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OCTOBER 1970 / VOLUME 50 NUMBER
Jm\J
SURVEY OF
CURRENT BUSINESS
OCTOBER 1970
/ VOLUME 50 NUMBER
10
SURVEY OF CURRENT BUSINESS
CONTENTS
U.S. Department of Commerce
Maurice H. Stans / Secretary
Rocco C. Siciliano / Under Secretary
THE BUSINESS SITUATION
Summary
1
Second Quarter Regional and State Income Changes
National Income and Product Tables
3
8
Harold C. Passer / Assistant Secretary
for Economic Affairs
Office of Business Economies
George Jaszi / Director
Morris R. Goldman / Associate Director
Lora S. Collins / Editor
Leo V. Barry, Jr. / Statistics Editor
Billy Jo Hurley / Graphics
ARTICLES
Industrial Impacts of Residential Construction
and Mobile Home Production
14
Sales of Foreign Affiliates of U.S., Firms
1961-65, 1967 and 1968
18
STAFF CONTRIBUTORS TO THIS ISSUE
21
Business Review and Features:
Donald A. King
Robert B. Bretzfelder
The International Investment Position of the
United States: Developments in 1969
Revised Estimates of Retail and Business Inventories
38
CURRENT BUSINESS STATISTICS
General
S1-S24
Industry
S24-S40
Subject Index (Inside Back Cover)
Articles:
Allan H. Young
Claiborne M. Ball
R. David Belli
David T. Devlin
George R. Kruer
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Ph. 583-5615.
the BUSINESS SITUATION
GNP rose $14 billion in the third
quarter, a somewhat larger increase
than in the second. The rise in prices
continued at about the same rate as in
the second quarter. Measured in real
terms, the Nation's output rose $2J/£
billion or at an annual rate of 1^2
percent.
The statistics for September indicate
general sluggishness in business activity
E«
jCONOMIC activity showed a
modest expansion during; the third
quarter, despite the adverse effects
of the automobile strike. Measured
in current dollars, gross national product rose $14 billion, a somewhat
larger gain than the $11% billion in
the second quarter, and substantially
greater than the $7% billion increase
in the first quarter of this year. The
rise in prices continued at about the
same rate as in the second quarter,
and the implicit price deflator rose
at an annual rate of nearly 4% percent.
Measured in real terms, the Nation's
output increased $2% billion or at an
annual rate of 1% percent; real output
was essentially unchanged in the second
quarter following a decline of $5%
billion in the first.
The third quarter acceleration in
GNP was due entirely to the increase
in final sales which amounted to $13
billion as compared with $10 billion
in the second quarter. On the basis of
incomplete data, inventory investment
is estimated to have increased very little
in the summer. Although the strike at
General Motors affected only the last
2 weeks of the quarter, its impact—
which primarily affected inventories—
is estimated at an annual rate of about
$2 billion. Of course, as the strike
extends into the fourth quarter, it
has a bigger impact on activity because
the direct loss of auto output will be
increasingly augmented by secondary
or indirect effects.
Major components of final sales
The accelerated expansion of final
sales in the third quarter reflected
increased strength for all major components except net exports, where
expansion
was unchanged,
and
consumer spending, where growth
slackened noticeably (chart 2).
Cautious attitudes among consumers
held the rise in personal consumption
expenditures to only $8 billion in the
summer quarter; spending rose $11%
billion in the second quarter and $10%
billion in the first. The relatively
small third quarter increase reflected
weakness in expenditures for goods,
particularly for durables; service outlays continued on their upward course.
After showing a fairly strong pickup in
the spring, spending for durables declined slightly because of cutbacks in
purchases of furniture and household
appliances; outlays for autos and parts
showed virtually no change, while
spending for other durables was up a
little. Consumer expenditures for nondurable goods increased about $1 billion
less than in the spring quarter. During
the summer, the rise in consumer
spending fell short of the $9% billion
expansion in disposable personal income, and the saving rate—personal
saving as a percentage of disposal
income—inched up to 7.6 percent from
7.5 percent in the second quarter.
The saving rate was 6.7 percent in the
first quarter and averaged 6.0 percent
in 1969.
CHART 1
Third quarter GNP rose $14 billion
Billion $
30 -
20 -
10 -
FINAL SALES accounted for most of the rise
30 -
20 -
10 -
INVENTORY INVESTMENT was little changed
10 -
-20 -
REAL OUTPUT increased 1 '2 percent
Percent
10 -
The GNP DEFLATOR rose 4 Vi percent
10 -
!'nmrTrn.[f i. n
1967
1968
1969
Change From Previous Quarter
Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Office of Business Economics
1970
SURVEY OF CURRENT BUSINESS
While consumer spending added less
to the expansion of GNP in the third
quarter than in the second, government
purchases added considerably more.
The swing in total government purchases, from a decline of $1% billion in
the second quarter to an increase of $3
CHART 2
Changes in Components of Final Sales
In the third quarter:
• Growth of consumer spending slowed
• Most other major components showed
more strength
Billion $
30 -
TOTAL
20 10 -
PERSONAL CONSUMPTION EXPEWMTURES
20 ~
10 -
10 -
BUSINESS FIXED INVESTEMENT
-5 ~
10 -
RESIDENTIAL STRUCTURES
-5 10 -
FEDERAL GOVERNMENT PURCHASES
5 -
-5 10 ~
STATE AND LOCAL GOVERNMENT PURCHASES
5 -
1967
1968
1969
Change From Previous Quarter
Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Office of Business Economics
1970
billion in the third, was the main factor
in the stepped-up growth of final sales.
Primarily because of a strong revival
in construction outlays, State and local
purchases rose $3% billion, a much
larger increase than in the second
quarter. Federal purchases, which had
declined $2% billion in the spring and
were a big drag on the second quarter
expansion of GNP, fell only $% billion
in the summer. Defense purchases
declined by more than $1% billion, but
this was partly offset by an increase
in nondefense spending of nearly $1
billion.
Investment expenditures also showed
some acceleration in the third quarter.
Reflecting the recovery in homebuilding activity that has been evident since
late spring, residential investment rose
$% billion; these expenditures, which
had been contracting for more than a
year, declined by this amount in the
second quarter. Business fixed investment also registered a bit more strength
in the third quarter than in the second.
October 1970
manufacturing industries. In terms of
the major market sectors, output of
consumer goods other than autos fell,
materials production declined, and the
pronounced contraction in both business and defense equipment continued.
Employment and income
The number of unemployed persons
rose 375,000 in September to 4.6 million, seasonally adjusted, and the unemployment rate jumped to 5.5 percent
from 5.1 percent in August. The number
of workers employed was essentially
unchanged from August, and the sharp
rise in the jobless rate resulted from
labor force growth.
Nearly four-fifths of the increase in
the number of unemployed occurred
among 16-24 year olds. The Labor
Department cautioned that the high
concentration of unemployed in this
group may reflect the fact that the
household survey was taken during
Labor Day week, and may have included young people who had not yet
given up summer job seeking efforts—
September Developments
i.e., not left the labor market—before
their return to school. Women acThe statistics for September indicate
counted for virtually all the rise in
general sluggishness in business activunemployment among those 25 years
ity. Industrial production declined, in
and over. The jobless rate for females
part reflecting the strike at the Genin this age group rose 0.3 of a percenteral Motors Company. Employment
age point to 4.4 percent seasonally
was essentially unchanged, but the
adjusted; the rate for men in this
number of unemployed and the ungroup was unchanged at 3 percent.
employment rate rose sharply. Personal
Because the survey was taken early
income registered a moderate advance,
in September, these data do not rea large part of which reflected the retroflect any loss of employment associated
active pay increase for postal employees. To judge from weekly data, with the auto strike. Striking employees
retail sales were showing little change are not considered unemployed in the
in September; sales had improved household survey; however, workers
noticeably in July but leveled off in who lose their jobs as a result of secondAugust. Wholesale prices, after a de- ary strike effects are counted, and
their numbers will show up in the data
cline in August, rose in September.
for October.
Industrial production
Employment in nonagricultural esThe Federal Reserve index of pro- tablishments rose about in line with
duction declined sharply in September seasonal expectations and, on a seasonafter 3 months in which mixed changes ally adjusted basis, was unchanged
showed overall production stable. The from August. Moderate employment
index fell 3 percentage points to 166.0 increases in trade, services, and State
percent of the 1957-59 average, and and local government offset a sizable
stood 5 percent below its peak in July decline in contract construction and a
1969. About two-thirds of last month's small reduction in Federal employdecline was a result of the auto strike; ment; the number of workers on paythe balance reflected slack in most other rolls in both durable and nondurable
October 1970
goods manufacturing was unchanged
from August. The September survey of
nonfarm establishments was also taken
early in the month and did not reflect
the auto strike. Striking workers will
not be in the payroll employment
figures for October; their exclusion will
show up as a reduction in the payroll
series of about 325,000 workers.
The measurement of the average
workweek was affected by the fact that
the survey week included Labor Day
and persons who did not receive holiday
pay were reported as having reduced
weekly hours of work. The September
figures show substantial declines in
both the average workweek and overtime in manufacturing. The average
workweek for all employees on nonfarm
payrolls fell 0.4 hour (seasonally adjusted) to 36.8 hours and overtime in
manufacturing fell 0.3 hour to 2.7
hours.
Although payroll employment held
steady last month, it declined substantially during the third quarter; the
summer weakness was widespread and
greater than that in the spring (table 1).
Personal income rose $5K billion in
September at a seasonally adjusted
Table 1.—Change in the Number of Employees on Nonagricultural Payrolls l
[Thousands of workers, seasonally adjusted]
1969
All
IV
I
316
341
300
-255
7
3
2
1
2
1
1
—5
—5
0
—4
—5
1
39
31
8
—24
-36
12
—80
-77
-3
—85
— 78
-7
g
-1
C onstruction
Production
Nonproduction
-3
-1
A
Durables manufacturing. .
Production
_ _
Nonproduction
Nondurables manufacturing
Production
Nonproduction
__ _
II
HI
Mining
Production
Nonproduction
__
1970
33 -118
28 -126
III
—437
5
8
-189 -251
— 180 -187
— 9 — 64
-238
-169
—69
g
—7
15
1
-15
16
24 — 102
14 — 100
-2
10
—58
—47
— 11
Transportation and
utilities
31
g
37
— 16
40
Wholesale trade
30
36
48
18
— 10
Retail trade
79
62
114
-25
—28
Finance, insurance, and
real estate
35
34
44
21
—3
Services
84
145
121
43
—35
-13
-24
8
27
-145
30
151
116
114
126
Federal Government
State and local government
1. Computed on quarterly averages. Source: BLS.
SUKVEY OF CUEEENT BUSINESS
3
annual rate. Government wages and
salaries were responsible for half of this
rise. State and local government payrolls increased about $% billion, while
Federal payrolls were boosted $2% billion by the pay raise for postal workers.
Of the latter amount, $2 billion reflected a one-time retroactive payment
covering the April-to-August period;
this portion of the pay increase will not
be in the personal income figures for
October. Private wages and salaries
increased only about $}£ billion in
September, with the service industries
accounting for most of this increase.
The nonwage components of personal
income rose about $2 billion last
month. Interest income showed another good-sized gain as did transfer
payments. The latter received an added
boost in September from the cost of
living increases in Civil Service benefit
payments to retirees and their survivors, and from the recently enacted
increase in railroad retirement annuities.
and in 43 of the 50 States. In most
areas, the advance in the second
quarter was significantly larger than
in the first. However, most of the
second quarter acceleration was due
to unusually large increases in transfer
payments—mainly the increase in social
security benefits—and a pay raise for
Federal employees.
Total personal income in the Nation
rose 2l/2 percent in the second quarter,
seasonally adjusted, as compared with
an advance of about \% percent in
the first. The Federal pay increase
pushed Federal Government payrolls
up by 10 percent and the increase in
social security benefits boosted total
transfer payments by nearly 14 percent.
Because a large part of these payments
were retroactive, some of the big
second-quarter gains reflected payments that were associated with first
quarter obligations. When transfer payments and Federal payrolls are excluded
from the second quarter increase in
personal income, the relative gain is
reduced from 2% percent to threefourths of 1 percent.
The personal income gain excluding
Federal payrolls and transfers accelerated in the second quarter in three
regions—Rocky Mountain, Southwest,
and Far West—and in 20 States. In
the first two of these regions and most
of these States, the acceleration is traceable directly to unusually large spurts
in farm income. Conversely, weakness
in the Plains reflected a decline in
agriculture income. The effects of each
of these three income components—
transfer payments, Federal payrolls,
and farm income—on regional changes
can be seen in the accompanying text
table. By showing income changes,
excluding the three components in
varying combinations, both the percent
change in the component and its
importance in the region's income
structure are measured.
Wholesale prices
After declining more than seasonally
in August, wholesale prices turned
around and rose 0.5 percent in September. In both months the swing in the
overall index resulted mainly from the
highly volatile farm products component; prices of farm products declined
sharply in August and rose sharply in
September. The corn blight apparently
had a significant impact on the farm
products component last month, as the
prices of corn and other grains surged
upward.
Prices of processed foods and feeds
showed little change in September, and
prices for industrial commodities were
up 0.3 percent. Among the industrial
commodities, prices of machinery and
equipment and transportation equipment moved higher, and very large increases w^ere recorded for fuels and
power. On the other hand, prices in the
chemicals, rubber, and metals groups
recorded declines.
Second Quarter Regional and
State Income Changes
Personal income rose in the second
quarter of 1970 in seven of the eight
regions—the Plains is the exception—
Second quarter area differences
While the percent increases in transfer
payments and in Federal payrolls were
fairly uniform in the regions and States,
the importance (weight) of these income components in regions' or States'
(Continued on page 12)
SUEVEY OF CURRENT BUSINESS
October 1970
CHART 3
• GNP rose $14 billion in third quarter- the largest gain in past year; real GNP rose 11/2 percent at an annual rate
• In September: The jobless rate jumped to 51/2 percent, the highest level in 6 years
•
Wholesale prices advanced, farm products accounted for bulk of the rise
TOTAL PRODUCTION
PRICES
THE LABOR MARKET
Billion $
Million Persons
Percent
1,000
IMPLICIT PRICE DEFLATOR FOR GNP
(Change From Previous Quarter)
CIVILIAN LABOR FORCE AND
EMPLOYMENT*
950 -
79 -
900 -
77 -
75
800
Monthly (Sept.)
Quarterly (III)
Quarterly (III)
J_
Billion $
40
CURRENT DOLLAR GNP**
(Change From Previous Quarter)
1957-59=100
135
CONSUMER PRICES
UNEMPLOYMENT RATE*
30
130
Total
Total
20
/V
Married Men
120
i I i 1 1 i 11 i 11 i i I i i i i 1 1 i i i i i I i i i i i I i i i i i
Monthly (Sept.)
Quarterly (III)
Billion $
Million Persons
800
76
Monthly (Aug.)
Billions
1957-59=100
WHOLESALE PRICES
NONFARM ESTABLISHMENTS
(Employees)
72
Total
BLS
120
CONSTANT DOLLAR (1958) GNP**
750
115 I I I I I I I I I I I I I I I 1 I I t ! I M I I I I I I I I i M I I
BLS
115
Employment
(left scale)
Ny
Total
\
700
k
-
Inventory Change
-'
Final Sales
1
1
I
I
I
i
i
t
i
110
130
105
60 I ( 1 I I I I I I 1 I I 1 I I I I I I I 1 I I 1 I I I I I I I 1 I I I I I 120
Monthly (Sept.)
QBE
Quarterly (III)
140
\
Man-Hours*
(right scale)
_
650
600
68
Hours
12
Monthly (Sept.)
Dollars
3.40
45.0
PRODUCTION OR NONSUPERVISORY WORKERS
(PRIVATE)
X
s
CONSTANT DOLLAR (1958) GNP*
(Change From Previous Quarter)
42.5
100 1 1 1 I LI 1 i i I i I I 1 I 1 I I i I I I { I I I I I M I i t I
BLS
1957-59=100
130
WHOLESALE PRICES
3.20
llll
-
37.5
<*V*^.NXT
-4
35.0
1969
1968
1970
QBE
Quarterly (III)
* Seasonally Adjusted
* * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Office of Business Economics
./s-^^v^^
s*~s^*~**~~~
,_/
M 1 M 1 1 1 M I
1968
- 3.00
110
-
2.80
100
^-•-Vv-
2.60
90
^
Average Weekly Hours*
(left scale)
Monthly (Sept.)
*'\
/Ny
_
Farm Products
—^
^"*^^\
1 | M 1 | 1 | J | |! 1 1 1 1 1 1 M I 1
1969
>-~
r-^
Processed Foods
r^^r^
and Feeds ^/
120
Average Hourly Earnings f ,—-*'
(right scale) \ _ /
40.0
BLS
1970
BLS
1 11 I111 1 1 1 1 11 i i11 i11 ii
1968
1969
Monthly (Sept.)
111 1111 11 11
1970
BLS
5
SURVEY OF CUERENT BUSINESS
October 1970
1
CHART 4
• Personal income rose about $51/2 billion in September
• In third quarter: Personal consumption expenditures rose $8 billion, somewhat less than in the second quarter
•
Business fixed investment up very little; residential investment increased after a year long decline
INCOME OF PERSONS
CONSUMPTION AND SAVING
Billion $
850
Billion $
650
100
PERSONAL INCOME**
800
750
g.^/
/
700
/
600
-^
550
l I1 1 l 11 I i I [ 1 M
1 1 1 1 1 1 1
Monthly (Sept.)
i
450
Billion $
35
—,
400
^
- 200
_*
/
- 150
i i i
1
1
1
i
0
i
. ^f~~
^ '
^**
90
-
25
-
^ """ """
80
A
\~
20
Excluding
15
i iiii 1ii i 11
Automotive Group
/^^
100
QBE
i i i i i i 11i j i
M M 1 1 1 1 1 1 1
Monthly (Aug.)
1
60
o
-
^^
1
1
1
1
\ A
^_\,_.
i i ii 1 i i i ii
i i i i | i i i ii
Monthly (Sept.)
QBE
10
^^
_/^
r-^T
1968
1
1
1969
1
1
1
1 1 1 1 1 M
1 1 1
A.
2
5
0
4
':./
in i i 1 i i i i - i
1 1 1 1 1 1 M
1 II
1 l 1 l l 11l 1 l 1
Monthly (Aug.)
Census
Million Units
2.5
PRIVATE HOUSING**
-
-
8
6
4
1970
* Seasonally Adjusted * * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Office of Business Economics
OBE-SEC
Shipments
Trade Sources & QBE
2.0
-
-
i
i
1968
QBE
^- —
^\^
i
1
/-/^
^ 1
I
I
I
1969
Quarterly (III)
1
1
-
1
1.0
.5
1970
"""
-
^-o!$r
Permits
1 1 1 M
1968
QBE
.A ~
'^T\/\
1.5
^s^.
Quarterly (III)
1
I . I
A
-
1
A
f^
-
1
i
• Expected
Starts
-
l
I . I
..-^.•*—""""X
PERSONAL SAVING RATE*
REAL PER CAPITA DISPOSABLE
PERSONAL INCOME**
-(In 1958 Dollars)
i
!•
. A//&>~^^
^r^.**
12
~ S~~
^
New Orders
6
-
/V^
Percent
2,700
2,500
II
1
^
1
1
w
Imports
(right scale)
4
1
Dollars
2,300
^^/
6
\
7
V
Quarterly (III)
2,400
8
^
1
QBE
/v/*x
550
2,600
Domestic
(left scale)
10
/^
1
1
CAPITAL GOODS MANUFACTURERS*
NEW CAR SALES**
S
1
1
Quarterly (IV)
Billion $
/^
1
Census
V2.
500
1
ss
70
-
Million Units
s'
i
-
Billion $
-
i
PLANT AND EQUIPMENT
EXPENDITURES **
700
600
i
Quarterly (III)
\f
Monthly (Sept.)
650
i
QBE
\
l 1 1 I I 1 l 1 I i.l
DISPOSABLE PERSONAL INCOME
"
Residential Stru ctures**
Tota
,'—
Manufacturing
(right scale)
i 1 1 1 1 | in11
i i i 1.1 1 i i i M
25
^^^*+
Y'
-" "/
450
rt*iiill^>*?r
_
i
^^^~^~^
S~
.^
S^
-
Billion $
30
**
^« •*"* """" """'
~ Nonresidential S ructures**
RETAIL STORE SALES*
-
—
\
100
WAGES AND SALARIES**
500
~
*-
50
-
Quarterly (III)
Billion $
Total
(left scale)
\
i
QBE
600
550
Producers1 Durable Equipment**
75
^
500
niiiiliii.ii
^
~
,/
650
.^ ^
PERSONAL CONSUMPTION EXPENDITURES**
~
-
FIXED INVESTMENT
Billion $
1 1 1 1 1 1
1 1 1 1 1 1 1 1 1
1969
Monthly Aug.)
M
1 1 1 1 1 l l l 1
1970
Census
SURVEY OF CURRENT BUSINESS
October 1970
» In third quarter: inventory investment increased a little further
•
Net exports continued to show improvement
*
Federal purchases of goods and services continued to decline- State and local purchases up
INVENTORIES
FOREIGN TRANSACTIONS
Billion $
GOVERNMENT
Billion
40
140
NET EXPORTS**
CHANGE IN BUSINESS INVENTORIES**
(GNP Basis)
30
-
20
-
-
8
FEDERAL PURCHASES OF
GOODS AND SERVICES**
-
120
-
100
- ^^-
Total
Goods and Services
4
^
\^_
/
10
— ""'"""" ~"Nv
0
Quarterly (III)
'**
Defense
\
80
i
-4
l
Merchandise
i l l
l
QBE
t
<sn
Quarterly (III)
Billion $
Billion $
4.0
4
s*
~
Total
\
160
*S
/^
_
3.0 ~~
.s
i i 11 11 11 111
140
2.5
i11t 1111ii
i i 11 i 1ii 11i
Monthly (Aug.)
A /
1 \s
ys/^y. A./
^^
^s
150
Exports
\
3.5
^/^Vl 1 Ji
7 J r*i
C
^
Census & QBE
3
—
2
~~
i iii i1 i ii ii
Monthly (Aug.)
0
^ou
2
_
_
225
---"—
-
40
1 1 1 M
1 1 1 1 1 1
i i11 11 i11ii
i 11ii1 i111
Monthly (Aug.)
-2
-4
l
l
i
Census & QBE
l
l
i
.-•"s^
-
i
i
Quarterly (II)
175
- .,.-•'* /^
i
150
Billion $
Billion $
4
I/O
Manufacturing
2
1.6
1.4
^
0
s •^^N.
_
~ Total Manufactijring and Trade
Official Reserve Transactions Basis
A
~^~^
1.2
i ii11 11iii i iii11 i 11i
1968
1969
i i ii i 1 i ii i .
1970
Monthly (Aug.)
Census & QBE
* Seasonally Adjusted * * Seasonally Adjusted at Annual Rates
Department of Commerce, Office of Business
Digitized forU.S.
FRASER
Economics
-4
i
l
1968
l
\
i ^i
l
1
1
1
QBE
125
A / ' \/
Liquidity Basis
l
150
V~"\
\ Xv//\
-2
i
-
STATE AND LOCAL PURCHASES
OF GOODS AND SERVICES**
BALANCE OF PAYMENTS*
^^•^
^
s\
***^^~*^/
^^lA\~s>A
l
\
Expenditures
Quarterly (II)
Ratio
1R
l
QBE
2.0
INVENTORY/SALES RATIOS*
M
V^.....-^
^
v
-
i
1
Census
Receipts
Outflow
60
1 1 1 1 1 1 II
_
Trade
\ -
—
/
_
S\
^s. ^^f\
Q
\
FEDERAL BUDGET**
(NIA Basis)
Inflow
RO
'• :^S-S*~\
Monthly (Aug.)
NET FLOW OF PRIVATE U.S. AND FOREIGN CAPITAL
(Other than Liquid Funds)*
_
QBE
~
i iii iI iiii i i111 i1 1111i
Census
Billion $
^
l
Shipments
4
Manufacturing
i
k
. 1 \ r VV
Billion $
_
l
•. A A
r. i
.^^j ]A yVs^/ ' *p+*£\~~{\\L
Billion $
100
l
New Orders
120
MANUFACTURING AND TRADE INVENTORIES*
(Book Value, End of Month)
l
1
,,,,,,,,,,,11,,,
2.0
-
If
V
i
DEFENSE PRODUCTS*
MERCHANDISE TRADE*
~
l
Quarterly (III)
Billion $
MANUFACTURING AND TRADE INVENTORIES*
(Book Value, End of Month)
i
QBE
180
170
*
\
-Ill Illl...
0
r
^^ ~
S~~^~ ~'
^^^-^
_
100
V
/
i
1969
Quarterly (II)
i
i
i
75
1970
i
1968
QBE
l
l
t
1969
i
l
1
1
1
1970
Quarterly (III)
QBE
October 1970
SUEVEY OF CURRENT BUSINESS
<
> In September: Industrial produc tion down sharply, in part because of the aijto strike
€»
Bank credit up sharply ag ain; money supply unchanged, afte r a sharp rise in August
1»
Interest rates ar d bond yields continued lower and stock pri ces move d higher
4
INDUSTRIAL PRODUCTION
1957 59 = 1 00
Billior
190
460
MONEY, CREDIT, AND SECURITIES MARKETS
$
240
Bank Credit
/loft cralot
170
160
150
y* " "•
100
200
80
180
60
160
40
Before Taxes
\
340
1 1 1 1 1 1 1 M
1 1
Monthly (Sept.)
-^
300
— •*'
Money Supply
(right scale)
LI i i i 1 1 1 i i i i 1 1 t i 1 i i 1 1 i i i i i 1 1 i i i i i
FRB
Monthly (Sept.)
i
Billion$
200
2
120
INDUSTRIAL PRODUCTION*
175
150
125
-'
w \ C\ \
JS\
~
1
'
/
1
100
0
80
-1
60
1
i i 11 1 1 1 1 11 1 1 1 1 1 1 11111 1 1 111 1 11 111 1
Monthly (Sept.)
-2
i iiii 1i i i i i
FRB
iiiii 1i iiti
iiti i1 iiiii
Monthly (Sept.)
Perc ent
Perc ent
95
10
8
90
A^
i i
i i i
i
i
i
i"T" i
Quarterly (II)
i
QBE
Pe cent
Corporate Yields, Moody's Aaa j^^
16
OUTPUT AND COMPENSATION PER MAN-HOUR,
PRIVATE ECONOMY**
_ (Change From Previous Quarter)
Output
Compensation
/
8
4
i i i
2
0
i i i i1 i i i i i i iii i 1 i in i i i ii i1 iiMi
FRB
-8
Monthly (Sept.)
Billic n $
1941
40
140
Quarterly (II)
43 = 10
120
36
New Orders
BLS
Pe rcent
24
STOCK PRICES
DURABLE GOODS MANUFACTURERS*
UNIT LABOR COSTS, PRIVATE ECONOMY**
(Change From Previous Quarter)
16
Standard and Poor's 500
\
32
100
8
28
80
0
1968
QBE
...,.••-** *%.•'*' \
3-month Treasury Bills
Quarterly (II)
1 1 1 ! 1 1 1 11 1 1
l
24
6
80
24
l
Profits After Taxes
n
85
••VP^" *
-
40
Manufacturing
i i i
i
Cash Flow
\
FRB
INTEREST RATES AND BOND YIELDS
RATIO, OUTPUT TO CAPACITY*
75
t
!
\s
100
i
-i-T—^—
I ~
1 /
l
CORPORATE CASH FLOW AND PROFITS**
FREE RESERVES
Autos
i
Quarterly (II)
Billio n $
r
~
^^-~
FRB
1957- 59 = 1 00
i^X*.
_
\
«•**
i 1 1 1 1 1 1 1 1 1 1
220
-^^^^
380
X
" Nondurable
Manufactures
1 I i 1 1 1 1 1 1 1 1
120
CORPORATE PROFITS AND IVA **
420
~ U1 „ x
*—v Total
Durable Manufactures ^s
\(
/^^
s^.s*'"*'
$
BANK CREDIT AND MONEY SUPPLY*
INDUSTRIAL PRODUCTION*
180
PROFITS AND COSTS
Billior*
1.11 Hill.
Shipments
1 1 M
1 1 1 1 1 1
1969
1 1 1 1 1 11 11 1 1
1970
Census
Monthly (Aug.)
* Seasonally Adjusted * * Seasonally Adjusted at Annual Rates
of Commerce, Office of Business Economics
Digitized U.S.
forDepartment
FRASER
60
i i i i i l.i i.i i i i 1 1 i i 1 i 1 1 i i i 1 1 i 1 1 1 1 1 i i
1968
1969
Monthly (Sept.)
1970
, i
-8
1968
1969
Quarterly (II)
1970
BLS
SUEVEY OF CURRENT BUSINESS
8
October 1970
NATIONAL INCOME AND PRODUCT TABLES
1969
1968
1969
II
III
1970
1969
IV
1968
1969
II
Seasonally adjusted at annual rates
III
IV
II
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.. .
865.0
931.4
923.7
942.6
951.7
959.5
971.1
985.2
707.2
727.1
726.1
730.9
729.2
723 8
724.9 727 5
535.8
577.5
573.3
582.1
592.6
603.1
614.4
622.4
452 3
467 7
467.1
468.7
471 7
474 o
478 1 480 2
84.0
230.2
221.6
90.0
245.8
241.6
90.6
244.0
238.7
89.5
248.1
244.5
90.8
252.0
249.8
89.1
258.8
255.2
91.9
262.6
259.9
91.4
265.5
265.4
81.4
196.5
174.4
84.9
201 2
181.6
85.7
200.9
180. 5
84.1
201.9
182.7
84.9
202 4
184.4
82.7
205 6
185. 8
84.9 83.9
206 6 208 2
186.6 188. 1
126.5
139.8
139.3
143.8
140.2
133.2
134.3
136.8
105.7
111.3
111.5
114.1
110.0
102.9
103.1 102 6
118.9
131.4
131.4
132.4
133.0
131.6
131.2
132.8
98 8
104 1
104.8
104.2
103 9
101 5
100 1
99 5
Nonresidential _ _ _ _ _
Structures
Producers' durable equipment ._
88.7
29.6
59.1
99.3
33.8
65.5
97.5
32.3
65.2
101.5
35.2
66.3
102.6
35.1
67.5
102.6
35.7
66.9
102.8
35.3
67.5
103.7
35.4
68.4
75.5
22 7
52.7
80.8
24 0
56.9
80.2
23.1
57.0
81.9
24.6
57.3
82.1
24 3
57.8
80.9
24 4
56.5
80.2
23 5
56.7
79.6
22 8
56. 8
^Residential structures
Nonfarm
Farm
30. 3
29 7
.5
32.0
31 5
.6
33.9
33 3
.6
31.0
30 4
.6
30.4
29 8
.6
29.1
28 4
.6
28.4
27 8
.6
29.1
28 5
.6
23.3
22 9
.4
23.3
22 8
4
24.7
24 2
.4
22.3
21 8
.4
21.8
21 4
4
20.7
20 2
4
20 0
19 5
4
19. 9
19 5
4
7.6
7.5
.1
8.5
8.0
.4
7.9
7.6
.3
11.3
10.8
.5
7.2
6.5
.7
1.6
.9
.7
3.1
2.6
.5
4.0
3.5
.5
6.9
6.8
.1
7.2
6.8
.4
6.6
6.3
.3
9.9
9.3
.6
6.1
5.4
.8
1.3
.8
.6
2.9
2.5
.4
3. 2
2.7
.4
Personal consumption expenditures
Durable goods
Nondurable goods
Services..
...
.
Gross private domestic investment
Fixed investment
Change in business inventories
Nonfarm _
Farm
Net exports of goods and services
Exports ..
Imports
...
.
Government purchases of goods and services..
Federal
National defense
Other..
-.
State and local _
. . . .
2.5
1.9
1.3
2.6
2.6
3.5
4.1
4.7
.9
.2
-.3
.8
.9
1.9
2.4
2.9
50.6
48.1
55.5
53.6
57.2
55.9
58.3
55.6
58.8
56.2
61.1
57.6
62.8
58.7
63.5
58.8
45.7
44.8
48.5
48.2
50.7
51.1
50.8
50.0
50.0
49.1
52.0
50.1
52.9
50.5
53.4
50.6
200.2
212.2
209.9
214.1
216.3
219.6
218.4
221.3
99.5
78.0
21.5
100.7
101.3
78.8
22.6
110.8
99.8
77.9
21.9
110. 1
102.5
79.8
22.7
111.6
102.1
78.8
23.3
114.2
102. 3
79.3
23.0
117.4
99.7
76.8
22.9
118.7
99.0
75.2
23.8
122.4
148.3
147.8
147.9
147.3
146.6
145.0
141.3 141.7
78.7
75.7
75.8
75.2
73.8
71.1
67.8
67.2
69.6
72.1
72.1
72.1
72.9
73.8
73.5
74.5
Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3,1.5)
865.0
857.4
7.6
931.4
922.9
8.5
923.7
915.9
7.9
942.6
931.2
11.3
951.7
944.5
7.2
959.5
957.9
1.6
971.1
968.1
3.1
Goods output
Final sales
Change in business inventories ..
430.6
422 9
7.6
460.0
451 6
8.5
456 7
448 8
7.9
466.2
454 9
11.3
468.9
461 7
7.2
467.1
465 5
1.6
474.9
471 8
3.1
Durable goods
Final sales
Change in business inventories
176.1
170 4
57
190.2
183 9
6 4
189.4
182 7
67
192.7
184 8
79
192.7
187 4
53
185.3
185 5
— 3
Nondurable
Final sales
Change in business inventories
254 5
252.5
2 0
269 8
267.7
21
267 3 273 5
266.1 270.1
12
35
276 2
274.3
1.9
347 1
87 4
377 e
93 8
372 3
94 8
390 3
92 5
Gross national product
Final sales...
Change in business inventories
Services
Structures
383 0
93 3
985.2
981.2
4.0
707.2
700.3
6.9
727.1
719.9
7.2
726.1
719.4
6.6
730.9
720.9
9.9
729.2
723.0
6.1
723.8
722.4
1.3
724.9 727.5
721.9 724.3
3.2
2.9
4.0
380.7
373 8
6.9
392.2
385 0
7.2
391.1
384 5
6.6
395.7
385 8
9.9
393.5
387 4
6.1
387.3
386 0
1.3
391.1
388.2
2.9
186.6
188.5
—1 9
162.1
157 1
51
170.1
164 7
53
170.0
164.5
55
171.6
164.9
6.7
170.3
165.9
4.4
162.3
162.6
—.3
162.9
164.4
-1.5
281 8
280.0
19
288.3
283.3
5.0
218 6
216.7
1.8
222.1
220.3
1.8
221.1
220.0
1.1
224.1
220.9
3.2
223.3
221.5
1.8
225.1
223.4
1.6
228.3
223.8
4.5
400 1
92 3
405.8
90.4
260 0
66 6
268 2
66.6
267 2
67.8
269 8
65.4
271.3
64.4
273 1
63.4
272.8
60.9
3.2
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. . _ _ _ _
865.0
931.4
923.7
942.6
951.7
959.5
971.1
985.2
707.2
727.1
726.1
730.9
729.2
723.8
724.9 727.5
770.1
827.8
822.3
836.6
844.0
848.5
858.4
871.3
647.6
666.4
665.6
669.8
668.1
663.1
664.2 666.8
740 1
714.6
25.5
795 4
767.9
27.5
790 3
762 7
27.6
804 2
776 6
27.6
810 8
783.0
27.8
814 3
785.5
28.8
824.5
796.0
28.5
836.9
809.0
28.0
627". 2
603.4
23.8
646.0
622.5
23.6
645.3
622.0
23.3
649.7
626.2
23.5
647.6
624.7
22.8
642.1
619.5
22.6
644.0 646.7
621.0 623.7
23.0 22.9
25.3
4.7
28.1
4.3
27.8
4.2
28.3
4.1
29.0
4.2
29.6
4.5
30.0
3.9
30.5
3.9
15.9
4.5
16.4
4.0
16.3
3.9
16.3
3.8
16.6
4.0
16.7
4.3
16.5
3.6
16.5
3.7
111.0
112.8
113.9
59.7
60.7
60.5
61.0
61.1
60.7
60.7
60.6
94.9
103.6
101.4
106.0
107.7
p Preliminary.
HISTORICAL STATISTICS
National income and product statistics for earlier periods are available as follows:
Data for 1966-69, July 1970 SURVEY OF CURRENT BUSINESS; 1964-65, July 1968 SURVEY;
1929-63, The National Income and Product Accounts of the United States (available from
U.S. Department of Commerce Field Offices or from the Superintendent of Documents,
U.S. Government Printing Office, Washington, D.C. 20402, price $1.00 per copy).
SURVEY OF CURRENT BUSINESS
October 1970
1969
1968
1969
II
III
9
1969
1970
IV
I
II
III P
1968
1969
Seasonally adjusted at annual rates
Less: Capital consumption allowances. 74.0
78.9
78.2
79.4
80.7
82.1 83.6
985.2
85.0
791.1 852.5 845.5 863.1 871.0 877.4 887.5
900. 1
Less: Indirect business tax and nontax
78.1 85.2 84.3 86.6 87.7 89.3 91.1
liability
3.5
3.5 3.6
3.6
Business transfer payments
3.3 3.5 3.5
-2.4 —4.7 -5.3 -5.5 -4.3 -5.4 -3.1
Statistical discrepancy
93.0
3.6
E!oiials * Net national product
Plus: Subsidies less current surplus of
government enterprises
1.0
1.1
1.0
1.2
1.6
1.5
1.9
712.7 769.5 764.0 779.5 785.2 791.5 797.4
Equals : National income
Less: Corporate profits and inventory
valuation adjustment
Contributions for social insurance
.Wage accruals less disbursements
- - -Plus: Government transfer payments
to persons
- .
Interest paid by government
(net) and by consumers
Dividends
._ -. Business transfer payments
Equals * Personal income
85.4
85.8
87.4
86.8
82.0
76. 7
77.5
47.1
53.6
53.1
54.2
55.1
56.0
56.7
57.6
.0
.0
.0
.0
.0
2.5 -2.1
-.4
55.7
61.6
61.0
62.0
63.4
66.3
75.8
75.0
26.3
23.3
3.3
29.0
24.7
3.5
28.6
24.4
3.5
29.1
25.0
3.5
30.2
25.2
3.5
31.0
25.2
3.6
31.4
25. 1
3.6
32.2
25.4
3.6
688 7 748.9 741.1 758.1 770.5 782.3 801 3
807 1
Table 5.—Gross Auto Product in Current and Constant Dollars
(1.15, 1.16)
Billions of current dollars
Personal consumption expenditures. 30.2
5.3
1.1
36.6
34.8
31.8 31.5
5.6
5.6
.1 -1.2
37.6
35.8
712.7 769.5 764.0 779.5 785.2 791.5 797.4
514.1 564.2 557.5 572.2 582.1 592.2 596.4
603.8
464.8 509.0 502.9 516.4 525 3 534 4 537.4
369.1 404.9 401.2 409.9 417.2 422.6 424.0
17.9 19.0 18.4 19.9 19 6 20 1 19.5
77.8 85.1 83.4 86.6 88.5 91.7 93.9
543.4
428.9
19.2
95.4
Supplements to wages and salaries _ _ 49.3
Employer contributions for social
24.3
insurance
Other labor income
24.9
55.1
54.6
55.8
56.8
57.9
59.0
60.4
27.5
27.6
27.3
27.3
27.9
27.9
28 3
28 5
28 6
29 3
29.0
30.0
29.6
30.8
64.1
66.8
66.7
67.5
67 2
67 6
67.8
67.8
Business and professional
Farm .
49.1
15.0
50.5
16.4
50.5
16.2
50. 9
16.6
50.6
16.6
50.6
17.0
51.2
16.5
51.7
16.1
Rental income of persons _ .
21.3
22.0
22.0
22.1
22.3
22.5
22.6
22.7
85.4
85.8
87.4
86.8
82.0
76.7
77.5
88.7
91.2
93.4
89.9
88 5
82.6
82.0
40.6
48.2
23.3
24.9
42.7
48.5
24.7
23.9
43.8
49.7
24.4
25.2
42.1
47.9
25.0
22.9
41.4
47 1
25.2
21.9
38.0
44.6
25.2
19.4
38.1
43.9
25. 1
18.8
25 .4
-3.3 -5.4 -6.0 -3.2 -6.5 -5.8
-4.5
-5.8
33.1
33.8
Proprietors' income
Corporate profits and inventory valua-
Profits tax liability
Profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment
31.1
31.6 32.5 28.9
5.1
5.6
5.7
1.4 -1.1 -1.7
35.4
30.4
5.4
.8
Imports
Addenda:
New cars, domestic 2
New cars, foreign
32.5
4.4
32.2
5.6
30.8
5.5
33.5
5.6
30.7
6.5
26.4
6.2
35 4
Agriculture, forestry, and fisheries
nn rv
K'O
1 0
Manufacturing
Nondurable goods
Durable goods
1o
2 K
g
3'
30.7
6.7
or, e
Billions of 1958 dollars
35.3
35.0
33.3
35.8
33.9
29.2
33.2
32.8
Personal consumption expenditures . 29.5
Producers' durable equipment
5.3
Change in dealers' auto inventories. 1.1
30.3
5.4
.1
30.2 30.1
5.4
5.4
1 ° 1.4
30.8
5.5
11
27.1
4.9C
28.5
5.1
.8
5 'o
-1.1 -1.4 -1.3 -1.5 -1.4 -1.4
2.2
2^0
2.3
2.4
2.0
1.9
2.5
2.8
3.3 3.6
3.5
3.7
3.4
3.9
12
o 4^
3] 7
Gross auto product i
Net exports
Exports -. .Imports
Addenda :
New cars, domestic 2
New cars foreign
1
0
-
- -
32.2
4.4
31.4
5.5
30.1
5.4
32.7
5.5
29.8
6.3
25.3
6.0
29.5
6.4
28. 9
g' 2
27.8
v Preliminary.
404-263 O - 70 - 2
31.0
31.7
32.4
Transportation
Communication
Electric, gas, and sanitary services
712.7 769.5 764.0 779.5 785.2 791.5 797.4
22.4 24.3 24.1 24.5 24.8 25.2 24.8
42.7 47.4 47.1 48.0 48.9 49.1 49.1
213.0 226.2 226.0 228.8 227.3 223.6 222.9
81.8 87.0 87.0 87.5 88.5 88.8 88.7
131.2 139.3 139.0 141.3 138.9 134.8 134.2
27.1 29.2 29.0 29.5 30.1 31.0 30.5
14.2 15.9 16.0 15.9 16.1 16.4 16.6
13.4 14.2 14.0 14.6 14.2 12.7 12.8
106.4 115.2 114.7 116. 8 117.2 118.9 121.5
Finance, insurance, and real estate
77.9 83.5 83.0 84.2 85.3 86.5 87.4
Services
86.0 95.3 94.3 96.5 98.4 101.2 103.4
Government and government enterprises
104.7 114.1 111.7 116.7 118.6 122.5 124.6
Rest of the world
_ _
4.2
4.1 4.2
4.7
4.5
3.9
4.3
Table 8. — Corporate Profits (Before Tax) and Inventory Valuation
Adjustment by Broad Industry Groups (6.12)
.._ 85.4
85.8
87.4
86.8
82.0
76.7
Financial institutions
11.0
12.0
11.9
12.2
12.2
12.0
12.3
Nonfinancial corporations
74.4
73.8
75 4
74 6
69 8
64 7
65 2
Manufacturing
Nondurable goods
42.4
19.1
41.8
19.3
42.9
19.9
97 n
41.8
19.1
39.1
19.0
90 n
35.2
18.3
35.5
18.2
All industries, total..
97 7
1. The gross auto product total includes government purchases.
2. Differs from the gross auto product total by the markup on both used cars and foreign
cars.
30.7
30.4
Table 7.—National Income by Industry Division (1.11)
A,, industries> total
-.8 -1.1 -1.4 -1.4 -1.6 -1.5 -1.4
2.2
2.0
2.3 2.4
2.0
2.0
2.6
3.4
3.4
2.8
3.7
3.7
3.6
4.0
ei exports — -
Hip
Wages and salaries . .
Private
Military
Government civilian
Profits before tax
... 36.1
II
Compensation of employees
Net interest
Gross auto product i
I
Table 6.—National Income by Type of Income (1.10)
National income
865.0 931.4 923.7 942.6 951.7 959.5 971.1
-
IV
Billions of dollars
Table 4.—Relation of Gross National Product, National Income,
and Personal Income (1.9)
-
III
Seasonally adjusted at annual rates
Billions of dollars
Gross national product
II
1970
99 A.
99 7
1fi Q
77.5
17 9
SURVEY OF CURRENT BUSINESS
10
1969
1968
1969
II
October 1970
1970
III
I
IV
II
1969
III P
1968
1969
Seasonally adjusted at annual rates
II
III
1970
IV
I
II
III*
Seasonally adjusted at annual rates
Billions of dollars
Billions of dollars
l
Table 9.—Gross Corporate Product (1.14)
Table 10.—Personal Income and Its Disposition (2.1)
492.8 531.2 528.9 537.7 539.7 539.7 544.0
Gross corporate product
Personal income
49.8
49.3
50.1
51.0
52.0
53.0
54.0
48.6
48.1
49.3
49.9
50.7 .51.7
52.8
Income originating in corporate busi401.5 432.9 431.4 438.2 438.8 437.1 439.3
ness
319.2 349. 7 346.6 354.1 359.5 363.2 363.8
Compensation of employees
284.3 310.8 308.0 314.7 319.6 322.6 322.8
Wages and salaries
34.9 38.9 38.5 39.4 39.9 40.6 41.0
Supplements
368.2
326.2
42.0
Capital consumption allowances
. . 46.5
Indirect business taxes plus transfer
44.8
payments less subsidies
.9
Net interest
Corporate profits and inventory
valuation adjustment
Profits before tax
Profits tax liability
Profits after tax
Dividends •
Undistributed profits
Inventory valuation adjustment- Cash flow gross of dividends
Cash flow net of dividends
Gross product originating in
financial institutions
1.9
1.8
2.0
2.1
2.3
2.4
81.5 81.3 83.1 82.2 77.3 71.6 73.0
84.8 86.8 89.1 85.3 83.8 77.4 77.5
40.6 42.7 43.8 42.1 41.4 38.0 38.1
44.2 44.1 45.4 43.3 42.4 39.4 39.5
21 8 23 0 22 9 23 3 23 5 23 3 23.4
22.4 21 0 22.5 19.9 18.9 16.2 16.0
-3.3 -5.4 -6.0 -3.2 -6.5 -5.8 —4.5
90.7
68.9
93.8
70.8
94.7
71.8
93.4
70. 1
93.4
69.9
91.4
68.2
92.5
69.0
22 5
24 7
24.6
24.9
25.1
25 3
25.6
2.5
—5.8
688.7 748 9 741 1 758 1 770 5 782 3 801 3
Wage and salary disbursements
464.8
Commodity-producing industries . 181.5
Manufacturing
.
145.9
D istributi ve industries - 109.2
Service industries
78 4
Government.. .
95.7
27 9
28 5
29 3
30 0
30 8
66.7
50 5
16.2
67.5
50 9
16 6
67.2
50 6
16 6
67 6
50 6
17 0
67.6
51 2
16 5
67 8
51 7
16 1
Rental income of persons
Dividends.. .
Personal interest income
21 3
23.3
54.0
22 0
24.7
59.7
22 0
24.4
59.0
22 1
25 0
60.1
22 3
25 2
61 9
22 5
25 2
63 4
22 6
25 1
64 5
22 7
25 t
66 0
Transfer payments. .
Old age, survivors, disability, and
health insurance benefits
State unemployment insurance
benefits . .
Veterans benefits
Other... _
59.0
65.1
64.5
65.5
67 0
69 8
79 4
78 7
30 3
33 0
32 9
33 1
33 5
34 2
41 5
39 0
2.1
7 2
19.5
2.1
83
21.6
1.9
8 4
21.4
2.2
83
21.8
2.3
87
22 4
2 9
9 0
23 8
36
9 5
24 9
4 3
9 6
25 7
22.8
26.0
25.8
26.4
26 8
27 4
27 7
28 0
48.6
49.5
50.4
51.4
52.3
46.0
47.2
47.7
48.4
49.4
50.5
Equals: Disposable personal income,
Income originating in nonfinancial
corporations
382.2 411.8 410.4 417.0 417.4 415.5 417.5
Compensation of employees
301.2 329.9 326.9 334.1 339.1 342.3 342.9
268.6 293.5 290.9 297.3 301.8 304.4 304.6
Wages and salaries
Supplements
32.6 36.3 36.0 36.8 37.3 37.9 38.3
346.8
307.7
39.2
13.9
14.2
10.5
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 flo\v , net of dividends
12.6
70 4 69 4 71 1 70 0 65 1 59 6 60. 7
73.7 74.8 77.2 73.2 71.6 65.4 65.2
34.7 36.1 37.2 35.3 34.6 31.1 31.0
39.0 38.7 40.0 37.8 37.0 34.3 34.2
20 6 21.6 21.5 21.9 22.0 21 8 22.0
18.4 17.1 18.4 15.9 15.1 12.5 12.3
-3.3 -5.4 -6.0 -3.2 -6.5 -5.8 —4.5
84.1
- - - . - 63.5
87.0
65.3
87.8
66.3
86.5
64.5
86.5
64.6
84.7
62.9
-5.8
543.8
202.0
159 9
129 6
97 3
114 9
27 3
47.9
Net interest
807 1
66.8
50 5
16.4
46.5
13.6
539.5
201.5
159 6
127 0
95 5
115 5
27 6
48.3
13.3
531.9
202.7
160 7
125 9
93 9
109 3
64.1
49 1
15.0
42.9
12.9
525.3
202.5
160 8
123 8
90 9
108 1
24.9
45.1
12.4
516.4
199.9
159 7
121.3
88 7
106 5
Other labor income
Less: Personal tax and nontax payments- -
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies
502.9
196.0
156.4
118.5
86 7
101 7
Proprietor's income _ . . . . . .
Business and professional
Farm _
Less: Personal contributions for
social insurance
Gross product originating in
470.2 506.5 504.3 512.8 514.6 514.4 518.4
nonfinancial corporations
509.0
197.5
157.5
119.8
87 7
104. 1
97.5 117.3 118.1 117.5 119.9 117 0 117.7
114.1
591.2 631.6 623.0 640.6 650.6 665.3 683.6
693.0
550.8 593.9 589.7 598.7 609 6 620 5 632 1
Less : Personal outlays
Personal consumption expenditures _ 535.8 577.5 573.3 582.1 592.6 603.1 614.4
Interest paid by consumers
14.3 15.7 15.6 15.8 16.1 16 4 16 8
Personal transfer payments to for9
8
eigners
.7
.8
.9
.8
10
640 5
622.4
17 2
40.4
51.5
52.5
Addenda :
Disposable personal income:
499.0 511.5 507.5 515.9 517.8 522.9 532.0
Total, billions of 1958 dollars
2,939 3,108 3,070 3,148 3,188 3,252 3,333
Per capita, current dollars
Per capita, 1958 dollars .
- - - - - - 2,480 2,517 2,501 2,535 2,537 2,558 2,594
534.7
3,369
2,599
Equals : Personal saving
Personal saving rate,3 percent
6.8
37.6
6.0
33.3
5.3
42.0
6.5
41.1
6.3
44.8
6.7
7.5
10
7.6
85.6
63.7
Table 11.—Personal Consumption Expenditures by Major Type (2.3)
Billions of 1958 dollars
Gross product originating
nonfinancial corporations
in
415.1 432.5 432.9 435.6 433. 0 428.4 427.7
Personal consumption expendi535.8 577.5 573.3 582.1 592.6 603.1 614.4
tures
Dollars
Current dollar cost per unit of
1958 dollar gross product
originating 2 in nonfinancial
1.133 1.171 1.165 1.177 1.188 1.201 1.212
corporations
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies
Compensation of employees
Net interest
Corporate profits and inventory valuation adjustment
Profits tax liability
Profits after tax plus inventory valuation adjustment
.109
.112
.111
.112
.114
.118
.120
.103
726
.025
. 107 .106
763 .755
029 .029
.108
.767
,030
.110
783
.031
.113
799
.032
.116
802
033
.170
.084
160
.083
. 164 . 161 .150
.086 .081 .C80
.139
.073
142
072
.086
.077
.078
.080
.067
.069
.070
1. Excludes gross product originating in the rest of the world.
2. This is equal to the deflator for gross product of nonfinancial corporations, with the
decimal point shifted two places to the left.
p Preliminary.
622.
84.0
90.0
90.6
89.5
90.8
89.1
91.9
91. <
37.2
Automobiles and parts
Furniture and household equipment . 34.6
12.3
Other
40.3
36.7
13.1
40.0
37.2
13.4
40.2
36.7
12.6
41.1
36.9
12.7
37.7
38.3
13.1
39.4
38.9
13.6
39.,
38.
13
230.2 245.8 244.0 248.1 252.0 258.8 262.6
265.,
115.1 121.7 120.8 122.4 124.6 128.8 131.2
. . ._ - 46.1 49.9 50.0 50.7 50.9 51.3 51.8
19.0 21. 1 20.8 21.5 21.7 22.4 22.7
50.0 53.2 52.4 53.5 54.9 58.3 56.9
132.
52.,
?,3 (
221.6 241.6 238.7 244.5 249.8 255.2 259.9
265. ^
77.4 84.0 83.0 84.7 87.0 89.0 90.8
31.2 33.9 33.3 34.5 34.8 35.2 35.2
15.6 16.7 16.5 16.8 17.1 17.7 17.9
97.5 107.1 105.9 108.5 110.9 113.3 115 4
92.
36.
18.
Durable goods
Nondurable goods
Food and beverages
Clothing and shoes.. . .
Gasoline and oil
Other .
Services
Housing
Household operation
Transportation
Other
58.
117.
Table 12. — Foreign Transactions in the National Income
Product Accounts (4
1)
v
*'
and
63.7
62.8
64.3
63.5
Receipts from foreigners
Exports of goods and services
Capital grants received by the United
States
50.6
50.6
55.5
55.5
57.2
57.2
58.3
58.3
58.8
58.8
62.0
61.1
.9
.9
.9
Payments to foreigners
Imports of goods and services
Transfers to foreigners
Personal
Government..
Net foreign investment
50.6
48.1
2.8
.7
2.1
-.3
55.5 57.2
53.6 55.9
3.2
2.8
.8
.8
2.5
2.1
-.9 -2.0
58.3
55.6
2.8
.9
1.9
-.1
58.8
56.2
2.9
.8
2.1
-.3
62.0
57.6
2.8
.9
1.9
1.6
63.7
58.7
3.0
1.0
1.9
2.0
64.3
58.8
2.9
1.0
1.9
2.7
SURVEY OF CURRENT BUSINESS
October 1970
1969
1968
1969
II
III
11
IV
I
m>
II
1968
1969
II
Table 13.—Federal Government Receipts and Expenditures (3.1, 3.2)
Federal Government expenditures
175.4 200.6 202.5 200.8 202.0 195.9 196.7
79.3
37 5
18.0
40.7
95.9
39 2
19. 1
46.5
97.3
40 2
19.0
46.0
95.6
38 6
19.5
47.0
96.9
38 1
19.3
47.7
93.4
34.8
19.3
48.4
181.6 191.3 189.1 192.5 195.9 197.7
93.5
34.9
19.4
48.9
20.0
49.7
210.9 207.7
99.5 101.3
78.0 78.8
21.5 22 6
99.8 102.5 102.1 102.3
77.9 79.8 78.8 79.3
21.9 22 7 23 3 23.0
99.7
76.8
22.9
99.0
75.2
23.8
Transfer payments
To persons
To foreigners (net)
47.8
45.7
52.2
49.8
64.4
62.4
62.9
60.9
Grants-in-aid to State and local governments
Net interest paid
Subsidies less current surplus of government enterprises
Less: Wage accruals less disbursements
52 1
50.0
2.1
2.5
52 2
50.3
53.3
51.2
1.9
2.1
II
III »
55.3
53.4
1.9
2.0
122.31 128.11 127.22 128.97 130.52 132.57 133. 98 135. 43
1.9
Personal consumption expenditures
125.6
127.2
128.5 129.6
120.4 126.2 125.4 127.1 128.0 129.6 131.0 133.5
Fixed investment
Nonresidential-.
117.5 122.8 121.6 123.9 125.1 126.8 128.2 130.3
Structures
130.3 141.1 139.5 143.3 144.7 146.4 150.0 155.1
Producers' durable equipment _ . 111.9 115.1 114.4 115.6 116.8 118.4 119.2 120.4
129.7 137.7 137.4 138.9 139.3 140.6 142.4 146.1
129.8 137.8 137.5 139.0 139.4 140.7 142.5 146.2
125.9 132.3 131.1 133.6 135.1 136.7 137.9 141.8
Residential structures
Nonfarm
Farm
19.6
12.9
20 0
13.2
21 8
13.9
23.0
14.3
25. 1
14.3
25.1
14.8
Change in business inventories
4.1
4.6
4.6
4.6
4.9
5.3
5.3
5.7
Net exports of goods and services
.0
0
.0
0
.0
2 5 —2. 1
—.4
9.3
13.4
8.3
-14.2
124.2
Gross private domestic investment
20 2
13.1
6.1 -1.7
118.5 123.5 122.8
103.3 106.0 105.7 106.4 107.0 107.8 108.2 109.0
117.1 122.2 121.5 122.9 124.5 125.9 127.1 127.5
127.1 133.1 132.3 133.8 135.5 137.3 139.3 141.1
Durable goods
Nondurable goods
Services
18.4
11.8
Surplus or deficit (-), national
-6.2
income and product accounts
I
Table 16.—Implicit Price Deflators for Gross National Product (8.1)
Gross national product -
89.4
Purchases of goods and services
National defense
...
Other
2.1
IV
Index numbers, 1958=100
Billions of dollars
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax
accruals
Contributions for social insurance. - -
III
Seasonally adjusted
Seasonally adjusted at annual rates
Federal Government receipts
1970
1969
1970
Exports
Imports
110.9 114.6 112.7 114.6 117.7 117.5 118.8 118.8
107.5 111.1 109.5 111.2 114.5 114.9 116.2 116.2
.
Government purchases of goods and
135.0 143.5
services
141.9
145.4
147.5
151.5 154.6
156.2
126.4 133.9 131.7 136.3 138.4 143.8 147.0 147.3
144.7 153.7 152.6 154.9 156.7 158.9 161.5 164.2
Federal
State and local
Table 14.—State and Local Government Receipts and Expenditures
(3.3, 3.4)
State and local government receipts
106.3 118.3
Personal tax and nontax receipts
18.3
Corporate profits tax accruals
3. 1
Indirect business tax and nontax
accruals
60 1
Contributions for social insurance. _ . 6.4
Federal grants-in-aid
18.4
116.3 119.6 123.9 127.3 132.0
21.4
3.5
20.8
3.6
21.9
3.4
23.0
3.3
23.6
3.2
24.2
3.2
24.7
66. 1
7.1
20.2
65.3
7.0
19.6
67.1
7.2
20.0
68.4
7.4
21.8
70.0
7.5
23.0
71.7
7.7
25.1
73.0
7.9
25.1
State and local government expenditures
107.4 118.9
117.9 119.8 122.9 126.8 128.7 132.9
Purchases of goods and services
100.7 110.8 110.1 111.6 114.2 117.4 118.7 122.4
Transfer payments to persons
10.0 11.5 11.2 11.7 12.2 12.9 13.5 14. 1
.l
.1
Net interest paid . .
.2
.2
.2
.2
.3
.2
Less: Current surplus of government
enterprises
. .
3.4
3.6
3.6
3.6
3.7
3.7
3.8
3.8
Surplus or deficit (—), national
income and product accounts
-1.1
-.6 -1.5
-.3
1.0
Table 17.—Implicit Price Deflators for Gross National Product by
Major Type of Product (8.2)
Gross national product
Final sales
.
122.31 128.11 127.22 128.97 130.52 132.57 133.98 135.43
122.4 128.2 127.3 129.2 130.6 132.6 134.1 135.5
Goods output
Durable goods
Nondurable goods
113.1 117.3 116.8 117.8 119.2 120.6 121.4
108.6 111.9 111.4 112.3 113 2 114.2 114.6
116.4 121.4 120.9 122.1 123.7 125.2 126.3
Services
Structures
133.5 140.8 139.3 142.0 143.9 146.5 148.7
131.3 140.8 139.9 142.7 143.7 145.7 148.5
Addendum :
Gross auto product
.
102.4 104.7 104.4 105.0 105.6 106.6 106.5 107.9
3.4
.5
Table 18.—Implicit Price Deflators for Gross National Product by
Sector (8.4)
Table 15.—Sources and Uses of Gross Saving (5.1)
Gross national product
Gross private saving
135.9 135.0 130.7 141.1 137.1 140.5
149.4
Private
Personal saving
40.4 37.6 33.3 42 0 41 1 44 8 51.5 52.5
Undistributed corporate profits
24.9 23.9 25.2 22.9 21.9 19.4 18.8
Corporate inventory valuation adjustment
—3.3 — 5.4 —6 0 —3 2 —6 5 — 5 8 —4 5 —5 8
Corporate capital consumption
allowances
46.5 49.8 49.3 50.1 51 0 52 0 53 0 54 0
Noncorporate capital consumption
27 5 29 1 28 9 29 3 29 7 30 2 30 6 31 1
allowances
Wage accruals less disbursements
.0
.0
.0
.0
.0
.0
.0
.0
Government surplus or deficit (— ) ,
national income and product
accounts
-7.3
Federal
—6 2
State and local . . .
— 1. 1
8.7
93
11.8
13 4
—.6 — 1.5
8.0
83
— 3
123.1 122.5 123.8 125.2 126.8 138.0 129.4
123.4 122.6 124.0 125.3 126.8 128.2 129.7
116.9 118.4 117.6 121.6 127.5 124.0 121.9
171. 9
j
.
159.1 170.8 167.6 173.6 176.5 182.9185.9 187.8
Percent at annual rate
Percent
.9
.9
.9
Gross investment
126.2 138.9 137.3 143.6 139 9 134 8 136 3 139 4
Gross private domestic in vestment .. 126.5 139.8 139.3 143.8 140.2 133.2 134.3 136.8
Net foreign investment . . .
2.0
2 7
-.3 -.9 -2.0 -.1
1.6
ppreliminary.
General government
118.92 124.22 123.55 124.90 126.32 127.96 129.24 130.66
118.0
118.4
107.3
159. 1
Table 19.—Gross National Product: Change From Preceding Period
7.1 -1.2 -10.9
6 1 — 1 7 — 14 2
5 34
10
Capital grants received by the United
States
Statistical discrepancy.
Business
Nonfarm
Farm
Households and institutions
122.31 128.11 127.22 128.97 130.52 132.57 133.98 135.43
-2.4 -4.7
-5.3 -5.5
-4.3
-5.4
-3.1
Gross national product :
Current dollars
Constant dollars
Implicit price deflator
9.0
4.8
4.0
7.7
2.8
4.7
7.3
2.2
5.0
8.4
2.7
5.6
3.9
3.3
-.9 -2.9
6.4
4.9
4.9
.6
4.3
6.0
1.4
4.4
Gross private product:
Current dollars
Constant dollars
Implicit price deflator
8.6
4.9
3.6
7.5
2.9
4.5
7.2
2.1
4.9
3.6
2.1
7.1
2.6 — 1.0 -3.0
4.4
4.6
5.3
4.7
.7
4.1
6.2
1.6
4.5
SURVEY OF CURRENT BUSINESS
12
personal income structures varies; consequently, the relative importance of
changes in transfers and Federal payrolls explain some of the regional and
State variation in total income growth
in the second quarter (See chart 7.)
In the income structure of New
England and the Great Lakes areas,
Federal payrolls have relatively little
weight and the Federal pay raise
contributed only moderately to overall
income gains. In the Plains States,
where transfer payments carry a somewhat greater weight in personal income
than they do nationally, a particularly
sharp advance in transfers offset some
of the weakness in the other income
components. The flow of total income
was bolstered by the increase in transfers more in the Plains than in any
other region.
Among the States there are wider
CHART 7
Regional Changes in Personal Income
Transfer payments and Federal Government payrolls
affected personal income significantly in all regions
Percent Change *
From First to Second Quarter 1970
-4
-2
0
2
4
i
T
UNITED STATES
variations in the importance of transIn each of the regions and in most
fers and Federal payrolls than among of the States where there was a large
regions, and changes in these income and important second quarter change
components explain much of the State in agricultural earnings, there had been
differences in total income change. The a change in the opposite direction in
advance in Federal wage payments was the first quarter.
very important in Alaska, Maryland,
In New England and the Far West
Virginia, District of Columbia, Hawaii, there were second quarter declines in
Utah, Rhode Island, Arizona, and Mis- manufacturing payrolls; advances were
sissippi where there are many Federal recorded in the Southeast and the
installations. The rise in transfers had Rocky Mountain regions. In the first
a substantial impact in Florida and quarter manufacturing payrolls inCalifornia, where there is a high con- creased moderately in New England
centration of retired persons, and in
Rhode Island, District of Columbia,
Change in Income,
Arkansas, and Massachusetts. As a Table 2.—Regional
Selected Components
result, the second quarter income inPercent change
crease in all of these States was well
above the national average.
IV-1969— 1-1970—
1-1970
11-1970
On the other hand, both transfers
and Federal payrolls make up a belo\v- United States:
2.4
Total personal income
1.6
average share of total income in Con1.3
Total exc. transfers
_.
1.4
1.7
Total exc. Federal
1.9
necticut, Illinois, and Indiana. Addi.7
Total exc. transfers and Federal. __
1.4
2.5
Total exc. farm
_. _
1.6
tionally, Federal payrolls carry little
.8
Total exc. Fed., transfers, farm__-_
1.4
weight in Minnesota, Vermont, Iowa, Rocky Mountain :
1.2
4.7
T otal personal income
and Wisconsin. Accordingly, the total
1.0
3.8
Total exc. transfers - _
4.0
1.4
Total exc Federal
income advance in each of these States
2.9
1.1
Total exc. transfers and Federal
3.5
1.7
was less than the national average.
Total exc. farm
- - -1.4
Total exc. Fed., transfers, farm
1.7
First to second quarter percent changes
Southwest:
1.9
3.8
in personal income for each of the
Total personal income
2.9
1.7
Total exc transfers
3.3
States are shown in the quarterly
2.1
Total exc Federal
- 2.3
1.9
Total exc. transfers and Federal- _ _
personal income table.
2.4
2.8
Total exc farm
__ _
Total
Total Excl. Transfers and
Federal Goverment Payrolls
Rocky Mountain
* Seasonally adjusted
U.S. Department of Commerce, Office of Business Economics
<
October 1970
Farming and manufacturing
Apart from the increase in social
security payments and the Federal pay
raise, developments in agricultural earnings and in manufacturing explain most
of the residual second quarter regional
and State differences in personal income gains. Farm earnings spurted in
the Rocky Mountain and Southwest
regions and fell back sharply in the
Plains. In each of these areas the impact was reflected noticeably in the
change in total personal income. Among
the States, large increases in farm
earnings were important in the above
average income gains in Colorado, Arizona, Mississippi, and Arkansas. On
the other hand, each of the seven
States which showed income dips in
the second quarter registered large declines in agricultural income. However,
it should be noted that changes in
farm income have been erratic so far
this year.
Total exc. Fed., transfers, farm
2.6
1.0
Southeast:
Total personal income
_ _ _ __
Total exc transfers _ _ - Total exc Federal
Total exc. transfers and Federal- _ _
Total exc farm
Total exc. Fed., transfers, farm
1.6
1.4
1.8
1.6
1.2
1.0
3.4
2.4
2.8
1.6
3.3
1.3
Total personal income
T otal exc transfers
Total exc Federal
Total exc. transfers and Federal- _.
Total exc farm
- Total exc. Fed., transfers, farm
1.5
1.1
1.4
1.1
1.6
1.2
3.1
1.9
2.6
1.3
2.9
1.1
Mideast:
Total personal income
Total exc transfers
-Total exc Federal
Total exc. transfers and Federal. __
T otal exc farm
- - Total exc. Fed., transfers, farm
1.5
1.2
1.6
1.3
1.5
1.3
2.3
1.2
1.9
.7
2.4
.8
New England:
Total personal income
Total exc transfers
-Total exc Federal -- Total exc. transfers and Federal- _ _
Total exc farm
Total exc. Fed., transfers, fann____
4.0
3.9
3.7
3.7
4.0
3.7
2.0
.8
1.8
.6
2.1
.6
Great Lakes:
Total personal income
Total exc transfers
Total exc Federal
-- - -- Total exc. transfers and Federal- ._
Total exc farm
-- Total exc. Fed., transfers, farm..--
1.1
.8
1.0
.7
1.3
.9
1.6
.5
1.3
.2
1.9
.5
Plains:
Total personal income
Total exc transfers
Total exc Federal
Total exc. transfers and Federal- -Total exc farm
- -Total exc. Fed., transfers, farm...
1.8
1.5
1.8
1.6
1.3
1.0
-.6
-2.1
-1.1
-2.7
1.7
-.3
Far West:
SUEVEY OF CUEKENT BUSINESS
October 1970
but declined in the Far West. Within
the latter region the decline in manufacturing since the first of the year
has been very sharp, particularly in
the State of Washington but also in
Oregon and California. These States
13
have been adversely affected by the
severe cutbacks in the aerospace
industry and weakness in lumbering.
Table S.^Total Personal Income, by States and Regions
[Millions of dollars, seasonally adjusted at annual rates]
1967
State and region
I
1968
1970
1969
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
Percent
change
I-II 1970
618, 361
630, 882
642, 225
659, 809
676, 695
693, 176
708, 086
721, 552
736, 852
753, 503
766, 006
778,447
797,082
2.4
.
38, 924
39, 470
40, 322
41, 003
42, 007
43, 115
43, 971
45, 062
45, 729
46, 754
47, 564
47, 642
49, 530
50, 506
2.0
_
2,496
2,036
1,152
2,530
2,070
1,160
2,587
2,110
1,193
2,623
2,152
1,219
2,694
2,226
1,260
2,732
2,261
1,297
2,784
2,320
1,327
2,860
2,393
1,356
2,903
2,424
1,374
2,969
2,457
1,404
3,002
2,504
1,442
3,073
2,570
1,483
3,175
2,608
1,529
3,240
2,654
1,545
2.1
1.7
1.1
_ . ...
. . .
18, 895
2,917
11,428
19, 200
2,936
11,574
19, 504
3,036
11, 892
19, 828
3,099
12, 082
20, 490
3,179
12, 158
20, 953
3,266
12, 606
21, 283
3,281
12, 976
21,839
3,388
13, 226
22, 212
3,414
13, 402
22, 784
3,507
13, 633
23, 177
3,521
13, 918
22,716
3,618
14, 182
23, 953
3,626
14, 639
24, 755
3,749
14, 563
3.3
3.4
—.5
...
145, 972
147, 917
150, 346
153, 284
157, 519
161, 159
164, 570
168, 163
170, 551
174, 297
178, 013
181,936
184, 666
188, 997
2.3
67, 285
24, 990
36, 468
68, 153
25, 491
36, 632
69, 424
25, 869
37, 202
70, 661
26,419
37, 844
72, 937
27, 098
38, 783
74, 415
27, 756
39, 471
76, 025
28, 322
40, 299
77, 831
29, 052
40, 943
78, 959
29, 103
42, 071
80, 599
29, 962
42,711
82, 231
30, 596
43, 551
83, 746
31, 587
44, 396
85, 549
31, 738
45, 166
87, 278
32, 513
45, 846
2.0
2.4
1.5
1,796
12, 203
3,230
1,850
12,447
3,344
1,884
12, 650
3,317
1,926
13, 074
3,360
1,965
13, 359
3,377
2,038
13, 972
3,507
2,081
14, 252
3,591
2,108
14, 609
3,620
2,144
14, 620
3,654
2,166
15, 160
3, 699
2,239
15, 591
3,805
2,321
15,972
3,914
2,274
15, 983
3,956
2,346
16, 837
4,177
3.2
5.3
5.6
129, 932
130, 839
134,112
135, 287
139, 833
142, 701
145, 552
149,381
152 749
155, 080
158, 093
161, 032
162,819
165, 391
1.6
28, 466
33, 153
15, 714
28, 856
33, 077
15, 687
29, 806
33, 940
15, 986
29, 441
34, 614
16,257
31, 186
35, 735
16, 786
31, 776
36, 661
17, 064
32, 550
37, 253
17, 391
33, 376
38, 063
17, 950
33 992
39 088
18, 337
34, 623
39, 753
18, 652
35, 387
40, 515
19, 048
36, 037
41,224
19, 436
35, 372
42, 093
19, 391
36, 629
42, 607
19,710
3. 6
1.2
1.6
39, 779
12, 820
40, 329
12, 890
41, 144
13, 236
41, 544
13, 431
42, 465
13, 661
43, 172
14, 028
43, 980
14, 378
45, 230
14, 762
46, 369
14, 963
46, 857
15, 195
47, 580
15, 563
48, 554
15, 781
49, 836
16, 127
50, 057
16, 388
.4
1.6
46, 901
47, 641
48, 772
49, 229
50, 563
51, 327
52, 857
53,781
54 780
55,381
57, 428
58,710
59, 749
59, 384
-.6
10, 870
8,182
13, 618
11,012
8,379
13, 726
11, 332
8,827
13, 922
11, 501
8,702
13, 988
11, 736
8,915
14, 581
12,019
9,085
14 850
12t482
9,416
15,211
12 794
9,077
15 553
13 111
9,444
15 764
13, 118
9,760
15, 736
13, 584
10, 199
16 356
13, 979
10, 076
16 483
14, 179
10, 283
17 024
14, 109
10, 402
16, 922
-.5
1.2
-.6
1,564
1,651
4,292
6,724
1,646
1,702
4,444
6,732
1,592
1,750
4,406
6,943
1,576
1,818
4,512
7,132
1,609
1,868
4,528
7,326
1,556
1,870
4,636
7,311
1,624
1 853
4,589
7,682
1,841
1 910
4 844
7,762
1 766
1 974
5 010
7 711
1,836
1,925
5,182
7,824
1,881
1,963
5,174
8,271
1,926
2 116
5,553
8,577
1,942
2 206
5,584
8,531
1,855
2,087
5,651
8,358
-4.4
-5.4
1.2
-2.0
103,819
105,097
106 799
110 051
112 583
116 483
119 341
121 545
124 908
127 672
131 158
132 221
134 366
138 993
34
12, 285
4, 134
7,674
12 501
4 169
7,578
12 762
4 230
7 784
13 412
4 280
7 944
13 540
4 286
8 122
13 985
4 416
8 424
14 406
4 476
8 590
14 685
4 527
8 776
14 809
4 576
8 956
15 261
4 718
9 134
15 806
4 763
9 340
15 888
4 884
9 378
16 103
4 915
9 460
16 840
5 040
9 911
4 6
2 5
4 8
9,096
11, 986
5,643
9 185
12, 126
5,640
9 314
12 272
5 780
9 554
12 973
5 967
9 735
13 086
6 139
10 080
13 570
6,361
10 428
13 902
6 472
10 611
13 985
6 554
10 889
14 563
6 786
11 114
14 933
6 950
11 273
15 428
7 151
11 480
15 196
7 184
11 733
15 838
7 361
12 050
16 300
7,592
2 7
2 9
3. 1
Georgia
Florida
Alabama .
11 339
16 800
7,510
11 419
17 219
7 579
11 630
17 730
7 684
11 826
18 082
7 825
12 186
18 870
8 118
12 638
19 581
8 230
12 914
20 252
8 412
13 385
20 578
8 553
13 772
21 367
8*887
14 107
21 958
9 000
14 402
22 962
9 227
14 731
93 296
9 350
14 710
23 225
9 675
15 215
24 174
9 757
34
4 i
9
Mississippi
Louisiana _
Arkansas
4 403
8 846
4 103
4 487
8 946
4 248
4 358
8 988
4 267
4 474
9 389
4 325
4 692
9 553
4' 256
4 908
9 712
4 578
4 890
9 907
4 692
4 994
10 063
4 834
5 291
lo' 142
4 870
5 244
10 285*
4 968
5 219
10 562
5 025
5 182
10 664
4 988
5 465
10 838
5 043
5 745
11 053
5 316
51
2 0
54
Southwest . _ _ _
42 228
43 184
44 115
44 890
45 830
47 320
49 288
50 123
53 876
54 401
55 421
57 539
38
6 488
28 943
6 517
29 678
6 707
30 366
6 946
30 818
6 951
3l' 590
6 967
39 754
7 428
33 972
7 456
34' 668
50 871
7 413
35 163
52 337
Oklahoma .
Texas
7 701
36 225
8 082
36 997
8 104
37 448
8 226
38 164
8 305
39 756
10
4 2
2 419
4 378
2 479
4 510
2 450
4 592
2 506
4 620
2 585
4 704
2 615
4 984
2 698
5 190
2 700
5 299
2 855
5 440
2 817
5 594
2 936
5* 861
9 910
5 939
3 047
5 984
3 133
6 345
2 8
6 0
United States
__ 610, 485
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
Minnesota
Iowa
Missouri
North Dakota
South Dakota.
Nebraska
Kansas
.
Southeast
Virginia
West Virginia
Kentucky .
Tennessee
North Carolina
South Carolina.-
___ - _
New Mexico
Arizona
Rocky Mountain..
_ __
13,180
13,334
13 430
13 811
13 986
14 451
14 761
15 362
15 607
15 985
16 168
16 507
16 707
17 485
4 7
Montana. _ _
Idaho
Wyoming
1 907
1 733
908
1 938
1 737
913
1 864
1 840
902
1 950
1 870
997
1 960
1 795
963
2 010
1 888
970
1 999
1 903
1 010
2 120
I 958
1 050
2 102
2 047
1 036
2 085
2 150
1 067
2 224
2 123
1 075
2 278
2 162
1 113
2 251
2 173
1 163
2 297
2 282
1 133
2 0
50
2 5
Colorado
Utah
5 988
2 644
6 090
2 656
6 142
2 682
6 300
2 694
6 546
2 722
6 723
2 860
6 910
2 939
7 235
2 999
7 389
3 033
7 585
3' 098
7 590
3' 156
7 714
3 240
7 845
3 275
8 373
3 400
6 7
38
Far West
86 204
87 493
89 504
91 084
93 851
96 362
98 910
100 694
102 249
105 141
106 828
108 976
110 563
113 971
31
Washington _
Oregon _ _ -
10 501
5 947
10 761
6 050
11 052
6 185
11 373
6 336
11 720
6 435
12 002
6 580
12 232
6 730
12 480
6 907
12 666
6 974
13 050
7 194
13 206
7*392
13 448
7 484
13 524
7 521
13 771
7 709
18
2 5
Nevada
California
1 526
68 230
1 556
69 126
1 616
70 651
1 638
71 737
1 706
73 990
1 738
76 042
1 813
78 135
1 875
79 432
1 896
80 713
1 995
82 902
2 084
84* 146
2 174
85 870
2 144
87 374
2 233
90 258
4 2
33
998
2,327
1,012
2,374
1 028
2 454
1 066
2 520
1 096
2 541
1 106
2 671
1 126
2 800
1 148
2 827
1 199
2 909
1 241
2 964
1 262
3 113
1 329
3 252
1 372
3 254
1 425
3 391
38
4.2
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. 1967-69 estimates have been
revised.
Source: U.S. Department of Commerce, Office of Business Economics.
By ALLAN H. YOUNG AND CLAIBORNE M. BALL
Industrial Impacts oi Residential Construction
and Mobile Home Production
an apartment in each of three types of
multi-unit structures, and a mobile
home. The comparisons, which are
based on OBE's input-output study for
1963, pinpoint the industries whose
sales are strongly affected by residential
construction and mobile home production. Sales of some industries are found
to be strongly affected by each type of
housing, while sales of other industries
are affected by only one or two types.
A unique feature of input-output analysis is that it takes into account not
only the effect that an industry has on
NPUT-OUTPUT analysis is a tool its direct suppliers, but also on those
for analyzing the industrial structure of industries that provide inputs to the
the economy by tracing the relationship suppliers.1
The industrial requirements described
between the output of each industry and
the inputs required by that industry in this article reflect the technology and
from other industries. This article illus- price structure prevailing in 1963. It is
trates input-output analysis by com- unlikely that technology and relative
paring the industrial requirements for prices have changed enough since 1963
producing several different types of to destroy the usefulness of these data.
dwelling units: a single-family house, With regard to the future, these figures
This article analyzes the materials and
services required for producing singlefamily houses, multi-unit structures,
and mobile homes. The production requirements are based on OBE's recently
completed input-output tables for 1963.
To the extent that the Nation continues
to meet its housing needs with conventional construction and mobile home
production, these requirements suggest
the industrial impacts that can be
expected in the 1970's.
i
suggest the industrial impacts that can
be expected if the Nation's housing
needs in the 1970's are met by conventional construction or mobile home
production. However, to the extent
that future housing needs are met with
types of units not included in this
article, such as factory-built modules,
1. The 1963 input-output study is described in "Input
Output Structure of the U.S. Economy: 1963" in the No.
vember 1969 issue of the SURVEY OF CURRENT BUSINESS
That article presented the 1963 input-output tables aggregated to 85 industries. More detailed tables showing 367
industries are contained in Input-Output Structure of the
U.S. Economy: 1963, Volume 1, Transactions Data for Detailed
Industries; Volume 2, Direct Requirements for Detailed Industries; and Volume 3, Total Requirements for Detailed
Industries (available for $1.75 each from the Government
Printing Office). Additional detail for 32 types of new construction, including the residential types shown in this
article, and 17 types of maintenance and repair construction,
and for about 70 manufacturing industries is contained in a
transactions table for 478 industries that is available on
magnetic tape. Inquiries about purchase of the tapes should
be directed to OBE.
The tables in this article show only the industries most
affected in terms of their dollar sales by the demands created
by constructing dwelling units. Listings of the impacts of
residential housing on all 367 industries in the input-output
table may be obtained on request.
Table 1.—Direct Requirements Per Dwelling Unit in 1963
[Dollars]
Single-family house
Two-
Walk-up apartment
to four-unit structure
A. Materials
1. Millwork
2. Ready mixed concrete
3. Sawmills & planing mills
4. Prefabricated wood structures
5. Veneer & plywood6. Metal doors, sash & trim
7. Blast furnaces & basic steel products
8. Concrete products, n.e.c
9. Forest, greenhouse & nursery products..
10. Heating equipment, except electrical...
11. Allother
6,044
544
509
485
317
304
268
221
209
185
178
2,824
A. Materials.
1. Sawmills & planing mills
2. Ready mixed concrete
3. Veneer & plywood
4. Metal doors, sash & trim
5. Millwork
6. Blast furnaces & basic steel products
7. Wood household furniture
8. Heating equipment, except electrical
9. Concrete block & brick
10. Forest, greenhouse & nursery products
11. Allother
B. Services...
1. Wholesale trade
2. Retail trade
3. Miscellaneous professional services..
4. Real estate
5. Railroads & related services
6. Allother...
3,359
981
676
462
298
259
683
B. Services
2,327
1. Wholesale trade
740
2. Retail trade
511
3. Miscellaneous professional services
382
4. Railroads & related services
208
5. Motor freight transportation & warehousing.
140
6. Allother
346
5,685
C. Value added
3,871
C. Valueadded
3,898
D. Total (A+B+C).
9,998
D. Total (A+B+C)
9,998
C. Value added
D. Total (A+B+C).
14
15,088
3,800
483
318
203
181
165
150
135
121
99
97
1,848
Materials1. Ready mixed concrete
2. Metal doors, sash & trim
3. Sawmills & planing mills
4. Sheet metal work
5. Millwork
6. Blast frunaces & basic steel products...
7. Forest, greenhouse & nursery products 8. Architectural metal work
9. Gypsum products
10. Heating equipment, ecxept electrical...
11. Allother
B. Services
1. Wholesale trade
2. Retail trade
3. Miscellaneous professional services.
4. Railroads & related services
5. Motor freight transoportation
6. Allother
4,107
260
255
193
183
181
174
152
136
132
131
2,310
1,993
482
463
390
139
130
389
SURVEY OF CURRENT BUSINESS
October 1970
the data presented here would have to be
supplemented with data on the inputs
to such new processes.
Input-output analysis
Input-output analysis translates the
demand for goods and services by final
users into the requirements placed
directly and indirectly on each industry.
The data required for making this
translation are provided by OBE's 1963
input-output study. The results of the
study are contained in three basic
tables—the transactions table, the direct requirements table, and the total
requirements table.
The transactions table shows the
flows of goods and services among
industries and to the final users on a
basis that is conceptually and statistically consistent with the national income
and product accounts. The direct requirements table relates each of an
industry's inputs to its total output;
it shows the amounts that the industry
requires from each other industry as
direct inputs to produce a dollar of its
output. The total requirements table
shows the amounts required by an
industry both directly and indirectly
from other industries to deliver a dollar
of its output to a final user. The
technical note at the end of this article
describes how these basic tables were
used in estimating the industrial impacts of residential construction and
mobile home production.2
Direct requirements
Table 1 shows the direct requirements in 1963 for producing the average
sized unit of each of five types of dwelling unit. The five types are: a singlefamily house, a unit in a two- to fourunit structure, a unit in a walk-up
structure (three stories or less), a unit
in a high-rise structure (four stories or
more), and a mobile home. The table
shows the total cost of producing each
type of unit and the composition of the
total in terms of the value of purchased
goods and services and value added
(employee compensation, profits, etc.).
The table also shows the 10 industries
with the largest sales of goods for use
in producing the various types of units
and the five industries with the largest
sales of services. The 15 industries
shown for each type of unit account for
well over half of the purchased inputs;
the remainder is supplied by about 120
additional industries for residential
structures and 70 additional industries
for mobile homes.
On average, the cost of producing a
single-family house in 1963 was about
IK to 11A times the cost of producing a
unit in the three types of multi-unit
structures and 3}£ times the cost of
producing a mobile home. The primary
2. The flows of goods and services among industries recorded in the transactions table represent purchases made
on current account. As a result, the direct and total requirements computed from the transactions table also represent
purchases on current account. Requirements for plant and
equipment are excluded from the analysis.
Table 1.—Direct Requirements Per Dwelling Unit in 1963—Continued
[Dollars]
Mobile home
High-rise apartment
Materials
1. Ready mixed concrete
2. Metal doors, sash & trim
3. Sheet metal work
4. Miscellaneous metal work
5. Blast furnaces & basic steel products..
6. Architectural metal work
7. Wiring devices
8. Gypsum products
9. Elevators & moving stairways
10. Pipe, valves & pipe fittings
11. Allother
B. Services
1.
2.
3.
4.
Miscellaneous professional services
Wholesale trade
Retail trade
Motor freight transportation & warehousing
5. Railroads & related services
6. Allother
C. Valueadded
D. Total (A+B+C)
4,885
550
498
293
264
176
153
152
149
145
120
2,385
2,141
471
452
449
157
116
496
4,615
11,641
A. Materials
1. Veneer & plywood..
2. Millwork
3. Motor vehicles & parts
4. Aluminum rolling & drawing
5. Heating equipment, except electrical..
6. Metal doors, sash & trim
7. Sawmills & planing mills
8. Blast fur maces & basic steel products..
9. Electric housewares, fans
10. Coated fabrics not rubberized
11. Allother
B. Services
1.
2.
3.
4.
5.
6.
Retail tradeWholesale trade
Railroads & related services
Motor freight transportation
Business travel entertainment & gifts..
Allother
2,272
268
206
202
194
144
141
112
107
91
78
729
1,148
567
315
56
51
49
110
C. Valueadded
1,123
D. Total (A+B+C)
4,543
15
reason for the cost difference is the
difference in size. Single-family houses
averaged about 1,400 square feet in
1963 compared with 550 square feet
for mobile homes; the scanty evidence
available concerning apartments suggests an average of about 900 square
feet for units in multi-unit structures.
(Data are unavailable for estimating the
average sized unit in each type of
multi-unit structure.) It is important
that these differences in unit size, and
hence in production cost, be recognized
when comparing the amounts of specific
material or service inputs shown for the
various types of unit.
Among the different types of dwelling
units there are marked differences in
the composition of the direct material
inputs. The largest suppliers of goods
to single-family construction are four
wood products industries and the readymixed concrete industry. These are
followed in order of importance by
three metal products industries, a
concrete products industry, and the
green-house and nursery products industry (whose output is used in landscaping). In contrast, there is no wood
products industry among the top 10
suppliers of materials for high-rise
apartments: with the exception of
ready-mixed concrete (which heads the
list) and gypsum products, the largest
suppliers are metal products industries.
The top 10 suppliers to the mobile
home industry include four industries
that are not among the top 10 for any
of the construction types. These are
motor vehicles and parts, aluminum
rolling and drawing, electric housewares
and fans, and coated fabrics. A rather
more suprising finding is that the
two largest direct suppliers are wood
products industries. This reflects the
fact that the structural system of a
mobile home is much like that of a
frame house: the floor joists, studs, and
roof joists are made of wood and
the interior wall panels are usually
plywood or composition board.
There is greater similarity among
the types of units in the industrial
composition of the direct inputs of
the service industries. Wholesale and
retail trade are the largest suppliers
of services to each type of construe-
SURVEY OF CURRENT BUSINESS
16
tion except high-rise apartments, and
also to mobile home production. On
the high-rise list, these two industries
are outranked by miscellaneous professional services, consisting mainly
of architectural services. Other leading
suppliers of services are railroad transportation, which is among the top five
for all types of dwellings, and motor
freight transportation which is among
the top five for all types except singlefamily houses (in which case it is replaced by real estate).
In general, the contributions of
wholesale and retail trade are larger
than the input from any goods producing industry. In the input-output tables
these trade services are measured by
the trade margins—selling expenses
and profits—involved in the distribution of goods. Lumber yards and
building material dealers which are
very large suppliers to construction
are classified as retail establishments.
The inputs of trade, transportation,
and real estate shown in table 1 include
certain items that are shown in the
published input-output tables as being
purchased directly by final demand
rather than as inputs to the construction or mobile home industry. These
items were included among the inputs
in table 1 so as to measure, as nearly
as possible, the total cost of the
dwelling unit to the final purchaser.
The inputs of trade and transportation
to mobile homes have been increased
to include the trade margin on the
sale of the unit to its final purchaser
and the transportation from factory
to site. The real estate input to the
October 1970
construction of single-family units has
been increased to include the commission on the sale of the new home.
It should be noted that neither the
construction nor mobile home inputs
include items such as closing costs,
finance charges, or land costs that are
usually associated with the purchase
of a new dwelling.
two- to four-unit structures. The primary aluminum industry also has no
direct sales but is among the leaders in
total sales generated by mobile home
production, and the aluminum rolling
and drawing industry, with negligible
direct sales, is among the leaders in
total sales generated by high-rise
construction.
The total sales of the blast furnace
Total requirements
and basic steel products industry are
Table 2 shows the total requirements three times as large as direct sales in
for producing each type of unit. Total the case of single-family construction
requirements from an industry include and mobile home production, and five
both its direct sales to construction times as large in the case of high-rise
and mobile home production, already construction. Other industries whose
discussed, and its sales to other in- indirect sales are as large or larger than
dustries that are generated indirectly their direct sales, for one or more of the
by construction or mobile home pro- dwelling unit types, include sawmills
duction. The table identifies the top and planing mills, hydraulic cement,
10 producers of goods and the top five stone and clay mining and quarrying,
service producers. Each industry's and petroleum refining and related
direct sales are shown in table 2 in products.
parentheses following the industry title.
On the other hand, several industries
The difference between an industry's are among the leaders in total sales
direct sales and its total sales represents because of the size of their direct sales.
the sales generated by indirect effects; These industries include millwork,
the unique contribution of input-output ready-mixed concrete, and metal doors,
analysis is that it takes account of sash and trim.
these indirect links that relate inAmong the service industries, industries to the filling of final demands. direct sales outweigh direct sales in the
Among the leading goods producing real estate industry and, in the case of
industries shown in table 2 are several high-rise apartments and mobile homes,
whose indirect sales outweigh their in the transportation industries. The
direct sales to residential construction indirect sales of the real estate industry
or mobile home production. The logging are largely the rental of space to firms
industry has no direct sales at all; that are meeting either direct or inhowever, its sales to wood products direct demands of construction. It
industries put it among the top 10 in should be noted that this input tends
total sales generated by mobile home to be a fixed cost which will not vary
production and by construction of proportionately with the output of
single-family houses and of units in dwelling units.
Table 2.—Total Requirements Per Dwelling Unit in 1963
[Dollars]
Single-family house
Two- to four-unit structure
A. Materials:
1. Sawmills & planing mills (485)
2. Blast furnaces & basic steel products (221).. _
3. Millwork (544)
4. Ready-mixed concrete (509)
5. Veneer & plywood (304)
6. Logging camps & logging contractors (0)
7. Prefabricated wood structures (317)
8. Metal doors, sash & trim (268)
9. Cement, hydraulic (85)
10. Forest, greenhouse & nursery products (185)._
B, Services:
1. Wholesale trade (981)
2. Retail trade (676)
3. Real estate (298)
4. Miscellaneous professional services (462)
5. Railroads & related services (259)
939
658
566
541
497
435
323
277
249
237
1,378
793
685
584
479
A. Materials:
1. Sawmills & planing mills (483)
2. Blast furnaces & basic steel products (150)..
3. Ready-mixed concrete (318)
4. Logging camps & logging contractors (0)
5. Veneer & plywood (203)
6. Metal doors, sash & trim (181)
7. Petroleum refining & related products (38)..
8. Millwork (165)
9. Cement, hydraulic (62)
10. Stone & clay mining & quarrying (34)
709
422
337
312
301
187
183
176
160
143
A. Materials:
1. Blast furnaces & basic steel products (174)._ _
2. Sawmills & planing mills (193)
3. Ready-mixed concrete (260)
4. Metal doors, sash & trim (255)
5. Petroleum refining & related products (62)...
6. Sheet metal work (183) _ . _
7. Millwork (181)
8. Forest, greenhouse & nursery products (152)..
9. Stone & clay mining & quarrying (41)
10. Industrial inorganic & organic chemicals (2)..
597
327
282
270
210
199
188
173
158
153
B. Services:
1. Wholesale trade (740)
2. Retail trade (511)
3. Miscellaneous professional services (382). _.
4. Railroads & related services (208)
5. Real estate (39)
991
586
467
344
B. Services:
1. Wholesale trade (482)
2. Retail trade (463)
;
3. Miscellaneous professional services (390)
4. Real estate (58)
5. Railroads & related services (139)
752
540
473
316
274
NOTE.—Amounts in parentheses represent the value of direct requirements.
Walk-up apartment
October 1970
SUEVEY OF OUEEENT BUSINESS
Industrial markets
Table 3 illustrates how input-output
analysis provides information on the
relationship between final demand and
an industry's sales to its various customer industries. For two selected industries—plastics materials and resins,
and railroads—the table shows the total
sales generated by the production of
each type of dwelling unit and the distribution of the total between the direct
sales to the construction and mobile
home industries and the sales to other
industries. This type of information is
particularly useful in such applications
of input-output analysis as market research by a firm that is only remotely
linked to a final demand, such as housing, but nevertheless interested in determining which markets expand or
contract in line with shifts in that final
demand sector.
To obtain the distribution of an industry's sales among its customers involves two computations which are
briefly described here for the plastics
materials and resins industry. First,
the total requirements placed on each
industry as a result of producing one
dwelling unit are computed. Second, the
direct requirements that each industry
places on the plastic materials industry
in order to meet its total requirements
from construction or mobile homes is
computed. These direct requirements
are the total sales by the plastics materials industry to each of its customers
as a result of the production of one
dwelling unit.
Part A of table 3 shows, for example,
that the total requirement placed on
17
Table 3.—Sales of Two Selected Industries to Their Customers Per Dwelling Unit in 1963
[Dollars]
A. Sales of the plastics materials and resins industry to other industries
Type of unit
Single-family house
Two- to four-unit
structure
Walk-up apartment
High-rise apartment
Mobile home
Total
New
construction
96
0
0
1
4
13
43
9
26
64
60
69
50
0
0
0
0
0
0
0
0
1
1
1
8
2
1
1
3
8
8
9
5
29
22
30
21
7
7
4
(*)
17
21
24
13
Mobile
homes
Coated
fabrics not
rubberized
Veneer
and
plywood
Paints
and allied
products
Miscellaneous
plastic
products
Asbestos
products
All
other
industries
B. Sales of the railroads and related services industry to other industries
Type of unit
Single-family house
Two- to four-unit
structure
Walk-up apartment
High-rise apartment
Mobile home
.
Sawmills Industrial
and planing inorganic,
mills
organic
chemicals
Readymixed
concrete
Blast fur- Primary
aluminaces and
num
basic steel
products
All
other
industries
Total
New
construction
479
259
0
13
3
18
20
2
164
344
274
284
128
208
139
116
0
0
0
0
56
10
4
2
3
2
2
3
1
11
10
19
(*)
13
18
26
10
2
2
4
4
98
99
114
54
Mobile
homes
*Less than $0.50.
the plastics materials and resins industry by the construction of a singlefamily house in 1963 was $96. Almost
one-half of this amount was sold to the
miscellaneous plastics products industry. Sales to the paint industry and
asbestos products industry also account for substantial parts of the total.
The distribution of the sales of the
railroad industry to its customers are
shown in part B of the table. The distribution of railroad sales differs
noticeably from that for the plastics
materials industry in that the largest
portion of sales are to the construction
and mobile home industries rather
than to intermediate industries. As can
be seen, the construction of a single-
Table 2.—Total Requirements Per Dwelling Unit in 1963—Continued
family house generates total railroad
sales of $479; over one-half of this
amount consists of transportation services sold directly to the construction
industry.
The table pinpoints several markets
in which the impacts vary greatly by
type of dwelling unit—information that
would be particularly useful to a firm in
planning its marketing strategy. For
example, the sales of the plastics
materials and resins industry to the
coated fabrics industry are affected
much more by the production of a
mobile home than by any other type of
unit; sales to the paint and allied
products industry, however, are affected
the most by the construction of a singlefamily house.
[Dollars]
Technical Note
Mobile home
High-rise apartment
A. Materials
1. Blast furnaces & basic steel products (176)...
2. Ready-mixed concrete (550)
3. Metal doors, sash & trim (498)
4. Sheet metal work (293)
5. Miscellaneous metal work (264)
6. Cement, hydraulic (74)
7. Aluminum rolling & drawing (1)
8. Stone & clay mining & quarrying (28)
9. Elevators & moving stairways (145)
10. Petroleum refining & related products (22)..
852
572
527
319
282
229
193
184
180
173
A. Materials
1. Veneer & plywood (268)
2. Motor vehicles & parts (202)
3. Blast furnaces & basic steel products (107)
4. Aluminum rolling & drawing (194)
5. Sawmills & planing mills (112)
6. Millwork (206)
7. Primary aluminum (0)
8. Heating equipment, except electrical (144)
9. Logging camps & contractors (0)
10. Metal doors, sash & trim (141)
355
327
315
267
219
214
161
152
150
146
B. Services
1. Wholesale trade (452)
2. Miscellaneous professional services (471)
3. Retail trade (449)
4. Real estate (74)
5. Motor freight transportation (157)
764
568
538
361
328
B. Services
1. Retail trade (567)
2. Wholesale trade (315)
3. Real estate (25)
4. Railroads & related services (56)
5. Motor freight transportation (51)
604
473
164
128
114
404-263 O - 70 - 3
.
Direct requirements per dollar of output of
each type of residential construction were
derived from the transactions table at the
478-industry level. In that table, each of the
four types of construction covered in this
article is shown as a separate industry (see
footnote 1). As explained in the text, the
direct requirements for a single-family house
were increased to include the real estate
commission.
Direct requirements per dollar of output of
mobile homes were based on those for the
trailer coach industry (1-0 61.06/SIC 3791)
in the direct requirements table at the 367(Continued on page 38)
By R. DAVID BELLI
Sales of Foreign Affiliates of U.S. Firms,
1961-65,1967 and 1968
reached $5.3 billion in 1968, an increase
of 16 percent over 1967.
As foreign demand for manufactured
goods grew in recent years, U.S. firms
responded, in part, by establishing
or expanding manufacturing affiliates
abroad. Recent data on plant and equipOALES of foreign manufacturing affili- ment expenditures by foreign affiliates
ates ot U.S. firms continued their of U.S. firms indicate sustained expanstrong expansion in 1968 with an sion, a tendency encouraged by the
increase of 12 percent to a level of continued growth of foreign economies.t
$59.7 billion. The rise matched the
This article presents the latest availaverage annual increase recorded from able data on sales by foreign manufac1965 to 1967. (Sales data for 1966 are turing affiliates of U.S. firms, classified
currently not available.1) The volume by country (table 1), by industry and
of sales in 1968 was almost double the area (table 2), and by destination (table
level of 1963. Sales of mining affiliates 3). More limited data is also presented
Foreign manufacturing affiliates of
U.S. firms increased sales by 12 percent
in 1968 to $59.7 billion, about the same
annual rate of increase recorded from
1965 to 1967. Sales by mining affiliates
rose 16 percent in 1968 to $5.3 billion.
•••••••••••••I
CHART
Sales of Foreign Manufacturing Affiliates
Billion $
1. For purpose of comparison, the average annual rate of
growth in affiliates' sales from 1965 to 1967 is computed; it
represents the annual rate of growth that would have been
necessary! n 1966 and in 1967 to move from 1965 sales to 1967
sales.
for sales of mining affiliates abroad
(table 4).
Manufacturing
With few exceptions, substantial sales
growth has been registered by U.S.
manufacturing affiliates in all areas of
the world in recent years. The percent
distribution of sales by major area
changed little from 1965 to 1968. In the
latter year, affiliates in Western Europe
accounted for better than 43 percent of
the total, Canada 31 percent, Latin
American more than 13 percent, and
all other areas about 13 percent.
In Western Europe, sales of foreign
manufacturing affiliates rose 12 percent
to $25.8 billion in 1968, a rate of growth
slightly higher than the 11 percent
average annual increase in the preceding
Total
60 -
Exported to
United States
Table 1.—Sales of Foreign Manufacturing Affiliates, by Selected countries, 1961-65, 1967,
1968
[Million of dollars]
Exported to
Other
Countries
50 -
All areas
40 -
30 -
Sold Locally
20 -
1963
64
65
66
67
68
1964
1965
1967
1968
27 923
31 809
37 438
42 317
53 151
59 67
8 429
9 196
10 199
11 620
13 349
16 585
18 54
Latin American Republics and other Western Hemisphere
Argentina
.
..
Brazil
Mexico
--- -Venezuela
Other
3,597
872
915
835
375
600
3,967
4,250
837
880
1 095 1 100
1 005 1 140
380
455
650
675
7,128
1 267
1 750
2 150
860
1 101
7,96
1 33
2 01
2*46
*95
1 20
10 780 12 120 14 045 16 653 18 685 23 080
5 070 5 290 5 918 6 871 7 521
9 213
4 805 5 770 7*002 8 683 9 gso 12 002
760
850
'990
1 335 1 574
1 912
1 255 1 645 2 003 2 486 2 648
3 410
2 265 2 600 3 130 3 740 4 356
4 982
525
675
1 122 1 272 1 698
879
905 1,060 1 125 1 099 1 314
1 865
25 83
9 60
13 92
2 44
3 91
5 61
1 95
2*31
Europe 7
United Kingdom
European Economic Community
Belgium, Netherlands, and Luxembourg
France
Germany .
.
Italy
Other
Other Africa and Middle East...
Other Asia and Pacific
India
Philippines
Other
N.s.s. Not shown separately.
1963
25 061
U.S. Department of Commerce, Office of Business Economics
18
1962
Canada
Other areas
-Japan
_..
Australia, New Zealand, and South Africa
Australia
New Zealand. . _
.
South Africa
10 -
1961
..
.
4,951
5,526
1 150 1 450
1 020 1 120
1 465 1 574
555
617
761
765
2,255
380
n.s.s.
1 060
n ss
335
2,640
430
n.s.s.
1 350
n ss
380
3 315
515
n.s s.
1 700
n ss
470
4 214
710
2 890
2 090
230
570
4 757
980
3 076
2 235
247
594
n.s s
n.s.s
n ss
160
n ss
n.s s
n.s s.
n ss
n ss
n ss
n ss
180
n ss
64
550
214
230
106
73
628
270
250
108
155
n ss
6 358
1 600
3 733
2 744
234
755
7 32
1 98
4*13
3 09
20
82
176
849
250
345
254
19
1 01
*30
41
30
October 1970
2 years. Strong growth was registered in
the Common Market countries with a
rise of 16 percent to $13.9 billion. Sales
by affiliates in the Benelux countries
expanded at a particularly fast pace.
A considerably slower rise was recorded
by affiliates in the United Kingdom,
with an increase of only 4 percent to
$9.6 billion. However, this slowdown
largely reflected the devaluation of the
British pound in the fall of 1967 which
lowered the dollar value of 1968 sales of
affiliates operating in the United Kingdom. (Calculated in sterling, sales rose
much faster.) Manufacturing affiliates in
all other European countries increased
their sales by a substantial 24 percent in
1968 to $2.3 billion.
Sales of foreign affiliates in Canada
rose 12 percent in 1968 to $18.5 billion.
Growth was particularly strong for
manufacturers of transportation equipment. The U.S.-Canadian automotive
agreement of 1965 has encouraged U.S.
automotive manufacturers to produce
automobiles in Canada for sale in U.S.
markets. In 1968, sales by Canadian
affiliates manufacturing transportation
equipment increased $1.0 billion, and
about 40 percent of their total sales
was exported to the United States.
All other Canadian manufacturing
affiliates registered a sales gain of 8
percent.
Latin American affiliates increased
sales by 12 percent in 1968, somewhat
below the average annual increase of 14
percent in the earlier 2 years. Sales by
affiliates in Brazil, Mexico, and Venezuela have risen substantially since
1965, but the 1968 increase was decidedly slower than the average rise for
the preceding 2 years.
In Asia and Africa, sales of affiliates
rose 15 percent to $7.3 billion, with most
of the increase registered in Australia
and Japan. Growth in Japan has been
particularly strong in recent years, as
sales by affiliates there doubled during
the 3 years ending in 1968.
Industry breakdown
The substantial increase in sales of
foreign affiliates since 1965 has been
spread not only through all areas of the
world, but also through all major
manufacturing industry divisions. Sales
by affiliates in the chemical industry
reached $10.2 billion in 1968, an
SURVEY OF CURRENT BUSINESS
19
increase of 15 percent for that year. slower than the 17 percent average
Manufacturers of primary and fabric- annual rise from 1965 to 1967.
cated metals also registered a 15 percent
gain in 1968. For affiliates in both Destination of sales
industries, the rate of expansion was
There has been a significant increase
very close to the average annual in U.S. imports of goods produced by
increase in the preceding 2 years. U.S.-owned foreign affiliates (chart 8).
Foreign affiliates manufacturing trans- Such imports amounted to $4.7 billion
portation equipment continue to lead
or 8 percent of total affiliates' sales in
those in any other industry in total sales.
In 1968, their sales rose 13 percent to 1968, compared with $1.8 billion and 4
$14.5 billion. Most of the increase was percent of sales in 1965. The Canadian
recorded by Canadian affiliates. Sales automotive agreement has given the
by manufacturers of nonelectrical ma- major impetus to the percentage inchinery (including computers) rose 11 crease. In 1968, exports to the United
percent. This increase was considerably States from Canadian affiliates manuTable 2.—Sales of Foreign Manufacturing Affiliates, by Industry and Area, 1961-65, 1967,
1968
[Millions of dollars]
Primary Machin& fabery exricated
cluding
metals electrical
Electrical
machinery
Transportation
equipment
1 875
2,053
2,433
2,940
3 091
2 897
3,359
3,716
4,592
5 364
2,234
2,671
2,986
3,579
3,992
6,000
6,680
8,050
9,466
10, 745
2,715
2,938
3,340
4,124
4,716
1 978
2 126
4 049
4 666
7 384
8 192
4 752
5,298
12, 850
14, 522
6,011
6,757
1,315
1,295
1,400
1,535
1 690
285
340
355
400
472
940
1,090
1,198
1,330
1 417
760
810
916
764
851
866
1,038
1 182
1,010
1,203
1,450
1,730
2,140
2,483
3,226
1,000
1,100
1,338
1,485
1 502
1 680
1 888
2,123
544
580
1 650
1 810
1 600
1 685
1 373
1 457
4,696
5,661
1 780
1,970
730
750
815
775
867
85
100
130
145
178
690
880
1,060
1 239
1,398
300
302
310
355
350
160
163
215
313
289
122
144
175
219
282
300
360
280
380
414
770
790
760
978
1,172
440
478
505
547
576
7,128
7,966
1,350
1,490
237
301
1,763
1,987
392
415
449
561
382
402
505
591
1,281
1,335
769
884
10, 780
12, 120
14,045
16, 653
18, 685
1,110
1,185
1,190
1,308
1,495
70
80
105
148
166
1,510
1,760
2 070
2, 273 ,
2 761
400
460
420
517
537
690
715
880
1,115
1 166
1,755
2,090
2 185
2,735
3 196
1,050
1,320
1 680
1,968
2 128
3,070
3,280
4,050
4,700
5,045
1,125
1,230
1 465
1,889
2,191
23, 080
25, 835
1,746
1,822
252
319
3 762
4,362
633
665
1 543
1,807
4 373
4,903
2 543
2,881
5, 391
5,907
2,837
3,169
6,871
7,521
613
730
93
102
1 075
1 241
228
219
496
546
1 019
1 121
708
717
1 738
1,798
1,047
9,213
9,604
811
783
127
140
1 380
1,415
276
290
680
746
1 428
1,535
818
885
2,282
2,293
1,411
1,517
8,683
9,850
598
665
54
62
1 038
1 320
214
232
563
555
1 651
1 960
1,066
1,187
2,607
2,849
1,020
12,002
13, 921
779
865
116
160
1,975
2,435
255
275
719
850
2,740
3,090
1,435
1,688
2,743
3,138
1,240
1,420
1,099
1,314
97
100
1
2
160
200
75
36
56
65
65
115
194
224
355
398
96
124
1,865
2,310
156
174
9
19
407
512
102
100
144
211
205
278
290
308
366
476
186
232
2,255
2,640
3,315
4,214
4,757
260
240
275
300
328
35
55
65
90
110
375
465
600
856
85
85
140
182
219
260
315
440
600
704
120
140
160
221
247
710
880
1,032
210
230
265
310
351
1,100
1,305
1,302
200
230
270
350
464
6,358
7,327
450
472
181
234
1,444
1,743
409
466
407
488
1,029
1 202
331
369
1,482
1,619
625
734
Paper
and
allied
products
Rubber
products
Manufacturing
total
Food
products
25, 061
27, 923
31, 809
37, 438
42, 317
3,195
3,310
3,462
3,657
4 015
1,060
1,180
1,342
1,595
1 803
3,890
4,400
5,130
5,903
6 881
1 195
1,332
1,350
1,582
1 710
53 151
59, 676
5 098
5,366
2 172
2 534
8 857
10, 215
Canada :
1961
1962
1963
1964 .
1965
8,429
9,196
10, 199
11, 620
13, 349
,135
,182
,274
,325
1,042
1,212
1 349
870
945
1967
1968
16, 585
18,548
1 552
1 582
3,597
3,967
4,250
4,951
5,526
All areas :
1961
1962
1963
1964
1965
.
-.
1967
1968
.«
Latin American Republics &
other Western Hemisphere :
1961
1962
. .1963
...
1964
1965
1967
1968
-
-
Europe :
1961
1962
1963
1964
1965
1967
1968 - - United Kingdom :
1964
1965
1967
1968
_European Economic Community :
1964
1965
1967 _
1968
Other :
1964
1965
1967
1968
Other areas :
1961
1962
1963 _
1964
1965
1967
1968 .
-
095
Chemicals
Other
products
950
901
892
SUEVEY OF CUKEENT BUSINESS
20
Table 3.—Sales of Foreign Manufacturing Affiliates, by Area, Industry and Destination
1965,1967-68
[Millions of dollars]
Total sales
Exported to United
States
Local sales
Exported to other
countries
1968
1965
1967
1968
1965
1967
1968
53,151 59,676 34,686 41,994 46,465
5,098 5,366 3,482 4,423 4,593
2,172 2,534
944 1,192 1,420
8,857 10, 215 5,799 7,401 8,497
1,978 2,126 1,569 1,801 1,948
4,049 4,666 2,331 2,969 3,437
7,384 8,192 4,158 5,406 6,165
4,752 5,298 3,516 4,186 4,655
12, 850 14, 522 8,975 9,756 10, 402
6,011 6,757 3,912 4,860 5,348
1,789
119
643
171
7
183
167
59
278
162
3,688
187
697
172
29
340
250
62
1,744
207
4,741
211
745
189
30
398
338
90
2,485
255
5,842
414
216
911
134
577
1,039
417
1,492
642
7,469
488
283
1,284
148
740
1,728
504
1,350
944
8,470
562
369
1,529
148
831
1,689
553
1,635
1,154
12,361 13,369
1,432 1,478
641
586
1,754 1,968
523
556
1,032 1,123
1,336 1,408
1,275 1,349
2,892 3,153
1,531 1,693
1,380
33
638
90
6
175
86
30
200
122
2,956
33
692
90
15
228
138
33
1,583
144
3,787
28
739
85
17
275
185
29
2,247
182
1,079
100
182
105
3
333
63
60
163
70
1,268
87
224
44
6
390
126
65
221
105
1,392
76
300
70
7
412
92
79
261
95
Latin Am. Repb. & OWH
5,526 7,128 7,966 5,111
6,458 7,213
Food products
.. .. 867 1,350 1,490
674 1,042 1,130
Paper and allied products. . 178
237
301
279
218
158
Chemicals
1,398 1,763 1,987 1,260 1,560 1,778
Rubber products
350
392
389
407
415
348
Primary & fab. metals _ _ __
289
449
439
561
277
548
Machinery, excl elec
282
382
362
402
323
266
Electrical machinery
414
505
591
550
405
478
Transportation equip
1,172 1,281 1,335 1,164 1,265 1,314
Other products . .. ..
576
769
744
884
559
84*5
101
46
5
34
161
93
4
40
(*)
(*)
212
122
5
47
2
314
147
15
104
2
12
14
8
5
7
509
215
15
163
3
10
55
24
11
13
541
238
17
162
6
13
32
38
13
22
Europe
18,685 23,080 25,835 14,264
European EC. Community 9,850 12,002 13, 921 7,517
Food products
_.
665
779
592
865
Paper & allied prod
62
116
160
57
Chemicals
1,320 1,975 2,435
910
Rubber products
_.
232
255
150
275
Primary & fab. metals. _
555
719
850
463
Machinery, excl. elec... 1,960 2,740 3,090 1,366
Electrical mach
1,187 1,435 1,688 1,032
Transportation equip. .. 2,849 2,743 3,138 2,157
Other products __ _ . 1,020 1,240 1,420
790
231
100
4
549 4,190
305 2,233
69
8
5
1
27
398
82
2
91
2
557
72
152
27
659
146
220
20
5,278
2,953
86
21
573
93
122
930
251
566
311
6,091
3,574
134
25
786
83
136
960
267
748
435
1,957
38
9
245
34
135
377
174
616
329
2,325
51
13
344
32
195
539
140
518
493
2,517
70
20
374
37
226
523
138
566
563
259
60
5
59
13
6
28
23
49
16
414
49
10
160
14
23
78
24
34
22
446
44
7
137
15
44
82
31
47
39
1965
1967
All areas
42,317
Food products.- _
. 4,015
Paper and allied products. _ 1,803
Chemicals
6,881
Rubber products
1,710
Primary & fab . metals
3,091
Machinery, excl elec
5,364
3,992
Electrical machinery
Transportation equip. . _-. 10, 745
Other products
4,716
1968
1967
1965
13,349 16,585 18,548 10,890
Canada
Food products
1,325 1,552 1,582 1,192
Paper and allied products. . 1,349 1,502 1,680
529
1,690 1,888 2,123 1,495
Chemicals
Rubber Products
. . 472
544
580
463
Primary & fab. metals
. 1,417 1,650 1,810
909
1,182 1,600 1,685 1,033
Machinery excl elec
Electrical machinery
1,203 1,373 1,457 1,113
Transportation equip
3,226 4,696 5,661 2,863
Other products
1,485 1,780 1,970 1,293
17,408 19,195
8,858 10,042
723
688
134
94
1,385 1,622
162
190
712
596
1,754 2,058
1,181 1,394
2,094 2,244
904
965
2
1
3
10
12
(*)
(>)
3
5
12
394
191
5
1
17
(<)
s
3
8
17
37
3
33
10
!
56
3
83
25
9,153
874
139
1,541
349
704
1,230
1,039
2,119
1,158
131
7
203
13
244
13
6
1
7
35
19
42
14
8
13
13
48
13
73
22
12
4
27
60
16
84
28
Other areas.
_
4,757 6,358 7,327 4,421 5,767 6,688
Food products. _ __
450
328
472
239
388
358
Paper and allied prod
110
227
181
234
105
171
Chemicals
1,032 1,444 1,743
944 1,267 1,588
Rubber products
409
351
446
394
466
338
Primary & fab metals
350
219
407
213
286
488
Machinery, excl. electrical. _
704 1,029 1,202
669
947 1,107
Electrical machinery
323
247
331
297
369
218
Tranpsortation equip
1,302 1,482 1,619 1,253 1,448 1,572
Other products
_ _ ... 464
442
687
625
599
734
77
29
177
43
193
40
29
(*)
7
6
17
1
98
4
10
18
5
94
13
15
6
4
8
Other, including U.K
8,835
Food products
830
Paper & Allied prod...
104
Chemicals. _ . .
1,441
Rubber products
305
Primary & fab. metals . 611
Machinery, excl. elec
1,236
Electrical mach
941
Transportation equip. .. 2,196
Other products .__ _. 1,171
11, 078 11, 914
967
957
136
159
1,787 1,927
378
390
824
957
1,633 1,813
1,108 1,193
2,648 2,769
1,597 1,749
8,550
903
123
1,435
333
616
1,046
955
2,057
1,082
6,747
785
95
1,190
270
469
824
748
1,538
828
*Less than $500.000.
Table 4.—Sales of Foreign Mining Affiliates by Area and Destination 1965,1967-68
[Millions of dollars]
Total sales
1965
1967
1968
1965
1967
1968
1965
1967
1968
5,269
780
988
1,119
1,303
1,644
1,864
1,426
1,917
2,286
2,058
395
478
542
687
829
912
398
489
604
1,724
67
1,814
105
240
10
282
40
317
47
535
1
696
3
570
60
805
27
801
55
617
345
816
476
3
132
4
184
4
209
73
7
637
(*)
154
24
216
37
342
56
459
137
596
230
1965
1967
1968
3,509
4,549
Canada
1,480
Latin American Republics and
Other Western Hemisphere. .- 1,345
Europe
71
1,796
All areas
Africa..
Asia and Oceania
*Less than $500,000.
418
195
Exported to
other countries
Exported to
United States
Local sales
October 1970
facturing transportation equipment
amounted to $2.2 billion, 11 times
greater than in 1965. Total exports of
affiliates to the United States excluding exports of Canadian affiliates
manufacturing transportation equipment were $2.5 billion in 1968 (4.6
percent of their sales) compared with
$1.6 billion in 1965 (4.1 percent of their
sales). Thus, the percentage of total
sales exported to the U.S. by all other
affiliates showed only a small rise.
Exports by all manufacturing affiliates to third countries remained at 14
percent of total sales in 1967 and 1968,
the same percentage as in 1965. Local
sales were 78 percent of the total in
1968, compared to 82 percent in 1965.
Mining
Sales of U.S.-owned foreign mining
affiliates rose 16 percent in 1968 to
$5.3 billion. The increase was slightly
faster than the average annual growth
rate in the preceding 2 years. Affiliates
in Africa and Australia registered particularly strong increases, at about
twice the industry rate in 1968, while
Latin American affiliates increased
sales only 5 percent in that year.
Slightly more than 35 percent of all sales
by mining affiliates in 1968 were
exported to the United States while an
additional 43 percent represented exports to third countries. In 1965, 37
percent of total mining sales was
exported to the United States and 41
percent to third countries.
Methodology
These data are estimates of total sales of
all foreign manufacturing and mining affiliates in which U.S. owners have a direct
equity interest of 25 percent or more. Reports
are received from approximately 500 major
U.S. parent companies reporting annually to
the Office of Business Economics. The published data are a combination of the reported
sample plus an estimate for nonreported
affiliates (the blowup). Changes are made
annually to the blowup for each industry and
area in direct proportion to the changes in the
reported sample data for that same industry
and area.
Initial estimates of the magnitude and
distribution of the blowup are made in a
base year when all foreign affiliates must
report their sales data (as well as many
other aspects of their operations) to this office.
The most recent base year for which data
are available is 1957.
Sales data for a new base year have been
collected—along with much other information—in the census of U.S. direct foreign
investment for 1966; these data cover about
3,500 U.S. parents and almost 25,000 foreign
affiliates. When processing of the 1966 census
is completed, the sales figures for 1967 and
1968 presented here will be revised to incorporate the new information.
By DAVID T. DEVLIN and GEORGE R. KRUER
The International Investment Position of the United States:
Developments in 1969
The net international investment position of the United States improved by
$1.5 billion in 1969 as total U.S. assets
rose $11.1 billion and total liabilities
rose only $9.6 billion. The rise in the
value of U.S. direct investments abroad,
including reinvested earnings, was $5.8
billion, slightly more than the rise in
1968. However, the net flow of corporate funds was slightly more favorable
to the balance of payments than in 1968
because earnings on direct investments
rose sharply The ratio of U.S. reserve
assets to liabilities to foreign official
agencies moved favorably, reflecting the
1969 surplus on the official reserve transactions balance; at the same time, the
ratio of U.S. reserve assets to liquid
liabilities continued to fall, reflecting the
large liquidity deficit.
tions of balance of payments flows, reinvested earnings, and valuation changes,
as well as changes in coverage and
statistical discrepancies (tables 2 and 3).
In addition, the changing structure of
the relation between the liquidity of
U.S. assets and the liquidity of U.S.
liabilities is analyzed (table 4 and chart
9).
A major part of the article is devoted
to discussion of U.S. direct investment
abroad and the flows associated with
such investments. A summary is given
in table 5 and detailed figures for 1969
are published here for the first time in
tables 5 through 11. Foreign direct
investment in the United States (tables
12 and 13) and portfolio investments
(tables 14 and 15) are also discussed.
Changes in the Net
International Position
Changes in the net international
J. OTAL international assets of the
investment
position of the United
United States—including official reserve
States
reflect
three major factors (table
assets—rose $11,064 million in 1969
1).
The
first
is
net recorded balance of
and U.S. liabilities to foreigners rose
$9,542 million. As a result, the net payments capital flows, which must be
international investment position im- equal to the current account (the balproved by $1,522 million, which was ance on goods, services, and unilateral
substantially greater than the small transfers) 1 adjusted for errors and
improvement of only $152 million in omissions. In effect, a surplus on the
1968. At yearend 1969, total assets current account adjusted for errors and
exceeded total liabilities by $67,046 omissions allows an improvement in our
net investment position. The second is
million.
reinvested earnings of U.S. affiliates
This article first considers the factors
abroad minus reinvested earnings of
accounting for the recent changes in
foreign enterprises in the United States.
the U.S. net international investment
Earnings of U.S. affiliates abroad not
position (table 1). The composition of
the shifts in the total value of assets sent back to the United States as inand liabilities from yearend to yearend come (and thus not included in the
is then discussed, noting the contribu- current account) improve our investNOTE.—Significant contributions were also
made by Julius Freidlin, Russell Scholl and
Zalie Warner.
1. If the errors and omissions in the balance of payments
accounts could be identified, a part would presumably go
into recorded capital flows and a part into recorded goods,
services, and unilateral transfer accounts. The two accounts
would then be equal.
ment position. The third factor is the
net change in valuation of outstanding
U.S. investments abroad and foreign
investment in the United States (including adjustments in the various
series for changes in coverage and
statistical discrepancies); these 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 changes
in valuation of outstanding assets and
liabilities.
From the mid-1950's through 1966,
we had a rather consistent rise in our
net investment position, which largely
reflected a strong trade balance and
growing income on investments (and
thus a surplus on the current account),
as well as a moderate growth in reinvested earnings; these factors were
only partly offset by adverse valuation
adjustments. However, in 1967 (when
the valuation adjustment was particularly adverse), and in 1968 (when
the trade balance dropped skarply),
the net investment position rose only
nominally.
Our net position showed a $1.5
billion improvement in 1969. Net reinvested earnings amounted to $2.1
billion and, more importantly, there
was an extremely favorable impact
of over $3.0 billion due to valuation
and price changes affecting outstanding portfolio holdings. (In 1968, valuation adjustments had been unfavorable.) As prices in the U.S. stock
market declined in 1969, the value of
outstanding U.S. stocks held by foreigners declined almost $3.0 billion,
thus reducing U.S. liabilities to foreigners. In addition, rising long-term
21
22
interest rates in the United States
reduced bond prices and the value of
outstanding foreign holdings of U.S.
bonds fell by almost another $1.0
billion. These shifts were only partly
offset by a $1.0 billion decline in the
value of outstanding foreign bonds
held by U.S. residents which resulted
from rising interest rates abroad. (Valuation adjustments to outstanding U.S.
holdings of foreign stocks were small.)
On the other hand, the net investment position was adversely affected by
the $3.7 billion net inflow of capital
recorded in the balance of payments.
This, in turn, reflected a $2.8 billion
negative errors and omissions (a sharp
deterioration from 1968) and a $0.9
billion deficit on current account ($0.5
billion more than in 1968). The deterioration in the current account
largely reflected a sharp increase in
payments to foreigners on their dollar
holdings due mainly to the sharp rise
in U.S. interest rates; there was little
change in the trade balance.
There are reasons to believe that our
investment position improved by more
than the recorded amount in 1969.
Available figures on Eurodollar market
holdings suggest that a substantial part
of the increased outflow from the United
States on errors and omissions reflected
flows of U.S. funds to the Eurodollar
market. Such flows would increase U.S.
assets abroad, but are not reflected in
the recorded capital flows nor in the
investment position. If rough allowance
is made for such unrecorded flows to
the Eurodollar market, it appears that
the net investment position might have
improved by perhaps as much as $3.0
billion, rather than $1.5 billion.
While the net change in our investment position can be considered to be
accounted for by the factors just discussed (the current account adjusted
for errors and omissions, reinvested
earning and valuation adjustments),
capital flows, of course, may have a
major impact on trade, services, and
earnings. To the extent this occurs, the
change in the net investment position
is not determined independently of
capital flows. On the other hand, an
outflow of capital from the United
States does not necessarily result in a
SUEVEY OF CUEKENT BUSINESS
October 1970
funds from abroad as recorded in the
balance of payments, and a large swing
in price adjustments to foreign portfolio holdings in the United States,
mostly reflecting the decline in prices
of U.S. stocks.
The lower inflow of funds from abroad
Changes in U.S. Assets and reflected smaller purchases of private
U.S. securities by foreigners, and very
Liabilities
large adverse shifts by foreign official
The composition of changes in assets agencies in their holdings of long-term
and liabilities was quite different in time deposits at U.S. banks (table 2,
1969 than in 1968 (tables 2 and 3). The line 33) and of "nonliquid" U.S.
increase in U.S. nonliquid assets abroad Treasury securities (table 2, line 37).
was $9.8 billion in 1969, about $1.0 These transactions by foreign official
billion lower than in 1968. Outflows of agencies are some of the "special financapital recorded in the balance of pay- cial transactions" which have distorted
ments were slightly lower in 1969. More the liquidity balance in recent years.
importantly, price adjustment to the
Shifts in liquid assets and liabilities
value of outstanding foreign securities of the United States in 1968 and 1969
held by U.S. residents was large and were even more striking. In the earlier
adverse in 1969 while it was favorable year, U.S. liquid assets—i.e., U.S.
in 1968. This shift offset the favorable monetary reserves—rose $880 million,
impact of an increase in reinvested while liquid liabilities rose only $495
earnings. As a result, the increase in million, producing a $385 million imassets due to factors other than capital provement in our net liquidity position.
flows was only $2,393 million in 1969, (The change in liquid liabilities incompared with $3,125 million in 1968. cluded a $214 million adjustment for
The increase in U.S. nonliquid li- changes in coverage. Excluding this
abilities was only $1.2 billion in 1969, adjustment, the balance of payments
following a $11.0 billion increase in flows were an $880 million increase in
1968. This $10 billion shift reflected a reserves and a $709 million increase in
sharp fall in the inflow of nonliquid liquid liabilities. The difference is equal
net change in the U.S. international
investment position unless one of the
factors mentioned also is influenced.
These questions were discussed more
fully in the Investment Position article
in the October 1969 SURVEY.
Table 1.—Factors Accounting for Changes in the Net International Investment Position
of the United States
[Millions of dollars]
Average
Item
1951-55 1956-60
Balance on goods, services, and unilateral transfers (surplus
(+))
. .
.
Adjustment for: Errors and omissions (receipts (+))
.
-498
300
1967'
1968 r
1969 P
1961-65
1,002
3,838
2,492
2,243
-336
-885
173
-910
-514 -1,088
-514
-2,841
Equals:
Net recorded balance of payments capital
flows (outflow (+))
1,175
-197
1,002
Change in U.S. assets (increase (+))
3,283
Change in U.S. liabilities (increase (— ))- -1,199 -2, 108
Plus :
Net reinvested earnings (increase (+))
Plus:
Changes in net valuation and other adjustments
of which: Changes in coverage and statistical discrepancies _
1,155
2,927
1,978
5,299
8,008
5,097
-2, 170 -3,321 -6,853
990
1,072
-370
i -699
r -249
n.a.
n.a.
n.a.
670
1966 '
1,400
1,158
-10 -2,006
-848 -3,726
8,604
8,561
-9,409 -12,330
1,687
2,101
-687
3,147
198
-188
Equals :
Change in net international investment posi152
102
1,466 ' 3, 426 3,367
307
tion of the United States
9,591
11, 687
2,143 4,138 '6,938
5,037
Change in U.S. assets (increase (+))
Change in U.S. liabilities (increase (-))- -2,041 -2,673 ••-3,511 -1,670 -9,284 -11,535
1,522
11, 064
-9,542
Addendum:
Net international investment position
of the
United States at end of period 2
r
37, 237
44, 566 ' 61, 698
25
65, 065
297
65, 372
65, 524
67, 046
Revised.
» Preliminary.
n.a. Not available.
1. Includes an adjustment for direct investment in Cuba omitted from the data effective 1960.
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.
October 1970
SURVEY OF CURRENT BUSINESS
23
Table 2.—International Investment Position of the United States at YearendJ
[Millions of dollars]
Western Europe
TotalJ
Line
19651
1968'
1 NET INTERNATIONAL INVESTMENT
POSITION
OF
THE
UNITED STATES
..
44,566
61, 698
65, 524
2
85,768 120,457 146,772 157,836
39, 721
.. .. .. _ 66, 409 105, 007 131, 062 140, 872
4
5
6
7
8
9
10
11
12
13
14
15
Latin American
Republics and
other Western
Hemisphere
Japan
Type of investment
19601
3
Canada
U.S. assets abroad
Nonliquid _ ... - .. ..
Private
.
Long-term
Direct investments 2 - _ .. . .
Foreign dollar bonds
Other foreign bonds
Foreign corporate stocks
Claims reported by U.S. banks. ..
Other *
Short-term
Claims reported by U.S. banks. ..
Other *
U.S. Government
... ..
1969 P
1968'
1,453
1,591
34, 323
5,732
6,469
36, 198
38, 593
31, 806
34, 323
5,731
6,468
30, 310
31, 795
34,308
5,005
28, 177
44, 447
71, 375
16, 103
16, 946
12, 314
1,218
265
(*)
398
88
141
13, 101
721
211
101
1,377
592
13,811
688
242
114
1,330
761
9,160
1,507
83
177
1,113
274
4,983
10, 153
12, 990
14, 123
3,439
3,589
1,214
1,708
3,323
3,627
3,550
3,493
1,463
1,706
1
(*)
3,594
1,389
7,735
2,418
8,711
4,279
9,606
4,517
1,181
2,258
1,418
2,171
533
681
826
882
3,114
209
3,372
255
2,889
661
2,805
688
994
469
1,185
521
1
(*)
(*)
28, 543
30, 720
8,021
8,283
11
15
726
731
5,270
5,822
13, 257
14, 570
1,257
1,300
1,252
1,252
1,295
1,295
25, 940
19, 967
5,973
28, 210
21, 971
6,239
7,805
6,730
1,075
8,034
6,981
1,053
4
4
10
10
677
577
100
698
599
99
5,237
4,644
593
5,792
5,120
672
10, 965
6,760
4,205
12, 382
7,966
4,415
5
33
30
2,292
2,188
2,603
2,510
216
249
7
49
33
16, 964
3,523
2,780
4
(*)
1
1
21
22
23
Gold
17, 804
Convertible currencies . . . _
IMF gold tranche position _ ... ... - 1,555
13, 806
781
863
10, 892
3,528
1,290
11, 859
2,781
2,324
3,523
2,780
4
(*)
1
1
58,759
81,248
90, 790
48,242
55,463
11,010
11, 773
4,279
4,878
19,654
29, 644
47, 634
48, 872
30, 934
32, 707
7,829
7,489
950
19, 382
27, 362
42, 890
43, 945
28, 056
29, 500
6,468
6,327
939
18, 418
26, 394
40, 353
40, 986
26, 301
27, 452
6,187
6,049
6,910
649
9,302
7
8,797
875
14, 599
513
10, 815
4,214
19, 551
3,166
11,818
4,800
18, 140
2,490
7,750
3,366
13, 186
17
8,510
3,770
12,106
54
2,659
69
3,285
1
2,834
87
2,950
(*)
7
393
120
825
2,341
983
1,507
6
11
54
1,550
r 1, 610
2,607
3,738
1,982
3,012
173
178
964
968
2,537
2,959
1,755
2,048
281
278
91
272
2,282
4,744
4,927
2,878
3,207
1,361
1,162
11
2
271
496
1,786
2,723
2,021
2,645
2,282
1,029
1,849
1,251
1,956
1,334
27
1,129
33
21,549
29, 115
33, 614
41,918
17, 308
22, 756
3,181
4,284
9,139
12, 909
20, 103
28, 907
10, 307
16, 897
2,649
3,789
4,818
4,321
7,419
5,490
14, 472
5,631
23, 665
5,242
8,872
1,435
15, 383
1,514
12, 410
16, 206
13, 511
13,011
7,001
5,859
4,019
8,391
5,914
10, 292
5,599
7,912
7,227
5,784
2,730
4,271
3,350
2,509
21,549
29, 115
33, 614
41, 918
17, 308
22, 756
3,181
4,284
3,329
11, 062
17, 195
24, 457
34, 964
12, 581
19, 686
2,616
3,770
2,090
3,530 '0 1, 667
1,517
1,183
1,086
384
272
7,260
230
5,218
219
3,544
1,984
181
242
32
33
To private foreigners
To foreign official agencies
34
Other*
35
Short-term 4
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
41,202
Direct investments. ... Corporate and other bonds
Corporate stocks
Liabilities reported by U.S. banks.
U.S. Government
Certain liabilities
to foreign official
agencies 7 ..
...
Other
Liquid.
. . .
To private foreigners 8 _ - -
...
To banks 9 8
Toothers
To foreign official agencies
Reported by U S banks
U.S. Treasury obligations
Addenda: Total liquid liabilities
Private, reported by U.S. banks
U.S. Treasury Marketable or convertible bonds and notes
U.S. Treasury bills, certificates, and
other obligations.
Gold deposits of IMF
r
o 2, 326
8,161
8,356
34
Revised
p Preliminary.
N.A. Not available
* Less than $500,000 (±).
^Includes U.S. gold stock.
N.S.S. Not shown separately.
1. Unrevised except where indicated; otherwise the data are as published in the SURVEY,
October 1969.
2. Excludes data for Cuba after 1959.
3. For the most part represents the estimated investment in shipping companies registered
primarily in Panama and Liberia.
4. These items mostly reflect transactions by U.S. nonbank residents as reported in lines
39,40, 55, and 56 in balance of payments table 1, SURVEY, September 1970, page 36. However,
the long-term position data given here include estimates for real estate, insurance, estates,
and trusts, and prior to 1961, the short-term position data include an omissions estimate.
5. Also includes paid-in capital subscription to international financial institutions (other
4,384
3 3, 060
1,324
2,110
1,050
309
(*)
74
122
127
15, 710
Long-term
4,112
1,682
21, 075
6,110
802
3,406
208
999
3,161
28
29
30
31
13, 266
10, 043 3 2, 731
1,381
1,609
65
219
957
373
32, 600
15, 450
27
4,384
19,535
5,995
741
3,201
228
881
2,892
. ..
4,113
30, 581
Liquid: U.S. monetary reserve assets. ._ 19, 359
._.
14, 972
26, 721
Foreign currencies and other claims-
...
13, 777
21, 554
583
24
2,816
454
1,290
19
.
20, 439
19, 407
652
104
2,899
527
1,149
20
Private
5,684
19, 653
24, 738
20, 318
14, 968
5,350
Nonliquid
5,370
70, 763
10, 579
1,133
6,953
3,037
3,564
23, 479
26
29,542
96, 029
. 16, 979
25
27, 034
89, 529
Long-term credits 5 _
. ..
14, 087
Repayable in dollars..- ..
.. N.A.
Others
N.A.
U.S. liabilities to foreigners
19,867
26, 261
1968'
31, 865 49, 474 64, 983
4,891 9,115 10,565
633
1,050
1,139
3,984
5,048
6,452
1,698
4,317
3,367
1,376 ' 2, 371 3,023
16
17
18
24
16,898
17,552
5,737
22,550
31,810
81, 528 102, 519 110, 152
14,812
29,542
24, 923
20,800
41,373
49, 430
23, 232
27,034
16,863
26,261
-14,090
67, 046 -8, 521
20,881
16, 100
24, 923
1969 P
1969 P
1968^
1968 '
1968 r
International
organizations
and
unallocated}:
1969 *
1969 v
1969 P
1969 v
1968 r
Other foreign
countries
5
5
12, 182
14, 183
10, 892
11, 859
1,290
2,324
6,310
2,740
2,969
8,823
9,398
6,153
1,029
4,050
3,642
2,757
2,548
1,113
1,458
996
4,015
3,595
2,299
2,069
1,113
1,458
848
853
3,803
3,341
2,101
1,833
1,113
1,458
181
(*)
9
658
176
(*)
10
655
182
149
2,364
856
193
141
2,156
525
43
96
559
1,203
105
63
758
697
534
148
431
739
160
559
N.S.S. N.S.S. N.S.S. N.S.S.
N.S.S. N.S.S. N.S.S. N.S.S.
345
511
316 N.S.S. N.S.S.
209 N.S.S. N.S.S.
431
559
12
252
326
200
210
143
212
254
198
236
33
35
47
458
479
11
33
35
47
359
99
265
214
3,329
3,396
3,762
1,627
N.S.S. N.S.S.
597
492
(*)
(*)
(*)
1,511
3,849
4,773
5,756
N.S.S. N.S.S.
3,405
4,062
N.S.S. N.S.S. N.S.S. N.S.S.
N.S.S. N.S.S. N.S.S. N.S.S.
786
2,619
1,902 N.S.S. N.S.S.
2,160 N.S.S. N.S.S.
597
(*)
492
495 N.S.S. N.S.S.
1,368
1,694 N.S.S. N.S.S.
1,030
1,019
N.S.S. N.S.S. N.S.S. N.S.S.
N.S.S. N.S.S. N.S.S. N.S.S.
1,256
112
1,643 N.S.S. N.S.S.
51 N.S.S. N.S.S.
230
800
219
800
3,849
4,773
5,756
3,396
3,762
1,627
1,511
2,554
4,601
5,642
2,383
3,077
186
235
9
61
30
33
36
33
25
32
1,230
1,234
142
81
977
652
1,186
230
1,025
219
532
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.
6. 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.
7. Represents U.S. Government liabilities that are held in reserve assets of official monetary institutions. Also includes U.S. Government notes held by the Canadian Government
in connection with the 1964 Colombia River power rights arrangements.
8. Includes liabilities to international and regional organizations.
9. As reported by U.S. banks: ultimate ownership is not identified.
10. A significant change in reporting coverage of the data occurred between this period and
the preceding period.
NOTE.—Data for Japan are presented for the first time; the estimates are based on developments since 1946.
SUEVEY OF CUREENT BUSINESS
24
to the $171 million surplus in the
liquidity balance recorded for 1968.)
In 1969, on the other hand, U.S.
reserve assets rose $1,254 million, while
liquid liabilities rose $8,304 million,
producing a deterioration in our net
liquidity position of $7,050 million.
(Considering only balance of payments
flows, the difference between the increase in reserves and the increase in
liquid liabilities is $7,012 million, which
is equal to the recorded deficit in balance of payments on the liquidity basis
for 1969.)
Liquidity structure
The evolution of the liquidity structure of U.S. assets and liabilities can be
conveniently analyzed in terms of the
ratios computed in table 4 and shown
in chart 9. It must be recognized, however, that within each of the categories
October 1970
of assets and liabilities used, the degree
of liquidity of the various components
is difficult to judge and can vary considerably. This difficulty increases when
a number of categories are combined.
Partly reflecting these considerations,
CHART 9
Liquidity Ratios: Outstanding U.S. Assets
Abroad to Liabilities to Foreigners by
Degree of Liquidity
Ratio
Table 3.—Changes in the International Investment Position of the United States
Reconciled with Balance of Payments Capital Flows
[Millions of dollars]
Lines
in
table
2
Net International Investment Position and U.S.
Assets Abroad
Item (increase +)
1968'
1 NET INTERNATIONAL INVESTMENT POSITION OF
THE UNITED STATES
Balance of payments capital
flows
Other than capital flows
2
3
4
5
6
7-8
9
10-11
12
15
16
19
20
21
152
1969 v
Nonliquid
Capital flows
Other than capital flows
Private
Long-term
1.5 -
U.S. Liabilities to Foreigners
Lines
in
table
2
1968 '
Item (increase +)
11,687
8,561
3,125
11,064
8,604
2,460
24
10, 807
7,681
3,125
9,810
7, 417
2,393
25
8,580
7,633
26
U.S. Liabilities to foreigners
Capital flows
Other than capital flows
Nonliquid-- ...
Capital flows
Other than capitalflows..
Long-term
.. ... .
Corporate and other bonds.
Capital flows
Price changes
2,093
2,292
-200
586
1,547
-961
Corporate stocks
Capital flows
Price changes .
Valuation adjustments
4,040 -1,411
1,565
2,096
1,944 -2,966
-10
Liabilities reported by U.S.
banks and Other
Capital flows
Changes in coverage
1,321
1,321
455
15
440
759
759
422
76
346
1,935
183
1,807
1,807
-78
-162
84
128
107
2.0 -
21
261
258
10
-7
495
709
-214
8,304
8,199
105
1.5 -
Foreign bonds
Capital flows
Price changes
8
925
1,099
1,027
-174 -1,019
29
Foreign corporate stocks
Capital flpws
Price changes
1,214
155
1,059
501
467
34
30
Claims reported by U.S.
banks and Other
Capital flows
Changes in coverage
-138
-138
211
94
117
31-34
1,087
1,087
1,133
575
558
2,227
2,177
2,297
2,331
-6
—29
2,270
2,273
-3
Foreign currencies and other
claims
Capital flows
Valuation adjustments
Statistical discrepancies
-70
-62
-14
6
-93
-89
-8
4
Liquid: U.S. monetary reserve
assets
Capital flows.
Other than capital flows
880
880
1,254
1,187
67
-1,173
967
1,183
1,183
-747
-814
67
870
1,034
Long-term credits.
Capital flows. _
..
Losses on write-offs
Valuation adjustments
IMF gold tranche position
36
37
38
39
..
Short-term
__ ..
Capital flows
Changes in coverage
U S Government
Certain liabilities to foreign
official agencies _
Capital flows
Valuation adjustments
Other
- -Capital flows..
Valuation adjustments _
Statistical discrepancies
Liquid
Capital flows
Other than capital flows
3,663
8,804
To banks
......
Capital flows
Changes in coverage. .
3,387
3,387
9,193
9,217
-24
42
To others
Capital flows
Changes in coverage
276
423
-147
-389
-501
112
43
To foreign official agencies
-3, 168
-500
44
Reported by U.S. banks
-524
1,628
45
U.S. Treasury obligations
Capital flows.. ._
Valuation adjustments
Changes in coverage .
To private foreigners
2.0 -
1.5
-
1.0 -
.5 -
41
40
2.5
1,055
633
Direct investments
Capital flows
Reinvested earnings
Valuation adjustments
U.S. Government
LIQUID AND LESS
LIQUID COMBINATIONS
1,003
832
431
-260
28
35
11,040
1,238
8,700
4,131
2,339 -2,893
3.0
892
319
488
85
27
5,780
3, 070
2,532
178
23
1.0 -
8,346
6,500
5,492
3,209
2,175
108
Short-term
Capital flows
Changes in coverage
9,542
11, 535
9,409 12, 330
2,125 -2, 788
9,105
Private
7,493
Convertible currencies
Capital flows
Valuation adjustments _
1969"
1,522
Direct investments
Capital flows
Reinvested earnings
Valuation adjustments
22
MONETARY COMBINATIONS
-848 -3, 726
1,000
5,248
U.S. assets abroad
Capital flows
Other than capital flows
Gold
2.0 -
-2,644 -2,128
-2, 577 -2, 145
17
-67
i
0
I
I
I
I
I
I
I
I
I
3.0
LEAST LIQUID COMBINATIONS
2.5 -
1.0 -
.5 -
I960 61
62
63
64
65
66
67
68
69
Note.-Refer to table 4 for data.
U.S. Department of Commerce, Office of Business Economics
70-10-?
October 1970
SURVEY OF CURRENT BUSINESS
25
Table 4.—Liquidity Ratios: Outstanding U.S. Assets to Liabilities to Foreigners by Degree of Liquidity
Refer to
chart 9
Ratios
Lines in table 2
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
MONETARY COMBINATIONS
A.
A2
A
20
Reserves
33, 37, 43
Liabilities to foreign official agencies
20
Reserves
39
All liquid liabilities
20
33, 37, 39
Reserves
1 56
1 49
1 25
1 10
1 00
0 92
0 93
0 76
0 85
0 9
90
80
72
64
57
53
50
45
47
4
on
OA
71
CO
ca
CO
48
41
4.1
All liquid liabilities and nonliquid liabilities to foreign official"
agencies
LIQUID AND LESS-LIQUID COMBINATIONS
B,
B0
20, 12
Reserves and short-term private claims
33, 37, 43
Liabilities to foreign official agencies
20, 12
Reserves and short-term private claims
33, 37, 39
All liquid liabilities and nonliquid liabilities to foreign official
agencies
20, 12
Reserves and short-term private claims
33, 35, 37, 39
Liquid and near-liquid liabilities, excluding portfolio
20, 12, 7, 8, 9
Reserves, short-term private claims, and portfolio investment
29, 30, 33, 35,
37,39
Liquid and near-liquid liabilities, including portfolio
T3i
1 96
2 00
1 78
1 13
I ns
I fn
1 08
1 04
1 04.
2 08
1 52
1 59
1 38
1 55
no
8fi
89
7e
74
92
91
83
79
71
70
1 no
QC
no
00
Sfi
77
72
2 03
2 02
2 01
2 05
2 08
1 94
1 81
1 63
1 65
Q4.
97
no
1%
18
£
LEAST LIQUID COMBINATIONS
C,
C2
2
Total U.S. assets abroad
24
Total U.S. liabilities to foreigners
the assets and liabilities compared in
the various ratios are not necessarily of
equal liquidity.
The ratio of U.S. reserves to U.S.
liabilities to foreign official agencies
(ratio AI) largely reflects the influence
of the balance of payments as computed
on the official reserve transactions basis.
It is also influenced by the method of
financing the official balance, i.e.,
whether it is financed by a change in
U.S. reserves or an increase in liabilities.
Reflecting the behavior of all ratios,
when the ratio is greater than 1.0 (and
reserves exceed liabilities, as from 1960
to 1963) a deficit of a given size will
cause a greater reduction in the ratio
if it is financed by an increase in liabilities than if it is financed by a decrease in reserves. When the ratio is
1.0 or less, a given loss of reserves has
a greater adverse impact than an equal
increase in liabilities. Of course, in
judging the adequacy of U.S. reserves
one must also take into account the
absolute level of reserves and liabilities,
as well as the ratios.
Reflecting the substantial deficits
in the official settlements balance,
the AI ratio shows a consistent decline
from 1960 through 1967, although it
flattened in the mid-1960's when the
balance temporarily improved. In 1968
and 1969, however, when the official
balance was in substantial surplus, the
ratio improved. At end 1969, it stood at
about 1.0 (about the same as end
1964)—that is, U.S. reserves were equal
to our liabilities to foreign official
agencies. Of course, with the large
official deficit in the first half of 1970,
the ratio dropped significantly lower.
The ratio of U.S. reserves to all U.S.
liquid liabilities (A2) is similarly influenced by the liquidity deficit and
whether it is financed by an increase
in liabilities or a decline in reserves.
This ratio has also shown a rather consistent decline reflecting the persistent
deficits in the liquidity balance. At end
1969, the ratio was 0.4 (i.e., reserves
were less than half of our liquid
liabilities).
Including certain nonliquid liabilities
to foreign official agencies (which reflect
special financial transactions that are
considered to distort the liquidity
balance) with liquid liabilities and
recomputing the ratio (ratio A3), gives
I <•
essentially the same impression as the
ratio of reserves to only liquid liabilities. However, the adjusted ratio is
somewhat lower than the A2 ratio
reflecting the growth in holdings of
nonliquid securities by foreign official
agencies.
While U.S. reserves are the most
highly liquid assets that are available
to defend the value of the dollar, part
of private short-term claims of banks
and nonbanks can be considered sufficiently liquid to provide an offset to the
liquid liabilities. Ratios BI, B2 and B3
compare U.S. reserves plus short-term
private claims to various combinations
of liquid and less-liquid liabilities. The
comparison with liabilities to foreign
official agencies (BO indicates that such
assets were about twice such liabilities
in the early 1960's, declined to 1.38 in
1967 but then rose to 1.81 by end 1969.
Not only is the level of the ratio consistently higher than the ratio of reserves
alone to liabilities to official foreign
agencies (AO, but the deterioration
from 1960 to 1969 is less pronounced.
This indicates that the decline in U.S.
reserves was to some extent offset by a
buildup of generally less-liquid short-
SURVEY OF CURRENT BUSINESS
26
term private claims. Some of these
claims, such as Eurodollar and money
market holdings of banks and nonbanks,
are quite liquid; others, such as trade
credits, loans and brokers' claims are
significantly less so.
The ratios of U.S. reserves and shortterm private claims to liquid and lessliquid liabilities (B2 and B3) behave in
a manner similar to the more monetary
ratios computed in A2 and A3. However,
the deterioration from 1960 to 1969 is
not quite as strong, and the levels are
somewhat more favorable. (Less liquid
liabilities in ratio B2 are the "nonliquid"
liabilities to foreign official agencies.
Less-liquid liabilites in ratio B2 also
include short-term private liabilities of
nonbanks, such as brokers' liabilities,
trade credits and loans from foreigners,
a good part of which are probably not
easily liquidated.)
Looking at a wider spectrum of assets
and liabilities, in ratio Ci, U.S. portfolio assets are added to reserves and
short-term private claims and compared with foreign portfolio assets in the
United States, as well as with liquid and
other less-liquid liabilities (as used in
ratio B3). The impression is similar to
that given by the more liquid combinations as A3 and B3; however, the
deterioration is noticeably less pronounced. Of course, the value of portfolio holdings could decline sharply if
either U.S. residents or foreigners attempted to liquify any substantial
amounts of their holdings. This is one
reason they cannot be considered as
liquid as some of the other items
discussed.
In general, it appears that there is a
persistent tendency for the structure of
U.S. assets to become relatively less
liquid compared with the structure of
U.S. liabilities. The proportion of
liquid (or liquid and less-liquid) assets
to total assets has tended to fall, while
the proportion of liquid (or liquid and
less-liquid) liabilities to total liabilities
has shown relatively little change. For
example, liquid liabilities plus nonliquid liabilities to foreign official agencies have persistently remained about
one-half of total liabilities.
The ratio of total assets to total
liabilities (C2) is not intended to meas-
Table 5.—Flows of Certain U.S. Corporate Funds—Changes in Foreign Assets and
Liabilities, Adjusted Earnings, and Fees and Royalties
[Millions of dollars]
N e t flow _ _
Western Europe
Total
Item, debits ( —), credits (+)
1965
1966 «•
1967 '
1968'
2,114
2,033
2,821
5,311
1969
p
5,578
1965
1966"
-141
1967 r
414
1968
r
1969 *
2,962
2,471
Change in direct investment position. . -4, 994 -5, 325 -4,692 -5, 492 -5, 780 -1,856 -2, 249 -1,670 -1,503
Balance of payments flows. . . -3,468 -3,661 -3, 137 -3,209 -3, 070 -1,479 -1,834 -1,458 -1,001
-1,542 -1,739 -1,598 -2,175 -2, 532
-456
-269
Reinvested earnings
-408
-435
-46
Other adjustments ... .
20
16
75
43
-108
31
57
-178
-2, 147
-1,158
-845
-144
Other corporate claims
Long-term l
Short-term . . . . .
Corporate liabilities other than new
issues of securities
Long-term l
Short-term Ne w issues of securities 2
Of which: Used for direct investment
Deposited abroad (shortterm corporate claims)
Adjusted earnings 3
Reinvested earnings
Income on U.S. direct investments abroad.
.. -
7
368
-88
456
-434
-112
-322
-590
-281
-309
-992
-220
-772
-358
-424
66
26
30
-4
-444
-79
-365
-221
-76
-145
-738
-148
-590
180
-131
311
136
29
107
459
180
279
448
85
363
1,149
715
434
969
691
278
119
23
96
371
192
179
325
64
261
1,141
708
433
806
637
169
191
-52
594
-445
446
-278
2,144
-785
1,029
-631
n.a.
n.a.
n.a.
446
2,144
1,029
-187
n.a.
n.a.
n.a.
n.a.
n.a.
-96 -1,139
191
594
n.a.
n.a.
-139
-143
5,505
1,542
5,784
1,739
6,116
1,598
7,148
2,175
8,171
2,532
1,176
408
1,164
435
1,118
269
1,361
456
1,871
845
3,963
4,045
4,517
4,973
5,639
768
729
849
905
1,026
Fees and royalties from U.S. direct
investment
924
1,030
1,136
1,246
1,369
382
443
473
511
588
Offset to "other adjustments" in
direct investment
-16
-75
-43
108
178
-31
-20
-57
46
144
r
Revised.
» Preliminary.
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 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. For a discussion of this concept see the technical appendix.
October 1970
ure changes in the liquidity structure
of our position. It focuses, instead, on
the relative amount by which assets
exceed liabilities, similar to the way the
net international investment position
focuses on the absolute difference between total assets and total liabilities.
This ratio was about 2.0 in 1960,
essentially remained at that level
through 1966, and then declined in 1967
and 1968 as total assets and total
liabilities both rose by about the same
amount. Even in 1969, when there was
a $1.5 billion improvement in the net
international investment position, the
improvement was not sufficient to prevent a further small decline in the ratio.
U.S. Direct Investments
Abroad
The value of U.S. direct investments
abroad increased by $5.8 billion in 1969,
about $0.3 billion more than in 1968
(table 5). The 1969 increase brought the
book value of such assets to $70.8 billion, or 45 percent of the value of all
U.S. foreign assets. Capital outflows of
$3.1 billion for direct investments
abroad in 1969, which includes the use
of both U.S. funds and funds raised
abroad by U.S. corporations, were only
marginally below the 1967 and 1968
level, but substantially below 1966 outflows of $3.7 billion. Reinvested earnings rose $357 million to $2.5 billion in
1969, but this was not as sharp an
increase as that which occurred between
1967 and 1968.
A large number of international
transactions must be examined in order
to determine the balance of payments
impact of U.S. direct investments
abroad. These associated flows have
have been combined with the explicit
direct investment flows in table 5. Balance of payments signs are used and
therefore increases in U.S. claims
abroad are shown as minuses. (It should
be noted that some of the accounts
include items such as trade credits
which are not related to direct investment.)
In addition to the outflow of direct
investment funds, one needs to know
how much is borrowed abroad by U.S.
corporations, either directly from foreign banks and others, or by new issues
October 1970
SUEVEY OF CUEKENT BUSINESS
of securities abroad. Furthermore, the
various uses of the proceeds of borrowings—whether they are used to finance direct investments abroad at the
time of borrowing, or are repatriated
to the United States, or are left on
deposit abroad for later utilization—
have quite different impacts on the balance of payments. The disposition of
the U.S. corporations' share of earnings
of foreign affiliates—whether they are
returned to the United States as income
on direct investments or are reinvested
abroad—has significant implications for
the balance of payments, as does the
amount of fees and royalties received
by U.S. parents from their direct investments abroad. These effects are
summarized in table 5. (As discussed
in the Investment Position article in
the October 1969 Survey there are a
number of influences of U.S. corporate
international transactions on the
balance of payments which cannot be
fully segregated and reflected in the
table.)
The net flow of corporate funds in
1969 associated with the identifiable
transactions had a favorable impact on
the balance of payments of $5.6 billion,
an improvement of $0.3 billion over
1968. (The $2.5 billion improvement
between 1967 and 1968 was probably
associated with the Foreign Direct
Investment Program which was made
mandatory at the beginning of 1968.)
In 1969, the change in the direct
investment position was adverse by
$288 million more than in 1968. This
mostly reflected an increase in reinvested earnings as capital outflows
showed a small improvement. Longterm corporate claims (other than
direct investment) shifted adversely
by $204 million in 1969; most of this
shift was accounted for by the receipt
of long-term notes as a result of the
liquidation of a major U.S. direct
investment in Latin America. The
entries in this account and in the direct
investment capital flows account due
to the liquidation are mostly offsetting.
Borrowing abroad by corporations
was down sharply in 1969; new issues of
securities declined by $1.1 billion and
other inflows from borrowing (as reflected in other corporate liabilities)
declined by $180 million. Partly associ
27
ated with the $1.3 billion adverse move- of the overall improvement of $267
ment in borrowing was an improvement million came from the offset to the
of $838 million in short-term claims. direct investment
valuation
adIn 1968, when borrowing abroad was justments.
much higher, corporations left a substantial part of the funds borrowed on Country and industry distribution
deposit abroad which caused a sharp of direct investment
The developed countries, which inincrease in short-term claims. The net
cludes
Canada, Western Europe, Auseffect of the change in borrowing and
tralia,
New
Zealand, South Africa, and
in short-term claims was an adverse
Japan
accounted
for $4.2 billion or 73
movement of $0.5 billion from 1968 to
percent
of
the
$5.8
billion growth in the
1969.
book
value
of
direct
investments during
The major improvement among all
these accounts was in adjusted earnings 1969 (table 6, chart 10). In 1968, these
on direct investments abroad, which areas accounted for $3.4 billion or 62
increased by $1.0 billion\o $8.2 billion percent of the $5.5 billion total rise in
in 1969. Income receipts accounted for direct investments. U.S. investment in
$0.7 billion of the increase while the Canadian affiliates increased by $1.5
remainder was reinvested abroad. Fees billion during 1969, while investment in
and royalties showed a $123 million the European Economic Community
improvement between 1968 and 1969. (EEC) increased by $1.2 billion.
Investments in less developed counThe $1.1 billion improvement in
earnings and fees and royalties exceeded tries rose over $1.2 billion last year,
the adverse effects of the other flows about $0.2 billion less than in 1968.
by about $150 million; the remainder The gain would have been about the
CHART 10
Annual Additions to Direct Investments Abroad by Industry and Major Area
Billion $
Billion $
(ratio scale)
8
-
-
BY INDUSTRY
BY AREA
6
Total
Total
Petroleum
•
/
••
/
.2
j
I960
62
64
66
1. Includes "other Western Hemisphere"
U.S. Department of Commerce, Office of Business Economics
I
L
68
1960
/
\
• /
I
I
62
/
Latin America 1
V
I
I
64
I
I
66
I
I
68
I .2
SUEVEY OF CUEEENT BUSINESS
28
same in both years except for the involuntary sales of majority interest in
two mining enterprises to the Chilean
Government and the sale of a public
utility company to the Peruvian Government. Despite these sales, investment in the Latin American Eepublics
increased by $0.6 billion. Direct investment in the international, unallocated category rose less than $0.3
billion in 1969, after rising $0.4 billion
in 1968.
While the total value of U.S. direct
investments abroad is not affected by
valuation adjustments made as a result
of capital flow between primary and
secondary foreign affiliates, country
values are adjusted as shown in table 7.
And, although not shown in table 7,
industry values are also affected.
October 1970
Manufacturing. U.S. ownership in
foreign manufacturing affiliates increased
$3.0 billion during 1969 to almost $30.0
billion at yearend. In 1968, the increase
was $2.2 billion. Last year's gain reflected reinvested earnings of $1.9
billion and capital outflows of $1.1
billion. Direct investments in manufacturing have shown the greatest increase in value of any industry since
1960 (table 9).
Table 6.—U.S. Foreign Direct Investments,
[Millions
A.— Book value at yearend 1
1968 r
Area and country 2
Line
Total
1
2
All areas _.
Developed countries
3
Canada. ..
4
Europe 3
__
. ..
1969 *
Mining
Manu- Trans&
Petro- factur- portation Trade
smelt- leum
& utiliing
ing
ties
Other
Total
Mining
Manu- Trans&
Petro- factur- portation Trade
smelt- leum
& utiliing
ing
ties
Other
64,983
5,435
18,887
26,414
2,672
5,280
6,295
70,763
5,635
19,985
29,450
2,676
5,832
7,184
43,500
3,145
9,922
21,716
699
3,608
4,410
47,701
3,315
10,447
24,282
722
4,043
4,892
19,535
2,638
4,094
8,568
599
1,123
2,513
21,075
2,764
4,359
9,389
629
1,221
2,713
19,407
61
4,636
10,796
94
2,129
1,691
21,554
72
4,805
12,225
84
2,415
1,954
5
United Kingdom
6,694
2
1,563
4,243
20
420
446
7,158
2
1,563
4,555
16
455
566
6
European Economic Community
9,012
19
2,146
5,399
54
848
546
10, 194
17
2,243
6,340
53
948
592
981
1,904
3,785
1,275
1,069
(*)
10
(**)
(**)
(*)
14
292
1,104
479
257
601
1,340
2,285
617
555
1
14
18
3
18
159
163
264
105
157
205
83
113
72
82
1,210
2,091
4,252
1,423
1,218
(*)
10
(**)
(**)
(*)
57
295
1,067
506
318
700
1,518
2,750
716
656
2
8
22
3
18
214
169
284
106
175
237
91
128
92
51
3,701
40
926
1,155
19
861
699
4,202
52
998
1,329
15
1,012
795
204
201
582
516
1,437
761
1
111
101
135
281
8
292
48
52
306
139
336
275
309
223
577
604
1,606
883
197
103
116
304
-30
308
58
62
295
179
380
356
°8
",
3
21
29
8
625
32
1
13
41
26
100
88
469
137
49
34
120
112
541
155
4
24
38
8
714
33
7
8
9
10
11
12
13
14
15
16
17
18
Belgium and Luxembourg
France
_ _ _ _
Germany
Italy
Netherlands
_
__
Other Western Europe
Denmark
Norway
Spain
Sweden _
Switzerland
Other 4
19
Japan
20
Australia, New Zealand, and South Africa
__
_
(**)
(**)
(*)
(*)
19
(*)
(**)
(**)
(*)
(*)
24
(*)
°1
6
405
522
3
99
21
1,218
447
639
5
101
25
3,508
446
787
1,830
3
257
185
3,854
479
836
2,029
4
306
200
124
37
96
748
37
39
2,936
163
755
395
-1
84
(**)
(**)
158
1,567
89
374
156
39
112
814
36
28
1,050
-
(*)
(*)
21
22
23
Australia
New Zealand
« South Africa
2,652
160
696
365
(*)
81
(**)
<*&
1,412
85
333
24
Less developed countries
18,753
2,291
7,496
4,697
3
(*)
(*)
774
1,671
1,825
20,000
2,321
7,830
5,167
4
(*)
(*)
794
1,787
2,101
13,101
1,930
3,680
4,005
685
1,345
1,456
13,811
1,922
3,722
4,347
695
1,406
1,720
3,014
3,711
628
1,251
1,019
11,667
1,346
3,079
4,077
620
1,308
1,236
44
214
151
(**)
**83
323
(**)
1,780
169
1,003
58
104
730
1,022
66
195
96
382
56
27
53
131
(**)
27
(**)
29
22
18
50
180
340
42
57
197
39
58
51
258
29
101
235
162
369
75
271
26
101
188
143
1,631
1,071
630
1,244
1,633
846
684
704
2,668
554
136
19
8
(**)
99
452
(**)
443
35
239
154
28
56
129
Qi
190
1,108
90
113
789
1,112
65
220
97
416
67
18
55
191
345
43
68
188
41
63
59
276
33
133
322
182
387
108
288
30
106
186
159
25
Latin American Republics and other Western Hemisphere
26
Latin American Republics
11, 033
1,410
27
28
29
30
31
32
33
34
35
36
Mexico
Panama
Other Central America
Argentina
Brazil
Chile
Colombia
Peru _
Venezuela
Other 6
1,466
919
595
1,156
1,484
962
632
692
2,627
499
112
19
6
(**)
81
586
(**)
421
5
Other Western Hemisphere 7
(M
k
(
lo
(
'3o
(**)
342
( )
" 25
(
'\
(*)
2,068
519
667
293
58
94
436
2,144
576
643
270
74
98
484
38
Other Africa 8
1,978
314
1,407
70
4
67
117
2,215
343
1,598
80
5
71
118
39
40
41
Liberia
Libya
Other .
174
662
1,142
(**)
(**)
243
(**)
(**)
766
(**)
(**)
68
24
6
38
150
656
20
172
775
1,268
(**)
(**)
275
(**)
(**)
843
(**)
(**)
79
8
24
6
41
148
769
21
42
Middle East 9
1,805
3
1,656
63
20
56
1,829
3
1,654
80
8
28
56
660
86
282
207
143
270
247
1
43
42
44
97
140
105
332
680
1
193
37
43
44
45
46
47
Other Asia and Pacific
India. _
Philippines
Other
.
International, unallocated
1,869
281
673
915
2,731
44
(**)
(**)
(**)
753
(**)
(**)
(**)
1,469
r
Revised.
* Preliminary.
*Less than $500,000±.
"""Combined in other industries.
1. The value of investments in specified industries and countries is affected by capital
flows among foreign affiliates as shown in table 7.
2. Does not mean that all countries grouped in an "other" or regional category have U.S.
(**)
(**)
7
559
78
239
196
2,145
132
238
190
1
39
37
41
91
107
106
305
581
294
741
1,110
1,201
1
61
3,061
53
(**)
(**)
(**)
856
(**)
(**)
(**)
1,708
(**)
(**)
1,159
direct investment at any given time.
3. Direct investment statistics do not show any investments in Eastern Europe,
4. Includes Austria, Cyprus, Finland, Gibraltar, Greece, Greenland, Iceland, Ireland,
Malta, Portugal, Turkey, and Yugoslavia.
SURVEY OF CUREENT BUSINESS
October 1970
The developed countries accounted
for $2.6 billion of the 1969 increase in
manufacturing, with Western Europe
receiving about $1.4 billion. European
machinery industries, electrical and
nonelectrical, were major recipients of
capital outflows for manufacturing direct investments in 1969 (table 10).
Investment in German manufacturing
affiliates rose nearly $0.5 billion, of
which reinvested earnings contributed
$0.3 billion. There were large flows of
funds to German subsidiaries from
parents early in the year, but after the
mark revaluation and before the end of
the year, most of the funds were returned to the United States. Common
Market countries other than Germany
had an increase in investment of nearly
$0.5 billion, more than double the rise
29
in 1968. In the United Kingdom investment was up $0.3 billion during
1969, with the bulk of the increase
from reinvested earnings. Investment
in manufacturing enterprises in "other
Western Europe" increased by only
$0.2 billion as losses incurred in the
start up of new petrochemical and
other manufacturing plants in Spain
limited the growth in reinvested
earnings.
Selected Data Items, Countries, and Industries
of dollars]
B. — Net capital outflows
C.— U.S. share in reinvested earnings
of foreign corporations
1969 P
1968'
D.— Earnings
1969 v
1968'
E. —Income
1969 P
1968'
MinManMinManMinManTotal Total ing & Petro- ufac- Other Total Total ing & Petro- ufac- Other Total Total ing & Petro- ufac- Other
smelt- leum turing
smelt- leum turing
smelt- leum turing
ing
ing
ing
3,209
3,070
52
1,022
1,122
873
2,175
2,532
168
-59
1,901
522
7,022
844
7,955
2,494
1969 P
1968'
3,185
1,432
Line
ManMinTotal Total ing* Petro- ufac- Other
smelt- leum turing
ing
4,973
5,639
664
2,635
1,325
1,014
1
1,873
1,993
75
432
909
578
1,491
2,083
96
-52
1,627
412
3,347
3,971
330
76
2,633
931
1,976
2,067
224
199
1,042
600
2
625
619
50
178
231
161
772
937
77
95
599
166
1,490
1,542
233
223
806
280
851
762
152
152
255
202
3
1,001
1,158
6
204
577
372
456
845
5
-198
820
218
1,369
1,855
10
1,462
579
905
1,026
5
35
632
354
4
363
284
(**)
40
106
139
211
151
-41
169
24
503
488
(*)
426
121
275
327
(*)
2
233
92
5
438
648
(**)
128
378
143
108
455
(**)
549
53
543
888
(**)
878
140
434
453
(**)
29
336
88
6
78
-27
242
28
118
102
83
231
109
123
(**)
(**)
(**)
(*)
32
-1
41
15
40
10
74
156
82
55
60
9
33
11
28
26
20
53
5
4
76
84
239
28
28
(**)
(**)
(**)
-24
3
-77
-35
-15
70
82
300
51
46
29
i
16
12
-4
89
91
258
49
56
135
175
467
70
41
R
(**)
-22
16
-59
-36
-27
93
153
487
84
60
63
6
40
22
8
57
65
208
43
61
54
92
234
42
30
-3
12
32
-1
-12
24
71
178
34
30
33
8
24
10
12
7
8
9
10
11
200
226
(**)
36
93
97
136
239
(**)
(**)
-8
159
328
196
246
(**)
4
63
179
12
-63
12
106
89
12
45
53
9
-10
79
43
51
(*)
(**)
(**)
45
3
-18
31
-34
9
4
5
5
37
7
35
3
2
4
11
70
8
-6
6
3
-11
102
42
4
13
7
11
133
71
-8
-10
3
-8
-3
17
9
6
-2
12
76
58
10
13
21
21
217
45
7
-8
17
29
105
46
8
-3
15
17
157
52
(**)
(**)
-2
-8
3
(*)
(**)
11
4
1
9
9
31
8
6
5
3
8
125
33
13
14
15
16
17
18
27
32
4
104
105
19
142
19
60
70
19
23
69
41
159
196
18
120
12
26
(**)
-147
-196
-59
-129
(**)
R
-9
101
146
323
479
-5
-1
-1
-8
-3
8
5
5
-11
5
46
51
4
9
18
14
89
13
-3
-1
19
17
205
86
11
9
22
25
291
120
15
85
5
167
181
7
49
13
19
14
36
123
23
321
393
87
30
223
53
160
209
67
5
106
31
20
138
9
50
12
(**)
(**)
(**)
86
6
31
39
3
17
195
14
111
247
19
127
50
(*)
36
(**)
(**)
('*)
162
12
48
34
7
43
85
2
74
131
10
68
37
(*)
29
(**)
(**)
(**)
84
6
16
10
4
22
21
22
23
(**)
(**)
(**)
(**)
(**)
(**)
78
63
169
153
161
1
6
152
-5
6
(
1
(**)
(**)
<*')
70
-2
1
63
-2
3
1,146
760
-23
347
213
222
495
500
72
-7
273
162
3,444
3,747
513
2,287
552
395
2,948
3,273
439
2,298
284
253
24
677
345
-31
56
132
187
358
376
42
-15
225
123
1,574
1,634
449
462
457
266
1,218
1,277
404
472
237
164
25
477
271
-87
57
158
93
13
(t)
84
36
2
61 (**)
64
(**)
-137 -142
36 (
1
-20
53
-11
21
3
63
72
24
36
80
79
34
24
26
40
1,355
1,401
334
412
438
218
1,049
1,049
287
395
226
140
26
132
97
39
126
160
155
17
104
490
36
141
121
26
139
157
162
34
119
465
38
18
3
(**)
(**)
141
(**)
104
104
32
1
91
123
-3
18
7
57
6
15
80
25
48
12
24
4
8
74
11
67
58
35
94
75
144
16
95
430
34
74
79
29
115
66
114
20
108
401
42
2
4
-4
*?4
4
9
-3
(**)
21
(**)
11
(**)
334
7
6
-14
4
30
(*)
2
3
16
3
6
26
6
'&
12
62
26
47
9
10
2
2
48
6
27
28
29
30
31
32
33
34
35
36
22
59
14
1
-26
12
28
219
233
116
50
19
48
169
228
116
78
10
24
37
4
-5
51
67
29
21
7
10
568
681
67
577
9
28
519
616
39
558
2
18
38
-7
107
5
5
11
35
3
6
58
(**)
(**)
29
(**)
(**)
20
3
6
2
20
506
42
17
611
52
(**)
(**)
57
(**)
(**)
-27
17
611
13
15
496
9
15
606
-4
(**)
(**)
28
(**)
(**)
-46
(**)
(**)
2
15
606
12
39
40
41
(*)
-45
2
3
1,091
1,153
(*)
1,133
5
15
1,070
1,196
42
32
39
26
211
279
115
81
86
141
184
7
6
25
3
19
37
21
55
135
27
65
187
21
24
36
7
41
151
11
34
95
14
38
133
-52
231
237
106
48
298
-7
107
69
(**)
(**)
(**)
57
316
96
52
19
-2
28
65
1
10
3
33
4
45
-8
203
106
191
213
1
5
1
(**)
15
-26
170
3
41
131
11
11
-1
(*)
7
24
96
42
69
55
-1
30
83
43
14
11
61
-3
56
169
71
362
63
47
6
35
74
3
1
9
56
3
"\
<'.?,
"\
302
175
299
(**)
17
(**)
-9
35
(
74
40
143
42
49
12
52
20
11
35
26
32
30
1
3
13
6
-2 -18
-11
(4)
14
7
54
14
3
68
53
-4
9
4
23
2
200
127
2
r>
3
(*)
8
(**)
(**)
(**)
(**)
50
15
6
23
-40
71
62
34
63
97
4
24
34
-1
17
97
7
15
41
10
26
61
73
188
-52
(**)
(**)
(**)
243
(**)
(**)
26
(**)2
(**)
1
(**)
(**)
r)
2
(
**>2
(**)
(**)
(**)
(*)
(**)
(**)
5. Includes Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua.
6. Includes Bolivia, Dominican Republic, Ecuador, Haiti, Paraguay, and Uruguay.
7. Includes all of the Western Hemisphere except Canada and the 19 Latin American
Republics included in line 26.
(
-3
(**)
(**)
(**)
(**)
(**)
132
(**)
'"I
3
(**)
(
"\
*A <*?0
<% (
(
(
*?3
-4
(**)
(**)
1,181
3
12
87
42
59
43
11
16
14
2
22
119
44
45
46
161
47
(**)
(**)
(**)
137
8. Includes United Arab Republic (Egypt) and all other countries in Africa except South
Africa.
9. Includes Bahrain, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Qatar, Saudi Arabia,
Southern Yemen, Syria, Trucial States, Oman, and Yemen.
SURVEY OF CURRENT BUSINESS
30
Table 7.—Net Capital Flows Between
Primary and Secondary Foreign Affiliates
[Millions of dollars; net inflow (-)]
1965
Canada
Europe
-
France
Germany
Italy
Switzerland
United Kingdom
Other .
Latin American Republics
and other Western
Hemisphere
Argentina
Mexico
Panama
Other
- ---
Other countries
1966
1967
1968
1969 *
7
—8
16
1
i
43
30
10
-5
2
22
-22
—9
77
2
-22
—6
—7
28
47
—16
6
—3
13
30
—15
-21
—3
—2
8
—11
4
-1
—19
6
11
6
-28
26
— 16
-8
-6
-20
6
-8
—5
-5
8
—6
4
2
7
— 19
—1
3
10
-32
-3
1
-2
10
3
-1
-13
3
-27
-40
9
(*)
-1
» Preliminary.
* Less than $500,000±.
The value of manufacturing enterprises in the less developed countries
increased by only $0.5 billion in 1969,
with the bulk of the rise going to the
Latin American Republics.
Petroleum. Investment in petroleum
affiliates amounted to $20.0 billion at
the end of 1969, an increase of $1.1 billion from 1968. This increase was significantly smaller than the $1.5 billion
rise in 1968, and reflected smaller capital outflows and an adverse shift in
reinvested earnings. During 1969, in
fact, petroleum companies actually reported negative reinvested earnings of
Table
8.—Acquisitions
and
Sales
by
American Companies of Foreign Enterl
prises by Area and Industry
[Millions of dollars]
Area and
industry
All areas
Petroleum
Manufacturing.
Other industries
Canada
.. ...
Petroleum
Manufacturing.
Other industries
Europe - .
Petroleum
Manufacturing.
Other industries
Other areas
Petroleum
Manufacturing.
Other industries
1968
1969
Acqui- Sales Net Acqui- Sales
sitions
sitions
Net
800
220
580
805
163
642
33
650
117
11
141
68
22
508
49
31
543
231
(*)
90
73
31
453
158
137
3
40
182
135
222
8
100 ""(*)"
2
29
8
100
26
28
142 "~27~
52
13
516
145
371
466
50
416
5
464
47
1
127
17
4
336
30
(*)
329
137
(*)
37
13
(*)
292
124
147
72
75
116
73
43
20
86
41
10
14
49
10
72
-8
2
72
41
(*)
26
47
2
47
-6
28
114
40
* Less than $500,000.
1. Includes acquisitions and sales of minority interests.
$59 million, compared with positive reinvested earnings of over $0.2 billion
in 1968. Disinvestment resulting from
repatriating earnings in excess of current earnings was particularly noticeable in the case of certain tanker
affiliates of oil companies, and in the
Middle East. The increase in book
value of petroleum industry investments in the developed countries accounted for $525 million of last year's
$1.5 billion increase, while the less developed countries received $334 million;
petroleum affiliates in the international,
unallocated category (which is not included in either of the preceding two
categories) accounted for the remaining
$239 million.
The increase in book value of Canadian petroleum affiliates in 1969 was
almost $0.3 billion, about the same as
in 1968. The value of investments in
European petroleum enterprises increased by less than $0.2 billion in 1969
as capital outflows dropped to $0.2 billion. Earnings were negative (more so
than in 1968) which resulted in negative reinvestment of $0.2 billion; however this was largely offset by positive
valuation adjustments.
The $334 million rise in book value
of petroleum investments in less developed countries was less than half
the 1968 increase. The increase in
investment in African petroleum affiliates was limited by a large fourth
quarter build up of accounts payable
by U.S. companies to their producing
branches, especially in Libya. Investment in Middle East petroleum enterprises was practically unchanged from
1968 as larger capital outflows for the
year were offset by negative reinvested
earnings.
The increase of investment in international tanker affiliates was slightly
less than in 1968. The financing of new
super tanker purchases attracted large
capital outflows, but larger than usual
dividend payments by several companies led to negligible reinvested
earnings.
Mining and smelting. U.S. direct investment in foreign mining enterprises
increased by $0.2 billion during 1969,
much less than the rise in 1968. Reinvested earnings were the same each
year, at about $150 million, while
October 1970
capital outflows declined from $0.4
billion in 1968 to less than $0.1 billion
in 1969. The involuntary sale of 51
percent ownership in two Chilean mining ventures reduced investment by
over $0.2 billion. Even excluding these
transactions the rise in investment
would have been less than in 1968 due
to the fact that some important investment projects in Australia were
completed.
C H A R T 11
Earnings of Foreign Affiliates
Billion $ (ratio scale)
10
BY INDUSTRY GROUP
8 -
TOTAL
\
6 ~
Manufacturing
Petroleum
\
Other
MANUFACTURING AFFILIATES
Other
.2 I
1960
I
I
I
62
I
I
64
I
I
66
U.S. Department of Commerce, Office of Business Economics
I
I
68
I
70
70-10-
SUEVEY OF CUREENT BUSINESS
October 1970
Transportation and public utilities.
(Formerly public utilities; there has
been no change in the composition of
this category.) The $2.7 billion book
value of U.S. investments in the transportation and public utilities industries
at the end of 1969 was essentially
unchanged from 1968, as a small capital
31
outflow was offset by negative reinvested earnings. Capital outflows declined from 1968 to 1969; flows were
enlarged in 1968 by security issues in
Table 9.—Selected Data on Direct Investments Abroad, by Major Areas
[Millions of dollars]
Book value at yearend
Mining
Area and year
Total
Net capital outflows
Earnings
Income
smelt-
Petroleum
Mining
ManuMining
ManuManuMining
Manufactur- Other Total
&
Petro- factur- Other Total
&
Petro- factur- Other Total
&
Petro- factur- Other
smelt- leum
ing
ing
smelt- leum
ing
ing
smelt- leum
ing
ing
ing
&
ing
All areas:
1960
1961
1962 . . .
1963
1964
1965
1966
1967
1968
1969
31, 865
34, 717
37, 276
40, 736
44, 480
49, 474
54, 799
59, 491
64, 983
70, 763
2,997
3,094
3,244
3,419
3,665
3,931
4,365
4,876
5,435
5,635
10, 810
12, 190
12, 725
13, 652
14, 328
15, 298
16, 222
17, 399
18, 887
19, 985
11, 051
11,997
13, 250
14, 937
16, 935
19, 339
22, 078
24, 172
26, 414
29, 450
7,007
7,436
8,057
8,728
9,552
10,906
12, 134
13, 044
14, 248
15, 693
1,674
1,599
1,654
1,976
2,328
3,468
3,661
3,137
3,209
3,070
155
70
97
85
136
138
305
330
440
52
452
793
606
828
760
977
885
1,069
1,231
1,022
801
462
712
774
1,034
1,525
1,752
1,234
945
1,122
266
274
239
289
398
828
718
504
592
873
3,566
3,815
4,235
4,587
5,071
5,460
5,702
6,034
7,022
7,955
394
362
372
388
512
571
659
746
795
844
1,302
1,476
1,695
1,824
1,808
1,830
1,868
2,120
2,449
2,494
1,176
1,203
1,307
1,541
1,852
2,022
2,104
2,055
2,519
3,185
694
774
861
834
899
1,037
1,071
1,112
1,259
1,432
2,355
2,768
3,044
3,129
3,674
3,963
4,045
4,518
4,973
5,639
337
297
318
321
403
442
524
596
644
664
1,150
1,336
1,565
1,715
1,856
1,799
1,781
1,989
2,271
2,635
550
722
746
656
893
1,094
1,116
1,193
1,265
1,325
318
413
415
437
522
628
624
740
793
1,014
Canada:
1960
1961
1962 .._
1963
1964
1965 . .
1966
1967
1968
1969
11,179
11, 602
12, 133
13, 044
13,855
15, 318
17, 017
18, 102
19, 535
21, 075
1,325
1,367
1,489
1,549
1,713
1,851
2,089
2,342
2,638
2,764
2,664
2,828
2,875
3,134
3,196
3,356
3,608
3,819
4,094
4,359
4,827
5,076
5,312
5,761
6,198
6,872
7,692
8,095
8,568
9,389
2,363
2,331
2,457
2,600
2,748
3,239
3,628
3,847
4,235
4,563
451
302
314
365
298
962
1,153
408
625
619
199
9
85
7
91
51
172
173
195
50
135
100
159
188
25
179
155
115
169
178
29
117
12
120
140
395
566
20
26
231
88
76
58
50
42
337
260
100
236
161
718
726
825
948
,106
,209
,237
,327
,490
,542
88
96
97
127
191
198
191
240
275
233
98
114
121
149
170
183
196
207
243
223
398
360
460
525
565
606
628
613
672
806
134
156
147
147
180
222
222
267
300
280
361
464
476
455
634
703
756
790
851
762
47
51
60
80
118
110
120
154
169
152
60
78
79
80
118
122
112
132
160
152
176
213
221
192
269
315
354
296
301
255
78
122
116
103
129
156
170
208
221
202
6,691
7,742
8,930
10, 340
12, 129
13, 985
16, 234
17, 926
19, 407
21,554
49
48
50
55
56
54
54
61
61
72
1,763
2,152
2,385
2,776
3,122
3,427
4,003
4,423
4,636
4,805
3,804
4,255
4,883
5,634
6,587
7,606
8,879
9,798
10, 796
12, 225
1,075
1,287
1,612
1,875
2,364
2,898
3,297
3,645
3,914
4,453
962
724
868
924
1,388
1,479
1,834
1,458
1,001
1,158
273*
376
229
362
414
342
657
523
317
204
607
233
453
395
619
760
899
683
562
577
82
115
183
166
353
378
277
244
123
372
769
837
844
996
1,115
1,176
1,161
1,143
1,369
1,855
10
8
5
4
4
8
10
6
8
10
91
63
60
67
8
-41
-79
-99
-137
-196
487
530
496
627
782
859
860
847
1,041
1,462
181
236
283
298
321
350
370
388
457
579
397
486
526
507
659
768
729
849
905
1,026
11
9
7
6
5
8
11
7
6
5
55
47
63
73
64
17
4
6
1
35
241
326
334
305
427
532
489
561
582
632
90
104
122
123
163
211
225
275
316
354
125
158
198
260
315
321
331
347
405
447
91
103
122
145
207
275
334
425
522
639
38
41
52
67
77
79
91
98
123
132
18
29
54
68
78
19
32
34
78
63
9
23
41
55
51
-3
-1
(*)
46
27
7
7
9
12
23
21
22
31
11
32
3
-1
4
1
4
2
11
3
21
4
32
34
33
49
59
91
91
123
167
181
14
13
5
11
4
14
16
21
20
19
8
10
12
28
41
55
56
85
127
142
10
11
16
10
15
22
19
16
20
19
15
15
19
21
30
47
43
46
60
70
5
3
7
7
8
9
8
9
8
7
4
5
4
7
8
17
18
22
37
49
6
7
9
8
14
21
17
15
15
13
Europe:
I960
1961
1962
1963
1964
1965
1966
1967
1968.
1969
.
.-.
(*)
(
\1
2
-1
1
7
-2
6
Japan :
1960
1961 _
1962
1963
1964
1965_ . .
1966
1967
1968 _
1969
254
302
373
472
598
675
756
870
1,050
1 218
Australia, New Zealand,
and South Africa:
1960
1961
1962 _
1963 _
1964
1965 _
1966
1967 _
1968
1969__
1,195
1,331
1,539
1,783
2,053
2,334
2,655
3,172
3,508
3,854
79
88
107
145
168
227
324
419
446
479
373
433
483
527
570
616
646
720
787
836
602
636
742
881
1,053
1,185
1,332
1,640
1,830
2,029
141
176
206
229
263
305
354
394
445
510
23
89
127
109
137
175
167
364
171
153
-6
3
7
12
11
57
77
70
22
19
-6
42
24
26
31
43
11
48
40
23
24
20
79
61
64
48
65
223
83
69
11
24
16
9
32
27
13
23
26
41
162
151
196
226
229
246
292
299
320
393
25
21
20
21
30
42
63
66
64
87
22
19
2820
10
11
22
18
18
30
101
89
129
155
168
157
161
176
192
223
14
22
20
29
22
36
46
38
46
53
71
103
107
97
106
140
138
138
161
209
18
14
13
13
18
36
39
38
55
67
-1
2
-5
3
4
6
3
-5
-2
5
45
78
87
65
65
79
79
83
82
106
8
11
13
16
19
19
17
22
26
31
8,365
9,239
9,524
9,941
10,254
10,886
11, 498
12,049
13, 101
13,810
,319
,332
,321
,353
,404
,474
,565
,709
,930
1,922
3,122
3,674
3,642
3,636
3,589
3,546
3,475
3,473
3,680
3,722
1,521
1,707
1,944
2,213
2,507
2,945
3,318
3,586
4, 005
4,347
2,403
2,526
2,617
2,739
2,754
2,921
3,141
3,282
3,486
3,821
149
219
29
235
113
271
307
296
677
344
-60
32
-13
24
30
43
60
71
227
-31
24
63
-67
5
7
-74
-37
-66
177
56
125
78
133
150
137
245
160
199
222
132
60
46
-24
56
-61
57
125
92
50
187
970
1,079
1,179
1,125
244
1,320
1,452
1,398
1,574
1,634
224
206
230
219
266
290
359
397
392
449
370
478
543
532
539
513
512
519
531
462
147
172
173
171
243
289
342
269
408
457
229
223
233
203
196
228
239
213
243
266
719
824
891
956
1,011
995
1,113
1,190
1,218
1,277
234
198
221
210
245
266
327
365
374
404
331
438
488
544
531
476
499
480
489
472
64
75
71
70
98
123
147
195
216
237
90
113
111
132
137
130
140
151
139
164
4,181
4,501
4,777
5,156
5,591
6,276
6,640
7,372
8,383
9,250
225
259
277
317
324
325
334
346
360
398
2,763
2,945
3,142
3,319
3,536
4,032
4,159
4,617
5,285
5,816
206
220
247
303
383
456
524
629
693
821
987
1,075
1,113
1,218
1,346
1,464
1,622
1,779
2,046
2,215
71
236
262
275
312
562
167
578
657
732
22
26
15
41
2
-12
-5
9
-1
8
17
189
220
192
232
490
100
448
482
534
9
7
26
36
50
56
41
77
40
81
22
14
2
7
28
27
33
43
136
108
915
988
1,158
1,243
1,318
1,418
1,469
1,745
2,102
2,349
47
31
20
17
21
33
36
36
55
64
707
789
938
1,045
1,077
1,150
1,201
1,455
1,774
1,957
35
42
37
35
53
56
57
66
79
95
126
127
162
147
165
179
175
189
194
235
792
876
1,025
1,093
1,234
1,310
1,266
1,505
1,777
2,294
27
25
17
12
17
22
27
32
41
36
700
768
933
,008
,131
,169
,155
,367
,614
1,963
20
25
29
17
26
28
29
36
48
47
46
56
44
55
60
91
55
69
74
250
Latin American Republics
and other \\ estern
Hemisphere:
1960
1961
1962 __
1963
1964
1965 __
1966
1967
1968.. .
1969
Other areas:
1960
1961
1962. _
1963
1964
1965.
1966__ .
1967
1968 _
1969
...
* Less than $500,000 (±).
32
the United States by a U.S.-owned
Canadian gas transmission compay.
Negative reinvested earnings in 1969
were mostly the result of a large
dividend payment by an international
shipping company to the U.S. parent
out of accumulated earnings of previous
years.
Tirade and other industries. U.S.
direct investment in trade and "other"
industries increased $1.4 billion last
year, up from a rise of $0.9 billion in
1968. In developed countries the 1969
rise was $0.9 billion. Investment in
European trade and "other" industries
grew by over $0.5 billion; this was about
double the 1968 increase and reflected
the need for funds both to finance recievables and inventories of trading
companies and for the acquisition of
banking, financial and service companies. The book value of U.S. investment in trade and "other" industries
in the less developed countries increased
by $392 million with $325 million going
to the Latin American Eepublics and
other Western Hemisphere countries.
In the less developed countries, U.S.
investment in agricultural enterprises
and trading companies accounted for
about one-third of the increase while
most of the remainder went to service
and finance enterprises.
Earnings
Earnings (not adjusted) on U.S.
direct investments abroad in 1969 were
nearly $8.0 billion, up $0.9 billion over
1968 (table 6D, chart 11). U.S. equity
in the earnings of affiliates in the less
developed countries increased moderately to more than $3.7 billion in 1969,
while earnings in the developed countries increased sharply to $4.0 billion.
Earnings of the international, unallocated category were $0.2 billion in both
years.
As a result of the continuing climb
in earnings, the rate of return on all
U.S. foreign direct investments rose to
13.0 percent in 1969, higher than any
year in the 1960's during which the
average annual yield was 12.6 percent
(chart 12). For all industries combined,
yields in the less developed countries
were consistently higher than those in
the developed countries. However, most
of this difference reflected the structure
SUEVEY OF CUEKENT BUSINESS
of the earnings distribution of petroleum
affiliates; earnings in petroleum producing countries are consistently reported as higher than those in developed
consuming countries. When rates of
return on manufacturing are compared,
yields in the two areas are about the
same. In 1969, the rate of return on
manufacturing investments was 12.7
percent in the less developed countries
and 12.9 percent in the developed
countries; for the decade, the annual
average return on manufacturing investments in each area was 11.8 percent.
With the rise in the rate of return on
manufacturing investments abroad to
12.8 percent in J969, the rate of return
of 12.6 percent on comparable domestic
investments 2 was exceeded for the first
2 Petroleum investments are excluded both from manufacturing abroad and from domestic manufacturing. While the
rates of return are calculated somewhat differently (see
chart 12), the comparison made is probably the most
appropriate one.
October 1970
time in a number of years. Over the past
ten years yields on domestic investments averaged 12.4 percent, only
slightly higher than the 11.8 percent
average on direct investments abroad.
Their movements over the years, however, have been significantly different,
partly reflecting cyclical factors. Domestic yields were lower than yields
abroad in the early 1960's reflecting
lower profits associated with the domestic recession early in the decade.
As the recovery progressed domestic
yields surpassed those on foreign investments and reached a peak of 14.7
percent in 1966; during that year the
return on foreign manufacturing investments was only 11.5 percent.
The gap was gradually closed during
the next few years when economic
expansion abroad was particularly
strong. In 1969, the return on foreign
investments continued to rise while
Table 10.—Net Capital Outflows to Manufacturing Affiliates by Industry
[Millions of dollars]
Area and year
Manufacturing
total
Food
products
Paper
and
allied
products
Chemicals
and
allied
products
Rubber
products
116
108
84
100
124
99
151
68
—7
— 11
292
503
428
293
157
16
19
25
4
9
18
17
63
126
48
— 16
All areas :
1965
1966
1967.1968r
1969P
1 525
1,752
1,234
Canada :
1965 .
1966
1967r
1968
1969 P
395
566
20
26
231
— 10
21
52
—45
70
90
68
21
—2
Europe :
1965
1966
1967r
1968
1969P ...
761
899
683
562
577
41
51
65
50
54
13
22
11
9
28
97
280
201
164
101
2
1
1
1
2
945
1,122
Japan :
1965
1966
1967
1968*1969P
21
22
13
11
32
(*)
2
(*)
(*)
Australia, New Zealand and
South Africa :
1965
1966
1967
1968r
1969 P
48
65
224
83
69
8
23
5
10
12
Latin American Republics and
Other Western Hemisphere:
1965
1966
...
1967 r
1968
1969P
.
245
160
198
222
132
55
40
95
40
81
Other areas:
1965
1966
1967 r
1968 . .
1969 P
r
Revised.
.
v Preliminary.
(*)
5
(*)
7
12
8
PriTransMamary chinery Electri- porta- Other
except cal ma- tion indusand
fabri- electri- chinery equip- tries
cated
ment
cal
metals
84
134
286
215
116
71
177
-2
7
—8
9
7
24
-23
29
15
27
32
2
(*)
2
16
2
—1
(*)
60
75
100
95
63
240
157
65
68
109
1
1
1
1
11
2
4
1
-10
-8
5
(*)
(*)
(*)
(*)
242
160
135
51
96
134
115
—2
210
405
317
50
1
88
131
170
108
326
232
13
29
61
173
246
-73
-91
38
20
5
1
70
53
53
84
108
-28
111
176
91
82
23
-2
78
124
49
181
112
(*)
(*)
(*)
^
7
12
(*)
(*)
2
(*)
5
5
3
3
1
4
11
—1
17
17
15
25
18
12
-2
8
6
-8
-20
16
131
18
20
11
3
10
6
3
2
-3
1
10
3
17
2
44
10
2
-1
7
5
-1
20
51
11
12
12
1
19
(*)
3
-1
6
82
99
85
54
-4
-1
5
6
(*)
1
20
14
34
22
24
1
13
17
4
21
10
9
1
9
10
38
-22
-4
58
44
27
30
45
64
29
-3
6
10
7
5
1
1
1
21
17
50
16
36
-2
2
2
6
7
16
4
(*)
-6
3
5
5
21
2
3
11
4
4
6
20
3
3
4
—1
(*)
1
*Less than $500,000 (±).
1
(*)
2
2
1
4
(*)
7
7
7
SURVEY OF CURRENT BUSINESS
October 1970
domestic yields fell with the slowdown
in domestic growth.
While these cyclical developments no
doubt had a major influence on the
rates, other factors were also important.
New investments require a seasoning
period before they reach their normal
profitability. Since a larger portion of
manufacturing investment abroad is
new, compared with domestic manufacturing investment, this probably
contributed to holding the average rate
of return on investment abroad below
domestic rates. Barring adverse cyclical
developments or a surge in new investments, as the sizable amounts of
new investments made abroad in the
1960's pass from the initial startup
period—when costs are high and markets are being developed—to the "seasoned" stage, total earnings and the
rate of return should tend to improve.
The increased earnings in 1969 prin-
cipally reflected increases of $666 million in manufacturing industries and
$172 million in "other" industries;
mining and petroleum affiliates showed
increases of less than $50 million.
Earnings of manufacturing affiliates in Europe surged upward by 40
percent to $1,462 million, with Germany accounting for $224 million of
the increase. Earnings of manufacturing affiliates in Germany were almost
double the 1968 level, no doubt reflecting the strong growth there. In Canada,
manufacturing was the only industry
showing increased earnings in 1969
and accounted for $806 million of
total earnings of $1,542 million.
The U.S. share of earnings of petroleum affiliates in the developed countries dropped from $144 million in 1968
to $76 million in 1969. This was due to
higher costs for crude oil and products,
mostly as the result of increased tanker
CHART 12
Rates of Return1 on U.S. Direct Investments Abroad and
Domestic Manufacturing Excluding Petroleum
Percent
14
Developed Countries
22 -
Less Developed Countries
\
10 -
\
18 -
i
8
16 -
Less Developed Countries
I
i
i i i
i
I
i
t
16
U.S. Domestic
Excluding Petroleum
-
14 ~
-
12 •**
-
10 -
Developed Countries
\
10-\
I
1960
I
I
62
I
I
64
I
I
I
66
I
68
70
I
1960
I
I
62
1
i
64
t
I
66
I
1
68
70
1. Return on direct investments represents earnings plus interest (on intercompany accounts) applied to book value at beginning of year. Return on domestic
manufacturing represents net income applied to net worth at beginning of year (as computed by First National City Bank of New York).
2. Data in the direct investments category "international, unallocated" is included in the figures for all areas but excluded from the figures for developed and
less developed countries.
U.S. Department of Commerce, Office of Business Economics
costs, which eroded profits of refining
and marketing affiliates. European petroleum affiliates suffered particularly
high losses of $196 million in 1969,
reflecting not only the higher tanker
rates but also higher levels of exploration and development expenses in the
North Sea offshore ventures. Earnings
of petroleum affiliates in the less developed countries increased by $126 million
in 1969 despite a decline of $69 million
in earnings in the Latin American
Republics and other Western Hemisphere countries. Higher costs of production and large expenditures in
Ecuador and Colombia, for developing
producing fields and construction of
pipelines and other facilities, were the
major reasons for the decline in the
latter area. Petroleum earnings in the
other less developed countries increased
by $195 million to $1,825 million in
1969, reflecting increased production.
Even in these countries, however,
earnings were constrained by higher
taxes and other costs which were not
matched by increases in prices for crude
oil at the producing level.
Direct investment income
MANUFACTURING
ALL INDUSTRIES ABROAD
Percent
33
70-10
Income from direct investments
amounted to $5.6 billion in 1969, an
increase of over 13 percent from 1968;
this was about equal to the percentage
increase in earnings (table 6E). A
disporportionately large share of the
increased income—$250 million out of
$666 million—was from affiliates in the
international, unallocated category.
This is largely the result of unusually
large dividend payments by tanker
affiliates of oil companies. Developed
countries accounted for $91 million of
the total increase in income and less
developed countries $325 million.
Income includes net interest received
on intercompany accounts and on the
U.S. non-bank held portion of the foreign affiliates long-term debt. Interest
is not included in earnings because it
is deducted by affiliates as an expense
item. Income out of earnings amounted
to $5.2 billion in 1969, up by $580
million from 1968; net interest received
amounted to $481 million, an increase
of $86 million from 1968 and double the
1965 level of $230 million. Not all of the
increase in interest receipts represents
SURVEY OF CURRENT BUSINESS
34
a net gain to the U.S. balance of payments because U.S. companies have to
meet interest charges for capital raised
offshore which was relent to their
foreign affiliates.
Most of the increase in income from
manufacturing affiliates was the result
of additional interest receipts as most of
the $0.6 billion gain in earnings was
reinvested and not returned to the U.S.
as balance of payments income. Direct
investment income receipts from petroleum affiliates increased about $0.4
billion in 1969 and the $2.6 billion remitted as income slightly exceeded
1969 earnings.
October 1970
spent by the U.S. firms for research and
development of new products and
processes, as well as an allocation of the
administrative and other expenses incurred by parent companies on behalf
of their foreign affiliates. Foreign manufacturing affiliates contributed about
$0.9 billion, or 62 percent, of total receipts of royalties and fees, and European manufacturing affiliates accounted
for over half of this total.
Foreign Direct Investments in
the United States
During 1969 the value of foreign
direct investments in the United States
rose $1.0 billion to $11.8 billion at
yearend, following a $0.9 billion rise
in 1968 (tables 12 and 13). Capital
inflows ($832 million) and reinvested
earning ($431 million) tended to increase
investments by $1,263 million in 1969,
Direct investment royalties and fees
Royalties and fees received by U.S.
corporations from foreign affiliates have
grown sharply in recent years to nearly
$1.4 billion in 1969 (table 11). These
receipts from foreign affiliates represent
charges to cover a portion of the funds
Table 11.—Direct Investment Receipts of Royalties and Fees,1 by Areas and Major
Industries
[Millions of dollars]
1964
Area and industry
All areas
Petroleum
M anuf acturing
Trade
Other Industries
Canada
Petroleum .
Manufacturing.
Trade
Other industries
_
...
Europe
Common Market
Petroleum
.
Manufacturing
Trade
Other industries
.
..
_
.
Other Europe (including
United Kingdom)
Petroleum
Manufacturing
Trade
Other industries
. . .
Latin American Republics and
other Western Hemisphere
Petroleum
.
Manufacturing.
Trade
Other industries
Other areas
Petroleum
M anufacturing
Trade
Other industries
p Preliminary.
r
Revised
1968 '
1969 P
Royalties, license
fees and
rentals
Management
fees and
service
charges
1 246
522
724
160
801
112
174
15
435
43
29
145
366
69
145
261
77
15
195
16
34
(*)
69
6
1
159
66
511
269
(*)
79
4
1
8
48
2
8
155
13
g
109
15
23
1
50
6
6
148
32
Royalties,
license
fees and
rentals
Management
fees and
service
charges
1 369
641
729
191
853
131
194
30
510
76
25
161
343
56
169
184
268
92
176
15
126
10
33
19
186
15
48
1
82
6
4
19
105
8
44
294
173
217
96
588
299
381
215
207
84
23
206
27
12
(*)
161
8
3
23
45
19
9
22
241
22
14
1
194
16
5
21
47
6
9
93
242
121
121
289
165
123
8
59
9
17
20
179
16
27
2
97
12
10
18
82
4
17
26
204
38
21
3
122
34
6
23
82
4
15
36
112
226
73
153
239
74
165
2
33
3
39
11
32
119
27
47
39
32
25
6
2
56
9
5
30
7
64
17
34
30
140
40
99
248
51
55
11
22
9
21
4
6
42
34
7
16
68
101
26
53
Total
Royalties, license
fees and
rentals
Management
fees and
service
charges
756
264
492
116
479
58
103
13
210
22
19
103
269
36
84
162
41
121
15
124
9
14
(*)
35
3
3
15
89
6
11
306
150
147
84
g
127
6
9
* Less than $500,000
Total
Total
63
18
42
108
27
64
52
10
5
56
17
59
78
170
275
94
181
9
51
8
10
59
50
18
43
84
114
29
46
18
61
9
5
66
53
20
41
1. Excludes foreign film rentals.
but this was partially offset by a $260
rfiillion downward adjustment in the
value of assets held by foreign-owned
U.S. companies, primarily securities
held by insurance companies. In 1968,
capital inflows were much smaller but
valuation adjustments were favorable.
Capital inflows to the U.S. affiliates
in 1969 reflected new investments of
$538 million and other inflows—mostly
shifts in intercompany accounts—of
$294 million. New investments in manufacturing companies rose sharply while
those in petroleum companies declined.
In 1968 a foreign international petroleum company purchased more than
$200 million of stock in its U.S. subsidiary and there was no similar transaction in 1969. The rise in new investments in manufacturing was fairly
widespread, but investments by German parent companies in U.S. chemical
affiliates were particularly large.
Capital inflows other than new investments showed a $400 million favorable swing from an outflow of $107
million in 1968. Of this shift, $310
million was due to an increase in the
payables (liabilities) of U.S. companies
to their foreign parents in 1969. During
1968 transactions on inter-company
account had shown hardly any change.
Besides the shifts on inter-company
account, liquidation of direct investment assets in th^ United States resulted in outflows of only $17 million
in 1969 compared with $108 million in
1968; this represented a favorable shift
of $90 million.
Despite the increased investment in
the United States during 1969, earnings of foreign-owned companies declined slightly from $868 million in 1968
to $834 million in 1969. This decline
mainly reflected lower profits in the
petroleum industry. Earnings of domestic corporations, including those in
the petroleum industry, also fell in 1969.
Even though total earnings fell
slightly, income paid to foreign parent
organizations, primarily dividends on
common stock, rose to $417 million in
1969 from $388 million in 1968. The
lower earnings coupled with increased
dividend payments resulted in reinvested earnings of only $431 million in
1969, down $57 million from 1968.
October 1970
SURVEY OF CURRENT BUSINESS
U.S. Portfolio Investments
Abroad
The market value of foreign stocks
and bonds held by U.S. residents is
estimated at $18.7 billion at yearend
1969, an increase of $0.5 billion during
the year (table 2, lines, 7, 8, 9). Outflows of U.S. funds for purchases of
such securities totaled $1.5 billion during the year, but rising interest rates
and falling bond prices resulted in a
$1.0 billion decline in the value of outstanding holdings.
U.S. holdings of foreign bonds remained unchanged from end 1968 to
end 1969 at $11.7 billion. The reduction
in value due to a sharp drop in bond
prices was offset by net balance of payments outflows to acquire additional
bonds amounting to $1.0 billion. Outflows of U.S. funds to purchase new
foreign issues of bonds amounted to
$1.5 billion and were down slightly from
1968; issues by the World Bank and by
less developed countries declined, although new Canadian issues increased
35
(table 14). Inflows due to redemptions ing and in placements in the United
and to U.S. net sales of outstanding States.
bonds amounted to $0.5 billion.
In the first half of 1970 interest
The market value of U.S. holdings of rates in the United States continued
foreign stocks rose by nearly $0.5 bil- upward and foreign bond placements
lion to $7.0 billion at yearend 1969, fell to $518 million. A significant drop
largely due to $0.3 billion in net pur- in Canadian new issues, which was
chases of outstanding Japanese stocks concentrated in the second quarter,
plus $0.2 billion in purchases of new accounted for most of the decline;
issues (included in table 14); nearly half this tendency was reinforced by someof the new issues were Canadian oil what more favorable borrowing constocks. Price changes had little impact ditions in Canada.
on the value of outstanding holdings of
foreign stocks.
Foreign Portfolio Investments
The significant reduction in the
in the United States
Interest Equalization Tax in April
1969 apparently had little impact on
After an extraordinary $6.1 billion
foreign placements of securities in the increase in the market value of foreign
United States, as nearly all new issues portfolio assets in the United States in
actually placed were exempt. Esca- 1968, the value of such holdings delating domestic long-term interest rates clined by $0.8 billion in 1969 to $22.9
during the year were an important
billion at yearend (table 2, lines 29 and
factor in reducing foreign bond place30).
A $3.9 billion decline in the value of
ments in 1969, particularly by the
World Bank and less developed coun- outstanding securities due to declining
tries. In Canada, on the other hand, prices of both U.S. equities and bonds
demand pressures were quite strong, was only partly offset by $3.1 billion in
which led to increases in local borrow- capital inflows due to net purchases by
Table 12.—Foreign Direct Investments in the United States, Selected Data Items, Countries, and Industrie
[Millions of dollars]
Book value at yearend
Area and industry
1967
Total
1968'
1968'
1969 P
Total
New
invest-2
ments
Other
Total
New
investments 2
Other
1969 P
Income l
Earnings i
Net capital inflows
Reinvested
earnings l
1968 r
1969 P
1968 '
1969 P
r
1968
1969 *
9,923
10,815
11,818
319
426
-107
832
538
294
868
834
388
417
488
431
2,575
7,005
3,156
2,405
228
265
318
86
1,508
1,444
239
1,096
109
2,659
7,750
3,409
2,790
273
288
387
92
1,750
1,551
205
1,238
108
2,834
8,510
3,496
3,306
309
319
617
95
1,966
1,708
199
1,395
114
-26
297
114
212
25
10
34
2
141
-29
-74
51
-6
49
303
109
190
-75
-6
5
22
25
10
-18
2
3
-33
-74
47
-6
243
550
86
363
19
17
204
-2
125
101
-9
107
3
84
359
56
244
58
1
159
191
30
119
19
12
70
-2
20
42
-9
49
2
152
687
271
285
22
23
43
5
192
131
12
113
6
122
658
272
259
19
25
22
8
185
127
8
118
1
64
308
149
111
5
11
7
1
87
48
7
39
2
47
348
159
132
6
12
10
3
101
57
6
49
2
102
371
108
173
19
13
35
4
102
90
4
81
5
84
318
107
130
17
14
13
5
81
81
3
78
108
181
176
60
-14
-34
25
-59
26
41
15
9
13
192
43
182
43
193
105
-10
-2
-10
-2
11
62
8
62
3
1,885
2,261
4,181
4,475
848
938
3 2, 193 3 2, 305
(4)
(*)
836
816
2,493
5,344
959
3 2, 189
(*)
833
231
-23
32
5
47
27
19
-104
-35
5
-13
21
142
567
-41
66
13
85
15
401
23
By area:
Canada
Europe
United Kingdom
European Economic Community
Belgium and Luxembourg
France
., .
Germany
Italy
Netherlands
Other Western Europe
Sweden
Switzerland
Other . .
Japan
.
Latin American Republics and other Western
Hemisphere
Other
(t)
«
138
4
4
74
(*)
5
134
105
59
(*)
3
11
2
263
410
81
73
538
3
219
414
88
75
544
-6
(*)
(*)
12
1
(*)
2
(*)
29
(*)
(*)
By industry:
Petroleum
Manufacturing .
Trade
Insurance
Other finance
Other
.
212
81
67
r
Revised.
P Preliminary.
* Less than $500,000(±).
1. "Earnings" represents the foreign share in corporate and branch earnings; "income"
is the amount distributed to foreign owners, after withholding taxes, BS dividends, interest
and branch profits. See technical appendix for an explanation of the relation between income,
earnings, and reinvested earnings.
2. "New investments" consists of the first reported capital inflow to establish or acquire
60
6
14
85
127
166
-64
66
-1
109
137
25
73
528
16
124
149
21
75
536
12
143
280
57
90
276
62
13
-5
14
-11
a 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 has been
excluded from direct investment totals.
SUEVEY OF CUKRENT BUSINESS
36
October 1970
Table 13.—Value of Foreign Direct Investments in the United States by Major
Industry and Country—End of 1969
corporate stock were more than offset
by a $3.0 billion decline in stock values
due to price changes. In contrast, in
[Millions of dollars]
1968, net purchases were higher at $2.1
Insurbillion, and the value of outstanding
Petro- Manu- ance Trade
Total leum facturand
and
stock holdings appreciated by $2.0 biling
other other
finance
lion. During 1968 when stock prices in
the United States were rising, there
All areas
5,344
2,189 1,792
11,818 2,493
was a broad foreign interest in equities,
Canada .. 2,834
132
1 644
325
733
Europe _
8,510 2,322 3,530 1,766
892
and foreign investment funds, which
United Kingdom. 3,496
829
1,176 1,143
348
Netherlands
535
101
1,966 1,275
55
had
been organized in the preceding
Switzerland
1,026
1,395
323
46
Other
1,653
793
245
397
218
years, made very large purchases. The
Other areas
474
170
39
167
98
size of the U.S. market particularly
attracted the foreign investment funds
because trading in large blocks of stock
foreigners. In 1968, net purchases by could be conducted without substanforeigners accounted for $4.4 billion of tially affecting the price. In addition,
political
developments
the $6.1 billion increase in the value of unsettling
abroad,
such
as
the
invasion
of Czechforeign portfolio assets in the United
oslovakia
and
the
strikes
in
France
also
States. At the end of 1969 foreigners
encouraged
purchases
of
U.S.
stocks.
held $18.1 billion of U.S. stocks and
In 1969, the lower inflow was appar$4.8 billion of U.S. bonds.
ently related to the fact that U.S.
stock prices turned downward at the
Stocks
same time that other foreign share
The value of foreign held U.S. stocks prices, except those in the United
declined by $1.4 billion in 1969 as Kingdom, performed well. Also, Euro$1.6 billion of foreign net purchases of dollar rates rose to 11 percent during
1969 and provided an attractive alter-
Table 14.—Newly Issued Foreign Securities
Sold to U.S. Residents
[Millions of dollars]
Issuer
1967
Total*
Canada _ .
Central government
.
Provincial governmentguaranteed
Municipal authorities
Corporate issues
1968
1969
1970
(Jan.June
1,619 1,703 1 667
533
949 1,270
86
16
387
601
160
246
508
101
254
616
84
554
219
10
158
14
246
352
3
390
320
41
9
164
211
14
49
96
2
4
84
156
15
45
45
354
291
63
61
61
114
114
1,007
Japan
International organizations
Less developed countries
Other developed countries
Memorandum items:
New issues of corporate stock
included above
U.S. direct investment enterprises *
...
In Canada.
.
In less developed countries
In other developed countries
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.
native for funds that might otherwise
have been invested in U.S. equities.
As U.S. stock prices dropped precipituously in the first half of 1970,
foreigners made net sales of $0.2 billion.
The fact that sales were so small relative
to the $19.6 billion in outstanding
holdings at the end of 1969 suggests a
CHART 13
Yields on Bonds Placed Abroad by U.S.
Incorporated Companies Compared With
Yields on Corporate Bonds in the
United States
Table 15.—Foreign Security Placements by U.S.-Incorporated Companies, by Type
[Millions of dollars]
10
Dollars
Eurodollar
Nonconvertible
Moody's Aaa
Eurodollar Convertible
1965
I
I I
66
I
I I
67
I I I
68
U.S. Department of Commerce, Office of Business Economics
I
I
I I I
69
70
Deutsche
marks
Other
currencies
Swiss
francs
Dollars
67
20
47
55
75
55
75
1966
I
II
III
IV
161
55
51
10
45
56
1967
I
II
III
IV
225
60
75
70
20
15
1968
I
II
III
IV
278
90
15
75
98
277
1969
I
II
III
IV
207
85
226
63
14
108
88
75
1970*
I
II
286
106
180
1965*
III
IV
i i i
Convertible: Payable in—
Straight debt: Payable in—
Percent
Deutsche
marks
19
110
148
Total i
19'
2(
17
10
10
182
120
62
33
11
11
11
177
20
10
50
97
45(
9
11
13
11
94
12
41
14
27
1,540
494
526
406
114
2,18
59
60
60
38
77
27
14
36
500
232
95
87
86
190
59<
18
29J
3,
8(
180
25
31
15
Other
currencies
10
28
14
14
332
315
3 17
80
22
58
* Six-month total.
1. These amounts differ from balance of payments figures which are net of placement costs.
2. Payable In British sterling.
3. Payable in Dutch guilders.
4. Payable in Swiss francs.
244
244
*8
48
l,0fr
40
15
22
26
43
16
26
October 1970
SUEVEY OF CUEEENT BUSINESS
37
payments purposes, these issues are sumed to be repatriated to the United States
and thus are balance of payments flow items.
considered net purchases of U.S. obliga- To the extent that branch earnings are left
abroad they are implicitly entered as offtions by foreigners only to the extent setting
capital outflows.
that the finance subsidiaries transfer the
3. Earnings: Net earnings of foreign corBonds
plus net earnings of foreign branches.
proceeds to the U.S. parent. During porations
4. Gross dividends on common stock:
Foreign investments in U.S. bonds 1969, $283 million of such proceeds Dividends paid out by foreign corporations
before deduction of withholding taxes paid
rose $0.6 billion in 1969, compared with were transferred to U.S. parents for to
foreign governments.
5. Foreign withholding tax: A tax withheld
$2.1 billion in 1968. Inflows of funds either foreign or domestic use.
on the payment of dividends as distinguished
were $1.5 billion in 1969, down sharply
In the first half of 1970, international from
income taxes which are imposed on the
from the $2.3 billion inflow in 1968. In bond issues by U.S. corporations de- earnings of a business. Taxes are also withby the payor on payments of interest
addition, rising interest rates resulted clined further from 1969. Convertible held
and preferred dividends but both interest and
in a $1.0 billion reduction in the value issues were still depressed, and the very preferred dividends are reported to the Balof Payments Division on a net basis and,
of outstanding holdings, compared with tight market conditions encouraged ance
therefore, our data on withholding taxes relate
a reduction of only $0.2 billion in 1968. U.S. borrowers employing straight debt only to those on common stock dividends.
6. Dividends: Dividends on common or
The drop in foreign purchases of U.S- to reduce maturities to medium-term voting stock only, net of foreign withholding
bonds largely reflected economic and 5-year notes. Also, floating rate instru- taxes; dividends are included in income as
balance of payments flow items.
institutional factors affecting U.S. cor- ments were utilized by two U.S.
7. Preferred dividends: Dividends received
porate foreign borrowing. The large corporations, with the rate on the issues on perference or non-voting shares after
of any foreign withholding taxes.
increase in new issues of securities sold pegged to the 6 months Eurodollar deduction
Preferred dividends are included in income as
abroad by U.S. corporations in recent interbank rate with a minimum rate balance of payments flow items. Preferred
are treated like interest in these
years was partly in response to the clause. Such instruments are designed dividends
accounts even though on the foreign company's
Foreign Direct Investment Program. to avoid long-term commitments at books they are not charged as an expense.
8. Interest: The net interest received on
Under this program direct investments record high interest rates.
intercompany accounts or on long-term debt
In 1969, foreign transactions in of foreign affiliates held by the parent or other
by U.S. companies which are financed
U.S. investors, after deduction of
by funds raised abroad are not subject outstanding securities (including U.S. nonbank
any foreign withholding taxes. Interest is not
to restriction. In 1968, when the pro- Government agency bonds) somewhat included in earnings since it is deducted as an
expense item by the foreign firm, but, it is
gram first became mandatory, U.S. offset the decline in new issues. The included
in income as a balance of payments
corporations raised $2.1 billion from World Bank increased its net purchases flow item.
9. Income: The sum of dividends, preferred
bond placements with foreign investors. of U.S. agency bonds by $0.2 billion to dividends,
and interest received by or credited
In 1969, such issues fell, but they still $0.3 billion. Furthermore, foreigners to the account of the U.S. owner—all net
foreign withholding taxes—plus branch
amounted to $1.0 billion (table 15).
increased their purchases of other after
earnings after foreign taxes; all before U.S.
A sharp tightening in the Eurobond outstanding U.S. bonds from $30 mil- taxes.
10. Reinvested earnings: Net earnings of
market and national capital markets lion in 1968 to $182 million as U.S.foreign
corporations less gross dividends on
abroad was probably a major factor in bond yields moved substantially up- common stock.
11. Adjusted earnings: The benefits of
the 1969 decline in these issues ward. In the first half of 1970, net ownership
accruing to a U.S. foreign direct
(chart 13). In addition, the general purchases of agency bonds and of other investor after all foreign taxes, including withtaxes, have been paid; this is comweakness and uncertainty in U.S. outstanding U.S. bonds amounted to holding
prised of (1) funds returned to the United
stock markets made new bond issues $188 million and $178 million, States as income in the form of dividends, preferred dividends, branch profits, and interest,
convertible into U.S. stock at a fixed respectively.
plus (2) funds left abroad to increase the
price much less attractive to foreigners;
investor's equity in the foreign enterprise as a
reinvestment of earnings.
such offerings were reduced from $1.5
billion in 1968 to $0.5 billion in 1969
Technical Note
(table 15). The fact that U.S. corporThe various direct investment earnings
rations had nearly $1.0 billion of unused items,
including those shown in tables 6C,
proceeds of earlier borrowing at end D & E, are defined below and their derivation Derivation and relationship based on 1969
preliminary data
1968, may have also discouraged fur- and relationship to each other are detailed.
[Millions of dollars]
ther new issues in 1969.
Item and definition
1. Net earnings of foreign corporations. 5,381 reported
U.S. corporations continued to estab2. Net earnings of foreign branches
2,574 reported
1. Net earnings of foreign corporations:
3. Earnings
7,955 = 1+2
The U.S. parents' equity in the earnings of
lish Netherlands Antilles finance sub- their
foreign subsidiaries after provision for
4. Gross dividends (on common stock). 2,849 = 5+6
sidiaries during the year as means for foreign income taxes, preferred dividends, 5. Foreign withholding tax (on common stock)
282 reported
payments.
raising money in the Eurobond market. and2. interest
6. Dividends (on common stock)
2,567 = 4—5
Net earnings of foreign branches: The
(reported)
Tax considerations provided a major earnings of foreign branches of U.S. companies
7. Preferred dividends17 reported
after foreign income taxes, but before demotive for establishing such subsid- pletion
Interest
481 reported
charges and U.S. taxes. Included with 8.
9. Income
5,639 = 2+6+7+8
iaries. Security issues by these subsid- net earnings of branches are the U.S. share
2,532 = 1-4
the net earnings of foreign partnerships, 10. Reinvested earnings...
iaries usually carry the guarantee of the in
or 3-2-4
sole proprietorships and other types of foreign 11. Adjusted earnings...
8,171 = 9+10
U.S. parent company. For balance of organizations. All branch earnings are asor 3+7+8-5.
certain stability and long-term focus
of foreign investments in U.S. equities.
SUEVEY OF CUEEENT BUSINESS
38
(Continued from page 17)
industry level. Mobile homes accounted for
about 80 percent of the output of the trailer
coach industry in 1963 with the remainder
accounted for by smaller, recreational-type
units. Because mobile homes accounted for
most of the inputs to the industry and because the same types of inputs are used in
the smaller units, it was assumed that the
input pattern for mobile homes was the same
as that for the total industry.
In order to achieve comparability with the
data on inputs to construction, the furniture
and appliances purchased by mobile home
manufacturers for installation in the units
were omitted, while the trade margin on the
sale of the mobile home to its final purchaser
and the transportation from factory to site
were added.
The direct requirements per unit shown in
table 1 were obtained by multiplying the
direct requirements per dollar of output
times the estimated unit costs on line D of
table 1. The unit cost estimates for construction were derived from Bureau of the Census
and FHA data. (It should be noted that there
is some evidence that the 1963 unit cost of
high-rise apartments may have been somewhat higher than that shown in table 1, which
is based on the differential between walk-up
and high-rise apartments insured by FHA.)
The mobile home price was based on unit
price data from the 1963 Census of Manufactures (adjusted to exclude furniture and
appliances and to include transportation and
trade margins).
The total requirements per dwelling unit
shown in table 2 were obtained by taking the
direct requirements per dwelling unit as a final
demand and multiplying them by the coeffi-
October 1970
cients in the total requirements table at the
367-industry level. (This rather involved computation is necessary because the total requirements table for the 367-industries—the most
detailed available—does not contain separate
columns for each type of construction which
would permit the values to be obtained more
directly.)
The distribution of an industry's sales as
shown in table 3 is obtained in two stages.
First, the total requirements placed on each
industry as a result of producing a dwelling
unit were computed as described above.
Second, the direct requirements by each
industry for plastics materials (or railroad
transportation) were obtained by multiplying
the total requirements times the direct
requirements per dollar of its output by the
industry for plastics materials (or railroad
transportation).
Revised Estimates of Retail and Business Inventories
EEVISED monthly estimates of retail
inventories and of combined manufacturing and trade inventories starting
in 1961 are shown in the accompanying
tables. Also shown are revised inventorysales ratios.
These tables reflect revisions in
retail inventories and manufacturers'
sales, both unadjusted and adjusted for
seasonal variations, and in manufacturers' inventories adjusted for seasonal
variations. The data for retail sales and
for merchant wholesalers' sales and
inventories have not been revised.
The report M3-1.2 Manufacturers1
Shipments, Inventories, and Orders:
1961-70, available from the U.S. Government Printing Office, Washington,
D.C. 20402 ($1.00 per copy), contains
complete information on the revision of
these series.
Eetail inventories are estimated on
an establishment basis each month by
the Office of Business Economics, on
the basis of sample data reported to the
Census Bureau. The current revisions
reflect adjustment of 1968 and 1969
figures to yearend benchmark data
provided by the Census Bureau's Annual Retail Trade Reports for those
years, as well as some adjustments for
1961-67 in the allocation of inventories
among lines of trade within the nondurable goods group. Also, the seasonal
factors for all lines of trade have been
recalculated.
The revised estimate of total retail
inventories at the end of 1969 is 2%
percent lower than that previously
published, lowering the stock-sales beginning January 1968, and the Cenratio'for December 1969 from 1.56 to sus Bureau constructed sales estimates
1.52. The revised inventory data were on that basis back through August
incorporated in the national income 1967. In order to provide consistent
and product accounts in the regular historical data by line of trade, OBE
annual revisions, published in the July used techniques similar to those used
by Census for late 1967 to construct
1970 SURVEY.
The 1968 and 1969 Annual Retail .sales estimates back through 1961
Trade Reports gave the first direct (SURVEY, November 1968, page 21 and
measures of inventories based on the May 1969, page 51). OBE's previously
new procedures introduced by the published estimates of inventories by
Census Bureau in 1968, and thus made line of trade on the new basis, also back
possible an evaluation of the assump- through 1961, rested on the assumption
tions underlying the previous OBE that the procedural change had an
estimates of inventories on the new impact on inventories commensurate
basis for the period 1961-67 (SURVEY, with the then-measurable impact on
November 1968, page 21). Examination sales. It is this assumption which has
of the Annual Eeport data and related been reviewed in the light of further
information from the Internal Eevenue information.
Because of the procedural change in
Service's Statistics of Income indicated
that the estimates for durable goods 1968, the line of trade data in the 1967
lines of trade in the 1961-67 period and 1968 Annual Retail Trade Reports
needed virtually no adjustment, and are not comparable. Therefore, heavy
they have not been revised. However, reliance was placed on comparable
sizable adjustments have been made in 1967 and 1968 company data from
the 1961-67 estimates for some lines of Statistics of Income in calculating the
trade within the nondurable goods yearend 1967 inventory levels on an
establishment basis. Yearend levels for
group.
The principal procedural change in- earlier years are based on the relative
troduced by the Census Bureau in 1968 movements shown in the Annual Retail
concerned the treatment of "nonstores" Trade Reports, with monthly interpo(mail-order houses, vending machine lations based on data from the Census
operators, door-to-door salesmen, etc.). Bureau's monthly retail trade sample.
Nonstore retailers are now treated as Additional information on retail inpart of the general merchandise group, ventories, the sample design, and the
whereas formerly they were included reliability of the data can be found in
in the various lines of trade according the Census Bureau's 1968 and 1969
to the type of merchandise sold. Sales Annual Retail Trade Reports (BE-13-68
data on the new basis cover the period andBE-69-13).
October 1970
SURVEY OF CURRENT BUSINESS
39
Manufacturing and Trade and Retail Inventories
[Millions of dollars]
Seasonally adjusted
Unadj listed
Manufacturing
and
trade
Retail
trade,
total
GenLumFureral
ber,
NonmerDeDura- Auto- niture build- duraing
ble
ble
Ap- Food chan- partmoand
goods
tive appli- ma- goods parel group dise ment
group stores
stores, group ance terials, stores, group
with
total
group hard- total
nonware
stores
group
Manufacturing
and
trade
1961
January. . _
February..
March
April
May
June
July
August
September.
October. ..
November.
December.
93, 551
94, 247
94,465
94, 516
94, 385
93, 767
93, 306
93, 512
94, 055
95, 291
96, 508
94, 627
25, 700
26, 106
26, 411
26, 556
26, 397
25, 910
25, 746
25, 373
25, 900
26, 598
27, 366
25, 414
11, 681 5,044
11, 718 5, 053
11,644 4,843
11,611 4,775
11, 634 4,848
11,486 4,752
11, 362 4,669
10, 504 3,824
10, 451 3,763
10, 659 3,841
10, 986 4,118
10, 759 4,375
94, 333 26, 591
94, 164 26, 346
93, 690 25, 957
93, 693 25, 951
93, 788 25, 963
93, 676 25, 915
93, 857 25, 952
94, 297 25, 786
94, 742 26, 246
94, 851 26, 123
95, 488 26, 377
95, 648 26, 221
1962
January. ..
February. .
March
April
May
June
July
August
September.
October
November.
December.
95,464
96, 887
98, 283
98, 479
98, 997
98, 908
98, 580
98, 771
99,642
101, 228
101, 971
99, 928
25, 387
26, 231
27, 156
27, 340
27, 336
26, 999
26, 981
26, 832
27, 285
28, 371
28, 947
27, 071
10, 985
11, 280
11,499
11, 663
11,683
11, 536
11, 569
11,042
10, 872
11, 352
11, 667
11, 460
4,654 1,746 2,297
4,895 1,772 2,331
4,934 1,827 2,447
4,997 1,880 2,488
5,003 1,863 2,481
4,845 1,844 2,469
4,889 1,846 2,448
4,244 1,863 2,425
4,026 1,916 2,402
4,391 1,961 2,386
4,592 2,013 2,352
4,883 1,889 2,279
1963
January
February. .
March
April
MayJune
July
August
September.
October. ._
November.
December.
100,423
101, 598
102, 664
102, 846
103, 095
102, 961
102, 548
102, 634
103, 400
105, 323
106, 536
104, 328
27, 054
27,847
28, 741
28, 862
28, 720
28, 378
28,350
28, 024
28,400
29, 696
30, 606
28,500
11, 607
12, 027
12, 265
12, 229
12, 177
12, 132
12, 113
11,419
11, 226
11, 771
12, 319
12, 199
5,126 1,860
5,488 1,865
5,562 1,921
5,509 1,944
5,457 1,931
5,372 1,949
5,372 1,948
4,522 2,009
4,353 2,037
4,770 2,115
5,156 2,158
5,482 2,026
1964
January. ..
February..
March
April .
May. . .June
July
August
September.
October. ..
November.
December.
105, 240 28, 761
106, 428 29, 602
107, 682 30, 585
108, 343 31, 062
108, 490 30, 910
108, 276 30,854
107, 595 30, 673
107, 440 30, 158
108, 673 30, 799
110,076 31, 071
111, 701 31, 860
110, 250 30, 181
Retail
trade,
total
LumGenFurber,
Noneral
Dura- Auto- niture build- duramering
ble
and
moble
Ap- Food changoods tive appli- ma- goods parel group dise
stores, group ance terials, stores, group
group
with
total
group hard- total
ware
nongroup
stores
11,841
11, 574
11, 258
11, 162
11, 191
11, 174
11,171
10, 823
11, 162
10, 972
11, 072
11, 062
2,482
2,476
2,445
2,444
2,420
2,418
2,452
2,392
2,374
2,375
2,392
2,381
14, 750
14, 772
14, 699
14, 789
14, 772
14, 741
14, 781
14, 963
15,084
15, 151
15, 305
15, 159
3,130
3,086
3,056
3,066
3,053
3,027
3,005
3,028
3,023
3,043
3,044
3,044
1,819
1,832
1,838
1,871
1,850
1,850
1,865
1,863
1,886
1,893
1,917
1,935
2,368
2,364
2,394
2,406
2,404
2,413
2,431
2,430
2,421
2,417
2,388
2,359
15, 138
15, 362
15, 588
15, 519
15, 666
15, 786
15, 827
15, 885
16, 055
16,164
16, 118
16, 143
3,037 3,124 4,921
3,075 3,167 4,978
3,109 3,177 5,060
3,118 3,152 5,056
3,150 3,193 5,120
3,224 3,194 5.173
3,201 3,187 5,216
3,198 3,217 •5, 247
3,188 3,295 5,266
3,227 3,262 5,344
3,226 3,273 5,277
3,326 3,281 5,395
5,021
5,119
5,089
5,045
5,011
5,035
5,116
5,081
5,245
5,384
5,526
5,623
1,937
1,931
1,933
1,930
1,916
1,951
1,964
2,011
2,005
2,043
2,059
2,080
2,359
2,378
2,377
2,381
2,377
2,362
2,370
2,385
2,389
2,380
2,398
2,403
16, 248 3,276
16, 278 3,260
16,411 3,281
16, 483 3,256
16, 571 3,277
16, 558 3,256
16, 661 3,262
16, 711 3,252
16, 823 3,280
17, 023 3,314
17, 039 3,320
16, 814 3,288
12, 714
12, 832
13, 007
13, 139
13, 144
13, 319
13, 312
13, 356
13, 790
12, 831
12, 886
13, 318
5,713
5,787
5,884
5,922
5,864
6,011
5,989
6,058
6,441
5,516
5,554
5,784
2,079 2,385
2,095 2,392
2,118 2,418
2,128 2,445
2,145 2,464
2,146 2,501
2,175 2,511
2,155 2,533
2,177 2,547
2,183 2,544
2,192 2,560
2,227 2,609
16, 991
17, 033
16, 979
17, 141
17, 182
17, 350
17, 480
17, 562
17, 712
17, 822
17, 829
17, 776
5,990
6,091
6,435
6,578
6,742
6,849
6,976
7,576
7,164
7,148
7,196
7,316
2,256 2,622 17, 873
2,294 2,615 17, 892
2,319 2,623 18, 187
2,350 2,582 18, 267
2,332 2,576 18, 276
2,347 2,580 18,438
2,329 2,579 18, 521
2,386 2,568 18, 606
2,378 2,584 18, 637
2,341 2,580 18, 789
2,392 2,565 18, 947
2,392 2,529 19, 152
14, 019 2,880
14, 388 2,975
14, 767 3,080
14, 945 3,100
14, 763 3,019
14, 424 2,864
14, 384 2,825
14, 869 3,055
15, 449 3,241
15, 939 3,335
16, 380 3,345
14, 655 2,883
2,914 4,251
2,973 4,455
3,036 4,667
3,036 4,744
3,032 4,694
3,027 4,537
3,015 4,575
3,044 4,782
3,092 5,091
3,189 5,350
3,280 5,497
3,116 4,521
14, 402
14, 951
15, 657
15, 677
15, 653
15, 463
15,412
15, 790
16, 413
17, 019
17, 280
15, 611
2,794
2,961
3,128
3,146
3,115
3,060
3,019
3,233
3,408
3,534
3,549
3,153
3,052 4,468
3,135 4,717
3,206 5,030
3,184 5,074
3,219 5,074
3,194 4,989
3,149 5,055
3,156 5,258
3,265 5,542
3,331 5,931
3,368 5,982
3,268 4,979
96, 213
96, 806
97, 474
97, 597
98, 336
98, 847
99, 204
99, 667
100, 393
100, 844
100, 921
101, 090
26, 274
26, 496
26, 685
26, 709
26, 887
26, 986
27, 175
27, 334
27, 692
27, 925
27, 896
27, 941
11, 136 4,563
11, 134 4,566
11, 097 4,522
11, 190 4,580
11,221 4,598
11, 200 4,549
11, 348 4,656
11, 449 4,710
11, 637 4,856
11, 761 4,945
11, 778 4,938
11, 798 5,013
2,288
2,342
2,432
2,457
2,451
2,416
2, 382
2,380
2,372
2,351
2,367
2,321
15,447
15, 820
16, 476
16,633
16,543
16, 246
16, 237
16, 605
17, 174
17, 925
18, 287
16,301
3,007
3,136
3,301
3,279
3,238
3,096
3,089
3,294
3,496
3,625
3,652
3,120
3,225
3,281
3,357
3,444
3,454
3,529
3,424
3,367
3,412
3,539
3,578
3,432
4,966
5,239
5,511
5,584
5,553
5,364
5,378
5,600
5,942
6,370
6,523
5,288
101,215
101, 519
101, 773
101, 870
102, 274
102, 749
103, 171
103, 648
104, 225
104, 942
105, 398
105,477
27, 998
28, 123
28, 208
28, 184
28, 229
28, 299
28, 522
28, 625
28, 880
29, 282
29, 522
29, 386
11, 750
11,845
11, 797
11, 701
11, 658
11, 741
11,861
11, 914
12, 057
12, 259
12,483
12, 572
12, 591 5,839
13, 053 6,192
13, 562 6,437
13, 770 6,479
13, 776 6,404
13, 808 6,432
13, 621 6,294
12, 701 5,337
12, 747 5,346
12, 303 4,882
12, 708 5,193
12, 918 5,651
1,998 2,318
2, 024 2,356
2,103 2,471
2,145 2,518
2,164 2,540
2,148 2,556
2,160 2,519
2,151 2,525
2,212 2,527
2,255 2,516
2,295 2,537
2,165 2,520
16, 170
16, 549
17, 023
17, 292
17, 134
17, 046
17, 052
17,457
18, 052
18, 768
19, 152
17, 263
3,094
3,240
3,328
3,368
3,286
3,220
3,203
3,429
3,591
3,691
3,729
3,219
3,429
3,513
3,565
3,557
3,538
3,528
3,483
3,492
3,575
3,669
3,684
3,632
5,236
5,358
5,613
5,802
5,772
5,751
5,898
6,028
6,371
6,829
7,035
5,840
105, 949 29, 705
106, 303 29, 865
106, 715 29, 986
107, 268 30, 280
107, 638 30, 326
108, 071 30, 669
108, 237 30, 792
108, 648 30, 918
109, 754 31, 502
109, 719 30, 653
110, 518 30, 715
111,457 31, 094
1,822
1,824
1,867
1,868
1,882
1,847
1,816
1,833
1,845
1,887
1,881
1,761
2,410
2,446
2,499
2,527
2,500
2,474
2,469
2,387
2,355
2,342
2,349
2,300
2,781
2,847
2,985
3,063
3,069
3,019
3,101
3,219
3,432
3,750
3,889
3,174
4,955 1,896
4,722 1,884
4,443 1,878
4,373 1,862
4,452 1,871
4,470 1,854
4,455 1,834
4,193 1,833
4,545 1,816
4,311 1,820
4,447 1,788
4,487 1,802
1965
January... 111, 625
February.. 112, 928
March
115, 149
April . . . 115, 977
May
116,451
June
116, 508
July
116, 539
August
116, 826
September. 117, 325
October. .. 119, 237
November. 120, 963
December. 119, 554
30, 529
31, 386
33,048
33, 561
33, 498
33, 354
33, 246
33, 098
32, 926
34, 151
35, 260
33,435
13, 505 6,128
14, 027 6,505
14, 839 7,040
15, 157 7,203
15, 300 7,383
15, 230 7,342
15, 171 7,325
14, 593 6,621
13, 920 5,932
14, 341 6,326
14, 886 6,750
14, 811 7,162
2,170
2,218
2,300
2,374
2,353
2,354
2,317
2,379
2,414
2,414
2,502
2,323
2,556 17, 024
2,576 17, 359
2,681 18, 209
2,659 18, 404
2,656 18, 198
2,632 18, 124
2, 584 18, 075
2,553 18, 505
2,558 19, 006
2,552 19, 810
2,547 20, 374
2,443 18, 624
3,122
3,267
3,568
3,587
3,532
3,469
3,486
3,770
3,979
4,057
4,117
3,575
3,587
3,585
3,627
3,667
3,611
3,610
3,570
3,545
3,529
3,692
3,778
3,864
5,793 3,082
6,018 3,206
6,392 3,435
6,451 3,483
6,372 3,441
6,359 3,405
6,395 3,431
6,580 3,552
6,890 3,733
7,357 4,067
7,537 4,224
6,373 3,519
112, 329
112, 828
114, 109
114, 756
115,432
116, 222
117,207
118, 268
118, 591
119, 089
119,845
120, 900
31, 494
31, 687
32, 405
32, 701
32, 820
33, 096
33, 335
34, 093
33, 752
33, 856
34, 103
34, 405
13, 621
13, 795
14, 218
14, 434
14, 544
14, 658
14, 814
15, 487
15, 115
15, 067
15, 156
15, 253
1966
January. . . 120, 911
February. . 123,208
March
125,395
April
126, 775
May
128, 148
June
128,964
July
129, 219
August
129, 816
September 130, 922
October. .. 134, 048
November 136, 598
December. 135, 450
33,661
34,837
36.060
36, 600
37, 000
37, 015
36,790
35, 974
36,364
37, 976
39, 093
37,031
15,330
15,943
16,444
16, 714
17, 253
17,325
17, 092
15, 735
15, 500
16, 294
16, 967
16, 771
2,348
2,368
2,455
2,588
2,670
2,694
2,729
2,756
2,840
2,923
2,963
2,731
2,486
2,536
2,629
2,651
2,690
2,672
2,609
2,609
2,577
2,620
2,631
2,545
3,446
3,650
3,832
3,841
3,799
3,700
3,727
3,969
4,160
4,276
4,345
3,829
3,764
3,756
3,846
3,896
3,880
3,930
3,930
3,961
4,052
4,161
4,119
4,069
6,519
6,687
7,098
7,234
7,146
7,112
7,146
7,392
7,777
8,325
8,491
7,179
121,645
123, 053
124, 287
125, 373
126, 921
128, 652
129, 838
131,345
132, 386
133, 990
135,428
136,988
34, 638
35, 120
35,375
35, 646
36, 227
36, 710
36, 885
37, 035
37, 272
37? 650
37, 782
38, 073
15,383 7,308
15, 624 7,404
15, 740 7,381
15, 880 7,423
16,371 7,705
16, 670 7,877
16, 717 7,719
16, 702 7,682
16, 805 7,719
17, 101 7,900
17, 237 8,032
17,258 8,041
7,498
7,893
8,053
8,136
8,460
8,452
8,090
6,653
6,391
6,999
7,574
7,888
18,331
18, 894
19,616
19, 886
19, 747
19,690
19, 698
20, 239
20, 864
21,682
22, 126
20, 260
3,508
3,631
3,892
4,009
3,973
3,945
3,992
4,140
4,405
4,757
4,923
4,097
2,441
2,446
2,477
2,560
2,646
2,683
2,740
2,764
2,804
2,841
2,833
2,813
2,534
2,567
2,572
2,571
2,614
2,627
2,612
2,633
2,608
2,652
2,644
2,635
2,989
3,006
3,006
3,009
3,005
3,027
3,049
3,100
3,120
3,123
3,188
3,132
Department
stores
4,689
4,699
4,696
4,725
4,740
4,711
4,726
4,766
4,821
4,816
4,840
4,917
3,291
3,311
3,327
3,410
3,433
3,529
3,473
3,436
3,440
3,466
3,481
3,435
5,457
5,526
5,547
5,567
5,606
5,546
5,545
5,604
5,664
5,739
5,762
5,709
3,374
3,368
3,311
3,351
3,329
3,375
3,372
3,378
3,372
3,383
3,393
3,385
3,485
3,545
3,540
3,522
3,527
3,532
3,532
3,567
3, 607 '
3,590
3,584
3,628
5,734
5,655
5,656
5,784
5,833
5,937
6,072
6,040
6,093
6,157
6,222
6,276
3,408
3,396
3,557
3,573
3,582
3,629
3,654
3,707
3,740
3,729
3,753
3,751
3,631
3,618
3,605
3,634
3,607
3,617
3,624
3,621
3,561
3,613
3,675
3,856
6,317 3,402
6,348 3,425
6,444 3,466
6,435 3,473
6,450 3,486
6,552 3,547
6,577 3,559
6,603 3,581
6,605 3,572
6,642 3,618
6,679 3,667
6,827 3,748
19, 255 3,758 3,798
19, 496 3,794 3,790
19,635 3,828 3,831
19, 766 3,830 3,869
19, 856 3,857 3,884
20,040 3,866 3,942
20, 168 3,894 3,990
20, 333 3,895 4,042
20, 467 3,913 4,089
20, 549 3,945 4,071
20, 545 3,968 3,999
20, 815 4,009 4,057
7,083
7,058
7,170
7,220
7,237
7,323
7,340
7,414
7,465
7,523
7,538
7,673
3,080
3,045
3,009
3,045
3,100
3,155
3,227
3,245
3,275
3,330
3,367
3,391
3,863
3,875
3,935
4.001
4,029
4,101
4,128
4,165
4,223
4,244
4,288
4,359
SURVEY OF CURRENT BUSINESS
40
October 1970
Manufacturing and Trade and Retail Inventories—Continued
Unadjusted
Seasonally adjusted
Durable
goods
stores,
total
LumFurber,
NonAuto- niture build- duraing
and
ble
mogoods
tive appli- magroup ance terials, stores,
group hardtotal
ware
group
37, 149
37, 751
38, 660
39,061
38, 737
38, 210
37, 908
37, 247
37, 910
38, 840
40, 196
37, 982
17, 275
17,454
17, 708
17, 742
17, 669
17,318
17, 062
15, 873
16, 020
16, 266
16, 724
16, 832
8,137
8,256
8,255
8,168
8,059
7,805
7,514
6,165
6,286
6,419
6,723
7,284
2,742
2,749
2,788
2,849
2,862
2,855
2,821
2,836
2,885
2,928
3,026
2,825
2,596
2,564
2,636
2,686
2,706
2,658
2,620
2,611
2,640
2,650
2,669
2,575
19, 874
20, 297
20, 952
21,319
21,068
20, 892
20, 846
21, 374
21,890
22, 574
23, 472
21, 150
3,718
3,951
4,038
4,050
4,013
3,889
3,889
4,156
4,293
4,366
4,492
3,917
4,045
4,025
4,094
4,086
4,078
4,115
4,074
4,070
4,128
4,193
4,443
4,256
7,079
7,255
7,604
7,879
7,685
7,561
7,623
7,884
8,286
8,724
9,045
7,530
3,985
4,108
4,359
4,576
4,415
4,340
4,400
4,580
4,850
5,126
5,357
4,417
137, 999
138,483
138, 954
139,504
139, 549
139, 593
140, 022
140, 818
140, 885
141, 086
142, 058
143, 334
143, 106
144, 626
146, 093
147, 745
148, 714
148,319
147, 595
147, 784
148, 439
151,469
153, 157
151,327
38,320
39, 151
40, 184
40, 913
41, 139
40, 659
40, 445
39, 531
39, 928
42,064
43, 109
40, 601
17,457
17, 946
18, 292
18, 844
19, 097
18, 957
18, 642
17, 247
16,918
17, 884
18, 468
18,412
7,836
8,183
8,387
8,764
9,025
8,935
8,733
7,278
7,051
7,810
8,341
8, 653
2,808
2,886
2,943
3,021
3,022
3,007
3,012
3,005
3,029
3,107
3,121
2,989
2,626
2,631
2,694
2,750
2,721
2,676
2,698
2,647
2,656
2,659
2,629
2,621
20, 863
21,205
21, 892
22, 069
22,042
21, 702
21, 803
22,284
23, 010
24, 180
24, 641
22, 189
3,742
3,927
4,080
4,112
4,031
3,948
4,035
4,242
4,491
4,626
4,638
4,050
4,206
4,221
4,265
4,292
4,299
4,257
4,207
4,222
4,283
4,445
4,538
4,393
7,539
7,787
8,146
8,301
8,315
8,229
8,371
8,553
8,904
9,665
9,901
8,314
4,351
4,538
4,801
4,859
4,863
4,756
4,867
4,982
5, 123
5,657
5,829
4,886
1969
January. . . 152, 488
February.. 154, 648
March
156, 869
April
158,474
May.. .
159,201
June
158, 981
July
158, 860
August
158, 898
September 160, 454
October... 163, 229
November. 165, 057
December. 163,375
40, 786
41, 770
42, 868
43, 346
43,045
42, 972
42, 829
42, 141
43,370
44, 882
46, 014
43,535
19, 139
19,438
19, 874
20, 096
19,685
19, 707
19, 367
18,098
18, 569
19,075
19, 598
19, 527
9,262
9,434
9,618
9,768
9,459
9,539
9,217
7,843
8,338
8,713
9,114
9,424
2,977
2,977
3,074
3,098
3,049
3,013
3,055
3,088
3,108
3,197
3,298
3,122
2,659
2,735
2,804
2,839
2,804
2,768
2,691
2,665
2,639
2,616
2,606
2,546
21, 647
22, 332
22, 994
23, 250
23,360
23, 265
23,462
24,043
24, 801
25, 807
26,416
24,008
3,934
4,203
4,389
4,417
4,400
4,336
4,385
4,685
4,816
4,860
4,975
4,426
4,419 8,019
4,388 8,455
4,462 8,803
4,458 9,019
4,507 9,140
4,507 9,057
4,502 9,208
4,497 9,434
4,550 9,908
4,664 10, 627
4,762 10, 834
4,691 9,186
4,696
4,953
5,166
5,295
5,325
5,240
5,370
5,518
5,803
6,269
6,435
5,348
Manufacturing
and
trade
Retail
trade,
total
1967
January.. February..
March ...
April
May .
June
July
August
September
October...
November
Deeember.
137, 206
138, 636
140,117
141,025
140, 974
139, 971
139, 227
139, 280
139, 735
141,360
143, 428
142,057
1968
January ...
February __
March
April
May .
June... . .
July
August
September
October
November.
December.
General
merDeAp- Food chan- partparel group dise ment
group stores
group
with
nonstores
Manufacturing
Manufacturing
1961
January
February
March
April
1.61
1.60
1 57
1.58
1 56
1 53
1 55
1 52
1.52
May
June
July
August
Setember
October
November. .
December
Total
Durable
trade
May. .
June
.
July
August
. ..
September
October
November
December
1964
2 15
2.13
2 05
2.09
2 04
2 00
2 01
1 91
1 97
1 88
1 87
1 87
1 19
1.19
1 17
1.19
1 18
1 17
1 17
1 18
1 19
1 18
1.19
1 17
January
February
March
April
1 50
1.50
1 49
1 48
1.47
1 44
1.46
1 44
1 43
1.43
1 41
1.43
1 40
1.40
1 39
1 50
1.51
1 50
1 50
1.51
1.53
1 53
1.52
1 52
1 52
1 50
1.53
1 38
1.39
1 38
1 37
1 37
1.40
1 38
1.38
1 40
1 39
1 38
1.38
1 87
1 86
1 81
1 82
1 80
1.83
1 81
1 82
1 89
1 80
1 80
1.84
1 16
1 18
1 18
1 17
1 18
1.20
1 18
1.18
1 18
1 19
1 18
1.17
January
February
March
April
1 52
1 50
1 50
1 49
1 50
1 49
1.47
1.50
1.50
1 49
1.51
1.48
1 38
1 40
1.39
1 38
1 39
1 39
1.38
1.39
1.40
1 40
1 43
1.39
1 79
1 83
1 81
1 76
1 78
1 78
1 77
1.81
1.82
1 74
1 86
1.84
1 18
1 19
1 19
1 20
1 21
1 20
1 19
1.19
1.21
1 23
1 22
1 17
January
February
March
April
May
June
July
August
September
October
November
December
May
June
July. .
August.
September
October
November
December
.
2,636
2, 585
2,577
2,600
2,635
2,621
2,625
2,643
2,657
2,685
2,677
2,663
20, 874
20, 956
20, 994
21, 224
21, 196
21, 265
21, 322
21,473
21,455
21,375
21, 765
21, 675
4, 050
4,107
4,038
4,046
4,074
4,059
4,051
4,079
4,042
4,031
4,106
4,084
4,074
4,062
4,078
4,066
,086
,132
,140
,149
,165
4,099
4,301
4,239
7,683
7,665
7,693
7,871
7,781
7,779
7,818
7,912
7,954
7,879
8,041
8,022
4,384
4,380
4,412
4,571
4,478
4,502
4,536
4,608
4,650
4,581
4,679
4,689
17, 424
17,611
17, 607
17, 935
18, 164
18, 202
18, 289
18, 348
18,303
18, 699
18, 663
18, 851
7,571
7,691
7,751
8,011
8,205
8,243
8,373
8,452
8,466
8,765
8,762
8,776
2,910
2,975
2,976
2,988
3,001
2,995
3,021
3,011
3,005
3,025
2,975
3,066
2,653
2,647
2,633
2,657
2,655
2,647
2,709
2,682
2,696
2,694
2,634
2,705
21, 886
21,929
21, 974
22, 019
22, 194
22, 122
22, 294
22, 372
22, 529
22,856
22, 809
22, 753
4,059
4,086
4,088
4,116
4,097
4,121
4,194
4,159
4,233
4,279
4,247
4,214
4,227
4,264
4,256
4,283
4,308
4,278
4,275
4,304
4,322
4,345
4,385
4,375
8,164
8,240
8,256
8,304
8,419
8,471
8,577
8,578
8,544
8,727
8,812
8,849
4,776
4,838
4,864
4,859
4,932
4,934
5,012
5,007
4,912
5,060
5,100
5,187
19, 023
19,013
19,111
19, 099
18, 727
19,016
19, 015
19, 399
19, 633
20, 044
19, 835
19,980
8,923
8,858
8,906
8,937
8,607
8,907
8,854
9,184
9,475
9,768
9,563
9,558
3,085
3,066
3,108
3,064
3,031
3,001
3,064
3,094
3,086
3,116
3,144
3,199
2,683
2,749
2,741
2,738
2,738
2,743
2,702
2,703
2,654
2,656
2,611
2,627
22, 736
23, 118
23, 109
23, 219
23, 534
23, 733
23, 984
24, 136
24, 264
24, 367
24,433
24, 643
4,262
4,374
4,402
4,426
4,472
4,526
4,553
4,593
4,543
4,496
4,560
4,606
4,441
4,432
4,453
4,454
4,516
4,530
4,575
4,584
4,591
4,564
4,597
4,672
8,683
8,951
8,935
9,026
9,249
9,323
9,429
9.466
9,507
9,594
9,645
9,777
5,155
5,280
5,239
5,295
5,395
5,436
5,525
5,546
5,564
5,607
5,635
5,677
143, 875
144, 563
144, 957
146, 160
147, 258
147, 896
148, 375
149, 356
150, 036
151, 356
151,829
152, 699
39,310
39, 540
39, 581
39, 954
40, 358
40, 324
40, 583
40, 720
40, 832
41, 555
41,472
41,604
153, 227
154, 536
155, 671
156, 698
157, 584
158, 553
159, 634
160, 734
161, 841
163, 331
163, 763
164,917
41, 759
42, 131
42, 220
42,318
42, 261
42, 749
42, 999
43, 535
43, 897
44, 411
44, 268
44, 623
ble
Stocks/Sales
Ratios
Manufacturing
and
trade
Retail
Total
Durable
1 47
1.48
1 49
1.48
1 47
1 48
1.46
1 47
1.46
Non-
May
June
July
August
September
October
November
December
1966
May
June
July
August
September
October
November
December
1967
1 86
1.85
1 89
1.88
1 83
1 49
1.48
1 45
1 41
1.41
1 41
1.41
1 39
1 41
1.41
1 39
1.41
1 42
1.41
1 37
1 89
1 89
1 84
1 83
1 97
1 92
1 76
1 20
1.20
1 18
1.18
1 18
1 18
1 18
1 17
1 19
1 19
1.19
1 17
1 45
1.46
1 45
1 45
1 46
1.46
1 45
1.46
1 48
1 46
1 44
1.44
1.37
1.37
1 42
1 42
1.40
1.42
1 41
1.44
1 42
1 39
1 38
1.39
1 77
1.78
1 87
1 89
1 89
1.91
1 91
1 98
1 95
1 89
1 84
1.82
1968
1.18 January
1.17 February
1 19 March
1 19 April
1.16 May
1.18 June
-.- -1 17 July
..
1.17 August .
1 16 September
1 15 October
1 15 November
1.17 December ._
1 43
1 44
1 43
1 45
1 47
1 47
1 50
1.49
1.49
1 51
1 54
1 55
1 39
1 41
1 39
1 42
1 47
1 46
1 46
1.45
1.45
1 47
1 48
1.50
1 88
1 91
1 83
1 96
2 13
2 07
2 08
2 00
2.02
2 08
2 09
2 09
1969
1 15 January
1 16 February
1 17 March
1 16 April
1 17 May
1 17 June
1 17 July
...
1.18 August
1.18 September . .. .
1 19 October
1 19 November
1 22 December
1965
1963
January
February
March
April
2,847
2,834
2,816
2,818
2,839
2,841
2,829
2,845
2,854
2,848
2,887
2,903
17, 296
17, 107
17,011
16, 888
16,804
16, 708
16, 873
16,904
16, 995
16, 870
16, 898
17, 277
trade
Dura-
Retail
Total
Durable
durable
1962
January
February
March
April
7,900
7,752
7,601
7,459
7,320
7,274
7,328
7,251
7,364
7,110
7,092
7,395
38, 170
38,063
38,005
38, 112
38,000
37, 973
38, 195
38,377
38, 450
38, 245
38,663
38, 952
and
Retail
trade,
total
and
Nondurable
Non-
goods
stores,
total
fac-
turing
Manufacturing
and
trade
Lumber,
General
mer- DeApFood chan- partparel group dise m e n t
group
group stores
with
nonstores
and Trade and Retail
Retail
Fur-
Auto- niture build- duraand
ing
moble
tive appli- magoods
group ance terials, stores,
group hardtotal
ware
group
Manu-
January
February
March
April
.
May
June
July
August
September,October
November
December
Nondurable
1.57
1.59
1.58
1.59
1.59
1.57
1.58
1.57
1.56
1.59
1.57
1.55
1.48
1.49
1.48
1.47
1.46
1.43
1.45
1.46
1.43
1.46
2.08
2.15
2.09
2.05
2.02
1.95
2.00
2.01
1.91
2.05
2.03
2.03
1.19
1.20
1.19
1.20
1.20
1.19
1.19
1.20
1.19
1.19
1.20
1.20
1.54
1.54
1.53
1.54
.46
.44
.42
.44
.43
.43
.42
.42
1.44
1.45
1.44
1.46
2.03
1.99
1.95
2.00
1.99
1.98
1.96
1.96
2.01
2.00
2.00
2.01
1.19
1.18
1.16
1.17
1.17
1.16
1.15
1.16
1.17
1.18
1.17
1.19
1.44
1.44
1.46
1.44
1.44
1.46
1.48
1.48
1.50
1.50
1.50
1.52
2.01
1.98
2.04
1.99
1.98
1.99
2.08
2.12
2.09
2.14
2.15
2.15
1.17
1.18
1.18
1.17
1.18
1.20
1.20
1.20
1.22
1.20
1.21
1.22
.53
.52
.51
.54
.52
.52
.52
.54
.53
.52
.53
.53
.52
.52
.54
.53
.53
1.53
1.55
1.57
.46
.47
LJ.S. GOVERNMENT PRINTING OFFICE: 1970
O—404-263
CURRENT BUSINESS STATISTICS
J.HE STATISTICS here update series published in the 1969 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $3.00) provides a description of each series, references to sources of earlier figures, and historical data
as follows: For all series, monthly or quarterly, 1965 through 1968 (1958-68 for major quarterly series), annually, 1939-68; for selected series,
monthly or quarterly, 1947-68 (where available). Series added or significantly revised after the 1969 BUSINESS STATISTICS went to press are indicated
by an asterisk (*) and a dagger (f), respectively; certain revisions for 1968 issued too late for inclusion in the 1969 volume appear in the monthly
SURVEY beginning with the September 1969 issue. Also, unless otherwise noted, revised monthly data for periods not shown herein corresponding
to revised annual data are available upon request.
The sources of the data are given in the 1969 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and
are also listed alphabetically on pages 189-90.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely.
Data from private sources are provided through the courtesy of the compilers, and are subject to their copyrights.
1967
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
1968
1967
1968 | 1969
III
IV
I
II
1969
| III
IV
I
II
1970
III
IV
I
|
II
Hip
Annual total
Seasonally adjusted quarterly totals at annual rates
GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
bil. $._
793.9
865.0
931.4
800.9
815.9
834.9
858.1
875.8
891.4
907.6
923.7
942.6
951.7
959.5
971.1
985.2
do
492.1
535.8
577.5
495.5
502.5
519.7
529.1
543.8
550.8
561.8
573.3
582.1
592.6
603.1
614.4
622.4
Durable goods total 9
do
Automobiles and parts
_ _ _
do
Furniture and household equipment _ _ do
73.1
30.5
31.4
84.0
37.2
34.6
90.0
40.3
36.7
73.7
31.2
31.3
75.3
31.1
32.5
79.9
34.9
33.7
82.6
36.0
34.1
86.7
39.1
35.4
86.9
38.8
35.2
89.1
39.8
35.8
90.6
40.0
37.2
89.5
40.2
36.7
90.8
41.1
36.9
89.1
37.7
38.3
91.9
39.4
38.9
91.4
39. 3
38.3
do
- do
do
do
215.0
42.3
108.5
17.6
230.2
46.1
115. 1
19.0
245.8
49. 9
121.7
21.1
215.5
42.7
108.4
17.7
217.1
42.5
109. 5
18. 1
225.6
44.8
112.7
18.8
227.6
45.2
114.7
18.6
232.6
47.1
116. 1
19.2
234.8
47.2
117.0
19.3
239. 2
47. 9
119. 1
20.3
244.0
50.0
120.8
20.8
248.1
50.7
122.4
21.5
252.0
50.9
124.6
21.7
258.8
51.3
128.8
22.4
262. 6
51.8
131.2
22.7
265. 5
52.3
132.0
23.0
_.
__ do
do
do
do
204.0
29.1
71.8
14.5
221.6
31.2
77.4
15.6
241.6
33.9
84.0
16.7
206. 3
29.2
72.3
14.6
210.1
30.1
73.7
14.6
214.2
30.4
75.2
15.2
218.9
30.8
76.6
15.3
224.5
31.5
77.9
15.6
229.0
32.1
79 8
16.1
233.5
32.7
81.4
16.2
238.7
33.3
83.0
16.5
244.5
34.5
84.7
16.8
249.8
34.8
87.0
17.1
255.2
35.2
89.0
17.7
259.9
35.9
90. 8
17.9
265.4
36.8
92.6
18.2
Gross private domestic investment, total
do
116.6
126.5
139.8
118.6
123.0
119.8
127.3
126.5
132.6
136.0
139.3
143.8
140.2
133.2
134.3
136.8
128.7
95.7
32.6
63.1
33.0
32.4
7.4
7.3
131.4
97.5
32.3
65.2
33.9
33.3
7.9
7.6
132. 4
101.5
35.2
66.3
31.0
30.4
11.3
10.8
133.0
102. 6
35.1
67.5
30.4
29. 8 '
7.2
6.5
131.6
102. 6
35.7
66. 9
29. 1
28.4
1.6
.9
131.2
102.8
35.3
67.5
28.4
27.8
3.1
2.6
132. 8
103.7
35.4
68.4
29. 1
28.5
4.0
3.5
Gross national product, total f
Personal consumption expenditures, total
Nondurable goods, total?
Clothing and shoes
Food and beverages
Gasoline and oil
-
Services total 9
Household operation
Housing
_ ._
Transportation
do
do
do
do
do
do
do
do
108.4
83.3
28.0
55.3
25.1
24.5
8.2
7.5
118.9
88.7
29.6
59.1
30.3
29.7
7.6
7.5
131.4
99.3
33.8
65.5
32.0
31.5
8.5
8.0
109.9
83.3
27.9
55.4
26.6
26.0
8.7
7.8
113.0
84.1
28.0
56.2
28.8
28.3
10.0
8.5
117.2
88.3
29.8
58.5
28.8
28.3
2.6
2.5
117.0
86.4
28.9
57.5
30.6
30.1
10.4
10.3
118.3
88.3
29.4
59.0
29.9
29.4
8.2
8.1
123.3
91. 6
30.3
61.3
31.7
31.1
9.3
9.3
do
__.do_
do
5.2
46.2
41.0
2.5
50.6
48.1
1.9
55.5
53.6
5.6
46.3
40.7
4.0
46.8
42.8
1.8
47.7
45.9
3.4
50.7
47.3
3.4
53.2
49.8
1.4
50.9
49.5
1.3
47.8
46.5
1.3
57.2
55.9
2. 6
58.3
55.6
2.6
58.8
56.2
3.5
61.1
57.6
4.1
62.8
58.7
4.7
63. 5
58. 8
Govt. purchases of goods and services, total. .do
Federal
- do
National defense
do
State and local
do
180.1
90.7
72.4
89.4
200.2
99.5
78.0
100.7
212 2
101.' 3
78.8
110.8
181.3
91.4
73.0
89.9
186.5
93. 6
74.7
92.9
193.6
96. 4
76.3
97.2
198.3
98. 9
77.8
99.4
202.1
100.7
78.6
101.4
206.7
101.9
79.2
104.7
208.5
100. 9
78.6
107.5
209. 9
99.8
77.9
110.1
214.1
102. 5
79.8
111.6
216.3
102. 1
78.8
114. 2
219.6
102.3
79.3
117.4
218.4
99.7
76.8
118. 7
221.3
99. 0
75. 2
122. 4
By major type of product: f
Final sales, total.
Goods, total
Durable goods
Nondurable goods
Services
Structures
do
do
do
do
do
do
785.7
390. 7
156.5
234.2
316.5
78.6
857.4
422.9
170.4
252.5
347.1
87.4
922.9
451.6
183. 9
267.7
377.6
93.8
7!)2. 2
393. 1
157.6
235. 5
319. 7
79.4
805.9
395.0
158.5
236.5
328.4
82.5
832.3
411.6
165.2
246.4
334.7
86.0
847.8
417.8
168.0
249.8
343.1
86.8
867.6
429. 0
173.1
255.9
352.2
86.3
882.1
433.3
175.3
258.0
358.4
90.5
900. 2
440.9
180.5
260.4
364.8
94.5
915.9
448.8
182. 7
266. 1
372.3
94.8
931. 2
454. 9
184.8
270. 1
383.0
93. 3
944.5
461.7
187.4
274.3
390. 3
92.5
957.9
465.5
185.5
280. 0
400. 1
92.3
968.1
471.8
188.5
283.3
405.8
90. 4
981.2
do
do
do
8.2
4.7
3.5
7.6
5.7
2.0
8.5
6.4
2.1
8.7
5.6
3.1
10.0
6.1
3.9
2.6
2.5
.1
10.4
7. 1
3.2
8.2
5.8
2.4
9.3
7.2
2.1
7.4
5.6
1.8
7.9
6.7
1.2
11.3
7.9
3.5
7.2
5.3
1.9
1.6
—.3
1.9
3.1
—1.9
5.0
4.0
675.2
707.2
727.1
678.9
683.6
693.5
705.4
712.6
717.5
722.1
726.1
730.9
729.2
723.8
724.9
727.5
471.7
474.0
478.1
480.2
Fixed investment
Nonresident ial
Structures
- Producers' durable equipment
Residential structures
Nonfarm
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, totalf
bil $
Personal consumption expenditures, total
Durable goods _
Nondurable goods
Services
_ . .
__ _
Gross private domestic investment, total
Fixed investment
Nonresidential
Residential structures...
Change in business inventories
Net exports of goods and services
do
430.1
452.3
467.7
431.6
434.3
445.0
448.4
457.7
458.1
463.3
467.1
468.7
.do
do_
do
72.9
190.2
167.0
81.4
196. 5
174.4
84.9
201.2
181.6
73.3
190.0
168.3
74.0
190.3
169.9
78.1
195. 5
171.3
80.2
194. 9
173.2
83.9
197.9
175.9
83.2
197.6
177.4
84.9
199.7
178.7
85.7
200. 9
180.5
84.1
201. 9
182. 7
84.9
202. 4
184.4
82.7
205.6
185.8
84.9
206.6
186.6
83. 9
do.
101.2
105.7
111.3
102.4
105.1
101.3
107.1
105.1
109.5
109.7
111.5
114.1
110.0
102.9
103.1
102.6
99.5
2.9
do
do.._
do
.do
do
93.5
73.2
20.4
7.7
98.8
75.5
23.3
6.9
104.1
80.8
23.3
7.2
94.2
72.9
21.3
8.3
95.9
72.9
23.0
9.2
98.9
76.1
22.9
2.4
97.6
73.8
23.8
9.5
97.7
74.9
22.8
7.4
101.0
77.1
23.9
8.5
103.6
79.3
24.3
6.1
104.8
80.2
24.7
6.6
104. 2
81.9
22.3
9.9
103.9
82.1
21.8
6.1
101.5
80.9
20. 7
1.3
100.1
80.2
20.0
2.9
3.6
.9
.2
4.2
2.1
.8
1.5
1.5
-.2
-.4
-.3
.8
.9
1.9
2.4
142.2
140.2
148.3
147.8
140.7
Govt. purchases of goods and services, total, .do
75.4
75.5
78.7
Federal
.
. d o
74.7
75.7
65.3
72.1
66.7
69.6
State and local..
.
.do
65.5
r
Revised.
p Preliminary.
fRevised series. Estimates of national income and
product and personal income have been revised back to 1967 (see p. 17 ff. of the July 1970
404-263 O - 70 - SI
3.2
141.7
141.3
145.0
147.3
146.6
147.9
149.5
148.3
150.0
146.4
148.5
67.2
67.8
71. 1
75.2
73.8
78.0
75.8
79.4
78.9
79.1
77.5
74. 5
73.5
73.8
72.9
72.
1
72.1
69.4
70.6
71.5
69.4
68.9
SURVEY) ; revisions prior to May 1969 for personal income appear or p. 26 f!. of the July W70
SURVEY.
9 Includes data not shown separately.
October 1970
SURVEY OF CURKENT BUSINESS
S-2
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
1967
196S
1969
Annual total
I
IV
II
1970
1969
1968
1967
III
IV
I
II
IV
III
I
II
III*
IV
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
National income totalt
toil
$
653.6
712.7
769.5
671.6
687.2
706.1
722.2
735.2
749.3
764.0
779.5
785.2
791.5
797.4
Compensation of employees total
do
467.2
514.1
564.2
481.8
495.3
507.6
520.9
532.5
544.9
557.5
572.2
582.1
592.2
596.4
603.8
\Vages 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
423.1
337.3
16.2
69.5
44.2
62.1
47.3
14.8
21.1
464.8
369.1
17.9
77.8
49.3
64.1
49.1
15.0
21.3
509.0
404.9
19.0
85.1
55.1
66.8
50.5
16.4
22.0
436.2
346.5
17.0
72.7
45.6
62.9
47.7
15.2
21.3
447.9
356.0
17.3
74.7
47.4
62.9
48.5
14.4
21.3
458.9
364.7
17.6
76.6
48.7
63.8
49.2
14.6
21.3
471.0
373.4
18.6
79.0
49.9
64.4
49.2
15.3
21.3
481.4
382.5
18.2
80.7
51.1
65.2
49.4
15.8
21.3
491.6
391.5
18.1
81.9
53.3
66.0
49.9
16.2
21.6
502.9
401.2
18.4
83.4
54.6
66.7
50.5
16.2
22.0
516.4
409.9
19.9
86.6
55.8
67.5
50.9
16.6
22.1
525.3
417.2
19.6
88.5
56.8
67.2
50.6
16.6
22.3
534.4
422.6
a20. 1
a91. 7
57.9
67.6
50.6
17.0
22.5
537.4
424.0
19.5
93.9
59.0
67.8
51.2
16.5
22.6
543.4
428.9
19.2
95.4
60.4
67.8
51.7
16.1
22.7
78.7
85.4
85.8
80.0
81.3
86.0
87.4
87.1
87.1
87.4
86.8
82.0
76.7
77.5
10.0
68.7
38.7
18.0
20.7
11.0
74.4
42.4
19.1
23.3
12.0
73.8
41.8
19.3
22.4
10.2
69.8
38.7
18.1
20.6
10.6
70.6
40.1
18.6
21.5
10.8
75.2
42.8
18.9
23.9
11.5
75.9
42.9
19.4
23.6
11.2
75.9
43.7
19.2
24.4
11.5
75.5
43.4
19.4
24.0
11.9
75.4
42.9
19.9
23.0
12.2
74.6
41.8
19.1
22.7
12.2
69.8
39.1
19.0
20.0
12.0
64.7
35.2
18.3
16.9
12.3
65.2
35.5
18.2
17.2
10.8
19.1
11.0
21.0
10.7
21.4
10.7
20.3
11.1
19.5
11.0
21.3
11.2
21.8
10.7
21.5
11.0
21.2
10.8
21.8
10.6
22.2
10.3
20.4
9.1
20.4
8.6
21.1
79.8
33.2
46.6
21.4
25.3
-1.1
24.4
88.7
40.6
48.2
23.3
24.9
-3.3
27.8
91.2
42.7
48.5
24.7
23.9
-5.4
30.7
83.3
34.5
48.9
21.0
27.8
-3.3
25.6
86.7
39.8
46.9
22.3
24.7
-5.4
26.4
88.6
40.4
48.3
23.1
25.2
-2.6
27.3
88.4
40.4
48.0
23.8
24.2
o
28.' 2
91.3
41.7
49.6
24.1
25.5
-4.2
29.1
93.0
43.5
49.5
24.1
25.5
-5.9
29.7
93.4
43.8
49.7
24.4
25.2
-6.0
30.4
89.9
42.1
47.9
25.0
22.9
-3.2
31.0
88.5
41.4
47.1
25.2
21.9
-6.5
31.7
82.6
38.0
44.6
25.2
19.4
-5.8
32.4
82.0
38.1
43.9
25.1
18.8
-4.5
33.1
-5.8
33.8
629.3
83.0
546.3
506.0
40.4
688.7
97.5
591.2
550.8
40.4
748.9
117.3
631.6
593.9
37.6
646.3
86.3
559.9
516.6
43.3
664.0
89.1
574.9
534.1
40.8
680.9
92.6
588.4
543.8
44.6
697.6
102.1
595.6
559.1
36.5
712.5
106.5
606.0
566.4
39.6
725.8
113.8
612.0
577.7
34.3
741.1
118.1
623.0
589.7
33.3
758.1
117.5
640.6
598.7
42.0
770.5
119.9
650.6
609.6
41.1
782.3
117.0
665.3
620.5
44.8
801.3
117.7
683.6
632.1
51.5
807.1
114.1
693.0
640.5
52.5
65.47
28.51
14.06
14.45
67.76
28.37
14.12
14.25
75.56
31.68
15.96
15.72
18.12
7.77
3.96
3.81
15.10
6.15
3.06
3.09
16.85
6.99
3.36
3.63
16.79
7.13
3.54
3.59
19.03
8.10
4.16
3.94
16.04
6.58
3.36
3.22
18.81
7.82
3.98
3.84
19.25
8.16
4.03
4.12
21.46
9.12
4.59
4.53
17.47
7.14
3.59
3.56
20.33
8.15
4.08
4.07
i 20. 06
7.76
3.78
3.98
122.66
8.99
4.44
4.55
36.96
1.65
1.86
2.29
1.48
8.74
6.75
2.00
6.34
14.59
39.40
1.63
1.45
2.56
1.59
10.20
7.66
2.54
6.83
15.14
43.88
1.86
1.86
2.51
1.68
11.61
8.94
2.67
8.30
16.05
10.35
.47
.50
.64
.38
2.59
2.08
.51
1.73
4.04
8.95
.42
.39
.68
.30
2.07
1.69
.38
1.59
3.50
9.86
.43
.37
.58
.42
2.62
1.94
.68
1.62
3.81
9.66
.39
.31
.64
.41
2.61
1.87
.74
1.61
3.69
10.93
.40
.38
.66
.47
2.90
2.16
.74
2.00
4.13
9.45
.42
.38
.68
.38
2.36
1.88
.48
1.81
3.41
10.99
.48
.44
.66
.46
2.99
2.22
.77
2.00
3.97
11.10
.47
.49
.53
.40
3.03
2.23
.80
2.11
4.07
12.34
.49
.55
.64
.44
3.23
2.61
.62
2.39
4.60
10.32
.45
.42
.73
.28
2.54
2.15
.39
2.14
3.76
12.18
.47
.47
.80
.31
3.28
2.59
.69
2.59
4.26
12.30
.44
.46
.80
.31
3.70
2.91
.79
13.67
.49
.52
.71
.35
4.00
3.32
.68
26.58
27.60
65.66
27.51
13.71
13.80
68.09
28.02
14.11
13.91
66.29
27.84
13.51
14.33
67.77
28.86
14.47
14.40
69.05
28.70
14.39
14.31
72.52
29.99
15.47
14.52
73.94
31.16
15.98
15.18
77.84
33.05
16.53
16.52
77.84
32.39
15.88
16.50
78.22
32.44
16.40
16.05
80.22 i 81. 05 i 82. 24
32.43 31.21 32.15
15.53
15.38
16.32
16.62
15.84
16.11
38.15
1.78
1.82
2.79
1.41
9.46
7.47
1.99
6.37
14.54
40.07
1.80
1.68
2.88
1.43
10.08
7.76
2.32
6.83
15.37
38.45
1.66
1.49
1.98
1.49
10.24
7.64
2.60
6.42
15.17
38.91
1.57
1.29
2.69
1.65
9.82
7.50
2.32
6.67
15.22
40.35
1.52
1.34
2.87
1.75
10.63
7.74
2.89
7.34
14.91
42.53
1.83
1.68
2.89
1.87
11.52
8.62
2.90
7.74
15.00
42.78
1.88
1.76
2.22
1.66
11.68
8.71
2.97
7.92
15.67
44.80
1.89
2.06
2.23
1.65
11.48
8.98
2.50
8.71
16.78
45.46
1.85
1.94
2.80
1.63
11.80
9.36
2.44
8.76
16.67
45.78
1.92
1.74
2.94
1.37
12.14
9.77
2.37
9.14
16.52
49.84
50.09
47.79
1.89
1.78
1.84
1.87
1.93
1.88
2.89
3.48
2.88
1.30
1.26
1.12
14.62
14.34
12.72
11.92
11.82
10.15
2.70
2.52
2.57
10.38
16.98 2 27. 05 227.53
15,355 pl5 890
10,241 plO, 714
P432
258
2,499 P2,280
2, 357 "2, 464
Corporate profits and inventory valuation adjustment total
bil $
By broad industry groups:
Financial institutions
do
Nonfinancial corporations total
do
Manufacturing total
do
Nondurable goods industries
do
Durable goods industries
do
Transportation, communication, and public
utilities
bil $
All other industries
do
Corporate profits before tax total
do
Corporate profits tax liability
do
Corporate profits after tax
do
Dividends
do
Undistributed profits
do
Inventory valuation adjustment
do
Net interest
do
DISPOSITION OF PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income total
bil $
Less* Personal tax and nontax payments
do
Equals: Disposable personal income
do
Less: Personal outlays®
do
Equals: Personal saving§
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals :t
All industries
...
...
bil. $
Manufacturing
._ . do
Durable goods industries 1
. . do
Nondurable goods industries t
do
Nonmanufacturing _ .
Mining . . . .
Railroad.
Air transportation
Other transportation
Public utilities
Electric
..
Gas and other
Communication
Commercial and other
Seas. adj. qtrly. totals at annual rates:f
All industries
.
Manufacturing .
Durable goods industries f _
Nondurable goods industries 1
Nonmanufacturing
Mining. . . .
Railroad
Air transportation
Other transportation .
Public utilities
..
Electric
Gas and other. _
Communication
..
Commercial and other
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
... .do. . .
do
do
U.S. BALANCE OF INTERNATIONAL
PAYMENTSd*
Quarterly Data Are Seasonally Adjusted
(Credits +; debits -)
Exports of goods and services (excl. transfers under
military grants)
mil. $__
Merchandise adjusted excl militarv
do
Transfers under military sales contracts
do
Income on U.S. investments abroad .
do
Other services
.
do
Imports of goods and services
do
50, 626
33,588
1,396
7,690
7,952
55, 516
36, 473
1,514
8,839
8,690
11,694
7,601
341
1,888
1,864
11,932
7,946
302
1,765
1,919
12,685
8,386
344
1,990
1,965
13, 295
8,878
393
2,000
2,024
12, 714
8,378
357
1,935
2,044
11, 948
7,472
391
2,089
1,996
14, 291
9,585
313
2,150
2,243
14,565
9,581
458
2,286
2,240
14, 712
9,835
352
2,314
2,211
-40, 991 -48, 127
-26, 821 -32,964
-4,378 -4,535
-2,362 -2, 932
-7,430 -7,696
-53,566
-35,835
-4,850
-4,463
-8, 418
-10, 703
-7, 154
-1,112
-607
-1,830
-11,477
-7,820
-1,103
-677
-1,877
-11,832
-8, 132
-1,112
-732
-1,856
-12, 444
-8,569
-1,147
-761
-1,967
-12, 374
-8, 443
-1,173
-762
-1,996
-11,618
-7, 576
-1,198
-905
-1,939
-13, 978
-9,606
-1,187
-1,071
-2, 114
-13,909
-9,263
-1,220
-1,240
-2, 186
-14,061
-9,390
-1,245
-1,247
-2, 179
46,204
30,681
1,239
6,872
77412
Military expenditures
.. . do
Income on foreign investments in the U.S__do
Other services
do
Unilateral transfers, net (excl. military grants);
-629
transfers to foreigners ( )
mil $
-643
-2, 970 -2,829 -2,835
r
Revised.
p Preliminary.
1 Estimates (corrected for systemati 3 biases) for Jul
.
Expect
Sept. 1970 and Oct.-Dec. 1970 based on expected cap ital expen ditures of business
expenditures for the year 1970 appear on p. 18 of the Sept. 197() SURVEY
2Inc ludes coiTlmunication.
fSee corresponding note on p. S- 1.
9 In eludes in ventory valuati 3n
adjustment.
J Revised series; explanation of revi sions and annual <ind qua rterly da ta
back to 1947 appear on pp. 25ff. of the Jan. 1970 SUR\ EY; see a so pp. 19 ft. of th 3 Feb. 19 70
SURVEY.
ePersonal outlays comprise personal co nsumptio n expendi tures, in terest palid
5
-14,504
-9,723
-1,178
-1,348
-2, 255
25.4
p-14, 771
p-9. 867
P- 1,247
p- 1,328
p-2, 329
p-754
-721
-739
-690
-812
-612
-768
-757
-675
§Personal saving is excess
by cc nsumers , and per sonal trsmsfer pa yments t o foreigners.
of dis posable income o ver pers(mal outl ays.
ID ata for iridividua durable and noridurable goods im Lustries (jomponeiits appear in the
cfJVfore conaplete de tails are given in
Mar. June, S ept., anc Dec. iss>ues of tl:le SURVE,Y.
thea q uarterly reviews n the M ir., June Sept., a nd Dec. issues of the SUR^SrEY.
era!
pers(
mnel.
,
for
Fed
stive
paj
r
increase
eludes
tl
le
retroa<
ln
SURVEY OF CURRENT BUSINESS
October 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
1967
1969
1968
Annual total
1967
IV
S-3
1968
I
III
II
1970
1969
I
IV
II
IV
III
II
I
III
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. Oovt. 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
Balance on transactions in U.S. and foreign liquid
and nonliquid assets, incl. reserves
mil. $..
Allocations of special drawing rights (SDR) do
Errors and omissions, net
do
Balance on liquidity basis: If
Including allocations of SDR
do
Excluding allocations of SDR
do
Balance on official reserve transactions basis: ©
Including allocations of SDR
do
Excluding allocations of SDR
do
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes areas shown in
the 1969 edition of BUSINESS STATISTICS
-5,637 -5,412
-435
-1,686 p- 1,813
-980
-889
-641
-650
-458
-444
p-390
264
p 805
-1,429 -1,585 -1,714 -1,213 -2, 151
-691
-723
-642
-528
-375
-880
-1, 187
-181
904
-137
-571
-1,076
-48
-299
-686
-154
9,409
709
8,700
12, 332
8,199
4,133
2,389
1,917
472
2,562
31
2,531
2,253
426
1,827
3,586
912
2,674
3,174
1,400
1,774
4,513
4,100
413
3,276
2,965
311
1,369
-266
1,635
1,679 p 1,547
p398
1,117
562 p 1, 149
3,728
-321
421
1,478
1,422
960
-132
8 -1,196
-922
-927
P149
-187
P217
217
-144 p-729
52
-1,154
849
-1,088
-514
-3, 544
-3,544
171
171
-3, 418
-3, 418
1,641
1,641
1968
-684
-2, 184
-2, 419 -2,268
6,853
3,492
3,361
-5, 233 -1,838
505
-25
-329
-7,012 -1,736
-7,012 -1,736
-244
-244
-2, 841
2,700
2,700
-976
-976
-61
-61
354
-528
-431
335
106
106
145
145
1,652
1,652
408
408
164 -1,352 -3,801 -2, 279
164 -1,352 -3,801 -2, 279
-358
-358
1,453
1,453
1,315
1,315
-582
-582
Aug.
Sept.
Oct.
204
420 -1,381 p- 1,203
420 -1,598 p- 1,420
514 -2,886 p-1, 761
514 -3,103 p- 1,978
1970
1969
1969
Annual
1,008
-660
1,668
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.p
811.8
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME, BY SOURCE f
Seasonally adjusted, at annual rates: t
Total personal income
bil. $
Wage and salary disbursements, total
do
Commodity-producing industries, total.do
Manufacturing
do
Distributive industries
do
Service industries
Government. ._ _.
Other labor income
Proprietors' income:
Business and professional .
Farm
do
do
do .
do
do
Rental income of persons... ..
do
Dividends
do
Personal interest income
do
Transfer payments
do
Less personal contributions for social insurance
bil.$Total nonagricultural income
do
688.7
748.9
758.5
763.1
766.7
770.6
774.3
777.8
781.5
787.6
806.0
799.7
798.2
803.3 '806.4
464.8
181.5
145.9
109.2
509.0
197.5
157.5
119.8
516.9
200.0
159.9
121.6
520.0
200.9
160.4
122.2
522.7
201.8
160.9
123.1
525.2
201.9
160.0
124.1
528.0
203.8
161.6
124.1
529.5
202.2
160.8
125.4
531.1
202.0
160.0
125.7
535.0
203.9
161.3
126.7
539.9
202.3
160.0
126.0
540.5
200.9
159.2
127.2
538.1
201.3
159.5
127.9
541.5
202.1
160.1
129.1
78.4
95.7
24.9
87.7
104.1
27.6
88.6
106.7
27.9
89.6
107.3
28.2
90.0
107.7
28.3
91.0
108.1
28.5
91.6
108.5
28.6
93.1
108.9
29.0
94.1
109.3
29.3
94.6
109.8
29.6
95.1
116.5
29.8
95.5
116.9
30.0
95.7
113.2
30.3
96.8
113.5
30.6
'97.3
114.2
30.8
97.8
117.0
31.1
49.1
15.0
50.5
16.4
50.9
16.6
51.0
16.7
50.8
16.7
50.5
16.6
50.4
16.6
50.4
16.8
50.6
17.0
50.7
17.2
51.0
16.9
51.3
16.5
51.5
16.2
51.6
16.2
51.7
'16.1
51.8
16.1
21.3
23.3
54.0
59.0
22.0
24.7
59.7
65.1
22.1
24.9
60.1
65.5
22.1
25.2
60.5
65.9
22.2
25.2
61.2
66.3
22.3
25.3
62.0
66.9
22.4
25.0
62.6
67.7
22.5
25.1
63.0
68.8
22.5
25,2
63.4
69.7
22.6
25.2
63.7
71.1
22.6
25.2
64.2
84.1
22.6
25.3
64.5
76.6
22.7
24.7
64.8
77.6
22.7
25.2
65.3
78.1
22.7
25.3
66.0
78.6
22.8
25.5
66.7
79.4
22.8
26.0
26.4
26.5
26.7
26.7
26.9
27.3
27.3
27.5
27.7
27.7
27.6
27.8
28.0
28.2
740.6
744.1
747.9
751.6
755.0
758.4
764.3
783.0
777.0
775.7
'
'
'
'
546.6
543. 2
202. 0 201.9
159.9
159. 6
129. 7 129.9
780.9 ' 784. 0 789.4
668.2
726.7
736.1
47,680
51,023
5,011
5,771
5,826
5,106
4,577
4,215
3,340
3,513
3,443
3,286
3,477
r 4, 051
44, 218
18, 734
25, 484
5,955
15,363
3,828
47, 229
18, 790
28, 439
6,172
17, 521
4,423
3,821
1,468
2,353
501
1,449
382
4,527
1,957
2,570
497
1,650
402
5,479
2,614
2,865
515
1,897
433
5,085
2,651
2,434
495
1,498
423
4, 544
2,129
2,415
525
1,422
441
4,159
1,643
2,516
537
1,526
422
3,316
1,001
2,315
504
1,429
351
3,501
919
2,582
547
1,635
372
3,381
861
2,520
558
1,598
327
3,269
869
2,400
585
1,455
323
3,460
1,139
2,321
543
1,437
315
r 3, 847 ' 3, 819
' 1, 525 ' 1,548
2,322 2,271
538
527
1,392
1,369
371
354
4,585
2,076
2,509
512
1,594
382
137
135
138
146
136
154
142
127
152
168
169
166
203
226
186
188
230
158
168
184
156
154
142
163
123
87
150
130
80
167
125
75
163
121
75
156
128
99
150
143
132
150
141
133
147
170
180
163
126
129
124
126
129
124
122
122
121
143
157
133
179
220
149
168
227
124
148
187
119
133
148
122
98
80
111
100
68
125
98
59
127
97
59
126
108
88
123
124
129
121
123
125
122
143
156
133
FARM INCOME AND MARKETINGS t
Cash receipts from farming, including Government
payments total J
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: t
All commodities
1957-59=100Crops
do
Livestock and products
do __
Indexes of volume of farm marketings, unadjusted :J
All commodities
1957-59=100Crops _
do
Livestock and products
do
6,023
INDUSTRIAL PRODUCTION rf
Federal Reserve Index of Quantity Output
Unadj., total index (incl. utilities) d" -1957-59 = 100By industry groupings:
Manufacturing, total .
do
Durable manufactures
. .
do
Nondurable manufactures.. .
do
Mining
do
Utilities
do
By market groupings:
Final products, total
Consumer goods
_ __
Automotive and home goods
Apparel and staples
Equipment, including defense
do
do
. do.. _
do
do
165.5
P 172. 8
174.6
179.2
177.8
173.6
169.6
168.2
171.5
172.1
170.6
169.1 ' 172. 1 ' 163. 9 ' 169. 2
170.5
166.9
169.8
163.3
126.6
202.5
P 173. 9
» 176. 5
P 170. 6
P130.2
p 221. 2
174.3
173.6
175.0
132.3
180.0
181.5
178.1
132.9
179.5
181.5
176.9
132.7
175.0
175.4
174.5
132.9
169.6
172.6
165.9
133.1
167.5
169.1
165.6
130.1
171.3
172.0
134.1
172.2
173.5
170.6
134.0
171.0
170.5
171.7
135.0
168.9
169 4
168.4
137.9
' 161. 7
'159.7
'164.2
'130.4
'166.5
' 160. 4
' 174. 1
' 139. 2
168.0
162.7
174.6
140.9
165.1
156.9
175.0
151.2
182.6
P 170. 8
P 162. 5
p 179. 5
p 157. 1
P188.6
173.4
166.3
160.4
168.2
188.5
179.2
172.6
186.9
168.0
193.4
176.5
169.4
192.1
162.2
191.8
170.0
162.6
175.9
158.4
186.0
166.2
156.6
167.4
153.1
187.0
167.1
159.0
165.1
157.1
184.3
170.5
163.0
171.5
160.3
186.5
169.9
161.8
176.3
157.2
187.3
166.9
160.6
175.5
155.9
180.3
165.8 'r 169. 9
165. 7
160.3
181.2
176.0
155.3 ••160.8
177.7 ' 179. 0
' 161. 9
' 157. 7
'154.0
158.9
' 170. 9
' 167. 9
'166.8
' 153. 1
169.5
169.4
168
' 170. 3
169.6
178.9
Materials
do
179.2
165.8 P 174. 6
175.6
169.7
Durable goods materials
do
170.2
166.2
157.8 P165.5
188.4
Nondurable materials
do....
174.1 P183.9
185.3
188.5
r
1
Revised.
p Preliminary.
§ See note "rf " on p. 8-2.
^Increase in U.S. official
reserve assets and decrease in liquid liabilities to all foreigners.
©Increase in U.S. official
reserve assets and decrease in liquid and certain nonliquid liabilities to foreign official agencies.
fSee corresponding note on p. S-l.
tSeries revised beginning 1967; monthly data
na7
' 171. 8
' 171. 3
' 172. 3
' 137. 6
174.0
174.3
172.1 ' 174. 1 ' 165. 7 ' 170. 5 171.4
172.5
169.5
172.6
176.9
155
158.4
161.3
159. 5 ' 162. 0 ' 152. 8 ' 155. 4
160.4
156.8
161.8
166.3
188
186.9
187.1
185.1 '186.6 ' 178. 9 186.0
188.5
182.5
183.7
187.8
prior to May 1969 are shown in the Farm Income Situation, July 1970, available from the
U.S. Dept. of Agriculture, Economic Research Service.
(/"Revisions for Jan-Oct. 1968
will be shown later.
9 Includes data for items not shown separately.
October 1970
SURVEY OF CURRENT BUSINESS
S-4
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
1968
1969"
Annual
1969
Aug.
Sept.
Oct.
1970
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.*
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PROD UCTIONd"— Continued
Federal Reserve Index of Quantity Output— Con.
Seas, adj., total index (incl. utilities) d*. 1957-59 =100.
By industry groupings:
Manufacturing, total—
do
165.5
172.8
174.3
173.9
173.1
171.4
171.1
170.4
170.5
171.1
170.2
169.0
166.9
173.9
175 4
175 2
173 9
171 8
171 3
170 2
170 3
170 8
170 0
168 1
r
168.8
169.2 '168.9
166.0
168. 0
168.4 ' 167. 6
164.0
167. 3 ' 166. 2
145. 2
145.5
136. 8 ' 134. 0
111. 2
169.8
160.9
146
134
do
do
do
do
169.8
137.0
130.7
160.0
176.5
149.1
140.3
181.1
178.8
151 3
141. 1
177.9
178 7
149 3
141 4
178 6
177.3
150 4
141 5
178.7
172.1
150 3
142 7
183 1
171 1
147 7
138 8
181 1
169 7
143 1
135 2
174 8
169 6
139 2
129 8
177.3
171 0
141 9
134 4
183 6
168.4
138 9
133.0
175.4
167 6
142 6 r'
136 7
174 4 '
167.3 rr
142 7
138. 8 rT
169. 2
do
do
167.9
162.2
179.8
173.3
180.6
171.5
179.1
171.5
179.4
172.5
179.2
174.5
178.4
177.1
180.0
175.4
178.9
174.6
178 3
174.4
175.2
170.2
171.4
164.2
172.3 ' 172. 9 171.4
164.4 ' 162. 9 ' 163. 1
do
do
do
184.3
181.0
188.5
195 7
194.6
197.2
199.4
195.5
204.5
201 2
199.8
202.9
199 0
200.3
197.3
187.4
194.9
177.5
188 7
196.5
178.3
189 7
195.9
181.5
195 8
195.8
195.9
199 1
196.6
202.5
194 9
191.7
199.1
191 0
187. 1
196.3
190 6
185.2
197.7
191.4 ' 190. 5
185. 2 ' 183. 5
' 199. 7 r 199. 8
187
180
196
Transportation equipment 9 . _
Motor vehicles and parts
Aircraft and other equipment
do
do
do
179.5
171.4
185.0
174.6
166.9
177.8
179.1
174.1
180.3
178.8
170.5
182.6
175.7
167.9
179.6
168.3
159.9
171.9
163.9
152.0
170.7
159.6
146.8
166.7
154.3
142.1
161.4
156.0
148.9
159.1
153.1
148.0
154.1
157.3
158.5
153.0
159.9 r 158. 1 ' 155. 9
164.4 '164.8 '164.6
153.3 ' 149. 7 ' 145. 7
139
131
143
Instruments and related products
Clay, glass, and stone products
Lumber and products
Furniture and
fixtures
Miscellaneous manufactures
do
do
do
do
do
184.2
146.2
122.3
178.3
161.4
194.4
156.0
119.1
186.9
166.4
194.9
155.3
114.1
186.5
165.8
195.4
157.7
111 1
185.3
165.3
193.9
156.3
113 8
184.0
165.3
196.0
155.9
114. 1
183.7
166.4
197.4
157.4
109 7
183.3
167.2
194.8
154.5
118 0
183.4
168.2
194.0
155.0
117 5
179.4
168.4
193.6
151.7
113 1
180.4
167.8
195.4
154.6
115 5
179.5
167.4
191. 3 ' 187. 9 ' 187. 0 ' 183. 2
152.6 ' 149. 4 ' 148. 9 ' 149. 0
116 1 ' 107 6 r 105 3
172. 5
172.7
174.4
173.8
162.6 ' 162. 0 ' 158. 4
163.6
181
150
Durable manufactures 9
Primary metals
Iron and steel
Nonferrous metals and products
Fabricated metal products
Structural metal parts
Machinery.
Nonelectrical machinery
Electrical machinery
_
T
r
r
T
Nondurable manufactures
Textile mill products .
Apparel products
Leather and products
Paper and products. .
do
do
do
do
do
163.3
151.5
149.9
111.0
163.8
170.6
154.2
149.2
101.9
175.6
171.3
153.0
148.8
100.0
177.5
170.9
151.6
146 1
97.7
177.5
169.5
152.1
146 5
101 1
177.1
171.5
151.9
148 0
102 7
175 9
171.5
150 3
147 9
98 0
178 0
171.0
152.9
145 8
96 9
173 8
171.3
151.3
141 7
96 9
174.8
170.6
150 3
140 1
95 9
174 9
171.9
151.3
140 8
100.2
176.3
168.7 ' 168. 9
147 8 T' 145 9
139 0
137 7
104 5 r T 99 3 r
170 8
174 5
Printing and publishing
Newspapers
do
do
149.6
136.1
156.3
142.7
158.2
144.4
157.3
143.3
156.9
143 0
159.1
145.1
158.6
142 0
157.9
141 7
157.3
142 1
156.9
137 9
156.9
139.3
154.8
136 9
Chemicals and products
Industrial chemicals.
do
do
221.7
262.0
239.0
283.0
238.1
281.5
240 2
286.2
238 3
281.2
240.8
283.9
241 7
283 8
240 2
281 9
242 6
284 3
242 3
284 8
244 4
289.2
241 4
281 3
146 2
146 7
150.9
149 5
143 3
143 0
146 6
147 9
146 5
238.6
138 0
132 6
166 7
240.2
141.0
137.5
159.7
Petroleum products
do
139.6
143.8
144.5
Rubber and plastics products
Foods and beverages
Food manufactures
.
Beverages
do
do
do
do
222.0
136.4
132.7
156. 5
238.7
140.7
136.7
161.9
239.9
143.1
137.8
171.3
240.0
142 2
137.0
169.9
Tobacco products.
do
120. 9
117.3
114.8
118 6
113 8
do
do
do
do
do
do
126.6
118. 2
126.8
130. 5
126.4
137.8
130.2
117.7
129.3
132.0
142.0
144.7
131.2
122.1
130.2
132.4
142.3
142.8
131.6
114.7
133.1
135.6
133.1
144.3
130.2
115.7
130.7
132.8
141.1
139.6
do
do
do
202.5
211.5
174.1
221 2
233 0
174 1
222 6
234 4
185.4
222.5
234.1
186.2
do
do
do
165.1
156.9
175.0
170 8
162 5
179.5
172.7
164.2
182.4
174.3
174.8
173.8
175.4
168.4
173.7
173.2
162.8
186 8
184.0
180.2
180.3
do
do
do
do
151.2
139.5
154.5
132.6
do.
do
do
do
Materialscf
Durable goods materials 9
Consumer durable
_. _.
Equipment
. _
Construction
Nondurable materials 9
Business supplies _ _
Containers
General business supplies
_
147 5
247.2
141 1
139 5
149 6
142 9
140 5
125.1
117 8
133.9
123 0
131.3
135.2
162.6
146.1
r
134 8 r 135 5 r 134 9
126 6
134 2
124 3
131.9 ' 135. 1 ' 133. 6
135 8 r 137 5 T 136 9
151 8 ' 150 3 r 150 7
143 8
143 0
142 8
138.2
128 5
138.1
141 5
152.4
142 3
139.6
130
141
145
230 1
243 1
232 7
246 1
230 3
242 8
233 8
247 1
234 9 r 235 4 r 236 3 r 236 5
249 5
248 4 T 248 7
239 5
168 5
160 7
164.4
168 5
161 5
163.7
169 9
162 4
166.6
169 7
162 0
171.4
168 5
163 2
171.1
r
167 5 rT 166 8
167 7 r 167 1
164 2
163 2 r 162 8 r 164 7
'
173.5 ' 172. 7 179. 7 ' 179. 8
162 9
160 3
164
168.0
153.8
186.7
166.7
142.2
176.0
160 9
141 6
186 2
166 8
140.1
175 0
155 3
132 9
184 9
169 6
149.0
173 8
154 8
127 6
190 7
174 8
168.6
169 2
160 0
138 4
188 5
179 4
178.1
170 3
158.4
136.1
187 8
180.0
178.9
170.6
166 4
156 0
180 1
178 4
182.6
165 5
156.2
136.4
161.8
132.3
158.3
137.5
164.2
136.5
159 5
137 7
165.7
137 0
160 8
137 6
167.3
138 7
161 0
135 7
168.2
139 5
159 0
133 4
166.2
139 6
160.7
133 8
168.4
140 2
158 8
159 9 r 159 o
132 2
131 4 r 139 4
168.0 ' 166. 6 ' 166. 3
r
138
7
141 1
137 9
152.6
208.6
149.8
198.6
148.9
210.4
147.1
203.9
145.0
213.2
148.9
206.0
149.6
217.0
149 7
206.0
151 7
217.6
147 7
210 0
154 6
217.9
147 6
210 3
146
216
146
207
1
5
1
2
150.1
218.6
146.0
212.6
142
219
146
212
190.3
197.0
180.3
221.3
249.7
136.0
192.4
200.4
183.9
222.9
251.9
146.8
191.9
200.9
182.9
224.9
254.5
153.1
185.6
194.4
174.4
223.3
252.8
136.5
185 2
193 8
176.3
223 6
240 9
135.4
183 6
192 8
175.0
223 0
239 5
138.4
186 2
196 9
184.9
222 4
231 8
130 3
186 3
198 0
186.8
225 0
T
172 2
177 3 r 176 3 r 173 7
188 7
188 0 T 186 1 T 184 9
175.2 ' 174. 6 173.7
175.8
214 1
220 4 rr 218 3
220 4
207 3
205 5
216 8 r 213 8
126 0
127 4
128 6
168 5
181
134 6
179 9
193 0
182.1
223 4
215.4
130.4
174 6
165.5
163.9
191.9
152 4
175.9
167.3
169.5
195. 1
149.9
176.0
166.6
171.7
197.2
149.8
175 4
165.8
166.4
194 8
149 6
174.6
163.5
158.5
190.7
150.2
173 9
161.8
150.9
189 8
150 4
172 5
160.1
148.7
188 6
151 2
171 5
157.9
142.3
188 6
150 7
171 7
159.1
143 0
189 8
148 8
171 9
159.6
143.6
183 8
148 8
170 4 rr 171 2 r 171 8 r 170 9
157. 8 'r 158. 0 ' 156. 9
157.5
156.9
156 0
155 4
146 0
176 2
176 6 r 178 4
177 5
144 g
146 8 r 145 1 T 145 3
168 8
152
183.9
166.6
168 6
165.5
184.7
167.4
166 7
167.8
185.5
167.0
167 8
166.6
185.3
167 4
169 9
166.1
186.0
166.9
165 6
167.6
186.5
168 5
174 0
165 8
185. 3
167 5
173 7
164 4
185.5
166 2
169 3
164 7
184.7
164 8
165 0
164 7
184.6
164 5
166 2
163 7
mo
158.2
152. 0
134 9
133 0
200.2
216.7
note on p. S-3.
159.4
136 5
217.3
159.8
137 7
221.1
160.4
135 7
222.8
226.0
238.5
186.9
226.0
238.3
187.6
227 9
240 5
188 4
172.2
162.8
179.3
170.9
161.2
176.8
168.4
160.5
167.2
179.5
178.4
181.0
184.5
181.9
179.7
176.6
169.9
185.4
181.2
176.5
177.9
172.8
164.0
184.4
179.5
175.2
175.7
157.1
138 5
162.4
136.6
158.4
138.0
164.1
138.8
157.6
135.9
163.7
137.9
144.5
193.4
143.3
183.4
146.8
209.0
147.1
199.6
152.3
207.2
147.6
201.1
do
do
do
do
do.
do
182.6
184.7
168. 2
205.2
234.3
145.0
188.6
195.6
179.1
220.0
246.7
136.8
do
do
do
do
do
165 8
157. 8
164. 2
185 1
145.9
do
do
do
_ do
174.1
157 6
156 6
158.1
Business fuel and power9
do
Mineral fuels _
do
Nonresidential utilities
do
' Revised.
*> Preliminary.
cfSee corresponding
9 Includes data for items not shown separately.
145 5
116 8
131 7
113 1
131.4
133 7
155 7
142 6
Equipment, including defense 9 ...
Business equipment
Industrial equipment
Commercial equipment
Freight and passenger equipment,
Farm equipment. ._
r
135 1
121 5
132.4
133 5
165 8
150 1
117 8
134 4
119 3
132.6
135 0
152 3
154 8
Beverages an d tobacco
Drugs, soap, and toiletries
Newspapers, magazines, books
Consumer fuel and lighting
147 8
r
134 2
122 3
131.8
133 0
158 4
149 8
115 1
132.6
118.9
131.2
133.5
153.3
146.8
Apparel and staples
Apparel, incl. knit goods and shoes
Consumer staples
Processed foods
243 2 ' 242 5 238 3
285 0
285 8
122 8
116.2
Automotive products ... _.
do
Autos
..
do
Auto parts and allied products do
Home goods 9.-"do
Appliances, TV, and radios
do....
Furniture and rugs
do
152
212 2
227 8
143 1 rr 140 7
141 0
138 3
153 7
154 6
234.0
145 2
140 4
170 7
By market groupings:
Final products, totaled,
Consumer goods
Automotive and home goods
r
T
167.9
239.4
143 7
140.1
162.8
231.4
144 7
140 2
168 9
Utilities .
Electric
Gas
155.2 ' 154.6 ' 154. 4
140.0
138.7
137 5
171
157
235 3
143 3
140 0
161 0
234.8
142 1
137 4
167 2
Mining
Coal
Crude oil and natural gas
Crude oil_
_
Metal mining
Stone and earth minerals
169. 7 ' 169. 5
144. 9
144.9
140 3
95 6
170. 6
170.6
169
161
996 1
2
6 r
<J
3 T
183.8
162 1
159 1
120 7
r
r
126 6
r
r
r
170 3 ' 174 0 '
163 8
163 0
179 9 rT 187 3
181 0
177 7
178.8 'r 187. 7
164 5
164 9
141 9
142 6
217 4 r 217 4
r
142
q
147 6
213 7
219 8
184.9 ' 186. 0
163 4 T 167 5
166 0 r 168 0
162 1 T 167 9
173. 0
163 3
185 7
184 5
199. 8
164 9
141
109
167.0
140 0
167
213.8
143 5
185. 3
163 7
165 6
162 8
186
r
172
159.8
162.0
162.7
163.8
166.0
166.6 ' 166. 4 168. 9
14(>
135 3
137 1
137 4
139 1
142 4 T 141 7 T 145 9
14'^ 0
222.4
225.0
226.3
226.5
2^8. 1
228^6
229.4
f Revised data back to 1961 for mfg. and trade invent., total, unadj. and seas, adj.; invent.sales ratios for mfg. and trade, total and retail trade, total, durable, and nondurable, appear on
pp. 38 ff. of the Oct. 1970 SURVEY. Revised data back to 1961 for mfg. and trade sales, total
seas, adj.; mfrs. sales, and mfrs., invent., total, durable, and nondurable, seas, adj.; and invent.-sales ratios for mfg., total, durable, and nondurable are avilable upon request (see also
corresponding note on p. S-7).
160.4
136 5
220. 9
161.7
137 7
222. 5
October 1970
S-5
SURVEY OF CURRENT BUSINESS
196S
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
1969
Annual
1970
1969
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS SALES §
Mfg. and trade sales (unadj.), total f _ _
mil. $__ -•1,163,869 '1,245,058 ' 102,966 ' 107,360 '111,166 ' 105,487 ' 110,662 ' 97,486 ' 100,264 ' 106,480 ' 105,633 ' 107,931 ' 112,046 r 104,249 105, 874
do
'11,163,869 '1,245,058 ' 105,295 ' 106,078 ' 106,593 ' 105,566 ' 105,021 ' 104,932 ' 106,164 ' 105,487 ' 105,087 ' 106,847 ' 107,612 •• 108,393 108, 168
Mfg. and trade sales (seas, adj.), total t
Manufacturing, total f
Durable goods industries
Nondurable goods industries
do
do
do
Retail trade total
Durable goods stores
Nondurable goods stores
do
do
do
Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishments
do
_ . do
do
'1604,602
331, 835
272, 767
la 339 324
110,245
-229,079
1
'1656,717 ' 55,890 '56,609 '56,685 '55,888 ' 55,540 ' 55,070 ' 55,613 ' 55,223 '54,539 ' 55,661 ' 56,438 ' 57,025 56,903
364,983 31,548 31, 914 31,680 31,011 30,603 29,930 30, 273 29, 757 29, 633 30,488 30, 638 31,315 31, 320
291, 734 24,342 21, 695 25,005 24, 877 24, 937 25, 140 25,340 25, 466 24,906 25, 173 25,800 25, 710 25, 583
1351,633 29,346 29,259 29,620 29,471 29,419 29,570 29, 980 29,801 30,536 30, 502 30, 518 ' 30,729 30, 690
112,779
9,134
9,161 9,384
9,340 9,320 9, 411 r 9, 487 9,450
9,354
9,229 9,275 8,886
9,143
238,854 20, 185 19, 875 20,266 20, 242 20,144 20,684 20,837 20,667 21, 196 21, 182 21, 107 ' 21,242 21, 240
219, 943 » 236, 708
100,012 109, 578
119, 930 127, 130
20,059
9,178
10,881
20,210
9,304
10,906
20,288
9,359
10,929
20,207
9,352
10,855
20,062
9,102
10, 960
20,292
9,201
11,091
20, 571
9,344
11,227
20,463
9,300
11,163
20,012
9,034
10, 978
20,684
9,394
11,290
20,656 ' 20,639
9, 482 ' 9, 423
11, 174 ' 11,216
20, 575
9,342
11,233
BUSINESS INVENTORIES §
Mfg. and trade inventories, book value, end of year
or month (unadj.), total f.
mil $
r
151,327 ' 163,375 ' 158,898 ' 160,454 ' 163,229 ' 165,057 ' 163,375 ' 163,735 ' 165,650 ' 167,211 ' 168,961 ' 168,391 ' 168,014 ' 167,832 167, 274
Mfg. and trade inventories, book value, end of year
or month (seas, adj.), total f
mil $ ' 152,699 ' 164,917 ' 160,734 ' 161,841 ' 163,331 ' 163,763 ' 164,917 ' 164,698 ' 165,638 ' 166,149 ' 167,059 ' 166,734 ' 167,375 ' 168,635 169, 271
Manufacturing, total f
Durable goods industries
Nondurable goods industries
Retail trade, total t
Durable goods stores
Nondurable goods stores
Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishments.. _
do
do
do
do
do
do
do
do
do
r 88, 567
57, 399
31, 168
' 41, 604
' 18, 851
r 22, 753
22, 528
13,454
9,074
' 95, 931' 93,590
63,547 61,653
32,384 31, 937
' 44, 623 ' 43,535
' 19, 980 'r 19,399
' 24, 643 24,136
24,363 23,609
14, 579 14, 220
9,784
9,389
' 94,228
62, 100
32, 128
' 43,897
' 19,633
' 24,264
23,716
14, 182
9,534
'94,964 r 95 474
62,704 63,089
32, 260 32, 385
' 44,411 ' 44,268
' 20,044 ' 19,835
' 24,367 T 94 A.*¥\
23,956 24,021
14,365 14,389
9,632
9,591
' 95,931 '96,200 ' 96,652
63,547 63,909 63, 977
32,384 32, 291 32, 675
' 44,623 r 44 HI 4 ' 44,133
' 19,980 r 1 Q 149 ' 19,388
T 94 RA1 ' 24,672 ' 24,745
24,363 24,484 24,853
14, 579 14,636 14,788
9,784
9,848 10,065
' 96,982
64,263
32, 719
44,325
19,471
' 24,854
24,842
14, 781
10, 061
' 97,791
64, 689
33,102
' 44,326
' 19,426
' 24,900
24, 942
14, 773
10, 169
' 97,635
64, 447
33,188
' 44,109
' 19,346
' 24,763
24, 990
14,763
10, 227
' 97,706 ' 98,260 98, 339
64, 395 65, 079 65, 169
33, 311 33, 181 33, 170
' 44,527 ' 44,965 45, 453
' 19,552 ' 19,739 20, 119
' 24 975' 25,226 25, 334
25, 142 ' 25,410 25, 479
14, 855 ' 15,066 15, 231
10, 287 ' 10,344 10, 248
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, total f
_ _ ratio..
Manufacturing, total t
Durable goods industries t
Materials and supplies
Work in process
Finished goods
Nondurable goods industries f
Materials and supplies
Work in process
Finished goods
Retail trade, total J
Durable goods stores
Nondurable goods stores
'1.52
'1.53
'1.53
'1.53
'1.53
'1.55
'1.57
'1.57
'1.56
'1.58
'1.59
'1.56
'1.56
'1.56
1.56
do
do
do
do
do
'1.70
'2.00
.59
.92
.49
'1.69
' 1.99
.56
.93
.50
'1 67 '1.66
' 1. 95 '1.95
.53
.54
.92
.92
.50
.50
'1.68
' 1.98
.54
.93
.51
'1.71
'2.03
.56
.96
.52
'1.73
'2.08
.58
.97
.53
'1.75
'2.14
.58
.99
.56
'1.74
'2.11
.58
.99
.54
'1.76
'2.16
.60
1.01
.56
'1.79
'2.18
.59
1.02
.57
'1.75
'2.11
.57
.99
.55
'1.73
'2.10
.57
.99
.54
'1.72
'2.08
.56
.98
.54
1.73
2.08
.56
.98
.55
do
do
do
do
'1.33
.50
.62
'1.31
.48
.21
.62
'1.31
.48
.20
.62
'1.30
.48
.20
.62
'1.29
.48
.20
.61
'1.30
.48
.20
.62
'1.30
.47
.20
.62
'1.28
.46
.20
.62
'1.29
.47
.20
.63
'1.28
.47
.19
.62
'1.33
.48
.20
.65
'1.32
.47
.20
.65
'1.29
.46
.19
.64
'1.29
.46
.19
.64
1.30
.46
.19
.64
do
do
do
'1.43
'1.97
'1.17
'1.47
'2.05
'1.19
'1.48
'2.12
'1.20
'1.50
'2.09
'1.22
'1.50
'2.14
' 1.20
'1.50
'2.15
'1.21
'1.52
'2.15
'1.22
'1.49
'2.18
'1.19
'1.47
'2.12
'1.19
'1.49
'2.13
' 1.20
' 1.45
'2.09
'1.17
'1.45
'2.08
'1.17
'1.46
'2.08
'1.18
'1.46
'2.08
'1.19
1.48
2.13
1.19
1.20
1.54
.91
1.19
1.53
.89
1.18
1.55
.86
1.17
1.52
.87
1.18
1.53
.88
1.19
1.54
.89
1.21
1.60
.89
1.21
1.59
.89
1.21
1.58
.90
1.21
1.59
.90
1.25
1.64
.93
1.21
1.57
.91
1.22
1.57
.92
' 1.23
'1.60
.92
1.24
1.63
.91
14,944
17, 189
1,295
1,424
1,465
1,486
1,653
1,637
1,485
1,470
1,741
1,574
1,457
1,551
1,632
1,687
1,847
1,727
1,739
1,717
Merchant wholesalers, total
do
Durable goods establishments
do
Nondurable goods establishments
do
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Manufacturers' export sales:
Durable goods industries:
Unadjusted, total
mil $
Seasonally adj., total
do
9Q
1,779 ' 1, 829 ' 1, 583 1,512
1,671
1,722 ' 1, 774 / 1, 776
Shipments (not seas, adj.), total t - -
do
' 604,602
656,717
53,506
58,139 ' 58,586
55,928 ' 53,996 ' 51,622 ' 56,322 ' 57,173
Durable goods industries, total 9
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
do
do
do
do
331, 835
15,754
50, 457
24, 901
364,983
17, 219
57, 137
26, 493
28, 850
1,531
4,584
2,148
32, 336
1,592
4,946
2,262
32,564
1,604
5,026
2,316
30, 986
1,450
4,849
2,198
30, 149
1,335
4,651
2,121
27,953
1,250
4,931
2,365
30,853
1,356
4,957
2,213
31, 248
1,464
4,994
2,229
30, 499
1,471
4,724
1,960
31,300
1,529
5,071
2, 292
Fabricated metal products
Machinery, except electrical—.
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments and related products
do
do
do
do
do
do
34, 180
58,047
43, 237
84, 163
47, 638
11,370
37, 024
64,551
46, 726
91, 480
50,144
13,563
3,135
5,095
3,844
6,302
2,955
1,166
3,249
5,700
4,216
8,131
4,625
1,287
3,371
5,469
4,175
8,530
4,973
1,176
3,133
5,237
3,942
8,236
4,439
1,204
3,142
5,319
3,781
8, 050
3,865
1,213
2,969
5,017
3,386
6,668
3,666
1,035
3,222
5,805
3,835
7,627
3,924
1,159
3,246
5,844
3,870
7,630
3,898
1,223
3,096
5,593
3,747
7,834
4,033
1,112
Nondurable goods industries, total?
Food and kindred products
Tobacco products
Textile mill products.
do
do
do
do
272, 767
90,157
4, 922
21, 458
291, 734
96,717
5,121
21, 262
24, 656
8,159
453
1,852
25,803
8,708
454
1,884
26, 022
8,677
414
1,990
24, 942
8,3*3
438
1,847
23,847
8,414
431
1,647
23, 669
8,088
414
1,626
25, 469
8,506
407
1,761
25, 925
8,717
430
1,862
do
do
do
do
24, 208
46, 465
22, 267
14, 265
26, 951
48, 698
24, 555
16, 552
2,264
4,040
2,088
1,311
2,338
4,268
2,155
1,423
2,350
4,230
2,082
1,594
2,278
4,036
2,142
1,405
2,187
3,670
2,128
1,317
2,239
3, 797
2,167
1,390
2,386
4,243
2,167
1,571
2,430
4,392
2,085
1,618
Paper and allied products
Chemicals and allied products..
Petroleum and coal products..
Rubber and plastics products
_
Shipments (seas, adj.), total t
By industry group:
D urable goods i ndustries, 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
_
55, 055
32, 845
1,643
5,205
2, 386
27, 880
1,486
4,440
2,114
29, 153
1,590
4,705
2, 148
3,239
5,695
3,832
7,943
4,300
1,119
3,511
5,877
4,171
8,161
4,624
1,247
3,107
5,077
3,607
6,270
3,037
1,065
3,328
5,147
3,849
6,310
2, 927
1,147
25, 147
8, 396
439
1,729
25, 058
8,423
456
1, 709
26, 495
9,062
454
1,834
24,254
8,225
473
1,511
25, 902
8,641
473
1,750
2,347
4,310
2,118
1,519
2,328
4,376
2,139
1,537
2, 422
4,383
2,215
1,623
2, 237
3,889
2,126
1,463
2,380
4,178
2,208
1,493
do
55,890 ' 56,609 ' 56,685 '55,888 ' 55,540 ' 55,070 ' 55,613 ' 55,223 '54,539 ' 55,661 ' 56,438 ' 57,025
56, 903
do
do
do
do
*U,548
1,426
4,809
2,226
31,315
1,517
4,891
2,259
31, 320
1,481
4,941
2,292
do
do
do
do
do
do
31, 914
1,451
5,039
2,371
31,680
1,462
5,131
2,446
3,095 3,157 3,247
5,477
5,525
5,638
3, 959
3,959
3,949
8,154
8,577 8, 462
4,469
5,109
4,896
1.160
1.198
1.135
1
See corresponding note on p. S-ll.
i Based on data not seasonally
2
Advance estimate; total mfrs. shipments for Aug. 1970 do not reflect revisions
1 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
55,646 ' 56,358 ' 59,340 ' 52,134
31,011
1,480
5,064
2, 392
30, 603
1, 495
5,022
2,380
29, 930
1,464
5,080
2,413
30, 273
1,488
4, 739
2,134
29, 757
1,502
4,692
2,037
29, 633
1,443
4,426
1,780
30, 488
1,475
4,786
2,099
30,638
1, 519
4,834
2,201
3,265 3,323 3,291
3,032
3,178
3,204
3,249
3,295 3,220
3,189
5,520
5,567
5,418
5,350
5,596
5,301
5,505
5,423
5,594
5,427
3, 982
3, 995
3,820 3,723 3,655 3,783 3,719
3,835 3,993 3,962
8,027
7,857
7,562
7,484
7,843
7,705 6,783
7,150
7,549
7,361
4,328 4,525
3,905 4,124
4,082
3,904
3,573 3,738
3,563 3,806
1,138
1,168
1.175
1.184
1.205
1.144
1.137
1.161
1.170
1.175
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 and S-12.
tSee corresponding notes
on pp. S-4 and S-7.
JSee corresponding note on p. S-12.
9 Includes data for
items not shown separately.
SURVEY OF CUKKENT BUSINESS
S-6
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriotive notes are as shown
In the 1969 edition of BUSINESS STATISTICS
1969
| 1969
Annual
October 1970
Aug.
Sept.
Oct.
1970
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERSf— Continued
Shipments (seas. adj. ) f — Continued
By industry group:
Nondurable goods industries total 9 mil $
Food and kindred products
do
Tobacco products
do
Textile mill products
do
Paper and allied products
do
Chemicals and allied products
do
Petroleum and coal products
do
,Rubber and plastics products
do
By market category:
Home goods and apparel
Consumer staples
Equipment and defense prod., excl. auto
Automotive equipment _
Construction materials and supplies
Other materials and supplies
Supplementary series:
Household durables
Defense products (old series)
Defense products (new series)
Producers' capital goods industries
Inventories, end of year or month :t
Book value (unadjusted) total
Durable goods industries total
Nondurable goods industries, total
Book value (seasonally adjusted) total t
By industry group:
Durable goods industries total 9
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
- 24, 342 -24,695 - 25, 005 -24,877 -24,937 - 25, 140 -25,340 -25,466 - 24, 906 - 25, 173 - 25, 800 -25,710
8,513
8,547
8,330
8,510
8,759
8,211
8,339
8,587
8,541
8,837
8,118
8,538
424
433
434
428
444
445
459
427
454
417
444
459
1,731
1,782
1,819
1,792
1,784
1,757
1,771
1,740
1,818
1,736
1,751
1,783
2,280
2,361
2,242
2,265
2,285
2,356
2,298
2,325
2,338
2,326
2,316
2,418
4,114
4,237
4,055
4,143
4,164
4,244
4,116
4,006
4,000
4,200
4,166
4,168
2,132
2,162
2,121
2,076
2, 139
2,123
2,241
2,068
2,139
2,156
2,127
2,136
1,522
1,370
1,492
1,559
1,551
1,435
1,354
1,484
1,428
1,441
1,536
1,598
25, 583
8,602
446
1,700
2,360
4,185
2,184
1,541
- 4, 776 - 4, 778 - 4, 790 - 4, 557 - 4, 620 -4,511 - 4, 445 - 4, 446 - 4, 424 - 4, 585
- 10, 433 - 10, 569 - 10, 763 - 10, 726 - 10, 899 - 10, 889 - 10, 977 -11,141 - 10, 920 - 10, 870
- 9, 172 - 9, 304 - 9, 376 - 9, 339 - 9, 201 - 9, 019 - 9, 478 - 9, 193 - 9, 270 - 9, 483
- 5, 722 - 5, 522 - 5, 135 - 4, 671 - 4, 494 - 4, 159 - 4, 355 - 4, 199 - 4, 423 - 4, 523
- 4, 456 - 4, 484 - 4, 568 - 4, 614 - 4, 555 - 4, 515 - 4, 466 - 4, 440 - 4, 326 - 4, 452
-21,331 -21,952 -22,053 -21,981 -21,771 -21,977 -21,892 - 21, 804 -21,176 -21,748
- 4, 889
-11,222
- 9, 079
- 4, 789
-4,554
- 21, 905
- 4, 816
-10,918
- 9, 345
- 4, 966
- 4, 643
-22,337
4,722
10, 987
9,416
5,130
4,620
22, 028
2, 061 - 2, 143 - 2, 197
4, 515 - 4, 255 - 4, 097
2, 010 - 2, 003 - 2, 130
6, 252 - 6, 697 - 6, 446
- 2, 099
- 4, 192
- 2, 048
- 6, 727
2,034
4,274
2,096
6,650
98. 073 -97,921
64, 779 -64,838
33, 294 -33,083
97, 998
65, 021
32, 977
- 95, 931 - 93, 590 - 94, 228 - 94, 964 -95,474 -95,931 - 96, 200 -96,652 - 96, 982 -97,791 -97,635 -97,706 - 98, 260
98, 339
do
do
do
do
do
do
'1115, 551
196, 115
154, 048
148, 587
- 234, 291
rt57, 935
>-il24, 395
-1108, 385
-157, 175
'154, 130
-1254, 697
do
do
do
do
124, 915
146, 201
123, 915
68,' 757
-126,951
'150, 144
-124, 511
-175, 694
- 2, 240
-4, 171
- 2, 157
- 6, 455
- 2, 235 - 2, 225
- 4, 190 - 4, 351
- 2, 108 - 2, 089
- 6, 679 -6,417
- 2, 082
- 4, 457
- 2, 199
- 6, 381
- 2, 078
- 4, 476
- 2, 259
- 6, 275
- 1, 996 - 2, 028
- 3, 959 - 4, 328
- 1, 792 - 1, 924
- 6, 346 - 6, 554
- 2, 046
- 4, 292
- 1, 943
- 6, 379
-
do
do
do
88, 239
57,034
31, 205
95, 475
63,106
32, 369
93, 262
61, 541
31, 721
93, 415
61,643
31, 772
94, 755
62, 570
32, 185
95, 475
63, 106
32, 369
96 271
63, 702
32, 569
97, 504
64, 599
32, 905
98, 588
65, 285
33, 303
- 156, 010
94, 118
62, 173
31, 945
97, 181
64, 244
32, 937
98, 625
65, 222
33, 403
do
T 88, 567
do
do
do
do
57, 399
2,210
7,535
4,028
63, 547
2,472
8,033
4,300
61, 653
2,467
7, 926
4,264
62, 100
2,475
7,966
4,280
62, 704
2,473
7 975
4 272
63, 089
2,478
8,013
4,285
63, 547
2,472
8 033
4,300
63, 909
2,492
8 114
4,265
63, 977
2,527
8, 124
4,251
64, 263
2,535
8,254
4,358
64, 689
2,574
8,544
4,571
64, 447
2,573
8, 609
4, 589
64, 395
2,558
8, 598
4,608
65, 079
2,587
8,641
4,658
65, 169
2,638
8,689
4,694
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments and related products
do
do
do
do
do
do
6,273
11,332
8,575
13, 960
4,273
2, 170
6,598
13, 216
9,373
15, 584
4, 173
2,460
6,357
12, 577
9, 081
15, 113
4 129
2,422
6,430
12, 689
9, 198
15, 153
3 978
2 432
6 443
12 949
9, 280
15, 376
4 067
2 436
6,511
13, 110
9, 315
15, 431
4 087
2,447
6 598
13 216
9, 373
15, 584
4 173
2 460
6 695
13 267
9,404
15, 665
4 210
2 475
6,708
13, 345
9,493
15, 522
4 167
2, 509
6,745
13, 447
9, 551
15, 515
4 128
2 583
6 702
13 572
9, 587
15, 442
4 115
2 637
6,648
13, 618
9, 454
15, 309
4 040
2,681
6,633
13, 703
9,521
15, 190
3 977
2,674
6,697
13, 876
9, 690
15, 339
4 036
2,685
6,790
13, 801
9, 670
15, 255
4 000
2,671
By stage of fabrication:
Materials and supplies 9
Primarv metals _
Machinery (elec and nonelec )
Transportation equipment
do
rio
do
do
- 16, 634
2,791
4 829
3,403
- 17, 606 -16,959 - 17, 024 -17 101 -17,217 -17,606 -17,418 -17,702 -17,698 -17,570 -17,447 - 17. 438 -17,470
3,035
2, 790
3,012
3,034
3,046
2, 791
2,814
2,828
2 904
2,939
3,027
2 798
2 828
5 571
5 259
5 592
5 571
5 244
5 460
5 163
5 540
5 537
5 608
5 386
5 544
5 565
3 295
3,029
3 091
3 081
3 167
3 076
3 106
3 295
3 204
3 117
3 263
3 087
3 148
17,454
3,030
5,587
3,053
Work in process 9
Primary metals
Machinery (elec. and nonelec )
Transportation equipment
do
do
do
do
- 26, 327
v 529
9, 491
9, 192
r 29,
2
10
10
790 -29,007 - 29, 292 - 29, 552 - 29, 693 - 29, 790 - 29, 584 - 29, 965 - 30, 060 - 30, 309 - 30, 308 -30,263 -30,605
2 939
759
2 921
2 735
2 732
2 762
2 728
2 759
2 824
2 741
2 939
2 758
2 891
733 10 407 10 514 10 584 10 693 10 733 10 388 10 824 10 875 10' 946 10 940 10 984 11, 127
717 10 433 10 557 10 740 10 753 10 717 10 857 10 788 10 826 10 783 10 709 10, 641 10, 717
30, 590
2, 955
11,015
10, 665
Finished goods 9
Primary metals.. ... _
Machinery (elec. and nonelec )
Transportation equipment
do
do
do
do
T 14, 438
2,215
5 587
1,365
r 16 151 -15,687 -15,784 -16 051 -16, 179 -16 151 -16 907 -16,310 - 16, 505 -16,810 - 16, 692 - 16, 694 -17,004
2,667
6 847
1,541
17, 125
2,704
6, 869
1,537
-32 384 -31 937 -32 128 -32 260 -32 385 -32 384 -32 291 -32 675 -32 719 -33 102 -33 188 -33,311 -33,181
7 335
7 451
7 579
7 457
7 563
7 240
7 380
7 277
7 295
7 240
7 581
7 240
7 487
2 949
9 150
2 159
2 145
2 142
2 142
2 237
2 232
2 198
2 170
2 165
2 238
2 198
3,383
3,380
3 431
3 525
3 427
3 502
3 439
3*423
3 569
3 543
3 525
3 456
3 548
2 713
2,754
2 644
2 686
2 738
2 471
2 514
2 671
2 697
2 577
2 682
2 618
2 644
6 557
6 704
6 798
6 921
6 640
6 895
6 625
6 430
6 625
6 464
6 525
6 612
6 581
2 141
2,380
2 446
2 255
2 313
2 345
2 374
2 414
2 075
2 104
2 255
2 185
2 328
1 930
1 915
1 886
1 920
1 886
1 881
1 913
1 880
1 869
1 946
1 889
1 958
1 948
33, 170
7 272
2 171
3,375
2,752
6,895
2,426
1 914
r
l l 743 -11 803 - 11 997 -11 966 -11 821 -11 647 -11 818 -11 936 -11 950 -11 921 -11 910 -11,849
r 5 072 - 4 985 - 5 047 - 5 078 - 5 076 - 5 072 - 5 076 - 5 013 T 4 958 - 4 993 - 5 013 - 5 002 - 4 977
r 15 491 -15 209 -15 278 - 15 185 -15 343 -15 491 -15 568 r 15 844 -15 825 -16 159 -16 ?54 -16 399 - 16, 355
11, 849
4 937
16 384
- 9 930 - 9 847 - 9 813 - 9 892
- 12 565 - 12 554 -12 9587 -12 465
-26 185 -26 119 -26 41 -26 613
- 5 245 - 5 161 - 5 094 - 5 181
- 8 035 - 8 016 - 8 026 - 8 086
-35 831 - 35 938 -35 945 -36 023
10, 086
12 338
26 388
5 144
8 193
36 190
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 ... _
Consumer staples
Equip, and defense prod., excl. auto
Automotive equipment.
Construction materials and supplies
Other materials and supplies
Supplementary series:
Household durables
Defense products (old series) .
Defense products (new series)
Producers' capital goods industries
- 31 168
7 370
2 257
3 559
2 394
5 931
2 102
1 799
r 11 617
r 4 834
r 14 717
2,446
6 285
1 572
2,407
6 088
1 513
2 417
6 129
1 505
2 445
6 259
1 560
2 465
6 272
1 572
2 446
6 285
1 572
r 11 790
r 22 178
T 5 218
r 7 393
r 32 527
- 9 924 - 9 850 - 9
r 12 102 r 12 H5 - 12
T 25 862 -24 589 -24
- 5 299 - 5 265 - 5
- 7 980 r 7 801 - 7
r 34 764 -33 970 -34
do
do
do
do
r4
r 11
T 7
T 14
- 5 097 - 5 053 - 5 099 - 5 104 - 5 114 - 5 097
r 13 173 - 12 632 - 12 840 - 12* 973 - 13 036 -13 173
- 7 459 - 7 707 - 7 780 r 7 730 - 7 602 r 7 459
r 16 353 -15 669 r!5 832 r 16 151 - 16 989 - 16 353
645
485
112
070
2 444
6 470
1 530
2 480
6 583
1 541
2 626
6 648
l' 542
2 636
6 595
1 513
2,631
6 632
1 520
r 11 821
do
do
do
do
do
do
r 9 461
2 386
7 024
1 545
918 - 9 949 - 9 947 r 9 994 - 9
199 -12 119 - 12 162 -12 102 r 12
971 -25 387 -25 612 - 25 862 -25
121 - 5 181 - 5 193 - 5 299 - 5
862 - 7' 901 - 7 948 - 7 980 - 7
157 -34 497 -34 612 -34 764 -34
-5
13
-7
r 16
r
895 - 9 896 - 9 845
126 - 12 374 -12 438
953 - 9 5 925 -26 003
337 - 5 299 - 5 255
979 - 8 005 - 8 006
910 -35 153 -35 435
142 - 5 153
150 - 13 044
498 - 7 994
449 - 16 58^
- 5 169 - 5 169 - 5 050 - 5 018 - 5 108
-13 015 - 12 941 - 12 872 -12 816 -12 906
- 7 326 - 7 359 - 7 189 - 7 104 - 7 143
r 16 715 -16 911 r 16 898 -17 026 -17 285
New orders, net (not seas, adj.), total t
Durable goods industries, total..
Nondurable goods industries, total
do
do
do
r
New orders, net (seas, adj.), totalf
By industry group:
Durable goods industries, total 9
Primary metals
Blast furnaces, steel mills.
do
ri608 038 rigsg 191 -55 779 -56 669 -56 430 -55 912 -55 138 -54 119 -54 714 -54 339 -53 374 -55 139 -55 778 -57 111
do
do
do
335 301
49 791
24, 379
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Aircraft, missiles, and parts
do
do
do
do
do
35 975
58 281
43 915
86 789
31 515
do
do
do
272 737
74 347
1Q8 son
Nondurable goods industries, total
Industries with unfilled orderse
Industries without unfilled ordersf
608 038 -659 191 r 53 107 - 58 598 - 58 049 r 55 372 - 53 549 - 51 356 -55 941 -56 352 -54 809 -54 909 -58 582 -52 422
335 301 367 482 28 526 32 819 32 056 30 430 29 740 27 766 30 492 30 412 29 594 29 825 32 147 28 171
272 737 291 709 24 581 25 779 25 993 24 942 23 809 23 590 25 519 95 940 25 208 25 084 26 435 24 251
367 482
58 491
27,281
37
66
47
89
30
736
966
030
418
952
291 709
80 276
91 1 433
31 463
5 145
2,492
3
5
3
$
2
29 977
4 874
2,234
30 028
4 932
2,302
31 399
4 894
2,387
205
544
794
040
572
3 238
5 149
3? 726
6 660
2 700
2 943
5 287
3 705
6* 386
2 048
3 391
5 468
4 052
6? 830
2 597
3 509
5 172
3 722
7 304
2 384
3 220
5 401
4 113
8 076
3 047
25 073
6 815
95 346
6 923
25 478
6 900
25 750
6 925
18 493
18 578
24 995
6 869
ia O5fi
95 162
6 810
18 9*8
18 359
18 895
25 712
7 129
18 583
2,498
31 048
4 7CK
2, 129
q qi a
3 988
5 596
4 125
7? 636
2 618
3 1 07
5 473
3 752
8* 215
3 171
3 389
5 570
4 126
6* 916
2 509
3 010
5 408
3 891
6* 460
2 193
24 994
6 859
ie 135
24 864
6 804
ia nfin
24? 929
6 761
18 IfiS
5 957
3 654
8 085
2' 359
24 316
6 678
94 683
6 732
17 051
C
not Se3on
newordprffnr A aiSS?n°in ndata
ally adjusted.
2 Advance estimate; total mfrs.
ot eflect revisi n
imr nnrp mi n Q ^g' 9o Tlclu
o s for selected components.
t See correspond1 /
mill
nrnrli
P?Q
in
^
J
?es
data
for
items
not
shown
separately.
0 Includes textile
products, leather and products, paper and allied products, and printing and publishing
28 449
4 739
2,036
31 436
106
596
825
358
757
17 R3S
98 861
4 547
1, 948
31 986
5 276
2,610
IQfi
30 209 29 046
4 fifi1 4 658
1, 963
1, 981
29 368
4 309
1,813
3
5
3
7
2
5
12
7
17
166
747
056
273
54 023
28 187
25 836
56 122
30 556
4 836
2,291
3
5
3
7
2
505
246
834
589
662
25 566
6,845
18. 721
industries; unfilled orders for other nondurable goods industries are zero.
IFor these industries (food and kindred products, tobacco products, apparel and related
products, petroleum and coal products, chemicals and allied products, and rubber and plastic
products) sales are considered equal to new orders.
SURVEY OF CUEEENT BUSINESS
October 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
S-7
1969
1969
Annual
Aug.
Sept.
1970
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERSf— Continued
New orders, net (seas, adj Of— Continued
By market category:
Home goods and apparel
Consumer staples
Equip and defense prod., excl. auto
Automotive equipment
Construction materials and supplies
Other materials and supplies
,
Supplementary series:
Hou sehold durables
Defense products (old series)
Defense products (new series)
Producers' capital goods industries
..mil. $..
do
_ do _
do
do
_ do --
'2 56, 060
2115,595
2
98, 601
••2 54, 553
2
49, 516
2233,713
'2 57, 779
'2124,360
••2109,426
'2 57, 315
'2 54, 710
••2255,601
'225,004 2' 26, 811
do
••247,412 1 2' 47, 317
do
'
i ' 23, 118
do . . 2
' 69, 647 ' 78, 640
do
Unfilled orders, end of year or month (unadjusted),
total
mil $
Durable goods ^industries, total
do
Nondur goods nd. with unfilled orders©
do
Unfilled orders, end of year or month (seasonally
adjusted), totalf
_
mil. $
By industry group:
Durable goods industries, total 9
do
Primary metals
_
do
Blast furnaces, steel mills
do .
85, 938
82, 946
2,992
88, 412
85, 445
2,967
' 86, 718 ' 89, 221
'4,709 ' 4, 745 ' 4, 741 '4,504
10, 430 ' 10, 567 ' 10, 766 10, 725
8, 939 ' 9, 301 ' 8, 975 '9,909
'5,708 ' 5, 527 '5,061 ' 4, 683
' 4, 469 ' 4, 690 ' 4, 628 ' 4, 616
21, 524 '21,839 '22,259 '21,475
r
' 4, 632
10, 898
' 9, 310
'4,453
'4,589
21,256
' 4, 497 ' 4, 405 '4,502 ' 4, 397
10, 885 ' 10, 976 '11,141 ' 10, 920
' 9, 125 ' 9, 431 ' 8, 551 ' 8, 262
' 4, 101 ' 4, 271 ' 4, 110 ' 4, 404
' 4, 202 '4,442 '4,453 '4,262
21,309 21, 189 '21,582 '21,129
4,727
11, 002
8,769
5,036
4,841
21, 747
r
2, 198
' 3, 447
' 1, 438
' 7, 086
'2,183 '2,032
' 4, 183 ' 4, 499
' 1, 893 rr 2, 347
'6,349
6, 744
' 2, 079 ' 1, 987 r 1, 986
'4,092 '3,648 ' 4, 018
' 1, 926 ' 1,901 ' 1, 744
'6,536 '6,542 ' 6, 627
89, 493
86, 435
3,058
89, 952
86, 918
3,034
89, 415
86, 410
3,005
88,859
85,854
3,005
88,412
85, 445
2,967
88,146
85, 258
2,888
83,902 '84,182
80, 921 '81,205
2,981 ' 2, 977
83,151
80, 239
2,912
89, 794 '89,854 '89,599 '89,623
89, 221
88,270 '87,371 '86,487 '85,322 '84,797 '84,146 '84,229
83,445
84,417
6,805
3,125
83,521
6,660
3,036
82, 337
6,973
3,292
87, 765
84, 827
2,938
'2,106
' 3, 985
' 1, 579
' 5, 998
'2,026 ' 2, 124
' 3, 425 '4,083
' 1, 381 ' 1, 893
' 5, 984 '6,302
86, 944
83,991
2,953
86,100
83,086
3,014
86,206
7,657
3,896
86, 735
8,025
4,267
86, 807
8,262
4,506
86 563
8,327
4,558
86,600
8,018
4,295
86,206
7,657
3,896
85, 322
7,235
3,446
do
. _ do _ _
do
do
__ do
9,969
14, 746
13, 110
33, 655
26, 939
10, 684
17,202
13, 406
31, 570
24, 293
10, 361
16, 493
13,200
32,882
25,648
10, 520
16, 812
12 905
32, 505
25, 172
10, 561
16, 883
13 071
31, 987
24, 822
10,544
16, 933
13,003
32, 359
24, 887
10,684
17, 202
13,406
31, 570
24,293
10, 399
17, 105
13,642
31, 247
23,891
10, 384
17, 055
13,653
30, 926
23, 503
10, 433
16, 777
13, 660
30, 436
23,256
Nondur. goods ind. with unfilled orders®, do. .
3,053
3,015
3,059
3,047
3,036
3,023
3,015
2,948
2,954
2,966
By market category:
r
2,209
Home goods, apparel, consumer staples . do
T
Equip, and defense prod., incl auto
do
47 078
Construction materials and supplies
do _. ' 10, 175
r
Other materials and supplies
do
27 256
Supplementary series:
Household durables . .
do . ' 1, 775
Defense products (old series)
do ... ' 33, 091
r
21 775
Defense products (new series)
do
Producers' capital goods industries
do _. r 22, 023
' 4, 843 '4,753
'11,215 ' 10, 915
' 8, 438 '9,804
' 4, 748 ' 4, 980
' 4, 657 ' 4, 498
'21,877 '22,161
' 2, 168
' 4, 012
' 1, 608
'6,294
83, 665
6,274
3,081
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Aircraft, missiles, and parts
'4,553
' 10, 867
' 9, 074
' 4, 334
' 4, 620
'21,691
84, 653
81, 612
3,041
'2, 163
' 3, 511
' 1,850
' 6, 281
'2,041
2,048
' 4, 773 3,997
'3,067
1,914
' 6, 411
6,130
81, 824
7,061
3,427
81,221
7,159
3,527
81, 301
7,162
3,656
80,533
7,057
3,655
10, 344
16, 714
13,530
29, 273
22, 201
10, 556
16,586
13, 587
28, 619
21,943
10,802
16, 344
13,350
28, 359
21, 599
10,699
16, 176
13,468
28, 578
21,850
10, 912
15,901
13, 317
28, 140
21, 688
2,985
2,973
2,925
2,928
2,912
' 2, 014 ' 2, 138 '2,103 ' 2, 057 '2,003 ' 2, 014 '1,996 ' 1, 955 ' 2, Oil '1,984 '1,949 ' 1, 899 ' 1. 827
'48 253 '48,076 '48 078 '47 603 '48 185 '48 253 ' 48, 301 '48 170 '47 439 '46,412 '45 812 '45 133 '45,607
10, 767 ' 10, 465 '10,671 '10 731 ' 10, 733 ' 10, 767 ' 10, 454 ' 10, 430 ' 10, 443 ' 10, 379 '10,546 ' 10, 648 '10,504
' 28 187'29 115 '29 002 '29 208 '28 702 '28 187 '27 519 '26 816 '26 594 '26 547 '26 490 '26 486 '26,291
1,846
44,863
10, 726
26 010
' 1,633 ' 1, 761 ' 1 724' 1 682' 1, 632 '1,633 ' 1, 624 '1,582 ' 1,642
' 30, 246 '31,499 ' 30, 756 '30,588 ' 30, 630 '30,246 '29,935 '29,625 '29,318
'r 20 372'21,423 '20 753 '20 557 '20 705 '20 372 ' 20, 481 '20 301 '19 937
24, 993 '24,030 '24 437 ' 24' 369 '24 732 ' 24, 993 '25,189 '25,262 ' 24, 881
1,507
27, 773
19,754
23, 221
r
'1,607
'28,228
'19 308
' 24, 613
' 1,589 ' 1 557' 1, 495
'28,054 '27,468 '28,049
'19 198 r Ig 917 ' 19, 936
'24,221 '24 059 '23,742
BUSINESS INCORPORATIONS^
New incorporations (50 States and Dist. Col.):
Unadjusted
number
Seasonally adjusted
do
INDUSTRIAL AND COMMERCIAL
FAILUREScf
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
233 635
274 267
20, 990
22,967
21 498
23 138
25 059
24 046
19 109
23 308
22, 849
22, 137
24,407
22, 072
21 796
23 249
22 901
21 091
23,706
21, 876
21 952
22 401
23 422
22 276
22, 831
22,264
9 636
1,106
1 670
1 513
4 366
9,154
1,159
1 590
1,493
4,070
702
86
126
108
303
79
726
90
124
110
338
64
815
90
145
136
350
94
759
115
134
131
313
66
748
87
105
146
351
59
734
84
114
140
342
54
817
84
155
164
335
79
921
113
153
180
394
81
992
137
174
167
419
95
891
109
164
145
388
85
912
143
132
157
396
84
916
126
123
191
398
78
940 996 1 142 113
87 289 126 537
212 459 171,717
291, 700 406, 450
220 223 265 122
129 325 172, 287
62 830
4 347
10, 293
19, 252
17 851
11, 087
842
981
3
38 6
2
37.3
36.0
73 698 116 443 127 138
9 416 13 696
7 938
10 173 21 151 13,033
18,412 28, 532 42, 799
24 016 34 647 21 192
11 681 18 417 42, 176
39 9
39 5
40 9
910
131
160
157
382
80
96 849 137, 282 139 388 120 021 131 898 147 888 170 498 251,920 169, 587
18 505 37, 608
7,770
7 679 21 137
9,289 16 680 29, 155 63, 931
6,968 20, 835 36, 504 13 258 17, 978 19,306 21, 229 29,049 15, 169
39, 162 42,260 66,589 46,399 39,958 83, 118 93,485 144, 516 44,034
21 800 24, 979 21 655 30 333 32 972 23, 774 29 232 30,134 27, 434
9,872 19,066 19, 019
10, 414 11,600
6,870 22,352 19, 853 12, 401
33.7
39.4
40 1
43.7
42 1
43.4
46.8
47.4
287
217
336
161
168
158
289
221
329
175
167
157
281
220
301
180
167
161
282
233
380
187
171
160
281
232
316
189
173
153
286
235
290
191
174
151
276
226
265
191
176
161
216
603
207
600
289
221
333
171
169
159
346
351
348
344
323
323
330
331
38.2
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS
Prices received, all farm products* 1910-14=100..
Crops9
_
do
Commercial vegetables
do
Cotton
do
Feed grains and hay
_
do
Food grains
do
Fruit
_
do
Tobacco
_
do
Livestock and products?
do
Dairy products
do
Meat animals
do
Poultry and eggs
do
Prices paid:
All commodities and services
do .
Family living items
do
Production items
do
All commodities and services, interest, taxes, and
wage rates (parity index) _
1910-14=100
Parity ratlog
do
261
229
302
192
159
160
316
567
288
318
275
220
298
173
166
154
252
594
323
331
346
142
400
162
310
335
324
351
355
373
292
73
304
74
277
217
267
173
167
145
275
211
262
164
166
152
282
221
362
180
162
158
284
215
318
169
164
159
254
606
244
615
228
612
221
601
330
325
331
342
329
351
343
354
402
163
334
355
398
186
410
200
420
197
326
355
327
356
328
357
330
360
421
156
324
352
304
374
74
409
165
325
354
304
375
73
'Revised.
* Preliminary.
1 Advance estimate; total mfrs. unfilled orders for Aug.
1970 do not reflect revisions for selected components.
2 Based on unadjusted data.
f Revised back to 1961 to reflect; revisions in the mfrs.' sales and inventories series and the retail
inventories series. Data for mfrs.' sales, invent., and orders have been revised back to 1961
to reflect new seas, factors and the introduction of a small number of other corrections. Revised data back to 1961, new seas, factors, and other technical data appear in a special Census
277
215
294
183
165
157
305
376
74
306
378
75
307
378
75
309
383
75
215
603
217
603
203
603
228
603
324
329
261
603
346
336
334
334
436
181
442
170
429
147
418
133
421
132
333
362
332
362
334
364
334
365
335
366
312
386
75
311
385
75
313
388
72
312
388
73
276
603
281
235
306
185
190
170
246
608
273
610
319
339
320
350
423
148
403
137
391
153
335
366
335
367
339
369
312
317
313
313
390
389
389
393
72
74
71
72
Bureau report entitled Mfrs.' Shipments, Inventories, and Orders: 1961-1970, Series M3-1.2.
0 See corresponding note on p. S-6.
9 Includes data for items not shown separately.
d* Compiled by Dun & Bradstreet, Inc. (failures data are for 48 States and Dist. Col.).
§ Ratio of prices received to prices paid (parity index).
J Revisions back to Jan. 1966
are available from the Dept. of Agriculture, Statistical Reporting Service.
SURVEY OF CURRENT BUSINESS
S-8
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
October 1970
1969
1969
Aug.
Annual
Sept.
Oct.
1970
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
COMMODITY PRICES—Continued
CONSUMER PRICES
(U.S. Department of Labor Indexes)
Unadjusted indexes:
All Items
Special group indexes:
All items less shelter
All items less food
All items less medical care
Commodities
Nondurables
Nondurables less food
Durables 9
Commodities less food
Services
Services less rent
Food 9
Meats, poultry, and
Dairy products
Fruits and vegetables
Housing _
Shelter 9
Rent
Homeownership
_
Fuel and utilities 9
Fuel oil and coal
Gas and electricity
Household furnishings and
Apparel and upkeep
Transportation
Private .
_ _
New cars
Used cars
Public
Health and recreation 9 .
Medical care
Personal care ...
Reading and recreation
121.2
127.7
128.7
129.3
129.8
130.5
131. 3
131.8
132.5
133.2
134.0
134.6
135.2
135.7
136.0
120.6
121.9
119.7
126.3
128.6
126.1
127.1
129.3
127.0
127.6
130.0
127.6
128.1
130.8
128.2
128.6
131.4
128.9
129.5
131.9
129.7
129.8
132.3
130.1
130.3
133.0
130.8
130.7
133.8
131.5
131.5
134.8
132.2
132.1
135.5
132.9
132.6
136.1
133.4
133.0
136.6
133.9
133.2
136.9
134.2
115.3
118.4
120.5
124.1
123.0
111.6
118.0
143.7
149.2
121.4
125.2
123.3
111.9
118.2
145.0
150.7
121.7
125.8
124.4
111.6
118.7
146.0
151.7
122.4
126.1
125.1
113.2
119.8
146.5
152.3
122.9
126.7
125.5
113.5
120.2
147.2
153.1
123.6
127.7
125.7
113.6
120.3
148.3
154.3
123.7
127.8
125.2
113.7
120.1
149.6
155.8
124.2
128.4
125.8
113.7
120.4
150.7
157.1
124.5
128.7
126.1
114.1
120.8
152.3
158.9
125.2
129.3
127.0
114.8
121.6
153.4
160 1
125.8
129.8
127.5
115.9
122.3
154. 1
161.0
126.2
130.0
127.7
116.7
122.8
155.0
161.9
126.5
130.4
127.8
116.9
122. 9
155.8
162 8
126.6
130.5
127.8
117.0
123.0
156.7
163 8
138.2
130.0
145.0
120.3
125.7
125. 5
123.2
124.5
128.4
126.7
133.6
118.8
139.4
112.9
117.8
111.5
117.9
127.1
124.2
121.3
102.4
125.3
148.9
136.6
155.0
126.2
130.5
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
127.5
129.0
125.5
126.8
128.6
136.1
119.7
142.6
113.3
118.1
112.0
119.0
128.7
123.6
120.5
99.5
121.4
150.3
138.4
157. 6
127.3
131.6
127.2
127.6
125.8
124.0
129.2
137.0
120.1
143.6
113.5
118.4
112.2
119.3
129.8
125.7
122.8
104.2
125.8
150.3
138.6
156.9
127.3
132.0
128.1
127.2
126.3
127.0
129.8
137.7
120.5
144.5
114.2
118.9
113.2
119.6
130.7
125.6
122.7
105. 1
124.9
151.1
139.1
157 4
127.8
132.3
129.9
127.2
127.6
132.1
130.5
13S.5
121.0
145.4
114.6
119.2
113.7
120.0
130.8
126.4
123.4
104.9
123. 9
153.0
139.6
158.1
128.1
132.7
130.7
128.8
128.4
130.9
131.1
139.6
121.3
146.8
114.6
119.7
114.1
120.1
129.3
127.3
123.3
104.7
120.7
165.1
140.1
159.0
128.5
133.1
131.5
129.7
128.8
132.4
132.2
140 9
121.8
148.5
114.9
120.6
114.6
120.8
130.0
127.3
123.3
104 6
117 8
165 4
140.7
160.1
129.0
133.2
131.6
130.2
129.4
133.1
133.6
142 8
122.3
150.9
115.6
120 8
114 8
121.6
130.6
127 1
123 0
104 4
117 6
165 8
141 4
161 6
129 6
133 6
132.0
130.9
129 5
134. 7
134.4
143 7
122 6
152 1
116 3
120 9
115 7
122.0
131 1
128 9
124 9
104 3
121 1
165 8
142 3
162* 8
1°9 8
134 4
132.4
130.5
129.9
136.8
135.1
144.7
123.0
153.3
116.4
121.0
115.8
122.5
131.9
129.9
125.9
104. 1
127. 5
166.6
142.9
163.6
130.3
135.2
132.7
130.2
130.2
139.4
135.6
145 6
123.4
154.4
116.2
121 2
115 3
122.8
132.2
130 6
126 7
103 8
132 0
167 8
143 7
164 7
130 2
136 1
133.4
130.8
130.6
137.5
136.2
146 2
123.8
155.0
117.2
122 3
115 7
123.0
131.4
131 4
127 2
103 7
131 8
170 8
144 3
165 8
130 6
136 6
133.5
131.0
130 8
135.0
137.0
147 2
124 2
156 2
117.7
122 9
116 4
123.2
131 5
130 6
126 4
103 5
199 2
171 0
145 1
166 8
131 3
137 1
195.7
192.8
197.8
i 108. 1
i 103. 1
i 111.8
110.9
105.2
115.0
111.6
103.6
117.4
111.3
105.4
115.6
111.9
106.8
115.6
112.3
105.6
117.2
113.8
106.2
119.4
114.3
106.6
120.0
114.6
108.4
119.2
114.0
107.5
118.7
112.7
105. 4
118. 0
111.5
106.2
115.3
110.6
107. 6
112. 8
110.6
109.2
111.6
109.8
108.2
110.9
do
' 108. 8
113.0
113.4
113.6
114.0
114.7
115.1
116.0
116.4
116.6
116.6
116.8
117.0
117.7
117.2
117.8
do
do
_do_
do
do
' 101. 2
108.0
111.3
109.9
' 115. 5
107.9
111.8
115.3
114.0
119.3
109.5
111.9
115.7
114.4
119.3
108.7
112.4
116.0
114.7
119.9
108.7
112.8
116.5
115.1
120.8
109.0
113.1
117.6
116.2
121.5
109.9
113.5
118.0
116.5
122.3
110.7
114.4
118.8
117.3
122.9
113.0
114.7
118.8
117.3
123.1
114.2
114.8
119.0
117.4
123.5
113.4
115.3
118.6
116.8
123.7
112.8
115. 7
118.7
117. 0
124.0
113.0
115.9
119.0
117.3
124.2
113.8
116.4
119. 7
118. 0
124.6
110.9
116.6
119. 1
117. 2
124. 9
112.5
116.8
119. 9
118. 1
125.3
do
do
do
do
do
111.8
106.5
'109.5
' 111. 1
106.9
116.6
110.3
113.3
116.6
110.1
116.5
111.1
113.6
116.4
111.0
117.1
111.1
113.9
117.0
111.0
117.9
111.2
114.6
117.9
111.4
118.4
111.9
114.9
118.3
111.6
119.0
112.4
115.3
118.8
111.9
119.6
113.4
116.1
119.4
113.0
120.0
113.9
116.4
119.7
113.2
120.5
113.9
116.6
120. 1
113.2
120.9
113.6
116. 9
120. 5
113.4
121.3
113. 6
121.5
113.8
117.4
121.3
113.6
121.6
114. 8
121. 5
114. 5
121.7
113.9
118.0
121.6
114.4
121.9
114.8
118. 2
121.8
114.6
1957-59-100
_
-
do
do
do
do
do_
-do
do
do
-do...
do
-
117.7
107.5
113.2
134.3
138.6
do. -.
-do
do
_
do
_ _.
do
do
do
do
do
do
_
_do __
operation... do
-do
.do
do
do
do
do
-do __
do
_ _ _
_do. __
do
fish
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
WHOLESALE PRICESd1
(17. 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 goodsO
... _ _ _
Consumer finished goods
Producerfinishedgoods ....
By durability of product:
Durable goods . _
Nondurable goods __
Total manufactures _
Durable manufactures
Nondurable manufactures
_
.
113. 4
do
' 107. 7
113.5
114.6
114.3
114.3
115.7
116.4
118.2
118.7
118.8
117.6
117.0
117.5
119.3
117.0
118.5
Farm products 9 _._
do
Fruits and vegetables, fresh and dried_-do
Grains.
_„
do
Live poultry
do
Livestock
do
102.2
' 108. 3
81.9
84.9
104.8
108.5
111.0
83.3
89.8
118.3
108.9
106.7
81.9
92.3
123 6
108.4
103.4
83.4
89.0
119.2
107.9
101.3
84.8
85.3
118.7
111.1
125.3
81.7
86.3
116.6
111.7
112.4
82.9
86.9
120.2
112.5
116.6
85.9
94.8
117.3
113.7
117.2
85.9
87.1
124.9
114.3
118.2
85.5
90.8
129.6
111.3
112.7
87.8
82.8
124.8
111.0
123. 5
88.4
83. 7
122. 2
111.3
122.2
89.2
77.9
123.0
113.1
112. 6
89.2
81. 9
126.2
108.2
99. 6
89.2
77.5
118.6
111.8
113.4
100.5
81.7
114. 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
' 114. 2
' 109. 5
' 118. 1
127.7
' 114. 2
108.3
119.8
112.9
120.2
131.9
115.7
119.5
121.5
112.6
120.1
133.0
116.8
124.5
121.3
113.1
120.4
133.4
116.6
122.9
121.6
115.0
121.2
130.7
116.0
120.2
121.8
116.0
121.9
131.2
116.3
120.5
122.6
116.1
122.0
133.9
116.4
121.9
125.1
117.4
122.3
133. 9
116.9
125.8
125.2
118.3
123.3
134.1
117.3
124.9
124.9
118.4
123.7
133.1
116.5
127.1
124.9
118.8
124.6
135. 1
117.5
124.9
124. 1
120. 3
124.6
135. 4
118. 1
122. 5
124.8
120.3
124.6
135.4
118.5
123.7
126.6
120.4
125.8
135. 7
118.9
126. 3
126.1
121.1
126. 5
136.2
119.6
122.5
126.2
121. 5
127. 9
135.8
120. 1
120.9
do
109.0
112.7
112.8
113.2
113.8
114.2
114.6
115.1
115.5
115.8
116.2
116.6
116.7
116.9
117.1
117.4
100.4
100.6
97.9
98.2
Qd. 7
100.5
91.8
98.0
94.8
108. 1
122.8
100.9
91. 0
98.8
95. 0
107. 7
122. 8
101.1
91.6
98.6
95.5
112.0
122.8
100.9
92.2
98.7
94.8
104.0
122.8
Farm prod., processed foods and feeds
Industrial commodities
98.3
89.8
97.7
93.8
88.7
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
98.6
86.3
97.6
94.0
98.9
120.3
98.9
86.7
97.8
94.2
100.5
120.3
98.8
86.7
97.8
94.6
92.8
120.3
99.1
87.6
97. 9
94.5
95.0
121.7
99.5
91.4
97.7
94.6
94.3
122.0
100.0
92.0
97.3
95.0
102.2
122.8
104.6
116.2
102.7
124.5
101.8
104.7
115.5
102.4
121.8
102.5
104.7
115.9
103.5
123.0
101.8
105.4
120.6
103.7
128.7
101.6
105.5
123.5
103.4
128.8
101.6
106.1
124.6
103.4
131.8
102.2
105.6
125.4
103.4
132.4
101.0
106.4
131.7
103.6
135.2
101.2
106.3
133.4
103.6
135.0
100.8
107.5
145.9
103.7
136.2
101.3
109.1
146.9
104.2
136.1
104.2
108.6
152.8
104.3
136.3
102.2
108.9
155.5
104.8
137.0
102.4
109.6
157.8
105. 5
137. 2
103.1
111.0
165.3
106.1
142. 9
103.8
106.4
106.5
106.1
106.2
Furniture and household durables 9
do _ . . ' 103. 9
93.0
93.0
93.1
Appliances, household
__ do ... '91.8
93.0
122.3
123.3
123.0
' 117. 3
123.0
Furniture, household
do
78.2
77.9
77.9
77.9
81.0
Home electronic equipment. _
_do ...
'Revised.
*> Preliminary.
i Computed by OBE.
9 Includes data for items not
shown separately.
cf For actual wholesale prices of individual commodities, see respective
106.9
93.6
123.6
77.7
107.2
93.6
123.6
77.8
107.5
94.4
124.3
77.2
107.9
94.4
125.1
77.2
108.1
94.7
125.3
77.2
108.3
94.8
125.6
77.0
108.3
94.9
125.9
77.0
108.6
94.9
126.0
77.0
108.8
94.9
126.3
77.2
108.9
95.1
126.6
77.2
109.0
95.0
126. 5
77.2
Chemicals and allied products 9
Agric. chemicals and chem. prod
Chemicals, industrial
Drugs and Pharmaceuticals
Fats and oils, inedible
_.
Prepared paint. .
do
do
do
do
do
do
.
98.2
'99.6
98.4
93.3
73.9
114.6
' 102. 5
Fuels and related prod., and power 9
do
Coal
do
' 107. 1
Electric power
Jan. 1958=100_- 'r 101. 6
Gas fuels.. _
do
123. 9
100.3
Petroleum products, refined
1957-59=100,.
commodities.
0Monthly data corresponding to revised annuals for 1968 will be available
later.
O Goods to users, incl. raw foods and fuels.
SURVEY OF CURRENT BUSINESS
October 1970
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
1969
Annual
S-9
Aug.
Sept.
Oct.
1970
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
COMMODITY PRICES—Continued
WHOLESALE PRICESd*— Continued
(U.S. Department of Labor Indexes— Continued)
All commodities®— Continued
Industrial commodities— Continued
Hides, skins, and leather products 9
1957-59=100..
Footwear
do
Hides and skins
do _
Leather
do
Lumber and wood products
do
I/umber
do _
119.5
128.0
'99.9
112.6
'119.4
' 127. 3
125.8
133.2
116.9
119.9
132.0
142.6
126.4
132.7
123.1
121.0
124.0
131.1
128.2
134.9
128.7
121.7
123.2
129.5
127.4
135.2
118.0
120.3
122.6
128.0
126.8
135.5
110.4
119.6
123.9
129.3
126.5
135.0
108.9
119. 7
122.5
128.2
126.6
135.9
102.8
119.6
121.6
126. 9
126.7
136.9
101.1
117.3
120.2
124.1
126.8
136.9
99.4
118.2
119.5
123.3
128.5
138.4
106.6
120.4
120.1
123.5
127.9
137.8
101.8
120 4
121.0
124.3
127.3
137.9
93.8
119. 8
120. 2
123. 0
127.1
137.9
90.8
119.8
119.6
121.8
127.1
137 9
92 8
118 9
120 2
123 0
127.3
138.8
93.8
116 8
120.4
124.1
Machinery and equipment 9
Agricultural machinery and equip
Construction machinery and equip
Electrical machinery and equip
Metalworking machinery and equip
do _
do
do
do
do
'115.4
' 127. 2
' 130. 2
' 103. 1
' 128. 7
119.0
132.8
135.5
104.8
133.4
119.1
132.3
134.9
104.7
133. 5
119.9
133.0
136.1
105.4
134.4
120.5
133.2
137.7
105.6
135.4
121.0
135.8
138.6
106.0
136.5
121.9
136.4
139.8
106.2
138.0
122.5
136.7
140.2
106.8
138.6
122.8
137.2
140.3
106.9
139.3
123.1
137.1
140.6
107.2
139.8
123.4
137.3
140.8
107.3
140.3
123.7
137.4
140.9
107.5
141 3
124.1
137.1
141.0
108. 2
141. 7
124.7
137.4
141.2
108.6
142.2
124 8
137.6
141.6
108 8
141 5
125.3
138.4
142.2
109. 4
141 5
Metals and metal products 9
Heating equipment
Iron and steel
Nonferrous metals
do
do._.
do
do _ _
112.4
'95.2
' 105. 6
' 125. 1
118.9
97.6
111.0
137.4
120.4
97.7
112.7
139.5
121.7
98.0
113.2
143.5
122.4
98.7
113.7
144.8
122.9
99.3
113.7
146.4
123.8
99. 7
113.9
150.1
124.9
99.7
114.6
152.8
126.1
99.9
117.0
152.8
127.0
100.5
117.7
153.4
127.8
101.3
117.3
157.1
128.7
101.7
118.9
157.2
129. 1
102.4
120.2
155.0
129.0
103.3
120.4
152.6
128 8
103.4
120 3
151. 1
128.7
103.8
120. 9
148.4
' 108. 2
112.8
113.0
113.5
113.8
113.9
114.5
116.5
116.9
117.3
117.8
117.9
117.9
118.1
118 5
118.7
'113.3
108.1
' 106. 5
'104.9
' 112 2
' 100. 2
'98.7
117.0
112.2
106.4
108.2
116.6
102.1
98.2
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
117.8
113.5
105.9
109.0
116 5
103.5
100.6
118.5
113.6
109.8
109.3
117.0
104.4
101.7
118.5
114.2
104. 3
109. 5
117 4
104.5
101.7
119.4
115.9
107.3
111.1
120.3
104.7
101.7
119.4
116.4
108.3
111.8
121 5
104^6
101.7
119.8
117.0
107.0
112.1
121 6
104.4
101.7
120.9
117.2
105.6
112.5
121 6
104.2
101.7
121.2
117.4
104.0
112.3
121 6
104.2
101.7
121.2
118.1
100.7
112. 2
121 7
104.1
101.7
121.3
118.3
100.7
112.5
121.9
105.6
107.5
121.3
118 9
104.7
112. 3
122 5
106.3
107.5
122.0
119. 7
99. 2
112.4
122 6
106.0
107.5
' 105. 8
Textile products and apparel 9 .
do
Apparel.._
_ ...do. . ' 110. 6
' 105. 2
Cotton products
. ...
do
90.8
Manmade fiber textile products
do
183.0
Silk yarns
_
_._do
103.7
Wool products
do
108.0
114.5
105.2
92.2
169.7
104.6
108.7
115.8
105.7
92.7
177.1
104.8
109.0
116.2
105.9
92.1
181.2
105.0
109.1
116.5
105.8
91.6
183.9
104.5
109.2
116.7
106.0
91.5
184.6
104.6
109. 2
116.9
106.1
91.1
191. 1
104.3
109.5
117.2
106.1
91.5
193.5
104.3
109.4
117.5
106. 1
91 0
196 3
104 3
109.5
117.9
105.8
90.4
194. 2
104.4
109.3
117.9
105.8
89.9
201.3
104.0
109.3
118.0
105.8
89.5
204.8
103.8
109.3
118.4
105.9
89.0
199.5
102.8
109.2
118.4
105.8
88.4
201.0
102.6
109. 5
119. 0
106.3
88.0
201.0
102.4
109.6
119.6
106.4
87.1
193. 2
102 0
Transportation equipment 9 _ ..Dec. 1968 = 100..
Motor vehicles and equip
1957-59-100.. ""'" 105.1
Miscellaneous products 9
do
'111.7
108.3
Toys, sporting goods, etc
do
115.2
Tobacco products
do
100.7
107.0
114.7
111.3
120.8
99.9
106.0
115.9
111 8
123.5
100.0
106.1
116.4
112 1
123.8
102.3
108.7
116.7
112.3
123.8
102.7
109.0
117.0
112.8
124.0
102.7
109.0
117.0
112.7
124.0
102.9
109.1
117.4
114.1
124.0
102.9
109.1
117 5
114 2
124 0
103.2
109.4
117.8
115.3
124.1
103.1
109.3
117.8
115.0
124.1
103.2
109. 4
118.2
115.1
124.1
103.3
109. 5
121. 0
115.8
132.3
103.2
109.4
121.4
115.9
131.7
103.3
109. 5
121.5
116 2
131.8
103.6
109. 7
121.9
116 4
132 1
$0. 885
.783
$0 882
.777
$0. 880
.774
$0. 877
.770
$0. 872
.767
$0. 869
.762
$0. 862
.759
$0. 859
.755
$0. 858
.751
$0. 858
.746
$0. 856
.743
$0. 855
.740
$0. 850
.737
$0. 853
.735
$0 849
' 8, 244
r
Nonmetallic mineral products 9
do
Clay prod., structural, excl. refractories
do
Concrete products
do
Gypsum products _
do
Pulp, paper, and allied products
do
Paper
do
Rubber and plastics products § .
__do
Tires and tubes _
_
do_. .
PURCHASING POWER OP THE DOLLAR
As measured byWholesale prices
Consumer prices
1957-59-$!. 00
do
r
$0 919
.825
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE
New construction (unadjusted), total
Private, total 9
Residential (nonfarm)
New housing units
_
mil. $
do
do
do
Nonresidential buildings, except farm and public utilities, total 9
mil. $
Industrial.. _ _ _
do
Commercial
_
do
Public utilities:
Telephone and telegraph
do
84, 690
90 866
8 514
8,600
8,198
7,867
6,963
6,091
5,897
6,513
7,058
7,630
8, 468
8,625
56 996
28 823
22, 423
62 806
30 603
23 689
5 842
2 880
2, 186
5 919
2 763
2,124
5 796
2 636
2 082
5 483
2 482
1 984
5 111
2 288
1 797
4 317
1 961
1, 495
4 113
1 765
1,300
4 568
1 987
1,454
4 942
2 230
1,636
5 225 ' 5 588T 5 742
2 405 ' 2 634 r 2 811
1,743 r 1, 876 r 1, 988
5 911
2 928
2,068
18, 800
5 594
8,333
22, 033
6 373
10, 136
2,013
558
936
2,200
621
1,033
2,169
613
1,025
2,076
569
982
1 942
575
889
1,623
438
750
1,627
415
763
1,769
458
841
1,824
501
840
1,891
c
498
890
1,948
521
925
r
1,r 898
519
' 874
1, 953
575
862
1,704
2,172
190
204
222
200
226
155
174
218
234
235
271
275
do
27 694
28 060
2 672
2,681
2 402
2 384
1 852
1,774
1 784
1 945
2 116
2 405
2 656
'2 726
2 714
Buildings (excluding military) 9
Housing and redevelopment . .
Industrial..
do
do
do
10 445
746
517
11 226
1,047
512
940
73
44
970
89
37
868
82
42
921
95
36
780
80
41
800
78
41
801
75
35
834
118
36
877
82
45
875
89
r
48
953
104
'47
893
87
24
40
Military facilities
Highways and streets
do
do
824
9 295
945
9 276
83
1 064
95
1 023
88
892
76
822
73
600
61
483
54
500
53
581
56
677
72
904
75
986
54
1 144
89 9
91 1
90 7
88 8
89 8
90 8
92 0
90 7
90 0
88 5
r
62 4
63 7
63 6
61 8
61 9
62 7
63 3
64 0
62 8
61 7
' 62 1 ' 62 2
29 3
29 2
29 3
28 8
28 9
28 7
28 7
29 4
29 0
28 2
r
28 1
'28 6
29 6
22. 7
64
10 3
23.8
6 7
11 1
23.7
6 9
10 9
22.8
6 6
10 2
22.6
6 4
10 3
23.3
6 4
11 0
24.0
6 0
11 7
23.8
5 9
11 8
22.7
6 2
10 6
22.4
59
10 6
22.7
5 9
10 9
21.9
' 5 9
r
10 0
22.1
6 6
9 5
do
27 5
27 4
27 1
27 o
27 9
28 1
28 6
26 7
27 3
26 8
r 28 1
T 98 2
28 5
do
do
do
do
do
11 0
.8
6
9
8.9
10 6
9
4
9
9.3
10 5
10
5
9
9.3
10 5
9
4
8
9.6
10 7
10
5
9
10.3
10 8
l' l
5
9
HX5
10 9
1i
5
9
11.1
10 7
12
4
7
'9.3
10 7
13
5
7
'9.4
' 10 5
12
4
9
'9.5
5
8
4
6
5
Public, total 9
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
Public, total 9.—
Buildings (excluding military) 9
Housing and redevelopment
Industrial..
Military facilities..
Highways and streets
' Revised.
» Preliminary.
o"See corresponding note on p. S-8.
data for items not shown separately.
404-263 O - 70 - S2
©See corresponding note on p. S-8.
9 Includes
90 2
r
90.5
91 5
63 0
§ Beginning Jan. 1970, retitled to read "rubber and plastics products" to cover the direct
pricing of plastic construction products; continuity of the group index is not affected.
SURVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
| 1969
Annual
October 1970
Aug.
Sept.
Oct.
1970
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION
CONTRACTS
Construction contracts in 48 States (F. W. Dodge
Division, McGraw-Hill):
Valuation total
mil. $_- * 61, 732
Index (mo. data seas, adj.)
67, 827
6,523
5,140
6,240
4,406
5,228
4,928
5,249
6,140
6,757
5,417
6,553
6,178
173
193
216
173
195
178
218
205
215
208
203
170
186
180
212
mil. $_. i 19, 597
i 42, 135
do
22, 858
44, 969
2,605
3,918
1,719
3,420
1,626
4,615
1,427
2,980
1,727
3,501
1,433
3,495
1,652
3,597
2,069
4,071
1,791
4,966
1,695
3,722
2,815
3,738
2,313
3,865
2,078
4 151
i 22, 513
i 24, 838
i 14, 382
26, 085
25, 590
16, 152
2,460
2,394
1,669
2,013
1,952
1,175
2,502
2,290
1,449
1,566
1,675
1,165
2,168
1,744
1,317
2,252
1,475
1,201
2,269
1,482
1,498
2,191
1,974
1,975
2,413
2,466
1,878
1,750
2,123
1,545
1,919
2,224
2,410
2,469
2,347
1,361
2,331
2 349
1,549
52, 419
57, 164
4,167
3,858
7,124
6,878
5,486
5,655
4,092
4,989
5,857
6,457
4,916
5,248
4,829
thous . 1,545.5
1,116.1
do
1 507 7
do
899.5
do_
1,499.9
1,096.8
1, 466. 8
810.6
127.6
91.4
124.9
69.5
132.9
93.9
129.3
71.5
125.8
91.2
123.4
68.0
97.4
68.1
94.6
55.1
85.3
63.7
84.1
42.8
69.2
52.0
66.4
'33.4
77.0
55.3
74.3
41.4
117.8
87.5
114.7
'61.9
130.2
91.3
128.4
73.8
127.3
88.4
125.0
74.8
141.6 ' 143. 4 ' 130 2 133 4
92.4
102.6
93.5
135.2 ' 140 8 ' 127 4 130 8
83.0 ' 75.5 ' 76 5 72 2
1,384
723
1,481
828
1,390
766
1,280
762
1,402
776
1,059
577
1,306
725
1,392
708
1,224
697
1,242
728
1,393 ' 1, 603 ' 1 412 1 504
835
'827
' 830
884
1957-59=100..
Public ownership
Private ownership
By type of building:
Nonresidential _-- - Residential
Non-building construction
New construction planning
(Engineering News-Record) O
-
-do _ _
do
do
do
2
6,230
4,303
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total (private and public)
Inside SMSA's
Privately owned
One-family structures
.
-
Seasonally adjusted at annual rates:
Total privately owned
One-family structures
do
do..
New private housing units authorized by building
permits (13,000 permit-issuing places) :
Seasonally adjusted at annual rates:
Total
thous .
One-family structures
_ do
Manufacturers' shipments of mobile homes:*
Unadjusted
do
Seasonally adjusted at annual rates
do
1,353
695
1,300
617
1,245
570
1,201
565
1,183
574
1,191
596
1,239
639
1,013
469
1,137
562
1,099
552
1,263
603
1,321
602
1, 306
613
318.0
412.7
38.1
408
40.1
417
43.4
454
32.7
452
27.2
403
23.7
383
'23.9
'340
29.3
344
39.6
442
32.6
377
35.4
366
36.8
432
38.1
407
131
142
143
143
143
144
145
'146
146
146
146
'148
150
' 153
153
970
1,072
1,070
966
953
1,050
1,158
1,116
1,054
1,021
1,061
1,176
1,105
1,062
1,035
1 065
1,179
1,106
1 063
1,054
1,069
1,177
1,133
1,063
1,053
1,073
1,178
1,136
1,066
1,054
1,076
1,178
1,136
1,061
1,054
1,082
1,210
1,169
1,061
1,060
1,084
1,214
1,171
1,060
1,065
1,085
1,221
1,172
1,061
1,066
1,097
1,231
1,178
1,062
1,072
1,117
1,231
1,178
1,062
1,138
1,127
1,231
1,177
1,058
1,137
1,150
1,158
1,275 r 1, 326
619
'663
1,368
680
CONSTRUCTION COST INDEXES
Dept of Commerce composite
1957-59—100
American Appraisal Co., The:
Average 30 cities
Atlanta
New York
San Francisco
St. Louis
1913 — 100
do
do
do
do .
Associated General Contractors of America. Inc.,
The (building only)
1957-59= 100_.
Boeckh indexes:
Average, 20 cities:
Apartments hotels office buildings 1957-59—100
Commercial and factory buildings
do
Residences
do
Engineering News-Record:
Building
._
_ _do
Construction
do
139
150
153
153
153
153
154
155
155
156
157
159
164
168
171
139.9
139 1
136 7
151.8
149.1
148.0
154.5
151 0
150.4
154 4
151 0
149 8
155.1
152. 1
149.3
156.0
152.5
150.1
156.4
153.2
151.0
156.7
154.2
151.6
157.1
154.5
152.1
158.0
155 5
152.3
158.3
155.7
152.6
159.4
157.7
153.3
159.8
157 9
153.6
163.8
161.9
157.5
164.1
162 1
157.8
136.8
151.9
149.9
167.2
151.6
170.0
151.0
169.1
151.3
171.0
151.9
152.2
171.7 '171.7
152.2
172.2
152.0
172.5
152.2
173.0
154.2
174.9
156.4
177.0
157.5
180.1
160.9
186.0
161.4
186.6
Federal Highway Adm.— Highway construction:
Composite (avg for year or otr )
1957 59 100
121 6
132.3
166.0
166.0
170.2
154.7
172.2
165.0
181.0
159.7
147.6
154.4
147.0
171.1
136.7
145.5
142.9
161.5
161.1
166 6
162.9
159.8
171 1
168.2
198 1
167.8
164.5
204.2
169.0
156.6
257.2
166.3
166.8
259.9
176.1
178.6
260.7
153.0
147.2
184.2
158. 7
149.9
155.4
140.2
151.0
101.7
158 9
146.6
120.8
175 4
163.4
153.9
162.7
169.8
196.9
180 7
163.8
217.6
191 1
162. 5
237 5
166.8
184.9
131.7
138.2
14.4
169
13.0
152
16.5
193
11.1
128
19.8
224
11.4
127
14.6
230
11.5
177
14.9
210
10.1
147
16.5
251
9.4
141
20.0
250
10.7
142
26.5
258
13.5
142
27.7
282
12.8
134
24.9
269
12.2
131
27.7
290
11.5
125
26.6
294
12.7
127
6, 495. 94 7, 120. 63
3 773 88 4, 073. 86
630. 40
384 56
714. 28
363 55
712. 12
397.44
560. 12
328. 54
595. 83
317. 14
610. 47
310. 21
501. 86
235 24
581. 88
257 74
561. 43
232. 58
527. 06
237 52
696. 27
262 66
705. 61
297. 73
5 259
9,289
7,544
7,940
8,439
8,802
9,289
9,852
9,937
9 745
9,860
10 008
10 236 plO 373 plO 446
21, 983
21, 832
1,918
1,728
1,698
1,330
1,508
1,064
1,042
1,262
1,400
1,586
4,916
11, 215
5 852
4,756
11, 244
5,832
393
1,089
436
377
936
415
365
862
471
286
652
392
300
687
521
220
530
314
223
502
317
284
585
393
325
627
448
373
741
472
110, 404
95, 856
7,362
7,812
8,468
7,249
8,337
i 829 92 1,952 02
172 14
154. 89
156. 54
146. 32
179. 43
CONSTRUCTION
138 7
136 3
137 2
172
2 162. 7
2 187. 2
142 4
MATERIALS
Output index: t
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:
FHA net applications^:
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 $
New mortgage loans of all savings and loan associations, estimated total
mil $
By purpose of loan:
1 1 ome construction
do
Home purchase
do
All other purposes
do
Foreclosures
Fire losses (on bldgs contents etc )
number
mil $
' Revised.
p Preliminary.
1 Annual total reflects revisions not distributed to months.
Computed from cumulative valuation total. 3 Index as of Oct. 1, 1970: Building, 163.6;
construction, 188.9.
O Data for Oct. 1969 and Jan., Apr., and July 1970 are for 5 weeks;
other months, 4 weeks.
*New series. Data from Mobile Home Manufacturers' Association;
seasonally adjusted annual rates calculated by Bu. of the Census. Available earlier data will
2
' 7, 704 r 7, 137 '8 383 8,491
184. 03
206. 89
196 68
188. 47
2,086
29.4
27.9
338
319
'13.2 v 12.0
' 153 P137
751.81
306. 24
788. 61
' 2, 080 2,110
368
'393
398
1,017 ' 1, 071 1,151
591
' 616
'671
8,639
9 084
186 94
177 67
177. 85
200. 93
be shown later.
{Revisions for 1961-68 for FHA applications and for 1961-Feb. 1969 for requests for VA
appraisals (seas. adj. annual rates) will be shown later. Revisions for 1964-68 for construction
materials output indexes appear in the Dec. 1969 issue of Construction Review (BDSA).
9 Includes data for items not shown separately.
§ Data include guaranteed direct loans sold.
SURVEY OF CURRENT BUSINESS
October 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
| 1969
Annual
S-ll
1969
Aug.
Sept.
Oct.
1970
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
DOMESTIC TRADE
ADVERTISING
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
537.6
50.6
157.6
89.9
38.4
54.2
147.0
1,550.0
125.9
437.0
293.3
144.9
156.8
392.1
1, 698. 8
135.1
496.8
314.4
157.5
175.0
420.0
Magazine advertising (general and natl. farm magazines):
Cost total
mil. $.. 1, 196. 1
63.5
Apparel and accessories
do
112.6
Automotive incl accessories
-do
32.3
Building materials
_ _-do
144.4
Drugs and toiletries
.
do
106.3
Foods, soft drinks, confectionery
do
1,245.3
60.6
114.4
26.5
158.7
101.5
73.4
6.1
4.4
1.4
11.3
5.8
113.4
9.4
9.0
2.7
14.6
8.2
133.3
6.2
17.1
2.8
14.6
9.4
133.9
5.6
13.2
1.6
15.8
11.3
106.7
3.9
6.6
1.0
15.4
8.1
69.9
1.8
5.4
.8
9.1
5.0
88.7
3.5
7.8
1.4
12.4
8.3
109.8
6.2
10.7
2.4
13.4
9.3
112.1
6.5
9.9
2.6
14.3
8.5
121.2
4.1
11.1
3.1
15.1
9.7
101.0
2.0
9.0
1.7
15.2
8.4
70.7
1.1
5.9
.8
11.5
7.6
71.0
4.7
4.9
1.2
10.5
5.5
102.6
7.8
7.1
2.0
13.4
6.5
95.6
75.7
56.7
22.2
43.2
443.6
101.8
76.5
60.0
15.7
48.2
481.4
4.7
3.2
4.9
.8
3.5
27.3
7.4
7.0
6.0
1.1
4.3
43.6
11.3
10.2
5.6
1.4
4.3
50.5
12.8
8.9
6.0
1.5
4.9
52.3
16.6
4.7
3.7
.9
5.0
40.9
3.6
3.1
3.1
.9
3.9
33.5
5.2
3,6
3.7
.8
4.5
37.4
7.8
5.6
3.5
1.9
4.6
44.5
8.1
7.2
4.4
1.7
5.2
43.8
9.1
9.7
5.1
1.9
5.6
46.6
10.0
5.8
4.8
1.4
5.3
37.5
6.3
4.2
2.8
1.0
4.5
25.0
4.3
3.3
3.0
1.0
5.7
26.9
7.0
6.6
3.9
1.2
6.2
40.9
Newspaper advertising linage (52 cities): ©
Total
..mil. lines.. 3, 381. 1 3, 575. 1
923.7 1, 017. 1
Classified
.do
2, 457. 3 2, 558. 0
Display total
__do
173.3
171.0
Automotive
do
81.7
72.8
Financial
do __
300.1
General
do
296.1
Betail
do
1, 917. 4 2, 003. 0
294.3
92.2
202.0
14.0
4.6
18.2
165.3
293.9
86.1
207.8
16.7
6.1
25.1
159.9
326.3
89.0
237.3
14.7
7.3
30.6
184.8
339.6
83.4
256.2
13.7
5.9
31.7
204.9
307.2
66.9
240.3
9.8
7.0
21.7
201.7
247.6
72.9
174.7
10.3
9.6
17.8
137.0
241.4
70.2
171.3
11.5
5.8
20.7
133.2
289.0
80.2
208.8
13.1
6.8
23.8
165. 2
303.8
81.8
222.0
15.3
7.1
27.1
172.5
313.4
87.4
226.0
16.9
5.1
26.8
177.2
284.3
79.9
204.4
15.7
6.8
21.6
160.3
266.5
78.0
188.5
14.0
6.5
17.1
151.0
285.4
83.7
201.7
13.2
4.0
17.3
167.2
236, 708
109,578
127, 130
20,036
9,294
10,742
20,638
9,575
11,063
21, 935
10, 137
11, 799
19,720
8,892
10,828
20,703
9,040
11,664
18, 813
8,328
10, 485
18, 505
8,393
10, 112
20,592
9,370
11,221
20,333
9,371
10,962
20, 247
9,294
10, 953
21, 291 r 20,972
10, 020 ' 9,699
11,271 ' 11,272
20, 505
9,363
11, 142
24, 365
14,376
9,989
23,495
14,262
9,233
23,669
14,138
9,531
24, 229
14,321
9,909
24,288
14,273
10,015
24,365
14,376
9,989
24, 537
14, 432
10, 105
24,746
14,622
10, 125
24,907
14,817
10,090
25,010
14,974
10,036
24, 938
14, 921
10, 017
25, 082 ' 25,092
15, 088 ' 15,135
9,994 ' 9,957
25, 349
15, 310
10, 038
mil. $__ "339,324 351, 633
- do. __ 110, 245 112, 779
do _
66,911
65, 261
do ... 60, 660
62,048
do
4,863
4,601
29,424
8,948
5,098
4,687
411
28,583
9,364
5,481
5,103
378
30,645
10, 055
6,088
5,673
415
29,839
9,107
5,378
4,968
410
35,963
9,799
5,072
4,613
459
27, 051
7,810
4,664
4,325
339
25,437
7,874
4,796
4,489
307
28, 715
8,918
5,456
5, 083
373
29, 654
9,535
5,793
5,351
442
31, 326
9,833
5,859
5,400
459
31, 415 ' 31,143
10, 418 ' 9,959
6,272 ' 5,860
5,798 r 5,389
'471
474
30, 314
9,178
5,150
4,714
436
16, 719
10,439
5,223
14, 562
11,278
3,284
238,854
20, 158
4,761
7,606
3,505
1,360
864
417
1,312
1,033
279
20,476
1,679
360
605
337
1,401
855
441
1,279
1,018
261
19,219
1,642
354
626
328
1,434
889
446
1,309
1,037
272
20, 590
1,747
403
672
307
1,436
891
456
1,142
879
263
20,732
1,782
446
666
300
1,847
1,046
632
1,186
818
368
26,164
2,838
745
1,025
444
1,327
792
428
871
672
199
19, 241
1,412
368
524
239
1,217
752
370
896
712
184
17,563
1,241
292
483
214
1,290
802
388
1,031
828
203
19, 797
1,587
331
586
319
1,317
826
402
1,186
933
253
20, 119
1,530
336
588
272
1,355
860
410
1,288
988
300
21, 493
1,634
373
618
291
1,407 ' 1,395 1,387
'854
877
884
418
437 r '450
1,358
1,378 r 1,381
1,079
1,076
1,063
'302
282
315
20, 997 T 21 184 21, 136
1,625
1,618 ' 1,500
'344
333
377
' 566
608
610
263
318
296
11,458
25, 285
"72, 881
"67, 925
24, 526
11,863
25,849
75,866
70, 955
25, 116
992
2,430
6,666
6,234
2,210
969
2,199
6,125
5,712
2,060
986
2,255
6,593
6,168
2,119
966
2,121
6,331
5,922
2,053
1,347
2,120
6,800
6,351
2,131
1,018
2,026
6,816
6,407
2,079
950
1,945
6,040
5,649
1,917
1,022
2,141
6,438
5,996
2,128
989
2,229
6,497
6,051
2,178
1,040
2,452
7,025
6,557
2,298
54, 493
58,615
4,938
4,669
5,107
5,649
8,636
3,969
3,719
4,614
4,739
5,007
49, 295
33, 323
3,256
6,152
6,969
53,083
36,411
3,519
6,548
7,403
4,479
3,064
270
546
639
29,346
9,161
5,412
5,013
399
4,186
2,877
274
492
577
29,259
9,384
5,665
5,272
393
4,583
3,126
338
538
611
29,620
9,354
5,638
5,238
400
5,128
3,515
408
590
639
29,471
9,229
5,565
5,170
395
8,063
5,572
507
1,088
875
29,419
9,275
5,453
5,086
367
3,546
2,409
234
414
613
29,570
8,886
5,114
4,701
413
3,280
2,181
256
409
537
29,980
9,143
5,325
4,901
424
4,152
2,788
312
528
587
29,801
9,134
5,350
4,921
429
4,275
2,930
290
509
615
30, 536
9,340
5,469
5,029
440
4,530
3,067
286
584
671
30, 502
9,320
5,349
4,909
440
1,352
841
424
1,185
905
280
1,364
847
417
1,190
925
265
1,358
825
436
1,173
906
267
1,332
838
423
1,168
909
259
1,399
855
439
1,180
916
264
1,457
885
465
1,143
897
246
1,422
892
426
1,205
949
256
1,418
868
426
1,168
927
241
1,454
877
469
1,158
914
244
1,435
876
461
1,217
936
281
mU $
do
do
do
do _
do
do
Beer, wine, liquors
do
Household equip., supplies, furnishings. .do
Industrial materials
do
Soaps, cleansers, etc
do
Smoking materials
do
Allother
do
343.8
21.3
103.1
66.4
39.4
35.0
78.6
0)
0)
(0
0)
0)l
()
0)
WHOLESALE TRADE
Merchant wholesalers sales (unadj.), total, mil. $_. 219, 943
Durable goods establishments. _ _
do _ 100, 012
Nondurable goods establishments...
do __ 119,930
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total
mil. $__
Durable goods establishments. _. __ _ _ do. __
Nondurable goods establishments
do -
22, 487
13, 245
9,242
RETAIL TRADE
All retail stores:
Estimated sales (unadj.), total..
Durable goods stores 9
Automotive group
_
Passenger car, other auto, dealers
Tire, battery, accessory dealers
Furniture and appliance group 9
do
16, 540
Furniture, homefurnishings stores
do
10, 227
Household appliance, TV, radio
do
5,235
Lumber, building, hardware group
do
Lumber, bldg. materials dealers d*
do
10, 984
Hardware stores
do
Nondurable goods stores 9
do
«229, 079
Apparel group
do
19, 265
Men's and boys' wear stores
do
4,516
Women's apparel, accessory stores.. .do ... 7,429
Shoe stores
do
3,196
Drug and proprietary stores
Eating and drinking places
Food group
Grocery stores
Gasoline service stations
do
do
do
do__
do
General merchandise group with nonstores 9
.mil. $ .
General merchandise group without nonstores9§
.mil. $ _
Department stores
do
Mail order houses (dept. store mdse).do
Variety stores.
_
do
Liquor stores. ._
do
Estimated sales (seas, adj.), total
do
Durable goods stores 9
do
Automotive group
do
Passenger car, other auto, dealers
do
Tire, battery, accessory dealers _
do
Furniture and appliance group 9
do __
Furniture, homefurnishings stores
do
Household appliance, TV, radio ...do
Lumber, building, hardware group
do
Lumber, bldg. materials dealersc?
do
Hardware stores
.
do
' Revised.
1 Series discontinued by source effective with 4th qtr. 1969 data.
° Monthly
revisions for Jan.-Nov. 1968 (unadj. and seas. adj. data) appear in the Census Bureau Mouthy
Retail Trade Report, Dec. 1969 issue.
0 Source: Media Records, Inc., 52-City Newspaper Advertising Trend Chart.
9 In-
1,029
2,474
6,781
6,319
2,344
' 1,031
' 2,554
'7,112
' 6,639
' 2,414
1,033
2,581
6, 829
6,358
2,317
4,930
' 4,790
5,052
4,452 ' 4,323 4,562
3,056 ' 2,919 3,075
' 278
298
266
'532
565
549
'697
652
691
30, 518 30,729 30, 690
9,411 ' 9,487 9,450
5,483 ' 5,544 5,492
5,068 ' 5,113 5,063
'431
415
429
1,413
857
452
1,216
924
292
' 1,395
'848
'443
1,221
'931
'290
1,394
858
433
1,230
949
281
cludes data for items not shown separately.
cfComprises lumber yards, building materials dealers, and paint, plumbing, and electrical
stores.
§ Except department stores mail order.
SURVEY OF CURRENT BUSINESS
S-12
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
October 1970
1970
1969
Annual
Aug.
Sept. 1 Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
All retail stores— Continued
Estimated sales (seas, adj.)— Continued
N endurable goods stores 9
mil. $
Apparel group
do
Mien's and boys' wear stores
do
Women's apparel accessory stores do
Shoe stores
- do
Eating and drinking places
Food group
Grocery stores
Gasoline service stations
20,185
1,738
400
653
332
19,875
1,676
388
645
316
20, 266
1,719
401
652
314
20,242
1,677
406
627
305
20, 144
1,681
397
603
335
20, 684
1,616
391
608
273
20,837
1,735
420
650
296
20, 667
1,608
383
590
271
21, 196
1,728
397
634
293
21, 182
1,684
387
627
284
1,013
2,150
6,429
6,006
2,075
1,019
2,173
6,326
5,907
2,089
1,007
2,219
6,450
6,035
2,090
1,004
2,233
6,429
6,012
2,078
1,000
2,137
6,436
6,026
2,097
1,038
2,209
6,674
6,239
2,184
1,034
2,270
6,655
6,221
2,183
1,051
2,273
6,679
6,233
2,203
1,044
2,296
6,747
6,290
2,213
1,040
2,353
6,765
6,305
2,233
5,000
4,864
5,000
4,987
4,998
5,061
5,114
5,001
5,271
4,524
3,117
285
554
640
4,362
2,988
281
526
617
4,486
3,065
302
553
618
4,475
3,083
294
550
614
4,554
3,113
310
553
594
4,603
3,108
330
574
649
4,612
3,129
338
560
633
4,527
3,060
323
562
655
4,796
3,285
309
596
669
' 43, 535 ' 42, 141 ' 43, 370 ' 44, 882 ' 46, 014 '43,535 ' 42, 927 '43,723 ' 44, 800 '45,363 '44,828
19, 527 18, 098 18, 569 19, 075 19, 598 19, 527 19, 471 19, 827 20, 234 20, 440 20, 242
9, 424
7,813
8,713
9, 424
9, 114
8,338
9, 420
9, 573
9, 867 10, 018 10, 035
3,122
3, 197
3,043
3.088
3,122
3,108
3, 298
3, 025
3,116
3,046
3, 081
2,665
2, 546
2, 616
2, 639
2,606
2,546
2, 530
2,548
2, 598
2, 523
2, 577
- do
do_ _
do
do
General merchandise group with nonstores 9
mil. $
General merchandise group without nonstores 9 §
mil. $
Department stores
do
IVtail order houses (dept store mdsc )do
Variety stores
do
Liquor stores
do
Estimated inventories, end of year or month : f
Book value (unadjusted), total }
mil. $._
Durable goods stores 9
do
Automotive group
do
Furniture and appliance group
do
Lumber building hardware group do
' 40, 601
18, 412
8,653
2, 989
2, 621
do
do
do
do
do _
Apparel group 9
Men's and boys' wear stores
Women's apparel, accessory stores
Shoe stores
_
Drug and proprietary stores
Eating and drinking places
Furniture and appliance group
'
'
'
'
1,055
2, 299
6, 751
6, 299
2, 237
1,056
2,319
6,784
6,320
2,196
5,200
5,106
' 5, 246
5,180
4,733
3,185
336
613
674
4,628
3,151
307
575
678
' 4, 766
' 3, 247
'327
' 575
'693
4,666
3,160
317
580
714
44, 859
20, 349
10, 162
3,046
2,548
44, 819
20, 116
10, 007
3,017
2,539
43, 927
18, 684
8,573
3,005
2,520
24, 008
4, 426
4, 691
24, 043
4, 685
4, 497
24, 801
4,816
4,550
25, 807
4, 860
4,664
26, 416
4, 975
4,762
24, 008
4, 426
4,691
23, 456
4, 256
4,550
23, 896
4,385
4,588
24, 566
4,544
4,643
24, 923
4,611
4,664
24, 586
4, 539
4,664
24, 510
4,454
4,671
24, 703
4,480
4,687
25, 243
4,685
4,660
8,314
4, 886
9,186
5,348
9, 434
5,518
9, 908
5, 803
10, 627
6, 269
10, 834
6,435
9, 186
5,348
9, 080
5,230
9, 319
5,376
9, 713
5,671
9, 865
5,713
9, 719
5, 622
9, 735
5,605
9,980
5,768
10, 253
5,937
' 41, 604 ' 44, 623 '43,535 ' 43, 897 ^44,411 ' 44, 268 ' 44, 623 r 44, 014 ' 44, 133 ' 44, 325 ' 44, 326 ' 44, 109
19, 980 19, 399 19, 633 20, 044 19, 835 19, 980 19, 342 19, 388 19, 471 19, 426 19, 346
18,851
9, 558
9, 563
9, 240
9, 184
9,475
9, 768
8, 776
9, 558
9, 166
9, 066
8, 989
9, 153
3, 199
3, 025
3, 094
3,116
3,144
3, 199
3, 082
3, 066
3,086
3,138
3,134
3,118
2, 627
2, 703
2, 656
2, 611
2, 488
2, 705
2, 654
2, 550
2, 503
2,627
2, 533
2, 519
44, 527
19, 552
9,415
3, 034
2, 528
44, 965
19, 739
9,613
3,026
2,552
45, 453
20, 119
10, 050
3,011
2,558
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
r
1,044
2,341
6,818
6,364
2,237
22, 189
4, 050
4, 393
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 J
Durable goods stores 9
Automotive group _
Furniture and appliance group
Lumber, building hardware group
21, 107 '21,242 21, 240
1,694 ' 1, 704 1,715
373
'386
378
661
'650
658
296
295
323
22, 753
4,214
4, 375
24, 643
4, 606
4,672
24, 136
4, 593
4,584
24, 264
4,543
4, 591
24, 367
4, 496
4,564
24, 433
4,560
4, 597
24, 643
4,606
4, 672
24, 672
4,606
4,577
24, 745
4,563
4,634
24, 854
4,651
4,634
24, 900
4, 620
4,664
24, 763
4,613
4,673
24, 975
4, 649
4, 694
25, 226
4,647
4,763
25, 334
4,593
4,750
8, 849
5,187
9,777
5,677
9, 466
5,546
9, 507
5,564
9, 594
5,607
9, 645
5,635
9, 777
5,677
9, 828
5,741
9,864
5,731
9, 926
5,810
9, 873
5,713
9, 830
5,696
9,993
5, 796
10, 198
5,922
10, 277
5,961
- do ._ " 94, 194
r 9, 018
9,007
do
_ do _.
do
- do. __
do
do
do
General merchandise group with nonstores 9
mil $
General merchandise group without nonstores §
mil $
Dept stores excl mail order sales
do
Variety stores
do
0
103,070
8,786
8,274
9,041
9,258
12, 541
8,112
7,316
8,463
8,560
9,160
8,986
5,186
767
1,837
1,335
3,373
2,122
1,303
5,921
905
2,090
1,598
3,777
2,487
1,354
503
65
176
149
328
224
115
505
70
178
155
315
229
113
531
85
192
139
318
231
115
556
110
191
144
320
208
112
906
163
314
237
489
205
143
387
73
131
101
322
203
88
352
58
120
97
294
193
85
507
66
167
159
348
215
100
460
63
163
124
322
234
105
485
71
170
134
347
221
106
503
72
182
147
342
222
109
38, 395
41,997
3,532
3,320
3,636
4,045
6,340
2,808
2,624
3,306
3,405
3,599
3,562
3,463
3,624
35, 708
26, 184
4,821
39, 222
28, 934
5,232
3,315
2,471
432
3,084
2,292
390
3,379
2,478
429
3,783
2,786
477
6,027
4,424
875
2,613
1,921
326
2,406
1,746
321
3,072
2,241
415
3,174
2,355
409
3,351
2,467
464
3,315
2,475
440
' 3, 222
' 2, 376
3,376
2,491
448
34, 295
1,736
37, 163
1,816
3,244
147
2,955
134
3,303
159
3,148
146
3,409
171
3,511
112
3,028
103
3,179
127
3,166
155
3,468
159
3,323
163
' 3, 515 3,324
'164
146
'428
'55
' 160
'117
'356
'231
'105
r 424
502
59
179
151
352
243
100
Grocery stores
Tire, battery, accessory dealers
do
do
Estimated sales (seas adj ), total 9
do
8,718
8,578
8,822
8,739
8,902
9,038
9,078
8,952
9,160
9,167
9,189
' 9, 227
9,229
do
do
do
do
do
do
519
78
181
150
337
215
514
80
182
150
341
226
514
79
183
142
332
228
515
93
177
147
326
216
523
85
177
158
314
207
487
82
173
125
349
215
521
85
175
140
339
217
477
73
164
127
361
214
530
74
185
142
348
234
496
73
172
132
347
215
517
71
191
148
354
212
'509
'68
'187
' 138
'364
'221
526
72
187
155
367
236
3,646
3,698
3,605
3,782
3,750
3,665
' 3, 746
3,502
2,554
488
3,420
2,531
462
' 3, 504 3,441
' 2, 569 2,534
465
'467
' 3, 377
' 154
Apparel group 9
Men's and boys' wear stores
Women's apparel, accessory stores
Shoe stores
Drug and proprietary stores
Eating and drinking places
General merchandise group with nonstores 9
mil $
General merchandise group without nonstores!
mil $
Dept. stores, excl. mail order sales
do
Variety stores
do
3,553
3,432
3,559
3,519
3,695
3,338
2,493
439
3,199
2,360
418
3,316
2,432
440
3,264
2,406
437
3,447
2,556
442
3,428
2,498
460
3,442
2,534
448
3,362
2,476
443
3,535
2,608
473
Grocery stores.
Tire, battery, accessory dealers
3,146
146
3,120
143
3,197
158
3,199
142
3,213
131
3,344
136
3,306
140
3,318
146
3,274
151
3,344
149
3,444
144
do
do . .
All retail stores, accounts receivable, end of yr. or mo.:
Total (unadjusted)
mil $
Durable goods stores
do
Nondurable goods stores
do
Charge accounts
do
Installment accounts
do
Total (seasonally adjusted)
Durable goods stores
Nondurable goods stores
Charge accounts. _
Installment accounts. ...
do
do
do
do
do
20,630
7,140
13, 490
8,677
11, 953
21, 490
7,174
14,316
8,648
12, 842
19, 634
7,122
12, 512
8,228
11, 406
19, 734
7,134
12,600
8,260
11,474
19,853
7,159
12, 694
8,326
11,527
20, 143
7,082
13, 061
8, 312
11, 831
21, 490
7,174
14, 316
8,648
12, 842
20, 594
6,802
13, 792
8,142
12,452
20, 086
6,786
13, 300
7,993
12, 093
20, 010
6,794
13, 216
8,089
11,921
20, 083
6,819
13, 264
8,199
11, 884
20, 254
6,865
13, 389
8,403
11,851
20, 491
7,183
13,308
8,550
11,941
19, 378
6,941
12, 437
8,317
11,061
20, 140
6,976
13, 164
8,280
11, 860
19, 849
6,988
12, 861
8,240
11,609
19, 996
7,026
12, 970
8,299
11, 697
19, 996
7,002
12, 994
8,198
11, 798
20, 087
7,055
13, 032
8,190
11,897
20, 140
6,976
13, 164
8, 280
11, 860
20, 198
6,930
13, 268
8,262
11,936
20, 433
7,077
13, 356
8,428
12,005
20, 375
7,074
13, 301
8,390
11,985
20, 363
6,983
13, 380
8,325
12, 038
20, 315
6,902
13, 413
8,268
12,047
20, 428
7,040
13, 388
8,348
12, 080
r
a
Revised.
See corresponding note on p. S-ll.
J Series revised to reflect benchmarking to the levels of the 1968 and 1969 Annual Retail Trade Reports (Census Bureau),
and also recalculation of seas, factors for all lines of trade; description of revisions and re-
vised data back to 1961 appear on pp.38fL of the Oct. 1970 SURVEY.
shown separately. § Except department stores mail order.
3,695
3,427
146
9 Includes data not
October 1970
SURVEY OF CURRENT BUSINESS
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
1969
Annual
S-13
Aug.
Sept.
Oct.
1970
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.?
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total, incl. armed forces overseas
mil
203. 40
203.61
203.81
204.00
204.18
204.35
204.51
204.66
204.84
205. 02
205. 20
205. 40
205.60
205. 81
84,239
80, 733
77, 902
74,296
3,606
2,831
86,046
82, 516
79,646
75, 669
3,977
2,869
84, 527
80. 984
78, 026
74, 397
3,629
2,958
85, 038
81,510
78, 671
75, 110
3,561
2,839
84,920
81, 427
78, 716
75, 395
3,322
2,710
84,856
81,416
78, 788
75, 805
2,984
2,628
84, 105
80, 719
77, 313
74, 398
2,915
3,406
84,625
81,283
77,489
74,495
2,994
3,794
85,008
81, 690
77, 957
74, 786
3,171
3,733
85, 231
81, 960
78,408
74, 877
3,531
3,552
84, 968
81, 741
78, 357
74,632
3,725
3,384
87, 230
84, 050
79, 382
75, 174
4,208
4,669
87, 955
84, 801
80,291
76, 173
4,118
4,510
87, 248
84,115
79, 894
76, 112
3,782
4,220
85, 656
82, 547
78, 256
74, 730
3,525
4,292
412
375
80, 987
78, 142
74, 528
3,614
2,845
385
81,325
78,194
74, 696
3,498
3,131
392
81, 523
78, 445
74, 999
3,446
3,078
363
81,379
78, 528
75,094
3,434
2,851
389
81,583
78, 737
75, 302
3,435
2,846
392
82, 213
79,041
75, 615
3,426
3,172
409
82, 249
78, 822
75, 323
3,499
3,427
465
82, 769
79,112
75, 562
3,550
3,657
545
82, 872
78, 924
75, 338
3,586
3,948
569
82, 555
78, 449
74, 836
3,613
4,106
612
82, 125
78, 225
74, 671
3,554
3,900
685
82,813
78,638
75, 119
3, 519
4,175
711
82, 676
78, 445
75, 025
3,420
4,231
736
83, 031
78, 424
75, 025
3,399
4,607
792
3.6
2.2
3.8
12.7
1.6
6.7
3.2
2.0
4.1
3.5
2.1
3.7
12.2
1.5
6.4
3.1
2.1
3.9
3.5
2.1
3.8
12.3
1.5
6.4
3.2
2.2
3.8
3.8
2.4
3.9
12.9
1.7
6.7
3.5
2.2
4.4
3.8
2.3
3.8
12.9
1.6
6.6
3.5
2.4
4.2
3.5
2.1
3.6
11.8
1.5
6.2
3.2
2.1
4.2
3.5
2.2
3.5
11.8
1.7
5.7
3.2
2.1
4.3
3.9
2.5
3.6
13.8
1.8
6.3
3.6
2.1
4.6
4.2
2.8
4.4
2.9
4.8
3.2
5.0
3.5
13.4
2.0
7.0
3.8
2.3
5.0
13.9
2.2
7.1
4.1
2.7
5.2
15.7
2.4
8.7
4.3
2.9
5.7
14.3
2.6
8.0
4.6
2.8
6.2
4.7
3.5
4.5
14.6
2.5
8.7
4.2
2.6
6.3
5.0
3.7
5.0
13.9
2.7
8.3
4.7
3.1
6.6
5.1
3.7
4.8
15.9
2.8
8.4
4.8
2.7
7.0
5.5
4.0
5.1
16.8
2.9
9.0
5.1
2.8
7.5
3.6
6.9
3.3
3.0
3.5
6.0
3.3
3.0
3.5
7.0
2.9
2.3
3.9
7.4
3.7
3.2
3.8
7.3
3.6
3.2
3.6
5.4
3.7
3.6
3.6
6.0
3.8
3.7
3.9
7.1
3.8
3.8
4.3
7.9
4.6
4.7
4.6
8.1
4.7
4.8
4.8
8.1
4.7
4.9
5.2
11.9
5.2
4.9
5.2
10.9
5.3
5.1
5.6
11.0
6.0
5.9
5.5
12.2
5.7
5.5
6.0
13.8
6.1
6.3
i 201. 18 i 203. 21
LABOR FORCE
Labor force, persons 16 years of age and over, .thous. .
Civilian labor force.-_
__do
Employed, total
- __do
Nonagricultural employment--do
Agricultural employment
do
Unemployed (all civilian workers)
do
Seasonally Adjusted t
Civilian labor force}:
do
Employed, total
_do
Nonagricultural employment
do.._
Agricultural employment
do __
Unemployed (all civilian workers)... ..do
Long-term, 15 weeks and over
do __
Rates (unemployed in each group as percent
of total in the group) :t
All civilian workers
Men, 20 years and over
_
Women, 20 years and over
_ _ ...
Both sexes, 16-19 years
_.
Married men
Negro and other races
White workers
Occupation: White-collar workers
Blue-collar workers
.
Industry of last job (nonagricultural):
Private wage and salary workers
Construction
Manufacturing..
Durable goods
82, 271
78, 737
75, 921
72,104
3,817
2,816
EMPLOYMENT
Employees on payrolls of nonagricultural estab.rf
Total, not adjusted for seasonal variation, -thous. Seasonally Adjusted
Total
thous
Mining
do
Contract construction
do
Manufacturing..
- .. . - _
do
Durable goods
do. - -
67, 915
70, 274
70, 758
70, 964
71,333
71, 354
71, 760
69, 933
70, 029
70, 460
70, 758
70, 780
71, 385 r 70, 602 '70,534
70, 760
67, 915
606
3,285
19, 781
11, 626
70, 274
619
3,437
20, 169
11, 893
70, 497
621
3,420
20, 246
11, 950
70,567
623
3,436
20, 252
11, 968
70,836
622
3,445
20, 233
11, 965
70, 808
624
3,473
20, 082
11, 782
70, 842
627
3,496
20, 082
11, 773
70, 992
625
3,394
20, 018
11,679
71, 135
626
3,466
19, 937
11, 625
71, 256
626
3,481
19, 944
11,648
71, 163
622
3,426
19, 795
11, 529
70, 852
620
3,351
19, 572
11, 386
70, 603 r 70, 546 '70,384
620
618
'620
3,324
3,314 ' 3, 301
19,477 ' 19, 402 ' 19, 276
11,286 11,217 '11,133
70, 380
614
3,232
19, 276
11, 137
Ordnance and accessories
do
Lumber and wood products. . ... .do. ..
Furniture and
fixtures
do
Stone, clay, and glass products..
do
Primary metal industries
do
Fabricated metal products. _
do
Machinery, except electrical
do
Electrical equip, and supplies
do
Transportation equipment
do
Instruments and related products
do
Miscellaneous manufacturing ind
do
Nondurable goods..
.
do
Food and kindred products
do
Tobacco manufactures
do
Textile mill products. . _ .
do
Apparel and other textile products. . .do
Paper and allied products
. .do
Printing and publishing
do
Chemicals and allied products
. do
Petroleum and coal products
do
Rubber and plastics products, nee . .do
Leather and leather products
do
338
600
472
636
1,316
1,390
1,966
1,974
2,039
462
433
8,155
1,782
85
994
1,406
691
1,065
1,030
187
561
355
319
609
484
656
1,358
1,442
2,028
2,013
2,067
476
440
8,277
1,796
82
999
1,412
712
1,093
1,061
183
594
345
316
607
484
655
1,367
1,451
2,028
2,043
2,081
479
439
8,296
1,801
86
992
1,410
714
1,097
1,064
190
597
345
306
606
483
657
1,381
1,452
2,041
2,049
2,078
477
438
8,284
1,799
83
992
1,409
715
1,100
1,064
189
596
337
298
601
483
658
1,386
1,445
2,050
2,051
2,078
476
439
8,268
1,780
81
991
1,406
716
1,106
1,062
191
596
339
296
603
479
659
1,384
1,444
2,043
1,934
2,028
476
436
8,300
1,806
80
993
1,405
718
1,109
1,064
191
596
338
290
606
478
659
1,380
1,447
2,051
1,930
2,009
476
447
8,309
1,805
77
995
1,410
720
1,110
1,067
192
594
339
281
605
477
653
1,360
1,436
2,043
1, 922
1,988
474
440
8,339
1,817
80
999
1,416
721
1,113
1,068
193
595
337
277
598
472
657
1,349
1,428
2,048
1,993
1,890
472
441
8,312
1,830
80
987
1,398
720
1,113
1,067
193
591
333
271
593
471
651
1,337
1,425
2,046
1,995
1,950
472
437
8,296
1,823
81
980
1,396
721
1,113
1,066
194
589
333
261
585
468
644
1,323
1,411
2, 032
1,979
1, 925
471
430
8,266
1,805
81
979
1,394
721
1,111
1,063
193
585
334
256
582
456
638
1,309
1, 394
2,004
1,956
1, 897
468
426
8,186
1,805
81
971
1,375
714
1,108
1,060
192
548
332
250
575
453
636
1,305
1,388
1,982
1,936
1,876
461
424
8,191
1,800
81
959
1,385
711
1,103
1,055
193
570
334
4,310
14, 084
3,611
10, 473
3,382
10, 623
11,845
2,737
9,109
4,431
14, 645
3,738
10, 907
3,557
11,211
12,204
2,758
9,446
4,457
14, 713
3,751
10, 962
3,580
11, 248
12, 212
2,749
9,463
4,459
14, 739
3,762
10, 977
3,584
11,289
12, 185
2,747
9,438
4,463
14, 824
3,775
11,049
3,596
11, 361
12, 292
2, 739
9,553
4,464
14, 848
3,782
11, 066
3,611
11,383
12, 323
2,730
9,593
4,469
14, 750
3,807
10, 943
3,626
11,431
12, 361
2,721
9,640
4,507
14, 938
3,828
11,110
3,648
11,472
12, 390
2,717
9,673
4,496
14, 987
3,834
11, 153
3, 652
11,530
12, 441
2,718
9,723
4,502
14, 984
3,847
11,137
3,665
11,537
12,517
2,780
9,737
4,468
14, 991
3,853
11,138
3,673
11,564
12, 624
2,852
9,772
4,478
14, 968
3, 859
11, 109
3,677
11, 572
12, 614
2,781
9,833
4,511
14, 927
3,849
11,078
3,679
11,532
12, 533
2,663
9,870
14, 763
14, 680
14, 402
14, 346
14, 385
14, 240
14, 061
14, 261 ' 13, 958 '14,110
14, 638 14, 573 14, 489 14, 512
8,409
8,367
8,425
8,516
151
155
164
156
511
524
515
523
390
390
396
395
517
522
527
520
1,063
1,072
1,086
1,103
1,087
1,090
1,100
1,110
,381
1,383
1,391
1,381
1,246
1,323
1, 255
1,319
1,384
1,403
1,358
1,291
292
289
289
289
351
343
343
339
(USDL, Bureau of Labor Statistics).
] See corresponding note, p. S-14.
14,389
8,318
143
504
386
512
1,049
1,079
1,366
1,313
1,345
289
332
14, 180
8,186
141
501
375
506
1,037
1,060
1,340
1,294
1,317
286
329
14, 140 '14,090 ' 13, 978 13, 996
8,134 ' 8, 082 ' 8, 015 8,036
126
137
'131
' 129
495
492
'491
'480
372
372
'372
'373
505
507
'500
' 499
1,034
1,033 ' 1, 033 1,044
1,063
1,057 ' 1,058 ' 1,058
1,321
1, 316 ' 1, 291 1,283
1,297
1, 289 ' 1, 26!) 1,278
1,273
1,309 ' 1, 290 1, 278
277
280
273
'278
321
' 323
327
324
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 adjusted
thous. . 14, 514
14, 768 15, 014 15,041 14, 953
Seasonally Adjusted
Total _
thous
14, 768 14, 826 14, 826 14, 794
14, 514
Durable goods .
do
8,457
8,698
8,648
8,713
8,703
Ordnance and accessories . .
do
192
184
174
181
170
Lumber and wood products
do
521
529
527
520
525
Furniture andfixtures..
do
390
401
402
401
401
Stone, clay, and glass products . . . . _ do
526
509
524
526
526
Primary metal industries
do
1,046
,085
1,093
1,106
1,112
Fabricated metal products
do
1,072
,110
1,115
1,116
1,107
Machinery, except electrical
do
1,342
1,374
,379
1,386
1,391
Electrical equipment and supplies - . .do
1,341
1,363
1,319
1,367
1,373
Transportation equipment
do
1,441
,456
1,481
1,477
1,468
Instruments and related products
do
294
285
296
294
293
Miscellaneous manufacturing ind
do
340
344
342
341
342
r Revised.
» Preliminary.
1 As of July 1.
^Effective with the Mar. 1970 issue of the SURVEY, labor force data reflect new seasonal
factors; comparable figures for prior periods appear in EMPLOYMENT AND EARNINGS, Feb. 1970
14,638
8,522
168
522
397
526
1,108
1,106
1,384
1,264
1,418
292
337
'243
239
^570
'568
'454
'452
'628
'629
1,301 ' 1, 300
1, 387 ' 1, 386
1, 969 ' 1, 943
1, 934 ' 1, 905
1, 853 ' 1, 839
'453
458
420
'419
8, 185 ' 8, 143
1, 781) ' 1, 791
81
'81
' 955 ' 951
1, 393 ' 1, 375
'706
704
1, 105 ' 1, 103
1,054 ' 1, 053
191
' 191
'569
'578
'333
'325
233
572
452
636
1,313
1,392
1, 929
1, 911
1,827
456
416
8,139
1,786
70
952
1,372
708
1, 109
1,058
191
571
322
4,539 ' 4, 522
' 14, 933 '14,910
3,856 ' 3, 843
'11,077 '11,067
3,676 ' 3, 668
'11,514 '11,515
' 12, 550 ' 12, 572
2,627 ' 2, 623
' 9, 923 ' 9, 949
4,526
14,931
3,834
11,097
3,675
11, 533
12, 593
2,611
9, 982
'
'
'
'
'
'
'
'
r
14, 210
S-14
October 1970
STJRVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
1968
|
1969
Annual
1969
Aug.
Sept.
Oct.
1970
Nov.
Dec.
Jan.
Mar.
Feb.
Apr.
May
June
Aug.
July
Sept.*
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT— Continued
Seasonally Adjusted
Production workers on manufacturing payrolls—
Continued^
Nondurable goods
thous. _
Food and kindred products
do
Tobacco manufactures
do
Textile mill products
do
Apparel and other textile products
do
Paper and allied products
. . do
Printing and publishing
do
Chemicals and allied products
do
Petroleum and coal products
.
do
Rubber and plastics products, nee
do
Leather and leather products
do
6,056
1,192
72
881
1,240
536
667
610
118
435
306
6,120
1,205
69
881
1,241
552
682
622
113
460
296
6,128
1,209
72
874
1,238
552
683
623
118
463
296
6,113
1,207
69
874
1,236
554
685
621
118
462
287
6,091
1,187
68
872
1,234
554
689
619
118
460
290
Average weekly gross hours per production worker
on payrolls of private nonagricultural estab.rt
Mining
hours
Contract construction
_ do
Manufacturing: Not seasonally ad justed .. -do
Seasonally adjusted
do .
Overtime hours
do
42.6
37.4
40.7
43.0
37.9
40.6
36
36
43 1
37 9
40 6
40.6
36
43 1
38 1
41.0
40.7
36
43 0
37 6
40.7
40.5
35
43
38
40
40
3
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
41 4
38
41.5
40.6
40 6
41 8
41 6
41.7
42 1
40.3
42.2
40.5
39.4
41.3
3.8
40.4
40.2
40 4
42 0
41 8
41.6
42 5
40.4
41.5
40.7
39.0
41 2
38
40.4
39.9
40 3
41 9
41 9
41.6
42 5
40.4
41.2
40.9
39.1
41 4
38
40.3
40.0
40 1
41.9
42.1
41.5
42 6
40.4
41.6
41.0
39.0
41 2
36
40.2
39.9
39 9
41 7
42.1
41.4
42 4
40.2
41.2
40.7
38.9
Nondurable goods
Overtime hours
...
Food and kindred products .-Tobacco manufactures ._
Textile mill products
__
...
Apparel and other textile products
do
do
do. .
do
.do
do
39 8
33
40 8
37 9
41 2
36.1
39 7
3 4
40 8
37 4
40 8
35.9
39 7
3.4
40.9
37 2
40 9
35.9
39 7
3.3
40.9
37 4
40.7
35.8
do do
do
do
do
do
42 9
38.3
41 8
42 5
41.5
38.3
43 0
38.4
41 8
42 6
41.1
37.2
42.9
38.4
41 8
42 8
40.9
36.9
-do
do
do.
do
do
do
40.6
36 0
40 1
34 7
37 0
34 7
40.7
35 6
40 2
34 2
37 1
34 7
6,116
1,214
67
873
1,233
554
690
619
118
459
289
6,122
1,213
64
874
1,238
557
691
620
118
457
290
6,148
1,226
67
878
1,242
558
691
619
119
459
289
6,122
1,241
67
867
1,226
557
690
616
119
454
285
' 5, 963 5,960
' 1, 206 1,202
57
68
836
' 835
1, 223
' 1, 205 1,203
T
546
544
'541
r
r 676
680
685
'602
605
'605
116
' 118 ' 117
'444
'435
436
285
274
'278
6,103
1,235
67
861
1,223
558
690
613
119
453
284
6,071
1,217
67
860
1,221
556
687
610
118
450
285
5,994
1,216
68
852
1,206
551
681
606
118
412
284
6,006
1,214
67
842
1,214
549
679
603
118
434
286
r 6, 008
r 1, 203
67
r
839
r
HOURS AND MAN-HOURS
Seasonally Adjusted
Paper and allied products
Printing and publishing
Chemicals and allied products. _
Petroleum and coal products
Rubber and plastics products, nee
Leather and leather products
Trans., comm., elec., gas, etc*
Wholesale and retail trade _ . . _
Wholesale trade
Retail trade
-Finance, insurance, and real estate
Services*
2
2
0
7
5
42 7
36 7
40.1
40.3
33
43
38
39
39
3
4
2
8
9
2
43 2
38 0
40 0
40.2
32
43.1
38.3
39.7
40.0
3.0
42.6
38.1
39.8
39.8
2.9
42 4
37 6
40.0
39.8
31
'42 5
37 4
39.9
40.1
30
'42 1
'37 3
'39 8
'39.8
30
42 1
34 7
39 7
39.4
2 7
41 1
35
40.3
40.2
40 0
41 8
41 6
41.4
42 2
4<)!l
40.7
40.9
38.9
41 3
36
40.5
40.3
40 0
42 1
41 7
41.5
42 6
40.3
41.4
40.9
39.3
41 0
34
40.6
39.6
39 5
41 7
41.2
41.4
42 2
40.5
40.2
40.7
39.3
40 5
32
41.3
40.1
39 3
41.7
40.9
41.1
41 9
39.7
40.3
40.2
38.6
40 7
32
41.1
39.5
39 4
41 8
40 7
41.2
41 8
40.2
40.4
40.7
39.0
40.4
3.0
41.1
39.8
39.3
41.6
40.1
40.9
41.4
40.0
39.7
40.5
39.0
40.3
3.0
40.8
39.7
38.8
41.3
40.2
40.6
41. 1
39.7
40.3
40.1
38.7
40 4
3.2
40.6
39.6
38 9
41.1
40.4
40.9
41. 1
39.5
41.6
40.2
- 38.6
40 7
31
40.3
39.8
'39 3
41 2
'40 7
41.3
41 1
40.4
41.2
'40.3
'39.1
'40 3
'2 9
'40.3
'39.9
' 39 0
'41 0
'40 5
'40.5
40 9
'39.9
'40.7
'40.0
'38.4
40 1
27
39.7
39.2
38 5
40 8
41 1
40.0
39 9
38.9
42.0
38.5
37.7
39.6
3.3
40.6
37 3
40.6
35.8
39 6
33
40.8
37 2
40 7
35.8
39 8
33
40.8
36 2
40 9
36.0
39.6
3.4
41.0
38.3
40.4
35.6
39 3
3.2
40.7
37.3
40.1
35.5
39 4
32
40 5
37 5
40 2
35.6
39.4
3.0
40.6
38.3
40.6
35.5
39.1
3.0
40.7
37.1
39.8
35.1
39.0
3.0
40.3
37 4
40.0
35.2
r 39 3
2 9
40 2
' 37 9
40 3
35.5
r 39 2
'3 0
r 40 8
37 5
39 g
'35.1
38 5
2 5
39 9
37 2
38 8
34.1
42.9
38.3
41 8
42.2
41.0
37.1
42.8
38.2
41 7
42.6
40.9
37.2
42 7
38.4
41 8
42 6
40.8
37.3
42 8
38.6
41 8
42 3
41.1
37.7
42.8
38.2
42 0
42.5
40.9
37.5
42.3
38.0
41.8
42.7
41.0
37.1
42 2
38.0
41 8
42 2
40.7
37.4
42.1
37.9
41.4
41.9
40.7
37.4
41.8
37.7
41.5
42.5
40.0
37.7
41.6
37.7
41 5
42.6
40.4
37.6
41 7
37.9
41 5
r 42 6
'40.8
'37.6
r 41 6
r 43 o
40.4
'36.7
41 2
37.1
42 0
43 0
39.4
35.8
40.5
35 7
40.3
34 2
37.0
35 0
40.8
35.6
40.3
34 1
37.1
34 7
40.9
35.5
40.3
34.0
37.0
34 6
40.7
35 5
40.3
34 0
37 2
34 7
40.8
35 5
40 5
33 8
36 9
34 6
40.7
35.4
40.3
33.8
36.9
34 4
40.7
35.4
40.2
33 7
37.0
34 4
40.6
35 3
40 1
33 8
37.0
34 7
40.2
35.3
40.1
33.7
36.9
34 4
40.6
35.4
40.1
33.9
36.8
34 5
40.6
35 4
39.9
33 8
36.7
34 4
r 40 0
40.6
r 35 4
r 39 9
' 33 9
r 36 9
40.3
35 1
39 6
33 9
36 9
139. 09
139. 75
139. 76
139. 90
139. 97
140. 25
139. 44
139. 70
140. 21 139.74
139. 05
118.1
80 6
119 2
119 8
126 0
118.4
81.1
118 9
120.2
126 6
118.7
81.5
120 1
120 3
127 1
117.9
81.1
118 8
119.6
126 4
117.1
82 0
121 4
118 1
123 3
117.8
81.8
122 5
118.7
124 1
115.4
80.9
113.4
117.5
121.8
115.6
82.2
121 1
116.1
120.0
115.5
81.6
120 6
116.3
120 8
114.1
81.1
119.7
114.7
118.5
111.7
79.5
116 0
112.6
116 3
111.3
79 3
113 4
112 6
116 2
' 111. 3 ' 109. 8
r 148 5
5
1
6
5
5
43
38
41
40
3
'37.7
r 41 3
40.7
r 35 4
33 9
36 8
34 6
T
ox 7
•3A a
Seasonally Adjusted
Man-hours in nonagric. estab., all employees, seasonally adjusted at annual ratef _bil. man-hours. . 134. 77
Man-hour indexes (aggregate weekly), industrial
and construction industries, totall
1957-59 = 100-.
115.5
Mining _ _ --do
77 9
Contract construction
do
112 6
Manufacturing
... ._ ... do
118 0
Durable goods
do
123 5
Ordnance and accessories
Lumber and wood products
Furniture and
fixtures
Stone, clay, and glass products
138. 39 ' 138.70 ' 138.18
137.07
107.4
r 78 4
77 6
112 7 ' 111 8 101 4
' 112 7 r HI 0
110 0
116 1 '114 1
113 6
r 79 1
. do
do
do
do
223 7
94 3
127 3
108 9
208 6
94 8
130 3
113 0
205 7
93.8
130.3
112 3
197 3
93.7
129.4
112 7
192 3
92 6
128.7
112 2
190 5
93 6
127.7
112 5
186 9
94.2
127.4
113 5
178.2
92.4
125.5
110.9
180.1
92.1
123.3
111.3
174 6
90.1
123.6
110 5
165.4
89.5
122.0
108.9
161 9
88.7
117.0
106 9
156 5
87 5
116.4
106 2
do
do
-do
110 3
126.5
133 2
114 9
130.7
138 2
116.0
131.4
137.8
118.0
131.2
139 3
118.6
129.8
139 1
116.8
129.7
137 8
116. 5
130.5
139 8
113.4
129.0
137.7
111.1
126.9
136.5
109.6
126.9
136 2
106.6
125.0
133.4
105.6
121.9
129 9
105.8 r 106 5 ' 106 0 108 7
122.5 ' 123. 8 ' 121.4
120.4
128 1
127 6 ' 124 6 190 8
Electrical equipment and supplies. .. do - Transportation equipment
do
Instruments and related products
do
Miscellaneous manufacturing ind_
-_do ...
143 0
122.4
126 6
109 4
145 7
121.5
131 4
109 6
148.1
122.8
132.7
109.2
148.5
123.6
132 1
108.6
148.5
121.7
130 7
108.7
136.3
116.1
130 9
107.1
136.0
116.9
130 9
112.7
135.7
112.0
128.9
110.1
140.8
104.7
127.3
108.1
143.0
110.4
128.9
108.0
141.3
107.4
128.3
105.7
138.2
106.8
125 7
104.0
137.8
140 1
109.6 '106.9
123 4 r 122 8
103 1 r 103 5
Nondurable goods
do
Food and kindred products..
...do ..
Tobacco manufactures
do
Textile mill products
do
Apparel and other textile products. . do
110 8
96 2
83.1
107 1
117 3
111 6
97 4
78.3
106 2
116 9
111.8
97.9
81.6
105 6
116.6
111 4
97.8
78.7
105 1
116.0
110 7
95.4
77.3
104 6
115 9
111 4
98.1
76.0
104 9
115.8
111 8
98.0
70.6
105 6
116.9
111.9
99.5
78.2
104.8
116.0
110.8
100.0
76.2
102.7
114.1
110.4
99.0
76.6
102 2
114. 2
109.8
97.8
78.2
103. 1
113.7
107 7
98.0
76.9
100 2
111.0
107 9 r JOS 3 r 107 1
96 9
' 95 8 ' 97 4
76.4
'77.4
'77.7
99 5
r QQ Q
T QS 9
112 1 T 113 9 r HO 9
1ft7 fi
117.4
117 3
122.7
83.0
158.5
95.9
120.9
120 2
125.3
79 3
166.3
90.1
120.9
120.5
125.4
83 4
166.5
89.4
121.3
120 6
125.0
82 2
166.6
87.1
121.0
121 0
124.3
83 0
165.5
88.3
120.7
121 8
124.6
83 0
164.7
88.2
121.7
122.6
124.8
82 4
165.2
89.5
121.9
121.3
125.2
83.5
165.1
88.7
120.2
120.5
124.0
83 9
163.7
86.5
120.2
120.5
123.4
82.9
162.1
86.9
119.5
119.7
121.6
81.7
161.1
87.2
117.5
118 0
121.1
82 8
144.9
87.6
116.6
117 6
120.5
83 0
154.2
88.0
151.1
80.3
Primary metal industries
Fabricated metal products
Machinery, except electrical
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
r
Revised.
*> Preliminary.
^Beginning with the June 1970 SURVEY, payroll employment, hours, earnings, and turnover
data reflect actual employment levels for Mar. 1969 and new seaawml factors. Data in the 1969
BUSINESS STATISTICS are in accordance with Mar. 1968 b«nchfl»rfe5 and are not comparable
' r146 3 140 7
87 0
86 0
r H6 7
115 2
' 105 2 ' 104 8 105 8
' 87 2
r H7 9
136 2
133 7
' 104.7
107.6
' 119 7 116 9
' 101 3 no* Q
r
105 2
95 0
64.6
QC
0
' 115. 8 ' 114. 9 114.8
T 1 18 4 ' 117 1 i ifi ft
'120.9 ' 119. 8 122.4
r 851 O
r ft3 1
' 159. 3 '154.6
'87.7 '83.5
with current estimates nor with the revised historical statistics to appear in the 1970 BLS
Bulletin No. 1312-7, "EMPLOYMENT AND EARNINGS, UNITED STATES, 1909-70," to be available
from the Superintendent of Documents, Govt. Printing Office, Wash., D.C. 20402.
* New series.
f Data beginning 1968 revised to new benchmarks.
SURVEY OF CURRENT BUSINESS
October 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1970
1969
1969
Annual
S-15
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June i July
Aug.
Sept.*
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
WEEKLY AND HOURLY EARNINGS
Not Seasonally Adjusted
A vg. weekly gross earnings per prod, worker on payrolls of private nonagricultural estab.: 1
Mining
..
.
dollars .
Contract construction
do
Manufacturing establishments —
.do
Durable goods
Ordnance and accessories
Lumber and wood products..
Furniture and
fixtures
Stone, clay, and glass products .
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
Trans., comm., elec., gas, etc.*
Wholesale and retail trade
Wholesale trade
Retail trade.Finance, insurance, and real estate
Services*.
_. _
142. 71
164.93
122. 51
154.80
181. 16
129. 51
156.96
187.68
129. 92
158.41
193. 36
132. 84
159.78
189. 97
132. 28
161.08
184. 39
132. 36
160.64
189. 13
134. 89
159.05
181.00
131. 93
160.60
186.21
130. 94
160.27
188. 23
132. 40
163.35
192.91
131. 80
162.26
194.31
132. 93
163.88 r 163. 88 '163.58
196. 99 r 200. 20 '203.67
134. 40 134. 46 ' 134. 13
132. 07
135. 29
104.34
100. 28
124. 98
147. 68
131. 77
141. 46
118. 08
155. 72
120. 69
98.50
140. 01
138. 17
110. 15
105. 85
133. 98
158. 42
138. 94
152. 15
124. 84
161. 85
128. 21
103. 74
139. 33
137. 89
112. 16
107. 71
136. 53
160. 51
139. 28
149. 94
124. 93
158. 76
128. 21
103. 22
143. 45
140. 48
114. 45
109.08
137. 80
162. 93
143. 14
155.00
127. 39
166. 66
131. 43
105.06
142.83
140. 24
114. 05
108. 81
137. 67
160. 55
141. 36
155. 61
126. 45
165. 51
131. 29
105. 72
142. 55
143. 32
114. 11
108. 81
137. 85
159. 39
141. 86
154.87
126. 77
165. 17
132. 75
106. 90
145.53
143. 91
113.88
110. 57
137. 76
161. 38
143. 79
160. 33
129. 65
170. 49
134. 23
109.02
142.04
144.73
110. 65
105. 42
134. 15
159. 42
141. 45
156.14
128. 15
161. 20
132. 03
108. 25
140. 24
144. 43
111.90
104.49
134. 15
157. 08
140. 48
155. 87
127. 04
157. 21
131. 45
108.64
142. 51
145.66
112. 97
105. 96
137. 12
157. 49
142. 33
157. 88
129. 92
160.40
133. 50
109. 20
141. 50
146.06
114.62
105. 65
139.03
156.35
142.10
155.25
128.30
156.80
132. 59
108. 64
143.07
146.47
117.09
105.88
140.27
157. 56
143. 26
154.95
129.49
164.02
132.00
108.47
144. 94
146. 11
119. 50
107. 92
141. 10
159.54
145. 49
155. 32
130.68
170. 56
133.39
108. 75
143. 87 ' 143. 92
143. 28 ' 145. 16
118. 31 '122.61
' 107. 86 '111.00
' 141. 25 ' 142. 35
'159.96 ' 161. 20
144. 79 ' 144. 54
153.06 152. 31
132. 14 '131.74
166. 06 ' 164. 00
'132.87 '134.13
'108.29 '108.29
147.06
146.00
119. 29
110. 26
142.90
168. 92
146. 97
152. 40
131. 32
176. 35
132. 74
108. 02
do
do
do
.do
do
109. 05
114. 24
93.99
91.05
79.78
115. 53
120. 77
97.99
95.47
82.93
116. 51
121. 72
93.38
97.58
83.85
118.00
124. 15
97.89
98.81
83.77
117. 51
121. 29
96.11
98.57
83.77
118. 21
123. 41
97.73
99.46
83.77
119. 60
124.64
98.26
99.95
84.37
117. 99
124. 74
106. 39
96.80
83.07
117. 69
123. 20
106.64
96.80
83.78
118. 78 .118.56
124. 00 124. 49
105. 56 110. 56
97.04
96.56
83.90
84.85
118. 95
127. 98
110. 03
96.47
82.84
119. 95 '121.44 '121.35
127. 58 128.61 '128.86
115. 14 '113.63 '105.46
97.93
96.96
97.36
84.25 '84.61 ' 85. 56
121. 44
129. 43
110. 19
95. 80
83.55
.do
do
do
. -do
do
do
130. 85
133. 28
136. 27
159. 38
121. 18
85.41
139. 32
141. 70
145. 05
170. 40
126. 18
87.79
141. 37
142. 82
145. 95
171. 17
126.28
87.19
143. 32
144. 75
147. 14
172. 10
129. 90
87.58
142.66
144. 77
148.04
173. 77
128. 86
88.80
142. 43
145. 15
149. 52
175. 07
128.64
90.51
144.29
148. 59
150. 36
170. 97
130. 31
93.45
142. 04
143. 26
150.12
176. 40
128. 21
92.74
140. 37
144.02
149. 76
176. 81
127. 48
92.38
140.70
145. 92
150.48
176. 81
127. 26
91.64
140. 53
145. 15
150. 18
179. 77
127. 35
90.02
142.12
145. 89
151. 42
181.90
123.29
93.38
146. 85
148. 85
159. 18
187. 49
128. 48
88.75
do
do
do
do
do
do.
138. 85
86.40
122.31
74.95
101. 75
84.32
147. 74
91.14
129. 85
78.66
108. 33
91.26
149. 74
93.70
131. 22
81.19
108. 04
92.49
152. 11
92.46
132. 18
79.69
108. 41
92.38
151. 70
92.13
132. 59
79.20
109.45
92.81
152. 15
92.58
133. 87
79.30
111.23
94.11
151. 78
93.18
135. 94
80.14
110. 26
94.11
151. 07
93.02
134.67
79.49
111.44
93.98
151.88
93.80
135. 20
79.92
112. 48
95.01
150. 75
93.80
136.00
80.49
112. 85
96.81
149. 25
93.88
135. 66
80.25
111.81
95.70
153.12
94.50
136.06
81.41
111. 57
96.04
142. 61 144. 70 ' 145. 88
147. 03 148. 18 ' 149. 33
152. 72 153. 59 ' 153. 68
181.04 '184.45 '183.18
127. 26 ' 129. 68 '130.41
94.87 ' 93. 99 ' 91. 14
156.29 159.06 159. 10
96.12 ' 98. 10 ' 98. 74
136. 80 '137.83 ' 137. 94
82.86
85.16 ' 85. 40
111. 57 112. 61 '113.65
96.95
98.77 '100.10
3.35
4.41
3.01
2.88
3.19
3.05
3.26
2.57
2.47
2.99
3.60
4.78
3.19
3.06
3.39
3.24
3.42
2.74
2.62
3.19
3.60
4.80
3.20
3.06
3.39
3.24
3.43
2.79
2.64
3.22
3.65
4.92
3.24
3.09
3.44
3.28
3.46
2.84
2.68
3.25
3.69
4.96
3.25
3.11
3.45
3.29
3.48
2.83
2.68
3.27
3.72
4.97
3.26
3.12
3.46
3.31
3.53
2.86
2.70
3.29
3.71
5.03
3.29
3.15
3.49
3.34
3.51
2.84
2.71
3.28
3.76
5.07
3.29
3.17
3.49
3.36
3.53
2.83
2.71
3.28
3.77
5.06
3.29
3.17
3.48
3.36
3.54
2.84
2.70
3.28
3.78
5.06
3.31
3.19
3.51
3.38
3.57
2.86
2.71
3.32
3.79
5.09
3.32
3.21
3.52
3.40
3.58
2.88
2.73
3.35
3.80
5.10
3.34
3.22
3.55
3.42
3.59
2.92
2.75
3.38
3.82
5.13
3.36
3.23
3.57
3.44
3.59
2.98
2.76
3.40
'3.82
'5.20
3.37
3.25
3.57
3.45
3.60
2.98
2.78
'3.42
'3.84
'5.29
'3.37
'3.25
3.58
'3.46
'3.62
'3.05
'2.81
3.43
3.88
5.34
3.43
3.30
3.64
3.51
3.65
3.02
2.82
3.46
3.55
3.16
3.36
2.93
3.69
2.98
2.50
3.79
3.34
3.58
3.09
3.90
3.15
2.66
3.84
3.34
3.57
3.10
3.92
3.15
2.64
3.87
3.40
3.63
3.13
3.94
3.19
2.68
3.85
3.39
3.67
3.13
3.95
3.21
2.69
3.85
3.41
3.67
3.13
3.98
3.23
2.72
3.87
3.44
3.72
3.17
4.04
3.25
2.76
3.86
3.45
3.70
3.18
4.02
3.26
2.79
3.85
3.46
3.72
3.20
3.97
3.27
2.80
3.86
3.48
3.75
3.24
4.01
3.28
2.80
3.87
3.50
3.75
3.24
4.00
3.29
2.80
3.90
3.52
3.77
3.27
4.06
3.30
2.81
3.92
3.54
3.77
3.30
4.10
3.31
2.81
3.94
3.54
3.77
3.32
4.08
3.33
'2.82
'3.99
'3.56
3.77
'3.31
'4.10
'3.37
'2.82
4.11
3.62
3.81
3.35
4.13
3.43
2.85
2.74
2.63
2.80
2.48
2.21
2.21
3.05
3.48
3.26
3.75
2.92
2.23
3.42
2.40
3.05
2.16
2.75
2.43
2.91
2.79
2.96
2.62
2.34
2.31
3.24
3.69
3.47
4.00
3.07
2.36
3.63
2.56
3.23
2.30
2.92
2.63
2.92
2.80
2.94
2.49
2.38
2.31
3.28
3.70
3.50
3.99
3.08
2.35
3.67
2.56
3.24
2.30
2.92
2.62
2.95
2.82
2.97
2.51
2.41
2.34
3.31
3.75
3.52
4.04
3.13
2.38
3.71
2.59
3.28
2.33
2.93
2.67
2.96
2.84
2.98
2.49
2.41
2.34
3.31
3.77
3.55
4.06
3.12
2.40
3.70
2.61
3.29
2.35
2.95
2.69
2.97
2.85
3.01
2.62
2.42
2.34
3.32
3.78
3.56
4. 10
3.13
2.42
3.72
2.63
3.33
2.36
2.99
2.72
2.99
2.87
3.04
2.67
2.42
2.35
3.34
3.81
3.58
4. 10
3.14
2.44
3.72
2.61
3.34
2.35
2.98
2.72
3.01
2.90
3.08
2.86
2.42
2.36
3.35
3.80
3.60
4.21
3.15
2.46
3.73
2.65
3.35
2.38
3.02
2.74
3.01
2.90
3.08
2.89
2.42
2.36
3.35
3.81
3.60
4.23
3.14
2.47
3.75
2.68
3.38
2.40
3.04
2.77
3.03
2.92
3.10
2.90
2.42
2.37
3.35
3.84
3.60
4.23
3.15
2.47
3.75
2.68
3.40
2.41
3.05
2.79
3.04
2.93
3.12
2.98
2.42
2.37
3.37
3.85
3.61
4.26
3.16
2.48
3.75
2.69
3.40
2.41
3.03
2.79
3.05
2.94
3.16
2.99
2.43
2.36
3.40
3.88
3.64
4.25
3.09
2.49
3.79
2.70
3.41
2.43
3.04
2.80
3.06
2.95
3.15
3.03
2.43
2.38
3.42
3.90
3.68
4.23
3.15
2.49
3.84
2.70
3.42
2.43
3.04
2.81
3.09
2.97
3.16
'3.03
2.43
'2.39
3.47
3.92
3.71
'4.25
'3.21
2.48
3.87
2.71
'3.42
2.44
3.06
2.83
3.08
2.97
'3.12
'2.79
2.44
'2.41
3.49
'3.94
3.73
'4.25
'3.22
2.47
3.89
'2.72
3.44
2.44
'3.08
'2.86
3.13
3.02
3.18
2.84
2.45
2.45
3.53
3.98
3.79
4.32
3.22
2.50
3.90
2.75
3.45
2.48
3.08
2.91
4.201
5.956
1.44
13.466
4.629
6.514
1.58
13.708
4.748
6.672
4.751
6.738
4.848
6.802
4.853
6.831
4.927
6.921
4.963
6.963
1.66
5.048
7.144
5.168
7.240
5.396
7.50
1.66
5.42
7.553
5.427
7.61
3.749
3.798
3.747
4.891
6.903
1 67
3.820
4.913
6.912
3.760
4.823
6.767
1 51
3.717
56,070
58, 070
46, 475
37.8
48,084
37.7
2.85
107. 73
3.04
114. 61
59, 059
58,285
48,953
38.1
37.7
3.06
116. 59
58, 916
58, 382
48,844
37.9
37.7
3.11
117. 87
58, 958
58,544
48,873
37.6
37.5
3.12
117. 31
58, 893
58,485
48,797
37.5
37.6
3.13
117. 38
59,206
58,481
49,097
37.7
37.6
3.12
117. 62
57,483
58,602
47, 373
37.1
37.5
3.13
116. 12
57,447
58,694
47, 316
37.0
37.3
3.15
116. 55
57,780
58,739
47,648
37.2
37.4
3.17
117. 92
58,001
58,539
47,854
36.9
37.2
3.18
117.34
58,054
58,238
47,905
37.0
37.1
3.20
118.40
58, 746 '58,485 '58,507
58,070 '57,996 ' 57, 812
48,582 '48,297 48,337
37.4
37.6 '37.6
37.2
37.3 '37.2
3.21
3.23 '3.25
120. 05 121. 45 122. 20
95.28
78.61
106.75
99.99
78.30
111. 44
101.51
78.87
111. 75
102.49
79.27
114. 01
102.06
78.63
113. 57
102.11
78.25
113.63
102.30
77.91
115. 61
101. 97
77.37
114. 48
102.32
77.22
113.69
103.39
77.62
114.85
102.95
76.83
114. 37
103.77
77.10
115.27
105.08
77.72
116. 43
R6.12
do
do
do., .
do
.do
do
do
do
do
do
do
do
Average hourly gross earnings per production
worker on payrolls of nonagricultural estab.: 5
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
Primary metal industries. .
Fabricated metal products
Machinery, except electrical
Electrical equip, and supplies
Transportation equipment
Instruments and related products
Miscellaneous manufacturing ind
N ondurabl e 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
Trans., comm., elec., gas, etc.*
Wholesale and retail trade .
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services*
do
..do
do
do
do
do
do
do
do. .
do
do
do
do
do
do
do. .
do
do
do
do
do
do
do
do
do
Miscellaneous hourly wages:
Construction wages, 20 cities (ENR) : d*
Common labor...
$perhr_.
Skilled labor
do
Farm, without board or rm., 1st of mo
do
Railroad wages (average class I)
do
PRIVATE NONPAR M SECTOR 1
Not Seasonally Adjusted
Employees on payrolls, exc. gov't. and farm:
Unadjusted
thous..
Seasonally adjusted
do
Production or nonsupervisory workers . do
Hrs. (gross), av. weekly: Unadjusted- ..hours..
S easonally adj ..do. .
Hourly earnings (gross), average
dollars. .
Weekly earnings (gross) , average
do
Spendable earnings per worker (with 3 dependents), total private§. current dollars. .
1957-59 dollars.Manufacturing
current dollars
' Revised.
*> Preliminary.
i Includes adjustments not distributed by months.
f See corresponding note, p. S-14.
* New series.
tf Wages as of Oct. 1, 1970: Common, $5.480; skilled, $7.64.
164.51
191. 17
136.17
157. 95
96.80
136. 62
83.82
113. 34
100.40
3.874
CA OO
ft.1 M
R5, fU
106.18
78.25
116. 48
RK 84
58,310
57, 787
48,202
37.0
36.8
3.28
121.36
106.78
' 78. 51
116. 22
85.46
§ Data for 1970 are calculated on an annual basis with regard to Federal income taxes.
Instead of reflecting changes as of July 1, 1970 in personal exemptions and in surtax, data
reflect personal exemptions of $625 and surtax of 2.5 percent throughout the year.
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Annual
October 1970
Aug.
Sept.
Oct.
1970
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HELP- WANTED ADVERTISING
Seasonally adjusted index t
1957-59=100..
LABOR TURNOVERA
Manufacturing establishments:
Unadjusted for seasonal variation:
Accession rate, total
mo. rate per 100 employees. _
New hires
do
Separation rate, total
- do
Quit
.
.
do
Layoff
do
Seasonally adjusted:
Accession rate total
do
New hires
do
Separation rate total
do
Quit
.
_ _ _ _ _ do
Layoff
do
206
228
224
235
227
222
217
203
203
194
186
180
175
172
4.6
3.5
4.6
2.5
1.2
4.7
3.7
4.9
2.7
1.2
5.6
4.3
6.2
4.0
1.1
C.9
4.8
6.6
4.4
1.1
5.0
4.0
5.3
2.9
1.3
3.6
2.8
4.3
2.1
1.3
2.9
2.1
4.2
1.6
1.8
4.0
2.9
4.8
2.1
1.7
3.6
2.5
4.3
1.9
1.6
3.7
2.6
4.5
1.9
1.6
3.7
2.6
4.8
2.1
1.7
4.2
2.8
4.6
2.1
1.5
5.4
3.9
4.4
2.1
1.5
'4.4
2.9
'5. 3
2.1
'2.3
5.0
3.6
5.8
3.0
1.7
4.5
3.5
5.0
2.8
1.2
4.8
3.8
4.8
2.6
1.2,
4.7
3.6
50
2.7
1.3
4.4
3.4
4 8
2.6
1.3
4.6
3.5
4 5
2.5
1.4
4.2
3.3
5.0
2.5
1.5
4.3
3.1
5.1
2.4
1.7
3.9
3.0
5.0
2.2
1.8
4.0
2.8
5.2
2.2
2.0
4.2
2.7
5.0
2.1
1.9
4.0
2.7
4 8
2.2
1.9
'4. 1
2.8
4. 9
2.2
r
1.6
4.0
2.9
4.7
2.1
1.8
5,700
2,481
538
191
554
186
531
337
324
131
196
51
260
55
290
106
390
294
600
319
750
2309
600
212
489
192
420
135
42, 869
915
395
3,634
904
274
2,193
850
421
3,168
611
368
4 308
446
276
3,882
420
233
3,730
460
296
1,820
570
364
2,230
960
2
470
7, 516
835
428
5,040
749
354
4,378
700
202
2,800
INDUSTRIAL DISPUTES
Strikes and lockouts:
Beginning in period:
5,045
Work stoppages
number
2,649
Workers involved
thous
In effect during month :
Work stoppages
number
Workers involved
thous
49, 018
Man-days idle during period
do
EMPLOYMENT SERVICE AND UNEMPLOYMENT INSURANCE
5,733
Nonfarm placements
thous
Unemployment insurance programs:
1,187
Insured unemployment, all programs §
do
State programs:
10, 463
Initial claims
do
1,111
Insured unemployment, weekly avg do
Percent of covered employment: cf
2.2
Unadjusted
Seasonally adjusted
936
Beneficiaries weekly average
thous
2,031.6
Benefits paid
mil. $
Federal employees, insured unemployment,
weekly average
_thous__
23
Veterans' program (UCX):
289
Initial claims
do
32
Insured unemployment, weekly avg_._do
Beneficiaries, weekly average
do
29
69.2
Benefits paid
mil. $
Railroad program:
139
Applications
thous
20
Insured unemployment, weekly avg .do
Benefits paid
mil. $
40.4
311
2
2
810
2385
4, 181
2
169
r
"161
5,153
471
503
463
372
295
328
352
339
374
333
1,177
1,015
902
929
1,105
1,464
1,958
1,988
1,917
1,885
1,778
1,696
1,897
1,855 P 1,747
10, 385
1,101
731
948
655
840
745
864
866
1,030
1,363
1,375
1,529
1,847
1,169
1,874
1,078
1,798
1,333
1,770
1,010
1,667
1 118
1 583
1 485
1,761
1,710 p 1,616
2.1
923
2, 127. 9
1.8
2.2
832
156.7
1.6
2.2
706
136.2
1.6
2.2
686
139.5
2.0
2.3
763
136.6
2.7
2.3
1,020
214.3
3.6
2.5
1,459
299.4
3.6
2.6
1 629
310 8
3.5
2.7
1 581
331.1
3.4
3.2
1,533
320.2
3.2
3.6
1 462
292 9
3.0
3.7
1 382
291 7
3.3
3.6
1 414
314.2
3.2
3.7
"3.0
*>4. 1
326
341
20
18
17
18
22
24
28
30
29
27
26
27
31
33
*32
333
37
34
87.0
27
37
35
7.2
26
32
30
6.5
29
32
28
6.3
30
38
32
6.2
39
48
42
9.5
44
61
55
12 0
38
66
61
12 0
42
69
66
14.2
47
70
67
14 6
38
70
67
14 0
47
73
69
15 3
51
84
77
18.0
89
p81
100
17
37.0
7
13
2.4
6
13
2.5
10
15
2.9
5
14
2.5
5
17
3.2
9
20
4. 1
4
18
34
9
19
3.7
8
16
36
4
15
2 4
12
11
2 3
21
15
2.0
16
17
3.0
J>1S
5 849
5 801
39, 674 ••37,748
12,
989
13,
952
r
25, 722 r 24, 759
5 973
36, 911
12,
034
r
24, 877
5,979
36, 524
12, 044
24, 480
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
4,428
5,451
20, 497 - 31, 709
7,201 r 11,817
13, 296
19, 892
11, 748
6,126
1,577
4,044
13, 204 !12, 841
6,714
1,732
4,758
Bank debits to demand deposit accounts, except
interbank and U.S. Government accounts,
annual rates, seasonally adjusted:
Total (233 SMSA's)O
_
bil. $
New York SMS A
do
Total 232 SMSA's (except N.Y.)
6 other leading SMSA's t
226 other SMSA's .
Reserve bank credit outstanding, total 9 __do
Discounts and advances
do
U.S. Government securities
do
Gold certificate account
6,645
1,573
i 4, 624
5,232
29, 663
11,871
17, 792
5,256
5,212
5,451
31,881 r 33, 636 '31,709
12, 086 12, 524 r 11,817
19, 795 ••21,112 19, 892
12, 996 i 12, 819 i 12, 803
6,676
6,700
1,585
1,680
4,736 i 4, 439
6,704
1 705
i 4, 394
5 288
34, 362
12,
038
T
22, 324
r
5,249
5 352
36, 020 r 37, 164
12,
875
13,
634
r
23, 145 ' 23, 530
r
5 614
37, 966
13,
735
r
24, 231
r
r
r
13,204
13 388
13, 597
13, 826
14, 032
14, 190
14, 353
14, 308
14, 338
6,714
1 732
4,758
6,738
1 804
4,846
6,777
1,844
4,975
6,833
1 840
5,154
6,891
1 828
5,313
6,942
1 796
5,452
6,995
1 749
5,609
7,026
1 762
5, 519
7,061
1,778
5,499
9, 430. 1 9,737.2 9, 527. 0 9 484.4 9,560 4 9 547 5 9,793.5 9 845 3 10 170 2 10021 8 10 143 3 10,217 9 10,559.5
4, 148. 4 4,311.5 4, 127. 6 4,207 5 4, 198 2 4,054 0 4,232.1 4 336 7 4 422 0 4 249 4 4 366 0 4 324 3 4 770.6
do
do
do
Federal Reserve banks, condition, end of period:
Assets, total 9—
mil. $
5,145
29, 515
11, 309
18, 206
5, 281. 7 5,425.7 5, 399. 3 5,276.9 5,362 2 5 493 5 5 561 4 5 508 6 5 748 2 5 772 5 5 777 3 5 893 6 5 788 9
2, 242. 8 2, 249. 6 2, 254. 7 2,224.8 2,212 9 2,277 4 2,309 1 2 291.4 2 417.9 2 460.0 2 443 3 2 508.2 2, 478. 8
3,038 9 3 176 2 3 144 7 3 052 1 3 149 3 3 216 1 3 252 2 3 217 2 3 330 3 3 312 5 3 334 0 3 385 4 3 310 1
78 972
84 050
80 281
80 285
81 919
56, 614
188
52, 937
60, 841
183
57, 154
58,626
1,514
54,911
56, 948
928
54, 134
59, 592
1,690
55, 515
84 315
84 050
61,603
1,531
57, 318
60, 841
183
57, 154
83 133
59, 931
1,565
55, 709
83 283
59, 595
1,148
55, 823
82 709
84 690
84 024
r
85 708 "87 321
84 102
84 794
62, 411 ' 62, 127
1,292
'538
58, 597 59,947
63, 262
853
59, 975
10, 819
59, 348
684
55, 785
60,729
545
56, 508
61,683
1,451
57, 307
60,728
420
57, 714
do
10,026
10, 036
10, 027
10, 036
10, 036
10, 036
10, 036
11,036
11, 045
11, 045
11,045
11,045
11,045
11,045
do
78 972
84 050
80 281
80 285
81 919
84 315
84 050
83 133
83 283
82 709
84 690
84 024
84 102
84 794 r 85 708 "87 321
Deposits, total
_ _
Member-bank reserve balances
do
do ..
23, 473
21 807
24 338
22, 085
24 271
22 789
23 317
21 656
25 150
23 613
24 948
23 385
24 338
22 085
25 608
23 637
25 348
23 344
24 726
22 495
25 895
23 082
25 187
23 041
23 970
21 991
25 253 r 24 536
23 072 r 22, 557
25 992
23 893
Federal Reserve notes in circulation
do _
45, 510
48, 244
45, 885
45, 818
46 128
47 191
48 244
46 831
46 689
46 992
47 254
47 879
48 391
48 746
49, 128
Liabilities, total 9 ...
r
Revised.
v Preliminary.
1 Data for indicated month exclude
loans by Federal
2
Intermediate Credit Banks outside the Farm Credit Adm. system.
Excludes figures for
the interstate trucking industry stoppage.
t Revised (back to 1960) to incorporate new
seasonal factors; see note "}", p. S-15, Oct. 1969 SURVEY for data through May 1968 (revisions
for June and July 1968, 197 and 204).
A See note 'T', P- S-14.
11,045
48, 952
§Beginning Jan. 1970, data include claims filed under extended duration provisions of
regular State laws.
^Insured 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.
SURVEY OF CURRENT BUSINESS
October 1970
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
1969
End of year
S-17
Aug.
Sept.
Oct.
1970
Nov.
Jan.
Feb.
Mar.
Apr.
May
June
28,031
27, 774
257
1,086
-829
28,858
28, 692
166
965
-799
27,976
27,703
273
1,092
-819
27,473
27,358
115
896
-781
28,096
27,978
118
822
-704
27, 910
27, 729
181
976
-795
27,567
27,380
187
888
-701
28, 128 ••28,349
27, 987 '28,204
'145
141
'827
1,358
-1,217 '-682
28, 786
28, 651
235
606
-371
81,666
78,320
84, 189
80,546
77,923
81,160
79, 857
79, 451
80,407
Dec.
July
Aug.
Sept.
FINANCE—Continued
BANKING- Continued
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total
. __mil. $.. i 27, 221 i 28, 031 27, 079 26,971
i 26, 766 i 27, 774 26, 776 26, 735
Required
do
1455
1257
Excess
.
do .
236
303
1765
U,086
Borrowings from Federal Reserve banks.. .do
1,249
1,067
1-310
i -829
Free reserves
do
-831
-946
27,340
27,197
143
1,135
-992
Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:t
Deposits:
Demand adjustedc?
mil $
88,879
2
80,556
27,764
27, 511
253
1,241
-988
79,646
79,342
90,288
Demand, total 9
do.
Individuals, partnerships, and corp
do
State and local governments
.do
U S Government
_
doDomestic commercial banks ..
_ do__
144,249
102,790
7,671
3,437
19, 060
150,897 129 567
105,605
91,904
2
7, 942
6,361
2 2, 989
1,228
2 20, 801 18,183
135,023 131,706
92,621 90,846
6,952
5,788
3,879
4,754
17, 613 17, 070
135,725
93,110
6,452
3,908
18,951
150,897
105,605
7,942
2,989
20,801
131,847
92,210
6,371
4,474
16,239
131,911 141,131 131,784 134,000 139,086 128, 669 130, 926 140, 018
90,334 97,063 91,703 91, 532 95, 254 91, 029 92, 168 94, 521
6,289
6,142
6,849
7,653
6,447
5,695
7,677
6,323
3,440
5,112
4,119
4,281
4,206
5,473
4r887
5,798
18,960
18,802
16,995 18, 952 16,407
17, 072 18, 195 20,962
Time, total 9
do
Individuals, partnerships, and corp.:
Savings., __
do
Other time
do
112,163
296,589
98,580
97,977
97,170
96,167
96, 589
95, 017
95, 620
98, 229
99,282
99,537 101, 580 106, 495 110, 400 113, 641
49, 149
45,076
246,490
236,502
46, 653
38,588
46,711
38, 026
46, 376
37,327
46,318
36,547
46,490
36,502
45,820
35,632
45,633
35,648
46,220
36, 523
45,893
36,761
46, 122
37, 024
do
do
do _
_ . do
do
_do
161,820
74, 149
9,563
11,872
32,106
40, 619
175,756
281,491
2 7,811
2 13, 148
2
33, 617
2 44, 177
166,456
76, 669
7,727
11, 138
33,535
44,415
168,814
78,440
6,588
11, 376
33,676
45,093
167,504
77, 649
6,261
10,818
33,951
44,602
168,748
78,310
6,521
11,000
34,097
44,439
175,756
81,491
7,811
13,148
33,617
44,177
167,718 167,600
78,020
78,215
5,964
6,246
11,253 11,066
33,488
33,680
45,771
44,909
170,963 168,511 167, 724 172, 560 171, 862 173, 106 175, 627
79, 010 78,907 78, 010 80,110 79, 348 79, 383 81, 173
6,094
5,973
6,286
6,497
5,919
7,195
6,091
11, 658 11,115 11, 034 12, 903 12, 981 12, 925 13, 231
33,458 33,385 33, 419 33,496 33, 597 33, 710 33,923
46,648 44,845 45,480 47, 393 45, 595 47, 392 46, 569
do
do
do
do
68, 324
29,358
24,038
38, 966
2
2
2
2
59, 536
23, 853
19, 789
35, 683
59,427
23, 336
21, 118
36,091
58,066
22,190
20,557
35, 876
58,617
23,349
20,103
35, 268
59,272
23,668
20,045
35,604
59,536
23,853
19,789
35,683
57,580
22,435
19,542
35,145
57,048
21,534
19,384
35,514
60, 566
23, 616
19, 387
36, 950
60,867
22,878
19,455
37,989
60, 572
22, 662
20, 175
37, 910
384.6
251.6
61.5
71.5
2 401. 3
2 278. 1
251.9
271.3
397.5
270.3
56.9
70.3
396.5
271.3
54.7
70.5
397.6
273.8
53.5
70.3
401.2
276.4
53.4
71.4
401.3
278.1
51.9
71.3
398.5
276.6
50.4
71.5
399.7
278.5
49.8
71.4
400.9
277.6
50.3
73.0
402.9
276.6
52.3
74.0
404.9
277.1
53.3
74.4
36.68
36.45
7. 01
38.21
38.02
38.53
8.82
8.65
9.14
8.83
8.66
9.21
8.86
8.65
9.23
8.49
8.24
8.86
8.50
8.24
8.89
3
8.83
8.58
8.79
8.81
8.86
8.67
8.87
8.84
8.44
8.44
8.61
8.42
8.47
8.49
8.53
8.54
Loans (adjusted) , totalcf
Commercial and industrial .
For purchasing or carrying securities
To nonbank financial institutions
Real estate loans
Other loans
_ __ _ __
_
In vestments, total
U.S. Government securities, total
Notes and bonds
Other securities. _
_
Commercial bank credit (last Wed. of mo., except
for June 30 and Dec. 31 call dates) , seas, adj.:
Total loans and investmentsO
bil. $
LoansO
.
do.
U.S. Government securities
do
Other securities.
.
do
Money and interest rates: §
Bank rates on short-term business loans:
In 35 centers
percent per annum..
New York City
do.._.
7 other northeast centers
do
8 north central centers
7 southeast centers
8 southwest centers..
4 west coast centers
3
do
do
do
do
Discount rate (N.Y.F.R. Bank), end of year or
month
percent..
Federal intermediate credit bank loans
do
Home mortgage rates (conventional 1st mortgages):
New home purchase (U.S. avg.)_
percent-Existing home purchase (U.S. avg.)
do
Open market rates, New York City:
Bankers' acceptances (prime, 90 days)
do
Commercial paper (prime, 4-6 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
90,288
46,425
38, 498
46,344
41, 852
60,346 '61,167
22,035 23,283
19, 945 19, 632
38, 311 37,884
405.1
276.2
54.1
74.8
410.7
279.9
55.5
75.3
46, 351
44, 673
46, 811
47, 581
63, 416
24, 754
21,000
38, 662
64,851
24, 793
20, 598
40, 058
416.3
282.4
57.2
76.6
421.6
285.7
57.3
78.6
3
3
3
6. 72
6. 50
6. 66
6. 64
38.24
37.93
38.19
38.18
8.85
8.46
8.85
8.75
3
5.50
6. 41
6.00
37.23
6.00
7.51
6.00
7.69
6.00
7.81
6.00
7.93
6.00
8.15
6.00
8.46
6.00
8.69
6.00
8.76
6.00
8.75
6.00
8.67
6.00
8.66
6.00
8.66
6.00
8.62
3
6. 83
36.90
37.66
37.68
7.86
7.90
7.89
7.92
7.98
7.98
7.97
8.00
8.07
8.08
8.16
8.13
8.23
8.23
8.29
8.26
8.24
8.19
8.28
8.18
'8.31
8.19
8.32
8.21
8.35
8.25
4
4
4
4
4
4
7. 61
7. 83
7. 16
7. 96
8.04
8.33
7.71
8.50
8.14
8.48
7.61
8.50
8.17
8.56
7.86
8.50
8.18
8.46
7.92
8.60
8.58
8.84
7.93
8.50
8.64
8.78
8.14
8.50
8.30
8.55
8.01
8.50
7.60
8.33
7.68
8.40
7.54
8.06
7.26
8.00
8.02
8.23
7.43
8.00
7.78
8.21
7.55
8.00
7.61
8.29
7.64
8.00
7.20
7.90
7.48
8.00
7.03
7.32
7.12
7.90
6. 677
6. 85
7.007
7.08
7.129
7.58
7.04C
7.47
7.193
7.57
7.720
7.98
7.914
8.14
7.164
7.80
6.710
7.20
6.480
7.49
7.035
7.97
6.742
7.86
6.468
7.58
6.412
7.56
6.244
7.24
5. 75
5. 90
* 5. 69
4
6. 33
4
79,445
5. 339
5. 59
4
4
4
6.00
CONSUMER CREDIT
(Short- and Intermediate-term)
Total outstanding, end of year or month
Installment credit, total
mil. $__ 113, 191
do
89, 890
do
34, 130
...do
24, 899
do_
3,925
do
26, 936
122, 469 117, 380 118, 008 118, 515 119, 378 122, 469 121, 074 120, 077 119, 698 120, 402 121, 346 122, 542 123, 092 123, 655
98, 169
94, 732
95, 356
95, 850
96, 478
98, 169
97, 402
96, 892
96, 662
97,104
97, 706
98, 699
99, 302
99, 860
36, 602
27,609
4,040
29,918
36, 245
25,467
4,063
28,957
36, 321
25,732
4,096
29, 207
36, 599
25, 855
4,084
29, 312
36, 650
26, 223
4,076
29, 529
36, 602
27, 609
4,040
29, 918
36, 291
27, 346
3,991
29,774
36, 119
26, 987
3,970
29, 816
36,088
26, 814
3,951
29, 809
36, 264
26, 850
3,960
30, 030
36, 455
27, 055
4,003
30,193
36,809
27, 303
4,040
30, 547
36, 918
27, 538
4,081
30, 765
36, 908
27,801
4,104
31,047
84, 982
40, 305
19, 798
82,910
39, 532
19, 265
83, 440
39,793
19, 360
83, 949
40,006
19, 569
84, 301
40, 047
19, 668
84, 982
40, 305
19,798
84, 531
40, 144
19, 703
84, 393
39, 990
19, 652
84, 308
39, 956
19, 586
84, 802
40, 245
19, 672
85, 335
40, 515
19, 760
86, 311
40, 979
19, 936
86,876
41, 703
19, 587
87,315
41,934
19, 601
11, 594
9,740
3,545
11, 220
9,436
3,457
11, 347
9,450
3,490
11,438
9,436
3,500
11,491
9,532
3,563
11, 594
9,740
3,545
11, 468
9,683
3,533
11, 459
9,691
3,601
11,533
9,650
3,583
11, 644
9,652
3,589
11, 778
9,631
3,651
12, 030
9,703
3,663
12, 141
9,739
3,706
12, 292
9, 735
3,753
Retail outlets, total
do
13, 187 11, 822 11,916 11, 901
12, 433
Automobile dealers
do
320
336
336
33fi
338
' Revised.
i Average for Dec. 2 Beginning June 1969, data are revised to include all bank-premises
subsidiaries, and other significant majority-owned domestic subsidiaries; also, loans and
investments are now reported gross.4 For complete details see the Aug. 1969 Federal Reserve
Bulletin.
a Average for year.
Daily average.
*Ja?I,.1SH10ns °J ian> I?69 are shown in the Mar. 1970 issue of Federal Reserve Bulletin.
d"For demand deposits, the term "adjusted" denotes demand deposits other than domestic
12, 177
337
13, 187
336
12,871
333
12,499
331
12,354
331
12, 302
332
12, 371
333
12, 388
336
12, 426
337
12, 545
337
Automobile paper
.
Other consumer goods paper
Repair and modernization loans
Personal loans
By type of holder:
Financial institutions, total
Commercial banks
Sales finance companies
Credit unions
Consumer finance companies
Other
_
404-263 O - 70 - S3
do.
77, 457
do.
36,952
do. 1 1 " 18, 219
do
10, 178
do
8,913
do
3,195
commercial bank and U.S. Government, less cash items in process of collection; for loans,
exclusive of loans to and Federal funds transactions with domestic commercial banks and
after deduction of valuation reserves (individual loan items are shown gross; i.e., before deduction of valuation reserves).
9Includes data not shown separately.
©Adjusted to exclude interbank loans: beginning June 1969, data are reported gross.
§For bond yields, see p. S-20.
SUKVEY OF CURRENT BUSINESS
S-18
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
Annual
October 1970
1969
Aug.
Sept.
Oct.
1970
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
FINANCE—Continued
CONSUMER CREDIT— Continued
Outstanding credit— Continued
Noninstallment credit, total
Single-payment loans, total
Commercial banks
Otherfinancialinstitutions
Charge accounts, total
Retail outlets
Credit cards
Service credit
_ _
Installment credit extended and repaid:
Unadjusted :
Extended total
Automobile paper
Other consumer goods paper
All other
.
Repaid, total
Automobile paper
Other consumer goods paper
All other
Seasonally adjusted:
Extended, total
Automobile paper
Other consumer goods paper
All other .
.
.
Repaid, total..
_
Automobile paper ...
Other consumer goods paper
All other
mil $_.
do. ._
do
do .
23, 301
9,138
7,975
1,163
24,300
9,096
7,900
1,196
22,648
9,073
7,879
1,194
22, 652
9,075
7,882
1,193
22, 665
9,025
7,837
1,188
22, 900
9,000
7,795
1,205
24,300
9,096
7,900
1,196
23,672
9,092
7,887
1,205
23, 185
9,074
7,857
1,217
23, 036
9,054
7,843
1,211
23,298
9,102
7,892
1,210
23, 640
9,159
7,925
1,234
23, 843
9,239
8,005
1,234
23, 790
9,254
8,005
1,249
23, 795
9,294
8,041
1,253
do
do
do _
do
7,755
6,450
1,305
6,408
8,234
6,650
1,584
6,970
6,988
5,438
1,550
6,587
7,005
5,448
1,557
6,572
7,085
5,568
1,517
6,555
7,238
5,685
1,553
6,662
8,234
6,650
1,584
6,970
7,539
5,932
1,607
7,041
6,789
5,210
1,579
7,322
6,645
5,062
1,583
7,337
6,900
5,289
1,611
7,296
7,273
5,633
1,640
7,208
7,473
5,765
1,708
7,131
7,509
5,727
1,782
7,027
7,508
5,664
1,844
6,993
do
do
do
do
97, 053
31, 424
30, 593
35, 036
102, 888
32, 354
33, 079
37, 455
8,604
2,593
2,764
3,247
8,485
2,566
2,794
3,125
8,797
2,939
2,805
3,053
8,173
2,433
2,817
2,923
10, 096
2,479
4,004
3,613
7,490
2,130
2,663
2,697
7,106
2,214
2,275
2,617
8,243
2,584
2,725
2,934
8,773
2,776
2,792
3,205
8,857
2,696
3,008
3,153
9,534
3,023
3,019
3,492
9,497
2,952
3,141
3,404
8,915
2,540
3,152
3,223
do
do
do
do
88,089
28,018
28, 089
31, 982
94, 609
29, 882
30, 369
34, 358
7,705
2,429
2,469
2,807
7,861
2,490
2,529
2,842
8,303
2,661
2,682
2,960
7,545
2,382
2,449
2,714
8,405
2,527
2,618
3,260
8,257
2,441
2,926
2,890
7,616
2,386
2,634
2,596
8,473
2,615
2,898
2,960
8,331
2,600
2,756
2,975
8,255
2,505
2,803
2,947
8,541
2,669
2,771
3,101
8,894
2,843
2,906
3,145
8,357
2,550
2,889
2,918
do
do __
do
do
8,680
2,634
2,819
3,227
8,669
2,794
2,740
3,135
8,661
2,808
2,707
3,146
8,632
2,683
2,841
3,108
8,344
2,472
2,838
3,034
8,521
2,479
2,925
3,117
8,625
2,536
3,018
3,071
8,392
2,496
2,922
2,974
8,491
2,571
2,843
3,077
9,004
2,595
3,183
3, 226
8,683
2,587
2,925
3,171
9,065
2,685
3,124
3,256
8,809
2,537
3,168
3,104
do
do. __
do
do
8,080
2,562
2,574
2,944
7,971
2,498
2,600
2,873
7,992
2,463
2,615
2,914
8,012
2,503
2,623
2,886
7,929
2,499
2,552
2,878
8,141
2,469
2,722
2,950
8,207
2,550
2,761
2,896
8,194
2,501
2,792
2,901
8,195
2,527
2,729
2,939
8,589
2,600
2,888
3,101
8,242
2,573
2,750
2,919
8,622
2,752
2,874
2,996
8,577
2,632
2,967
2,978
16,709
15, 237
1,472
16, 297
16, 558
-261
14, 938
14, 999
-61
140
164
104
1,612
1-25,161 i 3, 236 -2, 107
2,790 -6,112 -1,130
6,112
1 25,161 1-3,236 2,107 -2, 790
1,130 -1,612
-375
4,388
2,695 -2,012
i 23, 100 1-11,146
679
1,724 -1,565
400
i 2, 061 i 7, 910
1,428 -2,415
-97
97
-194
291
FEDERAL GOVERNMENT FINANCE
Budget receipts, expenditures, and net lending: \
Expenditure account:
Receipts (net)
mil. $
i 153,671 1 187,792 15,009 20, 412 11,811 14, 336
Expenditure (excl. net lending)
do
U72.802 i 183,080 16, 800 17, 174 17, 580 15, 229
Expend, acct. surplus or deficit (— )
do
i 4, 712 -1, 791
1-19,131
3,239 -5, 769 -894
Loan account:
Net lending ...
do
-342
-448
-236
i -6,030 1-1,476 -316
Budget surplus or deficit (— )
Budget financing, totalt •
Borrowing from the public
Reduction in cash balances.
do
do
do
do
13, 119 22,029 13, 982
16, 294 17,844 16,333
-3, 175 4,186 -2, 351
-254
-200
-108
22, 649 12,617 15, 172
15, 367 19, 352 17, 429
7,282 -6, 735 -2, 257
-136
17
-66
3,986 -2, 459
7,146 -6, 718 -2,323
43 -3,429
3,429 -3,986
2,459 -7, 146
6,718
-43
2,323
2,314 -4, 691
1,452 -3, 157
5,997
2,716
-139
705
1,007 -3, 989
1,115
721
-393
96
1
Gross amount of debt outstandingt
do
369, 769 i 367, 144 374, 098 373, 953 377, 615 381, 192 381, 220 380, 502 380, 988 384, 169 379, 316 382, 932 382, 603 388, 214 392, 545
Held by the public
do
i 290, 629 i 279,483 284, 599 284, 224 288, 612 291, 306 289, 294 289, 100 288, 961 291, 275 286, 584 288, 036 284, 880 290, 877 293, 593
Budget receipts by source and outlays by agency :t
Receipts (net) total
mil $
U53,671 1 187,792 15,009 20, 412 11,811 14, 336 16, 709 16, 297 14, 938 13, 119 22, 029 13, 982 22,649 12,617 15, 172
9,313
3,419 10, 701
5,258
6,281
Individual income taxes (net)
do
9,776
6,636
7,236
6,774 10,660
6,965
7,219
i 68. 726 i 87,249
7,230
4,578
7,329
714
1,127
4,239
484
843
634
838
Corporation income taxes (net)
do
5,551
5,527
645
i 28, 665 i 36, 678
571
Social insurance taxes and contributions
4,419
3,767
2,674
5,851
3,436
3,184
5,330
(net)
mil. $
3,022
2,364
4,078
5,408
i 34,622 i 39,918
2,190
5,209
2,332
2,240
2,159
2,314
Other
do
1,837
2,138
1 21,659 i 23,948
2,063
1,967
2,025
2,387
2,219
1,919
1,999
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
17, 923
1,276
6,982
15, 466
640
6,051
15, 097
598
6,584
16, 394
731
6,419
14, 894
-77
5,953
16, 548
296
6,377
18, 043
320
6,531
16, 441
320
6,185
15,503
403
6,582
19, 335
2,649
6,570
17, 495
2,280
6,059
4,071
1,594
294
691
4,311
1,296
327
691
3,857
1,685
267
708
4,137
1,552
296
718
4,261
1,650
291
726
4,120
1,710
299
717
4,387
1,811
325
798
5,485
1,731
332
748
4,809
1,683
285
803
4,962
1,748
378
728
4,630
1,678
268
730
4,722
1,851
282
764
1 184,556 17, 116
i 8, 330
1,338
i 77,877
6,612
U0,576
i 14, 655
i 4, 721
i 6, 858
i 46,599
i 16,924
i 4, 247
i 7, 669
175.4
79.3
37.4
18.0
40.7
200.6
95.9
39.2
19.1
46.5
200.8
95.6
38.6
19.5
47 0
202.0
96.9
38.1
19 3
47 7
195.9
93.4
34.8
19.3
48.4
196.7
93.5
34.9
19.4
48.9
20.0
49.7
181.6
99.5
78.0
47.8
18.4
11.8
191.3
101.3
78.8
52.1
20.2
13.1
192.5
102.5
79.8
52 2
20 0
13.2
195 9
102 1
78.8
53.3
21 8
13 9
197 7
102.3
79.3
55.3
23.0
14 3
210.9
99.7
76.8
64.4
25.1
14.3
207.7
99.0
75.2
62.9
25.1
14.8
4.1
4.6
4 6
4 9
53
5.3
5.7
2.5
-2.1
-14.2
-.4
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 $
Less: Wage accruals less disbursements
Surplus or deficit (— )
17, 622
1,857
6,479
1 178,833
i 7, 307
i 77, 373
do
do
-6.2
4,000
1,577
337
667
9.3
8.3
-1.7
6.1
89.4
LIFE INSURANCE
Institute of Life Insurance:
Assets, total all U S life insurance cos i bil $
Government securities*
do
Corporate securities*
do
Mortgage loans, total
do
Nonfarm .
do
Real estate
Policy loans and premium notes
Cash
Other assets
r
Revised.
1
do
do
do
do
2
188. 64
10. 51
82 13
69. 97
2
64.17
2
2
2
2
2
5.57
11.31
2
i 68
2
7.47
194.03
10.78
82.56
71.25
65.39
194. 80
10.74
82.91
71.43
65.56
195. 93
10.73
83.36
71.57
65.77
196. 66
10.74
83.75
71.71
65.92
5.80
12.92
1.20
9.52
5.81
13.17
1.22
9.53
5.85
13.41
1.27
9.74
5.90
13.58
1.29
9.69
* Preliminary.
Data shown in 1968 and 1969 annual columns are for fiscal years ending June 30 of the
respective years; they include revisions not distributed to months. 2 Annual data for
197. 23 22197. 68
10. 96
10.77
83.58 22 84. 76
72.13 2 72. 34
66. 62
66.35
5.90
13.80
1.62
9.43
2
2
5. 92
14. 06
1.24
2
8. 38
2
198. 51
10.98
85.02
72.53
66.84
199. 40
10.94
85.34
72.62
66.94
199. 09
10.83
85.10
72.79
67.12
199. 17
10.90
84.63
72.98
67.32
199. 68
10.79
84.66
73.16
67.50
5.98
14.30
1.20
8.50
5.99
14.54
1.40
8.58
6.03
14.76
1.26
8.31
6.06
14.95
1.22
8.43
6.10
15.18
1.41
8.38
1968 and monthly data beginning 1970 are annual statement values.
I Revisions for July 1967-Apr. 1969 for budget receipts and expenditures and for Jan.-Mar.
1969 for assets of all U.S. life insurance cos. will be shown later.
9 Includes data for items not shown sepaiately.
*New series.
SURVEY OF CURRENT BUSINESS
October 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1 1969
Annual
S-19
1969
Aug.
Sept.
Oct.
1970
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
FINANCE—Continued
LIFE INSURANCE— Continued
Institute of Life Insurance— Continued
Payments to policyholders and beneficiaries in
U S total
mil $ 14, 385. 0 15, 524. 5 1,251.2 1, 279. 1 1, 280. 5 1, 117. 8 1, 686. 5 1, 285. 2 1, 307. 8 1,448 0 1, 387. 6 1, 292. 4 1,405.6
6, 209. 3 6, 758. 1
560.4
613.4
Death benefits
do
553.5
556.1
608.6
633.7
557.3
564.9
588.9
483.8 629.4
952.6
967.2
Matured endowments
.
do
67.2
81.0
84.3
76.8
77.9
85.3
82.2
93.5
85.7
82.7
71.7
204.7
195.6
17.2
21.1
Disability payments __
do.
18.1
18.7
16.6
19.6
21 3
16.3
17.1
19.9
14.2
1, 401. 0 1, 558. 6
132.1
141.2
Annuity payments
do
131.2
141.4
112.2
165.1
153.1
140.0
151.3
133.8
129.8
2, 456. 4 2, 721. 6
256.2
Surrender values
_
do
226.6
226.3 230.2
260.9
254.0 245.2
195.2
230.9
238.3 225.7
3, 155. 5 3, 328. 9
289.4
Policy dividends
do
254.6
265.7
248. 7
287.3 266.3 249.4
252.6 223.1 612.1 233.4
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance) :J
Value, estimated total.
_ _ mil. $
Ordinary (incl. mass-marketed ord.)
do
Group.
do
Industrial.
__ .
_
do
Premiums collected:
Total life insurance premiums
do
Ordinary (incl. mass-marketed ord.) —.do
Group
do
Industrial
. do._
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, U.S. (end of period).. .mil. $_.
Net release from earmark§
do
Exports
thous $
Imports
do
Production, world total..
__
mil. $_.
South Africa
._
_ _ _ do
Canada
do .
United States
do....
Silver:
Exports
_
_
thous $
Imports
. .
do
Price at New York
dol. per fine oz
Production:
Canada
thous. fine oz..
Mexico
_
do
United States
.
do
Currency in circulation (end of period)
bil. $_.
Money supply and related data (avg. of daily fig.):®
Unadjusted for seasonal variation:
Total money supply
bil $
Currency outside banks.
.
do
Demand deposits
_
___
do
Time deposits adjustedl
_
...do...
U.S. Government demand deposits f
do
Adjusted for seasonal variation:
Total money supply
do
Currency outside banks
do...
Demand deposits.
._ _
do
Time deposits adjusted^
do
Turnover of demand deposits except interbank and
U.S. Govt., annual rates, seas, adjusted:
Total (233 SMSA's) O_.ratio of debits to deposits..
New York SMSA
.do
Total 232 SMSA's (except N.Y.)
do
1
6 other leading SMSA'sd ..
do
226 other SMSA's
do
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade and SEC):
Net profit after taxes, all industries
mil. $
Food and kindred products
...do.."
Textile mill oroducts
rlo
Lumber and wood products (except furniture")
Paper and allied products
_
do
Chemicals and allied products.
do
Petroleum refining
_ _
do
Stone, clay, and glass products
do
Primary nonferrous metal...
do
Primary iron and steel.
do
Fabricated metal products (except ordnance,
machinery, and transport, equip.) . mil. $
Machinery (except electrical). ..
do
Elec. machinery , equip. , and supplies
do
Transportation equipment (except motor
vehicles, etc.)
mil $
Motor vehicles and equipment
do
All other manufacturing industries
__do
Dividends paid (cash) , all industries. . . do
Electric utilities, profits after taxes (Federal Reserve)
m il.$
150,495
103,944
39,877
6,674
157,525
111,863
39, 237
6,425
13,005
8,707
3,788
510
12,438
8,807
3,094
537
14,136
10, 462
3,108
566
12,957
9,331
3,097
529
18,488
11,025
6,980
483
11,525
8,386
2,703
436
12, 621
9,082
3,017
522
14, 099
10, 310
3,198
591
15, 309
10, 292
4,462
555
13, 542
9,898
3,040
604
15, 020
10,549
3,930
541
18, 052
13,510
3,201
1,341
18, 933
13, 142
3,492
1,299
1,520
1,125
300
95
1,564
1,155
311
98
1,626
1,242
286
98
1,440
1,085
264
91
2,009
1,370
393
246
1,524
1,182
238
104
1,578
1,191
297
90
1,690
1,258
336
97
1,642
1,248
301
93
1,581
1,214
273
94
1,659
1,237
330
92
1,707
1,264
350
94
1,607
1,202
307
97
10, 367
187
839, 160
226, 262
»*1,420.0
1, 088. 0
94.1
53.9
10, 367
755
12, 287
236, 905
10, 367
17
9,531
19, 519
10, 367
29
364
27, 052
10,367
25
150
19, 817
10,367
-19
244
22,600
10, 367
687
200
21, 863
11, 367
20
159
12, 487
11,367
23
278
9,772
11,367
-2
293
17, 659
11,367
-2
272
13, 865
11,367
33
24, 068
12, 398
11, 367
-1
159
11, 602
11,367
23
239
29,516
11,367
449
11, 531
1, 090. 7
85.2
93.9
6.6
95.1
7.0
95.2
6.5
93.6
6.8
89.5
7.1
102.5
7.5
88.4
6.5
94.3
7.1
92.8
3156, 720 18, 470
7,282
380,061
1.653
1.791
12,684
10, 289
1.785
17,831
8,834
1.872
4,425
5,798
1.923
4,256
7,744
1.807
8,578
5,936
1.876
10, 381
5,629
1.896
5,782
7,587
1.888
3,414
8,004
1.853
4,423
4,298
1.670
1,815
4,592
1.639
1,268
3,741
1.687
2,870
6,676
1.798
3,697
4,760
6,017
3,592
3,299
2,912
3,704
3,631
3,993
2,877
3,260
3,495
3,541
3,797
3,507
3,616
3,503 ' 3, 497
2,983
4,312
252, 147
145, 153
2.145
45, 390
41, 926
4
40, 031
37, 168 ~~52,~552~
14, 285 530, 821
9,920
9,473
3,814 520, 826
522
551
11,117
1.802
4,465
3,404
53.7
54.4
54.5
54.7
204.2
46.6
157.6
198.3
5.3
199.9
47.3
152.6
200.0
6.4
201.7
47.7
154.0
201.2
6.5
202.7
48.2
154.5
206.9
6.8
' 202. 8
48.3
' 154. 5
' 212. 8
'7.1
204.5
48.3
156.2
217.2
6.9
201.5
46.7
154.8
194.3
203.3
47.0
156.2
197.9
203.9
47.6
156.2
199.6
203.6
47.8
155.9
201.0
204.3 ' 206. 0
48.2
48.1
156.2 ' 157. 8
206.9 '211.8
205.9
48.3
157.6
216.9
70.7
145.7
50.3
72.2
'41.4
72.9
149.7
'52.3
75.8
'42.7
73.5
150.6
53.4
78.4
43.2
73.3
149.3
52.9
77.5
42.9
73.3
145.3
'53.7
79.4
43.4
3,936
4,516
4,097
4,221
5,008
51.0
54.0
51.5
51.3
51.7
53.0
54.0
51.9
52.0
52.7
53.0
188.6
42.0
146.6
192.4
5.7
198.3
44.8
153.5
198.4
5.6
195.9
45.4
150.5
195.5
4.3
197.6
45.2
152.4
194.3
5.3
199.3
45.6
153.7
193.7
4.2
201.0
46.4
154.7
192.6
5.1
206.0
46.9
159.1
192.4
5.5
207.1
46.1
161.1
191.7
4.7
197.8
45.9
151.9
192.0
7.1
199.7
46.3
153.4
194.9
6.9
199.0
45.3
153.8
194.5
199.0
45.2
153.7
194.1
199.1
45.6
153.6
193.5
199.3
45.9
153.4
193.4
199.6
45.9
153.7
194.1
201.1
46.1
155.0
192.1
199.3
46.4
153.0
192.0
70.1
146.5
49.7
72.9
40.3
72.3
153.5
50.9
73.0
41.9
70.8
148.8
50.6
72.9
41.5
70.5
151.6
49.4
71.7
40.3
69.4
145.7
49.2
69.6
40.8
69.4
139.9
50.6
71.6
41.9
72.4
148.8
52.0
74.2
42.9
4, 435
32, 069
2, 209
654
33, 248
2,382
621
7,994
660
153
8,381
636
157
6,894
573
109
7 966
611
96
635
889
3,525
5,794
769
1,149
1,186
640
987
3,591
5,884
822
1,414
1,221
109
243
884
1,442
273
335
244
101
254
860
1 494
179
387
336
65
212
873
1,388
34
381
213
91
210
913
1 435
211
402
215
1,320
2,947
2,518
1,326
3,138
2,594
324
760
663
323
751
653
265
648
477
324
763
640
1,025
3,222
4,229
14, 189
945
2,845
4,835
15, 058
228
404
1,272
3,452
171
765
1,314
4,203
165
526
966
3,767
175
739
1 140
3,873
3,002
3,186
827
779
75.8
162.8
52.6
77.9
42.4
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds, total
mil. $
52, 546 3,315
5,420
65, 562
3,958
By type of security:
Bonds and notes, total
do
44,150 2,832
4,770
60,979
3,232
Corporate
do
944
1,701
1,282
17,383 18, 348
Common stock
do
7,714
3,946
410
630
652
Preferred stock
do
682
637
72
74
20
r
Revised. * Preliminary.
i Estimated; exclud es U.S.S R., othei* Easteni European
countries, China Mainland, and North Korea. 2 Includes silver coiii data fo r Jan.-Jime
3
1968 not included in figures shown in the 1969 BU SINESS STATIS TICS,
Mont hly
data beginning July and annual total figures exclude? silver co in.
4 Iiicludes r evisions not
distributed to months.
Includes $17.2 bil. SG LI.
n
Revisions for Jan . 1968-Feb.
1969 will be shown later.
4,069
4,440
6,144
6,003
6,799
5, 891
9,548
6,985
3,085 3,769 5,628
5,535
5,645
5,190
5,964
9,080
1,390
1,860
2,120
1,334
2,385
2,469 3,441 2, 368
902
640
456
1,064
'634
417
799
399
83
32
60
90
50
222
67
69
& 0 r increase in earma rked gokK->.
(0 Series revised t o reflect the change in accounting
procec ures ass ociated \vith Eur o-dollar transacti ons and to reflec t new benchmarks and
chang BS in seas onal fact ors.
* At all co mmercia 1 banks.
OTol al SMSA's include some
cities {ind coun ties not iesignate d as SMS3A's.
^Include£ Boston , Philadelphia, Chicago,
Detro t, San F rancisco-Oakland and Los> Angeles-Long B<>,ach.
SUEVEY OF CURRENT BUSINESS
20
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
October 1970
1969
Annual
Aug.
Sept.
1970
Oct. I Nov.
Dec
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept
FINANCE—Continued
SECURITIES ISSUED— Continued
Securities and Exchange Commission—Continued
Estimated gross proceeds— Continued
By type of issuer:
Corporate, total 9
mil. $
Manufacturing
do
Extractive (mining)
_ . do
Public utility .
do
21,966
6,979
594
5 281
26, 744
6,356
1,721
6,736
1,427
362
108
507
2 427
625
106
545
1,933
260
49
745
2,375
453
188
622
2,532
601
99
600
2 636
811
94
639
1 802
357
85
540
3,539
1 416
149
906
3 170
689
211
1 109
3,909
817
327
600
3,389
939
358
1 103
246
1 766
2,820
294
2,188
4,409
17
126
181
31
272
442
31
120
444
23
201
533
15
277
524
44
234
275
50
226
323
77
306
339
41
62
597
9
1 747
231
51
354
355
do
__do
..do. ..
43 596
18 025
16, 374
25, 802
4,765
11,460
1,888
377
794
1 531
353
531
3 487
440
1,254
1 695
300
853
1 908
380
812
3 508
413
1 314
4 201
416
1 198
3 260
461
1 504
2 721
387
1,625
5 639
3 701
974
3 596
819
1,058
do.
do
16,374
8 659
11, 460
11, 928
794
1,140
531
1 168
1 254
795
853
1 439
812
1 230
1 314
878
1 198
1 444
1,504
1 211
1,625
1,046
974
1 387
1 058
2 035
1923
7 445
i 2, 803
930
7 019
2,577
950
7 039
2 579
979
7 243
2 753
921
7 111
2 613
923
7 445
2 803
933
6 683
2 626
890
6 562
2 463
874
6 353
2 441
806
5 985
2 248
784
5 433
2,222
748
5 281
2 009 2 2 258
76.4
93.4
68.6
79.0
68.4
76.2
67 2
73.6
66.5
74.9
65.6
73.4
62 9
68.7
62 2
69 7
62 4
71.7
62.8
75.6
62 8
71.9
61.2
67.8
59 4
67. 5
72.33
64.49
65.18
62 64
63.05
61 08
58 71
58 33
61 63
62.04
60 89
57.78
5 669 52 4 501 18
5 458 55 5 123 47
315 76
375 63
271 52
338 22
397 35
466 10
318 32
376 13
382 04
526 97
363 31
485 34
283 27
365 56
313 51
405 30
310 25
384 02
4 401 94 3 550 33
4 447 68 4 123 33
255 55
304 60
210 08
269 61
319 84
372 88
261 94
308 69
324 20
442 89
314 79
411 57
245 86
304 65
267. 94
344 36
New York Stock Exchange, exclusive of some
stopped sales, face value, total
mil $ 3 814 24 3 646 16 245 99
239 42
341 33
263 80
432 91
304 63
281 84
Railroad
Communication
Financial and real estate
do
do
..do
Noncorporate, total 9 U.S. Government
State and municipal
State and municipal issues (Bond Buyer):
Long-term ._ __ ._
Short-term
1,310
1 186
1 226
1,630
2,036
59.0
70.6
60.0
73.8
60.8
72.7
57 37
60.59
59.20
60.10
300 39
465.04
645 56
824 44
370 56
536. 56
311 80
442 43
275 85
337 06
264.77
374 22
608 25
743 34
344.53
489 26
289 98
401 69
297 74
329 77
448. 20
360 69
394 13
349 78
' 1,318
r
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
1
1
1, 002
9 790
3 717
1
Bonds
Prices:
Standard & Poor's Corporation:
High grade corporate:
Composited"1
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
Face value
Yields:
Domestic corporate (Moody 's)_
By rating:
Aaa
.
Aa
A
Baa
do
do
. . . percent
396. 30
6.51
7.36
7.37
7 53
7.72
7 76
8 13
8 32
8 29
8.18
8 20
8.46
8.77
8.85
8.73
8.68
.do. .
do
do
do
6.18
6 38
6.54
6 94
7.03
7 20
7 40
7 81
6.97
7 23
7 41
7 ge
7
7
7
8
7
7
7
8
7
7
7
8
7
7
8
8
7
8
8
8
7
8
8
8
93
13
31
78
7.84
8 06
8.17
8 63
7
8
8
8
83
03
22
70
8.11
8.24
8.49
8.98
8.48
8 58
8.76
9 25
8.44
8.64
8.92
9.40
8.13
8 49
8.85
9 44
8.09
8.47
8.78
9.39
do
do
do
6 41
6 49
6 77
7 25
7 49
7 46
7 29
7 40
7 57
7 42
7 62
7 68
7 59
7 91
7 76
7 QI
7 94
7 83
7 95
8 39
8 15
8 15
8 54
8 38
8 11
8 47
8 39
7 98
8.34
8.33
8 00
8 37
8 34
8.19
8.72
8.59
8 55
9.06
8.76
8.61
9.01
9.11
8.44
8.83
9.19
8.40
8.80
9.10
Domestic municipal:
Bond Buyer (20 bonds)
__ _ _ d o
Standard & Poor's Corp. (15 bonds)
do
4.47
4.51
5.79
5 81
6.26
6 07
6.19
6.35
6.13
6 21
6.58
6 37
6.79
6 91
6 78
6 80
6.16
6 57
6.11
6. 14
6.79
6 55
7.12
7.02
6.79
7.06
6.40
6.69
6.16
6.33
6.39
6.45
U.S. Treasury bonds, taxable O
5.25
6.10
6 02
6.32
6.27
6 51
6.81
6 86
6.44
6.39
6.53
6.94
6.99
6.57
6.75
6.63
8.53
9.24
4.50
4.55
5,82
8.62
8.98
9.83
4 61
4.60
6 40
9.44
9.03
9.90
4 62
4 67
6 41
9.86
9.04
9.90
4 62
4.67
6 61
9.86
9.05
9.90
4 62
4.67
6 61
10.12
9.06
9.92
4 63
4.67
6 61
10.20
8.99
9.92
4 63
4 10
6 70
10.20
9.13
9 98
4 64
4 02
6 70
10.23
9.13
9.97
4 64
4 02
6 70
10.23
9.13
9.98
4.70
4.02
6.70
10.45
9.10
9.93
4 70
4.02
6 70
10.45
8.96
9.71
4.70
4.02
6.70
10.48
8.95
9.69
4.71
4.02
6.70
10.48
8.95
9.70
4.71
3.95
6.70
10.48
8.94
9.70
4.71
3.79
6.70
10.48
8.93
9.70
4.71
3.79
6.82
10.48
77
15
55
90
259. 67
310 95
91.13
87 16
252. 76
302. 90
86.29
87.15
263.28
314 69
92 25
87 36
252. 78
301 65
85.98
80 73
248.68
299 54
84 62
76 96
231. 68
276 68
80 31
73 87
244. 45
290 09
85 35
78 55
243. 53
287. 85
87.44
74 99
222. 65
263. 96
80.06
68 32
209. 44
248. 12
74.91
62.07
198. 30
236. 81
68. 96
52. 39
212. 90
252. 79
74.55
56.18
221. 25
264. 25
77.17
57.02
226. 91
272. 90
75.66
65.13
3.42
3.14
4.88
4 90
3 72
3.37
3.48
3 18
5.07
5 36
3 80
3.87
3.58
3.27
5.35
5.36
4.03
3.61
3.44
3. 15
5.01
5 35
3 61
3. 19
3.58
3.29
5.38
5 78
3.95
3.28
3.62
3.31
5.47
5 33
3.92
3.65
3.94
3.61
5.78
5 44
4.20
3.84
3.73
3.44
5.44
5 12
3.61
3.58
3.75
3.47
5.38
5.36
3.72
3.66
4.09
3.76
5.87
5.88
4.14
4.29
4.28
3.91
6.27
6.48
4.29
4.67
4.51
4.09
6.83
7.67
4.30
4.61
4.20
3.84
6.32
7. os
4.01
4.10
4.04
3.67
6.10
6.65
3.83
4.15
3.94
3.55
6.23
5.82
3.99
4.01
By group:
Industrials
Public utilities ..
Railroads
--do
14
36
56
05
33
53
79
22
35
58
84
25
72
93
21
65
91
15
35
86
c
Stocks
Dividend rates, prices, yields, and earnings, common stocks (Moody 's):
Dividends per share, annual rate, composite
dollars
Industrials
do
Public utilities
do
Railroads
do
N.Y. banks
_
do
Property and casualty insurance cos . . do
Price per share, end of mo., composite
Industrials
_ _
Public utilities.. .
Railroads
.
Yields, composite
Industrials
Public utilities
Railroads. _ _
_
N.Y. banks
Property and casualty insurance cos
do
do
do
do
percent..
do
do
do
do
do
264. 62
315 86
98.37
101 00
3.22
2.93
4.57
4 50
3.40
3.10
262.
313
94
93
Earnings per share (indust., qtrly. at ann. rate;
pub. util. and RR., for 12 mo. ending each qtr.) :
Industrials
..
dollars
16.18
17 69
17 62
Public utilities
do
6 89
6 92
6 67
Railroads
do
7.84
7.25
7.28
r
Revised.
1 End of year.
2 Because of changes in series, data beginning July 1970
are not directly comparable with those for earlier periods.
9 Includes data not shown separately.
cfNumber of bonds represented fluctuates; the change in the number does not affect the
continuity of the series.
18.54
6 92
7.28
r
15. 19
6 90
6.78
r
17. 19
b. 9U
5.21
^Prices are derived from average yields on basis of an assumed 3 percent 20-year bond.
OFor bonds due or callable in 10 years or more.
c
Corrected.
SURVEY OF CURRENT BUSINESS
October 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
196S
1969
Annual
S-21
1970
1969
Aug.
Sept.
Oct.
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)
Transportation (20 stocks)
Banks:
New York City (9 stocks)
Outside New York City (16 stocks)
6.41
6.45
6.61
6.79
6.84
7.19
7.02
7.04
6.97
6.98
7.26
7.57
7.62
7.41
7.31
322. 19
906.00
301.35
876. 72
123. 07
221. 02
279. 78
825. 46
115. 76
199.24
279. 05
826. 71
113. 35
199.06
280.44
832.51
115.12
198. 39
281. 02
841. 09
116. 04
195. 47
259.88
789. 22
108. 36
175. 32
258.36
782.96
109.42
173.64
251. 63
756.21
108.87
169. 83
260. 36
777. 62
116. 45
174. 32
255.71
771. 65
114. 44
167. 46
227.99
691. 96
103.19
146.29
224. 18
699.30
99.15
137.53
223.29
712.80
102.83
125.75
229.99
731.97
105. 36
130. 91
240. 57
759.38
108. 79
141. 25
96.21
91.11
90.31
87.16
88.65
85.95
76.06
75.59
75.72
77.92
82.58
95.73
96.55
83.74
55.24
36.58
96.95
95.97
85.09
59.04
37.33
94.01
93.18
82.28
57.19
36.05
83.16
80.47
71.65
51.15
31.10
82.96
80.77
73.10
49.22
28.94
83.00
77.99
73.10
50.91
26.59
85. 40
78.38
74.76
52.62
26.74
90.66
84.96
79.65
54.44
29.14
130. 02
250.09
Standard & Poor's Corporation:^
Industrial, public utility, and railroad:
Combined index (500 stocks)
1941-43=10..
Industrial, total (425 stocks) 9
Capital goods (116 stocks)
Consumers' goods (184 stocks)
Public utility (55 stocks)
Railroad (20 stocks)
5.78
98.69
97.84
94.18
94.51
95.52
-do.,.. 107.49
do
105. 77
do .
86.33
do...
66.42
do
48.84
107. 13
103.75
87.06
62.64
45.95
103.39
100.90
83.44
59.20
42.04
103. 97
102. 27
85.26
57.84
42.03
105. 07
103.67
87.29
58.80
41.75
105.86
104.68
89.84
59.46
40.63
100.48
100.31
85.62
55.28
36.69
99.40
99.70
85.42
55.72
37.62
do
do_
44.69
81.72
45.39
87.73
41.87
80.41
44.40
83.47
44.47
85.73
46.00
88.09
43.55
82.57
44.11
79.34
45.64
77.11
47.49
81.37
45.21
79.47
39.65
70.75
41.03
71.16
42.12
72.07
44.21
76.07
45.22
79.49
Property-liability insurance (16 stocks)., do
73.64
85.43
72.83
76.91
88.52
94.19
85.85
83.88
81.25
84.94
82.45
67.40
69.94
71.10
72.48
77.07
55.37
58.00
50.58
44 19
65.85
54.67
57.44
46.96
42.80
70.49
52.09
54.85
41.45
41.34
65.29
52.37
55.29
42.72
40.20
68.16
53.27
56.22
43.12
40 55
71.71
53.85
56.84
42.59
41 36
71 62
50.86
53 93
37.77
38 69
66 95
50.60
53.58
37.51
38 76
66.19
48.76
51.29
36.06
38.55
65.01
49.46
51 53
36. 85
40 77
67 37
47.51
49 47
34.99
39 49
64 07
41.65
43.33
29.85
35.48
54.58
41.28
43.40
28.51
33.74
54.21
41.15
43.04
26.46
34.90
54.00
42.28
44.20
27.66
35.74
56.05
45.10
47.43
30.43
36.74
60.13
196 358
5 312
175 298
4,963
12 392
367
12 429
355
17 152
488
13 352
376
13 951
430
12 940
396
11 850
'346
11 146
340
10 024 ••8 554
378
401
8,026
299
144 978
3 299
129,603
3 174
9,405
246
9,357
233
12,831
320
10 000
249
10 609
288
9 412
255
9 104
238
8 815
243
8 718
240
8?566
272
8,000
282
6,985
250
6,443
216
2 932
2 851
202
219
310
214
272
221
218
213
223
258
226
228
219
692 34
13 196
629 45
15, 082
641.58 627. 50
14, 761 14, 833
661 44
14, 918
640 16
14 986
629 45
15 082
582 67
15 136
616 34
15 227
615 37
15 306
553 80
15 348
516. 39
15, 552
491. 21
15, 677
531.08
15,823
555. 49
15, 869
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):
Market value
mil $
Shares sold
millions
On New York Stock Exchange:
Market value ..
mil $
Shares sold (cleared or settled)
millions
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
r
11 130 !0 704
••387
341
FOREIGN TRADE OF THE UNITED STATES
FOREIGN TRADE
Value of Exports
Exports (mdse.), incl. reexports, total
mil. $.. 34,635.9 38,005.6 3, 213. 2 3, 183. 7 3, 618. 2 3, 469. 2 3, 421. 0 3, 298. 4 3,432.1 3, 623. 4 3, 648. 5 3,942.3 3, 770. 7 3,591.9 3, 307. 0
do..
do
34,062.8 37, 331. 7 3, 151. 3 3, 110. 4 3, 562. 7 3, 413. 2 3, 362. 4 3, 238. 0 3,388.2 3,581.1 3, 599. 1 3,908.7 3, 719. 0 3, 549. 3 3, 266. 1
3, 370. 0 3, 323. 4 3, 362. 0 3, 365. 1 3, 238. 4 3, 305. 2 3, 628. 4 3, 379. 0 3, 449. 7 3, 695. 1 3, 776. 0 3,683.0 3, 601. 8
do
do
do
do
132. 1 126.1
1, 269. 4 1, 391. 6
117.9
130.4
109.4
151.0
148.9
123.1 122.9
130.3
103.4
141.6
139.1
878.0 778.9
738.0
808.6 750.1 821.4 890.7
7, 581. 9 8, 265. 2
717.3 769.5
795.5
768.8 776.7
813.9
91.8
121.1
103.8
1, 026. 0
81.7
90.9
93.0
998.0
96.0
96.6
77.1
110.7
77.2
77.2
91.2
11,347.3 12, 619. 2 1, 110. 7 1, 015. 3 1,210.3 1, 184. 5 1, 159. 3 1, 167. 5 1, 196. 4 1, 271. 9 1, 272. 0 1, 482. 2 1, 213. 7 1, 175. 8 1,083.3
do
do
do
8, 073. 8
2, 598. 8
2,738.6
9, 138. 0
2, 761. 9
2,814.4
661.3
227.3
263.0
801.6
223.6
241.8
879.2
273.9
258.8
806.3
244.1
248.5
756.6
264.6
245.2
649.4
243.8
230.1
740.9
247.1
239.2
783.5
269.9
280.8
840.9
292.3
277.0
866.1
270.1
258.6
861.7
286.3
265.6
729.2
273.8
281.9
680.4
266.6
279.9
By leading countries:
Africa:
United Arab Republic (Egypt). . _ do
Republic of South Africa
do
48.4
455.7
67.2
505.5
5.2
51.4
4.2
38.2
7.5
50.8
5.2
40.7
4.6
50.2
13.8
39.9
3.4
35.6
5.4
40.5
13.9
47.2
7.0
48.7
010
54.0
4.0
53.8
5.0
53.0
do
do
do
do
874.9
717.6
301.9
53.6
860.0
517.1
195.2
51.9
77.4
46.2
13.4
4.1
64.7
31.6
16.5
5.8
93.6
19.6
18.2
4.1
85.5
27.9
31.8
4.3
65.8
47.4
24.9
7.0
69.2
51.2
23.0
4.8
77.6
53.4
19.3
3.8
77.5
58.6
27.4
7.8
65.0
33.5
23.4
4.3
80.0
61.1
28.2
5.2
91.7
40.1
37.9
7.0
101.7
54.3
23.7
6.5
74.2
34.9
28.4
5.4
do
do
do
167.1
436.3
2, 954. 3
201.1
374.3
3, 489. 7
16.3
32.1
329.8
15.1
23.7
304.4
28.4
28.5
352.7
28.3
29.6
335.3
20.6
29.0
346.5
26.5
25.9
356.7
19.8
24.7
391.3
15.9
32.5
356.7
16.9
35.8
349.3
20.6
37.4
361.6
21.3
40.6
415.4
29.7
29.3
415.3
12.4
30.7
377. 5
do
do
do
1,095.0
29.0
1, 708. 9
1,195.3
32.4
2,117.9
96.7
.4
169.7
88.0
1.8
224.3
101.9
5.1
207.8
96.3
4.0
193.2
118.5
7.5
191.3
112.4
1.3
209.1
117.3
4.9
204.2
108.2
4.1
241.9
169.5
2.5
199.3
143.1
3.2
330.2
117.6
1.5
227.7
129.6
2.1
217.6
107.7
2.6
208.9
do
do__
do
1, 120. 6
57.7
2, 288. 7
1,261.7
105.5
2,335.3
119.4
14.5
203.4
106.2
9.0
184.1
124.7
13.4
221.6
121.0
5.1
211.7
108.5
11.5
197.2
107.9
9.1
181.6
118.3
7.8
182.7
106.5
11.7
230.7
114.6
5.6
202.8
150.9
13.3
272.6
110.7
8.9
212.8
134.3
6.1
210.1
91.4
6.0
177.7
806.2 756.6
649.4
783.5
740.8
affect continui ty of the series,
9ln<3ludes da ta not sh own sep irately.
840.9
866.0
861.5
728.8
680.4
Excl. Dept. of Defense shipments
Seasonally adjusted . .
By geographic regions:
Africa
Asia
.
Australia and Oceania
Europe .
Northern North America
Southern North America
South America .
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..
do
661.3 801.5 879.1
8, 072. 3 9, 138. 0
Revised.
cfNumber of stocks represents number currently used; the change i n numbc r does n ot
9
303
SURVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Annual
October 1970
Aug.
Sept.
1970
Oct. I Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
461 5
27.6
71 0
20 5
37.0
142 7
60 4
483.0
35.3
66.0
27.7
31.6
150.4
63.8
482.6
41.0
65.8
32.8
39.0
143.0
60.6
479.0
36.5
73.2
29.2
29.4
136.6
70.0
FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Value of Exports— Continued
Exports (mdse.), incl. reexports— Continued
By leading countries— Continued
North and South America— Continued
Latin American Republics, total 9
Argentina.
Brazil
Chile
.
Colombia
Mexico
Venezuela.
_ . __
Exports of U.S. merchandise, total
Excluding military grant-aid . .
Agricultural products, total
Nonagricultural products, total
mil. $
do
do
do
.do
do
do
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
Beverages and tobacco
4, 699. 1
281.4
704.6
306,7
319.2
1, 378. 0
655.0
4, 869. 2
378.3
672 0
314.6
302.8
1, 449. 5
708.2
431.2
34.4
58.1
37.4
27.1
116.0
65.6
409 1
36 2
55 6
30 8
25.6
114 6
57 7
464.6
37.1
56 7
25.9
30.6
145.9
64.9
433.8
35.7
60.6
25.2
28.5
135.8
59.8
446.2
34.3
53 9
34 5
28 7
137 6
54 7
406.1
33.3
47. 1
22.6
28.4
120.8
61.2
421.7
33.6
60 6
25.2
28.4
125 2
55.4
480.5
42.2
61 5
23.9
29.8
141 2
66 1
502.1
41.9
66 9
26.0
43.9
155 2
59.6
34, 199. 0 37,461.6 3, 160. 2 3 140 5 3, 574. 3 3, 417. 4 3 370 0 3, 255. 9 3 379 6 3 584 5 3 593 5 3 881 1 3, 723. 3 3, 530. 3 3, 258. 5
33, 626. 0 36, 787. 7 3, 098. 4 3,067 2 3, 518. 7 3, 361. 4 3 311 4 3, 195. 5 3,335 7 3 542 2 3 544 0 3, 847. 5 3, 671. 5 3, 487. 6 3, 217. 6
528.5
6, 227. 2 5, 936. 3
657.8
593.4
558.3
438.4
646.0
51 5. 3
563. 1
553.8
567. 1
550. 5
590 8
471 5
27,971.9 31, 508. 0 2, 735. 9 2 671 3 2,935.5 2, 761. 7 2 779 3 2 740.6 2 829 1 3 021 3 3,039 7 3 314 0 3, 129 9 2, 972. 0 2, 729. 9
3 889.6
161.6
2, 463. 1
3 732 7
199 4
2, 127. 2
312 9
13.8
181.9
318 0
16 4
182 8
372 0
23 9
195.0
373.5
18.5
222.8
334 5
14 9
195 6
324 1
11.5
191.3
350 5
11 6
209 7
314 1
12 4
183 5
319 7
14 1
179.5
325 0
14 4
190 9
336 7
14 3
195.9
370 6
12.1
214.4
57.5
73 6
80. 1
88.7
92 8
31.9
39 9
56 7
47 7
56 3
59 1
53.0
43.7
do
702.5
713.4
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, 540. 7
459.4
810.3
586.2
3 569 5
280.2
822.3
711.5
292 4
17.3
33.2
86.3
Mineral fuels, lubricants, etc 9
Coal and related products
Petroleum and products
do
do
do
1 049.9
523.9
454.4
1 130 7
636.3
433.9
105 4
55.7
44.0
4
2
3
3
392 6
19. 1
137.1
71 5
366.8
14.4
137.2
62.7
337 7
20 2
101 9
55 3
346 4
46.0
73.9
68.0
98 4
54 o
39*7
103 6
61.7
37.4
106.7
65.5
36.6
102 0
60 2
37 1
88 3
50.3
32.9
274
16
35
75
361 5
14.9
209.3
2
0
3
0
367 8
29 3
103 8
64 6
396 8
37.0
110.4
72 8
387 4
38 2
97.9
88 6
409 9
33.9
104.7
77 6
359 8
24.5
70.5
94.0
359.3
10.7
81.1
93.5
98 6
59 1
37 0
120 5
71 4
43 2
129 5
83 2
39.8
134 9
90 2
41 6
142 6
98.7
38.6
141.0
91.8
43.1
128.5
88.3
35.1
360
39
84
66
Animal and vegetable oils, fats, waxes
do
274.4
307.6
20.5
24 6
27.0
34.7
36 3
31.0
26 6
50 4
31.1
41 6
55.2
43.8
40.4
Chemicals
do
3, 287. 0
3, 382. 5
310.3
282 6
297.5
289.9
302 3
318.5
320 2
342 3
324 8
354 1
340.9
326.1
304.5
Manufactured goods 9
Textiles .
Iron and steel _
Nonferrous base metals
do
do
do
do
3, 939. 4
522.3
610.5
600 0
4 554. 7
575.5
972.5
712.0
410.9
51.6
85.2
66 3
395 9
47 1
84.5
68 6
451.9
54.7
110.8
67 6
411.3
54.2
107.4
62.2
431
52
121
72
425.6
49.1
106.8
81.3
433 6
50 6
112 1
85 3
447
55
115
81
452 0
50 5
127.1
83 2
483
53
142
90
455 4
52.0
117.7
78 5
417.3
44.6
115.1
70.3
396.0
46.4
103.2
60.8
Machinery and transport equipment,
total
mil. $ 14, 447.4 16, 380. 4 1 320.6 1 334 1 1 505.3 1,391.4 1 424 6 1, 359. 7 1 430 2 1 537 9 1 564 3 1 765 9 1 545.9 1, 468. 5 1, 299. 2
Machinery, total 9
Agricultural
Metalworking
Construction, excav. and mining
Electrical.
Transport equipment, total
Motor vehicles and parts
Miscellaneous manufactured articles
Commodities not classified
Value of Imports
General Imports, total
Seasonally adjusted
By geographic regions:
Africa .
Asia.
_ _
Australia and Oceania
Europe
_ Northern North America
Southern North America
South America
By leading countries:
Africa:
United Arab Republic (Egvpt)
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.
9 Includes data not shown separately.
928.0
55.5
33 6
114 3
257.5
579 1
373.6
224 6
119.7
857.9
50.0
31.7
117.0
227.9
533.4
342.7
201.0
155.4
2
2
1
0
821.5
45.9
23.4
111.3
221.0
538.1
279.1
206.6
123.9
8
2
7
8
9
0
1
9
977.7
52.3
35.7
127.8
245.2
490.8
256.7
213.7
136.4
899.0
49.3
36.6
114.4
236.5
400.3
247.8
205.9
119.3
do
do
do
do
do
do
do
do
do
8 597 2
626.8
333 6
1 098 5
2 284 0
5 850. 1
3, 370. 2
2 144 2
924.0
do
do
33, 226.3 36, 042. 8 2 908 6 3, 130. 4 3 429 1 2 9B7 0 3 245 6 3 125 5 2 944 3 3 385 9 3 391 4 3 174 9 3, 504. 2 3, 312. 0 3, 116. 5
3 179 1 3 053 8 3 ^20 7 3 211 5 3 005 5 3 249 7 3 255 9 3 213 6 3 247 5 3 360 7 3 309 6 3 241. 7 3, 364. 5
do
do
do
do
do
do
do
9 865 4
644.4
343 4
1,247 8
2, 677. 7
6, 515. 0
3, 788. 0
2 445 9
1, 226. 8
847 5
46.7
28 1
106 7
238.3
473.1
245.4
2^2 6
109.5
1 122.3 1 045 1 69 4
6 911.4 8 275 9
774 7
696 5
828 3
106 8
10, 337. 7 10 335.6
846 4
9 009 3 10 393 2
2 259.4 2 518. 4
2 879 3 2 643 1
714 9
184 2
212 6
808 8
47 3
28 5
102 4
229 6
525 3
352 2
209 3
131.7
82
763
79
873
0
4
6
7
93
778
81
979
9
3
5
9
904 8 1 025 4
183 6
217 3
243 9
253 7
96
657
54
861
9
2
8
0
38
19 8
2 7
28 0
4 2
33 6
47 8
25 9
6 9
18 8
17 3
12 9
364 2
AQ A
Of) C
842 3
5 9
2 721 3
1 101 7
58 4
2 058 3
842 5
80
2 603 4
1 203 8
51 5
2 120 6
217
112
4
169
76 8
6
7
7
6
0
209
103
4
182
72 1
g
6
0
7
7
67 7
7
223 9
100 4
5 0
181 1
do
9 005 2 10 389 9
714 2
904 5 1 024 6
914 5
4 213 6
155 6
616 3
151 4
240 4
1 029 3
940 1
324 6
12 6
51 9
12 2
16 1
72 0
83 1
348
14
53
20
24
66
82
7
9
5
8
1
8
1
388
12
60
12
23
87
86
4
8
5
3
3
3
6
5
5
4
8
2 6
24 0
do
do
do
do
do
do
2
2
9
9
0
8
g
104
752
57
979
4 7
23 9
54
30
5
27
15
30
461
4 288
190
669
205
264
909
949
8
6
5
9
19
18 0
83 9
32 1
7 5
24 0
16 1
46 3
453 8
do
do
do
do
do
do
do
106
765
78
952
951 2
274 7
268 1
595 1
344 1
73 0
307 2
193 6
422 6
4 888 3
246
105
6
205
9
6
3
4
960 3
285 6
904. A
495 0
312 1
63 8
240 0
174 3
435 9
4 054 4
66 1
6
5
3
1
7
86
605
62
845
845 3
237 8
260 1
do
do
do
do
do
do
do
1
0
0
3
4
6
6
9
i
0
7
845 3
241 5
242 5
14
17 9
66
26
5
32
16
30
478
105
735
66
888
117 0
939 3 1 001 3
57.9
56 0
32 6
37 4
113 6
122 3
247 0
264 0
625 0
764 6
352 0
350 8
212 1
213 4
115 4
118 6
K
37 8
243.0
6
2
1
8
3
0
8
9
4
6
1
969 6
63 3
31 4
121 8
246 4
568 3
307 2
229 9
Q8fi 9
32 4
255.9
39
23 1
114
710
72
875
895 4
54 1
28 1
113 5
240 1
534 8
*>80 2
206 6
113 2
914 6
198 4
205 8
do
do
36
24.3
845 7
45 5
34 4
111 7
213 0
578 9
318 5
198 6
110 2
37
24
6
24
16
23
410
337
13
63
11
20
87
57
4
3
0
6
8
1
8
1
0
3
2
5
6
3
232 5
OKA
43
22
5
22
14
32
474
85.8
834.2
87.0
990.0
76.8
860.6
89.6
860.8
942 6 1 017 1 851.9
224.7
259 6
243 0
235.7
259 1
203 0
759. 5
207.3
259. 1
1.5
22.1
.4
20.2
2
5
5
9
1
0
1
57.4
21.1
71
17 1
9.9
45 7
512 7
60.5
17.9
5 6
12.7
12.7
53 9
541.9
85.2
.6
236 0
124. 1
5.1
136.5
90
740
54
898
6
1
8
5
2 3
20 6
3
2
8
1
1
6
3
38
20
6
23
11
42
443
1
6
2
3
5
1
9
94.2
820.1
73 9
978.3
2 4
20.0
60
24
7
25
15
40
486
4.Q Q
409 »
57
34
8
30
16
37
431
242
90
3
173
74 6
7
2
8
2
3
230
91
15
186
225
97
8
149
248
117
5
194
73 6
7
7
2
4
3
75 5
7
281 3
121 8
35
179 0
239
104
5
182
79 9
9
269 7
115 1
4 6
189 0
77.9
1.1
269 0
114 7
6.5
201 7
985 9
845 2
845 2
960 1
951 0
942 5 1 017 0
851.8
759.0
372 6
13.9
57 8
13 5
22 9
83.2
87 2
385.7
15.6
68 3
10.9
20.4
82.0
86.2
50 3
27 6
ft ft
23 4
16 8
402
11
53
8
27
98
96
8
9
6
9
7
9
3
6
5
4
7
8
3
7
999 0
49.5
40 1
122 7
271.6
546.9
354.8
221 6
156.0
69 8
g
8
8
2
8
393
14
48
14
25
104
104
0
7
2
8
0
0
4
69 4
g
3
9
1
1
416 1
12 2
62 0
12 6
25 Q
102 8
107 0
ft C
or
r\
•100
AfiA Q
429
12
43
7
27
125
89
6
4
4
7
9
0
7
455 4
16 1
C1
C
20
24
129
98
9
4
8
8
73 0
5
5
9
3
8
377 0
13 1
38 3
11 3
24 3
114 9
72 4
425
13
64
8
25
105
88
9
0
9
5
6
0
7
Sept,
SURVEY OF CURRENT BUSINESS
October 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1970
1969
1969
Annual
S-23
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Value of Imports— Continued
General imports— Continued
By commodity groups and principal commodities:
Agricultural products, total
mil $
Nonagricultural products, total
do
454.2
450.6
491.4
460 9
404 0
512 6
440 0
5 053 6 4 954 4
399 0
488 7
471 7
455 5
394 5
517 7
28 172.7 31,097 5 2 510 6 2 737 2 2 969 5 2 585 1 2 758 7 2 653 8 2 488 9 2 873 3 2 873 7 2, 734. 9 3, 012. 7 2, 861. 3 2, 662. 3
Food and live animals 9
do
Cocoa or cacao beans
do
Coffee
_-_
_. do
Meats and preparations
do
Sugar
.
_
do
Beverages and tobacco
do
Crude materials, inedible, exc. fuels 9
do
Metal ores _ .
.
_ do
Paper base stocks
do
Textile
fibers
_
do
Rubber
do
4 577 3
136 0
1, 139. 7
746 5
640.1
786.3
3,345 7
1, 007. 8
454 8
335 1
191.8
4 530 8
168.2
893.9
863 8
638.2
777.8
3 460.3
1, 012. 6
520 8
260.1
279.5
363 7
15 4
62.0
94 4
56 5
54 1
290 8
91.6
40 3
23.8
26.9
368 6
55
75 3
91 0
44 7
67 1
288 8
92 2
42 7
16 8
25 2
430 1
11.2
103.5
88 1
57.3
93.0
320 7
112.8
52 0
16 7
30.4
369 4
16 5
99.9
54 5
34 1
72 7
275 2
90 5
47 4
18 4
26 2
454 7
27 2
84 2
68 4
78 1
67 2
313 8
104 7
47 8
21 3
25 8
431 6
32 7
92 6
82 9
38 4
68 0
271 4
75 2
41 8
20 5
27 4
411 5
19 8
103 0
83 6
36 1
63 7
244 7
72 3
41 2
21 4
20 2
473
18
96
93
56
64
273
68
49
22
26
0
7
1
8
0
8
7
6
5
9
0
488 8
17.4
96.4
80 6
84.2
71.5
260 5
76.9
43 0
21.4
20.7
409 2
15.6
96.3
64 9
49.1
64.9
281.2
103.2
41.2
18.7
19.2
114.1
84.3
73.0
70.9
298.7
114.7
42.8
19.4
18.5
436.3
14.9
94.4
97.3
62.6
68.2
280.5
114.3
41.2
15.9
15.7
435.1
12.5
99.7
91.2
74.5
49.8
290.7
117.9
39.7
14.9
15.2
Mineral fuels, lubricants, etc
_
Petroleum and products
Animal and vegetable oils and fats
Chemicals
_
do
do
do
do
2, 526. 7 2, 794. 0
2 343 2 2 559 9
136 7
157 9
1 129 1 1, 232. 0
227.6
205 0
10 2
99.2
229
212
10
99
2
9
2
7
247.4
223 1
13 9
120 4
201 4
185 5
11 7
101 8
292
261
16
99
1
9
2
7
274
250
9
112
7
6
6
2
279 3
252 4
8 6
110 8
296
270
10
129
6
9
2
0
244.9
223 8
10 1
133.2
224.2
193.0
14.2
120.5
246.8
221.5
21.1
121.1
213.1
188.9
13.1
114.1
255.5
231.4
14.9
124.9
Manufactured goods 9
Iron and steel _
Newsprint
Nonferrous metals
Textiles
do
do
do
do
do
8 162 4
2 046 5
862 9
2 022 5
962 4
7 893 3
1, 809. 1
938 6
1 534 6
1, 019. 0
645 9
160.3
74 5
116 8
93.4
707 5
176 6
82 6
134 0
87.2
698 4
169.7
84 6
129 6
84.5
620
137
79
122
73
2
7
6
4
2
636 5
152 5
87 5
114 7
80 1
656
121
76
144
99
2
4
7
6
7
569
109
71
124
81
696
137
81
146
99
2
2
2
0
9
691.4
150.2
78 4
145.1
92.8
692.1
164.3
76.5
134.3
93.1
730.3
166.8
76.3
150.8
96.5
726.2
178.3
73.4
136.3
99.2
654.5
171.2
68. 1
116.8
89.1
7 986 9 9 768 2
3, 688. 4 4, 489. 0
182.7
203 9
1 492 1 1, 946. 9
716 8
388.2
16 4
174.0
845 6
394.9
16 9
179.3
964 8
436.7
13 0
204.3
873 9
383.4
13 2
179.1
892 7
389 0
15 8
171 8
862 5
387.4
12 9
151 4
839 9
381.5
18 1
154 0
957 1 1 012 3
453.5
449 3
14.6
17 5
189.0
191 8
909 5 1 009.6
459.7
415.9
14.1
12.9
198.7
168.6
897.4
466.0
16.4
189.1
735.0
427.4
10.9
203. 5
5, 279. 2
4 623 8
4 127 6
1 331 1
328.6
274 5
392 7
108.3
450.7
400 2
393 4
121 5
528 1
473 2
413 9
127 8
490
440
349
113
503
456
346
127
475
420
350
89
458
398
326
89
507
436
380
105
112.8
172 7
194 8
116.5
182 9
213.0
118.2
183 2
216. 5
118.6
180.0
213.5
119 6
205 5
245 8
U9.6
195 5
233 9
122 3
188 3
230 2
122 1
182 0
222 2
103 9
225.6
234.4
107 2
236.9
254.0
107 8
230.5
248.4
107.7
248.2
267.3
109 1
266 2
290. 4
113 1
220 5
249.3
112 0
245 5
274.9
-
Machinery and transport equipment
Machinery, total 9 _ _
Metalworking
Electrical
do
_ do
do
do
Transport equipment
do
Automobiles and parts
do
Miscellaneous manufactured articles
do
Commodities not classified
do
Indexes t
Exports (U.S. mdse., excl. military grant-aid):
Unit value
_ 1957-59 = 100
Quantity
do
Value. _
do
General imports:
Unit value
do
Quantity
do
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 $
4 298 5
3 711 6
3 346 1
1*207 8
6
9
2
6
6
8
7
8
2
4
o
3
7
475.5
8.7
8
7
0
4
558.8
477 1
371.3
107 5
493.6
432 9
363 5
95.6
549.9
483 2
418.4
111.7
431.4
352 0
449.2
113.9
307.7
239 7
450.4
105.7
122 9
188 7
231 9
120 9
203 7
246 3
123.2
200 1
246.4
122.7
218.0
267.5
123.3
206.6
255.3
124.0
195.5
242.5
122.8
182.2
223.7
112 0
249 1
279 0
113 6
219 6
249 3
113 2
253 2
286 7
114 0
251.8
287.1
114.2
235.4
268.8
114.4
259.2
296.7
116.5
240.6
280.4
117.8
223.9
263.9
1
5
3
2
4
0
8
9
194 482
19 359
1
1 199 286
19 915
18 475
1 800
17, 310
1,694
19 529
1 995
20 116
1 953
17 845
1 871
16 418
1 g28
17 146
1 894
17 621
2 008
19 386
2 013
19, 332
2,126
22 312
2 101
282 751
21 139
1
1288 620
21 570
23 890
1 913
26 020
1,915
28 395
2 052
21 943
1 727
28 666
1 907
24 682
1 926
23 902
1 767
24 301
2 029
24 061
2 043
21 928
1 919
26 692
2 151
9.97
50.0
1,434
10.69
48.4
1,520
12.40
53.2
1,680
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)
Certificated route carriers:*
Passenger-miles (revenue)
bil
Passenger-load factor §
percent
Ton-miles (revenue), total j
mil"
Operating revenues 9
mil $
Passenger revenues
do
Freight and express revenues
do
Mail revenues
do
Operating expenses
do
Net income after taxes. .
.
do
Domestic operations:
Passenger-miles (revenue)
bil._
Express and freight ton-miles
mil
Mail-ton mil es
do
Operating revenues
mil. $
Operating expenses
do
• Net income after taxes
do
International and territorial operations:
Passenger-miles (revenue)
bil
Express and freight ton-miles
mil
Mail-ton miles
do
Operating revenues
mil $
Operating expenses
do
Net income after taxes
do
113. 96
52.6
15, 249
7, 753
6 2°2
585
276
7,248
208
125. 41
50.0
16, 898
8,792
7 120
'686
296
8,400
55
13.48
59.8
1,687
87.51
1,775
567
5, 691
5,397
83
95.95
1,971
616
6,517
6,237
11
26. 45
1,135
700
2,062
1,852
125
29.47
1,384
729
2,275
2,164
44
10.25
46.7
1,384
2,407
1 968
175
69
2,188
93
9.90
44.4
1,388
9.99
169
48
7.59
172
47
1,722
1 600
34
7.61
185
53
7.11
167
55
8.54
171
71
1,682
1 639
-20
8.37
153
53
7.05
147
50
8.44
171
53
p 1, 677
p 1 699
p-43
7.77
206
54
8.10
218
53
9.44
206
50
3.49
105
56
2.65
111
54
685
588
60
2.29
129
57
1.95
120
73
2.24
114
85
537
565
—28
2.08
94
59
1.76
100
64
2.17
113
67
p 475
v 499
p —30
2.20
112
65
2.60
112
68
2.96
114
68
_
10.78
47.9
1,489
10.45
46.1
1,403
8.81
45.3
1,243
1 784
'185
85
2 204
48
Local Transit Lines
Fares, average cash rate
cents..
24.3
23.6
24.3
24.4
24.3
Passengers carried (revenue)
mil..
6,310
6,491
479
520
567
r
Revised.
P Preliminary,
i Annual total reflects revisions not distributed to monthly (iata.
I Data include trade in silver ore and bullion form erly repor ted separ<itely.
9 Includes data not shown separately.
§ Passenger-miles as a percent 3f availa ble
seat-miles in revenue service; reflects proportion of se£iting capa city actua lly sold a nd utiliz ed.
J Applies to passengers, baggage, freight, express, and mail carried.
Ttificated route industry covers passenger-
9.06
43.1
1,295
10.61
49.9
1,466
P 2 152
P 1 781
P iQs
P 2 198
P 73
25.7
25.7
25.6
25.4
25.5
25.4
25.4
25.2
24.7
25.4
440
449
491
542
515
522
500
528
470
505
cargo ( includin g local service, he icopter, ind other carriers) and all- cargo car riers. Be<ginning
Jan. 1 )70, dom estic seri 3S reflect 5 operaticms betw 3en the 4 8 States and Alas ka and J lawaii;
prior t o 1970 tllis traffic3 was in( luded in the inttjr nation a 1 and territorial series. S elected
reveniics by ty pe (as sh(>wn for tc>tal indus try) and all traffi 3 statistic s cover s eheduled service
only; t otal reve nues, ex]senses, aiid incom e for all {groups ol carriers also reflect nonscl leduled
service .
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
In the 1969 edition of BUSINESS STATISTICS
1969
1969
1968
Annual
October 1970
Aug.
Sept.
Oct.
1970
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
151.0
161.2
172.8
Aug.
Sept.
TRANSPORTATION AND COMMUNICATION—Continued
TRANSPORTATION— Continued
Motor Carrier* (Intercity)
Carriers of property, class I (qtrly. total) :
Number of reporting carriers
Operating revenues, total
mil. $__
Expenses total
_do_ __
Freight carried (revenue)
mil. tons..
Freight carried, volume indexes, class I and II
(ATA):
Common and contract carriers of property
(qtrly)
average same period, 1957-59=100-Common carriers of general freight, seas, adj.f
1957-59=100-.
Carriers of passengers, class I (qtrly.): §
Number of reporting carriers
Operating revenues, total
mil. $.
Expenses, total.
..
. .. do
Passengers carried (revenue)
mil
» 1,289
9,513
9,030
531
1,289
2,775
2,683
144
183
1,379
2,640
2,567
136
175
184
159.4
168.9
170
641.1
563.8
184.3
170
676.4
593.6
175.0
70
203.5
162.1
48.5
70
166.5
151.8
42.4
70
147.6
145.1
39.2
11,451
10,346
439
9,062
1,729
659
461
2,836
2,546
118
2,274
423
140
98
2,958
2,683
106
2,363
429
166
92
2,818
2,569
99
2,337
422
60
192.0
188.8
1.349
3,390
201.7
197.9
1.356
2,838
190.3
186.4
1.378
2,571
Class I Railroads
Financial operations (qtrly.):
10, 860
Operating revenues, total 9
mil. $
9,755
Freight
do 444
Passenger
do
8,582
Operating expenses
do
1,595
Tax accruals and rents
_
do _
683
Net railway operating income.
...do
565
Net income (after taxes)
_
do
Traffic:
Ton-miles of freight (net), revenue and nonrev4
759. 1
enue (qtrly )
bil
4
744. 5
Revenue ton-miles
do
Revenue per ton-mile (qtrly. avg.)
cents. . 1.310
Passengers (revenue) carried 1 mile (qtrly. )..mil_- 13,120
Travel
Hotels:
Average sale per occupied room
dollars-Rooms occupied
..
% of total.
Restaurant sales index same mo 1951 = 100
Foreign travel:
U.S. citizens: Arrivals. _ _ _
._
thous..
Departures
do
Aliens: Arrivals..
.
do
Departures...
_
do ..
Passports issued
do
National parks, visits
do
1,301
2,698
2,562
144
U,289
10, 482
10,036
560
4
781. 7
767.9
1.347
12, 169
173.6
173
173.9
166.1
167.6
180
172.3
178.2
173.0
122.6
23,082
22,458
2466
2158
276
515
2 197. 9
254.5
2372.8
12.37
59
119
13.09
60
118
13.04
60
122
13.66
68
120
12.75
55
112
11.66
44
118
13.22
52
107
12.98
55
114
12.23
57
122
13. 95
61
127
12.87
58
131
13.80
56
125
12.17
53
117
13.74
55
106
5,911
5, 767
3,602
4
3, 039
1,820
42,403
868
636
415
354
137
9,518
589
450
394
314
107
4,144
440
371
309
274
94
2,826
395
355
256
222
77
1,602
342
429
245
272
93
1,040
469
402
297
214
125
987
414
423
237
187
153
1,133
496
499
291
244
246
1,559
480
481
295
245
277
1,878
509
545
341
289
267
3,338
536
731
349
313
311
6,667
254
9,912
163
9,969
11.35
61
117
5,021
4,820
3,084
2,613
1,748
42,392
167.1
4
2
58. 2
126
COMMUNICATION (QTRLY.)
Telephone carriers:
Operating revenues 9
Station revenues
Tolls, message
Operating expenses (excluding taxes)
Net operating income (after taxes)
Phones in service, end of period
Telegraph carriers:
Domestic:
Operating revenues
Operating expenses
Net operating revenues (before taxes)
International:
Operating revenues
Operating expenses
Net operating revenues (before taxes)
mil. $
do
do
do
do
mil
15,068
7,578
5,693
9,020
2,553
95.1
16, 781
8,213
6,506
10, 270
2,798
100.3
4,231
2,062
1 645
2,632
691
98.9
4,375
2 120
1,717
2,722
734
100.3
4,354
2, 149
1,660
2,741
732
101.0
4,543
2,227
1,753
2,898
764
101.7
mil. $
do
do
358.2
309.5
29.6
391.3
330.8
32.9
95.7
84.8
5.9
104 3
85 1
77
97.5
82.8
9 4
106.7
85.4
11.3
do
do
do
153.4
116.1
30.6
179.9
132.6
39.1
45.7
33.2
10.4
48 3
36.5
9.3
47 5
34.9
10.3
48.5
35.9
10.2
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:
Acetylene
mil. cu. ft.
Ammonia, synthetic anhydrous..thous. sh. tons.
Carbon dioxide, liquid, gas, and s o l i d - _ i _ _ _ d o _ _ Chlorine, gas (100% C13)
do...
1,140
1,007.1
110.4
808.6
1,203
1,037.3
99.4
786.4
1,242
1,113
1,203
1,097.2 1,060.0 1,129. 8
93.5
82.6
80.8
811.0
788.2
845.8
1,228
948.0
73.7
787.2
1,254
1,032.5
80.1
745.4
1,306
1,319
1,165.5 1,139.4
102.3
96.5
814.3
822.5
1,848.6
6, 254. 3
272,884
4,915. 5
151.0
479.6
23,123
379.7
150.2
519.3
22, 751
410.7
154.3
540.8
24,022
438.8
152.4
517.4
22,535
393.9
149.6
506.0
21,807
430.4
176.8
551.4
23,713
458.7
4, 502. 8
149.4
9,618. 7
653.8
374.9
12.4
824.4
50.5
113.0
2,252.5
368.8
12.2
793.8
49.4
119.7
2,280.4
410.4
419.8
349. 6
14.3
11.3
13.5
821.2
858.0
840.1
63.4
60.3
60.9
119. 9
120.1
130.8
2,515.2 2,424. 7 2, 708. 5
15,385
14, 204
12,119.9 12,713. 5
1, 014.1 1,096. 3
8, 444. 5 9,422.0
Hydrochloric acid (100% HC1)
do
1, 752.1
Nitric acid (100% HNOs)
do... 6, 362.1
Oxygen (high purity)._f
mil. cu. ft. 247,995
Phosphoric acid (100% P3O5)
thous. sh. tons. 4, 958. 3
Sodium carbonate (soda ash), synthetic (58%
Na 2 O)
thous. sh. tons. 4, 595. 7
Sodium bichromate and chromate
... .. do _.
146.0
Sodium hydroxide (100% NaOH)
do._. 8, 867. 7
Sodium silicate, anhydrous
thous. sh. tons.._
633.5
Sodium stilfate, anhydrous
thous. sh. tons
1,482.7
Sulfuricacid (100% H2SOO
do._. 28, 556.4
n, 471.0
28,727.4
r
Revised.
1 Number of carriers filing complete reports for the year.
2 Preliminary
estimate by
Association of American Railroads.
3 Data cover 5 weeks; other months, 4
4
weeks.
Annual
total
reflects
revisions
not
distributed
to
the
monthly
or
quarterly
data.
5
After extraordinary items.
f Revised monthly data (1957-69) are available.
145.7
528.4
23, 984
408.6
160.8
557.3
23,885
447.1
350.6
343.6
10.5
11.3
800.9
756.0
37.4
44.5
115.4
117.1
2,302. 6 2,312.6
157.1
582. 0
23,325
480.3
378.3
370.4
13.6
12.7
847.8
835.2
55.0
52.2
116.0
124. 0
2,465.3 2,530.5
1,220
1,275
1,128.9 1,136. 5
109.5 r 100. 3
839.2 r 810. 3
165.9
571.7
24,040
465.0
' 166.8
161. 5
548. 7 r 475. 7
23,401 •23,147
422.1 '388.1
r
391.4
13.6
856.8
65.2
108.0
2,517.4 •
1,125
1,214
1,065.5 1.090.1
106. 3
' 104.2
811.4
r 844.4
159.6
497.2
23, Oil
434.2
332.7
379.4
365.4
10.7
12.7
12.6
872.5
816.8 • 8 89. 3
48.6
'54.8 r ' 39. 1
107.0
108.0
103.4
2,398.4 •2,310.7 2, 262. 3
Beginning with 1st quarter 1969 reporting period, motor carriers are designated class 1
iftl ley have annual gross operating revenues of $1 million or over (1968 data have been restated
on the new basis).
t Revisions for 1967 available upon request.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
October 1970
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
S-25
1969
1969
Annual
Aug.
Sept.
Oct.
1970
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
133.2
132.2
Aug.
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS— Continued
Organic chemicals, production :cf
Acetic anhydride
Acetylsalicylic acid (aspirin)
Creosote oil
Ethyl acetate (85%)
Formaldehyde (37% HCHO)
Glycerin, refined, all grades:
Production
Stocks end of period
Methanol synthetic
Phthalic anhydride
mil Ib
do
mil gal
U.651.6 i 1,748. 0
31.2
37.5
U19.1
i 106. 0
144.4
mil. Ib
do
i 153. 2
i 162. 0
1 4, 099. 6 i 4,192. 8
129.5
134.5
129.5
1.7
9.3
11.0
10.0
11.4
348.7
7.1
357.8
16.7
381.7
10.4
355.0
3.0
9.0
2.9
2.7
152.1
3.5
143.0
136.2
131.5
3.4
6.5
3.0
8.8
10.0
3.0
8.6
13.1
358.7
12.7
324.8
14.5
321.1
13.6
382.6
25.5
373.7
22.9
372.4
2.9
3.0
2.8
9.3
2.4
8.0
'13.2
363. 1
11.8
329.7
10.2
r
-
-
do
do
mil gal
mil. Ib
347.0
29.5
580.2
i 748. 3
344.1
30.5
i 624. 8
774.0
26.5
32.4
51.7
58.6
31.0
31.9
54.1
58.2
30.3
30.5
56.6
61.1
31.4
30.5
52.5
64.3
29.0
30.5
56.4
72.1
24.5
27.5
52.5
56.4
26.5
26.5
53.5
61.8
27.9
23.8
54.3
63.2
29.1
24.9
59.7
58.8
28.7
26.5
60.4
64.8
28.8
27.2
57.9
61.0
'25.3
r
25 3
43.4
59.9
_
mil. tax gal
_ __ _do _
do
do
708 1
189.2
564.4
81.4
738.3
179.7
592.7
85.6
62.8
178.2
52.4
62.2
181.4
42.9
76.3
176.3
52.7
50.8
177.2
33.7
53.2
179.7
43.8
42.2
164.4
40.2
57.7
181.2
44.0
8.0
8.6
56.9
184.8
45.0
6.6
6.2
59.2
184.0
48.4
6.2
59.8
177.1
46.6
57.8
177.3
46.3
5.9
48.5
166. 9
40.7
mil. wine gal
do
do
303.5
305.6
2 7
318.5
21.6
21.4
21.6
21.7
24.9
25. 1
2 4
23.7
23.6
24.8
24.3
2.5
2.4
3.0
26.0
26.1
2. 9
thous. sh. tons
do
do
do
1,253
1,088
1,230
49
951
105
579
102
323
87
2,078
92
1,773
48
27.9
24.3
ALCOHOL
Ethyl alcohol and spirits:
Production
Stocks, end of period
Used for denaturation
Taxable withdrawals
_
.»
Denatured alcohol:
Production
Consumption (withdrawals)
Stocks end of period
7.1
7.4
8.4
28.1
27.9
2.7
23.2
23.3
2 6
28.3
28.2
2.7
18.0
18.1
2 6
23.7
23.7
2 4
18, 956
2,607
13, 584
1,303
16, 599
1,799
12, 229
1,233
1,580
1,302
1,421
1,004
1,319
227
131
3,557
205
233
138
3,829
184
4,170
' 4,796
4 149
535
4,290
448
Explosives (industrial), shipments, quarterly, including black blasting powder
mil. Ib
1,582 2
1 925.0
Paints, varnish, and lacquer, factory shipments:
Total shipments
mil $
Trade products
._
do
Industrial
finishes
do
2 586 8
1,427.5
1,159.3
2 776. 7
1, 473. 5
1, 303. 5
261 7
149.3
112.4
253 4
133.7
119 7
234 4
119.1
115.3
186 2
91 6
94 6
i 8, 817
2,790
8,568
3,461
655
3,278
694
3 294
715
3,306
1691.6
i 628. 8
i 667 4
!615 4
11, 096. 8 1 1, 123. 8
1816 1 i 770. 5
51.9
51 5
91.2
61.9
51 8
54 7
97.4
64 0
61.6
58 7
106.7
69 9
43 1
54 4
91.0
65 1
i 192. 6
15.0
15 6
14 8
15 5
14 0
11 0
J348 8 i 332. 6
12, 895. 7 13,251.6
13,215.1 13,638.8
14 567 7 15 440 7
28 5
263.9
269.5
474 1
26 6
272.4
285.4
480 3
32 0
279.0
323.6
492 3
29 4
276.9
311.5
486 6
26 5
280.2
311.5
497 7
29 9
275.5
284. 9
448 4
r 318.
8
2.4
2.6
7.1
6.7
6.0
24.3
24.4
2 8
FERTILIZERS
Exports, total 9
Nitrogenous materials
Phosphate materials
Potash materials
Imports:
Ammonium nitrate
Ammonium sulfate
Potassium chloride
Sodium nitrate
__ _ -
_do
do
_.do
do
.
Potash deliveries (KjO) _.
do. _
Superphosphate and other phosphatic fertilizers
(100%P 2 0 5 ):
Production
thous. sh. tons
Stocks, end of period _.
do
368
914
141
r
125
959
93
1,110
9
2
235
15
1,278
1,550
1,414
1,148
1,086
78
61
977
87
106
840
51
19
9
393
19
25
16
336
16
22
17
377
9
46
30
514
1
59
37
579
1
57
16
397
6
15
12
218
21
10
6
164
16
10
15
304
13
453
634
331
401
631
621
416
206
159
353
347
429
393
448
336
468
356
422
393
359
408
276
381
264
364
351
'330
455
347
431
93
1,039
106
107
704
93
16
5
328
14
13
14
491
18
15
16
364
6
211
325
507
316
460
354
440
379
427
108
122
57
1,079
140
103
r
MISCELLANEOUS PRODUCTS
Sulfur, native (Frasch) and recovered:
Production
thous. Ig. tons_Stocks (producers'), end of period.. _ __ ...do
496.6
390.9
512.5
475.3
179 9
85.0
95.0
179 0
85.9
93 1
197 6
102 8
94 8
241.6
130.4
111.2
236 3
131.7
104 6
755
746
3,461
730
3,530
660
3 401
3 604
721
3,657
43.8
55 6
87.9
55 7
44 3
49 4
85.2
54 8
45
49
90
52
47.7
58 2
93.0
53.8
12 0
27 7
255'. 1
283 2
441 8
251 2
142. 9
108.3
r 281 3
r 162. 1
r 119.2
256 0
152.7
103 2
683
720
3 642
3,714
671
3,738
717
3,689
53.9
57 9
100.6
54 9
49 2
59 5
89.3
54 7
58 0
54 5
85.7
54 6
55 3
49 1
74.1
44 7
13 3
12 8
12 5
11 0
10 4
25 1
269.2
316.7
472 2
27 4
276.2
338 2
484 6
96 9
288. 2
330 2
501 1
25 6
299. 1
325 3
505 3
25 3
272.5
298.4
503 2
PLASTICS AND RESIN MATERIALS
Production:
Therm osetting resins:
Alkyd resins
Polyester resins _
Phenolic and other tar acid resins
Urea and melamine resins
mil. Ib
do
do
do
Thermoplastic resins:
Cellulose plastic materials
do
Coumarone-indene and petroleum polymer
resins
mil. Ib
Styrene-type materials (polystvrene)
do
Vinyl resins (resin content basis) __
_ do
Polyethylene.
__ _.
. do
U87.3
5
7
5
8
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total t
mil. kw.-hr__ 1,436,029 1,552,299 142, 630 128, 515 129, 414 125, 601 136, 786 141, 110 124, 678 132, 333 126, 528 130, 470 137, 155 149, 700
Electric utilities, total
By fuels
By waterpower
_ _
.
Privately and municipally owned util
Other producers (publicly owned)
Industrial establishments, total
By fuels
By waterpower
_..
r
do
_do
do
do
do
do
do
do
1,329,443 1,441,939 133,319 119, 469 119, 980 116, 465 127, 357 131, 732 116,010 123, 051 117, 443 121, 197 128, 082 140, 633
1,106,952 1,191,861 112,485 101, 164 101, 040 96, 941 106, 027 109, 474 95, 973 100, 978 95, 722 99, 394 106, 906 119, 724
222, 491 250,078 20, 834 18, 304 18, 940 19, 524 21,330 22, 258 20, 037 22, 073 21, 721 21, 803 21, 176 20, 909
1,083,117 1,171,693 108, 870
246, 326
270,247 24, 449
106, 586
103, 203
3,383
110,360
107,076
3,283
9,311
9,050
261
97, 968
21, 501
98, 711
21, 269
9,046
8,813
233
9,434
9,184
250
Revised.
Revised annual total; revisions are not distributed to the monthly data.
d*Data are reported on the basis of 100 percent content of the specified material unless
1
94, 736 103, 589 107,213
21, 729 23, 768 24,519
94, 335
21, 675
99, 877
23, 174
96, 192
21, 250
9, 429
9,144
285
8,668
8,367
301
9, 283
8,978
305
9, 085
8,765
320
9,137
8,869
267
9, 378
9, 070
307
98, 722 104, 606 115,291
22, 475 23, 477 25, 342
9,274
8,961
312
9, 072
8,806
267
otherwise indicated.
9 Includes data not shown separately,
t Revised data for the months of 1968 will be shown later.
9, 067
8,825
242
130
74
Sept.
SURVEY OF CURRENT BUSINESS
S-26
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
1968
1969
Aug.
Annual
October 1970
Sept.
Oct.
1970
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) ''nil kw -hr 1,202,321 1,307,178 118, 124 117, 375 110, 128 106,862 111, 506 116, 941 113, 452 111, 774 109, 247 108, 692 113, 876
Commercial and industrial:
1
265, 151 286, 686 27, 370 27, 282 24, 619 23, 232 23, 651 24,464 23, 982 23,609 23,564 24, 339 26, 588
Small light and power§
do
i 518,834 557, 221 48, 022 48, 257 48, 418 47, 080 47, 190 46,096 45, 583 47,041 47, 030 47, 970 49, 231
Large light and power §
do
443
341
453
415
384
379
403
376
365
363
1 4, 540
4,531
348
Railways and railroads
do
^367,692 407, 922 38, 103 37, 149 32, 335 31, 823 35, 759 41,404 39,068 36, 307 34, 007 31, 745 33, 302
Residential or domestic
do
1,032
1,044
964
938
891
839
821
878
988
817
948
10 772
ilO 302
Street and highway lighting
do
3,079
3,005 3,032 3,182
3,073 3,078 3,075 3,007 3,063 3,122 3,087
35, 861
Other public authorities
do _ »32,162
369
386
374
352
391
369
357
365
383
393
1 3, 640
4,186
385
Interdepartmental
do
Revenue from sales to ultimate customers (Edison
Electric Institute)
mil $ 18, 579. 9 20, 139. 3 1, 830. 9 1, 825. 1 1, 705. 8 1, 653. 8 1, 715. 1 1, 798. 8 1, 757. 5 1, 721. 0 1, 697. 8 1, 708. 8 1, 795. 7
GAS
Manufactured and mixed gas:
579
543
36
575
538
36
567
531
35
575
538
36
576
534
41
mil therms
do
do
1 466
825
617
1 519
825
667
179
64
114
408
216
184
644
398
233
Revenue from sales to consumers total 9 mil $
Residential
do
129 0
81.4
45 9
130 6
80.3
48 1
16.1
7.9
8.0
34.6
20.9
13.1
54.3
36.0
17.4
39 950
36 672
3 231
40 769
37 413
3 307
39, 876
36,681
3,148
40, 769
37, 413
3,307
41, 338
37, 938
3,355
143, 521 154, 430
44 701 47 12Q
91 519
92 594
29,483
4,067
23,948
39, 339
11, 905
25 936
54,236
22,528
30, 192
8 644 9 9 406 6
4 476 8 4, 800. 1
3 946 4 4 389 6
1 481 4
542.0
891.4
2 453 2
1,241.5
1, 152. 9
3, 732. 0
2, 175. 8
1, 486. 5
Residential
do
Sales to consumers total?
Residential
Industrial and commercial
Natural gas:
Customers end of period total 9
thous
Industrial and commercial
do
Sales to consumers total 9
Residential
mil therms
do
Residential
Industrial and commercial
do
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 ^al
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
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
122. 41
111 42
11.56
127. 32
116.27
11.90
11.98
11.44
13.12
11.61
10.80
13.05
10.81
10.14
12.81
8.54
8.28
12.38
9.62
9.24
11.90
9.56
8.47
12.43
9.31
8.04
12.99
11.84
10.35
13.46
12.44
10.66
14.12
12.45
11.45
14.20
13.40
11.90
14.69
12.38
11.87
14.18
229 34
20.55
20.28
21.26
20.11
18.16
16.29
12.89
12 01
17.70
22 75
19.84
20.87
i 361
164
991
87
67
55
42
08
28 41
13 90
979. 91
5.81
27 79
15.19
979. 24
6.73
33 03
17 82
981 02
11.47
33 66
14 17
983.86
9.03
42.64
12.19
991. 42
10.84
28.30
29.92
29 30
25 07
30.98
25.71
14.72
13.23
11.32
14.83
12.40
16.10
11.05
998. 08 1.002.98 1,005.66 1,008.95 1,010.84 1,012.99 1, 013. 73
6.28
7.29
5.46
7.03
7.55
5.66
6.89
169
108
938
74
87
01
46
29
7.71
8.38
931. 47
5.10
12.22
10.14
930. 50
5.89
16.03
12.80
930. 93
10 29
14.00
9.80
932.35
7 97
15.36
8.06
938.46
7.30
15.30
8.10
944.66
4.67
14.96
8.27
949. 15
4.83
15.69
10.64
951.64
6.66
15.21
9.88
955. 47
6.22
12.85
7.79
959.53
5.49
10.15
8.76
959. 73
6.34
9.12
6.72
961. 12
5.96
110 56 r H6 49
66 71
68 02
9 09
5.27
10.04
5.87
11.90
7.10
8 99
5.15
8 17
4.27
8.11
4.22
8.44
4.86
11.07
6.58
10.85
6.57
8.15
4.36
9.16
4.71
7.65
4.27
1.40
1.19
6.77
.14
1.16
1.30
6.65
.15
1 70
1.83
6 40
.31
1 67
1.55
6 45
.29
1 97
2.04
6 19
.27
1.81
1.81
6.48
.11
1.71
1.27
6.82
.10
2.06
1.64
7.15
.12
2.02
1.27
7.80
.15
1.80
1.37
8.10
.14
1.75
1.56
8.15
.13
1.41
1.24
8.27
.09
.10
2.13
238 33
1344 07
147 63
956 44
75.45
178
95
904
66
12
10
5
2
05
28
35
50
17
29
26
23
r
15 80
13 86
6 19
2 41
5.97
5.15
222 89
181 52
268 28
19.98
277
197
306
22
81
23
36
28
8.03
16.88
158.76
1.71
57.81
16.46
193. 87
1.75
126. 45
19.31
293 13
2.33
55.85
16 01
326 97
2.50
9.49
17.90
306 36
2.65
4.08
18.44
290 91
1.76
3.87
16.36
274 56
1.65
4.60
20.64
256.07
2.23
2.98
16.76
240.99
2.24
3.47
15.10
226.63
2.42
2.50
17.44
207 10
2.37
3.15
14.44
196 38
2.20
do
373 08
403 32
19 67
118.03
161 97
52 16
25 52
7 62
6 55
6.34
2.85
2.15
1 29
4 45
mil. Ib
do
$ per Ib
1, 164. 8
117.4
.678
1, 121. 1
88.6
685
77.1
185.6
.688
67.7
155.3
.704
76.7
125.2
.693
71.4
104.3
687
90.3
88.6
.696
99.9
77.4
.686
93.0
81.3
.687
105.6
91.6
.688
109.1
114.3
.707
116.7
147.0
.708
112.4
186.0
.707
92.5
203.5
.708
81.1
'199.2
.708
1 938 2 1 985 9
1 273 8 1 266 4
167.3
110.2
155.0
96.2
153.4
91.9
146 1
85.4
168.1
100.9
168.5
107.6
160.2
103.0
187.4
120.4
194.4
130.9
215.6
149.3
215.4
150.0
199.3
136.6
181.5
120.6
317.5
265 4
130 0
386.2
325 9
9 6
369.5
309.0
12 5
350.9
294.6
14 3
328.7
274 8
39
317.5
265.4
20 8
298.0
249.6
10 9
285.7
238.0
10.8
286.2
238.9
16.0
308.9
257.7
11.5
335.8
281.0
9.4
370.3
315.2
10.9
384.3
325.9
10.8
-366.8
'308.9
11.8
.603
.606
.608
.548
» Annual total reflects revisions not distributed to the monthly data.
.621
Distilling materials produced at wineries
DAIRY PRODUCTS
Butter, creamery:
Production (factory)
_
Stocks, cold storage, end of period
Price, wholesale, 92-score (N.Y.)
Cheese:
Production (factory), total
American, whole milk
mil Ib
do
Stocks, cold storage, end of period
do
American, whole milk
do
Imports
do
Price, wholesale, American, single daisies (Chicago)
$ per lb_.
p
Revised.
381.0
318 7
168 2
173.5
.713
351.2
290.0
.640
.632
.636
.634
.646
.659
.636
.663
.647
.630
.636
§ Data are not wholly comparable on a year to year basis because of changes from one classification to another.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
October 1970
Unless otherwise stated in footnotes below, data
through 1988 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
1968
S-27
1969
Annual
Sept.
Aug.
1970
Oct.
Nov.
Dec.
Jan.
Feb.
May
Apr.
Mar.
June
July
Aug.
(6)
(6)
Sept.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS— Continued
Condensed and evaporated milk:
Production, case goods:
87.4
84.9
Condensed (sweetened)
mil. Ib
1,360.0 1, 413. 8
Evaporated (unsweetened)
- do
Stocks, manufacturers', case goods, end of period:
1.9
2.1
Condensed (sweetened)
mil. Ib
105.0
99.1
Evaporated (unsweetened)
_- - do
Exports:
52.1
42.4
Condensed (sweetened)
do
37.1
33.7
Evaporated (unsweetened) .
do__ _
Price, manufacturers' average selling:
7.50
7.26
Evaporated (unsweetened)
$ per case _
Fluid milk:
117, 234 116, 200
Production on farms
mil. Ib
Utilization in mfd dairy products
do _ ' 57, 997 ' 57, 167
5.49
5.24
Price wholesale U S average
$ per 100 Ib
Dry milk:
Production:
66.1
79.8
Dry whole milk
mil. Ib
1, 594. 4 1, 431. 7
Nonfat dry milk" (human food) _
do
Stocks, manufacturers', end of period:
6.6
7.6
Dry whole milk
do
83.9
79.0
Nonfat dry milk (human food) .
__ do _
Exports:
15.6
18.6
Dry whole milk
do
111.6
151.0
Nonfat dry milk (human food).
_ _ do
Price, manufacturers' average selling, nonfat dry
.235
.224
milk (human food)
$ per lb_.
7.3
8.5
135.4
101.3
3.9
r
3.0
8.9
5.9
93.5
3.9
83.6
108.5
211.2
194.6
3.0
2.2
147.7
113.6
19
105.0
4.0
2.0
8.2
2.8
6.9
4.2
4.4
3.4
2 4
7.51
7.51
7.53
7.59
9,673
4, 802
5.39
4.9
112.0
r
9,165
4, 138
5.68
r
4.5
102 1
57
90 9
(8)
6
(8)
6
(6)
(6)
96.2
6 107 2
9
• 133. 4
(6)
(61
6
(8)
(8)
114. 0
6
(8)
(6)
6
136. 5
6
117 5 6 103 1
(6)
(8)
85. 1
e 88 4
(i)
3.2
2 3
(i)
4.4
(0
3.6
(i)
2 3
18
2 5
31
7.62
7.75
7.76
7 77
7.85
7.96
8.04
8.11
8.06
8,691
3 670
5 92
9 170
r 4 306
5 89
9 412
4 649
5 81
8 840
4 543
5 69
10 053
5' 287
5 55
10 330
5 524
5 51
11 019
6 067
5 39
10 750
e'i4o
5 33
10 162
5 583
5 45
9 732
5 013
r 5 57
4 6
79.0
5 2
72 0
5 2
101 5
51
102 5
4 7
106 8
6 1
132 2
61
148 4
7 2
185 7
73
179 9
6 5
152 3
58
124 5
6 6
83 9
58
81 1
56
81 8
4 7
80 6
51
101 4
66
138 7
80
159 0
9 3
154 o
9 4
165 5
9,138
4 068
5 85
83.1
(6)
6
r
6
(1)
1
79. 6
130. 2 8 173 2 * 192 7 6 195 9
o
(i)
8.2
7.1
150.9
130.5
6 7
107 9
5 7
90 2
1.4
5.0
1.3
6.4
12
88
5
7
38
29 2
14
14 2
10
10 7
10
9 0
6
7
7 4
15
25 7
7
10 4
14 2
19 9
34 1
.234
.236
.236
.237
.237
.238
236
237
.262
.269
.276
.273
.2713
90.3
102.2
103.6
123.6
100 8
97 6
107 1
93 9
100.7
104.6
102.5
117.4
111.5
9 250
5 79
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats rye, wheat),., .mil. bu._ 1, 267. 4
Barley:
Production (crop estimate)
Stocks (domestic), end of period
Off farms
Exports including malt§
Prices, wholesale (Minneapolis):
No. 2, malting
No. 3 straight
do
__do_ .
do
do
2 423. 0
371.6
247 7
123 9
17.8
2 417. 2
420.1
258 0
162 1
8.3
.1
4
.7
.3
.2
.1
.2
1.18
1.18
1.12
1.12
1.00
1.00
1.06
1.06
1.08
1.08
1.08
1.07
1.08
1.07
1.06
1.06
1.06
1.06
4 393
2 4 578
4 233
3 276
'957
594 0
4 313
3 320
54.8
3 i 113
3 728
3 385
64 5
$ per bu__
do
Corn:
2
On farms
do
Off farms
do
Exports including meal and
flour
do
Prices, wholesale:
No. 3, yellow (Chicago),
$ per bu.
Weighted avg., 5 markets, all grades
do
1,059.0
993
553 5
420.1
258.0
162.1
497.4
306 6
190 8
mil bu
do
do
do
2 939
2 950
784
661
123
884
723
161
Exports including oatmeal
do
Price, wholesale, No. 2, white (Chicago)
$ per bu
11 6
76
.7
7
<.72
«.67
.61
.62
2 104. 1
2 91 3
2 020
1 376
2 012
1 515
67
43
209
87
336
312
270
73
127
7 086
r 6 605
4 818
r gig
4 774
2 013
4 163
1 695
4 183
085
681
291
084
31 4
29 9
1.17
1.06
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
087
Rye:
Production (crop estimate)
mil bu
2 23 4
Stocks (domestic) end of period
do
24 3
Price, wholesale, No. 2 (Minneapolis) _ _ $ per bu-_ * 1. 14
Wheat:
Production (crop estimate) total
Spring wheat
Winter wheat
Distribution
Stocks (domestic) end of period total
On farms
Off farms
T
3
mil bu
do
do
do
do
do
do
2 1 576
2 341
2 i 235
1 444
1 346
581
764
2
1.28
1.22
1.16
1.17
1.19
1.15
79 6
1.15
1.12
48 6
.1
.1
6.5
7.8
8.3
8.1
1.07
1.07
1.10
1.09
1.15
1.15
1.16
1.16
1.11
1.12
1.14
1.14
768
1.15
1.12
40.2
1.22
1.19
50.3
1.23
1.22
520
44.3
40.0
50.0
40.0
58.7
43.9
1.22
1.21
1.26
1.25
1.30
1.29
1.34
1.32
1.38
1.32
1.47
'1.40
1.50
1.46
7891
194
7
4
4
3489
3345
3145
3
1.0
.5
71
.9
.4
.5
.5
.5
.67
.68
.66
.67
.72
.76
785.0
333
59
36
44
79
47
63
60
87
67
78
63
127
39
244
171
281
258
303
302
161
130
284
266
270
250
241
228
280
136
249
188
184
1 636
1,687
538
602
450
424
461
326
406
280
374
330
373
269
423
110
335
44
220
95
291
1,049
438
1 410
1,894
1,862
1,695
1,508
1,322
1,176
254
085
.086
.085
.085
.085
504
499
318
371
745
231
.085
717
366
.086
.086
931
188
.085
38 3
1.07
1.12
1.13
29.9
1.14
1.15
1.16
24.6
1.18
1.18
1.20
3 21.3
1.18
1.05
1.08
375
349
362
235
337
306
407
340
338
315
1 531
*608
1 870
1,531
1,195
923
1,119
3880
3305
3575
752
608
923
454
741
267
736.2
2
1 459
2 311
2 1 148
1 275
1.19
1.18
1,923
1,403
673
529
144
884
723
161
1 023
*830
2
Revised.
i Less than 50 thousand pounds.
Crop estimate for the year.
Old crop only; new crop not reported until beginning of new crop year (July for barley,
oats, rye, and wheat; Oct. for corn).
« Average for 11 months; no price for Nov.
232. 1
3 132. 1
3100.0
2 989
2 222
993
55 3
1.21
1.19
Rice:
7 410. 3
3
M,188
4 313
3 320
1.11
1.11
Oats:
Production (crop estimate)
Stocks (domestic) end of period total
On farms
Off farms
326.4
192.8
133.6
1.10
7 1 360
7251
71,109
5
Average for Jan.-Sept. 6 Condensed milk reported with evaporated to avoid disclosing
operations of individual firms. 7 October 1 astimate of 1970 crop.
§ Excludes pearl barley.
9 Bags of 100 Ibs.
October 1970
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
Annual
1970
1969
1969
Aug.
Sept.
Oct.
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 includin" 1 flour
Wheat only
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
642.1
587.8
489.2
439.9
34.5
32.4
36.5
32.9
46.9
40.5
43.2
38.4
51.6
48.1
56.9
51.7
55.6
51.4
49.0
44.6
59.7
54.4
47.6
43.4
54.2
48.3
49.9
47.9
59.0
56.3
1.79
1.52
1.77
1.80
1.48
1.75
1.73
1.44
1.66
1.79
1.48
1.72
1.82
1.53
1.75
1.83
1.52
1.76
1.88
1.52
1.78
1.86
1.53
1.75
1.93
1.53
1.72
1.88
1.49
1.73
1.91
1.54
1.75
1.89
1.53
1.75
1.93
1.45
1.76
1.92
1.42
1.71
1.86
1.54
1.80
254, 094
4,558
567, 956
21,455
377
47, 974
22, 201
387
49, 519
23, 357
407
51, 894
22, 170
385
49, 344
23, 068
402
51, 348
21,960
383
48,905
21,015
357
47, 424
21,347
372
47, 089
20, 756
352
45, 834
19,826
347
44,500
Wheat flour:
Production:
254, 185
Flour
thous sacks (100 Ib )
Offal
thous sh tons
4,510
569, 649
Grinding^ of wheat
thous bu
Stocks held by mills, end of period
thous. sacks (100 lb.).4,638
23, 264
Exports
do
Prices, wholesale:
Spring, standard patent (Minneapolis)
5.927
$per 100 l b _ .
Winter, hard, 95% patent (Kans. C i t y ) _ _ d o
5.449
4,595 """919"
21, 130
4,391
1,534
2,75i ~~2,~ 052*
4,595
1,499 ~~27232~
1,726
4,237
1,860
2,238
1,837
1.93
1.62
1.87
19,892 ' 19, 991 21, 393
372
350
353
44,126 ' 44, 700 47, 463
4,223
2,523
863
1,164
5.923
5.438
6.025
5.488
5.913
5.413
5.950
5.488
5.988
5.475
6.000
5.488
6.000
5.513
6.063
5.538
6.088
5.525
6.100
5.513
6.075
5.513
3,637
30, 536
1 12, 715
271
2,608
957
308
2,724
1,203
329
2,887
1,380
281
2,368
1,130
302
2,568
1,052
290
2,653
965
239
2,318
850
290
2,477
983
263
2,545
927
220
2,493
990
210
2,615
997
231
2,642
927
232
2,538
971
1,010
30.48
29.30
37.29
30.97
29.20
34.00
29.85
28.37
34.00
29.10
28.81
34.00
28.71
29.30
35.00
28.86
29.55
37.50
29.25
29.44
38.00
30.25
31.31
38.00
31.92
33.36
43.50
31.53
32.40
42.50
30.36
31.36
42.00
30.61
30.84
31.35
29.52
30.74
28.76
30.76
28.99
75, 682
115,415
5,708
1,095
6,611
1,266
7,100
1,374
5,825
1,146
6,344
1,276
6,170
1,166
5,570
1,003
6,415
1,182
6,678
1,253
5,877
1,156
5,685
1,153
5,774
1,106
6,045
1,088
1,303
23.65
26.95
25.98
25. 49
25.79
26.86
27.52
28.23
25.89
24.05
23.28
23.87
23.57
21.12
20.43
20.4
22.9
21.7
22.1
23.4
23.6
23.5
24.0
22.7
20.7
19.4
19.2
19.3
17.1
14.3
10, 070
i 2, 704
797
230
915
291
730
218
798
213
855
193
742
139
859
169
903
161
795
185
841
242
829
230
789
225
244
26.58
28.53
28.62
27.75
28.38
27.50
27.50
28.88
28.75
28.75
26.00
29.00
29.50
28.38
27.12
26.75
32, 714
33, 370
2,650
2,917
3,170
2,617
2,872
2,892
2,537
2,821
2,920
2,737
2,770
2,771
2,731
815
42
112
728
41
148
671
31
171
'607
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
thous animals
3,876
Cattle
do
29 592
Receipts at 38 public markets
_ _ __ _do ... i 11,699
Prices, wholesale:
Beef steers (Chicago) _ _ _ _ _ _
$ per 100 Ib - 27.65
Steers, stocker and feeder (Kansas City) . .do
25.89
33.83
Calves, vealers (Natl. Stockyards, 111.). .do
Hogs:
Slaughter (federally inspected)., thous. animals.. 74, 789
Receipts at 38 public markets
do
i 15, 932
Prices:
Wholesale, average, all grades (Sioux City)*
$per 1001b._
19.08
Hog- corn price ratio (bu. of corn equal in value
to 100 Ib. live hog)
18.0
Sheep and lambs:
Slaughter (federally inspected). ..thous. animals.Receipts at 38 public markets _
do
Price, wholesale, lambs, average (Omaha)*
$per lOOlb.-
10, 888
i 2, 934
931
303
MEATS AND LARD
Total meats:
Production (carcass weight, leaf lard in), inspected
slaughter
mil. lb._
Stocks (excluding lard), cold storage, end of
period _
_
mil. Ib
Tmnorts fmpit ind mp t
t'
}~
c\
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 l b _ _
Fresh loins, 8-14 Ib. average (New York) ..do
Lard:
Production, inspected slaughter
mil. lb._
Stocks, dry and cold storage, end of period__do
Exports
do _ .
Price, wholesale, refined (Chicago)
$ per lb_.
637
571
1,685
513
40
188
550
47
174
612
62
165
635
51
100
637
43
122
659
31
173
721
32
155
743
33
175
18, 270
304
29
1,129
18, 874
363
28
1,194
1,570
273
2
148
1,678
311
2
131
1,805
342
2
120
1,478
343
2
62
1,632
363
2
81
1,696
378
3
135
1,460
401
2
108
1,594
390
3
123
1,616
380
3
94
1,580
363
3
70
1,643
327
3
99
1,644
317
3
122
1,582
'300
2
129
.492
.498
.478
.460
.457
.468
.488
.487
.512
.506
.488
.499
.517
.505
545
14
510
16
38
15
45
16
47
17
37
17
42
16
45
17
40
18
47
22
48
21
41
19
42
20
41
23
39
'23
13, 899
13, 989
1,041
1,195
1,318
1,102
1,199
1,151
1,011
1,180
1,255
1,116
1,085
1,086
1,111
11, 330
256
92
324
11,563
211
152
316
860
168
7
21
982
174
11
24
1,089
202
20
27
906
221
13
23
998
211
5
27
951
210
4
19
844
237
4
33
985
269
4
33
1,045
329
4
32
936
351
4
29
897
304
4
32
905
255
5
32
924
'217
5
24
.537
.509
.580
.575
.614
.609
.592
.616
.625
.608
.628
.622
.674
.614
.679
.657
.681
.626
.677
.578
.566
.562
.566
.581
.623
.647
.572
142
48
42
.170
145
70
13
.169
144
65
25
.159
121
62
38
.159
139
67
37
.185
153
75
13
.165.
130
65
30
.160
136
65
19
132
-66
38
135
54
37
812
840
761
653
742
786
780
921
'999
390
284
307
192
272
162
250
133
223
101
208
82
214
74
250
95
322
157
' 411
'240
514
341
.120
.130
.140
.135
.125
.140 '
.120
.130
l.c.l. b asis as p Deviously
*Ne w series. Monthly data for earlier jrears wil I be show n later.
.125
.120
.120
.473
1,862
94
175
.112
2
1,755
70
262
.145
131
55
23
.150
154
56
22
.148
167
58
30
.165
POULTRY AND EGGS
Poultry:
897
Slaughter (commercial production)
mil. Ib _
9,492
949
1,048
8,915
Stocks, cold storage (frozen) , end of period, total
324
423
539
307
mil. lb_.
417
Turkeys
.
do
237
329
192
436
317
Price, in Georgia producing area, live broilers
. 145
.155
.135
.140
$ perlb..
.131
r
Revised.
i Annual total reflects revisions not distributed to t_le months ; reseipts o ata for 1. 68 represent
receipts at 28 public markets.
2 Beginning Jan. 1969, quota tions are on carlol rather tllan
592
625
508
1,594
811
37
143
43
167
298
.488
21
214
.560
984
SURVEY OF CURRENT BUSINESS
October 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
S-29
1969
1969
Annual
Aug.
Sept.
Oct.
1970
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
FOOD AND KINDRED PRODUCTS; TOBACCO— Continued
POULTRY AND EGGS— Continued
Eggs:
Production on farms
mil. casesGLStocks ,cold storage, end of period:
Shell
thous. casesO..
Frozen.
_
_
mil. Ib
Price, wholesale, large (delivered; Chicago)
$ per doz__
192.5
191.5
15.9
15.3
15.9
15.6
16.3
16.3
14.8
16.8
16.4
16.8
15.9
16.2
16.1
15.6
59
72
51
43
120
64
85
56
45
55
64
50
51
43
46
41
79
40
83
41
61
43
111
48
157
56
147
60
'98
63
180
59
.372
.460
.433
.488
.471
.595
.627
.610
.515
.480
.374
.330
.359
.415
.400
.455
Cocoa (cacao) beans:
Imports (incl. shells)
thous. Ig. tons..
Price, wholesale, Accra (New York)
$ per lb._
228.2
.344
218.4
.458
21.6
.469
6.3
.444
12.5
.461
18.8
.500
30.7
.458
36.8
.395
23.9
.340
22.6
.336
24.0
.326
21.9
.286
15.8
.300
24.1
.310
21.3
.388
.378
Coffee (green):
Inventories (roasters', importers', dealers'), end
of period
thous bagsd"
Roastings (green weight)
do
5,076
21, 165
3,811
20, 851
Imports, total
From Brazil
._.
Price, wholesale, Santos, No. 4 (N.Y.)..$
Confectionery, manufacturers' sales
do
do
per l b _ _
mil. $._
25, 377
8,318
.376
1,756
20, 232
5,780
.408
1,848
1,476
329
.390
138
1,778
459
.410
204
2,327
539
.478
197
2,167
706
.490
183
1,675
400
.485
156
1,783
482
.548
159
1,841
562
.548
177
1,716
323
.543
165
1,639
333
.538
129
1,644
323
.538
124
1,891
595
1,550
357
1,616
468
'130
114
139
mil. lb__
285
275
253
268
263
269
275
256
221
196
192
201
229
263
'298
Sugar (United States):
Deliveries and supply (raw basis) :§
Production and receipts:
Production
thous. sh. tons..
Entries from off-shore, total 9
do
Hawaii and Puerto Rico
do
4,395
6,680
1,707
4,298
6,350
1,501
95
601
171
153
576
235
653
538
144
1,036
404
141
795
436
43
647
935
41
419
158
99
169
399
95
150
645
155
128
530
148
74
103
155
111
1,113
64
693
144
11,089
10, 927
2,961
10, 804
10, 655
2,796
1,058
1,698
1,077
1, 062
1,396
928
' 914
1, 625
806
798
2,307
929
919
2,796
826
815
2,858
795
783
2,827
944
'938
2,671
880
868
2,636
948
937
2,424
1,049
1,037
2,103
1,023
1,012
1,726
pl,324
sh. tons_.
1,320
968
69
57
120
50
68
133
2,728
4,045
217
136
44
37
58
thous. sh. tons__
_ do
do
4,879
1,075
117
4,776
1,024
124
416
95
13
328
71
6
423
42
385
23
2
506
130
67
289
165
0)
263
4
2
396
111
2
600
135
9
358
95
1
515
120
1
454
137
2
534
196
2
.078
.078
.078
.079
.078
.076
.081
.080
.079
.079
.082
.082
.082
.082
.638
.107
.646
.108
.647
.108
.643
.109
.645
.109
.646
.109
.652
.111
.662
.109
.671
.109
.669
.109
.671
.109
.677
.680
.682
155, 335
139, 962
8,892
13, 760
11,141
13, 593
11, 773
10, 826
10, 264
15, 285
12, 767
11,503
10, 972
8,940
8,778
3,311.9
142.7
3, 480. 5
138.7
281.7
128.2
294.5
116.3
341.9
113.1
321.6
116.0
309.0
138.7
295.0
120.0
302.2
114.0
314.5
114.7
303.1
140.8
294.6
134.2
293.8
155.4
'256.9
' 150. 1
306.6
136.2
2, 995. 9
79.4
3, 143. 7
70.5
242.8
60.2
254.3
60.2
268.4
53.0
274.9
63.3
279.4
70.5
263.7
76.4
263.6
77.3
293.9
68.8
285.4
83.6
276.1
93.4
314.5
87.5
r 279. 2
'99.7
266.6
88.7
2, 140. 9
49.1
2, 181. 9
52.1
162.6
51.0
187.2
50.1
209.8
54.4
179.2
53.8
207.0
52.1
202.5
48.5
198.4
60.6
190.3
57.7
169.4
59.4
157.9
52.5
181.1
65.4
' 169. 7
' 59.4
166.7
54.6
.256
.260
.257
.257
.265
.272
.272
.272
.272
.282
290
.290
539.1
517.3
49.6
534.6
510.9
45.9
43.1
43.3
27.8
44.4
43.0
25.6
49.5
48.0
26.0
48.7
41.3
34.5
49.3
35.2
45.9
49.9
40.9
46.0
47.7
50.6
49.0
46.7
51.7
43.8
48.0
48.4
40.0
46.7
51.8
37.3
46.0
49.6
36.2
'44.3
'43.3
'35.2
48.1
47.3
29.3
4, 745. 2
2, 478. 0
358.5
4,655. 0
2, 595. 3
348.0
374.3
208.1
290.4
383.2
220.5
303.6
432.9
238.1
330.8
393.8
211.0
353.7
398.3
208. 2
348.0
420. 4
209.4
416.8
378.4
202.6
429.9
392.0
208.2
370.0
407.1
220.5
365.8
392.1
215.6
338.7
395.8
226.5
319. 8
' 410. 6
' 213. 0
' 333. 7
389.3
199.4
326.1
170.8
69.9
155.8
171.6
75.6
84.0
31.4
5.8
126.0
28.2
7.2
131.4
14.0
6.6
148.2
8.2
6.8
104.6
4.7
6.9
84.0
.7
7.1
90.8
.5
6.0
79.7
.7
5.3
66.1
3.1
5.9
74.0
22.3
6.1
74.1
38.2
6.6
114.9
'40.0
5.8
' 127. 8
36.2
5.0
152.6
mil. lb_.
do
do
do
do
392.1
548.7
730.7
197.1
442.8
386.3
547.5
732.6
205.9
424.6
35.4
48.5
59.4
139.8
28.3
35.8
47.8
65.1
131.4
18.4
38.2
46.2
67.7
152.2
28.7
35.3
42.7
58.3
172.7
21.2
38.0
44.3
61.2
205.9
7.2
25.6
44.3
55.1
200.4
146.5
26.2
42.8
64.7
139.5
49.4
14.2
44.4
63.4
138.3
30.3
19.1
48.5
71.1
122.1
18.4
(d)
41.1
63.1
122.9
51.7
(d)
51.7
66.7
134.0
76.1
(")
'43.0
' 55.6
' 114. 0
47.6
(d)
43.9
61.0
116.6
46.9
do
do
do
do .
452.8
429.6
439.6
40.5
465.5
438.1
442.2
54 1
38.5
34.1
35.5
39.2
37.1
37.7
41.2
36.2
42.0
64 Q
37.9
44.2
41.1
38.0
39.0
39.7
54 1
36.9
34.6
37.3
38.6
34.9
36.0
57 3
43.9
41.5
39.9
59 Q
42.1
32.6
31.4
fi« 7
44.5
35.9
34.2
41.3
38.9
39.9
67.9
'38.5
34.3
'37.5
'68.1
36.9
35.3
35.0
63.2
MISCELLANEOUS FOOD PRODUCTS
Fish:
Stocks, cold storage, end of period
Deliveries, total 9 .
For domestic consumption
Stocks, raw and ref., end of period
Exports, raw and refined
Imports:
Raw sugar, tota!9
From the Philippines
Refined sugar, total
do
do
do
Prices (New York):
Raw, wholesale
$ per lb_.
.075
Refined*.
Retail (incl. N.E. New Jersey)- — ! per 5 lb__ .624
Wholesale (excl. excise tax) . _
_ _$ per lb. _
.101
Tea Imports
thous. lb._
3.361
4,780
r
1,047
3,334
5,390
3,811
5,621
0)
3,437
5,143
r
309
.081
FATS, OILS, AND RELATED PRODUCTS
Baking or frying fats (Incl. shortening):
Production
mil. lb._
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)
$ per lb._
Animal and fish fats:A
Tallow, edible:
Production (quantities rendered)mil. lb._
Consumption in end products
do
Stocks, end of period 1
do
Tallow and grease (except wool), inedible:
Production (quantities rendered)
do
Consumption in end products
do
Stocks, end of period f _
do
Fish and marine mammal oils:
Production
do
Consumption in end products
do
Stocks, end of period 5.
do
Vegetable oils and related products:
Coconut oil:
Production: Crude
Refined
Consumption in end products
Stocks, crude and ref., end of period f
Imports
Corn oil:
Production: Crude _.
Refined
Consumption in end products
Stocks, crude and ref.. end of npriodf
r
70.4
70 7
d
Revised.
r> Preliminary.
Data withheld to avoid disclosure of operations of individual firms. i Less than 500 short tons.
OCases of 30 dozen.
cTBags of 132.276 lb.
§ Monthly data reflect cumulative revisions
59 7
50 Q
74 2
for prior periods.
9 Includes data not shown separately: see also note " §".
AFor data
on lard, see p. S-28.
©Producers' and warehouse stocks.
^Factory ami warehouse
stocks.
SURVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
| 1969
Annual
October 1970
1969
Aug.
Sept.
Oct.
1970
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
Refined
do
Consumption in end products
.
do
Stocks, crude and refined (factory and warehouse), end of period
mil. Ib
Exports (crude and refined)
do
Price, wholesale (drums; N.Y )
$ per Ib
Linseed oil:
Production, crude (raw)
mil. Ib
Consumption in end products
do
Stocks, crude and refined (factory and warehouse) , end of period
mil. Ib
Price, wholesale (Minneapolis)
$ per Ib
Soybean cake and meal:
Production
thous. sh tons
Stocks (at oil mills), end of period
do _
Soybean oil:
Production: Crude
mil Ib
Refined _ _ _ _ _ _
_do
Consumption in end products
do
Stocks, crude and refined (factory and warehouse), end of period...
_mil. Ib
Exports (crude and refined)
do
Price, wholesale (refined; N.Y.) _
$ per Ib
1, 574. 9
135.1
2, 001. 9
74.9
57.0
99.2
74.9
64.9
221.5
61.4
229.9
79.0
240.0
74.9
232.0
83.6
213.4
108.6
197.7
146.0
144.2
148.4
103.1
161.0
74.1
140.7
'46.6
'98.0
37.8
61.6
1, 115. 1
1,001.5
909.6
1, 425. 8
1, 252. 1
889.7
37.2
54.9
64.9
51.0
61.1
64.9
156.3
106.2
82.9
161.4
110.9
83.5
161.9
129.0
95.7
160.3
120.9
81.4
151.3
125.1
84.5
140.2
129.9
90.9
102.8
96.6
90.8
73 2
77.7
78.2
53.1
67.6
80.6
33.1
'42.5
'63.0
26 7
27.1
62.5
272.7
61.7
.163
398.7
246 5
.142
418.0
6.9
.140
376.8
4 7
. 140
372.8
43 4
.140
383.9
56 1
.140-
398.7
42 6
.163
371.7
53 0
.163
394.0
52.2
.163
351.3
56.2
.175
325.1
24.0
.180
297.7
61.0
252.2
12.2
213. 9
17 5
158.6
88
306.6
193.6
291 8
193 9
16.1
17.0
39.5
16.2
31.2
17.1
26.7
13.8
19.5
13 9
23.0
13 7
24.2
16 7
21.4
14.6
27.1
16 7
26.8
17 1
24.2
18.6
17.5
18 6
29.1
18 3
157.2
.127
128 8
120
113.1
.119
118.8
.119
130.7
.119
132.0
.125
128.8
125
129.0
125
132.6
.110
130.4
110
133.9
.110
130.4
128.7 ' 112. 8 117.1
13,462.7 14, 717. 2
149.2
103.2
1,123.8
130.8
1,096.0
108.6
1,416.2
120.2
1,418.6 1 453 6 1 4324 1,346 2 1 445 4 1 437.2 1,549.2
139.4
130.9
202.0
103 2
128.3
125.4
108 5
1,461.6 1,f 441. 3 1, 430. 8
179.3 130. 2
172.9
6, 149. 6
5, 227. 9
5, 401. 6
6 804 7
5, 860. 0
5 926 9
526.9
459. 4
480.8
511.8
489.3
513.5
660.3
513.0
531.2
657.6
526.2
527.7
663 7
560 8
551 9
664 2
533 0
531 0
626 5
509.2
523 3
671 3
566.4
554 7
672.3
545.9
526 1
724 1
505.6
491 0
680.3 r 664. 7
531.9 ' 488. 1
549.5 r 488.3
588.6
823.4
.103
517.2
761 1
.110
552.5
20.2
.099
415.4
90.9
.107
470.7
45.3
.124
492.1
100.8
. 126
517.2
97 2
118
552 0
62 7
118
558.6
46.2
.115
560.7
151 7
155
632.3
73.8
.146
715.8
81.1
651.3
197.8
62,293
19, 992
38, 280
19, 109
39, 927
16, 474
4,435
42, 307
17, 776
34, 699
20, 388
29, 555
23, 556
4,146
45, 768
715
2,089
4,619
45 038
544
2 374
4,053
42, 549
631
2 838
5,744
46,646
557
3 120
5,031
44, 165
540
2 766
2 309
12 794 13 799 10, 836
96
85
105
1 250 1 395 1 159
10, 151
64
1 123
4 000
1 438
153
4 500
1 294
174
4 500
2 172
102
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
5,179
598, 916
217, 708
4,959
579,106
213, 402
43, 134
18, 970
4,771
61, 733
16, 794
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
Taxable
Cigars (large), taxable
Exports, cigarettes
53,845
523, 007
6,759
26, 461
47, 118
510, 532
6,739
24, 970
3,986
43, 208
621
2,693
3,718
45,586
604
1,962
millions
do
do
do
_
r
l
r
638. 3
136.0
656.4
516.6
512 1
665.2
126 7
2 1 g65
l 710 i 1 807
74, 688
20, 902
4,959
77, 312
14, 416
20, 483
16, 738
28, 225
17, 413
4,838
41, 111
18, 303
3,702
38, 875
599
2,027
3,654
38, 036
412
2,329
3,874
42, 627
502
1,935
3,538
40,900
491
1,967
4,843
40, 588
527
2 608
15 280 11 967
115
134
1 586 1 179
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value, total 9
thous $
Calf and kip skins
thous. skins
Cattle hides
thous hides
Imports:
Value total 9
Sheep and lamb skins
Goat and kid skins
thous $
thous pieces
do
Prices, wholesale, f.o.b. shipping point:
Calfskins, packer, heavy , 9H/15 Ib
Hides, steer, heavy, native, over 53 Ib
$ per Ib
do
128, 679
2,212
12 636
152, 446
1,652
14 778
78 400
62 400
30 912 3 20' 716
5 203 3 5 068
.555
.112
14, 204 12, 652
115
111
1 341 1 229
14,606
131
1 405
14, 103
108
1 376
11, 747
76
1 196
11, 321
76
1 154
13, 751
92
1 440
4 400
1 507
349
3 100
548
320
2 700
349
508
3 900
621
253
4 400
655
800
4 000
1*971
'426
6 600
2 993
701
5 700
1 847
192
5 400
2 450
316
.450
138
.450
.136
.430
.139
.403
123
.300
128
.300
128
.375
141
375
134
4 800
1 575
417
.500
. 163
561
146
.575
146
381
030
856
242
215
1 853
330
1 984
248
1,758
485
1 788
271
1 925
539
1,925
265
1 692
543
2 030
261
1 632
431
1 840
292
1 665
531
1 835
271
1 699
' 393
1 775
268
1 814
445
1 866
240
1 874
418
2 070
258
1 815
404
2 054
267
1 791
413
2 038
135
1 322
' 240
1 747
65,802
6 226
4 119
4 561
5 299
5 657
6 063
6 824
6 312
6 396
8 316
6 742
6 306
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
24
6
31
Exports:
Upper and lining leather
thous sq ft
77 266
Prices, wholesale, f.o.b. tannery:
Sole, bends, light
index 1957-59-100
Upper, chrome calf, B and C grades
index, 1957-59-100
95 1
107.0
105 5
111 5
111 5
112 3
112 3
112 3
112 3
112 3
112 3
112 3
91.7
92.1
94 5
90 9
81 2
81.2
85.6
85 6
77 4
82.2
83 3
79 9
642 427
580 857
49 718
47 631
52 979
43 237
44 928
47 697
47 580
50 369
49 049
46 687
48 568
43, 702
526 580
105 437
8 331
2 079
461 549
109, 065
8,423
1 742
38 251
10 480
755
154
36 302
10 364
825
140
40 115
11 874
815
175
32 970
9 407
714
146
37 177
6 828
775
148
39 553
7 299
700
145
39 228
7 487
696
169
40 489
8 866
848
166
38 716
9 312
811
210
35 957
9 742
791
197
37 031
10,' 534
807
196
34 783
8,246
513
160
2 884
2,324
207
228
172
189
221
154
189
195
166
161
172
139
129 7
133 8
131 2
135 7
137 1
137 1
137 1
137 1
138 1
138 1
138 8
138 8
118 7
134 4
126 6
139 8
127 2
140 7
127 2
143 0
128 7
142 3
128 7
142 0
128 7
139 7
128 7
142 8
131 6
146 1
131 6
146 1
131 6
150.3
131 6
147 8
LEATHER MANUFACTURES
Shoes and slippers:
Production total J
thous pairs
Shoes, sandals, and play shoes, except athletic I
thous pairs
Slippers t
do
Athletic I
do
Other footwear %
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
3
22
5
25
247
033
764
413
3
r
Revised.
1 Crop estimate for the year.
2 October 1 estimate of 1970 crop.
* Annual total reflects revisions not distributed to the monthly data.
9 Includes data for items not shown separately.
{Revisions for the months of 1968 will be shown later.
6,165
SURVEY OF CURRENT BUSINESS
October 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
| 1969
Annual
S-31
1969
Aug.
Sept.
Oct.
1970
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
LUMBER AND PRODUCTS
LUMBER— ALL TYPES 9 1
National Forest Products Association:
Production, total
mil. bd. ft._
Hardwoods
do
Softwoods
do _
Shipments total
Hardwoods
Softwoods
37, 450
7,227
30, 223
37, 943
8,462
29,481
3,171
782
2,389
3,256
763
2,493
3,459
799
2,660
2,926
753
2,173
2,820
638
2,182
2,902
657
2,245
2,859
673
2,186
3,164
709
2,455
3,203
695
2,508
3,080
647
2,433
2,967
622
2,345
3,004
648
2,356
3,045
626
2,419
38, 197
7,789
30, 408
37, 615
8,672
28, 943
3,107
789
2,318
3,248
723
2, 425
3,414
766
2,648
2,912
722
2,190
2,757
597
2,160
2,651
656
1,995
2,670
587
2,083
3,015
587
2,428
3,128
559
2,569
2,942
558
2,384
3,042
524
2,518
2,930
497
2,433
3, 044
572
2,412
do ..
do
do
4,988
838
4,150
5,332
628
4,704
5,202
483
4,719
5,210
523
4,687
5,255
556
4,699
5,269
587
4,682
5,332
628
4,704
5,583
629
4,954
5,772
715
5,057
5,921
837
5,024
5,996
973
5,023
6,137
1,065
5,072
6,061
1,165
4,896
6,141
1,322
4,819
6,713
1,389
4,784
do
do
1,143
6,087
2 1, 158
2 6, 263
91
495
120
528
103
525
85
443
116
435
515
92
423
104
488
147
535
91
572
130
562
93
478
119
540
9,009
821
7,844
486
600
487
659
476
776
495
556
433
685
486
591
468
628
474
732
462
811
562
542
453
715
406
697
466
676
435
687
609
1,088
628
622
1,094
749
744
1,099
684
711
1,072
693
651
1,114
694
762
1,046
627
637
1,036
690
707
1,037
34
7
27
37
11
27
31
5
26
23
6
17
53
13
40
21
5
16
32
7
25
do
do
_ - _ _ do
_
Stocks (gross) , mill, end of period, total,
Hardwoods _ _ _
. .
Softwoods
Exports total sawmill products
Imports total sawmill products
SOFT WOODS t
Douglas fir:
Orders new
Orders, unfilled, end of period .
_
mil. bd. ft
do
Production
- Shipments
_ _
Stocks (gross), mill, end of period
..do _
do ___
do
8,781
8,767
971
8,218
8,179
1,010
635
639
1,026
671
670
1,027
743
757
1,013
619
618
1,014
628
632
1,010
Exports, total sawmill products
Sawed timber
Boards, planks, scantlings, etc.
do
do
do_ _.
403
102
301
359
88
271
31
7
23
35
9
25
37
9
28
19
4
15
37
8
29
Prices, wholesale:
Dimension, construction, dried, 1" x 4", R. L.
$per M bd. ft._
Flooring, C and better, F. G., 1" x 4", R. L.
$ per M bd. ft
107. 85
113. 52
95.08
94.61
94.28
96.15
95.37
92.86
91.43
90.66
92.06
92.68
166. 36
212. 59
215. 44
215. 44
222. 46
225. 60
227. 24
227. 24
225. 69
225. 69
225.69
225. 69
7,329
422
7,336
324
625
330
617
334
671
331
585
339
505
324
502
322
512
329
609
366
681
402
586
369
614
361
663
364
633
374
7,054
7,214
7,645
7,434
607
598
594
613
671
674
576
577
552
520
574
504
552
505
588
572
626
645
622
619
585
622
608
660
590
623
Southern pine:
Orders, new
__.
Orders, unfilled, end of period
-
mil. bd. ft
do
Production
_ _
_ _ do _
Shipments
do
Stocks (gross), mill and concentration yards, end
of period
mil bd ft
1,137
1,348
1,339
1,320
1,317
1,316
1,348
1,418
1,465
1,481
1,462
1,465
1,428
1,376
1,343
M bd. ft__
90,477
2 75,687
5,947
7,615
6,718
5,821
8,597
7,359
5,976
5,977
9,561
8,096
8,169
6,481
5,099
Prices, wholesale, (indexes):
Boards, No. 2 and better, 1" x 6", R. L.
1957-59=100..
Flooring, B and better, F. G., 1" x 4", S. L.
1957-59=100..
119.0
132.0
126.2
116.8
115.4
113.6
112.5
114.4
110.0
108.4
109.9
110.5
113.0
127.0
124.9
124.9
126.8
128.3
129.2
129.2
129.2
129.2
129.2
130.7
mil. bd. ft..
do
10, 857
539
9,593
364
818
443
867
438
884
430
674
385
723
364
637
399
680
407
778
391
867
402
759
349
833
356
947
445
807
410
do
d o
10, 826
10, 875
9,999
9,768
849
811
913
872
900
892
702
719
744
744
668
602
704
672
796
794
850
856
802
812
768
826
850
858
850
842
1,653
1,645
1,653
Exports, total sawmill products
Western pine:
Orders, new
Orders, unfilled, end of period
Production
Shipments
_ _ _ _ _
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
1,396
1,627
1,595
1,636
1,644
1,627
1,627
1,693
1,725
1,727
1,721
1,711
87.72
107. 18
79.64
74.90
76.02
77.83
86.00
90.55
84.43
82.45
82.95
90.14
496.5
23.9
380.6
12.0
33.6
14.9
32.8
15.1
36.7
16.6
24.2
13.2
24.1
12.0
21.6
10.5
21.2
9.8
28.3
10.8
31.2
13.2
22.3
9.4
25.3
8.7
31.1
10.3
27.9
10.7
459.3
485.1
23.5
393.1
387.8
29.6
31.8
35.0
20.1
32.1
32.3
19.9
36.8
34.8
21.9
28.2
26.9
23.2
29.8
23.9
29.6
29.3
23.0
35.2
24.8
20.5
38.5
24.6
26.6
35.2
27.1
29.0
32.9
25.3
26.2
32.1
26.2
26.1
34.1
26.9
30.0
29.4
27.8
27.5
29.6
HARDWOOD FLOORING
Oak:
Orders, new
Orders unfilled end of period
mil bd ft
do
Production
Shipments
__
Stocks (gross) , mill, end of period
do
do
do
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
thous sh tons
Scrap
._
do
Pig iron
_
do
Imports:
Steel mill products
Scrap
Pig iron .
2,170
6,572
11
2 5, 229
9,176
44
470
1,200
0)
450
1,054
0)
639
1,025
1
636
842
7
693
736
27
654
792
27
690
539
31
698
781
2
809
935
6
916
1,269
45
651
989
54
635
1,045
2
566
918
43
17,960
327
799
14, 034
412
417
1,249
24
40
1,311
29
43
1,297
26
39
1,008
41
40
1,139
29
46
781
20
4
697
29
6
859
32
3
962
23
26
1,066
30
30
1,082
33
22
1,134
33
33
1,111
27
20
thous. sh. tons.. 22 53, 545
do
33, 587
do
2 87, 060
do
7,882
56, 049
36, 708
94, 369
6,448
4,510
2,799
7,506
7,015
4,808
2,940
7,874
6,917
5,035
3,366
8,464
6,876
4,625
2,928
7,943
6,532
4,662
2,980
7,742
6,448
4,521
2,778
7,529
6,247
4,262
2,915
7,071
6,333
4,719
3,255
7,888
6,427
4,636
3,092
7,705
6,448
4,463
2,863
7,519
6,268
4,522
2,987
7,430
6,360
...
_.
do
do
do
Iron and Steel Scrap
Production
Receipts, net t-Consumption
Stocks, end of period
Prices, steel scrap, No. 1 heavy melting:
Composite (5 markets)..
$ per Ig. ton..
31.82
33.12
25.06
34.18
29.76
Pittsburgh district
do
27.00
32.00
34.00 37.00 34.00
r
Revised.
" Preliminary.
1 Less than 500 tons.
2 Annual total reflects revisions
not distributed to the monthly data.
9 Totals include data for types of lumber not shown separately.
HData for orders, production, shipments, and stocks have been revised back to 1962;
corresponding monthly revisions are available for 1968 and 1969 only.
40.52
42 21
44.94
44.57
32.13 34.30
39.29
34.00 3S. 00
40.00
46. 50
45.00
42.00
44.50
{Receipts previously shown for the period Apr. 1967-Sept. 1969 have been corrected to
represent net receipts (i.e., less scrap shipped, transferred, or otherwise disposed of during the
period); data comparable with the net receipts shown through Mar. 1967 appear in the Feb.
1970 SURVEY, p. S-31.
SURVEY OF CURRENT BUSINESS
S-32
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
| 1969
Annual
October 1970
Aug.
Sept.
Oct.
1970
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
METALS AND MANUFACTURES—Continued
1
IRON AND STEEL— Continued
Ore
Iron ore (operations in all U.S. districts):
Mine production.
_
thous. Ig. tons
Shipments from mines
do
Imports
_ _
do.-
85, 865 i 88, 260
182,531 i 90, 570
43, 941 40, 758
9,710
12, 075
3,706
8,893
11,116
5,188
8, 596
10,221
6,002
5,712
7,490
3,997
5,327
4,824
4,072
5,353
2,658
2,189
5,089
2,583
2,307
5,788
2,318
1,936
6,633
5,348
2,944
9,264
10, 299
3,806
9,520
10, 763
5,487
9,651
11,698
5,193
5,368
126, 165
128, 550
5,430
14, 510
10, 404
807
15, 157
10, 342
466
15, 001
11,244
335
11, 928
10, 762
341
9,832
11, 083
417
4,012
10, 482
334
3,880
9, 562
315
4,561
10, 788
197
7,542
10, 378
339
14, 483
10, 934
433
15,033
10, 497
627
15, 533
10, 327
700
629
72, 019
15, 990
53. 232
2, 797
67, 303
13, 652
51,003
2,648
62, 505
18, 454
42, 515
1,536
65, 523
16, 245
47, 331
1,947
68, 512
14, 918
51, 088
2,506
68, 047
13, 141
52, 254
2,652
67, 303
13, 652
51, 003
2,648
63, 147
16, 170
44, 488
2,489
59, 832
18, 795
38, 814
2,223
56, 656
22, 265
32, 587
1,804
54, 945
23, 576
29, 750
1,619
57,616
22, 538
33, 308
1,770
61, 143
21, 297
37, 844
2,002
64, 578
19 251
43, 050
2,277
953
1,124
105
122
94
117
123
106
45
41
56
34
47
102
149
88, 780
89,953
2,342
95, 017
94, 486
1,715
7,699
7,742
1,894
7,739
7,732
1,828
8,292
8,253
1,760
7,955
7,923
1,720
8,132
7,965
1,715
7,668
7,559
1,752
7,062
7,036
1,671
8,059
7,947
1,685
7,790
7,652
1,712
8,122
7,897
1,787
7,874
7,735
1,804
7,618
7,578
62.70
63.00
63. 50
63.78
64.00
64.33
65.20
65.50
63.50
65.20
65.50
66.00
65.20
65. 50
66.00
65.20
65.50
66.00
65.20
65. 50
66.00
65.20
65.50
66.00
65.20
65.50
66.00
66.78
65.50
69.00
68.20
68.50
69.00
68.20
68.50
69.00
68.20
68.20
68.20
923
15,130
8, 715
1,091
15, 935
9,187
1,144
1,286
756
1,143
1,402
811
1,150
1,498
886
1,096
1,260
735
1,091
1,273
716
1,080
1,214
674
1,076
1,206
699
1,054
1,271
726
1,061
1,272
739
1,046
1,256
723
137
1,007
583
117
1,171
672
141
93
56
130
97
58
121
103
64
115
79
49
117
82
48
109
78
45
107
80
45
104
80
45
94
83
47
94
78
44
'90
'77
45
101
62
42
131,462 1 141, 262
135.0
i 145. 4
11,421
138.4
11, 523
144.3
12,324
149.4
11,916
149.3
11,812
143.2
11, 243
136.3
10, 498
140.9
11, 886
144.1
11, 386
142.6
11,574
140.3
11,323
141.8
10, 781
130.7
446
1,900
1,583
462
135
112
433
153
127
420
167
138
430
151
128
446
152
125
435
147
120
443
149
122
433
160
131
433
158
126
421
154
124
411
-•158
'128
382
129
108
i 93, 877
7,710
7,896
8,439
7,560
7,654
8,538
7,242
8,244
7,039
8,190
8,517
7,759
7,511
6,373
6,244
8,238
1,514
527
495
630
104
582
526
655
104
604
554
719
108
649
528
653
105
704
519
662
131
610
523
697
128
584
553
756
144
792
538
738
167
724
496
631
156
729
500
714
156
780
543
737
143
586
534
685
119
470
472
631
100
13, 660
8, 497
3,241
1,815
10, 078
3, 393
7, 267
36, 624
10, 782
16, 336
14, 354
8,659
3,659
1,923
9,232
3,256
6,555
38, 111
12, 471
16, 427
1,174
681
334
150
691
271
567
3,251
1,107
1,358
1, 194
701
320
162
702
279
571
3,284
1,093
1,398
1,307
790
342
164
694
312
518
3,624
1,245
1,526
1,157
701
297
149
598
237
449
3,185
1,112
1,337
1,146
703
291
142
699
230
598
2,964
1,015
1, 260
1,126
718
244
155
594
235
1,276
3,351
1,170
1,422
1,068
665
252
142
630
237
331
2,939
1,122
1,143
1,349
759
428
152
734
285
446
3,195
1,261
1,214
1,173
668
408
90
824
263
445
2,327
907
919
1,305
735
436
127
679
275
582
3,249
1,087
1,359
1,388
758
472
149
691
282
605
3,350
1,141
1,362
1,249
651
469
123
657
254
603
3,071
1,077
1,240
1,262
676
456
123
661
263
663
2,988
993
1,229
do
do
do
do
i 16 099
i 12, 195
i 4, 922
1 19, 269
1 17 565
i 11, 402
i 4, 768
i 18, 276
4,468
2,789
1 216
4,481
4 454
2 610
1 167
4 41*)
4 454
2,541
1,123
3,853
4 470 2 1, 583
2997
2,818
2412
1,103
3,844 2 1, 278
Rail transportation
do
Machinery, industrial equip., tools
do
Containers, packaging, ship, materials... do
Other
do
1
3, 048
i 5, 469
i 7, 902
i 22, 952
i 3, 344
i 5, 690
i 7, 145
i 25, 687
721
1,333
1,838
6,388
774
1 422
1 709
7 102
918
1,513
2,173
7,759
880
1,355
1,757
7,520
2230
400
2652
2 2, 207
10.5
70.1
68.7
9.8
69.3
70.0
9.1
6.0
6.0
8.9
6.1
6.3
9.2
5.6
5.3
U.S. and foreign ores and ore agglomerates:
118,581
Receipts at iron and steel plants.. _
do _
Consumption at iron and steel plants
do .._ 120, 449
5, 937
Exports
do
Stocks, total, end of period
At mines
__ _ .
At furnace yards
At U.S. docks . . _
_
do
do,
do
- do--
Manganese (mn . content) , general imports
do
C
Pig Iron and Iron Products
Pig Iron:
Production (excluding production of ferroalloys)
thous. sh. tons..
Consumption
-~
do
Stocks, end of period
thous. sh. tons__
1
Prices:
Composite
$ per Ig. ton_.
Basic (furnace)
do
Foundry. No. 2, Northern
do
Castings, gray iron:
Orders, unfilled, for sale, end of period
thous. sh. tons_
Shipments, total
do
For sale
do
Castings, malleable iron:
Orders, unfilled, for sale, end of period
thous. sh.tons__
Shipments, total
do
For sale.. _ _
do
3
992
'1,019
' 1, 291 1,081
668
'758
Steel, Raw and Semifinished
Steel (raw):
Production
. _
thous. sh. tons
Index
daily average 1957-59 — 100
Steel castings:
Orders, unfilled, for sale, end of period
thous. sh. tons..
Shipments, total
do
For sale, total
do
1
371
1,730
1,435
10, 765
130.5
Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous. sh. tons__ i 91, 856
By product:
Semifinished products
do
4,821
Structural shapes (heavy) steel piling
do
6,149
Plates
do
8, 401
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
Steel mill products, inventories, end of period:
Consumers' (manufacturers only) ..mil. sh. tons
Receipts during period
do
Consumption during period
do
10.0
5.3
5.3
9.8
5.9
6.1
10.0
6.4
6.2
9.8
5.6
5.7
9.8
5.6
5.7
10.2
6.4
6.0
10.2
5.7
5.7
9.9
5.8
6.1
9.1
5.7
6.5
2
p9. 6
P5.6
P5.2
6.3
6.3
6.1
5.9
5.8
5.9
6.3
6.1
6.0
6.1
6.3
6.1
'6.1
P6.2
9.9
9.0
11.7
10.2
11.0
9.5
11.0
9.5
11.0
9.6
11.3
9.9
11.7
10.2
11.7
9.2
11.5
9.3
11.5
9.4
11.7
10.3
12.1
10.1
12.1
9.7
11.7
'9.5
Ml. 9
p9 5
Steel (carbon), finished, composite price.. .$ per lb_.
.0873
.0933
.0933
.0917
'2 Revised.
v Preliminary.
1
Annual
total;
m<
mthly
rev
isions
are
not
avail
ible.
8
For^month shown.
For eleven months.
<= Correctec1.
.0933
.0933
.0933
.0952
.0960
.0968
.0974
.0974
.1056
.1056
.1056
Service centers (warehouses)
_. .
do
Producing mills:
In process (ingots, semifinished, etc )
do
Finished (sheets, plates, bars, pipe, etc.) .do... .
Sept.
SURVEY OF CURRENT BUSINESS
October 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Annual
S-33
Aug.
Sept.
Oct.
1970
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. sh. tons.. 3, 255. 0
i 925. 0
Recovery from scrap (aluminum content). .do
Imports (general):
Metal and alloys, crude
- Plates sheets, etc
Exports metal and alloys crude
_ .
3, 793. 1
958.0
318.0
76.0
313.0
77.0
326.9
83.0
318.7
79.0
332.2
72.0
334.6
66.0
305.5
69.0
338.8
76.0
328.5
78.0
339.8
71.0
325.1
73.0
336.3
685.2
61.8
180.3
468.6
57.2
344.4
37.4
4.3
34.9
35.6
4.4
43.1
32.9
4.4
43.9
28.6
3.9
31.6
26.9
4.5
41.1
35.3
7.1
49.5
40.4
9.1
50.2
33.3
8.9
43.1
32.6
6.6
36.0
31.9
7.0
41.5
30.4
7.0
41.1
31.8
6.2
35.2
21.7
5.3
14.1
.2557
.2718
.2700
.2700
.2765
.2800
.2800
.2800
.2800
.2800
.2859
.2900
.2900
.2900
.2900
mil. lb-. 9,864.8 10,721.5
7,170.0 7, 652. 8
do
3, 404. 6 3,711.9
do
1, 588. 2 1, 698. 1
do
849.5
606.5
297.5
130. 4
933.3
640.7
300.7
142.7
932.5
647.5
300.7
157.3
849.2
586.2
277.4
130.7
911.7
630.9
314.6
129.7
837.4
583.6
272.2
137.1
834.9
597. 8
286.7
130.7
936.5
685.2
348.9
146.5
858.4
633.7
318.2
136.7
871.7
653.4
327.2
134.6
' 884. 1
' 661. 6
' 338. 9
' 135. 9
784.3
596.9
297.4
114.4
-do
do
do
Price, primary ingot, 99.5% minimum._.$ perlb..
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.)§
Mill products total §
Plate and sheet
Castings A
Inventories, total (ingot, mill prod., and scrap)*
mil. Ib..
3,725
3,749
3,826
3,781
3,781
3,770
3,749
3,815
3,865
3,839
3,899
3,942 ' 3, 932
1,2016
1,437.4
1, 160. 9
1, 544. 6
1,742.8
1, 468. 9
273.9
465.6
125.1
130.4
108.9
21.4
39.1
127.7
133.6
111.4
22.2
40.6
135.4
157.1
127.5
29.5
44.9
134.2
145.6
123.9
21.7
41.0
138.6
159.0
140.4
18.6
41.4
139.9
148.6
131.4
17.2
37.5
131.8
140.1
120.9
19.3
37.7
144.3
157.5
136.8
20.6
47.2
141.7
151.4
128.1
23.2
45.0
152.1
148.2
128.2
20.0
43.1
405.4
716.7
415.1
131.1
36.3
9.4
38.3
7.2
32.9
12.3
36.3
15.8
31.5
11.8
24.5
11.7
25.9
6.8
25.8
10.0
34.0
6.8
32.7
9.8
32.1
10.6
35.2
10.1
30.5
11.0
360.8
240.7
286.2
200.3
28.9
18.5
28.1
17.9
23.8
15.6
21.2
13.7
20.0
14.9
25.1
18.6
30.3
20.0
27.3
18.8
32.5
24.0
33.0
26.2
22.2
17.1
25.2
15.0
27.8
17.5
1,876.4 2, 145. 0
Consumption, refined (by mills etc.)
do
170.3
171.5
Stocks, refined, end of period
do
124.4
114.9
Fabricators'
do
Price, electrolytic (wirebars), dom., deliveredt
.4793
$ per Ib.. 2 . 4225
167.5
159.4
115.8
180.1
138.9
92.5
194.7
150.2
95.1
181.1
162.9
106.7
180.5
170.3
124.4
170.1
175.1
123.1
186.6
176.4
118.2
200.8
179.3
111.9
185.9
177.1
118.9
188.5
183.8
118.6
180.8
175.6
121.9
P 123. 2
p 230. 3
p 173. 4
P 166.9
p 225.8
p 170.9
.4832
.5176
.5248
.5252
.5289
.5625
i565
4.565
4.598
4.602
4.602
4.601
4.601
Copper:
Production:
Mine recoverable copper
thous sh tons
Refinery primary
do
From domestic ores
do
From foreign ores
do
Secondary recovered as refined
do
Imports (general) :
Refined unrefined scrap (copper cont ) do
Refined
do
Exports:
Refined and scrap
do
Refined
do
Copper-base mill and foundry products, shipments
(quarterly total):
Brass mill products
mil.lb-.
Copper wire mill products (copper cont.) do
Brass and bronze foundry products
do
359.2
509.0
604.2
45.1
48.8
43.2
53.0
46.2
55.4
42.3
49.8
46.1
49.2
47.8
46.7
46.9
45.8
52.5
50.4
49.7
53.1
51.3
46.8
'47.4
50.3
46.5
45.4
424.6
1,328.8
389.6
1, 389. 4
36.6
112.2
25.1
123.9
37.5
131.9
28.2
112.5
28.5
117.7
28.2
116.1
36.2
109.0
32.6
118.7
26.7
115.9
36.7
115.9
23.8
114.0
30.1
99.9
25.4
146.8
165.7
160.7
171.0
176.1
172.3
165.7
158.0
162.7
157.1
163.3
138.4
125.8
130.2
133.8
15.3
88.9
25.5
151.0
15.3
145.1
17.7
146.6
20.5
141.3
22.7
148.4
25.5
151.0
30.5
147.8
33.2
160.2
36.6
169.0
47.1
167.6
53.2
165.7
63.1
172.0
78.9
175.9
57.8
.1321
64.9
.1490
59.0
. 1550
61.3
.1550
59.2
.1550
57.9
.1559
64.9
.1603
74.7
.1650
75.9
.1650
73.0
.1650
67.5
.1650
72.3
.1650
67.1
. 1650
75.5
.1568
.1510
0
Ig. tons,.
3,266
54, 950
do
57, 358
i 22, 775
do
122,495
1
i 3, 022
do
2, 978
do
81,961 i 80, 790
do
58,859 i 57, 730
0
4,738
1,775
260
6,455
4,665
0
4,805
1,895
195
6,625
4,695
0
5,312
2,140
285
7,105
4,925
0
3,975
1,895
255
6,110
4,360
0
4,141
1,770
270
6,210
4,430
0
5,358
1,885
270
6,345
4,565
0
2,731
1,800
255
5,605
3,825
0
4,707
1,840
285
6,760
4,680
0
3,818
1,785
230
6,595
4,665
384
4,543
1,855
330
6,505
4,560
1,065
6,134
1,255
250
6,580
4,780
0
3,398
1,633
1,723
3,217
13, 824
1. 6444
83
13,645
1. 6590
270
16, 045
1. 6564
143
16,245
1. 6671
320
14, 808
1. 7596
852
13, 824
1. 8132
448
808
13, 655 13, 135
1. 7917 1. 7491
327
12,680
1.7712
81
11, 765
1. 8388
91
11,810
1.8054
92
12, 865
1. 7023
673
11, 330
1.6477
do
do
do._.
do
$ per lb..
thous. sh. tons__
Consumption (recoverable zinc content):
Ores
_ _
Scrap, all types
do
do
do
do._ -
2,213
791
5,027
18, 557
1.4811
731
609
209
717
658
203
4 .601
708
599
214
.1452
5,885
4,425
529.4
553.1
47.3
47.4
47.3
46.3
45.5
45.1
45.7
49.2
48.3
45.6
'46.4
46.5
546.4
305.5
602.1
324.7
47.1
27.6
50.9
31.4
57.0
25.7
53.0
23.8
40.3
27.8
44.7
25.6
45.2
21.7
56.6
21.3
39.5
22.3
43.7
25.0
42.9
16.4
44.2
20.7
1 124. 1
i 270. 6
i 126. 7
i 302. 1
10.3
19.0
12.3
19.2
13.0
20.4
12.2
20.0
12.3
20.1
7.5
18.9
11.8
18.8
12.8
19.8
11.1
19.8
10.3
18.6
9.0
19.4
8.2
18.4
86.6
6.2
103.0
.1
85.0
5.5
97.3
(3)
87.4
5.2
97.4
3
()
76.9
6.1
94.6
3
()
'85.4
6.9
100.0
.1
'80.7
5.3
99.4
0
' 77.0
6.8
99.1
(3)
' 70.7
6.1
102.2
(3)
'71.7
5.3
90.9
(3)
Slab zinc:
Production (primary smelter), from domestic
88.6
90.0
and foreign ores
thous sh tons i 1,020.9 1, 045. 4
88.0
65.7
4.6
Secondary (redistilled) production..
do_
4.8
179.9
6.5
116.0
Consumption, fabricators'
do
U,333.7 1 1, 368. 3 110.8
122.0
Exports
_
do
9.3
2.2
.7
.4
33.0
Stocks, end of period:
63.1 ' i 67. 7 51.1
45.9
Producers', at smelter (AZI)O
do
48.6
Consumers'
_ do
102.4 '1100.5
105.7
104.0
99.1
.1450
.1460
Price, Prime Western (East St. Louis). $ per lb-_
.1486
.1550
.1350
r
Revised.
p Preliminary.3
i Annual; monthly revisions are not a vailable.
2
Average for Apr .-Dec.
Less than 50 tons.
Beginnirig Feb. 19 70, the n jw META LS
WEEK price (based on mine production rates and k nown sel ing prices5 Of U.S produce>rs
only) is not comparable with prices for earlier month s.
§For revised 1968 monthly data, see Feb. 1970 Su RVEY, p. 55-32.
A Revised data (1966-68) are in the Apr. 1970 SURV EY.
*N ew series. Source, U.S. De]3t.
144.5
138.7
119. 3
19.4
34.6
i 550. 9
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content), ABMS
thous sh tons
Refiners' (primary), refined and antimonial
(lead content)
thous sh tons
Consumers' (lead content) d"
do
Scrap (lead-base, purchased), all smelters
(gross weight)
thous. sh. tons
Price, common grade (N.Y.)
$ per Ib
Zinc:
Mine prod., recoverable zinc
Imports (general):
Ores (zinc content)
Metal (slab, blocks)..
148.5 ' 137. 0
148.3
140.9
117.6
130.4
18.0
23.3
41.5
41.1
3,111
2,524
853
Imports (general) or° (lead cont.), metal
Consumption, total
Exports, incl. reexports (metal)
Stocks, pig (industrial), end of period
Price, pig, Straits (N.Y.), prompt
4,045
2,757
Lead:
Production:
Mine, recoverable lead
thous. sh. tons..
Recovered from scrap (lead cont.)
do
Tin:
Imports (for consumption) :
Ore (tin content)
Bars, pigs, etc
'
Recovery from scrap, total (tin cont.)
As metal. - .
Consumption, total
Primary
276.5
400.9
.2900
102
1. 7451
1. 7474
56.9
16.0
(3)
'94.7 T 109. 3 '122.2 '131.7 ' 134. 9 ' 132. 0 ' 125. 7 '117.2
61.4
78.3
112.8
87.11
85.4
93.5
94.5
84.8
79.8
77.3 '83.4
75.9
.1550
.1550 1 .1550
.1550
.1550
.1550
. 1533
. 1500
.1550
. 1550
.1550
of Cc mmerce monthby data ba ck to Jan . 1967 anj avail ab le.
tP rices sho^kvn are a^/erages o delivere d prices; average different ial betw(^en the delivered
and t he refine ry price is 0.400 ce nt<5 per 1 3. throug h 1969 arid 0.500 c ents ther eafter.
rfCConsume rs' and s econdary smelten$' lead st ocks in r efinery s hapes an d in copper-base
scrap .
01'roducen>' stocks elsewhere , end of Sept. 1970, 24,000 :ons.
SUKVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
| 1969
Annual
October 1970
Aug.
Sept.
Oct.
1970
Nov.
Dec.
Jan.
Mar.
Feb.
Apr.
May
June
July
Aug.
Sept.
METALS AND MANUFACTURES—Continued
HEATING EQUIPMENT, EXC. ELECTRIC
Radiators and con vectors, shipments:
19.8
Cast-iron
mil sq ft radiation
279.2
Nonferrous
do
Oil burners:
i 532. 6
Shipments
thous
145.8
Stocks end of period
do
Ranges, gas, domestic cooking (incl. free-standing,
set-in, high-oven ranges, and built-in oven
broilers) shipments
thous 12,268.2
206.1
Top burner sections (4-burnerequiv.), ship... do
U.446.8
11,001.3
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
5.3
78.5
.4
7.0
.6
7.9
.6
9.0
.4
5.9
.3
5.1
.3
5.0
.5
5.1
.4
4.6
.2
4.5
.2
4.1
665.3
63.1
28.3
66.1
23.7
73.6
19.7
52.9
18.2
57.0
48.4
47.5
44.1
34.8
36.6
'46.6
47.6
2,471.1
198.7
221.2
15.8
230.3
18.3
237.9
17.7
201.8
14.8
199.6
16.2
167.5
13.0
178.2
13.7
208.3
15.7
187.9
12.6
174.0
13.1
227.6
14.1
172.4
11.2
1,361.6
967.0
176.4
133.5
172.0
132.1
189.4
143.8
133.4
102.0
79.3
52.6
71.2
37.8
66.7
31.8
76.6
51.4
72.6
47.6
79.6
52.0
'89.2
'65.5
129.6
96.8
1 1, 740. 9 1,898. 8
1 1, 428. 1 1, 531. 6
2.705.9 2, 784. 6
172.3
136.3
205.5
202.3
153.9
233.0
218.9
170.7
249.8
153.2
121.7
246.3
146.9
121.4
210.4
150.1
125.4
245.1
133.7
110.8
214.4
135. 5
111.6
235.1
120.2
97.9
242.7
128.9
105.8
232.5
270.3
366.1
469.1
318.3
273.0
307.2
242.4
499.0
369.5
550.3 1, 402. 1
121.2
i 12.1
164.6
113.1
16.4
58.3
220.4
s 246. 8
227.1
220.2
249.1
226.8
257.2
224.1
228.3
200.4
177.3
226.1
177.1
207.6
10, 753
12,243
14, 579
14,903
1,041
900
1,282
1,352
1,348
1,391
1,069
1,282
1,406
1,399
1,000
1,407
1,305
1,220
1,218
1,573
1, 150
1,057
1,529
1,237
1,273
1,377
1,125
1,433
688
846
42,601
50,446
4,074
4,429
4,220
4,010
4,328
4,135
3,643
3,846
3,416
3,636
3,855
3,533
2,346
1, 079. 35
959.90
1, 358. 30
1, 238. 30
809.6
1, 195. 30
1,032.65
1,192.45
1, 077. 45
812.4
66.70
56.45
74.05
63.15
903.0
82.00
58.50
108.40
96.65
876.6
89.00
77.40
104. 60
94.00
861.0
78.95
67.55
92.20
83.90
847.8
82.80
70.20
118.15
103.35
812.4
92.25
78.60
93.85
84.35
810.8
62.85
52.70
87.35
74.65
786.3
75.95
60.00
98.20
82.50
764.1
59.20
46.30
83.05
69.15
740.2
52.75
41.60
97.10
82.55
695.9
61.85 ' 62. 70
44.05 ' 47. 70
100.60 ' 74. 90
84.50 ' 61. 30
657.1 '644.9
394.75
360.55
368.60
324. 45
254. 5
533. 45
484.35
405. 10
369.30
382.8
38.60
33.30
30.70
28.05
402.8
27.70
23.95
34.85
32.80
395.7
45.00
36.25
43.20
40.40
397.5
31.90
27.70
39.20
34.15
390.2
26.25
24.20
33.60
31.20
382.8
22.30
18.70
40.70
38.65
364.4
31.70
29.65
39.60
33.60
356.5
20.35
17.00
40.95
38.20
335.9
27.20
25.55
34.75
32.20
328.4
16.25
15.20
46.10
43.40
298.5
i 453. 4
68.4
1 475. 6
179.1
107 4
49 0
i 502. 6
617.3
1938.4
878.6
i 1,211.3
1, 151. 6
33, 793
35, 510
.3
3.9
' 148. 2 162.9
r 119. 9
128.6
264.8
234.7
MACHINERY AND EQUIPMENT
Foundry
equipment (new), new orders, net
mo avg shipments 1957-59—100
Furnaces (industrial) and ovens, etc., new orders
(domestic) net quarterly total
mil $
Electric processing
do
Fuel-fired (exc for hot rolling steel)
do
Material handling equipment (industrial):
Orders (new), index, seas, adj
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:
Orders new (net), total
Domestic
Shipments total
Domestic
Order backlog end of period
Metal forming type tools:
Orders, new (net), total
Domestic
Shipments total
Domestic
Order backlog end of period
mil $
do
do
do
do
do
do
do
do
do
Other machinery and equip., qtrly. shipments:
Tractors used in construction:
Tracklaying, total
mil $
Wheel (contractors' off-highway)
do
Tractor shovel loaders (integral units only),
wheel and tracklaying types
mil $
Tractors, wheel (excl. garden and contractors'
off-highway types)
mil $
Farm machines and equipment (selected types),
excl. tractors
mil. $..
19.8
3.1
10.1
769.7
30.1
3.0
11.3
23.2
7 2
8.8
309.2
255.5
14.40
12.85
41.20
36.20
271.7
125.3
52.3
'
'
'
'
14.75
12. 30
38. 75
36. 25
247. 7
100 8
31 6
133.2
736.5
139 1
138.2
' 162. 4
153.3
175.6
228.5
248.4
230.8
228.3
239.6
333 6
294.8
3,123
2,491 ' 2, 039 r 1, 930
2,269
' 2, 912
r
195.3
22.5
2.7
12.3
34.35
23.40
61.25
46.65
618.0
11.80
8.85
32.05
29.50
227.5
339.8
346.9
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) . _
do
Dryers (gas and electric), sales (domestic and
export)
thous
2,927
3,819
4,271
3,668
3,782
3,692
3,002
193.7
2,306.8 i 2,342. 3
195.2
194.6
242.2
144.6
153.5
120.2
142.8
210.8
205.5
200.2
221.6
238.4
181.0
165.6
6, 653. 1 7, 133. 7
i 4,519. 8 4, 421. 5
125.0
562.8
417.9
194.1
765.0
433.5
201.8
728.7
462.8
98.6
645.0
290.8
113.3
520.9
277.1
131.5
565.1
241.1
194.9
636.1
302.9
219.5
645.1
399.8
227.2
561.5
338.3
221.4
531.7
324.3
227.4
589.2
384.1
238.3
513.3
8 336. 3
2, 861. 8
3,022.5
276.1
350.4
394.6
268.2
243.6
203.7
219.4
278.8
197.5
173.6
203.4
198.5
Radio sets, production©
do
22, 566
Television sets (incl. combination), prod.O.-do
11,794
Electron tubes and semiconductors (excl. receiving,
power, and spec, purpose tubes), sales
mil. $.. 1693.1
Motors and generators:
New orders, index, qtrly
1947-49—100
206
New orders (gross) :
Polyphase induction motors, 1-200 hp . . .mil. $. _ « 96. 6
D.C. motors and generators, 1-200 hp
do
49.5
20, 549
11, 270
1,827
877
4 2, 211
4 1, 167
1,838
984
1,504
888
1, 437
4764
1,369
704
1,240
782
4 1, 632
4895
1,322
509
1,292 * 1, 651
4823
531
975
534
770.7
63.5
71.2
69.3
61.1
69.7
62.7
59.6
63.8
58.1
56.4
46.9
49.3
59.9
3.8
57.5
4.0
217
U09.3
51.9
510.3
4.0
510.3
4.4
58.1
3.6
58.8
3.5
53.2
58.1
4.8
58.7
3.8
59.7
6.0
278.7
335.9
1,480 4 1, 585
779 41,054
206
215
210
213
58.0
3.8
4
152.1
667.9
8354.5 8 386. 9
39.4
3.6
58.1
3.4
58.6
4.7
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
877
'901
710
Production
thous. sh. tons.. 11, 461 ' 10, 400
766
811
773
817
761
952
866
811
'947
736
891
79
110
43
Exports
do
51
57
22
17
70
16
111
70
627
41
63
518
Price, wholesale, chestnut, f.o.b. car at mine
$persh. ton_. 13.813
15.100 14. 778 15.268 15.268 15. 758 16. 248 16. 346 16. 346 16. 346 16. 346 16. 346
Bituminous:
38, 795 ' 50, 365 53, 685
Production
thous. sh. tons. 545, 245 '560, 503 ' 48,347 ' 49,155 '53,906 ' 45,687 ' 51,094 45, 515 45,890 '50,775 49, 330 50,765 48,085
T
l
s Omits combination washer-dryers.
t Revised series. Data reflect adjustment to 1967
;5evlse(J'
Revised total or year-end stock; monthly revisions are not available.
2
Total for 11 months.
s For month shown.
* Data cover 5 weeks; other periods,
Census of Manufactures; monthly revisions (1957-69) are available.
.
ORadio production comprises table, portable battery, auto, and clock models; television
4 weeks.
s Excludes orders for motors 1-20 hp.; domestic sales of this class in 1969 totaled
$117.2
mil.;
1970—Aug.,
$7.5
mil.
e
Revised
data
(1967-68)
are
in
the
Apr.
1S70
SURVEY.
sets
cover
monochrome
and
color
units.
7
Excludes figures for rubber-tired dozers (included for other periods).
SUKVEY OF CUKRENT BUSINESS
October 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Annual
S-35
Aug.
Sept.
1970
Oct.
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
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
Mfg and mining industries, total
do
Coke plants (oven and beehive)
- do
Retail deliveries to other consumers
do
Stocks, industrial and retail dealers', end of period,
total
thous. sh. tons__
Electric power utilities _
do
Mfg. and mining industries, total.
do
Oven-coke plants
_ _ _ do __
Retail dealers
_
- do
Exports
do
Prices, wholesale:
Screenings, indust. use, f.o.b. mine
$ per sh. ton_
Domestic, large sizes, f.o.b. mine
do
COKE
Production:
Beehive
Oven (byproduct)
Petroleum coke§
Stocks, end of period:
Oven-coke plants, total
At furnace plants
At merchant plants.. _ _
Petroleum coke
Exports
-_
_
thous. sh. tons
do
do
do
_ _ do
do
do
do__
498, 830 507, 275
294, 739 r 308, 461
188, 450 185, 835
90, 765
92, 901
15, 224
r
85, 525
64,168
21, 169
9,537
' 80 482
60, 597
19, 701
8 962
12, 666
41, 828
26, 794
14,456
7,840
538
39,646 41,742 '42,422
24,544 25, 226 25,735
14,315 ••15,398 15,529
8,092
7,714
7,769
748
75,128 *• 78, 712
56, 975 59,046
17, 980 19, 502
6,618
7,338
T
47, 198
28, 957
16, 837
8,154
48, 268
30, 167
16,367
7,772
42,416
26, 121
15,060
7,356
44, 067
26, 668
16, 502
8,582
40 761
24 170
16, 113
8 354
40 461
24 118
15, 853
8 626
41, 142
25, 625
15, 058
8 315
44, 748
27, 522
16, 756
8 471
1,390
1,734
1,235
894
450
450
420
430
83,545 '83,322 '80,482
62, 328 63,433 60,597
20, 996 21, 018 19, 701
8,376
8,807
8,962
52, 768
49, 944
49,549
52,060
55 619
57, 383
54,825
7 712
7,796
8,390
8 678
9 093
9 235
6,517
7 210
6 269
72
1,074
1,122
188
184
173
221
221
211
184
50,637
56 234
4,927
4,882
5,496
5 751
4 843
3 984
4 343
5 309
6 057
6 059
5.397
6.944
6 052
7 487
6.068
7.414
6.068
7.529
6.342
7.836
6.470
8.086
6 514
8.207
6.526
8.393
6 926
8 529
7 037
8.529
7 758
8.864
7 819
8 950
775
70
5,532
5,274
1,734
5,552
1 795
63
69
5 570
1 881
61
64
5,333
1 827
69
64 014
20 574
5,412
1,752
65
62, 878
19,038
5 332
1 856
5 069
1 643
5,978
1 696
5,807
1 834
5 966
1 728
5,749 ' 5, 442
1 929
5,368
5 985
5, 637
3 120
3* 020
3,816
3,629
3,699
3,553
3 430
3 309
3 320
3 202
3 120
3 020
3 032
2 946
3 034
2 969
3 088
3 025
3 100
3 043
3 121
3 063
2 954
2 907
3 006
2,952
2,963
2,914
1,235
54
49
1 040
1 629
1 040
1 187
1 173
1 077
1 132
47
966
149
244
268
214,368
3.18
3, 880. 1
1,261
3.21
334.9
2 080
3 21
342 5
1 028
3 21
336 9
1 153
3 21
304 8
1 041
3 21
335 9
93
93
91
1 047
3 21
324 0
r 87
912
3 21
318 4
348
1,239
792
710
99
186
121
76
146
69
121
1,131
1 225
100
123
1,107
3.21
324.4
1,217
3.21
325 8
63
119
1 237
146
81
99
164
86
89
65
152
63
59
55
141
58
966
195
212
PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed ___
Price at wells (Oklahoma)
Runs to stills
_. _
Refinery operating ratio
number. . 14, 426
3.06
$ per bbl _
mil. bbl
3, 774. 4
..% of capacity. _
93
All oils, supply, demand, and stocks:
New supply, totalc?
Production:
Crude petroleum
Natural-gas plant liquids
Imports:
Crude and unfinished oils
Refined products.
Demand, total
_.
Exports:
Crude petroleum
Refined products
Domestic demand, total 9
Gasoline__ _
Kerosene
_
Distillate fuel oil
Residual fuel oil
Jet fuel
Lubricants
Asphalt
Liquefied gases
.
.
_ _ _ _
Stocks, end of period, total
Crude petroleum
Unfinished oils, natural gasoline, etc
Refined products
Refined petroleum products:
Gasoline (incl. aviation):
Production
Exports
Stocks, end of period
92
90
94
93
1 129
335 5
90
5,102.8
424.0
420 0
429 5
421 6
465 4
463 8
430 2
470 5
436 8
436 3
430 9
436 4
do
_ do
3 329 0
553 7
280 7
49.0
278 2
47 4
284 8
50 1
279 6
49 4
294 g
52 0
293 5
51 0
9R7 7
294 5
52 3
287 6
50 0
295 2
51 8
280 7
51 0
284 9
51 9
do
do
501 7
537 7
551.9
602.7
48 4
45.9
46 4
48 0
47 g
46 8
47 5
45 0
53 1
65 6
47 7
71 6
AA q
50 3
73 3
38 1
61 1
40 7
48 5
44 1
55 1
42 0
57 6
do
55.5
-17.4
10 2
9 3
55
4 7
33 2
52 3
OQ
4 873 8
5, 126. 4
414 2
410 3
422 6
499 4
C1Q K
1.8
1.4
do
do
do
do
_ . do _
do
.1
426 0
83.9
82 7
4,789 2 5,041.0
1 956 0 2, 042. 5
100.4
102 9
7 g
402 6
171 0
7 3
2
2
1
8 5
405.6
185 0
5 2
7 0
415 5
177 2
71
6 8
419 0
163 6
9 q
70
492 3
174 5
6 7
511 7
62 4
58 6
82 9
112 0
127 2
.1
do
do
do
874 5
668 2
349 4
900.1
721.9
361.5
50 8
51 3
31 3
58 2
54 5
31 1
__. do
do
-do
48 5
141 2
385 7
48.7
143.3
445.6
4 1
19 1
32 4
41
19 2
33 3
999
272
98
628
980.1 1 005 9 1 014 5 1 020 0 1 015 3
265.2
262 5
267 7
264 3 ' 264 8
103.5
104 °.
tni A.
104 3
104 6
611.4
fi4Q 1
632 9
647 7
651 5
do
do
do
do . _ _
do
do.
do
6
2
9
5
1)0
re c
I
4 6
Ifi 7
39 1
3
9
7
0
70 5
0
—1 0
17 3
28 1
16 3
31
f)
472 4
419 4
407 1
415 0
432 6
1
1
7 9
AA"i 0
7 2
465 1
173 4
89
7 6
411 7
171 3
54
95 8
87 3
74 2
63 6
07 2
4 4
10 0
32 2
AK()
1
1A4 ft
19 fi
77 1
00
40 A
47 7
OQ 7
-I
q Q
A 7
48 1
4
980 1
927
267
105
555
OCC
9
611 4
82. 2
28.7
41
907 1
cqq 9
906
274
107
523
17fi ^
1
157 0
9fiQ fi
179 6
174 3
189.4
194.3
195 0
208 4
217 4
231 9
238 8
.113
.116
.120
.110
.110
.118
118
.113
113
230
239
240
232
oqo
OOQ
31.6
18
26.5
18
2.2
3
5.4
2 3
2 2
2 i
56
58
4
177 1
3
7.0
6.2
2.5
1
5.5
101 6
23 5
102 9
26 8
76
29 7
74
29 9
76
30 6
.113
.111
.111
.111
.111
2
175 3
1
189 1
3
38 9
9
1
4
4
217.4
3
fi q
4. 7
41. 6
2, 028. 2
2.5
98 9
1
1 940 0
2 1
211.5
Revised.
i Less than 50 thousand barrels.
2 Reflects revisions not available by months.
cf Includes small amounts of "other hydrocarbons and hydrogen refinery input," not
92
1 142
326 2
3,363.8
584.5
Prices (excl. aviation):
Wholesale, ref. (Okla., group 3)
$ per gal__
Retail (regular grade, excl. taxes), 55 cities
(1st of following mo.)
$ per gal
Aviation gasoline:
Production
mil. bbl
Exports..
do
Stocks, end of period
do
Kerosene:
Production
._
do
Stocks, end of period
do
Price, wholesale, bulk lots (N.Y. Harbor)
$ per gal. _
r
92
925
4 922 1
mil. bbl
Change in stocks, all oils (decrease,—).
92
1 080
3 21
321 6
2
60 3
51 3
52 6
58 2
97 7
98 1
50 3
59 2
32 5
4 0
H q
29 0
4 7
18 8
29 8
4 2
21 3
31 9
967 9
279 9
115 5
572 5
971 0
266 9
113 8
590 4
951
284
115
551
173 4
164 3
172 5
173 8
240 8
235.7
226 4
214 9
.110
.110
2
.
1
9q7 r
9*>fi
6
8
0
8
1
I
.133
r
948
r
94Q
16
5 6
1.6
1
5.4
51
1
4.7
18 0
9 e
18 5
7 5
20 8
7 0
22 9
7 4
26 3
.111
.111
.111
.118
13
2
1 6
1
6 2
6 3
59
8 0
29 4
Q 8
9fi 8
10 2
Q 1
9ft* 4
.111
.111
.nil
d\
1
83
424 3
195 2
50
923 4
278 0
112 5
532 9
2
6
8
7
14
j
3
7 5
8
3 T 407 3
187
4
6
4 3
0
7
399
183
5
shown separately.
9 Includes data not shown separately.
§ Includes nonmarketable catalyst coke.
I
13
r
9^fi
T 938
9qft
SURVEY OF CURRENT BUSINESS
S-36
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
1969
Annual
October 1970
Aug.
Sept.
Oct.
1970
Nov.
Dec.
Jan .
Feb.
Mar.
Apr.
May
June
July
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
840.7
48.1
1.5
173.2
848.4
50.9
1.3
171.7
71.0
4.3
.1
183.5
68.9
3.5
.1
197.7
70.5
2.3
.1
208.0
72.5
3.4
.1
201.0
76.9
5.9
.1
171.7
79.5
6.7
(2)
130.7
71.9
5.7
.1
111.5
77.7
7.6
.1
101.0
70.8
4.6
.1
102.1
70.8
3.4
.1
115.8
72.3
1.9
(2)
137.5
.103
.101
.101
.101
.101
.101
.101
.101
.101
.101
.101
.108
275.8
409.9
20.0
67.4
1.40
265.9
461.6
16.9
58.4
1 48
19.2
34.1
1.5
66.1
1.45
19.5
35.1
1.0
65.6
1 45
19.5
39.0
1.6
64.2
1.45
21.4
33.8
1.6
62.7
1.45
24.1
51.2
.8
58.4
1.45
26.0
56.0
1.5
49.5
1.65
23.9
56.5
2.1
46.1
2.00
23.6
58.5
1.1
40.3
2.00
19.8
47.3
1.4
42.8
2 00
17.7
36.8
1.8
44.7
2 00
17.0
43.6
1.3
46.0
314.9
24.3
321 7
28.1
27.6
30.2
25.1
28.9
26.3
29.3
25.6
29.5
27.7
28.1
23.9
27.1
24.0
26.4
26 4
27 2
24.5
29.2
23.7
29.4
24.9
30.9
65.7
18.0
14.0
65.1
16.4
14.1
5.8
1.7
12.8
5.4
1.5
12.7
5.7
1.2
12.5
5.8
1.1
13.6
5.7
1.4
14.1
5.5
1.3
14.3
4.7
1.1
14.5
5.5
1.7
14.1
5.4
1.3
13.8
5.6
1.3
14.1
5.3
1.2
13.6
.270
.270
.270
.270
.270
.270
.270
.270
.270
.270
.270
.270
mil bbl
do
135.5
20.1
135 7
16.8
14.9
19.5
15.1
16.1
13.5
13.2
10.4
14.0
9.0
16.8
6.8
19.5
6.7
21.6
9 3
24.8
10.8
25.8
13.0
24.9
14.5
21.3
Liquefied gases (incl. ethane and ethylene):
Production total
mil. bbl
At gas processing plants (L.P.G.)
do
At refineries (L R G )
do
Stocks (at plants and refineries)
do
469.3
351.3
118.1
76.2
502.0
378.5
123 5
59.6
42.1
30.9
11.1
82.4
40.7
30.4
10.3
83.6
42.8
32.6
10.2
79.9
42.3
32.4
9.9
71.5
44.7
34.5
10.2
59.6
44.6
33.9
10.7
42.4
41.9
31.6
10.3
37.0
45.3
34.8
10 6
37.6
43.3
32.9
10.5
43.5
44.9
34.1
10.8
54.6
43.6
33.0
10.6
63.2
Asphalt and tar products, shipments:
Asphalt roofing total
thous squares
Roll roofing and cap sheet
do
Shingles all types
do
78 045
31 099
46, 946
82 683
34 037
48, 646
8 185
3,249
4, 936
8 871
3 565
5 306
8 850
3 630
5,221
7 060
3 154
3,905
5 463
2 589
2,874
3 387
1 708
1, 679
3 447
1 566
1, 882
5 143
2 350
2 793
6 340
2 662
3 679
7 895
2 924
4 970
r 8, 504
'3,377
' 5, 127
8 792
3 562
5,230
8 384
3 511
4,874
418
411
875
368
346
901
34
40
80
42
27
85
39
50
84
30
23
73
22
17
68
20
7
51
16
13
45
20
24
61
25
73
20
31
75
23
39
78
29
39
84
21
35
82
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
99
T
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
Consumption
Stocks, end of period
Waste paper:
Consumption
Stocks, end of period
thous. cords (128 cu. ft.)-_ i1 59, 041
59, 788
do
5, 676
do
62, 276
62, 813
4,788
5,466
5,405
3,949
5,580
5, 179
4,241
5,824
5,547
4,537
5,255
5,427
4,521
5,274
5,025
4,788
5,044
5, 449
4, 432
5, 273
5,177
4,397
5,813
5,593
4,715
5,611
5,536
4,811
5, 449
5,548
4,745
5,591
5,478
4,892
5,531
5,251
5,193
thous. sh tons
do
10, 285
586
10, 441
608
909
581
883
586
908
608
818
598
780
608
838
569
805
572
868
569
872
563
832
552
854
556
736
594
thous sh tons
do
do
do
i 39, 400
> 1, 679
i 25, 505
i 2, 431
41, 057
1,701
27, 628
2,337
3,558
156
2,420
198
3,379
133
2, 280
191
3,647
150
2,482
210
3,594
141
2,456
192
3,263
131
2,180
197
3,560
154
2,422
194
3,425
139
2,332
187
3,587
145
2,445
201
3,579
142
2,431
208
3,624
160
2,447
203
3,475
120
2,371
203
3,352
140
2,268
181
WOODPULP
Production:
Total all grades
Dissolving and special alpha
Sulfate
Sulfite
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
i 4, 470
i 1, 625
i 3, 690
4,241
1,585
3,564
358
133
292
345
132
297
368
131
306
359
135
310
341
128
286
359
127
303
353
129
284
362
131
303
366
134
298
374
134
305
357
133
291
359
134
269
do
do
do
do
870
358
426
86
796
230
469
99
790
286
432
72
780
293
418
70
787
284
431
72
839
321
440
77
796
230
469
99
812
294
440
79
811
284
457
76
823
275
474
74
832
299
459
74
868
348
450
71
867
340
459
'68
915
359
486
70
Exports, all grades, total
Dissolving and special alpha
All other
do
do
do
1,902
671
1,231
i 2, 103
1744
1 1, 359
196
79
118
148
68
80
191
60
132
182
63
119
220
72
148
200
63
137
204
70
134
224
80
145
254
81
173
243
50
193
269
96
173
273
65
208
325
80
245
Imports, all grades, total
Dissolving and special alpha
All other..
do
do
do
3,540
302
3,238
14,040
1298
1 3, 743
307
18
289
320
22
299
400
30
370
356
24
332
358
35
323
304
24
280
294
21
273
348
25
323
304
24
280
296
23
273
309
15
293
292
13
280
270
21
249
50, 703
22, 091
24, 267
155
4,190
53, 488
23, 460
25, 561
133
4,333
4,513
1,976
2,151
11
374
4,367
1,927
2,047
11
382
4,711
2,074
2,228
12
397
4,455
1,958
2, 150
11
336
4, 253
1,885
2.046
8
314
4,586
2,036
2,237
10
304
4,264
1, 893
2, 057
9
304
4,532
2,047
2,142
11
332
4,624
2,053
2,198
14
359
4,469
1,944
2,160
12
353
50, 207
53, 754
4,553
4,453
4,709
4,413
4,238
* 4, 532
101.4
119.6
91.1
92.7
102.7
122.9
94.4
97.1
102.7
123.2
95.8
95.2
102.7
123.2
95.9
95.1
102.7
123.2
95.9
94.6
102.7
126.4
96.0
94.4
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census):
All grades, total, unadjusted
thous. sh. tons__
Paper
do
Paperboard
do
Wet-machine board
do
Construction paper and board
do
New orders (American Paper Institute) :
All grades, paper and board
do
Wholesale price indexes:
Printing paper
1957-59-100
Book paper, A grade
do
' Paperboard
do
Building paper and board
do
' Revised .
* Preliminary.
4,377 p 4, 065
1,898 p 1, 785
2,103 p 1, 898
Pl2
15
p371
361
102 7
126.4
127.5 ! 127.5
127.5
126.4
127.5
96.0
96.7
97.1
97. 0
97. 0
96.0
93.4
93.3
92.9
93.4
93.0
93.9
i R eported a nnual to ial; revis ions not allocated to the m onths.
barrels.
2
Less than 50 thousand
SURVEY OF CURRENT BUSINESS
October 1970
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes ar as shown
in the 1969 edition of BUSINESS STATISTICS
1969
1969
Annual
S-37
Aug.
Sept.
Oct.
1970
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):J
Groundwood paper, uncoated:
Orders new
thous.sh. tonsOrders unfilled, end of period . __ ..do
Shipments
do
Coated paper:
Orders new
do
Orders unfilled end of period
do
Shipments
- - do.- .
Book paper, uncoated:
Orders new
do
Shipments
- -- -- do ..
Writing and related papers:
Orders new
do
Shipments
--- do
Unbleached i-raft packaging and industrial converting papers:
Orders new
do
Orders unfilled end of period
do
Shipments
do__
Tissue paper production
do
Newsprint:
Canada:
Production
Shipments from mills
_
Stocks at mills end of period
_
United States:
Production
Shipments from mills
_
Stocks at mills end of period
-
_
1,171
107
1,123
100
130
100
83
108
91
105
102
104
114
122
94
94
107
91
94
97
93
92
102
89
'117
'96
'ii4
'93
'119
'93
3,230
200
3,313
282
229
284
266
226
272
289
239
294
242
223
269
245
200
275
287
232
278
269
244
254
'285
'244
'288
2,515
2,587
212
221
197
210
230
229
202
214
196
217
222
231
195
211
2,951
2,899
246
245
236
242
268
262
238
239
233
234
242
247
210
3,922
189
3,865
3,588
341
189
329
295
316
192
328
304
323
181
320
320
297
173
317
310
344
189
319
298
104
115
101
96
96
104
P106
P106
P90
r
277
'229
'282
'256
'219
'270
260
221
265
P251
p219
P254
'218
'228
'212
'223
'212
'218
'202
'207
pl92
pl94
r224
239
248
247
243
'241
'244
'241
'242
p214
P224
337
195
328
'308
312
199
318
290
344
187
355
305
'307
'140
'325
313
'289
'110
'309
'314
335
132
322
'312
P281
pill
P286
p308
do__ .
do _ _
do
8,031
8,096
203
8,758
8,741
220
751
705
362
706
725
343
794
804
333
760
808
285
730
795
220
749
659
310
692
646
357
750
704
402
752
701
452
715
716
451
671
734
388
698
673
412
694
670
436
do
do .
do
2,935
2,946
27
3,232
3,233
27
271
259
63
255
257
62
288
291
58
279
290
46
255
275
27
279
261
45
258
247
55
273
278
51
274
274
51
290
277
65
289
285
69
272
266
75
289
277
87
7,025
7,344
582
606
666
682
631
563
539
617
624
643
582
544
559
633
699
683
676
686
665
699
737
743
710
704
654
683
693
712
541
539
484
451
723
436
492
711
489
15, 147
15, 394
Consumption by publishersd"
_
do
Stocks at and in transit to publishers, end of
period
thous. sh. tons
Imports
do
Price, rolls, contract, f.o.b. mill, freight allowed
or delivered
$ per sh. ton
6,462
6,790
539
606
614
571
625
545
497
568
563
535
141. 40
146. 10
146. 10
146. 10
146. 10
146. 10
146. 10
150. 50
150 50
150 50
150. 50
150 50
Paperboard (American Paper Institute):
Orders, new (weekly avg.)
thous. sh. tons
Orders, unfilled §. _ _ -do ._
Production, total (weekly avg.)
do
454
869
480
479
939
510
504
963
514
506
963
489
542
1,004
524
526
965
523
479
939
554
509
975
522
521
855
521
515
805
514
497
770
508
512
749
511
493
691
502
Paper products:
Shippirg containers, corrugated and solid fiber,
shipments.
mil. sq. ft. surf, area.. 173, 814
185, 536
15, 546
16, 725
17, 959
14, 321
14, 535
14, 469
14, 152
15 233
15 370
15,021
15, 569
2, 575. 0
1, 162. 0
2, 627. 0
1,229.0
221 .4
104.0
226.1
107. 9
243.8
115.6
206.4
98.0
232.4
109.0
210 2
101.3
195 1
95.2
223 7
108.7
208 1
100.8
198 8
98.1
210.3
103.7
50 02
95 14
56 82
48 11
96 42
45 66
35 83
98 31
42 10
'43 93
'89 69
41 64
43.03
91 74
37.78
33.73
.216
.201
.195
182 24 '179 64
129 16 '156 68
457 52 '455 57
181 26
150. 50
464. 00
Folding paper boxes * .
thous. sh tons
mil$.
467
732
454
' 202. 5 P201.6
' 100.2 P99.9
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
thous Ig tons
Stocks, end of period
do
Imports, incl. latex and guayulc
do
581. 86
107. 76
540. 17
« 598. 27
106 49
585. 28
46.86
104 45
55.19
.198
.262
.314
2,131.10 a2,250.19
1,896.15 °2,024.06
368. 16 a 441 03
Price, wholesale, smoked sheets (N.Y.)__$ per Ib..
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
...
1
do
291. 03
do
do
do
257. 22
250. 43
29.58
52.44
107. 41
49. 49
55.56
104 49
59.45
48.26
103 06
49.26
.279
.265
.250
.238
.255
.251
.223
.221
182 24
159.72
428 41
190 23
178.46
423. 78
200 93
190.80
417 14
187 86
164.98
424. 39
198 64
168.65
441 03
193 11
169. 07
434 37
178 91
166 69
436 75
186 76
177 35
433 30
178 68
170 39
499 36
226. 49
23.65
21.68
24.44
20.32
23 11
23 36
23 68
22 27
26 14
25 25
27 25
23.24
238 92
231. 77
29 27
18 98
16.97
31.73
19 32
18.87
31. 15
21 35
21 97
31 32
17 42
16.99
31.08
17 94
18.58
29 27
18 77
17 54
30 46
18 38
17 49
30 51
18 48
19 03
28 42
17 45
17 34
27 28
13 26
13 67
27 87
15 46
'15 58
'26 63
17.14
15.44
26.77
207, 826
15 829
17, 752
19 151
16 738
17 789
18 174
17 522
17 606
17 216
12 642
15 658
15 466
204, 777
2
55 704
2
146,
650
2
2 423
15, 678
3 428
12, 025
224
19, 494
5,519
13, 718
258
20, 390
5 836
14, 249
305
14, 407
4 750
9 519
138
13, 746
4 041
9 505
200
13 895 14 519
4 150
3 681
9 625 10? 651
' 120
187
18 908
4 403
14' 320
185
19 559
4 507
H' 877
175
18 286
4 912
13 201
173
20, 862
5 628
15 077
156
15, 367
2 346
12, 906
114
49 152
2 364
44 686
275
43 386
322
42 331
298
44 898
187
49 152
166
53 750
156
57 105
90
56 400 54 620
' 150
114
49 670
H<)
45 196
133
45 978
107
125
41 657
44 860
11 191
1,098
3 092
3 495
11 103
99
3,576
3,826
11 171
111
3 913
4 361
11 020
83
3 263
3 324
11 125
79
3 073
3 384
3*971
10* 811
84
2 gig
3*371
10 754
' 67
3 336
3 783
10 393
111
3 978
3*666
10 222
71
2 060
3 024
9 680
85
2 765
3 678
q 111
85
3 127
3 390
() 252
99
71
a
a
49 93
106 49
50.51
49 98
104 91
59 03
48 27
98 58
44 05
.218
.191
23.28
TIRES AND TUBES
Pneumatic casings, automotive:
Production
2
thous
203, 060
2
Shipments, total
Original equipment
Replacement equipment. _
Exports
do
do
do
do
Stocks , end of period
Exports (Bu. of Census)
do
do
42 128
2 518
do
do
do
do
43 791
43, 957
11 828
1,390
Inner tubes, automotive:
Production.
_ .
Shipments
Stocks, end of period
Exports (Bu. of Census) . _
199,155
2
58 392
2
137,
562
2
3 202
2
2
r
Revised.
v Preliminary.
1 Revisions for Jan.-Aug. 1968 for synthetic rubber
consumption
are as follows (thous. Ig. tons): 162.96; 154.29; 162.07; 155.85; 162.67; 153.44; 135.82;
2
154.33.
Annual total includes revisions not distributed to the months.
{Data have been regrouped by the American Paper Institute; details and available earlier
data appear in their April 1970 Monthly Statistical Summary.
3 1T>
11 191
83
d" As reported by publisher? accounting for about 75 percent of total newsprint consumption.
§ Monthly data are averages for the 4-week period ending on Saturday nearest the end of the
month; annual data are as of Dec. 31.
*New
series. Monthly data are available back to 1955.
a
Revisions for Jan.- May 1969 will be shown later.
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Annual
October 1970
Sept.
Aug.
Oct.
1970
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
36, 385
39, 699
42, 284
41, 630
579.4 r 617. 0
17.5 ••20.1
138.4
153.5
628.4
17.8
160.0
Sept.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments finished cement
thous bbl
1397 448 1409 564
42 988
43 086
43 585
31 249
25 984
16, 932
20, 039
25, 722
32, 912
669.4
19.0
170 7
654. 6
18.2
177.8
686 3
20.4
167.6
529 6
18.8
136 0
453.9
17.1
118.6
300.4
15.9
91.9
385.6
14.8
96.3
543.3
17.7
142.2
574.8
17.7
134 4
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
7, 556. 8
192.5
1 705 5
7 289 7
241.5
1 783 5
220 6
209 0
16 9
17 8
19 4
15 4
16 6
11.5
10.7
12.8
16 2
10.6
r
15. 1
17.4
23.8
25.0
20.5
21.3
19.2
19.4
22.8
22.2
20.5
' 22. 8
22.2
123.2
123 2
123 5
123.5
124.8
124.8
125.4
126.5
127.0
274.5
284.8
24.0
117.1
122 3
122.7
387, 469
416, 870
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments
thous. $
Sheet (window) glass shipments
Plate and other flat glass shipments
Glass containers:
Production
do
do
thous gross
Shipments domestic total
do
General-use food:
Narrow-neck food
do
Wide-mouth food (incl. packers' tumblers,
jelly glasses and fruit jars)
thous gross
139 391
248 078
150 123
266 747
(8)
259 373
98, 425
36 385
62 040
22 362
21, 377
22, 879
20 579
108, 303
88, 765
90, 633
37 180
71 123
29 040
59,725
31, 092
59, 541
19 460
20, 824
20,300
23, 293
23, 033 '22, 589
24,962
20, 110
21,411
23, 798 '22, 051
23, 970
1,927
1,963
2,043
1,847
5,141
4 200
4 140
4,731
4,689
5,293
6,342
5,415
2,097
4,839
4,407
1,685
5,956
4,988
1,505
6,909 r 6, 532
5,205 ' 4, 922
1,699 ' 1, 303
6,323
4,774
1,670
21, 927
(8)
250 212
22 623
22 732
20 627
18 554
22 151
17 913
18, 570
24, 705
(8)
24 172
2,590
2,817
1,919
1,557
1,737
1,705
1,877
2,014
(8)
57 828
5 269
5 333
5 361
4 595
5 095
4 372
4 331
4,841
4,927
1,668
4 561
4,747
1,840
4 093
3,922
1,853
4 142
3,434
1,607
6 030
4 073
1,710
3 990
3,192
1,524
4,221
3, 499
1,479
22, 555
2,851
Beverage
Beer bottles
Liquor and wine
do
do
do
(6)
(•)
(8)
55 848
51 086
20 324
Medicinal and toilet
Chemical, household and industrial
Dairy products
do
do
do
(8)
(8)
(8)
35, 916
4,455
583
2,902
381
45
3,020
366
48
3 038
397
44
2,884
289
46
3 075
381
50
2,843
254
33
2, 806
329
28
3,237
428
31
2,705
320
27
2,545
285
29
2,864 ' 2, 459
322
••273
26
25
2,734
294
31
23 518
30, 167
30,960
29, 275
31 263
33 051
30 167
33 032
34, 381
31, 313
33,540
35 204
34, 016 '34, 404
35, 155
5,454
10 018
5,858
9,881
1,876
2 697
1,497
2 448
1,206
2,181
1,396
2,524
do
8 844
9 324
2 407
2 218
2,000
2,238
do
do
4 935
301
4,681
316
1 318
77
1 162
78
702
76
1,284
86
do
do
536
778
473
702
917
124
195
105
163
108
140
106
154
235
2 359
70
212
2 213
59
184
1,899
46
187
2,258
64
Stocks, end of period
do
GYPSUM AND PRODUCTS (QTRLY)
Crude gypsum, total:
Imports
Production
_
.
thous. sh. tons
do
Calcined, production, total
Gypsum products sold or used, total:
Uncalcined uses
Industrial uses
Building uses:
Plasters:
Base-coat
All other (Incl. Keene's cement)
Lath
Wallboard...
All other
mil sq ft
do
do
999
8 283
269
9,090
275
TEXTILE PRODUCTS
WOVEN FABRICS
Woven fabrics (gray goods), weaving mills:J
Production total 9
mil linear yd
Cotton
do
Manmade
fiber
do
12 693
7 408
5 052
12 906
7 159
5 546
986
552
420
965
533
419
2
1 231
2 672
2 544
979
543
423
2 1 175
2 650
2 509
948
522
410
958
527
414
21 191
2632
2 538
910
491
404
924
502
406
2
12028
528
2
482
791
459
322
1 429
584
830
1,438
587
836
Stocks, total, end of period 9 cf
Cotton
Manmade
fiber
do
do
do
1 366
739
611
1 404
659
730
1 372
691
668
1 376
674
689
1 343
663
668
1 335
639
682
1 404
659
730
1 401
655
729
1 417
658
743
1 389
622
749
1 389
'606
765
1 409
594
799
Orders, unfilled total end of period 9 If
Cotton
Manmade
fiber
do
do
do
3 098
1 627
1*384
2 779
1 535
1 165
3 024
1 593
1 358
2 902
1 496
1 333
2 847
1 500
1 275
2 838
1 498
1 265
2 779
1 535
1 165
2 679
1 483
1 112
2 620
1*451
1 090
2 510
1 396
1 047
2 482
1 393
1 026
2 522 ' 2 460 2,512
1 438 1 425 1,481
983
983
1 030
10, 917
r 9 944
COTTON
Cotton (excluding linters):
Production:
GinningsA
-- . thous. running bales
Crop estimate, equivalent 500-lb. bales
thous. bales
Consumption
do
Stocks in the United States, total, end of period
10,948
8 568
10 014
8 294
528 ' 1 606 5 789 r 8 385 rsg H6 '4 9 821
629
634
2
810
646
2 717
635
6
'59,944
626
5 10,2 014
780
616
2
609
r
730
280
1,122
"10,618
584
••532
12 978 r 19 9fi^ '15 619 T j^ 857 r!3 901 r jg -My r 19 9fif» r 1 1 9 Wl r 10 324 r 9 312 r 8 405 r 7 506 6 517 r 5 760 15, 789
Domestic cotton total
do
12 926 r ^2 248 r 15' 586 r 14 g34 T 13 879 r 13 129 r 1 9 94.R r n 243 rio 303 r 9 294 r 8r 383 r 7 486 r 6 498 '5 733 15, 773
360 10, 875
r 716
On farms and in transit
do
630
' 585 '417
r 866
1 548 r 1 323 r 9 881 r 9 013 T 5' 310 T 2 952 r i 323 r 1 075
9' 653
Public storage and compresses
do
6,160
5 363 4,621 ' 3, 962 3,639
4* 526
7 977
7 008
7*526
9 079
9 807
4* 258
9 653 8 832
1 OQ,£
qoc
ftAQ
'
1
411 1,259
1 ^71
979
44.7
0Q8
1
979
1
460
Consuming establishments
do
1
592
1
538
1
569
1
460
1
1
I
1
I
15
'27
19
23
Foreign cotton, total
do...
20
52
21
' 21
19
17
33
23
19
17
16
2
cTStocks (owned by weaving mills and billed and held for others) exclude bedsheetmg,
' Revised.
1 Reported annual total; revisions
not allocated to the months.
Data
3
cover 5 weeks; other months, 4 weeks.
Ginnings to Dec. 13.
* Ginnings to Jan. 16.
toweling, and blanketing, and billed and held stocks of denims.
1 Unfilled orders cover wool apparel (including polyester-wool) finished fabrics; production
* Crop for the year 1969.
o Data not available owing to lack of complete reports from
and stocks exclude figures for such finished fabrics. Orders also exclude be-isheeting, toweling,
the industry.
7 Oct. 1 estimate of 1970 crop.
9 Includes data not shown separately.
{Effective Aug. 1969 SURVEY, data (1964-Apr. 1969) reflect adjustments to new benchand blanketing.
ATotal ginnings to end of month indicated, except as noted.
marks; see Bureau of Census reports: Woven Fabrics (1964-68), Series M22A-Supplement
and (Jan.-Apr. 1969), M22A (69) 1-4 Supplement.
SURVEY OF CURRENT BUSINESS
October 1970
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
1969
Annual
S-39
Aug.
Sept.
Oct.
1970
Nov.
Dec.
Jan.
Mar.
Feb.
Apr.
May
June
July
Aug.
Sept.
TEXTILE PRODUCTS—Continued
COTTON— Continued
Cotton (excluding linters)— Continued
E xports
thous. bales
Imports
- ... . -.
do
Price (farm), American upland
cents per lb__.
Price, middling 1", avg. 12 markets
do
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
mil
do
bil
do
do. .
Cotton yarn, price, 36/2, combed, knit
$ per Ib
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly )
mil lin yd
Orders , un filled, end of period, as compared with
avg weekly production
No. weeks' prod
Inventories, end of period, as compared with
Ratio of stocks to unfilled orders (at cotton
mills) end of period seasonally adjusted
Exports raw cotton equiv
Imports raw cotton equiv
thous bales
do
Mill margins:
Carded yarn cloth average
cents per lb._
Combed yarn cloth average
do
Blends (65% polyester 35% cotton)
do
Prices, wholesale:
Print cloth 39 inch 68 x 72 cents per yard
Sheeting class B 40-inch 48 x 44-48
do
3
3,870
95
2,397
46
147
1
141
4
167
13
123
6
176
1
382
3
325
8
246
4
308
7
299
2
269
2
186
2
84
1
122.0
122.9
720.8
122.2
20.5
21.6
19.4
21.4
21.7
21.7
21.4
21.9
20.0
22.0
19.1
22.0
20.2
22.1
20.7
22.2
21.4
22.4
22.1
22.6
22.3
22.8
22.6
23.0
22.6
23.0
20.0
13.1
128.0
.493
85.9
19.6
12.4
125.6
.476
80.9
19.8
12.8
9.6
.480
6.2
19.7
12.7
9.6
.480
6.1
19.7
12.6
212.1
.483
27.7
19.7
12.6
9.5
.475
6.0
19.6
12.4
2 10.6
.424
26.7
19.6
12.4
9.4
.470
5.9
19.5
12.2
9.3
.466
5.8
19.5
12.2
11. 5
.459
27.2
19.3
12.1
8.9
.447
5.6
19.1
11.9
9.0
.451
5.6
19.1
11.9
2 10 6
.422
26.5
'19.1
•-12.0
78
.388
4.8
19.1
11.9
8.7
.434
5.3
1.049
1.027
1.024
1.027
1.027
1.024
1.024
1.021
1.021
1.014
1.008
1.008
7,476
6,965
13.8
15.0
12.9
12.7
12.8
13.1
15.0
13.0
12 7
12.8
13.2
13.3
15.7
14.9
13.1
53
6.0
53
5.4
5.4
5.1
6.0
56
55
5.5
55
5.4
60
5.6
5.1
40
.42
40
.41
.42
.39
.42
43
45
44
43
.41
37
.38
38
256.0
559.6
331.1
573.4
27.1
57.2
26.3
45.2
30.1
43.2
39.1
48.9
34.9
44.0
28.2
52 7
23 1
49 9
29.1
52.0
28.0
40.7
25.0
52.0
21.2
42.1
19.3
52.5
16.5
37.2
43.27
37.73
93.25 * 108. 02
59.16
64.40
43.51
107. 42
60 03
44.03
107. 60
59.52
44.06
107. 46
60.36
43.96
107. 87
60.71
43.92
109.01
61.02
43.92
108. 81
61 11
43.86
108 00
60 43
43.79
106.81
43.65
105.11
43.41
101. 65
43.33
99.07
43.11
98.78
42.98
18.7
19 0
18 8
19.0
19.0
19.3
18.5
18.5
19.0
18 5
19 3
17 8
17 8
9 15 8
915.8
11 083
14, 197
15 424
ll', 425
11, 647
11,880
13 836
9,310
17.3
18.6
96 390
Fxports" Yarns and monofilaments
thous Ib
108, 253
Staple, tow, and tops
do
8 59 303
Imports* Yarns and monofilaments
do
217, 707
Staple tow and tops
do
Stocks, producers', end of period:
59.4
Filament yarn (rayon and acetate)
mil. Ib
59.0
Staple, incl. tow (rayon) .
.. do
Noncellulosic fiber, except textile glass:
194.3
Yarn and monofilaments
do
210.9
Staple, incl. tow _ _ ..
do .
47.3
Textile glass
fiber
do
100, 539
127,484
41,063
159, 404
1,723
1,608
MANMADE FIBERS AND MANUFACTURES
5, 159. 5 5, 520.2
Fiber production, qtrly total
mil. Ib
774.4
805.2
Filament varn (ravon and acetate)
do
758.8
739.1
Staple incl tow (rayon)
do
Noncellulosic, except textile glass:
1, 662. 1 1, 766. 9
Yarn and monofilaments
do
1, 550. 4 1, 718. 7
Staple, incl. tow
do
501.4
402.7
Textile glass
fiber
do
9 886
10, 433
4 564
16 946
1,664
1,403. 4
195.8
189.1
1,368.6
183.9
187.5
1 379 6
181 7
171 7
1, 334. 4
179.5
141.2
445.3
443.3
129.9
435.1
422.1
140.0
446 3
452 0
127 9
441.7
447.9
124.1
8 774
11,122
2 979
12, 989
9 230
8 887
11, 799 11,' 636
1 003 4 533
13 997 12,227
8,710
13, 019
5 872
8,726
9 861
13 762
5 031
16 317
12 692
13 665
6 755
14 705
^fvi
19 •V?^
16 113
14 273
7C-I
ft S7A
13 772
12 483
1^
8
15 212
12 980
9 085
12 028
16 942
12,106
11 966
11,168
78.4
75.6
80.5
56.2
78.4
75.6
80 6
92 o
84.5
90.3
259.8
247.6
70.6
263.2
249.2
56.9
259.8
247.6
70.6
258.4
251 3
78 4
280.6
254.1
87.7
Prices, manmade fibers, f.o.b. producing plant:
.61
61
Staple* Polyester 1 5 denier
$ per Ib
.89
.85
Yarn: Rayon (viscose), 150 denier...
do
1.42
1.42
Acrylic (spun), knitting, 2/20, 3-6D..do_...
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.), total 9
mil. lin. yd-. 5,203.6 5, 396. 9
1, 737. 2 1, 690. 7
Filament yarn (100%) fabrics 9 - —
do
776.4
779.8
Chiefly rayon and/or acetate fabrics
do
8 347. 8 s 345. 0
Chiefly nylon fabrics
do
2, 749. 4 2, 953. 7
Spun yarn (100%) fab., exc. blanketing 9 --do
Rayon and/or acetate fabrics and blends
678.0
629.8
do
1 751 9 1 885 7
Filament and spun yarn fabrics (combinations
517.0
482.9
and mixtures)
mil. lin. yd...
61
.89
1.42
61
.89
1.42
61
.89
1.41
61
.89
1.41
.61
.89
1.41
1,257.3
395.0
179.3
82.6
681.2
1,341.2
421.0
198.5
78.9
726.9
143.8
431 6
130.5
478 6
124.6
134.3
WOOL
Wool consumption, mill (clean basis):
Apparel class...
_
Carpet class
Wool imports, clean yield
Duty-free (carpet class)
mil. Ib,.
do
do
do
238.3
91.4
249.4
119.6
219.0
93.8
189.2
95.7
16.9
7.0
23.7
14.0
14.2
7.7
12.3
7.1
» 19.5
2 9.8
7.5
4.2
14.7
6.7
17.5
9.3
Wool prices, raw, clean basis, Boston:
Good French combing and staple:
Graded territory,
fine
Graded fleece, % blood
Australian, 64s, 70s, good topmaktng
$ per lb._
do
do
1.207
.840
1.180
1.221
.862
1.174
1.220
.850
1.195
1.220
.850
1.195
1.218
.850
1.175
1.210
.890
1.089
WOOL MANUFACTURES
Knitting yarn, worsted, 2/20s-50s/56s, American
92 6
92 3
92 3
92 3
91 0
system wholesale price
1957-59 ~ 100
Wool broadwoven goods, exc. felts:
228 2
Production (qtrly )
mil lin yd
243 3
48 1
Price (wholesale), suiting, flannel, men's and
103.0
102.6
103.0
100.9
103.0
bovs'. f.o.b. mill
1957-59=100..
r
2
3
Revised.
1 Season average.
jror 5 weeks; other months, 4 weeks.
Average
for 6 months, July-Dec.
* Beginning 1969, the average omits two6 cloths previously included,
s Revised total; revisions not distributed by months.
Beginning Jan. 1970,
quotation refers to Australian wool, 64's, Type 62; comparable prices prior to 1970 are not avail-
2
92 6
216.1
21.9
23.0
61
.89
1.41
61
.89
1.41
M
.89
1.42
.89
1.42
89
1.42
'1,339.5
'406.5
r 186 1
76.0
' 743. 1
15.6
57
1*> 7
6.1
1, 296. 3
382.0
m
e
70.1
737.7
r 124. 2
502. 1
104.1
511.0
133.5
122 1
r
16.0
5.8
12 9
5.8
43.29
2
15 6
14 1
2 16 3
r9 8
19 o
10 81
7
11. 3
4 3
78
58
92
1.198
1.185
1.185
1.110
1.081
1.070
1.055
.890
OAK
884
865
1.075 61.034 6 1. 014 6 1. 010 « 1. 019 61.025 61.020
1.025
1.025
.953
6.982
6.952
6 .854
27.3
16.4
7.2
92 5
45 7
92 5
92 6
18 8
279
64
92.9
58 4
4 7
93.0
can
SftA
93 7
54 5
103.0
103.0
103.0
103.0
103.0
103.0
103.0
7
8
able.
Season average through
Apr. 1970 for all cotton.
Omits quantities of chiefly
9
nylon combination fabrics.
Beginning Apr. 1970, avera?3 is for cloth SSMs-insh, 61x56,
5.50 yds./lb.; data not comparable with prices for periods prior to Apr. 1970.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated in footnotes below, data
through 1968 and descriptire notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1970
1969
1969
Annual
October 1970
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
22,403
20,972
20, 161
Sept.
TEXTILE PRODUCTS—Continued
APPAREL
Hosierv sh ipments
thous. doz. pairs
Men's 'apparel, cuttings:
Tailored garments:
Suits
thous. units
Coats (separate) , dross and sport
do
Trousers (separate) dress and sport
do
Shirts (woven) dress and sport
thous doz
Women's, misses', juniors' apparel, cuttings:
Coats
thous units
Dresses
.
«
_
do
Blouses and shirts
thous doz
Skirts
do
225,588 r 246 462 r 22 462
20 564
14 237
165 104
21 771
21 592
277, 958
15 293
8 168
20
14
167
21
829
136
360
252
19 859
255, 228
14 457
7 694
20 897
24 166
20 306
17 631
17 881
18 511
19 267
18 900
18 477
1 625
1 026
14 040
1 676
1 102
13 923
1 875
1 378
1 052
11 390
1 782
1 540
1,036
13 730
1 791
1 489
i'goo
1 850
1 354
14 097
9 058
13 890
1 985
1 614
1,013
15 299
1,972
1,571
1,092
16 140
2 005
831
1,503 ' 1, 267
566
1.022
'992
14, 694 ' 14, 578 13,334
1,519
1,867 ••1,993
1 727
1 804
20,068 20 391
1 074
1 119
2 107
22 148
1 543
1 772
18 169
1 308
'500
1 503
16, 850
1 097
1 712
19, 259
1,220
1 522
21,912
1 357
1 207
23,162
1,348
22,894
1 293
1 752
1 182
14 798
1 694
738
683
722
443
643
928
683
558
992
571
1,549
1,191
20, 055 '21,770
1,153 ' 1, 236
'676
572
1,474
18, 244
1,077
608
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders, new (net), qtrly. total
mil $
U.S. Government.
do
Prime contract
do
Sales (net), receipts, or billings, qtrly. total.-do
U.S. Government
do
27,168
16,577
24,575
25, 592
16,635
22,005
14,521
19,289
24,648
16,560
5,699
4 145
5,186
5,796
3,926
5,616
3,723
4 949
6 609
4,545
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. $
30,749
16,343
16,608
3,951
28, 297
14, 298
15,610
3,578
29 284
15, 123
16, 160
3,988
28 297
14 298
15,610
3,578
Aircraft (complete):
Shipments ©
Airframe weight 0 .
Exports, commercial...
do
thous. Ib
mil. $
4,520
3,399
4,059
6, 480
4,191
' 4, 698
' 2, 928
' 4, 036
«• 5, 976
' 3, 907
••27,124
••13,434
14, 821
'3,343
25,164
12,641
13,868
2,964
T
5,083
4,338
4 282
4 338
' 4, 236
3,829
2,834
2,881
2,799
2 881
2,779
2,678
4, 355. 1
76,202
1, 403. 1
3, 593. 4
60, 117
1,239.2
267.7
4,096
93.0
198.7
3,764
36.1
249.6
4,151
107.4
224.7
3,438
71.6
342.6
5,464
143.0
209.6
3,389
156.6
326.4
5,037
159.9
341.5
5,971
162.2
429.7
6,899
159.5
419.1
7,116
240.5
r 208. 5
' 3, 236
96.5
288.2
4,495
123.8
303.9
4,969
55.2
10,718.2 10, 142. 8
10,172.2 9, 583. 6
8, 822. 2 8,223.7
8,407.1 7, 806. 5
1, 896. 1 1,919.1
1, 765. 1 1, 777. 1
473.7
446.5
346.4
329.5
127.3
117.0
907.3 1,048.5
995.7
849.9
856.8
751.6
815.6
706.5
191.7
155.7
180.1
143.3
855.2
807.4
682.1
644.0
173.2
163.3
788.7
741.5
624.0
588.8
164.7
152.7
719.1
683.5
571.4
545.0
147.7
138.5
689.2
650.8
555.2
528.4
134.1
122. 4
776.9
732.2
626.2
594.4
150.7
137.8
807.5
760.9
661.3
627.2
146.2
133.7
890.1
839.5
724.4
684.4
165.7
155.1
991.0
931.0
805.3
758.4
185.7
172.6
627.5
600.5
481.6
464.3
145.9
136.2
413.4
384.4
272. 4
254.0
141.0
130.4
2 614. 6
MOTOR VEHICLES
Factory sales (from plants in U.S.), total
Domestic
Passenger cars, total
Domestic
Trucks and buses, total
Domestic.,
_
thous..
do
do ..
do
do
do
Retail sales, new passenger cars : *
Total, not seasonally adjusted
thous. .
DomesticsA
do
Imports A
do
Total, seasonally adjusted at annual rates mil
DomesticsA
do
Imports A
--- .do
Retail inventories, new cars (domestics), end of
period: *A
Not seasonally adjusted
thous . .
Seasonally adjusted
do
thous
do
do
do
do
do
9,582
8,464
1,118
654
555
99
9.6
8.4
1.2
807
709
98
10.1
9.0
1.1
924
817
107
9.8
8.6
1.2
797
706
91
9.3
8.1
1.2
722
639
83
9.0
7.8
1.2
624
539
85
8.5
7.4
1.1
686
598
88
9.2
8.0
1.2
745
646
99
8.6
7.5
1.1
798
691
107
9.0
7.8
1.2
811
699
112
9.0
7.7
1.3
922
800
122
9.4
8.1
1.3
763
641
122
9.2
7.8
1.4
638
526
112
8.9
7.6
1.3
579
488
91
8.8
7.8
1.0
1,449
1,525
1,467
1,542
1,304
1,556
1,367
1,601
1,440
1,668
1,452
1,603
1,467
1,542
1,563
1,481
1, 555
1,428
1,573
1,420
1,578
1,428
1,632
1,458
1,674
1,483
1,509
1,504
1,269
1,521
1,261
1,496
2.2
2.1
2.3
2.4
2.4
2.4
2.2
2.3
2.2
2.3
2.2
2.3
2.4
2.3
333. 45
292.11
3 103. 23
10.92
9.48
7.97
35.13
31.39
7.45
34.47
28.30
8.87
32.84
27.92
7.48
30.39
25.96
8.33
18.76
14.64
6.40
19. 19
15.44
8.66
18.40
13.98
10.61
35.85
32.16
8.81
33.11
30.04
8.79
39.08
36.40
8.68
16.83
14.70
7.69
13.89
12.55
7.46
11,620.45 1,846.72
1500.88
691. 15
i 114.65
146.01
120. 38
26.58
9.70
148. 65
68.37
11.90
177. 66
76.61
13.94
154.02
70.84
3.86
165. 11
73.25
13.90
177.06
59.19
12.04
167. 79
61. 35
10. 29
177. 07
70.00
9.99
205. 72
74.17
9.85
174. 73
74.36
10.13
187. 76
79.16
10.52
150.64
46.86
4.05
95.14
19.01
4.40
138,347
94, 808
10, 702
7,554
11,903
8,730
12,359
8,761
10, 768
7,754
9,899
6,556
10,004
6,795
9, 824
6, 547
10,253
7,237
9,095
6,062
9,871
7,057
8,387
' 8, 679
' 5, 630 5,880
7,592
4,895
33, 332
2,827
3,651
3,532
3,727
4,039
3,461
3, 947
3,300
2,189
2,056
r 2, 293
1,590
1,874
9, 446. 5
1,061.6
1, 888. 8
5 718. 8
595.6
5 153. 8
5 619. 1 • 578. 4 7 741.1
799.8
581.8 « 73. 8
5 130. 9 « 124. 4 7 155. 2
5768.4
5100.0
5 161. 9
5 784. 4
5104.2
s 158. 9
5900.9
s 118. 6
s 176. 6
5837.7
5 112. 2
s 179. 4
5683.2
5 109. 9
5 159. 4
68, 452
54,072
84, 345
65. 401
46, 751
35, 508
5, 482
4,032
2,679
2,284
47,915
39,816
6,881
4,879
4,504
4,021
45,133
38,853
6,972
5,181
3,782
3,148
42,043
36,920
6,273
4,941
8,264
3,456
43,460
35,361
5,765
4,640
9,022
4,753
46, 751
35, 508
4, 282
3,484
2,032
2,032
44, 201
33,756
5, 755
4, 859
3, 632
3,236
40, 701
30, 759
6,632
5,386
3,080
1,948
36, 426
26, 595
6,448
4,800
5,501
5,501
34, 491
26, 308
5.832
4,227
2, 387
2,218
31,046
24, 299
6,115
4,478
5,218
3,487
30r149
23, 308
5,446
4,457
4,340
4,226
29,040
23, 074
5,164
4,127
2,148
2,148
25, 782
20, 853
1,438
5.6
1,442
5.5
1,441
5.5
1,440
5.5
1,440
5.5
1,438
5.6
1,438
5.7
1, 435
5.6
1,434
5.7
1,435
5.6
1,434
5.7
1,433
5.5
1,433
5.6
1,433
5.8
94.37
65.62
93.98
65.19
94.15
65 35
94. 22
65.45
94.38
65.23
94.37
65.62
94.45
65.69
94. 45
65. 80
94.52
65.91
94.76
66.05
94.85
66.15
95.32
66.52
95.46
66.63
95. 77
66.81
330. 46
286. 78
92.03
Truck trailers (complete) , shipments
number. . 113, 928
Vans
do
75, 148
Trailer bodies and chassis (detachable), sold
separately
number
33, 761
Registrations (new vehicles): O
Passenger cars
Import cars
Trucks
2 136. 4
9,656
8,625
1,031
Inventory-sales ratio, new cars (domestics)* A
ratio.
Exports (Bureau of the Census):
Passenger cars (new) , assembled
To Canada
Trucks and buses (new), assembled
Imports (Bureau of the Census):
Passenger cars (new), complete units
From Canada total
Trucks and buses, complete units
2 478. 3
thous . .19,403.9
do
1985.8
do
11,775.6
s 733. 4 5 955. 6
595.1 5 112. 6
s 149. 1 5 174. 4
* 757. 5 * 5912. 5
593.6 * 5101. 7
5 146. 8 « 5185. 0
RAILROAD EQUIPMENT
Freight cars (ARCI & AAR):
ShipmentScT
number
56, 262
Equipment manufacturers
do
38, 991
»63,561
New ordersd"
. ___ __ .
do
i 49, 391
Equipment manufacturers
do
31, 740
Unfilled orders, end of periodcf
do
24, 540
Equipment manufacturers
do
Freight cars (revenue), class 1 railroads (AAR):§
1,458
Number owned end of period
thous
5.2
Held for repairs % of total owned
Capacity (carrying), aggregate, end of period
93. 82
mil. tons-64.34
Average per car
_ _ _ _ _ _ _. -._ tons.-
r
Revised.
1 Annual total includes revisions not distributed by months. 2 Preliminary
4
estimate of production. 3 Beginning 1969, data exclude vehicles on runners and skis.
Includes delayed registrations
for several States.
s Omits data for one State.
• Omits data
7
for three States.
Omits data for two States.
*New series. Data for domestics from Automobile Manufacturers Association, for imports,
compiled from industry sources; data are seasonally adjusted by OBE.
ADomestics refer to U.S.-type cars produced in the United States and Canada; imports
refer to foreign-type cars only and exclude domestics produced in Canada.
cf Beginning May 1969, data (American Railway Car Institute and Association of American
Railroads) refer to new cars for domestic users; cancellations are not reflected.
9 Total includes backlog for nonrelated products and services and basic research.
©Data include military-type planes shipped to foreign governments.
O Courtesy of R. L. Polk & Co.; republication prohibited.
§ Excludes railroad-owned private refrigerator cars and private line cars.
INDEX TO CURRENT BUSINESS STATISTICS, Pages S1-S40
SECTIONS
General:
Business indicators
Commodity prices
Construction and real estate
Domestic trade
1-7
7-9
9,10
11,12
Labor force, employment, and earnings
Finance
Foreign trade of the United States
Transportation and communications
13-16
16-21
21-23
23,24
Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products; tobacco
Leather and products
24,25
25,26
26-30
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
Advertising
11,16
Aerospace vehicles
40
Agricultural loans
16
Air carrier operations
23
Aircraft and parts
4,6,7,40
Alcohol, denatured and ethyl
25
Alcoholic beverages
11,26
Aluminum.
33
Apparel
1,3,4,8,9,11-15,40
Asphalt and tar products
35,36
Automobiles, etc
1,3-6,8,9,11,12,19,22,23,40
Balance of international payments
2,3
Banking
16,17
Barley
27
Battery shipments
34
Beef and veal
28
Beverages. .
4,8,11,22,23.26
Blast furnaces, steel works, etc
5-7
Bonds, outstanding, issued, prices, sales, yields.... 18-20
Brass and bronze
33
Brick
38
Broker's balances
20
Building and construction materials
6, 7,
9,10,31,36,38
Building costs
10
Building permits.,
10
Business incorporations (new), failures
7
5
Business sales and inventories
26
Butter
Cattle and calves
28
Cement and concrete products
9,10,38
Cereal and bakery products
8
Chain-store sales, firms with 11 or more stores. , .
12
Cheese
26
Chemicals
4-6,8,13-15,19,22-25
Cigarettes and cigars
30
Clay products
9,38
Coal
4,8,22,34,35
Cocoa
23,29
Coffee
23,29
Coke
35
Communication
2,20,24
Confectionery, sales
29
Construction:
Contracts
10
Costs
10
Employment, unemployment, hours, earnings. . 13-15
Fixed investment, structures
1
Highways and roads
9,10
Housing starts
10
Materials output indexes
10
New construction put in place
9
Consumer credit
17,18
Consumer expenditures
1
Consumer goods output, index
3,4
Consumer price index
8
Copper
33
Corn......
27
Cost of living (see Consumer price index)
8
Cotton, raw and manufactures
7,9,22,38,39
Cottonseed cake and meal and oil
30
Credit, short- and intermediate-term
17,18
Crops
3,7,27,30,38
Crude oil and natural gas
4,35
Currency 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
2,3,19-21
11,12
Earnings, weekly and hourly
15
Eating and drinking places
11,12
Eggs and poultry
3,7,8,28,29
Electric power
4,8,25,26
Electrical machinery and equipment
4-7,
9,13-15,19,22,23,34
Employment estimates
13-15
Employment Service activities
16
Expenditures, U.S. Government
18
Explosives
25
Exports (see also individual commodities)
1,2,21-23
Express operations
23
Failures, industrial and commercial
7
Farm income, marketings, and prices
2,3,7,8
Farm wages
15
Fats and oils
8,22,23,29,30
Federal Government
finance
18
Federal Reserve banks, condition of
16
Federal Reserve member banks
17
Fertilizers
8,25
Fire losses
10
Fish oils and
fish
29
Flooring, hardwood
31
Flour, wheat
28
Food products
1,4-8,11-15,19,22,23,26-30
Foreclosures, real estate
10
Foreign trade (see also individual commod.)
21-23
Foundry equipment
34
Freight cars (equipment)
4,40
Fruits and vegetables
7,8
Fuel oil
35,36
Fuels
4,8,22,23, 34-36
Furnaces
34
Furniture
4,8,11-15
Gas, output, prices, sales, revenues
Gasoline
Glass and products
Glycerin
Gold
Grains and products
Grocery stores
Gross national product
Gross private domestic investment
Gypsum and products
4,8,26
1,35
38
25
19
7,8,22,27,28
11,12
1
1
9,38
Hardware stores
11
Heating equipment
9,34
Hides and skins
9,30
Highways and roads
9,10
Hogs
28
Home electronic equipment
8
Home Loan banks, outstanding advances
10
Home mortgages
10
Hosiery
40
Hotels
24
Hours of work per week
14
Housefurnishings
1,4,8,11,12
Household appliances, radios, and television sets.
4,
8,11,34
Housing starts and permits
10
Imports (see also individual commodities) . . . 1, 2, 22, 23
Income, personal
.............................
2, 3
Income and employment tax receipts ____ ........ 18
Industrial production indexes:
By industry
................................
3, 4
By market grouping. . . .
....................
3, 4
Installment credit
.........................
12, 17, 18
Instruments and related products .......... 4-6, 13-15
nsurance, life
................................
18, 19
interest and money rates
......................
17
iv en tones, manufacturers* and trade ....... 5, 6, 11, 12
iventory -sales ratios
.........................
5
ron and steel
..............
4-7,9, 10, 19,22, 23,31,32
16
Labor advertising index, strikes, turnover
13
Labor force
28
Lamb and mutton
28
Lard
33
Lead
Leather and products
..................
4, 9, 13-15, 30
Life insurance
........................
........
18, 19
Linseed oil
....................................
30
Livestock ........... .
....................
. 3, 7, 8, 28
Loans, real estate, agricultural, bank, brokers*
(see also Consumer credit) .......... 10, 16, 17, 18, 20
Lubricants
...................................
35, 36
Lumber and products
...............
4, 9, 10-15, 19, 31
Machine tools
................................
34
Machinery
.................
4-7, 9, 13-15, 19, 22,23, 34
Mail order houses, sales
.......................
11
Man-hours, aggregate, and indexes
.............
14
Manmade fibers and manufactures
..............
9, 39
Manufacturers* sales (or shipments), inventories,
orders
.....................................
5-7
Manufacturing employment, unemployment, production workers, hours, man-hours, earnings. . . 13-15
Manufacturing production indexes
..............
3, 4
Margarine
...................................
29
Meat animals and meats
.............
3, 7, 8, 22, 23, 28
Medical and personal care
.....................
8
Metals
.......................
4-7,9,19,22,23,31-33
Milk
........................................
27
Mining and minerals
.................
2-4,9, 13-15, 19
Monetary statistics
................
, ..... . ---- 19
Money supply
................................
19
Mortgage applications, loans, rates ....... 10, 16, 17, 18
Motor carriers
...............................
23, 24
Motor vehicles
............
1,4-6,8,9,11,19,22,23,40
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
NoninstaUment credit
18
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
Persona] income
2,3
Personal outlays
2
Petroleum and products
4-6,
8,11-15,19,22,23,35,36
Pig iron
31,32
Plant and equipment expenditures
2
Plastics and resin materials
25
Population
13
Pork
28
Poultry and eggs
3,7,8,28,29
Prices (see also individual commodities)
7-9
Printing and publishing
4,13-15
Private sector employment and earnings
15
Profits, corporate
2,19
Public utilities
2-4,9,19-21,25,26
Pulp and pulpwood
36
Purchasing power of the dollar
9
Radiators and convectors
34
Radio and television
4,11,34
Railroads
2,15,16,20,21,24,40
Railways (local) and bus lines
23
Rayon and acetate
39
Real estate
10,17,18
Receipts, U.S. Government
18
Recreation
8
Refrigerators and home freezers
34
Rent (housing)
8
Retail trade
5,7,11-15,17
Rice
27
Roofing and siding, asphalt
36
Rubber and products (incl. plastics)
4-6,
9,13-15,23,37
Saving, personal
Savings deposits
Securities issued
Security markets
Services
Sheep and lambs
Shoes and other footwear
Silver
Soybean cake and meal and oil
Spindle activity, cotton
Steel (raw) and steel manufactures
Steel scrap
Stock prices, earnings, sales, etc
Stone, clay, glass products
Stoves and ranges
Sugar
Sulfur
Sulfuric acid
Superphosphate
2
17
19,20
20,21
1,8,13
28
9,11,12,30
19
30
39
22,23,31,32
31
20,21
4-6,9,13-15,19,38
34
23,29
25
24
25
Tea imports
29
Telephone and telegraph carriers
24
Television and radio
4,11,34
Textiles and products.... 4-6,9,13-15,19,22,23,38-40
Tin
33
Tires and inner tubes
9,11,12,37
Tobacco and manufactures
4-7,9,11,13-15,30
Tractors
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
13,16
16,17,20
finance
18
2-4,9,19-21,25,26
Vacuum cleaners
Variety stores
Vegetable oils
Vegetables and fruits
Veterans* benefits
Wages and salaries
Washers and dryers
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
flour
2,3,15
34
_ 34
27,28
• 8» J
5,7,11,13-15
36
9,39
33
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