
do
do
do
do
do
do
do
110.3
123.9
137.4
143.0
114.2
127.4
108.9
110.2
126.9
133.0
143.5
121.7
126.0
109.7
105.9
126.7
132.1
144.2
121.3
126.5
109.8
108.5
128.1
133.4
144.8
122.5
126.6
110.3
107.7
129.9
133.8
143.5
122.6
127.1
110.4
108.1
130.6
135.1
143.5
121.7
127.8
110.5
110.0
129.9
134.0
143.8
120.0
127.5
111.8
111.0
131.3
136.3
146.0
119.9
128.5
112.4
111.5
130.1
136.7
144.7
119.4
125.7
106.3
112.9
133.0
137.3
149.3
119.9
130.2
111.2
111.9
132.4
137.7
150.6
118.6
130.6
112.3
112.2
132.1
137.3
150.8
115.7
131.5
110.8
113.7
132.8
138.1
150.6
120.0
130.9
111.4
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
do
do
do
do
do
108.6
96.2
86.8
102.7
116.8
110.7
96.2
82.2
106.7
117.5
111.3
96.8
87.3
107.3
117.5
111.5
96.4
83.8
107.7
119.0
111.7
96.5
80.5
107.1
118.9
111.3
96.0
80.0
107.2
117.5
111.8
97.3
78.0
107.5
117.7
111.0
96.9
80.5
106.1
119.0
109.8
97.9
77.0
104.1
114.3
111.8
97.8
76.8
106.3
117.6
111.7
97.6
75.5
106.2
118.2
111.8
97.4
80.2
105.5
118.8
112.1 ' 111. 5 '111.4
96.8 '96.2 '97.9
83.1 '79.2 '81.6
106.2 ' 106. 2 ' 104. 1
119.1 ' 117. 8 '117.4
111.4
100.4
77.8
103.5
116.9
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products.
Rubber and plastics products, nee
Leather and leather products
do
do
do
do
do
do
114.9
116.7
118.6
80.8
144.4
94.8
117.7
117.0
122.4
83.0
157.2
96.0
118.5
118.0
123.0
82.2
159.5
95.5
119.1
117.5
123.3
82.1
159.9
95.4
119.4
118.5
123.7
83.7
161.0
97.0
119.8
118.2
124.3
83.7
159.8
95.2
121.0
118.7
124.5
83.9
161.0
94.3
122.1
118.8
124.5
50.4
162.0
94.1
120.4
117.0
124.5
71.0
160.4
87.2
122.4
118.5
124.5
82.8
163.5
92.6
121.6
118.3
123.6
83.6
163.5
92.5
121.6
118.1
124.2
83.8
164.2
92.3
121.7
121.8
118.9 ' 119. 4
125.4 ' 125. 1
82.9 '84.3
165.3 '164.9
91.5 '89.0
' 121. 7
' 119. 3
'124.8
'83.2
'163.3
'88.8
121.2
119.3
122.5
82.5
161.9
89.2
135. 89
154.95
114. 90
143. 05
164.56
122. 51
144. 62
170. 72
121. 69
146. 45
173. 76
125. 25
138. 86
173. 57
125. 77
148. 52
159. 35
126. 97
149. 60 148.54 154.78
166. 90 171. 86 174. 46
124. 80 127. 39 127.58
note, b ottom of p. S-13.
155.30
179.92
128.61
WEEKLY AND HOURLY EARNINGS
Not Seasonally Adjusted
Average weekly gross earnings per production
worker on payrolls of nonagricultural estab.itl
Mining
_
dollars..
Contract construction
do
Manufacturing establishments.
do
r
Revised.
* Preliminary.
tSee corresponding note, bottom of p. S-13.
n
151. 12 150. 15
168. 81 168.09
127. 82 126. 05
See corre spondinjI
150.88 '154.30 '156.96
181. 34 '183.91 '187.77
129.65 129.20 '129.92
157. 25
192.27
132. 11
October 1969
SURVEY OF CURKENT BUSINESS
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1969
1968
1967 | 1968
Annual
S-15
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept. *
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
WEEKLY AND HOURLY EARNINGS— Con.
Not Seasonally Adjusted— Continued
Avg. weekly gross earnings per prod, worker on
manufacturing payrolls— Continued tl
Durable goods...
dollars..
Ordnance and accessories
do.
Lumber and wood products
do
Furniture and
fixtures
do
Stone, clay, and glass products
do...
Primary metal industries..
Fabricated metal products.
Machinery, except electrical
Electrical equip, and supplies
Transportation equipment
Instruments and related products
Miscellaneous manufacturing ind
Nondurable goods
Food and kindred products
Tobacco manufactures _
Textile mill products.
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products.
Petroleum and coal products.
Rubber and plastics products, nee
Leather and leather products
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate
123.60
132. 61
95.27
94.13
117. 31
132. 07
135. 71
104.34
100.28
124. 98
130.29
134.05
107.53
102. 18
128. 05
135. 01
137. 85
109.03
104.33
129.93
135. 43
140. 10
107.68
104.58
129. 93
136.36
138. 86
105. 73
103. 48
127. 49
137. 61
141. 28
107. 16
105. 32
128. 21
136.04
135. 74
102.56
101.60
125.36
135. 05
135.54
104.40
100.84
126. 38
137. 45
137. 23
107. 86
103. 42
129. 27
137.20
138.11
106.13
103. 46
131. 57
138.69
138.85
109.08
105.04
134. 41
139.44 137.83
140. 76 ' 136.91
110. 30 ' 108.78
106.90 104. 01
134. 41 ' 133.24
139.33
141.45
112.31
107.98
136.43
142.27
144.38
113. 40
108. 00
138. 35
do
do
do
do
do. . .
do
do . _
137. 27
123. 67
135. 89
111.35
142. 42
117. 71
92.59
147.68
131. 77
141.46
118.08
155. 72
120. 69
98.25
142. 36
132,09
139.03
117. 97
150.70
120.80
98.11
148.68
136. 43
143.40
120.66
160.07
123. 22
99.90
147. 24
136.53
145.09
120.99
162. 92
123.22
100.15
149. 14
137. 05
145.94
122. 10
165.02
124. 75
100.19
152. 67
136.50
148. 17
123. 62
164.86
125. 97
101. 14
154.66
134.96
147. 55
122. 51
160.19
124. 74
100.62
153.14
133.01
148. 82
120. 69
157.03
123. 07
98.40
155. 82
136. 45
151. 36
123.42
157. 38
126. 17
102.05
157. 45
136.21
150.80
122.92
157. 44
125.96
102.44
157. 13
138. 03
151. 66
124.34
158.18
127. 39
102. 96
157. 92
139. 86
151. 66
125.36
160.58
129.15
103.88
160.90
138.20
149.58
124.93
159.17
129.34
102.57
161. 70
141. 20
152. 28
126 67
165.90
131. 43
103.88
do
do
do
do
do
102 03
107. 98
87 62
84.25
73.08
109 05
114. 24
94 12
91.05
79.78
110 55
114.96
95.55
92.51
81.40
112 03
116. 48
94 49
94.02
82.26
111 88
115. 21
92 58
94.21
82.63
111 72
116.28
94.50
93.98
81.36
113 08
117.96
96.14
94.85
81.36
111 50
117. 27
93.03
92.11
81.40
110 48
116. 40
95.21
90.57
79.90
113 15
118. 08
94.70
93.66
83.13
113. 08
117. 89
95.94
92.92
81.85
114. 34
119. 77
103. 02
94.07
82.67
115. 31 116 22 116.51
120.25 ' 122.36 121.01
111. 32 f r104.43 '94.13
95.63
95. 65 '97.34
83.49 ' 82. 21 '84.08
117.60
124. 20
96.00
98.16
84.01
do
do
do
do
do
do .
122. 84
125.95
128.96
152. 87
113. 44
78.87
130. 85
133. 28
136.27
159. 38
121. 18
85.41
132. 62
135. 45
136. 86
157. 78
122. 30
85.41
135.60
137. 35
138.60
162. 49
125. 46
85.43
134.54
137. 39
138. 69
160.98
125. 16
86.56
134. 78
136. 32
139. 86
161.88
124.68
86.03
136. 90
139. 65
141. 46
159.56
126. 12
88.32
135. 14
136.06
140. 19
152. 40
124. 73
87.46
132. 19
136. 10
139. 86
161. 38
121.30
83.18
135.45
139.03
140. 95
168.67
123.30
87.28
135. 99
138.68
142. 46
174. 10
123. 82
85.78
137. 17
140.18
143. 72
174.50
125. 25
87.66
138.46
141. 31
144. 63
170.00
125. 97
88.83
140. 18 ' 141.04
' 142.82
145. 18
' 171.63
' 126.69
' 87. 19
142.23
144. 75
146. 02
177.10
130.00
87.82
do
do
do
do
81.76
116 06
70 95
95.46
86.40
122 31
74 95
101. 75
88.80
122 82
77 33
102. 40
88
124
75
103
87
123
75
103
11
82
46
51
87.33
124 40
75.70
103.69
87.96
125 74
76 47
104.99
88.40
124 80
76 16
106.76
88.60
126. 08
76.39
107. 59
88.85
126 40
76.61
107. 22
88.96
127.20
76.73
106.85
89.92
128.00
77.63
107. 30
91.55
129.92
79.35
108.70 f
93.08 ' 93. 33
130 17 ' 131.22
80.96 81.19
107.96 ' 108.04
92.20
132. 51
79.11
107. 46
3.19
4 11
2 83
2 72
3 00
2.88
3.18
2.37
2 33
2.82
3.35
4 40
3 01
2 88
3 19
3.05
3.27
2.57
2 47
2.99
3.34
4 40
2 99
2 86
3.17
3.03
3.23
2.61
2 48
3.02
3.39
4 49
3 04
2 90
3 23
3.07
3.29
2.64
2 52
3.05
3.33
4 52
3 06
2 92
3 24
3 09
3.32
2.62
2 52
3.05
3.47
4.54
3 08
2 94
3.27
3.11
3.33
2.63
2 53
3.05
3.49
4 55
3 11
2 97
3 30
3.15
3.38
2.62
2 55
3.06
3.50
4.58
3 12
2 98
3.31
3.16
3.36
2.59
2 54
3.05
3.52
4.56
3 12
3.00
3.31
3.17
3.38
2.61
2.54
3.06
3.52
4.62
3 13
3.00
3.32
3.17
3.38
2.65
2.56
3.10
3.55
4.64
3 15
3.02
3.33
3.19
3.41
2.64
2.58
3.14
3.57
4.71
3 16
3.03
3.35
3.20
3.42
2.68
2.60
3.17
3.55
4.71
3.17
3.03
3.36
3.21
3.45
2.71
2.62
3.17
3.58
4.74
3 19
3 06
3.37
3.23
3.44
'2.74
2 62
3.18
'3.60
'4.79
'3 20
'3.06
'3.39
'3.24
'3.51
'2.78
' 2 64
'3.21
3.64
4.88
3.23
3.08
3.42
3.26
3.53
2.80
2.66
3.24
Average hourly gross earnings per production
worker on payrolls of nonagricultural estab.rl
Mining
...dollars..
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
08
22
99
23
157.66
' 136.78
' 148.39
122. 98
r
162.66
' 127.17
' 101.38
' 141.31
' 145.53
' 176.14
' 126.07
' 87. 52
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electrical equip, and supplies.
Transportation equipment
Instruments and related products
Miscellaneous manufacturing ind
do...
do
do
do
do
. do
do
3.34
2.98
3.19
2.77
3.44
2.85
2.35
3.55
3.16
3 36
2.93
3.69
2 98
2.50
3.55
3.16
3.35
2.92
3.64
2.99
2.49
3.60
3.21
3 39
2.95
3.74
3 02
2.51
3.60
3.22
3 43
2.98
3.78
3 02
2.51
3.62
3.24
3.45
3.00
3.82
3.05
2.53
3.67
3.25
3.47
3.03
3.87
3 08
2.58
3.70
3.26
3.48
3.04
3.86
3.08
2.60
3.69
3.26
3.51
3.04
3.83
3.10
2.61
3.71
3.28
3.52
3.04
3.82
3.10
2.61
3.74
3.29
3.54
3.05
3.84
3.11
2.62
3.75
3.31
3.56
3.07
3.83
3.13
2.64
3.76
3.33
3.56
3.08
3.86
3.15
2.65
3.79
'3.32
'3.55
3.09
'3.91
3.14
2.64
3.84
'3.33
'3.57
'3.10
'3.93
'3.17
'2.63
3.85
3.37
3.60
3.12
3.95
3.19
2.65
Nondurable goods
Excluding overtime
Food and kindred products
_
Tobacco manufactures -_
Textile mill products.
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products, nee
Leather and leather products
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate
do
do
do
do
do
do .
do
do
do
..do
do
do
do
do
do
do
2 57
2 47
2.64
2 27
2.06
2.03
2.87
3 28
3.10
3.58
2.74
2 07
2 24
2 88
2 01
2.58
2 74
2 63
2.80
2 49
2.21
2.21
3.05
3 48
3.26
3.75
2.92
2 23
2 40
3 05
2 16
2.75
2 75
2 64
2.77
2 45
2.24
2.23
3.07
3 50
3.29
3.73
2.94
2 23
2 40
3 04
2 16
2.76
2 78
2 66
2.80
2 38
2.26
2 26
3.11
3 54
3.30
3.77
2.98
2 26
2 44
3 09
2 19
2.79
2 79
2 67
2.81
2 38
2.27
2 27
3.10
3 55
3.31
3.77
2.98
2 26
2 44
3 08
2 20
2.79
2 80
2 69
2.85
2 52
2.27
2.26
3.12
3 55
3.33
3.80
2.99
2 27
2 46
3 11
2 22
2.81
2 82
2 70
2.87
2 55
2.28
2.26
3.14
3 59
3.36
3.79
3.01
2 30
2 45
3 12
2 21
2.83
2 83
2 72
2.91
2 57
2.28
2.28
3.15
3 59
3.37
3.69
3.02
2 32
2 49
3 12
2 24
2.87
2.84
2.73
2.91
2.63
2.27
2.27
3.14
3.61
3.37
3.87
3.01
2.33
2 51
3 16
2.26
2.90
2 85
2.74
2.93
2.66
2.29
2.29
3.15
3.63
3.38
3.95
3.00
2.34
2 51
3 16
2 26
2.89
2.87
2.76
2.94
2.68
2.30
2.28
3.17
3.64
3.40
4.03
3.02
2.35
2.52
3 18
2.27
2.88
2 88
2.77
2.95
2.74
2.30
2.29
3.19
3.66
3.43
4.03
3.04
2.35
2 54
3 20
2 29
2.90
2.89
2.77
2.94
2.79
2.31
2.30
3.22
3.68
3.46
4.00
3.05
2.35
2 55
3 24
2.30
2.93
2 92
2.80
'2.97
2 77
2.35
'2.29
3.26
'3.68
3.49
'4.04
'3.09
2.34
2.55
3 23
2 30
'2.91
'2.92
2.79
2.93
2.51
2.38
'2.31
3.28
'3.70
3.49
'4.01
'3.09
'2.35
'2.55
'3.24
2.30
'2.92
2.94
2.82
2.95
2.50
2.40
2.34
3.30
3.75
3.51
4.09
3.14
2.38
2.59
3.28
2.32
2.92
3.884
5 528
1 33
i 3 293
4.201
5 956
1 44
13 466
4.280
6 073
4.300
6 102
4.321
6 150
4.343
6 181
4.422
6 228
4.495
6 314
4.657
6 502
4.751
6.738
3 561
3 552
3 599
4.718
6 627
1.58
4.748
6 672
3 641
4.435
6 261
1.59
3 534
4.379
6 202
1 57
3 581
4.422
6 224
3 496
4.310
6 134
1 41
3 501
101 26
87 07
106 75
105 91
108
66
00 QO
109 06
109 22
110 65
108 78
107 82
109 81
87 43
109 95
86 99
110 74
87 33
111 54
87 41
54,459
45, 169
38.0
56, 015
46, 434
37.8
Miscellaneous hourly wages:
Construction wages, 20 cities (ENR)rrf 1
Common labor
$oerhr
Skilled labor
"
do "
Farm, without board or rm., 1st of mo
do _
Railroad wages (average, class !)._.
do
Spendable Weekly Earnings f 1
Spendable average weekly earnings per worker (with
three dependents) in manufacturing industries:
Current dollars § _ .
Constant dollars §
1957-59 dollars
PRIVATE SECTOR SERIESft
Not Seasonally Adjusted
Excludes government employees:^
Employees, total, nonagricultural estab
thous. .
Production or nonsupervisory workers . . do. .
Hrs. (gross), av. weekly: Unadjusted._hours__
Seasonally adj.do
Weekly earnings (gross), average
dollars..
Hourly earnings (gross) , average.
do
530 no
QC OQ
QO IJA
56,802 56,849 56,923
47, 102 47, 177 47, 247
38.3
38.1
37.9
37 9
37 9
37 8
101. 84
107. 73 109. 16 110. 49 110. 29
2.68
2.85
2.85
2.90
2.91
v
e § ~vls£d>
Preliminary.
1 Includes adjustments not distributed by months.
§ Effective Apr. 1968, data reflect income tax surcharge imposed by the Revenue and
Expenditure Control Act.
t See corresponding note, bottom of p. S-13.
H See corresponding note, bottom of p. S-13.
cfWages as of Oct. 1, 1969: Common, $4.823; skilled, $6.767.
OQ C1
on AK
07 a(\
Sfi KQ
111 20 ' 111 75
86 74 ' 86 83
57,139 57,579 56,056 56,159 56,615 57,188 57,623 58,632 ' 58,525 ' 58,853 58, 789
47, 464 47, 874 46, 359 46, 426 46,824 47, 344 47, 732 48,648 ' 48,504 ' 48,810 48, 750
38.0
38.0
37.7
37.6
37.5
38.1 '38.2
37.5
37.2
37.5
37.8
37.8
37.8
37.8 ' 37 8 37.8
37 8
37 5
37.8
37 6
37 6
37 8
109. 50 110. 38 110. 25 110. 11 111. 67 111. 75 113. 48 115. 14 115. 82 ' 116.51 117. 80
3.10
3.04 1 '3.05
3.03
3.01
2.92
2.32
2.94
2.96
2.97
2.98
NOTE t FOR P. S-16—REVISED SERIES. HELP-WANTED INDEX, Jan. 1960July 1968 (1957-59=100): 1960, 117; 117; 113; 111; 109; 107; 102; 101; 97; 94; 92; 89; 1961, 87; 86;
88; 88; 91; 95; 95; 99; 100; 107; 110; 109; 1962, 113; 113; 113; 112; 116; 113; 112; 111; 109; 108; 107;
107; 1963, 108; 108; 109; 109; 108; 108; 111; 109; 110; 112; 111; 113; 1964,116; 115; 117; 121; 122; 127;
129; 128; 130; 130; 134; 134; 1965, 137; 143; 146; 146; 152; 155; 153; 158; 165; 170; 180; 184; 1966, 186;
190; 200; 193; 196; 197; 199; 196; 194; 194; 193; 192; 1967, 191; 189; 184; 185; 184; 184; 181; 187; 187;
187; 187; 188; 1968,191; 191; 194; 197; 197; 198; 203.
SURVEY OF CUREENT BUSINESS
S-16
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
Annual
October 1969
1969
1968
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HELP- WANTED ADVERTISING
Seasonally adjusted index J
1957-59= 100. .
LABOR TURNOVER
Manufacturing establishments:
Unadjusted for seasonal variation: A
Accession rate, total
mo. rate per 100 employees..
New hires
__
do
Separation rate, total
_
__do
Quit
do
Layoff
do
Seasonally adjusted: A
Accession rate total
do
New hires
do
Separation rate, total
--do
Quit
do
Layoff
do
'186
'205
'208
'218
'222
222
'225
'224
230
232
'232
'232
'228
'227
224
4.4
3.3
4.6
2.3
1.4
4.6
3.5
5.7
4.3
5.7
4.5
5.0
4.0
3.8
2.9
3.0
2.2
4.6
3.3
4.5
3.5
4.8
3.8
6.6
5.4
'5.1
'3.9
6.3
4 1
4.9
28
4. 1
2.1
3.9
3.0
4.4
3.4
4.6
2.5
1.2
1.2
3.8
1.6
1.4
2.3
1.2
21
2.4
1.0
2.6
.9
2.7
.9
'.9
26
'2 6
'1.6
J>5.6
"4.2
*6. 1
*>3 9
*>1. 1
4.7
3.6
4.6
4.6
3.5
4.5
2.6
1.1
4.7
3.7
4.2
2.5
1.1
4.9
3.8
4.6
2.7
1.1
4 6
24
12
4.8
3.6
4.6
2.6
1.2
3.7
4.8
1.1
4.6
4.0
4.9
2.7
1.2
4.9
3.9
4.9
2.7
1.0
4.8
3.7
5.0
2.8
1.1
5.0
3.8
4.9
2.7
1.1
4.8
'3.7
4.9
'2.7
1.2
J»4 5
*3.4
*5.0
*2. 8
»1.1
448
183
320
330
420
570
560
112
253
660
181
500
220
500
137
770
800
302
3,370
760
307
3,420
770
280
2,890
1.2
6.0
37
1.2
4.6
3.5
4.9
2.6
1.2
INDUSTRIAL DISPUTES
Strikes and lockouts:
Beginning in period:
5,045
466
Work stoppages
number
4,595
154
2,649
Workers involved
thous__
2,870
In effect during month:
821
Work stoppages
_
number__
360
Workers involved
thous..
4,049
49, 018
Man-days idle during period
do
42,100
EMPLOYMENT SERVICE AND UNEMPLOYMENT INSURANCE
531
5 733
Nonfarm placements
thous
5 817
Unemployment insurance programs:
Insured unemployment all programs
do
1 187 1 023
1 270
State programs:
778
10,463
Initial claims
do
11, 760
955
Insured unemployment, weekly avg_._do
1,205
1,111
Percent of covered employment^
2 5
2 2
19
Unadjusted
Seasonally adjusted
2.2
804
Beneficiaries, weekly average
thous.. 1,017
936
Benefits paid
mil $ 2 092 3 2 031 9 150 0
Federal employees, insured unemployment,
Veterans' program (UCX):
Initial claims
do
Beneficiaries, weekly average
do
Benefits paid
mil. $
Railroad program:
Applications
thous
Insured unemployment weekly avg do
Benefits paid
mil. $
1.1
1.0
2 7
434
327
170
279
130
64
738
349
3,081
741
3,992
617
306
2,431
408
189
1,693
480
255
3.380
500
266
2,590
600
261
2,080
2,740
870
329
3,530
561
540
426
360
392
373
397
454
437
512
469
471
867
861
984
1 252
I 584
1 550
1 384
1 162
970
911
1 088
1 015
604
701
788
1,240
1,491
756
613
1,459
1,300
1,090
906
710
913
1,161
1,172
709
794
1,105
1,021
948
802
182
890
219
852
160
731
18
2.3
30
2 9
26
22
644
126 0
680
122 5
885
170.3
2.0
2.0
1,206
246 1
1,290
234 2
1,190
226 5
1,022
200 1
2.1
687
121 8
800
153 0
744
135 0
20
2.2
788
159 2
832
156 7
10
10
32
16
16
2.1
2.2
2.1
2.1
2.1
2.1
2.1
18
17
18
23
20
1Q
20
21
22
24
94
90
20
17
18
222
23
21
289
32
29
69.2
7 2
19
3.6
23
4 3
4 1
2 8
26
30
27
5.5
11
11
20
69
40.4
20
29
28
5.8
11
17
27
07
35
12
24
4.8
22
35
35
7.4
5
18
3.4
31
H
24
40
39
7.8
5
21
40.6
26
32
26
5.3
g
18
3.4
32
44
41
9.0
139
20
26
27
24
5.2
9
20
4.0
29
38
34
7.2
241
20
22
28
26
5.2
7
18
3.1
27
46.3
26
32
29
5.9
21
2 4
4 420
22, 865
8,342
14, 523
4 464
23,681
9,003
14, 678
4 510
24j 390
10 076
14, 314
4 668
25,305
9,931
15,374
4 ggo
25,964
10, 159
15, 805
4 991
28,191
10, 352
17,839
5 145
29,476
11,350
18,126
10
16
3.1
42
8.0
Q
Of!
17
13
._
2.2
20
40
..
7
13
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
4 317
16,635
4,901
11,634
4 428
20, 497
7,201
13, 296
4 418
20,734
7,091
13,643
4 327
20,264
7,737
12, 527
4 420
20, 839
7 592
13 247
4 389
22,220
7,758
14,462
4,428
20, 497
7,201
13,296
4 370
21, 813
7,873
13, 940
10 848
11 748
11 809
11 722
11 734
11 677
11 748
11 907 ill Q46
5 609
1,506
3,733
6 126
1,577
4,044
6 033
1,450
4,326
6 064
1,479
4,179
6 094
1,551
4,090
6,107
1,583
3,987
6,126
1,577
4,044
Bank debits to demand deposit accounts, except
interbank and U.S. Government accounts,
annual rates, seasonally adjusted:
Total (233 SMSA's)O
bil. $__ 6, 661. 5 8,002.2
New York SMSA
do..._ 2, 921. 2 3, 635. 2
Total 232 SMSA's (except N.Y.)..
do
3, 740. 3 4, 367. 0
6 other leading SMSA's 5do
1 471.8 1 765 5
226 other SMSA's
do
2 268.5 2, 601. 5
6 169
1,630
4,108
6 226
1,680
14,040
12 324 112 344 112 514
6 317
1 663
4,344
6 412
6 484
1,614
1*648
M,284 i 4, 416
12 941 112 854 112 841
6 557
1,594
4,790
6 645
6 605
1,573
1 594
14 655 14,624
8,521.8 8,368.4 8, 599. 8 8, 540. 1 8,752.9 8, 733. 3 8, 832. 8 8,723.3 8, 883. 9 9, 147. 6 9,385.4 9, 242. 7 9, 430. 3
4, 079. 6 3, 857. 8 3, 953. 7 3,925.9 4, 076. 8 3, 896. 7 3, 929. 8 3, 882. 8 3 902.0 4, 097. 6 4, 155. 7 3, 908. 6 4, 148. 4
4,442.2 4, 510. 6 4, 646. 1 4, 614. 2 4, 676. 1 4, 836. 6 4, 903. 0 4, 840. 5 4 981.9 5, 050. 0 5,229.7 5, 334. 1 5 281 9
1 825.2 1, 840. 2 1 904 9 1,904.1 1, 902. 4 2 007 7 2 047 4 1 974 3 2 028 9 2, 083. 2 2 164 4 2 244 4 2 242 8
2, 617. 0 2, 670. 4 2,741 2 2, 710. 1 2, 773. 7 2,828 9 2 855. 6 2 866 2 2 953 0 2, 966. 8 3, 065. 3 3 089 7 3 039 1
Federal Reserve banks, condition, end of period:
Assets, total 9
. mil. $
75, 330
78, 972
75, 592
77,388
77 215
78, 977
78, 972
77,635
77,849
78 772
82 213
80 753
80, 516
79, 473
80 281
80 285
Reserve bank credit outstanding, total 9 ..do
Discounts and advances
do
U.S. Government securities.
_
do
51, 948
141
49, 112
56, 614
188
52,937
55,461
529
53,044
54,707
390
53,279
55,919
179
53,329
55,697
471
53,350
56, 614
188
52, 937
55,892
862
52, 127
55,857
744
52,275
55,419
1 148
52,405
58,108
2 532
53,113
56,891
1 832
53,759
56,601
1,049
54, 095
57,454 '58,626
1 514
750
54,138 54,911
60,236
928
54,134
Gold certificate account
___
Liabilities, total 9
Deposits, total
_
Member-bank reserve balances
Federal Reserve notes in circulation
do
11,481
10,026
10,026
10, 026
10,026
10,026
10, 026
10,025
10,025
10,025
10,023
10, 022
10, 027
10, 027
10,027
10,036
do
do
do
75 330
78, 972
75, 592
77,388
77 215
78, 977
78, 972
77,635
77, 849
78 772
82 213
80 753
80 516
79, 473
80 281
80 285
22 920
20, 999
23 473
21,807
23,314
21,808
22, 949
21, 233
23 935
22,316
23 667
22,533
23, 473
21, 807
24,295
23, 124
23,909
22,801
23 289
21^588
25 882
24, 344
25 405
23,705
22 714
20,750
23 331
21,772
24 271
22, 789
23 317
21, 656
do
42,369
45, 510
43, 179
43, 273
43,472
44,481
45, 510
44, 170
43,992
44,232
44, 196
44, 811
45, 299
45,566
45,885
45, 818
' Revised.
* Preliminary.
1 Beginning Feb. 1969, data for indicated month exclude
loans by Federal Intermediate Credit Banks outside the Farm Credit Adm. system now
reported quarterly only.
AAdjusted to new benchmarks and seasonal factors; see note
1, p. S-13.
^Revised (back to 1960) to incorporate new seasonal factors; see note " J", p.
S-15, Oct. 1969 SURVEY.
cflnsured unemployment as % of average covered employment in a 12-month period.
OTotal SMSA's include some cities and counties not designated as SMSA's.
^Includes Boston, Philadelphia, Chicago, Detroit, San Francisco-Oakland and Los
Angeles-Long Beach.
9 Includes data not shown separately.
SUKVEY OF CUEKENT BUSINESS
October 1969
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
End of year
8-17
1968
| 1968
Aug.
Sept.
Oct.
1969
Nov.
Dec.
Jan.
Feb.
28,063
27846
217
697
—480
27,291 26, 754
27 063 26 537
228
217
824
918
—701
—596
Mar.
Apr.
June
May
July
Aug.
Sept.
FINANCE—Continued
BANKING- Continued
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total
mil. $ i 25, 260 1127,221 26 069
26, 766 25 694
* 24 915
Required
do
1455
Excess .
_ _
do
1345
375
Borrowings from Federal Reserve banks _ _ _ d o
»765
1238
565
1
Free reserves
do
107 1 —310 —190
T
arge commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:
Deposits:
Demand, adjustedc?
mil $
88 930 76 793
81 848
Demand, total 9
do
127 277 144 295 117 004
Individuals, partnerships, and corp
do
92,380 102,818 84,929
State and local governments. _
..do
7,675 5 516
6 231
U.S. Government
do
3,437 3 055
3,818
Domestic commercial banks
do
19,064 13,635
15, 752
Time, total 9
do
102 921 112 103 108 259
Individuals, partnerships, and corp.:
Savings...
_
do
49, 161 48 269
48 864
Other time .
do
38 273 45 013 43 042
Loans (adjusted) , totaled
Commercial and industrial
For purchasing or carrying securities
To nonbank financial institutions
Real estate loans. _
Other loans
_
do
do.
do
do
do
do
Investments, total
_ _
do
U.S. Government securities, total
do.
Notes and bonds _
do
Other securities
_ do
Commercial bank credit (last Wed. of mo., except
for June 30 and Dec. 31 call dates) , seas. adj.:t
Total loans and in vestments O
.
bil. $
LoansO—
do
U.S. Government securities
do....
Other securities
do
Money and interest rates: §
Bank rates on short-term business loans: f
In 35 centers
percent per annum
New York City
do
7 other northeast centers
do
8 north central centers. .
do
7 southeast centers
do
8 southwest centers.
do
4 west coast centers
do
Discount rate (N.Y.F.R. Bank), end of year or
month
_
..percentFederal intermediate credit bank loans
do
Federal land 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 (prune, 90 days)
do
Commercial paper (prime, 4-6 months)__do
Finance Co. paper placed directly, 3-6 mo. do
Stock Exchange call loans, going rate
do.
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent. .
3-5 year issues
do
CONSUMER CREDIT
(Short- and Intermediate-term)
Total outstanding, end of year or monthi_._mil. $
143, 951
66, 201
8,340
10, 415
29 126
37,702
61, 818
28, 371
22 322
33, 447
26, 077
25 694
383
515
—132
26,653
26393
260
427
—167
27,221
26 766
455
765
—310
27, 079 27, 903 27,317 26, 980 '27,079
26 927 27 603 26 974 26 864 26 776
343
152
300
'305
116
1,407
1,402
1,190 '1,249
996
—844 —1,102 — 1 064 —1 074 ' —946
26, 951
26 735
216
1,067
—851
78 029 79 134 78 963 88 930 81 120 79 826 81 891 79 374 77 040 4 78 248 78 135 79 444 80 460
127 364 123 574 125 007 144 295 127 002 124 747 128 683 134 765 127,254 4135 809 127 152 129 567 134 717
88,412 88,655 91,495 102,818 90,113 89, 131 93,164 92,700 89,414 *493, 690 90,094 91, 903 92, 470
6,860
6,366 6 175 6 175 7 675 6 318 6 272 6 257 7 005 6,270
6, 628
6 233 6,363
3,952
3,882
5,485 3,990 1,429
2 003 6 946 4,112 * 3, 618 3,382
3 437
5 434
1,228
16,216 14,896 15,596 19,064 14,596 14,915 16,259 16, 315 16,239 * 18, 999 16, 125 18, 182 17,544
109 359 110 771 111 937 112 103 110 030 109, 211 108 387 106, 949 106, 188 4103 111 100 602
98 581
97 919
46, 653
38 590
46, 652
38 049
161,824 148 615 153, 411 151,926 154023 161 824 156 682 157, 587 159, 640 162, 397 161, 977 44170,468 ••168,004 166, 481
73,988 68 008 69, 553 69,702 71, 178 73,988 72,896 73, 727 75, 269 76,659 76, 636 4 78, 590 ' 77,607 76,644
7,233 6,927 '7, 563 7,269
7,025
9,533 8,751 10,245 8,296
7,697
7,234
9,533 7,390
6,719
11,866 9 789 10, 587 10, 240 10, 287 11 866 10 401 10 535 10,709 11, 349 10,806 4 11, 927 r 10,967 11,154
32,051 30 866 31, 197 31 469 31 773 32 051 32 220 32 472 32 627 32, 877 33 022 44 33 252 r 33 303 r 33 550
40,882 38 670 40, 137 39, 482 40 453 40 882 42 745 42 727 42, 949 42,065 42,910 '44,917 44 658 44, 419
68, 347 64 129 66, 239 68 051 66 525 68 347 65 861 63 193 64,066 63,169 60,758 44 60, 168 60 081 59, 426
29, 354 27 781 28,602 30,099 28, 231 29 354 27 656 25 146 26, 073 24, 791 23, 077 4 22, 820 23,468 23, 336
24,040 24 401 24, 701 24 770 24 480 24 040 23 649 22 851 22 552 22,500 21, 803 4 21 382 21 138 21 118
38, 993 36 348 37, 637 37 952 38 294 38 993 38 205 38 047 37, 993 38, 378 37,681 37, 348 36 613 36,090
168, 805
78,428
6,585
11, 352
33,688
45, 063
346. 5
225.4
59.7
61.4
384.6
251.6
61.5
71.5
2
5 99
2
5. 72
2
6. 34
2
5 96
2
5. 96
2
6 06
2
2
2
2
2
2
2
2
4.50
5. 88
6. 02
2
2
370 4
241 1
63.9
65 5
48, 512
44 023
374.6
243.6
64.0
67.0
48,522
45 106
379.4
246.7
64.2
68.5
48 672
45 926
381 6
250.4
61.0
70 2
49 161
45 013
384 6
251.6
61.5
71.5
48 340
44 416
385 9
253.7
60.8
71.4
48, 335
44 201
387 9
258 4
58.1
71 5
48 650
43 419
386.8
257.5
57.4
71.9
47, 737
42,908
389.9
260.6
57.6
71.7
47, 691
42 511
390.8
263.3
56.0
71.5
4
47,
4
512
40 916
4
4
395 2
268.0
56.0
71.2
4
4
46, 953
39 740
395 7
268.8
56.6
70.3
395.4
269.2
56.6
69.6
58,230
22, 260
20,645
35, 970
394.7
270.4
54.5
69.8
8.82
8.65
9.14
8.85
8.46
8.85
8.75
6. 68
6. 45
7. 01
6. 72
6. 50
6. 66
6. 64
6 89
6 67
7 16
6 96
6 74
6 86
6 86
5.50
6. 41
6. 85
5.25
6 61
6 96
5.25
6.61
6.96
5.25
6.59
6.96
5.25
6.54
6.96
5.50
6.53
6.97
5.50
6.54
6.98
5.50
6.64
5.50
6.70
6.00
6 72
6.00
6.84
6.00
7.02
6.00
7.26
6.00
7.51
6.00
6. 83
6. 90
7.10
7.12
7.10
7.11
7.09
7.09
7.07
7.07
7.09
7.09
7.16
7.18
7.26
7.28
7.32
7.35
7.47
7.46
7.50
7.54
7.62
7.64
7.76
7.79
••7.86
'7.90
7.92
7.92
34.75
35.10
34.89
35.66
35.75
35.90
35.69
6.33
5.66
5.88
5.74
6 50
5.63
5.82
5.61
6 50
5.79
5.80
5.59
6 50
5.97
5.92
5.75
6.25
6.20
6.17
5.86
6.50
6.46
6.53
6.14
6.97
6.47
6.62
6.33
7 00
6.66
6.82
6.38
7.26
6.86
7.04
6.38
7 50
7.38
7.35
6.54
7 50
7.99
8.23
7.25
8.31
8.41
8.65
7.53
8 50
8.04
8.33
7.71
8.50
8.14
8.48
7.61
8.50
3 84. 321
5 07
3 35. 339
5.59
5.095
5 32
5.202
5 30
5.334
5 42
5.492
5.47
5.916
5.99
6.177
6 04
6.156
6 16
6.080
6.33
6.150
6 15
6.077
6 33
6.493
6.64
7.004
7.02
7.007
7.08
7.129
7.58
6. 09
2
2
2
2
6. 33
6. 40
2
2
6 61
6.40
6.95
6 69
6.44
6 48
6.62
102, 132 113, 191 107 090 107,636 108,643
Installment credit , total
_
do
89 890 or fiQA 86 184 87 058
80 926
Automobile paper
do
34, 130 qq qoc 33 336 33 698
30 724
Other consumer goods paper
_do._
22,395 24, 899 22 777 22,988 23, 248
Repair and modernization loans
do
3,925 3 857 3 881 3 910
3 789
Personal loans
do
26, 936 oe 7OK 25 979 26 202
24 018
By type of holder:
Financial institutions, total. . . . d o
77, 457 74 690 75 114 75 871
69 490
C ommercial banks.
do
32 700
36 952 35 672 35 923 36 352
Sales finance companies
do..
18, 219 17 670 17 680 17 823
16 838
Credit unions. _
do
10 178
8 972
9 739 9 851 9 962
Consumer finance companies
do
8,913 8,490
8,530 8,588
8,103
Other
do
3,195
2 877
3 119 3 130 3 146
Retail outlets, total..
do.
12, 433 10 994 11, 070 11, 187
11, 436
Automobile dealers, ...
do
285
320
313
317
313
Noninstallment credit, total. _ _
do
23 301 21, 406 21 452 21 585
21 206
Single-payment loans, total
do...
8,428
9,138 8,774
8,868 8,943
Commercial banks
do
7,627
7 794
7 340
7 975
7 719
Other financial institutions
do.
1,147
1,149
1,088
1,163
1,149
Charge accounts, total
do
6,574
6,692
7,755
6,650
6,968
Credit cards
do
1,245
1,029
1,267
1,268
1,305
Service credit
do
6,058
5.810
6.034
6.408
5.950
' Revised.
4
i Average for Dec. 2 Average for year.
3 Daily average.
Beginning June 1969,
data are revised to include all bank premises subsidiaries, and other significant majorityowned domestic subsidiaries; also, loans and investments are now reported gross. For complete details see the Aug. 1969 Federal Reserve Bulletin.
cfFor demand deposits, the term "adjusted" denotes demand deposits other than domestic
commercial interbank and U.S. Government, less cash items in process of collection; for
loans, exclusive of loans to domestic commercial banks and after deduction of valuation
364-132 O - 69 - 7
26,785
26461
324
569
—245
7 86
7 66
8.18
7 89
7 66
7 87
7 83
7 32
7 13
7 59
7 41
7 01
7 25
7 35
110, 035 113, 191 112, 117 111, 569 111, 950 113 231 114 750 115, 995 116, 597 117, 380
87 953
33 925
23,668
3 931
26 429
89, 890
34, 130
24, 899
3,925
26, 936
89 492
34 013
24,682
3 886
26 911
89 380 89, 672
34 053 34,262
24 404 24,306
3 875 3,874
27 048 27, 230
90 663
34 733
24 399
3 903
27 628
91 813
35 230
24 636
3 964
27 983
93 087
35,804
24,956
4,022
28 305
93 833
36 081
25,172
4 039
28 541
94 732
36 245
25, 467
4,063
28 957
76 446 77, 457 77 360 77 577 78,006 79 062 80 155 81 388 82 130 82 910
36 560 36 952 37 005 37 056 37 257 37* 854 38 347 38 916 39 248 39 532
17 960 18, 219 18 175 18 219 18, 253 18* 418 18* 636 18 961 19 127 19 265
10 049 10 178 10 101 10 153 10 294 10 508 10 699 10 939 11 054 11 220
8,913 8,879
8,927
8,685
8*, 896
9*, 293
9,436
9 008 9 080 9,146
3,195
3 192
3 200
3 253 3 275
3 408 3 457
3*274 3 393 3 426
11 507 12, 433 12 132 11 803 11,666 11 601 11 658 11 699 11 703 11 822
333
335
320
320
319
'319
319
' 325
336
329
22 082 23 301 22 625 22 189 22 278 22 568 22 937 22 908 22 764 22 648
9,120
9,024
9,138 9,038
9,073
9 050 9,139
9 216 9 218 9 227
7,975
7 857
7 878
7 879
7 877 7 961
8*040 8 017 8 031 7 946
1 167 1,163
1 160 1 173 1 178 1 176 1 201 1*196
1 174 1 194
7,755
6 964
7 097
7
002
7
039
6 403 6 340
6
988
6 557
6 971
1,305
1,294
1,334
1 316 1 303 1*320
1 362 1 428 1 498 1 550
6.094
6.408 6.490
6.736 6.799
6.605
6.795 6.748
6.679
6.587
reserves (individual loan items are shown gross; i.e., before deduction of valuation reserves).
9Includes data not shown separately. {Revised monthly data for commercial bank credit
for 1948-June 1967 appear on p. 44 of the Sept. 1968 SURVEY; those for consumer credit for
1956-67 appear in the Dec. 1968 Federal Reserve Bulletin; and those for 1965-66 for home mortgage rates will be shown later.
©Adjusted to exclude interbank loans and beginning July
1969, data are reported gross.
§For bond yields, see p. S-20. tBeginnmg Feb. 1967,
series revised to cover 35 centers and exclude rates for certain loans formerly included (see
May 1967 Federal Reserve Bulletin).
SUEVEY OF CUEKENT BUSINESS
S-18
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
1968
Annual
October 1969
Aug.
Sept.
Oct.
1969
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
FINANCE—Continued
CONSUMER CREDIT^1— Continued
Installment credit extended and repaid:
Unadjusted:
Extended, total
Automobile paper
_
Other consumer goods paper
All other
..
Repaid, total
Automobile paper
Other consumer goods paper ._ _
All other
Seasonally adjusted:
Extended, total
Automobile paper. . ..
Other consumer goods paper
Allother..
Repaid, total. ._ .
Automobile paper
Other consumer goods paper
All other
mil. $
_ do
do
do
84,693
26, 667
26,952
31, 074
97,053
31,424
30,593
35,036
8,502
2,774
2,531
3,197
7,682
2,354
2,462
2,866
8,687
2,917
2,752
3,018
8,166
2,546
2,739
2,881
9,568
2,489
3,608
3,471
7,557
2,369
2,449
3,739
6,971
2,344
1,985
2,642
8,132
2,750
2,423
2,959
9,024
3,023
2,668
3,333
8,960
2,985
2,760
3,215
9,169
3,045
2,832
3,292
8,920
2,828
2,778
3,314
8,604
2,593
2,764
3,247
do
do
do
do
81,306
26,499
25,535
29,272
88,089
28,018
28,089
31,982
7,266
2,323
2,206
2,737
7,182
2,343
2,251
2,588
7,813
2,555
2,492
2,766
7,271
2,319
2,319
2,633
7,631
2,284
2,377
2,970
7,955
2,486
2,666
2,803
7,083
2,304
2,263
2,516
7,840
2,541
2,521
2,778
8,033
2,552
2,575
2,906
7,810
2,488
2,523
2,799
7,895
2,471
2,512
2,912
8,174
2,551
2,562
3,061
7,705
2,429
2,469
2,807
do
do _
do
do
8,187
2,684
2,483
3,020
8,416
2,783
2,560
3,073
8,533
2,782
2,645
3,106
8,288
2,681
2,640
2,967
8,277
2,592
2,656
3,029
8,371
2,661
2,654
3,056
8,414
2,716
2,598
3,100
8,381
2,730
2,625
3,026
8,720
2,772
2,763
3,185
8,680
2,757
2,767
3,156
8,705
2,725
2,869
3,111
8,521
2,582
2,777
3,162
8,680
2,634
2,819
3,227
do
do
do
do
7,253
2,327
2,209
2,717
7,701
2,482
2,428
2,791
7,586
2,391
2,451
2,744
7,454
2,363
2,388
2,703
7,502
2,357
2,422
2,723
7,730
2,467
2,442
2,821
7,616
2,468
2,352
2,796
7,735
2,501
2,461
2,773
7,960
2,519
2,569
2,872
7,834
2,488
2,507
2,839
7,910
2,460
2,602
2,848
7,899
2,471
2,511
2,917
8,080
2,562
2,574
2,944
149, 552 2-153,671 13,203
153,201 2-172,803 16, 165
-3,649 2-19,132 -2,963
18,753 10, 716 12,737
16,029 16,553 15,070
2,726 -5,837 -2,332
15, 820
14,465
1,355
15,845
15, 798
47
-189
1-5,053 2-6,030
-8,702 2-25,162 -3,152
-207
-286
-55
2,518 -6,122 -2,387
71
1.427
37
84
12,838 i 23, 100 2,839
313
15,864 2 2,062
i 8, 702 2 25,162 3,152
341, 348 369, 768 378,017
267, 531 290,631 297,529
-4, 528
3,125
-686
2,010
2,997
3,073
6,122
-2, 518
2,387
'372,616 ••375,366 375, 120
293,001 296,126 295, 441
FEDERAL GOVERNMENT FINANCE
Budget receipts, expenditures, and net lending: 1
Expenditure account:
Receipts (net)
.
mil. $
Expenditure (excl. net lending)
do..
Expend, acct. surplus or deficit (— )
do
Loan account:
Net lending
do
Budget surplus or deficit (— )
do
Budgetfinancing:1
Borrowing from the public
do
Reduction in cash balances
do
Total, budget
financing
do
Gross amount of debt outstanding!
. do
Held by the public
do
Budget receipts by source and outlays by agency :fl
Receipts (net), total
mil. $
Individual income taxes (net)
do
Corporation income taxes (net)
do
Social insurance taxes and contributions
(net)
mil. $
Other
do
Expenditures and net lending, total 9
do
Agriculture Department
_ .do
Defense Department, military
do
Health, Education, and Welfare Department
mil.$__
Treasury Department
. .
do
National Aeronautics and Space Adm
do
Veterans Administration
do
Receipts and expenditures (national income and
product accounts basis), qtrly. totals seas. adj.
at annual rates:}
Federal Government receipts, total
bil. $..
Personal tax and nontax receipts
do._
Corporate profit tax accruals
do
Indirect business tax and nontax accruals-do
Contributions for social insurance
do
Federal Government expenditures, total.. .do
Purchases of goods and services
do
National defense.
do
Transfer payments
. .do
Grants-in-aid to State and local govts
do
Net interest paid
do. .
Subsidies less current surplus of government
enterprises...
bil. $
Surplus or deficit (—)...
do
14, 590 13,727
14,361 15,637
230 -1,910
23,596 13,346 P23,855 12,542 14, 999
15,922 15,279 *14, 105 15,542 16,790
7,674 -1,932 v 9, 750 '-3, 001 -1,791
-2
-1,912
-485
-152
*369
-50
-316
7,625 -2,418 plO, 119 -3,153 -2, 107
418
1,626 -1,887
-3, 586
1,494
2,159 -1, 710 2,031
1,912
144
-1, 427
-84
371, 267 373, 618 373,165 373,854
291,855 293,481 291,595 292,012
-2,456 -1,485 p-8,580 4,438
679
3,903 p-1,539 -1,285
-5, 169
1,428
2,418 x>-10,119 3,153
-7, 625
2,107
372, 216 373, 677 *367, 152 371, 759 374, 105
289,557 288,072 *279, 492 283,930 284,608
-373
-144
149, 552 2153,671 13, 203
6,360
i 61, 526 i 68, 726
538
i 33, 971 i 28, 665
18,753
9,199
5,000
10, 716
5,299
1,278
12, 737
6,483
559
15, 820
6,397
5,159
15, 845
10,222
1,603
14, 590
7,287
682
13,727
3,999
4,965
23,596
12,106
5,323
13,346 »23, 855
4,760 *10, 100
806 *8,606
1234,622 4,449
1,856
1221,659
2178,834 16, 355
1,286
i 7,308
i 77, 373 6,440
2,651
1,904
16, 235
1,685
6,408
2,256
1,883
16,839
1,267
6,768
3,659
2,035
15, 124
781
6,336
2,118
2,147
14, 394
675
6,702
2,176
1,844
15, 761
808
6,568
4,880
1,742
14,734
395
6,227
2,865
1,898
15,639
447
6,543
3,881
2,286
15,972
610
6,682
5,748
2,031
15, 764
344
6,480
3,771
1,360
434
599
3,764
1,351
342
622
3,790
1,254
393
597
3,830
1,441
334
617
3,776
1,416
353
623
3,830
1,373
347
632
3,849
1,422
335
649
4,007
1,511
385
712
4,169
1,506
353
692
i 33, 349
i 20, 706
i 158, 255
15,841
i 67, 453
134,608 i 40, 576
i 13, 059 i 14, 655
15,423 i 4, 721
i 6, 845 i 6, 858
12,542
6,404
1,070
14, 999
7,230
571
* 2, 825 ' 2, 879
P2,324
2,190
Pl3, 736 15, 695
p-492
825
P 7, 278
6,346
5,209
1,989
17,106
1,338
6,612
4,054 "4,224
1,470 P 1,514
367
P327
684
P652
3,951
1,445
319
657
4,000
1,567
337
667
151.1
67.5
30.6
16.3
36.7
176.3
79.5
38.3
18.0
40.5
181.4
83.7
38.4
18.3
40.9
187.3
87.4
39.8
18.5
41.7
198.1
93.8
40.2
18.5
45.6
202.3
96.9
40.5
18.6
46.4
163.8
90.7
72.4
42.2
15.9
10.3
181.5
99.5
78.0
47.8
18.3
11.6
184.2
100.9
78.8
48.7
18.4
11.7
187.4
101.9
79.3
50.0
19.0
12.2
188.5
101.6
79 0
50.8
19.0
12.5
189 3
100.6
78.5
52.1
19 3
12.9
193.7
103.3
80.6
52.7
19.8
13.1
4.4
4.6
44
4.8
— .1
9.6
13 0
4.7
-12.7
4.6
4.2
-2.8
-5.2
94.9
18.9
47.4
LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U.S. life insurance companies!
bil. $..
Bonds (book value), total
do
Stocks (book value), total
do
Mortgage loans, total
do
Nonfarm...
do
Real estate.
do
Policy loans and premium notes
do_ _
Cash
do
Other assets
_
do
3177.83 3188.64
3 75.77 3 79. 41
3 10.88 3 13.23
3 67.52 3 69. 97
3 61.95 3 64.17
3 5.57
s 5.19
3 10.06 3 11.31
3 1.68
3 1.58
3 7.47
3 6.85
184.28
78.64
10.05
68.88
63.13
5.48
10.94
1.34
8.94
185.24
78.84
10.24
68.99
63.22
5.51
11.04
1.43
9.18
186.26
79.34
10.49
69.18
63.40
5.53
11.13
1.44
9.15
187.55
79.70
10.67
69.37
63.59
5.56
11.22
1.43
9.60
188.64
79.49
10.92
70.04
64.24
5.58
11.30
1.68
9.62
188.97
79.95
11.07
70.20
64.44
5.62
11.40
1.42
9.31
189. 92
80.51
11.28
70.36
64.58
5.64
11.52
1.42
9.20
190.83
80.74
11.48
70.48
64.69
5.67
11.70
1.38
9.38
191.36
80.72
11.62
70.66
64.86
5.65
11.90
1.35
9.45
192. 13
80.90
11.79
70.82
64.99
5.68
12.09
1.32
9.52
192.31
80.85
11.93
70.96
65.11
5.71
12.32
1.24
9.30
193.04
81.24
11.85
71.08
65.23
5.79
12.65
1.19
9.24
194.03
81.37
11.97
71.25
65.39
5.80
12.92
1.20
9.52
Payments to policyholders and beneficiaries in
U.S., total
mil $ 13,293.6 14,385.0 1, 198. 8 1,162.3 1,247.2 1,087.3 1,506.9 1,293.9 1,206.8 1, 363. 7 1,270.5 1,240.5 1, 287. 1 1, 246. 9
Death benefits
do
547.0
616.3 560.7
542.4
548.5
5,665.3 6, 209. 3 507.3 498.6
547.8 466.1 541.2
589.0 562.2
Matured endowments
do
967.2
75.0
80.1
81.3
75.5
75.4
79.2
89.5
82.5
1,017.1
84.6
83.9
71.5
87.5
Disability payments
do
15.6
16.0
20.0
174.6
15.0
195.6
16.8
15.9
15.5
17.0
18.7
16.6
16.9
18.5
Annuity payments
do
113.2
127.1
117.0
123.8
1,261.3 1,401.0
112.1
110.8
127.6
123.4
138.4
122.8
151.4
127.8
Surrender values
do
206.4
2,243.1 2,456.4 204.7
200.5
215.7
218.6
186.5
231.1 234.8
221.8
238.7 232.2 240.0
Policy dividends
. .
do
2.932.2 3. 155. 5 282.4
259.4
257.5 226.8 543.0 225.7 219.3 272.7 249.5 229.1 287.7
236.8
* Revised.
*> Preliminary.
i Data shown in 1967 and 1968 annual columns are for fiscal years ending June 30 of the
respective years; revised monthly data for July3 1967-Mar. 1968 will be shown later.
2 includes revisions not distributed to months.
Annual statement values.
cf See note " i" on p. S-17.
UTables showing cash transactions and administrative budget receipts and expenditures
have been discontinued. Data shown in the indicated sections are from the monthly U.S.
Treasury Statement and are on the basis of budget concepts adopted Jan. 1968.
9 Includes data for items not shown separately.
JRevisoins for 1st qtr. 1966-lst qtr. 1968 for receipts and expenditures (natl. income and
product accts. basis) are shown on p. 30 of the July 1969 Survey; those for Apr. 1966-May
1968 for assets of all life insurance companies will be shown later.
SURVEY OF CURRENT BUSINESS
October 1969
1967
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
S-19
1969
1968
1968
Annual
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
FINANCE—Continued
LIFE INSURANCE— Continued
Life Insurance Agency Management Association :J
Insurance written (new paid-for insurance):
Value estimated total
mil $
Ordinary (incl mass-marketed ord )t do
Groupt
do
Industrial.
do
Premiums collected:
Total life insurance premiums
do
Ordinary (incl. mass-marketed ord.)t---do
Groupf
do
Industrial.
- - do
140 868 150 743
94*694 104/524
39, 118 i 39, 591
7 056
6 628
12 189
8,448
3,217
524
11 126
8,138
2,457
531
18, 052
13, 510
3,201
1,341
1,514
1,129
285
100
1,429
1,072
258
99
10,367
170
11 732
18 365
1
17, 017
12,822
2 843
1,352
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, U.S. (end of period)... mil. $.. 11,982
10,367 10,367
187
Net release from earmarks
do
86
76
Exports
thous $
005 199 839, 160
458
Imports
do
32, 547 226, 262 13, 361
pi 41 n n p j 420 0
South Africa
do
1 068 7 1 088 0 9l 5
103 7
Canada
do
94 1
77
United States
do
53 9
53 4
Silver:
Exports
thous $
100 710 249973 17 207
Imports
_ do
80, 178 140,435 10,844
2.145
Price at New York
dol per fine oz
2 195
1 550
Production:
07 ofifi
3 37 939
Mexico
do
United States
do
30 354
47 9
Currency in circulation (end of period)
bil $
Money supply and related data (avg. of dally flg.) :©
Unadjusted for seasonal variation:
Total money supply...
bil. $
176.5
Currency outside banks...
do
39.4
Demand deposits _
do
137 1
Time deposits adjusted^
do
173 3
U.S. Government demand depositsf
do
5.1
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:
HTAtn.! (9VI QA/TQ A 's^ f?\
ra'HnnfHn'Mtefrk
New York SMS A
'Pntn.l 9^9 QAyTQ A 'Q fnTY>nr\f "M V "\
6 other leading SMSA'stf
226 other SMSA's
AR
An
_do
do. _.
••188.6
42.0
r
!46 6
' 192. 4
'5.7
120 8
136 5
53.4
34.5
59.7
36.6
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade and SEC):
Net profit after taxes, all industries
mil. $.. 29,008
2 130
Food and kindred products
do
Textile mill products
_
do...
'540
Lumber and wood products (except furniture)
mil. $__
333
Paper and allied products
_do
796
Chemicals and allied products
do
3,261
Petroleum refining
__
- d o
5 497
Stone, clay, and glass products
do
672
Primary nonferrous metal
__.do.__
1,061
Primary iron and steel
...do
1,165
Fabricated metal products (except ordnance,
machinery, and transport, equip.)
mil. $_. 1,316
IMachinery (except electrical)
do
2 893
Elec. machinery, equip., and supplies.. _ do___
2,297
Transportation equipment (except motor
vehicles, etc.)
mil. $._
809
Motor vehicles and equipment
do
2 356
All other manufacturing industries
do
3^884
Dividends paid (cash) , all industries
do
13 262
Electric utilities, profits after taxes (Federal Re"
9 OTIS
serve) t
mil $
4
3 300
4* 196
41 200
37 168
51 0
riartrtoifc
do
ef"A
qOft
AQ A
93 7
83
13 546 115 695
9,831 8/882
3,162 l 6, 278
535
553
16 276
9,859
5,853
564
10 586
8,094
1,992
500
11 149
8,439
2,191
519
13,360
9,798
2,971
591
13,947
9,632
3,770
545
12,436
9,602
2,240
594
13,261
9,691
3,039
531
12,104
9,053
2,560
491
13,230
8,791
3,931
508
1,567
1,192
276
99
1,425
1,084
246
95
1,833
1,243
340
249
1,519
1,165
252
102
1,493
1,137
263
93
1,560
1,181
283
96
1,555
1,170
289
95
1,531
1,161
275
96
1,536
1,159
282
96
1,580
1,192
294
94
1,520
1,125
300
95
10,367
36
11, 484
20, 770
10,367
92
370
16,128
10,367
—7
478
15, 824
10,367
—66
0
14, 292
10,367
—28
202
15,005
10,367
-16
192
22,837
10, 367
48
613
24,956
10, 367
91
358
17,156
10,367
-2
193
23,742
~~92~4~ """87 ~9
75
77
83.5
7.7
83.4
7.8
86.7
71
89.1
7.6
89.3
7.3
90.0
7.4
91.3
7.3
93.7
6.7
93.9
21 529
10,496
1.959
8 653
6,719
1.979
17,648
8,244
1.840
10, 417
9,086
1.826
12,424
9,450
1.778
27, 930
9,406
1.761
8,643
8,299
1.645
8,365
5,427
1.618
10,889
4,446
1.653
3 176
3 211
3 569
3 387
4 140
3,587
5 529
49 0
4 723
49 0
5,233
49.5
49 6
50.4
50.9
51.1
51.5
18 806
13, 421
2.208
20 990
14, 182
1.973
11 884
11,547
2.018
q 079
R1fi
q KQ/S
4
2 869
4 327
40 7
4 175
4 092
48 3
r
r
r
r
r
r
!88.
0 ' 190. 1
r
42.7
42. 5
145 5 ' 147. 4
194 7 ' 196. 6
••6.1
••5.6
3,289
4 368
50 0
3 251
3,807
4 762
51 0
68, 514
199.2
45.3
153.9
194.2
Corporate
Common stock
Preferred stock
By type of issuer:
Corporate, total 9
_
do
do
do..
do
65, 670
21,954
1
QKQ
885
196.8
44.1
152.7
202.3
198.1
44.2
154.0
202.3
198.3
44.5
153.8
201.7
199.0 '199.3
44.8
45.0
154.2
154.4
200.8
197.7
199.1
45.3
153.8
194.5
(•A Q
fi7 R
137.0
AO I
145 4
65 8
143.1
46 1
64.5
65 9
138.2
46 8
66.1
39.2
68 7
146.6
48 0
67.3
68 6
143.3
48 4
68.4
68 3
138.6
49 1
70.9
69.1
140.1
49.9
73.1
40 5
191.8
42 8
149 1
199 4
193.6
43 2
150.5
202.1
194.8
43.4
151.4
204.9
195.8
43.5
152.3
203.2
65.2
147 7
43.7
60.8
36.5
fifi c
144 7
43.8
61.3
36.7
143 1
144 6
«K q
147.7
AA Q
AA R
64.4
37.7
63.0
37.4
61.1
37.5
66.3
37.7
47 4
67.8
39. 1
qo Q
4fl 1
7,635
590
180
8,718
597
178
7,929
506
138
8,925
580
173
635
889
3,525
5 794
769
1,149
1,186
179
211
852
1 442
254
269
177
170
246
891
1,461
196
349
262
201
225
886
1,468
107
321
293
229
265
961
1,480
263
371
348
1,320
2 947
2,518
349
745
605
347
765
760
310
697
625
369
930
653
1,025
3 222
4,229
14 189
237
396
1,150
3 262
265
1 007
1,224
4 064
274
855
1,019
3,606
254
821
1,230
3,797
733
873
707
7fM
9,759
3,819
60, 979
17,383
q QAG
9,363
1,037
qnq
3,421
1,159
637
93
1
OQ7
4 984
6,111
898
1,604
499
25
2,129
1,432
24, 798
21,966
1,557
640
6,979
362
453
11,058
Extractive (mining)
do
70
66
594
21
587
Publicutillty
.."."."."..""do""""
674
475
4,935
446
5,281
11
5
Railroad
do
39
246
286
Communication
- d o
115
156
1,979
95
1,766
234
Financial and real estate
do
142
2,433
197
2,820
' Revised.
P Preliminary.
1 Includes coverage on Federal employees of $8.3 bil. in
Dec. 1967 and $3.4 bil. in Nov. 1968. 2 Estimated; excludes
U.S.S.R., other Eastern Euro3
pean countries, China Mainland, and North Korea.
Includes revisions not distributed
to months.
t Revisions for Jan. 1966-Mar. 1968 for insurance written, for Jan.-July 1967 for premiums
collected, and for 1966-67 for electric utilities profits will be shown later.
t Beginning Oct.
1968 SURVEY, mass-marketed ordinary, formerly combined with group is included under
196.3
43.8
152.5
202.4
191.4
42 7
148 8
196.4
32,069
2 209
'654
65, 562
1.785
197.8
45.3
152.6
194.4
5.2
SECURITIES ISSUED
Securities and Exchange Commission:
By type of security:
10,367
192. 0 r 195. 3 ' 201. 0 ' 201. 7 ' 194. 8 ' 195. 0 ' 199. 2 '194.4 ' 197. 0 ' 197. 8 ' 196. 0
45.4
44.3
43.5
43.4 '43.7 '43.8 '44.2 '44.7 '45.2
'42.8 '43.6
149. 2 ' 151. 7 ' 156. 7 '158.2 ' 151. 4 '151.3 '155.3 '150.3 ' 152. 2 ' 152. 7 '150.6
199.
6 * 201. 3 ' 203. 1 ' 202. 8 ' 202. 4 ' 202. 9 ' 202. 7 ' 202. 2 ' 201. 0 ' 197. 7 ' 195. 5
r
'4.3
'4.8
'6.0
'5.6
'9.2
'5.4
'5.0
'4.9
'6.9
'4.5
6.3
191 0
42 4
148 6
193 8
3 flfl9
10,367 10,367
-11
239
9,531
8,066 19, 519
2
1,301
425
41
q qqr»
q OOK
1,572
464
19
1,616
393
67
4
ftQ7
3 278
li237
736
72
40 1
q C-J4
5 780
4 608
4 006
4,986
2 759
1,344
657
98
4 950
1,917
762
68
3 914
1,382
684
10
3,261
1,736
694
50
4,407
1,871
543
36
2,748 2,076 2,480 2,450
2,075 2,045 2,098
2,055
c-iq
A nq
40 1
881
641
569
513
91
163
229
115
168
150
260
74
104
492
702
392
784
404
315
627
443
319
25
41
8
21
44
13
26
9
50
286
191
197
44
232
56
186
163
41
354
298
273
548
274
272
232
522
249
ordinary insurance; monthly data available on new basis beginning Jan. 1965.
§ Or increase
in earmarked gold (-).
0Series revised to reflect the change in accounting procedures
associated with Euro-dollar transactions and to reflect new benchmarks and changes in
seasonal factors.
JAt all commercial banks.
©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.
1,767
SURVEY OF CURRENT BUSINESS
S-20
1967
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1968
1968
Aug.
Annual
October 1969
Sept. I Oct.
1969
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept,
FINANCE—Continued
SECURITIES ISSUED— Continued
Securities and Exchange Commission—Continued
Estimated gross proceeds— Continued
By type of issuer— Continued
Noncorporate, total 9
mil. $
TJ S Qov6rnTn£int
do
State and municipal
do
New corporate security issues:
Estimated net proceeds total
Proposed uses of proceeds:
New money, total
.
Plant and equipment
Working capitaL
Retirement of securities
Other purposes..
43, 716
19, 431
14,288
43, 596
18 025
16 374
8,326
5 850
1 666
2,262
361
1,423
3 982
430
2 260
1,527
379
1 037
1 758
377
1 138
2,209
427
1 244
2,041
443
974
1,416
382
520
3,032
412
1 627
2,533
410
1 088
1,525
419
710
2,536
421
1,052
do
24,409
1,397
1,513
do .
do
do
do
do
22,230
16,154
6,076
312
1,867
1,074
744
330
3
320
1,281
912
370
15
216
do_
do
14,288
8,025
16, 374
8,659
1,666
835
1,423
459
2,260
856
1,037
975
1,138
576
1,244
640
974
837
520
783
1,627
1 292
1,088
905
710
1 072
'794
1,052
627 ' 1, 140
1
791 I 1,002
7, 948 11 9, 790
3, 717
12,763
885
8,489
2,984
964
8,723
3,126
1 024
8,859
3,407
1,064
9,029
3,419
1 002
9,790
3,717
1 054 1 056
9 042
9,148
3,597 3,647
1 063
8,318
3,294
965
8 044
3,077
988
8 474
3,084
1,019
8,214
3,084
975
7,515
2,783
930
7,029
2,577
81.8
100.5
76.4
93.4
78 1
95.9
78.4
93.9
77 o
92.7
75.7
91.2
73 0
88.5
72 5
88.0
72 1
86.4
71 0
83.7
70 1
84.2
70 2
82.3
68 8
78.6
68 2
78.5
68 4
76.1
67 2
73.6
76.55
72.33
74.48
73.95
72.44
71.27
68.47
67.61
66.55
64.90
67.73
66.68
64.84
64.75
65.18
62.64
6, 087. 43 5, 669. 52
5, 393. 60 5, 458. 55
364.07
343. 60
397. 77
397. 81
522.32
533 78
501.27
474. 36
586. 72
555. 81
498. 22
517 50
399. 88
409. 00
388.20
426. 23
406.63
446 13
422. 50 '370.32
438 10 '410 29
330.44
393 16
315. 76
375 63
5, 428. 00 4, 401. 94
4, 862. 48 4, 447. 68
286.17
277. 57
304 64
323.61
406 30
430 97
395. 10
383.79
448.22
456. 37
389 95
409.21
303. 99
319. 45
306.40
345. 57
320 97
360 38
299 98
333 90
288 21
331 35
269 23
324. 81
255 55
304 60
New York Stock Exchange, exclusive of some
stopped sales, face value, total
mil. $__ 3,955.54 3, 814. 24
252. 18
305.18
363.54
343.20
387.20
344.56
289. 19
280. 23
325. 13
289. 74
300.46
293.42
245. 99
State and municipal issues (Bond Buyer) :
Long-term
Short-term
503
1,082
SECURITY MARKETS
Brokers' Balances
(N.Y.S.E. Members Carrying Margin Accounts)
Cash on hand and in banks
Customers' debit balances (net)
Customers' free credit balances (net)
mil $
do
do
1
Bonds
Prices:
Standard & Poor's Corporation:
Industrial, utility, and railroad (A A A issues):
Compositec?
dol per $100 bond
Domestic municipal (15 bonds)
do
U.S. Treasury bonds, taxable^
do
Sales:
Total, excl. U.S. Government bonds (SEC):
All registered exchanges:
Market value
.mil. $
Face value. .
do
New York Stock Exchange:
Market value
do
Face value. _
do
Yields:
Domestic corporate (Moody 's)
percent . .
By rating:
Aaa
do
Aa ..
do
A
_
do
Baa
do
By group:
Industrials.
do
Public utilities
do
Railroads
do
Domestic municipal:
Bond Buyer (20 bonds)
do
Standard & Poor's Corp. (15 bonds)
do
U.S. Treasury bonds, taxable©
do
239.42
2
5. 82
6.51
6.37
6.35
6.43
6.56
6.80
6.89
6.93
7.11
7.17
7.10
7.27
7.39
7.37
7.53
2
5.51
5.66
5.86
6.23
6.18
6.38
6.54
6.94
6.02
6.25
6.38
6.82
5.97
6.23
6.39
6.79
6 09
6 32
6.47
6 84
6.19
6.45
6.59
7.01
6.45
6.66
6.85
7.23
6 59
6.73
6.93
7.32
6 66
6.77
6.97
7.30
6.85
6.95
7.13
7.51
6 89
7 02
7.21
7 54
6 79
6.96
7.12
7.52
6 98
7 12
7.28
7 70
7 08
7.24
7.40
7 84
6 97
7 23
7.41
7 gfi
7 14
7 36
7.56
8 05
5.74
5.81
5 89
6.41
6.49
6.77
6.26
6.30
6.72
6.24
6.27
6.70
6 34
6 39
6.72
6.47
6.58
6.78
6.72
6.85
6.97
6 78
7.02
6 98
6 82
7.05
6 98
7.02
7.23
7 16
7 07
7 26
7 25
6 99
7.15
7 27
7 16
7 38
7 37
7 29
7 49
7 50
7 29
7 40
7 57
7 42
7 62
7 68
3.96
3.98
4.47
4.51
4.38
4.31
4.36
4.47
4.56
4.56
4.64
4.68
4.85
4.91
4.91
4.95
5.04
5.10
5.25
5.34
5 10
5 29
5.60
5.47
5 68
5 83
5.93
5 84
6 26
6 07
6.19
6.35
4.85
5.25
5.04
5.09
5.24
5.36
5.65
5.74
5.86
6.05
5.84
5.85
6.06
6.07
6.02
6.32
8.26
9.03
4 34
4.62
5 35
7.82
8.53
9.24
4.50
4.55
5.82
8.62
8.52
9.23
4.50
4.55
5.78
9.00
8.52
9.23
4 55
4.55
5.89
9.00
8.56
9 25
4 55
4 55
5 89
9.24
8.78
9.55
4 56
4.62
6 09
9.86
8.78
9.57
4.58
4.62
6.14
9.86
8.86
9.67
4 58
4.62
6 14
9.86
8.90
9 72
4 58
4.62
6 14
9.86
8.91
9 73
4 59
4.62
6 23
9.86
8.93
9 77
4 59
4 62
6 23
9.86
8.95
9 78
4 61
4.63
6 37
9.86
9.03
9 90
4 61
4 66
6 37
9.86
9.03
9 90
4 61
4 66
6 37
9.86
9.03
9 90
4 62
4 67
6 41
9.86
9.04
9 90
4 62
4 67
6 61
9.86
246.54
290.05
101 87
95.91
264. 62
315. 86
98.37
101.00
266. 57
317. 73
99 25
101.90
275. 62
328.32
98 50
109.77
277. 91
329.50
98 83
109 53
289. 86
343. 13
107 33
115. 18
276. 28
326.90
104.04
111. 24
273. 42
321. 13
106 49
114. 80
262. 20
309.17
101 51
106.17
271. 57
324.26
99 88
104 88
277.63
330 61
99 64
102 33
277. 23
330. 32
99 81
100.84
264.58
315 83
94 53
92 40
249.38
296 79
92 47
85 98
259.67
310 95
91 13
87 16
252.76
302 90
86 29
87 15
3.35
3.11
4 26
4 82
3.87
3.47
3.22
2.93
4.57
4.50
3.40
3.10
3.20
2.90
4 53
4.47
3.24
3.00
3.09
2.81
4 62
4.15
3.28
2.66
3.08
2.81
4 60
4 15
3.01
2.69
3.03
2.78
4 25
4.01
3.07
2.83
3.18
2.93
4.40
4.15
3.26
2.76
3.24
3.01
4 30
4.02
3.21
2.85
3.39
3.14
4 51
4.35
3.54
3.02
3.28
3.00
4 60
4 41
3.42
3.25
3.22
2.96
4 61
4 51
3.49
3.27
3.23
2.96
4 62
4.59
3.70
3.18
3.41
3 13
4 88
5 04
3 91
3.62
3.62
3 34
4 99
5 42
4 28
3.99
3.48
3 18
5 07
5 36
3 go
3.87
3.58
3 27
5 35
5 36
4.03
3.61
2
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
Fire insurance companies
...do
Price per share, end of mo., composite
.do
Industrials
_ do
Public utilities
do
Railroads
do
Yields, composite
Industrials
.
Public utilities
Railroads .
N.Y. banks
Fire insurance companies
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
15.78
15.76
17.62
Public utilities
do
6.73
6.67
6.67
'7.01
Railroads
do
6.74
'7.25
' Revised.
» End of year.
a Beginning Dec. 18,1967, Aaa railroad bonds not included.
9 Includes data not shown separately.
cfNumber of bonds represented fluctuates; the change in the number does not affect the
20.17
17.68
18 34
6.67
6.74
6.81
'7.25
"7.33
7.72
continuity of the series.
IPrices are derived from average yields on basis of an assumed 3 percent 20-year bond.
OFor bonds due or callable in 10 years or more.
SURVEY OF CUEEENT BUSINESS
October 1969
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
1968
Aug.
Annual
S-21
Sept.
Oct.
1969
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
FINANCE—Continued
SECURITY MARKETS-Continued
Stocks— Continued
Dividend yields, preferred stocks, 10 high-grade
(Standard & Poor's Corp.)
percentPrices:
Dow-Jones averages (65 stocks) _
Industrial (30 stocks)
Public utility (15 stocks)
Railroad (20 stocks)
Standard & Poor's Corporation:^
Industrial, public utility , and railroad:
Combined index (500 stocks)
1941-43= 10. .
5.82
5.93
5.93
5.94
329. 15
922.80
130. 80
258.53
340.25 344.39 347.57
955.47 964.12 968.39
130.40 137. 57 138.26
270.41 270. 51 275.36
337.64
934.99
135. 62
268.78
337.85
931.29
136.89
269. 75
101.34
103.76
105.40
102.04
101.46
5.34
5.78
5.59
5.63
314.79
879. 12
132. 65
242.38
322. 19
906.00
130. 02
250.09
318. 15
883.72
131. 15
249. 52
91.93
98.70
98.11
5.76
106.48
6.09
6.14
322.11 320.24
916. 52 927.38
130.90 129. 14
245. 26 238.01
99.30
101. 26
6.33
6.42
'6.44
6.61
325.88 305.86
954.86 896. 61
130.83 124.48
238.15 221.99
286.41
844. 02
120.40
202.88
279. 78
825.46
115. 76
199.24
279. 05
826. 71
113. 35
199. 06
99.14
94.71
94.18
94.51
6.20
104.62
99.18
96.96
79.18
68.10
46.72
107.49
105. 77
86.33
66.42
48.84
106.77
104.92
85.73
66.60
48.80
110. 53
107. 57
88.46
66.77
51.11
113.29
108.48
91.36
66.93
54.26
114. 77
109.75
92.04
70.59
53.74
116. 01
111.44
91.91
70.54
55.19
110.97
106.56
87.69
68.65
54.11
110.15
105.47
87.93
69.24
54.78
108.20
103.76
86.69
66.07
50.46
110.68
105 54
88.21
65.63
49.53
114.53
108.66
91.57
66.91
49.97
108.59
102.68
88.12
63.29
46.43
103.68
100.55
83.04
61.32
43.00
103.39
100.90
83.44
59.20
42.04
103. 97
102. 27
85.26
57.84
42.03
Banks:
New York City (9 stocks)
do....
36.40
Outside New York City (16 stocks). ... do.... 66.46
44.69
81.71
47.38
84.74
46.99
84.59
49.65
89.83
52.46
98.15
50.99
99.19
49.49
92.57
49.52
94.50
46.10
90.89
47.04
93.39
46.69
92.78
43.55
85.81
41.98
82.49
41.87
80.41
44.40
83.47
62.29
73.64
78.11
82.97
96.19
95.35
98.30
95.51
96.80
88.29
86.47
86.04
79.17
74.54
72.83
76.91
50.77
51.97
53.51
45.43
49.82
55.37
58.00
50.58
44.19
65.85 '
55.04
57.59
49.01
44.09
68.19
56.80
59.57
51.94
44.53
71.77
58.32
61.07
55.24
45.22
77.50
59.44
61.97
55.96
47.18
79.55
60.32
63.21
57.30
46.73
79.00
57.82
60.32
56.35
45.64
75.58
57.33
59.61
56.18
45.98
75.26
55.69
58.30
51.52
44.06
70.60
56.61
59.41
50.88
44.34
72.38
58.50
61.50
50.46
45.75
75.10
55.20
58.07
47.70
43.39
68.62
52.40
55.00
42.80
42.31
64.56
52.09
54.85
41.45
41.34
65.29
52.37
55.29
42.72
40.20
68.16
13,911
379
18,189 '14,860
502
'420
12,685
359
12, 392
'367
Industrial, total (425 stocks) 9
Capital goods (130 stocks)
Consumers' goods (181 stocks)
Public utility (55 stocks)
Railroad (20 stocks)
Fire and casualty insurance (16 stocks)
do....
do
do
do .
_.do
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):
Mforket value
mil $
Shares sold
millions
On New York Stock Exchange:
Market value
mil $
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
(sales effected) _
millions
Shares listed, N.Y. Stock Exchange, end of period:
Market value, all listed shares ... . bil. $
Number of shares listed
millions
161 746
4J504
196 358
5)312
14,038
'376
13,735
388
18 560
479
16 165
*412
18 864
'508
17, 957
515
15,187
407
13,234
366
125,329
OOO
2, 8Rfi
144, 978
q' OQQ
o,
^yy
10, 493
244
9,868
231
13, 727
305
11, 979
261
13,844
314
13,056
305
11,007
247
9,755
237
10,094
239
13,081
305
10,847
264
9,561
240
9,405
246
2,530
2,932
194
228
272
252
268
267
210
199
237
257
235
228
202
219
605.82
11, 622
692. 34
13, 196
640.17
12, 626
668.36
12, 714
676.18
12, 891
716.40
13,042
692. 34
13,196
689.24
13, 326
654.51
13,448
672.59
13, 657
691. 07
13,806
693. 14
14,050
650.50
14,400
611. 15
14,505
641.58
14, 761
627. 50
14,833
FOREIGN TRADE OF THE UNITED STATES
FOREIGN TRADE
Value
Exports (mdse.), incl. reexports, total
Excl. Dept. of Defense shipments
Seasonally adjusted
By geographic regions:
Africa
_
Asia
Australia and Oceania
Europe
Northern North America
Southern North America
South America
By leading countries:
Africa:
United Arab Republic (Egypt)
Republic of South Africa
Asia; Australia and Oceania:
Australia, including New Guinea
India
Pakistan
Malaysia
Indonesia
Philippines
Japan.
Europe:
France..
__
Fftst Germany
West Germany
Italy
Union of Soviet Socialist Republics
United Kingdom
mil. $.. 31,526.2 » 34,635.9 2,857.3
do
do
_do
do
do
do
do
do
do
2,990.2 2,780.5 3,193.4
110.3 115.8
1,182.3 1,269.5
609.8 628.1
7, 146. 3 7, 579. 6
92.5
1,017.4 1,025.9
98.6
10,297.7 11,151.3 1,000.3 1,011.6
7,165.9 8,059.8
2,362.7 2, 585. 0
2,354.0 2, 742. 2
94.2
109.6
543.4 690.0
80.8
78.5
879.9 1,016.0
94.6 142.2
702.8 1410.9
77.2 152.3
996.5 1657.7
144.7
126.4
145.8
48.7
767.9
400.4 718.5 804.4
93.2
122.7
90.0
36.8
702.8 1, 182. 3 1, 179. 7 1,237.3
125.5
710.0
67.5
991.4
130.4
131. 2
738.0
691.7
96.6
78.4
999.2 1, 110. 7
702.3 1687.6
236.1 1 158. 9
265.5 1 101. 8
687.3
179.2
123.8
788.9
243.0
265.7
794.3
243.9
275.1
836.3
247.2
271.4
788.3
226.7
260.6
655.2
228.7
261.2
661.3
227.3
263.0
565.9
212.6
249.1
661.2
213.0
256.4
769.5
211.7
184.0
791.5
221.3
277.4
do
do
66.0
426.4
48.4
455.2
2.2
43.3
3.3
36.3
11.1
36.3
3.1
43.1
3.9
32.9
11.4
119.9
1.0
24.0
3.5
49.1
8.3
52.7
5.3
43.8
13.9
40.4
7.0
44.0
5.2
51.4
do
do
do
do
895.4
955.4
347.3
49.2
874.9
717.6
301.9
53.6
81.8
52.1
24.2
4.5
79.3
40.6
29.1
3.9
67.3
33.9
28.5
3.7
66.9
51.0
33.2
3.8
66.4
62.7
28.6
4.2
147.2
U8.7
18.6
11.8
29.9
11.7
3.8
1.9
86.5
48.9
19.4
4.1
107.6
57.5
17.9
6.1
76.8
60.3
13.2
3.9
58.0
69.5
16.2
4.7
67.4
77.8
12.9
3.9
77.4
46.2
13.4
4.1
169.2
68.4
do
do.... 430.4
436.3
2,695.0 2,949.8
do
9.9
36.6
247.4
12.5
40.5
249.9
12.6
24.3
223.7
23.3
32.3
276.7
23.5
18.7
28.8 120.6
274.9 1193.2
4.6
22.9
211.7
10.0
45.6
285.7
16.8
41.7
300.0
19.6
39.3
293.1
20.6
31.3
264.4
16.7
30.1
274.0
16.3
32.1
329.8
do
do
do
1,024.5
26.3
1, 705. 7
1,077.7
29.2
1,711.8
82.2
3.7
162.2
84.7
2.9
158.5
79.6
1.3
133.1
102.2
3.4
142.3
95.7
4.0
160.0
158.5
1.2
191.2
76.7
1.2
101.5
123.9
2.5
178.5
124.6
2.1
182.2
124.6
2.1
243.5
90.1
1.4
159.8
94.9
3.7
169.1
96.7
.4
169.7
do
do
do
972.8 1, 119. 6
57.5
60.3
1,959.6 2,179.7
99.3
6.9
182.5
88.2
2.2
201.3
86.6
2.4
204.9
93.4
6.9
223.6
100.6 158.0
6.0
14.1
186.0 1162.3
78.3
5.5
125.3
114.1
10.0
229.3
103.7
8.4
208.8
130.2
10.8
231.5
97.5
7.5
197.7
101.5
5.8
163.6
119.4
14.5
203.4
North and South America:
Canada
mil $
7,164.7 8,058.3 565.9 661.2 769.4
' Revised.
1 Beginning Jan. 1969, data cover shipmei[its of sil\rer ore, base bullion
(incl. sweepings, waste, and scrap) , and refined bull!on, formei•ly exclud ad.The] 968 annulals,
and monthly data beginning Jan. 1968, for total exports and im]sorts only have bee n restatedto
3,094.7 >2,111.3 2, 179. 1 3,418.0 3,565.9 3, 594. 8 3,170.0 3,045.6 3,227.3
30,934.4 134,062.8 2,803.6 2,947.0 2,732.0 3,133.5 3,045.6 12,056.7 2, 144. 7 3,366.7 3,506.9 3, 543. 3 3,099.9 2,997.9 3, 165. 4
2,949.5 3,211.1 2,631.1 2,972.3 2,977.4 12,093.3 2,296.7 3,196.0 3,354.7 3,291.8 3,212.8 3,171.5 3,385.1
661.3
702.3 1687.6 687.3 788.8 794.3 836.3 788.2 655.2
791.5
cfNuml >er of sto cks repr(ssents nuimber currently iised; the
reflec t the revised cove>rage.
9 Includes data no t shown
chang e in nuinber doe s not aflfeet cont inuity o f the ser es.
separ ately.
S-22
SURVEY OF CURRENT BUSINESS
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
| 1968
Annual
October 1969
1968
Aug.
Sept.
Oct.
1969
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
431.3
30.3
66.9
25.2
30.7
117.2
66.5
433.4
32.2
76.0
29.6
22.4
119.0
61.7
431.2
34.4
58.1
37.4
27.1
116.0
65.6
FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Value— Continued
Exports (mdse.), incl. reexports— Continued
By leading countries— Continued
North and South America— Continued
Latin American Republics, total 9
Argentina
Brazil
Chile
Colombia...
Mexico
Venezuela--,
mil. $
do
do
do
_ do
do
do
Exports of U.S. merchandise, total
Excluding military grant-aid
Agricultural products, total
Nonagricultural products, total .
do
do
do
do
By commodity groups and principal commodities:
Food and live animals 9
mil $
Meats and preparations (incl. poultry) do
Grains and cereal preparations
do
4, 123. 5 4, 689. 2
230.1
281.4
547.2
708.6
307.1
248.1
217.9
319.1
1, 221. 6 1, 364. 6
587.2
655.0
31, 142. 1
30, 550. 2
6, 379. 8
24,762.3
4, 060. 9
151.3
2, 677. 9
404.5
21.8
74.6
29.0
26.8
105.7
54.3
410.5
30.7
65.0
32.4
22.8
97.9
63.5
345.4
18.6
40.3
17.7
26.8
118.3
53.5
436.8
41.3
87.0
24.7
29.7
112.5
60.7
447.8 1222.9
35.7 111.8
71.0 122.6
29.4
19.3
25.3 110.0
127.9 1 101. 8
63.9 136.2
256.7
17.8
26.5
8.8
10.8
102.5
39.1
440.5
40.1
66.3
32.9
23.0
120.7
62.0
450.7
34.1
67.8
28.1
33.3
117.8
68.7
450.6
33.0
62.0
26.9
32.3
120.6
73.2
134,199.0 2,818.6 2,955,6 2,734.1 3,158.9 3,056.3 12,071.5 2, 146. 8 3, 372. 8 3, 516. 6 3,550.2 3, 122. 6 3, 003. 2 3, 174. 3
»33,626.0 2,764.9 2,912.4 2,685.6 3,099.0 3,007.2 12,0168 2, 112. 4 3, 321. 5 3, 457. 6 3, 498. 6 3, 052. 4 2, 955. 5 3, 112. 5
438.4
583.7
6, 228. 0
489.2
609.5
516.9
469.7 463.9
610.8
177.7
239.6
601.9
512.3 499.8
127,753.7 2,313.4 2,481.1 2, 253. 9 2, 541. 0 2,445.3 11,893.8 1, 907. 2 2,855.9 2, 914. 7 2, 966. 5 2, 610. 2 2, 503. 4 2, 735. 9
3, 889. 6
161.6
2,463.1
325.9
15.3
197.9
289.4
16.6
167.0
278.2
15.4
150.4
88.1
336.3
21.6
200.4
Beverages and tobacco
do
648.7
702.5
73.0
45.6
82.5
Crude materials, inedible, exc. fuels 9
Cotton, raw, excl. linters and waste
Soybeans, exc. canned or prepared
Metal ores, concentrates, and scrap
do
do
do
do
3, 279. 7
463.8
771.6
519.5
3,540. 7
459.4
810.0
i 539. 2
268.1
24.4
47.8
44.5
268.8 , 286.0
17.9
30.5
38.4
88.2
51.2
39.4
352.7
22.2
132.3
50.6
Mineral fuels, lubricants, etc. 9
Coal and related products
Petroleum and products
do
do
do
1, 104. 1
501.4
538.6
1,049. 9
523.9
460.0
101.8
58.3
39.4
106.0
54.3
46.8
77.6
38.4
34.4
91.8
46.8
39.7
366.3
16.9
237.8
129.5
10.8
53.0
76.1
13.5
325.4 1 139. 1
33.2
7.2
101.9
2.9
38.5 125.6
90.0
46.5
40.1
73.8
42.4
25.5
168.2
12.2
81.1
322.9
18.3
174.8
350.4
17.3
204.7
362.8
21.7
214.5
354.1
15.8
209.5
333.0
15.9
211.1
312.9
13.8
181.9
12.6
52.2
45.5
74.1
69.7
53.2
57.5
176.8
6.5
31.3
30.3
298.7
14.8
100.0
40.8
384.4
64.1
94.0
61.0
343.1
41.3
63.1
66.9
262.9
23.2
37.0
64.2
301.0
36.1
49.2
71.7
292.4
17.3
33.2
86.3
61.3
34.0
23.4
76.1
33.5
33.7
95.0
49.1
40.3
110.6
64.3
42.3
107.8
62.3
41.3
93.8
56.1
34.0
105.4
55.7
44.0
Animal and vegetable oils, fats, waxes
do
337.9
274.4
20.2
25.0
21.1
20.1
28.5
14.0
15.3
22.2
31.5
25.4
28.9
27.1
20.5
Chemicals
do
2, 801. 6
3,287. 0
304.7
334.9
246.6
272.8
276.7
166.6
181.8
300.5
331.0
335.9
286.7
298.5
310.3
do
do
do
_ __do
3, 391. 1
530.9
561.9
516.8
3,939. 4
522.3
610.2
1600.8
333.8
44.9
47.8
57.8
394.1
51.1
63.3
72.0
329.5
39.1
55.7
55.1
358.7
46.0
65.1
62.4
346.7 1214.9
24.0
42.4
66.9
34.7
54.6 134.8
243.9
30.5
38.1
36.6
409.4
60.0
78.3
58.8
406.2
54.3
78.4
63.6
430.1
56.2
81.0
57.8
375.2
47.2
72.5
62.2
374.8
43.9
81.8
62.2
410.9
51.6
85.2
66.3
Manufactured goods 9 . . . .
Textiles
Iron and steel
Nonferrous base metals
_
Machinery and .transport equipment,
Machinery, total 9
Agricultural
Metalworking..
Construction, excav. and mining
Electrical
Transport equipment, total
Motor vehicles and parts
Miscellaneous manufactured articles
Commodities not classified
General imports, total
Seasonally adjusted
By geographic regions:
Africa .
Asia. _
Australia a n d Oceania _ _ _ _ _ _
Europe
__ _ _ _
Northern North America.
..
Southern North America
South America
By leading countries:
Africa:
United Arab Republic (Egypt) __
Republic of South Africa
Asia; Australia and Oceania:
Australia, including New Guinea
India.
Pakistan
Malaysia
_ ..
Indonesia
Philippines.
Japan
_
Europe:
France _.
East Germany
_
West Germany
Italy
Union of Soviet Socialist Republics
United Kingdom.. _
North and South America:
Canada
Latin American Republics, total 9
Argentina
_'
.
Brazil
Chile..
Colombia
..
Mexico
Venezuela
r
Revised.
i See note 1, page S-21.
9 Includes data not shown separately.
total
mil. $__ 12, 574. 1 14,447.4 1,122.2 1,196.1 1,178.2 1,382.3 1,275.1 1,095.6 1,071.2 1, 539. 6 1, 572. 9 1, 557. 4 1,326.0 1, 244. 5 1, 332. 3
941.8
do
847.5
718.5 554.4
8, 050. 6 8,606.4
705.9 734.3 703.8
815.1 805.6
761.8
590.3 943.1 931.2
70.0
55.3
do
46.7
35.7
45.2
51.8
54.3
55.3
614.7
626.7
49.8
63.6
59.1
45.0
70.7
26.3
do
32.3
28.1
16.3
28.6
23.6
24.0
16.2
338.9
22.0
21.8
38.3
29.1
333.8
28.7
116.4
117.5
do
106.7
57.2
98.2
97.2
94.2
94.6
83.8
67.6
110.9
105.8
1,038.1 1, 099. 1
120.6
261.2
238.3
do
165.2
190.2
194.2
199.1
194.4
249.2
215.5 213.5
199.7
168.7
2, 098. 2 2,284. 0
238.8
615.6
438.9 484.8
do
558.0 541.2 481.0
621.9
596.5
511.0
4,523.5 5,850. 1 416.9 465.5 475.3
641.6
245.4
do
284.7 307.1 353.0 318.8 284.7 264.1 351.4
198.0
2, 733. 9 3, 372. 3
345.9 357.3 317.4 235.0
do
174.1 149.5
190.5
181.9
241.2
183.5
192.5
159.6
1, 985. 4 2,144. 2
224.0 223.2 195.7 197.3 222.6
do
do
do
958.8
924.0
78.6
71.3
26, 812. 3 133,226.3 2,750.6 2,879.6
2,871.9 2,950.6
80.2
87.5
109.5
75.0
97.3
115.6
87.8
69.2
110.0
56.1
75.7
2,935.5 2,803.8 3,010.2 12,025.9 2,401.4 2, 993. 0 3, 334. 3 3, 236. 5 3, 216. 2 3, 153. 9 2,909.6
2,736.0 2,883.0 2,907.6 12,018.1 2, 655. 3 2, 980. 7 3, 177. 2 3, 276. 1 3, 187. 5 3,066.3 3, 180. 2
do
do
do
do
906.1 1,120.9
5, 347. 9 6,913.5
693.5
581.5
8, 227. 5 10 331 6
80.9
652.7
75.9
892.0
98.8
653.1
67.1
884.9
76.4
630.4
72.3
836.7
83.1
604.1
65.9
863.1
93.8 139.7
616.6 U05.8
35.6 128.9
917.3 i 443. 4
74.0
532.4
29.9
603.2
96.1
100.4
107.3
720.5
675.7
770.0
62.1
83.2
80.6
833.2 1, 020. 6 1, 036. 4
80.7
726.1
66.6
977.3
90.1
770.1
81.7
991.9
69.4
774.7
106.8
846.4
do
do
do
7, 112. 3 8, 929. 3
1,967.8 2, 234. 7
2, 661. 1 2, 880. 2
615.7
179.0
242.3
728.6
175.0
260.7
905.8
172.2
229.4
791.4
171.3
215.2
870.3 i 776. 7
201.8 1192.1
280.4 U38.1
776.0
191.0
193.5
844.4
226.7
227.9
882.0
235.2
236.6
878.7
231.9
208.9
913.7
218.8
232.6
778.0
206.0
235.4
719.4
184.2
212.6
12.5
U0.8
2.8
14.3
4.4
25.9
4.5
19.8
2.5
24.4
2.5
21.3
3.2
19.4
1.4
17.9
do
do
14.9
225.9
32.8
253.1
4.6
17.8
3.3
16.0
2.7
17.6
2.7
17.6
do
do
do
do
do
do
do
411.8
293.7
54.8
195.6
181.9
380.2
2, 998. 7
492.0
312.2
63.9
240.1
174.5
435.1
4,056.6
56.3
26.2
4.5
18.5
12.4
45.2
402.9
42.3
31.1
7.6
30.0
18.5
22.3
379.8
50.2
25.5
4.5
21.0
12.8
30.5
384.2
52.9
27.0
4.9
22.3
14.9
30.5
363.5
24.7 122.5
25.2 ill.O
7.4
12.0
22.5 117.3
16.5 110.6
40.2 115.8
366.1 i 244. 0
24.4
22.7
4.6
28.3
16.0
29.5
294.8
59.5
46.2
11.4
27.0
16.3
37.5
367.0
46.4
36.8
6.8
31.6
20.4
54.2
450.9
43.2
28.9
5.3
26.0
16.1
28.4
437.6
46.9
27.6
6.1
22.2
14.8
40.0
422.1
60.0
30.7
6.5
22.9
18.0
37.0
467.3
83.9
32.1
7.5
24.0
16.1
46.3
453.8
do
do
do
do
do
do .
690.2
5.6
1,955.4
855.6
41.0
1, 709. 8
842.2
5.9
2, 720. 2
1, 102. 0
58.0
2,047.9
82.9
.6
242.8
102.8
3.3
188.7
69.6
.6
226.4
86.7
2.3
191.3
61.6
.6
230.3
94.2
7.4
176.9
65.6
.5
231.3
95.4
1.8
157.8
82.5 136.5
.7
1.5
229.1 1105.8
98.8 153.7
3.5
14.6
177.4 1108.6
47.9
.4
142.2
71.5
2.5
140.1
64.2
1.0
207.2
85.4
4.6
149.0
86.6
.7
263.0
125.8
5.6
192.1
82.6
.6
247.0
124.2
3.1
220.4
82.3
.8
240.4
113.7
4.9
197.9
85.5
.7
261.9
117.3
2.6
201.7
76.8
.6
217.7
112.7
4.6
169.0
do
7,106.6
8, 925. 2
615.3
727.8
905.5
791.3
869.9 1776.6
775.9
844.1
881.9
878.6
913.7
777.6
714.2
do
3, 851. 0
do
140.0
do
559.0
do
175.2
do
240.4
do
748.9
do .
979.6
4, 266. 2
206.7
669.6
203.1
264.0
893.4
949.6
351.9
9.7
63.3
19.3
30.6
71.8
60.8
367.1
18.3
72.3
22.2
22.0
67. 8
76.3
333.0
13.9
52.9
12.8
19.6
65.5
81.8
326.0
14.9
53.0
11.7
23.2
73.5
70.0
401.6 1247.1
38.5
16.1
54.5 U4.8
14.3
12.4
25.8
18.6
79.3 180.7
89.2 184.3
309.3
10.9
38.6
20.3
14.5
81.4
75.1
371.8
14.3
56.9
11.2
20.1
94.2
70.7
387.5
16.8
55.0
13.2
24.4
93.5
74.8
356.3
12.6
41.4
15.9
17.7
94.9
73.3
377.0
14.6
63.1
11.8
22.6
94.2
79.8
363.2
15.1
63.9
11.1
21.0
77.6
76.8
324.6
12.6
51.9
12.2
16.1
72.0
83.1
3.4
22.2
Sept.
SURVEY OF CUERENT BUSINESS
October 1969
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1969
1968
1968
Annual
S-23
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
Apr.
June
May
July
Aug.
Sept.
FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Value— Continued
General Imports— Continued
By commodity groups and principal commodities:
Agricultural products, total
__mil. $_ 4, 471. 7 5 057.2 434.5 455 0 385.7 422.3 439 5 172.1 312 1 492.6 499 0 453 0 441.1
N onagri cultural products, total
do
22, 340. 6 28 056 8 2 304 6 2 414 3 2 538 4 2 372 8 2 577 9 1 853 8 2 089 3 2 500 4 2 835 3 2 783 5 2 775 1
437.8 399.0
2716. 1 2 510.6
do _. 4, 003. 2 4, 577. 3
do
147.2
136 0
do
962.7 1, 139. 7
645.0
do
746.5
588.4
do
640.1
do
698.1
786.3
2, 964. 4 3,345 7
do
974.3
do
958.4
418.3
do
454.8
305.6
do
338.4
174.5
do
191.8
403.1
88
110 0
68.7
70 7
80.8
293 6
90.3
36.8
24 1
16.3
408.9
7 5
103.1
83.1
55 8
80 1
306 7
99.4
34.2
28.5
23.4
368.2
66
74 5
69.5
60 4
67 2
299 4
85.9
40.4
22 2
14 0
396.8
63
95.7
72.5
43 7
61.8
267 7
75.6
37.4
25.2
16.5
169.8
396 6
14
12 2
16.1
87 4
29.2
49 3
63
56 9
24 6
77 5
294 2 ^202 0
75 9 157.8
43.1
36.7
25 9
9.0
10.7
19 9
287.1
15 3
49 0
45.4
34 7
28 6
232 3
51 1
40.7
12 2
20 7
439.0
20 5
89 1
96 4
50 9
63 8
307 4
63 0
39 8
28 8
25 4
438 4
10 4
95 8
74 7
66 2
68 1
337 5
81 7
44 7
36 0
23 2
396 7
14 1
71 6
67 1
58 6
89 1
303 8
90 0
39.8
29 6
22 6
398.9
11 9
75 4
70.4
73 0
86 8
293 7
83.0
45.3
25.3
23.1
414.4
18.6
72.0
84.4
78.0
62.8
294.1
93.6
43.8
22.3
19.4
363.7
15.4
62.0
94.4
56.5
54.1
290.8
91.6
40.3
23.8
26.9
do
do
do
_ . do
2, 247. 8 2 526 7
2, 086. 1 2 345 1
122.0
157 8
958.0 1, 129. 1
187 1
174 4
8.5
100.6
220 7
205 8
14 8
94.7
226 6
212 0
12 7
88.6
193 1
179 1
10 3
94.0
234 0
220 7
16 6
101. 7
249 1
235 2
61
70.3
231 5
209 0
12 5
81.8
226.4
208.6
11.7
111.3
240.7
224.1
11.2
124.9
219.4
198.7
13.6
108.5
212 6
196 3
8.6
114.5
221 3
202.5
11.0
102.1
227 6
205 0
10.2
99.2
Manufactured goods 9
Iron and steel
Newsprint
Nonferrous metals
Textiles
do
do
do
do
do
6, 384. 3 8, 162. 4
1, 373. 1 2 046.4
864.7
862.8
1, 562. 5 1, 933. 2
808.0
962.6
716.2
235 3
67.2
126.3
83.5
672.6
189 2
60.5
134.2
90.1
655.1
170 1
75.7
120. 9
81 9
636.5
177.7
69.0
110.7
77.4
667.3 i 398. 6
64.6
165 9
67.7
84.8
121.0 179.5
45.3
75 8
533.1
72 8
71.0
137.6
69.2
653.1
119.2
74.4
135.9
112.9
784.2
187.3
78.5
159.0
107.0
761.5
208.6
74.0
138.7
91.5
726.0
180.8
83.3
136.5
88.2
728.7
179.1
81.3
129.7
86.6
646.1
160.3
74.5
116.8
93.4
Machinery and transport equipment
Machinery total 9
Metalworking
Electrical
do
do
do
do
5, 793. 4
3, 024. 4
203.4
1, 135. 5
7,986 9
3, 692. 6
203.9
1, 494. 9
547.6
309.4
18.3
136.1
663 2
322.9
17.6
140.9
785 9
351 8
17.0
160.4
744 4
325.0
11.3
145.5
806 4
356 7
17.4
151.4
612.3
255.5
8.4
118.6
655.9
291.8
10.2
127.4
766.1
351.2
17.4
137.2
872.0
407.1
18.7
159.1
895.9
398.9
19.8
157.8
889.9
401.8
17.0
161.7
789.7
391.0
15.8
171.0
716.9
388.2
16.4
174.0
2, 769. 1
2 266 1
2, 576. 2
1, 065. 1
4, 298. 5
3 711 6
3, 346. 1
1, 207. 8
238.2
191 1
315.4
97.7
340.3
302 6
312 1
105.7
436.6
370 9
325 3
106.4
419.4
384 4
291.7
107.4
451.4
397 9
301.6
114.3
356.8
307 0
204.4
88.7
364.1
315 0
252.1
86.4
414.9
358 7
316.1
98.2
464.9
408 4
348.3
109.2
497.0
429 2
335.6
112.4
488.1
431 8
365.9
119.3
398.7
334 8
409.7
120.0
328.6
274 5
392.7
108.3
Food and live animals 9
Cocoa or cacao beans
Coffee
Meats and preparations
Sugar
_
Beverages and tobacco
Crude materials, inedible, exc. fuels 9
Metal ores
._ _
.
Paper base stocks
Textile
fibers
Rubber
_ ..
Mineral fuels lubricants etc
Petroleum and products
Animal and vegetable oils and fats
Chemicals
Transport equipment
do
Automobiles and parts
do
Miscellaneous manufactured articles
do
Commodities not classified
do
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Quantity
1957-59—100
Value
do
Unit value
do
General imports:
Quantity
do
Value
do
Unit value
do
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Shipping weight
thous. sh. tons
Value
mil $
General imports:
Shipping weight
thous sh tons
Value
mil $
8
8
8
160
178
111
8
8
8
8
8
8
184
190
103
8
226
8
235
8
173
195
112
104
170
192
113
179
203
113
150
173
115
231
240
104
237
249
105
200
211
106
187, 426
18, 636
194, 487
19, 358
18,504
1,703
17,531
1,790
15,454 17,764 18, 116
1 405 1 762 1 666
256 814
17, 434
281 331
21, 121
23,932
1,918
26 304
1,915
26 042
1,726
21 554
1,719
25 373
1,817
*202
»232f 115
.
v 262
*278
P106
9,964
580
9,440
739
14,081 17,422
1 787 2 000
19,349
2,032
18,093
1,733
18, 014
1,738
20,680
869
19,909
1,242
20 826 24 724
1 793 2,075
24, 844
2,029
22 636
1,976
24, 618
2,044
140 8
155 3
48 g
10 7
72
140.6
143.0
44 6
10 9
8.4
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers
Scheduled domestic trunk carriers:
Financial operations (qtrly. total):
4,470
Operating revenues, total 9
mil. $__
4,431
Transport, total 9
do
3,936
Passenger
___do
Property
do
277
104
U.S. mail (excl. subsidy)
do
Operating expenses (incl. depreciation)...do
4,059
234
Net income (after taxes)
_
do
Operating results:
Miles flown (revenue)
mil.. 1,274.5
1,285.9
Express and freight ton-miles flown do
Mail ton-miles
flown
do
392.5
Passengers originated (revenue)
do
99.3
71.3
Passenger-miles flown (revenue)
bil._
Express Operations (qtrly.)
Transportation revenues
mil. $_
423.1
Express privilege payments
do
104.0
Local Transit Lines
Fares, average cash rate
cents
22.7
Passengers carried (revenue)
mil..
6,616
Motor Carriers (Intercity)
Carriers of property, class I (qtrly. total):
Number of reporting carriers
21,249
Operating revenues, total
_
mil. $.1
8,329
Expenses, total
_
do
8,012
Freigh t carried (revenue)
mil. tons. ~.
478
5,091
5,046
4,488
330
129
4,770
126
1, 501.7
1, 540.1
544.0
111.2
82.0
1 359
1,346
1 205
84
30
1,232
60
133.7
136 3
43 7
11 1
86
381.5
86.2
23.6
6,491
21,249
9,523
9,047
523
127.5
134 8
41 1
89
66
132.1
154 3
48 4
9 2
6.5
23 8
520
132.4
136 2
61 7
99
7.6
a 1 143
3482
332
31,282
3-15
132,4
130.9
46 6
9.3
7.0
119.4
119.2
43 1
83
60
23 8
574
1,262
2 457
2 313
134
23 8
534
23 9
527
125.2
132.3
'48.7
9.6
7.1
137.1
141 8
49 1
10 1
7.4
84.1
20.9
98 5
22.5
••Revised.
» Preliminary.
1 See note 1, p. S-21.
2 Number of carriers filing complete reports for the year.
3 AS compiled by the Air Transport Association of America
from carrier reports to the CAB.
< Excludes excess baggage revenues.
125.0
143 5
50 6
85
6.0
93 8
21.4
23 7
507
3 1 295
1 281
1 272
1 117
95
37
1,260
—8
24 0
538
24 0
498
24 0
553
87.6
19.4
24 1
564
24 1
564
24 1
512
24.2
489
24 3
475
1,249
2 573
2,467
138
8
Revised to include trade in silver ore and bullion formerly reported separately; quarterly
data do not reflect this change.
9 Includes data not shown separately.
SURVEY OF CUEEENT BUSINESS
S-24
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1969
1968
| 1968
Annual
October 1969
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
TRANSPORTATION AND COMMUNICATION—Continued
TRANSPORTATION-Continued
Motor Carriers (Intercity)— Continued
Freight carried, Tolume Indexes, class I and II
(ATA):
Common and contract carriers of property
(qtrly )
average same period, 1957-59=100
Common carriers of general freight, seas. adj.
1957-59—100
Carriers of passengers, class I (qtrly.):
Number of reporting carriers
Opprftting revenues total
Tnil $
Expenses total
do
Passengers carried (revenue)
mi)
160 2
175.2
152 8
165 7
1 159
660 2
582 7
220 6
i 159
685 7
604.8
217 4
10 377
9 141
*485
8 211
1 488
678
4 gig
10 855
9,750
174.3
164 3
166 4
177.5
166.6
169 5
165 3
166 4
169 0
159
163
172.4
171.0
872
772
171.9
173.8
173.3
177.8
1 7 136. 0
U29.6 * 133. 9
841.8 '39.1
210.3
166.4
60.1
164.1
150.1
52 5
2,781
2 500
2 741
2,481
2 2, 916
2,196
2,175
s 568
2,707
2,419
122
2,173
394
140
108
22,249
2455
2212
2
168
759. 1
744. 5
1.310
13,120
187.0
183.6
1.317
3,696
192.4
188.0
1 330
3 006
187.4
184.6
1 344
2,851
257.8 2 * 75. 6
261.0
253.7 2»75.2
8 131.
Class I Railroads
Financial operations (qtrly.):
Operating revenues total 0
mil $
Freight
do
Pftssengflr
do
Operating expenses
do
Tax accruals and rents
do
Npt- railway operating income
do
Net incoine (after taxes)
do
Opera ting results:
Ton -miles of freight (net), revenue and nonrevenue (qtrly )
bil
Revenue ton-miles
do
Revenue per ton-mile (qtrly avg )
cents
Passengers (revenue) carried 1 mile (qtrly ) mil
Travel
Hotels:
Average sale per occupied room
dollars
"Rooms ocpupifid
% of totftl
"Rpstanrant 'sales index sanjQ mo T951=100
Foreten travel:
U 8. citizens* Arrivals
thous
Departures
do
Aliens: Arrivals
._
do
Departures
do
Passports issued and renewed
do „_
National parks, visits. __
do
Pullman Co. (qtrly.):
Passenger-miles (revenue)
mil
Passenger revenues
mil $
COMMUNICATION (QTRLY.)
Telephone carriers:
Operating revenues 9
mil. $
Station revenues
do
Tolls, message
do
Operating expenses (excluding taxes)
do
Net operating income (a.fter taxes)
do
Phones in service, end of period
mU
Telegraph carriers:
Domestic:
Operating revenues.. .
mil. $
Operating expenses
do
Net operating revenues (before income taxes)
mil. $
International:
Operating revenues
»
do
Operating expenses
do
Net operating revenues (before income taxes)
mil. $..
731 6
5 719 4
1 269
15 201
444
8,579
1,596
680
8
5
103
106
423
142
98
401
183
174
11.35
11.85
12.31
12.03
10.70
11.80
11.80
11.32
12.80
12.03
12.90
11.59
13.09
61
61
118
11 90
11 K
4 387
4 334
2,773
2 358
1,686
39,538
5,021
4,820
3,084
2,613
1,748
42, 392
809
528
357
311
132
9,240
485
367
352
264
•93
371
310
272
250
83
2,725
314
294
218
200
67
339
354
236
238
75
904
391
354
251
179
104
788
353
363
203
157
122
858
426
424
252
198
167
460
427
264
212
229
455
478
306
251
229
2,976
523
695
304
287
267
671
772
403
315
194
137
1,434
24.57
1,002
16 91
4.62
3.57
13,847
7,090
5,170
8,319
2,488
90.2
15,068
7,578
5,693
9,020
2,553
95.1
3.796
1,895
1,447
2,275
643
93.6
3,938
1,960
1,499
2,397
664
95.1
4,022
1,993
1,538
2,404
674
96.4
4,153
2,038
1,607
2,512
335.0
291.9
358.2
309 5
89 3
79 7
91.9
77.6
93.5
78.2
97.8
82 7
24.2
29.6
5.4
10.6
9.7
9.7
132.3
101 4
153.4
116 1
39 0
29 1
41.7
32.3
41.3
30.4
44.7
32 5
26.2
30.6
8.2
7.4
9.0
10.4
W
EQ
63
116
63
122
4,176
72
118
57
110
1,412
279
47
113
56
106
62
119
63
128
1,277
64
122
1,906
63
138
61
126
6,176
57
119
260.3
60
118
107
207
700
97.4
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:
Acetylene
mil. cu. ft.
14,269
Ammonia, synthetic anhydrous..thous. sh. tons. 12,200.2
Carbon dioxide, liquid, gas, and solid
do.._ 1,085.3
Chlorine, gas (100% Clj)
... .._ do _
7,679.9
Hydrochloric acid (100% HC1)
do... 1,625.1
Nitric acid (100% HNOa)
do.
6,264. 6
Oxygen (high purity)_________________mil. cu. ft_. 243,401
Phosphoric acid (100% PjOs)_____
thous. .sh. .tons..
_____
. 5,188. 9
Sodium carbonate (soda ash), synthetic (58%
NajO) ------------------------- thous. sh. tons. 4,848.9
Sodium bichromate and chromate__________do
135.3
Sodium hydroxide (100% NaOH)__________do
7,923.7
Sodium silicate, anhydrous____thous. sh. tons
612.6
Sodium sulfate, anhydrous____thous. sh. tons
1,364.0
Sulfuricacid (100% HjSOi)_________________do
28,815.2
14,877
12,093.0
1.047.8
88,428.4
1,735.3
6.134.9
248,250
4,926.2
1,224
932.1
105.5
'702.8
149.0
463.3
18,960
388.2
1,174
949.0
92.5
701.1
149.9
488.6
18,297
406.9
1,275
951.2
88.8
735.4
157.9
496.1
19,345
415.7
1,263
85.2
766.1
150.3
550.2
21,316
410.9
1,272
887.0
80.0
731.8
149.4
500.9
21,667
394.0
1,249
1,187
1,131 ' 1,153
1,151
1,160
991.2 1,050.2 1,083.3 1,136.8 '1,140.9 '1,092.8
91.6
86.5
76.6
98.6 ' 111. 1
85.2
807.4 ' 783.0 802.2
768.7
711.3
776.5
163.8
159.8 ' 154.0 153.8
147.7
156.7
572.8
549.5 ' 495.9 464.6
503.5
541.8
20,827 23,030 22,808 23,582 •21,263 21,952
420.1
380.5
450.1 447.8 '393.0 ' 345.1
1,140
998.2
108.7
22,732
379.8
4,552.6 397.6 383.2 402.1 363.6
383.3 392.5 379.6
385.1
396.6 333.1 335.5
370.2
145.1
12.1
12.1
12.4
12.0
12.0
11.7
13.1
11.3
11.1
12.9
13.7
13.3
8,799.4
777.2
770.8
766.7
725.0 736.4
721.9
811.5 ' 797.8 803.4
815.5
792.6 760.2
632.2
62.2
41.0
63.8
56.6
62.8
47.4
47.8
46.3
62.7
'52.5
61.2
46.5
U,471.7
129.0
124.2 ' 116. 2 112.0
121.7
120.7
134.1
121.4
117.8
133.0
125.3 130.2
828,382.5 2,282.2 2,294.6 2,365.0 2,357.0 2,524.4 2,317.0 2,238.9 2,405.8 2,509.7 2,559.1 '2,337.5 '2,178.3 2,263.4
l
' Revised.
» Preliminary.
Number of carriers filing complete reports for the year.
Preliminary estimate by Association of American Railroads.
» Data cover 5 weeks;
other
months, 4 weeks.
< Reflects adjustment for extraordinary items.
8
Annual total reflects revisions not distributed to the monthly or quarterly data.
• Effective Aug. 26,1968, passports are issued for 5 years; no renewals are made.
3
1,208
942.0
91.7
722.5
156.2
487.0
20,291
403.1
7
Beginning with 1st quarter 1969 reporting period, motor carriers are designated class 1
if they have gross operating revenues of $1 million or over, annually; prior to 1969, class 1
carriers were those having annual operating revenues of $200,000 or over.
» For 1st quarter
1968 comparable with data for 1st quarter 1969.
SURVEY OF CURRENT BUSINESS
October 1969
1967
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
S-25
1969
1968
1968
Annual
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS— Continued
Organic chemicals, production :d*
Acetic anhydride
Acetylsilicylic acid (aspirin)
Creosote oil
DDT
Ethyl acetate (85%)
Formaldehyde (37% HCHO)
Glycerin, refined, all grades:
Production
Stocks, end of period
Methanol, synthetic
Phthalic anhydride
mil Ib
do
mil gal
il 556 4 11 651.6
31.2
30 5
111.4
i 108. 8
142 3
2.1
8.0
142 5
2.6
9.3
137 1
31
10.5
139.0
3.0
8.8
152.9
2.8
10.6
141.7
3.5
10.7
140.4
3.1
8.8
145.2
3.4
8.9
147.9
3.5
10.3
147.9
3.6
9.6
mil Ib
do
do
102.8 1 138. 0
138.9 i 162. 0
3 686 2 14 099 6
12 3
13.3
340 6
10.7
14.5
332 4
18.8
364 6
11.8
330.8
16.0
350.5
13.1
12.3
321.1
13.0
8.9
323.2
10.5
18.9
356.1
12.4
11.0
349.9
10.3
13.3
371.3
r
143.5
3.6
9.9
140.9
3.2
10.2
8.0
'15.8
355. 7
10.3
12.7
320.4
353.8
32.6
i 520. 2
715 3
347.0
29.5
580.2
i 748 3
30 2
28.7
46.1
63 9
28.7
28.4
47.5
59 1
27.0
28.1
50.5
66 2
26.8
26 8
49 4
62 5
30.1
29.5
55.6
67 9
28.4
30.4
51.4
59.8
31.0
31.8
46.5
56.9
27.8
34.4
50.3
64 2
29.4
31.9
51.3
70.6
22.2
29.0
61.2
69.8
28.2
26.9
51.3
72.7
'28.9
'28.8
51.2
65 8
685 1
218.4
556.1
79.0
708 1
189.2
564.4
80.7
56 5
207! 5
49.8
6.6
60 0
201.4
47.0
7.7
70 g
199.5
51.7
9.1
60 3
187.8
47.1
7.6
66 2
189.2
50.6
5.4
67.5
195.5
57.1
6.7
64 4
196.8
52.7
6.0
65 3
192.4
57.8
56 4
188.5
46.9
59.3
183.8
51.2
58.1
181.6
50.2
61 9
177.0
51.4
300 1
298.6
49
303.5
305.6
2.7
26 7
26.2
33
25.2
25.7
2.7
27 6
27.0
34
25 3
26.0
26
27.2
27.2
2.7
30.7
30.3
3.1
28.3
27.7
3.7
31.0
30.2
4.5
25.3
26.0
3.9
27.5
27.8
3.5
26.8
28.2
2.1
27.6
27.3
24
15,294
1,629
11, 025
1,119
18, 956
2 607
13, 584
1 303
1 533
180
1 143
99
1,658
242
1,134
153
1 902
347
1 332
160
1 544 1,883
296
317
1 100 1,291
129
77
961
27
783
107
979
56
771
92
1,304
142
955
69
1,718
162
1,334
109
1,674
261
1,179
95
1.760
141
1,389
125
1,586
210
1,091
81
1,580
368
914
141
177
168
2,711
218
227
131
3 557
205
15
6
111
25
13
5
260
14
6
275
12
13
254
2
20
15
261
32
19
9
236
0
20
10
268
11
24
24
354
13
45
30
433
19
29
8
396
22
13
7
176
11
12
6
156
38
9
2
235
15
4,034
4 170
213
329
372
273
280
336
353
560
579
540
195
108
4,695
726
4 149
535
308
578
351
524
358
525
331
516
340
535
360
572
351
590
381
502
395
369
398
358
r
339
'411
r 277
Explosives (industrial), shipments, quarterly:
Black blasting powder
_
mil. Ib
High explosives
_
do
.4
1, 708. 5
.4
1 581.7
.1
428.8
Paints, varnish, and lacquer, factory shipments:
Total shipments
mil $
Trade products
do
Industrial f i n i s h e s . _ _ _ _ _ _
do
2 348 2 2 587 1 238 6
1 329 5 1 427 5 141 9
1,018 7 1 159.6
96 6
229 5
127.6
101.9
234 7
119 5
115 3
196 9
92 7
104 2
175 7
83.0
92.7
189.8
86.2
103.6
207 1
106 1
101 0
229.9
118.8
111.1
245.2
131.9
113.3
256 8 r'278 0
143 6 r 163. 0
113.3 115. 1
254 3
145 2
109.1
771
2 466
744
2 619
756
2 690
759
2 775
767
2,790
743
2,940
676
3 006
744
3,129
710
3 150
723
3 134
715
3,213
681
3 221
1585 9 1624 7
489 7 i 576. 4
i 953 7 1 1 038 4
1
645 4 1*741 4
54 5
47 7
85 2
65 5
51.4
48.9
91 4
68 2
58 5
51 2
101 5
71 9
48 6
49 4
90 6
69 2
46.7
47.8
82.6
70.8
51.4
50.1
87.8
60.3
50 3
52 0
88 9
62 5
52.7
58.8
96.5
70.6
55 8
59 4
96 2
66 9
57.9
62.5
97 8
65 7
55.3
50.8
95 9
66 4
53.9
51.1
81 3
55 5
Thermoplastic resins:
1
Cellulose plastic materials. - do
171 9 i 186 2
Coumarone-indene and petroleum polymer 1
resins
mil Ib
289 9 i 332 6
12 365 4 12 719 3
Styrene-type materials (polystyrene)
do
Vinyl resins (resin content basis)
do
12 599 4 12 944 g
Polyethylene
_
do
3, 761. 9 1 4 539 1
15 7
16.3
16 6
17 5
15.1
18.4
17 2
17.2
24 2
228 1
245 3
381 4
25 0
235 7
254 8
383 7
30 0
247 2
261 5
399 7
26 1
243 9
261 0
414 3
32.4
249 7
251.3
422.7
25.5
239.3
254.0
392.8
21 1
247 8
246 6
412 2
28 8
273 0
281 5
433.4
-
do
do
_ _ _ mil. gal__
mil Ib
26.5
32.4
ALCOHOL
Ethyl alcohol and spirits:
Production
mil tax gal
Stocks, end of period
_ __
do
Used for denaturation
do .__
Taxable withdrawals
do
Denatured alcohol:
Production
mil wine gal
Consumption (withdrawals) __
do
Stocks, end of period
do
FERTILIZERS
Exports, total 9 ..
Nitrogenous materials
Phosphate materials
Potash materials
--thous. sh. tons
do
do
do
Imports:
Ammonium nitrate
Ammonium sulfate
Potassium chloride
Sodium nitrate
do
do
do
do
Potash deliveries (K:O)
do
Superphosphate and other phosphatic fertilizers
(100%P205):
Production. . _
thous sh. tons
Stocks, end of period
_ __
do
MISCELLANEOUS
1
(2)
(2)
M46
317
471
PRODUCTS
Sulfur, native (Frasch) and recovered:
Production
thous Ig tons
Stocks (producers'), end of period
do
i g 284
1 954
i g gi7
2 790
.1
404.6
.1
423.6
.1
492.2
PLASTICS AND RESIN MATERIALS
production:
Thermosetting resins:
Alkyd resins
.
Polyester resins.
__
Phenolic and other tar acid resins
Urea and melamine resins
mil Ib
do
do
do
16 5
27
272
270
437
9
2
4
1
16.3
14.8
13.0
29 6
285 9
287 4
441.9
31 2
281 9
284 1
435.8
25 9
260 8
262.3
450.1
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), totalt
mil. kw.-hr__ 1,317,301 1,433,001 131, 905 115,832 119, 354
Electric utilities, total
By fuels
By waterpower
Privately and municipally owned util
Other producers (publicly owned)
Industrial establishments, total
By fuels
By waterpower
_
r
1,214,365 1,326,932 123,001 107, 154 110, 288
992,847 1,104,694 104, 856 91,428 93, 636
221, 518 222,238 18, 146 15, 726 16, 652
109,167 118, 961 122,463 109, 110 116, 679 107,974 113, 880 120,455 134, 789 133, 319
91, 254 98, 669 101, 050 88,023 95, 159 85, 863 90,845 99,497 113, 766 112,485
17,913 20,292 21, 413 21,087 21, 519 22, 111 23,035 20,957 21, 023 20,834
do
do
986, 227 1,082,382 101, 215
228, 138 244,550 21, 786
do
do
do
102,935
99,505
3,430
106,069
102,690
3,380
8,904
8,657
246
Revised.
1 Revised annual total; revisions are not distributed to the monthly data.
Less than 500 short tons.
2
118,073 128,063 131, 591 117, 665 126,035 117, 115 123,232 129, 765 143,951 142, 630
do
do
do
87,884
19, 270
91, 092
19, 196
89, 477
19, 690
96,672
22,289
99,163
23,300
87, 944
21, 166
94,008
22, 670
87, 372
20,602
91,836
22,044
8,677
8,457
220
9,066
8,818
248
8,906
8,644
262
9,102
8,836
266
9,128
8,860
267
8,554
8,290
265
9,356
9,063
293
9,141
8,842
300
9,352
9,044
308
97, 935 109, 560
22, 519 25, 229
9,310
9,020
289
9,162
8,896
266
9,311
9,050
261
cfData are reported on the basis of 100 percent content of the specified material unless
otherwise Indicated.
9 Includes data not shown separately.
JRevised monthly data for 1966 will be shown later.
SURVEY OF CUKRENT BUSINESS
S-26
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
1968
Aug.
Annual
October 1969
Sept.
Oct.
1969
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
ELECTRIC POWER AND GAS—Continued
ELECTRIC POWER— Continued
Sales to ultimate customers total (EEI) mil kw -hr 1 107 023 1 202 321107 416 106 260 100 515
Commercial and industrial:
242 492 1265 151 25 433 24, 832 22,762
Small light and powers
do
486 043 1518,834 44, 195 44,166 44,678
Large light and power §
do
Railways and railroads
Residential or domestic
do
do
Other public authorities
Interdepartmental
do
do
14 540
4 572
331 525 1367,692
9 863 110 302
29 426 132, 162
13, 640
3 102
98 673 103,027 109, 412 105, 894 105, 614 102, 255 100,883 105, 615 113, 510
21, 743
44,146
22,533
44,410
22,009
43,557
21,852
44,988
21,502
45,344
22,016
46,251
24,145 26,473
47, 157 46,547
371
436
361
351
338
33, 570 32, 967 28,687 28,704 32,608
941
998
842
903
796
2,830
2,787 2.696
2,769 2,772
335
268
331
337
315
431
37, 778
995
2,953
312
401
35,650
925
3,048
303
421
34,244
905
2,891
314
366
31,057
850
2,823
313
360
28,231
816
2,859
350
328
29,859
794
2,976
356
21, 510
44,115
348
35,934
809
3,016
384
Revenue from sales to ultimate customers (Edison
Electric Institute)
mil $ 17 222.7 18, 579. 9 1, 670. 7 1, 656. 3 1, 559. 8 1, 524. 0 1, 580. 1 1,664.1 1, 624. 1 1, 605. 0 1,566.7 1,554.1 1, 632 .3 1, 762. 3
GAS
Manufactured and mixed gas:
Customers end of period total?
Residential
Industrial and commercial
thous
do
do
Residential
Industrial and commercial
do
do
666
624
41
580
543
36
574
539
35
580
543
36
581
544
36
1 437
829
589
1 461
822
615
163
63
98
362
196
159
607
374
222
131 4
84 5
45 3
128.8
81.2
45 7
14.8
7.7
7.0
30.7
19.0
11.2
51.3
34.1
16.3
thous
do
do
39 034
35 836
3 152
39,894
36, 619
3,227
38,962
35,834
3,082
39,894
36,619
3,227
39, 974
36, 692
3,234
mil therms
do
do
133 424
42 811
85 321
144, 258
44,546
93 350
26,950
3,821
21 519
36,586
11,111
23,864
50, 357
21, 623
27, 170
8 124 4 8 623 6
4 294 9 4 450 3
3* 637 9 3 949 3
1 339 9
502.2
787.5
2,207.7
1, 126. 8
1,021.2
3, 399. 1
2, 002. 6
1,331.5
Revenue from sales to consumers total 9 mil $
Residential
do
Industrial and commercial
do
Natural gas:
Customers end of period total 9
Residential
'
Industrial and commercial
Sales to consumers total 9
Residential
Industrial and commercial
Revenue from sales to consumers total 9 mil $
Residential
do
Industrial and commercial
do
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production
mil. bbl—
Taxable withdrawals
do
Stocks, end of period _ _
_ do
Distilled spirits (total):
Production
_
_
mil. tax gal_.
Consumption, apparent, for beverage purposes
mil. wine gal__
Taxable withdrawals
mil tax gal
Stocks, end of period
do
Imports
mil proof gal
Whisky:
Production.
___mil. tax gal..
Taxable withdrawals
do
Stocks, end of period
do
Imports.. _ _ _ _
mil. proof gal
116. 55
106.97
10.77
122. 41
112. 41
11.56
11.37
10.76
12.64
9.86
9.11
12.54
8.82
7.66
12.33
10.98
9.40
13.00
21.06
19.69
21.97
21.66
18.84
17.79
15.17
24.31
11.31
962.90
5.59
24.25
10.87
968.43
4.67
28.79
13.99
973.27
6.02
28.79
13.35
978. 71
6.48
30.80
12.93
981.91
6.67
30.46
14.51
984.51
6.94
29.59
14.31
983. 82
6.83
5.81
16.41 15.24 17.01 16.10
8.76
7.31
7.39
7.44
899.65 904.35 911.26 917. 26
7.00
4.87
7.29
4.16
17.10
9.22
921. 92
5.37
17.25
8.84
927.80
5.51
14.37
12.07
7.86
9.05
932.30 933. 75
5.75
6.03
10.65
9.02
934.02
6.02
6.10
10.10
9.28
12.48
8.46
8.26
11.92
8.90
8.48
11.56
8.99
7.88
11.91
24.32
22.26
21.24
30. 94 34.14
15.75 12.85
944.52 950.02
7.90
9.23
41.14
11.47
956.44
8.14
11.43
10.06
13.37
11.28
10.25
13.36
10.17
9.15
13.57
13.09
11.96
13.55
11.98
11.44
13.12
211.77
238.33
14.72
19.36
324. 81
148.20
904.58
68.17
345.49
147. 64
956. 44
75.45
27.47
12.53
938.82
6.17
27.35
14.29
940.45
6.80
153.78
97.02
856.66
59.70
178. 05
9.60 13.28
95.27
7.63
9.45
904.35 892. 77 893. 39
5.92
66.50
5.37
108.26
67.31
110.54
66.71
8.66
4.99
10.43
6.37
12.85
8.26
10.40
6.73
8.53
4.87
8.67
4.84
8.26
5.17
10.39
6.17
9.74
5.60
9.95
5.49
11.00
6.57
10.38
6.52
10.19
8.75
4.30
1.92
12.17
10.29
5.25
2.23
1.06
.77
6.08
.24
.95
1.06
5.85
.18
1.07
1.28
5.54
.26
1.16
1.26
5.38
.27
1.26
1.27
5.25
.22
1.13
.70
5.60
.18
1.12
.56
6.10
.10
1.23
1.05
6.23
.13
1.17
.77
6.51
.18
1.04
.87
6.51
.22
1.25
1.12
6.56
.24
.96
.73
6.70
.17
.14
217. 46
175. 27
272.02
1 17. 46
221, 54
181. 18
268.30
19.98
8.88
14.76
166.67
2.24
72.54
14.76
221.09
2.22
93.68
18.01
290.02
1.78
20.75
16.44
286.82
1.54
5.51
16.00
268.30
1.68
3.63
14.95
255. 91
.75
2.93
15.28
242.63
.84
3.75
2.92
20.06
15.89
224.83 211. 75
1.91
1.19
2.48
15.59
197.08
2.34
2.49
16.03
180. 78
2.31
1.99
12.86
169. 98
2.01
1.71
362. 71
366.48
35.96
125. 32
126.37
28.99
16.92
7.15
4.11
4.69
2.16
3.00
2.13
2.74
mil. Ib 1,224.9
do
168.6
__$ per lb__
.675
1,164.8
117.4
.678
80.2
224.6
.677
69.1
196.5
.691
78.3
161.9
.686
78.4
137.4
.680
93.4
117.4
.690
106.6
104.5
.674
95.7
115.1
.673
104.7
121.4
.673
109.6
134.5
.683
116.1
162.6
.684
111.1
195.3
.684
93.5
77.2
198.0 ' 185. 6 154.5
.686
.688
1, 943. 9
1, 276. 3
160.3
107.2
145.8
93.3
146.7
89.7
135.0
81.1
145.8
86.3
147.4
90.7
139.7
87.3
163.2
101.3
174.2
113.2
197.6
135.6
201.8
140.6
181.0
124.1
Stocks, cold storage, end of period
do. .
381.0 451.3 447.3 415.5
390.3
American, whole milk...
do
318.7 390.5 376.0 346.4
344.0
Imports
do
20.2
168.2
1 151. 8
23.5
10.7
Price, wholesale, American, single daisies (Chicago)
$ per lb__
.562
.551
.521
.548
.550
f
Revised.
1 Annual total reflects revisions not distrit uted to the moiithly da ta.
§ Data are not wholly comparable on a year to year basis beca use of cha nges froin one classi-
398.0
334.5
11.6
381.0
318.7
17.1
357.7
296.4
4.5
328.5
271.1
5.9
317.8
263.0
10.7
315.7
259.5
12.9
337.5
280.7
13.2
367.4
308.3
12.0
387.8 ' 387. 4
327.1 ' 327. 1
9.6
10.0
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
17.66
11.07
895. 98
8.13
DAIRY PRODUCTS
Butter, creamery:
Production (factory)
Stocks, cold storage, end of period
Price, wholesale, 92-score (N.Y.)
Cheese:
Production (factory), total
American, whole milk_
mil Ib
do
1, 918. 8
1, 276. 3
.603
.594
.570
.565
.572
.572
.587
.595
ficatio 1 to another.
? Includ BS data not shown separate>ly.
.606
170.0
111.8
.606
368.4
307.6
.608
SURVEY OF CURRENT BUSINESS
October 1969
Unless otherwise stated, statistics through 1966
and descriptive notes are shown In the 1967
edition of BUSINESS STATISTICS
1967
1969
1968
1968
Annual
S-27
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
Apr.
May
June
July
Aug.
Sept.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS— Continued
Condensed and evaporated milk:
Production, case goods:
Condensed (sweetened)
mil. lb._
64.4
Evaporated (unsweetened)
- do
1,493 2
Stocks, manufacturers', case goods, end of period:
Condensed (sweetened)
mil. Ib
5.8
Evaporated (unsweetened)
do. _
190.2
Exports:
28.6
Condensed (sweetened) ._
.do .
Evaporated (unsweetened)
do
33.8
Price, manufacturers' average selling:
Evaporated (unsweetened)
$ per case
7.05
Fluid milk:
Production on farms. . _ _ _ _
mil. Ib
118,769
Utilization in mfd. dairy products
do
58,587
Price, wholesale, U.S. average
$ per lOOlb..
5.01
Dry milk:
Production:
Dry whole milk
_
.
mil. Ib
74.3
1,678.6
Nonfat dry milk (human food)
do
Stocks, manufacturers', end of period:
6.1
Dry whole milk
. ..do. .
Nonfat dry milk (human food)
do
98.7
Exports:
Dry whole milk
do. .
12.8
Nonfat dry milk (human food)
do
140.9
Price, manufacturers' average selling, nonfat dry
.199
milk (human food)
$ per Ib
87.4
1,360.0
7.7
130.6
6.6
107.2
10.0
101.4
7.5
88.7
4.5
109.9
3.5
96.0
4.8
97.0
6.1
109.1
7.8
135.7
9.2
157.5
6.1
147.5
6.2
139.7
6.8
136.0
2.1
99.1
30
192.8
5.7
189.0
3.0
160.6
2.6
124.4
2.1
99.1
26
56.9
3.9
39.3
3.5
53.7
2.9
83.5
4.7
124.4
3.9
151.6
2.9
188.9
3.9
211.2
42.4
33.7
6.0
1.7
2.7
2.8
6.1
3.1
1.5
2.7
6.0
3.1
.9
3.7
.9
2.9
3.5
4.0
4.5
2.2
7.4
2.9
6.1
2.4
4.5
4.2
4.0
2.0
7.26
7.36
7.36
7.36
7.36
7.36
7.40
7.42
7.45
7.50
7.50
7.51
7.51
7.51
117, 281
58.164
5.25
9,567
4.872
5.24
9,035
4.081
5.45
9,120
4.070
5.61
8,721
3.770
5.67
9,191
4.149
5.58
9,407
4.604
5.53
8,795
4.388
5.45
9,983
5.023
5.35
10, 261
5.392
5.23
11,046
5.997
5.15
10, 766
6.025
5.08
10, 165
5,480
5.21
9.612
4,902
'5.34
94.2
1,604.4
6.6
120.4
6.1
90.1
7.2
89.6
6.9
90.0
7.3
116.1
6.1
118.3
5.4
112.8
6.6
131.0
4.6
146.2
10.9
176.2
8.4
178.5
6.4
141.2
5.0
111.1
7.6
78.9
10 1
128.4
8.4
107.4
9.1
90.1
7.9
76.0
7.6
78.9
82
72.6
7.5
68.5
6.2
63.9
4.9
75.2
6.8
108.0
8.0
137.1
9.0
149.1
8.2
150.9
18.6
151.0
14
20 8
1.1
22 8
6.6
81
1.1
13.7
.4
15 3
.8
3.5
1.3
8.9
1.6
13.9
2.3
19.4
1.6
52
1.6
13 2
1.3
9 7
1.4
5.0
.224
232
234
235
.233
.234
235
.234
.235
235
.234
235
234
.234
1,245.4
1, 267. 4
114 4
83.2
84.8
108.3
127.2
18 4
33.4
91.9
95.6
107.6
92.0
99.5
93.3
* 372. 9
303.2
184.6
118.5
40.2
i 418. 2
362.7
238.8
123.9
17 8
18
442.7
291 6
151.1
4
2 5
362.7
238.8
123.9
5
1
.1
276.7
177.7
99.0
.7
1.18
1.19
1.17
1.18
1.16
1.17
9,126
5.56
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats rye, wheat) , .mil. bu
Barley:
Production (crop estimate).
Stocks (domestic), end of period
On farms.
.
Off farms
Exports, including malt§
Prices, wholesale (Minneapolis):
No. 2, malting
No. 3, straight > .
Corn:
Production (crop estimate grain only)
do
do. _
do
_ do
do
$ per bu
do
1.30
1.29
1.18
1.18
mil bu
14,760
i 4 375
Stocks (domestic), end of period, total.. mil. bu..
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)
Stocks (domestic), end of period, total
On farms
Off farms
....
4,257
3,391
866
515.3
4,204
3,247
957
594.0
1.27
1.25
1.11
1.11
1789
653
549
104
1930
776
653
123
mil. bu
do
do
do
Exports, including oatmeal
.. _
do
Price, wholesale, No. 2, white (Chicago)
$ per bu_.
Rice:
Production (crop estimate)
mil. bags 9
California mills:
Receipts, domestic, rough
mil. Ib
Shipments from mills, milled rice
do
Stocks, rough and cleaned (cleaned basis), end
of period
_
mil. Ib
Southern States mills (Ark., La., Tenn., Tex.):
Receipts, rough, from producers- _. mil. Ib
Shipments from mills, milled rice
do
Stocks, domestic, rough and cleaned (cleaned
basis), end of period. _
mil. Ib
Exports
_
do
Price, wholesale, Nato, No. 2 (N.O.)
$ per Ib
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 __
Winter wheat
Distribution
mil. bu
do
do
do
9.4
3.75
11 6
3
.72
4
1.04
1 05
1.19
1 20
.7
1.19
1.18
1.14
1.14
3
3.1
1 09
1 09
1.00
1.00
1.19
1.19
1 13
1 14
38.6
47.9
2,053
1 472
582
43.5
51.3
54.8
1.20
1.21
1.30
1.28
1.30
1.28
1.27
1.22
1.28
1.22
1.16
1 17
60 7
2 1,2 162
782
2380
50.2
40.8
1 06
1.06
1 06
1.03
1.06
1.08
54.1
4,204
3,247
957
59.9
3.1
16.5
3,011
2,194
817
49.8
1 13
1.14
1.14
1.13
1.18
1.16
1.16
1.15
1.15
1.15
16
.60
7
2 0
.63
1.0
.58
4
.71
.4
.5
.8
.75
.74
.68
.9
.69
12
.69
.3
.5
.7
.64
.63
.61
1 105 3
2 020
1 376
54
28
170
76
371
69
115
58
215
170
221
179
272
289
286
214
225
235
118
151
67
79
96
88
136
43
254
312
79
110
286
315
312
298
229
245
197
125
93
71
73
6,675
4,544
7 086
4 774
1,182
305
1,732
372
1 584
481
749
519
339
347
139
212
146
188
153
214
313
423
283
552
200
544
205
464
347
333
1,875
4.066
.085
2 013
4 163
087
784
169
087
1 547
342
081
2 122
*209
083
2 119
336
083
2 013
361
085
1 903
135
085
1,812
263
085
1,713
245
.085
1 509
492
085
1,178
408
085
858
629
.085
476
372
.084
681
291
124.2
27.8
1.19
123 2
24 3
1.14
1.09
31 7
1.12
1.17
24 3
1.20
1.21
20.0
1.23
1.24
215.9
1.22
1,522
1316
1, 207
1,360
i 1, 570
1342
i 1 229
1 439
1.12
1.15
2370
2272
299
547
437
110
776
653
123
1,913
1,403
1
4, 350
4
928
773
155
189.4
1
415. 9
1.06
1.06
4
1.17
1.20
1.23
1.17
1.06
334
1,344
580
764
§ Excludes pearl barley.
233
1,111
462
649
9 Bags of 100 Ibs.
301
2811
2327
2484
4
89. 9
4
32.0
1.07
4
432
938
.62
4
Stocks (domestic), end of period, total
do
1,344
1,212
1,678
On farms
do
580
508
732
Off farms
_.
do
704
764
947
r
Revised.
i Crop estimate for the year.
2 old crop only; new crop not reported until
beginning of new crop
year (July for barley, oats, rye, and wheat; Oct. for corn).
3 Average
4
for 11 months.
October 1 estimate of 1969 crop.
1.17
1 15
2.4
2 197. 6
2112 7
284.8
17
13
1,4 456
306
1, 150
SURVEY OF CUEEENT BUSINESS
S-28
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
Annual
October 1969
1968
Aug.
Sept.
Oct.
1969
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Con.
Wheat— Continued
Exports total including
Wheat only
flour
mil. bu
do
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
675.6
637.1
642.1
587.8
50.2
46.5
30.4
25.2
42.6
37.9
50.7
44.0
66.3
60.3
14.7
13.9
16.5
15.1
40.7
37.4
53.3
48.8
56.8
51.2
46.6
39.5
47.4
41.8
34.5
32.4
1.92
1.68
1.88
1.79
1.52
1.77
1.68
1.41
1.62
1.72
1.42
1.73
1.79
1.49
1.83
1.79
1.54
1.83
1.72
1.50
1.78
1.78
1.52
1.82
1.81
1.48
1.83
1.79
1.52
1.81
1.77
1.53
1.78
1.78
1.48
1.76
1.77
1.45
1.70
1.81
1.34
1.65
1.73
1.44
1.66
254, 185
4,510
569, 649
21,873
391
48,950
21,533
379
48,042
23,506
411
53,606
22, 080
386
49, 523
21, 279
374
47, 667
20, 342
362
45,888
18,974
335
42,038
20,625
364
46,121
20,307 21,217
356
373
45,631 47,623
20,758 ••19,620
365
r345
46, 457 ••44,119
21,678
385
48, 469
4,638
23, 264
1,551
4,517
2,229
2,020
2,903
4,638
2,570
371
609
4 489
1,433
2,096
2,387
4,324
3,033
2,429
5.927
5.449
5.788
5.288
5.913
5.375
5.925
5.463
5.950
5.513
5.925
5.463
5.888
5.400
5.838
5.375
5.863
5.350
5.838
5.338
5.875
5.388
5.888
5.463
6.013
5.588
4,002
27,780
12, 659
7,852
3,876
29,592
i 11, 699
8,219
311
2,648
957
708
323
2,540
1,123
1,153
373
2,813
1,381
1,488
344
2,416
1,077
1,259
364
337
2,380
2,676
921 21,057
342
685
317
2,356
905
352
2,423
1,019
312
2,414
1,022
271
2,466
961
248
2,435
1,007
282
2,611
946
271
2,608
957
1,203
25.97
24.67
32.38
27.65
25.89
33.83
27.92
25.84
32.00
28.24
25.33
32.00
28.22
25.60
31.50
28.38
26.01
32.50
28.83
26.39
35.00
29.10
26.60
37.50
28.97
27.22
40.50
30.20
28.69
40.50
30.98
30.28
40.00
33.76
32.40
40.50
34.20
33.17
39.00
31.57
29.87
35.00
30.97
29.20
29.85
28.37
74,789
70, 915
1 16,196 U5,932
5,942
1,186
6,348
1,319
7,410
1,612
6,571
1,388
6,619
1,410
6,814
21,460
6,245
1,278
6,816
1,363
6,852
1,429
6,045
1,307
5,591
1,228
5,739
1,204
5,708
1,095
1,266
17.87
18.94
19.68
20.41
20.23
22.71
24.35
24.90
27.11
25.42
17.0
17.2
18.0
18.3
17.5
18.7
20.3
21.1
22.0
21.6
Wheat flour:
Production:
245, 240
Flour
thous. sacks (100 Ib.)
4,423
Offal
thous sh tons
549, 801
Grindings of wheat
thous. bu
Stocks held by mills, end of period
thous. sacks (100 lb.)..
4,372
Exports
do
16, 535
Prices, wholesale:
Spring, standard patent (Minneapolis)
SperlOOlb..
6.124
Winter, hard, 95% patent (Kans. City). .do
5.631
1.79
1.48
1.72
919
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected) :
Calves
thous. animals..
Cattle
do
Receipts at 28 public markets
do
Shipments feeder to 8 corn-belt States
do
Prices, wholesale:
Beef steers (Chicago)
$ per 100 Ib . _
Steers, stocker and feeder (Kansas City)_.do
Hogs:
Slaughter (federally inspected). __thous. animals..
Receipts at 28 public markets
do
Prices:
Wholesale, average, all grades (Chicago)
$ 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..
Receipts at 28 public markets
do
Shipments, feeder, to 8 corn-belt States
do
Price, wholesale, lambs, average (Chicago)
SperlOOlb..
18.88
18.65
19.35
19.49
18.19
17.56
16.3
18.0
19.5
19.3
18.6
16.8
11, 516
13,603
1,449
10,888
12,934
1,399
930
233
122
973
300
181
1,063
376
301
835
243
134
832
210
79
1,007
2214
70
768
179
815
176
839
183
835
192
810
250
822
252
797
230
291
23.48
26.02
25.25
25.25
25.62
26.12
25.00
26.50
27.50
29.25
30.75
32.25
29.75
29.25
26.75
26.00
31, 106
32, 714
2,737
2,737
3,134
2,768
2,760
2,965
2,628
2,765
2,788
2,692
2,602
2,705
2,650
644
484
1,397
625
508
1,594
506
45
148
517
55
171
572
48
147
614
62
144
625
54
97
597
29
65
601
35
88
617
57
198
678
54
149
633
62
134
556
45
139
513
46
163
'513
40
188
17, 252
286
34
1967
18, 270
304
29
1,129
1,608
239
3
113
1,536
249
2
129
1,714
273
2
111
1,487
304
3
107
1,475
304
2
63
1,658
288
2
51
1,461
278
2
59
1,490
282
3
140
1,492
275
2
99
1,520
253
3
85
1,499
238
2
99
1,591
246
2
118
1,570
••273
2
148
.451
.473
.477
.477
.466
.471
.484
3.474
.465
.484
.501
.546
.556
.521
r.498
.478
574
15
545
14
45
11
47
12
53
13
42
15
43
14
52
10
40
9
43
12
43
17
43
16
40
13
40
12
38
15
16
13,280
13,899
1,084
1,154
1,367
1,239
1,242
1,254
1,127
1,233
1,074
1,041
MEATS AND LARD
Total meats:
Production (carcass weight, leaf lard in) , inspected
slaughter.
mil. Ib—
Stocks (excluding lard), cold storage, end of
period
mil. lb_.
Exports (meat and meat preparations)
do
Imports (meat and meat preparations)
do
Beef and veal:
Production, inspected slaughter
do
Stocks, cold storage, end of period
do
Exports
do
Imports
do
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs.) (New York)
$perlb_.
Lamb and mutton:
Production, inspected slaughter.
...mil. lb._
Stocks, cold storage, end of period
do
Pork (including lard), production, inspected
slaughter
mil Ib
Pork (excluding lard) :
Production, inspected slaughter
do
Stocks, cold storage, end of period . _
do
Exports
_
do
Imports _
do
Prices, wholesale:
Hams, smoked composite
$ per Ib
Fresh loins, 8-14 Ib. average (New York)._doLard:
Production, inspected slaughter
mil Ib
Stocks, dry and cold storage, end of period.. do
Exports
do
Price, wholesale, refined (Chicago)
$ per lb_.
1,130
1,064
311
880
196
8
29
860
••168
7
21
176
.609
.616
10, 750
286
56
307
11, 330
256
92
324
881
196
11
24
943
197
11
30
' 1, 114
222
14
24
1,014
237
18
25
1,022
256
15
26
1,033
251
14
10
938
264
16
21
1,026
270
12
39
1,042
324
10
33
935
299
23
33
877
246
13
28
.544
.515
.537
.509
.545
.515
.543
.539
.546
.484
.567
.481
.595
.484
.547
.531
.517
.507
.559
.476
.522
.495
.536
.572
.572
.614
.572
.631
1,835
151
189
.126
1,862
94
172
.112
146
105
16
.105
154
94
16
.105
182
89
14
.114
164
78
20
.123
160
94
12
.116
160
92
12
.130
138
97
14
.133
149
92
29
.144
152
93
11
.133
142
80
39
.130
135
76
15
.131
141
62
11
.139
880
858
984
803
764
726
567
631
661
724
783
842
897
413
305
492
386
607
504
486
386
417
317
394
294
351
255
287
201
239
155
207
123
200
119
248
163
'234
'237
422
329
.140
.130
.115
.120
.125
.130
.135
.145
.135
.145
.145
.170
.155
.145
POULTRY AND EGGS
Poultry:
Slaughter (commercial production)
mil. lb_.
9,218
8,915
Stocks, cold storage (frozen), end of period, total
mil. lb._
540
417
Turkeys
do
367
317
Price, in Georgia producing area, live broilers
$perlb._
.122
1.31
•• Revised.
i Annual total reflects revisions not distributed to the monthly data.
1,253
557
131
55
23
2 Beginning Jan. 1969, data are for 38 markets; comparable Dec. 1968 receipts: Cattle and
caves, 1,085; hogs 1,461; sheep and lambs, 213. 3 Beginning Jan. 1969, quotations are on
carlot rather than l.c.l. basis as previously.
SURVEY OF CURRENT BUSINESS
October 1969
Unless otherwise stated, statistics through 1966
and deecrlptire notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1969
1968
| 1968
Annual
S-29
Aug.
Sept.
Oct.
Nov.
Dec.
Feb.
Jan.
Mar.
Apr.
May
June
July
Aug.
Sept.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
POULTRY AND EGGS-Continued
Eggs:
Production on farms
.
mil. cases O
Stocks, cold storage, end of period:
Shell
thous. cases 0
Frozen
_
mil. lb__
Price, wholesale, large (delivered; Chicago)
$ per doz_.
194.9
192.6
15.7
15.1
15.8
15.4
15.9
15.9
14.7
16.6
16.3
16.9
16.0
16.0
15.7
15.2
89
86
59
72
229
109
150
102
172
92
91
82
59
72
56
61
71
56
52
52
173
50
237
53
300
61
213
66
'120
64
85
57
.298
».372
.390
.501
.399
.437
.480
.485
.413
.445
.404
.334
.351
.471
.433
.488
Cocoa (cacao) beans:
Imports (incl. shells)
thous Ig tons
Price, wholesale, Accra (New York).___$ per lb__
282 6
.288
228 2
.344
15 3
.300
12 9
.363
10.8
.394
10.0
.465
17.4
.505
2.0
.433
23.4
.436
27.2
.460
14.3
.455
20.7
.443
15.4
.456
26.0
.478
21.6
.469
.466
Coffee (green):
Inventories (roasters', importers', dealers'), end
of period
thous bags^
Roastings (green weight)
do
2 311
21 291
5 076
21 165
5 205
4 921
Imports, total
do
From Brazil ...
do
Price wholesale Santos No 4 (N Y ) $ per Ib
Confectionery manufacturers' sales
mil S
21 312
6,069
384
1 645
25 377
2 397
8,318
773
376
378
1 705
127
2 322
839
375
194
1.687
552
378
188
2,132
740
.378
172
1,945
699
.375
139
363
135
375
146
1,111
345
.375
156
2,015
654
.383
152
2,195
643
.380
135
1,664
478
.378
118
1,747
563
.375
115
1,714
529
.375
106
1,476
329
MISCELLANEOUS FOOD PRODUCTS
Fish:
Stocks, cold storage, end of period.
mil. lb._
Sugar (United States):
Deliveries and supply (raw basis) :§
Production and receipts:
Production
thous sh tons
Entries from off-shore total 9
do
Hawaii and Puerto Rico
do
Deliveries, total 9
For domestic consumption
Stocks raw and ref end of period
do
do
do
Exports raw and refined.
sh tons
Imports:
Raw sugar total 9
From the Philippines
Refined sugar, total
thous sh tons
do
do
Prices (New York):
Raw, wholesale
Refined:
Retail (incl N E New Jersey)
Wholesale (excl excise tax)
Tea, imports
3,389
5.080
3,249
5,370
5,076
5,603
129
253
285
258
275
288
287
285
248
219
193
188
191
201
230
'253
4 106
6 391
1 958
4 396
6 680
1 707
90
788
184
158
532
92
793
570
215
1,066
439
128
1,008
269
87
690
2 034
35
381
46
46
70
98
99
116
174
145
137
370
192
95
524
148
77
548
102
eoi
932
1,029
921
1 013
1,723
1 249
821
809
2,467
1,077
1 067
2 961
704
692
3,151
620
611
3,146
919
903
2,737
834
817
2,698
933
918
2,580
976
965
2, 396
1,019
1,008
2,164
f i,69i
66
94
102
76
163
85
46
38
69
431
96
13
45
o
1
264
96
(8)
371
91
22
486
140
1
438
58
2
538
108
2
577
124
7
416
95
13
10, 516
10 245
2 873
11 089
10 922
2 961
1,117
1 102
1 533
1 468
1 320
165
120
62
118
4 584
2 1 134
97
4 879
1 075
117
541
161
4
444
g
2
452
33
1
290
32
48
r
171
.073
.075
.076
.076
.077
.076
.076
.077
.077
.078
.078
.078
.078
.075
.078
$ per 5 Ib
$ per Ib
4 620
099
624
101
635
102
635
102
.636
.102
.638
.102
.630
.103
628
103
.630
.103
.631
.103
.629
.105
.632
.107
.642
.107
.641
.646
thous Ib
142,583
155 335
16,354
14, 766
7,677
12,279
15,633
1,859
4,046
14, 825
16, 785
17, 989
13, 655
11,644
8,892
3 225 7
' 139. 2
3 311 9
' 142! 7
297 7
136.2
292 4
125.4
317 0
134.7
296 6
119.2
275 3
142.7
286.4
127.3
272.3
133.4
291.3
132.7
268.7
142.1
287.6
138.9
281.1
244.4
144.5 ' 130. 7
281.7
128.2
2,922.1
79.5
2 995.9
79.4
245.0
73.2
239.4
64.9
261.5
69.7
230.8
74.8
234.6
79.4
241.5
84.8
215.9
76.4
248.9
80.0
258.4
73.9
283.7
91.4
322.0 ' 253. 5
74.7 '62.5
241.3
60.2
2, 114. 1 2, 140. 9
59.9
49.1
168.0
52.8
168.0
50.1
199.7
56.3
179.6
45.8
196.6
49.1
214.9
51.2
175.3
60.2
181.0
56.1
169.3
58.7
165.1
58.2
169.5
54.1
r 161. 1
162.6
51.0
.257
Iperlb-
Baking or frying fats (incl. shortening):
Production
mil Ib
Stocks, end of period © .
do
Salad or cooking oils:
Production
..
do
Stocks, end of period©
.
do.
Margarine:
Production
.
do
Stocks, end of period©
_. do
Price, wholesale (colored; mfr. to wholesaler or
large retailer* delivered)
S oer Ib
'55.5
265
257
256
256
256
256
256
256
.256
.256
.256
.257
.257
.257
577 8
525 1
73.2
539 1
517 3
49.6
44 9
53 2
47.5
44 5
47 2
39.3
48 1
45 1
40.9
45 5
46 3
42.7
40 6
34 6
49.6
46 2
39 7
50.1
45.8
43.3
54.0
44 0
49.0
44.2
41 4
41.4
47.4
42.0
43.9
44.3
40.5
45.6
32.8
4 753 0
2 402 4
424.6
4 745 2
2 478 0
'35& 5
397 5
210 1
400.0
390 2
211 7
376.9
431 9
223 0
386.7
377 1
193 g
376.0
362 0
192 0
358.5
409 1
217.6
421.6
378.2
205.0
425.1
380.1
215.7
419.1
386.2
228.0
335.9
372.3
211.6
306.4
363.8 ' 382. 8
219.9 ' 211. 5
281.2 ' 283. 3
376.8
207.8
291.3
118.4
73 0
146 3
170.8
69 9
155 8
30.9
55
177 8
26.3
58
188 3
20.4
52
178 8
12.1
55
159 2
6.5
46
155 8
.9
49
155.4
.9
6.4
122.5
.6
6.9
111.2
5.4
6.8
94.2
20.8
5.2
123.5
27.2 '29.3
5.0
7.1
130.9 ' 142. 1
27.7
5.8
122.6
3350.5
565 1
766 1
133 6
2523.0
392.1
548 7
730 7
197 1
442.8
34.9
51 4
61 1
152 8
16.1
34.0
44 1
57 2
130 2
30.7
27.5
48 1
65 6
132 9
41.0
41.7
44 9
61 5
172 0
17.5
32.4
34 2
54 1
197 1
14.6
31.3
45.2
59 6
187.6
152.3
28.8
45.6
59.9
179.1
40.1
31.4
46.1
63 8
184.9
10.3
30.5
52.2
63 8
155.6
19.2
29.3
44.0
60 5
153.1
34.2
33.2
19.1
41.3
43.6
61.0 '52.3
154.2 ' 138. 5
33.0
31.6
35.4
48.5
60.2
141.0
28.3
444.0
418 1
420 6
37.' 7
452.8
429 6
439 6
4n.5
33.4
38.3
39 5
43. R
34.4
31 9
33 5
41.1
41.4
35 2
40 9
30.7
39.5
36 3
40 2
39.' 0
37.8
38 8
36 2
40.5
38.0
33.8
34 1
43.3
36.1
31.8
31 3
49.8
39.5
38.8
36.6
54.7
44.0
33.0
33.6
65.9
39.5
36.8
37 4
68.5
.078
FATS. OILS, AND RELATED PRODUCTS
Animal and fish fats: A
Tallow, edible:
Production (Quantities rendered)
mil Ib
Stocks, end of period i
~
"do
Tallow and grease (except wool), inedible:
Production (Quantities rendered)
do
Consumption in end products
do
Stocks, end of period i
do
Fish and marine mammal oils:
Production
do
Stocks end of period T
do
Vegetable oils and related products:
Coconut oil:
Production: Cni^fi
Refined
Stocks crude and ref end of period 5T
Imports
Corn'oil:
Production: Crude
Refined
Stoftlrs. ftnidfl and r«f
«nH nf norinrif
TniJ Jh
do
do
do
do
do
t\n
r Revised.
* Preliminary.
» Beginning January 1968, data are not comparable with those for early periods; prices are
based on minimum 80 percent A quality (instead of 60-79.9 percent as formerly). 2 Annual
total reflects revisions not distributed to the monthly data.
» Less than 500 short tons.
« Beginning July 1967, prices based on 1967 benchmark; 1967 average is for July-Dec, period.
July 1967 price on old basis, $0.631.
40.1
39.5
39.9
65.9
T
39.7
' 37.2
'28.3
'37.5
33.8
33.3
'68.3
42.5
43.3
27.7
38.8
34.1
35.5
70.9
OCases of 30 dozen. tfBags of 132.276 Ib.
§ Monthly data reflect cumulative revisions
for prior periods.
9Includes data not shown separately; see also note " §".
AFor data
on lard, see p. S-28. ©Producers' and warehouse stocks.
IfFactory and warehouse
stocks.
October 1969
SURVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
Aug.
Annual
1969
1968
| 1968
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
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
Stocks (at oil mills) end of period
do
Cottonseed oil:
Production* Crude
mil Ib
Kenned
do
Stocks, crude and refined (factory and ware"ETports (cnidft and rfifin@d)
do
1, 564. 7
146 7
1 574.8
135 1
Price wholesale (]V£inneapolis)
Soybean cake and meal:
Production
S oer Ib
thous sh tons
Soybean oil:
Production* Crude
mil Ib
Refined
do
Consumption in end products
do
Stocks, crude and refined (factory and warehouse) end of period
mil Ib
7
Price wholesale (refined* N'Y )
$per Ib
TOBACCO
Leaf:
Production (crop estimate)
mil Ib
Stocks, dealers' and manufacturers' end of period
mil Ib
Exports incl scrap and stems
thous Ib
Imports incl scrap and stems
do
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
Taxable
Cigars (large) taxable
Exports, cigarettes.
millions
do
do
do__
54.5
107 6
231.5
130 7
240 3
145 4
246.7
135 1
141.2
215 9
167 5
201.0
163.5
175.0
192.5
155.0
215.5
106.8
179.4
'69.6
155.0
60.0
98.0
r
50 3
'72.2
62 4
41.4
54.9
64.8
439 7
23.2
140
417.5
6.8
12 8
' 17.0
16.1
16.5
121. 3
.119
117.8
255.3
1,050 8
1 010 5
1 001 5
909 6
22 9
29 4
63 0
39 6
30 0
59 2
162 6
99 3
76 9
167 7
124.8
68 9
173 7
125 4
70 3
186 2
144.3
70 3
155 8
130 4
66 1
145 6
119.8
66 0
127 3
119.9
74 7
112 4
109.4
69 7
80 4
94.0
88 6
252 1
*72. 1
272 7
61.7
163
118 7
.8
193
98 7
33
175
153 2
3.9
134
213 5
12.0
272 7
9.5
140
345 5
2.6
140
377 2
20 7
idn
430 0
9.5
140
460 8
19.5
140
466 2
12.8
140
467 6
4.9
140
306 6
195.6
22 o
17.3
31 6
16 8
OK A
17.3
29 9
14.1
25 0
11 9
30 4
13.3
A
209.8
15.1
24 8
16.9
20 8
17.1
22 0
18.3
21 6
18.2
213 3
129
157 2
127
163 6
126
162 2
119
164 7
119
168 6
119
157 2
119
152 8
119
158 1
119
164 2
119
156 7
119
161 9
119
131 4
119
13 359 2 13 468 4 1 022.7
199 8
149 2
100 5
893 4
95 4
1 108 3 1 115 1
2 IKA
Linseed oil:
Consumption in end products
do
Stocks, crude and refined (factory and ware-
33.5
127 4
370 6
6 149 9
5 072 8
5 202 7
6 149 6
5 227 9
5 401 6
588 6
823 4
103
663 2
912 3
120
'1,968
5,486
8
477 6
427 l
444 9
695 7
29 7
092
408 6
444 4
457 0
539 9
124 2
093
•\Af\
Oft
1,257 3 1 281 4 1 207 11 139 9 1 033 1 1,260 4
149 2
174 4
150 7
111 5
112 5
170 5
578 8
446 7
496 0
541 4
67 2
092
584 1
439 5
442 1
562 6
56 4
099
544 6
462 4
467 8
588 6
111 5
099
524 2
460 1
489 0
525 8
58 9
106
474 6
448 3
429 3
517 7
19 1
106
611 0
18 6
106
151 6
162 4
537 6
479 1
443 6
582 4
485 4
595 5
71 3
107
623 5
43 2
107
466.3
r
1, 124. 8
1,164.7 •1,200.8
r
!40 6
128.8
'545.9
498.7 r 452.4
526.9
459.4
480.0
133 2
541 2
517 2
457. 7
557 2
120 3
107
' 563. 3
69 3
107
566.0
20.1
« 1, 805
1 716
571 559
197 109
5 179
598 916
217 708
63 939
18 335
4 937
73 366
16 656
38 781
18 990
71 322
13 874
5 179
63 643
15 215
8 144
20 490
4 224
12 776
48 971
527, 800
6 846
53 846
523 007
6 759
26, 510
5 243
48, 947
616
5 470
44 159
558
50,083
4 478
4 350
40 654
602
4 312
35 161
400
3 122
45 580
484
705
3 009
41 538
498
1,525
23,652
578 5
506 4
478 8
1,163.4 1,246.7
r
3,088
3,329
682
1,579
2,089
2,589
5 005
42 410
16 870
3 820
40,138
536
2,136
39 586
17 092
3 590
40 222
552
1,707
66 505
17 771
4,041
44,487
597
2,242
4,590
55,541
20 465
43, 536
16 864
43, 134
18, 970
3,986
5,321
45,r 249
576
5,009
41,845
2,958
2,597
2,693
544
43, 208
621
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value total 9
thous $
Calf and kip skfns
thous skins
Cattle hides
thous hides
127 893
11 220
226
1 044
13 616
18 837
*177
1 856
11 770
171
1,062
11, 862
130
1,103
14,204
*228
975
8 852
100
897
2 000
4 200
6 300
1
11 200
6,200
4,800
5*951
8 000
4 107
5,600
fi17
178
763
'683
*473
1 646
694
2 121
358
550
122
650
135
650
178
650
170
600
.148
.575
.148
2 626
ll' 987
128 679
2 212
12 636
11 724
111
1 302
61 300
36 Oil
7 109
78 400
30 912
5 203
5 900
2 214
Q1 ^
ceo
344
5 200
1 475
330
3 700
*295
369
274
73
$ per Ib
do
460
120
555
112
575
110
625
114
625
118
625
121
625
123
650
128
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
4 008
23 394
24*033
4 247
28 375
6 764
31 413
390
2 094
496
2 821
306
1 895
573
2 560
320
2 201
700
2 651
325
1 911
678
2 443
299
1 910
*571
2 325
Exports:
Upper and lining leather
thous sq ft
71 769
77 266
5 777
5 220
6 078
7 853
Prices, wholesale, f.o.b. tannery:
Sole, bends light
index 1957 59—100
Upper, chrome calf, B and C grades
index, 1957-59-100
97 7
95 1
95 0
96 5
96 5
92 4
91 7
94 2
95 9
95 9
Imports:
Value, total 9
Shpp.p and lamb skins
Qoat and kid skins
thous $
thous pieces
do
Prices, wholesale, f.o.b. shipping point:
Calfskins packer heavy 9J4/15 Ib
Hides, steer, heavy, native , over 53 Ib
LEATHER MANUFACTURES
Shoes and slippers:
Production, total t
thous pairs
Shoes, sandals, and play shoes, except athletic j
thous pairs
Slippers!
* do
Athletic i
do
Other footwear J ...
do
Exports
do
Prices, wholesale, f.o.b. factory:
Men's and boys' oxfords, dress, elk or side
upper, Goodyear welt... index, 1957-59=100
Women's oxfords, elk side upper, Goodyear
welt
index, 1957-59=100..
Women's pumps, low-medium quality, do
8,456
10 937 13 737
163
' 130
1 235
1 180
6 300
9 "^Q
3 300
8
QRQ
7Q
AQO
1 1Q ".
1 300
flfU.
1 889
584
2 335
527
2 183
293
312
1 955 1 987
500
450
2 189
2 330
347
1 966
521
2 520
288
1 845
491
2 327
203
1,558
455
1,791
K -IKQ
3 623
3 090
8 239
7 330
6 248
5 666
7,671
96 5
104 0
104 0
104 0
104 0
104 0
104 0
105 5
105.5
95 9
94 5
98 2
94 9
94 2
97 8
96 6
95 9
94.7
2
322
356
599, 964
645 942
57 460
51 228
59 385
49 490
47 564
53 224
48 651
52 966
48 998
48 364 r 47 653
495 380
95 620
6 949
2,015
529461
106902
47 459
ll' 057
697
172
39 356
9 316
663
155
39 935
6 859
642
128
45 033
7 428
636
127
143
43 461
8 578
771
156
39 610
8 472
758
158
00
2,055
41 387
9 057
626
158
40 086
7 524
46 710
9 933
641
176
2 217
2 884
193
737
213
195
242
143
132
232
217
OOf)
190
122 9
129.7
128.7
131.3
134.2
135.4
135 4
135 4
135 4
131 2
131 2
131 2
131 2
113.1
125.9
118.7
134.4
120.0
132.9
120.0
135.5
120.0
138.0
120.0
138.0
120.0
138.0
121.5
137. 9
124.4
138.0
124 4
138.1
127 2
137 8
127 2
139 0
127 2
139 0
«• Revised.
i Annual total reflects revisions not distributed to the monthly data.
»Average for 11 months.
» Crop estimate for the year.
< Oct. 1 estimate of 1969 crop.
13 456 10 721
' 158
124
1 185
1 153
7*846
*576
fJQQ
9 532
597
146
9 Includes data for items not shown separately.
t Revisions for Jan. 1965-July 1967 will be shown later.
r 37 302
r 9 430
r 726
145
115
1,341
1,575
417
6 226
33,646
1f\A
1 en
m
o
127 2
140 7
207
SURVEY OF CUEEENT BUSINESS
October 1969
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
| 1968
Annual
S-31
Aug.
Sept.
Oct.
1969
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
LUMBER AND PRODUCTS
LUMBER— ALL TYPES
National Forest Products Association:
Production, total
mil. bd. ft._
Hardwoods
do
Softwoods
do
35,275
7,401
27,874
37,094
6,960
30,134
3,221
621
2,600
3,193
592
2,601
3,381
622
2,759
2,981
625
2,356
2,818
514
2,304
2,937
581
2,356
2,993
586
2,407
3,314
622
2,692
3,415
612
2,803
3,257
671
2,586
3,075
674
2,401
3,055
673
2,382
3,113
710
2,403
do
do _
do
35,777
7,603
28,174
38,052
7,762
30,290
3,322
631
2,691
3,205
648
2,657
3,454
657
2,797
3,056
702
2,354
2,794
582
2,212
2,976
694
2,282
3,051
719
2,332
3,343
766
2,577
3,331
674
2,657
3,310
730
2,580
3,066
706
2,360
2,982
686
2,296
3,040
726
2,314
Stocks (gross) , mill, end of period, total — do
Hardwoods
do
Softwoods
_ do. _
5,744
1,377
4,367
5,086
914
4,172
5,194
1,034
4,160
5,196
995
4,201
5,094
975
4,119
5,030
934
4,096
5,086
914
4,172
5,113
879
4,234
5,118
824
4,294
5,162
748
4,414
5,246
703
4,543
5,194
654
4,540
5,218
636
4,582
5,354
641
4,713
5,430
636
4,794
1,112
4,987
1,143
6,087
94
560
81
526
90
685
82
519
84
524
72
353
73
490
73
724
103
664
106
549
101
554
88
537
91
495
8,222
579
9,047
822
666
645
790
742
726
662
674
657
755
822
755
898
530
809
668
818
696
704
612
542
577
439
697
526
600
487
8,046
8,129
957
8,802
8,804
955
723
773
919
721
693
947
774
806
915
671
679
907
638
590
955
663
679
956
664
619
1,001
775
659
1,118
846
810
1,147
703
774
1.074
661
679
1,055
622
610
1,067
645
639
1,073
388
113
275
403
102
301
32
8
24
29
6
23
31
7
24
27
6
21
33
6
27
24
8
16
32
8
24
22
4
18
31
10
21
32
7
26
33
10
22
28
4
24
31
7
23
85.54
107. 85
111. 01
112. 36
113.06
113.06
123.98
130. 11
137. 49
147. 11
140. 41
125.96
109.95
95.71
169. 99
166. 36
163.31
165.94
169. 33
169. 33
175.42
179.83
195. 55 208.29
213. 84
215.44
213.07
213.84
6,381
307
7,145
422
596
367
621
390
647
369
629
391
589
422
648
408
724
487
722
505
579
415
559
355
528
320
573
303
625
330
6,415
6,348
6,870
7,030
579
604
559
598
645
668
596
607
579
558
681
662
634
645
670
704
701
669
666
619
651
563
642
590
607
598
Shipments, total
Hardwoods
Softwoods
_ _ .
_
_
Exports, total sawmill products
Imports, total sawmill products
___
. __
do
do
SOFTWOODS
Douglas fir:
Orders, new
Orders, unfilled, end of period
mil. bd. ft._
do..
Production.
__
. . _
Shipments
Stocks (gross) , mill, end of period
do
__do
do
Exports, total sawmill products
do
Sawed timber .„
, _„ , „. „„ „ _ do
Boards, planks, scantlings, etc
do.__
Prices, wholesale:
Dimension, construction, dried, 2" x 4", R. L.
$perM bd. ft..
Flooring, C and better, F. Q., 1" x 4", R. L.
$ p e r M b d . ft..
Southern pine:
Orders, new.
._ _ _
_ _ _ mil. bd. ft
Orders, unfilled, end of period
do
Production... .
_ do
Shipments
do
Stocks (gross) , mill and concentration yards, end
of period
.mil. bd. ft..
Exports, total sawmill products
M bd. ft
Prices, wholesale, (indexes):
Boards, No. 2 and better, 1" x 6", R. L.
1957-59=100Flooring, B and better, F. G., 1" x 4", S. L.
1957-59=100..
Western pine:
Orders, new
Orders, unfilled, end of period
Production
Shipments
.
mil. bd. ft._
do
._ _
_
do
do
Stocks (gross) , mill, end of period
do
Price, wholesale, Ponderosa, boards, No. 3, 1" x
12", R. L. (6' and over) .
$ per M bd. ft
1,297
1,137
1,189
1,150
1,127
1,116
1,137
1,156
1,145
1,111
1,143
1,190
1,278
1,330
1,339
87,436
90,477
7,538
7,790
5,536
5,222
10,772
621
1,524
9,367
7,699
9,216
6,882
5,764
5,947
103.5
119.0
120.8
121.8
123.5
126.3
129.5
134.0
139.9
148.4
149.8
149.2
143.9
134.9
106.0
113.0
114.5
114.7
114.8
115.5
116.6
121.0
125.6
128.9
130.2
130.2
128.7
125.4
10,531
557
10,881
539
946
608
985
616
1,006
615
789
600
757
539
748
616
731
564
864
530
769
452
839
416
794
389
881
391
818
443
10, 180
10, 401
10,851
10,900
988
978
1,015
977
1,003
1,008
804
804
812
818
702
671
807
783
922
899
908
847
904
875
800
821
849
834
849
811
1,595
1,445
1,396
1,369
1,407
1,402
1,402
1,396
1,426
1,450
1,473
1,534
1,563
1,542
1,557
71.95
87.72
89.03
89.99
94.11
98.64
106.49
115. 76
129. 86
145. 12
163.54
145. 05
110. 28
82.19
547.0
20.1
496.5
23.9
45.1
20.7
47.0
25.6
45.3
26.1
36.2
25.7
32.1
23.9
38.6
25.8
34.1
24.6
31.2
21.8
27.4
17.5
29.2
14.1
30.1
12.7
38.7
16.8
33.6
14.9
551.2
552.2
57.9
459.3
485.1
23.5
38.3
43.0
38.5
34.6
40.5
30.5
41.4
44.8
27.1
34.4
36.1
25.3
31.4
33.0
23.5
38.6
36.7
25.4
32.6
33.3
25.4
33.9
34.0
25.3
35.4
32.9
27.8
33.0
32.4
27.7
31.2
31.6
26.3
29 7
34.1
22.0
31.8
35.0
20.1
HARDWOOD FLOORING
Oak:
Orders, new
...
Orders, unfilled, end of period
. _ mil. bd. ft
_
do
Production
Shipments
Stocks (gross) mill end of period
.
do
do
do
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
thous. sh. tons..
Scrap _
do
Pig iron
do
Imports:
Steel mill products
Scrap
Pig iron..
...
do
do
do
H
176
624
1
269
764
1
207
539
1
306
801
2
327
576
1
132
282
1
173
233
()
441
529
1
349
754
2
411
826
1
353
898
1
471
797
2
470
1,200
l
()
17,960
327
799
2,138
16
92
1,698
17
124
1,485
24
99
1,550
19
72
1,425
38
73
510
24
8
568
25
6
876
31
22
1,505
40
22
1,727
37
41
1,432
63
76
1,412
42
34
1,249
24
40
52,312 2 53, 284
232,654 239,228
85,361 286,766
7,793
7,868
3,830
2,560
5,934
8,414
3,506
2,641
5,787
8,340
3,905
3,105
6,610
8,288
3,823
3,044
6,723
7,987
3,998
3,248
6,892
7,868
4,471
3,383
7,706
7,535
4,334
3,534
7,439
7,467
4,857
3,963
8,311
7,454
4,798
3,877
8,054
7,520
4,790
3,779
8,177
7,369
24.00
25.00
23.79
26.00
25.83
29.00
27.35
29.00
26.38
28.00
25.33
27.00
28.32
30.00
29.10
31.00
29.20
30.00
1,685
7,635
7
2,170
11,455
286
2631
M
l
Iron and Steel Scrap
Production
thous . sh . tons
Receipts
..
do
Consumption
do
Stocks, consumers', end of period
do
Prices, steel scrap, No. 1 heavy melting:
Composite (5 markets)
$perlg. ton
23.01 22.74
* 27. 51
25.06 22.40
Pittsburgh district
do.__.
27.00
27.00 24.00 25.00 25.00
r
2
Revised.
» Preliminary.
1 Less than 500 tons.
Annual total reflects revisions
not distributed to the monthly data.
3 p0r Feb.-Dec. 1967.
Sept.
SURVEY OF CUKKENT BUSINESS
S-32
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1969
1968
1968
Annual
October 1969
Aug.
Sept.
Oct.
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
Aug.
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
184,179
i 83, 016
i 44, 627
85,865
182,531
43, 941
9,098
10, 411
4,555
8,514
8,760
5,082
6,918
8,418
4,742
5,255
5,929
3,114
4,898
2,836
2,958
5,230
2220
1,402
4,967
2,043
1,673
5,884
2,456
1,521
6,104
5,297
2,856
9,514
10, 491
3,426
9,693
11,563
2,906
9,611
12, 052
4,018
3,706
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
do
Consumption at iron and steel plants
do
Exports
do
119, 435
118, 982
5,944
118, 581
120, 449
5,937
13, 915
8,519
493
12,904
7,343
593
12,200
7,798
698
7,737
8,358
522
5,799
9,483
426
3,380
10, 145
306
3,291
9,881
328
4,602
11, 144
162
7,281
11, 013
436
13,330
11,396
656
12, 519
10, 751
523
15, 335
10,385
675
807
do
-do
do
. do
71,238
13, 130
55, 121
2,987
71,649
15, 620
53, 232
2,797
65, 395
15, 782
47, 573
2,040
71,095
15,536
53,135
2,424
74, 474
14,230
57,537
2,707
73,278
13,556
56, 916
2,806
71,649
15,620
53,232
2,797
67,838
18,801
46,534
2,503
63,694
21, 725
39,950
2,019
60,000
25, 153
33,416
1,431
56,765
26,105
29,683
977
57, 742
25,127
31,617
998
57,602
23, 267
33,410
925
60, 484
20, 820
38,397
1,267
do
1,086
953
92
103
28
52
83
92
40
60
126
81
69
95
88,780
89,890
6,333
6,376
5,481
5,666
5,916
6,039
6,218
6,288
7,020
7,042
7,296
7,402
7,225
7,290
8,196
8,238
8,150
8,083
8,414
8,282
8,055
7,836
62.70
63.00
63.50
63.00
63.50
Stocks, total, end of period
At mines
At furnace yards
At U.S. docks
Manganese (mn. content), general imports
105
Pig Iron and Iron Products
Pig iron:
Production (excluding production of ferroalloys)
thous. sh. tons 186,984
Consumption
do
87,371
Stocks (consumers' and suppliers'), end of period
thous sh tons
2,842
Prices:
Composite
$ perlg. ton-62.70
Basic (furnace)
do
63.00
Foundry, No. 2, Northern
do
63.50
Castings, gray iron:
Orders, unfilled, for sale, end of period
thous sh tons
913
Shipments, total
do
14, 329
For sale
_
do
8,128
Castings, malleable iron:
Orders, unfilled, for sale, end of period
thous. sh. tons. _
120
Shipments, total
do
1,041
For sale
. ._
_.
_
do
614
2,340
2,644
2,584
2,456
2,386
2,340
2,160
2,063
1,971
1,933
1,864
62.70
63.00
363.50
62.70
63.00
63.50
62.70
63.00
63.50
62.70
63.00
63.50
62.70
63.00
63.50
62.70
63.00
62.70
63.00
63.50
62.70
63.00
63.50
62.70
63.00
63.50
62.70
63.00
63.50
62.70
63.00
63.50
923
15,034
8,710
909
1,184
723
899
1,223
747
886
1,307
768
875
1,187
675
923
1,099
607
1,021
1,255
676
1,019
1,288
718
1,023
1,376
774
993
1,391
802
1,032 ' 1, 019
1,353 ' 1,361
••815
778
137
1,094
586
122
79
46
131
88
49
116
102
56
130
89
46
137
103
49
138
104
54
142
102
55
129
110
59
130
105
60
127
97
54
119
96
54
8,956
108.6
8,086
101.3
9,006
109.2
9,590
120.1
10, 421
126.3
11,083
134.3
10, 915
146.5
12,400
150.3
12, 143
152.1
12,356
149.8
11,810
147.9
279
129
109
289
135
116
331
141
119
347
132
112
371
143
123
392
153
132
432
163
138
430
169
145
442
168
140
453
172
135
'457
••161
••134
454
162
136
5,263
5,215
6,316
6,007
6,320
7,280
7,092
8,199
8,269
8,304
7,971
7,629
254
370
513
63
291
385
457
72
350
438
540
110
479
428
523
99
497
421
544
118
458
458
628
131
453
462
623
142
514
532
709
165
494
533
734
156
520
551
756
140
450
532
749
130
466
552
729
102
887
477
279
123
666
205
320
1,984
616
787
818
444
251
116
520
210
544
1,919
530
789
965
551
267
137
600
252
770
2,293
685
943
937
559
239
131
626
239
334
2,343
723
985
904
547
221
126
657
222
310
2,649
941
1,054
1,096
699
222
166
749
249
504
3,006
897
1,379
1,052
678
213
152
732
239
497
2,892
914
1,294
1,216
776
263
167
1,017
286
576
3,185
968
1,419
1,304
795
320
178
930
303
553
3,263
1,034
1,448
1,285
758
352
165
842
284
575
3,352
1,056
1,482
1,229
716
337
167
848
293
563
3,177
1,080
1,312
1,145
669
325
143
759
252
582
3,042
1,013
1,283
1,089
1,181
708
144
87
51
Steel, Raw and Semifinished
Steel (raw):
Production
thous sh tons 1127,213 1131,462
Index
daily average 1957-59—100
131.0 1135.0
Steel castings:
Orders, unfilled, for sale, end of period
thous. sh. tons_.
371
293
Shipments, total
do
1,731
1,857
For sale, total
do
1,437
1,556
11,365 "11,408
137.8 "138.3
Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous. sh. tons.. i 83, 897 i 91, 856
By product:
4,061
Semifinished products
do
4,821
6,133
Structural shapes (heavy), steel piling
do
6,149
7,948
Plates
do
8,401
1,434
Rails and accessories
do
1,462
Bars and tool steel, total
do
Bars: Hot rolled (incl. light shapes)
do
Reinforcing
do
Cold
finished
do
Pipe and tubing...
do
Wire and wire products
do
Tin mill products
do
Sheets and strip (incl. electrical), total. _ . do
Sheets: Hot rolled
do
Cold rolled
do
By market (quarterly shipments) :
Service centers and distributors
Construction, incl. maintenance
Contractors' products
Automotive _
do
do
do
do
Rail transportation
do
Machinery, industrial equip tools
do
Containers, packaging, ship, materials. _ _ do
Other
do
Steel mill products, inventories, end of period:
Consumers' (manufacturers only). .mil. sh. tonsReceipts during period
do
Consumption during period
do
Service centers (warehouses)
do
Producing mills:
In process (ingots, semifinished, etc.)
do
Finished (sheets, plates, bars, pipe, etc.). do
13,053
7,961
3,249
1,733
8,969
3,133
6,591
32, 574
9,312
14,709
13,660
8,497
3,241
1,815
10, 078
3,393
7,267
36, 624
10, 782
16, 336
i 14, 863 116,099
i 11, 375 1 12, 195
14,582 14,922
i 16, 488 119,269
3,748
3,030
1,171
3,962
3,283
2,279
953
3,642
4,021 21,564 21,520 21,556 21,562
2,720 2 1, 071 21,102 21,055 2 1, 016
2414
2431
2399
2425
1,142
4,828 21,597 21,583 21,399 21,313
i 3, 225
14,994
i 7, 255
i 21, 115
13,048
15,469
i 7, 902
i 22, 952
593
1,174
1,949
7,168
707
1,028
1,493
5,259
916
1,401
1,741
5,783
9.1
62.5
63.5
10.5
70.1
68.7
5.6
6.3
6.4
6.1
12.5
9.6
9.9
9.0
9.8
7.7
9.6
7.9
14.7
5.0
5.3
Steel (carbon),finished,comnosite nrice $ ner Ib .
.0850
.0873 .0882
.0900
r
Revised.
* Preliminary.
i Annual total; monthly revisions are not available.
12.0
5.2
6.5
13.3
4.3
5.7
2
10.0
5.6
6.1
10.1
5.8
5.7
2346
2311
2294
2247
2529
2516
2499
2435
2619
2629
2631
2618
22,129 22,212 22,125 22,026
10.1
6.2
6.2
9.8
5.6
5.9
10.0
5.2
5.0
5.8
5.6
'5.7
f 5.7
10.3
9.6
10.4
9.5
10.5
9.5
10.8 » 10.9
' 9.6 P 9.5
.0908
.0908
10.5
4.8
5.3
5.9
5.9
6.3
5.9
5.6
5.5
9.3
8.0
9.5
8.3
9.9
9.0
10.1
9.2
10.1
9.5
10.3
9.5
.0891 .0891
.0903
For eleven months.
.0903
.0897
.0871
.0872
F0r month shown.
3
10.1
6.1
6.1
* 10.0
v 5.3
v 5.3
10.1
6.0
6.0
11.0
4.7
5.7
Sept.
October 1969
SURVEY OF CURRENT BUSINESS
1967
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1968
Annual
S-33
1968
Aug.
Sept.
Oct.
1969
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
METALS AND MANUFACTURES—Continued
NONPERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. sh. tons.. 3,269.3
Recovery from scrap (aluminum content).. do — 1820.0
Imports (general):
Metal and alloys, crude
Plates sheets etc
Exports metal and alloys, crude
3, 255. 0
873.0
246.5
72.0
269.0
68.0
293.4
78.0
291.6
72.0
300.1
72.0
313.6
77.0
286.1
77.0
317.2
77.0
309.4
91.0
323.8
90.0
313.0
88.0
321.2
71.0
do
do
do ..
450.5
56.3
209.0
685.2
61.8
180.3
40.3
7.1
13.1
52.5
4.6
20.4
49.7
5.3
16.7
38.4
5.5
18.1
51.8
4.7
16.4
30.5
1.4
11.6
45.1
4.8
7.9
49.2
5.7
12.1
57.9
7.0
31.8
42.1
5.6
23.7
41.1
5.4
24.5
41.4
5.7
38.1
37.4
4.3
34.9
Stocks, primary (at reduction plants), end of
period
thous sh tons
Price, primary ingot, 99.5% minimum... $ per lb_.
218.9
.2498
70.9
.2557
91.2
.2600
93.9
.2600
99.2
.2600
99.4
.2600
70.9
.2600
«64.6
.2655
52.9
.2700
54.6
.2700
51.0
.2700
45.0
.2700
43.4
.2700
45.6
.2700
.2700
8,836.9
6,350.6
2,868.1
1,534.7
9, 991. 7
7,209.8
3,404.6
1, 568. 3
750.2
550.0
252.7
120.5
779.9
564.0
255.4
125.4
839.8
625.7
284.8
145.8
807.0
583.7
268.4
135.0
853.2
575.0
270.1
133.4
885.0
642.8
307.9
156.5
880.8
637.7
322.0
144.4
907.6
659.3
317.9
151.6
909.4 ' 931. 5
651.4 '687.5
312.1 337.4
151.7
152.7
'928.8
••656.6
' 321. 5
' 145. 1
914.0
633.1
303.7
124.1
thous. sh. tons._ 954.1
1,133.0
do
846.6
do
286.4
do
394.5
11,204.6
1, 437. 4
1, 160. 9
276.5
400.9
127.8
168.8
136.9
31.9
31.4
120.5
153.4
128.6
24.8
32.0
127.8
181.0
151.0
30.0
32.6
122.9
165.2
139.4
25.9
33.7
123.9
162.0
131.5
30.5
34.7
120.9
154.0
131.4
22.6
37.5
118.6
131.2
115.4
15.8
32.0
132.9
155.3
126.5
28.8
37.9
135.6
149.3
124.3
25.0
36.4
128.6
151.0
127.3
23.7
36.8
644.1
328.3
716.7
405.4
53.1
13.3
43.0
8.2
29.8
5.5
35.5
7.2
34.5
4.7
11.7
8.3
37.4
6.4
39.5
10.9
40.8
11.0
44.2
13.7
241.8
159.4
360.8
240.7
42.9
<31.8
52.6
39.9
35.0
25.4
35.2
28.1
29.2
23.0
15.8
13.0
18.2
14.6
31.6
24.0
27.7
19.0
24.0
15.7
1,948.2
Consumption refined (by mills, etc )
do
169.5
Stocks refined end of period
do
114.1
Fabricators'
do
Price, electrolytic (wirebars), dom., delivered t
$ per Ib.. 2.3863
1,876.4
171.5
114.9
168.8
214.8
159.6
187.8
199.8
148.9
203.7
175.2
130.9
179.6
165.2
112.7
162.0
171.5
114.9
179.6
187.6
118.4
174.8
179.1
105.2
180.3
165.9
103.5
187.0
153.8
106.6
183.6
152.3
108.5
194.1 P 141. 7 * 167. 5
138.8 P164.5 » 159.4
104.1 P 122. 7 » 115.8
8.4225
.4210
.4212
.4211
.4211
.4211
.4390
.4423
.4479
.4495
.4589
.4642
Aluminum shipments:
Ingot and mill products (net)
Mill products, total
Plate and sheet (excluding foil)
Castings
Copper:
Production:
Mine, recoverable copper
Refinery primary
From domestic ores
From foreign ores
mil. Ib
do
do
do
Imports (general) :
Refined, unrefined, scrap (copper cont.) ..do —
Refined
do
Exports:
Refined and scrap — - do
Refined
do
Copper-base mill and foundry products, shipments
(quarterly total) :
Copper mill (brass mill) products
mil Ib
Copper wire mill products (copper cont ) do
Brass and bronze foundry products
do
Lead:A
Production:
Mine, recoverable lead
33.7
8.5
36.3
9.4
23.7
17.0
23.2
16.3
28.9
18.5
.4645
.4832
i 359. 2
1550.0
31.0
44.6
29.3
46.4
42.1
50.4
37.9
48.0
37.9
44.4
37.2
49.9
35.1
49.3
38.8
53.8
42.6
50.9
44.2
49.7
'45.5
50.1
44.4
44.1
488.4
1,260.5
424.6
11,328.8
27.6
110.1
36.7
113.5
30.3
130.6
32.3
115.4
28.1
112.1
19.1
115.0
26.3
104.8
36.5
116.5
47.1
114.4
32.1
115.9
34.6
114.6
38.1
100.5
146.8
155.2
157.7
157.1
153.2
146.8
139.4
143.5
134.0
136.7
135.5
135.0
150.1
15.1
83.8
29.6
105.1
22.3
100.8
19.5
84.0
15.2
83.8
15.1
83.8
14.1
82.4
10.1
87.9
11.2
105.7
12.9
121.3
18.7
127.6
18.1
135.6
15.0
142.4
54.5
.1321
53.1
.1250
50.9
.1250
50.1
.1279
48.1
.1300
54.5
.1300
55.4
.1341
54.5
.1400
56.4
.1400
55.2
.1440
54.3
.1450
51.6
.1486
55.9
.1545
.1550
3,255
49,924
22,667
i 3,176
80,638
57, 848
3,266
57,358
122,495
1 2, 978
81,961
58,859
771
3,868
1,770
255
6,270
4,290
0
6,847
2,060
250
6,660
4,650
0
4,359
2,165
245
7,510
5,070
0
6,302
1,930
255
6,495
4,555
85
4,226
1,765
235
6,485
4,470
0
2,396
1,965
225
6,920
4,810
0
6,524
1,875
225
6,330
4,585
0
5,218
1,970
255
6,755
4,890
0
6,590
2,120
235
7,250
5,145
0
7,177
1,935
275
7,130
5,075
0
4,544
0
3,607
0
4,738
6,905
4,965
6,435
4,870
2,509
do
do
18, 662
$ perlb__ 1.5340
5,027
18,534
1. 4811
84
15,680
1.4185
211
18, 145
1.4804
564
16,360
1. 5107
805
460
16,270 18, 534
1. 6214 1.6346
110
14,985
1. 6250
198
13,810
1. 6518
244
15,515
1. 5552
137
15,635
1. 5681
154
14,940
1. 5667
581
15,325
1.5900
124
14, 860
1.6200
549.4
1529.4
46.9
44.4
44.2
43.9
43.8
41.9
42.6
44.4
47.4
47.0
'46.2
44.7
534.1
221.4
546.4
305.5
53.9
22.9
51.1
14.9
41.1
24.4
54.9
23.6
44.1
31.2
48.8
16.7
43.6
22.7
43.1
28.4
37.6
29.8
59.6
32.1
71.6
25.9
49.4
32.8
i 114. 3
1240.9
i 124.1
i 270. 6
9.5
19.4
10.9
19.9
10.7
19.8
11.4
19.9
10.5
19.3
10.8
19.0
9.3
18.8
10.1
19.7
10.8
19.3
11.9
19.7
10.7
19.0
10.0
18.6
91.9
6.5
116.7
00
91.4
6.0
108.9
1.3
94.0
6.1
119.1
(')
86.6
5.3
113.8
94.5
6.1
126.8
4.9
92.5
5.3
117.8
.1
93.7
5.7
117.8
.2
92.7
5.0
115.8
.4
91.4
4.6
102.7
.2
Ig tons
do
do
do
do
do
Zinc:A
Mine production, recoverable zinc
thous. sh. tons..
Imports (general):
Ores (zinc content)
do
Metal (slab, blocks)
do_-_.
Consumption (recoverable zinc content) :
Ores
do
Scrap, all types
do
1
688
559
222
770
630
239
Slab zinc:
Production (primary smelter), from domestic
89.5
and foreign ores
thous. sh. tons
87.8
86.7
1938.8 1,009.3
Secondary (redistilled) production
do
6.1
6.3
74.0
7.0
»73.5
Consumption, fabricators'
do
123.7
1,236.8 11,333.7 104.7
108.8
Exports..- _
do
16.8
2.3
1.6
33.0
(')
Stocks, end of period:
82.2
Producers', at smelter (AZI)O
do ... 81.9
84.4
70.3
67.4
Consumers'
do
78.9
96.3
85.2
74.0
102.5
Price, Prime Western (East St. Louis) _$ per lb- . .1384
.1350
.1350
.1350
.1350
' Revised.
* Preliminary.
i Annual total; monthly revisions are not available.
2 Jan.-Aug. average.
3 Less than 50 tons.
* Reported yearend stocks. See BUSINESS
STATISTICS note.
5 Average for Apr-Dec.
«Beginning Jan. 1969, data are not comparable with those for earlier periods; stocks reflect different method of reporting by one
producer.
AData reflect sales from the Government stockpile.
831
617
269
00
.5176
832
671
260
316.9
1553.8
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content), ABMS
thous. sh. tons._ 160.2
Refiners' (primary), refined and antimonial
<23.4
(lead content)
thous sh tons
<105.8
Consumers' (lead content) c^
do
Scrap (lead-base, purchased), all smelters
(gross weight)
thous sh tons
*58.0
Price, common grade (N.Y.)
$ perlb.. .1400
32.5
15.9
2,757
2,364
968
Imports (general), ore (lead cont.), metal.. .do
Consumption total
do
Exports, incl. reexports (metal)
Stocks pig (industrial) end of period
Price, pig, Straits (N.Y.), prompt
125.5
130.4
108.9
21.4
39.1
2,595
2,356
966
thous. sh. tons__
Tin:A
Imports (for consumption) :
Ore (tin content)
Bars, pigs, etc
Recovery from scrap, total (tin cont.)
As metal
Consumption, pig, total
Primary
129.3 ' 123. 2
134.5
141.8
113.5
118.2
21.0
23.6
37.5
40.5
.2700
36.6
.1550
83
1. 6590
1.6564
47.1
27.6
2.2
45.9
37.9
51.1
42.9
38.1
43.7
42.7
48.8
97.9 ' 101. 8
97.3
109.2
99.3
94.6
.1486
. 1450
.1450
.1450
.1400
.1450
.1400
.1400
t Revised. Beginning in the June 1969 SURVEY, averages are delivered prices; differential
between delivered and former refinery price is 0.400 cents per lb.
cfConsumers' and secondary smelters' lead stocks in refinery shapes and in copper-base
scrap.
0 Producers' stocks elsewhere, end of Sept. 1969,12,000 tons.
67.6
73.9
.1350
67.4
96.3
.1350
50.9
97.5
.1384
SURVEY OF CUKRENT BUSINESS
S-34
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
| 1968
Annual
October 1969
1969
1968
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
METALS AND MANUFACTURES— Continued
HEATING EQUIPMENT, EXC. ELECTRIC
Radiators and con vectors, shipments:
6.4
Cast-iron
mil. sq. ft. radiation
»9.8
2
79. 2
Nonferrous
do
84 8
Oil burners:
i 513. 2
677.7
Shipments
__
thous
Stocks, end of period
do
353.9
29.5
Ranges, gas, domestic cooking (incl. free -standing,
set-in, high-oven ranges, and built-in oven
broilers), shipments
thous-. 12,084. 5 2,273.2
Top burner sections (4-burnerequiv.), ship... do
206.1
194.3
Stoves, domestic heating, shipments, total — do
Gas
do
Warm-air furnaces (forced-air and gravity air-flow),
shipments, total
thous__
Gas
do
Water heaters, gas, shipments ._ _ _ _ _
do
.5
86
.8
.7
11 2
.5
77
.4
6.4
.5
7.7
.6
6.4
.6
6.3
.3
5.1
.3
5.7
.4
6.6
.3
5.8
63.7
35.1
73.7
28.4
82.6
27.3
68.3
27.0
55.3
29.5
59.8
24.5
50.1
28.2
52.5
29.3
51.7
28.2
46.0
21.2
'52.2
27.9
40.7
30.7
191.5
17.8
211.2
19.5
217.0
18.4
201.0
16.7
202.8
16.6
179.7
14.7
191.7
16.6
226.3
18 7
197.3
15.5
203.0
17.0
213.3
17.8
164.8
i 1,346.8 1,362.9
i 920.0
968.5
139.4
105.4
174.9
125.1
197.7
144 4
143.7
108.7
76.7
52.3
73.3
42.6
61.4
32.1
83 4
51.5
80.4
51.8
85.9
60.7
98.2
68.6
128.5
95.7
i 1,448.7 1, 727. 1
11,145.7 1, 372. 0
2,602.3 2, 705. 9
149.6
113.3
218.1
183.1
137.2
209.4
230.4
177.3
282.7
174.2
134.6
230.0
144.7
115.2
207.6
147.9
122.6
246.3
136.6
112.5
231.9
142.1
116.6
244 7
133.0
110.7
270 1
143.9
120.2
227.7
147. 8
120. 3
210 8
154 4
124.7
210 8
270.3
247.8
177.4
219.1
307.0
355.6
503.2
325.1
328.0
628.5
310 2
268 6
419 7
469.1
1 121. 2
1 12.1
164.6
9.7
.7
2.8
8.2
.8
4.3
13.1
1.0
9.0
9.2
1.7
4.0
8.0
1.0
4.6
6.9
.8
3.9
12.0
.5
3.8
12.4
1.1
6.7
17.0
1.9
9.8
9.7
.6
6.6
10.4
.8
6.9
8.4
12
4.7
6.4
.3
4.0
r
T
MACHINERY AND EQUIPMENT
Foundry equipment (new), new orders, net
mo. avg. shipments 1957-59=100. . 300.5
Furnaces (industrial) and ovens, etc., new orders
1140.7
(domestic), net
_ _
mil. $
i 12.3
Electric processing
do
171.6
Fuel-fired (exc. for hot rolling steel)
do
Material handling equipment (industrial):
Orders (new), index, seas, adjd"
1957-59=100__
Industrial trucks (electric), shipments:
Hand (motorized) _ _ _ _ _ _
number
Rider-type
do
Industrial trucks and tractors (internal combustion
engines), shipments
number
Machine tools:
Metal cutting type tools:f
Orders, new (net), total
Domestic
_
Shipments, total
Domestic
_._
Order backlog, end of period
Metal forming type tools :t
Orders, new (net), total
Domestic
_ _
Shipments, total. _
Domestic
Order backlog, end of period
197.9
220.4
200.6
219.2
218.2
231.0
233.8
254.9
275.4
216 0
288 1
287 8
233 8
241 3
11, 133
12, 174
10, 753
12, 243
907
807
891
1,007
1,055
1,089
939
1,028
845
1,027
1,116
1,026
1,081
1,046
1,248
1 267
1,221
1,284
1,394
1,257
1,336
1,205
1,037
1 494
1,041
900
41,996
42,601
3,093
3,600
4,123
3,473
3,349
4,183
3,850
4 257
3,958
5,137
4 223
3 777
4,074
mil. $.. 1,134.95 1,079.35
1, 024. 65
959.90
do
do
1, 353. 20 1, 358. 30
do
1, 211. 05 1, 238. 30
do
809.6
1,088.5
79.75
74.95
88.95
82.40
909.2
71.05
62.30
115.55
109.15
864.7
78.55
70.45
107. 75
100.90
835.5
97.60
88.60
103. 55
96.50
829.6
110. 15
98.55
130. 15
122.65
809.6
91.20
76.00
86.45
82.80
814.3
93.15
83.15
97.70
90.60
809.8
115 90
100 85
105 30
94.70
820 4
182. 35
173 60
101. 10
91.95
901.6
113.20
99 05
98.45
88.90
916.4
112.70
99 90
122.20
112.40
906 9
87. 35
70 00
83 85
75. 05
910 4
67.60
57.35
72.80
61.95
905.2
394.75
360.55
368.60
324.45
254.5
26.75
23.40
32.90
30.40
179.9
22.75
20.90
26.90
24.95
175.7
56.35
54.10
32.90
29.15
199.2
80.20
76.70
26.50
23.05
252.9
39.55
33.90
37.95
33.75
254.5
36.30
32.75
28.30
25.85
262.5
45.70
43.10
32.80
28.70
275.4
45 75
40 70
33 55
30 85
287 6
90.20
86 95
29 05
25 70
348 7
55.70
52 75
31 95
29.50
372 5
49 70 r 40 65
45 60 r 37 10
40 00 r 27 90
35 85 r 26 25
382 2 r 394 9
39.45
34 00
29 30
27.40
405 1
147.2
44.9
* 43 1
*46.2
4
45 5
4
44 6
* 88 6
479.8
4
7Q 1
4
42 9
do__
do
do . _ _
do
do
286. 65
248.15
452. 75
406.90
228.3
Other machinery and equip., qtrly. shipments:
Tractors used in construction:
Tracklaying, total _ . .
mil $
17377.8
Wheel (contractors' off-highway)
do
92. 8
Tractor shovel loaders (integral units only),
wheel and tracklaying types
mil $ 1 7 407 0
Tractors, wheel (excl. garden and contractors'
off-highway types)
mil $
1986 2
Farm machines and equipment (selected types),
excl tractors
mil $
1 203 5
i 453. 4
120.3
19.3
i 502. 6
125.3
129.7
163.7
1938 4
178.6
220 8
222.5
1 221 5
266.4
237 0
363.5
109.6
r
r
r
r
317.2
ELECTRICAL EQUIPMENT
Batteries (auto, replacement), shipments... thous __
Household electrical appliances:
Ranges, incl. built-ins, shipments (manufacturers'), domestic and export
thous
Refrigerators and home freezers, output
1957-59=100-Vacuum cleaners, sales billed
thous. _
Washers, sales (dom. and export)t-_ _ - do
Driers (gas and electric), sales (domestic and
export)
thous..
Radio sets, production©
do
Television sets (incl. combination), prod.O do .
Electron tubes and semiconductors (excl. receiving,
power, and spec, purpose tubes), sales
mil. $__
Motors and generators:
New orders, index, qtrly
_
1947-49=100
New orders (gross):
Polyphase induction motors, 1-200 hp
mil. $__
D.C. motors and generators, 1-200 hp
do
3,768
2,680
2 329
2 094
1 950
194.1
194.0
196.7
208 0
212 9
159.7
699.7
298.7
188.0
560.7
355.5
205.1
551.6
362.3
210 2
666 4
377.5
219 7
602 5
332.8
257.6
274.4
247.7
237.2
1,982 82,449
1,063 8 1, 150
1,769
960
1,714
1,002
56.9
60.6
32, 061
34,960
3,000
3,567
4,029
3,722
3,673
1,909.7
2, 309. 4
' 180. 3
170.5
232.5
201.7
145.8
5,677.4
4, 376. 0
165.6
6, 653. 1
4, 517. 9
114.1
551.1
431.3
182.2
642.6
445.1
191.3
682.1
455.9
166.3
563.4
344.8
2,642.3
2,861.8
275.5
318.7
375.7
289.2
21,698
10,881
22,566
11,794
1,875 5 2, 415
876 5 1, 237
1,950
1,156
712.0
690.1
59.5
60.4
205
206
«97.6
47.5
«96.6
49.5
57.3
55.8
•8.1
4.0
« 8. 9
4.4
59.0
205
208
•9.0
4.8
•7.2
3.7
•8.9
3.9
2 324 r 2 485
3 120
194 2
200 6
209 2
195 2
212 2
515 9
332.9
207 3
514 6
381.5
196 6
499 6
395.4
125 0
562 8
417.9
433.5
173.3
146.1
190.0
220.9
276.1
350.4
82,085
81,235
1,532
865
1,534 51,860
845 51,070
68.1
64.4
64.5
69.5
•8.7
4.2
^8.9
4.8
51.8
63.5
6
68.0
3.8
236
210
«8.0
3.6
1,239 ' 1, 827 5 2, 212
'877 5 1, 166
614
8
99
42
0
98
56
6
9. 5
5.3
8. 8
4.8
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
873
952
880
'807
Production
thous. sh. tons.. 12,256
1,014
926
988
1,038
1,021 1,000
960
900
917
11,631
1,016
47
194
111
Exports
do
59
14
76
18
595
53
39
37
17
518
75
48
Price, wholesale, chestnut, f.o.b. car at mine
$ per sh ton
12 892
13 813 13 475 13 825 14 175 14 175 14 955 14 955 15 002 15 002 14 708 14 220 14 220 14 778
Bituminous:
Production
thous. sh. tons
552. 626 ' 545. 245 '50.035 '45. 710 ••37. 710 '44. 612 '45.227 45.905 39. 990 42. 425 46.870 48. 705 43.210 35,080 45, 585
2
' Revised.
i Revised total; monthly revisions are not available.
Total for 11 months.
cf Effective with Apr. 1969 SURVEY, data revised back to Jan. 1966.
3 Reported yearend stocks. See BUSINESS STATISTICS.
* For month shown.
« Data cover
fRevised series. Monthly data for 1956-66 are on p. 35 ff. of the Mar. 1968 SURVEY.
5 weeks; other periods, 4 weeks.
« Excludes orders for motors 1-20 hp.; domestic sales of
t Revised to include combination washer-driers.
this class in 1968 totaled $108.6 mil.; July and Aug. 1969, $10.0 and $8.6 mil.
i Effective 1st
0Radio production comprises table, portable battery, auto, and clock models; television
quarter 1967, tractor shovel loaders include types not
previously covered and off-highway
sets cover monochrome and color units.
8
wheel tractors exclude types previously covered.
Data cover 6 weeks.
SURVEY OF CURRENT BUSINESS
October 1969
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
| 1968
Annual
S-35
1969
1968
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
May
June
July
584
383
643
552
39,004
23,142
15, 452
7,954
39,466
24,391
14,709
7,743
42,053
27, 173
14, 379
7,812
530
374
335
442
77 054 82 084
58 267 62,097
18 699 19, 875
8 001 8,743
82,763
62, 297
20, 316
8,822
74 554
56,758
17, 637
6,627
Apr.
Aug.
Sept.
PETROLEUM, COAL, AND PRODUCTS—Continued
COAL— Continued
Bituminous— Continued
Industrial consumption and retail deliveries,
total 9
thous sh tons
Electric power utilities
do
IVIfc and mining industries total
do
Coke plants (oven and beehive)
do
Retail deliveries to other consumers
do
Stocks, industrial and retail dealers', end of period,
Electric power utilities
Mfg and mining industries total
Oven-coke plants
do
do
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
COKE
Production:
Beehive
thous sh tons
Oven (byproduct)
do
Petroleum coke§
do
Stocks, end of period:
Oven-coke plants, total
do
At furnace plants
do
At merchant plants
do
Petroleum coke
do
Exports.. _ .
. ___
do
480, 416
271 784
191 066
92 272
498,830
294 739
188 450
90 765
41,458
26 530
14 186
7 295
37, 471
22 850
13 624
6 646
39,636
23 764
14 467
6 600
17 099
15 224
681
943
1 357
93 128
69, 737
23 212
10 940
85
64
21
9
492
529
754
545
96 220
70,633
25 372
11,209
91 966
68,880
22 885
9,540
525
168
169
537
91
67
23
10
41, 357
24 781
15 196
6 710
1 339
90 518
68,613
21 725
9,554
48,558
29,041
16 919
7 452
42,268
24, 771
15 490
6 971
44, 410
26,304
16 594
7,665
1 830 2 597
2 007
1 509
78 152 76 056
58,713 57 018
19 291 18 913
8,650 8*222
72 416
54,762
17 569
7,422
46, 472
27 869
16 759
7 302
85 525
64,168
21 169
9,537
38
22
15
7
179
188
209
215
201
180
188
148
125
85
88
112
150
159
49, 510
50,636
5,868
5,406
3,783
4,534
4,249
3,654
2 939
2,680
4 503
6,010
5,712
4,836
5 217
6 795
5 397
6 944
5 336
6 727
5 336
6*810
5 467
7.021
5 607
7 421
5 804
7 488
5 804
7.456
5 804
7 456
5 804
7 456
5 847
6 988
5 897
6.988
5.932
7.081
6.068
7.343
806
63,775
18 187
774
62, 878
19,038
60
5,045
1,692
51
4,633
1,627
46
4,613
1,622
48
48
5,137
4,669
1 577 1 651
43
5,177
M81
42
4 873
1 482
52
5,297
1,675
60
5 312
1 674
53
5,523
1,689
53
5,347
1,771
47
5,126
1,811
70
5,412
5 467
4 961
506
1 364
710
5 985
5,637
348
1,239
792
4,738
4,329
409
1,281
54
5 393
4,969
424
1,319
58
5,759
5,364
395
1,233
68
5 985
5 929
5,637
5,590
348
338
1 240 1,239
99
82
5,865
5,542
323
1,298
105
5 565 5,019
5 278 4,796
223
286
1 299 1,261
157
77
4,162
4 507
3,969
4 310
193
*197
1 309 1,318
130
148
3,896
3,729
167
1,382
178
3,764
3,594
169
1,314
181
3,816
3,629
186
15 367
3 02
3 582 6
93
14 426
3 06
3 774 4
93
1 162 1 350
3 06
3 06
312 4
328 5
93
92
1,185
3 06
319.5
91
1 159
3 06
304 8
90
1 877
3 06
324 7
92
1,156
3 06
303 8
86
799
3 06
299 3
94
1,344
3 ig
325 7
92
1,094
3.21
312.1
92
1,036
3.21
326.2
90
1,277
3.21
324.7
92
1 091
3 21
339 2
94
4,927
121
PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed
Price at wells (Oklahoma)
Runs to stills
Refinery operating ratio
number
$ per bbl
mil bbl
% of capacity
All oils, supply, demand, and stocks :
New supply, totaled
Production:
Crude petroleum
Natural-gas plant liquids
Imports:
Crude and unfinished oils
Refined products
4 656 3
4 921 0
409 7
398 6
414.3
399 9
427 0
427 7
388 9
435 9
418.8
429.1
417.1
424 5
do
do
3 215 7
514 5
3 328.9
550 3
283.0
45 7
268.0
44 6
276.4
46.7
269 3
46 5
276 1
48 3
275.0
48 7
249.4
45 5
280.1
49 7
277.0
47.6
289.3
49.3
288.3
47.2
287.2
48 7
do
do
411 6
514 3
474 7
563 7
43 2
37 5
42 5
43 1
45 9
45.1
40 8
43 1
52 1
50 0
37 e
66 4
40 1
53 9
48 4
57 9
46.1
48.1
46.6
43.8
43 8
37.8
43 2
45 4
mil bbl
Change in stocks, all oils (decrease,—)
do
63 0
55 5
19 6
21 9
9.1
—5 8
—36 1
—61 2
—32 6
—2 0
17.4
28.9
25.8
18 2
Demand, total
Exports:
Crude petroleum
_
Refined products
Domestic demand, total 9
Gasoline _ _
Kerosene
do
4 593 3
4 872 8
393 9
375 8
406 8
406 8
463 3
490 3
420 7
437 8
402.8
401.9
390 7
408 8
do
do
do
do
do
.1
26.5
1.8
83 4
68
85 5
386.9
4 481 2 4, 787. 6
1 842 7 1 955 8 179 3
62
103.1
100 1
.1
74
368.3
159 8
66
.1
65
400.2
170 1
78
.4
66
399 8
158 4
10 5
.1
7 2
456 0
161 7
13 4
0
58
484.5
158 4
15.5
.2
61
414 3
145 2
11 9
.2
69
430.7
159 8
10 2
.1
6.7
396.0
168.6
5.8
.2
7.6
394.1
177.6
5.5
75
383.2
173 1
4.5
0
6 5
402.3
188 4
5.6
53.8
48 3
29.7
62.4
50 9
32 9
76 4
57 6
28 5
106 7
71 4
29 4
119.2
82 5
28 9
96 3
68 1
26 2
91.1
68 1
30 6
66.9
58.6
28.7
58.7
51.8
29.8
51.6
47 5
31 4
49.9
48 4
31.7
41
48 2
40
44
38
20 0
141 1
17 6
17 0
90
27 1
385 7
32 9
27 8
36 4
999 e 1 010 5 1 032 5 1 041 5 1 035 7
272.2
266 4
262.8 266 3 271 6
102 7
98 9
98 4
99 9
101 5
641 5
671 2
628 5
664 2
673 7
39
55
42 7
999 6
272 2
98 9
628 5
3.7
40
52 1
36
51
39 1
4 0
57
38 2
4.2
93
31 6
4.4
13.5
29.1
41
17 0
29 4
938 3
279 5
96 0
562 8
905 7
265 3
99 4
541 1
904 7
264 2
100 6
539 9
922 1
273 2
106 6
542 3
951.0
281.3
111.5
558.3
976 9
284 5
110 3
582 0
4 3
18 4
30 4
995 1
277.5
108 7
608 9
172 9
1
211 5
159.2
1
214 5
151 6
1
222 6
163 9
154 3
2
216 6
167.1
4
207.7
166 0
2
201 8
177.8
3
193.1
Distillate fuel oil _
Residual fuel oil
Jet fuel
__
Lubricants...
Asphalt
.
Liquefied gases
__
_.
_
. . .
Stocks, end of period, total J
Crude petroleum
Unfinished oils, natural gasoline, etc
Refined products _
Refined petroleum products:
Gasoline (incl. aviation):
Production
Exports
Stocks, end of period ...
do
do
do.
do
do
do
do
do
do
do
do
do
do
818 2
651 9
300 8
44 1
131 1
344 5
1944 i
249 0
i gg o
1 599 2
862.7
679 9
348.3
1 845 8 1 940 0
23
4 9
211.5
208 0
49 5
44 1
31.1
170 3
1
186 1
167 2
2
195 1
166 6
2
193 2
Prices (excl. aviation):
Wholesale, ref. (Okla., group 3)
$ per gal
.113
115
115
110
117
Retail (regular grade, excl. taxes), 55 cities
(1st of following mo.)
$ per gal
234
230
234
226
228
Aviation gasoline:
27
Production
mil. bbl
31 6
30
37 1
30
1
Exports
do
2
2
21
4 0
Stocks, end of period
do
63
63
70
79
67
Kerosene:
Production
do
76
75
101 6
100 4
87
Stocks, end of period
do
23 5
27 2
28 0
28 7
25 4
Price, wholesale, bulk lots (N.Y. Harbor)
$Dereal_.
.110
.113
.115
.111
.111
f
Revised.
' See note "1[" for this page.
2 Less than 50 thousand barrels.
d" Includes small amounts of "other hydrocarbons and hydrogen refinery input," not
shown separately.
f Beginning 1967, data reflect change in reporting to show all stocks of unfinished oils,
natural gasoline, plant condensate. and isopentane as one item, and stocks of "finished prod-
162 4
I
198 9
110
110
115
113
226
235
235
2 4
1
70
2 3
1
70
15
(a)
65
233
I 7
I
65
87
27 1
99
23 5
11 3
19 4
11 0
18 6
(2\
229 2
r
123
118
242
r 244
27
9 n
.115
r
242
66
R n
2 2
3
55
10 4
18 9
72
20 3
7 1
22 0
(21
J
(2)
r
115
.113
245
' 242
2 4
I
53
2 6
2
53
79
25 3
7 5
27 3
.235
.240
.111
.111
.111
.111
.111
.111
.111
.111
.111
ucts" as another (both items include stocks at refineries, natural gas processing plants, terminals, and bulk stations). Also, as a result of increased coverage in certain bulk terminals
stocks of distillate and residual fuels are on a new basis. Dec. 1966 data on new basis (mil.
bbl.): Total stocks, 881.1; distillate, 158.1; residual, 63.9.
9 Includes data not shown separately.
§ Includes nonmarketable catalyst coke.
SURVEY OF CURKENT BUSINESS
S-36
1967
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1969
1968
1968
Annual
October 1969
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
June
July
67.3
2.6
.1
110.9
71.3
2.2
.2
132.6
73.6
2.8
.1
159.1
May
Aug.
Sept.
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products— Continued
Distillate fuel oil:
Production
mil- bbl
Imports..
do
Exports
do
Stocks, end of period
do
Price, wholesale (N.Y. Harbor, No. 2 fuel)
$ per gal
Residual fuel oil:
Production
mil. bbl
Imports
do
Exports
do
Stocks, end of period
do
Price wholesale (Okla No 6)
$ per bbl
804 8
18.5
1
840 7
36.6
18
173 2
4 3
1597
70 5
22
I
191 4
66 1
26
4
206 0
66 0
22
1
211 8
66 1
2.5
1
204.0
71.2
4.7
.1
173.2
69.4
7.3
.1
130.6
66.4
6.0
.1
106.6
74.0
7.0
.1
96.6
66.7
3.5
.1
99.8
.100
103
105
101
101
.101
.101
.101
.101
.101
.101
.101
.101
.101
276 0
395.9
21 9
165 6
1 47
275 8
421 6
20 0
67 4
1 40
21 4
24 7
19
74 3
1 35
19 4
31 3
13
75 8
1 35
20 4
32 6
13
76 9
1 35
23 7
31.8
10
74.0
1.35
27.6
38.3
1.5
67.4
1 35
27.9
54.5
1.7
63.0
1 60
25.1
42.6
17
59.9
1 60
25.3
41.4
1.7
57.2
1.45
23.6
38.8
1.1
60.2
1.45
21.2
34.2
1.7
62.6
1.45
19.4
29.1
1.4
62.5
1.45
19.5
32.3
1.1
65.1
1.45
273 2
22.2
314 3
24 3
27 5
24 4
27 4
25.1
29 3
24 8
25 8
24.8
25.9
24.3
24.5
22.9
25.4
24.9
26.8
25.6
27.5
26.8
27.8
28.3
28.2
28.4
29.2
29.9
64.9
18 7
14.8
65.7
18 2
14 0
57
1.5
13 8
5.6
18
13.5
5.8
13
13 7
5.5
1.7
13.8
5.4
1.3
14.0
4.7
1.9
13.9
4.4
.8
13.8
5.6
1.4
14.0
5.5
1.4
13.9
5.7
1.7
13.5
5.3
1.9
12.8
5.5
1.1
12.8
.270
270
.270
.270
270
.270
.270
.270
.270
.270
.270
.270
.270
.270
mil bbl
do
127 8
19 9
135 5
20* 1
15 7
19 1
14 8
17.2
14 0
15 0
10 9
17.4
78
20.1
5.5
21.9
62
24.4
8.5
27.3
10.2
28.4
12.9
28.3
14.3
26.1
15.1
23.4
Liquefied gases (incl. ethane and ethylene): §
Production total
mil bbl
At gas processing plants (L. P.O.)
do
At refineries (L.R.G.)
do
Stocks (at plants and refineries)
do
438 1
326 6
111 5
64 2
469 3
351 3
118.1
76 2
39
28
10
86
1
6
5
6
38.4
28.6
9.8
91.9
39 3
30.0
9.3
90.8
39.2
30.3
8.9
85.5
41.6
31.8
9.8
76.2
40.9
31.8
9.1
58.4
38.9
29.8
9.1
52.5
43.0
32.5
10.5
51.7
41.4
31.1
10.2
57.2
42.7
31.9
10.8
65.6
40.8
30.1
10.7
72.5
41.7
30.4
11.3
78.5
Asphalt and tar products, shipments:
Asphalt roofing, total
thous. squares
Roll roofing and cap sheet
do
Shingles, all types
do
76,500
30 509
45 991
77 984
31 032
46 952
8,086
3 169
4 917
8,343
3 346
4,997
8,497
3 375
5,122
6,110
2,549
3,562
4,538
1 972
2,567
4,612
2 001
2,611
5,022
2,160
2,862
5,159
2,189
2,970
6,136
2,473
3,663
7,322
2,804
4,518
468
445
876
422
411
886
41
46
81
44
42
82
55
53
89
48
28
70
29
19
62
32
10
64
24
13
70
22
23
68
26
34
73
33
34
78
Jet fuel (military grade only):
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
8,082 ••7,922
3,138 ' 3, 086
4,944 '4,836
8,217
3,262
4,955
32
40
83
'31
'35
r
76
35
41
81
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
thous. cords (128 cu ft )
Consumption
__
do
Stocks, end of period
do
Waste paper:
Consumption
thous sh tons
Stocks, end of period.
do
WOODPULP
Production:
Total, all grades
Dissolving and special alpha
Sulfate
Sulfite
.
thous sh tons
do
do
do
2
57 219
255,773
6 825
57, 155
58, 358
5,031
5,047
5,021
5,008
4 933
4,733
5 274
5,337
5,235
5,398
4,804
5,099
5,127
4,566
4,738
5,031
4,860
5,153
4,671
4,666
4,829
4,458
5,057
5,387
4,254
4,845
5,050
4,092
4,967
5,320
3,771
5,258
5,413
3,597
5,224
5,078
3,770
2
9 888
826
10,285
586
885
510
850
513
929
548
858
544
798
586
882
584
827
580
931
570
903
585
915
574
883
577
786
610
2
36 660
2
1 448
2
23 925
2
37,903
1,725
24 308
2,508
3 290
150
2 113
209
3 053
133
1 953
197
3 360
151
2 180
214
3,190
166
2 074
204
2,898
142
1 803
191
3,249
157
2 110
188
3,049
131
1,979
189
3,418
156
2 251
206
3,433
124
2,344
189
3,603
144
2,456
199
3,536
151
2,397
196
3,329
127
2,273
181
2 563
Groundwood
Defibrated or exploded.
Soda, semichem., screenings etc
Stocks, end of period:
Total, all mills
Pulp mills _.
Paper and board mills
Nonpaper mills
do
do
do
2
3 879
2
1 460
2
3 385
4,237
1,540
3 584
363
137
318
344
128
298
363
136
316
355
104
287
345
130
286
361
131
303
333
128
288
364
134
308
347
129
298
363
135
305
362
135
295
338
132
277
do
do
do
do
863
365
418
80
741
278
376
86
801
344
383
74
746
315
364
67
787
346
371
70
775
339
367
68
741
278
376
86
771
322
374
75
807
331
396
. 79
815
313
422
80
862
336
442
84
840
327
430
83
857
344
433
80
796
284
436
75
Exports, all grades, total
Dissolving and special alpha
All other.
do
do
do
1,710
607
1 102
1,902
671
1 231
176
72
103
163
66
97
128
32
96
165
65
99
191
64
128
113
31
82
125
37
88
169
67
102
178
74
104
212
70
142
171
61
111
207
62
145
196
79
118
Imports, all grades, total .
Dissolving and special alpha
All other
do
do
do
3 162
265
2 898
3,540
302
3,238
283
23
261
258
26
232
304
27
277
299
19
280
346
38
308
289
22
267
324
18
305
313
26
288
355
27
328
331
23
308
349
27
322
338
26
312
307
18
289
4 197
1,834
1,966
11
386
4 017
1,810
1,808
12
386
4 436
1 975
2 044
12
406
4 108
1,843
1,889
10
366
4 100
1,829
1,926
10
334
4 433
1,995
2,093
12
333
4 212
1,874
2,025
12
301
4 676
2 051
2 236
12
377
4,508
1,955
2,156
12
385
4 597
1,974
2,221
12
390
v 4 210
P i 794
*2 044
*»9
v 363
4,269
4,074
4,544
4,158
3,983
4 480
4 236
4 535
1 968
2 180
11
376
r
4 721 r 4 618 r 4 676 r 4 538
120.5
90.6
92.3
100.6
121.0
90.9
93.5
100.6
121.0
91.0
93.7
100.6
100.6
102.7
102.7
102.7
102.7
102 7
102.7
121.0
121.0
121.0
121.0
122.1 123.2
121.0
121.0
91.4
91.0
92 2
92 6
93.5
93.6
93.5
93 5
93.8
94.8
97.3
98.2
100.4
100.7
99.6
99.4
§Data have been restated to include production and stocks for
excluded).
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census) :
2
All grades, total, unadjusted thous sh tons
49 444
46 893
2
Paper..
do
22 122
20 703
2
Paperboard _
do
22 821
222 346
Wet-machine board
do
142
146
2 3 ggy
Construction paper and board
do
4 358
New orders (American Paper Institute):
All grades, paper and board
do
50 207
46 074
Wholesale price indexes:
Printing paper
1957-59 — 100
101.4
101.9
Book paper, A grade
do
119.6
117.6
Paperboard
do
92.2
95 0
Building paper and board
do
92.8
91.9
r
v
Revised.
Preliminary.
»See
note "1" for p. S-35.
8
Reported annual total; revisions not allocated to the months.
t> 4 175
102 7
123.2
93 7
95.9
chemical use (formerly
SURVEY OF CURRENT BUSINESS
October 1969
1967
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1969
1968
1968
Aug.
Annual
S-37
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May.
June
July
Aug.
Sept.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS— Con.
Selected types of paper (API):
Fine paper:
2 645
2 ggo
'216
226
208
232
226
243
223
237
226
210
216
274
243
260
244
269
237
271
r 279
157
••259
'260
'267
'282
"230
"251
do
do
2 659
2,658
2,864
2,833
233
225
229
229
260
253
239
223
235
235
264
265
248
247
256
256
258
'258
'262
'263
'267
'267
"228
"229
do
do
6 335
'449
6 865
502
564
506
560
528
635
541
541
495
533
502
594
498
557
557
620
520
••585
'555
'599
'531
'582
'559
"553
"522
do
do
6 332
6,332
6 737
6 737
566
566
557
557
615
615
552
552
557
557
592
592
551
551
617
617
'596
'596
'586
'586
'594
'594
"558
"558
do
do
4 678
5 012
425
251
437
299
441
275
421
282
392
264
463
272
422
282
'467
264
292
'416
'261
'418
'253
'440
'287
"407
"250
do
do
4 753
4,685
4 992
4 931
409
414
419
421
425
424
430
422
412
413
443
444
428
423
467
460
'418
'414
'433
'422
'439
'439
"387
"394
do
do
do
8,051
7,968
8 031
8 096
639
634
408
576
622
362
719
760
320
702
761
262
683
742
203
710
644
268
681
615
334
743
726
351
690
684
358
748
794
311
720
721
309
726
720
315
751
705
362
do
do
do
2,620
2 602
2 935
2 946
27
253
247
51
240
240
52
257
259
50
248
255
43
233
249
27
275
265
38
252
251
38
279
274
44
265
262
47
277
269
55
273
275
53
247
249
51
269
256
63
Orders unfilled end of period
do
Production
Shipments
Printing paper:
Orders new
Orders unfilled end of period
Production
Shipments
Coarse paper:
Orders new
Orders unfilled, end of period
Production
Shipments
Newsprint:
Canada*
Production
Shipments from mills
Stocks at mills, end of period.
United States*
Production
Shipments from mills
Stocks at mills, end of period
214
268
39
203
Consumption by publisherscT
do
Stocks at and in transit to publishers, end of
period
thous sh tons
6 907
7 025
559
599
645
652
630
564
541
638
616
661
607
550
582
630
633
704
659
660
628
«QO
644
655
673
662
678
647
681
683
Imports
do
Price, rolls, contract, f.o.b. mill, freight allowed
or delivered
$ per sh ton
6 599
6 462
505
451
568
514
636
489
510
532
567
532
601
604
539
139 95
141 40
141 40
141 40
141 40
141 40
141 40
146 10
146 10
146. 10
146. 10
146. 10
146. 10
146. 10
444
618
439
87
454
869
513
877
536
921
556
1,009
523
1,042
534
1,032
464
1,048
480
518
509
512
528
509
534
528
1,035
512
454
869
530
943
469
511
966
467
894
497
470
895
173.834
15,390
15,348
17,156
15,123
13,861
14,884
14, 141
15,474
15, 796
138 0
144 9
141 8
161 2
136 1
142 2
137 4
134 1
139 1
Paperboard (American Paper Institute) :
Orders, new (weekly avg.)
thous. sh. tons..
Orders, unfilled §
do
Production , total (weekly a vg . )
do
Percent of activity (based on 6 5-day week)
Paper products:
Shipping containers, corrugated and solid fiber,
shipments
mil. sq. ft. surf, area.. 162.596
Folding paper boxes, shipments, index of physical
volume
1947-49 — 1 00
134 5
502
504
963
506
963
14,754
15, 519
16, 737
139.6
"138.4
"147. 5
529
463
16, 056
14, 765
141.4
143.4
514
489
RUBBER AND RUBBER PRODUCTS
RUBBER
N atural rubber :
Consumption
thous Ig tons
Stocks, end of period
do
Imports, incl. latex and guayule
do
Price, wholesale, smoked sheets (N.Y.)__$ per lb._
Synthetlc rubber:
Production
Consumption
Stocks, end of period
thous Ig tons
do
do
Exports (Bu. of Census)
Reclaimed rubber:
Production. _ _ _
Consumption
Stocks, end of period
488 85
111 66
452 80
581 86
107 76
540 17
46 83
103 02
46 06
49 70
107 19
63 30
54 57
104 69
36 24
48 97
99 79
43 69
46 79
107 76
49 58
50 41
98 00
21 81
46 40
92 15
49 00
50.01
104 71
59 78
49 29
107 43
54.39
50.54
108. 52
48.90
49.54
107. 35
46.66
44.29
105 .33
40.84
55.19
.199
.198
.210
.201
.215
.228
.228
.221
.231
.259
.270
.260
.268
.285
.314
1 911 87 2 131 10 178 63
1 628 26 1 894 38 154 23
369 94
369 98 374 65
172 89
158 66
361 12
178 43
178 96
347 40
180 62
161 76
347 01
183 03 181 63
154 71 169 39
369 98 379 54
174 97
163 32
388 14
193 14
173. 90
392 56
186 20
163 17
401 22
191 42
165.77
407 01
183 78
168.26
413 .46
180 97
148.16
424.18
do
299.80
291.03
30 71
37 76
13.86
18 28
18.77
4 50
7.03
13.55
25.03
23.22
21.60
18.32
do
do
do
243 65
239 27
28 40
257 22
250 43
29 58
19 75
19 10
30 26
20 33
20 19
29 87
22 66
22 42
29 78
20 19
19 86
29 64
19 88
19 15
29 58
21 71
21 32
29 76
20 22
21 02
30 42
22 12
21.90
30 43
21.69
20.74
31 78
19 74
20.80
30 59
20.16
22.38
30 78
18.10
17.01
31.49
.279
23.65
TIRES AND TUBES
Pneumatic casings, automotive:
Production
thous
163 192
203 052
15 694
16 506
18 695
16 831
16 186
18 081
17 170
18 269
17 283
16 882
17 435
15 447
Shipments, total
Original equi pment _ _ _
Replacement equipment
Export
do
do
do
do
172 939
47 733
123 085
2*121
199 337
58 365
137 779
3 193
15 235
2 542
12 399
19 623
5 679
13 681
15 450
5 899
9*372
20 046
4,966
14 860
190
87
112
238
219
18 006
4 744
13 077
178
15 223
5 062
10 074
17 095
5 212
11 645
264
13 832
4 898
8 743
14 160
4 551
9 497
294
18 226
5*305
12 514
*407
185
20 115
5 009
14 847
*259
16 681
2 515
13 972
'l94
Stocks, end of period
Exports (Bu. of Census)
do
do
34, 782
1 450
42 127
2 518
39 969
38 719
37 930
42 127
45 124
48 469
50 365
48, 131
86
203
191
47, 433
245
39 698
*157
do
do
do
do
39 775
41 691
11,005
43 791
43 957
11 828
1 390
3 491
3 595
12 437
3 428
3 gsg
12 442
3 474
3*200
11* 489
3 584
3 466
11 190
3 562
3 600
11, 586
266
3 277
3 031
11 828
3 756
3 602
11 546
115
4 094
4 230
11 146
Inner tubes, automotive:
Production. _ __
Shipments..
Stocks, end of period . _
Exports (Bu. of Census) ...
_
849
254
397
132
' Revised.
" Preliminary.
Gp As reported by publishers accounting for about 75 percent of total newsprint consumption.
109
144
87
53
3 899
4*720
11 203
73
51
118
115
45 135
264
44, 317
174
3 402
3 458
11 871
3 375
4 041
11 499
3 160
3 929
11 088
130
91
147
66
275
99
§ 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.
SUKVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
1968
Annual
October 1969
Aug.
Sept.
Oct.
1969
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
42,988
Sept.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement
thous. bbl
374,017 1397,448
44, 106
39, 855
45,358
30,954
22,760
19,088
20,096
26,106
34 646
39, 271
41, 012
42, 386
7, 117. 4 7, 534. 0
192.5
234.5
1 572.2 1, 705. 5
708 1
18.2
168 5
672. 0
18.3
169 6
741.0
17.1
170.3
603.2
15.3
128.7
489.3
16.5
110.4
430.7
16.6
96.0
467.2
18.9
108.5
601.0
22.0
133.6
693.9
23.8
153 5
705.6
23.3
163.5
'608. 5
21.3
183.1
703.2
22.4
169.6
20.5
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
mil. standard brick
Structural tile, except facing __ thous. sh. tons
Sewer pipe and fittings, vitrified
do
Facing tile (hollow) , glazed and unglazed
mil. brick equivalent
Floor and wall tile and accessories, glazed and unglazed. .. __
. mil. sq. ft
Price index, brick (common), f.o.b. plant or
N.Y. dock
1957-59=100
240.1
220 6
17 8
18 8
21.0
18 2
20.2
17.2
14.9
17. 9
17 8
17.7
18.4
257.5
274.5
24 5
23.9
24.5
21.2
20.2
23.0
21.8
24.8
25.1
25.5
26.2
24.9
113.4
117.1
117 6
117.6
118.1
119.6
120.2
120.4
120.5
120.5
122.2
122.4
122.6
122.7
332 067
387 469
98 192
108,776
117,708
108,684
131, 567
200,500
139, 391
248, 078
35,843
62,349
39,539
69, 237
39, 560
78,148
36, 987
71, 697
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments
thous. $
Sheet (window) glass, shipments..
Plate and other flat glass, shipments
Glass containers:
Production..
do
do
225, 579
(fl)
23 054
21 368
22, 870
21, 120
19, 921
22,370
19, 362
23,205
21 056
22,453
22, 743 '21,527
Shipments, domestic, total
do
228 766
General-use food:
Narrow-neck food
do
23 631
Wide-mouth food (incl. packers' tumblers,
jelly glasses, and fruit jars)
thous. gross. _ 57,852
(fl)
23 576
20,034
20,902
18, 705
20, 795
18, 627
17, 851
20,801
20 973
21, 242
22,246
(«)
3 473
2 681
2 252
1,575
1,698
1,858
1,737
2,174
1 882
1,876
1,970
r
2, 055
2,588
(fl)
5,826
4,763
5,591
4,983
5,017
4,703
4,311
4,546
4 598
4,580
4,745
»• 4, 702
5,267
38, 185
44 501
19 459
(«)
3,609
4 081
1,637
4,190
3 373
1,802
3,882
3,268
1,586
5,113
3,506
1,673
3,454
3,617
1,557
3,386
3 406
1,513
4,226
4 328
1,818
4 665
4 586
1 743
5,098
4 573
1,598
5,952
4,359
1,823
r
<•)
4 387
4 781
1 591
4,819
5,400
' 5 114 4,914
' 1, 594 1,666
38 516
5,664
(fl)
3 065
2,810
3,189
2,934
3,237
2,996
3,064
3,220
3 075
*379
3,103
r
366
48
2,983
45
30 700
31 680
thous. gross
Beverage
__ _
Beer bottles
Liquor and wine._
_ __
do
do
do
Medicinal and toilet .
Chemical, household and industrial
Dairy products
.
Stocks, end of period
do
do _
do
958
( fl )
(')
(8)
387
66
390
63
440
65
22,463
417
60
483
68
380
62
386
48
434
55
23 518
4,722
9 393
5,454
10 018
1,604
2,720
1,379
2,566
1,022
2 189
1,450
2,615
7 379
8 844
2 420
2,172
2 208
2,317
-do.-.
_do_ _
4 511
4 935
1,352
1,257
74
692
78
1,497
do
do. _
561
813
536
778
145
213
121
186
119
165
127
178
19 594
20 709
24 626
23, 518
27, 146
28 512
30,798
31, 962
22, 396
21, 795 22, 576
2, 556
'330
2,895
44
382
45
31 470
31, 033
80
528
366
48
22 546
do
r
r
GYPSUM AND PRODUCTS (QTRLY)
Crude gypsum, total:
Imports
_
Production
.
thous. sh. tons..
__
do
Calcined, production, total
_
do
Gypsum products sold or used, total:
Uncalcined uses
Industrial uses
...
___
Building uses:
Plasters:
Base-coat
All other (incl. Keene's cement)... .
Lath
Wallboard
All other
....
mil. sq.ft.
do_...
do
293
949
7,089
243
76
301
235
287
999
2,365
8 283
251
222
2,254
2,025
2,017
64
80
269
81
78
67
TEXTILE PRODUCTS
WOVEN FABRICS
Woven fabrics (gray goods), weaving mills :J
Production, total 9 .
mil. linear yd
Cotton
do
Manmade fiber _
do
12,479
8,281
3,981
12, 693
7,408
5,052
991
570
404
1,009
574
419
H,248
2708
2521
998
564
419
903
509
380
21,270
2 686
2562
1,028
577
433
1,034
578
438
21,229
2693
2513
1,018
588
413
1,013
561
437
Stocks, total, end of period 9 d"
Cotton
__
Manmade
fiber
do__.
do
do
1,386
839
533
1,366
739
611
1,343
754
576
1,341
747
580
1,312
713
585
1,306
717
575
1,366
739
611
1,296
677
604
1,252
640
596
1,245
634
596
1,249
630
603
1,275
651
610
1,333
669
652
Orders, unfilled, total, end of period 9 f
Cotton.
_
Manmade
fiber
__
do
do
do
3,353
2,064
1,209
3,098
1,627
1,384
3,128
1,592
1,442
3,004
1,495
1,418
3,114
1,569
1,461
3,146
1,609
1,451
3,098
1,627
1,384
3,016
1,588
1,338
3,041
1,564
1,374
3,067
1,619
1,343
3,141
1,625
1,413
3,138
1,601
1,443
3,170
1,617
1,470
COTTON
Cotton (exclusive of linters):
Production:
G innings A
thous. running bales
10,917
5,950
7,439
373
1,414
Crop estimate, equivalent 500-lb. bales
thous. bales..
10,948
7,458
Consumption..
do
9,215
2813
643
8,568
665
Stocks in the United States, total, end of period
thous. bales. . 14,563
12,964 16,575 15,720 14,636
Domestic cotton , total
do
14,472
12,912 16, 517 15,665 14, 575
On farms and in transit
do
1,509
1,534 11,085 10,339
6,268
Public storage and compresses
" do
6,890
11,369
3,819
9,807
3,777
Consuming establishments
"_
do
1,594
1,419
1,655
1,507
1,571
Foreign cotton, total
do.
52
59
91
58
55
r
2
Revised.
» Reported annual total; revisions
not allocated to the
months.
Data
3
4
cover 5 weeks; other months, 4 weeks.
Ginnings to Dec. 13.
Ginnings to Jan. 16.
«Crop for the year 1968.
« Data not available owing to lack of complete reports from
the industry.
7 Oct. 1 estimate of 1969 crop.
9 Includes data not shown separately.
I Effective Aug. 1969 SURVEY, data (1964-Apr. 1969) reflect adjustments to new benchmarks; see Bureau of Census reports: Woven Fabrics (1964-68), Series M22A-Supplement
and (Jan.-Apr. 1969), M22A (69) 1-4 Supplement.
9,171 310,049 410,834
»10,917
2806
«10,948
664
658
577
647
11,492
11,446
979
8,626
1,823
45
1,610
710,528
2792
656
644
7,355
7,322
391
5,203
1,728
33
••2649
630
16, 780
16,756
11, 031
4,256
1,469
32
9,571
'6,520
13, 796 12,964 12,011
8,193
10, 713
8,159
«• 6, 489
10,672
9,531
13, 746 12, 912 11,963
400
1,534
931
429
3,360
866
930
6,762
'4,466
9,312
5,925
9,807
7,934
8,839
••1,623
1,571
1,721
1,838
1,805
1,872
1,475
31
40
52
41
34
48
56
c? Stocks (owned by weaving mills and billed and held for others) exclude bedsheeting,
toweling, and blanketing, and billed and held stocks of denims.
^Unfilled orders cover wool apparel (including polyester-wool) finished fabrics; production
and stocks exclude figures for such finished fabrics. Orders also exclude bedsheeting, toweling,
and blanketing.
ATotal ginnings to end of month indicated, except as noted.
SURVEY OF CURRENT BUSINESS
October 1969
UntoM otherwise stated, •tetistica through 1966
and descrlptlTe notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
| 1968
Aug.
Annual
S-39
Sept.
Oct.
1969
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
July
June
Aug.
Sept.
TEXTILE PRODUCTS—Continued
COTTON— Continued
Cotton (exclusive of llnters)— Continued
Exports
thous. bales..
Imports
do
Price (farm), American upland — cents per Ib...
Price, middling 1", avg. 12 markets 5 . ..do
Cotton linters:
Consumption.
.
._ thous. bales
Production
do
Stocks, end of period ...
do
3,973
169
125.4
124.8
3,870
95
•21.9
•23.4
213
20
26.0
25.0
262
44
26.2
25.0
152
2
26.5
24 3
185
1
24.2
23 3
276
1
21.6
22 7
1,080
977
617
1,107
998
405
77
20
300
92
42
255
'114
160
308
93
156
359
mil..
do
.bll~
do
do
20.0
14.4
126.2
.486
94.4
20.0
13.1
128.0
.493
85.9
20.2
13.5
10.1
.504
6.6
20.2
13.3
9.9
.495
6.5
20.2
13 3
'12.5
.502
'8.3
Cotton yarn, price, 36/2, combed, knit
$ per lb_.
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly.)
. _ _ mil. lin. yd
Orders, unfilled, end of period, as compared with
avg. weekly production
No. weeks' prod..
Inventories, end of period, as compared with
avg. weekly production ..No. weeks* prod-Ratio of stocks to unfilled orders (at cotton
mills), end of period, seasonally adjusted
.942
1.049
1.039
1.037
8,278
7,454
15.4
13.8
12,4
5.2
5.3
.35
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
Exports, raw cotton equiv.*
thous. bales..
Imports, raw cotton equiv.*
do
Mill margins:*
Carded yarn cloth average
cents per lb_.
Combed yarn cloth average
.do
Blends (66% polyester-35% cotton)
do
Prices, wholesale:
Print cloth, 39 inch, 68 x 72... cents per yard—
Sheeting, class B, 40-tnch, 48 x 44-48.. -do
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly. total
mil. Ib
Filament yarn (rayon and acetate)
do
Staple, incl. tow (rayon)
.
do. .
Noncellulosic, except textile glass:
Yarn and monofilaments
do
Staple, incl. tow
do
Textile glass
fiber
do
19.2
22.5
55
1
19.6
22.2
130
3
20.5
22.1
568
5
20.6
22.0
363
6
20.1
21.9
194
3
21.2
21.9
80
166
405
'110
170
460
97
142
498
91
129
539
' 115
113
525
90
97
497
82
69
458
20.0
13.1
9.9
.495
6.5
20.0
13.1
8.6
.431
5.6
19.9
13 0
'12.2
.488
'7.9
20.0
13.1
9.8
.490
6.4
19.9
13.1
10.1
.505
6.6
19.9
13.0
'12.1
.486
'8.0
20.0
13.1
10.0
.501
6.5
19.9
13.0
9.8
.490
6.4
1.032
1.032
1.032
1.032
1.032
1.032
1.027
1.027
1.024
1.024
11.6
12.4
12.4
13.8
13.2
12.4
12.6
13.2
12.3
13.0
17.5
5.4
5.3
5.1
5.0
5.3
5.6
5.2
5.0
5.1
5.0
5.2
6.8
.40
.42
.44
.41
.40
.40
.43
.43
.41
.39
.40
.39
268.1
527.0
256.0
559.6
20.5
54.0
29.8
54.7
17.5
49.1
25.5
44.1
21.5
36.0
8.0
16.1
15.4
29.6
35.3
60.9
29.6
71.8
33.5
47.4
28.2
63.5
23.7
45.5
27.1
57.2
37.75
75.60
'61.45
37.73
•93.25
64.40
37.85
90.58
64.04
38.10
91.72
62.24
39.03
93.31
60.31
40.80
95.20
60.51
42.02
42.53
98.55 8109.27
60.68
58.60
43.08
109.24
55.01
42.92
107. 86
55.15
42.71
108.08
58.70
42.73
108.30
60.94
42.81
107.28
59.60
43.02
106. 90
60.22
43.51
107. 42
60.03
< 18. 4
17.3
18.6
17.5
18.4
17.5
18.4
17.5
18.4
17.8
18.4
18.8
18.4
18.5
18.4
18.5
18.4
19.0
18.4
19.0
18.4
19.0
18 5
3,980.6
734.7
603.4
5, 134. 5
805 2
739.1
1,300.9
204.7
180.4
1,393.5
218.9
198.7
1,213.9
1, 119. 8
308.8
1, 649. 5
1,538.0
402.7
422.5
391.5
101.8
442.4
421.1
112.4
Exports: Yarns and monofllaments
thous. lb_. « 88, 831 96,390
Staple, tow, and tops
do
78,293 108,253
Imports: Yarns and monofilaments. .
do
28,194 ^59,303
Staple, tow, and tops
..do
« 149, 672 217, 707
Stocks, producers', end of period:
Filament yarn (rayon and acetate). .,... mil. Ib—
59.4
51.7
Staple, incl. tow (rayon)..
do .
59.0
43.8
Noncellulosic fiber, except textile glass:
Yarn and monofilaments
...do
194.3
138.7
Staple, incl. tow
do
210.9
142.4
Textile glass
fiber
do
47.3
40.4
Prices, manmade fibers, f.o.b. producing plant:
Staple: Polyester, 1.5 denier
$ per Ib..
.66
Yarn: Rayon (viscose), 150 denier
do
.81
Acrylic (spun) , knitting, 2/20,3-6 D*_do. _ . . 1.52
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.), total 9
mil. lin. yd.. 4,265.5
Fllament yarn (100%) fabrics 9do.... 1, 620. 4
Chiefly rayon and/or acetate fabrics
do
754 0
Chiefly nylon fabrics
do
*324. 2
Spun yarn (100%) fab., exc. blanketing 9 -.do
1,999.9
Rayon and/or acetate fabrics and blends
do...
600.2
Polyester blends with cotton
. do
1,195. 6
Filament and spun yarn fabrics (combinations
and mixtures)..
... mil. lin. yd
427.9
WOOL
Wool consumption, mill (clean basis) :
Apparel class
Carpet class
Wool imports, clean yield
Duty-free (carpet class)
Wool prices, raw, clean basis, Boston:
Good French combing and staple:
Graded territory,
fine
Graded fleece, H blood
Australian, 64s, 70s, good topmaking
.61
.85
1.42
1,779
1,712
8,509
8,583
5,485
17,480
.61
.88
1.43
8,396
9,185
6,124
18, 376
5,573
6,200
4 026
16,599
8,812
10,040
3,614
15,804
17.8
18.4
8,486
11, 798
4,937
19, 925
17.8
18.4
1,364.3
203.4
190.4
445.3
416.9
108.3
5,231
5,497
2,416
4,804
4,237
6,807
2,900
5,767
9,048
12,366
3 548
13, 929
194.3
210.9
47.3
233.8
215.5
48 7
247 9
223 5
51 6
.61
.88
1.41
42
431
r
••19.9
12 9
* 10. 2
r 2.406
6. 4
7,554 9,952
10, 983 8,478
2 951 2 178
18, 333 17,090
168.3
183.4
44.4
.61
.90
1.42
.61
.90
1.42
.61
.90
1.42
1, 391. 7
476.7
197.8
1, 453. 9
476.0
199 8
2, 754. 4
1,288.9
444.3
178.8
89.9
678.2
735.6
787.2
679.4
1, 756. 7
158.6
436.7
169.3
470 7
182.6
503.8
469.5
110.2
121.1
130.3
5,280.4
1, 829. 4
771.7
9,801 9,285
13, 132 11, 878
3 017 2,335
18,863 15, 857
68.8
54 5
.61
.88
1.42
r
2
.61
.89
1.42
.61
.89
1.43
.61
.89
1.43
85
34
399
19.8
12 8
9.6
482
6.2
44.03
107.60
59.52
23 5
289
22 0
11.3
18.9
7.3
19 2
9.7
18.2 •• 2 ig. 8
7 6 '27.6
15 9
14 7
10.8
65
9,886
10 433
4 564
16,946
.61
.89
1.42
mil. Ib..
do
do
do.
228.7
83.9
187.3
78.2
238.3
91.4
249 4
119.6
19.0
7.2
19.2
9.7
17.8
7.1
20.6
12.5
'22
5
2
88
17 7
92
17 0
7i
16 4
9.0
16.3
6.7
18 1
76
'22.9
'9.6
10.9
3.1
17.1
7.5
9.2
2.7
18.2
69
19 9
9.9
$ per Ib..
do
do
1.215
.910
1.153
1.207
.840
1.180
1.220
.850
1.175
1.210
.840
1.175
1.215
.864
1.191
1.245
.880
1.195
1.245
.880
1.195
1.245
.880
1.195
1.239
.880
1.195
1.220
.858
1.195
1.220
.850
1.195
1.220
.850
1.195
1.220
.850
1.195
1.220
.850
1.195
93.4
93.4
93.1
92.9
92 9
92 9
92.6
92 6
92 6
55.7
19.4
21 4
446.3
427 7
120.5
67.0
59.3
.61
.88
1.42
r2g3
147
1
20.5
21.6
1,377 6
191 3
191 8
59.4
59.0
.61
.87
1.43
278
1
21.7
21.9
1,833
49.1
52.4
WOOL MANUFACTURES
Knitting yarn, worsted, 2/20s-50s/56s, American
system, wholesale price
1957-59=100
91.7
91.8
91.0
92.6
92 4
Wool broadwoven goods, exc. felts:
Production (qtrly.)...
mil. lin. yd.. 238.6
56.7
243.3
Price (wholesale), suiting, flannel, men's and
boys', f.o.b. mill
1957-59=100
100.9 101.1 101.1 101.1
101.7
2
'Revised.
«Season average.
For 5 weeks, other months, 4 weeks.
* Beginning
Jan. 1969, the average omits two cloths previously included
(Dec. 1968 margins comparable
3
with new data, 107.87 cents).
* For 10 months.
Revised total; revisions not distributed
by months.
• Less than 500 bales.
7
8
9
Avg. for 5 months, Aug.-Dec.
Avg. for 6 months, July-Dec.
Season average to
Apr. 1,1969.
IFor the period Sept. 1967-Feb. 1968,14 markets; beginning Mar. 1968,12 markets.
55
(6)
16.8
6.9
23.7
14.0
1.220
.850
1.195
1.220
.850
1.195
68.6
101.1 102.1 102.1 102.1 102.1 102.1 102.1 102.1 103.0
*New series. Beginning Aug. 1966, mill margins refer to weighted averages of about 70 types of
unfinished carded yarn cloths and to simple averages of 5 to 8 combed yarn cloths and of 3
polyester-cotton blends; no comparable data prior to Aug. 1966 are available.
Exports and
imports of cotton cloth (U.S. Dept. Agriculture) available beginning July 1959; spun yarn
price (BLS), beginning Jan. 1965.
9 Includes data not shown separately.
SUEVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated, statistics through 1966
and descriptive notes are shown in the 1967
edition of BUSINESS STATISTICS
1967
1968
1968
Annual
October 1969
Aug.
Sept.
Oct.
1969
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
Aug.
21, 144
Sept.
TEXTILE PRODUCTS—Continued
APPAREL
Hosierv, shipments
Men's 'apparel, cuttings:
Tailored garments:
Suits
Overcoats and topcoats. .
thous. doz. pairs
223,482
225,588
19, 861
19,539
21,635
20,634
16,590
18,170
18, 514
20,316
18,360
18, 951
22,303
20,771
- thous. units
. ..
do
19, 719
4,770
21, 710
4,141
1,856
1,836
2,352
1,869
1,620
2,193
2,091
2,082
2,277
2,092
'2,065
••323
1,305
1,074
13, 417
1,367
14,594
1,292
13 214
1,028
10,350
1,354
8
13, 367
1,240
13,635
1,299
14, 433
1,302
14,341
1,234
1,136
15, 841 '14, 472
852
1,858
2,312
1,982
1,601
1,974
1,989
1,957
1,886
676
268
629
340
691
287
632
228
628
293
588
315
675
290
408
13, 726
14,036
1,208
Coats (separate) , dress and sport _ . do _
6 138, 571 « 158, 353 14, 418
Trousers (separate) , dress and sport
do
Shirts (woven fabrics), dress and sport
thous. doz__ 22,835 24,038 1,992
Work clothing:
7,464
544
6,945
Dungarees and waistband overalls...
do
4,042
3,310
259
Shirts
. do
Women's, misses', juniors' outerwear, cuttings:
Coats
thous. units
Dresses
.
--do _
Suits
do
Blouses, waists, and shirts
Skirts
.thous. doz_.
-do
420
395
304
244
290
22,414
279, 864
7,983
21, 370
270, 257
8,152
2,108
21,334
2,051
19, 892
2,222
22,984
1,899
19, 371
1,362
17, 261
1,765
20,976
14,064
8,548
15,095
7,845
1,201
1,148
1,389
1,205
915
385
1,180
646
788
532
645
622
773
514
545
492
648
674
218
286
313
612
295
1 708
1 435 1,247
23,017 26,035 25,458
592
536
319
1,240
1,274
1,178
713
841
763
317
213
12, 999
1,953
1,893
1,654
674
297
••709
285
808
243
1,405 ' 1, 679
22,413 '20,r 614
360
425
1,704
18, 965
1,188
656
542
'1,129
r
693
1,186
893
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders, new (net), qtrly. total. _
.mil. $_
TT-8- Government,
do
Prime contract.- _
-do
Sales (net), receipts, or billings, qtrly. total -.do
U.S. Government
do
26,900
18,538
24,423
23, 444
16 334
1 27,168
* 16 577
i 24,575
25, 592
16,635
7,149
5 577
6,509
6,257
3 991
6,044
3 479
5 207
6,793
4 499
'6,450
' 4 370
'5,566
'6,047
' 3, 941
4,404
2,462
3,756
6,333
4,284
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. $
30,936
17 950
16,401
4 252
1 30,749
i 16,343
1 16,608
i 3,951
31,497
17 330
17,389
3 824
30,749
16343
16,608
3 951
'31,346
' 16, 788
'17,303
' 4 146
29,417
14,965
16, 342
4,192
Aircraft (complete):
Shipments ©
Airframe weight ©
Exports
do
thous Ib
mil. $
5,704
15,083
5,164
5,083
' 4, 772
4,052
2,810
i 2,834
2 917
2,834
'3,029
2,941
2 981.5
56 739
786.5
340 3
4 355 1
76 202
6 005
1 403 1 121 7
414 9
6 859
160 7
390 0
6 264
132 4
338.4
5 858
133.4
352 2
5 598
153 8
367 4
6 524
139 8
346.4
6 Oil
116 5
373 5
6 201
83 2
242.2
4 180
73.3
'290.2
' 4 832
83 8
268.6
4,131
93.0
816.9 1,125.2 1,040.7
769 4 1 065.2 984 3
935.2
876.6
656 4
889.5
831.0
620 0
164.1
190.0
160 5
175.8
153.3
149 4
881.9
832 2
732 1
693 7
149.8
138 5
976.5
933.3
815.4
782.1
161.1
151.2
864.7
825 0
707.4
677.4
157.3
147.7
932.3
878 4
763 3
721 7
169 0
156 7
876.8
825 8
714 3
677.3
162.5
148 5
861.1
806 2
720 2
678 5
140 8
127 8
940.9
891 1
777.1
741.1
163.8
150 0
617.1
589 2
465.2
447.3
152.0
141.9
473.7
447.2
346.4
329.8
127.3
117.4
25.73
24 75
5 72
23.56
20 77
6 59
34.64
29 46
10 97
28.50
24 10
11 82
33 24
30 20
9 83
27.09
24.84
10 24
16.95
14.95
7 92
10.92
9.48
7 97
311 6
5 668
94 1
337.7
5 782
53.5
MOTOR VEHICLES
thous.. 8,976.2
8 484.6
do - T 7, 436. 8
.do
7,070.2
.do
1, 539. 5
1, 414. 4
do
Factory sales (from plants in U.S.), total
Passenger cars, total
Domestic .
Trucks and buses, total
Domestic.
Exports:
Passenger cars (new), assembled
To Canada*
Trucks and buses (new) assembled
. ...do..
do
do
Imports:
Passenger cars (new) complete units
From Canada, total*
Trucks and buses, complete units
do
do
do
Shipments, truck trailers:
Complete trailers and chassis
number
Vans.
do
Trailer bodies and chassis (detachable), sold
separately
number
Registrations (new vehicles) : O
Passenger cars
Foreign cars
Trucks (commercial cars)
thous
do
do
10,718.2
10 172 2
8 822 2
8, 407. 1
1, 896. 1
1 765 1
292.1
274 7
193.1
182.6
99.0
92.1
330.46
286 78
92 03
8.29
6 86
5 41
27 71
23 60
8*84
30.32
26.24
7 83
36.28
30.79
10 03
30 96
26 00
9 67
1 020 62 3i 620 45
323.65 3500.88
75 07 3 11465
97 25
13.68
3 58
126 02
42! 57
10 50
143 10
54.65
13.60
154.81
55.77
13.95
164 36
51.67
11 99
106.32
50.21
12.84
121 48
48.23
8 23
137 47
46.65
13 12
182 77
51.72
12 96
185 26
63.89
14 61
185.53
68.52
12.65
160 15
40.99
8.63
120.38
26.58
9.70
113 928
75,148
9 526
6 439
9 544
6 475
9 980
7,036
9 701
6,774
9 685
6 616
9,890
6,739
11 055
7,405
12 760
8*581
12 561
7,910
12 474
7 935
12,606 '11,370
8,942 '7,941
10,685
7,517
33 761
2 308
3 703
3 769
3 966
4 KO4
1 605
3 025
3 079
2 195
1 530
3 8 357 4 39 403 9
3 779 2 3985 8
3 i 518 4 31 775 6
744 4
• 81.7
150 9
705 3
94 7
148 5
880 3
103.8
170 3
757.0 4 977 3
84.2
<97 6
140.3 4 185 5
657 6
63.4
133 2
53 4
oi24 5
681 2
58 1
144 0
56 262
38 991
17 271
3 760
2 488
1*272
4 448
3 062
1 386
4 533
3 319
1 214
4,097
2 670
1 427
4 566
3 736
4,452
3 823
830
629
5 205
4 439
5 312
4 516
6 571 »>5 826 »5 445 v 4, 861
*>3 770
5 353 M 667
1 091
1 557
1 218
1 159
53 703 3 63 561
3 155
3 032
*123
4,321
4 221
100
9,793
6 775
3 018
9,630
7 830
1 800
9 356
7 039
2 317
7,753
4 325
3 428
3 641
3 136
*505
5 957
5 157
800
19 721 *6 263 '7,968 * 5, 747
19 329 P 6 203 '6 683 *>3 047
' 60
392
1 285 2 700
16 261
11 439
4 822
16 229
12,693
3 536
21 400
16,060
5 340
26 939
21, 226
5 713
31 740
24 540
7 200
34 994
24 995
9 999
33 439
23* 701
9 738
34 073
24 331
9 742
47 208 »47 445 j>50 395 *51 233
38 292 *39* 628 "42 850 »42, 079
9 154
7 545
8 916
7 817
280.58
236 64
82 24
96 539
59, 147
27 497
8
0
2 920. 1
2 754. 8
2 165. 3
1 754 ' 2 368 2 829
a 876 0 a 889 1 a 841 9
» 98.3 a 107 9 «91 7
a 174 6 a 172 8 a 160 9
0
0
815. 3 « 718. 8
-90.2 « 95.6
169. 6 °153.8
RAILROAD EQUIPMENT
Freight cars (ARCI):
Shipments
Equipment manufacturers total
Railroad shops domestic
number
do
do
83 095
64 775
18 320
New orders
Equipment manufacturers total
Railroad shops domestic
do
do
do
00
15 235
3 49 391
14 170
Unfilled orders end of period
Equipment manufacturers, total
Railroad shops domestic
do
do
do
24 917
14 276
10 641
31 740
24 540
7 200
Freight cars (revenue), class 1 railroads (AAR):§
Number owned end of period
thous
Held for repairs, % of total owned
Capacity (carrying), aggregate, end of period
4<JQ
1 482
'5 1
1 458
*5 2
1 467
*5 4
1 466
54
no -IE
no 09
no co
no en
If
62
93 83
Average per car
tons.. 62.85
64.12
64.34
63.84
63.90
' Revised. » Beginning 1st quarter 1968, value of new orders and backlog refers to orders
on a funded order basis for Government contracts and on binding legal documents (or equivalent) for commercial business. Revised 4th quarter 1967 figures, comparable with funded
data beginning 1st quarter 1968 (mil. dol.):
Total net new orders 7,428; total backlog, 29,339.
^Preliminary estimate of production. 3 Annual total includes revisions not distributed
by months.
«Includes delayed registrations for seven States.
• Beginning Jan. 1969,
data exclude vehicles on runners and skis.
• Data for 1967-68 are understated by from 3
to 5 percent and are not strictly comparable with figures beginning 1969. a Omits data
766
796
1 461
*5.2
1 458
52
1 456
*5 2
1 455
5 2
1 452
53
1 449
51
1 448
*5 2
93 84
64.23
QQ QO
no QI
no QO
no ni
QO QA
QO QA
64.34
64.50
64.54
64.68
64.82
64.87
1 446
53
94 01
65.02
1 443
*5.4
1 442
93 96
65.' 11
93 98
65! 19
5.5
for 1 State.
» Preliminary; refers to domestic business only.
9 Total includes backlog for nonrelated products and services and basic research.
0 Data include military-type planes shipped to foreign governments.
*New series;
source, Bureau of the Census. Beginning in the July 1969 SURVEY, imports are restated to
include duty-paid cars from Canada.
O Courtesy of R. L. Polk & Co.; republication
prohibited.
§Excludes railroad-owned private refrigerator cars and private line cars.
INDEX TO CURRENT BUSINESS STATISTICS, Pages S1-S40
Earnings, weekly and hourly
Eating and drinking places
Eggs and poultry
Electric power
Electrical machinery and equipment
SECTIONS
General:
Business indicators
Commodity prices
Construction and real estate
Domestic trade
1-7
?~9
9,10
10-12
Labor force, employment, and earnings
Finance
Foreign trade of the United States
Transportation and communications
12-16
16-21
21-23
23,24
Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products; tobacco
Leather and products
24,25
25,26
26-30
30
Lumber and products
Metals and manufactures
Petroleum, coal, and products
Pulp, paper, and paper products
31
31-34
34,36
36,37
Rubber and rubber products
Stone, clay, and glass products
Textile products
Transportation equipment
37
38
38-40
40
INDIVIDUAL SERIES
10,11,16
Advertising
40
Aerospace vehicles
16
Agricultural loans
23
Air carrier operations.
4,6,7,40
Aircraft and parts
25
Alcohol, denatured and ethyl.
Alcoholic beverages
11,26
Aluminum
-.
33
Apparel
1,3,4,8,9,11-15,40
Asphalt and tar products
35,36
Automobiles, etc
1,3-9,11,12,19,22,23,40
Balance of international payments
Banking
Barley
Battery shipments
Beef and veal
Beverages
4,8,11, 22,
Blast furnaces, steel works, etc
Bonds, outstanding, issued, prices, sales, yields
Brass and bronze.
Brick
.
Broker's balances
;
Building and construction materials... .
10,31
Building costs.
Building permits
Business incorporations (new), failures.
Business sales and inventories
Butter
2,3
16,17
27
34
28
23.26
5-7
18-20
33
38
20
7-8,
36,38
10
10
7
5
26
28
Cattle and calves
Cement and concrete products
9, 10,38
8
Cereal and bakery products
12
Chain-store sales, firms with 11 or more stores. . .
26
Cheese
Chemicals
4-6,8,13-15,19, 22-25
30
Cigarettes and cigars
9,38
Clay products
Coal
4,8,22, 34,35
23,29
Cocoa
23,29
Coffee
35
Coke
Communication
2, 19,24
Confectionery, sales
29
Construction:
Contracts
9
10
Costs
Employment, unemployment, hours, earnings.. 13-15
1
Fixed investment, structures
Highways and roads
9,10
10
Housing starts
New construction put in place
9
17,18
Consumer credit
1
Consumer expenditures
3,4
Consumer goods output, index
Consumer price index
7,8
33
Copper
27
Corn.
7,8
Cost of living (see Consumer price index)
Cotton, raw and manufactures
7,9,22, 38,39
30
Cottonseed cake and meal and oil
Credit, short- and intermediate-term
17,18
Crops
3,7,27,28, 30,38
Crude oil and natural gas
. 4,35
Currency in circulation
19
Dairy products
Debits, bank
Debt, U.S Government
Department stores
Deposits, bank. •
Disputes, industrial
Distilled spirits
Dividend payments, rates, and yields
Drug stores, sales
3,7,8, 26,27
16
18
11,12
16,17,19
16
26
2,3,18-21
11,12
14,15
11,12
3,7,28,29
4,8,25,26
4-8,
13-15,19,22,23,34
Employment estimates
12-15
Employment Service activities
16
Expenditures, U.S Government
18
Explosives
25
Exports (see also individual commodities).. . . 1,2,21-23
Express operations
23
Failures, industrial and commercial
7
Farm income, marketings, and prices
2,3,7,8
Farm wages
15
Fats and oils
8,22,23,29,30
Federal Government
finance
18
Federal Reserve banks, condition of
16
Federal Reserve member banks
17
Fertilizers
8,25
Fire tosses
10
Fish oils and
fish
29
Flooring, hardwood
31
Flour, wheat
28,29
Food products
1,4-8,11-15,19,22,23,26-30
Foreclosures, real estate
10
Foreign trade (see also individual commod.)
21-23
Foundry equipment.
34
Freight cars (equipment)
4,40
Fruits and vegetables
7,8
Fuel oil
35,36
Fuels
4,8,22,23, 34-36
Furnaces
34
Furniture
4,8,11-15
Gas, output, prices, sales, revenues
Gasoline
Glass and products
Glycerin.
Gold
Grains and products
Grocery stores
Gross national product
Gross private domestic investment
Gypsum and products
4,8,26
1,35
38
25
19
7,8,22,27,28
11,12
1
1
9,38
Hardware stores
11
Heating equipment
9,34
Hides and skins
8,30
Highways and roads
9,10
28
Hogs.
8
Home electronic equipment
10
Home Loan banks, outstanding advances
10
Home mortgages
40
Hosiery
24
Hotels
Hours of work per week.
14
Housefurnisbings. ..'...'.'.'.'.'.'.'.'.'.'.'.'.'.'.'.'.'.' 1,4,8,11,12
Household appliances, radios, and television sets.
4,
8,11,34
Housing starts and permits
10
Imports (see also individual commodities)
1,22,23
Income, personal
2, 3
Income and employment tax receipts
18
Industrial production indexes:
By industry
3,4
By market grouping
3,4
Installment credit
12,17,18
Instruments and related products
4-6,13-15
Insurance, life
18,19
Interest and money rates
17
Inventories, manufacturers* and trade
5,6,11,12
Inventory-sales ratios
5
Iron and steel
4,5-7,9,10,19,22, 23,31,32
Labor advertising index, strikes, turnover
16
Labor force
12,13
Lamb and mutton
28
Lard
28
Lead
33
Leather and products
4,8,13-15,30
Life insurance
18,19
Linseed oil
30
Livestock
3,7,8,28
Loans, real estate, agricultural, bank, brokers*
(see also Consumer credit)
10,16,17,18,20
Lubricants
35,36
Lumber and products
4,8,10-15,19,31
Machine tools
34
Machinery
4,5-«, 13-15,19,22,23,34
Mail order houses, sales
11
Man-hours, aggregate, and indexes
14
Manmade fibers and manufactures
9,39
Manufacturers* sales (or shipments), inventories,
orders
4-7
Manufacturing employment, unemployment, production workers, hours, man-hours, earnings. . . 13-15
Manufacturing production indexes
3,4
Margarine
29
Meat animals and meats
3,7,8,22, 23,28
Medical and personal care
7
Metals
4-7,9,19,22,23,31-33
Milk
27
Mining and minerals
2-4,9,13-15,19
Monetary statistics
19
Money supply
19
Mortgage applications, loans, rates
10,16,17,18
Motor carriers
23,24
Motor vehicles
1,4-7,9,11,19,22,23,40
Motors and generators
34
National defense expenditures
1,18
National income and product
1,2
National parks, visits
24
Newsprint
23,37
New York Stock Exchange, selected data
20,21
Nonferrous metals
4,9,19,22,23,33
Noninstallment credit
17
Oats
27
Oil burners
34
Oils and fats
8,22,23,29,30
Orders, new and unfilled, manufactures*
6,7
Ordnance
13-15
Paint and paint materials
Paper and products and pulp
8,25
4-6,
9,13-15,19,23,36,37
Parity ratio
7
Passports issued
24
Personal consumption expenditures
1
Personal income
2,3
Persona] outlays
2
Petroleum and products
4-6,
8,11,13-15,19,22,23,35,36
Pig iron
32
Plant and equipment expenditures
2,20
Plastics and resin materials
25
Population
12
Pork
28
Poultry and eggs
3,7,28,29
Prices (see also individual commodities)
7-9
Printing and publishing
4,13-15
Profits, corporate
2,19
Public utilities
2-4,8,9,13,19-21
Pullman Company
24
Pulp and pulpwood
36
Purchasing power of the dollar
9
Radiators and convectors
34
Radio and television
4,10,11,34
Railroads
2,15,16,19,20,21,24,40
Railways (local) and bus lines
23
Rayon and acetate
39
Real estate
10,17,18
Receipts, U.S. Government
18
Recreation
8
Refrigerators and home freezers
34
Rent (housing)
7
Retail trade
5,8,11-15,17,18
Rice
27
Roofing and siding, asphalt
36
Rubber and products (incl. plastics)
4-^6,
9,13-15,23,37
Saving, personal..
Savings deposits
Securities issued
Security markets
Services
Sheep and lambs
Shoes and other footwear
Silver
Soybean cake and meal and oil. . . . "
Spindle activity, cotton
Steel (raw) and steel manufactures
Steel scrap.
Stock prices, earnings, sales, etc
Stone, clay, glass products
Stoves and ranges
Sugar
Sulfur
Sulfuric acid
Superphosphate
2
17
19,20
20,21
1,7,13
28
8,11,12,30
19
30
39
31,32
31
20,21
4-6,8,13-15,19,38
34
23,29
25
24
25
Tea imports
29
Telephone and telegraph carriers
24
Television and radio
4, 10,11, 34
Textiles and products
4-6,8,13-15,19,22,23,38-40
Tin
33
Tires and inner tubes
9,11,12,37
Tobacco and manufactures
4-6,9,11,13-15,30
Tractors
34
Trade (retail and wholesale)
5,11,12
Transit lines, local
23
Transportation
1,2,8,13,23,24
Transportation equipment
4-7,13-15,19,40
Travel
23,24
Truck trailers
40
Trucks (industrial and other)
34,40
Unemployment and insurance
U.S. Government bonds
U.S. Government
Utilities
12,13,16
16-17,20
finance
18
2-4,9,13,19-21,25,26
Vacuum cleaners
Variety stores
Vegetable oils
Vegetables and fruits
Veterans' benefits
Wages and salaries
Washers and driers
Water heaters
Wheat and wheat
Wholesale price indexes
Wholesale trade
Wood pulp
Wool and wool manufactures
Zinc.
34
11,12
29,30
7,8
16,18
flour
2,3,14,15
34
34
28
8,9
5,7,11,13-15
36
9,39
33
UNITED STATES
GOVERNMENT PRINTING OFFICE
DIVISION OF PUBLIC DOCUMENTS
WASHINGTON, D.C. 20402
OFFICIAL
BUSINESS
The best single source
of information concerning the activities of
the NATIONAL BUREAU
of STANDARDS is the
echnical
Mews
ulletin
Measurement Standards and
Techniques
Properties of Matter and Materials
Engineering Standards
Inflfenation Processing
Standard Reference Materials
Radiation Research
Instrumentation
Building Research
Calibration Services
Metric Units and Their Uses
ORDER FROM:
of Documents
Government Printing Qifee
Washington, && 20402
. , * or '
Any De^rtmant 0f Comfti&ret
FfeW, wlct ' ; }
Matit cMcfe w money order
payable to $yp*Hriim&fit nl
Documents '
'
U.S. DEPARTMENT OF COMMERCE
I wish to subscribe to TECHNICAL NEWS BULLETIN for 1, 2,
or 3years (circle one). Enclosed is $
(send only check,
money order, or Supt. Docs, coupon). Or charge Deposit
Account No.
. Catalog No. C 13.13
Subscription price: Domestic, $3; Foreign $4.
FOR USE OF SUPT. DOCS.
Mail to:
Name_
Address.
City
State.
.Zip.
@FedFRASER